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CURRENT AFFAIRS : BANKING & FINANCE

Axis Bank Collaborates with Institute of Rural Management Anand (IRMA) to Establish Chair for Financial Inclusion                                 

• Axis Bank, one of the largest private sector banks in India, has signed a Memorandum of Understanding (MoU) with the Institute of Rural Management Anand (IRMA), to establish the Axis Bank Chair for Financial Inclusion at IRMA.
• The Chair is constituted for a period of 5 years, emphasizing a commitment to sustained efforts in the domain of financial inclusion.

Key Highlights :

• Focus Areas of the Chair : Primarily dedicated to research, the Chair aims to deepen industry-academia collaboration, foster thought leadership, and engage in policy advocacy.
• Objective : The establishment of the Chair is geared towards strengthening and accelerating financial inclusion (FI) and financial literacy initiatives in India.
• Research and Policy Support : The Chair’s primary objective is to conduct and coordinate field-based research to support national and state-level policies related to financial inclusion.
• Activities of the Chair : This involves designing financial inclusion strategies, capacity building for the banking sector in financial inclusion, conducting workshops, round tables, symposia, and teaching courses at IRMA.
• Joint Advisory Committee : As part of the collaboration, IRMA and Axis Bank shall set up a Joint Advisory Committee that will oversee the selection process for the Chair, finalize the terms, and periodically review its progress.

About Axis Bank :

• Established : 1993
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO: Amitabh Chaudhry
• Tagline : Badhti Ka Naam Zindagi (“Progress is the Name of Life”)

About Institute of Rural Management Anand (IRMA) :

• IRMA is an autonomous institution and a premier business school situated in Anand, Gujarat, India.
• Mandate: Contributing to the professional management of rural organizations.

CURRENT AFFAIRS: NATIONAL NEWS

Central Consumer Protection Authority imposes a penalty of ₹5Lakh on the Khan Study Group (KSG) Institute for advertising misleading claims

• The Central Consumer Protection Authority (CCPA) has imposed penalty of ₹ 5lakh for misleading advertisement and unfair trade practice on Khan Study Group (KSG).
• The decision was taken to safeguard consumer rights across the country.
• In view of the violation of the Consumer Protection Act, 2019, the CCPA, headed by Chief Commissioner, Smt. Nidhi Khare, and Commissioner, Shri Anupam Mishra have issued an Order against Khan Study Group (KSG) for misleading advertisement and unfair trade practice by advertising misleading claims.
• Every year when the Union Public Service Commission’s (UPSC) Civil Services Exam result comes out, various IAS coaching institutes start an advertisement blitzkrieg claiming successful candidates to be their students.
• Coaching Institutes use pictures and names of toppers and successful candidates to influence prospective aspirants, without disclosing the courses opted by such candidates or the fees paid by them & length of the course so attended.
• Therefore, CCPA took suo-moto cognizance & issued Notices to various IAS coaching Institutes and Khan Study Group is one of them.
• Khan Study Group in its advertisement made the following claims-

1. 682 out of 933 selected students are from KSG.
2. All TOP 5 Successful Candidates of the UPSC Civil Services Exam 2022 are from KSG.
3. Ishita Kishore AIR 1 UPSC 2022 is from KSG
4. Best IAS Coaching Institute for General Studies and CSAT in India.

Tata Memorial Hospital to set up Ayurveda-based cancer hospital in Khopoli

• The Tata Memorial Hospital will soon establish the nation’s first-ever hospital dedicated to the research and treatment of cancer through Ayurveda in Khopoli.
• The 100-bed hospital and research centre will be established on around 20-acre land in Khopoli.
• This complex will house a research centre dedicated to the exploration of Ayurvedic remedies for cancer.
• Anticipated completion for the hospital and research centre is scheduled for March 2026.
• The hospital has received ₹300 crore from the Department of Atomic Energy for the centre, which will be spearheaded by Dr Pankaj Chaturvedi, head and neck cancer surgeon.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Western Sydney University to set up campus in Bengaluru, Karnataka

• Western Sydney University (WSU), which is ranked 375th globally, is poised to become the third Australian university to set up a campus in India, following in the footsteps of Deakin University and the University of Wollongong.

Key Highlights :

• Australian Education Minister Jason Clare, currently visiting India with a delegation of 6 vice-chancellors, confirmed this development.
• WSU is keen on establishing its independent campus in Bengaluru by
• Deakin University and the University of Wollongong had applied to the International Financial Services Centres Authority (IFSCA) for permission to establish an international branch campus in GIFT City, Gujarat.
• Their campuses will be governed by the ‘Setting up and Operation of International Branch Campus and Offshore
• Education Centres Regulations, 2022,passed by IFSCA, which serves as the regulatory body for GIFT City. Deakin and Wollongong’s campuses should be operational by June 2024.
• All foreign universities intending to set up campuses outside of GIFT City will be governed by the University Grants Commission’s regulations, which were passed last month.
• Deakin University will be offering two postgraduate courses to students at the campus at GIFT City which are – Masters in Cybersecurity (professional) and Masters in Business Analytics – with an intake of 60 students in each course from academic session June 2024.
• Shri Pradhan co-chaired the 1st Australia India Education and Skill Council meeting with Australian Ministers HE Jason Clare, MP, Education Minister and HE Brendan O’Connor, Skills & Training Minister in Gandhinagar.
• The AIESC, earlier the Australian India Education Council (AIEC), is a bi-national body established in 2011 to guide the strategic direction of the education, training and research partnerships between the two countries.
• This is for the first time that education and skilling is being brought under the same institutional forum.
• In partnership with India’s National Skills Development Corporation (NSDC), Deakin University has developed the ‘Global Job Readiness Program’ (GJRP) to address skills shortages in India.
• The Innovative Research Universities (IRU) is a coalition of 7 public universities across Australia: Flinders University, James Cook University, La Trobe University, Murdoch University, Griffith University, University of Canberra, and Western Sydney University.
• The objective of the IRU’S MOU is to provide a framework for closer cooperation between parties in strengthening the Australia-India education partnership.
• This MoU is for collaboration on academic and research activities in the area of critical minerals and other areas of mutual interest.
• The MoU includes the exchange of academic materials, scholars and students and cooperative seminars, workshops and other academic activities.

CURRENT AFFAIRS : STATE NEWS

Kerala Government Establishes Organic Farming Mission to Enhance Climate-Smart Agriculture Initiatives          

• The Kerala Government established the Organic Farming Mission to promote sustainable organic and climate-smart farming practices in the state.

Aim :

• To expand organic farming to 5,000 hectares in Kerala over the next 5 years, with an annual target of 1,000 hectares.
• Kerala Agriculture Minister P Prasad stated that the government had formally issued orders related to the mission on October 26, 2023.

Key Highlights :

• Allocation of Land for Organic Farming : In farms managed by the State Agriculture Department, a minimum of 10% of the area will be designated for organic farming.
• Duration of Organic Farming Pursuit : The mission mandates that selected beneficiaries or farms engaged in organic farming schemes should adhere to the system for at least 5 years.
• Historical Context – 2010 Organic Farming Policy : In 2010, the Kerala Government had introduced the Organic Farming Policy, emphasizing the state’s commitment to sustainable agricultural practices.
• Political Commitment – Left Democratic Front’s Promise : The Left Democratic Front, in its election manifesto, had pledged to establish an institutionalised mechanism for promoting organic farming.
• Certification, Branding, and Marketing Focus : The Organic Farming Mission will take initiatives to enhance the certification, branding, and marketing of organic agricultural products originating from Kerala.

What is Organic farming?

• Organic farming, also known as ecological farming or biological farming is an agricultural system that uses fertilizers of organic origin such as compost manure, green manure, and bone meal and places emphasis on techniques such as crop rotation and companion planting.
• It focuses on cultivating and producing crops while minimizing the use of synthetic pesticides, fertilizers, genetically modified organisms (GMOs), and growth regulators.

Key Initiatives for Organic Farming in India :

National Programme for Organic Production (NPOP) :

• The NPOP is a central government initiative that sets out standards for organic production, accredits certifying agencies, and regulates the organic food market in India.
• It aims to provide certification and quality assurance for organic products.

National Horticulture Mission (NHM) :

• Launch Year: Initiated in 2005-06 under the 10th five-year plan.
• Funding: 85% from the Government of India and 15% from state governments.

Paramparagat Krishi Vikas Yojana (PKVY) :

• Launched by: Ministry of Agriculture and Farmers Welfare.
• Objective: Promotes traditional indigenous practices alongside organic farming.
• Support: Provides financial assistance to farmers adopting organic practices.

Rashtriya Krishi Vikas Yojana (RKVY) :

• Initiation Year: 2007
• Objective: An umbrella scheme for the holistic development of agriculture and allied sectors.

Mission Organic Value Chain Development for North Eastern Region (MOVCDNER) :

• This initiative targets the northeastern states to develop organic value chains.
• It includes capacity-building, research, certification, and infrastructure development to support organic farming practices in the region.

National Project on Organic Farming (NPOF) :

• The NPOF encourages organic farming by providing financial assistance and supporting infrastructure development for various activities related to organic farming.

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 : APPOINTMENTS & RESIGNATIONS

Association of Mutual Funds in India  appoints Venkat Nageswar Chalasani as chief executive                                  

• Industry body Association of Mutual Funds in India (AMFI) has appointed Venkat Nageswar Chalasani, former deputy managing director of State Bank of India, as its new chief executive.
• This announcement followed the end of NS Venkatesh’s tenure, who served two consecutive terms of three years each.
• The newly appointed CEO will concentrate on fostering growth in the mutual fund industry and implementing the AMFI 2.0 strategy.

About Venkat Nageswar Chalasani :

• Venkat Nageswar Chalasani brings over four decades of banking and treasury experience to his new role.
• He has previously held various board positions and has been a part of committees established by the Reserve Bank of India (RBI) and the Ministry of Finance.
• He has also been the Chairman of the Fixed Income Money Market and Derivatives Association of India (FIMMDA) and the Foreign Exchange Dealers Association of India (FEDAI).

About AMFI :

• Established : August 22, 1995
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Navneet Munot
• The Association of Mutual Funds in India (AMFI) is a non-profit organization representing all SEBI-registered mutual fund asset management companies in India.
• As of now, 45 Asset Management Companies that are registered with SEBI, are its members.

Rawat and Sood Appointed as Deputy Managing Directors of NABARD                          

• The central government has appointed Goverdhan Singh Rawat and Ajay Kumar Sood as Deputy Managing Directors (DMDs) of the National Bank for Agriculture and Rural Development (NABARD).
• Rawat’s appointment is for 5 years from taking charge or until further orders, whichever is earlier, as per a Department of Financial Services (DFS) notification.
• Sood’s appointment is effective from taking charge until his superannuation on August 31, 2027, or until further orders, according to the DFS notification.
• Rawat and Sood held the position of chief general managers in NABARD before their appointments as DMDs.
• DFS, under the finance ministry, announces the appointment of Prakash Kumar, currently serving as CGM, as DMD of SIDBI through another notification.

About NABARD :

• Headquarters: Mumbai, Maharashtra
• Chairman : Shri Shaji K V
• NABARD was established on the recommendations of Sivaraman Committee (by Act 61, 1981 of Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural Development Act 1981.
• It is an apex regulatory body for overall regulation of regional rural banks and apex cooperative banks in India.
• It is under the jurisdiction of the Ministry of Finance, Government of India.

About SIDBI :

• Headquarters: Lucknow, Uttar Pradesh, India,
• Chairman & MD : Sivasubramanian Ramann
• Small Industries Development Bank of India is the apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India.
• It is under the jurisdiction of the Ministry of Finance , Government of India (GoI).

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

CCI approves the acquisition of a certain stake of BALIC by BLVPL, from AXA India Holdings and the acquisition of a certain shareholding of BMSL by BEL from Societe Beaujon                                         

• The Competition Commission of India (CCI) approved Bharti Group’s acquisition of French insurer AXA’s 49% -stake in life insurance joint venture, taking its total shareholding to 100% in the company that was jointly run for nearly two decades.
• The proposed combination relates to the acquisition of 49% shareholding of Bharti AXA Life Insurance Company Limited. (BALIC) by Bharti Life Ventures Private Limited (BLVPL) from AXA India Holdings (“AXA”) (“Proposed Transaction 1”) taking its total shareholding in BALIC to 100% and acquisition of BALIC’s sole controL.
• AXA was looking to exit the JV over the last couple of years.
• Earlier, the Hinduja Group and Abu Dhabi Investment Authority (ADIA) were looking to buy Axa’s stake in the insurance company but the transaction did not go through.
• AXA had earlier exited another JV with Bharti.
• In 2020, Bharti AXA General Insurance was merged with ICICI Lombard in a deal that saw AXA sell its stake in ICICI Lombard.
• The acquisition to be completed by December 2023.
• Further, CCI also approved the proposal for the acquisition of 48.5% stake of Bharti Management Services Limited (BMSL) by Bharti Enterprise Limited (BEL) from Societe Beaujon.

About BEL :

• BEL is a public unlisted company incorporated in India.
• It is involved in the provision of management consultancy services.”
• Bharti, which owns India’s No. 2 telecom carrier Bharti Airtel, also operates Bharti Realty and runs packaged foods company Del Monte Foods Private Limited in India in partnership with Del Monte Pacific.

About CCI :

• Established : 14 October 2003
• Headquarters : New Delhi, Delhi, India
• Chairperson : Ravneet Kaur
• The CCI is the chief national competition regulator in India.
• It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act, 2002 to promote competition and prevent activities that have an appreciable adverse effect on competition in India.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

ICMR Introduces DISHA Portal for Geo-Mapping Diagnostic Labs Across India    

• The Indian Council of Medical Research (ICMR) has launched the Diagnostic Services in Healthcare (DISHA) portal to help the public in accessing nearest diagnostic healthcare facilities towards ensuring early detection and proactive management.
• DISHA will empower the consumer or patient with the knowledge to make informed decisions regarding the type of facility, the distance, test availability, test cost and turn-around time.
• This web portal is a dynamic platform which is being updated with new data-points as and when we have the access to required data.
• The ICMR is in the process of cataloguing diagnostic public healthcare facilities throughout the country and constructing a user-friendly and comprehensive dynamic online map to showcase the availability of relevant laboratory services.
• The robust diagnostic healthcare services lay the foundation of an efficient and high-quality healthcare system.
• Up to 60% to 70% of all critical healthcare decisions are based on the evidence provided by laboratory services.
• The government has set guidelines for operation and quality of diagnostic public health facilities, however, currently, the country has no information on availability of test’s, their costs, and infrastructure to gauge the effective utilisation of health services.

About ICMR :

• Headquarters : New Delhi, India
• Director General : Rajiv Bahl
• The Indian Council of Medical Research (ICMR), the apex body in India for the formulation, coordination and promotion of biomedical research, is one of the oldest and largest medical research bodies in the world.

Flying Wedge Defence and Aerospace becomes first ever entity to secure DGCA Type certification for indigenous unmanned aircraft technology                                  

• Flying Wedge Defence and Aerospace has become India’s first-ever private firm to secure a Directorate General of Civil Aviation (DGCA) type certification for indigenous unmanned aerial vehicle (UAV) technology.

DGCA Type Certification Significance :

• DGCA type certification is a regulatory requirement for any drone, aircraft, or aeroplane to operate in India.
• The stringent certification process is crucial for ensuring safety and reliability of unmanned aircraft within the country.

Key Highlights :

• Two surveillance drones from Flying Wedge Defense and Aerospace are currently operational in New Delhi.
• They are actively engaged in observing airspace and surroundings near the Prime Minister’s residence, highlighting the practical application of the indigenous UAV technology.
• Flying Wedge’s achievement is noteworthy as it signifies the development and certification of indigenous UAV technology, distinguishing it from Indian firms that have relied on technology imports, especially from China.
• Under the DGCA’s regulatory framework, no drone, aircraft, or aeroplane can operate in India without DGCA-type certification.
• This stringent certification process is regarded as a vital step in ensuring the safety and reliability of unmanned aircraft within the country.
• The Indian firms that have successfully obtained DGCA-type certification within this sector have obtained technology from abroad, predominantly from China.
• Flying Wedge chief executive officer (CEO) : Suhas Tejaskanda.

CURRENT AFFAIRS: MOUS AND AGREEMENT

REC to provide ₹ 10 crores assistance to ALIMCO, for distribution of aids and assistive devices to more than 5,000 Divyang Jan

• REC Foundation, the Corporate Social Responsibility arm of REC Limited, has signed a Memorandum of Agreement (MoA) with Artificial Limbs Manufacturing Corporation of India (ALIMCO), under which REC will provide assistance of ₹10.00 crores for a project for “Distribution of Aids and Assistive Devices to Persons with Disabilities” in 25 locations across the country.
• More than 5,000 people belonging to disadvantaged sections of society are expected to benefit from the project.
• The project aims to empower the Divyang Jan, restore their confidence and improve their functional abilities.
• The assistive devices are generally long-lasting and do not require high maintenance.
• The capital cost is borne under the project and the people receiving the aids and assistive devices are expected to maintain them.
• The Memorandum of Agreement was signed by Senior General Manager & Head of Department, REC Foundation, Shri Bhupesh Chandolia and General Manager (Marketing), ALIMCO, Shri Ajay Chaudhary.
• ALIMCO will implement the project.
• REC’s funding illuminates every fourth bulb in India.
• REC has recently diversified into financing infrastructure and the logistics sector as well.
• The loan book of REC exceeds Rs. 4,74,275 Crores.

About REC

• REC Limited is a Maharatna Central Public Sector Enterprise established in 1969 under the Ministry of Power. It is a Non-Banking Finance Company focusing on Power Sector Financing and Development across India. It provides financial assistance to state electricity boards, state governments, central and state power utilities, independent power producers, rural electric cooperatives and private sector utilities. Its business activities involve financing projects in the complete power sector value chain; for various types of projects including Generation, Transmission, Distribution and Renewable Energy.

About ALIMCO

• Artificial Limbs Manufacturing Corporation of India (ALIMCO) is a Schedule ‘C’ Miniratna Category II Central Public Sector Enterprise, under the administrative control of Department of Empowerment of Persons with Disabilities, Ministry of Social Justice & Empowerment, Government of India. It is 100% owned by the Govt. of India.

6th India-Australia Joint Working Group Meeting on Cooperation in Water Resources Held

• The 6th India-Australia Joint Working Group Meeting on Water Cooperation between Ministry of Jal Shakti, Government of India and Department of Climate Change, Energy and Water, Government of Australia was held.
• The event brought together representatives from both Indian and Australian Governments for a productive discussion on enhancing cooperation in water sector and charting the way forward with respect to various ongoing and proposed activities.
• The Indian side was led by Mr. Anand Mohan, Joint Secretary (RD&PP), Department of Water Resources, River Development & Ganga Rejuvenation, Ministry of Jal Shakti while the Australian side was led by Mr. Matthew Dadswell, Head of Water Policy Division, Department of Climate Change, Energy, Environment and the Water (DCCEEW), Australia.

Key Highlights

• The opening remarks by both the Co-chairs focused on the rich history of India-Australia Cooperation Programme in water sector and also emphasized on taking forward the cooperation through active engagement in various technical and policy activities intended for addressing challenges in the sector.
• Further, both the Indian and the Australian side noted with satisfaction the progress achieved so far, against the implementation plan including technical exchanges and execution of demonstrative projects leading to institutional capacity building for meeting the challenges of water sector.
• A Memorandum of Understanding (MoU) between India and Australia was signed on 10th November, 2009 and renewed on 5th September 2014.
• Subsequently, a fresh MoU was signed between Government of India and Government of Australia on 20th May, 2020 effective for a period of five years for Cooperation in the field of Water Resources Management.

Air India enters into interline partnership with Alaska Airlines for 32 destinations in US, Mexico, Canada

• Air India has recently established an interline partnership with Alaska Airlines.
• This collaboration will enable Air India’s customers to access “seamless connections” from various gateways, including New York JFK, Newark-New Jersey, Washington DC, Chicago, San Francisco, and Vancouver, to 32 destinations across the USA, Mexico, and Canada within Alaska Airlines’ network.
• An interline arrangement means an agreement to issue and accept tickets for flights operated by the partnering airline. When interline tickets are sold, the flight numbers of the operating airlines are used.
• The partnership between Air India and Alaska Airlines encompasses bilateral interlining, allowing both airlines to sell tickets on each other’s networks.
• The two airlines have also entered a Special Prorate Agreement, which allows Air India to file ‘through fares’ on routes covering Alaska Airlines’ network.
• This arrangement means that a passenger can have a single fare for a single ticket covering all destinations in an itinerary.

CURRENT AFFAIRS: RANKING AND INDEX

QS Asia Rankings 2024: India surpasses China with highest number of universities

• The Indian Institute of Technology (IIT) Bombay, continues to retain its top ranking in India, with China retaining its top-most position in QS World University Rankings: Asia 2024.
• With 148 universities in the ranking list, India also becomes the country in Asia with the highest number of universities being featured surpassing China with 133 and Japan with 96 universities.
• This shows 37 new entries from India compared to last year’s report, which is significantly more than only seven new entries from China (mainland).
• The UK-based ranking agency, QS Quacquarelli Symonds declared its Asia ranking for the year 2024.
• Peking University secured the top spot for the second consecutive year, while the University of Hong Kong climbed to second place.
• The National University of Singapore (NUS) wrapped up the top three.
• A total of seven Indian institutions feature in the top 100 ranks of QS World University Rankings: Asia; of which five are IITs, whereas the other two include Indian Institute of Science, Bangalore and Delhi University.
• IIT Bombay grabbed the top spot in India with the 40th position followed by IIT-Delhi at the 46th position and IIT-Madras at the 53rd position.
• Whereas IITs Kharagpur and Kanpur which rank 5th and 6th nationally, have shown a considerable jump in their Asia rank.
• The two non-IIT institutions from India in top 100 Asia ranks are Indian Institute of Science Bangalore and Delhi University.
• In this edition, a total of 857 institutions from 25 Asian countries were ranked.

CURRENT AFFAIRS: SPORTS NEWS

Indian Junior Hockey Team Won Bronze Medal In 11th Sultan Johor Cup 2023

• The junior Indian men’s hockey team beat Pakistan 6-5 in a shootout at the Taman Daya Hockey Stadium in Johor Bahru, Malaysia to win the bronze medal at the Sultan of Johor Cup 2023.
• In the Sultan of Johor Cup 2023, India had topped Pool B to make it to the semi-finals but lost 6-3 to Germany in their final-four match to drop down to the third-place playoff.
• In the final match, Germany emerged as the champion of the 11th Sultan of Johor Cup, securing the gold medal by defeating Australia 3-1 in a penalty shootout.
• The Indian Junior Men’s Hockey Team qualified for the FIH Hockey Men’s Junior World Cup 2023 after defeating arch-rivals Pakistan 2-1 in the Final of the 2023 Men’s Hockey Junior Asia Cup, which was held in Salalah, Oman.

CURRENT AFFAIRS: IMPORTANT DAYS

National Education Day: 11th November

• National Education Day 2023 is observed on the 11th of November 2023.
• National Education Day was first observed by the Ministry of Human Resource Development on November 11, 2008.
• It is observed every year after the birth anniversary of Maulana Abul Kalam Azad who was the first Educational Minister of Independent India.
• He served the Educational Minister for over a period of Ten Years.
• The Day is celebrated to honor the First Educational Minister of India and his uncomparable contribution to the Education system of India.
• Maulana Abul Kalam Azad helped with the establishment of two major education governing bodies of India – the University Grants Commission (UGC) and the All India Council for Technical Education (AICTE).
• The First National Education Day was celebrated on 11th November 2008 at Vigyan Bhawan, New Delhi, and was first inaugurated by then President Pratibha Patil.

Daily CA One- Liner: November 11

• The Central Consumer Protection Authority (CCPA) has imposed a penalty of ₹ 5lakhs for misleading advertisement and unfair trade practice on Khan Study Group.
• The Tata Memorial Hospital will soon establish nation’s first-ever hospital dedicated to the research and treatment of cancer through Ayurveda in Khopoli.
• REC Foundation, the Corporate Social Responsibility arm of REC Limited, has signed a Memorandum of Agreement (MoA) with Artificial Limbs Manufacturing Corporation of India (ALIMCO), under which REC will provide assistance of ₹10.00 crores for a project for “Distribution of Aids and Assistive Devices to Persons with Disabilities” in 25 locations across the country.
• The 6th India-Australia Joint Working Group Meeting on Water Cooperation between the Ministry of Jal Shakti, Government of India and the Department of Climate Change, Energy and Water, Government of Australia was held.
• Air India has recently established an interline partnership with Alaska Airlines.
• The Indian Institute of Technology (IIT) Bombay, continues to retain its top ranking in India, with China retaining its top-most position in QS World University Rankings: Asia 2024.
• Axis Bank, one of the largest private sector banks in India, has signed a Memorandum of Understanding (MoU) with the Institute of Rural Management Anand (IRMA), to establish the Axis Bank Chair for Financial Inclusion at IRMA.
• Western Sydney University (WSU), which is ranked 375th globally, is poised to become the third Australian university to set up a campus in India, following in the footsteps of Deakin University and the University of Wollongong.
• The Kerala Government establishes the Organic Farming Mission to promote sustainable organic and climate-smart farming practices in the state.
• Industry body Association of Mutual Funds in India (AMFI) has appointed Venkat Nageswar Chalasani, former deputy managing director of State Bank of India, as its new chief executive.
• The central government has appointed Goverdhan Singh Rawat and Ajay Kumar Sood as Deputy Managing Directors (DMDs) of the National Bank for Agriculture and Rural Development (NABARD).
• The Competition Commission of India (CCI) approved Bharti Group’s acquisition of French insurer AXA’s 49% -stake in life insurance joint venture, taking its total shareholding to 100% in the company that was jointly run for nearly two decades.
• The Indian Council of Medical Research (ICMR) has launched the Diagnostic Services in Healthcare (DISHA) portal to help the public in accessing the nearest diagnostic healthcare facilities towards ensuring early detection and proactive management.
• Flying Wedge Defence and Aerospace has become India’s first-ever private firm to secure a Directorate General of Civil Aviation (DGCA) type certification for indigenous unmanned aerial vehicle (UAV) technology.
• The junior Indian men’s hockey team beat Pakistan 6-5 in a shootout at the Taman Daya Hockey Stadium in Johor Bahru, Malaysia to win the bronze medal at the Sultan of Johor Cup 2023.
• National Education Day 2023 is observed on the 11th of November 2023.