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Daily Current Affairs 8th December 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 8th December2023. It includes all Major National, International, Business and Sports related current affairs of 8th December2023. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 8th December2023 Current affairs test.

 

 

National News

1. LIC’s Global Standing in Insurance

  • LIC is now the world’s fourth-largest insurer in terms of reserves, positioned behind Allianz SE, China Life Insurance, and Nippon Life Insurance, according to a S&P Global Market Intelligence report.
  • Its reserves are valued at $503.7 billion.

2. SBI Card Integrates with Bharat BillPay

  • SBI Card has joined NPCI’s Bharat BillPay for credit card payments, aiming to streamline bill payments for its users.
  • Bharat BillPay already includes credit card issuers like Kotak Mahindra Bank, BoB Financial, and others.

3. SEBI Extends SCORES Integration Deadline

  • SEBI has postponed the deadline for connecting SCORES with the online dispute resolution mechanism to April 1, 2024.
  • Companies must report actions on SCORES within three weeks, aiding in addressing investor complaints against financial market entities.

4. Record-Breaking UPI Transactions in November 2023

  • UPI transaction value reached an all-time high of ₹17.4 lakh crore in November 2023, with the number of transactions slightly dipping to 1,124 crore.
  • UPI transactions are predicted to surpass 100 crore daily transactions by FY27, becoming a dominant form of retail payment.

5. Significant Loan Write-Offs by Indian Banks

  • Scheduled Commercial Banks have written off around ₹10.6 lakh crore over the past five years, largely linked to large industrial firms.
  • These write-offs are part of the ongoing debt recovery process and do not equate to debt forgiveness.

6. ICICI Lombard Launches MaxProtect Insurance Plan

  • ICICI Lombard introduces MaxProtect, a detailed insurance plan with Classic and Premium variants.
  • The plan covers global coverage and unique claim protection while maintaining no-claim bonuses.

About Key Organizations

1. Life Insurance Corporation of India (LIC)

  • Founded on September 1, 1956, with Siddhartha Mohanty as MD, headquartered in Mumbai.

2. SBI Card

  • Led by MD & CEO Abhijit Chakravorty.

3. National Payments Corporation of India (NPCI)

  • Based in Mumbai with Dilip Asbe as MD & CEO.

4. Securities and Exchange Board of India (SEBI)

  • Established on April 12, 1988, its Chairman is Madhabi Puri Buch, headquartered in Mumbai.

5. ICICI Lombard General Insurance Company Limited

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  • Founded in 2001, headquartered in Mumbai, with Sanjeev Mantri as MD & CEO.

International News

1. India’s Financial Support to Kenya

  • India has allocated a $250 million Line of Credit to Kenya for agricultural modernization, strengthening bilateral ties across various sectors.
  • Five agreements were signed, including cooperation in sports and education.

2. New Chief Minister of Telangana: Revanth Reddy

  • Anumula Revanth Reddy, Telangana Congress President, has been appointed as Telangana’s Chief Minister, with the inauguration set for December 7, 2023.
  • Congress won 65 of 119 seats in the Assembly elections, succeeding K Chandrashekar Rao.

3. Leadership Changes in Indian Financial Sector

  • Narayan Sheshadri becomes the chair of India Debt Resolution Co Ltd (IDRCL).
  • Diwakar Gupta resigns from IDRCL and is likely to lead National Asset Reconstruction Co Ltd (NARCL).
  • NARCL faces challenges including delayed government guarantees and banking disagreements.

4. Tarun Bajaj Joins HUL as Independent Director

  • Tarun Bajaj, ex-Revenue Secretary, joins Hindustan Unilever Limited (HUL) as an independent director.
  • He is recognized for his role in enhancing GST and Income Tax collections.

5. SBI’s Stake Acquisition in SBI Pension Funds

  • SBI plans to buy a 20% stake in SBI Pension Funds from SBI Capital Markets, increasing its share to 80% by December 15, 2023.
  • SBI Pension Funds has an AUM of ₹3.83 lakh crore.

6. Captain Geetika Koul’s Milestone in Indian Army

  • Captain Geetika Koul becomes the first female Indian Army medical officer at Siachen, having completed her training at Siachen Battle School.

7. Global Transition to Vo5G

  • The shift from VoLTE to Vo5G/VoNR is occurring globally, offering faster, more reliable service with improved voice quality.

About Relevant Entities

1. Kenya

  • President William Samoei Ruto leads Kenya, with Nairobi as its capital and the Kenyan shilling as its currency.

2. Telangana

  • The state capital is Hyderabad, governed by Tamilisai Soundararajan.

3. IDRCL and NARCL

  • Narayan Sheshadri chairs IDRCL, and Diwakar Gupta is expected to head NARCL.

4. Hindustan Unilever Limited (HUL)

  • Based in Mumbai, led by MD & CEO Rohit Jawa.

5. State Bank of India (SBI)

  • Established on July 1, 1955, its Chairman is Dinesh Kumar Khara, headquartered in Mumbai.
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