1) Indian Navy Day : Celebrate The Achievements 04 December
•In India, December 4 is observed as the National Navy Day every year, to celebrate the achievements and role of the naval force to the country. The theme of Indian Navy Day 2021 is ‘Swarnim Vijay Varsh’ signifying 50 years of India’s victory in the Indo-Pakistan war that took place in 1971.
2) International Day of Banks: 04 December
•International Day of Banks is celebrated on December 4 to recognise the importance of multilateral and international development banks in financing sustainable developments. United Nations also observes the day in recognition of the vital role of banking systems in Member State in contributing to the improvement of the standard of living.
3) World Cooperative Monitor report 2021: IFFCO ranks first
•The Indian Farmers Fertiliser Cooperative Limited (IFFCO) has been ranked ‘number one Cooperative’ among the top 300 cooperatives in the world. The ranking is based on the ratio of turnover over the gross domestic product (GDP) per capita. It signifies that IFFCO is contributing significantly to the GDP and economic growth of the nation. The 2021 edition of the 10th Annual World Cooperative Monitor (WCM) report, withholding its position from the 2020 edition.
4) OECD projected India growth forecast to 9.4% for FY22
•Paris-based Organisation for Economic Co-operation and Development (OECD) decreased India’s growth forecast to 9.4% for FY22 from 9.7% estimated in September 2021. It has projected the Indian economy to grow at 8.1% in FY23, and moderate to 5% in FY24. OECD lowered the global growth forecast for 2021 to 5.6% from 5.7% earlier.
•According to OECD, low-skilled domestic migrants and urban workers, who faced the brunt of employment shocks in both waves of the pandemic in India, have yet to see their earnings return to pre-pandemic levels.
5) Pradip Shah appointed as Chairman of National Asset Reconstruction Company
•Pradip Shah, the founder of IndAsia Fund Advisors, has been appointed chairman of the National Asset Reconstruction Company (NARCL). Shah, an MBA from Harvard and chartered accountant, is credited for establishing India’s first and largest housing finance company, HDFC, and rating firm Crisil.
•While Aditya Birla Asset Reconstruction Company managing director Sanjay Jain will be the chief executive of India Debt Resolution Company (IDRCL), the privately-owned asset management company (AMC) mandated to resolve bad loans acquired by NARCL.
6) Ratan Tata to get Assam’s highest civilian award
•On the occasion of Assam Divas, the state government of Assam has decided to accolade renowned industrialist Ratan Tata with the ‘Asom Bhaibav’ award, the highest civilian state award for his contribution to cancer care in the state. The awards that precede it are Asom Saurav, followed by Asom Gaurav. With healthcare as one of its top priorities, the Assam government is showing its appreciation towards Tata’s push to cancer care in the region.
•The Tata Trust, in collaboration with the Assam government, had decided to set up 19 cancer care units during the ‘Advantage Assam – Global Investment Summit’ in 2018 and an MoU had been signed between the Assam government and Tata Trusts. The hospitals were to be set up on a three-tier system and constructed under the divisions L1, L2 and L3, which signified the standard of care that would be provided by them. Ratan Tata had laid the foundation stone for the cancer care units in the state.
7) India will have nine nuclear reactors by 2024
•The nation will have nine nuclear reactors by 2024 and a new nuclear project, the first in northern India, will come up 150 kms away from Delhi in Gorakhpur of Haryana, the government informed the Rajya Sabha. By 2024, India will have nine nuclear reactors plus 12 new additional ones which were approved during the Covid times with a capacity of 9000 MW.
•The minister said that nuclear energy will soon emerge as one of the most important sources of alternative or clean energy for the increasing power demand of the country. India is counting on its nuclear program to help meet its Paris climate commitments to reduce the emissions intensity of its economy by a third from 2005 levels by 2030.
8) Earth Station of Doordarshan Kendra inaugurated in Gorakhpur
•Union Minister of Information and Broadcasting Anurag Singh Thakur and Uttar Pradesh Chief Minister Yogi Adityanath inaugurated Earth Station of Doordarshan Kendra at Gorakhpur. Three FM stations of All India Radio were also inaugurated virtually on the occasion. This will be the second earth station of Doordarshan in Uttar Pradesh and it is being built at a cost of Rs.7 crore.
