Category: Current Affairs

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We at Edusprint Academy are committed to bringing you the most relevant and updated 21st 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

Union Cabinet Approves Bills for One Nation, One Election (ONOE)

In December 2024, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved two significant bills aimed at implementing the One Nation, One Election (ONOE) initiative. This initiative seeks to synchronize the elections for the Lok Sabha, state legislative assemblies, and local bodies across India in a phased manner.

Key Bills Approved:

Constitution (129th Amendment) Bill, 2024:

• Aims to align the terms of the Lok Sabha and state assemblies for simultaneous elections.
• This bill will amend the Constitution to allow for synchronized electoral schedules, reducing election-related disruptions.

Union Territories Laws (Amendment) Bill, 2024:

• Focuses on aligning the election schedules of Union Territories (UTs) such as Puducherry, Delhi, and Jammu & Kashmir with the Lok Sabha elections.
• Ensures a more streamlined election process across the entire nation.

Context and Recommendations:

• These bills are based on the recommendations of the High-level Committee on Simultaneous Elections, which was formed under the chairmanship of former President Ram Nath Kovind in September 2023.
• The committee’s report provided detailed suggestions for implementing ONOE, including addressing logistical, constitutional, and practical challenges.

Additional Points:

Benefits:

• Reduction in election-related costs for the government and political parties.
• More effective governance due to a more stable political environment.
• Efficient use of resources, both human and financial, for election administration.

Challenges:

• Legal and constitutional amendments will require cooperation from various stakeholders.
• There may be concerns about the feasibility of managing multiple elections simultaneously, especially in terms of logistics and voter turnout.
• The approval of these bills marks a significant step towards realizing the One Nation, One Election vision, which aims to bring electoral harmony and stability across India.

Bharat Mobility Global Expo 2025: India’s Automotive Milestone

The Bharat Mobility Global Expo 2025 will take place from January 17-22 across Delhi NCR, marking India’s growing role as a global hub for mobility. With over 1,500 exhibitors and an expected 500,000 visitors, the event is set to become the world’s second-largest auto show. Key automotive giants such as Maruti Suzuki, Tata Motors, and BYD will showcase new models, with a focus on electric vehicles (EVs), hybrid technologies, and alternative fuels. In its second edition, the expo promises to build on the success of the inaugural 2024 event, reinforcing India’s commitment to sustainable mobility and engineering excellence.

Global Presence

Participation from 13+ countries, including:

• Germany.
• Japan.
• USA.

International companies presenting cutting-edge automotive solutions.

International news

UK Joins the Comprehensive & Progressive Agreement for Trans-Pacific Partnership (CPTPP)

In December 2024, the United Kingdom (UK) officially became the first European country to join the Comprehensive & Progressive Agreement for Trans-Pacific Partnership (CPTPP), a significant trade bloc in the Indo-Pacific region.

• 12th Member of CPTPP: The UK is now the 12th member of the CPTPP, and the first non-founding member to join the trade bloc.
• This move is a key part of the UK’s post-Brexit strategy to strengthen its global trade relationships after withdrawing from the European Union (EU) in 2020.

About CPTPP:

Successor to TPPA: The CPTPP succeeded the Trans-Pacific Partnership Agreement (TPPA), originally involving 12 Pacific Rim countries. The United States formally withdrew from the TPPA in 2017, leading to the creation of the CPTPP.

Free Trade Agreement: It is a Free Trade Agreement (FTA) signed by 11 countries: Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, Peru, New Zealand, Singapore, and Vietnam.

Agreement Signed: The CPTPP was signed on March 8, 2018.

Pact Enactment: Initially, it came into force on December 30, 2018, for six countries (Australia, Canada, Japan, Mexico, New Zealand, and Singapore).

Expansion: The pact has since expanded to include other countries: Vietnam (2019), Peru (2021), Malaysia (2022), Chile (2023), and Brunei Darussalam (2023).

About the United Kingdom (UK):

• Prime Minister: Keir Starmer.
• Capital: London.
• Currency: Pound Sterling (GBP).

Economy news

CareEdge Ratings Revises India’s GDP Growth Forecast for FY25

In December 2024, CareEdge Ratings, a subsidiary of Care Ratings Limited, revised its Gross Domestic Product (GDP) projection for India to 6.5% for Financial Year 2024-25 (FY25), down from the earlier estimate of 6.8%. The agency also projects a 6.7% growth for India’s GDP in FY26.

Key Factors Behind the Downward Revision:

• Slower Growth in Q2 (FY25): A weaker performance in the second quarter (July-September) of FY25.
• Corporate Profitability: A sharper contraction in corporate profitability during the same period.
• Reduced Public Capital Expenditure: A decline in public capital expenditure (capex) in the first half (H1) (April to September) of FY25.

Growth Projections and Expectations:

• Second Half (H2) Rebound: CareEdge expects the Indian economy to rebound in the second half (October to March) of FY25, primarily due to a recovery in consumption and a rise in government capital expenditure.
• Nominal GDP Projection: The nominal GDP growth for FY25 is projected at 9.9%, lower than the budgeted estimate of 10.5%.

Fiscal and Economic Outlook:

• Fiscal Deficit: CareEdge projects the fiscal deficit of the central government at 4.8% of GDP for FY25, slightly below the budgeted 4.9%.
• Capex Shortfall: The agency estimates that central government capital expenditure will fall short of its target by Rs 1.5 trillion, which could impact long-term infrastructure growth.

Export Growth:

• Merchandise Exports: Expected to grow by 2.5% in FY25 amid global uncertainties.
• Services Exports: Projected to rise by 13%.
• Current Account Deficit (CAD): The Current Account Deficit is expected to remain manageable at 0.9% of GDP for FY25, demonstrating resilience in the external sector.

About CareEdge Ratings:

• Managing Director (MD) and CEO: Mehul Pandya.
• Headquarters: Mumbai, Maharashtra.
• Established: 1993.

India Achieves Significant Milestone with USD 1 Trillion FDI Inflows

In December 2024, India reached a remarkable economic milestone, with gross Foreign Direct Investment (FDI) inflows totaling USD 1 trillion since April 2000, marking a significant achievement in its economic journey.

Key Highlights:

• FDI Growth in FY25: In the first half of the Financial Year 2024-25 (FY25), FDI inflows increased by 26%, amounting to USD 42.1 billion.
• FDI in the Last Decade: Between April 2014 to September 2024, India received USD 709.84 billion in FDI, which constitutes 68.69% of the total FDI inflows over the past 24 years.

Government Initiatives:

• Make in India: The “Make in India” initiative has played a pivotal role in attracting investments, fostering a conducive environment for industrial growth.
• Liberalized Policies & GST: Liberalized sectoral policies and the introduction of the Goods and Services Tax (GST) have strengthened the investment ecosystem in India.
• Income Tax Act Amendment: The 2024 amendment to the Income Tax Act, 1961 abolished angel tax and reduced the income tax rate for foreign companies, further boosting investor confidence.

India’s Global Rankings & Achievements:

• World Competitive Index 2024: India improved its position to 40th from 43rd in 2021.
• Global Innovation Index 2023: India ranked 40th out of 132 economies, securing the 48th position among the top 50 most innovative countries.
• Greenfield Projects: According to the World Investment Report 2023, India was the 3rd largest recipient of greenfield projects, with 1,008 announcements, reflecting its strong appeal to new investments.

This economic success highlights India’s growing prominence as a global investment destination, supported by government reforms and initiatives designed to strengthen the country’s investment climate.

Award news

Kiran Mazumdar-Shaw Conferred with 2024 Jamsetji Tata Award

In December 2024, Kiran Mazumdar-Shaw, the Chairperson of Biocon Group, was conferred the 2024 Jamsetji Tata Award by the Indian Society for Quality (ISQ) at its Annual Conference 2024 held in Bengaluru, Karnataka.

Award Recognition:

• Award Reason: Kiran Mazumdar-Shaw was honored for her pioneering contributions to the bioscience movement in India since 1978. As a first-generation entrepreneur, she established Biocon Limited and associated companies, serving customers both in India and across the globe.
• Presentation: The award was presented to her by Janak Kumar Mehta, President of ISQ and Chairman & Managing Director (CMD) of TQM International.

About Kiran Mazumdar-Shaw:

Biotech Pioneer: Kiran Mazumdar-Shaw is the founder of Biocon, a leading global biopharmaceuticals enterprise.

Awards & Honors:

• She was awarded the Padma Shri (Trade & Industry) in 1989 and the Padma Bhushan (Science & Engineering) in 2005.
• In 2020, she received the Order of Australia, the country’s highest civilian honor, and was named EY World Entrepreneur of the Year.
• In 2014, she was honored with the Othmer Gold Medal by the U.S.-based Chemical Heritage Foundation.

About the Jamsetji Tata Award:

• Institution: The Jamsetji Tata Award was established in 2004 by the Indian Society for Quality (ISQ).
• Purpose: The award recognizes business leaders who have made substantial contributions to Indian society.
• Named After: It is named after Jamsetji Tata, known as the ‘Father of Modern Indian Industry’.
• Kiran Mazumdar-Shaw’s receipt of this prestigious award underscores her significant role in transforming India’s biotechnology sector and her lasting impact on the global healthcare landscape.

Agreement news

India and France Collaborate to Establish World’s Largest Museum

The Ministry of Culture, in partnership with France Museums Développement (FMD), has launched an ambitious project to develop the Yuga Yugeen Bharat National Museum as a global cultural landmark. Spanning approximately 1,55,000 square meters across the North and South Blocks in New Delhi, the museum will celebrate India’s civilizational history and serve as a cornerstone of the Central Vista Redevelopment Project.

Objective:

• To develop the Yuga Yugeen Bharat National Museum as a global cultural landmark.
• Showcase India’s civilizational history and heritage.

Location: Spanning 1,55,000 square meters across the North and South Blocks in New Delhi.

Key Association: A partnership between India’s Ministry of Culture and France Museums Développement (FMD).

Alignment: Part of the Central Vista Redevelopment Project, emphasizing modern infrastructure and heritage preservation.

Project Timeline

Announcement:

• Announced by Prime Minister Narendra Modi at the International Museum Expo in May 2023.
• Reiterated during the Bharat Mandapam inauguration in July 2023.

Phase-wise Execution: North Block Transformation Deadline: June 2026.

Relocation of Ministries:

• Ministries of Finance, Home Affairs, and others will move to the Common Central Secretariat by March 2025.
• Retrofitting of the North and South Blocks to commence after the relocation.

France:

• Capital: Paris
• President: Emmanuel Macron

CENJOWS and NDMA Sign MoU to Strengthen Disaster Management in India

In December 2024, the Centre for Joint Warfare Studies (CENJOWS), a tri-services think tank under the Headquarters Integrated Defence Staff (HQ IDS), Ministry of Defence, signed a Memorandum of Understanding (MoU) with the National Disaster Management Authority (NDMA) to enhance India’s disaster management capabilities.

Key Highlights of the MoU:

Signatories:

• Lt Gen Syed Ata Hasnain (Retd), Member, NDMA.
• Major General (Dr) Ashok Kumar (Retd), Director General, CENJOWS.
• The agreement establishes a strategic collaboration to tackle the critical challenges in disaster preparedness, response, and mitigation, aiming to create a “whole of the nation” approach for disaster management.

Key Areas of Collaboration:

• Collaborative Research: Joint research on disaster management, Humanitarian Assistance and Disaster Relief (HADR) operations, and disaster diplomacy to inform government policies.
• Capacity Building: Organizing workshops, seminars, and training programs for key stakeholders, including armed forces, NDMA officials, and other relevant agencies.
• Awareness Campaigns: Nationwide initiatives to raise awareness on disaster preparedness and risk reduction, promoting community resilience.
• International Engagements: Promoting international cooperation in disaster management, in alignment with India’s broader foreign policy objectives.

Objective:

The MoU aims to enhance India’s capacity to manage disasters efficiently and effectively, leveraging the combined expertise of both CENJOWS and NDMA. This collaboration will contribute to strengthening India’s disaster management framework, improving national and international disaster response capabilities.

Banking news

Centre, ADB Sign $42 Million Loan for Coastal Protection in Maharashtra

The Central government and the Asian Development Bank (ADB) have signed a $42 million loan agreement to bolster coastal and riverbank protection in Maharashtra. This initiative aims to enhance the resilience of coastal communities and ecosystems by employing hybrid approaches, such as offshore reefs, rock protection works, and nature-based solutions like beach and dune nourishment. Advanced technologies, including remote sensing and climate change impact predictions, will improve shoreline management while addressing issues in tourism and fisheries sectors.

Overview

Parties Involved: Central Government of India and Asian Development Bank (ADB).

Loan Amount: $42 million.

Purpose:

• To enhance coastal and riverbank protection in Maharashtra.
• Focus on resilience of coastal communities and ecosystems.

Key Objectives

Combating Coastal Erosion: Implementation of hybrid approaches for stabilizing Maharashtra’s coastline.

Methods include:

• Offshore reefs.
• Rock protection works.
• Nature-based solutions like beach and dune nourishment.

Enhanced Resilience:

• Addressing challenges faced by tourism and fishery sectors, critical for local livelihoods.
• Mitigating risks of erosion and flooding.

Community Inclusion:

Active participation of:

• Women, youth, and vulnerable groups.
• Focus on disaster preparedness and response strategies.

Asian development bank:

• Headquarters: Mandaluyong, Philippines
• Founded: 19 December 1966
• President: Masatsugu Asakawa (until February 23, 2025), Masato Kanda

Appointment news

Reappointment of Dr. Shankar Prasad Sharma as Nepal’s Ambassador to India

Reappointed as Nepal’s Resident Ambassador to India by President Ram Chandra Paudel. Appointment made under Article 282 (1) of Nepal’s Constitution, following the Council of Ministers’ recommendation.

• Previous Tenure:
  • Served as Ambassador to India from March 2022 to July 2024.
• Reappointment Timeline:
  • Received Agrément from India on December 13, 2024, 2.5 months after Nepal’s proposal.

Netra Prasad Timilsina: Appointed as the Resident Ambassador of Nepal to Malaysia.

Nepal:

• Capital: Kathmandu
• Currency: Nepalese Rupee
• Official language: Nepali

Sports news

Salman Khan Named Brand Ambassador for Kho Kho World Cup

The Kho Kho Federation of India (KKFI) has officially appointed Bollywood superstar Salman Khan as the brand ambassador for the inaugural Kho Kho World Cup, which will be held in New Delhi from January 13 to 19, 2025. This event will see the participation of teams from 24 countries and is set to boost the global profile of Kho Kho. The tournament aims to showcase the sport’s widespread appeal, with an exciting lineup of men’s and women’s teams competing for the first time on the world stage.

Event Dates & Location:

• The Kho Kho World Cup will take place from January 13 to 19, 2025, in New Delhi.
• Teams from 24 countries will participate.

Salman Khan’s Role:

• Salman Khan has been appointed as the brand ambassador for the inaugural Kho Kho World Cup.
• He expressed enthusiasm for the sport, highlighting its cultural significance and India’s spirit.

Tournament Features:

• 21 men’s teams and 20 women’s teams will compete.
• A demonstration match featured star players like Pratik Waiker, Aditya Ganpule, Ramji Kashyap, and Priyanka Ingle.

Importance of the Event:

• The tournament marks a major step in bringing global attention to Kho Kho, a traditional Indian sport.
• Expected to attract a large global audience, with media coverage amplified by Salman Khan’s involvement.

Support from Key Organizations:

• The Indian Olympic Association (IOA) is supporting the event.
• KKFI President, Shri Sudhanshu Mittal, thanked Salman Khan for boosting the sport’s visibility.

Kho Kho Federation of India:

• President: Sudhanshu Mittal
• The Kho-Kho Federation of India (KKFI) was established in 1955

India Men’s Hockey Team Moves to 5th in Latest FIH Rankings for 2025

The Indian men’s hockey team has secured 5th place in the FIH World Rankings following an outstanding performance at the 2024 Paris Olympics, where they won back-to-back Olympic medals for the first time since 1972.

FIH World Rankings Overview:

• Netherlands: 1st (3,267 points)
• England: 2nd (3,139 points)
• Belgium: 3rd (3,124 points)
• India: 4th (2,955 points)
• Australia: 5th (2,814 points)

Historical Milestone: India’s rise in the rankings reflects its growing strength and consistency in international hockey. Since the introduction of the new Elo-based ranking system in 2020, India has made steady progress, despite never reaching the No. 1 spot.

Key Historical Milestones: India has had fluctuating rankings over the years, including a drop from the top 10 in 2008. However, recent successes like winning the 2023 Asian Games and qualifying for the Paris 2024 Olympics have helped elevate the team to its current position.

Looking Ahead: The FIH Hockey Pro League 2024-25 season begins in February 2025, and India aims to continue climbing the rankings while competing in Bhubaneswar. The team’s future is promising, with the goal of further advancing in the global standings and bringing more success to Indian hockey.

Team Asia Wins Inaugural Waldner Cup 2024

On December , 2024, Team Asia, featuring India’s Manika Batra and led by Ma Long, triumphed in the inaugural edition of the Waldner Cup 2024, defeating Team World with a score of 14-10 in Oslo, Norway.

Tournament Details:

• Dates: December 13-15, 2024
• Organized By: The tournament was created by Jan Ove Waldner, the legendary Swedish table tennis player and 1992 Olympic gold medallist.

Team Asia:

• Ma Long (China) – 6-time Olympic gold medallist
• Chen Meng (China) – Paris 2024 women’s singles champion
• Shin Yubin (South Korea) – 2-time Olympic bronze medallist
• Kirill Gerassimenko (Kazakhstan)
• Manika Batra (India)

Key Points:

Team World: The team was led by Truls Moregardh (Sweden), the Paris 2024 men’s singles silver medallist, and Dimitrij Ovtcharov (Germany), a 6-time Olympic medallist.

Match Progression: Team World led 10-8 after the second day, but Team Asia made a strong comeback, winning the last 3 matches to secure a 14-10 victory.

Final Match: Ma Long defeated Truls Moregardh in the final match, sealing the win for Team Asia.

About Waldner Cup:

• The Waldner Cup was a two-day event with male and female players competing in singles, doubles, and mixed doubles matches.
• Scoring System: One point was awarded for each win on the first day, and two points were awarded for each win on the second day.

Ranks and reports news

India Ranks 39th in Travel and Tourism Development Index 2024

India has significantly improved its position in the World Economic Forum’s (WEF) Travel and Tourism Development Index (TTDI) 2024, ranking 39th among 119 countries. This marks a sharp rise from its 54th place in the previous 2021 index, which was later adjusted to 38th after a revision in WEF’s methodology. The boost in India’s ranking reflects a strong recovery in global tourism, following the pandemic, and the country’s growing role as a hub for medical and cultural tourism.

Rank: India has improved its position to 39th place among 119 countries in the TTDI 2024, up from 54th in 2021 (which was later revised to 38th).

Key Drivers Behind the Growth:

Medical Tourism:

• India is emerging as a global leader in medical tourism, offering affordable healthcare.
• The Advantage Healthcare India portal, launched by the Ministry of Health, facilitates international patients seeking medical treatment in India.

Government Schemes for Tourism Development: The Ministry of Tourism has implemented schemes like Swadesh Darshan, PRASHAD, and Assistance to Central Agencies to enhance infrastructure and promote tourism across India.

Cultural Heritage and Infrastructure Development:

• India’s rich cultural heritage, with 43 World Heritage Sites and 56 potential sites, adds to its tourism appeal.
• Significant investments in 500 new air routes, 150 new airports, and high-speed trains like Vande Bharat have improved accessibility for tourists.

India’s Position and Progress:

• India’s 39th place highlights its role as a leading tourism destination, especially in South Asia.
• The improved infrastructure and government policies have positioned India as one of the top medical tourism hubs globally.
• This achievement reflects India’s growing influence in the global tourism industry and its recovery post-pandemic.

Important days

Sashastra Seema Bal (SSB) Raising Day and Amit Shah To Attend Event

The Sashastra Seema Bal (SSB) is to celebrate its 61st Raising Day on December 20, 2024, in Ranidanga, Siliguri. This milestone event will showcase the force’s achievements, cultural heritage, and contributions to border security. Union Home Minister Amit Shah has been invited to attend the celebrations. The event will feature a blend of cultural programs, sports demonstrations, and traditional performances, reflecting the vibrant diversity of the region.

Event Date & Venue:

• Date: December 20, 2024
• Location: Ranidanga, Siliguri

Official Attendees: Union Home Minister: Amit Shah (invited)

Event Features:

• Grand Parade: The main event will feature a grand parade on December 20, with a dress rehearsal scheduled for December 18.
• Cultural Programs: A vibrant array of cultural activities, including performances by local groups from Sikkim and North Bengal.
• Traditional Arts & Sports: Displays of traditional Indian acrobatic art Mallakhamb, martial arts, and sports demonstrations will showcase the force’s versatility.
• Toto Tribal Participation: The Toto tribal community will present their cultural traditions, highlighting the region’s rich heritage.

Goa Liberation Day 2024: Date, History, and Significance

Goa Liberation Day is celebrated on December 19 every year to mark the freedom of Goa from Portuguese rule in 1961. This event symbolizes the end of 451 years of colonial rule and commemorates the bravery and sacrifices of the freedom fighters. Goa became an integral part of India on this day, and the celebration continues to honor the historic struggle for independence.

Historical Significance:

• Marks the end of 451 years of Portuguese colonial rule in Goa, Daman, and Diu.
• Goa became part of India on December 19, 1961, after the Portuguese authorities relinquished control.

Freedom Struggle:

• The day honors the struggle of the people of Goa and the Indian Army’s role in ending Portuguese rule.
• Goa participated actively in India’s freedom movement, particularly through Satyagraha.

Cultural Significance:

• Goa’s distinct cultural identity remained intact despite colonial rule.
• The day is a tribute to the region’s contribution to India’s independence.

Celebrations:

Commemoration Events:

• Schools and colleges organize events such as speech competitions, drawing contests, and poster-making.
• Various cultural programs and remembrance of freedom fighters.

Public Celebrations: Enthusiastic celebrations across Goa, marked by pride and honor for the liberation.

History:

• Indian Army’s Role: In 1961, the Indian Army launched Operation Vijay to liberate Goa, Daman, and Diu.
• Post-1947 Struggle: Despite India’s independence in 1947, Goa remained under Portuguese control until 1961.
• Diplomatic Challenges: Years of unsuccessful negotiations between India and Portugal led to the military action required for liberation.

Goa:

• Chief minister: Pramod Sawant
• Capital: Panaji (Executive Branch)
• Governor: P. S. Sreedharan Pillai

Edusprint Youtube Channel : Edusprint Academy

We at Edusprint Academy are committed to bringing you the most relevant and updated 18th 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

Vice President Dhankhar Inaugurates GSI Geoscience Museum in Gwalior

On the occasion of the inauguration of the GSI Geoscience Museum in Gwalior, Vice President Shri Jagdeep Dhankhar, along with several distinguished dignitaries, marked the opening of this state-of-the-art facility. The museum, housed in the historic Victoria Market Building, serves as a hub of knowledge and a tribute to Earth’s geological wonders. The event celebrated the fusion of tradition with modern innovation and showcased the significant contributions of the Geological Survey of India (GSI) in exploring the nation’s geological resources.

Museum Overview

• Dedicated to showcasing Earth’s geological wonders.
• Features interactive exhibits and rare geological specimens.

Exhibit Galleries

Gallery I: Planet Earth – Its Uniqueness in Diversity

• Highlights geological phenomena like volcanoes, meteorites, and magnetic fields.
• Displays: Antarctic rocks, gemstones, volcanic rocks from Japan, dinosaur eggs.
• Includes interactive models, multimedia displays, and digital storyboards.

Gallery II: Evolution of Life on Earth

• Chronicles life’s history, from ancient ecosystems to modern humans.
• Features fossils, immersive exhibits, and sections on evolution and mass extinctions.

Notable Contributions

• First Ticket Issued: By Shri Satish Chandra Dubey.
• Special Recognition: Shri R.V. Karanth honored for donating his gemstone collection.

Future Goals and Impact

• Aims to be a resource for researchers, educators, and geoscience enthusiasts.
• Promotes understanding of Earth’s processes and sustainable development.
• Reflects GSI’s commitment to advancing scientific knowledge and resource management.

Madhya Pradesh:

• Capital: Bhopal (Executive Branch)
• Governor: Mangubhai C. Patel
• CM: Dr. Mohan Yadav

India Becomes the First Country to Launch ‘Taxonomy of Green Steel’ to Promote Sustainable Steel Production

On December, 2024, India took a groundbreaking step in sustainable manufacturing by unveiling the ‘Taxonomy of Green Steel’. The announcement, made by Union Minister H.D. Kumaraswamy from the Ministry of Steel (MoS) and the Ministry of Heavy Industries & Public Enterprises (MoHI&PE), marked India as the first country globally to introduce such a framework, which aims to define and regulate green steel production based on emission intensity.

Key Highlights of the Green Steel Taxonomy

Framework Introduction: The new ‘Taxonomy of Green Steel’ defines green steel in terms of emission intensity, focusing on the reduction of Carbon Dioxide (CO2) emissions during steel production.

Emission Limit: The limit for green steel production is set at 2.2 tonnes of CO2 emissions per tonne of finished steel (tCO2e/tfs). Steel producers will qualify their products as “green steel” if their emissions fall below this threshold.

Star Rating System: The star rating system will define the quality of green steel based on its emission intensity. The upper limit for rating will be reviewed every three years to keep up with technological advancements and industry needs.

Stakeholder Consultations: During the event, the Ministry of Steel also organized consultations with stakeholders to gather suggestions for two critical initiatives:

• National Mission on Green Steel (NMGS): A mission aimed at promoting sustainable practices within India’s steel industry.
• Green Steel Public Procurement Policy (GSPPP): A policy to incentivize the procurement of green steel by government bodies.

Review of Inputs: The suggestions and inputs received from various stakeholders during these consultations will be considered and incorporated into the final drafts of both the NMGS and GSPPP.

Significance of Green Steel for India’s Environmental Goals

• Global Leadership: India’s introduction of a taxonomy for green steel positions it as a global leader in the shift towards eco-friendly industrial practices, particularly in steel production, which is a significant contributor to global CO2 emissions.
• Technological Advancements: The taxonomy will ensure that India’s steel industry keeps pace with advancements in green technologies, allowing for continuous improvement in the environmental performance of steel manufacturing.

About the Ministry of Steel (MoS)

• Union Minister: H.D. Kumaraswamy, representing Mandya, Karnataka, leads the Ministry of Steel (MoS).
• Minister of State (MoS): Bhupathi Raju Srinivas Varma, representing Narasapuram, Andhra Pradesh, is the Minister of State in the Ministry of Steel.

International news

Russia Offers Visa-Free Travel for Indians in 2025

Indians may soon enjoy visa-free travel to Russia as part of a new initiative expected to begin in the spring of 2025. This move follows bilateral discussions between India and Russia in June 2024, aimed at easing visa restrictions and encouraging group tourist exchanges. Currently, Indian nationals require visas to visit Russia, but the upcoming agreement could significantly streamline travel processes, boosting tourism and strengthening bilateral ties.

Key Developments

1. Bilateral Discussions (June 2024)

• India and Russia engaged in talks to ease visa restrictions.
• The discussions focused on enabling smoother travel for citizens of both countries.

2. Current Visa Process for Indians Traveling to Russia

• Visa Requirement: Indian travelers need a visa issued by the Russian Embassy or Consulates.
• E-Visa Option: Introduced in August 2023. E-visas are processed in approximately four days, simplifying travel procedures for Indian citizens.

3. Growing Tourism Numbers

• Indian Visitors to Moscow (2023): Over 60,000 Indian tourists visited Moscow, marking a 26% increase compared to 2022.
• Business Tourism (2024): India ranked third among non-CIS (Commonwealth of Independent States) countries for business tourism. 1,700 e-visas were issued in the first quarter of 2024 alone.

RUSSIA:

• Capital: Moscow
• Currency: Russian Ruble
• Continent: Europe, Asia
• Prime minister: Mikhail Mishustin

Economy news

Wholesale Inflation Eases to 1.9% in November Amid Cooling Food Prices

In November 2024, India’s wholesale inflation moderated to 1.9%, down from 2.4% in October 2024. This marks a notable slowdown in inflation, largely driven by a decrease in food price inflation. However, there are continuing challenges, particularly in the prices of manufactured products. Here’s a detailed breakdown:

Food Price Inflation

Food Inflation Deceleration:

• Food price inflation eased to 8.9% in November, down from 11.6% in October.
• This is a significant improvement, especially after food inflation reached a 25-month high in October.
• The primary drivers of the slowdown in food inflation were vegetables, whose price rise slowed considerably from 63% in October to 28.6% in November.
• However, potato prices continued to rise sharply, with an 82.8% increase in November. This rise in potato prices was a major contributor to the still-high food inflation figures.

Edible Oils and Fats: Prices of edible oils and fats continued to see sharp increases. The rate of increase surged to 28% in November, compared to 20.2% in October, indicating that the supply-demand imbalance in these goods persists.

Pulses, Fruits, Wheat, and Paddy: Inflation in pulses, fruits, wheat, and paddy persisted, though at a slower pace than earlier in the year. The government’s interventions may have provided some relief in these categories, but the overall food price inflation remains elevated due to specific items.

Manufactured Products Inflation

Price Increases in Manufactured Goods: Prices for manufactured products saw an uptick in November, rising by 2%.

Fuel and Power

Decline in Fuel Prices:

• Fuel and power prices remained in deflationary territory, with a 5.83% year-on-year decline.
• Despite global crude price fluctuations, domestic fuel prices remained subdued, contributing to a lower inflation rate in this category.

Banking news

Public Sector Banks Record Net Profit of Rs 85,520 Crore In First Half FY2024-25

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.

SBI:

• Headquarters: Mumbai
• Founded: 1 July 1955
• Key people: Challa Sreenivasulu Setty (Chairman); Kameshwar Rao Kodavanti (CFO);

BharatPe Launches ‘Shield’ Fraud Protection Plan for UPI Transactions

In December 2024, BharatPe, a leading financial technology company for merchant payments, launched a new fraud protection plan named “Shield”. This initiative is designed to safeguard users from fraudulent Unified Payments Interface (UPI) transactions and enhance security during digital transactions.

Key Features of the Shield Plan

Complimentary Fraud Protection:

• BharatPe is offering 30 days of complimentary fraud protection for users making their first UPI transaction on the BharatPe app.
• This complimentary service covers transactions up to Rs. 5,000.

Affordable Subscription After Free Period: After the complimentary period, users can continue using the Shield plan for just Rs. 19 per month.

Comprehensive Coverage:

• The Shield plan covers various risks, including computer fraud, phishing attacks, and unauthorized transactions that may occur due to phone loss.
• It also includes a pre-reporting period, enabling users to file claims for any fraudulent losses incurred up to 10 days prior to reporting the issue.

24/7 Support:  Users can access round-the-clock assistance for reporting fraud and filing claims via the BharatPe app, chatbot, and toll-free helplines.

BharatPe’s Innovative History

• Founded in 2018, BharatPe is renowned for pioneering solutions in the financial sector.
• In 2018, it introduced India’s first UPI-compatible QR code and zero Merchant Discount Rate (MDR) payment service.
• In August 2024, the company rebranded its Postpe app to the BharatPe app and expanded into the consumer payments space by launching its UPI Third-Party Application Provider (TPAP).

Bharatpe:

• CEO: Nalin Negi (3 Jan 2023–)
• Founded: April 2018
• Headquarters: New Delhi

Defence news

INS Nirdeshak: Indian Navy’s New Survey Ship Commissioned

The Indian Navy is set to commission INS Nirdeshak, a new survey ship, on December 18, 2024, at the Naval Dockyard in Visakhapatnam. This event, with Hon’ble Raksha Rajya Mantri Shri Sanjay Seth as the Chief Guest, signifies a major leap in India’s naval capabilities. The vessel, constructed by Garden Reach Shipbuilders & Engineers (GRSE) in Kolkata, 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.

Operational Role and Strategic Importance

Maritime Operations:

• Designed to support sea floor mapping, maritime navigation, and naval operations.
• Strengthens India’s maritime operations and strategic positioning.

Strategic Positioning:

• Enhances India’s presence in the Indian Ocean Region.
• Bolsters international cooperation in marine surveys.
• Technological Evolution and Legacy

Legacy of INS Nirdeshak: The original vessel served for over 30 years, setting a high standard for the new ship.

Technological Advancements: The new vessel incorporates advanced design and technology, reflecting the evolving capabilities of the Indian Navy.

Indian navy:

• Head: Incumbent Admiral Dinesh K Tripathi
• Founded: 26 January 1950

SLINEX 2024: Strengthening Sri Lanka-India Naval Ties

The Sri Lanka-India Naval Exercise (SLINEX) is a significant annual event that fosters maritime cooperation between the two nations. Initiated in 2005, SLINEX has grown in scope and importance over the years, strengthening the bilateral relationship between India and Sri Lanka. The 2024 edition of SLINEX will be held from December 17 to December 20, 2024, at Visakhapatnam under the auspices of the Eastern Naval Command. The exercise will be conducted in two phases: the Harbour Phase and the Sea Phase, focusing on enhancing interoperability, strengthening mutual understanding, and promoting regional maritime security.

Overview

• Purpose: SLINEX is an annual naval exercise aimed at enhancing maritime cooperation between India and Sri Lanka.
• Inception: Initiated in 2005, the exercise has grown in significance, strengthening the bilateral relationship between the two nations.
• Dates: December 17 to December 20, 2024
• Location: Visakhapatnam, under the Eastern Naval Command

Exercise Phases

Harbour Phase (17-18 December 2024)

Focus:

• Professional and social exchanges between the naval forces of India and Sri Lanka.
• Enhancing mutual understanding and building camaraderie among the personnel.

Sea Phase (19-20 December 2024)

Activities:

• Special Forces Operations
• Gun Firings
• Communication Drills
• Seamanship Practices
• Navigation Evolutions
• Helicopter Operations

Participating Units

India

• INS Sumitra: A Naval Offshore Patrol Vessel (NOPV) of the Eastern Fleet.
• Special Forces Team

Sri Lanka

• SLNS Sayura: Offshore Patrol Vessel.
• Embarked Special Forces Team

Significance of SLINEX 2024

• Strengthening Maritime Cooperation: SLINEX 2024 aims to bolster the strong maritime relationship between India and Sri Lanka.
• Enhancing Interoperability: The exercise allows both navies to improve their operational interoperability, share best practices, and enhance coordination between forces.
• Regional Maritime Security: SLINEX contributes to promoting a safe, secure, and rules-based maritime environment in the Indian Ocean Region, addressing emerging security challenges.

Sri lankha:

• Capitals: Colombo, Sri Jayawardenepura Kotte
• Currency: Sri Lankan Rupee
• President: Anura Kumara Dissanayake
• Prime minister: Harini Amarasuriya

Award news

UNESCO Announces Winners of 2024 Asia-Pacific Heritage Awards

On December , 2024, the United Nations Educational, Scientific and Cultural Organisation (UNESCO) announced the winners of the 2024 UNESCO Asia-Pacific Awards for Cultural Heritage Conservation, also known as the Heritage Awards, at its regional office in Bangkok, Thailand.

This prestigious recognition honors outstanding projects that contribute to the preservation and conservation of cultural heritage in the Asia-Pacific region. This year, a total of 8 projects from 5 different countries received the awards. The countries honored include India (2 projects), Thailand (1), China (3), New Zealand (1), and Japan (1).

Key Highlights of the Awards:

Award of Excellence (Highest Honor): The Inari-yu Bathhouse Restoration Project in Tokyo, Japan won the Award of Excellence, the highest honor of the UNESCO heritage awards.

India’s Honored Projects:

• Abathsahayeshwarar Temple in Tamil Nadu was honored with the “Award of Distinction” for its exceptional conservation efforts.
• The Sir Byramjee Jeejeebhoy Parsee Charitable Institution (BJPCI) Conservation Project in Maharashtra received the “Award of Merit” for its outstanding heritage preservation.

About UNESCO:

• Director-General (DG): Audrey Azoulay
• Headquarters: Paris, France
• Member Nations: 194
• Established: 1945

Air India Receives Prestigious Global Awards for Service Excellence and Innovation

In December 2024, Air India Limited, India’s leading airline based in New Delhi, received two prestigious global accolades, emphasizing its ongoing transformation and commitment to service excellence.

Good Design Award Australia 2024:

Air India’s Vista Verve in-flight product was awarded the Good Design Award Australia 2024. This prestigious award recognizes the innovation and design excellence of Vista Verve, which includes exclusive tableware, Slovakian lead-free glassware, and luxurious linens with premium mattress toppers. These elements underscore the airline’s commitment to luxury, sustainability, and comfort for passengers.

The Vista Verve product is being gradually introduced across the airline’s network, with its availability on key international routes, including to the United Kingdom (UK) (London Heathrow, Gatwick, Birmingham) and select United States of America (USA) routes (New York, Newark, and Washington).

APEX Awards at the Future Travel Experience (FTE) Awards:

Air India also won three APEX Awards at the Future Travel Experience (FTE) Awards in Singapore, highlighting its leadership in providing an exceptional global passenger experience.

About Air India Limited:

• Chairman: Natarajan Chandrasekaran
• Headquarters: New Delhi, Delhi
• Founded: 1932

Agreement news

Gati Shakti Vishwavidyalaya, Navy Sign MoU for Logistics Education

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, aimed at improving logistics capabilities and aligning with national initiatives like the PM Gati Shakti National Master Plan and National Logistics Policy.

Key Points of the MoU

MoU Signing

Signatories:

• Vice Admiral Deepak Kapoor, Controller of Logistics, Indian Navy
• Manoj Choudhary, Vice Chancellor, Gati Shakti Vishwavidyalaya (GSV)

Objectives of the Collaboration Strengthen the Indian Navy’s logistics framework.

Focus on key areas:

• Supply Chain Management
• Multimodal Transportation
• Sustainability in Logistics
• Alignment with National Initiatives

Supports the PM Gati Shakti National Master Plan 2021 and the National Logistics Policy 2022 aimed at improving national logistics efficiency.

Technological Integration:

Exchange of expertise in emerging technologies, including:

• AI Applications
• Predictive Analytics
• Blockchain Technology for logistics optimization
• Educational Opportunities for Navy Officers

Indian Navy officers will have the opportunity to pursue academic degrees and management programs at GSV, with a focus on logistics and management.

Partnership with Other Defence Services: GSV already has partnerships with the Indian Army and Indian Air Force, broadening its educational support to all three services.

Sports news

India Clinches Women’s Junior Asia Cup Title

The Indian women’s junior hockey team successfully defended their title at the Women’s Junior Asia Cup, defeating China 3-2 in a thrilling penalty shoot-out after a 1-1 draw in regulation time. This victory marks India’s second consecutive win at the tournament, having also won the 2023 edition. The victory in Muscat, Oman, secured India’s qualification for the 2025 FIH Women’s Junior Hockey World Cup in Chile.

Tournament Results

Semi-Finals:

• India defeated Japan 3-1.
• China triumphed over South Korea 4-1.

Top Five Finishers:

• India (Champions)
• China (Runners-up)
• Japan (Third place)
• South Korea (Fourth place)

Malaysia (Fifth place, defeating Thailand to secure qualification)

Historic Achievement for India

India’s victory in the 2024 Women’s Junior Asia Cup is part of a historic double success for Indian hockey in Muscat. The Indian men’s junior team had also won the 2024 Men’s Junior Asia Cup, marking a landmark achievement for Indian junior hockey in both the men’s and women’s categories.

About the Women’s Junior Asia Cup

• Organizing Body: The tournament is organized by the Asian Hockey Federation (AHF).
• Player Age Group: The competition is open to players under 21 years.
• Purpose: The Women’s Junior Asia Cup serves as a qualification tournament for the FIH Women’s Junior Hockey World Cup.
• First Edition: The tournament was first held in 1992 in Kuala Lumpur, Malaysia.
• Most Successful Team: South Korea holds the record for the most titles, with four wins.
• India’s Titles: India has now won two titles at the Women’s Junior Asia Cup, in the 2023 and 2024 editions

Science and tech news

Snakebite Cases Declared as a “Notifiable Disease” in India

In November 2024, the Ministry of Health and Family Welfare (MOHFW) declared snakebite cases as a “Notifiable Disease” in India, mandating that all government and public health facilities report snakebite cases and deaths. This move is part of the broader National Action Plan for Prevention and Control of Snakebite Envenoming (NAPSE), launched earlier in March 2024. The initiative aims to reduce snakebite fatalities by 50% by 2030 and strengthen the country’s ability to monitor and respond to such incidents.

What is a Notifiable Disease?

• A notifiable disease is any disease that must be reported to public health authorities by law. Reporting these cases allows health officials to monitor the disease’s spread, track outbreaks, and implement timely actions to prevent and control it.
• In India, several diseases are classified as notifiable, including Leprosy, Tuberculosis (TB), AIDS, Cholera, and Hepatitis, among others.

Reason for Declaring Snakebite as a “Notifiable Disease”

Life-threatening Nature: Snakebites are life-threatening and can result in severe consequences, including death, long-term health complications, and permanent disability in some cases.

• Need for Effective Surveillance: By making snakebites notifiable, India aims to establish a robust surveillance system to monitor snakebite cases accurately. This will allow health authorities to identify high-risk areas, track snakebite fatalities, and pinpoint the contributing factors behind these deaths.
• Improved Clinical Management: An accurate and timely reporting system will help in better clinical management of snakebites, ensuring that resources and treatments are directed where they are most needed.

About the Ministry of Health and Family Welfare (MOHFW)

• Union Minister: Jagat Prakash Nadda, Rajya Sabha MP from Gujarat, serves as the Union Minister for Health and Family Welfare.
• Minister of State (MOS): Prataprao Ganpatrao Jadhav, representing Buldhana, Maharashtra, is the Minister of State in the Ministry of Health and Family Welfare.

ISRO Successfully Tests CE20 Cryogenic Engine

On December 12, 2024, the Indian Space Research Organisation (ISRO) successfully completed a crucial milestone with the sea-level hot test of its CE20 cryogenic engine at the ISRO Propulsion Complex in Mahendragiri, Tamil Nadu. This test, conducted on November 29, 2024, marks a significant achievement in the development of cryogenic technology for India’s future space missions, particularly those requiring higher payloads and advanced propulsion systems.

Challenges and Innovations in Testing

Cryogenic engine testing at sea level poses several challenges, mainly due to the engine’s high area ratio nozzle, which has an exit pressure of around 50 mbar. The key challenges involved:

• Flow Separation: At sea level, cryogenic engines tend to experience flow separation at the nozzle exit, which could result in severe vibrations and potentially cause mechanical damage to the engine. This phenomenon occurs because the engine’s nozzle design is optimized for operation in space, where the pressure is much lower.
• Mitigation Through Innovations: To address these challenges, ISRO developed an innovative Nozzle Protection System, which successfully mitigated the risks associated with flow separation. The system ensured that the engine could function without excessive vibrations or damage, simplifying the test procedure.
• Multi-Element Igniter: Another key achievement was the successful demonstration of the multi-element igniter. This system is crucial for the engine’s ability to restart in space, making it a vital component for long-duration missions where multiple burns are required.

ISRO:

• Founded: 15 August 1969
• Headquarters: Bengaluru
• Head: Sreedhara Panicker Somanath

Manastu Space Technologies Delivers iBooster Green Propulsion System to DRDO

In December 2024, Manastu Space Technologies Private Limited, a deep-technology startup based in Mumbai, Maharashtra, successfully delivered the iBooster Green Propulsion System to the Defence Research and Development Organisation (DRDO). This marks a significant milestone following four years of extensive research and development, supported by DRDO’s Technology Development Fund (TDF).

Key Features of the iBooster Green Propulsion System:

Target Satellite Range: Designed for satellites weighing between 100 to 500 kilograms (kg).

Critical Operations:

Plays a vital role in essential satellite functions, including:

• Orbit raising
• Station-keeping
• Deorbiting

Eco-friendly Propellant: The system is powered by a proprietary hydrogen peroxide (H2O2)-based fuel, offering a safer, more eco-friendly alternative to traditional toxic fuels. Additionally, it is more cost-effective compared to other high-priced alternatives.

About Manastu Space Technologies:

• Chief Executive Officer (CEO): Tushar Jadhav
• Headquarters: Mumbai, Maharashtra
• Established: 2017

DRDO:

• Date founded: 1958
• Headquarters: DRDO Bhavan, New Delhi, India
• Agency executive: : Sameer V. Kamat, Chairman, DRDO;

Books and author

Union Minister Gajendra Singh Shekhawat Launches “New Bharat – Modi’s Vision and Development 2019-2024”

On December, 2024, Union Minister of Culture and Tourism, Gajendra Singh Shekhawat, launched the book titled “New Bharat – Modi’s Vision and Development 2019-2024” at the Constitution Club in New Delhi. The event was attended by Navneet Sehgal, Chairman of Prasar Bharati, and other distinguished dignitaries.

Key Details:

• Author: Ravi Prashar
• Publisher: Hindustan Times
• Focus: The book highlights the developmental initiatives and schemes undertaken during the leadership of Prime Minister Narendra Modi from 2019 to 2024, showcasing his vision for India’s growth and progress.

Minister Shekhawat’s Remarks:

Union Minister Shekhawat emphasized that the book reflects the nation’s development journey and illustrates the transformation of India’s global perception under PM Modi’s leadership. The launch event highlighted the significant strides India has made in various sectors over the past five years.

Important days

Pensioners Day in India: Honouring D.S. Nakara’s Fight for Pension Rights

Pensioners Day is observed annually on 17th December in India to honor D.S. Nakara, a retired government official who became the face of the fight for the rights and dignity of pensioners. This day commemorates the 1982 Supreme Court judgment, which ensured equality and justice for pensioners, guaranteeing them the same pension benefits, irrespective of their retirement date.

History of Pensioners Day: The origins of Pensioners Day can be traced back to a landmark legal battle in 1982, led by D.S. Nakara, who had retired from the Department of Defense. Here’s a detailed look at the history:

• The Discriminatory Pension System: In 1979, a liberalized pension system was introduced, but it only benefited those officials who retired after March 31, 1979. This created a discriminatory situation, where pensioners who retired before this date were denied the enhanced pension benefits, despite having served the nation for decades.
• D.S. Nakara’s Legal Challenge: D.S. Nakara, who retired before the cutoff date, was denied the pension benefits under this new system. He challenged this discriminatory policy in court, arguing that it violated the constitutional principle of equality guaranteed under Article 14 of the Indian Constitution.
• The Supreme Court Ruling: In a historic judgment in 1982, the Supreme Court of India ruled in favor of D.S. Nakara. The Court declared that the discriminatory pension policy was unconstitutional. The judgment emphasized that pension is a right and not a mere bounty, and it should be available equally to all eligible retired employees, regardless of their retirement date.
• This decision effectively ensured that pension benefits would be provided equally to all eligible individuals, giving pensioners a sense of dignity and economic security.
• The Magna Carta of Pensioners: The Supreme Court’s judgment was celebrated as the “Magna Carta of Pensioners,” as it upheld the principles of justice and equality for pensioners, guaranteeing them economic security in their post-retirement life.

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National news

VIRAASAT Sari Festival 2024: Celebrating India’s Handwoven Heritage

The Ministry of Textiles, Government of India, is set to host the third edition of the “Viraasat Sari Festival 2024” from 15th to 28th December 2024 at Handloom Haat, Janpath, New Delhi. Building on the overwhelming success of its previous editions, which garnered an impressive footfall of 20,000 across all age groups, this year’s event promises to be an extraordinary celebration of India’s handloom heritage, focusing on the diverse traditions of sari weaving. By uniting handloom weavers, designers, sari enthusiasts, and buyers, the festival seeks to highlight the cultural and economic importance of the handloom sector, while providing artisans with a platform to showcase and retail their creations.

Objective:

To celebrate India’s handloom heritage, promote regional sari weaving traditions, and provide artisans a platform to showcase and retail their creations.

Significance of Handloom Sector

• Cultural Heritage: Represents India’s regional identity with saris like Paithani, Banarasi, Kancheepuram, and Pashmina.
• Economic Importance: Employs over 35 lakh people, primarily women, and aligns with sustainable development goals (zero defect, zero environmental impact).
• Government Initiatives: Promoting eco-friendly handloom products, ensuring authenticity, and supporting artisans’ livelihoods.

The Ministry of Textiles: Minister: Shri Giriraj Singh

Uttarakhand Unveils India’s First Yoga Policy to Become Global Yoga Hub

Uttarakhand, famously known as “Devbhoomi,” is set to become the first Indian state to implement a dedicated Yoga Policy, aimed at transforming the state into a global yoga destination. With Rishikesh already recognized as the “Yoga Capital of the World,” this initiative builds on the state’s rich cultural and spiritual legacy while aligning with the AYUSH policy’s success. The policy, envisioned by Chief Minister Pushkar Singh Dhami, integrates yoga, Ayurveda, and wellness into a comprehensive development strategy for tourism, health, and employment.

Key Features of the Yoga Policy

Planned Development:

• Promote wellness tourism and yoga institutions.
• Standardize yoga centers and incentivize new setups.

Infrastructure Focus:

• Registration of yoga centers and subsidies for development.
• Uniform course standards certified by the Yoga Certification Board.

Employment Generation: Creation of 50 new yoga and wellness centers and Yoga Grams to generate jobs for local youth.

Uttarakhand:

• Capitals: Dehradun (Winter), Bhararisen (Summer)
• Founded: 9 November 2000
• Chief minister: Pushkar Singh Dhami
• Governor: Gurmit Singh

International news

WHO’s World Malaria Report 2024: Key Highlights and India’s Progress

In December 2024, the World Health Organization (WHO) released the “World Malaria Report 2024: Addressing inequity in the global malaria response”. The report highlights a concerning rise in global malaria cases while summarizing efforts to control and eliminate malaria across 83 countries worldwide.

Malaria Deaths:

The majority of malaria deaths in 2023 occurred in 4 countries:

• Nigeria: 30.9%
• Democratic Republic of the Congo: 11.3%
• Niger: 5.9%
• Tanzania: 4.3%

Malaria-Free Countries:

• As of November 2024, 44 countries and 1 territory (Cabo Verde) have been certified malaria-free by WHO.
• Several other countries are on track to achieve this status.

India’s Notable Progress

India has shown significant development in combating malaria:

• Exiting the HBHI Group: In 2024, India exited the High Burden to High Impact (HBHI) group due to impressive progress.
• Reduction in Malaria Cases: Between 2017 and 2023, malaria cases in India reduced by 69%, from 6.4 million to 2 million.
• Reduction in Malaria Deaths: Malaria deaths decreased by 68%, from 11,100 in 2017 to 3,500 in 2023.

World health organization:

• Headquarters: Geneva, Switzerland
• Founded: 7 April 1948
• Director-General: Tedros Adhanom Ghebreyesus

Banking news

Edelweiss Mutual Fund Launches India’s 1st ETF for Capital Markets and Insurance Sectors

In December 2024, Edelweiss Mutual Fund, a leading asset management company, launched India’s first Exchange Traded Fund (ETF) dedicated to the capital markets and insurance sectors.

Key Highlights

New Fund Offer (NFO):

• Opened for subscription on December 10, 2024.
• Minimum subscription amount: Rs. 5,000.
• Investments post-NFO can be made in multiples of Re. 1.
• NFO closes on December 24, 2024.
• The ETF will reopen for continuous sale and repurchase on January 8, 2025.

Objective: The ETF aims to replicate and track the BSE Capital Markets & Insurance Total Return Index (TRI), which includes top companies in:

• Broking
• Life Insurance
• General Insurance
• Financial Product Distribution

Award news

Aryna Sabalenka Wins 2024 WTA Player of the Year Award

On December 2024, Aryna Sabalenka, the world No. 1 singles player from Belarus, was honored with the 2024 Women’s Tennis Association (WTA) Player of the Year Award. This marks her 1st career win of the prestigious award. Sabalenka has achieved 23 career titles:

• 17 titles in singles
• 6 titles in doubles

2024 WTA Awards Winners

The Women’s Tennis Association (WTA) announced winners across 5 Player Awards and 3 Player Service Awards.

Category	Winner
Player of the Year	Aryna Sabalenka (Belarus)
Doubles Team of the Year	Jasmine Paolini & Sara Errani (Italy)
Most Improved Player of the Year	Emma Navarro (USA)
Newcomer of the Year	Lulu Sun (New Zealand)
Comeback Player of the Year	Paula Badosa (Spain)

About Women’s Tennis Association (WTA)

• Chairman & CEO: Portia Archer
• Headquarters: Florida, United States of America (USA)
• Established: 1973

Appointment news

Mikheil Kavelashvili Becomes Georgia’s New President

Mikheil Kavelashvili, the 53-year-old former footballer, was elected president of Georgia on December 16, 2024, marking a significant shift in the nation’s political landscape. His victory comes amid growing concerns over Georgia’s alignment with Russia, following constitutional changes that replaced direct presidential elections with a 300-seat electoral college. Kavelashvili’s candidacy, strongly backed by the Georgian Dream party, reflects the ruling party’s increasing authoritarian tendencies, as critics warn that this election may undermine Georgia’s European Union aspirations.

Georgia:

• Capital: Tbilisi
• Official language: Georgian
• Continent: Europe, Asia
• President: Salome Zourabichvili

State news

Nupi Lal Numit 2024: Honoring the Legacy of Manipuri Women

Manipur recently commemorated Nupi Lal Numit 2024, a significant event honoring the courage and resilience of the women who fought for justice and freedom in the Nupi Lal uprisings of 1904 and 1939. The commemoration was led by Chief Minister N. Biren Singh at the Nupi Lal Memorial Complex. This day not only highlights the pivotal role of Manipuri women in history but also celebrates their continued progress in various sectors. The Chief Minister’s speech emphasized the importance of empowering women through various initiatives, while calls for peace and unity across the state resonated strongly.

Historical Significance: The Nupi Lal uprisings saw Manipuri women leading protests against British colonial injustices, driving political and social change.

Government Efforts: The Chief Minister emphasized addressing ongoing crises through State-Central collaboration and resolving critical issues, including locating missing persons.

Manipur:

• Capital: Imphal (Executive Branch)
• Chief minister: N. Biren Singh
• Governor: Lakshman Acharya

Rising Rajasthan Global Investment Summit 2024: Key Highlights and Developments

The Rising Rajasthan Global Investment Summit 2024 (RRGIS 2024) was inaugurated by Prime Minister Narendra Modi on 9th December 2024 at the Jaipur Exhibition and Convention Centre (JECC) in Rajasthan.

• Duration: 3 Days (9th December to 11th December 2024)
• Theme: “Replete, Responsible, Ready”

Investment Agreements:

• The Rajasthan Government signed Memorandums of Understanding (MoUs) worth over ₹35 lakh crores during the summit.
• The agreements aim to boost industrial and infrastructural growth in the state.

Renewable Energy Initiatives:

• The Ministry of New and Renewable Energy (MNRE) approved the development of a 2 GW (2000 MW) Solar Park project under the Rajasthan Solar Development Corporation.
• Tata Power announced a massive investment of ₹1.2 lakh crore in renewable energy projects across Rajasthan, including solar and wind power initiatives.

About Rajasthan

• Chief Minister: Bhajan Lal Sharma (Constituency – Sanganer)
• Governor: Haribhau Bagade
• Capital: Jaipur

National Parks in Rajasthan

• Mukundra Hills National Park
• Ranthambore National Park
• Sariska National Park

Uttar Pradesh: First State to Fully Adopt GeM Platform

Uttar Pradesh (UP) became the first Indian state to fully adopt the Government e-Marketplace (GeM) platform in December 2024.

• Objective: Enhance transparency and eliminate unethical practices in public procurement.
• Savings: The state government is expected to save over ₹2,000 crore annually through GeM-based procurement of goods and services.

Key Highlights

Enforcement of Guidelines:

• GeM integration ensures strict adherence to procurement rules.
• Promotes efficiency and transparency in public procurement processes.

Prohibited Practices:

• Price discovery bids and offline contracts.
• Quantity-based bids.
• Request for samples during bid evaluations.
• This initiative positions Uttar Pradesh as a leader in adopting digital governance for public procurement.

GeM portal:

• Government e-Marketplace (GeM) Platform
• Launch Date: August 9, 2016
• Launched by: Ministry of Commerce and Industry, Government of India

Managed by: GeM SPV (Special Purpose Vehicle), under the Department of Commerce

Purpose of GeM

The Government e-Marketplace (GeM) is an online platform launched to facilitate transparent, efficient, and cost-effective procurement of goods and services by government departments, ministries, and public sector undertakings (PSUs).

Uttar Pradesh:

• Capital: Lucknow (Executive Branch)
• Chief minister: Yogi Adityanath
• Governor: Anandiben Patel

Punjab Becomes First State to Enact ‘Punjab State (Development and Promotion of Sports) Act 2024’

On December , 2024, Punjab Chief Minister Bhagwant Singh Mann approved the enactment of the Punjab State (Development and Promotion of Sports) Act 2024, making Punjab the 1st state in India to focus on enhancing sports infrastructure and ensuring transparency in player selection.

Key Highlights of the Act

Objectives:

• Promote the growth of sports across all levels.
• Ensure fair player selection at district, state, and national levels.
• Foster transparency within sports associations.

Adoption of Best Practices: The Act aligns with National and International best practices to develop sports infrastructure and administration within the state.

Financial Transparency:

• Accounts must be maintained by a Chartered Accountant.
• An annual income and expenditure statement must be published by May 31 each year.

National Sports Policy (NSP) 2024

• Formulated by: Department of Sports, Ministry of Youth Affairs and Sports (MYAS), New Delhi.
• Objective: Promote sports excellence and development in India.

Key Focus:

• Build on the existing 2001 policy to enhance global sports achievements.
• Foster economic growth and social progress through sports.
• Align with the Government of India’s “Viksit Bharat” vision for nation-building.

Key Initiatives under NSP 2024:

• Khelo India Scheme: Grassroots sports promotion.
• Target Olympic Podium Scheme (TOPS): Support for elite athletes.
• National Sports Governance Bill 2024: Ensures transparency and accountability in National Sports Federations (NSFs).

About National Sports Governance Bill 2024

• Aims to address longstanding issues of factionalism and mismanagement in NSFs.
• Provides solutions to restore transparency and accountability in sports bodies.

About Punjab

• Capital: Chandigarh
• Chief Minister (CM): Bhagwant Singh Mann
• Governor: Banwarilal Purohit

Defence news

Desert Knight: A Strategic Trilateral Air Combat Exercise

India, France, and the UAE have initiated the trilateral air combat exercise “Desert Knight” over the Arabian Sea. This operation aims to strengthen defence cooperation, enhance interoperability among their air forces, and prepare for complex combat scenarios. Conducted in a strategically important region, the exercise underscores growing trilateral ties amid evolving global security challenges and geopolitical tensions.

Key Objectives and Purpose

• Trilateral Defence Cooperation: Strengthen strategic military ties between India, France, and the UAE.
• Air Force Interoperability: Enhance the ability of the air forces to work together during complex combat situations, ensuring effective collaboration in joint operations.
• Realistic Combat Scenarios: Provide a platform for the three countries to engage in intensive operations, simulating real-world challenges to improve skills and operational readiness.

Participants and Assets

India:

Aircraft:

• Sukhoi-30MKI: Multi-role combat aircraft.
• Jaguars: Deep penetration strike aircraft.
• IL-78: Mid-air refuellers.
• AEW&C (Airborne Early Warning and Control) systems for surveillance and operational support.
• Base: Jamnagar, India (West Coast).

France:

• Aircraft: Rafale jets, known for their multi-role capabilities.
• Base: Al Dhafra airbase, UAE.

UAE:

• Aircraft: F-16 fighter jets.
• Base: Al Dhafra airbase, UAE.

Award news

President Droupadi Murmu Confers National Panchayat Awards 2024

On December , 2024, the Hon’ble President of India, Droupadi Murmu, conferred the National Panchayat Awards 2024 upon 45 awardees, including 42 Panchayats and 3 Capacity Building Institutes, for their outstanding contributions to sustainable and inclusive development.

• Organized by: Ministry of Panchayati Raj (MoPR)
• Venue: Vigyan Bhawan, New Delhi

Key Highlights

Participation:

• A total of 1.94 lakh Gram Panchayats (GPs) participated in the competition.
• 42% of the 42 award-winning Panchayats are led by women, showcasing their leadership in rural governance.

Evaluation Process:

• Panchayats were assessed on their performance across 9 Localisation Sustainable Development Goals (LSDG) themes.
• Evaluations were conducted by committees at the Block, State, and National levels to ensure fairness and transparency.

Prize Money:

• Rs 46 crore was awarded to 45 winners.
• The prize money was directly transferred to the respective bank accounts of the winners.

About Ministry of Panchayati Raj (MoPR)

• Union Minister: Rajiv Ranjan Singh alias Lalan Singh (Constituency: Munger, Bihar)
• Minister of State (MoS): S.P. Singh Baghel (Constituency: Agra, Uttar Pradesh)
• This initiative highlights the importance of local governance and the role of Panchayats in achieving sustainable rural development across India.

Sports news

Mumbai Clinches Syed Mushtaq Ali Trophy 2024

Mumbai clinched the Syed Mushtaq Ali Trophy (SMAT) 2024 by defeating Madhya Pradesh by five wickets in a high-pressure final. Mumbai’s batting depth and resilience proved crucial in chasing a competitive target of 175 in just 17.5 overs. Despite a valiant unbeaten knock of 81 runs by MP skipper Rajat Patidar, Mumbai showcased dominance in the T20 format to secure their second SMAT title after 2022.

Match Summary

Madhya Pradesh Innings: 174/8 in 20 overs

• Key Performer: Rajat Patidar remained unbeaten at 81 off 54 balls (5 fours, 3 sixes).
• Other batters failed to capitalize, leading to a below-par total.

Mumbai Innings: 180/5 in 17.5 overs

• Suryakumar Yadav: 48 runs off 35 balls (4 fours, 3 sixes).
• Ajinkya Rahane: 37 runs off 30 balls.
• Suryansh Shedge: Match-winning 36* off 15 balls (3 fours, 3 sixes).
• Atharva Ankolekar: 16* off 6 balls, finishing in style.

Syed Mushtaq Ali Trophy

• Founded: 2006-07
• Type of Tournament: Domestic T20 Cricket Tournament
• Organized by: Board of Control for Cricket in India (BCCI)

Key Features

Format:

• The Syed Mushtaq Ali Trophy is a Twenty20 (T20) format cricket competition.
• It is contested by state teams from across India.

Inception: The tournament was introduced as the national T20 championship for domestic cricket in India. It replaced the earlier Ranjit Singh Trophy and was named after Syed Mushtaq Ali, a famous cricketer from India.

Structure:

• The tournament is played in a league format followed by knockout rounds.
• State teams are divided into groups, and they compete in round-robin matches to qualify for the final stage.

Science and tech news

India Launches First Diabetes Biobank in Chennai

India’s first diabetes biobank has been established in Chennai, a collaboration between the Indian Council of Medical Research (ICMR) and the Madras Diabetes Research Foundation (MDRF). This biobank, a crucial step in advancing scientific research, will collect, process, store, and distribute biological samples to study diabetes, its causes, variations, and related disorders, contributing to global health research.

Purpose and Importance

• Collects, processes, stores, and distributes biological samples to study diabetes and related disorders.
• Aims to identify novel biomarkers for early diagnosis and develop personalized treatment strategies.
• Focuses on unique diabetes patterns in India.

Key Studies Stored

ICMR-INDIAB Study:

• Covered 1.2 lakh individuals across 31 states/UTs.
• Revealed India’s diabetes epidemic affecting 10 crore people.

Registry of Young-Onset Diabetes:

• Tracks diabetes cases diagnosed at a young age.
• Enrolled 5,500+ participants.
• Highlights prevalence of Type 1 and Type 2 diabetes in youth.

Long-term Potential

• Supports longitudinal studies to track diabetes progression.
• Enhances India’s contribution to global diabetes research.
• Develops cost-effective, disease-specific biobanks using advanced storage and data-sharing technologies.

Indian council of Medical Research:

• Founded: 1911
• Headquarters: New Delhi
• Head: Dr. Rajiv Bahl

Edusprint Youtube Channel : Edusprint Academy

We at Edusprint Academy are committed to bringing you the most relevant and updated 15th and 16th 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

Govt Unveils ‘Jalvahak’ to boost Inland Waterways, Cargo Movement incentivised on three national waterways

Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, launched the ‘Jalvahak’ Cargo Promotion Scheme aimed at boosting cargo movement on National Waterways 1, 2, and 16, covering the Ganga, Brahmaputra, and Barak rivers.

Provides direct incentives for cargo owners transporting goods via inland waterways for distances exceeding 300 km.

Inauguration Highlights:

The minister flagged off three cargo ships with two dumb barges from the GR Jetty in Kolkata, marking the start of fixed scheduled services for cargo vessels from Haldia on NW1 and NW2.

Key Benefits:

• Promotes economical, eco-friendly, and efficient transportation via waterways.
• Aims to decongest railways and roadways, reducing logistical costs.
• Enhances the use of India’s inland waterways for long-haul cargo movement.

India’s Inland Waterways Network:

India has a navigable inland waterway network of 20,236 km, comprising:

• Rivers: 17,980 km
• Canals: 2,256 km

These waterways are suitable for mechanised crafts, offering a sustainable alternative to traditional cargo transport.

Additional Points:

• Economic Viability: Inland waterways are up to 60% cheaper than road transport and 30% cheaper than railways for freight movement.
• Environmental Impact: Produces significantly lower carbon emissions compared to other modes of transport.
• Strategic Implications: Strengthens trade routes across eastern India, connecting to ports like Haldia and promoting regional trade growth.
• Future Scope: The scheme aligns with India’s commitment to sustainable infrastructure under the Gati Shakti initiative.

This initiative underscores the government’s vision to realise the untapped potential of India’s inland waterways for a sustainable and competitive logistics ecosystem.

Note: Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal

NHAI to strengthen its Highway Patrol Services with ‘Rajmarg Saathi’

• The National Highways Authority of India (NHAI) has introduced ‘Rajmarg Saathi’ Route Patrolling Vehicles to enhance road safety and ensure effective highway patrolling.
• These vehicles are equipped with advanced communication tools and AI-powered video analytics.

Key Features of Rajmarg Saathi:

Advanced AI Video Analytics:

• Onboard cameras equipped with AI can detect and capture cracks, potholes, and damages on the highway.
• Capable of identifying vehicles, pedestrians, road signs, and other infrastructure assets for proactive maintenance.

Enhanced Road Safety:

• Designed to minimize traffic disruptions and improve safety measures on highways.
• Real-time data collection enables quicker identification and resolution of potential hazards.

Communication Tools: Advanced communication systems ensure efficient coordination with relevant authorities for incident management and road maintenance.

Additional Benefits:

• Proactive Maintenance: Facilitates a data-driven approach to maintaining highways, reducing accidents caused by road defects.
• Traffic Management: Improves traffic flow by addressing disruptions promptly.
• Infrastructure Monitoring: Ensures better upkeep of highway assets like signage and lighting.

Future Scope:

• Aligns with NHAI’s vision of leveraging technology under the ‘Digital India’ initiative to improve infrastructure quality.
• Supports India’s goal of creating safer and more efficient highways under programs like Bharatmala Pariyojana.

NHAI:

• Founded: 1988
• Chairman: Sh.Santosh Kumar Yadav

BEML Secures Rs 136 Crore Contract for High Mobility Vehicles (HMVs)

On December 11, 2024, BEML Limited (formerly Bharat Earth Movers Limited), a Public Sector Undertaking (PSU) under the Ministry of Defence (MoD), secured a Rs 136 crore contract to supply indigenously designed High Mobility Vehicles (HMVs) 8×8. These vehicles are part of India’s efforts to enhance its defence capabilities and strategic infrastructure.

• Purpose: The HMVs will be deployed under the Battlefield Surveillance System (BFSS) project, designed to strengthen India’s defence infrastructure.
• Alignment with Atmanirbhar Bharat: This initiative supports India’s vision of self-reliance in defence technology through the development of indigenous defence solutions.

Key Features of the HMV 8×8:

Manufacturing: The HMVs will primarily be produced at BEML’s Palakkad plant in Kerala, with additional production at other facilities depending on operational needs.

Design and Performance: Independent suspension system, high-power air-cooled engine, central tyre inflation system, antilock braking system, and a backbone tube chassis.

Designed to operate in extreme climates from -20°C to +55°C and at altitudes up to 5,000 meters above sea level.

Modular Architecture: The modular design facilitates easy integration of various superstructures, reducing costs and enhancing the commonality across BEML’s range of military vehicles (from 4×4 to 12×12 configurations).

Operational Efficiency: The vehicles are engineered to improve the operational capacity of the BFSS project.

BEML Limited Overview:

• Established: 1964
• Headquarters: Bengaluru, Karnataka
• Chairman & Managing Director (CMD): Shantanu Roy
• Government Stake: As of September 30, 2024, the Government of India holds 54.03% of BEML’s shares.

India’s First Integrated Waste Management City and Learning Centre to be Set Up in Suthni Village, Gorakhpur, Uttar Pradesh

India’s first Integrated Waste Management City and Learning Centre is set to be established in Suthni village, Gorakhpur, Uttar Pradesh (UP) by September 2025. This pioneering initiative aims to promote innovative and sustainable waste management solutions.

A Memorandum of Understanding (MoU) was signed with National Thermal Power Corporation (NTPC) with an investment of Rs 300 crore in the project.

Key Highlights of the Project:

Location and Size: The project will cover 40 acres of land in Suthni village, with the goal of making the city garbage-free through sustainable waste management practices.

Waste Management Model: The project will employ a circular economy model, focusing on processing a variety of waste types, including:

• Biomedical waste
• Electronic waste (e-waste)
• Plastic waste

Tyres

Organic waste

By-Products: The initiative will produce valuable by-products such as charcoal and Bio-Compressed Natural Gas (Bio-CNG), contributing to both environmental sustainability and energy generation.

Project Components:

The project will feature three dedicated plants to handle the diverse waste streams, ensuring efficient processing and conversion of waste into useful resources.

Uttarpradesh:

• Capital: Lucknow (Executive Branch)
• Chief minister: Yogi Adityanath
• Governor: Anandiben Patel

International news

Switzerland Suspends ‘Most Favoured Nation’ Status to India

In a significant move, Switzerland has decided to suspend the application of the ‘Most Favoured Nation’ (MFN) clause in its tax treaty with India, a decision that could raise taxes on Indian companies operating in Switzerland. This decision follows a 2023 Indian Supreme Court ruling that altered the interpretation of the MFN clause, reversing a Delhi High Court decision favoring Nestlé. As a result, Switzerland will impose a 10% withholding tax on dividends paid to Indian companies starting January 1, 2025, instead of the previous 5%.

• Background: The MFN clause previously offered reduced tax rates (5%) on dividends, aligned with tax concessions given to other countries like Colombia and Lithuania. However, the Indian Supreme Court’s 2023 ruling in the Nestlé case altered the interpretation of the MFN clause, leading to Switzerland’s decision.
• Swiss Response: Swiss authorities cited the ruling, which held that the MFN clause does not automatically apply when new countries join the OECD without India’s explicit notification.
• Implications: Indian companies operating in Switzerland could face higher tax burdens on dividend income, especially for overseas direct investment (ODI). However, Swiss investments in India remain unaffected as tax rates in India for Swiss companies stay at 10%.

Switzerland:

• Official languages: Romansh, German, French, Italian
• Currency: Swiss Franc
• Prime minister: Viola Amherd

Economy news

S&P Global Ratings Report on India’s Economic Outlook for 2025

In December 2024, S&P Global Ratings (formerly known as Standard & Poor’s) released its report titled “India Outlook for 2025”, providing key insights into the country’s economic growth prospects.

Key Highlights from the Report:

• GDP Growth for FY25: India’s Gross Domestic Product (GDP) growth is projected to remain steady at 6.8% for the Financial Year 2024-25 (FY25), despite slow fiscal growth impacting urban demand.
• GDP Forecast for FY26: S&P Global Ratings has raised India’s GDP growth forecast to 6.9% for FY26.
• FY24 GDP: India’s GDP grew by 8.2% in FY24.
• Q2 FY25 Performance: India’s GDP growth for the second quarter (Q2) of FY25 stood at 5.4%, which was weaker than expected.

Key Findings:

Resilient Growth in 2025: India is expected to experience resilient economic growth in 2025, driven by:

• Strong urban consumption
• Stable growth in the services sector
• Ongoing investment in infrastructure

Retail Inflation:

• Retail inflation is forecast to decrease from 5.4% in FY24 to 4.5% in FY25.
• However, inflation is expected to increase slightly to 4.6% in FY26.

Challenges for the Indian Economy:

• Post-pandemic weakness in the public sector and household balance sheets.
• A highly competitive global manufacturing sector.
• Weak agriculture sector growth.

About S&P Global Ratings:

• President: Martina L. Cheung
• Headquarters: New York, United States of America (USA)

State news

Chhattisgarh Launches “Nikshay Niramay Chhattisgarh Abhiyan” to Combat Diseases

In December 2024, Chhattisgarh Chief Minister (CM) Vishnu Deo Sai launched the Nikshay Niramay Chhattisgarh Abhiyan, a 100-day health campaign aimed at eradicating diseases like leprosy, tuberculosis (TB), and malaria in the state. The campaign was inaugurated at the All India Institute of Medical Sciences (AIIMS) campus in Raipur, Chhattisgarh, and will run until March 24, 2025.

Key Features of the Initiative:

• Disease Eradication: The initiative focuses on the identification and treatment of individuals suffering from tuberculosis, malaria, and leprosy.
• Health Check-ups: The campaign also includes health check-ups and treatment for the elderly of the state.
• Mobile Medical Units: CM Vishnu Deo Sai flagged off three ambulances and the deployment of a Mobile Medical Unit (MMU) to ensure access to healthcare in remote areas.

Campaign Goals:

• The Nikshay Niramay Chhattisgarh Abhiyan is part of a broader effort to enhance healthcare access and expedite the eradication of leprosy, TB, and malaria in the state.
• It aligns with Chhattisgarh’s development vision for 2047, focusing on improving health services across the state.

About Chhattisgarh:

• Chief Minister: Vishnu Deo Sai
• Governor: Ramen Deka
• Capital: Raipur
• Important Dams: Dudhawa Dam, Gangrel Dam, and Sondur Dam

Banking news

ICICI Bank and Commonwealth Bank of Australia Sign MoU to Enhance Trade and Business Collaboration

On December , 2024, ICICI Bank Limited, India’s leading private sector bank based in Mumbai (Maharashtra), signed a Memorandum of Understanding (MoU) with the Commonwealth Bank of Australia (CBA). The partnership aims to enhance trade and business collaboration between Australia and India, specifically focusing on the Australia-India corridor.

Key Points of the MoU:

• Support for Customers: The partnership will provide banking services and migration assistance to customers moving between Australia and India, as well as businesses looking to expand in either country.
• Corporate Collaboration: Both banks will explore ways to assist corporate and business customers seeking to invest or establish operations in the other country. This includes offering tailored banking solutions for cross-border transactions.
• Cross-Border Payments: The MoU includes efforts to improve cross-border payments by providing customer-centric solutions that simplify transactions and enhance ease of doing business across the two nations.
• Economic Cooperation: This collaboration aligns with ongoing negotiations for the Comprehensive Economic Cooperation Agreement (CECA), aiming to foster stronger trade and investment ties between the two countries.
• Australia-India Economic Cooperation and Trade Agreement (ECTA): The partnership follows the ECTA, which has been in effect since December 2022, further strengthening the economic and trade relations between Australia and India.

Signatories:

• Rakesh Jha, Executive Director (ED) of ICICI Bank
• Mike Vacy-Lyle, Group Executive of Business Banking at CBA

About ICICI Bank Limited :

• Chief Executive Officer (CEO)- Sandeep Bakhshi
• Incorporated – 1994
• Headquarters- Mumbai, Maharashtra
• Tagline- Hum Hain Na, Khayal Aapka

About Commonwealth Bank of Australia (CBA):

• Chief Executive Officer (CEO)- Matt Comyn
• Headquarters– Sydney, Australia
• Established– 1911

Asian Development Bank (ADB) and NaBFID Sign Letter of Intent to Boost Infrastructure Financing in India

In December 2024, the Asian Development Bank (ADB) and India’s National Bank for Financing Infrastructure Development (NaBFID) signed a Letter of Intent (LOI) aimed at increasing financing for India’s infrastructure sector to promote sustainable development.

Key Highlights:

USD 500 Million Loan for IIFCL: ADB has approved a USD 500 million loan to the India Infrastructure Finance Company Limited (IIFCL). This loan, backed by a sovereign guarantee, is intended to support infrastructure projects in India, specifically in areas such as:

• Connectivity
• Energy transition
• Urban development
• Education
• Healthcare

USD 788.8 Million Loan for Amaravati: ADB has also approved a USD 788.8 million loan (valued at 121.97 billion Japanese yen) for the Andhra Pradesh government to develop Amaravati as a green, smart capital city. The loan aims to provide world-class infrastructure and is a part of efforts to create a sustainable urban hub in the region.

Signatories:

• Ramesh Subramaniam, Group Director General (GDG) of the ADB sector
• Rajkiran Rai G, Managing Director (MD) of NaBFID

About National Bank for Financing Infrastructure Development (NaBFID):

• Chairman: KV Kamath
• Headquarters: Mumbai, Maharashtra
• Established: 2021

Notified as a public financial institution under the Companies Act, 2023 by the Government of India in September 2024.

RBI increases collateral-free agricultural loan limit from Rs 1.6 to Rs 2 lakh

The Reserve Bank of India (RBI) has raised the limit for collateral-free agricultural loans from ₹1.6 lakh to ₹2 lakh. This new limit will be effective from 1st January next year.

Key Points:

• Impact of Inflation on Farmers: The decision comes in recognition of the rising impact of inflation and the increasing cost of agricultural inputs on farmers’ livelihoods.
• Wider Financial Access: The increased limit aims to enhance financial access for farmers, ensuring they have sufficient resources to meet their operational and developmental needs.
• Benefits for Small and Marginal Farmers: Small and marginal farmers stand to benefit the most as the scheme eliminates the need for collateral and reduces borrowing costs, making it more accessible for them to secure loans.
• Kisan Credit Card (KCC) Loans: This move is expected to boost the uptake of Kisan Credit Card loans, helping farmers invest in agricultural operations and improve their livelihoods.
• Publicity and Awareness: Banks have been instructed to publicize this initiative extensively to ensure maximum outreach and awareness among farmers and other stakeholders in their operational areas.

Additional Benefits:

• Financial Inclusion: The initiative strengthens financial inclusion by ensuring that farmers, particularly those in remote areas, have access to necessary funds without the barriers of collateral.
• Agricultural Development: Facilitates increased investments in farming, thereby promoting sustainable agricultural growth.

RBI:

• Founded: 1 April 1935, Kolkata
• Headquarters: Mumbai
• Governor: Sanjay Malhotra

BOBCARD Launches TIARA Credit Card

BOBCARD has launched the TIARA Credit Card, a premium, women-focused card designed to empower modern women with a range of benefits. It was introduced during an event at Pinkathon, featuring prominent personalities like Milind Soman and Ankita Konwar. The TIARA card is powered by the RuPay network and aims to boost women’s financial autonomy without compromising their lifestyle.

Key Features of TIARA Credit Card:

• Joining & Annual Fee: Rs 2,499 + GST, with fee waivers on meeting spending targets.
• Rewards: Earn 15 reward points for every Rs 100 spent on travel, dining, and international purchases.
• Health & Safety Perks: Includes free health packages (Pap Smear, Mammography) and personal accident cover up to Rs 10 Lakhs.
• Lifestyle Benefits: Receive complimentary vouchers worth Rs 31,000 from brands like Myntra, Nykaa, and Lakme Salon.
• Entertainment & Dining: Free memberships to OTT platforms, discounts on movie tickets, and Swiggy One free deliveries.
• Additional Perks: Unlimited domestic lounge access, reduced forex mark-up, and UPI payment access.

A Step Toward Financial Empowerment: The TIARA Credit Card represents more than just financial benefits. With the slogan “Your Woman Card is Your Power Move,” BOBCARD encourages women to embrace their financial independence, challenging societal perceptions and promoting financial success and empowerment.

Max Life Rebrands to Axis Max Life Insurance

Max Life Insurance has officially rebranded as Axis Max Life Insurance, marking a significant transformation following corporate and regulatory approvals. This move follows Axis Bank’s acquisition of a larger stake in Max Life, enhancing their partnership and aligning the company’s future growth strategies.

Key Highlights:

Rebranding and New Corporate Identity:

• The rebranding includes a fresh logo combining Axis’s iconic ‘A’ with a burgundy shade, symbolizing trust, responsibility, and modernity.
• This change reflects the strengthened partnership between Axis Bank and Max Life Insurance, focusing on expanding their reach, particularly in non-metro and tier 1 cities.

Stake Acquisition: Axis Bank raised its stake in Max Life from 19.02% to 19.99%, reducing Max Financial Services Ltd’s stake from 87% to 81%, solidifying Axis’s stronger role in the insurance venture.

Corporate and Regulatory Approvals: The Registrar of Companies issued a fresh certificate of incorporation on December 12, 2024, officially confirming the rebranding. This follows the announcement made in October 2024 integrating ‘Axis’ into the corporate name.

New Brand Campaign: The company launched the ‘Double Bharosa’ campaign, featuring cricketer Rohit Sharma and his wife Ritika Sajdeh, aiming to enhance customer trust and confidence in the services. The campaign emphasizes the combined strengths of Max Life and Axis Bank, reinforcing their reliability and commitment to customer satisfaction.

Award news

2024 Champions of the Earth Award: UNEP Recognition

In December 2024, the United Nations Environment Programme (UNEP) announced the recipients of the prestigious “Champions of the Earth Award”, the UN’s highest environmental honor. This award recognizes individuals and organizations making extraordinary contributions toward environmental protection, with this year’s focus on combating land degradation, drought, and desertification.

Key Highlights:

Madhav Gadgil, a veteran Indian ecologist, was honored with the Champions of Earth Award for his exceptional contributions in the field of conservation and environmental protection. He is one of the six awardees recognized for their outstanding efforts to restore degraded land, increase drought resilience, and prevent desertification.

• Other Awardees: Along with Madhav Gadgil, five other laureates were also acknowledged for their transformative environmental work.
• History of the Award: Since its inception, the Champions of the Earth Award has recognized 122 laureates, including 7 world leaders, 70 individuals, and 19 groups/organizations for their exemplary efforts in environmental conservation.

About the United Nations Environment Programme (UNEP):

• Executive Director (ED): Inger Anderson
• Headquarters: Nairobi, Kenya
• Established: 1972

Scheme news

FAME-III: New Milestone for Electric Mobility in India

India is fast-tracking its electric vehicle (EV) ecosystem with the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme, reflecting the government’s commitment to electric mobility and reducing fossil fuel dependency. With a substantial outlay of Rs. 10,900 crore over two years (April 2024 to March 2026), the scheme is designed to promote electric mobility as part of India’s vision of becoming a global leader in the sector.

Key Phases of FAME Scheme:

FAME I (2015-2020):

• Outlay: Rs. 900 crore.
• Focused on demand incentives for EV buyers.
• Supported 278,000 EVs, with a total incentive of Rs. 343 crore.

FAME II (2020-2024):

• Increased Outlay: Rs. 10,000 crore (later revised to Rs. 11,500 crore).
• Supported 1.6 million vehicles, with a rise in EV manufacturers from 124 to 731.
• EV sales grew from less than 7,000 units in FY15 to 1.5 million units in FY24, accounting for 6.8% of total automobile sales.

FAME-III (Upcoming):

• Launch: Expected within the next two months.
• Focus on expanding EV adoption across segments, including heavy-duty trucks.

The Road Ahead:

• Skilled Workforce: Addressing skill gaps for a future-ready EV workforce is crucial for sustaining growth.
• Industry Collaboration: Encouraging collaboration between stakeholders to make India a global leader in EVs.
• Infrastructure Expansion: Strengthening charging infrastructure and promoting innovation in EV-related technologies.
• Policy Support: Ongoing policy interventions will drive innovation and investments in the sector.

Appointment news

François Bayrou: Macron’s New Prime Minister Amid Political Turmoil

François Bayrou has been appointed as the Prime Minister of France by President Emmanuel Macron, marking his third appointment in 2024.

• Political Context: Bayrou, a centrist and long-time Macron ally, takes charge amid a deepening political crisis in France, following a vote of no-confidence that ousted Michel Barnier’s minority government.
• Immediate Challenges: Bayrou faces significant obstacles, including navigating a divided parliament and securing support for critical legislation, particularly the 2025 budget bill.

Manish Jain Appointed as Executive Director of YES Bank

Manish Jain has been appointed as the Executive Director (Whole-Time Director) of YES Bank, with the Reserve Bank of India (RBI) granting approval.

• Tenure: His appointment will be effective from December 11, 2024, and will last for three years, until December 10, 2027.
• Board Resolution: The decision follows a prior resolution by the bank’s board of directors and is subject to the approval of YES Bank’s shareholders.
• Background: Jain, who joined YES Bank in September 2023, brings extensive experience in corporate and wholesale banking.

YES bank:

• Headquarters: Mumbai
• CEO: Prashant Kumar (6 Mar 2020–)
• Founded: 2004

Ranks and report news

Bloomberg’s List of the World’s Richest Families for 2024: Key Insights

The Bloomberg list of the world’s richest families for 2024 highlights the growing wealth disparities among the global elite, showcasing families that have amassed staggering fortunes across generations. Here’s a breakdown of the key findings:

Walton Family (USA) 1^st

• Wealth: $432.4 billion
• Primary Source: Walmart, the retail giant.
• Stake: 46% ownership in Walmart, with over 10,600 stores globally.
• Increase in Wealth: Walmart shares surged by 80% in 2024, adding $172.7 billion to their fortune.
• Daily Wealth Increase: $473.2 million per day or $328,577 per minute.
• Generations: Three generations, with strong control over Walmart’s operations.

Indian Families in the Top 25

Ambani Family (India)

• Wealth: $99.6 billion
• Global Position: Ranked 8th on the list, reflecting Reliance’s growing influence globally.

Mistry Family (India)

• Wealth: $41.4 billion
• Global Position: Ranked 23rd, showcasing significant influence in both the Indian and global construction sectors.

Summit news

PM Modi Chairs the 4th National Conference of Chief Secretaries

The 4th annual National Conference of Chief Secretaries commenced in New Delhi on 13 December 2024. As per the practice, Prime Minister Narendra Modi will chair the last two days of the National Conference of Chief Secretaries, i.e. on 14 and 15th December 2024.

The fourth edition of the National Conference of the Chief Secretaries is in New Delhi from 13-15 December 2024.

Representatives of the Central Government, Chief Secretaries, and other senior officials of all 28 states, as well as eight Union Territories and domain experts, are participating in the conference.

About the National Conference of Secretaries: The National Conference of Chief Secretaries is an initiative of the government of India to strengthen the spirit of cooperative federalism. The Chief Secretary heads the civil services of their respective states and Union Territories. The Cabinet Secretary heads the civil service at the Union Level.

• The conference’s main aim is to encourage participative governance and partnership between the Centre and the State Governments.
• To prepare a common development agenda and cohesive action by state and centre to achieve the goals of the common agenda.
• It provides a platform where the state /Union Territory government can present their best practices in a particular domain.
• The state/Union Territory can learn from one another’s successful practices.
• To achieve this goal, the central government organised the  First National Conference of the Chief Secretaries in June 2022 at Dharamshala, Himachal Pradesh.
• Second Conference was organised in New Delhi in January 2023.
• Third Conference was also hosted by New Delhi in December 2023.

Theme of the 4th National Conference of the Chief Secretaries: The theme of the 4th National Conference of the Chief Secretaries is -‘Promoting Entrepreneurship, Employment & Skilling – Leveraging the Demographic Dividend.

3rd India -UK Financial Market Dialogue held in Gift City, Gujarat

• The 3rd India-UK Financial Market Dialogue was held on 12th December 2024 at GIFT City (Gujarat International Financial Tech City).
• The annual dialogue brought together senior officials from financial regulators of both India and the UK to discuss collaboration in financial regulations and ways to enhance trade and investment between the two countries.

Key Focus Areas:

Collaboration on Financial Regulations:

• The dialogue emphasized the importance of strengthening business-to-business links between the two nations.
• The discussions aimed at creating an environment conducive to unlocking commercial opportunities in both countries’ financial markets.

Participants:

• The dialogue was attended by senior officials from India’s Ministry of Finance and the UK’s His Majesty Treasury.
• Financial regulators from both countries were also present, including the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), Pension Fund Regulatory and Development Authority (PFRDA), and the International Financial Services Centre Authority (IFSCA) from India.
• From the UK, representatives from the Bank of England and the Financial Conduct Authority participated.

Key Financial Regulators of India

Reserve Bank of India (RBI):

• Established in 1935 under the Reserve Bank of India Act, 1934.
• Regulates banks, NBFCs, financial institutions, and the money market.
• Headquarters: Mumbai
• Governor: Sanjay Malhotra

Securities and Exchange Board of India (SEBI):

• Established as a non-statutory body in 1988 and became statutory in 1992.
• Regulates the capital and commodities markets.
• Headquarters: Mumbai
• Chairperson: Madhabi Puri Buch

Insurance Regulatory and Development Authority of India (IRDAI):

• Established in 2000 under the IRDAI Act, 1999.
• Regulates India’s insurance sector.
• Headquarters: Hyderabad
• Chairman: Debasish Panda

Pension Fund Regulatory and Development Authority (PFRDA):

• Established in 2003; made statutory under the PFRDA Act, 2013.
• Regulates India’s pension market.
• Headquarters: New Delhi
• Chairperson: Dr. Deepak Mohanty

International Financial Services Centre Authority (IFSCA):

• Established in 2020 under the IFSCA Act, 2019.
• Regulates the International Financial Services Centre (IFSC) located in GIFT City, Gujarat.
• Headquarters: GIFT City, Gujarat
• Chairperson: K Rajaraman

About GIFT City

• GIFT City (Gujarat International Financial Tech City) is a multi-service special economic zone located between Ahmedabad and Gandhinagar in Gujarat, developed by the Gujarat Government.
• It hosts India’s first and only International Financial Services Centre (IFSC).
• GIFT City is designed to be a Smart City and aims to become a global financial hub akin to Singapore.
• It is home to India’s first international stock exchange, India International Exchange (India INX).
• Chairman of GIFT City: Hasmukh Adhia

India Maritime Heritage Conclave 2024

• The 1st India Maritime Heritage Conclave (IMHC 2024) took place on December 11-12, 2024, organized by the Ministry of Ports, Shipping and Waterways (MoPSW).
• The event celebrated India’s rich maritime legacy and aimed to position India as a global leader in maritime affairs.
• It brought together key ministers, maritime experts, and international dignitaries to discuss the future of India’s maritime sector, focusing on sustainability, innovation, and employment opportunities.

Historic Significance of India’s Maritime Heritage

Ancient Maritime Roots:

• India’s maritime history dates back to ancient times, with references found in the Rig Veda and the Indus Valley Civilization.
• Trade, shipbuilding, and navigation were integral to India’s early maritime activities, which connected the country to global trade routes.

Modern Maritime Leadership:

Today, India’s extensive coastline and strategic ports continue to play a pivotal role in global trade, handling 95% of the country’s trade volume and 70% of its trade value through maritime channels.

Key Highlights of IMHC 2024

Inauguration and Support:

• The conclave was inaugurated by Union Minister Sarbananda Sonowal.
• Vice-President Jagdeep Dhankhar and Prime Minister Narendra Modi sent messages of support, reinforcing India’s commitment to maritime growth.

Discussions and Focus Areas:

• The event included keynote sessions and panel discussions on topics such as:
• Making India a global maritime hub.
• Creating employment opportunities in the maritime sector.
• Preserving India’s maritime heritage.
• The conclave also highlighted the role of sustainable practices in the maritime industry.

International Participation: Over 20 international exhibitors participated, with representatives from countries like Greece, Italy, and the UK, showcasing global collaboration in the maritime sector.

National Maritime Heritage Complex (NMHC) at Lothal

• A key feature of the conclave was the presentation of the upcoming National Maritime Heritage Complex (NMHC) in Lothal, Gujarat.
• Lothal, a city with historical significance dating back to 2600 BCE, was once an important center of maritime trade.
• The NMHC will showcase India’s ancient shipbuilding methods, trade techniques, and contributions to global maritime practices, serving as a hub for preserving India’s maritime history.

Important days

Nation celebrates Vijay Diwas to commemorate India’s 1971 victory over Pakistan

Vijay Diwas is celebrated on 16th December each year to commemorate India’s victory over Pakistan in the 1971 war, marking a pivotal moment in Indian history.

Victory in the 1971 War:

On this day in 1971, General AA Khan Niazi, the chief of the Pakistani forces, and 93,000 Pakistani troops surrendered unconditionally to the allied forces consisting of the Indian Army and Mukti Bahini (the Bengali freedom fighters).

• Martyrs’ Tribute: The nation pays rich tributes to the martyrs who sacrificed their lives during the war, acknowledging their bravery and dedication to the country.
• Formation of Bangladesh: The victory led to the secession of East Pakistan (present-day Bangladesh), which became an independent nation after the war, fundamentally altering the political landscape of South Asia.

Significance: Vijay Diwas honors the courage and valor of the Indian military and Mukti Bahini fighters in achieving a decisive victory.

It marks the culmination of India’s support for Bangladeshi independence and a crucial moment in the liberation of Bangladesh.

Cultural and National Impact:

• The day is remembered as a symbol of India’s military strength and its commitment to supporting democratic movements in neighboring countries.
• It also marks the legacy of Indo-Bangladesh relations, which continue to be strengthened by shared historical ties.

Obituary news

Legendary tabla maestro Zakir Hussain passes away at 73

Ustaad Zakir Hussain, the legendary tabla maestro, passed away on 15th December 2024 at the age of 73 in the United States. He had been battling blood-pressure-related issues and had been previously hospitalized due to heart problems.

Early Life and Background: Born on March 9, 1951, in Mumbai, Zakir Hussain was the eldest son of the renowned tabla player Allah Rakha. Growing up in a musical family, he was naturally drawn to music from an early age.

Career Highlights:

• Musical Achievements: With a career spanning over six decades, Zakir Hussain became one of the most influential tabla players in the world.
• He won five Grammy Awards, including three at the 66th Grammy Awards in 2024, underscoring his global recognition.
• Collaborations: Hussain collaborated with numerous renowned artists, blending Indian classical music with other genres. His 1973 project with John McLaughlin, L. Shankar, and T.H. Vikku Vinayakram was groundbreaking, creating a fusion of Indian classical music with jazz that was revolutionary at the time.

Cinematic Contributions: Apart from his musical career, Hussain acted in films like ‘Saaz’, ‘Heat and Dust’, and his most recent project, ‘Monkey Man’ (2024).

• Awards and Recognition: Padma Shri (1988), Padma Bhushan (2002), and Padma Vibhushan (2023) are some of the prestigious honors Zakir Hussain received in recognition of his contribution to music and culture.
• Legacy: Zakir Hussain’s legacy as a global ambassador of Indian classical music will continue to inspire musicians and music lovers around the world. His innovative work in blending traditional Indian music with modern genres and his iconic performances left an indelible mark on both Indian and international music scenes.

Raj Manchanda, Indian Squash Legend and Arjuna Awardee passed away

In December 2024, Raj Manchanda, the renowned Indian squash player, passed away at the age of 79 in New Delhi, Delhi. Born on 5th August 1945 in Abohar, Punjab, Raj Manchanda was widely respected for his remarkable contributions to Indian squash.

Key Achievements:

• Arjuna Awardee (1983): Raj Manchanda was honored with India’s second-highest sports honor, the Arjuna Award, in recognition of his outstanding achievements in squash.
• National Squash Champion: He won six consecutive National Squash Championships from 1977 to 1982 and claimed 11 titles for the Services.
• International Success: He led the Indian Squash Team to a silver medal at the 1981 Asian Team Championships in Karachi and a bronze medal at the 1984 Asian Team Championships in Jordan.
• Legacy: Manchanda’s impact on the sport is also commemorated with the naming of two squash courts at the National Defence Academy (NDA) in Pune, Maharashtra, and the Indian Military Academy (IMA) in Dehradun, Uttarakhand, in his honor.

Post-Squash Career:

• After his squash career, Raj Manchanda transitioned to work as a consultant at Exhibition Industries in Delhi.
• Raj Manchanda’s legacy as a player and his contributions to Indian squash remain a significant part of the country’s sporting history.

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National news

CM Dhami inaugurates 10th World Ayurveda Congress 2024 at Dehradun

The 10th World Ayurveda Congress and Arogya Expo 2024 was inaugurated by Uttarakhand Chief Minister Pushkar Singh Dhami in Dehradun on 12th December 2024. This biennial event, organized by the Union Ministry of Ayush and the World Ayurveda Foundation, runs from 12th to 15th December 2024.

• The theme for this edition is “Digital Health – an Ayurveda Perspective,” focusing on integrating modern technology with traditional Ayurvedic practices. The conference explores advancements in digital health, including telemedicine, mobile health apps, and wearable technology, to enhance healthcare delivery.
• The World Ayurveda Congress was first held in Kochi, Kerala in 2002, and aims to promote Ayurveda as a global healthcare system. The Arogya Expo showcases leading Ayurvedic products and research from institutions across India and the world.

Uttarakhand:

• Capitals: Dehradun (Winter), Bhararisen (Summer)
• Founded: 9 November 2000
• Chief minister: Pushkar Singh Dhami
• Governor: Gurmit Singh

Ist India Maritime Heritage Conclave 2024 Concludes in New Delhi

The first India Maritime Heritage Conclave 2024 concluded on 12th December 2024 in New Delhi, showcasing India’s rich maritime legacy dating back to the Harappan period. The Conclave brought together key ministers, maritime experts, and industry leaders from India and abroad to discuss the future of India’s maritime sector.

Organized by: The Union Ministry of Ports, Shipping and Waterways, with collaboration from the Ministries of Labour, Youth Affairs, Education, Tourism, and Culture.

Inaugural Address: The event was inaugurated by Union Minister Sarbananda Sonowal on 11th December 2024. The Vice President Jagdeep Dhankhar and Prime Minister Narendra Modi also addressed the Conclave, with Gajendra Singh Shekhawat (Union Minister for Culture and Tourism), Dr. Mansukh Mandaviya (Union Minister for Labour and Youth Affairs), and Gujarat CM Bhupendra Patel participating.

Objectives of the Conclave:

• Highlighting India’s maritime heritage.
• Charting a roadmap for India to become a global maritime hub.
• Creating awareness about employment opportunities in the maritime sector.
• Integrating maritime heritage into India’s education system.
• Promoting Indian maritime heritage as a tourist destination and ensuring its preservation.

Additionally, the Government of India is developing the National Maritime Heritage Complex at Lothal, Gujarat to preserve and promote this rich history. The Conclave was also attended by representatives from four state governments: Gujarat, Goa, Bihar, and Arunachal Pradesh.

Intensified 100-Day TB Elimination Campaign Launched

On December 2024, Union Minister Jagat Prakash Nadda, Ministry of Health and Family Welfare (MoH&FW), launched the intensified 100-day Tuberculosis (TB) elimination campaign to accelerate the fight against TB in Panchkula, Haryana. The campaign will culminate on March 24, 2025.

During the launch, Union Minister Jagat Prakash Nadda also introduced national guidelines for the new drug-resistant TB regimen called BPALM. These guidelines aim to streamline and standardize treatment.

Campaign Overview:

• Duration: 100 days (ends on 24 March 2025, World TB Day)
• Aim: Accelerate efforts to achieve “TB-Mukt Bharat” (TB-free India) by 2025.
• Coverage: 347 districts across 33 States and Union Territories.
• Objective: Strengthen the National TB Elimination Programme (NTEP).

New Drug-Resistant TB Guidelines:

• Guidelines Introduced: BPALM Regimen
• Streamlines and standardizes treatment for drug-resistant TB.

About the Ministry of Health and Family Welfare (MoH&FW):

• Union Minister: Jagat Prakash Nadda (Rajya Sabha, Gujarat)

Ministers of State (MoS):

• Jadhav Prataprao Ganpatrao (Buldhana, Maharashtra)
• Anupriya Patel (Mirzapur, Uttar Pradesh)

Banking news

$500 million ADB loan to develop sustainable infrastructure in India

The Asian Development Bank (ADB) approved a $500 million financial intermediation loan on 12 December 2024 to support environmentally sustainable infrastructure development in India. Here are the key details:

Loan Details

• Recipient: India Infrastructure Finance Company Limited (IIFCL), owned by the Government of India.
• Guarantee: Sovereign Guarantee The Government of India will repay the loan if IIFCL defaults.

Utilization of Loan

Infrastructure Financing: The funds will finance greenfield (new) and brownfield (existing) projects.

Sectors Covered

• Connectivity and Energy Transition: Sustainable transport and renewable energy projects.
• Urban Development: Includes sustainable urban infrastructure.
• Education and Healthcare: Projects aimed at improving social infrastructure.
• Capacity Building: Strengthen IIFCL’s ability to integrate green technologies and implement best practices in infrastructure development.

India’s Climate Financing Gap

• India faces significant climate-related challenges such as floods, droughts, and cyclones.
• To combat these, India needs to invest heavily in sustainable infrastructure but faces a $1 trillion climate financing gap.

About India Infrastructure Finance Company Limited (IIFCL)

• Establishment: 2006.
• Ownership: Wholly owned by the Government of India.
• Registration: Non-Banking Finance Company – Non-Deposit taking Infrastructure Financing Company (NBFC-ND-IFC) under RBI.
• Purpose: Provides long-term loans for viable infrastructure projects in sectors like:
• Transportation, Energy, Water, Sanitation, Communication, and Social Infrastructure.
• Headquarters: New Delhi.
• Managing Director: Padmanabhan Raja Jaishankar.

About Asian Development Bank (ADB)

• Establishment: 1966.
• Headquarters: Mandaluyong City, Metro Manila, Philippines.
• Members: 69 countries from the Asia-Pacific region.
• Objective: Promote economic development and cooperation in the Asia-Pacific region.

Bank of Baroda Launches New Loan Schemes for MSMEs

On December, 2024, Bank of Baroda (BOB), a leading Public Sector Bank, launched two new loan schemes for the MSME sector:

• Baroda Mahila Swavalamban – Aimed at empowering women entrepreneurs.
• Baroda Smart OverDraft (OD) – A digital OD facility for GST-registered MSMEs.

Key Features

Baroda Mahila Swavalamban:

• Competitive interest rates starting at 9.15%, linked to Baroda Repo Linked Lending Rate (BRLLR).
• Loan range: ₹20 lakh to ₹7.5 crore.
• Relaxed margin requirements for capital expenditure.

Baroda Smart OverDraft: Technology-driven credit assessments based on GST returns, banking activity, and online transactions.

Objective: Both schemes aim to simplify and improve access to financing for the MSME sector, fostering growth and sustainability.

About Bank of Baroda (BOB)

• Managing Director & CEO: Debadatta Chand
• Headquarters: Vadodara, Gujarat
• Tagline: India’s International Bank
• Established: 1908

IDFC FIRST Bank Introduces AI-Powered Holographic Digital Avatar of Amitabh Bachchan

On December , 2024, IDFC FIRST Bank unveiled India’s first AI-powered holographic digital avatar featuring its brand ambassador, Amitabh Bachchan. The innovative technology uses Holographic Extended Reality (HXR) to provide an immersive and personalized banking experience.

Deployment

• The first device was launched at the bank’s Juhu branch in Mumbai.
• Plans are in place to expand deployment across high footfall branches and strategic locations nationwide.

Key Features of the Avatar Offers insights into banking services, including:

• Zero Fee Banking
• Mobile Banking
• Monthly Interest Credits
• BRAVO Current Account

Objective: This initiative underscores IDFC FIRST Bank’s commitment to its digital-first strategy, enhancing customer engagement and setting new benchmarks in the banking sector.

About IDFC FIRST Bank

• Headquarters: Mumbai, Maharashtra
• Focus: Combining innovation and customer-centricity in the financial services domain.

State news

Himachal Government launches Him Bhog Atta and five Welfare scheme

On the completion of two years of his government, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu launched six welfare schemes aimed at improving various sectors of the state’s development. The schemes were launched in a ceremony held in Bilaspur, where the Chief Minister also distributed financial assistance to the beneficiaries. Here is an overview of the welfare schemes:

Him Bhog Atta

• Objective: Promote natural farming by using maize grown through natural farming methods.
• Details: The maize is procured from 1,506 farmers across 10 districts. The government aims to encourage natural farming and plans to enroll 36,000 farmers in the Rajiv Gandhi Natural Farming Start-up Scheme.

Indira Gandhi Sukh Shiksha Yojana

• Objective: Prevent child exploitation and support children from vulnerable families.
• Details: Monthly financial assistance of Rs 1,000 for children below 18 years of age, benefiting 23,000 children from widows, destitute women, divorced women, and disabled parents.
• Annual Budget: Rs 53.21 crore.

Himachal Pradesh Subtropical Horticulture, Irrigation and Value Addition Project (HP Shiva)

• Objective: Promote horticulture development in nine districts.
• Details: The scheme will cover 6,000 hectares and promote fruit cultivation (oranges, guavas, litchi, plums). It is expected to benefit 15,000 farming families, producing 1.3 lakh metric tonnes of fruit annually by 2032, with a market value of Rs 400 crore.
• Total Budget: Rs 1,292 crore.

E-Taxi under Rajiv Gandhi Start-up Swarojgar Yojna

• Objective: Provide electric taxis to promote self-employment.
• Details: 16 electric taxi owners were handed the keys, with a 50% subsidy on vehicle purchases. The electric vehicles will be leased to the state government for five years.

Cow Dung Purchase Scheme

• Objective: Boost farmers’ income by purchasing organic and vermicompost from farmers.
• Details: The government will buy cow dung at Rs 300 per quintal, with payments directly transferred to the farmer’s account.

Mobile Ayush Healthcare Units

• Objective: Provide healthcare to remote regions.
• Details: Five mobile units were launched to offer Ayurveda, Unani, or Homeopathy treatments in tribal areas like Kinnaur, Lahaul & Spiti, Chamba, and Sirmaur district.

Mukhyamantri Sukh-Ashray Yojana

• Objective: Support orphaned children with education, care, and support.
• Details: Financial assistance of Rs 1.90 crore was released for eligible beneficiaries. The scheme offers support until the children reach 27 years of age.
• These initiatives reflect the government’s commitment to addressing welfare, agriculture, education, and healthcare needs for the people of Himachal Pradesh.

Himachal Pradesh:

• Capitals: Shimla (Summer), Dharamshala (Winter)
• Chief minister: Sukhvinder Singh Sukhu
• Governor: Shiv Pratap Shukla

‘Urjaveer’ Scheme: A Step Towards 100% Green Energy in Andhra Pradesh

On December  2024, Union Minister Manohar Lal Khattar, Ministry of Power (MOP) along with Chief Minister (CM) of Andhra Pradesh (AP), Nara Chandrababu Naidu, inaugurated the ‘Urjaveer’ scheme at Poranki in Krishna district of Andhra Pradesh (AP).

The Urjaveer Scheme, implemented by Energy Efficiency Services Limited (EESL), is designed to promote the use of energy-efficient appliances while offering economic benefits to individuals.

This initiative aims to transform AP into a 100% green energy state, focusing on sustainable development and energy conservation.

About the Scheme:

Objective: Promote the use of energy-efficient appliances to make Andhra Pradesh a 100% green energy state.

• Implementing Agency: Energy Efficiency Services Limited (EESL)
• A Joint Venture (JV) of Public Sector Undertakings (PSUs) under the Ministry of Power.

Andhra Pradesh:

• Capital: Amaravati
• Chief minister: N. Chandrababu Naidu
• Governor: S. Abdul Nazeer

Appointment news

Vaibhav Chaturvedi Appointed as Ex-Officio Member of IBBI

Vaibhav Chaturvedi was appointed as the ex-officio member of the Insolvency and Bankruptcy Board of India (IBBI) under the provisions of Section 189(1)(c) of the Insolvency and Bankruptcy Code, 2016.

Current Role: Vaibhav Chaturvedi serves as the Chief General Manager (CGM), Credit Risk Regulation at the Reserve Bank of India (RBI).

About Insolvency and Bankruptcy Board of India (IBBI)

• Chairperson: Ravi Mital
• Headquarters: New Delhi, India
• Established: October 1, 2016

Functions and Objectives

• Implementation of the Insolvency and Bankruptcy Code (IBC), 2016:
• Promotes transparency, accountability, and efficiency in insolvency and bankruptcy processes.
• Oversees resolution of stressed assets.

Credit Discipline: Facilitates timely and transparent insolvency resolutions to restore confidence in the financial sector.

About IBC, 2016

• Aims to restructure and resolve insolvencies efficiently.
• Strengthens the financial ecosystem by ensuring timely interventions and resolutions

Rajeev Mehta Elected Secretary General of Fencing Confederation of Asia (FCA)

Rajeev Mehta, former Secretary General of the Indian Olympic Association (IOA), was elected as the Secretary General of the Fencing Confederation of Asia (FCA) for a term of four years during the 37th FCA General Assembly held in Tashkent, Uzbekistan.

• First Indian: He is the first Indian administrator to hold this prestigious position, succeeding Rusni Abu Hassan (Malaysia).
• Previous Role: Rajeev Mehta previously served as the Secretary General of the Fencing Association of India (FCI).

About Fencing Confederation of Asia (FCA)

Establishment:

Constitution amended on September 7, 2015.

The name “Fencing Confederation of Asia” was adopted during the General Assembly in Nantong, China, in August 2007.

• President: H.H. Engr. Sheikh Salem Sultan AlQasimi.
• Headquarters: Dubai, United Arab Emirates (UAE).
• Members: 46 countries.

Award news

2024 Nobel Prize winners Honoured in Stockholm and Oslo

The 2024 Nobel Prizes were awarded on 10th December 2024 in ceremonies held in Stockholm and Oslo. The Nobel Prizes were established by Alfred Nobel, a Swedish inventor and businessman, who left his fortune to create these prestigious awards to honor those who have conferred the greatest benefit to humanity.

Nobel Prize Winners of 2024:

Physics

• John Hopfield (American)
• Geoffrey Hinton (British-Canadian)
• For their work in physics related to artificial intelligence and neural networks.

Chemistry

• David Baker (American)
• Demis Hassabis (British)
• John Jumper (American)
• For their contributions to the understanding of protein folding and its applications.

Physiology or Medicine

• Victor Ambros (American)
• Gary Ruvkun (American)
• For their pioneering work in the discovery of microRNA and its significance in gene regulation.

Literature

• Han Kang (South Korea)
• For her exceptional literary contributions, especially in examining complex human emotions.

Economics

• Daron Acemoglu (Turkish-American)
• Simon Johnson (British-American)
• James Robinson (American)
• For their work on the economics of democracy and the role of institutions in economic development.

Peace

• Nihon Hidankyo (Organization of Japan)
• For their tireless efforts in advocating for nuclear disarmament and peace.

Previous Year’s Winners (2023):

• Physics: Pierre Agostini (France), Ferenc Krausz (Hungary), Anne L’Huillier (France)
• Chemistry: Moungi Bawendi (American), Louis Brus (American), Aleksey Yekimov (Russian)
• Physiology or Medicine: Katalin Karikó (American), Drew Weissman (American)
• Literature: Jon Fosse (Norway)
• Economics: Claudia Goldin (American)
• Peace: Narges Mohammadi (Iran)

About the Nobel Prize:

• Foundation: The Nobel Prize was established by Alfred Nobel, who passed away on 10th December 1896. His fortune was used to create the Nobel Foundation, which began awarding prizes in 1901.
• Categories: The prizes are awarded in Physics, Chemistry, Physiology or Medicine, Literature, Peace, and Economics (since 1969).
• Prize Money: Winners receive a cash award of 11 million Swedish kroner. If multiple recipients share a prize, the money is divided among them.

BBC’s 100 Most Inspiring and Influential Women List 2024

On December 2024, London (the United Kingdom (UK))-based British Broadcasting Corporation (BBC) released the 12th edition of BBC’s 100 Most Inspiring and Influential Women List 2024. This latest edition of the list has featured 3 Indian women: former civil servant and renowned social activist Aruna Roy; three-time Olympian-turned-politician Vinesh Phogat, and performer of funerary rites, Pooja Sharma, for their exceptional contributions to social activism, sports and breaking societal barriers.

Theme: Resilience

The 12th edition of the BBC’s 100 Most Inspiring and Influential Women List highlights women from around the globe for their exceptional contributions across various fields.

Indian Women Featured

• Aruna Roy: Former civil servant and renowned social activist.
• Vinesh Phogat: Three-time Olympian-turned-politician, celebrated for her achievements in sports and leadership.
• Performer of funerary rites, recognized for breaking societal barriers.

Indian-Origin Women Featured

Sunita Williams: NASA Astronaut and a symbol of inspiration in space exploration.

Sneha Revanur: A 20-year-old Artificial Intelligence (AI) expert and innovator.

About BBC

• Chairman: Samir Shah
• Headquarters: London, United Kingdom (UK)
• Established: 1922

Indira Gandhi Prize for Peace, Disarmament, and Development 2024

On December, 2024, the Indira Gandhi Memorial Trust announced that Former President of Chile, Veronica Michelle Bachelet Jeria will be conferred the Indira Gandhi Prize for Peace, Disarmament and Development for 2024 in recognition of her exemplary contributions to human rights, peace, and equality.

Reason for Recognition: For her exemplary contributions to human rights, peace, and equality.

Award Details

• Monetary Award: Rs 25 lakh
• Additional: Citation

About Chile

• President: Gabriel Boric
• Capital: Santiago
• Currency: Chilean Peso (CLP)

Science and tech news

Iran Successfully Launches Saman-1 Space Tug and Other Payloads into Low Earth Orbit

On December , 2024, Iran successfully launched its Saman-1 Orbital Transfer Unit (OTU), Fakhr-1 nanosatellite, and an additional research payload into Low Earth Orbit (LEO).

• Launch Vehicle: The payloads were carried by Iran’s domestically developed Simorgh Satellite Launch Vehicle (SLV), marking its 8th successful launch.
• Launch Site: The mission took place from the Imam Khomeini Space Launch Terminal in Semnan province, Tehran.
• Payload Capacity: The launch set a new national record, lifting a combined payload weight of 300 kg, showcasing Simorgh’s capability to handle complex, multi-payload missions.

About Iran

• President: Masoud Pezeshkian
• Capital: Tehran
• Currency: Iranian Rial (IRR)

Sports news

Dommaraju Gukesh: Youngest Chess World Champion at 18

Dommaraju Gukesh’s rise to becoming the youngest chess world champion is a story of relentless ambition, focus, and resilience. At the age of 18, Gukesh defeated reigning champion Ding Liren in a grueling three-week-long contest in Singapore, surpassing Garry Kasparov’s record as the youngest chess world champion in history. His journey from a young boy declaring his ambition to this historic feat showcases extraordinary dedication and talent.

Key Highlights of the FIDE World Chess Championship 2024

• Champion: D Gukesh of India, crowned the youngest chess world champion at the age of 18.
• Defending Champion: Ding Liren of China, the 2023 champion.
• Venue: Singapore
• Format: 14-round “classical” chess event, with a prize fund of $2.5 million.
• Final Score: Gukesh – 7.5, Ding – 6.5.
• Decisive Game: Gukesh secured the title by winning the 14th game, after Ding’s critical blunder while playing black.

Early Ambition and Rise to Fame

• At the age of 11, Gukesh declared his ambition to become the youngest chess world champion, a now-viral moment.
• Gukesh missed the world’s youngest grandmaster title by just 17 days but went on to become India’s youngest grandmaster.
• He replaced Viswanathan Anand as the top-ranked Indian player after 36 years.

Historical Significance

• Gukesh joins an illustrious list of 18 world champions since 1886, including legends like Bobby Fischer, Garry Kasparov, and Viswanathan Anand.
• He is the first teenager to become a chess world champion.

Edusprint Youtube Channel : Edusprint Academy

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.

Edusprint Youtube Channel : Edusprint Academy

We at Edusprint Academy are committed to bringing you the most relevant and updated 11th 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

Flipkart and DPIIT Collaborate to Boost India’s Startup Ecosystem

Flipkart has partnered with the Department for Promotion of Industry and Internal Trade (DPIIT) to accelerate the growth of tech startups across India. This collaboration builds on Flipkart’s initiatives, including the Flipkart Leap and Ventures program, backed by a $100 million fund.

Support for Startups:

• Investment and mentorship for startups via Flipkart’s $100 million venture fund.
• Assistance in scaling operations, with resources and international expansion opportunities.

Access to Government Resources: Startups gain access to government market research, datasets, and fast-tracked patent applications.

Focus on Innovation:

• Accelerator program aids in prototype development.
• Supports the Startup India initiative.

Vision and Impact

• Strengthening India’s Global Position: Promotes a thriving entrepreneurial ecosystem, turning ideas into impactful solutions and bolstering India’s innovation leadership globally.
• Flipkart’s Goals: Facilitates breakthrough innovations to enhance India’s business and technology sectors.
• Leadership Note: Rajneesh Kumar, Chief Corporate Affairs Officer, highlighted the collaboration as a step toward unlocking opportunities for India’s global technology and business growth.

NOTE: Shri Amardeep Singh Bhatia is the Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT)

Gujarat CM Launches Mukhyamantri Paushtik Alpahar Yojana (Nutritious Snack Scheme)

On December , 2024, Bhupendra Patel, the Chief Minister (CM) of Gujarat, launched the Mukhyamantri Paushtik Alpahar Yojana, aimed at improving the health, nutrition, and educational outcomes of students. This scheme is in line with Gujarat’s vision of fostering a healthy, educated future generation and will officially begin on December 11, 2024.

Key Details:

• Objective: The initiative is part of the Suposhit Gujarat Mission and complements the ongoing Prime Minister Poshan Yojana (PM Midday Meal Scheme). It aligns with PM Narendra Modi’s vision of ‘Padhai Bhi, Poshan Bhi’.
• Target Group: The scheme will provide nutritious breakfasts to students from Balvatika (pre-primary) to Grade 8, ensuring no child enters the classroom on an empty stomach.
• Operational Details: The nutritious snacks will be served immediately after the morning prayer before educational activities begin.

Financials:

The state government will incur an annual cost of Rs 617 crore for the implementation of the scheme.

• Rs 493 crore will be allocated for material costs.
• Rs 124 crore will be used to increase staff honorariums.

Additionally, the honorarium for staff working under the PM Poshan Yojana will also see a 50% increase as part of this initiative.

This scheme aims to support students’ well-being, ensuring they are well-nourished to perform better academically.

Gujarat:

• Capital: Gandhinagar
• Governor: Acharya Devvrat
• Chief minister: Bhupendra Patel

Economy news

S&P Global Maintains 6.8% Growth Forecast for FY25

S&P Global has maintained its projection for India’s GDP growth at 6.8% for FY25, despite a weaker-than-expected 5.4% growth in Q2FY25. This forecast comes in the wake of the Reserve Bank of India (RBI) lowering its own growth estimate to 6.6%. The credit rating agency anticipates a modest monetary policy easing by the RBI in 2025, with a 50 basis points reduction in the repo rate. S&P’s optimistic outlook is driven by strong urban consumption, steady service sector growth, and infrastructure investments.

Growth Projections

• FY25: Maintains a GDP growth forecast of 6.8%, despite a slower Q2 growth of 5.4%.
• FY26: Anticipates a slight increase to 6.9%.

Key Factors

• Drivers: Strong urban consumption, robust service sector growth, and infrastructure investments.
• Comparison with RBI: Higher than the RBI’s revised estimate of 6.6% for FY25.

Monetary Policy Outlook

• RBI expected to ease monetary policy in 2025 with a 50 basis points repo rate cut.
• Retail inflation forecast: 4.5%, slightly below the RBI’s estimate.

Appointment news

Sanjay Malhotra Appointed as New RBI Governor

On December 9, 2024, the Government of India appointed Sanjay Malhotra, the Revenue Secretary in the Ministry of Finance (MOF), as the new Governor of the Reserve Bank of India (RBI). He takes over from Shaktikanta Das, the second longest-serving RBI Governor, and becomes the 26th Governor of the institution.

Key Details:

• Approval: The appointment was approved by the Appointments Committee of the Cabinet (ACC) and notified by the Department of Personnel and Training (DOPT), Ministry of Personnel, Public Grievances and Pension (MOP).
• Tenure: Sanjay Malhotra’s tenure as RBI Governor begins on December 11, 2024, and will last for three years.

Roles and Responsibilities of the RBI Governor:

• Monetary Policy Formulation: The Governor is responsible for creating and executing policies that control inflation and foster economic growth, aiming to maintain monetary stability.
• Bank Licensing: The Governor oversees the issuance of licenses for new foreign and private banks, regulating the banking sector in India.
• Interest Rate Control: The Governor plays a key role in controlling interest rates, ensuring economic stability by managing minimum lending rates.
• Currency Management: The Governor is in charge of managing the issuance, circulation, and withdrawal of currency notes to maintain a stable supply of currency.
• Regulation of Co-operative Banks: The Governor ensures the stability and regulation of co-operative banks, regional rural banks, and local area banks across India.

Rbi:

• Founded: 1 April 1935, Kolkata
• Headquarters: Mumbai

Trump Picks Harmeet Dhillon As An Assistant Attorney General for Civil Rights

Harmeet Kaur Dhillon, an Indian-American lawyer, has been nominated by US President-elect Donald Trump as the Assistant Attorney General for Civil Rights at the Department of Justice. She is known for her strong advocacy for civil liberties, making bold statements on various issues, and her legal career.

Position and Nomination:

• Nominated as Assistant Attorney General for Civil Rights.
• Recognized for her extensive experience in civil rights advocacy and legal career.

Rank and report news

QS World University Rankings: Sustainability 2025 – IITs Lead the Charge in Sustainability

The third edition of the QS World University Rankings: Sustainability 2025 evaluates universities based on sustainability initiatives, including environmental impact, social responsibility, and governance.

India’s Notable Performance

IIT Delhi:

• Ranked 171st globally, up from 426th last year (a jump of 255 ranks).
• Recognized as the top Indian university in the sustainability rankings.

Key Factors for IIT Delhi’s Success

Sustainability Focus:

• Implementation of green campus initiatives.
• Cutting-edge research on sustainable development.
• Collaborative projects aimed at reducing carbon footprints and promoting clean energy.

Integration of Sustainability: Strong commitment to embedding sustainable practices within its academic programs and operational frameworks.

Kerala Ranks Among Top States for Employability in India

Kerala continues to excel in employability, ranking fifth among Indian states in the India Skills Report 2025, published by Wheebox in collaboration with AICTE, CII, and the Association of Indian Universities. With a strong employability rate of 71%, Kerala demonstrates exceptional talent, workplace inclusivity, and a balanced approach to education and skill development. The report also underscores India’s global leadership in AI skill penetration and highlights transformative trends in the workforce shaped by AI adoption.

Key Highlights for Kerala

• 18-21 Age Group Employability: Ranks 2nd nationally.
• B.E./BTech and Polytechnic Talent: Secures 3rd position in employable talent.

Top Cities: Thiruvananthapuram and Kochi excel in fostering computer and English skills and are preferred work locations.

India Skills Report 2025 Insights

State-wise Employability Leaders: Telangana (85.45%) tops the 18-21 age group, followed by Haryana and Maharashtra.

Skill Rankings: Kerala ranks 3rd in computer skills, with Telangana and Karnataka leading in critical thinking and numerical skills.

AI Skill Penetration: India leads globally in AI talent, with demand for 1 million AI professionals by 2026.

Kerala:

• Capital: Thiruvananthapuram
• Chief minister: Pinarayi Vijayan
• Governor: Arif Mohammed Khan

Defence news

India-Russia Defense Partnership Set to Sign $4B Radar System

India is set to finalize a significant USD 4 billion agreement with Russia to acquire an advanced long-range early warning radar system from Russia’s Voronezh radar series. This deal aims to enhance India’s air defence and missile detection capabilities, aligning with the “Make in India” initiative.

Technology:

Voronezh Series Radar:

• Tracks ballistic missiles and aircraft up to 8,000 kilometers.
• Extends India’s surveillance capabilities beyond its borders.
• Offers technology previously accessible only to global superpowers.

Location: The radar system will be installed in Chitradurga, Karnataka, known for its advanced defence and aerospace infrastructure.

Russia:

• Capital: Moscow
• Prime minister: Mikhail Mishustin

Science and tech news    

IIT Madras Completes 410-Meter Hyperloop Test Track

IIT Madras has completed a 410-meter-long Hyperloop test track, a first-of-its-kind project in India. The achievement, announced by Union Railway Minister Ashwini Vaishnaw, is part of a collaborative effort involving the Indian Railways, IIT Madras’ Avishkar Hyperloop team, and TuTr, a startup incubated at IIT Madras.

What is Hyperloop Technology?

Concept Origin: Proposed by Elon Musk in 2012, Hyperloop is a revolutionary transportation system.

Working Mechanism:

• High-speed travel through low-pressure tubes with vacuum-sealed environments, reducing air resistance and friction.
• Speeds can exceed 1,000 km/h, drastically reducing travel time over long distances.

Benefits of Hyperloop

• High Speed and Efficiency: Faster travel times than traditional modes.
• Energy-Efficient: Combines high speed with low energy consumption.
• Environmentally Friendly: Sustainable alternative to conventional transportation.
• Cost-Effective: Designed for low operational costs.
• Urban and Corridor Connectivity: Addresses congestion in urban areas and busy transit routes.

This milestone highlights India’s growing focus on advanced transportation technologies, paving the way for innovative, eco-friendly, and high-speed travel solutions.

Aditya L1 and Proba-3 to Unite for Solar Research in 2025

India’s Aditya L1 and the European Space Agency’s (ESA) Proba-3 missions are set to revolutionize solar research with joint observations starting in 2025. Aditya L1, operational since January 2024 from the Lagrange point (L1) 1.5 million km from Earth, launched in September 2023. Meanwhile, Proba-3, launched on December 5, 2024, is the first mission involving two satellites flying in formation to simulate a solar eclipse, facilitating detailed studies of the Sun’s corona.

Key Instruments

VELC (Aditya L1) and ASPIICS (Proba-3) utilize coronagraphs to study the Sun’s corona, ranging from 1.08 to 3 solar radii.

Collaborative Campaigns: Indian and ESA scientists planned synchronized observations in Chennai to enhance scientific output.

Proba-3 Progress

• Commissioning Phase: Initial calibrations underway in Belgium.
• March 2025: Observations start with the Digital Absolute Radiometer (DARA) for solar irradiance measurements.
• Early 2025: Satellites will separate for formation flying and advanced corona studies.
• Significance: These missions highlight international collaboration to advance solar research and provide unprecedented insights into the Sun’s corona.

European space agency:

• Headquarters: Paris, France
• Founded: 30 May 1975, Europe

Launch of Anna Chakra and SCAN Portals to Modernize India’s Public Distribution System (PDS) and Enhance Food Security

On December, 2024, Union Minister Pralhad Joshi launched two important initiatives aimed at modernizing India’s Public Distribution System (PDS) and improving the efficiency of food security mechanisms. These initiatives are part of the government’s broader strategy to enhance food security and streamline processes under the Ministry of Consumer Affairs, Food and Public Distribution (MoCAF&PD) and the Ministry of New and Renewable Energy (MNRE).

Anna Chakra Portal

• Objective: Optimize PDS logistics and supply chain.
• Purpose: ‘Anna Chakra’ is designed to optimize the logistics network of the PDS, which supports over 81 crore beneficiaries across India. The tool employs advanced algorithms to determine the most efficient routes for food grain distribution within the PDS network.
• Development: This portal was created in collaboration with the World Food Programme (WFP), Foundation for Innovation and Technology Transfer (FITT), and Indian Institutes of Technology (IIT) Delhi.
• Key Feature: The portal’s core function is based on the QKM (Quantity in Quintal x Distance in Kilometers) model, which has successfully reduced costs by 58 crores by optimizing food grain transport across the supply chain.

2. SCAN (Subsidy Claim Application for National Food Security Act) Portal

• Objective: Simplify and streamline subsidy claims under NFSA.
• Purpose: The SCAN portal is a single window platform that automates the process of subsidy claim submission, scrutiny, and approval under the National Food Security Act (NFSA) 2013.
• Functionality: It ensures a timely disbursement of subsidy funds to the state governments, reducing delays in subsidy release. The Department of Food and Public Distribution (DFPD) processes and pays the subsidy amounts through this platform.
• Benefits: By automating the end-to-end workflow, the SCAN portal helps improve transparency, minimize delays, and ensure more efficient processing of claims.

Summit news

“GI & Beyond 2024” Summit Showcases India’s Handloom and Handicraft Products on Global Stage

On November 25, 2024, the “GI & Beyond 2024” Summit was organized by the Office of the Development Commissioner for Handlooms and the Handloom Export Promotion Council (HEPC) in New Delhi. The summit aimed to showcase India’s Geographical Indication (GI) tagged handloom and handicraft products to a global audience. Union Minister Giriraj Singh inaugurated the event and distributed GI certificates to 10 artisans from various parts of India.

Earlier, on November 22, 2024, Union Minister of State Pabitra Margherita inaugurated the Diamond Jubilee celebrations of the World Crafts Forum (WCF) in New Delhi, paying tribute to Kamaladevi Chattopadhyay’s contributions to the formation of the World Crafts Council. The celebrations were held from November 22-24 in New Delhi and from November 25-27 in Srinagar, Jammu & Kashmir.

Ministry of Textiles (MoT) Leadership:

• Union Minister: Giriraj Singh (Constituency: Begusarai, Bihar)
• Minister of State (MoS): Pabitra Margherita (Rajya Sabha, Assam)

Important days

International Mountain Day 2024, Celebrating the Importance of Mountains on December 11

Every year on December 11, the world comes together to observe International Mountain Day, an initiative established by the United Nations (UN) in 2003. This day aims to promote awareness about the critical role mountains play in our environment and to emphasize the importance of sustainable mountain development across the globe. Mountains are not just geological formations; they are lifelines that sustain biodiversity, regulate the climate, and serve as a source of livelihood and spiritual solace for millions.

History

• Originated from Chapter 13 of Agenda 21 during the Earth Summit in 1992, titled “Managing Fragile Ecosystems: Sustainable Mountain Development.”
• Officially designated as International Mountain Day in 2003 by the UN to highlight the importance of safeguarding mountain ecosystems.

Theme for International Mountain Day 2024: “Mountain Solutions for a Sustainable Future – Innovation, Adaptation, and Youth”

National news

SC Grants Permanent Commission to Woman Army Officer

On December 9, 2024, the Supreme Court of India granted a permanent commission to Lt. Col. (a woman officer in the Army Dental Corps) who had been unfairly denied benefits given to her male counterparts. The Court’s decision underscores its commitment to promoting gender equality in the armed forces.

• Background: The appellant, a commissioned officer since 2008, was denied a third chance to apply for a permanent commission, unlike other officers in similar positions. While the Armed Forces Tribunal (AFT) had granted age relaxation to others, the appellant was excluded due to her non-participation in a previous case. The Court ruled that this exclusion was discriminatory and set aside the AFT’s decision.
• Court’s Observations: The Court emphasized that the appellant, being in a similar situation to her counterparts, should have automatically received the same benefits, including age relaxation. It referred to previous rulings, such as Amrit Lal Berry vs. Collector of Central Excise and K.I. Shephard vs. Union of India, stating that citizens should not be deprived of benefits that were extended to others in similar circumstances. The Court also pointed out that the government should have implemented these benefits without needing further legal intervention.
• Impact on Women in the Armed Forces: This ruling is part of a broader movement to ensure permanent commissions for all women in the Army. In a similar ruling from February 2024, the Supreme Court directed the Centre to grant permanent commissions to all female officers. The Court further ordered the government to comply with this directive by January 2025, emphasizing the need for timely implementation.

International news

Merriam-Webster Picks Polarization As Word of the Year 2024

Merriam-Webster has chosen polarization as the 2024 Word of the Year, reflecting a year defined by deep societal, cultural, and political divides. The word was selected based on a significant increase in searches and usage, capturing the growing tension and extremism across various domains in 2024.

Definition of Polarization:

• Meaning: Polarization refers to causing strong disagreement between opposing factions or groupings, often leading to extremes rather than consensus.
• Implication: It highlights a shift towards opposing extremes and a challenge in finding middle ground.

Context in 2024:

• U.S. Presidential Election: The contentious race between Kamala Harris and Donald Trump underscored the deep political divides, with voters expressing heightened concerns over ideological extremes.
• Broader Usage: The term was widely applied to describe divides in political ideologies, race relations, and societal issues, emphasizing the growing difficulty in bridging opposing views.

Cultural Usage: Polarization was also used in discussions on pop culture, such as controversies over Taylor Swift’s private jet use and the Olympics. Debates on celebrity memes, tech trends, and nepo baby discussions further illustrated this divide.

Historical Perspective: The term polarization has roots in the early 1800s, initially used in scientific contexts before being adopted to describe societal divides.

Top 10 Words of 2024:

1. Polarization
2. Demure
3. Fortnight
4. Totality
5. Resonate
6. Allision
7. Weird
8. Cognitive
9. Pander
10. Democracy

Dubai Breaks Record with World’s Largest Gold Bar, Weighing Over 300 KG

On December 7-8, 2024, Dubai unveiled the world’s largest gold bar, setting a new Guinness World Record. Weighing 300.12 kg (661 lb 10 oz) and valued at approximately $25 million (₹211 crore), the gold bar was created by the Emirates Minting Factory. The crafting process took 8 to 10 hours, with the bar adhering to Guinness standards.

Record-Breaking Gold Bar:

• Weight & Value: The bar weighs 300.12 kg and is valued at ₹211 crore ($25 million).
• Craftsmanship: Created by the Emirates Minting Factory, it took 8-10 hours to complete.
• Symbol of Excellence: This achievement highlights Dubai’s position as a global leader in the precious metals industry.

Public Display at Dubai Gold Souk Extension:

• The gold bar was displayed in a glass case outside the Emirates Minting Factory shop at the Dubai Gold Souk Extension.
• The public gathered in large numbers to capture photos and view the bar up close, making the event a historic moment for many.

Gold Market Context:

• Gold prices in India remained steady at ₹79,150 per 10 grams (99.5% purity).
• Dubai continues to lead in the global gold market, setting high standards for craftsmanship and trade.

Visitor Experience: The display of the world-record gold bar at the Dubai Gold Souk Extension provided a once-in-a-lifetime opportunity for visitors to see this monumental creation. The event solidified Dubai’s reputation as a luxury and trade hub.

State news

Bihar’s Sex Ratio Drops to 882: Government Acts Against Female Foeticide

Bihar has seen a concerning decline in its sex ratio at birth (SRB), now at 882 females per 1,000 males, down from 894 in 2022-23. This places the state among the worst performers in India regarding child gender ratio. In response, the state government has taken urgent action to address the issue, with a focus on enforcing the Pre-Conception and Pre-Natal Diagnostic Techniques (PC-PNDT) Act and launching awareness campaigns to combat female foeticide and improve gender equality.

Critical Statistics and Government Response:

• Decline in SRB: Bihar’s SRB has worsened, with specific areas like Vaishali, Bhojpur, and Saran showing the sharpest declines.
• Government Initiatives: The state has committed to stricter enforcement of the PC-PNDT Act and is implementing the Mukhyamantri Kanya Utthan Yojna, a comprehensive scheme aimed at supporting a girl child from birth through education, and promoting gender equality.
• Ministerial Commitment: Health Minister Mangal Pandey emphasized that female foeticide is both a moral and social issue, urging the community to value daughters equally to sons.

Awareness Campaigns and Law Enforcement:

• The government is prioritizing community engagement and mindset changes through mass awareness campaigns to celebrate the birth of girls.
• District-level Enforcement: District magistrates have been directed by the social welfare department to ensure strict adherence to the PC-PNDT Act, particularly in districts with significant SRB declines like Vaishali and Bhojpur.
• Key Officials’ Remarks: Additional Chief Secretary Harjot Kaur Bamhrah stressed the need for widespread sensitization to save the girl child and foster a cultural shift towards gender parity.

Bihar’s government is focusing on both law enforcement and community awareness to address the alarming drop in its sex ratio at birth and to prevent further gender imbalances in the state.

Bihar:

• Capital: Patna
• Chief minister: Nitish Kumar
• Governor: Rajendra Arlekar

PM Modi Launches LIC’s Bima Sakhi Yojana for Women Empowerment

On December 8, 2024, Prime Minister Narendra Modi launched the Bima Sakhi Yojana in Panipat, Haryana, a transformative initiative by Life Insurance Corporation (LIC) aimed at empowering women by integrating them into the insurance sector. The scheme focuses on training and enrolling women as career agents, providing them with financial independence and contributing to societal welfare.

Key Features of Bima Sakhi Yojana:

• Eligibility and Scope: The program is open to women aged 18-70, who have completed at least the 10th grade. LIC will offer training and financial support for three years to enable them to become successful career agents.
• Earnings and Opportunities: Women enrolled in the program are expected to earn an average of ₹15,000 monthly by selling approximately 24 policies annually.
• Financial Assistance: Selected candidates will receive stipends over three years—₹7,000 in the first year, ₹6,000 in the second year, and ₹5,000 in the third year—along with commissions based on their sales.

Socio-Economic Impact:

• The scheme aligns with key government initiatives such as Beti Bachao-Beti Padhao and Lakhpati Didi, promoting financial inclusion and social security for women.
• By empowering women as insurance agents, the program aims to strengthen household incomes, promote gender equality, and expand LIC’s reach into underserved areas, especially in rural regions.

Market and Policy Context:

• LIC’s Investment: LIC’s Chairman, Siddhartha Mohanty, announced an initial investment of ₹840 crores in the scheme’s first year, expecting a significant increase in premium income.
• Regulatory Reforms: With reforms allowing 100% FDI in insurance, LIC’s market share has grown from 58.50% to 61.07% during April-September 2024, strengthening its position in the industry.

Future Goals:

• The initiative aims to integrate at least one Bima Sakhi in every panchayat, thereby ensuring social security coverage for all.
• After the contract term, women trained under the program will have the opportunity to become permanent LIC agents, contributing to their long-term empowerment and broader national development.

The Bima Sakhi Yojana is a significant step towards the financial empowerment of women, aiming to transform the insurance sector and improve women’s socio-economic status across India.

Haryana:

• Capital: Chandigarh
• Chief minister: Nayab Singh Saini
• Governor: Bandaru Dattatreya

Defence news

INS Tushil Commissioned into Indian Navy

INS Tushil, a Russian-built guided missile frigate, was officially commissioned into the Indian Navy on December 8, 2024, at Kaliningrad, Russia. The commissioning ceremony was attended by Defence Minister Rajnath Singh, Chief of Naval Staff Admiral Dinesh K Tripathi, and other senior officials, marking a significant milestone in India-Russia naval cooperation.

Key Highlights:

• A Milestone in Naval Cooperation: The commissioning of INS Tushil underscores the growing strength of India’s naval capabilities, particularly in response to the increasing Chinese presence in the Indian Ocean.
• Part of Strategic Deal: INS Tushil is the first ship in a series of four stealth frigates under a 2016 deal between India and Russia, valued at USD 2.5 billion. This deal aims to bolster India’s maritime power.

Collaboration between India and Russia:

• Technology Integration: INS Tushil is an upgraded version of the Krivak III-class frigate under Project 1135.6, and incorporates 26% indigenous content. It features advanced technologies developed by Indian defense firms, including BrahMos Aerospace and Bharat Electronics.
• Strategic Significance: Defence Minister Rajnath Singh emphasized that this collaboration strengthens technological excellence between India and Russia, with future focus areas including artificial intelligence (AI), cyber security, and counter-terrorism.

INS Tushil’s Operational Capabilities:

• Specifications: The frigate weighs 3,900 tonnes and measures 125 meters in length, designed to provide enhanced stealth and stability.
• Strategic Role: INS Tushil will significantly enhance India’s naval capacity, enabling it to address increasing regional threats. The ship’s advanced design and capabilities will reinforce India’s maritime defense and ensure the security of critical trade routes in the Indian Ocean and key global maritime corridors.

INS Tushil’s commissioning marks an important step in strengthening India’s defense ties with Russia and significantly enhances the Indian Navy’s operational readiness in the face of growing regional maritime challenges.

Indian Navy: General Knowledge

• Founded Year: The Indian Navy was founded on October 2, 1934, as the Royal Indian Navy under the British colonial government. After India gained independence in 1947, it was renamed the Indian Navy.
• Current Head: The current Chief of the Naval Staff (CNS) of the Indian Navy is Admiral Dinesh K Tripathi, who took office on November 30, 2021.

Award news

Payal Kapadia’s Landmark Golden Globe Nomination

Indian filmmaker Payal Kapadia has made history by becoming the first Indian director to receive a Golden Globe nomination for Best Director (Motion Picture). Her critically acclaimed film All We Imagine As Light has not only earned her this prestigious nomination but also a nod for Best Motion Picture (Non-English Language) at the 82nd Golden Globe Awards. These historic nominations reflect the growing global recognition of Indian cinema and Kapadia’s exceptional talent as a storyteller.

Historic Golden Globe Nominations:

• Best Director (Motion Picture): Payal Kapadia becomes the first Indian director ever to be nominated for this prestigious category.
• Best Motion Picture (Non-English Language): All We Imagine As Light is also nominated for this category, showcasing its international appeal.

About the Film:

• All We Imagine As Light is an Indo-French co-production featuring actors Kani Kusruti, Divya Prabha, and Hridhu Haroon.
• The film tells the story of Prabha, a nurse grappling with personal struggles, and her roommate Anu, as they explore their desires during trip to a beach town.
• The film made history as the first Indian entry in the Cannes Film Festival competition section in 30 years and won the prestigious Grand Prix award.

Other Prestigious Awards:

• Best International Film at the New York Film Critics Circle.
• Best International Feature at the Gotham Awards 2024.

Golden Globe Best Director Nominees:

• Jacques Audiard for Emilia Perez.
• Sean Baker for Anora.
• Edward Berger for Conclave.
• Brady Corbet for The Brutalist.
• Coralie Fargeat for The Substance.

Telugu Woman Banker Honored as Rising Star in Banking 2024

Bharati Kolli, a 43-year-old woman from Vizianagaram district in Andhra Pradesh, has been honored as one of the Rising Star Women Leaders of Banking for 2024 by the prestigious women’s group, Women We Admire. This recognition highlights her outstanding contributions to the banking sector, particularly in the field of data management.

Currently serving as the Director of the Data Management Office at the Industrial and Commercial Bank of China (ICBC) at its New York headquarters, Bharati Kolli’s expertise and leadership in data management have earned her significant accolades. Her work continues to inspire many, reinforcing her position as a trailblazer in the banking and financial services industry.

Career and Achievements

• Bharati Kolli is acknowledged for her expertise in data and analytics, specializing in finance, operations, risk, and regulatory compliance.
• She has worked with several Fortune 100 clients, developing solutions that enhance growth, cost savings, risk management, and regulatory compliance.
• Bharati has demonstrated strategic thinking and leadership in her role, excelling in client-facing roles and managing communications with C-suite executives.
• Her journey includes over 10 years of experience in big-4 management consulting, where she led significant data initiatives for mid-to-large-sized financial institutions.
• She played a key role in fostering a data-driven culture within financial institutions.

Important days

World Human Rights Day 2024: Date, History, Significance & Theme

World Human Rights Day is celebrated every year on December 10, serving as a powerful reminder of the global commitment to uphold equality, freedom, and human dignity. Human rights form the foundation of a fair and just society, acting as a preventative, protective, and transformative force for good. On this day, individuals, communities, and nations come together to reaffirm their dedication to building a better, more equitable future.

History of World Human Rights Day:

The history of World Human Rights Day is deeply tied to the Universal Declaration of Human Rights (UDHR), adopted by the United Nations General Assembly in 1948.

• Adoption of the Universal Declaration of Human Rights (UDHR):
• On December 10, 1948, the UN General Assembly adopted the UDHR, marking a significant milestone in the global pursuit of justice and equality. This declaration is the first comprehensive global statement of human rights, outlining fundamental freedoms to which every person is entitled, regardless of race, religion, gender, or nationality.
• Official Recognition of Human Rights Day:
• The UN General Assembly formally established Human Rights Day on December 4, 1950, through Resolution 423 (V). This resolution invited member states and organizations to celebrate the day in a manner that they felt was most appropriate. The purpose of this day is to honor the adoption of the UDHR and remind the world of its collective responsibility to uphold these human rights principles.

World Human Rights Day 2024 Theme: The theme for World Human Rights Day 2024 is:
“Our rights, our future, right now.”

This theme emphasizes the urgency of protecting human rights and ensuring that every person, regardless of their background, can access the rights and freedoms guaranteed under international law. It calls for collective action to safeguard human rights in the present and shape a better future for all.

Sports news

Aarit Kapil: Young Chess Prodigy Makes History by Defeating a Grandmaster

Aarit Kapil, a 9-year-old chess prodigy from Delhi, has etched his name in history by becoming the youngest Indian to defeat a chess Grandmaster (GM). In a thrilling game during the ninth round of the KIIT International Open Tournament, Aarit triumphed over Raset Ziatdinov, a 66-year-old Grandmaster from the United States. Aarit achieved this feat at the remarkable age of 9 years, 2 months, and 18 days, setting a national record and becoming the third-youngest player globally to defeat a Grandmaster under classical time control.

Historical Context:

• Youngest Indian to Beat a GM: Aarit is now the youngest Indian to ever defeat a chess Grandmaster.
• Global Ranking: He is the third-youngest player globally to defeat a GM under classical time control.
• World Record Holder: The current world record holder for the youngest player to defeat a GM is Ashwath Kaushik, an Indian-origin chess player from Singapore, who achieved this at 8 years, 6 months.

The Game Against Raset Ziatdinov:

• Opponent’s Profile: Ziatdinov, although a seasoned Grandmaster, was 66 years old and past his competitive prime.

Game Dynamics:

• Opening Phase: Ziatdinov initially held a positional advantage, using a better pawn structure.
• Aarit’s Resilience: Despite being in a slightly disadvantageous position, Aarit displayed incredible resilience and strategic thinking.
• The Turning Point: After 63 moves, Ziatdinov made a critical error, losing a knight.
• Aarit’s Capitalization: Aarit seized the opportunity, converting the mistake into a decisive advantage, and won the game.

Kush Maini Makes History with F2 Constructors’ Championship Win

Kush Maini, an Indian racing driver, made history by becoming the first Indian to win the FIA Formula 2 (F2) Constructors’ World Championship. This monumental victory was secured with Invicta Racing and marked the culmination of a remarkable year for Maini, who also made history earlier by becoming the first Indian to claim an F2 pole position.

Key Highlights of Maini’s F2 Championship Success:

1. Historic Firsts for India:

1. First Indian to Win F2 Constructors’ Championship: Maini’s victory with Invicta Racing was a groundbreaking achievement in Indian motorsport.
2. First Indian to Secure an F2 Pole Position: Earlier in the season, Maini made history by becoming the first Indian to claim a pole position in the F2 series.
3. Maini’s Contribution to Invicta Racing’s Success:

2. Maini’s strong performances played a crucial role in Invicta Racing’s title win, with five podium finishes and a race victory in Hungary.
3. His consistency and pivotal contributions were essential in securing the Constructors’ Championship for Invicta Racing, who finished the season with a 34.5-point lead over Campos Racing, Maini’s former team.
4. Season Performance and Key Moments:

3. Despite facing several challenges throughout the season, Maini demonstrated resilience and skill, consistently finishing in the points.
4. He secured five podiums throughout the season, including a memorable victory in Hungary.
5. Pole Position in Jeddah: One of his standout achievements was setting a pole position at the Jeddah Grand Prix, which helped set the stage for Invicta Racing’s dominant campaign.

Maini’s achievement not only highlights his talent and determination but also strengthens India’s presence in the global motorsport arena. His success serves as an inspiration for future Indian drivers aspiring to make their mark in Formula racing.