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CURRENT AFFAIRS : BANKING & FINANCE
India Secures ₹932 Crore Loan from JICA for Sustainable Development Goals Implementation
- Japan International Cooperation Agency (JICA) has finalised a loan of approximately ₹932 Crore to support Sustainable Development Goals (SDGs) initiatives in India.
- This loan will fund projects overseen by NITI Aayog.
Key Highlights :
- These projects are set to impact 112 aspirational districts and 500 aspirational blocks nationwide.
- The initiatives will concentrate on promoting policy actions, implementing effective practices, and enhancing the Japan-India partnership through the exchange of human resources.
- Based on consultations with NITI Aayog, policy actions in 5 fields, such as health and nutrition, education, agriculture and water resources, financial inclusion and skill development, and basic infrastructure are prioritised and identified as policy matrix pillars in those fields.
- In the health sector, focus will be on bolstering regional healthcare systems and improving maternal and child nutrition to achieve SDGs.
- Educational initiatives will aim to enhance learning outcomes, foster inclusive school environments, and maintain hygienic educational facilities.
- Agricultural and water resource projects under NITI Aayog will aim to increase farmers’ income and improve the efficacy of agricultural producer associations through the cultivation of diverse and high-value crops.
- In January 2019, JICA had signed an initial loan agreement with India for about ₹950 crore, marking the first phase of the “Program for Japan-India Cooperative Actions towards Sustainable Development Goals in India.”
- As part of the second phase, running from April 2021 to March 2026, JICA will monitor and evaluate the quantitative and qualitative outcomes of these policy actions across 3 tranches.
About JICA :
- Headquarters : Tokyo, Japan
- President : Tanaka Akihiko
- The JICA is a governmental agency that delivers the bulk of Official Development Assistance (ODA) for the government of Japan.
RBI Grants 1-Year Extension for Bajaj Finance, RBL Bank’s Co-Branded Credit Cards
- India’s central banking authority, the Reserve Bank of India (RBI), has approved a 1-year extension, until 21st December 2024 for the co-branded credit cards offered by Bajaj Finance Limited and RBL Bank Limited.
- RBI has pointed out serious deficiencies in Bajaj Finance’s adherence to RBI norms.
- A further extension from the current one-year period is subject to a review.
- RBL Bank and Bajaj Finance Limited have a long-standing co-brand partnership arrangement which was renewed in December 2021 for 5 years.
- In 2021, RBL and Bajaj Finance had declared a co-branded partnership agreement for 5 years.
- They had initially received a 2-year permit from the RBI.
- However, when it applied for an extension this year, the regulator gave it only for a year.
- Currently, many non-banking financial companies like Bajaj Finance are offering credit cards to their customers by partnering with banks.
- The company’s parent Bajaj Finserv has co-branded partnerships with RBL Bank and DBS Bank.
Bank of Maharashtra unveils Comprehensive Suite of New Products and Services
- Bank of Maharashtra (BoM) , a premiere public sector bank in the country, introduced a comprehensive range of cutting-edge products and services designed to redefine the banking experience.
- BoM launched more than 100 innovative products and services across various platforms, including Mobile Banking, Internet Banking, WhatsApp Banking, Credit Card services, and Digital Products.
- The goal is to redefine the banking experience and meet the evolving needs of customers.
Key Highlights :
- Digital Transformation and Operational Upgrades : The bank implemented Straight Through Process (STP) journeys in PMSVANidhi and Digital Mudra schemes.
- Automated renewal of Working Capital Limits for MSME borrowers up to 10.00 lakhs to simplify the credit renewal process without the need to visit branches.
- Enhanced Customer Convenience : In order to increase customer convenience, the Bank has launched a virtual debit card, opening of e-FD (e-Fixed Deposits) and e-RD (e-Recurring Deposits) and Positive Pay System (PPS) on its mobile banking platform.
- It also implemented an Online Dispute Resolution (ODR) platform via Mobile and Internet Banking for swift dispute resolution of digital transactions, self-enrolment options for internet banking customers, online Public Provident Fund (PPF) account opening, Updation of Know Your Customer (KYC), application for insurance policies among many other schemes were added to its Internet Banking platform for greater convenience to its customers.
- WhatsApp Banking Features : To effectively cater to new-age banking users, the Bank has enhanced features on its WhatsApp banking service (+91-7066036640) such as customers can now warmlist, hotlist, and modify debit card limits for various channels such as POS, E-commerce and ATM through WhatsApp Banking along with that customers can now access detailed information about existing Fixed Deposits including their value, term, rate of interest and maturing data along with the option of downloading a CIF based consolidated PDF format of all deposit and loan accounts providing a 360-degree insight of all accounts of customers with the Bank WhatsApp Banking platform.
- Swift and Efficient Transactions : For efficient transactions, the Bank simplified the process of sending Domestic Letter of Credits (LCs) and Bank Guarantees (BGs) through SWIFT and launched special schemes such as Mahabank Equipment Finance & a scheme to extend finance to units engaged in growing and manufacturing of Lab Grown Diamonds in a move to support MSME Enterprises and promote economic development.
- Other schemes such as PM Vishwakarma Scheme and Maha Mahila Unnati aim to strengthen products and services offered by artisans and empower women-led enterprises.
About BoM :
- Established : 16 September 1935
- Headquarters : Pune, Maharashtra
- MD & CEO : A. S. Rajeev
- Tagline : One Family One Bank
CURRENT AFFAIRS: NATIONAL NEWS
85 Percent of VGF-funded BESS Power Reserved for Discoms:
- The Union Minister for Power, New & Renewable Energy has informed that the Government has approved the scheme for Viability Gap Funding (VGF) for the development of Battery Energy Storage Systems (BESS) with a capacity of 4,000 megawatts hours (MWh).
- This scheme envisages the development of 4,000 MWh of BESS projects by 2030-31.
- Financial support of up to 40% of the capital cost as budgetary support in the form of Viability Gap Funding (VGF) is provided by the union government.
- The projects under the scheme will be approved during a period of 3 years (2023-24 to 2025-26).
- The VGF shall be disbursed in five tranches linked with the various stages of implementation of BESS projects.
- By offering VGF support, the scheme targets achieving a Levelized Cost of Storage (LCoS) ranging from Rs. 5.50-6.60 per kilowatt-hour (kWh), making stored renewable energy a viable option for managing peak power demand across the country.
- For passing on the scheme to consumers of the Discoms, at least 85% of the power from VGF-funded BESS projects shall be first off ered to Discoms before making it available for others.
- The selection of BESS developers for VGF grants will be carried out through a transparent, competitive bidding process, promoting a level playing field for both public and private sector entities.
- This will not only enhance the integration of renewable energy into the electricity grid but also minimise wastage while optimising the utilisation of transmission networks.
- This will reduce the need for costly infrastructure upgrades.
- The competitive bidding process approach will foster healthy competition and encourage the growth of a robust ecosystem for BESS, attracting significant investments and generating opportunities for associated industries.
- This scheme is designed to harness the potential of renewable energy sources such as solar and wind power; the scheme aims to provide clean, reliable, and affordable electricity to the citizens.
UGC alerts students against pursuing MPhil as it is no longer recognized degree
- University Grant Commission has issued a notification, alerting students against pursuing an MPhil degree as it is no longer recognised.
- The commission has also warned universities against offering the programme and admissions for the 2023-24 academic year are prohibited.
- However, the MPhil degree awarded till the date of notification of new regulations, issued in 2022, will remain valid.
- The commission has come to the knowledge that few universities are inviting fresh applications for the MPhil (Master of Philosophy) programme.
- MPhil degree is not a recognised degree now.
- UGC highlighted that the notification emphasized Regulation No. 14 of the UGC (Minimum Standards and Procedures for Award of PhD Degree) Regulations 2022, which prohibits higher educational institutions from offering MPhil programmes.
- UGC had earlier declared the MPhil degree illegitimate, instructing higher educational institutions not to offer MPhil programmes.
Centre declares Muslim League Jammu Kashmir (Masarat Alam faction) as unlawful association under UAPA
- The Muslim League Jammu Kashmir (Masarat Alam faction) MLJK-MA has been declared as an ‘Unlawful Association’ under the Unlawful Activities (Prevention) Act (UAPA).
- Union Home Minister Amit Shah in a social media post this organization and its members are involved in anti-national and secessionist activities in Jammu and Kashmir, supporting terrorist activities and inciting people to establish Islamic rule in Jammu and Kashmir.
- Mr Shah, Prime Minister Narendra Modi Government’s message is loud and clear that anyone acting against the unity, sovereignty, and integrity of the nation will not be spared and face the full wrath of the law.
National Startup Advisory Council reconstituted; non-official members nominated
- Upon completion of the year term of the ‘National Startup Advisory Council (NSAC), the Central Government has nominated non-official members on the National Startup Advisory Council representing various stakeholders such as founders of successful startups, veterans.
- The two-year journey of NSAC has become a key example for stakeholder-driven public policy regime and has played a pivotal role in devising programs and measures to cater to the evolving requirements of the Indian startup ecosystem.
- The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry had constituted the ‘National Startup Advisory Council’ dated 21st January 2020.
- Further, as per the gazette, the term of the non-official members of the National Startup Advisory Council shall be for a period of two years or until further orders, whichever is earlier.
Telecommunications Bill 2023: Landmark law gets President’s assent
- The landmark Telecommunications Bill, which was passed by Parliament recently, has received the President’s assent.
- The Telecommunications Act, 2023′ is set to overhaul the country’s century-old telecom law to make the sector investor-friendly; it prioritises user protection but also extends powers to the government.
- It supersedes the existing and archaic regulatory framework for the telecommunication sector, based on the Indian Telegraph Act, of 1885, the Wireless Telegraphy Act (1933), and the Telegraph Wires (Unlawful Possession) Act (1950).
- It replaces over 100 types of licences with authorisation focussed on three aspects — providing telecommunication services, operating and expanding telecommunication networks and possessing radio equipment.
Key Highlights
- The bill has attempted to tighten noose on pesky callers through various means including by checking misuse of sim.
- Impersonation and acquisition of SIM fraudulently using someone else’s identity proof for telecom services will be punishable with imprisonment for a term up to three years and a fine of up to Rs 50 lakh.
- Anyone causing damage to the telecommunication network will be liable for compensation for the damage caused and fine which may extend up to Rs 50 lakh.
- Also, the bill significantly lowers the penalty cap on telecom operators to Rs 5 crore; it was earlier as high as Rs 50 crore in a telecom circle level and Rs 1,100 crore at pan-India level.
- Interception of phone communications illegally, unauthorised data transfer or attempting to gain access to a telecommunication network will soon be punishable by imprisonment for a period of up to three years or a fine of up to Rs 2 crore.
CURRENT AFFAIRS : STATE NEWS
Uttar Pradesh Plans to Develop India’s First AI City in Lucknow
- Uttar Pradesh (UP) is taking a step forward in promoting plans to build India’s first Artificial Intelligence (AI) City in Lucknow.
- According to a report by Grand View Research, the global AI market size was $137 billion in 2022 and is anticipated to grow at a compound annual growth rate of 37.3% from 2023 to 2030.
Key Highlights :
- Lucknow’s Expertise in AI and MedTech : Lucknow has established centers of excellence in fields such as AI and MedTech, showcasing extensive integration of AI technologies.
- AI Center of Excellence at IIIT Lucknow : The AI Center of Excellence (CoE) at IIIT Lucknow supports over 15 AI/ML start-ups, fostering a culture of creativity and entrepreneurship.
- Government Support and Land Allocation : The government will provide 40 acres of land in the Nadarganj Industrial Area for this project, free from all encumbrances, and support of land acquisition, zoning regulations, and other relevant clearances.
- Financial Incentives for Developers : Financial assistance will be provided to the developer through attractive financial incentives.
- This includes one-time capex support of 25% up to ₹20 crores for IT Parks and ₹100 crores for IT Cities and 100% stamp duty exemption as per the IT and ITES Policy, 2022.
- UP Electronics Corporation Limited. serves as the nodal agency for the AI City project.
About UP :
- Governor : Anandiben Patel
- Chief Minister : Yogi Adityanath
- Capital : Lucknow
- National Park : Dudhwa National Park
- Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary
Bihar Police to launch ‘Mission Investigation 75 days’ from January 1 2024
- The ‘Mission Investigation@75 days’ will be launched by the Bihar Police from January 1, 2024.
- Bihar Police has decided to make it mandatory for investigators to complete the investigation of cases within 75 days of the filing of FIR from January 1, 2024.
- The performance of all police stations and district police will also be reviewed on a monthly basis from January 1, 2024.
- Bihar government is preparing to take several measures from January 1, 2024, to make the state police more people-friendly and accountable.
- Its main focus is to improve the quality of investigations.
- Bihar Police is also gearing up to bring about an overhaul of the criminal justice system following the gazette notification by the Center of new laws passed to replace the Indian Penal Code (IPC), Code of Criminal Procedure (CrPC), and the Evidence Act.
About Bihar :
- Governor : Rajendra Arlekar
- Chief Minister : Nitish Kumar
- Capital : Patna
CURRENT AFFAIRS: BUSINESS NEWS
Coal Production Touches 664.37 Million Tonne during FY 2023-24 up to 25th December
- As per the latest statistics of the Ministry of Coal, the cumulative achievement in coal production during FY’ 2023-24 from April 2023 to 25th December 2023, has touched 664.37 million tonne (MT), indicating a substantial 12.29% growth compared to the corresponding period last year at 591.64 MT.
- In terms of coal dispatch, the Cumulative achievement in FY’ 2023-24 from April 2023 to 25th December 2023 amounted to 692.84 MT, indicating a noteworthy 11.32% growth compared to the corresponding period of the previous year at 622.40 MT.
- This increase ensures a consistent and robust coal supply to meet the energy needs of the power sector.
- Furthermore, the overall coal dispatch to power sector from April 2023 to 25th December 2023 increased by an impressive 8.39%, reaching 577.11 MT compared to 532.43MT during the corresponding period of the previous year.
- Overall coal stock position, including mines, thermal power plants (DCB), transit, etc., reached 91.05 MT, showing a commendable 21.57% growth from 74.90 MT on 25.12.22.
- Additionally, Pithead Coal Stock at Coal India Limited (CIL) on 25.12.23 stands at 47.29 MT, demonstrating a notable growth of 53.02% compared to the coal stock of 30.88 MT on 25.12.22.
Key Highlights
- The Ministry of Coal assures an ample coal supply to meet the growing energy demand in the country. Efficient coal supply to Thermal Power Plants (TPPs) has resulted in robust coal stock levels at various pitheads, highlighting the effectiveness of the coal supply chain in ensuring seamless distribution nationwide.
- This higher coal stock position reflects the commitment of the Ministry of Coal to maintaining an ample coal supply and underscores effective stock management strategies and operational efficiency and consistent coal supply to meet the energy needs of the power sector.
- Moreover, the uninterrupted availability of Coal Rakes, crucial for coal transportation, ensures a smooth evacuation process, effectively addressing transportation bottlenecks and guaranteeing a seamless coal supply.
- With a commitment to continuous and comprehensive monitoring and evaluation of all operations, the Ministry of Coal significantly contributes to this impressive growth.
- The Ministry remains unwavering in its dedication to ensuring a reliable and uninterrupted power supply by embracing cutting-edge technological advancements, thus paving the way for a self-reliant Atmanirbhar Bharat.
India’s e-retail market estimated to cross USD 160 billion by 2028
- E-retail in India is expected to surge past USD 160 billion (over Rs 13 lakh crore) mark by 2028, a report released by Bain & Company in collaboration with Flipkart.
- The E-retail market is expected to be around USD 57-USD 60 billion (Rs 4.75 lakh crore to 5 lakh crore) in 2023, with an annual shopper base of around 240 million representing an annual addition of USD 8-12 billion in
- According to the report, the majority of India’s retail spend (94-95 per cent) continues to be offline, with general trade accounting for 87 per cent of the overall retail spend.
- More than half of the total seller base hails from 7 cities, namely Delhi NCR, Surat, Jaipur, Mumbai, Bengaluru, Hyderabad, and Kolkata
CURRENT AFFAIRS: AWARDS AND HONOURS
ISRO bags Leif Erikson Lunar Prize for Chandrayaan-3
- ISRO has been awarded the Leif Erikson Lunar Prize by the Husavik Museum for its achievements in advancing lunar exploration and contributing to understanding celestial mysteries through the successful Chandrayaan-3 mission.
- The accolade recognizes ISRO’s indomitable spirit and technological prowess in achieving the first-ever soft landing near the Moon’s South Pole on August 23, 2023.
- The Leif Erikson Lunar Prize is an annual award presented by the Exploration Museum in Husavik, Iceland.
- It is dedicated to the history of human exploration, from the early explorers to the exploration of space.
- It is named after the Icelandic explorer Leif Erikson who is considered the first European to land in North America.
About Indian Space Research Organisation
- Headquarters: Bengaluru
- Founder: Vikram Sarabhai
- Founded: 15 August 1969
Mumbai professor wins prestigious award for contribution to chemistry
- Professor Savita Ladage from Mumbai’s Homi Bhabha Centre for Science Education (HBCSE), Tata Institute of Fundamental Research (TIFR) has been named winner of the Royal Society of Chemistry’s (RSC) Nyholm Prize for Education in recognition of her contribution to chemistry education.
- It is awarded to inspirational, innovative and dedicated individuals or teams making a substantial and sustained impact within education.
- This prize was established to commemorate the life and work of Sir Ronald Nyholm, president of the Royal Society of Chemistry from 1968 to 1970.
- The prize alternates between being open to nominees both in the UK and Ireland and internationally, and open only to nominations from the UK and Ireland.
- For 2023, the prize was open to nominees based anywhere in the world.
- The winner(s) receives £5000, a medal and a certificate.
- The winner(s) will complete a series of lectures or workshops in the UK.
- The winner(s) will be chosen by the Education Prize Committee.
CURRENT AFFAIRS : DEFENCE NEWS
INS Imphal – Indian Navy’s indigenous destroyer to be commissioned
- Indian Naval Ship (INS) Imphal, the third warship of Project 15B forming the Visakhapatnam class stealth-guided missile destroyers, is set to be commissioned into the Indian Navy.
- The commissioning of INS Imphal holds special significance, being the largest and most advanced destroyer named after a city from the northeast.
- The Visakhapatnam class is recognized as one of the most advanced ship classes in the Indian Navy, capable of independent offensive operations.
- Project 15B – Under this initiative, Visakhapatnam Class 4 warships (Visakhapatnam, Mormugao, Imphal, Surat) were planned.
- The Visakhapatnam and Mormugao are already commissioned in the Indian Navy.
About INS Imphal:
- INS Imphal is the first warship to have been named after a city from the Northeastern region, the approval for which was accorded by the President in April 2019.
- The naming of the ship after the capital city of Manipur underlines the importance of the Northeastern region for national security and prosperity.
- Built by Mazagon Dock Limited, the ship boasts a high indigenous content of approximately 75% that includes BrahMos surface-to-surface missiles, medium-range surface-to-air missiles, anti-submarine indigenous rocket launchers, and 76mm super rapid gun mount.
- The ship is a part of Project 15B (Visakhapatnam class) and follows the lineage of indigenous destroyers like Project 15A (Kolkata class) and Project 15 (Delhi class).
- With a length of 163 metres and 7,400 tons displacement, Imphal is a formidable naval presence.
- The ship is a potent and versatile platform equipped with state-of-the-art weapons and sensors, including surface-to-air missiles, anti-ship missiles, and
- Imphal is equipped to fight under Nuclear, Biological, and Chemical (NBC) warfare conditions and has a high degree of automation and stealth features further enhancing its combat capability and survivability.
- Powered by Combined Gas and Gas (COGAG) propulsion, the ship is capable of achieving speeds above 30 knots (56 km/hour).
- INS Imphal can rightfully be regarded as one of the most potent warships to have been constructed in India and is a testament to India’s growing shipbuilding prowess in pursuit of the national vision of ‘Aatmanirbhar Bharat’.
- The ship was delivered to the Indian Navy on October 20 after completion of a rigorous and comprehensive trial programme both in the harbour and at sea. Subsequently, the ship successfully test-fired the extended-range supersonic BrahMos missile last month, a first for any indigenous warship before commissioning.
- After being commissioned, the ship will join the Western Naval Command.
About Ministry of Defence :
- Defence Minister : Rajnath Singh
- Minister of State : Ministry of Defence
- Defence Secretary : Giridhar Aramane
8th edition of Indian Ocean Naval Symposium Conclave of Chiefs concludes in Bangkok, Thailand
- The 8th edition of Indian Ocean Naval Symposium (IONS) Conclave of Chiefs (CoC) was conducted by the Royal Thai Navy at Bangkok, Thailand.
- Naval chiefs and senior representatives of 27 member countries and observer countries participated in this conference.
- Admiral R Hari Kumar, Chief of the Naval Staff, represented three members of the Indian delegation.
Key Highlights :
- During the Conclave of Chiefs, Thailand assumed the duties of Chair of IONS and the Work Plan for next two years was finalised.
- As a first, Flag designed by India was selected as the IONS Flag.
- India also took over as the co-Chair of IONS Working Groups on Maritime Security and HADR for the forthcoming cycle.
- The Republic of Korea Navy was welcomed by the Conclave as the latest ‘Observer’, raising the collective strength of IONS to 34 (25 Members & 09 Observers).
- During the Conclave, CNS, IN held fruitful interaction with the host, Adm Adoong Pan-Iam, Commander-in-Chief, Royal Thai Navy and complimented him for taking over Chairmanship of IONS.
- On the side-lines of Conclave, the CNS also visited Indian Naval Ship Kadmatt, at Bangkok, and interacted with the ship’s crew, commending them for successful long range deployment.
About IONS :
- IONS was conceived by the Indian Navy in 2008 as a forum which seeks to enhance maritime cooperation among Navies of the littoral states of the Indian Ocean Region by providing an open and inclusive platform for discussions on regionally relevant maritime issues that would lead to common understanding on the way ahead.
- The inaugural edition of IONS was held in Feb 2008 at New Delhi, with the Indian Navy as the Chair for two years (2008 – 2010).
- India is also scheduled to take over as the Chair of IONS (2025-27) during 9th CoC planned to be conducted in India at the end 2025.
CURRENT AFFAIRS: SPORTS NEWS
Coca-Cola extends global partnership with ICC
- Beverage major Coca-Cola has renewed its partnership with the International Cricket Council (ICC), securing an eight-year commitment that stretches through 2031, encompassing all major ICC world events in various cricket formats.
- This move solidifies one of ICC’s longest-ever associations with a single brand, continuing a partnership that began in 2019.
- Coca-Cola’s association with major sports events is a long-standing tradition, highlighted by its eight-decade-long relationship with the Olympics and over forty years with FIFA and the T20 World Cup.
About ICC
- Headquarters: Dubai, United Arab Emirates
- Founded: 15 June 1909
- CEO: Geoff Allardice
- Chairman: Greg Barclay
IOA constitutes Ad Hoc committee to supervise operations of Wrestling Federation of India
- The Indian Olympic Association (IOA) constituted an Ad Hoc committee comprising Bhupinder Singh Bajwa as Chairman, MM Somaya and Manjusha Kanwar as Members.
- The committee is given the responsibility to observe and supervise the operations of the Wrestling Federation of India (WFI).
- It will also handle the tasks related to athlete selection, and submitting entries for athletes to participate in international events, among others.
- The Indian Olympic Association stated that in its order, that it has found that the recently appointed President and officials of WFI have made arbitrary decisions in violation of constitutional provisions.
- The officials overturned the rulings of the IOA-appointed ad hoc committee without following due process.
- This not only highlights a governance gap within the Federation but also signifies a noticeable departure from established norms.
CURRENT AFFAIRS : SCIENCE & TECHNOLOGY
China launched 3 satellites into orbit from south china sea
- China successfully launched a Long March-11 carrier rocket into space, sending 3 satellites into planned orbit.
- The Taiyuan Satellite Launch Center launched the rocket from waters off the coast of Yangjiang, south China’s Guangdong province.
- The satellites, Shiyan-24C, will be mainly used for space science and technology experiments.
- It was the 503rd mission of the Long March carrier rocket series.
About Shiyan-24C satellites :
- The Shiyan-24C satellites were developed by the Shanghai Academy of Spaceflight Technology (SAST) and have the capability to carry out extensive space technology tests.
- The Long March 11 rocket model, with a length of 20.8 metres, a diameter of 2 metres, and a liftoff weight of 58 metric tons, is capable of sending satellites to low-Earth orbit or sun-synchronous orbit.
- The China Aerospace Science and Technology Corporation (CASC), the primary contractor for the Chinese space program, has been instrumental in these developments.
About China :
- President: Xi Jinping
- Capital: Beijing
- Currency : Renminbi
China launched 2 MEO satellites to mega BeiDou constellation
- The BeiDou Satellite Navigation System, also known as the BDS – China’s largest space-borne infrastructure to date that provides quality services to worldwide users – added two more satellites to its mega constellation.
- Carrying the 57th and the 58th satellites of the BDS system, a Long March-3B carrier rocket and the Yuanzheng-1 upper stage attached to the carrier rocket thundered into the sky from the Xichang Satellite Launch Center in Southwest China’s Sichuan Province.
- The launch marked the first mission of sending two MEO satellites in one go to the BDS-3 since the system was completed and officially commissioned in 2020, and also the finale of the Xichang Satellite Launch Center for the year 2023.
- As of 2022, the core industrial scale of China’s BDS has topped 140 billion yuan ($19.62 billion).
- With the successful launch of the two new MEO satellites, the BDS now has 15 BeiDou-2 satellites and 33 BDS-3 satellites.
NASA’s OSIRIS-REx Spacecraft, Renamed OSIRIS-APEX
- In an unprecedented extension of its celestial duties, the spacecraft that delivered asteroid samples from Bennu, OSIRIS-REx, has embarked on a new mission, and NASA has renamed it as OSIRIS-APEX.
- It is a mission to study the physical changes to asteroid Apophis that will result from its rare close encounter with Earth in April 2029.
Key Highlights :
- In April 2029, Apophis’ orbit will bring it within 20,000 miles (32,000 kilometres) of Earth’s surface closer to Earth than our highest-altitude satellites.
- Mission Objectives : OSIRIS-APEX aims to observe and analyze the physical changes induced by Earth’s gravitational pull during Apophis’ close flyby.
- These changes could include alterations in the asteroid’s orbit, rotation speed, and surface features such as quakes or landslides.
- Spacecraft Maneuvers : The OSIRIS-APEX spacecraft will execute maneuvers to dip toward the surface of asteroid Apophis.
- Asteroid Apophis Characteristics : Apophis is an “S-type” asteroid composed of silicate (rocky) material, with a mixture of metallic nickel and iron.
- It was discovered on June 19, 2004.
- It is a remnant from the early formation of our solar system about 4.6 billion years ago.
- It originated in the main asteroid belt between Mars and Jupiter.
- As a result, Apophis is classified as a near-Earth asteroid, as opposed to a main-belt asteroid.
Daily CA One- Liner: December 29
- Japan International Cooperation Agency (JICA) has finalised a loan of approximately ₹932 Crore to support Sustainable Development Goals (SDGs) initiatives in India.
- India’s central banking authority, the Reserve Bank of India (RBI), has approved a 1-year extension, until 21st December 2024 for the co-branded credit cards offered by Bajaj Finance Limited and RBL Bank Limited.
- Bank of Maharashtra (BoM) , a premiere public sector bank in the country, introduced a comprehensive range of cutting-edge products and services designed to redefine the banking experience.
- Uttar Pradesh (UP) is taking a step forward in promoting plans to build India’s first Artificial Intelligence (AI) City in Lucknow.
- The ‘Mission Investigation@75 days’ will be launched by the Bihar Police from January 1, 2024.
- Indian Naval Ship (INS) Imphal, the third warship of Project 15B forming the Visakhapatnam class stealth-guided missile destroyers, is set to be commissioned into the Indian Navy.
- The 8th edition of Indian Ocean Naval Symposium (IONS) Conclave of Chiefs (CoC) was conducted by the Royal Thai Navy at Bangkok, Thailand.
- China successfully launched a Long March-11 carrier rocket into space, sending 3 satellites into planned orbit.
- The BeiDou Satellite Navigation System, also known as the BDS – China’s largest space-borne infrastructure to date that provides quality services to worldwide users – added two more satellites to its mega constellation.
- In an unprecedented extension of its celestial duties, the spacecraft that delivered asteroid samples from Bennu, OSIRIS-REx, has embarked on a new mission, and NASA has renamed it as OSIRIS-APEX.
- Union Minister for Power, New & Renewable Energy has informed that the Government has approved the scheme for Viability Gap Funding (VGF) for the development of Battery Energy Storage Systems (BESS) with a capacity of 4,000 megawatts hours
- University Grant Commission has issued a notification, alerting students against pursuing an MPhil degree as it is no longer recognised
- The Muslim League Jammu Kashmir (Masarat Alam faction) MLJK-MA has been declared as an ‘Unlawful Association’ under the Unlawful Activities (Prevention) Act (UAPA)
- Upon completion of the year term of the ‘National Startup Advisory Council (NSAC), the Central Government has nominated non-official members on the National Startup Advisory Council representing various stakeholders such as founders of successful startups, veterans
- The landmark Telecommunications Bill, which was passed by Parliament recently, has received the President’s assent.
- As per the latest statistics of the Ministry of Coal, the cumulative achievement in coal production during FY’ 2023-24 from April 2023 to 25th December 2023, has touched 664.37 million tonne (MT), indicating a substantial 12.29% growth compared to the corresponding period last year at 591.64 MT.
- E-retail in India is expected to surge past USD 160 billion (over Rs 13 lakh crore) mark by 2028, a report released by Bain & Company in collaboration with Flipkart
- ISRO has been awarded the Leif Erikson Lunar Prize by the Husavik Museum for its achievements in advancing lunar exploration and contributing to understanding celestial mysteries through the successful Chandrayaan-3 mission.
- Professor Savita Ladage from Mumbai’s Homi Bhabha Centre for Science Education (HBCSE), Tata Institute of Fundamental Research (TIFR) has been named winner of the Royal Society of Chemistry’s (RSC) Nyholm Prize for Education in recognition of her contribution to chemistry education.
- Beverage major Coca-Cola has renewed its partnership with the International Cricket Council (ICC), securing an eight-year commitment that stretches through 2031, encompassing all major ICC world events in various cricket formats.
- The Indian Olympic Association (IOA) constituted an Ad Hoc committee comprising Bhupinder Singh Bajwa as Chairman, MM Somaya and Manjusha Kanwar as its Members.
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