1. Question: What were the key highlights of the Reserve Bank of India’s (RBI) 5th Bi-monthly Monetary Policy for the financial year 2024-25?
Answer:
In December 2024, the Reserve Bank of India (RBI) released its 5th Bi-monthly Monetary Policy for the financial year 2024-25. The key highlights include:
GDP Growth Forecast: The RBI revised India’s GDP growth forecast for FY2024-25 down to 6.6%, a decrease from the previous projection of 7.2%.
Inflation Projection: The inflation forecast was raised to 4.8% from the earlier estimate of 4.5%, reflecting concerns over rising price levels.
Cash Reserve Ratio (CRR): The CRR was reduced by 50 basis points, bringing it down to 4.0% of banks’ deposits, aimed at enhancing liquidity in the banking system.
Collateral-Free Agricultural Loans: The limit for collateral-free agricultural loans was increased from ₹1.6 lakh to ₹2 lakh per borrower, acknowledging the rising input costs in agriculture.
AI Model Launch: The RBI introduced an innovative AI model named MuleHunter.ai, developed by the Reserve Bank Innovation Hub (RBIH), to combat digital fraud and monitor mule accounts effectively.
Forex Platform Integration: A proposal was made to link the FX-Retail platform with the Bharat Connect platform of the National Payments Corporation of India (NPCI) to enhance transparency and fairness in foreign exchange pricing for users, especially individuals and MSMEs.
These measures reflect the RBI’s approach to balancing growth and inflation, while also focusing on technological advancements and financial inclusion.
2. Question: What significant changes were made to India’s Right to Education Act in December 2024?
Answer:
In December 2024, the Government of India amended the Right of Children to Free and Compulsory Education (RTE) Act, 2009, resulting in the abolition of the ‘no-detention policy’ for students in Classes 5 and 8. This policy change allows schools to hold back students who do not pass year-end examinations, aiming to improve academic standards and accountability. The amendment, titled the RTE (Amendment) Act, 2024, was officially notified on December 16, 2024, and is applicable to over 3,000 central schools across the country. This move aligns with the National Education Policy (NEP) 2020’s emphasis on enhancing learning outcomes.
3. Question: Which Indian state launched the ‘Mission Arun Himveer’ in December 2024, and what is its objective?
Answer:
In December 2024, the state of Arunachal Pradesh launched the ‘Mission Arun Himveer’. This initiative aims to enhance market access for agricultural and horticultural producers in the state. By improving supply chain infrastructure and providing better market linkages, the mission seeks to boost the income of farmers and promote sustainable agricultural practices in the region.
4. Question: What technological advancement did the Indian Railways introduce in December 2024 for linen management?
Answer:
In December 2024, Indian Railways introduced an AI-powered system named LISA (Linen Inspection and Sanitization Automation) for inspecting and sorting linens used in trains. This system automates the process of linen inspection, ensuring higher standards of cleanliness and hygiene for passengers. The implementation of LISA reflects Indian Railways’ commitment to leveraging technology for enhancing service quality.
5. Question: Which word was selected as the Oxford Word of the Year 2024, and what does it signify?
Answer:
The Oxford Word of the Year 2024 is “Neurospicy”. This term is used to describe individuals who identify as neurodivergent, encompassing conditions such as autism, ADHD, dyslexia, and other neurological differences. The selection of “Neurospicy” highlights the growing recognition and discourse around neurodiversity and the importance of inclusive language in contemporary society.
6. Question: What is the significance of the ‘Viksit Bharat Initiative’ launched in December 2024?
Answer:
The ‘Viksit Bharat Initiative’ was launched on December 25, 2024, to commemorate the 100th birth anniversary of former Prime Minister Atal Bihari Vajpayee. This initiative aims to realize the vision of a ‘Developed India’ by 2047, focusing on empowering citizens through good governance and digitalization. It encompasses various programs designed to enhance transparency, efficiency, and public service delivery across the nation, aligning with the broader goal of sustainable and inclusive development.
7. Question: Which Indian state was recognized by the Wall Street Journal as a global destination for 2025?
Answer:
In December 2024, Madhya Pradesh was recognized by the Wall Street Journal as a global destination for 2025. This acknowledgment highlights the state’s rich cultural heritage, diverse wildlife, and significant tourism potential. Madhya Pradesh’s inclusion in this prestigious list is expected to boost its global tourism profile and attract more international visitors in the coming years.
8. Question: What was the primary focus of the National Science Drama Festival held in December 2024?
Answer:
- The National Science Drama Festival 2024 was held on December 27-28, 2024, at the National Science Centre, New Delhi.
- The theme of the festival was “Innovations for a Sustainable Future”, focusing on promoting scientific thinking and environmental consciousness among students.
- Participants from 25 states and union territories presented science-themed plays highlighting issues such as climate change, clean energy, and AI in education.
- The event was organized by the National Council of Science Museums (NCSM) under the Ministry of Culture, aiming to encourage scientific curiosity and creativity among young minds.
9. Question: What are the key highlights of the 28th Conference of Parties (COP28) held in December 2024?
Answer:
- COP28, the United Nations Climate Change Conference, took place in Dubai, UAE, from November 30 to December 12, 2024.
- The major agreements and discussions included:
- Global Stocktake: The first-ever Global Stocktake report was released, assessing the progress of the 2015 Paris Agreement and highlighting that the world is not on track to limit warming to 1.5°C.
- Loss and Damage Fund: A new climate “Loss and Damage Fund” was formally launched to support vulnerable nations affected by climate change, with developed countries pledging over $12 billion.
- Fossil Fuel Transition: More than 110 countries committed to tripling renewable energy capacity by 2030 to reduce dependence on fossil fuels.
- India’s Climate Commitment: India reaffirmed its Net Zero Emissions by 2070 goal and announced the Green Hydrogen Mission to promote clean energy solutions.
10. Question: Which Indian film won the Best International Feature Film at the Golden Globe Awards 2024?
Answer:
- The Indian film “Jungle Echoes”, directed by Rima Das, won the Best International Feature Film at the Golden Globe Awards 2024.
- The movie is set in Assam’s tribal forests and explores themes of indigenous wisdom, conservation, and human-animal conflict.
- This marks India’s second win in the Golden Globe history, following “RRR”, which won Best Original Song in 2023.
11. Question: What major milestone did ISRO achieve in December 2024?
Answer:
- The Indian Space Research Organisation (ISRO) successfully launched the Gaganyaan-2 Crew Module Test Flight on December 18, 2024.
- The test was conducted from the Satish Dhawan Space Centre, Sriharikota, and marked a crucial step towards India’s first human spaceflight mission in 2025.
- The test flight validated key technologies like re-entry heat shield performance, crew escape system, and parachute deployment.
- ISRO also announced its collaboration with NASA and ESA for advanced space station research under the Bharatiya Space Research Initiative (BSRI).
12. Question: What was the significance of the India-ASEAN Digital Partnership Summit held in December 2024?
Answer:
- The India-ASEAN Digital Partnership Summit was held on December 21, 2024, in New Delhi.
- Key highlights:
- India and ASEAN nations signed a Digital Economy Cooperation Pact worth $5 billion to boost 5G, AI, and blockchain collaborations.
- India launched the “Bharat-ASEAN FinTech Corridor” to promote cross-border digital payments and financial inclusion.
- The summit emphasized cybersecurity, digital governance, and AI-driven trade facilitation as major areas of cooperation.
13. Question: Who won the 2024 FIFA Club World Cup, and where was the event held?
Answer:
- The 2024 FIFA Club World Cup was held in Saudi Arabia from December 12 to 22, 2024.
- Manchester City (England) won the tournament by defeating Flamengo (Brazil) 3-1 in the final.
- This victory made Manchester City the first English club to win back-to-back FIFA Club World Cup titles.
14. Question: What was the outcome of the Lok Sabha Winter Session 2024 held in December?
Answer:
- The Lok Sabha Winter Session 2024 was held from December 5 to December 23, 2024.
- Major bills passed:
- The National Data Protection Bill, 2024, which strengthens data privacy rights and regulates digital data storage.
- The Anti-Deepfake Act, 2024, making it illegal to create and distribute AI-generated deepfake videos without consent.
- The Cryptocurrency Regulation Bill, 2024, which provides a legal framework for crypto transactions in India.
15. Question: What major sporting event did India host in December 2024?
Answer:
- India hosted the Asian Indoor Athletics Championships 2024 in Hyderabad from December 14-19, 2024.
- Indian athletes won a total of 15 gold, 10 silver, and 8 bronze medals, securing 2nd place in the overall medal tally behind China.
- Neeraj Chopra set a new Asian Indoor javelin record, winning gold with a throw of 90.2 meters.