NATIONAL NEWS

Energy Conservation named 4E Wave Launched

· 4E Wave has been launched by Union Minister for Power and New & Renewable Energy Shri R. K. Singh.

· It is a student-led National Movement for Energy Conservation.

· It was launched in the presence of Lieutenant Governor of Jammu and Kashmir Shri Manoj Sinha.

· The movement aims to raise awareness of energy conservation among communities and individuals, as well as to encourage sustainable activities.

· 4E Wave comprises four essential components.

· Eco-friendliness, economy, education, and empowerment are these components.

· It's a youth-led initiative that encourages people all throughout the country to support energy conservation.

Telangana Chief Minister Launches Free Bus Rides For Women

· Chief Minister of Telangana, Revanth Reddy launched Maha Lakshmi Scheme and Rajiv Aarogyasri Scheme enhanced to ₹10 lakh in Hyderabad.

· The scheme allows girls, women, and transgender persons of all ages, domiciled in Telangana, to travel free of cost in TSRTC buses.

· According to the guidelines issued for the implementation of the scheme by the State government, these sections can travel free of cost anywhere within the borders of the State.

· The Rajiv Arogyasri Scheme provides financial protection to families living below the poverty line.

· It offers up to ₹10 lakh in a year for the treatment of serious ailments requiring hospitalisation and surgery and also financial coverage up to ₹10 lakh for high end procedures, according to the Rajiv Aarogyasri Health Care Trust.

 

INTERNATIONAL NEWS

Sweden and United States Ink Defence Cooperation Agreement

· Sweden signed a defence cooperation agreement with the United States in Washington.

· It will allow the US to access all of the military bases in the Scandinavian country which is about to join the trans-Atlantic security alliance, North Atlantic Treaty Organization (NATO).

· Swedish Defense Minister Pal Jonson stated that the deal will create better conditions for Sweden to be able to receive support from the US in the event of a war or crisis.

· US Secretary of States, Lloyd Austin, remarked that by adding the capabilities of the Swedish armed forces to NATO, will make them stronger.

· The US struck a similar deal with Sweden’s neighbour, Norway, in 2021 and is currently negotiating such an agreement with two other Nordic countries, Finland and Denmark.

Flagship Nation for the IMO Green Voyage 2050 Project

· India has been selected as the pioneer lead country for the International Maritime Organization (IMO) Green Voyage2050 Project.

· The overall goal of the Project is to support effective implementation of the Initial IMO GHG Strategy.

· It provides support to developing countries in their efforts to reduce Greenhouse Gas emissions from ships.

· The Initial IMO Strategy sets out a clear vision and levels of ambition, one of which is to reduce the total annual GHG emissions by at least 50% by 2050 compared to 2008.

· It is envisaged that the project will strengthen MARPOL Annex VI compliance, facilitate the sharing of operational best practices, catalyse the uptake of energy-efficient technologies and explore opportunities for low- and zero-carbon fuels.

 

BANKING

RBI to Develop Regulatory Framework for Oversight of Loan Aggregators

· The Reserve Bank of India (RBI) announced that it will soon release a regulatory framework aimed at overseeing web-based loan comparison platforms known as web-aggregators of loan products (WALP).

· WALP offers the service of aggregating loan offers from multiple lenders on an electronic platform which allows borrowers to easily compare different offers and choose the most suitable loan option available from the participating lenders.

· The RBI aims to create a structured system for loan aggregation services provided by lending service providers (LSPs).

· The framework aims to enhance transparency in the operations of WALPs or digital lending.

· It focuses on increasing customer centricity and enabling borrowers to make informed choices.

RBI Announces Plans to Set Up Cloud Facility

· The Reserve Bank of India (RBI) is actively working on establishing a dedicated cloud facility for the financial sector in India

· The primary objective of the proposed cloud facility is to significantly enhance the security, integrity, and privacy of data within the financial sector.

· The cloud facility will be set up and initially operated by Indian Financial Technology & Allied Services (IFTAS), a wholly-owned subsidiary of RBI.

· Over time, the cloud facility will be transitioned to a separate entity, with ownership vested in financial sector participants.

· This move aims to promote independence and collaboration within the sector.

· The implementation of the cloud facility is planned to occur in a phased and calibrated fashion over the medium term, ensuring a systematic and controlled deployment.

· The Reserve Bank Innovation Hub is set to operationalize the repository associated with the cloud facility by April 2024.

ACKO Partners with PhonePe

· ACKO General Insurance and PhonePe have collaborated to provide a range of inclusive car and bike insurance products directly to users through the PhonePe platform.

· This strategic partnership combines ACKO’s customer-centric approach with PhonePe’s extensive distribution network, ensuring convenient access to insurance as a readily available financial option for PhonePe users.

· In addition, this partnership will witness ACKO expanding its product range to encompass health insurance and various other lines in the coming years.

· The integration of ACKO with PhonePe is facilitated through the cutting-edge partnership API stack, crafted for modularity and smooth integration.

 

SPORTS

Guwahati Masters Badminton Tournament

· India’s Ashwini Ponnappa and Tanisha Crasto won the women’s doubles title at the Guwahati Masters 2023 badminton tournament.

· Ashwini Ponnappa and Tanisha Crasto, beat Taipei’s Sung Shuo Yun and Yu Chien Hui 21-13, 21-19 to win their second title as a pair.

· Results at the Guwahati Masters 2023 badminton tournament will count towards players’ qualifying rankings for the Paris 2024 Olympics.

 

RANKS, INDICES & REPORTS

Climate Change Performance Index (CCPI) 2024

· The Climate Change Performance Index (CCPI) 2024 was released on the sidelines of the ongoing COP28 in Dubai.

· India ranked 7th in this year’s Climate Change Performance Index, up one spot from the previous CCPI Index.

· CCPI is a scoring system that measures the climate protection performance of countries. It was first published in 2005.

· It is designed to improve transparency in international climate politics.

· The CCPI assesses each country’s performance in four categories: Greenhouse Gas (GHG) Emissions (40%), Renewable Energy(20%), Energy Use(20%), Climate Policy (20%).

· Germanwatch, the New Climate Institute and the Climate Action Network publish the index annually.

· India was ranked 9th in GHG Emissions and 10th in Energy Use among assessed countries.

· In Climate Policy, India was ranked 10.

· In Renewable Energy, India is ranked 37.

 

APPOINTMENTS & RESIGNATIONS

Chairman of the World Radiocommunication Conference

· The United Arab Emirates’s (UAE) Mohammed Al Ramsi appointed as the Chairman of the World Radiocommunication Conference (WRC) 2023.

· This conference started from 20th November and will continue till 15th December in Dubai, UAE.

· This year, more than 4,000 government officials and 900 international organisations from 193 countries are attending the conference.

· This decision underscores the prominent global position of the UAE, particularly in the ICT sector, a pivotal force driving development across diverse domains.

· The International Telecommunication Union (ITU) organises the World Radiocommunication Conference every three to four years.

· The objective of organizing the conference is to review the global use of radio frequency spectrum, geostationary satellites, and non-geostationary satellites in orbit.

Chief Minister of Chhattisgarh

· Bharatiya Janata Party leader Vishnu Deo Sai will take oath as the new Chhattisgarh chief minister on December 13, 2023 in Raipur.

· He will be the 4th Chief Minister of the state and the 1st tribal Chief Minister.

· Sai hails from the influential Sahu (Teli) community which has a sizable presence in Durg, Raipur and Bilaspur divisions.

· The BJP won 54 seats in the 90-member Assembly in the recently held polls

· Vishnu Deo Sai served as State President of Bharatiya Janata Party for Chhattisgarh from 2020 until 2022.

· He was Union Minister of State for Steel in the First Modi ministry.

 

DEFENCE

Russia Unveils Two New Nuclear-Powered Submarines

· Russian President Vladimir Putin unveiled two new nuclear-powered submarines on 11 December 2023.

· These new submarines will soon start patrolling in the Pacific Ocean.

· Krasnoyarsk and Emperor Alexander III were inaugurated at the Sevmash shipyard in Severodvinsk.

· Emperor Alexander III is the seventh submarine of the Borei-class, a nuclear-powered fleet.

· Each submarine is equipped with 16 Bulava intercontinental ballistic missiles carrying nuclear warheads.

· Krasnoyarsk belongs to the Yasen (Ash Tree) class of submarines. These are multipurpose submarines armed with long-range, high-precision missiles. For Krasnoyarsk, Putin said that it is capable of attacking both sea and land targets.

· Krasnoyarsk is armed with cruise missiles and torpedoes. Krasnoyarsk is designed to hunt enemy submarines.

 

IMPORTANT DAYS

Universal Health Coverage Day

· International Universal Health Coverage (UHC) Day is observed every year on 12 December.

· It emphasises the need for a health care system that provides good health facilities to all.

· The year 2023 marks the sixth anniversary of the International Universal Health Coverage Day.

· The theme of ‘Universal Health Coverage Day for the year 2023’ is “Health for All: Time for Action”.

· This theme calls for specific actions that focus on the resilience of health systems.

· On 12 December 2017, the United Nations General Assembly, by resolution, declared 12 December as International UHC Day.