Dec 4th Week Details (Eng) by AC - 240124 - 182639

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Current Affairs Weekly PDF – December 2023 – 4th Week


(26 – 31)
NATIONAL AFFAIRS

Kerala Emerges as the Most Preferred CoinSwitch Released “India's Crypto


State to Work: ISR 2024 Portfolio 2023”: Delhi Tops in India’s
According to the 11th edition of the India skills Crypto Adoption
Report (ISR) titled 'India Skills Report 2024: Impact According to “India's Crypto Portfolio 2023”, the
of Artificial Intelligence on Skills, Work, Mobility' annual investor report of CoinSwitch, India's
released on 20th December 2023, Kerala have largest crypto trading platform, Delhi tops India’s
emerged as the most preferred State to work for crypto adoption (measured in terms of value
both male and female employable talent. The report invested) in 2023.
has been prepared by Wheebox, a talent ✓ Delhi accounted for 8.8% of total crypto
assessment agency. investment followed by
✓ Overall employability in India has increased Bengaluru(Karnataka) with 8.3% and
to 51.25% among surveyed youth with the Mumbai(Maharashtra) with 5.2%.
necessary skills. ✓ Bitcoin, the most prominent crypto, is up
✓ In terms of large talent availability, States by more than 150% year on year, compared
with the highest concentration of highly to December 2022.
employable youth are Haryana,
Maharashtra, Andhra Pradesh (AP), Uttar
India & Oman Adopts Vision Document
Pradesh (UP), Kerala, and Telangana.
✓ Telangana has the highest concentration of to Expand Bilateral Cooperation
employable talent in the age group of 18-21 Narendra Modi, Prime Minister (PM) of India and
with 85.45% followed by Kerala with Haitham Bin Tarik, the Sultan of Oman adopted the
74.93%. joint Vision document titled ‘A Partnership for the
Future’ for strengthening bilateral cooperation in
diverse areas and to scale up the partnership
Union Health Minister Mansukh between India and Oman.
Mandaviya Launched 'MedTech Mitra' to ✓ This joint vision underscores a shared
Empower India's MedTech Sector vision, aligning the strategic goals of Oman
Union Minister Dr. Mansukh Mandaviya, Ministry Vision 2040, Oman’s national development
of Health and Family Welfare (MoHFW), virtually blueprint, with India’s development
launched MedTech Mitra, a strategic initiative to objectives under ‘Amrit Kaal’.
empower MedTech innovators and advance ✓ 3rd Tranche of OIJIF Announced between
healthcare solutions. OIA and SBI to Strengthen Economic Ties of
✓ It is a collaborative initiative of the NITI India and Oman
Aayog(National Institution for ✓ Several Memorandum of Understandings
Transforming India); Indian Council of (MoUs) and agreements were also signed
Medical Research (ICMR); and Central during his visit.
Drugs Standard Control Organization Click here to read full News
(CDSCO).

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PwC Global Risk Survey 2023: Cyber SREC & Council for Leather Exports
Risk Tops as Biggest Threat for Indian Signed MoU to Strengthen Indian
Organizations Leather Sector
According to the report titled “PwC Global Risk Solidaridad Regional Expertise Centre (SREC), New
Survey 2023 - India highlights”, Cyber risks are Delhi-based Charitable Trust, have signed a
tops as the biggest threat faced by the Indian Memorandum of Understanding (MoU) with the
organisations. Around 38% of respondents are Council for Leather Exports (CLE) under the
feeling highly or extremely exposed to cyber risk. Ministry of Commerce and Industry (MoCI) to
✓ Climate change (37%) and inflation (36%) strengthen the performance of the Indian leather
were the 2nd and 3rd biggest threats for industry in domestic and international markets.
Indian organisations.
President Droupadi Murmu Gave Assent
India’s Total Rooftop Solar Capacity to Three New Criminal Bills &
crosses 10 GW; Gujarat emerges as Telecommunications Bill 2023
Leader On 25th December 2023, the President of India
Union Minister Raj Kumar Singh(RK Singh), Droupadi Murmu gave assent to three new
Ministry of New and Renewable Energy(MNRE), criminal bills: Bharatiya Nyaya (Second) Sanhita
informed that the cumulative Roof Top Solar (BNS2), 2023; Bharatiya Nagarik Suraksha
(RTS) installed capacity increased to 10.406 (Second) Sanhita(BNSS2), 2023; and Bharatiya
Gigawatts (GW) (as of 30th November 2023) from Sakshya (Second) Adhiniyam, 2023.
1.8 GW (as of 31st March 2019). The Compound ✓ The three new criminal bills will replace the
annual growth rate (CAGR) of RTS installations is British-colonial era laws: the Indian Penal
around 46%. Code(IPC), 1860; the Criminal Procedure
✓ With 3.2 GW of RTS installed capacity(30% Code (CrPC), 1973 and the Indian Evidence
of the total installed capacity), Gujarat has Act(IEA), 1872 respectively.
emerged as the leader in RTS segment. ✓ She also gave assent to the
✓ Gujarat is followed by Maharashtra with Telecommunications Bill, 2023 and Post
1.85 GW and Rajasthan with 1.06 GW Office Bill, 2023. Click here to read full
capacity. News

MoRTH to Introduce Nationwide GPS- Amit Shah releases a Postal Stamp,


based Toll Collection System by March Marking 50 Years of Pandit Jasraj’s
2024 Music Festival
Union Minister Nitin Jairam Gadkari, Ministry of Union Minister Amit Shah, Ministry of Home Affairs
Road Transport and Highways(MoRTH) announced (MoHA) and Ministry of Cooperation (MoC), has
that the Government of India plans to introduce a released a commemorative Postal Stamp to mark
Global Positioning System (GPS)-based toll 50th year of Pandit Jasraj Motiram’s music festival
collection system to replace the existing highway ‘Pandit Motiram Pandit Maniram Sangeet
toll-collection booths entirely. Samaroha’ in New Delhi, Delhi.
✓ The National Highways Authority of India ✓ About Pandit Jasraj Motiram: Pandit
(NHAI) will begin implementing this new Jasraj is an Indian classical vocalist,
system by March 2024. belonging to the Mewati gharana (a musical
apprenticeship tribe of Hindustani classical
music). He was a recipient of the Padma
Shri (1975), Padma Bhushan (1990) and
Padma Vibhushan (2000) in the field of
art.

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Cabinet Approval on 27th December students of Assam to help them to pursue


2023 Science, Technology, Engineering, and
The Union Cabinet chaired by Prime Minister (PM) Mathematics (STEM) subjects in their
Narendra Modi approved the following proposals higher education as part of Assam’s
on 27th December 2023. flagship programme ‘Arohan’.
✓ Minimum Support Prices (MSPs) for Copra
for the 2024 season.
✓ Project for the improvement and widening
of the Khowai-Harina road covering a total
length of 134.913 kms in Tripura.
✓ Construction of a New 4556 meter-long, 6-
Lane High Level/ Extra Dosed Cable-stayed
Bridge across the River Ganga connecting
Patna and Saran, in Bihar.
✓ Migration and Mobility Agreement between
India and Italy
✓ Opening of the Consulate General of India in
Auckland, New Zealand
✓ MoU between Prasar Bharati and Radio
Televisyen Malaysia (RTM), Malaysia. Click
here to read full News

CBDT Issues Guidelines on Under Indian Navy Unveils New Admirals'


Section 194-O of IT Act 1961 Epaulettes Inspired By
On 28th December 2023, the Central Board of Chhatrapati Shivaji's Rajmudra
Direct Taxes (CBDT), under the Department of The Indian Navy (IN) has introduced a new design
Revenue in the Ministry of Finance (MoF), issued for the Admirals' Epaulettes, drawn from the
the guidelines under sub-section 4 of section 194-O Naval Ensign and features elements inspired by the
of the Income-tax Act 1961. Rajmudra of Chhatrapati Shivaji Maharaj.
✓ Section 194-O of the IT Act, 1961 states that ✓ The new design incorporates several
an ECO shall deduct income tax at the rate symbolic elements such as the Golden Navy
of 1% of the gross amount of sale of goods Button, Octagon, Indian Sword, and
or provision of service, or both, facilitated Telescope.
through its platform. ✓ The redesigned Epaulettes have been
unveiled for the ranks of Admiral, Vice
Reliance Jio & IIT-Bombay collaborates Admiral, and Rear Admiral, the top 3
to Build ‘BharatGPT’ positions in the naval forces.
Reliance Jio Infocomm Limited (Jio), a subsidiary of
Reliance Industries Limited(RIL), has collaborated Union Minister Piyush Goyal: Govt
with the Indian Institute of Technology (IIT) Extends RoDTEP Benefits to E-
Bombay, Mumbai, Maharashtra, to develop the
Commerce Exports
'BharatGPT(Generative Pre-Trained
Union Minister Piyush Goyal, Ministry of Commerce
Transformer)' program.
and Industry (MoCI), announced that the
✓ Indian Institute of Technology (IIT)
government has extended the benefits of the
Guwahati, Assam in collaboration with the
Scheme for Remission of Duties and Taxes on
Government of Assam had hosted a career
Exported Products (RoDTEP) to e-commerce
progression session for meritorious
exports through courier and postal services.

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✓ Union Minister also released the "E- DEA releases Interest Rate on Small
Commerce Exports Handbook for Saving Schemes for Q4FY24; Hikes rate
MSMEs(Micro, Small, and Medium
on SSAS & 3-year Time Deposit
Enterprises)" prepared by the Directorate
On December 29, 2023, the Department of
General of Foreign Trade (DGFT) in New
Economic Affairs-DEA (Budget Division), Ministry
Delhi, Delhi.
of Finance released the interest rates for Small
✓ During the event, DGFT and Shiprocket, an
Savings Schemes applicable in the January-March
E-Commerce enabler, signed a
2024 quarter (Q4FY24) i.e. from January 1, 2024
Memorandum of Understanding (MoU) to
to March 31, 2024.
support new and first-time exporters,
✓ As per it, the interest rate on the
especially from MSMEs, in leveraging E-
Sukanya Samriddhi Account Scheme
Commerce for international trade.
(SSAS) increased by 20 basis points from
8% to 8.2% for Q424.
NSE data: Maharashtra tops Among ✓ The interest rate on three-year time
States with Highest Number of deposits also increased by 10 basis points
Registered Investors from 7% to 7.1%.
According to recent data from the National Stock ✓ The interest rates for all other small savings
Exchange (NSE), Maharashtra tops the list of schemes will remain unchanged from the
states with the highest number of registered rates offered in Q3FY24 (October-December
investors. Maharashtra registered a growth of 2023).
16.9% with over 1.48 crore registered investors.
✓ Uttar Pradesh (UP), with 89.47 lakh New Design & Test Facility was
investors, has surpassed Gujarat (76.68 Inaugurated at HAL’s AERDC in
lakh) and secured the 2nd position on the
Bengaluru
list. At present, India is ranked 4th in the
On 29th December 2023, Giridhar Aramane,
world in terms of market capitalisation,
Defence Secretary, Ministry of Defence (MoD),
following the United States of
inaugurated a new state-of-the-art design and test
America(USA), China and Japan.
facility at Aero Engine Research and Development
Centre (AERDC) of Hindustan Aeronautics Limited
Union Minister Bhupender Yadav (HAL) in Bengaluru, Karnataka.
Launched NTPS-“One Nation-One Pass” Note: AERDC, established in the 1960s, is the only
to Enable Seamless Transit of Forest design house that has developed test beds for
Produce across India engines of both Western and Russian origin.
Union Minister Bhupender Yadav, Ministry of
Environment, Forest and Climate Change TEC Launched online modules for CoA &
(MoEF&CC) launched the National Transit Pass Technology Approval Under Voluntary
System (NTPS), envisioned as a One National One Certification Scheme
Pass system, will enable seamless transportation of Telecommunication Engineering Centre (TEC)
timber, bamboo, and other forest produce across launched a Online Voluntary Certification
India. modules of Certificate of Approval (CoA) and
✓ Union Minister also flagged off the special Technology Approval under its voluntary
Pan Indian vehicles carrying forest certification scheme to enhance the Ease of Doing
produce to create awareness abou the Business and Promote Atmanirbhar Bharat.
applicability and ease of using NTPS. ✓ TEC is the technical arm of the Department
of Telecommunications (DOT) under the
Ministry of Communications (MoC) .

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INTERNATIONAL AFFAIRS

India's Coking Coal Imports Witnessed ✓ Both agreed to extend the trade and
5-Year High, Reached 38.14 mt; connectivity through the land route of Land
Customs Station (LCS) Radhikapur (Birol)
Australia Remains Dominant Supplier
and Hodibari (Chilahati) of West Bengal.
India’s coking coal imports are at a five-year high
during the April-November period(11 months) of
fiscal year 2023-24(FY24) at 38.14 million tonnes Angola Quits OPEC After Disagreements
(mt). On a year-over-year (y-o-y) basis, this Over Production Targets
represents a slight increase compared to the 38.12 The Republic of Angola announced its decision to
mt imported during the same period in FY23. withdraw from OPEC (Organization of the
✓ Australia is the dominant supplier for India, Petroleum Exporting Countries), with effect from
accounting for over 60% of shipments. Over January 2024, after disagreements regarding the
the past 5 years, Australia’s market share OPEC’s production targets. Angola has been a
has decreased from 75%. member of OPEC since 2007.
✓ As of October 2023, the United States of
America (USA) is the 2nd largest supplier 8th Edition of IONS Conclave of Chiefs
of coking coal to India. Russia is the 3rd
Held in Bangkok, Thailand from 19-22
largest supplier replacing countries such as
Canada and Mozambique. Dec 2023
The 8th edition of the Indian Ocean Naval
Symposium (IONS) Conclave of Chiefs (CoC)
India, Bangladesh Agrees to Extend (2023) hosted by the Royal Thai Navy (RTN) was
Crucial IBP Route held in Bangkok, Thailand from 19–22 December
As per the Protocol on Inland Water Transit & 2023. The 8th Conclave marks the transition of
Trade (PIWT&T), the Government of India (GOI) IONS Chairmanship from France(2021-23) to
and Government of Bangladesh(GoB) have agreed Thailand(2023-2025).
to extend Indo-Bangladesh Protocol (IBP) route Note: India is scheduled to take over the Chair of
and declare Safardighi in West Bengal as the new IONS (2025-27) during the 9th CoC, which planned
port of call. to be conducted in India in late 2025.

BANKING & FINANCE

ADB & India Signed USD 100 mn Loan NABARD signs pact with ADB to facilitate
Agreement to Improve Urban Services & Climate Action in India’s ANR Section
Tourism Facilities in Tripura National Bank for Agriculture and Rural
Asian Development Bank (ADB) and The Development (NABARD) and Asian Development
Government of India (GoI) signed a loan agreement Bank (ADB) have launched an initiative to facilitate
of USD 100 million for the project “India : Tripura climate action in India’s Agriculture, Natural
Urban and Tourism Development Project” which Resources, and Rural Development (ANR) sector.
aims to improve urban services and tourism ✓ Under this initiative, NABARD collaborates
facilities in the northeastern state of Tripura. with the Bill and Melinda Gates
✓ This is the first urban project in India that Foundation to establish a Technical
has been prepared with Project Readiness Support Unit (TSU) to address climate
Financing(PRF). change challenges, focusing on agriculture
and rural livelihood sectors in India.

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WB and DEA launch PPP Beginner’s e- RBI Grants 1 year Extension to Co-
course to foster PPP collaboration in branded Credit Card of Bajaj Finance &
Infrastructure Capacity-Building RBL Bank
The World Bank (WB) and the Department of Reserve Bank of India (RBI) has granted a 1-year
Economic Affairs (DEA), Ministry of Finance extension, until 21st December 2024, for Bajaj
launched the Public-Private Partnership (PPP) Finance Limited(BFL)’s co-branded credit card
Beginner's e-course to help people understand partnership with Mumbai(Maharashtra) based RBL
and contribute to PPPs in India. Bank Limited.
✓ It is a step towards fostering collaboration Note: RBI granted 1 year extension against the 2
between the public and private sectors in years sought by Bajaj Finance.
infrastructure capacity-building. It was
launched by Ajay Banga, President, WB IndusInd Bank launches 'eSvarna’,
Group in the presence of Ajay Seth,
India’s First Corporate Credit Card on
Secretary, DEA, among others.
RuPay Network
IndusInd Bank Limited has launched India’s first
ICICI Prudential AMC Changed its ETF Corporate Credit Card ‘The eSvarna Card’ on
Symbols RuPay network as part of a Corporate Liability
ICICI Prudential Asset Management Company(AMC) program. With this launch, IndusInd Bank became
Limited has changed its exchange-traded fund the first entity in India to integrate Unified
(ETF) product symbols to ‘IETF‘ (which stands for Payments Interface (UPI) functionality with a
ICICI Prudential ETF) to simplify the identification Corporate Credit Card.
of ETF Schemes for passive investment purposes. ✓ The eSvarna Card is a Europay, Mastercard
✓ The move is in line with Securities Exchange and Visa (EMV) chip based contactless
Board of India (SEBI)'s master circular Commercial Credit Card which can be used
which dictates that the scheme name should at all RuPay accepting merchant
mirror the scheme category. establishments across the globe.

SIDBI grants Rs.12.45 Cr to ETO Motors Bank of Maharashtra unveils


to deploy 300 E3W Comprehensive Suite of New Products
Small Industries Development Bank of India and Services
(SIDBI) has granted Rs. 12.45 crores to ETO Motors Bank of Maharashtra (BoM) announced a new suite
Private Limited to deploy 300 Electric 3-Wheelers of products and services during Maha Parivartan
(E3W) in Hyderabad(Telangana) and New Delhi Diwas on December 19, 2023 to improve the
(Delhi), under Mission 50K-EV4ECO. banking experience.
✓ The products and services were launched
IRDAI is set to Launch ‘Bima Vistaar’, the across diverse platforms like Mobile
First of its Kind Insurance Product Banking, Internet Banking, WhatsApp
The Insurance Regulatory and Development Banking, Credit Card Services, and a
Authority of India (IRDAI) is all set to launch the spectrum of Digital Products.
first of its kind affordable insurance product
covering risks against life, health, and property RBI Releases Draft Licensing Framework
namely 'Bima Vistaar' in the first quarter of 2024- for APs under FEMA
2025 i.e. Q1FY25. On December 26, 2023, the Reserve Bank of India
✓ Bima Vistaar is a part of Insurance Trinity (RBI) has released a draft 'Licensing Framework for
which also includes Bima Sugam, a one- Authorized Persons (APs)' under Foreign Exchange
stop digital platform; and Bima Vahak, a Management Act (FEMA), 1999.
women-led field distribution force.

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✓ Rationalize the authorization framework for ✓ Depository Participants, Asset Management


money changers in view of the widespread Companies (AMCs), and Registrar and
availability of banking services. Improve the Transfer Agents (RTA) will regularly
scope of services being offered by AD remind holders via email and SMS (Short
(Authorized Dealers)-Category II entities Message Service) to comply with the
and review the regulatory framework for nomination requirement.
APs.
SEBI issues Procedure for Public
SBI signs USD 165 mn LoC with World Issuance of ZCZP instrument by NPOs
Bank for Rooftop Solar Projects On December 28, 2023, the Securities and Exchange
In December 2023, the State Bank of India (SBI) Board of India (SEBI) notified a procedure for
signed a USD 165 million Line of Credit (LoC) with public issuance of Zero Coupon Zero Principal
the World Bank (WB) to finance grid-connected (ZCZP) Instruments by a Not for Profit
rooftop Solar Photovoltaic projects in residential Organization (NPO) and listing of such
and institutional sectors. instruments on the Social Stock Exchange (SSE).
✓ On December 21, 2023, SBI signed 200 ✓ SEBI has also allowed stock brokers to
million euro (~Rs 1,800 crore) LoC with the settle Client’s Funds lying with Trading
European Investment Bank (EIB) to support Member (TM) on Saturdays i.e. one more
climate action projects in India. day is provided. Now, stock brokers can
settle the running account of clients' funds
RBI approves IDFC-IDFC First Bank on the first Friday or Saturday of the
quarter or month at the choice of the
Merger; Notifies GSL Directions 2023
clients.
On December 26, 2023, the Reserve Bank of India
(RBI) has given its nod for the reverse merger of
IDFC Limited and IDFC Financial Holding Company SBI, HDFC Bank will need to maintain
(IDFC FHCL) with its banking subsidiary IDFC First Higher Capital from FY25
Bank Limited. As part of the composite scheme of On December 28, 2023, the Reserve Bank of India
amalgamation, IDFC FHCL would first merge with (RBI) released the list of Domestic Systemically
IDFC and then IDFC into IDFC First Bank Ltd. Important Banks (D-SIBs) in which State Bank of
✓ RBI has notified RBI (Government India (SBI), HDFC Bank and ICICI Bank continued to
Securities Lending/GSL) Directions, 2023 in be identified as D-SIBS. However, SBI and HDFC
exercise of the powers conferred under Bank will need to maintain higher capital from
section 45W of the RBI Act, 1934 read with April 1, 2025.
section 45U of the Act and of all the powers ✓ The additional common equity Tier 1 (CET-
enabling it in this behalf w.e.f. December 1) as a percentage of Risk Weighted Assets
27, 2023.These are applicable to all GSL (RWAs) requirement for SBI will be 0.80%,
transactions, undertaken in Over-the- and for HDFC Bank, it will be 0.40%.
Counter (OTC) markets. ✓ Note: The RBI has moved SBI from bucket 3
to bucket 4 and HDFC Bank from bucket 1
SEBI Extends Deadline to June 2024 to to bucket 2. This means they will have to
meet the above mentioned higher
add Nominees in Mutual Funds, Demat
additional CET 1 requirements. Upto March
Accounts 31, 2025, the D-SIB surcharge applicable to
On December 27, 2023, the Securities and Exchange SBI and HDFC Bank is 0.60% and 0.20%,
Board of India (SEBI) extended the deadline to add respectively.
nominees for Demat Accounts (Dematerialisation
Account) and mutual fund portfolios to June 30,
2024. Earlier the deadline was December 31, 2023.

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RBI Extends Payments Infrastructure ✓ Premium income of life insurance


Development Fund Scheme Till 2025 companies rose by 12.98% to Rs 7.83 lakh
The Reserve Bank of India (RBI) has revised the crore in FY23 while the premium income of
Payments Infrastructure Development Fund (PIDF) general insurers increased by 16.4 per cent
scheme and extended the deadline by two years, to Rs 2.57 lakh crore.
i.e., upto December 31, 2025.
✓ PIDF scheme was introduced by RBI in RBI cancels licence of Gujarat’s Botad
2021 for a period of 3 years (until Peoples Co-operative Bank, and
December 2023). The scheme aims to Maharashtra’s Adarsh Mahila Nagari
encourage deployment of payment
Sahakari Bank Maryadit
acceptance infrastructure such as physical
On December 29, 2023, the Reserve Bank of India
Point of Sale (PoS) terminals, Quick
(RBI) has cancelled the banking license of The
Response (QR) codes by adding 30 lakh
Botad Peoples Co-operative Bank Ltd., Botad,
touch points every year.
Gujarat but granted the non-banking institution
licence. It also cancelled the license of Adarsh
IRDAI Annual Report 2022-23: India’s Mahila Nagari Sahakari Bank Maryadit,
Insurance Penetration Drops to 4% in Aurangabad, Maharashtra.
2022-23
According to the Insurance Regulatory and CBI & Kisetsu Saison Finance Partners
Development Authority of India (IRDAI)’s Annual for MSME Loan
Report 2022-23, the overall insurance penetration The Central Bank of India Limited (CBI) has
in India reduced from 4.2% in 2021-22 to 4% in entered into a Co-Lending Partnership with
2022-23. Bengaluru (Karnataka) based Kisetsu Saison
✓ Life insurance penetration has reduced Finance (India) Private Limited, to offer Micro,
marginally from 3.2% in 2021-22 to 3% in Small & Medium Enterprise (MSME) Loans. Under
2022-23 while non-insurance penetration this partnership, CBI will be acquiring 80% of the
remained unchanged at 1%. MSME loans which are originated and processed by
✓ A total of 2.84 crore policies were sold Kisetsu Saison Finance.
during the fiscal year 2022-2023 (FY23). Of
this, 97.38 lakh were sold to women.

ECONOMY & BUSINESS

Adani Green Energy inks pact with SECI Reliance & Walt Disney Signed a Non-
for supply of 1,799 MW Solar Power binding Agreement to Merge Media
On December 25, 2023, Adani Green Energy (AGEL) Operations
signed a Power Purchase Agreement (PPA) with the Reliance Industries Ltd (RIL) and Walt Disney
Solar Energy Corporation of India (SECI) to supply Co. have signed a non-binding term sheet to merge
1,799 MW (Mega Watt) of solar power. The final their Indian media operations. Under the merger
PPA to supply 1,799 MW solar power was inked for Reliance would own 51% through a combination of
a period of 25 years. shares and cash, and Disney will hold the remaining
✓ With this PPA, AGEL completes the power 49%. The merger is expected to be finalised by
off-take tie-up for the 8,000 MW February 2024.
manufacturing-linked solar tender awarded
to it by SECI in June 2020. This set a record
for being the world’s largest solar tender.

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ATGL signs MoU with Flipkart to Reduce (GloPAC) held in Gandhinagar, Gujarat from 24th-
Carbon Footprint 26th November 2023.
Adani Total Gas Limited (ATGL) and Flipkart India
Private Limited have signed a Memorandum of Adani Global and Sirius International
Understanding (MoU) to collaborate on partners to form a JV - Sirius Digitech
decarbonising Flipkart’s supply chain. International
Adani Global Limited has formed a joint venture
ONDC Announced Two Separate “Sirius Digitech International Limited (Sirius JV)”
Partnership with Google and Meta with United Arab Emirates (UAE)-based Sirius
In December 2023, Open Network for Digital International Holding Limited (Sirius) to deploy
Commerce (ONDC), an open e-commerce platform, Artificial Intelligence (AI), Internet of Things (IoT),
announced two Separate partnership with Google and Secured Blockchain Products for industrial
and Meta(formerly known as Facebook). applications. Sirius will own 51% of the Sirius JV,
✓ ONDC and Google has partnered to enable while Adani will own 49%.
metro ticket booking through its mapping
app - Google map. RIL Becomes 1st Indian Company to Use
✓ ONDC and Meta has partnered to expand its Chemical Recycling For ISCC-Plus
outreach to small businesses through
Certified Circular Polymers
Whatsapp.
Reliance Industries Limited (RIL) became the 1st
Indian company to chemically recycle plastic
VP Jagdeep Dhankhar Launched the New waste-based pyrolysis oil into International
Logo of ICAI Sustainability & Carbon Certification (ISCC)-Plus
Jagdeep Dhankhar, Vice- certified Circular Polymers. RIL's
President (VP) of India, Jamnagar(Gujarat) refinery became the 1st
launched the new logo of the refinery to get the ISCC-Plus certification,
Institute of Chartered validating its capability to produce Circular
Accountants of India (ICAI) during the 1st ever Polymers through chemical recycling.
Global Professional Accountants Convention

AWARDS & RECOGNITIONS

DSCI Excellence Awards Presented at Winners of Sahitya Akademi 2023


Nasscom-DSCI Annual Information Announced: Total of 24 Indian
Security Summit 2023 Languages been Awarded
The 18th edition of the NASSCOM- Data Security The Sahitya Akademi announced the winners of the
Council of India (DSCI) Annual Information Sahitya Akademi Awards 2023, the annual award
Security Summit (AISS), a 3-day event, was held that recognizes literary works in 24 Indian
from 19th to 21st December 2023 at the Leela languages (including English). The winners of the
Ambience Hotel, Gurugram, Haryana. Sahitya Akademi Awards 2023 include 9 books of
✓ During the summit, the 13th edition of the poetry, 6 Novels, 5 short stories, 3 Essays, and 1
DSCI Excellence Awards (2023) was Literary Study.
presented to recognise organizations and ✓ The Award is in the form of a casket
individuals for their work in the fields of containing an engraved copper plaque, a
cybersecurity and privacy. Click here for the shawl, and a cash prize of Rs. 1 lakh.
complete list of winners ✓ The awards recognize the works under
various categories such as poetry, short

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stories, Novels, Play/Drama, Literary of articles, and Literary History.Click here


criticism, Autobiography essays, Collections to read full News

APPOINTMENTS & RESIGNATIONS

Satish Kumar Kalra Named Interim MD ✓ The IOA appointed Bhupinder Singh
& CEO of Slice-backed NESFB Bajwa, the President of Wushu Association
The Reserve Bank of India (RBI) has approved the of India as chairman of the ad hoc
appointment of Satish Kumar Kalra, as interim committee.
Managing Director (MD) and Chief Executive ✓ The other 2 members of the committee are
Officer (CEO) of the Fintech startup Slice-backed Maneyapanda Muthanna Somaya, an
North East Small Finance Bank (NESFB). Olympian in hockey; and
Manjusha Kanwar, a former international
badminton player.
SEBI approves Appointment of Pramod
Agrawal as BSE Chairman
RBI Approved the Appointment of C S
The Securities and Exchange
Board of India (SEBI) has
Rajan as the Part-time Chairman of
approved the appointment of KMBL
Pramod Agrawal as the Reserve Bank of India (RBI) has approved the
Chairman of the BSE Limited appointment of Chandra Shekhar Rajan (C S Rajan)
(formerly Bombay Stock as the Part-time Chairman of Kotak Mahindra Bank
Exchange) with effect from 17th January 2024. He Limited (KMBL) for two years with effect from 1st
will be replacing Subhash Sheoratan Mundra (SS January 2024. He will be replacing incumbent
Mundra), the current Chairman of BSE, whose Non-Executive Independent Part-time Chairman,
tenure is set to expire on 16th January 2024. Prakash Apte who is set to retire on 31st
December 2023.
HDFC Bank Recommends Re-
appointment of Atanu Chakraborty as Nina Singh Appointed as 1st Woman DG
Chairman for 3 years of CISF; Anish Dayal Appointed as DG of
The Board of Directors of HDFC Bank Limited has CRPF
recommended the re-appointment of Atanu Nina Singh was appointed as the
Chakraborty as the Part-Time Non-Executive 1st woman Director General
Chairman and Independent Director of the Bank to (DG) of the Central Industrial
the Reserve Bank of India (RBI) for a second term Security Force (CISF). She will
of 3 years with effect from 5th May 2024 to 4th hold the post till her
May 2027. superannuation on July 31,
2024.she was holding the additional charge of DG of
CISF from August 2023 following the
IOA Forms 3-member Ad Hoc Committee
superannuation of Sheel Vardhan Singh, who held
to Run Operations of Suspended WFI the position from November 2021 to August 2023.
The Indian Olympic Association (IOA) constituted a ✓ Anish Dayal Singh, DG of Indo-Tibetan
3-member ad hoc committee to run the day-to-day Border Police (ITBP) was appointed as the
operations of the Wrestling Federation of full-time DG of the Central Reserve Police
India (WFI). This comes after the suspension of the Force (CRPF) till his superannuation on 31
WFI’s governing council by the Ministry of Youth December 2024. He was holding the
Affairs and Sports (MYAS). additional DG, CRPF charge following S L

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Thaosen's retirement on 30 November Motor Company (HMC), has roped in


2023. Deepika Padukone, a Bollywood actress and
✓ Rahul Rasgotra succeeded Anish Dayal producer as its brand ambassador.
Singh and will be the new DG of ITBP till
the date of his superannuation on 30 US President nominated Indian
September 2025.
American Deven Parekh to the Board of
✓ Vivek Srivastava was appointed as DG of
the Fire Service, Civil Defence, and Home DFC
Guards till the date of his superannuation Joe Biden, The President of the United States of
on 30 June 2025. America (USA) has nominated Indian-American
global venture capitalist Deven Parekh, Managing
Director at Insight Partners, as a member of the
Hyundai Motor Appointed Deepika Board of Directors of the US International
Padukone as Brand Ambassador Development Finance Corporation (DFC) for 3
Hyundai Motor India Limited (HMIL), a wholly- years.
owned subsidiary of South Korea-based Hyundai

ACQUISITIONS & MERGERS

CCI Approves Acquisition of Controlling Pru Life) to acquire aggregate holding of up to


Stake in RCL by IIHL, IIHL BFSI & Aasia 9.95% of the paid-up share capital or voting rights
The Competition Commission of India (CCI) has in RBL Bank Limited, IDFC FIRST Bank Limited,
approved the acquisition of controlling stakes in Equitas Small Finance Bank (SFB), Federal Bank,
Reliance Capital Limited (RCL) by IndusInd and IndusInd Bank Limited.
International Holdings Limited (IIHL), IIHL BFSI
(India) Limited (IIHL BFSI), and Aasia Enterprises
LLP (Aasia).
✓ CCI approved the acquisition of a 9.99 %
equity stake in Dilip Buildcon Limited (DBL)
by Alpha Alternatives Holdings Pvt Ltd
(AAHPL) and its other entities.
✓ The Competition Commission of
India (CCI) has approved the proposal
made by Kolkata (West Bengal) based PCBL
Limited (formerly known as Phillips
Carbon Black Limited) to
acquire 100% paid-up share capital in
Pune-based Aquapharm Chemicals Private
Limited (ACPL).

I-Pru AMC & I-Pru Life Gets RBI Approval


to Acquire a 9.95% Stake in RBL, IDFC LIC reduces Stakes in BHEL to 9.617%
FIRST, Equitas SFB, Federal and Life Insurance Corporation of India (LIC) reduced
IndusInd Bank its shareholding in Bharat Heavy Electricals Limited
The Reserve Bank of India (RBI) has given its (BHEL) from 11.701% to 9.617% through open
approval to ICICI Prudential Asset Management market operation(OMO). LIC sold its BHEL shares
Company Limited (I-Pru AMC) and ICICI at an average price of Rs 79.58 through secondary
Prudential Life Insurance Company Limited (I- market between June 2019 and December 2023.

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SCIENCE & TECHNOLOGY

Iran's Navy Includes Cruise Missiles Destroyer, at Naval Dockyard, Mumbai,


Talaeieh & Nasir to its Armoury Maharashtra in the presence of Union Minister
On December 24, 2023, Iran's navy has added the Rajnath Singh, Ministry of Defence (MoD).
“Talaeieh” and the “Nasir”, the domestically ✓ It is the third of four Project 15B
produced cruise missiles to its arsenal. The missiles ‘Visakhapatnam’ class destroyers designed
are stationed at a naval base near the Indian Ocean by the IN’s Warship Design Bureau (WDB)
in the southern Iranian port of Konarak. and built by Mazagon Dock Shipbuilders
Limited (MDL), Mumbai.
✓ The Talaeieh has a range of over 1,000
✓ The first two destroyers of Project 15B i.e.
kilometers and can change targets while
INS Visakhapatnam and INS
traveling. The Nasir has a range of 100
Mormugao were commissioned in 2021 and
kilometers and can be installed on
2022 respectively.
warships.

Pakistan Conducted Successful Flight


Uttarakhand Tourism Conducts trial run
Test of Indigenously Developed 'Fatah-
of Gyrocopter for 'Himalaya Airsafari'
Uttarakhand Tourism Development Board (UTDB)
II' Rocket System
in partnership with Rajas Aerosports and Pakistan Military conducted a successful flight test
Adventures Private Limited has completed the first of the indigenously developed guided Multi-
gyrocopter trial flight at Bairagi Camp in Haridwar, Launch Rocket System (MLRS) 'Fatah-II', which is
Uttarakhand. This paves a path for UTDB to launch equipped with state-of-the-art avionics, a
India’s first Himalayan Air Safari scheme using sophisticated navigation system, and a unique flight
gyrocopter. trajectory.

China Launched 3 Satellites into Orbit NASA Relaunches OSIRIS-APEX mission


from the South China Sea to study Apophis Asteroid’s 2029 flyby
On 26th December 2023, China’s Taiyuan Satellite National Aeronautics and Space Administration
Launch Center successfully launched a Long March (NASA) launched OSIRIS-APEX (Origins, Spectral
11, carrying three experimental satellites of the Interpretation, Resource Identification, and
Shiyan 24C series, from the waters of the coast of Security – Apophis Explorer) to study the asteroid
Yangjiang in Guangdong province, China. The Apophis and take advantage of the asteroid’s 2029
rocket has successfully placed the satellites into the flyby of Earth.
preset orbit. ✓ Asteroid 99942 Apophis is named for the
✓ China also launched the Long March-3B demon serpent “Apophis” of the ancient
rocket carrying the 57th and 58th satellites Egyptian mythology, which personifies evil
of the BeiDou Satellite Navigation System and chaos. It is also known as “God of
(BDS) from the Xichang Satellite Launch Chaos”.
Center in the southwestern Sichuan
province, China. Russia & NASA Agrees to Extend Cross-
flight Programme to ISS until 2025
IN Commissioned Stealth Guided Missile Russia’s Roscosmos and the National Aeronautics
Destroyer INS Imphal in Mumbai and Space Administration (NASA) have agreed to
On 26th December 2023,the Indian Navy (IN) extend their partnership in space exploration by
commissioned the Indian Naval Ship (INS) continuing cross-flights, involving crews of various
Imphal(Yard 12706), a Stealth Guided Missile

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nationalities to travel on a single spacecraft to the The 1st Barge of series LSAM 7 (Yard 75)
International Space Station (ISS) until 2025. was delivered to IN on 18th July 2023.

LSAM 10 (Yard 78): Indian Navy’s 4th Seventh Ferry craft 'Manjula' (Yard 786)
MCA Barge Launched in Mumbai Delivered to Indian Navy
On 28 December 2023, The Indian Navy (IN) On 29th December 2023, Kolkata (West Bengal)
inducted the Missile Cum Ammunition (MCA) based The Shalimar Works (1980) Limited has
Barge, LSAM 10 (Yard 78), the 4th Barge of the delivered the seventh 250 Men Ferry Craft
08 x MCA Barge project at Naval Dockyards in ‘Manjula’ (Yard 786) to the Indian Navy (IN).
Mumbai, Maharashtra for the Naval Armament Manjula(Yard 786) Ferry Craft was built under the
Depot (NAD), Karanja, Mumbai. ‘Make in India’ initiative of the Ministry of
✓ The barge was built by the SECON Defence (MoD) with all major and auxiliary
Engineering Projects Pvt Ltd (SEPPL), equipment or systems sourced from indigenous
Visakhapatnam, Andhra Pradesh for the IN. manufacturers.

ENVIRONMENT
--------------

SPORTS

Forbes’ World’s Highest-Paid Female United


Athletes 2023: Polish Tennis Player Iga States of
Coco America 21.7
Swiatek Tops; India’s PV Sindhu Ranked 3 Gauff (USA) Tennis million
16th Emma United
Polish Tennis Player Iga Świątek(22 years old) has Raducan Kingdom 15.2
topped the Forbes’ annual list World’s Highest- 4 u (UK) Tennis million
Paid Female Athletes 2023, with a total earning of Naomi 15
USD 23.9 million (on-field USD 9.9 million; off-field 5 Osaka Japan Tennis million
USD 14 million) in 2023. P.V. Badminto
✓ Indian Badminton player Pusarla Venkata Sindhu India n
Sindhu (PV Sindhu) is tied with American Simone Gymnastic 7.1
Gymnast Simone Biles in 16th 16 Biles USA s million
position with a total earning of USD 7.1
million (on-field USD 0.1 million; off-field Manchester City Defeats Fluminense to
USD 7 million). Sindhu is the only Indian Win FIFA Club World Cup 2023
and the only badminton player featured The United Kingdom’s Manchester City Football
on the list. Club (F.C.) won their maiden
Top 5 World Highest-Paid Female Athletes 2023 Fédération Internationale de Football Association
by Forbes: (FIFA) Club World Cup 2023 by defeating
Earning Fluminense F.C.(Brazil) in the finals held at King
s Abdullah Sports City in Jeddah (Saudi Arabia).
Ran Nationalit
k Name y Sport (in USD)
Iga 23.9 OYO partners with Khelo India and
1 Świątek Poland Tennis million
others to aid Differently-Abled Talent
Freestyle 22.1
2 Eileen Gu China skiing million Gurugram (Haryana) based OYO Hotels and Homes

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Private Limited (OYO) has partnered with Khelo provide specialised and accessible accommodation
India Para Games and Divyang Kala Mela, to for differently abled players across India.

OBITUARY

Former President of European


Commission Jacques Delors Passed Actor-Turned Politician Vijayakanth
Away Passed Away
French Politician Jacques Delors, who served as the Tamil actor and the founder of Desiya Murpokku
President of the European Commission (EC) from Dravida Kazhagam (DMDK), Vijayakanth, passed
1985 to 1995, passed away at the age of 98 in Paris, away in Chennai, Tamil Nadu (TN). DMDK is a
France. He was born on 20th July 1925 in Paris, regional political party in TN. In 2001, the
France. Government of India(GoI) honoured him with the
✓ He served as the 8th President of the ‘Best Indian Citizen Award by the Government
European Commission from 1985 to 1995 of India’ for promoting patriotism.
for three terms, longer than any other
holder of the office.

BOOKS & AUTHORS

PM Modi Released 1st Series of 11 book was published by Penguin Random House
Volumes of 'Collected Works of Pandit India.
Madan Mohan Malaviya'
On 25th December 2023, Prime Minister (PM) ISRO Releases Book on ‘FEAST
Narendra Modi, launched the 1st series of 11 Software’ Written by FEA Experts of
volumes of “Collected Works of Pandit Madan VSSC
Mohan Malaviya“, at the event held in Vigyan The book titled "Introduction to Finite Element
Bhawan, New Delhi, Delhi. Analysis - A Textbook for Engineering Students"
✓ The event was organised on the occasion of released by the Indian Space Research
the 162nd birth anniversary of Mahamana Organisation(ISRO)’s Vikram Sarabhai Space Centre
Pandit Madan Mohan Malaviya, the founder (VSSC) offers insights into the fundamentals of
of Banaras Hindu University(BHU). Finite Element Analysis (FEA) method and how
FEAST (Finite Element Analysis of Structures)
Breaking the Mould, a new book by software can be used for solving real-world
Raghuram Rajan& Rohit Lamba problems.
Former Reserve Bank of India (RBI) ✓ The book was edited by S Somanath,
Governor Raghuram Rajan in collaboration with Chairman of ISRO, and Dr. Unnikrishnan
Economist Rohit Lamba authored a new book, Nair S, Director of VSSC-
titled "Breaking the Mould: Reimagining India's Thiruvananthapuram(Kerala), and written
Economic Future," that explores strategies for by finite element analysis experts of VSSC.
accelerating India's economic development. The The book was published by Springer
Publications.

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IMPORTANT DAYS

National Consumer Rights Day 2023- Veer Bal Diwas 2023 – December 26
December 24 Veer Bal Diwas is annually observed across India
National Consumer Rights Day, also known as on 26 December to pay honour and tribute to the
Bharatiya Grahak Diwas or National Consumer sacrifices of Sahibzada Zorawar Singh and
Day, is annually observed across India on 24 Sahibzada Fateh Singh, the 3rd and 4th son(Chhote
December to raise awareness of consumer rights Sahibzadas) of Guru Gobind Singh, 10th and last
and responsibilities. Sikh Guru.
✓ The day commemorates the enactment of ✓ 26 December 2023 marks the 2nd
the Consumer Protection Act (CPA) of 1986, observance of Veer Bal Diwas. The first
which received the assent of the President Veer Bal Diwas was observed on 26th
of India on 24 December 1986. The 1st December 2022.
National Consumer Rights Day was ✓ On 9 January 2022, on occasion of the
observed on 24 December 1986. Prakash Purab (birth anniversary) of Guru
Gobind Singh, PM Narendra Modi declared
Good Governance Day 2023 - December that December 26 would be observed as
‘Veer Bal Diwas’ to mark the martyrdom of
25
the Chhote Sahibzadas.
Good Governance Day, also known as
Sushasan Diwas in Hindi, is annually observed
across India on 25th December to mark the birth International Day of Epidemic
anniversary of the former(10th) Prime Minister Preparedness 2023- December 27
(PM) Late Atal Bihari Vajpayee. The day also aims The United Nations (UN)’s International Day of
to create awareness of accountability and Epidemic Preparedness is annually observed
administration of government among the people. across the globe on 27th December to highlight
✓ 25th December 2023 marks the 10th Good the significance of the prevention of, preparedness
Governance Day and 99th birth anniversary for, and partnership against epidemics.
of Atal Bihari Vajpayee. The third Good ✓ 27 December 2023 marks the observance
Governance Week (Sushasan Saptah) was of the 4th International Day of Epidemic
observed from 19-25 December 2023. Preparedness. The first International Day
of Epidemic Preparedness was observed on
27 December 2020.

STATE NEWS

Himachal Pradesh CM Inaugurated 1st Tansen Samaroh 2023: 99th World


ever Week-long Shimla Winter Carnival Music Festival held in Gwalior, MP
from 25 Dec 2023 to 5 Jan 2024 Tansen Samaroh 2023, The 99th edition of the
Himachal Pradesh (HP) Chief Minister (CM) annual World Music Festival, is being held in
Sukhvinder Singh Sukhu inaugurated the first- Gwalior, Madhya Pradesh (MP) from 22 to 28
ever week-long winter carnival at its historic December 2023. The festival also includes the
Ridge in Shimla on 25 December 2023. The winter presentation of the Rashtriya Tansen Samman
carnival will last up to 5 January 2024 and aims to Award, to individuals who have made significant
boost the tourism activities in HP. contributions to Hindustani classical music.
✓ Tansen Samaroh 2023 is organized jointly
by Ustad Alauddin Khan Kala Evam Sangeet
Academy and the Department Of Culture,

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Government of MP near the tomb of Tansen J&K Panchayati Raj Act, 1989 Amended
and various venues across Gwalior. to Incorporate OBC Reservation
Jammu and Kashmir (J&K) Administrative
HUDCO Collaborates with Gujarat Govt Council led by Lieutenant Governor(LG) Manoj
to Finance Housing & Urban Sinha amended J&K Panchayati Raj Act, 1989 to
Infrastructure Projects incorporate the definition of Other Backward
The Housing and Urban Development Corporation Classes (OBCs) in the Act to ensure reservation
Limited (HUDCO), has signed a Memorandum of for OBCs in Panchayati Raj Institutions (PRIs).
Understanding (MoU) with Government of Gujarat ✓ For the 1st time, OBCs in J&K will benefit
to invest up to Rs 14,500 crore to boost the overall from reservations for positions such as
development of Gujarat by financing various Sarpanchs and Panchs.
housing and urban infrastructure projects.
Odisha CM Naveen Patnaik Launched
Justice Chandrashekhar Appointed CJ of 3rd phase of BSKY Health Scheme
Jharkhand High Court Odisha Chief Minister (CM) Naveen Patnaik
Droupadi Murmu, the President of India, by launched the 3rd phase of its flagship universal
exercising her powers conferred by Article 223 of health coverage scheme, Biju
the Constitution of India, has appointed Swasthya Kalyan Yojana (BSKY), covering nearly
Shree Chandrashekhar as Chief Justice of the 90% of the population of Odisha.
Jharkhand High Court with effect from 29th Note: In the 1st phase of the BSKY launched in
December 2023. Chandrashekhar replaced Sanjaya 2018, all services in public health facilities were
Kumar Mishra who retired on 28th December made free of cost for all persons, irrespective of
2023. income or residence.

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