Daily GK Update- 20th Dec, 2023

 

NATIONAL UPDATES:

 

1. IndiGo becomes first Indian airline to carry 100 mn pax in a single year: IndiGo became the first Indian airline to ferry over 100 million passengers within the span of a calendar year. This milestone represents a 22 per cent jump in passenger traffic as compared to 2022 when the airline ferried over 78 million passengers. IndiGo operates over 2,000 flights per day, and covers 86 domestic and 32 international destinations. It has introduced over 20 international flights across Central and Southeast Asia, Africa and West Asia this year.

 

2. Kuno Forest Festival commences in MP: The five-day Kuno Van Mahotsav was celebrated in Ranipura village on the outskirts of Sheopur district of Madhya Pradesh(17 - 21 December) The event also aims to advocate cheetah conservation by highlighting the diverse flora and fauna and the importance of the Kuno Forest It also includes local arts and crafts, folk music, dance forms and adventure sports 50 specially designed Swiss tents equipped with modern amenities have been installed in Ranipura for the festival

 

3. Quality of Living Index 2023 released by Mercer: Hyderabad (6th time) city attained the 153rd spot in the Quality of Living Index 2023. Pune (154th) has the second-best ‘quality of living’ in India. Quality of Living Index is based on different factors like Water Potability, Waste Removal, Sewage, Air Pollution, Water availability, Traffic Congestion. Vienna (Austria), Zurich (Switzerland) and Auckland (New Zealand) Copenhegan (Denmark) Geneva (Switzerland) are the top five cities in the Quality of Living Index 2023.

 

4. Kerala's Shaikh Hassan Khan Climbs Mount Vinson: Shaikh Hassan Khan, a 36-year-old Kerala government employee, has climbed Mount Vinson, the highest peak in Antarctica. This is the fifth peak that Shaikh Hasan Khan has conquered. Apart from Mount Vinson, Shaikh Hassan Khan has climbed four other highest peaks – Mount Everest (Asia), Mount Denali (North America), Mount Kilimanjaro (Africa), and Mount Elbrus (Europe). The aim of his campaign is to spread awareness about climate change happening in Antarctica.

 

5. IIT Madras Developed ‘AMRIT’ Technology: IIT Madras developed ‘AMRIT’ technology for removing Arsenic and Metal ions from water. ‘AMRIT’ uses nano-scale iron oxy-hydroxide. It removes arsenic when water is passed through it. This water purifier technology has been developed for both domestic as well as community levels. This technology has been recommended by the ‘Standing Committee’ of the Department of Drinking Water and Sanitation for the examination of the best technologies related to water and sanitation.

 

6. PM Modi inaugurates second Delhi-Varanasi Vande Bharat Express: Prime Minister Narendra Modi has inaugurated the second Vande Bharat Express on the Delhi-Varanasi route. The train will depart from Varanasi at 6 am, reaching New Delhi at 2:05 pm every Wednesday to Monday. For its return journey to Varanasi, it will start from New Delhi at 3 pm and reach its destination at 11:05 pm on all days except Tuesday. Enhancing passenger comfort with innovative features the Vande Bharat Express offers superior passenger amenities, including onboard Wi-Fi infotainment, a GPS-based passenger information system, plush interiors, bio-vacuum toilets with touch-free conveniences, diffused LED lighting, charging points beneath every seat, individual touch-based reading lights, and concealed roller blinds.

 

INTERNATIONAL UPDATES:

 

1. UN announces 2024 as International Year of Camelids: The United Nations has declared the year 2024 as the International Year of the Camelids to highlight the importance of camelids in the lives of people around the world. Aims: To create awareness about the untapped potential of Camelids and strive to increase investment in the Camelids sector through research, capacity development and use of innovative practices and technologies. These camels are found in more than 90 countries of the world.

 

2. 20 December – International Human Solidarity Day: International Human Solidarity Day (IHSD) is observed every year on December 20. Objective – To raise public awareness regarding the importance of solidarity. It highlights the goal of the United Nations and its member states to encourage new initiatives for poverty eradication. It encourages debate on the ways to promote solidarity for the achievement of the Sustainable Development Goals (SDGs). In the Millennium Declaration, published on September 18, 2000, ‘solidarity’ is identified as one of the fundamental values of international relations in the 21st century. On December 20, 2002, the United Nations General Assembly (UNGA) established the World Solidarity Fund intending to eradicate poverty and promote human and social development in developing nations, especially among the poorest segments of their populations. It was set up as a trust fund of the United Nations Development Programme in February 2003.

 

OTHER UPDATES:

DEFENCE

 

1. IIT Kanpur Signed MoU with Indian Navy: The Indian Navy signed a  MoU with IIT Kanpur to promote innovation at Naval Headquarters in New Delhi. This will be helpful in enhancing the capacity of both sides and providing solutions to regional issues. This agreement reflects the commitment of both organizations to promote technology development, innovative solutions and joint research and development.

 

 

 

 

 

SPORTS

 

1. Starc breaks Cummins' record with monster IPL payday: Australians Pat Cummins and Mitchell Starc broke all records at the Indian Premier League 2024 auction in Dubai. Pat Cummins went to Sunrisers Hyderabad for ₹20.50 crore. while Mitchell Starc was signed by Kolkata Knight Riders for a whopping amount of ₹24.75 crore. A total of 10 franchises may collectively spend 262.95 crore rupees in a paced bidding war. The highest amount in the purse is with Gujarat Titans (GT) with 38.15 crore rupees.

 

2. Sandeep Kumar claimed MRF Formula 2000 crown: Sandeep Kumar won the MRF Formula 2000 title in the MRF MMSC FMSCI Indian National Car Racing Championship 2023 at the Madras International Circuit. While Chetan Surnineni won the MRF Formula 1600 title Also picking up the National titles in their respective categories were Gurunath Meiyappan (Race Concepts, Indian Touring Cars), Deepak Ravikumar (Performance Racing, Indian Junior Touring Cars) and T.S. Diljith (DTS Racing, Super Stock and Formula LGB 1300).

 

BANKING AND FINANCE

 

1. IMF: India expected to contribute over 16% to global growth: The International Monetary Fund (IMF) has said India’s economic reforms have helped the nation become a star performer, contributing over 16% to global growth. According to which the South Asian country, underpinned by prudent macroeconomic policies, is on track to be one of the fastest-growing major economies in the world this year. India’s economy has rebounded strongly from the pandemic to become an important driver of global growth.

 

2. SBI to Sign 70 Million Euro Loc With Kfw: SBI signed a 70 million euro (approximately Rs 630 crore) Line of Credit (LoC) with KfW. The LoC with German Development Bank KfW is for promoting solar project in the country. The agreement has been signed  at the bank’s IFSC Gift City Branch in Ahmedabad. LoC aims to support Solar Photovoltaics (PV) projects in India. SBI has shown a 9.13% growth in consolidated net profit for the September quarter.

 

AWARDS AND HONOURS

 

1. Reliance Nippon Life Insurance won National Energy Conservation Awards: Reliance Nippon Life Insurance, India’s leading private life insurer, has been recognized by the Bureau of Energy Efficiency (Government of India, Ministry of Power) at the National Energy Conservation Awards (NECA) 2023. This prestigious award comes in recognition of the company’s efforts towards institutionalizing climate-friendly operations and driving sustainable business growth. This recognition highlights the company’s investment in environmentally conscious technologies that aid in optimizing resource utilization and energy efficiency. The company’s scale of operations allows it to harness these advantages for benefits at large scale and pass on operating efficiencies to customers through its new line of products.

Daily GK Update- 19th Dec, 2023

 

NATIONAL UPDATES:

 

1. Goa Liberation Day 2023:19th December: Goa Liberation Day is very important as it marks the official liberation and integration of Goa into the Indian Union in 1961. On this unique day, there is a sense of pride and independence in the air as the golden sun rises over the beautiful state of Goa. Liberation Day in Goa is a historic event that resonates with resilience and freedom.

 

2. Piyush Goyal released Logistics Ease Across Different State (LEADS) 2023: Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Piyush Goyal has released the “Logistics Ease Across Different State (LEADS) 2023” report in New Delhi.

The 5th edition of the LEADS annual exercise – LEADS 2023 report, provides insights into improvement of logistics performance at State/UT level. This report, signalling a positive shift in States’ performance across the key pillars – Logistics Infrastructure, Logistics Services and Operating and Regulatory Environment, empowers the State/UT Governments by providing region-specific insights for informed decision-making and comprehensive growth. This report is based on a pan-India primary survey, conducted between May and July 2023, covering over 7,300 responses across 36 States/UTs.

 

3. PM Modi inaugurates Kashi Tamil Sangamam 2.0 in Varanasi: Prime Minister Narendra Modi has inaugurated the second edition of the Kashi Tamil Sangamam at Namo Ghat in Varanasi. He also flagged off the Kashi Tamil Sangamam Express between Varanasi and Kanyakumari. The second edition of the Kashi Tamil Sangamam (KTS) will be held between December 17 to 30, 2023 and is part of the government’s ‘Ek Bharat Shreshtha Bharat Yuva Sangam programme.’ The overarching objective of this people-to-people connect programme is to revive the living bonds between Kashi and Tamil Nadu – two important centres of learning and culture in ancient India. It aims to bring these two traditions of knowledge and culture closer together while building an understanding of shared heritage and strengthening ties between the people of these two regions.

 

INTERNATIONAL UPDATES:

 

1. Abdel Fattah El-Sisi wins third term as president of Egypt: Egypt’s election authority announced that President Abdel Fattah El-Sisi has secured a third six-year term leading the North African nation. Sisi won another term with 89.6 percent of the vote, the National Elections Authority said. Over 39 million Egyptians voted for the former army chief, who has ruled the nation for over a decade. This will be Sisi’s final term in office as the Egyptian constitution only allows a president to sit for three terms.

 

 

OTHER UPDATES:

 

SPORTS

 

1. Khelo India Games to be Held in Tamil Nadu: Khelo India Games will be held in Tamil Nadu (Chennai, Coimbatore,Madurai and Trichy) from 19 to 31 January, 2024. More than 5,500 sports persons and over 1,600 coaches are expected to participate in the event. More than 1000 referees and 1200 volunteers will be part of the sporting event in which 27 types of sport will be played. For the first time, squash will be included in Khelo India games.

 

2. Bangladesh Clinches First U-19 Asia Cup 2023, Beating UAE: Bangladesh crushed UAE by 195 runs to win the Under-19 Asia Cup in Dubai on December 17. Opening the batting, Ashiqur smashed 12 fours and one six in his knock of 129 (149 balls) as Bangladesh posted 282/8 after hosts UAE opted to field. In reply, UAE surrendered meekly to fold up for 87 in 24.5 overs as Bangladesh clinched the eight-nation tournament with five wins from as many games.

 

3. Haryana Won 2023-24 Vijay Hazare Trophy: Haryana won the Vijay Hazare Trophy 2023 title for the first time by defeating Rajasthan by 30 runs. Haryana's Sumit Kumar was chosen player of the match in the final match. Vijay Hazare Trophy is known as Ranji One Day Trophy. The most runs in the tournament have been scored by Arsalan Khan (508) of the Chandigarh team while the most wickets have been taken by Varun Chakraborty (19) of the Tamil Nadu team.

 

4. Sourav Kothari clinched maiden Senior National Snooker title: Sourav Kothari of Petroleum Sports Promotion Board (PSPB) won his maiden Senior National 15-Red snooker title, beating Paras Gupta of Uttar Pradesh 6-2 in the final. Kothari beat Md Hussain Khan (RSPB) 5-0 in the semifinals and prevailed over Gupta 58-46, 72-34, 0-64, 59-25, 61-54, 21-57, 64-8, 64-25 in the final. He had defeated his PSPB colleague Advani in the round of 32. Kothari is a former national billiards champion, and last month finished runner-up to Advani in the IBSF world billiards final in Doha.

 

5. Haryana emerges best as Khelo India Para Games end with a bang: The first edition of the Khelo India Para Games concluded at New Delhi. Haryana bagged top honours with a total of 105 medals including 40 gold, 39 silver and 26 bronze medals. Finishing second was Uttar Pradesh, with a total of 62 medals, including 25 gold, 23 silver and 14 bronze. Tamil Nadu finished third with 20 gold, eight silver and 14 bronze medals. Over 1,400 para-athletes from 32 states and Union Territories participated in the Khelo India Para Games which saw events in seven disciplines.

 

 

 

 

BANKING AND FINANCE

 

1. IndusInd Bank introduces ‘Indus Solitaire Program’ for the Diamond Industry: IndusInd Bank has introduced its ‘Indus Solitaire Program,’ a community banking initiative meticulously crafted for the diamond industry. This curated banking program will be offered through the bank’s flagship branches in prime locations across various cities with a concentration in Mumbai and Surat. It will also provide a range of exclusive benefits along with distinct features and enriched offerings to customers in the diamond industry. Through the ‘Indus Solitaire Program’, IndusInd Bank is all set to offer a whole gamut of tailored banking services for the diamond industry, that includes 24*7 locker access at specific branches, add-on family accounts, debit and credit cards that come with membership benefits at top-tier hotels, concierge services, complimentary golf lessons and movie tickets, zero cross-currency markup fee on foreign exchange, complimentary lounge access, along with an appealing rewards structure and overseas hospitalization coverage on credit cards and customized diamond industry employee salary account.

 

2. Kotak Mahindra Bank partners with IIT Kanpur to launch Kotak School of Sustainability: The Indian Institute of Technology, Kanpur (IIT-K) has partnered with Kotak Mahindra Bank Ltd to launch of Kotak School of Sustainability. The collaboration aims to provide leadership solutions for sustainability and prepare future generations to champion the cause of sustainable development. The Kotak School of Sustainability is touted as India’s first full integrated institution dedicated to sustainability education. Funded by Kotak Mahindra Bank through its Corporate Social Responsibility (CSR) program, the school is poised to play a crucial role in shaping the future of sustainability initiatives in the country. It will have dedicated centres of excellence (COEs) covering different aspects of sustainability such as clean energy, environment, ecology, circular economy, climate finance, sustainable societies and policy. The total project cost is around Rs 200 crore. Kotak will be contributing Rs 70 crore in the first phase.

 

3. Reliance General Insurance unveils ‘Reliance Health Global’: Reliance General Insurance Company (RGICL) has introduced “Reliance Health Global,” a healthcare policy designed to bring global healthcare within reach for Indians. The policy extends coverage not only within India but worldwide, providing a seamless experience for individuals accustomed to a global lifestyle and seeking access to top-notch healthcare services and infrastructure. Reliance Health Global boasts a range of unparalleled features, reshaping the health insurance landscape. Beyond its comprehensive coverage for overseas treatment, including critical illnesses like Cancer and Bypass Surgery, the policy stands out for its exceptional domestic coverage. The company further informed that in addition to planned hospitalization, the policy encompasses travel, accommodation, and end-to-end Visa and Assistance Services, addressing emergencies such as Lost Passport or Emergency Cash.

 

 

 

AWARDS AND HONOURS

 

1. Israeli film ‘Children of Nobody’ won Best film award at KIFF Festival: Israeli film ‘Children of Nobody’ directed by Erez Tadmor, has won the Best Film award under International Competition in Innovation Moving Images at the 29th Kolkata International Film Festival (KIFF). The prize distribution and closing ceremony were held at Rabindra Sadan. 219 films from 39 countries were screened at 23 locations across Kolkata. The Best Director award was bagged by Carlos Daniel Malave. Anjan Dutta’s ‘Chalchitro Ekhon’ bagged the Special Jury Award. Director duo Sharmistha Maity and Rajdeep Paul’s ‘Mon Potongo’ was awarded best film under Bengali Panorama category. For the best film ‘Royal Bengal Tiger Trophy’ 51 lakh rupees were given as an award.

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: