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21st November, 2024

India-IEA, Critical Minerals, Renewable Energy, CEA, SPCB, MoHUA, UN-Habitat, MoC, Cultural Heritage, FTII, Oscar, India-Japan, Navy Warships, SBI, HDFC Bank, ICICI Bank, RBI, D-SIBs, MoF, PSBs, RIL, NTPC, ONGC, UN Tourism, Best Tourism Villages, LIC, Tata Power, DRDO, Guided Pinaka Weapon System, IAEA, PAAT Mobile App, World Day of Remembrance for Road Traffic Victims, National Epilepsy Day

  1. India-IEA MoU for Cooperation in Critical Minerals
  2. CEA: India’s Renewable Energy Hits New Milestone as Installed Capacity Surpasses 200 GW
  3. 27th Energy Technology Summit held from 12th – 14th November 2024
  4. White Category Industries Exempted from SPCB Approval Requirements
  5. MoHUA and UN-Habitat signs MoU for Sustainable Development in Urban Areas
  6. MoC launches “Amrit Parampara” to showcase India’s Cultural Heritage
  7. FTII’s short film “Sunflowers Were the First Ones to Know” Qualified for Oscar 2025
  8. India & Japan Signed Agreement to Stealth UNICORN Mast for Navy Warships
  9. SBI, HDFC Bank, ICICI Bank named in RBI’s 2024 list of D-SIBs
  10. MoF: PSBs Registers 11% Yo-Y Growth in H1 of FY25 at Rs 236 Trillion
  11. AP Signs MoU with RIL to invest Rs 65,000 cr for 500 CBG Plants
  12. NTPC & ONGC Partnered to Form a Joint Venture Company
  13. UN Tourism Recognised 55 Villages as Best Tourism Villages for 2024
  14. LIC sold 2.02% stake in Tata Power for Rs 2,888 crore
  15. DRDO Successfully Completed Flight Test of Guided Pinaka Weapon System
  16. IAEA Launched PAAT Mobile App to Streamline Radiation Alarm Assessments at Airports & Borders
  17. World Day of Remembrance for Road Traffic Victims 2024 – November 17
  18. National Epilepsy Day 2024 – November 17

Table of Content

1. National News

2. International News

3. Banking and Economy

4. Defence News

5. Awards

6. Important Days

7. Memorandum of Understanding

National News

  1. India Surpasses 200 GW in Renewable Energy Capacity
      • What:
        • India has achieved a significant milestone by surpassing 200 GW in renewable energy capacity, reaching 203.18 GW as of October 2024.
      • Why:
        • This achievement aligns with India’s target of reaching 500 GW from non-fossil sources by 2030.
      • Tell me more:
        • The renewable energy capacity increased by 13.5% from 178.98 GW in October 2023.
        • Including nuclear energy, the total non-fossil fuel capacity is now 211.36 GW, which is nearly half of India’s total electricity generation capacity of 452.69 GW.
        • Solar energy leads the capacity at 92.12 GW, followed by wind power at 47.72 GW, large hydro at 46.93 GW, small hydro at 5.07 GW, and biopower at 11.32 GW.
        • The renewable energy sector created approximately 1.02 million jobs in 2023.
Knowledge Nuggets
o Rajasthan is the leading state in renewable energy capacity with 29.98 GW, followed by Gujarat (29.52 GW), Tamil Nadu (23.70 GW), and Karnataka (22.37 GW).
o India's updated Nationally Determined Contributions (NDCs) commit to reducing emissions intensity by 45% by 2030 and achieving net-zero emissions by 2070.
Source: PIB

  1. India Hosts 27th Energy Technology Meet in 2024
      • What:
        • The Ministry of Petroleum and Natural Gas organized the 27th Energy Technology Meet (ETM) in November 2024 in Bengaluru.
      • Why:
        • The ETM aims to bring together global policymakers, maritime experts, and industry leaders to discuss advancements in energy technology and sustainable practices.
      • Tell me more:
        • The previous ETM was held in October 2023, attracting over 1,300 delegates and showcasing numerous research papers and exhibition stalls.
        • Indian Oil Corporation Limited co-hosted the event, emphasizing its role in India’s energy security.
        • The meet serves as a platform for sharing knowledge and innovations in the hydrocarbon sector.
Knowledge Nuggets
o The ETM has been held annually for 35 years, with a total of 26 conferences conducted so far.
o Indian Oil Corporation is ranked 94th on the Fortune Global 500 list.
Source: IOC

  1. India Launches Amrit Parampara Series for Cultural Unity
      • What:
        • The Ministry of Housing and Urban Affairs (MoHUA) inaugurated the ‘Kaveri Meets Ganga’ program under the Amrit Parampara Series.
      • Why:
        • The initiative aims to celebrate and unite India through its diverse art and cultural traditions, promoting the spirit of Ek Bharat Shrestha Bharat.
      • Tell me more:
        • The Amrit Parampara Series focuses on preserving traditional arts, especially those that are declining, by creating innovative programs that blend tradition with modern technology.
        • The ‘Kaveri Meets Ganga’ program features performances showcasing South Indian dance and music alongside North Indian artistic traditions.
        • The festival runs from November 2nd to 5th at Kartavya Path and the CCRT campus, featuring various traditional performances and renowned artists.
Knowledge Nuggets
o The series is part of a broader celebration marking the 150th Birth Anniversary of Sardar Patel, emphasizing unity in diversity.
o Key performances include Kuchipudi, Bharatnatyam, and folk traditions from different states.
o The initiative is organized by Sangeet Natak Akademi, Kalakshetra, and CCRT, which are autonomous institutions under the Ministry of Culture.

Source: PIB

International News

  1. IAEA Launches New App for Radiation Alarm Assessment
      • What:
        • The International Atomic Energy Agency (IAEA) has launched a new mobile application called the Personnel Alarm Assessment Tool (PAAT) to assist frontline officers in assessing radiation alarms.
      • Why:
        • The app aims to streamline the process of evaluating radiation alarms triggered at airports and border crossings, helping to quickly determine if there is a nuclear security threat.
      • Tell me more:
        • PAAT allows customs and law enforcement personnel to input data from interviews and radiation measurements to assess alarms.
        • The app includes a catalog of 70 radiopharmaceuticals used in nuclear medicine and provides a quick assessment with a color-coded signal (red, yellow, green).
        • It is expected to reduce delays for individuals who trigger alarms due to medical treatments.
Knowledge Nuggets
o PAAT is part of the IAEA's suite of tools for enhancing nuclear security measures.
o The app is available for download on Apple and Android devices in multiple languages, including Arabic, English, French, and Spanish.
o The IAEA previously launched a similar app called TRACE in 2017, which focuses on alarms caused by vehicles carrying commodities.

Source: IAEA

Banking and Economy

  1. India Eases Regulations for ‘White Category’ Industries
      • What:
        • The Ministry of Petroleum and Natural Gas announced that ‘White Category’ industries will no longer need prior approval from state pollution control boards to establish and operate.
      • Why:
        • This decision aims to simplify the regulatory process for non-polluting industries, promoting ease of doing business and encouraging investment.
      • Tell me more:
        • The ‘Consent To Establish’ (CTE) and ‘Consent To Operate’ (CTO) requirements have been merged with the environmental clearance granted by the Ministry of Environment.
        • Industries in the White Category are considered to have minimal or negligible pollution potential, such as biscuit tray manufacturing.
        • The new rules apply to industrial plants scoring up to 20 on the pollution index, which must inform state pollution boards in writing.
Knowledge Nuggets
o The MoU was signed on November 12, and it exempts plants that have already secured prior environmental clearance under previous notifications.
o The White Category classification includes 39 sectors, such as assembly of air coolers, electric lamps, solar modules, and more.
o These changes align with India's efforts to promote sustainability and reduce bureaucratic hurdles for clean industries.
Source: BS

  1. RBI Names SBI, HDFC, and ICICI as D-SIBs
      • What:
        • The Reserve Bank of India (RBI) has designated State Bank of India (SBI), HDFC Bank, and ICICI Bank as Domestic Systemically Important Banks (D-SIBs).
      • Why:
        • This designation requires these banks to maintain higher Common Equity Tier 1 (CET1) capital to enhance their resilience and stability in the financial system.
      • Tell me more:
        • SBI remains in bucket 4, needing to maintain an additional CET1 of 0.80%.
        • HDFC Bank is in bucket 2, requiring an additional CET1 of 0.40%.
        • ICICI Bank is classified in bucket 1, needing an additional CET1 of 0.20%.
        • The higher D-SIB surcharge for SBI and HDFC Bank will be effective from April 1, 2025.
Knowledge Nuggets
o The D-SIB framework was first introduced by the RBI in 2014.
o The classifications are based on data collected from banks as of March 31, 2024.
o This is part of the RBI's efforts to ensure that large banks maintain adequate capital buffers to mitigate risks.
Source: BS

  1. Public Sector Banks Show Strong Growth in H1FY25
      • What:
        • Public sector banks (PSBs) in India reported an 11% growth in aggregate business, reaching Rs 236 trillion in the first half of the financial year 2024-25 (H1FY25).
      • Why:
        • The growth reflects the effectiveness of recent banking reforms and initiatives aimed at enhancing the financial health of PSBs.
      • Tell me more:
        • Operating profit for PSBs increased by 14.4% year-on-year to Rs 1.5 trillion, while net profit rose by 25.6% to Rs 85,520 crore.
        • The global credit portfolio grew by 12.9% to Rs 102.29 trillion, and the deposit portfolio increased by 9.5% to Rs 133.75 trillion.
        • The gross non-performing assets (NPA) ratio stood at 3.12%, showing a decline of 108 basis points year-on-year.
Knowledge Nuggets
o The capital to risk-weighted average assets ratio (CRAR) for PSBs was reported at 15.43%, exceeding the regulatory requirement of 11.5%.
o The RBI had introduced the D-SIB framework in 2014 to monitor and regulate systemically important banks.
o There are currently 12 public sector banks in India, including SBI, PNB, and Bank of Baroda.
Source: BS

  1. Reliance Industries to Invest Rs 65,000 Crore in Andhra Pradesh
      • What:
        • Reliance Industries Ltd (RIL) will invest Rs 65,000 crore in Andhra Pradesh to establish 500 compressed biogas plants over the next five years.
      • Tell me more:
        • Each biogas plant will require an investment of Rs 130 crore and is expected to generate approximately 250,000 jobs.
        • The investment plan was finalized in Mumbai between Anant Ambani and Andhra Pradesh IT Minister Nara Lokesh.
        • A memorandum of understanding (MoU) will be signed between RIL and the Andhra Pradesh industries department.
Knowledge Nuggets
o The Andhra government has introduced incentives for biofuel projects, including a capital subsidy of 20% and reimbursement of state goods and services tax (SGST).
o This investment is the largest by RIL outside Gujarat under its clean energy initiative.
o The project will involve rejuvenating wasteland and training farmers in cultivating energy crops to increase their income.
Source: ET

  1. NTPC Green Forms Joint Venture with ONGC
      • What:
        • NTPC Green Limited has announced a 50:50 joint venture with ONGC Green Limited to explore and set up renewable energy projects.
      • Why:
        • The joint venture aims to enhance the development of renewable energy assets and projects, including offshore wind initiatives.
      • Tell me more:
        • The new entity, named ONGC NTPC GREEN PRIVATE LIMITED (ONGPL), will focus on both Greenfield development and acquisitions of renewable energy projects.
        • The JV will also explore opportunities in storage, e-mobility, and Environmental, Social, and Governance (ESG) compliant projects.
        • Additionally, it will look into carbon credits and green credits to support a low carbon transition.
          Source: ET
  2. LIC Sells Stake in Tata Power for ₹2,888 Crore
      • What:
        • Life Insurance Corporation (LIC) has sold over 2.02% of its stake in Tata Power Company for approximately ₹2,888 crore.
      • Why:
        • The sale is part of LIC’s strategy to reduce its holding in Tata Power and manage its investment portfolio.
      • Tell me more:
        • LIC’s shareholding in Tata Power decreased from 5.906% to 3.881%, reducing its shares from 18,87,06,367 to 12,39,91,097.
        • The shares were sold between June 20, 2024, and November 11, 2024, at an average price of ₹446.402 per share.
        • This transaction involved the sale of over 6.47 crore shares.

Knowledge Nuggets
o After the sale, LIC's shares closed at ₹921.45 apiece on the Bombay Stock Exchange (BSE), reflecting a slight increase of 0.32%.

Source: ET

Defence News

  1. DRDO Successfully Tests Guided Pinaka Weapon System
      • What:
        • The Defence Research and Development Organisation (DRDO) has successfully completed flight tests of the guided Pinaka weapon system.
      • Why:
        • The tests aim to validate the weapon system’s capabilities and prepare it for induction into the Armed Forces.
      • Tell me more:
        • The trials took place at multiple field firing ranges, including Pokhran, and assessed various parameters such as range, precision, and firing rates.
        • A total of 12 rockets were launched from two modernized Pinaka launchers during the tests.
        • Defence Minister Rajnath Singh praised the successful trials, stating they will enhance artillery capabilities.
Knowledge Nuggets
o The Pinaka rocket system can launch 12 rockets in just 44 seconds.
o The operational range of the Pinaka system varies from 7 to 90 kilometers across its different variants.
o The system is named after Lord Shiva's bow, 'Pinak,' and has been developed to improve target engagement during military operations.

Source: TOI

Awards

  1. FTII Film Qualifies for 2025 Oscars
      • What:
        • The student film from the Film and Television Institute of India (FTII) titled ‘Sunflowers Were The First Ones To Know’ has qualified for the 2025 Oscars in the Live Action Short Film category.
      • Tell me more:
        • Directed by FTII student Chidananda S Naik, the film is inspired by Indian folk stories and traditions.
        • Earlier in 2023, it won the first prize at the Cannes Film Festival’s La Cinef Selection.
        • The film features a narrative about an elderly woman who steals a village rooster, leading to chaos in the community.
Knowledge Nuggets
o The film showcases contributions from a talented team, including cinematography by Suraj Thakur and editing by Manoj V.
o Notable performances include musicians like Rakesh Chaurasiya and Ustad Amjad Ali Khan.
o The campaign for the film will include special screenings and Q&A events to engage audiences with Indian storytelling traditions.
Source: NOA

  1. UN Tourism Announces Best Tourism Villages 2024
      • What:
        • The United Nations Tourism has announced the selection of 55 new Best Tourism Villages for 2024, recognizing rural destinations for their sustainable tourism efforts.
      • Why:
        • The initiative aims to promote rural tourism as a means of community development and to highlight the importance of preserving cultural heritage.
      • Tell me more:
        • The villages were chosen from over 260 applications submitted by more than 60 UN Tourism Member States.
        • In addition to the 55 recognized villages, another 20 villages were selected to join the Upgrade Programme to improve their tourism offerings.
        • The initiative evaluates villages based on nine key areas, including cultural and natural resources, economic sustainability, and governance.
        • Dhudmaras, Chhattisgarh, India is amongst the 20 villages selected to participate in the Upgrade Programme this year.
Knowledge Nuggets
o The Best Tourism Villages initiative was launched in 2021 as part of the UN's efforts to advance tourism in rural areas.
o This year, seven villages from the Upgrade Programme achieved recognition as Best Tourism Villages.
o The initiative is part of the UN Tourism for Rural Development Programme, which aims to combat depopulation and encourage sustainable practices.

Source: UN

Important Days

  1. World Day of Remembrance for Road Traffic Victims – November 17
    Source: UN
  2. National Epilepsy Day – November 17
      • National Epilepsy Day is observed each year on November 17th in India.
        Source: CNBC

Memorandum of Understanding

  1. India Signs MoU with IEA on Critical Minerals
      • What:
        • The Ministry of Mines signed a Memorandum of Understanding (MoU) with the International Energy Agency (IEA) to cooperate in the area of critical minerals.
      • Why:
        • The MoU aims to enhance India’s access to data, analysis, and policy recommendations in the critical mineral sector for better decision-making and resource management.
      • Tell me more:
        • The IEA is an international organization under the OECD framework.
        • This collaboration is a significant step towards securing India’s critical mineral resources and promoting sustainable energy systems.
          Source: PIB
  2. India Signs MoU with UN-Habitat for Urban Development
      • What:
        • The Ministry of Housing and Urban Affairs (MoHUA) signed a Memorandum of Understanding (MoU) with the United Nations Human Settlements Programme (UN-Habitat) to promote sustainable urbanization in India.
      • Why:
        • The MoU aims to enhance cooperation towards shared prosperity and integration of social, economic, and environmental aspects in urban development.
      • Tell me more:
        • The agreement focuses on addressing disparities in urban resilience against social, environmental, and economic shocks.
        • It will facilitate cooperation on the circular economy of water, waste management, pollution control, and climate change.
        • The MoU was signed during the Twelfth World Urban Forum in Cairo, Egypt, by officials from both organizations.
Knowledge Nuggets
o The MoU emphasizes capacity building and knowledge exchange between India and UN-Habitat member states.
o Urban RAASTA (Resilient and Accelerated Advancement with Sustainable and Transformative Actions) framework was launched as part of this collaboration.
o The framework is designed for local stakeholders in India's intermediary cities to promote sustainable development rooted in traditional conservation methods.
Source: ANI

  1. India and Japan Sign MoU for UNICORN Mast Development
      • What:
        • India and Japan signed a Memorandum of Implementation (MoI) for the co-development of the UNICORN mast for the Indian Navy.
      • Why:
        • The agreement aims to enhance the capabilities of naval platforms by improving their stealth characteristics through advanced communication systems.
      • Tell me more:
        • The MoI was signed on November 15, 2024, at the Embassy of India in Tokyo between Indian Ambassador Sibi George and Japanese Commissioner Ishikawa Takeshi.
        • The UNICORN (Unified Complex Radio Antenna) mast will be integrated into ships of the Indian Navy.
        • Bharat Electronics Limited will collaborate with Japan on this project, marking a significant step in defense cooperation between the two countries.
Knowledge Nuggets
o This is the first instance of co-development and co-production of defense equipment between India and Japan.
o The UNICORN mast is designed to enhance communication systems on naval vessels.
o The Indian Navy is focused on modernizing its fleet with advanced technologies to improve operational effectiveness.

Source: PIB

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CEO of Anujjindal.in

About Anuj Jindal

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Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 5 years of experience in the field of Education.

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