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Daily Current Affairs – November 17, 2023

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Daily Current Affairs - Banking - November 17, 2023

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National News

Nationwide Roadshow on Digital India RISC-V (DIR-V) Program

  • Union Minister of State for Skill Development & Entrepreneurship and Electronics & IT Shri Rajeev Chandrasekhar flagged off the Nationwide Roadshow on Digital India RISC-V (DIR-V) Program.
  • This roadshow is being jointly organized by C-DAC, IEEE India Council and Ministry of Electronics & Information Technology with participation from global leaders in the RISC-V design area.
  • C-DAC has now created a series of ARIES Development Boards based on VEGA Processor Chip viz. ARIES Micro, ARIES V2, ARIES V3, ARIES IoT and ARIES DOT.
  • These development kits are fully indigenous and ‘Made in India’ products targeted for learning, embedded system design, and IoT applications.
  • The boards, built upon the RISC-V ISA-compliant VEGA Processor, come with easy-to-use hardware and software.
  • Ministry of Electronics and Information Technology – Ashwini Vaishnaw, Cabinet Minister (Rajya Sabha MP, Odisha) – Rajeev Chandrasekhar, Minister of State (Rajya Sabha MP, Karnataka)


‘PM SHRI’ initiative

  • State Project Director of Samagra Shiksha B. Srinivasa Rao said that special training would be given to the teachers of schools selected for ‘PM SHRI’ initiative.
  • The five-day training session would be organised at IIT-Tirupati.
  • ‘PM SHRI’ school is a Centrally-sponsored initiative launched on 07/09/2022 intended to develop more than 14,500 schools to make every student feel welcomed and cared for, where a safe and stimulating learning environment exists, where a wide range of learning experiences are offered, and where good physical infrastructure and appropriate resources conducive to learning are available to all students.
  • The Scheme is proposed to be implemented over a period of 5 years w.e.f. 2022-23 to 2026-27.
  • Telangana – Hyderabad (Capital) – K Chandrashekar Rao (CM) – Tamilisai Soundarajan (Governor) –Telugu (Language)

'Gruha Lakshmi' scheme

  • The presiding deity of Mysuru Goddess Chamundeshwari will be among the beneficiaries of the Karnataka government’s ‘Gruha Lakshmi’ scheme, offering Rs 2,000 to the woman head of the families holding an APL/BPL card.
  • Instructed the Women and Child Welfare Minister Laxmi Hebbalkar to deposit the amount to the Chamundeshwari temple account every month.

Banking and Finance

Monetary penalty by RBI

  • Reserve Bank of India (RBI) had imposed a monetary penalty of Rs 90.93 lakh on Axis Bank for non-compliance with certain directions issued by RBI on ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’, ‘Loans and Advances – Statutory and Other Restrictions’, ‘Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks’ and ‘Code of Conduct for Opening and Operating Current Accounts’.”
  • This penalty has been imposed in the 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.
  • Axis Bank – 03/12/1993 (Founded) – Mumbai (HQ) – Amitabh Chaudhry (MD & CEO) – “Badhti Ka Naam Zindagi” (Tagline)

Reserve Bank of India net sells $1.5 billion foreign currency in September

  • The central bank recorded a net total of $1.5 billion in foreign currency sales in September.
  • During the same period, the RBI purchased $27.8 billion and sold $29.3 billion worth of foreign currency.
  • In August, the RBI reported a net sale of $3.9 billion in the spot market, marking the first time it became a net seller of the dollar in the current financial year (2023-24).
  • During the second quarter of the current financial year, the RBI acquired a net total of $1.9 billion in foreign currency, a significant decrease from the $33.7 billion recorded in the same quarter of the previous financial year (2022-23).
  • For the first six months of the current financial year, the central bank made a net purchase of $17.7 billion, a stark contrast to the net sale of $33.4 billion in the first half of the previous financial year.
  • Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)

RBI hiked risk weights on unsecured bank, NBFC loans by 25%

  • The Reserve Bank of India has increased the risk weights on unsecured consumer loans, including credit cards, by 25% for both banks and NBFCs in response to the unprecedented growth in unsecured retail loans and the consequent concerns regarding rising systemic risk.
  • Accordingly, outstanding and new consumer credit exposure of commercial banks and retail loans of NBFCs, excluding housing, education and vehicle loans, and loans secured by gold and gold jewellery, will now attract risk weights of 125% against the current 100%, with immediate effect.
  • For NBFCs, microfinance and SHG (self-help group) loans will also be excluded from the higher risk weights.

Business and Economy

S&P Global India’s economic growth

  • According to S&P Global, India’s economic growth prospects remain robust over the medium term, with its gross domestic product (GDP) expected to grow between 6% and 1% annually in 2023-24 (FY24) through 2025-26.
  • S&P Global Inc. – 1917 (Founded) – New York (HQ) – Douglas L. Peterson (President & CEO)

Agreements and MoUs signed

CNH signed MoU with ICAR Institute

  • Farm equipment maker CNH Industrial has signed a memorandum of understanding (MoU) with the Indian Council of Agricultural Research – Central Institute of Temperate Horticulture (ICAR-CITH), Srinagar to collaborate on fruit harvesting technology in India.
  • The partnership will focus on enhancing the mechanization of fruit harvesting, specifically apples, integrating cutting-edge techniques.
  • It will also foster the development of innovative solutions tailored to India’s unique agricultural challenges.
  • As per the MoU, CNH will oversee the design and development process of harvesting.
  • The company will supply prototypes for field tests and make improvements based on the trial outcomes.
  • ICAR-CITH will support image collection, logistics and operational aspects.
  • The institute will analyze field test data such as picking efficiency, post-harvest losses, and the impact on fruit quality.


New species of small life forms recorded from northeast

  • Researchers and specialists have recorded several small life forms from the north-eastern region after years of studying samples.
  • Stefan Naumann, an associate of Berlin’s Museum fur Naturkunde and Peter Smetacek of the Bhimtal-based Butterfly Research Centre described 11 emperor moths (Saturniidae) species new to science in Bionotes journal.
  • Nine of these are from Arunachal Pradesh and Assam.
  • These include the Mishmi moon moth (Actias smetaceki) from Arunachal Pradesh and the Shan moon moth (Actias loeffleri) from northern Myanmar.
  • The largest of the 11 moths recorded with a wingspan of 13.6 cm is Loepa himalayana found in Arunachal Pradesh and Tibet.
  • Out of more than 1,300 known species of moths belonging to the Saturniidae family, including the emperor moths, some 100 are from India.
  • A new frog recorded from Namdapha in Arunachal Pradesh is Alcalus fontinalis thus named because of small streams or brooks where it was found in May 2022.
  • A team led by Abhijit Das of the Wildlife Institute of India has described this frog with dilated toes and wrinkled skin.
  • According to the researchers, frogs of the Alcalus genus found in the Philippines and Thailand were hitherto unknown in India.
  • Arunachal Pradesh also yielded the Alycaeus himalayae, a snail found in a small limestone cave in the East Siang district.
  • A team led by Neelavar Ananthram Aravind of the SM Sehgal Foundation Centre for Biodiversity and Conservation at the Ashoka Trust for Research in Ecology and the Environment recorded the snail.
  • It is the only Aycaeus species inhabiting the Himalayas.
  • All other recorded snails belonging to this genus have been reported from Laos, Vietnam, southern Thailand, and Peninsular Malaysia.
  • Another new species of snail, Cycloryx pemaledai, was also reported from Sikkim.
  • Researchers of the Zoological Survey of India and Kalyani University recorded 19 new scarab beetle species from Mizoram by studying specimens collected between 1993 and 2019.
  • Scarab beetles belong to the Scarabaeidae family which includes the dung beetles or coprophagous scarabs and plant-eating beetles or phytophagous scarabs.
  • The latest find was Cyrtodactylus vairengtensis, a bent-toed gecko named after Mizoram’s Vairengte area from where it was recorded.
  • The report on this new species was published in the Zootaxa journal.


Consumer Affairs Ministry set up committee to draft “Safety Pledge”

  • The Department of Consumer Affairs (DoCA) has set up a committee to draft “Safety Pledge” to prevent sale of hazardous goods on e-commerce platforms.
  • The pledge, a voluntary commitment for e-commerce platforms, is aimed to ensure that appropriate measures are taken by the platforms to prevent sale of unsafe goods online.
  • Rohit Kumar Singh, Secretary, Department of Consumer Affairs chaired a stakeholder consultation on the same.
  • The committee, which includes members from e-commerce platforms, consumer associations, industry bodies and National Law Universities, will submit its report in two weeks.
  • Ministry of Consumer Affairs, Food and Public Distribution – Piyush Vedprakash Goyal,Union Minister (Rajya Sabha MP,Maharashtra) – Niranjan Jyoti,Minister of State (Fatehpur,UP) & Ashwini Kumar Choubey,Minister of State (Bhagalpur,Bihar)

Awards and Recognitions

2023 Olympic Cup

  • The 2023 Olympic Cup has been awarded to the Taekwondo Humanitarian Foundation (THF) in recognition of its long-term commitment to supporting refugee athletes and refugees worldwide through taekwondo.
  • The President of the International Olympic Committee (IOC), Thomas Bach, presented the Cup at the Olympic Museum in Lausanne.
  • Taekwondo Humanitarian Foundation (THF) – 2015 (Founded) – New York (HQ)

Maharashtra’s ‘Lata Mangeshkar Award’

  • The Maharashtra government has selected veteran playback singer and National Award winner Suresh Ishwar Wadkar for its prestigious ‘Gansamragini Lata Mangeshkar Award’ for 2023.
  • He was a wrestler and then became a music teacher in Mumbai before winning a singing competition 1976 that got him his first playback singing break with the late music director Ravindra Jain in 1977.
  • Maharashtra – Mumbai (Capital) – Eknath Shinde (CM) – Ramesh Bais (Governor) – Marathi (Language)

Host for 96th Oscars Awards

  • Jimmy Kimmel will host the 96th Oscars.
  • This will be Kimmel’s fourth turn hosting the broadcast (89th, 90th & 95th).
  • Emmy-nominated Molly McNearney will also return to serve as an executive producer on the show for the second consecutive year.
  • It will also be executive produced by Raj Kapoor and Katy Mullan, with Kapoor also serving as showrunner, while Hamish Hamilton will direct the show.

Golden Peacock Award for Excellence in Corporate Governance – 2023

  • HDFC Life had won the prestigious Golden Peacock Award for Excellence in Corporate Governance for the year 2023.
  • The Golden Peacock Awards Secretariat, Institute of Directors, India, adjudged the Awards under the Chairmanship of Hon’ble Justice N. Venkatachaliah, former Chief Justice of India and former Chairman, National Human Rights Commission of India and National Commission for Constitution of India Reforms.
  • The award was presented at the Golden Peacock Awards Presentation Ceremony in London in the presence of business and industry leaders during the ‘IOD India’s 2023 Annual London Global Convention on Corporate Governance & Sustainability’, including the Global Business Meet at the House of Lords – UK Parliament in London.
  • HDFC Life Insurance Company Ltd. – 2000 (Founded) – Mumbai (HQ) – Vibha Padalkar (MD & CEO)

Important Days

International Week of Science and Peace

  • International Week of Science and Peace (IWOSP) is annually celebrated from November 9 to 15.
  • The week was first observed during 1986 as part of the observance of the International Year of Peace.
  • The annual observance of the International Week of Science and Peace is making an important contribution to the promotion of peace.
  • The Week encourages greater academic exchanges on a subject of universal importance while also generating greater awareness of the relationship of science and peace among the general public.

National Newborn Care Week 2023

  • National Newborn Care Week is annually observed from November 15 to 21 in India.
  • The main goal is to make people aware of how important it is to take care of newborns for their health and growth.
  • In 2014, India was the first country to start the India Infant Action Plan (INAP).
  • It follows the Global Every Newborn Action Plan and aims to stop unnecessary baby deaths and stillbirths.
  • On November 15, 2021, there was an online event for National Newborn Week at the Ministry of Health and Family Welfare.
  • Theme – ‘Safety, quality, and nurturing care – birthright of every newborn.’
  • Ministry of Health and Family Welfare – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Dr. Bharati Pravin Pawar,Minister of State (Dindori,Maharashtra), Satya Pal Singh Baghel ,Minister of State (Agra,UP)

International Students' Day 2023

  • International Students’ Day 2023 is annually celebrated on November 17.
  • It is the anniversary of the Nazi invasion of a university in Prague in
  • The Nazis imprisoned around a thousand students, closed the university, and killed several people.

National Epilepsy Day 2023

  • National Epilepsy Day is annually celebrated on November 17.
  • The day is celebrated to raise awareness around epilepsy and also its impact on people, families and the society.
  • The day was first observed by the Epilepsy Foundation of India and was established by Dr Nirmal Surya.
  • Epilepsy is a disorder in which nerve cell activity in the brain is disturbed, causing seizures.


‘Amini’, an Arnala class of ship for Indian Navy

  • ‘Amini’, an Arnala class of ship for Indian Navy, was launched at L&T Shipbuilding’s facility in Kattupalli, Tamil Nadu.
  • The 4th of 08 x ASW Shallow Water Craft (SWC) project being built by the state-owned Garden Reach Shipbuilders & Engineers Ltd (GRSE), Amini is designed to undertake anti-submarine operations in coastal waters and also low intensity maritime operations (LIMO) and mine laying operations.
  • The launch ceremony was presided over by Vice Admiral Sandeep Naithani, Chief of Materiel, and his wife Manju Naithani launched the ship to the invocation from Atharva Veda.
  • The ship has been named Amini to signify the strategic maritime importance accorded to the island of Amini at Lakshadweep, located about 400 km west of Kochi.

Indian navy completes second Gulf of Guinea anti-piracy patrol

  • INS Sumedha is on an Extended Range Operational Deployment and is currently operating in the Atlantic Ocean along the West Coast of Africa.
  • During this period, INS Sumedha operated in the Gulf of Guinea (GoG) undertaking a 31 days anti-piracy patrol.
  • This is the second such patrol being undertaken by the Indian Navy in this crucial maritime region.
  • The maiden GoG Anti piracy patrol was undertaken by INS Tarkash in Sep – Oct 22.
  • 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 17, 2023 - Consolidated

  • Nationwide Roadshow on Digital India RISC-V (DIR-V) Program
  • ‘PM SHRI’ initiative
  • ‘Gruha Lakshmi’ scheme
  • Monetary penalty by RBI
  • Reserve Bank of India net sells $1.5 billion foreign currency in September
  • RBI hiked risk weights on unsecured bank, NBFC loans by 25%
  • S&P Global India’s economic growth
  • CNH signed MoU with ICAR Institute
  • New species of small life forms recorded from northeast
  • Consumer Affairs Ministry set up committee to draft “Safety Pledge”
  • 2023 Olympic Cup
  • Maharashtra’s ‘Lata Mangeshkar Award’
  • Host for 96th Oscars Awards
  • Golden Peacock Award for Excellence in Corporate Governance – 2023
  • International Week of Science and Peace
  • National Newborn Care Week 2023
  • International Students’ Day 2023
  • National Epilepsy Day 2023
  • ‘Amini’, an Arnala class of ship for Indian Navy
  • Indian navy completes second Gulf of Guinea anti-piracy patrol

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