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Daily Current Affairs – November 14 & 15, 2023

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Daily Current Affairs - Banking - November 14 & 15, 2023

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National News

First Woman to Skydive from 21,500 feet Near Mt Everest

  • Indian skydiver Shital Mahajan jumped off a helicopter from the height of 21,500 feet in front of the world’s highest peak, Mt Everest and landed at Kalapatthar peak at an altitude 17,444 feet.
  • She became the first woman to do so.
  • Mahajan holds several skydiving records and is the recipient of the Padma Shri (2001).

Food safety compliance system portal

  • Food Safety and Standards Authority of India (FSSAI) had launched the Food Safety Compliance System (FoSCoS) portal in Gujarati, Tamil, Telugu, and Marathi, along with Hindi and English.
  • The portal aims to improve user experience and accessibility for local food businesses, connecting them to the online compliance system.
  • FSSAI also plans to launch the portal in Kannada, Punjabi, Malayalam, Assamese, Bengali and Odia
  • The latest advancement aims to enhance the user experience for local food businesses, allowing them to easily connect with the FSSAI’s online compliance portal FoSCoS, launched nationwide in
  • Food Safety and Standards Authority of India (FSSAI) – 05/09/2008 (Founded) – New Delhi (HQ) – Shri Rajesh Bhushan (Chairman)

9th India International Science Festival (IISF) 2023

  • The 9th edition of the India International Science Festival (IISF) 2023 will be held at Faridabad, Haryana from January 17th-20th, 2024.
  • India’s mega Science Fair will be held at the Campus of Translational Health Science and Technology Institute (THSTI) and Regional Centre for Biotechnology (RCB) of Department of Biotechnology in Faridabad.
  • The theme of the present edition is ‘Science and Technology Public Outreach in Amrit Kaal’.
  • IISF 2023 aims to provide a platform for inspiring public at large and individuals with diverse levels of interests like students, educators, scientists, researchers, industry professionals, entrepreneurs and science communicators.
  • IISF 2023 will have a total of 17 themes to showcase scientific achievements offering diverse benefits to participants and the general public.
  • The event holds interface among all stakeholders through various activities such as seminars by national and international experts, interactions with speakers, exhibitions, competitions, workshops, knowledge-sharing activities, technology shows, etc.
  • The IISF is dedicated towards fostering creativity in Science, Technology and Innovation for the advancement of prosperous India.
  • This event was initiated under the visionary leadership of Prime Minister Shri Narendra Modi through collaborative efforts of the Ministry of Science and Technology and the Ministry of Earth Sciences in association with Vijnana Bharati.
  • Since 2015, the IISF has hosted eight editions in different geographical regions of India and expanded as a mega science festival.
  • In 2021, the Department of Space and the Department of Atomic Energy became an integral part of IISF.

International News

3rd in-person Ministerial meeting of the Indo-Pacific Economic Framework (IPEF)

  • Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal, participated in the third in-person IPEF Ministerial meeting in San Francisco.
  • During this Ministerial meeting, the first-of-its-kind IPEF Supply Chain Resilience Agreement was signed by the Minister along with the Ministers from other IPEF partner countries.
  • The Agreement is expected to make IPEF supply chains more resilient, robust, and well-integrated, and contribute towards economic development and progress of the region as a whole.

Schemes

“Ama Hospital” (Our Hospital)

  • The Odisha government will invest ₹3,388 crores over the next five years for strengthening the public health system in the State under a new scheme called “Ama Hospital” (Our Hospital).
  • The objective is to make healthcare more patient centric and focus more on investing on interventions contributing towards ease of living by the patients and the family members coming to public health facilities.
  • A sum of ₹3,388.73 crores has been provisioned for a period of five years from 2023-24 to 2027-28 for the scheme.
  • In the first year, 149 public health facilities will be strengthened.
  • Odisha – Bhubaneswar (Capital) – Naveen Patnaik (CM) – Raghubar Das (Governor) – Odia (Language)

Banking and Finance

ADB approved $100 million loan to Tripura

  • The Asian Development Bank (ADB) has approved a $100 million loan to improve urban services and tourism facilities in Tripura.
  • The multilateral development finance institution stated that the project will upgrade urban water supply systems by installing 42 kilometres (km) of new transmission and distribution pipes, establishing four new water treatment plants, and improving 55 km of stormwater drains.
  • Also, it will improve 21 km of urban roads that will incorporate features that respond to the needs of the elderly, women, children, and disabled.
  • Asian Development Bank (ADB) – 19/12/1966 (Founded) – Mandaluyong, Philippines (HQ) – Masatsugu Asakawa (President) – 68 countries

Natural Capital Fund (NCF)

  • Asian Development Bank (ADB), in partnership with the Global Environment Facility (GEF), has unveiled the inception of the Natural Capital Fund (NCF), a concessional fund aimed at bolstering projects that bolster food security while simultaneously safeguarding and reviving natural capital in ADB’s developing member countries (DMCs).
  • GEF has pledged $15 million in support of the NCF.
  • This event was a collaborative effort between ADB and Stanford University’s Natural Capital Project announced during the Asia-Pacific Natural Capital Forum.
  • The forum revolved around the discussion and exploration of natural capital assessments that are currently underway in several DMCs.
  • ADB, in association with Stanford University, has been working on introducing natural capital accounting and the Gross Ecosystem Product (GEP) within these countries.
  • Global Environment Facility (GEF) – October 1991 (Founded) – Washington (HQ)

IRDAI issued exposure draft on EoM for insurers based on RRC suggestions

  • The Insurance Regulatory and Development Authority of India (IRDAI) has released an exposure draft on the Expenses of Management (EoM) including commission for both, life and non-life insurance companies, based on the recommendation from the Regulation Review Committee (RRC)
  • The Irdai had directed the Councils to constitute an RRC comprising representatives from all stakeholder groups for the purpose of enhancing the ease of doing business and simplifying regulations by moving towards a principles-based regime in order to make them more effective.
  • The exposure draft has upheld and continues to propose a 30% and 35% limit on EoM for general insurers and standalone health insurers, respectively.
  • In the draft, the regulator said that life insurers should not spend an amount exceeding 5% of all single premiums received during the year on policies granting immediate annuity, deferred annuity, 10% of all single premiums received during the year on group pure risk policies.
  • The draft has revised the limit of all individual risk policies from 10% set earlier to 14%.
  • The limit was 15% of all premiums received on one-year renewable group policies, other than group fund-based policies, and so on.
  • The draft added that the allowance for the group fund-based policies will be based on the average of Assets under Management (AUM) of the policies at the beginning and at the end of the financial year.
  • For AUM up to Rs 10,000 crore, the allowable EoM will be 1% whereas for amounts more than Rs 10,000 crore the allowable EoM will be 80%.
  • Insurance Regulatory and Development Authority of India (IRDAI) – 1999 (Founded) – Hyderabad (HQ) – Debasish Panda (Chairman) – Ministry of Finance (Under)

Business and Economy

Wholesale Price Index in October 2023

  • India’s wholesale inflation remained in the deflationary zone for the seventh month in a row in October, coming in at -0.52%.
  • Wholesale Price Index (WPI) inflation stood at -0.26% in September and 67% in October 2022.

Agreements and MoUs signed

ArcelorMittal Nippon Steel India Signed MoU With Odisha

  • ArcelorMittal Nippon Steel India (AM/NS India) signed a Memorandum of Understanding (MoU) with the Government of Odisha to establish a High-Performance Centre in Kho Kho.
  • The aim is to transform Odisha into a premier Kho Kho excellence hub for India.
  • As per the agreement, the Government of Odisha will create and maintain the infrastructure of Kho Kho High Performance Centre (HPC), a facility to be housed in Kalinga Stadium, Bhubaneswar while AM/NS India will operate and manage the HPC and train the Kho Khoplayers.
  • It will also coach and develop judges for the sport along with their certifications.

Bharat Web3 Association signed MoU with Maharashtra State Skills university

  • Bharat Web3 Association (BWA) and the Maharashtra State Skills University signed a Memorandum of Understanding to collaborate and foster the development of skilled talent within the Web3 ecosystem in India.
  • They will engage together in initiatives aimed at enhancing skill development, education and research in the field of technology.
  • The objective of this collaboration is to facilitate relevant skills training and education to bring more people in the 0 domain.
  • With this partnership individuals and entities are expected to drive innovation, empowering skilled individuals, and fostering a thriving environment for technological progress in the country.

India signed MoU with USA

  • A Memorandum of Understanding (MoU) on “Enhancing Innovation Ecosystems through an Innovation Handshake” under the framework of India – U.S. Commercial Dialogue was signed between the two countries in San Francisco.
  • The leaders’ Joint Statement during the historic official State Visit of Prime Minister in June 2023 announced the establishment of the “Innovation Handshake”.
  • The MoU was signed at the kick-off industry roundtable titled, “Decoding the “Innovation Handshake”: U.S. – India Entrepreneurship Partnership” in San Francisco.
  • At the event, co-hosted by the S.-India Business Council (USIBC) and the Confederation of Indian Industry (CII) and supported by National Association of Software and Service Companies (NASSCOM) and Startup India, CEOs from major ICT companies, executives from venture capital firms, and founders of startups in the critical and emerging technology space discussed how to enhance U.S.-India technology collaboration.
  • The MoU is signed with the objective to connect the two sides’ dynamic startup ecosystems, address specific regulatory hurdles to cooperation, share information and best practices for startup fundraising and promote innovation and job growth, particularly in critical and emerging technologies (CET) as identified under India -U.S. initiative for Critical and Emerging Technology (iCET).
  • The MoU signals a joint commitment to strengthen the startup ecosystem in deep tech sectors and promote cooperation in Critical and Emerging Technologies (CET).
  • It is poised to positively impact economic activity, attract investment, and generate employment, especially in start-ups working in CET areas.
  • The scope of cooperation would include a series of India- U.S. Innovation Handshake events, including hackathon and “Open Innovation” programs, information sharing and other activities.
  • United States of America – Washington, D.C. (Capital) – US Dollar (Currency) – Joe Biden (President) – English (Language)

Science and Technology

Satellite internet services in India

  • Jio Satellite Communications Ltd and Eutelsat OneWeb have been granted the requisite licences to provide satellite internet services in India.
  • Both companies hold the GMPCS (Global Mobile Personal Communication by Satellite) licence, alongside a pan-India ISP (Internet Service Provider) licence.
  • The Department of Telecommunications (DoT) allocated ISP-A and a VSAT (Very Small Aperture Terminal) licence to OneWeb.
  • Jio showcased JioSpaceFiber at the India Mobile Congress (IMC) 2023, while Airtel’s booth featured solutions from Eutelsat OneWeb.
  • It is evident that Jio Satellite Communications and Eutelsat OneWeb are poised to be the first companies to launch satellite internet services in India, with a primary focus on enterprises.
  • Their current emphasis is not on providing services to consumers.

NASA-ISRO Synthetic Aperture Radar (NISAR)

  • The NASA-ISRO Synthetic Aperture Radar (NISAR) is set to be launched in the first quarter of 2024 after a few tests, particularly those related to vibration.
  • It will be launched from the Satish Dhawan Space Centre at Sriharikota aboard the ISRO Geosynchronous Satellite Launch Vehicle Mark-II.
  • The mission, which has three-year duration, aims to survey all of Earth’s land and ice-covered surfaces every 12 days.
  • This will start after a 90-day satellite commissioning period.
  • National Aeronautics and Space Administration (NASA) – 29/07/1958 (Founded) – Washington DC (HQ) – Bill Nelson (Administrator)

Nature

Airgun Surrender Abhiyan initiative

  • The Airgun Surrender Abhiyan initiative of Arunachal Pradesh Government has been selected as India’s best success story on wildlife conservation to present in the UNESCO’s International Conference on Biosphere Reserves held at Sabah, Malaysia.
  • Damodhar A.T. represented India on the occasion and presented India’s country report along with the success story in this UNESCO’s International Conference and meeting on Biosphere Reserves.
  • The Airgun Surrender Abhiyan is an initiative of the Department of Environment, Forest and Climate Change of the state Government.
  • Under the scheme people were invited to voluntarily surrender their Airguns and licensed guns to stop the use of these guns to kill birds and other wild animals.
  • The programme was officially launched on March 17, 2021 at Lumdung in East Kameng District where in 46 air guns were surrendered and Lumdung was declared first Airgun free village of Arunachal Pradesh.
  • Arunachal Pradesh – Itanagar (Capital) – Pema Khandu (CM) – Kaiwalya Trivikram Parnaik (Governor) – English (Language)

Appointments

Flag Officer Commanding The ‘Sword Arm’ of Indian Navy

  • Rear Admiral CR Praveen Nair, NM took over the mantle of Flag Officer Commanding The ‘Sword Arm’ of Indian Navy from Rear Admiral Vineet McCarty at a ceremonial naval parade held in Naval Dockyard, Mumbai.
  • Rear Admiral Nair was commissioned into the Indian Navy on 01 July 1991.
  • 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)

H S Prannoy exclusive banking partner of Federal Bank

  • Federal Bank had assumed HS Prannoy as exclusive banking partner.
  • As a visible symbol of this alliance, Prannoy will proudly display the Federal Bank logo during his participation in prestigious Badminton World Federation (BWF) events, such as the BWF Super Series, BWF Gold Series, and the BWF World Badminton Championship.
  • Additionally, Prannoy will prominently feature the logo and branding during post-match media interviews.
  • Federal Bank – 23/04/1931 (Founded) – Aluva, Kochi (HQ) – Shyam Srinivasan (MD & CEO) – “Your Perfect Banking Partner” (Tagline)

CMO of Tech Mahindra

  • Peeyush Dubey has joined Tech Mahindra as its new chief marketing officer.
  • Before joining Tech Mahindra, Dubey was the CMO at both Mindtree and LTI until 2022.
  • Prior to that, he worked for over a decade with Infosys as a global marketing head.
  • Tech Mahindra – 24/10/1986 (Founded) – Pune (HQ) – Anand Mahindra (Chairman)

Ranks and Indices

QS Asia Rankings 2024

  • QS Quacquarelli Symonds, the renowned global higher education analysts, have just released their Asian edition of the 2024 QS World University Rankings featuring a whopping 856 institutions hailing from 25 different countries and territories.
  • Peking University secured the top spot for the second consecutive year, while the University of Hong Kong climbed to second place.
  • The National University of Singapore (NUS) wrapped up the top three.
  • IIT Bombay (40), IIT Delhi (46), IIT Madras (53), IISC Bangalore (58), IIT Kharagpur (59), IIT Kanpur (63) & University of Delhi (94).
  • India now features 148 universities, a significant increase from the previous year.
  • It is followed by China with 133 universities and Japan with 96 universities.
  • Additionally, Myanmar, Cambodia, and Nepal make their first-ever appearances in the rankings.

Sports News

Hulic Daihatsu Japan Para Badminton tournament

  • Para Asian Games gold medallist shuttler Pramod Bhagat bagged gold medal at the just-concluded Hulic Daihatsu Japan Para Badminton International tournament in Tokyo.
  • Sukant Kadam lost to Malaysia’s Mohd Amin Burhanuddin in the semifinals to secure a bronze medal in the singles SL4 category.
  • Nehal Gupta and Naveen Sivakumar also secured a gold medal for India in men’s doubles SL3-SL4 category beating compatriots Deep Ranjan Bisoyee and Manoj Sarkar in the final.
  • Manisha Joshi secured a bronze medal in women’s SL3 category.
  • Hardik Makkar and Ruthick Ragupathi bagged bronze in men’s doubles SU5 division.
  • Thulasimathi Murugesan secured a silver in women’s SU5 category and Manish Ramdass secured the bronze.
  • Manasi Joshi and Thulasimathi Murugesan then teamed up to win a gold medal in women’s doubles SL3-SU5 category, beating the Indonesian pair of Leani Ratri Oktila Khalimatus Sadiyah in the final.

Important Days

World Diabetes Day

  • World Diabetes Day is annually observed on November 14.
  • Diabetes is a chronic disease, which occurs when the pancreas does not produce enough insulin, or when the body cannot effectively use the insulin it produces.
  • This leads to an increased concentration of glucose in the blood (hyperglycaemia).
  • Type 1 diabetes (previously known as insulin-dependent or childhood-onset diabetes) is characterized by a lack of insulin production.
  • Type 2 diabetes (formerly called non-insulin-dependent or adult-onset diabetes) is caused by the body’s ineffective use of insulin. It often results from excess body weight and physical inactivity.
  • In 2007 United Nations General Assembly adopted resolution 61/225 designating 14 November as World Diabetes Day.
  • The theme for World Diabetes Day 2021-23 is access to diabetes care.
  • United Nations General Assembly – 1945 (Founded) – New York City (HQ) – Dennis Francis (President)

Children’s Day 2023

  • Children’s Day is annually celebrated on November 14 in India.
  • The day is celebrated to commemorate the birth anniversary of India’s first Prime Minister Jawaharlal Nehru.
  • The day is celebrated to honour Pandit Nehru, who was also popularly known as ‘Chacha Nehru’, for his love for children and his dedication to nurturing young minds.
  • In 1957, November 14 was officially declared Children’s Day in India, marked even by the issuance of special stamps by the Postal Department.
  • Theme – ‘For every child, every right’

Defence

Igla anti-aircraft missiles

  • Russia has signed a contract to supply Igla-S hand-held anti-aircraft missiles to India and allow production of the Igla there under licence.
  • The Igla-S is a man-portable air defence system (MANPADS) that can be fired by an individual or crew to bring down an enemy aircraft.
  • India is the world’s largest arms importer and Russia remains its largest supplier.
  • According to the Stockholm International Peace Research Institute (SIPRI), Russia accounted for 45% of India’s arms imports between 2018 and 2022, with France providing 29% and the United States of America 11%.
  • Russia – Moscow (Capital) – Russian Ruble (Currency) – Vladimir Putin (President) – Mikhail Mishustin (Prime Minister) – Russian (Language) – Asia

Daily Current Affairs - November 14 & 15, 2023 - Consolidated

  • First Woman to Skydive from 21,500 feet Near Mt Everest
  • Food safety compliance system portal
  • 9th India International Science Festival (IISF) 2023
  • 3rd in-person Ministerial meeting of the Indo-Pacific Economic Framework (IPEF)
  • “Ama Hospital” (Our Hospital)
  • ADB approved $100 million loan to Tripura
  • Natural Capital Fund (NCF)
  • IRDAI issued exposure draft on EoM for insurers based on RRC suggestions
  • Wholesale Price Index in October 2023
  • ArcelorMittal Nippon Steel India Signed MoU With Odisha
  • Bharat Web3 Association signed MoU with Maharashtra State Skills university
  • India signed MoU with USA
  • Satellite internet services in India
  • NASA-ISRO Synthetic Aperture Radar (NISAR)
  • Airgun Surrender Abhiyan initiative
  • Flag Officer Commanding The ‘Sword Arm’ of Indian Navy
  • H S Prannoy exclusive banking partner of Federal Bank
  • CMO of Tech Mahindra
  • QS Asia Rankings 2024
  • Hulic Daihatsu Japan Para Badminton tournament
  • World Diabetes Day
  • Children’s Day 2023
  • Igla anti-aircraft missiles

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