Daily Current Affairs 18 December, 2024 National Affairs 1. National Test Agency Context: National Test Agency will conduct only competitive entrance tests for admission into educational institutions from next year and won’t hold any recruitment exams, Union education minister Dharmendra Pradhan said Tuesday. What is NTA? 2. India’s 2030 Clean Energy Vision Context: India is progressing well toward achieving its clean energy goals pertaining to solar power and battery energy storage systems by the year 2030. Key Highlights: Read more>> Banking/Finance 1. Banking Liquidity Deficit Context: The banking system cash deficit, as measured by banks’ borrowings from the Reserve Bank of India, was at 1.5 trillion rupees ($17.7 billion) as of Monday, the highest since June 24, What is Banking Liquidity Deficit? Liquidity means  available cash that banks need to meet short-term business and financial needs. Liquidity Adjustment Facility: 2. Certificates of Deposit (CDs)  Context: About trillion was mobilized this fiscal year through the issuing of Certificates of Deposit (CDs)  mainly for the purpose of managing cost of funds with credit-to-deposit gap. Key Highlights: What is Certificates of Deposit (CDs)? A certificate of deposit (CD) is a financial instrument that allows one to earn interest on a fixed amount of money that a person deposits with a bank for a set period of time:  In India, CDs are issued by scheduled commercial banks, regional rural banks, small finance banks, and All India Financial Institutions. They are governed by the Reserve Bank of India (RBI) and are issued in dematerialized form.  3. Bank Fraud Cases Context: The Indian Banking Association recommends to the finance ministry to direct all public sector banks (PSBs) to conduct period training programs by CBI for improvement of vigilance and strengthening of efforts to curb frauds. Key Highlights: Indian Banks’ Association 4. Sebi Prohibits FPIs from Issuing P-Notes Context: The Securities and Exchange Board of India (Sebi) barred foreign portfolio investors from issuing offshore derivative instruments (ODIs), locally referred to as participatory or P-notes, with derivatives as an underlying asset. Highlights: Participatory notes (P-notes) Participatory notes (P-notes) are financial instruments that allow foreign investors to invest in India’s stock market without registering with the Securities and Exchange Board of India (SEBI). P-notes are issued by registered foreign institutional investors (FIIs) to overseas investors.  Offshore Derivative Instruments (ODIs) ODIs are vehicles that allow foreign investors to invest in Indian equities or equity derivatives without registering in the country. Foreign Institutional Investors (FIIs) Foreign Institutional Investors (FIIs) are investors or funds that invest in a country apart from the one where they are registered or headquartered. FIIs include investment banks, mutual funds, hedge funds, and pension funds.  5. Digital Lenders Context: As the Reserve Bank of India (RBI) tightens screws on unsecured lending, digital lenders are diversifying into secured lending with products like micro loans against property, business loans for MSMEs and green financing. Key Highlights: Digital lenders Digital lenders are institutions that offer loans through digital channels, such as mobile apps or websites, rather than traditional in-person methods. Digital lending uses technology to automate and streamline the lending process, from application to repayment.  6. SME IPO rules on Sebi  Context: The Securities and Exchange Board of India (Sebi) will take up proposals that will affect small and medium enterprises (SMEs), angel funds, and the broader securities market through IPO regulations, insider trading rules, and compliance for registered entities during its board meeting on 18 December. Also Read: SME IPOs Reveals Data Small and Medium Enterprise Initial Public Offering (SME IPOs): SEBI: Regulation for Algorithmic Trading Details of the Changes made by SEBI: Economy 1. The Indian Rupee Fell Context: The Indian rupee fell an all-time low of 84.93 per US dollar, per mid-session on Tuesday. Factors Affecting: Agri Business 1. MSP Needs Recognition Context: Parliamentary standing committee on agriculture, animal husbandry and food processing recommends a legally recognized minimum support price for farm produce. Key Highlights:. The Minimum Support price (MSP) The minimum support price (MSP) is the minimum price that is set by the Government of India for certain crops to ensure a minimum profit as well as ensuring food security for farmers. The MSP is basically announced at the beginning of the sowing season for crops like wheat and paddy. The government fix the mount of MSP based on recommendations from the Commission for Agricultural Costs and Prices (CACP).  Aim of MSP: The MSP is different from the procurement price and issue price. When the market price for a commodity falls below the MSP, the government buys the entire quantity of food grains by the farmers at the MSP.  2. 3.7 Million Farmer IDs under AgriStack Context: The government on Tuesday informed Parliament that more than 3.7 million identity cards of farmers have been created so far as part of the AgriStack project. What is AgriStack Initiative? Providing APIs for AgriStack Initiative 3. MGNREGS Wages Hike Context: The parliamentary standing committee on rural development and panchayati raj has urged the government to consider revising and increasing wage rates under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) finding the current payment not in “consonance with the rising cost of living”. Read about: Mahatma Gandhi National Rural Employment Guarantee Act ( MGNREGA ) 4. The India Conformity Assessment Scheme (i-CAS) Context: The Centre has said the India Conformity Assessment Scheme (i-CAS) for Halal is mandatory with respect to the export of specified meat products destined to specified countries. The India Conformity Assessment Scheme (i-CAS) The India Conformity Assessment Scheme (i-CAS) is a certification scheme for Halal products that was developed in order to verify the process of certifying meat and meat products for export. 5. Namo Drone Didi Context: The Central Sector Scheme On Provision of Drones for Self-Help Groups (SHGs) of women with an Budget of Rs. 1261 Crores for 2023-24 to 2025-26. Benefits: Facts to Remember 1. Rural Electrification Corporation Ltd. (REC) raises Bond Rural Electrification Corporation Ltd. (REC) on Tuesday said it has raised ₹ 2,195 crore through bonds of different maturities. What is Bond? 2. Unified Payments Interface (UPI) in Rural and