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01 December, 2024
GK Update
Wed 04 Dec, 2024
National News
Banking Laws (Amendment) Bill, 2024
- The Lok Sabha passed the Banking Laws (Amendment) Bill, 2024 on December 3, 2024.
- The Bill seeks to amend the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, the State Bank of India Act, 1955, the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.
- The Bill also seeks to increase the option for nominees per bank account to four, from the existing one.
About Lok Sabha
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Oilfield (Regulation and Development) Amendment Bill 2024
- The Rajya Sabha gave its nod to the Oilfield (Regulation and Development) Amendment Bill 2024 on 3rd December 2024.
- The Bill amends the Oilfields (Regulation and Development) Act, 1948. It expands the definition of Mineral oils, which include naturally occurring hydrocarbon, coal bed methane, and shale gas.
- It clarifies that mineral oils will not include coal, lignite or helium.
About Rajya Sabha
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World Maritime Technology conference 2024
- The World Maritime Technology conference (WMTC) 2024 under the auspices of the World Maritime Technology Congress, was held in Chennai.
About WMTC
| Triennial global event | In India, WMTC took place in Mumbai in 2009. |
State Special
West Bengal passed resolution against Waqf (Amendment) Bill 2024
- The West Bengal Assembly passes a resolution urging the withdrawal of the Waqf (Amendment) Bill 2024, arguing that it could impact Waqf administration and Muslim representation.
| The Waqf (Amendment) Bill, 2024, aims to bring significant reforms, including digitisation of records, stricter audits, increased transparency, and legal mechanisms to reclaim illegally occupied Waqf properties. |
Government Schemes
Sugamya Bharat Abhiyan
- Sugamya Bharat Abhiyan, also known as the Accessible India Campaign, aimed at creating an accessible and inclusive India for persons with disabilities, celebrated its 9th anniversary on 3rd December.
About Sugamya Bharat Abhiyan
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Economy
Windfall Tax
- The Indian government has abolished the windfall tax on aviation turbine fuel (ATF), crude oil, petrol, and diesel on 2nd December, effective immediately.
Windfall Tax
| A windfall tax is a higher tax imposed on specific industries when they make unusual and above-average profits. |
Science and Tech
Training Programme on “Chemical and Petrochemical Industrial Safety”
- The Department of Chemicals & Petrochemicals launched the first training programme on “Chemical and Petrochemical Industrial Safety” with the motto ‘ Safety First, Sustainability Always: Protecting People and Planet!, at Central Institute of Petrochemical Engineering & Technology (CIPET): Institute of Petrochemicals Technology (IPT) Ahmedabad, Gujarat.
What is the Petrochemicals industry?
| The petrochemicals industry sources raw materials from refining and gas-processing and converts these raw materials into valuable products using a variety of chemical process technologies. |
ZyVac TCV
- Zydus Lifesciences Ltd has received in-principle approval from the World Health Organisation (WHO) for its Typhoid Vi conjugate vaccine, ZyVac TCV.
About Typhoid
| Caused by: Salmonella Typhi bacteria | Bacteria can spread through contaminated food or water |
IN-SPACe recognised as an awarding body
- The National Council for Vocational Education and Training of the Ministry of Skill Development and Entrepreneurship has officially recognized the Indian National Space Promotion and Authorization Center (IN-SPACe) as an awarding body.
About IN-SPACe
| Estb: June 24, 2020 | HQ: Bopal, Ahmedabad | Chairman: Dr. Pawan Goenka |
Environment and Biodiversity
57th Tiger Reserve of India
- Ratapani has been declared as the 8th Tiger Reserve area of Madhya Pradesh and 57th Tiger Reserve of India.
| Tiger Reserves are notified by State Governments as per provisions of Section 38V of the Wildlife (Protection) Act, 1972 on advice of the National Tiger Conservation Authority. | The tiger reserves in India were set up as a part of Project Tiger initiated in 1973. |
Nano Bubble Technology
- Union Minister of State for Forest, Environment and Climate Change Kirti Vardhan Singh launched 'Nano Bubble Technology' for cleaning and purifying water of National Zoological Park, Delhi, to promote the health of aquatic animals.
About Nano Bubble Technology
| Nanobubble technology is a green technology that uses bubbles with diameters less than 1000 nanometers (nm) to improve processes in many industries. |
Sports
First Women's T20 World Cup for the Blind
- During the 26th Annual General Meeting (AGM) of the World Blind Cricket Council (WBCC) announced that "India will host the first-ever Women's T20 World Cup for the Blind in November 2025.
About BCCI
| Estb: 1928 | HQ: Mumbai | President: Roger Binny |
Appointments
Netumbo Nandi-Ndaitwah
- Netumbo Nandi-Ndaitwah has won Namibia's 8th presidential election, becoming its first female president.
About Namibia
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Justice Manmohan
- The Centre has notified the appointment of Justice Manmohan, the Chief Justice of the Delhi High Court, as a judge of the Supreme Court.
- The Chief Justice of India and the Judges of the Supreme Court are appointed by the President under clause (2) of Article 124 of the Constitution.
Important Days
Navy Day
- Navy Day is celebrated on December 4 every year to honor the Indian Navy's achievements. It marks the 1971 Operation Trident, where the Navy sank four Pakistani vessels, including PNS Khaibar.
About Indian Navy
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Awards and Honours
Gotham Awards 2024
- “All We Imagine as Light” won Best International Feature trophy at the reputed Gotham Awards 2024.
Aster Guardians Global Nursing Award 2024
- Nurse Maria Victoria Juan from the Philippines has been announced as the winner of Aster Guardians Global Nursing Award 2024 and awarded with INR 2 Crore at award ceremony held in Bengaluru, India.
Reports and Indexes
International Debt Report
- According to the World Bank’s latest International Debt Report, developing nations collectively spent an unprecedented $1.4 trillion servicing their foreign debt in 2023.
About World Bank
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