We are here for you to provide the important current affairs November 24 2017 which have unique updates of all daily events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, India Today, Indian Express, Business Standard, all Government official websites. Our complete current affairs helps you to get more marks in Banking, insurance, UPSC, SSC, CLAT, Railway and all other competitive Exams.
- Daily Current Affairs
- Try our Current Affairs Quiz 2017
- Read Our 2017 Current Affairs
- Current Affairs 2017 November
Click here to try Current Affairs Quiz : November 24 2017
Consultative Workshop on New National Policy on Biofuels held in New Delhi
On 23rd November 2017, a consultative workshop on ‘New National Policy on Biofuels & Pradhan Mantri Ji- Van Yojana (VGF for 2nd Generation Ethanol Bio Refineries)’ was held in New Delhi.
Consultative workshop on ‘New National Policy on Biofuels & Pradhan Mantri Ji- Van Yojana’:
i. The workshop was organized by Ministry of Petroleum and Natural Gas for inviting suggestions for drafting a suitable roadmap for Biofuels in India.
ii. The workshop was organised with an objective to address growing environment concerns in the light of Prime Minister Narendra Modi’s Commitment at COP 21 (2015 United Nations Climate Change Conference).
iii. At the workshop 5 Working Groups on 1-G Ethanol, 2-G Ethanol, Biodiesel, Municipal Solid Wastes to Fuel & Bio-CNG consisting of all the stakeholders (producers, bankers and buyers) discussed issues related to their segment.
About 2015 United Nations Climate Change Conference, COP 21:
♦ 21st yearly session of the Conference of the Parties (COP) to the 1992 United Nations Framework Convention on Climate Change (UNFCCC)
♦ Date – 30 November 2015 – 12 December 2015
♦ Location – Paris, France
Indian Railways installs Asia’s largest Solid State Interlocking (SSI) in Kharagpur
Indian Railways has installed Asia’s largest Solid State Interlocking (SSI) system in Kharagpur, which will enable station masters to set 800 different routes for trains in a matter of minutes.Asia’s largest Solid State Interlocking (SSI) system in Kharagpur:
i. Interlocking is a railway signal apparatus that prevents conflicting movements of trains. Asia’s largest Solid State Interlocking (SSI) system has been installed in Kharagpur at a cost of Rs 39 crore.
ii. The cutting-edge technology replaces the pre-1989 route relay system that only allowed operators to set maximum 423 routes. The new system ensures that no cross-movement takes place.
iii. Also, the SSI software will detect the routes a particular train can take and inform the station masters working at the panel, bringing down the operation time and the possibility of human error.
iv. It will reduce the possibility of accidents. The system was made operational on 19th November 2017.
Some countries with large rail transport network size:
♦ United States – 250,000 km
♦ Russia – 175,236 km
♦ China – 124,000 km
♦ India – 66,687 km
Centre suggests Odisha to enhance PMGSY target to 10,000 km
On 23rd November 2017, the Centre suggested to the Odisha government to enhance its rural road construction target under the Pradhan Mantri Gram Sadak Yojana (PMGSY) to 10,000 km from 7,000 km during the current fiscal year.
Centre suggests Odisha to enhance PMGSY target:
i. Union Secretary to Rural Development Minister Amarjit Sinha made the suggestions to Odisha after attending a high level review meeting held under the chairmanship of Odisha Chief Secretary A P Padhi.
ii. The Odisha government had earlier set a target to construct 7,000 km roads during this fiscal. So far, around 42,058 km of road have been completed connecting 13,063 habitations under PMGSY.
iii. The field level work is going on for completion of another 14,800 km of road that will connect 3,492 habitations more. These projects would be completed by March, 2019.
iv. PMGSY is being implemented with fund support from both the Central and state government on 60:40 basis.
About Pradhan Mantri Gram Sadak Yojana (PMGSY):
♦ Launched – 2000
♦ Purpose – to provide good all-weather road connectivity to unconnected villages in India
8th edition of the Global Entrepreneurship Summit-2017 will be held at Hyderabad
The 8th edition of the Global Entrepreneurship Summit-2017 will be held from 28th to 30th November 2017 at Hyderabad.Global Entrepreneurship Summit-2017:
i. The summit is being co-hosted by India and the USA. For the first time, it is being held in South Asia. The theme of the Global Entrepreneurship Summit-2017 is ‘Women First, Prosperity for All’.
ii. The event will focus on supporting women entrepreneurs and fostering economic growth globally. It will focus on four areas- Energy and Infrastructure, Digital Economy and Financial Technology, Health and Life Sciences and Media and Entertainment.
iii. It will be inaugurated by Prime Minister Narendra Modi. Advisor to the US President, Ivanka Trump will lead the US contingent to the event. The summit will have participation from 150 countries and women from 127 countries would participate.
Some of the dams of Telangana:
♦ Singur Dam, Medak
♦ Nizam Sagar, Nizamabad
♦ Lower Manair Dam, Karimnagar
Centre Promulgates Indian Forest (Amendment) Ordinance, 2017
Union Minister of Environment, Forest and Climate Change, Dr. Harsh Vardhan has stated that Union Government has promulgated the Indian Forest (Amendment) Ordinance, 2017 to exempt bamboo grown in non-forest areas from definition of tree.
More Information about Indian Forest (Amendment) Ordinance, 2017:
i. This ordinance is aimed at increasing bamboo plantation.
ii. Taxonomically, bamboo is a grass, yet Indian Forest Act, 1927 defines it as tree, making it illegal to cut and transport bamboo grown in forest as well as non-forest land.
iii. Thus, exempting bamboo grown in non-forest areas from the definition of trees, dispenses the need to have felling or transit permit for its economic use.
iv. Current demand of bamboo in India stands at 28 million tonnes. Despite of having 19% share of world’s area under bamboo cultivation, India’s market share in the sector is only 6%.
MHA conducts Multi State Mega Mock Tsunami Exercise 2017
On November 24, 2017, Ministry of Home Affairs conducted a multi-State mega mock exercise on tsunami preparedness along the East Coast of India.
More Information about Multi State Mega Mock Tsunami Exercise 2017:
i. This exercise was conducted through National Disaster Management Authority (NDMA) and the Indian National Centre for Ocean Information Services (INCOIS) in 31 coastal districts across four States – West Bengal, Odisha, Andhra Pradesh and Tamil Nadu – and Union Territory Puducherry.
ii. Tsunami is a highly devastating natural hazard triggered by tectonic movement under the sea. All the above mentioned states along East Coast of India are particularly vulnerable to Tsunami.
iii. This mock exercise is part of various activities planned on the occasion of the 2nd World Tsunami Awareness Day held on November 5, 2017. It aims to critically assess the preparedness, response mechanism and coordination among agencies involved in the exercise.
iv. Simulated disaster scenario for this exercise was the threat of a massive tsunami along the East Coast triggered due to a high-intensity earthquake near the Andaman and Nicobar Islands.
Dr Jitendra Singh announces exclusive ‘Rural Livelihood’ scheme for Northeast
On November 23, 2017, Union Minister of State (Independent Charge) for Development of North-Eastern Region (DoNER), Dr Jitendra Singh announced “North East Rural Livelihood Project”, an exclusive rural Livelihood scheme for the North-eastern states of India.Salient Features of “North East Rural Livelihood Project”:
i. This scheme has been launched to benefit the tribals and the lower socioeconomic groups, including women, in the North-Eastern Region of India.
ii. This project is being supported by World Bank.
iii. Initially, this scheme will be rolled out to help tribal and even the non-tribal lower groups living in remote areas of four North-Eastern Indian States – Mizoram, Nagaland, Sikkim and Tripura.
iv. Under this scheme, assistance will be provided to over 10000 Self Help Groups (SHGs) which will consequentially benefit about three lakh poor households.
TN has highest number of women entrepreneurs: Report
As per a report by ‘Sheatwork’, a knowledge hub for women entrepreneurs, among all Indian States, Tamil Nadu has the highest number of women entrepreneurs followed by Kerala and West Bengal.
i.T he report by ‘Sheatwork’ has outlined that nearly 80 per cent of women entrepreneurs in India are self-financing their businesses. Very few women entrepreneurs have availed financial aid through various government schemes.
ii. Among all State Governments, Goa, Jammu and Kashmir, Rajasthan, Karnataka and West Bengal are currently offering the maximum number of schemes for women entrepreneurs.
iii. Maximum number of women entrepreneurs have set up their businesses in education sector followed by financial services and insurance.
iv. Ratio of male to female entrepreneurs in northeastern states of Arunachal Pradesh, Meghalaya and Nagaland strongly favours women. However, numbers of women entrepreneurs in these states is quite low.
Centre announces infrastructure projects worth Rs 1 lakh crore for Tamil Nadu
On November 23, 2017, Central Government approved infrastructure projects worth Rs 1 lakh crore in Tamil Nadu.
i. These approved projects include highways and shipping as well as projects catering to irrigation and drinking water requirements in Tamil Nadu.
ii. Union Road Transport and Shipping Minister, Nitin Gadkari was on a visit to Chennai on November 23, 2017. During this visit, he announced highway projects worth Rs 40,000 crore under the Bharatmala highway construction program.
iii. Highway projects that have been announced are Chennai- Bengaluru Expressway at an estimated cost of Rs 20,000 crore and three new elevated corridors (Tambaram- Chengelpatu at a cost of Rs 2250 crore, Poonamalee- Maduravoyal at a cost of Rs 1500 crore and the Tiruvallur Corridor at a cost of Rs 1000 crore).
iv. Shipping projects that have been announced will focus on port development and expansion.
Quick Facts about Tamil Nadu:
♦ Capital – Chennai
♦ Current Chief Minister – E K Palaniswami
♦ Current Governor – Banwarilal Purohit
♦ Important National Park – Gulf of Munnar Marine National Park, Mudumalai National Park
India asks UN to declare 2018 as International Year of Millets
Indian Government has written a letter to United Nations (UN) urging to declare 2018 as the ‘International Year of Millets’. If this request is accepted by UN, it will help in spreading awareness about nutritional value of millets across the world.i. Union Agriculture Minister Radha Mohan Singh wrote a letter to UN Secretary General Antonio Guterres stating that there is a need to promote millets as awareness is low among consumers, policy makers as well as food industry.
ii. In terms of nutritional value, millets are superior to wheat and rice as it contains higher level of protein with more balanced amino acid profile, crude fibre and minerals.
iii. According to Mr. Singh encouraging production and consumption of millets through targeted efforts at global level will immensely help in the fight against hunger.
♦ Millets are a group of small-seeded grasses that are grown around the world as cereal crops or grains for fodder and human food.
♦ It includes sorghum, ragi, pearl millet, small millet, proso millet, foxtail millet, barnyard millet and other millets.
Jindal Global University breaks into QS University Rankings: BRICS 2018
O.P. Jindal Global University (JGU) has been ranked among the Top 10 Private education Institutions in India in ‘QS University Rankings: BRICS 2018’.
More Information about JGU and QS University Rankings: BRICS 2018:
i. QS University Ranking BRICS 2018 edition was released in New Delhi on November 23, 2017 by Chairman of University Grants Commission (UGC), Professor (Dr.) V.S. Chauhan.
ii. These rankings provides insights into the relative strengths and weaknesses of leading education institutions in Brazil, Russia, India, China and South Africa (BRICS).
iii. The rankings are based on various performance indicators viz. academic reputation, proportion of staff with a PhD, employer reputation, faculty / student ratio, proportion of international faculty and students, research publications and citation rates.
iv. JGU is placed in the 251-300 rank out of 9000 universities in the BRICS region. By featuring in QS University Rankings BRICS 2018, JGU has become youngest Indian University to have been ranked in an international ranking.
Quick Facts about O.P. Jindal Global University (JGU):
♦ Established in – 2009
♦ Location – Sonipat, Haryana
♦ Current Chancellor – Naveen Jindal (Industrialist)
BANKING & FINANCE
President approves ordinance to amend Insolvency and Bankruptcy Code
On November 23, 2017, President Ram Nath Kovind gave his consent to an ordinance to amend the Insolvency and Bankruptcy Code (IBC). This ordinance will now be presented in the upcoming Winter Session of Parliament. The provisions of this ordinance are aimed towards preventing misuse of IBC by unscrupulous, undesirable persons.
i. Wilful defaulters, whose accounts have been classified as non-performing assets (NPAs) for one year or more and are unable to settle their overdue amounts including interest will be considered ineligible to be a ‘resolution applicant.’
ii. The new sections to be added in the IBC through the ordinance not only restricts such persons to participate in the resolution or liquidation process, but also stipulates that Committee of Creditors (CoC) should ensure the viability and feasibility of the resolution plan before approving it…………………………………………Click here to Read more
SBI launches YONO, an integrated app for financial services
On November 24, 2017, State Bank of India (SBI) unveiled ‘YONO’, India’s first integrated lifestyle and banking app.Salient Features of SBI’s YONO:
i. YONO was launched by Union Finance Minister, Arun Jaitley.
ii. Abbreviation YONO stands for ‘You Only Need One’.
iii. YONO is the first digital banking platform which not only has a range of banking and financial services but also provides customised products and offers from over 60 e-commerce companies by using advanced analytics .
iv. YONO will have offers for 14 service categories including booking and renting cabs, dining out, entertainment, travel and stay.
v. Amazon, Ola, Myntra, Uber, Jabong, Cox & Kings, Shoppers Stop, Thomas Cook, Yatra, Airbnb, and Byjus are some of the companies with which SBI has partnered to provide customised offers and discounts through YONO.
vi. Customer will be able to view and avail all the offers across different services categories with a single user ID and password.
Bajaj Allianz General Insurance launched ‘Pro-fit’ platform
Bajaj Allianz General Insurance has launched ‘Pro-fit’, a platform that will act as a one-stop solution to all the health-record tracking needs of customers.
i. Pro-Fit is available on Bajaj Allianz General Insurance’s self-service app ‘Insurance Wallet’ and can also be accessed on the company website.
ii. Customers can store their health records, track their fitness levels, and get reminders for vaccinations or medications.
iii. Bajaj Allianz General Insurance is one of the leading private general insurance company in India. Bajaj Allianz is a joint venture (JV) between Bajaj Finserv and Allianz SE, the world’s leading insurer and largest asset manager.
About Bajaj Allianz General Insurance:
♦ Founded – 2001
♦ Headquarters – Pune
♦ MD & CEO – Tapan Singhel
♦ Products – Motor Insurance, Health Insurance, Travel Insurance, Home Insurance, Marine Insurance
RBI relaxes 26% debt-equity conversion cap for ARCs
On November 23, 2017, Reserve Bank issued a notification which relaxed norms capping asset reconstruction companies (ARCs) shareholdings at 26 per cent in the borrower firm under reconstruction.
i. However, this relaxation is subject to the condition that the net-owned funds are maintained at Rs 100 crore on an ongoing basis.
ii. As per earlier provisions, ARCs could convert a portion of the debt into equity of the borrower company only to the extent of 26 per cent of the revamped equity capital.
iii. Beside, all ARCs with at least half of the directors (including independent directors) have also been exempted from the 26 per cent shareholding cap in the borrower firm.
iv. RBI has asked the boards of ARCs to frame a policy for converting debt into equity. It has recommended that final decision on such matters should be taken by a committee comprising mostly independent directors.
Kotak Mahindra Bank launches “Smart Banking 24×7” e-Lobbies
On November 20, 2017, Kotak Mahindra Bank (Kotak) launched “Smart Banking 24X7” e-lobbies, in the Mumbai suburbs of Juhu and Powai.More information about Kotak Mahindra Bank’s “Smart Banking 24X7” e-lobbies:
i. “Smart Banking 24×7” e-Lobbies gives customers the freedom to complete banking transactions at any hour of the day as per their convenience.
ii. It offers 24×7 access to a range of banking services such as cash withdrawals, cash deposits and cheque deposits.
iii. These e-lobbies have been structured to give an easy and non-intrusive banking experience.
Quick Facts about Kotak Mahindra Bank:
♦ Granted Banking Licence in – 2003
♦ Headquarters – Mumbai, Maharashtra
♦ Founder, Executive Vice Chairman and MD – Uday Kotak
♦ Tagline – ‘Let’s make money simple’
Canara Bank rolls out Canarites app and digital library
On November 19, 2017, Canara Bank celebrated its Founder’s Day by rolling out several initiatives and benefits for its staff.
i. Canara Bank was founded on July 1, 1906, by late Ammembal Subba Rao Pai, at Mangaluru.
ii. Several initiative including a Canarites app, a digital library, a field recovery mobile app, a retail loan (vehicle) – tracking system, and a regulatory guidance tracking system were launched on this occasion.
iii. Currently, Canara Bank has a clientele base of over eight crore.
iv. There are 6165 branches of Canara Bank and over 10300 ATMs spread across India.
Quick Facts about Canara Bank:
♦ Founded in – 1906
♦ Headquarters – Bengaluru, Karnataka
♦ Current MD & CEO – Rakesh Sharma
♦ Tagline – ‘Together we can’
Uber to partner with Mahindra and Mahindra to pilot electric vehicles in India
On 24th November 2017, Uber Technologies partners with Mahindra and Mahindra (M&M) to add electric vehicles on its platform in India.
Uber Technologies to partner with Mahnidra and Mahindra (M&M):
i. Uber will deploy hundreds of electric vehicles in Delhi and Hyderabad, and will consider adding the cars in other cities across India.
ii. Mahindra’s electric vehicles on the Uber platform will include the e2oPlus hatchback and the eVerito sedan.
iii. As part of the arrangement, driver partners on the Uber app can avail of a package that will include Mahindra electric vehicles at competitive prices, attractive financing and insurance premiums as well as comprehensive maintenance packages from M&M and its associates.
iv. M&M will also support driver education and training related to various aspects of electric vehicles.
About Uber Technologies:
♦ Founded – 2009
♦ Founders – Travis Kalanick, Garrett Camp
♦ Headquarters – San Francisco, California
AWARDS & RECOGNITIONS
Rajkummar Rao, ‘Newton’ win big at Asia Pacific Screen Awards
On 23rd November 2017, Bollywood movie ‘Newton’ secured two wins with Rajkummar Rao winning the best actor award at the Asia Pacific Screen Awards in Brisbane, Australia.Asia Pacific Screen Awards:
i. For ‘Newton’, Rajkummar Rao won the best actor award and Mayank Tewari and Amit V. Masurkar secured the best screenplay honour.
ii. Newton was produced by Drishyam Films and directed by Amit V. Masurkar. The movie revolves around a young government clerk who is sent on election duty to a Maoist-controlled town and how the ideological struggle puts him in an awkward situation.
iii. India’s Lady of the Lake by director Haobam Paban Kumar won a special mention in the Cultural Diversity Award under the Patronage of UNESCO category.
About Asia Pacific Screen Awards:
♦ Awarded for – Best in film and documentary in the Asia-Pacific region
♦ Country – Australia
♦ Presented by – UNESCO (United Nations Educational, Scientific and Cultural Organization), FIAPF (International Federation of Film Producers Associations) and Brisbane City Council, Australia
APPOINTMENTS & RESIGNS
Emmerson Mnangagwa sworn in as Zimbabwe’s President
On 24th November 2017, Emmerson Mnangagwa sworn in as Zimbabwe’s second president since independence in 1980.
Emmerson Mnangagwa – Zimbabwe’s President:
i. Emmerson Mnangagwa took his oath of office in front of tens of thousands of Zimbabweans at National Sports Stadium in Harare.
ii. He received a 21-gun salute, firing of a cannon and a military aircraft fly past, in a colorful ceremony attended by African leaders and other dignitaries to mark the historic moment.
iii. He vowed to tackle corruption, reimburse the farmers whose land was seized under his predecessor, Robert Mugabe, and protect foreign investment in Zimbabwe.
iv. He will serve until the end of the presidential term next year. An election date has not yet been set.
Presidents of various countries:
♦ Afghanistan – Ashraf Ghani
♦ China – Xi Jinping
♦ Greece – Prokopis Pavlopoulos
♦ Israel – Reuven Rivlin
SCIENCE & TECHNOLOGY
Scientists make world’s smallest tape recorder from bacteria
Columbia University researchers have converted a bacterial immune system into the world’s smallest data recorder.
World’s smallest tape recorder from bacteria:
i. The researchers at the Columbia University Medical Center (CUMC) in the US modified an ordinary laboratory strain of the human gut microbe Escherichia coli, using CRISPR gene-editing method. This enabled the bacteria to not only record their interactions with the environment but also time-stamp the events.
ii. It could be used for disease diagnosis and environmental monitoring. Other applications are environmental sensing and basic studies in ecology and microbiology.
iii. The Science paper is titled, “Multiplex recording of cellular events over 1 time into a CRISPR biological tape.” The contributors are: Harris Wang, Sung Sun Yim and Felix L. Wu (CUMC).
About Columbia University Medical Center (CUMC):
♦ Founded – 1767
♦ Includes – Columbia University’s College of Physicians and Surgeons, College of Dental Medicine, School of Nursing and Mailman School of Public Health, Morgan Stanley Children’s Hospital, New York State Psychiatric Institute, Audubon Biomedical Research Park, etc.
First Indian casino game training course centre in Goa
On 24th November 2017, Delta Corp Limited claimed to have set up the first casino game training course centre in India, at Goa.First Indian casino game training course centre in Goa:
i. The casino game training courses were set up in 2013 as a part of Delta Corp Limited’s Corporate Social Responsibility (CSR) in Goa.
ii. Anil Malani, President Delta Corp Ltd said that, they have a designated batch of 20 courses which is absolutely free. Also, after passing the course, most of the students get recruited in premier hotels like Hyatt or Taj.
iii. The state government-recognised courses are either in diploma – which runs through a year or certified – that ends in six months.
About Delta Corp Limited:
♦ Type – real estate, gaming and hospitality corporation
♦ Founded – 1990
♦ Chairman – Jaydev Mody
Sixth edition of Swimmathon will be held in Goa
The sixth edition of Swimmathon, open water swimming competition, is to be held at Colva beach in South Goa on 3 December, 2017.
i. The Swimmathon had been accredited by the Swimming Federation of India as the national selection trials. Olympian Virdhawal Khade is the brand ambassador of Swimmathon.
ii. Swimmathon is organized by Square Off Sports. This year the event will have four categories which includes 10K and 5K for both men and women.
iii. Winners of Swimmathon, both men and women in 5K and 10K races, will represent India at the FINA World Championship and Asian and Commonwealth Games.
iv. The total cash prize for the event is Rs 4 lakh with winners in 10K and 5K categories (male and female) getting Rs 50,000 and Rs 25,000 each.
About Swimming Federation of India:
♦ Purpose – central governing body for promotion and administration of swimming sport in India
♦ President – Digambar V. Kamat
♦ General Secretary – Kamlesh Nanavati
Indian football team remains 105th in FIFA rankings
On 23rd November 2017, the Indian football team remained static at 105th in the latest FIFA (International Federation of Association Football) rankings.
India – 105th in FIFA rankings:
i. India drew with Myanmar 2-2 in the AFC Asian Cup qualifiers at the Sri Kanteerava Stadium in Bangalore during this ranking period.
ii. Among the Asian Football Confederation countries, the Indian team occupies 15th position, ahead of Jordan, North Korea and Bahrain. Iran led the Asian rankings and world champions Germany are on top of world rankings.
About FIFA (International Federation of Association Football):
♦ Founded – 21 May 1904
♦ Headquarters – Zurich, Switzerland
♦ President – Gianni Infantino
Youth Women’s World Championships 2017 held in Guwahati
On 19 – 26th November 2017, Youth Women’s World Championships 2017 is held in Guwahati, Assam.
Youth Women’s World Championships 2017:
i. The World Youth Women’s Boxing Championship 2017 was inauguratedat Md. Toyabullah Hockey Stadium in Bhetapara by Assam chief minister Sarbananda Sonowal.
ii. It is organised by AIBA (International Boxing Association). Over 150 boxers from 38 countries are competing in the event, being held in India for the first time.
iii. So far, Indian boxers have given their best ever performance at the AIBA Women’s Youth World Championships, adding 7 medals to India.
iv. Jyoti Gulia (51kg), Shashi Chopra (57kg), Ankushita Boro (64kg), Nitu (48kg) and Sakshi Choudhary (54kg) entered the semi-finals after winning their respective quarter-finals.
v. Neha Yadav (+81kg) and Anupama (81kg), reached the last-four stage due to the small size of the draws of their respective weight categories.
About Youth Women’s World Championships Guwahati 2017:
♦ Dates – 19 -26 November 2017
♦ Location – Guwahati, Assam
♦ Organised by – AIBA (International Boxing Association)