18th-20th November, 2023

1. Central Electricity Authority (CEA), Ministry of Power has approved DPRs of SJVN projects in Arunachal Pradesh worth ₹40,000 Crore.
2. Government has launched financial incentive to improve financial inclusion and foster economic empowerment of Divyang Individuals.
3. 6th high-level meeting of the India-OPEC Energy Dialogue took place on 9 November 2023, at the OPEC Secretariat in Vienna, Austria.
4. 42nd edition of India International Trade Fair 2023 has been inaugurated at Pragati maidan, New Delhi.
5. Ladakh has received 4th geographical indication(GI) for Sea Buckthorn.
6. Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu released a book titled ‘Snakes of Himachal Pradesh’.
7. Telangana government led incubator T-Hub has unveiled two flagship initiatives on the occasion of its 8th foundation day.
8. RBI has barred Bajaj Finance from lending under its two products due to non-compliance with digital lending guidelines.
9. Punjab National Bank has launched Digital Gold Loan during the bank’s Digital Mahotsav event.
10. Goldman Sachs has upgraded its outlook on Indian equities and cuts rating for China.
11. Morgan Stanley has forecasted Indian Economy to grow by 6.5% in FY 2024 and FY 2025 in its recently released ‘2024 India Economics Outlook’.
12. Small Industries Development Bank of India (SIDBI) has launched ‘Sumpoorn’ MSME Economic Activity Index in collaboration with Jacota.
13. India and Sri Lanka have commenced 9th edition of joint military exercise ‘MITRA SHAKTI-2023’.
14. Indian Navy has launched 4th anti-submarine Warcraft named ‘Amini’ at L&T Shipbuilding’s facility in Kattupalli, Tamil Nadu.
15. Indo-Pacific Regional Dialogue (IPRD), annual apex-level international conference of the Indian Navy has been held in New Delhi from November 15 to 17, 2023.
16. Central Government has launched PM-Kisan Bhai (Bhandaran Incentive) scheme on a pilot basis to break traders’ monopoly.
17. International Society for Ecological Economics (ISEE) has awarded Indian Economist and Padma Shree awardee Bina Agarwal with 2023 Kenneth E. Boulding Memorial Award for Ecological Economics.
18. GAIL (India) Limited has won two prestigious awards at the Asian Oil and Gas Awards event held in Kuala Lumpur, Malaysia.
19. Government of Maharashtra has awarded veteran playback singer and Padma Shri awardee Suresh Ishwar Wadkar with 2023 ‘Gansamragini Lata Mangeshkar Award’.
20. Deepti Babuta has become first woman to bag Dahan Prize for Punjabi literature.
21. National Epilepsy Day 2023
22. International Students’ Day
23. National Naturopathy Day
24. World Antimicrobial Resistance (AMR) Awareness Week
25. Small Industries Development Bank of India (SIDBI) and Technology Development Board (TDB) has signed a MoU to strengthen MSME sector in India.
26. Ashok Vaswani has been appointed as Director, Managing Director and CEO of the Kotak Mahindra Bank.
27. Reserve Bank of India (RBI) has approved the appointment of Isha Ambani, Anshuman Thakur and Hitesh Kumar Sethia as directors of Jio Financial Services.
28. Three new judges have taken the oath of office in Supreme Court of India.
29. Vice-President Jagdeep Dhankhar has released new book titled “Building Partnership” during the Indo-Pacific Regional Dialogue in New Delhi.
30. World Health Organization has launched Commission on Social Connection (2024–2026) to improve global connection and to address loneliness as a significant health threat globally.
31. Booker Prize winning author Dame Antonia Byatt has passed away.
32. Indian art historian, a world authority on miniature paintings and a Padma Awardee, Brijinder Nath Goswamy has passed away.
33. Indian Space Research Organization (ISRO) has launched ‘ISRO Robotics Challenge-URSC 2024 (IRoC-U 2024)’, a robotic challenge for aspirants interested in space mission.

National News

1. Central Electricity Authority (CEA), Ministry of Power has approved DPRs of SJVN projects in Arunachal Pradesh worth ₹40,000 Crore.
   • CEA has transferred concurrences of DPRs of 3,097 MW Etalin HEP & 680 MW Attunli HEP
     Source: ET
2. Government has launched financial incentive to improve financial inclusion and foster economic empowerment of Divyang Individuals.
   • Objective–
     • To reduce the financial burden on Divyang individuals seeking financial assistance and encouraging responsible repayment practices.
   • Financial incentive–
     • People will be provided 1% interest rate rebate under National Divyangjan Finance and Development Corporation (NDFDC) loan for timely repayment, subject to specific terms and conditions.
       Source: PIB

3. 6th high-level meeting of the India-OPEC Energy Dialogue took place on 9 November 2023, at the OPEC Secretariat in Vienna, Austria.
   • Focus of discussion & India’s role–
     • Emphasis on ensuring availability, affordability, and sustainability for the stability of energy markets.
     • Open and candid discussions centred on key issues related to oil and energy markets.
     • India recognized as having a crucial role in global economic growth and energy demand.
     • World Oil Outlook 2023 highlighted India as the fastest-growing major developing economy, projecting 6.1% long-term growth between 2022-2045.
     • India expected to account for over 28% of incremental global energy demand during the same period.

4. 42nd edition of India International Trade Fair 2023 has been inaugurated at Pragati maidan, New Delhi.
   • Theme of the event– ‘Vasudhaiva Kutumbakam- United by Trade’
   • Partner States– Bihar & Kerala
   • Focus states– Delhi, Jammu & Kashmir, Jharkhand, Maharashtra and Uttar Pradesh
     Source: AIR

State News

1. Ladakh has received 4th geographical indication(GI) for Sea Buckthorn.
   • Other product of Ladakh with GI tag–
     • Apricot (Raktsey Karpo)
     • Pashmina
     • Ladakhi Wood Carving

2. Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu released a book titled ‘Snakes of Himachal Pradesh’.
   • Compiled by– Principals of the State Institute of Health and Family Welfare
   • The book contains photographs of snakes at different locations in Himachal Pradesh.
     Source: ANI

3. Telangana government led incubator T-Hub has unveiled two flagship initiatives on the occasion of its 8th foundation day.
   • About T-Bridge: It will facilitate global market access for Indian startups and help them to expand their India’s border.
   • About T-Scale: It has introduced a growth maturity model which will guide 25 qualifying startups through a 12-month journey and prepare them for Series-A funding.
     Source: TOI

Banking and Economy

1. RBI has barred Bajaj Finance from lending under its two products due to non-compliance with digital lending guidelines.
   • Products under ban– eCom and Insta EMI Card
     Source: livemint
   
   
   
   
2. Punjab National Bank has launched Digital Gold Loan during the bank’s Digital Mahotsav event.
   • Objective–
     • To provide a hassle-free credit to customers to quickly meet their personal as well as agriculture credit requirements by using gold jewellery and/or ornaments as collaterals.

   • Schemes launched-
     • PNB Gold Loan for the retail segment
       • Scheme allows individuals to borrow amounts ranging from Rs 25,000 to Rs 25 lakh for personal needs
     • PNB Swarnim for the agriculture segment
       • Borrowers seeking short-term production and/or investment credit for agriculture activities are eligible for loans of minimum Rs 10,000 to maximum Rs 2 lakh

       Source: outlook

   
   
3. Goldman Sachs has upgraded its outlook on Indian equities and cuts rating for China.
   • Reason for upgrade in Indian outlook–
     • Due to stock market’s strategic appeal that is driven by the large domestic market of the fast-growing economy amid a global slowdown.
   • Reason for decrease in rating of China–
     • Goldman Sachs has downgraded its rating g on Hong Kong-traded China stocks due to low earnings growth

4. Morgan Stanley has forecasted Indian Economy to grow by 6.5% in FY 2024 and FY 2025 in its recently released ‘2024 India Economics Outlook’.
   • Reason for strong growth–
     • This growth rate is due to strong domestic fundamentals, supported by corporate and financial sector strength and policy reform measures.
   • Other Economic Forecasts:
     • Moody’s Investor Services–
       • Growth rate- 6.7% for 2023,
       • Reason- Due to resilience amid a global slowdown.
     • IMF has raised its 2023-24 growth projection for India.
       • Growth rate- 6.3%,
       • Reason- Due to stronger-than-expected consumption in Q1
     • The Reserve Bank of India (RBI) estimates growth at 6.5% for FY24.
   • Inflation and Current account deficit:
     • Morgan Stanley expects headline inflation to moderate to 4.9% in FY2025 from 5.4% in FY2024.
     • Current account deficit is expected to remain in the range of 1.5-1.7% of GDP in FY2025-26.

5. Small Industries Development Bank of India (SIDBI) has launched ‘Sumpoorn’ MSME Economic Activity Index in collaboration with Jacota.
   • Objective–
     • To capture and reflect the state of India’s MSMEs, which contribute significantly to the country’s Gross Value Added (GVA) and total exports.
   • About the Index–
     • The index is described as a “relative amplitude adjusted composite diffusion index.”
     • It is developed using consent-led and anonymized monthly sales data from official GSTN returns of more than 50,000 credit-seeking MSMEs.
     • This is a departure from currently available macro indices that often rely on opinion or survey-based data.

Source: Business Standard

Defence News

1. India and Sri Lanka have commenced 9th edition of joint military exercise ‘MITRA SHAKTI-2023’.
   • Location– Aundh, Pune
   • Objectives–
     • To jointly rehearse the conduct of Sub Conventional operations under Chapter VII of the United Nations Charter.
     • To further strengthen strong bilateral relations between India and Sri Lanka
   • Focus area–
     • The exercise focuses on synergizing joint responses during counter-terrorist operations.
     • Tactical actions such as raids, search and destroy missions, heliborne operations, etc., will be practiced.
   • Participating Forces–
     • Indian contingent- 120 personnel from the MARATHA LIGHT INFANTRY Regiment & 15 personnel from the Indian Air Force
     • Sri Lankan contingent- 53 Infantry Division & five personnel from the Sri Lankan Air Force
       Source: PIB
2. Indian Navy has launched 4th anti-submarine Warcraft named ‘Amini’ at L&T Shipbuilding’s facility in Kattupalli, Tamil Nadu.
   • Key features–
     • ‘Amini’ is designed to specialize in anti-submarine operations in coastal waters.
     • It is also equipped for low intensity maritime operations (LIMO) and mine-laying operations.
   • Why the ship has been named ‘Amini’?
     • To signify the strategic maritime importance of the island of Amini at Lakshadweep, which is located about 400 km west of Kochi.
     • Manufactured by– Garden Reach Shipbuilders & Engineers Ltd (GRSE)
       Source: Hindu Business Line
3. Indo-Pacific Regional Dialogue (IPRD), annual apex-level international conference of the Indian Navy has been held in New Delhi from November 15 to 17, 2023.
   • What is IPRD?
     • IPRD is the principal manifestation of the Indian Navy’s international engagement at the strategic level, focusing on ‘holistic’ maritime security issues across the Indo-Pacific.
     • It is preceded by the Goa Maritime Conclave 2023, which emphasizes cooperative engagement at the strategic-operational level in the Indian Ocean Region.
   • Organizers–
     • National Maritime Foundation (NMF) is the Indian Navy’s knowledge partner and chief organizer of each edition of IPRD.
   • Theme of IPRD-2023–
     • Geopolitical Impacts upon Indo-Pacific Maritime Trade and Connectivity
   • Participation–
     • International participation from 16 countries, offering diverse regional perspectives
       Source: PIB

Agriculture and Rural Development

1. Central Government has launched PM-Kisan Bhai (Bhandaran Incentive) scheme on a pilot basis to break traders’ monopoly.
   • Key benefit–
     • Scheme is expected to empower farmers, allowing them to retain their crops for a minimum of three months post-harvest.
     • Pilot launch of the scheme (need not be remembered as of now)-
     • In the first phase, the scheme may be implemented on pilot basis in Andhra Pradesh, Assam, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu and Uttar Pradesh.
     • Estimated expenditure– 170 Crore in three years including current fiscal
       Source: Hindu Business Line

Awards

1. International Society for Ecological Economics (ISEE) has awarded Indian Economist and Padma Shree awardee Bina Agarwal with 2023 Kenneth E. Boulding Memorial Award for Ecological Economics.
   • She shared the prize with David Barkin, a professor at the Metropolitan University in Mexico City.
   • She is Professor of Development Economics and Environment at the Global Development Institute, University of Manchester, and ex-director of the Institute of Economic Growth Delhi.

2. GAIL (India) Limited has won two prestigious awards at the Asian Oil and Gas Awards event held in Kuala Lumpur, Malaysia.
   • About awards won by GAIL–
     • The Innovation Award – Awarded for the reduction in LNG shipping cost and emissions through Ship-to-Ship (STS) transfer of LNG with backhauling.
     • Midstream Project of the Year – India- Awarded for the installation of the first floating Compressed Natural Gas (CNG) station at Varanasi.
   • About Asian Oil and Gas Awards-
     • The award recognizes the outstanding players in Asia’s oil and gas sector.
       Source: psuwatch
3. Government of Maharashtra has awarded veteran playback singer and Padma Shri awardee Suresh Ishwar Wadkar with 2023 ‘Gansamragini Lata Mangeshkar Award’.
   • About Gansamragini Lata Mangeshkar Award–
     • It is an annual award given by the Directorate of Cultural Affairs of the Maharashtra Government in memory of Playback singer Lata Mangeshkar.
       Source: ETV

4. Deepti Babuta has become first woman to bag Dahan Prize for Punjabi literature.
   • She has been awarded for her short story collection ‘Bhukh Eon Sah Laindi Hai’ (‘Hunger Breathes Like This’).
   • Award– 25,000 Canadian Dollar and a trophy.

Source: HT

Important Days

1. November 17– National Epilepsy Day 2023
   • Epilepsy is a brain disorder that can cause seizures due to abnormal brain activity or temporary changes in the brain’s electrical functioning.
     Source: HT

   
   
2. November 17– International Students’ Day
   Source: HT
3. November 18– National Naturopathy Day
   Source: PIB
4. November 18-24– World Antimicrobial Resistance (AMR) Awareness Week; Theme– Preventing antimicrobial resistance together
   Source: unep

Memorandum of Understanding

1. Small Industries Development Bank of India (SIDBI) and Technology Development Board (TDB) has signed a MoU to strengthen MSME sector in India.
   • Objective:
     • To facilitate easier access to credit for enterprises involved in the development and commercial application of indigenous or imported technology.
   • About MoU–
     • TDB and SIDBI will provide financial support to eligible MSMEs based on their respective policy guidelines.
     • The parties plan to promote the initiative and reach a wider audience through mutually agreed-upon outreach/marketing activities.

Source: PIB

Appointments

1. Ashok Vaswani has been appointed as Director, Managing Director and CEO of the Kotak Mahindra Bank.
   • Tenure of appointment– 3 Years (From January 1, 2024)

2. Reserve Bank of India (RBI) has approved the appointment of Isha Ambani, Anshuman Thakur and Hitesh Kumar Sethia as directors of Jio Financial Services.
   Source: Business Today
3. Three new judges have taken the oath of office in Supreme Court of India.
   • New appointments–
     • Justice Satish Chandra Sharma
     • Justice Augustine George Masih
     • Sandeep Mehta
       Source: Deccan Herald

Miscellaneous

1. Vice-President Jagdeep Dhankhar has released new book titled “Building Partnership” during the Indo-Pacific Regional Dialogue in New Delhi.
   • Book name: Building Partnership: India & International Cooperation for Maritime Security
   • Authored by: Capt Himadri Das
     Source: PIB

2. World Health Organization has launched Commission on Social Connection (2024–2026) to improve global connection and to address loneliness as a significant health threat globally.
   • About commission–
     • It will focus on analyzing the central role social connection plays in improving health across all age groups and outlining solutions to build social connections at scale.
     • The Commission is co-chaired by U.S. Surgeon General, Dr Vivek Murthy, and African Union Youth Envoy, Chido Mpemba.
     • It consists of 11 leading policy-makers, thought leaders, and advocates from various backgrounds.
   • Duration: 3 years (2024-2026)
   • Objective–
     • To establish social connection as a global health priority, recognizing its impact on well-being and its role in fostering economic progress, social development, and innovation.
   • Observation about Loneliness and social isolation–
     • Loneliness and social isolation are identified as widespread issues affecting people of all ages across the world, with one in four older people experiencing social isolation.
       Source: WHO
3. Booker Prize winning author Dame Antonia Byatt has passed away.
   • She has been awarded Booker Prize for Fiction in 1990 for her novel ‘Possession: A Romance’.
   • Some other books written by her-
     • The Children’s book (2009)
     • Medusa’s Ankles: Selected Stories (2021)
       Source: ET
4. Indian art historian, a world authority on miniature paintings and a Padma Awardee, Brijinder Nath Goswamy has passed away.
   • He was best known for his path-breaking work on the Pahari style of paintings.
   • Few of his books & essays–
     • Pahari Painting: The Family as the Basis of Style (Essay)
     • The Spirit of Indian Painting
     • Wonder of the Age, Master Painters of India, 1100-1900
     • The India Cat: Stories, Paintings, Poetry and Proverbs
       Source: Indian Express

   
   
5. Indian Space Research Organization (ISRO) has launched ‘ISRO Robotics Challenge-URSC 2024 (IRoC-U 2024)’, a robotic challenge for aspirants interested in space mission.
   • Objectives–
     • To provide an opportunity for students in the area of space robotics
     • To provide a standardised platform for exploring the area of space robotics;
     • To develop a deeper understanding of space robotics and its applications among the student community, and
     • To co-develop (students and ISRO) future technologies needed in the area of space robotics.
   • Tagline– Let’s build a space robot

Source: Business Standard

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