Table of Contents
National News
The New Nyaya Sanhita Mechanisms for Quick Justice Delivery
The Nyaya Sanhita, a comprehensive legislative reform, aims to expedite the justice process in India, ensuring quicker and fairer resolution of cases. The law prioritizes the completion of crucial stages of investigation and trial within specific time frames. With a focus on expediting justice for women, children, and other marginalized sections of society, the Nyaya Sanhita introduces mechanisms that tackle delays in the judicial system. These reforms aim to restore public confidence in the legal system, reduce case backlogs, and deliver justice in a timely manner.
India Maritime Heritage Conclave 2024
The 1st India Maritime Heritage Conclave (IMHC 2024), organized by the Ministry of Ports, Shipping and Waterways (MoPSW) on December 11-12, marked a significant occasion to honor India’s rich maritime legacy while envisioning its future as a global maritime leader. This landmark event brought together key ministers, maritime experts, and international dignitaries, reaffirming India’s crucial role in global trade and culture. The conclave also highlighted the nation’s growing maritime potential, emphasizing sustainable practices and opportunities for employment and innovation in the sector.
Supreme Court Collegium Recommends Permanent Judges for 3 High Courts
The Supreme Court Collegium, led by Chief Justice of India (CJI) Sanjiv Khanna, recommended the appointment of seven Additional Judges as Permanent Judges for the High Courts of Delhi, Karnataka, and Punjab & Haryana. The decision, announced on December 12, 2024, was made after a meeting with members Justice B.R. Gavai, Justice Surya Kant, Justice Hrishikesh Roy, and Justice Abhay S. Oka. This move aligns with ongoing efforts to strengthen the judiciary by filling crucial vacancies in High Courts.
International News
World’s Richest Families 2024 Waltons Family Leads
The Bloomberg list of the world’s richest families for 2024 reveals significant wealth disparities among the global elite. The Walton family, which owns Walmart, tops the list, surpassing not just other billionaire families but also the wealth of the world’s richest individual, Elon Musk. Notable families from India, including the Ambanis and Mistrys, also made it to the top 25, reflecting the growing influence of Indian billionaires on the global wealth stage.
Romania’s Far-Right, Pro-Russian Shift Sparks Alarm for EU and NATO
The unexpected victory of far-right, pro-Russian candidate Călin Georgescu in Romania’s presidential race has raised alarms in Brussels, signaling potential shifts that could destabilize the EU and NATO alliances. As Romania’s political landscape tilts toward ultranationalism, fears of Moscow’s growing influence within Eastern Europe are mounting, particularly after similar shifts in Moldova and Georgia. If Georgescu prevails in the December 8 runoff, Romania, a crucial NATO and EU member, could veer toward anti-Western policies, impacting the EU’s unity and complicating consensus-building among member states.
Switzerland Suspends ‘Most Favoured Nation’ Status to India
In a significant move, Switzerland has decided to suspend the application of the ‘Most Favoured Nation’ (MFN) clause in its tax treaty with India, a decision that could raise taxes on Indian companies operating in Switzerland. This decision follows a 2023 Indian Supreme Court ruling that altered the interpretation of the MFN clause, reversing a Delhi High Court decision favoring Nestlé. As a result, Switzerland will impose a 10% withholding tax on dividends paid to Indian companies starting January 1, 2025, instead of the previous 5%.
François Bayrou: Macron’s New Prime Minister Amid Political Turmoil
French President Emmanuel Macron has appointed François Bayrou as the new Prime Minister of France, his third this year, amidst a worsening political crisis. Bayrou, a veteran centrist and close Macron ally, faces immediate challenges of navigating a divided parliament to pass critical legislation, particularly the contentious 2025 budget bill. The appointment follows a vote of no-confidence that ousted Michel Barnier’s minority government, leaving France in political instability, rising borrowing costs, and a European leadership vacuum.
State News
Prayagraj: PM Modi Inaugurates Projects for Maha Kumbh Prep
Prime Minister Narendra Modi, during his visit to Prayagraj, inaugurated multiple development projects to improve the city’s infrastructure and provide better amenities for pilgrims attending the Maha Kumbh in 2025. Highlighting the event’s cultural, spiritual, and economic significance, the Prime Minister described the Maha Kumbh as a “mahayagya of unity” that transcends caste, sect, and regional differences, while promoting national integration and empowering communities economically.
Economy News
India’s GDP Growth Projections for FY25 Revised Downward
India’s GDP growth projections for FY25 have been revised downward by multiple agencies, reflecting cautious optimism amid global and domestic challenges. CARE Ratings has lowered its FY25 GDP growth estimate from 6.8% to 6.5%, citing a contraction in corporate profitability, reduced public capital expenditure (capex), and sluggish urban consumption in the first half of FY25. Similarly, Fitch Ratings adjusted its forecast to 6.4% from earlier estimates of 7%, while the Asian Development Bank (ADB) pegged its projection at 6.5%.
Banking News
Manish Jain Appointed Executive Director at YES Bank
YES Bank announced that the Reserve Bank of India (RBI) had approved the appointment of Manish Jain as the Executive Director (Whole-Time Director) of the bank. Jain’s appointment is for a period of three years, starting from December 11, 2024, to December 10, 2027. This move follows a prior resolution by the bank’s board of directors and will be subject to the approval of YES Bank’s shareholders. Manish Jain, who has been with YES Bank since September 2023, brings a wealth of experience in corporate and wholesale banking.
BOBCARD Launches TIARA Credit Card
BOBCARD has launched the TIARA Credit Card, a premium, women-centric offering designed to empower modern women. This card is packed with rewards across various categories such as travel, lifestyle, dining, entertainment, and health, providing women with the tools to manage their finances without compromising on lifestyle. The launch event, held at Pinkathon, featured notable personalities like Milind Soman and Ankita Konwar. TIARA is powered by the RuPay network and promises to be a game-changer for women’s financial autonomy.
Ranks & Reports News
Taste Atlas Reveals 2024-25 Top Food Cities
Food is a significant aspect of cultural exploration, with many travelers seeking out destinations known for their unique culinary experiences. In line with this, Taste Atlas, a renowned food and travel guide, has recently revealed its rankings for the Top 10 Best Food Cities in the World for 2024-25. European cities dominate the list, particularly from Italy, while Mumbai in India makes a notable appearance in the top 5, showcasing the global recognition of India’s diverse food culture.
Schemes News
FAME-III: New Milestone for Electric Mobility in India
India is aggressively advancing its electric vehicle (EV) ecosystem, and the launch of the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme marks a significant step in this journey. With an outlay of Rs. 10,900 crore over two years (April 2024 to March 2026), the scheme aims to promote electric mobility and reduce the country’s dependence on fossil fuels. The Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme is gearing up for its third phase (FAME-III), expected to roll out within the next two months. The government is determined to ensure that India becomes a global leader in electric mobility, with a vision of a ‘Viksit Bharat.’
Business News
Max Life Rebrands to Axis Max Life Insurance
Max Life Insurance has officially rebranded as Axis Max Life Insurance, marking a significant milestone in its journey after receiving corporate and regulatory approvals. The move follows Axis Bank’s acquisition of a larger stake in Max Life, strengthening their partnership and aligning the company’s future growth strategies.
Important Days News
Empowering India: National Energy Conservation Day
Energy efficiency is a cornerstone of sustainable development, weaving together progress and environmental stewardship. In India, this dedication to sustainability is passionately commemorated every year on December 14 as National Energy Conservation Day. This observance serves as a reminder of the importance of adopting sustainable energy practices, transforming it into a driving force for individuals, industries, and institutions alike to embrace energy efficiency and pave the way for a greener future.
Sports News
Pakistani All-Rounder Imad Wasim Retires
Pakistan’s star all-rounder Imad Wasim announced his retirement from international cricket on Friday, marking the conclusion of a remarkable nine-year career. The 35-year-old, who played a pivotal role in Pakistan’s Champions Trophy triumph in 2017, shared his decision on social media, expressing gratitude to fans and the cricketing fraternity. Despite retiring from international cricket, Imad plans to continue entertaining his fans through domestic and franchise cricket.
13th December 2024 Current Affairs (Dail...
12th December 2024 Current Affairs (Dail...
11th December 2024 Current Affairs (Dail...
