Daily GK Update- 26th Dec, 2024

 NATIONAL UPDATES:

 

1. Adani’s Mundra port welcomes its first-ever LNG-Powered Vessel: Adani Ports and Special Economic Zone (APSEZ) Mundra welcomed CMA CGM Fort Diamant, the first-ever Liquefied Natural Gas (LNG) powered container vessel to dock at the port’s Container Terminal-CT4.This vessel, measuring 268 meters in length and 43 meters in beam, is the third in a series of LNG-powered ships with a capacity of 7,000 containers.Operating on the CIMEX2K/AS-1 service connects the Indian subcontinent with China, further enhancing global trade routes.Adani’s, Mundra port is India’s largest port and flagship of APSEZ, and is equipped with state-of-the-art infrastructure to handle vessels of up to 21 meters in depth, supported by robust connectivity through highways, rail corridors, and, the Dedicated Freight Corridor (DFC).

 

2. Akums Group inks pact worth 200 million euros for European market: Contract development and manufacturing organisation, Akums Group has entered into a strategic long-term agreement at an estimated value of 200 million euros (Rs 1,760 crore) with an undisclosed global pharma firm for manufacturing and supply of formulations in the European market.Under this collaboration, Akums Group will produce and supply multiple Stock-keeping units of oral liquid formulations, which the partner company will market across various European countries.As part of the agreement, Akums Group will receive an upfront payment of 100 million euros (Rs 880 crore) for product development and site approval from European authorities.The commercial supply of these products is expected to begin in 2027 and will continue to be supplied till 2032.

 

3. PM to distribute over 50 lakh property cards to property owners under SVAMITVA Scheme: Four years after the Union government launched the Svamitva scheme to digitise property records in rural areas, Prime Minister Narendra Modi distributed 58 lakh property cards providing ‘Record of Rights’ to owners in over 50,000 villages across 12 States at a virtual event.Prime Minister was launched the SVAMITVA scheme with a vision to enhance the economic progress of rural India by providing a ‘Record of Rights’, to households possessing houses in inhabited areas in villages through the latest surveying drone technology.The scheme also helps facilitate monetization of properties and enables institutional credit through bank loans; reducing property-related disputes; facilitating better assessment of properties and property tax in rural areas and, enabling comprehensive village-level planning.

 

4. Ajay Bhalla named new Manipur Governor; Arif Mohammed Khan shifted to Bihar: Former Union Home Secretary Ajay Bhalla has been appointed the new Governor of Manipur in the latest gubernatorial appointments and reshuffle by President Droupadi Murmu.The other key appointment is that of former Union Minister General V. K. Singh (Retd.) being made the new Governor of Mizoram, while Kerala Governor Arif Mohammed Khan has been moved to Bihar.The President has also accepted the resignation of Odisha Governor Raghubar Das. The incumbent Governor of Mizoram, Dr. Hari Babu Kambhampati, replaces Mr. Das.The incumbent Bihar Governor Rajendra Vishwanath Arlekar has been named the new Governor of Kerala.

5. Amitava Chatterjee appointed new MD & CEO of J&K Bank: J&K Bank has appointed Amitava Chatterjee, currently Deputy Managing Director of State Bank of India (SBI), as its new managing director (MD) and CEO.Chatterjee will replace Baldev Prakash, whose term comes to an end on December 29.Chatterjee, in his banking career spanning over more than three decades in diverse geographical locations and strategic positions, also served as MD and CEO of SBI CAPS.His diverse experience includes heading the SBI’s operation as CGM New Delhi, circle and Jaipur Circle with high-end clientele like PSUs, NBFCs, and DISCOMs.

 

6. Centre appoints Arunish Chawla as new Revenue Secretary in Finance Ministry: The Appointments Committee of the Cabinet has appointed secretary in the Department of Pharmaceuticals Arunish Chawla as the next revenue secretary.A 1992-batch Indian Administrative Service (IAS) officer from the Bihar cadre, Chawla will takeover from economic affairs secretary Ajay Seth.Seth is holding additional charge of revenue secretary following Sanjay Malhotra’s appointment as Reserve Bank of India (RBI) governor.Chawla has been serving as secretary in the Department of Pharmaceuticals within the Ministry of Chemicals and Fertilisers since November 1, 2023.Chawla has more than three years in service left with his tenure scheduled to end in July 2028.Neelam Shami Rao, currently secretary in the National Commission of Minorities, is the new textiles secretary.

 

INTERNATIONAL UPDATES:

 

1. Maia Sandu Sworn in as President of Moldova for 2nd Term: Ms Maia Sandu was sworn in as theMs Maia Sandu first became the President of Moldova in 2020. She was the first woman to become the President of the country after it gained Independence in 1991, following the collapse of the Soviet Union.According to the constitution of Moldova, a person can be the President of the country for two terms of four years each.During her rule, the country moved away from Russia and sought closer ties with the European Union. In 2022, Moldova applied for membership in the 27-nation European Union.

 

2. 26 December – Boxing Day: Boxing Day is celebrated every year on December 26th.Boxing Day is an official bank holiday in England, Canada, New Zealand, and Australia. In South Africa, it is called the ‘Day of Goodwill’ and is also a holiday.

 

OTHER UPDATES:

DEFENCE

 

1. Defence Secretary launched Rashtraparv Website & Mobile App on Good Governance Day: Defence Secretary Rajesh Kumar Singh has launched the Rashtraparv Website along with its Mobile App on Dec 25, 2024 on the occasion of ‘Good Governance Day’ commemorating the birth anniversary of former Prime Minister Shri Atal Bihari The website will facilitate access to information related to organization of national events such as Republic Day, Beating Retreat Ceremony, Independence Day etc., live streaming, purchase of tickets, provide information related to seating arrangements & route-maps of events etc.The website and mobile application have been a result of consultative process adopted by Ministry of Defence.The states had suggested for a portal for management of tableaux designs data. Similarly, viewers of Republic Day event in the feedback had suggested to have information regarding events, parade, tableaux with them.

 

SPORTS 

 

1. Martina Devi wins silver in women’s junior +87kg at Asian Junior Weightlifting Championships: Indian lifter Martina Devi clinched a silver medal in the women’s junior +87kg category at the Asian Junior Weightlifting Championships.The 18-year-old from Manipur lifted a total of 225kg (96kg+129kg) to finish second in the three-lifter field. She also won a silver medal for her clean and jerk effort and a bronze for her snatch.

 

BANKING AND FINANCE

 

1. Equity raised through IPOs will cross Rs 2 trillion in 2025: Report: India has emerged as the global leader in Initial Public Offerings (IPOs), hosting twice as many IPOs as the United States and 2.5 times more than Europe, shows data analysed by Pantomath Group.In the first 11 months of 2024 alone, 76 companies raised Rs 1.3 trillion. Pantomath Group’s report now predicts Rs 2 trillion+ record-breaking IPO fundraising in 2025.India achieved a historic milestone by securing the top position globally in terms of IPO volume for the first time, surpassing both the US and Europe, with nearly double the number of IPOs listed compared to the US and two-and-a-half times more than Europe.In contrast, the US reclaimed the lead in IPO proceeds for the first time since the peak in 2021, reinforcing its status as the most vibrant and appealing market for global investors,” noted the report.

 

AWARDS AND HONOURS

 

1. RINL wins Gold award at the AP State Energy Conservation Award-2024 competitions: RINL, the corporate entity of Visakhapatnam Steel Plant has won the prestigious “Gold Award” in the State Energy Conservation Award 2024 competitions (conducted by the State Energy Conservation Mission of Andhra Pradesh) for its significant initiatives towards Energy Conservation in the Iron & Steel category.This prestigious Gold award was bestowed on RINL for implementing Energy conservation measures during the last 3 years, harnessing waste energy.The Gold Award was received on behalf of RINL by Sri Uttam Brahma, GM (Energy, Environment & Utilities) RINL and Sri VVVS Pulla Reddy, DGM (Energy Management Department) RINL.

 

Daily GK Update- 25th Dec, 2024

 NATIONAL UPDATES:

 

1. Adani to acquire 85.8% stake in Air Works for Rs 400 cr enterprise value: Adani Group will acquire aviation maintenance, repair, and overhaul (MRO) services firm Air Works for an enterprise value of Rs 400 crore.Adani Defence Systems & Technologies Ltd (ADSTL) has signed a share purchase agreement to acquire 85.8 percent shareholding in Air Works, India’s largest private sector MRO company with the largest pan-India footprint.With operations spanning 35 cities and a workforce of over 1,300 personnel, Air Works brings extensive expertise in servicing both fixed-wing and rotary-wing aircraft.

 

2. India Ranks 49th in Network Readiness Index (NRI) 2024: India has risen to 49th place in the 2024 Network Readiness Index (NRI), climbing 11 positions from the previous year.This ranking is published by the Portulans Institute in Washington DC and evaluates how effectively countries utilize technology for governance and citizen engagement.India’s score improved from 49.93 in 2023 to 53.63 in 2024, reflecting the nation’s commitment to enhancing its digital landscape. The increase in rank from 60th to 49th demonstrates substantial progress in technology adoption.

 

3. TIL to invest ₹20,000 crore to develop Vadhvan Port: Terminal Investment Ltd Sarl (TIL) has signed an MoU with the Jawaharlal Nehru Port Authority (JNPA), proposing to invest Rs 20,000 crore for constructing the Vadhvan Port Project.TIL, headquartered in Geneva, invests in, develops, and manages container terminals across the globe.It is active in 31 countries across five continents. Put together, 70 container terminals, in which the company owns a stake, handled about 65 million twenty-foot equivalent units (TEUs) in 2023.TIL’s majority owner and the main customer is the Mediterranean Shipping Company (MSC), the world’s largest shipping line.

 

4. Former SC Judge V. Ramasubramanian appointed NHRC chairman: President of India has appointed retired Supreme Court Justice V. Ramasubramanian as the Chairperson of National Human Rights Commission. The post of NHRC chief was lying vacant since June this year.President also appointed Priyank Kanoongo and retired Justice Bidyut Ranjan Sarangi as the Members of the NHRC-India.A high-power committee led by Prime Minister Narendra Modi met on December 18 to select the next chairperson of NHRC. Both Leaders of the Opposition (LoPs), Mallikarjun Kharge in the Rajya Sabha and Rahul Gandhi in the Lok Sabha also attended the meeting.A well-known scholar in Tamil and a master of the art of writing judgments, Justice Ramasubramanian was born on June 30, 1958, and obtained his bachelor’s degree in science from Vivekananda College in Chennai before graduating in law from the Madras Law College and enrolling as a member of the Bar on February 16, 1983.

 

5. 25 December – Good Governance Day: ood Governance Day is observed on 25th December each year in India to honor the birth anniversary of Atal Bihari Vajpayee, former Prime Minister of India. This year marks Vajpayee’s 100th birth anniversary.The day aims to promote transparency, accountability, and effective governance at all levels of government, emphasizing the importance of public service and citizen welfare. It focuses on improving government processes and encouraging digital governance to enhance the delivery of services to citizens.Atal Bihari Vajpayee was born on December 25, 1924, in Gwalior, Madhya Pradesh. He served as India’s Prime Minister on three occasions: first in 1996 for 13 days, then from 1998 to 1999 for 13 months, and finally from 1999 to 2004 for a full term. Vajpayee, a celebrated poet and writer, was the first leader from the Bharatiya Janata Party (BJP) to become Prime Minister.

 

INTERNATIONAL UPDATES:

 

1. Trump appoints Indian American Krishnan as senior policy advisor on AI: US President-elect Donald Trump named Indian American entrepreneur, venture capitalist and author Sriram Krishnan as Senior White House Policy Advisor on Artificial Intelligence.Krishnan, who has previously led product teams at Microsoft, Twitter, Yahoo!, Facebook and Snap, will work along with David O. Sacks who will be the White House AI & Crypto Czar.Working closely with David Sacks, Sriram will focus on ensuring continued American leadership in AI and help shape and coordinate AI policy across government, including working with the President’s Council of Advisors on Science and Technology. Sriram started his career at Microsoft as a founding member of Windows Azure.

 

2. Tonga elects ’Aisake Valu Eke’ as new Prime Minister: The Pacific Island nation of Tonga has elected veteran politician Aisake Valu Eke as its new Prime Minister.Aisake Valu Eke will succeed the former Prime Minister Siaosi Sovaleni who resigned two weeks ago after a no-confidence motion was moved against him in the Parliament.Aisake Valu Eke will be formally sworn in as the new Prime Minister of the country in February 2025 and is expected to lead the country into the next general elections scheduled for November 2025.

 

OTHER UPDATES:

DEFENCE

 

1. China to Build World’s Largest Dam on Brahmaputra Near India Border: China has recently approved the construction of the world’s largest dam on the Brahmaputra River, located in Tibet near the Indian border, which is poised to cost approximately $137 billion. The dam has sparked concerns among neighboring countries, particularly India and Bangladesh, regarding potential impacts on water flow and regional stability. Situated in a deep gorge of the Himalayas, the dam faces engineering challenges due to its location on a tectonic plate boundary. The area is prone to earthquakes, and the Brahmaputra creates the world’s deepest canyon with a vertical drop exceeding 25,000 feet. Heavy rainfall in the region contributes to a robust water flow.

 

1. China’s J-20 Stealth Fighter Jet: Recent social media activity has showcased new Chinese combat aircraft, reflecting advancements in aerospace technology, coincide with notable anniversaries, including the J-20 stealth fighter’s rollout and Mao Zedong’s birthday. One of the newly revealed aircraft features a large, three-engine design. It has a unique cockpit and diamond-shaped wings without vertical tails. The aircraft employs split rudders for yaw control, reminiscent of the Northrop Grumman B-2. Its engines include a top inlet for enhanced stealth and two bottom inlets shaped like caret symbols, which are less stealthy. The aircraft’s size suggests the presence of an internal weapons bay.

 

BANKING AND FINANCE

 

1. Government of India and Asian Development Bank sign $500 million loan to support sustainable infrastructure projects: The Government of India and the Asian Development Bank (ADB) signed a $500 million loan to support green and sustainable infrastructure projects aligned with the country’s climate commitments.The ADB loan, with a sovereign guarantee, will be extended to the India Infrastructure Finance Company Limited (IIFCL).The project will build the institutional capacity of IIFCL to integrate green and best practices into the infrastructure projects.A sustainability unit and an environmental sustainability framework and scoring method to assess the sustainability rating of the projects will also be established.

 

2. Aditya Birla Capital Becomes First to Integrate Financial Services on ONDC: Aditya Birla Capital is the first financial services company to integrate lending, insurance, and investments on the Open Network for Digital Commerce (ONDC).ONDC is a government initiative to create an open and interoperable e-commerce network. It allows buyers and sellers to transact across platforms, supporting inclusivity and competition in digital commerce.By offering all three services, Aditya Birla Capital provides easier access to financial products. As a Wave-1 participant, the company has contributed to building the financial services ecosystem on ONDC. Wave-1 participants are early adopters who help develop the infrastructure for others to join.Aditya Birla Capital’s personal loans, health insurance, and mutual fund services are available on the ONDC platform through multiple buyer apps, enabling users to access these financial products without downloading extra applications.

 

3. UPI QR transactions jump 33% at retail stores in Bharat this year: Report: UPI transactions at retail stores have increased by 33 percent in semi-urban and rural areas this year, reflecting the growing adoption of digital payments, according to a report.Moreover, insurance policy purchases and premium collections saw a 127 percent increase in transaction volume and, a 96 per cent growth in new customer adoption during the year, the report by branchless banking and digital network PayNearby.The report is based on an analysis of real transaction data derived from over 10,00,000 small retailers (kirana stores, mobile recharge stores etc) offering financial and digital services spread across India in rural and semi-urban regions.The findings compare business data from January to November 2024 with the same period in 2023.The report, Retail-O-Nomics, stated that there has been an impressive 297 per cent volume rise across credit products, including business loans, gold loans, personal loans, and revolving credit in rural and semi-urban areas.

 

4. Claims ratio of non-life insurers dips to 82.52% in FY24: IRDAI report: Net incurred claims to net earned premium (claims ratio) of non-life insurance industry stood at 82.52 percent during 2023-24 as against 82.95 percent in the preceding fiscal year, as per the IRDAI’s annual report.According to the Annual Report 2023-24 of the Insurance Regulatory and Development Authority of India (Irdai), during 2023-24, the non-life insurance industry underwrote a total direct premium of Rs 2.90 lakh crore in India registering a growth of 12.76 per cent from previous year.The contribution of public sector general insurers increased 8.88 per cent from Rs 82,891 crore in 2022-23 to Rs 90,252 crore in 2023-24.Private sector insurers, including standalone health insurers, have underwritten Rs 1.88 lakh crore as against Rs 1.58 lakh crore in 2022-23.

 

AWARDS AND HONOURS

 

1. SAIL wins 8 national awards for communication excellence: The Public Relations Society of India (PRSI) has conferred eight national awards on Steel Authority of India Limited (SAIL).These PRSI National Awards 2024 were given away at the 46th All India Public Relations Conference held at Raipur.SAIL has been recognised in various categories viz. E-Newsletter for SAIL Track, Corporate Film (English), Best Communication Campaigns (Internal Publics) for SAIL Gaurav Diwas celebration, House Journal (English) for SAIL News, Best PR Programme for Promoting Science & Technology for steel plant technologies, Best Use of social media in a Corporate Campaign for promoting green steel, corporate website.This recognition is a testimony to SAIL’s dedication to excellence in communication. Allemployees of SAIL have appreciated this achievement.Chairman of SAIL- Amarendu Prakash

 

Daily GK Update- 24th Dec, 2024

 NATIONAL UPDATES:

 

1. Arvind Kejriwal launches Dr Ambedkar Samman Scholarship for Dalit students: Aam Aadmi Party (AAP) chief Arvind Kejriwal has launched a new scholarship programme aimed at Dalit students in Delhi.The scheme, named the Dr Ambedkar Samman Scholarship, will cover all expenses for Dalit students wishing to pursue higher education abroad.The Delhi government would bear the entire cost of tuition, travel, and accommodation for those Dalit students who are accepted into foreign universities.

 

2. Govt to infuse Rs 500 cr in IFCI to improve its financial health: The government has decided to infuse Rs 500 crore capital in state-owned IFCI to improve its financial health ahead of the company’s proposed restructuring and consolidation into a group.With the infusion, the government of India’s holding in the company is expected to further increase from existing 71.72 per cent as on September 2024.The capital infusion plan for IFCI was approved through the passage of the first Supplementary Demand for Grants for 2024-25 in Lok Sabha last week.The Supplementary Demand for Grants for 2024-25 made an allocation for an additional amount of Rs 499.99 crore for ‘Subscription to the Share Capital of Industrial Finance Corporation of India (IFCI).The Industrial Finance Corporation of India was set up by the government on July 1, 1948 as the first Development Financial Institution in the country.

 

3. Govt forms committee to look into IAF’s overall capability development: The Defence Ministry has set up a committee to address the capability development of the Indian Air Force (IAF) amid critical shortage of fighter jets, weapons, and equipment.Chaired by the Defence Secretary Rajesh Kumar Singh, the committee includes senior ministry officials, Defence Research and Development Organisation (DRDO) chairman Dr Samir V Kamat, and IAF representatives.After comprehensive IAF briefings, the panel was tasked with preparing recommendations, which are expected to be submitted within two to three months.

 

4. RTE Amendments 2024: Schools now allowed to fail class 5 and 8 students: In a major shift in school education policy, schools will now have the authority to ‘fail’ students in classes 5 and 8 if their performance does not meet required standards.The central government announced this amendment in the Right of Children and Free School Education Act 2010 (RTE Act 2010).The new amendments allow states to hold regular exams for the students of class 5 and 8 and hold them back if they fail. These amendments come five years after the RTE Act was amended, in 2019. Under the new rules, states are allowed to conduct ‘regular examinations for Classes 5 and 8 at the end of the academic year’.Students who ‘fail’ these exams will receive ‘additional instruction’ and have the chance to retake the examination two months later. If they still fail to meet the promotion criteria, they will be forced to repeat Class 5 or Class 8.

 

5. 23 December – National Farmer’s Day: Kisan Diwas, or National Farmer’s Day, is observed annually on December 23 to honour the birth anniversary of Chaudhary Charan Singh, India’s fifth Prime Minister and a dedicated advocate for farmers.This day is celebrated to express gratitude to the farmers who form the foundation of the country’s economy.Theme 2024 – Empowering ‘Annadatas’ for a Prosperous NationKisan Diwas, or National Farmer’s Day, is observed annually on December 23 to honour the birth anniversary of Chaudhary Charan Singh, India’s fifth Prime Minister and a dedicated advocate for farmers.In 2001, the Government of India designated December 23 as Kisan Diwas to commemorate Chaudhary Charan Singh’s contributions toward the upliftment of farmers.

 

6. 24 December – National Consumer Rights Day: National Consumer Rights Day is observed on December 24 every year in India to raise awareness about consumer rights and advocate for consumer protection.The day commemorates the enactment of the Consumer Protection Act, 1986, which provides a framework for protecting consumers from unfair trade practices.It aims to educate consumers about their rights, including the right to safety, information, choice, and redress in cases of grievance.

 

INTERNATIONAL UPDATES:

 

1. Indians can travel to Malaysia without a visa for 30 days until Dec 2026: Malaysia has extended its visa exemption for Indian nationals until December 31, 2026, allowing them to visit the country without a visa for up to 30 days.This announcement was made by Datuk Awang Alik Jeman, the Secretary-General of the Home Ministry, who emphasized that the extension aligns with Malaysia’s 2025 ASEAN chairmanship and, the preparations for Visit Malaysia Year 2026.The visa liberalization plan, initially introduced in 2023, aims to enhance tourism and stimulate economic growth. A similar exemption also been granted to Chinese nationals, signaling Malaysia’s commitment to attracting more visitors from key markets. Currently, two airlines operate flights between Kolkata and Kuala Lumpur.

 

OTHER UPDATES:

 

SPORTS 

 

1. Russian tennis player Daniil Savelev suspended for 2 years for doping: Russian tennis player Daniil Savelev has been handed a two-year suspension for violating anti-doping regulations.The International Tennis Integrity Agency (ITIA) announced that Savelev tested positive for the prohibited substance meldonium during a test conducted in July 2024.Consequently, he has been provisionally suspended since August of the same year, and his suspension will conclude in August 2026.At the time of the violation, Savelev had achieved a career-high world doubles ranking of 1,486 in August 2022.

 

 

SCIENCE AND TECHNOLOGY

 

1. ISRO-European Space Agency Sign Deal For Cooperation In Astronaut Training: Indian Space Research Organisation (ISRO) has entered into an agreement with European Space Agency (ESA) for cooperation on activities related to astronaut training, mission implementation, and research experiments.The agreement was signed by ISRO Chairman and Secretary, Department of Space (DOS) Dr S Somanath and ESA Director General Dr Josef Aschbacher.The agreement provides a framework for cooperative activities in human space exploration and research, especially in areas such as astronaut training, support for experiment development and integration, using ESA facilities on the International Space Station (ISS), human and biomedical research experiment implementation as well as joint education and outreach activities.For the upcoming Axiom-4 mission in which ISRO’s Gaganyatri and ESA’s astronaut are crew members, both agencies are collaborating to implement shortlisted experiments by Indian Principal Investigators on ISS.

 

2. South Korea successfully launches 3rd spy satellite into orbit: South Korea successfully placed into orbit its third homegrown spy satellite launched from a US space centre.SpaceX Falcon 9 rocket carrying the satellite normally lifted off from the Vandenberg Space Force Base in California as planned.It is the third military satellite launched under South Korea’s plan to acquire five spy satellites by 2025. South Korea has previously relied largely on satellite imagery provided by the United States.

 

BANKING AND FINANCE

 

1. Poonawalla Fincorp Introduces AI in its HR Processes: Poonawalla Fincorp has embarked on a groundbreaking initiative by integrating Artificial Intelligence (AI) across its Human Resources (HR) Strategic Business Unit (SBU).This industry-first move, is set to transform operational standards and ignite innovation within the financial services sector.Poonawalla Fincorp’s AI integration has revolutionized HR processes by drastically reducing the time to finalize job offers from traditionally around ten days to just under onea 90% decrease.This accelerated process is made possible by advanced AI tools that efficiently handle document verification and candidate screening. The use of AI has not only sped up the recruitment cycle but also achieved significant reduction in operational costs, significantly enhancing both efficiency and cost management.

 

AWARDS AND HONOURS

 

1. IREDA Bags Triple Honours at 14th PSE Excellence Awards: Indian Renewable Energy Development Agency Limited (IREDA) has been honoured with three awards at the 14th PSE Excellence Awards ceremony, organized by the Indian Chamber of Commerce (ICC) in New Delhi.

The company won Gold Awards in the Mini Ratna category for “Corporate Governance” and “Corporate Social Responsibility & Sustainability.”Additionally, IREDA received the Silver Award for “Operational Performance Excellence.”The awards were presented by Dr. Bhaskar Chatterjee, Former Secretary, Department of Public Enterprises, and Shri Apurv Kumar Mishra, Member, Economic Advisory Council to the Prime Minister.

 

 

Daily GK Update- 23rd Dec, 2024

 NATIONAL UPDATES:

 

1. Environment Minister Bhupendra Yadav releases India State of Forest Report 2023: Minister for Environment, Forest and Climate Change, Bhupender Yadav released the ‘India State of Forest Report 2023 (ISFR 2023) at Forest Research Institute,The ISFR has been brought out by the Forest Survey of India (FSI) on a biennial basis since 1987. FSI conducts an in-depth assessment of the country’s forest and tree resources based on the interpretation of remote sensing satellite data and field-based National Forest Inventory (NFI), and the results are published in the ISFR. The India State of Forest Report 2023 is the 18th such report in the series.According to the report, India’s total forest and tree cover spans 827,357 square kilometres, accounting for 25.17% of the country’s geographical area. Additionally, the total forest cover has increased by 1,445 square kilometres compared to the 2021 assessment.

 

2. Rajasthan to spend Rs 100 cr annually on one-district-one-product policy: Rajasthan plans to spend Rs 100 crore annually on the one-district-one-product (ODOP) policy for local artisans, farmers, manufacturers and entrepreneurs.The policy was launched some days ago and it is inspired by Prime Minister Narendra Modi’s “Vocal for Local” vision, said an official of the state industries department. ODOP will also benefit workers, traders and exporters in the state’s 50 districts.The ODOP initiative targets to foster balanced regional development across all districts of the state. The idea is to select, brand and promote one product from each district of the state to enable holistic socioeconomic growth across all regions.

 

3. Namo Bharat train commuters to get 10 per cent discount on tickets through RRTS app: Namo Bharat train commuters can avail a 10 per cent discount on tickets purchased through the RRTS Connect mobile application as part of the “loyalty points program” launched by NCRTC.National Capital Region Transport Corporation (NCRTC) Managing Director Shalabh Goel launched the initiative at the Sahibabad Regional Rapid Transit System (RRTS).Under the loyalty points program, passengers will earn one point for every rupee spent on Namo Bharat train tickets.Each loyalty point is valued at Rs 0.10 (10 paise) and will be credited to the passenger’s account. These points can be redeemed for ticket purchases. Each loyalty point is valued at Rs 0.10 (10 paise) and will be credited to the passenger’s account.

 

4. Amit Shah chairs 72nd Plenary meeting of NEC at Agartala: The union Home minister and Minister of Cooperation, Amit Shah, chaired the 72nd plenary session of the North Eastern Council (NEC) at Agartala, Tripura.The last plenary session of the North Eastern Council was hosted by Agartala in 2008.Under the provision of the North Eastern Council Act 1971, as amended in 2002, the Council meeting is held at least twice a year.What is the North Eastern Council?The North Eastern Council was set up under the North East Council Act 1971 provisions. It was inaugurated on 7th November 1972 by PM Indira Gandhi in Shillong, Meghalaya.Initially, it consisted of seven states of the North East- Assam, Meghalaya, Tripura, Arunachal Pradesh, Nagaland, Mizoram and Arunachal Pradesh.

INTERNATIONAL UPDATES:

 

1. Former SC Judge Justice Madan Lokur appointed chairperson of U.N. Internal Justice Council: Former Supreme Court judge Madan B Lokur has been appointed as chairperson of the United Nations Internal Justice Council (IJC).Lokur has been appointed for a 4-year-tenure ending on 12th November 2028. In a communication to Justice Lokur.The General Assembly of the UN established the IJC as part of the new internal justice system to help ensure independence, professionalism and accountability in the administration of the UN’s justice system. Justice Madan Lokur retired as a judge of the Supreme Court on 31 December, 2018, after a tenure of more than 6 years.

 

2. 21 December – World Basketball Day: World Basketball Day, celebrated on 21 December, honors one of the most popular sports globally.This date is significant as it marks the birth anniversary of Dr. James Naismith, the inventor of basketball. Dr. Naismith first introduced basketball in December 1891 while teaching at the International YMCA Training School in Springfield, MassachusettsThe global significance of basketball was officially acknowledged by the United Nations General Assembly on August 25, 2023, through the adoption of resolution A/RES/77/324. This resolution declared December 21 as World Basketball Day, celebrating the sport’s ability to bring together people from all walks of life.

 

OTHER UPDATES:

 

SPORTS 

 

1. National Rifle Association Of India to host ISSF Junior World Cup 2025: India will host of the International Shooting Sport Federation (ISSF) Junior World Cup Rifle/Pistol/Shotgun 2025.This will be the third top ISSF event to be held in the country after the senior World Cup in Bhopal in 2023 and the season-ending ISSF World Cup Final earlier this year, reinforcing India’s stature as one of the sport’s top destinations in the world.This will be the ninth top level Shooting championship to be held in India over the past decade but the first ISSF Junior World Cup. Before this India had hosted to continental championships and six ISSF competitions, including two World Cup Final competitions besides four senior ISSF World Cups.

 

2. India clinches U19 ACC Women’s T20 Asia Cup Title: In Women’s Cricket, India clinched the inaugural Under-19 ACC Women’s T20 Asia Cup title at Kuala Lumpur, Malaysia, after defeating Bangladesh by 41 runs in the final.Chasing a target of 118, Bangladesh was bowled out for a modest 76 runs in just 18.3 overs. For India, Aayyushi Shukla claimed three wickets, while Parunika Sisodia and Sonam Yadav took two wickets each.Earlier, India, batting first, scored 117 for seven in their allotted 20 overs. Gongadi Trisha was the top scorer with a solid 52 runs off 47 balls. For Bangladesh, Farjana Easmin shone with the ball, picking up four wickets.The tournament, which began on 15th December, featured six of the best teams from the continent vying for the title. India, led by Niki Prasad, remained unbeaten throughout the competition.

 

BANKING AND FINANCE

 

1. India signs $350 million loan agreement with ADB to expand manufacturing sector: The Government of India and the Asian Development Bank (ADB) signed a $350 million policy-based loan under the second subprogram of Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) program.The SMILE program is a programmatic policy-based loan (PBL) to support the government in undertaking wide-ranging reforms in the logistics sector in India.The programmatic approach comprises two subprograms, which aim to expand India’s manufacturing sector and improve the resilience of its supply chains.The program establishes and operationalizes a comprehensive policy framework to enhance logistics efficiency through (i) strengthening the institutional bases for multimodal logistics infrastructure development at the national, state, and city levels; (ii) standardizing warehousing and other logistics assets to strengthen supply chains and incentivize greater private sector investment; (iii) improving efficiencies in external trade logistics; and (iv) adopting smart systems for efficient and low emission logistics.

 

2. SEBI directs MIIs to adopt uniform policy on data sharing for research: The market regulator Securities and Exchange Board of India (SEBI) directed stock exchanges, clearing corporations, and depositories to adopt a uniform policy for sharing data meant for research and research publications undertaken by accredited academic institutions.These market infrastructure institutions (MIIs) have been asked to segregate such data into two baskets—one that can be shared with the public and the second that cannot be made public.The first basket will include only aggregate and analysed data, such as reporting and disclosure data mandated by regulators. The segregation is intended to prevent the disclosure of any personal, sensitive, or confidential information in the public domain.The second basket includes know-your-customer (KYC) information, trade logs, and holding details of an entity or individual, along with the identity of the entity or individual. Further, even anonymised data that could potentially identify the individual or entity will not be shared in the public domain.

 

3. Tata Power, Canara Bank partner to offer loans for rooftop solar systems: Tata Power Renewable Energy, a unit of Tata Power, has partnered with state-run Canara Bank to drive the adoption of rooftop solar systems under the government-backed PM Surya Ghar Scheme, offering affordable financing options to Indian households.The initiative aims to simplify access to clean energy solutions by providing loans for residential solar installations.Loans of up to Rs 2 lakh are available for systems with a capacity of up to 3 kW (kilowatt), requiring a 10 per cent margin and no collateral, with an interest rate of 7 per cent per annum and a 10-year repayment period.For larger systems, ranging from 3 kW to 10 kW, loans of up to Rs 6 lakh are offered with a 20 per cent margin, no collateral, and a 10 per cent annual interest rate over a decade.

 

AWARDS AND HONOURS

 

1. Ashwini Vaishnaw confers 69th Ati Vishisht Rail Seva Award 2024: Union Railway and Information and Broadcasting Minister Ashwini Vaishnaw conferred the 69th Ati Vishisht Rail Seva Award 2024 to 101 employees and officers for their exceptional contributions to the Indian Railways.The 101 awardees have been selected across various categories, including innovation leading to improvement in productivity, revenue generation, safety, improvement in operation, security, project completion, and sports.In addition to the individual awards, 22 Shields have been presented to the best-performing Railway Zones in various categories, recognizing their outstanding achievements and contributions to the overall performance of the Indian Railways.

 

2. Jaishankar receives ‘Sri Chandrasekarendra Saraswathi’ award for leadership: External Affairs Minister S Jaishankar was awarded the Sri Chandrasekarendra Saraswathi National Eminence Award for Public Leadership by the South Indian Education Society (SIES).

· Bhutan’s royal honour – Renowned Indian educationist Arun Kapur

· Jamsetji Tata Award by Indian Society for Quality (ISQ) – Kiran Mazumdars

· J C Daniel Award for 2023 – J C Daniel Award

· Social Security Good Practices at Asia-Pacific forum in Saudi – EPFO

· 3rd PSU Transformation Award under the “Innovative Product Development” category – Solar Energy Corporation of India (SECI)

· Aster Guardians Global Nursing Award 2024 – Nurse Maria Victoria Juan (from Philippines)

 

 

Daily GK Update- 22nd Dec, 2024

 NATIONAL UPDATES:

 

1. Why S.A.F.E. Accommodation Matters?: The S.A.F.E. accommodation initiative offers a comprehensive framework by aligning regulatory and financial frameworks. The report identifies several benefits of S.A.F.E.:Enhancing Workforce Productivity and Retention: Proximate and well-designed housing improves workers’ quality of life, reduces commute times, and enhances overall productivity.Attracting Global Investments: High-quality accommodations demonstrate India’s commitment to international standards, thereby making the country a preferred destination for manufacturing investments. Aligning with Global Labour Standards: Adherence to international labour standards enhances India’s reputation and competitiveness in the global market.

 

INTERNATIONAL UPDATES:

 

1. Salman Khan joins hands as Brand Ambassador to promote inaugural Kho Kho World Cup: The Kho Kho Federation of India (KKFI) has officially appointed Bollywood superstar Salman Khan as the brand ambassador for the inaugural Kho Kho World Cup, which will be held in New Delhi from January 13 to 19, 2025.This event will see the participation of teams from 24 countries and is set to boost the global profile of Kho Kho. The event will feature 21 men’s teams and 20 women’s teams, representing 24 countries.The tournament aims to showcase the sport’s widespread appeal, with an exciting lineup of men’s and women’s teams competing for the first time on the world stage.The Kho Kho World Cup will see 21 Men’s and 20 Women’s teams competing in the week-long tournament, seeing participation of 24 nations traveling for the tournament to India.

 

2. World Meditation Day Observed on December 21: The United Nations General Assembly has recently declared December 21 as World Meditation Day, which aims to promote awareness of meditation’s benefits for health and well-being. It was co-sponsored by several nations, including India and Mexico, and emphasizes the right to good physical and mental health. The inaugural theme for 2024 is “Inner Peace, Global Harmony.” Meditation traces its roots back approximately 4,000 years to India, which has evolved over centuries and is now embraced globally. Various cultures have adapted meditation practices, contributing to its diverse forms. It typically involves focus, awareness, relaxation, and transcendence. Practitioners concentrate on elements such as breath, sounds, or mantras. This focus promotes heightened awareness of thoughts and emotions, encouraging a non-judgmental presence in the moment.

 

3. India to Host World Boxing Cup Final 2025: India is set to host the World Boxing Cup Final in November 2025, marking a milestone as it marks India’s support for the newly established World Boxing (WB) organization. The Boxing Federation of India (BFI) will also conduct the third World Boxing Congress concurrently, which will feature elections for the Presidency and Executive Board. The Boxing Federation of India will oversee the organisation of both the World Boxing Cup Final and the World Boxing Congress. This includes managing logistics, ensuring athlete welfare, and creating a competitive environment. The BFI aims to provide a platform for boxers from around the world to showcase their talent.

 

OTHER UPDATES:

DEFENCE

 

1. MoD inks Rs 7,629 crore contract with L&T for K9 VAJRA-T Self-Propelled Tracked Artillery Guns for Indian Army: The Ministry of Defence (MoD) has signed a Rs 7,628.70 crore contract with Larsen & Toubro Limited (L&T) for the procurement of additional 155 mm/52 calibre K9 Vajra-T self-propelled tracked artillery guns for the Indian Army.The procurement falls under the “Buy (Indian) category”, providing a further boost to the Centre’s “Aatmanirbhar Bharat” (self-reliant India) initiative.The procurement of the latest batch of K9 Vajra-T guns will “catalyse artillery modernisation” and “enhance the Indian Army’s overall operational readiness”. The guns will be manufactured under licence from South Korean defence major Hanwha Defense, extending an initial contract for 100 guns that has already been completed.

 

2. India and Vietnam Coast Guard Joint Exercise: The Vietnam Coast Guard Ship CSB 8005 departed Kochi after a successful visit that enhanced cooperation between the Vietnam Coast Guard (VCG) and the Indian Coast Guard (ICG). This four-day visit included various activities aimed at improving maritime security collaboration. An aspect of the visit was the sea exercise named Sahayog Hop Tac, which took place off the coast of Kochi. This exercise addressed critical maritime security issues and featured a Pollution Response Demonstration.During the demonstration, ICG ships and aircraft showcased their capabilities in responding to oil spills and environmental hazards. This exercise aimed to enhance preparedness for potential maritime disasters.

 

3. DRDO, IIT-Delhi and Industry Sign 10 Key Agreements: The DIA-CoE event “DIA-GARIMA” took place at IIT Delhi on December 19, 2024, which focuses on enhancing indigenous military applications through  collaboration among defence organisations, academic institutions, and industry partners. The event witnessed the signing of ten agreements aimed at boosting defence technology. During the event, notable agreements included the transfer of technology for lightweight bullet-resistant jackets (ABHED) to companies such as MIDHANI, SMPP Pvt Ltd, and AR Polymers. Additional agreements were established for the development of indigenous ballistic materials with Reliance Industries. Partnerships also emerged for producing extreme weather clothing with Aeronav, Arrow Garments, and Katalyst TECHTEX.

 

 

 

SCIENCE AND TECHNOLOGY

 

1. China astronauts script history with world’s longest spacewalk, break US record: China’s space programme achieved a milestone as two of its astronauts completed a nine-hour spacewalk.The nine-hour extravehicular activity (EVA) by Shenzhou-19 crew members Cai Xuzhe and Song Lingdong surpassed a 22-year-old record held by the US.The two astronauts aboard the Tiangong space station have set the new world record for the longest spacewalk, as reported by the South China Morning Post.Cai and Song wrapped the nine-hour extravehicular activity, better known as a spacewalk.According to NASA, the previous record of eight hours and 56 minutes was set by US astronauts James Voss and Susan Helms on March 12, 2001.Both the astronauts were supported by crewmate Wang Haozhe, who remained inside the station. Tiangong’s robotic arms and ground control teams also contributed to the mission’s success.

 

2. Phewa Dialogue 2024: The Phewa Dialogue series commenced recently, marking collaboration between Nepal and China, in Pokhara, a city renowned for its picturesque lake. Former President Bidya Devi Bhandari inaugurated the dialogue, denoting its importance for regional cooperation. Sichuan University’s China Center for South Asian Studies and Tribhuvan University’s Department of International Relations and Diplomacy are hosting the event. Their collaboration signifies a unified approach to addressing South Asian challenges. This partnership also puts stress on the role of academic institutions in shaping policy discussions.Pokhara, known for its natural beauty, serves as an ideal backdrop for the dialogue. The choice of location aims to attract attention to Nepal’s potential as a host for international forums. The scenic environment is expected to inspire constructive discussions among participants.

 

BANKING AND FINANCE

 

1. M2P Fintech Collaborates with SBI to Revolutionise Prepaid Payment Solutions: M2P Fintech has joined hands with the State Bank of India (SBI) to deliver seamless and secure payment experiences.This collaboration aims to introduce innovative and user-friendly solutions, positioning prepaid payment systems as smarter, more efficient alternatives in the financial landscape.The partnership focuses on leveraging M2P Fintech’s advanced technology platform, renowned for its agility and scalability, combined with SBI’s vast network and customer base. Together, they seek to address the evolving needs of digital payment users, ensuring convenience, security, and reliability.Under this alliance, M2P Fintech will enable SBI to strengthen its prepaid offerings with advanced features such as real-time tracking, instant card issuance, and enhanced fraud prevention mechanisms. These features are designed to cater to diverse use cases, including corporate disbursements, travel cards, and gift cards, providing unmatched flexibility to businesses and consumers alike.

 

2. RBI imposes fine on Manappuram Finance, IndusInd Bank over non-compliance: The Reserve Bank of India (RBI) has imposed penalties on IndusInd Bank and Manappuram Finance amounting to Rs 27.3 lakh and Rs 20 lakh, respectively, for non-compliance with norms.The statutory inspection of the companies was conducted by the RBI with reference to their financial position as of March 31, 2023.The penalty on Manappuram Finance was imposed for failing to undertake customer PAN verification at the time of customer acceptance and for allotting multiple identification codes to some customers instead of a Unique Customer Identification Code (UCIC) for each customer.A penalty of Rs 27.30 lakh has been imposed on IndusInd Bank for non-compliance with certain provisions of norms related to ‘interest rate on deposits.The RBI had conducted a statutory inspection for supervisory evaluation of the bank with reference to its financial position as on March 31, 2023, and had issued a notice to the private sector lender.

 

3. Shriram Finance launches Green Finance Vertical: Shriram Finance Limited, a financial services company, has launched a new vertical to manage all its commitments to green financing.The newly-launched Shriram Green Finance plans to build on the group’s existing portfolio of green financing, mostly focused on electric vehicles (EVs) and explore opportunities beyond this segment.In particular, Shriram Green Finance would focus on financing electric vehicles (EV), battery charging stations, renewable energy and energy efficient machinery.Shriram Finance is targeting assets under management (AUM) of Rs 5,000 crore ($588 million) over the next three to four years under the portfolio. It also plans to raise funds from domestic and international sources, focusing on green investments.At the initial stage, Shriram Green Finance will focus on building its EV portfolio in Karnataka, Kerala, Delhi NCR and Maharashtra.

 

AWARDS AND HONOURS

 

1. Maharashtra Prisons and Correctional Services Act, 2024: The Maharashtra assembly recently passed the Maharashtra Prisons and Correctional Services Act, 2024, aimed at modernizing the state’s prison system. This legislation is based on the 2023 Model Prisons Bill from the central government and introduces substantial reforms. The law categorizes prisons into various types, including special prisons, open prisons for women, and temporary prisons. Open colonies will facilitate the reintegration of former inmates into society.The Act prioritizes rehabilitation over punishment, replacing the colonial-era Prisons Act of 1894. It introduces a Director General of Prisons and Correctional Rehabilitation, reflecting a modern approach to correctional services.