NATIONAL NEWS

Gujarat Government Enters into MoU with AAI

· Gujarat, the State government has signed a memorandum of understanding (MoU) with the Airports Authority of India (AAI) to develop 11 new greenfield airports and expand 9 existing ones.

· Though an estimate for these projects have not been drawn, each airport is likely to cost ₹1,500-3,000 crore.

· Ankleshwar, Morbi, Rajpipla, Botad, Dwarka, Dhordo, Rajula, Dahod, Ambaji, Dholavira and Palitana have been identified for the development of greenfield airports.

· As per the agreement with the AAI, Gujarat government will provide the necessary land and other utility services like electricity and water needed for the airports.

· The government stated that it will also explore possibilities of three additional greenfield airports at Vadnagar, Siddhpur and Kevadia.

· Apart from the greenfield airport development, the state government is also looking at brownfield development of nine airports.

BANKING

SEBI's Proposal to Reduce NCD Face Value from ₹1 Lakh to ₹10,000

· The Securities and Exchange Board of India (SEBI) proposed to permit companies to issue non-convertible debentures (NCDs) and non-convertible redeemable preference shares (NCRPS) with the face value of 10,000 as against the current system of Rs one lakh face value.

· It aims to enhance the participation of non-institutional investors in the corporate bond market coupled with mitigation and management of risk to safeguard and protect the interest of such non-institutional investors.

· SEBI, in the agenda ‘Introduction of Regulatory Framework for Online Bond Platforms’ placed before the Board in the meeting held on September 30, 2023 approved the proposal to reduce the face value from Rs 10 lakh to Rs 1 lakh.

· The SEBI has also proposed a framework for the issuance of subordinate units in Real Estate Investment Trusts (Reits) and Infrastructure Investment Trusts (InvITs) to sponsors, sponsor groups, and associates.

· Preference shares, more commonly referred to as preferred stock, are shares of a company’s stock with dividends paid out to shareholders before common stock dividends are issued.

· Redeemable preference shares are those shares that can be repurchased or redeemed by the issuing company at a fixed rate and date.

Bank of India Introduces Nari Shakti Savings Account

· Bank of India (BoI) has launched an exclusive savings bank product for women named Nari Shakti Savings Account with an independent source of income.

· It aims to provide them with enhanced privileges and features to support their financial empowerment.

· This account comes with a comprehensive personal accident insurance cover of up to Rs. 100 lakhs, ensuring the safety and security of women account holders.

· Women holding the Nari Shakti Savings Account can avail attractive discounts on health insurance and wellness products, promoting their overall well-being.

· Nari Shakti Savings Account holders can enjoy the convenience of a free credit card, offering greater financial flexibility and convenience in transactions.

· Account holders can benefit from a higher usage limit of up to Rs. 5.00 lakh on point-of-sale (POS) transactions, allowing them to make larger purchases with ease.

Universal Sompo General Insurance Unveils ‘Muskaan’

· Universal Sompo General Insurance introduced “Muskaan", an innovative health insurance policy carefully designed to create a positive social impact and uplift domestic workers and staff.

· Muskaan stands as a specialised health insurance offering dedicated support to domestic workers, providing them with effortless access to comprehensive coverage for medical needs and assistance in the event of an accident.

· The product has been carefully designed to address specific essential needs of vital community members, including housekeepers, nannies or babysitters, caregivers, cooks or personal chefs, gardeners and landscapers, elderly companions, drivers and chauffeurs, and butlers.

IDFC FIRST Bank and Mastercard

· IDFC FIRST Bank has introduced a youth-centric “FIRST SWYP” credit card in partnership with Mastercard.

· This card can be used as a no-interest charge card and has curated features, flexible bill repayments through EMIs, a benefit-laden referral program, and exclusive and relevant merchant partnerships.

· The card will address demands of new-age customers, blending benefits across their favourite categories of spends and lifestyle-related offers and innovative propositions.

· The new card is the Bank’s second youth-focussed credit card.

· It had earlier launched “FIRST Millennia Credit Cards”.

· Cardholders can refer friends and earn benefits, starting from a waiver of annual fees to bonus rewards, movie vouchers, domestic lounge access, and more.

SPORTS

International Tennis Hall of Fame (ITHF)

· Former tennis players Leander Paes and Vijay Amritraj have been elected to the International Tennis Hall of Fame (ITHF).

· They are the first Asian male tennis players to achieve such a feat and to be included in the International Tennis Hall of Fame.

· They will be formally included in the Tennis Hall of Fame in July 2024.

· Leander Paes has won 18 Grand Slam titles in men's doubles or mixed doubles. Vijay Amritraj is a former player, broadcaster and promoter.

· Vijay Amritraj has been selected in the contributor category along with the player.

· The contributor category also includes broadcasters, commentators and journalists.

· Apart from Amritraj, British journalist Richard Evans has also been included in the contributor category.

· The Contributor category primarily recognises people who have contributed to tennis around the world.

AWARDS & PRIZES

World Athletics Award 2023

· Noah Lyles and Faith Kipyegon were named Track Athletes of the Year by World Athletics.

· Noah Lyles of America was declared the best male track athlete at a ceremony held in Monaco.

· Kenya's Faith Kipyegon was declared the best female track athlete.

· American athlete Noah Lyles won three gold medals at the World Athletics Championships in 2023.

· Kenyan athlete Faith Kipyegon has won two gold medals.

SCIENCE & TECHNOLOGY

Iran Sends Animals into Space

· Iran has sent a capsule carrying animals into space as it boosts its Western-contested space programme in preparation for human missions.

· Capsule was launched 130 kilometres (80 miles) into orbit.

· The Salman rocket carried an “all indigenous” capsule weighing 500 kg (1,100 pounds), which is reportedly the heaviest biological capsule ever successfully carried in the history of the Iranian space programme.

· The capsule was ordered by the Iranian Space Agency and developed by the aerospace division of the Ministry of Science, Research and Technology.

· The rocket was built by the aerospace wing of the Ministry of Defence and Armed Forces Logistics.

· Iran started work on sending animals into space in the mid-2000s and had its first successful launch in 2010.

IMPORTANT DAY

National Energy Conservation Day

· National Energy Conservation Day 2023 is observed every year on 14 December.

· National Energy Conservation Day 2023 was first observed on December 14, 1991 by the Bureau of Energy Efficiency BEE, under the Union Ministry of Power, the government of India.

· The Bureau of Energy Efficiency assists in developing and implementing strategies and policies to reduce excessive energy consumption.

· The committee also executed ‘The Energy Conservation Act’ in 2001.

· The main objective of the day is to reduce energy use and encourage people to use it efficiently.

OBITUTARY

Emmy-Winning Actor Andre Braugher

· Emmy-winning actor Andre Braugher, renowned for his notable roles in series such as “Homicide: Life on The Street” and “Brooklyn Nine-Nine,” passed away at the age of 61.

· Braugher was recognized with his breakthrough role in the 1989 film “Glory,” alongside Morgan Freeman and Denzel Washington.

· He won his first Emmy Award in 1998, securing the trophy for lead actor in a drama series.

· In 2006, Braugher clinched his second Emmy for lead actor in a miniseries or movie, showcasing his versatility.

· His contributions to both drama and comedy have left an indelible mark on the entertainment industry.