Current Affairs 26 & 27 November 2023

We are here for you to provide the important Recent and Latest Current Affairs 26 & 27 November 2023, which have unique updates of Latest Current Affairs 2023 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.

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NATIONAL AFFAIRS

7th edition of Bengal Global Business Summit held in Kolkata, West BengalGovernment of West Bengal organized the 7th edition of Bengal Global Business Summit which was held from November21 to 22, 2023 in Kolkata, West Bengal. The summit aimed to bring together business leaders, academia, entrepreneurs and think tanks across the globe with the objective of making strategic and business alliances about industrial ecosystem and business friendly initiatives of state.
i.Signing of 188 MoUs, Letter of Intent (LoI) in different sectors
During the 7th edition of Bengal Global Business summit, Mamta Bannerjee (Chief Minister, West Bengal) announced that West Bengal attracted investment worth Rs3.76 Lakh crore which includes signing of 188 MoUs and Letter of Intent (LoI) in different sectors.
ii.Reliance Industries pledge to invest Rs20000 crore in West Bengal
iii.ITC(India Tobacco Company) Limited launched the ITCMAARS App
iv.NSE and West Bengal signed a MoU to raise fundraising for SMEs (Small and Medium Enterprises)
v.WTC-NDITA signed MoU with WTC of 5 Metro Cities
vi.Uber inks MoU with West Bengal Government for Bus Shuttle Service
vii.Amazon and WBIDC join hands to boost Exports from Bengal
Additional Information:
About: West Bengal
Capital: Kolkata
Chief Minister: Mamta Bannerjee
Governor: C.V. Ananda Bose
National Parks: Sunder bans National Park, Singalila National Park, Jaldapara National Park
Airport: Netaji Subash Chandra Bose International Airport, Bagdogra International Airport

About: NSE(National Stock Exchange)
It is the largest financial market in India.
Established: 1992
Chairman: Girish Chandra Chaturvedi
Headquarter: Mumbai, Maharashtra
>> Read Full News

SURYA KIRAN- XVII: India-Nepal joint Training Exercise begins at Uttarakhand Surya Kiran XVII, the 17th Edition of the Indo-Nepal joint training Exercise began at Pithoragarh, Uttarakhand. The exercise between Indian Army and Nepal Army will be conducted from 24th November to 7th December 2023.
About Surya Kiran: 
i.Surya Kiran the bilateral joint military exercise between the armies of India and Nepal is held every year since 2011.
ii.The exercise is conducted alternatively in India and Nepal.

• Surya Kiran XVI, 16th edition of the exercise was held at Saljhandi, Nepal in December 2022.

Note: Previously, the Surya Kiran series was conducted as a bi-annual event.
Surya Kiran 2023:
Representatives:
The Indian Army contingent comprising of 354 personnel is led by a Battalion from the Kumaon Regiment.
The Nepal Army contingent comprising of 334 personnel is represented by Tara Dal Battalion.
Aim:
To enhance interoperability in jungle warfare, counter terrorism operations in mountainous terrain and Humanitarian Assistance and Disaster Relief under United Nations(UN) Charter on peace keeping operations
Key Points:
The exercise will focus on employment of drones and counter drone measures, medical training, aviation aspects and also environment conservation.
This will offer a platform for the soldiers to exchange ideas and experiences; share best practices and foster a deeper understanding of each other’s operational procedures.

India becomes Chair of International Sugar Organisation for 2024 On November 24, 2023, India became the Chair of International Sugar Organisation (ISO), apex international body on sugar and relating products, for 2024. This was announced during the 63rd council meeting of ISO in London, United Kingdom (UK).

• Sanjeev Chopra, Secretary, Department of Food and Public Distribution in the Ministry of Consumer Affairs, Food & Public Distribution attended the meeting.

Key Points:
i.As the Chair of ISO, India will lead the global sugar sector.
ii.India will focus on uniting the members of ISO to adopt more sustainable practices in sugarcane cultivation, sugar and ethanol production and better utilisation of by-products.
Key Facts:
i.India is the largest consumer and second largest producer of sugar in the world with 15% share in global sugar consumption and about 20% production of sugar
ii.India is the market leader in Eastern Hemisphere for sugar market, while Brazil leads the Western Hemisphere.
iii.It is the 3rd largest country in the world in ethanol production after the United States of America (USA) and Brazil.
iv.India is the highest cane price payer to its farmers, and manages to operate efficiently and remains profitable in the sugar sector.
v.The National Sugar Institute in Kanpur, Uttar Pradesh (UP) has extended its influence globally, collaborating with countries such as Indonesia, Nigeria, Egypt, and Fiji.
India Achieves 12% Ethanol Blending with Petrol in ESY 2022-23
Ethanol blending percentage in India has increased from 5% in 2019-20 to 12% in Ethanol Supply Year (ESY) 2022–23 (December 2022–October 2023) while the production has increased from 173 crore litres to more than 500 crore litres during the same period.

• The target for ESY 2023–24 (November 2023–October 2024) is 15%.

About International Sugar Organisation (ISO):
Executive Director– José Orive
Establishment– 1937
Headquarters– London, United Kingdom
Members– 88 countries

INTERNATIONAL AFFAIRS

UNEP’s Emissions Gap Report 2023 insists on Accelerating Measures To Combat Global Warming As per the 14th edition of Emissions Gap Report 2023:Broken Record: Temperatures hit new highs, yet world fails to cut emissions (again), released by the United Nations Environment Programme (UNEP) the world must reduce greenhouse gas (GHG) emissions by at least 28-42% by 2030 to limit warming to 2°C and 1.5°C, respectively.
Findings:
i.The report warns that if countries fail to reduce GHG emissions, then global temperatures will be increased by 2.5 to 2.9 degrees Celsius above pre-industrial levels.
ii.The report emphasizes that the only way to prevent exceeding the 1.5°C limit is to accelerate implementation action in this decade.
iii.If GHG emissions reduction is delayed, then this will lead to a greater future reliance on carbon dioxide (CO2) removal from the atmosphere.
Progress:
i.There has been some progress since the Paris Agreement was signed 2015.
ii.Earlier, GHG emissions in 2030 were projected to increase by 16%. As of now it stands at 3% which shows the progress.
iii.The global implementation gap for 2030 is projected to be around 1.5 gigatonnes of carbon dioxide equivalent (GtCO2e) for unconditional Nationally Determined Contributions (NDCs)

• Earlier it was projected at 3 GtCO2e.

iv.For conditional NDCs, the implementation gap is projected to be around 5 GtCO2e, reflecting a 1 GtCO2e decrease from the 2022 estimate.
Present Scenario:
i.Under current policies, global warming is projected to reach 3 degrees Celsius above pre-industrial levels by 2100.
ii.Even if countries fulfill their unconditional NDCs, warming would still reach 2.9 degrees.

• By fulfilling their conditional NDCs, temperature rise will be at 2.5 degrees.

iii.In a scenario where all conditional NDCs and net-zero pledges are achieved, the 2°C temperature goal could be reached.
Even in Optimistic case:
i.The report highlighted that none of the Group20 (G20) countries are currently reducing emissions at a rate consistent with their net-zero targets.
ii.Even in the most optimistic scenario, the likelihood of limiting warming to 1.5 degrees Celsius is only 14%.
Need of the hour:
i.The report stresses the urgent need for all countries to expedite their transitions to low-carbon economies across all sectors.
ii.While recognizing the economic and institutional hurdles faced by low- and middle-income countries (LMICs) in adopting low-carbon development pathways, the report also underscores the potential opportunities they can harness to achieve this transformation.
Additional Info:
i.The 28th session of the Conference of the Parties (COP28) is scheduled to happen in United Arab Emirates (UAE) from 30 November – 12 December 2023.
ii.UNEP releases three climate-related assessments in 2023 namely,

• Adaptation Gap Report 2023: Underfinanced. Underprepared – Inadequate investment and planning on climate adaptation leaves world exposed
• Emissions Gap Report 2023:Broken Record: Temperatures hit new highs, yet world fails to cut emissions (again),
• Production Gap Report: “Phasing down or phasing up? Top fossil fuel producers plan even more extraction despite climate promises”

BANKING & FINANCE

IndusInd Bank and IGL Partner to Enable Digital Rupee Transactions In Delhi NCR IndusInd Bank Limited has partnered with Indraprastha Gas Limited (IGL)
to promote Digital Rupee (e₹), the Central Bank Digital Currency (CBDC) launched by the Reserve Bank of India (RBI).

• The collaboration aims to promote cashless transactions at IGL Compressed Natural Gas (CNG) Stations in Delhi National Capital Region (NCR).

About the partnership:
i.The customer can also make payment across all IGL stations by scanning any UPI Quick Response (QR) Code using their Digital Rupee mobile application.
ii.This initiative offers a secure, inclusive, sustainable and efficient mode of digital transaction
iii.The process ultimately simplifies the banking experience of the customers.
About e₹:
i.Digital Rupee (e₹) is the form of a digital token that represents legal tender.
ii.It was launched as a pilot project in 2022.
iii.It is being issued in the same denominations like paper currency and coins.
iv.It is being distributed through banks.
v.e₹ will not earn any interest and can be converted to other forms of money, like deposits with banks.
vi.It offers various features such as peer-to-peer (P2P) and peer-to-merchant (P2M) payments with complete UPI QR interoperability.
About Indraprastha Gas Limited (IGL):
Managing Director (MD) – Kamal Kishore Chatiwal
Headquarters –  New Delhi, Delhi
Established in – 1998
About IndusInd Bank Limited(Ltd):
Managing Director(MD) & Chief Executive Officer(CEO) – Sumant Kathpalia
Headquarters – Mumbai, Maharashtra
Established in – 1994
Tagline – We Make You Feel Richer

RBI Supersedes Abhyudaya Co-operative Bank Board & Appoints AdministratorOn November 24, 2023, the Reserve Bank of India (RBI) in exercise of the powers conferred under Section 36 AAA read with section 56 of the Banking Regulation (BR) Act, 1949 (As Applicable to Co-operative Societies), has superseded the board of directors of Abhyudaya Cooperative Bank Limited for 12 months (1 year) amid poor governance standards of the latter.

• In this regard, RBI appointed Satya Prakash Pathak, former Chief General Manager of State Bank of India (SBI), as the administrator of the bank.

Key Points:
i.The RBI has also appointed a committee of advisors to assist the administrator. Its members are

• Venkatesh Hegde (former General Manager, SBI)
• Mahendra Chhajed (Chartered Accountant)
• Suhas Gokhale (former MD, COSMOS Co-operative Bank Limited).

ii.RBI has not placed any business restrictions on the bank and it will continue to operate normally
RBI Imposes Monetary Penalty on Citibank, BoB and IOB
RBI has imposed a monetary penalty on three banks viz. Citibank N.A. (Rs 5 crore), Bank of Baroda/BOB (Rs 4.34 crore) and Indian Overseas Bank/IOB (Rs 1 crore) for non-compliance with some of its Directions.

• This will not affect any transaction or agreement entered into by the bank with its customers.

Penalty on Citibank N.A.: Rs 5 crore
It has been imposed by RBI in exercise of powers under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the BR Act.

• Reason: For contravention of Section 26A of BR Act, 1949 read with Paragraph 3 of ‘The Depositor Education and Awareness Fund Scheme, 2014 – Section 26A of Banking Regulation Act, 1949 – Operational Guidelines’, Section 10(1)(b)(ii) of the BR Act, and non-compliance with RBI Directions on ‘Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks’ read with ‘RBI (Know Your Customer (KYC)) Direction, 2016’.

Penalty on BOB: Rs 4.34 crore
It has been imposed by RBI in exercise of powers vested in RBI conferred under the provisions of Section 47 A (1) (c) read with Sections 46 (4) (i) and 51(1) of BR Act, 1949.

• Reason: For non-compliance with certain directions issued by RBI on ‘Creation of a Central Repository of Large Common Exposures – Across Banks’ dated September 11, 2013 read with ‘Central Repository of Information on Large Credits (CRILC) – Revision in Reporting’ dated February 13, 2014, ‘Loans and Advances – Statutory and Other Restrictions’, and ‘RBI (Interest Rate on Deposits) Directions, 2016’.

Penalty on IOB: Rs 1 Crore
It has been imposed by RBI in exercise of powers vested in RBI conferred under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of BR Act, 1949.

• Reason: For non-compliance with certain directions issued by RBI on ‘Loans and Advances – Statutory and Other Restrictions’.

About Abhyudaya Cooperative Bank:
Managing Director– Premnath S. Salian
Headquartered– Mumbai, Maharashtra
Establishment– 1965
Tagline– Bank Trusted by Millions

Mastercard Partners with U GRO Capital to Support Small Businesses in India Mastercard Incorporated MA(Mastercard) has partnered with U GRO Capital Limited, a Non-Banking Financial Company (NBFC), to offer holistic digital supply chain financing solution to small businesses in India.

• This collaboration is in line with Mastercard’s announcement to get 1 billion people and 50 million micro and small businesses, including 25 million female entrepreneurs into the digital economy by 2025.

About the Partnership:
i.Under this partnership, short-term loans as a digital supply chain financing solution will be offered to dealers/distributors, last-mile retailers, and other small merchants and women entrepreneurs.
ii.Working:

• Mastercard will use its extensive network to connect stakeholders and support small businesses.
• U GRO Capital will utilize its unique underwriting and cash flow-based assessment model to provide credit.

Note:
India has over 64 million Micro, Small & Medium Enterprises (MSMEs), but only 14% have access to credit.
About U GRO Capital:
U GRO Capital is a NBFC specialised in MSME financing.
Vice Chairman and Managing Director– Shachindra Nath
Headquarters– Mumbai, Maharashtra

AWARDS & RECOGNITIONS

Ministry of Steel Presented National Metallurgist Awards 2022 for Contribution of Metallurgists in Iron & Steel SectorOn 22 November 2023, the Ministry of Steel presented the National Metallurgist Award (NMA) 2022 to recognise the excellence and contribution of Metallurgists in the Iron & Steel Sector during the NMA 2022 ceremony.

• The NMA 2022 awards were conferred to 5 distinguished metallurgists in 4 categories.
• The 4 categories are: Lifetime Achievement Award; National Metallurgist Award; Award for Research and Development (R&D) in Iron and Steel Sector and Young Metallurgist Award(sub categories – Metal Science and Environment)

Key People:
Faggan Singh Kulaste, Minister of State, Ministry of Steel; Nagendra Nath Sinha, Secretary, Ministry of Steel were present on the occasion.
Awardees of NMA 2022:

National Metallurgist Award (NMA) Scheme:
i.National Metallurgists Day (NMD) Awards given on an annual basis, were instituted in 1962 by the then Ministry of Steel & Mines.

• The awards are to recognise the contribution of Metallurgists in the metallurgical field.

ii.The recognition of the NMA scheme encompasses manufacturing, research, design, education, waste management, and energy conservation.
iii.It focuses on individual efforts that significantly contribute to achieving the objectives of Atmanirbhar Bharat (self-reliant India).
Note: The first award was given in the year 1963.
Click here to know more about NMA
Key Points:
i.Nagendra Nath Sinha, Secretary, Ministry of Steel noted that India has achieved self-reliance in producing almost all grades of steel.
ii.India’s production and consumption of steel during April – October 2023 Year-over-year (YOY) has grown by 15%.

• 82 million tonnes in production and 75.8 million tonnes in consumption.

iii.India’s growth rate of Steel Production is the highest amongst the top steel-producing countries of the world.
Note: According to World Steel Association (worldsteel), India is the 2nd largest steel producer globally. India produced around 11.2 Metric Tons(Mt) in May 2023. China topped the list with 90.1 Mt in May 2023.

APPOINTMENTS & RESIGNATIONS

Mahindra Group’s Anish Shah named as President-Elect of FICCI for 2023-24 Dr. Anish Shah, Managing Director (MD) and Chief Executive Officer (CEO) of the Mahindra Group, named as the President-elect of Federation of Indian Chambers of Commerce and Industry (FICCI) for 2023-2024.

• He will succed Subhrakant Panda, the incumbent President of FICCI after the 96th Annual General Meeting which is set to be held in December 8-9 2023 in New Delhi, Delhi.
• He is currently serving as the Senior Vice President of FICCI.

Note: Subhrakant Panda is the MD of Indian Metals & Ferro Alloys Limited.
About Anish Shah:
i.Anish Shah started his carrer as an Assistant Manager, Trade Services at Citibank in Mumbai, Maharashtra.
ii.He joined Mahindra Group in 2014, as Group President (Strategy). In 2019, he was appointed Deputy MD and Group CFO.
iii.Prior to joining Mahindra, He has served as the President and CEO of General Electric (GE) Capital India from 2009-2014.
iv.He also led the Bank of America’s US Debit Products business and worked as a strategy consultant at Bain & Company in Boston (The United States of America- USA).
v.At present, He is also a member of the United Kingdom (UK) Investment Council; Chair of the Automotive Governors Council (World Economic Forum); Co-Chair of the India Alliance of CEOs for Climate Change (World Economic Forum); and Co-Chair of the India-Australia CEO Council.
About Federation of Indian Chambers of Commerce and Industry (FICCI):
FICCI is the largest and oldest apex business organisation in India.  
President– Subhrakant Panda
Headquarters– New Delhi, Delhi
Established in– 1927

SPORTS

2023 Asian Para Archery Championships: India Tops Medal Tally with 9 MedalsIndian Para Archery team has topped the medal tally with a total of 9 medals (4 gold; 4 silver; 1 bronze) at the 2023 Asian Para Archery Championships and CQT(Continental Qualifying Tournament) 2024 in Bangkok, Thailand, which took place from 16 to 25 November 2023.

• South Korea finished in 2nd place with 5 medals(3 Gold, 1 Silver & 1 Bronze), and China finished 3rd with 4 medals(2 Gold, 1 Silver & 1 Bronze).

Key Highlights:
i.World No. 5 Rakesh Kumar, hailing from Jammu and Kashmir(J&K), who led the Indian team secured 3 Gold medals in 3 categories.

ii.Sheetal Devi has won a total of 3 medals, 2 gold and 1 silver during the event.

• She won the  gold medals as a part of Compound Open Mixed Team and Compound Women Open Team and won the silver in Compound Women Open.
• At present, Sheetal Devi is the only female international archer to shoot with her feet.

ii.The Para Archers Sheetal Devi, Rakesh Kumar, and Sarita are trained at Shri Mata Vaishno Devi Shrine Board, Sports Complex, Katra, Jammu & Kashmir.
Indian Medal Winners:

Australian Women’s captain Meghann Lanning Announces Retirement From International CricketMeghann Moira Lanning (Meg Lanning), Captain of Australian women’s cricket team announced retirement from international cricket at the age of 31.

• Singapore born Meg Lanning made her international debut in 2010 and played 241 matches for Australia.
• She made her One Day International (ODI) debut in 2011 and Test debut in 2013.

About Meghann Moira Lanning:
i.Meg Lanning, nicknamed “Megastar”, had scored over 8,000 runs across all formats, including 17 centuries.

• She holds the record for the most Women’s One Day International centuries. (15 centuries).
• In 2011, she became the youngest Australian cricketer(18 years old) to score an international century.

ii.Her career-best high score is 152; She scored it while playing against Sri Lanka in Bristol(England) in 2017.
iii.She played her last international match in February 2023 against South Africa in WT20I format.
Records:
i.In 2014, She became Australian Women’s team’s youngest captain at the age of 21. She led the team in 182 matches.
ii.She has won a total of 7 ICC Women’s World Cup titles:

• Two Women’s Cricket World Cup – ODI (2013 and 2022)
• five ICC Women’s World Twenty20(T20) titles (2012, 2014, 2018, 2020 and 2023)

iii.She holds the record of winning most ICC tournaments as a captain in Cricket.

• Under her captaincy, Australia won 5 ICC titles (T20 – 2014, 2018, 2020 and 2023 & ODI – 2022.)

Note: Australia’s Ricky Ponting holds the record for winning most ICC tournaments as a captain in Men’s Cricket. Australia won 4 titles under his captaincy.
iv.She was the first Australian to score 2,000 T20 International runs.
Awards:
She was named ICC Women’s T20I Cricketer of the Year in 2014 and ICC Women’s ODI Cricketer of the Year in 2015.

Pakistan All-Rounder Imad Wasim Retires From International Cricket
Pakistan all-rounder Syed Imad Wasim Haider (34 years) has announced his retirement from international cricket.
About Imad Wasim:
i.Imad Wasim made his international debut in 2015 in a One Day International (ODI) match against Sri Lanka.

• In the same year he made his Twenty 20 International (T20I) debut against Zimbabwe.

ii.Wasim so far played 55 ODI matches and 66 T20I matches for Pakistan
iii.In his career, he took 109 wickets and scored 1,472 runs.
iv.He was a part of Pakistan’s Champions Trophy-winning side in 2017.

• The final match was played against India.

v.He played his last game in April, 2023 against New Zealand in T20I format.

IMPORTANT DAYS

International Day for the Elimination of Violence against Women 2023- November 25The United Nations (UN) International Day for the Elimination of Violence against Women is annually observed across the globe on 25 November to raise public awareness about the global problem of violence against women.

• The Day also aims to prevent violence against women and promote basic human rights and gender equality.
• The 2023 global theme of UNiTE campaign is, “UNITE! Invest to prevent violence against women and girls”.

Background:
i.On 7 February 2000, the United Nations General Assembly (UNGA) adopted the resolution A/RES/54/134 and proclaimed the 25 November of every year as the International Day for the Elimination of Violence against Women.
ii.The first-ever International Day for the Elimination of Violence against Women was observed on 25 November 2000.
The observance marks the launch of UNiTE campaign, a 16 days ((25th November – 10th December) of activism against Gender-based Violence (GBV), which concludes on International Human Rights Day (10 December).
About UN Women:
It is the UN entity dedicated to gender equality and the empowerment of women.
Executive Director– Sima Sami Iskandar Bahous
Headquarters–  New York, United States of America (USA)
Established in– 2010
>> Read Full News

STATE NEWS

Rajneesh Goel named as 40th Chief Secretary of KarnatakaSiddaramaiah, Chief Minister(CM) of Karnataka, has appointed Rajneesh Goel as the 40th Chief Secretary of Karnataka. He will hold the post till his retirement in July 2024 or until further orders. He is currently serving as the Additional Chief Secretary (ACS) in the Home Department of the Government of Karnataka.

• He will succeed Vandita Sharma, the incumbent Chief Secretary (since May 2022) who is set to retire on 30th November 2023.

About Rajneesh Goel:
i.Rajneesh Goel is a 1986 batch IAS officer of Haryana Cadre.  He has served at various capacity during his 37-year career.
ii.He has also served as the Commissioner of Bruhat Bengaluru Mahanagara Palike (BBMP), the administrative body of Greater Bengaluru metropolitan area.
Additional info:
His wife Dr Shalini Rajneesh (IAS) is also serving as the additional chief secretary-cum-development commissioner of Karnataka.

Uttar Pradesh Declares November 25 as ‘No Non-Veg’ Day
Yogi Adityanath-led Uttar Pradesh (UP) government has declared November 25 as “no non-veg day” to mark 144th birth anniversary of Sadhu Thanwardas Lilaram Vaswani.

• The day coincides with the observance of International Meatless Day on November 25.
• The announcement was made after UP government imposed a ban on the production, storage, distribution and sale of food products with halal certification.

Sadhu Thanwardas Lilaram Vaswani:
i.He was born on 25th November 1879, in Hyderabad, Sind (now in Pakisthan)and died on January 16, 1966.
ii.He founded the Mira Movement in 1933, with an aim to empower and educate women and set up St. Mira’s School in Hyderabad (Telangana), Sindh(province of Pakistan).
iii.Darshan Museum was opened in Pune (Maharashtra) in 2011 in memory of him .
iv.On 25th November 1986, it was declared that Dada JP Vaswani’s birth anniversary will be observed annually as International Meatless Day.

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