Daily Current Affairs November 04 2023 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

UPI Transactions Through voice command from April 2024

• The National Payments Corporation of India (NPCI) has issued a circular directing banks, payment service providers, and other stakeholders to enable the ‘Hello! UPI’ feature in their apps by March 31.
• Starting from April, individuals will have the capability to make UPI transactions through voice commands.

Key Highlights :

• Hello! UPI’ feature enables users to perform various UPI functions using voice commands, including user onboarding, balance inquiry, financial transactions, complaint resolution, and more.
• Reserve Bank of India (RBI) governor Shaktikanta Das had previously announced the launch of several new products, including ‘Hello! UPI,’ by the NPCI during the Global Fintech Festival in September.
• With the ‘Hello! UPI’ feature, users can initiate transactions by giving voice commands.
• For example, they can open the UPI app and say “Hello” followed by the name of the app, and then proceed to make a payment to a contact saved in their list.
• Initially, this voice command service will be available in English and Hindi.
• Over time, users will have the option to use voice commands in 11 regional languages.

About NPCI :

• Founded : 2008
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Dilip Asbe
• The NPCI is an umbrella organization for operating retail payments and settlement systems in India.
• It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment & Settlement Infrastructure in India.

SBI raises ₹10,000 crore via tier 2 bonds at a 7.8% coupon rate

• India’s largest public sector lender State Bank of India (SBI) announced that it
  has raised ₹10,000 crore at a coupon rate of 7.81% through its first Basel III compliant Tier 2 Bond for the current financial year – FY 2023-34.
• They have a tenor of 15 years, with the first call option available after 10 years.

Key Highlights :

• SBI’s Tier 2 Bond issuance received an overwhelming response from investors.
• It attracted bids worth ₹15,907 crore, which is nearly 4 times the base issue size of ₹4,000 crore.
• There were a total of 98 bids for the bonds.
• It is to be known that this is the first Tier 2 Bond issuance by the Bank in the current financial year.
• The Bank has been rated AAA with a stable outlook from CRISIL and India Ratings & Research Private Limited for these instruments.

Recent News :

• On 31 October,2023 SBI Card announced a collaboration with Reliance Retail to roll out Reliance SBI Card.
• It is set to benefit card-holders while shopping at various Reliance Retail outlets.
• The card comes in two variants, i.e. Reliance SBI Card, and Reliance SBI Card PRIME.

About SBI :

• Established : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Dinesh Kumar Khara
• CFO : Kameshwar Rao Kodavanti

IRDAI Establishes Committee to Boost Banks’ Involvement in Insurance Product Sales 

• The Insurance Regulatory and Development Authority of India (IRDAI) has established a high-level panel with an objective to recommend measures to enhance the involvement of banks in making insurance products more readily accessible across India.

Key Highlights :

• Despite the extensive branch network of banks covering various regions of the country, their contribution as corporate agents in the insurance sector remains relatively low.
• In the year 2022-23, banks accounted for only 93% of non-life insurance premiums and 17.44% of new business premiums for life insurance.
• Banks currently engage in the distribution of insurance products as corporate agents or as master policyholders, adhering to regulatory guidelines.
• The task force is headed by J Meena Kumari, Executive Director (Life), IRDAI.
• The panel also has representations from banks and insurance companies.
• The panel has been asked to suggest regulatory stipulations on the market conduct requirements of bancassurance partners, especially in view of mis-selling/forced selling complaints in the distribution model.

About IRDAI : 

• Established : 1999
• Headquarters : Hyderabad, Telangana
• Chairperson : Debasish Panda
• The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance industries in India.

CURRENT AFFAIRS: NATIONAL NEWS

ECI launches Integrated Expenditure Monitoring Software to file Expenditure Statement by political parties

• The Election Commission of India (ECI) has launched Integrated Expenditure Monitoring Software (IEMS), a new tech-enabled portal to facilitate online filing of Contribution Reports, Election Expenditure Statements, and Audited Annual Accounts by political parties.
• This facility will enable the political parties to file statutory and regulatory compliances, reports, and statements in a smooth manner with greater transparency.
• For ease of monitoring of election expenses, candidates would be required to open a separate bank account and incur their election expenses from only that account.
• The Election Commission’s control room and Complaint Monitoring Centre with 24-hour toll-free numbers will remain functional during the entire election process.
• District Election Officers (DEOs) will collect unusual and suspicious cash withdrawals or deposits of cash exceeding one Lakh rupees from banks for verification followed by necessary action.
• If the amount is more than 10 Lakh rupees, then DEOs will pass on such information to the Income Tax  Department for necessary action.
• According to the ECI, the Investigation Directorate of the Income Tax Department will activate Air Intelligence Units at the airports to gather intelligence.
• Based on these intelligence inputs, it will check the movement of large sums of money in poll-bound states.

Union Minister Sarbananda Sonowal to launch domestic sailing of first International Cruise Liner ‘COSTA SERENA’ in India at Mumbai

• Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal will launch the domestic sailing of the first International Cruise Liner ‘COSTA SERENA’ in India at Mumbai.
• At the recently concluded Global Maritime India Summit 2023 organised by the Ministry, discussions revolved around reaching the target of 50 million cruise passengers in India by 2047.
• Costa Cruises is expected to carry approximately 45,000 passengers in its next 2 months voyages.
• Such cruise initiatives are part of ‘Dekho Apna Desh’, launched on Prime Minister’s appeal to the middle class to prefer domestic tourism over international.

Shri Sanjay Kumar inaugurates a national-level innovation challenge aimed at motivating young individuals to create functional prototypes of innovative solutions

• The Secretary of the Department of School Education & Literacy, Shri Sanjay Kumar inaugurated a national-level innovation challenge aimed at motivating young individuals to create functional prototypes of innovative solutions.
• The Ministry of Education collaborated with the ATL Marathon program, spearheaded by the Atal Innovation Mission, NITI Aayog, in partnership with UNICEF and YuWaah.
• Chintan Vaishnav (Mission Director, AIM), Shri Vipin Kumar (Additional Secretary, Ministry of Education), Kevin Frey (CEO, Generation Unlimited), Dhuwarakha Sriram (Chief of YuWaah, Youth Development and Partnerships, UNICEF) and Abhishek Gupta (COO YuWaah, UNICEF) attended the event.
• Department of School Education & Literacy has been committed to strengthening education in India through the National Education Policy (NEP) framework, with a focus on practical learning.
• Initiatives like the School Education Council and various programs have been instrumental in promoting this approach.
• The collaboration with the ATL Marathon has been a significant step in this direction, with over 32,000 innovations submitted by school students from across India over the last six years.

PM Modi, Sheikh Hasina inaugurate key rail link, 2 other India-backed projects

• Prime Minister Narendra Modi and Bangladesh’s Prime Minister Sheikh Hasina virtually inaugurated a rail link connecting Northeast India with Bangladesh.
• Three Indian-assisted development projects were jointly inaugurated by Prime Ministers of India and Bangladesh via video conferencing.
• The three projects are the Akhaura-Agartala Cross-Border Rail Link, Port Khulna-Mongla Rail Line, and Unit-II of the Maitree Super Thermal Power Plant.
• The Akhaura-Agartala Cross-Border Rail Link is 12.24 km long with a 6.78 km Dual Gauge rail line in Bangladesh and 5.46 km in Tripura.
• It has been executed under the Government of India grant assistance of 392.52 crore rupees extended to Bangladesh.
• The total project cost of the Khulna-Mongla Port Rail Line is USD 388.92 million.
• It has been implemented under the Government of India’s concessional Line of Credit.
• With this, Mongla Port will be connected to the broad-gauge railway network. Mongla is the second largest port of Bangladesh.
• Bangladesh-India Friendship Power Company Limited is a 50:50 Joint Venture company between NTPC Ltd and Bangladesh Power Development Board.

About Maitree Super Thermal Power

• The Maitree Super Thermal Power Project is a 1320 MW Super Thermal Power Plant. It is located in Rampal in Khulna Division of Bangladesh.
• It has been implemented by the Bangladesh-India Friendship Power Company Limited.

AI named Collins Dictionary word of the year; Bazball, made famous by English coach Brendon McCullum, also finds a berth

• The abbreviation of artificial intelligence (AI) has been named the Collins Word of the Year for 2023.
• Lexicographers at Collins Dictionary said the use of the term had “accelerated” and that it had become the dominant conversation of 2023.
• Other words on Collins’s list include “Nepo Baby,” “Greedflation,” and “Bazball”.
• The word “Permacrisis,” defined as “an extended period of instability and insecurity” was the Collins Word of the Year in 2022.
• ‘Bazball’ has made its way to the Collins dictionary in recognition to the bold, risk-taking style of play adopted by the England men’s cricket team under red-ball coach Brendon McCullum.
• The term was coined after former New Zealand captain and opener MCcCullum, who is popularly known as ‘Baz’, took over the reigns as England’s Test coach in May 2022.
• Listed as a noun, Bazball is described “a style of Test cricket in which the batting side attempts to gain the initiative by playing in a highly aggressive manner,” in the dictionary.

CURRENT AFFAIRS : INTERNATIONAL NEWS

15th India-Singapore Defence Policy Dialogue held in New Delhi

• The 15th India-Singapore Defence Policy Dialogue took place in New Delhi.

Co-Chairs :

• The dialogue was co-chaired by Defence Secretary Shri Giridhar Aramane from India.
• The co-chair from Singapore was Chan Heng Kee, who serves as the Permanent Secretary (Defence).

Key Highlights :

• During the meeting, both sides reviewed the existing defence cooperation between India and Singapore.
• They agreed to enhance collaboration in Service-to-Service interactions and bilateral exercises.
• Both sides discussed steps to advance cooperation in emerging areas, particularly in the field of cyber security.
• Both nations identified ways to enhance existing areas of collaboration, with a special focus on maritime security and multilateral cooperation.
• India’s Defence Secretary appreciated Singapore’s efforts in coordinating and co-hosting the maiden ASEAN-India Maritime Exercise in May 2023.
• The Defence Secretary highlighted the potential of the domestic defence industry in India, with the capacity and capability to meet Singapore’s requirements.
• Both sides reaffirmed their commitment to fully implement the ‘Strategic Partnership’ based on mutual trust, common interests, and shared values of democracy and the rule of law.
• This was the first physical meeting at the level of Defence Secretary between India and Singapore following the COVID-19 pandemic.
• Earlier, the Permanent Secretary (Defence) called on the Chief of Defence Staff and discussed issues of mutual interest.
• The Singapore delegation also visited various cultural places, including Pradhanmantri Sangrahalaya in New Delhi.

About Singapore :

• President : Tharman Shanmugaratnam
• Prime Minister : Lee Hsien Loong
• Currency : Singapore dollar

CURRENT AFFAIRS: BUSINESS NEWS

Government clears 110 applications for imports of laptops, other IT hardware products worth about USD 10 billion

• The government has cleared 110 of the total 111 applications, including those of Apple, Dell and Lenovo, that sought permission for imports of IT hardware products like laptops and computers on the first day of implementation of the new system.
• Other companies that received import approvals include HP India Sales Pvt Ltd, ASUS India, IBM India, Samsung India Electronics, Xiaomi Technology India, Cisco Commerce India, Microsoft Corporation (India), Siemens Ltd, Bosch Ltd, Redington Ltd, Ingram Micro India, and Oracle India.
• As many as 111 applications were received so far seeking authorization for the import of IT products.
• The government last month tweaked curbs on imports of laptops and computers, allowing importers to bring in shipments of IT hardware from overseas on a mere ‘authorisation’ upon detailing quantity and value.
• The new license regime is applicable to laptops, personal computers (including tablet computers), microcomputers, large or mainframe computers, and certain data processing machines to ensure India’s trusted supply chain.
• The new system, that kicked in from November 1, is introducing a mechanism where companies that want to import these items have to register how many units they’re bringing in and how much they’re worth. The government won’t stop these imports, but it will keep an eye on them.
• The Ministry of Commerce and Industry has made some changes to the rules.
• Now, IT hardware made in Special Economic Zones (SEZs) can be brought into the Domestic Tariff Area (DTA) without needing special permission.
• Also, private companies that are importing on behalf of government agencies for defence and security purposes don’t need special permission either.
• Under the new system, companies are required to register the quantity and value of imports on a portal.
• The authorisation for these imports is valid until September 2024.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Mobility and Migration Partnership Agreement signed between India and Italy to facilitate movement of workers, students and professionals

• External Affairs Minister Dr S Jaishankar held a comprehensive and productive meeting with Deputy Prime Minister and Foreign Minister of Italy Antonio Tajani in Rome.
• They conversed about deepening the India-Italy strategic partnership.
• They agreed that potential in agro-tech, innovation, space, defence and the digital domain should be explored.
• Dr Jaishankar appreciated Italy’s support for India’s initiatives and also for the G20 Presidency.
• After the talks, they signed the Mobility and Migration Partnership Agreement and the Cultural Exchange Programme to enable seamless movement of workers, students and professionals and also address the challenges of illegal migration.
• Dr Jaishankar began his visit to Italy with a Senate interaction on deepening partnership.
• Senators Giulio Terzi Roberto Menia co-chaired the interaction.
• The External Affairs Minister appreciated the warm sentiments for India across party lines
• Dr Jaishankar also met Defence Minister of Italy Guido Crosetto.
• The agenda focused on taking forward the renewed defence and security partnership.
• The External Affairs Minister appreciated the assessments of Mr Crosetto and valued the suggestions for defence industry cooperation.

NSDCI and EFS Facilities Services Group Ink MOU for Skilled Workforce Mobility

• National Skill Development Corporation of India and EFS Facilities Services Group (EFS), a Facilities Management Firm based in the UAE, have signed a Memorandum of Understanding (MoU) to promote Skilled International Workforce Mobility (IWM) for Indian nationals, with a specific focus on the GCC countries.
• The MoU outlines the collaborative efforts of these two entities to structure a principle framework for achieving the common objective of promoting skilled workforce mobility.
• The partnership also aims to develop co-branded skilling institutions to equip Indian nationals with the skills needed for international and local employment, and to create access to approximately 5000 overseas jobs for skilled Indian nationals over the next three years.
• Additionally, NSDCI and EFS will jointly develop courses for the Skill India Digital App and support accreditation and curriculum development for various training institutes.

Key Highlights

• The primary objective of this MoU is to promote Skilled International Workforce Mobility (IWM) for Indian nationals, with a specific focus on the Gulf Cooperation Council (GCC) countries, which include the United Arab Emirates (UAE), Kingdom of Saudi Arabia (KSA), Qatar, Kuwait, Bahrain, and Oman.
• The two entities are working together to establish a foundational framework aimed at promoting skilled workforce mobility.
• NSDCI and EFS will join forces to develop co-branded skilling institutions that will equip Indian nationals with the essential skills required for international and local employment.
• The partnership’s goal is to open up access to approximately 5000 overseas job opportunities for skilled Indian nationals over the next three years.
• This collaborative effort extends to offering placement opportunities in key industries across the Gulf Cooperation Council (GCC) region.

Attendees

• The MoU was signed by Satinder Pal Singh COO of EFS and Ved Mani Tiwari CEO of NSDCI in the presence of Union Minister of Education and Skill Development Dharmendra Pradhan.

ECI signs MoU with the Ministry of Education to bring Electoral Literacy to Classrooms across the country

• A Memorandum of Understanding (MoU) on electoral literacy was signed between the Election Commission of India (ECI) and the Ministry of Education.
• The MoU underscores the development of an institutional framework that seeks to incorporate electoral literacy formally into the school and college education system.
• This includes structured curricular, co-curricular, and extracurricular activities, all of which will help in preparing future and new voters for greater electoral participation and in effect strengthening democracy.
• It is crucial to capture the attention of young minds and educate them about the significance and value of their vote in every election.

Salient features of the MoU:

• Systematically integrating voter education and electoral literacy into the curriculum, starting from classes 6 to 12 in all schools.
• This integration will also extend to the curricular framework for all colleges and universities, tailored to suit different disciplines and credited accordingly.
• NCERT will introduce and update textbooks to include content on electoral literacy and will advise State Education Boards and other Boards to follow suit.
• Emphasises the orientation and training of teachers in effectively imparting electoral literacy in classrooms.
• Fosters a sense of responsibility within State Education Departments for establishing Electoral Literacy Clubs (ELCs) in schools and colleges.

Background

• The MoU is aimed at extending the ECI’s flagship Systematic Voters’ Education and Electoral Participation (SVEEP) in schools and colleges.
• The objective is to encourage universal and enlightened participation of future voters in elections.
• The MoU also aims to address the issues like apathy among urban and young voters, as a crucial aspect of Continuous Electoral and Democracy Education.
• This integration seeks to motivate future voters to participate more actively in elections, fostering responsible citizenship, and reinforcing our democratic system with informed and dutiful citizens.

GAIL signs Rs 63,000-cr deal to source petrochemical feedstock from BPCL

• State-run oil and gas majors Bharat Petroleum Corporation (BPCL) and Gas Authority of India (GAIL) have signed a 15-year contract for the supply of propane, a critical petrochemical feedstock.
• The 15-year supply contract, estimated at a value of over Rs 63,000 crore, will see BPCL providing GAIL with 600 kilo tonnes per annum (KTPA) of propane from its LPG import facility at Uran.
• The propane will be supplied to GAIL’s propane dehydrogenation (PDH)-polypropylene (PP) project in Usar, Maharashtra.
• GAIL’s Usar PDH-PP project represents the inception of India’s inaugural PDH plant, which is set to commence operations in 2025.
• The unit will boast capacity of 500 KTPA, with propylene production integrated into a PP plant of equal capacity.
• This venture aligns with the surging demand for polypropylene, which is projected to reach 6.3 million tonnes by 2025, up from 4.9 million tonnes in 2020.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Rohit Rishi Takes Office as Executive Director of Bank of Maharashtra

• Rohit Rishi has been appointed as the Executive Director of the Bank of Maharashtra (BoM).
• He takes over the role from A B Vijayakumar, who retired from the position on October 31, 2023.

About Rohit Rishi :

• Rohit Rishi’s professional journey began in 1995 when he joined Indian Bank as an Industrial Development Officer.
• Over his career spanning more than 28 years, Rishi has held various positions and worked across different regions of India.
• His roles have included serving as an Industrial Development Officer, AGM MSME/Corporate Office in Chennai, Head of the bank’s flagship branch in New Delhi, DGM (Corporate Branch, New Delhi), and Field General Manager (FGM) at locations such as Bengaluru, Mumbai, and Delhi.
• Before assuming the role of Executive Director at Bank of Maharashtra, Rishi served as the Field General Manager (FGM) in Delhi with Indian Bank.

About BoM :

• Established : 16 September 1935
• Headquarters : Pune, Maharashtra
• MD & CEO : A. S. Rajeev
• Tagline : One Family One Bank

Bharat Heavy Electricals Limited (BHEL) Names Koppu Sadashiv Murthy as Chairman and Managing Director

• Koppu Sadashiv Murthy has been appointed as the Chairman and Managing Director (CMD) of Bharat Heavy Electricals Limited (BHEL).
• He will succeed Nalin Shinghal, who served as the CMD of BHEL from July 8, 2019.
• Before this appointment, Koppu Sadashiv Murthy held the position of Executive Director of the Corporate Operations Management group at BHEL.
• While at BHEL, he also held an additional charge as the Chairman and Managing Director of Bharat Pumps and Compressors Limited (BPCL).

About Koppu Sadashiv Murthy :

• Murthy joined BHEL in 1989 at its Jhansi manufacturing unit – a transformer & locomotive manufacturing hub.
• During his 34 years of years of wide-ranging and hands-on experience in BHEL’s Corporate Office and in various manufacturing units such as Hyderabad, Bhopal, Jhansi, and

About BHEL :

• Headquarters : New Delhi, Delhi
• It is under the ownership of the Government of India and administrative control of the Ministry of Heavy Industries (MHI).

ISB Professor Sarang Deo Named to WHO’s TB Advisory Group                           

• Professor Sarang Deo, Professor of Operations Management; Deputy Dean of Faculty and Research; and Executive Director of Max Institute of Healthcare Management at the Indian School of Business (ISB) has been appointed as a member of the Strategic and Technical Advisory Group (STAG) for Tuberculosis by World Health Organisation (WHO).
• Professor Deo will be part of a 15-member group of global experts who will provide WHO’s Director-General with an independent evaluation of the strategic, scientific, and technical aspects of the organisation’s work on eradicating TB.
• The group is chaired by Ethel Leonor Maciel, Secretary of Surveillance for Health and Environment, Ministry of Health, Brazil and includes Anurag Bhargava, Professor of Medicine, Yenepoya Medical College from India.

About Professor Sarang Deo :

• Professor Sarang Deo’s primary research area is the effective management of healthcare delivery systems, with a specific focus on improving population-level health outcomes, especially in low and middle-income countries.
• He has conducted research on various healthcare contexts, including the formal and informal pathways for TB diagnosis in India, as well as innovative delivery models for healthcare commodities and services across continents such as Africa, North America, and Europe.
• He is actively involved in expert committees constituted by organizations like the Indian Council of Medical Research (ICMR) and the National Technical Advisory Group on Immunization (NTAGI).

About STAG-TB Mission :

• The mission of the STAG-TB is to contribute to ending the tuberculosis epidemic, and eventually eliminating the disease, by providing state-of-the-art scientific and technical guidance to WHO.
• STAG-TB’s functions include evaluating WHO’s TB-related work from a scientific and technical perspective, reviewing progress and challenges, and advising on priorities in WHO’s activities related to TB prevention and care.
• WHO’s Global Tuberculosis Programme serves as the Secretariat for STAG-TB, coordinating its activities.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Motilal Oswal Alternates Receives Approval from Competition Commission of India (CCI) for Acquisition of Stake in SK Finance                        

• Motilal Oswal Alternates, a subsidiary of Motilal Oswal Finance Service Limited (MOFSL), has obtained regulatory approval from the Competition Commission of India (CCI) for its proposed acquisition of a stake in SK Finance Limited.
• SK Finance Limited is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India (RBI).
• It is primarily involved in providing financing for vehicles (both new and used) and extending loans to micro, small, and medium enterprises (MSMEs).
• The deal involves a minority investment in SK Finance Ltd. by India Business Excellence Fund-IV.
• India Business Excellence Fund-IV is an Alternative Investment Fund (AIF) registered with the Securities and Exchange Board of India (SEBI).
• This fund specialises in investments in equity and equity-linked instruments.
• India Business Excellence Fund-IV is an affiliate or associated fund of Motilal Oswal Alternates, further highlighting the connection between the two entities.
• The investment in SK Finance Ltd. is likely to strengthen Motilal Oswal’s presence in the financial sector, specifically in the area of vehicle financing and support to MSMEs.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

China approves the world’s first passenger-carrying flying taxi Ehang’s EH216-S                             

• Ehang, a Chinese drone manufacturer, has received regulatory approval from the Civil Aviation Administration of China (CAAC) for its autonomous air taxi, the EH216-S AAV.
• This marks the first instance of an unmanned aerial vehicle (UAV) being certified to carry passengers in China.
• Ehang claims to be the first company globally to have achieved regulatory approval for an autonomous passenger-carrying UAV, indicating its pioneering role in the field.

About Ehang’s EH216-S air taxis :

• Ehang’s EH216-S air taxis are electric vertical take-off and landing (eVTOL) aircraft that can carry up to two passengers or 600 pounds of cargo.
• They are powered by 16 electric rotors and can fly at speeds of up to 80 mph and distances of up to 18 miles.
• The air taxis are controlled by a centralised command and control centre that monitors the flight status, routes and weather conditions.
• Passengers can simply select their destination on a touchscreen inside the cabin and enjoy the ride without worrying about piloting the aircraft.
• The air taxis use electric power to reduce environmental harm caused by emissions.
• They can be fully charged in 2 hours and have low noise levels.
• The EH216-S vehicles have multiple redundancies in their systems, such as backup batteries, rotors, and communication links.
• They also have emergency landing systems and parachutes in case of any malfunction.

About China :

• President: Xi Jinping
• Capital: Beijing
• Currency : Renminbi

NASA Launches Sounding Rocket for INFUSE Mission                            

• The National Aeronautics and Space Administration (NASA) launched a sounding rocket as part of its Integral Field Ultraviolet Spectroscopy Experiment (INFUSE) mission.
• The INFUSE was launched from the White Sands Missile Range in New Mexico.
• It was launched to study the Cygnus Loop, a supernova remnant.

Key Highlights :

• The INFUSE mission is expected to collect information about the Cygnus Loop for a few minutes.
• The observations are made from a height of 150 miles (240 km) above Earth’s surface.
• The instrument used in the mission gathers light in far-ultraviolet wavelengths.
• It focuses on capturing light emitted as the supernova’s blast wave interacts with pockets of cold gas in the Milky Way.
• The mission’s primary objective is to understand how the supernova remnant, Cygnus Loop, contributes energy to the Milky Way.
• It will study the Cygnus Loop and try to understand the life cycle of stars
• The Cygnus Loop is the remnant of a star that was originally 20 times the size of our Sun.
• Approximately 20,000 years ago, this massive star collapsed under its own gravity and exploded into a supernova.
• Even from 2,600 light-years away, astronomers estimate the flash of light would have been bright enough to see from Earth during the day.

About NASA :

• Established : July 29, 1958
• Headquarters : Washington, D.C, United States of America
• Administrator : Bill Nelson

CURRENT AFFAIRS : OBITUARIES

RSS senior pracharak and idealogue Ranga Hari passed away            

• Senior pracharak and ideologue of the Rashtriya Seva Sangh (RSS) Ranga Hari passed away in Kochi at the age of 93.

About Ranga Hari :

• Hari’s association with the RSS began in 1944.
• Ranga Hari was the first RSS leader from Kerala to attain the highest echelons of the organization.
• He served as the Boudhik Pramukh from 1991 to 2005 and remained an active member of the RSS executive committee.
• During the RSS ban, Hari was imprisoned from December 1948 to April 1949.
• Hari’s contributions extended beyond India as he provided guidance to the Hindu Swayamsevak Sangh in Asia and Australia from 1994 to 2005.
• He travelled extensively to 22 countries, participating in global conferences on pre-Christian religions and traditions.
• Known for his literary contributions, Hari authored 20 books in Malayalam, 8 in Hindi, and one in Konkani.
• He also compiled 3 Malayalam books and a comprehensive compilation of Golwalkar’s works, titled ‘Shri Guruji Samagra,’ consisting of 12 volumes in Hindi.
• In January 2022, RSS sarsanghchalak Mohan Bhagwat unveiled Hari’s work, ‘Vyasa Bharathathile Bhishmar’ (Bhishma in Vyas Bharat), a sequel to his earlier publications, including books on characters like Krishna, Karna, Droupadi, and Narada in Vyas Bharat.

Daily CA One- Liner: 4^th November

• The National Payments Corporation of India (NPCI) has issued a circular directing banks, payment service providers, and other stakeholders to enable the ‘Hello! UPI’ feature in their apps by March 31.
• India’s largest public sector lender State Bank of India (SBI) announced to have raised ₹10,000 crore at a coupon rate of 81% through its first Basel III compliant Tier 2 Bond for the current financial year – FY 2023-34.
• The Insurance Regulatory and Development Authority of India (IRDAI) has established a high-level panel with an objective to recommend measures to enhance the involvement of banks in making insurance products more readily accessible across India.
• The Election Commission of India (ECI) has launched Integrated Expenditure Monitoring Software (IEMS), a new tech-enabled portal to facilitate the online filing of Contribution Reports, Election Expenditure Statements, and Audited Annual Accounts by political parties
• Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal will launch the domestic sailing of the first International Cruise Liner ‘COSTA SERENA’ in India at Mumbai
• Secretary, Department of School Education & Literacy, Shri Sanjay Kumar inaugurated a national-level innovation challenge aimed at motivating young individuals to create functional prototypes of innovative solutions.
• Prime Minister Narendra Modi and Bangladesh’s Prime Minister Sheikh Hasina virtually inaugurated a rail link connecting Northeast India with Bangladesh.
• The abbreviation of artificial intelligence (AI) has been named the Collins Word of the Year for 2023
• The government has cleared 110 of the total 111 applications, including those of Apple, Dell and Lenovo, that sought permission for imports of IT hardware products like laptops and computers on the first day of implementation of the new system
• External Affairs Minister Dr S Jaishankar held a comprehensive and productive meeting with Deputy Prime Minister and Foreign Minister of Italy Antonio Tajani in Rome.
• National Skill Development Corporation of India and EFS Facilities Services Group (EFS), a Facilities Management Firm based in the UAE, have signed a Memorandum of Understanding (MoU) to promote Skilled International Workforce Mobility (IWM) for Indian nationals, with a specific focus on the GCC countries.
• A Memorandum of Understanding (MoU) on electoral literacy was signed between the Election Commission of India (ECI) and the Ministry of Education.
• State-run oil and gas majors Bharat Petroleum Corporation (BPCL) and Gas Authority of India (GAIL) have signed a 15-year contract for the supply of propane, a critical petrochemical feedstock.
• The 15th India-Singapore Defence Policy Dialogue took place in New Delhi.
• Rohit Rishi has been appointed as the Executive Director of Bank of Maharashtra (BoM).
• Koppu Sadashiv Murthy has been appointed as the Chairman and Managing Director (CMD) of Bharat Heavy Electricals Limited (BHEL).
• Professor Sarang Deo, Professor of Operations Management; Deputy Dean of Faculty and Research; and Executive Director of Max Institute of Healthcare Management at the Indian School of Business (ISB) has been appointed as a member of the Strategic and Technical Advisory Group (STAG) for Tuberculosis by World Health Organisation (WHO).
• Motilal Oswal Alternates, a subsidiary of Motilal Oswal Finance Service Limited (MOFSL), has obtained regulatory approval from the Competition Commission of India (CCI) for its proposed acquisition of a stake in SK Finance Limited.
• Ehang, a Chinese drone manufacturer, has received regulatory approval from the Civil Aviation Administration of China (CAAC) for its autonomous air taxi, the EH216-S AAV.
• The National Aeronautics and Space Administration (NASA) launched a sounding rocket as part of its Integral Field Ultraviolet Spectroscopy Experiment (INFUSE) mission.
• Senior pracharak and ideologue of the Rashtriya Seva Sangh (RSS) Ranga Hari passed away in Kochi at the age of 93.