1. India-China joint training exercise ‘HAND-IN-HAND 2019’ begins in Meghalaya
India-China joint training exercise ‘HAND-IN-HAND 2019’ (8th) has begun today at Umroi, Meghalaya.
The aim of the exercise is to practice joint planning and conduct of counter-terrorist operations in semi-urban terrain
The theme of the exercise is ‘counter-terrorism under United Nations mandate’.
It is a 14-day-long training exercise and will see the participation of around 260 military personals.
2. 7th December: Armed Forces Flag Day
The Armed Forces Flag Day (Flag Day of India) is being observed annually in India on 7th December (since 1949).
The objective of the day honours the martyrs as well as men and women in uniform, who valiantly fight on our borders to safeguard the country’s honour.
Over the years, it has become a tradition to commemorate this day as an honour to the soldiers, sailors and airmen of India.
National Affairs
3. Election Commission Set to implement ‘Political Parties Registration Tracking Management System’ from January 2020
The Election Commission of India has decided to implement the “Political Parties Registration Tracking Management System” (PPRTMS) to help the applicants, applying for party registration, to track the progress of his /her application.
The new guidelines will be effective from 1 January 2020.
It will be implemented through an online portal, to track the status of the application by applicants.
Through PPRTMS, applicants will also get the status of their application update through SMS and email.
Source: PIB
4. Retired IPS K. Vijay Kumar appointed senior security advisor in the Union Home Ministry
Retired IPS officer K Vijay Kumar has been appointed as a senior security advisor in the Union Home Ministry. He was former Advisor to the governor erstwhile state of Jammu &Kashmir.
The 1975 batch officer of Indian Police Service will "advise the ministry on security-related matters of Union Territory of J&K and Left Wing Extremism (LWE) affected States.
Kumar has served as Director-General of CRPF,Director of National Police Academy in Hyderabad and his most talked-about stint was as the chief of the Tamil Nadu police special task force that killed forest brigand Veerappan in 2004.
Source: News on AIR
5. Aberdeen in Andaman and Nicobar Islands adjudged best police station in Country
Union Home Ministry released the list of ten best-performing Police stations in the country.
Aberdeen Police station in the Andaman and Nicobar Islands ranks first in the list while Balasinor police station in Gujarat secured the second rank while and Ajk Burhanpur in Madhya Pradesh got the 3rd position.
The ranking of police stations came after Prime Minister Narendra Modi while addressing the DGPs conference in 2015 in Kutch of Gujarat, had directed that parameters should be laid down for grading police stations and assessing their performance based on feedback.
The annual ranking of Police Stations is eagerly awaited by the country and especially the police forces.
The ranking of the top ten Police Stations out of over 15 thousand 500 Police Stations in the country was done through data analysis, direct observation, and public feedback.
Source: News on AIR
6. IIT researchers to create ‘Gandhipedia’
IIT Kharagpur, IIT Gandhinagar and National Council of Science Museums (NCSM) have joined hands to develop Gandhipedia, an online repository of books, letters and speeches written by Mahatma Gandhi, to commemorate his 150th birth anniversary.
In the first phase, over 40 books written by Mahatma Gandhi will be digitized and indexed and their portions tweeted.
The first phase is expected to be completed by March next year followed by four more phases till March 2024
National Council of Science Museums (NCSM) an autonomous organization under the Ministry of Culture.
Awards and Honours
7. National Florence Nightingale Award for Kerala Nurse Who Treating Nipah Patient
The President of India Ram Nath Kovind presented the National Florence Nightingale Award 2019 to Lini Puthussery posthumously, the nurse from Kerala who died due to Nipah virus. The award was received by her husband Sajeesh P.
The Presidentconferred 36 awardees with the National Florence Nightingale Awards 2019 at an event in Vigyan Bhawan, New Delhi.
The other 35 awardees were Auxiliary Nurse Midwives (ANMs), Lady Health Visitors (LHVs), and nurses from different states and Union Territories (UT).
The World Health Organization (WHO) has declared the year 2020 as the Year of Nurse and Midwife. The year 2020 also marks the 200th birth anniversary of Florence Nightingale, after whom the awards have been named.
8. Ripu Daman Bevli will be the Plogging Ambassador of India on 50th Fit India Plogging Run
During the Conclusion ceremony of Fit India Plogging Run, Shri Kiren Rijiju felicitated Ripu Daman Bevli, popularly known as the Plogman of India and named him the Plogging Ambassador of India.
The minister also launched the nation-wide Plogging Ambassador Mission under which, Indians who have been running and cleaning their cities, towns or districts, will be nominated as Plogging Ambassadors of their region.
Fit India Plogging Run was launched on October 2 which is a unique way of picking up garbage while jogging and was added to the Fit India Movement as a unique way of combining cleanliness and fitness.
Bevli, who started plogging in 2017, started the Fit India Plogging Run with the aim to make India litter-free. Belvi and his team have cleaned up 50 cities and covered over 1000km in about 2 months, collecting 2.7 tonnes of garbage.
Banking and Economy
9. RBI releases New “Guidelines for ‘on tap’ Licensing of SFB in the Private Sector”
The Reserve Bank of India (RBI) released guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector. Now payments banks willing to convert themselves into small finance banks (SFBs) can apply for such a licence only after 5 years of operations.
The licensing window will be open on-tap. In the guideline, the RBI has double the minimum capital for setting up an SFB to ₹200 crores.
For primary (urban) co-operative banks (UCBs), non-banking financial companies, micro-financial institutions (MFIs), local regional bank/payment banks which wish to become SFBs the minimum required capital condition of Rs 200 crore will not be applicable.
But the UCBs want to become SFB will require net worth ₹100 crores, which will have to be increased to ₹200 crores within five years from the date of commencement of business.
SFBs will be given scheduled bank status immediately upon commencement of operations.
10. India’s forex reserves cross $450 billion for the first time
India’s foreign exchange reserves have crossed the $450-billion mark for the first time.
The foreign exchange reserves have increased due to strong inflows which enabled the Reserve Bank of India (RBI) to buy dollars from the market.
The country’s foreign exchange reserves were at $451.7 billion on December 3, 2019, which is an increase of $38.8 billion over end-March 2019.
The Foreign exchange reserves of India consist of four categories which are Foreign Currency Assets, Gold reserves, Special Drawing Rights (SDRs) at IMF, Reserve Tranche Position.
In India, the Reserve Bank of India is the custodian of the foreign currency reserve.
11. Canada's CPPIB to invest $600 million in NIIF Master Fund
Canada’s largest pension fund manager Canada Pension Plan Investment Board (CPPIB) has committed to invest up to $600 million in National Investment and Infrastructure Fund (NIIF).
The investment would be made through a $150 million commitment in the master fund of NIIF and co-investment rights of up to $450 million in future opportunities to invest alongside the master fund.
The fund also has co-investment rights of $3 billion from global and domestic investors, which will allow NIIF write larger cheques for single infrastructure deals
Post the funding, CPPIB will become a shareholder in NIIF’s investment management company
NIIF is India’s first sovereign wealth fund that was set up by the Government of India in February 2015. It manages over $4 billion of capital commitments across three funds.
Note:
NIIF was set up in 2015 along the lines of a sovereign wealth fund with 49% equity held by the Union government and the rest by foreign and domestic investors.
Source: LiveMint
12. BlackBuck partners with IDFC Bank, Yes Bank to offer free FASTags to truckers
Online trucking platform BlackBuck has partnered with private lenders IDFC Bank and Yes Bank to provide FASTags to truck owners free of cost.
Truck owners can order FASTags on BlackBuck's Boss App, a digital services platform exclusively for truck fleet owners, and it will be delivered at their doorstep free of cost until December 31, 2019.
The FASTags on BlackBuck Boss app are provided in partnership with IDFC Bank and Yes Bank. The initiative is expected to help over 3 million trucks in India become FASTag compliant.
From December 1, 2019 all lanes of free plazas on national highways will be 'FASTag lanes'. The FASTag is based on passive Radio Frequency Identification (RFID) technology.
13. NEFT transactions to be made 24x7 from December 16
The Reserve Bank of India announced that all bank customers will be able to transfer funds through NEFT around the clock on all days including weekends and holidays from December 16, 2019.
These transactions after the usual banking hours are set to be automated initiated using 'Straight Through Processing (STP)' modes by the banks. The existing discipline for crediting the beneficiary's account or returning the transaction within 2 hours of settlement to the originating bank will also continue.
The RBI had in August announced that all NEFT transfer facility would be made available 24x7 for customers by December. The first settlement would take place after 00:30 hours on December 16, 2019.
Source: Economic Times
14. Investor Education & Protection Fund Authority (IEPFA) signed a MOU with Bank of Baroda
Investor Education & Protection Fund Authority (IEPFA) signed a MOU with Bank of Baroda for the purpose of creating awareness among investors and other stakeholders.
The two entities are to collaborate for educating the masses about the dangers of fraudulent investment offers and Ponzi schemes.
In 2016, the Government of India established the Investor Education and Protection Fund Authority (IEPFA) under the provisions of section 125 of the Companies Act, 2013.
The Authority is entrusted with the responsibility of administration of the Investor Education Protection Fund (IEPF), make refunds of shares, unclaimed dividends, matured deposits/debentures, etc. to investors and to promote awareness among investors.
IEPF has been set-up under Section 205C of the Companies Act, 1956 by way of the Companies (Amendment) Act, 1999. It works under the Ministry of Corporate Affairs
