Daily Current Affairs December 27

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs December 27. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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December 27 | Daily Current Affairs 2023

Important Days – Daily Current Affairs December 27

1. When is the International Day of Epidemic Preparedness observed?
A) December 25
B) December 26
C) December 27
D) December 28
E) December 29
Answer: C) December 27

• The first ever International Day of Epidemic Preparedness, being held on 27 December 2020.
• It was called for by the United Nations General Assembly to advocate the importance of the prevention of, preparedness for and partnership against epidemics.
• Epidemic refers to the rapid spread of disease to a large number of people in a given population within a short span of time.
• The term generally refers to contagious diseases like influenza; vector-borne infections like malaria; water-borne diseases such as cholera; and sexually transmitted diseases such as HIV/AIDS
• Epidemic is declared when the rate of infection crosses a certain threshold of disease prevalence.

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Banking and Finance – Daily Current Affairs December 27

2. What does an Initial Public Offering (IPO) enable a company to do?
A) Merge with other companies
B) Lower its stock prices
C) Trade its shares privately
D) Raise equity capital from public investors
E) Increase its debt capital
Answer: D) Raise equity capital from public investors

• State-owned Canara Bank has, in-principle, approved to initiate the process of listing its mutual fund subsidiary, Canara Robeco Asset Management Company Ltd, in the stock exchanges.

Initial Public Offer (IPO):

• An initial public offering (IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance for the first time.
• An IPO allows a company to raise equity capital from public investors.

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3. Who has been approved as the part-time Chairman of Kotak Mahindra Bank by the Reserve Bank of India (RBI)?
A) Uday Kotak
B) Dipak Gupta
C) C S Rajan
D) Prakash Apte
E) Anand Mahindra
Answer: C) C S Rajan

• The Reserve Bank of India (RBI) has approved the appointment of C S Rajan as the part-time Chairman of Kotak Mahindra Bank for a period of two years, effective 1 st January 2024.
• The incumbent part-time Chairman, Prakash Apte’s term expires on 31st December 2023.

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4. What is the purpose of the new licensing framework introduced by the Reserve Bank of India (RBI) under the Foreign Exchange Management Act (FEMA)?
A) Regulating the export-import industry
B) Facilitating international trade agreements
C) Authorizing persons to become money changers
D) Controlling inflation rates
E) Managing foreign investments
Answer: C) Authorizing persons to become money changers

• The Reserve Bank of India (RBI) has recently set the ball rolling for the licensing framework for authorised persons under the Foreign Exchange Management Act (FEMA).
• A new set of rules are being drafted to give permission to authorised persons to become money changers.
• In order to enhance the ease of doing business, the Reserve Bank of India has proposed to introduce a new category of money changers (under the scheme namely Forex Correspondents Scheme).
• These money changers may conduct “Money changing business through any agency model by becoming forex correspondents of Category-I and Category-II authorised dealers.
• A general permission will be available to the forex correspondents and to any customer dealing with them to deal in foreign exchange as permitted under the FCS.
• The forex correspondents will be permitted to buy and sell foreign currency notes/ travellers’ cheques for foreign private and business travel.
• They will be allowed the distribution of forex prepaid cards in accordance with the terms and conditions stipulated by the principal AD.

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5. What is the name of the country’s first corporate credit card on the RuPay network launched by IndusInd Bank?
A) eGold
B) eSvarna
C) ePlatinum
D) eDiamond
E) eTitanium
Answer: B) eSvarna

• IndusInd Bank has launched ‘eSvarna’, the country’s first corporate credit card on the RuPay network, enabling the private sector lender to become the first to integrate UPI functionality with a corporate credit card.
• The card facilitates smooth transactions at merchant outlets and allows users the flexibility to make UPI payments by linking the card with UPI-enabled apps.
• “The launch of ‘eSvarna,’ the country’s inaugural corporate card on RuPay, represents a significant step for corporate clients to access unique corporate offerings, benefits, and seamless UPI-enabled payments. This will elevate the overall experience for large corporates and their employees, delivering an unparalleled user experience marked by simplicity and efficiency.
• Cardholders can avail complimentary lounge access and fuel surcharge waiver.
• Corporate travellers can receive the added benefit of comprehensive travel insurance coverage and an exclusive rewards program meticulously crafted for corporate entities and business transactions.

RuPay:

• RuPay is an Indian multinational financial services and payment service system, conceived and launched by the National Payments Corporation of India (NPCI) in 2014.
• It was created to fulfil the Reserve Bank of India’s (RBI) vision of establishing a domestic, open and multilateral system of payments.
• RuPay facilitates electronic payment at all Indian banks and financial institutions.

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Business and Economy – Daily Current Affairs December 27

6. What is the significance of the extended partnership between Coca-Cola and the ICC in terms of duration?
A) 10 years
B) 12 years
C) 13 years
D) 15 years
E) 20 years
Answer: C) 13 years (2019-2031)

• Beverage major Coca-Cola announced that it has extended its partnership with the International Cricket Council (ICC) for an eight-year period, encompassing ICC World events across all three formats, up until the end of 2031.
• This eight-year partnership as a Global Partner of the ICC confirmed the collaboration as one of the longest-ever associations formed by the ICC with a single brand, spanning a total timeline of 13 years (2019-2031).
• The agreement includes all men’s and women’s events at the pinnacle of the sport including the ICC Cricket World Cups, ICC T20 World Cups, and ICC Champions Trophies through to the end of 2031.

Upcoming Events:

• Men’s T20 World Cup will be held in the USA and West Indies.
• Women’s T20 World Cup will be held in Bangladesh.

Note:

• During the recent ICC Men’s Cricket World Cup India 2023, Thums Up and Limca Sportz were the exclusive beverage and sports drink partners.
• Additionally, Sprite leveraged on the tournament with its ‘Thand rakh’ campaign.
• The recent association of Thums Up with the Olympics and Paralympics in India is a testimony to the Company’s belief in sports.

International Cricket Council:

• The International Cricket Council (ICC) is the global governing body of cricket.
• It was founded as the Imperial Cricket Conference in 1909 by representatives from Australia, England, and South Africa.
• It was renamed as the International Cricket Conference in 1965 and adopted its current name in 1987.
• Members: 108 Countries
• HQ: Dubai, UAE
• Chairman: Greg Barclay

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Acquisitions and Mergers – Daily Current Affairs December 27

7. Who are the entities involved in the acquisition of control/stake in Reliance Capital Limited?
A) Reliance Industries Limited and Adani Group
B) IndusInd International Holdings Limited, IIHL BFSI (India) Limited, and Aasia Enterprises LLP
C) State Bank of India and HDFC Bank
D) Tata Group and Mahindra Group
E) ICICI Bank and Axis Bank
Answer: B) IndusInd International Holdings Limited, IIHL BFSI (India) Limited, and Aasia Enterprises LLP

• The Competition Commission of India (CCI) has approved acquisition of the control/stake in Reliance Capital Limited by IndusInd International Holdings Limited, IIHL BFSI (India) Limited, and Aasia Enterprises LLP.
• IIHL, IIHL BFSI, and Aasia shall be hereinafter jointly referred to as the Acquirer.
• Target is undergoing insolvency resolution proceedings initiated under the Insolvency and Bankruptcy Code (IBC).
• IIHL is a Global Business License (Category 1) licensee company incorporated in the Republic of Mauritius and regulated by Mauritius’s Financial Services Commission.
• RCL is registered as a Non-Banking Financial Company Core Investment Company (CIC) – Non-Deposit Taking Systemically Important (NBFC-CIC-ND-SI) under Section 45-IA of the Reserve Bank of India Act, 1934

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Appointments – Daily Current Affairs December 27

8. Which sports entrepreneur became the first Indian to be inducted as a governing board member of the ITTF Foundation?
A) Anju Bobby George
B) Vita Dani
C) Nita Ambani
D) Abhinav Bindra
E) Pullela Gopichand
Answer: B) Vita Dani

• Sports entrepreneur Vita Dani has become the first Indian to be inducted as a governing board member of the International Table Tennis Federation’s (ITTF) Foundation.
• The Foundation was established in 2018 by the ITTF to attract more people to the sport.
• Vita and her organisation (Dani Foundation) have played a big role in shaping the upward trajectory of Indian table tennis.
• She is also the co-owner of the Chennaiyin Football Club, which features in the Indian Super League.

International Table Tennis Federation:

• The International Table Tennis Federation (ITTF) is the governing body for all national table tennis associations.
• The role of the ITTF includes overseeing rules and regulations and seeking technological improvement for the sport of table tennis.
• Founded: 1926.
• HQ: Lausanne, Switzerland.
• President: Petra Sorling.

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International Affairs – Daily Current Affairs December 27

9. Who did Santosh Jha replace as the High Commissioner of India to Sri Lanka?
A) Vikram Misri
B) Ranil Wickremesinghe
C) Gopal Baglay
D) Navdeep Suri
E) Harsh Vardhan Shringla
Answer: C) Gopal Baglay

• India’s new High Commissioner to Sri Lanka Santosh Jha has assumed charge and presented his credentials to President Ranil Wickremesinghe in Colombo.
• He has earlier served as Ambassador of India to Uzbekistan from 2019-2020 and as the Deputy Chief of Mission at the Indian Embassy in Washington DC from 2017-2019.
• Jha replaces Gopal Baglay, who has been appointed as the next High Commissioner of India to Australia.

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National Affairs – Daily Current Affairs December 27

10. According to the Budget 2018-19, what principle does the government follow in fixing the MSP for agricultural produce, including copra?
A) 1.0 times the cost of production
B) 1.2 times the cost of production
C) 1.3 times the cost of production
D) 1.4 times the cost of production
E) 1.5 times the cost of production
Answer: E) 1.5 times the cost of production

• The Cabinet Committee on Economic Affairs (CCEA) approved hike in minimum support prices (MSPs) for copra for 2024 season by Rs 250-300 per quintal from current season.
• The MSP for fair average quality of milling copra has been fixed at Rs 11,160/quintal — up three per cent from Rs 10,860 in 2023 and for ball copra at Rs 12,000, up two per cent from Rs 11,750/quintal for 2023 season.
• The announced MSP of copra for 2023 season is in line with the principle of fixing the MSP at a level of at least 1.5 times all India weighted average cost of production as announced by the Government in the Budget 2018-19.
• National Agricultural Cooperative Marketing Federation of India (Nafed) and National Cooperative Consumers’ Federation (NCCF) will continue to act as nodal agencies for procurement of copra and de-husked coconut directly from farmers under Price Support Scheme (PSS) when market rates fall below MSPs.
• In the current 2023 season, the government has procured a record 1.33 lakh tonnes of copra, at the cost of Rs 1,493 crore, benefiting around 90,000 farmers.
• The procurement has increased by 227 per cent from the 2022 season.

Note:

• Milling copra is used to extract oil, while ball/edible copra is consumed as a dry fruit and used for religious purposes.
• Kerala and Tamil Nadu are major producers of milling copra, whereas ball copra is produced predominantly in Karnataka.

National Agricultural Coperative Marketing Federation of India (NAFED):

• National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) is an apex organization of marketing cooperatives for agricultural produce in India.
• It is registered under Multi State Co-operative Societies Act.
• NAFED is now one of the largest procurement as well as marketing agencies for agricultural products in India.
• NAFED along with FCI with proactive role of state governments also physically procures oilseeds, pulses and copra under the Price Support Scheme (PSS) which in turn is under the umbrella scheme of PM-AASHA.
• In 2008, it established, National Spot Exchange, a Commodities exchange as a joint venture of Financial Technologies (India) Ltd. (FTIL).
• HQ: New Delhi
• Chairman: Dr Bijender Singh

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11. What is the proposed investment for the bio-fertilizer and bio-pesticide facility set up by IPL Biologicals in Gujarat?
A) Rs 200 crore
B) Rs 300 crore
C) Rs 400 crore
D) Rs 500 crore
E) Rs 600 crore
Answer: C) Rs 400 crore

• IPL Biologicals signed a Memorandum of Understanding (MoU) with the Gujarat government for setting up a Rs 400 crore bio-fertilizer and bio-pesticide facility in Gujarat.
• The major focus of the first phase of production will be on the company’s agriculture products, followed by probiotics and enzyme products.
• The project shall be on reducing chemical usage in the agribusiness sector and providing safe food production to the world.
• The development and operational commencement of IPL Biologicals’ agro-biological production facility is scheduled for mid-2025

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12. What milestone has India achieved in digital payments, during the launch of the MY Bharat campaign?
A) Third-largest economy in digital payments
B) Fourth-largest economy in digital payments
C) Fifth-largest economy in digital payments
D) Sixth-largest economy in digital payments
E) Second-largest economy in digital payments
Answer: C) Fifth-largest economy in digital payments

• Union Minister Anurag Singh Thakur launched MY Bharat campaign.
• By introducing digital payments, India has become the fifth-largest economy and has registered 48 percent of such payments in the world.
• The country which had just 500 startups in 2014 has grown up to be the third-largest country that has an ecosystem for start-ups.
• India has surpassed UK and has become the fifth largest in the world.
• Earlier India was importing 90 percent of its mobile handsets, it is now exporting over 80 percent of them.
• Manufacturing drones or Garuda will help women SHGs for spraying nano fertilizers and pesticides.

MY Bharat Campaign:

• This campaign was launched by PM Narendra Modi on October 31, Ekta Diwas.
• MY Bharat is a one stop center for connecting the young among themselves and with the schemes of the country, so that they get the maximum opportunity to realize their potential.

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13. What is the objective of the Migration and Mobility Agreement between the Government of India and the Government of the Italian Republic?
A) Strengthening military cooperation
B) Facilitating trade agreements
C) Enhancing people-to-people contacts and fostering mobility
D) Improving diplomatic relations
E) Promoting cultural exchanges
Answer: C) Enhancing people-to-people contacts and fostering mobility

• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its ex-post facto approval to the proposal of Ministry of External Affairs to sign and ratify the Migration and Mobility Agreement between the Government of the Republic of India and the Government of the Italian Republic.
• The Agreement would enhance people-to-people contacts, foster mobility of students, skilled workers, business people and young professionals and strengthen cooperation on issues related to irregular migration between the two sides.

Some of the key provisions are listed below:

• Indian students wishing to gather initial professional experience, after completing academic/vocational training in Italy may be granted temporary residence in Italy for up to 12 months.
• The Italian side has detailed provisions related to Professional Training, Extracurricular Internships and Curricular Internships which allow Indian students/trainees to gain experience in Italian skill/training standards.
• For workers, the Italian side has reserved a quota of 5000, 6000 and 7000 non seasonal Indian workers for 2023, 2024 and 2025 under the current Flows Decree (Total reserved quota stands at 12000 for non-seasonal workers).
• Additionally, the Italian side has reserved a quota of 3000, 4000 and 5000 seasonal Indian workers for 2023, 2024 and 2025 under current Flows Decree (Total reserved quota stands at 8000 for seasonal workers)

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14. What decision has the Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved regarding India’s diplomatic representation in New Zealand?
A) Closing an existing Consulate General
B) Establishing a new Embassy in Wellington
C) Opening a Consulate General in Auckland
D) Upgrading the existing High Commission
E) Forming a joint diplomatic mission with another country
Answer: C) Opening a Consulate General in Auckland

• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the proposal to open of a Consulate General of India in Auckland, New Zealand.
• It would help in increasing India’s diplomatic footprint and strengthen India’s diplomatic representation in view of India’s increasing global engagement.
• This will also help promote India’s strategic and commercial interests and better serve the welfare of Indian community in Auckland
• Note: A consul is an official representative of a government who resides in a foreign country to assist and protect citizens of the consul’s country, and to promote and facilitate commercial and diplomatic relations between the two countries.

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15. Where will the new 6-lane high-level cable-stayed bridge be constructed, according to the Cabinet Committee on Economic Affairs’ approval?
A) Across Yamuna River
B) Across Brahmaputra River
C) Across Godavari River
D) Across River Ganga (parallel to the existing Digha-Sonepur Rail-Cum Road Bridge)
E) Across Sabarmati River
Answer: D) Across River Ganga (parallel to the existing Digha-Sonepur Rail-Cum Road Bridge)

• The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi, gave its approval for the Construction of New 4556 m long, 6-Lane High Level/ Extra Dosed Cable stayed Bridge across River Ganga (Parallel to Western Side of Existing Digha-Sonepur Rail-Cum Road Bridge).
• It approaches on both sides in the Districts of Patna and Saran (NH-139W) in the State of Bihar on EPC mode.
• The Total cost for the project is Rs.3,064.45 crore which includes civil construction cost of Rs.2,233.81 crore.
• The Bridge will make the traffic faster and easier resulting in overall development of the State, especially North Bihar.
• The Bridge will connect two Districts namely Patna at Digha on South side and Saran on North Side across River Ganga, Bihar.
• This bridge will provide direct connectivity from Patna to Golden quadrilateral corridor via NH-139 at Aurangabad and Sonepur (NH-31), Chhapra, Motihari (East-West corridor old NH-27), Bettiah (NH-727) in the Northern side of Bihar.
• This Project is a part of Buddha circuit.
• lt provides better connectivity to Buddha Stupa at Vaishali and Keshariya.
• Also, NH-139W provides connectivity to very famous Areraj Someshwar Nath Temple and proposed Viraat Ramayan Mandir (largest religious monument in the world) at Kesariya in the East Champaran District.
• This project is falling in Patna and will provide better connectivity to North Bihar and South part of the Bihar through State Capital.
• The work is to be implemented on EPC Mode with the use latest technology like 5D-Building Information Modelling (BIM), Bridge Health Monitoring System (BHMS), monthly drone mapping to ensure quality of construction and operations.

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16. Who released the commemorative Postal Stamp to mark 50 years of the music festival ‘Pandit Motiram Pandit Maniram Sangeet Samaroha’?
A) Prime Minister Narendra Modi
B) External Affairs Minister S. Jaishankar
C) Union Home Minister and Minister of Cooperation Amit Shah
D) Minister of Information and Broadcasting Anurag Thakur
E) Minister of Culture G. Kishan Reddy
Answer: C) Union Home Minister and Minister of Cooperation Amit Shah

• Union Home Minister and Minister of Cooperation, Shri Amit Shah released a commemorative Postal Stamp, to mark 50 years of Pandit Jasraj’s music festival – ‘Pandit Motiram Pandit Maniram Sangeet Samaroha’, in New Delhi.
• The commemorative stamp has been brought out by the Department of Post, Ministry of Communications, Government of India.
• Pandit Jasraj ji has immortalised Indian classical, Pushtimargiya music and Bhakti Pad of Vaishnav tradition for over 8 decades for the music lovers of whole world.
• This music festival was started by Pandit Jasraj ji in 1972 to musically express love to the only memory he had of his Father, Sangeet Ratna Pandit Motiram ji.
• During his lifetime, for 47 years, without a single break, Pandit Jasraj ji hosted this annual Sangeet Samaroh himself.
• It is the oldest festival of Hyderabad, and this legacy is carried forward by Pandit Jasraj Cultural Foundation.
• For this unique contribution he was called “Son of Hyderabad”

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17. What has the Cabinet Committee on Economic Affairs approved regarding road infrastructure in Tripura?
A) Construction of a new expressway
B) Improvement & Widening of NH-208
C) Installation of toll booths on national highways
D) Building a bridge over the Brahmaputra River
E) Development of a new metro system
Answer: B) Improvement & Widening of NH-208

• The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has given its approval for Improvement & Widening to two lane with paved shoulder of road from km 101.300 (Khowai) to km 236.213 (Harina) of NH-208, covering a total length of 134.913 kms in the State of Tripura.
• The project involves investment of Rs.2,486.78 crore which includes a loan component of Rs.1,511.70 crore (JPY 23,129 Million).
• The loan assistant will be from Japan International Cooperation Agency (JICA) under Official Development Assistance (ODA) scheme.
• The project is envisaged to facilitate better road connectivity between various parts of Tripura and to provide alternative access to Assam and Meghalaya from Tripura apart from existing NH-8.

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