Surge in Bank Fraud Cases Reported for 2024
The financial year 2024 witnessed a significant rise in bank fraud cases, with a total of 36,066 incidents reported—more than doubling the 13,537 cases from 2023. Despite the increase in cases, the financial impact was comparatively lower, amounting to Rs 13,175 crore, the lowest in a decade. The Reserve Bank of India (RBI) highlighted that internet and card frauds were the most prevalent, accounting for 44.7% of the total fraud amount and 85.3% of all cases.
ISRO’s LVM3 Rocket Breakthrough: Multi-Orbit Launch Capability
The Indian Space Research Organisation (ISRO) has recently marked a groundbreaking milestone with its LVM3 rocket, which is now capable of placing satellites in multiple orbits during a single mission. This advanced capability is attributed to the development of a multi-element ignitor for the CE-20 Cryogenic engine, enabling in-space engine restarts. This innovation significantly enhances the rocket’s flexibility, allowing for the efficient deployment of multiple satellites into distinct orbits in a single launch.
Key Highlights from SLINEX 24 Naval Exercise
From December 17 to 20, 2024, the SLINEX 24 naval exercise brought together the Indian and Sri Lankan navies in Visakhapatnam. This annual event, aimed at enhancing cooperation and maritime security in the Indian Ocean, featured two main phases: the Harbour Phase (December 17-18) and the Sea Phase (December 19-20). Key highlights included joint tactical maneuvers, maritime interdiction operations, cross-deck helicopter landings, and gunnery exercises, fostering interoperability and strengthening maritime partnerships.
INS Sarvekshak’s Hydrographic Survey Collaboration in Mauritius
On December 28, 2024, the Indian Navy’s hydrographic survey ship, INS Sarvekshak, docked at Port Louis, Mauritius. This marks a significant collaboration between India and Mauritius in the field of hydrography. The ship’s arrival was warmly welcomed by Indian and Mauritian officials, including High Commissioner Anurag Srivastava and Captain CG Binoop, Commandant of the Mauritius National Coastguard. This joint initiative aims to enhance Mauritius’s maritime infrastructure, resource management, and coastal development planning.
Indian Army Participates in 18th Surya Kiran Joint Military Exercise in Nepal
On December 28, 2024, a contingent of 334 Indian Army personnel departed for Nepal to engage in the 18th Battalion Level Joint Military Exercise, Surya Kiran. This annual exercise, held in Saljhandi, Nepal from December 31, 2024, to January 13, 2025, aims to enhance interoperability in jungle warfare, counter-terrorism operations, and humanitarian assistance and disaster relief under the United Nations Charter.
China Unveils Type 076 Amphibious Assault Ship, Sichuan
On December 28, 2024, China revealed its first Type 076 amphibious assault ship, named Sichuan, at the Hudong-Zhonghua shipyard in Shanghai. This development signifies a significant enhancement in China’s naval capabilities. The Sichuan features a full-load displacement of over 40,000 tons, a twin-island superstructure, and a full-length flight deck. It also integrates cutting-edge electromagnetic catapult and arresting technology, allowing it to deploy both fixed-wing aircraft and helicopters.