07th December, 2023

1. Ministry of Panchayati Raj has launched Geographic Information System application “Gram Manchitra” to encourage the Spatial Planning by the Gram Panchayat.
2. India has joined Battery Energy Storage Systems (BESS) Consortium for renewable energy integration.
3. Prime Minister Narendra Modi has inaugurated first edition of the Indian Art, Architecture and Design Biennale (IAADB) 2023 at Red Fort, New Delhi.
4. Ministry of Ports, Shipping and Waterways has launched “HaritSagar” Green Port Guidelines to reduce carbon intensity and to develop an environment-friendly ecosystem at all Major Ports.
5. Central Board of Indirect Taxes & Customs (CBIC) has launched India-Korea Electronic Origin Data Exchange System (EODES).
6. 18 new products of Uttarakhand have got Geographical Indication (GI) tag.
7. Prime Minister Narendra Modi has inaugurated Uttarakhand Global Investors Summit 2023 at the Forest Research Institute in Dehradun, Uttarakhand.
8. World Bank has unveiled plan to address rising threat of methane emission globally.
9. Bank of Baroda has introduced BOB Parivar Account for Savings and Current Accounts.
10. HDFC bank has partnered with TATA Neu to launch TATA Neu HDFC Bank Credit Cards.
11. SBI Card has joined Bharat BillPay in credit card category.
12. Aditya Birla Sun Life Insurance Company Limited (ABSLI) has introduced the ABSLI Salaried Term Plan for salaried individuals.
13. India is set to become the third-largest economy by 2030 and is expected to be the fastest growing major economy in the next three years as per S&P ‘Global Credit Outlook 2024: New Risks, New Playbook’.
14. Open Network for Digital Commerce (ONDC) has launched ‘Build for Bharat’ initiative with multiple participants.
15. Union bank of India has collaborated with Accenture to improve operational efficiency.
16. Suganthy Sundararajs, Regional Head of Public Relations, Apollo Hospitals has been awarded PRSI National Award for Outstanding Contributions to the Public Relations Society of India and the public relations industry.
17. UNCTAD eWeek

National News

1. Ministry of Panchayati Raj has launched Geographic Information System application “Gram Manchitra” to encourage the Spatial Planning by the Gram Panchayat.
   • More about Gram Manchitra–
     • It helps and supports Gram Panchayats to perform planning at Gram Panchayat level using geo-spatial technology.
     • It provides a single/ unified Geo Spatial platform to better visualize the various developmental works to be taken up across the different sectors.
     • It will be aided by previously launched mActionSoft application of Ministry of Panchayati Raj.

   • What is mActionSoft–
     • It is a mobile based solution which helps in capturing photos with Geo-Tags (i.e. GPS Coordinates) for the works which have asset as an output.
     • Geo-tagging of the assets is done in all three stages viz.

     (i) before start of the work

     (ii) during the work and

     (iii) on completion of work

     • How it will help?
       • Assets geo-tagged using the m-ActionSoft application are available on Gram Manchitra, enhancing the visualization of various developmental works in the Gram Panchayats.
         Source: PIB

2. India has joined Battery Energy Storage Systems (BESS) Consortium for renewable energy integration.
   • About BESS–
     • BESS are devices that store energy from renewables sources like solar and wind and then release it when the power is needed most.
     • India is part of BESS and committed to secure 5 GW of BESS commitments by the end of 2024.
   • What is Battery Energy Storage Systems (BESS) Consortium?
     • It is an initiative led by The Global Leadership Council (GLC) of the Global Energy Alliance for People and Planet (GEAPP) to boost the adoption of renewable energy sources.
   • Objective of BESS–
     • To establish 4,000 Mwh of BESS projects by 2030-31 for providing financial assistance of up to 40% of the capital cost through budgetary support in the form of Viability Gap Funding (VGF).

3. Prime Minister Narendra Modi has inaugurated first edition of the Indian Art, Architecture and Design Biennale (IAADB) 2023 at Red Fort, New Delhi.
   • Objective–
     • To establish itself as a flagship global cultural initiative for the country
   • Key point–
     • National Gallery of Modern Art (NGMA) is the curators and partners include-
       • Archaeological Survey of India
       • National Council of Science Museums
       • Lalit Kala Akademi
       • Council of Architecture
       • Ministry of Education
   • Exhibition is based on seven themes–
     • Pravesh: Rite of Passage: Doors of India
     • Bagh-e-bahar: Gardens as Universe: Gardens of India
     • Sampravah: Confluence of Communities: Baolis of India
     • Sthapatya: Anti-fragile algorithm: Temples of India
     • Vismaya: Creative Crossover: Architectural Wonders of Independent India
     • Deshaj Bharat Design: Indigenous Designs
     • Samatva: Shaping the Built: Celebrating Women in Architecture
       Source: Business Standard

   
   
4. Ministry of Ports, Shipping and Waterways has launched “HaritSagar” Green Port Guidelines to reduce carbon intensity and to develop an environment-friendly ecosystem at all Major Ports.
   • Key points under of the guidelines–
     • Implementation of technology to allow ships to connect to onshore power grids while docked, reducing the need for onboard generators and minimizing emissions.
     • Transition of port equipment, such as cranes and vehicles, to electric power to reduce reliance on fossil fuels and decrease carbon emissions.
     • Development of infrastructure at select ports for the storage, bunkering, and refuelling of green hydrogen, green ammonia, and other environmentally friendly fuels.
       Source: PIB

5. Central Board of Indirect Taxes & Customs (CBIC) has launched India-Korea Electronic Origin Data Exchange System (EODES).
   • Objective–
     • To implement India-Korea Comprehensive Economic Partnership Agreement (CEPA) by use of electronic exchange of origin information between the two customs administrations in respect of the goods traded.
       Source: PIB

State News

1. 18 new products of Uttarakhand have got Geographical Indication (GI) tag.
   • Key points–
     • It became first state in the country to get highest number of 18 GI tags in a single day.
     • New products include–
       • Uttarakhand Chaulai, Jhangora, Mandua, Red Rice, Almora Lakhori Chilli, Berinag Tea, Burans Sharbat, Ramnagar Nainital Litchi, Ramgarh Peach, Malta, Pahari Tor, Gahat, Kala Bhatt, Bicchu Booti fabric, Nainital candle, Kumaoni colored Pichhoda, Chamoli Ramman mask and Likhai wood carving.

2. Prime Minister Narendra Modi has inaugurated Uttarakhand Global Investors Summit 2023 at the Forest Research Institute in Dehradun, Uttarakhand.
   • Objective–
     • To promote the Uttarakhand as a major investment destination
   • Key points–
     • PM has launched the House of Himalayas brand to promote local products and increase the income of self-help groups.
     • Multiple MoUs worth Rs 2.5 lakh crore were signed for investment in various sectors.
       Source: Business Standard

Banking and Economy

1. World Bank has unveiled plan to address rising threat of methane emission globally.
   • Key points–
     • World Bank will launch minimum 15 country led programs to specifically target methane emission within next 18 months.
     • It will include employing strategic interventions to control environmental degradation and promote sustainable practices.
     • It involves reducing methane emission from various sources such as rice production, livestock operation and waste production.
   • Collaboration–
     • World Bank partnering with Germany, Norway, USA, UAE, and the private sector for reducing methane emissions across the energy value chain.
   • Launching two platforms–
     • CH4D for methane reduction in agriculture and waste
     • GFMR for reducing methane leaks in oil and gas
       Source: ET

2. Bank of Baroda has introduced BOB Parivar Account for Savings and Current Accounts.
   • More about BOB Parivar Account–
     • It groups all the bank account belonging to members of single family under one family.
     • Each account will be operated independently by the primary account holder.
     • Maintenance of the quarterly average balance (QAB) is recorded at the Group/ Family level which removes the need to maintain QAB in every single account.
     • ‘My Family, My Bank’ segment has been launched as a part of the Bank’s “BOB Ke Sang Tyohaar Ki Umang” festive campaign.

3. HDFC bank has partnered with TATA Neu to launch TATA Neu HDFC Bank Credit Cards.
   • More about partnership–
     • HDFC bank will launch 2 variants of credit carder powered by RuPay/ Visa

   • Two variants are–
     • Tata Neu Infinity HDFC Bank Credit Card
     • Tata Neu plus HDFC Bank Credit Card

4. SBI Card has joined Bharat BillPay in credit card category.
   • Key points–
     • Collaboration enables customers to utilise Bharat BillPay’s diverse payment modes, ensuring smooth and secure transactions.

   
   

5. Aditya Birla Sun Life Insurance Company Limited (ABSLI) has introduced the ABSLI Salaried Term Plan for salaried individuals.
   • More about plan–
     • It is categorised as non-linked, non-participating, life individual, pure risk, and a premium plan.
     • It empowers salaried individuals to customise their protection plans based on their unique needs.
   • Key features of the plan–
     • Entry age– 21 years to 55 years
     • Maturity– Policy matures at the age of 70 years
     • Individuals can choose from four life cover options: Life Cover, Return of Premium, Fixed Income Cover, and Increasing Income Cover (5% or 10% escalation rate).
     • Premium discounts of 7% on the initial year premium, additional 2% discount for female policyholders.
     • Extended protection includes policy term up to 49 years.
     • Critical illness coverage against 42 specified critical illnesses through Accelerated Critical Illness (ACI).
       Source: livemint
6. India is set to become the third-largest economy by 2030 and is expected to be the fastest growing major economy in the next three years as per S&P ‘Global Credit Outlook 2024: New Risks, New Playbook’.
   • S&P GDP Projections–
     • FY 2023-24- 6.4%
     • FY 2024-25- 6.4%
     • FY 2025-26- 6.9%
     • FY 2026-27- 7.0%
     • Key observations–
       • At present India is 5th largest economy behind the US, China, Germany and Japan respectively.
       • India will be the fastest growing major economy in the next three years.
       • Unlocking potential depends on upskilling workers and increasing female workforce participation.
       • Domestic digital market will contribute significantly in startup ecosystem during next decade.
       • Demographic dividend realization is important for sustained growth.
         Source: Indian Express
7. Open Network for Digital Commerce (ONDC) has launched ‘Build for Bharat’ initiative with multiple participants.
   • Participants–
     • Google Cloud India, Antler in India, Paytm, Protean and Startup India
   • Objective–
     • To tackle diverse challenges in digital commerce, promoting industry innovation to develop practical solutions
   • The initiative is designed to deliver three distinct outcomes-
     • Category 1–
       • NextGen Ventures, which is designed to supercharge venture creation on ONDC.
       • It is open to aspiring founders exploring multiple ideas or early-stage founder teams working on an idea.
     • Category 2–
       • It includes scalable solutions and invites participation from organisations or individuals including students with a focus on problem solving.
     • Category 3–
       • It includes foundation solutions which are open exclusively for college students, who are 18+ years of age.
         Source: ET

8. Union bank of India has collaborated with Accenture to improve operational efficiency.
   • Objective–
     • To develop robust data visualisation and reporting capabilities including interactive dashboards and reports for business, operational and regulatory purposes

   
   

Source: Hindu Business Line

Awards

1. Suganthy Sundararajs, Regional Head of Public Relations, Apollo Hospitals has been awarded PRSI National Award for Outstanding Contributions to the Public Relations Society of India and the public relations industry.
   • NHPC has won the 2nd prize under the ‘Annual Report’ category of ‘PRSI National Awards 2023’.
     Source: The print, PIB

Important Days

1. December 4-8– UNCTAD eWeek; Theme– Shaping the future of the digital economy
   Source: unctad

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