National News

Empowering Youth through 'Green Rising' Initiative

• On December 8th, during COP28, UNICEF's Generation Unlimited, in collaboration with India's Ministry of Environment, Forest, and Climate Change, unveiled the "Green Rising" initiative.
• This environmental endeavor, integral to India's YuWaah campaign, focuses on involving youth in impactful eco-actions inspired by the Mission Life movement.
• Co-hosted by UNICEF, Generation Unlimited, and Dubai Cares, the Green Rising initiative was officially launched at the RewirEd Summit.
• Over the next three years (2023-2025), it aims to pave the way for at least 10 million children and youth in developing countries, fostering grassroots action, green skills development, jobs, and entrepreneurship.

Preserving Village Heritage with 'Mera Gaon, Meri Dharohar' Project

• Union Minister G. Kishan Reddy, responsible for culture, tourism, and the development of the North Eastern Region, introduced the groundbreaking "Mera Gaon, Meri Dharohar" (MGMD)
• Developed in collaboration with the Indira Gandhi National Centre for the Arts (IGNCA) under the Ministry of Culture, MGMD is a vital component of the National Mission on Cultural Mapping.
• Its primary objective is to make information about Indian villages accessible to virtual and real-time visitors, aligning with the broader goals of the National Mission on Cultural Mapping.

International News

Lahore Tops Global Pollution Rankings

• Lahore, the second-largest city in Pakistan, recently claimed the unenviable title of having the world's worst air quality, with a hazardous Air Quality Index (AQI) of 400 in the morning.
• The AQI takes into account pollutants like ground-level ozone, particulate matter, carbon monoxide, sulfur dioxide, and nitrogen dioxide.
• The repercussions of Lahore's air quality crisis extend beyond discomfort, posing severe health risks such as respiratory problems and cardiovascular diseases due to prolonged exposure to high pollution levels.

State News

Damodar Rajanarasimha Takes Charge as Telangana’s Health Minister

• Telangana Chief Minister A Revanth Reddy appointed Damodar Rajanarasimha Cilarapu, an engineering graduate, as the Health Minister of the state.
• Despite lacking a medical background, Rajanarasimha brings political acumen and experience to his role, having secured a significant victory in the Andole constituency.
• His victory by a substantial margin solidified his position and paved the way for his appointment as the Health Minister.

Defence News

Digital Transformation for Indian Coast Guard with ₹588 Crore Pact

• The Ministry of Defence (MoD) has signed a ₹588.68 crore contract with Telecommunications Consultants India Limited (TCIL) for the "Digital Coast Guard (DCG)" project.
• Falling under the "Buy (Indian)" category, the project aims to establish a centralized monitoring and management system for the Indian Coast Guard’s applications and assets.
• The initiative leverages secured MPLS/VSAT connectivity and includes the establishment of a Tier-III standard Data Centre with cutting-edge capabilities.

Economy News

Monetary Policy Vs. Fiscal Policy: Understanding The Differences

• Monetary policy involves a country’s central bank using tools to regulate the money supply and interest rates, primarily targeting inflation control.
• On the other hand, fiscal policy is the government’s management of tax revenues and expenditures, aiming for economic growth and stability without specific inflation control targets.

Additional Funds for Extended Interest Equalisation Scheme

• The Union Cabinet, led by Prime Minister Narendra Modi, has allocated an additional Rs 2,500 crore for the Extended Interest Equalisation Scheme, extending it until June 30, 2024.
• The scheme supports exporters from specific sectors and all MSME manufacturer exporters, aiming to facilitate pre and post-shipment Rupee export credit at competitive rates and foster growth in the MSME sector.

India Implements Duty-Free Import Of Yellow Peas to Regulate Pulse Prices

• In a strategic move to stabilize pulse prices, the Indian government, through the Directorate-General of Foreign Trade (DGFT), has lifted restrictions on the import of yellow peas.
• This decision allows duty-free shipments of yellow peas until March 31, 2024, with the aim of enhancing the supply of pulses in the market.
• Yellow peas, primarily imported from Canada and Russia, were initially subjected to a 50% duty in November 2017, and this recent decision marks a shift from "Restricted" to "Free" status in New Delhi's efforts to manage overall pulse basket prices.

Banking News

RBI Empowers Healthcare and Education Transactions

• The Reserve Bank of India (RBI) made a substantial move by increasing the UPI payment limits from Rs 1 lakh to Rs 5 lakh.
• This decision is poised to reshape financial transactions, particularly in healthcare and education.
• RBI Governor Shaktikanta Das highlighted that the revised UPI transaction limit aims to facilitate higher payments for medical and educational purposes, providing consumers with increased flexibility in handling digital transactions in these crucial domains.

IDFC FIRST Bank's Youth-Centric "FIRST SWYP" Credit Card

• In a strategic move targeting Millennials and Gen Zs, IDFC FIRST Bank unveiled the "FIRST SWYP" credit card, catering to the unique demands of the new-age customer.
• Notable features include being a no-interest charge card, offering EMI repayment flexibility, a referral program, and exclusive merchant partnerships.
• This youth-centric credit card aligns with the financial needs and habits of its target demographic, providing a comprehensive and flexible financial solution.

Important Days News

Celebrating Human Rights Day 2023

• December 10, 2023, marks the 75th anniversary of the Universal Declaration of Human Rights (UDHR).
• This transformative document, adopted by the United Nations in 1948, remains a beacon of hope, enshrining the inalienable rights of every individual, regardless of diverse factors.
• The UDHR lays the foundation for fundamental human rights universally protected, emphasizing the commitment to equality and dignity for all.

International Anti-Corruption Day 2023

• Celebrated on December 9, International Anti-Corruption Day focuses on raising awareness about the harmful impact of corruption on society.
• The theme for 2023, 'UNCAC at 20: Uniting the World Against Corruption,' underscores global efforts to combat corruption and emphasizes collective responsibility.
• The day commemorates the adoption of the United Nations Convention against Corruption (UNCAC) on December 9, 2003, highlighting the ongoing fight against corruption.

International Day of Commemoration and Dignity of the Victims of Genocide

• December 9 holds profound significance as the International Day of Commemoration and Dignity of the Victims of the Crime of Genocide.
• Commemorating the adoption of the Genocide Convention, this day emphasizes the importance of preventing this heinous crime and showcases the legacy of the 1948 Convention on the Prevention and Punishment of the Crime of Genocide.
• The theme for this year's commemorative event is "A Living Force in World Society."

Summits & Conferences News

GPAI 2023: Advancing Responsible AI

• India is hosting the Annual GPAI Summit from December 12 – 14, showcasing its commitment to the advancement of AI.
• The Global Partnership on Artificial Intelligence (GPAI), established in June 2020, aims to bridge the gap between theory and practice in AI.
• The Research Symposium, themed "Advancing Responsible AI in Public-Sector Applications," organized by the Ministry of Electronics and Information Technology, provides a collaborative platform for researchers and academicians.

Awards News

Federal Bank: Bank of the Year 2023

• Federal Bank has achieved a momentous feat by being titled "Bank of the Year (India)" by The Banker, a globally recognized publication.
• The bank's initiatives, such as the Digital Personal Loan, 'Bank on the Go' initiative, and 'Feddy,' an AI-powered chatbot, showcase its commitment to innovation and customer-centric services.
• This accolade recognizes Federal Bank's outstanding contributions to the banking industry on a global scale.