Daily Current Affairs Quiz 27 December, 2024 International Affairs 1. World Bank raises China’s GDP forecast for 2024, 2025 Context:  World Bank sees China’s gross domestic product growth at 4.9 per cent this year, up from its June forecast of 4.8 per cent. China’s GDP in 2024 is  $18.28 trillion (nominal) Comparing GVA and GDP World Bank 2. The Deportation Rates by ICE Context: As per the ICE Fiscal Year 2024 Annual Report, An Indian is deported every six hours in the U. S. Key Highlights: Intercontinental Exchange ICE, established in 2000, is a leading American multinational financial services company that operates global financial exchanges, clearing houses, mortgage technology, data, and listing services. H1B Visa Programme 3. China To Build World’s Largest Dam on the Brahmaputra Contex: Chinese government clears world’s biggest dam construction Key Highlights: India’s Plan on Brahmaputra River: Govt Plans India’s Second-Largest Dam On Brahmaputra at Yingkiong In Arunachal Pradesh, To Counter China’s River Diversion Plans The Brahmaputra The Brahmaputra, a trans-boundary river which flows through Southwestern China, Northeastern India, and Bangladesh. It is the 9th largest river by discharge and 15th longest, also known as Luit in Assamese, Yarlung Tsangpo in Tibetan, Siang/Dihang River in Arunachali. National Affairs 1. Panel to look into issues of settlements in protected areas Context: A three-member team constituted by the Standing Committee of the National Board for Wildlife (NBWL) will inspect Thattekad Bird Sanctuary and the Angel Valley and Pamba Valley settlements of the Periyar Tiger Reserve this week to consider a request of the State government to exclude human settlements in these areas from the respective protected areas. Periyar National Park and Wildlife Sanctuary Pamba Valley Pamba Valley, also known as Kanamala, is a village in the Kottayam district of Kerala, India. Thattekkad Bird Sanctuary The Thattekkad Bird Sanctuary, covering an area of barely 25 km2, and located about 12 km from Kothamangalam (Kerala state, India), was the first bird sanctuary in Kerala. National Board for Wildlife (NBWL) 2. Annual Reports of Competition Commission India CCI Context: The Competition Commission India (CCI) takes into account sector-specific characteristics and the larger economic and policy backdrop to intervene carefully when necessary, the antitrust watchdog said in its annual report. Key Highlights: The Competition Commission of India (CCI) The Competition Commission of India (CCI) is a regulatory body that enforces competition laws and promotes fair market practices in India. 3. Upstream Oil and Gas Companies Call for Budget Review Context: In the runup to the Budget, upstream oil and gas companies have called for a review of the taxes levied on older oil blocks, which account for nearly 90 per cent of domestic production, according to officials from two large exploration and production (E&P) firms. Tax Levied on Different Types of Oil & Gas>> 4. 76 projects sanctioned under Swadesh Darshan Scheme of Tourism Ministry Context: A total of 76 projects with an allocation of ₹5,287.90 crore have been sanctioned under the Swadesh Darshan Scheme, out of which 75 projects are physically complete, the Union Tourism Ministry said. Swadesh Darshan Scheme and PRASHAD Scheme Progression 7. Corporate social responsibility (CSR) Context: Corporate social responsibility (CSR) spending by central public sector enterprises (CPSEs) Increased. Key Highlights: Corporate Social Responsibility (CSR) Corporate Social Responsibility (CSR) is a business practice that considers the social and environmental impact of a company’s activities, in addition to its economic impact. It is a voluntary practice that goes beyond legal obligations and aims to make a positive impact on society. e.g. 8. Malaria Cases Decreases Context: The number of states/UTs falling with high malaria burden in India has come down from 10 in 2015 to two in 2023, latest data shared by the health ministry shows. Malaria 9. PM Modi Launches Drive to Combat Malnutrition on Veer Bal Diwas What is Malnutrition? Malnutrition is a condition that occurs when a person’s body doesn’t get the right amount of nutrients, or when nutrients are not used properly 10. TReDS to Spin MSME Flywheel Banking/Finance 1. RBI’s Monetary Policy Context: According to the Finance Ministry, measures taken by Reserve Bank of India with respect to monetary policy and macro-prudential interventions may have slowed down the economy. Key Highlights: RBI and it’s Monetary Policy 2. Leave banking to RBI, avers SC Context: The Supreme Court decided that the judiciary cannot claim power over banking. Instead, the Supreme Court argued that the RBI alone puts the mandate for banks. Key Highlights: 3. RBI Panel to Set AI Ethical Framework for Financial Firms Context: The Reserve Bank of India (RBI) said it has constituted a committee to develop a Framework for Responsible and Ethical Enablement of Artificial Intelligence (FREE-AI) in the financial sector. Key Highlights: What is Ethical use of AI? Ethical use of AI, also called responsible AI, is developing and using AI systems that are fair, transparent, accountable, and respectful of human values.  4. Employee Turnover in Private Sector Banks: Concern of RBI Context: The employee attrition rates reported in various private sector banks (PVBs) and small finance banks (SFBs) have shot up sharply over the last three years. Key Highlights: Private sector banks (PVBs) Private sector banks (PVBs) are banks in which a private company or group of individuals own the majority of the bank’s equity. Small Finance Banks (SFBs) Small Finance Banks (SFBs) are financial institutions that offer banking services to underserved and unbanked regions of India.  5. Unsecured Loans Deficit and Leverage Context: The Reserve Bank of India (RBI) has flagged concerns over rising delinquency and leverage in unsecured loans. Key Highlights: 6. Non-Performing Microfinance Loans Context: Private sector lender IndusInd Bank is seeking to offload ₹ 1,573 crore of non-performing microfinance retail loans, amid mounting stress in the microfinance sector. Non-Performing Microfinance Loans A nonperforming loan is one in which the borrower is in default and has not made any scheduled payments of principal or interest for a certain period of time. In banking, the commercial loans are considered nonperforming if the borrower is 90 days past due. 7. Regulations by RBI regarding Fintechs and Loan Practices Context: The report from RBI sounds