06th December, 2024

1. 18th NCB International Conference & Exhibition on Cement, Concrete and Building Materials Held in Delhi
2. Number of Gig and Platform Workers in India Expected to Increase to 23.5 Million by 2029-30: Government
3. Delhi CM Inaugurates India’s First Underground Shooting Range for NCC Cadets in New Delhi
4. Russia hands over BRICS chairmanship to Brazil at Sherpa meeting in Ekaterinburg
5. NPCI approves Phi Commerce’s UPI Switch
6. Navi Overtakes Cred to become 4th largest UPI app
7. Vijay Chandok Joins NSDL as MD & CEO
8. Tata Electronics to acquire stake in Pegatron’s iPhone plant in TN
9. Renowned endocrine surgeon and Padma Shri Awardee Sivapatham Vittal passes away at 83
10. 60th Raising Day of the Border Security Force- December 01 2024
11. Scottish Sikh Artist Wins 2024 Turner Prize
12. Google to Launch Safety Engineering Centre in Hyderabad
13. All India Civil Defence and Home Guards Day: A Tribute to Voluntary Service
14. Nepal and China Sign Framework for BRI Cooperation

National News

1. 18th NCB International Conference on Cement Inaugurated
   • What:
     • The 18th NCB International Conference & Exhibition on Cement, Concrete, and Building Materials was inaugurated at Yashobhoomi Convention Centre, Dwarka, New Delhi.
   • Why:
     • The conference aims to highlight advancements in the cement industry and discuss challenges and innovations in the sector.
   • Tell me more:
     • Shri Amardeep Singh Bhatia, Secretary of DPIIT, inaugurated the conference and the concurrent Technical Exhibition.
     • He conferred the NCB Lifetime Achievement Award to Padmashri Dr. HC Visvesvaraya for his contributions to the sector.

Source: pib

State News

1. Delhi Inaugurates First Underground Shooting Range for NCC
   • What:
     • Chief Minister Atishi inaugurated India’s first underground shooting range for NCC cadets at Rohini’s NCC Bhavan.
     • The shooting range features a 25-metre firing area with bulletproof ceilings and six firing lanes.
   • Why:
     • The initiative aims to provide talented athletes with access to modern training facilities, regardless of financial constraints.
   • Tell me more:
     • The shooting range is equipped with an advanced electronic target control system and is open 24/7 for uninterrupted training.
     • Atishi mentioned the government’s plans to develop another world-class shooting range at a government school in Kalkaji.
       Source: TOI

International News

1. BRICS Chairmanship Transferred from Russia to Brazil
   • What:
     • The final meeting of BRICS Sherpas and Sous-Sherpas took place in Ekaterinburg, Russia.
     • This meeting marked the official handover of the BRICS chairmanship from Russia to Brazil.
   • Tell me more:
     • The XVI BRICS Summit held in Kazan was a key event during Russia’s presidency, resulting in the Kazan Declaration and the inclusion of new partner countries.

2. Nepal Signs Agreement with China for Belt and Road Initiative
   • What:
     • Nepal has signed a framework agreement with China to advance the Belt and Road Initiative (BRI).
     • This agreement was announced by Nepal’s foreign ministry during Prime Minister KP Sharma Oli’s visit to Beijing.
   • Why:
     • The agreement aims to implement infrastructure projects under China’s BRI, enhancing connectivity and development in Nepal.
   • Tell me more:
     • It signifies a shift in Nepal’s diplomatic focus towards China, moving away from its traditional ties with India.
     • The framework was signed after a seven-year gap since the initial pact in 2017.
     • Previous Chinese investments in Nepal include the Pokhara International Airport, funded with a $216 million loan under the BRI framework.
       Source: TOI

Banking and Economy

1. Growth of Gig Workers in India: NITI Aayog
   • What:
     • NITI Aayog released a report titled “India’s Booming Gig and Platform Economy” in June 2022.
     • The report estimates that the number of gig and platform workers in India was 7.7 million in 2020-21.
     • This number is projected to increase to 23.5 million by 2029-30.
   • Tell me more:
     • The Code on Social Security, 2020, defines ‘gig workers’ and ‘platform workers’ for the first time.
     • This code includes provisions for social security measures such as life and disability cover, accident insurance, health benefits, maternity benefits, and old age protection.

2. NPCI Certifies Phi Commerce for UPI Switch
   • What:
     • The National Payment Corporation of India (NPCI) has certified Phi Commerce for its UPI Switch.
     • This certification allows Phi Commerce to onboard enterprise clients quickly, improving transaction capabilities.
   • Tell me more:
     • UPI Switch will enable Phi Commerce to provide a variety of payment options almost instantly.
     • Rajesh Londhe, Co-founder of Phi Commerce, stated that UPI Switch will support NPCI’s goal of achieving one billion transactions per day in the next few years.
     • The system helps distribute transaction traffic across multiple servers, reducing processing times during peak payment periods.

3. New Fintech Players Rise in UPI Ecosystem
   • What:
     • New fintech companies like Navi and Super.money are rapidly growing in the Unified Payments Interface (UPI) ecosystem.
     • Navi has become the fourth largest player in UPI, processing 157.51 million transactions in October, surpassing Cred.
   • Why:
     • They are focusing on acquiring customers through cashbacks and rewards to enhance their market presence.
   • Tell me more:
     • Super.money, launched in July, processed 49.68 million transactions in October, doubling its transactions from September.
     • PhonePe leads the UPI market with a 47.67% share, followed by Google Pay at 37.39% and Paytm at 7.02%.
       Source: BS
4. Tata Electronics Acquires Stake in Pegatron’s Plant
   • What:
     • Tata Electronics is signing a deal to acquire a majority stake in Taiwanese contract manufacturer Pegatron’s plant in Tamil Nadu.
     • The deal will give Tata Electronics a 60% stake in the joint venture for iPhone production.
   • Why:
     • This acquisition aims to increase Tata Electronics’ capacity to assemble iPhones and meet the rising demand for Apple products in India.
   • Tell me more:
     • Tata Electronics may invest between $150-200 million for the stake in Pegatron.
     • With the combined capacities of Pegatron and Wistron facilities, Tata Electronics could match the production levels of Foxconn, the largest iPhone manufacturer in India.
     • Pegatron currently employs around 9,500 people in India and produces approximately 4.5 million iPhones annually.

5. Google Establishes Safety Engineering Centre in Hyderabad
   • What:
     • Google has signed an agreement with the Telangana government to set up its Safety Engineering Centre (GSEC) in Hyderabad.
     • This will be Google’s second GSEC in the Asia Pacific region, following Tokyo.
   • Why:
     • The GSEC aims to enhance cybersecurity capabilities and develop advanced security products tailored for India.
     • It focuses on research and AI-driven security solutions while fostering skill development and boosting employment in the region.
   • Tell me more:
     • The GSEC will create a collaborative platform for experts and researchers in cybersecurity.
     • Future collaborations may include establishing a Cloud Centre of Excellence, an Intelligent Traffic Management System, and partnerships in education and startup ecosystems.
     • Google has its largest employee base in Hyderabad and is building its largest office outside of its headquarters in the city.
       Source: NIE

Awards

1. Jasleen Kaur Wins Turner Prize 2024
   • What:
     • Jasleen Kaur, an artist of Indian heritage, won the Turner Prize 2024.
     • She received the award for her exhibition titled ‘Alter Altar’ at Tate Britain in London.
   • Tell me more:
     • Kaur was awarded GBP 25,000 (approximately ₹26.84 lakh) for her work.
     • Her exhibition included sculptures made from gathered objects, animated by immersive sound and music.
     • The Turner Prize jury praised her for creating a visual and aural experience that conveys solidarity and joy.
     • Kaur’s exhibition will be on display at Tate Britain until mid-February 2025.

Source: HT

Important Days

1. 60th Raising Day of the Border Security Force Celebrated
   • What:
     • The 60th Raising Day of the Border Security Force (BSF) was celebrated at the BSF Meghalaya Frontier Headquarters.
     • A grand ‘Barakhana’ event was organized, bringing together BSF personnel, their families, and retirees.
   • Tell me more:
     • The ‘Barakhana’ is a traditional meal shared among force members, promoting unity and pride in the BSF’s legacy.
     • The event commemorates the establishment of the BSF on December 1, 1965.
       Source: TOI
2. Civil Defence Day Celebrated on December 6
   • What:
     • Civil Defence Day is celebrated on December 6 each year to raise awareness about the importance of civil defence.
     • Union Home Minister Amit Shah inaugurated the 14th All India Civil Defence and Home Guards conference in Gandhinagar in October.
   • Why:
     • The conference aims to discuss important policies and draft legislation related to civil defence and home guards.
   • Tell me more:
     • This conference is being held after a gap of 19 years and will see participation from over 60 senior officials and nearly 1,200 members of civil defence and home guards from various states.
     • Discussions will focus on the draft Civil Defence Bill, Model Home Guard Bill, and the use of modern technology to improve efficiency in these forces.
     • Currently, there are more than 4.5 lakh home guards and 6 lakh civil defence guards in India.
       Source: NOA GOV

Appointments

1. Vijay Chandok Appointed as CEO of NSDL
   • What:
     • Vijay Chandok has been appointed as the Managing Director and Chief Executive Officer of the National Securities Depository Ltd (NSDL).
     • He previously served as the MD and CEO of ICICI Securities.
   • Tell me more:
     • NSDL is a Sebi-registered market infrastructure institution that pioneered the dematerialization of securities in India in November 1996.
     • As of September 2024, NSDL became the first securities depository in India to reach Rs 500 lakh crore (USD 6 trillion) in assets held in custody.
     • NSDL has received approval from Sebi to launch its initial public offering (IPO), which will be a complete offer-for-sale of more than 5.72 crore equity shares by shareholders.
       Source: BS

Miscellaneous

1. Dr. Sivapatham Vittal, Pioneer of Endocrine Surgery, Passes Away
   • Dr. Sivapatham Vittal, known as the father of endocrine surgery in India, passed away at the age of 83.
   • Dr. Vittal was awarded the Dr. B. C. Roy award and the Padma Shri, India’s third highest civilian award.
     Source: TH

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