NATIONAL UPDATES:
1.
Centre Sets Up Radhakrishnan Committee for Higher Educational Institutions: The
Ministry of Education has set up a high-level panel to strengthen the
assessment and accreditation of higher educational institutions. The panel will
be headed by Dr K Radhakrishnan, Chairperson, Board of Governors, IIT Kanpur.
He is also the chairperson of the Standing Committee of IIT Council. The
mandate of the committee includes strengthening the assessment and
accreditation processes and preparing a road map for the National Accreditation
Council envisioned in the National Education Policy, 2020.
Members
Of the Committee: Other members of the committee
include Mridul Hazarika, Vice-Chancellor, Mahapurusha Srimanta Sankaradeva
Viswavidyalaya, Assam; Bharat Bhasker, Professor, IIM, Lucknow and Joint
Secretary, Department of Higher Education, Ministry of Education.
2.
Haryana CM Launched ‘CM dashboard’ for Live Monitoring of Departments: Haryana
Chief Minister Manohar Lal Khattar launched the ‘CM Dashboard’ portal that will
have real-time data of all departments and decisions taken on major schemes. The
‘CM Dashboard’ portal will provide live monitoring of every department at the
block, district, and panchayat levels. The portal will have information about
the decisions taken by the administrative wing on major schemes. This will
enable tracking of methodology and analysis of the report and further help in
the comparison of old and new data. Key Points:
a) In the
‘CM Dashboard’ portal, departments will link their day-to-day activities for
effective monitoring.
b) Through
the ‘CM Dashboard’ portal timelines and deadlines of a particular task being
met can be known.
c) The
portal will also provide information about which department had set what target
for a particular task, whether that was achieved or if anyone defaulted, and
for what reason.
d) The ‘CM
Dashboard’ portal will be beneficial in taking the state government’s ambition
of good governance ahead.
e) CM
Manohar Lal Khattar launched a dedicated e-Upphar portal to auction gifts
received by him. The bade bid amount would be fixed and payment would be
directly transferred to the Chief Minister Relief fund.
3.
Uttarakhand Chief Minister launches Lakhpati Didi Yojana: Uttrakhand Chief
Minister Pushkar Singh Dhami inaugurated the ‘Lakhpati Didi’ fair at the survey
of India Maidan, Hathbarkala in Dehradun. The fair is part of an initiative
undertaken by the BJP government to empower women in the state. The Rural
Development department of the Uttrakhand government has made preparations to
make 1.25 lakh women from self-help groups ‘Lakhpati’ by 2025. Key Points:
a) In the year
2025, the state will complete 25 years of the formation, and coincidentally the
project will be also completed by 2025.
b) 1.25
lakh of the 3.67 lakh women belonging to self-help groups will become
‘Lakhpati’ under the targeted livelihood initiative.
c) Under
the ‘Lakhpati Didi’ scheme women belonging to self-help groups (SHGs) will be
encouraged to take up micro-enterprises with skill development.
d) The
government will tie up e-commerce platforms like Amazon, Flipkart, and
Government e-Marketplace so that the SHG products get national and
international markets.
4.
Subhrakant Panda named as President of FICCI: The Federation of Indian Chambers
of Commerce and Industry (FICCI) has announced Mr Subhrakant Panda as its
President-Elect. Mr Panda is currently the Senior Vice President of FICCI. He
shall succeed Mr Sanjiv Mehta as President of the apex chamber at the
conclusion of the 95th Annual General Meeting to be held on December 16th-17th,
2022.
Mr
Panda is Managing Director of Indian Metals & Ferro Alloys Ltd (IMFA) which
is the country’s leading, fully integrated producer of ferroalloys with captive
mining and power generation employing 6500 people. He has handled various
responsibilities in IMFA, and implemented expansion plans after he was
appointed Managing Director which led to significant growth in revenue &
profitability.
Note:
FICCI Founded: 1927; FICCI Headquarters: New Delhi.
INTERNATIONAL UPDATES:
1.
Switzerland created record for operating the longest passenger train: Switzerland
is now home to the world’s longest passenger train. The train has 100 coaches,
measures 1910 metres and consists of 4,550 seats. The train was seen passing
through the mountainous landscape in the Swiss Alps. Celebrating the 175th
anniversary of Switzerland’s first railway, the country’s railway operators
came together to create the new Guinness World Record-holding train which tows
100 carriages, weighs 2,990 tons, and measures 1.91 km (1.19 miles) long.
The
train carried 150 passengers on its journey. It wound through dazzling sunshine
reflecting off its shiny-silver roof. The train also comes with a digital
destination sign on the front that reads “Alpine Cruise” It took the
spectacular Albula-Bernina route, listed as a UNESCO World Heritage site. The
route covered nearly 25 kilometres from Preda to Alvaneu in less than 45
minutes. It passed through 22 helical tunnels and crossed 48 bridges on its
way.
Note:
Switzerland Currency: Swiss franc; Switzerland Capital: Bern.
2.
India Tops List of Countries with Cheapest Manufacturing Costs: India has been
ranked as the nation with the cheapest manufacturing cost ahead of China and
Vietnam, according to a report. According to the US News and World Report, out
of 85 nations, India has bagged the 31st position in the overall Best Countries
ranking.
About
The Report: The report evaluates 85 countries across
73 attributes. Attributes are grouped into 10 sub-categories, including
adventure, agility, entrepreneurship, open for business, social purpose and
quality of life.
Under
the open for business sub-category, India has scored 100 per cent when it comes
to cheap manufacturing costs. India featured at the 37th spot in the ‘Open for
Business’ category. But in ‘favourable tax environment’, it has scored 16.2 out
of 100; 18.1 in the ‘not corrupt’ category and 3.5 in ‘transparent government
policies’.
Similarly,
under the ‘quality of life’ segment, India has scored 1.9 in ‘income equality’;
4.3 in ‘safe’; 2.3 in ‘well-developed public health system’; and 9.9 in
‘economically stable’ sub-parameter.
Other
Cheap Manufacturers: The list of top 10 countries
with the cheapest manufacturing costs, which is headed by India, also includes
Thailand (fourth), Philippines (fifth), Bangladesh (sixth), Indonesia
(seventh), Cambodia (eighth), Malaysia (ninth) and Sri Lanka (tenth).
The
World Scenario: China, which is India’s prime
economic competitor in the South Asia region, has an overall ‘Open for
Business’ score of 17, the report said. However, it ranks at the second spot,
behind India, when it comes to cheap manufacturing costs. Vietnam, which has
attracted a slew of apparel and footwear manufacturers over the past few years,
has been placed at the third spot in the category of countries with the
cheapest manufacturing costs. It is ranked 47th in the overall ‘Open for
Business’ category.
In the
overall Best Countries ranking, Switzerland has topped the chart, followed by
Germany, Canada, US and Sweden.
3.
Infant Protection Day: 7th November: Every year, November 7 is celebrated as
Infant Protection Day. This day is celebrated with the sole purpose of raising
awareness about the safety of newborn lives and giving them proper care. The
day has been set to discuss how to best safeguard and nurture young children at
one of their most important and vulnerable developmental stages.
The
main reason behind the commemoration of Infant’s Protection Day is to take
steps to protect the lives of infants. On this day, the government hopes to
raise awareness about the protection and nurturing that infants require. This day
also seeks to provide every child with the strong health and immunity they
deserve.
4.
World Radiography Day: 8th November: Every year on November 8, World
Radiography Day is observed to honour the discovery of X-radiation, also known
as X-rays. This day in 1895 saw the completion of German scientist Wilhelm
Conrad Rontgen’s discovery of X-radiation, or X-rays. For this accomplishment,
he was awarded the first Nobel Prize in Physics in 1901. The theme of
International Day of Radiology 2022 is “Radiographers at the Forefront of
Patient Safety.” This theme aims to encourage all radiologists, radiographers,
radiological technologists, and professionals to recognize and promote the
essential role of radiology in the treatment of a patient.
World
Radiography Day History: According to many
sources, the first World Radiography Day was observed in 2007 by the
International Society of Radiographers and Radiological Technologists on
November 8. however, the first major celebration of the day was organized in
2012 when the European Society of Radiology (ESR), Radiological Society of
North America (RSNA), and American College of Radiology (ACR) came together for
the initiative. This year will celebrate the 11th anniversary of International
Day of Radiology.
OTHER UPDATES:
SPORTS
1.
Dharmendra Pradhan Inaugurated ‘Baji Rout National Football Tournament’: Union
Minister Dharmendra Pradhan inaugurated the ‘Baji Rout National Football
Tournament’ in Dhenkanal in Odisha. The government under the leadership of
Prime Minister Narendra Modi has been promoting sports and games in the country
through initiatives like khelo India and Fit India. Key Points:
a) The
government aims to attract the younger generation that is stuck on the internet
and TV to the playing field.
b) The
government of India in association with the FIFA and All India Football
Federation has started the ‘Football for School’ initiative.
c) The
Union Minister Dharmendra Pradhan revealed that the program has been targeted
to rope in about two crore fifty lakh school students towards football.
d) Ten
lakh footballs will be distributed among the government and private schools in
all the districts of the country through the Jawahar Navodaya Vidyalaya.
BANKING AND FINANCE
1.
Chqbook and NSDL Payments Bank collaborate for digital current accounts: The
neobank for small business owners Chqbook has introduced the first digital
current account of its sort in collaboration with NSDL. Small business owners,
including kiranas and pharmacists, can easily open a current account on the
Chqbook App from their smartphone in a language of their choice. The current
account is more easily accessible and understandable because it is provided in
eight different languages. Key Points:
a) For
more than 63 million small companies in India, the brand-new digital and immediate
current account feature is a welcome innovation.
b) By
enabling small company owners to use the Chqbook App to access financial
services like current accounts, loans, and insurance on their smartphones
without having to fill out any paperwork, it advances Chqbook’s mission of
financial inclusion.
c) Most
small business owners conduct their transactions through savings accounts,
which can freeze owing to multiple credits, or current accounts at cooperative
banks, which provide them with no digital interface at all.
d) A
conventional banking transaction entails a trip to a branch, which is tiresome,
time-consuming, and includes paperwork. Apart from that, opening a current
account at a bank branch takes between 7 and 20 days.
e) Any
business owner needs a current account as a fundamental tool to keep track of
spending, manage cash flow, and facilitate accurate tax liability calculations.
As a result, a corporate current account supports UPI transactions as well as
deposits and withdrawals.
f)
With the recently introduced current
account, long wait times are no longer an issue, and small business owners may
open a current account in only a few minutes.
BUSINESS AND ECONOMY
1.
India’s Foreign Exchange Reserves Finally Jump by $6.56 billion, Largest Weakly
Gain in Over A Year: India’s foreign exchange reserves logged their biggest
weekly jump since September 2021 and also rose for the first time in three
weeks for the week ended October 28, helped by gains in both foreign currency
assets and gold reserves. The foreign exchange reserves of Asia’s third largest
economy rose by $6.56 billion to $531.08 billion for the week ending Oct 28,
according to data released by the Reserve Bank of India.
Foreign
Currency Assets: The foreign currency assets
(FCA), a major component of the overall reserves, rose by $5.77 billion to
$470.84 billion in the reporting week. Even gold reserves increased by $556
million to $37.76 billion. Experts said the surge in the reserves during the
reporting week was on account of valuation gains arising out of depreciation of
the US dollar against major currencies.
Tesla’s
Former India Policy Chief to Join e-Scooter Startup Ather Energy: Tesla Inc.’s
former India policy chief is joining homegrown electric scooter startup Ather
Energy Pvt, one of the best-funded fledgling firms in a sector attracting
record investment. Manuj Khurana who quit his post as Tesla’s local head of
policy and business development in June, will start next week at the firm based
in the southern technology hub of Bangalore. Khurana will join as a vice
president, though his specific role there is unclear.
Hyderabad’s
Megha Ltd to Build Mongolia’s First Greenfield Oil Refinery: Hyderabad-based
Megha Engineering and Infrastructure Limited (MEIL) has taken up a project to
build Mongolia’s first Greenfield oil refinery on the outskirts of the capital
city, Ulaanbaatar. The project is aimed at reducing the East Asian country’s
dependency on Russian oil imports. The company would provide EPC (Engineering,
procurement, and construction) services and EPC-3 (captive power plants) for
$790 million using advanced technology. Key Points:
a) The
project is a part of the development partnership administration initiative of
India’s Ministry of External Affairs.
b) The
refinery would be built using a line of credit from the central government.
c) Engineers
India Limited is the project management consultant for this G2G partnership
project.
d) The
refinery will open up a number of employment opportunities, supporting the
growth of nearly small industries.
e) This
downstream project is of enormous importance and marks a critical turning point
in the relationship between India and Mongolia. The project will bring economic
prosperity and energy independence to Mongolia.
Awards
1. Amit
Dasgupta honoured with a member of the Order of Australia Award: Amit Dasgupta
was appointed as an Honorary Member in the General Division of the Order of
Australia (AM) for his service to the Australia-India bilateral relationship.
Dasgupta is a tireless promoter of Australia-India relations, challenging the
nations’ governments and people to realise the underlying potential of a
stronger bilateral relationship. Tenure of Das Gupta in Australia:
a) As
Consul-General of India to Australia from 2009 to 2012, Dasgupta was a staunch
advocate for the principles of multiculturalism, which underpins contemporary
Australia.
b) During
this period, attacks against Indian students threatened Australia’s
international reputation. Dasgupta’s personal efforts assisted in diffusing
tensions and reassuring the Indian diaspora.
c) Dasgupta
was instrumental in establishing the Australia-India Youth Dialogue. Now in its
second decade, the Dialogue is a permanent fixture of the bilateral
relationship and fosters connections between Australian and Indian young
people.
d) Dasgupta
continues to advance relations between the two countries as a Distinguished
Fellow of the Australia India Institute, a Senior Fellow at the Society for
Policy Studies, and the Inaugural Country Director of the University of New
South Wales since 2016.
Note:
Australia Capital: Canberra; Australia Currency: Australian dollar; Australia
Prime minister: Anthony Albanese.
2. M T
Vasudevan Nair awarded with Kerala Jyothi award: M T Vasudevan Nair, a renowned
Malayalam author and Jnanpith laureate, has been chosen to receive the
inaugural Kerala Jyothi award, which was established by the state government in
the spirit of the Padma awards to recognise people who have made priceless
contributions to society.
Key Points:
a) Delhi-based
Malayalam megastar Mammootty Omcheri N. N. Pillai, a playwright in Malayalam,
and T. Madhava Menon, a former civil servant and social worker, has been chosen
to receive the first “Kerala Prabha” awards, announced by the government.
b) The first
“Kerry Sree” awards have been given to amphibian biologist Sathyabhama Das Biju
(Dr S D Biju), magician Gopinath Muthukad, sculptor Kanayi Kunhiraman,
businessman Kochouseph Chittilappilly, scientist M P Parameswaran, and singer
Vijayalakshmi, according to a statement released on the eve of Kerala Piravi.
Awards established by Kerala Government: The Kerala administration made the decision to establish the highest state-level honours, modelled after the Padma awards, last year. The three categories of “Kerala Jyothi,” “Kerala Prabha,” and “Kerala Sree” awards were settled upon. The government has made the decision to present the prizes during Kerala Piravi.