National News

UIDAI Imposes Rs.50,000 Penalty For Overcharging Aadhaar Services, Suspends Operator: Govt.

• The Unique Identification Authority of India (UIDAI) has implemented stringent measures against operators guilty of overcharging for Aadhaar services.
• In response to these violations, the UIDAI, as revealed by Minister of State for Electronics and IT Rajeev Chandrasekhar, has introduced a penalty system with a substantial fine of Rs.50,000 and the suspension of the responsible operator.
• This proactive move is designed to ensure fair and accessible services for all citizens. Upon receiving reports of overcharging, the authority conducts thorough investigations, and if the violation is confirmed, the penalty is imposed on the enrolment register.
• This step reinforces the commitment to maintaining integrity and fairness in the delivery of Aadhaar services.

International News

Statue Of Tamil Icon ‘Thiruvalluvar’ Unveiled In France

• A significant cultural milestone was achieved in the French town of Cergy on December 10 with the unveiling of a statue dedicated to Thiruvalluvar, a revered cultural icon among Tamilians.
• Prime Minister Narendra Modi praised the statue, considering it a beautiful testament to the shared cultural bonds between India and France.
• Thiruvalluvar, also known as Valluvar, was an eminent Indian poet and philosopher celebrated for his work, the Tirukkuṟaḷ.
• This compilation of couplets covers a wide array of subjects, including ethics, politics, economics, and love, making it a highly esteemed contribution to Tamil literature.

State News

Telangana Introduces Free Bus Travel For Women And Transgender Individuals

• Under the leadership of Chief Minister Revanth Reddy, the government of Telangana has introduced the 'Maha Lakshmi Scheme' to provide free bus travel for girls, women of all age groups, and transgender individuals in state-run Palle Velugu and express buses.
• Effective from December 9, 2023, this scheme ensures accessible and affordable transportation within the borders of Telangana State.
• Beneficiaries can travel cost-free in inter-state Express and Palle Velugu buses up to the borders of Telangana, contributing to increased mobility and inclusivity for the targeted groups.

Economy News

Moody’s Affirms Reliance Industries’ Baa2 Rating With A Stable Outlook

• Moody's Investors Service has reaffirmed the Baa2 rating for Reliance Industries Limited (RIL) with a stable outlook.
• This affirmation reflects RIL's substantial market presence and strong performance across its diverse business sectors.
• The projection anticipates a significant growth in RIL's consolidated EBITDA, driven by robust performances in digital services, retail, and the upstream oil and gas segment.
• Moody's envisions an annual EBITDA growth of 10%-12% over the next two years, primarily fueled by the strong performance of RIL's consumer businesses.

Food Processing Industry Thrives With ₹7,000 Crore Investment Under PLI Scheme

• The Ministry of Food Processing reports substantial growth in the food processing industry, with beneficiaries of the Production Linked Incentive (PLI) Scheme investing a staggering ₹7,126 crore.
• Cumulative sales during the April-September period reached ₹49,825 crore, showcasing the positive impact of the scheme.
• The PLI Scheme, focusing on key categories such as ready-to-cook and ready-to-eat products, processed fruits and vegetables, marine products, and mozzarella cheese, aims to generate employment for approximately 250,000 individuals.

Banking News

RBI Grants Authorization To Bandhan Bank For Pension Disbursement To Retired Railway Employees

• Bandhan Bank has received official authorization from the Reserve Bank of India (RBI) to facilitate pension disbursement through e-Pension Payment Orders (e-PPOs) on behalf of the Ministry of Railways.
• This authorization extends the bank's reach to approximately 50,000 average Indian Railways retirees annually, covering all offices, including 17 zonal railways and 8 production units of Indian Railways.
• Pensioners stand to benefit from competitive interest rates and senior citizen privileges, and with a vast network and robust digital banking platform, Bandhan Bank aims to provide retirees with a comprehensive banking experience.

Business News

Tata Steel To Invest ₹100 Cr. In Centre For Innovation In London

• Tata Steel, a global steel leader, has entered into a strategic partnership with Imperial College London to establish the Centre for Innovation in Sustainable Design and Manufacturing in London.
• This collaboration, supported by an investment of 104 crore over the next four years, underscores Tata Steel's commitment to sustainable innovation.
• The initiative aims to accelerate technology development and deployment, attract talent, and foster a robust industry-academia collaborative ecosystem.

Ranks & Reports News

Mercer’s Survey: Pune 2nd In India For Quality Of Living After Hyderabad

• In Mercer's Quality of Living Index 2023, Pune secures the second-best position in India for 'quality of life,' just behind Hyderabad.
• This marks a significant improvement from the previous rankings, showcasing continuous efforts to enhance the city's infrastructure and overall living standards.
• The Quality of Living City Index positions Pune at 154th globally, with Hyderabad slightly ahead at 153rd, and Bengaluru following closely at 156th.
• The rankings reflect the city's dedication to improving the quality of life for its residents and maintaining a competitive edge in the global context.

Schemes News

Arvind Kejriwal And Punjab CM Mann Initiate Scheme For Doorstep Services

• In a historic move, Punjab Chief Minister Bhagwant Mann and AAP national convenor Arvind Kejriwal have launched the “Bhagwant Mann Sarkar, Tuhade Dwaar” scheme in Ludhiana, inspired by the successful Delhi Model.
• This groundbreaking initiative aims to revolutionize governance by providing doorstep delivery of essential services.
• The newly introduced “Mobile Sahayaks,” donned in distinctive yellow T-shirts featuring Mann’s image, will be instrumental in delivering 43 critical services directly to the citizens of Punjab, enhancing accessibility and efficiency.

Awards News

Mohammed Shami Nominated For Arjuna Award, Satwiksairaj-Chirag For Khel Ratna

• India’s premier badminton men’s doubles pair, Satwiksairaj Rankireddy and Chirag Shetty, stand nominated for the Major Dhyan Chand Khel Ratna Award, the country’s highest sports prize.
• With an exceptional track record, including victories at the Asian Games, Asian Championships, Swiss Open, Indonesia Open, and Korea Open, they have had a remarkable year.
• Mohammed Shami, the ace pace bowler finishing as the top wicket-taker in the ODI World Cup, is in contention for the Arjuna Award. These nominations reflect the outstanding contributions of these athletes to Indian sports.

Agreements News

Reliance Teams With DBS Bank For Biogas Initiative

• Reliance Industries has collaborated with DBS Bank India to initiate a financing program targeting farmers and aggregators.
• This strategic partnership aims to address the challenge of crop residue by producing compressed biogas (CBG).
• By enlisting DBS Bank India as its finance partner, Reliance Industries intends to manage the financial aspects of sustainable residue management.
• The initiative, starting with a facility in Barabanki, UP, is set to reduce 40,000 tonnes of carbon emissions annually and plans to establish 100 CBG plants in five years.

COP28 Concludes With Historic Agreement On Fossil Fuels

• The 28th Conference of Parties (COP28) to the United Nations Framework Convention on Climate Change concluded with the historic “UAE Consensus,” addressing the climate crisis.
• For the first time, participating parties agreed to confront the issue of fossil fuels and recognized the need for a “fair and equitable” transition away from them.
• While this marks a significant step forward, concerns have been raised by developing nations, including Bolivia, Cuba, China, and members of the “G-77 and China” group, emphasizing the importance of concrete financial commitments for their transition away from fossil fuels.

Appointments News

Parama Sen Appointed Part-Time Member Of PFRDA Board, Filling All Three Vacancies

• Parama Sen, Additional Secretary in the Department of Expenditure at the Finance Ministry, has been appointed as a part-time member of the Pension Fund Regulatory and Development Authority (PFRDA) board, filling all three vacancies.
• This appointment reflects the commitment to strengthening regulatory bodies, and Parama Sen, a 1994 batch Indian Audit and Accounts Services (IAAS) officer, brings valuable expertise to the role.

Sports News

Italy Clinches Admiral Cup 2023 At Indian Naval Academy

• The Admiral’s Cup Sailing Regatta's 12th edition concluded with Team Italy, represented by Midshipman Avallone Antonio and Midshipman Creati Carlo Leonardo, securing the top honor.
• Team India, led by Midshipman PPK Reddy and Cadet GY Reddy, emerged as the Runners-Up.

IPL Brand Value Rises 28% To $10.7 Billion In 2023

• The IPL has achieved decacorn status, with a 28% surge in brand value to $10.7 billion, marking a phenomenal 433% increase since its launch in 2008.
• This growth is attributed to the IPL's massive viewership, reaching 505 million on television and 450 million on digital platforms during the 2023 season.