Daily GK Update- 24th Dec, 2021

 

NATIONAL UPDATES:

 

1. PM Modi lays foundation stone of Ganga Expressway in Uttar Pradesh: Prime Minister Narendra Modi has laid the foundation stone of Ganga Expressway in Shahjahanpur, Uttar Pradesh. PM Modi also addressed a rally at Railway Ground, Rouza on the occasion. After completion of work, it will become the longest expressway of Uttar Pradesh. It will connect the western and eastern regions of the state. It starts near the Bijauli village in Meerut. It will extend till near the Judapur Dandu village in Prayagraj. About the Ganga Expressway:

(1) Ganga Expressway is a 594 Km long Expressway. It will be built at a cost of over Rs 36,200 crore.

(2) It will pass through Meerut, Hapur, Bulandshahr, Amroha, Sambhal, Budaun, Shahjahanpur, Hardoi, Unnao, Rae Bareli, Pratapgarh and Prayagraj districts.

(3) 35 Km long airstrip for emergency take-off and landing of Air Force planes will also be constructed on the Expressway in Shahjahanpur.

 

2. Union cabinet approves Rs 76,000 crore push for semiconductor manufacturing: Union Cabinet approved a Rs 76,000-crore production linked incentive (PLI) scheme for boosting semiconductor and display manufacturing in India. With this, the total amount of production linked incentive (PLI) announced for the electronics sector increase to Rs 2.30 lakh crore.

About the scheme: This scheme was approved in order to position India as a global hub for hi-tech production, as well as to attract large chip makers. It would also strengthen India’s ambitions to be self-reliant in electronics manufacturing and bring huge investments. The government will also set up an independent ‘India Semiconductor Mission (ISM)’, for driving the long-term strategies to develop a sustainable semiconductor and display ecosystem in India.

Under Semiconductor Scheme: Under the scheme, the government has lined up incentives for companies engaged in silicon semiconductor fabs, compound semiconductors, display fabs, sensors fabs, silicon photonics, semiconductor packaging and semiconductor design. With the launch of this scheme, the government expects investments of about Rs 1.7 lakh crore and 1.35 lakh jobs in the upcoming four years.

 

3. ISRO signed six agreements with four countries for launching foreign satellites: The Indian Space Research Organisation (ISRO) has signed six agreements with four countries for launching foreign satellites during 2021-2023. About 132 million Euros would be earned through the launching of these foreign satellites on a commercial basis. The ISRO-Indian space agency, founded in 1969 to develop an independent Indian space program. Minister of State for Atomic Energy and Space Dr Jitendra Singh has said that ISRO has launched a total of 342 satellites from 34 countries since 1999. ISRO through its commercial arm, New Space India Limited (NSIL), has been launching satellites belong to other countries from Polar Satellite Launch Vehicle (PSLV). Total 124 indigenous satellites have been put into Earth’s orbit including 12 student satellites.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

 

4. A book title “Rewinding the first 25 years of MeitY! by SS Oberoi: The book titled ‘Rewinding of First 25 years of Ministry of Electronics and Information Technology’ authored by S S Oberoi, the former adviser at the Ministry of Electronics and Information Technology (MeitY) was launched by Ajay Prakash Sawhney, Secretary of MeitY. The book consists of life experience, challenges working as an advisor under the MeitY. He was the first head of the Software Development Agency and the first adviser of Information Technology.

 

5. Venkaiah Naidu released Telugu book titled ‘Gandhi Topi Governor’: Vice President of India M Venkaiah Naidu has released the Telugu book titled ‘Gandhi Topi Governor’ by Padma Awardee Dr Yarlagadda Lakshmi Prasad, Chairman, Official Language Commission, Andhra Pradesh. The book chronicles the life of Barrister Idpuganti Raghavendra Rao. I R Rao was a prominent freedom fighter, Legislator and the Governor of the Central Provinces in the British Administration.

 

6. National Consumer Rights Day: 24th December: National Consumer Rights Day is observed every year on December 24. On this day in 1986, the Consumer Protection Act 1986 received Presidential assent and thus came into force. The Act aims to provide consumers with effective safeguards against different types of exploitation, such as defective goods, deficiency in services and unfair trade practices.

World Consumer Rights Day: People often get confused between World Consumer Rights Day and National Consumer Rights Day. While both have the same purpose, they are observed on different dates. World Consumer Rights Day is celebrated annually on March 15.

History of National Consumer Rights Day: The National Consumer Rights Day was observed for the first time in 1986 under the Consumer Protection Act. It’s different from World Consumer Day, which is celebrated annually on March 15. The Consumer Protection Act came into force in 1986. In 2019, the Consumer Protection Act 1986 was revised. Later, the Ministry of Consumer Affairs, Food and Public Distribution announced the CPA 2019 bill put to effect on July 20, 2020.

 

INTERNATIONAL UPDATES:

 

1. Karl Nehammer sworn in as Chancellor of Austria: Karl Nehammer was sworn in as new Austria’s chancellor by Alexander Van der Bellen, President of Austria in a ceremony in Hofburg Palace, Vienna, Austria. He is succeeding the career diplomat Alexander Schallenberg who took charge as chancellor in October 2021. He is the 3rd person to hold the role of Austria’s Chancellor in the last two months. Nehammer, from the ruling conservative Austrian People’s Party (ÖVP), was formerly the country’s interior minister.

Karl Nehammer: The Vienna-born Nehammer worked in the army for several years. He then started working as a communications adviser before becoming a politician in 2017. He was made interior minister in January 2020. While he was in office, Austria experienced its first Islamist terrorist attack, in which four people were killed last November.

Note: Austria Capital: Vienna; Austria Currency: Euro; Austria President: Alexander Van der Bellen.

 

OTHER UPDATES:

 

SPORTS

 

1. India won 16 medals in Commonwealth Weightlifting Championship 2021: India concluded the Commonwealth Weightlifting Championships 2021 with 16 medals – 4 Gold, 7 Silver, and 5 Bronze, held at Tashkent, Uzbekistan. Bindyarani Devi was India’s only medallist at the World Weightlifting Championships 2021, that was also held parallelly at Tashkent.

South Korea’s Son Young-hee won the gold medal at the world championships with an overall lift of 282kg (122+159). New Zealand’s David Liti won the gold medal for a total of 407kg (176+231) followed by Pakistan’s Muhammad Nooh Dastgir Butt, who lifted 390kg (165+225).

India’s Medal Winners:

 

Gold medal		Silver medal
Jeremy Lalrinnunga (67kg) (Men)		Guru Raja (61kg) (Men)
Achinta Sheuli (73kg) (Men)		Lovepreet Singh (109kg) (Men)
Ajay Singh (81kg) (Men)		Jhili Dalabehera (49kg) (Women)
Purnima Pandey (+87kg) (Women)		S Bindyarani Devi (55kg) (Women)
		Hazarika Popy (59kg) (Women)
		Harjinder Kaur (71kg) (Women)
Bronze medal		Punam Yadav (76kg) (Women)
Vikas Thakur (96kg) (Men)
Gurdeep Singh (+109kg) (Men)
Lalchhanhimi (71kg) (Women)
R Arockiya Alish (76kg) (Women)
Anuradha Pavunraj (87kg) (Women)

 

BANKING AND FINANCE

 

1. RBI allowed SFBs as Agency Bank to conduct Govt Business: Reserve Bank of India, in consultation with the Department of Financial Services, the Ministry of Finance, has decided to make the Scheduled payments banks and scheduled small finance banks (SFBs) eligible to conduct Government agency business. In May this year, RBI has revised the existing guidelines on ‘Appointment of Scheduled Private Sector Banks as Agency Banks of RBI’ for authorising Scheduled Private Sector Banks as agency banks of RBI for conducting govt business (Central and/or State). Thus, any payment bank or small finance bank which intends to undertake govt agency business could be appointed as an agent of RBI only upon execution of an agreement with RBI and also in compliance with the regulatory framework prescribed for those banks.

Note: Reserve Bank of India Founded: April 1, 1935; Reserve Bank of India Headquarters: Mumbai, Maharashtra; Reserve Bank of India Governor: Shaktikanta Das.

 

BUSINESS AND ECONOMY

 

1. Unsoo Kim appointed as MD of Hyundai Motor India Limited: Hyundai Motor Company has appointed Unsoo Kim as the Managing Director (MD) of Hyundai Motor India Limited (HMIL), starting from 1st January 2022. He will replace Seon Seob Kim (SS Kim), who will lead the Global Operations Division in Hyundai headquarters in Seoul, South Korea. HMIL, a wholly-owned subsidiary of HMC is India’s first smart mobility solutions provider and the number one car exporter in India. He played a key role in positioning the company as a smart mobility solutions provider and bringing Internet-enabled connected cars and kick-starting the electric mobility journey in India with the launch of Kona, an all-electric SUV.

Note: Hyundai Motor Company Headquarters: Seoul, South Korea.

 

2. Mohit Jain Elected As New President Of Indian Newspaper Society: Mohit Jain of The Economic Times has been elected President of The Indian Newspaper Society for the year 2021-22. He succeeds L. Adimoolam of Health & The Antiseptic. The 82nd Annual General Meeting of the Indian Newspaper Society – an apex body of Publishers of Newspapers, Magazines & Periodicals in the country, was held through Video Conference. While K. Raja Prasad Reddy (Sakshi) was elected the deputy president, Rakesh Sharma (Aaj Samaj) was the vice-president and Tanmay Maheshwari (Amar Ujala) was elected the honorary treasurer of the Society for 2021-22.

Note: The Indian Newspaper Society Founded: 27 February 1939; The Indian Newspaper Society Headquarters location: New Delhi.

 

DEFENCE

 

1. India successfully test-fired the ‘Agni P’ missile off the coast of Odisha: The nuclear-capable ballistic missile ‘Agni Prime’ was successfully tested off the coast of Odisha by the Defence Research and Development Organisation (DRDO). Recently, DRDO has successful test-firing of the air version of the BrahMos supersonic cruise missile on December 7 was a “significant milestone” in BrahMos’ development.

About the Missile: Agni-P is a new generation upgraded version of Agni class missiles. It’s a two-stage canisterized missile with a range of 1,000 to 2,000 kilometres. The ballistic missile is half the weight of the Agni 3 and can be launched from the train or road. It can also be stored for longer periods of time and transported throughout the country as per operational requirements.

Note: Chairman DRDO: Dr G Satheesh Reddy; DRDO Headquarters: New Delhi; DRDO Established: 1958.

 

2. HAL signed contract with BEL for 83 LCA Tejas Mk1A fighters: Hindustan Aeronautics Limited (HAL) has signed a Rs 2,400 crores contract with Bharat Electronics Limited (BEL) for the development and supply of 20 types of systems for 83 LCA (Light Combat Aircraft) Tejas Mk1A fighter aircraft programme. The duration of the contract is 5 years i.e., from 2023 to 2028. Notably, this is HAL’s biggest order on any Indian company thus boosting the ‘Atmanirbhar Bharat’ campaign. The order for the supply of these systems will be executed by two units of BEL at Bengaluru (Karnataka), and Panchkula (Haryana).

Note: Hindustan Aeronautics Limited Founded: 1940; Hindustan Aeronautics Limited Headquarter: Bengaluru, Karnataka; Hindustan Aeronautics Limited CMD: R Madhavan.

Daily GK Update- 23rd Dec, 2021

 

NATIONAL UPDATES:

 

1. Jharkhand CM launched SAHAY scheme for maoist-hit areas: The Chief Minister of Jharkhand, Hemant Soren has launched a Sports Action toward Harnessing Aspiration of Youth (SAHAY) scheme aimed at nurturing young sporting talents in Maoist-hit districts of the state. This scheme has been launched to curb the Left Wing Extremism (LWE) which affected 19 of the state’s 24 districts. Boys and girls in the 14-19 age group from villages to ward level will be registered under the scheme and will be given opportunities to display their skills in basketball, volleyball, hockey and athletics.

Jharkhand Sahay Yojna Objectives: In order to instil a culture of sports and identify talent in the state, CM Hemant Soren had earlier given directions to sports department officials to work on a special sports scheme named Sahay for youth from Naxalite-affected areas. Officials were asked to work extensively to connect youth below the age of 19 with the Jharkhand Sahay Scheme. Under Sahay Yojana, potential sports talent will be identified from the panchayat level and taken to the block level and district level where they will be prepared for national and international sports events.

Note: Chief Minister of Jharkhand: Hemant Soren; Governor: Ramesh Bais.

 

2. Andhra Pradesh tie-up with UN-FAO & ICAR for sustainable agriculture: The Food and Agriculture Organisation (FAO) of the United Nations has signed an agreement with the Andhra Pradesh Government to train the farmers in good farm management practices and sustainable agricultural methods. The FAO apart, the Indian Council of Agricultural Research is collaborating on the project. FAO will provide training to farmers, Rythu Bharosa Kendram (RBK) staff, officials, and scientists on new technologies in agricultural allied sectors and training to farmers on best cultivation management practices. In 2020, Rythu Bharosa Kendram (RBK) or farmer support centres were set up in AP as part of an effort to weed away fake seeds, pesticides and fertilisers from the markets.

Note: Food and Agriculture Organisation Headquarters: Rome, Italy; Food and Agriculture Organisation Head: Qu Dongyu; Food and Agriculture Organisation Founded: 16 October 1945.

 

3. Adani tie-up agreement with SECI for green power: Adani Green Energy Ltd (AGEL) has signed a purchase agreement with Solar Energy Corporation of India (SECI) to supply 4,667 MW of green power. It is the world’s largest-ever green power purchase agreement (PPA). The agreement is part of a manufacturing-linked solar tender of 8,000 MW awarded to AGEL by SECI in June 2020. So far, AGEL has signed PPAs with SECI for a total generation capacity of close to 6,000 MW of the 8,000 MW awarded in 2020. The company expected to complete the balance of 2000 MW in the coming 2 to 3 months.

Note: Solar Energy Corporation of India Limited Established: 2011; Solar Energy Corporation of India Limited Headquarters: New Delhi, Delhi; Solar Energy Corporation of India Limited Chairman: Indu Shekhar Chaturvedi; Solar Energy Corporation of India Limited Managing Director:  Suman Sharma.

 

4. Arvind Kumar joins Software Technology Parks of India as DG: Arvind Kumar has joined as Director General of Software Technology Parks of India. Software Technology Parks of India is an autonomous body under the Ministry of Electronics & Information Technology Government of India. STPI is fuelling the culture of tech entrepreneurship and innovation in the country by launching 25 + Centres of Entrepreneurship in emerging technology domains.

About the Software Technology Parks of India: Currently, STPI-registered units have reached IT/ITeS/ESDM exports of over Rs. 5 lakh crores. STPI is one of the largest tech incubators in India with an area of approx.13 lakh square feet spread across various Tier 1/2/3 cities. STPI is also assisting in the formulation of India BPO Promotion Scheme 2.0. Further to strengthen the electronics sector, STPI has undertaken rolling out of the Electronics Manufacturing Clusters (EMC 2.0) Scheme.

Note: Software Technology Parks of India Founded: 1991; Parent organisation Software Technology Parks of India: Ministry of Electronics and Information Technology.

 

5. The book ‘Raj Kapoor: The Master at Work’ authored by Rahul Rawail released: Vice President of India, M Venkaiah Naidu has released the book titled ‘Raj Kapoor: The Master At Work’ authored by Rahul Rawail. The book launch event was held at India Habitat Centre in New Delhi, coinciding with Raj Kapoor’s 97th birth anniversary. The vice president described the book as a “labour of love and dedication”.

The essence of the book: The book also examines how the lessons he learnt under the tutelage of Raj Kapoor carried Rahul Rawail through directing his own blockbuster films including Love Story, Betaab, Arjun and Dacait. Raj Kapoor: The Master at Work offers unique insights into what it took for Raj Kapoor to be an exceptional filmmaker, with his understanding of human emotions, virtues of music and the art of visual storytelling. Within these pages, one sees behind the enigma who lived and breathed cinema, in his before-seen role as a teacher, mentor, parent and guru.

 

6. National Farmer’s Day: 23rd December: Kisan Diwas or National Farmers’ Day is celebrated across the nation on December 23 to commemorate the birth anniversary of the fifth Prime Minister of India, Chaudhary Charan Singh. He brought farmer-friendly policies and worked towards the welfare of the farmers. He was the fifth Prime Minister of India and served the country as Prime Minister from 28 July 1979 to 14 January 1980.

 

INTERNATIONAL UPDATES:

 

1. YouGov: PM Modi world’s 8th most admired man in 2021: Prime Minister Narendra Modi has ranked 8th on the list of the world’s top 20 most admired men, in a survey carried out by data analytics company YouGov. PM Modi is ahead of Shah Rukh Khan, Amitabh Bachchan and Virat Kohli. The list has been compiled taking feedback from 42,000 people in 38 countries.

Apart from PM Modi, the other Indian men who, according to the survey, were the most admired in 2021 include Sachin Tendulkar, Shah Rukh Khan, Amitabh Bachchan and Virat Kohli. The list also includes the most admired Indian women of 2021 has Priyanka Chopra, Aishwarya Rai Bachchan and Sudha Murty.

 

List of the world’s 20 most admired men:			List of the world’s 20 most admired women:
Rank	Personality		Rank	Personality
1	Barack Obama		1	Michelle Obama
2	Bill Gates		2	Angelina Jolie
3	Xi Jinping		3	Queen Elizabeth II
4	Cristiano Ronaldo		4	Oprah Winfrey
5	Jackie Chan		5	Scarlett Johansson
6	Elon Musk		6	Emma Watson
7	Lionel Messi		7	Taylor Swift
8	Narendra Modi		8	Angela Merkel
9	Vladimir Putin		9	Malala Yousafzai
10	Jack Ma		10	Priyanka Chopra
11	Warren Buffett		11	Kamala Harris
12	Sachin Tendulkar		12	Hillary Clinton
13	Donald Trump		13	Aishwarya Rai Bachchan
14	Shah Rukh Khan		14	Sudha Murty
15	Amitabh Bachchan		15	Greta Thunberg
16	Pope Francis		16	Melania Trump
17	Imran Khan		17	Lisa
18	Virat Kohli		18	Liu Yifei
19	Andy Lau		19	Yang Mi
20	Joe Biden		20	Jacinda Ardern

 

OTHER UPDATES:

 

SPORTS

 

1. BWF World badminton championship: K Srikanth won silver: Shuttler Kidambi Srikanth became the first Indian man to win a silver medal at BWF World Championships. In the final, Kidambi was defeated by Singapore’s Loh Kean Yew by 21-15, 22-20. This was the first time that a men’s player from Singapore won gold at BWF World Championships. The badminton tournament was held from December 12 to 19, 2021 in Huelva, Spain.

About the 2021 BWF World Championships: 2021 BWF World Championships is officially known as “TotalEnergies BWF World Championships 2021” for sponsorship purpose. The badminton tournament was held from December 12 to 19, 2021 in Huelva, Spain. Huelva was awarded this event in November 2018, when the announcement was made for 18 major badminton event hosts from 2019 to 2025.

Note: Badminton World Federation Founded: 5 July 1934; Badminton World Federation Headquarters: Kuala Lumpur, Malaysia; Badminton World Federation President: Poul-Erik Høyer Larsen.

 

BANKING AND FINANCE

 

1. RBI imposes penalty on PNB and ICICI Bank: A penalty of Rs 1.8 crores has been imposed on Punjab National Bank (PNB) by the Reserve Bank of India (RBI), while ICICI Bank has been fined Rs 30 lakh for deficiencies in regulatory compliances. According to a statement issued by the central bank, PNB was found guilty of contravening provisions of the Banking Regulation Act, 1949, related to pledge of shares by it.

In the case of ICICI Bank, the RBI said that after conducting a statutory inspection for supervisory evaluation of the bank, it found non-compliance with directions related to levy of charges for non-maintenance of minimum balance in saving accounts. The RBI however made it clear that in both the cases, penalties were levied on deficiencies in regulatory compliances and it was not a pronunciation on the validity of any transaction or agreement entered into by the banks with their respective customers.

 

BUSINESS AND ECONOMY

 

1. WhatsApp announces Digital Payments Utsav for 500 villages in India: WhatsApp has announced the Digital Payments Utsav for 500 villages in India. WhatsApp’s Digital Payments Utsav is a pilot program that promotes digital payments to empower individuals and businesses and is meant as a project to further the cause of financial inclusion. The aim is to empower villagers with access to digital payments via the ‘payments on WhatsApp’.

At the Fuel For India 2021 event:

(1) WhatsApp announced the Digital Payments Utsav – a pilot program that is going to adopt 500 villages in Karnataka and Maharashtra in an effort to “accelerate financial inclusion”.

(2) Digital Payments Utsav took off on October 15 this year in the Kyathanahalli village in the Mandya district of Karnataka.

(3) Here on-ground facilitators helped familiarise villagers with various aspects of digital payments including how to sign up for UPI, set up a UPI account, and also told them about the best practices to be safe while using digital payments online.

Note: WhatsApp Founded: 2009; WhatsApp CEO: Will Cathcart; WhatsApp Headquarters: Menlo Park, California, United States; WhatsApp Acquisition date: 19 February 2014; WhatsApp Founders: Jan Koum, Brian Acton; WhatsApp Parent organization: Facebook.

 

2. TVS Motor and BMW Motorrad tie up to make electric vehicles: India’s TVS Motor Company will develop electric vehicles (EV) with BMW’s motorcycle brand in India, joining a host of Indian automakers that have sought to expand their clean mobility offering. The tie-up comes at a time when new-age start-ups like Ola Electric & Ather are ramping up investment in electric scooters. Under the extended scope of the partnership, the companies plan to come up with an electric vehicle platform in addition to the existing internal combustion platform for both global and domestic markets. The first product under the enhanced co-operation, an electric model suited for the urban ecosystem, is expected to make its debut in the next 24 months.

Note: TVS Motor Company CEO: K. N. Radhakrishnan; TVS Motor Company Headquarters: Chennai; TVS Motor Company Founder: T. V. Sundram Iyengar; TVS Motor Company Founded: 1978.

 

AWARDS AND HONOURS

 

1. Kumar Mangalam Birla receives Global Entrepreneur of the Year Award: Aditya Birla Group’s chairman, Kumar Mangalam Birla has received the Global Entrepreneur of the Year Award- Business Transformation from The Indus Entrepreneurs (TiE) based out of Silicon Valley. Birla is the first Indian Industrialist to receive the award for global entrepreneurship along with top global business leaders Satya Nadella, Elon Musk, and Jeff Bezos. The awardees were selected by an independent jury chaired by Venture Capitalist, Tim Draper, Founder, Draper University.

 

2. Avani Lekhara won ‘Best Female Debut’ honour at 2021 Paralympic Sport Awards: Indian shooter Avani Lekhara, who has created history by winning India’s first Gold medal in Shooting at the 2020 Tokyo Paralympics, won the “Best Female Debut” honour at the 2021 Paralympic Sport Awards. The Awards were announced by the International Paralympic Committee. She became the 1st Indian woman to win 2 Paralympic medals in a single edition of the Paralympic Games. India won an unprecedented 19 medals at the Paralympic Games including 5 Gold, 8 Silver & 6 Bronze.

Daily GK Update- 22nd Dec, 2021

 

NATIONAL UPDATES:

 

1. India to raise legal marriage age for women: The proposal to raise the minimum age of marriage for women from 18 to 21 was cleared by the Union Cabinet. Presently, the minimum age of marriage for men is 21 but for women, it is 18. The government will now look to introduce amendments to the Prohibition of Child Marriage Act, Special Marriage Act, and the Hindu Marriage Act to bring the plan into action. This will give a chance to the girls to study more. They will be able to enjoy their independence. They will also get better employment opportunities.”

According to a 2017 United Nations report: India was struggling to stop child marriages and improve the health of its mothers. The report said as many as 27 per cent of Indian girls were married before they turned 18.

 

2. ADB approves $112 million loan to establish Assam Skill University: The Asian Development Bank (ADB) has approved a $112 million loan to strengthen skills education and training through the establishment of the Assam Skill University (ASU). The Loan will create a path for skill development to enhance the productivity and competitiveness of Assam’s economy and industries. An additional $1 million grant from the Japan Fund for Poverty Reduction will support the introduction of technologies for smart campus management, integrated teaching, learning, and career development management.  About the project:

(1) The project will help develop the ASU’s management and operating systems, business models, and faculty and staff, and support the design and construction of environmentally sustainable and climate-resilient university campus and facilities to ensure efficient and sustainable operations.

(2) It will also support the design and delivery of industry-aligned and flexible skills education and training programs, including cutting-edge digital skills programs, career development programs and services, and continuing education programs.

Note: Assam Governor: Jagdish Mukhi; Assam Chief Minister: Himanta Biswa Sarma.

 

3. IIT-Delhi tie-up with IAF to improve indigenisation efforts: IIT-Delhi signed an MoU with Indian Air Force (IAF) to support requirements towards indigenous solutions in various weapon systems. Under the MoU, The IAF has identified key focus areas involving the development of technology and finding indigenous solutions towards the sustenance of various weapon systems. The partnership between IIT Delhi and IAF will also boost the efforts by Base Repair Depots (BRDs) of Maintenance Command IAF.

Note: Indian Air Force Establishment: 8 October 1932; Indian Air Force Headquarters: New Delhi, Delhi; Indian Air Force Chief of the Air Staff: Vivek Ram Chaudhari; Indian Air Force Motto: Touch the Sky with Glory.

 

4. Odisha tie-up with UNCDF to launch “Mission Shakti Living Lab”: Odisha inked an agreement with United Nations Capital Development Fund (UNCDF) to launch “Mission Shakti Living Lab” for the financial empowerment of women. A Global Centre for Financial Health, to launch Mission Shakti Living Lab empowering women economically and drive gender equality. With the use of digital technologies and e-commerce, it will increase the income and financial well-being of women, self-help groups (SHGs) and households by helping them in the factors of planning, saving, borrow or spending better. It will address the barriers related to the autonomy and financial freedom of women.

About the Mission Shakti: Mission Shakti was launched in 2001 to enhance the holistic development of women, there are 6.02 lakh self-help groups (SHGs) comprising 70 lakh members across rural and urban areas of Odisha under the initiative. This initiative led to an increase in the income of SHG members from Rs 3,000 to 15,000 per month in Odisha.

Note: UN Capital Development Fund Founded: 1966; UN Capital Development Fund Headquarters: New York, United States; UN Capital Development Fund Executive Secretary: Preeti Sinha.

 

5. A Book titled ‘Pride, Prejudice and Punditry’ by Dr Shashi Tharoor: Former union minister and Lok Sabha Member of Parliament Dr. Shashi Tharoor‘s 23rd book titled ‘Pride, Prejudice and Punditry’ was launched in Hyderabad, Telangana. There are ten sections in this book, each devoted to a particular topic such as modern Indian history, Indian Politics, etc. He has won ‘Sahitya Akademi Award’ for 2019, awarded to his book – ‘An Era of Darkness. The book marks the culmination of over 50 years of Dr Tharoor’s writings. His first short story made it into print when he was only 10 and since then he has published well over 5 million words—in books, newspapers, magazines, journals, online media, etc.—on a wide array of subjects.

 

6. National Mathematics Day: 22nd December: India observes the National Mathematics Day every year on 22 December since 2012. The day is celebrated to commemorate the birth anniversary of Mathematician Srinivasa Ramanujan. This year nation celebrates his 134th birth anniversary of Ramanujan. The main objective behind the celebration of National Mathematics Day is to make people aware of the development of mathematics and its importance in the growth of humanity.

History of National Mathematics Day: The day was announced on 26 February 2012 by the then Prime Minister Manmohan Singh to mark the 125th anniversary of the birth of the Indian mathematical genius Srinivasa Ramanujan (22 Dec 1887- 26 Apr 1920). 2012 was also observed as National Mathematics Year. Ramanujan had a wealth of ideas that have transformed and reshaped 20th-century mathematics. These ideas continue to shape the mathematics of the 21st century.

 

INTERNATIONAL UPDATES:

 

1. Malta becomes first European nation to approve cannabis for personal use: Malta became the first European country to allow limited cultivation and possession of cannabis for personal use, following a vote in parliament. The Maltese parliament voted in favour of the reform last week, with 36 votes in favour and 27 against.  Adults will be allowed to grow four plants at home and carry seven grams of cannabis, with smoking in public or in front of children remaining illegal. The Netherlands also has a liberal attitude towards cannabis, allowing the sale of small quantities in a policy aimed at managing crime and health risks, though officially it is illegal.

Cannabis: Cannabis, also known as marijuana among other names, is a psychoactive drug from the Cannabis plant. Native to Central and South Asia, the cannabis plant has been used as a drug for both recreational and entheogenic purposes and in various traditional medicines for centuries.

Note: Malta Capital: Valletta; Malta Currency: Euro.

 

OTHER UPDATES:

 

SPORTS

 

1. Sports Minister Anurag Thakur inaugurates Khelo India Women’s Hockey League: Sports Minister Anurag Singh Thakur formally inaugurated the first-ever national-level Khelo India Women’s Hockey League at Major Dhyan Chand National Stadium in New Delhi. The winner of the Khelo India Women’s Hockey League will get a cash prize of 30 lakhs. In the first phase, total 14 teams will participate in the league and 42 matches will be played from 15 December to 21 December. The second and third phases will be organized in early next year. The Sports Authority of India and Hockey India are jointly organizing the first-ever national-level Khelo India league. This is the first big event that will be organized at the Major Dhyanchand Stadium after 2015.

 

BANKING AND FINANCE

 

1. SEBI form ‘ALERTs’ committee for early detection of market anomalies: The Securities and Exchange Board of India (SEBI) has set up an Advisory Committee for Leveraging Regulatory and Technology Solutions (ALeRTS) to enhance technological capabilities and explore suitable technology solutions for the early detection of market anomalies. ALeRTS is a 7-member committee headed by Madhabi Puri Buch, a former whole-time member of SEBI and has experts from various technology domains as members. About the ALeRTS:

(1) ALeRTS will recommend future roadmaps and improvements in the various ongoing technology projects. It will also guide SEBI in designing and framing requirements for the different in-house systems

(2) In addition, the committee has also been constituted “to guide SEBI from a domain perspective, in ascertaining the adequacy of SupTech / RegTech tools envisaged/proposed to be used in-house for improving its capabilities,”.

Note: Securities and Exchange Board of India Founded: 12 April 1992; Securities and Exchange Board of India Headquarters: Mumbai; Securities and Exchange Board of India Agency executive: Ajay Tyagi.

 

2. Paytm launches EdTech Platform “Paytm Wealth Academy”: Paytm, which got listed in bourses last month, has announced the launch of Paytm Wealth Academy, a tech-powered educational platform. The launch of the wealth academy is initially on the Paytm Money app, the wealth management app owned by Paytm’s wholly-owned subsidiary Paytm Money. Paytm Wealth Academy will initially be available to select users, followed by a complete rollout.

About the Academy:

(1) The Paytm Wealth Academy will allow users to learn trading and financial concepts at their own pace at their level of comfort. The platform offers a wide catalogue of courses and webinars along with personalized recommendations for users, curated to complement their existing knowledge.

(2) Paytm Wealth Academy is an educational platform designed to make financial learning intuitive and self-driven. For the first time, highly customizable courses are being offered, allowing users to start their learning journey from any stage. This will allow new traders to establish a ground-up understanding of financial concepts and also encourage experienced traders to stay updated with advanced trading strategies.

Note: Paytm Founded: August 2010; Paytm Headquarters: Noida, Uttar Pradesh, India; Paytm CEO: Vijay Shekhar Sharma.

 

BUSINESS AND ECONOMY

 

1. Adda247 buys ed-tech platform StudyIQ Education for Rs 150 crore: Edtech platform firm Adda247 has acquired UPSC-focused ed-tech platform StudyIQ Education for $20 million (150 crores) in a cash and stock deal. Speaking on the acquisition, Adda247 founder and CEO Anil Nagar said it’s a strategic acquisition for Adda247. StudyIQ Education has over 11 million subscribers on Youtube and the platform receives close to 100 million views a month, the company claims. The current acquisition will give Adda247 an edge in the UPSC segment.

Some key points about the acquisition:

(1) By acquiring it, Adda247’s will be able to strengthen its position in the UPSC segment, which has one of the highest ARPUs (average revenue per user) in the test preparation segment.

(2) In November, Adda247 had secured Rs 20 million as part of a Series B funding round led by private equity firm WestBridge Capital. Operated by Metis Eduventures Pvt Ltd, Adda247 had said it’ll use the money to strengthen its technology platform and product, besides funding senior-level hiring.

(3) Founded by Anil Nagar and Saurabh Bansal in 2010, Adda247 had acquired YouTube channel Success Ease for an undisclosed amount in 2019.

About StudyIQ: StudyIQ YouTube channel is India’s largest educational Youtube channel in terms of monthly viewership, while it is the second largest in terms of subscribers’ base after Wifistudy. StudyIQ’s gross revenue for 2020-21 stood at Rs 33 crores, growing at over three times as compared to the previous financial year.

 

2. British-Indian Leena Nair is the new global CEO of Chanel: French fashion house Chanel named Leena Nair, an executive from Unilever, as its new global CEO. Nair’s career at Unilever spanned 30 years, most recently as the chief of human resources and a member of the executive committee. The recruitment of Nair, who rose through the ranks of Unilever having started out as a trainee on the factory floor, comes as the fashion industry is under pressure to show a more inclusive approach. A British national, born in India, Nair is a rare outsider at the helm of the tightly controlled family fashion house, known for its tweed suits, quilted handbags and No. 5 perfume. The 52-year-old follows US businesswoman Maureen Chiquet, who came from a fashion background and was CEO of Chanel for nine years until early 2016. Chanel was founded in 1910 by fashion legend Gabrielle “Coco” Chanel as a hat boutique on rue Cambon in Paris and grew to become a byword for French chic.

 

AWARDS AND HONOURS

 

1. 7-time champion Lewis Hamilton receives knighthood at Windsor Castle: Lewis Hamilton has picked up a new title only days after losing one on the track. The seven-time Formula One champion received a knighthood at Windsor Castle, London. Hamilton gets the honorary title of “Sir” after being knighted by the Prince of Wales for services to motorsports. Three other F1 drivers have been knighted: Jack Brabham, Stirling Moss and Jackie Stewart. Hamilton is the first to be awarded while still competing in the sport.

 

2. Simone Biles named Time Magazine’s 2021 Athlete of the Year: Simone Biles was named Time magazine’s 2021 Athlete of the Year. The world’s most decorated gymnast, a four-time Olympic medalist, was hailed for putting her mental health first when she withdrew from four event finals at the Tokyo Olympics. Despite the setback, the 24-year-old managed to earn a team all-around silver and a bronze in balance beam at the Tokyo Games. Biles along with hundreds of athletes accused the FBI, USA Gymnastics and the U.S. Olympic and Paralympic Committee for failing to stop the abuse. A month after the Tokyo Olympics, Biles gave an emotional testimony at a US senate hearing into former USA Gymnastics team doctor Larry Nassar sexual abuse scandal.