NATIONAL UPDATES:
1.
Indo-Pacific Regional Dialogue 2022 Begins in New Delhi: The three-day apex-level regional strategic dialogue of the Indian
Navy, the fourth edition of “Indo-Pacific Regional Dialogue 2022” (IPRD-2022)
began in New Delhi. The theme of IPRD-2022 is “Operationalising the
Indo-Pacific Oceans Initiative (IPOI)”, which was articulated by Prime Minister
Narendra Modi at the 14th East Asia Summit (EAS) in Bangkok on November 4,
2019, the defence ministry said.
Inaugural
session of the event kicked off with Adm Karambir Singh (retd), the incumbent
Chairman of the National Maritime Foundation, and former Chief of the Naval
Staff, welcoming all present and highlighting the importance of the
Indo-Pacific in the prevailing geopolitical scenario, focusing specially upon
India’s maritime policy encapsulated by the acronym SAGAR (Security And Growth
for All in the Region) and the first-order specificity provided to SAGAR by the
Indo-Pacific Oceans Initiative (IPOI). About IPRD:
a) The IPRD is an annual international conference that seeks to foster
exchange of ideas and promote deliberations on maritime issues relevant to the
Indo-Pacific which, for India, stretches over a vast, predominantly maritime
expanse from the eastern shore of Africa to the western shore of America.
b) The IPRD is an apex-level international annual conference of the Navy
and the principal manifestation of the Navy’s engagement at the strategic
level.
c) The National Maritime Foundation (NMF) is the Navy’s knowledge partner
and chief organiser of each edition of the event.
2. Govt
Unveils Framework to Curb Fake Reviews On Ecommerce Platforms: Aiming to guard customers from fake online reviews of products, the
Union government on released a comprehensive set of guidelines which would come
into effect from November 25 and would be voluntary in nature. IS 19000:2022 is
the standard that the BIS [Bureau of Indian Standards] has formulated for us,
in consultation with us and the industry. Public consultations have taken
place. Now, this is launched on 25th November. The guidelines titled “Indian
Standard (IS) 19000:2022 Online Consumer Reviews – Principles and Requirements
for their Collection, Moderation and Publication”, will be applicable to every
online platform which publishes consumer reviews.
“Taking
cognizance of the impact of fake and deceptive reviews and protection of
consumer interest in e-commerce, the Department of Consumer Affairs constituted
a committee to develop a framework on checking fake and deceptive reviews in
e-commerce on 10th June, 2022. The committee included various stakeholders
including e-commerce companies, industry associations, consumer organizations
and law chairs,” the statement said.
The secretary
said that companies like Zomato, Swiggy, Reliance Retail, Tata Sons, Amazon,
Flipkart, Google, Meta, Mesho, Blinkit and Zepto were part of the consultation
process and they have assured compliance with these standards.
3. UP chief minister Yogi Adityanath
inaugurates the UNESCO-India-Africa Hackathon 2022: Uttar Pradesh chief
minister Yogi Adityanath has inaugurated the UNESCO-India-Africa Hackathon 2022
at the Gautam Buddha University in Greater Noida, Uttar Pradesh. The Hackathon
has been organized by the Union Ministry of Education and students from 22
African countries are participating in the Hackathon. The UNESCO India-Africa
Hackathon event is seeing the participation of 603 students who will engage in
coding for 36 hours non-stop to find technology-based solutions for issues
prevailing in the field of education, agriculture, health, energy and drinking
water, among others.
The U.P. CM also invited participating
African students to travel to ancient cities like Varanasi, Prayagraj, Ayodhya,
and others in the state. Students from Botswana, Cameroon, Eswatini, Ethiopia,
Equatorial Guinea, Gambia, Ghana, Guinea Bissau, Kenya, Lesotho, Malawi, Mali,
Mauritius, Morocco, Mozambique, Namibia, Niger, Sierra Leone, Tanzania, Togo,
Uganda and Zimbabwe will take part in the event.
Note: UNESCO Founded: 16 November 1945;
UNESCO Headquarters: Paris, France; UNESCO Members: 193 countries
4. ISRO
set to Launch PSLV-C54/EOS-06 Mission in November: The Indian Space Research Organization is set to launch PLV-C54/EOS-06
Mission with Oceans-3 and eight nanosatellites on board from Sriharikota
spaceport. The PLV-C54/EOS-06 Mission includes EOS-06 (Oceans-3), plus eight
nanosatellites which are BhutanSat, ‘Anand’ from Pixxel, Thybolt two numbers
from Dhurva Space and Astrocast-four numbers from Spaceflight USA. Key
Points:
a) The Indian Space Agency’s Vikram Sarabhai Space Centre has conducted the
Integrated main parachute airdrop test (IMAT).
b) The parachute airdrop test was conducted in Jhansi, Uttar Pradesh
c) The Gaganyaan deceleration system consists of three main parachutes,
besides smaller ACS, pilot, and drogue parachutes.
d) Two of the three main chutes are sufficient to land the astronauts on
earth, and the third is redundant.
e) The IMAT test is the first in a series of integrated parachute airdrop
tests planned to simulate different failure conditions of the parachute system.
f)
The design and development of the parachute-based
deceleration system is a joint venture of ISRO and the Defence Research and
Development (DRDO).
5. National Cadet Corps celebrates
74th Anniversary day: National Cadet Corps (NCC), the largest uniformed youth
organisation in the world raised in 1948, will celebrate its 74th anniversary
on November 27, 2022. To mark the occasion, Defence Secretary Shri Giridhar
Aramane laid a wreath and paid homage to the fallen heroes on behalf of the
entire NCC fraternity at National War Memorial, New Delhi on November 26, 2022.
Notably: NCC Day is observed on the fourth
Sunday of November. The NCC was raised on 15th July 1948 in New Delhi, which
was the fourth Sunday of the November month in 1948. For this reason the NCC
raising Day is observed every year on the fourth Sunday of the November Month.
INTERNATIONAL UPDATES:
1. Canada’s Brampton city gets first
turbaned Sikh Harkirat Singh as deputy mayor: Brampton city in
Canada got its first turbaned Sikh deputy mayor with the appointment of
Harkirat Singh. Harkirat Singh, who represents wards 9 and 10, has been
appointed deputy mayor from 2022-26. The deputy mayor presides at council and
other committee meetings and assumes ceremonial and civic event duties on
behalf of the mayor if the mayor is absent or unavailable.
In the present Canadian Parliament there
are 18 Sikhs members. Currently Harjit Sajjan, Bardish Chagger are the two
Sikhs who are ministers in the Justin Trudeau government in Canada. Prior to
his role as councillor, he served a four-year term as school trustee at the
Peel District School Board.
Note: Canada Capital: Ottawa; Canada Prime
minister: Justin Trudeau; Canada Currency: Canadian Dollar.
2. Anwar
Ibrahim Sworn in As Malaysia’s New Prime-Minister: Malaysia’s veteran opposition leader Anwar Ibrahim has been sworn in as
the country’s new prime minister, after several days of post-election deadlock.
The new leader was appointed by King Sultan Abdullah, after elections over the
weekend resulted in an unprecedented hung parliament.
Neither Mr Anwar
nor ex-premier Muhyiddin Yassin had won the simple majority needed to form a
government. Mr Anwar’s Pakatan Harapan (PH) party, which won the biggest share
of seats in this election, does not have enough seats on its own to form a
government.
About
Long Career of PM Anwar: The decision brings to an
end a remarkable political odyssey for Anwar Ibrahim, a brilliant orator and,
25 years ago, a fast-rising star everyone expected would replace then-prime
minister Mahathir Mohammad. It was not to be. He and Mr Mahathir fell out over
the handling of the Asian financial crisis, and he was jailed on what were
widely believed to be politicised corruption and sodomy charges. His conviction
was overturned in 2004, and he returned to politics, leading his own reformist
party close to defeating the UMNO party in the 2013 election, only to have new
sodomy charges filed against him, and being sent back to jail in 2015.
OTHER UPDATES:
SPORTS
1. Army
Red Team Won 72nd Inter Services Volleyball Championship 2022-23: The Army Red Team has won the 72nd Inter Services Volleyball
Championship 2022-23. The Army Red team emerged victorious with a set score of
3-1. The closing ceremony of the Championship was organized at Eagles Indoor
Volleyball Stadium in Secunderabad. Key Points:
a) Two teams of the Indian Army, Red, and Green beside one team each of the
Indian Navy and Indian Air Force participated in the event.
b) The event provided an opportunity for outstanding sportsmen for getting
selected for the Services Volleyball team.
c) Telangana and Andhra Sub Area officiating GoC, Brigadier K Somashankar
presented the trophy.
d) The closing ceremony of the 72nd Inter Services Volleyball Championship
for 2022-23 was conducted at Eagles Indoor Volleyball Stadium
e) The event provided an opportunity to sportsmen for getting selected for
the Services Volleyball team. The Army Red team emerged victorious with a score
of 3-1 (25-21, 19-25, 25-17, 26-24).
BANKING AND FINANCE
1. ICICI Bank Launches New Products
for NRIs at Its GIFT City Branch: Private sector lender ICICI Bank has
launched two new products – loan against deposits (LAD) and dollar bonds – for
non-resident Indians at its GIFT City branch in Gujarat. The bank is the first
to offer these products in GIFT City. Key Features of these offers:
a)
Loan
against Deposits (LAD): LAD resembles a loan in foreign currency against a
deposit in India (including Rupee NRE FDs). The customers can avail LAD for
their short-term cash requirement without having to prematurely close their
Term Deposits and thereby avoid paying a penalty for breaking the deposit. They
can avail up to 95%* of their deposit value. With a simple documentation
process, customers can get flexible tenure with fixed or floating interest
rates.
b)
Dollar
Bonds: It is an alternate investment option for NRIs, where they can book
dollar bonds through ICICI Bank in GIFT City. The Bank offers a cohort of over
50 marquee issuers/companies for these bonds.
The other key offerings at GIFT City
for the NRI customers:
a)
Global
Current Account: This is a non-interest-bearing account which does not require
any minimum balance. It helps NRIs to deposit money in India in foreign
currencies such as USD, EUR, GBP.
b)
Global
Savings Account: NRIs can deposit money for short term and earn interest in
this savings account.
c)
Term
Deposits: They are similar to Foreign Currency Non-Resident (FCNR) deposits
with minimum lock-in period of seven days compared to one year for FCNR in
India. Customers can deposit in currencies such as USD, EUR, GBP.
BUSINESS AND ECONOMY
1. Ministers’ Panel May Recommend
28% GST on Online Gaming: The panel of state finance ministers is likely to
recommend a uniform GST levy of 28 percent on online gaming irrespective of
whether it is a game of skill or a game of chance. Currently, online gaming
attracts 18 percent GST. The tax is levied on gross gaming revenue, which is
the fees charged by online gaming portals.
More About The Development: The Group of
Ministers (GoM), chaired by Meghalaya Chief Minister Conrad Sangma, had in its
earlier report submitted to the Council in June suggested a 28 percent GST on
the full value of the consideration, including contest entry fee, paid by the
player, without making a distinction such as games of skill or chance. However,
the Council had asked the GoM to reconsider its report.
Following that the GoM took the views of
the Attorney General and also met stakeholders from the online gaming industry.
Although the GoM deliberated on separate definitions for ‘games of skill’ and
‘games of chance‘, it finally decided to tax both as demerit goods attracting a
28 percent GST.
2. National Payments Corporation of
India in Talks with RBI on Volume Cap Deadline: National Payments
Corporation of India (NPCI), which runs the UPI digital pipeline, is in talks
with the Reserve Bank on implementation of its proposed deadline for limiting
the volume cap of players to 30 percent. NPCI runs the UPI digital pipeline.
Currently, there’s no cap on volume and Google Pay and PhonePe hold the market
share of about 80 per cent.
Back in November 2022, the NPCI had
proposed a 30 per cent volume cap for third-party app providers (TPAP). The
proposal was made to avoid concentration risk. However, the existing TPAPs such
as PhonePe and Google Pay were given two years more to comply with the orders.
Currently, the NPCI is evaluating all the
possibilities and no final decision has been taken to extend the December 31
deadline, adding that the corporation has also received proposals from the
stakeholders to extend the deadline.
3. India, China Leads as Global
Intellectual Property Filings Reached New Records in 2021: Global intellectual
property filings- of patents, trademarks, and designs-reached record levels in
2021 driven largely by increases from Asian countries of India, China, and
South Korea according to the World Intellectual Property Organisation (WIPO).
Strong growth in local patent filings in
India (+5.5 percent), China (+5.5 percent) and the Republic of Korea (+2.5 per
cent) drove the global growth in patent applications in 2021, propelling the
share of Asian filings to cross the two-thirds threshold, the report said.
Local patenting activity in the U.S. (-1.2 per cent), Japan (-1.7 per cent) and
Germany (-3.9 per cent) declined in 2021.
About The Report: The WIPO’s World
Intellectual Property Indicators (WIPI) report showed that innovators around
the world filed 3.4 million patent applications in 2021, up 3.6 per cent from
the previous year with offices in Asia receiving 67.6 per cent of all
applications worldwide.
Note: WIPO (World Intellectual Property
Organization Formation): 14th July 1967; Headquarter: Geneva, Switzerland
AWARDS AND HONOURS
1.
Tenzing Norgay National Adventure Awards 2021 Announced by GoI: The Ministry of Youth Affairs and Sports, Government of India announced
the National Adventure Award called “Tenzing Norgay Adventure Award” (TNNAA)
for the year 2021. The award is given in four categories which are Land
Adventure, Water Adventure, Air Adventure, and Life Time Achievement. Tenzing
Norgay National Adventure Awards are given annually to praise the achievement
of persons in the fields of adventure. The award encourages people to develop
the spirit of endurance, risk-taking, cooperative teamwork, and quick reflexes.
Tenzing
Norgay National Adventure Award Winners:
|
Sl. No. |
Name |
Category |
|
1 |
Ms. Naina Dhakad |
Land Adventure |
|
2 |
Shri Shubham Dhananjay Vanmali |
Water Adventure |
|
3 |
Group Captain Kunwar Bhawani Singh Samyal |
Lifetime Achievement |
2. Ravi
Kumar Sagar honoured with the prestigious Dr. Kalam Seva Puraskar: Ravi Kumar Sagar, one of the youngest founders and CEO of RK’S INNO
group was conferred with the most prestigious Dr. Abdul Kalam Seva Puraskar.
The award was presented to him for his persistent service to society and is one
of the youngest entrepreneurs in India. A young entrepreneur from the twin Telugu
states, Ravi Kumar Sagar also known as RK’S nailed it as a budding entrepreneur
during the Covid-19 pandemic in 2020.
When other businesses suffered huge losses due to the lockdown and the spread of the pandemic, Ravi Kumar Sagar started his entrepreneurship journey by selling PPE kits, sanitizers, and face masks to medical stores and hospitals. With the initial investment of Rs 50,000, Ravi Kumar Sagar was a success in generating his business turnover to a whooping Rs 2 crore.
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