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CURRENT AFFAIRS: DAYS
Armed Forces flag Day
- The Armed Forces Flag Day or the Flag Day of India is a day dedicated to India towards collection of funds from people of India for the welfare of the Indian Armed Forces personnel.
- It has been observed annually in India on December 7 since 1949.
- The Indian Armed Forces Flag Day is observed every year to honor the soldiers, airmen and sailors of India who fought on the borders to safeguard the country’s honor
International Civil Aviation Day (ICAD)
- International Civil Aviation Day is celebrated on 7 December to raise awareness about the importance of the role played by the organisation of the International Civil Aviation in air transport.
- The ICAO Council establishes every five years a special anniversary theme for International Civil Aviation Day. And for the full four-year intervening period the council select a single theme.
- The theme of ICAD 2019-2023 is “75 years of connecting the world”.
CURRENT AFFAIRS: NATIONAL
Jal Shakti Minister addresses the 4th India Water Impact Summit
- The Union Minister of Jal Shakti, Shri Gajendra Singh Shekhawat has addressed the 4th India Water Impact Summit 2019 with the theme “Valuing Water Transforming Ganga” held with the focus on integrated water resources management in urban and rural areas.
- Shekhawat also released the report on River Restoration and Conservation – A Concise Manual and Guide, and Documents on “cGanga Hubs”.
- The summit was organized by Ministry of Jal Shakti, Government of India (GoI) and the Centre for Ganga River Basin Management and Studies (cGanga) led by IIT Kanpur.
- The summit hosted the 2ndWater Finance Forum that aims to gathers the global financial institutions and investors on investing in the rejuvenation of the largest environmental programme.
- As per Shekhawat recently, a massive 34-day journey river rafting expedition covered around 2,500 km length called ‘Ganga Aamantran Abhiyan’ was launched from Devprayag on 10th October, 2019 till Ganga Sagar in West Bengal.
- The summit focused to achieve the government’s goal to provide water to every household in the next 5 years & to create new methods and innovative ideas for the significant policy and behavioral shift in managing water resources.
Rural areas in all States, UTs become Open Defecation Free
- Rural areas in all the States and Union Territories have become Open Defecation Free in the country.
- Urban areas of all the States and Union Territories except West Bengal have been declared Open Defecation Free.
- Over 10 crore individual household latrines were constructed under the Swachh Bharat Mission (Gramin).
- Over 60 lakh individual household latrines were constructed under the Swachh Bharat Mission (Urban).
Government approves 7 projects to strengthen FM coverage along Indo- Nepal border
- The government has approved seven projects for setting up FM transmitters in the premises of Sashastra Seema Bal (SSB) to strengthen FM coverage along the Indo-Nepal border.
- These 7 projects will set up inBihar (Bathnaha village of Araria district, Narkatiaganj town in West Champaran district, and Sitamarhi district), Uttar Pradesh-UP (Gadaniya village in Lakhimpur Kheri district , Nanpara town in Bahraich district ,and Maharajganj district) , Uttarakhand (Champawat district).
15th Finance Commission submits its report for FY21 to FM Sitharaman
- The Finance Commission on Friday submitted its report for the financial year 2020-21 to Finance Minister Nirmala Sitharaman.
- The panel, headed by N K Singh.
- The 15th Finance Commission was constituted by the President of India under Article 280 of the Constitution on November 27, 2017, to make recommendations for a period of five years from April 2020 to March 2025.
CURRENT AFFAIRS: STATES
Punjab government launches ESTAC programme for startups
- Punjab Chief Minister Amarinder Singh launched Enable Startup Track Acceleration (ESTAC) programme during Progressive Punjab Investors Summit-2019, with an aim to foster entrepreneurship and innovation in the state.
- ESTAC is a series of startup acceleration programmes created through a strategic partnership between the state government (Start-up Punjab Cell) and AIC, Indian School of Business, Mohali.
- The programme focuses on supporting technology-led, scalable and investible growth stage startups in areas of government-enabled and private sector driven businesses.
- The first of the series of ESTAC programme focuses on agri-tech startups, while the subsequent ones will relate to e-mobility, grain procurement, electric metering and other agricultural innovations.
- It will be a six-month programme commencing from March 1, 2020. Ten selected startups will be given the opportunity to participate in the ESTAC programme and secure pilot projects with the government of Punjab.
Prez Kovind lays foundation stone for Paika Rebellion memorial in Odisha
- In Odisha, President Ram Nath Kovind laid the foundation stone for a memorial to mark completion of 200 years of Paika Rebellion, a valiant uprising of Paikas in 1817 against the British Rule which is often termed as the First War of Independence.
- The proposed project will come up at the foothills of Barunei hills in Khurda district. The memorial is seen as an epitome of Odisha’s valour and will serve as an inspiration for the youth.
- The Paika Rebellion memorial which will come up in 10 acres of land will be a source of inspiration for the youths and generations to come.
CURRENT AFFAIRS: BANKING AND FINANCE
RBI tightens norms for ARCs to acquire financial assets
- The Reserve Bank of India (RBI) tightened norms for asset reconstruction companies (ARCs), restricting them from buying financial assets from their sponsor firms and lenders on a bilateral basis. However, the regulator has allowed the ARCs to participate in auctions of such assets.
- They (ARCs) may participate in auctions of the financial assets provided such auctions are conducted in a transparent manner, on arm’s length basis and the prices are determined by market forces.
- According to the new rules, ARCs cannot acquire financial assets from a bank or financial institution, which is the sponsor of the ARC, on a bilateral basis.
- RBI also stopped ARCs to buy financial assets from a bank or financial institution, which is either a lender to the ARC or a subscriber to the fund raised by the ARC for its operations and an entity in the group to which the ARC belongs.
NEFT money transfer facility to be available from Dec16
- Bank customers will be able to transfer funds round-the-clock through the National Electronic Funds Transfer (NEFT) system from 16 December.
- This means you will be able to send and receive money anytime. The NEFT payment system so far is available for customers from 8 am to 7 pm on all working days, except the second and fourth Saturdays of the month.
- This direction was issued by RBI under Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007).
Canada’s CPPIB to invest up to $600 million in Indian infrastructure fund
- Canada Pension Plan Investment Board (CPPIB), the biggest public pension fund in Canada, is investing up to $600 million in India’s National Investment and Infrastructure Fund (NIIF), as it seeks to grow its infrastructure bets in Asia’s third-largest economy.
- The deal includes a commitment of $150 million in NIIF’s Master Fund and co-investment rights of up to $450 million in future opportunities to invest alongside the Master Fund.
- The NIIF is majority-owned by institutional investors, but says is anchored by India’s government, which is also an investor in its Master Fund.
- India needs investments worth about $778 billion for highways, urban transport and renewable energy by 2022, according to the India Brand Equity Foundation, a government body.
RBI Guidelines for ‘on tap’ Licensing of Small Finance Banks in Private Sector
- The Reserve Bank of India released on its website, “Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector”.
- Major changes from the earlier Guidelines on Small Finance Banks are
- The licensing window will be open on-tap
- minimum paid-up voting equity capital / net worth requirement shall be ₹ 200 crore;
- for Primary (Urban) Co-operative Banks (UCBs), desirous of voluntarily transiting into Small Finance Banks (SFBs) initial requirement of net worth shall be at ₹ 100 crore, which will have to be increased to ₹ 200 crore within five years from the date of commencement of business. Incidentally, the net-worth of all SFBs currently in operation is in excess of ₹ 200 crore;
- SFBs will be given scheduled bank status immediately upon commencement of operations;
- SFBs will have general permission to open banking outlets from the date of commencement of operations;
- Payments Banks can apply for conversion into SFB after five years of operations, if they are otherwise eligible as per these guidelines.
CURRENT AFFAIRS: SUMMITS AND CONFERENCE
7th OPEC and non-OPEC ministerial meeting in Vienna
- The 7th edition of the OPEC (Organization of the Petroleum Exporting Countries) and non-OPEC Ministerial Meeting was held in Vienna, Austria.
- The meeting was held under the Co-Chairmanship of OPEC’s President, Manuel Salvador Quevedo Fernandez, People’s Minister of Petroleum of the Bolivarian Republic of Venezuela, and Alexander Novak, Minister of Energy of the Russian Federation.
- The oil producing countries decided to cut oil production by 500,000 barrels per day with effect from January 1, 2020. This has been done to stem the pressure on prices from abundant reserves and weak global economic growth.
CURRENT AFFAIRS: AWARDS AND HONOURS
South Africa’s Zozibini Tunzi crowned Miss Universe 2019
- South Africa’s Zozibini Tunzi is the Miss Universe 2019.
- Zozibini and Miss Universe Puerto Rico Madison Anderson were the top two contestants for the Miss Universe title.
- Miss Universe Mexico is the second-runner up.
- 26-year-old Zozibini Tunzi is from Tsolo, South Africa. She is quite active in fight against gender based violence.
CURRENT AFFAIRS: APPOINTMENTS AND RESIGNATION
Girish Chandra Chaturvedi to succeed Ashok Chawla as NSE chairman
- Girish Chandra Chaturvedi, the former petroleum secretary, was appointed chairman of the National Stock Exchange (NSE).
- The chairman’s post was vacant since January, following Ashok Chawla’s resignation.
- Chaturvedi has been a civil servant. He also serves as non-executive chairman of ICICI Bank.
CURRENT AFFAIRS: RANKING
Andaman & Nicobar police station adjudged country’s best
- A police station on Andaman & Nicobar Islands has been adjudged as the country’s best performing police station out of 15,579 police stations for the year 2019.
- The Aberdeen police station in Andaman district tops the list of the country”s top 10 police stations released by the government of India.
- Police stations in Gujarat and Madhya Pradesh have bagged the second and third spots, respectively, on the list. With a police station figuring at second position and another at the 10th position, Madhya Pradesh enjoys the distinction of having two police stations in this year’s top 10 list.
- Police stations located in Tamil Nadu, Arunachal Pradesh, Delhi, Rajasthan, Telangana and Rajasthan have also made it to the top 10 list for 2019. Majority of the police stations are located in rural areas and small towns.
India ranks 129 in UN’s human development index
- India climbed one spot to 129 among 189 countries in the 2019 human development index, according to a report released by the United Nations Development Programme (UNDP).
- In 2018, India’s human development index (HDI) value of 0.647 had put it at 130 rank.
- In India, 27.1 crore people were lifted out of poverty from 2005-06 to 2015-16
Finland’s Sanna Marin to become world’s youngest prime minister at 34
- Sanna Marin, Finland’s 34-year-old transportation minister, will also become the country’s youngest ever prime minister.
- Marin narrowly won a vote among Social Democrat lawmakers, and replaces outgoing Prime Minister Antti Rinne, who resigned after coalition partner the Centre Party said it had lost confidence in him over his handling of a postal workers’ strike.
- Marin rose through the ranks after leading the city council of her industrial hometown Tampere when she was 27
CURRENT AFFAIRS: SPORTS
Former World No. 1 Caroline Wozniacki to Retire After 2020 Australian Open
- Caroline Wozniacki former World No.1 tennis player announced her retirement from tennis after next month’s Australian Open, the first Grand Slam tournament of the year 2019 and WTA (Women’s Tennis Association) event in Auckland.
- Since 2009, Wozniacki has consistently ranked in the top 10. She held the No. 1 spot from 2010 to 2012 and most recently occupied the top spot after winning the 2018 Australian Open. Wozniacki is ranked 37th in the world.
Indian junior women’s team wins 3-nation hockey tournament
- The Indian junior women’s team won the three-nation hockey tournament even though they lost to Australia 1-2 in the final game at Canberra.
- The Indian eves finished top on the point table, with seven points from four matches. They were ahead of the hosts, Australia on goal difference. New Zealand finished third, with only three points from their four matches.
National Schools Chess Championship
- Shashini Puvi from Karnataka has won the coveted gold medal in the recently held National Schools Chess Championship in Aurangabad.
- Mumbai girl Myrah Sachdev has bagged the silver medal in the championship.
- Six-year-old Myrah is now tipped to officially represent India in the Asian and World Schools Chess Championships that are scheduled to be held next year.
CURRENT AFFAIRS: OBITUARY
Former India coach Bhawani Mukherji passes away
- Former India table tennis head coach Bhawani Mukherji passed away. He was suffering from a stomach ailment.
- The first Dronacharya awardee in table tennis. He joined the National Institute of Sports (NIS) Patiala in the mid-1970s after obtaining diploma in coaching.
Former Odisha minister Bhagabat Mohanty passes away
- Former Odisha Minister Bhagabat Prasad Mohanty passed away following cardiac arrest.
- Mohanty was elected to the state Assembly in 1971 as Praja Socialist Party (PSP) candidate and in 1985 and 1995 as a Congress nominee.