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Current Affairs 3 November 2022

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NATIONAL AFFAIRS

EXIM Bank Report: India Could Fulfil Africa’s Maritime, Aerospace & Defence Requirements  

The Export-Import Bank of India (India Exim Bank), also known as EXIM Bank, released a research report titled “Reinvigorating India’s Economic Engagements with Southern Africa” during the commencement of the CII-Exim Bank Regional Conclave on India-Southern Africa Growth Partnership in Johannesburg, South Africa.

  • According to the report, India has emerged as a leading defence exporter in recent years and could be able to fulfil Africa’s maritime, aerospace, and defence needs, with Mauritius, Mozambique, and the Seychelles becoming major buyers of Indian armaments during 2017 – 2021.

i.A safe and secure maritime environment in the Indian Ocean Region (IOR) is vital to both India and African nations, particularly the nine Indian Ocean Littoral Countries (IOLC) in Africa.

  • The IOLC nations in Africa are Comoros, Kenya, Madagascar, Mauritius, Mozambique, Seychelles, Somalia, South Africa, and Tanzania.

The Export-Import Bank of India (India Exim Bank) and FirstRand Bank (FRB) Limited of South Africa have signed a “Master Risk Participation Agreement” to promote trade transactions.
About the Export-Import Bank of India (India Exim Bank):
Managing Director (MD) – Harsha Bangari
Establishment – 1982
>> Read Full News

WHO SEARO in collaboration with PCIM&H organized a Training Program in New DelhiWHO South-East Asia region in collaboration with Pharmacopoeia Commission for Indian Medicine & HomoeopathyOn November 1, 2022, the Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIM&H) under the Ministry of AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy) in collaboration with the World Health Organization South East Asia Region (WHO-SEARO) organized a 3-days training program in New Delhi (Delhi) which was inaugurated by Pramod Kumar Pathak, Special Secretary, Ministry of Ayush.

  • It focuses on to upgrade the laboratory capacity for quality control of Tradition/Herbal products in South East Asia region.
  • It is taking place for the first time in the country.

Participants:
23 participants from 9 countries (Bhutan, Indonesia, India, Sri Lanka, Thailand, Nepal, Maldives, Timor Leste and Bangladesh) are participating in this training program.
Objective:
i.To impart skills for laboratory based techniques and methods
ii.To maintain the quality of Traditional/herbal products
What is in the program?
The program will provide hands-on training on laboratory methods like Macroscopy, Microscopy in pharmacognosy, phytochemistry, Microbiology, other advanced instrument/technologies i.e. High-Performance Thin Layer Chromatography (HPTLC), Gas Chromatography etc for quality control of traditional/herbal Products.
Need behind this Program:
i.There is a requirement of uniformity, and strengthening of laboratory capacity for Quality Control of Traditional/Herbal Products which will evaluate quality of herbals that are often altered by various physical, chemical, and geographical aspects.
ii.Also, a Specified and uniform licensing schemes for manufacturing, import, export and marketing should be implemented for safety and efficacy.
iii.The Quality control measures includes standards for raw herbal material, good practices (including agricultural, cultivation, collection, storage, manufacturing, laboratory, and clinical, etc.).
iv.As per the Research and Information System Centre for Developing Countries report, the industry is projected to reach US$23.3 billion in 2022.
v.The growing market is giving the challenge to maintain the proper quality, efficacy and.
Other Attendees:
Dr Kim Sungchol, Regional Advisor-Traditional Medicine, WHO South-East Asia regional office, Dr. Raman Mohan Singh, Director, PCIM&H and others dignitaries.

Justice Chandrachud Launches NALSA Campaigns to Promote InclusivityJustice Chandrachud inaugurates NALSA campaignsIn order to foster a spirit of inclusivity, Justice Chandrachud, Executive Chairman of the National Legal Services Authority (NALSA), has launched two campaigns:

  • “Empowerment of Citizens through Legal Awareness and Outreach”
  • “Haq hamara bhi [email protected],” a special campaign for legal aid in prisons and childcare institutions

These two-week pan-Indian campaigns, which is taking place from October 31 to November 13, 2022, are intended to work at the grassroots and build capacity for the incapacitated.
Note: Justice Chandrachud is also a Chief Justice of India-designate.
Empowerment of Citizens through Legal Awareness and Outreach Campaign
i.This campaign intends to be vital in reducing the vulnerability of society’s marginalised strata by enhancing their potential to build a just, peaceful, and inclusive society.

  • The objective is to raise legal literacy at all levels via electronic media.

ii.The primary objective of this campaign is to organise a mass legal awareness camp on the NALSA module in each district of India.
iii.Every village panchayat and sub-division would be visited at least once every two weeks by outreach teams.
iv.It discusses issues affecting people, such as fundamental rights and duties as envisaged under the Constitution, laws pertaining to women and children, human rights, and environmental laws.
[email protected]’ Campaign
i.The “Haq hamara bhi [email protected]” campaign commemorates India’s 75th year of independence.
ii.The key objective of the campaign is to ensure that the undertrials receive updated information on the progress of their cases and to facilitate communication with lawyers.

  • It also includes ensuring that children in childcare institutions are represented by advocates, are informed about the progress of their cases, and are in contact with their guardians.

iii.District teams formed by district legal service authorities will visit prisons and childcare facilities as part of this campaign to interact with specific undertrial prisoners and children in conflict with law.

  • It intends to ensure that the individual is represented by a lawyer and to give free legal advice and assistance, including the drafting and filing of suitable petitions.

iv.The district teams will also look into the needs of the individuals concerned and ensure that they stay in touch with their friends and family while in custody.

Garuda Aerospace & IISc signed MoU for Research Projects, Geographical SurveysGaruda Aerospace, IISc sign MoU for research projects, geographical surveysGaruda Aerospace Private Limited, Drone as a Service(DaaS) company, has signed a Memorandum of Understanding(MoU) with the Indian Institute of Science (IISc) Bengaluru, Karnataka for collaborative research projects.

  • These projects will use drones and Unmanned Aerial Vehicles (UAV) for applications for geographical surveys for governments and society.
  • The operations and research projects will be taken up by Garuda Aerospace and the Department of Aerospace Engineering of IISc.

Features of the MoU:
i.The partnership between Garuda Aerospace and IISc will facilitate the development of new technologies related to surveillance applications using drones, benefiting the farmers, and the government.
ii.Under this MoU, IISc will provide a central cloud platform for the storage of data.
About Garuda Aerospace Private Limited:
Founder & Chief Executive Officer(CEO)– Agnishwar Jayaprakash
Headquarters– Chennai, Tamil Nadu
Establishment– 2015

BANKING & FINANCE

Star Super Triple Seven FD: Bank of India launches Special FD SchemeBank of India launches special deposit scheme and raises interestOn November 1, 2022, the Bank of India (BoI) launched a special fixed deposit (FD) scheme namely ‘Star Super Triple Seven Fixed Deposit’ which will offer 7.25% rate of interest on a deposit for 777 days. The interest rate for senior citizens on this scheme is 7.75% for 777 days.

  • This is a limited period offer by the bank.
  • BoI also raised the interest rate on its existing 555-days FD scheme to 6.30%.
  • On other maturities from 180 days to less than 5 years, it has raised interest rates by 25 basis points.

Key Points:
i.Bank of Baroda (BoB) also revised interest rates on ‘Baroda Advantage FDs’ ranging from 5.75% to 7%.
ii.The newly formed digital first Unity Small Finance Bank has launched ‘Shagun 366’, a 1-year FD scheme which will provide interest rate of 7.80%. This is also a limited period upto November 30.
About Bank of India (BoI):
Managing Director & CEO– Atanu Kumar Das
Headquarters– Mumbai, Maharashtra
Tagline– Relationship Beyond Banking

NBHIC and IDFC FIRST Bank partnered for BancassuranceNiva Bupa and IDFC FIRST Bank partner for BancassuranceA Corporate Agency partnership has been inked between the Niva Bupa Health Insurance Company Limited (NBHIC), and IDFC FIRST Bank to provide health insurance solutions to the bank’s customers.

  • It is NBHIC’s first bancassurance partnership of FY23.
  • Through this partnership NBHIC will utilize the bank’s reach to expand their services, and address the healthcare related concerns of the bank’s customers.

What is Bancassurance?
It is an insurance distribution model where insurance companies partner with banks to sell policies.  Through this, the bank earns a commission from the insurance company, the insurer gains from the distribution network of the bank.
Key Points:
i.NBHIC’s former name was Max Bupa Health Insurance Company Limited.
ii.IDFC First Bank’s former name was IDFC (Infrastructure Development Finance Company) Bank .
iii.In August 2022, IDFC First Bank partnered with LetsVenture Technologies Private Limited to support the startup ecosystem by offering curated products and solutions to startups, founders and investors.
iv.Notably, IDFC First Bank is also the one of 8 banks with which The Indian Coast Guard (ICG) signed Memorandums of Understanding (MoUs) to provide customized banking services for its personnel deployed across India for the welfare of its troops.

  • Other Banks include Axis Bank, HDFC Bank, Yes Bank, Punjab National Bank(PNB), and ICICI Bank.

About Niva Bupa Health Insurance:
MD & CEO– Krishnan Ramachandran
Headquarters– Gurugram, Haryana
About IDFC First Bank:
MD & CEO– V. Vaidyanathan
Headquarters– Mumbai, Maharashtra

Aditya Birla Sun Life AMC launches Sahyog; ABSLI Partners with Karza to Offer Insurance on WhatsAppAditya Birla Sun Life AMC launches SahyogAditya Birla Sun Life AMC Limited, a subsidiary of Aditya Birla Capital Limited and an investment manager to Aditya Birla Sun Life Mutual Fund, has launched Sahyog, an initiative for empowering support staff and their families.
Key points:
i.Sahyog is a first-of-its-kind initiative targeted on improving the financial health of support staff through steady, long-term investments.
ii.Sahyog helps an employer to start a systematic investment plan in mutual funds (MFs) on behalf of the domestic help to achieve their basic investment goals.

  • The financial goals of the employee may depend on their retirement plan, accumulation of wealth for higher education of their children or buying a home.

Aditya Birla Sun Life Partners with Karza to Offer Insurance on WhatsApp
Aditya Birla Sun Life Insurance (ABSLI) partnered with Karza Technologies Private Limited, a part of Perfios Software Solutions Private Limited and a few other technology vendors to launch end-to-end onboarding solutions to purchase insurance products on WhatsApp platform.
Key highlights:
i.This initiative will allow customers to select premium amount, term, illustration generation and premium payment via WhatsApp itself.
ii.Karza’s next-generation technology solutions comply with the Know Your Customer (KYC) norms and also extract data through Application Programming Interface (API) by providing an encrypted chat option on WhatsApp.
iii.Presently, this service is offered to existing customers of ABSLI and in future, the service will facilitate first-time insurance customers and also reaches remote areas.
About Karza Technologies:
Karza Technologies is the largest API middleware provider for data, automation, and decisioning solutions to FinTechs that enables systemic fraud prevention, risk management, compliance & onboarding automation.
Co-founders – Gaurav Samdaria, Omkar Shirhatti, Alok Kuma
Establishment – 2015

SEBI issues norms to Standardize usage of Rating Scales used by CRAsSEBI issues norms to standardise usage of rating scalesi.On October 31, 2022, the Securities and Exchange Board of India (SEBI) issued norms regarding the standardization of rating scales used by Credit Rating Agencies (CRAs) which will be applicable from January 1, 2023.
ii.The notification for the same is issued by SEBI in exercise of the powers conferred by Section 11 (1) of SEBI Act, 1992 read with the provisions of Regulation 20 of SEBI (Credit Rating Agencies-CRA) Regulations, 1999, to protect the interest of investors in securities and to promote the development of the securities market.
iii.CRAs, like Crisil, and CARE, etc., in terms of Regulation 9(f) of SEBI (CRA) Regulations, 1999, undertake ratings of various financial instruments under the guidelines of different financial sector regulators or authorities.
iv.The monitoring of the implementation of these norms will be carried out through half-yearly internal audits for CRAs mandated under SEBI’s (CRAs) Regulations.
About Securities and Exchange Board of India (SEBI):
Chairperson– Madhabi Puri Buch
Headquarters– Mumbai, Maharashtra
Establishment– 1992
>> Read Full News

BoB Launches Special FD Scheme – Baroda Tiranga Plus Deposit Scheme
Bank of Baroda Introduces Baroda Tiranga Plus Deposit SchemeOn 2nd November 2022, Bank of Baroda (BoB) launched the limited-time fixed deposit
(FD) scheme, Baroda Tiranga Plus Deposit Scheme, offering higher interest rates up to
7.50% per annum (p.a.) for 399 days with effect from 1st November 2022, which includes
0.50% p.a. for senior citizens and 0.25% for non-callable deposits.

  • The scheme is applicable on retail term deposits from 15 Lakh to Rs.2 crore.

About Baroda Tiranga Plus Deposit Scheme:
i.Under the callable option, BoB will offer an interest rate of 6.75 % p.a. for the general
public, and 7.25 % p.a. for senior citizens.
ii.Under the non-callable option, the general public, Non-Resident External (NRE)/Non-
Resident Ordinary (NRO) depositors will get an interest rate of 7% p.a. and senior citizens
will get an interest rate of 7.50% p.a.
Note – BoB has increased the premium on Non-Callable Retail Term Deposits from 0.15%
p.a. to 0.25% p.a. and hence the non-callable deposits will now receive an extra 0.25% p.a.
About Bank of Baroda (BoB):
Managing Director (MD) & Chief Executive Officer (CEO) – Sanjiv Chadha
Headquarters – Vadodara, Gujarat.

Aegon Life Insurance Launches iGuarantee Max Savings Plan; Aviva Life Insurance launches Aviva Protection Plus policyAegon Life Insurance launches iGuarantee Max SavingsOn 2nd November 2022 Aegon Life Insurance Company launched the iGuarantee Max Savings Plan, that offers dual benefit of high returns and life cover for the policyholders to meet their medium-to-long-term savings goals affordably while protecting them against financial shocks.
About iGuarantee Max Savings Plan:
i.The policyholder can choose a policy term between 5 and 20 years, depending on their savings goal.
ii.The minimum monthly contribution for the plan is Rs.500, which can be done via online and the policyholders can gain higher tax-free returns on their savings.

  • Premium payment options include, regular pay (pay throughout the policy term), limited pay (pay for a fixed duration, lower than the policy term) and single pay (pay a lump sum front).

iii.Under the insurance plan, the policyholders will get guaranteed returns, flexibility to choose an affordable premium, payable at a frequency of their choice, and the option to receive benefits depending on their life goal.
iv.Upon death of the policyholder, if the policy is in-force and all due premiums are paid till date, an amount equal to the sum assured on death along with accrued guaranteed additions shall be paid.
Aviva Life Insurance launches Aviva Protection Plus policy
Aviva Life Insurance Company has launched the ‘Aviva Protection Plus policy’ for offering attractive features along with the maturity benefit of premium return, enriched protection and savings booster options.

  • It also ensures financial security for the policyholders family with a high sum assured, payable upon death or any unfortunate event.
  • In addition, the policyholders can choose the premium payment options from multiple premium payment frequency modes and avail benefits such as life coverage up to 80 years, direct and indirect tax benefits and rebate on high sum assured.

About Aegon Life Insurance Company:
Aegon Life Insurance Company is a joint venture between Aegon NV, a leading international provider of life insurance, pensions and asset management services, and Bennett, Coleman and Company Limited.
Managing Director (MD) & Chief Executive Officer (CEO) – Satishwar Balakrishnan
Headquarters – Mumbai, Maharashtra

Bayer, Rabo Partnerships & Mastercard Collaborates to Create Agri-Finance Digital Ecosystem

Bayer, Rabo Partnerships, and Mastercard have joined forces to establish a scalable programme to enhance the digitization of India’s agricultural finance (Agri-Finance) sector.

  • The aim of this partnership is to increase access to agronomic knowledge, products, services, and partnerships.

It brings together the expertise of three organisations in digital, agri-finance, and payments technology.
Significance

  • The programme intends to help 10 million smallholder farmers in India obtain access to formal financial services in the next 5 years.
  • This will address the problems faced by smallholder farmers, who make up 86% of India’s agrarian sector and frequently depend on middlemen for price decisions and have trouble finding high-quality farm products.

Mastercard Farm Pass Program
i.Mastercard’s Farm Pass is a digital ecosystem platform that connects buyers, Farmer Producer Organizations (FPOs), and other actors in the agriculture ecosystem digitally with farmers.

  • It assists them in achieving the highest price for their goods.
  • Mastercard’s Farm Pass works offline, even with feature phones.

ii.The system establishes a common interface for farmers and buyers to increase efficiency across the entire agriculture value chain.

  • It benefits two million farmers worldwide and over 600,000 farmers in India.

Key Benefits of Mastercard Farm Pass Program

  • Financial Inclusion: Farm Pass enables access to financial services for a customer segment (farmers) that would otherwise be unavailable.
  • Inclusive Growth: Farmers develop credit profiles and histories.
  • Higher Incomes: Farmers get easier access to markets and more customers, which improves their standard of living.
  • Convenience: Digital payments reduce the cost, time, and effort required for each transaction.
  • Transparency: Visibility of end-to-end value chain transactions in near real time.
  • Operational Efficiencies: Reduced sourcing expenses since Farm Pass aggregates produce through intermediaries.
  • Trust & Transparency: Stronger links between agri-sector partners and more knowledge of products.

About Mastercard:
Mastercard is a leading global payments & technology company that connects consumers, businesses, merchants, issuers & governments around the world.
Chief Executive Officer (CEO) – Michael Miebach
Headquarters – Purchase, New York, United States (US)
Establishment – 1966

Bain Capital sells 16.7 million shares in Axis Bank for Rs 1,497 crore

 US-based private equity, Bain Capital(BC) Sold 0.54 percent stake in Axis Bank for Rs.     1,497 crore.

 ii.The private equity firm sold 0.54 percent, shares of 1,66,80,000 stake in the company.

 iii.The shares were sold at Rs 891.38 apiece for a total of Rs 1,497 crore by BC Asia               Investments. 

  • As of September 2022, Bain Capital held a 4.24% stake in Axis Bank through its three funds – BC Asia Investments VII, BC Asia Investments III, and Integral Investments South Asia IV.

 iv.Shares of Axis Bank last closed at Rs.871.75. 

 

ECONOMY & BUSINESS

GAIL & ADNOC signed MoU to collaborate in LNG Supply & DecarbonisationGAIL inks agreement with ADNOC to secure LNG supplyGAIL (India) Limited (formerly known as Gas Authority of India Limited) and Abu Dhabi National Oil Company (ADNOC), United Arab Emirates (UAE) have signed a Memorandum of Understanding(MoU) to explore Liquefied Natural Gas (LNG) Supply and Decarbonization Opportunities including short and long term LNG sales agreements.

  • The MoU was exchanged between Sandeep Kumar Gupta, Chairman and Managing Director, GAIL and Fatema Al Nuaimi, CEO ADNOC LNG at the 2022 Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC-2022).

Key People:
The MoU was exchanged in the presence of Hardeep Singh Puri, Minister of Petroleum and Natural Gas, Government of India and His Excellency Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology of the United Arab Emirates(UAE), UAE Special Envoy for Climate Change, and ADNOC Managing Director and Group CEO.
Features of the MoU:
i.Under this MoU, ADNOC and GAIL will work towards broadening their commercial partnership with a focus on lower carbon energy supplies, in this case, LNG, and joint opportunities for collaboration in new projects, decarbonization efforts and renewable energy.
ii.The MoU will enable GAIL and ADNOC to boost their trade and commerce through the relationship between India and UAE.
iii.The MoU also includes parallel issues like the potential optimisation of LNG trading activities, the review of joint equity investments in renewables, and the monitoring of greenhouse gasses for LNG cargoes to support low-carbon LNG supplies.
About GAIL (India) Limited:
GAIL was incorporated in August 1984 as a Central Public Sector Undertaking (PSU) under the Ministry of Petroleum & Natural Gas (MoP&NG).
Chairman & Managing Director(CMD)– Sandeep Kumar Gupta
Headquarters– New Delhi, Delhi
About Abu Dhabi National Oil Company (ADNOC):
ADNOC was the first LNG producer in the Middle East
Managing Director & Chief Executive Officer(MD & CEO)– H. E. Dr Sultan Ahmed Al Jaber
Headquarters– Abu Dhabi, United Arab Emirates(UAE)

Google Cloud partners PMPML to help Pune commuters track buses in real time
Google Cloud announced a collaboration with Pune Mahanagar Parivahan Mahamandal Limitedd (PMPML), the public transport bus service provider for the cities of Pune & Pimpri Chinchwad and PMRDA(Pune Metropolitan Region Development Authority), Maharashtra.

  • The aim is to build an Intelligent transit management system(ITMS) and feed system to track buses live on Google Maps.

i.PMPML has installed hardware on their buses for sending real-time data.
ii.The collaboration with Google Cloud will help them ingest real-time data from all applicable buses from the OBU (on board unit) system installed on the PMPML buses.
iii.Google Cloud will work through its partner Niveus Solutions Private Limited and others for the engagement in Pune.

AWARDS & RECOGNITIONS  

Puneeth Rajkumar Posthumously Conferred ‘Karnataka Ratna’ Award at 67th Kannada RajyotsavaPuneeth Rajkumar posthumously conferred ‘Karnataka Ratna’ awardOn 1st November 2022, the Karnataka government posthumously conferred ‘Karnataka Ratna’ award for the late actor Puneeth Rajkumar, it’s the state’s highest civilian award, given on the occasion of the 67th Kannada Rajyotsava(State Formation Day) at an event held at the grand steps of Vidhana Soudha in Bengaluru, Karnataka.

  • The award was presented to the late actor’s wife, Ashwini Puneeth Rajkumar, in the presence of renowned actors Rajnikanth and Junior NTR, and Infosys Foundation chairperson Sudha Murthy.
  • Puneeth Rajkumar is the 9th recipient of the award.
  • The Award consists of a full silver plaque and a 50-gram gold medal.

About Karnataka Ratna:
i.Karnataka Ratna was instituted in 1992 by the then Chief Minister(CM) S Bangarappa by the Government of Karnataka.
ii.The  inaugural award (1992) was presented to Puneeth’s late father Rajkumar(Cinema)and author Kuvempu (Literature).
iii.Karnataka Ratna award was last awarded to Dr Veerendra Heggade for his social service in 2009.

  • Other recipients of the award are S Nijalingappa (Politics), CNR Rao (Science), Bhimsen Joshi (Music), Shivakumara Swamiji (Social Service), and Dr J Javaregowda (Education & Literature).

Collins Dictionary Announced “Permacrisis” as Collins Word of the Year 2022

Collins Dictionary has announced “Permacrisis”, a noun which describes an extended period of instability and insecurity, as the Collins Word of the Year 2022.

  • The term Permacrisis embodies the sense of facing unprecedented events one after another.
  • Permacrisis is also one of six new words on the list added to CollinsDictionary.com.

Note: Collins Dictionary is published by HarperCollins in Glasgow, Scotland.
Top 10 Words of the year 2022: 

  • Permacrisis (Noun)- an extended period of instability and insecurity, esp one resulting from a series of catastrophic events.
  • Kyiv (Noun)- the capital of Ukraine, on the Dnieper River.
  • Partygate (Noun)- a political scandal over social gatherings held in British government offices during 2020 and 2021 in defiance of the public-health restrictions that prevailed at the time.
  • Splooting  (Noun) – the act of lying flat on the stomach with the legs stretched out.
  • Warm Bank   (Noun) – a heated building where people who cannot afford to heat their own homes may go.
  • Carolean (Adjective) – relating to Charles III of Great Britain and Northern Ireland or his reign.
  • Lawfare (Noun) – the strategic use of legal proceedings to intimidate or hinder an opponent.
  • Quiet Quitting  (Noun) -the practice of doing no more work than one is contractually obliged to do, esp in order to spend more time on personal activities.
  • Sportswashing (Noun) -the sponsorship or promotion of sporting events in order to enhance a tarnished reputation or distract attention from a controversial activity.
  • Vibeshift (Noun) – a significant change in a prevailing cultural atmosphere or trend.

Previous Collins Word of the year:
2021 – NFT(‘Non-Fungible Token’)
2020 – lockdown      

APPOINTMENTS & RESIGNATIONS   

Vetsa Ramakrishna Gupta Assumes Additional Charge as BPCL’s Interim CMDVetsa Rama Krishna Gupta takes over as BPCL chiefOn 1st November 2022, Vetsa Ramakrishna Gupta(51 years old) assumed additional charge as Chairman and Managing Director (CMD) of Bharat Petroleum Corporation Limited (BPCL), after the superannuation of Arun Kumar Singh, Chairman-cum-Managing Director (CMD) of BPCL, on 31st October 2022.

  • He also holds the charge for Director Finance and Director (HR).
  • Vetsa Ramakrishna Gupta is set to superannuate in June 2031.

Note – BPCL becomes the 2nd Maharatna oil Public Sector Undertaking (PSU) to get an interim head in the absence of a regular appointment.
Key highlights:
i.Vetsa Ramakrishna Gupta is a member of the Institute of Chartered Accountants of India (1998 batch) and also a member of the Institute of Cost Accountants of India.
ii.He joined BPCL in August 1998 and has served across finance functions covering commercial finance, corporate accounts, risk management, business plan, budgeting and treasury operations.
iii.He is currently on the board of Bharat Petro Resources Limited and Fino Paytech Limited. 

  • He is also a board member in the recently amalgamated companies including Bharat Oman Refineries Limited (BORL), Bharat Gas Resources Limited (BGRL) and Mumbai Aviation Fuel Farm Facility Private Limited (MAFFL).

About Bharat Petroleum Corporation Limited (BPCL):
BPCL was incorporated in 1952 as “Burmah-Shell Refineries Limited (BSR)”.

  • It was later renamed as Bharat Refineries Limited (BRL) and subsequently as Bharat Petroleum Corporation Limited.

CMD– Vetsa Ramakrishna Gupta
Headquarters – Mumbai, Maharashtra

Mata Amritanandamayi appointed as Chair of C20
The Government of India(GoI) has appointed Mata Amritanandamayi Devi (Amma) as the Chair of the country’s Civil 20 (C20), an official engagement group of the Group of 20 (G20).
i.The C20 is G20s platform for civil-society organisations (CSOs) to bring forth non-government and non-business voices to the G20 leaders.

  • The G20 is the premier inter-governmental forum for the world’s developed and emerging economies to address financial stability on a global basis.
  • India will assume the Presidency of the G20 for one year from December 1, 2022 to November 30, 2023.
  • G20 Leaders’ Summit is going to be held in New Delhi from September 9 to 10, 2023.

ii.Representation of CSOs among G20 member nations began in 2010 and was launched as an official G20 engagement group in 2013.       

SCIENCE & TECHNOLOGY

SpaceX’s Falcon Heavy Rocket Completes Launch After Three-Year HiatusSpaceX's Falcon Heavy rocket, world's most powerful rocketOn November 1, 2022, after a three-year break, SpaceX’s Falcon Heavy, the world’s most powerful active rocket was launched into space from NASA’s Kennedy Space Center in Florida’s Cape Canaveral, United States (US) for the first time since 2019.

  • The mission was carried out by SpaceX, which is owned by billionaire Elon Musk, with the assistance of the US Space Force.

Significance
i.The rocket system took off from a SpaceX launch pad, consisting of three Falcon 9 boosters strapped side by side.

  • Two satellites from the US Space Force and a group of smaller satellites were bound for orbit.

ii.The US Space Force has utilised the Falcon Heavy rocket for the first time ever since it was established by former President Donald Trump to oversee the nation’s space-based defence activities.
Key Points:
i.The Falcon Heavy was first deployed in 2018 when Elon Musk’s other company, Tesla, sent a red sports car into space as part of a test flight.
ii.The Saudi Arabia-based Arabsat also used it to launch a TV and phone service satellite into orbit.
iii.The final mission involved transporting experimental satellites for the US Department of Defence. But it hasn’t operated since June 2019.
iv.Apart from SpaceX’s close partnership with the US military, the other significant partner is the United Launch Alliance, a joint operation between Boeing and Lockheed Martin.
Note:
In December 2022, SpaceX intends to send Starship into orbit for the first time.

IMPORTANT DAYS

International Day to End Impunity for Crimes against Journalists 2022 – November 2International Day to End Impunity for Crimes against JournalistsUnited Nations(UN)’s International Day to End Impunity for Crimes against Journalists is annually observed across the globe on 2nd November to condemn all attacks against journalists and media workers.

  • The day also aims to end impunity for crimes against journalists and to guarantee freedom of expression and access to information for all citizens.

Background:
i.The United Nations General Assembly(UNGA) adopted the resolution A/RES/68/163 on 18th December 2013 and proclaimed the 2nd November of every year as the International Day to End Impunity for Crimes against Journalists.
ii.The first-ever International Day to End Impunity for Crimes against Journalists was observed on 2nd November 2014.
Why November 2?
The date (November 2) was chosen to commemorate the assassination of Claude Verlon(58) and Ghislaine Dupont (51), French radio journalists of RFI Radio, in Mali on 2 November 2013.
>> Read Full News

STATE NEWS

Haryana CM Launches ‘CM dashboard’ for Live Monitoring of Departments & e-Uphaar Portal

Haryana Chief Minister (CM) Manohar Lal Khattar launched the ‘CM dashboard’, an IT platform, with real-time data of all departments, under which, live monitoring of every department at the block, district, and panchayat levels will be done.

  • He also launched a dedicated e-Uphaar portal to auction the gifts received by him during various functions.

About CM Dashboard:
i.The dashboard was developed in-house with state-of-the-art business intelligence software, that contains real-time data of all departments on day-to-day activities for effective monitoring and decisions taken by the administrative wing on major schemes.

  • It will also enable tracking of the methodology and analysis reports, which further helps in comparing the old and new data.

About Uphaar: CM’s Mementos: 
ii.Under Uphaar portal, the base bid amount for the auction is fixed and the payment will be directly transferred to the CM Relief Fund.
About Haryana:
Governor – Bandaru Dattaraya
Chief Minister – Manohar Lal Khattar
Wildlife Sanctuaries – Chhilchhila Wildlife Sanctuary, Nahar Wildlife Sanctuary
Zoological Park – Surinder Singh Memorial Mini Zoo, Mini Zoo

Goa CM Pramod Sawant launches Purple Fest logo

 On 1st November 2022, Chief Minister of Goa, Pramod Sawant launched logo of Purple    Fest at an event held in Manohar Parrikar Memorial Hall of Sanjay Centre for Education in Porvorim, Goa.

i.Purple fest is organised for the first time  for persons with disabilities by the Office of   State Commission in collaboration with the Directorate of Social Welfare and                       Entertainment   Society of Goa.

ii.The Three-day event will start in January, 2023 and it will be organized every year in Goa along the lines of the International Film Festival of India (IFFI).

iii.This fest will be discussed in Goa chamber of commerce and industries, to provide employment opportunities for the disabled.

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List of Current Governors in India – AUGUST 2022

List of Current Chief Ministers in India – AUGUST 2022

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Current Affairs Today (AffairsCloud Today)

S.noCurrent Affairs 3 November 2022
1EXIM Bank Report: India Could Fulfil Africa’s Maritime, Aerospace & Defence Requirements
2WHO SEARO in collaboration with PCIM&H organized a Training Program in New Delhi
3Justice Chandrachud Launches NALSA Campaigns to Promote Inclusivity
4Garuda Aerospace & IISc signed MoU for Research Projects, Geographical Surveys
5Star Super Triple Seven FD: Bank of India launches Special FD Scheme
6NBHIC and IDFC FIRST Bank partnered for Bancassurance
7Aditya Birla Sun Life AMC launches Sahyog; ABSLI Partners with Karza to Offer Insurance on WhatsApp
8SEBI issues norms to Standardize usage of Rating Scales used by CRAs
9BoB Launches Special FD Scheme – Baroda Tiranga Plus Deposit Scheme
10Aegon Life Insurance Launches iGuarantee Max Savings Plan; Aviva Life Insurance launches Aviva Protection Plus policy
11Bayer, Rabo Partnerships & Mastercard Collaborates to Create Agri-Finance Digital Ecosystem
12Bain Capital sells 16.7 million shares in Axis Bank for Rs 1,497 crore
13GAIL & ADNOC signed MoU to collaborate in LNG Supply & Decarbonaisation
14Google Cloud partners PMPML to help Pune commuters track buses in real time
15Puneeth Rajkumar Posthumously Conferred ‘Karnataka Ratna’ Award at 67th Kannada Rajyotsava
16Collins Dictionary Announced “Permacrisis” as Collins Word of the Year 2022
17Vetsa Ramakrishna Gupta Assumes Additional Charge as BPCL’s Interim CMD
18Mata Amritanandamayi appointed as Chair of C20
19SpaceX’s Falcon Heavy Rocket Completes Launch After Three-Year Hiatus
20International Day to End Impunity for Crimes against Journalists 2022 – November 2
21Haryana CM Launches ‘CM dashboard’ for Live Monitoring of Departments & e-Uphar Portal
22Goa CM Pramod Sawant launches Purple Fest logo