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Daily Current Affairs – November 04, 2023

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Daily Current Affairs - Banking - November 04, 2023

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National News

"Silent Conversation: from Margins to the Centre"

  • The President of India, Droupadi Murmu inaugurated an art exhibition titled, “Silent Conversation: From Margins to the Centre” in New Delhi.
  • This exhibition is being organised by the National Tiger Conservation Authority in collaboration with the Sankala Foundation to celebrate the completion of 50 years of Project Tiger.

Competition Commission of India launched Market Study on Cement Sector in India

  • The Competition Commission of India (CCI) is launching a pan-India Market Study on the Cement sector.
  • Cement is a critical input in crucial sectors of the economy such as housing and infrastructure.
  • These sectors have well-known forward and backward linkages with a range of other industries, thereby having the potential to influence the overall growth trajectory of the economy.
  • Given the criticality of cement for many vital sectors, well-functioning and competitive cement market is of utmost importance. 
  • In view of the same and given the structural features of cement market that make it susceptible to collusion, the market study will be a fact-finding exercise to develop comprehensive understanding of the functioning of cement market across regions in India, and the state of competition therein.
  • The study will be a combination of secondary research and stakeholder consultation.
  • Qualitative and quantitative information will be collected from secondary and primary sources.
  • Designed by the Commission, the study will be implemented by a study team at the Commission with the assistance of an external agency to be engaged for the purpose.
  • The study team will hold consultation with stakeholders throughout the country.
  • Competition Commission of India (CCI) – 14/10/2003 (Founded) – New Delhi (HQ) – Ravneet kaur (Chairperson)

International News

First country to sterilise all stray dogs

  • Bhutan has declared itself the first country in the world to have completely sterilised and vaccinated its entire stray dog population, following a 14-year dog population control programme.
  • A global animal charity, Humane Society International (HSI), that helped implement the programme made the announcement.
  • Bhutan Prime Minister Lotay Tshering announced the completion of the National Dog Population Management and Rabies Control Project, noting that the project has successfully sterilised and vaccinated over 150,000 strays since its inception.
  • The project, which began in 2009, also included microchipping 32,000 pet dogs.
  • Bhutan – Thimphu (Capital) – Ngultrum (Currency) – Jigme Khesar Namgyel Wangchuck (Druk Gyalpo) – Lotay Tshering (Prime Minister) – Dzongkha (Language)

State News

Andhra Pradesh cabinet

  • Andhra Pradesh cabinet has ratified the State Investment Promotion Board’s (SIPB) approval of fresh investments worth ₹19,037 croreS in various sectors which will employ 69,565 persons.
  • The cabinet decided to implement a new land allotment policy for setting up industries.
  • It approved an allotment of 5400 acres of land for Ecoren Energy India Ltd to establish 902 MW solar energy plants in Nandyala and YSR districts and an additional allotment of 2 acres of land to MRK Group to establish hotels in Tirupati district. 
  • It also approved a proposal to establish an 800 MW wind energy plant and allot another 100 acres of land to establish National Law University in Kurnool district.
  • The government will undertake a comprehensive caste-based census.
  • Andhra Pradesh – Visakhapatnam (Capital) – Y. S. Jagan Mohan Reddy (CM) – S. Abdul Nazeer (Governor) – Telugu (Language)

Abilities India Expo for persons with disabilities, elderly

  • Walshal Abilities and Assistive Technologies Pvt Ltd will host Abilities India Expo, India’s first and multifaceted national expo for persons with disabilities and the elderly at Kochi’s Adlux International Exhibition and Convention Centre in Angamaly from December 13 to 17.
  • The 5-day event will be showcasing products and services from more than 1,000 exhibitors.
  • The expo will also showcase products made by persons with disabilities, the latest innovations in disability products, assistive technology solutions, services for the elderly.
  • Kerala – Thiruvananthapuram (Capital) – Pinarayi Vijayan (CM) – Arif Mohammad Khan (Governor) – Malayalam (Language)

Odisha got investment proposals worth Rs 4,940 crore in wind energy sector

  • The Odisha government has received investment proposals worth Rs 4,940 crore from investors for 575 MW capacity of wind energy projects.
  • GRIDCO – a state government undertaking and the nodal agency for the development of renewable energy – in collaboration with its technical partner iFOREST, organized “Odisha Wind Energy Summit Investor Round Table” to explore investment opportunities in the wind power sector.
  • Odisha – Bhubaneswar (Capital) – Naveen Patnaik (CM) – Raghubar Das (Governor) – Odia (Language)

Banking and Finance

Monetary penalty by RBI

  • The Reserve Bank of India (RBI) had imposed a monetary penalty of ₹30 lakh on Federal Bank Ltd. for non-compliance with certain directions contained in ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’.
  • This penalty has been imposed in exercise of powers vested in RBI conferred under the provisions of Section 47 A (1) (c) read with Section 46 (4) (i) of the Banking Regulation Act, 1949.
  • The RBI had also imposed a monetary penalty of ₹72 lakh on Punjab National Bank for non-compliance with certain provisions of ‘Reserve Bank of India (Interest Rate on Deposits) Directions, 2016’, ‘Reserve Bank of India (Interest Rate on Advances) Directions, 2016’ and ‘Master Circular on Customer Service in Banks’.
  • This penalty has been imposed in exercise of powers vested in RBI conferred under the provisions of Section 47 A (1) (c) read with Sections 46 (4) (i) and 51(1) of the Banking Regulation Act, 1949.
  • Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)

Axis Bank partnered with Mahindra Lifespace Developers

  • Axis Bank has partnered with Mahindra Lifespace Developers, the real estate and infrastructure development arm of the Mahindra Group, to provide cheaper loans for green homes.
  • Under this partnership, Mahindra Lifespaces’ customers can avail home loans at 0.25% less than the standard home loan rate.
  • Further, the loan application and disbursal process will entail reduced paperwork, to minimise paper wastage and ensure efficient document management.
  • Mahindra Lifespace has a 100% green portfolio, and a commitment to build only Net Zero homes from 2030.
  • Axis Bank – 03/12/1993 (Founded) – Mumbai (HQ) – Amitabh Chaudhry (MD & CEO) – “Badhti Ka Naam Zindagi” (Tagline)

Digital Rupee by ICICI Bank

  • ICICI Bank had enabled payment to any merchant QR code through its digital rupee (e₹) app named ‘Digital Rupee by ICICI Bank’.
  • The bank has made it possible by making its digital rupee app UPI (Unified Payments Interface) interoperable.
  • This integration allows customers to scan existing UPI QR code at merchant outlets and pay via the digital rupee app.
  • At the same time, it helps merchants accept digital rupee payments on their existing UPI QR code, eliminating the need for onboarding.
  • ICICI Bank’s introduction of UPI interoperability on its digital rupee app provides flexibility and convenience to customers.
  • It also expands the usage of the digital rupee.
  • ICICI Bank was selected to participate in the first cohort of the pilot project on digital currency launched by the Reserve Bank of India (RBI) in December 2022.
  • The bank is live with this facility in 80 cities across the country.
  • ICICI Bank – 05/01/1994 (Founded) – Mumbai (HQ) – Sandeep Bakhshi (MD & CEO)– “Khayal Apka” (Tagline)

AU Small Finance Bank and Ixigo Launched Premium Co-Branded Credit Card

  • AU Small Finance Bank (AU SFB) and ixigo have joined hands to launch a premium co-branded credit card for modern travellers.
  • This strategic partnership combines the strengths of AU SFB’s financial expertise with ixigo’s deep penetration in Tier-II and III markets, aiming to offer their customers a seamless blend of premium financial rewards with unparalleled travel benefits.
  • The ixigo-AU co-branded credit card will empower customers to enjoy a travel experience across all travel verticals, flights, trains, buses & hotels.
  • The co-branded credit card provides a range of exclusive benefits designed to cater to the requirements of both frequent and occasional travellers.
  • It is designed to address the evolving needs of modern travellers, who seek flexibility, convenience, and value.
  • AU Small Finance Bank – 1996 (Founded) – Jaipur, Rajasthan (HQ) – Raj Vikash Verma (Chairman) – Sanjay Agarwal (MD & CEO)

Science and Technology

Object Tech Solutions developed agri data portal for Agriculture Ministry

  • Object Technology Solutions, a global IT services company, has developed UPAg (Unified Portal for Agricultural Statistics) for Ministry of Agriculture and Farmers Welfare.
  • UPAg portal is designed to streamline and enhance data management in the agricultural sector.
  • It addresses the critical need for credible, objective data to minimise the need for subjective judgment in policymaking, ultimately fostering stability, transparency, and informed decision-making.
  • The portal addresses complex governance issues in the farming sector and enhances data accuracy besides improving digital data governance in the agriculture sector.
  • It will grant users access to real-time, reliable and standardised information paving the way for more responsive and efficient agricultural policies.
  • Ministry of Agriculture and Farmers Welfare – Narendra Singh Tomar,Cabinet Minister (Morena,UP) – Shobha Karandlaje,Minister of State (Udupi Chikmagalur,Karnataka), Kailash Choudhary, Minister of State (Barmer,Rajasthan)

Appointments

Centre appointed two part-time members at NFRA

  • The Corporate Affairs Ministry (MCA) has appointed Sanjay Kallapur and Professor R Narayanaswamy as part-time members of the audit regulator National Financial Reporting Authority (NFRA) for a period of three years.
  • Kallapur is currently a Professor of Accounting at the Indian School of Business at Hyderabad.
  • Narayanaswamy is a former faculty of IIM Bangalore specialising in finance & accounting.
  • Ministry of Corporate Affairs – Nirmala Sitharaman, Union Minister (Rajya Sabha MP, Karnataka) – Raja Rao Inderjit Singh Yadav, Minister of State (Gurgaon,Haryana)

Joint Director of CBI

  • IPS officer Pravin Madhukar Pawar has been appointed as Joint Director of the Central Bureau of Investigation (CBI) for a period of five years from the date of assumption of charge of the post or until further orders.
  • Earlier in May 2023, the Centre had appointed Praveen Sood, the incumbent director general of police (DGP) of Karnataka, as the next director of the Central Bureau of Investigation (CBI) by replacing Subodh Kumar Jaiswal for a two-year period.
  • As per the norms, the CBI director is selected for a fixed tenure of two years by a panel that includes the prime minister, CJI, and the leader of opposition in Lok Sabha.
  • The tenure of appointment can be extended for a maximum period of five years.

UN Advisory Committee on Administrative and Budgetary Questions

  • Senior Indian diplomat Surendra Adhana has been re-elected to serve on the Advisory Committee on Administrative and Budgetary Questions (ACABQ) at the UN for the term 2024-26.
  • The Advisory Committee is an expert Committee of 21 Members elected by the General Assembly for a period of three years, on the basis of a broad geographical representation.
  • Members serve in a personal capacity and not as representatives of member states.

Awards and Recognitions

Changemaker Award

  • The fifth edition of the event saw awards being given in six categories – digital transformation, social transformation, financial transformation, young changemaker, iconic changemaker, and changemaker of the year.
  • Power Minister R.K. Singh presented businessline’s Changemaker of the Year award to the Reserve Bank of India for steering the country through the turbulent period of the pandemic.
  • The Amul was crowned Iconic Changemaker of the Year.
  • The digital transformation winner was Stellapps Technologies, a start-up that works on digitising the dairy sector.
  • In social transformation there were two winners – HerKey, which aims to reverse the female brain drain and Educate Girls, an NGO that aims to improve access and quality of education for girls.
  • The award for financial transformation went to Pradhan Mantri Jan Dhan Yojana.
  • The Young Changemaker Award went to Shrinidhi R.S., creator of CherriLearn, an education app which offers gamified lessons in regional languages to children of classes 1-5.
  • The 2023 awards function was presented by Sastra.
  • Associate partners were LIC, Casagrand, GMDC, LICHFL, Punjab & Sind Bank, United India, GAIL, and NTPC; banking partner was J&K Bank; online grocery partner BigBasket; tourism partner Bihar Tourism; education partner SSVM Institutions; television partner NewsX; gift partner Anand Prakash; knowledge partners Ashoka and Deloitte; and validation partner NIITI Consulting.

Obituary

Goutam Halder passed away

  • Renowned Bengali filmmaker and theatre personality Goutam Halder passed away at 67.
  • He had directed around 80 stage plays, including Rabindranath Tagore’s Rakta Karabi recently.
  • Halder had made his first Bengali film Bhalo Theko in 2003, with actor Vidya Balan in the lead role.
  • He also directed Nirvana with Rakhi Gulzar in the lead role in 2019.

Important Days

Ministry of MSME observes Vigilance Awareness Week 2023

  • The Ministry of Micro, Small and Medium Enterprises (MSME) is observing the Vigilance Awareness Week from 30th October to 5th November, 2023 with the theme given by Central Vigilance Commission “Say No to Corruption; Commit to the Nation”.
  • During the vigilance awareness week, the Ministry of MSME had organised various awareness programmes/ Seminars/ workshops/ capacity building training at the Ministry level as well as through the organizations under this Ministry.
  • A workshop at BHIM Hall, Dr. Ambedkar International Centre has been organized on Vigilance Awareness programme 2023, wherein a Skit was followed by Plenary sessions and technical sessions by Khadi and Village Industries Commission (KVIC) & National Small Industries Corporation (NSIC).
  • In the keynote address by Shri Praveen Kumar Srivastava, Central Vigilance Commissioner urged to the MSME officers for taking all measures on preventive vigilance in focus areas recommended by CVC.
  • Ministry of Micro, Small and Medium Enterprises – Narayan Rane,Union Minister (Rajya Sabha MP,Maharashtra) – Bhanu Pratap Singh Verma,Minister of State (Jalaun,UP)

International Day for Biosphere Reserve

  • International Day for Biosphere Reserve is annually observed on November 03.
  • In the year 2022 at the 41st Session of UNESCO’s general Conference, it was decided that November 3 would be celebrated worldwide as the International Day for Biosphere Reserves.
  • Biosphere Reserves are protected areas, meant for the conservation of plants and animals.
  • United Nations Educational, Scientific and Cultural Organization (UNESCO) – 16/11/1945 (Founded) – Paris, France (HQ) – Audrey Azoulay (Director-General)

Daily Current Affairs - November 04, 2023 - Consolidated

  • “Silent Conversation: from Margins to the Centre”
  • Competition Commission of India launched Market Study on Cement Sector in India
  • First country to sterilise all stray dogs
  • Andhra Pradesh cabinet
  • Abilities India Expo for persons with disabilities, elderly
  • Odisha got investment proposals worth Rs 4,940 crore in wind energy sector
  • Monetary penalty by RBI
  • Axis Bank partnered with Mahindra Lifespace Developers
  • Digital Rupee by ICICI Bank
  • AU Small Finance Bank and Ixigo Launched Premium Co-Branded Credit Card
  • Object Tech Solutions developed agri data portal for Agriculture Ministry
  • Centre appointed two part-time members at NFRA
  • Joint Director of CBI
  • UN Advisory Committee on Administrative and Budgetary Questions
  • Changemaker Award
  • Goutam Halder passed away
  • Ministry of MSME observes Vigilance Awareness Week 2023
  • International Day for Biosphere Reserve

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