NATIONAL NEWS

Development Under Swadesh Darshan 2.0 Scheme

• Gaya and Nalanda in Bihar has been included by the Government of India under the Swadesh Darshan 2.0 scheme.

• Punaura Dham in Sitamarhi District of Bihar has been selected for development under the PRASHAD Scheme of the Government of India.

• Government of India launched Swadesh Darshan scheme in 2014-15 for integrated development of theme-based tourist circuits.

• It was later revamped and re-launched as Swadesh Darshan 2.0 with the focus on developing sustainable and responsible tourism destinations.

• The Central government provides assistance to the State /Union Territories government to develop the tourism Infrastructure.

• The Government of India launched the PRASAD scheme in the year 2014-2015 under the Ministry of Tourism.

• This scheme focuses on developing and identifying pilgrimage sites across India for enriching the religious tourism experience.

Geographical Indication Tagging for Raktsey Karpo Apricot

• Ladakh has got its first Geographical Indication (GI) tag for Raktsey Carpo apricots.

• It is one of the nine items recently registered in the GI tag lists.

• It is famous in Ladakh for its sweetness, white kernel and colour.

• It is most preferred by the consumers for fresh consumption.

INTERNATIONAL NEWS

INSV Tarini to Participate in 50th Edition of Cape Town

• Indian Navy’s sailboat INSV (Indian Naval Sailing Vessel) Tarini has set sail for an expedition to Cape Town, South Africa to participate in the 50th edition of Cape Town to Rio Race 2023.

• The expedition is being undertaken by an Indian Navy crew of five officers including two women officers.

• INSV Tarini is being skippered by Captain Atool Sinha.

• The Cape Town - Rio de Janeiro is one of the most prestigious Trans-Atlantic Ocean races.

• INSV Tarini is known for navigating the globe with an all-women officer crew in the historic expedition titled ‘Navika Sagar Parikrama’ in 2017.

Ferry Service Between Kankesanthurai Port and Pondicherry

• According to the Sri Lankan Ports, Shipping and Civil Aviation Minister, a passenger ferry service between Kankesanthurai port in Jaffna district and Karaikal ports in Puducherry will start in January 2023.

• The Minister announced that passenger transport services will also be started from Thoothukudi (Tamil Nadu) to Colombo in Sri Lanka.

• The ferry services will make travel to Sri Lanka easier from south India, thus providing a boost to tourism in Sri Lanka, which is suffering from its worst-ever economic crisis.

• They will also strengthen the cultural bonds between the two regions.

World Trade Organization

• The United Arab Emirates (UAE) will host the next major meeting of the World Trade Organization set to take place by March 2024.

• The UAE and Cameroon were both to host the event known as MC13 (Ministerial Conference 13), a high-level event scheduled every few years where trade ministers aim to fix new global trade rules.

• The two countries reached an ‘amicable agreement’ for the UAE to host the next meeting, known as MC13 and for Cameroon to host the one after that, citing a letter from the head of the WTO’s General Council sent to Geneva-based ambassadors.

BANKING

India's First-Ever Surety Bond from Bajaj Allianz

• Union Minister for Road, Transport and Highways Nitin Gadkari launched India’s first ever surety bond insurance product from the Bajaj Allianz General Insurance.
• It is expected to reduce the need for bank guarantee for the infrastructure developers.
• The Surety Bond Insurance is a risk transfer tool for the principal (authority which has awarded the contract) and shields the principal from the losses that may arise in case the contractor fails to perform their contractual obligation.
• Unlike a bank guarantee, the Surety Bond Insurance does not require large collateral from the contractor thus freeing up significant funds for the contractor, which they can utilise for the growth of the business.
• The product will facilitate the growth of upcoming infrastructure projects in the country.

RBI Imposes Penalty on Bank of Bahrain and Kuwait BSC

• The Banking sector regulator Reserve Bank of India (RBI) imposed a penalty of Rs 2.66 crore on Bank of Bahrain and Kuwait BSC, India operations for non-compliance with directions on ‘Cyber Security Framework’ in Banks.

• The Reserve Bank of India (RBI) announced that the bank failed to implement systems to detect unusual and unauthorized, internal or external activities in its database.

• The fines were imposed on the bank by RBI under the Banking Regulation Act 1949.

Paytm Board Approves Rs 850-Crore Share Buyback

• The board of One97 Communications Ltd, the listed entity that runs Paytm, approved a share buyback program worth ₹850 crores through an open market route through the stock exchanges method.

• The company will undertake a buyback of up to ₹850 crores (excluding buyback taxes and other transaction costs) at a maximum price of ₹810 per share.

• When a publicly listed company buys its shares from existing shareholders, it’s known as a share buyback.

SPORTS

FIFA World Cup Title

• Argentina won the FIFA World Cup 2022 title third time on 18 December after defeating defending champions France 4-2 on penalties.

• The final match was played at Lusail Stadium in Lusail, Qatar.

• Lionel Messi scored the first goal in the match on a penalty in the 23rd minute.

• He became the first footballer in the world to score in all knockout matches of a World Cup.
• Messi won the Golden Ball award for the best player in the FIFA World Cup 2022. Mbappe won the Golden Boot award for being the top goalscorer.
• Emiliano Martinez of Argentina won the Golden Glove award for being the best goalkeeper.

APPOINTMENTS & RESIGNATIONS

CMD of NHPC Limited

• Rajeev Kumar Vishnoi has assumed the additional charge as Chairman and Managing Director (CMD) of the National Hydroelectric Power Corporation (NHPC).
• Before his appointment, Yamuna Kumar Chaubey NHPC’s Director (Technical) was holding the additional charge of the CMD of the company.
• Currently, he is also the CMD of Rishikesh-based Tehri Hydro Development Corporation India Limited (THDCIL).

IMPORTANT DAYS

World Minority Rights Day

• International Minority Rights Day is celebrated every year on 18 December.
• The purpose of this day is to maintain the right to freedom and equality for minorities and to create awareness about the respect of minorities.
• The day focuses on the challenges and issues faced by minority communities of different ethnic origins.
• The theme for the year 2022 is ‘All in 4 Minority Rights’.
• The National Commission for Minorities was established in the year 1992 by the Central Government under the National Commission for Minorities Act.