NATIONAL UPDATES:
1. New Telangana
Secretariat complex to be named after B.R. Ambedkar: Chief Minister K
Chandrashekhar Rao decided to name Telangana’s new secretariat after Dr Bhimrao
Ramji Ambedkar. The move came after the Telangana legislative assembly
unanimously passed a resolution urging the central government to name the new
Parliament building in New Delhi after the chief architect of the Constitution.
The seven-story
Secretariat building with a built-up area of seven lakh square feet is being
built at a cost of Rs 650 crore. The goals set by Dr Ambedkar for the uplift of
the downtrodden in social, political, financial and cultural spheres were
followed by the State government in its self-governance model. The State
government is implementing Ambedkar’s Constitutional spirit by providing humane
governance to SC, ST, BC, minorities, women and also the poor in “forward
castes,”.
Note: Telangana
Capital: Hyderabad; Telangana Chief Minister: K. Chandrashekar Rao; Telangana
Governor: Tamilisai Soundararajan.
2. Dharmendra Pradhan
launched Ramakrishna Mission’s Awakening programme: Union Minister for
Education and Skill Development & Entrepreneurial Shri Dharmendra Pradhan
launched the Ramkrishna Mission ‘Awakening’ Program for students of classes I
to V. During the occasion, Secretary of the Ramkrishna Mission Swami
Shantatmanada, Chairperson CBSE, Smt Nidhi Chibber, and other officials of KVS,
NVS, and the Ministry were present. Key Points:
a)
Shri Dharmendra Pradhan said that NEP
2020 is inspired by the philosophy of Swami Vivekananda. Social transformation
is one of the key goals of education, and values and wisdom are more important
than material wealth.
b)
Ramkrishna Mission has a legacy of
imparting applied education.
c)
NEP 2020 emphasizes on creating
value-based educational programs for 9th and 12th in addition to creating
programs for classes I to VIII.
d)
This initiative will ensure holistic
personality development of a child aligned with the philosophy of NEP 2020.
e)
CBSE will be an advisory framework for
encouraging value-based education in schools from Balvatika to Class XII.
3. Union Minister Dr
Jitendra Singh presents INSPIRE awards to 60 startups: Union Minister Dr
Jitendra Singh has presented INSPIRE Awards to 60 startups along with financial
support to 53,021 students. The award is instituted by the Department of
Science & Technology (DST), Government of India.
The annual INSPIRE
Awards MANAK (Million Minds Augmenting National Aspiration and Knowledge)
competition attracted an unprecedented 6.53 lakh ideas and innovations from all
states and UTs of the country in 2020-21. The scheme achieved an unprecedented
level of inclusivity by representing ideas and innovations of 702 districts
(96%), including 123 out of 124 aspirational districts, 51% representation from
girls, 84% participation from schools located in rural areas of the country,
and 71% of schools run by State/UT Governments.
Key Points:
a)
Out of 6.53 lakh, a total of 53,021
students were identified for financial support of Rs 10,000 each so that they
could develop prototypes of the ideas that they submitted for the scheme.
b)
A total of 556 students advanced to the
9th National Level Exhibition and Project Competition (NLEPC).
c)
The scheme aims to help build a
critical human resource pool for strengthening, expanding, and increasing the
science and technology R&D base.
4. Andaman and
Nicobar Islands become India’s first Swachh Sujal Pradesh: Union Jal Shakti
Minister, Gajendra Singh Shekhawat declared Andaman and Nicobar Islands as
India’s first Swachh Sujal Pradesh. With this accomplishment, all villages on
the Andaman and Nicobar Islands have received the Har Ghar Jal certification
and have been verified as ODF plus open defecation free. Key Points:
a)
On A&N Island, there are 62,000
rural households spread across 266 villages in 9 blocks across three districts.
The UT has given piped water supply to all 368 schools, 558 Anganwadi centres,
and 292 public institution centres.
b)
On World Water Day, 22 March 2021,
Andaman and Nicobar Islands were declared to have achieved 100% coverage of
rural households with tap water connection. It became the third State/UT in the
country to achieve 100% coverage of rural households with tap water supply
after Goa and Telangana.
Note: Andaman and
Nicobar Island (UT) Lieutenant Governor: Admiral D K Joshi.
5. A book titled
“Ambedkar and Modi” released by former President Ram Nath Kovind: Former
President Ram Nath Kovind has launched a book titled ‘Ambedkar and Modi:
Reformer’s Ideas Performer’s Implementation’. The book, compiled by Bluekraft
Digital Foundation, explores the life and works of Dr BR Ambedkar while drawing
a parallel with the initiatives and reforms taken by Prime Minister Narendra
Modi to implement the ideals of the social reformer.
The essence of the
book: The book is a prism that reflects upon the multitude of contributions
of Dr Babasaheb Ambedkar in the nation-building process. Many of his ideas and
interventions continue to define our governance paradigm, especially with PM
Narendra Modi at the helm ensuring that his legacy is revived. The book studies
the points of intersection of India’s development story under Prime Minister
Narendra Modi and the ideals of Babasaheb. It also highlights the striking
parallels between the two towering personalities that succeeded against all
odds and worked to dismantle stifling social structures that they themselves
experienced from close quarters.
INTERNATIONAL UPDATES:
1. India
takes over SCO rotating presidency and to host SCO summit 2023: The rotational presidency of the Shanghai Cooperation Organization has
been handed over to India in Samarkand, Uzbekistan. Delhi will hold the
presidency of the grouping for a year until September 2023. And next year,
India will host the SCO summit.
The leaders of
the Shanghai Cooperation Organization (SCO) Member States signed the Samarkand
Declaration in the meeting of the Council of Heads of State in the city of
Samarkand, Uzbekistan. During the SCO Summit, the Member States noted the
various global challenges and threats including the technological and digital
divide, continued turbulence in global financial markets, instability in supply
chains, increased protectionist measures and uncertainty in the global economy.
Shanghai
Cooperation Organization (SCO): Launched in
Shanghai in June 2001, the SCO has eight full members, including its six
founding members, China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan and
Uzbekistan. India and Pakistan joined as full members in 2017. Iran has been
admitted as a permanent member of the SCO at the Samarkand summit.
2. World
Rhino Day: 22nd September: World Rhino Day is observed
on 22nd September to spread awareness about the different Rhinoceros species
and the dangers they face. This day also celebrates all five rhino species
namely the Sumatran, Black, Greater One-horned, Javan, and White rhino species.
This day aims to spread the importance of protecting these animals, as
Rhinoceros have become critically endangered in the wild due to ongoing
poaching and habitat loss over many years. This year’s World Rhino Day will be
observed under the theme “Five Rhino Species Forever”.
World
Rhino Day History: The day’s announcement was done in 2010 by
WWF-South Africa. When Lisa Jane Campbell, the founder of Annamitici and owner
of the Chishakwe Ranch in Zimbabwe, teamed up with Rhishja Cota, the event’s
creative director in 2011 to raise awareness about the need to preserve or
protect all five species of rhinos from extinction. The annual celebration
gained recognition on a global scale. World Rhino Day was first observed in
2011, and every year since then, it has been observed worldwide.
3. World Rose Day (Welfare
of Cancer Patients): 22nd September: World Rose Day for the welfare of cancer
patients worldwide is celebrated annually on the 22nd of September. This day
aims to encourage and support those people who are fighting their battle
against cancer. The day aims to bring happiness and hope into the lives of such
patients and reminds them that they can emerge victorious in their battle
against cancer through determination and positivity.
World Rose Day
History: World Rose Day was first observed in honour of
12-year-old cancer patient Melinda Rose from Canada, who died in 1996.
According to reports, Rose was diagnosed with Askin’s Tumour in 1994, which is
a rare form of blood cancer. While doctors had said that she would only live
for a few weeks, Melinda Rose went on to for over three years.
OTHER UPDATES:
SPORTS
1. Sunil Chhetri-led
Bengaluru FC win maiden Durand Cup title: Sunil Chhetri-led Bengaluru FC beat
Mumbai City FC 2-1 in the final of the 131st edition of Durand Cup at the
Vivekananda Yuba Bharati Krirangan in Kolkata. Goals from Siva Sakthi in the
10th minute and Alan Costa’s 61st-minute strike were enough to help Bengaluru
lift the crown. Apuia got the lone goal for the Mumbai side in an entertaining
match.
Durand Cup History: The former Foreign
Secretary of British India, Mortimer Durand founded the Durand Cup in 1888. The
Durand Cup was initially played only by the Armed services but in later years,
the game was officially made open for the Professional Football Clubs. The
Durand Cup is annually organized by the Durand Cup Football Tournament in
association with the All India Football Federation (AIFF). The winner of the
tournament is facilitated with three trophies, the Durand Cup, the President’s
Cup, and the Shimla Trophy.
BANKING AND FINANCE
1. Singapore Central
Bank, India’s IFSCA to Pursue Fintech Innovations: The Monetary Authority of
Singapore (MAS) and the International Financial Services Centres Authority
(IFSCA) signed a FinTech Co-operation Agreement to facilitate regulatory collaboration
and partnership in FinTech technology. The agreement is expected to leverage
existing regulatory sandboxes in their respective jurisdictions to support
experimentation of technology innovations.
It will include
referral of companies to each other’s regulatory sandboxes and enable
innovative cross-border experiments in both jurisdictions. The agreement will
also allow both the organisations to evaluate the suitability of use cases
which could benefit from collaboration across multiple jurisdictions, and
invite relevant jurisdictions to participate in a Global Regulatory
Sandbox. Sharing of information will be
a key aspect of the agreement. The two will share non-supervisory related
information and developments on innovation in financial products and services,
facilitate discussions on emerging FinTech issues and participate in joint
innovation projects.
2. Reserve Bank of
India named Pralay Mondal as CEO of CSB Bank: The Reserve Bank of India has
approved the appointment of Pralay Mondal as the Managing Director and Chief
Executive Officer of CSB Bank for three years. He was the Deputy Managing
Director of the bank since February 17, 2022 and was subsequently appointed as
interim MD & CEO with effect from April 1, 2022. Prior to joining CSB Bank,
Mondal was Executive Director and Head, of Retail Banking at Axis Bank.
Note: CSB Bank
Founded: 26 November 1920; CSB Bank Headquarters: Thrissur, Kerala.
BUSINESS AND ECONOMY
1. India’s CAD Likely
to Remain Within 3% of GDP: A weak rupee and elevated fuel prices will keep
India’s current account deficit (CAD) under pressure with analysts seeing it at
about 3% of GDP in FY23 compared to 1.2% in FY22 even as these will exert
pressure on government finances. Subsidy expenditure is seen to rise to levels
significantly higher than projected. Higher oil import bill on account of weak
rupee will straddle several sectors, including fertilisers and metals, and also
result in lower dividend receipts from state-run fuel retailers whose margins
will be hit. Rupee hit a record low of 80 against US dollar for the first time
in intra-day trade, before closing at
79.95.
2. Figma design
platform acquired by Adobe for $20 billion: Adobe announced that it would
acquire design software company Figma for roughly $20 billion in cash and
equity. Adobe’s stock fell 17%, marking the worst decline since 2010. Dylan
Field, co-founder and CEO of Figma, will remain in that position after the deal
is completed. David Wadhwani, president of Adobe‘s digital media division, will
be his immediate supervisor.
Adobe is paying close
to 50 times revenue at a time when cloud software sales multiples are sharply
declining from their record highs established last year. Adobe’s fiscal third
quarter reports were also released. Adjusted earnings per share were $3.40,
exceeding the $3.33 per share forecast from Refinitiv. It reported revenue of
$4.43 billion, which was in line with analyst estimates.
About Figma: Figma was
established in 2012 and makes cloud-based design software that enables
real-time collaborative collaboration. It squares off against Adobe’s XD
software. The company’s previous investment round in 2021 valued it at $10
billion.
3. Vinod Aggarwal
elected as new President of SIAM: Auto industry body, Society of Indian
Automobile Manufacturers (SIAM) has elected Vinod Aggarwal as its new president
for 2022-23. Aggarwal, the MD and CEO of Volvo Eicher Commercial Vehicles,
succeeds Kenichi Ayukawa, the executive vice-chairman of Maruti Suzuki India.
The SIAM also elected Tata Motors Passenger Vehicles managing director Shailesh
Chandra as the vice-president, Satyakam Arya; and CEO & MD of Daimler India
Commercial Vehicles was elected as the treasurer. About the Society of
Indian Automobile Manufacturers (SIAM):
a)
The Society of Indian Automobile
Manufacturers (SIAM) is a not-for-profit apex national body representing all
major vehicle and vehicular engine manufacturers in India.
b)
SIAM works toward supporting
sustainable development of the Indian Automobile Industry with the vision that
India emerges as the destination of choice in the world for the design and
manufacture of automobiles.
c)
It works towards facilitating the
enhancement of the competitiveness of the Indian Automobile Industry, reducing
the cost of vehicles, increasing productivity and achieving global standards of
quality.
DEFENCE
1. BSF’s first female
camel riding squad to be deployed along the India-Pak border: Border Security
Force (BSF) first female camel riding squad will be deployed along the
India-Pakistan border in Rajasthan & Gujarat. The squad will participate
for the first time in the BSF Raising Day Parade on 1st December. This Squad
will be the first of its kind in the world. Giving this information, DIG BSF
Bikaner, Pushpendra Singh Rathore said that Intensive training was given to
this squad at the Bikaner Regional Headquarters of BSF under the supervision of
skilled trainers.
The BSF is the only
force in the country to have the Camel Contingents and the Camel Mounted Band.
BSF, traditionally known as the ‘first line of defence, the Camel Contingents
are used to keep a vigil in the vast expanse of the Thar Desert.
Note: Border Security
Force Director General: Pankaj Kumar Singh; Border Security Force Founded: 1
December 1965; Border Security Force Headquarters: New Delhi, India.
2. IAF’s Project
Cheetah: Indian defence companies to equip Israeli Heron drones: The Israeli
Heron drones would be equipped with strike capabilities as part of the Indian
Air Force’s Project Cheetah under the Make in India programme. The Project
Cheetah aims to improve the Indian Air Force’s fleet of Israeli-made Heron
unmanned aerial vehicles with stronger communication capabilities and
long-range missiles that can hit enemy sites. Key Points:
a)
The project was supposed to be finished
with Israeli armament makers, as planned.
b)
The Israeli Air Force (IAF) is the key
driving force behind the project that will also see the Israeli Navy and Army’s
drones upgraded with strike capabilities and enhanced surveillance and
reconnaissance pods.
c)
The three services have relied for
years on Searcher II and Heron UAVs from the Israeli Air Force for surveillance
and reconnaissance.
IAF’s Project Cheetah:
Benefits of the Project
a)
The forces on the ground would be able
to gather precise intelligence regarding hiding places in regions where men
must participate in operations with the improvement in surveillance
capabilities.
b)
The modifications would also make it
possible for the ground stations to fly these planes from afar and control them
via a satellite communication network.
c)
The surveillance capabilities of the
UAVs that are expected to be enhanced would be comparable to those that the
Indian Army and IAF have already acquired.
d) As a result, the emergency acquisition powers that the government provided to the forces in response to the continuing military standoff.
