Tag: current affairs

National news

India May to Welcome Indonesia’s President on Republic Day 2025

New Delhi is reportedly considering Prabowo Subianto, the newly elected President of Indonesia, as the chief guest for India’s Republic Day 2025 celebrations. This potential invitation underscores the strengthening ties between India and Indonesia, highlighting shared strategic interests and a commitment to fostering deeper diplomatic and defense cooperation.

Significance of the Potential Invitation

• Chief Guest Selection:
  • If confirmed, Prabowo Subianto’s presence would symbolize the growing Comprehensive Strategic Partnership between the two nations.
  • His selection aligns with India’s emphasis on prioritizing Indo-Pacific partnerships.
• High-Level Engagements:
  • Discussions are expected at the G-20 summit in Brazil, where Prime Minister Narendra Modi and President Subianto are scheduled to meet.
  • The Republic Day invitation builds on Minister of State for External Affairs Pabitra Margherita’s visit to Jakarta for Subianto’s inauguration.

India-Indonesia: A Growing Partnership

• Defense Cooperation:
  • Recent joint military exercises like GARUD SHAKTI and collaborative naval operations demonstrate robust defense ties.
• Economic & Cultural Links:
  • India is among Indonesia’s major trading partners, with strong cultural and historical connections dating back to ancient times.

about Indonesia

• Capital: Jakarta
• President: Prabowo Subianto
• Currency: Rupiah (IDR)

India Commits to 30% Protected Areas in Updated Biodiversity Plan

India has unveiled its updated National Biodiversity Strategy and Action Plan (NBSAP) during the 16th UN Biodiversity Conference in Cali, Colombia, committing to protect at least 30% of its terrestrial, inland water, and coastal marine areas by 2030. This ambitious target aligns with the Kunming-Montreal Global Biodiversity Framework (KM-GBF), adopted at the previous conference in 2022, which aims for global protection of 30% of land and ocean areas while restoring degraded ecosystems crucial for providing clean water and air.

Commitment to 30×30 Target: India aims to protect 30% of its terrestrial, inland water, and coastal marine areas by 2030, in line with the Kunming-Montreal Global Biodiversity Framework (KM-GBF).

Global Context:

• The NBSAP aligns with the 23 global goals adopted under the KM-GBF in 2022.
• India, home to 7-8% of the world’s species on just 2.4% of global land area, highlights its responsibility as a biodiversity hotspot.

Financial Investments:

• ₹32,200 crore spent on biodiversity protection and restoration (2017-18 to 2021-22).
• Projected annual biodiversity conservation expenditure through 2029-30: ₹81,664.88 crore.

Three Key Themes:

a. Reducing Threats to Biodiversity:

• Targets include combating land use changes, pollution, climate change, and invasive species.
• Focus on restoring ecosystems and managing species diversity.

b. Sustainable Use for People’s Needs:

• Five targets highlight sustainable management of agriculture, fisheries, and forests.
• Emphasis on benefits for rural and tribal communities.

c. Tools and Solutions for Implementation:

• Ten targets focus on integrating biodiversity into development goals and promoting sustainable production.
• Encourages community involvement and public engagement.

Restoration and Community Involvement:

• Aims to restore 30% of degraded ecosystems by 2030.
• Launch of Mission Life, promoting eco-friendly lifestyles to tackle overconsumption and waste generation.

Celebrating 50 Years Coal India’s Foundation Day

Coal India Limited (CIL) celebrated its 50th Foundation Day on 1st November, marking a significant milestone as it entered its golden jubilee year. The day began with a respectful tribute at the Coal Martyrs’ Memorial, where CIL’s Chairman PM Prasad, along with Functional Directors and the Chief Vigilance Officer, honored the contributions and sacrifices of coal industry workers throughout the decades.

Key Moments of the Day

1. Tribute at Coal Martyrs’ Memorial

1. Led by: CIL Chairman PM Prasad, Functional Directors, and the Chief Vigilance Officer.
2. Purpose: Honoring coal industry workers for their sacrifices and contributions.
3. Flag Unfurling
4. The Coal India flag was unfurled by the Chairman, symbolizing the company’s legacy and commitment.
5. Acknowledgment of Employees
6. PM Prasad expressed gratitude to past and present employees, highlighting their efforts as the foundation of CIL’s success.

Chairman’s Key Statements

• Coal’s Importance:
  • Coal will remain a key energy resource for India for at least the next 20 years.
  • CIL’s role is critical in ensuring the country’s energy security.
• Future Focus:
  • Commitment to stable and reliable coal supply to meet India’s growing energy needs.
• Workforce Dedication:
  • Praised the resilience and dedication of the workforce in driving India’s energy aspirations.

Coal India Limited (CIL): Quick Facts

Launch of International Incoming Spoofed Calls Prevention System

On 22nd October 2024, Union Minister Jyotiraditya Madhavrao Scindia inaugurated the “International Incoming Spoofed Calls Prevention System” at BSNL Bhawan, New Delhi. This initiative is a significant step by the Department of Telecommunications (DoT) to combat fraudulent calls and ensure a safer digital environment for Indian telecom users.

Key Highlights of the System

1. Objective:
2. To detect and block fraudulent international calls falsely appearing with an Indian (+91) prefix.
3. Operational Milestones:

2. The system went live on 17th October 2024.
3. Within the first 24 hours, it successfully identified and blocked 1.35 crore spoofed calls, accounting for 90% of such incoming calls.
4. Collaboration:
5. Developed by DoT under the Ministry of Communications (MoC) in partnership with Telecom Service Providers (TSPs).
6. Impact:

4. Protects citizens from cybercrimes involving spoofed calls.
5. Enhances trust in India’s digital and telecom infrastructure.

Event Details

• Key Dignitaries:
  • Union Minister Jyotiraditya M. Scindia (Constituency: Guna, Madhya Pradesh)
  • Union Minister of State (MoS) Dr. Chandra Sekhar Pemmasani (Constituency: Guntur, Andhra Pradesh)
  • Dr. Neeraj Mittal, Secretary, Department of Telecommunications
  • Other senior officials of DoT and telecom stakeholders

International news

ILO’s 352nd Governing Body Meeting Kicks Off in Geneva

The 352nd Governing Body meeting of the International Labour Organisation (ILO) is currently taking place in Geneva. This important gathering began on October 28 and will run until November 7, bringing together representatives from member countries to discuss key labor issues and strategies for improving working conditions globally.

India’s Key Contributions Highlighted at the Meeting

1. Multidimensional Poverty Reduction

1. Achievement: India lifted 248 million people out of multidimensional poverty over the past nine years, reflecting a holistic approach to poverty alleviation.
2. Source: Multidimensional Poverty Index (MPI).
3. Employment Growth

2. Addition to Workforce: Approximately 170 million individuals joined economic activities between 2016-17 and 2022-23 (provisional estimates).
3. Significance: Indicative of rising employment opportunities and increased economic participation.
4. Major Government Initiatives

3. PM Jan Dhan Yojana: Promotes financial inclusion by providing banking access to previously unbanked populations.
4. PM Jeevan Jyoti Yojana: Offers affordable life insurance for vulnerable groups.
5. PM Suraksha Bima Yojana: Ensures affordable accident insurance.
6. Transformation in Financial Inclusion
7. Dawra highlighted India’s decade-long focus on providing universal access to financial services, particularly for vulnerable populations, marking a significant shift in inclusion efforts.

About the International Labour Organisation (ILO)

The ILO remains dedicated to improving working conditions, enhancing living standards, and promoting global labor rights.

ADB Approves USD 241.3 Million Loan for Power Distribution in West Bengal

The Asian Development Bank (ADB) has sanctioned a USD 241.3 million loan to bolster the power distribution infrastructure in West Bengal. This initiative aims to ensure a reliable, quality, and sustainable power supply, thereby enhancing the quality of life for residents.

Key Highlights

1. Programme Objectives:

1. Strengthen the power distribution system in alignment with West Bengal’s Revamped Distribution Sector Scheme (RDSS).
2. Improve the operational efficiency of power distribution companies (DISCOMs).
3. RDSS Program Details:

2. Approved in 2022 by the Government of India (GOI) and the Government of West Bengal.
3. Budget Outlay: USD 197.39 million.
4. Implementation Period: 2022–2026.
5. RDSS Program Goals by 2026:

3. Eliminate the ACS-ARR gap (on subsidy receipt basis).
4. Reduce System Average Interruption Frequency Index (SAIFI) to 130 interruptions per customer.
5. Lower Aggregate Technical & Commercial (AT&C) loss to 12.11%.

About Asian Development Bank (ADB)

About West Bengal

Banking news

SBI Mutual Fund Surpasses ₹10 Lakh Crore AUM, Leading the Industry

SBI Mutual Fund (SBI MF) has made headlines by becoming the first fund house in India to surpass the ₹10 lakh crore mark in assets under management (AUM), reaching ₹10.99 lakh crore in the September quarter, a notable increase from ₹9.88 lakh crore in June. This achievement places SBI MF ahead of its closest competitors, ICICI Mutual Fund and HDFC Mutual Fund, which have AUMs of ₹8.41 lakh crore and ₹7.47 lakh crore, respectively.

Growth Drivers

1. Strong Inflows:
   • Boosted by New Fund Offers (NFOs), raising ₹44,955 crore in the September quarter, a 67% increase.
2. Market Rally:
   • Benchmark indices like the Sensex witnessed significant growth, enhancing investor sentiment.

Industry Trends

• Total Mutual Fund Industry AUM grew by 12%, reaching ₹66.22 lakh crore from ₹58.96 lakh crore in June.
• Dominated by 16 major fund houses, accounting for 90% of AUM.
• Rising participation through Systematic Investment Plans (SIPs), especially in smaller cities.

Challenges: Recent stock market downturns could test new investors unfamiliar with market fluctuations.

Ranks and report news

Global Multidimensional Poverty Index (MPI) 2024: “Poverty Amid Conflict”

The Global Multidimensional Poverty Index (MPI) 2024 highlights the persistence of acute poverty worldwide, exacerbated by conflicts, fragility, and lack of peacefulness in many regions. The report underscores how these factors hinder or reverse progress in poverty reduction.

Key Findings of the MPI 2024

1. Global Statistics:

1. 1.1 billion people (18.3%) in 112 countries live in acute multidimensional poverty.
2. 455 million (40%) of the world’s poor reside in countries affected by war, fragility, or low peacefulness.
3. India’s Position:

2. India has the largest number of people living in poverty globally, with 234 million individuals.
3. Other countries with significant poverty numbers include:
   • Pakistan: 93 million
   • Ethiopia: 86 million
   • Nigeria: 74 million
   • Democratic Republic of Congo (DRC): 66 million
4. Child Poverty:

3. Children bear the brunt of multidimensional poverty, with 584 million children (over half of the 1.1 billion poor) affected.
4. 28% of children globally live in poverty, compared to 13.5% of adults.

Report Details

• Title: “Poverty Amid Conflict”
• Release Date: 17th October 2024 (International Day for the Eradication of Poverty)
• Joint Release By:
  • United Nations Development Programme (UNDP)
  • Oxford Poverty and Human Development Initiative (OPHI), University of Oxford

About UNDP

Appointment news

Itaru Otani Appointed as Chairman of India Yamaha Motor

• Itaru Otani has been named the Chairman of India Yamaha Motor.
• His appointment reflects Yamaha’s focus on strengthening its position in the highly competitive Indian two-wheeler market.

Strategic Vision for India

• Otani’s leadership aims to align Yamaha’s offerings with the evolving preferences of Indian consumers.
• Emphasis on developing innovative and stylish products tailored to meet local demands.
• Strategic priorities include:
  • Strengthening Yamaha’s presence in both urban and rural markets.
  • Introducing technology-driven and environmentally friendly two-wheelers.

Science news

ISRO Begins Groundbreaking Analogue Space Mission in Leh

ISRO announced the launch of its analogue space mission in Leh, Ladakh. This innovative mission aims to simulate life in an interplanetary habitat, addressing the challenges associated with establishing a base station beyond Earth. Through this initiative, ISRO seeks to gather insights and prepare for future space exploration endeavors.

Mission Overview

• Launch Date: November 1, 2024
• Location: Leh, Ladakh
• Objective: To simulate interplanetary living conditions and prepare for establishing extraterrestrial habitats.

Mission Objectives

1. Simulating Extreme Conditions

1. Ladakh’s climate provides a natural setting for testing extraterrestrial conditions.
2. Temperature Variations:
   • Summer: 3°C to 35°C
   • Winter: −20°C to −35°C with heavy snowfall
3. Focus: Replicating the environmental and geological challenges astronauts might face on Mars or the Moon.
4. Testing Astronaut Preparedness

2. Addressing potential challenges related to isolation, resource management, and adaptability.
3. Preparing astronauts for missions in extreme environments.

ISRO Quick Facts

Space Kidz India’s ShakthiSAT Mission: Empowering Girls in STEM Across 108 Nations

Space Kidz India, a Chennai-based aerospace startup, has launched the ambitious ShakthiSAT mission, aiming to inspire and train 12,000 girls across 108 countries in the field of space technology. This initiative seeks to promote STEM education (Science, Technology, Engineering, and Mathematics) among girls, equipping them with critical skills and hands-on experience in space exploration.

Key Highlights

1. Mission Overview:

1. Focus: Empower girls aged 14-18 through space technology training.
2. Coverage: 108 nations; aims to train 12,000 girls worldwide.
3. Training Details:

2. 120 hours of online training on topics including space technology, payload development, and spacecraft systems.
3. Following the online module, 108 students (one from each country) will travel to India for hands-on experience in payload and spacecraft prototype building.
4. Hands-on Training Period: June to August 2025.
5. Satellite Launch Plans:
6. The ShakthiSAT satellite will be launched as part of ISRO’s Chandrayaan-4 mission in 2026.
7. Inauguration:
8. The project is set to be officially unveiled by the President of India, Droupadi Murmu, in November 2024.

Mission Goals

• Foster Interest in STEM: Encourage young girls worldwide to pursue careers in science and technology.
• Promote Diversity: Provide global exposure and opportunities for students from diverse backgrounds.
• Hands-on Learning: Bridge the gap between theoretical knowledge and practical application in space technology.

Impact

The ShakthiSAT mission is poised to inspire millions of young girls worldwide, establishing a global network of future leaders in space technology. By fostering STEM education and creating opportunities for hands-on learning, this initiative will contribute to building an inclusive and innovative future in aerospace.

Sports news

ISSF Athletes of the Year 2024: Yang Ji-in and Liu Yukun

At the ISSF World Cup Final Opening Ceremony on 14th October 2024, held at Dr. Karni Singh Range, Tughlakabad, New Delhi, India, the International Shooting Sport Federation (ISSF) honored Yang Ji-in (South Korea) and Liu Yukun (China) as the Athletes of the Year 2024.

Award Recipients

1. Yang Ji-in (South Korea)

1. Award: Female ISSF Athlete of the Year 2024.
2. Achievements:
   • Gold medalist in women’s 25m pistol at the Paris 2024 Olympic Games (France).
   • Gold medals in the 2024 Asian Rifle/Pistol Championships (Jakarta) and 2024 ISSF World Cup (Baku).
   • Reached the finals in 4 of 5 ISSF World Cup events this season.
   • Bronze medalist at the 2022 Asian Games in Hangzhou, China.
3. Liu Yukun (China)

2. Award: Male ISSF Athlete of the Year 2024.
3. Achievements:
   • Olympic gold medalist in men’s 50m rifle 3 positions at the Paris 2024 Olympic Games with a final score of 463.6.
   • Set an Olympic record with a qualification score of 594.
   • Winner of the 2024 ISSF World Cup (Baku) in men’s 50m rifle 3 positions.

About the ISSF

• President: Luciano Rossi
• Headquarters: Munich, Germany
• Role: Governs international shooting sports competitions and sets global standards for the sport.

Important days

63rd ITBP Raising Day: 24th October 2024

The Indo-Tibetan Border Police (ITBP) Raising Day is observed annually on 24th October, commemorating the establishment of the ITBP in 1962.

Key Highlights

1. Significance:

1. Acknowledges the ITBP’s dedication to securing India’s borders, especially along the Indo-China border, and fostering safety in remote regions.
2. Marks 63 years of service and commitment in 2024.
3. Role:

2. ITBP serves as a Central Armed Police Force under the Ministry of Home Affairs (MHA).
3. Plays a vital role in border security, disaster response, anti-Naxal operations, and assisting in community development in border areas.

About ITBP

• Director General (DG): Rahul Rasgotra
• Headquarters: New Delhi, Delhi
• Established: 1962
• Motto: Shaurya-Dridhata-Karma Nishtha (Valour-Determination-Devotion to Duty)

National news

Smriti Irani Highlights Strong India-UAE Ties at Roundtable Discussion

Smriti Irani, former Union Minister and BJP leader, emphasized that India and UAE share a unique relationship rooted in history and shared values.

• During the India-UAE Roundtable, titled “India-UAE Synergies: Exploring Strategic Market Opportunities in India”, Irani highlighted that under Prime Minister Narendra Modi’s leadership, India is emerging as a rising economic power and a beacon of innovation and progress.
• The roundtable was hosted by Sheikh Rashid bin Humaid Al Nuaimi, Chairman of the Ajman Government Executive Council, at his residence in Ajman.
• Sheikh Rashid emphasized that the roundtable serves as a platform to explore the potential of India-UAE relations, especially in technology, renewable energy, and education sectors.

ABOUT UAE:

• Capital: Abu Dhabi
• Prime Minister: Sheikh Mohammed bin Rashid Al Maktoum
• Currency:  Dirham

Health and Education Ministries Sign MoU to Support IMS, BHU

The Ministry of Health and Family Welfare signed an MoU with Banaras Hindu University (BHU) and the Ministry of Education to support the Institute of Medical Sciences (IMS) at BHU.

• The MoU provides for a grant-in-aid to IMS, BHU, in alignment with the establishment of new All India Institute of Medical Sciences (AIIMS) under the Pradhan Mantri Swasthya Suraksha Yojana.
• The MoU was signed in New Delhi, with Union Minister of Health and Family Welfare, J.P. Nadda, and Union Education Minister, Dharmendra Pradhan in attendance.
• J.P. Nadda described the MoU as historic, emphasizing the “whole of government” approach, promoting collaboration among different ministries for public welfare.
• Dharmendra Pradhan highlighted that the MoU will help establish IMS, BHU as a world-class institute, enhancing affordable health care and clinical services in the region, reducing the need for referrals.

About  All India Institute of Medical Sciences :

·  Established: 1956

·  Chairman : Dr. M . Srinivas

·  Headquarters: New Delhi, India

PM Modi to Address Nation in 116th Episode of ‘Mann Ki Baat’

Prime Minister Narendra Modi will share his thoughts in the 116th episode of the ‘Mann Ki Baat’ radio programme on November 24.

• The programme will be aired on Akashvani, Doordarshan, the AIR News website, and the Newsonair mobile app.
• It will also be live-streamed on YouTube channels of AIR News, DD News, PMO, and the Information and Broadcasting Ministry.
• The regional language broadcasts will follow the Hindi version on Akashvani.
• This episode of Mann Ki Baat is part of the Prime Minister’s regular engagement with the public, where he discusses national and global issues, shares important government initiatives, and interacts with the citizens.

About  All India Radio :

·  Established: 1936

      · Headquarters: New Delhi, India

       ·  Chairman : Navneet Kumar Sehga

Dharmendra Pradhan and Mansukh Mandaviya Launch World Bank’s ‘Jobs at Your Doorstep’ Report

Union Education Minister Dharmendra Pradhan and Labour and Employment Minister Mansukh Mandaviya launched the ‘Jobs at Your Doorstep’ report by the World Bank in New Delhi.

• Dharmendra Pradhan praised the World Bank team for the comprehensive analysis on six states and suggested adopting a pan-India framework for the report.
• Pradhan emphasized that the report’s in-depth diagnostics on skilling and jobs will help create progressive policies and new architectures to empower the population.
• He stressed the need to broaden the definition of jobs and employment, especially considering the impact of technological disruptions on the nature of jobs and economic activities.
• Pradhan highlighted the importance of upskilling and reskilling the workforce to adapt to future challenges.
• Mansukh Mandaviya referred to the last budget proposal for developing a curriculum to utilize region-specific skills and employment opportunities. He also stressed the need to incorporate informal education into formal academic systems.

About world Bank :

• Established: 1944
• Headquarters: Washington, D.C., United States
• Chairman: Ajay Banga

International news

India Sends Second Consignment of Haemo-Dialysis Machines to Pacific Islands

India has dispatched the second consignment of Haemo-Dialysis machines with portable RO units to the Pacific Islands, fulfilling its commitment made at the FIPIC Summit.

• The consignment includes:
  • Three units sent to the Marshall Islands.
  • One unit each to Samoa, Solomon Islands, and Nauru.
• This initiative aims to support the healthcare infrastructure of the Pacific Islands, particularly in providing dialysis treatment.

India-Russia Strengthen Defence Ties at 22nd Working Group Meeting

The 22nd meeting of the India-Russia Working Group on Military Technical Cooperation was held in New Delhi.

• The meeting was part of the India-Russia Inter-Governmental Commission on Military and Military Technical Cooperation (IRIGC-M&MTC).
• The meeting was co-chaired by Sanjeev Kumar, Secretary of Defence Production from India, and A. Boytsov, First Deputy Director of the Federal Service for Military Technical Cooperation from Russia.
• The meeting aimed at strengthening defence ties and enhancing cooperation in military technical areas between India and Russia.

About Russia :

• Capital: Moscow
• Prime Minister: Mikhail Mishustin
• Currency: Russian Ruble (RUB)

                                                       SCIENCE AND TECHNOLOGY NEWS

Indian Scientists Identify New Pathway for Monkeypox Detection and Diagnostics

• Scientists from Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) have identified a new pathway for detecting Monkeypox and developing diagnostic tools.
• They characterized DNA sequences within the Monkeypox virus (MPV) genome, which could be targeted for detection and treatment.
• The Science and Technology Ministry highlighted the significance of identifying unusual nucleic acid structures, including G-quadruplex sequences (GQs), which are not found in other pox viruses or the human genome.

• These unique GQs in the MPV genome make them valuable targets for developing diagnostic tools and potential antiviral treatments.
• The outbreak of Mpox has raised concerns due to its unanticipated spread and unclear transmission methods, making this research important for understanding the virus and its virology.
• The discovery of these GQ sequences may also aid in the development of therapeutic interventions for Monkeypox.

About Jawaharlal Nehru Centre for Advanced Scientific Research

• Established: 1989
• Headquarters: Bengaluru, Karnataka, India
• President & Deans · Prof. G.U. Kulkarni

STATE NEWS

South Central Railway Launches First Banana Export Train from Andhra Pradesh

South Central Railway launched the first Banana Export Train from Tadipatri, Andhra Pradesh.

• The train is carrying 680 tonnes of bananas to Jawaharlal Nehru Port in Mumbai for export.
• The bananas will be exported to Middle Eastern countries, including Iraq, Qatar, Kuwait, and Saudi Arabia.
• CONCOR is providing end-to-end logistics to ensure smooth transportation.
• This initiative aims to strengthen global trade by boosting agricultural exports and highlights the important role of Indian Railways in supporting farmers and the economy.

About  Andhra Pradesh :

• Chief Minister (CM):  Sri Nara Chandra Babu Naidu
  • Capital: Amaravati

National Parks:

• Rajiv Gandhi National Park (also known as Rajiv Gandhi Wildlife Sanctuary)
• Koringa Wildlife Sanctuary
• Sri Venkateswara National Park

CAQM Urges Delhi-NCR States to Launch Special Drive for Impounding End of Life Vehicles

The Commission for Air Quality Management (CAQM) has urged all Delhi-NCR states to start a special drive for impounding End of Life Vehicles.

• Data from Traffic Police, Transport agencies, and municipal authorities on such vehicles must be compiled and submitted to the CAQM through the nodal agency.
• CAQM held a review meeting to ensure the strict implementation of the Graded Response Action Plan (GRAP) in the NCR region.
• The Commission has focused on:
  • Controlling construction and demolition dust.
  • Intensifying prevention of such activities.
• Revising inspection protocols for fire incidents in Punjab and Haryana (from 48 hours to 24 hours).

• Special attention must be given to hotspots in Delhi and checking entry points for non-permitted vehicles.
• The CAQM has directed that pending citizen complaints on apps and social media must be resolved in a time-bound manner.
• Daily reporting of actions under GRAP must be provided to the Commission.

AWARDS AND RECOGNITION NEWS

Maria Victoria Kjær Theilvig Crowned Miss Universe 2024

Maria Victoria Kjær Theilvig (21) from Denmark was crowned Miss Universe 2024 at the 73rd edition of the pageant, held at the Arena in Mexico City.

• Denmark celebrates its first-ever victory in the Miss Universe competition.
• The pageant had 125 contestants participating from around the world.
• Victoria Kjær Theilvig was crowned by Sheynnis Palacios (Miss Universe 2023) from Nicaragua.
• Miss Nigeria, Chidimma Adetshina, secured the 1st Runner-up spot, while Miss Mexico, Maria Fernanda Beltran, finished as 2nd Runner-up.
• India’s representative, Rhea Singha from Gujarat, made it to the top 30 finalists.
• Victoria Kjaer Theilvig becomes the first blonde woman to win Miss Universe since Jennifer Hawkins of Australia in 2004.

About Denmark :

·  Capital: Copenhagen

·  Currency: Danish Krone (DKK)

·  Prime Minister: Mette Frederiksen

82 Young Artists Honored with Ustad Bismillah Khan Yuva Puraskar

82 young artists were conferred with the Ustad Bismillah Khan Yuva Puraskar for the years 2022 and 2023 at a ceremony in New Delhi.

• The awards were presented by Culture Ministry Secretary Arunish Chawla.
• The Yuva Puraskar recognizes outstanding young talent in music, dance, drama, folk, and tribal art forms.
• Each award carries a purse money of ₹25,000 and is presented to artists under the age of 40.
• Yusuf Khan Mewati, an awardee from Rajasthan, expressed his gratitude and excitement for receiving the award.
• Padma Dolker became the first young artist from Ladakh to receive the honor, sharing her joy at this milestone.

National news

India and Maldives Sign MoU to Promote Use of Local Currencies in Cross-Border Transactions

India and Maldives have signed a Memorandum of Understanding (MoU) to promote the use of their local currencies, Indian Rupee (INR) and Maldivian Rufiyaa (MVR), in cross-border transactions.

• The MoU was signed by RBI Governor Shaktikanta Das and MMA Governor Ahmed Munawar in Mumbai.
• The agreement encourages the use of INR and MVR in current account transactions, permissible capital account transactions, and other financial dealings as agreed by both countries.
• The framework aims to optimize transaction costs and reduce settlement times for cross-border transactions.
• This initiative will allow exporters and importers to invoice and settle payments in their respective domestic currencies, promoting trade in the INR-MVR foreign exchange pair.
• This step will deepen financial integration and strengthen economic ties between India and the Maldives.

About Maldives:

• Governor: Ahmed Munawar
  • capital : Malé.
  • Currency: Maldivian Rufiyaa (MVR)
  • Official Language: Dhivehi

EPFO Registers 18.81 Lakh New Members in September, Reflecting Growth in Employment

EPFO (Employees’ Provident Fund Organisation) added 18.81 lakh new members in September 2024, marking a 9.33% growth compared to the same month last year.

• The increase in membership is attributed to growing employment opportunities, increased awareness of employee benefits, and EPFO’s outreach initiatives.
• The provisional payroll data revealed that 9.47 lakh new members were enrolled in September of the current fiscal year.
• The majority of new members (over 59%) belong to the 18 to 25 age group.
• 2.47 lakh women were added as new members, indicating a significant rise in female workforce participation.

About  Employees’ Provident Fund Organisation (EPFO) :

• Established: 1952
• Headquarters: New Delhi, India
• Chairman: Bhupender Yadav

 Jitendra Singh Launches VISION Portal to Empower Underprivileged Children with Skills

Dr. Jitendra Singh, the Minister of Science and Technology, inaugurated the VISION Portal (Viksit Bharat Initiative for Student Innovation and Outreach Network) in New Delhi.

• The initiative is focused on nurturing education, skill development, and innovation among underprivileged children across India.
• The Minister praised the entrepreneurial vision behind the portal and its efforts to democratize opportunities for students nationwide.
• The portal will act as a gateway for students, particularly those in remote areas, to access mentorship and training.
• Dr. Singh emphasized how reaching out to underprivileged youngsters helps in democratizing Startup skills.
• He highlighted India’s progress in startups, biotechnology, and space industries.
• The initiative aligns with the country’s goals under Vision India 2047, aiming to make India a global leader in technology, education, and economic growth.

Govt Directs EPFO to Ensure UAN Activation Through Aadhaar-Based OTP

The Government has directed the Employees’ Provident Fund Organisation (EPFO) to ensure the activation of the Universal Account Number (UAN) for employees through Aadhaar-based OTP.

• The Labour and Employment Ministry has instructed EPFO to collaborate with employers in a campaign mode to maximize the benefits of the Employment Linked Incentive Scheme announced in the Union Budget 2024-25.
• Stage 1: Employers must complete UAN activation through Aadhaar-based OTP for all employees joining in the current financial year by 30th November.
• Stage 2: Biometric authentication through face-recognition technology will be introduced for UAN activation.
• UAN activation will give employees seamless access to EPFO’s online services, such as managing Provident Fund accounts, submitting online claims, and tracking claims in real-time.

PM Modi to Inaugurate ICA Global Cooperative Conference on Nov 25

Prime Minister Narendra Modi will inaugurate the ICA Global Cooperative Conference on November 25 at Bharat Mandapam in New Delhi.

• This is the first time the Global Cooperative Conference and General Assembly are being held in India.
• Dr. Ashish Kumar Bhutani, Secretary of the Ministry of Cooperation, announced that PM Modi will also launch a commemorative stamp marking the International Year of Cooperatives 2025.
• The theme of the six-day conference is “Cooperatives Build Prosperity for All.”
• The conference will discuss the role of cooperatives in fostering a collective, peaceful, and prosperous future for all.
• Key international attendees include Prime Minister of Bhutan Dasho Tshering Tobgay and Deputy Prime Minister of Fiji Manoa Kamikamica.

                                                       International news 

Armenia Becomes 104th Full Member of International Solar Alliance

Armenia has officially become the 104th full member of the International Solar Alliance (ISA).

• The Instrument of Ratification was handed over by Armenian Ambassador to India, Vahagn Afyan, in a meeting with Abhishek Singh, Joint Secretary of the Ministry of External Affairs, in New Delhi.
• The International Solar Alliance is a global intergovernmental organization committed to advancing the adoption of solar power and working toward a carbon-neutral future.
• ISA is a collaborative initiative between India and France, created to unite efforts in addressing climate change through solar energy solutions.
• The ISA was conceptualized during COP21 in Paris in 2015, with the aim of accelerating the global deployment of solar energy in support of Climate Action.
• The mission of the ISA includes overcoming barriers related to technology, finance, and capacity, while working towards $1 trillion in solar investments by 2030.

India Collaborates with WEF on Report for Advanced Air Mobility

India plays a pivotal role in the ISA’s mission by providing renewable energy solutions and fostering the global energy transition.India Collaborates with WEF on Report for Advanced Air Mobility.

• The Ministry of Civil Aviation (MoCA), Government of India, in collaboration with the World Economic Forum (WEF), has released a report titled ‘Skyways to the Future: Operational Concepts for Advanced Air Mobility in India’.
• The report emphasizes that Advanced Air Mobility (AAM) offers a transformative approach to transportation, especially in densely populated regions like India.
• The AAM sector is expected to witness significant growth, with projections of 1,000+ aircraft and 100,000+ daily flights within the next 15 years.
• The WEF report outlines a 3-stage plan for the development and growth of Urban Air Mobility (UAM) in India over the coming decade and a half.

About World Economic Forum (WEF):

• Founder and Executive Chairman: Prof. Klaus Schwab
• Headquarters: Cologny, Switzerland
• Founded: 1971

Iraq Conducts First Nationwide Census Since 1987

• Iraq is conducting its first nationwide census since 1987, when it was last held under Saddam Hussein’s regime.
• The census involves 120,000 researchers who will collect data from households across all 18 governorates of the country.
• The census operation is scheduled to take place over two days, with a two-day curfew imposed by the Ministry of Interior to ensure the process runs smoothly.

About Iraq :

• Prime Minister of Iraq: Mohammed Shia’ Al Sudani
• Capital: Baghdad
• Currency: Iraqi Dinar (IQD)

                                                        BANKING NEWS

SEBI Abolishes 1% Security Deposit Requirement for Public Issues

SEBI (Securities and Exchange Board of India) has removed the mandatory 1% security deposit requirement for companies launching public issues of equity shares, effective immediately.

• The 1% deposit was previously intended to address investor grievances post-issue.
• The deposit is now considered redundant due to the introduction of modern mechanisms like ASBA (Application Supported by Blocked Amount), UPI payments, and demat allotments.
• This decision aligns with SEBI’s efforts to enhance the ease of doing business, streamline market processes, and reduce compliance burdens for companies.
• The security deposit was a safeguard, but with evolving regulatory frameworks, its role is no longer necessary.

 Securities and Exchange Board of India (SEBI):

• Established: 1988
• Headquarters: Mumbai, Maharashtra, India
• Chairman : Madhabi Puri Buch

 Karnataka Bank Launches Financial Products for Students: ‘KBL Peak’ and ‘KBL Genius’

Karnataka Bank Ltd. has launched two student-focused financial products: ‘KBL Peak’ and ‘KBL Genius’.

• The ‘KBL Peak’ education loan offers financial support for higher education, providing loans of up to ₹2 crore.
• The ‘KBL Genius’ is a student savings account that includes free cyber insurance and other benefits.
• These products were launched on World Prematurity Day, showcasing the bank’s commitment to enhancing India’s educational and economic growth.
• The bank aims to provide financial freedom to students, helping them achieve their academic goals and manage finances efficiently.
• Through these initiatives, Karnataka Bank strengthens its partnerships with educational institutions across India.

 About Karnataka Bank Ltd.:

• Karnataka Bank’s MD & CEO  : Mr. Srikrishnan H 
• Established: 1924
• Headquarters: Mangaluru, Karnataka, India
• Tagline: “Your Family Bank, Across India”

                                   AWARDS AND RECOGNITION

Shivangi Desai Crowned Miss Charm India 2024

Shivangi Desai, a 22-year-old law student from ILS Pune, has won the title of Miss Charm India 2024.

• She will represent India at Miss Charm 2024 in Vietnam this December.
• Shivangi is passionate about promoting India’s culture and has previously won titles such as Miss Teen India North and Miss NDA.
• As a final-year law student, she combines academics, pageantry, and cultural advocacy, setting an example for young aspirants.
• Her preparation for the title was guided by Pageant Coach Ritika Ramtri and the Glamanand Supermodel India team, who helped refine her pageant skills and contributed to her success.

Hindustan Copper Limited, MECL, and JNARDDC Recognized for Exceptional Performance During National Learning Week

• Hindustan Copper Limited (HCL), Mineral Exploration and Consultancy Limited (MECL), and Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC) were honored for their outstanding performance during National Learning Week (NLW), held from 19th to 27th October 2024.
• The award ceremony was conducted by the Capacity Building Commission (CBC) at Vigyan Bhawan, New Delhi and the awards were presented by Union Minister of State (MOS) Dr. Jitendra Singh, Ministry of Personnel, Public Grievances, and Pensions (MoPP&P).

Key Highlights:

• The Ministry of Mines (MoM) has consistently been recognized as a top performer for its effective implementation of Mission Karmayogi, a flagship programme for training civil servants.
• HCL, MECL, and JNARDDC each won awards for achieving the “Minimum 4-hour Learning Goal”, which required employees to complete at least 4 hours of Integrated Government Online Training (IGOT) courses during NLW.
• This recognition underscores the Ministry’s dedication to Mission Karmayogi, focusing on enhancing the capacity and skill sets of civil servants.

About Hindustan Copper Limited (HCL):

• Chairman and Managing Director (CMD): Ghanshyam Sharma
• Headquarters: Kolkata, West Bengal.
• Established : 1967.

                                          Important days

World Day for the Prevention of and Healing from Child Sexual Exploitation, Abuse, and Violence (18th November)

• World Day for the Prevention of and Healing from Child Sexual Exploitation, Abuse, and Violence is observed annually on 18th November to raise awareness about child abuse and violence.
• The day aims to prevent abuse, protect children, and support the recovery and healing of survivors.
• 18th November 2024 marks the 3rd observance of this significant day.

Key Highlights:

• Sexual abuse and exploitation of children are serious violations of human rights and constitute a public health problem, with profound consequences for global health and development.
• The day serves as a platform for open discussions about the need to prevent the stigmatization of survivors, promote their healing, affirm their dignity, and protect their rights.

National Naturopathy Day – 18th November

National Naturopathy Day is observed annually across India on 18th November to promote mental and physical health through Naturopathy, a holistic healthcare approach combining modern treatments with traditional methods.

• 18th November 2024 marks the 7th observance of National Naturopathy Day.
• The observance is led by the Ministry of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, Sowa Rigpa, and Homoeopathy).
• The theme for the 7th National Naturopathy Day is “Naturopathy for Healthy Aging and Longevity

Key points :

• In 2018, the Ministry of AYUSH declared 18th November as National Naturopathy Day.
• The first National Naturopathy Day was celebrated on 18th November 2018.

About Ministry of AYUSH:

• Full form :  Acronym for Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy
• Formed :  9th November 2014.
• Joint Secretary of the Ministry: Ms. Kavita Garg

NATIONAL NEWS

Over ₹54,000 Crore Allocated for Implementation of PMAY-G in 2023-24

On the 8th anniversary of Pradhan Mantri Awas Yojana-Gramin (PMAY-G), the Ministry of Rural Development announced that over ₹54,000 crore has been allocated this financial year to implement the scheme. PMAY-G aims to provide pucca houses with essential amenities to houseless households and those living in kutcha or dilapidated houses by March 2029. The scheme has been expanded to include an additional 2 crore houses, with a total outlay of over ₹3 lakh crore for the next five years.

• Originally targeting 2.95 crore houses by 2023-24, the scheme now aims to construct 2 crore more houses. To ensure broader inclusion, eligibility criteria have been relaxed, with the income threshold raised to ₹15,000 per month and exclusions reduced from 13 to 10.
• The scheme is being implemented in convergence with other programs like MGNREGA, SBM-G, Jal Jeevan Mission, and Surya Ghar to ensure access to basic services such as water, toilets, electricity, and solar energy. Special focus is being given to landless beneficiaries, with over 2.88 lakh houses and land provided over the past decade.

Pradhan Mantri Awas Yojana-Gramin (PMAY-G):

• Launched : November 20, 2016
• scheme aims :  2.95 crore houses by 2024.

Defence Minister Rajnath Singh Holds Bilateral Meetings with Chinese, Malaysian, and Lao Counterparts in Laos

Defence Minister Rajnath Singh held crucial bilateral meetings with his counterparts from China, Malaysia, and Laos in Vientiane, on the sidelines of the 11th ASEAN Defence Ministers’ Meeting Plus (ADMM-Plus). Singh is on a three-day visit to Laos to attend the meeting and address regional and international security issues.

• During his meeting with Chinese Defence Minister Admiral Dong Jun, Rajnath Singh emphasized the need for greater trust and confidence-building between the two sides, focusing on de-escalation along the India-China border. Both leaders agreed to work together on a roadmap to rebuild mutual trust and prevent any recurrence of border clashes like those in 2020.
• In his discussions with Malaysian Defence Minister Dato’ Seri Mohamed Khaled Bin Nordin, both sides committed to supporting each other’s efforts to promote regional security and stability, and looked forward to holding the Malaysia-India Defence Committee Meeting in early 2025. They also co-chair the ADMM Plus Expert Working Group on Counter Terrorism.
• During his meeting with Lao Defence Minister General Chansamone Chanyalath, Singh expressed India’s strong support for ASEAN’s unity and centrality in the Indo-Pacific region and reaffirmed India’s commitment to strengthen ties with Lao PDR and ASEAN. The revised MoU between India and Laos was also appreciated during the meeting.
• The ADMM-Plus platform includes ASEAN member states and eight dialogue partners, including India, the US, China, Russia, Japan, and South Korea, focusing on bolstering defence cooperation.

Educational Institutions Celebrate Janjatiya Gaurav Pakhwada to Honor Bhagwan Birsa Munda’s Legacy

Educational institutions across India are observing Janjatiya Gaurav Pakhwada to celebrate the legacy of Bhagwan Birsa Munda, a prominent tribal freedom fighter and social reformer. This initiative is part of the central government’s commitment to transforming the lives of tribal people, with a focus on economic empowerment.

• As part of this movement, India’s tribal products are gaining international recognition. For example, Araku Coffee made its global debut by opening an organic coffee shop in Paris in 2017, while dehydrated Mohua flowers from Chhattisgarh are being sold internationally, including in France. Other tribal products, such as shawls, paintings, wooden items, jewelry, and baskets, are also becoming increasingly popular, particularly in markets like the United States.
• The government is supporting these efforts through TRIFED outlets and collaborations with both national and international e-commerce platforms, helping tribal communities to gain access to global markets and improve their livelihoods.

President Droupadi Murmu to Inaugurate 125th Birth Anniversary Celebration of Dr. Harekrushna Mahtab

President Droupadi Murmu will inaugurate the 125th Birth Anniversary celebration of Utkal Keshari, Dr. Harekrushna Mahtab in New Delhi on 19 th November. During the event, a special commemorative stamp and coin will be released in honor of Dr. Mahtab, recognizing his significant contributions.

• Dr. Mahtab, born on 21st November 1899 in Agarpara, Odisha, was a freedom fighter, politician, historian, writer, social reformer, and journalist. Known for his strong will and determination, Dr. Mahtab is celebrated as one of Odisha’s foremost leaders and made lasting contributions to the state’s development and India’s freedom struggle.

About Odiasa :

• Chief Minister of Odisha: Naveen Patnaik
• Capital :  Bhubaneswar

National Park in Odisha:

• Simlipal National Park

International news

APEDA Showcases India’s Best at the Organic and Natural Expo in Dubai

To strengthen India’s presence in the West Asian organic market, the Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce of India, showcased a significant Indian presence at the 22nd Middle East Organic & Natural Products Expo in Dubai. APEDA coordinated the participation of 18 Indian companies, including 12 under its banner and 6 independently, who exhibited a range of value-added organic and natural products at the Indian Pavilion.

• The event, held at the Dubai World Trade Centre, saw impressive growth, with over 550 exhibitors—an 83% increase from the previous year. APEDA organized a buyer-seller meet to foster business connections, attracting around 40 participants, including Indian exporters and international buyers. Special emphasis was placed on millets, organic tea, spices, and other value-added organic products. Additionally, wet sampling of Indian organic cuisines was offered during the event.
• In collaboration with the Lulu Retail Chain in Al Barsha, Dubai, APEDA launched a dedicated section for Indian organic produce, featuring processed products and fresh fruits and vegetables. This marked a key step in expanding the reach of premium Indian organic goods in the region.
• West Asia is one of the fastest-growing markets for sustainable products, with manufacturers and distributors actively seeking opportunities in organic tea, food, beverages, beauty products, health supplements, and more.

   About Agricultural and Processed Food Products Export Development Authority :

• Established: 1986
• Headquarters: New Delhi, India.
• Chairman: Shri Abhishek Dev

APPOINTMENT NEWS

Cambodia’s National Assembly Approves Prak Sokhonn as Deputy PM and Foreign Minister

Cambodia’s National Assembly has approved the appointment of Prak Sokhonn as Deputy Prime Minister and Foreign Minister. The decision was made with unanimous support from 112 lawmakers, including Prime Minister Hun Manet, who expressed confidence in Sokhonn’s new role.

Prime Minister Hun Manet explained that the minor reshuffle was aimed at promoting more efficient implementation of Cambodia’s foreign policy. He emphasized the importance of maintaining and enhancing traditional relations, solidarity, and multi-sectoral cooperation with regional and global partners for mutual benefits. He also reiterated Cambodia’s commitment to more actively participating in international efforts for peace and stability.

Key Facts about Cambodia:

• Prime Minister: Hun Manet
• Currency: Cambodian Riel (KHR)
• Capital: Phnom Penh

                                                    BANKING NEWS

Moody’s Downgrades Six Bangladeshi Banks After Sovereign Rating Cut

Key Points:

• Moody’s has downgraded six Bangladeshi banks following a sovereign rating downgrade of Bangladesh.
• The affected banks include BRAC Bank, City Bank, Dutch-Bangla Bank, Eastern Bank, Mercantile Bank, and Premier Bank.
• Moody’s revised the outlooks on the long-term (LT) deposit ratings of these banks from stable to negative.
• Earlier this week, Moody’s downgraded Bangladesh’s sovereign long-term rating to B2 from B1, marking the second consecutive downgrade in under two years.
• Moody’s also reduced Bangladesh’s GDP growth forecast, projecting a slowdown to 4.5% from an earlier estimate of 6.3% for the current fiscal year.
• This marks the first time in 14 years that Bangladesh’s outlook was revised to negative by Moody’s, a significant shift since the country began receiving ratings from the agency in 2010.
• The downgrade is expected to increase borrowing costs for both the government and private sector, making it harder to access international funds amidst high inflation.

SBI Horniman Circle Marks 100 Years of Legacy

The State Bank of India (SBI) celebrated the centenary of its Horniman Circle Branch with a special event, during which Finance Minister Nirmala Sitharaman unveiled a commemorative ₹100 coin. This event highlighted SBI’s remarkable growth from just 100 branches in 1920 to over 22,640 branches today, with plans to open 500 more branches in FY25. The occasion also featured the release of the 5th edition of “The Evolution of the State Bank of India”, focusing on the bank’s transformation between 1981-1996. SBI’s significant role in India’s banking revolution, digital presence, and financial inclusion efforts were underscored during the celebration.

      About SBI

• Established:   1955.
• Headquarters: Mumbai, Maharashtra
• Chairman: Dinesh Kumar Khara
• Tagline: “The Banker to Every Indian”

                                                             STATE NEWS

Haryana Govt Launches ‘Haryana Good Governance Award Scheme’ to Encourage Excellence

The Haryana Government has launched the ‘Haryana Good Governance Award Scheme 2024’ to recognize and promote excellence in governance. The scheme aims to honor employees who contribute to improved governance through innovative work and extraordinary efforts.

Key points:

• The awards are categorized into flagship scheme awards, state-level awards, and district-level awards.
• Flagship awards will reward teams involved in flagship projects that have significantly improved governance, with a cash prize of ₹51,000.
• State-level awards will have cash prizes of ₹51,000 for the first prize, ₹31,000 for the second, and ₹21,000 for the third, distributed equally among the team members.
• District-level awards will include cash prizes of ₹31,000, ₹21,000, and ₹11,000, along with a trophy and certificate of appreciation.
• The District-level awards will be presented by the Deputy Commissioner of each district, and the certificate of appreciation for flagship awards will be signed by the Chief Secretary.

ABOUT HARYANA :

• Haryana Chief Minister: Nayab Singh Sain
• Capital of Haryana: Chandigarh
• Haryana’s National Park: Sultanpur National Park

                                                         SPORTS NEWS

India Wins Women’s Asian Champions Trophy 2024, Defeats China 1-0

India’s women’s hockey team won the Women’s Asian Champions Trophy for the second consecutive time by defeating China 1-0 in the final at Rajgir Hockey Stadium in Bihar. This victory marks India’s third title in the tournament, equaling South Korea’s record.

Key Highlights:

• The match was goalless in the first half, but India came out more aggressive in the second half.
• Deepika scored the decisive goal from a penalty corner in the 31st minute, securing the win for India.
• Deepika also emerged as the tournament’s top scorer with 11 goals and was named the player of the tournament.
• In the bronze medal match, Japan defeated Malaysia 4-1 to secure third place.

                                                            IMPORTANT DAYS

International Day for Tolerance 2024: Celebrating Tolerance and Promoting Understanding

The United Nations (UN) celebrates the International Day for Tolerance on 16 November each year to raise awareness about the importance of tolerance and encourage understanding, respect, and appreciation for cultural diversity. The day highlights the damaging effects of intolerance and advocates for policies that promote equality and opportunity for all.

Key Points:

• The UN General Assembly (UNGA) adopted Resolution A/RES/48/126 in 1993, declaring 1995 as the United Nations Year for Tolerance.
• In 1996, UNGA further proclaimed November 16 as the International Day for Tolerance through Resolution A/RES/51/95.
• The first International Day for Tolerance was observed on 16 November 1996.

                                                                     National news

Union Minister Dr. Jitendra Singh Launches India’s First Indigenous Antibiotic Nafithromycin

Union Minister of Science and Technology, Dr. Jitendra Singh, has launched Nafithromycin, India’s first indigenous antibiotic designed to combat drug-resistant infections. Addressing the launch event in New Delhi, Dr. Singh highlighted that Nafithromycin offers a three-day treatment regimen for drug-resistant pneumonia, which causes over two million deaths annually worldwide. The minister also noted the significant support provided to researchers since 2014, with Prime Minister’s personal intervention playing a crucial role in advancing such innovations.

• Developed with the support of the Biotechnology Industry Research Assistance Council (BIRAC), Nafithromycin, marketed under the name Miqnaf, is a major step towards addressing Antimicrobial Resistance (AMR) and is a breakthrough in Made in India pharmaceutical solutions.

BIRAC (Biotechnology Industry Research Assistance Council) :

• Established : 2012
• Headquarters: New Delhi, India
• Chairman: Dr. Rajesh S Gokhale

Prasar Bharati Launches OTT Platform WAVES at IFFI

Prasar Bharati, India’s national public broadcaster, has launched its OTT platform, WAVES, at the opening ceremony of the 55th International Film Festival of India (IFFI) in Goa. WAVES aims to meet the growing demand for digital streaming services while also reviving nostalgic Indian shows like Ramayan, Mahabharat, Shaktimaan, and Hum Log. The platform emphasizes family-friendly entertainment, offering a mix of timeless classics and modern digital trends.

• In addition to shows, WAVES features news, documentaries, regional content, and live events. The platform boasts content in over 12 languages and covers more than 10 genres, including women-centric content, animation, and regional programming. Notably, it offers live streaming of channels like Doordarshan and Akashvani, along with live events such as Prabhu Shriram Lalla Aarti and Prime Minister Narendra Modi’s Mann Ki Baat. WAVES also features live events like the upcoming US Premier League Cricket Tournament.
• WAVES stands out for its clean, family-oriented entertainment and its wide range of services, including video on demand, free-to-play gaming, radio streaming, and live TV streaming, supported by an e-commerce platform.

 IFFI :  International Film Festival of India.

• Established:  1952.
• Headquarters:  Goa, India.
• Chairman:   Ashutosh Gowariker 

                                           International news

India and Guyana Sign Ten Agreements to Strengthen Bilateral Cooperation

India and Guyana have signed ten agreements to enhance cooperation in various sectors such as health, hydrocarbons, agriculture, and more. The Memoranda of Understanding (MoUs) cover areas including medical products, the Janaushadhi scheme, a Cultural Exchange Programme, the deployment of a UPI-like system in Guyana, and collaboration in broadcasting between Prasar Bharati and National Communications Network. Another MoU was signed between National Defence Institute, Guyana and Rashtriya Raksha University, Gujarat.

• The agreements followed delegation-level talks between Prime Minister Narendra Modi and President Dr. Mohammed Irfaan Ali of Guyana. In a joint statement, Prime Minister Modi emphasized the importance of dialogue and diplomacy to resolve global issues, and highlighted climate justice as a shared priority. He also praised the defense cooperation between the two nations, citing the supply of Dornier aircraft by India to Guyana. Additionally, India’s role as a major supplier of pharmaceutical products to Guyana was acknowledged, and the establishment of Jan Aushadhi Kendras in Guyana was discussed.
• President Irfaan Ali lauded Prime Minister Modi for his leadership and referred to him as a ‘champion among leaders’. The two leaders also planted a sapling in Georgetown under the ‘Ek Ped Ma Ke Naam’ initiative.
• Prime Minister Modi’s visit to Guyana is a historic one, marking the first time in 56 years that an Indian Prime Minister has visited the country. He was received with great warmth and accorded a Ceremonial Guard of Honour at State House in Georgetown. During his visit, Modi will address the Guyana Parliament, meet cricketers, and engage with the Indian diaspora in the country.

 About Guyana:

• Currency: Guyana Dollar (GYD)
• Prime Minister: Mark Anthony Phillips
• Capital: Georgetown

Japan Announced as Official Partner Country for the 25th Hornbill Festival in Nagaland

Japan has been announced as the official partner country for the 25th edition of Nagaland’s Hornbill Festival, alongside Wales. This partnership, solidified through meetings between Nagaland’s Chief Minister Neiphiu Rio and representatives from the Japanese Embassy, marks a significant milestone in the festival’s history.

The Hornbill Festival, set to take place from December 1-10 at Kisama near Kohima, will feature Japanese cultural performances, workshops on handicrafts, and sessions on bamboo products, with renowned Japanese artists and experts leading the activities. This collaboration highlights a unique fusion of cultures and enhances the global reach of the festival.

 ABOUT NAGALAND:  

• Nagaland Chief Minister: Neiphiu Rio
• Capital of Nagaland: Kohima

National Park in Nagaland:

• Kohima Nature Park
  • Intanki National Park
  • Puliebadze Wildlife Sanctuary

India and Japan Sign Memorandum of Implementation for Co-Development of UNICORN Mast for Indian Navy

On November 15, 2024, the Government of India (GoI) and the Government of Japan signed a Memorandum of Implementation (MOI) for the co-development of the Unified Complex Radio Antenna (UNICORN) mast, to be fitted onboard Indian Navy ships. This is India’s first military technology transfer pact with Japan under the India-Japan Defence Technology Cooperation (IJDTC).

Key Points:

• UNICORN mast is a stealth-enhancing conical structure housing antennas, developed by NEC Corporation, Sampa Kogyo K.K., and The Yokohama Rubber Company Limited in Japan.
• The mast will be installed on Indian Navy warships, aiming to enhance technological and stealth capabilities.
• The initiative marks the first co-development and co-production of defense equipment between India and Japan.
• Bharat Electronics Limited (BEL), based in Bengaluru, Karnataka, will collaborate with Japan for the mast’s development and induction.

About Japan

• Japan Prime Minister:  Shigeru Ishiba,
• Capital of Japan: Tokyo
• Currency of Japan: Japanese Yen (JPY)

                                                  Banking news

RBI Designates SBI, HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks for 2024

Key Points:

• The Reserve Bank of India (RBI) has designated State Bank of India (SBI), HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs) for 2024.
• These banks are classified as ‘too big to fail’, meaning they must maintain higher Common Equity Tier 1 (CET1) capital buffers to ensure financial stability.

Specific Requirements:

• SBI remains in bucket 1 and requires an additional CET1 buffer of 0.80%.
• HDFC Bank, in bucket 2, has a 0.40% CET1 buffer requirement.
• ICICI Bank is in bucket 1, needing a 0.20% CET1 buffer.

Changes and Timelines:

• The higher D-SIB surcharges for SBI (0.80%) and HDFC Bank (0.40%) will apply starting April 1, 2025.
• Until March 31, 2025, the surcharge for SBI is 0.60% and for HDFC Bank is 0.20%.

Background:

• The RBI’s D-SIB classification is based on a bank’s size, complexity, and interconnectedness within the financial system.
• The classification is updated annually, with the framework being established in 2014 and updated in 2023.

Reserve Bank of India (RBI)

• Governor: Shaktikanta Das (as of 2024)
• Established: 1st April 1935
• Headquarters: Mumbai, Maharashtra, India
• Tagline: ” India’s Central Bank”

                                          AWARDS AND RECOGNITION

UNWTO Recognizes 55 Villages as Best Tourism Villages for 2024

On 15th November 2024, the United Nations World Tourism Organization (UNWTO) announced the names of 55 villages that have been recognized as the Best Tourism Villages for 2024. This initiative highlights rural destinations that contribute to sustainable tourism, cultural preservation, and community development. Notable villages included in this year’s list are Caviahue-Copahue (Argentina), Sibayo (Peru), Xito (China), and Tra Que Vegetable Village (Vietnam), among others.

The villages were selected from over 260 applications across 60 UN Tourism Member states. Seven villages, including Ruboni (Uganda) and Bo Suak (Thailand), were selected from the BTV Upgrade Programme. Additionally, 20 villages were chosen for the Upgrade Programme for 2024, with Dhudmaras village in Bastar, Chhattisgarh, being the only Indian village featured on the list.

About UNWTO:

• Secretary-General: Zurab Pololikashvili
• Headquarters: Madrid, Spain
• Established: 1970

                                                         Important days

UN World Day of Remembrance for Road Traffic Victims 2024

The United Nations (UN) observes the World Day of Remembrance for Road Traffic Victims (WDOR) every year on the 3rd Sunday of November to honor the lives lost and affected by road traffic accidents. This year, WDOR 2024 will be observed on November 17, 2024.

The theme for WDOR 2024 is “Remember. Support. Act.“, emphasizing the need for remembrance of the victims, support for their families, and action to improve road safety worldwide

KEY POINTS:
On October 26, 2005, the UN General Assembly (UNGA) passed resolution A/RES/60/5, which officially designated the 3rd Sunday in November as the day for this global observance, aimed at improving road safety and preventing road traffic injuries.

This day serves as a call to action for governments, organizations, and individuals to raise awareness and take steps to reduce road traffic accidents and support those affected by them.

International Students’ Day 2024: Celebrating Diversity and Academic Freedom

International Students’ Day is celebrated annually on November 17 to honor multiculturalism, diversity, and teamwork among students, and to advocate for equal educational opportunities for all children worldwide. In 2024, the day marks its 84th observance.

• KEY POINTS :
  This day commemorates the events that followed the Nazi invasion of Charles University in Prague, Czech Republic in 1939. When students protested the occupation during World War II, the Nazis responded by closing universities, arresting hundreds of students, and executing nine student leaders. The courage and sacrifice of these students for academic freedom and human rights led to the establishment of this day.
• First observed on November 17, 1941, by the International Students’ Council in London, UK.

National news

ISRO Successfully Launches GSAT-20 Satellite on SpaceX’s Falcon 9 Rocket

Indian Space Research Organisation (ISRO) has successfully launched its most advanced communications satellite GSAT-20 on board SpaceX’s Falcon 9 rocket from Cape Canaveral, USA. The satellite was launched on the night of the event, marking a significant achievement for ISRO’s commercial arm, New Space India Limited (NSIL).

• ISRO Chairman S. Somanath confirmed that the launch was successful, with the satellite’s solar panels deployed and it being in healthy condition. The GSAT-20 will provide broadband services in remote areas and in-flight Internet for passenger aircraft, and it is expected to operate for 14 years. This launch marks the first time ISRO has used a SpaceX rocket for such a mission.
• Weighing 4,700 kg, the GSAT-20 is one of India’s heaviest communication satellites, which made it too heavy for ISRO’s own LVM-3 rocket, known as ‘Bahubali’, to carry. Hence, SpaceX was chosen for the launch. Until now, India had relied on Arianespace, a French provider, for heavy satellite launches. However, due to Arianespace’s lack of operational rockets, SpaceX was the only reliable option, with its Falcon-9 capable of launching payloads up to 8,300 kg to geostationary transfer orbit.

About ISRO :  Indian Space Research Organisation (ISRO)

• Established: August 15, 1969
• Headquarters: Bengaluru, Karnataka, India
• Chairman: Dr. S. Somanath (as of 2023)

About NSIL :  NewSpace India Limited (NSIL)

• Established: March 2019
• Headquarters: Bengaluru, Karnataka, India
• Chairman & Managing Director: Radhakrishnan Durairaj

Amit Shah to Inaugurate Golden Jubilee Edition of All India Police Science Congress in Gujarat

Union Home Minister Amit Shah will inaugurate the Golden Jubilee edition of the All India Police Science Congress at Rashtriya Raksha University in Gandhinagar, Gujarat, 19 th november. This significant event, marking the 50th edition of the Congress, will be attended by Chief Minister Bhupendra Patel and other key dignitaries.

• The two-day conference aims to discuss the future of Indian policing, the adoption of global best practices, and technology-led reforms. Key topics include the use of forensics and AI in criminal justice, the role of police in disaster management, and the potential of blockchain technology in policing. Other important issues such as tackling cyber fraud and radicalization in prisons will also be discussed.
• Approximately 250 participants from central and state police forces, forensic experts, and academicians are expected to attend. The event will also feature a Police Science Exhibition showcasing the latest in policing technology and practices.
• In addition to the Police Science Congress, Amit Shah will also inaugurate the Gandhinagar Postal Stamp Exhibition (Phila Vista) and an Animal feed plant at Sabar Dairy in Himmatnagar during his visit.

About Gujarat:

• Chief Minister (CM): Bhupendra Patel
• Capital: Gandhinagar
• National Parks:
• Gir National Park (famous for Asiatic lions)
• Velavadar Blackbuck National Park
• Marine National Park (in the Gulf of Kutch)

India Targets 10,000 MMT Port Handling Capacity by 2047: Union Minister Sarbananda Sonowal

Union Minister for Ports, Shipping, and Waterways, Sarbananda Sonowal, announced that India is aiming for a port handling capacity of 10,000 million metric tons (MMT) per annum by 2047. Speaking at the inaugural Sagarmanthan – The Great Oceans Dialogue, Sonowal highlighted India’s ambitious plan to transform its maritime sector with an investment of ₹80 lakh crores. This investment will focus on enhancing port capacity, shipping, shipbuilding, and inland waterways.

• The Amrit Kaal Maritime Vision 2047 aims to create future ships powered by clean fuels as part of India’s commitment to sustainable development. Sonowal emphasized the importance of the blue economy and noted that delegates from over 60 countries participated in the event, sharing valuable expertise.
• India’s ultimate goal is to become the leading maritime nation worldwide, excelling in areas such as port operations, cargo handling, shipbuilding, and legislative reforms. He also pointed out that turnaround times at Indian ports have significantly improved, now reduced from 45 hours to just 22 hours, outperforming many advanced maritime nations.

                                                   INTERNATIONAL NEWS

India’s High Commission in Sri Lanka Celebrates 555th Birth Anniversary of Guru Nanak Dev

The High Commission of India in Sri Lanka commemorated the 555th Birth Anniversary of Guru Nanak Dev at the  Swami Vivekananda Cultural Center in Colombo. The occasion featured a Kirtan performance by Bhai Pardhan Singh and Bhai Princepal Singh. In his address, High Commissioner Santosh Jha highlighted that the teachings of Guru Nanak Dev, particularly his emphasis on kindness, compassion, and a caste-less society, remain highly relevant in today’s world.

Sri Lanka is one of the countries that Guru Nanak is believed to have visited during his four Udaasis (spiritual tours), including a visit to Batticaloa.

About srilanka

Capital: Colombo

High-Level Meeting on Nepal-India Border Security Coordination Discusses Illegal Entry of Third-Country Nationals

A high-level meeting on Nepal-India border security coordination began in Kathmandu . The key focus of the discussions is on tackling cross-border crime and addressing the illegal entry of third-country nationals. Proposals have been presented by the Nepali side on enhancing crime control in border areas, improving information exchange, curbing revenue leakage, and combating issues like illegal drug trafficking, human trafficking, and the illegal entry of foreign nationals.

• The meeting is being led by Director General Amrit Mohan Prasad of India’s SSB (Sashastra Seema Bal), heading a six-member Indian delegation. The Nepali delegation includes senior security officials, such as APF Chief Aryal, along with representatives from the Home Ministry, National Investigation Department, Survey Department, and Ministry of Foreign Affairs.
•  the Indian delegation met with Nepal’s Home Minister Ramesh Lekhak at Singh Durbar, where Lekhak emphasized the importance of ensuring that individuals crossing the border are treated with respect and dignity.
• This meeting is part of ongoing efforts to strengthen the long-standing ties between Nepal and India, focusing on enhancing border security and cooperation.

About Nepal:

• Capital: Kathmandu
• Currency: Nepalese Rupee (NPR)
• Prime Minister (PM):  KP Sharma Oli

Dubai Hosts 3rd Global Freight Summit, Drawing Over 5,000 Industry Leaders

A high-level meeting on Nepal-India border security coordination began in Kathmandu . The key focus of the discussions is on tackling cross-border crime and addressing the illegal entry of third-country nationals. Proposals have been presented by the Nepali side on enhancing crime control in border areas, improving information exchange, curbing revenue leakage, and combating issues like illegal drug trafficking, human trafficking, and the illegal entry of foreign nationals.

• The meeting is being led by Director General Amrit Mohan Prasad of India’s SSB (Sashastra Seema Bal), heading a six-member Indian delegation. The Nepali delegation includes senior security officials, such as APF Chief Aryal, along with representatives from the Home Ministry, National Investigation Department, Survey Department, and Ministry of Foreign Affairs.
•  the Indian delegation met with Nepal’s Home Minister Ramesh Lekhak at Singh Durbar, where Lekhak emphasized the importance of ensuring that individuals crossing the border are treated with respect and dignity.
• This meeting is part of ongoing efforts to strengthen the long-standing ties between Nepal and India, focusing on enhancing border security and cooperation.

About Nepal:

• Capital: Kathmandu
• Currency: Nepalese Rupee (NPR)
• Prime Minister (PM):  KP Sharma Oli

Dubai Hosts 3rd Global Freight Summit, Drawing Over 5,000 Industry Leaders

A high-level meeting on Nepal-India border security coordination began in Kathmandu . The key focus of the discussions is on tackling cross-border crime and addressing the illegal entry of third-country nationals. Proposals have been presented by the Nepali side on enhancing crime control in border areas, improving information exchange, curbing revenue leakage, and combating issues like illegal drug trafficking, human trafficking, and the illegal entry of foreign nationals.

• The meeting is being led by Director General Amrit Mohan Prasad of India’s SSB (Sashastra Seema Bal), heading a six-member Indian delegation. The Nepali delegation includes senior security officials, such as APF Chief Aryal, along with representatives from the Home Ministry, National Investigation Department, Survey Department, and Ministry of Foreign Affairs.
•  the Indian delegation met with Nepal’s Home Minister Ramesh Lekhak at Singh Durbar, where Lekhak emphasized the importance of ensuring that individuals crossing the border are treated with respect and dignity.
• This meeting is part of ongoing efforts to strengthen the long-standing ties between Nepal and India, focusing on enhancing border security and cooperation.

About Nepal:

• Capital: Kathmandu
• Currency: Nepalese Rupee (NPR)
• Prime Minister (PM):  KP Sharma Oli

Dubai Hosts 3rd Global Freight Summit, Drawing Over 5,000 Industry Leaders

The Global Freight Summit 2024 kicked off 19 th November  in Dubai, marking its third edition since its inception in 2022. Hosted by DP World, the three-day event has attracted over 5,000 industry leaders from 155 countries, representing various sectors of the global supply chain industry. The summit, running until November 20, focuses on the theme “Acting today to reach the opportunities of tomorrow”.

• Key discussions at the summit revolve around four critical pillars: the integration of AI and blockchain in business operations, strategies for navigating volatile global markets, sustainable shipping practices, and building resilient trade routes in the face of geopolitical challenges and natural disasters.
• Notably, Indian corporations such as Wipro, Tech Mahindra, and SRM Tech are participating, alongside numerous other companies and entrepreneurs. Bollywood and cricket stars will also take part in panel discussions. A key focus this year is the implementation of digital solutions and addressing challenges in technological transitions. Special attention is being given to developing innovative solutions for supply chain diversification and risk mitigation in global trade routes.

About UAE :

• Capital: Abu Dhabi
• Prime Minister (PM): Sheikh Mohammed bin Rashid Al Maktoum
• Currency: UAE Dirham (AED)

Banking news

RBI Governor Urges Bank Boards to Strengthen Governance and Curb Mis-Selling Practices

RBI Governor Shaktikanta Das emphasized the need for private sector bank boards to reinforce their internal governance frameworks and take decisive steps to curb unethical practices, particularly mis-selling of products and opening accounts without proper KYC verification. Speaking at the Conference of Directors of Private Sector Banks in Mumbai, the Governor also stressed the importance of carefully structuring staff incentives to avoid encouraging such unethical behavior.

• Das further urged the boards to manage concentration risks by closely monitoring portfolios, identifying over-concentration, and addressing any potential vulnerabilities in their operations.
• This was the second annual conference organized by the Reserve Bank of India (RBI) with the boards of private sector banks as part of its ongoing engagement with the banking sector. Over 200 directors, including chairmen, managing directors, and CEOs of private sector banks participated in the conference.

Reserve Bank of India (RBI)

• Established: April 1, 1935
• Headquarters: Mumbai, Maharashtra, India
• Governor: Shaktikanta Das
• Tagline: “Bringing Banking to Life”

Banks Should Target ₹6.12 Lakh Cr MSME Lending for FY 2025-26, ₹7 Lakh Cr for FY 2026-27: FM Sitharaman

Union Finance Minister Nirmala Sitharaman announced that banks should aim for ₹6.12 lakh crore in MSME lending for FY 2025-26 and ₹7 lakh crore for FY 2026-27. She made this statement during her keynote address at the 11th SBI Banking & Economics Conclave in Mumbai, which focused on the theme ‘Making Aspiration of Viksit Bharat a Reality’.

Sitharaman also highlighted India’s remarkable economic growth, noting that in 2013-14, India became the 10th largest economy, and by 2021-22, it had risen to 5th position. She expressed confidence that India will soon achieve the 3rd position in the global economic rankings.

Micro, Small, and Medium Enterprises (MSME):

· headquarter  : New Delhi, India.

·  established : 2007

                                                       State news

Telangana Govt Establishes Telangana AI Advisory Council

The Telangana government has established the Telangana Artificial Intelligence (AI) Advisory Council to study best practices in AI policies and create a strong policy framework for the state’s AI growth. The announcement was made by IT Minister D. Sridhar Babu at the AI in Healthcare Summit: Road to BioAsia 2025 held in Hyderabad.

• Minister Babu emphasized the transformative potential of AI for industries, the environment, and society, noting that education and innovation can drive economic growth and productivity, particularly in areas of comparative advantage. He highlighted the vast scope of AI in healthcare, including drug discovery, diagnostics, and improving patient care and safety.
• The minister also stressed the role of the AI Advisory Council in promoting inclusive, ethical, and responsible AI growth, aligned with Sustainable Development Goals. He assured support for companies and announced AI training programs. Additionally, partnerships with companies will focus on training skilled AI engineers for MSMEs, and plans for an AI-focused university were also shared.

About MSME : Micro, Small and Medium Enterprises in India.

• Chair man : Shri Jitan Ram Manjhi,
• Established : 2007

About Telangana:

• Capital: Hyderabad
• Chief minister:  Revanth Reddy

Guru Ghasidas-Tamor Pingla in Chhattisgarh Notified as India’s 56th Tiger Reserve

Guru Ghasidas-Tamor Pingla Tiger Reserve in Chhattisgarh has been officially notified as the 56th Tiger Reserve of India, as announced by Environment Minister Bhupender Yadav. The reserve spans 2,829 sq km, with the Chhattisgarh government notifying it based on recommendations from the National Tiger Conservation Authority.

The tiger reserve includes a critical tiger habitat of 2,049.2 sq km, comprising the Guru Ghasidas National Park and Tamor Pingla Wildlife Sanctuary, with an additional buffer zone of 780.15 sq km. This makes it the third-largest tiger reserve in India, following the Nagarjunasagar-Srisailam Tiger Reserve in Andhra Pradesh and Manas Tiger Reserve in Assam

About Chhattisgarh :

• Capital: Raipur
• Chief Minister (CM): Vishnu Dev Sai

National Parks:

• Kanger Valley National Park
  • Indravati National Park
  • Achanakmar Wildlife Sanctuary

Appointment news

Dr. Navinchandra Ramgoolam Appointed Prime Minister of Mauritius for Third Term

Dr. Navinchandra Ramgoolam, leader of the Labour Party, has been appointed as the Prime Minister (PM) of Mauritius for the third time by President Prithvirajsing Roopun. This follows the victory of his coalition, Alliance du Changement, in the parliamentary election. He took the oath of office on November 13, 2024, for a five-year term, succeeding Pravind Kumar Jugnauth, who had served as PM since 2017.

• In the election, the opposition coalition won a decisive victory, securing 62.6% of the vote and winning 60 out of 62 contested seats, while the People’s Alliance led by Jugnauth failed to win any seats. This election was the 12th since Mauritius gained independence in 1968.

About Mauritius:

• Capital: Port Louis
• Currency: Mauritian Rupee (MUR)
• prime minister of Mauritius :  Navin Ramgoolam

ACA Appoints Mithali Raj as Mentor of Women’s Cricket Operations

The Andhra Cricket Association (ACA) has appointed former Indian women’s cricket captain, Mithali Raj, as the Mentor of Women’s Cricket Operations. Raj, widely regarded as one of the greatest female cricketers, has signed a three-year contract with the ACA.

Key Responsibilities:

• Scouting and nurturing young talent across Andhra Pradesh, with a focus on developing the next generation of women cricketers.
• Bringing her vast experience and knowledge to guide and support the growth of women’s cricket in the state.

About Mithali Raj:

• Mithali Raj retired from international cricket in 2022 and has been an advocate for the promotion of women’s sports.
• She will use her extensive expertise to help shape the future of women’s cricket in Andhra Pradesh and beyond.

 Andhra Cricket Association (ACA) :

Established:  1953.

Headquarters: Visakhapatnam, Andhra Pradesh, India

Chairman:  Kesineni Sivanath

                                           Acquisition and Mergers 

HDFC Standard Life Buys Rs 90 Crore Worth of PNB Housing Finance Shares

HDFC Standard Life Insurance Company Limited, based in Mumbai, has acquired 0.4% shares of PNB Housing Finance Limited for Rs 90 crore through an open market transaction. This acquisition reflects HDFC Standard Life’s interest in expanding its portfolio in the housing finance sector.

Key Details:

• The shares were purchased at an average price of Rs 900 per share, amounting to a total transaction value of Rs 90 crore.
• Following the transaction, the foreign investor Asia Opportunities V (Mauritius) Ltd reduced its stake in PNB Housing Finance from 1.34% to 0.94%.
• Earlier in August 2024, Asia Opportunities V (Mauritius) sold a 3% stake in PNB Housing Finance for Rs 676 crore.
• In May 2024, Asia Opportunities V and General Atlantic sold a combined 4.46% stake in the company for Rs 843 crore.

About PNB Housing Finance:

• Headquarters: New Delhi, India
• Managing Director and Chief Executive Officer : Mr. Girish Kousgi
• Established: 1988

Important days

Prime Minister Pays Tribute to Rani Lakshmibai of Jhansi on Her Birth Anniversary

On 19 th November   birth anniversary of Rani Lakshmibai of Jhansi, Prime Minister Narendra Modi paid heartfelt tribute to her, calling her a true embodiment of courage and patriotism. In a post on X, the Prime Minister honored her legacy, highlighting her bravery and leadership during the fight for freedom.

• Rani Lakshmibai is celebrated as a symbol of fearlessness and resilience in India’s struggle for independence.
• The Prime Minister’s tribute underscores Rani Lakshmibai’s role as a leader during the Indian Rebellion of 1857 and her lasting impact on the nation’s history.

International Men’s Day:

  International Men’s Day (IMD) was first celebrated on November 19, 1999, in            Trinidad and Tobago, founded by Dr. Jerome Teelucksingh.

• The day aims to celebrate positive male role models, raise awareness about issues that men face, and promote gender equality.
• The day encourages a discussion about men’s health, mental well-being, toxic masculinity, social issues, and the contributions that men make to family, community, and society.
• The 2024 theme focuses specifically on health-related issues impacting men, with an emphasis on both physical and mental health. This theme will encourage conversations about how to improve the overall health and well-being of men globally, address health disparities, and raise awareness about health risks that are more prevalent in men.

National news

PM Modi to Attend G20 Summit in Rio de Janeiro, Brazil

Prime Minister Narendra Modi is set to attend the G20 Summit in Rio de Janeiro, Brazil, 18 th November . The summit, which will continue for two days, will see world leaders, including US President Joe Biden and Chinese President Xi Jinping, coming together to discuss global issues.

• During the summit, PM Modi is expected to hold separate talks with world leaders on the sidelines. As part of the G20 Troika, which also includes Brazil and South Africa, India has played an active role in shaping the ongoing discussions at the summit.
• This year’s summit theme is “Building a Just World and a Sustainable Planet,” with Brazil prioritizing social inclusion, poverty, sustainable development, and the reform of global governance institutions. The summit will also build on the outcomes of the G20 New Delhi Leaders’ Declaration and India’s Voice of the Global South Summits hosted in recent years.
• India’s success in the 2023 G20 Summit included convincing world leaders to include the Russia-Ukraine war in the New Delhi Declaration and bringing the African Union into the G20, amplifying the voice of the Global South on the global stage.

About Group of Twenty (G20) :

• Established: 1999
• Members: 19 countries and the European Union (EU)

PM Modi Addresses Indian Community in Abuja: India’s Journey Towards ‘Viksit Bharat’

Prime Minister Narendra Modi addressed the Indian diaspora in Abuja, Nigeria, emphasizing that India has embarked on a new journey with the goal of building a ‘Viksit Bharat’ (Developed India). He highlighted the nation’s transformation, which is defined by innovation, progress, and new pathways that have become the hallmark of India’s identity.

Key Points:

• India’s New Journey: PM Modi stated that India has moved beyond its comfort zone, with a focus on innovation and creating pathways for progress.
• Startup Ecosystem: India now has over 1.5 lakh registered startups, with 100+ Unicorns in the past decade, showcasing the success of its startup culture.
• Economic Growth: India has added 2 trillion US Dollars to its GDP in the last decade.
• Space Achievements: India is advancing in space, with plans to send Indians to space through its own Gaganyaan mission and build a space station.
• Defense Exports: India’s defense exports have increased nearly 30 times in recent years.

Parliamentary Standing Committee Reviews Indian Coast Guard’s Role in Coastal Security

The Parliamentary Standing Committee on Defence held a meeting in Chennai 18 th November  to review the role of the Indian Coast Guard (ICG) in ensuring coastal security along India’s extensive maritime boundaries. The meeting was led by Radha Mohan Singh, with senior officials from the Ministry of Defence and ICG in attendance.

Key Points:

• Director General’s Briefing: S Paramesh, Director General of the Indian Coast Guard, provided a comprehensive overview of the ICG’s operational capabilities, strategic initiatives, and readiness to tackle coastal security challenges.
• Coastal Security Efforts: The discussion focused on the ICG’s efforts to safeguard India’s maritime interests, improve coordination with stakeholders, and enhance response mechanisms for maritime safety and security.
• Advanced Capabilities: The ICG’s use of advanced surveillance systems, state-of-the-art vessel fleets, and specialized response units was highlighted. The Coast Guard also plays a vital role in combating illegal fishing, smuggling, and human trafficking.
• infrastructure, and inter-agency coordination efforts.
• Safeguarding the Coastline: The ICG’s proactive role in securing India’s 11,098 km coastline and protecting vital maritime trade routes was commended.

Indian Coast Guard (ICG) :

Coast Guard Headquarters:  New Delhi

Chairman : S. Paramesh

Established : 1977

India Successfully Conducts Flight Test of Long-Range Hypersonic Missile

India has successfully conducted the flight test of its first long-range hypersonic missile from Dr APJ Abdul Kalam Island off the coast of Odisha. The Defence Research and Development Organisation (DRDO) carried out the flight trial yesterday, marking a significant milestone in India’s defence capabilities.

Key Points:

• Hypersonic Missile Features: This advanced missile is designed to carry various payloads and is capable of striking targets over a range greater than 1,500 km. It is a critical asset for India’s Armed Forces, enhancing the country’s strategic military capabilities.
• Defence Minister’s Statement: Rajnath Singh, the Defence Minister, hailed the successful test as a historic achievement. He praised the efforts of DRDO, the Armed Forces, and the defence industry, stating that India is now part of a select group of nations possessing such advanced military technologies.

About Odisha :

• Capital:  Bhubaneswar

• Chief minister: Mohan Charan Majhi
• Governor:   Raghubar Das

About  Defence Research and Development Organisation (DRDO):

• Chairman: Dr. Samir V. Kamat
• Headquarters: New Delhi, India.                                         

                           International news

IMF Team Arrives in Sri Lanka for 3rd Review of Economic Reform Programme

A delegation from the International Monetary Fund (IMF) has arrived in Sri Lanka to conduct the third review of the island nation’s economic reform programme. The review is part of Sri Lanka’s ongoing financing programme under the Extended Fund Facility (EFF) approved by the IMF.

Key Points:

• IMF Mission: The IMF team, led by Peter Breuer, Senior Mission Chief, will assess Sri Lanka’s economic policies, evaluate the progress of ongoing reforms, and review the implementation of prior agreements between Sri Lanka and the IMF.
• IMF Extended Fund Facility: Sri Lanka was approved for a 2.9 billion dollar Extended Fund Facility to be disbursed over 48 months. This loan is intended to help the country recover from its economic crisis and restore stability.
• Sri Lanka’s Economic Crisis: The country has faced a severe Forex shortage since 2022, leading to a shortage of essential imports, which worsened the nation’s economic situation.

International Monetary Fund (IMF):

• Headquarters: Washington, D.C., United States.
• Managing Director: Kristalina Georgieva

About srilanka

Capital: Colombo

India Expresses Concern on Climate Finance and Mitigation Issues at CoP29

India has expressed its dissatisfaction with the lack of engagement by developed countries on critical issues such as climate finance and the Mitigation Work Programme (MWP) during the CoP29 conference held in Baku, Azerbaijan. India delivered a statement at the closing plenary of the Subsidiary Bodies on the Sharm el-Sheikh Mitigation Ambition and Implementation Work Programme (MWP), highlighting key concerns over the progress made at the summit.

Key Points:

• Concerns over Developed Countries’ Position: India criticized the developed countries for requesting the inclusion of mitigation paragraphs from the Global Stocktake at CoP28 into the MWP, which was contrary to previously agreed terms. This move was seen as an attempt to shift the goalposts on climate action.
• India’s Statement at CoP29: India expressed serious concern over the lack of progress at CoP29, noting that critical issues for developing countries remain unresolved. India emphasized that these countries, which contribute the least to climate change, are facing the worst impacts but have limited capacity to address or adapt to these challenges.
• Call for Action: India underscored the need for greater accountability from countries with the highest capacity to take climate action, highlighting their disproportionate consumption of the global carbon budget and delay in taking meaningful steps.

PM Modi Lauds Marathi Community in Nigeria for Cultural Connection

Prime Minister Narendra Modi has praised the Marathi community in Nigeria for staying connected to their culture and roots. During his visit to Abuja, the Indian community in Nigeria gave a warm and vibrant welcome to the Prime Minister.

Key Points:

• Cultural Pride: PM Modi appreciated the Marathi community for their strong ties to their heritage and culture, highlighting their pride in their linguistic and cultural identity.
• Classical Language Status for Marathi: The Marathi community in Nigeria expressed their joy over the Marathi language being granted the prestigious Classical Language status in India. This recognition is seen as a significant achievement for the Marathi-speaking population worldwide.
• Warm Welcome: Upon his arrival in Abuja, the Indian community gave PM Modi a heartfelt reception, showcasing their enthusiasm and support for his leadership.

Gujarat Launches Semiconductor Policy 2022-2027, Becomes First State with Dedicated Policy

Gujarat has taken a significant step towards semiconductor self-reliance by launching the ‘Gujarat Semiconductor Policy 2022-2027’ under the leadership of Chief Minister Bhupendra Patel. With this initiative, Gujarat becomes the first Indian state to implement a dedicated semiconductor policy, aiming to boost the state’s leadership in semiconductor manufacturing and electronic innovation.

Key Points:

• Semiconductor Policy: The Gujarat Semiconductor Policy 2022-2027 focuses on advancing Gujarat’s position in the semiconductor industry by creating a conducive environment for semiconductor manufacturing and related technologies.
• Gujarat State Electronics Mission: To oversee the policy’s implementation, the state has established the ‘Gujarat State Electronics Mission’, a dedicated institution for promoting semiconductor self-reliance and enhancing Gujarat’s role in the electronics ecosystem.
• Market Growth: India’s semiconductor market, valued at USD 15 billion in 2020, is projected to grow exponentially, reaching over USD 63 billion by 2026, highlighting the increasing demand and strategic importance of the sector.

About Gujarat:

• Chief Minister: Bhupendra Patel
• Governor: Acharya Devvrat
• Capital: Gandhinagar
• National Parks: Gir National Park, Vansda National Park

DEFENCE NEWS

3rd Edition of India-Australia Joint Military Exercise “AUSTRAHIND-24” Held in Pune

The 3rd edition of the India-Australia joint military exercise, AUSTRAHIND-24, is currently being conducted at the Foreign Training Node in Pune, Maharashtra, from November 8 to November 21, 2024. The exercise aims to further strengthen the military cooperation between India and Australia, enhancing their joint operational capabilities, particularly in unconventional operations.

Key Points:

• Purpose of the Exercise: AUSTRAHIND-24 focuses on improving interoperability between the Indian and Australian forces, with an emphasis on joint unconventional operations.
• Background of AUSTRAHIND:
  • Inception: The exercise began in 2022 at Mahajan Field Firing Ranges in Rajasthan. It is held alternately in India and Australia each year.
  • The previous edition was conducted in Perth, Australia, in December 2023.
• About AUSTRAHIND-2024:
  • Environment: This year’s exercise takes place in a semi-urban, semi-desert environment, simulating conditions for UN peacekeeping operations under Chapter VII of the United Nations mandate.
  • Focus Areas: The exercise will emphasize joint physical fitness, planning, and tactical coordination between the two forces.

Participants:

• Indian Contingent:
  • 140 personnel, mainly from the DOGRA Regiment of the Indian Army (IA), along with 14 members from the Indian Air Force (IAF).
• Australian Contingent:
  • 120 personnel, primarily from the 13th Light Horse Regiment of the 10th Brigade, 2nd Division of the Australian Army.

About Australia:

• Prime Minister: Anthony Albanese
• Capital: Canberra
• Currency: Australian Dollar (AUD)

Banking news

Jio Financial Services Launches “Smart Gold” Digital Investment Platform

Mumbai-based Jio Financial Services Limited (JFSL), a non-deposit taking Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI), has launched its new digital gold investment platform, “Smart Gold”. This platform, accessible through the JioFinance application, allows customers to invest in 24-Karat physical gold with a minimum investment of Rs 10.

• RBI Approval: JFSL has received approval from the Reserve Bank of India to operate as an Online Payment Aggregator (PA).

Key Features of Smart Gold:

1. Gold Investment Flexibility:
2. Customers can buy, sell, or redeem gold holdings for either cash or physical gold (coins and jewelry), providing a seamless investment experience.
3. Investments can be made in rupee denominations or in grams (gms), offering flexibility.
4. Security & Transparency:
5. The physical gold purchased by customers will be procured and stored in insured vaults, ensuring security.
6. Customers can track the live market price of gold on the JioFinance app, ensuring transparency in their investments.
7. Physical Gold Delivery:
8. Physical gold delivery is available for holdings as small as 0.5 grams. The available denominations include 0.5 gm, 1 gm, 2 gm, 5 gm, and 10 gm.

About Jio Financial Services Limited (JFSL):

• Established : July 22, 1999
• Chief Executive Officer (CEO): Hitesh Kumar Sethia.
• Headquarters: Mumbai, Maharashtra.

Mahindra Finance and RBL Bank Launch Co-branded Credit Card

Mahindra & Mahindra Financial Services Limited (Mahindra Finance) has partnered with RBL Bank Limited to launch their first-ever co-branded credit card. This initiative is designed to meet the aspirational needs of Mahindra Finance’s customers, providing them with a range of benefits tailored to their financial needs.

Key Highlights:

• First Co-branded Credit Card: This is the first co-branded credit card offering by Mahindra Finance in collaboration with RBL Bank.
• Wide Range of Benefits: The new credit card aims to provide unmatched benefits across various categories, ensuring value for customers.
• Focus on E-Commerce & Technology: With the rising adoption of e-commerce and technological advancements, especially in non-metro locations, Mahindra Finance plans to tap into the growth potential by offering this solution to a broader customer base.

  Ratnakar Bank Limited (RBL Bank):

• Chairman: Harish M. V.
• Headquarters: Mumbai, Maharashtra, India.
• Established: 1943

Sports news

India to Host WADA GLDF Results Management Training in New Delhi (Nov 19-22, 2024)

India, in collaboration with the World Anti-Doping Agency (WADA), is set to host the Global Learning and Development Framework (GLDF) Results Management Training in New Delhi from November 19-22, 2024. The event is organized by the National Anti-Doping Agency (NADA) India with support from the Japan Sports Agency (JSA) and the Japan Anti-Doping Agency (JADA).

Key Highlights:

• Training Focus: The GLDF Results Management Training will focus on enhancing the technical expertise of anti-doping professionals, particularly in results management, case management, adjudication processes, and the application of the World Anti-Doping Code.
• International Participation: The training will see the participation of anti-doping professionals from over 10 countries including Maldives, Myanmar, Nepal, Malaysia, Thailand, Uzbekistan, Vietnam, Philippines, Brunei, Kyrgyzstan, and Laos. Representatives from WADA, Athletics Integrity Unit (AIU), and the Badminton World Federation (BWF) will also be involved.
• Objective: The goal is to standardize anti-doping procedures, foster international collaboration, and strengthen the global sport integrity framework. The training will focus on building capacity and sharing knowledge among participants, helping to promote clean sport worldwide.

           About  National Anti-Doping Agency (NADA).

•  Director general : Shri Ashish Bhargava,
• Headquarters: New Delhi, India.
• Established: 2005.

Australian Cricketer Matthew Wade Announces Retirement from International Cricket

Matthew Wade, the 36-year-old Australian cricketer, has announced his retirement from international cricket. Following his retirement, Wade will transition to a coaching role as the wicketkeeping and fielding coach for the Australia national team during the upcoming T20 series against Pakistan in November 2024.

Key Highlights:

• Career Stats:
  • 36 Tests: Scored 1,613 runs with four centuries, including a top score of 117 in the 2019 Ashes.
  • 97 ODIs: Amassed 1,867 runs.
  • 92 T20Is: Scored 1,202 runs.
  • Wade has played 225 international matches for Australia across all formats.
• Leadership Role: Wade served as the T20 captain for Australia between December 2020 and February 2024, leading the team for a significant period in the shortest format.

Jyothi Surekha Wins Gold in Women’s Compound Event at GT Open

Jyothi Surekha Vennam, the reigning Asian Games champion, clinched the gold medal in the women’s compound event at the GT Open held in Luxembourg.

Key Highlights:

• Jyothi Surekha dominated the competition, securing the title with a 147-145 victory over Sarah Prieels of Belgium.
• This was Jyothi’s debut at the GT Open, and she showcased her exceptional skills throughout the tournament.
• In the men’s compound event, Abhishek won the silver medal, narrowly missing out on gold. Despite scoring a perfect 150, he was defeated by Mike Schlosser of the Netherlands, who also scored a perfect shot in the final.

Appointment news

Amandeep Johl Appointed as CEO of Professional Golf Tour of India (PGTI)

Amandeep Johl has been appointed as the new Chief Executive Officer (CEO) of the Professional Golf Tour of India (PGTI). He will officially take over the role starting January 2025.

Key Highlights:

• Amandeep Johl is a well-respected figure in Indian golf, known for his significant contributions to the sport.
• He brings a wealth of experience to his new leadership role, which will involve overseeing the operations and growth of the PGTI.
• Johl’s appointment marks an important step as the PGTI continues to strengthen its position in the Indian golfing landscape.

   Professional Golf Tour of India (PGTI):

• Chairman: Kapil Dev
• Headquarters: New Delhi, India.
•  Established: 2006.

                                             OBITUARY

Nation Remembers Lala Lajpat Rai on 96th Death Anniversary

November 17 th , the nation is paying tribute to Lala Lajpat Rai, also known as Punjab Kesari, on the occasion of his 96th death anniversary. Lala Lajpat Rai, a prominent freedom fighter, passed away after sustaining severe head injuries from a baton charge by the British police while leading a peaceful protest against the Simon Commission.

Key Points:

• Lala Lajpat Rai’s Legacy: Lajpat Rai was a key member of the Lal Bal Pal trio, which also included Bal Gangadhar Tilak and Bipin Chandra Pal. These three leaders were central figures in the Indian freedom struggle and played a crucial role in advocating for nationalism and self-rule.
• Tribute Ceremony: A tribute ceremony was held at Lala Lajpat Rai’s native village, Dhudikey, in the Moga district of Punjab, where several leaders and citizens gathered to honor his sacrifice.
• Harpal Singh Cheema’s Tribute: Punjab Cabinet Minister Harpal Singh Cheema was among those who paid their respects to the martyr.

National news

NITI Aayog’s WEP Partners with Urban Company to Empower Women MSMEs in Beauty and Wellness

NITI Aayog’s Women Entrepreneurship Platform (WEP) has partnered with Urban Company to launch a pilot program supporting women-owned MSMEs in the beauty and wellness sector. The initiative aims to help women entrepreneurs who own local salons and parlors by providing training in six key areas: skilling, legal and compliance, access to finance, market development, business services, and mentorship.

Anna Roy, Principal Economic Adviser at NITI Aayog, emphasized that this collaboration is a crucial step towards building a strong ecosystem for women in the sector, helping them create sustainable businesses.

MSME :  Micro, Small, and Medium Enterprises

• Head : jitan Ram Manjhi:
• Head quarter: Udyog Bhawan, Rafi Marg, New Delhi
• Established : 2007

NITI National Institution for Transforming India: 

• established :  January 1, 2015
• Chairperson: PM. Narendra modi

Prime Minister Shri Narendra Modi Addresses Hindustan Times Leadership Summit 2024 in New Delhi

Prime Minister Shri Narendra Modi addressed the Hindustan Times Leadership Summit 2024 in New Delhi, where he congratulated the Hindustan Times (HT) on its historic 100-year journey. He acknowledged the newspaper’s pivotal role in documenting India’s freedom struggle and post-independence journey. During his speech, the Prime Minister highlighted the contributions of prominent figures like Martin Luther King, Netaji Subhas Chandra Bose, and Atal Bihari Vajpayee, who had written for HT.

Shri Modi reflected on key moments in India’s history, such as the merger of Kashmir with India in 1947 and the subsequent challenges. He expressed satisfaction at the record voter turnout in recent Jammu and Kashmir elections. The Prime Minister also shared a special memory of a HT newspaper print from the past, juxtaposing news about Assam being a disturbed area with Atal Bihari Vajpayee laying the foundation for the Bharatiya Janata Party (BJP).

 About Hindustan Times (HT)

• established :  1924.
• headquarters :  New Delhi, India
• CEO OF HT: Shobhana Bhartia 

                                                  INTERNATIONAL NEWS

Historic Inauguration of First Trilateral Power Transaction from Nepal to Bangladesh via Indian Grid

The first-ever trilateral power transaction from Nepal to Bangladesh via the Indian grid was inaugurated 16 th november. Power Minister Manohar Lal, Fouzul Kabir Khan (Adviser, Bangladesh Ministry of Power), and Dipak Khadka (Nepal’s Minister of Energy) participated in the virtual inauguration. This landmark event marks the beginning of a new era of sub-regional energy cooperation.

The initiative, which was announced during the visit of Nepal’s former Prime Minister Pushpa Kamal Dahal to India, involves the export of up to 40 MW of power. A tripartite agreement between NTPC Vidyut Vyapar Nigam, Nepal Electricity Authority, and Bangladesh Power Development Board was signed on October 3 to formalize the deal. The new power flow is expected to enhance regional connectivity and promote mutual economic benefits.

 About Nepal:

• President: Ram Chandra Paudel
• Capital: Kathmandu
• Currency: Nepalese Rupee (NPR)

About  Bangladesh :

• President: Mohammad Shahabuddin
• Capital: Dhaka
• Currency: Bangladeshi Taka (BDT)

BDT Launches Compliance-Cum-Awareness Campaign for AY 2024-25

The Central Board of Direct Taxes (CBDT) has launched a Compliance-Cum-Awareness Campaign for Assessment Year (AY) 2024-25 to help taxpayers accurately complete Schedule Foreign Assets (FA) and report foreign income in their Income Tax Returns (ITR). Compliance with Schedule FA and Schedule FSI is mandatory under the Black Money Act, which requires full disclosure of foreign assets and income.

The campaign includes sending informational messages via SMS and email to taxpayers who may have foreign accounts or assets, or income from foreign sources, based on data from bilateral and multilateral agreements. This effort aims to guide taxpayers in completing these schedules, particularly for high-value foreign assets.

The initiative aligns with the government’s vision of Viksit Bharat and focuses on using technology to simplify compliance and reduce human interaction. The CBDT encourages taxpayers to visit the official Income Tax Department website for detailed guidance on completing Schedule FA.

Central Board of Direct Taxes (CBDT):

• Headquarter:  New Delhi, India.
  • Chairman : Shri Ravi Agrawal
  • Established: 1 January 1964

                                                BANKING NEWS

IBBI Collaborates with IBA for Asset Auction via eBKray Platform

The Insolvency and Bankruptcy Board of India (IBBI) has partnered with the Indian Banks’ Association (IBA) to facilitate the auction of assets under the liquidation process through the eBKray platform. The platform is currently managed by PSB Alliance Private Limited, a consortium of 12 Public Sector Banks (PSBs).

Key Points:

• The collaboration aims to enhance the asset auction process under the insolvency and bankruptcy framework.
• A circular issued by IBBI, under Section 196 of the Insolvency and Bankruptcy Code (IBC 2016), makes this initiative official.
• The platform will come into effect from 1st November 2024.
• Initially, the platform will operate in pilot mode, with improvements to be made based on user feedback. A full roll-out will be announced later.

About IBBI:

• Chairman: Ravi Mittal
• Headquarters: New Delhi,
• Established: 2016

                                             ECONOMIC NEWS

SBI Projects India’s GDP Growth at 6.5% for Q2 FY25

According to the State Bank of India (SBI)‘s latest report, India’s Gross Domestic Product (GDP) is expected to grow by around 6.5% in the 2nd Quarter (Q2: July-September) of Financial Year 2024-25 (FY 25). This is 50 basis points (bps) lower than the Reserve Bank of India (RBI)‘s estimate of 7% for Q2FY25.

Key findings from the report:

• Q3 and Q4 Projections: SBI estimates that India’s GDP growth in Q3 and Q4 of FY25 will be closer to 7%.
• Leading Indicators: The report monitored 50 leading indicators across sectors like consumption, demand, agriculture, industry, and services, showing a decline in Q2FY25 compared to previous quarters.
• The percentage of indicators showing acceleration dropped to 69% in Q2FY25, compared to 80% in Q2FY24 and 78% in Q1FY25.
• Rural vs. Urban Demand: The report highlighted the growth in rural demand, with 85% of rural indicators showing acceleration, while urban demand showed a slower pace, with only 73% of urban indicators showing acceleration (as of September 2024)

State Bank of India

• Established: 1st July 1955
• Headquarters: Mumbai, Maharashtra, India
• Tagline:  “The Banker to Every Indian”
• Chairman: Dinesh Kumar Khara

                                                APPOINTMENT NEWS

FM Nirmala Sitharaman Congratulates Tulsi Gabbard on Appointment as U.S. Director of National Intelligence

Union Finance Minister Nirmala Sitharaman congratulated Tulsi Gabbard on her appointment as the Director of National Intelligence (DNI) in the United States. In a social media post, Sitharaman praised Gabbard for her 21 years of service in the U.S. Army Reserve, where she rose to the rank of Lt. Colonel. Sitharaman expressed her admiration for Gabbard’s clarity of thought and dedication, wishing her the best in her new role.

Anurag Srivastava Appointed as India’s Next High Commissioner to Mauritius

Anurag Srivastava, a 1999-batch Indian Foreign Service (IFS) officer, has been appointed as India’s next High Commissioner to Mauritius. The announcement was made by the Ministry of External Affairs (MEA) on Saturday.

This appointment underscores the deep historical, cultural, and demographic ties between India and Mauritius. The two nations share a strong and longstanding relationship, marked by high-level political engagement and cooperation across various sectors. Srivastava’s new role highlights India’s commitment to further strengthening this bond with Mauritius, an important partner in the Indian Ocean region.

 Minister of External Affairs :  Dr. S. Jaishankar.

• headquarters : New Delhi, India.
• established : 1947

About Mauritius:

• President: Prithvirajsing Roopun
• Capital: Port Louis
• Currency: The Mauritian rupee 

RANKING AND REPORT

Mukesh Ambani in 1st Fortune 100 Most Powerful People in Business List

Fortune magazine has released its inaugural 100 Most Powerful People in Business list, with Elon Musk, CEO of Tesla and SpaceX, ranked 1st. Indian business magnate Mukesh Ambani is ranked 12th on the list. The list highlights global business leaders from various industries, including six Indian-born Americans such as Satya Nadella (Microsoft CEO, 3rd), Sundar Pichai (Alphabet CEO, 10th), and Shantanu Narayen (Adobe CEO, 52nd).

The highest-ranked woman on the list is Mary Barra, CEO of General Motors, who holds the 9th position. The Fortune 100 includes leaders across 40 industries, representing a wide range of business innovation, from established giants to new disruptors like Elon Musk. The list underscores the growing influence of Indian-origin leaders in the global business landscape.

                                                   IMPORTANT NEWS

National Press Day Celebrated to Honor Press Freedom and Responsibility

National Press Day is being observed 16 th November  to recognize the vital role of a free and responsible press in Indian society. On this day in 1966, the Press Council of India (PCI) began its operations as a moral watchdog to ensure high standards of journalism and protect the press from undue influence.

The day highlights the achievements of the press while emphasizing its responsibility in fostering a transparent and informed society. Activities include the National Awards for Excellence in Journalism and the release of a Souvenir. Union Minister for Information and Broadcasting, Ashwini Vaishnaw, will address the celebrations in New Delhi. This year’s theme, “Changing Nature of the Press”, focuses on the evolving dynamics of media in India.

The Press Council of India has played a significant role in maintaining press freedom and ethical standards. Established as an autonomous, statutory body on July 4, 1966, the PCI resolves issues related to press violations and advocates for media responsibility, especially during national crises. It has also conducted important studies on election coverage, defense reporting, and journalist safety, contributing to the development of media standards in India.

Press Council of India:

• Chairperson : Justice Ranjana Prakash Desai 
• established in 1966

NATIONAL NEWS

Pralhad Joshi Lauds Sudarsan Pattnaik’s Sand Art Honoring 200 GW Renewable Energy Milestone:

Union Minister for New and Renewable Energy, Pralhad Joshi, has praised the renowned sand artist Sudarsan Pattnaik for his stunning artwork created at Puri Beach, Odisha, to commemorate India’s achievement of reaching 200 Gigawatts (GW) in Renewable Energy capacity.

• This milestone highlights India’s significant progress in the renewable energy sector and is a key step toward achieving the nation’s ‘Panchamrit’ commitment set by Prime Minister Narendra Modi. The Panchamrit goal is part of India’s broader strategy to address climate change, reduce carbon emissions, and expand the use of clean energy sources.
• Mr. Joshi shared the artwork on his official X (formerly Twitter) handle, emphasizing the importance of this remarkable achievement in the context of India’s efforts to combat climate change and transition to sustainable energy. The 200 GW milestone was achieved on October  reflecting the country’s growing leadership in the global renewable energy movement. This celebration through art highlights the integration of culture and progress in India’s green energy transition.

  About  Odisha:

• Capital: Bhubaneswar
• Chief Minister: Naveen Patnaik
• Governor : sri Ragubhar das

43rd IITF Begins at Bharat Mandapam with Theme ‘Viksit Bharat 2047’

The 43rd India International Trade Fair (IITF) is being held at Bharat Mandapam in New Delhi. The 14-day fair was inaugurated by Commerce and Industry Minister Piyush Goyal with the theme “Viksit Bharat 2047”, highlighting the vision for a developed India by 2047.

• Focus State for this year’s fair is Jharkhand, with Bihar and Uttar Pradesh as partner states.
• The event hosts over 3,500 exhibitors from India and abroad, and is expected to attract nearly 100,000 visitors daily, making it one of the largest trade fairs in South Asia.
• The business days are currently ongoing, and the fair will be open to the public from November 19 to 27, 2024.
• Free tickets are available for senior citizens and the differently-abled through DMRC metro stations, the Bharat Mandapam Mobile App, and the ITPO’s official website.

        About  India International Trade Fair:

• Established: 1979
• Headquarters: New Delhi, India

About  India Trade Promotion Organisation

• Established: 1992
• Headquarters: New Delhi, India
• Chairman & Managing Director (CMD) of ITPO: Shri Rajeev K. Chawla

President Murmu Extends Prosperity Wishes on Baliyatra & Boit Bandan; Highlights Odisha’s Maritime Heritage

President Droupadi Murmu extended her warm wishes and prayers for the happiness and prosperity of the people of India on the occasion of the historic Baliyatra festival and Boit Bandhan. In a social media post, President Murmu celebrated the cultural significance of these events, which are an integral part of Odisha’s rich traditions.

• The Baliyatra festival, celebrated annually in Odisha, commemorates the historic maritime trade routes that connected India with Southeast Asia and beyond. Boit Bandhan is a significant tradition associated with this festival, where people pay homage to the sea and those who embark on voyages.
• In her message, President Murmu emphasized the importance of Odisha’s contribution to India’s maritime heritage, noting that the state’s rich history of sea trade has played a pivotal role in shaping India’s cultural and economic ties with the world. She further reflected on how drawing inspiration from India’s glorious past can help in building a developed India.

PM Modi to Inaugurate 1st Bodoland Mahotsav, Celebrating Culture, Peace, and Harmony

Prime Minister Narendra Modi will inaugurate the 1st Bodoland Mahotsav in New Delhi on 15 th november. The two-day event will focus on celebrating the language, literature, and culture of the Bodo community, with the aim of fostering peace and building a vibrant Bodo society. The Mahotsav will also highlight the cultural and linguistic heritage, ecological biodiversity, and touristic potential of the Bodoland Territorial Region.

• The theme of the event is ‘Peace and Harmony for Prosperous Bharat’, emphasizing the importance of unity and integration among the Bodo people living in Bodoland, Assam, West Bengal, Nepal, and other Northeast India border areas. The event also marks the progress made since the Bodo Peace Accord in 2020, which resolved decades of conflict and violence in the region.
• Over 5,000 cultural, linguistic, and art enthusiasts from the Bodoland region and other states will attend the event, celebrating the resilience and recovery of the community post-accord.

India’s Exports Grow 7.28% in April-October 2024, Driven by Merchandise and Service Exports

India’s exports saw a strong growth of 7.28% during April-October 2024, reaching a total value of 468.27 billion dollars, compared to 436.48 billion dollars during the same period in 2023.

• According to the Ministry of Commerce & Industry, merchandise exports contributed 252.28 billion dollars, marking a growth of 3.18% compared to last year’s (2023) 244.51 billion dollars.
• On the other hand, service exports performed exceptionally well, with an estimated value of 215.98 billion dollars during this period, reflecting a significant increase of over 12% from 191.97 billion dollars in 2023. This growth highlights India’s strong export performance in both goods and services sectors.

Ministry of Commerce & Industry, merchandise exports: Piyush Goyal

President Murmu, VP Dhankhar, and PM Modi Extend Greetings on Guru Nanak’s Prakash Parv:

On the occasion of Sri Guru Nanak Jayanti, President Droupadi Murmu, Vice-President Jagdeep Dhankhar, and Prime Minister Narendra Modi extended their greetings to the nation.

• President Murmu praised Guru Nanak Dev Ji for guiding people on the path of spirituality, emphasizing values like hard work, truth, contentment, kindness, and love. She highlighted his message of Sanjhi-Valta, a path to social harmony, and urged people to adopt his ideals for building a harmonious society.
• Vice-President Dhankhar encouraged people to reaffirm their commitment to Guru Nanak Dev Ji’s teachings, urging a rededication to the principles of truth, harmony, and unity of all beings.
• Prime Minister Modi expressed hope that the teachings of Guru Nanak Dev Ji would inspire compassion, kindness, and humility, motivating individuals to serve society and work towards a better planet.

International news

EAM Dr. S. Jaishankar Inaugurates Symbiosis International University’s First Overseas Campus in Dubai

External Affairs Minister Dr. S. Jaishankar inaugurated Symbiosis International University’s first overseas campus at Dubai Knowledge Park, marking a key milestone in Indo-UAE relations. The ceremony was attended by Sheikh Nahyan bin Mubarak Al Nahyan, UAE’s Minister of Tolerance and Coexistence.

• Dr. Jaishankar celebrated the campus’s full accreditation by the UAE’s Commission for Academic Accreditation, highlighting its focus on management, technology, and media programs aimed at developing 21st-century skills. He emphasized the alignment with India’s National Education Policy 2020, which encourages international expansion of Indian institutions and boosts educational cooperation with the UAE.
• This campus marks a significant step in strengthening educational ties between India and the UAE, benefiting over 300,000 Indian students in the region. The initiative is part of broader efforts to promote collaboration in AI, clean energy, and sustainable development.
• Sheikh Nahyan highlighted the UAE’s commitment to fostering a knowledge-based economy and the importance of education in promoting understanding, peace, and progress. The new campus will serve Dubai’s diverse expatriate community, supporting Dubai’s Economic Agenda 33, which focuses on human capital and education sector development.

            United Arab Emirates :

• Capital: Abu Dhabi
• Currency: UAE Dirham (AED)
• President: Sheikh Mohamed bin Zayed Al Nahyan

GABV Member Banks Endorse Fossil Fuel Non-Proliferation Treaty at COP29 in Baku

At the COP29 climate summit in Baku, Azerbaijan, 25 member banks of the Global Alliance for Banking on Values (GABV) collectively endorsed the Fossil Fuel Non-Proliferation Treaty initiative. This marks the first such collective endorsement by financial institutions. The Fossil Fuel Non-Proliferation Treaty proposes a global binding plan to halt the expansion of coal, oil, and gas projects, aiming to manage the transition away from fossil fuels.

• By endorsing the treaty, these GABV members are urging the financial sector to stop financing the expansion of fossil fuels, in alignment with the fight against climate change. The GABV, founded in 2009, is a network of 70 sustainable banks managing 117 billion dollars in assets and serving over 11.3 million people globally.
• COP29, often called the “Finance COP”, serves as a critical moment for wealthier nations to fund efforts to combat climate devastation. The summit, attended by 200 countries and key stakeholders, will run until November 22nd.

Global Alliance for Banking on Values (GABV):

• Headquarters:  Amsterdam, Netherlands
• Chairman: Peter Blom

                                                       Banking news

IDFC First Bank Launches Real-Time Tracking for International Money Transfers

IDFC First Bank, based in Mumbai, has partnered with SWIFT (Society for Worldwide Interbank Financial Telecommunication) based in La Hulpe, Belgium, to introduce a new feature that allows customers to track international money transfers in real-time. This makes IDFC First Bank the first Indian bank to offer live tracking for cross-border transactions, available via the bank’s mobile app and internet banking platforms.

Key features of the service:

• Provides updates on the status of funds, including whether they are in transit or credited to the recipient’s bank.
• Sends alerts for issues like incorrect recipient details, helping customers resolve problems quickly.
• Integrated with SWIFT Global Payments Innovation (GPI) to meet customer demands for transparency.
• Offered for free under the bank’s “Pay Abroad” feature, with no additional processing fees.

The service applies to transactions allowed under the Reserve Bank of India’s (RBI) Liberalised Remittance Scheme (LRS), including purposes such as supporting relatives, education, medical needs, and investment in overseas property or stocks.

About IDFC First Bank Limited:

  IDFC First Bank Limited

• Headquarters: Mumbai, Maharashtra, India
• Founded: 2015
• Managing Director & CEO: V. Vaidyanathan
• Tagline: “Banking for All”

World Bank Approves USD 200 Million Loan for Kerala’s Agricultural Sector under KERA Project

The World Bank (WB) has approved a USD 200 million (Rs 1,655.85 crore) loan to support Kerala’s agricultural sector through the Kerala Climate Resilient Agri-Value Chain Modernization (KERA) Project. The loan is provided by the International Bank for Reconstruction and Development (IBRD) with a 23.5-year term and a 6-year grace period.

Key Points:

• The KERA Project aims to promote climate-smart practices among farmers, enhance market access, and support women-led small businesses in agriculture.
• The Kerala state government will contribute Rs 709.65 crore to the project, while the World Bank provides Rs 1,655.85 crore (USD 200 million).
• Kerala, a major producer of spices like cardamom, vanilla, and nutmeg, accounts for around 20% of India’s agri-food exports.

The KERA project will benefit 400,000 farmers directly through initiatives focused on climate resilience, with an additional 1 million farmers expected to benefit indirectly. Key crops like coffee, cardamom, and rubber will be replanted with climate-resistant varieties, and farmers will receive training to manage climate challenges like floods and forest fires.

 The World Bank Group :

• Headquarters: Location: Washington, D.C., United States
• Established: Year: 1944
• Tagline: “Working for a World Free of Poverty”
• President: Ajay Banga

SBI Seeks $1.25 Billion Loan, Largest Dollar-Denominated Loan from India in 2024

The State Bank of India (SBI) is seeking a $1.25 billion five-year loan, which would be the largest dollar-denominated loan from India’s financial sector in 2024. The loan, arranged by CTBC Bank, HSBC, and Taipei Fubon Bank, will be utilized for general corporate purposes.

• This move is part of a broader trend where Indian financial institutions, especially non-banking finance companies (NBFCs), are increasingly borrowing in foreign currencies due to stricter domestic regulations. Despite this rising demand, the total volume of dollar-denominated loans in India has seen a 27% decline this year.

RBI Introduces Framework for Converting FPI Holdings to FDI

The Reserve Bank of India (RBI) has introduced a new framework allowing Foreign Portfolio Investors (FPIs) to convert their holdings exceeding the 10% equity threshold in Indian companies into Foreign Direct Investment (FDI).

Key features:

• The framework simplifies the process for FPIs to align with FDI guidelines, provided they obtain necessary government and company approvals.
• The new rules, effective from November 11, 2024, allow FPIs to reclassify their excess shares within five trading days.
• The conversion ensures compliance with the Foreign Exchange Management Act (FEMA) and sectoral FDI caps.

 Reserve Bank of India

• Headquarters:  Mumbai, Maharashtra, India
• Established:     Year: 1935
• Tagline: “Aaykar Seva, Desh Ki Seva”
• Governor:  Shaktikanta Das

                                        Awards and Recognition

SBI Named Best Bank in India for 2024 by Global Finance Magazine

State Bank of India (SBI) has been recognized as the Best Bank in India for 2024 by Global Finance Magazine at its 31st Annual Best Bank Awards. The award was presented during the IMF and World Bank Annual Meetings in Washington, USA.

• CS Setty, Chairman of SBI, accepted the award in acknowledgment of the bank’s exceptional services and its role in promoting financial inclusion across India.
• The Global Finance Best Bank Awards are a prestigious recognition, setting the standard for evaluating global financial institutions.

This honor reflects SBI’s leadership in the banking sector and its ongoing commitment to earning customer trust and advancing financial accessibility.

State Bank of India

• Established: 1st July 1955
• Headquarters: Mumbai, Maharashtra, India
• Tagline:  “The Banker to Every Indian”
• Chairman: Dinesh Kumar Khara

                                               Important   days

World Pneumonia Day 2024: Raising Awareness on Preventing Pneumonia

World Pneumonia Day is observed annually on November 12 to raise awareness about pneumonia, a respiratory illness that primarily affects young children under the age of five and vulnerable elderly individuals.

• Theme for 2024: “Every Breath Counts: Stop Pneumonia in Its Track.”
• The first World Pneumonia Day was observed on November 12, 2009, initiated by the Global Coalition against Child Pneumonia, which includes UNICEF, WHO, and Save the Children.
• The campaign focuses on raising awareness about pneumonia, which remains the leading cause of child mortality worldwide, despite being preventable and treatable.

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