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NATIONAL AFFAIRS

GoI Invests Over Rs 5,000 Crore More in ‘SWAMIH Investment Fund I’ To Help HomebuyersThe “SWAMIH Investment Fund I,” which invests in distressed residential projects and is backed by SBICAP Ventures Limited (SVL), has received approximately Rs 5,000 crore investment from the Government of India (GoI), bringing the fund’s ultimate value to Rs 15,530 crore. This is among the largest capital raised by any fund in India in recent years.

• The “SWAMIH Investment Fund I” was established under the Special Window for Affordable and Mid-Income Housing (SWAMIH).
• This fund intends to infuse capital into stressed projects in order to assist home buyers across India in receiving delivery of their stuck apartments.

When the GoI pledged a capital infusion of up to Rs 5,000 crore three years ago on December 6, 2019, the fund received a commitment of Rs 10,037.5 crore.
‘SWAMIH Investment Fund I’
SWAMIH is a ‘category II’ Alternative Investment Fund (AIF) introduced in September 2019 by Union Finance Minister Nirmala Sitharaman and approved by the Cabinet in November 2019.

• It is India’s largest social impact fund that aims to offer priority debt financing for the completion of stressed, brownfield, and RERA-registered residential projects that fall under the affordable and mid-income housing categories.

Investors & Fund Investments
i.The fund is managed by SVL, and is sponsored by the Secretary, Department of Economic Affairs (DEA), Ministry of Finance (MoF), on behalf of the GoI.

• The State Bank of India (SBI), along with the Life Insurance Corporation of India (LIC), is another anchor investor in the fund.
• Its primary investors include mortgage lender HDFC and various nationalised banks.

ii.As of 2022, the fund is evaluating 286 projects in over 30 Indian cities, with the goal of completing over one lakh homes.

• The new investment will allow the fund to continue evaluating projects until December 2024.

Note: The fund has already built 19,500 homes and plans to build 20,000 homes every year for the next 3 years.
About SBICAP Ventures Limited (SVL)
i.SVL is an Indian alternative asset manager that manages funds with private equity, real estate, and fund-of-funds mandates.

• SVL is a completely owned subsidiary of SBI Capital Markets Limited, which in turn is a wholly owned subsidiary of the State Bank of India (SBI), India’s largest public sector bank (PSB).

ii.It is one of India’s fastest-growing asset managers, managing three alternative investment funds (AIF): Neev Fund I, Neev Fund II, and SWAMIH Investment Fund I, as well as two funds-of-funds: The Self Reliant India Fund (SRI) and the U.K. India Development Co-operation Fund (UKIDCF).
MD & CEO at SBICAP Ventures – Suresh Kozhikote

EAM Dr S Jaishankar addresses the 7th Edition of Global Technology Summit

External Affairs Minister (EAM) Dr S Jaishankar addressed the 7th Edition of the Global Technology Summit, a 3-day summit, in New Delhi, Delhi about the rise of India’s link with the rise of Indian technology.

• It is India’s annual flagship event on Geotechnology, which was jointly hosted by the Ministry of External Affairs and Carnegie India.
• The theme for the 7th Global Technology Summit is Geopolitics of Technology.
• Ministers and senior government officials from the United States (US), Singapore, Japan, Nigeria, Brazil, Bhutan, the European Union, and other countries attended the Summit.

BANKING & FINANCE

Highlights of RBI’s Bi-monthly Monetary Policy of 2022-23; Repo Rate raised to 6.25%i.The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) met on December 5-7, 2022 , and released the Monetary Policy Statement, 2022-23 Resolution of the MPC which declined India’s real Gross Domestic Product (GDP) growth to 6.8% for FY23 from 7% (projected in September 2022) with FY23’s Q3 at 4.4%; and Q4 at 4.2%.
ii.The stance is to focus on withdrawal of accommodation.
iii.Real GDP growth for Q1FY24 is projected at 7.1% and at 5.9% for Q2.
iv.Inflation is projected at 6.7% in FY23, with Q3 at 6.6% and Q4 at 5.9%, and risks evenly balanced.
v.MPC extended the dispensation of enhanced Held to Maturity (HTM) limit of 23% of deposits in respect of statutory liquidity ratio (SLR) securities up to March 31, 2024.
vi.RBI has enhanced the scope of Unified Payments Interface (UPI) by equipping it with single-block-and-multiple-debits functionality. It will be introduced by National Payments Corporation of India (NPCI).
About Reserve Bank of India (RBI):
i.The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.
ii.The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937.
iii.Though originally privately owned, since nationalization in 1949, the Reserve Bank is fully owned by the Government of India.
>> Read Full News

SIDBI & Saudi Arabia’s Monsha’at signs MoU to develop MSMEsA Memorandum of Understanding (MoU) has been signed between the Small Industries Development Bank of India (SIDBI) and Small and Medium Enterprises General Authority of the Kingdom of Saudi Arabia (also known as Monsha’at) to develop Micro, Small and Medium enterprises (MSMEs) and their ecosystem, in both the countries.
Signatories:
It was signed by V Satya Venkata Rao, Deputy Managing Director, SIDBI; and Mazin Bin Ahmed Al-Ghunaim, CEO, SME Bank, during the launch of SME Bank, in Riyadh, Saudi Arabia.
What is in the MoU?
i.It is part of the bilateral initiative to improve diplomatic relations between India and Saudi Arabia.
ii.Under this MoU, both sides will explore and collaborate on matters of common interest.

• Collaboration will also be done between the MSME institutions of the both countries.

iii.SIDBI will also offer its expertise to the newly launched SME Bank of Saudi Arabia.
About Small Industries Development Bank of India (SIDBI):
It is the principal financial institution for the development of MSMEs in India
Chairman & Managing Director– Sivasubramanian Ramann
Headquarter– Lucknow, Uttar Pradesh
Establishment– 1990

IDFC First Bank & NASSCOM COE Partners to Promote Startup EcosystemOn 7th December 2022, the IDFC First Bank and National Association of Software and Service Companies (NASSCOM) Centre of Excellence (CoE) partnered to grow the innovation ecosystem and guide startups through a range of banking solutions.

• IDFC First Bank and NASSCOM COE signed a Memorandum of Understanding (MoU) for appointing the IDFC First bank as a preferred banking partner for startups, at an event held in Bengaluru, Karnataka.

Key highlights:
i.Through the partnership, the Bank will offer its products and solutions for startups, including zero balance startup current account, working capital solutions for pre-profit startups, and also business credit cards.

• It will also offer tailored financial products to support innovation and entrepreneurship.

ii.NASSCOM CoE shall support the partnership with its technology along with domain expertise.
iii.NASSCOM COE and IDFC FIRST Bank will collaborate across a range of initiatives such as Investor Connect, Knowledge Sharing sessions and Tech Conclaves to engage with the Startup community extensively.
About IDFC FIRST Bank:
IDFC FIRST Bank was formed by the merger of erstwhile IDFC Bank and Capital First, a Non Banking financial Company (NBFC) on 18th December 2018.
MD & CEO – V. Vaidyanathan
Headquarters – Mumbai, Maharashtra

ADB: Approves USD 780 million Loan to Expand Chennai’s Metro Rail Network; Approves USD 300 Million Loan to Improve India’s Road and Regional Trade The Asian Development Bank (ADB) approved a loan of USD 780 million to build new lines for Chennai metro rail and improve its network connectivity with bus and feeder services.
Highlights:
ADB will provide an additional USD 1 million technical assistance (TA) grant to help the Chennai Metro Rail with the planning and management of the metro system’s multimodal integration.
ADB Approves USD 300 Million Loan to Improve Road and Regional Trade in India
The Asian Development Bank (ADB) approved a USD 300 million loan to upgrade more than 300 kilometres of state highways and major district roads in Assam, including six road sections in the state’s western, central, and southern regions.
Key highlights:
i.The project will expand state highways and major district roads from single lane to two lanes and introduce new disaster and climate resilient structures.

• It will also establish pedestrian and public transport facilities, elevate highways in flood-prone areas and also include landslide prevention structures in hilly and mountainous areas.

About Asian Development Bank (ADB):
President – Masatsugu Asakawa
Establishment – 1966
Headquarters – Mandaluyong City, Metro Manila, Philippines
Members – 68 members (49 from Asian and the Pacific and 19 outside)
>> Read Full News

NIIF Partners with GAL to Invest Rs. 631 crore in Three AirportsGMR Airports Limited (GAL), a subsidiary of GMR Infrastructure Limited partnered with National Investment and Infrastructure Fund (NIIF) to invest in the equity capital of three airport projects including the Greenfield international airports at Mopa in Goa and Bhogapuram in Andhra Pradesh.Note: GAL has not shared the details about  the total investment by NIIF and the third airport..
Primary Investment by NIIF:
i.NIIF will make a primary investment of Rs. 631 crore (Rs. 6.31 billion) in the form of Compulsory Convertible Debentures (CCD) at the GMR Goa International Airport (GGIAL), a special purpose vehicle (SPV) for operating the new Goa airport.
ii.This is NIIF’s first investment in an airport asset and also its first direct investment in the state of Goa.
About GMR Goa International Airport (GGIAL):
i.Goa’s Mopa International Airport is a Greenfield airport. The airport has already received aerodrome licence and upon commissioning, It will be the first dual-airport system in India alongside the Dabolim airport.

• Mopa International Airport is expected to be inaugurated on 11th December 2022.

ii.In the first phase, the airport shall have a design capacity of handling up to 4.4 million passengers per annum, with an ultimate capacity of up to 40 million passengers per annum.
About GMR Airports Limited (GAL):
i.GAL is a partnership between India’s GMR group and Groupe ADP (majority equity held by the French government).
ii.GAL has developed and operated airports in over nine countries and presently operates five airports including Delhi, Hyderabad and Bidar airports in India, Kualanamu Airport in Medan, Indonesia and Mactan Cebu Airport in Philippines.

• In 2016, was awarded the concession to develop and operate a second airport in Goa on a Design-Build Finance-Operate-and-Transfer (DBFOT) basis.

About GMR Group:
Founder & Chairman – Grandhi Mallikarjuna Rao
MD & CEO- Grandhi Kiran Kumar
Headquarters – Mumbai, Maharashtra

ADB and IIFL Home Finance Ltd organised ‘Kutumb’ Event in Delhi

Asian Development Bank (ADB) and India Infoline Limited- Home Finance Ltd. (IIFL HFL) organised ‘Kutumb‘ event in Delhi discussing scope around green affordable housing in India. The ‘Kutumb’ was launched on 2nd December 2022 with an event titled ‘Green Affordable Housing Ecosystem’ in Delhi.

• Kutumb actively collaborates and consults with developers, architects, and rating agencies to promote green, sustainable, future-ready, and affordable housing.
• The event focuses on mainstreaming green and affordable housing in India.
• In February 2022, IIFL HFL signed a USD 68 million financing agreement with ADB to expand financial access to affordable green housing for India’s economically disadvantaged and lower-income populations.

AWARDS & RECOGNITIONS        

Ukraine President Volodymyr Zelensky Becomes Time Magazine’s 2022 Person of the YearTime Magazine has named Ukrainian president Volodymyr Zelensky and “the spirit of Ukraine” as its 2022 Person of the Year, an award that recognises an event or person deemed as having the most influence on global events over the past 12 months.

• Other finalists for the award included protesters in Iran, China’s leader Xi Jinping Elon Musk (winner of 2021 Person of the year) and the United States (US) Supreme Court.
• Note – The Time Magazine’s Person of the Year began in 1927 as “Man of the Year”.

Key highlights:
i.The ‘spirit of Ukraine’ referred to Ukrainians around the world along with those who fought behind the scenes, including people like Ievgen Klopotenko, a chef who provided thousands of free meals to Ukrainians and medic Yuliia Payevska, who was captured and then released after 3 months in Russian captivity.
ii.Volodymyr Zelensky had inspired Ukrainians and was recognised internationally for his courage in resisting the Russian invasion.
iii.British trauma surgeon David Nott, who went into Ukraine to help those who were injured in the war, is one of several others who feature on the magazine’s cover.
Other awardee:
i.Women in Iran and Roya Piraei, whose mother was killed in protests in iran, speaks out, were recognized as Time’s 2022 Heroes of the year and the Korean-pop(K-Pop) band Blackpink were recognised as Time’s Entertainer of the year 2022.
ii.American baseballer Aaron Judge has been recognised as the Athlete of the Year and Malaysian actress Michelle Yeoh is recognised as the Icon of the Year 2022.
iii.Former NASA administrator Gregory Robinson and The James Webb Telescope was recognised as Innovator of the year 2022.
Note: Other past winners of the Person of the year title include the former dictator of Germany, Adolf Hitler in 1938, and Russian President Vladimir Putin, in 2007..

Forbes’ Annual List of ‘The World’s 100 Most Powerful Women’: Nirmala Sitharaman, Madhabi, Among 6 Indians On the List  According to the 19th annual Forbes list of “The World’s 100 Most Powerful Women,” Finance Minister Nirmala Sitharaman, Biocon Executive Chairperson Kiran Mazumdar-Shaw, and Nykaa creator Falguni Nayar are among six Indians who have made the list.

• The list features 11 billionaires with a combined net worth of USD 115 billion, 10 heads of state, and 39 Chief Executive Officers (CEOs).

The top 3 & 6 Indian women on the list are:

Facts about the Indian women in the list:
i.Union Minister Nirmala Sitaraman, Ministry of Finance, is placed 36th and featured on the list for a record-breaking fourth time in a row. She is India’s first full-time female finance minister.

• She was placed 37th in 2021, 41st in 2020, and 34th in 2019 on the list.

ii.Roshini Nadar Malhotra, Chairperson of HCLTech, an Indian multinational IT services and consulting firm, has been ranked 53rd.
iiiMadhabi Puri Buch, the first female Chairperson of the Securities and Exchange Board of India (SEBI), is ranked 54th on the list.
iv.Soma Mondal, Chairperson of the Steel Authority of India Limited (SAIL), is listed at rank 67.

• She was appointed as the first female chairperson of SAIL in January 2021.

v.Kiran Mazumdar-Shaw, the Founder and Executive Chairperson of Biocon Limited and Biocon Biologics Limited, is listed at rank 77.

• She launched India’s largest listed biopharmaceutical firm by revenue in 1978, making her one among the richest self-made women in India.
• The company operates Asia’s largest insulin factory in Malaysia’s Johor region.

vi.Falguni Sanjay Nayar, the founder and CEO of the beauty and lifestyle retail brand Nykaa, is placed 89th.

• In November 2021, Nayar launched Nykaa, which means “one in the spotlight,” and went on to become the richest self-made female entrepreneur in India.

3 Indian-origin Women Scientists among Australia’s ‘Superstars of STEM’ 2023-2024

The 3 Indian-origin women- Neelima Kadiyala; Dr Ana Baburamani; and Dr Indrani Mukherjee, are among 60 scientists, technologists, engineers, and mathematicians who have been recognised as ‘Superstars of STEM’ by Science & Technology Australia (STA) for 2023-2024.

• These women will undertake a 2-year program (2023-2024) to step into media as STEM(Science, Technology, Engineering, and Mathematics) experts.

The Three Indian-Origin Women: 
Neelima Kadiyala– IT Program Manager at Challenger Limited, Sydney, Australia.

• She has 15 years of experience across multiple industries, including Financial Services, Telco and Fast-moving consumer goods (FMCG).
• She was selected as a GEEQ Australia Ambassador, a non-profit organisation empowering women and promoting gender equality, for her passion for Diversity and Inclusion (D&I) and contribution to building a future technology talent pipeline.

Dr Ana Baburamani– Scientific Advisor in the Department of Defence- Science and Technology Group, Melbourne, Australia.

• She completed her PhD at Monash University and worked as a post-doctoral researcher in Europe for 10 years.

Dr Indrani Mukherjee– Deep-time geologist at the University of Tasmania, Tasmania, Australia.

• She is a postdoctoral researcher in Tasmania, where she is involved in public outreach, geoscience communication, and diversity projects.

About STA’s Superstars of STEM:
i. Superstars of STEM is an initiative of Science & Technology Australia (STA) funded by the Australian Government’s Department of Industry, Science and Resources.
ii. It is an initiative that aims to smash society’s gender assumptions about scientists and increase the public visibility of females and non-binary people.
iii. STA is Australia’s apex body in science and technology and represents more than 105,000 scientists and technologists.

• Annually, STA picks 60 Australian experts working in STEM.

APPOINTMENTS & RESIGNATIONS      

Peru’s VP Dina Boluarte sworn in as the 1st Female President of Peru On 7th December 2022, Vice President of Peru, Dina Ercilia Boluarte Zegarra, was sworn in as the first Female President of Peru after Pedro Castillo, President of Peru, was ousted by Congress and arrested on a charge of rebellion.
Pedro Castillo was ousted by Congress in the Constitutional Crisis:
i. Peru’s Congress removed President Pedro Castillo shortly after he attempted to dissolve the legislative body(Congress) and take unilateral control of the government, triggering a serious constitutional crisis.
ii. The lawmakers of Peru voted 101-6 with 10 abstentions to remove Pedro Castillo from the office of President for reasons of “permanent moral infirmity”.He was removed from office due to “permanent moral infirmity” by a vote of 101-6 with 10 abstentions.
iii. The Presidential period of Pedro Castillo was from 28th  July 2021 to 7th December 2022.
About Dina Boluarte:
i. Dina Boluarte, a 60-year-old lawyer, is 1st Woman President in Peru’s more than 200-year history as an independent republic.
ii. Dina Boluarte, who is bilingual in Spanish and Quechua, was chosen Vice President of the presidential nominee that brought Castillo to power in 2021.
iii. She served as Minister of Development and Social Inclusion from July 2021 to November 2022. She resigned after Betssy Chávez was appointed as Prime Minister, replacing Aníbal Torres.
About the Republic of Peru:
President- Dina Boluarte
Prime Minister- Betssy Chávez
Capital- Lima
Currency- Sol

N Chandrasekaran appointed as Chair of B20 India & CII to be B20 Secretariat

The Government of India has appointed N Chandrasekaran, Chairman of Tata Sons Private Limited, as the Chair of Business 20 (B20) India to lead the business agenda during India’s G20 Presidency.

• The Confederation of Indian Industry (CII) has been appointed as the B20 India Secretariat by the government to lead the B20 India process. CII assumed charge on 1st December 2022.

Key Points:
i. The Business 20 (B20), established in 2010, is the official G-20 dialogue forum with the global business community.

• It is among the most prominent engagement groups in G-20, with companies and business organisations as participants.

ii. It leads the process of organising global business leaders behind global economic and trade governance issues, and it speaks with a single voice on behalf of the whole G-20 business community.
iii. B20 India has identified priorities for deliberations under the theme “R.A.I.S.E – Responsible, Accelerated, Innovative, Sustainable, and Equitable Businesses.”

• B20 India work will be conducted through Task Forces and Action Councils, which will develop consensus-based policy recommendations for the G20.
• Following the inception meeting on 22-24 January 2023, B20 India work will be conducted through taskforces and action councils, culminating in the B20 India Summit in August 2023.

iv. CII will organise over 100 corporate policy initiatives across India under the B20 calendar during the presidency year.
Click here to know more (B20)
About N Chandrasekaran:
i. N Chandrasekaran is the chairman of Tata Sons, the holding company and promoter of more than 100 Tata group companies with annual revenues of over USD 100 billion.
ii. He joined the Board of Tata Sons in October 2016 and was appointed its Chairman in 2017.
iii. From 2009 to 2017, he chaired the Boards of several Tata group companies, including Tata Steel, Tata Motors, Tata Power, and Tata Consultancy Services (TCS), where he served as Chief Executive Officer (CEO).          

SCIENCE & TECHNOLOGY

ISRO & Social Alpha Sign MoU to establish SpIN – SpaceTech Innovation Platform On 6th December 2022, the Indian Space Research Organisation (ISRO) signed a Memorandum of Understanding (MoU) with the Social Alpha, a Non-profit Organization based in Bengaluru, Karnataka, to launch SpaceTech Innovation Network (SpIN), India’s first dedicated platform for innovation curation and venture development for the flourishing space entrepreneurial ecosystem.
ISRO to Develop Spatial Infrastructure Geoportal for Ladakh
The government of Ladakh(Union Territory) and the Indian Institute of Remote Sensing (IIRS), a unit of the Indian Space Research Organisation (ISRO), has partnered to develop a “Spatial Data Infrastructure geoportal – Geo-Ladakh” for Ladakh.

• Ladakh government and IIRS-ISRO signed a Memorandum of Understanding for the above development on 1st January 2022.

About Indian Space Research Organisation (ISRO): 
Chairman – S. Somanath
Headquarters– Bengaluru, Karnataka
Established in– 1969
>> Read Full News

BOOKS & AUTHORS

HarperCollins announced the release of the Autobiography titled ‘Sultan’

HarperCollins India announced the release of the book titled ‘Sultan- A Memoir Wasim Akram with Gideon Haigh’, an autobiography. The book is set to be released on 22nd December 2022. Hardie Grant Books is the publisher of the book.

• ‘Sultan’ tells the story of Wasim Akram, the ‘sultan of swing’, one of the greatest fast bowlers in the history of cricket.
• The book was about the cricketer who was groomed by Imran Khan to become world champion and Man of the Match in Pakistan’s World Cup victory in 1992.

IMPORTANT DAYS

Indian Army Service Corps’s 262nd Corps Day – 8th December 2022Indian Army Service Corps (IASC)’s Corps Day is annually observed on 8th December to commemorate the rich history of the IASC and to pay homage to the Soldiers and Martyrs who served the nation.

• 8th December 2022 marks the observance of IASC’s 262nd Corps Day and 11th Reunion Day.

IASC is the oldest and the largest administrative service in the Indian Army that handles its logistic support function.
Motto of IASC – Seva Asmakam Dharma
Background:
i.The Corps was established as an administrative component of the armies of the East India Company in 1760. 
ii.The corps expanded over time and took part in overseas campaigns during the World War I. The corps was named “Indian Army Service Corps(IASC)” in 1923 and was allowed to use the prefix “Royal” in 1935 and became RIASC.
iii.When India became a republic in 1950, the Corps dropped the prefix “Royal”. On 8th December 1950, the President of India accorded sanction to the Corps to use the National Emblem in the ASC badge and wear the red lanyard on the right shoulder as a recognition of its services.

• For the first time, Corps Day was celebrated on 8th December 1952 and since then 8th December is annually observed as IASC’s Corps Day.

>> Read Full News

SAARC Charter Day 2022 – December 8The South Asian Association for Regional Cooperation (SAARC) Charter Day is annually observed on December 8 to mark the adoption of the SAARC Charter on 8th December 1985 in Dhaka, Bangladesh.

• 8th December 2022 marks the observance of the 38th SAARC Charter Day.

i. SAARC was formally established when the SAARC Charter was adopted on 8th December 1985 by the Heads of State or Governments of Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka during the 1st SAARC Summit held in Dhaka, Bangladesh.
ii. Since 1985, December 8 has been commemorated as the SAARC Charter Day.
About the South Asian Association for Regional Cooperation (SAARC):
Secretary-General- H.E. Esala Ruwan Weerakoon (Sri Lanka)
SAARC Chairmanship- Nepal
Secretariat- Kathmandu, Nepal
>> Read Full News

STATE NEWS

Assam Cabinet Approves Bill to Create Safai Karamchari CommissionThe Assam Cabinet led by Chief Minister (CM) Himanta Biswa Sarma approved a bill to establish a Safai Karamchari Commission for the first time in the state’s history, at a meeting held at the historic Gandhi Mandap in Guwahati, Assam.

• Additionally, it has approved decisions directly involving providing maternity benefits, monitoring drug prices, protecting the rights of Safai Karmacharis, and filling open positions in the Forest Department.

Key Cabinet Decisions Made During the Meeting:  
i.The Dergaon Police Academy was renamed as the ‘Lachit Barphukan Police Academy’ by the Assam Cabinet.
ii.The Assam Cabinet has resolved to transfer Rs. 700 to the bank accounts of all pregnant women in the state, benefiting about 5 lakh pregnant women.
The Nalbari Science Centre and Planetarium, Assam’s first 3D and fourth planetarium, was formally inaugurated by Himanta Biswa Sarma, CM of Assam. It was constructed in Milanpur, Nalbari, at an estimated cost of Rs. 8 crores and 50 lakhs.
About Assam:
Governor – Jagdish Mukhi
Wildlife Sanctuary (WLS) – Sonai Rupai WLS; Bherjan – Borajan – Padumoni WLS
>> Read Full News

CM Pinarayi Vijayan: Kerala to become 100% renewable energy-based State by 2040Chief Minister(CM) of Kerala, Pinarayi Vijayan, inaugurated the India Climate and Development Partners’ Meet hosted by the Kerala Governemnt and the World Bank and stated that the State aspires to become 100% renewable Energy based state by 2040 and and net carbon neutral by 2050.

• He also released the Kerala State Action Plan on Climate Change 2023-2030 (Kerala SAPCC 2.0) during the event.

Key People:
John A. Roome World Bank South Asia regional director (Sustainable Development); Joshua Wycliffe, chief of operations, International Solar Alliance (ISA), and other key officials attended the event online.
About Kerala SAPCC 2.0: 
Kerala SAPCC 2.0 is an inclusive and sustainable plan that focus on the climate change adaptation in key sectors including agriculture, coastal fisheries, water resources, health, forests and biodiversity.

• This is designed to enhance the resilience of vulnerable communities against climate-induced hazard.

Kerala & AFD signed 100 million Euros loan Agreement:
i.During the event, Government of Kerala has also signed agreement with the Agence Française de Développement (AFD – French Development Agency) for a performance based loan of 100 million Euros(Rs 865.8 crore) agreement.
ii.The agreement was signed by Bishwanath Sinha, Chief Executive Officer (CEO) of Rebuild Kerala Initiative (RKI) and Bruno Bosle, AFD Country Director.
iii.This aims to enhance the Kerala’s resilience against impacts of climate change.
Key Points:
i.Kerala is the 1st State in India to include hydrogen-powered mobility in its zero emissions mobility policy.
ii.The government of Kerala constituted the Kerala Hydrogen Economy Mission to contribute strategic inputs and facilitate partnerships and collaborations towards transforming the State into a green hydrogen hub.
iii.The green hydrogen production is expected to be instrumental in Kerla’s efforts to achieve carbon neutrality by 2050.
iv.Kerala is set to come up with new ESG (Environmental, social, and governance)-focused industrial policy which would incentives to promote responsible industrial production.
About Kerala:
Governor– Arif Mohammad Khan
National Park– Pampadum Shola National Park; Mathikettan Shola National Park
Wildlife Sanctuary– Wayanad Wildlife Sanctuary; Idukki Wildlife Sanctuary

Justice Tashi Rabstan appointed as Acting chief justice of J-K High Court

Justice Tashi Rabstan, the senior-most judge, has been appointed Acting Chief Justice of the High Court of Jammu and Kashmir (J&K) and Ladakh by the President of India with effect from 8th December 2022, following the retirement of Justice Ali Mohammad Magreyon 7th December 2022.

• Justice Tashi Rabstan is from Skurbuchan village, Ladakh (or Leh), and became the 1st judge from Ladakh.
• He was enrolled as an advocate in 1990 in the Bar Council of J&K. In 1997, he was appointed as Standing Counsel for the Ladakh Autonomous Hill Development Council, Leh.
• From April 2008 to December 2011, he served as a panel counsel for the Union Public Service Commission in New Delhi, Delhi.

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List of Current Governors in India – AUGUST 2022

List of Current Chief Ministers in India – AUGUST 2022

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