24th December, 2021 – Daily News

Topics covered – India’s first Intelligent Transport System , Agra Metro Rail Project, State General Category Commission, “Karnataka Protection of Right to Freedom of Religion Bill, 2021”, , Prevention of Damage to Public and Private Property and Recovery of Damages Bill 2021, Shakti Criminal Laws Bill , Haryana Excise Act, Banas Dairy Sankul , German Development Bank – KFW , Army Secure Indi-Geneous Messaging Application (ASIGMA) messaging application , Multi-terrain Artillery Gun (MArG) 155 – BR , MoU with Polish Chamber of Statutory Auditory , Experimental Advanced Superconducting Tokamak (EAST), Europol, Global Unicorn Index 2021, Akasa Air , KfW Development Bank , MoneyGram , amendments to the Insolvency and Bankruptcy Code, card tokenisation deadline , IFFCO-TOKIO General Insurance , 5th Siddha Day , National Farmers Day (Kisan Diwas) , National Consumer Day , BBC Sports Personality of the Year 2021, ‘Most Effective Bank-Fintech Partnership: Agile and Adaptable’ award , World Anti-Doping Agency (WADA) accreditation.

Bulletins

  1. Union Minister for Road Transport and Highways Nitin Gadkari launched the India’s first Intelligent Transport System on Eastern Peripheral Expressway at Dasna, Ghaziabad.
  2. Central Govt and European Investment Bank (EIB) have signed a Finance Contract for first tranche loan of Euro 250 million for Agra Metro Rail Project.
  3. Punjab has also announced to create a State General Category Commission for unreserved classes.
  4. “Karnataka Protection of Right to Freedom of Religion Bill, 2021”, also known as Anti-Conversion Bill, was passed by the State Assembly of Karnataka.
  5. Madhya Pradesh has passed the Prevention of Damage to Public and Private Property and Recovery of Damages Bill 2021.
  6. Maharashtra has passed the Shakti Criminal Laws Bill that recommends capital punishment in rape cases.
  7. Haryana government has passed an amendment in the Haryana Excise Act, which will reduce the drinking age from 25 years to 21 years.
  8. Banas Dairy Sankul was inaugurated by PM Narendra Modi at the Uttar Pradesh State Industrial Development Authority Food Park, Karkhiyaon.
  9. India govt and the German Development Bank – KFW have signed agreements for Euro 140 million reduced interest loan and Euro 2 million grant for Energy Reform Programme, Madhya Pradesh.
  10. Indian Army has launched an Army Secure Indi-Geneous Messaging Application (ASIGMA) messaging application for secure in-house communication.
  11. Bharat Forge Ltd. has launched one of its kind indigenous Multi-terrain Artillery Gun (MArG) 155 – BR at the hands of Defence Minister of India, Rajnath Singh.
  12. Indian Institute of Chartered Accountant (ICAI) has signed an MoU with Polish Chamber of Statutory Auditory for co-operation.
  13. Competition Commission of India (CCI) and Competition Commission of Mauritius (CCM) have signed an MoU for promotion and strengthening of co-operation in competition law and policy.
  14. China conducted the Experimental Advanced Superconducting Tokamak (EAST), also known as ‘Artificial Sun’ experiment.
  15. South Korea has become the 10th country outside of Europe to join the European Union (EU) law enforcement cooperation agency, Europol, that fights terrorism and other international crime.
  16. Hurun India has released the Global Unicorn Index 2021.
  17. Rakesh Jhunjhunwala-backed low-cost airline Akasa Air has unveiled its brand logo ‘inspired by elements of the sky’.
  18. REC Limited has entered into an agreement with KfW Development Bank for availing ODA term loan of USD 169.5 million under Indo-German Bilateral Partnership.
  19. Paytm Payments Bank has partnered with MoneyGram — a peer-to-peer remittance company — to enable international fund transfer directly to Paytm Wallet.
  20. Ministry of Corporate Affairs has proposed amendments to the Insolvency and Bankruptcy Code (IBC) to strengthen the rescue response towards distressed companies.
  21. RBI had extended the card tokenisation deadline by six months to June 30, 2022 from December 31, 2021.
  22. HSBC Asset Management (India) Ltd has acquired L&T Investment Management Ltd for $425 million (around Rs 3,200 crore).
  23. IFFCO-TOKIO General Insurance has appointed HO Suri as the MD & CEO.
  24. 5th Siddha Day is celebrated on December 23 in India.
  25. National Farmers Day (Kisan Diwas) is observed on December 23 to honour the birth anniversary of the fifth Prime Minister of India, Choudhary Charan Singh.
  26. National Consumer Day is observed on December 24 in India.
  27. Emma Raducanu (US tennis player) has been named as the BBC Sports Personality of the Year 2021.
  28. Vayana Network, one of India’s largest trade finance platform, and Federal Bank have been awarded the ‘Most Effective Bank-Fintech Partnership: Agile and Adaptable’ award at the IBS Intelligence-Global Fintech Innovation Awards 2021.
  29. National Dope Testing Laboratory (NDTL) has regained the World Anti-Doping Agency (WADA) accreditation.

Table of Content

National News

  1. Union Minister for Road Transport and Highways Nitin Gadkari launched the India’s first Intelligent Transport System on Eastern Peripheral Expressway at Dasna, Ghaziabad.
      • India needs to improve its road engineering as every year, around 1.5 lakh people are killed in 5 lakh accidents across the country.

State News

  1. Central Govt and European Investment Bank (EIB) have signed a Finance Contract for first tranche loan of Euro 250 million for Agra Metro Rail Project.
      • EIB had approved a total loan of Euro 450 million to fund the Agra Metro Rail Project.
      • The project aims to provide safe, reliable, affordable and environment friendly public Mass Rapid Transit System for Agra city.
      • Ministry of Housing and Urban Affairs is administering this Project and Uttar Pradesh Metro Rail Corporation Ltd. (UPMRCL) is the implementing agency.
  2. Punjab has also announced to create a State General Category Commission for unreserved classes.
      • Punjab has the largest population in percentage terms of Dalits in the country. Dalits account for over 30% of the population and an equally large section belongs to the general category.
  3. “Karnataka Protection of Right to Freedom of Religion Bill, 2021”, also known as Anti-Conversion Bill, was passed by the State Assembly of Karnataka.
  4.  

  5. Madhya Pradesh has passed the Prevention of Damage to Public and Private Property and Recovery of Damages Bill 2021.
      • The bill provides for setting up a tribunal which would look into the claims of property damage during riots or public protests.
  6. Maharashtra has passed the Shakti Criminal Laws Bill that recommends capital punishment in rape cases.
      • The Bill, which aims to curb crime against women and children, provides stricter punishment including death penalty in rape cases.
      • The Bill provides for death penalty or life imprisonment for cases of heinous offences of rape, gang-rape and rape and gang-rape on women under 16 years of age.
      • It also provides punishment to men, women and transgenders in cases of insulting the modesty of a woman and intimidating a woman by any mode of communication, and completing the investigation in 30 days.
  7. Haryana government has passed an amendment in the Haryana Excise Act, which will reduce the drinking age from 25 years to 21 years.
  8.  

  9. Banas Dairy Sankul was inaugurated by PM Narendra Modi at the Uttar Pradesh State Industrial Development Authority Food Park, Karkhiyaon.
      • Prime Minister Narendra Modi has inaugurated the foundation stones of 27 development projects worth Rs 2,095 crore.
      • A portal and logo were dedicated to the Conformity Assessment Scheme (CAS) of milk products developed by the Bureau of Indian Standards (BIS) with the help of National Dairy Development Board (NDDB).
  10. India govt and the German Development Bank – KFW have signed agreements for Euro 140 million reduced interest loan and Euro 2 million grant for Energy Reform Programme, Madhya Pradesh.
      • The Project will contribute to a more stable, secure and climate and environmentally friendly energy supply in India by upgrading and strengthening distribution networks in Madhya Pradesh.
      • The project comprises of 2 components namely, implementation of smart meters & Advanced Metering Infrastructure (AMI); and, separation of agriculture & non-agriculture feeders.

Defence News

  1. Indian Army has launched an Army Secure Indi-Geneous Messaging Application (ASIGMA) messaging application for secure in-house communication.
      • It is a new generation, state-of-the-art, web-based application developed entirely in-house by a team of officers of the Corps of Signals of the Army.
  2. Bharat Forge Ltd. has launched one of its kind indigenous Multi-terrain Artillery Gun (MArG) 155 – BR at the hands of Defence Minister of India, Rajnath Singh.
      • Bharat Forge is a Pune based Indian multinational company.
      • CMD of Bharat Forge – Mr. Baba Kalyani

Memorandum of Understanding

  1. Indian Institute of Chartered Accountant (ICAI) has signed an MoU with Polish Chamber of Statutory Auditory for co-operation.
      • Polish Chamber of Statutory Auditory is an audit regulator in Poland.
  2. Competition Commission of India (CCI) and Competition Commission of Mauritius (CCM) have signed an MoU for promotion and strengthening of co-operation in competition law and policy.
      • The MoU aims to promote and strengthen cooperation in matters of competition law and policy through exchange of information, sharing of best practices and capacity building initiatives.

International News

  1. China conducted the Experimental Advanced Superconducting Tokamak (EAST), also known as ‘Artificial Sun’ experiment.
      • In June 2021, the experiment set a new record, where it achieved a plasma temperature of 216 million Fahrenheit (120 million C) for 101 seconds.
  2. South Korea has become the 10th country outside of Europe to join the European Union (EU) law enforcement cooperation agency, Europol, that fights terrorism and other international crime.
      • National Police Agency (NPA) of South Korea joined Europol by signing a working-level agreement that was approved unanimously by the 27 EU nations.
      • Under the agreement, police can now exchange information on crime and cooperate with member states of Europol — 17 European and nine non-European countries — as well as international organisations and research institutes collaborating with the agency.

Reports & Indices

  1. Hurun India has released the Global Unicorn Index 2021.
  2.  
    Global Scenario:

      • Total number of unicorn startups across the world almost doubled to 1,058—from last year’s 586.
      • Total value of all known unicorns in the world doubled to $3.7 trillion.
      • As many as 13 countries officially produced unicorns for the first time, led by Mexico, Holland, Bahamas, Belgium, Chile, Czech Republic, Denmark, Norway, Senegal, Thailand, Turkey, U.A.E. and Vietnam.
      • Top 3 countries with unicorns – USA with 487 unicorns and China with 301 unicorns accounted for 74% of the world’s unicorns. India is at 3rd position with 54 unicorns.
      • Unicorn Capital of the world – San Francisco, followed by Beijing, and New York
      • Top unicorn investors – Sequoia Capital, followed by Tiger Fund, is the most successful unicorn investor for the second year in a row.
      • Top 3 Unicorns – Bytedance (founded by Zhang Yiming), Ant Group (founded by Jack Ma), and SpaceX (founded by Elon Musk)

    India’s Scenario:

      • 33 Indian startups attained unicorn status in 2021.
      • India’s most valuable unicorn – Byju’s ($21 billion), followed by InMobi ($12 billion), and OYO Rooms ($9.5 billion)
      • Besides, Indians outside of India founded as many as 65 such startups that attained the coveted $1-billion valuation mark.

Banking & Economy

  1. Rakesh Jhunjhunwala-backed low-cost airline Akasa Air has unveiled its brand logo ‘inspired by elements of the sky’.
      • The airline is wearing a ‘Rising A’ symbol to represent ‘the spirit of flying, the aim of height and the pursuit of dreams.’
      • The brand’s colours are ‘Sunrise Orange’ and Passionate Purple’, which the brand says reflects Akasa’s ‘warm, youthful, and respectful nature.’
  2. REC Limited has entered into an agreement with KfW Development Bank for availing ODA term loan of USD 169.5 million under Indo-German Bilateral Partnership.
      • The loan will be used for part financing of innovative Solar PV Technology based generation Projects in India at competitive interest rates.
      • This is the fifth credit line signed between REC Limited and KfW for financing of Power Sector Projects and third credit line for financing of Renewable Energy Projects.
  3. Paytm Payments Bank has partnered with MoneyGram — a peer-to-peer remittance company — to enable international fund transfer directly to Paytm Wallet.
  4.  

  5. Ministry of Corporate Affairs has proposed amendments to the Insolvency and Bankruptcy Code (IBC) to strengthen the rescue response towards distressed companies.
      • The Ministry avouched for faster adoption of revival plan for the distressed companies.
      • The suggestions also included provision for quicker admission of cases by tribunals.
      • IBC should have a framework for “a fixed time period for rejection or approval” of a corporate turnaround plan by the tribunal.
  6. RBI had extended the card tokenisation deadline by six months to June 30, 2022 from December 31, 2021.
  7.  

  8. HSBC Asset Management (India) Ltd has acquired L&T Investment Management Ltd for $425 million (around Rs 3,200 crore).

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Appointments

  1. IFFCO-TOKIO General Insurance has appointed HO Suri as the MD & CEO.

Important Days

  1. 5th Siddha Day is celebrated on December 23 in India.
      • Ministry of Ayush observes Siddha Day on eve of Agathiyar’s birthday every year, which falls during the Ayilyam star of Margazhi Month.
      • The day’s celebration was organized by Central Council for Research in Siddha, National Institute of Siddha and Directorate of Indian Medicine & Homeopathy, Government of Tamil Nadu.
  2. National Farmers Day (Kisan Diwas) is observed on December 23 to honour the birth anniversary of the fifth Prime Minister of India, Choudhary Charan Singh.
  3.  

  4. National Consumer Day is observed on December 24 in India.
      • Theme – Tackling Plastic Pollution

Awards

  1. Vayana Network, one of India’s largest trade finance platform, and Federal Bank have been awarded the ‘Most Effective Bank-Fintech Partnership: Agile and Adaptable’ award at the IBS Intelligence-Global Fintech Innovation Awards 2021.
  2.  

  3. Emma Raducanu (US tennis player) has been named as the BBC Sports Personality of the Year 2021.
Emma Raducanu

Miscellaneous

  1. National Dope Testing Laboratory (NDTL) has regained the World Anti-Doping Agency (WADA) accreditation.

    Start Quiz of 24th December 2021

    Q.1) Where is India’s first Intelligent Transport System located?
    Q.2) Which of the following banks is providing the financing support to Agra Metro Rail Project?
    Q.3) Which state has passed Prevention of Damage to Public and Private Property and Recovery of Damages Bill 2021 to claim the property damage during riots or public protests?
    Q.4) For which Indian state has Indian govt signed an agreement worth Euro 140 million for Energy Reform Programme in the state?
    Q.5) Which of the following apps has been launched by the Indian Army for secure in-house communication?
    Q.6) Which company has developed one of its kind indigenous Multi-terrain Artillery Gun (MArG) 155 – BR?
    Q.7) How many unicorn startups are present in India, as per Hurun India’s Global Unicorn Index 2021?
    Q.8) When does India celebrate Siddha Day?
    Q.9) When is National Consumer Day observed in India?
    Q.10) Who has been named as the BBC Sports Personality of the Year 2021?
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