Today’s Current Affairs MCQs/ GK MCQs 20th December 2023

These current affairs today are a part of our daily current affairs. We cover a wide range of topics from state, national, and international news that are relevant and important for competitive exams. Our team prepares today’s current affairs after going through many newspapers, such as The Hindu, Indian Express, PIB, PRS, etc.

Scroll down for current affairs for 20th December 2023.

IMF Adjusts India’s Exchange Rate Regime: Stabilized Arrangement Amid Differing Views

• The International Monetary Fund (IMF) has reclassified India’s de facto exchange rate regime, shifting it from “floating” to a “stabilized arrangement” for the period between December 2022 and October 2023. 
• This change follows an Article IV review where the IMF staff differed in opinion from Indian authorities regarding exchange rate stability. 
• Over the past two years, the rupee-dollar exchange rate has seen significant movement, depreciating by around 15% between December 2019 and November 2022. 
• Improved domestic macroeconomic stability, supported by tightened monetary policy, attracted capital inflows over the past year.

Government Notes Drop in Agriculture’s GDP Share to 15% in FY23

• India’s economic landscape has undergone a significant shift over the past few decades, notably with a decline in the share of agriculture in the Gross Domestic Product (GDP). 
• Recent government data reveals that the share of agriculture in India’s GDP fell from 35% in the fiscal year 1990-91 to 15% in 2022-23. 
• Union Agriculture Minister Arjun Munda emphasized that the decline is not due to a reduction in agricultural GVA but stems from the substantial expansion of industrial and service sector GVAs. 
• Despite the decreasing GDP share, the agricultural sector has shown resilience, with an average annual growth of 4% over the last five years, indicating positive growth despite the proportional decline.

SBI’s Market Value Surges to Rs 6 Trillion: A 17% Jump in 1 Month

• Shares of the State Bank of India (SBI) have reached new heights, hitting a record Rs 659.50, marking a significant 17% surge in the past month. 
• This surge has outpaced the market, with S&P BSE Sensex and Nifty 50 up by nearly 9%, and the Nifty PSU Bank index gaining 14% during the same period. 
• The rise in SBI’s stock price reflects positive investor sentiment towards the bank. 
• Investors are showing renewed interest in SBI’s growth potential and long-term prospects, driven by expectations of strong earnings, dividend payouts, and future growth opportunities.

Rise in Unclaimed Deposits in Indian Banks to ₹42,270 Crore – 28% Increase in 2023

• During the ongoing Winter Session, the Indian Parliament revealed a concerning trend in unclaimed deposits in the country’s banking sector. 
• Unclaimed deposits have seen a significant annual increase of 28%, reaching ₹42,270 crore by the end of the last financial year in March 2023. 
• This marks a notable jump from the previous year’s figure of ₹32,934 crore. 
• Public sector banks held the majority of unclaimed deposits, with ₹36,185 crore, while private sector banks had ₹6,087 crore in unclaimed deposits as of March 2023. 
• Unclaimed deposits, defined by the Reserve Bank of India (RBI), refer to balances left inactive in savings or current accounts for 10 or more years. 
• After this period, such deposits are transferred to the RBI’s Depositor Education and Awareness (DEA) Fund.

IndiGo Attains Pinnacle: Conveying 100 Million Travelers Annually

• IndiGo, India’s preeminent air carrier, has reached a momentous feat by emerging as the primary Indian airline to transport a staggering 100 million passengers within a single calendar year. 
• This achievement not only places IndiGo within the exclusive global consortium of carriers operating on such a monumental scale but also cements its standing among the top-10 airlines worldwide, measured by passenger traffic. 
• IndiGo’s triumph is further accentuated by its considerable backlog, anticipating the delivery of nearly 1,000 aircraft over the ensuing decade. 
• The airline’s assertive strategy for fleet expansion positions it favorably for sustained growth and an augmented market share within the fiercely competitive aviation sector.

EU Voices Displeasure Over India’s Rejection of Interim Arbitration in WTO Dispute

• Expressing dissatisfaction, the European Union (EU) laments India’s refusal to partake in interim arbitration aimed at resolving an ongoing dispute related to import duties on specific Information and Communications Technology (ICT) products, including smartphones and components.
• India upholds its stance, contending that interim agreements undermine the right to appeal to a permanent standing body, emphasizing the imperative to reinstate the functionality of the WTO appellate body.
• India defends its decision during the World Trade Organization’s dispute settlement body meeting. 
• As background, the EU filed a complaint in April 2019 against India’s import tariffs on certain ICT products, alleging a violation of India’s WTO commitments. 
• The contested products encompass mobile phones, components, base stations, integrated circuits, and optical instruments.

Insights into JN.1 Variant of the COVID-19 Virus

• The World Health Organization (WHO) issued a cautionary statement on Sunday, December 17, expressing apprehension about the evolving nature of the JN.1 COVID subvariant and the escalating prevalence of respiratory diseases globally. 
• The organization urges member states to prioritize the sharing of genetic sequences and intensify surveillance efforts to gain a better understanding and address the evolving landscape of the virus. 
• JN.1 exhibits distinctive characteristics, spreading more rapidly and displaying the ability to evade immunity. 
• This alarming combination renders it proficient in infecting individuals with prior COVID infections and those who have been vaccinated. 
• In India, JN.1 was identified in Kerala on December 8, with a reported case in a 79-year-old woman exhibiting mild symptoms of Influenza-like Illness (ILI). 
• The country is urged to remain vigilant and implement necessary measures to contain the variant’s spread.

Donald Trump Deemed Ineligible for Presidential Run in Colorado by State’s Supreme Court

• In a groundbreaking ruling, the Colorado Supreme Court, comprised entirely of justices appointed by Democratic governors, declares former U.S. President Donald Trump ineligible for the presidency under the U.S. Constitution’s insurrection clause. 
• The court’s 4-3 decision sets the stage for a legal battle, as Trump’s legal representatives pledge an immediate appeal of the disqualification to the U.S. Supreme Court, which holds the ultimate authority on constitutional matters. 
• The legal challenge revolves around whether the leading contender for the GOP nomination can persist in the race. 
• The court determines that Trump is disqualified from holding the presidency under Section 3 of the 14th Amendment, which prohibits individuals who engaged in insurrection or rebellion against the Constitution from holding office. 
• This decision stems from Trump’s alleged role in inciting the January 6, 2021, attack on the Capitol.

India’s Thermal Coal Imports From The US Hit Over Two-Year High In November

• In November, India saw a significant increase in long-haul thermal coal imports, with shipments from the United States reaching 1.40 million tonnes (MT), the highest level in over a year. 
• According to energy intelligence firm Kpler, India’s total thermal coal imports for the month were 17.51 MT, slightly lower than the 15-month high of 18.66 MT recorded in October 2023. 
• In 2022, Indonesia was India’s largest overseas supplier of thermal coal. 
• However, the US maintained its position as India’s second-largest supplier of coking coal after Australia, as of October 2023. Russia secured the third position in coking coal supplies.

Razorpay and Cashfree Get RBI Nod to Operate as Payment Aggregators

• Payment processing giants Razorpay and Cashfree have received final approval from the Reserve Bank of India (RBI) to operate as Payment Aggregators (PAs). 
• Payment Aggregators (PAs) are entities that help e-commerce sites and merchants accept various payment instruments from customers, simplifying the payment process without requiring merchants to create their systems. 
• In July 2022, Pine Labs, Razorpay, and American payments player Stripe were among the first to receive in-principle approval for the PA license.

States Garner Rs 19,692 Crore in Auction of State Government Securities

• Thirteen states in India took part in an auction of government securities, raising a total of Rs 19,692 crore, slightly exceeding the announced amount of Rs 19,592 crore.
• This is an increase from the previous week when eight states raised Rs 12,100 crore through a similar auction. 
• According to data from the Reserve Bank of India (RBI), Karnataka and Uttar Pradesh led the way, each successfully securing Rs 4,000 crore. 
• Karnataka accomplished this through two papers, raising Rs 2,000 crore with a 15-year paper and a cut-off yield of 7.60%, and another Rs 2,000 crore with a 16-year paper and a cut-off yield of 7.64%.

International Human Solidarity Day 2023

• International Human Solidarity Day, observed annually on December 20th, is significant. Recognized by the UN General Assembly, this day emphasizes the importance of solidarity in fostering global unity and diversity. 
• The specific theme for International Human Solidarity Day 2023 has not been released yet. This day holds immense significance, serving as a platform for nations to reaffirm their commitment to various international agreements. 
• On this day, discussions and events revolve around fostering solidarity, addressing issues such as landmine usage, disaster relief, universal education, poverty eradication, and more.

Israeli Film ‘Children of Nobody’ Wins Golden Bengal Tiger Award

• The 29th Kolkata International Film Festival (KIFF) concluded with a remarkable highlight as the Israeli film ‘Children of Nobody’ secured the prestigious Golden Royal Bengal Tiger Award for Best Film. 
• Inspired by a true story, this compassionate Israeli drama sheds light on often unnoticed individuals on the fringes of society. 
• Written and directed by Erez-Tadmor from Tel-Aviv, the film unfolds the compelling journey of troubled boys compelled to unite to save a shelter for at-risk youth. 
• Not only did the film earn critical acclaim, but it also received the highest cash award given by any film festival globally— a remarkable Rs 51 lakh along with the trophy. 
• This accolade underscores the film’s excellence and showcases the international recognition garnered by Israeli cinema.

MediaTek and Nvidia Collaborate to Power Artificial Intelligence in Cars

• Semiconductor powerhouses MediaTek and Nvidia have recently joined forces in a strategic partnership to bring artificial intelligence (AI) to the forefront of the automotive industry. 
• This collaboration signifies a bold step towards revolutionizing in-car experiences, shaping the evolution of autonomous driving systems, and establishing a new standard for smart vehicles. 
• One primary focus of this collaboration is the seamless integration of AI into autonomous driving systems. 
• Leveraging Nvidia’s deep learning and AI capabilities alongside MediaTek’s advanced system-on-chip (SoC) solutions, the goal is to create a comprehensive platform capable of instantly handling and understanding complex data from cameras, sensors, and other sources.

Gaja Capital Business Book Prize: ‘Against All Odds’ and ‘Winning Middle India’ Declared Joint Winners

• In its 2023 edition, the Gaja Capital Business Book Prize, a prestigious annual award, honored two outstanding stories. “Against All Odds: 
• The IT Story of India” and “Winning Middle India: The Story of India’s New-Age Entrepreneurs” were declared joint winners, capturing the essence of India’s vibrant business scene. 
• Kris Gopalkrishnan, N Dayasindhu, and Krishnan Narayanan authorized the prize. 
• “Against All Odds” intricately weaves together firsthand accounts of distinguished individuals who played a pivotal role in shaping the IT industry. 
• The jury commended the book for its detailed exploration of challenges, triumphs, and transformative moments defining the trajectory of India’s IT sector.

Suzlon and REC Ltd Team Up for Working Capital Support

• Suzlon Group, India’s largest renewable energy solutions provider, has recently signed an agreement with REC Limited, a state-run entity, to secure essential working capital facilities. 
• This partnership aims to strengthen Suzlon’s ability to manage its working capital requirements crucial for executing its current orders and upcoming projects. 
• REC Ltd, classified as a ‘Maharatna’ company under the Ministry of Power, specializes in providing long-term financial solutions to entities in the country’s infrastructure sector. 
• This collaboration marks a renewed effort, as REC Ltd played a vital role in supporting Suzlon’s past initiatives, including debt refinancing, contributing to Suzlon achieving a debt-free status.

Amitabh Bachchan Becomes Owner of Mumbai Team in Indian Street Premier League

• Legendary actor Amitabh Bachchan has revealed his ownership of the Mumbai team in the upcoming Indian Street Premier League (ISPL). 
• This star-studded ownership adds glamour and excitement to the league, which will feature 19 high-intensity matches during its inaugural edition. 
• The six participating teams are Hyderabad, Mumbai, Bengaluru, Chennai, Kolkata, and Srinagar.

Indian Government Warns Public About Smishing Threats

• The Indian government has issued a warning about a new and sophisticated scam called “Smishing,” which exploits text messages to deceive individuals into revealing confidential information. 
• Fraudulent messages may impersonate banks, government agencies, or well-known brands, creating a false sense of urgency to trick recipients into disclosing sensitive personal information. 
• Victims of smishing attacks can report online financial fraud by dialing 1930 and report cybercrime at cybercrime.gov.in.

Senior IPS Officer Maheshwar Dayal Takes Charge as Director General of Prisons

• Senior IPS officer Maheshwar Dayal officially assumed the position of Director General of Prisons and Correctional Services on December 18. 
• With a distinguished career marked by leadership roles across multiple districts and specialized units, Dayal brings a wealth of experience to his new role. 
• Starting as a Superintendent of Police in Virudhunagar, Dayal showcased dedication and leadership in subsequent appointments in The Nilgiris and Nagapattinam districts.

Kakrapar Unit-4 Power Project Achieves Initial Criticality

• The Unit 4 of Kakrapar Atomic Power Project (KAPP 4 – 700 MW) achieved a historic milestone in India’s nuclear power landscape by achieving criticality on December 17, 2023. 
• This signifies the initiation of controlled fission chain reactions and reflects the stringent safety standards set by the Atomic Energy Regulatory Board (AERB). 
• The achievement reinforces the commitment to AtmaNirbhar Bharat, with the reactors designed, constructed, commissioned, and operated by the Nuclear Power Corporation of India Limited (NPCIL).

Accenture Launches Generative AI Studio in Bengaluru

• Accenture, a global leader in professional services, has taken a significant step in the field of artificial intelligence (AI) with the establishment of its Generative AI Studio in Bengaluru, India. 
• This cutting-edge facility is poised to become a central hub for the development and application of generative AI technologies, showcasing Accenture’s commitment to advancing AI solutions for businesses. 
• The studio aims to serve as a collaborative space where Accenture’s data and AI team collaborates with clients to develop solutions based on generative AI, optimizing business processes and facilitating enterprise reinvention.

India Records 112 Deaths in 2022 Due to Tiger Attacks

• Tiger attacks on humans have been a concerning issue in India, with the Centre providing information on the extent of this problem. In 2022 alone, a total of 112 deaths occurred in the country due to tiger attacks. 
• Union Minister Bhupinder Yadav shared these statistics, revealing that Maharashtra witnessed the highest number of deaths, with 85 reported cases. 
• Uttar Pradesh also faced tiger attacks, recording 11 deaths in the same period. The Minister disclosed that over the past five years, a total of 302 people lost their lives in incidents involving tiger attacks.

Google Announces AI-Powered Upgrade for Google Maps in India

• Google Maps, a widely used navigation tool, is set to undergo a transformative upgrade in India with new features leveraging artificial intelligence (AI). 
• In a first-of-its-kind initiative for India, Google plans to introduce the Address Descriptor early next year. 
• This innovation aims to simplify location searches by offering a more intuitive experience, automatically suggesting five landmarks in the vicinity when users drop a pin to share their location.

1. Why did Suzlon Group sign an agreement with REC Limited?

1. To enter the Indian Street Premier League
2. To achieve a debt-free status
3. To provide renewable energy solutions
4. To secure essential working capital facilities.

2. Which legendary actor has become the owner of the Mumbai team in the Indian Street Premier League (ISPL)?

1. Hrithik Roshan
2. Amitabh Bachchan
3. Akshay Kumar
4. Shah Rukh Khan

3. What is the Indian government warning the public about?

1. Phishing threats
2. Smishing threats
3. Email scams
4. Online shopping fraud

4. Who officially assumed the position of Director General of Prisons and Correctional Services?

1. Akshay Kumar
2. Maheshwar Dayal
3. Bhupinder Yadav
4. Amitabh Bachchan

5. What milestone did the Unit 4 of Kakrapar Atomic Power Project achieve?

1. Initial Public Offering
2. Controlled fission chain reactions
3. First nuclear fusion
4. Carbon neutrality

6. What does Accenture’s Generative AI Studio in Bengaluru aim to become?

1. A shopping mall
2. A tourist attraction
3. A central hub for AI development
4. A traditional art gallery

7. How many deaths occurred in India in 2022 due to tiger attacks?

1. 85
2. 112
3. 302
4. 202

8. What transformative upgrade is Google Maps set to undergo in India?

1. Introduction of virtual reality features
2. Integration of social media platforms
3. Implementation of blockchain technology
4. New features leveraging artificial intelligence (AI)

9. What is the purpose of the collaboration between Suzlon Group and REC Limited?

1. To explore space travel opportunities
2. To launch a new movie production company
3. To strengthen working capital for renewable energy projects
4. To organize a national sports event

10. What recent change has the International Monetary Fund (IMF) made regarding India’s exchange rate regime?

1. Shifted from “floating” to “stabilized arrangement”
2. Moved from “stabilized arrangement” to “floating”
3. Maintained a “floating” exchange rate regime
4. Implemented a fixed exchange rate regime

Today’s Current Affairs MCQs/ GK Quiz 19th December 2023