Daily GK Update- 20th Nov, 2022

NATIONAL UPDATES:

 

1. India Becomes the World’s Second Largest Producer of Steel: India has emerged as the second-largest producer of crude steel by replacing Japan. The biggest steel producing country is currently China, which accounted for 57% of world steel production. Govt Efforts:

a)      In order to support the domestic steel industry, the Government of India has notified the National Steel Policy, 2017, and the Policy for Providing Preference to Domestically Manufactured Iron and Steel (DMI & SP) in the case of state procurement. These policies have helped create a favorable environment to improve domestic production and consumption of steel.

b)      The Government has also issued quality control orders, prohibiting the manufacturing and import of cheap and substandard quality of steel. In addition, India has liberalised the coal mining sector which stands to greatly benefit the steel industry.

c)       India has also been inviting foreign entities to invest in the steel sector as India’s steel demand is expected to rise by 7.2 per cent in 2019-20. Going ahead, the demand growth for steel is expected to remain unchanged at 5.2 per cent in 2022-23.

d)      the Government of India has launched the Purvodaya programme which aims accelerated the development of eastern India through the establishment of an integrated steel hub.

e)      The eastern states of India – Odisha, Jharkhand, Chhattisgarh, West Bengal – and the northern part of Andhra Pradesh hold about 80 per cent of the national iron ore reserves and nearly 100 per cent of coking coal as well as vast reserves of chromite, bauxite, and dolomite.

Rank-Wise List:

 

Rank 2018	Country	Qty (mt)		Rank 2019	Country	Qty (mt)
1	China	920		1	China	996.3
2	India	109.3		2	India	111.2
3	Japan	104.3		3	Japan	99.3
4	USA	86.6		4	USA	87.9
5	South Korea	72.5		5	Russia	71.6

 

2. Uttar Pradesh To Register Maximum Number of New Companies After Maharashtra Post Covid: UP has added the most number of new companies after Maharashtra since the outbreak of Covid-19, beating industrial hubs such as Delhi, Karnataka and Tamil Nadu, data combined by the corporate affairs ministry (MCA) show. Key Points:

a)      Uttar Pradesh is the third ranked state in terms of number of active companies behind Maharashtra and Delhi.

b)      Uttar Pradesh is home to 1.08 lakh active companies as of September end while Maharashtra and Delhi have 3 lakh and 2.2 lakh active companies respectively.

c)       Karnataka and Tamil Nadu are at fourth and fifth with 1.04 lakh and 99,038 active companies respectively.

d)      Uttar Pradesh added 30,000 companies in the past three years, which helped it emerge the third state in terms of number of active companies.

e)      Maharashtra on the other hand added 60,000 new companies in the past three years and continues to be on the top.

 

3. President Sh. Murmu appoints Dr CV Ananda Bose as Governor of West Bengal: President Droupadi Murmu has appointed Dr CV Ananda Bose as the Governor of West Bengal. Bose (71) is a 1977 batch (retired) Indian Administrative Service (IAS) officer of Kerala cadre. He last served as an administrator in the National Museum here before superannuating in 2011.

Notably: Manipur Governor La Ganesan had been holding the additional charge of West Bengal since July this year after incumbent Jagdeep Dhankhar was nominated as the vice president candidate by the National Democratic Alliance (NDA). Prior to his election as the vice president of India, Dhankhar was the governor of West Bengal for nearly three years.

 

4. International Gita Mahotsav organized at Haryana: International Gita Mahotsav is being organized in Haryana from November 19 to December 6 at Kurukshetra. President Draupadi Murmu attended this grand festival of Holy Gita in the Gita Yagya at Brahma Sarovar. Renowned International and National scholars of Shrimad Bhagavad Gita and researchers from across the country and abroad will present their research papers on ‘world peace and harmony with the inspiration of Shrimad Bhagavad Gita’. About International Gita Mahotsav

a)      Gita Mahotsav is an event centered around the Bhagavad Gita, celebrated on the Shukla Ekadashi, the 11th day of the waxing moon of the Margashirsha (Agrahayan) month of the Hindu calendar.

b)      It is believed the Bhagavad Gita was revealed to Arjuna by Krishna on the battlefield of Kurukshetra Narrated by Sanjaya to King Dhritarashtra as it transpired between Krishna and Arjuna.

c)       Sanjaya, the scribe of the blind King Dhritarashtra, was blessed by his guru, Ved Vyasa, with the power to remotely view the events taking place on the battlefield as they transpired.

 

5. Ex-Chief Economic Advisor Arvind Virmani named as full-time member of NITI Aayog: Former Chief Economic Advisor, Arvind Virmani has been appointed as a full time member of NITI Aayog. The other existing Members of NITI Aayog are VK Saraswat, Ramesh Chand and VK Paul. While Suman Bery is the Vice Chairman of NITI Aayog, Parameswaran is the incumbent CEO of the think tank.

Arvind Virmani: Virmani was Chief Economic Advisor in the Finance Ministry from 2007-09. He was Executive Director at the International Monetary Fund (IMF) till end 2012. He served as a member of the Technical Advisory Committee of the Reserve Bank of India (RBI) on monetary policy from February 2013 to August 2016.

Note: NITI Aayog Vice Chairman: Suman Bery; NITI Aayog CEO: Parameswaran Iyer.

 

INTERNATIONAL UPDATES:

 

1. India-Russia-Iran Holds Trilateral Meet on Afghanistan on Sidelines of Moscow Format: India participated in the fourth Meeting of the Moscow Format Consultations on Afghanistan, which was held in Moscow on November 16. Special envoys and senior officials from Russia, China, Pakistan, Iran, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan also participated in the meeting.

“During the meeting, the participants discussed issues related to Afghanistan, including the current humanitarian situation and the ongoing efforts of various stakeholders to provide assistance, intra-Afghan talks, formation of an inclusive and representative government, efforts to counter threats of terrorism and ensuring regional security,” Ministry of External Affairs said.

About Moscow Format: It was introduced in 2017 on the basis of the six-party mechanism for consultations among special representatives from Russia, Afghanistan, China, Pakistan, Iran and India. The Moscow format meeting’s main objective is to facilitate the national reconciliation process in Afghanistan and secure peace in that country as soon as possible.

 

2. US space agency NASA launches Artemis-1 rocket on a mission to the moon: The United States space agency NASA has launched its Artemis-1 mission from Kennedy Space Centre, Florida. About eight minutes after launch, the core stage’s engines cut off and the core stage separated from the rest of the rocket. After this, the Orion spacecraft was propelled by the Interim Cryogenic Propulsion Stage (ICPS). NASA also deployed the four solar arrays of the Orion spacecraft. After completing “translunar injection”, Orion separated itself from the ICPS and is now on its way to lunar orbit. About Artemis-1 mission:

a)      For the first time in 50 years since the end of the Apollo program, the launch of Artemis 1 is an ambitious US mission to return astronauts to the surface of the Moon.

b)      The Artemis 1 launch will also be the first flight of NASA’s 21st century moon-exploration program.

c)       With Artemis 1 on the surface of the Moon, NASA aims to demonstrate new technologies, business approaches and capabilities that are essential for future explorations, including Mars. The launch aims to further aid in the study of the Moon, its origin and history.

Note: NASA administrator: Bill Nelson; Headquarters of NASA: Washington D.C., United States; NASA Founded: 1 October 1958.

 

3. World Children’s Day: 20th November: World Children’s Day is celebrated on November 20 annually. The day aims to promote international togetherness and awareness among children as well as to improve their welfare. November 20 marks the anniversary of the UN General Assembly adopted a Declaration and Convention on children’s rights. This year, the United Nations Children’s Fund (UNICEF) wants to remind world leaders to “fulfil the promise of the UN Convention on the Rights of the Child”. The theme for International children’s day is, “Inclusion, for every child”. This theme means that every child belonging to any society, community or nationality is entitled to equal rights.

World Children’s Day History: The date 20 November marks the day on which the Assembly adopted the Declaration of the Rights of the Child, in 1959, and the Convention on the Rights of the Child, in 1989. Universal Children’s Day was established by the United Nations in 1954, it wasn’t until November 20, 1959 that the UN General Assembly adopted an extended form of the Declaration of the Rights of the Child. Originally acquired in 1924 by the League of Nations, the UN adopted this document as its own statement of children’s rights.

Note: UNICEF Headquarters: New York, New York, United States; UNICEF Founded: 11 December 1946; UNICEF Head: Catherine M. Russell.

 

OTHER UPDATES:

 

SPORTS

 

1. Paris Olympics 2024: Phrygian cap chosen as Paris 2024 mascot: The Phrygian cap, the symbol of the French republic but wearing sneakers as a nod to the present, was unveiled as the mascot for the 2024 Paris Olympics. The Olympic Phryge (pronounced fri-jee-uhs) is a bit smaller, the Paralympic Phryge is a bit slimmer and has a blade on his right leg because it is a Phyrge with an impairment.

The Paralympic mascot is different in that one of the legs is a runner’s blade. The Paris Games organisers defended the fact that the toy replicas of the mascot are almost all made in China. One of the mascot’s eyes is blue and one of the two is draped in two ribbons in the colours of the French flag, in the style of a cockade, or knot of ribbons, which was another symbol of republicanism during the Revolution.

The mascots were unveiled in a press conference in Paris-by-Paris 2024 president Tony Estanguet, Beijing 2008 wheelchair tennis men’s doubles champion Michael Jeremiasz and Gwladys Epangue, a bronze medallist in taekwondo from Beijing 2008.

 

2. Formula-1 Racing: Mercedes’ George Russell won Brazilian F1 GP 2022: Mercedes’ George Russell has won his maiden F1 race in Brazilian Grand Prix in Sao Paulo. Mercedes’ Lewis Hamilton & Ferrari’s Carlos Sainz came at the second and third positions respectively. With Red Bull’s Max Verstappen finishing fourth. It was also Mercedes’ maiden win in the F1 2022 season. The 2022 season’s final race will be held in Abu Dhabi from November 18 to 20 at Yas Marina Circuit.

 

BANKING AND FINANCE

 

1. RBI Chooses 5 Banks for Retail Digital Currency Pilot: State bank Of India (SBI), ICICI Bank, IDFC First Bank, HDFC Bank and Yes Bank are among a shortlist of at least five lenders that the Reserve Bank of India (RBI) has roped in to work on the retail pilot project of the central bank digital currency (CBDC).

The report said, citing people familiar with the matter, that the Reserve Bank of India could add more banks to run the pilot, which is expected to launch soon. “Five banks have been shortlisted to run the pilot along with the help of NPCI (National Payments Corporation of India) and RBI. Some customer and merchant accounts will be chosen to roll out the retail digital rupee pilot soon,”. RBI’s Strong Push:

a)      The RBI is working on two fronts to test the central bank digital currency (CBDC): one for the wholesale market, for which a pilot project is already underway, and the other for retail (CBDC-R).

b)      The central banker is also weighing whether to build a new framework for its digital currency or make retail CBDC interoperable with the current digital payments system.

 

BUSINESS AND ECONOMY

 

1. Jeff Bezos Amazon Company Becomes the First Company in History to Lose $1 trillion Market Cap: Amazon.com Inc. is the world’s first public company to lose a trillion dollars in market value as a combination of rising inflation, tightening monetary policies and disappointing earnings updates triggered a historic selloff in the stock this year.

Shares in the e-commerce and cloud company fell 4.3%, pushing its market value to about $879 billion from a record close at $1.88 trillion on July 2021. The stock has lost around 48% of its value this year alone, and is a far cry from July 2021 when the company’s market cap almost touched $1.9 trillion. Amazon’s market value fell below the $1 trillion mark on November 1, days after the company posted mixed third-quarter earnings and projected the company’s slowest fourth-quarter growth ever.

Across US Tech Firms: It’s not just Amazon that’s bleeding money, the top five US tech companies by revenue have already lost nearly $4 trillion in market value so far this year, thanks to rising inflation and macroeconomic headwinds. Amazon and Microsoft Corp. were neck-and-neck in the race to breach the unwelcome milestone, with the Windows software maker close behind after having lost $889 billion from a November 2021 peak.

 

2. WhatsApp India head Abhijit Bose step down: WhatsApp India head Abhijit Bose and Meta India’s director of public policy Rajiv Aggarwal have left the company, less than two weeks after the departure of Meta India’s country head Ajit Mohan. These developments come against the backdrop of Facebook’s parent company laying off 11,000 people worldwide on November 9. With over 400 million users, India is the largest market for the Meta-owned messaging app. November 1 that the app is on track to generate $1 billion in revenue in India by next year.

 

3. Navi Technologies named MS Dhoni as brand ambassador: Navi Technologies Ltd which sells financial products like personal loans, home loans, and general insurance etc., has appointed Mahendra Singh Dhoni as its brand ambassador. Dhoni will be the face of the company’s branding initiatives. The association with the former team India captain strengthens the brand’s trustworthiness as it works to fulfill customer goals by providing simple, affordable, and easily accessible financial services across India. Company Vision:

a)      The company has launched its first digital advertisement with the cricketer on Hotstar. The goal of this campaign is to promote its financial services by dismantling the old and conventional ways of this sector.

b)      The campaign will initially run-on social media platforms like Facebook, Instagram, and YouTube before moving on to print and out-of-home (OOH) advertising in the second phase.

c)       Dhoni said: “Today’s India is intelligent, aspirational, and always working toward its goal. It is crucial for billions of Indians to achieve and surpass their life goals, which is why we have teamed up to make this vision a reality. Its mission is to make financial services easily accessible whenever needed.

 

DEFENCE

 

1. ‘Yudh Abhyas’, India-US joint military exercise to start in Uttrakhand: The Yudh Abhyas is a 15-day-long exercise that will focus on high altitude and extremely cold climate warfare. Exercise Yudh Abhyas is conducted annually between India and US to exchange best practices, Tactics, Techniques, and Procedures between the two nations’ Armies.

Key Points:

a)      The previous edition of the exercise was conducted at Joint Base Elmendorf Richardson, Alaska (USA) in October 2021.

b)      US Army soldiers of the 2nd Brigade of the 11th Airborne Division and Indian Army soldiers from the Assam Regiment will be participating in the exercise.

c)       The schedule will include all operations related to peacekeeping and peace enforcement.

d)      The joint exercise will also focus on Humanitarian Assistance and Disaster Relief (HADR) operations.

e)      Auli is situated just 95 km from the LAC. The exercise, thus, indicates a joint endorsement against China’s aggression in Ladakh at the western sector of the LAC in the past two years.

f)        The vast extent of the exercises between the two armies will also include the formation of integrated battle groups, force multipliers, establishment and functioning of surveillance grids, validation of operational logistics, mountain warfare skills, casualty evacuation, and combat medical aid in adverse terrains and climates.

 

2. Indian Army celebrates 242nd Corps of Engineers Day on 18 November: Indian Army celebrates the 242nd Corps of Engineers Day on 18th November. Defence Minister Rajnath Singh, Chief of Defence Staff General Anil Chauhan and Chief of the Army Staff General Manoj Pande have conveyed their best wishes to all ranks of the Corps of Engineers on the occasion. On the occasion of Corps day, Engineer-in-Chief and Senior Colonel Commandant of the Corps of Engineers Lt Gen Harpal Singh has called upon the Corps to put in bigger efforts to be prepared for the future challenges and rededicate towards being a reliable, versatile and omnipresent arm of the Army.

Corps of Engineers in Indian Army:

a)      The Corps of Engineers provides combat engineering support, develops infrastructure for armed forces and other defence organisations and maintains connectivity along our vast borders besides providing succour to populace during natural disasters. These tasks are executed through four pillars of the Corps – Combat Engineers, Military Engineer Service, Border Road Organisation and Military Survey.

b)      The Corps of Engineers has three groups, i.e. Madras Sappers, Bengal Sappers and Bombay Sappers which were amalgamated into the Corps on 18 Nov 1932. Since its inception, history is replete with colossal exemplary contributions of the Corps of Engineers both in war and peace.

Note: Indian Army Corps of Engineers HQ: New Delhi, India; Indian Army Corps of Engineers Branch: Indian Army; Indian Army Corps of Engineers Colors: Maroon and blue; Indian Army Corps of Engineers Engineer-in-Chief: Lt Gen Harpal Singh; Indian Army Corps of Engineers Motto(s): Sarvatra (Ubique, Everywhere).

 

Daily GK Update- 19th Nov, 2022

NATIONAL UPDATES:

 

1. 3 Indian Cities Among Largest Data Centre Markets in Asia-Pacific: According to a report by Knight Frank, Indian cities, namely – Hyderabad, Chennai and New Delhi, have emerged as three of the top data centre markets in the Asia-Pacific (APAC) region. The report further noted that the data centre industry in India has been on a high growth trajectory, partly driven by government policies, including easier access to credit and other incentives to boost data centre investment.

James Murphy, managing director for APAC, DC Byte, said, “Previously the Asia Pacific region was dominated by a handful of ‘tier 1’ markets. This is no longer the case as the trend for decentralisation has seen both hyperscalers and data centre operators move to new markets. The latest report highlights these new markets which we expect to continue to grow in parallel with some of the region’s more established hubs.”

Reason Behind This:  Owning to the strong market fundamentals and an increasing trend towards greater localisation of data centre facilities, emerging markets like Osaka, Melbourne, Jakarta, Manila, Hanoi, Taipei, Hyderabad, New Delhi, and Chennai, grew from just under 700 MW 5-years ago, to currently over 3,000 MW, registering a whopping 300 per cent growth in capacity.

 

2. National Commission for Women Launched Digital Shakti 4.0: The National Commission for Women (NCW) launched the fourth phase of the Digital Shakti Campaign, a pan-India project on digitally empowering and skilling women and girls in cyberspace. About The Campaign:

a)      Digital Shakti started in June 2018 to help women across the nation to raise the awareness level on the digital front, to build resilience, and fight cyber-crime in the most effective ways.

b)      The Digital Shakti 4.0 is focused on making women digitally skilled and aware to stand-up against any illegal/inappropriate activity online.

c)       NCW launched the campaign in collaboration with CyberPeace Foundation and Meta.

d)      Through this project, over 3 Lakh women across India have been made aware of cyber safety tips and tricks.

e)      It is helping women in reporting & redressal mechanisms, data privacy and usage of technology for their benefits.

About The Previous session: The third phase of the program was started in March 2021 with the launch at Leh by NCW Chairperson in the presence of Lieutenant Governor Radha Krishna Mathur and Jamyang Tsering Namgyal, MP, Ladakh. In the third phase, a Resource Center was also developed under the project to provide information on all the avenues of reporting in case a woman faces any cybercrime.

 

3. Power System Operation Corporation Limited is now renamed as Controller of India Limited: India’s national grid operator ‘Power System Operation Corporation Ltd (POSOCO)’ has announced that it has changed its name to ‘Grid Controller of India Ltd’. The name has been changed to reflect the critical role of grid operators in ensuring integrity, reliability, economy, resilience and sustainable operation of the Indian electricity grid. The change in name as ‘Grid Controller of India Ltd’ is a welcome step as it has unique position at the heart of India’s energy system connecting people to the energy they use.

About the Grid Controller of India Limited: The Grid Controller of India Limited (Grid-India) operates the national load despatch centre (NLDC) and five regional load despatch centres (RLDCs). The Grid-India is also designated as the nodal agency for major reforms in the power sector such as implementation and operation of Green Energy Open Access Portal, Renewable Energy Certificate (REC) Mechanism, transmission pricing, short-term open access in transmission, deviation settlement mechanism, Power System Development Fund (PSDF), etc.

Note: POSOCO Chairman & Managing Director: S. R. Narasimhan; POSOCO Founded: March 2009

 

4. PFRDA named Suraj Bhan as chairman of NPS Trust: Pension Fund Regulatory & Development Authority has appointed Suraj Bhan as the chairman of the National Pension System Trust (NPS Trust), responsible for managing funds under the National Pension System (NPS). Bhan has been a Trustee on the Board of NPS Trust since 2018. He joined the Indian Economic Service in 1983 and retired as Director General of Labour Bureau, Chandigarh, in January 2018.

Note: Pension Fund Regulatory & Development Authority Founded: 23 August 2003; Pension Fund Regulatory & Development Authority Headquarters: New Delhi; Pension Fund Regulatory & Development Authority Chairperson: Supratim Bandyopadhyay.

 

INTERNATIONAL UPDATES:

 

1. India Hosts LeadIT Summit with Sweden at COP27 in Egypt: India and Sweden hosted the LeadIT Summit, on the sidelines of COP27 at Sharm El Sheikh in Egypt. The Leadership for Industry Transition- LeadIT initiative focuses on low carbon transition of the hard to abate industrial sector. Minister of Environment, Forest and Climate Change Bhupender Yadav emphasised that co-development is the only option to meet the targets that the world has taken for itself and without it, low carbon transition could be delayed by decades. He said, the low carbon transition of the industrial sector will not only contribute towards the reduction in required greenhouse gas emissions.

The summit concluded with the adoption of the summit statement by the members of LeadIT which re-emphasized the commitment to continue pursuing the low-carbon transition of the industry. The members also committed to providing technical assistance to new members and emerging economies.

About LeadIT: LeadIT was launched by the Prime Ministers of Sweden and India with support from the World Economic Forum (WEF) during the UN Secretary-General’s Climate Action Summit in 2019, in New York.

Members: Currently, the Group has a membership of 16 countries and 19 companies including Dalmia Cement, Mahindra Group and SpiceJet from India.

 

2. “In Our LiFEtime” Campaign Launched by India at COP 27: National Museum of Natural History (NMNH), under the Ministry of Environment Forest and Climate Change and United Nations Development Programme (UNDP), jointly launched “In Our LiFEtime” campaign. This campaign envisions to recognize youth between the ages of 18 to 23 years to become message bearers of sustainable lifestyles. The campaign gives a global call for ideas from youth across the world who are passionate about living environment conscious lives. The youth will be encouraged to submit their climate actions that contribute to lifestyles for the environment within their capacity, which are sustainable and scalable, and serve as good practices that can be shared globally. A Future Vision:

a)      In Our LiFEtime campaign, is a great way to encourage youth to become the ambassadors of sustainable lifestyle practices and grow into leaders that lead the way in biodiversity conservation and natural resource management.

b)      The campaign will involve more youth in the conversation about climate change, adaptation and mitigation, and provide them a platform to share their concerns, issues and solutions with the leaders of the world.

c)       It will amplify the voices of the youth who are increasingly climate conscious and provide recognition to young climate champions.

 

3. World Toilet Day: 19th November: The United Nations observes World Toilet Day on November 19 annually. The main aim is to raise public awareness of broader sanitation systems such as wastewater treatment, stormwater management, and hand washing. The 2022 campaign ‘Making the invisible visible’ explores how inadequate sanitation systems spread human waste into rivers, lakes and soil, polluting underground water resources.

World Toilet Day History: It was on this day in 2001 when Jack Sim, a philanthropist from Singapore founded the World Toilet Organization and declared the day as World Toilet Day. The efforts to draw attention to the sanitation crises were given focus by the UN in 2010 when they officially recognised the right to water and sanitation as human rights. In 2013, the Singapore Government and the World Toilet Organization collaborated to create Singapore’s UN resolution – Sanitation for all. This resolution urged group efforts to address the global sanitation crisis. Following the adoption of the resolution by 122 nations at the 67th session of the UN General Assembly in New York, World Toilet Day was designated as an official UN day.

 

OTHER UPDATES:

 

SPORTS

 

1. BCCI prepares to Send SOS to MS Dhoni for a BIG ROLE with Indian T20 Set-Up: According to the sources, after repeated failures at the ICC events, the Indian cricket board is set to knock the doors of the person who conquered the World events at will. After T20 World Cup debacle in Australia, the BCCI is set to send an SOS to Mahendra Singh Dhoni for a large role with the Indian T20 Cricket set-up. According to the sources in BCCI, board is deliberating to call on Dhoni for a permanent with the Indian cricket. Key Points:

a)      BCCI feels the load to manage 3 formats is proving to be too demanding for HEAD COACH Rahul Dravid. This is the reason, BCCI is deliberating to split the coaching roles. The board is interested in involving Dhoni in T20 FORMAT & use his skills to uplift the standard of Indian Cricket team.

b)      Dhoni worked with the team during T20 World Cup 2021 in the UAE but that was in an interim capacity. The involvement for about a week could not bring desired results as the team was ousted in opening round. The BCCI though feels, a bigger & larger role would certainly help Indian T20 set-up.

c)       The report claims that Dhoni is expected to retire from the game after next year’s IPL. The BCCI is keen to use his experience and technical acumen in the right manner post that and will involve the former Indian captain. The Double World Cup winner could be asked to work with a specialised set of players and drive Indian T20 team.

 

2. Gagan Narang, Mary Kom, PV Sindhu & Mirabai elected as IOA Athletes Commission member: Olympic medallists MC Mary Kom, PV Sindhu, Mirabai Chanu and Gagan Narang were among 10 eminent sportspersons elected as members of the Indian Olympic Association (IOA) Athletes Commission. All the 10 elected members of the apex body, five men and as many women, won unopposed in the polls.

Other six members: Winter Olympian Shiva Keshavan, table tennis player Sharath Kamal, women’s hockey captain Rani Rampal, fencer Bhavani Devi, rower Bajrang Lal and former shot putter Om Prakash Singh Karhana are the other six members of the elected panel. Key Points:

a)      The immediate task of the Athletes Commission would be to identify eight Sportspersons of Outstanding Merit (SOM) who would then be voting members of the IOA’s General Assembly.

b)      One of the criteria is that the sportsperson should have retired from the sport, and should have won a medal in the Olympics, Asian Games or Commonwealth Games.

c)       India’s first individual Olympic gold medallist shooter Abhinav Bindra and former India hockey team captain Sardar Singh will complete the 12-member athletes commission in their capacity as members of the corresponding bodies of the International Olympic Committee and Olympic Council of Asia respectively. Both of them will have voting rights.

Note: Indian Olympic Association Founded: 1927; Indian Olympic Association Headquarters: New Delhi; Indian Olympic Association President: Adille Sumariwalla; Indian Olympic Association Secretary General: Rajeev Mehta; Indian Olympic Association Founders: Harry Buck, Arthur Noehren.

 

BANKING AND FINANCE

 

1. GoI nominates Vivek Joshi as Director on RBI’s central board: The Reserve Bank of India (RBI) has announced that the government has nominated Vivek Joshi to its director on central board. Joshi who is the secretary of the Department of Financial Services, will hold the position of Director at RBI. The nomination has come into effect from November 15, 2022, until further orders.

Notably, Joshi took charge as the Secretary of the Department of Financial Services (DFS) under the Ministry of Finance since November 1, 2022. Between 2014-2017, he served as joint Secretary, the Department of Expenditure, Ministry of Finance, Government of India, where his responsibilities included formulation of public procurement policies for the Central Government and appraisal of publicly funded projects/schemes. He is also currently posted as Registrar General and Census Commissioner of India under the Ministry of Home Affairs since January 2019.

Note: Reserve Bank of India Founded: 1 April 1935, Kolkata; Reserve Bank of India Governor: Shaktikanta Das; Reserve Bank of India HQ:  Mumbai.

 

BUSINESS AND ECONOMY

 

1. Retail Inflation Eases to 6.77% in October: India’s retail inflation, which is measured by the Consumer Price Index (CPI), fell to a three-month low of 6.77% in October, down from 7.41% in September, due to weaker food price rises and a strong year-on-year base.

This is the 10th consecutive time that the CPI print has come above the Reserve Bank of India’s (RBI) upper margin of 6%. The RBI’s tolerance band is 2-6%. The Central Government has mandated the RBI to maintain retail inflation at 4% with a margin of 2% on either side for a five-year period ending March 2026. The overall food inflation, which accounts for nearly half the CPI basket, came in at 7.01% in October as against 8.60% in the preceding month.

 

2. TRA Ranks Jio as Strongest Telecom Brand in India: Jio ranks as India’s strongest telecom brand in India, ahead of Bharti Airtel and Vodafone Idea Ltd. The data was unveiled by the brand intelligence and data insights company TRA. TRA, formerly Trust Research Advisory, in its ‘India’s Most Desired Brands 2022’ ranked companies according to their brand strength.

Key Points:

a)      Reliance Jio topped the telecom category, followed by Bharti Airtel, Vodafone Idea Ltd, and BSNL.

b)      Adidas was the top brand followed by Nike, Raymond, Allen Solly, and Peter England in the apparel category.

c)       The automobile list was topped by BMW followed by Toyota, Hyundai, and Honda.

d)      LIC ranked 1 on the baking and financial services index had State Bank of India at number 2 and ICICI Bank at 3rd.

e)      The consumer appliances were topped by Kent, followed by Livpure, and Okaya.

f)        In consumer electronics, LG, Sony, and Samsung were in the top three of the brand lists.

g)      ITC topped the diversified conglomerate list followed by Tata and Reliance.

h)      Hindustan Petroleum Corporation Ltd (HPCL) topped the energy list, followed by Indian Oil Corporation (IOC) and Adani.

i)        Amul was the top brand in the food and beverages category, followed by Nescafe.

j)        Fogg was the top FMCG brand followed by Lakme, Nivea, and Colgate.

k)      Philips topped the fast-moving electrical goods list, MI on the gadgetry list, Himalaya in healthcare, ITC Hotels in hospitality, ACC in manufacturing, KFC in retail, and Dell in Technology.

l)        Top-ranked firms on the internet brand list are Amazon, Facebook, Flipkart, and Google.

 

AWARDS AND HONOURS

 

1. NMDC Sweeps PRCI Excellence Awards 2022: National Mineral Development Corporation (NMDC) bagged the Champion of Champions Award, sweeping the 16th PRCI Global Communication Conclave 2022, to bring home fourteen Corporate Communication Excellence Awards. The awards were presented at the Global Communication Conclave organised by Public Relations Council of India (PRCI) in Kolkata. Key Points:

a)      NMDC won Gold awards for Most Resilient Company of the Year; Internal Communication Campaign, Corporate Brochure; Best PSE Implementing CSR.

b)      It won Silver Awards in the categories of Best Use of CSR for Childcare; Corporate Community Impact; Best Corporate Event; Unique HR Initiatives; Annual Report; Arts, Culture & Sports Campaign

c)       It also won Bronze Awards for Visionary Leadership; Website of the Year; Innovative Environmental Program and Consolation Award for Best Use of social media.

 

OBITUARIES

 

1. Telugu film superstar Krishna Garu passes away: Veteran actor Ghattamaneni Krishna, famous as Krishna Garu and known in the Telugu film industry as ‘superstar, passes away. He was 80 years old. He was the father of the Telugu film superstar Mahesh Babu. His first film was Thene Manasulu released in 1965. In 2009, he received the Padma Bhushan.

Career of Ghattamaneni Krishna: Krishna began his career in Telugu movies in the early 1960s. In a career spanning over 50 years, he did more than 350 films. Some of the biggest hits of Krishna were Gudachari 116, Manchi Kutumbam, Lakshmi Nivasam, Vichitra Kutumbam, Devadasu, Bhale Krishnudu, Guru Sishyulu to name a few. Krishna married twice in his life. His first wife was Indira, with whom he had five children – Ramesh Babu, Mahesh Babu, Padmavathi, Manjula and Priyadarshini. His second wife was actor-filmmaker Vijaya Nirmala.