Current Affairs 4 November 2023

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NATIONAL AFFAIRS

ECI signs MoU with MoE to bring Electoral Literacy to Classrooms across India On November 2, 2023, a Memorandum of Understanding (MoU) was signed between the Election Commission of India (ECI) and the Ministry of Education (MoE) to develop an institutional framework to formally incorporate electoral literacy into the school and college education system.

• This MoU will extend ECI’s flagship Systematic Voters’ Education and Electoral Participation (SVEEP) in schools and colleges.
• It envisages instilling electoral literacy in the young people through the educational institutions.

Reason behind this Partnership:
During the 2019 General election to Lok Sabha, almost 297 million electors out of 910 million did not cast their votes. The voting percentage of that election was 67.4%.
This initiative was taken up to improve the voting percentage.
This partnership has been made to empower young people by bridging the knowledge gap among the youth and first-time voters.

• Notably, India has one of the  youngest populations in the world.

Key Points:
i.Under this MoU, there will be systematic inclusion of voter education and electoral literacy into the curriculum, starting from classes 6 to 12 in all schools.
ii.This includes structured curricular, co-curricular, and extracurricular activities, all of which will help in preparing future and new voters for greater electoral participation.
iii.Under the MoU, National Council of Educational Research and Training(NCERT) will include content on electoral literacy in school textbooks and advise state education boards to follow the same.
About Election Commission of India (ECI):
It is a constitutional body established by the Constitution of India to conduct and regulate elections in India. It operates under the authority of Constitution per Article 324
Chief Election Commissioner– Rajiv Kumar
Headquarters– New Delhi, Delhi
Establishment– 1950

Indian Navy Decommissions Ilyushin-38 Sea Dragon Aircraft; IAF phased out MiG-21 squadron in RajasthanOn 31st October 2023, Ilyushin (IL)-38 Sea Dragon (SD) long-range maritime patrol aircraft of the Indian Navy(IN) was decommissioned after 46 years of service to the nation, at INS Hansa at Dabolim, Goa.
Key People:  The IL-38 SD was decommissioned in the presence of Chief of the Naval Staff(CNS) Admiral R. Hari Kumar and veteran officers and sailors of the IL-38 squadron.
Key Points:
i.Indian Naval Air Squadrons (INAS) 315 was commissioned on 1st October 1977 with the induction of IL-38 aircraft.
ii.The aircraft, IL-38 SD, was also featured in the 2023 Republic Day Flypast at New Delhi, Delhi.
iii.Two IL-38 SD aircraft will be stationed permanently at the National Maritime Heritage Museum, Lothal, Gujarat and at Nipani in Karnataka
iv.The long-range maritime patrol duties previously carried out by the IL-38 will now be taken over by Boeing-manufactured P-8I aircraft and MQ-9B Sea Guardian drones.
P-8I aircraft and MQ-9B Sea Guardian drones:
i.The Indian Navy has placed an order for eight P-8I aircraft in 2009 and the first aircraft entered service in 2013. An additional four were ordered in 2016 and were all delivered by December 2021, bringing the total to 12 aircraft.
ii.In 2020, the IN has been operating two MQ-9B Sea Guardian drones on lease from General Atomics, drone manufacturer.
IAF phases Mig-21 Squadron Based in Rajasthan
On 31st October 2023, the Indian Air Force (IAF) has phased out another Mig-21 fighter squadron, No. 4  squadron, known as ‘OORIALS’, based in Uttarlai, Rajasthan. The squadron will be re-equipping it with Sukhoi-30 MKI (SU-30MKI) aircraft.

• No. 4 Squadron has been operating the MiG-21 since 1966.
• The IAF’s MiG-21 Bison aircraft made their farewell appearance in the skies above Uttarlai, Barmer district, Rajasthan.

Note: In 2022, the No. 51 Squadron based in Srinagar, Jammu & Kashmir was phased out.
Key points:
The IAF has set the target of phasing out all the squadrons of the Mig-21 Bison by 2025 and will be replaced by the indigenous Light Combat Aircraft (LCA)-MK1A.
At present, only Two Mig-21 squadrons are there, one based at Bikaner and another at Suratgarh in Rajasthan.
Additional info: The aircraft has been dubbed(nick name) “the flying coffin” and “the widow-maker” due to its frequent crashes.

INTERNATIONAL AFFAIRS

Bhutan Becomes 1st Country to Fully Sterilise its Entire Street Dogs Population
Bhutan became the first country in the world to completely sterilize and vaccinate its entire stray dog population across Bhutan.

• ‘National Dog Population Management and Rabies Control Project’ is a 14-year-long project that was launched in 2009 and completed in 2023.
• Under the project, over 150,000 stray dogs were sterilized and 32,000 pet dogs were microchipped.
• The program was implemented by a global animal charity called Humane Society International (HSI).

About Bhutan:
Prime Minister(PM)– Lotay Tshering
Currency– Bhutanese Ngultrum
Capital– Thimphu

BANKING & FINANCE

ICICI Bank Enables Transactions to Merchant QR Code Using its Digital Rupee AppICICI Bank Limited has enabled its customers to pay to any merchant QR(Quick Response) code using the “Digital Rupee by ICICI Bank”, the digital rupee (e₹) app of ICICI Bank.

• ICICI bank achieved this by making its digital rupee app UPI (Unified Payments Interface) interoperable.

Benefits:
i.The move eliminates the need for mandatory on-boarding procedure for the merchants.

• The merchants can now accept digital rupee payments on their existing UPI QR code.

ii.This also provides flexibility & convenience to customers and exponentially expands the avenues for payments.
iii.The new feature also expands the usage of digital rupee.
What is Digital Rupee?
i.Digital Rupee, also known as Central Bank Digital Currency (CBDC), is the
tokenised digital version of the Indian Rupee issued by RBI. This is a legal tender similar to the sovereign currency (Indian rupee).
ii.RBI launched the pilot project of CBDC (Digital Rupee) on 1st December 2022
Note: 
ICICI Bank was one of the banks to be chosen to take part in the phase1 of RBI’s CBDC pilot project.

• Other banks includes State Bank of India (SBI), YES Bank Limited and IDFC FIRST Bank Limited.

About ICICI Bank Limited:
Managing Director(MD) and Chief Executive Officer (CEO) – Sandeep Bakhshi
Headquarters – Mumbai, Maharashtra
Established in – 1994
Tagline – Hum Hai Na Khayal Apka

AU Small Finance Bank &  ixigo Launches Premium Co-Branded Travel Credit CardAU Small Finance Bank (AU SFB) along with a travel platform ixigo (Le Travenues Technology Limited) announced the launch of their premium ixigo-AU co-branded credit card which aims to enhance the travel experiences of modern travelers in semi-urban regions.

• The card is a first-of-its-kind value proposition across all travel verticals such as flights, trains, buses & hotels.

About the Partnership:
i.The partnership combines AU SFB’s financial expertise and ixigo’s reach in tier 2 and tier 3 markets.
ii.These two Bharat-focused brands address the evolving needs of modern travellers, who seek flexibility, convenience, and value.
Background:
i.The World Travel & Tourism Council (WTTC) anticipates a substantial recovery in the travel industry, projecting a remarkable year-on-year growth of 20.7% in 2024, surpassing the levels seen before the pandemic.
ii.This growth reflects a strong trend in spending by Indian tourists in 2023.
About Co-branded Credit Card:
i.It is the only online travel agency (OTA) to give access to a maximum of

• 8 railway lounges per calendar year (without any spending criteria)
• 8 domestic airport lounges per calendar year (without any spending criteria)
• 1 international lounge per year (Priority Pass available on request).

ii.The card offers upto 10% discounts on flight, bus & hotel bookings made through the ixigo platform.
Annual Fee:
i.The nominal annual fee of the card for the first year is Rs. 999 (excluding Goods and Services Tax (GST)).

• The fee will be waived by spending Rs.1000 in the initial 30 days.

ii.The annual fee for the second year will also be waived with a minimum spend of Rs. 1 Lakh.
About AU Small Finance Bank Limited(Ltd):
Managing Director(MD)  & Chief Executive Officer (CEO) –  Sanjay Agarwal
Headquarters – Jaipur, Rajasthan
Established in – 1996
About ixigo (Le Travenues Technology Limited):
Co-Founders – Aloke Bajpai & Rajnish Kumar
Headquarters – Gurugram, Haryana
Established in – 2007

Russia Makes it Easier for Indians to Open & Use Bank Accounts
The Russian government has simplified the process for Indian nationals to open and operate bank accounts in the financial institutions of Russia.

• Upon arrival in Russia, Indian nationals will be able to obtain a bank card from a partner Russian bank and initiate financial transactions.
• This will benefit Indian tourists and 15,000 Indian students studying in Russia.
• To get the guidance, Indians can approach an Indian bank that has a partnership agreement with the Central Bank of the Russian Federation (Bank of Russia).

Note: Previously, Russia introduced electronic visas(e-visa) for Indian passport holders with effect from 1st August 2023.

ECONOMY & BUSINESS

BPCL & GAIL Inks Rs 63,000 cr Pact to Supply Propane for India’s 1st PDH Plant in MaharashtraBharat Petroleum Corporation Limited (BPCL) and GAIL (India) Limited, India’s leading natural gas company, have signed a 15-year agreement worth Rs 63,000 crore to supply propane to GAIL’s Propane Dehydrogenation and Polypropylene (PDH-PP) Plant project in Usar, Maharashtra.

• GAIL’s upcoming Usar-based PHD-PP plant represents India’s 1st PDH plant, which is likely to launch operations in 2025.

Note:

• BPCL and GAIL (India) Limited are both Maharatna Public Sector Undertakings (PSUs) under the Ministry of Petroleum & Natural Gas (MoP&NG).
• GAIL (India) Limited was formerly known as Gas Authority of India Limited.

Key Signatories:
DV Mamadapur, Executive Director (ED) (LPG), BPCL, and Kamlesh Sharma, ED Marketing Retail, GAIL, signed the agreement, in the presence of Sukhmal Jain, Director (Marketing) at BPCL, and Sanjay Kumar, Director (Marketing), GAIL.
Capacities of BPCL and GAIL:
i.Under the agreement, BPCL will provide GAIL with 600 kilotonnes per annum (KTPA) of propane, a critical petrochemical feedstock from its Liquefied Petroleum Gas (LPG) import facility in Uran (Maharashtra).
ii.GAIL’s Usar plant is expected to have a capacity of 500 KTPA, with propylene production seamlessly integrated into a polypropylene (PP) plant of equal capacity.
iii.BPCL’s LPG facility at Uran is capable of handling 1 million tonnes per annum (MMPTA) of LPG imports and is expanding to accommodate 3 MMTPA of propane and butane imports.
Note:

• The demand for polypropylene is projected to reach 6.3 million tons by 2025, up from 4.9 million tons in 2020.
• Earlier in 2023, GAIL acquired JBF Petrochemicals Ltd, a private-sector chemical company through bankruptcy proceedings, rebranding it as GAIL Mangalore Petrochemicals Ltd.

About Bharat Petroleum Corporation Limited (BPCL):
Chairman & Managing Director (CMD) – G Krishnakumar
Headquarters– Mumbai, Maharashtra
Established on– November 3, 1952
About GAIL (India) Limited:
Chairman & Managing Director (CMD)- Sandeep Kumar Gupta
Headquarters– New Delhi, Delhi
Incorporated in– 1984

AWARDS & RECOGNITIONS

Social Worker Deenanath Rajput from Bastar receives Rohini Nayyar prize 2023
The Software engineer-turned-social worker Deenanath Rajput (33) from Jagdalpur, Bastar, Chhattisgarh has won the second edition of Rohini Nayyar prize 2023 for an Outstanding Contribution to Rural Development. The award was presented by Nand Kishore(NK) Singh who is the Chairman of the Fifteenth Finance Commission.

• The prize was announced at the function which was held at India International Centre(IIC) in New Delhi, Delhi.

About the Award:
i.The award was instituted by Nayyar Foundation in 2022, in the memory of former bureaucrat Dr Rohini Nayyar IAS.
ii.The award also comes with a citation and a trophy with a cash prize of Rs.10 lakhs.
iii.The award is annually presented to recognise the outstanding contribution of an individual (under the age of 40) towards rural development.
iv.Sethrichem Sangtam received the first edition of Rohini Nayyar prize in 2022.

• He helped 1,200 marginalised farmers in Eastern Nagaland to triple the incomes.

About Deenanath Rajput:
i.Deenanath Rajput worked for the upliftment of of over 6,000 tribal women in Bastar, Chhattisgarh, a region known for its challenges, including Naxalite activities.
ii.For that purpose, he founded Bhumgadi Mahila Krushak Producer Company Limited in 2018.

• It is a Farmer Producer Organization (FPO) run by women in Naxal-hit areas.

About Rohini Nayyar:
i.She was born in 1944 and passed away in October 2021.
ii.She is an Indian Administrative Services (IAS) officer of 1969 batch  and served in the Uttar Pradesh(UP) cadre for five years.
iii.She is a well-known economist and served as a principal adviser at the erstwhile Planning Commission in 2004.

• She is associated with Planning Commission from 1987 onwards.

iv.She was associated with several rural employment generation program including Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).

UNEP Champions of the Earth 2023: Honours Solutions to Eliminate Plastic PollutionThe United Nations Environment Programme (UNEP) has announced its 2023 Champions of the Earth, the United Nations(UN)’s highest environmental honour to recognise individuals, groups, and organizations whose actions have a transformative impact on the environment.

• 2023 Laureates: Josefina Belmonte, Mayor of Quezon City (Philippines); Ellen MacArthur Foundation (United Kingdom); Blue Circle (China); José Manuel Moller (Chile); and Council for Scientific and Industrial Research (CSIR) (South Africa).
• The 2023 laureates are implementing solutions and policies to eliminate plastic pollution.

About United Nations Environment Programme (UNEP):
Executive Director– Inger Andersen (Under-Secretary-General of the United Nations)
Headquarters– Nairobi, Kenya
Established in– 1972
>> Read Full News

10th Edelgive Hurun India Philanthropy List Released; Shiv Nadar Tops i.On November 2, 2023, Hurun Research Institute and EdelGive released the 10th annual ranking of Edelgive Hurun India Philanthropy List 2023 in which Shiv Nadar (78) of HCL Technologies retained the title of ‘India’s Most Generous‘ for the 3rd consecutive year as he donated Rs 2,042 crore during the FY2022-23.
ii.Out of his total donation, Rs 1,774 crore for Arts and Culture and Education.
iii.Azim Premji, founder chairman of Wipro, is ranked 2nd, as he donated Rs 1,774 crore and Mukesh Ambani, Chairman & Managing Director of Reliance Industries limited(RIL), is ranked 3rd with a donation of Rs 376 crore.
iv.The list comprises 119 philanthropists who cumulatively donated Rs 8445 crores. Out of these, 25 are new entrants.
v.The list assessed the donations measured by the value of cash and cash equivalents from April 1, 2022 to March 31, 2023.
About Hurun India:
MD & Chief Researcher- Anas Rahman Junaid
Headquarters– Mumbai, Maharashtra
>> Read Full News

APPOINTMENTS & RESIGNATIONS

Justice Rajendra Menon Re-Appointed as Chairman of AFT
Former Chief Justice(CJ) of Delhi High Court(HC), Rajendra Menon has been re-appointed as Chairman of the Armed Forces Tribunal (AFT) for four years till 6th June, 2027. 

• He was initially appointed to the post in 2019 succeeding Justice Virender Singh.

AFT is a military tribunal of India established in 2009 under the Armed Forces Tribunal Act, 2007.

• This was formed to provide for the adjudication or trial of disputes and complaints with respect to commission, appointments, enrolment and conditions of service in respect of persons subject to the Army Act, 1950, the Navy Act, 1957 and the Air Force Act, 1950

About Rajendra Menon:
i.Rajendra Menon was appointed as additional judge of Madhya Pradesh (MP) HC in 2002 and was confirmed as a permanent judge of MP HC in 2003
ii.He was promoted as CJ of the Patna High Court in 2017 and served as CJ of Delhi High Court from 2018 to 2019.
iii. He has also served as the Welfare Commissioner for the Bhopal Gas Victims Compensation Commission(2010 to 2015).

ACQUISITIONS & MERGERS

Zurich Insurance to Acquire 51% Stake in Kotak General Insurance for Rs 4,051crKotak Mahindra Bank and Kotak Mahindra General Insurance Company have entered into definitive agreements with Zurich Insurance Company Ltd, whereby Zurich will invest approximately Rs 4,051 crore to acquire a 51% stake in Kotak General Insurance.

• Kotak General Insurance is valued at approximately Rs 8000 crore on a post money valuation.
• The transaction is expected to be completed by June 30, 2024.
• It is the single largest investment by a global strategic insurer in an Indian non-life insurer.

Key Points:
i.Morgan Stanley acts as the financial advisors to Kotak and Kotak General Insurance Company for this strategic alliance.
ii.The investment would be made through a combination of fresh growth capital and share purchase.
iii.Zurich will acquire an additional stake of 19% i.e. 70% within a period of three years from its initial acquisition.

• Till that time, Kotak Mahindra Bank will retain management control of its general insurance arm.

iv.It should be noted that the acquisition is subject to the regulatory approvals from the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (IRDAI), and the Competition Commission of India (CCI).

SCIENCE & TECHNOLOGY

Indian Army Conducts Test Firing of Rockets and Turret Guns from Prachand The Indian Army conducted the inaugural test firing of 70 mm rockets and 20 mm turret guns of its Light Combat Helicopter (LCH) Prachand in both day and night conditions.

• It was carried out by the 1st LCH squadron from the Air Force station in Likabali in Arunachal Pradesh.

About Prachand:
i.The Prachand is India’s first indigenous multi-role class combat helicopter, developed by Hindustan Aeronautics Limited (HAL). It received operational clearance in 2017.

• The Army inducted its first LCH Prachand in October 2022.

ii.Features:The 5.8-tonne twin-engine prachand can fly at a maximum speed of 268Kilometer per hour (kmph) and has a combat radius of 550 km, which can go up to a service ceiling of 6.5 kilometers (km).

• It is fitted with Shakti Engine, which is co-developed by HAL and France’s engine-maker Safran.
• It is designed to operate in deserts and mountainous areas.
• It is set to be equipped with Helina missiles, the air force version of the Dhruvastra missile, and also with a helicopter-launched anti-tank guided missile and a new air-to-air missile.

iii. Capabilities: It can carry out activities such as Combat Search and Rescue (CSAR), Destruction of Enemy Air Defence (DEAD), operations against slow-moving aircraft, and Remotely Piloted Aircraft (RPAs).

• It can also carry out high-altitude bunker-busting operations, counter-insurgency operations in the jungle and urban environments and provide support to ground forces.

Note:
In November 2023, Defence Acquisition Council (DAC) is expected to award the contract worth Rs 45,000 crore for 156 indigenous LCH, 90 for the Indian Army, and 66 for the Indian Air Force.
Additional Info:
Army Aviation Corps (AAC), an aviation arm of the Indian Army celebrated its 38th raising day on 1st November 2023.

RailTel Sets Up CoE to Provide Training on Railway Signalling & Tele Communications
RailTel Corporation of India Limited, a Miniratna (Category-I) Central Public Sector Enterprise (CPSE) under the Ministry of Railways, has set up a Centre of Excellence (CoE) to provide training in railway signalling and telecommunication systems in New Delhi, Delhi.

• The CoE aims to ensure the availability of competent and skilled manpower in the field of Railway Signalling and Telecommunications Training.

About CoE:
i.The CoE will offer a range of certification and diploma courses in collaboration with the Indian Institutes of Technology (IITs) and the Indian Institutes of Management (IIMs).
ii.Rail Edutech Private Limited is the resource partner for the CoE for providing comprehensive railway training.

• It is an All India Council for Technical Education (AICTE) approved entity.

iii.The CoE reaffirms RailTel’s commitment to advancing safety and innovation in the railway industry.

STATE NEWS

Jharkhand Cabinet Approved ‘Abua Awas Yojana’ Housing Scheme
The Jharkhand Cabinet led by Chief Minister(CM) Hemant Soren approved the ‘Abua Awas Yojna’ (AAY), a state-supported housing scheme for the poor to build 8 lakhs pucca houses for the homeless in Jharkhand in 3 phases at a total budget of Rs 16,320 crore.
Objective:
To provide three-room and 1 kitchen houses with a total area of 31 square meters to underprivileged individuals within the next two-year timeline.
Phases:

• 2 lakh houses will be constructed in the 1st phase (FY 2023-24);
• 3.5 lakh houses in the 2nd phase (FY 2024-25); and
• 2.5 lakh houses in the 3rd phase (FY 2025-26).

Features and Benefits of the scheme:
i.The government has allocated Rs 2 lakh per beneficiary, disbursed in 4 installments, significantly surpassing PMAY-Rural’s provisions.
ii.Beneficiaries can also engage in the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) and receive up to 95 unskilled man-days’ wages for construction.
Note: All houses built under AAY will be mandatorily registered in the name of the women in the beneficiary families.
Target Beneficiaries:
This comprehensive scheme targets the most marginalised segments of society, including individuals without shelter, vulnerable groups like widows, orphans, and the disabled, along with labourers, farmers, tribals, backward classes, and Dalits.
Eligibilities:

• Permanent resident of Jharkhand state.
• People living in kutcha houses;
• Homeless or unattended;
• People from Particularly Vulnerable Tribal Groups (PVTG) will be given priority;
• Families affected by any natural calamity;
• Bonded labourers who were rescued as per the legal process; and
• People who have not been made beneficiaries of any other housing schemes.

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