05th-06th November, 2023

1. Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal has flagged off maiden voyage of Costa Serena, first International Cruise Liner in India from Mumbai.
2. NITI Aayog has organized a workshop in partnership with the Observer Research Foundation (ORF) on India-African Union (AU) Collaboration for a Better Inclusive World.
3. Jharkhand Cabinet has approved ₹1,485 crore electrification scheme and pilot training academy.
4. Energy Efficiency Services Limited (EESL) has launched its groundbreaking National Efficient Cooking Programme (NECP) and Energy Efficient Fans Programme (EEFP).
5. RBI has increased the minimum amount for offering non-callable term deposits to ₹1 Crore from existing 15 lakh for banks.
6. Insurance Regulatory and Development Authority of India (IRDAI) has constituted taskforce to review existing Bancassurance norms.
7. Ageas Federal Life Insurance has launched Super Cash plan for regular income and security.
8. 5th edition of The Business Line Changemaker Award held in New Delhi.
9. Finance Minister Nirmala Sitaraman has inaugurated State Bank of India branch in Trincomalee, Sri Lanka.
10. National Basketball Association has partnered with Bhanee Private Limited to drive its e-commerce platform in India.
11. RBI has imposed penalty on Punjab National Bank, Federal Bank, Kosamattam Finance and Mercedes Benz Financial Services India for violating regulatory norms.
12. International Day for Biosphere Reserve
13. World Tsunami Awareness Day
14. India has won 55 medals in 15th edition of Asian Shooting Championships 2023 held in Changwon, South Korea.
15. India and France have signed Letter of Intent (LoI) in Public Administration and Administrative reforms.
16. CSIR-National Institute of Interdisciplinary Science and Technology (CSIR-NIIST) and Hindustan Aeronautics Ltd (HAL) have signed an MoU for indigenisation and import substitution.
17. India and Italy have signed the Mobility and Migration Partnership Agreement.
18. Indian candidate Surendra Kumar Adhana has been re-elected on the Administrative and Budgetary Questions (ACABQ) for the term 2024-26.
19. Prime Minister Narendra Modi has been elected as the Chairman of Shree Somnath Trust for Five Years.
20. NASA astronaut Thomas Kenneth Mattingly II has passed away.

National News

1. Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal has flagged off maiden voyage of Costa Serena, first International Cruise Liner in India from Mumbai.
   • Objective–
     • To achieve the goal of 5 million cruise passengers in India by 2047
     • To develop cruise destinations at tourism places of coastal state and islands.
   • This initiative is driven by Dekho Apna Desh.
   • Measures Taken by the Government:
     • Various measures have been implemented to promote cruise tourism, including guaranteed berths, removal of Ousting charges, uniform rates, volume discounts, waiver of cabotage, and standardization of procedures for customs, immigrations, CISF, and ports.
     • Modernization of cruise terminals with enhanced passenger facilities is underway.

   • Maritime India Vision 2030:
     • The Maritime India Vision 2030 aims to establish India as the premier cruise hub in the Asia Pacific region.
   • Future Goals:
     • The government aims to increase the annual number of cruise passengers in India to 18 lakhs by 2030, up from the current figure of 4.72 lakhs.
     • The Maritime Amritkaal Vision 2047 projects 25 operational cruise terminals with an estimated annual passenger count of around 5 million by 2047.
       Source: PIB

   
   
2. NITI Aayog has organized a workshop in partnership with the Observer Research Foundation (ORF) on India-African Union (AU) Collaboration for a Better Inclusive World.
   • The workshop concentrated on implementing commitments outlined in the New Delhi Leaders’ Declaration (NDLD), signed at the recently concluded G20 Conference.
   • Participants–
     • Over 50 experts and participants from national and international think tanks, academia, and diplomats attended the workshop.

     
     
   • key themes discussed–
     • Indo-AU collaboration for an inclusive world
     • Indo-AU collaboration for sustainable and resilient infrastructure
     • Managing migration: The role of Indo-AU Partnership

Source: PIB

State News

1. Jharkhand Cabinet has approved ₹1,485 crore electrification scheme and pilot training academy.
   • Electrification scheme will be known as Mukhya Mantri Ujjwal Jharkhand Yojana.
   • Objective of Electrification Scheme–
     • To provide electricity to un-electrified rural areas and remaining urban areas.
     • The pilot training academy will be established in Dumka to provide free pilot training to eligible candidates.
       Source: ET

Banking and Economy

1. Energy Efficiency Services Limited (EESL) has launched its groundbreaking National Efficient Cooking Programme (NECP) and Energy Efficient Fans Programme (EEFP).
   • Objective–
     • To revolutionize cooking practices in India and emphasize on the importance and urgency of energy efficient fans.

   • Key Initiatives–
     • EESL will distribute 1 crore efficient Brushless Direct Current (BLDC) fan and 20 Lakh energy-efficient induction cook stoves nationwide.
     • The National Efficient Cooking Programme (NECP) introduces induction-based cook-stoves, offering a cost advantage of 25-30% over traditional cooking methods
     • The Energy Efficient Fans Programme (EEFP) focuses on deploying energy-efficient BLDC fans, with the goal of distributing 1 crore ceiling fans.
     • These demand side measures have the potential of reducing greenhouse gas emissions by almost 40% by 2050.

2. RBI has increased the minimum amount for offering non-callable term deposits to ₹1 Crore from existing 15 lakh for banks.
   • All customers will get an option to prematurely withdraw money from fixed deposits (FDs) of up to 1 crore.

3. Insurance Regulatory and Development Authority of India (IRDAI) has constituted taskforce to review existing Bancassurance norms.
   • Objective–
     • To review the existing Bancassurance framework and improve the efficiency of the of Bancassurance
     • To address the complaints of mis-selling and forced selling
     • To boost insurance penetration in the country, aligning with the goal of ensuring insurance for all by 2047
   • About Taskforce–
     • The taskforce is chaired by J Meena Kumari, Executive Director (Life) at IRDAI
     • The taskforce is required to submit its recommendations within a period of two months from the order.

4. Ageas Federal Life Insurance has launched Super Cash plan for regular income and security.
   • About Super cash plan–
     • It is a non-linked, participating savings plan for retail customers.
     • It offers a combination of immediate liquidity and financial stability
     • The plan starts providing you return from the first policy month itself.
     • The plan provides guaranteed boosters after every fifth policy year designed to enhance savings
     • The policyholder also receives a lumpsum maturity benefit at the end of the policy term.
     • Exclusive Benefits for Females – With an aim to drive life insurance penetration, the plan offers female purchasers, an increase of up to 12% on the sum assured on maturity depending on the premium payment term.
     • Rebate on High Sum Assured or Premium – Policyholders are offered additional benefits, especially if the annualized premium exceeds Rs 3 lakh.

   
   

5. 5th edition of The Business Line Changemaker Award held in New Delhi.
   • Winner’s list–

6. Finance Minister Nirmala Sitaraman has inaugurated State Bank of India branch in Trincomalee, Sri Lanka.
   • It will play an important role by supporting corporates in international trade.
   • Finance Minister also held the 12th round of the Economic and Technology Cooperation Agreement (ETCA) with Sri Lanka.
   • 12th ECTA covered goods, services, rules of origin, trade remedies, customs procedures and trade facilitation, technical barriers to trade and a range of topics, a press release said.
     Source: livemint

7. National Basketball Association has partnered with Bhanee Private Limited to drive its e-commerce platform in India.
   • Bhanee Private Limited is an Indian clothing brand, will operate NBAStore.in offering a large selection of official NBA merchandise in India.
   • Online store offers player jerseys, apparel, footwear, accessories, etc. from major brands.
   • Fans can also participate in contests to win prizes including tickets to NBA games in USA.

8. RBI has imposed penalty on Punjab National Bank, Federal Bank, Kosamattam Finance and Mercedes Benz Financial Services India for violating regulatory norms.
   • Details of penalty–
     • PNB has been fined Rs 72 lakh for non-compliance with certain provisions related to ‘interest rate on advances’ and ‘customer service in banks.’
     • Federal Bank has been fined Rs 30 lakh for contravention of certain provisions of Know Your Customer (KYC) norms.
     • Mercedes-Benz Financial Services India Private Ltd (formerly known as Daimler Financial Services India Private Ltd) has been penalized with a Rs 10 lakh penalty for non-compliance with certain provisions of the KYC Direction, 2016.
     • Kosamattam Finance Ltd, based in Kottayam, has received a monetary penalty of Rs 13.38 lakh for non-compliance with certain provisions of the ‘Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016.’
       Source: TOI

Important Days

1. November 3– International Day for Biosphere Reserve
   Source: UNESCO
2. November 5– World Tsunami Awareness Day; Theme– Fighting inequality for a resilient future
   Source: UN

Sports

1. India has won 55 medals in 15th edition of Asian Shooting Championships 2023 held in Changwon, South Korea.
   • India has finished second in the medal tally.
   • Medal tally-

Source: Olympics.com

Memorandum of Understanding

1. India and France have signed Letter of Intent (LoI) in Public Administration and Administrative reforms.
   • Signatories–
     • Department of Administrative Reforms on behalf of Government of India and Public Grievances, and H.E. Mr. Thierry Mathou, Ambassador of France to India.
   • Objective–
     • Strengthen the bilateral partnership between India and France in the field of public administration and administrative reforms over next 3 years.

   • Areas of Collaboration–
     • Exchange visits focusing on administrative reforms.
     • Conducting good governance webinars.
     • Collaborating on research publications.
     • Institutional exchanges and capacity building programs.
     • Replication of good governance practices.
   • Key Initiatives–
     • Both sides agreed to strengthen the relationship through high-level exchanges in the coming months.
     • India presented its vision of Next Generation Reforms, emphasizing the policy “Maximum Governance – Minimum Government” and the digital transformation of public institutions.
       Source: PIB
2. CSIR-National Institute of Interdisciplinary Science and Technology (CSIR-NIIST) and Hindustan Aeronautics Ltd (HAL) have signed an MoU for indigenisation and import substitution.
   • Objective–
     • To strengthen the indigenisation and import substitution program for India’s aerospace and defence sectors.
   • Areas of Collaboration:
     • Collaboration covers human resource utilization, facility utilization, technology support services, consultancy services, and collaborative research in the field of light alloys.
     • Specific areas include the manufacture of aeronautical grade magnesium alloy castings using low-pressure casting (LPC) process, design and development of filler materials for salvage welding of aluminium and magnesium alloy castings, and other mutually interesting research areas.
       Source: The Hindu

3. India and Italy have signed the Mobility and Migration Partnership Agreement.
   • About agreement–
     • The agreement will facilitate the smooth movement of workers, students, and professionals between the two countries.
   • Indian diaspora in Italy–
     • Indian diaspora in Italy is third-largest in Europe, following the United Kingdom and Netherland.
     • Indians are mostly employed in sectors like agriculture, dairy farming, leather industry, construction and service sector
       Source: ET
     
     

Appointments

1. Indian candidate Surendra Kumar Adhana has been re-elected on the Advisory Committee on Administrative and Budgetary Questions (ACABQ) for the term 2024-26.
   • About Administrative and Budgetary Questions–
     • It reviews and provides recommendations on the organization’s budget, administrative policies, and financial matters.
     • Committee plays an important role in maintaining transparency, efficiency, and accountability in the UN’s administrative and budgetary process.
       Source: TOI
2. Prime Minister Narendra Modi has been elected as the Chairman of Shree Somnath Trust for Five Years.
   • The religious charitable trust owns and manages the Somnath temple.
     Source: Indian Express
   
   
   
   
   
   

Miscellaneous

1. NASA astronaut Thomas Kenneth Mattingly II has passed away.
   • He has served as the pilot of spacecraft’s command module during NASA’s Apollo 16 mission to moon.

Source: ET

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