NATIONAL NEWS
Kamal Nath is new Chief Minister of Madhya Pradesh
Congress leader Kamal Nath was chosen as the new Chief Minister of Madhya Pradesh, heralding Congress rule in the state after 15 years. Kamal Nath was formally chosen leader of the state Congress legislature party after party President Rahul Gandhi decided on his name over the other aspirant Jyotiraditya Scindia.
- He is the senior-most member of the Lok Sabha, having won nine elections.
Gehlot to be Rajasthan CM, Pilot Deputy CM
The Congress declared that Ashok Gehlot will be the Rajasthan Chief Minister while state Congress chief Sachin Pilot will be his deputy. The announcement was made by party observer for the state K.C. Venugopal. He said the decision was taken by party President Rahul Gandhi.
Government sets up GoM on stressed power assets
The government has constituted a Group of Ministers (GoM) headed by Finance Minister Arun Jaitley to vet the recommendations of a high-level panel on stressed power projects. The panel, headed by Cabinet Secretary P K Sinha, had submitted its report last month.
- It has been decided with approval of the Prime Minister, to constitute a Group of Ministers (GOM) to examine the specific recommendations of High Level Empowered Committee constituted to address the issue of stressed power projects and forward their comments for consideration by the Cabinet.
India's first private UAV factory comes up in Hyderabad
India' first private sector unit for manufacturing unmanned aerial vehicles (UAVs) opened at Adani Aerospace Park in Hyderabad. Built by the Adani Group and Israel-based Elbit Systems, the 50,000 square feet facility will develop Hermes 900 medium altitude long-endurance UAVs for the Indian and global markets.
- The plant has been built at Adani Aerospace Park, the first defence and aerospace complex of Adani Group, at Hardware Park on the outskirts of Hyderabad.
BANKING & FINANCE
Government mulls additional Rs 30,000 crore capital infusion in PSU banks
The government is considering additional capital infusion of up to Rs 30,000 crore in public sector banks as they have been unable to raise required funds from the markets.
- As part of the capital infusion plan announced by the Finance Ministry in October 2017, the government envisaged that public sector banks (PSBs) would raise Rs 58,000 crore from the stock markets by March 2019 to meet Basel III norms.
RBI grants 40 branch licenses to Bandhan Bank
Reserve Bank of India has allowed Bandhan Bank to open as many as 40 more branches, first time after it put a restriction on the bank's branch opening spree three months back. RBI has come down heavily on Bandhan Bank in the last week of September for its failure to bring down promoters' stake to 40% as per the licensing agreement. The regulator barred the bank from opening branches without prior approval.
- Extra info.:
Bandhan Bank CEO: Chandra Shekhar Ghosh
Headquarters: Kolkata
BUSINESS & ECONOMY
Amazon India signs MoU on marketing support for MSMEs
Amazon's Indian arm signed an MoU with the Federation of Indian Micro, Small and Medium Enterprises (FISME) to support sellers in the segment under which the e-commerce major would provide the platform and logistics, while FISME would provide support in the area of policy and regulations.
- Under the memorandum of understanding (MoU), Amazon India, in collaboration with FISME, will conduct various events and workshops across the country in order to encourage MSMEs to sell their products to consumers from India and overseas by leveraging e-commerce marketplace solutions.
ADB to lend $60mn to check floods, riverbank erosion in Assam
India and Asian Development Bank (ADB) signed a $60 million loan agreement to reduce floods and the riverbank erosion in Assam, the Finance Ministry said. The Tranche 2 loan is part of the $120 million multi-tranche financing facility for the Assam Integrated Flood and Riverbank Erosion Risk Management Investment Program approved by the ADB Board in October 2010.
- The loan aims to continue financing riverbank protection works, renovation of flood embankments and community-based flood risk management activities in critically flood-prone areas along the Brahmaputra river in Assam. The loan will have a 20-year term, including a grace period of five years.
SPORTS
ICC ropes in Royal Stag as official sponsor
The International Cricket Council (ICC) has roped in Indian alcobev brand Royal Stag as official sponsor for the next five years. The partnership, which runs through 2023, will cover international events, including the upcoming big-ticket calendar events the ICC Cricket World Cup, ICC T20 World Cup and ICC World Test Championship.
- The company has also roped in seven cricketers Faf du Plessis, Ben Stokes, KL Rahul, Andre Russel, Kane Williamson, Mitchell Starc and Angelo Mathews for its new campaign.
- Extra info.:
ICC Chairperson: Shashank Manohar
Headquarters: Dubai, United Arab Emirates
CEO: Dave Richardson
APPOINTMENTS
'CID' director-producer BP Singh named FTII president
BP Singh, the director-producer of popular television series 'CID', has been named the new president of the Film and Television Institute of India (FTII) Society and Chairman of Governing Council.
- Singh's appointment as a successor to actor and former FTII chief Anupam Kher was announced by the Ministry of Information and Broadcasting. Prior to being nominated as the new FTII chief, Singh was serving in the capacity of vice chairman of the FTII Governing Council.
- Extra info.:
FTII Headquarters: Pune
Yes Bank Names Brahm Dutt As Interim Chairman
Yes Bank Ltd is likely to name independent director Brahm Dutt as the bank’s non-executive interim chairman after former finance secretary Ashok Chawla resigned from the position last month. Brahm Dutt is a former bureaucrat and is one of the oldest members of Yes Bank’s board.
- He held several posts in the state government of Karnataka as well as in the central government and rose to the level of secretary to Government of India.
AWARDS
Jharkhand gets "Krishi Karman" award in rice category
Jharkhand has been selected for Krishi Karman award in the rice category from the Union Ministry of Agriculture. The award to be given away in February next year carries a cash prize of Rs 2 crore and a citation.
- As a gesture of appreciation to farmers of state for achieving the milestone, two progressive farmers, i.e. one male and one female, would also be given Agriculture Minister's Krishi Karman Award.
Tata Steel bags Prime Minister's Trophy for fourth consecutive year
Private steel major Tata Steel Limited said it has been declared as the winner of the Prime Minister's Trophy for the 'Best Performing Integrated Steel Plant' in the country for 2016-17. It was the fourth consecutive year when the company was honoured with this award.
- Ratan Tata Conferred Steel Industry's Lifetime Achievement Award. Tata Steel has been recognized as the best-integrated steel plant 13 times, having won the PM's Trophy 11 times and received the Certificate for Excellence twice.
Odisha boy to receive National Bravery Award from PM
A minor boy from a far-flung village in Odisha's Kendrapara district has been selected for the National Bravery Award for exhibiting exemplary courage in saving his paternal uncle from a crocodile attack.
- Situ Malik (15), a class 10 student in government-run Basudebpur Vidyapitha high school in Kandira village, will receive the coveted award, instituted by Indian Council for Child Welfare, from Prime Minister Narendra Modi on January 23, 2019.
IMPORTANT DAYS
National Energy Conservation Day
National Energy Conservation Day is marked every year in India on 14 December, to drive mass awareness about the importance of energy efficiency and conservation.
- The Energy Conservation Act in India was executed by the Bureau of Energy Efficiency (BEE) in the year 2001, a constitutional body that comes under Government of India and helps in the development of policies and strategies in order to reduce the energy use.
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