Foreign direct investment Inflows to India Exceed $1 Trillion, Overseas Investment Expected to Rise in FY25

  • India’s Foreign Direct Investment (FDI) inflows crossed the $1 trillion mark from April 2000 to September 2024, solidifying its status as a key global investment destination.
  • FDI plays a crucial role in infrastructure development, maintaining the balance of payments, and stabilizing the value of the rupee.
  • It is also vital for boosting economic growth.
  • As of September 2024, cumulative FDI, including equity, reinvested earnings, and other capital, stood at $1,033.40 billion.

 Key Highlights :

FDI Sources:

The major sources of FDI include:

  • Mauritius (25% of total FDI)
  • Singapore (24%)
  • United States (10%)
  • Netherlands (7%)
  • Japan (6%)
  • United Kingdom (5%)
  • UAE (3%)

 

 

Bihar Government to Organize Ambassadors' Meeting in New Delhi

  • The Bihar government will host the “Bihar Business Connect 2024 Ambassadors’ Meet” on December 9, 2024 in New Delhi to promote its investor-friendly policies and ease of doing business.
  • The event is aimed at attracting investments in sectors like textiles, leather, and food processing.
  • Key Officials: The event will be inaugurated by Samrat Chaudhary, Deputy Chief Minister and Finance Minister of Bihar.
  • International Participation: Ambassadors and senior officials from countries like the US, Russia, and Japan have been invited.
  • The aim is to showcase the state's progress in creating an investment-friendly environment and encouraging industrial growth.
  • Upcoming Events: This meeting is part of the ‘Bihar Business Connect 2024 Global Investors’ Summit to be held in Patna on December 19-20, 2024.
  • The summit aims to attract more investment proposals than the ₹50,000 crore received in the 2023 edition.
  • Past Achievements: In the 2023 edition, 278 companies signed MoUs for a proposed investment of ₹50,500 crore

 

 

Prime Minister Modi Inaugurates Rising Rajasthan Global Investment Summit 2024

  • Prime Minister Narendra Modi inaugurated the Rising Rajasthan Global Investment Summit 2024 and the Rajasthan Global Business Expo at the Jaipur Exhibition and Convention Centre in Jaipur, Rajasthan.
  • The summit, themed “Replete, Responsible, Ready”, aims to boost investments and highlight Rajasthan's growing potential in various sectors.
  • PM Modi emphasized “Perform, Transform, and Reform” as key drivers of India's progress.

 

 

CII Recommends Prudent Fiscal Deficit Targets for Sustained Economic Growth

  • The Confederation of Indian Industry (CII) has recommended that the government adhere to fiscal deficit targets of 4.9% of GDP for 2024-25 and 4.5% for 2025-26 in the upcoming Union Budget 202425, cautioning against overly aggressive targets that might hinder economic growth.
  • Highlighting the importance of fiscal discipline for macroeconomic stability, CII emphasized that maintaining the fiscal deficit at manageable levels is crucial to sustaining India's rapid growth amidst global economic slowdowns.
  • CII proposed a medium-term goal of reducing the central government’s debt to below 50% of GDP by 2030-31 and a longerterm goal of below 40%.

 

 

Google Play's Best of 2024 Awards: India Shines with AI and Gaming Innovations

  • Google Play has announced its Best of 2024 awards for India, recognizing significant mobile app and game innovations, particularly in the artificial intelligence (AI) and gaming sectors.
  • Best App and Best for Fun awards were won by Alle, an AI-powered fashion styling app. Alle provides personalized fashion advice based on users' body type, facial features, and occasions.
  • Squad Busters won Best Game for its multiplayer experience, reflecting India's growing mobile gaming audience.
  • SuperGaming’s Indus Battle Royale earned Best Made in India for the second consecutive year.
  • Battlegrounds Mobile India (BGMI) claimed the Best Ongoing category for its regular updates and India-centric content.

Other Notable Winners:

  • WhatsApp Messenger was named Best Multi-device App.
  • Headlyne won Best for Personal Growth.
  • Sony LIV was recognized for being Best for Large Screens.
  • Clash of Clans was awarded Best Multi-device Game.
  • Bloom claimed Best Indie Game, while Cookie Run: Tower of Adventures won Best for Google Play Games on PC.

 

 

Donald Trump Appoints Jared Isaacman as NASA Chief to Oversee Moon Missions

  • United States (US) President-elect Donald Trump appointed Jared Isaacman, a billionaire entrepreneur and space enthusiast, as his choice to lead NASA.
  • Isaacman’s Role at NASA: As NASA’s chief, Isaacman will manage NASA’s $25 billion budget and oversee major projects, including the Artemis program, which is focused on returning astronauts to the Moon

 

 

Lando Norris Wins Abu Dhabi GP and Secures McLaren's First Constructors' Title Since 1998

  • Lando Norris triumphed at the Abu Dhabi Grand Prix capping off an extraordinary Formula One season by clinching the Constructors' Championship for McLaren.
  • This marks McLaren’s first such victory since 1998, edging out rivals Ferrari in a nail-biting finale.

 

Human Rights Day: 10th December

  • Human Rights Day 2024 is observed on the 10th of December 2024.
  • The theme for Human Rights Day 2024 is 'Equality for All: Reducing Inequality and Advancing Human Rights.'

 

Nobel Prize Day: 10th December

  • Nobel Prize Day 2024 is observed on the 10th of December 2024.
  • Alfred Nobel's father was an engineer himself and Alfred Nobel expressed early interest in engineering, and explosives in particular.
  • Alfred Nobel died on 10 December 1896, in Sanremo, Italy, at his very last residence, Villa Nobel, overlooking the Mediterranean Sea.

 

 

Reserve Bank of India Increases Collateral-Free Agricultural Loan Limit to ₹2 Lakh per Borrower

  • The Reserve Bank of India (RBI) has raised the limit for collateral free agriculture loans from ₹1.6 lakh to ₹2 lakh per borrower.
  • This decision is in response to inflation and rising agricultural input costs.
  • Objective: The revision aims to enhance the coverage of small and marginal farmers in the formal credit system.
  • The limit was previously increased from ₹1 lakh to ₹1.6 lakh in 2019.

 

 

PM POSHAN Scheme: Enhanced Nutrition and Support for Students

  • The PM POSHAN Scheme, a centrally sponsored initiative by the Government of India, continues to play a pivotal role in providing nutritional support to students in Government and Government-aided schools.
  • Under the scheme, hot-cooked meals are served to 70 crore students in Balvatika (preschool level) and classes I to VIII across 10.24 lakh schools.

Key Features of the Scheme

 Objective

  • Nutritional Support: Ensure adequate nutrition for students.
  • Enhancing Participation: Increase school attendance and retention rates.

Meal Components

The Material Cost covers the procurement of essential ingredients required to prepare meals. The following quantities are allocated per student, per meal:

Ingredients Balvatika & Primary Upper Primary

Pulses 20 gm 30 gm

Vegetables 50 gm 75 gm

Oil 5 gm 7.5 gm

Spices & Condiments As per need

Fuel As per need 

 

 

Coffee Plantations Exempted from SARFAESI Act Provisions

  • The Indian government has clarified that the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act will not apply to coffee plantations for loan recoveries.
  • The announcement came in a written response by Minister of Commerce, Piyush Goyal, to a question raised in Parliament by Udupi-Chikamagalur MP Kota Srinivas Poojary.

Highlights of the Clarification

  • Legal Protection for Coffee Growers:
  • The government unequivocally stated that coffee crops are excluded from the SARFAESI Act's purview. • This provides significant relief to coffee growers, who faced the risk of losing their plantations to banks invoking the Act for loan recoveries.
  • Grower Associations Welcome Decision:
  • The Coorg Planters Association (CPA) and the Karnataka Growers Federation (KGF) issued a joint statement appreciating the move.
  • They urged banking institutions to respect this clarification and refrain from using SARFAESI provisions against coffee plantations

 

 

Tamil Nadu Assembly Passes Resolution Opposing Tungsten Mining in Madurai

  • The Tamil Nadu Legislative Assembly adopted a resolution on December 9, 2024, urging the Union government to cancel the tungsten mining rights granted to Hindustan Zinc Limited in Nayakkarpatti village, Melur taluk, Madurai district.
  • State's Objection: The Tamil Nadu government alleged that the Union government ignored the State’s objections during the auction of mining rights for critical and strategic minerals.
  • The proposed mining site in Arittapatti was declared a Biodiversity Heritage Site in 2022.

About Tamil Nadu :

  • Governor: R. N. Ravi
  • Chief minister: M. K. Stalin
  • Capital: Chennai
  • Dance : Bharatnatyam, Karakattam

 

 

INS Tushil (F 70) commissioned into the Indian Navy by Raksha Mantri Shri Rajnath Singh at Yantar Shipyard in Kaliningrad, Russia

  • INS Tushil, a multi-role stealth-guided missile frigate, was commissioned into the Indian Navy on December 9, 2024, at Yantar Shipyard in Kaliningrad, Russia.
  • The event was attended by Indian Defence Minister Rajnath Singh, highlighting the growing maritime strength of India and the deep, longstanding ties between India and Russia.
  • Rajnath Singh emphasized the importance of the ship as a symbol of India’s journey towards technological excellence and collaboration with Russia.
  • INS Tushil is an upgraded Krivak III class frigate of the Project 1135.6 of which, six are already in service.
  • INS Tushil, the seventh in the series, is the first of the two upgraded additional follow-on ships, the contract for which was signed in October 2016.

 

 

Union Government Appoints Revenue Secretary Sanjay Malhotra as Reserve Bank of India Governor

  • Sanjay Malhotra has been appointed as the 26th Governor of the Reserve Bank of India (RBI).
  • The announcement was made on December 9, 2024, a day before Shaktikanta Das’s six-year term ends on December 10, 2024.
  • Malhotra will assume office amid ongoing economic challenges, including persistent inflation and a slowdown in growth.
  • His first major task will be the monetary policy review from February 5 to 7, 2025, where he will focus on balancing growth and inflation.

 

 

UNICEF Foundation Day: 11th December

  • UNICEF Foundation Day 2024 is observed on the 11th of December 2024.
  • UNICEF was created by the N. Relief Rehabilitation Administration in 1946 to provide relief funds for children and mothers affected by World War II with immediate aid.

International Mountain Day: 11th December

  • International Mountain Day 2024 is observed on the 11th of December 2024.
  • The United Nations General Assembly declared the International Year of Mountains in 2002.

 

 

All India Bank Employees’ Association proposes a 3-year ban on account openings for customers who assault bank branch staff

  • The All India Bank Employees’ Association (AIBEA) has urged the Indian Banks’ Association (IBA) to blacklist customers who attack or abuse bank staff, closing their accounts and preventing them from opening new accounts for at least 3 years.
  • AIBEA expressed concern over recent incidents where bank staff were physically assaulted and verbally abused by customers.
  • They emphasized that staff are working to earn a living, not to be victims of such attacks.
  • The attacks include both physical assaults and instances of abusive language directed at bank staff, including female employees.

About AIBEA :

  • Founded : 20 April 1946
  • Headquarters : Chennai, Tamil Nadu
  • President : Rajen Nagar

 

 

S&P Global Maintains FY25 Growth Projection at 6.8%

  • S&P Global retained India’s GDP growth forecast for FY24-25 at 6.8%, despite the RBI’s reduction to 6.6%.
  • India’s economy grew by 8.2% in FY 2023-24.
  • GDP growth slowed to 5.4% in Q2 (July-September) of FY24, prompting a revision of growth projections by various agencies.
  • The Indian government remains hopeful for improved growth for the full fiscal year, dismissing Q2 growth as a one-off occurrence.

 

 

India to Launch ‘One Nation, One Subscription’ Initiative for Research Access

  • Starting January 1, 2025, around 8 crore students from state-funded higher education institutions (HEIs), including universities and IITs, will gain access to research papers from leading global journals under the government’s ‘One Nation, One Subscription’ (ONOS) initiative.

Key Features of the ONOS Initiative

  • Access to Global Journals:
  • In the first phase, over 13,400 international journals from renowned publishers like Elsevier, Springer Nature, and Wiley will be available to students, researchers, and faculty.
  • Disciplines covered include science, technology, engineering, mathematics (STEM), medicine, social sciences, management, and humanities.

 

 

Prime Minister Narendra Modi Releases Compendium of Subramania Bharati's Works

  • Prime Minister Narendra Modi unveiled the complete works of the legendary Tamil poet, freedom fighter, and visionary Subramania Bharati at 7, Lok Kalyan Marg, New Delhi.
  • The event marked a significant tribute to Bharati on his birth anniversary, celebrating his unparalleled contributions to Indian literature, culture, and the freedom movement.

Highlights of the Event

  • Release of the 23-Volume Set:
  • Titled “Kaala Varisaiyil Bharati Padaippugal,” the compendium spans 23 volumes compiled over six decades by Seeni Vishwanathan, with publication by Alliance Publishers.

 

 

Indian Ecologist Madhav Gadgil Honored as UNEP Champion of the Earth 2024

  • Renowned Indian ecologist Madhav Gadgil has been named one of the six Champions of the Earth for 2024 by the United Nations Environment Programme (UNEP).
  • This prestigious accolade is the UN's highest environmental honor, awarded in recognition of Gadgil's lifetime achievement in protecting ecosystems and empowering communities.

Key Highlights of Madhav Gadgil's Work

  • Western Ghats Advocacy:
  • Gadgil is celebrated for his groundbreaking work in safeguarding the ecologically fragile Western Ghats, a UNESCO World Heritage site.
  • His influential Gadgil Report (2011) highlighted the risks of unchecked development in this vital region, advocating eco-sensitive zones to restrict environmentally hazardous activities.

Apart from Madhav Gadgil, the other Champions of the Earth for 2024 include:

  • Sonia Guajajara (Brazil): Minister of Indigenous Peoples.
  • Amy Bowers Cordalis (USA): Environmental leader.
  • Gabriel Paun (Romania): Conservationist.
  • Lu Qi (China): Environmental advocate.
  • SEKEM (Egypt): Organization for sustainable agriculture initiatives.

UNEP’s Champions of the Earth

  • Established in 2005, this annual award honors individuals, groups, and organizations that have had transformative environmental impacts.

 

 

Shaji N Karun: Honored with JC Daniel Award 2023 for Lifetime Contributions to Malayalam Cinema

  • Renowned filmmaker Shaji N Karun has been awarded the JC Daniel Award 2023, the highest honor in Kerala cinema, for his extraordinary lifetime contributions to Malayalam cinema.
  • This recognition celebrates his pivotal role in shaping new-wave cinema and bringing Malayalam films to international acclaim.

JC Daniel Award 2023

  • Award Details:
  • Includes a purse of ₹5 lakh, a citation, and a statuette.
  • Presented annually by the Kerala State Government to honor lifetime contributions to cinema.

 

 

Indian Institute of Spices Research introduces Surasa, a new variety of ginger

  • IISR Surasa is a new ginger variety developed by the ICAR – Indian Institute of Spices Research (IISR) through a farmers participatory breeding programme.
  • The original rhizome of Surasa was discovered in Kodancherry, Kozhikode by farmer John Joseph.
  • The research and development took over six years of testing and trials in various regions.

 

 

Indian Institute of Technology Madras Unveils World’s Most Detailed 3D High-Resolution Images of Human Fetal Brain

  • Indian Institute of Technology Madras (IIT Madras) became the first research organization globally to release the most detailed 3D highresolution images of the fetal brain.
  • A total of 5,132 brain sections were captured digitally using advanced brain mapping technology developed by the Sudha Gopalakrishnan Brain Centre at IIT Madras.
  • The data offers 0.5-micron accuracy and allows analysis at the cellular level.
  • The dataset generated provides significant insights into neurodevelopmental disorders and advances in fetal medicine.
  • Cost and Collaboration: The research was completed at less than 1/10th of the costs of similar studies in Western countries.

 

 

WTA Player Awards 2024: Aryna Sabalenka and Others Honored

  • Aryna Sabalenka, the 26-year-old Belarusian tennis star, received the prestigious WTA Player of the Year award for 2024.
  • Achievements:
  • Won two Grand Slam titles: Australian Open (January) and U.S. Open (September).
  • Secured the No. 1 spot in the WTA rankings in October, overtaking Iga Swiatek.

Most Improved Player: Emma Navarro

Comeback Player of the Year: Paula Badosa

Newcomer of the Year: Lulu Sun

Doubles Team of the Year: Sara Errani and Jasmine Paolini

 

 

Universal Health Coverage Day: 12th December

  • Universal Health Coverage Day 2024 is observed on the 12th of December 2024.
  • This year's theme, “Health: It's on the government”, underscores the role governments play in ensuring that no one is forced to choose between health care and necessities such as food

Asian Development Bank Revises India’s GDP Growth Forecast for FY2024-25 to 6.5%, Down from 7%

  • The Asian Development Bank (ADB) has revised India’s GDP growth forecast for FY2024-25 to 6.5%, a reduction of 50 basis points from the previous projection of 7%.
  • The new forecast is lower than the RBI's estimate of 6.6% and at the lowest end of the government's projected range of 6.5%-7%.

 

 

Rubber Research Institute of India Unveils GM Rubber Clone RRII 417 for Northeast

  • In a significant stride for the INROAD project, the Rubber Research Institute of India (RRII), Kottayam, has introduced a genetically modified (GM) rubber clone—RRII 417—tailored specifically for the climatic conditions of India’s Northeast region.
  • This development aims to expand rubber cultivation across 2 lakh hectares in the region.

INROAD Project Goals.

The INROAD project focuses on:

  • Establishing rubber plantations over 2 lakh hectares in the Northeast.
  • Boosting rubber production while overcoming climatic and soil fertility challenges.

 

 

Mohammad Al-Bashir: Engineer and Gas Company Veteran Appointed as Syria's New Prime Minister

  • Mohammad al-Bashir was appointed as the transitional Prime Minister of Syria following the collapse of the Bashar al-Assad regime.
  • He will lead the interim government until March 1, 2025, tasked with bringing stability to a war-torn Syria after 13 years of civil conflict.

About Syria :

  • Capital : Damascus
  • Currency : Syrian pound

 

 

Suryabala's "Kaun Des Ko Vasi: Venu Ki Diary" Wins the 34th Vyas Samman 2024

  • Renowned Hindi writer Suryabala has been awarded the prestigious 34th Vyas Samman for her novel "Kaun Des Ko Vasi: Venu Ki Diary", published in 2018.
  • Instituted by the KK Birla Foundation in 1991, the award honours outstanding Hindi literary works by Indian citizens published in the last 10 years.

About the Vyas Samman

  • Instituted: 1991
  • Eligibility: Outstanding Hindi literary work published in the past 10 years by an Indian citizen.
  • Prize Details: ₹4 lakh cash award, a citation, and a plaque.

 

 

IIT Delhi Tops Indian Institutions in QS Sustainability Rankings 2025

  • The QS World University Rankings Sustainability 2025 were released, showcasing universities' global and environmental contributions.
  • IIT Delhi emerged as the highest-ranked Indian institution, holding the 171st global position and achieving an 81.1 percentile in Environmental Sustainability.

IIT Delhi (Indian Rank- 1 ,Global Rank- 171)

IIT kharagpur (Indian Rank- 2 ,Global Rank- 202)

IIT Bombay (Indian Rank- 3 ,Global Rank- 234)

Global Ranks

  1. University of Toronto
  2. ETH Zurich
  3. Lund University

 

 

FIFA Confirms Hosts for 2030 and 2034 Men's Football World Cups

  • The 2030 FIFA World Cup will be jointly hosted by Spain, Portugal, and Morocco.
  • To commemorate the tournament's 100th anniversary, three matches will be played in Argentina, Paraguay, and Uruguay, where the first World Cup took place in 1930.

2034 World Cup: Saudi Arabia

  • Saudi Arabia has been awarded hosting rights for the 2034 World Cup, marking a significant milestone in the country's growing role in global sports.

 

 

International Day of Neutrality: December 12

  • The International Day of Neutrality, celebrated annually on December 12, is dedicated to promoting global peace, sovereignty, and the resolution of conflicts through diplomatic and impartial means.
  • THEME: “Promoting neutrality as an instrument of preventive diplomacy.”

World Bank Chief Economist Gill Urges India to Accelerate Structural Reforms

  • India is better positioned than many of its peers to handle global challenges but needs to accelerate structural reforms.
  • World Bank Chief Economist Indermit Gill stressed that India must speed up necessary structural changes to address inefficiencies and improve institutional resilience.

 

 

Uber Launches 'Moto Women' in Bengaluru for Women-Only Bike Rides

  • Uber has introduced a new service in Bengaluru called Uber Moto Women, designed to offer women a safer, more comfortable commuting option by connecting female riders with female drivers.

Key Features of Uber Moto Women

  • Women-Only Rides
  • Exclusively connects female riders with female drivers to address safety concerns and promote gender comfort.

 

 

Donald Trump Named Time Magazine's 2024 Person of the Year

  • Time magazine has named Donald Trump its Person of the Year for 2024, marking the second time the former and now re-elected U.S. President has received the honor.
  • This recognition celebrates his historic political comeback, his transformative role in American politics, and his impact on the global stage.

 

 

D Gukesh Becomes Youngest World Chess Champion

  • Indian Grandmaster D Gukesh, aged 18, has made history by defeating reigning champion Ding Liren to become the youngest World Chess Champion.
  • The milestone was achieved on December 12, 2024, during the World Chess Championship in Singapore.

Key Highlights

  • Victory Details
  • Gukesh clinched the title by scoring 7.5 points over Ding Liren's 6.5 points in the 14-game classical match.
  • Gukesh surpasses Garry Kasparov, who held the record for the youngest World Chess Champion, winning at 22 years old in 1985.
  • He becomes the second Indian World Chess Champion, following the legendary Viswanathan Anand, who won his last title in 2013.

 

 

National Energy Conservation Day: 14th December

  • National Energy Conservation Day 2024 is observed on the 14th of December 2024.
  • National Energy Conservation Day was first observed on December 14th, 1991 by the Bureau of Energy Efficiency BEE, under the Union Ministry of Power which falls under the government of India.

 

CARE Ratings Lowers India's FY25 Gross Domestic Product Growth Forecast to 6.5%

  • CARE Ratings revised India's gross domestic product (GDP) growth forecast for FY25 to 6.5% from the earlier estimate of 6.8%.

 

 

India Strengthens Artillery and High-Altitude Combat Capabilities

  • The Cabinet Committee on Security (CCS) has approved the acquisition of 100 additional K-9 Vajra self-propelled howitzer guns from Larsen & Toubro (L&T), along with progress on Zorawar light tank trials.
  • This reflects India's focus on bolstering its firepower and mobility in challenging terrains.
  • The K-9 Vajra guns have been successfully deployed in Ladakh during the 2020 standoff with China.
  • These versatile systems enhance India’s readiness for high-altitude combat and rapid firepower deployment.

 

 

New Consumer Complaints Platform to Revolutionize Grievance Redressal

  • The Department of Consumer Affairs is set to launch a “futureready” consumer grievance redressal platform featuring the eJagriti app and an updated portal.
  • This initiative, aimed at enhancing accessibility and efficiency in resolving consumer complaints, will be unveiled on National Consumer Day, 24 December 2024.

Key Highlights

  • User-Friendly Experience:

The new system will allow consumers to:

  • File complaints online.
  • Attend hearings virtually.

 

 

Switzerland Suspends Most Favoured Nation Clause in Double Taxation Agreement with India

  • Switzerland has suspended the Most Favoured Nation (MFN) clause in the Double Taxation Avoidance Agreement (DTAA) with India.
  • Effective from January 1, 2025, Indian companies operating in Switzerland will face a higher tax rate of 10% on dividends, up from the earlier 5%.
  • Reason for Suspension:The decision follows a 2023 Supreme Court of India ruling that the MFN clause does not automatically apply when a country joins the OECD unless a notification under Section 90 of the Income Tax Act is issued.

About Switzerland :

  • Capital : Bern
  • Currency : Swiss franc

 

 

France's Macron Appoints Veteran Centrist Francois Bayrou as Prime Minister

  • French President Emmanuel Macron appointed Francois Bayrou, a centrist ally, as Prime Minister on December 13, 2024, after a historic parliamentary vote ousted the previous government.

About France :

  • Capital : Paris
  • Currency : Euro

 

 

Chennai-Based Space Startup Space Kidz Plans All-Women Lunar Mission with Global Students by 2026

  • Space Kidz, a Chennai-based space startup, is planning an all-women scientific lunar mission targeting September 2026.
  • The mission will involve girl students from classes 8 and 9 across 108 countries working alongside Space Kidz's team.
  • The satellite will have a payload of 80 kg, including an orbiter, lander, and propulsion module, with a goal of crash-landing on the moon’s surface.
  • If successful, it will be the first private player from India to conduct a mission to the lunar surface.
  • This follows the success of Space Kidz’s previous mission, AzaadiSat, in February 2023, where a satellite made by 750 girls was launched by ISRO.

Key Highlights :

  • Collaboration and Partnerships:The mission, named ShakthiSAT, will involve collaboration with global players and educational institutions, aiming to train 12,000 girls in satellite technology.
  • IN-SPACe (Indian National Space Promotion and Authorization Center) is supporting the mission for academic assistance.

 

 

Google partners with National Council of Educational Research and Training to enhance access to quality education across India

  • Tech giant Google announced a partnership with the National Council of Educational Research and Training (NCERT) to bring quality education to far corners of India.

Key Highlights :

  • YouTube Channels for Education : As part of the partnership, NCERT will launch multiple YouTube channels that are aligned to the curriculum of grades 1 to 12, over the coming months.
  • The channels, covering 29 Indian languages, including Indian Sign Language, will offer educational content in engaging and accessible formats, empowering students, parents, and teachers across the country.

About Google :

  • Founded : September 4, 1998
  • Headquarters : California, United States
  • CEO : Sundar Pichai

About NCERT :

  • Founded : 1 September 1961
  • Location : Delhi, India
  • Director : Dr. Dinesh Prasad Saklani
  • It is an autonomous organisation of the Ministry of Education, the Government of India

 

 

Group insolvency provisions expected to be included in the Insolvency and Bankruptcy Code amendment bill

  • ABill to amend the Insolvency and Bankruptcy Code (IBC) is set to be presented during the Budget session of Parliament.
  • The amendment may introduce "group insolvency" norms to streamline insolvency proceedings involving multiple companies under common management or ownership.

Key Highlights :

  • Need for Group Insolvency Norms:Group insolvency refers to cases where multiple companies facing insolvency issues are part of the same group, and a default by one company can trigger insolvency for others.
  • There is a need to codify group insolvency norms to:
  • Increase value maximisation of assets.
  • Reduce the workload of National Company Law Tribunals (NCLTs).
  • Improve cost efficiency in handling such cases.
  • Role of IBBI and NCLTs:IBBI Chairman Ravi Mittal highlighted the need to formally introduce group insolvency norms.
  • Several cases have been resolved by National Company Law Tribunals (NCLTs), but formal codification of these norms is needed.
  • Landmark Cases in Group Insolvency:Videocon Insolvency (2021), Amrapali Group etc.

About IBBI :

  • Formed : 1 October 2016
  • Headquarters : New Delhi, India

 

 

Vijay Diwas: 16th December

  • Vijay Diwas 2024 is observed on the 16th of December 2024.
  • Vijay Diwas is celebrated for the remembrance of the victory of the Indian Armed Forces in ‘Operation: Vijay’ against the infiltrating Pakistani troops.

India's First Diabetes Biobank Launched in Chennai

  • India has established its first diabetes biobank in Chennai, a collaborative effort between the Indian Council of Medical Research (ICMR) and the Madras Diabetes Research Foundation (MDRF).
  • This state-of-the-art facility aims to advance diabetes research by collecting, processing, and storing biological samples for in-depth studies into the causes, patterns, and related complications of the disease.

What This Means for India

  • The establishment of this biobank is a significant step forward in combating the growing diabetes burden in India, a country with one of the highest diabetes populations in the world.

 

 

Northern Coalfields Limited (NCL) Launches CHARAK Project for Free Healthcare

  • Northern Coalfields Limited (NCL), under the Ministry of Coal, has introduced the CHARAK project to provide free medical treatment to economically disadvantaged individuals in Singrauli (Madhya Pradesh) and Sonbhadra (Uttar Pradesh).
  • The initiative reflects NCL’s dedication to enhancing the socio-economic conditions of coalfield regions, specifically addressing life-threatening diseases among low-income families.

Key Features of the CHARAK Project

  • Target Beneficiaries:
  • Families with annual incomes below ₹8 lakh residing in Singrauli and Sonbhadra.

 

 

Nupi Lal Numit 2024: Honoring Manipuri Women’s Bravery and Resilience

  • Manipur recently observed Nupi Lal Numit 2024 to honour the courageous women who played pivotal roles in the Nupi Lal uprisings of 1904 and 1939. Historical Significance of the Nupi Lal Uprisings
  • First Uprising (1904):

Women protested against British-imposed forced labor, demanding justice and asserting their rights.

  • Second Uprising (1939):

Women fought against economic exploitation by colonial powers, particularly the manipulation of rice prices, which led to famine-like conditions.

  • These uprisings showcased the leadership and unity of Manipuri women, paving the way for significant social and political reforms.

 

 

Goa to Honour Liberation Martyrs’ Families with ₹10 Lakh

  • In a historic initiative, the Goa government has decided to recognize the supreme sacrifices made by the martyrs of Goa’s Liberation struggle, becoming the first state in India to do so.
  • As part of this gesture, the families of 14 martyrs will be awarded ₹10 lakh each as a token of gratitude.

Key Highlights of the Initiative

  • Monetary Benefit for Martyrs' Families:
  • The families of 14 Liberation martyrs will receive ₹10 lakh each.
  • The compensation is a first-of-its-kind gesture by a state government in India.
  • Goa was a Portuguese colony for over 450 years, and its Liberation struggle spanned from the mid-19th century to 1961.
  • Many Goans sacrificed their lives for the cause of freedom, fighting against Portuguese colonial forces.

 

 

Shaheen Shah Afridi Makes History: Youngest to 100 Wickets in All Formats

  • Shaheen Shah Afridi has achieved a historic milestone by becoming the youngest bowler to take 100 wickets across Tests, ODIs, and T20Is, cementing his place in cricketing history.
  • Afridi, aged 24 years and 248 days, accomplished this during the first T20I against South Africa, where he delivered an outstanding performance despite Pakistan’s narrow loss.

 

 

Legendary tabla maestro Ustad Zakir Hussain Passed away

  • Ustad Zakir Hussain, the legendary tabla maestro, passed away on December 15, 2024, at the age of 73 in San Francisco.

About Ustad Zakir Hussain :

  • Born on March 9, 1951, in Mumbai, India, Zakir Hussain was the eldest son of Ustad Alla Rakha, another legendary tabla player.

Notable Achievements:

  • He won four Grammy Awards, including three awards at the 66th Grammy Awards in 2024, in the categories of Global Music Performance, Contemporary Instrumental Album, and Instrumental Composition.
  • He received numerous awards, including Padma Shri (1988), Padma Bhushan (2002), Padma Vibhushan (2023), Sangeet Natak Akademi Award, and USA's National Heritage Fellowship.