Daily Current Affairs December 03 & 04 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

RBI and Bank of England Ink MoU for Collaboration and Information Sharing on CCIL

• The Reserve Bank of India (RBI) and the Bank of England (BoE) signed a Memorandum of Understanding (MoU) for cooperation and information exchange regarding the Clearing Corporation of India Ltd. (CCIL).
• Objective of the MoU : To encourage the European Securities and Markets Authority (ESMA) to reconsider recognizing at least one of the Indian central counterparties (CCPs).
• The MoU establishes a framework for the BoE to rely on the regulatory and supervisory activities of the RBI, ensuring the stability of the UK financial system.
• The agreement highlights the significance of cross-border cooperation to facilitate international clearing activities and reflects the BoE’s commitment to deference to other regulators’ regimes.

Key Highlights :

• This MoU comes against the backdrop of ESMA withdrawing recognition for 6 CCPs from India – CCIL, Indian Clearing Corporation Limited., NSE Clearing Ltd., Multi Commodity Exchange Clearing Ltd., India International Clearing Corporation, and NSE IFSC Clearing Corporation Ltd. with effect from April 30, 2023, as certain conditions under the European Market Infrastructure Regulation (EMIR) were not met.
• According to industry experts, ESMA may review its stance with the RBI signing the agreement with the BoE.
• According to ESMA’s statement on October 31, 2022, third-country CCPs (TC-CCPs), including CCIL, are no longer permitted to provide services to clearing members and trading venues established in the European Union.
• CCIL had obtained recognition as a “TC-CCP” under the “EMIR”, consequent upon recognition of India as an equivalent regime by European Commission’s decision dated December 15, 2016.
• The recognition of CCIL as a “TC-CCP” was effective from March 29, 2017.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi Sankar

SEBI Grants Approval to Jana Small Finance Bank for IPO                                         

• Jana Small Finance Bank, backed by TPG Capital, has received approval from the Securities & Exchange Board of India (SEBI) for its initial public offering (IPO).

Key Highlights :

• The IPO comprises a fresh issue of equity shares worth Rs 575 crore with a face value of Rs 10 each.
• Additionally, there is an offer for sale of up to 4.05 million shares by existing shareholders and promoters.
• Jana Small Finance Bank, upon successful listing, will become the 7th small finance bank (SFB) to be listed on the stock exchange.
• The already listed small finance banks include AU Small Finance Bank, ESAF Small Finance Bank, Equitas Small Finance Bank, Suryoday Small Finance Bank, Ujjivan Small Finance Bank, and Utkarsh Small Finance Bank.
• These banks are among the 12 licensed by the Reserve Bank of India (RBI).
• The net proceeds from the IPO will be utilised for augmenting Jana Small Finance Bank’s tier–1 capital to meet its future capital requirements.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

About Jana Small Finance Bank :

• Commenced operations : March 28, 2018
• Headquarters : Bangalore, India
• CEO: Ajay Kanwal.

BharatPe Achieves Ebitda Positivity for the First Time in October, Achieves Annual Recurring Revenue (ARR) of Rs 1,500 Crore                          

• Fintech major BharatPe turned Ebitda-positive in October and clocked an annualised revenue of Rs 1,500 crore, up 31% from the year-ago period, on the back of a significant growth in lending and payments business.
• The company also reduced its cash burn, which was averaging Rs 60 crore a month in FY23, to attain a positive Ebitda.
• EBITDA, or earnings before interest, taxes, depreciation, and amortization, is an alternative measure of a company’s overall financial performance.
• In October,2023 BharatPe facilitated loans exceeding Rs 640 crores for its merchants in partnership with its NBFC partners, a year-on-year growth of 36 percent. BharatPe facilitated loans totaling over Rs 12,400 crores since its foray into this segment in late 2019.
• BharatPe also recorded a monthly Total Payments Volume (TPV) of over Rs 14,000 crore across its payment products in October.

About BharatPe :

• Founded : 2018
• Headquarters : New Delhi, Delhi, India
• CEO: Nalin Negi
• BharatPe is an Indian fintech company that sells digital payment and financial services to small merchants and Grocery stores

Tata AIG General Insurance Company Launches ‘Health Supercharge’ for Comprehensive Well-being Coverage                            

• TATA AIG General Insurance Company Limited introduced “Health Supercharge” with the aim of offering a fivefold enhancement in health insurance coverage, addressing the dynamic nature of health-related uncertainties.
• The new plan caters to the healthcare needs of families residing in Tier I to Tier IV locations, ensuring inclusivity across various geographical segments.
• Tata AIG Health Supercharge offers a sum insured ranging from ₹5 lakhs to ₹20 lakhs.

Key Highlights :

• Plan Variants and Optional Benefits : Customers can choose from two plan variants, namely the Value Plan and Geo Plan, based on their geographical location.
• Additional optional benefits are available to tailor coverage according to individual preferences.
• Extensive Hospital Network : With a network comprising over 10,000 hospitals nationwide, the company ensures policyholders widespread access to quality healthcare, presenting a diverse array of choices to meet their medical requirements.

Features of Tata AIG Health Supercharge comprise:

• 5X enhanced coverage bonus: This plan elevates coverage levels with a 5X supercharge bonus, providing comprehensive protection for families. With each renewal, a bonus of 50% of the expiring policy’s base sum insured is offered, accumulating up to a maximum bonus of 500 percent of the base sum insured in any policy year, regardless of claims.
• Persistent young family discount: Families under 40 years old at the initiation of their first policy enjoy an additional five percent discount, applicable not only at the outset but also upon policy renewals. This makes health insurance more affordable for young families, with discounts unaffected by claims.
• Tailored premiums: Specifically designed to accommodate Tier III and Tier IV populations, as well as the economically accessible customer segment in Tier I and Tier II cities.
• Customisation options: The policy provides flexible options with two plan variants (Value Plan & Geo Plan) and optional benefits, including unlimited restoration and a reduction in the Pre-Existing Disease (PED) waiting period for specific ailments.
• In-built wellness services and wellness program: The plan includes inherent wellness services and a wellness program, enabling customers to actively promote and maintain their overall health and well-being.
• Annual preventive health check-up: Insured individuals can access a preventive health check-up once per policy year, regardless of claims, by paying an additional premium.

About TATA AIG General Insurance Company :

• Established : 2001
• Headquarters : Mumbai, Maharashtra
• MD & CEO : Neelesh Garg
• Tata AIG General Insurance Company Limited is an Indian general insurance company and a joint venture between the Tata Group and American International Group (AIG).
• Tata Group holds a 74% stake in the insurance venture with AIG holding the balance of 26%.

CURRENT AFFAIRS: NATIONAL NEWS

World’s first portable hospital ‘Aarogya Maitri Aid Cube’ unveiled in Gurugram

• The World’s first portable hospital, ‘Aarogya Maitri Aid Cube’ was unveiled in
• Designed indigenously under the Project ‘BHISHM’, the modular trauma management and aid system is made up of 72 detachable mini-cubes, each being a specialized station for emergency response and humanitarian efforts.
• It can handle bullet injuries, burns, head, spinal and chest injuries, minor surgeries, fractures and major bleeding.
• It can treat as many as 200 patients.
• These cubes are light and portable, and can be rapidly deployed anywhere, from airdrops to ground transportation.
• Air Vice Marshal Tanmay Roy that the mobile hospital is part of India’s message of health for all and assisting other nations during their times of crises.

PM launches Green Credit Initiative at COP28 climate conference aimed at reshaping global environmental policies

• Prime Minister Narendra Modi launched the ‘Green Credit Initiative,’ a pathbreaking program aimed at reshaping global environmental policies.
• He also launched the official portal of the Green credit initiative at COP28.
• The Prime Minister highlighted the limitations of the current carbon credit system, influenced by commercial interests and lacking a sense of social responsibility, paving the way for a new philosophy embodied in the ‘Green Credit’ concept.

Key Highlights

• The ‘Green Credit Initiative’ has garnered international support, with leaders expressing enthusiasm and commitment to the cause.
• Ulf Kristersson, Prime Minister of Sweden, praised the initiative, citing Sweden’s success with the Climate Leap, reducing climate emissions by 3.3 million tonnes per year through collective action.
• Filipe Nyusi, President of Mozambique, aligned the ‘Green Credit Initiative’ with Mozambique’s sustainable forest management initiative, inviting global collaboration.
• He urged inclusion on the Global Green Credit web platform, set to launch, and extended an invitation to join the international conference on forest conservation in Washington DC.
• Charles Michel, President of the European Council, lauded Modi’s leadership and expressed the European Union’s commitment to ambitious climate goals. Mr Michel emphasized the importance of robust, transparent, and impactful green credit systems and advocated for reforming global financial institutions to meet current challenges.
• The program’s overarching objective is to leverage a competitive market-based approach, motivating a diverse array of stakeholders to actively engage in voluntary environmental actions.
• This departure from the conventional focus on carbon emissions is widely acknowledged as a paradigm shift, recognizing and incentivizing a broader spectrum of efforts, including water conservation and waste management.

Mines Ministry Launches First Ever Auction of Critical and Strategic Minerals

• Union Coal and Mines Minister Pralhad Joshi launched the first-ever critical minerals auction process.
• The first tranche e-auction of Critical & Strategic Minerals was launched by Union Minister of Parliamentary Affairs, Coal and Mines, Shri Pralhad Joshi here on 29th November, 2023.
• A total of 20 critical mineral blocks will be auctioned in the first tranche, out of which 16 mineral blocks are put up for grant of Composite Licence and four mineral blocks for grant of Mining Lease.
• SBI Capital Markets Limited and MECL are assisting the Ministry of Mines in conducting the auction process as a Transaction Advisor and Technical Advisor, respectively.
• The Government is committed to bring more blocks of critical mineral blocks to auction in a phased manner.
• It will also help boost India’s economy, enhance national security and transition to a clean energy future.
• The auction will be held online in two stages.
• Royalty rates of critical minerals have been rationalized to encourage greater participation in these auctions.
• The eligible bidder will be selected based on the highest percentage of the value of the mineral dispatched quoted by them.
• Critical minerals fulfil the needs of sectors like renewable energy, defence, agriculture, pharmaceutical, high-tech electronics, telecommunications, transport, etc.
• In August 2023, the Government notified 24 minerals as Critical and Strategic minerals.

Indian Railways allows MNCs to deploy indigenous Kavach anti train collision system on network

• India’s ability to deploy automatic train collision avoidance systems – Kavach – is expected to get a fillip with global companies getting approvals to install it on the national transporter.
• Germany’s Siemens and Japan’s Kyosan are the two new approved Kavach deployment companies.
• Railways Minister Ashwini Vaishnaw Kavach deployment will increase to 5000 kilometers (kms) per annum in the financial year 2025-26, up from 1500 kms annually.
• Tenders to install Kavach over 3000 kms were awarded in December last year.
• Progress is as per schedule with 98% Radio surveys on the routes have been completed till now.
• According to Vaishnaw, bids to install Kavach on another 2500 kms of railway networks will soon be awarded.
• Medha Servo Drives, HBL Power Systems, and Kernex Microsystems were the only three companies with rights to deploy Kavach till now.

About KAVACH

• The KAVACH is an indigenously developed ATP system by Research Design and Standards Organisation (RDSO) in collaboration with Indian industry.
• KAVACH is meant to provide protection by preventing trains to pass the signal at Danger (Red) and avoid collision.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Nepal Achieves Milestone as the First South Asian Nation to Legally Recognize Same-Sex Marriage                            

• Nepal has become the first South Asian country to officially register same-sex marriage.
• The marriage between 36-year-old Ram Bahadur (Maya) Gurun and Surendra Pandey has been registered in Nepal.
• The registration of same-sex marriage in Nepal is facilitated by an interim order from the Supreme Court, which supports the legal recognition of marriages between same-sex couples.

Key Highlights :

• The couple, Ram Bahadur (Maya) Gurun and Surendra Pandey, have been in a relationship for 9 years.
• The couple initially got married according to Hindu rituals in 2016, reflecting a long-standing commitment to each other.
• The marriage registration certificate has been issued in compliance with the Supreme Court’s interim order and following the instructions from relevant government authorities.
• Taiwan is the only other country to legalise same-sex marriage in Asia, where societies remain largely conservative.

About Nepal :

• President : Ram Chandra Poudel
• Prime Minister : Pushpa Kamal Dahal
• Capital : Kathmandu
• Currency : Nepalese rupee

18 Countries Back New Global Guidelines, Crafted by the US and UK, to Enhance Cybersecurity in Artificial Intelligence (AI)

• 18 countries endorsed new global guidelines, developed by the United States (US) and the United Kingdom (UK), to make artificial intelligence (AI) “secure by design” and “raise the AI cybersecurity bar.
• The Guidelines for Secure AI System Development deal with secure design, development, deployment and operation and maintenance of AI systems.

Key Highlights :

• The guidelines were formulated by the UK’s National Cyber Security Centre (NCSC) and the US’s Cybersecurity and Infrastructure Security Agency (CISA).
• They aim to “raise the cybersecurity levels of artificial intelligence and help ensure that it is designed, developed, and deployed securely.
• Agencies from 17 other countries have confirmed they will endorse and co-seal the new guidelines.
• These comprise agencies from the US, UK, France, Germany, Australia, Canada, Norway, Israel, Japan, South Korea, Singapore, Italy, New Zealand, Poland, Chile, Czechia, Estonia and Nigeria.
• The pact covers all G7 countries, the grouping of advanced economies which account for about 30% of the global gross domestic product (GDP).
• The guidelines are aimed at all stakeholders, including data scientists, developers, managers, decision-makers and risk owners.
• They are expected to help AI developers make informed cybersecurity decisions along each step of their development process.
• The European Union (EU) has already taken steps in AI regulation, being the first to adopt legislation with the EU AI Act passed by the European Parliament in June.

CURRENT AFFAIRS : STATE NEWS

Delhi Government School Pioneers First-of-its-Kind Biodiversity Park to Foster Ecosystem Education and Green Practices

• A Delhi government school has established the first-of-its-kind biodiversity park to promote the ecosystem and provide students with hands-on learning experiences in agriculture, farming, nature, and greenery.
• The biodiversity park is located at Sarvodaya Kanya Vidyalaya in Defence Colony, Delhi.
• Open to the public, people can visit the park during the winter season.
• The park features a diverse range of plant life, including native Indian flowers, various rose varieties, an Amrapali mango tree, different types of curry leaves, lemon trees, and plants imported from Telangana and South Africa.

Key Highlights :

• The initiative to create the biodiversity park is a collaboration between the Delhi Department of Education (DoE) and the tourism department.
• This biodiversity park is the first-of-its-kind in Delhi schools, showcasing a novel approach to integrating environmental education and practical learning.
• The tourism department is responsible for executing the project, highlighting inter-departmental cooperation for educational and environmental initiatives.
• The park is set to have 113 different species of plants suitable for winter, summer, and all-season growth.
• Biosphere reserves are the protected areas meant for the conservation of plants and animals.
• It also restores the traditional life of the tribals living in that vicinity.
• They conserve the biodiversity of that area.

About Delhi :

• Governor : Vinai Kumar Saxena
• Chief Minister : Arvind Kejriwal

Nagaland Gears Up for the Commencement of the 24th Hornbill Festival 2023 at Naga Heritage Village, Kisama

• The 24th edition of the Hornbill Festival has commenced at Naga Heritage Village Kisama.
• The United States of America (USA), Germany, and Colombia are the Country Partners, and Assam is the Partner State for the 24th Hornbill Festival.
• Governor of Nagaland, La Ganesan, and Chief Minister Neiphiu Rio were the Chief Guests at the festival.
• The main hornbill stage will showcase 40 bands and acts, featuring a total of 800 artists.
• Bands from Germany, the United States of America (USA), Colombia, and South Korea are participating in the festival.
• For the first time, there will be an exhibition featuring Mithun and Tenyi Vo.
• Tenyi Vo is a native breed of pig from rural Nagaland, and Mithun is the State animal of Nagaland.
• Nagaland Beekeeping and Honey Mission are launching the first ‘Bee tourism’ to showcase Nagaland’s rich beekeeping tradition.
• Highlights of the 10 days festival includes daily performances of 18 cultural troupes, sell of locally made products of Nagaland, handloom & handicrafts, artworks, Agri & allied, horticulture, traditional stone pulling ceremony, film festival, photo fest, off road, night Carnivals, Dzukou experience, village or heritage walk, kids carnival, sports fest and many more. Extended events of the Hornbill Festival in locations like Khezhakeno, Zunheboto, Doyang, and Peren are also being held simultaneously.

About Nagaland :

• Governor : La. Ganesan
• Chief Minister : Neiphiu Rio
• Capital : Kohima
• National Park : Intanki National Park
• Wildlife Sanctuaries : Fakim Wildlife Sanctuary, Puliebadze Wildlife Sanctuary, Rangapahar Wildlife Sanctuary

Meta & Karnataka government collaborate for online safety training                       

• Meta, the parent company of Instagram and Facebook, has entered into a two-year partnership with the Karnataka government with an aim to focus on digital education and online user safety for students in Karnataka.
• The Karnataka government is working on launching a comprehensive blueprint to equip students with digital skills, enhancing their employability.

Key Highlights :

• Under the partnership, Meta will collaborate with the IT-BT Ministry to jointly develop a WhatsApp chatbot for delivering information services across various government departments.
• The primary objectives include streamlining citizen communication and creating a digital safety chatbot for citizen awareness.
• In July 2023, the state government deployed a chatbot for the first time to receive applications from citizens for its flagship Gruha Lakshmi scheme.
• As part of the collaboration, Meta will conduct awareness sessions in 100 colleges and universities across Karnataka.
• The awareness sessions and content curation will be aimed at the target audience between 18-24 years of age, focusing on digital awareness.

About Karnataka :

• Governor : Thawar Chand Gehlot
• Chief Minister : Siddaramaiah
• Capital : Bangalore
• National Park : Bandipur National Park, Nagarhole National Park, Mudumalai National Park

Odisha Chief Minister Naveen Patnaik Unveils Ama Bank for Banking Services via Customer Service Points (CSP)               

• Odisha Chief Minister (CM) Shri Naveen Patnaik has inaugurated Ama Bank, a banking initiative aimed at providing services through Customer Service Points (CSP).
• Ama Bank is part of the financial inclusion program and aims to cover 4,373 unbanked gram panchayats in Odisha.

Key Highlights :

• The initiative will be implemented in phases, with 750 panchayats receiving banking services through CSP outlets in the first phase.
• The remaining panchayats are scheduled to be covered by March 2024.
• The CSP Plus banking outlets will play a crucial role in empowering people, especially in providing credit for small businesses.
• These outlets are expected to offer 15 banking services, and special provisions will be made to provide doorstep services to specific groups such as the elderly, differently-abled persons, and pregnant women.
• Approximately 65% of the total 6,798 gram panchayats in Odisha lack brick-and-mortar bank branches.
• The Odisha government in collaboration with 6 public sector banks has come up with the “Ama Bank ” scheme for providing banking services to all unbanked gram panchayats.
• As part of the initiative, the government will provide rent-free banking space for 5 years, facilitating the establishment and sustainability of Ama Bank outlets.

About Odisha :

• Governor : Ganeshi Lal
• Chief Minister : Naveen Patnaik
• Capital : Bhubaneswar
• National Park : Bhitarkanika National Park,
• Wildlife Sanctuaries : Gahirmatha Marine Wildlife Sanctuary, Chandaka Dampara Wildlife Sanctuary
• Ramsar Sites : Ansupa Lake, Bhitarkanika Mangroves, Chilika Lake, Tampara Lake

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Veera Rana Creates History as Second Female Bureaucrat Appointed Chief Secretary of Madhya Pradesh                              

• Senior Indian Administrative Service (IAS) officer Veera Rana, from the 1988 batch, has been appointed the Chief Secretary of Madhya Pradesh (MP) as an additional charge.
• Veera Rana’s appointment marks the 2nd time a woman officer has taken on the role of Chief Secretary in Madhya Pradesh.
• The first woman to hold this position was Nirmala Buch, a 1960 batch officer, during the BJP government in 1991.
• She was chief secretary till January 1, 1993.
• Iqbal Singh Bains, the current Chief Secretary of Madhya Pradesh, is set to retire from government service on November 30, 2023.

About Veera Rana :

• Veera Rana was born on March 26, 1964, in Uttar Pradesh.
• She has held the portfolios of Chief Electoral Officer, Sports and Youth Welfare, Academy of Administration and Department of Cottage and Village Industries.
• She is currently the chairperson of the Madhya Pradesh Board of Secondary Education (MPBSE) and holds the additional charge of agriculture production commissioner.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

SBI Mutual Fund Receives RBI Approval for Acquisition of 9.99% Stake in Karur Vysya Bank

• The Reserve Bank of India (RBI) has given its approval to SBI Mutual Fund (SBI MF) for acquiring an aggregate holding of up to 99% of the paid-up share capital or voting rights of private sector lender Karur Vysya Bank Limited.
• The approval comes with stringent conditions to ensure regulatory compliance and adherence to relevant laws and guidelines.

Compliance Requirements :

• SBI MF is required to adhere to provisions of the Banking Regulation Act, 1949, RBI’s Master Direction, and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies (issued on January 16, 2023, and subsequent amendments).
• Compliance with provisions of the Foreign Exchange Management Act, 1999, and regulations issued by the Securities and Exchange Board of India (SEBI) is also mandatory.

Key Highlights :

• Time-bound Shareholding Acquisition : The approval is contingent on SBI MF acquiring a major shareholding within one year from the date of RBI’s letter.
• Failure to do so would result in the cancellation of the approval.
• Limitations on Aggregate Holding : SBI MF is mandated to ensure that its aggregate holding in Karur Vysya Bank does not exceed 9.99% of the paid-up share capital or voting rights at any given time.
• Approval for Holding Increase : If the aggregate holding falls below 5%, SBI MF needs prior approval from RBI to increase it to 5% or more of the paid-up share capital or voting rights of Karur Vysya Bank.
• Regulatory Oversight : The regulatory conditions underscore the importance of regulatory oversight and compliance in the acquisition of stakes in banking companies.

About Karur Vysya Bank :

• Established : 1916
• Headquarters : Karur, Tamil Nadu
• MD & CEO : Mr. Ramesh Babu
• Tagline : Smart way to Bank
• Karur Vysya Bank is a Scheduled Commercial Bank.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

NASA Unveils Initiative to Send ISRO-Selected Indian Astronaut to International Space Station by 2024

• US space agency National Aeronautics and Space Administration (NASA) plans to train an Indian astronaut for a mission to the International Space Station (ISS) by the end of 2024.
• Bill Nelson, the administrator of NASA, made this announcement during his visit to Delhi, India.
• A major collaboration between India and the United States is the NISAR satellite, set to be launched in the first quarter of 2024.

Key Highlights :

• India is planning its space station, named Bharatiya Antariksha Station, to be built and operated by the Indian Space Research Organisation (ISRO).
• Expected to be completed by 2035, as per Prime Minister Modi’s call to ISRO scientists.
• Prime Minister Modi urged ISRO scientists to set up an Indian Space Station by 2035 and send an Indian to the moon by 2040.

Details about Space Station :

• The Indian space station will be smaller than the International Space Station (ISS).
• It will have a mass of 20 tonnes (ISS – 450 tonnes and Chinese Tiangong Space Station – 100 tonnes) and will be used for microgravity experiments.
• It will orbit Earth at an altitude of around 400 km.

NISAR Satellite Details :

• NISAR, or NASA-ISRO Synthetic Aperture Radar, is a joint project between NASA and ISRO.
• When it is launched, NISAR will be the first radar imaging satellite to use dual frequencies.
• The mission will survey all of Earth’s land and ice-covered surfaces every 12 days.
• It has a three-year duration.
• NISAR is a Low Earth Orbit (LEO) observatory that will measure Earth’s changing ecosystems, dynamic surfaces, and ice masses.
• The selection will likely be from among the four persons who have undergone basic space astronaut training in preparation for the Gaganyaan mission.
• The science objectives for the two-week long mission will be decided by India.
• The first space travel by an Indian citizen after Rakesh Sharma’s pioneering journey in 1984 is likely to take place next year.
• NASA plans to decommission the ISS by 2031.

About NASA :

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

CURRENT AFFAIRS: BUSINESS NEWS

Coal production from commercial coal mines remain around 12 million tonnes in November 2023

• The Coal production from commercial coal mines remained around 12 million tonnes in November this year, with a growth of 37 per cent compared to last year.
• Union Coal Ministry, the average daily coal dispatch from such mines is also the highest ever with 4.3 lakh tonnes per day.
• Coal production and dispatch from captive and commercial coal blocks has shown a remarkable growth during April to November this year.
• The total coal production from these commercial coal mines during the same period was around 83 million tonnes, while the total coal dispatch was over 89 million tonnes.

GST revenue collection for November stands at around Rs 1.68 lakh crore

• The gross Goods and Services Tax, GST revenue collection in the month of November this year stood at around one lakh 68 thousand crore rupee
• The revenue for the month of November is 15 per cent higher than the GST revenue in the same month of last year and the highest for any month year-on-year during this financial year.

Key Highlights

• Finance Ministry, out of the total GST revenue collected in November, Central Goods and Services Tax, CGST collection is 30 thousand 420 crore rupees, State Goods and Services Tax, SGST is 38 thousand 226 crore rupees, Integrated Goods and Services Tax, IGST is around 87 thousand crore rupees and and cess is 12 thousand 274 crore rupees.
• The Ministry added that it is for the sixth time that the gross GST collection has crossed the 1.60 lakh crore rupees mark in Financial Year 2023-24.
• The Ministry further added that GST collection is also higher by 11.9 per cent year on year for Financial Year 2023-24 upto November this year.

India’s foreign exchange reserves increase by 2.538 billion US dollar to 597.935 billion US dollar

• The Reserve Bank of India (RBI), India’s foreign exchange reserves increased by 2.538 billion US dollar to 597.935 billion US dollar for the week ended 24th November.
• In the previous reporting week, the overall reserves had jumped 5.077 billion US dollar to 595.397 billion US dollar.
• According to the Weekly Statistical Supplement released by the RBI for the week ended 24th November, the foreign currency assets, a major component of the reserves, increased by 2.14 billion US dollar to 528.531 billion US dollar.
• The apex bank Gold reserves were up 296 million US dollar to 46.338 billion US dollar during the week.
• The Special Drawing Rights (SDRs) were up 87 million US dollars to 18.218 billion US dollars.
• According to the data from the RBI, India’s reserve position with the IMF rose 14 million US dollar to 4.848 billion US dollar in the reporting week.
• In October 2021, the country’s foreign exchange kitty had reached an all-time high of 645 billion US dollars.
• The reserves took a hit as the central bank deployed the reserves to defend the rupee amid pressures caused majorly by global developments since last year.

CURRENT AFFAIRS: SPORTS NEWS

Vaishali Rameshbabu makes history by becoming India’s third Female Grandmaster

• In a historic achievement for Indian chess, Vaishali Rameshbabu secured her grandmaster title by crossing 2,500 International Chess Federation (FIDE) ranking points during the IV El Llobregat Open in Spain.
• Vaishali has defeated Turkish Tamer Tarik Selbes (2238) in the second round to surpass rating and has started the tournament with two consecutive wins.
• She has now become the third Indian female player to achieve this prestigious title, joining the elite company of Koneru Humpy and Harika Dronavalli.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day of Persons with Disabilities 2023 Theme and History: 3rd December

• International Day of Persons with Disabilities 2023 is observed on the 3rd of December 2023.
• The theme for 2023 is ‘United in action to rescue and achieve the sustainable development goals for, with and by persons with disabilities’.
• In 1976, the UN General Assembly decided that from 1981 International Day of Persons with Disabilities will be celebrated globally.
• The UN announced 3rd December as the official date for celebrating the International Day of Persons with Disabilities.
• The first Paralympic games were hosted in 1960.
• In 1992 The International Day of People with Disability was proclaimed by the United Nations.
• In 2013 Australia was the first country to pass the National Disability Insurance Scheme for the welfare of people with disabilities.
• Later many countries announced reservations and Quotas for disabilities in Government and Private jobs.
• The Americans with Disabilities Act was created to define the rights of people with disabilities and the design standards that businesses and municipalities must incorporate to comply with the law.

Indian Navy Day: 4th December

• Indian Navy Day 2023 is observed on the 4th of December 2023.
• The Indian Navy was established by the East India Company in 1612.
• Indo-Pakistan took place in 1971.
• During the war, Pakistan launched an attack on December 3 on Indian air bases.
• In response to their offensive attacks, the Indian Navy planned an attack on the night of December 4 & and 5, as Pakistan didn’t have the aircraft to carry out bombings.
• There were hundreds of Pakistani Navy personnel killed during the attack. Commodore Kasargod Pattanashetti Gopal Rao led the whole operation of the Indian Navy.

Daily CA One-Liner: December 3 & 4

• The World’s first portable hospital, ‘Aarogya Maitri Aid Cube’ was unveiled in
• Prime Minister Narendra Modi launched the ‘Green Credit Initiative,’ a pathbreaking program aimed at reshaping global environmental policies
• Union Coal and Mines Minister Pralhad Joshi launched the first-ever critical minerals auction process
• India’s ability to deploy automatic train collision avoidance systems – Kavach – is expected to get a fillip with global companies getting approvals to install it on the national transporter.
• The Coal production from commercial coal mines remained around 12 million tonnes in November this year, with a growth of 37 per cent compared to last year.
• The gross Goods and Services Tax, GST revenue collection in the month of November this year stood at around one lakh 68 thousand crore rupee
• The Reserve Bank of India (RBI), India’s foreign exchange reserves increased by 2.538 billion US dollar to 597.935 billion US dollar for the week ended 24th November
• In a historic achievement for Indian chess, Vaishali Rameshbabu secured her grandmaster title by crossing 2,500 International Chess Federation (FIDE) ranking points during the IV El Llobregat Open in Spain
• International Day of Persons with Disabilities 2023 is observed on the 3rd of December 2023.
• Indian Navy Day 2023 is observed on the 4th of December 2023.
• The Reserve Bank of India (RBI) and the Bank of England (BoE) signed a Memorandum of Understanding (MoU) for cooperation and information exchange regarding the Clearing Corporation of India Ltd. (CCIL).
• Jana Small Finance Bank, backed by TPG Capital, has received approval from the Securities & Exchange Board of India (SEBI) for its initial public offering (IPO).
• Fintech major BharatPe turned Ebitda-positive in October and clocked an annualised revenue of Rs 1,500 crore, up 31% from the year-ago period, on the back of a significant growth in lending and payments business.
• TATA AIG General Insurance Company Limited introduced “Health Supercharge” with the aim of offering a fivefold enhancement in health insurance coverage, addressing the dynamic nature of health-related uncertainties.
• Nepal has become the first South Asian country to officially register same-sex marriage.
• 18 countries endorsed new global guidelines, developed by the United States (US) and the United Kingdom (UK), to make artificial intelligence (AI) “secure by design” and “raise the AI cybersecurity bar.
• A Delhi government school has established the first-of-its-kind biodiversity park to promote the ecosystem and provide students with hands-on learning experiences in agriculture, farming, nature, and greenery.
• The 24th edition of the Hornbill Festival has commenced at Naga Heritage Village Kisama.
• Meta, the parent company of Instagram and Facebook, has entered into a two-year partnership with the Karnataka government with an aim to focus on digital education and online user safety for students in Karnataka.
• Odisha Chief Minister (CM) Shri Naveen Patnaik has inaugurated Ama Bank, a banking initiative aimed at providing services through Customer Service Points (CSP).
• Senior Indian Administrative Service (IAS) officer Veera Rana, from the 1988 batch, has been appointed the Chief Secretary of Madhya Pradesh (MP) as an additional charge.
• The Reserve Bank of India (RBI) has given its approval to SBI Mutual Fund (SBI MF) for acquiring an aggregate holding of up to 9.99% of the paid-up share capital or voting rights of private sector lender Karur Vysya Bank Limited.
• US space agency National Aeronautics and Space Administration (NASA) plans to train an Indian astronaut for a mission to the International Space Station (ISS) by the end of 2024.