Daily Current Affairs December 29th & 30th 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

Reserve Bank of India Permits Prepaid Payment Instruments Users to Conduct UPI Transactions via Third-Party Mobile Apps

• The Reserve Bank of India (RBI) has allowed UPI payments from/to full-KYC Prepaid Payment Instruments (PPIs) through third-party UPI applications, as announced in its April 2024 Statement on Development and Regulatory Policies.

Key Highlights :

• Eligibility: Only full-KYC PPIs are eligible for UPI transactions through third-party apps.
• PPIs must be linked to the customer’s UPI handle for making/receiving UPI payments.
• Authentication Process: UPI transactions from PPIs will be authenticated using the customer’s existing PPI credentials, and transactions will be pre-approved before reaching the UPI system.
• PPI Issuer Restrictions: A PPI issuer cannot onboard customers from other banks or PPIs but can facilitate the discovery of its full-KYC PPIs on third-party UPI apps.
• Impact on Transactions: Previously, UPI payments from/to PPIs could only be done using the PPI issuer’s mobile application.
• The new provision allows PPIs to be used on third-party UPI apps, expanding convenience and payment options.
• PPI Definition: A Prepaid Payment Instrument (PPI) is a financial tool that allows users to store funds on a card or digital wallet for future transactions, enhancing the ease of digital payments.

About RBI :

• Founded : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Sanjay Malhotra

International Financial Services Centres Authority Grants Approval to 200th Fund; 13 Funds Relocate from Singapore, Mauritius, and Dubai

• An Alternate Investment Fund (AIF) from an Indian financial services company has become the 200th fund to be granted approval in GIFT City in Gujarat that now houses 13 AIFs that have relocated to India from foreign jurisdictions like Singapore, Mauritius and Dubai.
• Motilal Oswal’s Fund of Fund has become the 200th fund to be registered in GIFT IFSC.
• It is a private equity fund and will be investing into other funds in India.
• Till date, IFSCA has registered 141 Fund Management Entities which have launched a record 200 schemes with a cumulative targeted corpus of $45 billion from IFSC.
• As of December 2024, commitments of $12 billion have been raised by the funds in IFSC and $4.61 billion actually invested into India and other countries.

About IFSCA :

• Headquarters : Gujarat
• Chairperson ; K Rajaraman

Sri Lanka’s Central Bank Fines Indian Bank ₹5.8 Lakh for Violating Financial Transactions Reporting Act

• The Central Bank of Sri Lanka’s Financial Intelligence Unit has imposed a penalty on state-owned Indian Bank for failing to comply with the Financial Transactions Reporting Act (FTRA) No.6 of 2006 in Sri Lanka.
• The penalty amounts to Sri Lankan rupees (LKR) 2 million, equivalent to approximately ₹5.8 lakh.
• Indian Bank operates two branches in Sri Lanka, located in Colombo and Jaffna.

About Indian Bank :

• Founded : 15 August 1907
• Headquarters: Chennai, Tamil Nadu

YES BANK partners with FICCI FLO to launch YES PowherUp program for empowering women entrepreneurs in MSMEs

• YES BANK, the sixth-largest private sector bank in India, in collaboration with FICCI FLO, South East Asia’s largest women’s chamber of commerce, announced the launch of YES PowherUp, a specialised MSME programme designed to empower women entrepreneurs in scaling their businesses.
• YES PowherUp offers a comprehensive suite of financial solutions tailored to the unique needs of women-led enterprises.
• YES PowherUp aims to provide the necessary support for businesses to establish, grow, and succeed sustainably.
• National President of FICCI FLO : Joyshree Das Verma

About YES BANK :

• Founded : 2004
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Prashant Kumar

Aditya Birla Capital Becomes the First BFSI Firm to Provide Complete Financial Services on the Open Network for Digital Commerce Platform

• Aditya Birla Capital has become the first BFSI company to offer all three core financial services lending, insurance, and mutual fund investments on the Open Network for Digital Commerce (ONDC) platform.
• This move aims to provide broader access to financial products, particularly in underserved markets, and support financial inclusion across the country.
• Through the ONDC network, various live Buyer Apps will now be able to offer Aditya Birla Capital’s personal loans, health insurance, and mutual funds to their users.
• CEO of Aditya Birla Capital Limited : Vishakha Mulye
• MD & CEO of ONDC : T. Koshy

Mahindra Tractors collaborates with Punjab National Bank to offer dealer financing solutions

• Mahindra Tractors, a part of Mahindra & Mahindra Limited, has partnered with Punjab National Bank (PNB) to offer channel finance solutions to Mahindra Tractors’ dealers.

Key Highlights :

• Eligibility: Dealers of Mahindra Tractors with a business vintage of over one year are eligible for the channel finance program.
• Finance Limit: The program provides a finance limit of up to ₹5 crore, with the limit assessed based on 105 days of sales.
• Credit Period: Dealers will benefit from a 105-day credit period, along with an additional 15-day grace period.
• Funding Structure: The program offers 100% funding for the Mahindra & Mahindra invoice without any margin requirements.

About Punjab National Bank :

• Established : 19 May 1894
• Headquarters : Delhi, India
• MD & CEO : Atul Kumar Goel

Tata Power Renewable Energy Joins Canara Bank to Promote Rooftop Solar under PM Surya Ghar Muft Bijli Yojana 

• Tata Power Renewable Energy Limited (TPREL), a Tata Group subsidiary, has partnered with Canara Bank to promote rooftop solar systems under the PM Surya Ghar Muft Bijli Yojana.
• Objective: The initiative aims to make rooftop solar systems more accessible and affordable for households by providing tailored financing options under the PM Surya Ghar Scheme.

Key Highlights :

• Financing Details:For systems up to 3 kW: Loans up to ₹2 lakh with a 10% margin, collateral-free financing, an interest rate of 7% per annum, and a tenure of up to 10 years.
• For systems between 3 kW and 10 kW: Loans up to ₹6 lakh with a 20% margin, collateral-free financing, an interest rate of 10% per annum, and a maximum tenure of 10 years.

About PM Surya Ghar Muft Bijli Yojana:

• Launched by Prime Minister Narendra Modi on February 15, 2024.
• The goal is to provide free electricity to households, transforming India’s energy landscape.
• Target: Reach 10 lakh households by March 2025 and 1 crore households by March 2027.
• Program Impact: The program is aimed at supporting energy sustainability while empowering households through affordable clean energy solutions.

About Canara Bank :

• Founded : 1906
• Headquarters : Bangalore, Karnataka
• MD & CEO : K Satyanarayana Raju

Federal Bank Partners with Ecofy to Provide Financing Solutions for MSMEs Investing in Rooftop Solar Installations 

• Federal Bank, announced a partnership with Ecofy, India’s first green-only NBFC, backed by Eversource Capital, to offer innovative financing solutions for MSMEs investing in commercial rooftop solar installations.
• This collaboration marks one of the first comprehensive co-lending partnerships specifically designed to address the unique solar financing needs of the MSME sector.
• The program targets financing 3,600 kW of rooftop solar installations annually, benefiting numerous MSMEs while cutting over 2,500 tons of CO2 emissions each year—accelerating decarbonisation and fostering sustainable growth.

About Federal Bank :

• Headquarters : Aluva, Kerala
• MD & CEO : KVS Manian

Kotak Mahindra Bank Introduces BizLabs Accelerator Program to Support Early-Revenue Startups

• Kotak Mahindra Bank has launched the Kotak BizLabs accelerator programme as part of its Corporate Social Responsibility (CSR) initiatives.
• The programme is designed to empower early-revenue stage startups.
• It is launched in collaboration with leading incubators such as IIMA Ventures, NSRCEL, and T-Hub.
• Objective: The programme aims to help startups overcome growth challenges and scale their businesses effectively.
• Support for Startups: Kotak BizLabs plans to support up to 1,000 startups through community engagement.
• Focus Areas: The programme will focus on helping startups refine their product-market fit, secure funding, and scale operations.

About Kotak Mahindra Bank :

• Founded : 6 February 2003
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Ashok Vaswani

HSBC India and Indian Hotels Company Launch India’s First Premium Co-Branded Hospitality Credit Card

• HSBC (Hongkong and Shanghai Banking Corporation Limited) India and Indian Hotels Company have launched the HSBC Taj Credit Card, India’s first premium co-branded hospitality credit card.
• Target Audience: The card is designed for luxury enthusiasts, offering bespoke experiences and exceptional services to discerning customers.
• Collaboration with Visa: The card has been launched in collaboration with Visa, catering to individuals who seek luxury and exclusive travel experiences.
• Special Features:The card is a metal co-branded credit card, providing best-in-class benefits.
• It is tailored to meet the lifestyle aspirations of affluent customers, focusing on luxury and fine experiences.
• Fees and Charges:The joining fee is Rs 1,10,000, payable upon activation.
• The annual fee is Rs 1,10,000 after the first year.
• Target Market: The card aims to cater to India’s growing affluent class, providing exclusive benefits and luxury services.

About HSBC Bank India :

• Founded : 1853
• Headquarters : Mumbai, Maharashtra, India
• CEO : Hitendra Dave

Securities and Exchange Board of India extends deadline by three years for Life Insurance Corporation of India  to meet 10% public shareholding requirement

• The Securities and Exchange Board of India (SEBI) has granted an additional three years of time to the Life Insurance Corporation of India (LIC) to achieve 10% public shareholding.
• Under Rule 19(2)(b)(iv) of the Securities Contracts (Regulation) Rules, 1957, a company must have a 10% public shareholding in 5 years from the date of listing.
• Accordingly, with SEBI’s extension, the revised timeline for the insurance corporation to achieve 10% public shareholding is on or before May 16, 2027.
• The central government has earlier granted a one-time exemption to Life Insurance Corporation of India (LIC) to achieve 25 per cent Minimum Public Shareholding (MPS) within 10 years since its listing on the exchanges.
• The country’s largest insurer, LIC, was listed on the exchanges in May 2022.
• The government had reportedly sold over 22.13 crore shares, or a 3.5 per cent stake in LIC, through initial public offering (IPO).
• Reportedly, the government currently holds 96.5% stake in the company.

About LIC :

• Established on September 1, 1956, the oldest and the largest insurance firm was introduced with a claimed objective of reaching out to all insurable individuals in the country, and providing them with adequate financial cover at a reasonable cost.
• Headquarters : Mumbai, Maharashtra, India

Government to inject Rs 500 crore into IFCI to strengthen its financial stability

• The Indian government has approved a capital infusion of Rs 500 crore into the state-owned Industrial Finance Corporation of India (IFCI) to improve its financial health.
• The infusion is part of a restructuring and consolidation plan for IFCI.
• Government Stake Increase:As a result of the capital infusion, the government’s holding in IFCI is expected to rise from the current 71.72% as of September 2024.
• Approval through Supplementary Demand for Grants:The capital infusion plan was approved via the passage of the first Supplementary Demand for Grants for the financial year 2024-25 in the Lok Sabha.
• Previous Capital Raise by IFCI:Earlier in the year, IFCI raised Rs 500 crore by issuing equity shares to the government.
• History and Purpose of IFCI:IFCI, established on July 1, 1948, is the first development financial institution in India. It was set up by the government to provide long-term finance for the industrial sector.
• Restructuring and Consolidation:The Department of Financial Services (DFS), Ministry of Finance, approved the in-principle proposal for the ‘Consolidation of IFCI Group’, which includes the merger of IFCI Ltd with other group companies:
• StockHolding Corporation of India Limited
• IFCI Factors Ltd
• IFCI Infrastructure Development Ltd
• IIDL Realtors Ltd

CURRENT AFFAIRS: NATIONAL NEWS

UK Universities to Establish Campuses in Gujarat’s GIFT City

• Queen’s University Belfast and Coventry University, two prestigious UK institutions, have applied to set up international campuses at Gujarat’s GIFT City, continuing the trend of global educational expansion in India.
• This move reflects India’s evolving approach to higher education, supported by relaxed regulations to foster international collaborations.

Key Highlights

Queen’s University Belfast

• Status: Third foreign university approved by the International Financial Services Authority (IFSCA) for GIFT City.
• Programs: Initial focus on postgraduate programs with plans to expand into research and undergraduate courses.
• Reputation: Nearly 200 years of history and ranked as one of the top UK universities with expertise in sustainability and global impact.
• Indian Presence: Over 1,000 Indian students already enrolled in its programs.

Coventry University

• Global Network: Operates campuses in Egypt, Poland, Morocco, and Kazakhstan, with over 13,000 international students from 160 countries.
• India Hub: Established an India Hub in Delhi in 2024 to tackle global challenges like climate change and economic development.
• Future Plans: Strengthening its Indian presence through advanced programs and collaborative opportunities at GIFT City.

Regulatory Framework Supporting Foreign Campuses

• IFSCA’s 2022 Regulations:
  • Allow universities to repatriate funds in foreign currency.
  • Exempt from adhering to typical Indian infrastructure standards.
• Eligibility: Institutions must have a top-500 global ranking or a strong reputation in their home country to qualify.
• Existing Institutions:
  • Australian universities such as Deakin University and University of Wollongong have already set up campuses, offering specialized courses in business analytics, cybercrime, and financial technology.

PM Modi Chairs 45th PRAGATI Meeting: Focus on Projects Worth Over ₹1 Lakh Crore

• Prime Minister Narendra Modi presided over the 45th PRAGATI (Pro-Active Governance and Timely Implementation) meeting emphasizing the importance of efficient grievance resolution and timely project execution.
• This session reviewed eight critical infrastructure projects across sectors, with a combined investment exceeding ₹1 lakh crore.

Key Highlights

Reviewed Projects and Costs

• Total Projects: 8.
• Combined Cost: Over ₹1 lakh crore.
• Sectoral Focus:
  • Urban Transport: Six metro projects.
  • Road Connectivity: One project.
  • Thermal Power: One project.

Major Discussions and Directives

1. Public Grievances
   • Focus Areas: Banking and insurance sector grievances.
   • Achievements: Reduced grievance disposal time.
   • Directive: Improve the quality of resolutions for long-term public satisfaction.
2. Urban Transport Projects
   • Best Practices: Called for workshops to share metro project experiences.
   • Public Utility: Highlighted metros as the preferred mode of public transport in urban areas.
3. Rehabilitation and Resettlement (R&R)
   • Timely R&R: Directed officials to prioritize the rehabilitation of Project Affected Families (PAFs).
   • Ease of Living: Stressed quality amenities for affected families in their new locations.
4. PM Surya Muft Bijli Yojana
   • Rooftop Solar: Directed states to:
     • Enhance rooftop solar installations with a strong vendor ecosystem.
     • Reduce timeframes between demand generation and operationalization.
   • Saturation Approach: Suggested phased saturation of rooftop solar in villages, towns, and cities.

PRAGATI’s Achievements (Till Date)

• Projects Reviewed: 363.
• Total Investment Monitored: ₹19.12 lakh crore.

About PRAGATI Platform

• Launched: March 25, 2015.
• Developer: Prime Minister’s Office (PMO) in collaboration with the National Informatics Centre (NIC).
• Objective:
  • Facilitate cooperation between the Centre and State Governments.
  • Address public grievances and ensure the timely execution of key government initiatives.
• Technologies Used: Digital data management, video conferencing, and geospatial analytics.

Dr. Jitendra Singh Launches ‘Viksit Panchayat Karmayogi’ Initiative on Good Governance Day

• On Good Governance Day, Jitendra Singh introduced the ‘Viksit Panchayat Karmayogi’ initiative, which aims to empower Panchayati Raj Institutions (PRIs) to decentralize governance effectively.
• This program, part of the ‘Prashasan Gaon Ki Aur’ campaign, focuses on strengthening grassroots governance through modern tools, capacity building, and sustainable practices.

Key Highlights

1. Strengthening Panchayati Raj Institutions (PRIs):

• Target States: Odisha, Assam, Gujarat, and Andhra Pradesh.
• Tools Provided:
  • E-learning platforms for skill enhancement.
  • AI-powered chatbots and mobile apps to bridge knowledge gaps.

2. Decentralization of Governance:

• Objective: Aligns with the government’s mission to decentralize decision-making and foster participatory governance.
• Focus: Empowering elected representatives and officials with technology and knowledge.

3. Empowering Rural India:

• Outcome: Creation of scalable, citizen-centric governance models.
• Impact: Driving inclusive and sustainable development in rural regions.

Complementary Initiatives

1. New Dashboard on iGOT Karmayogi Platform:

• Purpose: Enhances monitoring and decision-making for ministries and state administrators.
• Utility: Facilitates better management of capacity-building efforts.

2. CPGRAMS Annual Report 2024:

• Achievement: Over 25 lakh grievances resolved annually through the Centralized Public Grievance Redress and Monitoring System (CPGRAMS).
• Significance: Reflects the government’s commitment to transparent and responsive governance.

3. Single Simplified Pension Application Form:

• Features:
  • A digital-first approach simplifying pension applications for retiring officials.
  • Ensures quicker, cost-effective disbursement processes.
  • Offers an improved user experience for pensioners.

IIT Bombay Develops Needle-Free Shock Syringe for Painless Drug Delivery

• Researchers at IIT Bombay, led by Viren Menezes from the Department of Aerospace Engineering, have developed a needle-free solution for drug delivery: the shock syringe.
• This breakthrough aims to make medical injections painless and more efficient, addressing common challenges associated with traditional needles.

How the Shock Syringe Works

• Technology: The shock syringe utilizes high-energy shock waves, traveling faster than the speed of sound, to deliver drugs without a needle.
• Micro Shock Tube System: Powered by pressurized nitrogen gas, the device generates a microjet of liquid that penetrates the skin at speeds twice as fast as a commercial airplane during takeoff.
• Size & Design: The shock syringe is about the size of a ballpoint pen, making it compact and easy to use.

Research Findings and Benefits

• Efficacy in Drug Delivery: In tests with laboratory rats, the shock syringe was found to be as effective as, or even superior to, traditional needles:
  • For viscous drugs like antifungals, the shock syringe delivered medication deeper into the skin, enhancing efficacy.
  • Insulin Delivery: For diabetic rats, it effectively lowered blood sugar levels and maintained stable levels longer than traditional needle injections.
  • Tissue Analysis: The shock syringe caused minimal skin damage, resulting in reduced inflammation and faster healing.

Advantages Over Traditional Syringes

• Painless Experience: The shock syringe uses the physics of compressed airwaves to administer medication without the need for needles, ensuring a virtually painless experience.
• Safety & Efficiency: It addresses critical safety concerns, including the risk of needle-stick injuries, which can transmit bloodborne diseases.
• Cost-Effective & Sustainable: The device can deliver 1,000+ injections before requiring a nozzle replacement, making it a cost-effective solution for mass immunization campaigns.

India’s Record-Breaking Defence Sector Performance in FY 2023-24

• India achieved a major milestone in its defence sector during the fiscal year 2023-24, with significant growth in both defence exports and indigenous production.
• This success reflects India’s increasing self-reliance and its strengthened capabilities in the defence industry.

Key Highlights

• Defence Exports:
  • Total Value: Rs 21,083 crore (approx. USD 2.63 billion)
  • Growth: A 32.5% increase compared to the previous year (Rs 15,920 crore in FY 2022-23).
  • Long-Term Growth: Defence exports have increased by 31 times since FY 2013-14.
  • Sector Contribution:
    • Private Sector: 60% contribution to defence exports.
    • Defence Public Sector Undertakings (DPSUs): 40% contribution.
• Indigenous Defence Production:
  • Total Value: Rs 1,26,887 crore
  • Growth: 16.7% increase compared to the previous year (Rs 1,08,684 crore).
• Defence Minister’s Target: Rajnath Singh set a target of Rs 50,000 crore in defence exports by 2029.

Key Strategies for Self-Reliance and Growth

• Positive Indigenisation Lists (PIL):
  • The government issued five new PILs, focusing on boosting domestic production and reducing reliance on imports.
  • The lists cover 346 items for DPSUs to manufacture locally, ranging from complex systems to advanced sensors and weapons.
• Aatmanirbharta (Self-Reliance):
  • India aims to reduce dependency on imports and become a global hub for defence exports by enhancing its indigenous production capabilities.

Private Sector & DPSU Contributions

• Private Sector: Contributed 60% to the total defence exports, showcasing its growing role in the sector.
• DPSUs: Contributed 40%, reflecting their vital contribution to India’s strategic defence objectives.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Thailand to Introduce E-Visa System for Indian Nationals Starting January 2025                                       

• The Royal Thai Embassy in New Delhi has officially announced the launch of Thailand’s Electronic Visa (e-Visa) system for Indian nationals, set to roll out on January 1, 2025.
• This new system is designed to simplify the visa application process for Indian travellers, making it more convenient and efficient.
• Under the new system, applicants will be required to submit their visa applications exclusively through the official Thai e-Visa portal, thaievisa.go.th.
• For Indian travellers holding ordinary passports, the Embassy has assured that the existing 60-day visa exemption for tourism and short business trips will remain in effect until further notice.

About Thailand :

• Prime Minister : Paetongtarn Shinawatra
• Capital : Bangkok
• Currency : Thai baht

Over 40 Lakh Fake Beneficiaries Identified in Odisha’s Public Distribution System e-KYC Verification

• Over 40 lakh ghost beneficiaries have been detected in Odisha during the ongoing e-KYC verification for the Public Distribution System (PDS).
• The detection process revealed that 1 lakh to 1.5 lakh ghost beneficiaries were found in each district.
• The verification is still in progress, with the Aadhaar-based e-KYC process being conducted to bring transparency and improve the accuracy of beneficiary lists.

Key Highlights :

• Government’s Measures:The Mohan Majhi government is working to eliminate ghost beneficiaries, a practice that allegedly persisted for the past 24 years.
• The government is also linking Aadhaar numbers with e-POS (Point of Sale) machines for better verification.
• The state plans to delete ghost beneficiaries and ensure that only eligible individuals receive PDS benefits.
• Applications for New Ration Cards:Over 6.19 lakh applications for new ration cards have been received under the State Food Security Scheme (SFSS).
• The government has fixed 10 parameters for the enrollment and issuance of new ration cards.
• Concerns from Food Rights Forum (OKAA):The Odisha Khadya Adhikar Abhijan (OKAA) forum has raised concerns over 6 lakh pending applications and urged the government to issue new ration cards and add members to existing cards without waiting for the completion of the e-KYC process.
• SFSS Coverage and Fiscal Relief:The State Food Security Scheme (SFSS) initially had around 25 lakh beneficiaries, but the coverage has now reduced to approximately 10 lakh beneficiaries.
• With the Centre providing food grains free of cost to the state, the fiscal burden on Odisha has decreased, and OKAA urges the state to expand SFSS coverage.
• Ongoing Actions and Timeline:The government is currently working on removing ghost beneficiaries and adding eligible individuals to the list.
• As of November 2024, the e-KYC verification was completed for 2.69 crore beneficiaries out of the total 3.36 crore PDS beneficiaries, with 1.77 lakh ghost ration card holders already deleted.

About Odisha :

• Governor : Kambhampati Hari Babu
• Chief Minister : Mohan Charan Majhi
• Capital : Bhubaneswar

CURRENT AFFAIRS: BUSINESS NEWS

China’s Brahmaputra Mega-Dam Raises Strategic and Environmental Concerns

• China has approved the construction of the world’s largest hydropower dam on the Yarlung Zangbo River (Brahmaputra) in Tibet, near the Indian border. With an estimated cost of $137 billion, this ambitious project is poised to surpass the Three Gorges Dam in scale.
• However, the development raises significant geopolitical, strategic, and environmental concerns, particularly for India and Bangladesh.

Key Highlights

Strategic and Diplomatic Implications

1. India’s Concerns
   • Water Flow Control: The dam positions China to potentially regulate or divert the river’s flow, affecting water availability in India and Bangladesh.
   • Flood Risk: The dam could amplify risks of water release during hostile situations, creating security concerns for Indian border regions.
2. India’s Response
   • Countermeasure Dam: India is constructing a dam on the Brahmaputra in Arunachal Pradesh to mitigate potential impacts of Chinese control.
   • Data-Sharing Mechanisms:
     • The Expert Level Mechanism (ELM), established in 2006, facilitates dialogue on trans-border rivers.
     • China provides India with hydrological data during flood seasons, reaffirmed in a December 18 meeting between India’s NSA Ajit Doval and China’s Foreign Minister Wang Yi.
3. Regional Dynamics
   • Bangladesh’s Vulnerability: The downstream state relies heavily on the Brahmaputra for agriculture, fisheries, and drinking water.

About China :

• President : Xi Jinping
• Capital : Beijing
• Currency : Renminbi

CURRENT AFFAIRS: AWARDS AND HONOURS

Rashtriya Ispat Nigam Limited (RINL) Wins Gold Award for Energy Conservation

• Rashtriya Ispat Nigam Limited (RINL), the corporate entity of the Visakhapatnam Steel Plant (VSP), has been awarded the Gold Award at the Andhra Pradesh State Energy Conservation Award 2024.
• This prestigious recognition celebrates RINL’s innovative and impactful energy-saving measures in the iron and steel sector.

Key Highlights of the Award

• Presented By: The award was conferred by the State Energy Conservation Mission of Andhra Pradesh during the Energy Conservation Week celebrations in Vijayawada.
• Representatives:
  • Uttam Brahma (General Manager, Energy, Environment & Utilities).
  • VVVS Pulla Reddy (Deputy General Manager, Energy Management Department).
  • Both accepted the award from K. Vijayanand, IAS, Special Chief Secretary (Energy), Andhra Pradesh.

RINL’s Achievements in Energy Conservation

1. Sustainability Initiatives:
   • Implementation of energy-saving measures across operations.
   • Effective utilization of waste energy to enhance efficiency.
2. Innovation in Energy Efficiency:
   • Focused efforts over the last three years have significantly reduced energy consumption, reinforcing RINL’s position as a leader in sustainable industrial practices.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

RBL Bank Sells Entire 8.16% Stake in DAM Capital Ahead of Initial Public Offering Listing

• RBL Bank has sold its entire 8.16% stake in DAM Capital Advisors through an Offer for Sale (OFS) during the investment bank’s Initial Public Offering (IPO).
• The sale raised ₹163.32 crore for RBL Bank.
• The sale involved 5.77 million equity shares with a face value of ₹2 each, sold at ₹283 per share.
• After the transaction, RBL Bank no longer holds any equity stake in DAM Capital Advisors.
• Prior to the IPO, RBL Bank had also divested06 million shares (1.5% stake) in DAM Capital through a secondary market transaction.
• The transaction occurred as part of DAM Capital Advisors’ IPO listing process.
• This sale eliminates RBL Bank’s stake in DAM Capital, marking a complete divestment.

About RBL Bank :

• Founded : 1943
• Headquarters : Mumbai, Maharashtra
• MD & CEO : R Subramaniakumar
• RBL Bank, formerly known as Ratnakar Bank Limited, is an Indian private sector bank.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Army Contingent Leaves for India-Nepal Joint Military Exercise Surya Kiran

• The 18th edition of Exercise SURYA KIRAN involves the participation of Indian and Nepalese Army contingents.
• The Indian Army contingent consists of 334 personnel and is led by a Battalion from the 11th Gorkha Rifles.
• The Nepal Army contingent will be represented by the Srijung Battalion.
• The exercise will take place in Saljhandi, Nepal, from 31st December 2024 to 13th January 2025.
• Objective of the Exercise:Enhance interoperability between Indian and Nepalese armies in:
• Jungle warfare
• Counter-terrorism operations in mountainous terrains
• Humanitarian Assistance and Disaster Relief (HADR) under the United Nations Charter.
• Improve operational preparedness, aviation operations, medical training, and environment conservation.

Key Highlights :

Focus Areas:

• Refine combat skills and coordination between Indian and Nepalese troops to operate effectively in challenging situations.
• Strengthen bilateral relations between India and Nepal through shared experiences and best practices.
• Significance of the Exercise:The exercise highlights the strong bonds of friendship and trust between India and Nepal.
• It reflects the common cultural linkages and commitment towards defence cooperation and shared security objectives.
• It builds on the successful visits:
  • General Upendra Dwivedi, Chief of Army Staff of India, visited Nepal.
  • General Ashok Raj Sigdel, Chief of Army Staff of Nepal, visited India.
• Alternate Hosting Countries:The exercise is conducted alternatively in India and Nepal on an annual basis.

History :

• The 17th edition of Joint Military Exercise SURYA KIRAN will be conducted in Pithoragarh, Uttarakhand from 24th November to 07th December 2023.
• The 1st edition of this exercise was held in Vairengte (Mizoram) India, in 2011.

About Ministry of Defence :

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

INS Tushil Arrives in Casablanca to Enhance Bilateral Naval Cooperation Between India and Morocco

• INS Tushil arrived at Casablanca, Morocco on 27th December 2024 as part of strengthening bilateral relations and naval cooperation between India and Morocco.
• Morocco, a maritime nation, holds a unique geographical position with coastlines along both the Mediterranean and Atlantic Ocean.
• Objective of the Visit:The visit aims to explore avenues for collaboration between the Indian Navy and Royal Moroccan Navy.
• It seeks to further strengthen naval cooperation, enhance interoperability, and promote diplomatic ties between both countries.
• Previous Naval Engagements:In the past 12 months, three Indian Navy ships – Tabar, Tarkash, and Sumedha visited Casablanca, significantly elevating mutual trust and interoperability between the two navies.
• Activities During the Visit:The crew of INS Tushil will engage with Royal Moroccan Navy personnel at the functional level.
• A Passage Exercise (PASSEX) will be conducted at sea between the two navies to improve interoperability and share best practices.

About INS Tushil:

• INS Tushil was commissioned on 9th December 2024 in Russia.
• It is commanded by Captain Peter Varghese and supported by a team of 250 personnel.
• The ship is on its journey towards its home port in Karwar, where it will continue to promote India’s maritime diplomacy through collaborative exercises with friendly foreign navies.

About Morocco :

• Prime Minister : Aziz Akhannouch
• Capital : Rabat
• Currency : Moroccan dirham (MAD)

Indian Navy Inducts Indigenous Warships ‘Surat’ and ‘Nilgiri’ in Boost to Aatmanirbharta in Defense

• The Indian Navy received two warships: the destroyer Yard 12707 (Surat) and the frigate Yard 12651 (Nilgiri), marking a significant step towards self-reliance (Aatmanirbharta) in defense.
• Both ships were designed and constructed indigenously by the Warship Design Bureau of the Indian Navy and Mazagon Dock Shipbuilders Ltd. (MDL), Mumbai.
• Key Objectives:The induction of these warships aligns with the Government of India’s emphasis on self-reliance and nation-building.
• The simultaneous induction of these state-of-the-art warships enhances the Indian Navy’s operational capabilities and combat readiness.

Key Highlights :

• Details of Surat (Project 15B):Surat is the fourth and final stealth-guided missile destroyer under Project 15B, following Visakhapatnam, Mormugao, and Imphal.
• This marks the completion of the Project 15 series, which began in the late 1990s.
• Surat’s specifications:
  • Displacement: 7,400 tons
  • Length: 164 meters
  • Powered by a Combined Gas and Gas (COGAG) propulsion system with four gas turbines, achieving speeds exceeding 30 knots (56 km/h).
  • Surat will be India’s first AI-enabled warship, integrating indigenously developed AI solutions to enhance operational efficiency.
• Details of Nilgiri (Project 17A):Nilgiri is the first of the Project 17A stealth frigates, following the Shivalik class (Project 17) frigates.
• Nilgiri’s specifications:
  • These multi-mission frigates are capable of operating in a blue water environment, addressing both conventional and non-conventional threats in areas critical to India’s maritime interests.
  • Powered by Combined Diesel or Gas (CODOG) propulsion systems, each comprising a Diesel Engine and Gas Turbine, driving a Controllable Pitch Propeller (CPP).
  • Built using Integrated Construction philosophy, which optimizes construction processes.
• Future of Indigenous Warship Construction:Surat’s delivery culminates the iconic indigenous destroyer building project that includes Project 15 (Delhi class), Project 15A (Kolkata class), and Project 15B (Visakhapatnam class).
• Project 17A includes seven more frigates under construction at MDL, Mumbai and GRSE, Kolkata.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

TARANG: A 64-bit System Designed for Multi-Tasking, Multi-User, and High Uptime Operations

• TARANG is a 64-bit machine, capable of supporting multi-tasking, multi-programming, multi-user and time-sharing environments and a balanced design to have 99.5% uptime with adequate redundancies and to avoid single point of failure so as to meet the operational requirements.
• The HPC system is supported by technical support facilities such as Transformers, Diesel Generators, UPS, Batteries, Multiple utility paths, Lighting system, Adequate no of earthing pits and Cables.
• The compute capacity is about 1 Peta FLOPS, with a 2 Peta Byte storage and 3 Peta Byte archival storage.
• INCOIS will use the new system to run state-of-the-art ocean general circulation models, ocean-atmosphere coupled models, and wave models to operationally forecast ocean variables and extreme ocean weather as well as to meet the objectives of the major initiatives of the MoES such as the Deep Ocean Mission, the Mission Mausum and the Monsoon Mission within a year.
• This facility will help INCOIS to provide Service Level 3 Tsunami warning Services in addition to early warning on Storm surges, High Waves, Swell Surge (Kallakadal) and Extreme currents.
• The workloads of TARANG include
• Operational models for providing Tsunami Early Warnings for India and other 25 countries on the Indian Ocean rim.
• Next generation Ocean State Forecast system with more accurate representation of physical processes, non-hydrostatic dynamics, high resolution nests for local forecasts and advanced data assimilation techniques and
• Developing / improving sophisticated models such as MOM, ROMS, HYCOM, Wave Watch III, SWAN, Tunami N2, ADCIRC leveraging advanced technologies such as Artificial Intelligence and Machine Learning.

European Union Signs Contract for IRIS² Satellite Constellation to Enhance Resilience and Security

• The European Union (EU) announced that it has signed the contract for the Infrastructure for Resilience, Interconnectivity and Security by Satellite (IRIS²), a multi-orbital constellation of 290 satellites.
• Developed in partnership with SpaceRISE, an alliance of leading European satellite operators and space companies, IRIS² may pose a serious threat to SpaceX’s Starlink internet service, which is currently available in more than 100 countries and territories worldwide.

About IRIS² Programme:

• IRIS² is the European Union’s third flagship addressing and is designed to offer connectivity services to governmental users as well as private companies and individuals.
• According to the European Space Agency (ESA), IRIS² will use both Medium Earth Orbit and Low Earth Orbit satellites to provide secure connectivity and high-speed broadband in zones where network connectivity is low or unavailable.
• Its interlinked satellites which comprise of 264 and 18 satellites in low and medium Earth orbits respectively will enable it to offer secure high-speed internet connectivity without needing thousands of satellites.
• The European Space Agency says IRIS² will “support a large variety of governmental applications”, with a focus on border and maritime surveillance, crisis management, connection and security of key infrastructure and security and defence of importance.
• The total cost of the full duration of the 12-year concession contract amounts to €10.6 billion, which roughly translates to $11 billion, with the first launch planned sometime in 2029.

CURRENT AFFAIRS: SPORTS NEWS

Kho Kho World Cup 2025: Salman Khan Appointed Brand Ambassador

• The Kho Kho Federation of India (KKFI) has officially announced Bollywood superstar Salman Khan as the brand ambassador for the inaugural Kho Kho World Cup, scheduled to take place in New Delhi from January 13 to 19, 2025.
• This historic event aims to elevate the traditional Indian sport of Kho Kho to a global platform, featuring participation from 24 countries.

Key Highlights

Event Details

• Dates: January 13 to 19, 2025.
• Location: New Delhi.
• Participants:
  • 21 men’s teams and 20 women’s teams competing from 24 countries.

Salman Khan’s Role

• Brand Ambassador: Salman Khan will promote the sport and its cultural significance.
• Personal Connection: Khan shared his fondness for Kho Kho, reflecting on its deep-rooted connection with Indian traditions.

Deepti Sharma Shines as India Secures a 3-0 Series Sweep Against West Indies

• India’s bowling coach, Aavishkar Salvi, hailed Deepti Sharma as a “modern-day legend” of the final women’s ODI.
• At the Kotambi Stadium, Deepti lived up to the praise, delivering a stellar all-round performance that secured India a five-wicket victory against West Indies and sealed a 3-0 series sweep.

Match Highlights

Deepti Sharma’s Heroics:

• Bowling Figures: A match-winning spell of 6 for 31, dismantling the West Indies batting lineup.
• Batting Contribution: An unbeaten 39 off 48 balls (3×4, 1×6) to anchor the chase.

India’s Bowling Dominance:

• Restricted West Indies to a modest total, thanks to Deepti’s exceptional spell.
• Consistent pressure from the bowling unit ensured no big partnerships.

India’s Chase:

• A calculated chase led by Deepti’s calm and composed innings.
• Crucial contributions from other batters supported the victory.

Sachin Tendulkar Receives Honorary Cricket Membership from the Melbourne Cricket Club (MCC)

• Sachin Tendulkar, the legendary Indian cricketer, was honored with an Honorary Cricket Membership by the Melbourne Cricket Club (MCC), recognizing his immense contribution to the game of cricket.
• The MCC, one of the oldest and most prestigious sports clubs in Australia, announced the news via social media, celebrating Tendulkar’s legacy in the sport.
• MCC’s Legacy: Founded in 1838, the MCC is responsible for managing and developing the iconic Melbourne Cricket Ground (MCG), one of the most celebrated cricket venues globally.

Tendulkar’s Impressive Record at MCG

• Record Holder: Tendulkar holds the record for the most runs at the MCG, having accumulated 449 runs in five Test matches, with an average of 44.90 and a strike rate of 58.69.
• Century and Fifties: His MCG performance includes a century and three fifties, showcasing his consistent form at this legendary venue.

Tendulkar’s Previous Honors

• Order of Australia (2012): Earlier, Tendulkar was awarded the Order of Australia, one of the country’s highest honors, recognizing his global influence and contribution to cricket. He became only the second Indian to receive this honor, after former Indian Attorney General Soli Sorabjee (2006).
• Other Cricketing Legends Honored:
  • West Indies legend Brian Lara received the Order of Australia (AM) in 2009.
  • Clive Lloyd, another West Indies great, was conferred the Honorary Officer in the Order of Australia (AO) in 1985.

CURRENT AFFAIRS : OBITUARIES

Osamu Suzuki, the Leader Who Introduced Japanese Automaker to India, Passed Away

• Osamu Suzuki, the long-serving leader of Suzuki Motor Corporation, passed away on December 25, 2024, at the age of 94.
• Suzuki led the company for over four decades, transforming it into a global automotive giant.

About Osamu Suzuki :

• Born as Osamu Matsuda on January 30, 1930, in Gifu, Japan, he joined Suzuki Motor Corporation in 1958 after marrying into the Suzuki family.
• He became president of the company in 1978.
• Under Suzuki’s leadership, the company introduced the Alto minicar in 1979, which revitalized Japan’s domestic mini-vehicle market.
• He pursued a strategy of entering smaller, overlooked markets by establishing production bases in countries like Pakistan and Hungary.
• Suzuki expanded globally, forming key partnerships with General Motors and Volkswagen to enhance the company’s presence in North America and Europe.
• In 1982, he partnered with the Indian government to create Maruti Udyog, which later became Maruti Suzuki.
• The Maruti 800 hatchback, launched in 1983, revolutionized the Indian automobile industry by offering affordable, fuel-efficient transportation to middle-class families.
• Maruti Suzuki continues to be the largest carmaker in India, holding around 40% market share.

Abdul Rehman Makki, Deputy Leader of Pakistan-based LeT, Passed Away

• Hafiz Abdul Rahman Makki, deputy chief of Pakistan-based terrorist group Jamaat-ud-Dawa (JuD), died due to a heart attack in Lahore.

About Hafiz Abdul Rahman Makki :

• Makki was implicated in terror financing related to the 26/11 Mumbai terror attacks (2008), which resulted in 164 deaths.
• In 2020, he was sentenced to six months of imprisonment in a terror financing case by an anti-terrorism court in Pakistan.
• In January 2023, he was designated a global terrorist by the United Nations, resulting in an assets freeze, travel ban, and arms embargo.
• He was allegedly involved in the 2000 Red Fort attack, where six Lashkar-e-Taiba (LeT) terrorists opened fire on security forces, killing three people.
• He was a close aide of Hafiz Saeed, the mastermind of the 26/11 Mumbai attacks, and had been maintaining a low profile after his imprisonment.
• JuD, under Hafiz Saeed’s leadership, was designated a terrorist organization due to its links to LeT. Following the ban on LeT, JuD operated as a ‘charitable front’ for the group.
• The Pakistan Mutahida Muslim League (PMML) described Makki as an advocate of Pakistan’s ideology.

Former Indian Prime Minister Manmohan Singh Passed Away

• India’s former prime minister Manmohan Singh, who steered the country through sweeping reforms and paved the way for its emergence as a global economic powerhouse, passed away at the age of 92 in New Delhi.

About Manmohan Singh :

• Singh was born on 26 September 1932, in Gah, Punjab, British India.
• He was an Indian politician, economist, academic, and bureaucrat, who served as the 13th prime minister of India from 2004 to 2014.
• He was the 4th longest-serving prime minister after Jawaharlal Nehru, Indira Gandhi and Narendra Modi.
• He was the first Sikh Prime Minister of India and the first non-Hindu to hold the post.
• In 1972, Singh was chief economic adviser in the Ministry of Finance, and in 1976 he was secretary in the Finance Ministry.
• In 1980–1982 he was at the Planning Commission, and in 1982, he was appointed 15th governor of the Reserve Bank of India under then finance minister Pranab Mukherjee and held the post until 1985.
• He served as the 10th Leader of the Opposition in Rajya Sabha from 21 March 1998 – 21 May 2004.

Legacy and Key Contributions:

• Led India’s economic liberalization and introduced critical reforms.
• Pivotal in key projects like the National Rural Health Mission, Right to Information Act, and Unique Identification Authority (Aadhaar).

Awards and Honors:

• Padma Vibhushan (1987) – India’s second-highest civilian honor.
• Jawaharlal Nehru Birth Centenary Award (1995).
• Outstanding Parliamentarian Award (2002).
• Wright Prize (1995) and Adam Smith Prize (1996) – Recognized for academic achievements.
• International Honors:
• Order of King Abdulaziz (2010) from Saudi Arabia.
• Order of the Paulownia Flowers (2014) from Japan.

Global Recognition:

• Ranked 19th Most Powerful Person in the World by Forbes (2011).
• Ranked 20th (2012) and 28th (2013) in the same list.

Indian National Lok Dal supremo and former Haryana chief minister Om Prakash Chautala passed away

• Indian National Lok Dal (INLD) supremo and former Haryana chief minister Om Prakash Chautala passed away in Gurugram.

About Om Prakash Chautala :

• Om Prakash Chautala, son of former Deputy Prime Minister of India Chaudhary Devi Lal, served as the 7th chief minister of Haryana.
• Chautala was elected to the Rajya Sabha in 1987 and served until 1990.
• In December 1989, he became Haryana’s chief minister, replacing his father who had been appointed as the deputy PM of India.
• Chautala has served as the CM of Haryana from December 1989 to May 1990; July 1990 to July 1990; from March 1991 to April 1991 and, finally, from July 1999 to March 2005.

Daily CA One- Liner: December 29 & 30

• Queen’s University Belfast and Coventry University, two prestigious UK institutions, have applied to set up international campuses at Gujarat’s GIFT City, continuing the trend of global educational expansion in India.
• Prime Minister Narendra Modi presided over the 45th PRAGATI (Pro-Active Governance and Timely Implementation) meeting emphasizing the importance of efficient grievance resolution and timely project execution
• On Good Governance Day, Jitendra Singh introduced the ‘Viksit Panchayat Karmayogi’ initiative, which aims to empower Panchayati Raj Institutions (PRIs) to decentralize governance effectively
• Researchers at IIT Bombay, led by Viren Menezes from the Department of Aerospace Engineering, have developed a needle-free solution for drug delivery: the shock syringe.
• India achieved a major milestone in its defence sector during the fiscal year 2023-24, with significant growth in both defence exports and indigenous production.
• China has approved the construction of the world’s largest hydropower dam on the Yarlung Zangbo River (Brahmaputra) in Tibet, near the Indian border. With an estimated cost of $137 billion, this ambitious project is poised to surpass the Three Gorges Dam in scale.
• Rashtriya Ispat Nigam Limited (RINL), the corporate entity of the Visakhapatnam Steel Plant (VSP), has been awarded the Gold Award at the Andhra Pradesh State Energy Conservation Award 2024
• The Kho Kho Federation of India (KKFI) has officially announced Bollywood superstar Salman Khan as the brand ambassador for the inaugural Kho Kho World Cup, scheduled to take place in New Delhi from January 13 to 19, 2025.
• India’s bowling coach, Aavishkar Salvi, hailed Deepti Sharma as a “modern-day legend” of the final women’s ODI.
• Sachin Tendulkar, the legendary Indian cricketer, was honored with an Honorary Cricket Membership by the Melbourne Cricket Club (MCC), recognizing his immense contribution to the game of cricket.
• The Reserve Bank of India (RBI) has allowed UPI payments from/to full-KYC Prepaid Payment Instruments (PPIs) through third-party UPI applications, as announced in its April 2024 Statement on Development and Regulatory Policies.
• An Alternate Investment Fund (AIF) from an Indian financial services company has become the 200th fund to be granted approval in GIFT City in Gujarat that now houses 13 AIFs that have relocated to India from foreign jurisdictions like Singapore, Mauritius and Dubai.
• The Central Bank of Sri Lanka’s Financial Intelligence Unit has imposed a penalty on state-owned Indian Bank for failing to comply with the Financial Transactions Reporting Act (FTRA) No.6 of 2006 in Sri Lanka.
• YES BANK, the sixth-largest private sector bank in India, in collaboration with FICCI FLO, South East Asia’s largest women’s chamber of commerce, announced the launch of YES PowherUp, a specialised MSME programme designed to empower women entrepreneurs in scaling their businesses.
• Aditya Birla Capital has become the first BFSI company to offer all three core financial services lending, insurance, and mutual fund investments on the Open Network for Digital Commerce (ONDC) platform.
• Mahindra Tractors, a part of Mahindra & Mahindra Limited, has partnered with Punjab National Bank (PNB) to offer channel finance solutions to Mahindra Tractors’ dealers.
• Tata Power Renewable Energy Limited (TPREL), a Tata Group subsidiary, has partnered with Canara Bank to promote rooftop solar systems under the PM Surya Ghar Muft Bijli Yojana.
• Federal Bank, announced a partnership with Ecofy, India’s first green-only NBFC, backed by Eversource Capital, to offer innovative financing solutions for MSMEs investing in commercial rooftop solar installations.
• Kotak Mahindra Bank has launched the Kotak BizLabs accelerator programme as part of its Corporate Social Responsibility (CSR) initiatives.
• HSBC (Hongkong and Shanghai Banking Corporation Limited) India and Indian Hotels Company have launched the HSBC Taj Credit Card, India’s first premium co-branded hospitality credit card.
• The Securities and Exchange Board of India (SEBI) has granted an additional three years of time to the Life Insurance Corporation of India (LIC) to achieve 10% public shareholding.
• The Indian government has approved a capital infusion of Rs 500 crore into the state-owned Industrial Finance Corporation of India (IFCI) to improve its financial health.
• China has approved the construction of the world’s largest dam, stated as the planet’s biggest, on the Brahmaputra river in Tibet near the Indian border.
• The Royal Thai Embassy in New Delhi has officially announced the launch of Thailand’s Electronic Visa (e-Visa) system for Indian nationals, set to roll out on January 1, 2025.
• Over 40 lakh ghost beneficiaries have been detected in Odisha during the ongoing e-KYC verification for the Public Distribution System (PDS).
• RBL Bank has sold its entire 8.16% stake in DAM Capital Advisors through an Offer for Sale (OFS) during the investment bank’s Initial Public Offering (IPO).
• The 18th edition of Exercise SURYA KIRAN involves the participation of Indian and Nepalese Army contingents.
• INS Tushil arrived at Casablanca, Morocco on 27th December 2024 as part of strengthening bilateral relations and naval cooperation between India and Morocco.
• The Indian Navy received two warships: the destroyer Yard 12707 (Surat) and the frigate Yard 12651 (Nilgiri), marking a significant step towards self-reliance (Aatmanirbharta) in defense.
• TARANG is a 64-bit machine, capable of supporting multi-tasking, multi-programming, multi-user and time-sharing environments and a balanced design to have 99.5% uptime with adequate redundancies and to avoid single point of failure so as to meet the operational requirements.
• The European Union (EU) announced that it has signed the contract for the Infrastructure for Resilience, Interconnectivity and Security by Satellite (IRIS²), a multi-orbital constellation of 290 satellites.
• Osamu Suzuki, the long-serving leader of Suzuki Motor Corporation, passed away on December 25, 2024, at the age of 94.
• Hafiz Abdul Rahman Makki, deputy chief of Pakistan-based terrorist group Jamaat-ud-Dawa (JuD), died due to a heart attack in Lahore.
• India’s former prime minister Manmohan Singh, who steered the country through sweeping reforms and paved the way for its emergence as a global economic powerhouse, passed away at the age of 92 in New Delhi.
• Indian National Lok Dal (INLD) supremo and former Haryana chief minister Om Prakash Chautala passed away in Gurugram.