Daily Current Affairs – November 01 & 02, 2023
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Daily Current Affairs - Banking - November 01 & 02, 2023
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National News
Workshop on Customized Debt Financing for Commercial Mining, Mine Developers and Operators
- REC Limited, Ministry of Power, hosted a workshop on ‘Customized Debt Financing for Commercial Mining & MDOs (Mine Developers and Operators)’ at Hotel Oberoi, New Delhi.
- The workshop agenda was structured to offer a comprehensive understanding of customized debt-financing solutions and as a platform to share knowledge and explore innovative ways of financing that can further drive the growth and development of this crucial sector.
- The workshop featured presentations from REC and the Mining agencies, highlighting their unique perspectives on financing challenges and opportunities within the mining sector.
- The workshop provided an opportunity for presentation of both lenders’ and borrowers’ perspectives, followed by open forum discussion, in which queries of Mining Developers were addressed.
- REC Limited (Rural Electrification Corporation Limited) – 25/07/1969 (Founded) – New Delhi (HQ) – Vivek Kumar Dewagan (CMD)
Iconic 'Throne Room' at Raj Bhavan in Kolkata named after Sardar Patel
- The iconic British-era ‘Throne Room’ at the Raj Bhavan in Kolkata has been named after Sardar Vallabhbhai Patel, the first Deputy Prime Minister and Home Minister of Independent India.
- The ‘Throne Room’, as the name suggests, has a collection of thrones of iconic historical personalities such as Lord Wellesley and Tipu Sultan, among others.
- The room contains a collection of oil paintings of Mahatma Gandhi, Subhas Chandra Bose, Jawaharlal Nehru, and former West Bengal Chief Minister B.C. Roy.
- An urn used to carry the ashes of Mahatma Gandhi is also displayed at the ‘Throne Room’.
International News
Workshop on ‘India-AU Collaboration for a Better Inclusive World’
- NITI Aayog organised a workshop on India-AU Collaboration for a Better inclusive World in partnership with the Observer Research Foundation (ORF) at the Taj Palace, New Delhi.
- The workshop focused on deliberations to implement the commitments laid out in the New Delhi Leaders’ Declaration (NDLD) which was signed recently concluded G20 Conference.
- The workshop brought together over 50 experts and participants from prominent National and International think tanks, academia, and diplomats from India and the African Union (AU).
- The participants had in-depth discussions on three key themes:
- Indo-AU collaboration for an inclusive world: The participants discussed methodologies to promote inclusive growth and development, reduce poverty and inequality, and ensure that all people have access to basic necessities such as food, water, healthcare, and education.
- Indo-AU collaboration for sustainable and resilient infrastructure: The participants discussed cooperation to develop sustainable and resilient infrastructure, including in the areas of energy, transportation, and water management. They also discussed how to support economic growth and development and make the world more resilient to climate change and other shocks.
- Managing Migration: The role of Indo-AU Partnership: The participants deliberated on managing migration in a safe, orderly, and humane manner. They also discussed the root causes of migration, providing support to migrants and refugees, and combating trafficking in persons.
- African Union (AU) – 09/07/2002 (Founded) – 55 member states & 9 observer states – Azali Assoumani (Chairperson) – Arabic, English, French, Portuguese, Spanish, Swahiliand any other African language
UNESCO’s Creative Cities Network
- Gwalior and Kozhikode from India are among the 55 new cities which have joined the UNESCO Creative Cities Network (UCCN).
- While Gwalior in Madhya Pradesh has made it to the coveted list in the ‘Music’ category, Kozhikode in Kerala has earned the place in the ‘Literature’ category.
- With the latest additions, the UCCN now counts 350 cities in more than a hundred countries, representing seven creative fields: Crafts and Folk Art, Design, Film, Gastronomy, Literature, Media Arts and Music.
- The newly designated Creative Cities are invited to participate in the 2024 UCCN Annual Conference (July 1-5, 2024) in Braga, Portugal, under the theme “Bringing Youth to the table for the next decade”.
- Previous Indian Cities in UCCN list
- Srinagar – Craft and Folk Art
- Chennai – Music
- Mumbai – Film
- Varanasi – Music
- UNESCO Creative Cities Network (UCCN) – 2004 (Launched)
India-assisted development projects in Bangladesh
- Prime Minister Narendra Modi and Bangladeshi Prime Minister Sheikh Hasina jointly inaugurated three India-assisted development projects, including a cross-border rail link, a port rail line and a thermal power plant, in a virtual ceremony.
- The three projects include Akhaura-Agartala Cross-Border Rail Link, Khulna-Mongla Port Rail Line and and unit–2 of the Maitree Super Thermal Power Plant.
- Inauguration of the Agartala-Akhaura Cross Border Rail Link, executed with ₹392.52 crore grant assistance from India, was a historic moment, according to Modi (This is the first rail link between the northeast and Bangladesh).
- The Khulna-Mongla Port Rail Line Project, including construction of about 65 km of broad gauge rail route between Mongla Port and the existing rail network in Khulna at an estimated cost of $388.92 million.
- The Maitree Super Thermal Power Project under Indian Concessional Financing Scheme loan of $ 1.6 billion, is a 1,320 MW Super Thermal Power Plant (MSTPP) located in Rampal in Khulna Division of Bangladesh.
- The project has been implemented by the Bangladesh-India Friendship Power Company (Private) Limited (BIFPCL), which is a 50:50 JV between India’s NTPC Ltd and Bangladesh Power Development Board (BPDB).
- While unit-1 of the project was inaugurated September 2022.
- Bangladesh – Dhaka (Capital) – Taka (Currency) – Mohammed Shahabuddin (President) – Sheikh Hasina (Prime Minister) – Bengali (Language)
12th round of talks on Economic and Technology Cooperation Agreement (ETCA)
- India and Sri Lanka have concluded the 12th round of talks on the Economic and Technology Cooperation Agreement (ETCA) in Colombo, Sri Lanka.
- The delegations from both sides delved into a spectrum of critical areas, including Trade in Goods, Technical Barriers to Trade, and Trade in Services.
- Both sides hailed the progress achieved during the previous discussions, and decided to treat 9 issues as resolved.
- Both sides agreed to continue discussions on matters including apparel quotas and pharmaceutical procurement.
- Emphasizing the need to build upon their achievements, the delegations agreed to remain open to revising their positions in light of new developments.
- The India-Sri Lanka ETCA is being seen as a pivotal move to further enhance bilateral trade between the two countries.
- Both sides acknowledged the huge potential in India and Sri Lanka trade partnership and the possibilities for enhanced economic relations in areas of mutual interest.
- India was Sri Lanka’s largest trading partner with an overall bilateral merchandise trade of 5.45 billion dollars in 2021.
- Sri Lanka – Sri Jayawardenepura Kotte (legislative) Colombo (executive and judicial) (Capital) – Sri Lankan rupee (Currency) – Ranil Wickremesinghe (President) – Dinesh Gunawardena (Prime Minister) – Sinhala & Tamil (Language)
15th India-Singapore Defence Policy Dialogue
- The 15th India-Singapore Defence Policy Dialogue was held at New Delhi.
- Both sides reviewed their existing defence cooperation and agreed to enhance collaboration in service-to-service interactions and bilateral exercises.
- The dialogue was co-chaired by Defence Secretary Giridhar Aramane and Permanent Secretary (Defence), Singapore, Chan Heng Kee.
- Both sides reaffirmed their commitment to fully implement the ‘Strategic Partnership’ based on mutual trust and understanding, common interests and shared values of democracy and rule of law
- Singapore – Singapore City (Capital) – Singapore dollar (Currency) – Tharman Shanmugaratnam (President) – Lee Hsien Loong (Prime Minister) – Malay (Language)
State News
Keraleeyam festival
- Kerala Chief Minister Pinarayi Vijayan inaugurated the week-long Keraleeyam festival that seeks to shed light on the richness of the State’s ethnic traditions, showcase the complexity of its evolution as a modern State and simultaneously present a marker of the polity’s promising future as a knowledge-based economy.
- The seven-day-long jamboree would provide an immersive experience that celebrates Kerala’s history and political transformation and illuminate modernity’s impact on the State.
- Kerala – Thiruvananthapuram (Capital) – Pinarayi Vijayan (CM) – Arif Mohammad Khan (Governor) – Malayalam (Language)
Banking and Finance
UPI transaction in October 2023
- Unified Payments Interface (UPI) transactions saw their highest-ever value in October, touching ₹17.16 trillion, up 9% compared to ₹15.8 trillion in September.
- In volume terms, too, transactions touched a new high at 11.41 billion, up 8% compared to 10.56 billion in September.
- According to data shared by the National Payments Corporation of India (NPCI), this is 56% higher in volume terms compared to 7.30 billion in October 2022 and 42% higher in value terms compared to ₹12.12 trillion last year.
- The Immediate Payment Service (IMPS) transaction volume was seen at 493 million in October, up 4% compared to 473 million in September.
- In value terms, this was up 6 per cent during the month to ₹5.38 trillion versus ₹5.07 trillion in September 2023.
- This was a 2% growth in volume terms and 15% in value terms compared to the same period last year.
- In August, IMPS numbers were seen at 489 million in volume and ₹5.14 trillion in value.
HSBC India launched e-bank guarantee services for MSMEs, corporates
- HSBC India has launched electronic bank guarantee services for its MSMEs and corporate clients in association with National E-Governance Services Ltd (NeSL) to replace the conventional time-intensive paper-based bank guarantee.
- The move is aimed to digitise trade and ease the guarantee issuance process digitally with the introduction of e-stamping and e-signing.
- With the new solution, the applicant will be able to instantly view a bank guarantee on the NeSL portal.
- NeSL, under the aegis of the Insolvency and Bankruptcy Code, 2016 serves as a repository of legal evidence holding the information about any debt/claim, as submitted by the financial or operational creditor and verified and authenticated by the parties to the debt.
- The e-guarantees will reduce the transaction cycle time from 2-3 days to a few minutes.
- The e-bank guarantee will also provide secure and swift options and avoid pitfalls of the paper-based guarantee process.
- Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) – 1853 (Founded) – Mumbai (HQ) – Hitendra Dave (CEO)
Business and Economy
GST Collection in October 2023
- The gross GST revenue collected in the month of October, 2023 is ₹1,72,003 crores out of which ₹30,062 crores is CGST, ₹38,171 crores is SGST, ₹91,315 crores (including ₹42,127 crores collected on import of goods) is IGST and ₹12,456 crores (including ₹1,294 crores collected on import of goods) is cess.
- The government has settled ₹42,873 crores to CGST and ₹36,614 crores to SGST from IGST.
- The total revenue of Centre and the States in the month of October, 2023 after regular settlement is ₹72,934 crores for CGST and ₹74,785 crores for SGST.
- The gross GST revenue for the month of October, 2023 is 13% higher than that in the same month last year.
- During the month, revenue from domestic transactions (including import of services) is also 13% higher than the revenues from these sources during the same month last year.
- The average gross monthly GST collection in the FY 2023-24 now stands at ₹1.66 lakh crore and is 11% more than that in the same period in the previous financial year.
Agreements and MoUs signed
India signed MoU with UAE
- India’s Union Education and Skill Development & Entrepreneurship Minister Dharmendra Pradhan signed a comprehensive Memorandum of Understanding (MoU) with Minister of Education for the United Arab Emirates, Dr. Ahmad Al Falasi to fortify existing educational cooperation between the two countries.
- The primary objective of this MoU is to facilitate student and faculty mobility, thus enhancing collaboration in the Education sector.
- The MoU signed during the meeting represents a pivotal step in strengthening educational cooperation between India and the UAE.
- Furthermore, the MoU aims to promote the exchange of critical information in various domains.
- The MoU also paves the way for cooperation in the field of Capacity Development within Technical and Vocational Education and Training (TVET) teaching staff.
- To ensure the seamless implementation of this transformative agreement, the MoU will lead to the creation of a Joint Working Group (JWG) chaired alternately by a representative from the Ministry of Education in India and the UAE.
- United Arab Emirates – Abu Dhabi (Capital) – UAE dirham (Currency) – Mohamed bin Zayed Al Nahyan (President) – Mohammed bin Rashid Al Maktoum (Prime Minister) – Ahmad Nawaf Al-Ahmad Al-Sabah (Prime Minister) – Arabic (Language)
Science and Technology
'Mera Yuva Bharat (MY Bharat)’ platform
- The Prime Minister Narendra Modi launched ‘Mera Yuva Bharat (MY Bharat)’ platform for youth of the country at Kartavya Path on the National Unity Day.
- The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, gave its approval for the establishment of an autonomous body known as “Mera Yuva Bharat (MY Bharat).”
- ‘Mera Yuva Bharat (MY Bharat)’ is envisioned as a pivotal, technology-driven facilitator for youth development and youth-led development, with the overarching goal of providing equitable opportunities to empower the youth in realizing their aspirations and contributing to the creation of a “Viksit Bharat” (developed India), across the entire spectrum of the Government.
- Mera Yuva Bharat (MY Bharat), an autonomous body will benefit the youth in the age group of 15-29 years, in line with the definition of ‘Youth’ in the National Youth Policy.
- The beneficiaries will be in the age-group of 10-19 years.
- Mera Yuva Bharat (MY Bharat) is ‘Phygital Platform’ (physical + digital) comprising physical activity along with an opportunity to connect digitally.
- The primary objective of Mera Yuva Bharat (MY Bharat) is to make it a whole of Government platform dedicated to the advancement of the youth.
Appointments
Executive Director of RBI
- Reserve Bank of India (RBI) has appointed Manoranjan Mishra as Executive Director (ED) with effect from November 01, 2023.
- Prior to being promoted to ED, he was serving as Chief General Manager in the Department of Regulation.
- As Executive Director, Mishra will look after three Departments — Enforcement, Risk Monitoring, and External Investments & Operations.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
South East Asia regional director at WHO
- Bangladesh’s Saima Wazed won the election to become South East Asia regional director at the World Health Organisation in New Delhi against Nepal’s Shambu Prasad Acharya.
- She is the daughter of Bangladesh Prime Minister, Sheikh Hasina, and has extensively worked on autism, updating the country’s public health rules, as well as enacting the Mental Heath Act of 2018 and National Mental Health Strategic Plan for 2020-25.
- The current regional director, India’s Poonam Khetrapal Singh, will hand over the charge to Wazed from February 1 2024.
- World Health Organization (WHO) – 07/04/1948 (Founded) – Geneva, Switzerland (HQ) – Tedros Adhanom (Director-General)
Awards and Recognitions
‘Wildlife Photographer of the Year’
- Vihaan Talya Vikas, a remarkable 10-year-old from Bengaluru, had won the renowned Wildlife Photographer of the Year (WPY).
- The Wildlife Photographer of the Year is an annual global wildlife photography competition held at the Natural History Museum in London, England.
- This event features an exhibition showcasing the winning and commended photographs, which subsequently embarks on a worldwide tour.
- The competition allows photographers to submit a maximum of 25 images each year.
- These submissions can span a spectrum of subjects, from close-up animal portraits to captivating landscapes, groundbreaking photojournalism to innovative photographic techniques.
- Since 2003, the competition has introduced a grand prize awarded to a single image selected from the winning entries across various categories.
- In both the adult and young photographer divisions, the grand prize goes to the photographer producing the most exceptional image.
- The young photographer, aged 17 and under, achieving this honor is bestowed with the title “The Young Wildlife Photographer of the Year,” while the photographer over 17 years of age, creating the best image, earns the prestigious title of “The Wildlife Photographer of the Year.”
Awards of Kerala
- Eminent writer T Padmanabhan has been awarded the prestigious Kerala Jyothi Award for his remarkable contributions to literature
- Retired Justice M Fathima Beevi was selected for her contributions to social service and civil service and Nataraja Krishnamoorthy (known as Surya Krishnamoorthy) was recognised for his accomplishments in the field of arts, both received the Kerala Prabha Award.
- In the realm of social service, Punaloor Somarajan, in healthcare, Dr V P Gangadharan, in industry and commerce, renowned publisher Ravi D C, in civil service, retired civil service officer K M Chandrasekhar, and in the arts, musician Pandit Ramesh Narayan, were selected for the Kerala Shree Award.
- It was in 2021, that the Kerala government made the decision to establish prestigious state-level awards, inspired by the Padma awards, in order to recognise and celebrate the remarkable contributions of individuals across various domains.
- Writer and scholar S.K. Vasanthan has been chosen for this year’s Ezhuthachan Puraskaram, the top prize instituted by the Kerala government in the field of literature and he lives in Thrissur, had won the Kerala Sahitya Akademi Award for scholarly literature for Kerala Samskara Charitra Nighandu in 2007, and the Akademi’s award for overall contributions in 2013.
Azadi Ka Amrit Mahotsav Awards
- Prime Minister Narendra Modi participated in the programme marking the culmination of Meri Maati Mera Desh campaign’s Amrit Kalash Yatra at Kartavya Path in New Delhi.
- He also presented the Azadi Ka Amrit Mahotsav Awards to the top 3 performing States or Union Territories as well as Ministries or Departments.
- The top 3 performing states or union territories are Jammu and Kashmir, Gujarat and Haryana and Rajasthan for the joint third position, while the top 3 performing ministries are Ministry of External Affairs, Ministry of Defence, and Ministry of Railways and Ministry of Education for the joint third position.
2023 British Academy Book Prize
- India-born author Nandini Das has been named the winner of the 2023 British Academy Book Prize for Global Cultural Understanding, a leading international non-fiction prize, for her book ‘Courting India: England, Mughal India and the Origins of Empire’.
- She is a Professor of English literature at the University of Oxford.
- The winning book is her debut and has been described by critics as the “true origin story of Britain and India told through England’s first diplomatic mission to the Mughal courts”.
- The author has sought to present a new perspective on the origins of empire through the story of the arrival of the first English ambassador in India, Sir Thomas Roe, in the early 17th century.
Sports News
Sachin Tendulkar statue at Mumbai’s Wankhede Stadium
- In Maharashtra, a grand statue of Bharat Ratna Sachin Tendulkar was unveiled by Maharashtra Chief Minister Eknath Shinde at Mumbai’s Wankhede Stadium.
- The 22-foot statue, showing the ace batsman hitting a lofted shot, has been designed by Pramod Kamble, a renowned painter and sculptor hailing from the Ahmednagar district of Maharashtra.
- The statue has been placed adjacent to the Sachin Tendulkar Stand.
Mexican grand prix 2023
Position | Player | Team |
1 | Max Verstappen 3rd Consecutive win (2021 & 2022) | Redbull |
2 | Lewis Hamilton | Mercedes |
3 | Charles Leclerc | Ferrari |
Host for FIFA 2034 World Cup
- Saudi Arabia was the only football association to present a bid to host the 2034 FIFA World Cup before the deadline closed.
- FIFA also confirmed that the sole confirmation of interest in hosting the 2030 World Cup came from Morocco, Portugal and Spain with Uruguay, Argentina and Paraguay hosting celebratory games.
- Fédération internationale de football association FIFA (International Association Football Federation) – 21/05/1904 (Founded) – Zurich, Switzerland (HQ) – Gianni Infantino (President)
Important Days
November 1 Foundation day of states/UT
- November 01 is recognized as the formation day of 8 Indian states and 2 Union Territories.
- It includes Andhra Pradesh, Chhattisgarh, Haryana, Punjab, Karnataka, Kerala, Madhya Pradesh and Tamil Nadu, along with the Union Territories of Lakshadweep and Puducherry.
- Andhra Pradesh, Kerala, Karnataka, Madhya Pradesh and Tamil Nadu were formed as separate states in 1956, Punjab and Haryana came into existence in 1966.
- Similarly, Chhattisgarh was carved out as a separate state from Madhya Pradesh in 2002.
- Additionally, the Union Territory of Lakshadweep was formed in 1956 while Puducherry was formed in 1954.
World Vegan Day 2023
- World Vegan Day is annually observed on November 01.
- The day aimed at spreading awareness among people about the advantages of a vegan diet on health and well-being
- The Day began on November 1, 1994, when ‘The Vegan Society’ was founded to encourage veganism and a plant-based diet by a vegan animal rights activist Louise Wallis.
- Theme – Celebrating for a Good Cause
International Day to End Impunity for Crimes against Journalists
- International Day to End Impunity for Crimes against Journalists is annually observed on November 02.
- The United Nations General Assembly proclaimed 2 November as the ‘International Day to End Impunity for Crimes against Journalists’ in General Assembly Resolution A/RES/68/163.
- The date was chosen in commemoration of the assassination of two French journalists in Mali on 2 November 2013.
- United Nations General Assembly – 1945 (Founded) – New York City (HQ) – Dennis Francis (President)
Defence
Ilyushin-38
- The Indian Navy’s Ilyushin-38 Sea Dragon Long Range Maritime Patrol aircraft bid farewell after 46 years of glorious service to the nation.
- The decommissioning ceremony was held on 31 Oct 23 at INS Hansa, Dabolim.
- INAS 315 was commissioned on 01 Oct 1977 with the induction of IL-38 aircraft heralding a modern era of airborne Long Range Maritime Reconnaissance and Anti-Submarine Warfare in the Navy.
- With its unique capabilities, striking prowess and extended reach covering the vast Indian Ocean region, the IL-38 SD has over the years proven itself to be a formidable force multiplier.
- The mighty ‘Winged Stallion’ that adorns the squadron crest has been living up to the squadron motto of ‘Victory is my Profession’, keeping a sharp vigil over and beneath the seas, in its relentless pursuit to secure nation’s maritime boundaries.
- Indian Navy – 26/01/1950 (Founded) – New Delhi (HQ) – Navy Day (December 4) – Admiral R. Hari Kumar (Chief of Naval Staff) – ‘May the Lord of Water be auspicious unto us’ (Motto)
Daily Current Affairs - November 01 & 02, 2023 - Consolidated
- Workshop on Customized Debt Financing for Commercial Mining, Mine Developers and Operators
- Iconic ‘Throne Room’ at Raj Bhavan in Kolkata named after Sardar Patel
- Workshop on ‘India-AU Collaboration for a Better Inclusive World’
- UNESCO’s Creative Cities Network
- India-assisted development projects in Bangladesh
- 12th round of talks on Economic and Technology Cooperation Agreement (ETCA)
- 15th India-Singapore Defence Policy Dialogue
- Keraleeyam festival
- UPI transaction in October 2023
- HSBC India launched e-bank guarantee services for MSMEs, corporates
- GST Collection in October 2023
- India signed MoU with UAE
- ‘Mera Yuva Bharat (MY Bharat)’ platform
- Executive Director of RBI
- South East Asia regional director at WHO
- ‘Wildlife Photographer of the Year’
- Awards of Kerala
- Azadi Ka Amrit Mahotsav Awards
- 2023 British Academy Book Prize
- Sachin Tendulkar statue at Mumbai’s Wankhede Stadium
- Mexican grand prix 2023
- Host for FIFA 2034 World Cup
- November 1 Foundation day of states/UT
- World Vegan Day 2023
- International Day to End Impunity for Crimes against Journalists
- Ilyushin-38
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