National news
‘Mission Himveer’: Empowering Arunachal’s Economy
The Government of Arunachal Pradesh launched Mission Arun Himveer to enhance market access for local agricultural and horticultural producers, fostering economic and social development in rural and border regions.
Objective:
- Provide direct market access for farmers, SHGs, FPOs, and cooperatives.
- Promote rural economic growth and reverse migration to villages.
- Support the Vibrant Village Programme by meeting agricultural demand in border areas.
MoU Features
- APAMB collaborates with ITBP (North East Frontier) to purchase local produce (fruits, vegetables, meat, poultry).
- Payments processed via a ₹4 crore revolving fund, ensuring 100% payment to farmers.
Milestones Achieved
- Supplied 400 tons of produce worth ₹72 lakhs to the Indian Army (2022).
- Exchanges operational in regions like Tawang, Lower Subansiri, and West Siang.
Economic Impact
- Expected ₹10 crore annual business.
- Aims to double farmers’ incomes and support 1 lakh women in SHGs statewide.
Social and Strategic Benefits
- Strengthens ties between border residents and ITBP forces.
- Encourages self-reliance, sustainability, and rural employment opportunities.
Leadership & Participation
- MoU signed by APAMB CEO Okit Palling and ITBP IG Akun Sabharwal.
- Ceremony attended by CM Pema Khandu, Dy CM Chowna Mein, and other officials.
Future Goals
- Expand market access for remote villages.
- Integrate border areas into the mainstream economy.
- Promote farming innovation and diversification.
Arunachal Pradesh:
- Capital: Itanagar (Executive Branch)
- Chief minister: Pema Khandu
- Governor: Kaiwalya Trivikram Parnaik
Economy news
FDI Inflows Jump 45% to USD 29.79 Billion in H1 FY 2024-25
India witnessed a 45% increase in Foreign Direct Investment (FDI) during the first half of FY 2024-25, amounting to USD 29.79 billion, compared to USD 20.5 billion in the same period last year. The growth reflects strong investor confidence in India’s economic landscape.
Key Insights
Sectoral Growth
- Services: USD 5.69 billion (up from USD 3.85 billion last year).
- Key Sectors: Telecom, computer software and hardware, and pharma led FDI inflows.
- Non-conventional energy: Significant growth with FDI inflows reaching USD 2 billion.
Top Contributing Countries
- Singapore: USD 7.53 billion.
- Mauritius: USD 5.34 billion.
- Netherlands: USD 3.58 billion.
- United States: USD 2.57 billion.
Declines: Inflows from Japan and the UK decreased during the period.
Singapore Tops FDI Inflows to India, Contributing 50% in Q3
In the July-September 2024-25 quarter, Singapore emerged as the largest source of Foreign Direct Investment (FDI) for India, contributing an impressive 50% of the total FDI inflows, amounting to USD 7.5 billion of the overall USD 13.6 billion. This marked a 43% year-on-year increase in FDI, signaling a strong recovery in foreign investments after a period of weak inflows.
Key Highlights of FDI from Singapore
FDI Contribution:
- Singapore contributed USD 7.5 billion in the July-September quarter, making up 50% of India’s total FDI of USD 13.6 billion.
- This reflects the country’s vital role as a key investor in India.
Total FDI Inflows: The overall FDI to India in the quarter reached USD 13.6 billion, marking a 43% increase compared to the same period last year.
Banking news
Banking Laws (Amendment) Bill, 2024 Set To Introduce in the Lok Sabha
The Banking Laws (Amendment) Bill, 2024 is set to be introduced by Union Finance Minister Nirmala Sitharaman in the Lok Sabha on 2nd December 2024. This bill aims to amend several key banking-related legislations, including:
- The Reserve Bank of India Act, 1934
- The Banking Regulation Act, 1949
- The State Bank of India Act, 1955
- The Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980
These amendments are designed to enhance the functioning and regulation of the banking sector. Here’s a detailed overview of the key amendments proposed in the bill:
Definition of “Fortnight” for Cash Reserves
Current Definition: A “fortnight” is defined as the period from Saturday to the second following Friday, including both days, used to calculate the average daily balance held by scheduled banks as cash reserves.
Proposed Amendment: The “fortnight” will be defined as:
- From 1st to 15th day of each month
- From 16th to the last day of each month
Impact: This change will apply under the Banking Regulation Act as well, where non-scheduled banks are required to maintain cash reserves.
Tenure of Directors of Co-operative Banks
- Current Rule: Directors (other than the chairman or whole-time directors) cannot hold office for more than eight consecutive years.
- Proposed Amendment: The tenure will be extended to 10 consecutive years.
- Impact: This extension is expected to bring greater stability in the governance of co-operative banks.
Prohibition on Common Directors in Co-operative Banks
- Current Rule: The Banking Regulation Act prohibits a director from serving on the boards of more than one bank, with exceptions for directors appointed by the RBI.
- Proposed Amendment: The exemption will now extend to directors of central co-operative banks, allowing them to serve on the board of a state co-operative bank if they are a member.
- Impact: This aims to enhance coordination and strengthen the leadership within the co-operative banking system.
Substantial Interest in a Company
- Current Rule: “Substantial interest” is defined as holding shares worth more than ₹5 lakh or 10% of the paid-up capital, whichever is lower.
- Proposed Amendment: The threshold for “substantial interest” will increase to ₹2 crore.
- Impact: This relaxation will allow individuals and their families (spouse or minor children) to hold a larger stake without it being considered substantial, benefiting larger investors and corporate entities.
Nomination for Deposits and Bank Products
Current Rule: The Banking Regulation Act allows depositors to appoint one nominee for their deposits, articles, or lockers.
Proposed Amendment: The Bill allows up to four nominees for:
- Deposits (either simultaneously or successively)
- Other items like articles and lockers (successively)
Impact: In case of simultaneous nominations, the distribution will be according to the declared proportion, while successive nominations will prioritize the first person listed. This will simplify the distribution of assets and clarify the rights of multiple nominees.
Settlement of Unclaimed Amounts
Current Rule: Under the State Bank of India Act and the Banking Companies (Acquisition and Transfer of Undertakings) Acts, unpaid dividends are transferred to an unpaid dividend account, and after seven years, they move to the Investor Education and Protection Fund (IEPF).
Proposed Amendment: The Bill will expand the scope of funds that can be transferred to the IEPF to include:
- Shares for which dividends have not been claimed for seven consecutive years
- Interest or redemption amounts for bonds that remain unpaid/unclaimed for seven years
Impact: This will allow individuals to claim unclaimed funds transferred to the IEPF, promoting financial transparency and resolving outstanding claims.
Remuneration of Auditors
- Current Rule: The remuneration for auditors of banks is decided by the Reserve Bank of India (RBI) in consultation with the central government.
- Proposed Amendment: Banks will now have the authority to determine the remuneration for their auditors independently.
- Impact: This change is expected to streamline the auditing process by reducing bureaucratic involvement in the remuneration process for bank auditors.
Summit news
AOMSUC-14 Innovating Weather Monitoring
The 14th Asia-Oceania Meteorological Satellite Users’ Conference (AOMSUC-14) is scheduled to be held from December 4–6, 2024 in New Delhi, India. Hosted by the India Meteorological Department (IMD) under the Ministry of Earth Sciences, this conference will gather meteorologists, satellite operators, scientists, and young researchers from around the world. The event aims to promote collaboration and advance the field of satellite meteorology.
Objectives of AOMSUC-14
- Promoting Satellite Observations: Emphasizing the crucial role of satellites in meteorology and climatology.
- Advancing Remote Sensing Science: Encouraging innovations in satellite-based data collection and analysis.
- Fostering Dialogue and Collaboration: Providing a platform for interaction between satellite operators and end-users.
- Updating on Space Programs: Sharing the current status and future plans of international space initiatives.
- Encouraging Technology Development: Motivating the development of advanced technologies for weather satellite sensing.
- Engaging Young Scientists: Nurturing the next generation of satellite meteorology experts.
Key Events and Activities
Inauguration:
- Led by Dr. Jitendra Singh, Minister of State.
- Prominent dignitaries, including Dr. M. Ravichandran (Secretary, Ministry of Earth Sciences) and Sh. Nilesh M. Desai (Director, SAC-ISRO), will be present.
Training Workshop:
- Scheduled for December 2–3, 2024, at IMD, New Delhi.
- The workshop will include 70 trainees from various countries.
Main Conference:
- Features 150 participants from across the globe.
- Includes oral and poster presentations, panel discussions, and networking opportunities.
Regional Coordination Meeting:
- Set for December 7, 2024, at IMD, New Delhi.
- Focuses on fostering international cooperation for weather and climate satellite applications.
Historical Context
- The first AOMSUC was held in Beijing, China, in 2010.
- Since then, the conference has been hosted annually in various Asia-Oceania locations.
- AOMSUC has become a key event for knowledge-sharing and collaboration in the field of satellite meteorology.
India meteorological department:
The India Meteorological Department (IMD) is the national meteorological agency of India, responsible for providing weather forecasts, warnings, and meteorological data. It is under the Ministry of Earth Sciences, Government of India.
Key Facts About IMD:
- Establishment: IMD was established in 1875 under the British colonial rule as the Meteorological Department of India. It became a part of the Ministry of Earth Sciences after its formation in 2006.
- Headquarters: The headquarters of IMD is located in New Delhi, India.
- Head: Dr. Mrutyunjay Mohapatra
Defence news
India-Cambodia Joint Exercise CINBAX Begins in Pune
The Indian Army and the Cambodian Army commenced their first-ever Joint Table Top Exercise, CINBAX, from 1st to 8th December 2024, at the Foreign Training Node in Pune, India. This exercise aims to strengthen strategic cooperation, trust, and interoperability between the two nations, with a focus on counter-terrorism (CT) operations under Chapter VII of the United Nations Charter.
Phased Execution: The exercise was divided into three distinct phases:
Phase I: Orientation and Preparation
- Focused on familiarizing contingents with CT operations as part of UN peacekeeping mandates.
- Key activities: Briefings on operational environments, understanding shared goals, and initial planning.
Phase II: Table Top Exercises (TTX)
Scenario-based wargaming: Discussed hypothetical contingencies and responses in counter-terrorism and peacekeeping scenarios.
Key themes covered:
- Intelligence, surveillance, reconnaissance.
- Role of force multipliers, including advanced technology and logistics planning.
Phase III: Finalization and Review
- Consolidated all operational plans and key takeaways from the exercise.
- Reviewed lessons learned to optimize future joint operations.
Themes and Focus Areas
- Counter-Terrorism (CT): Planning and executing joint operations to combat terrorism.
- Force Multipliers: Utilization of advanced technology and equipment in sub-conventional warfare scenarios.
- Hybrid Warfare: Emphasis on cyber operations, information management, and combating unconventional threats.
- Humanitarian Assistance and Disaster Relief (HADR): Training for crisis management scenarios like natural disasters and emergency evacuations.
- Casualty Management and Logistics: Enhancing operational support for troops during combat and peacekeeping missions.
Cambodia:
- Capital: Phnom Penh
- Currency: Cambodian riel
- King: Norodom Sihamoni
Indian Army commence 2024 Harimau Shakti exercise with Malaysian Army
India and Malaysia commenced the bilateral Joint Military Exercise “Harimau Shakti” on 2 December 2024 at Bentong camp, Pahang district, Malaysia. In 2023, the Indian Army hosted the exercise at its Umroi Cantonment in Meghalaya.
- The 2024 edition of the annual bilateral exercise will be held from 2 to 15 December 2024.
- The first annual bilateral military exercise, Harimau Shakti, between the Indian Army contingent and the Malaysian Army contingent was held in October 2012 in Kuala Lumpur, Malaysia.
- The joint combat exercise aims to create greater synergy and interoperability between the two armed forces.
Participants of the 2024 Harimau Shakti Exercise
In the 2024 edition of the Harimau Shakti Exercise, 78 personnel of the Indian Army’s Mahar Regiment will represent the Indian contingent, and 123 personnel of the Royal Malaysian Regiment will represent the Malaysian side.
Focus of the Exercise
- The exercise will boost friendly military ties between the two countries and enhance their capability to undertake joint counter-insurgency operations in jungle terrain.
- The exercise will be conducted in two phases.
Phase I—The first phase will focus on cross-training between both Armies, including lectures, demonstrations, and practice of various drills in jungle terrain.
Phase II- Both armies will take an active part in a simulated exercise, wherein troops will execute various drills, including Anti- Ambush, Occupation of Harbour, Carrying out Recce Patrol, Ambush and an Attack on an area taken over by the terrorists.
India-Malaysia Defence Ties
- India and Malaysia share good bilateral ties, and their diplomatic relationship was established in 1957.
- During Malaysian Prime Minister Ibrahim Anwar’s visit to India in August 2024, both countries upgraded their bilateral relationship to the Comprehensive Strategic Partnership level.
Malaysia:
- Capital: Federal Territory of Kuala Lumpur
- Official language: Malay
- Prime minister: Anwar Ibrahim
Appointment news
Jay Shah Became A Youngest ICC Chairman in History
Jay Shah has officially commenced his tenure as the Chairman of the International Cricket Council (ICC), becoming the youngest ever to hold the prestigious position at the age of 36. His appointment marks a significant moment in global cricket, as he steps into a leadership role at a critical time for the sport, with significant opportunities for expansion and inclusivity.
Key Highlights of Jay Shah’s Tenure as ICC Chairman
Historic Appointment
- At 36 years old, Jay Shah is the youngest individual to ever serve as the ICC Chairman.
- He succeeds Greg Barclay, acknowledging the contributions of his predecessor during his four-year term.
Vision for Global Cricket
- Shah is focused on cricket’s inclusion in the LA28 Olympic Games, preparing the sport for a global platform.
- He envisions making cricket more inclusive and popular worldwide.
- His strategy includes balancing multiple formats of the game, while accelerating the growth of women’s cricket.
ICC:
The International Cricket Council (ICC) is the global governing body for the sport of cricket. Established in 1909, it is responsible for the administration and promotion of cricket worldwide, overseeing international competitions, setting the rules of the game, and maintaining the integrity of the sport.
Key Facts About ICC:
Formation and History:
- The ICC was originally founded as the Imperial Cricket Conference in 1909 by the representatives of England, Australia, and South Africa.
- It became the International Cricket Conference in 1965 and was renamed the International Cricket Council in 1989.
Headquarters: The ICC is headquartered in Dubai, United Arab Emirates.
Indian-Origin Kash Patel Announced Next Director of FBI
In a significant move, Kash Patel has been announced as the next Director of the Federal Bureau of Investigation (FBI) by President-elect Donald Trump, succeeding Christopher Wray. Patel, a long-time loyalist to Trump, is known for his outspoken criticism of federal agencies, including the FBI, and is a staunch supporter of Trump’s policies.
Key Highlights of Kash Patel’s Appointment:
- New Role: Patel will take over as the FBI Director, replacing Christopher Wray, who has served in the role since 2017.
- Trump Loyalty: Patel is recognized for his unwavering support of Trump’s agenda, often aligning with the President’s views and actions.
- Criticism of Federal Agencies: He has been a vocal critic of agencies like the FBI, which he believes undermined Trump’s policies, particularly during the Russiagate investigation.
Key Roles in Trump’s Presidency:
- Political Transition: Patel transitioned from a legal to a political career in 2016, becoming an aide to Congressman Devin Nunes, a key Trump ally.
- Russiagate Involvement: Patel played a significant role in scrutinizing the 2016 Russiagate investigation, focusing on alleged FBI misconduct, including the wiretapping of Carter Page and the origins of the Steele dossier. His involvement in these investigations solidified his position as a prominent Trump loyalist.
Sports news
Arjun Erigaisi : 2nd Indian Chess player to achieve 2800 Elo rating
Grand Master Arjun Erigaisi has become the second Indian chess player and 16th in the world to achieve 2800 Elo rating points in classical chess. The International Chess Federation (FIDE) announced this in a social media post on 1 November 2024.
- The 21-year-old Indian is the second India after Vishwanathan Anand to achieve 2800 Elo rating points.
- The 21-year-old Arjun Erigaisi is currently ranked number 4 by FIDE, after Grand Master Magnus Carlsen, Grand Master Fabiano Caruana, and Grand Master Hikaru Nakamura.
- This year has been fabulous for the Warangal, Telangana boy Arjun Erigaisi. He won the individual gold medal at the 45th FIDE Chess Olympiad, held in Budapest, Hungary, from 10 to 23 September 2024.
- Erigaisi was also instrumental in the Indian men’s team performance which won the gold at the 45h Chess Olympiad.
Elo Rating System
- Elo rating was devised by an American physics professor and chess player, Arpad Elo.
- The Elo rating system has been designed to rate the strength of a chess player.
- The Elo rating system was officially adopted by FIDE in 1970.
- Magnus Carlsen of Norway achieved the highest-ever Elo rating..
Sindhu & Lakshya win 2024 Syed Modi International Badminton tournament
The 2024 Syed Modi International Badminton Tournament, part of the BWF World Tour 300, concluded with impressive victories for Indian shuttlers PV Sindhu and Lakshya Sen in the singles categories, and the women’s doubles duo Gayatri Gopichand and Treesa Jolly. The tournament was held at the Babu Banarsi Das Indoor Stadium in Lucknow, Uttar Pradesh, from November 26 to December 1, 2024, with a total prize money of USD 2.10 lakh.
Key Highlights from the Tournament:
- PV Sindhu’s First Title Since 2022: After a two-year title drought, PV Sindhu clinched her first BWF title since her win at the 2022 Singapore Open. She triumphed over Wu Luo Yu from China in the Women’s Singles final, winning 21-14, 21-16. This victory marked a significant return to form for Sindhu, who had previously reached the finals at the 2023 Spain Masters Super 300 and 2024 Malaysia Masters Super 500 but fell short.
- Lakshya Sen’s Fifth BWF Title: Lakshya Sen, who had a strong showing at the 2024 Paris Olympics but lost in the semi-finals, secured his fifth BWF singles title by defeating Jia Heng Jason Teh of Singapore in the Men’s Singles final. Sen dominated the match with a resounding 21-6, 21-7 victory.
- Women’s Doubles Success: The Indian duo of Gayatri Gopichand and Treesa Jolly won the Women’s Doubles title, defeating Bao Li Jing and Li Qian from China with scores of 21-18, 21-11. This was their second BWF title, after their first win at the Odisha Open in 2022.
Other Event Results:
Men’s Doubles: Huang Di and Liu Yang (China) defeated Pruthvi Krishnamurthy Roy and Sai Pratheek K (India).
Mixed Doubles: Dechapol Puavaranukroh and Supissara Paewsampran (Thailand) won the Mixed Doubles title, beating the Indian pair Dhruv Kapila and Tanisha Crasto.
About the Syed Modi International Tournament:
- The Syed Modi International Badminton Tournament is held annually in Lucknow, India, since 2009, in memory of the late Indian badminton player Syed Modi.
- Since 2018, it has been part of the BWF World Tour.
- The tournament has become one of the key badminton events in India, featuring top international players.
About the Badminton World Federation (BWF):
- The BWF is the global governing body for the sport of badminton, established in 1934 in London as the International Badminton Federation (IBF).
- The BWF organizes several major tournaments, including the World Junior Championships, World Senior Championships, Sudirman Cup, and the Thomas and Uber Cup.
Headquarters: Kuala Lumpur, Malaysia
President of BWF: Poul-Erik Høyer Larsen (Denmark)
Important days
World AIDS Day 2024: Date, Theme, and History
World AIDS Day, observed annually on December 1 since 1988, is a pivotal global event aimed at raising awareness about HIV/AIDS, promoting solidarity, and advancing the fight against this epidemic. It serves as a reminder of the progress made in prevention, treatment, and care, while also highlighting the ongoing challenges in the battle against HIV/AIDS. This observance plays a crucial role in reducing stigma, commemorating those who have lost their lives to AIDS, and promoting Universal Health Coverage (UHC) and the Right to Health for all.
2024 Theme: “Take the rights path: My health, my right!”
The theme for World AIDS Day 2024 emphasizes the importance of human rights in the fight against HIV/AIDS. The campaign advocates for:
- Equitable access to healthcare services for everyone.
- Empowering individuals to exercise their right to health.
- Addressing systemic inequalities that limit access to vital services like HIV prevention, testing, and treatment, especially for vulnerable populations.
By adopting a rights-based approach, the 2024 campaign aims to:
- Foster inclusivity in HIV/AIDS services.
- Promote global cooperation to combat the epidemic.
- Reduce stigma and discrimination against people living with HIV.
- The 2024 theme is closely aligned with the global goal of eradicating AIDS as a public health threat by 2030, advocating for community-led and sustainable solutions to end the epidemic.
History of World AIDS Day
World AIDS Day was first conceptualized in 1988 by James W. Bunn and Thomas Netter, two public information officers at the World Health Organization (WHO). Their initiative was designed to raise awareness during the early outbreak of the HIV/AIDS epidemic. Since then, World AIDS Day has evolved into a global platform to:
- Highlight scientific advancements in the fight against HIV/AIDS.
- Reflect on global and national policies addressing HIV/AIDS.
- Advocate for the rights of people living with HIV (PLHIV), ensuring that they are treated with dignity and respect.
