Daily GK Update- 14th Nov, 2024

 NATIONAL UPDATES:

 

1. Arvinder Singh Sahney appoints as new Chairman of Indian Oil: Arvinder Singh Sahney has been appointed as Chairman of Indian Oil Corporation. Prior to the appointment, he was petrochemical vertical head of the national oil marketing company. Sahney has over three decades of expertise in the refinery and petrochemical sector. He takes over from director (marketing) V.Satish Kumar, who was holding additional charge as Chairman after the completion of tenure of S.M. Vaidya.

 

2. 12 November – Public Service Broadcasting Day: Public Service Broadcasting Day is observed every year on 12 November. The day is celebrated every year to commemorate the only visit of Mahatma Gandhi to the studio of Akashvani in Delhi in 1947. The Father of the Nation addressed the displaced people, who had temporarily settled at Kurukshetra in Haryana after partition.

 

3. New Guidelines for Coaching Sector Advertisements: The guidelines aim to protect consumer rights. They seek to prevent misleading advertisements in the coaching sector. The CCPA intends to ensure that students receive accurate information before making educational decisions. Coaching refers to academic support, guidance, and tuition. It excludes counseling and creative activities. Coaching Centre is defined as any establishment offering coaching to over 50 students. Endorser refers to public figures promoting coaching services. Institutes cannot use students’ names or images in promotions without written consent. Consent must be obtained only after a student achieves success. This reduces pressure on students during the enrolment process.

 

INTERNATIONAL UPDATES:

 

1. World’s first high-altitude para sports centre to come up in Leh: The world’s first high-altitude para sports centre will be established in Leh, Ladakh, aiming to advance the skills and confidence of athletes ahead of the 2028 Paralympics.A Memorandum and Understanding (MoU) to this effect was signed by the Ladakh Autonomous Hill Development Council (LAHDC), Leh, and the Aditya Mehta Foundation (AMF).Indian para-athletes have won 29 medals, including seven gold, in the 2024 Paralympics in Paris and it is a testament to the talent we have in our country.

 

2. 8th South and South-West Asia Subregional Forum: India is making important strides in promoting decent work and economic growth. Recent discussions at the Eighth South and South-West Asia Subregional Forum on SDGs brought into light the country’s commitment to inclusive economic development. This forum was co-hosted by NITI Aayog and UN ESCAP. The Secretary of the Ministry of Labour and Employment, Ms. Sumita Dawra, chaired the session, emphasizing key initiatives and progress. India’s GDP growth is projected at 7% for FY 2024-25. This growth is attributed to effective poverty alleviation programs. Approximately 250 million people have moved out of multidimensional poverty in recent years. The government’s focus on inclusive growth is yielding positive results.

 

3. U.S.-India Dialogue on Indian Ocean Cooperation: India and the United States are enhancing their collaboration in the Indian Ocean Region. The inaugural U.S.-India Indian Ocean Dialogue is scheduled for November 14, 2024. Key officials will participate virtually due to travel issues. This dialogue aims to strengthen security and prosperity in the Indo-Pacific region. U.S. Deputy Secretary of State Kurt Campbell and Principal Deputy National Security Advisor Jon Finer will represent the U.S. They will engage virtually with their Indian counterparts. This change was necessitated by unforeseen flight issues.

 

OTHER UPDATES:

DEFENCE

 

1. DRDO successfully conducts maiden flight test of long-range land attack cruise missile: The Defence Research and Development Organisation (DRDO) has successfully conducted the maiden flight-test of the Long-Range Land Attack Cruise Missile (LRLACM) from the Integrated Test Range (ITR) in Chandipur, off the coast of Odisha.The test was carried out using a mobile articulated launcher, and the missile performed as expected, meeting all primary mission objectives.During the flight, the missile’s performance was carefully monitored through a range of sensors, including radar, electro-optical tracking systems, and telemetry equipment deployed at various locations along the missile’s flight path.Equipped with advanced avionics and software, LRLACM is designed to ensure greater reliability and enhanced operational performance.

 

2. India ships first batch of Akash Weapon system to Armenia: In a significant milestone for the indigenous Indian defence sector, the first batch of the indigenously developed surface-to-air missile system Akash, was shipped to Armenia.The indigenously developed and manufactured Akash system is part of a deal under which India is to supply 15 Akash systems to Armenia.This is the second missile system to be exported from India after India sold the supersonic Brahmos cruise missile to the Philippines.With a record defence export of Rs 21,083 crore in 2023-24, the government has set a defence export target of Rs 35,000 crore for 2024-25. The United States of America has emerged as the largest buyer of the Indian weapon system, followed by France.

 

3. Indian Navy all set to host 4th Sea Vigil Exercise 2024: The Indian Navy will host the 4th Sea Vigil Exercises on 20 and 21 November 2024. The biennial Sea Vigil is a national-level coastal defence exercise that involves various other stakeholders responsible for India’s coastal and maritime security.The third edition of the Sea Vigil was held in November 2022 and conducted under the overall leadership of the Indian Navy. The Sea Vigil exercise led by the Indian Navy was started in 2018, and it is held every two years. The Sea Vigil exercise is a precursor to the Indian Navy’s own ‘Theatre Level Readiness Operational Exercise (TROPEX)’, conducted every two years.The Sea Vigil exercise was conceptualised in India after the Mumbai terror attack of 2008 when Pakistani terrorists used the sea routes to attack Mumbai.Regular exercises are conducted in the coastal states by the Indian Coast Guard under the code name Sagar Kavach to assess the coastal security in a particular coastal region of the country.

 

4. 35th Triservices Commanders’ Conference (TSTCC) 2024: The 35th Triservices Commanders’ Conference (TSTCC) took place on 13 November 2024. It was chaired by Chief of Defence Staff, Gen Anil Chauhan, at the Southern Naval Command in Kochi. Commanders from all three services attended the event. The focus was on enhancing joint training and operational effectiveness. Gen Chauhan emphasized the need for jointmanship among the three services. He stated that synergy is crucial in the training domain. This is essential for achieving supremacy in multi-domain battles. Training must adapt to evolving security challenges. Integrated operations are necessary for future warfare.

 

SPORTS 

 

1. Kerr and Noman win ICC Player of the Month awards for October: The International Cricket Council (ICC) has announced the ICC Players of the Month for October 2024 as New Zealand’s Amelia Kerr and Pakistan’s Noman Ali.All-rounder Kerr was instrumental in her side’s surge to victory at the ICC Women’s T20 World Cup in the UAE last month, while Noman was equally pivotal to his side’s comeback Test series win over England on home soil.In men’s cricket, Noman Ali clinched the ICC Men’s Player of the Month title for his stellar performances in Pakistan’s Test series against England. His bowling was instrumental in Pakistan’s comeback victory at home, turning the series around from a 1-0 deficit to a memorable series win.

 

2. Mumbai wins its second Senior Women’s T20 Trophy: Humaira Kazi led her Mumbai team to their second Senior Women’s T20 trophy title by beating Bengal in the final by 10 wickets. The final of the 16th Senior Women’s T20 trophy was played at the Wankhede Stadium, Mumbai, Maharastra.Mumbai, which won the Senior Women’s T20 trophy for the first time last year, joined Railway as the only team that successfully defended its title.The Senior Women’s T-20 Trophy is organised by the BCCI (Board of Control for Cricket in India) and was first held in 2008-09.With 11 title wins, Railway is the most successful team in the tournament. Delhi won the title in 2017-18, Punjab in 2018-19, and Mumbai in 2023 and 2024.Player of the match -Jagravi Pawar of Mumbai Player of the Series – Humairaa Kaazi

 

AWARDS AND HONOURS

 

1. GM Aravindh Chithambaram wins Chennai Grand Masters 2024: In Chess, GM Aravindh Chithambaram clinched the Chennai Grand Masters title after an intense final against American GM Levon Aronian. Meanwhile, GM V Pranav remained unbeaten throughout the tournament to claim the Challengers title. With the Masters category witnessing a three-way tie for the top spot, Aravindh defeated GM Levon Aronian in the first blitz play-off and then held his nerve to draw the second blitz match with black pieces to clinch the second edition of the competition. Organised by MGD1 and sponsored by the Sports Development Authority of Tamil Nadu, the Chennai Grand Masters 2024 features two categories- Masters & Challengers.

 

 

Daily GK Update- 13th Nov, 2024

 NATIONAL UPDATES:

 

1. Central govt approves fire services projects worth Rs 725 cr for 3 states: A high-level committee, headed by Union Home Minister Amit Shah, has approved three projects worth Rs 725.62 crore for the expansion and modernisation of fire services in Chhattisgarh, Odisha and West Bengal. The committee has approved Rs 376.76 crore for West Bengal, Rs 201.10 crore for Odisha and Rs 147.76 crore for Chhattisgarh under the ‘Expansion and Modernisation of Fire Services’ in the states. The high-level committee comprised of Finance Minister Nirmala Sitharaman, Agriculture Minister Shivraj Singh Chouhan and Vice Chairman NITI Aayog Suman K Bery as members. The central government has allocated a total of Rs 5,000 crore under the National Disaster Response Fund (NDRF) for ‘Expansion and Modernisation of Fire Services’ in the states.

 

2. India’s first ever tri-service space exercise Antariksha Abhyas begins in Delhi: In a first, the tri-service exercise ‘Antariksha Abhyas 2024’, a three-day exercise aiming to secure India’s national strategic objectives in space, begins in Delhi.The exercise is being conducted by the Defence Space Agency of Headquarters Integrated Defence Staff.The exercise is expected to help secure national strategic objectives in space and integrate India’s space capability into military operations.The Space Exercise aims to provide enhanced understanding of space-based assets and services and to gain understanding of operational dependency on the space segment between stakeholders.Specialist branches under Headquarters Integrated Defence Staff viz Defence Cyber Agency, Defence Intelligence Agency and Strategic Forces Command would also be active participants in the exercise. Representatives from the Isro and the DRDO will also take part in this exercise.

 

3. Tata Power, Noida International Airport sign Rs 550 crore deal for renewable energy: Tata Power will invest Rs 550 crore to develop solar and wind power capacities and related infrastructure to supply clean energy to Noida International Airport.Tata Power entered into a partnership with Noida International Airport (NIA) to supply renewable energy to the upcoming airport in Jewar in Uttar Pradesh’s Gautam Buddha Nagar district.Tata Power Trading Company Limited (TPTCL) will be at the forefront of this partnership, managing the complete renewable energy portfolio interface and ensuring NIA’s clean energy needs are met through a comprehensive Power Purchase Agreement (PPA).Under the deal, Tata Power Trading Company Ltd. will supply 10.8 MW of wind power to NIA, with secured assets from Tata Power Renewable Energy Ltd. (TPREL). In addition, TPREL will develop, operate, and maintain a 13 MW onsite solar power capacity.

 

4. Amazon launches facility in Bengaluru to train school students in tech: Amazon India has launched a facility in Bengaluru that will provide “underserved” school students free, hands-on learning in robotics, computing, artificial intelligence (AI) and 3D printing.For beginners, there are three- to four-hour programmes to learn basic robotics and coding.Six-hour programmes will over two days “dive deeper” into advanced robotics, programming, prototyping and design. For the most advanced students, there are multi-month programmes. Makerspace has areas where students can build and test their robot.Students can book online sessions that will have groups of up to 40 participants.Makerspace has 3D printers, lathes, power tools, electronics equipment and kits for international competitions. Mentors and Amazon volunteers will help students develop skills in coding, problem-solving and design.

 

5. Ministry of Textiles approves 12 research projects worth INR 13 Crores under the National Technical Textiles Mission: The 10th Mission Steering Group under the chairmanship of Union Minister of Textiles has approved 12 research projects of value INR 13.3 Cr. under the National Technical Textiles Mission.The research projects were approved across key strategic areas of geotextiles, sustainable and smart textiles, composites, etc.The approved projects were proposed by eminent research bodies and institutions including IITs, NITs, CRRI, etc. The total number of approved research projects under the Mission now stands at 168 with a total value of approx. INR 509 Cr.National Technical Textiles Mission is a flagship scheme of Ministry of Textiles focused on developing the research and development capabilities of the local industry, especially in the areas of high performance fibre development.

 

6. Jyotiraditya Scindia inaugurates SATRC-25 in New Delhi: The 25th Meeting of SATRC-25 (South Asian Telecommunication Regulators’ Council) was inaugurated by the Union Minister for Communications Jyotiraditya Scindia.The meeting is held annually to discuss and coordinate regulatory and other issues related to the telecommunication and Information and Communication Technology (ICT) sectors common for the regulators of SATRC Members.The 25th Meeting of the SATRC has been organised by the Asia-Pacific Telecommunity. It is being hosted by the Telecom Regulatory Authority of India (TRAI) in New Delhi.The Telecom sector regulators of 9 countries -Afghanistan, Bangladesh, Bhutan, India, Iran, Maldives, Nepal, Pakistan, and Sri Lanka are attending the 25th meeting of the South Asian Telecommunication Regulators’ Council.

 

INTERNATIONAL UPDATES:

 

1. Govt extends tenure of Foreign Secretary Vikram Misri till 2026: The government has extended the tenure of foreign secretary Vikram Misri till 14th July 2026. The Appointments Committee of the Cabinet has approved the extension.Misri assumed the charge as Foreign Secretary on 15th July this year.A career diplomat from the 1989 batch of the Indian Foreign Service, Ambassador Misri has served in various capacities at the Ministry of External Affairs, in the Prime Minister’s Office and in various Indian Missions abroad in Europe, Africa, Asia and North America.

 

2. Navin Ramgoolam elected as the PM of Mauritius: Navin Ramgoolam has been elected as the Prime Minister of Mauritius.Prime Minister of Mauritius Pravind Jugnauth has reportedly accepted that his coalition, L’Alliance Lepep, has suffered a “huge defeat” following Sunday’s parliamentary election.Navin Ramgoolam, 77, leader of the Alliance of Change coalition, is set to become the next leader of the Indian Ocean archipelago.

 

3. 13 November – World Kindness Day: World Kindness Day is commemorated annually on November 13 and aims to promote several acts that inspire compassion, empathy, and goodwill around the world.This day urges people around the world to perform acts of kindness whether great or small, to help create a more peaceful world.World Kindness Day is a relatively new commemoration which began in 1998 following the formation of the World Kindness Movement (WKM). The World Kindness Movement (WKM) is a worldwide non-governmental organisation with no political or religious affiliation.

 

OTHER UPDATES:

 

SCIENCE AND TECHNOLOGY

 

1. IIT Madras partners with ISRO to establish Research Centre to study Spacecraft & launch vehicle Thermal Management: Indian Institute of Technology Madras (IIT Madras) has collaborated with Indian Space Research Organisation (ISRO) to establish a Centre of Excellence for research in ‘Fluid and Thermal Sciences’.The ISRO would be providing a seed funding of ₹1.84 crore towards establishing this centre.This centre will act as a nodal centre for spacecraft and launch vehicle-related thermal management research activities of ISRO. Thermal problems regarding design, analysis and testing of various components could be performed by leveraging the expertise of IIT Madras faculty.The projects under the MoU will cover critical areas, including spacecraft thermal management, combustion instability in hybrid rockets, and cryo-tank thermodynamics. The Centre will enhance collaboration between ISRO scientists and IIT Madras faculty, fostering innovation in fluid and thermal sciences.

 

BANKING AND FINANCE

 

1. Retail inflation at a 14-month high, rises to 6.21% in October: The Consumer Price Index (CPI) based inflation reached a 14-month high of 6.21 percent in October, up from 5.49 percent in August, indicating persistent price pressures across sectors, according to the data of Ministry of Statistics and Programme Implementation (MoSPI).In comparison, retail inflation stood at 3.65% in August 2024 and 3.54% in July 2024.Inflation in October climbed above the Reserve Bank of India’s (RBI) 6% tolerance threshold, marking the first breach of this level in 14 months since August 2023. The Reserve Bank of India (RBI) aims to keep inflation within a range of 2-6 percent, with a medium-term target of 4 percent.The data shows higher inflation in rural areas at 6.68 percent compared to 5.62 percent in urban regions.The Consumer Food Price Index (CFPI) recorded a significant year-on-year (Y-o-Y) inflation rate of 10.87 percent, driven largely by rising prices of vegetables, fruits, oils and fats. In September, food inflation stood at 9.24 percent.

2. PSBs show strong performance in the First Half of FY 2024-25 with 11% Y-o-Y growth: The Union Finance Ministry said that aggregate business of public sector banks (PSBs) has shown strong growth of 11 per cent in the first half of the financial year 2024-25 (H1FY25) to touch Rs 236 trillion. The operating and net profit were also robust.At Rs 1.5 trillion, operating profit grew by 14.4 per cent year-on-year (Y-o-Y) while the net profit saw an impressive 25.6 per cent jump at Rs 85,520 crore in the first half of FY25.The global credit and deposit portfolio of PSBs grew by 12.9 per cent and 9.5 per cent Y-o-Y to Rs 102.29 trillion and Rs 133.75 trillion respectively.The Gross and Net NPA stood at 3.12% and 0.63% as on Sep-24 (Gross and Net NPA declined by 108 bps and 34 bps respectively YoY).The Capital to RWA assets ratio (CRAR) stood at 15.43% in Sep-24 against the regulatory requirement of 11.5%.

 

3. ICICI Prudential Multi-Asset Fund turns Rs 10 lakh into Rs 7.5 cr in 22 yrs: ICICI Prudential Multi-Asset Fund, one of India’s largest and most successful multi-asset allocation funds, has achieved a remarkable milestone—completing 22 years of robust performance. With a closing Asset Under Management (AUM) of Rs 50,495.58 crores as of September 30, 2024.The fund now holds a dominant share of 48.29% in the multi-asset allocation category, solidifying its position as a preferred choice for investors seeking diversified, long-term growth.An initial lump sum investment of Rs 10 lakh made at the fund’s inception would have grown to approximately Rs 7.26 crore by September 30, 2024, reflecting a Compounded Annual Growth Rate (CAGR) of 21.58%. In comparison, a similar investment in the fund’s benchmark—composed of Nifty 200 TRI (65%), Nifty Composite Debt Index (25%), Domestic Price of Gold (6%), Domestic Price of Silver (1%), and iCOMDEX Composite Index (3%)—would have amounted to around Rs 3.36 crore, yielding a CAGR of 17.39%.

 

AWARDS AND HONOURS

 

1. Australian filmmaker Phillip Noyce to receive Satyajit Ray Lifetime Achievement Award at IFFI 2024: Veteran Australian filmmaker Phillip Noyce, known for his work on Clear and Present Danger, Salt, and Rabbit-Proof Fence, will receive the Satyajit Ray Lifetime Achievement Award at the 55th International Film Festival of India (IFFI).The festival, which will be held in Goa from November 20-28, 2024, has Australia as its Country of Focus this year.The festival will open with the Asian premiere of Better Man, a biographical film about British pop star Robbie Williams, directed by Michael Gracey.IFFI will also feature six new theatres and introduce “IFFiesta,” an entertainment zone along Goa’s riverfront.Theme of 55th International Film Festival of India (IFFI) – Young Filmmakers – The Future is Now

 

Daily GK Update- 12th Nov, 2024

 NATIONAL UPDATES:

 

1. Hindalco ranked world’s most sustainable aluminium company: Hindalco Industries Limited, the metals flagship of the Aditya Birla Group, has been ranked the world’s most sustainable aluminium company for the fifth consecutive year.In the 2024 edition of the S&P Global Corporate Sustainability Assessment (CSA) rankings, Hindalco was the only aluminium company to secure the top position. It got a total score of 87 points (as of 30 October 2024), improving its tally by 9 points from 2023. It was 22 points ahead of its closest peer.The DJSI World Index comprises the top 10 per cent of the largest 2,500 companies by market capitalisation in the S&P Global Broad Market Index based on long-term economic and ESG factors.MD of Hindalco Industries Ltd – Satish Pai

 

2. India signs agreement to establish BIMSTEC Energy Centre in Bengaluru: s Jaideep Mazumder and BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Secretary General Indramani Pandey signed an agreement to establish the BIMSTEC Energy Centre in Karnataka’s Bengaluru.The agreement aims to strengthen inter-grid connectivity across the region.The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization that was established on June 6, 1997 with the signing of the Bangkok Declaration.

 

3. 11 November – National Education Day: National Education Day is celebrated on November 11 every year in honor of Maulana Abul Kalam Azad, the first Education Minister of India and a prominent educationist.During Azad’s tenure as the education minister of India, the country got statutory bodies like the All India Council for Technical Education (AICTE), the University Grants Commission (UGC) and the Indian Institute of Technology (IIT) Kharagpur, the first IIT in the country. He also played a key role in the establishment of Jamia Millia Islamia (JMI).Theme 2024 – Learning for Lasting Peace Maulana Abul Kalam Azad was born Abul Kalam Ghulam Muhiyuddin on November 11th 1888 in Mecca, Saudi Arabia. His father, Maulana Khairuddin, was a renowned Islamic scholar.Azad was inspired by the modernist writings of Indian philosopher and educationist Sir Syed Ahmed Khan.

 

INTERNATIONAL UPDATES:

 

1. IGNCA host the 8th International Ancient Arts Festival and Symposium: The 8th International Ancient Arts Festival and Symposium was held in New Delhi at the Indira Gandhi National Centers for Arts (IGNCA).The International Ancient Arts Festival and Symposium is country’s only multi-arts event of its kind, which tries to educate the people in the ancient Indian art form along with entertaining them with performances.At the inaugural session of the 8th International Ancient Arts Festival and Symposium Dr. Reela Hota and her troupe presented ‘Antar Yatra’. This dance drama incorporates Odissi, Chhau, and contemporary ballet to symbolise the ascension of consciousness from the base (Mooladhara) to the crown (Sahasrara) chakra.On the festival’s final day, a Kuchipudi dance performance was given by renowned Kuchipudi exponent Yamini Reddy and her group.

 

2. Liberal Democratic Party’s Shigeru Ishiba re-elected as Japan’s PM: In Japan, the Leader of the Liberal Democratic Party (LDP) Shigeru Ishiba was re-elected as the country’s Prime Minister after securing the most votes in both houses of the Japanese Diet.The Japanese Parliament, known as the Diet, convened an extraordinary session to elect the Prime Minister.Following the loss of its long-held majority in last month’s general election, the ruling coalition of the LDP and Komeito faced a runoff vote between Prime Minister Ishiba and the leader of the major opposition Constitutional Democratic Party, Yoshihiko Noda.In the runoff voting in the House of Representatives, 67-year-old Ishiba received 221 votes, outperforming Noda to become the country’s 103rd Prime Minister despite falling short of the 233 majority threshold.

 

3. 12 November – World Pneumonia Day: Every year, the world observes World Pneumonia Day on 12 November,s which is dedicated to raising awareness about pneumonia.This disease is life-threatening but a preventable and treatable respiratory illness.This day focuses on pneumonia impact, especially among children under five and the elderly who are most vulnerable.Theme 2024 – Every Breath Counts: Stop Pneumonia in Its Track.World Pneumonia Day was established in 2009 by the Global Coalition against Child Pneumonia, which included organizations like UNICEF, WHO, and Save the Children.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Navy’s submarine INS Vela arrives in Colombo for Operational Turnaround: Indian Navy’s submarine INS Vela, arrived in Colombo on a three-day visit. The submarine was accorded a ceremonial welcome by the Sri Lanka Navy.Several team-building exercises are planned between the crew of the submarine and Sri Lankan navy personnel during the visit.INS Vela, an indigenous Kalvari-class diesel-electric submarine, was commissioned into the Indian Navy in November 2021.This visit is categorized as an Operational Turnaround (OTA), during which the submarine will replenish its provisions before departing Colombo.These visits reflect India’s ‘Neighbourhood First’ policy and Prime Minister Narendra Modi’s vision of the ‘SAGAR’ (Security and Growth for All in the Region) initiative, which seeks to enhance maritime security and regional connectivity.

 

SPORTS 

 

1. Aryna Sabalenka ends 2024 as World number one in Women’s Tennis: 26-year-old Aryna Sabalenka of Belarus was confirmed as the World No. 1 women’s tennis player for 2024 by the Women’s Tennis Association (WTA). Her spot as world no.1 was confirmed when Iga Swiatek of Poland lost her match against Coco Gauff in the WTA Finals at Riyadh.The WTA Finals was eventually won by Coco Gauff of the United States. This is the first time Aryna Sabalenka has been confirmed as the year-end world number one in women’s tennis.Aryna Sabalenka had a very good 2024 season, where she won two grand slam singles titles and two WTA 1000 tournament titles.She won the 2024 Australian Open singles title and the 2024 US Open singles title. She also won the WTA 1000 – Cincinnati Open and the Wuhan Open.

 

2. Jannik Sinner ends 2024 as World number one in Men’s Tennis: Jannik Sinner ended the 2024 season as world number 1 ranked male tennis player. Jannik Sinner, for the first time, was ranked as the No. 1 singles player on 10 June 2024 by the Association of the Tennis Professionals (ATP).

He is the first Italian male tennis player to be ranked world no. 1 in singles since the computerized ATP ranking system was introduced in 1973.In 2024, Jannik won the Australian Open and the US Open singles title in 2024.

 

3. Anahat Singh wins her Seventh PSA Challenger Title: The Indian Squash sensation Anahat Singh won her seventh PSA (Professional Squash Association) Challenger Title by winning the singles title of the 2024 NSW Open Squash Tournament.In the final of the 2024 NSW Open Squash tournament, she defeated Helen Tang of Hong Kong China 3-1 (8-11, 11-6, 11-3, 11-4).Last week, Anahat Singh won the singles title of the 2024 Costa North Coast Open Squash Tournament.The 2024 NSW Open Squash Tournament was held in Sydney, Australia.

 

4. Neeraj Chopra appoints Jan Zelezny as his Coach: Tokyo Olympics gold medallist Neeraj Chopra has appointed javelin throw legend Jan Zelezny as his new coach ahead of the 2025 season.The former Czech athlete is a World and Olympic champion. He is also the world record holder with a throw of 98.48m.Zelezny will join Neeraj in South Africa for a 31-day training camp, starting later this month. Neeraj will train with Zelezny for the next two years and not the entire Olympic cycle.Jan Zelezny considered the greatest javelin thrower of the modern era, won gold medals at the 1992 Barcelona, 1996 Atlanta, and 2000 Sydney Summer Olympics.

 

BANKING AND FINANCE

 

1. RBI, SEBI unveil rules for converting excess investment by FPIs into FDI: Financial regulators, the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), issued new guidelines directing foreign portfolio investors (FPIs) to secure government approval and concurrence from investee companies if they acquire equity stakes that exceed prescribed limits.

The regulators introduced an operational framework for reclassification of FPI investments to foreign direct investments (FDI) should holdings surpass the stipulated thresholds. This framework outlines steps to follow if such a breach occurs.Under the Foreign Exchange Management Act (FEMA), FPIs are allowed to hold up to 10 per cent of a company’s total paid-up equity capital. Any FPI breaching this limit now has the option to divest holdings or reclassify such holdings as FDI, subject to several conditions. The new rules provide a window of five days from the settlement of trades to do the same.

 

2. Shriram Mutual Fund launches industry-first multi-sector rotation fund: Shriram Mutual Fund (MF) has launched an industry-first multi-sector rotation fund, which will take concentrated sectoral bets through a quantamental approach. The scheme will invest in 3-6 sectors that are likely to outperform in the near-to-long termThe fund will move in and out of sectors based on their relative momentum and other factors. The sectors will be selected based on Shriram AMC’s proprietary Enhanced Quantamental Investment (EQI) framework. These sectors will then be vetted based on fundamentals, including macroeconomic parameters, investment indicators, sentiment, prices, etc., before final sector selection.The fund will be market-cap agnostic, with the share of largecap, midcap, and smallcap stocks in the portfolio depending on the size of companies operational in the selected sectors.

 

Daily GK Update- 11th Nov, 2024

 NATIONAL UPDATES:

 

1. Nitin Gadkari inaugurates 83rd Indian Roads Congress at Raipur: Union Minister for Road Transport and Highways, Nitin Gadkari, has inaugurated the 83rd session of the Indian Roads Congress at Raipur, Chhatisgarh.The 83rd session of the Indian Road Congress has been organised by the apex body of Indian highway engineers.The main aim of the Indian Road Congress is to formulate Standards, Codes, Specifications, and Manuals related to roads, bridges, and road transport for adoption by central government road agencies to construct and maintain sustainable road infrastructure for the country’s overall development.Based on the recommendation of the Jayakar Committee on Indian Road Development, the Indian Road Congress was constituted in 1934. The Indian Road Congress is the apex body of Highway engineers in the country, with its headquarters in New Delhi.

 

2. AMU case: SC overrules 1967 order denying minority status: The Supreme Court of India ruled that Aligarh Muslim University (AMU) overruled the 1967 verdict, noting that the university may be entitled to minority status under Article 30 of the Constitution of India. However, the court has transferred the case to a regular bench.Chief Justice of India, Justice D Y Chadrachud led 7-member constitutional bench of the Supreme Court (4 in favour and three against) overturned the previous 5-judge constitutional bench judgement in the Azeez Basha vs Union Of India 1967 case on the ‘minority status’ of the Aligarh Muslim University (AMU).In the Azeez Basha vs. Union of India case, the Supreme Court declared that AMU was not a minority educational institution as it was established through an act of legislature. The court opined that an institution established by an act of legislature cannot claim to be a minority institution.

 

3. Nirmala Sitharaman launches National MSME Cluster Outreach Programme: Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman launched the National MSME Cluster Outreach Programme, organised jointly by the Department of Financial Services (DFS), Ministry of Finance, Government of India, and Small Industries Development Bank of India (SIDBI).Around 150 MSME Clusters were connected virtually for the launch with senior bank officials being present in each of these Clusters. The programme aims to ensure access to Financial Services and promote the growth of Micro, Small and Medium Enterprises (MSMEs) across the country.The Union Finance Minister also virtually inaugurated six new SIDBI Branches in Karnataka, located at Tumakuru, Raichur, Shivamogga, Kalaburagi, Mangaluru and Vijayapura, thereby expanding SIDBI’s reach and financial assistance to MSMEs in these Clusters.

 

4. Emami MD Agarwal to take over as new FICCI president: Emami Limited Vice Chairman and Managing Director Harsha Vardhan Agarwal has been elected as the FICCI president for 2024-25.

Agarwal is currently serving as the Senior Vice President of FICCI.He will succeed Mahindra & Mahindra’s Group CEO and Managing Director Anish Shah as the new president at the conclusion of the 97th Annual General Meeting of Ficci, which will be held on November 21.

 

5. Justice Sanjiv Khanna takes oath as 51st Chief Justice of India: Justice Sanjiv Khanna takes oath as the 51st Chief Justice of India in Rashtrapati Bhavan. He was following the retirement of his predecessor, Justice DY Chandrachud.Justice Khanna’s name was recommended by Justice Chandrachud, who retired from the post on November 10 at the age of 65. He will serve as the Chief Justice till May 13 next year.Born on May 14, 1960, Justice Sanjiv Khanna studied law at the Campus Law Centre of Delhi University. He was a third-generation lawyer before being appointed as judge of the Delhi High Court. He also served as the executive chairman of the National Legal Service Authority (NALSA).Justice Khanna was appointed to the Supreme Court in January 2019. During his tenure as a top court judge, he headed the benches of several politically sensitive cases, including hearing the bail applications of Aam Aadmi Party (AAP) leader and former Delhi chief minister Arvind Kejriwal in the liquor policy case.

 

INTERNATIONAL UPDATES:

 

1. Hyderabad to host international poultry expo from November 27: The Indian Poultry Equipment Manufacturers Association (IPEMA) will organise a three-day poultry expo in Hyderabad from November 27.A technical seminar with the theme ‘Unlocking Poultry Potential’ will be held on November 26.Over 400 exhibitors from about 50 countries will take part in the expo. Over 40,000 poultry farmers and others in the ecosystem are expected to participate in the 16th edition of the event.The Knowledge Day event on November 26 will feature sessions on modem poultry production, innovations in feed mills nutrition, and animal health.The seminar provides an exceptional opportunity to learn from the best minds in the industry.

 

2. IIT Delhi No. 1 Indian Institute in QS World University Rankings: Asia 2025: The Indian Institute of Technology Delhi (IIT Delhi) has been ranked as the top Indian educational institution in the latest QS World University Rankings Asia 2025.IIT-Delhi has been ranked 44th best educational institution, while China’s Peking University retained the top spot amongst the list of educational institutions in Asia as per the QS World University Rankings: Asia (2025).Out of the 984 educational institutions included in the ranking, the highest, 162 were from India. IIT Delhi was the highest-ranked Indian institution, with a rank of 44, up from 46 last year. IIT-Delhi was also the highest-ranked educational institution in the South Asian Region.In the South Asian region, among the top 10 institutions, seven are Indian institutions. After IIT-D, IIT-Bombay was second highest, with a rank of 48, and IIT-Madras was third, with a rank of 56.

 

3. India ranked 6th in WIPO Global Patent Filings in 2023: India has, for the first time, has been ranked 6th in the world for Global Patent Filings in 2023.According to the World Intellectual Property Organization (WIPO) annual World Intellectual Property Indicators Report 2024, global patent filing increased by 15.7 % in 2023, primarily due to a strong increase in patent filing in India.In 2023, the maximum patent filing was in China (1.64 million), followed by the United States of America (518,364), Japan (414,413), South Korea (287,954), Germany (133,053) and India (64,480).According to the WIPO report, More than 35 lakh patents were filed in 2023 across the world. The number of patents filed in India in 2023 was 64,480.The country’s growth rate in patent filing was 15.7 % compared to 2022. The patent filing in India has shown the 5th consecutive year of a double-digit growth rate.

 

4. UN Climate Change Conference starts in Azerbaijan: The 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP29) kick off in the Azerbaijani capital Baku, aiming to address escalating climate challenges.Leaders from around the world are set to gather in Baku for the event, running until Nov. 22.A key focus of COP29 will be on finance, as trillions of dollars are required for countries to drastically reduce greenhouse gas emissions and protect lives and livelihoods from the worsening impacts of climate change.The United Nations Framework Convention on Climate Change (UNFCCC) is a multilateral treaty established in 1992, following the first assessment report by the Intergovernmental Panel on Climate Change (IPCC).

 

5. China’s Li Quanhai re-elected as World Sailing president: Li Quanhai was re-elected as president of World Sailing for a new four-year term at the organization’s Annual General Meeting continuing as the only Chinese president of an Olympic International Sports Federation.Founded in Paris in 1907, World Sailing is recognized by the International Olympic Committee as the global governing body for sailing, with 137 member national authorities.The organization holds leadership elections every four years, and Li first assumed the presidency in November 2020.

 

6. 10 November – World Public Transport Day: World Public Transport Day is observed annually on November 10, encourages people to embrace public transit options and raise awareness of the significant environmental and social benefits of sustainable transportation.Celebrated globally, this day emphasises the importance of accessible, efficient, and eco-friendly public transport systems for reducing pollution, easing traffic congestion, and enhancing quality of life.Theme 2024 – Connecting Communities, Reducing Emissions

 

OTHER UPDATES:

DEFENCE

 

1. CDS Gen Anil Chauhan inaugurates 2nd Indian Military Heritage Festival: Chief of Defence Staff General Anil Chauhan has inaugurated the 2nd edition of the annual Indian Military Heritage Festival in New Delhi.The two-day festival aims to engage global and Indian think tanks, corporations, government and private sectors, non-profits, and academics, focusing on India’s national security, foreign policy, and military heritage.General Chauhan also launched Project Shaurya Gatha, which aims to conserve and promote India’s military heritage through education and tourism. He also released key military publications, including Because of This: A History of the Indo-Pak Air War December 1971 by Air Marshal Vikram Singh (Retd), Valour and Honour, and War-Wounded, Disabled Soldiers and Cadets.

 

2. Theatre Command Level Ex Poorvi Prahar to commerce along China border: The Indian Army, Indian Air Force and the Indian Navy will jointly commence a command-level tri-service theatre exercise code-named ‘Poorvi Prahar’ along the India-China border.The Poorvi Prahar exercise will be held from 10-18 November 2024. The exercise assumes significance in the Indian government’s effort to set up an integrated theatre command in India.The Poorvi Prahar exercise will take place along the mountainous terrain of the India-China border in the eastern theatre. It will be held from the airfields of Assam in Dibrugarh, Jorhat, and Tezpur to the valleys and mountains of Arunachal Pradesh along the India-China border.Theatre in the military refers to a specific geographical area, whether in the sea, air, or land. These areas could potentially become areas of conflict or war in the future.

 

SPORTS 

 

1. Senior National Wrestling Championship set to be held in Bengaluru in December: The Karnataka Wrestling Association will host the 2024 Senior National Wrestling Championship in Bengaluru from 6th to 8th December.This prestigious event will showcase India’s top wrestlers, including Olympic Bronze Medalist Aman Sehrawat and U-20 World Champion Antim Panghal, among others.The championship marks a significant moment as it will be held in Karnataka for the first time, aiming to revive the sport’s legacy in the region.The Competitions will span three disciplines: Free Style, Greco Roman Style, and Women’s Wrestling.

 

BANKING AND FINANCE

 

1. ADB approves $200 million for Uttrakhand Livability Improvement Project: The Asian Development Bank (ADB) has sanctioned a $200 million loan to finance the Uttarakhand government’s Livability Improvement Project, which aims to upgrade and strengthen its urban infrastructure and make it climate resilient.The Uttarakhand Livebality Improvement Project is implemented by the Government of Uttarakhand and co-financed by the Asian Development Bank and the European Investment Bank.The total cost of the Uttarakhand Livability Improvement Project is $465.9 million, of which the State government will provide $74.9 million, the European Investment Bank $191 million, and the ADB $200 million.The Livability Improvement Project seeks to enhance the quality of life and climate resilience by upgrading the state’s water supply, sanitation, drainage, flood management, urban mobility, and other urban services.

 

Daily GK Update- 10th Nov, 2024

NATIONAL UPDATES:

 

1. 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.

 

2. 2024 Became the Hottest Year Ever Recorded: Recent analysis shows that 2024 could break global temperature records for the second consecutive year. The C3S evaluated data from the first ten months of 2024. October was recorded at 1.65°C above preindustrial levels. This marks the 15th month in the last 16 where temperatures have exceeded the critical 1.5°C threshold. The average global temperature anomaly for 2024 has reached unprecedented levels. The WMO utilises various datasets to compile temperature records. These include data from NOAA, NASA, the UK Met Office, and other reputable sources. The datasets incorporate observational data and weather models. This combination allows for a comprehensive overview of global temperatures, including areas lacking observational sites.

 

3. Ladki Bahin Yojana Scheme: Prime Minister Narendra Modi recently addressed a rally in Nashik. He brought into light the Mahayuti government’s ‘Ladki Bahin Yojana’. This scheme aims to empower underprivileged women in Maharashtra. Modi’s remarks came amid the upcoming assembly elections on November 20. His speech focused on women’s issues, farmer welfare, and infrastructure development. The Prime Minister emphasized his government’s dedication to women’s welfare. He mentioned that three crore women have become ‘Lakhpati Didi’ through self-help groups. These women earn an annual income of Rs 1 lakh or more. Modi also brought into light housing initiatives under the PM Awas Yojana, which are allocated in women’s names.

 

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. 10 November – World Science Day for Peace and Development: World Science Day for Peace and Development is celebrated annually on November 10, serves as a significant reminder of the vital role that science plays in society and its contribution to global peace and sustainable development.Organized by UNESCO since 2001, this day emphasizes the importance of connecting science with society and ensuring that scientific knowledge is shared widely, making it relevant and accessible to everyone.Theme 2024 – Youth at the Forefront

 

3. 10 November – World Immunization Day 2024: World Immunization Day is observed annually on November 10.Objective – To raise awareness about the vital role vaccines play in preventing infectious diseases and protecting public health.Immunization is one of the most effective and cost-efficient intervention for controlling and eradicating diseases, saving millions of lives globally each year.The Universal Immunization Programme (UIP) is one of India’s most comprehensive public health initiatives, aiming to provide life-saving vaccines to millions of newborns and pregnant women each year. Initially launched in 1978 as the Expanded Programme on Immunization, it was rebranded as the UIP in 1985 when its coverage was extended beyond urban centres to rural areas.

 

OTHER UPDATES:

DEFENCE

 

1. India-Australia Joint Military Exercise “AUSTRAHIND” Begins: Exercise AUSTRAHIND has commenced in Pune, Maharashtra. This joint military exercise runs from 8th to 21st November 2024. It involves troops from India and Australia. The exercise takes place annually, alternating between the two nations. The last edition occurred in Australia in December 2023. The primary aim is to enhance military cooperation. It focuses on improving interoperability. This is essential for conducting joint sub-conventional operations. The operations will occur in a semi-urban environment. The exercise will also address challenges in semi-desert terrain.

 

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. 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.

 

2. 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:  Rising Star of the Year Award

 

Male-Sufyan Khan (Pakistan)

Women-Zoe Diaz (Argentina)

 

Coach of the Year Award

Men- Jeroen Delmee (Netherlands)

Women-Alyson Annan (China)

 

Umpire of the Year

Male – Steve Rogers (Australia)

Women-Sarah Wilson (Scotland)