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We at Edusprint Academy are committed to bringing you the most relevant and updated 12th December current affairs 2024, curated from trusted and official sources. These updates are designed to keep you ahead in your exam preparation journey.
Our comprehensive Current Affairs December 2024 coverage aims to enhance your knowledge and boost your scores in Banking, Insurance, SSC, Railways, UPSC, and all State Government Exams. Explore our Current Affairs tailored to simplify your exam preparation.
National news
India to have its own space station by 2035 and an Indian will land on moon by 2040
In a landmark announcement, Dr. Jitendra Singh, the Minister of State for Science and Technology, revealed that India is on track to achieve major milestones in its space exploration endeavors. Speaking at a press conference in New Delhi focused on the ‘Achievements of all Science Ministries,’ Dr. Singh outlined the government’s ambitious plans to establish India’s own space station, the ‘Bharat Antariksha Station,’ by 2035, and to successfully send an Indian astronaut to the moon by 2040.
Key Highlights of the Announcement:
1. Bharat Antariksha Station (India’s Space Station by 2035):
- India is set to develop and operationalize its own space station within the next decade.
- This initiative reflects the country’s growing self-reliance and advancements in space technology.
- The space station will play a critical role in supporting advanced scientific experiments and international collaborations.
2. Indian Lunar Mission by 2040:
- The Minister affirmed that an Indian astronaut will land on the moon by 2040.
- This builds on India’s recent successes in space exploration, such as the Chandrayaan-3 mission, which demonstrated the country’s capability for lunar landings.
Note: Dr. Jitendra Singh, the Minister of State for Science and Technology
Nitin Gadkari Inaugurates bauma CONEXPO INDIA 2024, Highlights Vision for Viksit Bharat
Union Minister for Road Transport and Highways, Nitin Gadkari, reaffirmed the Central Government’s commitment to building a self-reliant India and achieving the goal of a 5-trillion-dollar economy. Speaking at the inauguration of the 7th Edition of bauma CONEXPO INDIA 2024 at the India Expo Mart in Greater Noida, Gautam Buddh Nagar, the minister emphasized the role of world-class highway networks in driving the nation’s growth and development.
Key Highlights of the Speech:
1. Vision for a Self-Reliant India:
- The government is working toward achieving the vision of Viksit Bharat (Developed India) by 2047, aligning with the goals of infrastructure development and economic growth.
- India’s exports have shown significant growth over the last decade, indicating a robust trajectory toward achieving these ambitious goals.
2. Logistics Cost Reduction:
- Mr. Gadkari pointed out that the current logistics cost in India stands at 14-16% of GDP.
- The government aims to reduce this to 9% within the next two years, a move that will enhance India’s competitiveness in the global market.
3. Infrastructure as a Growth Catalyst: India is focusing on developing world-class highway networks, which are pivotal for reducing travel time, increasing connectivity, and improving economic efficiency.
bauma CONEXPO INDIA 2024:
The exhibition is a premier platform for showcasing advancements in the construction, building materials, and mining machinery industries.
- Participation: Over 1,000 exhibitors are showcasing 20,000 products, including live machinery demonstrations.
- Focus Areas: Innovations in sustainable construction, advanced machinery, and technological developments in infrastructure.
Note: Union Minister for Road Transport and Highways, Nitin Gadkari
India’s Nuclear Power Capacity Doubles in a Decade, Set to Triple by 2031: Union Minister Jitendra Singh
India has achieved remarkable growth in its nuclear power generation capacity, which has increased from 4,780 megawatts in 2014 to 8,180 megawatts in 2024, nearly doubling over the past decade. This achievement was highlighted by Union Minister Dr. Jitendra Singh during a session of the Lok Sabha today. The minister elaborated on the advancements and future potential of India’s nuclear energy program while discussing the country’s broader energy strategy.
Key Highlights of Dr. Jitendra Singh’s Address:
1. Revised Power Distribution Framework:
- India has implemented a revised formula for distributing electricity generated from atomic plants:
- 50% of power is allocated to the home state.
- 35% is distributed to neighboring states.
- 15% is reserved for the national grid.
- This new system ensures equitable resource distribution, fostering cooperation among states and reflecting the federal spirit of the country.
2. Future Growth in Nuclear Power:
- India’s nuclear power generation capacity is projected to triple to 22,480 megawatts by 2031-32.
- This significant expansion underscores the country’s commitment to enhancing its energy infrastructure and reducing reliance on fossil fuels.
3. Progress in the Atomic Energy Program:
- The minister highlighted the robust progress in India’s atomic energy sector, which has become a critical pillar of the country’s sustainable development goals.
- India is focusing on expanding its fleet of reactors and leveraging indigenous technology to scale up nuclear energy production.
International news
Bangladesh: Mitali Express returns to India after 5 months
The Mitali Express, a prominent inter-country train connecting Dhaka (Bangladesh) and New Jalpaiguri (India), has resumed operations, returning to India after being suspended for nearly five months. This comes as a significant development amid improved conditions following the suspension of inter-country rail services due to political unrest in Bangladesh.
- Re-entry into India: The train rakes returned to India through the Chilahati-Haldibari border in Cooch Behar District, West Bengal, under heightened security arrangements.
- Reason for Suspension: Services were suspended due to the deteriorating law and order situation in Bangladesh, which affected the safe movement of passengers and trains.
- Timeline: The Mitali Express originally departed from New Jalpaiguri to Dhaka on July 17, 2024. However, it was unable to return, as the Indian Railways suspended all three inter-country passenger trains for an indefinite period in response to the unrest.
Bangladesh:
- Capital: Dhaka
- Currency: Bangladeshi Taka
- Official language: Bengali
- President: Mohammed Shahabuddin
Banking news
Reserve Bank of India’s (RBI) 5th Bi-Monthly Monetary Policy (FY25)
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) convened from 4th December to 6th December 2024, during which the 5th Bi-Monthly Monetary Policy for Financial Year 2024-25 (FY25) was released.
Economic Growth and GDP Projections:
- The RBI revised India’s GDP growth forecast for FY25 down to 6.6%, compared to the earlier projection of 7.2%.
- For Q3 FY25, the real GDP growth projection is at 6.8%, and for Q4 FY25, it is 7.2%.
- Looking ahead, the RBI forecasts real GDP growth for Q1 FY26 at 6.9% and Q2 FY26 at 7.3%.
Inflation Projections: The FY25 inflation estimate has been raised to 4.8%, with the Consumer Price Index (CPI) expected to remain elevated during Q3 of FY25.
Monetary Policy Measures:
- CRR Reduction: The Cash Reserve Ratio (CRR) has been reduced to 4% to ease anticipated liquidity stress in the banking system.
- Credit Line on UPI: The RBI has allowed Small Finance Banks (SFBs) to offer pre-sanctioned credit lines via the Unified Payments Interface (UPI).
- Collateral-Free Loans for Farmers: The RBI increased the collateral-free loan limit for farmers from Rs 1.6 lakh to Rs 2 lakh, providing greater access to credit.
- Digital Fraud Prevention: The RBI unveiled MuleHunter, a new initiative designed to prevent digital frauds, enhancing the security of digital transactions.
- Foreign Exchange (FX) and Retail Platform: The RBI will link the FX-Retail platform to NPCI Bharat Connect, expanding access to the foreign exchange market for retail participants.
- New Benchmark – SORR: The RBI will introduce a new benchmark, SORR (Secured Overnight Repo Rate), based on secured money markets, to strengthen market mechanisms and offer a reliable reference rate.
RBI:
- Founded: 1 April 1935, Kolkata
- Headquarters: Mumbai
- Governor: Sanjay Malhotra
Deutsche Bank Provides Sustainability-Linked Loan to SMFG India Credit Company
On December, 2024, Deutsche Bank AG, India, announced that it has provided a €91 million loan (approximately Rs 813 crore) to SMFG India Credit Company Limited (SMICC), a wholly-owned subsidiary of the Japan-based Sumitomo Mitsui Financial Group (SMFG). The loan is part of Deutsche Bank’s Sustainable Finance framework and aims to support the growth of micro, small, and medium enterprises (MSMEs) in India, particularly in underserved areas.
Key Points of the Loan:
Sustainability-linked Loan: The loan is sustainability-linked, meaning it aligns with Deutsche Bank’s Sustainable Finance framework criteria. This framework ensures that the funding supports projects that have a positive environmental or social impact.
Loan Details:
- The loan is provided for a period of 3 years and was facilitated through Deutsche Bank’s Gujarat International Financial Tec-City (GIFT City) branch in Gandhinagar, Gujarat.
- SMICC intends to use the funds primarily to support MSMEs and extend its operations in rural areas.
Impact on Women Entrepreneurs: A key focus of the loan is to empower women entrepreneurs in semi-urban and rural areas, ensuring greater financial inclusion and economic empowerment.
SMICC’s Goals: The loan will not only help expand SMICC’s portfolio but also provide much-needed financial support to MSMEs, especially in rural and underserved areas.
About the Companies:
Deutsche Bank AG:
- CEO: Christian Sewing
- Headquarters: Frankfurt, Germany
- Established: 1870
Deutsche Bank is a leading global financial services provider offering a range of services including investment banking, asset management, and corporate banking.
SMFG India Credit Company Limited (SMICC):
- CEO & MD: Shantanu Mitra
- Headquarters: Mumbai, Maharashtra
- Established: 2007 (formerly known as Fullerton India Credit Co. Ltd (FICCL))
SMICC is a Non-Banking Financial Company (NBFC) providing a range of financial products and services, including loans to MSMEs, primarily in rural and semi-urban areas.
Award news
Dr. US Awasthi Wins Rochdale Pioneers Award 2024
Dr. Udai Shanker Awasthi, Managing Director (MD) and Chief Executive Officer (CEO) of Indian Farmers Fertiliser Cooperative Limited (IFFCO), has been honored with the prestigious Rochdale Pioneers Award 2024 by the International Cooperative Alliance (ICA). This award recognizes Awasthi’s exceptional contributions to the cooperative sector in India.
Key Highlights:
Award Presentation: The award was presented to Dr. Awasthi by Ariel Guarco, President of ICA, during the ICA Global Conference 2024 in New Delhi, Delhi.
Historical Significance: Dr. Awasthi is the second Indian to receive this esteemed award. The first recipient was Verghese Kurien, widely regarded as the Father of the White Revolution, who received the award in 2001.
About the Rochdale Pioneers Award: The ICA established the Rochdale Pioneers Award in 2000 to honor individuals or cooperative organizations that have made remarkable contributions to innovative and financially sustainable cooperative initiatives.
Dr. Awasthi’s Leadership at IFFCO:
- Dr. Awasthi joined IFFCO in 1976 as a chemical engineer. Under his leadership:
- The production capacity of IFFCO grew by 292%.
- The net worth of the cooperative surged by 688%.
His leadership has been pivotal in positioning IFFCO as a global leader in the cooperative sector.
Other Honors: In December 2024, Dr. Awasthi was also recognized as the ‘Fertilizer Man of India’ during the 8th National Convention of Sahakar Bharati in Amritsar, Punjab.
IFFCO’s Global Ranking: According to the World Cooperative Monitor (WCM) Report 2023, IFFCO ranks first among the top 300 cooperatives globally, underscoring the cooperative’s success under Awasthi’s leadership.
IFFCO:
- CEO: Dr. Udai Shanker Awasthi (1993–)
- Headquarters: New Delhi
- Founded: 3 November 1967, New Delhi
Appointment news
John Dramani Mahama Elected as President of Ghana for the Second Time
On December, 2024, John Dramani Mahama, the political leader of the National Democratic Congress (NDC), was elected as the President of Ghana for a second term. He won the Presidential election by securing 60.9% of the votes, defeating the Vice President Mahamudu Bawumia, the candidate from the New Patriotic Party (NPP).
About Ghana:
- President- Nana Addo Dankwa Akufo-Addo
- Capital- Accra
- Currency- Ghanaian Cedi (GHS)
Shammi Silva Becomes 29th President of the Asian Cricket Council (ACC)
On December , 2024, Shammi Silva, the head of Sri Lanka Cricket (SLC), was elected as the 29th President of the Asian Cricket Council (ACC). He succeeds Jay Shah from India, who became the Chairman of the International Cricket Council (ICC) on December 1, 2024.
About the Asian Cricket Council (ACC):
- Established: 1983
- Objective: The ACC is dedicated to promoting and developing the sport of cricket in Asia. It operates as a subordinate body to the International Cricket Council (ICC).
- Headquarters: Colombo, Sri Lanka
- New President: Shammi Silva (Sri Lanka)
Pankaj Tripathi Appointed Festival Ambassador for Arunachal Rang Mahotsav 2024
In 2024, renowned Indian actor Pankaj Tripathi was appointed as the Festival Ambassador for the Arunachal Rang Mahotsav 2024 (ARM2024). This festival is the largest international theatre festival in Northeast India.
Dates: The 2nd edition of ARM was held from 22nd November to 5th December 2024 at Indira Gandhi Park in Itanagar, Arunachal Pradesh.
Organizers: The festival was organized by ARM in collaboration with the Arunachal Pradesh Literary Society (APLS) and sponsored by the Tourism Department of Arunachal Pradesh.
Key Highlights of ARM2024:
- Opening Ceremony: The opening ceremony was attended by Pema Khandu, the Chief Minister (CM) of Arunachal Pradesh, Chowna Mein, the Deputy CM, and other dignitaries.
- Festival Features: The 15-day festival included various cultural performances such as proscenium theatre, street plays, and intimate stage productions.
- International Participation: ARM 2024 showcased performances from five countries—Poland, USA, Nepal, Taiwan, and India—making it a significant international theatre event in the region.
Arunachal Pradesh:
- Capital: Itanagar (Executive Branch)
- Chief minister: Pema Khandu
- Governor: Kaiwalya Trivikram Parnaik
Science and tech news
Amara Raja Infra Develops India’s First Green Hydrogen Fueling Station in Leh
In a significant leap towards green mobility and sustainable energy, Union Minister Manohar Lal Khattar, who heads the Ministry of Power (MoP) and Ministry of Housing and Urban Affairs (MoHUA), inaugurated India’s first green hydrogen fueling station in Leh, Ladakh in November 2024. Developed by Amara Raja Infra Private Limited, a Hyderabad-based company, the station was commissioned for NTPC Limited (formerly National Thermal Power Corporation).
Key Features of the Hydrogen Fueling Station
- Green Hydrogen Production: The station produces 80 kg of green hydrogen (GH2) daily, marking a technological achievement in an area with extreme altitude (3,400 meters above sea level) and temperature variations ranging from -25°C to 30°C.
- Clean Energy Deployment: NTPC has deployed five hydrogen fuel cell buses in the Leh region, providing emission-free public transport in this ecologically sensitive area.
Significance of the Project
- Emission-Free Mobility: The initiative aims to reduce pollution in the high-altitude region of Ladakh, which is vulnerable to climate change, by promoting clean, sustainable transport.
- India’s Leadership in Green Mobility: The project aligns with India’s National Hydrogen Energy Mission (NGHM), underscoring the country’s commitment to large-scale green hydrogen mobility and storage solutions.
- Precursor for Expansion:This pioneering project lays the groundwork for the development of large-scale hydrogen energy infrastructure across India.
Renewable Energy Boost: In addition to the hydrogen station, NTPC has been actively scaling up its renewable energy portfolio. In October 2024, JSW Renew Energy signed a 700 MW solar power purchase agreement with NTPC, further bolstering India’s renewable energy capacity.
Award news
Ecologist Madhav Gadgil honoured with UNEP Champions of Earth Award
Veteran Indian ecologist Madhav Gadgil has been chosen as one of the six persons/institutions to be honoured with the prestigious 2024 United Nations Environment Programme (UNEP) ‘Champions of the Earth’ award.
- Madhav Gadgil, along with Brazilian Sonia Guajajara, Lu Qi of China, Amy Bowers Cordalis of the USA, Gabriel Paun of România, and the Egyptian environmental organisation Sekem, has been chosen for this year ‘Champions of the Earth’ award in various categories.
- The ‘Champions of the Earth award is considered the United Nation’s highest environmental honour.
About that award:
The Champions of the Earth Award is an annual recognition established by the United Nations Environment Programme (UNEP) in 2005. It honors individuals or organizations that have made significant contributions to addressing global environmental challenges, including Climate Change, Biodiversity and Nature Loss, and Pollution and Waste. The award is presented in four categories: Policy Leadership, Science and Innovation, Entrepreneurial Vision, and Inspiration and Action, with a Lifetime Achievement Award for exceptional contributions. To date, 116 individuals and organizations, including 7 world leaders, have been honored.
The United Nations Environment Programme (UNEP) was established in 1972 following the first global summit on the environment in Stockholm, Sweden. UNEP is headquartered in Nairobi, Kenya, and works to foster global cooperation in tackling environmental issues, with 193 member countries.
Sports news
Khelo India Winter Games 2025 set to showcase Winter Games across Ladakh and Jammu & Kashmir
The Khelo India Winter Games (KIWG) 2025 are set to take place in Ladakh and Jammu & Kashmir across two distinct phases, showcasing India’s growing focus on winter sports. The announcement highlights the government’s commitment to fostering talent for international events, including the 2026 Winter Olympics.
Event Schedule and Details
1. Ladakh (Ice Events):
- Dates: January 23–27, 2025
- Key Sports: Ice Hockey, Ice Skiing
2. Jammu & Kashmir (Snow Events):
- Dates: February 22–25, 2025
- Key Sports: Alpine Skiing, Nordic Skiing, Ski Mountaineering, Snowboarding
Ministerial Highlights
Union Sports Minister Dr. Mansukh Mandaviya expressed enthusiasm about the games, emphasizing:
- The role of the KIWG in identifying and nurturing talent for the 2026 Winter Olympics.
- The need to promote winter sports and inspire athletes, particularly from remote Himalayan regions, to take up skiing and skating.
- The encouraging participation of athletes from rural and remote areas, reflecting the inclusivity of the KIWG.
