Weekly Current Affairs (22 Dec- 31 Dec, 2023)

Weekly Current Affairs (22 Dec- 31 Dec, 2023) - University News

22nd DECEMBER, 2023

IMF’s Annual Report on India’s Economy

The IMF’s yearly assessment of India’s economy underscores the stability of its currency and addresses government debt. In this evaluation, the IMF has revised India’s currency regime classification and recommended fiscal consolidation as a means to handle debt-related risks. Despite this, India remains steadfast in defending its economic policies and overall stability.

Press and Registration of Periodicals Bill, 2023

The Press and Registration of Periodicals Bill, 2023, has been approved by the Lok Sabha. It’s worth noting that the Rajya Sabha had already passed this bill during the preceding session.

Pradhan Mantri Bhartiya Janaushadhi Pariyojana

Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) has successfully reached its sales target of Rs. 1000 Crore in generic medicines for the fiscal year 2023-24.

Green Industrial strategy

The Green Industrial Strategy underscores the significance of sustainable development, innovation, and the imperative need to secure substantial investment.

PM-DevINE scheme

The Ministry of Development of North Eastern Region (DoNER) recently organized a meeting with the Chief Ministers of the states in the region to discuss challenges in the implementation of projects under the PM-Devine scheme.

8th edition of Indian Ocean Naval Symposium (IONS)

The Royal Thai Navy hosted the 8th edition of the Indian Ocean Naval Symposium (IONS) Conclave of Chiefs (CoC) in Bangkok.

Palna Scheme

The National Programme on Anganwadi-cum-Crèches was inaugurated by the Minister of Women and Child Development.

Sovereign Credit Rating

The Finance Ministry has recently issued a document titled “Re-examining Narratives: A Collection of Essays.”

National Sports Awards 2023

The Ministry of Youth Affairs & Sports has declared the National Sports Awards for the year 2023.

Good Governance Day

In commemoration of Good Governance Day, the Government introduced the Extended Version of Mission Karmayogi.


RBI officials currently assess that the risk of stagflation has diminished to 1%, a reduction from the 3% figure in August, based on the latest available data.

Viability Gap Funding

The Union Minister for Power and New & Renewable Energy has given approval to the Viability Gap Funding (VGF) scheme for the development of Battery Energy Storage Systems (BESS) with a capacity of 4,000 megawatt-hours (MWh).

Youth Unemployment

The enduring challenge of elevated unemployment rates among educated young individuals in India persists, even as overall unemployment rates have decreased. This underscores that although there is a reduction in unemployment overall, the issue remains acute for educated youth, indicating a longstanding concern in the Indian economy.

T+0 Instant Settlement Cycle

The Securities and Exchange Board of India (SEBI) has put forth a proposal to introduce an optional T+0 settlement cycle. This additional facility would coexist with the existing T+1 (trade plus one day) settlement cycle.

Tuberculosis (TB) Management in India

Research indicates that adopting shorter-duration treatment approaches for tuberculosis is essential to improve the management of TB in India.

‘MedTech Mitra’ Portal

The Union Health Minister recently launched the ‘MedTech Mitra’ portal virtually. This web platform aims to promote the development of affordable and accessible indigenous medical devices and in-vitro diagnostics. The portal provides strategic support to MedTech innovators by assisting in assessing clinical viability, regulatory facilitation, and adopting new products.

Key features of MedTech Mitra include addressing innovators’ queries and offering personalized guidance in consultation with regulators and other relevant stakeholders. The portal is coordinated collaboratively by the Indian Council of Medical Research (ICMR) and the Central Drugs Standard Control Organisation (CDSCO), under the guidance of NITI Aayog’s Atal Innovation Mission.

MedTech Mitra is expected to facilitate indigenous development, leading to cost-effective, high-quality medical technology devices and diagnostics. This initiative aims to reduce the current import dependence in the MedTech sector, which stands at around 80%. Additionally, it will support innovation, research, and development (R&D) for emerging startups in the field of medical technology.

SLIM : Japan’s Moon-Landing Mission

Japan’s Smart Lander for Investigating Moon (SLIM) spacecraft has successfully entered lunar orbit, with plans for a moon landing on January 19. If successful, this mission could potentially make Japan the fifth country to achieve a soft landing on the moon. The primary objective of SLIM is to demonstrate precision landing capabilities on the Moon, aiming for a landing within 100 meters of its designated site near the Shioli crater.

Electronic Soil

In a recent study, a newly developed eSoil that stimulates root systems has proven to be effective in promoting the growth of barley seedlings. The research showed that barley seedlings grown in eSoil exhibited an average growth increase of 50 percent. eSoil is a low-power bioelectronic growth substrate designed to electrically stimulate the root system and the overall growth environment of plants.

RBI: Trend and Progress of Banking in India report

According to the ‘Trend and Progress of Banking in India’ report by the Reserve Bank of India (RBI), the Gross Non-Performing Assets (GNPA) ratio of Indian scheduled commercial banks (SCBs) demonstrated a consistent improvement in the second quarter of FY24, reaching a decade-low level.

Gross Non-Performing Assets (GNPA) ratio:

Gross Non-Performing Assets (GNPA) represent the total value of non-performing loans (NPLs) or bad loans held by a bank. Non-performing loans are those for which payments have not been made for a specified minimum period, commonly set at 90 days. GNPA is a crucial metric used to assess the financial health and asset quality of a banking institution, indicating the proportion of loans that are at risk of default or have already defaulted.

Migration and Mobility Agreement between India and Italy

The Union Cabinet has granted approval for the Migration and Mobility Agreement between India and Italy. This agreement, signed in November 2023, involved the External Affairs Minister representing India and the Minister of Foreign Affairs and International Cooperation representing Italy.

First Woman to Head CISF

In a recent development, Nina Singh has been appointed as the Director General of the Central Industrial Security Force (CISF), making her the first woman to lead this force. Nina Singh, a highly experienced 1989-batch IPS officer from the Rajasthan cadre, has broken the glass ceiling with her historic appointment as the Director General of the CISF.

Climate Milestones of 2023

Several notable climate-related milestones took place in 2023. As reported by the Copernicus Climate Change Service (C3S), the year 2023 was 0.1°C warmer than the ten-month average for 2016, which is currently recognized as the warmest calendar year on record. Additionally, it was 1.43°C warmer than the preindustrial reference period from January to October. These figures highlight the ongoing trend of global temperature increase, emphasizing the urgency of addressing climate change.

Divya Kala Mela 2023

The Union Government is set to organize the 12th ‘Divya Kala Mela’ in Surat, Gujarat, from December 29, 2023, to January 7, 2024. This event marks a unique initiative that highlights the products and craftsmanship of Divyang (persons with disabilities) entrepreneurs and artisans from various parts of the country. Notably, 11 Divya Kala Melas have been organized since the inception of the event in 2022, with the previous editions taking place in Delhi.

National Tiger Conservation Authority (NTCA)

In the year 2023, the National Tiger Conservation Authority (NTCA) celebrated the achievements of Project Tiger, which marked its 50th anniversary. Project Tiger has played a pivotal role in ensuring the successful conservation and recovery of the endangered wild tiger population in India. The implementation of Project Tiger over the past five decades has significantly contributed to securing the future of these majestic animals and their habitats.