Daily Current Affairs November 11 2022

 

CURRENT AFFAIRS: IMPORTANT DAYS

National Education Day: 11th November

• National Education Day 2022 is observed on the 11th of November 2022.
• National Education Day is 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 as Educational Minister for over Ten Years.
• The Day is celebrated to honour the First Educational Minister of India and his uncomparable contribution made 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.

CURRENT AFFAIRS: NATIONAL NEWS

Kerala will host the 18th International Telemedicine Conference (TELEMEDICON 2022):

• The 18th International Telemedicine Conference is being hosted by the Kerala Chapter of the Telemedicine Society of India (TSI) and Amrita Hospital in Kochi.
• S. Somnath, chairman of ISRO, Mr. Mohanan Kunnummal, vice chancellor of the Kerala University of Health Science, and Dr. Rethan Kelkar, secretary of information technology for Kerala, presented awards during the inaugural ceremony.
• The event’s chief guest was Mr. S. Somnath, the ISRO Chairman.
• The primary focus of Telemedicon 2022 is “Strengthening Health Systems Through Sustainable Telemedicine and Digital Health.”
• It seeks to provide platforms for service providers, foreign specialists, financing agencies for healthcare, and healthcare regulators.
• The scientific seminars on subjects including Telehealth tourism, AI-based Telehealth systems, and Space Telemedicine Programs are among the event’s highlights.
• The occasion will also feature seminars on the legal aspects of telemedicine, moderated by Justice Devan Ramachandran.

Dehradun hosts the commencement of the 42nd International Congress of the INCA:

• The 42nd International Congress of the Indian National Cartographic Association (INCA) was opened in Dehradun by Lieutenant General Gurmit Singh (Retd.), the governor of Uttarakhand.
• The National Hydrographic Office is hosting the 42nd International Congress in Dehradun, Uttarakhand, on November 9–11, 2022.
• Digital Cartography to Harness Blue Economy is the theme of the 42nd International Congress of the Indian National Cartographic Association.
• The cause of cartography as a visual form of communication is one that INCA is committed to.
• It includes numerous illustrious academics, professionals, and businesspeople among its Honorary Fellows, Life Fellows, Members, Associate Members, and Student Members.
• Practicing cartographers from various organizations and universities make up the majority of its members.

Varanasi will host the PM Gati Shakti Multimodal Waterways Summit:

• Prime Minister Gati Shakti Multimodal Waterways Summit will be launched by Union Minister Sarbananda Sonowal in Varanasi, Uttar Pradesh, at the Deendayal Hastkala Sankul (Trade Centre and Museum), the PM Gati Shakti Multimodal Waterways Summit will take place.
• The summit’s main goal is to raise awareness of the PM Gati Shakti National Masterplan with a focus on the construction of canal infrastructure.
• To assure first and last-mile connectivity, the PM Gati Shakti Multimodal Waterways Summit is a game-changing strategy for enhancing logistics effectiveness and lowering logistics costs.
• Under Gati Shakti, the Ministry has identified 101 projects with a total estimated cost of around 62 thousand crore rupees, with a target completion date of 2024.
• Prime Minister Narendra Modi introduced PM Gati Shakti, which aims to improve logistical effectiveness by providing multimodal connecting infrastructure to several special economic zones.

CURRENT AFFAIRS: BUSINESS NEWS

Morgan Stanley predicts that India would become the world’s third-largest economy by 2027:

• According to Morgan Stanley, India is on track to become the world’s third-largest economy by 2027, surpassing Japan and Germany, and to have the third-largest stock market by 2030, thanks to global trends and important investments in technology and energy.
• Overall, India’s GDP is expected to more than double from $3.5 trillion today to $7.5 trillion by 2031.
• Over the same period, its proportion of global exports may treble, and the Bombay Stock Exchange could rise at an 11% annual rate, achieving a market capitalization of $10 trillion.
• “In a world that is currently ravenous for development, the opportunity in India must be on the radar of global investors,” says Chetan Ahya, Morgan Stanley’s Chief Asia Economist.
• “From 2023 onwards, India will be one of just three economies in the world that can achieve more than $400 billion in annual economic production growth, rising to more than $500 billion by 2028.”

CURRENT AFFAIRS: BANKING & FINANCE

Max Life ties up with Ditto for Online Life Insurance Distribution

• Max Life Insurance Company Ltd. has announced a life insurance product distribution tie-up with Tacterial Consulting Private Limited (Ditto). 

Aim :

• To leverage Ditto’s diversified insurance advisory platform to offer Max Life’s plans to online customers.

Key Highlights :

• In the initial phase, Ditto will sell multiple variations of Max Life’s protection plan providing comprehensive coverage against Death, Disease & Disability along with applicable riders facilitated via a seamless digital distribution model.
• The tie-up aims to improve Max Life’s customer experience by leveraging Ditto’s insurance advisory capabilities and technological prowess to enhance life insurance penetration in the country.

About Max Life Insurance Company Limited :

• Founded: 2000
• Headquarters: New Delhi, Delhi, India
• MD & CEO: Prashant Tripathy
• Max Life Insurance Company Limited is a life insurance company in India with a joint venture (JV) between Max India Ltd and Axis Bank.
• It is a subsidiary of the publicly listed Max Financial Services and is the largest non-bank private-sector life insurer in

SME lending startup ftcash gets NBFC license from RBI

• The Reserve Bank of India (RBI) has granted ftcash, a startup in Small and Medium Enterprise (SME) lending, a license to set up a non-banking financial company (NBFC). 

Aim :

• To disburse loans worth ₹100 crores in
• The company has partnerships with Northern Arc, Ugro, and Ambit for providing credit offerings to their customers.

Key Highlights :

• Nearly 80% of all Micro Small & Medium Enterprise (MSMEs) in India lack access to funding, despite the government announcing many efforts to improve credit availability for the stressed MSMEs sector.
• The NBFC license will allow us to bridge this credit gap while offering loans with minimal documentation along with daily repayment options via PoS with equated daily instalments.
• ftcash has raised $10.2 million in funding and is backed by several investors including Accion, FMO, and IvyCap Ventures.

About ftcash :

• Founded: 2015
• Headquarters: Mumbai, Maharashtra
• Founders : Sanjeev Chandak, Deepak Kothari and Vaibhav Lodha.
• CEO : Sanjeev Chandak
• ftcash is an RBI-registered NBFC and one of India’s fastest-growing financial technology companies.
• ftcash has won numerous awards and recognitions since its inception, including a prestigious award by HRH the Duke and Duchess of Cambridge, Prince William, and Kate Middleton, at the UK Trade and Investment – Great Tech Initiative
• For recognition for its work in financial inclusion by the former President of India Pranab Mukherjee in

About RBI :

• Established: 1 April 1935
• Headquarters: Mumbai, Maharashtra
• Governor : Shaktikanta Das
• Deputy governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi Shankar

AIIB & GEAPP partners to accelerate the energy transition

• The Asian Infrastructure Investment Bank (AIIB) and the Global Energy Alliance for People and Planet (GEAPP) announced a collaboration and strategic investment partnership for mobilizing up to $1 billion for the financing of green energy transition and renewable energy projects, in both the public and private sectors.
• AIIB’s Vice-President of Policy and Strategy, Sir Danny Alexander, and GEAPP’s CEO, Simon Harford, signed the documentation.
• Jin Liqun, President of AIIB; Rajiv Shah, President of The Rockefeller Foundation; Per Heggenes, CEO of IKEA Foundation; and Dr. Andrew Steer, President, and CEO of Bezos Earth Fund joined in the ceremony.

About the Partnership :

• The partnership sees AIIB and GEAPP cooperating through a shared vision to address the energy transition challenges in Asia through the identification of co-financing opportunities for projects and programs of common interest in grid-based renewables, distributed renewables, and fossil fuel transitioning areas.
• In 2021 AIIB achieved a 48% climate finance share of total approvals in 2021.

About AIIB :

• Founded: 16 January 2016
• Headquarters: Beijing, China
• President : Jin Liqun

About GEAPP :

• Founded: 2021
• Headquarters: New York

Bureau of Energy Efficiency signs MoU with SIDBI to finance green MSMEs

• The government body for energy efficiency Bureau of Energy Efficiency (BEE) has signed a memorandum of understanding (MoU) with the Small Industries Development Bank of India (SIDBI) for Micro Small & Medium Enterprise (MSMEs).

Aim :

• To promote energy efficiency financing for MSMEs and explore the internet of things (IoT)-based solutions, greening MSMEs, capacity building of various stakeholders, etc.
• The announcement comes weeks after SIDBI announced partnerships with multiple stakeholders to help MSMEs become more energy efficient in their operations to support India’s Sustainable Development Goals (SDG) 2030 targets.

Key Highlights :

• Meanwhile, BEE and MSME ministry jointly runs a collaborative platform Sameeksha (Small and Medium Enterprises Energy Efficiency Knowledge Sharing) to pool the knowledge and synergise the efforts of various organizations for the promotion and adoption of clean energy technologies and practices among MSMEs.
• As per India’s updated Nationally Determined Contribution (NDC) to the UN’s Framework Convention on Climate Change (UNFCCC), India has to reduce the emissions intensity of its GDP by 45% by 2030, from the 2005 level.
• India will achieve 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030.
• SIDBI had signed MoUs with German development agency Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH for operating a Risk Sharing Facility (RSF) that provides credit guarantees to loans from commercial banks or non-banking financial companies (NBFCs).
• Two other MoUs were signed with the Technology Information, Forecasting, and Assessment Council (TIFAC) under the Department of Science and Technology and CII to identify and promote scalable green and clean technologies by MSMEs. 

About BEE :

• Established: 1 March 2002
• The BEE is an agency of the Government of India, under the Ministry of Power under the provisions of the nation’s 2001 Energy Conservation Act

About SIDBI :

• Established: 2 April 1990
• Headquarters: Lucknow, Uttar Pradesh, India
• Chairman & MD : Sivasubramanian Ramann
• SIDBI is the apex regulatory body for the overall licensing and regulation of micro, small and medium enterprise finance companies in
• It is under the jurisdiction of the Ministry of Finance, Government of India.
• It acts as the principal financial institution for the promotion, financing, and development of MSMEs.
• It is also a project executing agency for Partial Risk Sharing Facility (PRSF) that guarantees energy efficiency projects.

MF penetration: Maharashtra, Delhi in lead; Jharkhand in top 10

• According to data from the Association of Mutual Funds in India (AMFI), Maharashtra, New Delhi, and Goa have the highest mutual fund (MF) penetration in India, due to high-income levels, better literacy rates, and high inflows from corporates and net worth individuals. (HNIs).
• However, it is not that all higher-income and developed states have high MF penetration and all ‘poorer’ states lag.

Top 5 countries with the highest MF penetration :

Level	Country	Entry	Per Capita Average Assets Under Management (AAUM) (Rs)	Share of Equity Schemes in AAUM
1	Maharashtra	60	1,36,280	36%
2	New Delhi	42	1,66,860	47%
3	Goa	28	1,47,410	73%
4	Haryana	21	54,970	40%
5	Gujarat	17	41, 720	63%

Key Highlights :

• Jharkhand is one of the top 10 states with 13% penetration, MF penetration is not 5-6% in Telangana and
• Jharkhand has 79% of the state’s assets under management (AUM) in equity, and companies mostly invest in credit schemes.
• Jharkhand ranks 16th in terms of per AUM (Rs 10,750) despite high penetration.
• The highest AUMs per capita are in New Delhi, Goa, and Maharashtra.
• The states with the lowest AUM per capita (Rs. 2,300 to Rs. 3,700) are Manipur, Bihar, and
• North-eastern states also have low MF penetration rates.
• The penetration rate is lowest in southern states like Kerala, Telangana, and Andhra Pradesh.

About AMFI :

• Founded: 1995
• Headquarters: Mumbai, Maharashtra, India
• Chairman : A Balasubramanian
• Members: 44
• The AMFI is the regulatory body for the mutual funds sector in
• It is a division of the Securities and Exchange Board of India, Ministry of Finance, GoI.

CURRENT AFFAIRS: RANKING AND INDEX

Three Indian women are included in the 2022 Asia’s Power Businesswomen List:

• The annual “Asia’s Power Businesswomen” list, which includes 20 women from the Asia-Pacific area, has been released by Forbes Asia.
• Three Indian ladies are also included on the list of powerful women.
• The 20 women highlighted are new to the list and help Forbes Asia’s network of influential women in the region grow.

2022’s Top Asian Businesswomen:

• Ghazal Alagh, co-founder and chief innovation officer of Honasa Consumer, Mamaearth’s parent company, is the first Indian woman to be mentioned on the list.
• She co-founded the Gurgaon-based business in 2016 with her CEO-husband Varun.
• The company owned by Alagh became a unicorn in January of this year.
• Powerful Businesswomen in Asia Soma Mondal in 2022
• Soma Mondal, the first woman to lead the state-run steel company SAIL, is the second entrepreneur from India on the list.
• According to Forbes, SAIL’s yearly income increased by 50% during the fiscal year that concluded on March 31, 2022, after Mondal was appointed chairperson in 2021.
• Among the other women on the list are Wallaya Chirathivat, president director, and CEO of Thailand’s largest retail property developer Central Pattana, as well as Japan’s twin sisters Anna and Mizuki Nakajima, co-founders of smartphone gaming app Coly, the youngest of the list, and Choi Soo-Yeon, CEO of Naver, the largest internet company by market capitalization in South Korea.

IIT Bombay is the top university in Southern Asia: QS Asia University Rankings for 2023:

• According to the QS Asia University Rankings 2023, the Indian Institute of Technology (IIT) Bombay offers the greatest education in Southern Asia, with IIT Delhi coming in second.
• The number of institutions in the 15th edition of the QS World University Rankings: Asia has increased from 687 to 757, making it the largest ranking for the area to date.
• The QS ranking 2023 is based on academic and employer reputations, the amount of personnel with a PhD, and the ratio of international students, among other factors.
• This year’s university ranking list includes 760 Asian universities.

LIST OF INDIAN UNIVERSITIES:

• IIT Bombay (40th)
• IIT Delhi (46th)
• IISc Bangalore (52)
• IIT Madras (53)
• IIT Kharagpur (61)
• IIT Kanpur (66)
• University of Delhi (85)
• IIT Roorkee (114)
• JNU (119)
• IIT Guwahati (124)
• VIT Vellore (173)
• University of Calcutta (181)
• Jadavpur University (182)
• Anna University (185)
• Chandigarh University (185)
• IIT Indore (185)
• BITS Pilani (188)
• Jamia Millia Islamia (188)
• Amity University Noida (200)

The top 10 Asian Universities:

1. China’s Peking University
2. National University of Singapore
3. Tsinghua University, Beijing
4. The University of Hong Kong
5. Nanyang Technological University, Singapore
6. Fudan University, China
7. Zhejiang University, China
8. Korea Advanced Institute of Science and Technology
9. Universiti Malaya (UM), Kuala Lumpur
10. Shanghai Jiao Tong University

Report on the State of Food and Agriculture in 2022 FAO publishes:

• The State of Food and Agriculture (SOFA) is one of the UN Food and Agriculture Organization’s yearly flagship reports (FAO).
• Based on scientific evaluation, it provides thorough insights into numerous concerns relating to food and agriculture.
• The paper evaluated several agricultural automation drivers, including recently developed digital technology.
• The paper assessed the business case for deploying these digital automation technologies across various agricultural production systems worldwide using 27 case studies.
• It highlighted several barriers to the widespread adoption of these technologies, particularly among small-scale producers.
• It identified two key challenges to their adoption: inadequate digital literacy and a lack of supportive infrastructures such as the internet and the availability of electricity.
• The paper advocated policies that will allow disadvantaged groups to access agricultural automation technologies, which will aid in developing sustainable and resilient agri-food systems.
• Since the 1960s, the agricultural industry in high-income countries in North America, Europe, and Oceania has been heavily automated.

UNESCO: World Heritage Glaciers Will Disappear by 2050

• Glaciers at numerous UNESCO World Heritage sites, including Yellowstone and Kilimanjaro National Park, would certainly vanish by 2050, the UN organization warned, urging countries to act quickly to safeguard the rest.
• The warning came after a survey of 18,600 glaciers at 50 World Heritage sites.
• According to UNESCO, the study “shows that these glaciers have been retreating at an accelerated rate since 2000 due to CO2 emissions, which are rising temperatures.”
• The glaciers were losing 58 billion tonnes of ice each year, equivalent to France and Spain’s combined annual water use, and were responsible for over 5% of the documented global sea-level increase, according to the agency.
• “Regardless of efforts to curb temperature increases, glaciers in one-third of the 50 World Heritage sites are doomed to melt by 2050.”

About UNESCO:

• Headquarters: Paris, France
• Founded: 16 November 1945, London, United Kingdom
• Head: Audrey Azoulay

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Mr. Ramesh Kejriwal elected as the new president of the All India Rubber Industries Association

• All India Rubber Industries Association (AIRIA) has elected Mr. Ramesh Kejriwal of India Oil Seals and Synthetic Products, Kolkata, as its new president for the year 2022-23.
• Kejriwal will be succeeding Mr. Sawar Dhanania.
• Kejriwal will play a key role in leading forward the road map of the apex body for rubber industries in the country.
• Shashi Kumar Singh of Osaka Rubber Pvt Ltd., Mumbai, will be the senior vice-president for the second term & Mr. Sanjeev Sikka of Majestic Rubber Industries, Ghaziabad will be the vice-president
• The AIRIA has unanimously elected the office bearers for the year 2022-23 in Annual General Meeting held on 27th September 2022 in Kolkata, West Bengal.

About Mr. Ramesh Kejriwal :

• Kejriwal was the Managing Committee Member of AIRIA.
• He has served as the Eastern Region Chairman and on various committees of AIRIA.
• He is a Partner of India Oil Seals and Synthetic Products as well as the President of, the Polymer Division at Hobb International Private Limited, Kolkata. 
• Under his leadership, India Oil Seals and Synthetic Products has emerged as one of the most significant manufacturers of rubber-lined pipe fittings, tanks, and
• He has a long history in the rubber business and is well-versed in modernization, equipment selection, and project implementation.

About AIRIA :

• Founded: 1945
• Headquarters: Mumbai, Maharashtra
• The AIRIA is the largest not-for-profit non-government body serving the rubber industry and

Justice Shri DY Chandrachud Takes Oath As The 50th Chief Justice Of India

• Justice Shri Dhananjaya Yashwant Chandrachud took oath as the 50th Chief Justice of India (CJI) after over 6 years as a judge of the Supreme Court.
• He will have a term of over two years till November 10, 2024 – making it one of the longest terms for a CJI in the recent past.
• President Droupadi Murmu administered the oath at a brief ceremony held at the Rashtrapati Bhavan.
• Justice Shri Chandrachud succeeds Justice Shri UU Lalit who retired on November 8 after a 74-day stint.

About Justice Shri DY Chandrachud :

• He was elevated as a judge of the Supreme Court on May 13, 2016.
• He is the son of the longest-serving CJI YV Chandrachud (16th Chief Justice of India), who headed the Judiciary from February 22, 1978, to July 11, 1985.
• Justice Chandrachud and his father are the only father-son duo to have reached the position of the CJI in the country’s judicial history.
• He was the Additional Solicitor General of India from 1998 to 2000
• He has also served as the judge of the Bombay High Court from 29 March 2000.

About Chief Justice of India :

• The CJI is the Chief Judge of the Supreme Court of India as well as the highest-ranking officer of the Indian Judiciary.
• The CJI and the Judges of the Supreme Court (SC) are appointed by the President under clause (2) of Article 124 of the Constitution

Qualifications:

• The CJI should be a citizen of India.
• A person has been for at least five years a Judge of a High Court or two or more such Courts in succession or
• Have been for at least ten years an advocate of a High Court or two or more such Courts in succession, or
• Be, in the opinion of the President, a distinguished jurist.
• The retirement age of Supreme Court judges is 65 years.

GSMA elects Bharti Airtel Group CEO Mr. Gopal Vittal as Deputy Chair

• GSMA (Global System for MobileAssociation), a global organization covering mobile ecosystems across countries, has elected Gopal Vittal, chief executive of Bharti Airtel Group, as deputy chair of the association’s board of directors for a two-year term, beginning 1 January 2023 through 31 December 2024.
• Mathew Oomen, president of Reliance Jio too has been elected as a board member.
• Vittal is the second Indian to hold a senior position in the global grouping of mobile operators.
• Jose Maria Alvarez-Pallete Lopez, CEO of Telefonica Group, will continue to be the Chair at the GSMA.
• There are 26 members of the GSMA Board. including senior representatives from global mobile operators as well as smaller independent operators.

About GSMA :

• Established: 1995
• Headquarters: London, England, United Kingdom
• Director General: Mats Granryd

Adidas Appoints Ex-Puma Chief Mr. Bjorn Gulden as New CEO From January 2023

• Adidas AG appointed former Puma Societas Europaea chief executive officer (CEO) Mr. Bjorn Gulden as its next CEO effective Jan.1, 2023.
• Gulden will replace Mr. Kasper Rorsted, Adidas’ CEO since 2016.
• Adidas chief financial officer Harm Ohlmeyer will serve as interim CEO until the end of the year, Dec 31, 2022.
• Puma, a German multinational corporation, appointed Arne Freundt after its CEO Bjorn Gulden resigned from the post to head Adidas.

About Mr Bjorn Gulden :

• Gulden, a 57-year-old Norwegian who was once a professional soccer and handball player.
• He has been Puma’s CEO since 2013.
• He worked at Adidas as its senior vice president of apparel and accessories from 1992 to 1999.
• He also has served as CEO of Danish jewellery brand Pandora, managing director of footwear retailer Deichmann and president of Rack Room Shoes and is board chairman at Danish food retailer Selling Group.

About Adidas :

• Founded: 18 August 1949
• Headquarters: Herzogenaurach, Bavaria, Germany
• It is the largest sportswear manufacturer in Europe, and the second largest in the world, after Nike

CURRENT AFFAIRS: DEFENCE NEWS

Indian Navy participates Malabar Naval Exercise in Japan

• India is participating in 26th International Malabar Naval Exercise in Yokosuka of Japan.
• The exercise is scheduled to be held from November 8 to 18,2022.
• Australia, Japan, and the United States of America (USA) are also participating in the Malabar Naval Exercise.
• 2022 marks the 30th anniversary year of Exercise MALABAR.

Key Highlights :

• The participating Indian Naval Ships Shivalik and INS Kamorta are indigenously designed and form part of the Indian Navy’s Eastern Fleet based at Visakhapatnam, Andhra Pradesh (AP).
• The Eastern Fleet commander, Rear Admiral Sanjay Bhalla will have operational discussions with the commander of the US Seventh Fleet and Commander Escort Force 3 (JMSDF) as part of Malabar-22.
• The Indian Navy will also participate in the International Fleet Review (IFR) being hosted in the first week of November to commemorate the 70th anniversary of the Japanese Maritime Self-Defence Force (JMSDF).

About Malabar Exercise :

• The MALABAR exercise was initiated in 1992 between the navies of India and the United States.
• Australia was included as a regular member of Ex Malabar in 2020

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

ISRO tests rocket engine developed by startup Agnikul Cosmos

• The India Space Research Organisation (ISRO) has successfully conducted a hot test of the Agnilet – single piece, fully 3d printed, 2nd stage semi cryo rocket engine developed by Agnikul Cosmos Private Limited, an aerospace startup.
• The hot test was conducted by firing the Agnilet Engine at its Vertical Test Facility, Thumba Equatorial Rocket Launching Station (TERLS), Thiruvananthapuram, Kerala.
• The company has also unveiled Rocket Factory- 1, the country’s first-ever rocket facility for large-scale printing of such rocket engines at the IIT Madras Research Park.

About Agnilet :

• Agnilet Engine is a regeneratively cooled 1.4 kN semi-cryogenic engine, working at a chamber pressure of 8 bar(a) using Liquid oxygen and Aviation Turbine Fuel (ATF) as propellants.
• This engine is realized through state-of-the-art 3D printing technology and the material of construction is INCONEL-718.
• The test was carried out as part of an MOU signed between ISRO and M/s Agnikul Cosmos Pvt. Ltd. to provide the opportunity for Indian space start-ups to use facilities of ISRO through IN-SPACe  (Indian National Space, Promotion and Authorisation Centre).

About Agnikul Cosmos Private Limited :

• Founded: 2017
• Headquarters: Chennai, Tamil Nadu
• CEO: Srinath Ravichandran
• AgniKul Cosmos Private Limited is an Indian aerospace manufacturer based in the National Center for Combustion R&D (NCRD) of IIT Madras, Chennai.

About ISRO :

• Founded: 15 August 1969
• Headquarters: Bangalore, Karnataka, India
• Chairman: S Somanath
• ISRO is the national space agency of India, operating under the Department of Space (DOS).

Daily CA on November 11:

• National Education Day 2022 is observed on the 11th of November 2022.
• The 18th International Telemedicine Conference is being hosted by the Kerala Chapter of the Telemedicine Society of India (TSI) and Amrita Hospital in Kochi.
• Prime Minister Gati Shakti Multimodal Waterways Summit will be launched by Union Minister Sarbananda Sonowal in Varanasi, Uttar Pradesh, at the Deendayal Hastkala Sankul (Trade Centre and Museum), the PM Gati Shakti Multimodal Waterways Summit will take place.
• According to Morgan Stanley, India is on track to become the world’s third-largest economy by 2027, surpassing Japan and Germany, and to have the third-largest stock market by 2030, thanks to global trends and important investments in technology and energy.
• The annual “Asia’s Power Businesswomen” list, which includes 20 women from the Asia-Pacific area, has been released by Forbes Asia.
• According to the QS Asia University Rankings 2023, the Indian Institute of Technology (IIT) Bombay offers the greatest education in Southern Asia, with IIT Delhi coming in second.
• The State of Food and Agriculture (SOFA) is one of the UN Food and Agriculture Organization’s yearly flagship reports (FAO).
• Glaciers at numerous UNESCO World Heritage sites, including Yellowstone and Kilimanjaro National Park, would certainly vanish by 2050, the UN organization warned, urging countries to act quickly to safeguard the rest.

• Max Life Insurance Company Ltd. has announced a life insurance product distribution tie-up with Tacterial Consulting Private Limited (Ditto). 
• The Reserve Bank of India (RBI) has granted ftcash, a startup in Small and Medium Enterprise (SME) lending, a license to set up a non-banking financial company (NBFC). 
• The Asian Infrastructure Investment Bank (AIIB) and the Global Energy Alliance for People and Planet (GEAPP) announced a collaboration and strategic investment partnership for mobilizing up to $1 billion for the financing of green energy transition and renewable energy projects, in both the public and private sectors.
• The government body for energy efficiency Bureau of Energy Efficiency (BEE) has signed a memorandum of understanding (MoU) with the Small Industries Development Bank of India (SIDBI) for Micro Small & Medium Enterprise (MSMEs).
• According to data from the Association of Mutual Funds in India (AMFI), Maharashtra, New Delhi, and Goa have the highest mutual fund (MF) penetration in India, due to high-income levels, better literacy rates, and high inflows from corporates and net worth individuals. (HNIs).
• All India Rubber Industries Association (AIRIA) has elected Mr. Ramesh Kejriwal of India Oil Seals and Synthetic Products, Kolkata, as its new president for the year 2022-23.
• Justice Shri Dhananjaya Yashwant Chandrachud took oath as the 50th Chief Justice of India (CJI) after over 6 years as a judge of the Supreme Court.
• GSMA (Global System for MobileAssociation), a global organization covering mobile ecosystems across countries, has elected Mr. Gopal Vittal, chief executive of Bharti Airtel Group, as deputy chair of the association’s board of directors for a two-year term, beginning 1 January 2023 through 31 December 2024.
• Adidas AG appointed former Puma Societas Europaea chief executive officer (CEO) Mr. Bjorn Gulden as its next CEO effective Jan.1, 2023.
• India is participating in 26th International Malabar Naval Exercise in Yokosuka of Japan.
• The India Space Research Organisation (ISRO) has successfully conducted a hot test of the Agnilet – single piece, fully 3d printed, 2nd stage semi cryo rocket engine developed by Agnikul Cosmos Private Limited, an aerospace startup.