National News

Maharashtra CM Unveils Shivaji Maharaj Statue in J&K’s Kupwara

• Maharashtra Chief Minister Eknath Shinde, accompanied by other dignitaries, inaugurated a statue of Chhatrapati Shivaji Maharaj in Jammu and Kashmir's Kupwara district on November 7.
• This statue, situated at the 41 National Rifle (Maratha LI) camp near the Line of Control (LoC), symbolizes the deep connection Maharashtra shares with the revered Chhatrapati Shivaji Maharaj.
• The construction materials, including soil and water, were sourced from five different forts across Maharashtra, namely Shivneri, Torna, Rajgarh, Pratapgarh, and Raigarh.

KVIC Chairman Launches 'Diwali Utsav' Promoting 'Vocal for Local'

• Shri Manoj Kumar, Chairman of KVIC, inaugurated the 'Diwali Utsav' Gramshilpa, Khadi Lounge in Connaught Place, New Delhi.
• This initiative seeks to imbue the festive spirit with the essence of 'Vocal for Local.'
• The event showcases a diverse array of locally-manufactured products, including clay diyas crafted by Delhi's potters, Lakshmi and Ganesh idols, handcrafted clay temples, millet-based products from Village Industries and PMEGP units, candles, agarbatti, Khadi jackets by skilled artisans, and a trendy assortment of Khadi garments.

International News

China Faces Deflationary Pressures Despite Import Surge in October

• China, the world's second-largest economy, experienced a setback as it slipped into deflation in October.
• The Consumer Price Index (CPI) witnessed a 2 percent year-on-year decline, indicating a return to deflation.
• Notably, food, tobacco, and alcohol prices, with pork leading at a 30.1 percent decline, recorded the most significant falls in October.
• This poses a challenge for Chinese officials working to stimulate demand following marginal improvements in the preceding months.

US Announces $553 Million Investment in Adani’s Sri Lanka Port Terminal Project

• The United States International Development Finance Corporation (DFC) has disclosed a substantial investment of $553 million in Adani Ports' container terminal project at the Port of Colombo, Sri Lanka.
• This significant financial commitment aims to bolster private-sector investments supporting economic development and strategic partnerships in the region.
• The move reflects the United States' dedication to enhancing economic growth and development, strategically positioning Sri Lanka along major shipping routes to cater to growing economies.

State News

President Droupadi Murmu’s Historic Visit on Uttarakhand Foundation Day

• On November 9, Uttarakhand commemorates its 23rd Foundation Day, and President Draupadi Murmu's participation marks a historic occasion, being the first time in 23 years that a President has joined Uttarakhand's Foundation Day
• This day signifies the official formation of Uttarakhand, formerly known as Uttaranchal, as the 27th state of the Republic of India on November 9, 2000.
• It celebrates the indomitable spirit of its people and their rich cultural heritage.

Banking News

Global Ratings Predicts RBI Interest Rate Cut in 2024-25 If Food Inflation Is Controlled

• Global Ratings, a major credit rating agency, predicts a potential reduction in interest rates by the Reserve Bank of India (RBI) in the fiscal year 2024-25, contingent on the control of food inflation and monsoon performance.
• Despite the projected interest rate cut, S&P Global Ratings remains optimistic about India's economic growth, forecasting a 6% GDP growth in the current year and 6.9% over the next two years, outpacing many peers in the Asia-Pacific region. However, higher interest rates pose a fiscal challenge.

PayGlocal Receives In-Principle Approval From RBI for Payment Aggregator License

• PayGlocal, a cross-border payment platform, has received in-principle approval from the Reserve Bank of India (RBI) for a Payment Aggregator (PA)
• This approval empowers PayGlocal to onboard merchants onto its platform for online payment processing.
• Established in 2021, the company offers a technology platform facilitating secure online payments through various instruments, including cards and global alternative payment methods.

Important Days News

World Science Day for Peace and Development 2023 (November 10)

• Celebrated annually on November 10, World Science Day for Peace and Development stands as a global acknowledgment of science's pivotal role in society.
• The 2023 theme, "Building Trust in Science," reflects the significance of fostering trust in scientific endeavors.
• Proclaimed by UNESCO in 2001, this day has been instrumental in catalyzing projects, programs, and global funding for scientific initiatives.

International Week of Science and Peace 2023 (November 9-15)

• The International Week of Science and Peace (IWOSP), observed from November 9 to 15 annually, serves as a testament to science's vital role in fostering global peace and development.
• Originating in 1986 as part of the International Year of Peace, the week gained official recognition from the United Nations General Assembly in 1988.
• Evolving into a platform encouraging international collaboration, inspiring future generations, and highlighting science's transformative potential, IWOSP contributes to creating a more peaceful and sustainable world.

Schemes News

IREDA Launches CSR Portal for Enhanced Transparency

• The Indian Renewable Energy Development Agency (IREDA), under the Ministry of New and Renewable Energy, has recently introduced a dedicated Corporate Social Responsibility (CSR) portal.
• This initiative aims to boost transparency in managing CSR requests from various organizations and institutions, accessible 24/7.
• The portal incorporates a comprehensive CSR policy and a proposal checklist, ensuring effective scrutiny of CSR requests.
• Embracing transparency and accessibility, IREDA seeks to streamline the execution of its social welfare projects, making them easily accessible to the public.

Appointments News

Santosh Kumar Jha Nominated as Next CMD of Konkan Railway

• The Public Enterprises Selection Panel (PESB) has recommended Santosh Kumar Jha as the next Chairman & Managing Director of Konkan Railway Corporation Limited (KRCL).
• In other notable appointments, Koppu Sadashiv Murthy has assumed the role of Chairman Managing Director at Bharat Heavy Electricals Limited (BHEL).
• Anupama Priyadarshini has joined the Open Network for Digital Commerce (ONDC) as the Senior Vice President – Corporate Governance, Risk and Compliance, and Investor Relations, showcasing the dynamics of leadership in key organizations.

Science & Technology News

Aditya-L1 Captures First-Ever Sight of Solar Flares

• India's maiden solar mission, Aditya L1, achieved a significant milestone by capturing its first high-energy X-ray glimpse of solar flares.
• The High Energy L1 Orbiting X-ray Spectrometer (HEL1OS) aboard the Aditya-L1 spacecraft recorded the impulsive phase of solar flares.
• This breakthrough aligns with data provided by the National Oceanic and Atmospheric Administration (NOAA) Geostationary Operational Environmental Satellites (GOES), marking a leap forward in solar research.

IBM and AWS Launch Innovation Lab in Bengaluru

• IBM and Amazon Web Services (AWS) have jointly inaugurated an Innovation Lab at the IBM Client Experience Center in Bengaluru, India.
• This Innovation Lab underscores the commitment of both companies to facilitate experimentation with cutting-edge cloud-enabled technologies, including generative AI.
• Open to clients worldwide, the lab encourages exploration of joint solutions, testing prototypes, and validating proofs of value, with the overarching goal of accelerating innovation across diverse industries.

7 Ring Smart Ring Enables Contactless Payments in India

• Seven, a consumer electronics startup, has introduced the 7 Ring smart ring in India.
• Crafted from Zirconia Ceramic with scratch resistance and an IP68 rating for water and dust resistance, this smart wearable combines durability with style.
• With multiple size options available, the 7 Ring smart ring offers contactless payments and is currently available at an early bird offer of Rs 4,777, down from its MRP of Rs 7,000.

Ranks Reports News

WHO Confirms India’s Remarkable Progress in Reducing TB Incidents

• The World Health Organization's 'Global TB Report 2023' highlights India's commendable efforts in combating tuberculosis (TB).
• With a treatment coverage of 80% for estimated TB cases, India has shown a significant increase of 19% compared to the previous year.
• The report also reveals a 16% decrease in TB incidence in India from 2015 to 2022, nearly double the global decline rate of 8.7%. This accomplishment underscores India's commitment to addressing public health challenges effectively.