NATIONAL UPDATES:
1. Cabinet approves PM-Vidyalaxmi scheme to provide financial support to meritorious students: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved PM Vidyalaxmi, a new Central Sector scheme that seeks to provide financial support to meritorious students so that financial constraints do not prevent anyone from pursuing higher studies.As per the scheme, anybody who gets admission to Quality Higher Education Institutions (QHEIs) will be eligible to get collateral-free, guarantor-free loans from banks and financial institutions to cover the full amount of tuition fees and other expenses related to the course.An outlay of ₹3,600 crore has been approved for the scheme under which education loans will be facilitated to students securing admissions in the top 860 QHEIs of the country based on the National Institutional Ranking Framework (NIRF). This will cover more than 22 lakh students every year.
2. Cabinet approves infusion of Rs 10,700 crore equity in FCI to strengthen: The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, has approved infusion of equity of 10,700 crore for working capital in financial year 2024-25 in Food Corporation of India (FCI).The decision is aimed at bolstering the agricultural sector and ensuring the welfare of farmers nationwide. This strategic move shows the Government’s steadfast commitment to supporting farmers and fortifying India’s agrarian economy.FCI started its journey in 1964 with authorised capital of Rs. 100 Crores and equity of Rs. 4 Crores. The operations of FCI increased manifolds resulting in increase of authorised capital from Rs. 11,000 crores to Rs. 21,000 crores in February, 2024.The equity of FCI was Rs. 4,496 Crores in Financial Year 2019-20 which increased to Rs. 10,157 Crores in the Financial Year 2023-24. Now, Government of India has approved significant amount of equity of Rs. 10,700 Crores for FCI which will strengthen it financially and will give a big boost to the initiatives taken for its transformation.
3. Andhra Pradesh CM launches Deepam 2.0 Scheme to provides free Gas Cylinders to Eligible Families: Andhra Pradesh Chief Minister Chandrababu Naidu has launched the Deepam 2.0 scheme in Edupuram, Ichapuram Mandal, Srikakulam district, as part of the “Super Six Promises” initiative.This program provides free gas cylinders to eligible families, aiming to improve their quality of life.Marking the formal launch of the Deepam 2.0 scheme, the Chief Minister flagged off gas cylinder delivery vehicles and personally handed over the first cylinder to beneficiary Ambati Shantamma.Addressing the public meeting at ‘Praja Vedika,’ he assured that the cost of the gas cylinders would be refunded to all beneficiaries within 48 hours.He further announced that beneficiaries now could take social pensions once every three months.
4. MP Cabinet Increases Women’s Reservation In State Government Jobs To 35%: Madhya Pradesh cabinet has approved a proposal to raise the reservation for women in state government jobs from 33% to 35%. The decision was made during a cabinet meeting led by Chief Minister Mohan Yadav.The increased 35% women’s quota will apply to all recruitments conducted by the state Public Service Commission and the Employees Selection Board.The cabinet ratified the chief minister’s September 13, 2023, decision and subsequent notification under the Madhya Pradesh Civil Services (Special Provisions for Appointment of Women) Rules, 1997.
INTERNATIONAL UPDATES:
1. 7 November – Infant Protection Day: Infant Protection Day is observed every year on November 7.Objective – To raise awareness about the importance of ensuring the safety, health and well-being of infants.Theme 2024 – Protecting Our FutureThis day serves as a reminder of the vulnerabilities that newborns and infants face and the critical role that society plays in safeguarding their future. It encourages parents, caregivers, healthcare professionals and communities to come together and take actions that can reduce infant mortality rates, promote healthy development, and create a safe environment for infants to thrive.
OTHER UPDATES:
DEFENCE
1. 21st Edition of India – US Military Cooperation Group meeting held in New Delhi: The 21st edition of India – US Military Cooperation Group (MCG) meeting was conducted at the Manekshaw Centre, New Delhi.The meeting covered a wide range of topics, including capacity building, training exchanges, defence industrial cooperation and the advancement of joint exercises that bolster preparedness for conventional and hybrid threats.The MCG is a landmark forum aimed at enhancing defence cooperation and fostering strategic and operational defence collaboration between the Armed Forces of both countries.The 21st MCG meeting represents a step forward in advancing the shared objectives of India and US to ensure regional and global security, counter emerging threats and build mutual capabilities.
SPORTS
1. Mandeep Jangra wins WBF super featherweight world title: Haryana’s professional boxer Mandeep Jangra won the World Boxing Federation’s super featherweight world title by beating the British boxer Conor McIntosh.The World Boxing Federation’s super featherweight world title match was held in the Cayman Islands.The 31-year-old Indian boxer who trains under legendary American boxer Roy Jones Junior turned professional in 2021.Before turning professional, Mandeep Jangra won a silver medal in the 2013 Asian Championship and a silver medal at the 2014 Glasgow Commonwealth Games.In 2015, the government of India awarded Mandeep the Arjuna Award.
SCIENCE AND TECHNOLOGY
1. ISA hosts the third edition of the High-level Conference on New Technologies for Clean Energy Transition: The International Solar Alliance, in a global collaboration with the Ministry of New & Renewable Energy, the Government of India, the Asian Development Bank, and the International Solar Energy Society, organised the third edition of the High-level Conference on New Technologies for Clean Energy Transition.This significant event took place on the sidelines of the Seventh Session of the ISA Assembly in New Delhi uniting stakeholders worldwide.The conference’s overarching goal is to translate dialogue into action. Deep-dive sessions focusing on new-age solar technologies, emerging storage technologies, and unleashing solar’s role in accelerating equitable economic, and social.An added attraction at the inaugural was the launch of the third edition of the World Solar Report series. Launched in 2022, the series provides a concise overview of global advancements, challenges, and trends in solar technology, markets, and investments.
2. ISRO set to launch EU’s Proba 3 Sun observation mission in December 2024: The Indian Space Research Organisation (ISRO) is set to launch the European Union’s Proba 3 Sun Observation Mission in December.The two satellites for the Proba-3 mission, aimed at studying the Sun, arrived at Sriharikota to be integrated with ISRO’s Polar Satellite Launch Vehicle (PSLV).The Proba-3 satellite, which arrived in Sriharikota this morning is designed to observe the Sun’s faint corona. This mission marks India’s third launch for the European Union, following support for the Proba-1 and Proba-2 satellites, but stands out due to its focus on solar observation.The two Proba-3 spacecraft will be launched together on a PSLV-XL launcher and placed in a highly elliptical orbit, reaching up to 60,000 km from Earth before descending as close as 600 km.This high orbit is essential because the spacecraft will conduct active formation flying for around six hours at maximum altitude, where Earth’s gravitational influence is weaker, reducing the amount of propellant needed for position adjustments.
BANKING AND FINANCE
1. Paytm launches UPI statement download for easy expense tracking: One97 Communications Limited (OCL), which owns Paytm, India’s leading digital payments and financial services provider, has launched a new feature allowing users to download UPI statements directly from the app.This service enables users to access and monitor their financial transactions for any date range or financial year in a simple PDF format.The UPI statement download feature addresses the rising demand among Paytm users for greater transparency and control over their finances. Users can now view detailed transaction data, including transaction amounts, recipient information, bank details, and timestamps, all organized for easy reference.In addition to this latest feature, Paytm offers other UPI-based services, such as Peer-to-Peer (P2P) bank transfers, UPI Lite for small transactions under ₹2,000 to prevent cluttered bank statements, and the option to link RuPay Credit Cards with UPI for seamless bill payments. Users can also check bank balances and make self-account transfers with ease on the app.
2. Indian Overseas Bank Unveils Online Re-KYC Service for Hassle-Free Updates: Indian Overseas Bank (IOB) has unveiled an online Re-KYC service to simplify the Know Your Customer (KYC) update process for its customers.This digital initiative allows clients to update their KYC information without visiting a branch, enhancing convenience and accessibility.With this online Re-KYC option, customers who have already submitted valid KYC documents can update their information using one of three convenient channels: Website: Visit iob.in, go to the Self-Service Digital Hub on the homepage, select “Re-KYC,” and follow the prompts to complete the process.
SMS: Send an SMS in the format “REKYC <Space> CIF ID” to 9643-01-9643 from your registered mobile number (e.g., REKYC 198979695). Email: Send an email with the subject “REKYC <Space> CIF ID” to rekyc@iob.in from your registered email address (e.g., REKYC 198979695).
3. GoI and ADB sign $200 million loan to upgrade water supply, sanitation, urban mobility, and other urban services: The Government of India and the Asian Development Bank (ADB) signed a $200 million loan to help upgrade water supply, sanitation, urban mobility, and other urban services in the state of Uttarakhand.The project aims to create urban infrastructure that is resilient to climate and environmental risks such as floods and landslides, ensuring the safety and health of Uttarakhand’s population.The project will enhance transportation, urban mobility, drainage, flood management, and overall public services in Haldwani, the economic hub of the state. Additionally, it will improve water supply delivery in four cities – Champawat, Kichha, Kotdwar, and Vikasnagar – by developing efficient and climate-resilient water supply systems.
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