NATIONAL UPDATES:
1. Hyundai Motor Group ties up with IITs to advance battery, electrification research: Hyundai Motor Group has tied up with three IITs to establish a collaborative research system in the fields of batteries and electrification entailing an investment of USD 7 million over five years.The South Korean group, which has presence across multiple segments including mobility, has tied up with IIT Delhi, IIT Bombay and IIT Madras.Hyundai Motor Group plans to invest around USD 7 million over five years, from 2025 to 2029, to jointly conduct battery and electrification-related research with the IITs.As part of the collaboration, the Hyundai Center of Excellence (CoE), will be set up within IIT Delhi and would operate through sponsorships from Hyundai Motor Group.
2. Government Launches Training Program on Chemical and Petrochemical Industrial Safety: As part of the Viksit Bharat@2047 initiative, the Department of Chemicals and Petrochemicals has introduced its first training program on “Chemical and Petrochemical Industrial Safety” in Ahmedabad, Gujarat.The program, themed “Safety First, Sustainability Always: Protecting People and Planet,” was held at the Central Institute of Petrochemical Engineering & Technology (CIPET): Institute of Petrochemicals Technology (IPT).This program is part of a series of training initiatives organized by the Department of Industrial Chemical Safety to enhance safety and security across all identified Major Accident Hazard (MAH) units in the country. Currently, there are 2,393 such units. Over the next five years, a total of 48 training sessions will be conducted to address the needs of these units, with eight scheduled for the remainder of the current financial year.
3. DRI to celebrate 67 yrs of service: Fortifying India’s economic frontlines: On December 4, the Directorate of Revenue Intelligence (DRI), India’s premier investigative agency tasked with safeguarding the nation’s economic interests, celebrates its 67th year of establishment.Although the genesis of DRI can be traced to 1953 with the formation of the Central Revenue Intelligence Board, DRI was carved out as a specialised agency in 1957, with the primary objective of curbing the smuggling of goods, particularly contraband like gold, drugs, and other prohibited items.Operating under the Department of Revenue (DoR) until June 1970, DRI was placed under the Ministry of Home Affairs for a brief period before being assigned to the Cabinet Secretariat.In 1977, it was once again brought under the Ministry of Finance (DoR), where it continues to function today.
4. Bharatiya Vayuyan Vidheyak, 2024: A new bill, the Bharatiya Vayuyan Vidheyak, 2024, was introduced by Union Aviation Minister Kinjarapu Rammohan Naidu. This bill replaces the outdated Aircraft Act of 1934, which was passed in the Lok Sabha in August 2024. The bill responds to recommendations from the International Civil Aviation Organization (ICAO). The bill aims to resolve inconsistencies in current aviation laws, which seeks to create a clear regulatory framework. This clarity will promote ease of flying for passengers. Additionally, the new legislation aims to encourage foreign investment in the aviation sector. It aligns India’s aviation rules with global standards.
INTERNATIONAL UPDATES:
1. Supply chain council formed under Indo-Pacific agreement with US as Chair, India Vice-Chair: India signed the Supply Chain Resilience Agreement (Pillar-II) in November 2023 under the Indo-Pacific Economic Framework for Prosperity (IPEF), a 14-member plurilateral grouping in the region.The Agreement seeks to strengthen the supply chain crucial for national security and economic stability. The Agreement came into force on February 24, 2024.Under the Agreement, a Supply Chain Council (SCC) has been set up with the US as Chair and India as Vice-Chair.IPEF partners represent approximately 40 per cent of the global GDP, and 28 per cent of global goods and services trade, making it crucial for international trade dynamics.
2. China’s first atmospheric monitoring station in Antarctica begins operations: China has officially inaugurated its first overseas atmospheric background station in Antarctica, marking a major milestone in global climate research.The National Atmospheric Background Station began operations, offering critical data to support international efforts in addressing climate change.The station will carry out continuous, long-term monitoring of atmospheric components in the Antarctic. Its primary goal is to track shifts in concentrations of atmospheric elements and provide an accurate depiction of the region’s atmospheric composition.The station features a cutting-edge monitoring system encompassing seven meteorological categories, including ozone and aerosol measurements. This initiative builds on China’s existing network of nine national atmospheric background stations, with additional pilot stations beginning trial observations earlier this year.
3. Chennai to host the World Maritime Conference 2024: The World Maritime Conference 2024 will hold in Chennai from the 4th to 6th December. The Director General of Shipping Shyam Jagannathan will be the Guest of Honour.Internationally reputed speakers and panellists will discuss the future of the Global maritime scenario. The US, UK, Germany, Spain, and Asia Pacific Countries will participate in the discussions.This conference will be conducted in India after 15 years and will discuss various futuristic developments and present challenges in the Maritime World. The conference will be attended by more than 300 delegates from all over the World.
4. 4 December – International Day of Banks: International Day of Banks is observed every year on December 4.The day draws attention to the key functions that the banking system performs for the sustainable development of the countries and the globe as a whole. It commemorates the 2015 United Nations General Assembly resolution 74/245 which was passed on December 19, 2019.Theme 2024 – Empowering Sustainable Development Through Finance.The banks play an essential role in financial SDG projects in areas that include decent work and economic growth (SDG 8), business innovation (SDG 9), reduced inequality (SDG 10), and partnership for the delivery of the goals (SDG 17).It is common during financial crises for development banks to come in and provide all the funding that the private sector may lack.
OTHER UPDATES:
DEFENCE
1. India-UK 2+2 Foreign and Defence Dialogue: India and the UK recently convened the second 2+2 Foreign and Defence Dialogue in New Delhi, aimed to enhance their Comprehensive Strategic Partnership. High-level officials from both nations participated in the discussions. Advancing innovation in emerging technologies was brought into light. Both sides recognised the importance of collaboration in this field. Joint efforts could lead to technological advancements. Clean energy initiatives were discussed. Both countries seek to promote sustainable practices. Health cooperation was also a key topic, aiming to improve public health outcomes.
BANKING AND FINANCE
1. SBI Mutual Fund Unveils SBI Quant Fund: SBI Mutual Fund has launched the SBI Quant Fund, an open-ended equity scheme designed around a quant-based investing approach.The scheme aims to generate long-term capital appreciation through equity and equity-related instruments selected using an in-house quant model.Additionally, the scheme may invest up to 20% in mutual fund units and 35% in overseas securities, including ADRs, GDRs, ETFs, and foreign equity.The fund will be managed by Sukanya Ghosh and Pradeep Kesavan (dedicated fund manager for overseas securities).
2. Mahindra Finance and Magma HDI General Insurance Partner to Boost Financial Access for Emerging India: Mahindra Finance, a leading non-banking financial company (NBFC), has entered into a strategic corporate agency agreement with Magma HDI General Insurance Company, a rising name in India’s general insurance sector.This collaboration aims to provide a diverse range of tailor-made insurance solutions to Mahindra Finance customers, spanning motor and non-motor segments.By leveraging Mahindra Finance’s extensive rural reach and Magma HDI’s insurance expertise, the partnership aims to enhance customer experience etc.MD & CEO of Mahindra Finance- Raul RebelloMD & CEO of Magma HDI General Insurance – Rajive Kumaraswami
3. Over 43.30 lakh accounts opened under Mahila Samman Savings Certificate Scheme till Oct 31: The Mahila Samman Savings Certificate Scheme (MSSC) was launched in March 2023 exclusively for women and minor girls to promote financial independence by allowing attractive interest rates and to help achieve objectives of financial inclusion set by the government.In a written response to a question in Rajya Sabha, Union Minister of State for Finance Shri Pankaj Chaudhary said that 43,30,121 accounts have been opened under the scheme as of October 10, 2024.The scheme was launched by the Government to promote financial independence of the woman of the country by allowing attractive rate of interest and to also help in achieving objectives of financial inclusion as set by Government of India.
AWARDS AND HONOURS
1. Bharat Forge honoured with IGBC Green Champion award: Bhrat Forge Ltd., India’s leading manufacturing powerhouse and a global provider of high-performance, innovative components, has been honoured with the prestigious IGBC Green Champion Award at the Green Building Congress 2024, held at the Bangalore International Exhibition Centre in Bengaluru.This recognition celebrates Bharat Forge’s ground breaking efforts in transforming villages into IGBC-certified Green Villages.As part of its CSR initiatives, Bharat Forge has driven remarkable advancements across 108 villages, focusing on areas such as drinking water availability, reservoirs, irrigation infrastructure, healthcare, modern educational facilities, organic farming, livestock management, biodiversity conservation, rainwater harvesting, and energy-efficient solutions.
2. Nurse Maria Victoria Juan From Philippines Wins the Prestigious Aster Guardians Global Nursing Award 2024: Nurse Maria Victoria Juan from Philippines, a Consultant at Philippines Army Health Services and Colonel, Reserve Force of the Armed Forces of the Philippines, has been honoured with of the Aster Guardians Global Nursing Award 2024.She was awarded USD 250,000 at a prestigious award ceremony held in Bengaluru, India.Launched in 2021, the Aster Guardians Global Nursing Award recognizes the critical role of nurses in healthcare. This year, over 78,000 applications were received from 202 countries, marking a 50% increase from 2023.
No comments:
Post a Comment