National News

Ministry Of Jal Shakti Organises ‘Jal Itihas Utsav’ In Delhi

• The Ministry of Jal Shakti orchestrated a remarkable event, the 'Jal Itihas Utsav,' at Shamsi Talab, Jahaz Mahal in Mehrauli, Delhi, as part of the National Water Mission's efforts.
• The primary goal was to elevate public consciousness regarding the preservation of water heritage sites.
• This initiative also aimed to instill a sense of ownership among the masses, boost tourism, and contribute to the restoration of historical structures.
• The collaborative efforts with the Archaeological Survey of India (ASI) and the Municipal Corporation of Delhi (MCD) resulted in the successful restoration of Shamsi Talab and its surrounding park, emphasizing the significance of collective action in preserving our cultural heritage.

International News

UAE Unveils $30 Billion Fund For Global Climate Solutions At COP28

• In a groundbreaking commitment at COP-28, the United Arab Emirates pledged an unprecedented $30 billion to ALTERRA, a climate initiative managed by Lunate, the world's largest private climate investment vehicle.
• This fund's ambitious target is to mobilize a staggering $250 billion globally by 2030, with a focus on climate investments reshaping emerging markets and developing economies.
• A portion of this funding has been allocated to developing over 6.0 GW of new clean energy capacity in India, incorporating wind and solar projects set to commence production by 2025.
• This initiative highlights the UAE's dedication to fostering global climate solutions and sustainable development.

State News

Union Minister Dharmendra Pradhan Lays Foundation Stone For NSTI Plus

• Union Minister Dharmendra Pradhan marked a significant milestone by laying the foundation stone for the National Skill Training Institutes (NSTI) Plus in Jatni, Bhubaneswar.
• This initiative, under the Directorate General of Training (DGT), aims to enhance the skills of Odisha’s youth through demand-driven and high-quality vocational education.
• NSTI Plus, sprawled across a 7.8-acre campus, aspires to become a hub for diverse skill development activities and an incubation center for emerging start-ups.
• The plan includes training 500 instructors in Phase-1 through the Craftsmen Instructor Training Scheme (CITS) and incorporating an additional 500 instructors for upskilling and reskilling. This aligns with the vision of making India a global skilling destination.

Bihar Launches ‘Mission Daksh’ To Aid 25 Lakh Academically Weak Students

• The Bihar government launched 'Mission Daksh' to support academically challenged students in state-run schools.
• This initiative, targeting nearly 25 lakh children in classes 3-8, focuses on specialized Hindi, Mathematics, and English classes.
• Each teacher will mentor only five students, specifically those struggling with fluency in Hindi and English and facing challenges in basic Mathematics.
• 'Mission Daksh' aims to address individual needs, enhance academic performance, and ensure effective implementation through district-wise monitoring committees led by district magistrates.

Banking News

RBI’s Successful Withdrawal 97.26% Of ₹2,000 Banknotes In India

• The Reserve Bank of India (RBI) achieved a significant milestone by successfully withdrawing 97.26 percent of the ₹2,000 banknotes from circulation by May 19, 2023.
• This move followed the fulfillment of the objective of introducing these notes, which was to meet the currency requirements of the economy after the demonetization of ₹500 and ₹1,000 banknotes in 2016.
• As of November 30, 2023, the total value of ₹2,000 banknotes in circulation has dwindled to ₹9,760 crore, a substantial reduction from the initial ₹3.56 lakh crore.

Business News

UPI Recorded 11.24 Billion Transactions Worth Rs 17.40 Lakh Crore

• The Unified Payments Interface (UPI) platform in India achieved remarkable growth, recording 11.24 billion transactions worth ₹17.40 lakh crore in November.
• This surpassed the previous high of ₹17.16 lakh crore in October, reflecting a 1.4% monthly increase and an impressive 46% year-on-year growth.
• The National Payments Corporation of India (NPCI) reported consistent yearly growth in UPI transactions, maintaining a growth rate of over 40% in the fiscal year 2024 (FY24).
• The volume of UPI trades has consistently grown by over 50%, showcasing the platform's robust and sustained expansion.

Actis Unit BluPine Buys Acme Solar Assets For EV Of ₹1,700 Cr

• London-based private equity firm Actis Llp, through its portfolio company BluPine Energy, successfully acquired Kolkata-based Atha Group’s 404MW solar power assets for an enterprise value of ₹1,700 crore.
• This strategic move underscores Actis’ commitment to India’s energy transition and the expansion of BluPine’s renewable energy capabilities.
• The acquisition, valued at around ₹2,100 crore, reinforces the growing importance of renewable energy in India’s evolving economic landscape.

Important Days News

International Day For The Abolition Of Slavery 2023

• On December 2nd, the International Day for the Abolition of Slavery was observed, commemorating the United Nations General Assembly's adoption of the Convention for the Suppression of the Traffic in Persons and the Exploitation of the Prostitution of Others on December 2, 1949.
• This day serves as a stark reminder of the ongoing battle against slavery, including its modern manifestations such as human trafficking, forced labor, and the exploitation of children in various industries.

59th Raising Day Of Border Security Force (BSF)

• The Border Security Force (BSF) celebrated its 59th Raising Day on December 1st.
• Established after the Indo-Pakistani War of 1965, the BSF plays a crucial role in securing India's borders with Pakistan and Bangladesh.
• With a motto of "जीवन पर्यन्त कर्तव्य" (Duty Unto Death), the BSF has grown from 25 battalions to 192 battalions and around 270,000 personnel, including specialized units like air and naval wings, and an artillery regiment, enhancing its operational capabilities.

Summits & Conferences News

PM Modi Launches LeadIT 2.0, Focusing On Inclusive Industry Transition

• On the sidelines of COP28 in Dubai, Prime Minister Narendra Modi launched LeadIT 2.0, focusing on an inclusive and just industry transition.
• This initiative aims to co-develop and transfer low-carbon technology, providing financial assistance to emerging economies.
• It emphasizes bridging the technological gap by fostering cooperation between nations for the development and transfer of sustainable technologies, highlighting the importance of inclusivity in providing environmentally friendly solutions.

PM Modi Proposes To Host COP33 In India In 2028

• In a significant announcement at COP28, Prime Minister Narendra Modi proposed India's commitment to host COP33 in 2028.
• This proposal, made during the World Climate Action Summit, outlined India's ambitious plans to triple its renewable energy capacity, develop alternative fuels like green hydrogen, and engage in the Global Biofuels Alliance.
• These initiatives showcase India's proactive steps toward a sustainable energy future and the crucial role of collective efforts in global climate initiatives.

Agreements News

RBI And Bank Of England Ink MoU For Exchange Of Information

• The Reserve Bank of India (RBI) and the Bank of England (BoE) signed an MoU for collaboration and the exchange of information related to the Clearing Corporation of India Ltd (CCIL).
• This collaboration enables the Bank of England to assess CCIL’s application for recognition as a third-country CCP.
• This agreement brings relief to UK-based lenders, including major institutions like Barclays and Standard Chartered, allowing them to continue offering clearing and settlement facilities to their clients in India.

Appointments News

Sheshadri Appointed IDRCL Chair, Incumbent Gupta To Head NARCL

• Former KPMG managing partner, Narayan Seshadri, has been appointed Chairman at IDRCL, the government-backed bad bank, following the resignation of Diwakar Gupta.
• Gupta is expected to take over as Chairman of NARCL, aiming to expedite the resolution of bad loans.
• This leadership shift aims to bring experience and expertise to the revitalization of distressed companies, addressing challenges and delays in the resolution process.

Sports News

Ruturaj Gaikward Becomes The Fastest Indian To 4,000 Runs In Men’s T20

• In the fourth T20I against Australia in Raipur, Ruturaj Gaikwad became the fastest Indian to amass 4,000 runs in Men’s T20.
• Achieving this milestone in just 116 innings, Gaikwad surpassed the previous record held by KL Rahul.
• This remarkable feat highlights Gaikwad's exceptional batting prowess and makes him the quickest Indian batsman to reach the coveted 4,000-run mark in T20 cricket.

Obituaries News

Sandra Day O’Connor, First Woman On The Supreme Court, Passes Away At 93

• Sandra Day O’Connor, the first woman to serve as a justice on the U.S. Supreme Court, passed away at the age of 93 in Phoenix, Arizona.
• Appointed by President Ronald Reagan in 1981, O'Connor faced significant challenges as a female lawyer in a male-dominated profession.
• Retiring in 2006, her legacy includes paving the way for women in the legal profession, and her passing marks the end of an era in American jurisprudence.