20th November, 2024

1. Govt reappoints PM Modi as ISC chairman with state CMs and 9 Union ministers as members.
2. Home Ministry approves CISF’s first all-women battalion.
3. India signs agreement with Russia for advanced Pantsir air defense systems.
4. IREL and UKTMP to launch a joint venture for titanium slag production in Odisha.
5. Karnataka Bank introduces two student-focused financial products: KBL Peak and KBL Genius.
6. Punjab & Sind Bank rolls out an e-bank guarantee facility.
7. India’s exports from April to October 2024 reach $468.27 billion, growing by 7.28%.
8. Elon Musk leads Fortune’s list of most powerful business figures; Mukesh Ambani ranks 12th.
9. Mohammad Tayyab Ikram elected as the new FIH president.
10. Arvindar Singh Sahney becomes the new chairman of Indian Oil Corporation.
11. PRL scientists discover “TOI-6651b,” a planet five times the size of Earth.
12. Wriddhiman Saha retires from all formats of cricket.
13. International Day for Tolerance observed on November 16, 2024.
14. India to host the first Kho Kho World Cup in 2025.
15. Indian Army completes ‘Sanyukt Vimochan 2024,’ a major disaster relief exercise.
16. SBI’s Horniman Circle office celebrates 100 years of service.
17. Mahimkar and Prisha Shah win double titles at the Maharashtra State Open Badminton.
18. ALT EFF 2024 film festival returns to Mumbai, focusing on climate change discussions.
19. Tata Power and Druk Green Power to collaborate on a 5,000 MW green energy project in Bhutan.
20. Chhattisgarh’s Bastar village recognized by the UN as a tourism destination.
21. Karnataka to establish three global innovation districts to enhance GCC development.
22. Morgan Stanley lowers India’s FY25 growth projection to 6.7%.
23. Key highlights from the second annual India-Australia summit.
24. Indira Gandhi Peace Prize 2023 announced.
25. Sagarmanthan 2024 focuses on India’s maritime advancements.
26. Brazil officially transfers the G20 presidency to South Africa

National News

1. Inter-State Council Reconstituted with PM Modi as Chairman
   • What:
     • The Inter-State Council has been reconstituted with Prime Minister Narendra Modi as its chairman.
   • Why:
     • The council aims to enhance coordination and cooperation between the Centre and states, promoting cooperative federalism in India.
   • Tell me more:
     • The council includes all chief ministers and nine Union ministers as members, with 13 Union ministers as permanent invitees.
     • Members of the council include notable figures such as Rajnath Singh, Amit Shah, and Nirmala Sitharaman.
     • Chief ministers from all states and union territories with legislative assemblies, as well as administrators of union territories without legislative assemblies, will be part of this high-powered committee.

2. India and Australia Hold 2nd Annual Summit
   • What:
     • Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese held the 2nd India-Australia Annual Summit on November 19 during the G20 Summit in Rio de Janeiro.
   • Why:
     • The summit aimed to strengthen the Comprehensive Strategic Partnership between India and Australia.
   • Tell me more:
     • The leaders discussed cooperation in various areas, including defence, trade, education, renewable energy, and sports.
     • A Joint Statement was issued, highlighting the launch of the Renewable Energy Partnership.
     • They also talked about regional and global issues of mutual interest and emphasized a commitment to a peaceful Indo-Pacific region.

3. Sagar Manthan – The Great Oceans Dialogue Begins
   • What:
     • The Sagar Manthan – The Great Oceans Dialogue, South Asia’s largest maritime summit, has been organized in Delhi.
   • Why:
     • The summit aims to discuss sustainable and innovative practices in the maritime sector and strengthen global partnerships.
   • Tell me more:
     • The event is organized by the Ministry of Ports, Shipping, and Waterways (MoPSW) in collaboration with the Observer Research Foundation.
     • It features representatives from 61 countries and includes discussions on India’s Maritime Vision 2047.
     • India has a coastline of 7,500 kilometers, enhancing its maritime potential.
       Source: PIB

State News

1. Karnataka to Establish Three Global Innovation Districts
   • What:
     • Karnataka will set up three dedicated global innovation districts in Bengaluru, Mysuru, and Belagavi.
   • Why:
     • The initiative is part of the state’s Global Capability Centres (GCC) policy aimed at supporting innovation and technology development.
   • Tell me more:
     • Chief Minister Siddaramaiah announced the plan during the Bengaluru Tech Summit.
     • The GCC policy aims to empower these centres and attract more global companies to Karnataka.
     • Karnataka plans to train over 10,000 trainees annually in emerging technologies, focusing on deep tech and AI.
     • MoUs have been signed with major companies like Microsoft, Intel, Accenture, and IBM for training initiatives.

Source: IE

International News

1. Brazil Concludes G20 Summit with Key Achievements
   • What:
     • President Luiz Inácio Lula da Silva highlighted Brazil’s achievements during its presidency of the G20 at the closing of the summit on November 19 in Rio de Janeiro.
     • Theme: ‘Building a Just World and a Sustainable Planet’
   • Why:
     • The presentation aimed to showcase Brazil’s contributions and initiatives taken during its leadership of the G20 forum.
   • Tell me more:
     • Key achievements included:
       • Creation of the G20 Social Summit.
       • Roadmap for improving Multilateral Development Banks (MDBs).
       • Establishment of a Women’s Empowerment Working Group.
       • Inclusion of Sustainable Development Goal 18 on ethnic-racial equality.
       • Commitment to increase renewable energy production by 2023.

Source: G20 SDG

Banking and Economy

1. IREL and UKTMP Sign Joint Venture for Titanium Production
   • What:
     • IREL (India) Limited and Kazakhstan’s UKTMP JSC have signed an agreement to establish a joint venture called IREUK Titanium Limited for the production of titanium slag in India.
   • Why:
     • The joint venture aims to develop the titanium value chain in India, enhance local production capabilities, and create employment opportunities.
   • Tell me more:
     • The agreement was signed by Dr. Deependra Singh, CMD of IREL, and Ms. Assem Mamutova, President of UKTMP, with key officials from both countries present.
     • The joint venture will beneficiate low-grade ilmenite into high-grade titanium feedstock using IREL’s surplus ilmenite from Odisha.
     • UKTMP will provide the technology for producing titanium slag and will use a portion of it for their titanium sponge plant.

Source: PIB

2. Karnataka Bank Launches New Financial Products for Students
   • What:
     • Karnataka Bank has launched two new financial products: KBL Peak education loan and KBL Genius savings account.
   • Why:
     • The aim is to support students in pursuing their academic goals and provide them with financial freedom.
   • Tell me more:
     • KBL Peak:
       • Offers education loans up to ₹2 crore.
       • Covers tuition fees, accommodation, travel, books, and laptops.
       • Provides a pre-admission sanction letter to simplify the admission process.
       • Includes credit life insurance for both the student and the parent.
     • KBL Genius:
       • A student-focused savings account available in two variants: KBL Genius Signature and KBL Genius Advantage.
       • Features a minimum average balance requirement and seamless digital transactions.
       • Offers exclusive benefits on debit cards to help students manage their finances.

3. Punjab & Sind Bank Launches e-Bank Guarantee Facility
   • What:
     • Punjab & Sind Bank has launched an e-Bank Guarantee (e-BG) facility in partnership with National e-Governance Services Ltd (NeSL).
   • Why:
     • The new facility aims to replace the traditional paper-based bank guarantee process with a digital system to enhance efficiency and transparency.
   • Tell me more:
     • The e-BG facility uses e-stamping and e-signatures, which allows for secured transmission of documents.
     • This digital process saves time and effort for beneficiaries by eliminating the need for physical verification of bank guarantees.
     • Punjab & Sind Bank’s MD and CEO, Swarup Kumar Saha, highlighted that this initiative will reduce turnaround time and help prevent fraud related to physical documents.
       Source: ET
4. SBI Celebrates 100 Years of Horniman Circle Branch
   • What:
     • The State Bank of India (SBI) celebrated the 100th anniversary of its Horniman Circle Branch by releasing a commemorative Rs 100 coin.
   • Tell me more:
     • The commemorative coin was unveiled by Union Finance Minister Nirmala Sitharaman during an event at the branch in Mumbai.
     • The event also included the launch of the fifth edition of “The Evolution of the State Bank of India,” covering the bank’s changes from 1981 to 1996.
     • The Horniman Circle Branch has been part of India’s banking history since it was established as part of the Bank of Bombay in 1863.

5. Tata Power Partners with Bhutan for Clean Energy
   • What:
     • Tata Power’s shares fell by 2.6% after announcing a partnership with Bhutan’s Druk Green Power Corporation Ltd (DGPC) to develop 5,000 MW of clean energy capacity.
   • Why:
     • The partnership aims to harness Bhutan’s renewable energy resources to meet growing energy demands in both Bhutan and India.
   • Tell me more:
     • The collaboration will include the development of 4,500 MW of hydropower and 500 MW of solar projects.
     • Key hydropower projects include the 1,125 MW Dorjilung HEP, 740 MW Gongri Reservoir, 1,800 MW Jeri Pumped Storage, and 364 MW Chamkharchhu IV.
     • The Memorandum of Understanding (MoU) was signed in Thimphu in the presence of various officials, including the Prime Minister of Bhutan.

Source: ET

GDP Forecasts

1. Morgan Stanley Lowers India’s Growth Forecast for FY25
   • What:
     • Morgan Stanley has reduced India’s growth forecast for FY25 from 7% to 6.7%.
   • Why:
     • The downgrade is due to weaker-than-expected growth data for the second quarter, which is expected to grow at a slower rate of 6.3%.
   • Tell me more:
     • Despite the lower forecast, Morgan Stanley expects growth to rebound to about 6.7-6.8% in the second half of FY25.

Source: ET

Defence News

1. First All-Women Battalion Approved for CISF
   • What:
     • The Home Ministry has approved the establishment of the first all-women battalion of the Central Industrial Security Force (CISF).
   • Tell me more:
     • The proposal for the all-women battalion was initiated by Home Minister Amit Shah during the 53rd CISF Day function.
     • Currently, women make up over 7% of the CISF, and this new battalion is expected to encourage more women to join.

2. BDL Signs MoU with Russia for Pantsir Air Defence System
   • What:
     • Bharat Dynamics Limited (BDL) has signed a Memorandum of Understanding (MoU) with Russia’s Rosoboronexport (ROE) to collaborate on the Pantsir air defence missile-gun systems.
   • Tell me more:
     • The MoU was signed by BDL’s Chairman A Madhavarao and ROE’s Deputy Director General Kovalenko German during the 5th India-Russia Inter-Governmental Commission meeting in Goa.
     • The Pantsir-S1 system is a mobile, short-range air defence system designed to protect military and industrial facilities from various aerial threats.
     • It can engage targets within a range of 1,200 to 20,000 meters using missiles and 200 to 4,000 meters with guns.

3. Indian Army Conducts Successful HADR Exercise ‘Sanyukt Vimochan 2024’
   • What:
     • The Indian Army successfully completed the ‘Sanyukt Vimochan 2024’ exercise on November 18-19 in Ahmedabad and Porbandar, Gujarat.
   • Why:
     • The exercise aimed to enhance disaster response readiness and showcase the integration of various agencies involved in humanitarian assistance and disaster relief (HADR).
   • Tell me more:
     • The exercise highlighted India’s commitment to self-reliance in disaster management through the use of indigenous HADR equipment.
     • In addition to ‘Sanyukt Vimochan 2024,’ the Indian Armed Forces also conducted a nine-day exercise called ‘Poorvi Prahar,’ showcasing joint military capabilities.
     • Advanced weaponry used during these exercises included M-777 Howitzers, P-8I aircraft, swarm drones, and the Chinook helicopter.
       Source: ANI

Science and Technology

1. New Exoplanet TOI-6651b Discovered by Indian Scientists
   • What:
     • An international team of scientists led by the Physical Research Laboratory (PRL) in Ahmedabad has discovered a new exoplanet named TOI-6651b.
   • Why:
     • The discovery aims to enhance understanding of planetary formation and the characteristics of planets located in extreme environments.
   • Tell me more:
     • TOI-6651b is a sub-Saturn class planet, five times larger and 60 times heavier than Earth.
     • The planet’s core is composed of about 87% metals like iron, while the outer layer consists of hydrogen and helium.
     • Its surface temperature is around 1,200 degrees Celsius, making it uninhabitable.
     • The discovery was made using the PRL Advanced Radial Velocity Abu Sky Search (PARAS-2) spectroscope on PRL’s 2.5m telescope at Mount Abu.

Source: IE

Awards

1. Elon Musk Tops Fortune’s Most Powerful People List
   • What:
     • Elon Musk has been named the most powerful person in business for 2024 by Fortune magazine.
   • Why:
     • The list recognizes leaders who have significantly impacted their industries and the world.
   • Tell me more:
     • Following Musk, Jensen Huang of Nvidia is ranked second, and Satya Nadella of Microsoft is third.
     • Other notable figures include Warren Buffett, Jamie Dimon, and Tim Cook of Apple.
     • Mukesh Ambani of Reliance Industries is the only Indian on the list, ranked 12th.
     • Sundar Pichai of Google is ranked 10th, and Jeff Bezos of Amazon is 11th.
       Source: ET
2. Indira Gandhi Prize Awarded to Barenboim and Abu Awwad
   • What:
     • The Indira Gandhi Prize for Peace, Disarmament and Development for 2023 was awarded to Daniel Barenboim and Ali Abu Awwad.
   • Why:
     • The award recognizes their efforts to promote peace and understanding between Israeli and Palestinian people through music and dialogue.
   • Tell me more:
     • The award ceremony was held virtually on Indira Gandhi’s birth anniversary.
     • It was presented by a jury led by former Chief Justice of India T S Thakur.
     • Daniel Barenboim is a renowned classical pianist and conductor known for using music to foster harmony in West Asia.
     • Ali Abu Awwad is a Palestinian peace activist dedicated to achieving a peaceful resolution to the Middle East conflict.
       Source: BS

Important Days

1. International Day for Tolerance: November 16
   • In 1996, the UN General Assembly adopted 16 November as International Day for Tolerance.
     Source: UN

Sports

1. Wriddhiman Saha Announces Retirement from Cricket
   • Veteran Indian wicketkeeper-batter Wriddhiman Saha has announced his retirement from cricket.
   • Saha decided to retire after the ongoing Ranji Trophy season, marking the end of his 15-year cricket career.
     Source: ET
2. Inaugural Kho Kho World Cup to Be Held in India
   • What:
     • The inaugural Kho Kho World Cup will take place in India in 2025, featuring 24 countries from six continents.
   • Tell me more:
     • The Kho Kho Federation of India (KKFI) plans to promote the sport in 200 schools across 10 cities before the World Cup.
     • Kho Kho has its origins in India and is played by 54 countries worldwide.
       Source: NOA
3. Mahimkar and Prisha Shah win at the Maharashtra State Open Badminton
   • Harshit Mahimkar and Prisha Shah won the men’s and women’s singles as well as boys’ and girls’ U-17 singles titles respectively in the Maharashtra State Open Badminton Tournament.
     Source: TW
4. All Living Things Environmental Film Festival Begins
   • What:
     • The All Living Things Environmental Film Festival (ALT EFF) will open on November 22 and run until December 8 in Mumbai.
   • Why:
     • The festival aims to promote environmental awareness through cinema and highlight global climate issues.
   • Tell me more:
     • This year, ALT EFF will screen over 65 films, including documentaries, fiction, and animated films focused on environmental and socio-ecological topics.
     • The festival was launched in 2020 in Panchgani, Maharashtra, and has become a leading platform for environmental storytelling in India.
     • It features a hybrid format with both in-person screenings and virtual events to engage a wider audience.

Source: TH

Appointments

1. Tayyab Ikram Re-elected as FIH President
   • Tayyab Ikram has been re-elected as the President of the International Hockey Federation (FIH) during the 49th FIH Statutory Congress in Muscat, Oman.
     Source: FIH
2. Arvinder Singh Sahney Appointed Chairman of Indian Oil
   • Arvinder Singh Sahney has been appointed as the new chairman of Indian Oil Corporation (IOC).
   • IOC is India’s largest oil firm, refining crude oil into products like petrol, diesel, and LPG.
     Source: BS

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