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CURRENT AFFAIRS : BANKING & FINANCE
Reserve Bank of India’s Diwali Initiative: Covertly Transporting 102 Tonnes of Gold from England to India
- On Dhanteras (October 29, 2024), the Reserve Bank of India (RBI) transported an additional 102 tonnes of gold from the Bank of England to secure storage facilities within India.
Key Highlights :
- RBI’s Gold Holdings:As per the RBI’s 43rd Half Yearly Report on Management of Foreign Exchange Reserves (April – September 2024), the RBI holds a total of 854.73 metric tonnes of gold.
- 46 metric tonnes of this gold is stored domestically, while 324.01 metric tonnes are held overseas with the Bank of England and the Bank for International Settlements (BIS).
- An additional 26 metric tonnes are held in the form of gold deposits.
- Gold Repatriation:Since September 2022, approximately 214 tonnes of gold have been brought back to India due to increased focus on asset security amid global geopolitical tensions.
- In May 2024, around 100 tonnes of gold were repatriated from the Bank of England.
- Gold’s Role in Forex Reserves:The share of gold in India’s total foreign exchange reserves increased from 15% in March 2024 to 9.32% in September 2024.
- Reason for Storing Gold Overseas:India and other nations store gold with the Bank of England primarily due to immediate access to the London bullion market, which facilitates liquidity.
- The Bank of England is the second-largest custodian of gold globally, after the New York Federal Reserve.
About RBI :
- Established : 1 April 1935
- Headquarters : Mumbai, Maharashtra, India
- Governor : Shaktikanta Das
Axis Bank Partners with Mintoak to Provide SMEs with Merchant Payments and Business Solutions
- Mintoak and Axis Bank have partnered to promote financial inclusion and enhance digital payment adoption among small and medium-sized enterprises (SMEs) in the digital ecosystem.
Key Highlights :
- Platform Details: Axis Bank will use Mintoak’s white-labelled mobile SaaS platform to support SMEs with merchant payment acceptance, access to transaction reports, and easy service request submissions through a dedicated app.
- Launch of Neo for Merchants: This partnership has introduced the “neo for merchants” app, a payment acceptance and commerce enablement solution aimed at simplifying digital payments and business solutions for SMEs.
- Mintoak’s SaaS Platform: Mintoak’s cloud-native, API-first platform allows banks and merchant acquirers to offer digital business solutions that include payments, lending, and engagement, catering to SMEs across India, Africa, and the Middle East.
- Merchant Acquirer Clients: Mintoak’s solutions are implemented by major banks including HDFC Bank, SBI, Axis Bank, YES Bank in India, as well as global banks like Absa and Burgan Bank.
- Challenges Addressed: The platform tackles common SME challenges such as fragmented payment systems, high operational costs, and external reliance by providing a cost-effective app that integrates payment acceptance and transaction management.
- Additional Benefits for SMEs: The platform offers data insights to help SMEs manage transactions, service requests, and independent business operations in a digital-first marketplace
- CEO & Co-Founder, Mintoak : Raman Khanduja
About Axis Bank :
- Established : 3 December 1993
- Headquarters: Mumbai, Maharashtra, India
- MD & CEO: Amitabh Chaudhry
- Tagline : Badhti Ka Naam Zindagi
Bank of Baroda launches bob Utsav Deposit Scheme
- Bank of Baroda launched the bob Utsav Deposit Scheme, a special term deposit for a tenure of 400 days, applicable on deposits below ₹3 crore, effective from October 14, 2024.
Interest Rates:
- General Public: 7.30% p.a.
- Senior Citizens: 7.80% p.a.
- Super Senior Citizens (80+ years): 7.90% p.a.
- Non-Callable Deposits: Up to 7.95% p.a.
- Limited Period Offer: bob Utsav is a limited-time festive offer introduced by BoB.
- Interest Rate Increase: BoB increased rates by 30 basis points on fixed deposits with a 3-5 year tenure, from 6.50% p.a. to 6.80% p.a., benefiting both bob Utsav and bob SDP (Systematic Deposit Plan) customers.
- Other High-Interest Deposit: BoB’s highest rate (outside bob Utsav) is 7.15% on deposits with a 2-3 year tenure.
About BoB :
- Established : 20 July 1908
- Headquarters : Vadodara, Gujarat, India
- MD & CEO : Debadatta Chand
- Tagline : India’s International Bank
DBS Bank India: Pioneering Gender Equity Initiatives
- DBS Bank India has been awarded as one of the ‘Best Companies for Women in India’ (BCWI) 2024 for the ninth consecutive year.
- The bank is part of the “Best Companies – Hall of Fame,” recognizing its sustained commitment to gender equity and diversity.
- Awarding Bodies:The award is presented by Avtar and Seramount, highlighting their recognition of the bank’s initiatives.
- Workforce Representation:Women make up 31% of DBS Bank India’s workforce, with a target to increase this representation to 35% in the next three years.
- Diversity, Equity, and Inclusion (DEI) Council:DBS Bank has established a DEI Council led by senior leadership, focusing on creating an inclusive work environment and promoting diverse talent.
Key DEI Programs and Initiatives:
- High-Potential (HiPo) Programme:Targets high-performing employees, with over 25% of participants being women. Includes training and mentoring from senior leaders.
- ‘LEAD’ Programme:Aims to empower high-performing women in senior roles through individual development plans and workshops with industry leaders.
- ‘MyPersona’ Women Leadership Development Programme:Focuses on mid-level women professionals, providing skills and mentorship for advancement to senior positions.
- ‘Reimagine’ Programme:A six-month internship for women returning to work after a career break, offering project experience and mentorship.
- ‘iGrow’ Platform:An AI/ML-powered tool for employees to explore career aspirations, gain insights, and access development resources, with a 77% adoption rate.
- ‘RISE’ Forum:Launched in 2023 to provide networking opportunities and community building for women in the organization.
- DBS ‘Lean-In’ Circles:Collaborative spaces for colleagues to discuss challenges, support each other, and celebrate achievements.
- ‘Ref(h)er’ Programme:Contributed to over 43% of female hires in 2023, enhancing women’s representation across various levels and functions.
About DBS Bank India :
- Established : 1994
- Headquarters : Mumbai, Maharashtra
- MD & CEO : Surojit Shome
- Tagline : Live more, Bank less
CURRENT AFFAIRS: NATIONAL NEWS
Union Minister Piyush Goyal Inaugurates ODOP Wall in Saudi Arabia
- Union Minister Piyush Goyal inaugurated the “One District One Product” (ODOP) Wall at the Indian Embassy in Riyadh during his two-day visit to Saudi Arabia.
- The ODOP initiative seeks to promote unique local products from Indian districts internationally, bolstering the “Made in India” movement.
Key Objectives of the ODOP Initiative
- Promotion of Local Products: The ODOP Wall highlights distinctive products from various Indian districts, aiming to transform these regions into global “Made in India” hubs.
- Economic Empowerment: The initiative fosters sustainable livelihoods by connecting Indian artisans and entrepreneurs with global retail opportunities, boosting market reach.
- Support for Rural Development: Originally launched in 2018 by the Ministry of Food Processing Industries, ODOP focuses on maximizing each district’s potential and creating employment opportunities, especially in rural areas.
Goyal’s Engagements in Saudi Arabia
Economic and Cultural Interactions
- Meeting with ICAI Members: Goyal engaged with members of the Institute of Chartered Accountants of India (ICAI) in Saudi Arabia, encouraging them to adopt best practices to strengthen economic ties between the two nations.
Pravasi Parichay and Diaspora Recognition
- Connecting the Diaspora: The “Pravasi Parichay” program, whose closing ceremony coincided with Goyal’s visit, was organized to help the Indian diaspora in Saudi Arabia stay connected with their roots.
- Appreciation for Indian Community: Goyal lauded the contributions of the Indian diaspora, emphasizing their role as a cultural bridge that strengthens India-Saudi Arabia relations and promotes mutual understanding.
Strategic Partnership and Economic Cooperation
Goyal’s visit supports efforts to deepen India-Saudi Arabia relations, with discussions focused on expanding trade, investment, and bilateral cooperation to strengthen this strategic partnership.
About the ODOP Programme
- Launched: 2018 by the Ministry of Food Processing Industries.
- Purpose: To promote district-specific products as export hubs and encourage socio-economic growth.
- Impact: Through ODOP, districts across India are empowered to enhance their visibility on global platforms, driving cultural and economic growth.
CURRENT AFFAIRS : INTERNATIONAL NEWS
United States, Japan, and South Korea collaborate to boost digital infrastructure development in India
- The United States, Japan, and South Korea have launched the Digital Infrastructure Growth Initiative for India (DiGi Framework) to enhance collaboration with India’s private sector for supporting digital infrastructure.
Participating Organisations:
- S. International Development Finance Corporation (DFC)
- Japan Bank for International Cooperation (JBIC)
- Export-Import Bank of Korea (Korea Eximbank)
Key Signatories:
- Scott Nathan, CEO of DFC
- Nobumitsu Hayashi, Governor of JBIC
- Hee-sung Yoon, Chairman and CEO of Korea Eximbank
- Primary Focus: The DiGi Framework aims to support various ICT sector projects, including:
- 5G networks
- Open RAN (Radio Access Network)
- Submarine cables
- Optical fiber networks
- Telecom towers
- Data centers
- Smart city projects
- E-commerce, AI, and quantum technology initiatives
- Objective: The framework streamlines the process for funding and managing strategic digital infrastructure projects in collaboration with the Indian private sector.
- Additional Benefits:The DiGi Framework encourages policy dialogues with the Indian Government and private sector to promote private funding for digital infrastructure projects in India.
About DFC:
- Established: December 20, 2019
- Headquarters: Washington, D.C.
- CEO: Scott A. Nathan
- Role: DFC is the U.S. government’s development finance institution, dedicated to providing financing for development projects around the world.
About JBIC :
- Formed : October 1, 1999 through the merger of the Japan Export-Import Bank (JEXIM) and the Overseas Economic Cooperation Fund (OECF).
- Headquarters : Tokyo, Japan
- President & CEO : Tadashi Maeda
CURRENT AFFAIRS : STATE NEWS
Rajasthan Village Advances Towards Zero-Waste with Green Technology Initiatives
- Aandhi is a small village in Jaipur district, approximately 43 km from Jaipur, Rajasthan.
- It is implementing a zero-waste model to manage waste effectively.
Types of Waste Addressed:
- Food Waste: Includes kitchen scraps and agricultural residues.
- Agro Waste: Waste generated from farming activities.
- Waste Water: Greywater and sewage from households and institutions.
- Hospital Waste: Waste from local health facilities.
Technology Interventions:
- Organic Waste Bio-Methanation Plant: Converts organic waste into biogas using anaerobic digestion, providing clean energy for cooking and electricity.
- Vermifiltration Technology: Utilizes earthworms to treat wastewater, making it suitable for reuse in irrigation and landscaping.
- Constructed Wetlands: Replicates natural processes to treat wastewater and enhance biodiversity in the local ecosystem.
Demonstration Projects: Inaugurated at three key locations:
- Government school (Bio-Methanation Plant)
- Community health center (Vermifiltration Technology)
- Main pond (Constructed Wetlands)
Capacity and Sustainability:
- The Bio-Methanation Plant has a capacity of 100 kg.
- The Vermifiltration system can treat 10 kiloliters per day (KLD).
- Constructed Wetlands can manage 20 KLD of wastewater.
- Energy Integration: All systems integrate solar energy to enhance sustainability and reduce carbon footprints.
- Resource Recovery Center (RRC): Partnerships with recycling agencies for proper waste segregation and recycling of materials, contributing to a circular economy.
- Vermicomposting: Development of vermicomposting units and dissemination of techniques among villagers to promote organic waste management.
- Environmental Goals: Aligns with India’s broader objectives of environmental sustainability, climate change mitigation, and waste-to-wealth initiatives.
- Replicability: The project aims to create a self-sustaining model that can be replicated in other rural areas across India, promoting inclusive and sustainable development.
- Future Prospects: The initiative presents a pathway for India towards a development-led, inclusive, and sustainable net-zero nation.
About Rajasthan :
- Governor : Haribhau Bagade
- Chief Minister : Bhajan Lal Sharma
- Capital : Jaipur
- National Park : Keoladeo National Park, Ranthambore National Park
- Wildlife Sanctuary : Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary
Uttarakhand set to introduce Uniform Civil Code (UCC) by November 9; draft submitted to Chief Minister
- The Uniform Civil Code in Uttarakhand is expected to be implemented by November 9,2024 coinciding with the state’s 24th Foundation Day.
- The Rules and Implementation Committee submitted its report to Chief Minister Pushkar Singh Dhami detailing the procedures for UCC implementation, covering various civil matters.
Key Highlights :
- Draft Rules Contents:The draft rules include regulations for:
- Registration of marriages
- Divorces
- Live-in relationships
- Births and deaths
- Rules of succession
- Legislative Background:The UCC Bill was passed by the Uttarakhand Assembly in February and received the President’s approval in March, making Uttarakhand the first state in India to enact such legislation.
- Digital Documentation:The committee recommended the introduction of digital documentation facilities for:
- Marriage and live-in relationship registrations
- Drawing up wills
- Registry modifications
- Committee Composition:The committee was headed by Shatrughan Singh, a retired IAS officer, and included various members, such as:
- Social worker Manu Gaur
- Doon University Vice Chancellor Surekha Dangwal
- Additional Director General of Police Amit Sinha
- Resident Commissioner Ajay Mishra
- Meetings and Stakeholder Engagement:The committee conducted over 130 meetings since its formation in February to gather inputs and finalize the rules.
- Potential Model for Other States:The ruling BJP aims to use Uttarakhand’s UCC as a model for implementation in other states, with the rules template designed accordingly.
- Comprehensive Report:The report submitted to the CM is over 500 pages long and includes the rules for UCC implementation and a detailed account of the rule-making process, involving legal experts and interns.
About Uttarakhand :
- Governor : Gurmit Singh
- Chief Minister : Pushkar Singh Dhami
CURRENT AFFAIRS: AWARDS AND HONOURS
Francis Ford Coppola to Receive AFI Life Achievement Award
- Legendary filmmaker Francis Ford Coppola will be honoured with the AFI Life Achievement Award in its 50th year at a ceremony on April 26, 2025, at Hollywood’s Dolby Theatre.
- At 86, Coppola receives this award shortly after the release of his latest film, Megalopolis, underscoring his lifetime of groundbreaking work in cinema.
- The tribute will be broadcast on TNT, with encore presentations on Turner Classic Movies (TCM).
- Proceeds from the event will benefit the American Film Institute’s (AFI) education and arts programs.
About the AFI Life Achievement Award
- The AFI Life Achievement Award is the institute’s most prestigious honor, recognizing individuals who have made exceptional contributions to the art of film. Kathleen Kennedy, chair of the AFI board, praised Coppola as a “peerless artist” whose legacy includes a profound influence on American cinema and a unique spirit of creative independence.
Coppola’s Monumental Impact on Cinema
Coppola is celebrated for a body of work that includes:
- The Godfather and The Godfather Part II, widely regarded as two of the greatest films in cinematic history.
- Apocalypse Now, a landmark film in war cinema.
- Other influential films such as Patton, The Conversation, and Bram Stoker’s Dracula.
Additionally, through his studio American Zoetrope, Coppola has mentored numerous filmmakers, impacting both the industry and his own family members, including Sofia Coppola and Roman Coppola.
American Film Institute (AFI) Overview
The American Film Institute (AFI) is a leading non-profit organization founded in 1967 to preserve, advance, and educate about American film. Key AFI initiatives include:
- AFI Life Achievement Award: Honors individuals with extraordinary careers in film.
- AFI Conservatory: A graduate film school offering advanced programs in various filmmaking disciplines.
- Film Preservation: Ensures that classic American films are preserved and accessible for future generations.
AFI also hosts public programs like:
- AFI Fest: An annual film festival in Los Angeles celebrating global cinema.
- AFI Catalog: An extensive database documenting American films’ production, cast, and reception.
Wagh Bakri Tea Group Honored with Generational Legacy Award for Outstanding Contribution to the Indian Economy
- The Wagh Bakri Tea Group has been awarded the prestigious “Generational Legacy Award for Outstanding Contribution to the Indian Economy” by Hurun India.
- This recognition was presented during the inaugural Hurun India Family Business Awards, highlighting the group’s significant impact on the Indian economy and celebrating its enduring legacy in the tea industry.
Award Overview
- Award Name: Generational Legacy Award for Outstanding Contribution to the Indian Economy
- Presented By: Hurun India during the inaugural Hurun India Family Business Awards
- Location: Mumbai
Recognition Significance
- The award acknowledges the Wagh Bakri Tea Group’s significant contributions to the Indian economy.
- It celebrates the group’s enduring legacy in the tea industry.
Desai Family Representation
The award was accepted by key members of the Desai family, including:
- Rasesh Desai – Managing Director
- Paras Desai – Executive Director
- Vidisha Parag Desai – Director
- Priyam Parikh – Director
The presentation was made by Anas Rahman Junaid, Founder of Hurun India, and Dr. Nitin Singh, Managing Director of Barclays Private Clients.
CURRENT AFFAIRS: MOUS AND AGREEMENT
Indian Railways Renews MoU with Switzerland’s DETEC for Modernization and Efficiency
- Indian Railways has renewed its Memorandum of Understanding (MoU) with Switzerland’s Federal Department of the Environment, Transport, Energy and Communications (DETEC).
- This agreement, initially established in 2017, reinforces India’s commitment to modernizing railway infrastructure and improving operational efficiency.
- Signed through video conferencing, the renewal highlights both countries’ dedication to advancing railway technology and enhancing service quality.
Key Focus Areas of the MoU
The MoU targets several critical areas for railway enhancement, including:
- Track Maintenance and Management: Integrating advanced solutions to improve track quality and management efficiency.
- Technological Upgrades and Equipment: Adoption of Swiss technology, such as traction rolling stock, electric multiple units, tilting trains, and railway electrification systems, to bolster railway operations.
- Station Modernization and Multimodal Integration: Improving passenger experience through station upgrades and seamless integration with other transportation systems.
- Tunneling and Freight Optimization: Leveraging Swiss expertise to enhance tunneling technology and improve freight capacity and efficiency.
Joint Working Group (JWG) for Collaboration
- Since the partnership’s inception, a Joint Working Group (JWG) has conducted regular meetings, with the latest on October 11, 2023.
- This collaborative framework facilitates discussions on capital expenditures and investment avenues for Swiss firms involved in the modernization of Indian railways.
- Through this partnership, Indian Railways expects support from Swiss companies in the form of machinery, materials, and consulting services for infrastructure projects, particularly in tunneling.
Commitment to Modernization Goals
- Union Minister Ashwini Vaishnaw emphasised the MoU’s alignment with India’s modernization goals, aiming to improve efficiency, reliability, and service quality in both passenger and freight operations.
- Mridul Kumar, India’s Ambassador to Switzerland, and Federal Councilor Albert Roesti were among those endorsing the MoU, reflecting the commitment of both nations to utilizing Swiss technical expertise in India’s ongoing railway transformation.
CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS
Indian Neuroscientist Shubha Tole Appointed as President-Elect of International Brain Research Organisation
- Professor Shubha Tole, neuroscientist and dean of graduate studies, Tata Institute of Fundamental Research, Mumbai, is president-elect of the International Brain Research Organisation (IBRO).
- She is the first scientist from a developing country to be elected to the highest position in IBRO.
- The current IBRO President, Professor Tracy Bale, welcomed the new officers, emphasizing the significance of Tole’s leadership in diversity and inclusion within the neuroscience community.
- Election Details: The IBRO Governing Council, consisting of representatives from 69 scientific societies across 57 countries, elected new officers during its annual assembly on October 6, 2024, in Chicago, USA.
- Professor Tole and other officers-elect will join the IBRO advisory board with “elect status” on January 1, 2025, and will officially assume their roles on January 1, 2026, serving until December 31, 2028.
- Upon completing her term, Tole will remain on the advisory board as former president for two years.
- Tole, currently serves as the dean of graduate studies at Mumbai’s premier scientific research institute – Tata Institute of Fundamental Research.
- Alongside Tole, Professor João Relvas (Secretary General-elect) from the University of Porto, Portugal, and Professor David Belin (Treasurer-elect) from the University of Cambridge, UK, were also elected.
- Tole has held significant roles, including President of the International Society for Developmental Neuroscience (ISDN) and has contributed to the IBRO Asia-Pacific Regional Committee and the Society for Neuroscience (SfN).
- She has chaired the Women in Science Committee of the Indian Academy of Sciences and is actively involved with the ALBA Network, promoting diversity in neuroscience.
About IBRO :
- Formation : 1961
- Headquarters : Paris, France
- IBRO is the global federation of neuroscience organizations that aims to promote and support neuroscience around the world through training, teaching, collaborative research, advocacy and outreach.
CURRENT AFFAIRS : ACQUISITIONS & MERGERS
Competition Commission of India Greenlights JM Financial Limited’s Purchase of 42.99% Stake in JM Financial Credit Solutions Limited
- The Competition Commission of India (CCI) approved two significant acquisitions:
- JM Financial Limited (JMFL) will acquire 42.99% of the total paid-up share capital of JM Financial Credit Solutions Limited (JMFCSL).
- JMFCSL will acquire 71.79% of the total paid-up share capital of JM Financial Asset Reconstruction Company Limited (JMFARC).
About JM Financial Limited (JMFL):
- JMFL serves as the operating cum holding company of the JM Financial Group.
- It provides integrated and diversified financial services through its operations and subsidiaries.
- The company is publicly listed on both BSE Limited and the National Stock Exchange of India Limited.
- Primary business activities include:
- Investment banking
- Private equity fund management
- Private wealth and portfolio management services
About JM Financial Credit Solutions Limited (JMFCSL):
- A subsidiary of JMFL, classified as a systemically important non-deposit taking Non-Banking Finance Company (NBFC).
- Registered with the Reserve Bank of India (RBI) and categorized as a middle layer NBFC.
- Operates as an investment and credit company.
About JM Financial Asset Reconstruction Company Limited (JMFARC):
- Another subsidiary of JMFL, functioning as an asset reconstruction company.
- Registered with the RBI under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
About CCI :
- Established : 14 October 2003
- Headquarters : New Delhi, India
- Chairman : Ravneet Kaur
- CCI is the chief national competition regulator in India.
- It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act, 2002.
CURRENT AFFAIRS : OBITUARIES
Justice KS Puttaswamy, key petitioner in landmark right to privacy case, passed away
- Former Karnataka High Court judge Justice K S Puttaswamy, who played a pivotal role in declaration of right to privacy as a fundamental right from the Supreme Court in 2017, passed away at his Bengaluru residence at the age of 98.
About K S Puttaswamy :
- Born on February 8, 1926, in Mysore, Karnataka.
- Studied at Maharaja’s College, Mysore, and obtained a law degree from Government Law College, Bengaluru.
- Enrolled as an advocate in January 1952; became a judge of the Karnataka High Court on November 28, 1977.
- Role in Right to Privacy Case:In 2012, Justice Puttaswamy filed a petition in the Supreme Court challenging the Aadhaar scheme under the Congress-led UPA government, arguing it violated citizens’ right to privacy.
- In 2015, the Supreme Court expanded the scope of the case to address whether the right to privacy is a fundamental right under the Indian Constitution.
- Landmark Supreme Court Verdict (2017):On August 24, 2017, a nine-judge Constitution Bench led by Chief Justice J.S. Khehar delivered a unanimous verdict declaring the right to privacy as a fundamental right under Article 21 of the Constitution (protection of life and personal liberty).
- The ruling recognized privacy as an essential aspect of personal liberty and autonomy, although the court upheld the Aadhaar scheme with conditions.
- Aadhaar Scheme:Justice Puttaswamy’s petition initially challenged the constitutional validity of the Aadhaar scheme for violating privacy rights.
- The scheme received legislative backing in 2016, and the verdict allowed Aadhaar under certain restrictions, balancing privacy rights and government welfare objectives.
- Legacy:Justice Puttaswamy’s case is considered a milestone in Indian constitutional law, affirming the right to privacy as an intrinsic part of the right to life and liberty.
- His contribution highlighted the importance of individual rights against surveillance and data collection by the state.
CURRENT AFFAIRS: SPORTS NEWS
Ravindra Jadeja Becomes India’s Fifth-Highest Wicket-Taker in Test Cricket
- Ravindra Jadeja has reached a major milestone in his Test cricket career, becoming India’s fifth-highest wicket-taker in the format.
- On the opening day of the third Test match against New Zealand in Mumbai, Jadeja overtook Ishant Sharma, who previously held the fifth spot with 311 wickets from 188 innings.
Milestone Achievement and Standing
- Fifth Position Secured: With this achievement, Jadeja now joins India’s elite group of top Test bowlers.
- All-Time Top Indian Wicket-Takers: Only four Indian bowlers remain ahead of him:
- Anil Kumble
- Ravichandran Ashwin
- Kapil Dev
- Harbhajan Singh
Jadeja’s Career and All-Round Contribution
- Consistency and Growth: Jadeja’s rise to this milestone is a testament to his reliability and skill as an all-rounder, demonstrating his value not just as a bowler but also as an exceptional fielder and batsman.
- Impact as a Frontline Bowler: Known for his partnership-breaking ability and skill in containing runs, Jadeja has played a pivotal role in India’s Test success, particularly on home pitches, where his spin has proven invaluable.
ICC Appoints Sumathi Dharmawardena as New Anti-Corruption Chair:
- The International Cricket Council (ICC) has appointed Sri Lankan legal expert Sumathi Dharmawardena as the new Independent Chair of its Anti-Corruption Unit (ACU), beginning November 1, 2024.
- Dharmawardena succeeds Sir Ronnie Flanagan, who held the role for 14 years, and brings extensive expertise from his work in sports corruption with Interpol and the United Nations Office on Drugs and Crime (UNODC).
Key Responsibilities of the ACU Chair
- As Independent Chair of the ACU, Dharmawardena will:
- Oversee anti-corruption strategies across international cricket to prevent match-fixing.
- Guide the General Manager of Integrity to execute daily anti-corruption tasks and policies.
- Enforce strict anti-corruption codes and oversee efforts to maintain the integrity of the sport.
Professional Background
- Dharmawardena’s Legal Experience:
- Former Additional Solicitor General in Sri Lanka with experience in high-profile sports-related investigations.
- Expertise in enforcing Sri Lanka’s Prevention of Offences Relating to the Sports Act.
- Previous collaborations with Interpol and UNODC strengthen his qualifications to lead anti-corruption initiatives in cricket.
Overview of the ICC
- ICC Headquarters: Located in Dubai, UAE.
- Key Leadership:
- Greg Barclay – Chairman
- Geoff Allardice – CEO
- Membership Structure:
- 108 total members:
- 12 Full Members: Test-playing nations.
- 96 Associate Members: Countries where cricket is established but do not have Test status.
- 108 total members:
ICC’s Core Responsibilities
The ICC’s main functions include:
- Organizing Major Tournaments: Such as the Cricket World Cup, T20 World Cup, and World Test Championship.
- Setting and Maintaining Standards: Establishing rules and regulations for cricket, often in collaboration with the Marylebone Cricket Club (MCC).
- Global Expansion Efforts: Promoting cricket in new regions like the USA and Europe.
- Promoting Fair Play: The ICC enforces a strict Code of Conduct for players and officials to ensure fair play and discipline.
Anti-Corruption Efforts and Structure of the ACU
The ICC Anti-Corruption Unit (ACU), established in 2000, focuses on:
- Monitoring betting activities and suspicious behaviors in cricket.
- Investigating and preventing match-fixing and enforcing anti-corruption policies.
- Educating players and officials on anti-corruption practices.
India Shines as Runner-Up at the Asian Arm Wrestling Cup 2024
- India showcased an impressive performance at the Asian Arm Wrestling Cup 2024, securing the runner-up position in the overall team standings held at the Aurika Skycity Hotel in Mumbai.
- The Indian team finished second in the medal tally, trailing only behind Kazakhstan, the top-ranking nation in the arm wrestling arena.
Overview of the Event
- Event: Asian Arm Wrestling Cup 2024
- Location: Aurika Skycity Hotel, Mumbai, Maharashtra
- Overall Performance: India emerged as the runner-up in team standings.
Performance Highlights
- India’s Standing: Runner-up in overall team standings.
- Medal Tally:
- Finished second overall, with Kazakhstan leading.
Participating Nations
- Total Nations: Nine countries competed.
- Categories: Six categories contested:
- Para
- Masters
- Sub-junior
- Junior
- Youth
- Seniors
- Weight Divisions: Various weight categories were included.
Notable Indian Winners
- Denic Lalruattluanga (Mizoram)
- Gold Medal: Men’s Seniors 80kg Right category.
- Match Journey:
- Lost the first match to Kazakh puller Islam Nurmanov.
- Defeated Nurmanov in the finals by identifying a weakness in his technique.
- Renowned as the ‘Strap Man’ for his specialized technique.
- Yogesh Chaudhary (Haryana)
- Gold Medals: Won in both the 80kg+ Left and Right categories in Women’s Seniors.
- Match Journey:
- Competed against Kazakh athlete Arailym Kulzhemiyeva.
- Secured victories in both hands.
India’s Total Medal Count
- Overall Medals: 223
- Gold: 63
- Silver: 100
- Bronze: 60
Organizational Achievements
- People’s Arm Wrestling Federation India (PAFI):
- Led by President Preeti Jhangiani.
- Successfully hosted the Asian Arm Wrestling Cup.
- Holds rights to the 2025 official Asian Arm Wrestling Championship.
PAFI’s Vision
- PAFI aims to position India as a global hub for arm wrestling events.
- Anticipates an increase in international arm wrestling events following the success of the Pro Panja League in 2023 and the recent cup.
AIFF Receives AFC President’s Recognition Award for Grassroots Football (Silver)
- The All India Football Federation (AIFF) was honoured with the AFC President’s Recognition Award for Grassroots Football (Silver) at the AFC Annual Awards held in Seoul, South Korea.
- This recognition marks a significant improvement from last year’s bronze award, highlighting AIFF’s progress in grassroots development, sustainability, and collaboration with stakeholders.
Long-Term Grassroots Commitment
- The AIFF has been commended for its sustainable grassroots programs that actively engage regional participation and foster partnerships with local organizations.
- Since last year, AIFF’s commitment has been recognized with a silver-level membership in the AFC Grassroots Charter, demonstrating alignment with global football standards and dedication to youth engagement.
Initiatives and Program Success
- AIFF President Kalyan Chaubey attributed the federation’s success to initiatives like the Khelo India program, which spans 90 cities and continues to inspire grassroots activities.
- The FIFA-AIFF Academy in Bhubaneswar, part of the FIFA Talent Development Scheme, supports talent cultivation under the mentorship of Arsène Wenger.
- AIFF’s involvement in AFC coaching education has enhanced the quality and reach of grassroots football initiatives nationwide.
The Blue Cubs Vision and Future Growth
- AIFF’s Blue Cubs initiative aims to engage 35 million children by 2026 through the establishment of development centers, hosting football festivals, and collaborating with Indian Super League clubs, local bodies, and NGOs.
- This robust vision seeks to promote football in schools and remote areas, emphasizing inclusivity and expanding age-group competitions across the continent. AIFF’s influence in both Indian and Asian football is set to grow significantly.
Key Functions of the AIFF
- Development of Football: Focused on grassroots development, promoting football from the youth level through various initiatives.
- Organizing Competitions: Responsible for national competitions, including the Indian Super League (ISL) and I-League, providing competitive platforms for players.
- National Teams: Oversees the Indian national football teams, including senior men’s and women’s teams and youth teams.
Recent Achievements
- AFC Awards: AIFF received the AFC President’s Recognition Award for Grassroots Football (Silver) in October 2024, reflecting its commitment to grassroots development.
- Khelo India Initiative: Active participation in the Khelo India program, promoting sports at the grassroots level nationwide.
- Blue Cubs Initiative: Aiming to engage 35 million children by 2026, expanding football’s reach through development centers and collaborations.
CURRENT AFFAIRS: IMPORTANT DAYS
World Vegan Day: 1st November
- World Vegan Day 2024 is observed on the 1st of November 2024.
- World Vegan Day 2024 is celebrated on 1st November as it falls between Halloween Day and Saint’s Day.
- For this reason, World Vegan Day is more special.
- The World Vegan Society was formed in 1944 by Louise Wallis.
- But the Name “Vegan” was first coined by Donald Watson and his wife Dorothy Morgan in the year 1944.
- The vegan society aims not only to keep the Vegan Society alive but also to promote Vegan diets all over the world.
- World Vegan Day 2024 is celebrated for the anniversary of the Vegan Society in 1944 and it attained its 50th anniversary in 1994.
Daily CA One- Liner: November 1 & 2
- Union Minister Piyush Goyal inaugurated the “One District One Product” (ODOP) Wall at the Indian Embassy in Riyadh during his two-day visit to Saudi Arabia
- Legendary filmmaker Francis Ford Coppola will be honoured with the AFI Life Achievement Award in its 50th year at a ceremony on April 26, 2025, at Hollywood’s Dolby Theatre.
- The Wagh Bakri Tea Group has been awarded the prestigious “Generational Legacy Award for Outstanding Contribution to the Indian Economy” by Hurun India.
- Indian Railways has renewed its Memorandum of Understanding (MoU) with Switzerland’s Federal Department of the Environment, Transport, Energy and Communications (DETEC).
- On Dhanteras (October 29, 2024), the Reserve Bank of India (RBI) transported an additional 102 tonnes of gold from the Bank of England to secure storage facilities within India.
- Mintoak and Axis Bank have partnered to promote financial inclusion and enhance digital payment adoption among small and medium-sized enterprises (SMEs) in the digital ecosystem.
- Bank of Baroda launched the bob Utsav Deposit Scheme, a special term deposit for a tenure of 400 days, applicable on deposits below ₹3 crore, effective from October 14, 2024.
- DBS Bank India has been awarded as one of the ‘Best Companies for Women in India’ (BCWI) 2024 for the ninth consecutive year.
- Professor Shubha Tole, neuroscientist and dean of graduate studies, Tata Institute of Fundamental Research, Mumbai, is president-elect of the International Brain Research Organisation (IBRO).
- The United States, Japan, and South Korea have launched the Digital Infrastructure Growth Initiative for India (DiGi Framework) to enhance collaboration with India’s private sector for supporting digital infrastructure.
- Aandhi is a small village in Jaipur district, approximately 43 km from Jaipur, Rajasthan.
- The Uniform Civil Code in Uttarakhand is expected to be implemented by November 9,2024 coinciding with the state’s 24th Foundation Day.
- The Competition Commission of India (CCI) approved two significant acquisitions:
- JM Financial Limited (JMFL) will acquire 42.99% of the total paid-up share capital of JM Financial Credit Solutions Limited (JMFCSL).
- JMFCSL will acquire 71.79% of the total paid-up share capital of JM Financial Asset Reconstruction Company Limited (JMFARC).
- Former Karnataka High Court judge Justice K S Puttaswamy, who played a pivotal role in declaration of right to privacy as a fundamental right from the Supreme Court in 2017, passed away at his Bengaluru residence at the age of 98.
- Ravindra Jadeja has reached a major milestone in his Test cricket career, becoming India’s fifth-highest wicket-taker in the format.
- The International Cricket Council (ICC) has appointed Sri Lankan legal expert Sumathi Dharmawardena as the new Independent Chair of its Anti-Corruption Unit (ACU), beginning November 1, 2024.
- India showcased an impressive performance at the Asian Arm Wrestling Cup 2024, securing the runner-up position in the overall team standings held at the Aurika Skycity Hotel in Mumbai.
- The All India Football Federation (AIFF) was honoured with the AFC President’s Recognition Award for Grassroots Football (Silver) at the AFC Annual Awards held in Seoul, South Korea.
- World Vegan Day 2024 is observed on the 1st of November 2024.
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