National News

PM Modi Announces Renaming of Ranks in Indian Navy

• In a groundbreaking move, Prime Minister Narendra Modi has announced the restructuring of ranks within the Indian Navy, aiming to eliminate colonial influences and infuse a distinct Indian cultural identity.
• This historic announcement took place during the Navy Day function held at the iconic Sindhudurg Fort in Maharashtra, underlining the commitment to embracing India’s cultural roots, given the fort's historical ties to the Maratha empire.
• The Prime Minister emphasized that this renaming initiative is part of a broader strategy to shed colonial military legacies, aligning the naval hierarchy more closely with India's rich cultural heritage.

World’s First Portable Hospital, ‘Aarogya Maitri Cube’, Unveiled in Gurugram

• India has unveiled a revolutionary disaster response facility, the world’s first portable hospital named Aarogya Maitri Cube, in Gurugram.
• groundbreaking initiative, a key component of Prime Minister Narendra Modi’s ambitious “Project BHISHM,” showcases innovation and preparedness.
• The portable hospital, consisting of 72 cubes, each equipped with essential medical facilities, can be airlifted to areas in need.
• Among its features are an operation theatre, a mini-ICU, ventilators, X-ray machines, and more, demonstrating its capacity to handle diverse severe injuries.
• This remarkable project underscores India's commitment to advanced healthcare solutions and disaster management.

State News

PM Modi Unveils Shivaji Maharaj Statue at Rajkot Fort in Maharashtra

• On December 4, 2023, Prime Minister Narendra Modi marked a historic moment by unveiling the statue of Chhatrapati Shivaji Maharaj at Rajkot Fort in Maharashtra’s Sindhudurg district.
• Chhatrapati Shivaji Maharaj, known for his strategic prowess in constructing coastal forts, has left an indelible mark on India’s maritime history.
• The unveiling ceremony not only pays homage to this visionary leader but also highlights the inspiration drawn from Shivaji Maharaj's seal for India’s naval ensign.
• This ensign, adopted during the commissioning of India’s first indigenous aircraft carrier, INS Vikrant, showcases a blend of historical significance and contemporary naval achievements.

‘Hump WWII’ Museum Opens in Arunachal with US Aircraft

• In a poignant ceremony held in Pasighat, Arunachal Pradesh, the ‘Hump WWII’ Museum was inaugurated on November 29, dedicated to the fallen airmen of the Allied forces during World War II.
• This museum stands as a tribute to aviators who navigated the perilous air route between Assam and Yunnan in China, known as ‘The Hump.’
• The challenges faced by Allied pilots during this route, marked by deep gorges and mountains rising beyond 10,000 feet, underscore the museum's significance.
• It commemorates their perilous journeys and vital contributions to the war effort in transporting crucial supplies.

Defence News

GRSE Delivers India’s Largest Survey Vessel to Navy

• The Garden Reach Shipbuilders and Engineers (GRSE) Ltd achieved a significant milestone by delivering INS Sandhayak, India’s largest survey vessel, to the Indian Navy.
• This 110-meter-long vessel is the first in a series of four survey ships being constructed by GRSE, marking a crucial achievement in the indigenous shipbuilding industry.
• The Sandhayak-class vessels offer comprehensive capabilities, conducting full-scale coastal and deep-water hydrographic surveys.
• Beyond their primary survey functions, these vessels showcase multi-role capabilities, serving as valuable assets to the Indian Navy in various scenarios, including low-intensity combat and medical support.

Banking News

RBI Cancels License of Kolhapur Based Shankarrao Pujari Nutan Nagari Sahakari Bank Limited

• The Reserve Bank of India (RBI) has taken a significant step by cancelling the license of Kolhapur-based Shankarrao Pujari Nutan Nagari Sahakari Bank Limited.
• This decision, effective from December 4, 2023, prohibits the bank from conducting banking operations, encompassing the acceptance and repayment of deposits.
• In the event of liquidation, the RBI assures depositors of a claim amount of up to ₹5,00,000 from the Deposit Insurance and Credit Guarantee Corporation (DICGC), reinforcing regulatory measures to safeguard the interests of depositors.

Business News

Bajaj Group Becomes Fifth Conglomerate to Breach ₹10 Lakh Crore in Mcap

• On December 4, 2023, the Bajaj Group achieved a significant milestone, surpassing Rs.10 lakh crore in market capitalization.
• This accomplishment positions the Pune-based Bajaj Group among the top five business houses, joining the ranks of Tata, Reliance Industries, HDFC Bank, and the Adani Group.
• The remarkable 41% surge in market valuation since April underscores the group's robust performance, with Bajaj Auto contributing significantly, posting a staggering 63% increase during the same period.
• This financial feat signifies the resilience and growth of the Bajaj Group in the competitive market landscape.

Bharti Airtel Becomes the 8th Company to Surpass ₹6 Lakh Crore Mcap

• Bharti Airtel, a leading telecommunications company, achieved a significant milestone by becoming the 8th company to surpass Rs.6 lakh crore on December 4.
• This achievement is attributed to positive market sentiment following the Bharatiya Janata Party’s victory in state elections.
• The company’s stock witnessed a 2% increase during Monday’s trade, contributing to a year-to-date gain of 28%.
• Bharti Airtel now stands among other Indian giants, including Reliance Industries, TCS, HDFC Bank, ICICI Bank, HUL, Infosys, and ITC, with a market capitalization exceeding Rs.6 lakh crore. This accomplishment reflects the company's strong market position and investor confidence in its growth prospects

Important Days News

World Soil Day 2023

• On December 5th each year, people across the globe come together to observe World Soil Day (WSD), an occasion dedicated to acknowledging the fundamental role soil plays in sustaining life on Earth.
• This annual event serves as a poignant reminder of the intricate relationship between soil, plants, animals, and humans, emphasizing the critical need to preserve and protect this invaluable resource.
• The United Nations has declared the theme for World Soil Day 2023 as ‘Soil and water, a source of life,’ underscoring the vital link between soil and water, contributing to over 95 percent of global food production.

International Volunteer Day 2023

• December 5th marks International Volunteer Day (IVD), an annual event celebrating the significant contributions of volunteers worldwide.
• Established by the United Nations General Assembly in December 1985, IVD not only recognizes the selfless efforts of volunteers but also emphasizes their role in achieving the Sustainable Development Goals (SDGs) and building resilient communities.
• The 2023 theme, “The Power of Collective Action: If Everyone Did,” highlights the enormous renewable resource that volunteerism represents for solving social, economic, and environmental problems globally, from ensuring food and education for everyone to fostering a clean environment, good health, inclusive societies, and peace.

Schemes News

Mandatory Display Of PMAY-U Logo On Houses Ensures Transparency And Accountability

• The Union Housing and Urban Affairs Ministry have mandated the display of the Pradhan Mantri Awas Yojana – Urban (PMAY-U) logo and beneficiary details on all houses constructed under the scheme.
• This directive, applicable to all States and Union Territories, aims to streamline the implementation of the Government of India's flagship mission.
• Emphasizing the importance of a standardized display, agencies are strictly advised not to modify the PMAY-U logo during the implementation process. This mandatory display signifies a crucial step towards enhancing transparency and accountability in the implementation of urban housing schemes, establishing a standardized visual identity and reinforcing the government’s commitment to providing dignified housing for all.

Agreements News

Ujjivan SFB Partners With Water.Org To Offer Water, Sanitation And Hygiene Loans

• Ujjivan Small Finance Bank (Ujjivan SFB) has forged a strategic partnership with Water.org, addressing the pressing issue of water and sanitation in India, with the world’s highest population.
• This collaboration aims to reach 65,000 households over the next three years, providing affordable loans for the construction of safe drinking water and sanitation facilities.
• Beyond financial support, org will offer technical assistance, market assessments, development of Information, Education, and Communication (IEC) materials, as well as monitoring and evaluation support.
• This partnership reflects a commitment to tackling crucial societal challenges through innovative financial solutions.

Awards News

ISRO And Team Chandrayaan-3 Honoured For Outstanding Contribution To Brand India

• On August 23, India’s Chandrayaan-3 achieved a historic lunar landing, making India the first country to reach the Lunar South Pole.
• The Indian Space Research Organization (ISRO) and the Chandrayaan-3 team were honored with the “Outstanding Contribution to Brand India” award at the 19th India Business Leader Awards (IBLA) held in Mumbai on December 2.
• This award recognizes their remarkable achievements in space exploration, celebrating not only scientific success but also the positive impact on India’s global image.
• The Chandrayaan-3 mission showcases India’s growing prowess in space technology, contributing to its standing as a space superpower.

Sheetal Devi Wins Best Young Athlete At APC Conference

• Indian para archer Sheetal Devi secured the prestigious title of Best Youth Athlete at the fourth edition of the Asian Awards in Riyadh.
• Her outstanding performance at the Hangzhou 2022 Asian Para Games played a pivotal role in earning her this coveted award.
• Achieving gold in both the individual and team compound events, along with a silver medal in the compound doubles category, Sheetal Devi also attained the world number one ranking in compound women this year.
• This recognition solidifies her as a formidable force in the world of para archery, showcasing skill, consistency, and dedication.

Miscellaneous News

“Rizz” Crowned Oxford University Press Word Of The Year By Generation Z

• Oxford University Press has revealed “Rizz” as its Word of the Year, reflecting the linguistic preferences of Generation Z.
• This term, describing someone’s ability to attract or seduce another person, triumphed over other finalists like “Swiftie,” “situationship,” and “prompt.”
• The selection of “rizz” as the Word of the Year by Oxford University Press highlights the dynamic nature of language, especially in the realm of Generation Z.
• This linguistic evolution serves as a testament to the ever-changing landscape of communication, reflecting the unique ways in which younger generations shape and redefine the words that encapsulate their experiences, perspectives, and interactions in the modern world.