Daily Current Affairs November 07 2023 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

RBI imposes monetary penalty on PNB, Federal Bank, and 2 other entities

• The Reserve Bank of India (RBI) has imposed monetary penalties on several financial institutions, including Punjab National Bank, Federal Bank, Mercedes-Benz Financial Services India Private Ltd, and Kosamattam Finance Ltd, for non-compliance with specific regulatory norms.
• These penalties are aimed at enforcing regulatory compliance within the financial sector.

Penalty Amounts & Reasons :

• Punjab National Bank: Rs 72 lakh penalty for non-compliance related to ‘interest rate on advances’ and ‘customer service in banks.’
• Federal Bank: Rs 30 lakh penalty for contravention of certain provisions of Know Your Customer (KYC) norms.
• Mercedes-Benz Financial Services India Private Ltd: Rs 10 lakh penalty for non-compliance with KYC provisions.
• Kosamattam Finance Ltd: Rs 13.38 lakh penalty for non-compliance with provisions of ‘Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016.’
• Basis for Penalties: The penalties have been imposed due to deficiencies in regulatory compliance. It’s important to note that these penalties do not pass judgement on the validity of specific transactions or agreements entered into by these financial entities with their customers.
• Punishment for Non-Compliance: The RBI, as the regulatory authority, uses monetary penalties as a means to encourage financial institutions to adhere to established regulations and guidelines. Non-compliance with these norms can result in financial penalties, as seen in these cases.
• Focus on KYC and Customer Service: The penalties on Federal Bank and Mercedes-Benz Financial Services India Private Ltd are specifically related to Know Your Customer (KYC) norms, indicating the importance of robust KYC processes in the financial industry.
• Additionally, Punjab National Bank’s penalty relates to ‘interest rate on advances’ and ‘customer service,’ highlighting the significance of customer-centric banking services and adherence to interest rate regulations.

Which section of the RBI act deals with penalties?

• The penalties have been imposed in the exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949, taking into account the failure of the banks to adhere to the aforesaid directions issued by RBI.
• The penalty has been imposed in the exercise of powers conferred under clause (b) of sub-section (1) of section 58G read with clause (aa) of sub-section (5) of section 58B of the Reserve Bank of India Act, 1934, taking into account the failure of the company to adhere to the aforesaid directions issued by RBI.

About Federal Bank :

• Established : April 23, 1931
• Headquarters : Aluva, Kochi, Kerala, India
• MD & CEO : Shyam Srinivasan
• Tagline : Your Perfect Banking Partner

About Punjab National Bank :

• Founded : 19 May 1894
• Headquarters : New Delhi
• MD & CEO: Atul Kumar Goel

Reserve Bank of India’s Gold Reserves Reach 800 Tonnes

• The Reserve Bank of India’s (RBI) gold holdings, part of its foreign exchange reserves, have reached nearly 800 tonnes level.
• The milestone of 800 tonnes of gold holdings is significant as the first tranche of Sovereign Gold Bonds (SGBs) issued in 2015 is due for redemption in November.

Key Highlights :

• The RBI initiated the purchase of gold in 2018.
• Prior to that, it had acquired 200 tonnes of gold in 2009 during the global financial crisis.
• Since 2018, the RBI has added approximately 242 tonnes of gold to its reserves.
• As of August of the current year, the RBI has added 2 tonnes of gold to its reserves & this demonstrates a continued accumulation of gold.
• According to data from the World Gold Council (WGC), as of August, gold constituted 8.3% of India’s foreign exchange reserves, with a valuation of $45 billion.
• This indicates the role of gold as a significant component of India’s foreign exchange reserves.

What are Gold Reserves?

• Gold reserves are the physical gold assets held by a central bank or country as part of its foreign exchange reserves.
• Central banks may acquire gold reserves through various means, including purchases from other central banks, international organisations, or commercial banks, and from domestic production or importation.

What is SGB?

• The Government of India introduced the Sovereign Gold Bond (SGB) Scheme in November 2015 to offer an alternative investment to physical gold.
• SGBs were catered to individuals who were buying physical gold for investment purposes.

Eligibility Criteria :

• Persons resident in India as defined under the Foreign Exchange Management Act, 1999 are eligible to invest in SGB.
• Eligible investors include individuals, HUFs, trusts, universities and charitable institutions. Individual investors with subsequent change in residential status from resident to non-resident may continue to hold SGB till early redemption/maturity.

Rate of interest :

• The Bonds bear interest at the rate of 50% (fixed rate) per annum on the amount of initial investment.
• Interest will be credited semi-annually to the bank account of the investor and the last interest will be payable on maturity along with the principal.

Authorised Selling Agencies:

• SGBs are sold through various authorised channels, including nationalised banks, scheduled private banks, scheduled foreign banks, designated post offices, Stock Holding Corporation of India Ltd. (SHCIL), and authorised stock exchanges.

Accumulated Investment in SGBs:

• Since their launch, SGBs have collected as much as 120 tonnes of gold..

AU Small Finance Bank and ixigo Partner to Launch Premium Co-Branded Travel Credit Card Tailored for Modern Travellers

• AU Small Finance Bank (AU SFB), the largest small finance bank in India, has partnered with ixigo, one of the leading travel platforms, to introduce a premium co-branded credit card tailored for contemporary travellers.
• This collaboration leverages the financial acumen of AU SFB and ixigo’s extensive presence in Tier-2 and Tier-3 markets to provide customers with a seamless fusion of exclusive financial incentives and unmatched travel advantages.

About co-branded credit card :

• “The ixigo-AU co-branded credit card is designed to empower customers with a seamless, gratifying, and unforgettable travel journey across all travel sectors, including flights, trains, buses, and hotels.
• It is specifically crafted to meet the changing demands of contemporary travellers, who prioritise flexibility, convenience, and value.
• As part of the welcome bonus, customers will additionally earn 1000 reward points and receive ₹1000 worth of ixigo money with their first successful transaction within the initial 30 days of card issuance.

About AU Small Finance bank :

• Founded : 1996
• Headquarters : Jaipur, Rajasthan, India
• MD & CEO : Sanjay Agarwal

About ixigo :

• Founded : June 2007
• Headquarters : Gurgaon, Haryana, India
• Founders : Rajnish Kumar & Aloke Bajpai

HDFC ERGO General Insurance launches Optima Secure

• HDFC ERGO General Insurance has introduced Optima Secure, a health insurance plan that offers 4 times the coverage without any additional cost, aiming to redefine the value proposition of health insurance.

Key Highlights :

• Age Inclusivity: This insurance policy is available for individuals of all age groups.
• There is no upper age limit, meaning you can purchase it even after turning 65 years old, and the coverage does not expire based on age.
• Flexible Coverage Options: Both families and individuals have the flexibility to select coverage amounts ranging from ₹5 lakhs to ₹2 crore.
• This provides a wide range of options to cater to different insurance needs.
• Policy Duration: Optima Secure policyholders can choose the policy duration, which can be for 1, 2, or 3 years.
• This allows for greater customization and long-term coverage planning.
• Incremental Coverage Enhancement: One of the unique features of this policy is the incremental increase in coverage.
• After the first year, the coverage grows by 50%, and after the second year, it doubles, even if a claim has been made.
• This feature is designed to provide additional security and value to policyholders.

About HDFC ERGO General Insurance Company Limited :

• Headquarters: Mumbai, Maharashtra
• It is a 51:49 joint venture firm between HDFC and ERGO International AG, one of the insurance entities of the Munich Re Group in Germany operating in the insurance field under the BFSI sector.

Finance Minister Nirmala Sitharaman inaugurates State Bank of India’s branch in Trincomalee, Sri Lanka

• Finance Minister Smt Nirmala Sitharaman inaugurated a branch of the State Bank of India (SBI) in Trincomalee, Sri Lanka.
• The occasion was graced by the Governor of the Eastern Province of Sri Lanka Senthil Thondaman, High Commissioner of India to Sri Lanka Gopal Baglay, and SBI Chairman Dinesh Khara.

Key Highlights :

• Finance Minister Nirmala Sitharaman appreciated the commitment of the State Bank of India to its growth, both domestically and internationally.
• This is particularly significant in the context of the economic crisis in Sri Lanka.
• It was noted that the efforts of the State Bank of India played a crucial role in facilitating the smooth extension of a $1 billion Line of Credit from the Government of India to Sri Lanka.

About SBI :

• Established : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Dinesh Kumar Khara
• Tagline : The banker to every indian

CURRENT AFFAIRS: NATIONAL NEWS

Centre launches sale of ‘Bharat’ Atta at an MRP of ₹ 27.50/Kg

• The Union Minister for Consumer Affairs, Food and Public Distribution, Textiles and Commerce and Industry, Shri Piyush Goyal flagged off 100 mobile vans for sale of wheat flour (Atta) under ‘Bharat’ brand,from Kartavya Path, New Delhi.
• The atta will be available at an MRP not exceeding ₹ 27.50/Kg.
• This is the latest among a series of steps taken by the GoI for the welfare of ordinary consumers.
• The launch of retail sales of ‘Bharat’ brand Atta will increase supplies in the market at affordable rates, and will help in continued moderation of prices of this important food item.
• ‘Bharat’ Atta will be available at all physical and mobile outlets of Kendriya Bhandar, NAFED and NCCF will be expanded to other co-op/retail outlets.
• 5 LMT of wheat @ Rs.21.50/kg has been allocated for Semi-Government and cooperative organizations i.e. Kendriya Bhandar, NCCF and NAFED under Open Market Sale Scheme [OMSS (D)] for converting to atta and offer it for sale to the public under ‘Bharat Atta’ brand at an MRP not exceeding ₹ 27.50/Kg.

BACKGROUND:

• The Government of India has taken a series of steps to stabilize the prices of essential food grains while also ensuring fair price to the farmers.
• Bharat Dal (Chana dal) is already being sold by these 3 agencies @ Rs.60 per kg for 1kg pack and Rs.55 per kg for 30 kg pack from their physical and/or retail outlets, along with onions @ Rs.25 per kg. Now, with the launch of sale of ‘Bharat’ Atta, consumers can get Atta, dal as well as onions from these outlets at fair and affordable prices.
• Policy interventions of GoI aim to benefit farmers as well as consumers. For the farmers, GoI fixes MSP (Minimum Support Price) of foodgrains, pulses as well as coarse grains and millets. Nationwide procurement operations are undertaken to implement the PSS (Price Support Scheme) which ensures the benefit of MSP to farmers.
• In RMS 23-24, 262 LMT of wheat was procured from 21.29 lakh farmers at the declared MSP of Rs.2125 per quintal. The total value of procured wheat was Rs.55679.73 crores.
• In KMS 22-23, 569 LMT of rice was procured from 124.95 lakh farmers at the declared MSP of Rs. 2060 per quintal for Grade ‘A’ paddy.
• The total value of procured rice was Rs. 1,74,376.66 crores.

Key Highlights

• The government of India is closely monitoring the domestic retail prices of edible oils to ensure that the full benefits of decrease in international prices is passed on to the end consumers.
• The government has taken the following measures in order to control and ease the prices of edible oils in the domestic market: –
• The Basic Duty on Crude Palm Oil, Crude Soyabean Oil and Crude Sunflower Oil was reduced from 2.5% to Nil. Further, the Agri-cess on these Oils was brought down from 20% to 5%. This duty structure has been extended upto 31st March, 2024.
• The Basic Duty on Refined Soybean oil and Refined Sunflower Oil was reduced to 17.5% from 32.5% and the Basic Duty on Refined Palm Oils was reduced from 17.5% to 12.5% on 21.12.2021.
• This duty has been extended up to 31st March, 2024.
• In order to maintain availability, the Government has extended the free import of Refined Palm Oils till further orders.
• In the latest initiative taken by the Government, the import duty on Refined Sunflower Oil and Refined Soybean Oil has been reduced from 17.5% to 12.5% with effect from 15.06.2023.
• GoI stands committed to ensure the welfare of its farmers, PDS beneficiaries as well as ordinary consumers by ensuring minimum support prices for farmers, free rations (wheat, rice and coarse grains/millets) under PMGKAY for Antyodaya and Priority households and fair and affordable rates of wheat, atta, dal and onions/tomatoes as well as sugar and oil, for ordinary consumers.

About Public Distribution System (PDS)

• The Public Distribution System (PDS) evolved as a system of management of scarcity through distribution of foodgrains at affordable prices. Over the years, PDS has become an important part of the Government’s policy for management of food economy in the country.
• PDS is supplemental in nature and is not intended to make available the entire requirement of any of the commodities distributed under it to a household or a section of the society.
• PDS is operated under the joint responsibility of the Central and the State/UT Governments.
• The Central Government, through Food Corporation of India (FCI), has assumed the responsibility for procurement, storage, transportation and bulk allocation of food grains to the State Governments.
• The operational responsibility including allocation within State, identification of eligible families, issue of Ration Cards and supervision of the functioning of Fair Price Shops (FPSs) etc., rest with the State Governments.

Union Government bans Mahadev App and 21 other illegal betting platforms on ED’s request

• The Central Government has banned 22 illegal betting apps including controversial Mahadev Book.
• In an order issued, the Ministry of Electronics and Information Technology blocked 22 illegal betting apps and websites including Mahadev Book and Reddyannaprestopro.
• The Ministry took the step on the recommendation of the Enforcement Directorate (ED).
• The ED recommended to the Centre for restricting illegal betting app after investigation and subsequent raids on Mahadev Book in Chhattisgarh.
• The ED has arrested Bhim Singh Yadav, a Constable in Chhattisgarh Police and Asim Das on the charge of money laundering in the case.
• Earlier in the day, the Congress accused the Centre of using ED to target Chhattisgarh government in view of Assembly elections in the state.

MEITY launches pan-India startup initiative Launchpad for Tech-Entrepreneurs in New Delhi

• The Ministry of Electronics and Information Technology (MEITY) launched the pan-India startup initiative Launchpad for Tech-Entrepreneurs towards Accelerated Growth and Pioneering in New Delhi.
• The Ministry said the initiative aims to promote Investment, Mentorship, and Global Connect Initiative for accelerated growth of young entrepreneurs to initiate and scale their ventures.
• It added that budding startups will also get a three-month intensive training and funding up to one crore rupees.
• MEITY Secretary, S. Krishnan highlighted the changing landscape of enterprising in India.
• The nation is no longer a place for outsourcing but a startup hub with India now a world leader in Digital Public Infrastructure.
• The event is to promote entrepreneurship in tier two and tier three cities and greater participation from women and people from vulnerable communities.
• Software Technology Park of India STPI Director General Arvind Kumar talked about the importance of this initiative.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Global Solar Facility of the International Solar Alliance (ISA) to Receive $35 Million in Capital Contribution  

• The International Solar Alliance’s Global Solar Facility is set to receive a capital contribution of $35 million.
• India, as the host of the 6th assembly of the International Solar Alliance, will make a significant investment of $25 million as a capital contribution to the Global Solar Facility.
• Additionally, the International Solar Alliance itself will contribute $10 million to the Global Solar Facility.

About Global Solar Facility (GSF) :

• The GSF was approved by the ISA Assembly in 2022 with the aim of attracting private capital into various solar projects, including off-grid solar projects, rooftop solar projects, and productive use solar projects.
• The primary objective of the Global Solar Facility (GSF) is to boost solar investment in underserved and geographically challenging regions of Africa.
• The GSF is also planning to expand its reach to regions in Asia, Latin America, and the Middle East.
• The GSF plans to invest in innovative technologies to enhance solar energy efficiency.
• It also supports startups to accelerate the implementation of solar energy and explores emerging solar energy sectors.
• The GSF’s ambitious goal is to raise $100 million to expedite the transition to solar energy.
• The 6th assembly of the International Solar Alliance is scheduled to take place from October 30 to November 2, 2023.
• President of the ISA Assembly, RK Singh, inaugurated four solar Demonstration Projects completed under the ISA grant initiative.
• These demonstration Projects were inaugurated in Malawi, Fiji, Seychelles and
• India and France jointly launched the International Solar Alliance (ISA), an intergovernmental organisation on 30 November 2015 at COP21 in Paris, France.

CURRENT AFFAIRS : STATE NEWS

Skill India Collaborates with Coca-Cola India to Introduce Retailer Skill Development Program for Empowering Retailers in Odisha  

• The National Skill Development Corporation (NSDC), operating under the Ministry of Skill Development & Entrepreneurship (MSDE), has partnered with Coca-Cola India to launch the Super Power Retailer Program.
• Aim : To empower retailers in the states of Odisha and Uttar Pradesh under the Skill India Mission.
• The Super Power Retailer Program is initially being piloted in the state of Odisha, focusing on the retailer community in the region.
• The formal announcement of this partnership took place in the presence of Dharmendra Pradhan, Union Minister for Education and Skill Development & Entrepreneurship; Ved Mani Tiwari, Chief Operating Officer (COO) of NSDC; and Sanket Ray, President of Coca-Cola India & Southwest Asia.
• The program aims to provide industry-specific skills to retailers.
• These skills include customer management, inventory and stock management, and financial management.
• These skills are tailored to meet the professional needs of retailers.

About Coca-Cola India :

• Headquarters : Gurugram, Haryana
• Coca-Cola India is a subsidiary of The Coca-Cola Company and operates in India.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Government Extends Tenure of Bank of Maharashtra and Central Bank Managing Directors  

• The government has granted approval for the extension of the tenure of Managing Directors (MDs) of two public sector banks, the Bank of Maharashtra (BoM) and the Central Bank of India.
• The decision to extend the tenure of these MDs was made by the Appointments Committee of the Cabinet (ACC), which is responsible for such appointments and extensions in government organisations.

Extensions :

• The ACC has approved a 6-month extension for A S Rajeev, who serves as the Managing Director and Chief Executive Officer (MD and CEO) of Bank of Maharashtra (BoM).
• His extended term will continue until his superannuation.
• The ACC has also granted an extension for M V Rao, who holds the position of MD and CEO at Central Bank of India.
• His term has been extended until July 31, 2025.
• A S Rajeev was appointed as the MD and CEO of the Bank of Maharashtra in 2018, while M V Rao assumed the role of MD and CEO of Central Bank of India in 2021.

About BoM :

• Founded : 16 September 1935
• Headquarters : Pune, Maharashtra

About Central Bank of India :

• Founded : 21 December 1911
• Headquarters : Mumbai, Maharashtra

Swiss Watchmaker Rado Announces Bollywood Superstar Katrina Kaif as Brand Ambassador

• Rado, the iconic Swiss watchmaker renowned for its innovation in materials to create timeless designs, is delighted to announce Bollywood superstar Katrina Kaif as its Global Brand Ambassador.
• This exciting partnership reinforces Rado’s commitment to creating memories that last a lifetime.
• CEO of Rado : Adrian Bosshard

CURRENT AFFAIRS: MOUS AND AGREEMENT

APEDA inks MoU with Lulu Hypermarket for export promotion of Indian agri-products:

• To boost exports of agricultural products to the Gulf Cooperation Countries (GCCs), the Agricultural and Processed Food Products Export Development Authority (APEDA), Ministry of Commerce, Government of India, has signed a Memorandum of Understanding (MoU) with global retail major Lulu Hypermarket LLC.
• The MoU, which is aimed at promoting Brand India globally was signed between APEDA Chairman, Shri Abhishek Dev and Chairman-cum-Managing Director of LuLu Group, Mr Yusuf Ali MA at the World India Food (WIF).
• With the MoU, APEDA would promote Indian agricultural products, including Millets across the GCC as the LuLu Group International (LLC) has its presence across the GCC, Egypt, India and the Far East with 247 LuLu stores in operation and 24 shopping malls.
• The LuLu Group is the fastest growing retail chain in the Middle East and Asia.
• The MoU will also facilitate promotional activities for APEDA’s scheduled products with the LuLu Hyper market retail chain.
• As per the MoU document, Lulu Group will actively promote and showcase a wide range of products in APEDA basket of agricultural and processed food products in their retail outlets.
• A dedicated shelf space (special sections or aisles) will be allocated within LuLu Group’s stores to display APEDA’s products prominently and to enhance their visibility.

Key Highlights

• APEDA and LuLu Group will engage with consumers through interactive events, sampling/tasting campaigns, season specific campaigns for fruits and vegetables, new product launch and the promotion of products arising from Himalayan/North Eastern States, organic products, etc.
• APEDA also facilitated signing of MoUs of Arunachal Pradesh Marketing Board, Sher-e-Kashmir University of Agricultural Sciences & Technology, Jammu and Meghalaya Agricultural Marketing Board with Lulu group aimed at boosting exports potential from Himalayan and North Eastern states.
• The promotional activities will enable maximum dissemination of information and awareness about the benefits of ethnic, unique, and GI- tagged agri-products to the consumers in the destination country. Further feedback from consumers will be actively sought to improve product offerings.
• The MoU also stated that APEDA and LuLu Group would jointly work to explore opportunities to facilitate the export of agri products through its international network of stores, thereby expanding the global reach of Indian agricultural products and accessibility to consumers.
• Both APEDA and LuLu Group would jointly facilitate export-oriented promotional programmes such as Buyer-Seller meets (BSM), R-BSMs/B2B meetings, trade fairs/road shows in association with the Indian Missions abroad and concerned stakeholders.
• LuLu Group will provide its assistance in the labelling of products according to the requirements of different importing countries, the MoU paper said, adding that both the parties would mutually decide the commercial matters and applicable terms.

ABOUT APEDA

• The Agricultural and Processed Food Products Export Development Authority (APEDA) was established by the Government of India under the Agricultural and Processed Food Products Export Development Authority Act passed by the Parliament in December, 1985.
• The Act (2 of 1986) came into effect from 13th February, 1986 by a notification issued in the Gazette of India: Extraordinary: Part-II [Sec. 3(ii): 13.2.1986).
• The Authority replaced the Processed Food Export Promotion Council (PFEPC).

CURRENT AFFAIRS: RANKING AND INDEX

State Food Safety Index 2022- 2023 Announced

• The Food Safety and Standards Authority of India (FSSAI) released the State Food Safety Index (SFSI) for 2023.
• According to the index, 19 out of 20 big states’ scores registered a decline in 2023 as compared to 2019.
• Maharashtra, Bihar, Gujarat and Andhra Pradesh recorded a drop in their 2023 scores from 2019.
• In the last five years, the steepest fall was seen in Maharashtra. Its score has decreased to 45 in 2023 as compared to 74 in 2019.
• Bihar score has declined to 20.5 in 2023 as compared to 46 in 2019.
• Gujarat scored 48.5 in 2023 as compared to 73 in 2019.
• The average scores of all large states improved marginally to 56 points in 2020 from 52 points in 2019.
• The average score dropped to 51 points in 2021 and 2022.
• State Food Safety Index (SFSI) score is being given to states from 2019. It is given out of a total of 100 points that are calculated on the basis of five parameters with different weightage.
• ‘Human Resources and Institutional Data’, ‘Compliance’, ‘Food Testing Infrastructure’, ‘Training and Capacity Building’, and ‘Consumer Empowerment’ are the five parameters of the State Food Safety Index.
• The most decline has been observed in the ‘Food Testing Infrastructure’ parameter.
• The average score for all large states for this parameter has dropped 7 points out of 17 in 2023 from 13 points out of 20 in 2019.
• The ‘Compliance’ parameter has the highest weightage (28%) in the Index.
• The ‘Consumer Empowerment’ parameter has the second highest weightage (19 per cent) in 2023.
• The 2023 average compliance score for all large states was 11 points out of 28 in 2023.
• The 1st SFSI was released on 7th June, 2019 based on the information submitted by States/UTs.
• In the 2023 index, a new parameter called ‘Improvement in SFSI Rank’ was added, which assesses improvement in each state’s rank from the year before.

Ranking of the States and Union Territories in the 2022 -23 Report

• Among the large state category: Kerala is the top-ranking state followed by Punjab and Tamil Nadu.
• Among the small states category: Goa is the top-ranking state followed by Manipur, and Sikkim in the Small States category.
• Among the Union Territories category: Jammu and Kashmir, Chandigarh, and Delhi

CURRENT AFFAIRS: SPORTS NEWS

In Chess, R Vaishali and Vidit Gujrathi win FIDE Grand Swiss Women’s and Open titles in UK

• In Chess, R Vaishali drew her last-round game against Mongolia’s Batkhuyag Munguntuul to win FIDE Women’s Grand Swiss 2023 at the Isle of Man in UK.
• Vidit Gujrathi beat Alexandr Predke of Serbia to record his seventh victory in the event and take the top spot in open section.
• Both players also qualified for the prestigious Candidates tournament to be played in April next year in Canada.
• Both Vaishali and Vidit ended with identical 8.5 points apiece and stayed a half point clear of nearest rivals.
• While Vaishali got richer by over 20 lakh rupees, Vidit took home a whopping prize purse of over 66 lakh rupees.

Highlights

• Vaishali became the first Indian to win the Grand Swiss and will have her task cut out in the Candidates alongside India’s first woman Grandmaster – Koneru Humpy.
• Humpy is likely to qualify by virtue of her high rating but the decision will be known only in January 2024.

In Hockey, India lifts Women’s Asian Champions Trophy title after thumping win over Japan in Ranchi

• In Hockey, the Indian women’s team dethroned Japan to crown themselves Asian Champions Trophy winners.
• The hosts beat Japan 4-0 in the final in Ranchi.
• India overcame the two-time champions through goals from Sangita Kumari, Neha, Laremsiami and Vandana Katariya.
• India won their maiden Asian Champions Trophy title in 2016 in Singapore, while Japan bagged the crown twice, in 2013 and 2021.
• Earlier in the day, Asian Games champions China beat South Korea 2-1 to secure the third place.
• Yi Chen and Tiantian Luo scored for the winners while Sujin An found the target for Korea.
• In recognition of their exceptional performance, marked by an undefeated streak throughout the tournament and their title victory, Hockey India announced 3 lakh rupees to each player, and 1.50 lakh rupees each for support staff.
• Jharkhand’s Salima Tete was announced the Player of the Tournament.

CURRENT AFFAIRS : OBITUARIES

Renowned Indian Poet Gieve Patel Passed away                        

• Renowned playwright, poet, painter, and thinker Gieve Patel passed away at the age of 83 in Pune, Maharashtra.

About Gieve Patel :

• Patel was born on 18 August 1940 in Bombay (now Mumbai),
• He belonged to a group of writers who had subscribed themselves to the Green Movement which was involved in an effort to protect the environment.
• His poems speak of deep concern for nature and expose man’s cruelty to it. His notable poems include, How Do You Withstand (1966), Body (1976), Mirrored Mirroring (1991) and On Killing a tree.
• He also wrote three plays, titled Princes (1971), Savaksa (1982) and Mr. Behram (1987)

CURRENT AFFAIRS: IMPORTANT DAYS

Infant Protection Day: 7th November

• Infant Protection Day 2023 is observed on the 7th of November 2023.

Infant Protection Day History

• Infant protection is a very important task.
• The first three months are the crucial period for Infants. It develops certain skills like Hearing, Communication, and Vision.
• So it is important to protect them from Air-borne Infections. Continuous Mother feeding and a healthy environment are essential for their Immune System Development which protects them from Infectious diseases.
• Infants should be vaccinated as per the Vaccination Chart to prevent them from deadly infectious diseases. In 1990 nearly 5 million infants died due to a lack of awareness of protecting Infants.
• So in the early 1900s, many Countries decided that steps should be taken for better child health care and to reduce the Infant Mortality Rate (IMR).
• Europe first started a campaign to improve child health care. Europe Countries established Infant Protection Day in order to create awareness among the people about Child Care Services and to reduce the Infant Mortality Rate (IMR).
• The Infant Mortality Rate has decreased from 100 to 10 deaths per 1000 births because of the awareness created by this day.
• Later America joined in this and started to celebrate Infant Protection Day to create awareness among the People.

National Cancer Awareness Day: 7th November

• National Cancer Awareness Day 2023 is observed on the 7th of November 2023.

National Cancer Awareness Day History

• The National Cancer Awareness Day celebration was first announced by Dr.Harsh Vardhan, the Indian Union Minister for Health and Family Welfare in September 2014.
• A committee was formed in September 2014 and decided National Cancer Awareness Day will be celebrated on 7th November every year.
• National Cancer Awareness Day is celebrated every year to create awareness about the early detection of cancer and prevention methods.
• 90 percent of the cancer is curable if it is detected earlier. So early detection is very important.
• Harsha launched a state-level cancer control process that encourages early detection and research to find a cancer cure.
• In 1975 National Cancer Control Programme was started to arrange treatment facilities for cancer.
• In 1984-85 some changes were made in the National Cancer Control Programme to make the Cancer treatment process more efficient and available to all.

Daily CA One- Liner: November 7

• The Reserve Bank of India (RBI) has imposed monetary penalties on several financial institutions, including Punjab National Bank, Federal Bank, Mercedes-Benz Financial Services India Private Ltd, and Kosamattam Finance Ltd, for non-compliance with specific regulatory norms.
• The Reserve Bank of India’s (RBI) gold holdings, part of its foreign exchange reserves, has reached near 800 tonnes level.
• AU Small Finance Bank (AU SFB), the largest small finance bank in India, has partnered with ixigo, one of the leading travel platforms, to introduce a premium co-branded credit card tailored for contemporary travellers.
• HDFC ERGO General Insurance has introduced Optima Secure, a health insurance plan that offers 4 times the coverage without any additional cost, aiming to redefine the value proposition of health insurance.
• Finance Minister Smt Nirmala Sitharaman inaugurated a branch of the State Bank of India (SBI) in Trincomalee, Sri Lanka.
• The Union Minister for Consumer Affairs, Food and Public Distribution, Textiles and Commerce and Industry, Shri Piyush Goyal flagged off 100 mobile vans for the sale of wheat flour (Atta) under ‘Bharat’ brand, from Kartavya Path, New Delhi.
• The Central Government has banned 22 illegal betting apps including the controversial Mahadev Book.
• The Ministry of Electronics and Information Technology (MEITY) launched the pan-India startup initiative Launchpad for Tech-Entrepreneurs towards Accelerated Growth and Pioneering in New Delhi.
• To boost exports of agricultural products to the Gulf Cooperation Countries (GCCs), the Agricultural and Processed Food Products Export Development Authority (APEDA), Ministry of Commerce, Government of India, has signed a Memorandum of Understanding (MoU) with global retail major Lulu Hypermarket LLC.
• The Food Safety and Standards Authority of India (FSSAI) released the State Food Safety Index (SFSI) for 2023
• The International Solar Alliance’s Global Solar Facility is set to receive a capital contribution of $35 million.
• The National Skill Development Corporation (NSDC), operating under the Ministry of Skill Development & Entrepreneurship (MSDE), has partnered with Coca-Cola India to launch the Super Power Retailer Program.
• The government has granted approval for the extension of the tenure of Managing Directors (MDs) of two public sector banks, the Bank of Maharashtra (BoM) and the Central Bank of India.
• Rado, the iconic Swiss watchmaker renowned for its innovation in materials to create timeless designs, is delighted to announce Bollywood superstar Katrina Kaif as its Global Brand Ambassador.
• Renowned playwright, poet, painter, and thinker Gieve Patel passed away at the age of 83 in Pune, Maharashtra.
• In Chess, R Vaishali drew her last-round game against Mongolia’s Batkhuyag Munguntuul to win FIDE Women’s Grand Swiss 2023 at the Isle of Man in the UK.
• In Hockey, the Indian women’s team dethroned Japan to crown themselves Asian Champions Trophy winners.
• Infant Protection Day 2023 is observed on the 7th of November 2023.
• National Cancer Awareness Day 2023 is observed on the 7th of November 2023.

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