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Daily Current Affairs – November 03, 2023

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Daily Current Affairs - Banking - November 03, 2023

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National News

2024 World Telecommunication Standardisation Assembly

  • Union Communication & IT Minister, Ashwini Vaishnaw announced that India is gearing up to host the prestigious World Telecommunication Standardisation Assembly (WTSA) in 2024, marking a significant stride toward the advancement of 5G and 6G networks.
  • Scheduled every four years, the World Telecommunication Standardisation Assembly (WTSA) serves as the governing conference of the ITU Standardisation Sector (ITU-T), a pivotal event within the framework of the International Telecommunication Union (ITU), a specialized agency of the United Nations.
  •  Ministry of Communications – Ashwini Vaishnaw, Cabinet Minister (Rajya Sabha MP, Odisha) – Devusinh Chauhan, Minister of State (Kheda,Gujarat)

5th Edition of ICC Sustainability Conclave 2023

  • The Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers and Indian Chemical Council (ICC) organizing the two days Conclave with the theme of “Integrating Sustainability & Business Strategy for the Chemical Industry- Addressing Challenges and Opportunities”.
  • This is a major initiative of the Indian Chemical Industry for encouraging sustainability in the management of the entire life cycle of chemicals. Environment Resource Management (ERM), a globally renowned entity in the sector, is the Knowledge Partner for the Conclave.
  • ICC Sustainability Conclave holds immense significance in light of India’s international commitments to address climate change, decrease carbon footprints, increase renewable energy utilization, and encourage sustainable corporate practices.
  • The two-day event will bring together senior representatives from Indian and Global companies, government officers, multilateral organizations, chemical industry bodies, and academic experts to discuss trending issues and opportunities, including ESG strategies, de-carbonization, net-zero transition, digital transformation, green growth, cleaner energy, safety promotion, and product stewardship beyond regulations.
  • Ministry of Chemicals and Fertilizers – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Bhagawanth Khuba,Minister of State (Bidar,Karnataka) 

Niti Aayog organised One- Day Workshop on Harnessing Data for Development (D4D)

  • NITI Aayog is organising Workshop on the theme “Harnessing Data for Development (D4D) for Accelerating Progress on Sustainable Development Goals (SDGs)” at Hotel Taj Palace, New Delhi.
  • This workshop is the second in the series of Feeder Thematic Workshops being organised by NITI Aayog on varied themes to discuss the G20 New Delhi Leaders’ Declaration (NDLD).
  • The workshop will serve as a platform for discussion on the relevance, dimensions, and implementation of the G20 Principles of Harnessing Data for Development (D4D) within the Indian context.
  • This one-day workshop will bring together key think tanks and academics whose work is intrinsically linked to the central theme.
  • The workshop will include four sessions on the following themes:
  • Sustainability: Enhancing high-quality data and sustainable data infrastructure, promoting data-informed approaches for sustainable development.
  • Inclusion: Bridging the digital gap, with a particular focus on addressing gender and data disparities, while also championing the inclusive utilization of data for development purposes.
  • Technology and Finance: Securing additional financial backing while also promoting technology assistance to enhance the progress and effectiveness of development initiatives.
  • Capacity Building: Enhancing the capacity of individuals and organizations, fostering collaborative efforts, and nurturing strategic partnerships to bolster the effectiveness of data-driven initiatives for sustainable development.

First International Cruise Liner ‘COSTA SERENA’

  • Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal will launch the domestic sailing of the first International Cruise Liner ‘COSTA SERENA’ in Mumbai.
  • Costa Cruises is expected to carry approximately 45,000 passengers in its next 2 months voyages.
  • Such cruise initiatives are part of ‘Dekho Apna Desh’, launched on Prime Minister’s appeal to the middle class to prefer domestic tourism over international.
  • Ministry of Ports, Shipping and Waterways – Sarbananda Sonowal, Union Minister (Rajya Sabha MP, Assam) – Shripad Yesso Naik, Minister of State (North Goa) & Shantanu Thakur, Minister of State (Bangaon,West Bengal)

Second edition of ‘World Food India’

  • Prime Minister Narendra Modi inaugurated the second edition of ‘World Food India 2023’ at Bharat Mandapam, Pragati Maidan, New Delhi.
  • Prime Minister will also inaugurate Food Street as part of World Food India 2023.
  • It will feature regional cuisines and royal culinary heritage, wherein over 200 chefs will participate and present traditional Indian cuisine, making it a unique culinary experience.
  • The event aims to showcase India as ‘food basket of the world’ and celebrate 2023 as the International Year of Millets. 
  • It will provide a networking and business platform for government bodies, industry professionals, farmers, entrepreneurs and other stakeholders to engage in discussions, establish partnerships, and explore investment opportunities in the agri-food sector.
  • CEOs roundtables will take place with focus on investment and Ease of Doing Business.
  • Various pavilions will be set up to showcase the innovation and strength of the Indian food processing industry.
  • The event will host 48 sessions focusing on various aspects of the food processing industry, with an emphasis on financial empowerment, quality assurance and innovations in machinery and technology.
  • The event is poised to host participants from over 80 countries, including CEOs of prominent food processing companies.
  • It will also feature a Reverse Buyer Seller Meet, with over 1200 overseas buyers from more than 80 countries.
  • Netherlands will serve as the partner country, while Japan will be the event’s focus country.

NHAI sets up Dust & Control Management Center

  • National Highway Authority of India has set up a Dust and Control Management Center to control dust at the construction sites in view of a dip in air quality in New Delhi.
  • The authority has set up this centre under the direction of the Commission of Air Quality Management.
  • This Project will monitor the effective implementation of dust control measures in National Highway projects.
  • NHAI is implementing these projects around the Dwarka Expressway, Delhi-Amritsar-Katra Expressway, and Delhi-Dehradun Expressway.
  • NHAI has directed its contractors and concessioners to review the existing dust control measures and strictly comply with the directions issued by the Centre and State Pollution Control Board.
  • Dust control measures also include the deployment of mechanical sweeping machines on completed projects, water sprinkling along the day on all construction sites, and the Deployment of Anti-Smog Guns.
  • National Highways Authority of India (NHAI) – 1995 (Founded) – New Delhi (HQ) -Santosh Kumar Yadav (Chairman)

International News

Indo-US MeitY-National Science Foundation Workshop

  • Ministry of Electronics and Information Technology (MeitY) Secretary Shri S Krishnan inaugurated the 1st Workshop on MeitY-National Science Foundation (NSF), USA Joint Call for R&D Proposals under the MeitY-NSF Research Collaboration.
  • It is an opportunity for US and Indian researchers to brainstorm and make research collaborations during the Workshop.
  • The proposal Handshake between MeitY and NSF demonstrates the resolve of both nations to further bolster their shared vision of strategic technology partnership, leveraging the strength and ingenuity of their respective research quotient.
  • Proposing teams of US and India investigators are strongly encouraged to develop appropriate partnership with testbed providers, local communities and industry partners to ensure that resources and expertise are available for the success of the projects.
  • MeitY and NSF have signed an Implementation Arrangement (IA) on Research Collaboration in May 2023.
  • This collaborative research opportunity focuses specifically upon discoveries and innovations in areas of mutual interest as highlighted in the Joint Statement made by Government of India and United State of America during the Prime Minister Shri Narendra Modi’s visit to the US in June 2023.
  • In the first Joint Call, proposals in the areas of semiconductor research, next generation communication technologies/networks/systems, cyber-security, sustainability and green technologies and Intelligent Transportation Systems will be considered.
  • The proposal submission started from August 21, 2023 and last date of proposal submission is January 05, 2024.
  • The first day of the Workshop witnessed active participation by more than 200 researchers and start-ups from both the countries, officials of NSF, Embassy of USA and other senior officials of MeitY and industries.
  • There were series sessions on Semiconductor Research, Industry/Universities Interaction, Cyber Security and parallel break-out sessions in all the 5 identified areas of research collaboration, which were well attended by researchers from both sides.
  • United States of America – Washington, D.C. (Capital) – US Dollar (Currency) – Joe Biden (President) – English (Language)

State News

Tamil Nadu Digital Transformation Strategy

  • Tamil Nadu Chief Minister M.K. Stalin released the Tamil Nadu Digital Transformation Strategy.
  • It is expected to improve the efficiency of governance and administration.
  • Besides aiming at improving accessibility, transparency, efficiency and accountability to citizens, it focuses on strengthening the ecosystem and developing talent pool and incubation centres to make Tamil Nadu a hub of innovation and entrepreneurship.
  • Strengthening the process of digitisation in Tamil Nadu, enhancing digital connections in Tier-II and Tier-III towns, developing a conducive ecosystem for disruptive technologies and a digital-ready workforce are among its objectives.
  • It is also expected to act as a guide to all State government departments in drafting their digital transformation strategy and its implementation.
  • The strategy is expected to aid other departments in achieving key performance indicators and outcomes, providing guidance — from assessing digital maturity to implementing IT strategy — and empowering citizens, including those in remote locations, with digital infrastructure.
  • It is also aimed at ensuring that government services are made available to citizens through apps and web portals, among others.
  • Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)

Banking and Finance

M&M Financial Services co-lending partnership with SBI

  • M&M Financial Services has entered into a co-lending partnership with the State Bank of India to offer affordable solutions to the NBFC’s customers.
  • The pact will harness the distribution strength of Mahindra Finance and the cost-efficient capital of SBI, ensuring wider outreach and better interest rates for customers, which will be determined based on the customer’s credit profile.
  • This will help unlock the potential of priority sector lending and ensure a “personalised and competitive financing experience.”
  • This is Mahindra Finance’s first co-lending tie-up with a bank.
  • Under this agreement, the NBFC will facilitate leads and manage loan servicing while serving as a single point of contact for prospective customers.
  • State Bank of India (SBI) – 01/07/1955 (Founded) – Mumbai (HQ) – Dinesh Kumar Khara (Chairman) – “Pure Banking, Nothing Else” (Tagline)

Agreements and MoUs signed

YES Bank signed MoU with Cloud Ace India

  • YES BANK has entered into a Memorandum of Understanding (MOU) with Accelerated Computing Enterprise Pvt. Ltd. (trading as “Cloud Ace India”), a leading provider of cloud solutions.
  • The agreement signifies a pivotal step in YES BANK’s commitment at facilitating tech innovation and global digital transformation.
  • It also emphasizes the Bank’s endeavour of using advanced cloud tech and financial expertise to assist businesses, startups, and entrepreneurs.
  • The goal is to improve customer convenience and security through cloud tech and provide tailored support to startups via YES Connect.
  • YES Connect is a groundbreaking platform that serves as a one-stop solution for both existing and potential YES Bank customers.
  • It empowers users to access basic banking services, and also discover a wide array of solutions offered by the Bank and its esteemed partners.
  • A fundamental element of this partnership revolves around the dedication to promote innovation through the delivery of state-of-the-art cloud solutions and financial services.
  • By merging Cloud Ace’s proficiency in cloud infrastructure, backed by YES BANK’s financial knowledge, the collaboration seeks to assist businesses in simplifying their processes, cutting expenses, and achieving efficient growth.
  • Yes Bank – 2004 (Founded) – Mumbai (HQ) – Prashant Kumar (MD & CEO) – “Experience Our Expertise” (Tagline)

Election Commission signed MoU with Ministry of Education

  • The Election Commission and the Ministry of Education signed a Memorandum of Understanding to bring electoral literacy to classrooms across the country.
  • Now the students of school and college will soon learn about their future roles and duties as voters in the election process, as part of the curricular and extra-curricular interventions in educational institutions.
  • The MoU is intended to integrate voter education and electoral literacy into the curricular framework, starting from classes 6 to 12 in all schools. 
  • One of the rooms in every senior secondary school will be designed as a Democracy Room for the regular display of voter education materials and the conduct of Continuous Electoral and Democracy Education activities throughout the year.
  • It will offer a platform for students to learn, discuss, and participate in various aspects of India’s democratic processes.
  • The move will prepare students in schools for their first vote, democratic values, and ethos to be ingrained at a formative age.
  • The National Council of Educational Research and Training will introduce and update textbooks to include content on electoral literacy and will advise State Education Boards and other Boards to follow suit.
  • Ministry of Education – Dharmendra Pradhan,Union Minister (Rajya Sabha MP,MP) – Subhas Sarkar, Minister of State (Bankura, West Bengal), Annpurna Devi Yadav, Minister of State (Kodarma, Jharkhand), Rajkumar Ranjan Singh, Minister of State (Inner Manipur,Manipur)

Summit and Conference

AI safety summit

  • United Kingdom’s Prime Minister Rishi Sunak hosted the AI Safety Summit 2023 at Bletchley Park, Buckinghamshire.
  • The objectives of the two-day Summit are deliberating the risks associated with AI, particularly at the cutting edge of its development, and exploring strategies for their mitigation through globally coordinated efforts.
  • Union Minister of State for Skill Development & Entrepreneurship and Electronics & IT Rajeev Chandrasekhar addressed the inaugural plenary session of the ‘AI Safety Summit 2023’.
  • The AI Safety Summit 2023 will revolve around five key objectives as per the UK government:
  • Shared Understanding of Risks: One of the foremost goals of the summit is to foster a shared understanding of the risks posed by frontier AI and to emphasize the urgency for collective action to address them.
  • International Collaboration: Participants will explore avenues for international collaboration concerning frontier AI safety, including mechanisms to bolster national and international frameworks.
  • Organisational Responsibility: The summit will delve into the measures that individual organisations should adopt to enhance safety when working with frontier AI technologies.
  • Research Collaboration: The attendees will identify areas for potential collaboration in AI safety research, encompassing the evaluation of model capabilities and the formulation of new standards to support governance.
  • AI for Global Good: A central theme will be to showcase how ensuring the safe development of AI can unlock its potential for global betterment, thereby addressing the broader public interest.
  • The ‘AI Safety Summit 2023’ has assembled representatives from around the world, including governments, prominent AI corporations, civil society organisations, and research experts from the UK, US, Australia, Canada, France, Germany, Indonesia, Ireland, Italy, Kenya, Saudi Arabia, the Netherlands, South Korea, among others.
  • European Commission President Ursula von der Leyen, United Nations Secretary-General Antonio Guterres and executives from U.S. artificial intelligence companies such as Anthropic, Google’s DeepMind and OpenAI, and influential computer scientists like Yoshua Bengio, one of the “godfathers” of AI, are also attending.
  • India, along with 27 other countries and the European Union have signed world’s first agreement on artificial intelligence (AI) safety at a meeting in the United Kingdom.
  • The agreement pledges to work together to assess the risks associated with artificial intelligence.
  • United Kingdom – London (Capital) – Pound Sterling (Currency) – Charles III (Monarch) – Rishi Sunak (Prime Minister) – English (Language)

India-Sri Lanka Business Summit

  • Union Finance Minister Nirmala Sitharaman addressed the India-Sri Lanka Business Summit at Colombo.
  • Ms. Sitharaman and Sri Lanka President Ranil Wickremesinghe virtually laid the foundation stone of the 10000 houses under phase 4 of the Indian Housing Project.
  • She also spoke at the Naam 200 commemoration of 200 years of the arrival of the IOT Community to Sri Lanka at Sugathadasa Indoor Stadium in Colombo.
  • On the occasion, Thondaman Vocational Training Centre, upgraded under Indian assistance, was dedicated to the people. A
  • part from this, school supplies for 10000 schoolchildren in the plantation areas were also handed over.
  • She also inaugurated State Bank of India’s branch in Trincomalee, Sri Lanka.
  • 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)

Acquisitions and Mergers

Raymond Group will acquire 59.25% stake in Maini Precision Products

  • Raymond Group will acquire a 59.25% stake in Maini Precision Products Ltd for ₹682 crores to further strengthen its existing engineering business.
  • Maini Precision Products Ltd (MPPL) has a presence in aerospace, electric vehicles and defence.
  • The acquisition will be concluded through Ring Plus Aqua Ltd (RPAL), a subsidiary of JK Files and Engineering Ltd (JK Files).
  • Raymond Group – 1925 (Founded) – Mumbai (HQ) – Gautam Vijaypat Singhania (Chairman)


Chairman of Armed Forces Tribunal

  • Former Delhi High Court Chief Justice Rajendra Menon has been re-appointed as Chairman of the Armed Forces Tribunal (AFT) for four years.
  • He will serve as Chairman of the Tribunal till June 6, 2027.
  • The former judge was first recommended to the post in 2019 and served for four years.
  • Armed Forces Tribunal – 08/08/2009 (Founded) – New Delhi (HQ) – Ministry of Defence (Under)

Independent director of Dabur

  • Dabur India Limited appointed of Sushil Chandra, former Chief Election Commissioner of India and former chairman of the Central Board of Direct Taxes (CBDT), as an additional director in the category of non-executive independent director for a period of five years.
  • Dabur Ltd – 1884 (Founded) – Ghaziabad, Uttar Pradesh (HQ) –    Mohit Burman (Chairman)

Ranks and Indices

EdelGive Hurun India Philanthropy List 2023

  • As per EdelGive Hurun India Philanthropy List 2023, HCL Technologies’ Shiv Nadar retained the title of ‘India’s most generous’ for the third straight year as he donated ₹2,042 crores during the fiscal year 2022-23.
  • Wipro’s Azim Premji on the second rank as he donated ₹1,774 crores during the year while Nikhil Kamath became the youngest philanthropist on the list as he donated ₹110 crores during FY22-23.
  • Author Rohini Nilekani is the most generous woman philanthropist as she donated ₹170 crores during the year.
  • Reliance Industries chairman Mukesh Ambani and his family are ranked third on the list as they donated ₹376 crores while Adani Group chairman Gautam Adani and his family are ranked fifth with donations of ₹285 crores during the year.
  • Infosys co-founder Nandan Nilekani, who is known for his philanthropic activities, is ranked 8th on the list with donations worth ₹189 crores.
  • According to the EdelGive Hurun India Philanthropy List 2023, 119 Indians donated more than ₹5 crores during the year, which is 59% higher than the previous year and 200% higher than the 3-year-ago period.
  • Moreover, 14 individuals from India donated more than ₹100 crores.
  • 24 individuals donated more than ₹50 crores, up by 100%, and 47 individuals donated more than ₹20 crores, up by 100%.

Awards and Recognitions


  • The AFC Annual Awards are awards given by the Asian Football Confederation (AFC) to the most outstanding performers of the Asian football season.
  • AFC Annual Awards 2022 was took place at Doha,Qatar.
  • AFC Player of the Year 2022: Salem Al Dawsari
  • AFC Women’s Player of the Year 2022: Samantha May Kerr (Australia)
  • AFC Futsal Player of the Year 2022: Moslem Oladghobad
  • AFC Men’s Coach of the Year 2022: Hajime Moriyasu (Japan)
  • AFC Women’s Coach of the Year 2022: Shui Qingxia (China)
  • AFC Asian International Player of the Year 2022: Kim Min-jae
  • AFC Youth Player of the Year (Women) 2022: Maika Hamano
  • AFC Youth Player of the Year (Men) 2022: Kuryu Matsuki
  • AFC Diamond of Asia: late Saoud Al Mohannadi of Qatar
  • Asian Football Confederation (AFC) – 07/05/1954 (Founded) –       Kuala Lumpur, Malaysia (HQ) – Salman bin Ibrahim Al Khalifa (President)

Sports News

David Willey announced retirement

  • England all-rounder David Willey announced his retirement from all forms of cricket.
  • Willey has represented England in 70 ODIs and 43 T20Is.
  • He has scored 627 runs in ODIs at a decent average of 26.


XVIII International Workshop on High Energy and Special Materials

  • The Defence Research and Development Organisation’s (DRDO) High Energy Material Research Laboratory (HEMRL), Pune is organizing the XVIII International Workshop on High Energy and Special Materials (HEMs-2023) in association with Tomsk State University & Federal Research & Production Centre, Russia at Dr APJ Abdul Kalam DRDO Golden Jubilee Auditorium, Pashan, Pune.
  • The workshop was inaugurated by Dr Samir V Kamat, Secretary Department of Defence R&D and Chairman DRDO.
  • HEMRL is organizing this international workshop for the first time in India, which provides a platform to the scientists, technocrats and researchers to share knowledge, experience and technological advancements made in recent past. About 250 delegates from countries like Russia, Germany, France, India etc., are attending the workshop.
  • Various DRDO and ISRO laboratories, academic institutes and industries are participating in the workshop.
  • HEMs-2023 is being held to discuss, deliberate and share new developments in recent past in High Energy Materials and allied technologies.
  • The theme of this workshop is ‘Emerging Trends in High Energy and Special Materials’.
  • The workshop is aimed at strengthening the collaboration of scientists and researchers across the globe on the development of new articles based on High energy and special materials.
  • The International Workshop on HEMs was started in the year 2004 and thereafter regularly organized by Russia with International Collaborators like Politecnico di Milano, Italy; Airbus Safran Launchers (Ariane Group) and Universite Lyon 1, France; JAXA, Japan.
  • Defence Research and Development Organisation (DRDO) – 1958 (Founded) – New Delhi (HQ) – Dr Sameer V Kamath (Chairman)

Daily Current Affairs - November 03, 2023 - Consolidated

  • 2024 World Telecommunication Standardisation Assembly
  • 5th Edition of ICC Sustainability Conclave 2023
  • Niti Aayog organised One- Day Workshop on Harnessing Data for Development (D4D)
  • First International Cruise Liner ‘COSTA SERENA’
  • Second edition of ‘World Food India’
  • NHAI sets up Dust & Control Management Center
  • Indo-US MeitY-National Science Foundation Workshop
  • Tamil Nadu Digital Transformation Strategy
  • M&M Financial Services co-lending partnership with SBI
  • YES Bank signed MoU with Cloud Ace India
  • Election Commission signed MoU with Ministry of Education
  • AI safety summit
  • India-Sri Lanka Business Summit
  • Raymond Group will acquire 59.25% stake in Maini Precision Products
  • Chairman of Armed Forces Tribunal
  • Independent director of Dabur
  • EdelGive Hurun India Philanthropy List 2023
  • David Willey announced retirement
  • XVIII International Workshop on High Energy and Special Materials

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