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NATIONAL AFFAIRS
17th Urban Mobility India Conference & EXPO held in Gandhinagar, Gujarat
Bhupendra Patel, Chief Minister(CM) of Gujarat inaugurated the 17th Urban Mobility India (UMI) Conference & Exhibition(2024) at the Mahatma Mandir Convention Centre in Gandhinagar, Gujarat. The theme of the 2024 conference is ‘Standardization and Optimization of Urban Transport Solutions’.
i.The Ministry of Housing and Urban Affairs(MoHUA) organized the UMI 2024 in collaboration with the Institute of Urban Transport (India) and with the support of Government of Gujarat and Gujarat Metro Rail Corporation(GMRC) Limited. The event was held from 25th October to 27th October 2024.
ii.During the closing ceremony, the winners of ‘Best Practices Project in Urban Transport’ was awarded to state and city authorities in a total of 9 categories.
About Ministry of Housing and Urban Affairs(MoHUA):
Union Minister – Manohar Lal Khattar(Constituency – Karnal, Haryana)
Minister of State (MoS) –Tokhan Sahu(Constituency – Bilaspur, Chhattisgarh)
>> Read Full News
MoD Minister Rajnath Singh launches ADITI 3.0 challenge and DISC 13 during Swavlamban 3.0
Union Minister Rajnath Singh, Ministry of Defence (MoD) launched two significant initiatives aimed at bolstering indigenous defence technologies: 3rd edition of Acing Development of Innovative Technologies with iDEX (ADITI 3.0) challenge and the 13th Defence India Start-up Challenges (DISC 13).
The initiatives were launched during Swavlamban 3.0 held at Bharat Mandapam in New Delhi, Delhi organized by the Naval Innovation and Indigenisation Organisation (NIIO).
ADITI 3.0 Challenge:
Objective: The ADITI (Acing Development of Innovative Technologies with iDEX) 3.0 challenge is designed to foster innovation in defence technology by encouraging startups and enterprises to develop cutting-edge solutions.
Specific Challenge: One notable challenge from the Indian Navy involves the creation of a High-Power Microwave Weapon System, showcasing India’s focus on advanced military capabilities.
DISC 13:
i.The 13th edition of DISC includes 7 challenges aimed at enhancing operational efficiencies within the armed forces.
ii.The challenges cover various domains, including:
- Artificial Intelligence
- Military Communication
- Autonomous Systems
iii.The challenges are given by Indian Army/IA (3), Indian Navy/IN (2), and Indian Air Force(IAF) (2) for modernizing defence operations.
Key Points:
i.The previous editions of the Swavlamban initiative had garnered over 2,000 proposals, leading to the development of 155 challenges and facilitating the completion of 171 contracts worth more than Rs 700 crore.
ii.It has successfully collaborated with 213 Micro, Small, and Medium Enterprises (MSMEs) and startups through the iDEX initiative, promoting self-reliance in defence manufacturing.
iii.The Defence Minister also recognized winners of previous Innovations for Defence Excellence (iDEX) challenges and Hackathon participants, underscoring the government’s commitment to fostering innovation in defence.
Indian Railways Signs MoU with Switzerland for Technical Cooperation
The Indian Railways (IR), overseen by the Ministry of Railways (MoR), has formalized its partnership with the Federal Department of the Environment, Transport and Communications (DETEC) of Switzerland by signing a renewed Memorandum of Understanding (MoU) to enhance technical cooperation between the two nations.
- This agreement was established through video-conferencing, was jointly approved by the Ministry of Railways (MoR) and the Ministry of External Affairs (MEA), aiming to strengthen technical cooperation between India and Switzerland.
- The event was attended by Mridul Kumar, Ambassador of India to Switzerland alongside Albert Roesti, head of DETEC, Switzerland.
Key Points:
i.The MoU aims to strengthen technical cooperation in key areas, including technology sharing, track maintenance, management, and construction, thereby aligning with the Indian government’s commitment to modernizing the railway system.
ii.Companies from Switzerland will contribute by providing specialized machinery, materials, and consultancy services for tunneling projects.
Background :
The original MoU, signed on August 31, 2017, was valid for five years and covered key cooperation areas such as:
- Traction Rolling Stock and Propulsion Equipment
- Electric Multiple Units (EMU) and Train Sets
- Passenger and Freight Cars
- Tilting Trains and Railway Electrification
- Train Scheduling and Operational Improvements
- Railway Station Modernization
- Multimodal Transport Solutions
- Tunneling Technology
About Ministry of Railways(MoR):
Union Minister– Ashwini Vaishnaw (Rajya Sabha- Odisha)
Minister of State (MoS)- V. Somanna (Constituency- Tumkur, Karnataka), Ravneet Singh(Rajya Sabha – Rajasthan)
About Switzerland:
President- Viola Amherd
Capital – Bern
Currency-Swiss Franc
Australia selected as the “Country of Focus” for the IFFI 2024
The Ministry of Information & Broadcasting(MIB) announced Australia as the “Country of Focus” for the 55th edition of the International Film Festival of India (IFFI 2024), scheduled to take place in Panaji, Goa, from 20th to 28th November 2024.
- The “Country of Focus” is one of the key features of IFFI, offering a dedicated showcase of the nation’s best contemporary films.
i.This recognition aims to celebrate the contributions of Australian cinema to the global film industry. This also highlights Australia’s rich storytelling traditions, vibrant film culture, and innovative cinematic techniques.
ii.7 Australian films, offering a diverse blend of genres, from critically acclaimed dramas to powerful documentaries, visually stunning thrillers, and light-hearted comedies will be presented at the IFFI 2024.
Note: IFFI, founded in 1952, is one of Asia’s most significant film festivals, which offers a platform for filmmakers to present their works. It is annually held in Goa to celebrate the finest of World cinema.
INTERNATIONAL AFFAIRS
Brazil Becomes 2nd BRICS Country not to Join China’s BRI
Brazil has officially decided not to join China’s Belt and Road Initiative (BRI). With this, Brazil becomes the second BRICS(Brazil, Russia, India, China and South Africa) nation, following India, to reject participation in this infrastructure project.
- Brazilian President Luiz Inácio Lula da Silva, through his Special Adviser for International Affairs, Celso Amorim, emphasized that Brazil seeks to elevate its relationship with China without entering into a formal treaty or accession contract to the BRI.
Key Points:
i.Brazil aims to leverage aspects of the BRI framework to create synergies between its own infrastructure projects and Chinese investment funds, without formally joining the initiative.
ii.BRICS originally consisted of Brazil, Russia, India, China and South Africa. Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE) have been admitted as new members.
iii.BRI, also known as the One Belt One Road or the New Silk Road, is a global development strategy launched by China in 2013. It aims to enhance connectivity and cooperation among countries primarily across Asia, Europe, and Africa.
- It is one of the largest infrastructures and investment projects in history, with estimates of total investments between USD 4 trillion to USD 8 trillion.
About Brazil:
Capital– Brasília
Currency– Brazilian real
President– Luiz Inácio Lula da Silva
ECI signs MOU on Electoral Cooperation with Uzbekistan’s Central Election Commission 
The Election Commission of India (ECI) signed an ‘electoral cooperation’ agreement with Uzbekistan’s central poll body – Central Election Commission during a visit of Chief Election Commissioner(CEC) Rajiv Kumar to Tashkent as international observer for the upcoming elections.
- Polls in Uzbekistan were held on 27th October 2024.
Key Points:
i.The MoU will further strengthen and deepen interaction between the two Election Management Bodies (EMBs) for mutual benefit of democracies.
ii.The two bodies have previously engaged in mutual cooperation, with officials from each country participating as observers in each other’s elections.
- During India’s Lok Sabha elections earlier this year, a delegation from Uzbekistan observed the process
iii.Both commissions actively engage in global electoral forums, such as the Association of World Election Bodies (A-WEB) and the Association of Asian Election Authorities (AAEA), which facilitate knowledge sharing and best practices in electoral management
iv.This MoU is part of a broader effort by ECI, which has signed agreements with over 30 EMBs worldwide, enhancing its role in international electoral cooperation.
About Uzbekistan:
President– Shavkat Mirziyoyev
Capital– Tashkent
Currency– Uzbekistani Som
BANKING & FINANCE
RBI makes 6 amendments KYC Directions
The Reserve Bank of India (RBI) has introduced six amendments to the Master Direction – Know Your Customer (KYC) Direction, 2016 (as amended from time to time), w.e.f. November 6, 2024.
- It should be noted that the terms of Master Direction on KYC are followed by Regulated Entities (REs) to undertake Customer Due Diligence (CDD) for their customers.
Reason behind the amendments in KYC rules:
Master Direction – Know Your Customer (KYC) Direction, 2016 (as amended from time to time) has been further amended because of the following:
i.To align with recent amendments to the Prevention of Money Laundering (Maintenance of Records) Rules, 2005
ii.To incorporate corrigendum regarding the implementation of Section 51A of the Unlawful Activities (Prevention) Act (UAPA), 1967
iii.To revise certain existing instructions
The Six Amendments:
i.Customer Acceptance Policy (Paragraph 10f of Master Direction): REs must apply CDD at the Unique Customer Identification Code (UCIC) level. Existing KYC-compliant customers can open new accounts or access additional services without undergoing a new CDD process.
ii.High-Risk Accounts Monitoring (Paragraph 37): The definition of high-risk accounts has been clarified to emphasize that these accounts require intensified monitoring. This applies to both sub-paragraphs (a) and (b).
iii.KYC Updation (Paragraph 38): The term “periodic updation” replaces “updation“ for clarity regarding the timing and processes for updating customer KYC details.
iv.KYC Records and CKYCR (Paragraph 56h & 56j): REs must update KYC data for individual and legal entities with the Central KYC Records Registry (CKYCR) within seven days of receiving new information. CKYCR will notify all reporting entities about these updates.
v.Changes in UAPA Procedures: The designation of the Central Nodal Officer under the UAPA, 1967 has been changed from ‘Additional Secretary’ to ‘Joint Secretary’, reflecting an administrative update.
vi.Terminology Update: Throughout the Master Direction, references to “section” have been replaced with “paragraph” for consistency in legal language.
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
SBI Raises Rs 5,000 Crore Via AT-I Bonds at 7.98%
Mumbai(Maharashtra) based State Bank of India (SBI) has raised Rs 5,000 crore through its 1st Basel III compliant Additional Tier 1(AT-1) bond issuance for the current Financial Year (FY2025) at a coupon rate of 7.98%.
- The tenor of these SBI’s AT-1 bonds is perpetual with call option after 10 years and each anniversary date thereafter.
i.The issue attracted bids over 3.5 times against the base issue size of Rs 2,000 crore. The total number of bids received was 108, this indicates participation from a diverse set of qualified institutional bidders.
ii.The participants were from provident funds, pension funds, insurance companies, mutual funds, Non-Banking Financial Companies (NBFCs), banks, etc.
iii.The bonds are rated AA+ with a stable outlook from CRISIL(Credit Rating Information Services of India Limited) Ratings and CARE (Credit Analysis and Research Limited) Ratings.
Note: AT-1 bonds are debt instruments that are issued by banks to raise money and shore up the capital base.
SEBI Bars OCAL and its Promoters from Securities Markets over Fund Diversion Allegations
The Securities and Exchange Board of India (SEBI) has barred Onelife Capital Advisors Limited (OCAL) and its promoters, Pandoo Naig and Prabhakara Naig, from participating in securities markets until further notice due to alleged fund diversion and misrepresentation of the company’s financial records.
i.SEBI has prohibited the Naigs from serving as a directors or key managerial personnel in any listed company that plans to raise funds from the public or any SEBI-registered intermediary until further notice.
- OCAL’s methods involve various regulatory violations, including hidden transactions among related parties without proper disclosures or approvals, diversion of funds as loans to related parties, and failures in corporate governance.
i.According to the SEBI, the questionable activities of OCAL and its promoters were overlooked or even approved by supposed watchdogs both within and outside the company, including compliance officers, audit committee members, and statutory auditors.
ii.The order followed an October 2022 complaint to SEBI about alleged fund diversion and financial misrepresentation by FCHL and OCAL. NSE also investigated OCAL based on their internal alerts.
Note: OCAL and Naigs are promoters of the Bombay Stock Exchange (BSE) listed entity Family Care Hospitals Limited (FCHL).
AWARDS & RECOGNITIONS
AFC Awards 2023: Son Heung-min and Ellie Carpenter Honored as Asia’s Best International Players
On 29th October 2024, Tottenham Hotspur and South Korea forward Son Heung-min (32 year-old) was named as Asia’s International Player of the Year by Asian Football Confederation (AFC) during its annual award ceremony held at the iconic Grand Peace Palace at Kyung Hee University in Seoul, South Korea.
i.Matildas fullback and Australian player, Ellie Carpenter, who plays for French club Lyon, won the inaugural Asian International Women’s Player of the Year Award.
ii.Akram Afif, 27 year old player from Qatar, was conferred with the AFC Player of the Year award for 2023.
iii.Kiko Seike (28 year old) player from Japan, was named as the AFC Women’s Player of the Year award for 2023.
iv.Park Youn-Jeong, a former centre back South Korean player was conferred with the AFC Coach of the Year (Women) award for year 2023.
V.Japan’s Go Oiwa won the AFC Coach of the Year (men) award for year 2023.
Vi.AFC President’s Recognition Award (GOLD)-The Saudi Arabian Football Federation (SAFF) has won the inaugural AFC President’s Recognition Award.
- All India Football Federation (AIFF) was honoured with the Asian Football Confederation (AFC) President’s Recognition Award for Grassroots Football (Silver) at the AFC Annual Awards 2023 in Seoul, South Korea.
About Asian Football Confederation (AFC):
President- Shaikh Salman bin Ebrahim Al Khalifa
Headquarters- Kuala Lumpur, Malaysia
Established- 1954
>> Read Full News
APPOINTMENTS & RESIGNATIONS
Donald Trump Elected as the 47th President of the United States of America
On 6th November 2024, Donald John Trump of the Republican Party was elected as the 47th President of the United States of America (USA) securing the popular vote and reaching the 295 electoral votes needed for victory.
- He defeated Democrat Kamala Harris (226 electoral votes) and became the first Republican to have won USA Elections by popular vote.
- He has previously served as the 45th President of USA from 2017 to 2021.
- Donald John Trump will take over from Joe Biden, incumbent President of USA, in January 2025.
Note: Donald Trump is the 1st former president to return to power since Grover Cleveland regained the White House in the 1892 election.
About Donald Trump:
i.Donald Trump, an American politician, businessman, and media personality, was born on 14th June 1946 in the Queens borough of New York City, New York, USA.
ii.Donald Trump, a renowned entrepreneur, took over his father’s company in 1971 and renamed it “The Trump Organization”, in 1973.
iii.He relinquished management of The Trump Organization to his sons Donald Trump Jr. and Eric Trump in 2017 after he became the president of USA in 2017.
iv.He was also a best-selling author and reality TV star on “The Apprentice” and its spinoff, “Celebrity Apprentice”.
v.He was part-owner of the Miss USA, Miss Teen USA, and Miss Universe beauty pageants from 1996 to 2015.
vi.In 2005, Trump launched his for-profit Trump University, offering classes in real estate and acquiring and managing wealth.
Book:
Trump has co-written more than 15 books. His noted works include Trump: Surviving at the Top (1990), Trump: The Art of the Comeback (1997), Trump 101: The Way to Success (2007), Crippled America: How to Make America Great Again (2015), and most recently Letters to Trump (2023).
Govt Appoints S. Gopalakrishnan as the Chairman of SSC
The Government of India(GoI) has appointed a 1991-batch Indian Administrative Service (IAS) officer, S. Gopalakrishnan as the Chairman of the Staff Selection Commission (SSC) with effect from 31st October 2024. The order was issued by the Department of Personnel and Training (DoPT) under the Ministry of Personnel Public Grievances and Pensions(MoPP&P).
- Gopalakrishnan succeeded Rakesh Ranjan(1992-batch IAS officer) who took the voluntary retirement from service (VRS). He was set to remain in the post till May 15, 2029.
Other appointments:
i.V. Umashankar, a 1993-batch officer, has been appointed as the Secretary of the Ministry of Road Transport and Highways (MoRTH).
ii.Vikram Dev Dutt, who was the Directorate General of Civil Aviation (DGCA), has been appointed as the Secretary of the Ministry of Coal (MoC).
iii.Tanmay Kumar, the Special Secretary in the Ministry of Environment, Forest and Climate Change(MoEFCC), has been appointed as the Secretary of MoEFCC and will take charge in December when the current Secretary, Leena Nandan, retires.
iv.Subrata Gupta, a 1990-batch officer,appointed as the Secretary of the Ministry of Food Processing Industries (MoFPI) after the retirement of the current Secretary, Anita Parveen.
ACQUISITIONS & MERGERS
CCI Approved Acquisition of Additional 31.52% Stakes of Agilus Diagnostics Limited by Fortis Healthcare Limited
On 29th October 2024, the Competition Commission of India (CCI) has approved the proposal of Fortis Healthcare Limited (FHL), a multi-speciality hospital chain in India, to acquire an additional 31.52% stakes in Agilus Diagnostics Limited (Agilus).
- Following the transaction, the shareholding of FHL in Agilus will increase from current 57.68% to 89.2%.
i.It has also approved the proposed combination inter alia envisages the merger of Diliigent Power Private Limited (DPPL) into DB Power Limited (DBPL), a wholly-owned subsidiary of DPPL, and the reorganization of Decore Thermal Power Private Limited (DTPPL) pursuant to the buyback of certain securities.
ii.It has approved the proposed combination involving acquisition of additional stake in Thoughtworks Holding, Inc. by London (the United Kingdom)-based Apax Partners Limited Liability Partnership (LLP) (AP Funds) and Temasek Holdings (Private) Limited (Temasek).
About Competition Commission of India(CCI):
It is a statutory body constituted under Competition Act, 2002.
Chairman- Ravneet Kaur
Headquarters- New Delhi, Delhi
Established- 2003
>> Read Full News
SCIENCE & TECHNOLOGY
China Launches Shenzhou-19 with 3 New Crew to its Tiangong Space Station
On 30th October 2024, China has successfully launched its Shenzhou-19 spaceship with 3 astronauts on board, including two men and one woman astronauts on a six months’ mission to its low Earth orbit space station, Tiangong Space Station (TSS).
- The spacecraft aboard Long March-2F carrier rocket which was lifted off from the Jiuquan Satellite Launch Centre in northwest China.
- This marks the 33rd flight mission of China’s manned space program and the 4th crewed mission during the application and development of TSS.
Note: China launched its 1st crewed mission in 2003 and became the 3rd nation to do so after Russia (formerly known as the Soviet Union) and the United States of America (USA).
Crew Members:
i.The new crew members include: Mission Commander Cai Xuzhe, who had previously went to the space in the Shenzhou-14 mission in 2022.
ii.While, other two members of the mission are: Song Lingdong, an air force pilot and Wang Haoze, who is currently China’s only female spaceflight engineer working with China Aerospace Science and Technology Corporation.
- Both Song and Wang are travelling to space for the 1st time and also both were born in 1990s
- With this, Haoze becomes the 3rd Chinese woman to participate in a crewed spaceflight mission.
Key Functions of the Mission:
i.The spaceship is tasked to perform a fast, automated rendezvous and docking with the front port of the TSS core module “Tianhe” in about 6.5 hours (hrs), which will result in the formation of a combination of 3 modules and 3 spacecraft.
ii.The key function of the mission include conducting space science and application tests, performing extravehicular activities, among others.
iii.The crew members of the mission will carry out 86 space research and technology experiments which will cover range of fields like: space life science, microgravity fundamental physics, space material science, among others.
About China National Space Administration(CNSA):
Administrator– Zhang Kejian
Secretary General – XU Hongliang
Headquarters– Beijing, China
IMPORTANT DAYS
National Cancer Awareness Day 2024 – November 07
National Cancer Awareness Day (NCAD) is annually observed across India on 7 November to raise awareness about the prevention, detection, and treatment of various types of cancer.
- NCAD aims to educate the public about early detection, healthy lifestyle choices, and access to quality cancer care.
Background:
i.NCAD was initiated in India in September 2014 by Dr Harsh Vardhan, the former Union Minister of Health and Family Welfare.
ii.A committee was formed and it was declared that November 7 of every year would be observed as NCAD to raise awareness about early detection and the avoidance of cancer-causing behaviours.
iii.The first NCAD was observed on 7 November 2014.
>> Read Full News
STATE NEWS
Meluri officially Declared as 17th District of Nagaland
On November 4, 2024, Meluri officially became the 17th district of Nagaland, following a notification from the Governor of Nagaland, La.Ganesan. This transition elevates Meluri from a sub-division of Phek district to an independent district.
- Meluri includes 31 villages covering an area of 1011 square kilometers (km²) with four administrative headquarters such as the industrial town of Wazeho and the International Trade Centre (ITC) in Avangkhu, Nagaland.
Key Points:
i.Meluri, primarily inhabited by the Pochury Naga tribe, is located near the international border with Myanmar.
ii.It is the fifth district established in Nagaland in the past three years, as part of the state government’s efforts to improve administrative efficiency.
iii.In 2021, the state government created Tseminyu district by splitting Kohima, and Chümoukedima and Niuland districts by dividing Dimapur.
iv.In 2022, Shamator district was formed from the eastern Tuensang district.
About Nagaland:
Chief Minister (CM)– Neiphiu Rio
Governor– La.Ganesan
National Park– Intanki National Park
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