Daily Current Affairs November 23 2023 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

IDBI Bank Enlists EY to Identify Buyers for Rs 4000 Crore Debt              

• IDBI Bank has appointed EY India as the process adviser to facilitate the sale of its ₹4,000 crore distressed debt portfolio under the Stressed Assets Stabilisation Fund (SASF).
• The bank has set a timeline of six and a half months for EY to complete the sale of the distressed debt portfolio.

Background on SASF :

• SASF, a special-purpose vehicle, was established two decades ago following the merger of term-lending institution IDBI Ltd with its subsidiary IDBI Bank to form a commercial bank.

Key Highlights :

• Loan Transfer to IDBI Trust : In 2004, the government permitted IDBI to transfer its distressed loans to IDBI Trust, managing ₹9,000 crore of distressed loans acquired under SASF from IDBI.
• Trust’s Loan Recovery and Wind Down : While the trust successfully recovered most of the loans, the remaining balance is now being sold.
• The fund is undergoing winding down as it completes its 20-year life cycle.
• Legal Adviser and Stake Sale : Cyril Amarchand Mangaldas is serving as the legal adviser to EY in this distressed asset portfolio sale.
• The distressed asset portfolio sale comes around the time when the promoters of the bank are preparing to sell a part of their stake.
• Life Insurance Corporation holds 49.2% of the bank, while the government owns 45%.
• Together, they plan to offload a 60.7% stake.
• Leadership in SASF Trust : CS Setty, managing director of State Bank of India, serves as the chairman of SASF Trust.
• Sunil Mehta, CEO of the Indian Banks Association, is a trustee, and two deputy managing directors, Suresh Khatanhar and Jayakumar Pillai, also serve as trustees.

About IDBI Bank :

• Founded : 1 July 1964
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Rakesh Sharma

Madhya Pradesh Records the Lowest Daily Wages for Rural Agricultural Workers – RBI Data Compilation

• According to the data compiled by Reserve bank of India (RBI), the daily wages of rural agricultural workers in Madhya Pradesh are the lowest in the country.

Key Highlights :

• Comparison of Male Agricultural Worker Wages : As per the data the daily wage of male agricultural workers in rural areas in MP is just Rs 229.2 in the year ended March 2023.
• The daily wage of male agricultural workers in rural areas in Gujarat is Rs 241.9 in the year ended March 2023.
• National Average and State Disparities : The national average daily wage for agricultural workers is Rs 345.7.
• Kerala pays the highest at Rs 764.3, while Uttar Pradesh and Maharashtra pay Rs 309.3 and Rs 303.5, respectively.
• The high wages in Kerala attract farm workers from other poorly paid states.
• Average wages of farm workers in Jammu and Kashmir, Himachal Pradesh and Tamil Nadu are Rs 550.4, Rs 473.3 and Rs 470 per person, respectively.
• Wages for Non-Agricultural Workers : As per RBI data, in case of male non-agricultural workers, the lowest wage was in MP (Rs 246.3).
• In Gujarat, male non-agricultural workers received a daily wage of Rs 273.1.
• The national average in case of male non-agricultural workers was Rs 348.
• Kerala again leads in non-agricultural workers’ daily wages with Rs 696.6 per person.
• It was followed by J&K (Rs 517.9), Tamil Nadu (Rs 481.5) and Haryana (Rs 451) for the year ended March 2023.
• In the case of rural male construction workers, Gujarat (Rs 323.2) and Madhya Pradesh (Rs 278.7) were below the national average of Rs 393.3.

ADB and GEF Collaborate to Launch Asia and the Pacific Natural Capital Fund                               

• The Asian Development Bank (ADB) and the Global Environment Facility (GEF) have announced the establishment of the Natural Capital Fund (NCF), which is a concessional fund designed to support projects that enhance food security while also protecting and restoring natural capital in ADB’s developing member countries (DMCs).
• GEF is supporting the NCF with an investment of $15 million.
• The announcement was made at the Asia-Pacific Natural Capital Forum held on 7­–9 November 2023, co-hosted by ADB and Stanford University’s Natural Capital Project.
• ADB and Stanford University have been collaborating on introducing natural capital accounting and gross ecosystem product (GEP) in DMCs.
• The forum discussed, among others, the nature financing gap and noted ADB’s broader initiative, Nature Solutions Finance Hub, which aims to develop financing models for nature-based solutions by proactively developing scalable and bankable demonstration projects centred around innovative finance approaches.

About ADB : 

• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa
• Membership : 68 members, including 49 regional members (countries in Asia and the Pacific) and 19 non-regional members (countries outside the region)

About GEF :

• CEO : Carlos Manuel Rodriguez
• The Global Environment Facility is a multilateral environmental fund that provides grants and blended finance for projects related to biodiversity, climate change, international waters, land degradation.

State Bank of India (SBI) Unveils the Financial Results for July-September Quarter                             

• India’s largest commercial bank, State Bank of India (SBI) released its July-September quarter results.
• Net Profit: SBI recorded an 8% year-on-year increase in net profit, rising from ₹13,264.5 crore in Q2FY23 to ₹14,330 crore.
• Net Interest Income (NII): The bank’s NII witnessed a substantial growth of 12.3% compared to the same period last year, reaching ₹39,500 crore.
• Additionally, there was a 21.6% growth in other sources of income, bringing it to ₹10,790 crore.
• Gross Non-Performing Assets (GNPA): SBI’s GNPA showed improvement, declining by 97 basis points year-on-year to 2.55%.
• Net Non-Performing Assets (NNPA): The Net NPA improved by 16 basis points to 0.64%.

Key Highlights :

• During the quarter ending September 2023, the Provision Coverage Ratio (PCR) stood at 75.45%, down 248 bps YoY.
• Slippage Ratio for Q2FY24 increased by 13 bps YoY and stood at 0.46% while for H1 it improved by 16 bps YoY and stood at 0.70%.
• Credit cost of SBI improved by 6 bps YoY to 0.22% during the period under review.
• The Capital Adequacy Ratio (CAR) at the end of Q2FY24 improved by 77 bps YoY and stood at 14.28%.
• During the quarter ending September 2023, the credit growth of the State Bank of India jumped 12.39% YoY, while the domestic advances grew 13.21% YoY.
• Good growth in SME Advances (22.75%) and Retail Personal Advances (15.68%) pushed the growth of domestic advances.

About SBI :

• Established : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Dinesh Kumar Khara
• CFO : Kameshwar Rao Kodavanti
• SBI is an Indian multinational public sector bank and financial services statutory body.
• The Union government holds 57.5 percent stake in the country’s largest lender State Bank of India (SBI).
• This is the lowest stake the government holds in any PSU banks.

Federal Bank Enters Exclusive Collaboration with Shuttler H S Prannoy                                 

• Federal Bank collaborated with India’s Top Seeded Shuttler, H.S. Prannoy.
• S. Prannoy is currently world number 8 and a recipient of the men’s singles bronze medal in the recent Asian Games.
• S. Prannoy’s bronze medal at the Asian Games is significant, marking the first time in 41 years since Syed Modi won a bronze in men’s singles at the Asian Games.
• Within the framework of this annual partnership, Federal Bank will assume the role of Prannoy’s exclusive banking partner.
• As a visible symbol of this alliance, Prannoy will proudly display the Federal Bank logo during his participation in prestigious Badminton World Federation (BWF) events.

About Federal Bank :

• Headquarters : Aluva, Kochi, Kerala, India
• MD & CEO :Shyam Srinivasan
• Tagline : your perfect banking partner.

CURRENT AFFAIRS: NATIONAL NEWS

CCRAS launches Ayurveda Gyan Naipunya Initiative for physicians practising in Ayurveda

• The Central Council for Research in Ayurveda Sciences (CCRAS) under the Ministry of Ayush launched the Ayurveda Gyan Naipunya Initiative (AGNI) for physicians practising in the field of Ayurveda in New Delhi.
• The initiative aims to promote research for mainstreaming pragmatic Ayurveda practices through scientific validation and evidence-based appraisal.
• The Ministry of Ayush, that interested Ayurveda Practitioners can email their interest to ccrasagni@gmail.com till 15th December.
• Addressing the event, the Director General of CCRAS Prof Rabinarayanan Acharya said that this initiative will provide a platform for Ayurveda practitioners to report their innovative practices and experiences in various disease conditions.
• The initiative also aims to undertake research for mainstreaming pragmatic practices through scientific validation and evidence-based appraisal.

HP, Dell and Lenovo among 27 firms granted approval to manufacture tech hardware in India under the incentive scheme

• The Indian government has approved investments by 27 companies including Dell, HP and Foxconn under its $2 billion incentive scheme to manufacture IT hardware domestically.
• Information technology minister Ashwini Vaishnaw said the companies are expected to invest 30 billion Indian rupees ($360 million) collectively while creating 50,000 jobs in the sector.
• Union Cabinet led by Prime Minister Shri Narendra Modi had approved PLI Scheme – 2.0 for IT hardware.
• This scheme covers laptops, tablets, all-in-one PCs, Servers and Ultra Small Form Factor devices
• Approvals have also been granted to domestic manufacturers including Dixon Technologies and VVDN.
• The scheme is key to India’s ambitions to become a powerhouse in the global electronics supply chain, with the country targeting an annual output worth $300 billion by 2026.
• The PLI Scheme for IT Hardware, introduced by Prime Minister Narendra Modi and notified on May 29, 2023, with a budgetary outlay of ₹17,000 crores, aims to enhance the IT hardware manufacturing ecosystem in the country.

World Coal Association rebrands as FutureCoal, seeks tech intervention for reliable, affordable energy

• Thirty-eight years into existence, the World Coal Association (WCA) has renamed itself FutureCoal- The Global Alliance for Sustainable Coal as part of its transformative branding.
• FutureCoal Global Alliance describes itself as the world’s only multi-lateral, neutral and progressive organisation representing the entire coal value chain which is dedicated to raising awareness of the significant total contribution of coal.
• Unveiling the new brand logo and identity at a press conference in New Delhi, FutureCoal’s Chief Executive Officer Michelle Manook said that the change responded to a call from coal and allied sectors to modernise and unite under a common purpose.
• FutureCoal Global Alliance describes itself as the world’s only multi-lateral, neutral and progressive organisation representing the entire coal value chain which is dedicated to raising awareness of the significant total contribution of coal.
• Unveiling the new brand logo and identity at a press conference in New Delhi, FutureCoal’s Chief Executive Officer Michelle Manook said that the change responded to a call from coal and allied sectors to modernise and unite under a common purpose.
• SCS will have three components – pre-combustion which includes abatement opportunities such as the adoption of efficient mining process, digitalisation, and waste management among others.

About The World Coal Association

• The World Coal Association is an international non-profit, non-governmental association based in London, United Kingdom. It was created to represent the global coal industry.
• The association was formerly called the World Coal Institute but changed its name in November 2010.
• FutureCoal CEO – Michelle Manook

Union Government Will Announce a New Policy For Foreign Production Houses

• The Union Minister of Information and Broadcasting Anurag, the International Film Festival of India (IFFI) in Goa on that the government is going to announce a new filmmaking policy.
• Union Minister for Information & Broadcasting and Youth Affairs & Sports Shri Anurag Singh Thakur said that India will increase the incentive for foreign film production in the country to 40 % of the expenses incurred with an increased cap limit of Rs.30 crore (exceeding 3.5 million US Dollars).
• Earlier, the per project cap for the incentives only Rs 2.5 Crore.
• An additio nal 5% percent bonus for Significant Indian Content (SIC), in his inaugural address at the 54th International Film Festival of India at Panaji, Goa.
• Further, in a glorious tribute to the legendary actress Madhuri Dixit, the 54th International Film Festival of India honoured her with ‘Special Recognition for Contribution to Bharatiya Cinema’ Award.

KeY Highlights

• The Union Minister also announced a recruitment drive for the young minds who were selected in the ’75 Creative Minds of Tomorrow,’ opening up doors to limitless opportunities for their blossoming talents and career trajectories.
• The ’75 Creative Minds of Tomorrow,’ now in its 3rd edition, was born in 2021 from the Prime Minister’s vision to provide the youth with a platform to showcase their creative expression through the medium of cinema.
• The Minister also announced a new category of awards – Best Web Series (OTT) Category – being introduced in this edition of IFFI.
• Shri Anurag Singh Thakur congratulated Hollywood Actor/Producer Michael Douglas for having been conferred with the prestigious Satyajit Ray Lifetime Achievement Award for 2023. He also extended heartfelt gratitude to the esteemed Jury of the International Competition, the Indian Panorama, the Best Web Series (OTT), and the 75 Creative Minds of Tomorrow.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Marie Sklodowska-Curie Stamps & First Day Envelopes Released                        

• For the first time in over two decades, the United Nations and the International Atomic Energy Agency (IAEA) are collaborating on a new collection coming to the stamp counter.
• The United Nations Postal Administration will issue a definitive set of Marie Sklodowska-Curie stamps and first-day envelopes adorned with a new IAEA distinctive cachet on 7 November 2023.
• The collection commemorates the anniversary of Marie Sklodowska-Curie’s birth and recognizes her significant contributions to nuclear science.

Key Highlights :

• Sklodowska-Curie set a ground breaking precedent for women during a time when they were heavily marginalised in the scientific community by becoming the first woman ever to win a Nobel Prize and the first individual to claim this prestigious honour twice.
• To this day, she is also the only person ever to receive two Nobel Prizes in different fields of science, one in physics in 1903 and one in chemistry in 1911.
• The special envelope also pays tribute to the Marie Sklodowska-Curie Fellowship Programme (MSCFP), which upholds the IAEA’s commitment to promoting diversity and empowering women in nuclear science by aiming to increase the number of women in the field.
• The IAEA also supports young women’s career development in the nuclear sector, via a programme honouring Austrian-Swedish physicist, Lise Meitner, who coincidentally shares the same birthday as Sklodowska-Curie.
• On the occasion of the birthdays of these two great scientists, IAEA Director General Rafael Mariano Grossi announced an event commemorating International Women’s Day on 8 March 2024.

About IAEA :

• Founded: 29 July 1957
• Headquarters: Vienna, Austria
• Director General : Rafael Mariano Grossi.
• The International Atomic Energy Agency is an intergovernmental organization that seeks to promote the peaceful use of nuclear energy and to inhibit its use for any military purpose, including nuclear weapons.

CURRENT AFFAIRS : STATE NEWS

Uttarakhand Tourism Development Board Launches Inaugural Tehri Acro Festival                                      

• In a bid to catapult Tehri onto the global tourism stage, the Uttarakhand Tourism Development Board (UTDB) announced the maiden edition of Tehri Acro Festival, slated from November 24 to 28, 2023.
• Tehri Acro Festival is billed as India’s premier International Aerial Acrobatic Show, set to feature over 150 paragliders, including 35 international athletes, making it a prominent event in the field of paragliding.

About the Festival :

• The festival will showcase an array of aerial acrobatics.
• Three competitive events will be held during the festival, marking Tehri’s entry into the world of paragliding.
• Tehri, positioned at an elevation of approximately 1400 metres, boasts take-off points at Pratap Nagar, standing as the world’s second-highest. It is rivalled only by Turkey’s OluDeniz.

About Uttarakhand:

• Capital: Dehradun
• Chief Minister: Pushkar Singh Dhami
• Governor: Gurmit Singh
• National Parks: Govind National Park, Nanda Devi National Park, Gangotri National Park, Rajaji National Park, Jim Corbett National Park

Kerala State Authorities Undertake Initiatives to Expand Cultivation of GI-Tagged Onattukara Sesame                       

• Kerala state authorities are actively working to expand the cultivation of Geographical Indication (GI)-tagged Onattukara sesame.
• Mavelikara Thekkekara grama panchayat president K. Mohankumar announced a financial assistance program providing ₹40 for a cent of land to farmers cultivating sesame.
• The cultivation project is a collaborative effort involving various entities, including the local Krishi Bhavan, Onattukara Vikasana Agency (OVA), Onattukara Regional Agricultural Research Station (ORARS), Krishi Vigyan Kendra, Kayamkulam, and Mavelikara Thekkekara panchayat.

About Onattukara Sesame :

• It is cultivated in the state of Kerala.
• Onattukara Ellu and its oil are famous for their unique health benefits.
• The relatively higher antioxidant content in Onattukara Ellu helps fight free radicals, which destroy body cells.
• Its high content of unsaturated fat makes it beneficial for heart patients.
• This sesame grown in the region contains high levels of Vitamin E and antioxidants.
• It also contains oleic acid, linoleic acid, palmitoleic acid, and so on, which help maintain good health.

About GI Tag :

• A GI, a kind of Intellectual Property Rights (IPR), is primarily an agricultural, natural or manufactured product (handicraft and industrial goods) originating from a definite geographical territory.
• A GI is a label that is applied to products that have a specific geographical origin and that have characteristics related to a particular location.
• The tag is valid for a period of 10 years after which it is renewed.
• The Geographical Indications of Goods (Registration and Protection) Act, 1999 seeks to provide for the registration and better protection of geographical indications relating to goods in India

About Kerala:

• Capital: Thiruvananthapuram
• Chief Minister: Pinarayi Vijayan
• Governor: Arif Mohammad Khan
• National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park, Silent Valley National Park, Indira Gandhi National Park

CURRENT AFFAIRS: AWARDS AND HONOURS

Tamil writer Perumal Murugan wins 2023 JCB Literary Prize for Fire Bird

• The 2023 JCB Literary Prize was given to Tamil writer Perumal Murugan for Fire Bird.
• The winner was announced in New Delhi on 18 November.
• The novel ‘Fire Bird’ was translated into English by Janani Kannan.
• Penguin Random House India published the novel ‘Fire Bird’.
• Although Murugan and Kannan were present at the awards ceremony, publisher and writer Manasi Subramaniam received the award on their behalf.
• The award was announced virtually by Lord Bamford, Chairman, JCB Group and personally presented by Deepak Shetty, CEO and Managing Director, JCB India Limited.
• The JCB Literary Award awards Rs 25 lakh to the author and an additional Rs 10 lakh to the translator.

CURRENT AFFAIRS: MOUS AND AGREEMENT

MoU signed between Inland Waterways Authority of India and Amazon

• Sarbananda Sonowal memorandum of understanding (MoU) was signed between the Inland Waterways Authority of India (IWAI) and Amazon Seller Services Private Limited (Amazon) in New Delhi.
• The MoU aims to promote cargo movem ent and transportation of customer shipments and products via inland waterways using the river Ganga (National Waterway
• The maiden ship with e-commerce cargo will be flagged off from Patna to Kolkata soon.
• Minister of Ports, Shipping and Waterways Sarbananda Sonowal, the MoU marks another important leaf in the growth story of India’s waterways.
• This partnership would be an important step towards enhancing the movement of e-commerce cargo through our Inland Waterways.
• The Ministry said that with the beginning of this service, the artisans, entrepreneurs and traders of India’s hinterland will find an opportunity to sell their products in the wider market, both nationally and internationally, reasonably, easily at an affordable cost via an efficient mode of transportation.
• The Ministry further added that Amazon will be able to utilize all possible modes of transport in the country to ensure faster, cost-effective, sustainable, and more reliable delivery of customer packages and provide a wider reach to its millions of sellers.
• This partnership will not only benefit Amazon by lowering their transportation cost but also open up new possibilities for all e-commerce companies to leverage the extensive inland waterways in India.

WHO & Ayush Ministry project collaboration to boost medical tourism

• Traditional and Complementary Medicine ‘Project Collaboration Agreement’ has been signed by the Ministry of Ayush and the World Health Organization (WHO).
• This agreement aims to standardize Traditional and Complementary Medical Systems, integrate their quality and safety aspects into the National Health System, and disseminate them at the international level.

KeY Highlights

• The objective of this cooperation agreement is also to connect Traditional and Complementary Medical Systems with the mainstream of the National Health System.
• To fulfill this objective, WHO will prepare Traditional Medicine Global Strategy 2025-34 with the support of the Ministry of Ayush.
• In collaboration with WHO, the Ministry of Ayush will develop an International Herbal Pharmacopoeia of herbs found in South-East Asia.
• The first phase of this agreement, 2023-28, will prove to be a milestone in the global development of Traditional and Complementary Medical Systems.
• Ministry of Ayush has already signed two ‘Project Collaboration Agreements’ with WHO.
• The first agreement was signed in 2016 to take Traditional Medical systems like Yoga, Ayurveda, Unani, and Panchakarma to the global level.
• The second contract was signed in 2017 to strengthen the system of Ayurveda, Unani and Siddha.

CURRENT AFFAIRS: RANKING AND REPORTS

WHO declares loneliness as a pressing global health threat

• The World Health Organization (WHO) has declared loneliness a pressing global health threat.
• An international commission on this problem has also been launched by WHO under the leadership of US Surgeon General Dr. Vivek Murthy.
• The commission will run for three years.
• The new Commission on Social Connectivity aims to address loneliness as a serious health threat, promote social connection as a priority, and accelerate the scale-up of solutions across all income countries.
• The death effect of loneliness is equivalent to smoking 15 cigarettes a day.
• The rate of ‘one in four’ older people experiencing social isolation is similar in all regions of the world.
• This comes as the COVID-19 pandemic halted economic and social activity, increasing loneliness levels, but also amid growing awareness of the importance of the issue.
• According to WHO, loneliness increases the risk of developing dementia by 50% and the risk of coronary artery disease or stroke by 30% in adults.
• Additionally, according to research findings, 5% to 15% of teens are lonely.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Government Appoints Vinay Tonse as Managing Director of SBI for a 2-Year Term                                 

• The Appointments Committee of the Cabinet (ACC), headed by Prime Minister Narendra Modi, appointed deputy managing director Vinay Tonse as one of State Bank of India’s (SBI) managing directors for 2 years till November 30, 2025.
• The post fell vacant after Swaminathan Janakiraman was appointed as the Deputy Governor of the Reserve Bank of India.

About Vinay Tonse :

• He joined the State Bank of India as a Probationary Officer in 1988.
• Throughout his tenure, Tonse has worked at different locations in India, as well as abroad.
• In his career spanning more than 30 years, Tonse has led major assignments and projects of the State Bank of India.
• His career involves experience in different facets of commercial banking like corporate credit, treasury, retail, and international banking.
• Before the appointment, Tonse was serving as the Deputy Managing Director at the PSU bank.
• The Deputy Manager of the state-owned bank was recommended b y the Financial Services Institutions Bureau (FSIB) for the senior post at SBI in September, 2023.
• The State Bank of India is operated by four managing directors and one chairman.

About FSIB :

• The Central Government has established the Financial Services Institutions Bureau with effect from July 1, 2022.
• The FSIB will serve the purpose of recommending persons for appointment as full-time directors and non-executive chairpersons on the Boards of financial services institutions.
• FSIB is responsible for recommending directors of state-owned banks and financial institutions.
• FSIB is headed by Bhanu Pratap Sharma, former secretary in the Department of Personnel and Training (DoPT).
• Other members of the headhunter are Animesh Chauhan, former chairman and MD of erstwhile Oriental Bank of Commerce, RBI’s ex-executive director Deepak Singhal, and Shailendra Bhandari, former MD of erstwhile ING Vysya Bank.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Jio and OneWeb Acquire Licences for Satellite Internet Services  

• Jio Satellite Communications and OneWeb, backed by Bharti Enterprises, have received licences from the government to provide broadband internet services to end-users using satellite.
• Both companies now have pan-India Internet Service Provider (ISP) licenses, which are essential for delivering internet connectivity through satellite or mobile networks.
• The licences, along with clarity on satellite spectrum allotment, pave the way for the commercial rollout of satellite-based internet services.

Key Highlights :

• The Department of Telecommunications (DoT) has already granted OneWeb and Jio Satellite the global mobile personal communication by satellite services (GMPCS) licence that is required to offer satellite-based broadband services in India.
• The ISP licences will allow the firms to now provide broadband services to end users at their homes and offices.
• While Jio Satellite received its ISP license a month back, OneWeb was given the ISP A (national area) and very small aperture terminal (VSAT) licences.
• VSAT, with its data transmission capabilities, plays a pivotal role in delivering broadband internet services, especially to homes and offices.
• SAT is a device equipped with an antenna commonly used for transmitting/receiving data, voice, and video signals.
• It often serves as a connectivity solution for banking/ATM machines in rural areas and provides backhaul connectivity for cellular mobile services.
• Having obtained GMPCS and ISP licences, Jio Satellite and OneWeb are poised to commercially deploy their satellite-based internet services.
• The final step involves clarity on the allotment of the satellite spectrum.
• Reliance Jio Infocomm previewed its satellite-based broadband services, JioSpaceFiber, at the India Mobile Congress on October 27.
• Four of the remotest locations in India have already been connected with JioSpaceFiber including Gir (Gujarat), Korba (Chattisgarh), Nabrangpur (Odisha), and ONGC (Jorhat, Assam).
• Notably, Jeff Bezos-led Amazon and Elon Musk’s Starlink are also eyeing the satellite communications space in India, and have sought a GMPCS license.

CURRENT AFFAIRS: SPORTS NEWS

Pankaj Advani Clinches 26th World Title at IBSF Billiards Championship 2023 in Doha

• India’s Pankaj Advani has lifted his 26th world title as he won the World IBSF Billiards Championship 2023 in Doha, Qatar.
• Pankaj defeated opponent Sourav Kothari with 1000-416 margin in the final.
• Advani stormed into the final with a convincing victory over fellow Indian Rupesh Shah.
• He defeated the Gujarat cueist 900-273.

Daily CA One-Liner: November 23

• The Central Council for Research in Ayurveda Sciences (CCRAS) under the Ministry of Ayush launched the Ayurveda Gyan Naipunya Initiative (AGNI) for physicians practising in the field of Ayurveda in New Delhi.
• The Indian government has approved investments by 27 companies including Dell, HP and Foxconn under its $2 billion incentive scheme to manufacture IT hardware domestically.
• Thirty-eight years into existence, the World Coal Association (WCA) has renamed itself FutureCoal- The Global Alliance for Sustainable Coal as part of its transformative branding.
• Union Minister of Information and Broadcasting Anurag, the International Film Festival of India (IFFI) in Goa on that the government is going to announce a new filmmaking policy
• The 2023 JCB Literary Prize was given to Tamil writer Perumal Murugan for Fire Bird.
• Sarbananda Sonowal memorandum of understanding (MoU) was signed between the Inland Waterways Authority of India (IWAI) and Amazon Seller Services Private Limited (Amazon) in New Delhi
• Traditional and Complementary Medicine ‘Project Collaboration Agreement’ has been signed by the Ministry of Ayush and the World Health Organization (WHO).
• The World Health Organization (WHO) has declared loneliness a pressing global health threat.
• India’s Pankaj Advani has lifted his 26th world title as he won the World IBSF Billiards Championship 2023 in Doha, Qatar.
• IDBI Bank has appointed EY India as the process adviser to facilitate the sale of its ₹4,000 crore distressed debt portfolio under the Stressed Assets Stabilisation Fund (SASF).
• According to the data compiled by the Reserve bank of India (RBI), the daily wages of rural agricultural workers in Madhya Pradesh are the lowest in the country.
• The Asian Development Bank (ADB) and the Global Environment Facility (GEF) have announced the establishment of the Natural Capital Fund (NCF), which is a concessional fund designed to support projects that enhance food security while also protecting and restoring natural capital in ADB’s developing member countries (DMCs).
• India’s largest commercial bank, State Bank of India (SBI) released its July-September quarter results.
• Federal Bank collaborated with India’s Top Seeded Shuttler, H.S. Prannoy.
• For the first time in over two decades, the United Nations and the International Atomic Energy Agency (IAEA) are collaborating on a new collection coming to the stamp counter.
• In a bid to catapult Tehri onto the global tourism stage, the Uttarakhand Tourism Development Board (UTDB) announced the maiden edition of Tehri Acro Festival, slated from November 24 to 28, 2023.
• Kerala state authorities are actively working to expand the cultivation of Geographical Indication (GI)-tagged Onattukara sesame.
• The Appointments Committee of the Cabinet (ACC), headed by Prime Minister Narendra Modi, appointed deputy managing director Vinay Tonse as one of State Bank of India’s (SBI) managing directors for 2 years till November 30, 2025.
• Jio Satellite Communications and OneWeb, backed by Bharti Enterprises, have received licences from the government to provide broadband internet services to end-users using satellite.