Current Affairs - December 23, 2024 Current Affairs

India and Kuwait have elevated their bilateral relationship to a strategic partnership, focusing on cooperation in sectors like pharmaceuticals, IT, FinTech, infrastructure, and security. This milestone was achieved during the meeting between Prime Minister Narendra Modi and the Amir of Kuwait, Sheikh Meshal Al-Ahmad Al-Jaber Al Sabah. The agreements signify a strengthened bond between the two nations, emphasizing their mutual commitment to enhance economic and security collaborations.

India has been awarded the hosting rights for the ISSF Junior Shooting World Cup for Rifle/Pistol/Shotgun in 2025. This will be India’s first Junior World Cup and marks the 9th major ISSF event hosted in the country within the past decade. India has previously hosted six ISSF competitions, including two World Cup Final competitions and four senior ISSF World Cups, showcasing its growing prominence in the international shooting sports community.

India’s first bio-bitumen highway was inaugurated on the Nagpur-Mansar Bypass (NH-44). This innovative road uses lignin derived from crop residues to replace 15% of traditional bitumen, making it eco-friendly and cost-effective. The highway is 40% stronger than traditional asphalt roads, showcasing the potential for sustainable infrastructure development. The project was a collaborative effort between the Central Road Research Institute and Praj Industries, highlighting advancements in green technology for road construction.

ISRO is set to launch the SpaDeX mission in December 2024 aboard PSLV-C60, aiming to demonstrate in-space docking technology using two small spacecraft, SDX01 (Chaser) and SDX02 (Target). This achievement will position India as the fourth nation to master space docking, a critical capability for advanced space missions. The mission’s objectives include demonstrating autonomous rendezvous, docking, and undocking technologies, as well as power transfer and payload operations. SpaDeX will play a vital role in advancing ISRO’s future endeavours, including the Bharatiya Antariksha Station (BAS) and satellite servicing missions.

Sriram Krishnan, an Indian-American entrepreneur and tech leader, has been appointed by President-elect Donald Trump as Senior AI Policy Advisor at the White House. With a rich background in technology, including stints at Microsoft, Twitter, and Facebook, Krishnan will work with David Sacks to shape U.S. AI policy. His expertise in AI, technology, and public policy will play a critical role in ensuring the U.S. remains a global leader in artificial intelligence. Krishnan’s role will also involve coordinating efforts across the government and advising on AI strategies.

Former Supreme Court judge Justice Madan B Lokur has been appointed as the Chairperson of the United Nations Internal Justice Council (IJC) for a 4-year term ending in November 2028. The IJC plays a crucial role in ensuring independence, professionalism, and accountability within the UN's justice system. Justice Lokur, who retired from the Supreme Court in December 2018, brings over six years of judicial experience at the apex court to this prestigious international position.

The Government of India has approved 47 ethanol projects in Bihar for interest subvention on bank loans to establish or expand distilleries. Currently, Bihar operates 22 ethanol distilleries, including molasses-based and grain-based units. This initiative supports the Ethanol Blended Petrol Program, which aims to achieve a 20% ethanol blending target with petrol by 2025-26, promoting sustainable energy and reducing dependency on fossil fuels.

Abhijit Majumder has been appointed as the Chief Financial Officer (CFO) of Oil India Limited, succeeding Rupam Barua. Majumder, who has been serving as Director (Finance) since November 20, is a distinguished member of the Institute of Cost & Management Accountants of India. Oil India Limited, a Maharatna PSU established in 1959, plays a significant role in India's energy sector, with Ranjit Rath serving as its Chairman and Managing Director.

Bajaj Housing Finance has introduced Dual Rate Home Loans and Loans Against Property, featuring a fixed interest rate for the initial three years. This structure ensures predictable EMIs for borrowers during the initial period. After three years, the loans switch to a floating interest rate tied to BHFL’s Floating Rate Reference (FRR), offering market-linked benefits. This innovative product aims to provide stability and flexibility, making it easier for individuals to manage homeownership or property investments effectively.

National Farmers' Day, observed on December 23, honours Chaudhary Charan Singh, India's 5th Prime Minister, for his contributions to agriculture and farmer welfare. The 2024 theme, "Empowering 'Annadatas' for a Prosperous Nation," highlights the vital role of farmers in India's economy. Agriculture contributes 17.7% to the nation's GVA (FY 2023-24) and employs nearly 50% of the population. With 54.8% of India's land classified as agricultural and a cropping intensity of 155.4% (2021-22), the day celebrates the backbone of India's economy.

India emerged victorious in the inaugural U19 ACC Women’s T20 Asia Cup, defeating Bangladesh by 41 runs in the final held in Kuala Lumpur. Gongadi Trisha’s impressive 52-run innings and Aayyushi Shukla’s 3-wicket haul were instrumental in the win. Under the leadership of Niki Prasad, the Indian team remained unbeaten throughout the six-team tournament, showcasing their dominance and skill in the competition.