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We at Edusprint Academy are committed to bringing you the most relevant and updated 31st 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
Indian Army Unveils Chhatrapati Shivaji Statue at Pangong Tso
The Indian Army installed a statue of Chhatrapati Shivaji Maharaj at Pangong Tso, Ladakh, on December 26, 2024.
Represents the Maratha king’s legacy of valor and foresight, while asserting India’s strategic and cultural stance near the Line of Actual Control (LAC).
Strategic Significance
- Symbol of Commitment: Positioned at 14,300 feet, the statue underscores India’s dedication to securing its borders amidst tensions with China.
- Infrastructure Push: Aligns with efforts to bolster surveillance, mobility, and defensive readiness in the Ladakh region, following the 2020 standoff at Pangong Tso.
Local Concerns
- Cultural Relevance: Local leaders like Chushul Councillor Konchok Stanzin have raised concerns about the lack of consultation and the statue’s alignment with Ladakh’s unique heritage.
- Environmental Impact: Questions about ecological preservation in a sensitive region have also emerged.
Broader Strategic Context
- The statue aligns with India’s ongoing disengagement talks with China, particularly after progress at key points like Demchok and Depsang.
- Highlights India’s commitment to territorial integrity while asserting its strategic parity with China.
- This move blends national symbolism with strategic posturing, though it also calls for addressing local and ecological concerns.
Indian army
- India army head: Manoj Pande
- Indian army founded: 1 April 1895
State News
Sikkim’s Kagyed Dance Festival
The Kagyed Chaam Dance Festival, one of Sikkim’s most revered Buddhist celebrations, is held annually at Tsuklakhang Palace in Gangtok. Marked by elaborate masked dances performed by Buddhist monks and lamas, the festival symbolizes the destruction of negative forces and the ushering in of peace and prosperity for the new year. Enacted on the 28th and 29th day of the 10th month of the Tibetan Lunar Calendar (early December), it is a vibrant cultural event drawing both locals and international tourists seeking spiritual blessings. The festival concludes with the ritualistic burning of effigies, representing the victory of good over evil.
Historical Significance
- Tibetan Buddhism Roots: Linked to Guru Padmasambhava, who introduced Buddhism to Sikkim.
- Symbolic Masks: Dances depict tales from Buddhist mythology using masks of deities, humans, and animals.
Timing and Venues
- Date: Early December, two days before the Losoong Festival.
- Locations: Tsuklakhang Palace, Rumtek Monastery, and Phodong Monastery.
Highlights and Rituals
Masked Dances: Monks perform in ornate costumes to drumbeats and trumpets.
Effigy Burning: Marks the festival’s conclusion, symbolizing the triumph of good over evil.
The festival attracts both locals and tourists, offering spiritual blessings and a vivid cultural experience.
Sikkim:
- Capital: Gangtok
- Chief minister: Prem Singh Tamang
- Governor: Om Prakash Mathur
International news
Sauraha Hosts 18th Elephant Festival
The 18th Elephant and Tourism Festival held in Sauraha, Chitwan, Nepal, has drawn both local and international visitors with its exciting blend of wildlife events and cultural activities. The five-day festival, aligning with New Year and Christmas celebrations, took place near the Chitwan National Park and concluded on December 30, boosting tourism in the region.
Key Highlights:
Location and Timing:
- Held in Sauraha, Chitwan, at the Baghmara Intermediate Community Forest.
- The event coincides with the English New Year and Christmas.
- Runs for five days, concluding on December 30.
Major Attractions:
Elephant-Centric Events:
- Elephant parades, beauty contests, and football competitions with over 80 elephants participating.
- Notable elephants such as Champakali, Basnatikali, and Ramkali featured in penalty shootouts.
- Elephant picnics allowing visitors to bond with and feed the elephants.
Cultural Activities: Traditional costume performances and music showcasing Nepal’s rich cultural heritage.
Nepal:
- Capital: Kathmandu
- Currency: Nepalese Rupee
- Prime minister: KP Sharma Oli
Economy news
Deloitte Projects Indian Economy to Grow at 6.5-6.8% in FY25
- The Indian Army installed a statue of Chhatrapati Shivaji Maharaj at Pangong Tso, Ladakh, on December 26, 2024.
- Represents the Maratha king’s legacy of valor and foresight, while asserting India’s strategic and cultural stance near the Line of Actual Control (LAC).
Strategic Significance
- Symbol of Commitment: Positioned at 14,300 feet, the statue underscores India’s dedication to securing its borders amidst tensions with China.
- Infrastructure Push: Aligns with efforts to bolster surveillance, mobility, and defensive readiness in the Ladakh region, following the 2020 standoff at Pangong Tso.
Local Concerns
- Cultural Relevance: Local leaders like Chushul Councillor Konchok Stanzin have raised concerns about the lack of consultation and the statue’s alignment with Ladakh’s unique heritage.
- Environmental Impact: Questions about ecological preservation in a sensitive region have also emerged.
Broader Strategic Context:
- The statue aligns with India’s ongoing disengagement talks with China, particularly after progress at key points like Demchok and Depsang.
- Highlights India’s commitment to territorial integrity while asserting its strategic parity with China.
- This move blends national symbolism with strategic posturing, though it also calls for addressing local and ecological concerns.
Banking news
SEBI Approves Enlighten Angel Fund as an AIF to Support Early-Stage Startups
In December 2024, the Securities and Exchange Board of India (SEBI) approved Enlighten Angel Fund to operate as an Alternative Investment Fund (AIF). The platform aims to support early-stage startups in India, with a focus on emerging technologies, smart manufacturing, and the electric vehicle sectors.
Key Developments
Rs. 200 Crore Micro Venture Capital (VC) Fund: Enlighten has launched a Rs. 200 crore fund, with an additional Rs. 100 crore greenshoe option to strengthen its support for emerging entrepreneurs in India.
- Greenshoe Option: This facility allows underwriters in IPOs to purchase up to 15% more shares than initially offered, providing flexibility and support in market conditions.
- Company’s Evolution: Enlighten Angel Fund has rebranded itself as Enlighten Capital Micro VC, signaling the start of its growth phase within the expanding startup ecosystem.
In the past two years, it has facilitated over 10 startup investments, contributing to India’s growing entrepreneurial landscape.
SEBI:
- Founded: 12 April 1988
- Headquarters: Mumbai, Maharashtra
- Agency executive: Madhabi Puri Buch, Chairperson
Bajaj Allianz Launches Innovative Motor Insurance Add-Ons for Enhanced Coverage and Sustainability
Bajaj Allianz General Insurance Limited has introduced two new motor insurance add-on covers: ‘Eco Assure – Repair Protection’ and ‘Named Driver Cover’. These offerings aim to provide personalized coverage, convenience, and sustainability, catering to the growing demand for motor insurance in India.
Eco Assure – Repair Protection: This unique add-on focuses on eco-friendly and cost-effective vehicle repairs without the need for compulsory deductibles.
Sustainability and Quality: Prioritizes eco-friendly vehicle repairs and replacements, ensuring high-quality service while contributing to environmental conservation.
Eligibility and Coverage: Available for private cars up to 12 years old, offering an affordable repair option with a Green Certificate of Acknowledgement (GCA) for environmental contribution.
Additional Features:
- One-year repair protection
- Door-to-door vehicle pick-up and drop-off
- Repairs at Bajaj Allianz’s preferred workshops without depreciation costs
Additional Benefits:
- 24/7 roadside assistance
- Engine and gearbox protection
- Special care for electric and hybrid vehicles
- Coverage for consumables, fuel adulteration damage, and rodent bites
- Additional coverage for legal costs, personal baggage, and lost keys
About Bajaj Allianz General Insurance Company Limited
Overview: Bajaj Allianz General Insurance Company Limited is a joint venture between Bajaj Finserv Limited (an Indian financial services company) and Allianz SE (a leading global insurer based in Germany).
Inception: Bajaj Allianz General Insurance received its Certificate of Registration (COR) from the Insurance Regulatory and Development Authority of India (IRDAI) in May 2001, allowing it to operate in India.
- Management: The company is led by Tapan Singhel, who serves as the Managing Director (MD) and Chief Executive Officer (CEO).
- Headquarters: Bajaj Allianz General Insurance is headquartered in Pune, Maharashtra.
Aditya Birla Capital Becomes the First BFSI Company to Offer Financial Services on ONDC Network
Aditya Birla Capital Limited (ABCL), based in Mumbai, has achieved a significant milestone by becoming the first Banking, Financial Services, and Insurance (BFSI) company to offer its core financial services—lending, insurance, and Mutual Fund (MF) investments—on the Open Network for Digital Commerce (ONDC) platform.
Key Highlights
Financial Inclusion: This move aims to enhance financial inclusion by offering a wide range of financial products, making them accessible to underserved markets across the country.
Live Buyer Applications: The ONDC network will now enable various live buyer applications to provide customers with Mutual Funds (MF), health insurance, and personal loans from ABCL.
Early Adoption of Credit Integration: Aditya Birla Finance Limited (ABFL) was an early adopter of credit integration during ONDC’s pilot phase, while Aditya Birla Health Insurance Company Limited (ABHICL) and Aditya Birla Sun Life Asset Management Company (ABSLAMC) were among the first to offer health insurance and Mutual Fund services on the platform.
Agreement news
DPIIT Partners with boAt to Boost Startup Ecosystem in India
The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with boAt, a leading Indian audio and wearables brand, to bolster innovation and support startups, particularly in the Direct-to-Consumer (D2C) and manufacturing sectors. The collaboration seeks to mentor and empower startups to scale locally and internationally, aligning with the government’s ‘Make in India’ initiative.
Key Features of the Partnership
Mentorship Programs:
- Tailored programs for startups to receive guidance on critical stages like prototype development.
- Expert insights and hands-on support from boAt and DPIIT.
Global Expansion Opportunities: Facilitation of connections and resources to help startups explore international markets.
Commitment to Innovation: Aims to build globally competitive brands while fostering innovation and entrepreneurship.
Industry Leadership’s Vision
- DPIIT’s Perspective: Sanjiv Singh, Joint Secretary of Startup India, highlighted the partnership’s role in enhancing startup efficiency and advancing India’s global manufacturing ambitions.
- boAt’s Contribution: Aman Gupta, Co-founder of boAt, emphasized the company’s commitment to nurturing the startup ecosystem and driving innovation, particularly in product-based ventures.
- Significance: This strategic collaboration is set to empower Indian startups with mentorship, global opportunities, and resources, reinforcing their role in making India a global hub for innovation and manufacturing.
Sports news
Bumrah Breaks Record for Fastest 200 Wickets by an Indian
Jasprit Bumrah achieved a historic milestone during the Border-Gavaskar Trophy at the Melbourne Cricket Ground (MCG), becoming the fastest Indian bowler to reach 200 Test wickets. He accomplished this feat in just 44 Tests, surpassing Mohammed Shami’s record.
Key Highlights
- Fastest Indian to 200 Test Wickets
- Bumrah achieved this milestone with his 8,484th delivery, showcasing exceptional speed and efficiency.
- 200 Wickets in 44 Tests
- Bumrah joins the ranks of elite bowlers like Pat Cummins and Kagiso Rabada, who also reached 200 wickets in 44 Tests.
Impressive Bowling Average: Bumrah holds a sub-20 bowling average (19.56), making him the first bowler to achieve 200 wickets with such an outstanding average.
Comparison with Fast Bowlers: Globally, Bumrah is the fourth-fastest to reach 200 wickets, following legends Waqar Younis, Dale Steyn, and Kagiso Rabada.
Wickets in World Test Championship: A top performer in the ICC World Test Championship, Bumrah has secured 151 wickets, further solidifying his dominance.
New Indian Benchmark: Bumrah set a new benchmark for Indian pacers, breaking Shami’s record for the least number of balls to achieve 200 Test wickets.
Significance: Bumrah’s milestone reflects his exceptional skill, consistency, and impact on Indian cricket. His performance, including a pivotal role in the Boxing Day Test against Australia, cements his legacy as one of the finest bowlers in the history of the game.
Bihar to Host Women’s Kabaddi World Cup 2025
In March 2025, Bihar will host the Women’s Kabaddi World Cup at the Rajgir Sports Academy, marking the second time the state will organize the prestigious event. Bihar previously hosted the inaugural edition of the World Cup in 2012 at the Patliputra Sports Complex in Patna.
Key Details:
- Event Overview: The Women’s Kabaddi World Cup is an international competition organized by the International Kabaddi Federation (IKF), showcasing the talent of women kabaddi teams from around the world.
- Participants: The 2025 edition will feature 14 countries, including India, China, Japan, South Korea, Nepal, Pakistan, Iran, Indonesia, Sri Lanka, Thailand, Poland, Argentina, South Africa, and South America.
- Objective: The tournament aims to promote kabaddi as a global sport and provide an international platform for women’s teams to demonstrate their skills and passion for the sport.
Bihar:
- Capital: Patna
- Chief minister: Nitish Kumar
- Governor: Arif Mohammed Khan
Ranks and report news
Household Consumer Expenditure Survey 2023-24:
In December 2024, the Ministry of Statistics and Programme Implementation (MOSPI) released the Household Consumer Expenditure Survey 2023-24 (HCES: 2023-24), providing insights into the average consumption expenditure of Indian households.
Key Highlights
Average Monthly Per Capita Consumption Expenditure (MPCE):
- Rural India: Rs 4,122
- Urban India: Rs 6,996
Growth in MPCE:
- Urban areas: 9% increase (from 2022-23)
- Rural areas: 8% increase (from 2022-23)
Urban-Rural Gap
MPCE Gap:
- 2011-12: 84%
- 2022-23: 71%
- 2023-24: 70%
This indicates a decreasing gap, reflecting sustained consumption growth in rural India.
State-wise Data
Highest MPCE:
Sikkim:
- Rural: Rs 9,377
- Urban: Rs 13,927
Lowest MPCE:
Chhattisgarh:
- Rural: Rs 2,739
- Urban: Rs 4,927
Conclusion: The survey highlights growing consumption in rural India, with notable regional variations in MPCE, marking Sikkim as the highest and Chhattisgarh as the lowest.
the Ministry of Statistics and Programme Implementation: Shri Rao Inderjit Singh
Science and tech news
ISRO successfully launches SpaDeX mission from Sriharikota
Indian Space Research Organisation (ISRO) successfully launched the Space Docking Experiment (SpaDeX) mission last night. ISRO’s PSLV-C60 rocket carrying two spacecraft that would aid in demonstration of space docking lifted off from the Satish Dhawan Space Centre in Sriharikota.
Mission Objectives
Demonstrate Space Docking Technology: A critical capability for future missions, including lunar expeditions and the Bharatiya Antariksh Station (BAS).
Develop Advanced Capabilities: Strengthens India’s ability for complex orbital operations and interplanetary missions.
Key Developments
- Satellites successfully deployed in low Earth orbit.
- Panels of both satellites successfully deployed post-launch.
Over the next 10 days: Satellites will travel 20 km before initiating rendezvous and docking.
ISRO:
- Founded: 15 August 1969
- Headquarters: Bengaluru
- Head: Sreedhara Panicker Somanath
Books and author news
Abhijit Banerjee Launches New Book “Chhaunk on Food, Economics, and Society”
Nobel Prize laureate Abhijit Vinayak Banerjee launched his new book titled “Chhaunk On Food, Economics and Society” during the curtain raiser of the Apeejay Kolkata Literary Festival (AKLF), held at the Oxford Bookstore in Kolkata, West Bengal. The book, co-authored by Cheyenne Olivier, is published by Juggernaut Publications.
Key Highlights:
Book Theme: “Chhaunk On Food, Economics and Society” explores Indian culinary traditions, weaving together personal memories, food, and economic insights. The book is a conversational and accessible read, featuring delicious recipes, and is particularly nostalgic for those who lived through the 1970s and 80s.
Author: Abhijit Vinayak Banerjee, an Indian-American economist, was awarded the 2019 Nobel Memorial Prize in Economic Sciences for his experimental work in poverty alleviation and economic development. He co-authored this book alongside Cheyenne Olivier.
Other Notable Works:
- Cooking to Save Your Life (2021)
- What the Economy Needs Now (2019)
- Poverty and Income Distribution in India (2019)
