Daily GK Update: 9th December 2023

 Banking & Finance

1. PM Modi inaugurates first Indian Art & Design Biennale at Red Fort

• Prime Minister Narendra Modi inaugurated the first Indian Art, Architecture and Design Biennale (IAADB) at Red Fort in New Delhi.
• He unveiled seven research publications on the occasion.
• The Prime Minister also inaugurated Aatmanirbhar Bharat Centre for Design.
• IAADB is being organized in line with the PM's vision to develop a flagship global cultural initiative in the country.

 National Affairs

2. India Climbs to 7th Place in Global Climate Performance Index

• India has ascended to the 7th position in this year's Climate Change Performance Index (CCPI), showcasing a commendable improvement from its previous ranking.
• The announcement came during the global COP-28 held in Dubai, where India reaffirmed its status among the top performers for the fifth consecutive year.
• The Climate Change Performance Index (CCPI) tracks countries’ efforts to combat climate change.

 International Affairs

3. Dubai Inaugurates World's Largest Concentrated Solar Power Project

• PM Of UAE Sheikh Mohammed bin Rashid Al Maktoum inaugurated the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, marking the launch of the world's largest concentrated solar power project.
• The 950 MW phase, constructed at an investment of AED15.78 billion, utilizes three hybrid technologies: 600MW from a parabolic basin complex, 100MW from a CSP tower.
• The project features the tallest solar tower in the world, at 263.126 metres.

 National Affairs

4. Ministry of Culture launched Mera Gaon Meri Dharohar Project

• The Government of India has decided to map and document all villages under Mera Gaon, Meri Dharohar (MGMD) Programme.
• This National Mission on Cultural Mapping is conducted in coordination with Indira Gandhi National Centre for the Arts (IGNCA) under the Ministry of Culture.
• Under the MGMD, information is collected under seven broad categories.

   

 Banking & Finance

5. UPI limit for healthcare & education payments hiked to 5 lakh

• The RBI announced an increase in the UPI transaction limit for hospitals and education services to Rs 5 lakh.
• The limit for recurring digital payments without second-factor authentication was enhanced to Rs 1 lakh for mutual fund subscription, insurance premium, and card bills.
• The RBI also plans to create a repository for fintechs to store important information.
• The Reserve Bank Innovation Hub aims to make the repository operational by April 2024.

 Banking & Finance

6. IDFC FIRST Bank launches “FIRST SWYP” credit card

• IDFC FIRST Bank has introduced youth-centric “FIRST SWYP” credit card in partnership with Mastercard.
• This card can be used as a no-interest charge card and has curated features -- flexible bill repayments through EMIs, a benefit-laden referral program, and exclusive and relevant merchant partnerships.
• The card will address demands of new-age customers, blending benefits across their favorite categories of spends and lifestyle-related  offers.

 National Affairs

7. India to have 4,500 Vande Bharat trains by 2047

• As per union minister Scindia, 23 Vande Bharat trains are running in the country and the mission is to run 4,500 Vande Bharat trains by 2047.
• Jyotiraditya Scindia announced that the Indian Railway system is growing the fastest in the world.
• Railway budget in 2013-14 was 29 thousand crore rupees and now it is 2 lakh 40 thousand crore rupees.

 International Affairs

8. India to Extend $250 Million Line of Credit to Kenya

• India has committed a $250 million Line of Credit to Kenya for the modernization of its agricultural sector.
• The announcement came following talks between Indian Prime Minister Narendra Modi and Kenyan President William Samoei Ruto.
• Modi and Ruto discussed and agreed to strengthen bilateral ties in various sectors, including defence, trade, energy, digital public infrastructure, and healthcare.

 Banking & Finance

9. UPI Transaction Value Hits Record ₹17.4 Lakh Crore

• Unified Payments Interface (UPI) transaction value reached a new high level at ₹17.4 lakh crore in November 2023.
• UPI transaction volume declined slightly to 1,124 crore from 1,141 crore in October.
• UPI transactions fell slightly by 1.5% to 1,124 crore from 1,141 crore in October.
• Growth in UPI transactions has remained over 40% for the value of transactions and above 50% for volume in FY24 so far.