BFSI & Economy

  • The Reserve Bank of India (RBI) has withdrawn the sale of Rs. 10,000 crores worth of government securities under Open Market Operations (OMO) scheduled for 23rd November this year.It is a view of the recent market developments and based on a fresh review of the current & evolving liquidity conditions.
  • The union govt. has raised import duty on crude palm oil to 30% (earlier 15%) and on refined oil to 40% (earlier 20%) in a bid to curb cheaper shipments and boost local prices for supporting farmers and refiners
  • The Union Finance Ministry has constituted task force to review Income Tax (IT) Act 1961 and draft new direct tax law in consonance with current economic needs. CBDT member Arbind Modi will be convener of task force. Chief Economic Adviser Dr. Arvind Subramanian will be its permanent Special Invitee.
  • The Union Cabinet chaired by the Prime Minister Narendra Modi has approved setting up of 15th Finance Commission (FC). It is a constitutional obligation to set up FC under Article 280 (1) of the Constitution.The Terms of Reference for 15th FC will be notified in due course of time. In terms of constitutional provisions, setting up 15th FC, its recommendations will cover five years commencing on April 1, 2020.
  • India ranked 51st among 63 countries on the IMD Talent Rankings in terms of ability to attract, develop and retain talent.
  • The State Bank of India (SBI) will use Blockchain Technology for smart contracts and Know Your Customer (KYC) from next month.A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions.  BankChain aims to reduce fraud and maximise efficiency, security and transparency in banking systems.
  • HSBC’s private-banking unit was fined a record $51 million over sales of structured products linked to Lehman Brothers in Hong Kong.
  • India has signed an over ₹630-crore loan agreement and a ₹13-crore grant agreement with the World Bank, in an attempt to increase its power generation capacity through renewable energy sources.
  • The Unique Identification Authority of India (UIDAI) has allowed banks to hire private data entry operators and enrolment machines to speed up the opening of Aadhaar enrolment centres at bank premises.
  • The IFC (International Finance Corporation) has come together with HDFC to create a USD 800 million fund for finance construction to boost affordable housing finance in India. The remaining amount of USD 600 million will be contributed by HDFC from its own resources.
  • The union cabinet has approved the creation of National Anti-Profiteering Authority (NAA) under GST, to ensure benefits of reduction in indirect tax rates are passed on to consumers.
  • The Union Cabinet has approved increase in carpet area of houses eligible for interest subsidy under Credit Linked Subsidy Scheme (CLSS) for Middle Income Group (MIG) under Pradhan Mantri AwasYojana (Urban). The purpose is to further enhance the scope, coverage and outreach of Scheme.
  • The Union Cabinet approved revision in salaries, gratuity, allowances, pension etc. of Judges of Supreme Court and High Courts and retired Judges of Supreme Court and High Courts. The decision follows implementation of recommendations of 7th Central Pay Commission in respect of Civil Servants.

Revision Notes

International

  • India asked the United Nations to declare 2018 as the International year of millets and promote it as nutrition-rich smart food across the world.
  • 21st November is World Television Day.The United Nations has designated this day, recognising that television plays a major role in presenting different issues that affect people.
  • 21st November is World Fisheries Day. On 21st November 1997, the working fishermen and women representing World Forum of Fish Harvesters & Fish Workers from 18 countries met at New Delhi and established the World Fisheries Forum (WFF) advocating for a global mandate of sustainable fishing practices and policies.
  • 20th November is Universal Children’s Day. This day was established in the year 1954 and is celebrated on November 20th each year to promote international togetherness, awareness among children worldwide, and improving children’s welfare.
  • The World Toilet Day is observed across the world on 19th November with an aim to motivate millions across the world on issues of sanitation
  • Popular singer, Beyonce has topped the list of the ‘World’s highest-paid woman in Music’ released by Forbes for 2017, with $105 million pretax. Adele stood second in the list, earning $69 million and Taylor Swift grabbed the third spot with total earnings of $44 million.
  • UN Women and the UN Development Programme (UNDP) in a report presented in Panama found Latin America and the Caribbean as the most violent region in the world for women.

GK Booklet

Sports

  • Indian captain Virat Kohli became the second Indian after Sachin Tendulkar to score 50 international centuries, registering his 18th Test ton against Sri Lanka in the first Test today
  • Shooter Shagun Chowdhary bagged a national champion crown at the 61st National Shooting Championship in New Delhi.
  • Olympic-medallist Sushil KumarSakshi Malik and Geeta Phogathave won the gold medal in their respective categories in the National Wrestling championship in Indore.
  • The fourth season of the revamped Indian Super League (ISL) football has begun in Kochi. There are 10 teams for the first time in the league’s history, with Bengaluru FC and Jamshedpur FC entering the fray
  • India’s tennis star Yuki Bhambri beat Ramkumar Ramanathan 4-6, 6-3, 6-4 to win the Pune Challenger tournament in Pune.

Science and Technology

  • The world’s fastest supersonic cruise missile, BrahMos was successfully flight-tested for the first time from the Indian Air Force’s fighter aircraft Sukhoi-30MKI against a sea-based target today. With this test, BrahMos is now capable of being launched from land, sea, and air. The missile, weighing 2.5 ton, is also the heaviest weapon to be deployed on India’s Su-30.
  • The ISRO (Indian Space Research Organisation) is going to launch the first rocket completely built by private sector in 2020-21, said chairman AS Kiran Kumar.A joint venture between ISRO and several companies would be aimed at covering the deficit in satellite and launch vehicle production.

National & Business

  • Indian Navy has inducted Shubhangi Swaroop as its first woman pilot. A native of Bareilly, Uttar Pradesh, Shubhangi was the first of the 328 cadets who passed out from the Indian Naval Academy, Ezhimala, Kannur.
  • Prime Minister Narendra Modi launched an all in one ‘Umang App’ at the Global Conference on Cyber Space, as an initiative to promote Digital India Program. UMANG stands for Unified Mobile Application for New-age Governance and can be downloaded by the people to avail various Government services.
  • The Cabinet Committee on Economic Affairs (CCEA) has approved four sub-schemes under Umbrella Scheme Integrated Child Development Services (ICDS). These four schemes include anganwadi services, programme for adolescent girls called Sabla, Child Protection Services and National Creche Scheme.
  • Former prime minister (14th) Manmohan Singh (85-year) will receive the Indira Gandhi Peace Prize for his leadership of the country & his achievements during the momentous 10 years (2004 to 2014).
  • The Telangana government has directed all public and private schools in the state to introduce Telugu as a compulsory subject from the next academic session.
  • The Indian Railways has decided to use Artificial Intelligence to prevent the possibility of signals failing, moving from a find-and-fix to predict-and-prevent approach.
  • Automobile giant Mahindra and Mahindra opened its new manufacturing plant in America’s ‘Motor City’ Detroit, which got its first automotive production facility in 25 years.
  • The first ever Namami Barak festival was held at Silchar in Assam. It was inaugurated by Assam Chief Minister Sarbananda Sonowal.
  • Home Ministry announced that under the Safe City plan, a robust emergency response system, as well as a police, verified public transport system will come into place.
  • The International Film Festival of India (IFFI) will have Bioscope Village this year at Panaji in Goa.
  • President Ram Nath Kovind has presented Standards to the 223 Squadron and the 117 Helicopter Unit of the Indian Air Force (IAF) at the Air Force Station, Adampur, Punjab.
  • The Union Govt. has given the approval to set up India’s first mega coastal economic zone (CEZ) at Jawaharlal Nehru Port (JNPT) along north Konkan region in Maharashtra.
  • India’s Manushi Chhillar (20-year) has won the coveted Miss World 2017 crown at a grand event in China.She was presented the crown by the last year’s Miss World winner Stephanie Del Valle (Puerto Rico) at the event in Sanya City Arena in China