Daily GK Update- 8th Dec, 2024

 NATIONAL UPDATES:

 

1. U.S. approves $1.17 billion deal for support systems for MH-60R helicopters: The United States has approved a possible $1.17 billion deal to sell India support equipment for MH-60R multi-role helicopters under its Foreign Military Sales programme.Nine of the 24 choppers contracted under a $2.2 billion deal with Lockheed Martin in February 2020 have been inducted into India’s armed services so far.The Indian Navy has already received six MH-60R helicopters which are deployed in Kochi with the same configuration used by the US Navy. The remaining 18 helicopters will include customised configurations to meet Indian requirements.The MH-60R helicopters have emerged as a major force multiplier for the Indian Navy amidst the growing challenges from China and Pakistan in the Indian Ocean Region (IOR).

 

2. MS Dhoni joins Eurogrip Tyres as Brand Ambassador: Eurogrip Tyres, a leading brand specialising in two-wheeler, three-wheeler, and off-highway tyres, has appointed cricket legend Mahendra Singh Dhoni as its brand ambassador.As part of this collaboration, Dhoni will endorse the Eurogrip brand and its entire product portfolio.TVS Srichakra Ltd, the manufacturer of Eurogrip, TVS Eurogrip, and TVS Tyres, was established in 1982 and operates as a key vertical of the USD 3 billion TVS Mobility.

 

3. India  Chairs 68th Commission on Narcotic Drugs: India has been selected to  chair the 68th session of the Commission on Narcotic Drugs (CND). This announcement was made by the Indian Embassy in Austria. Ambassador Shambhu S Kumaran has officially assumed the role of Chairman, which marks India’s first time leading this UN forum. The CND will concentrate on global cooperation against drug trafficking. It will address substance abuse and its social impacts. The focus includes health impacts related to drug use. Ensuring the availability of controlled substances for medical use is also a priority. India aims to promote dialogue on these issues.India plans to work closely with other member states. The goal is to create fair and inclusive strategies.

INTERNATIONAL UPDATES:

 

1. International Gita Mahotsav 2024 inaugurated in Kurukshetra: The Haryana Chief Minister Nayab Singh Saini has inaugurated the International Gita Mahotsav at Kurukshetra, Haryana.The International Gita Mahotsav commemorates the birth of ‘Srimad Bhagwat Gita’, the sacred scripture containing advice of Lord Krishna that he gave to Arjuna in Kurukshetra on the first day of the famous 18-day battle in the Mahabharata.The annual International Gita Mahotsav is organised by the Kurukshetra Development Board of Haryana Tourism in collaboration with the Government of Haryana.This year, Tanzania, an African country, is the foreign partner country, and Odisha is the State partner.

 

2. India’s IndiGo ranked among ‘world’s worst airlines’ in survey: According to the report, IndiGo has been ranked among the “world’s worst airlines” in the 2024 AirHelp Score report, securing 103rd place out of 109 with a score of 4.80. The low rating is attributed to underwhelming customer satisfaction and poor handling of flight disruption claims.Meanwhile, Tata’s Air India fares slightly better, standing at 61st. At the top of the list, Brussels Airlines has been named the best airline, followed by Qatar Airways.Conducted by AirHelp, an EU-based claim processing agency, the survey evaluates airlines globally on punctuality, quality of service, and handling of compensation claims. These criteria weighed equally, form the overall score.The analysis covers data from January to October, incorporating on-time performance, customer claims processing, and feedback from passengers across 54 countries on food, comfort, and service.

 

3. Human-Cape Buffalo Conflicts in Tanzania: Recent studies in Tanzania’s  Ngorongoro Conservation Area (NCA) reveal the escalating conflicts between humans and Cape buffaloes. The Cape buffalo, an aggressive species, faces population decline, currently listed as Near Threatened. Between 1999 and 2014, its numbers fell by 18%. The global population is now estimated at 569,000-573,000, with about 398,000 being mature. Human-buffalo conflicts arise from several factors including increasing human populations, habitat loss, changes in land use, buffaloes invading farmland, and,  damaging crops, which leads to confrontations with local farmers. Additionally, poaching exacerbates the situation, resulting in approximately 200 people losing their lives in these encounters.

 

4. International Advisory Body for Submarine  Cable Resilience: Submarine telecommunication  cables are vital for global connectivity, and carry approximately 99% of internet traffic, which supports essential services like commerce, healthcare, and education. However, they are susceptible to damage and each year, around 150-200 faults occur globally. Common causes include fishing activities, anchoring, natural disasters, and equipment malfunctions. The Advisory Body focuses on promoting best practices among governments and industries. Its goals include improving cable resilience, minimizing damage risks, and expediting repairs. The group will also address increasing internet traffic, aging infrastructure, and environmental threats.

OTHER UPDATES:

DEFENCE

 

1. India-Vietnam Hold 3rd Security Dialogue: India and Vietnam recently held the 3rd  Security Dialogue in Hanoi to strengthen their partnership and focus on global and regional security issues. Pavan Kapoor represented India as Deputy National Security Adviser and Lt. Gen. Pham The Tung represented Vietnam as Deputy Minister of Public Security. They led discussions on various security topics. The dialogue addressed several critical areas including terrorism and organized crime were high on the agenda. Both nations emphasized the need for improved information sharing. They recognized that collaboration is essential for effective law enforcement.Economic security issues were also a focal point. Both countries agreed to work together on new technologies. Combating cybercrime emerged as a concern. They acknowledged the importance of staying ahead in technological advancements.

 

BANKING AND FINANCE

 

1. UPI rule changes: UPI Lite transaction, wallet limit hiked: The Reserve Bank of India (RBI) has increased the transaction limit for offline digital payments through UPI Lite. The move can benefit many people, especially those who live in places with poor internet connectivity. UPI Lite transactions are offline in the sense that there is no need to enter a UPI PIN while making payments.The RBI has hiked the per-transaction limits on UPI Lite from Rs 500 to Rs 1,000. The overall wallet limit of UPI Lite has also been raised from Rs 2,000 to Rs 5,000.UPI Lite is designed to enable instant, low-value offline payments which form the bulk of retail payments made across India.Customers can use the replenishable balance to make cashless payments for any low-value item from Kirana stores, pharmacies, restaurants, shops, fuel retail outlets, and more.

 

2. BharatPe launches ‘Shield’ to protect users from digital transaction frauds: Fintech firm BharatPe has launched a fraud protection plan ‘Shield’ to offer coverage against digital frauds, including protection against fraudulent Unified Payments Interface (UPI) transactions.The new offering extends protection to users from fraudulent digital transactions up to Rs 5,000. Users will have to pay Rs 19 per month to avail this protection.Users making their first UPI transaction with the fintech app will receive 30 days of complementary fraud protection service.BharatPe Shield covers risks such as computer fraud, phishing attacks, and unauthorised transactions caused by phone loss. It enables claims for losses incurred up to 10 days prior to reporting such frauds.

 

AWARDS AND HONOURS

 

1. EPFO services win India international award: India has bagged the International Social Security Association’s (ISSA) ‘Good Practice Award’ for Asia and Pacific for this year for five services provided by the Employees’ Provident Fund Organisation (EPFO).ISSA president Dr Mohammed Azman presented the award to the EPFO at the Regional Social Security Forum held in Riyadh, Saudi Arabia.The Employees’ Provident Fund Organization (EPFO) received five certificates of merit for communication channels, E-proceedings: A case on the use of information and communication technology in justice delivery, district outreach programme (Nidhi Aapke Nikat), multilingual call centres, and Prayaas —The EPFO received five ‘Certificates of Merit’ for running ‘efficient’ communication channels, conduct of E-proceedings, outreach programme Nidhi Aapke Nikat, running multilingual call centres, and pension order delivery initiative Prayaas.

 

2. Michelle Bachelet Wins 2024 Indira Gandhi Prize for Peace, Disarmament, and Development: Michelle Bachelet, former president of Chile, has been awarded the 2024 Indira Gandhi Prize for Peace, Disarmament, and Development, by the Indira Gandhi Memorial Trust. The jury, led by Shivshankar Menon, selected Bachelet for her outstanding contributions to human rights and equality. Bachelet served as Chile’s president from 2006 to 2010 and again from 2014 to 2018. Her presidency focused on reforms in education and taxation. She played a key role in establishing a free trade agreement between India and Chile.

 

Daily GK Update- 7th Dec, 2024

 NATIONAL UPDATES:

 

1. Nafithromycin: Country’s First Indigenous Antibiotic: India has led the way with the creation of Nafithromycin, the country’s first indigenous Macrolide antibiotic. This remarkable achievement marks a pivotal moment in the fight against antimicrobial resistance, showcasing India’s growing capabilities in pharmaceutical innovation.Developed by Wockhardt with support from the Biotechnology Industry Research Assistance Council (BIRAC), Nafithromycin (marketed as “Miqnaf,”) targets Community-Acquired Bacterial Pneumonia (CABP) caused by drug-resistant bacteria, which disproportionately affects vulnerable populations such as children, the elderly, and those with compromised immune system.Nafithromycin’s development marks a historic milestone as the first new antibiotic in its class to be introduced globally in over 30 years. It was developed with an investment of Rs 500 crore.

 

2. NeGD and ISB launch “Digital Transformation for Senior Leaders” Training Program to empower government officials: The National e-Governance Division (NeGD) under the Ministry of Electronics and Information Technology (MeitY), in collaboration with the Indian School of Business (ISB), Mohali, inaugurated a five-day training program titled “Digital Transformation for Senior Leaders”.This program is a pivotal initiative under the Digital India mission aimed at equipping senior government officials with critical knowledge and skills to lead digital transformation across various governance domains.This initiative focuses on fostering leadership capable of spearheading citizen-centric digital governance. Key areas covered include strengthening digital frameworks to deliver quality public services, enhancing cybersecurity to protect digital ecosystems, and building digital leadership skills for transformational project management.

 

INTERNATIONAL UPDATES:

 

1. U.S. approves $1.17 billion deal for support systems for MH-60R helicopters: The United States has approved a possible $1.17 billion deal to sell India support equipment for MH-60R multi-role helicopters under its Foreign Military Sales programme.Nine of the 24 choppers contracted under a $2.2 billion deal with Lockheed Martin in February 2020 have been inducted into India’s armed services so far.The Indian Navy has already received six MH-60R helicopters which are deployed in Kochi with the same configuration used by the US Navy. The remaining 18 helicopters will include customised configurations to meet Indian requirements.The MH-60R helicopters have emerged as a major force multiplier for the Indian Navy amidst the growing challenges from China and Pakistan in the Indian Ocean Region (IOR).

 

2. International Gita Mahotsav 2024 inaugurated in Kurukshetra: The Haryana Chief Minister Nayab Singh Saini has inaugurated the International Gita Mahotsav at Kurukshetra, Haryana.The International Gita Mahotsav commemorates the birth of ‘Srimad Bhagwat Gita’, the sacred scripture containing advice of Lord Krishna that he gave to Arjuna in Kurukshetra on the first day of the famous 18-day battle in the Mahabharata.The annual International Gita Mahotsav is organised by the Kurukshetra Development Board of Haryana Tourism in collaboration with the Government of Haryana.This year, Tanzania, an African country, is the foreign partner country, and Odisha is the State partner.

 

3. India’s IndiGo ranked among ‘world’s worst airlines’ in survey: According to the report, IndiGo has been ranked among the “world’s worst airlines” in the 2024 AirHelp Score report, securing 103rd place out of 109 with a score of 4.80. The low rating is attributed to underwhelming customer satisfaction and poor handling of flight disruption claims.Meanwhile, Tata’s Air India fares slightly better, standing at 61st. At the top of the list, Brussels Airlines has been named the best airline, followed by Qatar Airways.Conducted by AirHelp, an EU-based claim processing agency, the survey evaluates airlines globally on punctuality, quality of service, and handling of compensation claims. These criteria weighed equally, form the overall score.The analysis covers data from January to October, incorporating on-time performance, customer claims processing, and feedback from passengers across 54 countries on food, comfort, and service.

 

4. 5 December – International Volunteer Day: International Volunteer Day, commonly known as IVD, is celebrated on 5 December every year.It is a day where volunteers are acknowledged and the spirit of volunteerism is promoted at the local, national and international levels.Theme 2024 – Volunteer Now for Our FutureIt started as an international observance mandated by the United Nations General Assembly in 1985.United Nations Volunteers joins IVD celebrations with UN Volunteers and all volunteers around the world—amplifying the importance of people-led solutions to our common challenges.

 

OTHER UPDATES:

DEFENCE

 

1. 4 December – Indian Navy Day: Indian Navy Day is celebrated every year on 4th December to honor the achievements and dedicated service of the Indian Navy.The day celebrates the success of Operation Trident conducted during the 1971 Indo-Pak war.On this day, the Navy launched a successful attack on Pakistan’s key port city, Karachi. This operation not only marked a major military victory but also showcased India’s growing naval power and influence.The theme for Indian Navy Day 2024, “Strength and Power through Innovation and Indigenisation,” reflects the Navy’s ongoing focus on enhancing its defense capabilities through cutting-edge technology and self-reliance.

 

 

 

 

SPORTS 

 

1. MS Dhoni joins Eurogrip Tyres as Brand Ambassador: Eurogrip Tyres, a leading brand specialising in two-wheeler, three-wheeler, and off-highway tyres, has appointed cricket legend Mahendra Singh Dhoni as its brand ambassador.As part of this collaboration, Dhoni will endorse the Eurogrip brand and its entire product portfolio.TVS Srichakra Ltd, the manufacturer of Eurogrip, TVS Eurogrip, and TVS Tyres, was established in 1982 and operates as a key vertical of the USD 3 billion TVS Mobility.

 

BANKING AND FINANCE

 

1. SEBI imposes Rs 9 lakh fine on Reliance Securities for ‘flouting market norms’: The Securities and Exchange Board of India (SEBI) has imposed a Rs.9 lakh monetary penalty on Reliance Securities for “flouting market norms” and stock broker rules.The market regulator’s order came after National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) carried out a thematic onsite inspection of the books of accounts, records and other documents of authorised persons (APs) of Reliance Securities Ltd (RSL).The inspection was conducted to ascertain whether the same are being maintained in the manner required by RSL, concerning provisions of stock brokers rules, NSEIL Capital Market (CM) regulations and NSE Future & Options (FO) trading norms.

 

2. UPI rule changes: UPI Lite transaction, wallet limit hiked: The Reserve Bank of India (RBI) has increased the transaction limit for offline digital payments through UPI Lite. The move can benefit many people, especially those who live in places with poor internet connectivity. UPI Lite transactions are offline in the sense that there is no need to enter a UPI PIN while making payments.The RBI has hiked the per-transaction limits on UPI Lite from Rs 500 to Rs 1,000. The overall wallet limit of UPI Lite has also been raised from Rs 2,000 to Rs 5,000.

 

3. World Bank approves $188 million loan to Maharashtra to stimulate growth in backward districts: The World Bank has approved a $188.28-million loan to stimulate economic growth in Maharashtra, especially in the lagging districts.The $188.28 million Maharashtra Strengthening Institutional Capabilities in districts for enabling growth operation will support district planning and growth strategies.Investments under the operation will equip districts with the necessary data, funds and expertise to maximise the value of public money employed for driving growth and job creation. It will also enhance private sector participation by improving e-government services for businesses in districts, especially in the tourism sector.The $188.28-million loan from the International Bank for Reconstruction and Development (IBRD) has a final maturity of 15 years, including a grace period of 5 years.

 

4. BharatPe launches ‘Shield’ to protect users from digital transaction frauds: Fintech firm BharatPe has launched a fraud protection plan ‘Shield’ to offer coverage against digital frauds, including protection against fraudulent Unified Payments Interface (UPI) transactions.The new offering extends protection to users from fraudulent digital transactions up to Rs 5,000. Users will have to pay Rs 19 per month to avail this protection.Users making their first UPI transaction with the fintech app will receive 30 days of complementary fraud protection service. BharatPe Shield covers risks such as computer fraud, phishing attacks, and unauthorised transactions caused by phone loss. It enables claims for losses incurred up to 10 days prior to reporting such frauds.

 

AWARDS AND HONOURS

 

1. SECI wins 3rd PSU transformation award for “Innovative Product Development”: Solar Energy Corporation of India (SECI) Ltd under Ministry of New and Renewable Energy bagged the 3rd PSU Transformation Award under the “Innovative Product Development” category for ‘Firm and Dispatchable RE (FDRE) Supply to DISCOMs on a Demand Following Basis’.The award was received by Shri Sanjay Sharma, Director (Solar) along with Shri Joshit Ranjan Sikidar, Director (Finance) and Shri Sivakumar V Vepakomma, Director (Power System) in the presence of Shri Ajay Kumar Sinha, General Manager (Corporate Planning) and other officials of SECI. SECI has introduced the innovative power supply model of Firm and Dispatchable RE (FDRE) working with several DISCOMs and States to understand their energy demands and design models that cater to their renewable power requirement.

 

2. EPFO services win India international award: India has bagged the International Social Security Association’s (ISSA) ‘Good Practice Award’ for Asia and Pacific for this year for five services provided by the Employees’ Provident Fund Organisation (EPFO).ISSA president Dr Mohammed Azman presented the award to the EPFO at the Regional Social Security Forum held in Riyadh, Saudi Arabia.The Employees’ Provident Fund Organization (EPFO) received five certificates of merit for communication channels, E-proceedings: A case on the use of information and communication technology in justice delivery, district outreach programme (Nidhi Aapke Nikat), multilingual call centres, and Prayaas —The EPFO received five ‘Certificates of Merit’ for running ‘efficient’ communication channels, conduct of E-proceedings, outreach programme Nidhi Aapke Nikat, running multilingual call centres, and pension order delivery initiative Prayaas.

 

 

Daily GK Update- 6th Dec, 2024

 NATIONAL UPDATES:

 

1. MOU renew between MEA and Department of Posts for Post Office Passport Seva Kendra Service Enhancement: In a significant development, an MoU was renewed for five years between the Ministry of External Affairs (MEA) and the Department of Posts for the continued accessibility of passport services through the Post Office Passport Seva Kendras (POPSKs).Launched in 2017, the Post Office Passport Seva Kendras (POPSKs) service has been instrumental in facilitating passport-related services to over 1.52 Crore citizens, particularly in rural and underserved areas, ensuring wider accessibility to passport services for citizens across India.The network of Post Office Passport Seva Kendras (POPSKs) has grown significantly over the years, with 442 centres currently operational nationwide.As part of this initiative, the number of Passport Seva Kendra’s is planned to be extended to 600 centres across the country by 2028-29, ensuring greater accessibility and convenience for citizens expanding the annual customer base from 35 lakh to 1 crore over the next five years.

 

2. Govt launches ‘Anna Chakra’ platform to optimise PDS supply chain: Food and Consumer Affairs Minister Pralhad Joshi has unveiled ‘Anna Chakra’, a groundbreaking supply chain optimization tool for the Public Distribution System (PDS).Developed in partnership with the World Food Programme and IIT-Delhi, the system leverages advanced algorithms to optimize foodgrain movement across the country’s logistics network.The initiative covers 4.37 lakh Fair Price Shops and 6,700 warehouses, targeting the country’s food security programme serving 81 crore beneficiaries.Preliminary assessments across 30 states project annual cost savings of Rs 250 crore with a Rs 58-crore reduction in quantity-kilometer metrics.The tool integrates with the Railways’ Freight Operations Information System and the PM Gati Shakti platform, marking a significant technological upgrade.

 

3. Centre approves ₹50 lakh grants each for 7 startups in technical textiles to boost innovation and sustainability: The Ministry of Textiles has approved the startups in Technical Textiles to boost innovation and sustainability and to foster transformative developments that will shape the industry’s future.Secretary of the Ministry of Textiles Rachna Shah has said this while chairing the 7th meeting of the Empowered Programme Committee of the National Technical Textiles Mission in New Delhi.The National Technical Textiles Mission’s Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles encourages young innovators, scientists, technologists, and startup ventures in the field of Technical Textiles to translate their ideas into commercial products and make India self-reliant.The Empowered Programme Committee has approved 7 startup proposals under the GREAT scheme. The Government is providing a maximum fund support of Rs 50 lakhs per startup.

 

4. India, ADB sign $50 million loan for climate-resilient water security in Meghalaya: The Government of India and the Asian Development Bank (ADB) have signed a $50 million loan agreement to strengthen water security in Meghalaya by constructing climate-adaptive water-harvesting systems.The initiative aims to improve access to water, reduce community vulnerability to climate change, and promote sustainable development in the state.The project aligns with the Meghalaya State Water Policy (MSWP) 2019, which seeks to achieve sustainable development, management, and utilisation of the state’s water resources through a participatory approach, reduce vulnerability, and promote integrated water resource management.The project will support the construction of 532 small water storage facilities across 12 districts. These facilities will incorporate climate-resilient designs to capture and manage heavy rainfall and flash floods during monsoon season. The stored water shall improve water security during the dry season.

 

5. Devendra Fadnavis sworn in as Maharashtra CM for 3rd time: Bharatiya Janata Party’s (BJP) Devendra Gangadharrao Fadnavis was sworn in as the Chief Minister of Maharashtra for the third time.In a ceremony held at the Azad Maidan of Mumbai, Governor C P Radhakrishnan administered the oath of office to Devendra Fadnavis.Along with Devendra Fadnavis, two deputy Chief Ministers, Eknath Shinde of Shiv Sena and Ajit Pawar of the Nationalist Congress Party, were also sworn in as deputy CM .He succeeded his alliance partner Eknath Shinde of the Shiv Sena as the new Chief Minister of Maharashtra.He was sworn in as the 21st Chief Minister of Maharastra and is the second Brahmin after Shiv Sena’s Manohar Joshi to be the Chief Minister of Maharashtra.BJP emerged as the largest party with 132 seats in the 288 Maharashtra Legislative Assembly.

 

INTERNATIONAL UPDATES:

 

1. India & Kuwait sign MoU to set up Joint Commission for Cooperation: India and Kuwait have signed an MoU to establish a Joint Commission for Cooperation at the Foreign Minister level to strengthen bilateral ties.The MoU was signed between both countries during Kuwait’s Foreign Minister Abdullah Ali Al Yahya’s visit. This was the first visit to India by Abdullah Ali Al Yahya as Kuwait’s Foreign Minister.The agreement outlines the formation of new Joint Working Groups in sectors including trade, investment, education, technology, agriculture, security, and culture, and these groups will operate under the JCC to review and monitor bilateral relations between the two nations.

 

2. India emerges as Prime Global Target for Mobile Malware Attacks: According to a recently published Zscaler ThreatLabz 2024 Mobile IoT and OT Threat report, India has emerged as the most targeted country for mobile malware attacks.The Report, published by the cloud security company Zscaler Inc., analysed security attacks by hackers on mobile and IoT/OT from June 2023 to May 2024.28 % of the attacks on mobile phones in the world were reported from India. After India, the United States was second, followed by Canada, South Africa, and the Netherlands.In the 2023 report, India was ranked third in the world after the United States and Canada. The United States remains the top target of Internet of Things (IoT) device attacks, followed by Singapore, the United Kingdom, Germany, and Canada.Within the Asia Pacific region, India accounted for 66.5% of mobile malware attacks. Within the Asia Pacific region, India was ranked seventh as the origin of the malware. Last year, it was ranked fifth.

 

3. Namibia elects Nandi-Ndaitwah as country’s first female President: Netumbo Nandi-Ndaitwah of Namibia’s ruling SWAPO party has been elected president and will be the country’s first female leader.Nandi-Ndaitwah, 72, is the current vice president. Her victory will extend SWAPO’s 34 years in power since it led Namibia to independence from apartheid South Africa in 1990.She received roughly 57 per cent of valid votes in the presidential race, according to a breakdown given by the Electoral Commission of Namibia. Nandi-Ndaitwah needed to secure more than 50 per cent of the votes to secure a win.She joined SWAPO in the 1960s when it was fighting for independence and has served in numerous senior roles including foreign minister in the democratic era.

 

4. 5 December – World Soil Day: World Soil Day (WSD) is observed every year on 5 December.Objective – To raise awareness about the critical role soil plays in our lives.Theme 2024 – Soil is LifeWorld Soil Day serves as a global reminder of the need to address soil health challenges. Initiated by the International Union of Soil Sciences in 2002 and officially endorsed by the United Nations Food and Agriculture Organization (FAO) in 2014, this observance calls for governments, communities, and individuals to take concrete steps toward sustainable soil management.

 

OTHER UPDATES:

DEFENCE

 

1. 2nd India-UK 2+2 Foreign and Defence Dialogue held in New Delhi: The second India and the United Kingdom 2+2 Foreign and Defence Dialogue was held in New Delhi.The first was held in New Delhi in October 2023, and both countries have agreed to hold their third Dialogue next year in the United Kingdom.The 2+2 Foreign and Defence Dialogue is different from the 2+2 Foreign and Defence Minister Dialogue.The 2+2 Foreign and Defence dialogue is a Senior official-level mechanism for discussing and reviewing all aspects of the India-UK Comprehensive Strategic Partnership.The 2+2 Foreign and Defence Minister Dialogue is a ministerial-level discussion just below in importance, the summit-level meeting between the Prime Ministers of India and the United Kingdom.

 

SPORTS 

 

1. Pavan Kampelli wins historic maiden Medal at Asian Esports Games: India’s Pavan Kampelli has made history by securing a bronze medal in eFootball at the 2024 Asian Esports Games held in Bangkok. Pavan Kampelli also nicknamed “Mr Tomboy”.Pavan Kampelli won a historic bronze medal for India in the e-football event. He defeated 2022 eFootball World Finals Winner (Mobile), Asgard Azizi of Indonesia, 2-1, to win the bronze medal.Pawan Kampelli won a $ 500 cash prize for his bronze medal win in the Games. Also, for the first time, an Indian has won a medal in an international e-football event.Nattawat Namburee of Team Thailand won the gold medal, and Malaysia’s Ahmad Muhaimin “Minbappe” Abdul Razak won the silver.Esports is becoming popular in the world, where players play games over the internet through electronic devices like mobile phones. gaming consoles etc.The International Olympic Committee will host the inaugural Olympic Esports Games in Saudi Arabia in 2025.

 

2. About Asian Esports Games and Final Medal Tally: The Asian Esports Games was organised by the Asian Electronic Sports Federation and was hosted by the Thailand Esports Federation with support from the Thailand government in Bangkok, ThailandOne hundred seventy-nine athletes from 29 countries from Asia participated in the Asian Esports Games.Thailand topped the medal chart with 2 gold medals.

 

3. India wins 5th Men’s Hockey Junior Asia Cup after Defeating Pakistan: The Indian Men’s Junior Hockey team crushed Pakistan 5-3 in the final of the 11th Men’s Hockey Junior Asia Cup 2024 to win the Men’s Hockey Junior Asia Cup title for a record fifth time.The 11th Men’s Hockey Junior Asia Cup 2024 final was played at Muscat, Oman.This was the fifth title win for the India team in the Men’s Hockey Junior Asia Cup. Before their win in the 2024 edition, the Indian team had won the title in 2023, 2015, 2008 and 2004.The title win in Muscat was also a promising start to the career of the legendary former Indian goalkeeper PR Sreejesh as the Men’s Hockey team coach.

 

4. About 11th Men’s Hockey Junior Asia Cup 2024: The 11th edition of the Men’s Hockey Junior Asia Cup 2024 was organised by the Asian Hockey Federation, the sports governing body in Asia.

It was hosted by the Oman Hockey Association in Muscat. The tournament was open to players under 21 years of age.Ten teams participated in the tournament and were grouped into A and B

Group A: India, Thailand, Chinese Taipei (Taiwan), South Korea and JapanGroup B: Pakistan, Malaysia, China, Oman and India progressed to the final by defeating Malaysia 3-1 in the semifinal, while Pakistan defeated Japan 4-2 in the other semifinals to reach the final.

 

BANKING AND FINANCE

 

1. India’s external debt rises by $31 bn to $647 bn in 2023: World Bank report: India’s total external debt has increased by $ 31 billion to $ 646.79 billion in 2023, according to World Bank International Debt Report.The report further said that interest payment increased from $ 15.08 billion in 2022 to $ 22.54 billion in 2023.While the long-term debt stocks have risen 7 per cent to $ 498 billion in 2023, short-term debt stocks declined marginally to $ 126.32 billion in 2023.According to the report, external debt stock as percentage of exports was 80 per cent, while debt servicing was 10 per cent of exports in 2023.The World Bank International Debt Report, 2024, further said that net debt inflows during the year worked out to be $ 33.42 billion, while the net equity inflows was higher at $ 46.94 billion in 2023.

 

2. India’s GDP growth aim for FY25 further slashed to 6.3% by Morgan Stanley: Morgan Stanley has again cut its GDP growth projection for India to 6.3 percent for this fiscal year, down from its earlier estimate of 6.7 per cent.This come days after India’s GDP slowed to a seven quarter low in the July-September quarter. Morgan Stanley had cut India’s growth target for FY25 to 6.7% earlier in November and ahead of the Q2 GDP data.India’s GDP growth slowed to 5.4 per cent year-on-year (YoY) in the July-September quarter of 2024, marking its lowest level since March 2023.This was below the 6.7 per cent growth seen in the previous quarter and also fell short of Morgan Stanley’s forecast of 6.3 per cent, as well as the consensus estimate of 6.5 per cent.

 

Daily GK Update- 5th Dec, 2024

 NATIONAL UPDATES:

 

1. Hyundai Motor Group ties up with IITs to advance battery, electrification research: Hyundai Motor Group has tied up with three IITs to establish a collaborative research system in the fields of batteries and electrification entailing an investment of USD 7 million over five years.The South Korean group, which has presence across multiple segments including mobility, has tied up with IIT Delhi, IIT Bombay and IIT Madras.Hyundai Motor Group plans to invest around USD 7 million over five years, from 2025 to 2029, to jointly conduct battery and electrification-related research with the IITs.As part of the collaboration, the Hyundai Center of Excellence (CoE), will be set up within IIT Delhi and would operate through sponsorships from Hyundai Motor Group.

 

2. Government Launches Training Program on Chemical and Petrochemical Industrial Safety: As part of the Viksit Bharat@2047 initiative, the Department of Chemicals and Petrochemicals has introduced its first training program on “Chemical and Petrochemical Industrial Safety” in Ahmedabad, Gujarat.The program, themed “Safety First, Sustainability Always: Protecting People and Planet,” was held at the Central Institute of Petrochemical Engineering & Technology (CIPET): Institute of Petrochemicals Technology (IPT).This program is part of a series of training initiatives organized by the Department of Industrial Chemical Safety to enhance safety and security across all identified Major Accident Hazard (MAH) units in the country. Currently, there are 2,393 such units. Over the next five years, a total of 48 training sessions will be conducted to address the needs of these units, with eight scheduled for the remainder of the current financial year.

 

3. DRI to celebrate 67 yrs of service: Fortifying India’s economic frontlines: On December 4, the Directorate of Revenue Intelligence (DRI), India’s premier investigative agency tasked with safeguarding the nation’s economic interests, celebrates its 67th year of establishment.Although the genesis of DRI can be traced to 1953 with the formation of the Central Revenue Intelligence Board, DRI was carved out as a specialised agency in 1957, with the primary objective of curbing the smuggling of goods, particularly contraband like gold, drugs, and other prohibited items.Operating under the Department of Revenue (DoR) until June 1970, DRI was placed under the Ministry of Home Affairs for a brief period before being assigned to the Cabinet Secretariat.In 1977, it was once again brought under the Ministry of Finance (DoR), where it continues to function today.

 

4. Bharatiya Vayuyan Vidheyak, 2024: A new bill, the Bharatiya Vayuyan Vidheyak, 2024, was introduced by Union Aviation Minister Kinjarapu Rammohan Naidu. This bill replaces the outdated Aircraft Act of 1934, which was passed in the Lok Sabha in August 2024. The bill responds to recommendations from the International Civil Aviation Organization (ICAO). The bill aims to resolve inconsistencies in current aviation laws, which seeks to create a clear regulatory framework. This clarity will promote ease of flying for passengers. Additionally, the new legislation aims to encourage foreign investment in the aviation sector. It aligns India’s aviation rules with global standards.

 

INTERNATIONAL UPDATES:

 

1. Supply chain council formed under Indo-Pacific agreement with US as Chair, India Vice-Chair: India signed the Supply Chain Resilience Agreement (Pillar-II) in November 2023 under the Indo-Pacific Economic Framework for Prosperity (IPEF), a 14-member plurilateral grouping in the region.The Agreement seeks to strengthen the supply chain crucial for national security and economic stability. The Agreement came into force on February 24, 2024.Under the Agreement, a Supply Chain Council (SCC) has been set up with the US as Chair and India as Vice-Chair.IPEF partners represent approximately 40 per cent of the global GDP, and 28 per cent of global goods and services trade, making it crucial for international trade dynamics.

 

2. China’s first atmospheric monitoring station in Antarctica begins operations: China has officially inaugurated its first overseas atmospheric background station in Antarctica, marking a major milestone in global climate research.The National Atmospheric Background Station began operations, offering critical data to support international efforts in addressing climate change.The station will carry out continuous, long-term monitoring of atmospheric components in the Antarctic. Its primary goal is to track shifts in concentrations of atmospheric elements and provide an accurate depiction of the region’s atmospheric composition.The station features a cutting-edge monitoring system encompassing seven meteorological categories, including ozone and aerosol measurements. This initiative builds on China’s existing network of nine national atmospheric background stations, with additional pilot stations beginning trial observations earlier this year.

 

3. Chennai to host the World Maritime Conference 2024: The World Maritime Conference 2024 will hold in Chennai from the 4th to 6th December. The Director General of Shipping Shyam Jagannathan will be the Guest of Honour.Internationally reputed speakers and panellists will discuss the future of the Global maritime scenario. The US, UK, Germany, Spain, and Asia Pacific Countries will participate in the discussions.This conference will be conducted in India after 15 years and will discuss various futuristic developments and present challenges in the Maritime World. The conference will be attended by more than 300 delegates from all over the World.

 

4. 4 December – International Day of Banks: International Day of Banks is observed every year on December 4.The day draws attention to the key functions that the banking system performs for the sustainable development of the countries and the globe as a whole. It commemorates the 2015 United Nations General Assembly resolution 74/245 which was passed on December 19, 2019.Theme 2024 – Empowering Sustainable Development Through Finance.The banks play an essential role in financial SDG projects in areas that include decent work and economic growth (SDG 8), business innovation (SDG 9), reduced inequality (SDG 10), and partnership for the delivery of the goals (SDG 17).It is common during financial crises for development banks to come in and provide all the funding that the private sector may lack.

 

OTHER UPDATES:

DEFENCE

 

1. India-UK 2+2 Foreign and Defence Dialogue: India and the UK recently convened the second 2+2 Foreign and Defence Dialogue in New Delhi, aimed to enhance their Comprehensive Strategic Partnership. High-level officials from both nations participated in the discussions. Advancing innovation in emerging technologies was brought into light. Both sides recognised the importance of collaboration in this field. Joint efforts could lead to technological advancements. Clean energy initiatives were discussed. Both countries seek to promote sustainable practices. Health cooperation was also a key topic, aiming to improve public health outcomes.

 

BANKING AND FINANCE

 

1. SBI Mutual Fund Unveils SBI Quant Fund: SBI Mutual Fund has launched the SBI Quant Fund, an open-ended equity scheme designed around a quant-based investing approach.The scheme aims to generate long-term capital appreciation through equity and equity-related instruments selected using an in-house quant model.Additionally, the scheme may invest up to 20% in mutual fund units and 35% in overseas securities, including ADRs, GDRs, ETFs, and foreign equity.The fund will be managed by Sukanya Ghosh and Pradeep Kesavan (dedicated fund manager for overseas securities).

 

2. Mahindra Finance and Magma HDI General Insurance Partner to Boost Financial Access for Emerging India: Mahindra Finance, a leading non-banking financial company (NBFC), has entered into a strategic corporate agency agreement with Magma HDI General Insurance Company, a rising name in India’s general insurance sector.This collaboration aims to provide a diverse range of tailor-made insurance solutions to Mahindra Finance customers, spanning motor and non-motor segments.By leveraging Mahindra Finance’s extensive rural reach and Magma HDI’s insurance expertise, the partnership aims to enhance customer experience etc.MD & CEO of Mahindra Finance- Raul RebelloMD & CEO of Magma HDI General Insurance – Rajive Kumaraswami

 

3. Over 43.30 lakh accounts opened under Mahila Samman Savings Certificate Scheme till Oct 31: The Mahila Samman Savings Certificate Scheme (MSSC) was launched in March 2023 exclusively for women and minor girls to promote financial independence by allowing attractive interest rates and to help achieve objectives of financial inclusion set by the government.In a written response to a question in Rajya Sabha, Union Minister of State for Finance Shri Pankaj Chaudhary said that 43,30,121 accounts have been opened under the scheme as of October 10, 2024.The scheme was launched by the Government to promote financial independence of the woman of the country by allowing attractive rate of interest and to also help in achieving objectives of financial inclusion as set by Government of India.

 

AWARDS AND HONOURS

 

1. Bharat Forge honoured with IGBC Green Champion award: Bhrat Forge Ltd., India’s leading manufacturing powerhouse and a global provider of high-performance, innovative components, has been honoured with the prestigious IGBC Green Champion Award at the Green Building Congress 2024, held at the Bangalore International Exhibition Centre in Bengaluru.This recognition celebrates Bharat Forge’s ground breaking efforts in transforming villages into IGBC-certified Green Villages.As part of its CSR initiatives, Bharat Forge has driven remarkable advancements across 108 villages, focusing on areas such as drinking water availability, reservoirs, irrigation infrastructure, healthcare, modern educational facilities, organic farming, livestock management, biodiversity conservation, rainwater harvesting, and energy-efficient solutions.

 

2. Nurse Maria Victoria Juan From Philippines Wins the Prestigious Aster Guardians Global Nursing Award 2024: Nurse Maria Victoria Juan from Philippines, a Consultant at Philippines Army Health Services and Colonel, Reserve Force of the Armed Forces of the Philippines, has been honoured with of the Aster Guardians Global Nursing Award 2024.She was awarded USD 250,000 at a prestigious award ceremony held in Bengaluru, India.Launched in 2021, the Aster Guardians Global Nursing Award recognizes the critical role of nurses in healthcare. This year, over 78,000 applications were received from 202 countries, marking a 50% increase from 2023.

 

 

Daily GK Update- 4th Dec, 2024

 NATIONAL UPDATES:

 

1. Arunachal Pradesh launches ‘Mission Himveer’ to boost local economy: To boost market linkage for agricultural and horticultural products in Arunachal Pradesh, the state government has launched Mission Arun Himveer by signing a pact between the agriculture marketing board and the Indo-Tibetan Border Police, North East Frontier.As part of the initiative, the state government will supply fruits, vegetables, meat, and poultry to the ITBP. These produces will be procured from local farmers, self-help groups (SHGs), farmer producer organisations and farmer cooperatives.The mission aims to provide readymade markets for farmers in remote villages and regions with low marketable surplus. It also seeks to stimulate a vibrant local economy while addressing employment challenges across the state.

 

2. Government scraps windfall tax on crude, petrol, diesel export: The Indian government has abolished the windfall tax on aviation turbine fuel (ATF), crude oil, petrol, and diesel, effective immediately.This move marks the end of a levy introduced in July 2022 and aims to provide relief to oil producers and refiners.The decision is expected to benefit major oil players like Reliance Industries and ONGC by boosting their gross refining margins—a measure of profitability in refining crude oil.Additionally, the government has removed the Road and Infrastructure Cess (RIC) on petrol and diesel exports, further alleviating financial pressure on the oil sector.

 

3. India Gets First Water Transport Service ‘Uber Shikara’ In Srinagar: In a pioneering move, Uber has launched its first water transport service in India, the Uber Shikara, on the serene Dal Lake in Srinagar.This new offering allows users to book shikara rides through the Uber app, bringing a modern twist to a traditional form of transport in Kashmir.The Uber Shikara service is the first of its kind in Asia and follows in the footsteps of similar services in European cities like Venice. Initially, Uber has onboarded seven shikaras and plans to gradually expand the fleet based on user demand.

 

4. Kirti Vardhan Singh launches ‘Nano Bubble Technology’ for cleaning and purifying water: Union Minister of State for Forest, Environment and Climate Change, Kirti Vardhan Singh has launched ‘Nano Bubble Technology’ for cleaning and purifying water of the National Zoological Park in Delhi, and to promote the health of aquatic animals.This technology can effectively clean dirty pond water by eliminating algae and similar growths. It is being tested in the zoo for the first time as a 15-day trial. If successful, it will be used in the zoo.The primary goal of this technology is to keep water clean, ensuring the health and well-being of aquatic creatures. “Clean water helps prevent foul smells, algae buildup, and discolouration often caused by dirty pond water.

 

5. Ratapani Tiger Reserve, MP notified as the 57th Tiger Reserve of the country.: Union Minister for Environment, Forest and Climate Change, Bhupender Yadav, informed the Nation about the notification of the Ratapani Tiger Reserve, Madhya Pradesh, as the 57th Tiger Reserve of the country.Ratapani Tiger Reserve has a core area of ​​763.8 sq km, a buffer area of ​​507.6 sq km and a total area of ​​1271.4 sq km. It is the 8th tiger reserve of Madhya Pradesh.This conservation initiative will strengthen wildlife management in the forests of Ratapani, Bhopal Sehore area. Standard protection, habitat management, ecotourism, community engagement activities etc shall be adopted which will strengthen Wildlife conservation in the Ratapani Tiger landscape.

 

INTERNATIONAL UPDATES:

 

1. 16th COP of the UNCCD Commences in Riyadh, Saudi Arabia: The 16th session of the Conference of the Parties (COP) of the United Nations Convention to Combat Desertification (UNCCD) commenced in Riyadh.COP16 will take place in Riyadh, Saudi Arabia from 2-13 December 2024 under the theme Our Land. Our Future.The COP to the UNFCCD is held every two years, and the 15th COP was held in May 2022 in Abidjan, Cote d’Ivoire.The 16th Conference of Parties of the UNCCD is being organised by the United Nations Convention to Combat Desertification and is hosted by the Saudi Arabian Government.The Indian delegation at the 16th CoP of the UNCCD is being jointly led by the Union Minister for Environment, Forest and Climate Change, Bhupendra Yadav and the chief minister of Haryana, Nayab Singh Saini.

 

2. Donald Trump nominates Indian American Kash Patel as FBI Director: President Donald Trump has nominated Kash Patel as the next Director of the Federal Bureau of Investigation (FBI), marking him as the highest-ranking Indian American in Trump’s incoming administration.Kash is a brilliant lawyer, investigator, and ‘America First’ fighter who has spent his career exposing corruption, defending Justice, and protecting the American People.New York-born Mr Patel has his roots in Gujarat. However, his parents are from East Africa — mother from Tanzania and father from Uganda. They came to the U.S. from Canada in 1970.

 

3. 2 December – International Day for the Abolition of Slavery: International Day for the Abolition of Slavery is an important global event observed annually on December 2.Objective – To raise awareness about human trafficking, and promoting the rights and dignity of all individuals, especially those who have been victims of slavery.The International Day for the Abolition of Slavery marks the date of the adoption, by the General Assembly, of the United Nations Convention for the Suppression of the Traffic in Persons and of the Exploitation of the Prostitution of Others (resolution 317(IV) of 2 December 1949).

 

OTHER UPDATES:

DEFENCE

 

1. Indian Army begins Harimau Shakti Exercise with Malaysian Army: India and Malaysia commenced the bilateral Joint Military Exercise “Harimau Shakti” on 2 December 2024 at Bentong camp, Pahang district, Malaysia.The 2024 edition of the annual bilateral exercise will be held from 2 to 15 December 2024. In 2023, the Indian Army hosted the exercise at its Umroi Cantonment in Meghalaya. The first annual bilateral military exercise, Harimau Shakti, between the Indian Army contingent and the Malaysian Army contingent was held in October 2012 in Kuala Lumpur, Malaysia. In the 2024 edition of the Harimau Shakti Exercise, 78 personnel of the Indian Army’s Mahar Regiment will represent the Indian contingent, and 123 personnel of the Royal Malaysian Regiment will represent the Malaysian side. Aim of the Joint Exercise is to enhance joint military capability of both sides to undertake counter insurgency operations in jungle terrain under Chapter VII of the United Nations Mandate. The exercise will focus on operations in the jungle environment.

 

SPORTS 

 

1. Sindhu & Lakshya win 2024 Syed Modi International Badminton tournament: The Indian badminton ace PV Sindhu and Lakshya Sen, respectively, won the women’s and men’s titles of the 2024 Syed Modi International badminton tournament.The USD 2.10 Lakh prize money BWF (Badminton World Federation) World Tour 300 Syed Modi International badminton tournament was held at the Babu Banarsi Das Indoor Stadium in Lucknow, Uttar Pradesh.It was PV Sindhu’s first BWF title since the 2022 Singapore Open title. Since 2022, after her win at the 2022 Singapore Open, PV Sindhu has failed to win a BWF Tournament singles title. In between, Sindhu made the finals at the 2023 Spain Masters Super 300 and 2024 Malaysia Masters Super 500 but lost in the finals. She defeated Chinese player Wu Luo Yu 21-14, 21-16 in the final to winSyed Modi International Badminton singles title.

 

BANKING AND FINANCE

 

1. Razorpay Partners with MHA to Fortify India’s Digital Payments Ecosystem: Razorpay, India’s leading omnichannel payments and banking platform, has collaboration with the Ministry of Home Affairs (MHA) and the Indian Cyber Crime Coordination Centre (I4C) to enhance the security of the country’s burgeoning digital payments ecosystem. This partnership comes as India contributes 46% of the global digital payment volume, underscoring the urgent need for robust cybersecurity measures to safeguard businesses and consumers. As part of the collaboration, Razorpay will drive nationwide awareness campaigns to educate businesses and consumers on cybersecurity best practices. Initiatives include:

 

2. Direct Engagement with Law Enforcement: Establishing connections with over 1,600 cybercrime stations across 25 states and union territories to bolster communication and collaborative efforts. SBI Launches Nationwide Drive to Reactivate Inoperative Accounts: State Bank of India (SBI) has launched a nation-wide drive to raise awareness about the importance of inoperative account activation. A savings or a current account is treated as inoperative if the customer has no transaction in the account for a period of over two years. Activation of these accounts requires Re-KYC. Necessity of regular transactions in the account and preventing categorization into in-operative was the key message. SBI chairman C S Setty emphasised the need to drive Re-KYC exercise in letter and spirit, to maintain PMJDY accounts in active status and enabling customers to conduct transactions seamlessly.

 

3. GST collection rises 8.5 pc to Rs 1.82 lakh cr in November 2024: The total gross Goods and Services Tax (GST) revenue grew 8.5 per cent to over Rs 1.82 lakh crore in November 2024 as compared to Rs 1.68 lakh crore in the same month a year ago. The Central GST collection stood at Rs 34,141 crore, State GST at Rs 43,047 crore, Integrated IGST at Rs 91,828 crore and cess at Rs 13,253 crore. During the month under review, GST from domestic transactions grew 9.4 per cent to Rs 1.40 lakh crore, while revenues from tax on imports rose about 6 per cent to Rs 42,591 crore.

 

4. RBI lifts supervisory restrictions on Sachin Bansal-led Navi Finserv: The Reserve Bank of India (RBI) has lifted the restrictions imposed on Sachin Bansal-led Navi Finserv with immediate effect.

The central bank on October 17, 2024 had issued directions to Navi Finserv Limited, Bengaluru (and three other NBFCs), to cease and desist from sanction and disbursal of loans, effective from close of business of October 21, 2024. Besides Navi, the central bank had put similar restrictions on three other NBFCs — New Delhi-based DMI Finance Private Limited, Kolkata-based Arohan Financial Services Limited, and Chennai-based Asirvad Micro Finance Limited.