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CURRENT AFFAIRS : BANKING & FINANCE

Public Sector Banks Gear Up to Raise Capital Through AT-1 and Tier-2 Bonds  

• Public Sector Banks (PSBs) have proposed raising ₹54,800 crore in FY25 through Additional Tier-1 (AT-1) and Tier-2 bonds.
• This amount is 37% higher than the ₹39,880 crore raised in FY24.

Key Highlights :

• AT-1 and Tier-2 Bonds Overview:Both AT-1 and Tier-2 bonds are regulatory capital instruments used by banks to fulfil capital adequacy requirements under Basel III norms.
• Tier-1 bonds are considered more risky due to the lack of a fixed maturity date, and they can be written off in cases of financial distress.
• Tier-2 bonds are generally considered lower risk compared to AT-1 bonds.
• Risk Profile:AT-1 bonds are seen as higher risk because they do not have a fixed maturity date and can be written off during financial distress.
• This makes them more volatile compared to Tier-2 bonds.
• AT-1 Bond Issuance:In FY25, only State Bank of India (SBI) and Canara Bank have issued AT-1 bonds totaling₹8,000 crore.
• Importance for Financial Institutions:These bonds are crucial for banks to meet regulatory capital adequacy ratios and manage their financial stability according to Basel III guidelines.

Canara HSBC Life Insurance Unveils OmniGen AI, a Pioneering Generative AI Solution for Enhancing Underwriting Risk Assessment  

• Canara HSBC Life Insurance introduced OmniGen AI, a first-of-its-kind Generative AI-driven solution, leveraging Amazon Web Services (AWS) Bedrock platform.
• The solution is designed to optimize risk evaluation and enhance the underwriting process.

Features of OmniGen AI:

• Acts as a Generative AI Co-Pilot for underwriters, helping to assess bundled information such as:
  • Underwriting guidelines and manuals.
  • Risk profile attributes.
  • Risk model outputs.
• Ensures precision, accuracy, and rationale in underwriting decisions while referencing underwriting manuals.
• Reduces processing time, enhances scalability, and eliminates human biases or oversight.
• Benefits in Risk Evaluation:Capable of analyzing multiple attributes to identify patterns and trends for better risk decisions.
• Uniformity in risk assessment minimizes errors and ensures faster policy issuance.
• Strengthens future outcome predictions for risks being insured.
• Technological Advancements:Utilizes Large Language Model (LLM) agents for automating complex underwriting processes, including fraud risk assessment.
• Provides accurate risk profiling with rationale and reasoning behind each decision.
• Combines machine learning with Generative AI to improve turnaround times (TAT).
• Customer-Centric Impact:Enhances the policy buying, servicing, and claims settlement experience for customers.
• Builds effective customer and business propositions by leveraging past experiences and insights.

About Canara HSBC Life Insurance :

• Established : 2008
• Headquarters :Gurgaon, Haryana, India
• MD &CEO : Anuj Mathur
• Canara HSBC Life Insurance is a joint venture:
  • Canara Bank: 51% shareholding.
  • HSBC Insurance (Asia Pacific) Holdings Ltd: 26% shareholding.
  • Punjab National Bank: 23% shareholding.

CURRENT AFFAIRS: NATIONAL NEWS

Centre Extends Ban on ULFA for Five Years Over Secessionist Activities

• The Ministry of Home Affairs (MHA) extended the ban on the United Liberation Front of Asom (ULFA) for five years for continuing to work to secede Assam from India and maintain links with other insurgent groups for extortion and violence, according to a notification issued by the ministry.
• The Indian government extended the ban on the United Liberation Front of Asom (ULFA) for five more years, citing its involvement in activities that threaten India’s sovereignty and integrity.
• The group, active since 1979, was first declared a banned organization in 1990 under the Unlawful Activities (Prevention) Act (UAPA), 1967, and its ban has been periodically renewed.

Reasons for Ban Extension

1. Secessionist Objectives

• ULFA continues to advocate for Assam’s secession from India.
• The organisation is linked to activities that include intimidation, extortion, and violence in Assam.

2. Criminal and Violent Activities

• Between November 2019 and July 2024, ULFA was involved in:
  • 16 criminal cases, including planting explosives.
  • Several IED attacks, particularly in the run-up to Independence Day 2024.
• In the last five years:
  • 27 criminal activities have been attributed to ULFA.
  • 56 cadres were arrested, 63 surrendered, and 3 cadres killed in operations.
  • Authorities recovered 27 arms, 550 rounds of ammunition, 9 grenades, and 2 IEDs.

3. Collaboration with Other Groups

• The group has maintained links with other insurgent organizations to aid its extortion and violent activities.

Pro-Talks vs. Hardline Factions

Pro-Talks Faction

• On December 29, 2023, the pro-talks faction of ULFA, led by Arabinda Rajkhowa, signed a peace accord with the Indian and Assam governments.
  • The faction agreed to:
    • Disband the organization.
    • Surrender all arms.
    • Join the democratic process.

Hardline Faction

• The hardline faction, led by Paresh Baruah, continues to engage in subversive activities.
  • Baruah operates from safe havens near the China-Myanmar border, maintaining his stance against peace talks.

Government Measures

• The Assam government recommended declaring ULFA an unlawful association under the UAPA. Consequently, the Union Home Ministry formalized the ban, stating:
• "ULFA, along with its factions, wings, and front organizations, poses a threat to India’s sovereignty and is hereby declared unlawful for a period of five years with effect from November 27, 2024."

Study Reports Drop In HIV Infections By 22%, HIV-related Deaths By 40%

• A new study in The Lancet HIV journal reveals significant progress in reducing the global burden of HIV (human immunodeficiency virus).
• Still, it underscores that current efforts are insufficient to meet the UNAIDS 2030 targets.
• The study comprehensively analyses trends and future projections for HIV incidence, prevalence, and mortality across 204 countries.

Key Highlights

Progress Achieved

1. Decline in New Infections and Mortality:
   • New HIV infections have dropped by 22%
   • HIV-related deaths have decreased by 40%
2. Sub-Saharan Africa’s Success:
   • A significant contributor to global progress, with lifetime risk of infection falling by 60% since its peak in 1995.
3. Future Trends:
   • The number of people living with HIV is projected to peak at 44.4 million by 2039 before gradually declining to 43.4 million by 2050.

Challenges Identified

1. Rising Cases in Some Regions:
   • Central and Eastern Europe, and Central Asia:
     • Lifetime HIV acquisition probability rose by 586.4% (1995–2021).
     • Cases of individuals with unsuppressed viral loads increased by 116.1% (2003–2021).

2. Ongoing Infections and Mortality:
   • Annually, 1 million new HIV infections
   • The virus remains a major cause of mortality in many countries.
3. Treatment Coverage:
   • Only 75% of the estimated 40 million people living with HIV are receiving treatment.
4. Lagging UNAIDS 2030 Targets:
   • The goal to reduce new infections and AIDS-related deaths by 90% by 2030 remains unmet in many regions.

Study Methodology

• The analysis utilised the Global Burden of Diseases (GBD) 2021 framework.
• Sources of data:
  • UNAIDS HIV program reports.
  • Systematic reviews on mortality among people on ART (antiretroviral therapy).
  • Household surveys and country-level case reports.
  • Sentinel surveillance and antenatal care clinic data.
• The study provided global estimates of the lifetime probability of HIV acquisition and the prevalence of unsuppressed viral loads (PUV).

India Celebrates 75th Anniversary of Constitution Adoption as "Samvidhan Diwas"

• President Droupadi Murmu inaugurated the 75th-anniversary celebrations of the adoption of India's Constitution, observed as Samvidhan Diwas, at the old Parliament building (Samvidhan Sadan).
• This historic occasion commemorates the adoption of the Constitution on November 26, 1949, which came into effect on January 26, 1950.

Key Highlights of the Event

1. Releases and Unveilings:
   • Commemorative Coins and Postage stamps were issued to mark the milestone.
   • The first Sanskrit copy of the Constitution and its Maithili version were unveiled.
   • Two books were launched:
     • "Making of the Constitution of India: A Glimpse."
     • "Making of the Constitution of India & Its Glorious Journey."

2. President Murmu’s Address:
   • Described the Constitution as a "living and progressive document" contributing to social justice and inclusive development.
   • Highlighted the contributions of the 15 women members of the Constituent Assembly in shaping the Constitution.
   • Called upon citizens to uphold constitutional ideals and perform their fundamental duties.
   • Expressed optimism for India’s development by 2047, marking the centenary of independence.
   • Recognized the women’s reservation law as a milestone in women's empowerment.

Historical Context of Samvidhan Diwas

• The Constitution was adopted on November 26, 1949, and officially implemented on January 26, 1950.
• Recognized as Constitution Day (Samvidhan Diwas) since 2015, following an initiative by Prime Minister Narendra Modi.
• Celebrations serve as a tribute to the framers of the Constitution and a reaffirmation of India’s commitment to its democratic principles.

Cabinet Approves PAN 2.0 Project for Enhanced Taxpayer Services

• The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved the PAN 2.0 Project of the Income Tax Department, with a financial outlay of ₹1,435 crore.

Key Objectives of PAN 2.0 Project

The PAN 2.0 Project aims to overhaul the taxpayer registration system through technology-driven transformation, offering a seamless and enhanced digital experience for taxpayers.

1. Ease of Access:
   • Ensures speedy service delivery with improved quality.
2. Data Consistency:
   • Provides a Single Source of Truth to maintain uniformity across systems.
3. Eco-Friendly and Cost-Effective:
   • Promotes paperless processes and optimizes costs.
4. Enhanced Security and Infrastructure:
   • Focuses on infrastructure optimization for improved agility and security.

Project Overview

The PAN 2.0 Project is an e-Governance initiative aimed at:

• Re-engineering taxpayer registration services through advanced technological solutions.
• Upgrading the existing PAN/TAN 1.0 system to a more robust and integrated ecosystem.
• Consolidating core and non-core PAN/TAN activities for efficient operations.
• Offering a PAN validation service to ensure accuracy and reliability.

Alignment with Digital India Vision

The initiative aligns with the Government’s Digital India mission, enabling the use of PAN as a Common Identifier across digital systems of specified government agencies.

Cabinet Approves ₹7,927 Crore for Three Major Railway Projects

• The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved three critical railway projects.
• These projects aim to boost connectivity, alleviate congestion, and drive regional economic growth, with a combined investment of ₹7,927 crore.

Details of the Projects

1. Jalgaon-Manmad Fourth Line
   • Length: 160 km
   • Purpose: Reduce congestion and improve rail operations on the Mumbai-Prayagraj route.
2. Bhusawal-Khandwa Third and Fourth Lines
   • Length: 131 km
   • Scope: Enhance freight and passenger movement across the region.
3. Prayagraj (Iradatganj)-Manikpur Third Line
   • Length: 84 km
   • Focus: Strengthen connectivity for the Prayagraj region.

Strategic Significance

• Easing Congestion:
  These projects address bottlenecks on key rail routes connecting Mumbai and Prayagraj, improving the efficiency of operations.
• Enhanced Connectivity:
  • Connects seven districts across Maharashtra, Madhya Pradesh, and Uttar Pradesh, including aspirational districts Khandwa and Chitrakoot.
  • Benefits 1,319 villages and approximately 38 lakh people.
• Religious Tourism Boost:
  • Enhances travel to major pilgrimage sites, such as:
    • Trimbakeshwar, Omkareshwar, Kashi Vishwanath, Prayagraj, Chitrakoot, and Shirdi.
  • Facilitates access to UNESCO World Heritage sites like Ajanta and Ellora Caves and landmarks such as Khajuraho, Devgiri Fort, and Asirgarh Fort.

Environmental and Economic Impact

• Green Transportation:
  • Expected to cut 271 crore kg of CO2 emissions, equivalent to planting 11 crore trees.
  • Supports India's sustainable development goals by promoting eco-friendly logistics.
• Economic Growth:
  • Promotes self-reliance by generating local jobs and self-employment opportunities.
  • Drives tourism, trade, and regional development under the PM-Gati Shakti National Master Plan.

Union Cabinet approves National Mission on Natural Farming with an outlay of ₹2,481 crore

• The Union Cabinet, led by Prime Minister Narendra Modi, has launched the National Mission on Natural Farming (NMNF) as a standalone Centrally Sponsored Scheme under the Ministry of Agriculture & Farmers' Welfare.
• With a total outlay of ₹2,481 crore(₹1,584 crore by the Centre and ₹897 crore by states), NMNF aims to revolutionise Indian agriculture by promoting chemical-free natural farming practices.

Key Highlights

Objective

• Foster sustainable agriculture by encouraging natural farming rooted in traditional practices, local agroecology, and integrated farming methods.
• Deliver safe and nutritious food, lower input costs, and enhance soil health and biodiversity.

Implementation Strategy

1. Cluster Development:
   • Implement NMNF in 15,000 clusters across Gram Panchayats within two years.
   • Target: Reach 1 crore farmers and promote natural farming on 5 lakh hectares.
2. Infrastructure Support:
   • Establish 10,000 Bio-input Resource Centres (BRCs) for easy access to natural farming inputs like Jeevamrit and Beejamrit.
3. Model Demonstration Farms:
   • Set up 2,000 farms at Krishi Vigyan Kendras (KVKs), Agricultural Universities, and farmers’ fields.
   • Farmers trained in natural farming techniques near their villages.
4. Farmer Training & Mobilization:
   • Train 75 lakh farmers in input preparation.
   • Deploy 30,000 Krishi Sakhis/Community Resource Persons for awareness and support.
5. Technology Integration:
   • Implement real-time geo-tagged monitoring through an online portal for effective tracking.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Iraq conducts its first nationwide census in almost 37 years 

• Iraq launched its first nationwide population census in 37 years, marking the first general census since 1997.
• The census aims to modernize data collection and address socio-economic challenges in Iraq, helping with resource allocation, infrastructure development, and planning social services.

Key Highlights :

• Data Collection Method: Enumerators will visit households three times daily to ensure data accuracy.
• The census will collect data on household durable goods to highlight regional disparities in wealth and poverty.
• Impact on Infrastructure and Social Services: The census will help Iraq plan for infrastructure development, assess regional wealth disparities, and guide decisions on social services.
• Political Context: Previous census attempts were disrupted by security concerns, including sectarian violence in 2007 and ongoing political instability, making the 2024 census crucial for planning and development.
• Government Effort: Around 120,000 workers will conduct the survey, and the government has imposed a two-day curfew to support the operation.
• Expected Results: Final results of the census will be released in two to three months, providing comprehensive and reliable data for governmental planning.
• Challenges Overcome: The census reflects Iraq’s effort to modernize its statistical systems and overcome challenges stemming from years of conflict and political divisions.

About Iraq :

• President :Abdul Latif Rashid
• Prime Minister :Mohammed Shia' Al Sudani
• Capital :Baghdad
• Currency :Iraqi dinar

Russia Deploys Intercontinental Missile in Ukraine War for the First Time: Kyiv 

• Ukraine claims that Russia launched an intercontinental ballistic missile (ICBM) at Dnipro city in central-east Ukraine, marking the first use of such a missile in the ongoing war.
• The missile was reportedly fired from Russia's Astrakhan region, bordering the Caspian Sea.
• Alongside the ICBM, eight other missiles were launched; Ukrainian air defences intercepted six.
• Impact of the Attack:The missile strike led to two casualties and caused significant damage to local infrastructure, including an industrial facility and a rehabilitation centre for people with disabilities.
• ICBM Significance:ICBMs are typically designed to carry nuclear warheads, and their use in this context sends a powerful signal about Russia's nuclear capabilities.
• The attack serves as a reminder of the potential for escalation in the war.
• Revised Nuclear Doctrine by Russia:The missile launch occurred just days after Russian President Vladimir Putin signed a revised nuclear doctrine.
• The new doctrine lowers the threshold for Russia's use of nuclear weapons, allowing for the use of nuclear force in response to conventional attacks supported by nuclear powers.
• Escalation of Military Engagement:Ukraine's military actions included the use of longer-range missiles supplied by the U.S., including Storm Shadow missiles.
• Russia's defence ministry reported shooting down several of these missiles, including British-made Storm Shadows and U.S. HIMARS rockets.
• International Involvement:North Korean troops have reportedly joined Russia's military efforts in Ukraine, which has influenced U.S. policy on supplying longer-range missiles to Ukraine.

CURRENT AFFAIRS : STATE NEWS

Lieutenant Governor VK Saxena Approves Amendments to Align Delhi Legal Metrology Rules with Jan Vishwas Act, 2023 Regulations  

• Lieutenant Governor VK Saxena approved amendments to align the Delhi Legal Metrology Rules, 2011, with central government regulations under the Jan Vishwas Act, 2023.
• Purpose of Amendments:The changes aim to protect consumers from fraud and malpractice by retailers, wholesalers, and manufacturers.
• Focus on ensuring fair market practices and stricter deterrence against the use of non-standard weights and measures.

Key Highlights :

Revised Penalties:

• Use of Non-Standard Weights/Measures:
  • Retailers: Increased from ₹2,500 to ₹5,000.
  • Wholesale dealers: ₹10,000.
  • Petroleum industry/petrol pumps: ₹50,000.
• Manufacture of Non-Standard Weights/Measures:
  • The fine increased from ₹2,000 to ₹1,00,000.
• Selling Non-Standard Packages:
  • Retailers: Increased from ₹2,500 to ₹5,000.
  • Manufacturers: ₹25,000.
• Integration of National Standards:Specific provisions from the Legal Metrology (Packaged Commodity) Rules, 2011, will be incorporated into the Delhi rules to ensure uniform regulatory standards.
• Compounding Fees:The Delhi government will be empowered to increase compounding fees for specific offences once the changes are implemented.
• Approval Process:The draft notification will be sent to the Ministry of Consumer Affairs (Weights and Measures Division) for approval as required by the Act.
• The amendments will follow the Government of NCT of Delhi Act, 1991.
• Central Ministry Involvement:The Ministry of Consumer Affairs, Food and Public Distribution advised states to prescribe compounding fees in enforcement rules and provided draft model rules for reference.

About Delhi :

• Governor : Vinai Kumar Saxena
• Chief Minister : Atishi Marlena Singh (AAP)

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Financial Services Institutions Bureau Recommends Binod Kumar as Managing Director and Chief Executive Officer of Indian Bank  

• Binod Kumar has been recommended by the Financial Services Institutions Bureau (FSIB) for the position of Managing Director (MD) and Chief Executive Officer (CEO) of Indian Bank.
• He currently serves as Executive Director of Punjab National Bank (PNB).
• Binod Kumar is expected to replace S L Jain, the current MD and CEO of Indian Bank, upon his superannuation in December 2024.
• Asheesh Pandey was initially recommended in April 2024, but the RBI raised reservations about his selection. Fresh interviews were subsequently conducted.
• The final decision on the appointment rests with the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi.

FSIB Leadership and Members:

• Chairperson: Bhanu Pratap Sharma (former Secretary, Department of Personnel and Training).
• Members:
  • Animesh Chauhan (former Chairman and MD of Oriental Bank of Commerce).
  • Deepak Singhal (former Executive Director of RBI).
  • Shailendra Bhandari (former MD of ING Vysya Bank).
• The FSIB is the head-hunting agency responsible for recommending candidates for top positions in public sector banks and financial institutions.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

NBCC India aims to acquire defunct PSUs for land redevelopment and monetization

• NBCC India Limited aims to acquire defunct public sector undertakings (PSUs) to redevelop and monetize their land.
• The company plans to set up a new subsidiary to acquire non-operational PSUs for the purpose of land monetization.
• Mumbai-based PSU Acquisition:The company is in discussions to acquire a defunct Mumbai-based PSU that has land at key locations in various cities.
• The acquisition plan is still in progress, with no finalized details.
• Redevelopment Decisions:The company will decide on land development (commercial or residential) based on the potential of the land.
• NBCC is in talks with government bodies for these redevelopment projects.
• Equity Partner Role:In the future, NBCC may consider becoming an equity partner in PSU land redevelopment projects.
• NBCC’s Current Operations:NBCC develops central government-owned land across India for both commercial and residential purposes, earning fees from these developments.
• Project Management Services:NBCC also provides project management consulting services for the government’s civil construction, earning a small percentage of the project cost as a fee.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

India Launches First Artificial Intelligence Data Bank to Strengthen National Security  

• India’s first Artificial Intelligence (AI) Data Bank was launched by the Ministry of Science and Technology, aimed at fostering innovation and enhancing national security.
• Objective: The AI Data Bank will provide access to diverse and high-quality datasets crucial for developing scalable and inclusive AI solutions.
• The initiative is designed to benefit researchers, startups, and developers by offering essential datasets for AI development.
• The AI Data Bank was launched by Science and Technology Minister Jitendra Singh at the 7th Edition of the ASSOCHAM AI Leadership Meet 2024.

Key Highlights :

• Thematic Focus: The event's theme was “AI for India: Advancing India’s AI Development – Innovation, Ethics, and Governance,” reflecting India’s strategy to leverage AI in various sectors.
• Strategic Goals: The AI Data Bank will contribute to enhancing national security through real-time analytics of satellite, drone, and IoT data.
• Application Areas: The initiative supports AI use in areas like healthcare, space exploration, disaster management, and cybersecurity.
• AI as Enabler: AI is positioned as a key enabler for critical sectors in India, including national security, healthcare, and space exploration.
• Collaborative Platform: The event provided a platform for policymakers, industry experts, and thought leaders to discuss responsible AI adoption in India.

US Justice Department Calls for Google to Sell Chrome to Resolve Search Monopoly Concerns  

• TheS. Department of Justice (DOJ) has filed a landmark case against Alphabet's Google, arguing that the company holds an illegal monopoly in online search and advertising.

Proposed Remedies:

• Divestiture of Chrome Browser: DOJ is proposing that Google sell its Chrome browser to end its monopoly in the search market.
• Sharing Data and Results: Google would need to share search results and user data with its competitors, without charging them, to foster competition.
• Possible Sale of Android: If other measures fail, Google may also be required to sell its Android operating system, which is widely used on mobile devices.
• Ending Exclusive Contracts: Google’s exclusive agreements with Apple and other device makers, paying billions to make Google the default search engine, would be prohibited.
• Impact on Competition:The proposals aim to restore competition in the search and advertising markets by preventing Google from using Chrome and Android to favor its own search engine over rivals.
• The DOJ suggests that Google’s monopoly harms competitors and consumers by reducing innovation and choice in the search and advertising space.
• Enforcement:A court-appointed five-person technical committee would monitor compliance with these proposed remedies for up to a decade.
• The committee would have the power to investigate Google’s practices and ensure that the company adheres to the court's rulings.
• Next Steps:Google will present its own proposals in December.
• Any potential buyer for Chrome or Android, if sold, would need approval from the DOJ and state antitrust enforcers.

About Google :

• Founded : September 4, 1998
• Headquarters :California, United States
• CEO :Sundar Pichai

CURRENT AFFAIRS: MOUS AND AGREEMENT

Historic Collaboration to Enhance Healthcare and Education at IMS, BHU

• Union Ministers Dharmendra Pradhan (Education) and P. Nadda (Health and Family Welfare) witnessed the signing of a Tripartite Memorandum of Understanding (MoU) among the Institute of Medical Sciences (IMS), Banaras Hindu University (BHU), the Ministry of Health and Family Welfare, and the Ministry of Education.
• This collaboration aims to enhance funding and technical support to IMS, BHU, setting a new course for the future of healthcare, medical education, and research in India.

Key Features of the MoU

• Enhanced Funding:
  The MoU facilitates the provision of grant-in-aid to IMS, BHU, similar to the funding received by new AIIMS under the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY). This will lead to the establishment of state-of-the-art secondary and tertiary healthcare services at IMS, BHU, improving the region’s access to high-quality medical care.
• Reduction in Referrals:
  With improved clinical care services, the MoU aims to reduce the need for patient referrals, resulting in better healthcare delivery, enhanced patient satisfaction, and reduced out-of-pocket expenditure for patients.
• Academic and Research Collaboration:
  The MoU will promote student, faculty, and research exchanges between IMS, BHU, the Ministry of Health and Family Welfare (MoHFW), and AIIMS, facilitating the sharing of knowledge and expertise in areas such as:
  • Clinical upgradation
  • Robotics surgery
  • Hospital administration and governance
• Research Focus:
  Shri Dharmendra Pradhan emphasized the importance of research excellence, urging IMS, BHU to collaborate with national and international institutions to enhance its research output and meet the medical needs of eastern Uttar Pradesh and surrounding areas.
• Vision of a New India:
  The MoU aligns with Prime Minister Narendra Modi’s vision of transforming institutions like BHU into global centers of academic excellence and healthcare services, making Varanasi a hub for integrated healthcare and education.

Previous Collaborations

• In June 2018, an MoU was signed between AIIMS Delhi and IMS BHU to facilitate exposure to the latest healthcare practices and promote medical education and research.
• The MoU envisioned the financial support of infrastructure development projects to establish specialized healthcare and research facilities.

Union Minister Manohar Lal Visits Ministry of Power & NTPC Pavilions at IITF 2024

• Shri Manohar Lal, Union Minister of Power, Housing & Urban Affairs, visited the Ministry of Power and NTPC pavilions at the India International Trade Fair (IITF)
• He was accompanied by Shri Pankaj Agarwal, Secretary (Power), CMDs of Power CPSEs, and senior officials from the Ministry of Power and Power Sector CPSEs.

Ministry of Power Pavilion: Showcasing India's Energy Transition

The Ministry of Power pavilion at IITF 2024 highlighted India’s vision for a Viksit Bharat (Developed India) by 2024, focusing on key areas like:

• India's Energy Transition: Emphasizing the nation’s progress towards achieving energy security and a sustainable future.
• Interactive Technology: The pavilion was equipped with advanced Virtual Reality games, interactive LED globes, quiz panels, and touch-screen OLED displays to create an engaging experience for visitors.
• Green Energy Initiatives: CPSEs under the Ministry showcased their efforts in promoting green energy, the net-zero emissions goal, and initiatives aimed at improving ease of living.

NTPC Pavilion: Introducing 'Sukh' Eco-House

NTPC presented its innovative, eco-friendly housing solution at the IITF through the ‘Sukh’ Eco-House, which utilizes:

• 80% Ash-Based Products: The eco-house is built using ash and ash-based products derived from thermal power plants, offering an affordable and sustainable housing option, particularly for rural areas.
• Sustainability and Zero-Carbon Emissions: The house exemplifies NTPC’s commitment to sustainability and the net-zero emissions goal.

The Road Ahead: A Vision for 2047

• Both the Ministry of Power and NTPC pavilions at IITF 2024 underscored the government’s ongoing initiatives to transform India’s energy and infrastructure.
• These efforts align with the country’s larger vision for 2047, aiming for a greener, more sustainable
• The exhibits not only presented technological advancements but also demonstrated a strong commitment to renewable energy, eco-friendly infrastructure, and public awareness, contributing to the government’s vision of a developed India

CURRENT AFFAIRS: SPORTS NEWS

Vaibhav Suryavanshi: The 13-Year-Old Prodigy Making IPL History

• Vaibhav Suryavanshi, a 13-year-old cricketer from Bihar, has become the youngest player ever to be signed in an IPL auction.
• IPL 2025 Mega Auction in Jeddah, the Rajasthan Royals acquired him for an impressive ₹1.10 crore, edging out the Delhi Capitals in a bidding war.
• This groundbreaking achievement positions Suryavanshi as a promising talent in Indian cricket.

Early Life and Cricketing Journey

A Passion Ignited Early

• Born in 2011, Vaibhav displayed a passion for cricket at the age of 4.
• His father, Sanjeev Suryavanshi, built a cricket area in their backyard to support his budding talent.

Structured Training and Rapid Progress

• Joined a cricket academy in Samastipur, Bihar, at age 9.
• By 12, Vaibhav had represented Bihar in premier tournaments like the Vinoo Mankad Trophy, scoring 400 runs in five matches.

Key Milestones

Youngest First-Class Cricketer

• Debuted in the Ranji Trophy for Bihar against Mumbai in January 2023 at just 12 years and 284 days.
• Achievements:
  • Youngest Indian first-class debutant since 1986.
  • Second-youngest player for Bihar in the Ranji Trophy.

Exceptional Under-19 Performances

• Represented India B U-19 in a quadrangular series in 2023.
• Consistent performances against teams like Bangladesh and England U-19 attracted IPL scouts.

Stellar Youth Test Against Australia

• Debuted for India U-19 in September 2024 against Australia U-19 in Chennai.
• Scored a breathtaking 104 off 62 balls, cementing his reputation as a rising star.

IPL 2025 Mega Auction

A Record-Breaking Moment

• Youngest player registered for the auction.
• Signed by Rajasthan Royals for ₹1.10 crore after a competitive bid with Delhi Capitals.
• At 13 years and 243 days, he became the youngest player in IPL history.

Notable Achievements and Records

1. India U-19 Selection: Earned a spot in the national U-19 squad due to stellar performances.
2. Vinoo Mankad Trophy: Scored 400 runs in five matches for Bihar.
3. Youth Test Century: Scored a 62-ball century on debut against Australia U-19.
4. Ranji Trophy Debut: Became the youngest first-class player in 37 years.

CURRENT AFFAIRS : OBITUARIES

Essar Group Founder Shashikant Ruia Passed away 

• Shashikant Ruia, patriarch of the billionaire Ruia family and co-founder of the Essar Group of companies, passed away at the age of 81.
• The Essar Group is currently led by his brother Ravi and his sons, Prashant and Anshuman.

Essar Group's Major Projects:

• Oil Refinery in Jamnagar: Essar Group built India's largest single-location oil refinery in Jamnagar in the 1990s, later sold to Russia’s Rosneft for $13 billion in 2017.
• Steel Plant in Hazira: Established a 10 million tonnes per annum (mtpa) steel plant in Hazira, Gujarat, which was acquired by ArcelorMittal in 2018 after operational challenges.
• Stanlow Refinery Acquisition: In 2011, Essar acquired the Stanlow refinery and retail outlets in the UK from Royal Dutch Shell.
• Diversification and Growth:Essar Group diversified into multiple sectors including oil and gas, steel, mining, ports, shipping, power, and telecommunications.
• The Group had a 33% stake in a joint venture with Vodafone PLC, which was sold for $5 billion in 2011.
• Telecom and Global Expansion:Essar sold its telecom venture to Vodafone PLC in 2011.
• The group became a global conglomerate with ventures in energy, steel, and infrastructure.

About Essar Group :

• Founded : 1969
• Headquarters : Mumbai, Maharashtra, India
• It is an Indian multinationalconglomerate company, founded by Shashi Ruia and Ravi Ruia.

CURRENT AFFAIRS: IMPORTANT DAYS

World Sustainable Transport Day - November 26

• The United Nations General Assembly has designated November 26 as World Sustainable Transport Day (WSTD) to promote the shift towards more environmentally friendly and sustainable transportation systems.
• The theme for 2024 is: "Together, We Can Drive Meaningful Change for a Healthier Planet and a Brighter Future."

History of World Sustainable Transport Day

• Established by the UN General Assembly: In May 2023, the UN General Assembly adopted Resolution A/RES/77/286, which officially recognized World Sustainable Transport Day.
• Initiated by Turkmenistan: The proposal was first put forward by Turkmenistan, acknowledging the essential role of transport in facilitating connections, trade, and economic progress.

Daily CA One- Liner: November 27

• The Ministry of Home Affairs (MHA) extended the ban on the United Liberation Front of Asom (ULFA) for five years for continuing to work to secede Assam from India and maintain links with other insurgent groups for extortion and violence, according to a notification issued by the ministry.
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• The United Nations General Assembly has designated November 26 as World Sustainable Transport Day (WSTD) to promote the shift towards more environmentally friendly and sustainable transportation systems.
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• Shashikant Ruia, patriarch of the billionaire Ruia family and co-founder of the Essar Group of companies, passed away at the age of 81.