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Current Affairs 21 November 2024

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NATIONAL AFFAIRS

India-IEA MoU for Cooperation in Critical MineralsIndia partners with International Energy AgencyOn November 13, 2024, the Ministry of Mines (MoM) signed a Memorandum of Understanding (MoU) with International Energy Agency (IEA) at Shastri Bhawan, New Delhi (Delhi) to enhance collaboration in the field of critical minerals. These minerals are vital for economic development and national security.

  • This partnership is expected to provide India with access to reliable data, in-depth analysis, and policy guidance, strengthening its ability to manage critical resources strategically.

Key Signatories: The MoU was signed by V. L. Kantha Rao, Secretary, Ministry of Mines (MoM), and Fatih Birol, Executive Director (ED), IEA in the presence of Union Minister G. Kishan Reddy, Ministry of Mines (MoM) and other senior officials.

  • The MoU was exchanged between Vivek Kumar Bajpai, Joint Secretary, Ministry of Mines (MoM), and Tae-Yoon Kim, Head of Energy Minerals Analysis, IEA.

Note– The Union Cabinet approved the signing of this MoU on October 3, 2024.
Key Benefits of the MoU:
i.Policy Development: The MoU will support India in refining its policies and regulatory frameworks for critical minerals, informed by the experiences of other IEA members.
ii.Capacity Building: It will enable knowledge sharing through joint research, workshops, and training programs, improving technical expertise in mineral extraction, recycling, and technology.
iii.Data and Analysis: India will gain advanced capabilities in data collection, modeling, and analysis, enhancing institutional capacity in the critical mineral sector.
Point to Note– India is an active member of the United States of America (USA)-led Minerals Security Partnership (MSP), an initiative focused on securing adequate supplies of critical minerals essential for achieving global zero-carbon emission goals.
About International Energy Agency (IEA):
The IEA, an international body under the Organization for Economic Co-operation and Development (OECD).
Executive Director (ED)– Fatih Birol
Headquarters– Paris, France
Founded– 1974
Members– 31 countries
About Ministry of Mines (MoM):
Union Minister– G. Kishan Reddy (Constituency- Secunderabad , Telangana)
Minister of State (MoS)- Satish Chandra Dubey (Rajya Sabha- Bihar)

CEA: India’s Renewable Energy Hits New Milestone as Installed Capacity Surpasses 200 GWIndia's Renewable Energy Capacity Hits New Milestone According to the Central Electricity Authority (CEA)’s data, India’s total renewable energy-based electricity generation capacity has increased by 24.2 GigaWatt (GW) (13.5%) reached to 203.18 GW in October 2024 compared to 178.98 GW in October 2023.

  • This remarkable growth in Renewable Energy (RE) is in line with the country’s ambitious RE target of achieving 500 GW from non-fossil sources by 2030.
  • Also, when including nuclear energy, India’s total non-fossil fuel capacity has increased from 186.46 GW (in 2023) to 211.36 GW (in 2024).

i.At present, India’s total electricity generation capacity has reached 452.69 GW, with RE contributing a major portion of the overall power mix.
ii.Solar Power saw an increase of 27.9%, from 72.02 GW (in October 2023) to 92.12 GW (in October 2024) and has emerged as the largest contributor to RE-based power generation in 2024, followed by Wind power (47.72 GW) with Y-o-Y  increase of 7.7%.
iii.According to the International Renewable Energy Agency’s (IRENA) 2024 Annual Review, India’s RE sector achieved a significant milestone  with an estimated 1.02 million jobs generated in 2023.
About Central Electricity Authority (CEA):
It is a statutory body established under section 3(1) of the Electricity Supply Act, 1948, now superseded by section 70 (1) of the Electricity Act 2003. It is administered by the Union Ministry of Power (MoP).
Chairman- Ghanshyam Prasad
Headquarters- New Delhi, Delhi
>> ReadFull News

27th Energy Technology Summit held from 12th – 14th November 202427th Energy Technology Meet from 12-14th November, 2024Union Minister Hardeep Singh Puri, Ministry of Petroleum and Natural Gas(MoPNG) launched the 27th Energy Technology Meet (ETM 2024) which was held from 12th to 14th November 2024 in Bengaluru, Karnataka.

  • The three-day Energy Technology Meet has been organized by the Centre for High Technology (CHT) and Indian Oil Corporation Limited (IOCL).
  • The event was focusing on the theme – Green Energy Horizons: Advancing Sustainable Refining and Petrochemicals.
  • The meet showcased India’s efforts towards sustainable energy innovations and the shift towards greener energy solutions.

Key Highlights
i.ETM-2024 saw the involvement of 1,200 participants including domain experts, academia, licensors, Research and Development (R&D) scientists, and other professionals from the hydrocarbon sector.

  • The event witnessed the presentation of 60 papers and 23 exhibitors showcasing their latest technologies.

ii.Union Minister addressed the event at the inauguration highlighting that through biofuel blending, India saved Rs.91,000 crore on the import bill and this can be utilized for the benefit of the agricultural sector.
iii.He stated that India’s current biofuel blending rate has reached 16.9%, and is on track to surpass the 20% target set for 2030, five years ahead of schedule.

  • He also said that India ranks second globally in biofuel blending thus having a lead in sustainable fuel practices.

iv.He added that India has become the fourth-largest refining nation globally, with a capacity of 8 million Metric Tonnes Per Annum (MMTPA), following the United States of America (USA), China, and Russia.
v.He emphasized that being the world’s third-largest energy consumer, India’s requirements are projected to increase 2.5 times by 2047 making up 25% of global energy demand growth with next two decades.
vi.He further added that India’s OMCs (oil marketing companies) have been granted 404 patents and have filed 382 additional patents till January 2023.
MRPL receives special award for innovation at Energy Technology Meet
i.Mangalore Refinery and Petrochemicals Limited (MRPL) was awarded with the special award for Innovation by the Centre for High Technology, MoPNG.

  • The award was handed over by the Hardeep Singh Puri to a team from MRPL led by Managing Director (MD) Mundkur Shyamprasad Kamath.

ii.This honor acknowledges its innovative work in First-Principles and Artificial Intelligence Hybrid Applications for Process Efficiency and Reliability Improvement.
iii.This is the 3rd consecutive year that MRPL has been recognized for its innovation in refining by the Government of India (GoI) through the Centre for High Technology, MoPNG.
About Indian Oil Corporation Limited (IOCL):
Chairman – Arvindar Singh Sahney
Headquarters – New Delhi, Delhi
Founded– 1959
About Mangalore Refinery and Petrochemicals Limited (MRPL):
Chairman – Arun Kumar Singh
Headquarters – Mangaluru, Karnataka
Founded– 1988

White Category Industries Exempted from SPCB Approval Requirements'White Category' industries no longer need State Pollution Board approvalThe Ministry of Environment, Forest and Climate Change of India (MoEFCC) issued a directive that ‘White Category’ industries are no longer required to obtain approval from the State Pollution Control Boards (SPCBs) for their operations.

  • Industrial plants scoring up to 20 on the Pollution Index(PI) will be exempt from certain provisions under sub-section (1) of Section 21 of the Air (Prevention and Control of Pollution) Act, 1981, provided they inform their respective SPCBs or Pollution Control Committees in writing.
  • This decision is part of a broader initiative to streamline business processes.

Key Points:
i.Industries categorized under the White Category, which are considered to have minimal or negligible pollution potential, will no longer need to secure permissions known as ‘Consent To Establish’ (CTE) and ‘Consent To Operate’ (CTO) from SPCBs. This change aims to streamline the process for businesses and reduce bureaucratic hurdles.
ii.The permissions previously required from SPCBs have been merged with the environmental clearance granted by MoEFCC.
iii.Plants that have already received environmental clearance under the 2006 notification issued by the former Ministry of Environment and Forests will also be exempt from needing a CTE for their ongoing operations.
Characteristics of White Category Industries:
White Category industries include a variety of sectors that are primarily dry, mechanical, or non-emission processes. The 2016 classification lists 39 sectors, such as:

  • Assembly of air coolers
  • Electric lamps
  • Fly ash brick manufacturing
  • Repair of electric motors and generators
  • Food Processing (without chemical processes)
  • Textiles (non-dyeing)
  • Paper and Paper Products (without bleaching)
  • Wood and Wood Products (non-polluting)
  • Leather (tanning-free processes)
  • Solar Power Generation
  • Plastic Products (non-hazardous)

These sectors align with sustainability goals and are designed to have minimal environmental impact.

MoHUA and UN-Habitat signs MoU for Sustainable development in Urban areasMinistry of Housing & Urban Affairs and UN-Habitat sign MoU for sustainable developmentOn November 15 2024, the Ministry of Housing and Urban Affairs (MoHUA) and the United Nations Human Settlements Programme (UN-Habitat) signed a Memorandum of Understanding (MoU), to promote and strengthen the sustainable development in urban areas in India.

  • The partnership aims at advancing the goals of sustainable urbanization and harmonizing with India’s larger commitment to achieve the Sustainable Development Goals (SDGs), specifically SDG 11(Sustainable Cities and Communities).

Signatories:
The MoU was inked between Katikithala Srinivas, the Secretary, MoHUA and Kazuko Ishigaki (Regional Representative, Asia and the Pacific region) UN-Habitat along with the respective delegations signifying the historic step at the 12th World Urban Forum in Cairo, Egypt.
Key Points :
i.UN-Habitat and MoHUA will collaborate through knowledge sharing, policy guidance, technical expertise, and collaboration aimed at fostering inclusive, safe, resilient, and sustainable development in India’s urban areas and human settlements.
ii.As part of this collaboration, the two organizations launched the ‘Urban RAASTA (Resilient and Accelerated Advancement with Sustainable and Transformative Actions)’ framework.

  • Urban RAASTA is specifically designed for local stakeholders, particularly India’s intermediate cities to foster green, sustainable, and healthy urban development and environmentally friendly, while drawing on India’s traditional conservation practices and principles of moderation.
  • The framework is built on 4 foundational principles: spatial equity, SDG localization, climate resilience, and an inclusive economy.
  • The framework adopts a T-shaped approach, integrating multi-sectoral horizontal strategies with a comprehensive, intra-sectoral vertical focus.

vi.The agreement also emphasizes the focus for shared prosperity with social, economic and environmental integration of cities, city regions and rural areas, recognising India’s ambition to grow from a USD 3 trillion economy to a USD 5 trillion economy within the next few years.
About Sustainable Development Goals(SDG) 11:
SDG 11, titled “sustainable cities and communities”, is one of 17 SDGs established by the United Nations General Assembly(UNGA) in 2015.

  • The mission of SDG 11 is to “Make cities inclusive, safe, resilient and sustainable.

About Ministry of Housing and Urban Affairs (MoHUA):
Union Minister- Manohar Lal Khattar (Constituency – Karnal, Haryana)
Secretary-Srinivas Katikithala
Headquarters– New Delhi, Delhi
Establishment-1952

MoC launches Amrit Parampara to showcase India’s cultural heritage
The Ministry of Culture(MoC) has launched “Amrit Parampara” a festival series to celebrate and preserve India’s traditional arts, focusing on fading art forms, with innovative programs that blended tradition with modern technology.

  • Union Minister S. Jaishankar, Ministry of External Affairs(MEA) inaugurated the first program of the series, “Kaveri Meets Gangaat Kartavya Path(formerly known as Rajpath) in New Delhi(Delhi).
  • It was held from 2nd to 5th November 2024 at Kartavya Path and the Centre for Cultural Resources and Training (CCRT) campus at Dwarka, Gujarat.

i.It was Jointly organized by the Sangeet Natak Akademi, the Kalakshetra Foundation and the CCRT.
ii.The event showcased a variety of art forms, including Nagar Sankirtan and Govardhan Puja from Braj, Kuchipudi from Andhra Pradesh(AP), Bharatanatyam by renowned artists, and folk traditions like Panchavadyam and Theyyam from Kerala.
iii.The Amrit Parampara series has been designed to promote the continuity of India’s cultural legacy through 4 key pillars: the foundation of Bharatiya Sanskriti, a blend of cultural education and entertainment, the synthesis of diverse ideas, and a multi-sensory experience.
iv.The festival series marks the start of a two-year celebration of the 150th Birth Anniversary of Sardar Patel, honoring his achievements and his role in uniting India.
Note: CCRT, founded in 1979, is a leading institution dedicated to integrating education with culture.

FTII’s short film “Sunflowers Were the First Ones to Know” Qualified for Oscar 2025
The Ministry of Information & Broadcasting(MoI&B) announced that Pune (Maharashtra) based Film and Television Institute of India(FTII) student film “Sunflowers Were the First Ones to Know” has qualified for the 2025 Oscars in the Live Action Short Film Category.

  • The Kannada short film was produced by FTII and directed by Chidananda S Naik.

i.The 16-minute short film is inspired by Indian folklore. The story chronicles a village where chaos unfolds after an elderly woman steals a rooster.
ii.Itwon the First Prize at the Cannes Film Festival’s La Cinef Selection 2024, gaining worldwide recognition for the Kannada-language project inspired by Indian folk tales and traditions. It also won the Bengaluru International Short Film Festival.
Note: The 97th Academy Awards will be held on 2nd March 2025, in Los Angeles, the United States of America(USA).

INTERNATIONAL AFFAIRS

India & Japan Signed agreement to Stealth UNICORN Mast for Navy WarshipsIndia, Japan sign agreement for UNICORN mastsOn November 15 2024, the Government of India(GoI) and the Government of Japan signed a Memorandum of Implementation (MoI) for the co-development of Unified Complex Radio Antenna(UNICORN) mast for fitment onboard Ships of the Indian Navy(IN) under India-Japan Defence Technology Cooperation (IJDTC) .

  • The initiative aims to enhance the stealth and technological capabilities of the Indian Navy and was India’s first military technology transfer pact with Japan.

Signatories:
The MoI was signed by H E Shri Sibi George, Ambassador of India to Japan and Ishikawa Takeshi, Commissioner of Acquisition Technology and Logistics Agency (ATLA) under the Ministry of Defence, Government of Japan at the Embassy of India, in Tokyo, Japan.
Key Points:
i.The UNICORN mast(single piece) is an integrated conical structure housing antennas atop warships, designed to enhance stealth capabilities, and will be fitted on Indian Naval warships.
ii.It was developed jointly by 3 Japanese companies:NEC Corporation, Sampa Kogyo K.K., and The Yokohama Rubber Company Limited and  these antennas are currently fitted on Mogami class frigates of Japan Maritime Self Defence force.
iii.UNICORN’s implementation would be the first case of co-development and co-production of Defence Equipment between India and Japan.
iv.The IN is pursuing the induction of these advanced systems which will be co-developed by Bengaluru(Karnataka) based Bharat Electronics Limited (BEL) along with Japanese collaboration.
About Japan:
Prime Minister (PM)-Shigeru Ishiba
Capital- Tokyo
Currency- Japanese Yen(JPY)

BANKING & FINANCE

SBI, HDFC Bank, ICICI Bank named in RBI’s 2024 list of D-SIBsSBI, HDFC Bank, ICICI Bank figure in RBI’s 2024 list of (D-SIBs)The Reserve Bank of India (RBI) has designated State Bank of India (SBI), HDFC Bank Limited, and ICICI Bank Limited as Domestic Systemically Important Banks (D-SIBs) for 2024, marking them as ‘too big to fail’. They must maintain higher Common Equity Tier 1 (CET1) capital buffers to ensure financial stability.

  • These three banks continue to be under the same bucketing structure as in the 2023 list of D-SIBs.

Key Points:
i.SBI remains in the top 4 D-SIBs, requiring an additional CET1 buffer of 0.80%.
ii.HDFC Bank, the largest private lender, is classified in bucket 2, with a CET1 buffer requirement of 0.40%.
iii.ICICI Bank is in bucket 1, needing an additional 0.20% CET1 buffer.
iv.The higher D-SIB surcharges for SBI (0.80%) and HDFC Bank (0.40%) will apply from April 1, 2025.
v.Until March 31, 2025, the surcharge for SBI is 0.60% and for HDFC Bank is 0.20%.
vi.The classifications are based on data collected from banks as of March 31, 2024.
About Domestic Systemically Important Banks (D-SIBs):
i.RBI designates banks as D-SIBsbased on their size, complexity, and interconnectedness within the financial system.
ii.The D-SIB classification is updated annually, following the RBI’s framework was established in 2014 and updated in 2023.

  • SBI and ICICI Bank were added in the list in 2015 and 2016 respectively. HDFC Bank was added to the list along with the other two banks in 2017.

iii.Banks are categorized into five buckets based on their risk profiles and Additional CET1 ratio to Risk Weighted Assets (RWAs). Bucket 1 banks have the lowest CET1 surcharge, while Bucket 5 banks have the highest CET1 surcharge.
iv.Banks with assets exceeding 2% of India’s GDP (Gross Domestic Product) are considered for D-SIB classification and assigned a bucket to determine their CET1 requirements.
About Reserve Bank of India (RBI):
Governor – Shaktikanta Das
Deputy Governors – Swaminathan Janakiraman, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
Establishment– 1st April 1935
Headquarters– Mumbai, Maharashtra

ECONOMY & BUSINESS

MoF: PSBs Registers 11% Y-o-Y Growth in H1 of FY25 at Rs 236 trillionAccording to the Ministry of Finance (MoF) data released on 12th November 2024, the cumulative business of Public Sector Banks (PSBs) has shown strong Year-on-Year (Y-o-Y) growth of 11% in the 1st Half of the Financial Year (H1FY25) reached at Rs 236 trillion.

  • Also, the global credit and deposit portfolios of PSBs increased by 12.9% and 9.5% Y-o-Y to Rs 102.29 lakh crore and Rs 133.75 lakh respectively, during the same period of FY25.

Key Facts:
i.As per the MoF, the operating profit increased by 14.4% Y-o-Y to Rs 1.5 trillion while the net profit saw a growth of 25.6% at Rs 85,520 crore in H1FY25.
ii.The gross and net Non-Performing Assets (NPAs) stood at 3.12% and 0.63%, respectively in September 2024, decreased by 108 basis points (bps) and 34 bps Y-o-Y, reflecting better asset quality.
iii.The data revealed that the Capital to Risk Weighted Average Assets Ratio (CRAR) or Capital Adequacy Ratio (CAR) reached 15.43% in September 2024, against the regulatory requirement of 11.5%.
iv.PSBs have also made significant strides in adopting advanced technologies such as: Artificial Intelligence (AI)/Cloud/ Blockchain technology, among others, upgradation of existing digital infrastructure, putting in place necessary systems/ controls to counter cyber security risks and taking various steps to provide best-in-class customer services.
v.The MoF has acknowledged major banking reforms undertaken in the last few years, which led to the significant growth in banking industry such as: implementation of Enhance Access and Service Excellence (EASE), enactment of Insolvency and Bankruptcy Code (IBC), setting up of National Asset Reconstruction Company Limited (NARCL), and merger of PSBs, among others.
Note: Public Sector Banks(PSBs) are banks where the direct holding of the Central/State Government or other PSBs is 51% or more. Currently, there are 12 PSBs in India.
About Ministry of Finance (MoF):
Union Minister- Nirmala Sitharaman (Rajya Sabha- Karnataka)
Minister of State (MoS)- Pankaj Chaudhary (Constituency- Maharajganj, Uttar Pradesh, UP)

AP Signs MoU with RIL to invest Rs 65,000 cr for 500 CBG PlantsAP govt signs MoU with Reliance IndustriesThe Government of Andhra Pradesh (AP) has signed a Memorandum of Understanding (MoU) with Mumbai (Maharashtra)-based Reliance Industries Limited (RIL) to establish 500 compressed biogas (CBG) plants in the state over the next three years.

  • This initiative involves an investment of approximately Rs 65,000 crore, with each plant costing Rs 130 crore.
  • The MoU was signed in the presence of Andhra Pradesh (AP) Chief Minister (CM) N. Chandrababu Naidu, along with representatives of RIL and other state government officials, at the State Secretariat in Amaravati, AP.

Key Points:
i.The plants will be part of Reliance’s national target of setting up 2,000 CBG units.

  • This initiative aligns with AP’s Integrated Clean Energy (ICE) Policy – 2024, which aims to attract investments worth Rs 10 lakh crore.

ii.The project will utilize available wastelands for the construction of these state-of-the-art plants.
iii.The project is projected to generate financial benefits of Rs 57,650 crore over 25 years through State Goods and Services Tax (SGST), electricity duty, and employment taxes.

  • Producing 39 lakh metric tonnes (MT) of biogas annually will contribute significantly to the state’s Gross Domestic Product (GDP) and industrial growth.

iv.The project is expected to create approximately 2.5 lakh jobs, both directly and indirectly.
Note: According to GOBARdhan (Galvanising Organic Bio-Agro Resources Dhan) data, there are only 109 functional CBG/Bio CNG plants in India.
Implementation Strategy:
i.The state government will supply solid waste for gas production and has appointed Transmission Corporation of Andhra Pradesh Limited (APTRANSCO) Joint Managing Director (Jt. MD) Keerthi Chekuri to oversee the project.
ii.The foundation stone for first biofuel project is set to be laid on 28 December 2024, in Kanigiri, located in Prakasam district of AP.
About Andhra Pradesh (AP):
Chief Minister (CM)- N. Chandrababu Naidu
Governor– S. Abdul Nazeer
Capital– Amaravati
National Parks (NP)- Sri Venkateswara NP, Mrugavani NP

NTPC & ONGC Partnered to Form a Joint Venture Company
New Delhi(Delhi) based NTPC Limited (formerly National Thermal Power Corporation) and New Delhi based Oil and Natural Gas Corporation Limited(ONGC) has partnered to form a 50: 50 Joint Venture Company (JVC) through their Green Energy Subsidiaries – NTPC Green Energy Limited (NGEL) and ONGC Green Energy Limited (OGL).

  • ONGC NTPC Green Private Limited (ONGPL) was incorporated on November 18, 2024 to promote their interest in renewable and new energy.

Key points:
i.The JVC will involve in Renewable Energy (RE) and New Energy opportunities including Solar, Wind (Onshore/Offshore), Energy Storage (Pump/Battery), Green molecule (Green Hydrogen, Green Ammonia, Sustainable Aviation Fuel (SAF), Green Methanol), E-mobility, Carbon Credits, Green Credits, etc.
ii.The JVC will also acquire RE assets and participate in offshore wind tenders in Tamil Nadu (TN) and Gujarat.
Background: 
i.NGEL has submitted an application to the Ministry of Corporate Affairs (MoCA) for the incorporation of a 50:50 JVC with OGL.
ii.The JV Agreement was signed on 7th February 2024, during India Energy Week 2024.
iii.They have also received the required statutory approvals from Department of Investment and Public Asset Management (DIPAM), under the Ministry of Finance(MoF) and NITI Aayog (National Institution for Transforming India).
Note: NTPC Limited is a Maharatna Public Sector Undertaking (PSU) under the Ministry of Power and ONGC is a Maharatna PSU under Ministry of Petroleum and Natural Gas (MoP&NG)

AWARDS & RECOGNITIONS

UN Tourism Recognised 55 Villages as Best Tourism Villages for 2024UN Tourism Announces Best Tourism Villages 2024On 15th November 2024, United Nations (UN) World Tourism Organisation (UNWTO) announced the names of 55 villages including Caviahue-Copahue (Argentina), Sibayo (Peru), Xito (China), Tra Que Vegetable Village (Vietnam), among others were recognised as Best Tourism Villages for 2024.

  • This marks the 4th edition of the Best Tourism Villages initiative which highlights the role of rural destinations in promoting sustainable tourism, preserving cultural heritage and contributing to community development.
  • These villages were selected from over 260 applications from more than 60 UN Tourism Member states.

i.Among 55 Best Tourism Villages for 2024, 7 villages were selected from the BTV Upgrade Programme including: Ruboni (Uganda), Bo Suak (Thailand), among others.
ii.Also, 20 villages were selected to participate in the Upgrade Programme for year 2024 including Dhudmaras village located in Bastar district of Chhattisgarh, the only Indian village featured on the list.
About United Nations World Tourism Organisation (UNWTO):
Secretary-General- Zurab Pololikashvili
Headquarters- Madrid, Spain
Established- 1970
>> ReadFull News

ACQUISITIONS & MERGERS

LIC sold 2.02% stake in Tata Power for Rs 2,888 croreLIC sells stake in Tata PowerLife Insurance Corporation of India (LIC) sold more than 2.02% stake in Tata Power Company Limited for approximately Rs 2,888 crore. This strategic move reduces LIC’s shareholding in Tata Power from 5.906% (18,87,06,367 shares) to 3.881% (12,39,91,097 shares) of the company’s paid-up capital.
Details of the Sale:
i.Number of Shares Sold: LIC sold over 6.47 crore shares, amounting to a 2.025% stake.
ii.Average Sale Price: The shares were sold at an average price of Rs 446.402 each.
iii.Sale Period: The transactions were made between June 20, 2024, and November 11, 2024.
Key Note:
i.Tata Power, an Indian electric utility and generation company based in Mumbai, Maharashtra is part of the Tata Group.
ii.As of September 30, 2024, public shareholders own 53.1% of the company, while promoter entities hold 46.86%.

SCIENCE & TECHNOLOGY

DRDO Successfully Completed Flight Test of Guided Pinaka Weapon SystemDRDO successfully completes Flight Tests of Guided Pinaka Weapon SystemOn 14th November 2024, the Defence Research and Development Organisation (DRDO) successfully completed the flight test of Guided Pinaka, a Multi-Barrel Rocket Launcher (MBRL) Weapon System as part of Provisional Staff Qualitative Requirements (PSQR) Validation Trials.

  • These trials were conducted by DRDO in three phases across different field firing ranges.

About Flight Test:
i.During these tests, various parameters of PSQR including ranging, accuracy, consistency and rate of fire for multiple target engagement in a salvo mode were examined by extensive testing of rockets.
ii.These tests involved 12 rockets from each production agency from two in-service Pinaka launchers upgraded by the launcher production agencies.
About Guided Pinaka Weapon System:
i.It is named after Lord Shiva’s divine Bow Pinak. It has replaced the Russian Grad BM-21 rocket launcher for the Indian Army (IA).
ii.It consists of two pods, each containing 6 rockets and is capable of firing 12 rockets in salvo mode within 44 seconds (s), covering a target area of 700×500 meters (m).
iii.It is a indigenous weapon system designed and developed by DRDO’s Pune (Maharashtra)-based laboratory, Armament Research & Development Establishment (ARDE) in partnership with various agencies  such as: High Energy Materials Research Laboratory (HEMRL), Research Centre Imarat, Defence Research and Development Laboratory(DRDL) and Proof & Experimental Establishment (P&EE).

  • Munitions India Limited (MIL) and Economic Explosives Limited are the production agencies for ammunition.
  • While, Mumbai (Maharashtra-based Larsen & Toubro Limited (L&T) and Tata Power Company Limited (TPCL) are for Pinaka Launcher and Battery Command Post.

iv.This is the latest enhanced version of Pinaka weapon system which has demonstrated strike range of 75 kilometer (km) and has the capability to strike within 10m of its target.
Points to Note:
i.Pinaka Mk-I had a strike range of 37.5 km with limited accuracy of about 500 m.
ii.Pinaka Mk-II  with maximum strike range of 60 km.
About Defence Research and Development Organisation(DRDO):
It is the Research and Development (R&D) wing of Ministry of Defence (MoD), Government of India (GoI).
Chairman- Dr. Samir Vankatpati Kamat
Headquarters- New Delhi, Delhi
Established-1958

IAEA Launched PAAT Mobile App to Streamline Radiation Alarm Assessments at Airports & Borders
Vienna(Austria) based the International Atomic Energy Agency (IAEA) launched a mobile application “Personnel Alarm Assessment Tool (PAAT)” to support the frontline officers, like customs or law enforcement personnel, to assess radiation alarms triggered by people at airports, border crossings and other points of entry, and ease delays. This app is available in Arabic, English, French and Spanish.

  • PAAT is a part of IAEA suite of science and technology tools available to support countries in implementing nuclear security measures.
  • It was developed by the IAEA in collaboration with the Department of Physics, University of Sri Jayewardenepura(USJ), Sri Lanka.

Background
i.Passing through fixed radiation detection portals at airports is a part of travelers’ routines and a standard security precaution.
ii.In some cases, the alarms are set off by people who have undergone a medical treatment involving the use of radiopharmaceuticals. PAAT is expected to minimize the time required for this alarm assessment.
PAAT working: 
i.PAAT users insert data obtained from a brief interview with the person involved plus a radiation measurement.
ii.The app includes a catalogue of 70 radiopharmaceuticals used in nuclear medicine, and the measurement plus the interview produces a quantitative assessment of the likely source of the radiation that has been detected.
iii.This tool gives a red, yellow or green signal and provides important and immediate support for frontline officers in the assessment of the radiation source.
Note: This is similar to the Tool for Radiation Alarm and Commodity Evaluation (TRACE) mobile app, launched by the IAEA in 2017.

ENVIRONMENT

Scientists discover a new fire-resilient, dual-blooming species of Dicliptera in the Northern Western Ghats of IndiaScientists discover a new fire-resilient, dual-blooming species of Dicliptera in the Northern Western Ghats of Indiai.Scientists have discovered a new fire resilient dual blooming species of Dicliptera in the Northern Western Ghats of India. The new species genus Dicliptera, has been named Dicliptera polymorpha to reflect its diverse morphological traits.
ii.A team of scientists from MIT World Peace University (MIT-WPU) and Christ College has discovered a new species of damselfly in the Western Ghats of Kerala, named Melanoneura agasthyamalaica, or the “Agasthyamalai Bambootail.”
iii.Botanists have discovered a new species of flowering plant named ‘Crinum andhricum’ in the Eastern Ghats of Andhra Pradesh(AP). The species was named after Andhra Pradesh in recognition of the State where it was first found.
iv.A team of Indian botanists has discovered a new leafless orchid species named Gastrodia lohitensis, in Lohit in Arunachal Pradesh(AP). The new species was named after Lohit district.
v.Atharva Kulkarni, a post-graduate student from Maharashtra has discovered a new jumping spider species named “Okinawicius tekdi” from a hill located in Pune city, Maharashtra. The species belongs to genus Okinawicius Prószyński, first described from India in 2016.
Points to note:
The Ghats are mountain ranges in India, divided into three main regions:

  • Western Ghats: Gujarat, Maharashtra, Goa, Karnataka, Kerala, and Tamil Nadu.
  • Eastern Ghats: Odisha, Andhra Pradesh, Telangana, Tamil Nadu, and parts of Karnataka.
  • Northern Ghats: A section of the Western Ghats, primarily in Maharashtra, including regions like the Sahyadri Hills.

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IMPORTANT DAYS

World Day of Remembrance for Road Traffic Victims 2024 – November 17World Day of Remembrance for Road Traffic VictimsThe United Nations (UN) World Day of Remembrance (WDoR) for Road Traffic Victims is annually observed across the globe on the 3rd Sunday in November to pay tribute to victims of road traffic injuries and their families.

  • WDoR for Road Traffic Victims 2024 falls on November 17, 2024.
  • The slogan for WDoR for Road Traffic Victims 2024 is Remember. Support. Act.”

Background:
On 26 October 2005, the UN General Assembly (UNGA) adopted a resolution A/RES/60/5 on improving global road safety, by “designating the 3rd Sunday in November of every year as the WDoR for Road Traffic Victims.
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National Epilepsy Day 2024 –  November 17National Epilepsy DayNational Epilepsy Day(NED) is annually observed across India on 17th November to spread awareness about Epilepsy, a neurological disorder characterized by recurrent seizures. The NED also highlights epilepsy’s impact on individuals, families and communities.

  • The day offers a platform to eliminate the myths and misconceptions regarding epilepsy.
  • The purple ribbon is a symbol of epilepsy awareness.

Background: 
i.The General Body meeting of the Indian Epilepsy Association (IEA) held on 17th December 1990 in Indore, Madhya Pradesh (MP), the 17th November of every year was declared as the National Epilepsy Day(NED).
ii.The observance of National Epilepsy Day was proposed by the Indian physician couple – Dr Eddie Bharucha and Dr Piloo Bharucha.
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International Students’ Day 2024 – November 17International Students DayInternational Students’ Day is annually observed across the globe on November 17 to celebrate multiculturalism, diversity, and teamwork among students. The day aims to ensure that every child worldwide has access equal educational opportunities.

  • 17th November 2024 marks the observance 84th International Students’ Day.
  • The day marks the anniversary of the events that followed the Nazi invasion of Charles University in Prague, Czeh Republic, in 1939.

Background:
i.During World War II, Nazi forces invaded Czechoslovakia and occupied Charles University in Prague in 1939.
ii.Following the student protest against the occupation, the Nazis closed down universities, arrested hundreds of students and executed nine student leaders.
iii.To honor the courage and sacrifice of students who fought for academic freedom and human rights, this day was chosen to be International Students’ Day.
iv.The first-ever International Students’ Day was observed on 17th November 1941.

  • It was observed by the International Students’ Council in London, The United Kingdom (UK).

Note: The Organising Bureau of European School Student Unions (OBESSU) annually raises awareness for students’ rights.
Velvet Revolution:
i.The Velvet Revolution was ignited in Prague, by demonstrations commemorating the 50th anniversary of International Students’ Day on 17th November 1989.
ii.The velvet revolution ended more than 40 years of communist rule in Czechoslovakia and catalysed the process of democratization in the Czech Republic and Slovakia.
iii.The 17th of November is also marked as Freedom and Democracy Day in both Czech Republic and Slovakia.

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Current Affairs Today (AffairsCloud Today)

Current Affairs 21 November 2024
India-IEA MoU for Cooperation in Critical Minerals
CEA: India’s Renewable Energy Hits New Milestone as Installed Capacity Surpasses 200 GW
27th Energy Technology Summit held from 12th – 14th November 2024 
White Category Industries Exempted from SPCB Approval Requirements
MoHUA and UN-Habitat signs MoU for Sustainable development in Urban areas
MoC launches “Amrit Parampara” to showcase India’s cultural heritage
FTII’s short film “Sunflowers Were the First Ones to Know” Qualified for Oscar 2025
India & Japan Signed agreement to Stealth UNICORN Mast for Navy Warships
SBI, HDFC Bank, ICICI Bank named in RBI’s 2024 list of D-SIBs
MoF: PSBs Registers 11% Y-o-Y Growth in H1 of FY25 at Rs 236 trillion
AP Signs MoU with RIL to invest Rs 65,000 cr for 500 CBG Plants
NTPC & ONGC Partnered to Form a Joint Venture Company
UN Tourism Recognised 55 Villages as Best Tourism Villages for 2024
LIC sold 2.02% stake in Tata Power for Rs 2,888 crore
DRDO Successfully Completed Flight Test of Guided Pinaka Weapon System
IAEA Launched PAAT Mobile App to Streamline Radiation Alarm Assessments at Airports & Borders
Scientists discover a new fire-resilient, dual-blooming species of Dicliptera in the Northern Western Ghats of India
World Day of Remembrance for Road Traffic Victims 2024 – November 17
National Epilepsy Day 2024 –  November 17
International Students’ Day 2024 – November 17

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