Table of Contents
National News
Pralhad Joshi Launches ‘Anna Chakra’ and SCAN Portal
The Union Minister of Consumer Affairs, Food and Public Distribution and New & Renewable Energy, Shri Pralhad Joshi, launched ‘Anna Chakra’ and SCAN (Subsidy Claim Application for NFSA) portal, marking a significant step toward modernizing India’s Public Distribution System (PDS) and subsidy claim mechanisms.
MHA Grants FCRA Licenses to CNI and USIN Foundation
The Union Ministry of Home Affairs (MHA) has granted FCRA licenses to the USIN Foundation, a think tank, and The Synodical Board of Social Services of the Church of North India (CNI), reinstating CNI’s license that was revoked last year. This approval allows CNI to resume receiving foreign funds for social and religious activities. The decision comes as the MHA continues its scrutiny of NGOs, with recent revocations signaling increasing regulatory oversight.
International News
From Freedom Fighter to Namibia’s First Female President
Netumbo Nandi-Ndaitwah, nicknamed “NNN,” made history by becoming Namibia’s first female president. A key figure in Namibian politics, her journey from an activist fighting against South African occupation to her leadership in post-independence Namibia has been nothing short of remarkable. Elected at the age of 72, Nandi-Ndaitwah won with more than 57% of the vote, despite facing political opposition. Her story reflects the transformative power of activism, perseverance, and a strong commitment to economic and social progress.
Nepal and China Sign Framework for BRI Cooperation
During Prime Minister K P Sharma Oli’s official visit to China, both countries signed the Belt and Road Initiative (BRI) Cooperation Framework. This agreement aims to accelerate the implementation of BRI projects, marking a pivotal moment in Nepal-China relations. While Nepal joined the BRI in 2017, no projects were executed until now. The recent framework, signed by Nepal’s acting Foreign Secretary Amrit Bahadur Rai and Liu Sushe of China’s National Development and Reform Commission, includes terms like “aid and technical assistance,” replacing “grant” with “investment” following deliberations.
State News
Google to Launch Safety Engineering Centre in Hyderabad
Google and the Telangana government have signed an agreement to establish the Google Safety Engineering Centre (GSEC) in Hyderabad. This specialized international cybersecurity hub will be Google’s second such centre in the Asia Pacific, after Tokyo, and fifth globally, joining Dublin, Munich, and Malaga. The GSEC will focus on advancing cybersecurity capabilities, fostering skill development, and creating employment opportunities.
Economy News
World Bank Approves $188.28 Million Loan for Maharashtra’s Backward Districts
The World Bank has approved a $188.28 million loan to Maharashtra aimed at boosting economic growth in the state’s underdeveloped districts. This loan, provided by the International Bank for Reconstruction and Development (IBRD), comes with a 15-year maturity period, including a five-year grace period. The project focuses on enhancing district-level governance, improving e-governance services, and fostering private sector involvement to accelerate economic development and job creation.
OECD Raises India’s FY25 Growth Forecast to 6.8%
The Organisation for Economic Co-operation and Development (OECD) has upgraded India’s GDP growth forecast for FY25 to 6.8%, up from 6.7%, citing robust public infrastructure spending, strong private consumption, and recovery in agricultural output. This growth momentum is expected to be sustained through FY25 and FY26, with investment and rural income growth being central to the economy’s expansion. Despite global economic uncertainties and geopolitical risks, India’s economic resilience points to a promising future.
Banking News
RBI Monetary Policy Meeting Dec 2024: Key Highlights and Updates
The Reserve Bank of India (RBI) conducted its latest bi-monthly Monetary Policy Committee (MPC) meeting in December 2024. Governor Shaktikanta Das announced several crucial measures and projections to address current economic challenges while maintaining stability. To tackle liquidity concerns, the Cash Reserve Ratio (CRR) was reduced by 50 basis points to 4%. This move aligns with the RBI’s neutral policy stance, aimed at ensuring economic stability without disruptive interventions. The MPC decided by a 4-2 majority to maintain the repo rate at 6.5%. The Standing Deposit Facility (SDF) rate and the Marginal Standing Facility (MSF) rate were also retained at 6.25% and 6.75%, respectively. This cautious approach reflects the central bank’s focus on balancing inflation and growth.
SEBI: SDP Recognition for Digital Platforms is Voluntary
The Securities and Exchange Board of India (SEBI) has clarified that digital platforms are not obligated to register as Specified Digital Platforms (SDPs). The framework aims to simplify compliance for regulated entities (REs) while ensuring flexibility for digital platforms. SEBI emphasized that preventive measures for SDP recognition are voluntary, and there is no regulatory framework governing SDPs.
Ranks & Reports News
IndiGo Ranks Among Worst Airlines Globally in AirHelp 2024 Report
India’s IndiGo Airlines has landed in the bottom tier of the global airline rankings, securing the 103rd position out of 109 in the 2024 AirHelp Score report. This ranking places the low-cost carrier as one of the worst performers, which has raised questions about the credibility of the survey. While Air India fares slightly better at 61st, IndiGo refutes the findings, arguing that the methodology lacks transparency, especially concerning the sample size from India.
Important Days News
All India Civil Defence and Home Guards Day: A Tribute to Voluntary Service
All India Civil Defence and Home Guards Day, observed annually on December 6, honors the commitment and contribution of the Home Guards and Civil Defence organisations. This day also marks the formation of the Home Guard force, which was first established in the Bombay Province on December 6, 1946, as a voluntary citizen force to assist the police in maintaining law and order. Over the years, this force has evolved into a key auxiliary unit supporting the nation during crises, natural disasters, and emergencies.
Mahaparinirvan Diwas 2024: Commemorating the Legacy of Dr. B.R. Ambedkar
Mahaparinirvan Diwas, observed annually on December 6, marks the death anniversary of Bharat Ratna Dr. Bhimrao Ramji Ambedkar, fondly known as Babasaheb Ambedkar, the chief architect of the Indian Constitution. A leader, thinker, and reformer, Dr. Ambedkar dedicated his life to fostering equality and eradicating caste-based discrimination. On this solemn day, millions across India pay homage to his enduring legacy by reflecting on his teachings and his commitment to building a just and inclusive society.
Awards News
Scottish Sikh Artist Wins 2024 Turner Prize
Glasgow-born Scottish Sikh artist Jasleen Kaur has been awarded the Turner Prize 2024, one of the world’s most prestigious accolades in contemporary art. Known for her evocative exploration of personal, political, and spiritual themes, Kaur received the prize for her solo exhibition Alter Altar, which combines sculpture, sound, and music to reflect on community, cultural inheritance, and anti-colonial struggles. Her work is celebrated for its innovative storytelling, connecting everyday objects to broader narratives of resilience, memory, and identity.
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