1. RBI releases web publication entitled ‘Statistical Tables relating to Banks in India: 2021-22’
Tags: Economy/Finance Books and Authors National News
The Reserve Bank released its web publication entitled ‘Statistical Tables relating to Banks in India: 2021-22’ covering the activities of the Indian banking sector on 27 December.
Important facts
The publication presents entity-wise information on major items of liabilities and assets along with their maturity profile, income and expenses, select financial ratios, number of employees, and details of priority sector advances for scheduled commercial banks excluding regional rural banks.
In addition, capital-to-risk-weighted asset ratios, non-performing assets, exposure to sensitive sectors, contingent liabilities, and unclaimed deposits are included.
State-wise distribution of consolidated balance sheet of rural cooperative banks are also presented.
The publication can be accessed on the RBI website through the link ‘Time Series Publications’ under the Database on Indian Economy.
2. Union Minister Hardeep Singh Puri launches guidelines for City Finance Rankings and City Beauty Competition
Tags: National News
Housing and Urban Affairs Minister Hardeep Singh Puri on 28th December launched the guidelines for City Finance Rankings and City Beauty Competition in New Delhi.
Important facts
The City Finance Ranking aims to evaluate, recognize and reward cities based on their current financial status and improvements in financial performance over time.
The City Beauty Competition guidelines aim to encourage and recognize the transformative efforts of wards and cities to create beautiful, innovative and inclusive public spaces.
All cities and wards can participate in the City Beauty Competition.
These initiatives will take the journey of urban rejuvenation of the country to another level.
The government has launched several schemes like Swachh Bharat Mission, Atal Mission for Rejuvenation and Urban Transformation Mission which transformed the country.
3. Indian Institute of Science Bengaluru to be G20 Science working group’s secretariat
Tags: Science and Technology National News
The Indian Institute of Science (IISc), Bengaluru, will function as the secretariat for Science 20 (S20), a working group set up as part of the G20 which will be presided over by India in 2023.
Important facts
The theme of the S20 in 2023 is ‘Disruptive Science for Innovative and Sustainable Development’.
This broad issue will be discussed throughout the year in different regions of India.
Three issues will be discussed at the discussions in Agartala, Lakshadweep, and Bhopal: universal holistic health, clean energy for a greener future, and bridging science and society.
Apart from the discussions, there will be an inaugural conference in Puducherry and a summit in Coimbatore.
About Science 20 (S20)
Established in 2017, the Science 20 (S20) is one of the newest groupings of the G20.
In line with the G20, it has a non-permanent rotating secretariat and operates more like a forum rather than an organisation.
The main objective of the S20 group is to present consensus-based recommendations for selected topics of interest to policy makers.
These science-driven recommendations are developed through task forces consisting of international experts.
A Sherpa is appointed to support and guide the task forces.
Each task force focuses on a broad topic that is relevant to scientists, policy makers, and society alike.
The S20 summit is held annually, usually before the respective G20 summit.
4. 'Bomb cyclone' hits US, more than 200 million people affected
Tags: International News
Recently a powerful "Bomb Cyclone" has hit the United States, affecting at least 200 million people. At least 64 people have died.
Important facts
Temperatures are predicted to plunge -57 degrees Celsius in certain locations due to the largest winter storm to hit the country in decades.
Temperatures dropped across the United States and heavy snow caused power outages in cities, thousands of flights were cancelled and people were stuck in their homes without food.
New York's Erie County, which includes Buffalo, is one of the areas most affected by the winter storm, which stretches from the Canadian to the Mexican border.
What is a 'Bomb Cyclone'?
Bomb cyclone is used by meteorologists to denote a mid-latitude cyclone that rapidly intensifies.
It is a giant winter storm that hits the coast and brings strong winds, flooding, snow and ice.
It consists of a combination of rapidly decreasing pressure and extreme cold.
This particular storm is the most explosive ever seen on the East Coast.
It is called a bomb cyclone because in this the storm strengthens explosively while the pressure subsides.
Formation of 'Bomb Cyclone'
Storms form when a mass of low pressure air (warm air mass) meets a high pressure mass (cold air mass).
The lower the pressure, the stronger the storm.
This occurs when a mid-latitude cyclone intensifies rapidly, dropping at least 24 millibars (millibar measures atmospheric pressure) in 24 hours.
This rapidly increases the pressure difference, or gradient, between the two air masses, causing the winds to be stronger.
5. Zeliangrong United Front signs a peace agreement with Central and Manipur government
Tags: National State News
The government of India and the Manipur government have signed a Cessation of Operation Agreement with an insurgent group of Manipur, Zeliangrong United Front (ZUF), in New Delhi on 27 December 2022.
The agreement was signed by senior officers of the Union Home Ministry, the Manipur government, and the representatives of ZUF in the presence of State Chief Minister N. Biren Singh.
Under the agreement the ZUF has agreed to abjure violence and join the peaceful democratic process as established by law of the land. The agreement provides for the rehabilitation and resettlement of the armed cadres of ZUF. A Joint Monitoring Group will be constituted to oversee the enforcement of the agreed ground rules.
Zeliangrong United Front (ZUF)
The Zeliangrong United Front (ZUF) was established in 2011. It is a Naga group which is active in Manipur. The group claims its objective is to safeguard the interest of 'Zeliangrong Naga tribes in Manipur, Assam and Nagaland. It aimed to create a 'Zeliangrong’ state within the Indian Union comprising the Zeliangrong Naga tribe’s area in Manipur, Assam and Nagaland.
Some prominent Insurgent groups active in Manipur
- Kangleipak Communist Party (KCP)
- United National Liberation Front (UNLF),
- People’s Liberation Army (PLA)
- People’s Revolutionary Party of Kangleipak (PREPAK)
- National Socialist Council of Nagaland – Khaplang (NSCN-K)
- Manipur People’s Liberation Front (MPLF)
- Kuki National Front (KNF)
- Kuki National Liberation Front (KNLF)
6. Power ministry, DRDO ink pact to install early warning systems for power stations
Tags: National News
On 27 December the Ministry of Power has signed a Memorandum of Understanding (MoU) with the Defence Research and Development Organization (DRDO) for the implementation of an early warning system for vulnerable hydroelectric projects/power stations.
Important facts
Power Secretary Alok Kumar and DRDO Chairman Dr Samir V Kamat signed the MoU in New Delhi.
It aims to jointly work towards developing appropriate mitigation measures against avalanches, landslides, glaciers, glacial lakes and other land hazards.
DRDO's expertise will also be utilized in developing a comprehensive early warning system for vulnerable hydroelectric projects/power stations in hilly areas.
With the comprehensive understanding developed through this MoU, separate and specific assignments will be drawn up between DRDO and the respective project developers.
Under the leadership of Union Power Minister RK Singh, the Ministry of Power has taken the initiative to implement Early Warning System (EWS) in hydro power projects especially located in the upper reaches of hilly areas.
Early Warning System (EWS)
It is an adaptive measure to climate change, which uses integrated communication systems to help communities prepare for dangerous climate-related events.
A successful EWS saves lives and jobs, land and infrastructure and provides long-term sustainability.
This will aid in planning in the public sector, saving money in the long run and protecting economies.
7. NTPC inks pact with Italy based firm for green methanol production
Tags: Economy/Finance National News
India's largest power generation company 'National Thermal Power Corporation Limited' (NTPC) has signed a non-binding Memorandum of Understanding (MoU) with Technimont Pvt Ltd, the Indian subsidiary of Italy-based Maire Tecnimont Group, on 26 December.
Important facts
The objective of this MoU is to jointly evaluate and explore the possibility of developing a commercial scale green methanol production facility at NTPC's project in India.
This green methanol project involves capturing carbon from NTPC's power plants and converting it into green fuel.
This agreement will make a significant contribution to the energy transformation in India.
Green Methanol
Green methanol has a wide range of applications. It also includes use as a base material for chemical industries, storage of renewable electricity and as a transportation fuel.
It is also considered as a substitute fuel for maritime fuel applications.
The pilot scale green methanol project is in line with NTPC's commitment towards sustainability and renewable energy.
About NTPC
The NTPC which was earlier known as National Thermal Power Corporation of India is owned by the Government of India. It was set up in 1975.
The Vindhyachal Thermal Power Station in the Singrauli district of Madhya Pradesh, with an installed capacity of 4,760MW, is currently the biggest thermal power plant in India.
It is a coal-based power plant owned and operated by NTPC.
The total installed commercial capacity of the company was 69454 MW before the JPL deal.
Headquarters: New Delhi
Chairman and Managing Director: Gurdeep Singh
8. AVGC Task Force Report calls for National AVGC Mission with budgetary outlay
The Animation, Visual Effects, Gaming and Comic (AVGC) Task Force set up by the Union Information and Broadcasting Ministry has submitted its report to the government. The Task force headed by Apurva Chandra, headed by the Secretary, Ministry of Information & Broadcasting was set up in April 2022.
It also included members from State Governments of Karnataka, Maharashtra, Telangana, heads of education bodies such as All India Council of Technical Education, National Council of Educational Research and Training and representatives of industry bodies - MESC(Media and Entertainment Skills Council), FICCI(Federation of Indian Chambers of Commerce and Industry) and CII(Confederation of Indian industries ).
The Finance Minister Nirmala Sitharaman had announced in the Union Budget 2022-23 the constitution of a Task force on AVGC to identify interventions to build domestic capacity for serving our markets and the global demand.
Some of the key recommendation of the Task Force
In a detailed report submitted to the Ministry of Information and Broadcasting, the Task Force has recommended certain measures. Some of the recommendations are as follows;
- Government shall launch ‘Create in India’ campaign with exclusive focus on content creation, in India, For India & for World.
- A national AVGC-XR mission to be set up for integrated promotion and growth of the AVGC sector.
- Government shall set up a National Centre of Excellence for the sector.
- The Regional Centre of Excellence shall be instituted in collaboration with the State Governments to provide access to local industries and to promote local talent and content.
- It has been recommended by the Task Force to leverage National Education Policy to develop creative thinking with dedicated AVGC course content at school levels to build foundational skills and to create awareness about AVGC as a career choice.
- It has also been recommended to establish AVGC accelerators and innovation hubs in academic institutions, on the lines of Atal Tinkering Labs.
- A dedicated production fund shall be set up for domestic content creation from the country to promote Indian culture and heritage globally.
9. 15 Start-ups selected in product accelerator program
Tags: Science and Technology National News
The Ministry of Science and Technology has said that fifteen Startups, selected in the first-of-its-kind product accelerator program for innovators developing sustainable solutions, will soon start working towards solutions in the healthcare and agriculture domains.
Important facts
This Start-up Incubation and Innovation Center (SIIC) is the first cohort of the manufacturing accelerator program launched by IIT Kanpur.
A total of 15 startups will be selected under the programme. The best performing startups in a cluster of 15 startups will receive a cash award of up to Rs 10 lakh.
About NIRMAN Accelerator Program
Startup Incubation and Innovation Centre, the technology business incubator at IIT Kanpur, launched the NIRMAN Accelerator Program.
It is supported by the Department of Science and Technology, Government of India.
The program focuses on manufacturing startups engaged in the healthcare and agriculture domains, to help them overcome challenges from their prototyping to market journey.
The manufacturing accelerator program has immense potential to tap and capitalize on startups operating in the sector.
Name of the 15 Start-ups
LCB Fertilizers Private Limited
Saptkrishi Scientific Private Limited
BomLife Private Limited
Polycycling Solutions Private Limited
Surobhi AgroIndustries Private Limited
Primary Healthtech Private Limited
Lenek Technologies Private Limited
Aana Crop Solutions Private Limited
Wander Continental Flyer Private Limited
Climec lab Private Limited
ProPlant Foods Private Limited
Meukron Technologies Private Limited
Xfinito Biodesigns Private Limited
Life and Limb Private Limited
NadiPulse Prognostics Private Limited
10. Dharmadam, Kerala becomes first complete library constituency in India
Tags: place in news National State News
The Kerala Chief Minister Pinarayi Vijayan’s constituency Dharmadam has become the first complete library constituency in India. In his Facebook post, the chief minister Vijayan said that out of the total 138 wards in the constituency, there were no libraries in 63 wards. However, with the help of a people’s organization, People’s Mission for Social Development, this task was completed.
Library and Kerala
Kerala which was the first state to achieve 100% literacy status in India is also perhaps the only state in India that has a library in every village.
Puthuvayil Narayana Panicker of Kerala is also known as the Father of the Library Movement in India.
- He started Granthashala Sangam with about 50 small libraries in 1945 in Kerala which grew into a large network of thousands of libraries.
- To honour and acknowledge P.N.Panicker ,Kerala Government declared June 19, his death anniversary, as Vayanadinam (Reading Day) in 1996
- In 2017, Prime Minister Narendra Modi declared June 19 his death anniversary as National Reading Day in India. The following month is also observed as National Reading Month in India.
