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1. Modi Government banned Khalistan Liberation Force under UAPA
The government has banned Khalistan Liberation Force
(KLF) for its involvement in killing of innocent people and police officers,
several bombings on civilian targets in India, collection of funds for terror
activities through extortion, kidnappings, bank robberies and assassination
attempts of important government functionaries. The outfit has been banned
under the Unlawful Activities (Prevention) Act, 1967 (UAPA). The KLF came into
existence in 1986 with the objective of establishing an independent Khalistan
by secession of Punjab from India "through violent means".
2. Pakistan Cabinet approved to issue 'Panda bond' in Chinese currency
The federal cabinet approved the issuance of
Pakistan’s first renminbi-denominated bonds to raise loans from Chinese capital
markets, as the country gradually moves towards giving the Chinese currency a
status at par with that enjoyed by the US dollar. The interest rate may range
above 5.5% but the final price can only be determined at the time of launching
the bond. The Philippines has also raised RMB1.46 billion through
renminbi-denominated bonds at an interest rate of 4.75%. In the Long-term Plan
of the China-Pakistan Economic Corridor (2017-30) both countries had decided to
use renminbi as the second international currency to lessen Pakistan’s reliance
on dollar. ♦ Current Finance Minister of Pakistan - Asad Umar
3. Indian Railways announced 40% fare concession for transgender senior citizens
The concession for a person of the third gender,
aged 60 years or above, will be available from January 1, 2019. Till now, only
men who are 60 years and above, and women aged 58 years and above got the
concession. The rate of concession is 40 per cent for men and 50 per cent for
women. Though a column for transgender (T) was introduced in the reservation
form, the concession was not admissible to them. As of December of 2018, the
Indian Railways offers concessions on ticket prices to 53 different categories
ranging from 10 per cent to 100 per cent.
4. Chagari Praveen Kumar appointed as Chief Justice of new Andhra HC
He will become acting Chief Justice of AP High
Court, with effect from Jan 1, 2019. Earlier, the Union Law Ministry issued an
order signed by President Ram Nath Kovind, which said Andhra Pradesh will have
its own High Court at its capital Amaravati and the Hyderabad High Court shall
become High Court for Telangana.
5. World's busiest single-runway airport after Mumbai sold for USD 3.7 bn
French infrastructure giant Vinci has agreed to
acquire control of London's Gatwick Airport, the world's second-busiest single
runway airport after Mumbai, for $3.7 billion. Vinci, which manages 45 airports
in 12 countries including Chile and Cambodia, will own a 50.01% stake in
Gatwick Airport. The purchase comes ahead of the UK's departure from the
European Union on March 29.
6. Cabinet approved the draft National Commission for Indian System of Medicine Bill
The Union Cabinet approved the draft National
Commission for Indian System of Medicine Bill, 2018. The NCIM will promote the
availability of affordable healthcare services in all parts of the country. The
draft Bill will enable the constitution of a National Commission with four
autonomous boards for the purpose of conducting overall education in Ayurveda,
Unani, Siddha, and Sowarigpa. There are two common boards, namely the board of
assessment and rating to assess and grant permission to educational
institutions of Indian systems of medicine, and board of ethics and
registration of practitioners of Indian systems of medicine to maintain a
National Register and ethical issues relating to practice under the National
Commission for Indian Medicine. The Bill proposes an entrance and an exit exam
that all graduates need to clear to get practising licenses. This is to assess
the standard of teachers before appointment and promotions.
7. India announced Rs.4,500 crore assistance for Bhutan
Prime Minister Narendra Modi announced that India
will help Bhutan’s development needs by providing Rs.4,500 crore while visiting
Bhutan’s Prime Minister Lotay Tshering. Dr.Tshering indicated his government’s
commitment to maintain warm ties with India. Bhutan remains one of the key
recipients of development assistance from India. According to the Ministry of
External Affairs, India provided Rs.4,500 crore for the 11th five-year plan
that lasted between 2013 and 2018. India is committed to supporting Bhutan’s
next five-year plan to begin shortly. Mr. Modi said that to share the benefit
of the South Asian Satellite, the Indian Space Research Organisation (ISRO) is
moving ahead with plans to set up a ground station in Bhutan that will help in
telemedicine, disaster relief, and climate trends.
8. Tripura government approved NCERT syllabus in schools
The Tripura government approved the proposal for
replacing the school syllabus prevalent under the previous Left Front regime
with the NCERT curriculum in all the State-run and aided schools from the next
academic session, beginning April 2019. It had also suggested the implementation
of the Central Board of Secondary Education (CBSE) syllabus across all
government and government-aided schools in the State. The government had
also decided to bring an ordinance to constitute a State-level higher education
board in accordance with the directives of the Union Ministry of Human Resource
Development.
9. Cabinet approved relaxation for activities falling in CRZ
The Union Cabinet approved relaxation in various
norms including the clearance of projects or activities falling in the Coastal
Regulation Zone (CRZ), allowing for greater use of coastal areas for tourism
and industrial growth. This will enable redevelopment of these areas to meet
the emerging needs. The move for 2018 Notification comes after a series
of representations received by the Ministry of Environment, Forest &
Climate Change from various Coastal States/UTs for a comprehensive review of
the provisions of the CRZ Notification, 2011, particularly related to the
management and conservation of marine and coastal ecosystems, development in
coastal areas, eco-tourism, livelihood option and sustainable development of
coastal communities etc. The recommendations were further examined in
consultation with Members of Parliament of Coastal States and Union Territories
besides other concerned Ministries of Government of India. A draft notification
was issued in April 2018 for inviting comments from the public at large.
10. National Childrens Science Congress Begins In Bhubaneswar
Odisha Chief Minister Naveen Patnaik inaugurated
26th edition of National Children’s Science Congress in Bhubaneswar in which as
many as 800 students from ten Asian and seven Gulf countries are participating.
This year’s theme is ‘Science, Technology and Innovations: For clean, green and
healthy nation’.
11. Modric beats Djokovic to win Balkan athlete of the year award
Croatia’s captain and Spanish club Real Madrid’s
midfielder Luka Modric was named the Balkan Athlete of the year beating Men’s
tennis world number one player Novak Djokovic. The poll to name Balkan Athlete
of the year was organized by the Bulgarian News Agency (BTA). Serbian player
Novak Djokovic got the second position whereas women’s number one tennis
Romania’s Simona Halep got the third position in the Balkan’s poll. Luka Modric
leads Croatia to the FIFA World cup final and bagged player of the tournament for
the FIFA 2018 organized in Russia.
12. Bombay HC approved Sunburn festival
The Bombay High Court gave clearance to the annual
Sunburn music festival in Pune provided norms regarding noise pollution and
prohibition of underage drinking were followed at the three-day event. The
festival is to take place in Pune from December 29 to 31. The judgement comes
after the Public Interest Litigation (PIL) filed by a BJP corporator, seeking
that the authorities be directed to ensure that noise pollution norms are
followed by the organisers. The PIL also wanted the court to prohibit
consumption of alcohol by underage revellers. A vacation bench of Justice
Bharati Dangre directed local police and civic authorities to ensure that noise
norms and other laws are followed at the Electronic Dance Music (EDM) event.
13. Cabinet approved the Gaganyaan programme
The Cabinet approved the Gaganyaan programme, which
will send three Indian astronauts to space for up to seven days by 2022 at a
cost of Rs.10,000 crore. As part of the programme, two unmanned flights and one
manned flight will be undertaken. The demonstration for the first human
spaceflight is targeted to be completed within 40 months of the sanction date.
The Indian Space Research Organisation (ISRO) has developed the launch vehicle
GSLV MK-III, which has the necessary payload capability to launch a
three-member crew module in low earth orbit. The ISRO has also tested the crew
escape system which is an essential technology for human space flight. Elements
of the life support system and the space suit have also been realized and
tested.
14. India pips China in FDI inflows for the first time in 20 years
According to data from Dealogic, a global Mergers
& Acquisitions (M&A) and capital markets data provider, India has been
getting more foreign investment than its neighbor China for the first time in
two decades. In 2018, India whose financial market is supported by stable
fundamentals, a bankruptcy code and fresh opportunities in sunrise sectors, saw
more than $38 billion of inbound deals compared with China’s $32 billion.
China, which has historically been the favorite for emerging market bets, is
facing slowdown nowadays because of its trade standoff with the United States.
India has a busy Mergers & Acquisitions (M&A) calendar in 2018 and it
will continue to see good traction in inbound M&As besides, global
investors are typically focusing on India despite short-term uncertainty over
the political climate.
15. HDFC Group pipped Tata Group as Indias largest business house worth Rs. 10.40 lakh crore
According to Bloomberg data, Deepak Parekh-led HDFC
group overtook Tata Group become the country’s largest conglomerate in terms of
market capitalization. The total market capitalization (MACP) of the group’s
five listed companies is currently valued at Rs 10.40 lakh crore, which is Rs
1,185 crore more than that of Tata Group. HDFC Bank, a part of the group, is
only the third company in Indian corporate history to cross the Rs 5-lakh crore
market capitalization threshold, after TCS (Rs 7.16 trillion) and RIL (Rs 7.09
trillion).
16. ICICI topped list of banks penalising staff for fraud in 2015-2017: RBI data
According to data furnished by the Reserve Bank of
India, between 2015 and 2017, private lender ICICI Bank penalized the highest
number of employees for defrauding bank assets in the last three year out of 60
scheduled commercial banks operating in India. It is followed by State Bank of
India and Punjab National Bank.
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