NATIONAL UPDATES:
1. Delhi airport becomes India’s first airport to connect 150 destinations: The New Delhi airport has become the first airport in India to connect 150 destinations. Notably, DIAL, operates and manages the IGI Airport in New Delhi.As per DIAL, Thai AirAsia X launched direct flights between Delhi and Bangkok-Don Mueang (DMK), marking the 150th destination connected to Delhi Airport.The ongoing induction of wide-body aircraft by Indian carriers is set to transform Delhi Airport into a super-connector hub, reinforcing its position as a leading choice for international and long-haul travel.
2. CCI approves the acquisition of certain stake of Speed JVco S.à r.l. (Target) by Ramon Investments Pte. Ltd. (Acquirer): The Competition Commission of India has approved the acquisition of certain stake of Speed JVco S.à r.l. (Target) by Ramon Investments Pte. Ltd. (Acquirer). The Proposed Combination involves the acquisition of certain stake of the Target by the Acquirer.Acquirer is an investment holding company and does not engage in any business operation other than holding investments. It is an indirect wholly owned subsidiary of Temasek Holdings (Private) Limited (Temasek).Temasek is an investment company headquartered in Singapore. Temasek’s global portfolio covers a broad spectrum of industries including transportation; financial services; telecommunications,media & technology; consumer & real estate; life sciences & agri-food; and multi-sector funds.
3. PM Modi inaugurates projects worth ₹46,300 crore in Rajasthan: Prime Minister Narendra Modi has inaugurated and laid the foundation stone of 24 projects related to power, road, railway and water worth more than Rs 46,300 crore in Jaipur.He inaugurated 9 projects worth more than Rs 11,000 crore, which include 7 projects of the Central Government and 2 projects of the State Government.These projects also include the Parvati, Kalisindh, Chambal Link Project, which is important for Rajasthan and Madhya Pradesh.The MOA for this project was signed between Madhya Pradesh and Rajasthan in the presence of the Prime Minister.
4. RBL Bank Reappoints R Subramaniakumar as MD & CEO for 3 Years: RBL Bank’s Board of Directors has approved the reappointment of R Subramaniakumar as the Managing Director and Chief Executive Officer (MD & CEO) for a further period of three years, effective June 23, 2025.
The reappointment is subject to approval from the Reserve Bank of India (RBI).The bank confirmed that it will seek regulatory approval by submitting an application to the RBI under Section 35B of the Banking Regulation Act, 1935.Subramaniakumar, who was initially appointed as MD & CEO in June 2022, became the second public sector banker after Prashant Kumar to head a private sector bank.
INTERNATIONAL UPDATES:
1. Assam CM attends Bhutan’s 117th National Day: Assam Chief Minister Himanta Biswa Sarma attended Bhutan’s 117th National Day celebration on 17 December 2024 at Thimphu, the capital of Bhutan.Assam shares an international boundary with Bhutan, and the Himanta Biswa Sarma visit is intended to strengthen the cultural and regional ties between Bhutan and Assam.
Assam, Arunachal Pradesh, West Bengal and Sikkim share a land border with Bhutan. India shares a 699 km long international boundary with Bhutan.Every year, 17th December is observed as a National Day in Bhutan. This day marks the coronation of the first King of Bhutan, Druk Gyalpo Ugyen Wangchuck, on December 17, 1907.
OTHER UPDATES:
DEFENCE
1. Gati Shakti Vishwavidyalaya and Indian Navy sign MoU for Logistics related Education, Research and Training: Gati Shakti Vishwavidyalaya, Vadodara has signed an MoU with the Indian Navy in New Delhi. The MoU aims at enhancing logistics-related education, research, and training for the Indian Navy.The collaboration is set to strengthen the Indian Navy’s logistical framework by focusing on supply chain management, multimodal transportation, and sustainability in logistics. It also aligns with national development initiatives such as the PM Gati Shakti National Master Plan 2021 and the National Logistics Policy 2022.The MoU facilitates the exchange of expertise and case studies in areas such as AI applications, predictive analytics, and blockchain technology to elevate logistics practices.
SPORTS
1. Riya Shirish Thatte clinches Gold medal in Women’s 25m Pistol Final of 67th National Shooting Championship Competitions: In Shooting, Riya Shirish Thatte of Aurangabad has clinched the gold medal in the women’s 25m pistol final of the 67th National Shooting Championship Competitions in New Delhi.She defeated Punjab’s Simranpreet Kaur Brar 7-2 in a shoot-off after both had tied at 31 hits in the eight series of five-shots decider. This is Riya’s first senior national title.Olympian and former Asian Games champion Rahi Sarnobat was third with 25 hits.The shotgun and pistol competitions of the National Shooting Championship are being held in New Delhi, while Bhopal is holding the rifle nationals.
2. Hardik Pandya most Searched Indian Sportsperson: Indian cricketer Hardik Pandya was the most searched Indian sportsperson across the globe, as per Google Year in Search 2024, ranking seventh among the most searched sportspersons world-wide.It has been a career-defining year for Hardik Pandya, who experienced the extreme highs and lows of sports in a matter of months.The IPL was the top trending overall search in India ahead of the T20 World Cup. The Olympics (5th), Pro Kabaddi League (9th) and Indian Super League (10th) were the other sporting events present in the top 10 overall trends.In sports trends in India, the IPL, T20 World Cup and the Olympics occupied the top three slots.Five of the top 10 trending people in India were sportspersons – Vinesh Phogat (1st), Hardik Pandya (4th), Shashank Singh (6th), Abhishek Sharma (9th) and Lakshya Sen (10th).
SCIENCE AND TECHNOLOGY
1. C-DOT and Silizium Circuits signs agreement for “Design and Development of LEO Satellite Components and GNSS RF Front End ASIC” : The Centre for Development of Telematics (C-DOT), the premier Telecom R&D centre of the Department of Telecommunications (DoT), GoI has signed an agreement with Silizium Circuits Pvt Ltd a fabless Semiconductor IP & SoC Startup under FABCI (Fabless Chip Design Incubator) IIT Hyderabad for the “Design and Development of LEO Satellite Components, and GNSS RF Front End ASIC”.The agreement is signed under the Telecom Technology Development Fund (TTDF) scheme of the Department of Telecommunications, Government of India.This scheme, designed to fund Indian startups, academia, and R&D institutions, is a crucial enabler for designing, developing, and commercializing telecommunication products and solutions.It aims to enable affordable broadband and mobile services, playing a significant role in bridging the digital divide across India.
BANKING AND FINANCE
1. WPI inflation falls to 3-month low of 1.89% in November on softer food Prices: Wholesale price index (WPI)-based inflation hit a three-month low of 1.89 per cent in November 2024 from 2.4 per cent recorded in October 2024.This fall in WPI was largely due to the softening of primary food inflation, which moderated to 8.63 per cent in November 2024 compared to 13.54 per cent in October 2024.For the April-November 2024 period, WPI inflation stood at 2.1 per cent as against a contraction of 1.29 per cent inthe same period last year.
2. RBI’s Foreclosure Guidelines on MSME Loans Implications for NBFCs: The Union Budget 2024 incorporates numerous initiatives for MSMEs, particularly for manufacturing units, to boost the sector’s long-term growth and profitability.One of these initiatives is the Credit Guarantee Scheme, where MSMEs in manufacturing can access collateral-free loans with a guarantee of up to INR 100 crore, shared Jugal Mantri, CEO, Anand Rathi Global Finance, in an exclusive interaction with Srajan Agarwal of Elets News Network (ENN).In the recent MPC meeting of the RBI, it was stated that banks and NBFCs cannot levy foreclosure charges or pre-payment penalties on MSMEs. A draft circular on this matter is also expected to be issued for public consultation.As per the present RBI guidelines, NBFCs are not permitted to charge any pre-payment penalties or foreclosure charges on floating-rate term loans given to Individual borrowers for nonbusiness purposes.
3. ₹12.3 lakh crore: Indian banks’ loan write-off in past 10 years: Indian commercial banks wrote off Rs 12.3 lakh crore in loans between the 2014-15 and 2023-24 financial years, according to government data presented in Parliament.Public sector banks accounted for Rs. 6.5 lakh crore of these write-offs in the last five years (FY20-24).Write-offs peaked at Rs. 2.4 lakh crore in FY19 following an asset quality review. They dropped to Rs. 1.7 lakh crore in FY24, representing 1% of the total outstanding bank credit. Public sector banks hold a 51% share of new loans, down from 54% in FY23.As of September 30, 2024, gross non-performing assets (NPAs) for public sector banks were ₹3,16,331 crore (3.01% of outstanding loans), and ₹1,34,339 crore (1.86% of outstanding loans) for private sector banks.State Bank of India wrote off ₹2 lakh crore during the ten-year period, while Punjab National Bank wrote off ₹94,702 crore. Public sector banks wrote off ₹42,000 crore in the first half of the current fiscal year.
4. LazyPay Unveils ‘LazyPay EMI’ to Simplify High-Value Purchases: LazyPay, a leading digital financial services provider by PayU, has launched ‘LazyPay EMI’ in partnership with its partner lender, PayU Finance.This innovative solution is designed to make high-value online purchases more affordable and accessible for consumers across India.By eliminating the need for a credit card, the feature offers a hassle-free way for users to finance their purchases.Consumers can finance purchases between Rs. 5,000 to Rs. 1 lakh with flexible repayment options ranging from 3 to 12 months. This launch reinforces LazyPay’s commitment to providing a streamlined checkout experience across a broader range of merchants and consumers.
AWARDS AND HONOURS
1. Ayodhya’s Ram Temple honored with the prestigious ‘Sword of Honour’ for safety excellence: The ‘Ram Temple project’ of the Shri Ram Janmaboomi Temple in Ayodhya has been awarded the ‘Sword of Honour’ by the British Safety Council.This award was one of the highest recognitions in safety management and that the British Safety Council evaluates the safety processes, practices, and on-site activities during its audits, and only those who receive a five-star assessment were eligible for the ‘Sword of Honour’ award.Larsen and Toubro, the company responsible for the construction of the temple, was also awarded a ‘Golden Trophy’ by the National Safety Council for its safety measures during the construction process. The temple has been built under close coordination between Larsen and Toubro and Tata Consulting Engineers, with effective supervision by the Construction Committee of Shri Ram Janmbhoomi Teerth Kshetra Trust.
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