- National:
- The International Organization for Migration (IOM) launched Project PRAYAS on Thursday, December 21, 2023, in collaboration with the Ministry of External Affairs. The project aims to facilitate safe, orderly, and regular migration for aspiring Indian migrant workers and students. The project is one of the first attempts to consolidate all the state-level initiatives for safe, orderly, and well-managed international migration.
- The Indian government has reconstituted the National Startup Advisory Council (NSAC) by nominating 31 non-official members. These members include founders of successful startups, veterans who have grown and scaled companies in India, and representatives of various stakeholders.
- The Gujarat government lifted the ban on liquor in the Gujarat International Finance Tec-City (GIFT City) on Friday, December 22, 2023. This decision was taken to provide a “global business ecosystem” at the GIFT City. Liquor access permits will be given to owners and employees of companies in the GIFT City.
- The UK government has announced plans to implement a carbon border tax from 2027 on imports of iron, steel, aluminum, ceramics, and cement. This move is designed to support domestic producers and reduce emissions. The tax will be based on the carbon emissions associated with the production of the imported goods and the carbon price difference between the UK and the country of origin.
- International:
- The World Health Organization (WHO) has indeed prequalified a second malaria vaccine, which is a significant milestone in the prevention of the disease. This vaccine, known as the R21/Matrix-M malaria vaccine, was developed by Oxford University and is manufactured by the Serum Institute of India.
- French President Emmanuel Macron has been invited to be the chief guest at India’s Republic Day celebrations on January 26. This will be the sixth occasion where a French leader will be the Chief Guest at India’s Republic Day celebrations.
- The United Nations has indeed declared 2024 as the International Year of Camelids. Camelids, which include species like alpacas, Bactrian camels, dromedaries, guanacos, llamas, and vicuñas, are key to the livelihoods of millions of households across over 90 countries. They contribute to food security, nutrition, and economic growth, and hold a strong cultural significance for communities across the world.
- Banking:
- The Reserve Bank of India (RBI) has imposed a penalty of Rs 2 lakh on the Thane District Central Co-operative (TDCC) Bank. The penalty was for an alleged violation of banking regulations by sanctioning a loan to one of the directors of the bank. This action by the RBI underscores the importance of maintaining strict adherence to banking regulations.
- The Centre has released an additional installment of Rs.72,961.21 crore as tax devolution to states. This is beyond the regular 14 installments recommended by the Finance Commission. This extra fund aims to strengthen the states’ capacity for financing social welfare measures and infrastructure projects.
- Loan Agreements Signed Japan's JICA & India's GoI signed two loan agreements worth $3 billion on Dec 21, 2023. High-Speed Rail Boost: $2.9 billion to fund Phase V of the Mumbai-Ahmedabad High-Speed Rail Project, the biggest JICA loan for a single project ever. SDGs in Focus: $108 million for Phase 2 of a program promoting UN's Sustainable Development Goals (SDGs) in India
- The Government of India signed the agreement with the Asian Development Bank (ADB) to avail a USD 100 million loan on December 22, 2023. This loan is intended to improve urban services and tourism facilities in the northeastern state of Tripura.
- Kotak Life introduced a new insurance product called ‘T.U.L.I.P’, a Non-Participating Unit Linked Endowment Plan, on December 20, 2023. It offers life cover up to 100 times of the annual premium and promises loyalty additions of up to 30% of the fund value at the end of the term. It provides eight fund options across equity, debt, and hybrid categories. However, it doesn’t offer any liquidity during the first five years.
- The Department of Economic Affairs (DEA) has granted a one-time exemption to the Life Insurance Corporation of India (LIC) to achieve a 25% Minimum Public Shareholding (MPS) within 10 years from the date of listing. This one-time exemption aims to ease LIC's transition to being public while it raises more capital.
- Mous:
- The Memorandum of Understanding (MoU) between the Ministry of Rural Development (MoRD) and Reliance Retail’s JioMart was signed on December 22, 2023 in New Delhi. This collaboration aims to facilitate the outreach of products from Self-Help Groups (SHGs) under MoRD’s SARAS collection brand. The MoU is part of an effort to enhance the outreach of the products of SHGs of Deendayal Antyodaya Yojana-National Rural Livelihoods Mission.
- The Indian Coast Guard (ICG), which operates under the aegis of the Ministry of Defence, has signed a Memorandum of Understanding (MoU) with Amazon India to provide work opportunities for ex-service personnel on 20th December 2023 in Mumbai. This MoU aligns with Amazon India’s commitment towards an inclusive workplace.
- Govt.Schemes:
- Union Minister of Women and Child Development and Minority Affairs, Smt. Smriti Zubin Irani inaugurated the National Programme on Anganwadi-cum-Crèche (Palna) at Vigyan Bhawan, New Delhi on 21st December 2023. The central aim of Anganwadi-cum-Crèches is to meet the demand for quality childcare facilities and enable women to participate in the workforce actively.
- Science & Technology:
- On 20th December NASA achieved a significant milestone in the development of an innovative propulsion system called the Rotating Detonation Rocket Engine (RDRE). Engineers at NASA’s Marshall Space Flight Center in Huntsville, Alabama, successfully tested a novel, 3D-printed RDRE for 251 seconds (or longer than four minutes), producing more than 5,800 pounds of thrust.
- Sports:
- Sakshi Malik, India’s only woman wrestler to win an Olympic medal, announced her retirement from wrestling during a press conference in New Delhi on December 21, 2023. She stated that she won’t compete under the presidency of Brij Bhushan loyalist.
- Reports:
- Union Environment Minister Bhupendra Yadav launched a G20 report titled ‘A Green and Sustainable Growth Agenda for the Global Economy’ on 18th December 2023, in New Delhi. This report was a significant collaborative effort by NITI Aayog, in partnership with the International Development Research Centre (IDRC) and the Global Development Network (GDN).
- Awards & Honors:
- Crompton Greaves Consumer Electricals Ltd. (CGCEL), one of India’s leading consumer electrical companies, was conferred with the prestigious National Energy Conservation Award 2023. The award was presented by the President of India, Droupadi Murmu, and the Ministry of Power through its body, the Bureau of Energy Efficiency (BEE), on the occasion of National Energy Conservation Day.
- Appointments:
- Bisleri, India’s leading mineral water brand, has indeed roped in Deepika Padukone as its first-ever global brand ambassador. The new campaign is called Bisleri #DrinkItUp. The campaign is a fresh and never-before-seen take on hydration, infusing excitement and fun.
Questions:
Q.1 What type of plan is T.U.L.I.P?a. Participating Unit Linked Endowment Plan
b. Non-Participating Unit Linked Endowment Plan
c. Participating Unit Linked Insurance Plan
d. Non-Participating Unit Linked Insurance Plan
Q.2 What award did Crompton Greaves Consumer Electricals Ltd. (CGCEL) receive in 2023?
a. National Innovation Award
b. National Energy Conservation Award
c. Best Consumer Electrical Company Award
d. Corporate Social Responsibility Award
