Important

Monthly Current Affairs Capsule

December 2023

S. No Topics Page No

1. IMPORTANT DAYS 03

2. NATIONAL NEWS 09

3. INTERNATIONAL NEWS 42

4. STATE NEWS 56

5. BUSINESS NEWS 70

6. BANKING AND ECONOMY 76

7. AWARDS AND HONOURS 132

8. APPOINTMENTS & RESIGNATIONS 139

9. MOUS AND AGREEMENT 153

10. RANKING AND INDEXES 160

11. DEFENCE NEWS 165

12. SCIENCE & TECHNOLOGY 172

13. ACQUISITIONS & MERGERS 186

14. SPORTS NEWS 189

15. OBITUARIES 196

 IMPORTANT DAYS
World AIDS Day: 1st December
• World AIDS Day 2023 is observed on the 1st of December 2023.
• On 1st December, WHO, together with communities and partners will commemorate World AIDS
Day 2023, under the theme “Let communities lead”.
• World AIDS Day was first initiated in 1998 and observed on December 1.
• World AIDS Day was the first day celebrated for health awareness.
National Pollution Control Day: 2nd December
• National Pollution Control Day 2023 is observed on the 2nd of December 2023.
• National Pollution Control Day is observed to create awareness about pollution which is causing
harm to our environment and living beings.
• It is nationally observed for the remembrance of an Industrial accident that took place in Bhopal
which took thousands of lives in 1984.
• The Bhopal gas tragedy happened on the night of 2nd and 3rd December in the year 1984
because of the unintentional discharge of the poisonous chemical known as Methyl Isocyanate
(also called MIC) as well as some other chemicals released from the Union Carbide Chemical
Plant positioned in the city.
International Day for the Abolition of Slavery: 2nd December
• International Day for the Abolition of Slavery 2023 is observed on the 2nd of December 2023.
• The International Day for the Abolition of Slavery focuses on eradicating modern forms of slavery
like trafficking, sexual exploitation, child labour, forced marriage, and forced recruitment of children
into armed conflict.
• The International Labor Organization puts the number of victims of modern slavery at 40 million
worldwide.
• U.N. Working Group on Slavery submitted a report that tendered the date for consideration as the
World Day for the Abolition of Slavery in 1985.
World Computer Literacy Day: 2nd December
• World Computer Literacy Day 2023 is observed on the 2nd of December 2023.
• World Computer Literacy Day was launched in 2001 by an Indian company called N.I.I.T. to
celebrate its 20th anniversary.
• The Company was founded in 1981 by Rajendra Singh Pawar and Vijay K. Thadani. N.I.I.T stands
for National Institute of Information Technology, is a skills and talent development company.
International Day of Persons with Disabilities 2023 Theme and History: 3rd December
• International Day of Persons with Disabilities 2023 is observed on the 3rd of December 2023.
• The theme for 2023 is 'United in action to rescue and achieve the sustainable development goals
for, with and by persons with disabilities'.
• In 1976, the UN General Assembly decided that from 1981 International Day of Persons with
Disabilities will be celebrated globally.
• The UN announced 3rd December as the official date for celebrating the International Day of
Persons with Disabilities.
• The first Paralympic games were hosted in 1960.

Indian Navy Day: 4th December

• Indian Navy Day 2023 is observed on the 4th of December 2023.
• The Indian Navy was established by the East India Company in 1612.
• Indo-Pakistan took place in 1971.
• During the war, Pakistan launched an attack on December 3 on Indian air bases.
• In response to their offensive attacks, the Indian Navy planned an attack on the night of December
4 & and 5, as Pakistan didn’t have the aircraft to carry out bombings.
International Volunteer Day: 5th December
• International Volunteer Day 2023 is observed on the 5th of December 2023.
• This year's theme is "If everyone did..."
• Volunteerism started in Europe to support elderly people within the community by carrying out
Church-related work and helping the poor.
• Organized Volunteering was started in the 18th Century and mainly to carry out military services
rather than give back to society.
World Soil Day: 5th December
• World Soil Day 2023 is observed on the 5th of December 2023.
• Life begins and ends from the soil.
• It’s the source of food, medicine, and naturally filters water through its layers and making it pure
water to drink.
• Most of us take soil for granted and assume it will always be around. But that’s not the truth.
• It takes 200 to 400 years to form a 1cm layer of soil.
• Making fertile soil takes nearly 3000 years.
 • In 2014, the U.N. General Assembly designated December 5 as the first official World Soil Day at
the 68th UN General Assembly.
International Anti Corruption Day: 9th December
• International Anti Corruption Day 2023 is observed on the 9th of December 2023.
• Corruption has existed from time immemorial.
• Some of the earliest records of Anti Corruption texts can be found in the Code of Hammurabi of
Babylonia, the Great Edict of Horemheb in Egypt, and Arthashastra in India.
• These texts spoke about bribery practices among officers of the state and law.
• The Concept of Public Interest and welfare started to begin in the 19th Century.
Human Rights Day: 10th December
• Human Rights Day 2023 is observed on the 10th of December 2023.
• Human Rights Day's first observation was started in 1948 when the United Nations General
Assembly adopted the Universal Declaration of Human Rights.
• The day was popular to all when the UN issued a Human Rights Stamp which covered and
understood the concept by millions of people.
Nobel Prize Day: 10th December
• Nobel Prize Day 2023 is observed on the 10th of December 2023.
• Alfred Nobel's father was an engineer himself and Alfred Nobel expressed early interest in
engineering, and explosives in particular.
• Nobel became interested in stabilizing the unpredictable explosive nitroglycerin. While
conducting the experiments an unexpected accident took place which cost the life of his brother.
• Alfred Nobel died on 10 December 1896, in Sanremo, Italy, at his very last residence, Villa Nobel,
overlooking the Mediterranean Sea.
International Mountain Day: 11th December
• International Mountain Day 2023 is observed on the 11th of December 2023.
• The United Nations General Assembly declared the International Year of Mountains in 2002.
• The U.N. establishes December 11 as International Mountain Day each year for the protection and
sustainability of mountains.
• Mountain Day is established and celebrated in Japan as a national holiday for people.

UNICEF Foundation: 11th December

• UNICEF Foundation Day 2023 is observed on the 11th of December 2023.
 • UNICEF was created by the U.N. Relief Rehabilitation Administration in 1946 to provide relief
funds for children and mothers affected by World War II with immediate aid.
• In that same year, the U.N. General Assembly founded the United Nations International Children’s
Emergency Fund (UNICEF) to further institutionalize post-war relief work.
• UNICEF relies entirely on contributions from governments and private donors.
• In 2019, UNICEF’s 137 government partners, along with intergovernmental organizations and
inter-organizational arrangements, contributed $4.7 billion.
Universal Health Coverage Day: 12th December
• Universal Health Coverage Day 2023 is observed on the 12th of December 2023.
• The first healthcare system was established by a German named Chancellor Otto von Bismarck in
1883.
• The insurance model, called the ‘Bismarckian system’, required everyone to have insurance for
their medical expenses, which was similar to the current-day non-profit health insurance
companies.
• The World Health Organization is part of the United Nations and is responsible for international
public health.
National Energy Conservation Day: 14th December
• National Energy Conservation Day 2023 is observed on the 14th of December 2023.
• National Energy Conservation Day 2023 was first observed on December 14th, 1991 by the
Bureau of Energy Efficiency BEE, under the Union Ministry of Power which falls under the
government of India.
• The Bureau of Energy Efficiency assists in developing and implementing strategies
and policies to reduce excessive energy consumption.
• The committee also executed ‘The Energy Conservation Act’ in 2001.
• The main objective of the day is to reduce energy use and encourage people to use it efficiently.
About BEE
• The Government of India set up the Bureau of Energy Efficiency (BEE) on March 1, 2002, under
the provisions of the Energy Conservation Act, 2001.
• The mission of the Bureau of Energy Efficiency is to assist in developing policies and strategies
with a thrust on self-regulation and market principles, within the overall framework of the Energy
Conservation Act, 2001 with the primary objective of reducing the energy intensity of the Indian
economy.
Vijay Diwas: 16th December
● Vijay Diwas 2023 is observed on the 16th of December 2023.
● Vijay Diwas is celebrated for the remembrance of the victory of the Indian Armed Forces in
‘Operation: Vijay’ against the infiltrating Pakistani troops.
● Rich tributes are given to the Armed Soldiers who lost their lives in the war.
● Pakistani troops attacked 11 Indian airfields that proved the war on December 3, 1971.
● At that time Indira Gandhi was the Prime Minister of India.
● The war ended in just 13 days which is considered as one of the shortest wars in history.

Minorities Rights Day in India: 18th December

● Minorities Rights Day 2023 is observed on the 18th of December 2023.
● Minorities Rights Day was first observed on December 18th, 1992 by the United Nations.
● The UN adopted the statement on the individual Rights belonging to religious or Linguistic
National or Ethnic Minorities.
● In India, it is the responsibility of the National Commission for Minorities (NCM) to carry out the
events on this day.
● The NCM was established by the Union Government under the National Commission for
Minorities Act, in 1992.

International Migrants Day: 18th December

● International Migrants Day 2023 is observed on the 18th of December 2023.
● Although the day was established in 2000, it has been observed since 1997 that several Asian
migrant organizations designated December 18 as the day to advocate for the respect, rights,
and protection of migrants.
● On account of the ever-increasing number of migrants around the world, on December 4, 2000,
the United Nations General Assembly declared December 18 as the day for International
Migrants

Goa’s Liberation Day: 19th December

● Goa’s Liberation Day 2023 is observed on the 19th of December 2023.
● Goa was still in disrepair after 450 years of Portuguese rule on August 15, 1947, when India
 attained freedom.
● One of the first nations to colonize sections of India was Portugal, which continued to cling onto
Goa and other Indian regions even after India gained her freedom.
● Action Vijay, which translates to "Operation Victory," was a 36-hour military operation that began
on December 18, 1961, and by the combined forces of the Indian Navy, Air Force, and Army.
● 451 years of Portuguese rule in the region officially came to an end and the territory was taken
back by India on December 19, 1961.

International Human Solidarity Day: 20th December

● International Human Solidarity Day 2023 is observed on the 20th of December 2023.
● On December 22, 2005, the UN General Assembly recognized solidarity as one of the
fundamental and enduring values of the twenty-first century by passing Revolution 60/209.
● Through the creation of the World Solidarity Fund to end poverty and the declaration of
International Human Solidarity Day, the idea of solidarity was propagated.

National Mathematics Day: 22nd December

• National Mathematics Day 2023 is observed on the 22nd of December 2023.
• The renowned mathematician Srinivasa Ramanujan, whose works had a widespread impact both in
India and around the world, is the driving force behind the establishment of Mathematics Day in that
country.
• Ramanujan was born in 1887 to an Iyengar Brahmin family in Erode, Tamil Nadu. Despite having
little formal schooling, he mastered trigonometry at the age of 12 and created a number of his own
theorems.
• In 1918, he also became a Fellow of the Royal Society, one of the youngest individuals to hold this
prestigious status.
National Consumer Rights Day: 24th December
● National Consumer Rights Day 2023 is observed on the 24th of December 2023.
● When India's Consumer Protection Act of 1986 was passed, consumer rights were given serious
consideration. .
● On August 6, 2019, India's parliament passed the amended Consumer Protection Bill, taking into
account this dynamic and modern economy.
● The Right to Information Act, which made India's governance procedures open to the public and had
significant ramifications for consumer rights, is a supplement to the Consumer Protection Acts of
1986 and 2019.

Christmas Day: 25th December

• Christmas Day 2023 is observed on the 25th of December 2023.
• The truth is that nobody is certain of the date and location of Jesus' birth.
• Sextus Julius Africanus, the earliest Christian historian, is largely responsible for the creation of
December 25.
• The birth of Jesus would take place exactly nine months later, on December 25.
Good Governance Day: 25th December
• Good Governance Day 2023 is observed on the 25th of December 2023.
• Good Governance Day 2023 is observed for the birth anniversary of Former prime minister Atal
Bihari Vajpayee.
• Atal Bihari Vajpayee, a former prime minister, and Pandit Madan Mohan Malaviya were both named
as recipients of the Bharat Ratna, the country's highest civilian honor, on December 23, 2014.

NATIONAL NEWS
Raksha Mantri Rajnath Singh approves capital acquisition proposals worth Rs 2.23 lakh crore to boost
Indian Defence Industry
• Defence Acquisition Council headed by Raksha Mantri Rajnath Singh approved capital acquisition
proposals worth 2 lakh 23 thousand crore rupees to enhance the operational capabilities of the
Armed Forces.
• Defence Ministry, 98 per cent of the total amount will be sourced from domestic industries.
• This will give a substantial boost to the Indian Defence Industry with the aim of achieving the goal
of Aatmanirbharta.
• The Council has approved the procurement of two types of Anti-tank Munitions namely, Area
Denial Munition (ADM) Type-2 and Type-3, which are capable of neutralising Tanks and Armoured
personnel carriers and enemy personnel.
World's first portable hospital 'Aarogya Maitri Aid Cube' unveiled in Gurugram
• The World's first portable hospital, 'Aarogya Maitri Aid Cube' was unveiled in Gurugram.
 • Designed indigenously under the Project 'BHISHM', the modular trauma management and aid
system is made up of 72 detachable mini-cubes, each being a specialized station for emergency
response and humanitarian efforts.
• It can handle bullet injuries, burns, head, spinal and chest injuries, minor surgeries, fractures and
major bleeding.
• These cubes are light and portable, and can be rapidly deployed anywhere, from airdrops to
ground transportation.
• Air Vice Marshal Tanmay Roy that the mobile hospital is part of India’s message of health for all
and assisting other nations during their times of crises.
PM launches Green Credit Initiative at COP28 climate conference aimed at reshaping global
environmental policies
• Prime Minister Narendra Modi launched the 'Green Credit Initiative,' a pathbreaking program
aimed at reshaping global environmental policies.
• He also launched the official portal of the Green credit initiative at COP28.
• The Prime Minister highlighted the limitations of the current carbon credit system, influenced by
commercial interests and lacking a sense of social responsibility, paving the way for a new
philosophy embodied in the 'Green Credit' concept.
• Ulf Kristersson, Prime Minister of Sweden, praised the initiative, citing Sweden's success with the
Climate Leap, reducing climate emissions by 3.3 million tonnes per year through collective action.
Mines Ministry Launches First Ever Auction of Critical and Strategic Minerals
• Union Coal and Mines Minister Pralhad Joshi launched the first-ever critical minerals auction
process.
• The first tranche e-auction of Critical & Strategic Minerals was launched by Union Minister of
Parliamentary Affairs, Coal and Mines, Shri Pralhad Joshi here on 29th November, 2023.
• A total of 20 critical mineral blocks will be auctioned in the first tranche, out of which 16 mineral
blocks are put up for grant of Composite Licence and four mineral blocks for grant of Mining Lease.
• SBI Capital Markets Limited and MECL are assisting the Ministry of Mines in conducting the
auction process as a Transaction Advisor and Technical Advisor, respectively.

Indian Railways allows MNCs to deploy indigenous Kavach anti train collision system on network
• India's ability to deploy automatic train collision avoidance systems - Kavach - is expected to get a
fillip with global companies getting approvals to install it on the national transporter.
 • Germany's Siemens and Japan's Kyosan are the two new approved Kavach deployment
companies.
• Railways Minister Ashwini Vaishnaw Kavach deployment will increase to 5000 kilometers (kms)
per annum in the financial year 2025-26, up from 1500 kms annually.
About KAVACH
• The KAVACH is an indigenously developed ATP system by Research Design and Standards
Organisation (RDSO) in collaboration with Indian industry.
• KAVACH is meant to provide protection by preventing trains to pass the signal at Danger (Red)
and avoid collision.

Centre launches first-ever auction of critical mineral blocks to boost economy and support its transition
towards clean energy
• Union Minister for Mines Pralhad Joshi has launched the first-ever tranche auction of critical
mineral blocks at a function in New Delhi.
• Twenty blocks of critical and strategic minerals are being auctioned in the first tranche.
• The blocks include Graphite, Lithium, Molybdenum, nickel, Copper and Potash.
• They are located in Odisha, Chhattisgarh, Jammu and Kashmir, Uttar Pradesh, Jharkhand, Bihar,
Tamil Nadu and Gujarat.
• It is a landmark initiative that will boost India's economy, enhance national security and support its
transition to clean energy.

Cabinet approves Terms of Reference for the Sixteenth Finance Commission

• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the Terms of
Reference for the Sixteenth Finance Commission.
• The Terms of Reference for the Sixteenth Finance Commission will be notified in due course of
time.
• The 16th Finance Commission’s recommendations, upon acceptance by the government, would
cover the period of five (5) years commencing April 1, 2026.
• Article 280(1) of the Constitutions lays down that the modalities for setting up of a Finance
Commission to make recommendation on the distribution of net proceeds of taxes between the
Union and the States, allocation between the States of respective shares of such proceeds; grants-
 in-aid and the revenues of the States and measures needed to supplement the resources of the
Panchayats during the award period.
• The Fifteenth Finance Commission was constituted on November 27, 2017.
Centre approves reconstruction plan worth over 1658 crore rupees for Joshimath in Uttarakhand
• Centre has approved the recovery and reconstruction plan of over 1658 crore rupees for
Joshimath which was affected by landslide and ground subsidence early this year.
• A High-Level Committee under the chairmanship of Union Home Minister Amit Shah approved the
plan.
• Under it, around 1080 crore rupees of Central assistance will be provided from the recovery and
reconstruction window of the National Disaster Response Fund.
• The Uttarakhand government will provide over 126 crore rupees from its State Disaster Response
Fund towards relief assistance.
Union Minister for Power RK Singh inaugurates National Conference on "Energy Transition in India in
Gandhinagar
• Union Minister for Power and New and Renewable Energy Shri R.K. Singh inaugurated a two-day
National Conference on “Energy Transition in India - Road Travelled and Opportunities Ahead” in
Gandhinagar.
• Shri Kanubhai Desai, Minister of Energy Petrochemicals and Finance, Government of Gujarat was
also present along with other dignitaries on the occasion.
• Organized as a part of the upcoming Vibrant Gujarat Global Summit 2024, the event is being
attended by more than 250 Indian and foreign representatives of power and renewable energy
sector.
Unemployment rate dips to 6.6 pc in Sep quarter
• According to the Periodic Labour Force Survey (PLFS), the unemployment rate in urban areas has
decreased from 7.2% in July-September, 2022 to 6.6% in July–September 2023.
• The unemployment rate was 6.6% for persons under the age of 15 years.
• For persons aged 15 years and above, the worker-population ratio (WPR) in urban areas has
increased from 44.5% in July-September, 2022 to 46% in July-September, 2023.
• For the male category, it has increased from 68.6% to 69.4% while it has increased from 19.7% to
21.9% for women during this period.

Ministry of Tourism launches National Best Tourism Village and National Best Rural Homestays
Competition 2024
• Ministry of Tourism has launched National Best Tourism Village Competition 2024 and the National
Best Rural Homestay Competition 2024 to strengthen the promotion and development of Rural
Tourism in the country.
• The earlier version of the National Best Tourism Village Competition 2023 recognized 35 villages
all over India in the Gold, Silver, and Bronze categories.
• For the enhancement of Rural Tourism in India the Ministry of Tourism, Government of India
launched the comprehensive National Strategy and Roadmap for the Development of Rural
Tourism in India, along with the National Strategy for the Promotion of Rural Homestays.
India re-elected to International Maritime Organisation with the highest vote tally
• In elections held at its assembly for the 2024–25 biennium, India was re-elected to the International
Maritime Organisation (IMO) Council with the highest tally.
• India's re-election falls under the Category of 10 states with "the largest interest in international
seaborne trade", alongside Australia, Brazil, Canada, France, Germany, the Netherlands, Spain,
Sweden, and the United Arab Emirates (UAE).
• India has been elected in the category of ten countries with the largest interest in international
seaborne trade.
• The term of the Council will be for the biennium 2024-25.
• India’s re-election shows the government’s commitment to enhance India's diverse
About IMO
• IMO is a specialised agency of the United Nations responsible for regulating shipping.
• It was established following agreement at a UN conference held in Geneva in 1948 and came into
existence 10 years later, meeting for the first time in 1958.
• Headquartered in London, United Kingdom, IMO currently has 175 Member States and three
Associate Members.
• India joined the IMO in 1959 and the IMO currently lists India as among the 10 states with the
largest interest in international seaborne trade.
India joins Executive Committee of Codex Alimentarius Commission
• India has been unanimously elected as a member representing Asian region in the Executive
Committee of Codex Alimentarius Commission (CAC)
• during its 46th meeting being held at FAO Headquarters at Rome.
 • Codex Alimentarius Commission (CAC), is the food safety and quality standard-setting body
created by the UN.
• executive Committee is an important arm of the CAC and the member countries have a
considerable interest in getting its membership.
India will be the largest cotton producer
• According to the Union Minister for Textiles Commerce and Industry, India will strive to become the
largest cotton producer globally.
• He was inaugurating an annual global meeting - the 81st plenary session of the International
Cotton Advisory Committee (ICAC) - a UN recognised body of cotton producing and consuming
nations.
• Cotton is one of the most important commercial crops cultivated in India and accounts for around
25% of the total global cotton production.
• India has the largest area under cotton cultivation and is the second largest producer (after China).
'India Internet Governance Forum 2023' to discuss public policy issues related to Internet in New Delhi
• 'India Internet Governance Forum 2023' will be held in New Delhi.
• The forum is a multi-stakeholder platform bringing together representatives from various groups to
discuss public policy issues related to the Internet.
• The theme of the event is Moving Forward - Calibrating Bharat’s Digital Agenda.
• Electronic and IT Ministry stated, the event is an effort to discuss issues such as building a secure,
trusted and resilient cyberspace for Bharat, Enabling Innovation for India’s Developmental Goals,
Bridging Divides and Calibrating Bharat’s Digital Agenda.
• The India Internet Governance Forum is an initiative associated with the UN Internet Governance
Forum.
South Central Railway commissions electrification of 64 Km line between Devarkadra-Krishna in
ongoing Munirabad-Mahabubnagar new railway line project
• South Central Railway has completed electrification of the existing rail network in Telangana region
except for the newly laid rail lines.
• In the next step, as part of electrification of newly constructed lines, 64 route Kms between
Devarkadra – Krishna has been electrified on mission mode.
• The New Broad Gauge line between Krishna – Devarkadra has been completed and recently
commissioned as part of Mahabubnagar – Munirabad new line project.
 • The DEMU passenger train services were also commissioned in this new section recently in
October, 2023.

Indian Navy ranks to be renamed as per Indian culture: PM Modi during Navy Day celebrations
• While congratulating the Indian Navy for appointing India's first woman commanding officer of the
naval ship, Prime Minister Narendra Modi pushed for a culture rejig in the ranks of Indian Navy.
• PM Modi announced that the ranks of the Navy personnel and officers will be renamed as per the
Indian culture.
• During his Navy Day address, PM Modi revealed the plans of the Indian government, which is
working to increase women's power in our defence forces.
• PM Modi mentioned the role played by great Indian legend Chhatrapati Shivaji Maharaj and
emphasized the importance of naval power.
• The Indian Navy observes Navy Day on 4 December in remembrance of the daring "Operation
Trident," a significant naval assault on Karachi harbour carried out during the 1971 War.
India emerges as a major contributor to the organic and natural products market globally
• India has emerged as a major contributor to the organic and natural products market globally and
its share in the market was 17 thousand 8 hundred 53 crore Rupees in the last three years.
• In a written reply in Lok Sabha, Union Minister for Agriculture and Farmer Welfare Narendra Singh
Tomar stated that as per the report of the World of Organic Agriculture Statistics and Emerging
Trends 2023, the demand for organic products has increased throughout the world from 21 Billion
US Dollars in 2001 to 135.50 Billion US Dollars in 2021.
• The major organic products exported from the country during the last three years include Cereals,
millet, Processed Food, Tea, Spices, Condiments, Dry Fruits, Sugar, Medicinal plant products,
Pulses, Coffee, Oil seeds.

Ministry of railways launched Amrit Bharat Station scheme for the development of stations
• The Ministry of Railways has launched the Amrit Bharat Station Scheme for the development of
stations on Indian Railways.
• So far, 1309 Stations as appended have been identified for development under this scheme.
• Modernisation/upgradation of railway stations is a continuous and ongoing process.
• The Ministry of Railways also envisages exploration of various models for the development and/or
maintenance of railway stations including Engineering, Procurement and Construction (EPC), non-
 EPC modes etc. and a minuscule number of stations under Public Private Partnership (PPP)
mode.
India to host four-day 27th WAIPA World Investment Conference in New Delhi
• India will host four-day 27th WAIPA World Investment Conference in New Delhi.
• National Investment Promotion and Facilitation Agency of the Government of India, and World
Association of Investment Promotion Agencies are organizing the conference at the India
International Convention & Expo Centre - Yashobhoomi, New Delhi.
• Under the aegis of the Department for Promotion of Industry and Internal Trade, it will be the
largest World Investment Conference ever.
Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and
Textiles, Piyush Goyal will deliver the keynote address on the Role of Trade and Investment in the
Decade of Action.
India to spend 57 lakh crore rupees on adaptation to climate change over next 7 years
• India spent about Rs 13.35 lakh crore in 2021-22, just over 5.5% of its GDP, on climate adaptation
and expects to incur another about Rs 57 lakh crore over the next seven years for this purpose.
• But this is only in the business-as-usual scenario, that is only if climate vulnerability does not
deteriorate during this period.
• Climate-induced damage could escalate this amount by another Rs 15.5 lakh crore.
• The Central government informed the UN Framework for Climate Change Convention (UNFCCC),
recently.
• The UNFCCC secretariat (UN Climate Change) is the United Nations entity tasked with supporting
the global response to the threat of climate change.
PM Formalization of Micro Food Processing Enterprises Scheme
• PM Formalisation of Micro food processing Enterprises (PMFME) Scheme is a centrally sponsored
scheme launched in 2020.
• The scheme is operational for a period of five years from 2020-21 to 2024-25 with an outlay of Rs.
10,000 Crore for supporting 2 lakh micro food processing enterprises.
• Funding: 90:10 ratios with Northeastern and Himalayan States.
• 60:40 ratios with UTs with legislature, and 100% by Centre for other UTs.
• 60:40 ratios between Central and State Governments for other states.
Jammu Student-Led National Movement for Energy Conservation named 4E Wave Launched
 • 4E Wave has been launched by Union Minister for Power and New & Renewable Energy Shri R.
K. Singh.
• It is a student-led National Movement for Energy Conservation.
• It was launched in the presence of Lieutenant Governor of Jammu & Kashmir Shri Manoj Sinha.
• The movement aims to raise awareness of energy conservation among communities and
individuals, as well as to encourage sustainable activities.
• 4E Wave comprises four essential components.
NMCG Launches Global River Cities Alliance at the United Nations Climate Change Conference in
Dubai
• The Global River Cities Alliance (GRCA) was launched at COP28, the United Nations Climate
Change Conference in Dubai, UAE.
• The National Mission for Clean Ganga (NMCG) led the alliance under the
Ministry of Jal Shakti, Government of India.
• The alliance includes countries such as Egypt, Netherlands, Denmark, Ghana, Australia, Bhutan,
Cambodia, Japan, and river-cities of The Hague (Den Haag) from the Netherlands, Adelaide from
Australia, and Szolnok of Hungary.
• International funding agencies like the World Bank, Asian Development Bank (ADB), Asian
Infrastructure Investment Bank (AIIB), and knowledge management institutions like KPMG have
entered into a partnership to expand the reach of the existing River Cities Alliance (RCA), which
was formed by NMCG in association with the National Institute of Urban Affairs (NIUA) in 2021.
India Joins Consortium to Advance Deployment Of Battery Energy Storage Systems
• India became a member of the Battery Energy Storage Systems (BESS) Consortium, an initiative
led by The Global Leadership Council (GLC) of the Global Energy Alliance for People and Planet
(GEAPP).
• As a part of this collaborative effort, India stands among the pioneering nations committed to
securing 5 Gw of BESS commitments by the conclusion of 2024.
• In September, the government endorsed viability gap funding for BESS development.
• The scheme aims to facilitate establishing 4,000 Mwh of BESS projects by 2030-31, providing
financial assistance of up to 40 per cent of the capital cost through budgetary support in the form of
VGF.
517 UDAN Routes Operate Across 76 Airports; INR 1000 Cr Allocated for Further Development
 • Under the government’s flagship regional connectivity scheme UDAN (Ude Desh Ka Aam Nagrik),
517 RCS routes have so far commenced operations connecting 76 airports, including nine
Heliports & two water aerodromes.
• The UDAN scheme aims at fostering regional air connectivity at affordable rates and has been
designed to facilitate air operations on underserved and unserved routes.
• Airlines participating in the UDAN scheme are required to allocate a specified number of seats as
RCS seats, varying based on the type and size of the aircraft deployed for RCS flights.
• Selected Airline Operators also receive financial support in the form of Viability Gap Funding
(VGF).
India's emission intensity reduced by 33% between 2005 and 2019
• According to a government report, India reduced its GDP emission intensity by 33 per cent
between 2005 and 2019, achieving the target 11 years in advance,
• India's GDP grew at a cumulative annual growth rate of 7 per cent but its emissions rose by only 4
per cent per year during this period, suggesting that the country has been successful in decoupling
its economic growth from planet-warming greenhouse gas emissions.
• The report called 'The Third National Communication to the United Nations Framework Convention
on Climate Change' will be submitted to the UN climate change body during the ongoing climate
talks in Dubai.

IRCON International shares tank over 8% as govt launches OFS to sell up to 8% stake
• The Union government has proposed to sell 8% stake in IRCON International through an offer for
sale (OFS).
• The government will offload about 3.76 crore shares, which represents a 4% stake through the
OFS, and in the case of oversubscription, an additional 4% stake will be under sale.
• The offer for sale will take place on December 8 through a separate window on the stock
exchanges.
• As of September-end, the government holds 73.18% stake in the company.
About IRCON
• IRCON International Limited is a Central public sector enterprise under the Railway Ministry.
• It was set up to utilise the Indian Railway’s experience in helping developing nations of the world to
install or maintain their own railways and also to execute railway projects for the private sector.
Union Minister Nirmala Sitharaman inaugurates ‘Krishnaveni Sangeetha Neerajanam’ in Vijayawada
 • Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman inaugurated
Krishnaveni Sangeetha Neerajanam, at Tummalapalli
-Kalakshetram, Vijayawada in the presence of Smt R K Roja, Minister for Tourism, Government of
Andhra Pradesh, Shri Buggana Rajendranath, Minister for Finance, Government of Andhra
PradeshSmt V Vidyavathi, Secretary, Ministry of Tourism, Government of India.
• Secretary, Ministry of Tourism, Government of India in her welcome address remarked that the
event endeavours to commemorate the contributions of the Telugu language in promoting classical
music and emphasized that the festival aims to establish a cultural identity for the region by
showcasing the local traditions and promoting local artisans, crafts and cuisine.
India to host 27th WAIPA World Investment Conference in New Delhi
• Invest India, the National Investment Promotion and Facilitation Agency of the Government of
India, and the current President of the World Association of Investment Promotion Agencies
(WAIPA), under the aegis of the Department for Promotion of Industry and Internal Trade (DPIIT),
is set to host the 27th World Investment Conference (WIC) from December, at the India
International Convention & Expo Centre - Yashobhoomi, New Delhi.
• This year’s conference is themed "Empowering Investors: IPAs Pioneering Future Growth".
• Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and
Textiles, Shri Piyush Goyal on the main day of the conference, will deliver the keynote address on
the Role of Trade and Investment in the Decade of Action.
About WAIPA
• The World Association of Investment Promotion Agencies was created in 1995 in Geneva, as a
non-governmental organization. Its mission is to empower and support investment promotion
agencies in the important work they do to develop their economies; to be a voice for IPAs
internationally; and to serve as a bridge between the public and private sectors. The association
has more than 120 member agencies representing more than 100 countries.
DARPG launches Scheme and Web-portal for National Awards for e-Governance 2024
• The Web portal (http://www.nceg.gov.in) for National Awards for e-Governance (NAeG) 2024 was
launched.
• The formal launching was organised by the Department of Administrative Reforms & Public
Grievances (DARPG).
 • The Central Ministries / Departments as well as the Principal Secretaries (AR) and (IT) and the
DCs/DMs of all the 28 States and 8 UTs of India as well as Award Winners of NAeG 2023 were
invited for the launch ceremony in hybrid mode.
• The web portal for National Awards for e-Governance 2024 has been made live on 8th December,
2023.
• The advertisement in this regard has also appeared in newspapers on 2nd December, 2023 and
the last date for submission of nominations is 29th December, 2023.
• The portal, namely, www.nceg.gov.in for due registration and the submission of applications for
the NAeG, 2024 will also be operational from 8th December 2023 to 29th December, 2023.
Ministry of Textiles to host ‘One Bharat Sari Walkathon’ in Mumbai
• The Ministry of Textiles will organize the country's largest ever ‘One Bharat Sari Walkathon’ in
India's financial capital, Mumbai.
• The event aims to promote the handloom sari culture in India by inviting participation of women
across the country to showcase their ways of wearing saris and thus present India as a country of
“Unity in Diversity”.
• It will also promote the spirit of traditional textile & support the idea of “Vocal for Local” and will
raise awareness about fitness among women and to encourage them lead healthier lives.
• Previously, the Sari Walkathon was organized in Surat.
PM inaugurates ‘Uttarakhand Global Investors Summit 2023’
• The Prime Minister, Shri Narendra Modi inaugurated ‘Uttarakhand Global Investors Summit 2023’
being held at Forest Research Institute, Dehradun, Uttarakhand.
• Shri Modi also took a walkthrough of the exhibition and unveiled the Ground Breaking Wall.
• Prime Minister Modi also launched a book Sashakt Uttarakhand and the brand House of
Himalayas.
• The theme of the Summit is ‘Peace to Prosperity’.
• Industry leaders also expressed their views on the occasion.
Raksha Mantri Shri Rajnath Singh inaugurates 10-feet tall statue of Mahatma Gandhi, Delhi
• Raksha Mantri Shri Rajnath Singh inaugurated a 10-feet tall statue of Mahatma Gandhi at Gandhi
Darshan near Rajghat, Delhi. Raksha Mantri described the statue as a befitting tribute to the
Father of the Nation, who played a central role in freeing India from foreign rule and worked for the
upliftment of the weaker sections of society to lead a dignified life.
 • Shri Rajnath Singh emphasised that the Government’s focus has always been on planned
progress, which has resulted in India becoming the 5th largest economy in the world.
IREDA Launches Retail Division: Targets PM-KUSUM, Rooftop Solar and other B2C Segments
• Indian Renewable Energy Development Agency Limited (IREDA) has launched its retail division,
geared towards enhancing emphasis on providing loans to borrowers in the PM-KUSUM scheme,
Rooftop Solar, and other Business-to-Consumer (B2C) sectors.
• The strategic division became operational on 5th December, 2023.
• This announcement has been made by Chairman & Managing Director of IREDA Shri
Pradip Kumar Das during the Leaders’ Dialogue on "Actioning Solutions for Global Sustainable
Development and Governance of Resources" organized by CEEW & CII as part of COP28 in
Dubai on 7th December 2023.
About IREDA
• Indian Renewable Energy Development Agency Limited is formed in 1987 as a Mini Ratna
Government of India Enterprise under Government of India and administratively controlled by the
Ministry of New and Renewable Energy.
“HaritSagar” Green Port Guidelines to reduce carbon intensity and to develop an environment-friendly
ecosystem at all Major Ports
• The Ministry of Ports, Shipping and Waterways, Shri Sarbananda Sonowal has launched
“HaritSagar” Green Port Guidelines to reduce carbon intensity and to develop an environment-
friendly ecosystem at all Major Ports.
• Under these guidelines, various green interventions such as ship-to-shore power supply,
electrification of Port equipment, usage of alternate fuels such as green Hydrogen/Green
Ammonia/Methanol in port crafts, creation of infrastructure at select Ports for storage, bunkering,
and refuelling of Green hydrogen/Green Ammonia, increase share of Renewable Energy etc. have
been provided.
• Deendayal Port, Visakhapatnam Port and New Mangalore Port are generating surplus renewable
energy.
• The management and notification of berth/jetty in Major Ports for chemicals and dangerous
materials are being carried out as per the Port Regulation framed in the ambit of the Explosive Act,
1884.
Ministry of Tourism kicks off Amrit Dharohar Capacity Building Scheme 2023 in collaboration with
Ministry of Environment, Forest & Climate Change
 • The Ministry of Tourism (MoT) in collaboration with Ministry of Environment, Forest & Climate
Change (MoEFCC) launched an Alternative Livelihood Programme under the Amrit Dharohar
Capacity Building Scheme in Sultanpur National Park, a Ramsar Site in Haryana.
• Under this initiative, IITTM, an autonomous body under MoT, in collaboration with MoEFCC will
build the capacity of local community members around different Ramsar sites in order to
strengthen nature tourism at these sites and provide alternative livelihood to the local community.
• Sultanpur is one of the five priority Ramsar Sites besides Bhitarkanika and Chilika in Odisha and
Yashwant Sagar and Sirpur in Madhya Pradesh identified in first phase by MoT and MoEFCC for
taking up training programmes for local communities under the Alternative Livelihood Programme
(ALP).
Youth for Unnati and Vikas with AI (YUVAi) to feature in GPAI Summit 2023
• Youth for Unnati and Vikas with AI’ (YUVAI) is set to be prominently featured at the upcoming
Global Partnership on Artificial Intelligence (GPAI) Summit.
• ‘Youth for Growth and Vikas with AI’ is a collaboration-based initiative of the National e-
Governance Division (NeGD), Ministry of Electronics and Information Technology, Government of
India, and Intel India.
• The GPAI summit is beginning on 12 December in New Delhi.
• This program is designed to equip youth with essential AI skills.
• The program is drawing attention to its innovative approach and commitment aimed at
enabling a future-ready workforce.
• Youth for Unnati and Vikas with AI aims to promote a deeper understanding of AI.
Union Minister Shri Arjun Munda inaugurates ASEAN-India Millet Festival today at New Delhi
● Union Minister of Agriculture and Farmers’ Welfare and Tribal Affairs Shri Arjun Munda inaugurated
ASEAN-India Millet Festival today at New Delhi.
● Ministers of States for Agriculture and Farmers’ Welfare Shri Kailash Choudhary and Sushri Shobha
Karandlaje and Secretary, Department of Agriculture and Farmers’ Welfare, Shri Manoj Ahuja were
also present on the occasion.
● In line with the International Year of Millets, the festival aims to increase awareness and establish a
larger market for millet and millet-based products.
● The festival will conclude on 15th December 2023.
● The event followed a preceding festival held in Jakarta, Indonesia from 22-26 November 2023.
● On day two of the festival, a Business-to-Business (B2B) meeting is organized by APEDA.
● Under the visionary leadership of Prime Minister Shri Narendra Modi, the Government of India has
played an important role in organizing the mega event of International Millets Year 2023.
Union Health Minister Dr Mansukh Mandaviya inaugurates new State-of-the-Art facilities at ICMR-NIMR
● Dr. Mansukh Mandaviya, Union Minister of Health and Family Welfare while inaugurating five new
facilities at the Indian Council of Medical Research - National Institute of Malaria Research (ICMR-
NIMR).
● The facilities included a Test Research Laboratory, an Innovation Complex, a Conference Hall
Complex and a 300-seat Auditorium.
● He was joined by Prof. S.P. Singh Baghel and Dr. Bharati Pravin Pawar, Union Ministers of State for
Health and Family Welfare.
● The Union Health Minister highlighted the century-long journey of ICMR and its role in shaping
India's medical research landscape.
● Strengthening the institute’s infrastructure is a step towards moving to malaria elimination in the
country by 2030.
Indian Forest & Wood Certification Scheme launched to promote Sustainable Management of forests
and agroforestry
● The Ministry of Environment, Forests and Climate Change has launched the Indian Forest & Wood
Certification Scheme.
● This national forest certification scheme offers voluntary third-party certification designed to promote
sustainable forest management and agroforestry in the country.
● The scheme includes forest management certification, tree outside forest management certification,
and chain of custody certification.
● The Forest Management certification is based on the Indian Forest Management Standard,
consisting of 8 criteria, 69 indicators and 254 verifiers, which is an integral part of the National
Working Plan Code 2023, launched earlier this year.
● Indian Institute of Forest Management, Bhopal will act as the scheme operating agency and will be
responsible for the overall management of the scheme.
Rajya Sabha Passes Bill On Appointment Of Chief Election Commissioner and Election Commissioners
● The Rajya Sabha has passed a Bill to regulate the appointment of the Election Commission of India.
● The bill retained the status of the CEC and two ECs on par with judges of the Supreme Court.
● The earlier Bill sought to downgrade their service conditions, aligning them with those of a Cabinet
Secretary.
● The Election Commission is a permanent and independent body by Article 324 of the Constitution of
India.
● The Chief Election Commissioner and other Election Commissioners (Appointment, Conditions of
Service and Term of Office) Bill, 2023, was passed in the Upper House of Parliament with a voice
vote.
● The bill seeks to replace the Chief Justice of India with a Cabinet Minister nominated by the Prime
Minister in the committee for selection of the CECs and ECs.
● First, a Search Committee, headed by the Law Minister, would propose a panel of names to the
selection committee.
● The Selection committee will be chaired by the PM and will include the Leader of the Opposition or
leader of the single largest Opposition party in Lok Sabha and a Cabinet Minister nominated by the
Prime Minister.
● The terms of the CEC and ECs remain unchanged, at six years or until they reach the age of 65
years, whichever is earlier.
India’s first Six Lane Steel Slag based Road Connecting NH-6 to Hazira Port has been constructed
● India’s first Six six-lane steel slag-based Road Connecting NH-6 to Hazira Port has been
constructed.
● Steel Slag is produced as a solid waste during steel production.
● Around 180 - 200 kg of steel slag is generated per tonne of steel production.
● The Ministry of Steel has funded a R&D project on “Development of Design Guidelines and
Specifications for utilization of Steel Slag in road construction”.
The 29th Kolkata International Film Festival: Israeli film 'Children of Nobody' won the Best film award
● The 29th Kolkata International Film Festival ended.
● Israeli film 'Children of Nobody' won the Best Film Award under International Competition in
Innovation Moving Images.
● It is directed by Erez Tadmor.
● Director duo Sharmistha Maity and Rajdeep Paul's 'Mon Potongo' won the award for the best film
under the Bengali Panorama category.
● In addition to these, Hiralal Memorial Trophy, and Netpack Award were also given.
● 29th Kolkata International Film Festival was organized by the Information and Cultural Affairs
Department, Government of West Bengal.
● It was held from 5 - 12 December 2023 in Kolkata.
Cabinet approves Memorandum of Understanding (MoU) signed between India and Tanzania on
Cooperation in the field of sharing successful Digital Solutions implemented at Population Scale for
Digital Transformations:
● The Union Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi was apprised of a MoU
signed between the Ministry of Electronics and Information Technology of the Republic of India
and the Ministry of Information, Communication and Information Technology of the United
Republic of Tanzania on cooperation in the field of sharing successful Digital Solutions
implemented at Population Scale for Digital Transformation.
● The MoU intends to promote closer cooperation and exchange of experiences, digital
technologies-based solutions in the implementation of digital transformational initiatives of both
the countries.
● Both G2G and B2B bilateral Cooperation in the field of Digital Public Infrastructure (DPI) will be
enhanced.
● The activities contemplated in this MoU would be financed through their administration's regular
operating allocations.
Union Cabinet approves the memorandum of understanding between the United States of America and
the Republic of India
● The Union Cabinet chaired by Hon’ble Prime Minister, Shri Narendra Modi, approved the draft
Memorandum of Understanding (MoU) between the United States of America and the Republic of
India to enhance innovation ecosystems through an innovation handshake.
● The 5th India-U.S. Commercial Dialogue was held on 10th March 2023 during the visit of U.S.
Secretary of Commerce Gina Raimondo between 8-10 March.
● At the meeting the Commercial Dialogue was re-launched with strategic focus on supply chain
resiliency, climate and clean technology cooperation, advancing inclusive digital economy, and
facilitating post-pandemic economic recovery especially for SMEs and start-ups.
● The Joint Statement released by President Biden and Prime Minister Modi in June 2023 welcomed
focused efforts to establish an “Innovation Handshake” that shall connect the two sides’ dynamic
startup ecosystems, address specific regulatory hurdles to cooperation, and promote innovation and
job growth, particularly in critical and emerging technologies (CET).
● The scope of cooperation would include a series of India- U.S. Innovation Handshake events, round
tables with private sector, including hackathon and “Open Innovation” programs, information sharing
and other activities.
Cabinet approves Memorandum of Cooperation signed between India and Kingdom of Saudi Arabia on
cooperation in the field of Digitization and Electronic Manufacturing
● The Cabinet chaired by Hon’ble Prime Minister Shri Narendra Modi was apprised of a Memorandum
of Cooperation (MoC) signed between the Ministry of Electronics and Information Technology of the
Republic of India and the Ministry of Communications and information Technology of the kingdom of
Saudi Arabia on cooperation in the field of Digitization and Electronic Manufacturing.
● The Memorandum of Cooperation intends to strengthen collaboration in the field of Digitization,
Electronic Manufacturing, e-Governance, smart infrastructure, e-Health and e-Education, promote
partnership in research in digital innovation and the use of emerging technologies such as Artificial
Intelligence (AI), Internet of Things (IoT), Robots, Cloud Computing and Blockchain, etc.
● The MoC aims to promote ways of innovative training and development through e-teaching, e-
learning and exchange programs in digitization and electronics manufacturing.
Cabinet approves Memorandum of Understanding between India and Italy on Cooperation in the field of
Industrial Property Rights
● The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, has given its approval for
signing of Memorandum of Understanding between the Department for Promotion of Industry and
Internal Trade, Ministry of Commerce & Industry of the Republic of India and the Directorate General
for the Protection of Industrial Property-Italian Patent and Trademark Office of the Ministry of
Enterprises and Made in Italy of the Italian Republic on Cooperation in the field of Industrial Property
Rights.
Cabinet approves declaration of Surat Airport as an International Airport
● The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the proposal to
declare Surat Airport as an International Airport.
● Surat Airport will not only become a gateway for international travellers but also facilitates seamless
export-import operations for the thriving diamond and textile - industries.
● Elevating Surat Airport to international status is paramount for enhancing economic growth,
attracting foreign investment, and bolstering diplomatic ties.
Prime Minister Shri Narendra Modi to inaugurate Kashi Tamil Sangamam 2023
● The second phase of Kashi Tamil Sangamam will be inaugurated by Prime Minister Shri Narendra
Modi at the Namo Ghat, Varanasi, UP
● The first batch of Tamil delegation comprising a group of students from various parts of Tamil Nadu
named after the sacred river ‘Ganga’ reached the holy city of Kashi (Varanasi) to attend the 15-day-
 long second phase of Kashi Tamil Sangamam.
● They were received with a grand welcome upon arrival at the Varanasi Cantt. Railway Station.
● During their stay, they will also visit Prayagraj and Ayodhya.
● Six more groups comprising Teachers (Yamuna), Professionals (Godavari), Spiritual (Saraswati),
Farmers and Artisans (Narmada), Writers (Sindhu) and Traders and Businessmen (Kaveri) will be
reaching Kashi to participate in the Sangamam during the event.
Unnati Foundation : First Entity To List On The Social Stock Exchanges
● Unnati Foundation became the first entity to list on the social stock exchanges (SSE).
● SUF is a not-for-profit organisation (NPO) incorporated in 2011 that has trained over 45,000 youth.
● The entity had raised ₹1.8 crore from Zerodha, Nabard, Govind Iyer, and Ashish Kacholia during its
fundraising period between October 30 and November 22.
● On listing, the Zero Coupon Zero Principal (ZCZP) instruments with a face value of ₹1 each will get
credited into the demat accounts of the respective donors.
● The SEBI board recently approved halving the minimum size of ZCZPs by NPOs on SSEs to Rs 50
lakh from Rs 1 crore.
● The minimum application size will be reduced to ₹10,000 from ₹2 lakh to enable wider participation.
Prime Minister Narendra Modi inaugurates Diamond Bourse & New Integrated Terminal Building of
Surat Airport
● In Gujarat, Prime Minister Narendra Modi has dedicated the newly Built Diamond Bourse, the
World’s largest corporate office hub in Surat.
● It will emerge as a global centre for trading rough and polished diamonds and jewellery.
● The newly built Diamond Bourse will be the World’s largest and most modern centre for international
diamond and jewellery business.
● Earlier, Prime Minister inaugurated the New Integrated Terminal Building of Surat Airport.
● The new terminal building is equipped to handle 1,200 domestic passengers and 600 international
passengers during peak hours with annual handling capacity increasing to 55 lakh passengers.
● Prime Minister Narendra Modi will also inaugurate the second edition of Kashi Tamil Sangamam
2023 at Namo Ghat in Varanasi.
● He will be on a two-day visit to his parliamentary constituency.
Amrit Technology For Removal Of Arsenic And Metal Ions From Water
● IIT Madras developed ‘AMRIT’ for removing Arsenic and Metal ions from water.
● ‘AMRIT’ (Arsenic and Metal Removal by Indian Technology) uses nano-scale iron oxy-hydroxide. It
 removes arsenic when water is passed through it.
● This water purifier technology has been developed for both domestic as well as community levels.
● This technology has been recommended by the ‘Standing Committee’ of the Department of Drinking
Water and Sanitation for the examination of the best technologies related to water and sanitation.
● Government launched the Jal Jeevan Mission (JJM) for the planning, approval, implementation,
operation, and maintenance of drinking water supply schemes.
The Barracuda: India’s fastest solar-electric boat sets sail for sustainable future
● In a move towards eco-friendly maritime transportation, the Barracuda, India’s fastest solar-electric
boat, was ceremoniously launched at the Navgathi Panavally Yard in Alappuzha.
● This cutting-edge vessel was jointly developed by Mazagon Dock Shipbuilders and Navalt.
● The Barracuda, named after the swift long fish, is designed by the Navy for workboat purposes.
● With a top speed of 12 knots and a range of 7 hours on a single charge, the 14-metre long and 4.4-
metre wide vessel harnesses twin 50 kW electric motors, a marine-grade LFP battery, and 6 kW
solar power.
CCI approves scheme of arrangement involving Dhani Services Limited, Indiabulls Enterprises Limited,
Savren Medicare Limited
● The Competition Commission of India (CCI) has approved the scheme of arrangement involving
Dhani Services Limited, Indiabulls Enterprises Limited, Savren Medicare Limited, Auxesia Soft
Solutions Limited, Gyansagar Buildtech Limited, Pushpanjli Finsolutions Limited, Devata Tradelink
Limited, Evinos Developers Limited, Milky Way Buildcon Limited, Indiabulls Consumer Products
Limited, Indiabulls Infra Resources Limited, Jwala Technology Systems Private Limited, Mabon
Properties Limited, YDI Consumer India Limited, Indiabulls General Insurance Limited, Indiabulls
Life Insurance Company Limited, Juventus Estate Limited, India Land Hotels Mumbai Private
Limited, Indiabulls Pharmcare Limited, and Yaari Digital Integrated Services Limited.
NTPC Group achieves its fastest-ever 300 Billion Units Electricity Generation
● NTPC Group has achieved the fastest ever 300 Billion Units (BU) electricity generation.
● This milestone was achieved in just 262 days in FY 2023-24, which is 18 days early compared to the
last financial year.
● In FY 2022-23, the company had crossed 300 BU generation on 5th January 2023.
● On a standalone basis, 256 BU generation has been recorded from NTPC stations in FY 2023-24.
● This accomplishment reinforces NTPC's commitment to delivering reliable and affordable power to
the Nation.
● While NTPC has an installed capacity of approximately 74 GW, over 18 GW capacity including 5
GW Renewables is under construction.
● The company is committed to achieve 60 GW of Renewable Energy capacity by the year 2032.
About NTPC :
● NTPC Ltd. is India's largest integrated power utility, contributing 1/4th of the power requirement of
the country. With a diverse portfolio of thermal, hydro, solar, and wind power plants, NTPC is
dedicated to delivering reliable, affordable, and sustainable electricity to the Nation.
● The company is committed to adopting best practices, fostering innovation, and embracing clean
energy technologies for a greener future.
CCI approves certain business undertakings of Ind Swift Laboratories Limited and Essix Biosciences
Limited by Synthimed Labs Private Limited
● The Competition Commission of India (CCI) has approved the proposed acquisition of certain
business undertakings of Ind Swift Laboratories Limited and Essix Biosciences Limited by
Synthimed Labs Private Limited.
● The Proposed Combination involves slump sale of certain business undertakings (on a going
concern basis) of Ind Swift Laboratories Limited (ISLL) and Essix Biosciences Limited (Essix)
(collectively, “Target Business”) to Synthimed Labs Private Limited (Synthimed).
● Subsequently, ISLL will acquire a minority shareholding in the Acquirer.
Pradhan Mantri Bhartiya Janaushadhi Pariyojana achieved their target of Rs. 1000 Crore in sales in FY
2023-24
● Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) has created another landmark in the
history of generic medicines in the country by selling medicines worth Rs. 1000 Crore this year.
● This achievement was made possible only by the people of the country, who have saved
approximately 5000 crores by purchasing medicines from Jan Aushadhi Kendras which is present in
more than 785 districts of the country.
● Hon’ble Prime Minister in his Independence Day speech, 2023 has announced the opening of
25,000 Pradhan Mantri Bhartiya Janaushadhi Kendras (PMBJKs) across the country.
● The Prime Minister virtually launched the 10,000th Janaushadhi Kendra at AIIMS, Deoghar,
Jharkhand on 30th November, 2023 and further paved the way for expanding the number of Kendras
to 25,000 for wider outreach and easy accessibility of medicines to the people of the country.
● Accordingly, the Government has set a target to open 25,000 Janaushadhi Kendras across the
country by March, 2026.
● Online applications have been called for opening of new Janaushadhi Kendras across all districts of
the nation through the official website of PMBI, i.e.; - www.janaushadhi.gov.in and for any further
communication, anyone may contact through the national toll-free number i.e.; 1800 180 8080.
Honourable Union Minister Kiren Rijiju launches India’s maiden winter scientific Arctic expedition
● Union Minister Kiren Rijiju flagged off India's first-ever winter science expedition to the Arctic region.
● India's first-ever winter science expedition to the Arctic region has been flagged off by the Earth
Sciences Minister Kiren Rijiju.
● Indian scientific expeditions to the Arctic during the winter (November to March) will allow
researchers to conduct unique scientific observations during polar nights, where there is no sunlight
for nearly 24 hours and sub-zero temperatures (as low as -15 degrees Celsius).
● A team of four scientists started the journey to India's research station in the NyAlesund town on the
Brogger peninsula.
● Athulya R, Girish B S, Prashant Rawat, and Surendra Singh are the members of this team.
● The first batch of the maiden Arctic winter expedition comprises researchers from the host NCPOR,
Indian Institute of Technology (IIT) Mandi; Indian Institute of Tropical Meteorology (IITM), Pune; and
Raman Research Institute, Bengaluru.

India’s coal demand to grow at 3.5% annually till 2026: IEA

• India’s coal demand is expected to increase by 3.5% annually till 2026, according to the International
Energy Agency (IEA).
• In its latest coal report, IEA estimates India’s coal demand to rise to 1,397 million tonnes (mt).
• Coal demand in India accounted for 14% of the global demand.
• It is expected that the demand have increased by 8% or 98 mt in 2023.
• IEA forecasts 2.4% annual growth in coal consumption for power generation for the next three years.
• IEA said renewable energy generation is forecast to grow by 12% annually.
• IEA estimates a moderate increase in coal for power generation of 69 mt to 2026.
• IEA estimates non-power thermal coal and lignite consumption to have increased by 12 mt in 2023,
to 243 mt.
• India is the world’s second largest consumer of the coal.
Union Home Minister Amit Shah introduces redrafted criminal Bills in Lok Sabha
• Union Home Minister Amit Shah introduced redrafted criminal Bills.
• Union Home Minister Amit Shah presented three redrafted Bills in the Lok Sabha to replace the
existing British-era criminal laws.
• The new bills incorporate the changes recommended by a parliamentary committee.
• The Bharatiya Nyaya (Second) Sanhita Bill (BNSS), 2023 will take the place of the Indian Penal
Code of 1860.
• The “economic security” and “damage or destruction of any property in India or in a foreign country
used or intended to be used for the defense of India” have been included in the definition of terrorist.
• The Bharatiya Sakshya (Second) Bill, 2023 and the Bharatiya Nagarik Suraksha (Second) Sanhita
Bill, 2023 will also replace the Indian Evidence Act, 1872 and the Code of Criminal Procedure, 1898,
respectively

France President Emmanuel Macron to be Chief Guest for 75th Republic Day celebrations
● President of France Emmanuel Macron will be the Chief Guest for the 75th Republic Day
celebrations.
● External Affairs Ministry, at the invitation of Prime Minister Narendra Modi, the President of France
will visit India for the Republic Day celebrations.
● India and France share a high degree of convergence on a range of regional and global issues.
● This year, both countries are celebrating the 25th anniversary of the India-France Strategic
Partnership.
● Prime Minister Modi was the Guest of Honour at the Bastille Day Parade held on 14 July 2023 in
Paris.
Govt allows extra borrowing ceiling of over Rs 60,000 crore to states for NPS
● Government allowed additional borrowing of Rs 60,000 crore to 22 states for the National Pension
Scheme.
● The Department of Expenditure approved an extra borrowing of Rs 60,876.8 crore to 22 States in
2023-24 for the National Pension Scheme.
● 3 per cent of the Gross State Domestic Product (GSDP) or Rs 8,59,988 crore in absolute terms was
fixed as the normal net borrowing ceiling for states in FY24.
● The central government has earlier approved additional financial incentives worth Rs 66,413 crore to
12 states for reforms in the power sector.
● Additional borrowing of Rs 39,175 crore was allowed to 12 states in 2021-22 and Rs 27,238 crore to
6 States in 2022-23.
● States have the facility of tapping Rs 1.3 lakh crore 50-year interest-free capex loans facility for
FY24.Capital expenditure of Rs 91,471.43 crore has been approved for 25 states.

Govt gives Rs 5,228 crore subsidy to incentivize 11.53 lakh EVs in 2023
• The government has given 5,228 crore rupees subsidy to incentivise 11.53 lakh Electric Vehicles in
the country in 2023.
• The government has also sanctioned 800 crore rupees to PSU Oil marketing companies for setting
up seven thousand 432 public fast-charging stations across the country.
• Ministry of Heavy Industries said that a total of 148 Electronic Vehicles Public Charging Stations are
currently working in the country.
• The Ministry said that it is implementing Phase II of the Faster Adoption and Manufacturing Electric
Vehicles (FAME-II) scheme to reduce dependence on fossil fuels and address the issue of vehicular
emissions.
Home Minister Amit Shah inaugurates and lays foundation stone of several projects worth over Rs 3500
crore in Chandigarh
• Union Home Minister Amit Shah inaugurated 9 projects worth 368 crore rupees and laid the
foundation stone of three projects worth 3200 crore rupees in Chandigarh.
• He also flagged off the fleet of Chandigarh Police cars worth 3.75 crore rupees and a state-of-the-art
police control vehicle 'Eagle'.
• The Home Minister also handed over appointment letters to newly recruited 700 constables and 44
ASI in Chandigarh police today and congratulated them.
• Cyber Operation and Security Centre (CENCOPS) has also been inaugurated.
Centre releases ₹72,961 crore as tax devolution to States bl-premium-article-image
• The Centre has released ₹72,961 crore in the form of tax devolution to States.
• Out of the ₹72,961.21 crores installment disbursed, the largest share has gone to Uttar Pradesh.
• Uttar Pradesh is followed by Bihar at ₹7,338.44 crore, Madhya Pradesh at ₹5,727.44 crore and West
Bengal ₹5,488.88 crore.
• d (2026-27 to 2030-31).
• It would submit its report to the President by October 31, 2025.
ICAI unveils new CA India logo
• Vice-President of India, Jagdeep Dhankhar launched this new logo of the Institute of Chartered
Accountants of India (ICAI).
• The new logo has been unveiled at a recently held Global Professional Accountants Convention
(GloPAC), in Gandhinagar.
• It is made up of the letters ‘CA’ in blue with a tricolour tick mark (upside down) on a white
background.
• The blue colour denotes innovativeness, creativity, knowledge, trust, integrity, stability, truth, and
depth.
• The upside-down tick mark in tricolor has been included to symbolise the wisdom and value of the
professionals.
Union Minister Smriti Irani inaugurates National Programme on Anganwadi-cum-Crèches in New Delhi
• Union Minister Smriti Irani inaugurated the National Programme on Anganwadi-cum-Creches in New
Delhi.
• The government is planning to open 17 thousand creches all around the country.
• The objective of Anganwadi-cum-Creches is to provide quality Creche facilities in a safe and secure
environment for children aged between 6 months to 6 years.
• These crèches will provide nutritional support, health and cognitive development of children.
• It will also ensure immunization, education etc. of children’s.
• Palna, a sub-scheme under Mission Shakti, was launched in April 2022 to provide daycare facilities
and protection to children.
Union Minister Bhupender Yadav launches a NITI Aayog report, ‘A Green and Sustainable Growth
Agenda for the Global Economy
• Union Minister Bhupender Yadav launched a NITI Aayog report, ‘A Green and Sustainable Growth
Agenda for the Global Economy’.
• A report titled ‘A Green and Sustainable Growth Agenda for the Global Economy’ has been released
in the presence of Amitabh Kant, Sherpa, G20 India, and Suman Bery, Vice Chairman, NITI Aayog.
• NITI Aayog published this report in partnership with the International Development Research Centre
(IDRC) and the Global Development Network (GDN).
• This report has been released to enable the transfer of knowledge that came out of the G20
international conferences.

CBDT notifies ITR Forms ITR-1 and ITR-4 for AY 2024-25

• The Central Board of Direct Taxes (CBDT) has notified two new return forms, ITR-1 (SAHAJ) and
ITR-4 (SUGAM), for the Assessment Year 2024-25. These forms will come into effect from April 1,
2024.
• ITR-1 (SAHAJ) is to be used by individuals with total income up to Rs 50 lakh, having income from
salaries, one house property, other sources (like interest) and agricultural income up to Rs 5,000.
• On the other hand, ITR-4 (SUGAM) is applicable to individuals, HUFs and firms (other than LLPs)
with total income up to Rs 50 lakh and income from business and profession computed under
Sections 44AD, 44ADA or 44AE.
• July 31, 2024 is the last date to file ITR for FY 2023-24 (AY 2024-25), unless it gets extended.
• Individuals, besides Hindu Undivided Families (HUFs), firms having income up to Rs 50 lakh and
those having earnings from business and profession in the current fiscal (April 2023-March 2024)
can commence filing returns for the income earned this financial year.

Govt app to allow live tracking of cargo across land, rail, sea & air
• India will launch an app that will enable companies to track their live cargo across land, rail, sea, and
air.
• The app has garnered interest from over 700 companies acros s courier, logistics, shipping, and
manufacturing.
• These companies have signed up on the app which the government will launch soon.
• The National Industrial Corridor Development Corporation (NICDC) is reportedly developing this
app,
• NICDC will use specific tracking codes to track and trace the consignment.
• The initiative is part of India's plan to streamline logistics and reduce costs.
• India's logistics cost was 7.8-8.9% of the country's gross domestic product (GDP) in fiscal year 2022.
• India wants to reduce it to 5-6%.
• The app also aligns with India's broader plan to improve its ranking in the World Bank's Logistics
Performance Index, from 38 currently down to 25.
Dr. Mansukh Mandaviya virtually launches 'MedTech Mitra': A Strategic Initiative to Empower MedTech
Innovators and Advance Healthcare Solutions
• Union Health Minister Dr. Mansukh Mandaviya today virtually launched MedTech Mitra - a strategic
initiative to empower MedTech innovators and advance healthcare solutions.
• It will be a game-changer for Indian MedTech industry and facilitate indigenous development of
affordable, quality MedTech devices and diagnostics.
• Dr. Mandaviya stated that the medical devices sector is an integral constituent of India’s healthcare
sector.
• India is taking a holistic approach to health with a vision to transform the health landscape in the
country by 2047.
Centre launches 3 sub-schemes under RAMP including Online Dispute Resolution for Delayed
Payments for MSMEs
• Union Minister for Micro, Small & Medium Enterprises (MSME) launched three sub-schemes under
the aegis of the RAMP programme.
• These are MSME Green Investment and Financing for Transformation Scheme (MSE GIFT
Scheme), MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme)
MSE Scheme on Online Dispute Resolution for Delayed Payments.
• The first scheme - The MSME Green Investment and Financing for Transformation Scheme (MSME
GIFT Scheme) intends to help MSMEs adopt green technology with interest subvention and credit
guarantee support.
• The MSE Scheme for Promotion and Investment in Circular Economy (MSE SPICE Scheme) is the
first-ever scheme in the Government to support circular economy projects which will be done
through credit subsidy and will lead to realising the dream of MSME sector towards zero emissions
by 2070.
• The Support for Commercialisation of IP Programme (MSME – SCIP Programme) will enable the
innovators in the MSME sector to commercialize their IPR.
• In addition, the ZED Scheme of the Ministry has now been made completely free for women led
MSMEs.
• These two interventions were also launched by the Union Minister .
• It aims to improve the performance of micro, small, and medium enterprises (MSMEs) in India. It
was launched in 2022.
• Small Industries Development Bank of India (SIDBI) for MSME GIFT and MSME SPICE schemes
and National Informatics Centre Services Inc. (for NICSI) for MSE ODR scheme.
1467 projects of National Highways Authority of India (NHAI) have been brought under the Bhoomi
Rashi Portal
• The Union Minister of Road Transport and Highways, 1467 projects of the National Highways
Authority of India (NHAI) have been brought under the Bhoomi Rashi Portal.
• It is an e-governance initiative of the Ministry of Roa d Transport and Highways.
• The portal intends to expedite the process of land acquisition for National Highways.
• It acts as a single-point platform for the online processing of land acquisition notifications to
accelerate highway infrastructure development projects in India.
• This portal would enhance the efficiency of the land acquisition process, ensure transparency and
accountability, and result in the e-transfer of benefits directly to the accounts of the beneficiaries.
Cabinet approves the Migration and Mobility Agreement between India and Italy
• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has given its ex-post facto
approval to the proposal of Ministry of External Affairs to sign and ratify the Migration and Mobility
Agreement between the Government of the Republic of India and the Government of the Italian
Republic.
• The Agreement would enhance people-to-people contacts, foster mobility of students, skilled
workers, business people and young professionals and strengthen cooperation on issues related
to irregular migration between the two sides.
• Additionally, the Agreement also formalises joint working on fur­thering mobility pathways
between India and Italy through agreements on Youth Mobility and Facilitation of Recruitment of
Indian qualified professionals in the healthcare and medical services sectors which will be
discussed under the Joint Working Group (JWG).
• Cooperation between the two parties in fight against irregular migration has also been formalised
through the Agreement.
• Unless terminated by any Participant, the Agreement will be automatically renewed for a similar
successive period.
Cabinet approves opening of Consulate General of India in Auckland, New Zealand
• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the proposal
to open of a Consulate General of India in Auckland, New Zealand.
• Opening of Consulate General of India in Auckland would help in increasing India’s diplomatic
footprint and strengthen India’s diplomatic representation in view of India’s increasing global
engagement.
• This will also help promote India’s strategic and commercial interests and better serve the
welfare of Indian community in Auckland.
 • The Consulate is likely to be opened and fully operationalized within a time frame of 12 months.
Cabinet approves India and Malaysia sign an MoU for Cooperation in Broadcasting between Prasar
Bharati and Radio Televisyen Malaysia
• The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi was apprised of the
MoU/Agreement signed which has an immense potential to strengthen the cooperation in the
field of broadcasting, exchange of news, and audio-visual programmes as well as significantly
augment India’s friendly relations with the country.
• With this, the total number of MoUs signed by Prasar Bharati with different countries has
increased to 46.
• These MoUs are going to be crucial in distribution of content in other countries, in developing
partnerships with international broadcasters and exploring new strategies to address the
demands of new technologies.
• The major benefit arising out of signing of MoUs are exchange of programmes in the areas of
Culture, Education, Science, Technology, Sports, News and other fields on gratis/non-gratis
basis.
• India’s Public Service Broadcaster, Prasar Bharati has entered into a Memorandum of
Understanding with Radio Televisyen Malaysia, the Public Service Broadcaster of Malaysia in
order to promote cooperation in public broadcasting in the field of radio and television.
Cabinet approves Minimum Support Price for Copra for 2024 season
• The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi, has
given its approval for the Minimum Support Prices (MSPs) for copra for 2024 season.
• In order to provide remunerative prices to the cultivators, government had announced in the
Union Budget of 2018-19, that MSPs of all the mandated crops will be fixed at a level of at least
1.5 times of all India weighted cost of production.
• The MSP for Fair Average Quality of milling copra has been fixed at Rs.11,160/- per quintal and
for ball copra at Rs.12,000/- per quintal for 2024 season.
• Milling copra is used to extract oil, while ball/edible copra is consumed as a dry fruit and used for
religious purposes.
• Kerala and Tamil Nadu are major producers of million copra, whereas ball copra is produced
predominantly in Karnataka.
• The MSP for 2024 season is an increase of Rs.300/- per quintal for milling copra and Rs.250/-
per quintal for ball copra over the previous season.
 • A higher MSP will not only ensure better remunerative returns to the coconut growers but also
incentivize farmers to expand copra production to meet the growing demand for coconut products
both domestically and internationally.
Cabinet approves improvement and widening of 135 km stretch of Khowai-Harina road in Tripura
• The Cabinet Committee on Economic Affairs, chaired by Prime Minister Shri Narendra Modi, has
given its approval for Improvement & Widening to two lanes with a paved shoulder of road from
km 101.300 (Khowai) to km 236.213 (Harina) of NH-208, covering a total length of 134.913 kms
in the State of Tripura.
• The project involves an investment of Rs.2,486.78 crore which includes a loan component of
Rs.1,511.70 crore (JPY 23,129 Million).
• The loan assistant will be from the Japan International Cooperation Agency (JICA) under Official
Development Assistance (ODA) scheme.
• The project is envisaged to facilitate better road connectivity between various parts of Tripura
and to provide alternative access to Assam and Meghalaya from Tripura apart from existing NH-
8.
• After completion of the project, the connectivity will be improved which help to generate more
revenue to the State as well as income for local public.
• The construction period for the project stretches will be 2 years which includes the maintenance
of these National Highways stretches for 5 years (in the case of flexible pavement)/ 10 years (in
the case of rigid pavement) after completion of construction.
Cabinet approves construction of New 4.56 km long, 6-Lane Bridge across River Ganga connecting
Digha and Sonepur in Bihar
• The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi,
gave its approval for the Construction of New 4556 m long, 6-Lane High Level/ Extra Dosed
Cable stayed Bridge across River Ganga (Parallel to Western Side of Existing Digha-Sonepur
Rail-Cum Road Bridge) and its approaches on both sides in the Districts of Patna and Saran
(NH-139W) in the State of Bihar on EPC mode.
• The Total cost for the project is Rs.3,064.45 crore which includes civil construction cost of
Rs.2,233.81 crore.
• The Bridge will make the traffic faster and easier resulting in overall development of the State,
especially North Bihar.
• The work is to be implemented on EPC Mode with the use latest technology like 5D-Building
nformation Modelling (BIM), Bridge Health Monitoring System (BHMS), monthly drone mapping to
ensure quality of construction and operations.
• The work is targeted to be completed in 42 months from the appointed date.
Major impact, including employment generation potential:
• This project is aimed at providing faster commute and to provide better connectivity between North
and South Parts of the Bihar. Thus, promoting the socio-economic growth of the entire region.
• The Bridge will connect two Districts namely Patna at Digha on South side and Saran on North Side
across River Ganga, Bihar.
• Government has declared the stretch “the Highway starting from its junction with NH-139 near Patna
(AIIMS) connecting Bakarpur, Manikpur, Sahebganj, Areraj and terminating at its junction with NH-
727 near Bettiah in the State of Bihar” as NH-139(W) vide Gazette Notification dated 8th July 2021.
Parliament passes 'Telecommunications Bill, 2023'
• The Telecommunications Bill, 2023, was passed in the Parliament.
• At present, the Indian Telecommunications sector is governed by three separate Acts of Parliament
– Indian Telegraph Act 1885, Indian Wireless Telegraphy Act 1933, Telegraph Wires, (Unlawful
Protection) Act 1950
• The Telecommunications Bill, of 2023 aims to consolidate these three separate Acts.
• Specified purposes include: (i) national security and defence, (ii) disaster management, (iii) weather
forecasting, (iv) transport, (v) satellite services such as DTH and satellite telephony, and (vi) BSNL,
MTNL, and public broadcasting services.
• The Bill amends the TRAI Act to also allow individuals with:
(i) at least 30 years of professional experience to serve as the Chairperson, and (ii) at least 25 years
of professional experience to serve as members.
• The Universal Service Obligation Fund has been established under the Indian Telegraph Act, 1885
to provide for telecom services in underserved areas.
• The Bill retains this provision, renames the fund as Digital Bharat Nidhi, and also allows its use for
research and development in telecom.
World Bank and Department of Economic Affairs launch PPP Beginner’s e-course to foster
collaboration between public and private sectors in infrastructure capacity-building
• In a step towards fostering collaboration between the public and private sectors in infrastructure
capacity-building, the Department of Economic Affairs (DEA), Ministry of Finance, Government of
India, and World Bank Group have launched an e-course.
• The e-course was launched by Ajay Banga, President, World Bank Group, launched the Public-
Private Partnership (PPP) Beginner’s e-Course.
• The course on PPPs comprises 5 modules which covers the major elements associated with the
lifecycle of PPP projects, including introduction to PPPs, identification of PPP projects, structuring of
projects, tendering and implementation and monitoring aspects of PPP projects.
• The duration of the course is 7 hours and 15 mins but is designed to be self-paced.
President Approves Chief Election Commissioner Bill and GST Amendment
• President Droupadi Murmu gave her assent to the Chief Election Commissioner and other Election
Commissioners (Appointment, Conditions of Service and Term of Office) Bill, 2023.
• It was passed by the Parliament in the recently concluded Winter Session.
• The new legislation provides for the appointment, salary, and removal of the Chief Election
Commissioner (CEC) and Election Commissioners (ECs). According to the provisions, the CEC and
ECs will be appointed by the President upon the recommendation of a Selection Committee.
• The Chief Election Commissioner and other Election Commissioners shall hold office for a term of
six years from the date on which she/he assumes office or till she/he attains the age of sixty-five
years, whichever is earlier.
• The Chief Election Commissioner and other Election Commissioners shall not be eligible for re-
appointment.
• President Murmu also gave her assent to the Central Goods and Services Tax (Second
Amendment) Bill, 2023.
Central Government Raises Interest Rates on Select Small Savings Schemes
• The Central government has increased the rate of interest on two small savings schemes for
January-March 2024 quarter by up to 20 basis points.
• As per a notification by the Finance Ministry, the rate of interest on the Sukanya Samriddhi Account
Scheme has been raised by 20 basis points to 8.2 percent from 8 percent.
• Further, interest on the three-year time deposit has been increased by 10 basis points to 7.1 percent
from 7.0 percent.
• All other small savings schemes will continue to offer the same rate of interest as they did in
October-December quarter.
Environment Minister Launches National Transit Pass System for Forest Produce Movement
• Union Environment Minister Bhupender Yadav launched the National Transit Pass System (NTPS)
pan-India to facilitate the seamless transit of timber, bamboo, and other forest produce across the
country.
• Mr Yadav said that NTPS is envisioned as a ‘One Nation-One Pass’ regime that will contribute to the
ease of doing business.
• NTPS will help strengthen the journey towards greater transparency, which is Prime Minister
Narendra Modi’s guarantee for India’s development.
• The system will also serve as a bridge between the rural and urban economy.
• Minister of State for Environment Ashwini Kumar Choubey emphasized that the NTPS is a game-
changer for agroforestry and trees outside the forest.
• NTPS is designed for user convenience, featuring desktop and mobile applications for easy
registration and permit applications.
• Presently, 25 States and Union Territories have adopted the unified permit system, streamlining
interstate business operations for producers, farmers, and transporters.
Fifty-one mineral exploration projects worth over 419 crore rupees were approved this year by the
National Mineral Exploration Trust
• Fifty-one mineral exploration projects worth over 419 crore rupees have been approved this year by
National Mineral Exploration Trust.
• The Mines Ministry, Geological Survey of India has taken up a total of 358 Mineral Exploration
Projects this year.
• In a bid to strengthen the supply chain of critical minerals in the country, the government has
launched the first auction process for twenty-four critical and strategic minerals.
• The Ministry has streamlined the rules and provisions of the District Mineral Foundation (DMF)
effective implementation of Pradhan Mantri Khanij Kshetra Kalyan Yojana.
• Efforts have been made to include private sector and latest technology into mineral exploration and
processing.
• The Centre has also introduced key policy measures and amendments including Mines and Minerals
(Development and Regulations) Amendment Act, 2023 and Offshore Area Minerals (Development
and Regulations) Amendment Act, 2023.
Shri Nitin Gadkari sanctions 29 road projects in Ladakh worth Rs 1170.16 crore
• Union Minister for Road Transport and Highways Shri Nitin Gadkari has sanctioned in the Union
territory of Ladakh an allocation of 1170.16 crore for 29 roads projects, encompassing state
Highway, major and other District roads.
• Shri Gadkari, additionally, 181.71 crore has been allocated for 8 bridges under the CRIF Scheme for
the fiscal year 2023 24.
• The Union Minister, Ladakh, the largest Union Territory in terms of area and the second least
populous in India, will witness improved connectivity to its remote villages through the approved
initiatives.
• The enhancement is expected to stimulate economic activities, particularly in agriculture and
tourism, contributing to the overall infrastructural development of Ladakh.
Prime Minister Narendra Modi becomes first world leader to reach 2 crore subscribers on YouTube
channel
• Prime Minister Narendra Modi becomes first world leader to reach 2 crore subscribers on YouTube
channel.
• Prime Minister Narendra Modi has become the world's first leader to have 20 million subscribers on
the YouTube channel.
• He has surpassed global leaders in terms of both subscribers and video views.
• Former Brazilian president Jair Bolsonaro is second on the list of subscriber numbers with around 64
lakh.
• In terms of views, Ukrainian President Volodymyr Zelenskyy is in second spot with 22.4 crore views.
• Among the Indian leaders, Rahul Gandhi's channel has more than 35 lakh subscribers.
• Prime Minister Narendra Modi set up his YouTube channel in 2007.

INTERNATIONAL NEWS
Ministry of Tourism Hosts International Tourism Mart in Shillong, Meghalaya to Showcase North East
Region's Tourism Potential
• The Ministry of Tourism, Government of India is organising the 11th edition of International
Tourism Mart at Shillong, Meghalaya.
• The International Tourism Mart is an annual event held by the Ministry in one of the North Eastern
States on rotation basis.
• The International Mart is also going to be a unique event, as it has been planned as a Green Event
by adopting low carbon options on the lines of the action points formulated by Ministry of
 Environment, Forest and Climate Change, GOI for implementation of Mission LiFE and sensitising
the tourism stakeholders and generating greater awareness about its objectives.
About Ministry of Tourism :
• Cabinet Minister : G. Kishan Reddy
• Minister of State : Shripad Naik, Ajay Bhatt
Nepal Achieves Milestone as the First South Asian Nation to Legally Recognize Same-Sex Marriage
• Nepal has become the first South Asian country to officially register same-sex marriage.
• The marriage between 36-year-old Ram Bahadur (Maya) Gurun and Surendra Pandey has been
registered in Nepal.
• The registration of same-sex marriage in Nepal is facilitated by an interim order from the Supreme
Court, which supports the legal recognition of marriages between same-sex couples.
About Nepal :
• President : Ram Chandra Poudel
• Prime Minister : Pushpa Kamal Dahal
• Capital : Kathmandu
• Currency : Nepalese rupee
Pakistan Secures Vice Chair Post at UNESCO with a 10-Vote Lead Over India
• Pakistan secured a significant victory over India in the UNESCO executive board election for the
post of vice-chair.
• The Pakistani candidate received 38 votes, while the Indian candidate received only 18
• Pakistan’s victory of being elected as vice chair of the UNESCO Executive Board for 2023-2025
from the Asia Pacific Group, is being seen as a major setback for Indian
diplomats in the UN.
About UNESCO :
• Founded : 1945
• Headquarters : Paris, France
• Director General : Audrey Azoulay
About Pakistan:
• Capital: Islamabad
• Currency: Rupee
• President: Arif Alvi
India-Sweden Industry Transition Partnership, LeadIT 2.0 Launched at COP28 Dubai
• India and Sweden launched Leadership Group for Industry Transition (LeadIT) 2.0 during the
COP28 World Climate Action Summit, hosted in Dubai for the period 2024-26, at COP-28 in Dubai.
• LeadIT was initially co-launched by India and Sweden at the UN Climate Action Summit in New
York in 2019.
• LeadIT has grown into a collaborative effort involving 18 countries and 20 industry-leading
companies.
• The LeadIT initiative, initially centred around pivotal sectors such as iron, steel, cement, and
aluminium, focused on industry transition and knowledge sharing.
About Sweden :
• Prime Minister : Ulf Kristersson
• Capital : Stockholm
• Currency : Swedish krona

18 Countries Back New Global Guidelines, Crafted by the US and UK, to Enhance Cybersecurity in
Artificial Intelligence (AI)
• 18 countries endorsed new global guidelines, developed by the United States (US) and the United
Kingdom (UK), to make artificial intelligence (AI) “secure by design” and “raise the AI cybersecurity
bar.
• The Guidelines for Secure AI System Development deal with secure design, development,
deployment and operation and maintenance of AI systems.
• The guidelines were formulated by the UK’s National Cyber Security Centre (NCSC) and the US’s
Cybersecurity and Infrastructure Security Agency (CISA).
• They aim to “raise the cybersecurity levels of artificial intelligence and help ensure that it is
designed, developed, and deployed securely.
Prime Minister Shri Narendra Modi Advocates India as Host for 2028 Climate Conference, Urges
Nations to Prioritise Global Interests
• Prime Minister (PM) Shri Narendra Modi calls on countries to prioritise global interests over self-
interest and fulfil all climate obligations.
• Emphasizes the need for developing countries to have appropriate access to the remaining global
carbon budget.
 • Speaking at the high-level segment of the COP28 meeting in Dubai (UAE), he also proposed to
host the 2028 climate change conference, COP33, in India.
• India has hosted the annual climate change conference called the conference of parties (COP) of
the UNFCCC once earlier - COP8 in 2002.

Pakistan Submits BRICS Membership Application in 2024

• Pakistan has filed an application to join the BRICS group of nations in 2024 and is counting on
Russia’s assistance during the membership process.
• Pakistan’s application came as the grouping of emerging economies was set for its biggest
expansion with 6 new members under Russia’s rotating Presidency in 2024.
• New Members: Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE)
as new members formally admitted to the BRICS summit-2023 held in South Africa.
• However, they will formally join during the 2024 summit in Kazan, Russia.
About New Development Bank (NDB) :
• New Development Bank (NDB) is a multilateral development bank established by BRICS during
the Summit held in Fortaleza on July 15, 2014, and the Bank started operations on July 21, 2015.
• It consists of Brazil, Russia, India, China, and South Africa, which was previously known as BRIC
before South Africa’s inclusion in 2010.
About Pakistan:
• Capital: Islamabad
• Currency: Rupee
• President: Arif Alvi

The UAE announced a US$30 billion commitment to the newly launched catalytic climate vehicle,
ALTÉRRA.
• With this US$30 billion commitment, ALTÉRRA becomes the world’s largest private investment
vehicle for climate change action and will aim to mobilize US$250 billion globally by 2030.
• It aims to steer private markets towards climate investments and focus on transforming emerging
markets and developing economies, where traditional investment has been lacking due to the
higher perceived risks across those geographies.
 • ALTÉRRA has been established by Lunate, an independent global investment manager, and is
domiciled in the Abu Dhabi Global Market.

India to Extend $250 Million Line of Credit to Kenya for the Modernization of its Agricultural Sector
• India has committed a $250 million Line of Credit to Kenya for the modernization of its agricultural
sector.
• The announcement came following talks between Indian Prime Minister Narendra Modi and
Kenyan President William Samoei Ruto.
• Modi and Ruto discussed and agreed to strengthen bilateral ties in various sectors, including
defence, trade, energy, digital public infrastructure, and healthcare.
About Kenya :
• President : William Samoei Ruto
• Capital : Nairobi
• Currency : Kenyan shilling
Italy withdraws from China's Belt and Road project
• Italy has officially pulled out of China's Belt and Road infrastructure initiative, making this move
more than four years after initially joining as the sole G7 nation to do so.
• Italy had initially signed an agreement to join the BRI in 2019.
• However, after 4 years, the expected benefits did not materialize for Italy.
• The agreement with China was supposed to be automatically renewed after expiring in March
2024, unless Rome gave at least three months' written warning of pulling out.
• Chinese FDI in Italy dropped from $650 million in 2019 to just $33 million in 2021.

India Chosen as the Flagship Nation for the International Maritime Organization (IMO) Green Voyage
2050 Project
•

• India has been selected as the pioneer lead country for the International Maritime Organization
(IMO) Green Voyage2050 Project.
• The overall goal of the Project is to support effective implementation of the Initial IMO GHG
Strategy.
• The Initial IMO Strategy sets out a clear vision and levels of ambition, one of which is to reduce the
total annual GHG emissions by at least 50% by 2050 compared to 2008.
UNICEF and India Jointly Launch "Green Rising" Initiative at COP28 to Mobilize Youth for Climate
Action
• The United Nations Children's Fund (UNICEF), originally known as the United Nations International
Children's Emergency Fund, and India will launch the "Green Rising" initiative at the COP28
Summit in Dubai.
• UNICEF's Generation Unlimited, in collaboration with India's Ministry of Environment, Forest, and
Climate Change will launch this initiative.
• This initiative will be launched to mobilize youth to drive climate action.
• The "Green Rising India Alliance" and the global "Green Rising" programme are the result of a
partnership between UNICEF, Generation Unlimited, and a wide range of youth, public, and
business partners.
About UNICEF :
• Headquarters : New York, United States
• Executive Director : Catherine Russell
• UNICEF is an agency of the United Nations responsible for providing humanitarian and
developmental aid to children worldwide.

Sweden and United States Ink Defence Cooperation Agreement in Washington

• Sweden signed a defence cooperation agreement with the United States in Washington.
• It will allow the US to access all of the military bases in the Scandinavian country which is about to
join the trans-Atlantic security alliance, North Atlantic Treaty Organization (NATO).
• The US struck a similar deal with Sweden’s neighbour, Norway, in 2021 and is currently
negotiating such an agreement with two other Nordic countries, Finland and Denmark.
• Sweden and Finland decided to drop their long-standing policy of non-alignment and
apply for NATO membership following Russia’s full-scale invasion of Ukraine last year. Finland
joined NATO in April, 2023.
About Sweden :
• Prime Minister : Ulf Kristersson
• Capital : Stockholm
• Currency : Swedish krona
Argentina's Entry into BRICS Postponed; Not Joining Developing Economies Bloc Next Year as
Planned
• Argentina's entry into the BRICS bloc of developing economies, originally scheduled for January 1,
2024, has been postponed.
• The decision is seen as a precursor to a significant foreign policy shift in Argentina under the
leadership of right-wing populist Mr. Milei, indicating potential changes in diplomatic priorities.
• Argentina was one of six countries invited in August to join BRICS, comprising Brazil, Russia,
India, China, and South Africa.
• The move aimed to expand the bloc to an 11-nation alliance.

Garba Dance from Gujarat Recognized as UNESCO's 'Intangible Cultural Heritage'

• The United Nations Educational, Scientific and Cultural Organization (UNESCO) approved the
inclusion of garba, Gujarat’s most popular folk dance form, in its Representative List of Intangible
Cultural Heritage (ICH) of Humanity.
• A decision to “inscribe” the dance form as “intangible heritage” was taken at the 18th session of
UNESCO’s Intergovernmental Committee for Safeguarding of Intangible Cultural Heritage held in
the Republic of Botswana
• With this, 15 elements from various parts of India have been inscribed to UNESCO’s
representative list of ICH.
About UNESCO Intangible Cultural Heritage List :
• The UNESCO Intangible Cultural Heritage List was established in 2008.
• Objective of UNESCO 2003 Convention: The objective of listing under the UNESCO 2003
Convention is to recognize and promote the significance of intangible cultural heritage while
fostering awareness and respecting cultural diversity.
• Indian Representation in IGC: In 2022, India became part of the 24-member Intergovernmental
Committee (IGC) of the ICH 2003 Convention for a tenure of 4 years.
• Cultural Diversity and Dialogue: The listing under UNESCO's conventions aims to foster dialogue
that respects cultural diversity and emphasizes the importance of preserving and celebrating
cultural traditions.
About UNESCO:
• Established : 16 November 1945
• Headquarters : Paris, France
 • Director General : Audrey Azoulay
• Parent Organisation : United Nations Economic and Social Council
• UNESCO is a specialised agency of the United Nations (UN) aimed at promoting world peace and
security through international cooperation in education, arts, sciences and culture.
India Pledges $1 Million in Immediate Relief Aid to Papua New Guinea Following Mount Ulawun
Volcanic Eruption
• India announces a $1 million relief assistance package for Papua New Guinea in the aftermath of
the Mount Ulawun volcanic eruption.
• The financial aid is designated for immediate relief and will support rehabilitation and
reconstruction efforts in Papua New Guinea.
• Ulawun is the highest mountain in New Britain and the second in the Bismarck Archipelago at
2,334 metres, and is one of the most active volcanoes in Papua New Guinea.
• India, as a close friend and in solidarity with the people of Papua New Guinea, will provide
immediate relief assistance to aid rehabilitation and reconstruction efforts.
About Papua New Guinea :
• Prime Minister : James Marape
• Capital : Port Moresby
• Currency : Kina
Dubai Unveils World's Largest Concentrated Solar Power Project during COP28
• The fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park has been inaugurated by
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and
Ruler of Dubai.
• This marks the launch of the world's largest Concentrated Solar Power (CSP) project.
• Built at an investment of AED15.78 billion, the 950 MW project utilises three hybrid technologies.
• The three hybrid technologies used are 600 MW from a parabolic basin complex, 100 MW from a
CSP tower, and 250 MW from photovoltaic solar panels.
• According to Guinness World Records, the project includes the world's tallest solar tower at
263.126 metres and the largest thermal energy storage capacity with a capacity of 5,907 megawatt
hours.

India Allocates Rs.100 Crore Annually to Support International Solar Alliance for Energy Transition in
Developing Economies (2022-2025)
 • The Union Minister for New & Renewable Energy and Power has informed that the G20 New Delhi
Leaders’ Declaration states in Para 38(v) that G20 members “will pursue and encourage efforts to
triple renewable energy capacity globally through existing targets and policies, as well as
demonstrate similar ambition with respect to other zero and low-emission technologies, including
abatement and removal technologies, in line with national circumstances by 2030.”
• The Government of India has taken several steps and initiatives to promote and accelerate
renewable energy capacity in the country with the target to achieve 500 GW of installed electric
capacity from non-fossil sources by 2030.
Sri Lanka Secures Debt Treatment Agreement with India and Paris Club
• Sri Lanka has achieved an “agreement in principle” with India and the Paris Club group of creditors
on a debt treatment plan.
• Objective of the Agreement : The agreement facilitates Sri Lanka's access to the next installment
of the International Monetary Fund’s (IMF) nearly $3 billion recovery package.
• Terms of Debt Treatment Agreement : Sri Lanka and the Official Creditor Committee (OCC)
reached an agreement on the main parameters of debt treatment.
• These parameters are consistent with those of the Extended Fund Facility (EFF) arrangement
between Sri Lanka and the IMF.
• Default on Foreign Debt by Sri Lanka : Sri Lanka decided to default on its almost $51 billion foreign
debt.
About Sri Lanka
• Capitals: Colombo, Sri Jayawardenepura Kotte
• Currency: Sri Lankan Rupee
• Prime minister: Dinesh Gunawardena

India and UAE Jointly Host Global Green Credit Initiative at COP-28
• Prime Minister Narendra Modi together with President Sheikh Mohammed bin Zayed Al Nahyan of
the United Arab Emirates (UAE), co-hosted the High-level event on ‘Green Credits Programme’ at
COP-28, in Dubai.
• The Green Credit Initiative has been conceptualised as a mechanism to incentivize voluntary pro-
planet actions, as an effective response to the challenge of climate change.
• It envisions the issue of Green Credits for plantations on waste/degraded lands and river
catchment areas, to rejuvenate and revive natural eco-systems.
 • In a landmark announcement at COP28 (1st December 2023), the Indian PM launched the 'Green
Credit Initiative,' a pathbreaking program aimed at reshaping global environmental policies.
About UAE :
• President : Mohamed bin Zayed Al Nahyan
• Prime Minister : Mohammed bin Rashid Al Maktoum
• Capital : Abu Dhabi
• Currency : UAE dirham
New Zealand's Newly Elected Government Reverses Decision on Smoking Ban
• New Zealand's newly elected government has repealed the decision to implement a smoking ban
for the new generation.
• The decision to ban smoking for the new generation has been reversed by the newly-elected
government.
• The smoking ban in New Zealand was initially implemented to save lives and prevent youths from
taking up smoking.
About New Zealand:
• Prime Minister : Chris Hipkins
• Capital : Wellington
• Currency : Dollar

India and the United States Collaborate on a $390 Million Funding Initiative to Implement 50,000
Electric Buses by 2027
● India is aiming to get 50,000 electric buses on its streets by 2027 with help from a joint finance
mechanism with the United States (US).
● The $390 million fund will act as a guarantee for manufacturers seeking loans to expand
production, Indian and US officials said at a side event at COP28. India currently only has 12,000
e-buses in operation.
● The payment security mechanism, established with $150 million from the US government and
philanthropic groups, and $240 million from the Indian government.
India, South Korea, and the United States to Establish Technology Trialogue
● India, South Korea and the United States (US) will start an informal trilateral technology dialogue
in the first quarter of 2024 in response to China's rapid progress in critical technologies within the
Indo-Pacific region.
 ● The decision was made during the inaugural US-South Korea Next Generation Critical &
Emerging Technologies Dialogue held in Seoul.
● The two sides agreed to hold “National Security Council and National Security Office-led
consultations with like-minded partners on critical and emerging technologies including through
launching an informal trilateral technology dialogue with India in the first quarter of 2024".
● An Initiative on Critical and Emerging Technology (iCET), announced by India and the US in
2022, has been one high- profile example.
● Similar to the Quad group, the India-US-South Korea trilateral dialogue aims to address critical
technologies.
● This collaboration could complement the Quad initiative.
● The Quad countries (Australia, India, Japan, and the US) launched the Quad Principles on
Technology Design, Development, Governance, and Use at the Quad Leaders’ Summit on
September 24, 2021.
● The Seoul meeting, chaired by US National Security Advisor Jake Sullivan and Republic of Korea
(ROK) National Security Advisor Cho Tae-yong, outlined six main strategic technology areas for
cooperation.
About United States :
● President : Joe Biden
● Capital : Washington, D.C
● Currency : U.S. dollar
About South Korea :
● President : Yoon Suk Yeol
● Prime Minister : Han Duck-soo
● Capital : Seoul
● Currency : Korean Republic won
Prime Minister Shri Narendra Modi inaugurates annual Global Partnership on Artificial Intelligence
(GPAI) Summit in New Delhi
● The Global Partnership on Artificial Intelligence (GPAI) Summit was inaugurated at Bharat
Mandapam in New Delhi.
● Prime Minister Modi emphasized that Artificial Intelligence is for social development and inclusive
growth and the government has drafted its policies and programs with the spirit of AI for All.
● GPAI is a multi-stakeholder initiative with 29 member countries.
 ● Its goal is to bridge the gap between theory and practice on AI by supporting cutting-edge
research and practical activities on AI-related priorities.
● GPAI Formation : Canada and France first proposed the GPAI at the 2018 44th G7 summit.
● GPAI was officially launched in June 2020 with fifteen founding members.
● The Organization for Economic Co-operation and Development (OECD) hosts GPAI.

Australia Hit by Tropical Cyclone Jasper, Coastal Communities Brace for Life-Threatening Floods
● Thousands of people were affected when Tropical Cyclone Jasper hit northeastern Australia.
● People in coastal areas are living without electricity and facing the crisis of floods.
● The Australian Meteorological Department stated that the cyclone has slowly reached some
areas.
● Wind speeds of up to 113 kilometres (70 miles) per hour were recorded as Tropical Cyclone
Jasper made landfall on the coast.
● A tropical cyclone is described as a low-pressure system with very high winds circulating around
it.
● These cyclones typically occur in the region between 5-35° latitude north or south of the equator.
● In Australia, tropical cyclones are colloquially referred to as "willy-willy."
About Australia :
● Prime Minister - Anthony Albanese
● Capital - Canberra
● Currency : Australian Dollar

United Kingdom to Implement Climate Levy on Imported Steel from 2027

● he United Kingdom government follows the European Union in deciding to enforce a carbon
border tax on specific commodities such as iron, steel, aluminium, ceramics, and cement, starting
in 2027.
● The tax amount will be determined by the volume of carbon emissions associated with the
production of the imported goods and the disparity between the carbon price in the UK and the
originating country.
 ● Objective of the Tax Levy : The introduction of this tax aims to ensure that carbon-intensive
products like steel and ceramics from other nations face a carbon price comparable to those
produced within the UK.
● Confidence for UK Industry: The carbon border tax is expected to instill confidence in the UK
industry to invest in decarbonization efforts, aligning with the country's commitment to
environmental sustainability.
● India's Opposition to EU's CBAM: India has expressed opposition to the European Union's
carbon border adjustment mechanism (CBAM) and has formally protested at the World Trade
Organization (WTO).
● WTO Rules and UN Framework Argument: India contends that the EU's CBAM goes against the
differentiated approach for developing countries and is inconsistent with the rules of the WTO
and the United Nations framework.
● Trade Dispute: The dispute at the WTO reflects tensions over the perceived fairness and
compatibility of carbon border measures with established international trade regulations.
● Global Policy Landscape: The UK's adoption of a carbon border tax aligns with a global trend of
countries exploring mechanisms to address carbon emissions in international trade.
About UK :
● Prime Minister: Rishi Sunak
● Capital: London
● Currency: Pound sterling

Colorado Supreme Court Rules to Exclude Donald Trump from State's 2024 Presidential Election Ballot

● The top court in the United States (US) state of Colorado ordered former US President Donald
Trump to be taken off the ballot in the state for the Presidential elections next year.
● Basis of Disqualification: The Colorado Supreme Court cited Section Three of the Fourteenth
Amendment to the United States Constitution as the grounds for disqualifying Trump from
holding the office of President.
● Section Three of the Fourteenth Amendment: The court's ruling is based on Section Three of the
Fourteenth Amendment, which states that individuals who participated in an insurrection or
rebellion are ineligible to hold public office.
 ● January 6, 2021 Attacks: The court's judgement is connected to Trump's alleged involvement in
the January 6, 2021, attacks on the US Capitol by his supporters during the certification of the
Electoral College results.
● Contestation by Trump: Donald Trump has expressed his intention to contest the ruling. The
case is anticipated to be elevated to the United States Supreme Court for further legal
consideration.
● Unprecedented Application of Section Three: This marks the first instance where Section Three
of the Fourteenth Amendment has been invoked concerning a former President.
● Limited Impact on Electoral Prospects: Even if the U.S. The Supreme Court upholds the
Colorado judgement, it would only prevent Trump from being included in the ballot in Colorado
for the 2024 election.
● Historical Context: The application of Section Three of the Fourteenth Amendment in this case is
described as a rare occurrence, highlighting the unique circumstances surrounding the events of
January 6, 2021.

GCC-South Korea sign free trade deal in boost to Gulf-Asia economic ties
● The GCC has signed a free trade agreement with South Korea to boost trade and economic
ties between the six-member bloc and Seoul.
● This is the second such trade deal signed by the GCC in recent months following an agreement
with Pakistan in September, the GCC Secretary General Jasem Al Budaiwi stated.
● The agreement is a “historic step towards achieving Gulf economic integration and towards
strengthening economic and trade relations between the two sides”, Mr Al Budaiwi stated.
● “The signing of free trade agreements with both Pakistan and South Korea, within a period of
three months … takes into account the wonderful economic position that the GCC countries have
reached,” Mr Al Budaiwi stated.
● The region is forecast to grow by 1 per cent in 2023 before rebounding to 3.6 per cent and 3.7
per cent in 2024 and 2025, respectively, the World Bank said last month.
● The UAE, the Arab world's second-largest economy, is pursuing a target of Dh4 trillion ($1.09
trillion) in foreign trade by 2031 as part of its diversification plans. It also aims to double the size
of its economy by 2030.
● The UAE's non-oil foreign trade hit a record Dh1.24 trillion in the first half of the year, up 14.4 per
cent year-on-year.
 ● It has signed deals with India, Israel, Turkey, Indonesia, Cambodia and Georgia, each of which
are designed to boost economic activity and secure supply chains. The first four agreements are
already in effect.
● The UAE is South Korea’s second-largest Arab trade partner, with bilateral non-oil trade in the
first half of the year reaching $3 billion, similar to the first half of 2022, state news agency Wam
reported.
About Gulf Cooperation Council:
● The Cooperation Council for the Arab States of the Gulf, also known as the Gulf Cooperation
Council (GCC, is a regional, intergovernmental, political, and economic
union comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
● The council's main headquarters is located in Riyadh, the capital of Saudi Arabia.
● The Charter of the GCC was signed on 25 May 1981, formally establishing the institution.
● All current member states are monarchies, including three constitutional monarchies (Qatar,
Kuwait, and Bahrain), two absolute monarchies (Saudi Arabia and Oman), and one federal
monarchy (the United Arab Emirates, which is composed of seven member states, each of which
is an absolute monarchy with its own emir).

STATE NEWS
Bihar Government Initiates Program for 25 Lakh Academically Challenged School Children
• The Bihar government will launch a programme in December 01, 2023 for nearly 2.5 million
children lagging woefully behind their peers in schools with some of them incapable of reading
simple Hindi words despite having reached upper primary classes.
• As part of the programme, 'Mission Daksh', the state Education Department has directed teachers
to intensively mentor such students, in batches of not more than five, with the "warning" that any
laxity will cause them to face action.
• The effective implementation of ‘Mission Daksh’ will be monitored by District-wise monitoring
committees led by district magistrates (DMs).
• All 25 lakh (approximately) such (academically weak) students will appear in their final
examinations in April, 2024.
About Bihar :
• Governor : Rajendra Arlekar
• Chief Minister : Nitish Kumar
 • Capital : Patna
• National Park : Valmiki National Park
• Wildlife Sanctuaries : Bhimbandh Sanctuary, Nagi Dam Bird Sanctuary, Udaypur Vanya Prani
Sanctuary
Delhi Government Set to Notify Motor Vehicle Aggregator Scheme
• Delhi Government has introduced the Delhi Motor Vehicle Aggregator and Delivery Service
Provider Scheme.
• The scheme mandates a complete transition to electric vehicles (EVs) for all cab aggregators and
delivery service providers by 2030.
• Coverage : The policy applies to all aggregators offering passenger transport services in Delhi.
• It also includes those engaged in delivery services, including e-commerce vehicles.·
• Registration and Licensing : Interested parties must register with the government within 90 days
from the date of notification.
• The licence will be valid for 5 years.
• Electric Bike Taxis : Even though the scheme made provisions to allow bike taxis again, only
electric two-wheelers will be considered valid with immediate effect..
About Delhi :
• Lt. Governor : Vinai Kumar Saxena
• Chief Minister : Arvind Kejriwal

Tamil Nadu Chief Minister Stalin Announces Establishment of Footwear Park with a Budget of Rs 400
Crore
• The Tamil Nadu (TN) government has planned to set up a footwear manufacturing park at an
outlay of Rs 400 crore on a 250-acre land.
• The industrial project would generate 20,000 new jobs in Ranipet district.
• Stalin made those comments after virtually inaugurating a footwear manufacturing facility set up at
an investment of Rs 400 crore by JR One Footwear Pvt Ltd at Eraiyur in Perambalur district, about
250-km south of Chennai.
• Through public-private partnerships, Stalin stated that the government also planned to set up
industrial parks on 50-acre land for the leather and footwear industries in TamilNadu.
About Tamil Nadu :
• Governor: R. N. Ravi
 • Chief minister: M. K. Stalin
• Capital: Chennai
• Dance : Bharatnatyam, Karakattam
• National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of
Mannar Marine National Park
• Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird
Sanctuary
• Tiger Reserve: Anamalai Tiger Reserve
• Biosphere Reserve : Agasthyamalai Biosphere Reserve

Delhi Government School Pioneers First-of-its-Kind Biodiversity Park to Foster Ecosystem Education
and Green Practices
• A Delhi government school has established the first-of-its-kind biodiversity park to promote the
ecosystem and provide students with hands-on learning experiences in agriculture, farming,
nature, and greenery.
• The biodiversity park is located at Sarvodaya Kanya Vidyalaya in Defence Colony, Delhi.
• Open to the public, people can visit the park during the winter season.
• The park features a diverse range of plant life, including native Indian flowers, various rose
varieties, an Amrapali mango tree, different types of curry leaves, lemon trees, and plants imported
from Telangana and South Africa.
About Delhi :
• Lt. Governor : Vinai Kumar Saxena
• Chief Minister : Arvind Kejriwal

Nagaland Gears Up for the Commencement of the 24th Hornbill Festival 2023 at Naga Heritage Village,
Kisama
• The 24th edition of the Hornbill Festival has commenced at Naga Heritage Village Kisama.
• The United States of America (USA), Germany, and Colombia are the Country Partners, and
Assam is the Partner State for the 24th Hornbill Festival.
• Governor of Nagaland, La Ganesan, and Chief Minister Neiphiu Rio were the Chief Guests at the
festival.
• The main hornbill stage will showcase 40 bands and acts, featuring a total of 800 artists.
 • Bands from Germany, the United States of America (USA), Colombia, and South Korea are
participating in the festival.
• For the first time, there will be an exhibition featuring Mithun and Tenyi Vo.
About Nagaland :
• Governor : La. Ganesan
• Chief Minister : Neiphiu Rio
• Capital : Kohima
• National Park : Intanki National Park
• Wildlife Sanctuaries : Fakim Wildlife Sanctuary, Puliebadze Wildlife Sanctuary, Rangapahar
Wildlife Sanctuary

Meta & Karnataka government collaborate for online safety training

• Meta, the parent company of Instagram and Facebook, has entered into a two-year partnership
with the Karnataka government with an aim to focus on digital education and online user safety for
students in Karnataka.
• The Karnataka government is working on launching a comprehensive blueprint to equip students
with digital skills, enhancing their employability.
About Karnataka :
• Governor : Thawar Chand Gehlot
• Chief Minister : Siddaramaiah
• Capital : Bangalore
• National Park : Bandipur National Park, Nagarhole National Park, Mudumalai National Park
Odisha Chief Minister Naveen Patnaik Unveils Ama Bank for Banking Services via Customer Service
Points (CSP)
• Odisha Chief Minister (CM) Shri Naveen Patnaik has inaugurated Ama Bank, a banking initiative
aimed at providing services through Customer Service Points (CSP).
• Ama Bank is part of the financial inclusion program and aims to cover 4,373 unbanked gram
panchayats in Odisha.
About Odisha :
• Governor : Ganeshi Lal
• Chief Minister : Naveen Patnaik
• Capital : Bhubaneswar
 • National Park : Bhitarkanika National Park,
• Wildlife Sanctuaries : Gahirmatha Marine Wildlife Sanctuary, Chandaka Dampara Wildlife
Sanctuary
• Ramsar Sites : Ansupa Lake, Bhitarkanika Mangroves, Chilika Lake, Tampara Lake

Uttar Pradesh Government Enters into MoUs with Council of Scientific and Industrial Research and
Defence Research and Development Organization to Advance Research in the Medical Sector
• The Yogi government in Uttar Pradesh is focusing on connecting the proposed Bulk Drugs Park in
Lalitpur with technology along with research and innovation to provide high-quality and affordable
medicines and medical devices.
• The Uttar Pradesh government has given approval for the establishment of the state's first Pharma
Park in Lalitpur district, located in Bundelkhand.
• The government has allocated a budget of Rs 1560 crore for the development and provision of
necessary facilities to investors in Lalitpur Pharma Park.
About UP :
• Governor : Anandiben Patel
• Chief Minister : Yogi Adityanath
• Capital : Lucknow
• National Park : Dudhwa National Park
• Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National
Chambal Wildlife Sanctuary

Governor of Maharashtra Introduces Five School Initiatives Aimed at Holistic Student Development
• Maharashtra Governor Ramesh Bais launches 5 school initiatives for holistic student development.
• These five futuristic initiatives include
• Chief Minister Majhi Shala Sundar Shala
• Maha Vachan Utsav
• Adopt a School Campaign
• Majhi Shala Majhi Parasbag,
• Swachata Monitor.
• These initiatives aim to develop the holistic personality of the students to ensure that future
generations are sensitive and responsible towards their environment.
About Maharashtra
• Governor: Ramesh Bai
• Chief Minister: Eknath Shinde
• Capital: Mumbai
• National Park: Tadoba National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife
Sanctuary
• UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco
Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves
Lok Sabha Discusses Jammu and Kashmir Bills for Reservation and Reorganisation
• Lok Sabha deliberated on the Jammu and Kashmir Reservation (Amendment) Bill, 2023, and the
Jammu and Kashmir Reorganisation (Amendment) Bill, 2023.
• Jammu and Kashmir Reservation Act, 2004: The Jammu and Kashmir Reservation Act, 2004 is to
be amended by the Jammu and Kashmir Reservation (Amendment) Bill, 2023.
• This Act provides for reservation in jobs and admission to professional institutions to members of
the Scheduled Castes, Scheduled Tribes, and other socially and educationally backward classes.
Assam's Royal Burial Grounds Submitted As Nomination For UNESCO Tag
• Assam's Charaideo Moidams, the royal burial mounds of the Ahom dynasty, is India's official
nomination for inclusion in the UNESCO World Heritage List for 2023-24.
• The burial mounds, characterized by pyramid-like structures called 'moidams,' were utilized by the
Tai-Ahom dynasty. This dynasty ruled Assam for approximately 600 years, spanning from the 13th
century to the 19th century.
• The government has confirmed India's nomination for consideration as a World Heritage site for
the 2023-24 cycle.
Hindu cremation rituals.
• Selection of sites or properties for World Heritage nomination depends upon its Outstanding
Universal Value (OUV), Authenticity and Integrity.
About Assam :
• Governor : Gulab Chand Kataria
• Chief Minister : Himanta Biswa Sarma
• Capital: Guwahati
• National Park: Kaziranga National Park, Manas National Park, Nameri National Park
 • Wildlife Sanctuary: Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary, Bornadi Wildlife
Sanctuary

India's 1st Telecom Centre of Excellence to come up in Uttar Pradesh's Saharanpur

• The Uttar Pradesh (UP) government has announced plans to build India’s first Telecom Centre of
Excellence in Indian Institute of Technology (IIT) Roorkee.
• According to the state government, the new centre will not just widen UP’s participation in
technology and innovation but will also propel the telecommunications sector.
• The state government has announced to shell out as much as Rs 30 crore in establishing a
research centre at IIT Roorkee in Saharanpur
• The centre will focus on the intersection of 5G technology and artificial intelligence (AI) and will lay
the groundwork for the launch of 6G technology.
About UP :
• Governor : Anandiben Patel
• Chief Minister : Yogi Adityanath
• Capital : Lucknow
• National Park : Dudhwa National Park
• Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National
Chambal Wildlife Sanctuary

Prime Minister Shri Narendra Modi Gives Green Signal to Chennai's First Urban Flood Mitigation
Project Worth ₹561.29 Crore
• Prime Minister Shri Narendra Modi sanctioned a ₹561.29 crore urban flood mitigation project for
Chennai after the impact of Cyclone Michuang in Tamil Nadu.
• The project is funded under the National Disaster Mitigation Fund (NDMF)
• The approved project is titled 'Integrated Urban Flood Management activities for Chennai Basin
Project.'
• Defence Minister Rajnath Singh with Tamil Nadu Minister for Finance & Human Resources
Management Thangam Thenarasu and Chief Secretary Shiv Das Meena also carried out an aerial
survey of areas ravaged by cyclone Michuang in-and-around Chennai.

About Tamil Nadu :

 • Governor: R. N. Ravi
• Chief minister: M. K. Stalin
• Capital: Chennai
• Dance : Bharatnatyam, Karakattam
• National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of
Mannar Marine National Park
• Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird
Sanctuary
• Tiger Reserve: Anamalai Tiger Reserve
• Biosphere Reserve : Agasthyamalai Biosphere Reserve

Lakadong Turmeric from Meghalaya Receives Geographical Indication Status

• Meghalaya's Lakadong turmeric has been awarded the Geographical Indication (GI) tag.
• It is considered to be one of the world's best varieties of turmeric, with a curcumin content of
around 6.8 to 7.5%.
• It is darker in colour and is grown organically without the use of fertilisers.
• It is found in the Lakadong area of Jaintia Hills, and has high curcumin content.
About GI Tag :
• A GI, a kind of Intellectual Property Rights (IPR), is primarily an agricultural, natural or
manufactured product (handicraft and industrial goods) originating from a definite geographical
territory.
• A GI is a label that is applied to products that have a specific geographical origin and that have
characteristics related to a particular location.
• The tag is valid for a period of 10 years after which it is renewed.
• The Geographical Indications of Goods (Registration and Protection) Act, 1999 seeks to provide
for the registration and better protection of geographical indications relating to goods in India.
About Meghalaya :
• Governor : Phagu Chauhan
• Chief Minister : Conrad Sangma
• Capital : Shillong
Telangana Chief Minister launches free bus rides for women and enhanced Aarogyasri Scheme
 • Chief Minister of Telangana, A. Revanth Reddy launched Maha Lakshmi Scheme and Rajiv
Aarogyasri Scheme enhanced to ₹10 lakh in Hyderabad.
• These two are among the six guarantees of Congress.
• The scheme allows girls, women, and transgender persons of all ages, domiciled in Telangana, to
travel free of cost in TSRTC buses.
• The Rajiv Arogyasri Scheme provides financial protection to families living below the poverty line.
• It offers up to ₹10 lakh in a year for the treatment of serious ailments requiring hospitalisation and
surgery and also financial coverage up to ₹10 lakh for high end procedures, according to the Rajiv
Aarogyasri Health Care Trust.
About Telangana:
• Capital: Hyderabad
• Governor: Tamilisai Soundararajan
• Chief minister : Anumula Revanth Reddy

Arunachal Pradesh Chief Minister Pema Khandu and US Ambassador Jointly Inaugurate 'The Hump
WWII Museum
• Arunachal Pradesh Chief Minister (CM) Pema Khandu and US Ambassador to India Eric Garcetti
inaugurated ‘The Hump WWII Museum’, the 2nd museum in Asia dedicated to the fallen airmen of
the Allied Forces during the WWII at Pasighat in Arunachal Pradesh.
• The Hump, Garcetti claimed, isn’t just a museum in some remote part of India, half the world round
from the US but already a world class museum.
• The pilots of the Allied Forces nicknamed the air-route from airfields in Assam to those in Yunnan
in China ‘The Hump’ because their aircraft had to navigate deep gorges and then quickly fly over
mountains rising beyond 10,000 feet.
About Arunachal Pradesh :
• Governor : Kaiwalya Trivikram Parnaik
• Chief Minister : Pema Khandu
• Capital : Itanagar
Gujarat Government Enters into Memorandum of Understanding with Airports Authority of India for the
Development of 11 Airports
• Gujarat, the State government has signed a memorandum of understanding (MoU) with the
Airports Authority of India (AAI) to develop 11 new greenfield airports and expand 9 existing ones.
 • Though an estimate for these projects have not been drawn, each airport is likely to cost ₹1,500-
3,000 crore.
• Ankleshwar, Morbi, Rajpipla, Botad, Dwarka, Dhordo, Rajula, Dahod, Ambaji, Dholavira and
Palitana have been identified for the development of greenfield airports.
About Gujarat
• Capital: Gandhinagar
• Chief minister: Bhupendrabhai Patel
• Governor: Acharya Devvrat
• NP: Gir National Park, Marine National Park, Velavadar National Park,
• Wildlife Sanctuary : Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary, Vansda National
Park, Purna Wildlife Sanctuary, Gaga Wildlife Sanctuary
About AAI:
• The Airports Authority of India, or AAI, is a Statutory body under the ownership of the Ministry of
Civil Aviation, Government of India.
• AAI was constituted by an Act of Parliament and came into being on 1st April 1995 by merging the
erstwhile National Airports Authority and the International Airports Authority of India.
• Headquarters: New Delhi
• Founded: 1 April 1995
• Chairman: Sanjeev Kumar

Government Approves Cheetah Breeding Center in Gujarat's Banni Grasslands

• The Central Government has granted approval for the establishment of a cheetah breeding and
conservation centre in Gujarat's Banni Grassland.
• The Gujarat government submitted a proposal for the cheetah breeding center to the National
Compensatory Afforestation Fund Management Authority under National CAMPA.
• Banni Grassland is situated along the northern border of Kachchh district in the State of Gujarat.
• Banni Grassland is recognized as one of the largest grasslands in the Indian subcontinent,
covering an extensive area of over 2500 square kilometres.
About Gujarat
• Capital: Gandhinagar
• Chief minister: Bhupendrabhai Patel
• Governor: Acharya Devvrat
 • NP: Gir National Park, Marine National Park, Velavadar National Park, Jambughoda Wildlife
Sanctuary, Barda Wildlife Sanctuary, Vansda National Park, Purna Wildlife Sanctuary, Gaga
Wildlife Sanctuary
Apple supplier Corning to build a Rs 1000 crore facility in Tamil Nadu
● Key Apple supplier and American gorilla glass maker, Corning Inc., is investing Rs 1,000 crore to
set up a manufacturing facility in Tamil Nadu (TN).
● The facility will be set up at Pillaipakkam, near Sriperumbudur, on a 25-acre plot, which can be
expanded if the need arises and will employ around 300 people.
● Corning Inc. is a Fortune 500 materials science company headquartered in New York.
● They are known as the inventors of gorilla glass, a strengthened glass widely used in portable
devices such as mobile phones, tablets, and laptops.
About Tamil Nadu :
● Governor: R. N. Ravi
● Chief minister: M. K. Stalin
● Capital: Chennai
● Dance : Bharatnatyam, Karakattam
● National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of
Mannar Marine National Park
● Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird
Sanctuary
● Tiger Reserve: Anamalai Tiger Reserve
● Biosphere Reserve : Agasthyamalai Biosphere Reserve
A first-of-its-kind Eastern Ghats Nature Interpretation Centre in Visakhapatnam
● The first-of-its-kind, Nature Interpretation Centre at the Eastern Ghats Biodiversity Centre along
the periphery of the Kambalakonda Wildlife Sanctuary in Visakhapatnam was inaugurated.
● It is located in the state of Andhra Pradesh.
● It is named after the local hillock "Kambalakonda" acting as a green lung for citizens of
Vizianagaram, is this large and sprawling sanctuary.
Uttarakhand Government Introduces India's First Himalayan AirSafari with Gyrocopters to Revolutionize
Tourism
● The Uttarakhand government is set to transform tourism by launching India's first-ever Himalayan
AirSafari using gyrocopters, compact and agile aircraft.
 ● The first trial flight of gyrocopters was successfully conducted at Bairagi Camp, Haridwar,
marking a significant milestone in the initiative.
● The Uttarakhand Tourism Development Board is collaborating with Rajas Aerosports and
Adventures Pvt Ltd to introduce gyrocopters as an innovative way for tourists to explore the
state's picturesque landscapes.
● Germany-supplied state-of-the-art gyrocopters have been procured for the Himalayan Air Safari
initiative.
● The gyrocopters will be part of the innovative Himalayan Air Safari scheme, which is aligned with
the Breakfast Tourism initiative introduced by the department.
About Uttarakhand:
● Capital: Dehradun
● Chief Minister: Pushkar Singh Dhami
● Governor: Gurmit Singh
● National Parks: Govind National Park, Nanda Devi National Park, Gangotri National Park, Rajaji
National Park, Jim Corbett National Park

Madhya Pradesh Government to Establish Prime Minister College of Excellence in Every District across
the State
● Madhya Pradesh (MP) government will set up PM College of Excellence in all districts of the
state.
● One college in every district out of a total of 570 government colleges will be upgraded by the MP
government as "PM College of Excellence".
● Financial Allocation : The government will spend more than Rs 460 crore on the development of
these colleges.
● Digital Documentation in Education : In addition to this, the degree and mark sheets of students
in all government and private universities will be uploaded in DigiLocker.
● Tendu Leaf Collection Rate Increase : The tendu leaf collection rate has been increased by the
government from Rs 3,000 per bag to Rs 4,000 per bag.
● Cyber-Tehsil System Implementation : In MP, the Council of Ministers has also decided to
implement a cyber-tehsil system in all the districts.
● Ban on Illegal Use of Loudspeakers : It has also decided to implement a ban on the illegal use of
loudspeakers at religious and other places.
About MP :
● Governor: Mangubhai C. Patel
● Chief Minister: Mohan Yadav
● Capital: Bhopal
● National Park: Satpura National Park, Kanha National Park, Bandhavgarh National Park
● Wildlife Sanctuary: Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary

PM to launch several development projects worth over 15 thousand crore rupees at Ayodhya, UP
● Prime Minister Narendra Modi will visit Ayodhya in Uttar Pradesh and launch multiple
development projects worth over 15,000 crore rupees in the state.
● Mr Modi will inaugurate the redeveloped Ayodhya Railway Station named as Ayodhya Dham
Junction Railway Station and flag off new Amrit Bharat trains and Vande Bharat trains. He will
also dedicate several other railway projects to the nation.
● The Prime Minister will inaugurate the newly built Ayodhya Airport. Mr Modi will also participate in
a public programme where he will inaugurate, delicate to the nation and lay the foundation stone
of multiple development projects worth more than 15,700 crore rupees in the state.
● These include projects worth about 11,100 crore rupees for development of Ayodhya and its
surrounding areas and projects worth about 4600 crore rupees related to other projects across
Uttar Pradesh.
About Uttar Pradesh:
● Governor : Anandiben Patel
● Chief Minister : Yogi Adityanath
● Capital : Lucknow
● National Park : Dudhwa National Park, National Chambal Sanctuary, Sariska National Park
● Wildlife Sanctuary : Bakhira Wildlife Sanctuary Bakhira Wildlife Sanctuary, Chandraprabha
Wildlife Sanctuary, Dr Bhimrao Ambedkar Bird wildlife Sanctuary, Hastinapur Wildlife
Sanctuary

12th DIVYA KALA MELA-2023 to be inaugurated in Surat, Gujarat

● Department of Empowerment of Persons with Disabilities (Divyangjan) {DEPwD), MoSJ&E, GoI
through National Divyangjan Finance and Development Corporation (NDFDC, an apex
corporation under (DEPwD) is organizing a unique event showcasing the products and
 craftsmanship of Divyang entrepreneurs/artisans from across the country, ‘Divya Kala Mela’ from
29th December 2023 – 7th January 2024 in Surat, Gujrat.
● The event would present an enthralling experience to the visitors as vibrant products from
various parts of the country including Jammu and Kashmir, North Eastern states, handicrafts,
handlooms, embroidery works and packaged food etc. will be seen together.
● This is a unique initiative towards the economic empowerment of PwD/Divyangjan.
● The Divya Kala Mela presents a bigger platform for marketing and showcasing the products and
skills of Divyangjan (PwD).
● The Divya Kala Mela, Surat is the 12th one in series starting from 2022.
● Around 100 Divyang artisans/artists and entrepreneurs from about 20 states/UTs will be
displaying their products and skills.
● It will be an opportunity for all to go ‘vocal for local’ and products made by Divyang craftsmen
with their extra determination can be seen/purchased.
About Gujarat:
● Governor : Acharya Devvrat
● Chief Minister : Bhupendrabhai Patel
● Capital : Gandhinagar
● National Park : Marine National Park, Vansda National Park, Bhavnagar Blackbuck National
Park, Gir National Park
● Wildlife Sanctuary : Shoolpaneshwar Wildlife Sanctuary, Kutch Desert Wildlife Sanctuary, Purna
Wildlife Sanctuary, Jambughoda Wildlife Sanctuary, Pania Wildlife Sanctuary

J&K Panchayati Raj Act amended to incorporate OBC reservation

● The Jammu and Kashmir administration has amended the Union Territory's Panchayati Raj Act
to incorporate reservation for Other Backward Classes (OBC), an official spokesperson stated.
● Earlier, the draft Jammu and Kashmir Panchayati Raj (Amendment) Bill, 2023 was submitted to
the Union Ministry of Home Affairs (MHA).
● The amendment bill proposes the incorporation of the definition of the OBC for providing
reservation to them, explaining the method of disqualification from the membership of a Halqa
Panchayat and suspension and removal of a sarpanch, naib-sarpanch and panch by the
government, the spokesperson stated.
 ● He added that the bill also defines the process for removal and conditions of service of the state
election commissioner (SEC) here.
About Jammu & Kashmir:
● Governor : Manoj Sinha
● Capital : Srinagar (May–October) · Jammu (November–April)
● National Park : Hemis National Park, Dachigam National Park, Kazinag National Park,
Kishtwar National Park, Salim Ali National Park

BUSINESS NEWS
Historic sale of Khadi and village industry products worth Rs 15.03 crore in India International Trade
Fair-2023
• Khadi and Village Industries Commission (KVIC), Ministry of Micro, Small and Medium Enterprises,
participated in the 42nd India International Trade Fair (IITF) – 2023 held at Pragati Maidan, New
Delhi from 14 to 27 November, 2023.
• In this international trade fair that lasted for 14 days, Khadi lovers made huge purchases in the
'Khadi Pavilion' set up in Hall No. 3.
• For the first time in the history of the KVIC, the sales figure of Khadi and village industry products
at IITF cross Historic sale of Khadi and village industry products worth Rs 15.03 crore in India
International Trade Fair-2023.
Coal production from commercial coal mines remain around 12 million tonnes in November 2023
• The Coal production from commercial coal mines remained around 12 million tonnes in November
this year, with a growth of 37 per cent compared to last year.
• Union Coal Ministry, the average daily coal dispatch from such mines is also the highest ever with
4.3 lakh tonnes per day.
• Coal production and dispatch from captive and commercial coal blocks has shown a remarkable
growth during April to November this year.
• The total coal production from these commercial coal mines during the same period was around 83
million tonnes, while the total coal dispatch was over 89 million tonnes.
GST revenue collection for November stands at around Rs 1.68 lakh crore
• The gross Goods and Services Tax, GST revenue collection in the month of November this year
stood at around one lakh 68 thousand crore rupees.
 • The revenue for the month of November is 15 per cent higher than the GST revenue in the same
month of last year and the highest for any month year-on-year during this financial year.

India's foreign exchange reserves increase by 2.538 billion US dollar to 597.935 billion US dollar
• The Reserve Bank of India (RBI), India's foreign exchange reserves increased by 2.538 billion US
dollar to 597.935 billion US dollar for the week ended 24th November.
• In the previous reporting week, the overall reserves had jumped 5.077 billion US dollar to 595.397
billion US dollar.
• reserves, increased by 2.14 billion US dollar to 528.531 billion US dollar.
• The apex bank Gold reserves were up 296 million US dollar to 46.338 billion US dollar during the
week.
• The Special Drawing Rights (SDRs) were up 87 million US dollars to 18.218 billion US dollars.
LIC stock crosses ₹700 mark after 11 months
• Following a subdued performance post listing, LIC shares experienced a notable upswing in
November, concluding with a substantial gain of 12.83%, marking the most significant monthly
increase for the stock since its debut in May 2022.
• In the previous trading session, the stock crossed the ₹700 mark after 11 months, finishing the
trade at ₹719.
• At current levels, the stock is just 4.9% away from its 52-week high of ₹754.20 apiece.
• The surge in momentum is attributed to the anticipation surrounding its new non-par product,
'Jeevan Utsav,' translating to the "celebration of life."
• LIC has introduced a new non-par product, LIC Jeevan Utsav, featuring a combination of limited
pay (5–16 years) with lifelong income.
Bharti Airtel becomes the 8th company to surpass ₹6 lakh crore Mcap
• The full market capitalisation of Bharti Airtel (partly plus fully paid-up) hit ₹6 lakh crore for the first
time on Mcap.
• Share of Bharti Airtel added another 2%, taking their year-to-date gain to 28%. In contrast, the
benchmark Nifty has gained 14.3% during the same period.
• The stock has been generating positive returns for the last five years, with 2019 being the highest.
• After a close to 60% surge in 2019, the stock of Bharti Airtel gained 12% and 37%, respectively in 2020
and 2021.
About Mcap:
 • Market capitalization refers to the total dollar market value of a company's outstanding shares of
stock.
• The investment community uses this figure to determine a company's size instead of sales or total
asset figures.

Bulls take BSE market cap to new high of $4.03 trillion

• The market capitalisation of all BSE-listed companies hitting a new high of $4.03 trillion, aided by
positive signals from the global markets and a fall in crude oil prices.
• This makes India one of the few countries with a market cap in excess of its gross domestic
product.
• The journey from $3 trillion to $4 trillion took two-and-a-half years.
• The bellwether Sensex gained 728 points to 66,902 points, with foreign portfolio investors pumping
in ₹1,786 crore.
• The Nifty was up 207 points to 20,096 points as the buying spree by both domestic and foreign
investors continued.
India’s Retail Inflation 5.55 per cent in November 2023
• The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation
(MoSPI) is releasing the All India Consumer Price Index (CPI) on Base 2012=100 and the
corresponding Consumer Food Price Index (CFPI) for Rural (R), Urban (U) and Combined (C).
• CPIs for Subgroups and Groups for both All India and all States/UTs are also being released.
• The price data are collected from selected 1114 urban Markets and 1181 villages covering all
States/UTs through personal visits by field staff of the Field Operations Division of NSO, MoSPI on
a weekly roster.
• During November 2023, NSO collected prices from 99.9% villages and 98.6% urban markets while
the market-wise prices reported therein were 90.0% for rural and 92.2% for urban.
India's IIP Growth Rate Rises to 16-Month High of 11.7% in October 2023
• The Quick Estimates of Index of Industrial Production (IIP) are released on the 12th of every month
(or previous working day if 12th is a holiday) with a six weeks lag and compiled with data received
from source agencies, which in turn receive the data from the producing factories/ establishments.
• For the month of October 2023, the Quick Estimates of Index of Industrial Production (IIP) with
base 2011-12 stands at 144.7.
 • The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for
October 2023 stand at 127.4, 141.8 and 203.8 respectively.
• These Quick Estimates will undergo revision in subsequent releases as per the revision policy of
IIP.
India’s overall exports in November 2023 is estimated at USD 62.58 Billion; an increase of 1.23 percent
over USD 61.82 Billion in November 2022
● India’s overall exports (Merchandise and Services combined) in November 2023* are estimated to
be USD 62.58 Billion, exhibiting a positive growth of 1.23 per cent over November 2022.
● Overall imports in November 2023* is estimated to be USD 67.88 Billion, exhibiting a negative
growth of (-) 6.16 per cent over November 2022.
● India’s overall exports (Merchandise and Services combined) in April-November 2023* are
estimated to be USD 499.46 Billion, exhibiting a negative growth of (-) 1.39 per cent over April-
November 2022.
Retail inflation rises to 5.55% in November
● Retail inflation increased to the three-month high level of 5.55% in November 2023, mostly due to
increasing food prices.
● October saw 4.87 per cent retail inflation based on the Consumer Price Index (CPI).
● After reaching 6.83 percent in August, inflation has been decreasing.
● Inflation in rural areas was higher at 5.85% than price increases in urban areas (5.3%).
● The National Statistical Office calculates inflation rates for 22 major States, and in November,
Odisha had the highest rate of 7.65%, followed by Rajasthan at 7% and Haryana at 6.8%.
FY 2023-24 Sees 17% Surge in Gross Direct Tax Collections
● The Ministry of Finance, that the Gross Direct Tax collections for the Financial Year 2023-24 have
registered a growth of over 17 per cent.
● The Gross Collection of Direct Taxes for the Financial year 2023-24 before adjusting refunds,
stands at over 15 lakh 95 thousand crore rupees as compared to 13 lakh 63 thousand crore in the
corresponding period of 2022-23.
● Direct Tax collections for the year 2023-24 up to the 17th of this month, show that net collections
are at 13 lakh 70 thousand crore rupees as compared to 11 lakh 35 thousand crore rupees in the
corresponding period of last Fiscal.
● It represents an increase of 20.66 percent.
India’s trade deficit shrinks to $20.58 billion in November, imports fall by 4.3%
• Trade deficit for November 2023 declined to $20.58 billion from the all-time high level of $31.5 billion
in October 2023.
• India’s goods exports declined by 2.83% in November to $33.9 billion. Imports declined by 4.33% to
$54.48 billion.
• The trade deficit for the period April–November 2023 was $166.35 billion compared with $189.21
billion during April–November 2022.
• India’s top merchandise export destinations during April-November 2023 were the US, the UAE, the
Netherlands, China, the UK, Singapore, Saudi Arabia, and Bangladesh.
• Top import sources were China, Russia, the US, the UAE, Saudi Arabia and Iraq, according to
official data.
India's logistics cost declined to 7.8-8.9% of GDP in FY22: NCAER
• The National Council of Applied Economic Research (NCAER) has made a secondary data-based
estimate of logistics cost in India.
• As per the estimate, logistics cost in India was 7.8% to 8.9% of GDP in 2021-22.
• The estimate was part of a report on the assessment of logistics costs in India by the Department for
Promotion of Industry and Internal Trade (DPIIT).
• DPIIT Secretary Rajesh Kumar released the report on logistics cost in
• India on 14 December 2023.
• It also presents a framework for long-term logistics cost calculation.
• The government had released a National Logistics Policy. It aimed at reducing logistics cost to below
10% (of GDP).
• It also aimed to improve India’s ranking in the World Bank’s Logistics Performance Index (LPI) from
38th at present to below 25.
• ADB, partnered the DPIIT in the workshop on logistics costs.

India's imports of thermal coal from the US reached a two-year high.

● Inbound shipments of thermal coal from the US increased to 1.40 million tonnes (MT), highest in
over a year.
● According to Kpler (an energy intelligence firm), India imported a total of 17.51 MT of thermal coal in
November 2023.
● This was lower than 15-month high of 18.66 MT recorded in October 2023.
● India imported 23.27 MT of seaborne coal in November 2023.
● ]As of October 2023, US is India’s second biggest supplier of coking coal after Australia. Russia is
the third biggest supplier.
● During April–October 2023, Australia remained the largest supplier of coking coal with 20.17 MT.
Coal Production Touches 664.37 Million Tonne during FY 2023-24 up to 25th December
● As per the latest statistics of the Ministry of Coal, the cumulative achievement in coal production
during FY’ 2023-24 from April 2023 to 25th December 2023, has touched 664.37 million tonne (MT),
indicating a substantial 12.29% growth compared to the corresponding period last year at 591.64
MT.
● In terms of coal dispatch, the Cumulative achievement in FY’ 2023-24 from April 2023 to 25th
December 2023 amounted to 692.84 MT, indicating a noteworthy 11.32% growth compared to the
corresponding period of the previous year at 622.40 MT.
● This increase ensures a consistent and robust coal supply to meet the energy needs of the power
sector.
● Overall coal stock position, including mines, thermal power plants (DCB), transit, etc., reached 91.05
MT, showing a commendable 21.57% growth from 74.90 MT on 25.12.22.
● Additionally, Pithead Coal Stock at Coal India Limited (CIL) on 25.12.23 stands at 47.29 MT,
demonstrating a notable growth of 53.02% compared to the coal stock of 30.88 MT on 25.12.22.
● With a commitment to continuous and comprehensive monitoring and evaluation of all operations,
the Ministry of Coal significantly contributes to this impressive growth.
● The Ministry remains unwavering in its dedication to ensuring a reliable and uninterrupted power
supply by embracing cutting-edge technological advancements, thus paving the way for a self-
reliant Atmanirbhar Bharat.
India's e-retail market estimated to cross USD 160 billion by 2028
● E-retail in India is expected to surge past USD 160 billion (over Rs 13 lakh crore) mark by 2028, a
report released by Bain & Company in collaboration with Flipkart.
● The E-retail market is expected to be around USD 57-USD 60 billion (Rs 4.75 lakh crore to 5 lakh
crore) in 2023, with an annual shopper base of around 240 million representing an annual addition of
USD 8-12 billion in 2020.
● According to the report, the majority of India's retail spend (94-95 per cent) continues to be offline,
with general trade accounting for 87 per cent of the overall retail spend.
● More than half of the total seller base hails from 7 cities, namely Delhi NCR, Surat, Jaipur, Mumbai,
Bengaluru, Hyderabad, and Kolkata

BANKING AND ECONOMY

India Records Near 5-Year High Banking Liquidity Deficit
• India's banking system liquidity deficit has widened to the highest in nearly 5 years on monthly
goods and services tax payments.
• The liquidity deficit is the amount of funds banks need to borrow from the interbank market or from
the central bank.
• Liquidity in the banking system refers to readily available cash that banks need to meet short-term
business and financial needs.
• According to the Reserve Bank of India (RBI), the liquidity deficit stood at Rs 1.74 lakh crore
($20.90 billion).
RBI and Bank of England Ink MoU for Collaboration and Information Sharing on CCIL
• The Reserve Bank of India (RBI) and the Bank of England (BoE) signed a Memorandum of
Understanding (MoU) for cooperation and information exchange regarding the Clearing
Corporation of India Ltd. (CCIL).
• Objective of the MoU : To encourage the European Securities and Markets Authority (ESMA) to
reconsider recognizing at least one of the Indian central counterparties (CCPs).
About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi Sankar

SEBI Grants Approval to Jana Small Finance Bank for IPO

• Jana Small Finance Bank, backed by TPG Capital, has received approval from the Securities &
Exchange Board of India (SEBI) for its initial public offering (IPO).
• The IPO comprises a fresh issue of equity shares worth Rs 575 crore with a face value of Rs 10
each.
• Additionally, there is an offer for sale of up to 4.05 million shares by existing shareholders and
promoters.
 • Jana Small Finance Bank, upon successful listing, will become the 7th small finance bank (SFB) to
be listed on the stock exchange.
About SEBI :
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.
About Jana Small Finance Bank :
• Commenced operations : March 28, 2018
• Headquarters : Bangalore, India
• CEO: Ajay Kanwal.
Amazon Pay Introduces Video KYC Service in Sign Language for Customers with Hearing and Speech
Impairments
• Amazon Pay has launched a video sign language Know Your Customer (KYC) service for hearing
and speech impaired customers, which involves communication through sign languages, a
pioneering initiative in the digital payments sector in India.
• The company has rolled out the initiative that enables two-way video communication in sign-
language between Amazon Pay employees and customers.
• The goal is to make the KYC process effortless for those who rely on sign language, and making
digital payments more inclusive.
About Amazon Pay :
• Founded : 2007
• Headquarters : Seattle, Washington, United States
• Amazon Pay is an online payments processing service owned by Amazon.
RBI Allows Banks to Open Current Accounts for Export Proceeds Alongside Special Rupee Vostro
Accounts
• The Reserve Bank of India (RBI) permitted banks to open additional current accounts for export
proceeds in addition to special rupee vostro accounts with a view to provide greater operational
flexibility to exporters.
 • To provide greater operational flexibility to exporters, banks maintaining a special rupee vostro
account as per the provisions of the RBI circular dated July 11, 2022 are permitted to open an
additional special current account for its exporter constituent exclusively for settlement of their
export transactions.
• In July 2022, the RBI had asked banks to put in place additional arrangements for export and
import transactions in Indian rupees in view of increasing interest of the global trading community
in the domestic currency.
About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi Sankar

Private general insurers expand market share to 53.58% in H1 FY24

• Private general insurers increased their combined market share to 53.58% in gross direct premium
underwritten in the first half of the current financial year from 50.81% in the year-ago period.
• As many as 31 insurers from the non-life industry had underwritten gross direct premiums of Rs
1.43 lakh crore in the first half of the current financial year, according to data on segment-wise
gross direct premiums up to September 2023 released by Insurance Regulatory and Development
Authority of India (IRDAI).
• Private insurers registered an annual increase of 14.86% in gross direct premiums.
• The non-life industry recorded a gross direct premium (GDP) of Rs 1,25,194 crore in the April-
September period of the previous financial year (2022-23).

Mutual Funds Allocate ₹3,000 Crore for Debt Fund Backstop Facility
• Mutual funds have set aside ₹3,100 crore as part of the Corporate Debt Market Development Fund
(CDMDF) created by the capital market regulator Securities and Exchange Board of India (SEBI)
as a backstop arrangement to bailout specified debt schemes in times of crisis in the market.
• SBI Mutual Fund will manage the funds deposited by mutual funds for the CDMDF.
• Contributions by Asset Management Companies : Asset management companies will make a one-
time contribution equivalent to 2 basis points (bps) of the Assets Under Management (AUM) of
specified debt-oriented schemes.
 • Basis for Initial Contribution : The initial contribution will be based on the AUM of specified mutual
fund schemes as of December 31, 2022.
• Background and Rationale : The decision to establish a backstop facility was prompted by market
crises, including the defaults by IL&FS and DHFL, as well as the abrupt closure of six debt mutual
fund schemes by Franklin Templeton during the Covid pandemic.

What is the Corporate Debt Market Development Fund (CDMDF)?

• CDMDF is an alternative investment fund designed to address the requirements of the corporate
debt market in India.
• It will be launched as a close-ended scheme, indicating a fixed tenure for its operation.
• CDMDF serves as a backstop facility specifically for investment-grade corporate debt securities.
• Its primary function is to provide stability and boost investor confidence in the corporate debt
market
• CDMDF provides a backstop facility of Rs 33,000 crore has been established for Mutual Funds.

RBI Grants Approval for CSB Bank Promoter to Maintain 26% Stake in the Lender
• The promoter of CSB Bank erstwhile Catholic Syrian Bank Limited in India has obtained approval
from the Reserve Bank of India (RBI) to maintain a 26% stake in the bank.
• Initially advised by the RBI to reduce their stake to 15%, the promoter has now been allowed to
retain a higher stake of 26%.
About CSB Bank :
• Founded : 26 November 1920
• Headquarters : Thrissur, Kerala, India
• MD & CEO : Pralay Mondal

Insurance Ombudsman Resolves 92% of Complaints in FY23

• The insurance ombudsman disposed of over 92% of the complaints it received from the insured
during 2022-23.
• It received 55,946 complaints during the year across its offices in the country, of which 51,625
were disposed of.
• The Delhi centre disposed of all the 5,257 complaints it got during the year, according to a press
statement issued by the Delhi office of the Insurance Ombudsman.
 • The offices of the Insurance Ombudsman are under the administrative control of the Council for
Insurance Ombudsman (CIO).

Global bank ranking removes Unicredit and moves up UBS, China banks
• The Financial Stability Board removed Italy's UniCredit from its list of Global Systemically
Important Banks (G-SIBs) and moved 3 banks up a category.
• The identification process for G-SIBs involves collaboration between the Financial Stability Board
(FSB), the Basel Committee on Banking Supervision (BCBS), and national authorities.
• The Financial Stability Board (FSB) is an international body that monitors and makes
recommendations about the global financial system.
To promote international financial stability by coordinating with national financial authorities and
international standard-setting bodies.
• Its decisions are not legally binding on its members, as it operates by moral suasion and peer
pressure, in order to set internationally agreed policies and minimum standards.

BharatPe Achieves Ebitda Positivity for the First Time in October, Achieves Annual Recurring Revenue
(ARR) of Rs 1,500 Crore
• Fintech major BharatPe turned Ebitda-positive in October and clocked an annualised revenue of
Rs 1,500 crore, up 31% from the year-ago period, on the back of a significant growth in lending
and payments business.
• The company also reduced its cash burn, which was averaging Rs 60 crore a month in FY23, to
attain a positive Ebitda.
• EBITDA, or earnings before interest, taxes, depreciation, and amortization, is an alternative
measure of a company's overall financial performance.
About BharatPe :
• Founded : 2018
• Headquarters : New Delhi, Delhi, India
• CEO: Nalin Negi
• BharatPe is an Indian fintech company that sells digital payment and financial services to small
merchants and Grocery stores

Tata AIG General Insurance Company Launches 'Health Supercharge' for Comprehensive Well-being
Coverage
• TATA AIG General Insurance Company Limited introduced “Health Supercharge" with the aim of
offering a fivefold enhancement in health insurance coverage, addressing the dynamic nature of
health-related uncertainties.
• The new plan caters to the healthcare needs of families residing in Tier I to Tier IV locations,
ensuring inclusivity across various geographical segments.
• Tata AIG Health Supercharge offers a sum insured ranging from ₹5 lakhs to ₹20 lakhs.
About TATA AIG General Insurance Company :
• Established : 2001
• Headquarters : Mumbai, Maharashtra
• MD & CEO : Neelesh Garg
• Tata AIG General Insurance Company Limited is an Indian general insurance company and a joint
venture between the Tata Group and American International Group (AIG).
• Tata Group holds a 74% stake in the insurance venture with AIG holding the balance of 26%.

LIC Launches New Whole Life Insurance Policy 'Jeevan Utsav

• Life Insurance Corporation of India (LIC), has launched a new individual, savings, and Whole Life
Insurance plan called Jeevan Utsav.
• The Plan is a Non-Linked, Non-Participating Plan.
• Consider the following points before opting for the policy.
• Policy Eligibility : This plan is available for age starting from 90 days to 65 years.
• It gives guaranteed lifelong income and lifelong risk cover.
• Premium Payment Terms : The minimum premium paying term is 5 years and the maximum
premium paying term is 16 years
About LIC :
• Established : 1956
• Headquarters : Mumbai, Maharashtra
• Chairman : Siddharth Mohanty

ADB Approves $500 Million Loan for Healthcare and Medical Education in Maharashtra
 • The Asian Development Bank (ADB) has approved a loan package worth USD 500 million to
improve access to quality and affordable tertiary health care and medical education in
Maharashtra, India.
• ADB has been working with the state government of Maharashtra to achieve its vision of providing
affordable and accessible tertiary health care to all by 2030 and strengthening quality and
professional medical practitioners.

About ADB :
• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa
• Membership : 68 members, including 49 regional members (countries in Asia and the Pacific) and
19 non-regional members (countries outside the region)

Asian Development Bank Commits USD 170 Million to Transform Kochi's Water Landscape
• The Asian Development Bank (ADB) has approved a significant loan of USD 170 million for the
modernization of water supply services in Kochi, Kerala.
• Objective of the Loan : To modernize water supply services, elevate urban living standards, ensure
access to clean water, and enhance climate resilience in Kochi.
• ADB's intervention is particularly crucial due to Kerala experiencing severe dry spells and
droughts, notably in 2016, which significantly impacted water availability in the region.
• The ambitious project involves the rehabilitation and upgrade of 5 existing water treatment plants.
• The project will rehabilitate and upgrade five existing water treatment plants that have a cumulative
production capacity of 325 million litres per day (MLD), as well as build a new plant with 190 MLD
capacity.

S&P Global Study: LIC Ranks as the Fourth-Largest Insurer Globally by Reserves
• Insurance behemoth Life Insurance Corporation of India (LIC) is the fourth largest insurer in the
world, according to a ranking based on life and accident & health reserves of companies in 2022
by S&P Global Market Intelligence.
• LIC follows Allianz SE, China Life Insurance Company, and Nippon Life Insurance Company in
global rankings.
 • According to the report, LIC’s reserves stood at $503.7 billion.
• Germany’s Allianz SE ($750.20 billion), China Life Insurance Company ($616.90 billion) and
Nippon Life Insurance Company ($536.80 billion) are the top three insurance companies in the
world.
About LIC:
• Established: 1st September 1956
• MD: Siddhartha Mohanty
• Headquarters: Mumbai, India
SBI Card joins Bharat BillPay in the credit card category
• NPCI Bharat BillPay Ltd. (NBBL), the wholly-owned subsidiary of the National Payments
Corporation of India (NPCI), announced that it has on-boarded SBI Card, under the credit card
category of Bharat BillPay.
• Aim : To simplify the way customers manage their credit card bill payments by providing them
better convenience and accessibility.
• The other major credit card issuers under this category are Kotak Mahindra Bank, BoB Financial,
Federal Bank, AU Small Finance Bank, IndusInd Bank, and Canara Bank.
About NPCI :
• National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella
organisation for operating retail payments and settlement systems in India.
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Dilip Asbe
• It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the
provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment &
Settlement Infrastructure in India.
RBI Monetary Policy : Repo rate kept unchanged at 6.5%, FY24 GDP estimate hiked to 7%
• The Reserve Bank of India's Monetary Policy Committee (MPC) kept the repo rate unchanged for
the fifth time in a row at 6.5%.
• The real GDP growth projection for the fiscal year 2023-24 has been revised upward to 7% from
the previous estimate of 6.5%.
• The inflation forecast for the fiscal year 2023-24 remains unchanged at 5.4%.
• The policy repo rate under the liquidity adjustment facility (LAF) has been kept steady at 6.50%.
 • The standing deposit facility (SDF) rate is maintained at 6.25%, and the marginal standing facility
(MSF) rate, along with the Bank Rate, remains at 6.75%.
About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi Sankar

RBI Increases UPI Payment Limits for Hospitals and Educational Institutions to Rs 5 Lakhs per
Transaction, Up from Rs 1 Lakh
• The Reserve Bank of India (RBI) has increased the transaction limits for United Payments
Interface (UPI) payments for hospitals and educational institutions from Rs 1 lakh to Rs 5 lakhs per
transaction.
• The decision was announced by RBI Governor Shaktikanta Das during the bi-monthly Monetary
Policy Committee (MPC) meeting.
• The higher UPI payment limits aim to assist consumers in making transactions of larger amounts
for educational and healthcare purposes.
• The RBI has also proposed to enhance the limits of e-mandates for recurring online transactions to
Rs 1 lakh per transaction from Rs 15,000 per transaction for mutual fund subscriptions, insurance
premium subscriptions, and credit card repayments.
• The transaction limit for UPI payments for capital markets (AMC, broking, mutual funds, etc.),
collections (credit card payments, loan repayments, EMI), insurance, etc. was limited to Rs 2 lakh.

RBI to Develop Regulatory Framework for Oversight of Loan Aggregators

• The Reserve Bank of India (RBI) announced that it will soon release a regulatory framework aimed
at overseeing web-based loan comparison platforms known as web-aggregators of loan products
(WALP).
• WALP offers the service of aggregating loan offers from multiple lenders on an electronic platform
which allows borrowers to easily compare different offers and choose the most suitable loan option
available from the participating lenders.
• Objective of the Framework : The RBI aims to create a structured system for loan aggregation
services provided by lending service providers (LSPs).
 • The framework aims to enhance transparency in the operations of WALPs or digital lending.
• It focuses on increasing customer centricity and enabling borrowers to make informed choices.

RBI Announces Plans to Set Up Cloud Facility for the Financial Sector to Strengthen Data Security
• The Reserve Bank of India (RBI) is actively working on establishing a dedicated cloud facility for
the financial sector in India
• The primary objective of the proposed cloud facility is to significantly enhance the security,
integrity, and privacy of data within the financial sector.
• The cloud facility will be set up and initially operated by Indian Financial Technology & Allied
Services (IFTAS), a wholly-owned subsidiary of RBI.
• Over time, the cloud facility will be transitioned to a separate entity, with ownership vested in
financial sector participants.
RBI Permits Reversal of Liquidity Facilities under Standing Deposit Facility and Marginal Standing
Facility on Weekends and Holidays
• The Reserve Bank of India (RBI) has decided to allow the reversal of liquidity facilities under both
SDF (standing deposit facility) and MSF (marginal standing facility) even during weekends and
holidays with effect from December 30, 2023, to address the situation arising out of simultaneous
high utilisation of both these facilities by banks .
• This move is expected to facilitate better fund management by the banks
• At present, the standing facilities of the Reserve Bank under the LAF (liquidity adjustment facility) –
the SDF and the MSF – can be availed from 17:30 hours to 23:59 hours on all days including
weekends and holidays.

DICGC report: Banks witness drop in insured deposits

• The ratio of insured deposits to assessable deposits in the banking system declined to 46.31% in
FY2023 from 49% in FY2022 as customers, lured by attractive deposit rates, placed larger
deposits (over and above the Rs 5 lakh deposit insurance cover) with banks, going by latest
Deposit Insurance and Credit Guarantee Corporation (DICGC) data.
• This means that bank customers preferred to place larger quantum (Rs 5 lakh and above) of
deposits (accounting for 53.69% of the deposits by value), which remained uninsured.
• In the preceding year, 51% of the deposits were uninsured.
• Deposit insurance cover is available on deposits up to Rs 5 lakh.
About DICGC :
• Founded: 1978
• Headquarters: Mumbai,Maharashtra, India
• Chairperson: Michael Patra
• Deposit Insurance and Credit Guarantee Corporation is a specialised division of Reserve Bank of
India which is under the jurisdiction of Ministry of Finance, Government of India.

Aditya Birla Health Launches 'Activ One' Product Offering 100% Returns
• Aditya Birla Health Insurance Company Limited (ABHICL), the health insurance division of Aditya
Birla Capital, a prominent and diversified financial services provider in India, has introduced ‘Activ
One.’
• This streamlined and all-encompassing health insurance plan is designed to offer policyholders
personalised solutions, addressing not only their health insurance requirements but also fostering
their journey towards optimal well-being.
• Packed with cutting-edge features like complete health returns, claim protection, no sub-limits,
super reload, and super credit, Activ One stands as ABHICL’s most extensive offering to date.
• This all-inclusive product provides customers with a singular solution for both their health
assurance and health insurance requirements.

28 Virtual Digital Asset Platforms Successfully Register with FIU-India to Ensure Compliance with
PMLA Norms
• As many as 28 Virtual Digital Assets (VDA) service providers, including WazirX, Coin DCX and
Coin Switch, have registered themselves with the Financial Intelligence Unit-India (FIU-IND).
• The Finance Ministry in March, 2023 had stated that entities dealing in VDAs, crypto
exchanges and intermediaries would be considered "reporting entities" under the Prevention of
money laundering Act (PMLA).
• Accordingly, crypto exchanges and intermediaries dealing with VDAs were required to perform
KYC of their clients and users of the platform.
• 28 entities have registered themselves for providing services related to VDAs.
Asian Infrastructure Investment Bank and United Nations Development Programme Ink Memorandum
of Understanding to Advance Sustainable Infrastructure Development
• The Asian Infrastructure Investment Bank (AIIB) and the United Nations Development Programme
(UNDP) have signed a Memorandum of Understanding (MoU) to strengthen collaboration in
promoting sustainable infrastructure development and address development challenges in Asia
and beyond.
• AIIB is a multilateral development bank whose mission is financing the “Infrastructure for
Tomorrow,” infrastructure that is inclusive and sustainable socially, environmentally and
economically.
• UNDP partners with people at all levels of society to help build nations that can withstand crises,
and drive and sustain the kind of growth that improves the quality of life for everyone.
About AIIB :
• Founded : 16 January 2016
• Headquarters : Beijing, China
• President : Jin Liqun
• Membership : 109 member states
• The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission
is financing the Infrastructure for Tomorrow infrastructure with sustainability at its core.
About UNDP :
• Established: 22 November 1965
• Headquarters: New York, United States
• Administrator : Achim Steiner
• The UNDP is a United Nations agency tasked with helping countries eliminate poverty and achieve
sustainable economic growth and human development.
• It was founded with the merging of the United Nations Expanded Programme of Technical
Assistance (EPTA) and the Special Fund.

SEBI Extends Deadline for Integration of SCORES with Online Dispute Resolution Platform to April 1,
2024
• The Securities and Exchange Board of India (SEBI) has extended the timeline for implementation
of linking SEBI Complaint Redressal (SCORES) with the online dispute resolution platform to April
1, 2024.
• Earlier, the deadline for linking both the platforms was December 4, 2023.
 • The market entities need to keep submitting the Action Taken Report (ATR) on
SCORES within 21 calendar days from the date of receipt of the complaint.
• In September,2023 the capital market regulator had issued a circular saying that market entities
will need to apply for SCORES authentication and for Application Programming Interface (API)
integration.
About SEBI :
• Established: 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters: Mumbai, Maharashtra
• Chairman: Madhabi Puri Buch
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance, Government of India (GoI).

UPI Transaction Value Hits Record ₹17.4 Lakh Crore in November 2023
• Unified Payments Interface (UPI) transaction value reached a new high level at ₹17.4 lakh crore in
November 2023.
• UPI transaction volume declined slightly to 1,124 crore from 1,141 crore in October.
• UPI transaction value was ₹17.16 lakh crore in October.
• UPI transactions fell slightly by 1.5% to 1,124 crore from 1,141 crore in October.
About UPI :
• Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single
mobile application.
• It is developed by the National Payments Corporation of India (NPCI).
• It was introduced in April 2016.

Ministry of Finance Reports Banks Writing Off ₹10.6 Lakh Crore in the Last 5 Years
• The government informed the Lok Sabha that in the last five years, Scheduled Commercial Banks
(SCBs) wrote off nearly Rs 10.6 lakh crore, with almost half of this amount belonging to large
industrial houses.
• Half of the written-off amount, approximately 50%, is attributed to large industrial houses.
• Defaulted Borrowers and Outstanding Amount : Nearly 2300 borrowers, categorised as wilful
defaulters, defaulted on around Rs 2 lakh crore.
 • These borrowers are having a loan amount of Rs 5 crore or more.

ICICI Lombard Unveils MaxProtect, the Newest Addition to its Customer-Centric Product Portfolio
• ICICI Lombard has introduced MaxProtect, the latest addition to its range of customer-focused
products.
• Tailored to align with the dynamic lifestyles of customers, MaxProtect aims to deliver
comprehensive coverage at a competitive price.
• This product is designed to provide a cost-effective, inflation-adjusted solution to address the
healthcare requirements of both individuals and families.
• MaxProtect offers a choice between two customer-centric insurance plans.
About ICICI Lombard General Insurance Company Limited :
• Founded : 2001
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sanjeev Mantri
Government of India and Asian Development Bank sign $175 million loan to improve connectivity in
Madhya Pradesh
• The Government of India and the Asian Development Bank (ADB) signed a $175 million loan to
improve connectivity and resilience of roads in the state of Madhya Pradesh.
• The signatories to the loan agreement for the Enhancing Connectivity and Resilience of the
Madhya Pradesh Road Network Project were Ms. Juhi Mukherjee, Joint Secretary, Department of
Economic Affairs, in the Ministry of Finance, for the Government of India, and Takeo Konishi,
Country Director of ADB’s India Resident Mission, for ADB.
• This project will enhance connectivity in the state road network in 14 districts to enable balanced
economic development in Madhya Pradesh.
About Ministry of Finance :
• Cabinet Minister : Nirmala Sitharaman
• Minister of State : Bhagwat Karad, Pankaj Choudhar
About ADB :
• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa
 • Membership : 68 members, including 49 regional members (countries in Asia and the Pacific) and
19 non-regional members (countries outside the region)

ADB Grants $98 Million Loan to Enhance Access to Disease-Free Planting Materials for Horticulture
Crop Farmers in India
• The Asian Development Bank (ADB) has approved a $98 million loan to improve horticulture crop
farmers’ access to certified disease-free planting materials, which will boost their crops’ yield,
quality, and resilience to climate impacts.
• This project supports India’s agricultural transformation.
• ADB’s financing will support the Government of India’s Atmanirbhar Clean Plant Program (CPP),
which was announced in February 2023 to establish clean plant centers and a certification scheme
that will ensure farmers can purchase disease-free planting materials from private nurseries.
JICA Commits Up to $1.5 Billion for ADB-Administered LEAP 2 Fund to Bolster Infrastructure in Asia
and the Pacific
• The Asian Development Bank (ADB) and Japan International Cooperation Agency (JICA) have
agreed to launch a new fund aimed at boosting private infrastructure in the Asia-Pacific, where
China is making inroads with its investments.
• The organisations stated that the new fund, named Leading Asia's Private Infrastructure Fund 2
(LEAP 2), would have capital of up to $1.5 billion provided by JICA, serving as the successor fund
to LEAP.
• The launch, a symbol of ties between Japan and developing Asia, comes a week ahead of summit
meetings between Japanese Prime Minister Fumio Kishida and the leaders of the Association of
Southeast Asian Nations (ASEAN).
About ADB :
• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa
• Membership : 68 members, including 49 regional members (countries in Asia and the Pacific) and
19 non-regional members (countries outside the region)
About Japan International Cooperation Agency :
• Headquarters : Chiyoda, Tokyo, Japan
• President : Akihiko Tanaka
SEBI's Proposal to Reduce NCD Face Value from ₹1 Lakh to ₹10,000
• The Securities and Exchange Board of India (SEBI) proposed to permit companies to issue non-
convertible debentures (NCDs) and non-convertible redeemable preference shares (NCRPS) with
the face value of Rs. 10,000 as against the current system of Rs one lakh face value.
• According to a SEBI consultation paper, the measure aims to enhance the participation of non-
institutional investors in the corporate bond market coupled with mitigation and management of risk
to safeguard and protect the interest of such non-institutional investors.
• SEBI, in the agenda ‘Introduction of Regulatory Framework for Online Bond Platforms’ placed
before the Board in the meeting held on September 30, 2023 approved the proposal to reduce the
face value from Rs 10 lakh to Rs 1 lakh.
• The SEBI has also proposed a framework for the issuance of subordinate units in Real Estate
Investment Trusts (Reits) and Infrastructure Investment Trusts (InvITs) to sponsors, sponsor
groups, and associates.
About SEBI :
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

RBI Permits Regulated Entities to Utilize HDFC Bank-Crunchfish AB's Offline Payments Solution
• The Reserve Bank of India (RBI) has approved an 'Offline Retail Payments' product developed by
HDFC Bank, in partnership with Crunchfish AB, for adoption by banks and other financial
institutions.
• Under the 'On Tap' application facility for the theme 'Retail Payments' of the Regulatory Sandbox
(RS), HDFC Bank (in partnership with Crunchfish AB) was selected for the Test Phase.
• In February,2023 HDFC Bank launched the pilot, in partnership with Crunchfish, to test offline
digital payments for merchants and customers after the regulator in September 2022 selected the
entity under the 'On Tap' application facility for the theme 'Retail Payments' of the Regulatory
Sandbox to conduct a 'test phase' of the product.
 • HDFC Bank had stated that it would roll out this service as part of a limited pilot for four months in
over 16 cities and towns across India.

About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi Sankar

Bank of India Introduces Nari Shakti Savings Account

• Bank of India (BoI) has launched an exclusive savings bank product for women (Nari Shakti
Savings Account) with an independent source of income.
• To provide them with enhanced privileges and features to support their financial empowerment.
• Personal accident insurance cover: This account comes with a comprehensive personal accident
insurance cover of up to Rs. 100 lakhs, ensuring the safety and security of women account
holders.
• Discounted health insurance and wellness products: Women holding the Nari Shakti Savings
Account can avail attractive discounts on health insurance and wellness products, promoting their
overall well-being.
About Bank of India :
• Founded : 7 September 1906
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Rajneesh Karnatak

Universal Sompo General Insurance Unveils "Muskaan" - a Socially Impactful Health Insurance Policy
for Domestic Workers and Staff
• Universal Sompo General Insurance introduced “Muskaan", an innovative health insurance policy
carefully designed to create a positive social impact and uplift domestic workers and staff.
• Muskaan stands as a specialised health insurance offering dedicated support to domestic workers,
providing them with effortless access to comprehensive coverage for medical needs and
assistance in the event of an accident.
 • It provides extensive coverage under Section 1 (Health), encompassing in-patient treatment, pre-
hospitalisation, post-hospitalisation, domiciliary treatment, and AYUSH treatment.
• Additionally, Section 2 (Personal Accident) offers comprehensive coverage for accidental death
and permanent total disability.

IDFC FIRST Bank and Mastercard Unveil the FIRST SWYP Credit Card
• IDFC FIRST Bank has introduced a youth-centric “FIRST SWYP” credit card in partnership with
Mastercard.
• The card will address demands of new-age customers, blending benefits across their favourite
categories of spends and lifestyle-related offers and innovative propositions.
• The new card is the Bank’s second youth-focussed credit card.
• It had earlier launched “FIRST Millennia Credit Cards”.
About IDFC First Bank :
• Founded : October 2015
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : V. Vaidyanathan
• IDFC FIRST Bank is an Indian private sector bank formed by the merger of the banking arm of
Infrastructure Development Finance Company and Capital First, an Indian non-bank financial
institution.
• It is the first universal bank to offer monthly interest credit on savings accounts, lifetime free credit
cards with dynamic and low annual percentage rates.
About Mastercard :
• Established : 1966
• Headquarters : New York, United States
• CEO : Michael Miebach
• Mastercard Inc. is the second-largest payment-processing corporation worldwide. It offers a range
of payment transaction processing and other related-payment services.

HDFC Bank, Axis Bank, and AU Small Finance Bank Embrace FICO Platform as Early Adopters
• Globally renowned data analytics company FICO has commenced operations in India, establishing
collaborations with leading financial institutions, including HDFC Bank, Axis Bank, and AU Small
Finance Bank.
 • HDFC Bank, Axis Bank, and AU Small Finance Bank are utilizing the FICO platform to undergo
digital transformations in various financial processes, such as those related to home loans, credit
cards, and auto loans.
• FICO emphasizes the efficiency of its cloud-based platform, enabling swift loan approvals within
seconds, reflecting the integration of advanced technology to streamline lending operations.
• Vishal Goyal, the Country Director for India at FICO, underscores that the FICO analytics platform
has the potential to enhance approval rates for lenders.
ACKO Partners with PhonePe to Facilitate Insurance Accessibility for Millions
• ACKO General Insurance and PhonePe have collaborated to provide a range of inclusive car and
bike insurance products directly to users through the PhonePe platform.
• This strategic partnership combines ACKO’s customer-centric approach with PhonePe’s extensive
distribution network, ensuring convenient access to insurance as a readily available financial option
for PhonePe users.
• In addition, this partnership will witness ACKO expanding its product range to encompass health
insurance and various other lines in the coming years.
About ACKO General Insurance :
• Founded : 2016
• Headquarters : Mumbai, Maharashtra, Indi
• CEO : Sanjeev Srinivasan

RBI Increases Unified Payments Interface Automatic Payment Limit to Rs 1 Lakh

● The Reserve Bank of India (RBI) increased the limit for automatic payments through Unified
Payments Interface (UPI) to Rs 1 lakh per transaction from the existing Rs 15,000 for certain
categories, including subscription to mutual funds.
● As of now, relaxation in Additional Factor of Authentication (AFA) is permitted while processing e-
mandates/standing instructions on cards, prepaid payment instruments and UPI (Unified
Payments Interface), for subsequent recurring transactions with values up to Rs 15,000.
● UPI has emerged as a preferred mode of payment for a large section of the population with over
11.23 billion transactions recorded in November, 2023.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
 ● Governor : Shaktikanta Das
● Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi
Sankar
Poonawalla Housing Finance undergoes rebranding, emerges as Grihum Housing Finance
● Following a change in ownership, Poonawalla Housing Finance has been rebranded as Grihum
Housing Finance with global private equity firm TPG now holding 99.02 per cent stake in the
housing finance company.
● Before being promoted by Poonawalla Fincorp, the housing financier was a part of the Magma
Group.
● The new name, Grihum, is a fusion of ‘Grih’ (home) and ‘Hum’ (togetherness), reflecting the
company’s commitment to fostering collaboration and unity.
● The company, which has seen a compound annual growth rate (CAGR) of 28% in its Assets
Under Management (AUM) during the last six years, expects to continue that trend and touch an
AUM of Rs 11,000 crore by March 2025.
● Currently, the AUM of the firm stands at approximately Rs 7,500 crore.
● Speaking on fund-raising plans, the company plans to raise around Rs 2,500 crore in order to
boost the growth of AUM through banks, Non-Convertible Debentures (NCDs), and other
multilateral agencies.
● MD and CEO of Grihum Housing Finance : Manish Jaiswal
Reliance Industries Collaborates with DBS Bank for Financing Program for Compressed Biogas (CBG)
Plants
● Reliance Industries Limited (RIL) and DBS Bank India have collaborated to establish a financing
programme customised to the requirements of the compressed biogas project initiated by RIL.
● The financing initiative aims to support the ecosystem development for vendor partners involved
in aggregating agri-residue as inputs for Reliance's CBG production plants across India.
● At Reliance's 46th annual general meeting (AGM), Chairman Mukesh Ambani had informed that
the company targets to establish 100 compressed biogas (CBG) plants in the next 5 years,
consuming 5.5 million tonnes of agro-residue and organic waste.
● The CBG plants are expected to mitigate nearly 2 million tonnes of carbon emissions annually
and produce 2.5 million tonnes of organic manure.
About DBS Bank Limited :
● Established : 16 July 1968
 ● Headquarters : Singapore
● CEO : Piyush Gupta
Finance Ministry Allocates Rs 10,000 Crore as Urgent Aid for National Rural Employment Guarantee
Scheme (NREGS)
● The finance ministry has released ₹10,000 crore in urgent assistance to meet unexpected
enhanced expenditure under the rural job guarantee scheme until the first batch of
supplementary demands for grants is approved by parliament at its next session.
● The unusual move came after 95% of the FY24 budgetary outlay of ₹60,000 crore for the
Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) was exhausted
well before the commencement of the winter session of parliament.
● The urgent funds, released last week to the rural development ministry, will form a part of the
additional ₹28,000 crore that could be allocated for the scheme in the first batch of
supplementary demands for grants for FY24.
About Ministry of Finance :
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Bhagwat Karad, Pankaj Choudhary
CoinSwitch introduces the overarching brand PeepalCo, targeting expansion in wealth technology
● Cryptocurrency platform CoinSwitch has unveiled PeepalCo, a new umbrella brand to house all
its business segments, as it plans to expand into a wealth-tech platform.
● PeepalCo will house CoinSwitch, the crypto retail app, and CoinSwitch PRO, the advanced
trading platform, soon-to-be-launched platform with newer investment classes and wealth-
management division catering to high net worth Individuals (HNIs).
● The unicorn is backed by multiple investors including Andreessen Horowitz (a16z), Tiger Global,
Peak XV Partners (was Sequoia Capital India), Ribbit Capital, Paradigm and Coinbase Ventures.
Federal Bank Named "Bank of the Year India " by The Banker Financial Times
● Federal Bank, a leading financial institution, has been recognised as "Bank of the Year (India)"
by Financial Times owned The Banker, one of the only three global awards that considers the
work of banks spanning 120 countries.
● This prestigious recognition is a testament to the Bank's unwavering commitment to innovation,
customer-centric services, and its outstanding contributions to the banking industry over the past
year.
● One of the standout initiatives that garnered attention was the introduction of the Digital Personal
 Loan by Federal Bank.
● Recognizing the challenges faced by customers in rural areas in accessing banking services,
Federal Bank launched the 'Bank on the Go' initiative.
● Federal Bank has also embraced cutting-edge technology to enhance customer support,
introducing "Feddy", an artificial intelligence-powered chatbot.
About Federal Bank :
● Headquarters : Aluva, Kochi, Kerala, India
● MD & CEO :Shyam Srinivasan
● Tagline : your perfect banking partner.
iVIS Collaborates with ICICI Bank to Enhance Security through Advanced E-Surveillance Services
● iVIS, a subsidiary of Magellanic Cloud, has announced its empanelment with ICICI Bank for the
delivery of e-surveillance services across branches.
● This strategic collaboration enables iVIS to offer AI/ML and IoT technology-enabled e-
surveillance services, which will include real-time video monitoring and recording, facial
recognition, incident detection, reporting, and data analytics.
About ICICI Bank :
● Founded : 5 January 1994
● Headquarters : Mumbai, Maharashtra
● MD & CEO : Sandeep Bakhshi
Intellect Secures ₹80-Crore Agreement with Indian Bank for Implementation of Cash Management
System
● Intellect Design Arena Limited, the Chennai-based FinTech company for financial and insurance
clients, has signed a ₹80 crore, 5-year deal with Indian Bank to deploy Intellect’s eMACH.ai
powered Cash Management System.
● The partnership is a pivotal moment - adding another feather to Intellect’s growing footprint in the
Indian BFSI industry, rendering the capabilities of a cognitive enterprise for revolutionising
transaction banking.
● As part of the project ‘INDLEAP’, the Indian Bank has taken on the objective of digital
transformation by leveraging technology wherever possible with transaction banking and supply
chain management being the key growth engines.
About Indian Bank :
● Founded : 15 August 1907
 ● Headquarters : Chennai, Tamil Nadu
● MD & CEO : Shanti Lal Jain
● Tagline : Your Own Bank/ Apka Apna Bank
India, ADB sign $200 million loan agreement for Uttarakhand power system project
● India and ADB have signed a $200 million loan agreement with Uttarakhand for the Power
System Project.
● This loan agreement is to improve the quality, efficiency, and reliability of power supply in
Uttarakhand.
● This loan agreement is for the Uttarakhand Climate Resilient Power System Development
Project.
● The Asian Development Bank (ADB) will fund the project.
● This will strengthen the power system infrastructure in Uttarakhand.
● The project involves enhancing the power system network’s capabilities.
● The project will modernise Dehradun city’s power network infrastructure.
● The Japan Fund for Prosperous and Resilient Asia and the Pacific will provide a $2 million grant
to support livelihood enhancement, and training activities of the project.
Weighted average cut-off yield of State Govt Security issuances rose 73 bps during FY23: RBI report
● The weighted average cut-off yield of State Government Security issuances increased to 7.71%
as per RBI report.
● The RBI report is titled “State Finances: A Study of Budgets of 2023-24”.
● As per the report, the weighted average cut-off yield of State Government Security issuances
increased 73 basis points (bps) during 2022-23 from 6.98% in the previous year.
● The weighted average spread (WAS) between SGS issuances and comparable-maturity Central
government securities, however, decreased from 41 basis points to 31 basis points in 2022–
2023.
● The next ten years will see the maturation of almost 79% of SGS.
● According to the report, this increase was concentrated in states like Andhra Pradesh, Gujarat,
Himachal Pradesh, Madhya Pradesh, Haryana and Assam.
SBI to sign 70 million euro LoC with KfW for solar projects
● SBI signed a 70 million euro (approximately Rs 630 crore) Line of Credit (LoC) with KfW.
● The LoC with German Development Bank KfW is for promoting solar projects in the country.
● The agreement was signed on 14 December at the bank’s IFSC Gift City Branch in Ahmedabad.
 ● LoC aims to support Solar Photovoltaics (PV) projects in India.
● SBI has shown a 9.13% growth in consolidated net profit for the September quarter.
● It reported a total income of more than Rs 1.12 lakh crore for September quarter.
PNB Housing Finance completes Rs 1,000 cr loan bookmark under its affordable housing scheme
● PNB Housing Finance, the third largest housing finance company in India, announced that it has
achieved a loan book size of Rs 1,000 crore in the affordable housing segment.
● It said that under its Roshni scheme for affordable housing, it aims to double the loan book by
March 2025.
● The scheme was launched in December last year.
● Girish Kousgi, managing director and chief executive officer at PNB Housing Finance.
● Under the Roshni scheme, the company provides loans for ticket sizes in the range of Rs 5 lakh
to Rs 35 lakh.
YES Bank invites bids for the sale of corporate, retail NPAs worth ₹4,234 cr
● YES Bank has invited expressions of interest (EoI) for the proposed sale of NPAs worth ₹4,234
crore.
● Bids have been invited to identify an anchor bid for the stressed assets sale, all of which are
being offered on an upfront 100 per cent cash basis.
● YES Bank has invited bids for the sale of stressed loans, by December 18.
● As of September 2023, YES Bank has gross NPAs of ₹4, 319 crore of which corporate banking
NPAs were ₹2,236 crore, mid-corporate NPAs were ₹219 crore and SME NPAs were ₹452 crore.
● Retail NPAs stood at ₹1,413 crore.
● Last year, the bank sold a Rs 48000 crore non-performing loan portfolio to JC Flowers ARC in
what is seen as the largest secondary market trade in the distressed loan segment.
‘10 PSBs transferred NPAs of over `11,617 cr to NARCL from Jan-Nov’
● A total of 10 Public Sector Banks (PSBs) have transferred Non-Performing Assets (NPAs) of over
Rs 11,617 crore to NARCL between January and November this year.
● In a written reply to a question in the Rajya Sabha, Minister of State for Finance Bhagwat Karad
said the National Asset Reconstruction Company Ltd (NARCL) has recovered Rs 16.64 crore as
of November 30, 2023.
● As per details of the debt assigned to the NARCL by these 10 PSBs, as on November 30, SBI
has transferred the largest amount of Rs 4,508 crore, followed by PNB, and Canara Bank at Rs
2,138 crore and Rs 1,858 crore, respectively.
 ● Union Bank of India has transferred Rs 1,831 crore to NARCL between January and November.
● The other PSBs include the Bank of Baroda, Bank of India, Bank of Maharashtra, Central Bank,
Indian Bank, and Indian Overseas Bank.
● These 10 PSBs had aggregate gross NPAs of over Rs 3.65 lakh crore as of September 30, 2023,
as per the data shared by the Finance Ministry to the Rajya Sabha.
RBI authorised Bandhan Bank to disburse pensions on behalf of Indian Railways
● Bandhan Bank has been authorised by RBI to disburse pensions on behalf of Indian Railways.
● With this authorisation, Bandhan Bank will be allowed to give pensions to all former employees of
the Ministry of Railways.
● It will have access to nearly 50,000 Indian Railways retirees every year on average across all
offices of Indian Railways.
● The net profit of Bandhan Bank more than tripled for the quarter ended September 2023 to Rs
721 crore.
● The net profit increased by a huge 245%.
About Bandhan bank :
● Bandhan Bank is a private-sector bank.
● It is headquartered in Kolkata.
● Dr. Anup Kumar Sinha is its current chairman.
● Chandra Shekhar Ghosh is its MD and CEO.
The presence of Indian banks via subsidiaries increased to 417 in FY23
● Indian banks increased their overseas presence through the subsidiaries route to 417 during
2022-23, from 399 at the end of the preceding fiscal, as per Reserve Bank data.
● Reserve Bank of India (RBI) survey on International Trade in Banking Services 2022-23 showed
their employee strength, too, rose 0.5 per cent and 6.2 per cent for foreign branches and
subsidiaries, respectively, during 2022-23, the
● The survey covers 14 Indian banks having overseas branches or subsidiaries and 44 foreign
banks having branches or subsidiaries in India.
● The consolidated balance sheet of foreign banks in India increased 5.7 per cent in US dollar
terms.
● The tightening global monetary policy cycle during the year led to a substantial rise in interest
income and expenses across bank groups.
● Total income to assets ratio of overseas branches of Indian banks increased to 3.9 per cent in
 2022-23 (1.6 per cent in 2021-22), but it remained lower vis--vis that of 6.9 per cent for foreign
banks in India.
● Branches of Indian banks in the UAE generated the highest fee income, followed by those in the
UK, Hong Kong, and Singapore.
Bain Capital sells a 1.1% stake in Axis Bank for over Rs 3,700 cr
● Private equity firm Bain Capital has offloaded a 1.1% stake in Axis Bank through the open market
raking in a profit of more than Rs 3,700 crore.
● This is the second time in 2023 that Bain Capital has sold a stake in the private sector lender.
● In June, it sold a 0.7% stake in Axis Bank at an average price of Rs 968 apiece, aggregating Rs
2,178 crore.
● Prior to this, the private equity firm had sold a 1.2% stake in October 2022.
● Meanwhile, several foreign portfolio investors (FPIs) picked up stakes in Axis Bank through
separate block deals.
LIC Announces Increase in Gratuity Limit for Agents from Rs 3 Lakh to Rs 5 Lakh
● Life Insurance Corporation (LIC) has notified an increase in gratuity limit to Rs 5 lakh from Rs 3
lakh for LIC agents with an aim to bring substantial improvements to the working conditions and
benefits for them.
● The increase was affected by amending the Life Insurance Corporation of India (Agents)
Regulations, 2017.
● These regulations may be called the Life Insurance Corporation of India (Agents) Amendment
Regulations, 2023.
● Currently, LIC agents are not eligible for renewal commission on any business completed under
the old agency.
About LIC:
● Established: 1st September 1956
● MD: Siddhartha Mohanty
● Headquarters: Mumbai, India
Reliance General Insurance Launches 'Reliance Health Global' Insurance Policy
● Reliance General Insurance Company introduced “Reliance Health Global", a healthcare policy
aimed at providing Indians with access to global healthcare.
● The policy offers extensive coverage both within India and worldwide, catering to individuals with
a global lifestyle.
 ● Sum-Insured Coverage : Substantial sum-insured coverage up to $1 million, providing a robust
sense of security for medical treatment abroad.
● Beyond Hospitalization Coverage : Aside from covering scheduled hospitalization, the policy
includes provisions for travel, accommodation, and comprehensive Visa and assistance services,
addressing unforeseen situations like lost passport or emergency cash needs.
● No Room Rent Limitations:No limitations on room rent, offering flexibility and choice in selecting
healthcare facilities.
About Reliance General Insurance :
● Founded : 17 August 2000
● Headquarters : Mumbai, Maharashtra
● CEO : Rakesh Jain
● Reliance General Insurance Company Limited is an India-based private insurance company and
is part of Reliance Anil Dhirubhai Ambani Group, wholly owned through Reliance Capital.
IndusInd Bank Unveils Innovative 'Indus Solitaire Program' Community Banking Initiative for Diamond
Cohorts
● IndusInd Bank has introduced the 'Indus Solitaire Program,' a specialized community banking
initiative tailored for the diamond industry.
● This curated banking program will be offered through Bank’s flagship branches in prime locations
across various cities with concentration in Mumbai and Surat and will provide a range of
exclusive benefits along with distinct features and enriched offerings to customers in the diamond
industry.
● The program offers exclusive benefits such as 24*7 locker access, add-on family accounts, and
membership benefits at top-tier hotels.
● Debit and credit cards under this program provide concierge services, complimentary golf
lessons and movie tickets, zero cross-currency mark-up fee on foreign exchange, and
complimentary lounge access.
About IndusInd Bank :
● Founded : April 1994
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Sumant Kathpalia.
● Tagline : We Make You Feel Richer
Government of India and Asian Development Bank Ink 37 Billion Japanese Yen Loan Deal for Delhi-
Meerut Regional Rapid Transit System Corridor
● The Government of India (GoI) and Asian Development Bank (ADB) signed an agreement for a
37 billion Japanese Yen ($250 million) loan that will continue financing the construction of the 82-
kilometre Delhi-Meerut Regional Rapid Transit System (RRTS) corridor.
Loan Signatories :
● Ms. Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance,
represented the Government of India.
● Mr. Hoe Yun Jeong, Deputy Country Director, and Officer-in-Charge of the India Resident
Mission, represented ADB.
● Previous ADB Funding : Earlier, ADB had approved a $1,049 million Multi-tranche Financing
Facility (MFF) for the project in 2020 to support construction of RRTS, the first of three priority rail
corridors planned under the NCR Regional Plan 2021, to connect Delhi to other cities in adjoining
states.
About ADB :
● Established : 1966
● Headquarters : Manila, Philippines
● President : Masatsugu Asakawa
● Membership : 68 members, including 49 regional members (countries in Asia and the Pacific)
and 19 non-regional members (countries outside the region)
IRDAI Relaxes Claim Settlement Rules for Cyclone Michaung Victims
● The Insurance Regulatory and Development Authority of India (IRDAI) has raised the limits on
losses for the appointment of Surveyors and Loss Assessors.
● The limits have been increased for Motor Insurance to Rs 1 lakh from the existing Rs 50,000. For
other than motor insurance, it has been increased from the current Rs 1 lakh to Rs 5 lakh.
● A surveyor and loss assessor is an insurance intermediary licensed by IRDAI to investigate,
manage, quantify, validate and deal with losses (whether insured or not) arising from any
contingency, on behalf of the company or the policyholder.
● The special dispensation is effective for a period of 2 months from the date of the circular's
issuance.
● Cyclone Michuang (pronounced as ‘Migjaum’) intensified into a severe cyclone after forming in
the Bay of Bengal during the 2023 North Indian Ocean cyclone season.
About IRDAI :
 ● Established : 1999
● Headquarters : Hyderabad, Telangana
● Chairperson : Debasish Panda
● The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government
of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance
industries in India.
Foreign Direct Investment (FDI) Inflows into Gujarat Experience 30% Decline in the First Half of FY24,
Marking a 2-Year Slowing Trend
● Since the last two years, foreign direct investment (FDI) inflows into Gujarat have remained
subdued, despite the state topping the FDI charts in 2020–21.
● In the first six months of the current financial year 2023-24, FDI flows into Gujarat experienced a
nearly 30% decline, marking the third consecutive year of subdued performance.
● Gujarat's FDI decline is the second-highest among Indian states during this period, with
Karnataka experiencing a larger decline of almost 44%.
● Gujarat attracted ₹18,884 crore between April and September, which is lower than the ₹26,866
crore FDI for the same period in 2022–23, according to state figures published by the Department
for Promotion of Industry and Internal Trade (DPIIT).
Cashfree Payments Introduces 'FlowWise,' India's Pioneering Self-Hosted Payments Orchestration
Platform
● Cashfree Payments, India's leading payments and API banking company, announced its foray
into payment orchestration with the launch of 'FlowWise' that helps Indian businesses manage
payments more efficiently.
● The newly introduced platform will allow businesses to easily use multiple payment services with
just one setup and direct payments to different partners based on specific needs in real-time.
● With FlowWise, Cashfree Payments has introduced an innovative and industry-first concept of
'self-hosted payments orchestration', allowing payment management to take place directly on the
merchant's infrastructure.
● It is India's first cloud-native orchestration platform and aims to improve success rate by up to
10% and cut the processing costs up to 40%.
● FlowWise's self hosting feature eliminates safety concerns, making it one of the most secure,
scalable and cost effective solutions for merchants.
● CEO and Co-founder, Cashfree Payments : Akash Sinha
HDFC Life and Karur Vysya Bank (KVB) Join Forces in Corporate Agency Partnership for Life
Insurance Solutions
⚫ Private sector Karur Vysya Bank Limited (KVB) and HDFC Life Insurance Company Limited (HDFC
Life) have entered into a corporate agency (CA) agreement to offer life insurance products to their
respective customers.
⚫ This corporate agency arrangement would enable customers of Karur Vysya Bank to avail HDFC
Life's wide range of life insurance products which include solutions for protection, savings and
investment, retirement and critical illness.
⚫ The collaboration is aligned with the goal of Insurance for all by 2047 set by the Insurance
Regulatory and Development Authority (IRDAI).
⚫ Since HDFC Life offers claim intimation process online, our customers can avail the services without
stepping out of their homes.
About HDFC Life Insurance Company Limited :
● Founded : 2000
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Vibha Padalkar
About Karur Vysya Bank :
● Established : 1916
● Headquarters : Karur, Tamil Nadu
● MD & CEO : Mr. Ramesh Babu
● Tagline : Smart way to Bank

LIC Becomes First Anchor Investor in NABARD’s Corporate Debt Market Bond Sale

● Life Insurance Corp (LIC), the country's biggest institutional holder of marketable securities, is
officially an anchor investor for an upcoming bond sale by the National Bank for Agricultural and
Rural Development (NABARD), marking the first such occurrence in India's corporate debt
market.
● LIC is the anchor investor for the ₹5,000-crore infrastructure bond sale by Nabard on December
20, 2023.
 ● The issuer, Nabard, has a green shoe option of ₹5,000 crore in addition to the base amount
● As the anchor investor, LIC will take up 30% of the bond sale, amounting to ₹1,500 crore.
● Currently, LIC holds approximately 22% share in the overall bond market and 4% of the total
market capitalization in Indian equities.
● Nabard's bonds are rated AAA by rating agencies ICRA and India Ratings and will mature on
April 28, 2034.
● In Nov 2023, LIC had invested a little more than ₹13,000 crore out of a ₹20,000-crore bond sale
by Reliance Industries in November.
About LIC:
● Established: 1st September 1956
● MD: Siddhartha Mohanty
● Headquarters: Mumbai, India
About NABARD :
● Headquarters : Mumbai, Maharashtra, India
● Chairman : Shri. Shaji K V
● It was established on the recommendations of B. Sivaraman Committee (by Act 61, 1981 of
Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural
Development Act 1981.
● NABARD is an apex regulatory body for the overall regulation of regional rural banks and apex
cooperative banks in India.
● It is under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI).
PayCraft Collaborates with NSDL Payments Bank and NPCI to Introduce Corporate Transit Card

● PayCraft Solutions Private Limited, a Mumbai-based fintech entity specializing in online and
offline payments processing, has launched the One Nation Corporate Card in partnership with
NSDL Payments Bank and the National Payments Corporation of India (NPCI).
● The One Nation Corporate Card will be offered to the Indian Customers Pan India from June
End.
● Built on National Common Mobility Card (NCMC) specifications with offline enabled, these cards
will advance the Government of India’s vision of One Nation One Card.
 ● Benefits to Corporates and SMEs: This card is a one-stop end-to-end payment solution specially
designed for corporates and SMEs to make their business travel, small value
payments/disbursements, branch expenses, etc. simpler and faster.
● Benefits to Employees: The One Nation Corporate Card is a multipurpose card and can be used
as day-to-day Transit Travel Card (in metro, buses, and other modes of public transport wherever
NCMC card is accepted), tax benefit card and business travel card.
About PayCraft :
● Founded : 2013
● Headquarters : Mumbai, Maharashtra, India
● CEO : Ambarish Parekh
About NSDL Payments Bank :
● Headquarters : Mumbai, Maharashtra, India
● It is a wholly owned subsidiary of National Securities Depository Limited (NSDL).
About NPCI :
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Dilip Asbe
● The National Payments Corporation of India is an umbrella organization for operating retail
payments and settlement systems in India, is an initiative of the Reserve Bank of India (RBI) and
Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems
Act, 2007, for creating a robust Payment & Settlement Infrastructure in India.

U GRO Capital Secures $30 Million in Funding from Dutch Development Bank FMO through Non-
Convertible Debentures (NCDs)

● U GRO Capital, a lending tech platform catering to Micro, Small and Medium Enterprises
(MSMEs), has raised Rs 250 crore (approximately USD 30 million) through non-convertible
debentures (NCDs) from FMO, the Dutch Entrepreneurial Development Bank based in the
Hague, the Netherlands.
● The INR-denominated NCDs issuance was fully subscribed by FMO.
● As an impact investor, FMO focuses on 3 sectors with a high development impact, agribusiness,
food & water, energy, and financial institutions.
 ● With a total committed portfolio of around EUR 12 billion across over 85 countries, FMO is
among larger bilateral private sector development banks globally.
● Over the past five years, U GRO Capital said it has provided credit to more than 80,000 small
businesses.
● According to the latest data on sectoral deployment by the Reserve Bank of India (RBI), the
MSME sector in October, 2023 had received Rs 23.15 lakh crore in priority sector lending from
scheduled commercial banks.
About U GRO Capital :
● Headquarters : Mumbai, Maharashtra, India
● Founder and Managing Director : Shachindra Nath

CASHe Unveils its Super App & Repositions itself as ‘Bharat Ka Money App’

● CASHe, a leading credit-led Artificial Intelligence (AI)-driven financial wellness platform, has
unveiled its super app with the tagline - 'Bharat Ka Money App.'
● CASHe represents commitment to delivering accessible, innovative, and empowering financial
solutions to all."
● The new tagline captures the company's steadfast focus on providing comprehensive financial
solutions, seamlessly integrating credit, investment, and insurance - all customized to
conveniently address the diverse financial needs of users on one unified platform.
● Simultaneously, CASHe has launched a revamped website (www.cashe.co.in) along with the
launch of its mobile application, designed to expand its financial offerings to a broader audience
and reinforce its national presence.
About CASHe :
● Founded : 2016
● Headquarters : Mumbai, Maharashtra
● CEO : Yashoraj Tyagi

IDFC FIRST Bank, LIC Cards and Mastercard Collaborate to Launch a Co-branded Credit Card to Meet
the Financial Needs of India
 ● IDFC First Bank, LIC Cards, and Mastercard announced their collaboration to launch an
exclusive co-branded credit card to meet the dynamic financial needs of the country.
● The credit card is available in two variants – LIC Classic and LIC Select.
● Financial Benefits : No joining and annual fees for the credit card.
● Low interest rates starting from 9% p.a.
● Insurance Benefits : Cardholders enjoy a personal accident insurance cover of up to Rs. 5 lakh.
● Up to Rs. 50,000 cover for lost card liability.
● Roadside Vehicle Assistance : Additional perk includes roadside vehicle assistance worth Rs.
1,399.
● Fee Structure : Zero joining fee and zero annual fee. No minimum spend conditions Dynamic
APR (Annual Percentage Rate). Low revolving credit for better credit customers.
About IDFC First Bank :
● Founded : October 2015
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : V. Vaidyanathan
● Tagline : Always You First
● IDFC FIRST Bank is an Indian private sector bank formed by the merger of the banking arm of
Infrastructure Development Finance Company and Capital First, an Indian non-bank financial
institution.
● It is the first universal bank to offer monthly interest credit on savings accounts, lifetime free
credit cards with dynamic and low annual percentage rates.
About Mastercard :
● Established : 1966
● Headquarters : New York, United States
● CEO : Michael Miebach
● Mastercard Inc. is the second-largest payment-processing corporation worldwide. It offers a
range of payment transaction processing and other related-payment services.

PFRDA Releases Preliminary Risk Management Framework for Credit Rating Agencies (CRAs)
 ● Pension regulator Pension Fund Regulatory and Development Authority (PFRDA) has issued a
Draft Risk Management Framework for the Central Record keeping Agencies (CRAs) under
National Pension System (NPS) architecture.
● The stakeholders including CRAs have been given time till January 1 to provide their
feedback/suggestions/inputs on the draft proposals.
● Currently, there are 3 CRAs registered with the Pension Fund Regulatory and Development
Authority.
● They are Computer Age Management Services Ltd (CAMS), Protean eGov Technologies Ltd.
(Formerly NSDL e-Governance Infrastructure Limited), and KFin Technologies Limited.
● The Risk Management Framework will have to be approved by the respective Boards of CRAs
and submitted to the regulatory. The policy would be reviewed periodically by the Board of
PFRDA.
● The objective of the Risk Management Framework includes managing risk in a consistent
manner across the organisational set up of the CRA; have a strong risk culture wherein
managing risk would be part of regular work of the CRA; and deliver fair outcomes for
subscribers, maintain an orderly and transparent operation of services of the CRAs to
subscribers and all other stakeholders.

SBI Mutual Fund Acquires 1.5% Stake in Karur Vysya Bank for Rs 190 Crore

● SBI Mutual Fund acquired shares of scheduled commercial bank Karur Vysya Bank (KVB) for Rs
190 crore through open market transactions.
● According to the bulk deal data available with the BSE and NSE, SBI Mutual Fund (MF)
purchased a total of 1,20,00,000 shares, amounting to a 1.5% stake in Karur Vysya Bank.
● The shares were picked at an average price of Rs 162 apiece on both bourses, taking the
combined aggregate deal size to Rs 194.40 crore.
● Shares of Karur Vysya Bank rose 1.32 per cent to close at Rs 164.90 apiece on the BSE and
gained 0.52 per cent to settle at Rs 164.70 per piece on the NSE.
About SBI Mutual Fund :
● Founded : 1987
● Headquarters : Mumbai, Maharashtra
● MD & CEO : Shamsher Singh
 ● SBIFMPL is a joint venture between the State Bank of India, an Indian public sector bank, and
Amundi, a European asset management company.
About Karur Vysya Bank :
● Established : 1916
● Headquarters : Karur, Tamil Nadu
● MD & CEO : Mr. Ramesh Babu
● Tagline : Smart way to Bank

State Bank of India (SBI) Set to Ink $165 Million Line of Credit (LoC) Agreement with World Bank for
Rooftop Solar Projects

● State Bank of India (SBI) has signed a $165 million (over Rs 1,300 crore) Line of Credit (LoC)
with the World Bank for promoting rooftop solar projects in India.
● The LoC is specifically aimed at supporting grid-connected rooftop solar photovoltaic (PV)
projects in both residential and institutional sectors.
● The SBI has outstanding forex loans of $2.3 billion from various multilateral agencies, including
the World Bank, the Asian Development Bank, and Germany's KfW.
● In September 2023, SBI announced that it plans to make home loans with rooftop solar
installations mandatory for residential projects funded from the bank's long-term climate action
funds drawn down from multilateral agencies.
● SBI is planning to make it mandatory for builders to make rooftop solar installations if the project
is funded from the bank's green funds.
● On December 21,2023 SBI announced it is signing Rs 1,800 crore in LoC with the European
Investment Bank (EIB) to support climate action projects in the country. On December 14, SBI
signed Rs 630 crore in LoC with German Development Bank KfW to promote solar projects in
India.
● SBI registered a 9.13% growth in consolidated net profit in the September quarter to Rs
16,099.58 crore as against Rs 14,752 crore in the year-ago period.
About SBI :
● Established : 1 July 1955
● Headquarters : Mumbai, Maharashtra, India
● Chairman : Dinesh Kumar Khara
 ● CFO : Kameshwar Rao Kodavanti
About World Bank :
● Established : July 7, 1944
● Headquarters : Washington, D.C., United States
● President : Ajay Banga
● The World Bank is an international financial institution that provides loans and grants to the
governments of low- and middle-income countries for the purpose of pursuing capital projects.
Bandhan Bank Receives Mandate to Collect Revenue on Assam Government's e-GRAS Portal

● Bandhan Bank has obtained a mandate to oversee revenue collection on the Assam
government's e-GRAS portal.
● This will enable people of Assam to make their tax payments as well as non-tax payments
through the Government Receipt Accounting System Portal (GRAS).
● This initiative aims to streamline transactions, making them more accessible and paperless for
the people of Assam.
● Through Assam e-GRAS portal, a citizen can pay to 70 various departments for a range of
services offered by them.
● In the fiscal year 2022-23, the total collection through the Assam e-GRAS portal reached nearly
Rs 16,000 crore.
● Government Receipt Accounting System (GRAS) is a web application, which provides facility to
the citizens, business community to pay taxes and non-tax receipts to the government
electronically.
● Assam eGRAS provides 24 X 7 facility and the citizens of Assam can generate e-challan for
required services and make online payments anytime from anywhere.
About Bandhan Bank :
● Founded : 2015
● Headquarters : Kolkata, West Bengal, India
● MD & CEO : Chandra Shekhar Ghosh
● Tagline : Aapka Bhala. Sabki Bhalai. ', (Your benefit. Everyone's welfare.)

International Financial Services Centres Authority Establishes Expert Panel for Transition Finance
 ● The International Financial Services Centres Authority (IFSCA) has constituted an expert
committee on transition finance to formulate a regulatory framework to promote green and
sustainable debt securities.
● Committee Composition : The committee, which includes representatives from corporates,
banks, standard setters, exchanges, consultants, and think tanks, will be chaired by Dhruba
Purkayastha, the India Director for Climate Policy Initiative.
● Committee's Mandate : The committee has been tasked to assess the trends in the segment and
identify the best practices for transition finance in India by 2047.
● Responsibilities of the Committee : Along with providing a roadmap and timeline for developing
this ecosystem in India’s maiden IFSC, GIFT City, the committee will recommend policy
decisions to the government to address taxation, legal, and regulatory affairs.
● Ongoing Initiatives at IFSC : Several ongoing initiatives towards developing IFSC as the hub for
sustainable finance instruments have led to significant issuance.
● These initiatives have led to the listing of $10.1 billion ESG-labelled debt securities, issuance of
more than $700 million in green/sustainable loans, and the setup of an ESG Engagement Fund
at IFSC.
● Impact on India Inc : The additional regulatory and policy measures will help India Inc to fund its
transition to net-zero carbon emissions through transition bonds and transition loans.
About IFSCA :
● Established : April 27, 2020 (under the International Financial Services Centres Authority Act,
2019)
● Headquarters : Gujarat
● Chairman : K Rajaraman
● The IFSCA is the regulatory body for the Indian special economic zones such as the GIFT
International Financial Services Centre for International Financial Services and commodity
markets under the ownership of the Government of India.
Axis Bank Collaborates with American Express to Introduce Axis Bank Privilege Credit Card on Amex
Network

● Private sector lender Axis Bank has tied up with American Express and launched an Axis Bank
Privilege Credit Card on the American Express network.
 ● The Axis Bank Privilege Credit Card on American Express network is packed with a host of
attractive benefits such as activation benefit worth Rs 5000 and two complimentary domestic
lounge access per calendar quarter.
● To be eligible for the card, you must be a resident of India with an annual net income of at least
Rs 600,000.
● The joining fee is Rs 1500, but it is free for priority customers.
● The annual fee of Rs 1500 is reversed on achieving spends of Rs 2.5 lakh in the previous year
● Card members can get activation vouchers from marquee merchants on defined spend
thresholds on the card, and instant discounts on online merchants including Swiggy, Blinkit and
Zomato.
● Cardholders must make the first transaction within 30 days of card setup to avail of this benefit.
About Axis Bank :
● Established : 3 December 1993
● Headquarters: Mumbai, Maharashtra, India
● MD & CEO: Amitabh Chaudhry
● Tagline : Badhti Ka Naam Zindagi

Kotak Mahindra Life Insurance Unveils T.U.L.I.P, a New Term with Unit-Linked Insurance Plan (ULIP)

● Kotak Mahindra Life Insurance Company has introduced a new insurance product known as
T.U.L.I.P – Term with Unit Linked Insurance Plan.
● This is a unit-linked term insurance plan designed to provide life coverage up to 100 times the
annual premium, allowing customers to potentially earn returns similar to a unit-linked insurance
plan (ULIP).
● In addition to life coverage, it offers extra protection against critical illnesses and accidental
death.
● Loyalty additions of up to 30% of the fund value, incorporated by the company as part of maturity
benefits.
● Refund of two times the premium allocation charges in the 10th, 11th, 12th, and 13th year.
● Refund of one to three times the mortality charges from the 11th policy year onward.
● Flexibility to withdraw funds in case of a financial emergency..
 ● T.U.L.I.P offers policyholders the flexibility of selecting from eight fund options that encompass
equity, including mid-cap, debt, and hybrid categories.
● This flexibility empowers individuals to customize their investment strategy based on their risk
tolerance and financial objectives.
About Kotak Mahindra Life Insurance Company :
● Established : 2001
● Headquarters : Mumbai, Maharashtra
● Managing Director : Mahesh Balasubramanian

Bank of Baroda Faces ₹5 Crore Penalty from RBI Over Shortage in Soiled Note Remittances

● Bank of Baroda informed, in an exchange filing, that the Reserve Bank of India had imposed a
penalty of ₹5 crore on the bank, in light of a shortage in the soiled note remittances.
● The RBI also imposed an additional penalty of ₹2,750 on the bank after it detected "fake and
mutilated" notes in the soiled note remittances.
● A ‘soiled note’ is a "note which has become dirty due to normal wear and tear and also includes a
two piece note pasted together wherein both the pieces presented belong to the same note and
form the entire note with no essential feature missing.
● Clean Note Policy Mandate : India's central bank Reserve Bank of India (RBI) imposes these
penalties in keeping with a Clean Note Policy, which mandates that a "penalty be levied
immediately on detection of shortage in soiled note remittances/chest balances, irrespective of
the number of pieces detected."
About BoB :
● Established : 20 July 1908
● Headquarters : Vadodara, Gujarat, India
● MD & CEO : Debadatta Chand
● Tagline : India's International Bank
PFRDA Permits NPS Subscribers to Make Contributions via UPI QR Code for D-Remit

● Pension fund regulator, the Pension Fund Regulatory and Development Authority (PFRDA)
allowed National Pension System (NPS) subscribers to deposit their contributions directly under
the D-Remit proc ess through the Unified Payments Interface (UPI) QR code.
 ● This advancement aims to simplify the contribution process, making it more accessible and
efficient for NPS participants.
● The D-remit ID, comprising 15 digits, must be added as a beneficiary in internet banking when
transferring voluntary contributions from the subscribers’ savings bank accounts.
● Under the NPS, subscribers make voluntary contributions to their NPS Tier I and II accounts.
● \The introduction of QR code - UPI for D-Remit is a positive & revolutionary step towards making
NPS contributions more accessible, efficient, and flexible.
● It is important to note that the D-Remit virtual account is distinct from the Permanent Retirement
Account Number (PRAN).
● Same-Day Investment: Contributions received by the Trustee Bank (TB) before 9:30 AM will be
invested on the same day, optimizing returns.
● Periodical Auto Debit: Subscribers can set up periodical auto-debit payments, such as monthly,
quarterly, or half-yearly, providing a convenient way to build their retirement corpus.
● One-Time or Regular Contribution: The flexibility to choose between one-time or regular
contributions based on individual preferences and financial goals.
● Optimised Investment: The D-Remit process leverages standing instructions and rupee cost
averaging for long-term retirement wealth creation.
About PFRDA :
● Headquarters : New Delhi, Delhi
● Chairman : Deepak Mohanty
● PFRDA is the regulatory body for the overall supervision and regulation of pensions in India.
● It operates under the jurisdiction of the Ministry of Finance in the Government of India.
● It is a statutory regulatory body set up under the PFRDA Act, 2013.
● Its objective is to promote old age income security by establishing, developing, and regulating
pension funds and to protect the interests of subscribers to schemes of pension funds and
related matters.
● Composition: It consists of a Chairperson and not more than six members, of whom at least three
shall be whole-time members, to be appointed by the Central Government.
● NPS is a social security initiative by the Central Government.
● This pension programme is open to employees from the public, private, and even unorganised
sectors, except those from the armed forces.
● Earlier, the NPS scheme covered only Central Government employees.
 ● With effect from 1st May, 2009, NPS has been provided for all citizens of the country, including
the unorganised sector workers, on a voluntary basis.
● It is based on the unique Permanent Retirement Account Number (PRAN) allotted to every
subscriber.
● The scheme is portable across jobs and locations, with tax benefits under Section 80C and
Section 80CCD.
About Ministry of Finance :
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Bhagwat Karad, Pankaj Choudhar

Aditya Birla Sun Life and IDFC First Bank Forge Partnership for Joint Financial Solutions

● Aditya Birla Sun Life Insurance and IDFC First Bank have entered into a bancassurance
partnership to offer insurance solutions to the bank’s customers.
● Under this collaboration, the insurer will leverage the extensive distribution network of IDFC First
Bank.
● Aditya Birla Sun Life will offer products and services, including those that focus on retirement
planning, ensuring a steady source of second income and tax-free returns tailored to their life
stages.
● The partnership will provide customers with a one-stop-shop for their financial needs, including a
range of insurance and banking products, and enhance the customer experience.
● The two organisations will also collaborate to create financial solutions that cater to the changing
needs of customers.
● MD and CEO of Aditya Birla Sun Life Insurance : Kamlesh Rao
About IDFC First Bank :
● Founded : October 2015
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : V. Vaidyanathan
● IDFC FIRST Bank is an Indian private sector bank formed by the merger of the banking arm of
Infrastructure Development Finance Company and Capital First, an Indian non-bank financial
institution.
 ● It is the first universal bank to offer monthly interest credit on savings accounts, lifetime free
credit cards with dynamic and low annual percentage rates.
DCB partners with Easy Home Finance to offer economical housing loans

● DCB Bank, a new generation private sector bank and Easy Home Finance Limited (EASY) -
India's leading mortgage tech company have entered a colending business alliance to offer
affordable home loans in the country.
● This alliance seeks to leverage DCB Bank's expertise in the affordable housing segment and
EASY's tech capabilities to enable quick disbursement of affordable home loans and fulfil the
dream of many an Indian of owning a home, come true.
● DCB Bank has built a granular and secure home loan portfolio across varied geographies and
has built expertise in credit assessment for a range of loans such as, prime home loans,
affordable home loans, Loan against Property (LAP), Micro-LAP, loan for home improvement,
and construction finance for developers as well.
● EASY is a pioneer in the mortgage tech space in the Indian subcontinent.
● Easy's asset-light model of neo banking mortgage and a greater reach for digital home loans
combined with rural and urban connect of DCB Bank will help customers in faster processing of
their home loan application.
● Managing Director of Easy Home Finance Limited : Mr. Rohit Chokhani
About DCB Bank :
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Murali M. Natrajan
● DCB Bank Limited is a private sector scheduled commercial bank in India.
Unclaimed Bank Deposits Surge by 28% to Reach Rs 42,270 Crore, Refunds Amounting to Rs 1.4
Billion

● Unclaimed deposits with banks have seen a notable 28% year-on-year increase, soaring to Rs
42,270 crore by March 2023, up from Rs 32,934 crore in the fiscal year 2022.
● Among the unclaimed deposits, public sector banks hold a significant share, amounting to Rs
36,185 crore, while private sector banks account for Rs 6,087 crore as of March 2023.
 ● RBI's Involvement: Banks follow a practice of transferring unclaimed deposits from dormant
accounts of 10 or more years to the Reserve Bank of India's (RBI) Depositor Education and
Awareness (DEA) Fund.
● RBI's Directive: In an effort to tackle the issue, the RBI has instructed banks to publish lists of
unclaimed deposits from accounts inactive for a decade or longer on their official websites.
● Centralised Web Portal (UDGAM): The RBI has introduced a centralised web portal called
Unclaimed Deposits Gateway to Access Information (UDGAM).
● '100 Days 100 Pays' Campaign: The RBI has initiated a campaign named '100 Days 100 Pays,'
urging banks to identify and settle the top 100 unclaimed deposits of each bank in every district
within a 100-day timeframe.
● Refunds under Campaign: At the conclusion of the '100 Days 100 Pays' campaign, 31 major
banks, constituting over 90% of unclaimed deposit balances with the DEA Fund, have
successfully refunded Rs 1,432.68 crore.
Bandhan Bank Unveils 'INSPIRE' Program for Seniors with Exclusive Banking Benefits

● Bandhan Bank has launched the ‘INSPIRE’ programme for senior citizens, catering to their
diverse banking needs, from preferential interest rates and priority banking to doorstep facilities.
● A specially designed INSPIRE membership card will allow senior citizens to access healthcare
benefits, enhanced banking services and special interest rates on fixed deposits (FD).
● As part of the INSPIRE programme, Bandhan Bank also plans to set up dedicated senior citizen
help desks at its branches to ensure personalised service.
● Regarding preferential fixed deposit rates for senior citizens, Bandhan Bank offers 8.35 per cent
interest on 500-day FDs.
● It provides 7.5 per cent annual interest to seniors for tax-saver FDs.
● In August,2023 the Reserve Bank of India (RBI) authorised the bank to disburse civil pensions to
the central government employees on behalf of the Central Pension Accounting Office (CPAO)
under the finance ministry, marking a major milestone in its journey.
About Bandhan Bank :
● Founded : 2015
● Headquarters : Kolkata, West Bengal, India
● Founder, MD and CEO : Chandra Shekhar Ghosh.
● Tagline : 'Aapka Bhala. Sabki Bhalai. ', (Your benefit. Everyone's welfare.)
World Bank Greenlights $300 Million Initiative to Enhance Urban Water and Sewerage Infrastructure in
Tamil Nadu

● The World Bank's Board of Executive Directors has given the green light to a groundbreaking
initiative aimed at fortifying urban water and sewerage systems for approximately 2 million people
in Tamil Nadu, one of India's most urbanised states.
● According to the World Bank, the newly approved USD 300 million Tamil Nadu Climate Resilient
Urban Development Program is set to enhance access to quality water and sewerage services,
promoting climate-resilient cities in the face of escalating climate shocks such as floods and
droughts.
● The program will target 21 Urban Local Bodies (ULBs), upgrading their delivery systems to
ensure efficient water supply and sewerage services.
● The $300 million loan from the International Bank of Reconstruction and Development (IBRD) will
use the blended financing instrument of Program-for-Results (PforR) with Investment Project
Financing (IPF) to link disbursement of funds directly to the achievement of results while
providing technical assistance.
● The Program loan has a maturity of 32 years with a grace period of 7 years.

India & the Asian Development Bank (ADB) ink $100 million loan pact to enhance urban services and
boost tourism infrastructure in the state of Tripura

● The Government of India (GoI) signed an agreement with Asian Development Bank (ADB) to
avail a USD 100 million loan to improve urban services and tourism facilities in the northeastern
state of Tripura.
● The signatories to the loan agreement for the Tripura Urban and Tourism Development Project
were Ms. Juhi Mukherjee, Joint Secretary Department of Economic Affairs in the Ministry of
Finance, for the Government of India, and Mr. Nilaya Mitash, Officer-in-Charge of ADB’s India
Resident Mission, for ADB.
● Urban Infrastructure Upgrades :
➢ Installation of 42 km of new transmission and distribution pipes for urban water supply.
➢ Establishment of 4 new water treatment plants.
 ➢ Improvement of 55 km of stormwater drains
➢ Upgradation of 21 km of urban roads with features catering to the needs of diverse
populations (elderly, women, children, and differently-abled).
● Capacity Building: The project includes capacity building for 12 urban local bodies, covering
planning, infrastructure operations, financial management, gender equality, social inclusion, and
project management.
● Building Regulations: The state government will update building regulations to incorporate spatial
planning and green building principles, ensuring climate and disaster resilience.
● Tourism Development : Through this project, ADB will help upgrade tourist destinations, such as
the Chaturdash Devata Temple, Kasba Kalibari, and Neermahal Palace, by improving the
amenities, rooms, landscaping, and making them more visitor- and gender-friendly destinations.
● Tourism Business Plan: A 10-year tourism business plan will be developed to guide marketing,
promotion, and attract private sector investments in the tourism sector.
About ADB :
● Established : 1966
● Headquarters : Manila, Philippines
● President : Masatsugu Asakawa
● Membership : 68 members, including 49 regional members (countries in Asia and the Pacific)
and 19 non-regional members (countries outside the region)
RBI's Model Anticipates Retail Inflation to Reach 4.8% in FY25

● The Reserve Bank of India’s (RBI's) Dynamic Stochastic General Equilibrium (DSGE) model
forecasts retail inflation to be 4.8% in the fiscal year 2024-25.
● The projected inflation rate surpasses the Monetary Policy Committee's (MPC) target of 4%.
● CPI Inflation Trends: The Consumer Price Index (CPI) inflation is anticipated to ease post Q3
FY24, averaging at 5.3% for the entire FY24 and further moderating to 4.8% in FY25.
● Repo Rate Implications: The DSGE model suggests that, based on the retail inflation forecast,
the repo rate is likely to remain at 6.5% for the majority of FY25.
● MPC Focus on Accommodation Withdrawal: The Monetary Policy Committee plans to maintain
the repo rate at 6.5% as part of its strategy to withdraw accommodation and align with the 4%
inflation target.
 ● Real GDP Growth Projection (2023-24): The DSGE model projects a real GDP growth rate of
7.1% for the financial year 2023-24.
● DSGE Model Overview : The Dynamic Stochastic General Equilibrium (DSGE) model for the
Indian economy captures the dynamic interactions between various agents in the economy as
well as their response to shocks.
● For arriving at FY24 and FY25 real GDP growth projections, the DSGE model has made
following assumptions:
➢ Global GDP growth of 2.6% and 2.1% for 2023-24 and 2024- 25, respectively
➢ Global CPI inflation of 5.5% and 4.0% for FY24 and FY25 respectively
➢ Unchanged policy repo rate and US Fed funds rate at 6.5% and 5.5% for the current and
next financial year, respectively.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Shaktikanta Das
● Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi
Sankar
MSME lender U Gro Capital raises ₹250 crore from Dutch development bank
● Micro, Small and Medium Enterprises (MSME) lender U Gro Capital has raised ₹250 crore from
Dutch development bank through rupee-denominated non-convertible debentures (NCDs).
● The association will help strengthen the fund’s commitment towards greater financial inclusion in
India.
● The MSME-lending-focused NBFC has provided credit to more than 80,000 small businesses.
● Prior to this, it had raised ₹240 crore from Denmark’s Investment Fund for Developing Countries
(IFU) in May 2023.
● Out of U Gro Capital’s total borrowings, about 20% are from development financial institutions
and impact funds like ResponsIbility, Calvert Impact Capital, Enabling Qapital, SIDBI, and others

IMF Reclassified India's Exchange Rate Regime from Floating to Stabilized Arrangement
 ● India’s de facto exchange rate regime has been reclassified by the International Monetary Fund
(IMF) from “floating” to “stabilised arrangement” for the period December 2022 to October 2023.
● IMF Article IV Review Process : A team from the IMF staff visits the nation as part of the Article
IV review process.
● Rupee-Dollar Fluctuations : The staff saw that the rupee-dollar had fluctuated dramatically during
the previous two years, losing almost 15% of its value between December 2019 and November
2022.
● Reform Efforts and Potential Growth : India has a far higher potential growth rate, according to
the IMF, if reform efforts are advanced.
● Economic Projections : The IMF stated that real GDP is projected to grow at 6.3% in FY 2023/24
and FY2024/25.
● Inflation Outlook : Headline inflation is expected to gradually decline to the target.
● Current Account Deficit Improvement : The current account deficit is expected to improve to 1.8%
of GDP in FY 2023/24.
About IMF :
● Headquarters : Washington, D.C., United States
● Managing Director : Kristalina Georgieva
● Membership : 190 countries (189 UN countries and Kosovo)
LIC Granted Extension Until May 2032 to Attain 25% Minimum Public Shareholding

● Life Insurance Corporation of India (LIC) will get time till May 2032 to comply with Minimum
Public Shareholding (MPS) norms prescribed by the Securities and Exchange Board of India
(SEBI) under Rule 19A (6) of the Securities Contract (Regulations) Rules (SCRR) 1957.
● As of September 30, 2023, the government owns 96.5% in LIC.
● The government divested 3.5% of its shareholding in LIC last year, and accordingly, it got listed
on stock exchanges.
● Rule 19A of the Securities Contract Regulation Rules says every listed company, other than a
public sector company, shall maintain a public shareholding of at least 25%.
● Such a provision aims to bring more public shareholding.
● The public can be an individual or an institution.
About LIC:
● Established: 1st September 1956
 ● MD: Siddhartha Mohanty
● Headquarters: Mumbai, Maharashtra, India
NABARD's Initiative to Access Global Climate Capital for the Indian Agricultural Sector

● The National Bank for Agriculture and Rural Development (NABARD) has teamed up with the
Asian Development Bank (ADB) to help the farming sector tackle the adverse impact of climate
change.
● The two organisations, in association with the Bill and Melinda Gates Foundation, will tap climate
capital to fund agricultural, natural resources and rural development (ANR) initiatives.
● The collaboration is aimed at enhancing food security and climate financing in India’s ANR
sector.
● Intellecap Advisory Services Private Limited will manage the TCU set up under the agreement.
● The partnership will identify and support food security and climate financing programmes in the
ANR sector.
● The projects eligible for support include climate-resilient agriculture and agroforestry projects,
irrigation modernisation projects and JIVA (agro-ecology programme for revitalising natural
resources management).
About JIVA :
● Launched by NABARD in 2022.
● JIVA is a community-based participatory programme for watershed (rainfed) and wadi (tribal)
areas, extending over 2.5 million hectares, with a funding commitment of about Rs 5,000 crore.
About NABARD :
● Headquarters : Mumbai, Maharashtra, India
● Chairman : Shri. Shaji K V
● It was established on the recommendations of B. Sivaraman Committee (by Act 61, 1981 of
Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural
Development Act 1981.
● NABARD is an apex regulatory body for the overall regulation of regional rural banks and apex
cooperative banks in India.
● It is under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI).
IndusInd Bank Divests from Nippon Life India Asset, Sells Shares Valued at Rs 795 Crore
 ● Hinduja-promoted IndusInd Bank sold its entire 2.86% stake in Nippon Life India Asset
Management for Rs 795 crore through open market transactions.
● SBI Mutual Fund (MF), ICICI Prudential MF, Bajaj Allianz Life Insurance, ICICI Prudential Asset
Management Company, Societe Generale and Morgan Stanley Asia Singapore, were among the
buyers.
● Through 13 tranches, IndusInd Bank offloaded 1,78,57,355 shares, amounting to a 2.86% stake
in Nippon Life India Asset Management (NAM-INDIA), as per the block deal data available with
the BSE.
● According to the block deal data available with the National Stock Exchange (NSE), K S
Kolbenschmidt GMBH sold 39 lakh shares, amounting to a 8.85 per cent stake in Shriram
Pistons & Rings Ltd.
About IndusInd Bank :
● Founded : April 1994
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Sumant Kathpalia.
● Tagline : We Make You Feel Richer
ETO Motors gets Rs 12.45 crore grant from SIDBI to deploy 300 electric three-wheelers in Delhi and
Hyderabad

● The Small Industries Development Bank of India (SIDBI) has granted Rs 12.45 crore to ETO
Motors to deploy 300 electric three-wheelers in Hyderabad, Telangana and New Delhi, Delhi for
first- and last-mile passenger connectivity.
● The EV maker will also build an EV charging infrastructure to support the deployment of the
electric three-wheelers.
● The objective of this scheme is to provide access to affordable financing for electric vehicles and
to develop charging infrastructure, including battery swapping.
● As part of the funding, ETO Motors is expected to set up 180 charging points in the two cities.
● The electric three-wheelers will be manufactured at ETO Motors’ capacity in Jadcherla,
Telangana which also includes a modern research and development lab.
About Small Industries Development Bank of India :
● Established : 2 April 1990
● Headquarters : Lucknow, Uttar Pradesh, India
 ● Chairman & MD : Sivasubramanian Ramann
● The SIDBI is the apex regulatory body for overall licensing and regulation of micro, small and
medium enterprise finance companies in India.
● It is under the jurisdiction of the Ministry of Finance , Government of India (GoI).

IndusInd Bank introduces ‘eSvarna’, India’s first Corporate Credit Card on RuPay network

● IndusInd Bank has launched ‘eSvarna’, the country’s first corporate credit card on the RuPay
network, enabling the private sector lender to become the first to integrate UPI functionality with a
corporate credit card.
● The card facilitates smooth transactions at merchant outlets and allows users the flexibility to
make UPI payments by linking the card with UPI-enabled apps.
● The IndusInd Bank eSvarna credit card on the RuPay network comes with an array of exclusive
perks and rewards.
● IndusInd Bank eSvarna credit cardholders can look forward to a luxurious travel experience,
including complimentary lounge access and fuel surcharge waiver.
● Corporate travellers can receive the added benefit of comprehensive travel insurance coverage
and an exclusive rewards program meticulously crafted for corporate entities, which makes this
credit card a valuable financial solution for various business transactions
RBI Strengthens Regulations for Lenders Engaging in Alternative Investment Fund (AIF) Investments

● The Reserve Bank of India (RBI) directed banks and Non-bank financial companies (NBFCs) not
to invest in any scheme of Alternative Investment Funds (AIFs).
● RBI tightens norms for banks, NBFCs and other lenders for investing in AIFs.
● This decision has been taken to curb the evergreening of stressed loans.
● The Reserve Bank has stated that new steps have been taken to stop the arrangement of new
loans to repay the old loans through AIF.
● The notification adds that in case the bank is unable to liquidate its investment within the
specified time frame, then it must make 100% provision on such investments.
● As per RBI circular, banks and NBFCs are required to assess & liquidate AIF investments within
30 days to prevent evergreening of loan exposures.
 ● Alternative investment funds (AIFs) are established or incorporated in India to collect funds from
sophisticated investors.
● The Securities and Exchange Board of India (SEBI) had informed RBI about instances of non-
bank financier’s evergreening loans through the AIF route.
● Regulated entities (REs) invest in units of AIFs as part of their regular investment operations.
● In evergreening of loans, the bank tries to revive a loan that is on the verge of default by giving
further loans to the same borrower.
➢ These instructions applied to All Commercial Banks (including Small Finance Banks, Local Area
Banks and Regional Rural Banks)
➢ All Primary (Urban) Co-operative Banks/State Co-operative Banks/ Central Co-operative Banks
➢ All All-India Financial Institutions
➢ All Non-Banking Financial Companies (including Housing Finance Companies)
● These instructions have been issued in exercise of the powers conferred by the Sections 21 and
35A of the Banking Regulation Act, 1949 read with Section 56 of the Banking Regulation Act,
1949; Chapter IIIB of the Reserve Bank of India Act, 1934 and Sections 30A, 32 and 33 of the
National Housing Bank Act, 1987.
ICICI Prudential Mutual Fund revises symbols for 28 ETF schemes

● ICICI Prudential Mutual Fund has announced changes in its 28 exchange-traded fund (ETF)
product symbols on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
● The codes will now be a combination of the name of the fund and the suffix 'IETF' (stands for
ICICI Prudential ETF).
● The move to standardise the naming convention of schemes comes in line with the Securities
Exchange Board of India's (SEBI's) master circular, which outlines the categorisation of
schemes.
About ICICI Prudential Mutual Fund :
● Founded : 1993
● Headquarters : Mumbai, Maharashtra
● MD & CEO : Mr. Nimesh Shah
● It is a joint venture between ICICI Bank and Prudential plc.
● It is the second-largest asset management company in India after the SBI Mutual Fund.
HDFC Life and NKGSB Co-Operative Bank Form Strategic Corporate Partnership
 ● HDFC Life, one of India’s leading insurers, and NKGSB Co-operative Bank Limited, having a
legacy of 106 years, have entered into a Corporate Agency tie-up enabling NKGSB Co-operative
Bank customers to avail life insurance products of HDFC Life.
● NKGSB Co-operative Bank with a Banking legacy of 106 years is delighted to enter into a
strategic and momentous alliance with HDFC Life Insurance Company to provide life insurance
solutions that cater to various needs of individuals - protection, pension, savings, investment and
annuity.
● This alliance reflects our Bank’s commitment in ensuring the well-being and financial security of
its valued customers.”
About HDFC Life Insurance Company Limited :
● Established : 2000
● Headquarters ; Mumbai, Maharashtra, India
● MD & CEO : Vibha Padalkar
● It is a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of
India's leading housing finance institutions and Abrdn, a global investment company.
About NKGSB Co-operative Bank :
● Established : 1917
● Headquarters : Mumbai, Maharashtra, India
● Chairman : Himangee C.Nadkarni
● Managing Director : Sunil Panse
● Tagline : Trusted over a century
● NKGSB Co-operative Bank is a leading multi-state co-operative bank and has always been at the
forefront of adding value to its products by establishing correspondent relationships and strategic
alliances.
RBI imposes monetary penalty on 4 Gujarat-based co-operative banks

● The Reserve Bank of India (RBI) has imposed monetary penalties on 4 co-operative banks,
ranging from Rs 50,000 to Rs 7 lakh, for some non-compliances. Entities Penalised :
1. Progressive Mercantile Co-operative Bank Limited., Ahmedabad, Gujarat: Rs 7 lakh
2. The Kutch Mercantile Co-operative Bank Ltd., Rapar, Dist. Kachchh, Gujarat: Rs 3 lakh
3. Shree Morbi Nagarik Sahakari Bank Ltd., Morbi, Gujarat: Rs 50,000
 4. Bhabhar Vibhag Nagarik Sahakari Bank Limited, Bhabhar, District Banaskantha, Gujarat: Rs
50,000

SEBI Extends Nomination Filing Deadline for Mutual Funds and Demat Accounts Until June 2024
● Capital markets regulator Securities and Exchange Board of India (SEBI) has once again
extended the deadline for mutual fund and demat account holders to add the name of the
beneficiary/beneficiaries or opt out of it till June 30, 2024.
● Earlier, the deadline for the same was December 31, 2023.
● The move is aimed at helping investors to secure their assets and pass them on to their legal
heirs.
● Nomination Filing Requirement : Investors are required to either select nominee(s) or explicitly
opt out of nomination by submitting a declaration before the extended deadline.
● Consequences of Missing Deadline : If investors fail to meet the nomination deadline, SEBI may
freeze debits from their holdings.
● Eligibility for Nomination : Only individuals holding demat accounts singly or jointly can nominate
beneficiaries.
● Nomination by Joint Holders : Joint holders are allowed to nominate, and in the event of one
holder's demise, the securities will be transferred to the surviving holders unless there is a
nominee.
● Nomination by NRIs : NRIs can directly nominate, but power of attorney holders cannot nominate
on their behalf.
● Exclusion of Minors : Minors are not eligible to nominate either directly or through a guardian.
● SEBI's Communication Directive : SEBI has instructed asset management companies (AMCs),
depository participants, and Registrar and Transfer Agents (RTAs) to regularly communicate with
demat account holders and mutual fund unit holders.
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), Government of India (GoI).
RBI permits lending and borrowing of G-Secs

● The Reserve Bank of India (RBI) announced new guidelines focused on lending and borrowing
practices of government securities.
● Aim : To deepen the market for securities lending and borrowing and enhance the depth and
liquidity of the Government Securities (G-Sec) market.
● Under newly issued guidelines, Government Securities (excluding Treasury Bills) issued by the
central government are eligible for lending or borrowing through a Government Security Lending
(GSL) transaction.
● Further, G-Secs, including Treasury Bills and state government bonds, can also be used as
collateral in GSL transactions.
● Tenure and Flexibility : The minimum tenure for a GSL transaction is 1 day, while the maximum
period would be the maximum period prescribed to cover short sales.
● The guidelines also highlighted the flexibility in using different mutually agreed trading processes
or platforms for government securities lending transactions.
● Settlement Process : On the settlement front, the RBI stated that all GSL transactions shall settle
on a Delivery versus Delivery basis.
● This move comes even as India is set to be included in the globally tracked JP Morgan’s
Government Bond Index-Emerging Markets (GBI-EM) index, starting June 28, 2024.
● Valuation and Margin : Securities/collateral under a GSL transaction shall be valued
transparently at prevailing market prices in the first leg of the transaction and haircut/ margins
relating to GSL transactions shall be decided by the central counterparty settling the transactions.
● Use of Borrowed Securities : Further, entities engaging in GSL transactions may use borrowed
securities for various purposes like sales, meeting delivery obligations, and availing the RBI's
Liquidity Adjustment Facility.
● Market Participation and Returns : This move aims to broaden participation in the securities
lending market by providing investors an option to utilise idle securities, potentially boosting
portfolio returns.
Reserve Bank of India approves IDFC-IDFC First Bank merger

● The Reserve Bank of India (RBI) has given its approval for the reverse merger of IDFC Limited
and IDFC Financial Holding Company (IDFC FHCL) with its banking subsidiary IDFC First Bank.
 ● "This is in connection with our letter dated July 03, 2023 informing about the decision taken by
the Board of Directors of IDFC FHCL, IDFC and IDFC FIRST Bank approving the proposed
Scheme under Sections 230 to 232 of the Companies Act, 2013, the Companies (Compromises,
Arrangements and Amalgamations) Rules, 2016 and other rules and regulations framed
thereunder, subject to receipt of various statutory and regulatory approvals.
● Under the planned reverse merger method, an IDFC shareholder will receive 155 shares for
every 100 shares held in the bank.
● Each share is worth Rs 10 in face value.
● IDFC originated as an infra lender in 1997.
● The RBI granted it in-principle approval to establish a bank in April 2014, and in October 2015, it
established IDFC Bank when on-tap licensing began, following which IDFC’s debts and liabilities
were transferred to the bank.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Shaktikanta Das
● Deputy governors : Mahesh Kumar Jain,M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar

SEBI proposes same-day trade settlement on optional basis

● The Securities and Exchange Board of India (SEBI) has proposed the introduction of a facility for
clearing and settlement of funds and securities on T+0 (same day) and instant settlement cycle
on an optional basis.
● The facility will be in addition to the existing T+1 (trade plus one day) settlement cycle in the
secondary markets for the equity cash segment.
● Settlement is a two-way process which involves the transfer of funds and securities on the
settlement date.
● SEBI has shortened the settlement cycle to T+3 from T+5 in 2002 and subsequently to T+2 in
2003.
● Currently, the Indian stock market follows the cycle of T+1.
● The migration to the T+1 cycle came into effect in January 2023.
 ● India became the second country in the world to start the T+1 settlement cycle in top-listed
securities after China.
● In addition to the existing T+1 settlement cycle, a shorter settlement cycle may be introduced as
an option.
● The proposed changes are planned to be implemented in two phases.
★ Phase 1 - T+0 Settlement Cycle :
● An optional T+0 settlement cycle (for trades till 1:30 PM) is envisaged, with settlement of funds
and securities to be completed on the same day by 4:30 PM.
★ Phase 2: Instant Settlement Cycle
● An optional immediate trade-by-trade settlement (funds and securities) may be carried out. In the
second phase, trading will be carried out till 3.30 pm.
● Benefits of Instant Settlement : An instant settlement mechanism would enable instant receipt of
funds and securities, vis-a-vis existing pay-out on T+1 day.

AWARDS AND HONOUR

NATIONAL METALLURGIST AWARDS
• The National Metallurgist Award was announced.
• This award was announced by the Union Steel Ministry.
• Union Minister of State for Steel, congratulated the five distinguished metallurgists on being
conferred with coveted NMA 2022 in four categories.
The awardees and categories:-
• Dr Kamachi Mudali Uthandi - Lifetime Achievement Award
• Dr Debashish Bhattacharjee - National Metallurgist Award
• Dr Rameshwar Sah - R&D in Iron & Steel Sector
• Dr Niloy Kundu - Young Metallurgist (Environment) Award
• Agilan Muthumanickam - Award Young Metallurgist (Metal Science) Award
• India's production and consumption of steel during April-October 2023 YoY has grown by 15% to
about 82 million tonnes and 75.8 million tonnes respectively.
• India has achieved the status of 2nd largest steel producer globally.
Rizz crowned Oxford Word of the Year 2023
• After over 30,000 language lovers around the world got involved to help refine our shortlist of eight
words, we are pleased to announce that the Oxford Word of the Year 2023 is rizz.
 • This year, we created a shortlist of eight words, all chosen to reflect the mood, ethos, or
preoccupations of the past year, and put them to the public to vote for their favourites.
• Through head-to-head competitions over a four-day voting period, the public narrowed down our
shortlist of worthy contenders to four finalists: rizz, Swiftie, prompt, and situationship. These words
were then put to our language experts, who considered our corpus data, the vote counts, and the
public commentary around the words to choose the definitive word of the year for 2023.
• .
Sheetal Devi win best young athlete award in APC conference
• Riyadh, (IANS) Hangzhou 2022 Asian Para Games gold medallist Asila Mirzayorova from
Uzbekistan and the winner of China’s historic first cross-country skiing gold medal, Peng Zheng
were announced as best female and best male athlete at the fourth edition of Asian Awards at an
awards ceremony during the Asian Paralympic Committee’s Conference and General Assembly.
• India’s Sheetal Devi, the ‘armless archer’ who went viral after her performances in Hangzhou
picked up the best youth athlete.
• Award winners were announced in six categories – Best Male Athlete, Best Female Athlete, Best
Youth Athlete, Best Team Performance, Best Photography and Exemplary Asian Official.
• The best photography award went to Masamine Kawaguchi from Japan for his images from Beijing
2022 Winter Paralympic Games which captured the dynamism, skill, and speed of the downhill
skiers.
NCRTC bags award for “Environmental Initiatives of Tunnelling” at TAI Tunnelling Awards 2023
• National Capital Region Transport Corporation (NCRTC) bagged the award in “Environmental
Initiatives of Tunnelling” category at the 4th edition of the prestigious TAI Tunnelling Awards 2023,
organised by the Tunnelling Association of India.
• National Capital Region Transport Corporation (NCRTC) won the 4th edition of the prestigious TAI
Tunnelling Awards 2023, organised by the Tunnelling Association of India.
• The NCRTC team was awarded under the “Environmental Initiatives of Tunnelling” category.
These awards celebrate the most ambitious underground projects in India as well as the latest
innovations, techniques, and methods in tunnelling.

Former Somali Refugee Wins Prestigious UN Award

• Abdullahi Mire of somalia has been named the winner of the UNHRC’s prestigious Nansen Award.
 • Abdullahi Mire has received the award for giving 1,00,000 books to the hands of children in
Kenya’s crowded Dadaab refugee camps.
• Abdullahi Mire has spent 23 years in Dadaab, where 90,000 refugees reside.

Safeena Husain, Founder of Educate Girls, honoured with the WISE Prize for Education
• The prestigious WISE Award was honoured to Safina Hussain at the WISE 11 Summit (World
Innovation Summit for Education).
• The WISE Prize for Education is the first global award of its kind that honours an individual for
outstanding contributions to education.
About WISE Prize
• The WISE prize was established in 2009 by the Qatar Foundation under the visionary leadership of
its Chairperson, Her Highness Sheikha Moza bint Nasser.
• WISE (World Innovation Summit for Education) has evolved into an international, multi-sector
platform dedicated to promoting innovation and evidence-based approaches in education.

PR Icon Suganthy Sundararaj Receives PRSI National Award for Outstanding Contributions to
Healthcare Communications
• Suganthy Sundararaj received the PRSI National Award for Outstanding Contributions to
Healthcare Communications.
• She received the honour for Outstanding Contributions to the Public Relations Society of India and
the public relations industry.
• Suganthy Sundararaj received the Award at the International Public Relations Festival in New
Delhi.
• This event has brought together professionals and young minds from the PR space to facilitate
knowledge exchange.
• The Festival this year is being organized around the theme ‘G20: Showcasing Indian Values and
The Emerging India to the World: Opportunities for Public Relations’.
Taylor Swift named Time’s ‘Person of the Year’
• Taylor Swift is ending her year with another accolade: The pop superstar was named Time
magazine’s 2023 “Person of the Year,” beating out Barbie and King Charles III.
• Time said Swift was selected because she found a way to give people around the world hope in
some seriously dark times.
 • Swift broke her own Spotify record by becoming the most-streamed artist in a single day in the
streamer’s history, while “1989 (Taylor’s Version)” became Spotify’s most-streamed album in a
single day this year.
• Ukrainian President Volodymyr Zelensky was Time’s 2022 person of the year.
• Taylor Swift was named TIME’s 2023 Person of the Year—making her the first woman to appear
twice on a Person of the Year cover since the franchise began in 1927.
NTPC Wins Two Silver Awards in Brandon Hall Group’s Excellence in Technology Awards
• NTPC, India’s largest integrated power company, has been declared as the winner at the Brandon
Hall Group’s Excellence in Technology Awards 2023 in an online broadcast held.
• NTPC stands out as the only PSU in India to secure dual accolades in the Technology Awards
category.
• The company received the coveted silver awards in two distinct categories: "Best Advance in
Corporate Wellbeing Technology" and "Best Advance in Augmented and Virtual Reality."
• This recognition underscores NTPC's commitment to innovation and technological excellence,
placing it at the forefront of advancements in corporate wellbeing and immersive technologies.
2022 FIFA World Cup winner Lionel Messi named Time Magazine's Athlete of the Year for 2023
• Football superstar Lionel Messi has been named as Time Magazine's 2023 Athlete Of The Year.
• The 36-year-old won his record-extending eighth Ballon d'Or Award in October, and scored 11
goals in 14 games across competitions for Inter Miami - after joining them in July - to 4help the
Major League Soccer (MLS) club lift the Leagues Cup trophy for the first time.
• Argentina defeated the reigning champions France in the World Cup final in December of last year,
Messi was a major factor in leading his country to its first victory in 36 years.
Writer Pushpa Bharati’s memoir selected for Vyas Samman award
● Pushpa Bharati’s from Moradabad of Uttar Pradesh 2016 memoir ‘Yaadein, Yaadein aur Yaadein’
has been selected for the 33rd Vyas Samman.
● The award is presented to an outstanding Hindi literary work by an Indian citizen published during
the last 10 years.
● A selection committee headed by eminent litterateur Prof Ramji Tiwari picked Bharati’s Yaadein,
Yaadein aur Yaadein for the Vyas Samman award.
● The award carries a cash prize of ₹4 lakh, a citation and a plaque.
● The Vyas Samman Award was instituted in 1991. It is given by the KK Birla Foundation.
Kabir Bedi feted with Italy's highest civilian honour
● Kabir Bedi has been honoured with the highest civilian honour of Italy.
● He was awarded the Order of Merit of the Italian Republic (Merito della Repubblica Italiana).
● Niccolo Fabi gave a unique live musical performance following the occasion in Mumbai.
● The Order of Merit is Italy’s highest honour.
● It’s even higher than Cavaliere (Knight).
Javed Akhtar to be felicitated with Padmapani Lifetime Achievement Award at the Ajanta-Ellora Film
Festival
● Veteran lyricist-screenwriter Javed Akhtar will be honoured with the Padmapani Lifetime
Achievement Award at the Ajanta-Ellora Film Festival.
● The award ceremony will take place at Rukmini Auditorium in the MGM University campus.
● The Padmapani Award selection committee comprises Girish Kasarvall, Ashok Vajpeyi, Latika
Padgaonkar, Ashok Rane and Chandrakant Kulkarni.
● Ajanta-Ellora International Film Festival is to showcase the best of film produced recently and in the
past.
● It is organized by Marathwada Art Culture and Film Foundation.
● It will be organized by 3rd-7th January, 2024.
Activist Ali Abu Awwad and pianist Daniel Barenboim win the Indira Gandhi Peace Prize
● 2023 Indira Gandhi Prize for Peace, Disarmament, and Development awarded to Ali Abu Awwad
and Daniel Barenboim.
● The award has been given for their efforts in bringing together the youth and peoples of Israel and
the Arab World for a non-violent resolution of the Israel-Palestine conflict.
● Former Chief Justice of India T.S. Thakur chaired the International Jury of the Indira Gandhi Prize for
Peace, Disarmament and Development.
● Maestro Barenboim is an Argentine-born, distinguished classical pianist and conductor, renowned
for performing with and directing some of the world's leading orchestras.
● Mr. Awwad is a distinguished Palestinian peace activist who has been working tirelessly with the
people of Palestine and Israel for a peaceful resolution to the ongoing conflict in the Middle East.
● This award is given to doctors, nurses, paramedics, and karamchari for their selfless service,
unwavering dedication, and perseverance in the face of adversity.
● The award is given annually by the Indira Gandhi Memorial Trust to individuals or organizations.
● The award carries a cash award of 2.5 million Indian rupees and a citation.
Indian Armed Forces officers awarded ‘Golden Owl’ for outstanding performance at DSCSC Sri Lanka
● Indian Armed Forces officers have been awarded the 'Golden Owl' for their outstanding
performance.
● The officers were undergoing the Command and Staff Course at the Defence Services Command
and Staff College (DSCSC) in Sri Lanka.
● The DSCSC course is designed to prepare senior officers for leadership roles in joint operations and
higher command.
● The award was given to Wing Commander Sumeet Mahajan, Major Rohit and Lieutenant
Commander Sunny Sharma by Sri Lankan President Ranil Wickremesinghe.
● The “Golden Owl” award admires strategic thinking, analytical skills and potential for future
leadership.
● Recently, the joint military exercise between India and Sri Lanka concluded at the Southern
Command Foreign Training Node, Aundh in Pune.
ET Awards for Corporate Excellence: Levers of growth meet shades of talent at Chanel
● Leena Nair, the global CEO of luxury brand Chanel, has several significant firsts to her credit.
● At Unilever, Nair, 54, was the first woman to lead global human resources. And then, Chanel
appointed her as its first global CEO of Indian origin.
● She was a fashion industry outsider when picked by the French fashion house to lead it in 2022.
● She has been chosen for the Global Indian Award.
● The State Bank of India, the country’s largest lender, bagged the coveted Company of the Year
award in a unanimous vote for its spectacular turnaround from heavy losses a few years ago.
● The power-packed jury headed by Tata Sons chairman N Chandrasekaran picked external affairs
minister S Jaishankar as Reformer of the Year for his stellar efforts in defending and furthering
India’s economic and trade interests amid a geopolitical minefield.
● The Lifetime Achievement Award went to AM Naik, chairman emeritus, Larsen & Toubro, for building
the company into an economic bellwether of the country with a presence across defence,
manufacturing, technology and construction.
● HDFC Bank was selected as the Conscious Corporate of the Year for using its Rs 800 crore
corporate social responsibility (CSR) corpus for community development.

Former bureaucrat Poonam Khetrapal Singh honoured by Bhutanese King

● Dr Poonam Khetrapal Singh has been awarded Bhutan’s National Order of Merit Gold Medal.
● Dr Poonam Khetrapal Singh is the WHO Regional Director (South-East Asia).
● The King of Bhutan Jigme Khesar Namgyel Wangchuk honoured her at Bhutan’s 116th National Day
celebration.
● She is the first woman regional director of the WHO South-East Asia region.
● During her tenure, Bhutan became one of the first countries to eliminate measles and rubella ahead
of schedule.
UNESCO award for Amritsar's Rambagh Gate & Ramparts, Gurdaspur’s Peepal Haveli
• UNESCO has awarded Rambagh Gate and Ramparts in Amritsar, Punjab.
• It has also awarded heritage conservation projects related to Haryana's Church of Epiphany and
Delhi's Bikaner House.
• The Rambagh Gate and Ramparts project received the highest honor, the 'Award of Excellence'.
• It received the award for its inclusivity and access to the broader community.
• Three projects, namely the Fanling Golf Course in Hong Kong SAR, China; Dongguan Garden
Residences in Yangzhou, China; and Karnikara Mandapam at Kunnamangalam Bhagawati Temple,
Kerala, India, garnered an Award of Distinction
• Every year, since 2000, the UNESCO Asia-Pacific Awards for Cultural Heritage Conservation
programme has been recognizing the efforts of private individuals and organizations in restoring,
conserving, and transforming structures and buildings of heritage value in the region.
• This year, the awards panel recognised twelve projects from China, India, and Nepal.
• Five projects are from China, six are from India, and one is from Nepal.
Poet Sukrita Paul Kumar bags Tagore Literary Prize
• Sukrita Paul Kumar has won the sixth edition of the Rabindranath Tagore Literary Prize for her book,
'Salt & Pepper: Selected Poems'.
• She received USD 5,000, a Tagore statue and a certificate for contribution to literature at the award
ceremony.
• The award was started in 2018 by US-based publisher Peter Bundalo.
• The award is a platform for world peace, literature, art, education and human rights.
• It also recognises works towards human rights and world peace with the Social Achievement Prize.
• Journalist-author Raj Kamal Jha won the prize last year for his novel 'The City and The Sea'.
ISRO bags Leif Erikson Lunar Prize for Chandrayaan-3
● ISRO has been awarded the Leif Erikson Lunar Prize by the Husavik Museum for its achievements
in advancing lunar exploration and contributing to understanding celestial mysteries through the
successful Chandrayaan-3 mission.
● The Leif Erikson Lunar Prize is an annual award presented by the Exploration Museum in Husavik,
Iceland.
● It is dedicated to the history of human exploration, from the early explorers to the exploration of
space.
● It is named after the Icelandic explorer Leif Erikson who is considered the first European to land in
North America.
About Indian Space Research Organisation
● Headquarters: Bengaluru
● Founder: Vikram Sarabhai
● Founded: 15 August 1969
Mumbai professor wins prestigious award for contribution to chemistry
● Professor Savita Ladage from Mumbai’s Homi Bhabha Centre for Science Education (HBCSE), Tata
Institute of Fundamental Research (TIFR) has been named winner of the Royal Society of
Chemistry’s (RSC) Nyholm Prize for Education in recognition of her contribution to chemistry
education.
● It is awarded to inspirational, innovative and dedicated individuals or teams making a substantial and
sustained impact within education.
● This prize was established to commemorate the life and work of Sir Ronald Nyholm, president of the
Royal Society of Chemistry from 1968 to 1970.
● For 2023, the prize was open to nominees based anywhere in the world.
● The winner(s) receives £5000, a medal and a certificate.
● The winner(s) will complete a series of lectures or workshops in the UK.
● The winner(s) will be chosen by the Education Prize Committee.

APPOINTMENTS & RESIGNATIONS

Madagascar Court Upholds Andry Rajoelina's Presidential Election Victory
• Madagascar's Constitutional Court has confirmed President Andry Rajoelina re-election following a
controversial election a fortnight ago.
• The court said Mr Rajoelina secured 59% of the votes cast, declaring him elected for a third term.
• It dismissed complaints by the opposition over the credibility of the vote, which recorded a low
turnout of 46%.
 • 10 out of 13 presidential contenders had withdrawn their candidacies but their names remained on
the ballot.
• Mr Rajoelina defeated his two closest rivals, Siteny Randrianasoloniaiko and ex-President Marc
Ravalomanana, who got 14% and 12% of the vote respectively.
About Madagascar :
• Capital: Antananarivo
• Currency: Malagasy Ariary.

Pradeep Kumar Pal (IRSSE) Assumes Director Role at UPSC

• Pradeep Kumar Pal, an officer from the Indian Railway Service of Signal Engineers (IRSSE) of the
2009 batch, has been selected for the position of Director in the Union Public Service Commission
(UPSC).
• According to an order issued from the Department of Personnel & Training (DoPT), Pal has been
selected for the appointment under the Central Staffing Scheme for a period of 5 years from the
date of taking over charge of the post or until further orders, whichever event takes place earlier.
About UPSC :
• Founded: 1 October 1926
• Headquarters : New Delhi, Delhi
• Chairperson: Manoj Soni.
• Union Public Service Commission, commonly abbreviated as UPSC, is India's premier central
recruitment agency for recruitment of all the Group 'A' officers under Government of India.
Microsoft hires ex-OpenAI leaders Altman and Brockman to lead new AI group
• Microsoft’s Chief Executive Officer (CEO) Satya Nadella, stated that the company has hired
OpenAI co-founders Sam Altman and Greg Brockman to lead a new advanced AI research team.
• The announcement followed closely after OpenAI's board of directors stated that Sam Altman
would not be returning to his position at OpenAI.
• The sudden removal of Sam Altman surprised not only OpenAI's employees but also major
investors, including Microsoft.

Air Force officer Manisha Padhi appointed as India’s first woman Aide de Camp
 • Mizoram Governor Dr Hari Babu Kambhampati has appointed a woman Indian Air Force officer
from Odisha, squadron leader Manisha Padhi, as India's first Woman Aide-De-Camp (ADC) from
the Indian Armed Forces at a brief ceremony held at the Raj Bhawan in Aizawl.
About Manisha Padhi :
• Padhi is a 2015-batch Indian Air Force officer.
• Previously, Sqn Leader Manisha Padhi was posted to three postings - Air Force Station, Bidar, Air
Force Station, Pune, and lastly at Air Force Station, Bhatinda.

HDFC Bank’s board approves appointment of Bhanwala as Additional Independent Director

• The Board of Directors of HDFC Bank has approved the appointment of Harsh Kumar Bhanwala
as an Additional Independent Director of the Bank for 3 years from January 25, 2024.
• The Board has also given the green light to the appointment of V Srinivasa Rangan as Executive
Director (Whole-time Director) for 3 years, effective from November 23, 2023.
About HDFC Bank :
• Founded : 1st July 2023 (via the merger between HDFC-HDFC bank)
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sashidhar Jagdishan
• Tagline : We Understand Your World
Veera Rana Creates History as Second Female Bureaucrat Appointed Chief Secretary of Madhya
Pradesh
• Senior Indian Administrative Service (IAS) officer Veera Rana, from the 1988 batch, has been
appointed the Chief Secretary of Madhya Pradesh (MP) as an additional charge.
• Veera Rana's appointment marks the 2nd time a woman officer has taken on the role of Chief
Secretary in Madhya Pradesh.
• The first woman to hold this position was Nirmala Buch, a 1960 batch officer, during the BJP
government in 1991.
About Veera Rana :
• Veera Rana was born on March 26, 1964, in Uttar Pradesh.
• She has held the portfolios of Chief Electoral Officer, Sports and Youth Welfare, Academy of
Administration and Department of Cottage and Village Industries.
• She is currently the chairperson of the Madhya Pradesh Board of Secondary Education (MPBSE)
and holds the additional charge of agriculture production commissioner.
Rajat Kumar Jain was appointed as the Chairman of Fino Payments Bank
• Mumbai-based Fino Payments Bank has received approval from the Reserve Bank of India (RBI)
for the appointment of former managing director of Xerox India and Walt Disney India, Rajat Kumar
Jain, as its part-time chairman.
• The RBI has approved the appointment with effect from November 24, 2023 till November 1, 2025.
About Rajat Kumar Jain :
• Rajat Kumar Jain, an alumnus of IIT Delhi and IIM Ahmedabad, is an accomplished corporate
executive turned entrepreneur, business mentor/angel investor and serves as a non-executive
director on various Boards including group companies of Aditya Birla and Mahindra conglomerates.
• He is the Founder and Director of PadUp Ventures, a knowledge and mentoring platform that
provides deep mentoring, incubation, and acceleration services to early-stage tech startups across
sectors, including Fintech.
About Fino Payments Bank :
• Established : 2017
• Headquarters: Navi Mumbai, Maharashtra
• MD & CEO : Rishi Gupta

AS-IT-IS Nutrition Appoints Ravindra Jadeja, Indian Cricket Sensation, as Brand Ambassador
• AS-IT-IS Nutrition, a trusted leader in the fitness and sports nutrition sector, has signed Ravindra
Jadeja, the celebrated Indian cricketer, to their distinguished brand ambassador lineup.
• AS-IT-IS Nutrition stands out for its commitment to delivering nutritional products in their most
natural form, without any added fillers or additives.
About AS-IT-IS Nutrition :
• Founders : Arvind Jain, Himmath Jain
• Director : Pavan Jain

Congress Designates Revanth Reddy as Chief Minister Candidate for Telangana

• Telangana Congress President, Anumula Revanth Reddy, appointed as the new Chief Minister of
Telangana.
• Revanth Reddy was named the Leader of the Congress Legislature Party (CLP), marking his
 ascent as the first Congress Chief Minister of Telangana, a State formed in 2014.
• The swearing-in ceremony is scheduled for December 7, 2023 in Hyderabad, where Revanth
Reddy will officially take office.
• He would be sworn-in as the second chief minister of Telangana, which was carved out from
Andhra Pradesh in 2004, on December 7 in Hyderabad, succeeding K Chandrashekar Rao (KCR).

About Revanth Reddy :

• Revanth Reddy was born on 8 November 1969 at Kondareddy Palli of Mahboobnagar district (in
present-day Nagarkurnool district, Telangana, India).
• He was elected as MLA from Kodangal constituency on Telugu Desam Party (TDP) ticket in 2009
and 2014.
• In 2017, he defected to Indian National Congress, the main opposition party after 2014 elections.
• Though he lost his Kodangal MLA seat in 2018, he was elected as a Member of Parliament (MP)
representing the Malkajgiri constituency in 2019.
• He was appointed as president of Telangana Pradesh Congress Committee replacing N. Uttam
Kumar Reddy in July 2021.
About Telangana:
• Capital: Hyderabad
• Governor: Tamilisai Soundararajan
Vishnu Deo Sai to be sworn in as Chief Minister of Chhattisgarh
• Bharatiya Janata Party leader Vishnu Deo Sai will take oath as the new Chhattisgarh chief minister
on December 13, 2023 in Raipur.
• He will be the 4th Chief Minister of the state and the 1st tribal Chief Minister.
• Sai hails from the influential Sahu (Teli) community which has a sizable presence in Durg, Raipur
and Bilaspur divisions.
• The BJP won 54 seats in the 90-member Assembly in the recently held polls, unseating the
Bhupesh Baghel-led Congress government. The Congress ended with 35 seats, down from 68 it
won in 2018.
About Vishnu Deo Sai :
• Vishnu Deo Sai served as State President of Bharatiya Janata Party for Chhattisgarh from 2020
until 2022.
• He was Union Minister of State for Steel in the First Modi ministry.
 • He was a member of the 16th Lok Sabha representing the Kunkuri constituency of Chhattisgarh.
About Chhattisgarh :
• Governor : Biswabhusan Harichandan
• Capital : Nava Raipur
• National park : Indravati National Park
• Wildlife Sanctuaries : Barnawapara Wildlife Sanctuary, Sitanadi Wildlife Sanctuary

World Radiocommunication Conference 2023 appoints UAE's Mohammed Al Ramsi as Chairman

• The United Arab Emirates’s (UAE) Mohammed Al Ramsi appointed as the Chairman of the World
Radiocommunication Conference (WRC) 2023.
• This appointment marks the fulfilment of the decision taken by the WRC during its last session in
Sharm El Sheikh, Egypt in 2019.
• This conference started from 20th November and will continue till 15th December in Dubai, UAE.
• This year, more than 4,000 government officials and 900 international organisations from 193
countries are attending the conference.
About UAE :
• President : Mohamed bin Zayed Al Nahyan
• Prime Minister : Mohammed bin Rashid Al Maktoum
• Capital : Abu Dhabi
• Currency : UAE dirham

Narayan Sheshadri appointed as IDRCL chair & incumbent Diwakar Gupta to head NARCL
• Former KPMG managing partner Narayan Seshadri will take over as chairman of the India Debt
Resolution Co Ltd (IDRCL), the agent to the government-backed bad bank.
• The IDRCL chairman position became vacant after Diwakar Gupta resigned earlier this week to
take up a post at parent National Asset Reconstruction Co Ltd (NARCL).
• Seshadri, a chartered accountant, is a financial sector veteran with experience in buying and
turning around distressed companies.
• He is currently an independent director in the company and will take over immediately.
Kanchan Devi Makes History as First Female Officer Appointed as Director General of ICFRE
 • Kanchan Devi has become the first woman Director General of the Indian Council of Forestry
Research Education (ICFRE).
• Kanchan Devi is an Indian Forest Service officer from the 1991 batch of the Madhya Pradesh
cadre.
• She brings to her new role an impressive track record of over 30 years in the realm of forestry.
• Her extensive expertise spans a myriad of aspects, including forest management, administration,
education, human resource development, research, and extension.
• She played an important role in setting up the Centre of Excellence on Sustainable Land
Management.
About ICFRE :
• Established : 1986
• Headquarters : Dehradun, Uttarakhand.
• Indian Council of Forestry Research Education is an autonomous organisation under the Ministry
of Environment, Forest and Climate Change (MoEFCC), Government of India. .
• It plays an important role in advising on forestry research and technologies to the Government of
India, State Governments and various stakeholders including farmers, industries and academia.
• It explores new issues in the realm of forest conservation.
ZPM Chief Lalduhoma Set to Take Oath as New Chief Minister of Mizoram
• Lalduhoma will take oath as the 6th Chief Minister (CM) of Mizoram.
• His swearing-in ceremony will be held at Raj Bhawan in Aizawl.
• Governor Hari Babu Kambhampati will administer the oath to Mr Lalduhoma.
• During the ceremony, several other ZPM leaders also took oath as ministers.
• Lalrinpuii is the lone woman minister in the 12-member council of ministry.
• 7 of the 12 ministers are first time winners.
• The other ministers who took oath include, K. Sapdanga, Vanlalhlana, C. Lalsawivunga,
Lalthansanga, Dr. Vanlalthlana, P.C. Vanlalruata, Lalrinpuii, all cabinet ministers rank F.
Rodingliana, B. Lalchhanzova, Prof. Lalnilawma and Lalnghinglova Hmar, all ministers of state
rank.

About Mizoram :
• Governor : Kambhampati Hari Babu
• Capital : Aizawl
 • Tiger Reserve : Dampa Tiger Reserve
• National Park : Murlen National Park, Phawngpui Blue Mountain National Park
• Wildlife Sanctuaries : Khawnglung Wildlife Sanctuary, Ngengpui Wildlife Sanctuary, Tokalo Wildlife
Sanctuary
• Ramsar Site : Pala Wetland

India-born media veteran Dr. Samir Shah appointed as the new chairman of the BBC
• Dr Samir Shah, an India-born media executive with over 40 years of experience in TV production
and journalism, has been named as the United Kingdom (UK) government's preferred candidate to
take over as the new BBC chairman.
• Dr Shah will replace Richard Sharp, who was forced to resign after his communication with former
prime minister Boris Johnson came under scrutiny.
• Shah will now be quizzed by cross-party MPs of the House of Commons Media Culture, Media and
Sport Select Committee for pre-appointment scrutiny before formally taking charge of the public
service broadcaster.

Hindustan Unilever Limited Appoints Former Revenue Secretary Tarun Bajaj as Independent Director
for a 5-Year Term
• Hindustan Unilever Limited (HUL) has appointed Tarun Bajaj (61) as an independent director on its
board, effective 1st December 2023, for a period of 5 years.
• Bajaj belongs to the Indian Administrative Service, 1988 batch, Haryana Cadre.
• He was the Revenue Secretary, Govt of India before superannuating in November 2022.
• He also contributed towards a significant increase in revenue collections under GST and Income
Tax.
•

About HUL :
• Headquarters : Mumbai, Maharashtra
• MD & CEO : Rohit Jawa
• Hindustan Unilever Limited is a British-owned Indian Final goods company.
• It is a subsidiary of the British company Unilever.
• Its products include foods, beverages, cleaning agents, personal care products, water purifiers and
other fast-moving consumer goods (FMCGs).
Mohan Yadav Takes Oath as the 19th Chief Minister of Madhya Pradesh
● Mohan Yadav, the BJP legislature party leader and MLA from Ujjain South, was sworn in as the
19th Chief Minister of Madhya Pradesh (MP) replacing Shivraj Singh Chouhan.
● The 58-year-old leader was administered the oath of office by Governor Mangubhai Patel at the
Lal Parade Ground in State capital Bhopal, MP.
● BJP legislators Jagdish Devda and Rajendra Shukla were sworn in as the Deputy Chief Ministers
by the Governor.
● Mr. Tomar will be the next Assembly Speaker.
Donald Tusk elected as the new Prime Minister of Poland
● After current leader Mateusz Morawiecki lost a confidence vote in parliament, Donald Tusk was
elected as the new Prime Minister (PM) of Poland.
● Donald Tusk received 248 votes in favour while 201 voted against him.
● The reign of the outgoing right-wing populist Law and Justice (PiS) party witnessed numerous
disputes with the EU over many issues.
About Poland :
● President : Andrzej Duda
● Capital : Warsaw
● Currency : Polish Zloty
Indian social activist Nikhil Dey was named as International Anti-Corruption Champion by US State
Department
● Nikhil Dey, an Indian social activist, has been named as the International Anti-Corruption
Champion by the US State Department.
● The US Bureau of International Narcotics and Law Enforcement Affairs stated that it recognises
Dey as an Anti-Corruption Champion for his important role in social movements aimed at
transparency and accountability, public audits, and participatory democracy to counter corruption
in government welfare programmes in India.
● Dey's efforts as a co-founder of Mazdoor Kisan Shakti Sangathan (MKSS) contributed to anti-
corruption and transparency reforms in India, assisting the state of Rajasthan in establishing
public policies that promote accountability and transparency.
Parama Sen appointed as a part-time member of the Pension Fund Regulatory and Development
Authority board
● The Centre has appointed Parama Sen, Additional Secretary, Department of Expenditure in the
 Finance Ministry, as a part-time member of the Pension Fund Regulatory and Development
Authority (PFRDA).
● All three part-time member positions on the PFRDA board have been filled.
● Sen, a 1994 batch Indian Audit and Accounts Services (IAAS) officer, replaces Anne George
Mathew, Additional Secretary in the Finance Ministry, who demitted office this year.
About PFRDA :
● Established : 2003
● Headquarters : New Delhi, Delhi
● Chairman : Deepak Mohanty
● PFRDA is the regulatory body for the overall supervision and regulation of pensions in India.
● It operates under the jurisdiction of the Ministry of Finance in the Government of India.
Guinea-Bissau president reappoints Geraldo Martins as Prime Minister
● Guinea-Bissau’s President Umaro Sissoco Embalo has reappointed Geraldo Martins as prime
minister (PM) after dissolving his government.
● Geraldo Martins was first appointed prime minister in August, 2023.
About Guinea-Bissau :
● President : Umaro Sissoco Embaló
● Capital : Bissau
● Currency : West African CFA franc
Israeli Ministry of Foreign Affairs Designates Reuven Azar as New Ambassador to India
● The Israeli government approved the appointment of Reuven Azar as the new Ambassador to
India.
● Mr. Azar will also concurrently serve as the non-resident Ambassador to Sri Lanka and Bhutan.
● His appointment is one of the 21 new Heads of Missions cleared by the Israeli government to
assume service soon.
● Azar was born in Argentina and has a diverse and extensive background in various diplomatic
roles.
● Mr. Azar is currently serving as the Ambassador of Israel to Romania.
About Israel :
● President : Isaac Herzog
● Prime Minister : Benjamin Netanyahu
● Capital : Jerusalem
 ● Currency : New shekel
India’s Uma Sekhar gets elected to Governing Council of UNIDROIT
● In a historic moment for India, India’s first woman candidate, Ms. Uma Sekhar secured a
remarkable victory by garnering 45 out of 59 votes in the initial round of elections for the
Governing Council of the International Institute for the Unification of Private Law (UNIDROIT)
held in Rome, Italy.
● With this, India will be a member of the Governing Council for the period from 1 January 2024- 31
December 2028.
● Notably, the Governing Council consists of 25 positions, all of which are held by distinguished
legal experts.
● The candidates from Russia, the United States of America (USA) and China failed to win
positions on the governing council.
● In the election, there were 32 contestants in the fray including those from the USA, China, Saudi
Arabia, Turkey, France, and others.
About UNIDROIT :
● Headquarters : Rome, Italy
● Secretary General : Professor Ignacio Tirado
● Members : 65 Member States
● UNIDROIT is an intergovernmental organization whose objective is to harmonize private
international law across countries through uniform rules, international conventions, and the
production of model laws, sets of principles, guides and guidelines
● Its purpose is to study needs and methods for modernising, harmonising and co-ordinating
private and in particular commercial law as between States and groups of States and to
formulate uniform law instruments, principles and rules to achieve those objectives.
● Structure : It has an essentially three-tiered structure, made up of a Secretariat, a Governing
Council and a General Assembly.
● The Secretariat is the executive organ of UNIDROIT responsible for carrying out its Work
Programme from day to day.
● It is headed by a Secretary-General appointed by the Governing Council on the nomination of the
President of the Institute.
● The General Assembly is the ultimate decision-making organ of UNIDROIT.
● India has been a member of this organisation since 1950.
RBI Grants Approval for 2-Year Extension of Sandeep Batra as Executive Director at ICICI Bank

● The Reserve Bank of India (RBI) has approved the reappointment of Sandeep Batra as
Executive Director of ICICI Bank, effective from December 23, 2023, to December 22, 2025.
● This renewed term of two years is within the five-year term previously approved by the
shareholders.
● Batra is an ED on the Board of ICICI Bank and has been responsible for the Corporate Centre
since July 2018.
● He also serves on the board of ICICI Prudential Life Insurance, ICICI Lombard General
Insurance, ICICI Prudential Asset Management and ICICI Venture.
About ICICI Bank :
● Founded : 5 January 1994
● Headquarters : Mumbai , Maharashtra, India
● MD & CEO : Sandeep Bakhshi

Sanjay Singh elected as new president of Wrestling Federation of India

● Sanjay Kumar Singh has won the election for the new president of the Wrestling Federation of
India (WFI).
● He got 40 votes in the election.
● The other applicant, Commonwealth Games gold medal-winning wrestler Anita Sheoran got 7
votes.
● Mr Singh is also the vice president of the Uttar Pradesh (UP) Wrestling Association.
● He previously served on the WFI’s executive council.
● He has also been its joint secretary since 2019.
● He will succeed controversial Brij Bhushan Sharan Singh as WFI chief.
● Brij Bhushan Sharan Singh was forced to resign from his position after some wrestlers made
accusations against him.
About WFI :
● Established : 1967
● Headquarters : New Delhi, Delhi
 ● President : Sanjay Kumar Singh
● The Wrestling Federation of India is the governing body of wrestling in India.

Quaker ropes in celebrity couple Kiara Advani and Sidharth Malhotra as brand ambassadors

● satPepsiCo India has roped in celebrity couple Kiara Advani and Sidharth Malhotra brand
ambassador for brand Quaker.
● The new brand ambassadors will play a pivotal role in forthcoming campaigns and launches
deepening engagement with the audiences.
● Quaker Oats was launched in India in 2006.
● The range includes Quaker Plain Oats, Quaker Oats Multigrain, Quaker Oats with Flavour Mix
and Quaker Oats Muesli.

Satish Kumar Kalra Appointed as Interim Managing Director & Chief Executive Officer of North East
Small Finance Bank

● Bengaluru-based fintech Slice-backed North East Small Finance Bank (NESFB) has appointed
Satish Kumar Kalra as its interim Managing Director (MD) and Chief Executive Officer (CEO).
● The appointment has been approved by the Reserve Bank of India (RBI).
● The ownership of the merged entity primarily rests with Slice shareholders, holding a 95-97%
stake, while the remainder belongs to North East SFB shareholders.
● Slice, backed by investors like Tiger Global, Insight Partners, EMVC and Blume Ventures, was
valued at approximately USD 1.5 billion in its latest funding round in 2022.
● Kalra served as the Managing Director & CEO (In-charge), and Executive Director of Andhra
Bank from 2012 to 2017.
● He has also served as an independent director at Lakshmi Vilas Bank from Dec 2019 to May
2021.
● Kalra's prior roles include independent director positions at PNB GILTS, Indbank Merchant
Banking Services, JK Cement and CAN FIN Homes.
● Currently, he is an independent director at Can Fin Homes Limited.

SEBI approves appointment of ex-IAS Pramod Agrawal as BSE Chairman

 ● The Securities and Exchange Board of India (SEBI) has given its nod to the appointment of
Pramod Agrawal, the former Chief of Coal India, as the Chairman of the Bombay Stock
Exchange (BSE).
● His appointment will become effective from January 17, 2024.
● He will take the place of SS Mundra, who was appointed as BSE chairman in May 2022.
● Pramod Agrawal, a distinguished former Indian Administrative Service (IAS) officer of the
Madhya Pradesh cadre, brings a diverse professional background to his new role.
● He has served as the Principal Secretary of the Department of Technical Education, Skill
Development & Employment and the Department of Labor, Government of Madhya Pradesh.
● He served as Coal India Chairman from February 2020 to June 2023.
About BSE :
● Founded : 9 July 1875
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Sundararaman Ramamurthy
About SEBI :
● Established: 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters: Mumbai, Maharashtra
● Chairman: Madhabi Puri Buch
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance, GoI.
Sony Sports Network ropes in Bollywood actor Kartik Aaryan as brand ambassador for football

● Sony Sports Network, the destination for football in India, has joined hands with Bollywood’s Gen
Z actor and youth icon - Kartik Aaryan to become their brand ambassador for football.
● Sony Sports Network has launched the first film from the ‘Your Home of Football’ campaign
which will be followed by four additional films in the coming weeks.

IPS Nina Singh is CISF's first woman chief; Anish Dayal Singh appointed CRPF head
 ● The Central Industrial Security Force (CISF) was assigned its first woman chief in Nina Singh,
who has been appointed as the Director-General (DG).
● Nina Singh, a 1989-batch IPS officer of Rajasthan cadre, is currently working as Special DG,
CISF.
● She has been appointed to the post till her superannuation on July 31, 2024, the order stated.
● Nine Singh has been with the CISF since 2021 and will remain at the helm till her retirement on
July 31 next year.
About Nina Singh:
● Nina Singh is from Bihar and has studied at the Patna Women's College, and the Jawaharlal
Nehru University.
● She also holds a Master's degree in Public Administration from Harvard University.
● Nina Singh achievements include becoming the first woman to hold the top police post in
Rajasthan.
● Six officers are in the Director General rank in the state police force.
About Anish Dayal Singh:
● Further, the Union Ministry of Home Affairs headed by Amit Shah, appointed Indo-Tibetan Border
Police (ITBP) chief Anish Dayal Singh as the Director General of Central Reserve Police
Force (CRPF).
● Anish Dayal Singh, a 1988-batch Indian Police Service (IPS) officer of Manipur cadre, was
holding the additional charge of the CRPF following the retirement of incumbent S L Thaosen on
November 30.

MOUS AND AGREEMENT

Nasscom signs MoU with NRW Global to establish launchpad in Germany
• An MoU has been signed between Nasscom and NRW Global to establish a launchpad in
Germany.
• The MoU has been signed to promote innovation, investment, and technological exchange
between North Rhine-Westfalia (NRW) in Germany and India.
• The state-owned foreign trade promotion agency NRW Global Business is the partner for all
companies to investment projects and settling in North Rhine-Westphalia.

About NASSCOM
 • The National Association of Software and Service Companies is an Indian non-governmental trade
association and advocacy group that primarily serves the Indian technology industry.
• Founded in 1988, NASSCOM operates as a nonprofit organization and serves as a key entity
within the Indian technology sector. Chairperson: Krishnan Ramanujam
UNLF signs peace agreement with Centre & Manipur government
• Government of India and Government of Manipur signed a Peace Agreement with United National
Liberation Front (UNLF), the oldest valley-based armed group of Manipur in New Delhi.
• The UNLF was formed in 1964 and has been operating both within and outside Indian Territory.
• A Peace Monitoring Committee (PMC) will be constituted to oversee enforcement of the agreed
ground rules.
• The development is likely to be a significant step in restoring peace and normalcy in the State.
NLCIL Signs MoU with TNSDC & NTTF for Skill Development Training Programme for Unemployed
Youth
• NLC India Limited, a Navratna PSU under the Ministry of Coal, entered into a tripartite
Memorandum of Understanding (MoU)in Chennai with Tamil Nadu Skill Development Corporation
(TNSDC), the Nodal Agency of Government of Tamil Nadu for skill development and M/s Nettur
Technical Training Foundation (NTTF), Bengaluru, a pioneer institution on providing skill training to
unemployed youth, to meet the present industry demands.
• NLCIL has committed to spend Rs1.12 lakh per candidate for this free residential programme
under its budget for Rehabilitation and Resettlement (R&R).
NLCIL Signs MoU with TNSDC & NTTF for Skill Development Training Programme for Unemployed
Youth
• NLC India Limited, a Navratna PSU under the Ministry of Coal, entered into a tripartite
Memorandum of Understanding (MoU) in Chennai with Tamil Nadu Skill Development Corporation
(TNSDC), the Nodal Agency of Government of Tamil
Nadu for skill development and M/s Nettur Technical Training Foundation (NTTF), Bengaluru, a
pioneer institution on providing skill training to unemployed youth, to meet the present industry
demands.
• This collaboration of NLCIL, TNSDC & NTTF will impart job-oriented skill development training for
540 wards of project affected families (PAFs’) of NLCIL’s operating areas in Neyveli.
• NLCIL has committed to spend Rs1.12 lakh per candidate for this free residential programme
under its budget for Rehabilitation and Resettlement (R&R).
UNICEF in collaboration with India to launch the "Green Rising" initiative at the COP28 Summit in Dubai
• UNICEF's Generation Unlimited, in collaboration with India's Ministry of Environment, Forest, and
Climate Change will unveil the "Green Rising" initiative at COP28 in Dubai.
• The global "Green Rising" initiative and the "Green Rising India Alliance" marks a collaborative
effort involving UNICEF, Generation Unlimited, and a diverse network of public, private, and youth
partners.
• The main goal is to mobilize millions of young people worldwide, encouraging their active
participation in green initiatives addressing and adapting to the severe impacts of climate change
on their communities.
About UNICEF
• Headquarters: New York, United States
• Founders: United Nations General Assembly, Ludwik Rajchman
• Founded: 11 December 1946
• Head: Catherine M. Russell

Gujarat govt, AAI signs MoU to develop 11 greenfield airports

• Gujarat, the State government has signed a memorandum of understanding with the Airports
Authority of India (AAI) to develop 11 new greenfield airports and expand nine existing ones.
• Though an estimate for these projects have not been drawn, each airport is likely to cost ₹1,500-
3,000 crore.
• Ankleshwar, Morbi, Rajpipla, Botad, Dwarka, Dhordo, Rajula, Dahod, Ambaji, Dholavira and
Palitana have been identified for the development of greenfield airports.
• As per the agreement with the AAI, Gujarat government will provide the necessary land and other
utility services like electricity and water needed for the airports.
• The government stated that it will also explore possibilities of three additional greenfield airports at
Vadnagar, Siddhpur and Kevadia.
• Apart from the greenfield airport development, the state government is also looking at brownfield
development of nine airports.
Indian Oil and EKI Energy ink deal to promote 'Surya Nutan'
• Global carbon credit developer and supplier EKI Energy Services and state-owned refiner Indian
Oil Corporation have collaborated to promote sustainable indoor solar cooking system.
 • According to the statement, this strategic collaboration aims to promote 'Surya Nutan', IndianOil's
innovative indoor solar cooking system.
• IndianOil, the country's largest fuel refiner and retailer, has a prominent presence across the entire
hydrocarbon value chain.
• Under the MOU, IndianOil will share the technology of Surya Nutan with EKI Energy to enhance its
production and distribution, supported by carbon finance while contributing towards the betterment
of society and the environment.
About IOCL
• Indian Oil Corporation Limited is an Indian oil and gas company under the ownership of the
Ministry of Petroleum and Natural Gas, Government of India.
• Chairperson: Shrikant Madhav Vaidya.
REC signs 200 million euro loan with German Bank KfW to propel distribution sector reforms
• REC Limited, a Maharatna CPSE under the Ministry of Power, has signed a 200 million Euro loan
agreement with the German bank KfW.
• This marks REC's sixth line of credit under the Indo-German Development Cooperation and
demonstrates the corporation’s commitment to enhancing the distribution infrastructure of
DISCOMs in line with the Revamped Distribution Sector Scheme (RDSS) of the Government of
India.
• This occasion marks a significant step in REC's ongoing commitment to reform the distribution
sector in the country.
• REC is the nodal agency to implement the RDSS scheme.
About REC
• REC Limited, a Maharatna CPSE established in 1969, under Ministry of Power, provides long term
loans and other finance products for Power-Infrastructure sector comprising of Generation,
Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery
Storage, Green Hydrogen etc. More recently REC has also diversified into the Non-Power
Infrastructure sector comprising of Roads and expressways, Metro Rail, Airports, IT
Communication, Social & Commercial Infrastructure (Educational Institution, Hospitals), Ports and
Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. The
loan book of REC exceeds Rs 4,74,275 Crore.
Clean Ganga Mission signs pact with Mississippi River Initiative
 • The National Mission for Clean Ganga (NMCG) recently signed a Memorandum of Common
Purpose (MoCP) with the Mississippi River Cities and Towns Initiative (MRCTI), which represents
124 cities/towns situated along the banks of the Mississippi River, the United States.
• This significant agreement positions NMCG a step closer to the imminent launch of the Global
River Cities Alliance (GRCA), as the current River Cities Alliance (RCA) has now expanded its
strength to the membership of 267 global river-cities including India, USA and Denmark.
NHAI Inks Agreement to Develop Multi Modal Logistics Park at Nagpur at a cost of Rs. 673 crores
• NHAI has signed an agreement with M/s. DC Multi-Modal Park (Nagpur) Limited, a SPV of M/S.
DeltaBulk Shipping India Pvt. Ltd., for the development of Multi Modal Logistics Park (MMLP) at
Nagpur.
• The MMLP will be developed in an area of 150 acres under the Public Private Partnership model at
an estimated cost of Rs.673 crore.
• This project is poised to be the first MMLP in Maharashtra under the PM Gati Shakti National
Master Plan, making it a significant milestone in the country's development.
• The MMLP will be developed in three phases.
• Phase I with an investment of Rs. 137 crore is expected to be completed in two years.
The government of India and ADB signed $200 million loan for Uttarakhand climate-resilient power
system development project
• The Government of India and the Asian Development Bank (ADB) signed agreement for availing of
a $200 million loan from the Asian Development Bank (ADB), to improve the quality, efficiency,
and reliability of power supply in the state of Uttarakhand.
• The ADB funding for the project will strengthen power system infrastructure and help Uttarakhand
in achieving its goal of providing 24x7 power to its residents
• The Japan Fund for Prosperous and Resilient Asia and the Pacific, financed by the Government of
Japan through ADB, will provide a $2 million grant to support livelihood enhancement, training, and
awareness-raising activities of the project.
National Mission for Clean Ganga Inks Pact for Sewage Treatment Plant Development at Gokul
Barrage in Mathura
• National Mission for Clean Ganga (NMCG) has entered into a tripartite Concession Agreement
with the Uttar Pradesh Jal Nigam and M/s. EIEL Mathura Infra Engineers Pvt. Ltd.
 • This Special Purpose Vehicle (SPV), formed through a joint venture between M/s Enviro Infra
Engineers Limited and M/s. Micro Transmission Systems, will spearhead the development of a
Sewage Treatment Plant (STP) for the Gokul Barrage in Mathura.
• The Concession Agreement, executed under the Hybrid Annuity PPP mode, involves a contract
valued at Rs. 240.01 Crores, marking a transformative moment in river conservation and urban
sewage management.
MoD inks contract worth over Rs 588 cr with TCIL for Digital Coast Guard project
• In alignment with the Government of India’s strategi c vision for Digital Armed Forces, the Ministry
of Defence has signed a contract with Telecommunications Consultants India Limited (TCIL), at a
total cost of Rs 588.68 crore, for the acquisition of Digital Coast Guard (DCG) project, under the
Buy (Indian) category.
• A pivotal Initiative for the Indian Coast Guard (ICG), the DCG Project will unfold a comprehensive
narrative of technological progression, encompassing the construction of an advanced Data
Centre, and the establishment of a robust Disaster Recovery Data Centre.
• At its core, the DCG project marks the establishment of a Tier-III standard Data Centre, armed with
the latest technological capabilities.

The government of India and ADB sign $100 million loan agreement to improve urban services and
tourism facilities in Tripura
● The Government of India today signed an agreement with Asian Development Bank (ADB) to avail a
USD 100 million loan to improve urban services and tourism facilities in the northeastern state of
Tripura.
● After signing the loan agreement, Ms. Mukherjee stated that the project will improve the municipal
infrastructure and public services in urban local bodies (ULBs) along the main national highways in
Tripura besides upgrading key tourism sites.
● The project will upgrade urban water supply systems by installing 42 kilometres (km) of new
transmission and distribution pipes, establishing 4 new water treatment plants, and improving 55 km
of stormwater drains.
● It will improve 21 km of urban roads that will incorporate features that respond to the needs of the
elderly, women, children, and differently-abled.

Ministry of Rural Development signs MoU with Reliance Retail’s JioMart, to onboard DAY-NRLM’s
SHGs
• The Ministry of Rural Development (MoRD) has signed a memorandum of understanding (MoU) with
Reliance Retail’s JioMart as part of its efforts to enhance the outreach of the products of self-help
groups (SHGs) of Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM).
• This initiative will further boost MoRD’s provision under the SARAS collection to be available to a
larger consumer base.
• JioMart will also help set-up and support them to navigate and operate their account on the
marketplace.
• Additionally, JioMart will jointly participate in trainings and workshops facilitated by MoRD to enable
sellers to familiarise selling experience on the portal.

Tripartite Peace Accord Signed in Delhi

• A historic tripartite peace accord was signed between the Centre, the Assam Government and the
United Liberation Front of Assam (ULFA) in New Delhi.
• The deal is intended to bring lasting peace in the North East region.
• The Memorandum of Settlement was signed in the presence of Union Home Minister Amit Shah.
• Union Home Minister Amit Shah, Assam Chief Minister Himanta Biswa Sarma, and more than a
dozen top leaders of the pro-talks faction of the ULFA, headed by Arabinda Rajkhowa, will be
present during the signing of the peace agreement.
• Two top leaders of the Rajkhowa group -- Anup Chetia and Sashdhar Choudhary -- have been in the
national capital since last week and gave the final touches to the peace agreement along with
government interlocutors.
• The Rajkhowa faction joined peace talks with the government on September 3, 2011 after an
agreement for Suspension of Operations (SoO) was signed between the ULFA, central and state
governments.
India-Oman FTA may be signed in January 2024:
• India and Oman will likely sign a free trade agreement in early 2024.
• This free trade agreement will benefit export sectors such as motor gasoline, iron and steel products,
electronics, machinery, etc.
• Currently, these goods face a 5% import duty in Oman.
• Oman's import duty ranges from 0 to 100%.
• A duty of 100% is on specific items such as meats, wines, and tobacco products.
• Both sides have concluded the negotiations on most of the issues.
• Oman is India's third-largest export destination among the Gulf Cooperation Council (GCC)
countries.
• India has already signed similar agreements between India and other GCC countries like UAE.
• India's merchandise imports from Oman are around USD 250 million.
India, Russia ink pacts on construction of future power units of Kudankulam nuclear plant
• India and Russia signed the agreement on the construction of future power units of the Kudankulam
nuclear plant.
• Agreements have also been signed in the areas of medicines, pharmaceutical substances and
medical devices.
• The Kudankulam nuclear power plant is being constructed in Tamil Nadu with the technical
assistance of Russia.
• The construction started in March 2002.
• In 2027, the plant is anticipated to begin running at full capacity.
• External Affairs Minister S. Jaishankar is on a five-day visit to Russia.
• India and Russia agreed that their negotiating teams would hold a meeting by the end of January to
start in-person negotiations on the free trade agreement (FTA) between India and the Eurasian
Economic Zone.

RANKING AND INDEX

WHO published a report titled ‘World Malaria Report 2023
• The World Health Organisation (WHO) published a report titled ‘World Malaria Report 2023’.
• Malaria is a disease caused by the Plasmodium parasite.
• Each year, WHO’s World malaria report provides a comprehensive and up-to-date assessment of
trends in malaria control and elimination across the globe.
• According to the World Malaria Report, India accounted for 66% of malaria cases in the World
Health Organization’s South-East Asia region in 2022.
• The WHO South-East Asia Region accounted for about 2% of malaria cases globally while malaria
cases declined by 76%, from 23 million in 2000 to about five million in 2022.
Murali Sreeshankar wins three medals in 2023; ranked 4th in the world:
• India's long jumper Murali Sreeshankar had a splendid outing this year, winning three medals. The
World no.4 athlete in the long jump, won a couple of silver medals and a bronze medal this year.
 • Sreeshankar won silver medals at the Asian Games 2023 in Hangzhou and Asian Championships
in Thailand. He secured a bronze medal at the Paris Diamond League held in June.
• Moreover, the 24-year-old also won a silver medal at the Commonwealth Games last year and had
the opportunity to represent his nation at the Tokyo Olympics.
• He is a frontrunner to win a medal for India at the upcoming Paris Olympics.
• The player will look for a podium finish at the quadrennial event in Paris next year.
Novak Djokovic finishes No. 1 in ATP rankings for record 8th time
• Novak Djokovic earned the year-end No. 1 spot in the ATP rankings for the eighth time, adding to
a record he already held.
• Djokovic won three of the four Grand Slam tournaments -- the Australian Open in January, French
Open in June and US Open in September -- to raise his career total to a men's-record 24 and was
the runner-up at the other, Wimbledon.
• He went 56-7 this season while leading the tour with seven titles, including at the ATP Finals last
month.
• The 36-year-old from Serbia regained the top ranking from Carlos Alcaraz, who edged him in a
five-set final at the All England Club in July.
• Alcaraz finished 2023 at No. 2 after the two men swapped No. 1 back-and-forth repeatedly this
year.
• Iga Swiatek claimed the WTA's year-end No. 1 ranking for the second consecutive year by winning
the WTA Finals last month.

Delhi Remains Unsafe for Women: Alarming Rise In Crimes Revealed By NCRB Data
• With an average three rapes a day, Delhi is still among the most unsafe metropolitan city for
women in the country, according to data shared by the National Crime Records Bureau (NCRB),
with 14,158 crimes against women reported in 2022.
• This figure was a slight increase from the 13,982 crimes against women reported in 2021.
• Delhi’s figures translated to 186.9 crimes against women per 100,000 people.
• The city accounted for 29.04% of the 48,755 crimes against women reported in 19 major cities
across the country, suggesting that law and order authorities were not working properly to create a
safe environment for women.

The Richest Person In The World by Bloomberg Billionaires Index

 • The Bloomberg Billionaires Index is a daily ranking of the world's richest people.
• South African-born Elon Musk is the new richest person in the world, having recently surpassed
United States Jeff Bezos
• They are followed by Frances Bernard Arnault , who rounds out the Top 3.
• The rest of the Top 10, in order, are: Bill Gates, Larry Ellison, Steve Ballmer, Warren Buffet, Larry
Page, Mark Zuckerberg, and Sergey Brin.
• Gautam Adani becomes 16th richest globally as Adani Group and his wealth tops $70 billion
Climate Change Performance Index (CCPI) 2024:
• The Climate Change Performance Index (CCPI) 2024 was released on the sidelines of the ongoing
COP28 in Dubai.
• India ranked 7th in this year’s Climate Change Performance Index, up one spot from the previous
one.
• CCPI is a scoring system that measures the climate protection performance of countries. It was
first published in 2005.
• It is designed to improve transparency in international climate politics.
• The CCPI uses a standardized framework to compare the climate performance of 63 countries and
the EU, which together account for over 90% of global greenhouse gas emissions.
• The CCPI assesses each country’s performance in four categories: Greenhouse Gas (GHG)
Emissions (40%), Renewable Energy(20%), Energy Use(20%), Climate Policy (20%).
Kolkata: Safest city in India for the third consecutive year
• The most recent report from the National Crime Records Bureau (NCRB) shows that Kolkata has
remained India’s safest city for the third consecutive year, with an incidence of recognized crime
(IPC) of 86.5 in 2023.
• Kolkata has managed to hold its position as the safest city in India for three years running if reports
are to be regarded.
• The National Crime Records Bureau (NCRB) released a report that contains vital information about
this.
• The data indicates that, compared to other major Indian cities, Kolkata has the lowest number of
cognizable offences per lakh people.
About NCRB
• NCRB is an Indian government agency (headquartered in New Delhi) established in 1986 and is
part of the Ministry of Home Affairs (MHA), Government of India.
 • It was set up based on the recommendation of the National Police Commission, 1977 and a Task
force, 1985.

For the 6th time, Hyderabad emerges as the best city to live in India
● As per Mercer’s survey, Hyderabad has the best ‘quality of living’ in India.
● According to the Quality of Living Index 2023 released by Mercer, Hyderabad is in the top spot in
terms of ‘quality of living’ in India. Hyderabad attained the 153rd spot in the Quality of Living Index
2023.
● Pune has the second-best ‘quality of living’ in India. It has secured the 154th position in Mercer’s
Quality of Living City Index.
● Bengaluru (156th) Chennai is the fourth Indian city in the list at 161 spot followed by Mumbai at 164.
Kolkata (170) and New Delhi (172).
● Vienna (Austria), Zurich (Switzerland) and Auckland (New Zealand) Copenhegan (Denmark)
Geneva (Switzerland) are the top five cities in the Quality of Living Index 2023.
● Seven European countries were in the top 10.
● This index evaluates the quality of life for employees working abroad. It has taken data from more
than 500 cities all over the world.
● Quality of Living Index is based on different factors like Water Potability, Waste Removal, Sewage,
Air Pollution, Water availability, Traffic Congestion.
Hyderabad ranked 1st in food adulteration cases: NCRB
● According to the data released by the National Crime Records Bureau (NCRB), Hyderabad is in first
position in India regarding food adulteration cases.
● In cases of food adulteration, Andhra Pradesh stood next to Telangana.
● The seized items include adulterated finger garlic paste, ice creams, and tea powder.
● A total of 291 cases of food adulteration were reported across 19 major cities in India in 2021.
● Food adulteration is a critical concern for the health of the Public.
Saudi Arabia emerges as top destination for skilled workers
● Every second candidate trained under the Skill India International Centres (SIIC) and got
employment abroad between April 2022 and December 2023 landed in Saudi Arabia, Union Skill
Minister of State Rajeev Chandrasekhar told the Lok Sabha.
● In response to a question on whether the government has any plan to partner with other countries
that need skilled employees, the minister said 25,300 candidates got employment abroad thanks to
 the efforts of the skill ministry’s SIICs.
● According to the data, 13,944 skilled candidates got jobs in Saudi Arabia, followed by Qatar (3,646),
the United Arab Emirates (2,832), and the United Kingdom (1,248).
● Currently, two SIICs — one each in Varanasi and Bhubaneswar — have been established.
● Besides, the minister said the ministry had active government-to-government memoranda of
understanding (MoUs) with eight countries like Australia, Denmark, France, Germany, Japan, Qatar,
the UAE, and the UK.
India tops remittance flows at USD 125 bn in 2023: World Bank
● According to the World Bank’s latest Migration and Development Report, India with 125 billion
dollars remittance remains the largest recipient of remittances in the world in 2023.
● Mexico (67 billion dollars), China (50 billion dollars), the Philippines (40 billion dollars), and Egypt
(24 billion dollars) are among the top five remittance recipient countries in the world.
● In the South Asia region, remittance flows to India registered a growth. This region witnessed a 7.2
per cent increase in remittances in 2023.
● Remittance flows to Europe and Central Asia decreased by 1.4 per cent.
● The report shows continuous growth in remittance flows to low- and middle-income countries
(LMICs) in 2023.
● The United States continued to be the largest source of remittances.
● World Bank Migration and Development Brief is prepared by the Migration and Remittances Unit,
Development Economics (DEC), the premier research and data arm of the World Bank.
● The brief is produced twice a year.
About World Bank :
● Established : July 7, 1944
● Headquarters : Washington, D.C., United States
● President : Ajay Banga

Number of women voters projected to outstrip men voters in 2029: SBI report
• The number of women voters is projected to be greater than men voters in 2029, according to SBI’s
economic research department (ERD).
• SBI’s ERD has projected women voter turnout might increase to 55% and men voter turnout might
decline to 45% in 2047 (probable election year 2049).
• As per ERD’s analysis, the voter turnout increased by 13.7 crore to 55 crore. Out of this, 26 crore
were women.
• At the current rate of polling, total voter turnout could touch 68 crore in 2024. Out of this, women
voters could be 33 crore (49%).
• In a special report, the ERD said total voter turnout could touch 73 crore in 2029.
• Based on NSS data, ERD’s analysis shows that the total contribution of unpaid women to the
economy is around ₹22.7 lakh crore. This is almost 7.5% of GDP of India.
• One of the best examples of women's empowerment given in the report was the "MP (Madhya
Pradesh) MukhyaMantri Ladli Behna scheme."
• This scheme provides financial endowment for women in the 21-60 age group to improve the health
and nutritional status of women and children dependent on them.
Road crash deaths are down by 5 per cent globally but India’s numbers rise
• As per the recently released WHO’s Global Status Report on Road Safety 2023, annual number of
road traffic deaths has dropped by 5 per cent to 1.19 million per year.
• India, however, registered a 15% increase in fatalities.
• As per the WHO report, 108 countries registered a decrease in the cases of road fatalities.
• WHO’s Global Status Report on Road Safety 2023 shows that the total number of road traffic
fatalities in India has increased from 1.34 lakh in 2010 to 1.54 lakh in 2021.
• Road traffic deaths have decreased by more than 50% in ten countries.
• Thirty-five countries have reduced road traffic deaths by 30% to 50%.
• The WHO Global status report on road Safety 2023 is the fifth in a series measuring progress in
reducing road traffic deaths.
• This report covers progress between 2010 and 2021 and sets a baseline for efforts to meet the
United Nations Decade of Action 2021–2030 target to halve road traffic deaths by 2030.
• The goal is to reduce road traffic deaths and injuries by 50% by 2030.

DEFENCE NEWS
Ministry of Defence inks deal with Agnit Semiconductors
• The Ministry of Defence (MoD) has signed a contract with Agnit Semiconductors Private Limited
for design and development of advanced Gallium Nitride (Gan) semiconductors essential for the
next generation of wireless transmitters in defence applications ranging from radars to electronics
warfare jammers.
 • This contract marks the 300th agreement under the Innovations for Defence Excellence (iDEX)
initiative of the Defence Innovation Organisation (DIO).
• The iDEX-DIO aims to eliminate imports in Gallium Nitride (GaN) components, classified as
sensitive and cutting-edge technology with controlled and restricted exports by many countries.

About Ministry of Defence :

• Defence Minister : Rajnath Singh
• Minister of State : Ministry of Defence
• Defence Secretary : Giridhar Aramane

Simultaneous Launch of First Three Ships (MAHE, MALVAN, and MANGROL) under ASW SWC (CSL)
Project at CSL, Kochi
• Mahe, Malvan and Mangrol, the first three ships of 08 x ASW Shallow Water Craft (CSL) project
being built by CSL, Kochi for the Indian Navy, were launched CSL, Kochi.
• Mahe was launched by Mrs Anjali Bahl in the presence of VAdm Puneet Bahl, Commandant INA,
Malvan was launched by Mrs Kangana Berry in the presence of VAdm Suraj Berry, C-in-C, and
Mangrol was launched by Mrs Zarine Lord Singh.
• The ships were launched to the invocation from Atharva Veda.
• The Mahe class ASW Shallow Water Crafts have been named after ports of strategic importance
along the coast of India, and will look to carry forward the glorious legacy of the erstwhile
minesweepers which were their namesake.
• The contract for building 8 ASW SWC ships was signed between the Ministry of Defence and
Cochin Shipyard Limited on 30 Apr 19.

Defence Minister Shri Rajnath Singh Reveals Crest of Project 15B Stealth Guided Missile Destroyer
Yard 12706 (Imphal)

• The crest of Yard 12706 (Imphal), the third amongst the four Project 15B stealth guided missile
destroyers, was unveiled by Raksha Mantri Shri Rajnath Singh, in the presence of Manipur Chief
Minister Shri N Biren Singh, in New Delhi.
 • The unveiling of Imphal’s crest, adorned with the Kangla Palace and ‘Kangla-Sa’ is a befitting
tribute to the sacrifice made by the people of Manipur towards India’s independence, sovereignty
and security.
• The crest design depicts the Kangla Palace on the left and ‘Kangla-Sa’ on the right.
• The Kangla Palace is an important historical and archaeological site of Manipur, and was the
traditional seat of the past kingdom.
Ministry of Defence Signs Contract with Bharat Heavy Electricals Limited for ₹2956.89 Cr to Acquire 16
Upgraded Super Rapid Gun Mounts and Accessories for Indian Navy
•

• The Ministry of Defence has signed a contract with M/s Bharat Heavy Electricals Limited (BHEL),
Haridwar for procurement of 16 Upgraded Super Rapid Gun Mount (SRGM) along with associated
equipment/ accessories for Indian Navy under Buy (Indian) category at a total cost of ₹2956.89 Cr.
• The upgraded SRGM will be manufactured by BHEL at its Haridwar Plant.
• The upgraded SRGM is described as a medium-caliber anti-missile/anti-aircraft point defense
weapon system.

14th edition of India-United States of America Joint Military Exercise ‘Vajra Prahar’
• The 14th Edition of the Indo-US Joint Special Forces exercise, "VAJRA PRAHAR 2023," has
commenced at the Joint Training Node in Umroi, Meghalaya spanning from 21st November to 11th
December 2023.
• The US contingent comprises personnel from the 1st Special Forces Group (SFG) of the US
Special Forces, while the Indian Army contingent is led by Special Forces personnel fr
About Ministry of Defence :
• Defence Minister : Rajnath Singh
• Minister of State : Ministry of Defence
• Defence Secretary : Giridhar Aramane

Indian Coast Guard Conducts 9th National Level Pollution Response Exercise (NATPOLREX-IX) off
Vadinar, Gujarat·
• Indian Coast Guard conducted the 9th National Level Pollution Response Exercise (NATPOLREX-
IX) near Vadinar, Gujarat.
 • DG Rakesh Pal, Director General Indian Coast Guard, and the Chairman NOSDCP reviewed the
preparedness of all agencies during the exercise.
• Various ministries and departments of central and coastal state governments, ports, oil handling
agencies, and other stakeholders participated in the exercise.
• More than 31 foreign observers and 80 delegates participated in the exercise.
• The NATPOLREX-IX accomplished its objective of testing the level of preparedness and
coordination between various resource agencies to respond to a marine oil spill invoking provisions
of the National Oil Spill Disaster Contingency Plan or NOSDCP.
• Pollution Response Vessels (PRVs), Offshore Patrol Vessels (OPVs), Advanced Light Helicopter
Mk-III, and Dornier Aircraft participated in the exercise.

Indian Navy to induct Fast Attack Craft, 'INS Tarmugli'

● The Indian Navy will be re-inducting a refurbished 22-year-old fast attack craft, INS Tarmugli, in a
ceremonial commissioning ceremony at the naval dockyard, Visakhapatnam, more than 17 years
after she was gifted to Maldives which used it for years and returned to India in May, 2023.
● The ship has a unique distinction of having served under the flag of two nations with three names
during her distinguished service till date.
● Commissioned in the Indian Navy as INS Tillanchang, a Trinkat Class ship, she was in active
service till 2006, and thereafter gifted to the Maldives National Defence Force (MNDF) by the
Govt of India, as part of diplomatic outreach in the Indian Ocean Region (IOR).
● The ship, according to the Indian Navy, was commissioned into MNDF as MCGS Huravee on 16
April 2006, and served there till its decommissioning in May 2023.
● The vessel was originally designed and constructed by Kolkata-based Garden Reach
Shipbuilders & Engineers and was commissioned into the Indian Navy on March 17, 2001.
About Ministry of Defence :
● Defence Minister : Rajnath Singh
● Defence Secretary : Giridhar Aramane
IndiGo receives IFSC Gift City approval to set up an aircraft leasing shop
● Interglobe Aviation, the parent company of India’s largest airline, IndiGo, has received approval
from IFSC Gift City to establish an aircraft leasing venture.
● Over the next 5 years, the company aims to invest approximately ₹11,500 crore in the IFSC
aircraft leasing segment.
 ● The funds will come from promoter investments, according to the company’s application to the
IFSC.
● IndiGo plans to operate under the name ‘Interglobe Aviation Financial Services IFSC Private
Limited,’ focusing on operating leasing, financial leasing, and other related services for aircraft.
About IndiGo :
● Founders: Rahul Bhatia, Rakesh Gangwal
● CEO: Pieter Elbers
● Headquarters: Gurugram
● Founded: August 2006
Ministry of Defence Signs Rs 588.68 Crore Contract with Telecommunications Consultants India
Limited for Digital Coast Guard Project
● In alignment with the Government of India’s strategic vision for Digital Armed Forces, the Ministry
of Defence has signed a contract with Telecommunications Consultants India Limited (TCIL), at a
total cost of Rs 588.68 crore, for the acquisition of Digital Coast Guard (DCG) project, under the
Buy (Indian) category.
Indian Air Force Conducts Successful Test of 'SAMAR' Air Defense Missile System in Andhra Pradesh
● Indian Air Force (IAF) successfully conducted the test of the 'SAMAR' standing for Surface to Air
Missile for Assured Retaliation, air defence missile system during 'Exercise Astrashakti-2023.'
● Exercise Astrashakti-2023 took place at Suryalanka Air Force Station in Andhra Pradesh.
● SAMAR is an indigenous air defence missile system developed by the Indian Air Force.
● SAMAR participated for the first time in Exercise Astrashakti-2023 to undergo operational field
trials and test its surface-to-air weapon systems.
● SAMAR is capable of destroying aerial threats, operating at a speed range of 2 to 2.5 Mach.
● It features a twin-turret launch platform.
● SAMAR air defence system has been developed by the 7 Base Repair Depot (BRD), showcasing
indigenous technological advancements.
● SAMAR can launch two missiles in both single and salvo mode, demonstrating its flexibility and
versatility in different combat situations.
● SAMAR is a quick reaction surface-to-air missile system, ingeniously crafted by the IAF’s 7 Base
Repair Depot (BRD) and 11 BRD, in collaboration with Simran Flowtech Industries and Yamazuki
Denki.
● Notably, the system repurposes old Russian-origin Vympel R-73 and R-27 air-to-air missiles,
 demonstrating an innovative approach to maximize existing resources.
● India also showcased the firepower of its indigenous Akash surface-to-air (SAM) weapon system
during Exercise Astrashakti 2023.
● The Akash Weapon System is designed and developed by the Defence Research and
Development Organisation (DRDO), emphasizing India's self-reliance in defense technology.
About IAF :
● Established : 1932
● Headquarters : New Delhi, Delhi
● Chief of the Air Staff : Air Chief Marshal Vivek Ram Chaudhari
● Motto : Touch the Sky with Glory

Defense Ministry Greenlights Acquisition of 6,400 Rockets for Pinaka Weapon System

● The Ministry of Defence (MoD) has given the green light for the acquisition of 6,400 new rockets
for the Pinaka weapon system.
● The Defence Ministry has given approval to Rs 2,800 crore proposal for buying around 6,400
rockets for Pinaka multi-barrel rocket launcher systems.
● At its recent meeting, the Defence Acquisition Council approved the proposal for the acquisition
of two types of these rockets, called Area Denial Munition Type 2 and Type-3.
● Two main contenders include the Economic Explosives Limited of Solar Industries and the
Munitions India Limited.
● Pinaka weapon system is named after the bow of Hindu god Shiva.
● It can fire 12 rockets in 44 seconds, with a maximum range of 40 km for the Mark-I and 120 km
for the Mark-I enhanced version.
● It has been developed by the Defence Research and Development Organisation (DRDO).
● Private sector companies like Larsen & Toubro, Tata Defence, and Economic Explosives Limited
are actively involved in the Pinaka weapon system project, indicating collaboration between the
government and the private sector in defense initiatives.
About Ministry of Defence :
● Defence Minister : Rajnath Singh
● Minister of State : Ministry of Defence
● Defence Secretary : Giridhar Aramane
INS Imphal - Indian Navy's indigenous destroyer to be commissioned

● Indian Naval Ship (INS) Imphal, the third warship of Project 15B forming the Visakhapatnam
class stealth-guided missile destroyers, is set to be commissioned into the Indian Navy.
● Project 15B - Under this initiative, Visakhapatnam Class 4 warships (Visakhapatnam, Mormugao,
Imphal, Surat) were planned.
● The Visakhapatnam and Mormugao are already commissioned in the Indian Navy.
● INS Imphal is the first warship to have been named after a city from the Northeastern region, the
approval for which was accorded by the President in April 2019.
● The naming of the ship after the capital city of Manipur underlines the importance of the
Northeastern region for national security and prosperity.
● Built by Mazagon Dock Limited, the ship boasts a high indigenous content of approximately 75%
that includes BrahMos surface-to-surface missiles, medium-range surface-to-air missiles, anti-
submarine indigenous rocket launchers, and 76mm super rapid gun mount.
● The ship is a part of Project 15B (Visakhapatnam class) and follows the lineage of indigenous
destroyers like Project 15A (Kolkata class) and Project 15 (Delhi class).
● With a length of 163 metres and 7,400 tons displacement, Imphal is a formidable naval presence.
● The ship is a potent and versatile platform equipped with state-of-the-art weapons and sensors,
including surface-to-air missiles, anti-ship missiles, and torpedoes.
● Imphal is equipped to fight under Nuclear, Biological, and Chemical (NBC) warfare conditions
and has a high degree of automation and stealth features further enhancing its combat capability
and survivability.
● Powered by Combined Gas and Gas (COGAG) propulsion, the ship is capable of achieving
speeds above 30 knots (56 km/hour).
● INS Imphal can rightfully be regarded as one of the most potent warships to have been
constructed in India and is a testament to India's growing shipbuilding prowess in pursuit of the
national vision of ‘Aatmanirbhar Bharat’.
● After being commissioned, the ship will join the Western Naval Command.
8th edition of Indian Ocean Naval Symposium Conclave of Chiefs concludes in Bangkok, Thailand
 ● The 8th edition of Indian Ocean Naval Symposium (IONS) Conclave of Chiefs (CoC) was
conducted by the Royal Thai Navy at Bangkok, Thailand.
● Naval chiefs and senior representatives of 27 member countries and observer countries
participated in this conference.
● Admiral R Hari Kumar, Chief of the Naval Staff, represented three members of the Indian
delegation.
● The Republic of Korea Navy was welcomed by the Conclave as the latest ‘Observer’, raising the
collective strength of IONS to 34 (25 Members & 09 Observers).
● During the Conclave, CNS, IN held fruitful interaction with the host, Adm Adoong Pan-Iam,
Commander-in-Chief, Royal Thai Navy and complimented him for taking over Chairmanship of
IONS.
● On the side-lines of Conclave, the CNS also visited Indian Naval Ship Kadmatt, at Bangkok, and
interacted with the ship’s crew, commending them for successful long range deployment.
About IONS :
● The inaugural edition of IONS was held in Feb 2008 at New Delhi, with the Indian Navy as the
Chair for two years (2008 - 2010).
● India is also scheduled to take over as the Chair of IONS (2025-27) during 9th CoC planned to
be conducted in India at the end 2025.

SCIENCE & TECHNOLOGY

IndiGo Introduces AI Chatbot 6Eskai for Assistance in Flight Booking, Web Check-in, and Discount
Information
• In a significant leap forward in the realm of Indian aviation, IndiGo, the country’s largest airline, has
unveiled a cutting-edge AI chat assistant, 6Eskai, powered by GPT-4 technology.
• This innovative chatbot, developed in collaboration with Microsoft, is poised to reshape the
passenger experience by efficiently handling customer queries in 10 different languages.
• To begin with, it will address customer queries in 10 different languages.
• Early results show a 75% reduction in customer service agent workload.
About IndiGo :
• Headquarters : Gurgaon, Haryana, India
• CEO : Pieter Elbers.
• InterGlobe Aviation Limited, doing business as IndiGo, is an Indian low-cost airline.
Google Delays Launch of Next-Gen AI Model Gemini to 2024
• Google has quietly pushed back the launch of next-gen AI model Gemini until 2024.
• Gemini is touted as Google's most sophisticated artificial intelligence model.
• Gemini has been stated to strongly outperform OpenAI's GPT-4 as it harnesses vastly more
computing power than its competitor.
• Gemini is reported to strongly outperform OpenAI's GPT-4, emphasizing its superior computing
capabilities.
• CEO of Google and Alphabet : Sundar Pichai

India set to launch its first X-Ray Polarimeter Satellite - ISRO

• India is preparing to launch its inaugural X-Ray Polarimeter Satellite (XPoSat) using the Polar
Satellite Launch Vehicle (PSLV) from the Satish Dhawan Space Center in Sriharikota, Andhra
Pradesh.
About X-ray Polarimeter Satellite (XPoSat)
• XPoSat is designed to investigate the polarization of intense X-Ray sources through space-based
X-Ray astronomy.
• Observation Parameters : The spacecraft is designated for observation from a Low Earth Orbit
(~650 km altitude, low inclination of approximately 6 degrees).
• Two scientific payloads onboard will observe X-Ray sources during the spacecraft's transit through
Earth's shadow (eclipse period).
• The spacecraft will carry two scientific payloads in a low earth orbit.
About ISRO :
• Established: 15 August 1969
• Headquarters: Bangalore, Karnataka, India
• Chairman: S. Somanath

Saturn’s Rings Will Temporarily Disappear From View in 2025

• In 2025, Saturn's rings will seemingly disappear from Earth's view due to the phenomenon known
as the "Saturnian equinox."
• The Saturnian equinox occurs when the Sun crosses Saturn's equator, resulting in approximately
equal durations of day and night on the planet.
• Saturn experiences equinoxes roughly every 15 Earth years due to its extended orbital period.
Tata Advanced Systems and Satellogic to Collaborate on Building LEO Satellites in India
• Indian aerospace company Tata Advanced Systems (TASL) and Satellogic have signed a deal to
develop local space technology capabilities in India and manufacture Earth observation (EO)
satellites.
About TASL :
• Founded : 2007
• Headquarters : Hyderabad, Telangana, India
• Chairman : Banmali Agrawala
• MD & CEO : Sukaran Singh
• TASL is an Indian aerospace manufacturing, military engineering and defense technology
company.
• It is a fully owned subsidiary of Tata Sons, a holding company for the Tata Group.
About Satellogic :
• Founded : 2010
• CEO & Founder : Emiliano Kargieman
• Satellogic is a company specializing in Earth-observation satellites.

China Establishes World's First 'Near-Space Command

• China has established the world's first near-space command, which is the fifth branch of the
People’s Liberation Army (PLA), focusing on the development of hypersonic weapons.
• The near-space command operates in the near-space area, ranging from an altitude of 20 km to
the lower boundary of space at 100km.
• Equipped with hypersonic missiles, the near-space command is designed to target critical military
assets and conduct high-altitude surveillance globally using automated drones and spy balloons.
• Hypersonic weapons possess speeds of at least Mach 5, making them highly maneuverable and
capable of changing course during flight.
• The term "Mach" is a unit of measurement representing the speed of a moving object relative to
the speed of sound.
About China :
• President: Xi Jinping
• Capital: Beijing
• Currency : Renminbi
NASA Unveils Initiative to Send ISRO-Selected Indian Astronaut to International Space Station by 2024
• US space agency National Aeronautics and Space Administration (NASA) plans to train an Indian
astronaut for a mission to the International Space Station (ISS) by the end of 2024.
• Bill Nelson, the administrator of NASA, made this announcement during his visit to Delhi, India.
• A major collaboration between India and the United States is the NISAR satellite, set to be
launched in the first quarter of 2024.
About NASA :
• Established : July 29, 1958
• Headquarters : Washington, D.C, United States of America
• Administrator : Bill Nelson

Iran Sends Animals into Space in Resumption of Human Mission Pursuit

• Iran has sent a capsule carrying animals into space as it boosts its Western-contested space
programme in preparation for human missions.
• Capsule was launched 130 kilometres (80 miles) into orbit.
• The Salman rocket carried an “all indigenous” capsule weighing 500 kg (1,100 pounds), which is
reportedly the heaviest biological capsule ever successfully carried in the history of the Iranian
space programme.
• The capsule was ordered by the Iranian Space Agency and developed by the aerospace division of
the Ministry of Science, Research and Technology.
About Iran :
• President : Ebrahim Raisi
• Capital : Tehran
• Currency : Iranian rial

Voice Over 5G Or Vo5G Is Gradually Replacing VoLTE Across The Globe

• Vo5G/VoNR is the future standard for voice calling that operates over 5G networks, providing
improved speed, capacity, and responsiveness compared to 4G networks.
• It leverages the capabilities of 5G networks, aiming to enhance voice calling experiences through
higher quality, reduced latency, and better reliability.
• VoNR aims to provide superior voice quality, clearer audio, and reduced latency compared to
previous voice technologies like VoLTE.
 • VoNR operates using the 5G Core (5GC) network architecture, which provides a more flexible and
scalable framework for delivering voice services.
• It supports modern codecs like EVS (Enhanced Voice Service) and AMR-WB (Adaptive Multi-Rate
Wideband), enabling high-definition voice calling.
Indian Immunologicals Launches Measles and Rubella Vaccine Catering to Children
• The measles and rubella vaccine "Mabella" was launched by Vaccine maker Indian
Immunologicals (IIL) for children.
• The live-attenuated MR vaccine, Mabella, was developed through an exclusive partnership with the
Polyvac Institute of Vietnam.
• Mabella was launched as part of the 25th celebrations of the IIL division Human Biologicals
Institute (HBI) in Udhagamandalam (Ooty), Tamil Nadu (TN).
• The vaccine has been proven to be safe and effective through extensive human clinical trials.
About Ministry of Defence :
• Defence Minister : Rajnath Singh
• Minister of State : Ministry of Defence
• Defence Secretary : Giridhar Aramane
Google Introduces Gemini: An AI Model Engineered to Mimic Human Behavior
• Google has embarked on its latest venture in artificial intelligence with the introduction of Project
Gemini, an AI model designed to emulate human-like behaviour, sparking discussions about the
technology's potential and challenges.
• Gemini is a new artificial intelligence model that outperforms other models in tasks like
understanding, summarising, reasoning, coding, and planning.
• It comes in 3 versions: Pro, Ultra, and Nano.
• The Pro version is already available, and the Ultra version will be released early 2024.
• These versions will be immediately integrated into Google's AI-driven chatbot Bard and the Pixel 8
Pro smartphone.
About Google :
• Established : 1998
• Headquarters : California, United States of America (USA)
• CEO : Sundar Pichai

China begins commercial operations at world’s first fourth-generation nuclear reactor

 ● China has started commercial operations at a new generation nuclear reactor that is the first of
its kind in the world.
● Compared with previous reactors, the fourth-generation Shidaowan plant in China's northern
Shandong province is designed to use fuel more efficiently and improve its economics, safety
and environmental footprint as China turns to nuclear power to try to meet carbon emissions
goals.
● The 200 megawatt (MW) high-temperature, gas-cooled reactor (HTGCR) plant developed jointly
by state-run utility Huaneng, Tsinghua University and China National Nuclear Corporation, uses a
modular design.
● NuScale Power, previously expected to be the first U.S. company licensed to build a small
modular reactor.
About China :
● Capital : Beijing
● Currency : Renminbi
Geojit to set up Centre of Excellence in Sustainability at Cochin University of Science and Technology
● Geojit Financial Services Limited is establishing a Centre of Excellence in Sustainability at the
Cochin University of Science and Technology.
● The proposal to set up the centre named Geojit Cusat Centre of Sustainability Studies
(GCCOSS) has been approved by the University Syndicate.
● Geojit stands committed to providing an endowment of ₹5 crore over a period of four years.
● It will strive to be an autonomous hub for creating high-quality scientists and entrepreneurs while
engaging in global collaborations to create the best research output, academic rigour, and
technical innovations.
● Environmental, Social, and Governance (ESG) goals have emerged as an important agenda for
governments as well as corporations.
Iran Reveals Upgraded Karrar Drones Equipped with Air-to-Air Missiles
● Iran unveiled advanced Karrar combat drones armed with air-to-air missiles, enhancing its air
defence capabilities.
● It is an Unmanned Combat Air Vehicle (UCAV) developed by Iran.
● It is the first long-endurance, combat-capable Iranian drone.
● The Karrar drone, which was first introduced in 2010, has an operational range of up to 1,000
kilometres (620 miles).
 ● It has a maximum speed granted by its turbojet installation of 560 miles per hour.
● It reportedly boasts a service ceiling altitude of 47,000 feet.
About Iran :
● President : Ebrahim Raisi
● Capital : Tehran
● Currency : Iranian rial
Nasa Pace mission is set to unravel how smoke, dust shape Earth's climate
● NASA is gearing up to enhance our understanding of Earth’s atmosphere with the upcoming
Plankton, Aerosol, Cloud, ocean Ecosystem (PACE) mission, scheduled for launch in early 2024.
● The mission will employ advanced polarimeters to study the interplay of light, aerosols, and clouds,
contributing to a deeper comprehension of their impact on air quality and climate.
● Aerosols, which include tiny particles like smoke, dust, and pollutants, may seem inconspicuous, but
they play a crucial role in influencing our climate.
● The PACE mission will not only analyze aerosols but also delve into studying the color of the ocean.
● The primary science instrument for PACE is the Ocean Color Instrument (OCI), designed to
measure the ocean’s color across a spectrum from ultraviolet to shortwave infrared.
● Additionally, PACE will feature two polarimeters – the Spectro-polarimeter for Planetary Exploration
(SPEXone) and the Hyper Angular Research Polarimeter (HARP2).
IndiGo Achieves Milestone as First Indian Airline to Transport 100 Million Passengers in a Year
● IndiGo has achieved the distinction of becoming the first Indian airline to transport 100 million
passengers in a single year.
● IndiGo has further made history by being the 1st Indian airline to operate more than 2,000 flights
per day in the year 2023.
● IndiGo holds the position of India's largest airline, operating in both the domestic and
international aviation sectors.
● In the international segment (July-September), IndiGo maintained a substantial market share of
18.5% among airlines operating flights to and from India.
● Earlier in the year, IndiGo created history by placing an order for 500 Airbus A320 family planes.
● This order stands as the largest-ever aircraft order in the aviation industry.

ISRO to launch Chandrayaan-4 to bring back samples from Moon in 4 yrs: - Chairman Somanath
 ● The Indian Space Research Organisation (ISRO) has planned to launch Chandrayaan-4 to bring
back samples from the Moon in 4 years stated its chairperson S Somanath while elaborating on
the space agency’s Vision 2047.
● The first module of the Bharatiya Antariksh Station - India’s planned space station, that will be
capable of conducting experiments with the help of robots will be launched by 2028.
● Prime Minister Narendra Modi had previously called on the space agency to set up a space
station by 2035 and send a man to the Moon by 2040.
● Bharatiya Antariksh Station is India’s planned space station.
● The SPADEX experiment will demonstrate autonomous docking capability
● In the process known as docking, two spacecraft are aligned in a precise orbit and joined
together.
● ISRO has shown how to use leftover fuel from the propulsion module to return a spacecraft from
the Moon to Earth orbit.
● The Next Generation Launch Vehicle (NGVL), being designed by ISRO, will be able to transport
16 to 25 T into low Earth orbit.
About ISRO :
● Established: 15 August 1969
● Headquarters: Bangalore, Karnataka, India
● Chairman: S. Somanath

President Putin Leads Flag-Raising Ceremony for Strategic Nuclear Submarines, Highlighting Russia's
Naval Power Projection

● Russian President Vladimir Putin participated in a televised flag-raising ceremony for two
significant Russian nuclear submarines.
● Submarine Identities : Emperor Alexander III: A notable submarine belonging to Russia's new
Borei class, representing a technological advancement since the Cold War.
● Krasnoyarsk: A submarine of the Yasen class, designed for multipurpose use and equipped with
long-range, high-precision missiles.
● Borei Class Significance: Emperor Alexander III is part of the Borei class, denoted as the "Arctic
Wind," highlighting Russia's strategic focus on advanced naval capabilities in the Arctic region.
 ● Missile Capabilities: The Krasnoyarsk, belonging to the Yasen class, is equipped with long-range,
high-precision missiles capable of striking both sea and land targets.
● Expansion Plans: President Putin mentioned the ongoing construction of five more Yasen-class
submarines, indicating a commitment to expanding Russia's naval capabilities.
About Russia :
● President : Vladimir Puti
● Prime Minister : Mikhail Mishustin
● Capital : Moscow
● Currency : Ruble

Ola CEO Bhavish Agarwal’s AI startup is building a multilingual Large Language Model

● Krutrim SI Designs, the new artificial intelligence (AI) venture of Ola co-founder Bhavish
Aggarwal, has unveiled a family of multilingual artificial intelligence (AI) models to cater to the
unique requirements of the Indian ecosystem.
● Krutrim, ‘artificial’ in Sanskrit, will come in two sizes: a base model named Krutrim trained on 2
trillion tokens and unique datasets, and a larger, more complex model called Krutrim Pro,
launching next quarter for advanced problem-solving and task execution capabilities.
● Krutrim can understand 22 Indian languages and generate content in about 10, including Marathi,
Hindi, Bengali, Tamil, Kannada, Telugu, Odia, Gujarati, and Malayalam.
● The full open release of Krutrim is scheduled for January 2024, and Krutrim APIs will be
accessible to developers from February 2024.
● Krutrim Si Designs was launched in April 2023.

Tesla Introduces 'Optimus Gen 2,' an Advanced Humanoid Robot Designed to Automate Repetitive
Tasks

● Tesla has unveiled “Optimus Gen 2”, a new generation of its humanoid robot that should be able
to take over repetitive tasks from humans.
● Optimus, also known as Tesla Bot, has not been taken seriously by many outside of the more
hardcore Tesla fans, and for good reason.
 ● With this new version, Tesla says that the robot is now able to walk 30% faster.
● The company also claims a 10 kg weight reduction while improving balance.
About Tesla :
● Founded : July 1, 2003
● Headquarters : Austin, Texas, United States
● CEO : Elon Musk.
IIT Guwahati Researchers Introduce BRAHMA-2D Model for Comprehensive Understanding of Large
Braided River Flow

● Researchers at the Indian Institute of Technology Guwahati (IIT Guwahati) developed an

indigenous river model, BRAHMA-2D.
● BRAHMA-2D (Braided River Aid: Hydro-Morphological Analyzer) is a mathematical model to
gauge the flow of large braided rivers like the Brahmaputra.
● It is a quasi-3D river flow model which helps to understand how fast the water moves at different
depths inside a river and its circulation around a structure like a spur installed to prevent river
bank erosion.
● It was developed by the researchers at IIT Guwahati in collaboration with the Brahmaputra Board
under the Union Ministry of Jal Shakti.
● It was successfully validated on the Brahmaputra River near Majuli Island, the second largest
freshwater River Island in the world, in Assam, which is prone to river bank erosion.
● It integrates a two-dimensional model of water movement with a theory about entropy, a measure
of disorder or randomness.
NASA and IBM Unveil watsonx.ai AI Tool on Open-Source Platform Hugging Space at COP28

● At the COP28, National Aeronautics and Space Administration (NASA) and International
Business Machines Corporation (IBM) announced that an Artificial Intelligence (AI) tool called
watsonx.ai would be available on the open-source AI platform Hugging Space.
● It is an Artificial Intelligence tool jointly built by IBM and NASA.
● It will help users monitor the Earth from space, measuring environmental changes that have
already happened while also making predictions about the future.
● The model is also designed to be extremely simple to use.
 ● In the case of watsonx.ai, NASA provides the datasets (in terms of satellite images instead of
words,) and IBM created the foundation model to interpret them.
● It is a fit-for-purpose data store optimised for governed data and AI workloads.
About NASA :
● Established : July 29, 1958
● Headquarters : Washington, D.C, United States of America
● Administrator : Bill Nelson
About IBM:
● Established : 16 June 1911
● Headquarters : New York, United States
● CEO : Arvind Krishna
Google Maps, ONDC, and Namma Yatri Collaborate to Offer a Seamless Mobility Experience

● Google Maps, Namma Yatri, and the government-backed Open Network for Digital Commerce
(ONDC) have joined forces in a three-way collaboration to enhance the open mobility experience
for users.
● ONDC, as a government-backed open network for online commerce, is actively engaged in
partnerships with Namma Yatri and Google Maps to facilitate the integration of various mobility
options such as local trains, autorickshaws, cabs, and metro.
● End-to-End Seamless Experience: The primary goal of the partnership is to provide users with an
end-to-end seamless experience in open mobility, ensuring convenience and efficiency in
navigating through various transportation options.
● Namma Yatri's Contribution: Namma Yatri, an open network mobility app, is working in
conjunction with ONDC to integrate the scheduling, booking, and related services of Kochi Metro
into the Google Maps platform for the benefit of users.
● Incorporation of Diverse Mobility Options: The collaboration aims to incorporate a diverse range
of transportation modes, including local trains, autorickshaws, cabs, and metro services, into the
Google Maps interface to offer users comprehensive and integrated mobility solutions.
]
Meta Collaborates with ONDC to Bolster Small Businesses in India
 ● Meta, a prominent technology company, has entered into a collaboration with the government-
backed ecommerce network Open Network for Digital Commerce (ONDC).
● To provide support and upskilling opportunities for small businesses in India, leveraging Meta's
business and technical solution providers.
● Enhanced Buyer-Seller Experiences: Meta's involvement includes the deployment of its business
and technical solution providers to enhance conversational experiences between buyers and
sellers on WhatsApp, a Meta-owned platform.
● ONDC's Role in Business Transformation: ONDC will play a crucial role in assisting businesses
to become seller apps and facilitating their onboarding onto the network, contributing to the
digitization and transformation of these enterprises.
● Meta Small Business Academy: The Meta Small Business Academy is introduced as part of the
initiative, offering certification programs for entrepreneurs and marketers. These programs focus
on imparting digital marketing skills essential for growth on Meta's platforms, including
WhatsApp, Facebook, and Instagram.
● Integration with ONDC's Seller Support Chatbot Sahayak: As a component of the collaboration,
Meta plans to enhance the services provided on ONDC's seller support WhatsApp chatbot,
Sahayak. This is aimed at improving the efficiency and effectiveness of seller support services.
● Focus on Conversational Experiences: The partnership emphasizes the importance of seamless
conversational interactions between buyers and sellers, highlighting the role of technology in
facilitating smooth and efficient business transactions.

China launched 3 satellites into orbit from south china sea

● China successfully launched a Long March-11 carrier rocket into space, sending 3 satellites into
planned orbit.
● The Taiyuan Satellite Launch Center launched the rocket from waters off the coast of Yangjiang,
south China's Guangdong province.
● The satellites, Shiyan-24C, will be mainly used for space science and technology experiments.
● It was the 503rd mission of the Long March carrier rocket series.
● The Shiyan-24C satellites were developed by the Shanghai Academy of Spaceflight Technology
(SAST) and have the capability to carry out extensive space technology tests.
 ● The Long March 11 rocket model, with a length of 20.8 metres, a diameter of 2 metres, and a
liftoff weight of 58 metric tons, is capable of sending satellites to low-Earth orbit or sun-
synchronous orbit.
● The China Aerospace Science and Technology Corporation (CASC), the primary contractor for
the Chinese space program, has been instrumental in these developments.
About China :
● President: Xi Jinping
● Capital: Beijing
● Currency : Renminbi
China launched 2 MEO satellites to mega BeiDou constellation

● The BeiDou Satellite Navigation System, also known as the BDS - China's largest space-borne
infrastructure to date that provides quality services to worldwide users - added two more
satellites to its mega constellation.
● Carrying the 57th and the 58th satellites of the BDS system, a Long March-3B carrier rocket and
the Yuanzheng-1 upper stage attached to the carrier rocket thundered into the sky from the
Xichang Satellite Launch Center in Southwest China's Sichuan Province.
● The launch marked the first mission of sending two MEO satellites in one go to the BDS-3 since
the system was completed and officially commissioned in 2020, and also the finale of the
Xichang Satellite Launch Center for the year 2023.
● As of 2022, the core industrial scale of China's BDS has topped 140 billion yuan ($19.62 billion).
● With the successful launch of the two new MEO satellites, the BDS now has 15 BeiDou-2
satellites and 33 BDS-3 satellites.
NASA's OSIRIS-REx Spacecraft, Renamed OSIRIS-APEX

● In an unprecedented extension of its celestial duties, the spacecraft that delivered asteroid
samples from Bennu, OSIRIS-REx, has embarked on a new mission, and NASA has renamed it
as OSIRIS-APEX.
● It is a mission to study the physical changes to asteroid Apophis that will result from its rare close
encounter with Earth in April 2029.
● In April 2029, Apophis’ orbit will bring it within 20,000 miles (32,000 kilometres) of Earth’s surface
closer to Earth than our highest-altitude satellites.
 ● Mission Objectives : OSIRIS-APEX aims to observe and analyze the physical changes induced
by Earth's gravitational pull during Apophis' close flyby.
● Spacecraft Maneuvers : The OSIRIS-APEX spacecraft will execute maneuvers to dip toward the
surface of asteroid Apophis.
● Asteroid Apophis Characteristics : Apophis is an "S-type" asteroid composed of silicate (rocky)
material, with a mixture of metallic nickel and iron.
● It was discovered on June 19, 2004.
● It originated in the main asteroid belt between Mars and Jupiter.

India to launch 50 satellites in next five years to shore up geo-intelligence gathering, says ISRO Chief S
Somanath
● Indian Space Research Organisation (ISRO) is planning to launch 50 satellites in the next five
years for geo-intelligence gathering.
● Speaking at Techfest', an annual science and technology event organised by the Indian Institute
of Technology Bombay, ISRO Chairman S Somanath stated, this will include the creation of a
layer of satellites in different orbits with a capacity to track the movement of troops and image
thousands of kilometers of area.
● Somanath stated, for realising India's aspiration to become a strong nation, the current size of its
satellite fleet is not enough and it should be ten times what we have today.
● He also stated that it was important to improve the ability of satellites to detect changes, to bring
in a more AI-related and data-driven approach to analyse data, reduce data downloads and get
only the necessary information.
ISRO to welcome 2024 with India’s first X-Ray Polarimeter Satellite
● Building on the momentum of 2023, Indian Space Research Organisation or ISRO is set to start
2024 with a bang.
● India is set to launch its first X-Ray Polarimeter Satellite on January 1.
● The XPoSat mission will lift off at 9:10 am using a Polar Satellite Launch Vehicle (PSLV), the
space agency announced.
● ISRO’s XPoSat mission will help understand emission mechanisms of various astronomical
sources like black holes, neutron stars.
● India's XPoSat mission in its 5 years of life will measure orientation of vibration in the light wave
which will help understand radiation mechanism and geometry of celestial sources.
 ● The mission “capturing the degree and angle of polarization, would add two crucial dimensions to
our comprehension”.

ACQUISITIONS & MERGERS

SBI Mutual Fund Receives RBI Approval for Acquisition of 9.99% Stake in Karur Vysya Bank
• The Reserve Bank of India (RBI) has given its approval to SBI Mutual Fund (SBI MF) for acquiring
an aggregate holding of up to 9.99% of the paid-up share capital or voting rights of private sector
lender Karur Vysya Bank Limited.
• The approval comes with stringent conditions to ensure regulatory compliance and adherence to
relevant laws and guidelines.
• Time-bound Shareholding Acquisition : The approval is contingent on SBI MF acquiring a major
shareholding within one year from the date of RBI's letter.
About Karur Vysya Bank :
• Established : 1916
• Headquarters : Karur, Tamil Nadu
• MD & CEO : Mr. Ramesh Babu
• Tagline : Smart way to Bank
• Karur Vysya Bank is a Scheduled Commercial Bank.

SBI to acquire 20% stake in SBI Pension Funds

• The State Bank of India (SBI) announced that it is planning to acquire a 20% stake in SBI Pension
Funds, which is held by SBI Capital Markets.
• SBI currently holds a 60% stake in SBI Pension Funds.
• Through this latest transaction, the company is set to increase its stake to 80%, acquiring the
additional shares for a sum of ₹229.52 crore.
• The remaining 20% stake in SBI Pension Funds is held by SBI Funds Management.
•

About SBI :
• Established : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Dinesh Kumar Khara
• Tagline : The Banker To Every Indian
About SBI Pension Funds Private Limited :
• Established : 2007
• Headquarters : Mumbai, Maharashtra
• MD & CEO : Anthony Rodrigues
• SBI Pension Funds holds the designation of being the appointed pension fund manager entrusted
with the responsibility of overseeing the pension corpus within the National Pension System.
Government Plans to Generate ₹1,200 Crore through Sale of 8% Stake in IRCON via Offer for Sale
(OFS) with Floor Price Fixed at ₹154 per Share
• The Union government has proposed to sell 8% stake in IRCON International through an offer for
sale (OFS).
• The government will offload about 3.76 crore shares, which represents 4% stake through the OFS,
and in the case of oversubscription, an additional 4% stake will be under sale.
• The offer for sale will take place on December 8, 2023 through a separate window on the stock
exchanges.

About IRCON :
• Founded : 27 April 1976
• Headquarters : New Delhi, Delhi, India
UltraTech to Purchase Kesoram's Cement Business in Acquisition Deal
• UltraTech, part of the Aditya Birla Group, is set to acquire the cement business of Kesoram
Industries in an all-stock deal.
• The estimated enterprise value of the deal is approximately ₹7,600 crore, including the assumption
of debt.
• Demerger of Cement Business : Kesoram Industries, a flagship company of the BK Birla Group,
has decided to demerge its cement business.
• The cement business includes two integrated cement units located in Karnataka and Telangana,
boasting a combined installed capacity of 10.75 million tonnes per annum.
• Integration into UltraTech Cement : As per the deal, the demerged cement business from Kesoram
Industries will be integrated into UltraTech Cement.

About UltraTech Cement Limited :

• Founded : 1983
 • Headquarters : Mumbai, Maharashtra, India
• Managing Director : K. C. Jhanwar
• UltraTech Cement Limited is an Indian multinational cement company.

LIC Reduces Shareholding In Dixon Technologies From 5.012% To 3%

● Life Insurance Corporation of India (LIC) announced that Corporation’s shareholding in "Dixon
Technologies India Limited” has decreased from 29,97,913 to 17,94,395 Equity Shares,
decreasing its shareholding from 5.012% to 3.000% of the paid-up capital of the Company.
● There was a decrease of 2% in holding during the period from April 20, 2022 to December 15,
2023.
● The shareholding reduction was executed at an average cost of Rs 5,877.65 per share.
About Dixon Technologies :
● Founded : 1993
● Headquarters : Noida, Uttar Pradesh, India
● MD & CEO : Atul B Lall
● Dixon Technologies (India) Limited is the largest home grown design-focused and solutions
company engaged in manufacturing products in the consumer durables, lighting and mobile
phones/smart phones markets in India.
Infibeam Avenues acquires 49% stake in Pirimid Fintech
● Infibeam Avenues Limited (IAL), a Gandhinagar, Gujarat based fintech company, announces its
strategic foray into the capital markets and digital lending software market by acquiring a
significant 49% equity stake in Pirimid Fintech,a Ahmedabad, Gujarat based Financial Services
Company investing Rs 25 crore to solidify this strategic partnership.
● This move is in direct response to the surging demand in the thriving global capital markets for
cutting-edge secured and zero latency Artificial Intelligence (AI) backed software to streamline
trading, research and investment processes.
CURRENT AFFAIRS : PERSON IN NEWS
Vita Dani becomes 1st Indian to be inducted as ITTF governing board member

● Sports entrepreneur Vita Dani has become the first Indian to be inducted as a governing board
member of the International Table Tennis Federation's (ITTF) Foundation.
 ● In her capacity as the Chairperson of Ultimate Table Tennis, she has been reshaping the
landscape of the sport, ensuring accessibility across all segments of society, and orchestrating
multiple tournaments spanning 25 states in India.
● Vita and her organisation (Dani Foundation) have played a big role in shaping the upward
trajectory of Indian table tennis.
● She is also the co-owner of the Chennaiyin Football Club (CFC), which features in the Indian
Super League.
About ITTF Foundation :
● The Foundation was established in 2018 by the ITTF to attract more people to the sport.
● ITTF and ITTF Foundation President : Petra Sorling.

Naila Kiani becomes first Pakistani woman to summit world’s 10th highest mountain
● Pakistan's Naila Kiani has become the first woman from the country to summit 8,091m high
Annapurna I in Nepal.
● Kiani, mother of two and a banker in Dubai, reached the top of the world’s 10th highest mountain.
● She scaled Annapurna I along with Pakistani mountaineer Shahroz Kashif.
● The six-member team included two Pakistanis and India's Arjun Vajpayee.
● Kiani's summit was announced by her expedition organisers Seven Summit Treks.
● She has also become the first Pakistani woman to scale four peaks of over 8,000m.
● Naila had earlier submitted K2, G1 and G2.
● Naila is also aiming to scale Mt Everest, the world’s highest mountain and 8516m high Lhotse,
the fourth tallest mountain in her current visit to Nepal.
● In a separate statement, Alpine Club of Pakistan secretary Karrar Haidri stated Shehroze has
become the youngest mountaineer in the world to summit eleven peaks above 8000 meters.

SPORTS NEWS
Vaishali Rameshbabu makes history by becoming India's third Female Grandmaster
• In a historic achievement for Indian chess, Vaishali Rameshbabu secured her grandmaster title by
crossing 2,500 International Chess Federation (FIDE) ranking points during the IV El Llobregat
Open in Spain.
• Vaishali has defeated Turkish Tamer Tarik Selbes (2238) in the second round to surpass rating
and has started the tournament with two consecutive wins.
 • She has now become the third Indian female player to achieve this prestigious title, joining the elite
company of Koneru Humpy and Harika Dronavalli.

India to take on hosts South Africa in their first T20 International in Durban
• India will take on hosts South Africa in their first T20 International in Durban.
• Suryakumar Yadav-led young squad has many new names as the senior brass of the team comes
in during the Test format of the tour.
• Aiden Markram is leading the South African squad and they have also included many emerging
players who will show their potential in the great team.
Indian Army's Captain Geetika Koul becomes first woman medical officer to be deployed at Siachen
• Captain Geetika Koul from the Snow Leopard Brigade has become the first woman medical officer
in the Indian Army to be deployed at Siachen, the world’s highest battlefield, the Fire and Fury
Corps.
• This achievement follows her successful completion of rigorous induction training at the esteemed
Siachen Battle School, which includes high-altitude acclimatisation, survival techniques, and
specialised medical procedures.
• The Fire and Fury Corps of the Indian Army announced this milestone on social media, highlighting
the significance of Captain Koul’s deployment in promoting gender inclusion within the military.
About Siachen Glacier :
• The Siachen Glacier is a glacier located in the eastern Karakoram range in the Himalayas, just
northeast of the point NJ9842 where the Line of Control between India and Pakistan ends.
• At 76 km long, it is the longest glacier in the Karakoram and second-longest in the world's non-
polar areas.
• Siachen Glacier is at an altitude of 5400 metres from the sea level.
• Temperatures at Siachen Glacier dip as low as -45 degrees Celsius and the harsh climate
conditions mean that even a soldier cannot be stationed at Siachen Glacier for long periods.
Union Minister Anurag Singh Thakur formally inaugurates first-ever Khelo India Para Games in New
Delhi
• Union Minister of Youth Affairs and Sports Anurag Singh Thakur formally inaugurated the first-ever
Khelo India Para Games (KIPGs) in New Delhi.
• Mr Thakur said that the event is not just the celebration of our spirit of sportsmanship but it is a
light that will bring inclusivity and empowerment in India.
 • He further pointed out that KIPGs will further reiterate the PM's vision of "Kheloge to Khiloge".
• More than 1,400 participants from across 32 states and Union Territories including Services Sports
Control Board are participating in the 8-day event.
• The Para athletes will compete for honours in 7 disciplines including para athletics, para shooting,
para archery, para football, para badminton, para table tennis and para weight lifting.
India’s Ashwini Ponnappa and Tanisha Crasto win women’s doubles title at Guwahati Masters
badminton tournament
• India’s Ashwini Ponnappa and Tanisha Crasto won the women’s doubles title at the Guwahati
Masters 2023 badminton tournament.
• Ashwini Ponnappa and Tanisha Crasto, the second seeds at the BWF Super 100 tournament, beat
Taipei’s Sung Shuo Yun and Yu Chien Hui 21-13, 21-19 to win what was their second title as a
pair.
• Results at the Guwahati Masters 2023 badminton tournament will count towards players’ qualifying
rankings for the Paris 2024 Olympics.
Khelo India Games to be held in Tamil Nadu in January 2024
● Khelo India Games will be held in Tamil Nadu in January 2024.
● The State Government said that the games will be held in Chennai, Coimbatore, Madurai and Trichy
from 19th to 31st January, 2024.
● More than 5,500 sports persons and over 1,600 coaches are expected to participate in the event.
More than 1000 referees and 1200 volunteers will be part of the sporting event in which 27 types of
sport will be played.
● For the first time, squash will be included in Khelo India games.
Khelo India and Svayam collaborated to improve support for Para Athletes at Khelo India Para Games
2023
● Khelo India, the flagship program of the Ministry of Youth Affairs and Sports, and Svayam, India's
pioneering accessibility organisation, joined hands to ensure transportation and infrastructure are
accessible in New Delhi during the Khelo India Para Games.
● Accessible transportation services were provided for more than 1400 para-athletes.
● At the Khelo India Para Games 2023, more than 500 wheelchair-using players participated.
First-ever Khelo India Para Games conclude in New Delhi
● The first-ever Khelo India Para Games (KIPG) concluded in New Delhi with Haryana winning the
inaugural title by securing 105 medals including 40 gold, 39 silver, and 26 bronze.
● KIPG 2023, which began on December 10, witnessed the participation of around 1,450 para-athletes
from across the country.
● Uttar Pradesh came second with 62 medals including 25 gold, 23 silver, and 14 bronze, while Tamil
Nadu finished third with 20 gold, eight silver, and 14 bronze medals.
● Athletes from 32 states and Union Territories participated in the Games.
75th Inter State-Inter Zonal Badminton Championship 2023: Maharashtra bags women's and AAI wins
men's title events in Guwahati
● In team events of the 75th Inter State-Inter Zonal Badminton Championship 2023, Maharashtra
bagged women's and Airport Authority of India (AAI) won the men's title events in Guwahati.
The prestigious national championship organized by Badminton Association of India is being held in
Assam after four years.
● The dominant AAI team appeared in both the men’s and women’s team finals and managed to win
the title in the men’s category as they outclassed Karnataka 3-0.
● In the women’s team event final, Maharashtra dominated AAI 3-0 with impressive displays from
Shruti Mundada, Alisha Naik and the doubles pair of Simran Singhi and Ritika Thaker.
National Sports Awards 2023 Announced; Chirag C Shetty and Satwik Sai Raj Rankireddy to Receive
Major Dhyan Chand Khel Ratna Award
● The Government announced the National Sports Awards 2023. Badminton players Chirag C Shetty
and Satwik Sai Raj Rankireddy will be honoured with the Major Dhyan Chand Khel Ratna Award.
● Twenty-six sportspersons will receive the Arjuna Awards.
● Wrestling coach Lalit Kumar, Chess coach R. B. Ramesh, Para Athletics coach Mahaveer Prasad
Saini,
Hockey coach Shivendra Singh and Mallakhamb coach Ganesh Prabhakar Devrukhkar will be
honoured with the Dronacharya Award in the regular category.
● Golf coach Jaskirat Singh Grewal, Kabaddi coach Bhaskaran E and Table Tennis player Jayanta
Kumar Pushilal will be honoured with the Dronacharya Award in the lifetime category.
● Dhyan Chand Award for Lifetime Achievement in Sports and Games, will be given to Manjusha
Kanwar for Badminton, Vineet Kumar Sharma for Hockey and Kavitha Selvaraj for Kabaddi.
● Maulana Abul Kalam Azad (MAKA) Trophy 2023 will be presented to Guru Nanak Dev University,
Amritsar as the overall winning university, Lovely Professional University, Punjab is the 1st runner up
University and Kurukshetra University, Haryana is the 2nd runner up University.
● The awardees will receive their awards from President Droupadi Murmu in a function at Rashtrapati
 Bhavan on the 9th of next month.
Under-19 Asia Cup: Bangladesh crushes UAE to lift trophy
● Bangladesh won the Under-19 Asia Cup by defeating UAE in the finals.
● Bangladesh clinched the Under-19 Asia Cup title by defeating UAE by 195 runs.
● UAE gets all out at 87 runs in 24.5 overs.
● Bangladesh scored 282/8 after UAE opted to field.
● Ashiqur is declared as both player of the match and series. Ashiqur scored 378 runs in five innings.
● The 2023 ACC Under-19 Asia Cup was played between 8 to 17 December 2023.
● Afghanistan, Bangladesh, India, Nepal, United Arab Emirates Japan, Pakistan and Sri Lanka took
part in the tournament.
● It was held in the United Arab Emirates.

Sanjay Singh elected as President of Wrestling Federation of India

• Sanjay Singh has been elected as the new president of the Wrestling Federation of India (WFI).
• He was elected after the results of election of office bearers, in which he got 40 votes.
• The other applicant, Commonwealth Games gold medal-winning wrestler, Anita Sheoran received
seven votes.
• Sanjay Singh is the vice president of the Uttar Pradesh Wrestling Association and previously served
on the WFI's executive council. He has also been the national federation's joint secretary since
2019.
• Meanwhile, Sakshi Malik, 2016 Rio Olympics bronze medallist has announced quitting wrestling
after Sanjay Singh being elected as president of Wrestling Federation of India.

Chennai Grand Masters 2023; Dommaraju Gukesh clinches title

● In Chennai Grand Masters 2023 tournament, Indian chess prodigy, Dommaraju Gukesh clinched the
title by holding compatriot Pentala Harikrishna for a draw.
● Meanwhile, Arjun Erigaisi secured the second spot.
● Both Arjun and Gukesh finished the event at 4.5 points out of 7.
● Pentala Harikrishna finished third with 4 points, as all three Indians in the tournament ended the
campaign with a podium finish.
● With this win, Gukesh takes the lead in the FIDE Circuit.
● If he keeps the lead till 1st January 2024, he will qualify for the highly coveted Candidates
Tournament 2024.
● The 2024 Candidates Tournament is an eight-player chess tournament, held to determine the
challenger for the 2024 World Chess Championship.
● It is scheduled to be held from 2 to 25 April 2024 in Toronto, Canada.
Union Minister Anurag Singh Thakur to launch Official logo and mascot for Khelo India Youth Games in
Chennai
● Union Minister of Information and Broadcasting Anurag Singh Thakur will launch the Official logo
and mascot for Khelo India Youth Games in Chennai.
● He will attend the ceremony as the chief guest for the launch of official logo, jersey, mascot, and
torch.
● The Khelo India Youth Games will be held from January 19th to 31st next year.
● The upcoming edition will take place in Chennai, Trichy, Madurai and Coimbatore.
● The previous editions of the Youth Games have been held in Delhi, Pune, Guwahati, Panchkula,
and Bhopal.
● Renowned sports icons including Chess Grand Master Vishwanathan Anand, Tokyo Olympian
Fencer Bhavani Devi, Squash Champion Joshna Chinappa and Hockey Asia Cup bronze medalist
S. Mareeswaran, among other esteemed personalities will attend the programme.
Mitchell Starc becomes most expensive player in league's history, goes to KKR for Rs 24.75 crore
● Mitchell Starc became the most expensive player in IPL history, bought by KKR for Rs 24.75 crore.
● Australian left-hander faster bowler Mitchell Starc has been signed by Kolkata Knight Riders for Rs
24.75 crore in the IPL 2024 auction in Dubai.
● He also became the most expensive player in IPL history, surpassing his Australian captain Pat
Cummins, who was signed by SRH for Rs 20.5 crore earlier on the same day.
● Starc last played in the IPL for Royal Challengers Bangalore in 2015.
● That year, he took 20 wickets in 13 matches at an average of 14.55 and an economy rate of 6.76.
● Starc was signed by Kolkata Knight Riders in 2018 for Rs 9.40 crore but he got injured.
Sakshi Malik: India’s Olympic medal winner quits wrestling
• Olympic bronze medalist Sakshi Malik announced her retirement from wrestling in New Delhi.
• Sakshi Malik last participated in the Commonwealth Games in 2022 in Birmingham.
• The Indian wrestler won the gold medal in the women's 62 kg category but has not participated in
international events since then.
• Sakshi was born on 3 September 1992 in the Rohtak district of Haryana.
• She emerged from the shadows of Geeta Phogat to qualify for the Rio 2016 Olympics and clinched
the bronze medal on her Games’ debut. It was India’s first Olympic medal won by a female wrestler.

Anmol Kharb wins women’s singles title at National Badminton Championships in Guwahati
• In Badminton, Anmol Kharb has won the women’s singles title at the National Badminton
Championships 2023 in Guwahati.
• The teenager lost the first game of the final to Tanvi Sharma but fought back to level the score.
• The men’s singles title clash saw an upset as the unseeded Chirag Sen secured the national title
after defeating fourth-seed Tharun M.
• In the mixed doubles summit clash, Dhruv Kapila and Tanisha Crasto defeated the sixth-seeded duo
of Nitin Kumar-Navdha M anglam 21-13, 21-8 to claim their maiden national title.
• Priya Devi Konjengbam and Shruti Mishra lifted the women’s doubles title with a win over Ritika
Thaker-Simran Singh.
• The men’s doubles final was an edge-of-the-seat thriller where K Pruthvi Roy-Suraj Goala caused an
upset by defeating Krishna Prasad Garaga-Vishnuvardhan Goud Panjala.
India’s Hardik Singh named FIH player of the year, Savita Punia bags third women’s goalkeeper of the
year award
• Indian hockey players Hardik Singh and Savita Punia have won major awards at the FIH Hockey
Star Awards for the 2023 season.
• Singh was named the men’s player of the year while Punia won the best women’s goalkeeper of the
year award.
• Hardik became the third male player from India to win the coveted award, joining Manpreet Singh
(2019) and Harmanpreet Singh (2020-21 and 2021-22).
• Besides Hardik, India women’s team skipper Savita Punia won the FIH Goalkeeper of the Year
award for the third consecutive time.
• Notably, this is Hardik’s second significant accolade this year as he had won the esteemed Hockey
India Balbir Singh Sr Award for Player of the Year 2022 earlier this year.
Coca-Cola extends global partnership with ICC
● Beverage major Coca-Cola has renewed its partnership with the International Cricket Council (ICC),
securing an eight-year commitment that stretches through 2031, encompassing all major ICC world
events in various cricket formats.
● This move solidifies one of ICC's longest-ever associations with a single brand, continuing a
partnership that began in 2019.
● Coca-Cola's association with major sports events is a long-standing tradition, highlighted by its eight-
decade-long relationship with the Olympics and over forty years with FIFA and the T20 World Cup.
About ICC
● Headquarters: Dubai, United Arab Emirates
● Founded: 15 June 1909
● CEO: Geoff Allardice
● Chairman: Greg Barclay
IOA constitutes Ad Hoc committee to supervise operations of Wrestling Federation of India
● The Indian Olympic Association (IOA) constituted an Ad Hoc committee comprising Bhupinder Singh
Bajwa as Chairman, MM Somaya and Manjusha Kanwar as Members.
● The committee is given the responsibility to observe and supervise the operations of the Wrestling
Federation of India (WFI).
● The Indian Olympic Association stated that in its order, that it has found that the recently appointed
President and officials of WFI have made arbitrary decisions in violation of constitutional provisions.
● The officials overturned the rulings of the IOA-appointed ad hoc committee without following due
process.
● This not only highlights a governance gap within the Federation but also signifies a noticeable
departure from established norms.

OBITUARIES
American diplomat and Nobel winner Henry Kissinger Passed away
• American diplomat and Nobel winner Henry Kissinger passed away at the age of 100 years.
• Heinz Alfred Kissinger was born in Furth, Germany, on May 27, 1923, and moved to the United
States with his family in 1938 before the Nazi campaign to exterminate European Jews.
• He was a German-born American diplomat, political scientist, geopolitical consultant, and politician.
Awards & Honors :
• The 1973 Peace Prize was awarded jointly to Henry Kissinger and Le Duc Tho of North Vietnam.
• Le Duc Tho had declined the award, making it one of the most controversial prizes ever awarded.
• On January 13, 1977, Kissinger received the Presidential Medal of Freedom from President Gerald
Ford.
Veteran Communist and CPI Kerala secretary Kanam Rajendran passed away
• The state secretary of the ruling Communist Party of India (Marxist) Kanam Rajendran passed
away at the age of 73 in Kochi, Kerala.
• Kanam Rajendran was born on 10 November 1950 in Koottikkal village of Kerala's Kottayam
district.
• He entered politics at a tender age and became the state secretary of the Communist Party of
India’s (CPI's) youth wing All India Youth Front (AIYF) at 23.

Kuwait's ruling emir, Sheikh Nawaf Al Ahmad Al Sabah Passed away

● Kuwait's ruling emir, Sheikh Nawaf Al Ahmad Al Sabah passed away at the age of 86.
● Kuwait's deputy ruler and his half-brother, Sheikh Meshal Al Ahmad Al Jaber, now 83, had been
the world's oldest crown prince.
● Meshal, a longtime leader in the country's security services, had been named new emir and now
is one of the Gulf Arab countries' last octogenarian leaders.
● Nawaf Al-Ahmed Al-Jaber Al-Sabah was born on 25 June 1937 in Kuwait City, Kuwait.
● Nawaf was nominated as crown prince on 7 February 2006, during the reign of his half-brother
Sabah Al-Ahmad Al-Jaber Al-Sabah.
● During his three-year rule as emir, he grappled with internal political disputes
● He was Emir of Kuwait from 29 September 2020 until his death in 2023.
About Kuwait :
● Prime Minister : Ahmad Nawaf Al-Ahmad Al-Sabah
● Capital : Kuwait City
● Currency : Kuwaiti dinar

Vijayakanth death: Tributes pour in for DKDM founder

● Chennai: Desiya Murpokku Dravida Kazhagam (DMDK) founder and popular yesteryear Tamil actor
Narayanan Vijayaraj Alagarswami, popularly known as Vijayakanth, who raised his voice against
corruption on the big screen before taking the political plunge, passed away after a prolonged illness
on December 28. He was 71.
● Popularly known as ‘Captain’ after he performed the role of an IFS officer in the 1991 blockbuster
Tamil movie ‘Captain Prabhakaran’, Vijayakanth was not in good health since 2016, leading him to
stay away from party affairs.
● He was last spotted at the DMDK’s general council meeting on December 14, when his wife V
Premalatha, was elected as party chief.
Father of European integration, Jacques Delors dies at 98
● Jacques Delors, a passionate advocate of post-war European integration and a founding father
of the European Union's single currency project, has died.
● The French socialist served as president of the European Commission, the EU executive, for
three terms - longer than any other holder of the office - from January 1985 until the end of 1994,
a time of rapid change for Europe's emerging union.
● The era was marked by forthright clashes of vision between federalists such as Delors, who
believed passionately in an "ever closer union", and Britain's then prime minister Margaret
Thatcher, who firmly resisted any shift of power to Brussels.
● So antagonistic did relations between London and Brussels become towards the end of
Thatcher's time in office, especially over the plans for monetary union, that The Sun tabloid
famously ran a front page headline reading: "Up Yours Delors".
● Delors' death came three years after Britain fully exited the EU on Dec. 31, 2020, following
tortuous negotiations and 47 years of membership.