01st-02nd January, 2025

1. MoD Signs Rs 2,867 Crore Contracts with MDL & Naval Group to bolster submarine capabilities
2. TN CM Muthuvel Karunanidhi Stalin unveils India’s 1st glass bridge at Kanniyakumari
3. NeGD Signs MoU with IPA to Boost Digital Transformation in India’s Maritime Sector
4. DPIIT Signs MoU with BoAt to Support Startups in Manufacturing and D2C Sectors
5. 18th Edition of India-Nepal Military Exercise ‘Surya Kiran’ commences in Nepal
6. YES Bank & FICCI FLO Launched ‘YES PowerUp’ to Promote Women Entrepreneurs
7. RBI penalizes Rs 5.50 lakh on 4 cooperative banks from Karnataka for Regulatory Non-Compliance
8. ICICI Prudential Life Insurance, RGA Launched ‘ICICI Pru Wish’ Insurance Product for Women
9. Swiggy Partners with NSE to Empower Delivery Partners with Financial Literacy
10. Rajat Verma Appointed as CEO of DBS Bank India
11. Cherukuri Srinivasa Rao Appointed as Director of IARI
12. RBL Bank Sells Entire Stake in DAM Capital Advisors
13. ISRO launches PSLV-C60 SpaDeX Mission with two spacecraft SDXO1 & SDXO2
14. China Unveils World’s Fastest High-Speed Train ‘CR450’
15. Haryana Steelers won the first-ever ‘PKL Title’ with 32-23 Over Patna Pirates
16. Denmark’s Anders Antonsen wins the Malaysian King Cup International Badminton Open 2024
17. World Boxing forms new Asian body: India Takes Centre Stage with Ajay Singh as Board Member
18. Former Time Warner’s CEO Richard Parsons passed away
19. Baisakhi, Ugadi, and Puthandu: Regional New Year Festivities Across India
20. Justice V Ramasubramanian Appointed NHRC Chairperson
21. GDP to Grow at 6.6% in FY25: RBI
22. SAIL Earns Great Place to Work Recognition for Second Year
23. China Unveils World’s Fastest High-Speed Train Prototype
24. Southgate, Fry, and Athletes Recognized in 2024 New Year Honours
25. 116th Mann Ki Baat- Welcoming a Milestone Year
26. Vitul Kumar Appointed Officiating DG of CRPF
27. Hemanth Muddappa Secures 3 National Titles, Extends Record to 15
28. Kerala Wins Senior National Men’s Handball Championship
29. Haryana Steelers Clinch Maiden PKL Title
30. India’s Defence Exports Cross Rs 21,000 Crore : Rajnath Singh
31. Rajat Verma Appointed CEO of DBS Bank India
32. India To Host First Waves Summit in February 2025

National News

1. India to Host World Audio Visual Entertainment Summit
   • What:
     • India will host the World Audio Visual Entertainment Summit (WAVES) for the first time from February 5-9, 2025.
   • Why:
     • The summit aims to be a global platform for creative talents, fostering collaborations and showcasing India’s potential in content creation.
   • Tell me more:
     • Prime Minister Narendra Modi highlighted the significance of WAVES in his 116th ‘Mann ki Baat’ radio address, comparing it to global events like the World Economic Forum.
     • He paid tribute to legendary figures like Raj Kapoor and Mohammed Rafi on their 100th birth anniversaries for their contributions to Indian cinema.
     • The summit reflects India’s ambitions to become a hub for world-class content creation as it moves towards a five trillion dollar economy.
       Source: BS

State News

1. Tamil Nadu Unveils India’s First Glass Bridge
   • What:
     • Tamil Nadu Chief Minister MK Stalin inaugurated India’s first glass bridge in Kanniyakumari.
     • The bridge connects the Vivekananda Rock Memorial and the Thiruvalluvar statue.
   • Tell me more:
     • It is part of a Rs 37-crore project to promote the region as a premier tourist destination.
     • The glass bridge measures 77 meters in length and 10 meters in width.
     • It features a bowstring-arch design and a transparent surface for stunning views of the sea.
     • The bridge improves accessibility by allowing visitors to walk between the two landmarks, reducing reliance on ferry services.
       Source: IN
2. Traditional New Year

International News

1. China Unveils Record-Breaking High-Speed Bullet Train
   • What:
     • China has unveiled a new high-speed bullet train prototype, the CR450, which achieved a record speed of 450 kilometers per hour during test runs.
   • Why:
     • The introduction of the CR450 aims to revolutionize domestic travel in China by reducing journey times and enhancing connectivity between major cities.
   • Tell me more:
     • This train is developed by China State Railway Group Co and surpasses the previous model, the CR400 Fuxing, which operates at a maximum speed of 350 km/h.
     • The CR450 prototype met key performance metrics, including operational speed, energy efficiency, and braking distance.
     • China’s high-speed rail network currently spans over 46,000 kilometers.
     • The CR450 models include two variants: CR450AF and CR450BF, featuring advanced safety systems and real-time monitoring capabilities.
       Source: HT

Banking and Economy

1. YES BANK Launches YES PowherUp for Women Entrepreneurs
   • What:
     • YES BANK, in collaboration with FICCI FLO, launched YES PowherUp, a specialized MSME program for women entrepreneurs.
   • Why:
     • The initiative aims to empower women entrepreneurs by addressing the unique challenges they face in scaling their businesses.
   • Tell me more:
     • YES PowherUp includes specialized SME loans, premium business accounts, international trade services, investment opportunities, credit card options, and insurance plans.
     • The program features a 50% processing fee waiver for FICCI FLO members on SME loans.
     • It also offers business credit cards with low foreign currency markups and zero brokerage for certain investment trades.

2. ICICI Prudential Launches Women-Specific Health Insurance
   • What:
     • ICICI Prudential Life Insurance has launched a health product called ICICI Pru Wish, aimed at women-specific critical illnesses and surgeries.
   • Why:
     • The initiative aims to empower women by providing financial support during medical emergencies.
   • Tell me more:
     • The product offers an instant payout of up to 100% of the health cover amount upon diagnosis of certain critical illnesses.
     • ICICI Pru Wish provides a fixed lump sum payment on diagnosis, unlike standard plans that require reimbursements.
     • The product includes a premium guarantee for 30 years and a premium sabbatical option for 12 months.
     • It also covers maternity-related complications and congenital illnesses in newborns.
     • The product was developed in collaboration with Reinsurance Group of America Inc.

3. Swiggy Partners with NSE for Financial Literacy Program
   • What:
     • Swiggy has signed a Memorandum of Understanding (MoU) with the National Stock Exchange of India Limited (NSE) to launch a financial literacy program for delivery partners.
   • Why:
     • The initiative aims to enhance financial inclusion and stability among gig workers, particularly women.
   • Tell me more:
     • The program focuses on empowering female delivery partners and aims to have 1 lakh women delivery partners by 2030.
     • The program is integrated into Swiggy’s initiatives, “She the Change” and “Swiggy Skills.”
     • It will provide training on budgeting, investments, debt management, and capital markets through interactive sessions led by SEBI-certified trainers.
     • The training modules will be accessible via an app and localized into regional languages.
     • Ten women delivery executives were recognized for their performance, each receiving a cheque of INR 11,000 as initial investment support.
       Source: ET
4. RBL Bank Sells Stake in DAM Capital Advisors
   • What:
     • RBL Bank has sold its entire 8.16% stake in DAM Capital Advisors Limited through an offer for sale (OFS).
   • Tell me more:
     • Prior to the IPO, RBL Bank had already divested a 1.5% stake through a secondary market transaction.
     • DAM Capital Advisors is set to debut on the stock market on December 27, following a successful IPO that raised Rs 840.25 crore.

5. SAIL Recognized as a Great Workplace Again
   • What:
     • Steel Authority of India Limited (SAIL) has been certified as a ‘Great Place to Work’ for the period of January 2025 to January 2026.
   • Why:
     • This recognition highlights SAIL’s commitment to creating a progressive work environment through innovative human resources initiatives.
   • Tell me more:
     • Key programs include flexible work policies, advanced IT training with NASSCOM, leadership development with IIMs, enhanced healthcare services with Deloitte, and e-learning platforms.
     • This is the second consecutive year SAIL has received this certification, indicating its strong employee-friendly practices.

Source: DP

Defence News

1. India Signs Contracts to Boost Naval Defence
   • What:
     • The Ministry of Defence signed two contracts worth Rs 2,867 crore with Mazagon Dock Shipbuilders Limited and Naval Group, France.
   • Why:
     • These contracts aim to enhance the capabilities of the Indian Navy’s submarines, particularly the Kalvari-Class.
   • Tell me more:
     • They focus on incorporating advanced technologies like Air Independent Propulsion (AIP) and Electronic Heavy Weight Torpedo (EHWT) systems.
     • The first contract, valued at Rs 1,990 crore, is for constructing an AIP Plug and integrating it with the DRDO-developed AIP system for Indian submarines.
     • The second contract, worth Rs 877 crore, involves integrating the EHWT onto the Kalvari-Class submarines.

2. India and Nepal Conduct Joint Military Exercise Surya Kiran
   • The 18th edition of Exercise Surya Kiran, a joint military exercise between India and Nepal, began at the Nepal Army Battle School in Saljhandi, Western Nepal, and will continue until January 13, 2025.
   • The Indian Army contingent consists of 334 personnel from the 11th Gorkha Rifles.
     Source: BS

3. Defence Minister Announces Record Defence Exports
   • Defence Minister Rajnath Singh announced that India’s defence exports have reached a record of Rs 21,000 crore, up from Rs 2,000 crore a decade ago.
   • The aim is to enhance India’s defence capabilities and set a target of achieving Rs 50,000 crore in defence exports by 2029.
     Source: MOC

Awards

1. New Year Honours Recognize Sports and Arts Achievements
   • What:
     • Former England football manager Gareth Southgate and actor Stephen Fry have been knighted in the New Year Honours list.
   • Why:
     • The honours celebrate individuals for their significant contributions to sports, mental health awareness, and the arts.
   • Tell me more:
     • Southgate is recognized for leading the England football team to two consecutive Euros finals.
     • Fry is honored for his advocacy in mental health and environmental issues.
     • Other notable recipients include Olympic champion Keely Hodgkinson (MBE), musicians, gardeners, and actresses like Carey Mulligan and Sarah Lancashire.
       Source: BBC

Sports

1. Haryana Steelers Win First Pro Kabaddi League Title
   • Haryana Steelers won their first Pro Kabaddi League (PKL) title by defeating Patna Pirates 32-23 in the Season 11 final at the Shree Shiv Chhatrapati Sports Complex in Pune.
     Source: IE

2. Malaysian King Cup International Badminton Open 2024
   • Denmark’s Anders Antonsen won the Malaysian King Cup International Badminton Open 2024 against China’s Hu Zhe’an.
     Source: BWT
3. India to Lead Development of Asian Boxing
   • What:
     • World Boxing has added Asia as its newest member, with India playing a key role in the development of Asian boxing.
   • Tell me more:
     • The Boxing Federation of India (BFI) will hold seven key positions in the interim organizational structure, including Ajay Singh as a board member.
     • Lovlina Borgohain, a Tokyo Olympic medalist, will be part of the newly formed Athlete Commission.
     • The BFI has recently secured hosting rights for the World Boxing Cup Final 2025 and the World Boxing Congress 2025.
       Source: ANI
4. Hemanth Muddappa Crowned Triple Champion in Drag Racing
   • What:
     • Indian rider Hemanth Muddappa has been crowned a triple champion at the MMSC FMSCI Indian National Motorcycle Drag Racing Championship 2024.
   • Why:
     • This achievement marks Muddappa’s 15th National title, showcasing his dominance and skill in drag racing.
   • Tell me more:
     • Muddappa secured his 13th title in the 4-stroke 1051 to 1650cc Super Sport class before even competing, due to an unbeatable lead of 29 points.
     • Muddappa is nicknamed ‘LightningR1’ for his speed on the track.
     • He expressed pride in being the first athlete in Indian motorsports to achieve 15 National titles, comparing his achievement to being the “Neil Armstrong of Indian motorsports.”
       Source: ANI
5. Kerala Wins First National Men’s Handball Championship
   • What:
     • Kerala has defeated Chandigarh to win their first Senior National Men’s Handball Championship title.
   • Why:
     • This victory marks a significant achievement for Kerala, as it is their first time reaching the finals and winning the championship.
   • Tell me more:
     • Kerala’s player Devendar was named the ‘Best Player of the Championship’, while Rahul received the award for ‘Best Goalkeeper’.
     • The tournament concluded at the Madras International Circuit.
       Source: PTI

Memorandum of Understanding

1. NeGD and IPA Sign MoU for Maritime Digital Transformation
   • What:
     • The National e-Governance Division (NeGD) and the Indian Ports Association (IPA) signed a Memorandum of Understanding (MoU) in New Delhi on December 24, 2024.
   • Why:
     • The partnership seeks to integrate NeGD’s technological expertise with IPA’s knowledge of the maritime and logistics industries.
   • Tell me more:
     • The MoU focuses on advanced software development, system integration, and capacity building.
     • It addresses challenges like fragmented logistics systems and outdated operational practices in the port and shipping sectors.
     • The collaboration envisions interconnected ports across India, utilizing real-time data to optimize operations.
     • The MoU was signed by Shri Nand Kumarum, IAS, President and CEO of NeGD, and Shri Vikas Narwal, IAS, Managing Director of IPA.
       Source: PIB

Appointments

1. Rajat Verma Appointed CEO of DBS Bank India
   • What:
     • Rajat Verma has been appointed as the CEO of DBS Bank India, effective March 1, 2025.
   • Tell me more:
     • Verma currently heads the Institutional Banking Group (IBG) at DBS Bank India and has been with the bank for 18 months.
     • DBS Bank has been present in India for over 30 years and is a significant player in institutional banking, wealth management, and retail segments.

2. Ch Srinivasa Rao Appointed as Director of IARI
   • What:
     • Ch Srinivasa Rao has been appointed as the director of the Indian Agricultural Research Institution (IARI).
   • Tell me more:
     • He is currently the director of the National Academy of Agricultural Research Management (NAARM).
     • He is the first Telugu person to hold this prestigious position at IARA.
       Source: TOI
3. Vitul Kumar Appointed as CRPF Director General
   • What:
     • Senior IPS officer Vitul Kumar has been given the additional charge as the Director General of the Central Reserve Police Force (CRPF).
   • Tell me more:
     • The CRPF plays a crucial role in efforts to combat left-wing extremism in Chhattisgarh by March 2026.

Source: HT

Miscellaneous

1. Richard Parsons, Former CEO of Time Warner, Dies at 76
   • Warner Media, LLC (doing business as WarnerMedia) was an American multinational mass media and entertainment conglomerate owned by AT&T.
   • It was established as Time Warner in 1990.
     Source: CNN

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