National News

68 Rajya Sabha Members, Including Notables Like Manmohan Singh And Jaya Bachchan, Set To Retire In 2024

• In the realm of Indian politics, a notable transformation awaits as 68 Rajya Sabha members, including key figures like former Prime Minister Manmohan Singh and Jaya Bachchan, are set to retire in 2024.
• This impending change intensifies the competition for coveted six-year terms in the Upper House of Parliament.
• The upcoming April will mark the completion of tenures for 57 leaders, with nine of them serving as Union ministers.
• Uttar Pradesh takes the lead with the highest number of vacancies, followed by Maharashtra and Bihar.
• Additionally, states like Madhya Pradesh, West Bengal, Karnataka, Gujarat, and others will play crucial roles in shaping the political landscape.

State News

Punjab's Trailblazing Road Safety Initiative

• Punjab emerges as a trailblazer in road safety by becoming the first Indian state to meticulously map all 784 accident-prone sites.
• Leveraging the cutting-edge Mappls App developed by MapMyIndia, the Punjab Police has collaborated to integrate real-time traffic updates.
• This strategic partnership aims to equip citizens with vital information about accident-prone areas, contributing to a safer driving experience.
• The initiative aligns with Chief Minister Bhagwant Singh Mann’s flagship project, the 'Sadak Suraksha Force,' emphasizing the comprehensive mapping of accident black spots to establish a robust road safety system across the state.

Economy News

Indian Equities Surge to Record Highs with FPI Influx

• December witnesses historic foreign portfolio investor (FPI) acquisitions of Indian equities, soaring to 661.35 billion rupees ($8 billion), according to National Securities Depository data.
• This surge propels India's Nifty 50 and Sensex benchmarks to unprecedented highs. Lower U.S. bond yields and expectations of Federal Reserve interest rate cuts contribute to a record fortnightly purchase of shares worth 427.33 billion rupees in the first half of December.
• The Reserve Bank of India revises its fiscal 2024 growth forecast upwards, driven by faster-than-expected quarterly GDP growth. Positive sentiments are further reinforced by state election results indicating policy continuity in 2024.

Business News

Adidas Chooses Tamil Nadu for its Global Capacity Centre (GCC)

• In a strategic move, Adidas, the renowned athletic footwear and apparel giant, is set to establish its first and only Global Capacity Centre (GCC) in Asia outside of China.
• This decision underscores the trend of multinational corporations favoring India for setting up their GCCs, capitalizing on the country's abundant software skills.
• The German corporation, headquartered in Bavaria, will establish its Global Business Services (GBS) hub in Chennai, marking a pivotal step for Adidas.
• This move signifies Chennai's rising prominence in the global corporate landscape, positioning itself as the first GCC outside of China in Asia for the sportswear giant.

Empowering Education Through PRERANA Program

• In a significant move, the Ministry of Education introduces the PRERANA program, an experiential learning initiative by the Department of School Education & Literacy.
• This groundbreaking program targets students from classes IX to XII, aiming to instill leadership qualities and provide a unique and inspiring learning experience.
• Aligned with the principles of the Indian education system and the National Education Policy (NEP) 2020, PRERANA embodies a commitment to value-based education, fostering respect for India’s cultural heritage and diverse traditions, echoing the spirit of “Vasudhaiva Kutumbakam” (the world is one family).

PM Modi's Vision: PRITHVI VIGYAN Scheme

• Under the visionary leadership of Prime Minister Shri Narendra Modi, the Indian government launches the ambitious PRITHVI VIGYAN scheme, a comprehensive initiative by the Ministry of Earth Sciences.
• With a substantial budget of Rs. 4,797 crore spanning from 2021-26, the program signifies a new era in the study and understanding of Earth sciences in India.
• PRITHVI aims to revolutionize our understanding and interaction with Earth systems, including continuous monitoring of the atmosphere, oceans, geosphere, cryosphere, and solid earth.
• This initiative is poised to bring about essential changes and advancements in Earth sciences.

Agricultural Innovation: Tur Dal Procurement Portal

• Union Cooperation Minister Amit Shah takes a stride in agricultural innovation with the inauguration of the tur dal procurement portal.
• This platform allows farmers to register and sell their produce to the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and the National Cooperative Consumers’ Federation of India Limited (NCCF).
• The portal ensures a minimum support price (MSP) or market price for farmers, with plans to extend this facility to urad, masoor, and maize farmers in the future.
• The Direct Benefit Transfer (DBT) during the launch, transferring Rs 68 lakh to 25 farmers for their tur dal sales, aims to empower farmers and address concerns of price uncertainty.

Agreements News

India-Nepal Energy Partnership: Exporting 10,000 MW of Power

• In a testament to their long-term energy partnership, India and Nepal solidify their commitment through an agreement to export 10,000 MW of power to India over the next 10 years.
• Signed by India’s Energy Secretary Pankaj Agrawal and Nepal’s Energy Secretary Gopal Sigdel, this agreement emphasizes a shared vision for sustainable energy cooperation.
• Additionally, a Memorandum of Understanding (MoU) is signed for cooperation in renewable energy between the Nepal Electricity Authority and India’s National Thermal Power Corporation Limited.
• This underscores the joint commitment towards sustainable and eco-friendly energy solutions, marking a significant step in regional energy collaboration.

REC's Visionary Investment in Infrastructure Projects

• REC Limited, a prominent Maharatna Central Public Sector Enterprise operating under the Ministry of Power since 1969, has recently entered into a groundbreaking Memorandum of Understanding (MoU) with Rail Vikas Nigam Limited (RVNL).
• This strategic collaboration aims to infuse financial support of up to Rs. 35,000 Crores into various Infrastructure Projects over the next 5 years.
• This alliance underscores the commitment of both entities to drive essential developments across multi-modal logistics hubs, rail infrastructure, roads, ports, and metro projects.
• This substantial investment is poised to catalyze transformative changes in the infrastructure sector, promoting economic growth and connectivity on a national scale.

Appointments News

Leadership Transition at AIRIA: Shashi Singh Takes the Helm

• The All India Rubber Industries Association (AIRIA), a leading authority representing India’s rubber industry, witnesses a significant leadership change as Shashi Singh assumes the role of the new President, succeeding Ramesh Kejriwal.
• This transition signifies a new era for AIRIA, with Singh poised to advance the association’s mission and goals.
• Accompanying Singh in this leadership journey, Zafar Ahmed takes on the position of senior vice-president for 2023-24, while Indra Parekh assumes the role of vice president.
• This diverse and experienced leadership team is expected to bring fresh perspectives, insight, and innovation to propel AIRIA towards greater heights.

Canara Bank's P Santhosh Takes the Helm at NARCL

• P Santhosh, Chief General Manager at Canara Bank, steps into the role of Managing Director of the National Asset Reconstruction Company (NARCL) from January 5, succeeding Natarajan Sundar.
• Sundar, a seasoned banking veteran, is the second high-ranking official to resign from NARCL before completing the designated tenure, raising questions about the stability and management structure of the organization.
• This leadership transition prompts reflections on the challenges and uncertainties within NARCL, a key player in the asset reconstruction landscape.

Vice Admiral Dinesh Tripathi Assumes Key Role in Indian Navy

• On January 4, 2024, Vice Admiral Dinesh K Tripathi officially takes over as the Vice Chief of the Naval Staff, succeeding in a distinguished naval career that began with his commissioning on July 1, 1985.
• An alumnus of Sainik School Rewa and the National Defence Academy, Tripathi specializes in Communication and Electronic Warfare.
• His journey includes significant roles on frontline warships, contributing to the maritime strength of the Indian Navy.
• This appointment reflects a strategic move in naval leadership, with Vice Admiral Tripathi bringing a wealth of experience and expertise to his new position.

Awards News

Literary Honor for Shirshendu Mukhopadhyay: Kuvempu Award 2023

• Renowned Bengali writer Shirshendu Mukhopadhyay receives the prestigious 2023 Kuvempu Rashtriya Puraskar, a national award celebrating writers who have made significant contributions to any Indian language.
• With over 90 books to his credit, Mukhopadhyay's diverse literary contributions encompass travelogues and fiction for children.
• This esteemed award, named in honor of the late Kannada poet Kuvempu, comes with a cash prize of Rs 5 lakh, a silver medal, and a citation.
• Mukhopadhyay joins the ranks of literary luminaries acknowledged by this distinguished award, adding another feather to his illustrious literary career.

Hero MotoCorp’s Water Conservation Triumph: CII National Award

• Hero MotoCorp, the world’s largest two-wheeler manufacturer, achieves recognition for excellence in water management by winning the CII National Award.
• Their Gurugram facility, specifically in the ‘Within the Fence’ category, stands out for its exceptional water management practices.
• This accolade underscores Hero MotoCorp’s commitment to reducing water consumption and wastage within its manufacturing operations.
• With an ambitious goal to become 500% water positive by 2025, Hero MotoCorp sets a benchmark in corporate water conservation, contributing to environmental sustainability.

Miscellaneous News

Archaeological Marvel in Goa: 10th Century Kadamba Inscription

• A remarkable archaeological discovery unfolds in Goa as an inscription dating back to the 10th century D. surfaces in the Mahadeva temple at Cacoda in southern Goa.
• This inscription, written in both Kannada and Sanskrit, unveils a historical episode during the Kadamba period, providing valuable insights into the region’s past.
• The inscription narrates a significant historical event during the rule of Talara Nevayya, shedding light on his son Gundayya’s pursuit of capturing Gopura, the port of Goa, leading to a tragic end.
• This historical record stands as a poignant testament to the region's rich history and cultural heritage.