Daily Current Affairs December 13th 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

Axis Bank forecasts India’s Gross domestic product growth to reach 7% in FY26   

• Axis Bank predicts India’s Gross domestic product (GDP) growth will rise to 7% in FY26.
• The growth will be driven by a reboot in the capex cycle, back-ended fiscal spending in FY25, reduction in cash reserve ratio (CRR), and potential macroeconomic easing to stimulate credit growth.

Key Highlights :

• Current Fiscal Year Outlook (FY25):The bank expects GDP growth in FY25 to be 6.6%.
• Average CPI inflation is projected to ease to 4.5% in the next fiscal (FY26), down from 4.8% in FY25.
• Factors Affecting Economic Growth:The slowdown in H1 FY25 is largely attributed to unintended fiscal and credit tightening.
• A combination of higher fiscal spending and a CRR cut could ease growth challenges in the near term.
• Global Growth and US Policy:Global growth is expected to show stability, but uncertainty about US policy post-January 20, 2025, may affect global trade dynamics.
• The new US president’s policy changes in areas like trade, taxes, regulations, immigration, and energy will be crucial for future economic forecasts.
• Trade tariffs may disrupt global trade growth, but fiscal deficits, exchange rates, and industrial policies are also significant factors in global trade dynamics.

About Axis Bank :

• Founded : 3 December 1993
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Amitabh Chaudhry

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%.
• Reasons for Downward Revision:The downward revision is attributed to lower-than-expected growth in private investment and housing demand.
• Growth in Q2 FY2024-25 decelerated to 5.4% from 8.2% in Q2 FY2023-24, driven by:
  • Weak industrial output.
  • Tighter prudential norms by the RBI affecting unsecured personal loans.
  • Muted public capital spending.
  • Elevated food prices.

Key Highlights :

• Sectoral Performance:Industrial growth was lower than expected at 3.6%.
• Growth in agriculture and services sectors remained strong at 3.5% and 7.1%, respectively.
• Positive Growth Drivers:The agriculture sector is expected to remain strong, supported by the summer (kharif) crop season, which is likely to reduce food prices.
• The services sector continues to show resilience.
• Lower-than-expected Brent crude prices in 2024 and 2025 could also provide support to economic growth.
• Outlook for FY2025:The growth forecast for FY2025 has been revised slightly downward to 7% from 7.2% due to weak private investment and housing demand, impacted by tight monetary policy aimed at controlling inflation.
• Downside Risks:The report highlighted downside risks including:
  • Geopolitical threats to supply chains.
  • Adverse weather conditions that could affect growth.

About ADB : 

• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa

Life Insurance Corporation of India Aims for At Least 5 Times the Business Measured by Stipend Paid to a ‘Bima Sakhi’   

• The Life Insurance Corporation of India (LIC) expects a minimum of five times the business (measured by stipend paid to a ‘Bima Sakhi’) through this initiative aimed at empowering women by training them as insurance agents.
• The scheme aims to enroll at least 1 lakh women by December 2025, with a total target of 2 lakh women over three years.

Key Highlights :

• Funding for the Scheme:₹840 crore has been allocated for the first year of the scheme.
• Targets for Bima Sakhis:Each Bima Sakhi will have a target to sell at least two policies every month, equating to 24 policies annually.
• Post-Training Opportunities:After completing 3 years of training, a Bima Sakhi is eligible for the position of Development Officer, provided she clears an examination and holds a graduate degree.
• Panchayat Representation:At least one Bima Sakhi will be deployed in every Panchayat.
• Eligibility Criteria:Relatives of existing agents and employees, as well as retired employees, are not eligible for the scheme.
• Relatives include: spouse, children (adopted/step), parents, siblings, and immediate in-laws.
• Income Potential:An LIC agent earns an average monthly income of ₹15,000, translating to an annual income of over ₹1.75 lakh for Bima Sakhis.
• Gender Diversity in the Insurance Sector:Currently, 28% of LIC agents are women.
• The Bima Sakhi scheme aims to increase women’s participation in the insurance industry.
• Ineligibility for Reappointment:Retired employees or former agents seeking reappointment are not eligible for the scheme, nor can existing agents apply.
• PM Modi’s Role:Prime Minister Narendra Modi laid the foundation stone for the Main campus of Maharana Pratap Horticultural University in Karnal during the event.

About LIC :

• Founded : 1 September 1956
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Siddhartha Mohanty

MobiKwik Lowers IPO Size to ₹572 Crore Amid Market Volatility and Regulatory Scrutiny  

• MobiKwik has reduced its Initial Public Offering (IPO) size from ₹700 crore to ₹572 crore due to volatile market conditions and increased regulatory scrutiny of fintech players.
• IPO Price Band:The IPO price band is set at ₹265-279 per share.
• Subscription Period:The IPO will open for subscription on December 11, 2024, and close on December 13, 2024.
• Use of Proceeds:The proceeds from the IPO will be utilized for:
  • Funding organic growth in its merchant-focused financial services business.
  • Enhancing its consumer-focused payments business.
  • Investments in AI/ML initiatives.

About MobiKwik :

• Founded : April 2009
• Headquarters : Gurgaon, Haryana, India
• Founders : Bipin Preet Singh & Upasana Taku.

World Bank to Support Kerala Farmers in Adapting to Climate Change   

• The World Bank has approved a $200 million project to help Kerala farmers adapt to climate change and promote agri-entrepreneurship.
• The project is called the Kerala Climate Resilient AgriValue Chain Modernization (KERA) Project.
• The project will benefit approximately 400,000 farmers in Kerala.

Key Highlights :

• Climate-Smart Practices: The project aims to promote climate-smart agricultural practices, including:
• Replanting climate-resilient varieties of coffee, cardamom, and rubber.
• Expanding “food parks” in rural areas to support agri-businesses.
• Infrastructure in Food Parks: These parks will provide key infrastructure such as water, power, and waste management for agri-businesses focused on food processing and value-added products.
• Farmer-Agribusiness Alliances: The project will foster alliances between farmer groups and agribusinesses to improve the link between producers and buyers, with public sector support.
• Support for Agri-Tech Startups: The project will assist the incubation of agri-tech startups, facilitating innovation in the sector.
• Women-Led SMEs: At least $9 million in commercial finance will be leveraged, benefiting women-led Small and Medium Enterprises (SMEs).
• Private Sector Investment: The project aims to infuse private sector investment into agricultural value chains, benefiting farmers and SMEs.

About World Bank :

• Established : July 7, 1944
• Headquarters : Washington, D.C., United States
• President : Ajay Banga

Karnataka Bank unveils ‘Retail Assets Centre’ in Bengaluru  

• Karnataka Bank has launched its first ‘Retail Assets Centre’ (RAC) in JP Nagara, Bengaluru, to streamline the bank’s retail loan processing.
• The RAC serves as a centralized hub for various retail loan processes, including:Business coordination, Credit underwriting, Credit sanctions, Credit operations, Disbursements, Post-disbursement services
• Objective: The RAC is aimed at catering to the growing demand for retail loan products and improving operational efficiency.

Key Highlights :

Benefits for Channel Partners:

• Easier access and interface for submitting loan applications.
• Faster processing times.
• Ability to track applications through closure.
• A dedicated service point for all queries.
• Expansion Plans: Karnataka Bank plans to extend the RAC to additional locations to serve customers across the country.
• Focus on Retail and MSME Loans: The RAC will initially focus on housing and mortgage loans but will also include MSME loans in the future.
• Physical and Digital Touchpoints: Both physical and digital touchpoints will be provided for a comprehensive service experience for customers and channel partners.

About Karnataka Bank :

• Founded : 18 February 1924
• Headquarters : Mangalore, Karnataka, India
• MD & CEO : Srikrishnan Hari Hara Sarma
• Tagline : Your Family Bank Across India

CURRENT AFFAIRS: NATIONAL NEWS

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.

Highlights of RRII 417

1. Unique Traits:
   • Cold endurance for better performance in low-temperature climates.
   • High dry rubber content and biomass production.
   • Low disease incidence and high timber yield.
2. Growth and Yield:
   • 80% of trees achieved tapping girth within seven years during field trials.
   • Estimated yield: 2,080 kg of dry rubber per hectare annually.
   • Average yield during trials: 5.2 kg of dry rubber per tree annually.
3. Decades of Research:
   • RRII 417 was developed after 25 years of evaluations across multiple locations in the Northeast.

Impact on Rubber Cultivation in the Northeast

1. Enhanced Cultivation Options:
   • The release of RRII 417 provides growers with three indigenous clones, expanding their cultivation choices.
2. Regional Significance:
   • The Northeast contributes 30% of India’s rubber cultivation area and 17% of the national production.
   • Challenges in the region include low winter temperatures, uneven rainfall, and degraded soils. RRII 417 addresses these limitations.

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.

India to Roll Out 5G Mobile Connectivity at Airports

• India is poised to introduce 5G mobile connectivity at airports, a transformative step aimed at enhancing passenger services and operational efficiency.
• The initiative reflects the government’s broader vision to integrate next-generation technology into public infrastructure.

Key Highlights

1. Approval After Safety Assessments
   • Deployment follows rigorous safety evaluations and consultations with stakeholders, including:
     • Ministry of Civil Aviation
     • Ministry of Telecommunications
     • Ministry of Defence
   • Concerns Addressed: Initial delays arose due to fears of interference with aircraft altimeters, crucial for altitude measurement.
   • Solution: Installation of new-generation altimeters and successful trials paved the way for approval.
2. Phased Rollout
   • The rollout will commence at major international airports, including:
     • Delhi
     • Mumbai
     • Bengaluru
     • Chennai
   • Telecom providers and airport operators are setting up the necessary infrastructure.
3. Enhanced Passenger Services
   • Real-time luggage tracking.
   • Seamless check-in processes.
   • Enhanced passenger information systems.
   • Faster and more reliable internet connectivity.
4. Boosting Operational Efficiency
   • Facilitates integration of advanced technologies for better airport management.
   • Improves communication and data handling for airlines and airport authorities.

CURRENT AFFAIRS : INTERNATIONAL NEWS

External Affairs Minister S Jaishankar visits Qatar and Bahrain to strengthen bilateral relations and discuss investments   

• External Affairs Minister S. Jaishankar visited Qatar and Bahrain from December 6-9, 2024, to strengthen bilateral ties and discuss various sectors such as trade, investments, and security.

Visit to Qatar:

• Jaishankar attended the 22nd Doha Forum and participated in a panel on “Conflict Resolution in a New Era.”
• He discussed the impact of conflicts in West Asia and Ukraine on regional shipping and trade.
• Bilateral talks were held with Qatari Prime Minister Mohammed bin Abdulrahman Al Thani, focusing on strengthening ties between the two nations.
• Meetings also took place with Qatar’s Minister of Commerce and Industry and Minister of State, covering various areas of cooperation.

Visit to Bahrain:

• Jaishankar co-chaired the 4th India-Bahrain High Joint Commission (HJC) with Bahrain’s Foreign Minister Abdullatif bin Rashid Al Zayani.
• They reviewed bilateral relations in sectors like trade, investments, energy, healthcare, tourism, and security.
• New areas of cooperation discussed included space, education, Fintech, and technology.
• He met Deputy Prime Minister Khalid bin Abdulla Al Khalifa to explore further avenues of cooperation.
• Regional Cooperation:Jaishankar addressed the 20th IISS Manama Dialogue at the Concluding Plenary Session, sharing India’s views on regional strategic cooperation and reaffirming India’s commitment to regional security and stability.
• Indian Community:He interacted with the Indian community in Bahrain and visited the Shreenathji Temple in Manama, underlining the importance of India’s cultural ties in the region.

About Qatar :

• Prime Minister : Mohammed bin Abdulrahman
• Capital : Doha
• Currency : Qatari riyal

About Bahrain :

• Crown Prince and Prime Minister : Salman bin Hamad Al Khalifa
• Capital : Manama
• Currency : Bahraini dinar (BHD)

CURRENT AFFAIRS : STATE NEWS

Kerala Tourism Unveils Multilingual Microsite and E-Brochure for Sabarimala   

• Kerala Tourism launched a multi-language microsite and e-brochure aimed at providing comprehensive information about the Sabarimala temple.
• The microsite was launched by State Tourism Minister P.A. Mohamed Riyas on December 10, 2024.

Key Highlights :

• Multilingual Microsite:The microsite is available in 5 languages: English, Hindi, Telugu, Tamil, and Kannada.
• It provides detailed information about the temple’s traditions, customs, culture, and geographical insights.
• The site includes short footage with detailed information about the hill shrine.
• Purpose and Features:The microsite aims to make the pilgrimage easy and simple for pilgrims.
• It includes information about the Sabarimala temple, its customs and traditions, and latest updates.
• Features include a route map, hotel facilities near temples, and a dedicated gallery with hundreds of pictures related to Sabarimala.
• E-Brochure:The e-brochure serves as a virtual travel guide offering essential details for planning the pilgrimage.
• It provides information on places to stay, contact numbers for authorities, and a pilgrim guide that covers customs, traditions, and history of Sabarimala.
• The e-brochure is designed for access on smartphones and can be shared with others.
• Importance of the Initiative:The microsite and e-brochure are seen as vital steps in promoting pilgrim tourism.
• The initiative highlights Kerala’s efforts to integrate heritage and historical temples into tourism, especially as pilgrim tourism gains global prominence.
• The state government aims to offer a comfortable and seamless pilgrimage experience for visitors.

About Kerala:

• Capital: Thiruvananthapuram
• Chief Minister: Pinarayi Vijayan
• Governor: Arif Mohammad Khan
• National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park, Silent Valley National Park, Indira Gandhi National Park

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

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.
• He is supported by the coalition that overthrew Assad’s regime, which has left Syria deeply divided and in poverty.
• Bashar al-Assad, the former President of Syria, fled to Moscow after being ousted by rebel forces led by Abu Mohammed al-Jolani.
• The rebels have vowed to pursue those responsible for war crimes and torture during the Assad regime.

About Mohammad al-Bashir:

• Born in 1983 in Jabal al-Zawiya, Idlib, which was previously controlled by Hayat Tahrir al-Sham (HTS) and its allies.
• Prior to politics, al-Bashir worked for Syria’s state gas company.
• He was the head of the Salvation Government (SG), a governing body for rebel-held areas in Idlib established in 2017.
• Under his leadership, SG provided public services in Aleppo, including restoring electricity and telecommunications.

About Syria :

• Capital : Damascus
• Currency : Syrian pound

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Reserve Bank of India Approves Burman Family’s Open Offer to Acquire Additional 26% Stake in Religare Enterprises Limited   

• The Reserve Bank of India (RBI) has approved the open offer by the Burman family, the promoters of Dabur, to acquire an additional 26% stake in Religare Enterprises Limited (REL).
• Burman Family Entities: The open offer is for four Burman family entities:

1. Puran Associates
2. VIC Enterprises
3. M B Finmart
4. Milky Investment & Trading Company

• Objective: The Burman family’s goal is to increase their stake in REL, a Non-Banking Financial Company (NBFC).
• Consolidation Requirement: RBI has advised that the Burman family and Religare group must consolidate their NBFCs in the resulting structure by March 31, 2026, at the latest.
• Current Ownership: As of September 30, 2024, the Burman family, through the four entities, collectively holds a 25.12% stake in REL.
• Regulatory Framework: RBI’s approval comes under its regulatory framework for shareholding in financial institutions and aims at maintaining proper corporate structure and compliance.

About Religare Enterprises Limited ;

• Headquarters : New Delhi, India
• Chairperson : Rashmi Saluja
• REL is an Indian investment and financial services holding company.

Paytm subsidiary to divest stock acquisition rights in Japan’s PayPay for ₹2,300 crore   

• One97 Communications (OCL), the owner of Paytm, is selling its 5.4% shareholding in Japan’s PayPay to SoftBank Vision Fund 2 for ₹2,364 crore (~$280 million).
• The transaction values PayPay at approximately $3.8 billion (₹32,000 crore).
• Background of PayPay:PayPay was founded in June 2018 as a joint venture between SoftBank Corp, Yahoo Japan Corporation, and Paytm (as the technology partner).
• Paytm’s Singapore-based arm acquired Stock Acquisition Rights (SARs) for 1,59,012 shares (~7.2% fully diluted stake) in exchange for technology services provided to PayPay.
• Strategic Sale:Paytm Singapore’s Board of Directors approved the sale of SARs on December 6, 2024.
• The sale will generate net proceeds of JPY 41.9 billion (~₹2,364 crore).
• Completion Timeline:The transaction is expected to conclude in December 2024.

CURRENT AFFAIRS: AWARDS AND HONOURS

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.
• Selection: A committee chaired by eminent litterateur Ramji Tiwari selected the winner.

About “Kaun Des Ko Vasi: Venu Ki Diary”

• Themes:
  • Explores the ideological and cultural struggles faced by Indian youth who view America as a land of opportunities.
  • Delves into the temptations, challenges, and cultural conflicts experienced while settling abroad.
  • Highlights spiritual and cultural alienation, where individuals neither reconnect with their roots nor establish belonging in a foreign land.
• Insightful Reflection:
  • Suryabala draws on her personal experiences and observations of living abroad to present an authentic portrayal of the overseas Indian psyche.
  • Through multidimensional characters, she examines the condition and direction of Indians living abroad, offering a critical lens on cultural and identity shifts.

About Suryabala

• Birth: 1943, Varanasi, Uttar Pradesh.
• Education:
  • MA in Hindi Literature from Kashi Vishwavidyalaya.
  • PhD in Hindi Literature.
• Literary Contributions:
  • Authored over 50 novels, biographies, and children’s books.
  • Several works adapted into television serials.
• Writing Style:
  • Known for exploring human emotions, cultural conflicts, and social challenges with depth and authenticity.

About KK Birla Foundation and Other Awards

The KK Birla Foundation also confers the following awards:

1. Saraswati Samman

• Awarded For: Outstanding literary works in any Schedule VIII language of the Constitution of India.
• Prize Money: ₹15 lakh.

2. Bihari Puraskar

• Awarded For: Literary works in Hindi or Rajasthani by authors from Rajasthan.

CURRENT AFFAIRS: RANKING AND INDEX

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.

Indian Universities in QS Sustainability Rankings 2025

Key Highlights:

• IIT Delhi climbed an impressive 255 places from last year’s 426th rank.
• IIT Kharagpur and IIT Bombay ranked 202nd and 234th globally, improving by 147 and 69 places, respectively.
• Among the 78 Indian universities, 21 are new entrants, and nine of the top 10 institutions showed notable improvements.

Top 10 Indian Institutions:

Global Leaders in Sustainability Rankings

Top 10 Global Institutions:

Global Leader Spotlight:

• University of Toronto: Achieved the top spot globally with 91 points in Environmental Sustainability and 98.5 points in Environmental Research.

QS Sustainability Rankings Methodology

The QS Sustainability Rankings evaluate universities based on their environmental and social impact, covering three primary categories:

1. Environmental Impact
2. Social Impact
3. Governance

India’s Remarkable Achievement in Malaria Reduction: WHO Report 2024

• According to the WHO World Malaria Report 2024, India has emerged as a leader in reducing malaria cases and deaths, contributing significantly to the decline in malaria across the WHO South-East Asia Region.

Key Achievements in India

1. Decline in Malaria Cases and Incidence:
   • Malaria cases dropped by 17.7 million from 2000 to 2023.
   • Incidence reduced by 93%, from 20 cases to 1.5 cases per 1,000 at-risk people.
2. Mortality Reduction:
   • Malaria deaths in India decreased by 68% between 2017 and 2023.
3. Exit from High-Burden Group:
   • India exited the High Burden to High Impact (HBHI) group by 2024 due to sustained progress.

Regional Overview

• The South-East Asia Region reported 4 million malaria cases in 2023, contributing to 1.5% of the global burden.
• India accounted for 50% of the region’s malaria cases, followed by Indonesia (~33%).
• Despite progress, India accounted for 88% of malaria deaths in the region, alongside Indonesia.

Global Malaria Burden (2023)

• Global Distribution:
  • 29 out of 83 endemic countries accounted for 95% of global cases and 96% of deaths.
  • Nigeria (25.9%), the Democratic Republic of Congo (12.6%), and others dominate the global burden.
• Major Death Contributors:
  • Four countries—Nigeria (30.9%), the Democratic Republic of Congo (11.3%), Niger (5.9%), and Tanzania (4.3%)—accounted for over half of global malaria deaths.

Efforts Driving Malaria Reduction in India

1. Community Health Initiatives:
   • Women health workers in remote areas played a pivotal role by addressing cultural barriers and improving healthcare access.
2. Preventive Measures:
   • Distribution of 1.1 million insecticide-treated mosquito nets (ITNs) and widespread indoor residual spraying (IRS).
3. WHO Support:
   • The HBHI initiative (2018–2024) provided targeted interventions.
   • Lessons from India’s control of Anopheles stephensi, a vector in urban malaria, were shared globally.
4. Innovations in Vaccination:
   • WHO’s approval of the R21/Matrix-M vaccine in 2023 complemented the existing RTS,S vaccine to protect high-risk children.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Google and Andhra Pradesh Join Forces to Propel AI Development in Visakhapatnam

• Chief Minister N. Chandrababu Naidu announced a landmark partnership between Google and the Andhra Pradesh Government, aimed at fostering artificial intelligence (AI) initiatives in Visakhapatnam.
• This collaboration is set to transform the port city into a global technology and service hub.

Highlights of the Partnership

1. Strategic MoU:
   • The Memorandum of Understanding (MoU) was a result of discussions held during IT Minister Nara Lokesh’s recent visit to the United States, where he engaged with Google executives.
   • The partnership signifies Google’s recognition of Visakhapatnam’s potential as an emerging tech hub.
2. Focus Areas:
   • Establishing data centers.
   • Advancing AI, machine learning (ML), and deep technology.
   • Developing internet sea cables, enhancing global connectivity.
3. Survey and Site Selection:
   • A Google delegation visited Visakhapatnam to assess its infrastructure and resources, expressing optimism about the city’s prospects.
4. Economic and Employment Impact:
   • The collaboration is expected to create new job opportunities and elevate Visakhapatnam’s strategic importance on the global map.

Government’s Vision

• Chief Minister Naidu’s Remarks:
  • He termed the partnership a “game changer” for the city and credited Andhra Pradesh’s business-friendly policies for attracting such high-profile investments.
  • Naidu emphasized how strategic collaborations with global leaders like Google could accelerate the state’s economic and digital transformation.
• Google’s India Strategy:
  • The partnership aligns with Google’s broader objectives to strengthen its footprint in India, a rapidly growing digital economy.

CURRENT AFFAIRS: SPORTS NEWS

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.

1. Concerns Raised by Some Nations:
   • Norway abstained due to concerns about FIFA’s bidding process.
   • Switzerland approved the Saudi bid but demanded human rights monitoring by FIFA and the International Labour Organization.
   • Denmark supported the bids but criticized the lack of competing proposals and called for human rights oversight.

Saudi Arabia’s Role and Controversies

• Saudi Arabia has faced criticism for “sportswashing,” using major sporting events to improve its image amid concerns about human rights and its environmental record.
• Of the 15 stadiums proposed for 2034, only four are currently built.

Global Perspectives on Hosting

1. 2030 Hosts – A Historic Collaboration:
   • Spain, Portugal, and Morocco’s joint bid highlights cross-continental cooperation.
   • Centenary matches in South America celebrate the tournament’s rich history.
2. 2034 Saudi Arabia Bid – Opportunities and Challenges:
   • Hosting the World Cup is part of Saudi Arabia’s broader ambitions to be a global sporting hub.
   • Human rights and labor practices will remain under scrutiny, as demanded by several nations.

CURRENT AFFAIRS : OBITUARIES

S M Krishna, former Karnataka CM and visionary behind ‘Brand Bengaluru,’ passed away   

• S M Krishna, former Chief Minister of Karnataka, passed away at the age of 92.

About S M Krishna :

• Krishna had a political career spanning nearly six decades.
• He was first elected as a member of the Karnataka Assembly in 1962 as an independent candidate and later joined the Praja Socialist Party, before moving to the Congress in 1967.
• He hailed from the Vokkaliga community and was affectionately known as the “Oxford Gowda” for his polished demeanor and suave communication skills.
• He was a prominent political figure who served as the Chief Minister of Karnataka from 1999 to 2004.
• He was also Maharashtra’s Governor and the External Affairs Minister in the second UPA cabinet (2009-2012).
• He was elected to various political offices including Member of Legislative Assembly (MLA), Member of Legislative Council (MLC), and both Lok Sabha and Rajya Sabha at different points in his career.
• He represented the Mandya constituency in the Lok Sabha and Rajya Sabha multiple times.
• He encouraged investment from global industries and set up a task force to involve industry leaders like Nandan Nilekani and Kiran Mazumdar Shaw.
• As CM, he initiated the Panchajanya Yatra, leading Congress to a significant victory in the 1999 Karnataka Assembly elections.
• His tenure saw the launch of Bengaluru’s first flyover and other infrastructure developments.
• His tenure was marked by controversies, including the Abdul Karim Telgi scam, land scams, and the Cauvery water dispute with Tamil Nadu.
• After his tenure as CM, Krishna was appointed as Governor of Maharashtra and later served as the External Affairs Minister under UPA 2.0.

Awards & Recognition:

• Krishna was awarded the Padma Vibhushan, India’s second-highest civilian honor.
• He was also a Fulbright scholar and had a strong educational background in law.

Award-winning U.S. poet Nikki Giovanni Passed away  

• Nikki Giovanni, the charismatic and iconoclastic poet, activist, children’s book author and professor who wrote, irresistibly and sensuously, about race, politics, gender, sex and love, passed away in Blacksburg at the age of 81.

About Nikki Giovanni :

• Giovanni was a leading figure in the Black Arts Movement, which flourished between 1965 and 1974, alongside other notable figures like Maya Angelou, James Baldwin, and Audre Lorde.

Famous Works:

• Giovanni is best known for her poems ‘Knoxville, Tennessee’ and ‘Nikki-Rosa’.
• Her writing often focused on civil rights, race issues, and gender, reflecting her own experiences growing up in Tennessee and Ohio.
• She was considered one of the most prolific African-American poets and played a significant role in Black culture and the Civil Rights Movement.
• She taught creative writing and literature at Virginia Tech, influencing generations of students, artists, activists, and scholars.
• Giovanni’s work and life continue to inspire generations of writers, artists, and activists. Poet Kwame Alexander praised her for the unconditional time she gave to others and her influence on the literary world.

Awards and Recognition:

• She received numerous awards, including the NAACP Image Award, the Rosa Parks Award, and the Langston Hughes Award for her contributions to the arts.
• Giovanni was also nominated for a Grammy for Best Spoken Word Album for The Nikki Giovanni Poetry Collection in 2004.

CURRENT AFFAIRS: IMPORTANT DAYS

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.”

What is Neutrality?

Neutrality is a legal and diplomatic status that a nation adopts by abstaining from participating in wars or conflicts between other states. It is characterized by:

• Impartiality: Maintaining an unbiased attitude towards warring parties.
• Peace Promotion: Supporting conflict resolution without aligning with any side.
• Sovereignty Preservation: Ensuring the nation’s autonomy and stability during global disputes.

Historical Context

Turkmenistan’s Role

• Turkmenistan, a Central Asian nation, was recognized by the United Nations as a permanently neutral state in December 1995.
• This status served as a model for the global recognition of neutrality.

UN Proclamation

• On February 2, 2017, the United Nations General Assembly (UNGA) adopted Turkmenistan’s proposal to establish the International Day of Neutrality.
• The day was first observed on December 12, 2017, aligning neutrality with the principles of the 2030 Agenda for Sustainable Development.

Daily CA One- Liner: December 13

• 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.
• India is poised to introduce 5G mobile connectivity at airports, a transformative step aimed at enhancing passenger services and operational efficiency
• 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
• The QS World University Rankings Sustainability 2025 were released, showcasing universities’ global and environmental contributions
• According to the WHO World Malaria Report 2024, India has emerged as a leader in reducing malaria cases and deaths, contributing significantly to the decline in malaria across the WHO South-East Asia Region
• Chief Minister N. Chandrababu Naidu announced a landmark partnership between Google and the Andhra Pradesh Government, aimed at fostering artificial intelligence (AI) initiatives in Visakhapatnam
• The 2030 FIFA World Cup will be jointly hosted by Spain, Portugal, and Morocco.
• 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.
• Axis Bank predicts India’s Gross domestic product (GDP) growth will rise to 7% in FY26.
• 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 Life Insurance Corporation of India (LIC) expects a minimum of five times the business (measured by stipend paid to a ‘Bima Sakhi’) through this initiative aimed at empowering women by training them as insurance agents.
• MobiKwik has reduced its Initial Public Offering (IPO) size from ₹700 crore to ₹572 crore due to volatile market conditions and increased regulatory scrutiny of fintech players.
• The World Bank has approved a $200 million project to help Kerala farmers adapt to climate change and promote agri-entrepreneurship.
• Karnataka Bank has launched its first ‘Retail Assets Centre’ (RAC) in JP Nagara, Bengaluru, to streamline the bank’s retail loan processing.
• External Affairs Minister S. Jaishankar visited Qatar and Bahrain from December 6-9, 2024, to strengthen bilateral ties and discuss various sectors such as trade, investments, and security.
• Kerala Tourism launched a multi-language microsite and e-brochure aimed at providing comprehensive information about the Sabarimala temple.
• Mohammad al-Bashir was appointed as the transitional Prime Minister of Syria following the collapse of the Bashar al-Assad regime.
• The Reserve Bank of India (RBI) has approved the open offer by the Burman family, the promoters of Dabur, to acquire an additional 26% stake in Religare Enterprises Limited (REL).
• One97 Communications (OCL), the owner of Paytm, is selling its 5.4% shareholding in Japan’s PayPay to SoftBank Vision Fund 2 for ₹2,364 crore (~$280 million).
• S M Krishna, former Chief Minister of Karnataka, passed away at the age of 92.
• Nikki Giovanni, the charismatic and iconoclastic poet, activist, children’s book author and professor who wrote, irresistibly and sensuously, about race, politics, gender, sex and love, passed away in Blacksburg at the age of 81.

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