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NATIONAL AFFAIRS
7th Session of ISA Assembly held in New Delhi from November 3rd to 6th,2024
The 7th Session of the International Solar Alliance (ISA) was conducted from 3rd to 6th November 2024 in Bharat Mandapam, New Delhi with ministers from 29 countries.
- Ministers, mission heads, and delegates from 120 Member and Signatory Countries (103 Member and 17 Signatory Countries), along with partner organizations and stakeholders, participated in the event.
- The aim of the event was to enhance solar energy deployment across its Member Countries, particularly in regions with limited energy access.
About International Solar Alliance (ISA):
Director General– Ashish Khanna
Headquarters – Gurugram, Haryana
Signatories– 120 countries
>> Read Full News
Cabinet Approved PM-Vidyalaxmi Scheme to Provide Financial Assistance to Meritorious Students
On 6th November 2024, the Union Cabinet chaired by Prime Minister (PM) Narendra Modi, has approved PM Vidyalaxmi, a new Central Sector Scheme (CSS) which aims to provide financial assistance to meritorious students, ensuring that financial constraints do not hinder anyone from pursuing higher studies.
- As per the scheme, any meritorious student who gets admission in Quality Higher Educational Institutions (QHEIs) will be eligible to get collateral free, guarantor-free loan from banks and financial institutions (FIs) to cover tuition fees and other course-related expenses.
i.The GoI has allocated Rs 3,600 crore for the scheme during the period from Financial Year 2024-25 (FY25) to FY31, and 7 lakh new students are students are expected to avail the benefit of this interest subvention during the period.
ii.The Cabinet Committee on Economic Affairs (CCEA) chaired by PM Narendra Modi has approved an equity infusion of Rs 10,700 crore for the Food Corporation of India (FCI), to support its working capital requirements for the Financial Year 2024-25 (FY25).
About Food Corporation of India (FCI):
It is a statutory body established under the FCI Act, 1964, to implement the food policy of the government. It works under the Ministry of Consumer Affairs, Food and Public Distribution (MoCAF&PD).
- Its main objective is to ensure Minimum Support Price (MSP) to farmers, maintain buffer stock and distribution of food grains under National Food Security Act, 2013.
Chairman & Managing Director (CMD)- Ashok K. K. Meena
Headquarters- New Delhi, Delhi
Established – 1965
>> Read Full News
Ministry of Coal organizes Star Rating Awards Ceremony & Stakeholder Consultation on MDOs 
The Ministry of Coal successfully organized an event in New Delhi, Delhi featuring the Star Rating Awards Ceremony for Coal & Lignite Mines, a Stakeholder Consultation on Mine Developers cum Operators (MDOs), and the release of the Coal Directory of India.
- The Chief Guest of the event was Union Minister Gangapuram Kishan Reddy, Ministry of Coal, and the Guest of Honour was Union Minister of State (MoS) Satish Chandra Dubey, Ministry of Coal.
i.43 coal mines achieved 5 star rating for the year 2022-23 for exceptional performance in mining operations, environmental practices, and worker safety.
- 4 mines ranked first, 2 ranked second, and 6 ranked third.
ii.Neyveli(Tamil Nadu, TN) based NLC India Limited (NLCIL) mines achieved top scores and 5-star rating in the survey of lignite and coal-based open cast mines in India in the year 2022-23.
iii.The Ministry of Mines also presented “Adarsh Karmayogi Awards” to 13 employees who completed over 100 courses on the iGOT((Integrated Government Online Training) Karmayogi portal.
About Ministry of Coal:
Union Minister– G. Kishan Reddy (Constituency- Secunderabad, Telangana)
Minister of State (MoS)– Satish Chandra Dubey(Rajya Sabha- Bihar)
>> Read Full News
INTERNATIONAL AFFAIRS
16th Meeting of the CBD COP Held in Cali, Colombia
The 16th meeting of the Conference of the Parties to the Convention on Biological Diversity (CBD COP 16) was conducted from 21st October to 1st November 2024 in Cali, Colombia.
- The theme of the conference was “Peace with Nature “.
- The conference’s main goal was to assess progress on the 2022 Kunming-Montreal Global Biodiversity Framework (KM-GBF), which set targets to protect 30% of global land and sea areas and restore 30% of degraded ecosystems by 2030.
- Union Minister of State for Environment, Forests and Climate Change(MoEFCC)Kirti Vardhan Singh delivered the national statement regarding the conservation of biological resources in the 16th meeting of the Conference of Parties (CoP) to the Convention on Biological Diversity, in Cali, Colombia on 29th October 2024.
- India has taken a significant step in global wildlife conservation by setting up the International Big Cat Alliance(IBCA) to protect the world’s seven major big cat species for preserving ecosystems and enriched biodiversity.
- World’s First of its kind Global Ecosystems Atlas at the 16th Conference of Parties (COP16) has been launched to the United Nations Convention on Biological Diversity (CBD) on 22nd October 2024.
- The Protected Planet Report 2024 is the first official evaluation of global progress on all elements of Target 3 since the Framework was adopted in 2022.
- UN COP16 summit agreed to establish a subsidiary body that will include Indigenous peoples in future decisions on nature conservation.
About International Union for Conservation of Nature (IUCN)
Established: 1948
Headquarters: Gland, Switzerland
President – Razan Al Mubarak
About United Nations
Secretary-General – António Guterres
Headquarters– New York, United States of America (USA)
Founded – 1945
Member States – 193
>> Read Full News
Highlights of Union Minister Piyush Goyal’s visit to Saudi Arabia from 29 to 30 October 2024
Union Minister Piyush Goyal, Ministry of Commerce and Industry(MoC&I), visited the Kingdom of Saudi Arabia from 29th to 30th October 2024. He participated in the 8th Future Investment Initiative (FII8) and co-chaired the 2nd Ministerial Meeting of the Economy and Investment Committee in Riyadh, Saudi Arabia.
i.He launched the Lulu Wali Diwali Festival at the Lulu Hypermarket in Riyadh furthering India-Saudi cultural and economic ties.
ii.Union Minister unveiled the One District, One Product (ODOP) Wall, featuring unique products from various districts across India, at the Indian Embassy in Riyadh.
About Saudi Arabia:
Crown Prince and Prime Minister(PM)– Mohammed bin Salman Al Saud
Capital– Riyadh
Currency– Saudi Riyal
>> Read Full News
Highlights of CDS General Anil Chauhan’s Visit to Algeria from October 31 to November 03, 2024
Chief of Defence Staff (CDS) General Anil Chauhan visited the People’s Democratic Republic of Algeria from 31st October to November 03, 2024. This visit follows on the President of India, Smt Droupadi Murmu’s visit to Algeria in October 2024.
i.On 1st November 2024, CDS Gen. Chauhan attended the military parade and ceremony as the Guest of Honour. The event was organised to commemorate the 70th anniversary of Algeria’s Glorious revolution of 1 November, 1954.
ii.On 3rd November, 2024, CDS General Anil Chauhan and General Saïd Chanegriha Chief of Staff of PNA, Algeria signed a Memorandum of Understanding (MoU) on bilateral defence cooperation in Algeria.
About People’s Democratic Republic of Algeria:
President- Abdelmadjid Tebboune
Capital- Algiers
Currency- Algerian Dinar
>> Read Full News
More than One in Three Species Threatened with Extinction Finds IUCN’s 1st Global Tree Assessment
According to the 1st comprehensive Global Tree Assessment published in an update of the International Union for Conservation of Nature’s (IUCN) Red List of Threatened Species on 28th October 2024, nearly 38% of world’s tree species are now facing extinction i.e. over one in three tree species is at risk of extinction.
- The key findings of the assessment were announced at the 16th Conference of Parties (COP16) to the Convention on Biological Diversity currently being held in Cali, Columbia.
i.The latest assessment revealed that at least 16,425 of the 47, 282 tree species assessed are at risk of extinction.
ii.As per the study, the highest proportion of threatened trees is found on islands as trees on islands are at particularly high risk due to deforestation for urban development and agriculture as well as invasive species, pests and diseases.
About International Union for Conservation of Nature (IUCN):
Director-General (DG)- Dr. Grethel Aguilar
Headquarters- Gland, Switzerland
Established– 1948
>> Read Full News
BANKING & FINANCE
ADB issues First Biodiversity and Nature Bond worth USD 100 million
The Asian Development Bank (ADB) has issued its first biodiversity and nature-focused bond worth USD 100 million to fund vital conservation projects across Asia and the Pacific.
- The bond was announced at the 16th Conference of the Parties for the Convention on Biological Diversity (COP16) in Cali, Republic of Colombia.
Key Points:
i.The 10 year bond was issued under ADB’s Theme Bonds for Sustainable Development program in collaboration with its Environment group.
ii.The bond issuance, purchased by Japan- based Dai-ichi Life Insurance Company Limited and arranged by France- based Credit Agricole (CIB) (an international banking group), marks a significant step in ADB’s commitment to advancing sustainable development.
iii.ADB’s theme bonds for sustainable development attract private capital to support the United Nation (UN) Sustainable Development Goals (SDGs) and the Kunming-Montreal Global Biodiversity Framework (GBF), providing investors a secure option backed by ADB’s AAA credit rating.
Initiatives taken by ADB:
i.The ADB has a longstanding commitment to environmental protection, focusing on biodiversity and nature conservation.
- As a founding partner of the Coral Triangle Initiative (CTI) since 2009, ADB has contributed to preserving one of the world’s most vital marine ecosystems.
ii.In 2021, ADB, along with nine other multilateral development banks, issued the Joint Statement on Nature, People, and Planet at the Glasgow Climate Community of Practice (CoP), reinforcing their commitment to environmental sustainability.
iii.In 2023, ADB launched the Nature Solutions Finance Hub and the Natural Capital Fund with the Global Environment Facility (GEF), supporting innovative conservation efforts.
iv.ADB is preparing to launch its Environment Action Plan 2024–2030: Towards a Nature Positive Asia and the Pacific.
This plan will outline ADB’s roadmap for addressing climate change, biodiversity loss, and pollution, further reinforcing its commitment to a sustainable future for the region.
Asian Development Bank (ADB):
President– Masatsugu Asakawa (Japan)
Headquarters– Manila, The Philippines
Members– 69
Established -1966
About Republic of Colombia:
President– Gustavo Petro
Capital– Bogota
Currency– Colombian Peso(COP)
RBI Released 43rd Half Yearly Report on Management of Foreign Exchange Reserves
On 29th October 2024, the Reserve Bank of India (RBI) released its 43rd Half Yearly report from April to September 2024 on Management of Foreign Exchange Reserves (MFER).
- As per the report, India’s foreign exchange reserves position as on 18th October 2024 was projected at USD 688.27 billion, of which USD 598.24 billion in Foreign Currency Assets (FCA), Gold worth USD 67.44 billion, Special Drawing Rights (SDRs) of USD 18.27 billion and Reserve Tranche Position (RTP) of USD 4.32 billion.
i.According to the RBI’s latest Half-Yearly report, FER has increased from USD 646.42 billion (as on 31st March, 2024) to USD 705.78 billion (as on 30th September 2024),
ii.The report showed India’s FER on a balance of payments (BoP) basis, excluding valuation effects, has increased by USD 5.2 billion during April-June 2024 against the increase of USD 24.4 billion during the same period of last year.
About Reserve Bank of India (RBI):
Governor- Shaktikanta Das (25th Governor of RBI)
Headquarter- Mumbai, Maharashtra
Established- 1 April, 1935
>> Read Full News
AWARDS & RECOGNITIONS
Indian Actor Darasing Khurana Receives the Mahatma Gandhi Leadership Award in UK
Indian Actor and philanthropist Darasing Khurana has received the “Mahatma Gandhi Leadership Award” for his work towards raising awareness around mental health issues as the ‘Commonwealth Year of Youth Champion’ at the University of Oxford’s Ashmolean Museum in the United Kingdom (UK).
- Darasing Khurana recognised for his significant contributions to the field of arts and his unwavering commitment to social causes.
i.He served as the keynote speaker at the Global Mental Health Summit 2024 held at the Oxford Union at the University of Oxford, the UK.
ii.He attended the Commonwealth Heads of Government Meeting (CHOGM) in Apia(Samoa), where he moderated a session on mental health.
iii.In 2024, he was also honoured with the “International Personality of the Year 2024” award by AsiaOne magazine.
APPOINTMENTS & RESIGNATIONS
RBI approves Pranav Chawda as CEO of JP Morgan Chase Bank India
The Reserve Bank of India (RBI) approved Pranav Chawda’s appointment as Chief Executive Officer (CEO) of JP Morgan Chase & Co’s domestic banking unit, JP Morgan India, for a three-year term.
- He replaces Prabhdev Singh, who resigned in June 2024 before finishing his tenure.
i.In his new role, Chawda will also lead the corporate banking division, reflecting the bank’s strategy to combine its commercial and corporate banking services.
ii.He joined JP Morgan in 2019 as the head of client banking and specialized industries, focusing on midsized companies based in India.
Note: The centers of JP Morgan India in Mumbai(Maharashtra), Bengaluru(Karnataka), and Hyderabad(Telangana) provide global support for operations.
ACQUISITIONS & MERGERS
Mankind Pharma completes Rs 13,768 Cr Acquisition of BSV
Delhi (New Delhi) based pharmaceutical company Mankind Pharma Limited has completed the acquisition of a 100% stake in Mumbai(Maharashtra) based Bharat Serums and Vaccines Limited (BSV) for Rs. 13,768 crores to strengthen its leadership in the Indian women’s health, critical care and fertility drug market.
- The transaction was funded through internal accruals and external debt, arranged through a combination of non-convertible debentures (NCDs) and commercial papers.
i.This acquisition opens a new chapter in Mankind’s journey, as the addition of over 2,500 BSV team members strengthens the foundation for accelerated growth and enhanced capabilities.
ii.BSV has a specialized portfolio in women’s health, offering products that span from fertility drugs to post-pregnancy therapies, along with a presence in the animal bites category, including treatments like snake venom antiserum and equine rabies immunoglobulin (Ig).
SCIENCE & TECHNOLOGY
NASA Unveils Prototype Telescope for First Space-Based Gravitational Wave Detector
The United States of America (USA) based National Aeronautics and Space Administration (NASA) unveiled the prototype for six telescopes known as the Engineering Development Unit Telescope which is expected to study gravitational waves in outer space.
- The Telescope was manufactured and assembled by L3Harris Technologies in Rochester, New York, the USA.
Key Point:
i.The telescope was built as part of a joint mission with the European Space Agency (ESA) called Laser Interferometer Space Antenna (LISA), a triangular formation of 3 spacecraft. It is expected to launch in the mid-2030s.
- The main aim of the LISA mission is to study gravitational waves by putting three spacecrafts into the Earth’s orbit and putting them in a triangular format with 1.6 million miles on each side.
ii.Each of the spacecraft will consist of two telescopes to detect infrared laser beams from the other spacecraft. A gravitational wave can be detected when one of the three spacecrafts change their characteristic pattern.
iii.The prototype is made entirely from an amber-colored glass-ceramic called Zerodur, which is manufactured by Schott in Mainz, Germany.
iv.The primary mirror is coated in gold to better reflect the infrared lasers and to reduce heat loss from a surface exposed to cold space as the telescope will be most operational when close to room temperature.
What are gravitational waves?
i.The Gravitational waves were first discovered by Albert Einstein in 1916.
ii.They are created due to two black holes colliding with each other.
iii.In 2016, the Laser Interferometer Gravitational-wave Observatory (LIGO) Scientific Collaboration comprising National Science Foundation, Caltech, and Massachusetts Institute of Technology (MIT) researchers detected the first gravitational waves ever, which proved the credibility of Einstein’s theory.
About National Aeronautics and Space Administration (NASA)
Administrator – Bill Nelson
Headquarters – Washington, D.C., the United States of America(USA)
Founded – 1958
SPORTS
U-23 Wrestling World Championships 2024: Chirag Chikkara clinches gold as India shine with nine medals
Indian wrestler Chirag Chikkara won a gold medal in the men’s freestyle 57kg category by defeating Abdymalik Karachov of Kyrgyzstan in the finals of the 7th edition of United World Wrestling (UWW) Under-23 (U23) World Wrestling Championships 2024 held from 21st to 27th October 2024 in Tirana, Albania.
- The 18-year-old became only the second Indian men’s wrestler and third overall to win the gold medal at the U23 World Championships.
- Aman Sehrawat (57kg) became the first Indian to win the gold medal in 2022. Reetika Hooda was secured a gold medal in the women’s 76kg category in 2023. In 2018, Ravi Kumar Dahiya clinched a silver medal in the 57kg category.
- India clinched a total of nine medals including one gold, one silver and seven bronze, placing the nation fourth in the team standings with 82 points, behind Iran (158), Japan (102) and Azerbaijan (100).
Note
Before winning the U-23 championship in Albania, Chirag had competed at the U-15 Asian Championships in Iran as well as the Cadet World Championships in Budapest in 2021, where he won a bronze medal.
Key Highlights of the Tournament
i.Anjli won the only silver medal for India in the women’s 59kg.
ii.Vicky won the bronze in the men’s 97kg to become the first Indian to medal in a heavyweight category at the U23 World Championships.
iii.With four medals in the men’s freestyle wrestling, India finished fourth in the segment behind Iran, Japan and Azerbaijan.
iv.Indian women’s freestyle wrestling contingent finished fifth, winning four medals.
v. In the Greco-Roman category, India finished at the 12th spot, with only one bronze medal in the 55kg category.
Result
| Wrestler | Category | Medal |
|---|---|---|
| Chirag Chikkara | Men’s freestyle 57kg | Gold |
| Anjli | Women’s freestyle 59kg | Silver |
| Vishvajit More | Men’s Greco Roman 55kg | Bronze |
| Monika | Women’s freestyle 68kg | |
| Neha Sharma | Women’s freestyle 57kg | |
| Shiksha | Women’s freestyle 65kg | |
| Abhishek Dhaka | Men’s freestyle 61kg | |
| Sujeet Kalkal | Men’s freestyle 70kg | |
| Vicky | Men’s freestyle 97kg |
About United World Wrestling:
Headquarters – Corsier-sur-Vevey, Switzerland
President – Nenad Lalovic
Members – 176 national federations
BOOKS & AUTHORS
Financial Expert Ajay Thakur launched his New Book titled “Vision to Victory : Unleashing India’s SME platform”
Financial expert Ajay Thakur launched his new book titled “Vision to Victory : Unleashing India’s Small and Medium Enterprises (SME) platform”. The book was published by Invincible Publications Private Limited (INPPL).
i.The book covers topics such as the power of belief, the growth of SME platforms, and the recovery after COVID-19, featuring inspiring success stories of SMEs that have flourished post-listing on exchange SME platforms.
ii.SMEs form the backbone of India’s economy, generating over 45% of the industrial output and contributing nearly 30% of the nation’s employment.
Note: Ajay Thakur, a financial expert with nearly 26 years of capital market experience, has played a pivotal role in establishing and developing the SME platform at the Bombay Stock Exchange (BSE).
IMPORTANT DAYS
International Day of Radiology 2024- November 8
International Day of Radiology (IDoR) or World Radiography Day is annually observed across the globe on 8 November to honors the vital role of radiographers and radiological technologists in healthcare. and to celebrate their contributions to diagnosing and treating countless medical conditions.
- IDoR was created to mark the anniversary of the discovery of X-rays by Wilhelm Conrad Röntgen, a German physicist and the winner of the first Nobel Prize in Physics (1901), in 1895.
- 8th November 2024 marks the observance of the 13th International Day of Radiology (IDoR).
- The theme for IDoR 2024 is “ Radiographers: Seeing the Unseen.”
- The IDoR was established in 2011 as a follow-up to the European Day of Radiology (EDoR).
About European Society of Radiology (ESR):
Chair- Carlo Catalano
President- Andrea G. Rockall
Membership- 130,316 members across 186 countries
Headquarters- Vienna, Austria
Founded- 2005
>> Read Full News
World Urbanism Day 2024 – November 8
World Urbanism Day (WUD), also known as World Town Planning Day (WTPD), is annually observed across the globe on 8th November to recognise and promote the role of planners and planning in developing healthy, sustainable communities.
- The day is promoted by the International Society of City and Regional Planners (ISOCARP).
- The theme for World Town Planning Day 2024 is “Homes Start with Planning”
Background:
i.WTPD was initially proposed in 1949 by Late Professor Carlos Maria della Paolera of the University of Buenos Aires (Argentina).
ii.In India, World Town Planning Day is organized by New Delhi(Delhi) based Institute of Town Planners India, which was established in 1951.
About International Society of City and Regional Planners (ISOCARP):
President– Pietro Elisei
Headquarters – The Hague, The Netherlands
Founded – 1965
>> Read Full News
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