Table of Contents
Agreements News
Aatmanirbhar Bharat Boost: MoD Contracts L&T for K9 VAJRA-T Guns
In a significant move towards enhancing the firepower of the Indian Army and advancing the goals of Aatmanirbhar Bharat, the Ministry of Defence (MoD) signed a Rs 7,628.70 crore contract with Larsen & Toubro Limited (L&T) on December 20, 2024. The procurement involves 155 mm/52 calibre K9 VAJRA-T Self-Propelled Tracked Artillery Guns, a cutting-edge addition to India’s artillery fleet. The agreement was signed in the presence of Defence Secretary Shri Rajesh Kumar Singh at South Block, New Delhi, marking a key milestone in India’s defence modernization and indigenous manufacturing capabilities.
$350M India-ADB Loan Agreement Finalized
The Government of India and the Asian Development Bank (ADB) have signed a $350 million policy-based loan under the second subprogram of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) program. This collaboration aims to enhance India’s logistics sector through comprehensive reforms, infrastructure development, and digital integration. By improving logistics efficiency, the initiative seeks to strengthen the manufacturing sector, boost supply chain resilience, reduce costs, and promote sustainable economic growth.
Banking News
ICICI Bank, Times Internet Launch Premium Metal Credit Card
ICICI Bank and Times Internet have launched the ‘Times Black ICICI Bank Credit Card,’ a super-premium co-branded card aimed at high-net-worth individuals (HNIs) in India. The card combines exclusive benefits, luxury services, and a unique design, marking a step toward redefining luxury for India’s affluent customer segment. Powered by Visa, the card provides a range of perks that cater to the sophisticated lifestyle of professionals and wealthy individuals.
RBI Fines Manappuram Finance and IndusInd Bank for Non-Compliance
Reserve Bank of India (RBI) imposed penalties on IndusInd Bank and Manappuram Finance for failing to adhere to regulatory norms. The fines, amounting to Rs 27.3 lakh for IndusInd Bank and Rs 20 lakh for Manappuram Finance, were imposed following statutory inspections of both companies. These inspections reviewed their financial positions as of March 31, 2023, uncovering violations in compliance with RBI’s regulatory directions.
Business News
Tata Power and Canara Bank Partner for Rooftop Solar Loans
Tata Power Renewable Energy, a unit of Tata Power, has formed a partnership with the state-run Canara Bank to provide affordable financing options for rooftop solar installations. This collaboration is part of the government’s PM Surya Ghar Scheme, which aims to accelerate the adoption of rooftop solar systems across India. The initiative will help residential customers access clean energy solutions at lower costs and contribute to India’s renewable energy targets.
CCI Approves UltraTech’s ₹3,954 Cr India Cements Deal
UltraTech Cement, a flagship company of the Aditya Birla Group, has secured approval from the Competition Commission of India (CCI) for its ₹3,954-crore acquisition of India Cements Ltd (ICL). This acquisition marks a strategic move by UltraTech to strengthen its position in the southern cement market, particularly in Tamil Nadu. The deal, involving a significant stake acquisition and an open offer, aligns with UltraTech’s ambitious growth strategy to enhance its installed capacity and achieve global leadership in the cement industry.
NTPC to Establish Nuclear Power Project in Bihar, Says CMD Gurdeep Singh
NTPC, a leading power giant in India, has unveiled its plans to set up a nuclear power project in Bihar as part of its strategy to diversify its energy portfolio. This move is aimed at bolstering NTPC’s commitment to expanding its non-fossil energy capacity and contributing to the country’s energy needs in the future. The company’s Chairman and Managing Director, Gurdeep Singh, highlighted the importance of nuclear energy for the energy sector in the coming decades and outlined the potential benefits for both NTPC and the state of Bihar.
Summits and Conferences News
24th BIMSTEC Senior Officials Meeting (SOM)
India participated in the 24th BIMSTEC Senior Officials Meeting (SOM), hosted virtually by Thailand on December 20, 2024. Jaideep Mazumdar, Secretary (East) from the Ministry of External Affairs (MEA), represented India during this important session. The meeting reviewed the progress made by BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) since the last SOM in March 2023 and discussed key areas of regional cooperation. Various documents and new mechanisms of cooperation were finalized, and preparations for the upcoming 6th BIMSTEC Summit were also discussed.
Books and Authors News
A Book Titled ‘BRING IT ON: The Incredible Story of My Life’ By Dr. Deepa Malik
HarperCollins India has proudly announced the upcoming publication of ‘BRING IT ON: The Incredible Story of My Life’, a memoir by India’s most celebrated para-athlete, Dr. Deepa Malik. This remarkable autobiography promises to provide readers with an unfiltered view of her extraordinary life, her relentless pursuit of success, and her unyielding determination to overcome challenges.
Sports News
Richa Ghosh Smashes Record-Breaking Fifty in Women’s T20Is
India’s wicketkeeper-batter Richa Ghosh etched her name in history by smashing the joint-fastest fifty in women’s T20Is. She achieved this feat during the third and final T20I of the series against West Indies Women at the DY Patil Stadium. Richa entered the crease with a clear intent to attack, showcasing her power-hitting skills from the very first ball. In a spectacular display of aggression, she reached her second T20I half-century in just 18 balls, equalling the records of Sophie Devine (New Zealand captain) and Phoebe Litchfield (Australia opener).
Delhi to Host 2025 Para Athletics World Championships
India is set to host the 2025 Para Athletics World Championships, marking a historic moment for the country as it becomes the first time this prestigious event will be held in India. The competition is scheduled to take place between September 26 and October 5, 2025, at the Jawaharlal Nehru Stadium in New Delhi. This event will be the 12th edition of the Para Athletics World Championships and the fourth time it is being held in Asia. More than 1,000 athletes from over 100 nations are expected to participate in this landmark event, which will also serve as a critical qualifier for the 2028 Los Angeles Paralympic Games.
Important Days
World Basketball Day 2024: Date, Significance and History
Every year on December 21, World Basketball Day is observed to honour the development and significance of a sport that has inspired millions of people worldwide. Basketball transcends boundaries, cultures, and languages, promoting values such as athleticism, joy, companionship, and peace. The celebration of this day highlights basketball’s role in fostering collaboration, physical activity, and interdependence, encouraging players and fans alike to view one another first and foremost as fellow human beings. Basketball was invented on December 21, 1891, by Dr. James Naismith, a Canadian physical education teacher at the International YMCA Training School in Springfield, Massachusetts, USA. Naismith’s goal was to create a game that would keep his students physically active during the harsh winter months. His innovative idea gave rise to a sport that would eventually gain global popularity.
First-Ever World Meditation Day: 21st December 2024
On 21st December 2024, the world will celebrate the first-ever World Meditation Day, marking a significant moment in the global acknowledgment of the transformative power of meditation. This annual celebration has been established following a resolution passed by the United Nations General Assembly (UNGA) on 29th November 2024. The day is set to emphasize the profound mental, physical, and social benefits of meditation, while fostering peace and unity worldwide. The event’s theme, “Meditation for Global Peace and Harmony,” reflects the universal vision of meditation as a bridge to connect individuals and nations. By encouraging participants to focus on inner calmness and mutual respect, this initiative aims to inspire people worldwide to adopt meditation as a tool for fostering collective well-being.
20th December 2024 Current Affairs (Dail...
19th December 2024 Current Affairs (Dail...
18th December 2024 Current Affairs (Dail...
