Dear Readers, get to know the daily current affairs today covering all the National & International Events provided here in this article. Current Affairs is an important topic in various competitive exams like IBPS/SBI/PO/Clerk and other competitive exams. To score better in this section, be updated with the daily happenings. Check the Daily Current Affairs February 2024 updates here. Revision is very important in remembering current affairs. Candidates after learning the Daily current affairs Dec 21st 2024, can test their knowledge by attempting Current Affairs Quiz provided with answers. Daily current affairs Dec 21st 2024 covers current affairs from International & National news, Important Days, State News, Banking & Economy, Business News, Appointments & Resignation, Awards & Honour, Books & Authors, Sports News, etc.,

Daily Current Affairs PDF of December 21st 2024

Get More: Static GK Pdfs

CURRENT AFFAIRS : BANKING & FINANCE

Securities and Exchange Board of India extends environmental, social and governance disclosure deadline under Business Responsibility and Sustainability Reporting framework by one year to FY26  

• Markets regulator Securities and Exchange Board of India (SEBI) has decided to defer the ESG (Environmental, Social, and Governance) disclosure deadline for value chain partners of listed companies by one year until FY26, giving more time to them to comply with the Business Responsibility and Sustainability Reporting (BRSR) requirements.
• Until FY26, ESG reporting will remain voluntary, replacing the current "comply-and-explain" approach for companies and their value chain partners.

Key Highlights :

• Approval of Relaxations: SEBI's board approved several relaxations for ESG disclosures, including:
• Deferring ESG disclosures for value chain partners until FY26 (instead of FY25).
• Deferring assessment or assurance of ESG disclosures until FY27 (instead of FY26).
• Value Chain Definition: The value chain includes all activities that add value, from sourcing raw materials to distributing and selling products.
• This includes both upstream (procurement) and downstream (sales) operations.
• Reduced Scope for Value Chain Reporting: SEBI reduced the scope of value chain disclosures to cover the top upstream and downstream partners, individually accounting for 2% or more of the listed entity's purchases and sales by value.
• Reporting Limitation: Entities can limit value chain disclosures to 75% of their total purchases and sales by value.
• Optional Previous Year Data Reporting: Reporting of previous year data for the first year of ESG value chain disclosures will be optional.
• New Leadership Indicator: Under Principle 6 of the Business Responsibility and Sustainability Reporting (BRSR), a new leadership indicator will require companies to disclose green credits generated or procured by the company and its top 10 value chain partners.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)

Securities and Exchange Board of India imposes cap on new fund offer  fundraise based on mutual funds' deployment capacity  

• Securities and Exchange Board of India (SEBI) has mandated mutual funds to specify the amount they plan to raise in a New Fund Offer (NFO) based on their ability to deploy the raised funds within a specified timeframe.
• The objective is to ensure that mutual funds only collect as much money in NFOs as they can reasonably deploy, typically within 30 days, as per the scheme's asset allocation.

Key Highlights :

• Investor Exit Option: If the fund manager is unable to deploy the funds within the specified timeline, investors are allowed to exit the scheme without paying an exit load.
• Addressing Mis-selling: SEBI has introduced measures to combat mis-selling during NFOs.
• In switch transactions, distributors will be entitled to the lower of the two commissions offered under the two schemes involved in the transaction.
• Relaxed Regulations: SEBI has relaxed various regulatory frameworks, including:
• Minimum investment requirements for mutual funds.
• Disclosure frequency and lock-in periods for employees who have resigned.
• Empowerment of the Nomination and Remuneration Committee to ensure compliance.
• Relaxed requirements for employees managing liquid funds.
• Relaxed redemption norms.
• Stress Testing Disclosure: Mutual funds are mandated to disclose the results of stress testing for all schemes to enhance transparency.
• Impact on NFO Market: The new rules are expected to create urgency among investors, similar to equity IPOs, as the cap on NFO fundraising could encourage swift action by investors to avoid missing out.
• Long-Term Success Depends on Fund Management: Despite the excitement generated by limited NFO subscriptions, the long-term success of NFOs will depend on effective fund management and alignment with investor goals.

Government of India and Asian Development Bank sign $42 million loan to enhance coastal protection and strengthen community resilience in Maharashtra   

• The Government of India (GoI) and Asian Development Bank (ADB) signed a $42 million loan for the Maharashtra Sustainable Climate-Resilient Coastal Protection and Management Project.
• The loan aims to provide coastal and riverbank protection to enhance the resilience of local communities and natural ecosystems in Maharashtra.
• Signatories: The agreement was signed by Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance (India), and Ms. Mio Oka, Country Director of ADB’s India Resident Mission.

Key Highlights :

• Project Details: The project focuses on stabilizing Maharashtra's coastline and protecting livelihoods of coastal communities.
• It uses hybrid approaches such as offshore reefs, rock protection works, and nature-based solutions like beach and dune nourishment.
• Technological Solutions: Advanced technologies for predicting climate change impacts, such as sea-level rise and extreme weather, will be utilized.
• The coastal management information system will be enhanced with remote sensing satellite imagery.
• Sector Impact: The project aims to boost resilience in the tourism and fishery sectors, which are severely impacted by coastal erosion, flooding, and poor coastal management.
• Social Inclusion: The project will promote the involvement of women, youth, and vulnerable groups in coastal zone management, increasing their capacity to prepare for and respond to disasters.
• Capacity Building: The project will build the capacity of the Maharashtra Maritime Board in shore management planning and establish a coastal infrastructure management unit.
• It also includes training on gender equality, social inclusion, coastal management, and livelihood activities.

About ADB : 

• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa

Shriram Finance secures $1.27 billion through multi-currency syndicated loan  

• Shriram Finance raised $1.27 billion through a multi-currency syndicated external commercial borrowing (ECB), marking it as the largest ECB loan secured by a domestic private non-banking finance company (NBFC).

Key Highlights :

• Currency Denominations: The loan is structured in multiple currencies:
• $1.15 billion in USD
• 275 million in Dirhams
• 50 million in Euros
• Tenor: The loan has a tenor of up to five years.
• Lender Participation: The loan was arranged by 12 leading banks, including:
• Development institution International Finance Corporation (IFC)
• Banks like DBS Bank, First Abu Dhabi Bank, HSBC, MUFG Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation
• Emirates NBD Bank acted as the mandated lead arranger, underwriter, and book runner, with BNP Paribas, CTBC Bank, and Deutsche Bank contributing as mandated lead arrangers and book runners.
• Loan Structure: The ECB facility is structured as a social loan, aligning with environmental, social, and governance (ESG) goals.
• Past ECB Loans: Shriram Finance had previously secured $468 million and $404 million in 2023 through ECB loans.
• Shriram Finance is India's second-largest NBFC, with assets under management exceeding Rs 2.43 trillion.

CURRENT AFFAIRS: NATIONAL NEWS

India’s Tech Industry Targets $350 Billion by 2030 Amid Slowing Growth

• The Indian tech industry is projected to reach a market size of $350 billion by 2030, growing from $254 billion in FY2023-24, according to Nasscom President Rajesh Nambiar.
• Despite recent headwinds, the sector's anticipated 6.4% CAGR demonstrates long-term resilience.

Key Takeaways

1. Revised Growth Timeline:
   • Earlier forecasts predicted the $350 billion milestone by FY2026, but this has now been extended by five years due to slower-than-expected growth.
2. Challenges in FY2024:
   • IT exports grew just 3.3% in constant currency, totaling $199 billion—a sharp decline from 11.4% growth the previous year.
   • Minimal expansion was observed in revenue and employment.
3. Emerging Opportunities:
   • Generative AI (GenAI) and other transformative technologies are pivotal to growth.
   • Nambiar emphasized transitioning from AI proofs of concept (PoCs) to solutions that deliver measurable ROI.

Leadership Transition at Nasscom

• Rajesh Nambiar took over as Nasscom President, succeeding Debjani Ghosh, who completed her term in November.
• Nambiar previously served as Chairman and MD of Cognizant India.

Growth Drivers

• Increasing adoption of advanced technologies like cloud computing, data analytics, and GenAI.
• Continued innovation to capitalize on global demand for digital transformation solutions.

Government to Introduce Bill to Curb Illegal Lending Apps

• The Indian government is drafting a comprehensive bill to tackle the proliferation of illegal lending apps and unregulated lending activities.
• This legislation proposes strict punitive measures, enhanced regulation, and improved transparency to protect consumers and restore confidence in the financial ecosystem.

Key Highlights of the Draft Bill

1. Strict Penalties for Violations:
   • Jail terms of up to 10 years and monetary fines of up to ₹1 crore for promoting unregulated lending activities.
   • Raids can be conducted without warrants against suspected offenders.
2. Ban on Illegal Lending:
   • Seeks to outlaw all illegal lending activities, whether conducted digitally or otherwise.
3. Designated Authority and Database:
   • A dedicated authority will maintain a database of authorized lenders.
   • Public access will allow consumers to verify the legitimacy of lenders.
   • Regulated lenders failing to provide required information to the authority may face fines of up to ₹5 lakh.
4. Coordination with Law Enforcement:
   • Information from regulated lenders will be shared with law enforcement agencies like the CBI and state police.

Consumer Protection and Regulatory Goals

The proposed legislation builds on efforts by the Reserve Bank of India (RBI), which introduced Digital Lending Guidelines two years ago. It seeks to address key issues, including:

• Lack of transparency: Many consumers are unaware of the real lenders due to the absence of physical interaction in digital transactions.
• Extortionate practices: Illegal apps charge exorbitant interest rates and use coercive recovery methods.

Parliamentary Review May Delay India’s Digital Competition Bill

• The anticipated enactment of the Digital Competition Bill, aimed at regulating India's digital economy, faces potential delays as the Parliamentary Standing Committee on Finance has initiated a fresh examination of the Competition Commission of India’s (CCI) role in digital markets.
• This unexpected move comes while the Ministry of Corporate Affairs (MCA) was in the advanced stages of finalizing the draft bill after incorporating stakeholder feedback.

Key Developments

1. New Review Initiated:
   • Despite a prior comprehensive review by the same committee chaired by Jayant Sinha, a renewed examination has been launched.
   • This has created overlap and raised concerns of duplicated efforts that may slow down the legislative process.
2. Empowering the CCI:
   • The proposed bill seeks to grant the CCI pre-emptive powers to regulate gatekeeper platforms (e.g., e-commerce, search engines, and social media).
   • It includes provisions for algorithmic transparency, data portability, and non-discrimination to curb monopolistic practices.
3. Stakeholder Concerns:
   • Industry experts worry that delays could hinder timely action against anti-competitive practices in digital markets.
   • Some see the review as an opportunity to refine the bill, but others warn of potential disruption to much-needed reforms.

Backdrop and Implications

• Earlier Efforts:
  The MCA had set up a specialized Committee on Digital Competition Law, following recommendations from the earlier parliamentary review. This committee proposed the Digital Competition Bill, aligning it with global frameworks like the EU’s Digital Markets Act (DMA).
• Focus of the Bill:
  • Address challenges posed by gatekeeper platforms.
  • Strike a balance between fostering innovation and ensuring fair competition.
  • Enhance regulatory capabilities through pre-emptive measures.

Centre Sets June 2026 Deadline for Mandatory Use of India-Made Solar Cells

• The Ministry of New and Renewable Energy (MNRE) has announced that from June 2026, solar companies will need to exclusively use India-made solar photovoltaic (PV) cells to participate in government procurement programmes.

Key Highlights

1. Objective:
   • The move aims to reduce dependency on foreign imports for components used in solar panel manufacturing.
   • Encourages the growth and utilization of domestic manufacturing capacities.
2. Current Capacity:
   • India’s installed manufacturing capacity stands at:
     • 63 GW for solar modules
     • 8 GW for solar PV cells
   • The capacity for solar PV cells is expected to expand significantly in the coming year.
3. Implementation:
   • The MNRE plans to issue List-II of approved solar PV cells under the Approved List of Models and Manufacturers (ALMM), effective June 1, 2026.
   • Only PV cells from this list will be eligible for government-backed solar projects.

CURRENT AFFAIRS : INTERNATIONAL NEWS

China and Nepal Initiate Global Dialogue Series  

• Nepal and China governments launched the "Phewa Dialogue" series in a collaborative effort to formulate regional prosperity and peace policies.
• The dialogue is named after the famous Phewa Lake in Pokhara, Nepal, where the two-day event is being held.
• The dialogue was inaugurated by former President Bidya Devi Bhandari of Nepal.
• The event is being hosted by Sichuan University’s China Center for South Asian Studies and Tribhuvan University’s Department of International Relations and Diplomacy.
• The dialogue will focus on issues like South Asia’s global industrial shift and regional needs.
• The K P Sharma Oli government had planned to start the Sagarmatha Dialogue series, inspired by the Raisina Dialogue, which was delayed due to the COVID-19 pandemic.

About China :

• President : Xi Jinping
• Capital : Beijing
• Currency : Renminbi

About Nepal :

• President : Ram Chandra Poudel
• Prime Minister : Ram Chandra Poudel
• Capital : Kathmandu
• Currency : Nepalese rupee

CURRENT AFFAIRS: BUSINESS NEWS

Zerodha Launches Margin Trading Facility Amid Market Volatility

• Leading Indian broking firm Zerodha has introduced a margin trading facility (MTF), allowing users to borrow money to buy stocks for delivery.

Key Highlights

1. Feature Launch:
   • Nikhil Kamath, Zerodha’s co-founder, announced the launch on X (formerly Twitter), noting that the feature was introduced due to popular customer demand.
   • Despite the market downturn, Kamath emphasized that the company will not actively push the feature to customers.
2. Customer Advisory:
   • Kamath expressed hesitations about MTF, citing potential risks:
     • Cost of Borrowing: Customers often underestimate its impact.
     • Market Risks: Adverse market movements can lead to substantial losses.
   • He noted the growing popularity of MTF in recent years as a key driver for its introduction.

Financial Performance of Zerodha

1. Record-Breaking Revenue:
   • Zerodha reported ₹9,372 crore ($1.1 billion) in revenue for FY24, a 37.16% growth from FY23’s ₹6,832 crore.
2. Impressive Profit Growth:
   • Net profit surged by 89%, reaching ₹5,496 crore, compared to ₹2,908 crore in the previous fiscal year.

SEBI Extends Suspension of Agricultural Derivative Contracts Until January 2025

• The Securities and Exchange Board of India (SEBI) has suspended trading in derivative contracts for seven agricultural commodities until January 31, 2025.

Key Details of the Suspension

1. Commodities Affected:
   • Paddy (non-basmati)
   • Wheat
   • Chana (gram)
   • Mustard seed and its derivatives
   • Soybean and its derivatives
   • Crude palm oil
   • Moong (green gram)
2. Duration:
   • The current suspension, which was set to expire on December 20, 2024, has been extended by just over a month, raising hopes of a potential resumption for some commodities.
3. Past Context:
   • The initial suspension was imposed in December 2021 to curb rising commodity prices.
   • Over time, SEBI expanded the ban to include additional commodities and has since issued periodic extensions.

Market and Industry Reactions

1. Edible Oil Complex Focus:
   • Market participants speculate that futures trading in crude palm oil and soybean derivatives may resume soon due to the shorter extension period.
2. Academic Insights:
   • Recent studies from BIMTECH, IIT-Kharagpur, and IIT-Bombay found:
     • No reduction in retail prices of the suspended commodities post-ban.
     • Increased volatility in the market for several commodities, highlighting that futures trading does not directly influence retail price trends.
     • Domestic and global supply-demand dynamics primarily dictate retail prices.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Bata India Partners with Zepto for Quick Footwear Deliveries

• Footwear giant Bata India has entered the fast-growing quick commerce market by teaming up with Zepto, offering swift deliveries across Delhi NCR.
• The initiative aims to cater to the increasing demand for fast and convenient shopping experiences, with plans to expand services to other major metropolitan cities.

Key Highlights

1. Strategic Collaboration:
   • The partnership integrates Bata's stylish and high-quality footwear with Zepto’s rapid delivery network.
   • Designed to strengthen Bata’s omni-channel presence, the collaboration ensures that customers can shop online, in-store, or opt for rapid doorstep delivery.
2. Customer-Centric Approach:
   • Gunjan Shah, CEO of Bata India, emphasized that the partnership reflects their commitment to transforming and innovating for consumer convenience.
   • The service caters to last-minute footwear needs, particularly during high-demand periods such as the winter wedding season.

India and France Partner to Develop the Yuga Yugeen Bharat National Museum

• The Ministry of Culture has announced a landmark partnership with France Museums Développement (FMD) to develop the Yuga Yugeen Bharat National Museum as a world-class cultural institution.
• This project is part of the Central Vista Redevelopment Project and will cover 1,55,000 square meters across the iconic North and South Blocks in New Delhi.

Key Highlights

1. Vision and Announcement:
   • The Yuga Yugeen Bharat National Museum (YYBNM) will celebrate India's unbroken civilizational history.
   • The project was first announced by Prime Minister Narendra Modi at the International Museum Expo in May 2023 and reiterated during the Bharat Mandapam inauguration in July 2023.
2. France’s Expertise:
   • This collaboration builds on the cultural cooperation between India and France, with France’s museum development expertise playing a key role. France’s successful transformations, such as the Louvre and Grand Palais, serve as models for this project.
   • France will assist in the feasibility study, covering aspects like museum case studies, interpretive planning, and building programming.
3. Adaptive Reuse:
   • The museum will be developed through adaptive reuse of the historic North and South Blocks in New Delhi. This approach will preserve the architectural heritage of these buildings while reimagining them for cultural purposes, similar to France’s "Grands Projets" initiative.
4. Historical Significance:
   • The adaptive reuse method mirrors past successful projects like the transformation of government buildings into cultural spaces in France, with the Louvre being a prime example.
5. Commitment to Heritage and Sustainability:
   • The project emphasizes India’s commitment to sustainable development and adaptive reuse, blending the country’s rich cultural heritage with modern design and functionality.
6. Strategic Partnership:
   • The partnership is built on the Letter of Intent signed in 2020, which emphasized collaboration on museum and heritage projects. The 2023 visit of the Prime Minister to Paris further solidified this collaboration, leading to more specific technical agreements for the museum.

Impact and Future Prospects

• The Yuga Yugeen Bharat National Museum will be a global cultural landmark, showcasing India’s heritage while embracing contemporary narratives and international museum standards.
• The development of this museum reaffirms India’s commitment to sustainable practices, ensuring that the historical value of the North and South Blocks is preserved while creating a modern space for cultural engagement.
• This project strengthens the India-France cultural relationship and sets a benchmark for international heritage preservation partnerships.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Hyundai extends Unsoo Kim's tenure as Managing Director for another 3 years from January 2025   

• Unsoo Kim has been reappointed as the Managing Director (MD) of Hyundai Motor India for a term of three years, starting from January 25, 2025.
• The reappointment was approved by the company’s board and recommended in a regulatory filing.
• Pradeep Chugh has been appointed as the company secretary of Hyundai Motor India, effective immediately.
• He replaced Divya Venkat, who resigned from the position.

About Unsoo Kim :

• Unsoo Kim joined Hyundai Motor Company, South Korea, in 1991.
• He has been associated with Hyundai Motor India Ltd since 2022.
• Prior to his current role, Kim served as the Executive Vice President of Global Operations at Hyundai Motor Company.

About Hyundai Motor India :

• Founded : 6 May 1996
• Headquarters : Gurgaon, Haryana, India
• HMIL is the Indian subsidiary of the South Korean automobile manufacturer Hyundai Motor Company.
• It is the second largest car manufacturer in India.
• Maruti Suzuki is India's largest car manufacturer.

WTO General Council Approves Dr. Ngozi Okonjo-Iweala's Reappointment as Director-General for Second Term Starting September 2025    

• The World Trade Organization (WTO) General Council unanimously agreed to reappoint Dr. Ngozi Okonjo-Iweala as the Director-General for a second four-year term, starting from September 1, 2025.
• Ngozi Okonjo-Iweala is former Minister of Finance for the Federal Republic of Nigeria.
• Ngozi Okonjo-Iweala is the 7th Director-General of the WTO.
• Ngozi Okonjo-Iweala first assumed office as Director-General on 1 March 2021, becoming the first woman and first African to lead the WTO.
• Her first term concludes on 31 August 2025.

About WTO :

• Founded : 1 January 1995
• Headquarters : Geneva, Switzerland
• Membership : 166 members (162 UN member states, the European Union, Hong Kong, Macao, and Taiwan)

CURRENT AFFAIRS : DEFENCE NEWS

Defence Research and Development Organisation, IIT Delhi, and Industry Sign 10 Tripartite Agreements at DRDO-Industry-Academia Centre of Excellence Event   

• The event titled ‘DRDO-Industry-Academia - Global Approach to Readiness of Indigenous Military Applications’ (DIA-GARIMA) was organized by DRDO-Industry-Academia Centre of Excellence (DIA-CoE) at IIT Delhi on December 19, 2024.
• Samir V. Kamat, Secretary, Department of Defence R&D, and Chairman of DRDO, along with Prof. Rangan Banerjee, Director of IIT Delhi, and industry representatives, were present.
• Tripartite Agreements Signed:10 agreements were signed between DRDO, IIT Delhi, and industry partners during the event.
• Technology Transfer:Transfer of Technology for Light Weight Bullet Resistant Jacket (ABHED) to the following companies:
  • MIDHANI (Mishra Dhatu Nigam), Rohtak
  • SMPP Pvt Ltd, Delhi
  • AR Polymers (MKU), Kanpur
• Memorandum of Agreement (MoA):Development of Indigenous Ballistic Material with Reliance Industries Limited.
• Limited Series Production of Extreme Cold Weather Clothing with:
  • Aeronav Industrial Safety Appliance, Delhi
  • Arnaf Industries Ltd
  • Arrow Garments, Tirupur
• Limited Series Production of Extreme Heat Protective Clothing with:
  • Arrow Garments, Tirupur
  • Aeronav Industrial Safety Appliance, Delhi
  • Katalyst TECHTEX Ltd, Delhi

Key Highlights :

• Long Term Directed Research Policy:DRDO introduced the Long Term Directed Research Policy under the Ministry of Defence to integrate academia and industry into defence R&D.
• The policy focuses on directed research to develop futuristic defence technologies aligned with the ‘Aatmanirbhar Bharat’ initiative.
• DIA-CoEs:DIA-CoEs (Defence Industry-Academia Centres of Excellence) leverage the expertise of academia, DRDO laboratories, and Indian industries to meet national security needs.
• These centres are facilitated by the Directorate of Futuristic Technology Management (DFTM) under the Technology Management cluster of DRDO.
• Joint Advanced Technology Centre (JATC):Established in 2017 at IIT Delhi, the JATC was converted into DIA-CoE for collaboration between Indian industry and academia to translate knowledge into high technology readiness.
• Research Projects and Funding:Over 50 research projects have been initiated under five technology verticals with a total funding of Rs 375 crore from DRDO.
• The projects focus on soldier-centric innovations, such as:
  • Lightweight body armour
  • Advanced aerostat materials
  • Smart soldier jackets
  • Terahertz technology for spectroscopy
  • Firefighter heat protection gear
  • Extreme cold-weather jackets
• Technology Readiness and Civil Applications:Each project is aimed at ensuring high technology readiness levels for DRDO's advanced systems, with potential civil applications as well.
• Engagement of Academia and Industry:The DIA-CoE, IIT Delhi has engaged 100 faculty members and 200 research scholars in its research projects, contributing to self-reliance in defence technology.
• The aim is to improve the capability and capacity of India's defence R&D sector.
• Standard Operating Procedures (SOPs):The DFTM, DRDO developed Standard Operating Procedures (SOPs) for engaging industry through academia to ensure active industry participation in the research process at DIA-CoEs.
• The SOPs focus on activating the ‘I’ part of DIA-CoE, emphasizing industry involvement.

About DRDO :

• Formed : 1958
• Headquarters : New Delhi, India
• Chairman : Sameer V. Kamat

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Genesis Aircraft Lessor to Acquire SpiceJet's Stake to Resolve $16 Million Dispute  

• Genesis Aircraft Lessor will acquire a stake worth $4 million in SpiceJet as part of a settlement for a $16 million dispute.
• SpiceJet will pay $6 million to Genesis for the settlement.
• Both parties have agreed to withdraw ongoing litigations and disputes related to this matter.
• Genesis will acquire $4 million worth of SpiceJet equity at Rs 100 per share.
• SpiceJet's Financial Moves:SpiceJet recently raised Rs 3,000 crore to address financial challenges.
• The airline has been working on settling various disputes with lessors and other entities.
• Other Settlements:In September, Carlyle Aviation agreed to convert $30 million of lease arrears into SpiceJet equity at Rs 100 per share.
• SpiceJet has also settled disputes with other lessors such as Horizon Aviation, Engine Lease Finance Corporation, Aircastle, Wilmington Trust SP, Shannon Engine Support Ltd, and Export Development Canada.

CURRENT AFFAIRS: SPORTS NEWS

Richa Ghosh Smashes Fastest Fifty in Women’s T20I History

• Indian wicketkeeper-batter Richa Ghosh achieved a remarkable milestone on Thursday, equaling the record for the fastest half-century in women’s T20I history during the series decider against the West Indies at the DY Patil Sports Academy.

Key Highlights

1. Record-Breaking Feat:
   • Richa scored an explosive 18-ball fifty, tying the world record with New Zealand’s Sophie Devine and Australia’s Phoebe Litchfield.
   • It also set a new benchmark for the fastest fifty by an Indian women’s batter in T20Is.
2. Spectacular Innings:
   • Richa’s blistering knock of 54 runs off 21 balls included:
     • 3 fours
     • 5 sixes
   • Her innings maintained a stunning strike rate of 257.14 and ended just one ball before the innings concluded.
3. India’s Highest T20I Total:
   • Powered by Richa and skipper Smriti Mandhana (77 runs), India posted a record 217/4, their highest-ever in women’s T20Is.
   • This surpassed the previous best of 201/5, achieved earlier this year against the UAE in the Women’s Asia Cup.

India’s Standout Performances

• Smriti Mandhana:
  • Registered her third consecutive half-century of the series and her 30th overall in T20Is.
  • Played a pivotal role in setting up a strong foundation for India’s record total.
• Richa Ghosh:
  • Cemented her reputation as one of the most explosive hitters in women’s cricket with her record-equalling performance.

Liam Lawson Replaces Sergio Perez at Red Bull for 2025 Season

• Red Bull has announced that Liam Lawson will replace Sergio Perez as the team’s second driver alongside four-time World Champion Max Verstappen in the 2025 Formula 1 season.

Key Highlights

1. Sergio Perez Departure:
   • Sergio Perez confirmed he would be leaving Red Bull with immediate effect, despite having two years remaining on his contract.
   • Perez's departure follows a series of underwhelming performances and the team's decision to make a change.
2. Lawson's Selection:
   • Red Bull narrowed down its shortlist to Liam Lawson and Yuki Tsunoda for Perez's replacement.
   • The decision to promote Lawson, the New Zealand driver, was based on his impressive performances in 2023 and 2024 as a super-sub for the team.
3. Impressive Performances:
   • Lawson filled in for Daniel Ricciardo in 2023, racing for five races, and continued to substitute Ricciardo in the 2024 season from the United States Grand Prix
   • Lawson's stellar performances during these stints impressed the team and played a significant role in his selection.
4. Future Prospects:
   • Lawson is looking forward to the challenge, saying he has no doubt he will gain invaluable experience by racing alongside Verstappen, one of the greatest in Formula 1.

Daily CA One- Liner: December 21

• The Indian tech industry is projected to reach a market size of $350 billion by 2030, growing from $254 billion in FY2023-24, according to Nasscom President Rajesh Nambiar.
• The Indian government is drafting a comprehensive bill to tackle the proliferation of illegal lending apps and unregulated lending activities
• The anticipated enactment of the Digital Competition Bill, aimed at regulating India's digital economy, faces potential delays as the Parliamentary Standing Committee on Finance has initiated a fresh examination of the Competition Commission of India’s (CCI) role in digital markets
• The Ministry of New and Renewable Energy (MNRE) has announced that from June 2026, solar companies will need to exclusively use India-made solar photovoltaic (PV) cells to participate in government procurement programmes.
• Leading Indian broking firm Zerodha has introduced a margin trading facility (MTF), allowing users to borrow money to buy stocks for delivery.
• The Securities and Exchange Board of India (SEBI) has suspended trading in derivative contracts for seven agricultural commodities until January 31, 2025
• Footwear giant Bata India has entered the fast-growing quick commerce market by teaming up with Zepto, offering swift deliveries across Delhi NCR.
• The Ministry of Culture has announced a landmark partnership with France Museums Développement (FMD) to develop the Yuga Yugeen Bharat National Museum as a world-class cultural institution.
• Indian wicketkeeper-batter Richa Ghosh achieved a remarkable milestone on Thursday, equaling the record for the fastest half-century in women’s T20I history during the series decider against the West Indies at the DY Patil Sports Academy.
• Red Bull has announced that Liam Lawson will replace Sergio Perez as the team’s second driver alongside four-time World Champion Max Verstappen in the 2025 Formula 1 season.
• Markets regulator Securities and Exchange Board of India (SEBI) has decided to defer the ESG (Environmental, Social, and Governance) disclosure deadline for value chain partners of listed companies by one year until FY26, giving more time to them to comply with the Business Responsibility and Sustainability Reporting (BRSR) requirements.
• Securities and Exchange Board of India (SEBI) has mandated mutual funds to specify the amount they plan to raise in a New Fund Offer (NFO) based on their ability to deploy the raised funds within a specified timeframe.
• The Government of India (GoI) and Asian Development Bank (ADB) signed a $42 million loan for the Maharashtra Sustainable Climate-Resilient Coastal Protection and Management Project.
• Shriram Finance raised $1.27 billion through a multi-currency syndicated external commercial borrowing (ECB), marking it as the largest ECB loan secured by a domestic private non-banking finance company (NBFC).
• Nepal and China governments launched the "Phewa Dialogue" series in a collaborative effort to formulate regional prosperity and peace policies.
• Unsoo Kim has been reappointed as the Managing Director (MD) of Hyundai Motor India for a term of three years, starting from January 25, 2025.
• The World Trade Organization (WTO) General Council unanimously agreed to reappoint Dr. Ngozi Okonjo-Iweala as the Director-General for a second four-year term, starting from September 1, 2025.
• The event titled ‘DRDO-Industry-Academia - Global Approach to Readiness of Indigenous Military Applications’ (DIA-GARIMA) was organized by DRDO-Industry-Academia Centre of Excellence (DIA-CoE) at IIT Delhi on December 19, 2024.
• Genesis Aircraft Lessor will acquire a stake worth $4 million in SpiceJet as part of a settlement for a $16 million dispute.