Correct Answer :   28%

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In a revelation during the ongoing Winter Session, the Indian Parliament disclosed a concerning trend in unclaimed deposits within the country’s banking sector. The unclaimed deposits have witnessed a substantial 28% annual rise, reaching a staggering ₹42,270 crore by the end of the last financial year in March 2023. This marks a significant jump from the previous year’s figure of ₹32,934 crore.


Breakdown of Unclaimed Deposits :

Public sector banks accounted for the majority of unclaimed deposits, with a substantial ₹36,185 crore, while private sector banks held ₹6,087 crore in unclaimed deposits as of March 2023.


Definition by RBI :

Unclaimed deposits, as defined by the Reserve Bank of India (RBI), refer to balances left in savings or current accounts that have remained inactive for 10 or more years. Following this period, such deposits are to be transferred to the RBI’s Depositor Education and Awareness (DEA) Fund.

RBI’s Initiatives and Measures :

* The RBI has actively addressed the issue by directing banks to display lists of unclaimed deposits on their websites, particularly in accounts inactive for a decade or more. The aim is to locate the account holders or their legal heirs, facilitating the rightful return of unclaimed deposits.

* In addition, the RBI has introduced the Unclaimed Deposits Gateway to Access Information (UDGAM), a centralized web platform. UDGAM enables the search for unclaimed deposits across various banks, streamlining the process of tracing original account holders.


RBI’s ‘100 Days 100 Pays’ Campaign :

In a proactive move to reduce unclaimed deposits, the RBI launched the ‘100 Days 100 Pays’ campaign. Thirty-one major banks, constituting over 90% of unclaimed deposit balances with the DEA Fund, participated in the campaign. As a result, a substantial amount of ₹1,432.68 crore has already been refunded to rightful claimants, showcasing the effectiveness of this initiative.

Correct Answer :   15%

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India’s economic landscape has witnessed a significant transformation over the past few decades, marked by a notable decline in the share of agriculture in the Gross Domestic Product (GDP).

According to recent government data, the share of agriculture in India’s GDP dropped from 35% in the fiscal year 1990-91 to 15% in 2022-23. This shift can be attributed to the rapid growth experienced by the industrial and service sectors during this period.


Factors Behind the Decline: A Focus on Industrial and Service Sectors :

Union Agriculture Minister Arjun Munda, in a written reply to Lok Sabha, shed light on the factors contributing to this decline. He emphasized that the decrease in the share of agriculture in the Gross Value Added (GVA) of the economy is not a result of a reduction in agricultural GVA but rather stems from the remarkable expansion of the industrial and service sector GVAs.


Global Context: Aligning with International Trends :

Munda further contextualized the situation by noting that the decline in the share of agriculture in GDP aligns with global trends. Drawing a parallel with international experiences, he highlighted that the share of agriculture in the world’s GDP has also dwindled over the decades and currently stands at around 4% in recent years.

Agricultural Growth Amidst Economic Shifts :

Despite the declining share in GDP, the agricultural and allied sector has demonstrated resilience, registering an average annual growth of 4% over the last five years. This indicates that while agriculture’s contribution to the overall economy may be diminishing proportionately, the sector is still experiencing positive growth.


Government Initiatives: Nurturing Agricultural Prosperity :

In response to the changing dynamics, the government has implemented a series of developmental programs, schemes, and reforms aimed at enhancing agricultural productivity, resource use efficiency, and sustainability. Minister Munda highlighted these initiatives, emphasizing the government’s commitment to ensuring remunerative prices for farmers and strengthening agricultural infrastructure.


PM-KISAN Scheme: A Beacon of Support :

One significant initiative is the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, launched in 2019. This income support program provides Rs 6,000 annually to eligible farmers in three equal installments. Minister Munda proudly stated that, as of November 30, 2023, more than Rs 2.81 lakh crore has been disbursed to over 11 crore farmers under this scheme.

Correct Answer :   Bengaluru

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Accenture, a global leader in professional services, has taken a significant stride 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.


Purpose of the AI Studio :

The primary objective of the Generative AI Studio is to serve as a collaborative space where Accenture’s data and AI team collaborates with clients in the development of solutions based on generative AI. Accenture envisions these solutions as powerful tools to optimize business processes and facilitate the reinvention of enterprises.


Role of Generative AI in Business Optimization :

Generative AI, a transformative type of artificial intelligence, plays a pivotal role in this context. It has the capability to generate new data that closely resembles the training data it has been exposed to. According to Senthil Ramani, Global Lead – Data & AI at Accenture, the studio aims to assist clients in prioritizing capabilities across the entire value chain, enabling them to scale their AI investments and optimize business processes effectively.

Increasing Investment in AI :

The establishment of the Generating AI Studio aligns with a broader industry trend of heightened investment in AI. A recent survey conducted by Accenture revealed that 74% of C-suite executives plan to increase their AI-related spending in 2024, marking a significant uptick from 50% in the previous year. This underscores the growing recognition of AI as a transformative force in shaping the future of businesses.


Services Offered by the Studio :

The Generation AI Studio in Bengaluru offers a comprehensive suite of services aimed at empowering clients to harness the potential of generative AI. These services include:

Strategic Investment and Technological Advancements :

The Bengaluru studio is a crucial component of Accenture’s $3 billion investment in data and AI. Leveraging strategic investments made in Accenture’s Centre for Advanced AI, the studio taps into Accenture’s extensive intellectual property with over 1,450 pending and issued patents in AI. Drawing insights from more than 300 active generative AI projects, Accenture is well-positioned to drive innovative and deliver impactful solutions through its Generative AI Studio.

Correct Answer :   57

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The Uttar Pradesh Cabinet on Tuesday (19th Dec 2023) approved the setting up of cyber crime police stations in 57 districts of the state, including Ghaziabad, Raebareli, Sitapur, Hardoi, Kanpur Dehat, Etawah, Baghpat, Barabanki, Mainpuri and Rampur.

So far, such police stations have been set up at the division level and there are 18 of them, under the Inspector General of Police.

The district-level cyber crime police stations would be under the Superintendent of Police.

“Due to the rise in cases of cyber crime in the state, there is a need for specialised police stations in all the 75 districts of the state. While cyber crime police stations are already operational in the 18 divisional headquarters, a significant decision has been made to establish such stations in the remaining 57 districts,” said Finance and Parliamentary Affairs Minister Suresh Khanna after the Cabinet meeting, chaired by Chief Minister Yogi Adityanath.

The cost of setting up these police stations would cost the state exchequer over Rs 125 crore.

Claiming that Uttar Pradesh leads the country in terms of convictions in cyber crime cases, Khanna said, “Our conviction rate is much better than the national average. The national conviction rate in cyber crime cases is 46.5 per cent, whereas our conviction rate is 87.8 per cent. So far, there have been 838 convictions in the state, whereas Madhya Pradesh, which is at second place, has had only 59 convictions.

A total of 7,122 criminals have been arrested in the state, while 2,582 in Maharashtra. In 2022, Uttar Pradesh has registered 10,117 cybercrime cases.”.


Source : Indian Express

Correct Answer :   IIT Kanpur

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The Indian Institute of Technology, IIT Kanpur and the Indian Navy have formally entered into a Memorandum of Understanding (MoU) at the Naval Headquarters in New Delhi.

The agreement signifies their mutual dedication to advancing technology development, fostering innovative solutions, and collaborating on joint research and development initiatives.

Rear Admiral K Srinivas, Assistant Chief of Material (Dockyard & Refits), and Professor S Ganesh, Director of IIT Kanpur, were the signatories of this MoU.


Enhancing Capacity Building and Training :

The MoU serves as a comprehensive framework, laying the groundwork for both entities to intensify capacity building efforts. The collaboration envisions tackling real-world challenges faced by the Indian Navy through the exchange of faculty and guest lectures. This not only promotes the sharing of knowledge but also contributes to the effectiveness of training progress. The structured partnership targets the enhancement of training modules and solutions to field-level issues, setting the stage for a symbolic relationship between academia and the armed forces.

Focus on Joint Research and Development :

A pivotal aspect of this collaboration is the emphasis on joint Research and Development initiatives. Teams from the Centre of Excellence (Marine Engg.) at INS Shivaji, Lonavla and IIT Kanpur will collaborate on cutting-edge projects. This strategic alignment of academic and naval expertise aims to drive technological innovations, pushing the boundaries of what is achievable in the maritime domain. The synergy between these institutions promises breakthroughs in marine engineering and related fields, fostering advancements that are crucial for national security.


IIT Kanpur’s Dedication to National Defense :

Prof. S. Ganesh, Director of IIT Kanpur, expressed the institute’s dedication to advancing knowledge and fostering strategic partnerships for the benefit of the nation’s defense capabilities. Recognized for its cutting-edge research and technological advancements, IIT Kanpur is poised to contribute significantly to addressing the complex challenges faced by the Indian Navy. The collaboration signifies a commitment to leveraging academic expertise to find practical solutions that enhance the operational effectiveness of the naval forces...


Source : India Today

Correct Answer :   Asian Development Bank

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The Government of India and Asian Development Bank (ADB) on 15th December 2023 signed agreement for a 37 billion Japanese Yen ($250 million) loan that will continue financing the construction of the 82-kilometre Delhi-Meerut Regional Rapid Transit System (RRTS) corridor.

The signatories to the loan agreement were Ms. Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance, for the Government of India, and Mr. Hoe Yun Jeong, Deputy Country Director, and Officer-in-Charge of the India Resident Mission, for ADB.

Earlier, ADB had approved a $1,049 million Multi-tranche Financing Facility (MFF) for the project in 2020 to support construction of RRTS, the first of three priority rail corridors planned under the NCR Regional Plan 2021, to connect Delhi to other cities in adjoining states.

The RRTS will have multi-modal hubs to ensure smooth interchange with other transport modes. The first tranche of the ADB loan amounted to $500 million with another $500 million co-financed by AIIB.

After signing the loan agreement, Ms. Mukherjee stated that the investment project will enable the RRTS to improve urban mobility, and the project’s economic impacts will also benefit women and the differently abled.

“ADB financing is helping the construction of the corridor which will allow people to travel by a low carbon and efficient railway system and save millions of tons of CO2 emissions and play a significant role in climate change mitigation,” said Mr. Jeong.

Passing through the populated sections of the national capital region, the 82-km corridor will provide fast, safe, and high-capacity commuter transit services, expanding economic and employment opportunities in the region by cutting travel time from 3-4 hours to about 1 hour...


Source : PIB

Correct Answer :   Raman Singh

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Former chief minister of Chhattisgarh Raman Singh was on Tuesday (19th Dec 2023) elected as the Speaker of the Legislative Assembly. Outgoing speaker and present Leader of Opposition Charan Das Mahant moved the proposal for the election of Singh as the Speaker and Chief Minister Bhupesh Baghel as well as other MLAs gave their mandate to the BJP leader.

After taking oath as the Chhattisgarh Assembly Speaker, Singh said, “I shall discharge my responsibility to the best of my ability. I congratulate all MLAs.”

Describing himself as an ordinary worker of the BJP, Singh added, “I would like to thank Atal Bihari Vajpayee ji who made this state. We will carry forward the principles and traditions of Guru Ghasidas ji”.

After Singh’s election, Chhattisgarh Chief Minister Vishnu Deo Sai said, “I congratulate all MLAs. I thank Charan Das Mahant and CM Bhupesh Baghel who continued with the tradition. He has been an MLA, MP, and a Union minister. It’s my pleasure to work with him.”

As a mark of respect, Congress leader Mahant walked with Singh, the three-time chief minister of Chhattisgarh, to the Speaker’s seat.

While congratulating Singh later, Mahant said, “The Opposition (35 Congress MLAs and one MLA from the Gondwana Gantantra Party) has chosen you which shows our culture. In the Assembly, it is not important if we are the ruling party or the Opposition, it is important to be fair. We were good friends when we both were Members of Parliament. You are a good human being and your love for Chhattisgarh is known”.

Outgoing chief minister Bhupesh Baghel said, “Mahant ji used to be fair with the BJP MLAs, whose number came down from 15 to 13. We are 35 MLAs, not less, and hope the tradition will continue.”

In the recently concluded Chhattisgarh Assembly elections, the BJP, which was decimated in the 2018 state poll by winning just 15 seats, smoothly sailed back to power with 54 seats.

Singh, who became a seven-time MLA from Rajnandgaon in 2023, is the longest-serving chief minister of Chhattisgarh. He held the post from the first Chhattisgarh Assembly election in 2003 until 2018 when the BJP faced its worst-ever defeat amid anti-incumbency sentiments and won just 15 seats.

The 71-year-old, who holds a Bachelor of Ayurveda, Medicine, and Surgery degree, began his political career in college and won his first election as a councillor in 1983. In 1999, Singh, who was by then a two-time MLA, contested and won the Lok Sabha elections.

In 2003, the Bharatiya Janata Party chose him to lead the party after which Singh resigned as the Union minister and contested the state polls.

He is known as “Chawal wale Baba” for his rice procurement initiative and for putting the Public Distribution System (PDS) in place.

The Congress party, which had a tally of 71 MLAs, came down crashing to 35 seats, their lowest tally since the formation of Chhattisgarh..


Source : Indian Express

Correct Answer :   19th December

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The 'Goa Liberation Day' is celebrated to commemorate the liberation of the state from Portuguese rule in the year 1961. On this unique day, there is a sense of pride and independence in the air as the golden sun rises over the beautiful state of Goa.

Liberation Day in Goa is a historic event that resonates with resilience and freedom. It's a moment to celebrate and remember how the people of Goa united for freedom and harmony. Every year, Goans unite to celebrate this historic occasion with enthusiasm and joy as it represents the victory of the people's will over colonial tyranny. From history to significance, here's all you need to know about this day.

Goa Liberation Day 2023: Date and history

Goa, Daman and Diu Liberation Day will be observed with great pomp and enthusiasm on Tuesday (19 December 2023). On this day in 1961, the Indian Army captured Goa, which had been under Portuguese rule for some 451 years Goa was also somewhat influenced by the Indian independence movement of the 19th century, though not significantly. In the 1940s, a small number of Goan citizens participated in Satyagraha.

As Goa was culturally and religiously distinct from the rest of India, the Portuguese refused to leave the region even after India gained independence from the British in 1947. The Indian government at the time engaged in a series of diplomatic discussions with the Portuguese, rather than using force, as it was more focused on absorbing the independent princely states. When negotiations failed, the then-Indian government decided to take the military option to annex Goa.

Significance of Goa Liberation Day :

Goa Liberation Day is very important as it marks the official liberation and integration of Goa into the Indian Union in 1961, after centuries of Portuguese colonial rule. This day, which represents the unwavering struggle of the people for freedom, opens a significant period in Goa's history. Celebrated with cultural fervour and national pride, Goa's Liberation Day is a poignant reminder of the region's rich past, unique culture and enduring spirit that define the coastal paradise. It also celebrates the perseverance of its citizens. To commemorate the day, Goa has organised a series of events and programmes. The celebrations included a Youth Parliament and a Women's Parliament in 2021.

Correct Answer :   Egypt

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Egypt’s election authority announced on 18 December 2023 that President Abdel Fattah El-Sisi has secured a third six-year term leading the North African nation.  

* Sisi won another term with 89.6 percent of the vote, the National Elections Authority said.  Over 39 million Egyptians voted for the former army chief, who has ruled the nation for over a decade.  

* This will be Sisi’s final term in office as the Egyptian constitution only allows a president to sit for three terms.  

* He was first sworn into office in 2014 after the overthrow of the country’s first popularly elected president, Mohammed Morsi, and was reelected in 2018, both times winning with over 90 percent of the vote.  

* Egypt’s election took place as the nation is struggling with a slow-burning economic crisis and keeping a long-standing position as a mediator between Palestine and Israel.

* Furthermore, the Egyptian economy has worsened to the point where the International Monetary Fund (IMF) has said they’re “seriously considering” increasing its loans to Egypt.  

* “The conflict is devastating Gaza's population and economy and has severe impacts on the West Bank's economy and is also posing difficulties for neighboring countries Egypt, Lebanon, and Jordan through the loss of tourism and higher energy costs,” IMF Managing Director Kristalina Georgieva had previously said.

* Egypt’s economic struggles can only potentially worsen amid Yemen’s Ansarallah attacks on the Red Sea, forcing ships to take the long route around Africa instead of the Suez Canal – a significant source of income for Egypt.  

* Cairo has also been dealing with Israel’s plan of displacing Palestinians from Gaza into the Sinai desert, with Sisi threatening Israeli Prime Minister Benjamin Netanyahu of rupturing diplomatic ties.  

* Israeli sources told Axios, “The Egyptians expressed anxiety that a crisis on their border with Gaza would result in thousands of Palestinian refugees crossing the border barrier and trying to find shelter in the Sinai.”

* “Displacing Palestinians from the Gaza Strip to Sinai means transferring the conflict and the killings from Gaza to Sinai, where Sinai becomes a base for launching operations against Israel, and in this case, Israel will have the right to defend itself, so it directs its strikes against Egyptian territory...


Source : Thecradle

Correct Answer :   Jagdeep Dhankhar

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Vice-President Jagdeep Dhankhar inaugurated the two-day-long Atal Health Fair in memory of former Prime Minister Atal Bihari Vajpayee at the PNT Ground in Rajajipuram, Lucknow, Uttar Pradesh on Sunday (17th Dec 2023).
 
* Speaking on the occasion, the Vice President said that Atal Bihari Vajpayee led Lucknow and the country for a long time.

* Uttar Pradesh Governor Anandiben Patel, Deputy CM Brajesh Pathak and Member of Parliament in Rajya Sabha Dr Dinesh Sharma also graced the occasion.
 
* The Vice President added that today's youth is getting all the opportunities. Youth just need to take care of their health as without good health you can not perform well and achieve anything. In Amritkaal, Youth has the responsibility to always work with a nation-first approach.

* Akashvani Correspondent reports that 48 Government and private hospitals are holding medical camps at the fair...


Source : AIR