We are here for you to provide the important Recent and Latest Current Affairs 19 November 2024, which have unique updates of Latest Current Affairs 2024 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.
Our Current Affairs November 2024 events will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. Also, try our Latest Current Affairs Quiz and Monthly Current Affairs 2024 PDF which will be a pedestrian to crack your exams.
Read Current Affairs in CareersCloud APP, Course Name – Learn Current Affairs – Free Course – Click Here to Download the APP
Click here for Current Affairs 17 & 18 November 2024
Click here for Affairscloud Hindu Free Vocabs telegram channel
NATIONAL AFFAIRS
Finance Minister Launches MSME Cluster Outreach; Inaugurates SIDBI branches
Union Minister for Finance and Corporate Affairs Nirmala Sitharaman has launched the National Micro, Small and Medium Enterprises (MSME) Cluster Outreach Program which was jointly organized by the Department of Financial Services (DFS), Ministry of Finance, Government of India, and Small Industries Development Bank of India (SIDBI).
- The launch took place in the presence of Jitan Ram Manjhi, Union Minister for MSMEs (virtual presence from Gaya, Bihar); Pankaj Chaudhary, Union Minister of State for Finance; Sushri Shobha Karandlaje, Union Minister of State for MSMEs, in Bengaluru. Nagaraju Maddirala, Secretary, DFS; Manoj Mittal, Chairman & Managing Director of SIDBI.
- Around 150 MSME Clusters with senior bank officials of each cluster were connected virtually for the launch.
- The main aim of the MSME Outreach program was to provide easy availability of financial services and promote the growth of MSMEs across the country.
Financial Minister inaugurates New SIDBI Branches in Karnataka
i.The Union Finance Minister also virtually launched 6 new Small Industries Development Bank of India (SIDBI) Branches in Karnataka, located at Tumakuru, Raichur, Shivamogga, Kalaburagi, Mangaluru and Vijayapura, thus expanding SIDBI’s reach and financial assistance to MSMEs in these Clusters.
ii.All Scheduled Commercial Banks and NBFCs have been given a target of providing additional MSME credit of 1.54 lakh crore in the current financial year.
- Thus, the banks and NBFCs should aim at total credit growth of Rs 5.75 lakh crore, Rs. 6.21 lakh crore and Rs 7 lakh crore to MSMEs in Financial Year 2024-25, 2025-26 and 2026-27 respectively.
iii.Moreover, SIDBI signed a Memorandum of Understanding (MoU) with the Peenya Industries Association with an aim to support MSMEs through capacity building, credit facilities, and knowledge-sharing.
iv.Four Nari Shakti Branches of Union Bank of India at Bengaluru (Karnataka), Chennai (Tamil Nadu), Jaipur (Rajasthan), and Visakhapatnam (Andhra Pradesh) and the Learning Centre of Canara Bank at Bagaluru, Bengaluru for empowering women entrepreneurs.
v.Sanction letters to 11 MSME customers of SIDBI, aggregating to Rs. 25.75 crore and 2 sanction letters to MSME customers of Nari Shakti Branch of Union Bank of India aggregating Rs.11 crore were also distributed by the finance minister, across various sectors to support enterprises traditional as well as advanced sectors such as aerospace and quantum technology.
vi.Sanction letters to five borrowers of Canara Bank were provided under newly launched Tarun Plus category of Pradhan Mantri Mudra Yojana (PMMY).
- The DFS had recently implemented the Union Budget 2024-25 announcement to increase the loan limit under the PMMY from Rs 10 lakh to Rs. 20 lakhs.
About Small Industries Development Bank of India (SIDBI)
Chairman and Managing Director (CMD) – Manoj Mittal
Headquarters – Lucknow, Uttar Pradesh
Founded – 2 April 1990
Union Minister JP Nadda launches “Scheme for Strengthening the Medical Device Industry”
Union Minister Jagat Prakash Nadda, Minister of Chemicals & Fertilizers(MoC&F), launched the Scheme for Strengthening the Medical Device Industry with an allocated budget of Rs.500 crores.
Key People: Anupriya Patel, Minister of State(MoS) for Chemicals and Fertilizers and Health & Family Welfare and Shri Arunish Chawla, Secretary, Department of Pharmaceuticals along with officials of the department and representatives of industry were also present during the event.
About the scheme:
i.Scheme for Strengthening the Medical Device Industry is a comprehensive scheme which targets critical areas of the medical device industry, covering manufacturing of key components and accessories, skill development, support for clinical studies, development of common infrastructure and industry promotion.
ii.This will not only benefit the industry but also mark a significant step toward making India self-reliant.
iii.This scheme will provide a boost to the entire sector of Medical Devices.
iv.Production-Linked Incentive (PLI) scheme, launched by the Government of India in 2020, has paved the way for growth and innovation, fostering industrial development, boosting manufacturing, and contributing to India’s self-reliance.
V.India’s medical device market valued at around USD14 billion in 2024 and projected to expand USD30 billion by 2030.
Sub Schemes:
The 5 sub-schemes of the new scheme are,
| Scheme for Strengthening of Medical Devices Industry Sub-schemes | Outlay (Rs. in crore) |
|---|---|
| Common Facilities for Medical Devices Clusters | 110 |
| Marginal Investment Scheme for Reducing Import Dependence | 180 |
| Capacity Building and Skill Development for Medical Devices | 100 |
| Medical Device Clinical Studies Support Scheme | 100 |
| Medical Device Promotion Scheme | 10 |
Defense Space Agency Conducts maiden ‘Exercise Antariksha Abhyas 2024’
Defence Space Agency(DSA) of Headquarters Integrated Defence Staff (IDS) successfully conducted the Space Table Top Exercise Antariksha Abhyas-2024 from 11th to 13th November 2024 in New Delhi, Delhi.
- This first of its kind exercise helped in strengthening India’s space based operational capabilities, enhancing Indian Navy, Army and Air force services integration for space security.
Aim: To boost the preparedness of the Indian Armed Forces in the domain of space warfare.
About Exercise Antariksha Abhyas-2024:
i.The exercise consisted of focused discussions on emerging space technologies, space situational awareness and India’s space program.
- The discussions emphasized upon the importance of monitoring and protecting important assets and being situationally aware in the increasingly challenging space environment.
ii.The 3-day exercise witnessed the engagement of the participants in scenario-based exercises, conducted by subject experts from various Ministries and Departments of the Government of India, besides military, scientific and academia.
- Valuable insights were provided by the experts into the present and future scenarios of military space capabilities and technologies, and explained about certain challenges faced in defence space operations and also the evolving nature of space safety, security, and international space laws.
iii.The successful implementation of the exercise provided strategies for operational preparedness, a strong framework for future collaboration and a clear road map for advancing India’s Space capabilities to meet the National Security objectives.
About Defence Space Agency:
Chief of Defence Staff – General Anil Chauhan
Headquarters– Bengaluru, Karnataka
Founded– 2018
Union Minister Jyotiraditya Scindia Inaugurated SATRC-25; Highlights India’s Role in Digital Transformation
The 25th Meeting of the South Asian Telecommunication Regulators’ Council (SATRC-25) was held from 11th to 13th November 2024 in New Delhi, Delhi. The meeting was inaugurated by Union Minister Jyotiraditya M. Scindia, Ministry of Communications.
The meeting was organized by the Asia-Pacific Telecommunity (APT) and hosted by Telecom Regulatory Authority of India (TRAI).
About SATRC-25:
i.SATRC-25’s program comprised of discussions focusing upon the theme of ‘Accelerating Telecommunication and information and communications technology (ICT) Development for Growth and Inclusiveness’ and promoting digital transformation for economic and social prosperity in the region.
ii.The meeting was attended by about 120 participants, including delegates from more than 10 countries and from the telecom industry as well. There were 9 Heads of Regulators/Heads of Delegation representing each of the SATRC Members.
iii.The meeting was attended by the representatives from Afghanistan, Bangladesh, Bhutan, India, Iran, Maldives, Nepal, Pakistan, and Sri Lanka alongside key figures such as Dr. Chandra Sekhar Pemmasani, Minister of State for Communications, Mr. Masanori Kondo, Secretary General of the Asia-Pacific Telecommunity (APT), and Mr. Anil Kumar Lahoti, Chairman of India’s Telecom Regulatory Authority (TRAI).
Note: SATRC Chair Major General (Retd.) Mohammad Emdad Ul Bari, Chairman of Bangladesh’s Telecommunication Regulatory Commission, celebrated two decades of SATRC’s accomplishments in regional telecommunications.
Highlights:
i.The meeting was organized to provide an opportunity to telecommunication/ ICT industry in South Asian region to highlight critical issues regarding regulatory environment and opinions of the industry on those issues.
- Polices and regulatory best practices and experiences on supporting the digital transformation of the economy and society were also encouraged to share. Discussions upon radio frequency coordination, development strategies, regulatory trends, and opportunities to strengthen regional cooperation, with the goal of shaping a resilient and interconnected digital future for South Asia were also held.
- The meeting reviewed the progress of execution of SATRC Action Plan Phase IX Progress on the work on different work items reported by the Chairs of the SATRC Working Groups.
- It also reviewed the activities and the budget implementation of SATRC Action Plan Phase IX for the year 2025.
ii.Union Minister emphasized highglihted India’s achievements in digital infrastructure, having 1.2 billion telephones and 970 million internet subscribers. He mentioned that India accounts for 10% of the national economy compared to just 3.5% a decade ago and continues to grow at a rate 2.8 times faster than the national economy.
- He has projected that the digital economy could reach 20% by 2026-27.
iii.Moreover he highlighted upon the capability of Non-Terrestrial Networks (NTNs), such as satellite and high-altitude platforms, to reach underserved areas and would open new opportunities in communication, enabling transformative applications and advancing our journey towards the UN Sustainable Development Goals (SDGs).”
About Telecom Regulatory Authority of India (TRAI)
The Telecom Regulatory Authority of India (TRAI) is a regulatory body set up by the Government of India under section 3 of the Telecom Regulatory Authority of India Act, 1997.
Chairman – Anil Kumar Lahoti
Headquarters – New Delhi, India
Founded – 1997
India Gifts Two Water Jet Propelled FICs to Mozambique
Indian Navy (IN),under the Government of India(GoI),handed over two water-jet-propelled Fast Interceptor Crafts (FICs) to the Government of Mozambique as part of its capacity-building engagements with friendly foreign nations of the Indian Ocean Region (IOR).
- The FICs were delivered to Mozambique from India by the Indian Naval Ship INS Gharial to combat maritime terrorism and insurgency in the Cabo Delgado region
- The High Commissioner of India in Mozambique Robert Shetkintong, Defence Adviser Colonel Puneet Attri, and Commander Rajan Chib of INS Gharial attended the handing over ceremony of FICs in Nacala, Mozambique and Ministry of National Defence, Augusto Casimiro Mueio accepted the craft on behalf of the Mozambique Government.
About FIC
i.It has a reaching speed of up to 45 knots and is equipped with machine guns and bullet-resistant cabins.
ii.To support the regional maritime security of Mozambique, India donated two large interceptor vessels in 2019 and two similar FICs in 2022.
About Mozambique
President: Filipe Nyusi
Capital: Maputo
Currency: Mozambican Metical(MZN)
About Indian Navy
Founded on: January 26, 1950
Chief of the Naval Staff: Admiral Dinesh K Tripathi
India Signs Agreement to Host BIMSTEC Centre in Bengaluru
India signed the Host Country Agreement (HCA) for establishing the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Energy Centre in Bengaluru,Karnataka. This initiative aimed at enhanced energy cooperation in the Bay of Bengal and littoral region, including through inter-grid connectivity.
- The agreement was formalized in New Delhi(Delhi) on 08 November 2024.
- The Energy Centre is to be housed in the premises of the Central Power Research Institute (CPRI) Bengaluru and also function as the Secretariat of the BIMSTEC Grid Interconnection Coordination Committee (GICC).
Signatories:
The agreement was signed between the Ministry of External Affairs (MEA), Secretary (East) Jaideep Mazumder, and BIMSTEC Secretary General, Indra Mani Pandey.
Points to Note:
i.India hosted the first meeting of the Governing Board of BIMSTEC energy centre (BEC) on February 27,2023 at Shangri-la Hotel,Bengaluru.
ii.Indra Mani Pandey participated at the Second Edition of Raisina Down Under 2024 in Canberra, Australia.
iii.External Affairs Minister Dr.S Jaishankar reiterated India’s dedication to strengthening ties with BIMSTEC during a meeting of foreign ministers.
India’s Regional Leadership in Security Cooperation:
India plays a leading role in regional security cooperation through the BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation). India is hosting its second regional center focused on security. This initiative is in line with India’s key policies:
- ‘Neighborhood First’: Prioritizing strong relationships with neighboring countries.
- ‘Act East’: Strengthening ties with countries in the East, especially Southeast Asia.
- ‘SAGAR’ (Security and Growth for All in the Region): A vision to promote security, growth, and prosperity for all countries in the Indian Ocean region.
About BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation):
BIMSTEC is a regional organization comprising 7 countries from South Asia and Southeast Asia, which are connected by the Bay of Bengal.
Secretary General- Indra Mani Pandey
Headquarters- Dhaka, Bangladesh
Established- June 6,1997
BANKING & FINANCE
RBI Introduced Operational Framework for Reclassification of FPI to FDI
On 11th November 2024, the Reserve Bank of India (RBI) introduced an operational framework for the reclassification of investments made by a Foreign Portfolio Investor (FPI) to Foreign Direct Investment (FDI) if the entity breaches the prescribed limit.
- Under the existing Foreign Exchange Management (FEM) (Non-Debt Instruments) Rules, 2019, an investment made by the FPI should be not exceeding 10% of the total paid-up capital on a fully diluted basis.
- As per new framework, any FPI investing more than the prescribed limit should have the option of divesting their holdings or reclassifying such holdings as FDI subject to the conditions prescribed by the RBI and Securities and Exchange Board of India (SEBI).
- These directions have become operative with immediate effect.
Key Points:
i.The reclassification procedure must occur within 5 trading days from date of settlement of the trades causing the breach.
ii.As per the new framework, the FPI concerned are now required to obtain necessary approvals from the government, including approvals required in case of investment from land bordering countries and concurrence of the Indian investee company concerned when their equity holdings breach the prescribed limits.
- This means that investment should follow entry route, sectoral caps, investment limits, pricing guidelines, and other conditions for FDI under the rules.
- However, the facility of reclassification shall not be allowed in any sector prohibited for FDI.
iii.For reclassification, the entire investment held by such FPI should be reported within the timelines specified under FEM (Mode of Payment and Reporting of Non-Debt Instruments) Regulations, 2019.
- After reporting this reclassification, the FPI is required to instruct its custodian to transfer the equity instruments from the demat account designated for portfolio investments to the FDI account.
iv.Once reclassification is completed; the entire investment of an FPI will considered FDI and remains so, even if holdings fall below the threshold of 10% at a later date.
Points to Note:
i.SEBI has also separately outlined the procedure for reclassification of FPI to FDI.
ii.As per SEBI FPI Regulations, if an FPI fails to divest its holdings (in excess of the prescribed limit), within 5 days, then the completed investment in the company by such FPI will be considered as investment under the FDI.
About Reserve Bank of India(RBI):
Governor– Shaktikanta Das (25th Governor of RBI)
Headquarters- Mumbai, Maharashtra
Established– 1 April, 1935
Tata Power Renewable Energy & IndusInd Bank Partners for Collateral Free Solar Financing for MSEs
Mumbai(Maharashtra) based Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has announced a strategic partnership with Mumbai based IndusInd Bank Limited to facilitate accessible and affordable solar financing for Micro and Small Enterprises (MSEs) and promote solar energy adoption amongst MSEs.
- This partnership will provide collateral-free solar financing to MSEs by offering loans ranging from Rs 10 lakh to Rs 2 crore.
i.These loans, contingent on the bank’s credit approval, require a 20% margin and come with competitive interest rates, offering terms of up to 7 years.
ii.This partnership is in line with TPREL’s vision of environmental responsibility and supports India’s sustainability goals, including the net-zero target by 2070.
Cashfree Payments Received PPI Licence from RBI
Cashfree Payments India Private Limited, Bengaluru (Karnataka) based Payment Aggregator(PA) has received a Prepaid Payment Instrument (PPI) licence from the Reserve Bank of India (RBI).
- At present, RBI has issued the PPI licences to 46 entities.
i.This will allow Cashfree Payments to provide a range of digital payment solutions, including mobile wallets, prepaid cards, and vouchers.
ii.The PPI licence will help to build offerings that let internet businesses retain and grow their user base.
Note: Cashfree Payments received the Payment Aggregator Cross-Border(PA – CB) licence in July 2024, which facilitates transactions for imports and exports and the company secured the payment aggregator licence in December 2023, enabling it to process online merchant payments.
ECONOMY & BUSINESS
NSE Relaxed Norms for Inactive Trading Accounts
The National Stock Exchange Limited (NSE) has relaxed the norms regarding the definition of inactive trading account. It has changed the timeline for marking an account as inactive from 12 months to 24 months.
- As per the NSE directions, existing clients who are inactive as per previous guidelines, but are active as per revised guidelines will be considered as active for trading only after updating their details.
Key Points:
i.As per revised norms, trades in Initial Public Offering (IPO), Mutual Funds(MF), Sovereign Gold Bonds(SGBs), Offer for Sale (OFS) and buybacks are also now to be considered as active accounts for trading.
- Previously, only trading in equity, Futures and Options (F&O) commodities and currencies was considered for allowing the account to be active.
ii.The NSE has mandated that any account once marked inactive, can be activated by the broker only after completing in-person verification either physically or in digital mode.
iii.Also, brokers are authorised to seek updated client details like: address, email ID(electronic mail Identification), bank account and income details.
iv.The inactive accounts identified based on the above mentioned criteria may be termed as “Inactive” by the Trading Member in Unique Client Code (UCC) database of all the respective changes.
About National Stock Exchange Limited (NSE):
Chairman– Girish Chandra Chaturvedi
Headquarters- Mumbai, Maharashtra
Established – 1992
AWARDS & RECOGNITIONS
British Author Samantha Harvey wins the 2024 Booker Prize for fiction
British author Samantha Harvey won the 2024 Booker Prize award for her fiction novel “Orbital” which has become the first book set in space to win the prize.
- The winner was announced by Chair of the 2024 judges, Edmund de Waal, at a ceremony held at Old Billingsgate in London, the United Kingdom(UK).
- Harvey becomes the 1st woman to win the award since 2019. Margaret Atwood and Bernardine Evaristo shared the award in 2019.
- Samantha Harvey was awarded with 50,000 pound ( USD 64,000) and a trophy, which was presented to her by Paul Lynch, winner of the Booker Prize 2023.
Points to note:
i.Orbital is the 2nd-shortest novel ever to win the Booker Prize.
ii.This science fiction novel has been published by Jonathan Cape in the United Kingdom (UK) and by Grove Atlantic in the United States of America (USA).
Key Points:
i.It is the second-shortest book with 136 pages to win the prize, and covers the briefest timeframe of just 24 hours for any book on the shortlist.
- The shortest winning novel in the history of the prize was 1979’s Offshore by Penelope Fitzgerald, at 132 pages.
ii.This year’s shortlist had five women out of 6 shortlists – the largest number of women represented in its 55-year history.
iii.2024 shortlist included,
- James – Percival Everett (US)
- Creation Lake – Rachel Kushner (US)
- Held – Anne Michaels (Canada)
- The Safekeep – Yael van der Wouden (Netherlands)
- Stone Yard Devotion – Charlotte Wood (Australia)
About Orbital:
i.Orbital, is Harvey’s fifth novel and sixth book which takes readers on an extraordinary journey to the International Space Station, where a diverse crew of six astronauts and cosmonauts from around the world — America, Russia, Italy, the UK, and Japan are stationed.
- The story explores how they struggle with existential questions and the effects of being so far from Earth.
ii.As the crew rotates on the Space Station, travelling at a speed of over 17,000 miles per hour, they observe 16 sunrises and 16 sunsets over the Earth.
About Samantha Harvey:
i.Samantha Harvey was born in 1975 lives in Bath, UK, and is a Reader in Creative Writing at Bath Spa University.
ii.She is the author of five novels, The Wilderness, All Is Song, Dear Thief, The Western Wind and Orbital. She is also the author of a memoir, The Shapeless Unease.
iii.The Western Wind won the 2019 Staunch Book Prize, and her first novel, The Wilderness, was shortlisted for the Orange Prize for Fiction 2009, longlisted for the 2009 Man Booker Prize and won the 2009 Betty Trask Prize.
iv.Her book Orbital is the winner of The InWords Literary Award 2024 and the 2024 Hawthornden Prize for Literature.
About Booker Prize:
i.The Booker Prize was founded in 1969.
ii.Each year, the prize is awarded to the best sustained work of fiction written in English and published in the UK and Ireland.
India’s Rachel Gupta Won Miss Grand International 2024
Rachel Gupta from Jalandhar(Punjab) won the 12th edition of “Miss Grand International (MGI) 2024” standing out among contestants from more than 70 countries held at MGI hall in Bangkok (Thailand). She became the 1st Indian and 3rd Asian to be crowned MGI.
- Thae Su Nyein, Miss Grand Myanmar 2023, was crowned as the second runner-up at MGI 2024.
- She won the Miss Grand India title in August 2024, which paved the way for her to compete for the MGI title.
i.In addition to winning the main title, she also won the Grand Pageants Choice Award 2024. She will now serve as the global ambassador for MGI, promoting peace and stability worldwide.
ii.With this win, she shares the record for the most global pageant crowns won by an Indian, along with former Miss Universe Lara Dutta.
iii.In 2022, she won the title of “Miss Super Talent of the World” at the 15th edition of the pageant held in Paris, France.
APPOINTMENTS & RESIGNATIONS
Navinchandra Ramgoolam appointed as Mauritius’ New Prime Minister
Dr Navinchandra Ramgoolam (77), the leader of the Labour Party, was appointed as the Prime Minister(PM) of Mauritius for the third time by the President Prithvirajsing Roopun , after his coalition Alliance du Changement won the parliamentary election. He took the oath of office on November 13, 2024 for a 5 year term and replaced Pravind Kumar Jugnauth, who has served as PM since 2017.
- The opposition coalition secured a commanding victory with 62.6% of the vote, winning 60 of the 62 contested seats, while the People’s Alliance led by Jugnauth failed to win any seat.
- It was the 12th election of Mauritius since the country attained independence in 1968.
About Navinchandra Ramgoolam:
i.Navinchandra Ramgoolam is the son of Sir Seewoosagur Ramgoolam, the first PM of independent Mauritius, often referred as the “Father of the Nation.”
ii.Ramgoolam, former doctor and a lawyer, became the leader of the Mauritius Labor Party (MLP) in June 1991.
iii.He was first selected as the PM in 1995 and served until 2000 and again he became the PM in 2005 and served until 2014.
- He also held the Offices of Minister of Defence, Home Affairs and External Communications.
iv.He played a key role in strengthening Mauritius’ position as a financial services hub and enhancing the tourism sector, which is a major contributor to the country’s economy.
v.He was honoured with the Honorary Doctor of Civil Law degree from Staffordshire University in recognition of his leadership in governance.
About Mauritius:
Prime Minister (PM)- Navinchandra Ramgoolam
President- Pravind Kumar Jugnauth
Capital- Port Louis
Currency- Mauritian Rupee (MUR)
Alix Didier Fils-Aime Sworn in as interim Prime Minister of Haiti
On November 11 2024, Alix Didier Fils-Aime (52), former president of Haiti’s Chamber of Commerce and Industry (CCI) was sworn in as the interim Prime Minister (PM) of Caribbean country Haiti at the National Palace in Port-au-Prince, capital of Haiti.
- He replaced Garry Conille who was appointed as the PM in May 2024 and was dismissed by the Transitional Presidential Council(TPC) due to the continued political instability of the country.
- The new government, formed with 18 ministers, will head Haiti’s transition until February 7, 2026.
Note: The TPC was formed in April 2024 for selecting new leaders and organizing elections in the cou
About Alix Didier Fils-Aime:
i.Alix Didier Fils-Aime is a Businessman. He participated in the 2015 election for the Vérité party.
ii.Prior to the appointment,he served as Haiti’s Minister of Planning and External Cooperation (MPEC) during the administration of President Jovenel Moïse, from 2017 to 2020.
iii.During his time as MPEC, Fils-Aime worked on several key development initiatives to enhance Haiti’s participation in global economic forums.
iv.He was also engaged in projects related to sustainable development, including efforts to improve Haiti’s agriculture, energy, and public health sectors.
About Haiti:
Prime Minister (PM)– Alix Didier Fils-Aime
Capital- Port-au-Prince
Currency- Haitian Gourde (HTG)
Praveena Rai Takes Over Leadership of MCX as CEO and MD
On October 31,2024, Praveena Rai was taken charge as the Chief Executive Officer (CEO) and Managing Director (MD) of the Multi Commodity Exchange of India (MCX) for a five-year term. She replaced PS Reddy who retired in May 2024.
i.Praveena Rai’s appointment was confirmed at the annual general meeting held in September 2024 .
ii.Prior to the appointment, she served as Chief Operating Officer (CEO) at the National Payments Corporation of India (NPCI), where she played a vital role in formulating business, operational, and technical strategies and shaping the organization’s industry impact.
iii.She also held the position of banking professional in Regional Head of Payments for Asia Pacific at HSBC Holdings plc . She also led the cash management portfolio at Kotak Mahindra Bank Limited(KMBL), which is the largest shareholder in MCX.
Note: MCX is one of India’s largest commodity derivatives exchanges.
ACQUISITIONS & MERGERS
HDFC Standard Life Buys Rs 90 Crore Worth of PNB Housing Finance Shares
Mumbai(Maharashtra) based HDFC Standard Life Insurance Company Limited acquired 0.4% shares of New Delhi(Delhi) based PNB Housing Finance Limited for Rs 90 crore through an open market transaction. It highlights HDFC Standard Life’s interest in expanding its portfolio within the housing finance sector.
i.The shares were picked up at an average price of Rs 900 apiece, taking the transaction value to Rs 90 crore.
ii.After the transaction, foreign investor Asia Opportunities V (Mauritius) Ltd reduced its holding in PNB Housing to 0.94% from 1.34%.
iii.In August 2024, Asia Opportunities V (Mauritius) divested a 3% stake in PNB Housing Finance for over Rs 676 crore while in May 2024, Asia Opportunities V (Mauritius) and General Atlantic liquidated a cumulative 4.46% stake in PNB Housing Finance for Rs 843 crore.
SPORTS
India won Bronze at “Sultan of Johor Cup Junior Hockey U21 Tournament”
The Indian men’s junior team under the captain Amir Ali beat New Zealand 3-2 to win the bronze medal at the12th edition of “Sultan of Johor Cup junior under 21 men’s hockey tournament 2024” at the Taman Daya Hockey Stadium in Johor Bahru, Malaysia.
- This was India’s second consecutive bronze medal at the tournament.
- Participating Countries : India, New Zealand, Malaysia, Germany, Great Britain and Japan.
i.Indian goalkeeper Bikramjit Singh had made three great saves, and strikers Gurjot Singh, Manmeet Singh, and Sourabh Anand Kushwaha had scored in the shootout to secure the win.
ii.Great Britain’s(GB) U21 Men’s squad defeated Australia to win Gold medal the 12th Sultan of Johor Cup. This was GB’s fourth title of Sultan of Johor Cup
Note: India won Gold Medal at Sultan of Johor Cup junior under 21 men’s hockey tournament in 2013, 2014 and 2022. Germany won the previous edition in 2023.
IMPORTANT DAYS
World Quality Week 2024 – November 11 to 15
World Quality Week (WQW) is celebrated annually during the second week of November to highlight the importance of quality management. It serves as a platform to raise awareness about the profession and its role in navigating complexity in today’s dynamic business landscape.
- It is an annual event organised by the Chartered Institute of Quality (CQI).
WQW 2024 is observed from 11 to 15 November 2024.
- WQW 2023 is observed from 6 to 10 November 2023 and WQM 2025 will be observed from 10 to 14 November 2025.
Theme:
The theme of WQW 2024 is ‘Quality: From Compliance to Performance’
- The theme highlights the importance of quality management from a focus on compliance to an approach aimed at continuous improvement and excellence.
Background:
i.The idea of World Quality Week (WQW) was first proposed by the American Society for Quality (ASQ) in 2010.
ii.In 2021, the CQI expanded the one-day event of quality management “World Quality Day” into a week-long celebration “World Quality Week”.
- Since 2021, CQI has been celebrating WQW during the 2nd week of November.
Note: The CQI is also in charge of the International Register of Certified Auditors (IRCA).
Importance of Quality Management:
Quality management builds trust and loyalty by consistently delivering high-quality products and services that meet customer expectations. It enhances operational efficiency and drives a strong position in the competitive market.
About Chartered Institute of Quality (CQI):
The Chartered Quality Institute (CQI) was formerly known as the Institute of Quality Assurance (IQA).
Chief Executive Officer(CEO) – Vincent Desmond
Headquarters – London, the United Kingdom(UK)
Founded – 1919
First-Ever UN International Day for the Prevention of and Fight against All Forms of Transnational Organized Crime 2024 – November 15
The first-ever United Nations (UN)’s International Day for the Prevention of and Fight against All Forms of Transnational Organized Crime (TOC) was observed across the globe on 15th November to raise awareness about the dangers of various types of transnational organized crime and to strengthen global collaboration to address them.
- The theme of International Day for the Prevention of and Fight against All Forms of TOC 2024 is “Organized crime steals, corrupts and kills. It’s time we pull together to push back”.
- In March 2024, United Nations General Assembly (UNGA) Resolution 78/267 designated 15th November on each year as the International Day for the Prevention of and Fight against All Forms of TOC.
About United Nations Office on Drugs and Crime (UNODC):
UNODC was established in 1997 as a result of merging of the United Nations Centre for International Crime Prevention and the United Nations International Drug Control Programme.
Executive Director(ED) – Ghada Waly
Headquarters – Vienna, Austria
>> ReadFull News
*******
Current Affairs Today (AffairsCloud Today)