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Daily Current Affairs
21st Dec 2024

21st De 2024
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
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21st De 2024
• 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.
21st De 2024
• Signatories: The agreement was signed by Ms. 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
21st De 2024
• 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.
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
• Revised Growth Timeline:
o Earlier forecasts predicted the $350
billion milestone by FY2026, but this has now been extended by five years
due to slower-than-expected growth.
• Challenges in FY2024:
o IT exports grew just 3.3% in constant currency, totaling $199 billion—a
sharp decline from 11.4% growth the previous year.
o Minimal expansion was observed in revenue and employment.
• Emerging Opportunities:
o Generative AI (GenAI) and other transformative technologies are pivotal to
growth.
o 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
21st De 2024
• 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
• Strict Penalties for Violations:
o Jail terms of up to 10 years and monetary
fines of up to ₹1 crore for promoting
unregulated lending activities.
o Raids can be conducted without warrants
against suspected offenders.
• Ban on Illegal Lending:
o Seeks to outlaw all illegal lending activities, whether conducted digitally or
otherwise.
• Designated Authority and Database:
o A dedicated authority will maintain a database of authorized lenders.
o Public access will allow consumers to verify the legitimacy of lenders.
o Regulated lenders failing to provide required information to the authority may
face fines of up to ₹5 lakh.
• Coordination with Law Enforcement:
o 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
21st De 2024
stages of finalizing the draft bill after incorporating stakeholder feedback.

• Key Developments
• New Review Initiated:
o Despite a prior comprehensive review by the same committee chaired by
Jayant Sinha, a renewed examination has been launched.
o This has created overlap and raised concerns of duplicated efforts that may
slow down the legislative process.
• Empowering the CCI:
o The proposed bill seeks to grant the CCI pre-emptive powers to regulate
gatekeeper platforms (e.g., e-commerce, search engines, and social media).
o It includes provisions for algorithmic transparency, data portability, and
non-discrimination to curb monopolistic practices.
• Stakeholder Concerns:
o Industry experts worry that delays could hinder timely action against anti-
competitive practices in digital markets.
o 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:
o Address challenges posed by gatekeeper platforms.
o Strike a balance between fostering innovation and ensuring fair
competition.
o 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
• Objective:
o The move aims to reduce dependency on foreign
imports for components used in solar panel
manufacturing.
o Encourages the growth and utilization of domestic
manufacturing capacities.
• Current Capacity:
o India’s installed manufacturing capacity stands at:
▪ 63 GW for solar modules
▪ 5.8 GW for solar PV cells
21st De 2024
o The capacity for solar PV cells is expected to expand significantly in the

coming year.
• Implementation:
o 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.
o Only PV cells from this list will be eligible for government-backed solar
projects.
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
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
• Feature Launch:
21st De 2024
o Nikhil Kamath, Zerodha’s co-founder,

announced the launch on X (formerly
Twitter), noting that the feature was
introduced due to popular customer
demand.
o Despite the market downturn, Kamath
emphasized that the company will not
actively push the feature to customers.
• Customer Advisory:
o 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.
o He noted the growing popularity of MTF in recent years as a key driver for its
introduction.
• Financial Performance of Zerodha
• Record-Breaking Revenue:
o Zerodha reported ₹9,372 crore ($1.1 billion) in revenue for FY24, a 37.16%
growth from FY23’s ₹6,832 crore.
• Impressive Profit Growth:
o 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
• Commodities Affected:
o Paddy (non-basmati)
o Wheat
o Chana (gram)
o Mustard seed and its derivatives
o Soybean and its derivatives
o Crude palm oil
o Moong (green gram)
• Duration:
o 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.
• Past Context:
21st De 2024
o The initial suspension was imposed in December 2021 to curb rising

commodity prices.
o Over time, SEBI expanded the ban to include additional commodities and has
since issued periodic extensions.
• Market and Industry Reactions
• Edible Oil Complex Focus:
o Market participants speculate that futures trading in crude palm oil and
soybean derivatives may resume soon due to the shorter extension period.
• Academic Insights:
o 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.
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
• Strategic Collaboration:
o The partnership integrates Bata's stylish
and high-quality footwear with Zepto’s
rapid delivery network.
o Designed to strengthen Bata’s omni-channel presence, the collaboration
ensures that customers can shop online, in-store, or opt for rapid doorstep
delivery.
• Customer-Centric Approach:
o Gunjan Shah, CEO of Bata India, emphasized that the partnership reflects
their commitment to transforming and innovating for consumer convenience.
o 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.
21st De 2024
• 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
• Vision and Announcement:
o The Yuga Yugeen Bharat
National Museum (YYBNM) will
celebrate India's unbroken
civilizational history.
o 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.
• France’s Expertise:
o 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.
o France will assist in the feasibility study, covering aspects like museum case
studies, interpretive planning, and building programming.
• Adaptive Reuse:
o 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.
• Historical Significance:
o 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.
• Commitment to Heritage and Sustainability:
o The project emphasizes India’s commitment to sustainable development
and adaptive reuse, blending the country’s rich cultural heritage with modern
design and functionality.
• Strategic Partnership:
o 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.
21st De 2024
• 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.
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.
• Dr. 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.
21st De 2024
• Dr. 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)
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.
• Dr. 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:
o MIDHANI (Mishra Dhatu Nigam), Rohtak
o SMPP Pvt Ltd, Delhi
o 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:
o Aeronav Industrial Safety Appliance, Delhi
o Arnaf Industries Ltd
o Arrow Garments, Tirupur
• Limited Series Production of Extreme Heat Protective Clothing with:
o Arrow Garments, Tirupur
o Aeronav Industrial Safety Appliance, Delhi
o Katalyst TECHTEX Ltd, Delhi
Key Highlights :
21st De 2024
• 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:
o Lightweight body armour
o Advanced aerostat materials
o Smart soldier jackets
o Terahertz technology for spectroscopy
o Firefighter heat protection gear
o 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
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.
21st De 2024
• 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.
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
• Record-Breaking Feat:
o Richa scored an explosive 18-ball fifty, tying the world record with New
Zealand’s Sophie Devine and Australia’s Phoebe Litchfield.
o It also set a new benchmark for the fastest fifty by an Indian women’s
batter in T20Is.
• Spectacular Innings:
o Richa’s blistering knock of 54 runs off 21 balls included:
▪ 3 fours
▪ 5 sixes
o Her innings maintained a stunning strike rate of 257.14 and ended just one
ball before the innings concluded.
• India’s Highest T20I Total:
o Powered by Richa and skipper Smriti Mandhana (77 runs), India posted a
record 217/4, their highest-ever in women’s T20Is.
o This surpassed the previous best of 201/5, achieved earlier this year against
the UAE in the Women’s Asia Cup.
21st De 2024
• India’s Standout Performances

• Smriti Mandhana:
o Registered her third consecutive half-century of the series and her 30th
overall in T20Is.
o Played a pivotal role in setting up a strong foundation for India’s record total.
• Richa Ghosh:
o 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
• Sergio Perez Departure:
o Sergio Perez confirmed he would
be leaving Red Bull with
immediate effect, despite having
two years remaining on his
contract.
o Perez's departure follows a series
of underwhelming performances
and the team's decision to make
a change.
• Lawson's Selection:
o Red Bull narrowed down its shortlist to Liam Lawson and Yuki Tsunoda for
Perez's replacement.
o 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.
• Impressive Performances:
o 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 onwards.
o Lawson's stellar performances during these stints impressed the team and
played a significant role in his selection.
• Future Prospects:
o 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
21st De 2024
• 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.
21st De 2024
• 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.

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Daily Current Affairs

21st Dec 2024

BANKING & FINANCE

• Securities and Exchange Board of

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

Government to Introduce Bill to Curb Illegal Lending Apps

• The Indian government is drafting a

Parliamentary Review May Delay India’s Digital Competition Bill

stages of finalizing the draft bill after incorporating stakeholder feedback.

o The capacity for solar PV cells is expected to expand significantly in the

o Nikhil Kamath, Zerodha’s co-founder,

SEBI Extends Suspension of Agricultural Derivative Contracts Until January 2025

o The initial suspension was imposed in December 2021 to curb rising

MOUS AND AGREEMENT

• This project is part of the Central Vista

• The development of this museum reaffirms India’s commitment to sustainable

APPOINTMENTS & RESIGNATIONS

WTO General Council Approves Dr. Ngozi Okonjo-Iweala's Reappointment as

• Dr. Ngozi Okonjo-Iweala first assumed office as

ACQUISITIONS & MERGERS

• Both parties have agreed to withdraw ongoing

• India’s Standout Performances

Daily CA One- Liner: December 21

• The World Trade Organization (WTO) General Council unanimously agreed to

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