We are here for you to provide the important Recent and Latest Current Affairs 12 December 2024, which have unique updates of Latest Current Affairs 2024 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.
Our Current Affairs December 2024 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, try our Latest Current Affairs Quiz and Monthly Current Affairs 2024 PDF which will be a pedestrian to crack your exams.
Read Current Affairs in CareersCloud APP, Course Name – Learn Current Affairs – Free Course – Click Here to Download the APP
Click here for Current Affairs 11 December 2024
Click here for Affairscloud Hindu Free Vocabs telegram channel
NATIONAL AFFAIRS
Highlights of International Film Festival of India 2024 held in Goa
The 55th edition of the International Film Festival of India (IFFI) was held from 20th November to 28th November 2024 at Dr. Shyama Prasad Mukherjee Stadium in Panaji, Goa.
- The theme of IFFI 2024, “Young Filmmakers – The Future is Now,” reflecting the importance of youth in shaping the future of cinema.
- The festival was organized by the Ministry of Information & Broadcasting (MIB), in collaboration with the National Film Development Corporation (NFDC) and the Entertainment Society of Goa (ESG).
Opening Ceremony:
The Opening Ceremony hosted by popular film personalities Abhishek Banerjee and Bhumi Pednekar.The festival opened with the Asia premiere of Better Man, an Australian film directed by Michael Gracey that depicts the life of popstar Robbie Williams who was portrayed as a chimpanzee by Jonno Davies.
Closing ceremony
The festival concluded with the Closing film, “Dry Season” – directed by the acclaimed Czech filmmaker Bohdan Sláma, depicting the story of humanity, sustainability, and generational bonds and a conflict between two family clans.
>> Read Full News
Amara Raja Infra builds India’s first green hydrogen fueling station in Leh
In November 2024, Union Minister Manohar Lal Khattar, Ministry of Power (MoP) and Ministry of Housing and Urban Affairs (MoHUA) inaugurated India’s first green hydrogen fueling station in Leh, Ladakh. The station was developed by Hyderabad(Telangana) based Amara Raja Infra Private Limited for NTPC Limited(formerly known as National Thermal Power Corporation).
- The fueling station produces 80 kilogram(kg) of Green Hydrogen (GH2) per day at an altitude of 3,400 meters(m) above the sea level with temperatures varying between -25°Celsius to 30°Celsius.
- NTPC now operates five hydrogen fuel cell buses in the Leh region.
i.The project aims to provide emission-free transport in the Leh region, placing India among the global leaders in green mobility.
ii.The project would serve as a precursor to large-scale green hydrogen mobility and storage projects as part of India’s National Green Hydrogen Mission(NGHM) to support large-scale green hydrogen mobility and storage projects.
Note: In October 2024, JSW Renew Energy signed a 700 MW solar power purchase agreement with NTPC to enhance India’s renewable energy capacity.
India’s First Hyperloop Test Track for High Speed Transportation
On December 5 2024, India’s first Hyperloop test track measuring 410 meters(m) was successfully completed at Indian Institute of Technology (IIT) Madras, Discovery Campus in Thaiyur, TamilNadu (TN). The announcement was made by Union Minister Ashwini Vaishnaw, Ministry of Railways (MoR).
- The test track was developed through a collaborative effort involving the Indian Railways (IR), IIT Madras’ Avishkar Hyperloop team and the TuTr incubated startup at IIT Madras.
i.The first full scale Hyperloop project in India is set to connect Mumbai and Pune (Maharashtra), reducing travel time between the two cities to just 25 minutes.
ii.The Hyperloop is an innovative high speed transportation system designed to transport pods, which carry 24-28 passengers, through low pressure tubes at speeds up to 1,100 kilometre per hour(km/h).
iii.With an estimated cost of Rs 1.5 billion/km, this system promises high speeds, energy efficiency, reduced congestion and lower noise pollution marking a significant leap towards future mobility in India.
Note: The Hyperloop concept was originally popularised by Elon Musk in 2012.
INTERNATIONAL AFFAIRS
UN Climate Change Conference, COP29 conducted at Baku in Azerbaijan
The 29th Conference of the Parties to the United Nations (UN) Framework Convention on Climate Change (UNFCCC COP29) took place in Baku, Azerbaijan from 11th to 22nd November 2024.UN Climate Change Executive Secretary Simon Stiell inaugurated COP29.
- The event also included the 19th meeting of the COP serving as the Meeting of the Parties to the Kyoto Protocol (CMP 19), and the 6th meeting of the COP serving as the Meeting of the Parties to the Paris Agreement (CMA 6) with an aim to complete first enhanced transparency framework and the new collective quantified goal on finance, among other matters.
- The 61st sessions of the Subsidiary Body for Scientific and Technological Advice (SBSTA 61) and the Subsidiary Body for Implementation (SBI 61) will also be conducted alongside the event.
- The COP29 Presidency of Azerbaijan announced that the Baku Finance Goal (BFG) to send USD 1.3 trillion in climate finance every year to developing countries, much higher than the previous USD 100 billion goal. This will help boost global investment.
- India focused on accountability, green credit, fair financing, and achievable climate goals for its developing economy at CoP29.
- COP29 adopts new operational standards for global carbon market under Paris Agreement Article 6 to enhance international collaboration for reducing carbon emissions.
- The world’s largest multilateral development banks (MDBs) announced an ambitious new climate finance goal at COP29, pledging to increase funding for low- and middle-income countries to USD 120 billion annually by 2030.
- Union Minister Kirti Vardhan Singh delivers India’s National Statement at the High-level Segment of the CoP29.India’s renewable energy capacity has almost tripled since 2014 and is set to achieve the 500 gigawatts target by 2030.
Click here for complete Important Events held at CoP29
>> Read Full News
Finland Unveils World’s First National Soundscape: Ääniä by Lauri Porra
On December 6, 2024, Finland launched its first ever national soundscape titled ‘Ääniä’ on the occasion of the country’s 107th Independence Day.
- As the first country in the world to introduce a national soundscape, Finland sets a new standard in cultural expression through music.
i.The title Ääniä, meaning “sounds” or “voices” in Finnish, offers a musical journey through the nation’s landscapes, seasons, and way of life.
ii.It was composed by Lauri Porra, a celebrated figure in both classical and metal music.
iii.This 1 hour long soundscape consists of 15 compositions that reflect Finland’s deep connection to nature and cultural heritage.
Note: According to the 2024 World Happiness Report (WHR), Finland is the happiest country in the world for the 7th year in a row.
BANKING & FINANCE
Highlights of RBI’s 5th Bi-monthly Monetary Policy of FY25
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) met from 4th December to 6th December 2024 and released its 5th Bi-Monthly Monetary Policy of Financial Year 2024-25 (FY25). The six-member rate-setting panel has revised India’s FY25 Gross Domestic Product (GDP) growth forecast down to 6.6% from the previous projection of 7.2% for FY25. The December FY25 meeting was RBI’s 52nd MPC meeting.
- RBI has projected the real GDP growth for 2024-25 with Q3 at 6.8% and Q4 at 7.2%. Real GDP growth for Q1:2025-26 is projected at 6.9%; and Q2 at 7.3%.
- RBI raises FY25 inflation estimate to 4.8%, CPI to remain elevated in Q3
- RBI allows SFBs to offer pre-sanctioned credit lines on UPI
- RBI reduces CRR to 4% to ease anticipated liquidity stress
- RBI increases collateral free loan limit for farmers from Rs 1.6 lakh to Rs 2 lakh
- RBI unveils MuleHunter to prevent digital frauds
- RBI to link FX-Retail platform to NPCI Bharat Connect
- RBI to introduce new benchmark SORR based on secured money markets
Deutsche Bank AG, India Provides 91 Million Euros Sustainability-linked-Loan to SMFG India Credit
On December 9 2024, Deutsche Bank AG, India, a fully integrated financial services provider of Germany based Deutsche Bank AG, announced that it has provided a loan of 91 million euros (about Rs 813 crore) to SMFG India Credit Company Limited (SMICC), a wholly-owned subsidiary of Japan-based Sumitomo Mitsui Financial Group (SMFG).
- The loan is compliant with Deutsche Bank’s Sustainable Finance framework criteria.
Key Points:
i.This is a sustainability-linked loan was facilitated through the Deutsche Bank’s Gujarat International Financial Tec-City (GIFT City) branch in Gandhinagar(Gujarat) for a period of 3 years.
ii.SMICC plans to channel the funds toward micro, small, and medium enterprises (MSMEs) and enhance its impact in rural areas.
iii.The loan will not just help in the expansion of SMICC’s portfolio and provide financial support to MSMEs .
iv.It will also support the women entrepreneurs in the underserved semi-urban areas of the country.
About Deutsche Bank AG:
Chief Executive Officer (CEO)- Christian Sewing
Headquarters- Frankfurt, Germany
Established- 1870
About SMFG India Credit Company Limited (SMICC):
It is an Indian Non-Banking Financial Company (NBFC), which was formerly known as Fullerton India Credit Co. Ltd (FICCL).
Chief Executive Officer (CEO) and Managing Director (MD)- Shantanu Mitra
Headquarters- Mumbai, Maharashtra
Established- 2007
ECONOMY & BUSINESS
GoI Removes Windfall Tax and Road Infrastructure Cess on ATF, Crude Oil, Petrol, and Diesel Exports
On 2 December 2024, the Department of Revenue (DoR), Ministry of Finance (MoF) has notified that the Government of India (GoI) has withdrawn the Special Additional Excise Duty (SAED), commonly known as the Windfall tax, thereby eliminating levies on Aviation Turbine Fuel (ATF), crude oil, petrol, and diesel. This move, effective immediately, aims to enhance profitability in the oil sector, foster growth in the energy industry, and boost exports.
- Alongside, the Road and Infrastructure Cess (RIC) on petrol and diesel exports has also been removed.
- The Windfall Tax was introduced in July 2022 to address extraordinary profits earned by oil companies during a period of soaring global crude oil prices, triggered by the Russia-Ukraine conflict.
About Ministry of Finance (MoF):
Union Minister– Nirmala Sitharaman (Rajya Sabha- Karnataka)
Minister of State (MoS)- Pankaj Chaudhary (Constituency- Maharajganj, Uttar Pradesh, UP)
>> Read Full News
SBI Projects India’s GDP Growth at 6.3% for FY25
On December 6 2024, the State Bank of India (SBI), India’s largest Public Sector Bank (PSB) released its latest Economic Research Department (ERD) report. It has projected India’s Gross Domestic Product (GDP) growth at 6.3%, lower than the Reserve Bank of India (RBI)’s projection of 6.6% for the Financial Year 2024-25 (FY25). As per the report, the average growth rate of 1st two quarters of FY25 is now at 6.05%.
- This projection comes following the RBI sharply downgraded its real GDP growth projection for FY25 from 7.2% to 6.6% during the 5th bi-monthly Monetary Policy Committee (MPC) meeting held on 6th December 2024, due to the balanced risks to the economy.
i.The decreased GDP prediction emphasized on the need for continued vigilance in monitoring economic developments.
ii.The report highlights growing caution in growth forecasts amid global and domestic economic challenges.
AWARDS & RECOGNITIONS
US Awasthi, MD of IFFCO wins Rochdale Pioneers Award 2024
Dr. Udai Shanker Awasthi, Managing Director (MD) and Chief Executive Officer (CEO) of Indian Farmers Fertiliser Cooperative Limited (IFFCO), was honored with the ‘Rochdale Pioneers Award 2024’ by the International Cooperative Alliance (ICA) in recognition of his significant contributions to advancing the cooperative sector in India.
- Ariel Guarco, ICA president presented the award to Awasthi during the ICA Global Conference 2024 in New Delhi,Delhi.
- Awasthi is the 2nd Indian to receive the award after Verghese Kurien, the Father of the white revolution honored in 2001.
i.In 2000, the ICA established the Rochdale Pioneers Award to honor individuals or, in exceptional cases, cooperative organizations, that have made significant contributions to innovative and financially sustainable cooperative initiatives.
ii.Awasthi joined IFFCO in 1976 as a chemical engineer. Under his leadership, the cooperative’s production capacity grew by 292% and its net worth surged by 688%.
iii.In December 2024, Dr US Awasthi was also honoured with ‘Fertilizer Man of India’ during the 8th National Convention of Sahakar Bharati at Amritsar, Punjab.
Note: According to the World Cooperative Monitor (WCM) Report 2023, IFFCO ranked first among the top 300 cooperatives in the world.
APPOINTMENTS & RESIGNATIONS
John Dramani Mahama elected as the President of Ghana
On December 9 2024, John Dramani Mahama, political leader of National Democratic Congress (NDC) was elected as the President of Ghana for the second time. He won the Presidential election by succeeding Vice President Mahamudu Bawumia, New Patriotic Party (NPP) candidate, with 60.9% of votes tallied.
- John Dramani Mahama will assume office as the 6th President of the fourth Republic and the 14th President of the Republic of Ghana on 7th January 2025 by replacing incumbent president Nana Addo Dankwa Akufo-Addo.
- He previously served as President of Ghana from July 24 2012 to January 7 2017.
About John Dramani Mahama:
i.John Dramani Mahama, a communication expert, historian, and writer, has been an active member of the National Democratic Congress (NDC).
ii.He was first elected to the Parliament of Ghana in 1996. He was appointed as the Deputy Minister for Communications in 1997 and substantive Minister for Communications between 1998 and 2001.
iii.He has held the position of Vice President from January 2009 until July 2012, stepping into the role of President following the death of his predecessor, John Atta Mills.
About Ghana:
President- Nana Addo Dankwa Akufo-Addo
Capital- Accra
Currency- Ghanaian Cedi (GHS)
Shammi Silva Takes Over as 29th President of ACC
On December 6 2024, Shammi Silva, the head of Sri Lanka Cricket (SLC), has taken over as the 29th President of the Asian Cricket Council (ACC),
- He succeeded India’s Jay Shah, who became the Chairman of the International Cricket Council (ICC) on December 1 2024.
About Shammi Silva:
i.Shammi Silva has a rich sporting background. He played cricket for the Colombo Cricket Club(CCC) during the 1983-84 season, where he also captained the team.
ii.Beyond cricket, he was actively involved with the Sri Lanka squash national team, serving as a member, manager, and coach.
iii.In May 2023, he was re-elected for the third consecutive term as Sri Lanka Cricket (SLC) President.
iv.Shammi Silva brings extensive experience in cricket governance, having served as the Chairman of the ACC Finance & Marketing Committee and as a member of the ICC Audit Committee.
Note: Jay Shah had served three terms as ACC President. Under his leadership, the ACC achieved remarkable milestones, including record-breaking commercial rights valuations for Asia Cup tournaments from 2024 to 2031.
About Asian Cricket Council (ACC):
The Asian Cricket Council (ACC), established in 1983, is an organization dedicated to promoting and developing the sport of cricket in Asia. It operates as a subordinate body to the International Cricket Council (ICC).
Chairman– Shammi Silva (Sri Lanka)
Headquarters– Colombo, Sri Lanka
Pankaj Tripathi Appointed Festival Ambassador for Arunachal Rang Mahostav 2024
In November 2024, Renowned Indian Actor, Pankaj Tripathi was appointed as the Festival Ambassador for the Arunachal Rang Mahotsav 2024 (ARM2024), which is the largest international theatre festival in Northeast India.
- This was the 2nd edition of ARM which was held from 22nd November to 5th December, 2024 at Indira Gandhi Park in Itanagar, Arunachal Pradesh (AR).
- This latest edition of ARM was organised by ARM in collaboration with the Arunachal Pradesh Literary Society (APLS) and sponsored by the Tourism Department of AR.
i.Pema Khandu, Chief Minister (CM) of AR, Chowna Mein, Deputy CM of AR and other dignitaries were present at the opening ceremony of ARM 2024.
ii.This 15-day festival featured various cultural performances, including proscenium theatre, street plays and intimate stage productions.
- It has showcased both national and international performances from 5 countries including Poland, the United States of America (USA), Nepal, Taiwan and India.
SCIENCE & TECHNOLOGY
GRSE Signs Contract for MPVS and Delivers USV ‘Jaldoot’ to DRDO
On December 4 2024, Kolkata(West Bengal, WB) based Garden Reach Shipbuilders & Engineers Limited (GRSE), a Central Public Sector Enterprise(CPSE) signed a contract for the construction and delivery of the second vessel in a series of four additional 7,500 DWT Multi-Purpose Vessels (MPVs) in Hamburg, Germany.
- The contract for the remaining two vessels in this series will be communicated as and when the respective contracts are signed.
Key Points:
i.This development builds on GRSE’s partnership with Carsten Rehder Schiffsmakler und Reederei GmbH & Co, KG of Germany, established in June 2024 for MPVs construction and delivery of MPVs.
ii.In September 2024, GRSE confirmed that the customer has placed an order for the additional four MPVs under the same terms.
iii.The contract value for the additional four vessels is USD 54 million, taking the total for eight MPVs to USD 108 million. The project is set to be completed within 33 months from the contract date.
GRSE Hands Over Jaldoot Unmanned Surface Vessel (USV):
i.GRSE formally handed over the “Jaldoot,” an Unmanned Surface Vessel (USV), to the Naval Science and Technological Laboratory (NSTL) in Visakhapatnam, Andhra Pradesh (AP). This marks a pivotal step in advancing autonomous vessel technology within India.
ii.The Jaldoot project represents a collaborative effort between GRSE, Visakhapatnam based NSTL, part of the Defence Research and Development Organisation (DRDO), and Rekise Marine Private Ltd, a Hyderabad (Telangana) based Indian start-up that contributed to its design and development.
iii.This initiative highlights India’s growing expertise in research and development and demonstrates the potential of local start-ups in driving innovation.
About Garden Reach Shipbuilders & Engineers Limited (GRSE):
Chairman and Managing Director (CMD)- PR Hari
Headquarters- Kolkata, West Bengal, WB
Established– 1884
ISRO and ESA signs TIP to provide Ground Support for Gaganyaan Missions
On December 4 2024, the Indian Space Research Organisation (ISRO) and the European Space Agency (ESA) signed a crucial Technical Implementation Plan (TIP) aimed at providing critical ground tracking support for India’s Gaganyaan missions (human spaceflight mission).
- This collaborative effort was set to enhance the communication and monitoring of India’s 1st human spaceflight mission.
i.The primary objective of this agreement is to enable ESA to provide ground station support for the Gaganyaan missions ensuring continuous data flow and communication with the Orbital Module during its orbital operations.
ii.In August 2024, the TIP was signed by Anilkumar A K, Director of ISRO’s Telemetry, Tracking and Command Network (ISTRAC) and Dietmar Pilz, Director of Technology, Engineering & Quality at ESA’s European Space Research and Technology Centre (ESTEC), the Netherlands in the presence of S Somanath, Chairman of ISRO and Didier van der Hasselt, Belgium’s Ambassador to India, at the Satish Dhawan Space Centre (SDSC), Sriharikota, Andhra Pradesh(AP).
About European Space Agency (ESA):
Director General(DG)- Josef Aschbacher
Headquarters- Paris, France
Establishment– 1975
Members- 22
>> Read Full News
BOOKS & AUTHORS
Dr. Ashutosh Kotwal’s biography “Beyond The Higgs Boson : The W Boson and Dr Ashutosh Kotwal’s Quest for the Unknown” released
In November 2024, the biography titled “Beyond the Higgs Boson: The W Boson and Dr. Ashutosh Kotwal’s Quest for the Unknown” has been released. The biography was published by Harpercollins Publishers India.
- It was authored by Dr. Ashutosh Kotwal’s mother Manik Kotwal in Marathi as ‘Putra Vhava Aisa to critical acclaim’ and translated into English by Jerry Pinto.
i.This book chronicles the extraordinary life of Dr. Ashutosh Kotwal, a renowned Indian physicist who made pivotal contributions to the discovery of the Higgs boson and the W boson.
ii.It highlights his groundbreaking research and key role in the 2012 Higgs boson discovery at the Large Hadron Collider.
IMPORTANT DAYS
SAARC Charter Day 2024 – December 8
The South Asian Association for Regional Cooperation (SAARC) Charter Day is annually observed on 8th December to commemorate the signing of the SAARC Charter in 1985 during the inaugural SAARC Summit held in Dhaka, Bangladesh.
- 8th December 2024 marks the 40th observance of SAARC Charter Day.
Background:
i.SAARC is a geopolitical and economic organization that includes eight countries: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.
ii.It was formed when the SAARC Charter was adopted during its first summit in Dhaka, Bangladesh, on December 7-8, 1985.
iii.The first-ever SAARC Charter Day was observed on 8th December 1985.
About the South Asian Association for Regional Cooperation (SAARC):
Secretary-General – Md. Golam Sarwar (Bangladesh)
SAARC Chairmanship – Nepal
Secretariat – Kathmandu, Nepal
Established – 1985
>> Read Full News
Indian Navy’s 57th Submarine Day – December 08 2024 
Indian Navy(IN) annually observes the Submarine Day on 8th December to commemorate the induction of (Indian Navy Ship) INS Kalvari, the first submarine of the Indian Navy into service on 8th December 1967.
- 8th December 2024 marks the observance of the 57th Submarine Day.
Note: Submarines are equipped with water tanks called ballast tanks that fill up to submerge the vessel. Emptying the tanks and filling them with air causes the submarine to surface.
Background:
i.Submarine Day is celebrated to honor the historic induction of the INS Kalvari which was commissioned on December 8, 1967.
ii.The day recognizes the contributions of the submarine arm of the IN, which has played a crucial role in enhancing India’s defense capabilities.
iv.Submarines, once primarily used for military purposes such as sinking enemy ships, are now also used for civilian research, marine exploration and underwater tourism.
About INS Kalvari:
i.The Kalvari, a Foxtrot class diesel electric submarine was the first of its kind to join the IN paving the way for the growth of India’s submarine fleet and was retired in 1996 after 29 years of service.
ii.On December 8 1967, INS Kalvari was inducted into the IN at Visakhapatnam, following a journey from St. Petersburg, Russia to India.
- This marked the birth of India’s modern submarine force.
- The Kalvari was named after the tiger shark, a predatory fish found in the Indian Ocean.
ii.The first batch of this submarine consisted of 14 officers and 120 sailors. India started the construction of this submarine in collaboration with Russia on 27 December 1966.
Indian Submarine Fleet:
i.As of April 2024, India operates 18 conventional submarines including Scorpene (French), Howaldtswerke-Deutsche Werft(HDWs)(Germany) and Kilo-class (Russian) vessels.
- Top 3 Countries with the Largest Military Submarine Fleets are Russia(65), United States of America, USA(64) and China(61).
ii.The IN continues to modernize its submarine fleet, with advancements such as the nuclear-powered submarines like the INS Arighaat.
About Indian Navy (IN):
Chief of Naval Staff (CNS)– Admiral Dinesh K Tripathi
Headquarters– New Delhi
Established-1950
*******
Current Affairs Today (AffairsCloud Today)