Sevdalinka, a traditional Urban folk song from Bosnia, has been added to UNESCO Cultural Heritage List

• Traditional Bosnian Urban folk ballad Sevdalinka has been included in UNESCO's National Inventory of Intangible Cultural Heritage declared on December 30, 2024.
• The song's gloomy tone has been a staple throughout history, originating from South Slavic regions and the 16th-century Ottoman Empire's music and poetry.
• Sevdalinka, a musical style featuring complex melodies and poignant lyrics about love and longing, is performed with cappella or with traditional instruments like the lute and saz.
• This Bosnian and Herzegovina custom, often performed during family gatherings and public events and preserve cultural values and narratives.
• Damir Imamovic and SevdahLab have revived Sevdalinka through contemporary versions and global awareness.
• Ethno-musicologist Zanin Berbic emphasizes historical and cultural significance of Sevdalinka, while folk musician Enes Salman is dedicated to its preservation.
• Sevdalinka's inclusion on UNESCO's World Heritage list highlights its cultural significance and promotes awareness of Bosnia's rich musical heritage.

Financial Stability Report (FSR) by RBI

• RBI publishes FSR twice a year following approval from the Financial Stability and Development Council (FSDC).
• The RBI declared a report on December 30, 2024, evaluating the stability, resilience, and hazards of the Indian financial industry.
• Structural growth drivers suggest a possible rebound in the second half of fiscal year, while real GDP growth in the first half of 2024-25 slowed to 6%.
• According to report Scheduled Commercial Banks' (SCB) Gross Non-Performing Asset (GNPA) ratio fell to 2.6%, the lowest level in 12 years.
• In November, 2024, retail inflation dropped to 5.5% thanks to lower food costs but the next rabi and kharif harvests could further reduce inflation.
• Banks are expected to maintain a capital adequacy ratio above the 9% regulatory level, with gross bad loans expected to rise to 3% by March, 2026.
• RBI fines on banks decreased by 47% to ₹30 crore, indicating better regulatory compliance, as laws are being followed more closely.

Indian Space Research Organization (ISRO) launched SpaDeX mission

• ISRO's Space Docking Experiment (SpaDeX) launched on December 30, 2024, marking a significant milestone in India's space research efforts.
• Mission aims for space docking, personnel transfers, resupply flights, and space structure building between two spacecraft in orbit.
• Mission will utilize Bhartiya Docking System, an Indigenous technology designed for precise satellite alignment and orbital connection.
• The SpaDeX mission was launched using the Polar Satellite Launch Vehicle (PSLV).
• SpaDeX's success can lead to more advanced missions, including larger spacecraft and human spaceflight.
• Bhartiya Docking System utilizes advanced sensors, navigation algorithms, and automated systems to ensure safe and precise satellite docking.

Defence Ministry signed contracts worth ₹2867 crore to enhance submarine capabilities (Defense)

• Two submarine-related contracts worth approximately ₹2867 crore signed by defense ministry focusing on advanced naval technology on December 30, 2024.
• Mazagon Dock Shipbuilders Limited awarded a contract worth ₹1990 crore to develop an Air Independent Propulsion (AIP) Plug for Indian submarines.
• AIP technology enhances the stealth and endurance of submarines, allowing them to operate underwater for extended periods.
• French Naval Group awarded a contract worth ₹877 crore for integration of Electronic Heavy Weight Torpedoes (EHWT) into Kalvari-class submarines.
• Projects are anticipated to create three lakh man-days of employment, bolstering India's economic progress and independence.
• EHWT will improve firepower of the Kalvari-class submarines and AIP systems extending underwater operational longevity.
• Contracts demonstrate India's dedication to producing military products domestically and advancement in its submarine development program.

Jimmy Carter

• 39th President of the United States from January 1977 to January 1981 and Nobel Laureate Jimmy  Carter passes away at the age of 100 on December 30, 2024.
• During his tenure, he faced challenges such as the Iran hostage situation and a struggling economy.
• Born in Plains, Georgia, Carter raised on a peanut farm and completed the U.S. Naval Academy before entering politics.
• Carter obtained a great deal of political experience as the governor of Georgia prior to being elected president.
• In 1979 he successfully mediated the Camp David Accords, resulting in a peace agreement between Egypt and Israel.
• Carter established the Carter Centre for election observation and human rights and receiving the Nobel Peace Prize in 2002 for his humanitarian work.
• Carter gained respect during his post-presidential years through active involvement in international affairs, book authorship, and promotion of human rights.

Rajasthan has launched the M-Sand 2024 policy

• Rajasthan has revealed the M-Sand 2024 policy to enhance the manufactured sand industry and address the growing demand for sand in construction while promoting sustainability on December 30, 2024.
• Local M-sand output is now around 13 million tonnes, while Rajasthan needs over 70 million tonnes of river sand per year.
• Policy aims to increase M-sand output to 30 million tonnes by 2028-2029 to reduce reliance on natural river sand and promote environmentally friendly building methods.
• M-sand units will be exempt from stamp duty and all electricity duties for the first seven years of operation.
• Government is offering a one-time financial assistance program to small and medium-sized businesses, covering 50% of fundraising expenses up to a maximum of ₹5 lakh.
• State projects will receive at least 25% of M-sand production by 2028-2029, with the percentage increasing to 50%.
• The policy promotes recycling of demolition waste, safeguards river ecosystems, and prioritizes sustainable mining methods and natural sand extraction.
• The opening of M-sand manufacturing facilities is expected to generate local jobs and contribute to Rajasthan's economic growth.

India's first Glass Sea Bridge unveiled in Tamil Nadu

• Chief Minister M.K. Stalin launched India’s first Glass Sea Bridge in Tamil Nadu on December 30, 2024 connecting Vivekananda Rock Memorial at Kanniyakumari with Tiruvalluvar Statue.
• Glass Sea Bridge is 77-meter long, 10 meters wide bridge, built for ₹37 crore, provides dependable access between two locations.
• The unveiling of the glass bridge coincides with the 25th anniversary celebrations of the Tiruvalluvar Statue as a Tamil cultural icon.
• Tiruvalluvar Statue (Statue of Wisdom) inaugurated in 2000, represents 133 chapters of the Tirukkural and the Tamil idea of social justice and equality.
• Vivekananda Rock Memorial, which was built in 1970 is situated 500 meters offshore at confluence of Arabian Sea, Indian Ocean, and Bay of Bengal.
• Vivekananda Memorial's buildings include Dhyana Mandapam (a meditation hall), Shripada Mandapam (a structure that encloses Devi Kanyakumari's footprint).
• Vivekananda Memorial's buildings also include Vivekananda Mandapam (a hall devoted to Swami Vivekananda).