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NATIONAL AFFAIRS
Union Minister Dr. Virendra Kumar Inaugurated ‘Shilp Samagam Mela 2024’ & ‘TULIP’ brand
Union Minister Dr. Virendra Kumar, Ministry of Social Justice & Empowerment (MoSJ&E) has inaugurated the ‘Shilp Samagam Mela 2024’ at the Dilli Haat, New Delhi, Delhi. The fair was organized from 5th -15th November 2024.
- He also inaugurated the ‘TULIP’ (Traditional Artisans’ Upliftment Livelihood Programme) brand, a Digital Platform for Craft and Community Empowerment.
About Shilp Samagam Mela 2024:
i.The mela was organised by the Corporations under the MoSJ&E- National Scheduled Castes Finance and Development Corporation (NSFDC), National Backward Classes Finance and Development Corporation (NBCFDC), and National Safai Karamcharis Finance and Development Corporation (NSKFDC).
ii.This initiative offers an opportunity to honour the skills and cultural diversity of artisans.
iii.During the mela, the ‘Rang Paridhan’ programme showcased uniforms made from the products of artisans. Under this initiative, the corporations under MoSJ&E will use uniforms crafted by local artisans for their personnel.
About TULIP:
i.TULIP aims to empower marginalized artisans with a platform for global exposure to sell their products through e-marketing.
ii.The artisans from Scheduled Castes (SC), Other Backward Classes (OBC), sanitation workers, and Persons with Disabilities(PwD) will have an e-platform to market their products under the TULIP brand.
iii.TULIP Digital Platform for electronic commerce(e-commerce) will provide a platform for economic self-reliance and global exposure to artisans via an e-marketplace.
Points to note:
i.During the event, the Union Minister highlighted digital initiatives like ‘PM-SURAKSHA Portal’ and ‘PM-DAKSH Portal’, launched by Prime Minister (PM) Narendra Modi. These initiatives enable targeted groups to access subsidized loan schemes and skill development training through online platforms.
ii.Through initiatives like the ‘Vishwas Yojana’ and ‘Namaste Yojana’, financial assistance and protection are being extended to the SC, Backward Class(BC), and sanitation worker communities.
About National Scheduled Castes Finance and Development Corporation(NSFDC):
The NSFDC was established in 1989 by the Government of India(GoI) under the Companies Act 1956. It is functioning under the Ministry of Social Justice & Empowerment (MOSJ&E)
Chairman & Managing Director(CMD)- Rajan Sehgal
Headquarters – New Delhi(Delhi)
Cairn Oil & Gas joins UN’s Methane Reduction Initiative, 1st in India
Cairn Oil & Gas, a Vedanta Group company, has became the first oil and gas producer in India to join the United Nations Environment Programme’s (UNEP) Oil & Gas Methane Partnership (OGMP) 2.0 after inking MoU with UNEP in Abu Dhabi, United Arab Emirates (UAE).
- This initiative, announced on November 4, 2024, aims to address methane emissions within the oil and gas sector, aligning with global efforts to combat climate change.
- The partnership aligns with Cairn’s goal to decarbonize operations, advancing to Net Zero Carbon by 2030.
About the MoU:
i.Under the MoU, Cairn will establish a 5-year target for reducing methane emissions and will transparently report its progress.
ii.This will enhance the company’s ability to analyze its emission profiles and implement effective mitigation strategies.
Key Points:
i.The OGMP 2.0 initiative encompasses over 40% of global oil and gas production, providing a robust framework for measurement, reporting, and verification (MRV) of methane emissions.
ii.This collaboration will contribute to the broader goals of the Global Methane Pledge, which aims for a 30% reduction in global methane emissions by 2030.
Railway Protection Force Launches ‘Digital Memorial of Valour’ to Honour Brave Martyrs
Railway Protection Force(RPF), a paramilitary force under Indian Railways(IR), launched a ‘Digital Memorial of Valour’, a website to digitally adorn a martyr’s photo with a wreath & candle, during an event held in New Delhi, Delhi.
- This innovative website is part of the Martyr’s Week Observance following the Police Commemoration Day on 21st October, 2024.
- This will honour the sacrifices of its courageous personnel. This digital platform will enable the citizens to pay their respects to the martyrs of the Force.
INTERNATIONAL AFFAIRS
QS Asia University Rankings 2025: IIT Delhi ranked 44th & China’s Peking University topped
On 6th November 2024, Quacquarelli Symonds (QS) released the 16th edition of the ‘QS World University Ranking Asia 2025‘ which showed that Indian Institute of Technology Delhi (IITD) (75.4), New Delhi(Delhi), secured the top spot in India with the 44th position (from 46th in 2024) on the list.
- It was followed by Indian Institute of Technology Bombay (IITB) (73.1), Mumbai, Maharashtra at the 48th position and the Indian Institute of Technology Madras (IITM) (69.6), Chennai, Tamil Nadu at the 56th position and are the top 3 universities from India featured in the list.
- Peking University, Beijing(China) secured 1st spot in the QS Asia University Rankings 2025 with an overall score of 100 followed by the University of Hong Kong, Hong Kong(China) and the National University of Singapore (NUS), Singapore on the 2nd and 3rd spot respectively.
About Quacquarelli Symonds (QS)
Chief Executive Officer (CEO) – Jessica Turner
Headquarters – London, the United Kingdom (UK)
Founded– 1990
>> ReadFull News
WHO Report: India Records 17.7% Decline in TB Incidence from 2015 to 2023
According to the World Health Organisation (WHO)’s Global Tuberculosis (TB) Report 2024 released on 29th October 2024, India has registered a 17.7% decline in TB incidence from 237 per lakh population in 2015 to 195 in 2023, which is more than twice the global average decline of 8.3%.
- The report has acknowledged the significant progress made by India in bridging the gap of missed TB cases since 2015.
i.As per the report, the net reduction in the global number of deaths caused by TB between 2015 and 2023 was 23%, which is almost 1/3rd of the WHO End TB strategy milestone of a 75% reduction by 2025.
ii.The report showed that globally, the number of deaths caused by TB has declined in 2023, from 1.32 million (in 2022) to 1.25 million (in 2023).
About World Health Organisation (WHO):
Director General (DG)- Dr. Tedros Adhanom Ghebreyesus
Headquarters- Geneva, Switzerland
Established – 7th April, 1948
>> ReadFull News
BANKING & FINANCE
IDFC FIRST Bank launches real-time tracking for international money transfers
Mumbai (Maharashtra) based IDFC First Bank Limited (Infrastructure Development Finance Company) in collaboration with La Hulpe(Belgium) based Society for Worldwide Interbank Financial Telecommunication (SWIFT), has launched a new feature that enables customers to track the status of their international money transfers in real-time.
- With this service, IDFC First Bank becomes the first Indian lender to offer live tracking for cross-border transactions. It is available on both the bank’s mobile application(app) and internet banking platforms.
- It will provide updates on whether the funds are in transit or credited to the recipient’s bank. It also alerts customers to issues like incorrect recipient details, helping them resolve problems quickly.
Key Points:
i.To meet customers’ growing expectations for transparency, IDFC First Bank’s SWIFT Global Payments Innovation (GPI) integration allows users to monitor the status of their international transfers in real time.
ii.The bank offers this real-time tracking service for free under its “Pay Abroad” feature, with no extra processing fees.
iii.The service is designed for transactions allowed under the Reserve Bank of India’s (RBI) Liberalised Remittance Scheme (LRS), for purposes such as supporting close relatives, gifting, education, medical needs, and investing in overseas property or stocks.
- Under LRS, each resident Indian can remit up to USD 250,000 per Financial Year (FY).
iv.It reflects IDFC First Bank’s dedication to enhancing customer satisfaction through modern and efficient banking solutions.
- For Indian customers accustomed to real-time updates on domestic digital payments via platforms like Unified Payments Interface (UPI) and Immediate Payment Service (IMPS), this service fills a notable gap in international transactions. Previously, customers lacked such traceability for funds sent abroad.
About IDFC First Bank Limited:
IDFC FIRST Bank, a private Indian bank, was formed by merging the banking arm of Infrastructure Development Finance Company (IDFC) with Capital First, a non-banking financial institution. On October 1, 2024, it became privatized through a reverse merger with its parent company, IDFC Ltd.
Managing Director and Chief Operating Officer (MD & CEO)-V. Vaidyanathan
Headquarters– Mumbai, Maharashtra
Founded– 2015
WB Approves USD 200 Million Loan for Climate-Resilient Agricultural Transformation project in Kerala
The World Bank (WB) has approved a USD 200 million (Rs 1,655.85 crore) loan to support Kerala’s agricultural sector through the Kerala Climate Resilient Agri-Value Chain Modernization (KERA) Project.
- The loan is provided by the WB’s lending arm International Bank for Reconstruction and Development (IBRD)with a 23.5-year term and a 6-year grace period.
- This initiative will help farmers adopt climate-smart practices, improve market access, and promote women-led small businesses in agriculture.
Key Points:
i.The WB has approved Rs 2,365.5 crore project submitted by Kerala’s State Agriculture Department during a meeting of the WB executive directors held on 31 October 2024.
ii.The project has been sanctioned Rs 1,655.85 crore (USD 200 million) in assistance from the World Bank, with the Kerala state government contributing Rs 709.65 crore.
Note: As a leading producer of spices like cardamom, vanilla, and nutmeg, Kerala accounts for approximately 20% of India’s total agri-food exports.
About KERA Project:
i.The KERA Project aims to directly benefit 400,000 farmers with climate-smart initiatives, while an additional 1 million farmers are expected to receive indirect benefits.
- Key crops like coffee, cardamom, and rubber will be replanted with climate-resistant varieties. Additionally, farmers will receive training and resources to cope with climate challenges such as floods and forest fires.
ii.The KERA Project is structured into five main components: Climate Resilience in Agriculture; Enhancing Small-holder Commercialisation for Value Addition; Strengthening Agribusiness and Food Systems; Project Management Unit and Contingent Emergency Response Component.
iii.A key feature of the KERA Project is to focus on empowering women-led agricultural businesses. Currently, women own just 23% of Kerala’s small businesses.
- Around USD 9 million (Rs 76 crore) will be used to support small businesses and food processing activities, with new rural food parks being developed to provide infrastructure.
iii.The KERA Project will help connect farmers with agribusinesses and buyers through productive partnerships. This will improve market access and ensure fair prices for farmers.
About Kerala:
Chief Minister (CM)- Pinarayi Vijayan
Governor– Arif Mohammed Khan
Capital- Thiruvananthapuram
Wildlife Sanctuaries – Periyar Wildlife Sanctuary, Aralam Wildlife Sanctuary
About World bank (WB):
President – Ajay Banga
Headquarters – Washington, D.C., the United States of America (USA)
Founded – 1944
AWARDS & RECOGNITIONS
SBI named Best Bank in India for 2024 by Global Finance Magazine
The Global Finance Magazine of the United States of America (USA) has recognised the State Bank of India (SBI) as the Best Bank in India for 2024 during its 31st Annual Best Bank Awards event held on the sidelines of Annual Meetings of the IMF(International Monetary Fund (IMF) and the World Bank in Washington, the USA.
- CS Setty, Chairman of SBI, received the award in recognition of the bank’s commitment to providing exceptional services and promoting financial inclusion nationwide by winning the trust of its customers.
- The Global Finance’s Best Bank Awards has the standard for evaluating the world’s financial institutions.
APPOINTMENTS & RESIGNATIONS
VD Chafekar appointed as 7th ED of ReCAAP ISC for 3 years
The Governing Council of Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia Information Sharing Centre (ReCAAP ISC), Singapore has appointed Additional Director General (Retd) VD Chafekar, the former senior officer of the Indian Coast Guard(ICG) as its 7th Executive Director(ED).
- He will replace Krishnaswamy Natarajan, who serves as the 6th ED of ReCAAP ISC.
- He has been appointed as Executive Director from April 1, 2025, to March 31, 2028, to foster regional maritime security and cooperation, in line with the vision for a safer & more secure Indo-Pacific region.
About VD Chafekar :
i.He served as the Additional Director General (ADG) of Western Seabord. Previously he helmed the Western Region for about 18 months before being promoted.
ii.He has been honoured with the President’s Tatrashak medal and Tatrakshak medal for his service to the country.
About ReCAAP ISC:
i.ReCAAP ISC, established in 2006, is the first regional government-to-government agreement to promote and enhance cooperation against piracy and armed robbery at sea in Asia.
ii.It plays a vital role in fostering information exchange, capacity building, and joint efforts to tackle maritime security issues across the region.
ACQUISITIONS & MERGERS
Fintech startup Slice completes merger with NESFB to Operate as Single Entity
Slice, the Bengaluru (Karnataka) based fintech start-up, has completed its merger with Guwahati (Assam) based North East Small Finance Bank (NESFB), following the receipt of necessary approvals from shareholders and the Reserve Bank of India (RBI), effective from 27th October 2024.
- The entity will roll out a range of banking products and services, including savings accounts, fixed deposits, and credit offerings and aims to strengthen the bank’s presence in northeastern regions of India.
- The entity will establish a technology-driven bank with an improved financial position, aimed at growing operations, strengthening risk management, and enhancing the customer experience.
Note: The National Company Law Tribunal (NCLT) approved the merger arrangement after receiving the approval from Competition Commission of India (CCI), the Registrar of Companies (RoC), and the Regional Director (RD), as well as No Objection Certificates (NOC) from RBI and the Income Tax Department (ITD).
SCIENCE & TECHNOLOGY
Russian Rocket Launches 55 Satellites including 2 Iranian satellites into Orbit
On 5th November 2024, Russia launched 55 satellites into orbit, including Iran’s two domestically manufactured satellites Kowsar and Hodhod from Vostochny Cosmodrome spaceport in eastern Russia using a Soyuz-2.1b rocket.
- This is for the first time, Russia has launched privately built Iranian satellites.
- This launch was Russia’s 13th launch in 2024.
Key points:
i.The payload included 51 Russian satellites, one satellite jointly developed by Russian and Chinese teams, and another Russian-Zimbabwean satellite, along with two Iranian satellites.
ii.The rocket carried two Russian Ionosphere-M Earth observation satellites to monitor Earth’s ionosphere and space weather.
ii.The Kowsar satellite is designed for land observation and the Hodhod satellite for communications. Both satellites were designed and built by the Iranian private space company Omid Faza in Tehran, Iran.
Points to note:
i.Previously in 2022, a Russian rocket launched Khayyam, an Iranian Earth observation satellite built in Russia.
ii.Iran and Russia have strengthened their ties in various fields, including in the economic and military sectors.
iii.Iran has also sent Shahed drones to Russia under a USD 1.7 billion deal signed in late 2022. Western countries including the United States have accused Russia of using these drones in Ukraine.
About Russia:
Prime minister(PM) – Mikhail Mishustin
Capital – Moscow
Currency – Russian Ruble
Japan Launched LignoSat, World’s 1st Wooden Satellite to Test Space-Grade Wood
Japan launched ‘LignoSat’, the world’s first wooden satellite into space from National Aeronautics and Space Administration’s(NASA) Kennedy Space Center in Florida, the United States of America(USA). The satellite is scheduled to orbit the Earth for 6 months.
- The satellite was launched on an unmanned SpaceX rocket with an aim to prove that wood is a space-grade material and to understand the feasibility of timber in space.
- This 10-cubic centimeter (cm3) satellite was designed by researchers at Kyoto University and homebuilder Sumitomo Forestry in Japan.
- The satellite was sent to the International Space Station (ISS) on a SpaceX mission. The satellite will be positioned approximately 400 kilometres(Km) above Earth.
About LignoSat:
i.It is made of honoki, a kind of magnolia tree which is traditionally used to make sword sheaths.
- LignoSat is inspired by wooden aircraft, which are made without screws or glue reflecting traditional craftsmanship.
ii.The Japanese researchers conducted a 10-month experiment aboard the International Space Station (ISS) and found that honoki was the timber most suited for space applications.
iii.The team constructed LignoSat using a traditional Japanese crafts technique without screws or glue to hold the satellite together.
- The project is led by Takao Doi, a former astronaut and now a professor at Kyoto University.
iv.The satellite will measure how wood endures the extreme environment of space, where temperatures fluctuate from -100 degrees Celsius to 100 degrees Celsius every 45 minutes as objects orbit through darkness and sunlight.
v.It will also gauge timber’s ability to reduce the impact of space radiation on semiconductors.
Points to note:
i.The mini-satellite was launched to test the viability of a renewable material in future space habitation and exploration.
ii.The Doi’s team is planning for an ambitious 50-year strategy to send timber structures on the moon and mars. The spacecraft is developed with Nasa-certified wooden satellite validating wood as a space-suited material.
Advantage of Wooden satellite:
i.The metal satellites leave aluminium oxide during re-entry, while the wooden satellites will produce only minimal pollution and result in a low environmental footprint.
ii.The success of wooden alternatives will result “in the ban of metal satellites” in future.
Japan launches flagship H3 rocket Carrying Defense Satellite
Japan has successfully launched the Mitsubishi Heavy Industries (MHI) H3 rocket, carrying the Kirameki No. 3 defense satellite, from the Tanegashima Space Center, located on a southwestern island of Japan.
- The Kirameki No. 3 satellite was successfully deployed into geostationary orbit.
About Kirameki No. 3 Satellite:
i.The Kirameki No. 3 satellite is designed for military communication and intelligence gathering, using X-band technology for reliable, secure, and stable communications in all weather conditions.
ii.It will improve Japan’s military operations by enabling high-speed data transfer across the Self Defense Forces’ ground, maritime, and air units, as well as supporting international peacekeeping missions.
About H3 Rocket:
The H3 rocket, developed by Japan Aerospace Exploration Agency (JAXA) and Mitsubishi Heavy Industries, is set to replace the aging H-2A series with a more cost-effective and versatile design for both civilian and military missions. This launch marks the H3’s third consecutive successful flight after a problematic debut last year, which ended in mid-flight failure.
About Japan:
Capital– Tokyo
Currency– Japanese Yen
Prime Minister (PM)– Shigeru Ishiba
BOOKS & AUTHORS
Ashwin Fernandes presented his new book “‘Modialogue” on PM Modi’s Mann Ki Baat to Ram Nath Kovind’
Dr. Ashwin Fernandes, Executive Director of the United Kingdom (UK)-based QS World ranking, presented his new book titled “Modialogue: Conversations for a Viksit Bharat” to Ram Nath Kovind, former President of India. The book was launched at the Pradhanmantri Sangrahalaya in New Delhi, Delhi.
- The book highlights the widespread influence of Prime Minister(PM) Narendra Modi’s renowned radio show, “Mann Ki Baat”.
- The title “Modialogue”, a fusion of ‘Modi‘ and ‘dialogue‘ highlights the unique communication approach that has bridged the gap between citizens, offering them a platform to voice their aspirations, concerns, and dreams for a brighter future.
- The book also includes an analysis of a nationwide survey with responses from over 4,200 people, highlighting the overwhelmingly positive impact of Mann Ki Baat across diverse demographics.
IMPORTANT DAYS
Public Service Broadcasting Day 2024 – November 12
Public Service Broadcasting Day(PSBD), also known as Jan Prasaran Diwas, is annually observed across India on 12th November to commemorate the first and only visit of Mahatma Gandhi to the studio of the All India Radio (AIR), now known as Akashvani in New Delhi(Delhi), in 1947.
Background:
i.After the partition of India and Pakistan, Mahatma Gandhi visited the AIR studios at Broadcasting House, New Delhi to address the refugees (from Pakistan) who were camped in Kurukshetra, Haryana.
ii.An event was organised on 12th November 1997 to commemorate 50 years of Gandhi’s visit to AIR.
iii.In 2001, 12th November of every year was declared as Public Service Broadcasting Day.
About All India Radio (AIR):
In 1936, the Indian State Broadcasting Service was transformed into AIR.
Director General(DG)– Dr Pragya Paliwal Gaur
Headquarters– New Delhi, Delhi.
>> ReadFull News
World Pneumonia Day 2024 – November 12
World Pneumonia Day is observed every year on November 12 to raise awareness and preventive measures about pneumonia. This respiratory illness primarily affects young children under the age of five and the most vulnerable elders.
The theme of World Pneumonia Day 2024 is “Every Breath Counts: Stop Pneumonia in Its Track”.
Background:
i.The 1st World Pneumonia Day was observed on 12th November 2009 by the Global Coalition against Child Pneumonia, which included UNICEF, WHO, and Save the Children
ii.The campaign aims to raise awareness about Pneumonia, the leading cause of child mortality worldwide, despite being both preventable and treatable.
>> ReadFull News
World Kindness Day 2024 – November 13
World Kindness Day (WKD) was annually observed across the globe on 13th November to encourage people to adopt empathy, kindness, and selflessness by promoting actions that encourage compassion, understanding, and goodwill around the world.
- 13th November 2024 marks the observance of 27th WKD.
Background:
i.The idea of WKD was introduced in 1997 when the World Kindness Movement (WKM), a group of Non-Governmental Organizations (NGOs) focused on kindness, hosted the first conference in Tokyo, Japan to unite like-minded organizations worldwide.
- After the formation of the WKM, WKD was established as an annual observance in 1998.
ii.The first-ever WKD was observed on 13th November 1998.
Significance:
i.The annual observance reminds us that every act of kindness helps to create a more united and compassionate society, fostering a world where empathy and kindness are valued every day.
ii.It is observed in many countries including the United States of America(USA), Canada, Japan, Australia and the United Arab Emirates (UAE).
World Kindness Movement (WKM):
i.World Kindness Movement (WKM) was formed at a conference held in Tokyo on 20th September 1997.
ii.The WKM, is now recognised as the leading global organisation for kindness with no political or religious affiliations, aims to encourage people to be more kind by uniting countries to build a kinder world.
iii.The WKM includes representatives over 27 countries and registered as an NGO in Switzerland in 2019.
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