Daily Current Affairs December 14th 2024 | Latest News | Download PDF

By Ameena Ameena - Dec 14 2024

This post is also available in: हिन्दी (Hindi)

Dear Readers, get to know the daily current affairs today covering all the National & International Events provided here in this article. Current Affairs is an important topic in various competitive exams like IBPS/SBI/PO/Clerk and other competitive exams. To score better in this section, be updated with the daily happenings. Check the Daily Current Affairs February 2024 updates here. Revision is very important in remembering current affairs. Candidates after learning the Daily current affairs Dec 14th 2024, can test their knowledge by attempting Current Affairs Quiz provided with answers. Daily current affairs Dec 14th 2024 covers current affairs from International & National news, Important Days, State News, Banking & Economy, Business News, Appointments & Resignation, Awards & Honour, Books & Authors, Sports News, etc.,

Daily Current Affairs PDF of December 14th 2024

Get More: Static GK Pdfs

CURRENT AFFAIRS : BANKING & FINANCE

Public Sector Banks GNPA Drops Sharply from 14.58% in Mar-18 to 3.12% in Sep-24  

  • The Government has been proactively supporting the banking ecosystem and taking care of both business and employee welfare to maintain stability, transparency, and growth.
  • Over the past decade, multiple citizen-and-staff-centric reformative initiatives have been taken by the Government in this direction.

Key Highlights :

  1. Asset Quality Review (AQR):
  • RBI initiated AQR in 2015 to address stress in the banking system, reclassifying stressed accounts as Non-Performing Assets (NPAs).
  • NPAs peaked in 2018, significantly affecting bank finances.
  1. Government’s 4R Strategy:
  • Recognizing NPAs, Resolution and Recovery, Recapitalizing PSBs, and Reforms in the financial system.
  • This strategy has improved PSBs’ financial health, leading to:
    • Improvement in Asset Quality: PSBs’ Gross NPA ratio decreased from 4.97% in March 2015 to 3.12% in September 2024 (from a peak of 14.58% in March 2018).
    • Capital Adequacy: CRAR (Capital to Risk-Weighted Assets Ratio) improved by 393 bps, reaching 15.43% in Sep 2024 from 11.45% in Mar 2015.
  1. PSB Profitability:
  • PSBs reported the highest-ever net profit of ₹1.41 lakh crore in FY 2023-24 (up from ₹1.05 lakh crore in FY 2022-23).
  • Dividend payments: PSBs paid a total dividend of ₹61,964 crore over the last three years.
  1. Financial Inclusion:
  • Jan Dhan Accounts: 54 crore accounts opened.
  • Collateral-Free Loans: Over 52 crore loans sanctioned under schemes like PM Mudra, Stand-Up India, PM-SVANidhi, and PM Vishwakarma, with women beneficiaries constituting significant portions (68% under Mudra, 44% under PM-SVANidhi).
  • Bank Branches: The number of bank branches increased from 1,17,990 in Mar 2014 to 1,60,501 in Sep 2024, with over 1,00,000 branches in rural and semi-urban areas.
  1. Kisan Credit Card (KCC):
  • Total operative KCC accounts as of Sep 2024: 7.71 crore, with an outstanding of ₹9.88 lakh crore.
  1. MSME Sector Support:
  • MSME advances grew at a CAGR of 15% over the last 3 years, reaching ₹28.04 lakh crore by Mar 2024.
  1. Credit Growth:
  • Scheduled Commercial Banks’ gross advances grew significantly, reaching ₹175 lakh crore in March 2024.

HR Policies and Welfare Measures for PSB Employees:

  1. Transfer Policies:
  • Aiming for greater transparency, PSBs have developed a uniform transfer policy.
  • Women employees are given priority for postings close to their homes, with additional grounds for transfer such as marriage, maternity, and medical reasons.
  1. Welfare Measures for PSB Employees:
  • 12th Bipartite Settlement:
    • Bank employees received a 17% increase in salary and allowances (₹12,449 crore).
    • New pay scales, revised DA/DR calculations, and improved travel allowances.
    • Special leave provisions for women employees, including for menstrual periods, infertility treatment, and second child adoption.
  1. Pension and Ex-Gratia:
  • Ex-Gratia for Pre-1986 Retirees: Increased to ₹10,000 per month for retirees and their families (total additional cost: ₹4.73 crore annually).
  • DA Neutralization: 100% DA neutralization provided to pre-2002 retirees, benefiting 1.81 lakh retirees with an additional cost of ₹631 crore per year.
  • Pension Option for Resignees: Approximately 3,198 bank retirees can now opt for pension.
  1. Staff Welfare Fund (SWF):
  • SWF allocation was increased from ₹540 crore to ₹845 crore annually, benefiting 15 lakh staff (including retirees) across 12 PSBs.

Finance Ministry requests approval for over ₹44,000 crore additional expenditure in FY25, no major impact on fiscal deficit expected  

  • The Finance Ministry seeks approval for over ₹44,000 crore in additional cash expenditure through the first Supplementary Demands for Grants (SDG).
  • Supplementary Demands for Grants (SDG): The SDG, presented in the Lok Sabha, seeks to cover the additional expenditure for the current financial year (CFY) that wasn’t anticipated in the annual financial statement.
  • Total Additional Expenditure: The gross additional expenditure proposed amounts to ₹87,762.56 crore, of which ₹44,142.87 crore is net cash outgo, and ₹43,618.43 crore is matched by savings or increased receipts from various Ministries.
  • Fiscal Deficit Target Unaffected:Despite the additional expenditure, the fiscal deficit target of 4.9% of GDP for FY2024-25 remains unchanged.
  • Growth in revenue receipts (8.7%) exceeds expenditure growth (3.3%) between April and October, reducing borrowing requirements.

Key Allocations in Net Cash Outgo:

  • Agriculture & Farmers Welfare Ministry: Over ₹7,600 crore allocated.
    • PM-Kisan Scheme: ₹3,100 crore; provides ₹6,000 per year in three instalments to landholding farmers.
    • Agriculture Census 2015: Reports 14.65 crore operational holdings.
  • Fertilizer Subsidy: ₹7,310 crore under P&K Fertilizers Subsidy Scheme, with a net cash outgo of ₹6,593.73 crore after savings adjustments.
  • Supplementary Demands for Grants (SDG):Enabled under Article 115 of the Constitution to authorize additional expenditure or new services.
  • Includes token provision of ₹126 lakh for re-appropriation of savings for new services.
  • Budget Context:Total budgeted expenditure for FY2024-25: ₹48.21 lakh crore.
  • Expenditure from April to October 2024: ₹24.7 lakh crore (51.3% of budget estimates).
  • Revenue growth outpaces expenditure growth, supporting fiscal stability.

PM-Kisan Scheme:

  • Fully funded by the Central Government; operational since December 1, 2018.
  • Over ₹3.46 lakh crore has been disbursed across 18 instalments since inception.

About Ministry of Finance :

  • Cabinet Minister : Nirmala Sitharaman
  • Minister of State : Pankaj Choudhary

Asian Development Bank Sanctions $500 Million to Boost India’s Environmentally Sustainable Infrastructure  

  • The Asian Development Bank (ADB) approved a $500 million loan to support India’s economic growth by promoting environmentally sustainable infrastructure projects.
  • The loan will be provided to India Infrastructure Finance Company Limited (IIFCL) for funding infrastructure projects.
  • The loan will be used for projects focusing on connectivity, energy transition, and under-resourced sectors such as urban development, education, and healthcare.

Key Highlights :

  • Sustainability Initiatives: The financing will help enhance IIFCL’s capacity to integrate sustainability by establishing a sustainability unit, an environmental sustainability framework, and a project scoring system for sustainability assessments.
  • Climate Challenges: India faces significant environmental challenges, such as floods, droughts, and cyclones, requiring climate-resilient infrastructure development.
  • Financing Gap: India needs $1 trillion for climate-related projects, and the public sector alone cannot meet this gap, highlighting the need for private sector investment.
  • ADB’s Role: ADB is increasing its support to ensure India’s development is inclusive and sustainable, with a focus on climate commitments and attracting private sector investment for infrastructure projects.
  • Risk-Sharing Mechanisms: The project aims to create opportunities for risk-sharing mechanisms to fund infrastructure projects addressing climate challenges.

About ADB : 

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

State Bank of India Joins Record Samurai Loan Surge with ¥30 Billion Debt Plan  

  • State Bank of India (SBI) is seeking a ¥30 billion ($197 million) loan facility, marking its involvement in a record volume of yen loans raised by Asian borrowers excluding Japan in 2024.

Key Highlights :

Loan Details:

  • Loan Amount: ¥30 billion (approximately $197 million).
  • Tenure: 5 years.
  • Interest Margin: 60 basis points over the Tokyo Overnight Average Rate (TONA), a global benchmark for yen-denominated loans.
  • Lead Bank: Mitsubishi UFJ Financial Group Inc. (MUFG) is the lead bank for the deal.
  • Financial Hub: The loan will be raised in Gujarat International Finance Tec-City (GIFT City), India’s financial hub.
  • Samurai Loans: This loan is part of the trend of Samurai loans, where foreign companies raise yen-denominated debt to lower funding costs and diversify from the typically more expensive U.S. dollar loans.
  • Record Samurai Loans: Asian borrowers (excluding Japan) have raised a record ¥1 trillion in Samurai loans year-to-date, highlighting the growing popularity of yen-based debt in the region.
  • SBI’s Previous Loan: SBI had previously signed a ¥40 billion five-year loan in September 2023.
  • Use of Proceeds: SBI plans to use the funds from the yen loan for foreign currency lending.
  • Syndicated Dollar Deal: In addition to the yen loan, SBI is also seeking a syndicated dollar-denominated deal of up to $1.25 billion.

About SBI :

  • Founded : 1 July 1955
  • Headquarters : Mumbai, Maharashtra, India
  • Chairman : Challa Sreenivasulu Setty

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.
  • Gill highlighted the deceleration of global economic growth, with advanced economies seeing a halving of their potential growth rate over the past two decades.
  • Emerging markets and developing economies are also facing declining growth rates.

Key Highlights :

  • Challenges for India’s Economy:Underutilisation of Capital: Inefficiencies arise from unproductive firms that hinder the reallocation of resources to more efficient firms.
  • Talent Allocation: A significant portion of India’s talent pool, particularly women, is underutilised, despite the increasing demand for skilled labor.
  • Energy Efficiency: India’s energy-to-output ratios are high, making it one of the most energy-intensive economies globally.
  • Middle-Income Economies: Gill pointed out that middle-income countries like India are more vulnerable to economic slowdowns compared to low-income or high-income nations.
  • Path to High-Income Status: To transition into a high-income economy, India should prioritize increasing productivity through technology infusion and innovation, particularly by encouraging the growth of large firms, which are often engines of innovation.
  • Using Economic Crisis for Reforms: Gill emphasized that economic crises should be viewed as opportunities to implement structural reforms.
  • Inclusive Growth: India must focus on inclusive growth by providing equitable opportunities for all citizens.

About World Bank :

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

Axis Asset Management Company Opens New Branch in GIFT City  

  • Axis Asset Management Company (Axis AMC) has opened a new branch in the Gujarat International Finance Tec-City (GIFT City), marking a significant step in its global strategy.
  • Purpose of the Branch: The new branch will serve as an offshore hub for global investors, providing investment solutions for both foreign investors looking to invest in India and Indian investors seeking global solutions.
  • The branch was inaugurated by B Gopkumar, MD & CEO of Axis Mutual Fund.
  • The branch is registered with the International Financial Services Centres Authority (IFSCA) as a Fund Management Entity (Retail), allowing it to conduct investment management and portfolio management services.
  • The branch will provide investment products and solutions for both individual and institutional investors, especially targeting the Indian diaspora and international clients.
  • The branch will also facilitate investments for Indian investors in global markets through the Liberalised Investment Scheme (LRS) route.
  • The new hub will provide a wide range of investment solutions, aiming to bridge the gap between Indian and global investment opportunities.

CURRENT AFFAIRS: NATIONAL NEWS

India’s Defence Export Vision: Doubling by 2029

  • The Narendra Modi government aims to more than double defence exports from ₹21,083 crore in March 2024 to over ₹50,000 crore by 2029.
  • Domestic defence production in FY24 reached an unprecedented ₹1.27 lakh crore, with a target of ₹3 lakh crore by 2029.

Shift to Local Manufacturing

  1. Global Interest in India’s Defence Sector
    • Major global defence manufacturers are keen to relocate production lines to India, enhancing local production capabilities.
    • India is exporting defence equipment to over 100 countries, with top destinations including the US, France, and Armenia.
  2. Make in India Initiative
    • India has transformed from a major arms importer to a self-reliant defence equipment exporter.
    • Notable indigenous developments:
      • Dhanush Artillery Gun System
      • Light Combat Aircraft (LCA) Tejas
      • INS Vikrant (Aircraft Carrier)
      • Main Battle Tank (MBT) Arjun
      • Advanced Towed Artillery Gun System (ATAGS)

Domestic Defence Ecosystem

  1. Structure and Contributors
    • 16 Defence Public Sector Units (DPSUs), 430 licensed private companies, and 16,000 MSMEs drive production.
    • Private sector contributes 21% to defence production.
  2. Key Organizations
    • Major state-owned entities:
      • Hindustan Aeronautics Limited (HAL)
      • Bharat Electronics Limited (BEL)
      • Mazagon Dock Shipbuilders
      • Mishra Dhatu Nigam Limited
      • BEML Limited

Union Cabinet Approves Bills for Simultaneous Elections

  • The Union Cabinet has approved two Bills aimed at facilitating the implementation of simultaneous elections to the Lok Sabha and State Assemblies.
  • This decision follows the recommendations of a high-level committee chaired by former President Ram Nath Kovind.

Key Highlights of Simultaneous Elections

  1. Concept of Simultaneous Elections
  • Simultaneous elections involve conducting polls for the Lok Sabha, State Legislative Assemblies, and local bodies (Municipalities and Panchayats) together.
  • This approach is intended to streamline the electoral process, reduce costs, and improve governance.
  1. Proposed Legislative Changes
  • Constitutional Amendment Bill: To amend three Articles and insert 12 new sub-clauses to facilitate simultaneous elections.
  • Amendments to Laws on Union Territories: To align the election schedules of Union Territories with Legislative Assemblies with the national timeline.
  1. Recommendations of the High-Level Committee
  • Single Electoral Roll: To be prepared by the Election Commission of India (ECI) in consultation with State Election Commissions, requiring amendments to Article 325.
  • Municipal and Panchayat Polls: To be held within 100 days of parliamentary and Assembly elections.
  • Appointed Date: The President shall notify a unified starting date for the Lok Sabha and Assembly sessions after elections.
  • Fresh Elections for Specific Cases: In cases like a hung parliament or no-confidence motions, fresh elections will be held only for the remaining term of the preceding House.

Need for Simultaneous Elections

  1. Improved Governance
    • Frequent elections disrupt governance and delay policy decisions due to the imposition of the Model Code of Conduct (MCC).
  2. Reduced Financial Burden
    • Consolidating elections would significantly cut the massive expenses incurred by frequent elections.
  3. Efficient Resource Utilization
    • Minimizes the diversion of security forces and electoral officials from their primary duties.
  4. Other Benefits
    • Promotes higher voter turnout, eases the burden on the judiciary for election-related disputes, and reduces election fatigue.

CURRENT AFFAIRS: BUSINESS NEWS

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

  1. Women-Only Rides
  • Exclusively connects female riders with female drivers to address safety concerns and promote gender comfort.
  1. Advanced Safety Measures
  • Real-Time Trip Sharing: Riders can share their trip details with family or friends.
  • Phone Number Anonymization: Protects privacy during communications.
  • RideCheck: Detects irregularities in the journey, ensuring prompt intervention if needed.
  1. Flexible Earning Opportunities
  • Women drivers can opt to serve only female riders, offering them greater control and safety in their work environment.
  1. Affordable Mobility
  • Provides cost-effective transportation options while bridging the gap in first- and last-mile connectivity.

CURRENT AFFAIRS: AWARDS AND HONOURS

A.R. Rahman Named Honorary President of Trinity Laban Conservatoire

  • Two-time Oscar-winning composer R. Rahman has been named the Honorary President of Trinity Laban, the United Kingdom’s leading conservatoire for music, musical theatre, and contemporary dance.
  • His five-year term places him alongside distinguished predecessors like conductor Charles Mackerras and violinist Yehudi Menuhin.

Key Highlights

  1. Strengthening India-UK Ties in Music Education
    • The appointment reinforces Trinity Laban’s 125-year legacy of music education in India.
    • Builds on a 15-year collaboration between Trinity Laban and Rahman’s KM Music Conservatory (KMMC) in Chennai.
  2. Focus on Musical Theatre
    • Rahman is working with Trinity Laban to explore incorporating musical theatre into its curriculum, a field he is actively promoting.
    • His contributions include “Bombay Dreams” with Andrew Lloyd Webber and the “Lord of the Rings” musical.
  3. Celebratory Event
    • Trinity Laban will commemorate Rahman’s appointment with an Indian music event at Blackheath Halls on March 7, 2025, featuring student performances of Rahman’s compositions.

Rahman’s Legacy and Global Contributions

  1. Awards and Achievements
    • Academy Awards: Two Oscars for “Slumdog Millionaire.”
    • National Film Awards: Recently won his seventh for “Ponniyin Selvan.”
    • Collaborations with global icons like U2, Mick Jagger, and Michael Bolton.
    • Composed for the 2012 London Olympics Opening Ceremony.
  2. Expanding Creative Frontiers
    • Developing “Slumdog Millionaire: The Musical.”
    • Film ventures include directing “Le Musk” and producing “99 Songs.”

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.

Key Highlights

  1. A Historic Comeback
  • On November 5, 2024, Trump won over Vice President Kamala Harris, securing his return to the White House.
  • Time described this achievement as a “comeback of historic proportions”, given the challenges he faced in his post-presidency years.
  1. Political Realignment
  • Trump is credited with driving a once-in-a-generation political realignment, reshaping the American political landscape.
  • His policies and leadership have had a profound effect on domestic governance and international relations.
  1. Redefining the Presidency
  • Time emphasized how Trump has redefined the American presidency, altering traditional norms of governance.
  • His leadership has introduced significant shifts in diplomacy, military strategies, and trade policies.
  1. Global Influence
  • Trump’s presidency continues to influence the U.S. role on the global stage, particularly in areas such as foreign relations and international trade.

Time Magazine’s Editorial and Cover

  • Sam Jacobs, editor-in-chief of Time, remarked that Trump had the most significant influence on the news in 2024, reshaping political discourse and the global order.
  • Trump appears on the magazine’s cover in his signature red tie, posing thoughtfully, symbolizing his enduring impact on American politics.

Other Finalists for 2024

Time also considered several influential figures for the title:

  • Kamala Harris: Vice President and Trump’s opponent in the election.
  • Elon Musk: Innovator and entrepreneur with significant global influence.
  • Benjamin Netanyahu: Israeli Prime Minister navigating complex geopolitical challenges.
  • Kate, Princess of Wales: A prominent global figure in the British monarchy.

Historical Context

  • Trump previously received the Person of the Year title in 2016, following his first presidential election win.
  • This 2024 recognition underscores the enduring significance of his political career and influence.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

TransUnion CIBIL names Bhavesh Jain as Managing Director & Chief Executive Officer  

  • Bhavesh Jain has been appointed as the Managing Director and Chief Executive Officer (MD & CEO) of TransUnion CIBIL, replacing Rajesh Kumar, who resigned after a five-year tenure.
  • Prior to his appointment, Bhavesh Jain held the position of Chief Revenue Officer at TransUnion CIBIL.
  • Jain has a strong background with prior experience at Thomson Reuters, Citi, and Kone.
  • Bhavesh Jain is focused on driving sustainable access to credit, enhancing financial inclusion, and promoting ease of doing business in India.
  • President of TransUnion International : Todd Skinner

About TransUnion CIBIL :

  • Founded : August 2000
  • Headquarters : Mumbai, Maharashtra, India

CURRENT AFFAIRS : DEFENCE NEWS

Indian Light Tank Reaches Significant Milestone with Accurate Firing at High Altitude

  • The Indian Light Tank (ILT) successfully fired rounds at different ranges at an altitude of over 4200 meters in a High Altitude Location, achieving consistently accurate results.
  • Prior to the high altitude trials, the Phase I trial of the ILT was conducted in a desert environment in September 2024.
  • The Combat Vehicles Research & Development Establishment (CVRDE), part of the Defence Research and Development Organisation (DRDO), is responsible for defining, designing, and developing the ILT according to the Provisional Staff Qualitative Requirements (SQRs) of the Indian Army.
  • The ILT is being manufactured by Larsen & Toubro Precision Engineering & Systems, an industry partner.

Key Highlights :

  • Specifications:The ILT is a 25-ton class armoured fighting vehicle designed for high altitude applications for the Indian Armed Forces.
  • Design to Realization : The entire process of design, realization, and high altitude demonstration of the ILT was completed in just three years.
  • Airlift Capability: The Indian Air Force demonstrated the airlift capability of the ILT, enabling rapid deployment in remote and difficult-to-access locations where road or rail transport is not feasible.
  • Trial Phases:The ILT has successfully completed two phases of internal performance trials with active support from the Indian Army and Indian Air Force.
  • More trials are planned before the User trials.

About Ministry of Defence :

  • Defence Minister : Rajnath Singh
  • Minister of State : Sanjay Seth

Ministry of Defence Signs Agreement with Hindustan Aeronautics Limited for Acquisition of 12 Su-30MKI Aircraft

  • The Ministry of Defence (MoD) signed a ₹13,500 crore deal with Hindustan Aeronautics Limited (HAL) for the procurement of 12 Russian-origin Su-30MKI fighter jets to address the Indian Air Force (IAF) fleet strength deficiency.
  • The 12 Su-30MKI aircraft will feature 62.6% domestic content, with key components being manufactured by the Indian defence industry, furthering India’s self-reliance in defense production.
  • HAL, a Navratna PSU, will upgrade its Nashik plant to manufacture the 12 Su-30MKIs, filling the gap caused by the loss of 12 Su-30MKIs in accidents over the last two decades.
  • The new Su-30MKIs will feature advanced avionics, electronic warfare suites, and weapon systems, ensuring they are on par with the other 240 Su-30MKI aircraft in the IAF fleet.
  • The existing fleet of 240 Su-30MKIs will also undergo upgrades, including the installation of new AL-31FP Aero Engines, extending their operational life by 20 years.
  • This deal is a significant step towards strengthening the IAF’s combat capability and enhancing defense self-reliance in line with India’s goal of becoming more self-sufficient in defense production.

About Hindustan Aeronautics Limited :

  • Headquarters : Bangalore, Karnataka, India
  • Chairman & MD : DK Sunil

9th India-Thailand Defence Dialogue in New Delhi to Discuss Strengthening Bilateral Defence Cooperation

  • The 9th India-Thailand Defence Dialogue took place in New Delhi on December 12, 2024.
  • The meeting was co-chaired by Shri Amitabh Prasad, Joint Secretary (International Cooperation), and Gen Tharapong Malakam, Thailand’s Deputy Permanent Secretary for Defence.
  • Both sides agreed to the early establishment of a Joint Working Group to monitor and steer cooperation in the defence industry.
  • An agreement was made to conduct the Subject Matter Experts Exchange between the Indian Armed Forces and Royal Thai Armed Forces, institutionalizing regular engagement in niche defence domains.
  • The Indian co-chair emphasized India’s domestic defence industry’s capability to cooperate with Thailand in its defence acquisition plans.
  • Thailand acknowledged this and proposed exploring co-design, co-production, and co-development in the defence sector.

Key Highlights :

  • Significance of Dialogue : The dialogue is considered a milestone in strengthening defence relations between India and Thailand.
  • Thailand is an important maritime neighbour and a key partner in India’s ‘Act East’ Policy and the Indo-Pacific region.
  • Complimentary Policies:Thailand’s ‘Act West’ Policy complements India’s ‘Act East’ Policy, providing a basis for the elevation of bilateral relations.
  • Homage to Fallen Heroes; Earlier in the day, the Thailand delegation paid homage at the National War Memorial in New Delhi, laying a wreath to honor fallen heroes.
  • Cultural Engagement:The delegation also visited the National Museum and paid respects to the Holy relics of Lord Buddha.

4th Edition of ‘SAMPARK’ ECHS Outreach Initiative for Naval Veterans and Families to Launch in Maharashtra

  • The 4th edition of SAMPARK, an outreach initiative by the ECHS (Navy), is aimed at ensuring the well-being of Naval Veterans, Veer Naris, and their families by providing direct communication and healthcare services.
  • SAMPARK 4.0 will be launched on 16th December 2024, covering various locations in Maharashtra, including Thane, Nasik (Deolali), Aurangabad, Ahmednagar, Solapur, Kolhapur, and Pune.
  • Purpose: The initiative seeks to provide quality healthcare services and support to Naval Veterans and their families, particularly in remote and inaccessible areas, in line with the Chief of the Naval Staff’s (CNS) vision.

Key Highlights :

Key Focus Areas:

  • Establishing direct communication between veterans and ECHS(Navy).
  • Promoting camaraderie and support within the veteran community.
  • Educating veterans and their families about healthcare services, entitlements, and ECHS procedures.
  • Team Composition: The outreach will be conducted by a team of one Officer and five Sailors over a 10-day period, visiting multiple ECHS polyclinics across Maharashtra.
  • Veteran Engagement: Interactive and immersive sessions will be held at each ECHS polyclinic to directly engage with veterans, address their grievances, and provide guidance on accessing medical services.
  • Veteran Support: SAMPARK 4.0 aims to enhance trust by ensuring veterans feel heard, supported, and cared for, and will assist in resolving any issues faced in accessing healthcare services.
  • Grievance Redressal: Veterans will be able to register grievances related to healthcare services, and ECHS(Navy) will work to resolve these issues, ensuring adequate care is provided to every veteran.

CURRENT AFFAIRS: SPORTS NEWS

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

  1. Victory Details
    • Gukesh clinched the title by scoring 7.5 points over Ding Liren’s 6.5 points in the 14-game classical match.
    • The decisive moment came in the final classical game, where Ding Liren, under intense pressure, made a crucial mistake in the fifth hour, paving the way for Gukesh’s victory.
  2. Breaking Records
    • 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.
  3. Tiebreak Avoidance
    • The match appeared to be heading for a tiebreak, but Gukesh’s relentless efforts in the final game ensured a decisive victory.
  4. Prize Money
    • Gukesh secures the lion’s share of the $2.5 million prize pool, marking a significant financial and professional milestone.

Journey to the Championship

  • Gukesh earned the right to challenge for the world title by winning the Candidates Tournament earlier this year.
  • His disciplined preparation and strategic brilliance during the championship cemented his place in chess history.

Significance for Indian Chess

  • Gukesh’s triumph underscores the emergence of India as a chess powerhouse, inspiring a new generation of players.
  • It highlights the continuity of excellence in Indian chess, following the legacy of Viswanathan Anand.

New Badminton High-Performance Centre Inaugurated at Kalinga Stadium

  • Odisha continues its commitment to advancing sports infrastructure with the inauguration of a Badminton High-Performance Centre at the prestigious Kalinga Stadium in Bhubaneswar.
  • The inauguration ceremony was graced by Odisha Chief Minister Mohan Majhi and Assam Chief Minister Himanta Biswa Sarma, who also serves as the President of the Badminton Association of India.
  • Himanta Biswa Sarma, on a two-day visit to Odisha, paid homage to the sibling deities at the Srimandir in Puri before attending the event.

About Kalinga Stadium

Kalinga Stadium, a hallmark of Odisha’s sports excellence, is known for hosting international-level events due to its world-class facilities, including:

  1. Hockey Stadium
    • Certified by the FIH with top-tier pitches and cutting-edge floodlights.
    • Venue for the FIH Men’s Hockey World Cup.
  2. Other Sporting Facilities
    • Olympic-standard swimming pool
    • Athletics track
    • Football field
    • Tennis courts and gyms
  3. Upgrades and Sustainability
    • Eco-friendly initiatives
    • Enhanced spectator seating
    • Advanced digital displays

High-Performance Centre Features

  • State-of-the-art equipment designed for badminton athletes.
  • Professional coaching and guidance to support high-level training.
  • Focused on nurturing talent for national and international competitions.

Significance of the Initiative

  1. Boost to Sports in Odisha
    • Strengthens Odisha’s reputation as a hub for sports excellence.
    • Aligns with the state’s long-term vision for sports development.
  2. Support for Athletes
    • Provides modern training resources for athletes to enhance their performance.
    • Contributes to the development of badminton and other sports in the region.

CURRENT AFFAIRS: IMPORTANT DAYS

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.
  • The Bureau of Energy Efficiency assists in the development and implementation of strategies and policies to reduce excessive consumption of energy.
  • The committee also executed ‘The Energy Conservation Act’ in 2001.
  • The main objective of the day is to reduce the use of energy and to encourage people to use it efficiently.

Daily CA One- Liner: December 14

  • The Narendra Modi government aims to more than double defence exports from ₹21,083 crore in March 2024 to over ₹50,000 crore by 2029.
  • The Union Cabinet has approved two Bills aimed at facilitating the implementation of simultaneous elections to the Lok Sabha and State Assemblies.
  • 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
  • Two-time Oscar-winning composer R. Rahman has been named the Honorary President of Trinity Laban, the United Kingdom’s leading conservatoire for music, musical theatre, and contemporary dance.
  • 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.
  • Indian Grandmaster D Gukesh, aged 18, has made history by defeating reigning champion Ding Liren to become the youngest World Chess Champion.
  • Odisha continues its commitment to advancing sports infrastructure with the inauguration of a Badminton High-Performance Centre at the prestigious Kalinga Stadium in Bhubaneswar
  • The Government has been proactively supporting the banking ecosystem and taking care of both business and employee welfare to maintain stability, transparency, and growth.
  • The Finance Ministry seeks approval for over ₹44,000 crore in additional cash expenditure through the first Supplementary Demands for Grants (SDG).
  • The Asian Development Bank (ADB) approved a $500 million loan to support India’s economic growth by promoting environmentally sustainable infrastructure projects.
  • State Bank of India (SBI) is seeking a ¥30 billion ($197 million) loan facility, marking its involvement in a record volume of yen loans raised by Asian borrowers excluding Japan in 2024.
  • India is better positioned than many of its peers to handle global challenges but needs to accelerate structural reforms.
  • Axis Asset Management Company (Axis AMC) has opened a new branch in the Gujarat International Finance Tec-City (GIFT City), marking a significant step in its global strategy.
  • Bhavesh Jain has been appointed as the Managing Director and Chief Executive Officer (MD & CEO) of TransUnion CIBIL, replacing Rajesh Kumar, who resigned after a five-year tenure.
  • The Indian Light Tank (ILT) successfully fired rounds at different ranges at an altitude of over 4200 meters in a High Altitude Location, achieving consistently accurate results.
  • The Ministry of Defence (MoD) signed a ₹13,500 crore deal with Hindustan Aeronautics Limited (HAL) for the procurement of 12 Russian-origin Su-30MKI fighter jets to address the Indian Air Force (IAF) fleet strength deficiency.
  • The 9th India-Thailand Defence Dialogue took place in New Delhi on December 12, 2024.
  • The 4th edition of SAMPARK, an outreach initiative by the ECHS (Navy), is aimed at ensuring the well-being of Naval Veterans, Veer Naris, and their families by providing direct communication and healthcare services.
  • National Energy Conservation Day 2024 is observed on the 14th of December 2024.

0 0 votes
Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
© 2024 All rights reserved. Made with by IBPSGuide