Daily Current Affairs Quiz 18th December 2024

**Notes:** Vice President Shri Jagdeep Dhankhar inaugurated the GSI Geoscience Museum in Gwalior, housed in the historic Victoria Market Building. The state-of-the-art facility serves as a hub of knowledge and a tribute to Earth’s geological wonders, celebrating the fusion of tradition with modern innovation and showcasing the significant contributions of the Geological Survey of India (GSI) in exploring the nation’s geological resources.

**Notes:** The “Viraasat Sari Festival 2024,” organized by the Ministry of Textiles, Government of India, is an exclusive handloom sari exhibition held at Handloom Haat, Janpath, New Delhi, from December 15 to December 28, 2024. The festival celebrates India’s rich and diverse handloom heritage, focusing on traditional sari weaving and providing artisans with a platform to showcase and retail their creations.

**Notes:** Russia has announced a new initiative allowing visa-free travel for Indians, expected to begin in the spring of 2025. This move follows bilateral discussions held in June 2024 aimed at easing visa restrictions and encouraging group tourist exchanges. The upcoming agreement is set to significantly streamline travel processes, boost tourism, and strengthen bilateral ties between India and Russia.

**Notes:** The Gympie-Gympie, scientifically known as Dendrocnide moroides, is recognized as the most toxic plant in the world. Primarily found in the rainforests of Australia, Indonesia, and the Moluccas, this stinging tree has heart-shaped leaves and is covered with fine, hair-like trichomes loaded with powerful neurotoxins. Contact with the plant causes excruciating pain described as being “burnt with hot acid and electrocuted at the same time,” with effects that can persist for weeks or even months.

**Notes:** Italy granted citizenship to Argentine President Javier Milei based on his Italian ancestry. This decision has sparked criticism in Argentina and highlights ongoing debates over Italy’s citizenship laws, particularly concerning descendants of Italian emigrants. Critics argue that the policy is unfair to children of immigrants born in Italy who are often denied citizenship. Additionally, the move sets the stage for further political and economic collaboration between Italy and Argentina.

**Notes:** The Indian Navy commissioned INS Nirdeshak, a new survey ship, on December 18, 2024, at the Naval Dockyard in Visakhapatnam. Constructed by Garden Reach Shipbuilders & Engineers (GRSE) in Kolkata, this vessel is the second ship under the Survey Vessel (Large) Project. INS Nirdeshak will enhance India’s maritime presence, especially in the Indian Ocean Region, and will continue the legacy of the original Nirdeshak, which served the Navy for 32 years before being decommissioned in 2014.

**Notes:** The Sri Lanka-India Naval Exercise (SLINEX) 2024, held from December 17 to December 20, 2024, at Visakhapatnam under the auspices of the Eastern Naval Command, focused on strengthening maritime cooperation between the two nations. Conducted in two phases—Harbour Phase and Sea Phase—the exercise aimed to enhance interoperability, strengthen mutual understanding, and promote regional maritime security amidst evolving global security challenges and geopolitical tensions.

**Notes:** Gati Shakti Vishwavidyalaya (GSV) and the Indian Navy signed a Memorandum of Understanding (MoU) to enhance education, research, and training in logistics for the Navy. This collaboration aims to strengthen the logistics capabilities of the Indian Navy, focusing on key areas such as supply chain management, multimodal transportation, and sustainability. The partnership aligns with national initiatives like the PM Gati Shakti National Master Plan 2021 and the National Logistics Policy 2022.

**Notes:** India’s wholesale inflation moderated to 1.9% in November 2024, down from 2.4% in October. This easing was driven by significant reductions in food price inflation, which fell from a 25-month high of 11.6% in October to 8.9% in November. However, prices for manufactured products like food items, furniture, pharmaceuticals, and electrical equipment continued to rise, contributing to higher inflation in these categories. Retail inflation also saw a slowdown, though certain food prices, such as edible oils and potatoes, remained high.

**Notes:** The Indian government has collected ₹8,625 crore through various minority stake sale disinvestment transactions during the current financial year 2024-25, as stated by MoS Finance Pankaj Chaudhary in a written reply to the Lok Sabha. While no specific disinvestment target has been set for FY25, the government continues its policy of strategic disinvestment and privatization to enhance efficiency and economic potential in sectors where competitive markets have matured.

**Notes:** The Reserve Bank of India (RBI) has raised the limit for collateral-free agricultural loans from ₹1.6 lakh to ₹2 lakh, effective January 1, 2025. This move aims to enhance financial access for farmers, addressing inflationary pressures and rising input costs while providing small and marginal farmers with sufficient credit support to meet their operational and developmental needs.

**Notes:** In the first half of FY 2024-25, Public Sector Banks (PSBs), including the State Bank of India (SBI), reported a net profit of ₹85,520 crore, marking an impressive 26% growth compared to ₹67,850 crore during the same period in the previous year. This significant achievement underscores the operational efficiency and financial resilience of PSBs, driven by improved asset quality, robust credit monitoring, and enhanced operational efficiency.

**Notes:** The Reserve Bank of India (RBI) has implemented significant measures to tackle the rising issue of unclaimed deposits. These include safeguarding depositor interests and introducing efficient mechanisms for reclaiming funds. Unclaimed deposits, defined as balances in savings/current accounts or term deposits inactive for over 10 years, have been increasing sharply in recent years, prompting RBI’s intervention to ensure depositor protection and financial system integrity.

**Notes:** Pensioners Day, observed annually on December 17 in India, honors D.S. Nakara, the pioneer who fought relentlessly for the rights and dignity of pensioners. This day commemorates the landmark Supreme Court judgment of 1982, which guaranteed equality and justice for retired officials and pensioners, celebrating their contributions and ongoing progress across various sectors.

**Notes:** On December 12, 2024, ISRO successfully completed a critical milestone with the sea-level hot test of its CE20 cryogenic engine at the ISRO Propulsion Complex in Mahendragiri, Tamil Nadu. Conducted on November 29, 2024, the test demonstrated the engine’s restart-enabling systems under ambient conditions, playing a vital role in enhancing India’s space exploration capabilities and upcoming space missions.

**Notes:** The Indian women’s junior hockey team successfully defended their Women’s Junior Asia Cup title by defeating China 3-2 in the final held in Muscat, Oman. This victory marks India’s 10th Women’s Junior Asia Cup win and qualifies the team for the 2025 FIH Women’s Junior Hockey World Cup in Chile, alongside China, Japan, South Korea, and Malaysia.

**Notes:** The Indian government has collected ₹8,625 crore through various minority stake sale disinvestment transactions during the financial year 2024-25, as reported by MoS Finance Pankaj Chaudhary in a written reply to the Lok Sabha. This achievement reflects the government’s ongoing policy of strategic disinvestment and privatization aimed at enhancing efficiency and economic potential in mature competitive sectors.

**Notes:** The Reserve Bank of India (RBI) has raised the limit for collateral-free agricultural loans from ₹1.6 lakh to ₹2 lakh, effective January 1, 2025. This initiative aims to enhance financial access for farmers, addressing inflationary pressures and rising input costs, and providing small and marginal farmers with sufficient credit support for their operational and developmental needs.

**Notes:** Gati Shakti Vishwavidyalaya (GSV) and the Indian Navy signed a Memorandum of Understanding (MoU) to enhance education, research, and training in logistics for the Navy. This collaboration aims to strengthen the logistics capabilities of the Indian Navy, focusing on supply chain management, multimodal transportation, and sustainability, and aligns with national initiatives like the PM Gati Shakti National Master Plan 2021 and the National Logistics Policy 2022.

**Notes:** Uttarakhand unveiled India’s first dedicated Yoga Policy in 2024, aiming to transform the state into a global yoga hub. Building on Rishikesh’s recognition as the “Yoga Capital of the World,” the policy integrates yoga, Ayurveda, and wellness into a comprehensive development strategy for tourism, health, and employment. Spearheaded by Chief Minister Pushkar Singh Dhami, the initiative aligns with the AYUSH policy’s success and seeks to leverage Uttarakhand’s rich cultural and spiritual legacy.