25th-26th December, 2024

1. Celebrating Good Governance Day- Honouring Atal Bihari Vajpayee’s Legacy
2. President Appoints New Governors For Five States
3. DRDO, IIT Delhi and Industry Partners Signed 10 Tripartite Agreements in New Delhi
4. Union MoS Anupriya Patel highlights India’s MedTech Vision at 21st CII Annual Health Summit in New Delhi
5. Union Minister Jitendra Singh launches India’s first anti-pesticide biobody “Kisan Kavach”
6. CII, AICTE sign MoU to boost industry-oriented skill development
7. Indian Railways Launches ‘Saranshka App’ for Enhanced Passenger Safety
8. Union Minister Rammohan Naidu Unveils 100 Years Celebration Logo of NSCBI Airport in Kolkata
9. SEBI Notified New Asset Class “SIF” with Minimum Investment of Rs 10 Lakh
10. YES BANK Launches ‘YES Business’ Powered by IRIS Biz to Empower MSMEs and Businesses
11. SBI Life Insurance launches ‘Smart Platina Supreme’ plan
12. Max Life Insurance Rebrands to Axis Max Life Insurance
13. Noted Hindi Writer Suryabala wins 34th Vyas Samman
14. Christopher Nolan and Emma Thomas Honored with Knighthood and Damehood
15. Thomas Schinecker appointed as President of IFPMA
16. HSL Partners with Kongsberg Maritime for Advanced RAS Equipment for FSS
17. TDB-DST Supports Agnikul Cosmos to Boost India’s Space Ecosystem
18. Pranav Venkatesh wins FIDE World U-18 Youth Rapid & Blitz Chess titles
19. DD Partners with HTL for live broadcast; Launch of Women’s Hockey India League
20. OAG Data: Mumbai-Delhi Becomes World’s Eighth Busiest Domestic Flight Route in 2024
21. World Bank Approves USD 800 million loan for development of Amaravati
22. RBI Approves Canara Bank’s Plan to Sell Stake in Two Subsidiaries
23. Premier Explosives & Global Munition signs MoU to establish JV for Defence and Aerospace
24. Nvidia Partners with Vietnam to Establish AI R&D and Data Centers
25. IWAI’s Kalughat IMT gets recognition for sustainable infrastructure project
26. Maharashtra’s ‘Government at Your Doorstep’ Initiative Wins SKOCH Award
27. REC Ltd. wins Golden Peacock Award 2024 for Excellence in Corporate Governance
28. Preeti Lobana Appointed as Google India’s New Country Manager & VP
29. MDL Delivers two advanced Warships ‘Nilgiri’ and ‘Surat’ to IN
30. Economic historian Amiya Kumar Bagchi passes away

National News

1. DRDO-Industry-Academia Centre of Excellence Event Held at IIT Delhi
   • What:
     • The DRDO-Industry-Academia Centre of Excellence (DIA-CoE) organized an event titled ‘DRDO-Industry-Academia – Global Approach to Readiness of Indigenous Military Applications’ (DIA-GARIMA) at IIT Delhi.
   • Tell me more:
     • During the event, 10 tripartite agreements were signed among DRDO, IIT Delhi, and various industry partners.
     • Key agreements included the transfer of technology for lightweight bullet-resistant jackets and production of extreme weather clothing.
     • The DIA-CoE focuses on directed research for developing advanced defense technologies aligned with the ‘Aatmanirbhar Bharat’ initiative.

2. India’s Medical Device Sector Recognized as Sunrise Sector
   • What:
     • The medical device sector in India has been recognized as a sunrise sector due to its growth potential, as stated by Minister of State for Health Anupriya Patel at the 21st Health Summit of the Confederation of Indian Industry (CII).
   • Tell me more:
     • The Indian medical device sector is estimated to be worth USD 14 billion and is expected to grow to USD 30 billion by 2030.
     • India ranks as the fourth-largest medical device market in Asia, following Japan, China, and South Korea.
     • The MedTech industry is seen as a catalyst for linking patients, payors, providers, and regulators to improve healthcare systems.

Source: ET

State News

1. Kolkata Airport Celebrates 100 Years with New Logo
   • What:
     • Union Minister of Civil Aviation Kinjarapu Rammohan Naidu unveiled the centenary celebrations logo of Netaji Subhash Chandra Bose International Airport (NSCBI Airport) in Kolkata.
   • Why:
     • The logo marks 100 years of service by the airport, symbolizing its evolution into a significant aviation hub.
   • Tell me more:
     • A new budget-friendly cafe named “UDAN Yatri Cafe” will be launched at the airport to enhance passenger experience.
     • Kolkata Airport was established in 1924 and was originally known as Dum Dum Airport.
     • It has hosted significant milestones in Indian aviation, including India’s first jet service hub.

2. World Bank Approves $800 Million for Amaravati Development
   • What:
     • The World Bank’s Board of Executive Directors has approved an $800 million loan for the Amaravati Integrated Urban Development Programme in Andhra Pradesh.
   • Why:
     • This initiative aims to develop Amaravati as a climate-resilient urban center that enhances economic growth and living standards.
   • Tell me more:
     • Amaravati currently has around 100,000 residents, with plans to accommodate up to 3.5 million by 2050.
     • The project will establish a transparent city management framework and involve community consultations for inclusive growth.
     • It is expected to attract over $600 million in private sector investments.
     • The loan is denominated in Japanese Yen and has a maturity period of 29 years with a six-year grace period.
       Source: NIE

Banking and Economy

1. YES BANK Launches YES Business for MSMEs
   • What:
     • YES BANK has launched YES Business, a new initiative designed to provide banking and related services for Micro, Small, and Medium Enterprises (MSMEs) under one platform.
   • Tell me more:
     • Central to this launch is the IRIS Biz app, which provides a digital interface with various solutions to streamline business operations.
     • The app includes features such as fully digital current account setup with Video KYC, in-app support for accounting, taxation, payroll, and global trade finance.
     • Additional offerings include Merchant EASY and Merchant PRIME for efficient transaction management.

2. SBI Life Launches Smart Platina Supreme Insurance Plan
   • What:
     • SBI Life has launched the Smart Platina Supreme, a non-linked, non-participating life insurance savings plan designed for individuals.
   • Tell me more:
     • The Smart Platina Supreme offers customizable premium payment terms, policy durations, and pay-out frequencies.
     • Key features include life cover, enhanced benefits with higher guaranteed income for higher premiums, and a return of 110% of total premiums paid at the end of the pay-out period.
     • It provides options for maturity benefits, death benefits, and loans against the policy.

Source: ANI

3. RBI Approves Canara Bank’s IPO for Stake Sale
   • What:
     • The Reserve Bank of India (RBI) has approved Canara Bank’s plan to sell stakes in its mutual fund and insurance subsidiaries through an Initial Public Offering (IPO).
   • Why:
     • The approval aims to enhance the bank’s capital and facilitate its growth strategy by bringing in public investment.
   • Tell me more:
     • Canara Bank will divest 13% of its stake in Canara Robeco Asset Management Company Ltd and 14.5% in Canara HSBC Life Insurance Company Ltd.
     • Canara Robeco AMC was established in 1993 and was previously known as Canbank Mutual Fund before its rebranding in 2007.
     • Currently, Canara Bank holds a 51% stake in Canara HSBC Life Insurance, with HSBC owning 26% and Punjab National Bank (PNB) holding the remaining 23%.
     • PNB has also announced plans to sell a 10% stake in the life insurance company during its listing.
     • The government has set a deadline of October 31, 2029, for the bank to reduce its stake in these entities to 30%.
       Source: BS
4. Nvidia Partners with Vietnam for AI Development
   • What:
     • Nvidia and the Vietnamese government have signed an agreement to establish an AI research and development center and an AI data center in Vietnam.
   • Why:
     • The partnership aims to enhance Vietnam’s capabilities in artificial intelligence and support the country’s digital infrastructure development.
   • Tell me more:
     • It is part of Nvidia’s strategy to expand its presence in Southeast Asia and collaborate with local tech firms.
     • The agreement was signed in Hanoi, attended by Nvidia CEO Jensen Huang and Vietnamese Prime Minister Pham Minh Chinh.
     • Nvidia has acquired VinBrain, a healthcare startup that is part of the Vingroup conglomerate, although the deal’s value was not disclosed.
     • In April 2024, Vietnamese tech firm FPT announced plans to build a $200 million AI factory using Nvidia’s technology.
       Source: BS

Reports and Indices

1. Mumbai-Delhi Route Ranks Eighth in Global Traffic
   • What:
     • The Mumbai-Delhi route is the eighth busiest domestic route in the world for 2024.
   • Tell me more:
     • The busiest domestic route globally is Seoul-Jeju, with 14.183 million seats.
     • The second largest route is from Hokkaido’s Chitose Airport to Tokyo’s Haneda airport, with 11.9 million seats.
     • The Jeddah to Riyadh route saw the most growth in the Top 10, with a capacity increase of 10% in 2024.
     • The data comes from aviation analytics firm OAG, which tracks airline capacity and traffic.
     • Eight of the top ten busiest domestic routes are located in Asia.

Source: BS

Defence News

1. Government Supports Agnikul Cosmos for Space Innovation
   • What:
     • The Ministry of Science & Technology has announced support for M/s Agnikul Cosmos Pvt. Ltd., Chennai.
   • Why:
     • This support aims to boost innovation in the space sector by opening it to private players.
   • Tell me more:
     • The project is backed by the Technology Development Board (TDB), which has sanctioned financial assistance for its development.
     • The initiative focuses on developing and commercializing “Agnibaan,” a customizable two-stage launch vehicle.
     • Agnibaan is capable of delivering payloads of up to 300 kg to orbits at 700 km altitude.

2. Hindustan Shipyard Partners with Kongsberg Maritime
   • What:
     • Hindustan Shipyard Limited (HSL) has partnered with Norway’s Kongsberg Maritime to enhance the Indian Navy’s operational capacity through advanced Replenishment-at-Sea (RAS) technology.
   • Why:
     • This collaboration aims to support the development of the Indian Navy’s Fleet Support Ships (FSS) programme, which is designed to improve logistical support and extend operational range.
   • Tell me more:
     • The FSS will provide logistical support such as fuel, water, ammunition, and supplies to Navy warships during extended missions at sea.
     • These ships will have a displacement of over 40,000 tons and will also assist in humanitarian aid and disaster relief operations.
     • Kongsberg Maritime will supply its electric RAS technology to improve efficiency and safety during logistical operations.
     • Five Fleet Support Ships were approved in August 2023 at an estimated cost of Rs 19,000 crore, with deliveries starting in mid-2027.
       Source: FE
3. Premier Explosives Forms Joint Venture for Defence Products
   • What:
     • Premier Explosives shares rose by 10% after the company signed a Memorandum of Understanding (MoU) with Global Munition to create a joint venture.
   • Why:
     • The joint venture will focus on manufacturing defence and aerospace products, with Global Munition holding a 51% stake.
   • Tell me more:
     • Premier Explosives is India’s first private-sector explosives manufacturer.
     • The company produces various types of explosives, including emulsion and slurry explosives.
     • The joint venture with Global Munition is expected to enhance collaboration in the defence manufacturing sector.
       Source: ET
4. Indian Navy to Commission New Warships and Submarine
   • What:
     • The Indian Navy is set to commission two indigenous frontline warships and a diesel-electric submarine next month.
   • Tell me more:
     • The new warships include the guided-missile destroyer Surat and the stealth frigate Nilgiri, along with the submarine Vagsheer.
     • Surat has a displacement of 7,400 tonnes, while Nilgiri weighs 6,670 tonnes. Vagsheer is a 1,600-tonne submarine.
     • Surat is India’s first AI-enabled warship and features advanced sensors and weapons systems.
     • The destroyers are armed with BrahMos supersonic cruise missiles and Barak-8 surface-to-air missiles.

Source: TOI

Awards

1. Christopher Nolan and Emma Thomas Honored by King Charles III
   • What:
     • Filmmaker Christopher Nolan and his wife Emma Thomas were awarded Knighthood and Damehood, respectively, by King Charles III for their contributions to the film industry.
   • Tell me more:
     • The ceremony took place at Buckingham Palace, where the royal family congratulated all honorees.
     • Notable films by Nolan and Thomas include “The Dark Knight” trilogy and “Oppenheimer.”
     • A knighthood is a title for men, while a damehood is for women, allowing the recipients to use the titles Sir or Dame.

2. Kalughat Terminal Receives Five-Star SVAGRIHA Rating
   • What:
     • The Inland Waterways Authority of India’s Intermodal Terminal (IMT) at Kalughat, Bihar, has been awarded a five-star SVAGRIHA rating by the GRIHA council.
   • Why:
     • The rating recognizes the environmentally sustainable practices adopted during the terminal’s construction.
   • Tell me more:
     • The IMT Kalughat was built at a cost of Rs 82.48 crore and has a capacity of handling 77,000 TEU per annum.
     • This terminal is part of the Jal Marg Vikas Project (JMVP) aimed at enhancing National Waterway 1 on the River Ganga.

3. Maharashtra’s ‘Shashan Aaplya Dari’ Wins SKOCH Award
   • What:
     • The Maharashtra government’s initiative ‘Shashan Aaplya Dari’ has received the SKOCH Award.
   • Why:
     • This program aims to bring government schemes directly to the people and was launched in Satara in May of the previous year.
   • Tell me more:
     • It aligns with the Sustainable Development Goals set by the United Nations.
     • Over 280 initiatives from across India participated in the competition for the SKOCH Award.
     • The program was implemented under a special cell led by the private secretary of then Chief Minister Eknath Shinde.
     • A new version, ‘Shashan Aaplya Dari 2.0’, is planned to be launched under the new government.
     • The SKOCH Award recognizes excellence in governance and social development.
       Source: TP
4. REC Ltd Wins Golden Peacock Award for Governance
   • What:
     • REC Ltd has been awarded the Golden Peacock Award 2024 for Excellence in Corporate Governance.
   • Tell me more:
     • The award was presented at a ceremony in London, recognizing REC’s commitment to high standards of governance.
     • REC won the award in the Power (Financial Services) category.
     • The jury for the awards included notable figures such as Justice MN Venkatachaliah and Justice UU Lalit.

Source: ET

Important Days

1. India Celebrates Good Governance Day on December 25
   • What:
     • India commemorates Good Governance Day, also known as Sushasan Diwas, every year on December 25 to honor the birth anniversary of former Prime Minister Atal Bihari Vajpayee.
   • Tell me more:
     • This year marks Vajpayee’s 100th birth anniversary.
     • Atal Bihari Vajpayee was born on December 25, 1924, in Gwalior, Madhya Pradesh, and served as Prime Minister three times.
     • Vajpayee initiated several key programs during his tenure, including the Kisan Credit Card and Pradhan Mantri Gram Sadak Yojana.
     • He was awarded the Bharat Ratna in 2015, India’s highest civilian honor.
       Source: ET

Sports

1. Grandmaster Pranav Venkatesh Wins Double Gold in Chess
   • Grandmaster Pranav Venkatesh won two gold medals at the FIDE World Youth Under-18 Open Rapid and Blitz Championships in Slovenia.
   • He became India’s 75th Grandmaster two years ago.
   • He recently won the Challenger section of the Chennai Grand Masters tournament, allowing him to compete in next year’s Masters section.
     Source: TOI

2. Doordarshan Partners with Hockey India League
   • What:
     • Doordarshan has partnered with the Hockey India League (HIL) to promote hockey across India.
   • Tell me more:
     • The HIL will start on December 28, 2024, featuring both men’s and women’s leagues for the first time.
     • The league will consist of 8 men’s teams and 4 women’s teams competing in Rourkela and Ranchi.
     • The partnership extends to all National Championships organized by Hockey India.

Source: PIB

Memorandum of Understanding

1. CII and AICTE MOU for Skill Development
   • What:
     • The Confederation of Indian Industry (CII) and the All India Council for Technical Education (AICTE) signed a Memorandum of Understanding (MoU) to enhance skill development during the 11th CII Global Summit on Skill Development 2024 in New Delhi.
   • Tell me more:
     • The MoU was exchanged in the presence of key dignitaries, including Atul Kumar Tiwari from the Ministry of Skill Development and Entrepreneurship and Prof TG Sitharam, Chairman of AICTE.
     • Prof TG Sitharam emphasized that skill development is crucial for India’s growth and aims to empower individuals with digital and future technologies.
     • AICTE initiatives include the Working Professionals Programme for continuous upskilling and the Bharati Programme promoting gender inclusivity.

Source: ANI

Appointments

1. President Droupadi Murmu Reshuffles Governors in India
   • What:
     • President Droupadi Murmu appointed two new governors and reassigned three others in a significant reshuffle affecting five states.
   • Tell me more:

Source: IE

2. Dr. Thomas Schinecker to Lead IFPMA as President
   • What:
     • Dr. Thomas Schinecker, CEO of Roche Group, will become the President of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) starting January 1, 2025.
   • Tell me more:
     • Dr. Schinecker has served as IFPMA Vice-President for the past two years.
     • Rob Davis, CEO of MSD, will join as a new Vice-President, while Dr. Sunao Manabe will continue as Vice-President.
     • The new leadership team takes over as Dr. Albert Bourla, CEO of Pfizer, completes his term as President.

Source: IFPMA

Miscellaneous

1. Renowned Economist Professor Amiya Kumar Bagchi Passes Away
   • Professor Amiya Kumar Bagchi, a prominent economist and public intellectual, passed away.
   • Bagchi studied at Presidency College, Kolkata, and later completed his doctoral work at Cambridge University.
     Source: TH

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