Daily GK Update- 18th Dec, 2023

 

NATIONAL UPDATES:

 

1. DGCA approves Drone Academy at Telangana Agri University: The Director General of Civil Aviation (DGCA) has approved the Drone Academy at Professor Jayashankar Telangana State Agricultural University (PJTSAU). This paves way for establishing a Remote Pilot Training Organisation (RPTO) to provide agri-drone pilot training to farmers, diploma holders, agri-graduates and unemployed rural youth with the collaboration of Marut Dronetech Private Ltd for a period of 10 years.

 

2. Surat joins the list of international airports: The Union Cabinet has approved the proposal to declare Surat Airport an international airport. Surat Airport will not only become a gateway for international travellers but will also facilitate seamless export-import operations for the thriving diamond and textile industries. The airport’s international status is paramount for enhancing economic growth, attracting foreign investment, and providing impetus for regional development. The Surat airport may be named after former prime minister the late Morarji Desai, who hailed from Valsad and had been elected from the Surat Lok Sabha constituency from 1957 to 1980.

 

3. 58 Airports covered under “Krishi Udan” Scheme: Govt: The Government has said that 58 Airports in the country have been covered under the Krishi Udan Scheme. The Scheme was launched in 2020 on international and national routes to assist farmers in transporting agricultural products to help improve their value realization. Minister of State for Civil Aviation Dr V K Singh said this in a written reply to a question in Rajya Sabha. Krishi Udan Scheme 2.0 was also announced in 2021 focusing on transporting perishable food products from the hilly areas, North Eastern States, and tribal areas. The scheme currently covers 25 airports focusing on North Eastern, Hilly and Tribal region besides 33 airports in other regions/ areas.

 

4. 18 December – Minorities Rights Day: Minorities Rights Day is observed every year on 18 December. It serves as a poignant reminder of the dedication to safeguarding the rights of religious, ethnic, racial, and linguistic minorities within the nation. Theme for 2023 – Celebrating Diversity and Inclusion The inception of Minorities Rights Day aligns with the adoption of the UN Declaration on December 18, 1992. This day is celebrated by the National Commission for Minorities.

INTERNATIONAL UPDATES:

 

1. International Migrants Day 2023: 18th December: International Migrants Day is observed on December 18 to recognise the contributions of migrants and highlight the challenges they face.

The day sheds light on the socio-economic realities of migrants around the world. Conflict, insecurity, and the effects of climate change and war have all played a major role in the forced migration of people in recent times, both within countries and across borders. Over 281 million people were international migrants in 2020.

 

2. Denmark introduces green tax on air passengers from 2025: Denmark has agreed to impose a tax on air passengers to help finance the airline industry’s transition to greener practices, which will be gradually phased in from 2025. The government in November proposed imposing an average tax of 100 Danish crowns ($14.35) on air travel to help finance the industry’s green transition, which aims to enable all domestic flights to use 100% sustainable fuels by 2030. Under the agreement, the tax by 2030 will reach around 50 Danish crowns ($7.35) per passenger for intra-European flights, 310 crowns for medium-distance flights, and 410 for long-distance. According to the National Oceanic and Atmospheric Administration, a study has found that aviation contributes to 3.5% of climate change. The research indicates that two-thirds of this impact result from various factors, including contrails, nitrogen oxides, water vapor, sulfate aerosol, soot, and other aerosols.

 

3. 18 December – International Migrants Day: International Migrants Day is observed on December 18 to recognize the contributions of migrants and highlight the challenges they face. The day sheds light on the socio-economic realities of migrants around the world. Theme 2023 – Act Today for a Better Tomorrow for All: Improving the Health of migrants to Unleash the Power of Migration On 4 December 2000, the United Nations General Assembly (UNGA) proclaimed December 18 as International Migrants Day. Over 281 million people were international migrants in 2020, according to a United Nations report. It added that over 59 million people were internally displaced by the 2021 end.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Navy signed MoU with IIT Kanpur to promote technology development: Indian Navy has signed an MoU with Indian Institute of Technology Kanpur to promote technology development, innovative solutions and joint R&D. Rear Admiral K Srinivas, Asst Chief of Materiel (Dockyard & Refits) and Professor Subramaniam Ganesh, Officiating Director IIT Kanpur concluded this MoU. IN and IIT Kanpur share common interest in academic exchange of scientific research activities in the field of Engineering related to defence technologies. The MoU would serve as a broader framework and enable both sides to enhance capacity building, provide solutions to field-level issues and enhance training effectiveness through exchange of faculty/ guest lectures. The structured collaboration focuses on joint Research and Development initiatives involving teams from Centre of Excellence (Marine Engg) at INS Shivaji, Lonavla and IIT Kanpur.

 

 

 

BANKING AND FINANCE

 

1. AU Small Finance Bank presents 'Badlaav Humse Hai-Season 2': AU Small Finance Bank and Network18 launch season 2 of ‘Badlaav Humse Hai’, an initiative to showcase remarkable humanitarian efforts of India's lesser-known changemakers. Actor, entrepreneur and producer Gul Panag has been roped in as a celebrity champion for change. Introduced by AU Small Finance Bank (AU SFB) in 2021, the 2nd season of ‘Badlaav Humse Hai', aims to recognize.

 

2. Canara HSBC Life Insurance launches ‘Alpha Wealth’ plan with option to alter premiums: Canara HSBC Life Insurance has launched ‘Alpha Wealth’ plan with comprehensive features to ensure financial security for the insured and their family. It also encourages long-term savings with loyalty additions and wealth boosters. The product offers an array of options by investing in a wide variety of funds – debt/equity/liquid available in the market. The insurance plan is flexible in terms of providing to choose from three plan options based on the life stages: ‘Alpha Invest Plus,’ ‘Alpha Premium Plus,’ or ‘Alpha Life Plus.’

 

3. RBI authorizes Bandhan Bank to disburse pensions to railway employees: Bandhan Bank has been authorized by the Reserve Bank of India (RBI) for the disbursement of pensions through e-PPOs on behalf of the Ministry of Railways. This authorization enables Bandhan Bank to disburse pensions to all employees of the Ministry of Railways who have retired from their service. This mandate also provides the Bank access to around 50,000 average Indian Railways retirees every year across all offices including 17 zonal railways and 8 production units of Indian Railways. Authorization to disburse pensions to retired employees of railways provides an opportunity to serve them with the best products and services of the bank. It also allows retired employees to enjoy the most competitive rates provided by Bandhan Bank. This will provide the existing as well as new customers of Bandhan Bank an opportunity to avail the world-class banking services, competitive interest rates along with senior citizen privilege provided by the Bank.

 

AWARDS AND HONOURS

 

1. Dr. Srinivas Naik Dharavath receives visionary leader Icon 2023 Award: Dr. Srinivas Naik Dharavath, Chairman of Real Vision Homes Pvt Ltd, receives the Visionary Leader Icon Award 2023 from AASRAA at the 5th National Summit in New Delhi's Constitution Club of India. The prestigious award was presented at the Constitution Club of India in New Delhi. Dr. Srinivas Naik Dharavath has also been the Recipient of Times of India - Fastest Growing Real Estate Brands in the Year 2023 and Global ICON Award at G20 Summit at Srilanka.

 

2. Indian-American medical student Rijul Maini crowned Miss India USA 2023: Rijul Maini, a medical student from Michigan, has been crowned Miss India USA 2023 at the annual pageant held in New Jersey. While Sneha Nambiar from Massachusetts was declared as Mrs India USA and Saloni Rammohan from Pennsylvania won the title of Miss Teen India USA. Maini, a 24-year-old Indian-American, is a medical student and model. She aspires to be a surgeon and hopes to serve as a role model to women everywhere. Greeshma Bhat of Virginia was declared first runner-up and Ishita Pai Raikar of North Carolina was the second runner-up. 57 contestants from over 25 states participated in three different pageants – Miss India USA, Mrs India USA, and Miss Teen India USA. This year marks the 41th anniversary of the pageant which is the longest-running Indian pageant outside of India.

 

3. Dr. Srinivas Naik Dharavath receives Visionary Leader Icon 2023 Award: Real Vision Homes Pvt Ltd Chairman, Srinivas Naik Dharavath has been honored with the Visionary Leader Icon Award 2023 by Advocates Association For Social Responsibility And Awareness (AASRAA)at the 5th National Conventions in Delhi. Real Vision Homes Pvt Ltd, a leading name in the real estate sector, takes immense pride in Founder Chairman Dr. Srinivas Naik Dharavath’s well-deserved recognition as a visionary leader. The award is a testament to his unwavering dedication, remarkable achievements, and commitment to excellence in both business and social endeavors.

The 5th National Summit of AASRAA served as the perfect platform to acknowledge and honor Dr. Srinivas Naik Dharavath’s significant contributions.

Daily GK Update- 17th Dec, 2023

 

NATIONAL UPDATES:

 

1. India, ADB sign $200 million loan agreement for Uttarakhand power system project: The Centre has signed an agreement with the Asian Development Bank (ADB) for a $200 million loan from the latter to improve the quality, efficiency, and reliability of power supply in the State of Uttarakhand. The ADB funding for the project will strengthen power system infrastructure and help Uttarakhand in achieving its goal of providing 24×7 power to its residents. The project will modernize Dehradun city’s power network infrastructure by introducing an advanced and climate-resilient underground cable system comprising 537 km subterranean cables, 354 ring main units, and 99 compact substations. Additionally, it will enhance the current power system by installing upstream substations and their associated power lines that will help meet increasing electricity demand, reduce network congestion, and improve power distribution reliability in urban and suburban areas.

 

INTERNATIONAL UPDATES:

 

1. Zepto founders top Hurun India’s list of ‘Top 100 under 30: The young entrepreneurs Kaivalya Vohra (21) and Aadit Palicha (22), founders of the Quick Commerce app Zepto, have claimed the top spots in the Hurun India Top 100 Under 30 List 2023. The list showcases 100 entrepreneurs aged 30 and below who have demonstrated exceptional prowess in their respective fields. Zepto, the brainchild of Vohra and Palicha, stands out for its commitment to delivering a diverse array of products within minutes. The app caters to a wide spectrum of consumer needs, ranging from online groceries and fresh produce to personal care items and electronics. Earlier this year, the company secured $200 million in funding which propelled Zepto’s valuation to $1.4 billion, marking it as the first Indian unicorn of 2023.

 

2. Shah Rukh Khan tops UK’s 2023 South Asian celebrity list: Bollywood superstar Shah Rukh Khan, referred to as the King Khan of the Indian film industry, has topped a UK list of the ‘Top 50 Asian Celebrities in the World’. The 58-year-old actor, who had double box-office success this year with action thrillers “Pathaan” and “Jawan”, is currently preparing for the Christmas release of comedy-drama “Dunki”. Popular actor Alia Bhatt came in second for her impact in Bollywood and Hollywood and also for being a strong role model for working mothers. Third-placed Priyanka Chopra Jonas, the most famous Indian on the planet, has been recognised for her ground-breaking work on the international stage, including with big-budget series “Citadel”, Hollywood film “Love Again”, humanitarian work and lighting up the red carpet globally. Fourth-placed Diljit Dosanjh confirmed his place as the biggest Punjabi star, with stunning work as an actor and singe.

 

3. India’s Uma Sekhar elected to Governing Council of UNIDROIT: In a historic moment for India, Ms. Uma Sekhar has secured a remarkable victory by garnering 45 out of 59 votes in the initial round of elections for the Governing Council of the International Institute for the Unification of Private Law (UNIDROIT) held in Rome, Italy. This win not only signifies Ms. Sekhar’s individual achievement but also elevates India to a prominent position on the Governing Council for the term spanning 2024-28. Securing a position on the Governing Council required a minimum of 21 votes, and Ms Uma Sekhar’s substantial support of 45 votes underscores the confidence and trust vested in her capabilities. The Governing Council, comprising 25 positions occupied by distinguished legal experts, holds a pivotal role in shaping international legal frameworks.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. SBI signed 70-million-euro LoC with KfW for solar projects: State Bank of India (SBI) has signed a 70-million-euro (about Rs 630 crore) Line of Credit (LoC) with German Development Bank KfW for promoting solar projects in the country. The Line of Credit (LoC) is specifically tailored to bolster Solar Photovoltaics (PV) projects in India, aligning with the nation’s commitment to clean and renewable energy sources. This collaboration between SBI and KfW reflects a shared vision of promoting sustainable practices and reducing the carbon footprint through solar initiatives.

 

2. Reliance Industries partners with DBS Bank for financing programme: Reliance Industries Limited (RIL) and DBS Bank India have collaborated to establish a financing programme customized to the requirements of the compressed biogas project initiated by RIL. The financing will enable the ecosystem development for vendor partners to aggregate agri-residue as inputs for the Reliance compressed biogas production plants across India. The company targets to establish 100 compressed biogas (CBG) plants in the next five years, consuming 5.5 million tonnes of agro-residue and organic waste. The move would help in mitigating nearly 2 million tonnes of carbon emissions and producing 2.5 million tonnes of organic manure annually.

 

3. IDFC FIRST Bank, LIC Cards, and Mastercard to co-launch Credit card: IDFC First Bank, LIC Cards, and Mastercard have partnered to launch an exclusive co-branded credit card to meet the dynamic financial needs of the country. Available in two variants — LIC Classic and LIC Select — the credit cards will let more than 27 crore policyholders across the country save in the form of reward points on every LIC insurance premium payment. It will also come with other benefits, including up to Rs 50,000 cover for lost card liability and a personal accident insurance cover of up to Rs 5 lakh. The new partnership will create synergy by collaborating Brand LIC which signifies ‘Trust’ and IDFC First Bank which represents new age “Customer Centricity”

 

4. ADB raises India FY24 growth forecast to 6.7%: Asian Development Bank (ADB) has raised India’s growth forecast from 6.3 % to 6.7% for the Financial Year 2023-24 (FY24). ADB’s growth forecast for FY25 is unchanged at 6.7 percent. Fixed investments – driven by increased capital spending by the central and state governments – will compensate for lower growth in private consumption expenditure and weaker-than-expected exports in FY24. ADB kept its earlier forecasts on Indian inflation unchanged 5.5 percent in FY24. Similarly, Morgan Stanley predicted the Indian economy to grow by 6.9 percent in the current fiscal year and Kotak Mahindra Bank revised its estimate to 6.8 percent. The two had projected the economy to grow 6.4 percent and 6.2 percent, respectively.

 

AWARDS AND HONOURS

 

1. BBG Foundation becomes winner of Telangana Business Awards: In recognition of its outstanding commitment to empowering girls through education, BBG Foundation has been honored with the prestigious title of Best Girl Child Empowerment Program Initiative of the Year.

The award was presented by Telangana Business Awards (TBA), a distinguished platform dedicated to recognizing excellence in various sectors. Telangana Business Awards serves as a beacon for enhancing productivity and quality in companies, entrepreneurs, and service providers, acknowledging their remarkable achievements and performance in their respective fields. The awards aim to promote business excellence by providing a structured framework for assessment. BBG Bangaaru Thalli, a non-profit organization founded in 2019 by Mallikarjuna Reddy and a team of dedicated experts, is dedicated to revolutionizing girls’ education in rural and educationally disadvantaged areas of India.

 

2. Ali Abu Awwad and Daniel Barenboim won Indira Gandhi Peace Prize: The Indira Gandhi Prize for Peace, Disarmament, and Development for 2023 has been jointly awarded to Daniel Barenboim and Ali Abu Awwad for their efforts in bringing together the youth and peoples of Israel and the Arab World for a non-violent resolution of the Israel-Palestine conflict. The International Jury of the Indira Gandhi Prize for Peace was chaired by former CJI T.S. Barenboim and Mr. Awwad have fostered meaningful, mutual social, and cultural understanding, and peaceful public cooperation via the tools of music, dialogue and people’s participation.

 

3. Federal Bank as the top performer of the 2023 Climate Assessment for Financial Institutions (CAFI) Awards: International Finance Corporation (IFC), a World Bank Group has recognized Federal Bank as the top performer of the 2023 Climate Assessment for Financial Institutions (CAFI) Awards for Climate Reporting. Out of the 258 financial institutions globally participating in climate reporting through the CAFI tool, Federal Bank emerged as a standout performer. Federal Bank secured two positions on the global stage i.e. Highest Climate Loan Amount Reported and Most GHG Mitigated category. Furthermore, in the South Asian region, Federal Bank clinched four prestigious recognitions in the following categories:

Daily GK Update- 16th Dec, 2023

 

NATIONAL UPDATES:

 

1. India, ADB sign $200 million loan agreement for Uttarakhand power system project: The Centre has signed an agreement with the Asian Development Bank (ADB) for a $200 million loan from the latter to improve the quality, efficiency, and reliability of power supply in the State of Uttarakhand. The ADB funding for the project will strengthen power system infrastructure and help Uttarakhand in achieving its goal of providing 24×7 power to its residents. The project will modernize Dehradun city’s power network infrastructure by introducing an advanced and climate-resilient underground cable system comprising 537 km subterranean cables, 354 ring main units, and 99 compact substations. Additionally, it will enhance the current power system by installing upstream substations and their associated power lines that will help meet increasing electricity demand, reduce network congestion, and improve power distribution reliability in urban and suburban areas.

 

2. India’s Uma Sekhar elected to Governing Council of UNIDROIT: In a historic moment for India, Ms. Uma Sekhar has secured a remarkable victory by garnering 45 out of 59 votes in the initial round of elections for the Governing Council of the International Institute for the Unification of Private Law (UNIDROIT) held in Rome, Italy. This win not only signifies Ms. Sekhar’s individual achievement but also elevates India to a prominent position on the Governing Council for the term spanning 2024-28. Securing a position on the Governing Council required a minimum of 21 votes, and Ms Uma Sekhar’s substantial support of 45 votes underscores the confidence and trust vested in her capabilities. The Governing Council, comprising 25 positions occupied by distinguished legal experts, holds a pivotal role in shaping international legal frameworks.

 

INTERNATIONAL UPDATES:

 

1. India, South Korea, and US to launch technology dialogues: India, South Korea and the United States will start an informal trilateral technology dialogue in the first quarter of 2024 in response to China's rapid progress in critical technologies within the Indo-Pacific region. The decision was made during the inaugural US-South Korea Next Generation Critical and Emerging Technologies Dialogue held in Seoul. The aim of this programme is to increase cooperation in strategic and defense technologies between the two countries.

 

2. Shah Rukh Khan tops UK’s 2023 South Asian celebrity list: Bollywood superstar Shah Rukh Khan, referred to as the King Khan of the Indian film industry, has topped a UK list of the ‘Top 50 Asian Celebrities in the World’. The 58-year-old actor, who had double box-office success this year with action thrillers “Pathaan” and “Jawan”, is currently preparing for the Christmas release of comedy-drama “Dunki”. Popular actor Alia Bhatt came in second for her impact in Bollywood and Hollywood and also for being a strong role model for working mothers. Third-placed Priyanka Chopra Jonas, the most famous Indian on the planet, has been recognised for her ground-breaking work on the international stage, including with big-budget series “Citadel”, Hollywood film “Love Again”, humanitarian work and lighting up the red carpet globally. Fourth-placed Diljit Dosanjh confirmed his place as the biggest Punjabi star, with stunning work as an actor and singe.

 

OTHER UPDATES:

 

SPORTS

 

1. Leander and Vijay Amritraj make it to the Tennis Hall of Fame: Olympic medallist and multiple Grand Slam champion Leander Paes, along with two-time Davis Cup finalist Vijay Amritraj, has made it into the International Tennis Hall of Fame. Leander makes it in the player category and Vijay in the contributor category for his multi-faceted role in the game. They are the first two Indians to be inducted into the Hall of Fame. Leander has won eight Grand Slam doubles titles and 10 mixed doubles titles. He is only one of three men in tennis history to complete a career Grand Slam in both doubles and mixed doubles. Since 2006, Vijay Amritraj Foundation has provided education and basic needs for women and children in the Indian community.

 

BANKING AND FINANCE

 

1. RBI increases UPI Automatic Payment Limit: The Reserve Bank of India  increased the limit for automatic payments through Unified Payments Interface (UPI) to Rs 1 lakh per transaction from the existing Rs 15,000 for certain categories, including subscription to mutual funds. As of now, relaxation in Additional Factor of Authentication (AFA) is permitted while processing e-mandates/standing instructions on cards, prepaid payment instruments and UPI for subsequent recurring transactions with values up to Rs 15,000

 

2. Reliance Industries Collaborates with DBS Bank: Reliance Industries Limited (RIL) and DBS Bank India have collaborated to establish a financing programme customized to the requirements of the compressed biogas project initiated by RIL. The financing initiative aims to support the ecosystem development for vendor partners involved in aggregating agri-residue as inputs for Reliance's CBG production plants across India. The CBG plants are expected to mitigate nearly 2 million tonnes of carbon emissions annually.

 

3. Reliance Industries partners with DBS Bank for financing programme: Reliance Industries Limited (RIL) and DBS Bank India have collaborated to establish a financing programme customized to the requirements of the compressed biogas project initiated by RIL. The financing will enable the ecosystem development for vendor partners to aggregate agri-residue as inputs for the Reliance compressed biogas production plants across India. The company targets to establish 100 compressed biogas (CBG) plants in the next five years, consuming 5.5 million tonnes of agro-residue and organic waste. The move would help in mitigating nearly 2 million tonnes of carbon emissions and producing 2.5 million tonnes of organic manure annually.

AWARDS AND HONOURS

 

1. Rijul Maini Crowned Miss India USA 2023: Rijul Maini crowned Miss India USA 2023 at the annual pageant held in New Jersey. The title of Miss Teen India USA was awarded to Saloni Rammohan of Pennsylvania, while Mrs India USA was won by Sneha Nambiar of Massachusetts. Greeshma Bhat of Virginia was declared first runner-up and Ishita Pai Raikar of North Carolina was the second runner-up. Ms Maini is a model and a medical student.

 

2. Kabir Bedi awarded Italy's civilian honour 'Order of Merit': Veteran actor Kabir Bedi has been honoured with the highest civilian honour of Italy. He was awarded the Order of Merit of the Italian Republic (Merito della Repubblica Italiana). Niccolo Fabi gave a unique live musical performance following the occasion in Mumbai. The scroll of honour was signed by President Mattarella and counter-signed by Prime Minister Giorgia Meloni.

 

3. Ali Abu Awwad and Daniel Barenboim won Indira Gandhi Peace Prize: The Indira Gandhi Prize for Peace, Disarmament, and Development for 2023 has been jointly awarded to Daniel Barenboim and Ali Abu Awwad for their efforts in bringing together the youth and peoples of Israel and the Arab World for a non-violent resolution of the Israel-Palestine conflict. The International Jury of the Indira Gandhi Prize for Peace was chaired by former CJI T.S. Barenboim and Mr. Awwad have fostered meaningful, mutual social, and cultural understanding, and peaceful public cooperation via the tools of music, dialogue and people’s participation.

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Daily GK Update- 15th Dec, 2023

 

NATIONAL UPDATES:

 

1. Bhajan Lal Sharma sworn-in as Chief Minister of Rajasthan: BJP legislature party leader Bhajan Lal Sharma sworn-in as Chief Minister of Rajasthan at Albert Hall in Jaipur. Governor Kalraj Mishra administered the oath to Mr Sharma and his two deputies -  Diya Kumari and Prem Chand Bairwa. Mr. Sharma was elected as an MLA from the Sanganer Assembly constituency. Vasudev Devnani has been named the state assembly speaker.

 

2. Madhya Pradesh govt to set up PM College of Excellence in all districts of the state: Madhya Pradesh government will set up PM College of Excellence in all districts of the state. The decision to this effect was taken at the first Cabinet meeting chaired by new Chief Minister Mohan Yadav in Bhopal. In Madhya Pradesh, the government will upgrade one college in every district out of total 570 government colleges as “PM College of Excellence”. More than Rs 460 crore will be spent on the development of these colleges. Apart from this, degree and mark sheets of students in all government and private universities will be uploaded in DigiLocker.

 

3. NHAI inks pact to develop multi-modal logistics park at Nagpur: State-owned NHAI has signed an agreement to develop a multi-modal logistics park (MMLP) in Nagpur at a cost of Rs 673 crore. This project is poised to be the first MMLP in Maharashtra under the PM Gati Shakti National Master Plan. NHAI has signed an agreement with M/s DC Multi-Modal Park (Nagpur) Limited, an SPV of M/S DeltaBulk Shipping India Pvt Ltd, for the development of Multi Modal Logistics Park (MMLP) in Nagpur. The MMLP will be developed in an area of 150 acres under the Public Private Partnership model at an estimated cost of Rs 673 crore. The MMLP will provide facilities, such as warehouses, cold storages, intermodal transfers, handling facilities for container terminals, and bulk/break-bulk cargo terminals, along with value-added services.

 

4. Parama Sen appointed part-time member of PFRDA board: The Centre has appointed Parama Sen, Additional Secretary, Department of Expenditure in the Finance Ministry, as a part-time member in Pension Fund Regulatory and Development Authority (PFRDA). Sen, a 1994 batch Indian Audit and Accounts Services (IAAS) officer, replaces Anne George Mathew, Additional Secretary in Finance Ministry, who demitted office this year. PFRDA has a chairman besides three whole-time members and three part-time members. The post of Member (Law), which fell vacant in May last year, remains to be filled. The two other part-time members — Rahul Singh (Department of Personnel and Training) and Pankaj Sharma (Department of Financial Services) — were appointed last year.

 

5. 14 December – National Energy Conservation Day: National Energy Conservation Day is observed in India every year on December 14. Objective – To raise public awareness about the value of energy efficiency and conservation. Every year, the Bureau of Energy Efficiency under the Ministry of Power spearheads the celebrations. Since 1991, December 14 has been designated as the National Energy Conservation Day. In 2021, the power ministry also observed the Energy Conservation Week from December 8 to 14 as part of the Azadi ka Amrit Mahotsav celebrations.

 

INTERNATIONAL UPDATES:

 

1. India’s plan for 50,000 e-buses on its roads gets US support: India is aiming to get 50,000 electric buses on its streets by 2027 with help from a joint finance mechanism with the The $390 million fund will act as a guarantee for manufacturers seeking loans to expand production. India currently only has 12,000 e-buses in operation. The payment security mechanism, established with $150 million from the US government and philanthropic groups, and $240 million from the Indian government, is the bedrock of risk management for building out the financial system for electric mobility at scale in India.

 

2. Germany to give €500 mn for Bengaluru Metro expansion: The payment security mechanism, established with $150 million from the US government and philanthropic groups, and $240 million from the Indian government, is the bedrock of risk management for building out the financial system for electric mobility at scale in India. KfW, Germany’s state-owned investment and development bank, is set to sign an agreement to provide €500 million (around ₹4,500 crore) in financial assistance for the expansion of the Bengaluru Metro. The funding, which includes loan and grants, will help the metro’s expansion plans as well as provide technical expertise to the metro project. KfW, which is looking to expand its funding for green energy and sustainable mobility projects in India, is also financing metro projects in Mumbai and Nagpur among other cities.

 

3. Aditya Jairaj appoints as CEO and MD of Stellantis India: Aditya Jairaj has been appointed as CEO and MD of Stellantis India, with effect from January 1, 2024. Aditya, currently deputy managing director, Stellantis India and head – Jeep India, will succeed Roland Bouchara, who will be assigned to another function in Europe after six and a half years of leading Stellantis in India. Since he was appointed the CEO and MD in 2021, Roland has successfully led Stellantis India’s expansion, playing an instrumental role in establishing a robust foundation for Citroën and Jeep.

Before 2021, Roland successfully launched the Citroën brand in India and led the operations in his capacity as senior vice president of sales and marketing for the brand.

 

 

OTHER UPDATES:

DEFENCE

 

1. Fast AttackCraft INS Tarmugli commissioned into Navy at Naval Dockyard: INS Tarmugli, a Fast Attack Craft has been commissioned into the Navy at a ceremony held at Naval Dockyard, Visakhapatnam. Vice Admiral Sandeep Naithani, AVSM, VSM, Chief of Materiel, Indian Navy commissioned the Trinkat Class FAC which was gifted to the Maldivian Naval Defence Forces (MNDF) in 2006 by India. The ship returned in May this year and post extensive restoration work by the Naval Dockyard, Visakhapatnam, was reincarnated in its present avatar.

 

SPORTS

 

1. MS Dhoni's iconic No. 7 jersey retired by BCCI: India's former cricket captain, MS Dhoni, will have his iconic No. 7 jersey retired by the Board of Control for Cricket in India (BCCI) as a tribute to his contribution to the sport. Dhoni retired from international cricket in 2020 but continues to play in franchise cricket. While wearing the No. 7, Dhoni led India to three white-ball ICC titles: the T20 World Cup in 2007, the ODI World Cup in 2011, and the Champions Trophy in 2013.

 

2. Antim Panghal named UWW Rising Star of the Year: Indian wrestler Antim Panghal (19-years) has been named the Rising Star of the Year among women by the United World Wrestling (UWW), the sport’s global governing body. She is Two-time World under-20 champion and senior Worlds bronze medallist Antim Panghal (53kg).

 

SCIENCE AND TECHNOLOGY

 

1. First Indian astronaut on moon by 2040: ISRO: The Indian Space Research Organization (ISRO) is planning to send Indian astronauts to the moon for the first time by 2040. Four test pilots from the Indian Air Force have been selected as astronaut designates for the mission. ISRO aims to take the next step in space exploration with the Gaganyaan programme, planning to launch a crew of 2 to 3 Indian astronauts into Low Earth Orbit (LEO) for up to three days before safely returning them to a predefined site in Indian waters. Currently, the astronaut designates are undergoing mission-specific training at the Astronaut Training Facility (ATF) in Bengaluru. The inaugural manned space mission Gaganyaan involves developing critical technologies, including a human-rated (capable of safely transporting humans) launch vehicle (HLVM3), an Orbital Module comprising a Crew Module (CM) and Service Module (SM), and life support systems.

 

BANKING AND FINANCE

 

1. SBI hikes base rate by 15 bps: The State Bank of India’s (SBI) has hiked its marginal cost of funds-based lending rate (MCLR) and base rate. The new rates are effective from December 15, 2023, according to the SBI website. The MCLR is the lowest interest rate at which a bank can make a loan to a customer.

 

2. Net Direct tax collection surges 23.4 percent to 10.6 lakh crore rupees bet: The government’s net direct tax collection for April to November 2023, stood at 58.34 percent of Budget Estimates (BE) at 10.64 lakh crore rupees. The Gross collections, before issuing refunds, grew at 17.7 percent to 12.67 lakh crore rupees in the April-November period. The Refund amount issued from April to November of the current fiscal stood at 2.03 lakh crore rupees. In the current fiscal, 18.23 lakh crore rupees is expected to be collected in direct taxes.

 

AWARDS AND HONOURS

 

1. Activist Ali Abu Awwad and pianist Daniel Barenboim win Indira Gandhi Peace: The Indira Gandhi Prize for Peace, Disarmament and Development for 2023 has been jointly awarded to Daniel Barenboim and Ali Abu Awwad for their efforts in bringing together the youth and peoples of Israel and the Arab World for a non-violent resolution of the Israel-Palestine conflict. The International Jury of the Indira Gandhi Prize for Peace, Disarmament and Development chaired by former Chief Justice of India T.S. Thakur.

 

2. Dr. Hemachandran Ravikumar honored with the Karmaveer Chakra Medal: Hemachandran Ravikumar was honored with the Karmaveer Chakra Medal and Rex Karmaveer Global Fellowship by ICONGO in collaboration with the United Nations in New Delhi These awards recognized Dr. Hemachandran Ravikumar’s exceptional contributions to Research & Development in Physical & Bio-Science and Microbiological Studies. The Rex Karamveer Chakra Medal, considered one of the most prestigious civilian honors, is reserved for individuals who have exhibited outstanding contributions globally towards the well-being of humanity.