Daily GK Update- 20th Nov, 2023

NATIONAL UPDATES:

 

1. India Set to Extend Rice Export Bans Through 2024: India, the world’s top rice exporter, is expected to maintain its curbs on overseas sales well into 2024, a move likely to hold the staple grain at close to its highest price levels since the food crisis of 2008. Lower prices and ample stockpiles have helped make India one of the top shippers globally over the past decade, recently accounting for almost 40% of the total.  African nations like Benin and Senegal are among the top buyers.

 

2. Ladakh secures 4th GI tag for Sea Buckthorn:  In Ladakh, after GI Tag for Apricot (Raktsey Karpo), Pashmina, and Ladakhi Wood Carving, the Geographical Indication Registry, operating under the Ministry of Commerce & Industry, has officially granted the GI tag to the Department of Industries & Commerce, Ladakh and approved it as the Registered Proprietor for ‘Ladakh Sea Buckthorn’ in Class 31. Farmers of Kargil are very excited for this special recognition for Sea Buckthorn, one of the most profitable crop of UT Ladakh having 90 % production from Ladakh in India.

 

INTERNATIONAL UPDATES:

 

1. Argentina Elects ‘Shock Therapy’ Libertarian Javier Milei as President: Argentina elected right-wing libertarian Javier Milei as its new president. Milei is pledging economic shock therapy.  His plans include shutting the central bank, ditching the peso, and slashing spending, potentially painful reforms that resonated with voters angry at the economic malaise. Milei has been particularly popular among the young, who have grown up seeing their country lurch from one crisis to another.

 

2. Universal Children’s Day is observed on 20th November 2023: World Children’s Day is observed on November 20 every year and is dedicated to the little ones who make our life beautiful. Wishes, images, messages to share. The day is to raise awareness around children rights and improving their welfare. The theme for World Children's Day for the year 2023 is 'For every child, every right.'

 

3. World Day of Remembrance for Road Traffic Victims: World Day of Remembrance for Road Traffic observed on 20th November 2023 to spread to a growing number of countries on every continent. The Day has become an important tool in global efforts to reduce road casualties.  This year's theme is 'Accelerating Change' The objectives of the World Day of Remembrance for Road Traffic Victims are to provide a platform for road traffic victims and their families

 

4. India Ranks Third In Global Unicorn Rankings With 72 Unicorns: India ranks third with 72 unicorn companies, with a total valuation of $195.75 billion.  The country’s unicorns make a substantial 5 per cent contribution to the total global unicorn valuation, according to research by Journalistic Org.  The first Indian company to make an appearance in global rankings is BYJU’s, which stands at 36th place with a valuation of $11.50 billion. The US has the highest and over three times more than China in second place (172).

 

5. BofA Survey Highlights Japan and India as Preferred Markets in Asia Pacific: Japan and India are the most favored markets in the Asia Pacific region, reveals the fund manager survey (FMS) conducted by Bank of America (BofA). Japan (net 45 percent overweight) cements its place at the top of the preference stack, followed by India (25 percent), while Thailand (net 13 percent underweight), China, and Australia. The net overweight figure is the percent of fund managers saying overweight minus the percent saying underweight.

 

6. WHO and Ministry of Ayush signed the Traditional and Complementary Medicine: The Ministry of Ayush and World Health Organization (WHO) have signed the Traditional and Complementary Medicine ‘Project Collaboration Agreement’ in Geneva. The main objective of this agreement is to standardize Traditional and Complementary Medical Systems, integrate their quality and safety aspects into the National Health System, and disseminate them at the international level. Through this cooperation agreement, efforts will be made to connect Traditional and Complementary Medical Systems with the mainstream of the National Health System. To fulfil this objective, Traditional Medicine Global Strategy 2025-34 will be prepared by WHO with the support of the Ministry of Ayush. Other major objectives of the agreement include efforts to strengthen the system of training and practice in the field of Complementary Medicine System ‘Siddha’, formulation of guidelines for the listing of Traditional and Complementary Medicines, safety and related efforts, etc.

 

7. France test-fires long-range ballistic missile ‘M51.3’ : France has successfully test-fired an M51.3 long-range ballistic missile, boosting the credibility of France’s nuclear deterrence capabilities. The missile, which did not carry a nuclear weapon, was fired from the French army’s Biscarosse missile testing site in southwest France and landed in the North Atlantic, “hundreds of kilometres from any coastline. The M51.3 missile is an upgraded version of the M51, a three-stage sea-land strategic ballistic missile designed to be launched from French Navy submarines. The M51 was first test-fired from a ground base in 2006 and from a submarine in 2010, the year it was commissioned. The new M51.3 missile, which is expected to enter service around 2025, is developed by aerospace firm ArianeGroup, a joint venture between Arbus (AIR.PA) and French defence group Safran (SAF.PA) Ballistic missiles are similar to rockets and follow elliptic trajectories after launch, often leaving the earth’s atmosphere to reach lower space, unlike cruise missiles, which typically follow straight trajectories at low altitudes, powered by continuous thrust until they reach their target.

 

8. 19 November – World Toilet Day: World Toilet Day is observed every year on 19 November. The main objective of celebrating this day is to make people aware of the cleanliness of toilets.

On this day people are told about the importance of using toilets and cleanliness. This day is also used to create awareness about the cleanliness of toilets and also to stop people from defecating in the open.

 

9. 20 November – Africa Industrialization Day: Africa Industrialization Day is celebrated on November 20 each year. It’s a period when governments and organizations in several African countries consider how to accelerate the continent’s industrialization. It’s also an opportunity to draw international media attention to Africa’s industrialization concerns and challenges. A geographical representation of Africa, including the island of Madagascar, is a popular symbol of Africa Industrialization Day. Flags of African international organizations, including the African Union, as well as a variety of national flags, are hoisted in celebration. In July 1989, the Organization of African Unity (O.A.U.) conducted its 25th Ordinary Session of the Assembly of Heads of State and Government in Addis Ababa, Ethiopia. Africa Industrialization Day was announced on November 20 during this session. Africa Industrialization Day was recognized by the United Nations General Assembly on December 22, 1989, and on November 20, 1990, it was celebrated for the first time.

 

OTHER UPDATES:

 

SPORTS

 

1. Australia lifts ICC Men’s Cricket world cup beating India: Australia lifted the ICC Men’s Cricket World Cup 2023 defeating India by six wickets in the final at the Narendra Modi Stadium in Ahmedabad. Virat Kohli was awarded with the "player of the tournament" title for his exemplary performance.  He scored a total of 765 runs in 11 innings, the highest-ever runs scored by a batter in a single edition of the World Cup.  Mohammed Shami finished as the leading wicket taker of the World Cup 2023.

 

2. Virat Kohli earns the “Player of the Tournament” title in the Cricket World Cup 2023: Indian star batter Virat Kohli has been awarded with the “player of the tournament” title in the ICC World Cup 2023 for his exemplary performance. Kohli scored a total of 765 runs in 11 innings, the highest-ever runs scored by a batter in a single edition of the World Cup. He averaged at 95.62, and ended up with a strike rate of 90.3 The former Indian skipper also added 6 fifties & 3 centuries to his name.

 

BANKING AND FINANCE

 

1. India’s GDP Surpasses $4 Trillion Mark: A Historic Milestone: India's economy achieved a historic milestone when its Gross Domestic Product (GDP) crossed the $4 trillion-mark in nominal terms for the first time ever. Neither the finance ministry nor the National Statistical Office have officially confirmed whether the mark has been breached. The milestone was hailed by billionaire and Adani Group Chairman Gautam Adani, two union ministers and Maharashtra Deputy Chief Minister Devendra Fadnavis.

 

2. Kotak Mahindra Bank Appoints Ashok Vaswani As MD & CEO: Kotak Mahindra Bank has appointed Ashok Vaswani as its managing director (MD) and chief executive officer (CEO) from January 1, 2024.  The bank's board has appointed Vaswani for a period of three years, subject to the approval of the members of the bank, according to an exchange filing. The appointment of Vaswani follows the conclusion of Dipak Gupta’s term as the Managing Director and CEO of the bank

 

AWARDS AND HONOURS

 

1. Perumal Murugan wins JCB Prize for Literature: Tamil writer Perumal Murugan won the coveted JCB Prize for Literature for his novel, Fire Bird, an English translation of his Tamil novel Aalanda Patchi. The award carries ₹25 lakh cash prize. The translator is Janani Kannan and the work was published by Penguin. The prize aims to celebrate Indian writing and to help readers across the world discover the very best of contemporary Indian literature. It makes significant awards also to translators; without whose work no reader can appreciate the scale and diversity of literature written in over 20 languages.

 

2. Sheynnis Palacios crowned Miss Universe 2023: Nicaragua’s Sheynnis Palacios has been crowned Miss Universe for the year 2023, marking her country’s first win at the international beauty pageant. The 72nd edition of the Miss Universe pageant was held at the Jose Adolfo Pineda Arena in San Salvador, El Salvador. Miss Thailand Anntonia Porsild emerged the first runner-up and Miss Australia Moraya Wilson was named the second runner-up at the event. Palacios was crowned by USA’s R’Bonney Gabriel, who held the title of Miss Universe for the year 2022. According to Miss Universe, Palacios is a 23-year-old mental health activist and audiovisual producer from Managua, Nicaragua. Palacios bested entrants from 83 other countries, including Miss India Shweta Sharda, who was called into the list of top 20 contestants. Erica Robin, who was crowned the first ever Miss Universe Pakistan 2023, also made it to the top 20.

 

OBITUARIES

 

1. Former RBI Governor S. Venkitaramanan Passed Away At 92: S Venkitaramanan, the former Governor of the Reserve Bank of India (RBI), passed away early this morning due to a brief illness. He was 92 years old. According to The Business Line, he is survived by his two daughters, Girija and Sudha, along with their respective families. S Venkitaramanan was the 18th Governor of the RBI, serving for two years from 1990 to 1992. Prior to this, he was Finance Secretary in the Ministry of Finance from 1985 to 1989.

Daily GK Update- 19th Nov, 2023

NATIONAL UPDATES:

 

1. Amit S Telang appointed as Indian envoy to the Caribbean Community: The Ministry of External Affairs has announced that Amit S Telang has been concurrently accredited as the Indian Ambassador to the Caribbean Community (CARICOM) and High Commissioner to the Federation of St Kitts and Nevis and Antigua and Barbuda. Joint Secretary in the Ministry of External Affairs, Anil Kumar Rai has been appointed as the next Ambassador of India to the Federal Democratic Republic of Ethiopia.

 

2. Ashok Vaswani appointed as MD & CEO of Kotak Bank: Kotak Mahindra Bank has appointed Ashok Vaswani as its Managing Director (MD) and Chief Executive Officer (CEO) from January 1, 2024. The bank’s board has appointed Vaswani for a period of three years, subject to the approval of the members of the bank, according to an exchange filing. The appointment of Vaswani follows the conclusion of Dipak Gupta’s term as the Managing Director and CEO of the bank, slated to end on December 31, 2023. The Reserve Bank of India had cleared Vaswani’s name for the post on October 21.

 

INTERNATIONAL UPDATES:

 

1. Nicaragua’s Sheynis Palacios Crowned 72nd Miss Universe 2023: Sheynis Palacios, representing Nicaragua, won the Miss Universe crown at the 72nd edition of the fashion pageant.  The show took place in San Salvador, El Salvador at Jose Adolfo Pineda Arena on November 19. Sheynis was also crowned as Miss Nicaragua 2023 earlier this year and has a strong social media presence.  For the finale of Miss Universe 2023, Sheynin was seen wearing a stunning embellished body-hugging gown.

 

2. 42nd Edition of India International Trade Fair inaugurated at Pragati Maidan: The 42nd Edition of India International Trade Fair has inaugurated in Pragati Maidan, New Delhi. The fair will remain open for all till the 27th of this month. This year, the theme of the fair is based on Vasudhaiva Kutumbakam, which emphasizes the significance of interconnectedness and cooperation in trade. Representatives of 13 countries are also displaying their products in the fair. Bihar and Kerala are the Partner States of the Fair, while Delhi, Jammu and Kashmir, Jharkhand, Maharashtra, and Uttar Pradesh are the Focus States.

 

3. 19 November – International Men’s Day: International Men’s Day is celebrated on November 19 every year. Objective – To raise awareness about the health and well-being of men and boys and to highlight the issues that they face. The day also celebrates the positive value that men bring to the world and motivates them to become positive role models. Theme 2023 – Zero Male Suicide International Men’s Day was founded in 1999 by Dr Jerome Teelucksingh, a history lecturer at the University of the West Indies in Trinidad and Tobago. Since then, it has been celebrated every year, and currently, more than 80 countries celebrate the day.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Federal Bank introduces UPI lite for small-value digital payments: Federal Bank has launched UPI Lite to power small-value digital transactions in India. NPCI introduced UPI Lite a simplified version of the Unified Payments Interface system to cater to the growing demand for faster and more efficient small-value payments. Benefits of UPI Lite for customers include reduction in transaction time, a ready-to-access bank statement, higher payment success rate and enhanced security. UPI lite account can be created within the existing UPI app without downloading a new app.

 

2. India to become world’s third-largest economy by 2027: Finance Minister Nirmala Sitharaman said India is expected to overtake Japan and Germany to emerge as the third largest economy in the world by 2027. India’s economic growth is estimated to be just under 7 per cent during the year, the highest among major economies, despite global headwinds. Amidst supply-chain disruptions and economic turbulence due to contemporary conflicts that impact the Indo-Pacific, irrespective of whether they are occurring in relatively distant Ukraine or in relatively-proximate Israel or Yemen, and despite the palpable tensions prevalent in the South-and East China Sea, the Indian economy stands out as a bright spot. Even according to the usually conservative estimates of the IMF, the Indian economy is set to emerge as the world’s third-largest economy by 2027, hopping over Japan and Germany, as its GDP crosses the USD 5 trillion level. By 2047, India aspires to be a developed economy.

 

AWARDS AND HONOURS

 

1. Suresh Wadkar named for Maharashtra’s Lata Mangeshkar Award 2023: The Maharashtra government has chosen the esteemed playback singer and National Award winner, Suresh Ishwar Wadkar, as the recipient of the prestigious ‘Gansamragini Lata Mangeshkar Award’ for 2023. The announcement was made by Cultural Affairs Minister Sudhir Mungantiwar, recognizing Wadkar’s remarkable contribution to the world of music. A Sangeet Natak Akademi laureate, Wadkar, 68, will be presented with a cash prize, a commendation, and a memento as part of the award at a ceremony later. Hailing from an ordinary family of Kolhapur, in his younger days, Wadkar was a wrestler and then became a music teacher in Mumbai before winning a singing competition 1976 that got him his first playback singing break with the late music director Ravindra Jain in 1977.

Daily GK Update- 18th Nov, 2023

NATIONAL UPDATES:

 

1. Assam Govt Allows Merger of SEBA and AHSEC: The Assam Gov has officially given the nod to the merger of the Board of Secondary Education and the Assam Higher Secondary Education Council The state is now set to establish a singular entity overseeing the realms of both Class 10 and 12 education boards in Assam Aim: To develop, regulate, and supervise the standards and quality of School Education” in the region Objective: To streamline and enhance the overall efficiency of the education system in the state

 

2. Indian Navy Launches 4th Anti-Submarine Warfare Craft, named ‘Amini’: 'Amini', the fourth in a series of eight Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) projects built for the Indian Navy, was launched at Kattupalli in Tamil Nadu. The ship has been named 'Amini' to signify the strategic maritime importance accorded to the island of Amini at Lakshadweep, located about 400 km west of Kochi. The 77m long ASW SWC ships with a displacement of 900 tons have a maximum speed of 25 knots and endurance of approx 1800 NM.

 

3. ‘Hello Naariyal’ Call Centre Launched By CDB: The Coconut Development Board has launched ‘Hello Naariyal’ Friends of Coconut Trees call centre facility to help farmers with coconut harvesting and plant management operations.  The ‘Hello Naariyal’ call centre in Kerala functions from the headquarters of the Board in Kochi. Aim: To benefit coconut growers and extend its services to traditional coconut-growing States of Tamil Nadu, AP and Karnataka through the respective unit offices of the Board.

 

4. Solar-Powered ‘Ramayana’ Vessels to Navigate Saryu River in Ayodhya: Two solar-powered mini-cruise ships is launched on the Saryu River in Ayodhya before the inauguration of the Ram Temple in Jan 2023 The service will be provided by Alaknanda Cruise, a company based in Varanasi.  Aim: To offer a unique experience to those who wish to explore the river and its surroundings in a sustainable and eco-friendly manner. The 'Ramayana' ships are equipped with modern amenities, and their goal is to disseminate knowledge about Lord Ram's life.

 

5. Kochi In Conde Nast List of Best Places To Visit In 2024: London-based luxury travel magazine Conde Nast has listed Kochi as one of the best places to visit in Asia in 2024. Heaping praise on the city for its sustainable initiatives and local festivals, the magazine also highlights the city’s tourist attractions such as waterways, lagoons and rivers. The magazine referred to the renovation that is underway at Kochi’s 150-year-old Ernakulam Market. The recognition is a nod to the city’s commitment to providing enriching experiences for travelers while embracing eco-friendly practices and preserving its cultural heritage. Kochi International Airport (CIAL) stands out as the world’s first airport to operate solely on solar energy. This eco-friendly initiative underscores Kerala’s commitment to sustainable practices. Recently, CIAL further enhanced its offerings by introducing the largest business jet terminal in India, catering to the evolving needs of discerning travelers.

6. IPS officer Alok Sharma appointed as Chief of SPG: Senior IPS officer Alok Sharma has been appointed the director of the Special Protection Group (SPG), the elite security unit responsible for the security of Prime Minister Narendra Modi. The Appointments Committee of the Cabinet approved the appointment of Alok Sharma, a 1991-batch IPS officer of Uttar Pradesh cadre who is currently working as Additional Director General in the SPG, to the post of director from the date of assumption of charge until further orders. A resident of Aligarh, Sharma is a science graduate with a B.Tech (Mechanical) degree. He joined the IPS in 1991. He has held several important positions in Uttar Pradesh — he was Meerut IG and after his promotion, he was shifted to Police Training School in Meerut as ADG in 2016.

 

INTERNATIONAL UPDATES:

 

1. Pedro Sanchez Re-Elected As Spanish Prime Minister: In Spain, Socialist leader Pedro Sánchez has clinched the vote in parliament to lead the country for another term as prime minister He won an absolute majority in the investiture vote, securing the support of 179 members of Spain’s 350 Member Parliament He secured the majority after sealing an amnesty deal for Catalans involved in a failed bid to secede from Spain The pragmatic Catalan Republican Left is also backing the new government in return for the amnesty

 

2. International Conference on Plant Health Management ICPHM 2023: The International Conference on Plant Health Management (ICPHM) 2023 – Innovation and Sustainability will be held in the city of Hyderabad, India, during 15th – 18th November 2023.  The conference is being organized by the Plant Protection Association of India (PPAI). The main objective of this international conference is to pursue global opportunities in research and entrepreneurship related to the field of PHM.

 

3. Biden Appoints Shakuntala Bhaya To The Administrative Conference of US: US President Joe Biden has appointed Indian American Shakuntla L Bhaya to serve in a key role. Bhaya was appointed as a member of the Council of the Administrative Conference of the United States.  It is among the several new appointments announced by Biden. Her practice focuses on representing individuals who are seriously injured as a result of businesses and people making unsafe decisions.

 

4. 17 November – World Prematurity Day: World Prematurity Day is observed annually on 17 November every year. Objective – To raise awareness about the challenges faced by premature babies and their families. Theme 2023 – Small actions, big impact: Immediate skin-to-skin care for every baby everywhere In 2008, European Parent organizations united to establish this international awareness day for preterm birth (A preterm birth is characterized by babies being born alive before the completion of 37 weeks of pregnancy). Premature birth is a significant global health concern, often leading to infant deaths and various health complications.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. IndusInd Bank Launches ‘IndusInd Bank Platinum RuPay Credit Card’ on UPI: IndusInd Bank goes live with RuPay Credit Card on UPI with the launch of ‘IndusInd Bank Platinum RuPay Credit Card’, in collaboration with the National Payments Corporation of India. IndusInd Bank RuPay credit card customers can now conveniently initiate UPI payments by simply linking their credit cards with the UPI-enabled Apps.  Individuals can make transactions seamlessly on both online and offline platforms and earn accelerated rewards on their UPI transactions.

 

2. RBI Approves New Directors Of Jio Financial Services: The Reserve Bank of India has approved the appointment of Isha Ambani, Anshuman Thakur and Hitesh Kumar Sethia as directors of Jio Financial Services.  The central bank approved the appointments on November 15. This approval is valid only for six months from the date of this letter.  In case the company fails to give effect to the proposal within this time frame, it will have to apply again with reasons for having failed to effect the change on the earlier occasion.

 

3. India To Become World’s Third-Largest Economy By 2027: According to Finance Minister Nirmala Sitharaman India is expected to overtake Japan and Germany to emerge as the third largest economy in the world by 2027. Observing that Indo-Pacific is undoubtedly the world's most economically dynamic region, Sitharaman said it encompasses 60% of global GDP, and almost 50% of global merchandise trade. According to the UNCTAD, India was the 2nd largest exporter of ocean-based goods and services among developing countries in 2020.

 

AWARDS AND HONOURS

 

1. Actor Ryan Reynolds received ‘Order of British Columbia’: Canadian-American actor and film producer Ryan Reynolds expressed gratitude on receiving the ‘Order of British Columbia’, the province’s highest form of recognition. Reynolds was among 14 people appointed to the ‘Order of British Columbia’ this year. 224 citizens of the Canadian province were nominated for the honor.

 

2. Bina Agarwal and David Barkin conferred 2023 Kenneth Boulding Award: Bina Agarwal, a professor at the University of Manchester, received the Kenneth Boulding Award in Ecological Economics along with David Barkin in Colombia. The International Society for Ecological Economics presented the award for their significant contributions to ecological economics, focusing on environmental governance, agrarian change, and social equity in developing countries. The prize was granted by a jury including members like Peter May, Chair Full Professor at the Federal Rural University of Rio de Janeiro-UFRRJ (retired); Carl Folke, Anthropocene Lab, Beijer Institute, Stockholm Resilience Centre, Sweden; Lisi Krall, Professor of Economics at the State University of New York, Cortland; Jane Mariara, Executive Director of the Partnership for Economic Policy, Kenya; Volker Mauerhofer, Professor, Mid Sweden University, Department for Natural Science, Design and Sustainable Development, Sweden; and Rajeswari Raina, Professor Shiv Nadar University, Delhi.

 

OBITUARIES

 

1. BN Goswamy passes away at 90: Indian art historian and a world authority on miniature paintings, Brijinder Nath Goswamy passed away at the age of 90. Born in August 1933, the Padma Shri and Padma Bhushan awardee BNG, as he was lovingly known in art circles, often called himself an “accidental art historian”. Best known for his path-breaking work on the Pahari style of paintings, Prof Goswamy is the author of more than 26 books. In 1958, he quit the prestigious civil services after less than three years to pursue a career in academics and research, a decision that caused a stir in his family.

Daily GK Update- 17th Nov, 2023

NATIONAL UPDATES:

 

1. National Epilepsy Day is observed every year on 17th November 2023: National Epilepsy Day is celebrated every year in India on November 17 to raise awareness around the brain disorder and bust myths surrounding the disease. This year 2023, International Epilepsy Day 2023 theme is "Stigma An epileptic seizure can come all of a sudden and can be highly distressing for the person experiencing it as they aren't in control of the movements, sounds they are making or the sensations they are feeling.

 

2. JSW Bags Award to Develop Greenfield Port in Karnataka For Rs 4,119 Crore: JSW Infrastructure has received a letter of award to develop an all-weather, deep-water, greenfield port at Keni Port in Karnataka on a public private partnership basis for Rs 4,119 crore. Keni Port would have modern environment-friendly mechanised facilities for handling cape-size vessels Keni Port is envisaged for handling all types of cargoes on the west coast to serve the industries in the area covering Bellary, Hosapete, Hubballi,  and South Maharashtra

 

INTERNATIONAL UPDATES:

 

1. Amit S Telang appointed as Indian envoy to the Caribbean Community: The Ministry of External Affairs has announced that Amit S Telang has been concurrently accredited as the Indian Ambassador to the Caribbean Community and High Commissioner to the Federation of St Kitts and Nevis and Antigua and Barbuda. Joint Secretary in the Ministry of External Affairs, Anil Kumar Rai has been appointed as the next Ambassador of India to the Federal Democratic Republic of Ethiopia.

 

2. World Chronic Obstructive Pulmonary Disease Day or World COPD Day: World COPD Day had been observed every year on the third Wednesday of November. The World COPD Day 2023 theme is “Breathing is Life - Act Earlier”. It is a global healthcare event to raise awareness of Chronic Obstructive Pulmonary Disease (COPD), amongst the public around the world.  Activities have been held in over 50 countries by various organisations, making this day one of the world's most important COPD awareness and education events.

 

3. INDIA - SRI LANKA JOINT EXERCISE MITRA SHAKTI – 2023 COMMENCED: The ninth edition of India and srilanka Joint Military exercise “Exercise MITRA SHAKTI-2023” held in Pune conducted from 16th to 29th November 2023.  Aim: To jointly rehearse conduct of Sub Conventional operations under Chapter VII of United Nations Charter.  The Scope of the exercise includes synergising joint responses during counter-terrorist operations The exercise will also foster strong bilateral relations between the two neighbouring nations

 

4. IndusInd Bank, Suzlon Energy among nine firms added to MSCI India Index: As many as nine firms, including IndusInd Bank, Suzlon Energy and One 97 Communications, were added to the MSCI India Index.

 

There are nine additions to the MSCI India index are:

·       APL Apollo Tubes

·       IndusInd Bank

·       Macrotech Developers

·       97 Communications 

·       Persistent Systems

·       Polycab India

·       Suzlon Energy

·       Tata Communications 

·       Tata Motors 

 

MSCI Global Standard Index is widely used by global fund houses for benchmarking global equities portfolios.

 

5. India to host second Voice of Global South Summit: India will host the second Voice of Global South Summit in a virtual format. The sessions will be hosted by Prime Minister Narendra Modi.

The theme of the Inaugural Leaders’ Session is Together, for Everyone’s Growth, with Everyone’s Trust and that of the Concluding Leaders’ Session is Global South Together for One Future. The summit brought together 125 countries of the Global South. The summit will be structured into 10 sessions. The Summit will serve as a platform to discuss ways to sustain the momentum generated toward the common aspiration of a more inclusive, representative, and progressive world order. The first edition of the Voice of Global South Summit was hosted by India in virtual format in the month of January this year.

 

6. Global Media Congress Kicks Off in Abu Dhabi exploring Innovation: The second edition of the Global Media Congress commences at the Abu Dhabi National Exhibition Centre, UAE. Organized by the Emirates News Agency (WAM), under the patronage of Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of UAE, the three-day event brings together 257 brands, marking a 33 percent increase from last year. The opening ceremony was AI-infused, with virtual anchors and avatars guiding the proceedings, adding a futuristic touch to the inauguration. Participants from 172 countries, including 31 newcomers, contribute to the diverse dialogue on media innovations, sustainability, and training.

 

7. Pedro Sanchez re-elected Spanish PM: Spain’s lower house of parliament voted to make Pedro Sanchez prime minister for another term by a wafer-thin margin, ending a protracted deadlock after an inconclusive general election in July. His Spanish Socialist Workers’ Party (PSOE) had reached separate deals with a number of regional parties to earn their backing, including a contentious bill on amnesty for Catalan separatists that has sparked protests across Spain. PSOE’s hard-left ally Sumar, Catalan pro-independence parties Junts and ERC, Basque parties PNV and EH Bildu, Galicia’s BNG and the Canary Coalition all voted for Sanchez, who first acceded to the office in 2018.

 

8. 17 November – International Students Day: International Students Day is celebrated every year on 17 November. This celebration is particularly significant for those studying abroad, facing the challenges of navigating new cultures, languages, financial hurdles, and homesickness. International Students’ Day is the anniversary of the Nazi invasion of a university in Prague in 1939. The Nazis imprisoned around a thousand students, closed the university, and killed several people. International Students’ Day is an opportunity to honor and appreciate the diverse student community. Pursuing higher education often requires immense courage, especially for those leaving their families and homes behind. On this day, we recognize the unique challenges faced by international students and celebrate their determination to enhance their lives and support their families.

 

OTHER UPDATES:

 

 

BANKING AND FINANCE

 

1. RBI Imposes ₹90.92 Lakh Monetary Penalty On Axis Bank: The Reserve Bank of India has imposed a monetary penalty of ₹90.92 lakh on private lender Axis Bank and ₹42.78 lakh on gold loan firm Manappuram Finance for violation of certain regulatory norms. The central bank has also imposed a monetary penalty of ₹20 lakh on Anand Rathi Global Finance for non-compliance with certain provisions of the RBI (KYC) Directions, 2016. The fine has been imposed on Axis Bank “for non-compliance with certain directions issued by RBI

 

2. RBI tightens norms for unsecured personal loans for banks and NBFCs: The RBI increased the risk weighting for such loans from 100 percent to 125 percent.   The risk weighting for bank loans to higher-rated NBFCs too has been increased by 25 percentage points.   The new norms, which take immediate effect, are applicable for new as well as outstanding loans.   As the increase in risk weighting will mean banks have to set aside more capital while extending such loans, the lenders in turn could increase the lending rates on such products.

 

3. Federal Bank introduces UPI lite for small-value digital payments: Federal Bank has launched UPI Lite to power small-value digital transactions in India. NPCI introduced UPI Lite a simplified version of the Unified Payments Interface system to cater to the growing demand for faster and more efficient small-value payments. Benefits include a reduction in transaction time, a ready-to-access bank statement, a higher payment success rate, and enhanced security.  It can be created within the existing UPI app without downloading a new app.

 

4. RBI Directs Bajaj Finance to Halt Loans for ‘eCOM’ and ‘Insta EMI’ Products: Bajaj Finance, a leading non-banking finance company (NBFC), faced a setback as the Reserve Bank of India (RBI) imposed restrictions on its lending activities under two key products.  Following the RBI directive, Bajaj Finance shares declined by 3.97% to ₹6,937.15 in early trade on the Bombay Stock Exchange (BSE).  The central bank specifically instructed the NBFC to cease the sanction and disbursal of loans under its 'eCOM' and 'Insta EMI Card' products.

Daily GK Update- 16th Nov, 2023

NATIONAL UPDATES:

 

1. National Press Day is observed on 16th November 2023: National Press Day is observed on November 16, every year, in India to celebrate the importance of a free and responsible press in a democratic society.  The theme for 2023 is Media in the Era of Artificial Intelligence. Aim: To commemorate the establishment of the Press Council of India, which acts as a regulatory body for the news media in the country. The day is a reminder of the importance of a free and independent press in a vibrant democracy like India.

 

2. Indian Railways in collaboration with IRCTC to launch Bharat Gaurav Touris: Indian Railways, in collaboration with IRCTC, is set to launch the Bharat Gaurav Tourist Train to promote Dekho Apna Desh and Ek Bharat Shreshtha Bharat initiatives, Aim: To showcase India's rich cultural and religious heritage to both domestic and international tourists.  It informed that halts for boarding and deboarding include major stations like Thane, Pune, Solapur, Kanyakumari, and more.

 

3. Indian Air Force to organize air show at Air Force Station: Indian Air Force will organize an air show on November 23-24 at Air Force Station in Ambala Cantonment.  During the air show, Surya Kiran and Akashganga teams will showcase their skills in the sky alongside the aircrafts of the Indian Air Force. All necessary arrangements for the air show have been made by Indian Air Force. Regarding security, orders have already been issued under Section 144 to prohibit drones flying near the Air Force Station.

 

4. Indian Railways showcasing its progressive journey at Railway pavilion: The Ministry of Railways is participating in the 42nd India International Trade Fair (IITF) – 2023 with the theme of IITF 2023- “VasudhaivaKutumbakam - United by Trade” being organized from 14th to 27th November 2023 in New Delhi. Also, Railways’ commitment toward Net Zero Carbon emission is depicted in the pavilion. Many facets of Indian Railways have been highlighted like technological & structural advances through photos, translites, models.

 

5. K. Singh inaugurates Power Pavilion in New Delhi: The Union Minister for Power and New & Renewable Energy, R. K. Singh has inaugurated a Power Pavilion set up by the Ministry of Power in India International Trade Fair 2023 at Pragati Maidan, New Delhi. The pavilion aims to present the key initiatives in the power sector before the domestic and international industry and to also improve public awareness and participation in the schemes and policies of the government. Policy initiatives and themes highlighted at the pavilion include the National Green Hydrogen Mission, Carbon Capture Technology, One Sun-One World-One Grid, Universal Energy Access through Renewable Energy, Electricity (Rights of Consumers) Rules, Smart Energy (Smart Grid, Smart Meter), Pumped Hydro Storage as a path

 

6. PM Modi launched PVTG Development Mission and Viksit Bharat Sankalp Yatra: Prime Minister Narendra Modi has launched the Pradhan Mantri Particularly Vulnerable Tribal Groups (PVTG) Development Mission, a 24,000 crore rupees scheme on the occasion of the third Janjaatiya Gaurav Diwas from Khunti district in Jharkhand. The mission will benefit 75 PVTGs in 18 states and UTs, living in 22,544 villages in 220 districts having a population of around 28 lakhs. Modi has also launched ‘Viksit Bharat Sankalp Yatra’ to ensure saturation of flagship government schemes. Viksit Bharat Sankalp Yatra will inform educate and aware to all beneficiaries. We had also started Gram Swaraj Yojna a few years ago. The Viksit Bharat Sankalp Yatra will reach all the villages and ensure benefits of all government schemes reaching to all targeted beneficiaries. Modi has also dedicated to nation and laid the foundation stone of multiple development projects worth around 7200 crore rupees in Jharkhand.

 

7. Ajay Kumar appointed as advisor to USISPF Board: Former Indian Defence Secretary Ajay Kumar has been appointed as an advisor to the board of the US-India Strategic and Partnership Forum (USISPF). Kumar served as the defence secretary between August 2019 and October 2022. Kumar is the longest-serving secretary in the Ministry of Defence, having also served as Secretary in the Department of Defence Production. President and CEO of USISPF – Mukesh Aghi

 

8. 16 November – National Press Day: National Press Day is observed annually 16 November. This day is celebrated to honour the formation of the Press Council of India in 1966. The objective behind celebrating the day is to pay tribute to the contributions of the Press Council of India. Everyone should celebrate the day with great enthusiasm. The Press Council of India is a statutory body which was established to ensure the freedom of the press and to maintain and improve the standards of journalism. The quasi-judicial body was re-established in the year 1979 under the Press Council Act, 1978.

 

INTERNATIONAL UPDATES:

 

1. India and US sign MoU to connect dynamic startup ecosystems: India and US have signed an MoU with the objective of connecting both the countries' dynamic startup ecosystems, particularly in critical and emerging technologies (CET).  The understanding named 'Enhancing Innovation Ecosystems through an Innovation Handshake' was signed by Commerce Minister Piyush Goyal from the Indian side, who is on a 4-day US visit.  Aim: To poised to positively impact economic activity, attract investment, and generate employment.

 

2. Global Media Congress Kicks Off in Abu Dhabi exploring Innovation: The second edition of the Global Media Congress commences at the Abu Dhabi National Exhibition Centre, Organised by the Emirates News Agency (WAM) The opening ceremony was AI infused , with virtual anchors and avatars guiding the proceedings, adding a futuristic touch to the inauguration. Five new features include an innovation and startups platform, a dedicated training and education platform, and sessions discussing challenges and opportunities in the media sector.

 

3. Russia seals deal to supply Igla anti-aircraft missiles to India: Russia has signed a contract to supply Igla-S hand-held anti-aircraft missiles to India and allow production of the Igla there under licence. The Igla-S is a man-portable air defence system (MANPADS) that can be fired by an individual or crew to bring down an enemy aircraft. India is the world’s largest arms importer and Russia remains its largest supplier despite the damage to the reputation of its army and weaponry from the war in Ukraine. According to the Stockholm International Peace Research Institute (SIPRI), Russia accounted for 45% of India’s arms imports between 2018 and 2022, with France providing 29% and the United States 11%.

 

4. 16 November – World Philosophy Day: World Philosophy Day is observed annually on the third Thursday of November. This year celebrated on 16 November. This day emphasizes philosophy’s inspiring influence as both a discipline and an everyday practice capable of transforming societies and fostering intercultural dialogue. Theme 2023 – Philosophical Reflection in a Multicultural World This theme highlights the importance of philosophy in promoting understanding and dialogue between different cultures and perspectives. In 2005, recognizing philosophy’s significant contributions to shaping future societies, UNESCO institutionalized World Philosophy Day. The proclamation occurred during the 33rd session of the UNESCO General Conference in Paris, with the publication of a multilingual program document. UNESCO emphasized the importance of philosophy for the younger gener

 

OTHER UPDATES:

 

SPORTS

 

1. Mohammed Shami becomes fastest to 50 wickets in ODI World Cup history: With the seven wickets, Mohammed Shami successfully became the fastest Indian bowler to clinch 50 wickets in the history of ICC World Cup as the pacer achieved the milestone during his 17th innings. Earlier, Mitchell Starc was holding this record in 19 innings.  Mohammed Shami is again bowling a magical spell for India and is very close to getting another fifer for Team India.

 

2. Kohli surpassed Tendulkar’s record of 49 centuries in ODI matches: Virat Kohli, the former Indian cricket captain, achieved a remarkable feat by becoming the first batter in the world to score 50 One Day International (ODI) centuries. He has not just scored his 50th ODI century but has also exemplified the spirit of excellence and perseverance that defines the best of sportsmanship.  Kohli surpassed Tendulkar’s 673-run mark set during the 2003 World Cup, showcasing his consistency and dominance on the world stage.

 

3. Rohit Sharma Now First Batsman To Hit 50 Sixes In World Cup: Rohit Sharma created a unique record at the semi-final game against New Zealand. Rohit Sharma became the first batsman in the World Cup to hit 50 or more sixes and breaking Chris Gayle’s record of hitting 49 sixes. Rohit Sharma has already 51 sixes in this tournament. Rohit Sharma has also got another record to his name for hitting the most number of sixes in a single edition of the World Cup. Rohit Sharma has already hit 28 sixes in the 2023 edition of World Cup. Rohit Sharma also completed his 2,000 runs as captain of India in 44 matches.

 

BANKING AND FINANCE

 

1. IndusInd Bank Pioneers as First Live Financial Information Provider: IndusInd Bank announced that it has gone live as a ‘Financial Information Provider’ (FIP) under the new ‘Account Aggregator Framework’ of the Reserve Bank of India (RBI), making it the first bank in the country to do so. The initiative is a path breaking step taken by the RBI which will enable individuals as well as small and mid–sized businesses to avail services that will help them fulfil their financial requirements in a seamless way.

 

2. India’s WPI records 7th consecutive month of deflation in October: India’s wholesale inflation continued to decline for the seventh consecutive month in October 2023. According to data released by the Ministry of Commerce and Industry, the wholesale price index (WPI) recorded a 0.52 percent decline in October compared to the same period last year. Wholesale inflation recorded a contraction of 0.26 percent in September. The negative rate of inflation in October 2023 is primarily due to fall in prices of chemicals and chemical products, electricity, textiles, basic metals, food products, paper and paper products, etc. as compared to the corresponding month of the previous year. Data showed that retail inflation, based on Consumer Price Index (CPI), eased to 4.87 percent in October compared to 5.02 percent in September this year. The retail inflation is within the Reserve Bank of India’s upper tolerance limit of 6 percent. The Government has mandated the apex bank to maintain retail inflation at four percent with a margin of two percent on either side.

 

AWARDS AND HONOURS

 

1. Salman Rushdie receives first-ever ‘Lifetime Disturbing the Peace Award’: World-renowned author Salman Rushdie has been awarded the first-ever 'Lifetime Disturbing the Peace Award' by the Vaclav Havel Center The 'Disturbing the Peace Award to a Courageous Writer at Risk' was conferred upon Egyptian activist Alaa Abdel-Fattah. He also received another accolade, reflecting on the irony of being awarded for "disturbing the peace. He pondered which side of "the fence" this placed him on.

 

2. GAIL wins two awards at the Asian Oil and Gas Awards event: GAIL (India) Limited has won two prestigious awards at the Asian Oil and Gas Awards event held in Kuala Lumpur, Malaysia.

“The Innovation Award – India” was given to GAIL for the reduction in LNG shipping cost and emissions through Ship-to-Ship (STS) transfer of LNG with backhauling. Another top-notch award “Midstream Project of the Year – India” has been given for the installation of the first floating Compressed Natural Gas (CNG) station at Varanasi. The award recognizes the outstanding players in Asia’s oil and gas sector.