Daily GK Update- 9th Nov, 2024

 NATIONAL UPDATES:

 

1. Govt launches Rs 500 crore scheme to strengthen medical devices industry: Union Chemicals and Fertilisers Minister JP Nadda has launched a Rs 500 crore scheme to strengthen India’s medical devices industry, focusing on critical areas such as manufacturing key components and accessories, skill development, support for clinical studies, development of common infrastructure, and industry promotion.This initial outlay of Rs 500 crore will be for three years, up to financial year 2026-27.The overall scheme consists of five components, including common facilities for medical device clusters, capacity building and skill development, a marginal investment scheme for reducing import dependence, clinical studies support.

 

2. Shiv Nadar India’s most generous philanthropist, Nikhil Kamath youngest: Shiv Nadar, the founder of HCL Technologies, has retained his position as India’s most generous philanthropist for the third time in five years.The 79-year-old tech magnate donated Rs 2,153 crore in the financial year 2024 — translating to Rs 5.9 crore every single day, according to the EdelGive-Hurun India Philanthropy List 2024.Nadar’s philanthropic work is primarily channeled through the Shiv Nadar Foundation, with a strong emphasis on education and technology-driven initiatives.Rohini Nilekani, co-founder of Infosys and wife of Nandan Nilekani, took the lead as the most generous woman on the list with an annual donation of Rs 154 crore.The EdelGive-Hurun India Philanthropy List 2024 has revealed a remarkable surge in charitable donations across the country, with a collective donation of Rs 8,783 crore by 203 philanthropists, marking an impressive 55% increase in donations compared to two years ago.

 

3. Govt reconstitutes CAC to drive reforms, boost apprenticeship training: With an eye on boosting apprenticeship in the country, the ministry of skill development and entrepreneurship (MSDE) has reconstituted the central apprenticeship council (CAC) to mull over reforms in the existing rules and suggest measures to increase the uptake of on the job training by the industry.

The reconstituted CAC will have a tenure of three years and will comprise 54 members consisting of representatives from various industry associations, public sector undertakings, state governments and independent experts. The erstwhile council constituted in March 2019 had 46 members.MSDE Minister Jayant Chaudhary will be chairing the new council, while Rajya Sabha member Vikramjit Singh Sahney will be the vice-chairman of the council. Earlier, union minister of state, MSDE was the vice-chairman.

 

4. 9 November – National Legal Service Day: National Legal Services Day is observed every year on 9 November across the country.The day is primarily celebrated to promote legal awareness and ensure access to justice for all citizens, especially those from marginalized communities.This day is to educate people about their legal rights and promote mechanisms for dispute resolution through a number of projects and activities to create a more equitable society.Theme 2024 – Celebrating equal access to justice On November 9, 1995, the Legal Services Authorities Act was created with the intention of providing legal aid to underprivileged and marginalized people. As a result of the historic law, the National Legal Services Authority (NALSA) was established on December 5, the same year. Since then, National Legal Services Day is observed every year.

 

INTERNATIONAL UPDATES:

 

1. Australia proposes ban on social media for children under 16: The Australian government will legislate for a ban on social media for children under 16.Australia is trialing an age-verification system to assist in blocking children from accessing social media platforms, as part of a range of measures that include some of the toughest controls imposed by any country to date.A number of countries have already vowed to curb social media use by children through legislation, though Australia’s policy is one of the most stringent.No jurisdiction so far has tried using age verification methods like biometrics or government identification to enforce a social media age cut-off, two of the methods being trialed.Australia’s other world-first proposals are the highest age limit set by any country, no exemption for parental consent and no exemption for pre-existing accounts.

 

2. 9 November – Uttarakhand Foundation Day: Uttarakhand Foundation Day is annually celebrated on November 9, and in 2024, it marks the 24th anniversary of the formation of the state.Uttarakhand is commonly referred to as the “Land of the Gods (Devbhumi),” due to several Hindu pilgrimage sites in the state.The state of Uttarakhand was formed on November 9, 2000, after a prolonged struggle by the people of the region, who sought a separate state due to cultural, geographic, and administrative differences from Uttar Pradesh.Originally known as Uttaranchal, it formed the 27th state of India, with the name being officially changed to Uttarakhand in 2007.

 

OTHER UPDATES:

 

SPORTS 

 

1. Harmanpreet Singh wins FIH Player of the Year; PR Sreejesh receives Goalkeeper of Year title at FIH Hockey Awards: Indian Men’s Hockey Team captain Harmanpreet Singh and former goalkeeper PR Sreejesh have won the FIH Player of the Year and Goalkeeper of the Year titles for the year 2024. Both Harmanpreet and Sreejesh received recognition during the 49th FIH Statutory Congress in Oman.Two-time Olympic bronze medallist Harmanpreet received over 63 per cent of all votes cast in his category. Similarly, Sreejesh was highly popular among voters, polling over 62 per cent of all votes in his category.The winners were selected through a voting process involving an expert panel, national hockey associations, fans, and media.Harmanpreet Singh won his third FIH Player of the Year award in 2024, having won it in 2021 and 2022. Incidentally, another Indian, Hardik Singh, won the 2023 Award.

 

BANKING AND FINANCE

 

1. SBI and APIX team launches SBI Innovation Hub for Fintechs: State Bank of India (SBI) has launched the ‘SBI Innovation Hub’ in partnership with APIX, a global collaborative innovation platform for financial institutions and FinTechs.SBI Innovation Hub provides a dedicated space for FinTechs, startups, and innovators worldwide to design next-generation financial solutions tailored to meet the digital needs of SBI’s diverse customer base.The initiative seeks to promote financial innovation, and digital transformation, and enhance financial inclusion.To facilitate this digital transformation, the SBI Innovation Hub provides participants with access to over 250 financial service APIs from SBI. This allows them to create and customize their solutions within a secure Sandbox environment.

 

2. Cashfree launches pilot for cross-border payments: Cashfree Payments has partnered with Indian companies like Swiggy and Nykaa to enable international customers to make payments in India.This pilot program caters to users of RuPay cards and UPI, which are not typically recognized for global transactions.Cashfree’s cross-border payments license allows them to facilitate seamless transactions for both import and export businesses, as well as individual users.This pilot programme caters to UPI and RuPay card users, which are not typically recognised for global transactions.

 

3. GenWise launches UPI payments for senior citizens with secure interface: GenWise has launched the UPI payments on its app for senior citizens. This is the industry’s first-ever introduction of UPI for elders, offering a simple user interface, enhanced security, and cyber fraud awareness.GenWise UPI has been developed in collaboration with Axis Bank, which is acting as the sponsor bank for facilitating transactions.Over the years, UPI has become an integral part of everyday transactions, with over 400 million unique users.In October alone, the platform processed over 16.5 billion transactions. However, over 250 million Indian elders have remained less connected to this transformation due to fear of the unknown and the complex interfaces of other apps.

 

AWARDS AND HONOURS

 

1. Winners of the 2024 FIH Hockey Star Awards: Player of the Year

 

Male- Harampreet Singh (India)

Women- Yibbi Jansen (Netherlands)

 

Goalkeeper of the Year

 

Male- PR Sreejesh (India)

Women- Ye Jiao (China)

 

 

 

Daily GK Update- 8th Nov, 2024

 NATIONAL UPDATES:

 

1. Madhya Pradesh-Rajasthan joint panel formed for coordination on cheetah project: In the wake of incidents of cheetahs from Madhya Pradesh straying into neighbouring Rajasthan, a joint corridor management committee of both the states has been formed to work for conservation of the felines.The panel will also discuss development of suitable areas for future shifting of cheetahs from Madhya Pradesh’s Kuno National Park (KNP), and Gandhi Sagar Sanctuary area and recommend measures for improvement including the pre-augmentation base, an official said in a statement.Under the ambitious cheetah reintroduction project, eight Namibian cheetahs were released into enclosures at the KNP in Sheopur district on September 17, 2022. Later, another 12 cheetahs were brought to the park from South Africa in February 2023.The committee will also evaluate the possibilities of joint tourist routes in the areas bordering both states like National Chambal Gharial Sanctuary area, Kuno National Park and Ranthambore National Park etc.

 

2. C-DOT, IIT-Roorkee tie-up to develop millimeter wave transceiver for 5G rural connectivity: Centre for Development of Telematics (C-DOT), the telecom research and development (R&D) centre of the Department of Telecommunications (DoT), have signed an agreement with the Indian Institute of Technology-Roorkee (IIT-Roorkee) for the development of a “millimeter wave transceiver for 5G rural connectivity”.The agreement is signed under the Telecom Technology Development Fund (TTDF) scheme of the Department of Telecommunications, Government of India.The 3rd MAHASAGAR theme was ‘Training Cooperation to Mitigate Common Maritime Security Challenges in IOR(Indian Ocean Region).”This scheme, designed to fund Indian startups, academia, and R&D institutions, is a crucial enabler for designing, developing, and commercializing telecommunication products and solutions.

 

3. Bihar’s Sultanganj railway station will be renamed as Ajgaibinath Dham: Bihar Deputy Chief Minister Samrat Choudhary announced that Sultanganj railway station in the Bhagalpur district will be renamed after the revered Hindu shrine, Ajgaibinath Dham.This decision underscores the government’s commitment to honoring the region’s cultural and religious heritage.Ajgaibinath Temple, an ancient site dedicated to Lord Shiva, is located in Sultanganj and is notable for its intricate carvings and stone inscriptions. Situated along the banks of the holy Ganga River, the temple holds significant spiritual importance for devotees.

 

4. NHIDCL and AICTE Sign MoU for Internship Program for UG and PG Students: National Highways and Infrastructure Development Corporation Ltd. (NHIDCL), a CPSE under the Ministry of Road Transport & Highways, GoI and All India Council for Technical Education (AICTE) signed a MoU to provide internship opportunities to Under Graduate (UG)/ Post Graduate (PG) students.NHIDCL also launched an online portal for the Internship Program. The portal was inaugurated in the presence of officials from both NHIDCL and AICTE.This program aims to offer experiential learning opportunities to UG and PG students nationwide specially in the North-Eastern Region, UTs of J&K and Ladakh and A&N Islands.The MoU was signed for a period of five years, outlines the roles and responsibilities of AICTE and NHIDCL. AICTE will provide technical support for the platform, while NHIDCL will oversee programmatic and non-technical support for the programme.

 

5. 4th edition of AIM-ICDK Water Innovation Challenge paving way for global water solutions through Indo-Danish Collaboration: The fourth edition of the AIM-ICDK Water Innovation Challenge 4.0 successfully concluded at the 2024 Next Generation Digital Action (NGDA) in Copenhagen, Denmark, marking a significant achievement in the growing Indo-Danish Green Strategic Partnership.This year’s challenge reinforced its position as a premier platform for fostering innovative and sustainable solutions to global water issues.The challenge brought together key collaborators, including Atal Innovation Mission (AIM), NITI Aayog, Innovation Centre Denmark (ICDK), and DTU Skylab under the DTU Next Generation Action Program, alongside invaluable support from the International Centre for Clean Water (ICCW), the Ministry of Jal Shakti, the Embassy of Denmark, Denmark’s Environmental Protection Agency, and the DANIDA Fellowship.

 

6. 7 November – National Cancer Awareness Day: National Cancer Awareness Day is observed every year on 7 November.The day aims to raise awareness about cancer prevention, early detection, and treatment.It also marks the birth anniversary of Marie Curie, the Polish-French physicist and chemist, whose groundbreaking discoveries of radium and polonium have played a key role in cancer treatment.Theme 2024 – Hope, love, and strength: our weapons against cancerNational Cancer Awareness Day was established in September 2014 by the then Union Minister of Health and Family Welfare, Dr. Harsh Vardhan. The day aims to educate the public about cancer, its treatments, and the importance of early intervention in improving survival rates

 

INTERNATIONAL UPDATES:

 

1. South Africa launches Trusted Tour Operator scheme to boost tourism from India: South Africa has introduced a new scheme called the Trusted Tour Operator Scheme (TTOS) to boost tourism from India and China.This initiative aims to increase job creation through higher tourist numbers. Indian tourists account for only 3.9 per cent of all international visitors to South Africa – and China for only 1.8 per cent.Research indicates that boosting tourism by only 10 per cent per year can increase annual economic growth by 0.6 per cent and create thousands of new jobs for South Africans,” the department stated.In 2023, over 100 million Chinese tourists travelled abroad, yet only 93,000 visited South Africa. By contrast, Australia attracted over 1.4 million Chinese visitors.Indian tourists currently represent just 3.9% of all international arrivals in South Africa, while Chinese visitors account for 1.8%. The Department of Home Affairs said that even a 10% rise in tourism could improve economic growth by 0.6% and generate thousands of jobs.

 

2. Donald Trump becomes First Republican To Win Popular Vote In 20 Years: Donald Trump has become the first Republican in two decades to secure the popular vote in the US presidential elections.The former president has reclaimed the White House, potentially becoming the first Republican to secure the popular vote since George W Bush in 2004.Donald Trump registered a landslide win in the 2024 US elections, securing 295 Electoral College votes. His Democrat rival, Kamala Harris, managed to secure 226.In the 2004 US Presidential elections, Bush won 62,040,610 votes and 286 electoral votes compared to Democratic nominee John Kerry who secured 59,028,444 votes and 251 electoral votes.According to election voter data of the past 20 years, Barack Obama achieved the largest popular vote victory with 69.5 million votes (52.9 per cent) and a substantial 365 electoral votes in 2008.

 

3. Visa appoints Rishi Chhabra as country manager for India: Digital payments company Visa named Rishi Chhabra as the country manager for India.Chhabra, who joined Visa in 2023 as VP and head-merchant services and acquiring for India and the South Asia markets, was key to driving the firm’s key merchant, acquirer and cobrand relationships.Before joining Visa, he served as country head-India and Sri Lanka at Fiserv. Previously, he has held leadership positions in organisations like First Data and PayPal, and has worked with JP Morgan, ABN AMRO and General Electric.

 

4. 8 November – World Radiography Day: World Radiography Day is celebrated every year on November 8 to mark the discovery of X-rays.Theme 2024 – Radiographers: Seeing the UnseenWorld Radiography Day marks the anniversary of the discovery of X-rays by Professor Wilhelm Conrad Roentgen in 1895 at Wuerzburg University in Germany. He discovered X-rays by accident while working with a cathode-ray tube in his lab.This important discovery was quickly recognised and within a month, doctors in Europe and the United States began using X-rays for medical diagnoses. 

 

OTHER UPDATES:

DEFENCE

 

1. 3rd edition of MAHASAGAR virtually hosted by the Indian Navy: The Indian Navy conducted its third bi-annual interaction, ‘MAHASAGAR’, with the head of foreign Navies.The Indian Navy hosted the first high-level virtual interaction, MAHASAGAR, on 29 November 2023. It was hosted by the then-Indian Naval Chief Admiral R. Hari Kumar.In the 3rd edition, 10 countries—Bangladesh, Comoros, Kenya, Madagascar, Maldives, Mauritius, Mozambique, Seychelles, Sri Lanka, and Tanzania—participated.The Chief of Naval Staff of the Indian Navy always heads the interactions, which are conducted virtually.Chief of Naval Staff Admiral Dinesh Kumar Tripathi chaired the 3rd edition of the MAHASAGAR.

 

2. Northern Command of Army inducts Indigenous 550 Asmi machine pistols: The Northern Command of the Indian Army has inducted 550 indigenously designed, developed, and manufactured Asmi machine pistols. The Asmi machine pistols are manufactured by Hyderabad-based Lokesh Machine Limited.Earlier, the company successfully delivered 550 indigenously designed, developed, and manufactured Asmi submachine guns to the Northern Command of the Indian Army.This is the first batch of the 100 per cent Indian-made weapon intended to equip Special Forces for close-quarter battles and specialised operations in India’s Northern Theatre.

This 100 per cent Made-in-India weapon’s induction demonstrates the unwavering commitment of the Indian Army to Atmanirbhar Bharat, propelling the nation toward self-sufficiency in defence manufacturing.

 

SPORTS 

 

1. LG Ladakh, BD Mishra Inaugurates 4th LG Horse Polo Cup 2024: In Ladakh, Lieutenant Governor of Ladakh, Brigadier (Dr) BD Mishra, inaugurated the 4th LG Horse Polo Cup 2024 at Horse Polo Ground in Goshan Drass.During the event, he also unveiled Ladakh’s first Polo Stadium at Goshan Drass, a landmark facility constructed at a cost of 6.84 crore rupees.This event underscores Ladakh’s dedication to preserving its polo heritage and enhancing sports infrastructure for local talent and tourism alike.

 

SCIENCE AND TECHNOLOGY

 

1. Zimbabwe launches second satellite to advance space programme: Zimbabwe has launched its second satellite, ZIMSAT –2, marking another significant stride in the country’s space programme.In November 2022, the country deployed its inaugural satellite, ZimSat-1.A low earth observation satellite- ZIMSAT-2, was launched from the Vostochny Cosmodrome in eastern Russia in a collaborative effort between the Zimbabwe National Geo-Spatial and Space Agency (ZINGSA) and Southwest State University in Russia.ZIMSAT-2 is equipped with a high-resolution multispectral camera designed to support various applications, including agriculture, resource exploration, and environmental monitoring.

 

BANKING AND FINANCE

 

1. FC to partner with Bajaj Finance to pump in $400 mn for climate finance: International Finance Corporation (IFC) will partner with Bajaj Finance to invest $400 million out of the $1 billion fundraising to aid in the expansion of the latter’s EV fleet, energy-efficient consumer goods (EECG), and women empowerment.The partnership will also boost Bajaj Finance’s ability to fund and support more women-owned micro-enterprises and women micro-borrowers.IFC’s $400 million loan will enable Bajaj Finance to expand access to finance for customers opting to buy EVs, including 2-wheelers, 3-wheelers and 4-wheelers, and strengthen its presence in the EECG space.The funding is aimed at increasing competitiveness in the climate finance market, supporting the country’s climate goals, and promoting financial inclusion.IFC is a member of the World Bank Group with focus on the private sector in the emerging market. In the FY 2024, IFC committed $56 billion to private companies and financial institutions in developing countries.

 

Daily GK Update- 7th Nov, 2024

 NATIONAL UPDATES:

 

1. Cabinet approves PM-Vidyalaxmi scheme to provide financial support to meritorious students: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved PM Vidyalaxmi, a new Central Sector scheme that seeks to provide financial support to meritorious students so that financial constraints do not prevent anyone from pursuing higher studies.As per the scheme, anybody who gets admission to Quality Higher Education Institutions (QHEIs) will be eligible to get collateral-free, guarantor-free loans from banks and financial institutions to cover the full amount of tuition fees and other expenses related to the course.An outlay of ₹3,600 crore has been approved for the scheme under which education loans will be facilitated to students securing admissions in the top 860 QHEIs of the country based on the National Institutional Ranking Framework (NIRF). This will cover more than 22 lakh students every year.

 

2. Cabinet approves infusion of Rs 10,700 crore equity in FCI to strengthen: The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, has approved infusion of equity of 10,700 crore for working capital in financial year 2024-25 in Food Corporation of India (FCI).The decision is aimed at bolstering the agricultural sector and ensuring the welfare of farmers nationwide. This strategic move shows the Government’s steadfast commitment to supporting farmers and fortifying India’s agrarian economy.FCI started its journey in 1964 with authorised capital of Rs. 100 Crores and equity of Rs. 4 Crores. The operations of FCI increased manifolds resulting in increase of authorised capital from Rs. 11,000 crores to Rs. 21,000 crores in February, 2024.The equity of FCI was Rs. 4,496 Crores in Financial Year 2019-20 which increased to Rs. 10,157 Crores in the Financial Year 2023-24. Now, Government of India has approved significant amount of equity of Rs. 10,700 Crores for FCI which will strengthen it financially and will give a big boost to the initiatives taken for its transformation.

 

3. Andhra Pradesh CM launches Deepam 2.0 Scheme to provides free Gas Cylinders to Eligible Families: Andhra Pradesh Chief Minister Chandrababu Naidu has launched the Deepam 2.0 scheme in Edupuram, Ichapuram Mandal, Srikakulam district, as part of the “Super Six Promises” initiative.This program provides free gas cylinders to eligible families, aiming to improve their quality of life.Marking the formal launch of the Deepam 2.0 scheme, the Chief Minister flagged off gas cylinder delivery vehicles and personally handed over the first cylinder to beneficiary Ambati Shantamma.Addressing the public meeting at ‘Praja Vedika,’ he assured that the cost of the gas cylinders would be refunded to all beneficiaries within 48 hours.He further announced that beneficiaries now could take social pensions once every three months.

 

4. MP Cabinet Increases Women’s Reservation In State Government Jobs To 35%: Madhya Pradesh cabinet has approved a proposal to raise the reservation for women in state government jobs from 33% to 35%. The decision was made during a cabinet meeting led by Chief Minister Mohan Yadav.The increased 35% women’s quota will apply to all recruitments conducted by the state Public Service Commission and the Employees Selection Board.The cabinet ratified the chief minister’s September 13, 2023, decision and subsequent notification under the Madhya Pradesh Civil Services (Special Provisions for Appointment of Women) Rules, 1997.

 

INTERNATIONAL UPDATES:

 

1. 7 November – Infant Protection Day: Infant Protection Day is observed every year on November 7.Objective – To raise awareness about the importance of ensuring the safety, health and well-being of infants.Theme 2024 – Protecting Our FutureThis day serves as a reminder of the vulnerabilities that newborns and infants face and the critical role that society plays in safeguarding their future. It encourages parents, caregivers, healthcare professionals and communities to come together and take actions that can reduce infant mortality rates, promote healthy development, and create a safe environment for infants to thrive.

 

OTHER UPDATES:

DEFENCE

 

1. 21st Edition of India – US Military Cooperation Group meeting held in New Delhi: The 21st edition of India – US Military Cooperation Group (MCG) meeting was conducted at the Manekshaw Centre, New Delhi.The meeting covered a wide range of topics, including capacity building, training exchanges, defence industrial cooperation and the advancement of joint exercises that bolster preparedness for conventional and hybrid threats.The MCG is a landmark forum aimed at enhancing defence cooperation and fostering strategic and operational defence collaboration between the Armed Forces of both countries.The 21st MCG meeting represents a step forward in advancing the shared objectives of India and US to ensure regional and global security, counter emerging threats and build mutual capabilities.

 

SPORTS 

 

1. Mandeep Jangra wins WBF super featherweight world title: Haryana’s professional boxer Mandeep Jangra won the World Boxing Federation’s super featherweight world title by beating the British boxer Conor McIntosh.The World Boxing Federation’s super featherweight world title match was held in the Cayman Islands.The 31-year-old Indian boxer who trains under legendary American boxer Roy Jones Junior turned professional in 2021.Before turning professional, Mandeep Jangra won a silver medal in the 2013 Asian Championship and a silver medal at the 2014 Glasgow Commonwealth Games.In 2015, the government of India awarded Mandeep the Arjuna Award.

 

 

 

 

SCIENCE AND TECHNOLOGY

 

1. ISA hosts the third edition of the High-level Conference on New Technologies for Clean Energy Transition: The International Solar Alliance, in a global collaboration with the Ministry of New & Renewable Energy, the Government of India, the Asian Development Bank, and the International Solar Energy Society, organised the third edition of the High-level Conference on New Technologies for Clean Energy Transition.This significant event took place on the sidelines of the Seventh Session of the ISA Assembly in New Delhi uniting stakeholders worldwide.The conference’s overarching goal is to translate dialogue into action. Deep-dive sessions focusing on new-age solar technologies, emerging storage technologies, and unleashing solar’s role in accelerating equitable economic, and social.An added attraction at the inaugural was the launch of the third edition of the World Solar Report series. Launched in 2022, the series provides a concise overview of global advancements, challenges, and trends in solar technology, markets, and investments.

 

2. ISRO set to launch EU’s Proba 3 Sun observation mission in December 2024: The Indian Space Research Organisation (ISRO) is set to launch the European Union’s Proba 3 Sun Observation Mission in December.The two satellites for the Proba-3 mission, aimed at studying the Sun, arrived at Sriharikota to be integrated with ISRO’s Polar Satellite Launch Vehicle (PSLV).The Proba-3 satellite, which arrived in Sriharikota this morning is designed to observe the Sun’s faint corona. This mission marks India’s third launch for the European Union, following support for the Proba-1 and Proba-2 satellites, but stands out due to its focus on solar observation.The two Proba-3 spacecraft will be launched together on a PSLV-XL launcher and placed in a highly elliptical orbit, reaching up to 60,000 km from Earth before descending as close as 600 km.This high orbit is essential because the spacecraft will conduct active formation flying for around six hours at maximum altitude, where Earth’s gravitational influence is weaker, reducing the amount of propellant needed for position adjustments.

 

BANKING AND FINANCE

 

1. Paytm launches UPI statement download for easy expense tracking: One97 Communications Limited (OCL), which owns Paytm, India’s leading digital payments and financial services provider, has launched a new feature allowing users to download UPI statements directly from the app.This service enables users to access and monitor their financial transactions for any date range or financial year in a simple PDF format.The UPI statement download feature addresses the rising demand among Paytm users for greater transparency and control over their finances. Users can now view detailed transaction data, including transaction amounts, recipient information, bank details, and timestamps, all organized for easy reference.In addition to this latest feature, Paytm offers other UPI-based services, such as Peer-to-Peer (P2P) bank transfers, UPI Lite for small transactions under ₹2,000 to prevent cluttered bank statements, and the option to link RuPay Credit Cards with UPI for seamless bill payments. Users can also check bank balances and make self-account transfers with ease on the app.

2. Indian Overseas Bank Unveils Online Re-KYC Service for Hassle-Free Updates: Indian Overseas Bank (IOB) has unveiled an online Re-KYC service to simplify the Know Your Customer (KYC) update process for its customers.This digital initiative allows clients to update their KYC information without visiting a branch, enhancing convenience and accessibility.With this online Re-KYC option, customers who have already submitted valid KYC documents can update their information using one of three convenient channels: Website: Visit iob.in, go to the Self-Service Digital Hub on the homepage, select “Re-KYC,” and follow the prompts to complete the process.

SMS: Send an SMS in the format “REKYC <Space> CIF ID” to 9643-01-9643 from your registered mobile number (e.g., REKYC 198979695). Email: Send an email with the subject “REKYC <Space> CIF ID” to rekyc@iob.in from your registered email address (e.g., REKYC 198979695).

 

3. GoI and ADB sign $200 million loan to upgrade water supply, sanitation, urban mobility, and other urban services: The Government of India and the Asian Development Bank (ADB) signed a $200 million loan to help upgrade water supply, sanitation, urban mobility, and other urban services in the state of Uttarakhand.The project aims to create urban infrastructure that is resilient to climate and environmental risks such as floods and landslides, ensuring the safety and health of Uttarakhand’s population.The project will enhance transportation, urban mobility, drainage, flood management, and overall public services in Haldwani, the economic hub of the state. Additionally, it will improve water supply delivery in four cities – Champawat, Kichha, Kotdwar, and Vikasnagar – by developing efficient and climate-resilient water supply systems.

 

 

Daily GK Update- 6th Nov, 2024

 NATIONAL UPDATES:

 

1. Cairn becomes India’s 1st oil & Gas Company to join UNEP’s OGMP 2.0.: Cairn Oil & Gas, part of Vedanta Group, has signed a memorandum of understanding with the United Nations Environment Programme’s flagship methane reporting and mitigation initiative – Oil & Gas Methane Partnership (OGMP) 2.0, making it the first oil and gas producer in India to commit to the effective reduction of methane emissions. OGMP 2.0 established a comprehensive framework that includes best practices for emissions management and a robust reporting system. It emphasises accurate measurement, reporting, and verification (MRV) of methane emissions to drive reductions effectively. OGMP 2.0 covers over 40 per cent of global oil and gas production empowering companies to improve the quality and accuracy of emissions data for effective methane reduction.Earlier this year, Cairn had announced the fast-tracking of its net zero commitments to 2030.

 

2. Union Minister of Consumer Affairs, Food and Public Distribution Pralhad Joshi launches Phase – II retail sale: The Union Minister of Consumer Affairs, Food and Public Distribution, and New & Renewable Energy, Pralhad Joshi, has launched Phase – II of the retail sale of Bharat Atta and Bharat Rice by flagging off mobile vans of NCCF, NAFED, and Kendriya Bhandar here.Bharat Atta at MRP of Rs.30 per kg and Bharat Rice at MRP of Rs.34 per kg is being made available to consumers during Phase-II.In the initial stage of Phase – II, 3.69 LMT of Wheat and 2.91 LMT of Rice are made available for retail sale. During Phase – I, around 15.20 LMT of Bharat Atta and 14.58 LMT Bharat Rice was made available to general consumers at subsidized rates.Bharat Atta and Bharat Rice will be available at stores and mobile vans of Kendriya Bhandar, NAFED and NCCF and e-commerce /big chain retailers. During the Phase-II. ‘Bharat’ brand Atta and Rice will be sold in 5 Kg and 10 Kg bags.

 

3. ONGC, NTPC form joint venture to advance renewable, new energy interests: Leading public sector undertakings (PSUs) NTPC Limited and Oil and Natural Gas Corporation (ONGC) announced the formation of a 50:50 joint venture company (JVC) to further promote their interests in the renewable and new energy arena.The JVC between the country’s largest power generating company and largest oil and gas producer has been formed through their green energy subsidiaries – NTPC Green Energy Ltd (NGEL) and ONGC Green Energy Ltd.The new company will venture into various renewable energy and new energy opportunities including solar and wind energy, both onshore and offshore, and green molecule. Such as green hydrogen, green ammonia, sustainable aviation fuel (SAF), and green methanol.It will also focus on new and emerging technologies in the field such as energy storage including both pump and battery storage, e-mobility, carbon credits and green credits.

 

4. Rahul Bhave named as MD and CEO of IFCI: FSIB, the headhunter for directors of state-owned banks and financial institutions, has recommended Rahul Bhave for the position of Managing Director (MD) and CEO of IFCI Ltd.Bhave is currently the Deputy Managing Director of IFCI.Besides, FSIB has recommended Palash Srivastava for the position of Deputy Managing Director in IIFCL.

 

5. SBI appoints Debasish Mishra as Chief General Manager of New Delhi Circle: State Bank of India (SBI) has appointed Debasish Mishra as the Chief General Manager of its New Delhi Circle.Mishra has experience across Credit, Operations, Forex, IT, HR, and MSME sectors, both in India and overseas.Mishra, a Certified Financial Planner and Chevening Gurukul Scholar, has been appointed at a crucial time for SBI’s New Delhi Circle. This circle, which includes over 1,700 branches, is focused on strengthening its market position in line with the country’s growth.Currently, SBI operates 17 local head offices, each led by Chief General Managers, who oversee a network of approximately 22,600 branches nationwide.

 

INTERNATIONAL UPDATES:

 

1. India, Algeria sign MoU on bilateral defence cooperation: India and Algeria have signed the Memorandum of Understanding (MoU) on bilateral defence cooperation.The MoU will elevate the defence partnership between both nations, fostering mutual understanding and enhancing strategic interests.Deliberations were held on furthering bilateral military cooperation and capacity building. Make In India initiatives and technology exchange were also discussed between both military leaders.

 

2. Henley Passport Index 2024: India at 83^rd; topped by Singapore: Singapore has been named the world’s most powerful passport again, offering its citizens visa-free access to 195 countries, according to the latest Henley Passport Index released in October 2024.France, Germany, Italy, Japan, and Spain shared the second place, granting their citizens visa-free access to 192 countries, as per the latest rankings.The United States ranked 8th, giving its citizens visa-free entry to 186 countries.Meanwhile, India ranked 83rd, providing its citizens with visa-free access to 58 countries.Asian countries have consistently led the Henley Passport Index for several years. Nations such as Japan, Singapore, and South Korea frequently occupy the top positions among the world’s most powerful passports, granting their citizens visa-free access to numerous countries.

 

3. EAM Jaishankar inaugurates India’s new consulate in Brisbane: External Affairs Minister S Jaishankar has inaugurated the new Consulate General of India in Brisbane, underlining that this will contribute to strengthening India’s ties with the Queensland state, promoting trade and serving the diaspora.Queensland is home to almost 100,000 out of the nearly one million people of Indian-origin living in Australia, and India is the state’s second-largest export market. Besides Brisbane, India has consulates in Melbourne, Perth and Sydney.The consulate in Brisbane will be headed by consul general Neetu Bhagotia.

 

4. UDC presidential candidate Duma Boko declared as 6th president of Botswana: Duma Boko, the presidential candidate of the Umbrella for Democratic Change (UDC), was declared Botswana’s sixth president. Botswana’s Chief Justice, Terence Rannowane, announced on national television.According to the southern African country’s electoral law, the polling will determine 61 members of the National Assembly and 609 local councillors, with the party that holds at least 31 parliament seats to be declared as the winner.While the counting is yet to be finalised, UDC has already secured 34 members of the National Assembly, and the ruling party, the Botswana Democratic Party, got four seats.

 

5. The International Solar Alliance Announces the Selection of its third Director General: The seventh session of the ISA Assembly in progress in New Delhi selected Mr Ashish Khanna from the Republic of India as its third Director General.The other office candidates included Mr Wisdom Ahiataku—Togobo from Ghana and Mr Gosaye Mengistie Abayneh from Ethiopia.The Director General of ISA plays a crucial role in supporting the Assembly in advancing theInternational Solar Alliance mandate. This includes supporting to Member Countries in addressing common challenges and engaging in coordinated action to scale up the deployment of solar energy globally.Dr Ajay Mathur, who has led the Alliance since 2021, will conclude his tenure on 14 March 2025. Under his leadership, the Alliance has achieved significant milestones, including a monumental rise in Member & Signatory Countries tallying at 103 and 17, respectively.

 

6. 6 November – International Day For Preventing The Exploitation Of The Environment In War And Armed Conflict: International Day For Preventing The Exploitation Of The Environment In War And Armed Conflict is observed every year on 6 November.On May 27, 2016, the United Nations Environment Assembly adopted resolution UNEP/EA.2/Res.15, which recognized the role of healthy ecosystems and sustainably managed resources in reducing the risk of armed conflict, and reaffirmed its strong commitment to the full implementation.

 

OTHER UPDATES:

DEFENCE

 

1. India-Vietnam joint military exercise commences at Ambala: The 5th Edition of Vietnam Indian Bilateral Army Exercise “VINBAX 2024” commenced at Ambala. The exercise will be held from November 4 to 23 at Ambala and Chandimandir.The conduct of VINBAX-2024, as a field training exercise with enhanced scope from previous editions of bilateral exercise, will strengthen mutual confidence, and interoperability and enable sharing of best practices between the Indian Army and Vietnam People’s Army.The aim of VINBAX-2024 is to enhance joint military capability of both sides in employment and deployment of engineer company and medical teams to undertake engineering tasks as part of United Nation Contingent in Peace Keeping Operations under Chapter VII of the United Nations Charter.

 

2. India-Bhutan Border ICP Inaugurated in Assam: The first Integrated Check Post (ICP) along the India-Bhutan border was inaugurated at Darranga, Assam. This event marked an important milestone in India-Bhutan relations. Assam Governor Lakshman Prasad Acharya and Bhutan’s Prime Minister Dasho Tshering Tobgay were present at the inauguration. An Integrated Check Post (ICP) is a facility that streamlines customs and immigration processes at international borders. It aims to facilitate trade and movement between countries. ICPs are designed to improve efficiency and reduce waiting times for goods and people crossing borders.

 

3. Anti-Terror Conference 2024: The Anti-Terror Conference 2024 highlighted the urgent challenges posed by modern terrorism. Union Home Minister Amit Shah stressed the necessity of advanced technology and training to combat these threats. The conference aimed to enhance collaboration among various stakeholders in the fight against terroism Terrorism has evolved into a borderless phenomenon. It operates invisibly, making traditional methods less effective. Governments worldwide face increasing challenges in identifying and countering these threats. The need for a proactive approach is critical. Shah emphasized the role of technology in combating terrorism. Training will focus on using advanced technology effectively. This approach aims to enhance operational capabilities against evolving threats.

 

SCIENCE AND TECHNOLOGY

 

1. Zimbabwe Launches Second Satellite ZIMSAT-2: Zimbabwe successfully launched its second satellite, ZIMSAT-2. This event marks an important advancement in the country’s space programme. The launch took place from the Vostochny Cosmodrome in Russia, following the deployment of Zimbabwe’s first satellite, ZimSat-1, in November 2022. ZIMSAT-2 is a low Earth observation satellite. It was launched aboard the Soyuz-2.1 spacecraft at 1 AM. The launch was a collaborative effort between the Zimbabwe National Geo-Spatial and Space Agency (ZINGSA) and Southwest State University in Russia.

 

BANKING AND FINANCE

 

1. SEBI proposes 30-day deadline for mutual fund deployment of NFO proceeds: In a move aimed at enhancing the timely deployment of funds raised through mutual fund (MF) schemes during new fund offering (NFO) periods, the markets regulator — Securities and Exchange Board (Sebi) proposed a 30-day deadline for fund managers.Currently, there is no stipulated time frame for the deployment of NFO proceeds in line with the specified investment strategy.In a consultation paper, Sebi outlined that this timeline could be extended to 60 days with approval of the fund house’s investment committee, but only under specific conditions, such as “expensive valuation in specific sectors or market capitalisations, market dynamics, uncertainty following geopolitical developments, or unavailability of securities with specific maturity.

 

 

 

Daily GK Update- 5th Nov, 2024

 NATIONAL UPDATES:

 

1. Karnataka celebrates Bali Padyami festival: Karnataka celebrates Bali Padyami festival on the fourth day of Deepavali.It is believed that the Asura king Bali Chakravarty comes out of Pathala loka and visits Bhuloka as per the boon given by Lord Vishnu during Vamana Avatar.After worshipping Ganga matha on the first day, Naraka Chaturdashi on the second and Lakshmi Pooja on the third day of Deepavali, the festival of Bali Padyami derives significance.The day is symbolic of prosperity and welfare representing the then flourishing kingdom of Bali Chakravarty.

 

2. Yamaha Motor India appoints Itaru Otani as Chairman: India Yamaha Motor (IYM) Pvt Ltd. has appointed Itaru Otani as the new chairman of Yamaha Motor India Group.Otani brings over three decades of experience with Yamaha Motor Company, having held key leadership roles across global markets, including Australia, Brazil, and Japan.Prior to this role, Otani served as Chief General Manager, leading the Land Mobility Business Operations based out of Japan.Otani replaced Eishin Chihan.

 

INTERNATIONAL UPDATES:

 

1. First Asian Buddhist Summit to be held in New Delhi: India will host the first Asian Buddhist Summit in the national capital New Delhi from 5 to 6 November.The summit is being organised by the Central government’s Ministry of Culture in collaboration with the International Buddhist Confederation (IBC).The theme of this summit is on ‘Role of Buddha Dhamma in Strengthening Asia’.Buddhism holds a unique position in the spiritual and cultural history of India and pan Asia, and the teachings of the Buddha, his disciples and preachers has kept Asia united through a common outlook towards life, divinity, and social values.

 

2. 352nd Governing Body meeting of ILO is underway in Geneva: The 352nd Governing Body meeting of the International Labour Organisation (ILO) was held in Geneva.During the meeting Labour and Employment Secretary Sumita Dawra highlighted India’s commitment to improving living standards reflected in significant initiatives covering all dimensions of poverty that have led to 248 million individuals escaping multidimensional poverty in the last nine years as measured by the multidimensional poverty index.She also stated the employment growth within the country adding around 170 million persons in economic activity during 2016-17 and 2022-23 as per provisional estimates.

 

3. ADB launches action plan to boost disaster resilience in Asia and Pacific: The Asian Development Bank (ADB) has announced a new action plan to enhance its disaster resilience efforts in Asia and the Pacific region.The Disaster Risk Management Action Plan 2024-2030 outlines ADB’s commitment to supporting its developing members in mitigating the impacts of disasters and climate change.The action plan promises to guide the integration of disaster risk management components into ADB’s operations, project design, and funding decisions.In August, the United Nations Office for Disaster Risk Reduction warned that disasters in the Asia-Pacific region were projected to increase by 40 per cent by 2030.

 

4. 5 November – World Tsunami Awareness Day: World Tsunami Awareness Day is observed globally each year on November 5.Objective – sTo increase awareness about the dangers of tsunamis and encourage proactive preparedness in the event of such natural disasters.Theme 2024 – Fighting Inequality for a Resilient Future Established by the United Nations General Assembly in 2015, the day underscores the importance of early warning systems and community education to reduce the catastrophic effects of tsunamis.

 

OTHER UPDATES:

DEFENCE

 

1. Navy Chief Dinesh Tripathi launches ‘Swavlamban 2024’ exhibition: Navy Chief Admiral Dinesh Kumar Tripathi has inaugurated the ‘Swavlamban 2024’ exhibition at Bharat Mandapam.The event aims to showcase innovations from the country’s young entrepreneurs and strengthen collaborations between the Indian Navy and various industry stakeholders.He expressed enthusiasm for the innovative solutions showcased by the nation’s youth and noted the participation of around 115 stalls from diverse agencies, including the Indian Air Force, Indian Army, Indian Coast Guard, and the Border Security Force (BSF).Launched in 2022, the initiative aims to collaborate with Micro, Small, and Medium Enterprises (MSMEs) and the Indian industry to address operational needs and bridge capability gaps within the Navy.

 

SPORTS 

 

1. Anish Sarkar becomes Youngest-Rated FIDE Chess Player Globally: Anish Sarkar of Kolkata, West Bengal, has become the youngest-rated FIDE chess player in the world. At the age of three years, eight months, and 19 days, Anish secured a FIDE rating of 1555.The International Chess Federation, known by its French acronym FIDE, is the world’s governing body for chess. It assigns ratings or points based on players’ performance in FIDE-approved chess tournaments.Anish Sarkar, born on January 26, 2021, played his first tournament, the West Bengal State Under-9 Open, in October 2024. He next played in the West Bengal State Under 13 Open chess tournament, where several FIDE-rated players participated.According to the FIDE rule, a player is given rating points if the player plays against at least five FIDE-rated players. Thus, after participating in the West Bengal State Under 13 Open chess tournament, Anish Sarkar was given an initial FIDE rating of 1555.

 

2. Wriddhiman Saha announces retirement from cricket: Indian wicketkeeper-batter Wriddhiman Saha has announced his retirement from cricket, the ongoing Ranji Trophy season will be his last final one.The 40-year-old Bengal wicketkeeper has appeared in 40 Tests and nine ODIs since his international debut in 2010.

 

3. India’s Atanu Das bags Bronze Medal in Swiss Open Indoor Archery: India’s Atanu Das has bagged a Bronze medal in the Swiss Open Indoor Archery in Lausanne, Switzerland. Olympian Atanu Das defeated Switzerland’s Thomas Rufer 6-4 in the Recurve Men’s Bronze medal match.

Earlier in the Semifinals, Atanu faced a defeat against Romain Fichet of France 4-6. Romain clinched the silver while Italy’s Alessandro Paoli clinched the gold.The 2025 Indoor Archery World Series kicked off, featuring over 300 archers from 31 countries.The Swiss Open includes both recurve and compound divisions. There will be six events held during the 2025 season 1, starting in November 2024 and ending in March 2025.

 

SCIENCE AND TECHNOLOGY

 

1. Japan set to test world’s first wooden satellite: Scientists in Japan are set to test the world’s first wooden satellite “LignoSat”. The LignoSat was developed by a team from Kyoto University and homebuilder Sumitomo Forestry.It will be launched next week atop a SpaceX rocket, bound for the International Space Station.LignoSat – named after the Latin word for wood – will be released from the space station in the coming weeks. It will orbit for six months, testing how well the material can withstand the extreme environment.Forest science professor Koji Murata says wood can actually perform well in space, as there’s nothing there to make it rot or catch fire.The wood used for this satellite comes from a type of magnolia tree – Japanese honoki. Traditionally, it is easy to process and resistant to shattering, which is why it is typically used for things like the scabbards of Japanese swords and the blades of Japanese wooden sandals due to its strength.

 

2. ISRO Starts India’s First Analog Space Mission to Plan Lunar Mission experiments: Indian Space Research Organisation (ISRO) has started the country’s first analog space mission at Leh in Ladakh, where space agency will simulate life in an interplanetary habitat.The move assumes significance as India is planning to send a human to the Moon in the near future.Analog space missions are field tests in locations on Earth that have physical similarities to the extreme space environments and play a significant role in problem solving for spaceflight research.Ladakh has been chosen for such a mission as the geographical features of the area – dry and cold climate, barren land, high-altitude terrain and extreme isolation – are considered to closely resemble Martian and lunar landscapes.

 

BANKING AND FINANCE

 

1. NSE launches mobile app & websites in 8 additional languages: The National Stock Exchange has launched a mobile app as well as websites in eight additional languages to commemorate 30 years of operations.Trading in the equities market commenced on the NSE on 3rd November 1994.MD and CEO of NSE, Ashishkumar Chauhan, announced that these languages include Assamese, Bengali, Kannada, Malayalam, Odia, Punjabi, Tamil, and Telugu, bringing the total number of languages supported by the NSE to twelve.The NSE also held its traditional muhurat trading on the occasion of Lakshmi Poojan.

 

2. SBI MF becomes first to surpass ₹10 lakh crore AUM, outpacing ICICI and HDFC: SBI Mutual Fund, the country’s largest asset management company (AMC), has achieved a record average asset under management (AAUM) of ₹10.99 lakh crore in the September quarter (Q2 FY25), according to data from the Association of Mutual Funds in India (AMFI).The fund house concluded FY24 with an AAUM of ₹9.14 lakh crore. Notably, in June 2024, SBI Mutual Fund became the first mutual fund house to surpass the ₹10 lakh crore mark in AAUM. Over the period from FY19 to FY24, its AAUM recorded a compound annual growth rate (CAGR) of approximately 26%.This growth can be attributed to a steady increase in the Systematic Investment Plan (SIP) book. As of June 3, 2024, SBI Mutual Fund had assets that were 30% and 45% higher than those of its nearest competitors, ICICI Mutual Fund and HDFC Mutual Fund, which had AAUMs of ₹8.41 lakh crore and ₹7.59 lakh crore, respectively.

 

3. Punjab & Sind Bank launches e-bank guarantee facility: Punjab & Sind Bank (PSB), a public sector bank, has launched e-Bank Guarantee (e-BG) facility in partnership with National e-Governance Services Ltd (NeSL).This new facility replaces paper-based BG issuance process with stamping and signatures.With the secured transmission and enhanced transparency, beneficiaries will save efforts and time in the verification of physical BGs.It is a landmark step towards enhancing the ease of business for applicants and beneficiaries, it will not only reduce the TAT (turnaround time) but also be a game changer to curb the frauds and inconvenience caused on the physical movement of documents.