Daily GK Update- 13th Dec, 2024

 NATIONAL UPDATES:

 

1. HPCL inks pact with Sea6 Energy to convert seaweed biomass into fuels: Government-owned oil major HPCL and Sea6 Energy Private Limited have entered into a MoU for R&D collaboration to take up joint development and commercialisation of technologies for valorising seaweed biomass.Under this MoU, HPCL will develop and scale up technologies jointly with Sea6 Energy for the conversion of seaweed biomass into fuels and chemicals. While these technologies are being developed and piloted, Sea6 Energy will also work on the upstream portion of making seaweed farming and harvesting more cost-effective.Seaweeds provide an attractive alternative to traditional biomass as far as biofuel production is concerned because it doesn’t compete with food security, does not require fertilisers or irrigation, and can be practised in areas unsuitable for traditional agriculture such as coastlines.

 

2. IEPFA and ACCA Sign MoU to Boost Financial Literacy and Investor Protection Across India: The Investor Education and Protection Fund Authority (IEPFA), and the Association of Chartered Certified Accountants (ACCA) have signed an MoU to enhance financial literacy, investor education, and protection in India, focusing on both urban and rural sectors.The collaboration will implement the “Financial Education for You” (FEFY) program, a four-year initiative targeting students in grades 6 to 9 to build a strong foundation for sound financial decision-making.ACCA will provide digital content for free and train school educators to effectively deliver the curriculum, ensuring widespread access to financial literacy tools.The pilot phase will begin in select schools, using interactive and experiential learning techniques to promote responsible financial behavior among students.

 

3. Rahul Narwekar of BJP re-elected Speaker of 15th Maharashtra Assembly: Rahul Narwekar of the ruling Bharatiya Janata Party was re-elected as the 15th Maharashtra Legislative Assembly Speaker.Rahul Narwekar, who was the Speaker for two and a half years in the previous 14th Legislative Assembly, was elected unopposed.On 6 December, the Governor of Maharashtra, C P Radhakrishnan, administered the oath of Protem Speaker to Kalidas Sulochana Nilkanth Kolambakar.The Protem Speaker administered the oath of office to the newly elected 288 members of the assembly and presided over the election of the Speaker of the House.

 

4. Rabindra Mahto re-elected Speaker of 6th Jharkhand Legislative Assembly: Rabindra Nath Mahato of the ruling party, Jharkhand Mukti Morcha (JMM), was unanimously re-elected Speaker of the 6th Jharkhand Legislative Assembly.Rabindra Nath Mahato was the Speaker of the previous 5th Jharkhand Legislative Assembly also.Rabindra Nath Mahato is the first person to be elected Speaker of the Assembly for two consecutive terms.Inder Singh Namdhari is the only other person who has been the Speaker of the Jharkhand assembly twice but not for two consecutive terms.

 

INTERNATIONAL UPDATES:

 

1. India participates in the 2nd meeting of the Supply Chain Council (SCC) as Vice-Chair, under India-Pacific Economic Framework: India participated in the 2nd meeting of the Supply Chain Council as vice-chair. India was represented by Shri Rajesh Agrawal, Additional Secretary, Department of Commerce.The Chair (United States) of SCC highlighted the significant progress made since the last meeting in September 2024 and shared an update on the APT relating to Chemicals, in efforts are being made, to promote greater chemicals trade and diversify sources through various work streams, and enhance international business matchmaking.The Supply Chain Council was formed under the Agreement relating to Supply Chain Resilience under IPEF to pursue targeted, action-oriented work to strengthen the supply chains for those sectors and goods most critical to national security, public health, and economic well-being in the India-Pacific region which represents about 40 % of Global GDP and 28% of Global trade in goods and service.

 

2. Mohammad al-Bashir appointed Interim Prime Minister of Syria: The Hayat Tahrir al-Sham, or HTS rebels in Syria, appointed Mohammad al-Bashir as the transitional Prime Minister of Syria after Bashar al-Assad’s government fell.Mohammad al-Bashir will remain the head of the transitional government in Syria until 1st March 2025.Mohammad al-Bashir is part of the rebel jihadist organisation HTS that swept into the capital, Damascus, on 8 December 2024, bringing to an end five decades of rule by Assad’s family.Syrian President Bashar al-Assad fled from the country and is believed to be in Moscow, Russia, which was the biggest supporter of the Assad government and maintains a military base in the country.

 

3. 12 December – International Universal Health Coverage Day: International Universal Health Coverage (UHC) Day is celebrated annually on December 12 to raise awareness about the need for strong, resilient health systems and universal health coverage.Theme 2024 – Health: It’s on the Government!It was first launched on December 12, 2012, when the United Nations General Assembly (UNGA) unanimously supported the resolution to make UHC a priority of countries as integral and necessary for the fulfilment of human rights and international development In 2014, it was proclaimed as UHC Day by the Universal Health Coverage Coalition. Thus, UNGA declared December 12 International Universal Health Coverage Day in 2017.

 

OTHER UPDATES:

DEFENCE

 

1. Nepal Army chief conferred honorary rank by President Murmu: President Droupadi Murmu conferred the honorary rank of ‘General of Indian Army’ on Nepal’s Army chief General Ashok Raj Sigdel at a ceremony in New Delhi.He was honoured for his commendable military prowess and immeasurable contribution to further fostering Nepal’s long and friendly association with India.Since 1950, the army chiefs of Nepal and India have had a unique tradition of being conferred the title of Honorary General.General Sigdel, an alumnus of the Nepali Military Academy, was commissioned into the Nepali Army in February 1987. He assumed command of the Nepali Army as Chief of Army Staff on September 9, 2024.

 

2. BEML secures ₹136 crore contract from Ministry of Defence for High Mobility Vehicles: Defence PSU BEML Limited has secured ₹136-crore contract to supply indigenously designed High Mobility Vehicles (HMVs) 8×8.These vehicles will be deployed for the Battlefield Surveillance System (BFSS) project.The HMVs will primarily be manufactured at the Palakkad plant, with additional production in other divisions as determined by management based on operational feasibility.

 

3. Defence Ministry signs ₹13,500-crore deal with HAL for 12 Su-30MKI aircraft: In a significant step toward bolstering India’s defence capabilities and promoting the ‘Aatmanirbhar Bharat’ initiative, the Ministry of Defence (MoD) has signed a contract with Hindustan Aeronautics Ltd (HAL) for the procurement of 12 Su-30MKI aircraft.The deal, valued at approximately ₹13,500 crore, includes associated equipment and is inclusive of taxes and duties. The aircraft will feature a homegrown content of 62.6%, achieved through the indigenisation of numerous components manufactured by the Indian defence industry.The Russian-origin Su-30MKI jets are being procured for the Indian Air Force. These jets are now manufactured by the HAL under an intergovernmental framework.The Su-30MKIs will be produced at HAL’s Nashik division, “The supply of these aircraft would enhance the operational capability of the Indian Air Force and strengthen the defence preparedness of the country.

 

SPORTS 

 

1. Ladakh to host Khelo India Winter Games from Jan 23: The dates for the Khelo India Winter Games (KIWG) have been announced, with Ladakh set to host the ice events from January 23 to 27, 2025, while Jammu and Kashmir will host the snow events from February 22 to 25, 2025.The Khelo India Winter Games began in 2020. Nearly 1,000 athletes, including 306 women, participated in the inaugural edition.Participation has grown significantly over the years, with more than 1,350 athletes in 2021 and over 1,500 in 2022, reflecting the increasing appeal of the Games in Jammu and Kashmir.The 2024 edition of KIWG witnessed over 1,200 participants, including more than 700 athletes, 141 support staff, 113 technical officials, and over 250 volunteers. A total of 136 medals were contested.

 

2. Haris and Wyatt-Hodge crowned ICC Players of the Month for November 2024: The International Cricket Council (ICC) has announced the ICC Players of the Month for November 2024 as Pakistan’s Haris Rauf and England’s Danni Wyatt-Hodge.Pakistan pacer Haris wins after his destructive bowling spells in Australia secured Pakistan’s first ODI series victory in the country since 2002, while England’s evergreen Wyatt-Hodge produced trademark fireworks in her side’s convincing short-format victory over South Africa.Both players win their maiden Player of the Month awards.

 

BANKING AND FINANCE

 

1. ADB cuts India FY24 GDP growth forecast to 6.5%, 7% in FY25 on weak demand: The Asian Development Bank (ADB) has lowered India’s economic growth forecast to 6.5 per cent for the current financial year from its earlier estimate of 7 per cent due to lower-than-expected growth in private investment and housing demand.The multilateral development bank has also lowered India’s growth forecast for 2025-26 financial year.Asia and the Pacific’s economies are projected to grow 4.9 per cent in 2024, slightly below ADB’s September forecast of 5 per cent.

 

2. India’s FDI Journey hits $1 Trillion: India has crossed a milestone of $1 trillion in cumulative foreign direct investment (FDI) inflows since April 2000, led by improved global competitiveness, a dynamic innovation ecosystem, and a business-friendly environment, according to the commerce and industry ministry.Taiwanese companies are increasingly shifting their supply chains to India due to global trade tensions, with FDI from Taiwan surpassing $665 million between 2018 and 2024.This achievement was bolstered by a nearly 26% rise in FDI to $42.1 billion during the first half of the current fiscal year, reflecting India’s growing appeal as a global investment destination.Over the last decade (April 2014 to September 2024), total FDI inflows amounted to $709.84 billion, accounting for 68.69% of the overall FDI inflow in the past 24 years.

In June 2024, India saw an increase in outward FDI commitments to $2.14 billion compared to $1.14 billion in June 2023, despite a decrease from $2.22 billion in May 2024.

 

AWARDS AND HONOURS

 

1. National Panchayat Awards 2024: The National Panchayat Awards 2024 honoured 45 exceptional Panchayats for their contributions to sustainable and inclusive development in rural India. The event was presided over by the Hon’ble President of India, Smt. Droupadi Murmu, with Hon’ble Union Minister of Panchayati Raj, Shri Rajiv Ranjan Singh alias Lalan Singh.During the prestigious ceremony, 45 Panchayats from diverse regions were honoured in recognition of their exemplary work in rural development. A booklet titled ‘Best Practices on Works of Awardee Panchayats’ was unveiled, documenting the innovative and impactful practices implemented by the award-winning Panchayats. The National Panchayat Awards are usually celebrated on April 24th every year, in conjunction with National Panchayati Raj Day (due to the General Elections to the Lok Sabha held earlier in 2024, the award ceremony was rescheduled to 11th December this year.).

 

Daily GK Update- 12th Dec, 2024

 NATIONAL UPDATES:

 

1. MoEFCC Facilitates Landmark Agreements to Advance Circular Economy and Waste Management: The Ministry of Environment, Forest and Climate Change facilitated the signing of a significant MoU between the Government of Telangana and CSIR, along with agreements with leading recyclers to promote India’s transition to a circular economy.The MoU aims to develop a skilled workforce in recycling and waste management, with CSIR providing technical support through training programs in Telangana.The agreements between eight CSIR laboratories and recyclers focus on innovative waste management and recycling technologies to establish advanced recycling infrastructure and support domestic waste recycling.These initiatives align with the Prime Minister’s call for Mission Circular Economy, aiming to minimize waste, recover valuable materials, and reduce dependence on virgin resources through policies like the Extended Producer Responsibility (EPR).

 

2. PM Narendra Modi inaugurates Rising Rajasthan Global Investment Summit: Prime Minister Narendra Modi inaugurated the Rising Rajasthan Global Investment Summit 2024 and the Rajasthan Global Business Expo at the Jaipur Exhibition and Convention Centre (JECC) in Jaipur, Rajasthan.It is part of the Rajasthan Government’s goal of doubling the state’s economy to USD 350 billion in the next five years.Theme 2024 – Replete, Responsible, ReadyThe Summit will host 12 sectoral thematic sessions on the themes of water security, sustainable mining, sustainable finance, inclusive tourism, agri-business innovations and women-led Startups among others.Eight Country sessions will also be held during the Summit with participating countries on themes like Water Management for Livable Cities’, ‘versatility of Industries- manufacturing and Beyond’ and ‘Trade & Tourism.’

 

3. Cabinet approves Singing of MoU between GSI and CNR-IRPI, Italy for Collaboration in Landslide Prediction and Forecasting: The Geological Survey of India (GSI) will collaborate with Italy’s Research Institute for Geo-Hydrological Protection (CNR-IRPI) to enhance landslide forecasting and early warning systems.This partnership, approved by the Union Cabinet, aims to improve India’s Landslide Early Warning Systems (LEWS) to international standards.GSI’s state-of-the-art NLFC, based in Kolkata, currently provides daily live forecast reporting in Kalimpong and Darjeeling (West Bengal) and Nilgiri (Tamil Nadu), while ground testing is underway in 13 additional districts. The center’s vision is to ensure timely landslide forecasting to reduce risks and improve preparedness.The collaboration will integrate GSI’s landslide inventory, susceptibility, and forecast maps with PM Gati Shakti, enhancing resilience in fragile hilly terrains and supporting sustainable development and environmental protection.

 

4. Fifteenth Finance Commission Grants Released for the Rural Local Bodies of Himachal Pradesh and Goa: The Union Government has released the Fifteenth Finance Commission (XV FC) Grants during Financial Year 2024–25, for Rural Local Bodies in Himachal Pradesh, 2nd installment of Untied Grants amounting to Rs.70.40 crores along with the withheld amount of 1st installment of Untied Grants for Financial Year 2024–25 amounting to Rs.11.4716 crores.These funds are for all eligible 12 District Panchayats, all eligible 81 Block Panchayats and all eligible 3615 Gram Panchayats.XV FC Grants during Financial Year 2024–25, for Rural Local Bodies in Goa, 2nd installment of Untied Grants of the Financial Year 2022–23 amounting to Rs.9.69 crores have also been released. These funds are for all eligible 191 Gram Panchayats of the State.

 

INTERNATIONAL UPDATES:

 

1. Kyndryl Partners with The Co-operative Bank for Strategic Cloud Migration: Kyndryl, the world’s largest IT infrastructure services provider, has partnered with The Co-operative Bank to migrate the bank’s existing applications from on-premise environments to AWS Cloud.This initiative aims to provide a flexible IT infrastructure, enhancing operational efficiency and service delivery while reducing ongoing costs.The partnership builds on a long-standing relationship between Kyndryl and The Co-operative Bank. The transition to AWS Cloud marks a significant milestone in the bank’s digital transformation journey, positioning it to meet evolving market demands and drive innovation.

 

2. 11 December – International Mountain Day: International Mountain Day is celebrated annually on 11 December.Objective – To raise awareness about the importance of mountains to life, highlight the opportunities and constraints in mountain development, and build alliances that will bring positive change to mountain peoples and environments.Theme 2024 – Mountain solutions for a sustainable future – innovation, adaptation and youthThis day, which was instituted by the UN in 2003, emphasizes the need for protecting mountain ecosystems and sustaining the means of subsistence for mountain populations

 

OTHER UPDATES:

 

SPORTS 

 

1. F1 Abu Dhabi Grand Prix 2024: Lando Norris win ends McLaren’s long wait for Constructors’ Championship: McLaren won the World Constructors’ Championship after 26 years, at the Abu Dhabi Grand Prix, the finale of the Formula One 2024 season.Carlos Sainz and Charles Leclerc were second and third for Ferrari, respectively.McLaren finished with 666 points to Ferrari’s 652 and Red Bull’s 589.Seven-time world champion Lewis Hamilton finished fourth in his last race for Mercedes, overtaking teammate George Russell on the 58th and final lap. He joins Leclerc at Ferrari next season.

 

2. 2027 Women’s World Cup in Brazil will run from June 24 to July 25: The 2027 Women’s World Cup in Brazil will be played from June 24 to July 25, FIFA, soccer’s international governing body announced.Thirty-two teams will participate in the Women’s World Cup, which is being played in South America for the first time.Brazil has one of CONMEBOL’s three spots as host. UEFA has the largest number of slots with 11, followed by AFC with six, CAF and CONCACAF with four apiece and OFC with one. The other spots will be determined via playoff.Spain is the defending champion, having won the 2023 Women’s World Cup jointly hosted by Australia and New Zealand.

 

3. FIFA Confirms Saudi Arabia As 2034 World Cup Host: FIFA has confirmed that Saudi Arabia will host the 2034 World Cup, underlining the Gulf kingdom’s growing influence in world sport despite criticism of the country’s human rights record.At the same time, a virtual Congress of world football’s governing body confirmed that Morocco, Spain and Portugal will be joint hosts of the 2030 World Cup, in which three games will also be played in South America.The Saudi bid was waved through by acclamation during the meeting of FIFA’s 211 national member associations, with no rivals standing in its way.

 

BANKING AND FINANCE

 

1. ICICI Bank Partners with Commonwealth Bank of Australia to Boost India-Australia Business Corridor: ICICI Bank has signed an MoU with the Commonwealth Bank of Australia (CBA) to enhance support for customers engaged in the Australia-India business corridor.The MoU was signed by Rakesh Jha, Executive Director of ICICI Bank, and Mike Vacy-Lyle, Group Executive of Business Banking at CBA.The collaboration aims to foster deeper economic ties between the two nations by exploring several initiatives, including:Introducing corporate and institutional customers to opportunities for investment or business expansion in India and Australia.

 

2. Universal Sompo GI Collaborates with CRY to Empower Education for Marginalized Communities in Andhra Pradesh: Universal Sompo General Insurance has collaborated with Child Rights and You (CRY) to foster educational opportunities for children in marginalized communities in Andhra Pradesh.The initiative aims to address barriers to education and equip students with the tools needed to pursue professional courses and brighter futures. This program will directly benefit 114 students and 82 families, empowering communities by facilitating access to professional courses and better career opportunities. The collaboration will initiate an educational project aimed at establishing Remedial Tuition Centres specifically for 10th and 12th-grade students.The project aims to prepare students for their board examinations over a three-month period (Jan to March 2025), ensuring that all enrolled 10th and 12th graders successfully appear for these critical assessments.

 

3. S&P Global retains 6.8% growth for FY25: The Indian economy is expected to grow by 6.8% in 2024-25 and 6.9% in 2025-26, according to India Outlook by S&P Global Ratings.The economy is poised for robust growth in 2025, supported by strong urban consumption, steady growth in the service sector, and ongoing investment in infrastructure.In the second quarter of the current financial year, the gross domestic product (GDP) grew by 5.4%, marking a seven-quarter low, due to weak manufacturing and sluggish demand, according to the official data released last month. Manufacturing growth was recorded at 2.2%, down from 7% in the first quarter.In the monetary policy meeting last week, the RBI revised its growth estimate for 2024-25 to 6.6% from 7.2% earlier. It also kept the policy rate unchanged at 6.5% for the eleventh consecutive time.

 

AWARDS AND HONOURS

 

1. Shaji N Karun Chosen for J C Daniel Award
: Eminent filmmaker Shaji N Karun has been selected for the J C Daniel Award for 2023, recognising his lifetime contribution to Malayalam cinema.The award, the highest honour in Malayalam cinema instituted by the state government, includes a cash prize of Rs 5 lakh, a citation, and a statuette.Shaji N Karun was chosen for the award for his contributions that made a mark for Malayalam at the national and international level.

 

Daily GK Update- 11th Dec, 2024

 NATIONAL UPDATES:

 

1. Varthana Secures $15 Million Funding to Revolutionise Affordable Education in India: Varthana has successfully secured $15 million (₹120 crores) from the BlueOrchard Microfinance Fund, managed by global impact investor BlueOrchard, through the External Commercial Borrowings (ECB) framework.The funds will support Varthana’s mission to enhance affordable private education in India, particularly for underserved communities.The funding will be used to expand Varthana’s lending portfolio, focusing on affordable private schools and vocational students in Tier 2 and Tier 3 cities, with a focus on infrastructure upgrades and skill-based learning initiatives.Varthana has already made a significant impact by financing over 11,000 affordable private schools and facilitating more than 16,500 loans for school expansion and renovation.

 

2. Flipkart, DPIIT sign MoU to accelerate growth of startup ecosystem: Flipkart, India’s homegrown e-commerce platform, has signed an MoU with the Department for Promotion of Industry and Internal Trade (DPIIT) to support and empower tech start-ups in India.Aimed at encouraging the growth of innovators and entrepreneurs, the partnership would build on existing efforts under the Flipkart Leap and Ventures initiative with its $100 million fund.Under the Flipkart Ventures initiative, startups would be offered resources, guidance, and support for different milestones, such as prototype development, infrastructural support, network access and insights for international expansions.

 

3. Krishnaveni Sangeetha Neerajanam 2024 concluded in Vijayawada: The three-day Krishnaveni Sangeetha Neerajanam 2024 successfully concluded at the Tummalapallivari Kshetrayya Kalakshetram Auditorium in Vijayawada, Andhra Pradesh.The festival was organised to pay rich tribute to Telugu culture and Carnatic music and provide a platform for lesser-known artists to perform.The three-day Krishnaveni Sangeetha Neerajanam was organised by the Union Ministry of Tourism in partnership with the Union Ministry of Culture, the Union Ministry of Textile, and the government of Andhra Pradesh.The cultural and musical festival was held at three places in Andhra Pradesh. It was held at Durga Ghat on the banks of the Krishna River, Shree Durga Malleswari Swami Vaarla Temple, and Tummalapallivari Kshetrayya Kalakshetram Auditorium in Vijayawada.About the Krishnaveni Sangeetha Neerajanam

 

4. Sanjay Malhotra appointed as new RBI Governor: Sanjay Malhotra, the Revenue Secretary of the Finance Ministry, has been appointed the 26th Governor of the Reserve Bank of India (RBI). He will assume office on 11 December 2024 after the incumbent Governor, Shaktikanta Das, retires on 10 December 2024.Sanjay Malhotra has been appointed for three years, starting 11 December 2024. The central government can dismiss him before the completion of his tenure, or he can resign from his office.Under section 8 of the Reserve Bank of India Act 1934, the Central government appoints the Governor and four Deputy Governors of the RBI.According to the RBI Act 1934, the Governor or the Deputy Governor can be appointed for a maximum term of five years and is eligible for reappointment. It means that one term of the Governor or the Deputy Governor can be up to 5 years.

 

INTERNATIONAL UPDATES:

 

1. John Dramani Mahama wins Ghana presidential election: National Democratic Congress (NDC) presidential candidate and former Ghanaian President John Dramani Mahama who is returning as Ghana’s president eight years after losing power, achieved his political comeback on a promise to mend the West African country’s economy.The eldest son of a wealthy rice trader turned politician, Mahama became Ghana’s interim leader in 2012 after the sudden death of President John Atta Mills, under whom Mahama served as vice president.He was first elected to parliament in 1996 and served as communications minister from 1998 to 2001. Atta Mills appointed him vice president in 2009.

 

2. 9 December – International Day of Commemoration and Dignity of the Victims of the Crime of Genocide: International Day of Commemoration and Dignity of the Victims of the Crime of Genocide is observed annually on 9 December.This day honours the memory of the victims of genocide and raises awareness about the crime, emphasizing the importance of preventing future atrocities.On this day in 1948, the Convention on the Prevention and Punishment of the Crime of Genocide was adopted by the United Nations General Assembly. This historic treaty defined genocide as an international crime and set the groundwork for the international community’s commitment to prevent and punish acts of genocide.

 

3. 10 December – World Human Rights Day: World Human Rights Day is observed annually on December 10.Human rights play a vital role as a preventative, protective and transformative force for good. This day also empowers people and communities across the world to build a better future.Theme 2024 – Our Rights, Our FutureWorld Human Rights Day was established in 1948 when the United Nations General Assembly adopted the Universal Declaration of Human Rights (UDHR). It is the first global enunciation of human rights.

 

OTHER UPDATES:

DEFENCE

 

1. Stealth frigate INS Tushil commissioned into the Indian Navy in Russia: The Russian-built multi-role stealth-guided missile frigate INS Tushil was commissioned into the Indian Navy at the Yantar Shipyard in Kaliningrad, Russia.The flag-raising ceremony was held in the presence of Defence Minister Rajnath Singh, Chief of the Naval Staff Admiral Dinesh K Tripathi, Russian Deputy Minister of Defence Alexander Vasilyevich Fomin, Ambassador of India to Russia Vinay Kumar, and other senior officials from both countries.INS Tushil is the seventh ship of the Project 1135.6 frigate to be built for the Indian Navy by Russia.The first three (Talwar, Trishul, Tabar) frigates of the project were built by the “Baltiysky Zawod” shipyard in St. Petersburg, Russia and delivered to the Indian Navy. The next three (Teg, Tarkash, Trikand) were constructed by “Yantar Shipyard” in Kaliningrad.In 2016, India signed an agreement with Russia to buy four more frigates of the Admiral Grigorovich class (NATO calls them Krivak III).

 

SPORTS 

 

1. Bangladesh defends its ACC U19 Men’s Asia Cup Title at Dubai: Bangladesh defeated India by 59 runs in the 11th ACC U19 Men’s Asia Cup Final in Dubai, United Arab Emirates, to successfully defend its title.Bangladesh, which won the previous edition in 2023, clinched its second consecutive U19 Men’s Asia Cup title. The ACC U19 Men’s Asia Cup is for male cricketers below 19.Player of the Final match: Iqbal Hossain Emon (Bangladesh)Player of the Tournament: Iqbal Hossain Emon (Bangladesh)The 11th ACC U19 Men’s Asia Cup was organized by the Asian Cricket Council (ACC) and hosted by the Emirates Cricket Board of the United Arab Emirates (UAE) in Sharjah and Dubai.Eight teams from Asia participated in the Tournament and were divided into two groups.

 

2. Sathish Karunakaran win Guwahati Masters 2024 badminton Singles title: Indian badminton player Sathish KarunakaranIn the doubles, the defending champion Ashwini Ponnappa and Tanisha Crasto successfully defended their title by beating the Chinese pair in the final.The $100,000 lakh prize money BWF Super 100 Guwahati Masters 2024 was held in Guwahati, Assam. It was the second BWF Super 100 Guwahati Masters after the inaugural edition of 2023.The BWF Super 100 Guwahati Masters 2024 was organised jointly by the Badminton Association of India and the Assam Badminton Association.

 

BANKING AND FINANCE

 

1. Canara Bank launched Nationwide Credit Outreach Program to Empower MSMEs: Canara Bank has launched a two-day nationwide Credit Outreach program to support the growth of Micro, Small, and Medium Enterprises (MSMEs) across 238 MSME clusters in key industrial and business regions.The initiative provided entrepreneurs with tailored financial solutions, advisory services, and access to government-sponsored schemes to enhance their business growth.The program was led by Canara Bank’s top management, including MD and CEO Shri. K. Satyanarayana Raju, and Executive Directors Shri. Debashish Mukherjee, Shri. Ashok Chandra, Shri. Hardeep Singh Ahluwalia, and Shri. Bhavendra Kumar.In addition to showcasing tailored MSME products, the event featured interactive sessions where the management addressed challenges faced by entrepreneurs and explored innovative solutions. The outreach initiative garnered an overwhelming response, resulting in on-the-spot loan approvals and leads amounting to more than Rs. 6,200 crore.

 

2. Deutsche Bank AG, India, provides € 91 million sustainability-linked-loan to SMFG India Credit: Deutsche Bank AG, India, has provided a €91 million (about ₹814 crore) sustainability-linked loan to SMFG India Credit (SMICC). The loan was facilitated via the Bank’s Gift City Branch.SMICC is a wholly owned subsidiary of Sumitomo Mitsui Financial Group (SMFG). It has over 1,000 branches and had Assets Under Management (AUM) of ₹49,800 crore as of September 2024.The senior secured loan, which carries a tenor of three years, is compliant with Deutsche Bank’s Sustainable Finance framework criteria.The loan will not only help expand SMICC’s portfolio and enable channelling funds toward MSMEs but also empower women entrepreneurs in underserved segments across India.

 

AWARDS AND HONOURS

 

1. HSL shines at 3rd PSU Transformation Awards 2024: Hindustan Shipyard Limited (HSL) has been honoured with two prestigious awards at the ‘3rd PSU Transformation Awards 2024’ ceremony, held at Shangri-La, New Delhi.The awards spotlight HSL’s commitment to innovation and excellence in the shipbuilding industry. HSL received recognition in two key categories:Innovative Product Development Award for its pioneering fender arrangement in Tugs for Submarines. This accolade was accepted by Sarath Chandra, Senior Manager (Design).Technology Adoption Award for implementing an innovative method of installing Retractable Thrusters in Diving Support Vessels. Tirupat Naik, Senior Manager (Engineering), received the award on behalf of HSL

 

2. Abathsahayeswarar Temple & BJPCI Project bag UNESCO Heritage Award: The 1,300-year-old Abathsahayeshwarar Temple in Thukkatchi, Thanjavur district, has been awarded the UNESCO Award of Distinction 2023 for its heritage conservation.The temple, built by Kings Vikrama Chola and Kulothunga Chola, was originally designed with five prakarams (enclosures).The temple houses numerous shrines, including Soundaryanayaki Ambal, Ashtabhuja Durga Parameshwari, Aadhi Sarabeshwarar, Pillayar, Murugan, and more.The village was historically known as Vikrama Chozheeswaram and Kulothunga Chola Nallur, and it was Kulothunga who established the idol for Sarabeshwarar.UNESCO’s Award of Distinction was part of the UNESCO Asia-Pacific Awards for Cultural Heritage Conservation.

 

3. Payal Kapadia makes history with Golden Globes 2025 Nomination for Best Director and Best Non-English Motion Picture: Payal Kapadia’s film All We Imagine As Light made history as the first Indian film nominated for Best Director (Motion Picture) at the 82nd Golden Globes 2025.The film also received a nomination for Best Motion Picture in a Non-English Language, earning acclaim worldwide.Actors Morris Chestnut and Mindy Kaling announced the Golden Globe nominations, with Kapadia joining notable directors like Jacques Audiard and Sean Baker in the Best Director category.Kapadia gained international fame with her 2021 documentary A Night of Knowing Nothing, which won the Best Documentary Award at the Cannes Film Festival.

As a student at FTII, Kapadia led protests against administrative controversies and later excelled as a filmmaker, with her short film Afternoon Clouds featured at the 2017 Cannes Film Festival.

 

 

Daily GK Update- 10th Dec, 2024

 NATIONAL UPDATES:

 

1. PM Modi launched ‘Bima Sakhi Yojana’ for women: Prime Minister Narendra Modi has launched ‘Bima Sakhi Yojana’ in Panipat to promote financial literacy and insurance awareness among women.This initiative of Life Insurance Corporation of India (LIC) is designed to empower women aged 18-70 years, who are Class X pass. They will receive specialized training and a stipend for the first three years to promote financial literacy and insurance awareness.After training, they can serve as LIC agents and the graduate Bima Sakhis would have the opportunity to qualify for being considered for Development Officer roles in LIC.Additionally, PM Modi also laid the foundation stone of the Main campus of Maharana Pratap Horticultural University, Karnal. The main campus and six regional research stations, spread over 495 acres, will be established at a cost of over Rs 700 crore.

 

2. Union Minister Jitin Prasada inaugurated Fourth Edition of India Internet Governance Forum: The India Internet Governance Forum (IIGF) 2024 was held at the Bharat Mandapam Convention Center, Pragati Maidan, New Delhi.Supported by the Ministry of Electronics and Information Technology (MeitY) and the National Internet Exchange of India (NIXI), this initiative by India’s multi-stakeholder community aims to explore critical aspects of Internet governance, foster meaningful dialogue, and highlight India’s leadership in the global digital landscape.The event was inaugurated by the Union Minister of State for Electronics & Information Technology and Commerce and Industry, Jitin Prasada, in the presence of S. Krishnan, Secretary, MeitY.

 

3. Centre to launch ‘Prashasan Gaon Ki Ore’ campaign for improving service delivery: The Centre will launch “Prashasan Gaon Ki Ore”, a nation-wide campaign to redress public grievances and improve service delivery, during the good governance week from December 19 to 24.In this campaign, over 700 district collectors will be participating and officials will be visiting tehsils and panchayat samiti headquarters.Prashasan Gaon Ki Ore is a decentralised version of special campaign 4.0 conducted in central ministries and departments and public sector undertakings (PSUs) from October 2 to 31, 2024.This is the third time that the government of India will be conducting a national campaign at the tehsil level to address public grievances and improve service delivery, the personnel ministry statement said.The preparatory phase of the good governance week 2024 will start from December 11-18.

 

4. Dharmendra Pradhan launches PMeVIDYA DTH 24×7 Channel No. 31 for Indian Sign Language: Union Minister for Education Dharmendra Pradhan has launched the PMeVIDYA DTH 24×7 Channel No. 31 for Indian Sign Language (ISL) in New Delhi.This move aligns with the objectives of the National Education Policy (NEP) 2020 and is set to transform the educational experience for hearing-impaired students across the country.The establishment of a dedicated PM e-VIDYA DTH Channel for ISL reflects the government’s commitment to addressing the educational needs of children with hearing impairments.The PM e-VIDYA ISL channel aims to make ISL more widely recognised and accepted, not only as a communication tool but as a subject of study akin to other languages such as Hindi and English. 

 

5. Govt appoints Vaibhav Chaturvedi as RBI representative on IBBI board: The government has appointed Vaibhav Chaturvedi as the ex-officio member of the Insolvency and Bankruptcy Board of India (IBBI).Currently, Chaturvedi is the Chief General Manager of the Reserve Bank of India (RBI).As the Reserve Bank of India’s (RBI’s) representative, Chaturvedi will contribute to the IBBI’s efforts in ensuring a smooth and transparent resolution process under the Code, which aims to resolve stressed assets and enhance credit discipline in the financial sector.IBBI, established in 2016, under the Insolvency and Bankruptcy Code, 2016, is responsible for the implementation of the code. The board plays a critical role in promoting transparency and accountability in the insolvency resolution process.

 

6. 6 December – Mahaparinirvan Diwas: Mahaparinirvan Diwas is observed annually on December 6, marks the death anniversary of Dr. Bhimrao Ramji Ambedkar, the architect of modern India and a tireless advocate for social justice.Ambedkar, a principal architect of the Indian Constitution and a pioneer in the fight against caste-based discrimination, passed away in 1956. This year, the 69th Mahaparinirvan Diwas commemorated at Prerna Sthal in the Parliament House Complex.Ambedkar’s contributions to Indian society are celebrated for his unwavering commitment to social equality and justice. Born on April 14, 1891, in Mhow, Madhya Pradesh, he emerged as a distinguished scholar, lawyer, economist, and a leader for the oppressed.

 

INTERNATIONAL UPDATES:

 

1. Wipro and SIAM.AI tie up to develop AI-powered assistant ‘Sukjai’ for Thailand’s tourism authority: Wipro has collaborated with SIAM.AI, a member of the NVIDIA Cloud Partner program in Thailand.The companies will leverage NVIDIA computing and software to develop an AI-powered digital assistant for the Tourism Authority of Thailand. This collaboration will utilise infrastructure, data, and networks within the country.‘Sukjai’ will also provide 24/7 support and information on transportation guidelines and schedules, destinations and lodging availability, recommended activities based on interest, and crowd flow information at top attractions. It will offer customised recommendations based on individual preferences and include information on emergency services and safety and security alerts.

 

2. India and Norway forge deeper economic partnerships, tackling business collaboration challenges: The India-Norway Business Forum was held in Mumbai organized by the Confederation of Indian Industry (CII) in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India.The forum brought together policymakers, industry leaders, and stakeholders to discuss avenues for deepening India-Norway trade and investment ties across priority sectors.The forum featured a presentation of the Business Climate Survey by Innovation Norway, which outlined the growing confidence of Norwegian companies in India.Many companies expressed satisfaction with India’s improving business environment and reaffirmed their commitment to expanding operations in the country.The forum also provided a platform for constructive dialogue between Indian and Norwegian industries, offering opportunities to explore synergies and shared challenges across sectors such as, energy, maritime, and sustainability.

 

3. Burkina Faso Junta Chief appoints new PM after Dissolving Government: Captain Ibrahim Traore, the junta leader in Burkina Faso has appointed Rimtalba Jean Emmanuel Ouedraogo as the country’s new prime minister, a day after dissolving the government.Ouedraogo, a journalist and former communications minister, replaces Apollinaire Joachim Kyelem de Tambela, who had led three military-appointed governments since Traore’s rise to power in September 2022.Ouedraogo, a close ally of Traore, has served as editor-in-chief and director of state television and was the government’s spokesperson after Traore’s coup.

 

4. UNGA declares December 21 as World Meditation Day: India co-sponsored a UN General Assembly draft resolution that was unanimously adopted to proclaim December 21 as World Meditation Day.India, including Liechtenstein, Sri Lanka, Nepal, Mexico and Andorra, was a member of the core group of countries that guided the unanimous adoption of the resolution titled ‘World Meditation Day’ in the 193-member UN General Assembly.The resolution, introduced by Liechtenstein, was also cosponsored by Bangladesh, Bulgaria, Burundi, the Dominican Republic, Iceland, Luxembourg, Mauritius, Monaco, Mongolia, Morocco, Portugal and Slovenia.

 

5. 9 December – International Anti-Corruption Day: International Anti-Corruption Day is observed annually on 9 December to raise awareness about corruption and promote measures to combat it.Theme 2024 – Uniting with Youth Against Corruption: Shaping Tomorrow’s Integrity

Established by the United Nations, the day highlights the role of governments, organizations, and individuals in eradicating corruption to foster accountability, transparency, and sustainable development worldwide.

 

OTHER UPDATES:

DEFENCE

 

1. Western Air Command Commanders’ Conference 2024: Enhancing Readiness and Operational Excellence: The Western Air Command’s (WAC) two-day Commanders’ Conference, held in New Delhi, featured Air Chief Marshal AP Singh, Chief of the Air Staff (CAS), as the chief guest, who was received with a ceremonial Guard of Honour.The CAS emphasized the need for focused training to ensure readiness for multi-domain warfare, aligning with the theme “Bharatiya Vayu Sena – Sashakt, Saksham, Atmanirbhar” and urged collective efforts to advance the Indian Air Force (IAF).Discussions included enhancing operational capability through better training and planning, early operationalization of new equipment, ensuring safety and security, and empowering leadership to build a future-ready force.The CAS commended WAC for their prompt humanitarian assistance and disaster relief (HADR) responses domestically and internationally, maintaining high operational excellence, and upholding IAF’s core values of “Mission, Integrity, and Excellence.”

 

2. 7 December – Armed Forces Flag Day or Flag Day: Armed Forces Flag Day or Flag Day is celebrated every year on 7 December.The day is commemorated to honour the soldiers and the bravehearts, who lost their lives in the line of duty. Since December 7, 1949, this day has been observed to pay respect to the military forces. The Armed Forces Flag Day is also dedicated to raising funds from Indian citizens for the welfare of Indian Armed Forces troops.The Defence Minister’s committee created the Armed Forces Flag Day Fund in 1949. In 1993, the Indian Defense Ministry merged all related welfare funds, including those for war victims, the Kendriya Sainik Board Fund, the ex-servicemen’s welfare fund, and other units, into a unified Armed Forces Flag Day fund.

 

SPORTS 

 

1. Former Assam Cricketer Devajit Saikia appointed as BCCI’s acting Secretary after Jay Shah: Former Assam cricketer Devajit Saikia has been named as the acting secretary of the Board of Control for Cricket in India (BCCI).He will replace BCCI president Jay Shah who recently took over the reigns as ICC chairman.Board president Roger Binny used his constitutional powers for the appointment. Saikia worked as a joint secretary at BCCI earlier.

 

BANKING AND FINANCE

 

1. Insolvency and Bankruptcy Board of India in association with INSOL India organizes International Conclave 2024: The Insolvency and Bankruptcy Board of India (IBBI) in association with INSOL India organized an International Conclave focusing on “Insolvency Resolution: Evolution & Global Perspective”.The event brought together distinguished experts and practitioners from across jurisdictions to share insights and experiences in insolvency resolution.

The Conclave included three panel discussions. The first Panel Discussion was on the theme “Issues, Recent Developments & New Trends in Restructuring & Insolvency Across Jurisdictions”. The session was chaired by Mr. Sumant Batra, President of the Insolvency Law Academy.The second Panel Discussion was on the theme “Judgment Enforcement, Asset Recovery and Personal Guarantees”.

 

 

Daily GK Update- 9th Dec, 2024

 NATIONAL UPDATES:

 

1. 25 years of Hornbill Festival of Nagaland: Nagaland’s signature tourism and cultural festival, “Hornbill Festival”, is celebrating its 25th anniversary in 2024 that is annually held from December 1 to 10The Hornbill Festival, also famous as the “Festivals of Festivals”, derives its name from the elusive Hornbill bird.The Hornbill Festival was launched in 2000 by the Nagaland government as a celebration of Naga culture but over a period of time has grown in popularity and stature, attracting national and international visitors.During the festival,17 tribes of Nagaland showcase their culture and tradition through dances, processions, art exhibits and musical performances.The Opening ceremony of the 25th edition of Hornbill Festival was held in the Kisama Heritage Village on 1 December 2024 and it was inaugurated by the Chief Minister of Nagaland Neiphiu Rio.

 

2. Union Cabinet approves Rithala-Kundli corridor of Delhi Metro: The Union Cabinet has approved the 463-km Rithala-Kundli corridor of the Delhi Metro’s Phase-IV project that will further enhance connectivity between the national capital and neighbouring Haryana.The entire stretch will comprise 21 stations, all of them elevated. The corridor is scheduled to be completed in 4 years from the date of its sanction.This line will be an extension of the presently operational Shaheed Sthal (New Bus Adda) – Rithala (Red Line) corridor and will boost connectivity in the north western parts of the national capital in areas such as Narela, Bawana, parts of Rohini etc. This entire stretch will comprise of 21 stations.A total of 12 metro lines of about 392 km with 288 stations are being operated by DMRC in Delhi and NCR at present. Delhi Metro has the largest Metro network in India and is also one of the largest Metros in the world.

 

3. Centre approves ₹944 crore as Cyclone Fengal relief to Tamil Nadu, promises more after assessment reports: The Centre has approved the release of ₹944.80 crore to Tamil Nadu as two instalments of its share from the State Disaster Response Fund (SDRF) to help the state government’s relief efforts in areas ravaged by Cyclone Fengal.Concerning overall funds for disaster relief, the Centre claimed that more than ₹21,718.716 crore has already been released to 28 states so far, this financial year.This includes ₹14,878.40 crore from SDRF to 26 states, ₹4,808.32 crore from NDRF to 18 states, ₹1,385.45 crore from the State Disaster Mitigation Fund (SDMF) to 11 states and ₹646.546 crore from the National Disaster Mitigation Fund (NDMF) to seven states.

 

4. India’s first Hyperloop train test track completed by IIT Madras: IIT Madras has completed a 410-meter Hyperloop test track, marking a significant milestone in India’s journey toward futuristic transport systems.The project is being led by IIT Madras’s Avishkar Hyperloop team in partnership with TuTr, a startup incubated at the institute. The Avishkar Hyperloop team comprises 76 undergraduates and postgraduate students from IIT Madras.The Hyperloop concept, originally popularised by Elon Musk in 2012, is now gaining traction worldwide, and this development takes India closer to adopting cutting-edge transportation technology.The technology will be implemented in two phases: the first phase will feature an 11.5-kilometre test track to validate and certify the technology. Upon successful trials, the second phase will expand the track to nearly 100 kilometres.

 

INTERNATIONAL UPDATES:

 

1. India to chair UN Commission on Narcotic Drug: The Indian Embassy in Austria announced that India has been chosen to Chair the 68th Session of the UN Commission on Narcotic Drugs (CND).India’s Permanent Representative to the United Nations in Vienna, Ambassador Shambhu S Kumaran, officially assumed the Chairmanship of the UN Commission on Narcotic Drugs.This is the first time that India has been named to Chair this important UN body.The CND is the principal policy-making body of the United Nations on drug-related matters. It is mandated to monitor global drug trends, support Member States in formulating balanced policies, and oversee implementation of the major international drug conventions.

 

2. 7 December – International Civil Aviation Day: International Civil Aviation Day is celebrated every year on December 7.It is important to recognize the role of aviation in global connectivity, economic development, and fostering cultural exchange.Theme 2024 – Safe Skies. Sustainable Future: Together for the next 80 yearsThis day also draws attention to the challenges faced by the aviation industry and the progress made in ensuring the safety, sustainability, and accessibility of air travel.7 December 2024 marks the 80th anniversary of the signing of the Convention on International Civil Aviation in Chicago, United States. For eight decades, this defining international agreement has served as the foundation for the development of the global civil aviation system to the benefit of all nations.

 

OTHER UPDATES:

 

SCIENCE AND TECHNOLOGY

 

1. Andhra Pradesh ties up with Google for harnessing AI tech: Andhra Pradesh has entered into an agreement with Google under which the tech giant will help the state in adoption of artificial intelligence (AI) in various fields including healthcare, and also give a fillip to the local startup ecosystem there.The collaboration will also focus on promoting skill development and bridging the digital divide by providing citizens with the necessary training and resources to thrive in an AI-driven economy.Additionally, Google will support the state’s startup ecosystem, to fuel innovation and entrepreneurship in the field of AI.Google Cloud will also collaborate with the government to provide skilling programs for government agencies, including Google Cloud Certifications and Skill Badges in areas like cybersecurity, data analytics, and generative AI.

 

2. ISRO successfully launch ESA Probe 3 Spacecraft using PSLV C-59 Rocket: The Indian Space Research Organisation (ISRO) successfully launched the European Space Agency (ESA) Probe 3 Spacecraft from the First Launch Pad, Satish Dhawan Space Centre (SDSC-SHAR), Sriharikota Andhra Pradesh.The ESA Probe 3 was launched onboard ISRO’s Polar Satellite Launch Vehicle (PSLV) C-59.It was NewSpace India Limited’s (NSIL) second successful mission in a fortnight after the launch of the GSAT-20/ GSAT-N2 satellite aboard SpaceX’s Falcon 9 rocket.

 

BANKING AND FINANCE

 

1. RBI Innovation Hub develops MuleHunter.ai to combat mule account fraud: The Reserve Bank of India (RBI) Governor Shaktikanta Das said that the Reserve Bank Innovation Hub has developed an AI/ML-based model, MuleHunter.ai, which will be used to address the issue of mule bank accounts being used to commit financial frauds.As part of the Reserve Bank’s continued efforts to prevent and mitigate digital frauds, an innovative AI/ML-based model, namely MuleHunter.ai, has been developed by the Reserve Bank Innovation Hub (RBIH), Bengaluru. This will help banks deal with the issue of mule bank accounts expeditiously and reduce digital frauds.The RBI has taken several measures to prevent and mitigate digital frauds in the financial sector, including the issuance of cybersecurity and cyber fraud prevention guidelines, among others. According to the RBI, fraudsters use money mule accounts to channel the proceeds of frauds.

 

2. RBI allows small finance banks to offer pre-sanctioned credit via UPI: The Reserve Bank of India (RBI) has decided to permit Small Finance Banks to extend pre-sanctioned credit lines through the UPI.This will further deepen financial inclusion and enhance formal credit, particularly for ‘new to credit’ customers.Credit line on UPI was first introduced in September 2023 and was made available through Scheduled Commercial Banks (SCBs).This move aims to support underserved groups, including small businesses, micro-entrepreneurs, and individuals in rural and semi-urban regions.This development follows an important update from September 2023, when the RBI allowed Scheduled Commercial Banks to link pre-sanctioned credit lines to UPI accounts. Previously, this feature was unavailable to SFBs, Regional Rural Banks, and Payments Banks.

 

3. Neysa and DSW join hands to launch Advanced AI Cloud Platform for Indian Insurance Sector: Neysa, an AI Acceleration Cloud System provider, and Data Science Wizards (DSW), a deep-tech AI platform company, have launched a fully managed Insurance AI Cloud Platform tailored for the Indian insurance industry.The platform is designed to help insurers confidently build, optimize, and deploy AI/ML-powered digital solutions, enhancing operational efficiency, risk management, and customer-centric innovation.With India’s insurance penetration at a modest 4.2% of GDP in 2023, the need for digital transformation in the sector is critical.The platform aims to bridge this gap, offering cutting-edge AI/ML solutions to boost consumer trust, drive efficiency, and enable insurers to scale up with customized offerings.