Current Affairs Today 12th December 2024 Daily GK Update

Daily Current Affairs 12th December 2024 Daily GK Update

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 National News

MoEFCC Facilitates Landmark Agreements to Advance Circular Economy and Waste Management

• The Ministry of Environment, Forest and Climate Change facilitated the signing of a significant MoU between the Government of Telangana and CSIR, along with agreements with leading recyclers to promote India’s transition to a circular economy.
• The MoU aims to develop a skilled workforce in recycling and waste management, with CSIR providing technical support through training programs in Telangana.
• The agreements between eight CSIR laboratories and recyclers focus on innovative waste management and recycling technologies to establish advanced recycling infrastructure and support domestic waste recycling.
• These initiatives align with the Prime Minister’s call for Mission Circular Economy, aiming to minimize waste, recover valuable materials, and reduce dependence on virgin resources through policies like the Extended Producer Responsibility (EPR).

PM Narendra Modi inaugurates Rising Rajasthan Global Investment Summit

• Prime Minister Narendra Modi inaugurated the Rising Rajasthan Global Investment Summit 2024 and the Rajasthan Global Business Expo at the Jaipur Exhibition and Convention Centre (JECC) in Jaipur, Rajasthan.
• It is part of the Rajasthan Government’s goal of doubling the state’s economy to USD 350 billion in the next five years.
• Theme 2024 – Replete, Responsible, Ready
• The Summit will host 12 sectoral thematic sessions on the themes of water security, sustainable mining, sustainable finance, inclusive tourism, agri-business innovations and women-led Startups among others.
• Eight Country sessions will also be held during the Summit with participating countries on themes like Water Management for Livable Cities’, ‘versatility of Industries- manufacturing and Beyond’ and ‘Trade & Tourism.’

Cabinet approves Singing of MoU between GSI and CNR-IRPI, Italy for Collaboration in Landslide Prediction and Forecasting

• The Geological Survey of India (GSI) will collaborate with Italy’s Research Institute for Geo-Hydrological Protection (CNR-IRPI) to enhance landslide forecasting and early warning systems.
• This partnership, approved by the Union Cabinet, aims to improve India’s Landslide Early Warning Systems (LEWS) to international standards.
• GSI’s state-of-the-art NLFC, based in Kolkata, currently provides daily live forecast reporting in Kalimpong and Darjeeling (West Bengal) and Nilgiri (Tamil Nadu), while ground testing is underway in 13 additional districts. The center’s vision is to ensure timely landslide forecasting to reduce risks and improve preparedness.
• The collaboration will integrate GSI’s landslide inventory, susceptibility, and forecast maps with PM Gati Shakti, enhancing resilience in fragile hilly terrains and supporting sustainable development and environmental protection.

Kyndryl Partners with The Co-operative Bank for Strategic Cloud Migration

• Kyndryl, the world’s largest IT infrastructure services provider, has partnered with The Co-operative Bank to migrate the bank’s existing applications from on-premise environments to AWS Cloud.
• This initiative aims to provide a flexible IT infrastructure, enhancing operational efficiency and service delivery while reducing ongoing costs.
• The partnership builds on a long-standing relationship between Kyndryl and The Co-operative Bank. The transition to AWS Cloud marks a significant milestone in the bank’s digital transformation journey, positioning it to meet evolving market demands and drive innovation.

Fifteenth Finance Commission Grants Released for the Rural Local Bodies of Himachal Pradesh and Goa

• The Union Government has released the Fifteenth Finance Commission (XV FC) Grants during Financial Year 2024–25, for Rural Local Bodies in Himachal Pradesh, 2nd installment of Untied Grants amounting to Rs.70.40 crores along with the withheld amount of 1st installment of Untied Grants for Financial Year 2024–25 amounting to Rs.11.4716 crores.
• These funds are for all eligible 12 District Panchayats, all eligible 81 Block Panchayats and all eligible 3615 Gram Panchayats.
• XV FC Grants during Financial Year 2024–25, for Rural Local Bodies in Goa, 2nd installment of Untied Grants of the Financial Year 2022–23 amounting to Rs.9.69 crores have also been released. These funds are for all eligible 191 Gram Panchayats of the State.
• Government of India through Ministry of Panchayati Raj and Ministry of Jal Shakti (Department of Drinking Water and Sanitation) recommends release of Fifteenth Finance Commission (XV FC) Grants to States for Rural Local Bodies which are then released by Ministry of Finance. The allocated Grants are recommended and released in 2 installments in a Financial Year.
• The Untied Grants will be utilized by Panchayati Raj Institutions (PRIs)/ Rural Local Bodies (RLBs) for location-specific felt needs, under the Twenty-Nine (29) Subjects enshrined in the Eleventh Schedule of the Constitution, except for salaries and other establishment costs

Banking and Financial

ICICI Bank Partners with Commonwealth Bank of Australia to Boost India-Australia Business Corridor

• ICICI Bank has signed an MoU with the Commonwealth Bank of Australia (CBA) to enhance support for customers engaged in the Australia-India business corridor.
• The MoU was signed by Rakesh Jha, Executive Director of ICICI Bank, and Mike Vacy-Lyle, Group Executive of Business Banking at CBA.
• The collaboration aims to foster deeper economic ties between the two nations by exploring several initiatives, including:

Introducing corporate and institutional customers to opportunities for investment or business expansion in India and Australia.

Facilitating trade between corporate customers in both countries through banking services and cross-border trade guidance.

Assisting customers relocating to India or Australia with seamless banking services.

Developing customer-centric solutions for efficient cross-border payments.

Universal Sompo GI Collaborates with CRY to Empower Education for Marginalized Communities in Andhra Pradesh

• Universal Sompo General Insurance has collaborated with Child Rights and You (CRY) to foster educational opportunities for children in marginalized communities in Andhra Pradesh.
• The initiative aims to address barriers to education and equip students with the tools needed to pursue professional courses and brighter futures.
• This program will directly benefit 114 students and 82 families, empowering communities by facilitating access to professional courses and better career opportunities.
• The collaboration will initiate an educational project aimed at establishing Remedial Tuition Centres specifically for 10th and 12th-grade students.
• The project aims to prepare students for their board examinations over a three-month period (Jan to March 2025), ensuring that all enrolled 10th and 12th graders successfully appear for these critical assessments.
• The initiative seeks to improve learning outcomes, particularly in challenging subjects like Mathematics and Science, and guide students toward professional and science-based education streams.

S&P Global retains 6.8% growth for FY25

• The Indian economy is expected to grow by 6.8% in 2024-25 and 6.9% in 2025-26, according to India Outlook by S&P Global Ratings.
• The economy is poised for robust growth in 2025, supported by strong urban consumption, steady growth in the service sector, and ongoing investment in infrastructure.
• In the second quarter of the current financial year, the gross domestic product (GDP) grew by 5.4%, marking a seven-quarter low, due to weak manufacturing and sluggish demand, according to the official data released last month. Manufacturing growth was recorded at 2.2%, down from 7% in the first quarter.
• In the monetary policy meeting last week, the RBI revised its growth estimate for 2024-25 to 6.6% from 7.2% earlier. It also kept the policy rate unchanged at 6.5% for the eleventh consecutive time.

Updated GDP List

• RBI –6.6% (FY2)
• Morgan Stanley – 6.3% (FY25)
• Moody Ratings – 2% (CY24)
• IMF – 7% (FY25), 6.5% (FY26)
• World Bank – 7% (FY25)
• Moody’s – 7.1% (CY24), 6.5% (CY25)
• ADB – 7% (FY24), 7.2%(FY25)

Awards

Shaji N Karun Chosen for J C Daniel Award

• Eminent filmmaker Shaji N Karun has been selected for the J C Daniel Award for 2023, recognising his lifetime contribution to Malayalam cinema.
• The award, the highest honour in Malayalam cinema instituted by the state government, includes a cash prize of Rs 5 lakh, a citation, and a statuette.
• Shaji N Karun was chosen for the award for his contributions that made a mark for Malayalam at the national and international level.

Recent Award

• Social Security Good Practices at Asia-Pacific forum in Saudi – EPFO
• 3rd PSU Transformation Award under the “Innovative Product Development” category – Solar Energy Corporation of India (SECI
• Aster Guardians Global Nursing Award 2024 – Nurse Maria Victoria Juan (from Philippines)
• IGBC Green Champion award 2024 – Bhrat Forge Ltd
• OPCW The Hague Award 2024 – Indian Chemical Council
• JCB Prize 2024 – Upamanyu Chatterjee (for Lorenzo Searches for the Meaning of Life book)

Sports 

F1 Abu Dhabi Grand Prix 2024: Lando Norris win ends McLaren’s long wait for Constructors’ Championship

• McLaren won the World Constructors’ Championship after 26 years, at the Abu Dhabi Grand Prix, the finale of the Formula One 2024 season.
• Carlos Sainz and Charles Leclerc were second and third for Ferrari, respectively.
• McLaren finished with 666 points to Ferrari’s 652 and Red Bull’s 589.
• Seven-time world champion Lewis Hamilton finished fourth in his last race for Mercedes, overtaking teammate George Russell on the 58th and final lap. He joins Leclerc at Ferrari next season.

Recent 2024 F1 Grand Prix Winner

• Abu Dhabi Grand Prix – McLaren’s Lando Norris (British)
• Qatar Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• US Grand Prix – Ferrari’s Charles Leclerc (Monaco)
• Singapore Grand Prix – McLaren’s Lando Norris (British)
• Azerbaijan Grand Prix – McLaren’s Oscar Piastri (Australia)
• Italian Grand Prix – Ferrari’s Charles Leclerc (Monaco)
• Dutch Grand Prix – McLaren’s Lando Norris (British)
• Hungarian Grand Prix F2 – Kush Maini (India)
• Belgian Grand Prix – Mercedes’s Lewis Hamilton (UK)
• Hungarian Grand Prix – McLaren’s Oscar Piastri (Australia)
• British Grand Prix – Mercedes’s Lewis Hamilton (UK)
• Austrian Grand Prix – Mercedes’s George Russell (UK)
• Spanish Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• Canadian Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• Monaco Grand Prix – Ferrari’s Charles Leclerc (Monaco)
• Emilia Romagna Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• Miami Grand Prix – McLaren’s Lando Norris (British)
• Chinese Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• Japanese Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• Australian Grand Prix – Ferrari’s Carlos Saina (Spain)
• Saudi Arabian Grand Prix – Red Bull’s Max Verstappen (Netherlands)
• Bahrain Grand Prix – Red Bull’s Max Verstappen (Netherlands)

2027 Women’s World Cup in Brazil will run from June 24 to July 25

• The 2027 Women’s World Cup in Brazil will be played from June 24 to July 25, FIFA, soccer’s international governing body announced.
• Thirty-two teams will participate in the Women’s World Cup, which is being played in South America for the first time.
• Brazil has one of CONMEBOL’s three spots as host. UEFA has the largest number of slots with 11, followed by AFC with six, CAF and CONCACAF with four apiece and OFC with one. The other spots will be determined via playoff.
• Spain is the defending champion, having won the 2023 Women’s World Cup jointly hosted by Australia and New Zealand.

FIFA Confirms Saudi Arabia As 2034 World Cup Host

• FIFA has confirmed that Saudi Arabia will host the 2034 World Cup, underlining the Gulf kingdom’s growing influence in world sport despite criticism of the country’s human rights record.
• At the same time, a virtual Congress of world football’s governing body confirmed that Morocco, Spain and Portugal will be joint hosts of the 2030 World Cup, in which three games will also be played in South America.
• The Saudi bid was waved through by acclamation during the meeting of FIFA’s 211 national member associations, with no rivals standing in its way.

Important day

11 December – International Mountain Day

• International Mountain Day is celebrated annually on 11 December.
• Objective – To raise awareness about the importance of mountains to life, highlight the opportunities and constraints in mountain development, and build alliances that will bring positive change to mountain peoples and environments.
• Theme 2024 – Mountain solutions for a sustainable future – innovation, adaptation and youth
• This day, which was instituted by the UN in 2003, emphasizes the need for protecting mountain ecosystems and sustaining the means of subsistence for mountain populations

Obituary

Former Karnataka CM SM Krishna passes away at 92

• Former Karnataka Chief Minister and Union Minister SM Krishna passed away at the age of 92.
• Last year, Krishna was awarded the Padma Vibhushan, India’s second-highest civilian honour, in recognition of his political career spanning six decades, starting from his first election way back in 1962 upon his return from the US.
• Krishna is best known for his time as Karnataka chief minister.
• Krishna resigned as MLA as he was appointed as Maharashtra Governor in 2004.
• In 1962, Krishna contested his first election from Maddur and won as an Independent. Krishna also represented Mandya in the Lok Sabha.

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