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Daily Current Affairs PDF of 01st November 2023

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CURRENT AFFAIRS : BANKING & FINANCE

RBI Grants Approval to SBI Mutual Fund for Acquisition of 9.99% Paid-Up Share Capital in IndusInd Bank    

• SBI Mutual Fund has received approval from the Reserve Bank of India (RBI) to acquire a stake of up to 99% in IndusInd Bank, a private sector lender.
• The approval is conditional on compliance with RBI regulations, as well as foreign exchange and capital market regulations.
• As per RBI guidance, SBI MF will acquire the shareholding in IndusInd Bank within a period of one year, i.e., by 10, 2024.
• SBI MF must ensure that the aggregate holding in the bank does not exceed 9.99% of the paid-up share capital or voting rights of the bank at all times.

Recent News :

• In September, 2023 SBI Mutual Fund acquired an approximately 8% stake in the online gaming company Nazara Technologies Ltd. for Rs 410 crore.
• In May,2023 the RBI allowed SBI Funds Management Ltd. to acquire a 9.99% stake in HDFC Bank Ltd. and had recommended the company do so within six months.

About SBI Mutual Fund :

• Founded : 1987
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Shamsher Singh
• SBIFMPL is a joint venture between the State Bank of India (SBI), an Indian public sector bank, and Amundi, a European asset management company.
• SBI currently holds a 63% stake in SBIFMPL and the 37% stake is held by AMUNDI Asset Management through a wholly-owned subsidiary, Amundi India Holding.

About IndusInd Bank :

• Founded : April 1994
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sumant Kathpalia.
• Tagline : We Make You Feel Richer

Paysharp Private Limited Attains ISO 27001 Certification for Payment Aggregation

• Paysharp Private Limited, an RBI in-principle approved payment aggregator based in Chennai, has achieved ISO / IEC 27001: 2022 certification, an internationally recognised standard for information security management systems.
• Paysharp primarily facilitates non-card-based payments, such as UPI (Unified Payments Interface) payments.
• Paysharp is an existing payment aggregator that has received in-principle approval from the Reserve Bank of India (RBI) to onboard merchants onto its platform.

About ISO/IEC 27001: 2022 Certification :

• ISO/IEC 27001: 2022 is an international standard that outlines the requirements for managing information security.
• Originally published jointly by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) in 2005, it has been subsequently revised in 2013 and 2022.
• The framework specifies the requirements for establishing, implementing, maintaining, and continually improving an (ISMS) information security management system within the context of the organisation.
• It also includes requirements for the assessment and treatment of information security risks associated with people, processes, and technology aspects to create business value and protect business image and reputation.

About Paysharp :

• Paysharp is a 4-year-old Company that closed two rounds of funding.
• The last funding was in March 2023 with a 200 crore valuation.
• The company provides various UPI collection solutions for business-to-business (B2B) and business-to-consumer (B2C) businesses.

CURRENT AFFAIRS: NATIONAL NEWS

Shri Nitin Gadkari inaugurates and lays the foundation stone for 26 National Highway Projects worth Rs.17,500 Crore in Guwahati, Assam

• The Union Minister for Roads Transport and Highways, Shri Nitin Gadkari inaugurated and laid the foundation stone for 26 National Highway Projects with an investment of more than Rs. 17,500 Crore in Guwahati, Assam.
• The Union Minister of State for Roads Transport and Highways, General Shri VK Singh, the Chief Minister of Assam, Shri Himanta Biswa Sarma, State Cabinet Ministers, Member of Parliaments, MLAs, and NHIDCL officials were also present on the occasion.
• The Dibrugarh-Tinsukia-Ledo project aims to enhance interstate connectivity between Upper Assam and Arunachal Pradesh, boost strategic presence, and promote trade and tourism.
• The Silchar to Lailapur section will connect the Barak Valley with Mizoram, fostering socio-economic growth.
• NH-515 in Dhemaji District will improve connectivity between North Assam and Arunachal Pradesh.
• NH-137 will enhance connectivity in the Dima Hasao Region and provide an alternate route to Western Manipur.
• The Paikan to Guwahati Airport section will facilitate the Multi-Modal Logistics Park in Jogighopa.
• Additionally, constructing new bridges will alleviate congestion and enhance trade, tourism, and socio-economic progress in the region.

CURRENT AFFAIRS : INTERNATIONAL NEWS

CCI becomes a member of the International Competition Network's steering group

• The Competition Commission of India (CCI) has become a part of the prestigious 18-member steering committee of the International Competition Network (ICN) at the ICN Annual Conference 2023 in Barcelona, Spain after consistent efforts.

About ICN :

• The ICN was officially established in October 2001 and includes officials from 15 competition agencies worldwide.
• The concept for the ICN originated from recommendations made by the International Competition Policy Advisory Committee (ICPAC), a group formed in 1997.
• The steering committee serves as the apex body of the ICN, guiding its policies and activities.
• The ICN, comprising 140 competition agencies, typically provides antitrust authorities with a specialised, yet informal, venue for maintaining regular contacts and addressing practical competition concerns.
• The Steering Group members shall elect a Chair from among Steering Group representatives at the ICN Annual Conference in odd-numbered years.
• It is the only global body devoted exclusively to competition law enforcement and its members represent national and multinational competition authorities.
• It has no formal Secretariat or premises.

About CCI :

• Headquarters: New Delhi, Delhi
• CCI is a statutory body of the Government of India and was established in March 2009 under the Competition Act, 2002.
• It became fully functional in 2009.
• The goal of CCI is to create and sustain fair competition in the economy that will provide a ‘level playing field’ to the producers and make the markets work for the welfare of consumers.

Composition:

• It has the composition of a quasi-judicial body, with one chairperson and six additional members.
• All members of the CCI are appointed by the Central Government.

CURRENT AFFAIRS: AWARDS AND HONOURS

Union Home Minister’s Special Operation Medal” for this year awarded to four Special Operations

• The “Union Home Minister’s Special Operation Medal” for this year has been awarded for four Special Operations.
• Several officers and personnel from CRPF, NIA, NCB and different States, and organizations have been selected for the award.
• According to the Home Ministry, the award will be conferred for Special Operation in the areas such as counter-terrorism, border action, arms control, prevention of narcotics smuggling and rescue operations.
• The medal was constituted in 2018 with the objective to recognize those operations, which have high degree of planning, high significance for the security of the country, State or Union Territory and have significant impact on the security of larger sections of the society.

Tata Motors wins, entitled to recover ₹ 766 crore from West Bengal

• Tata Motors has won a significant arbitration award of ₹766 crore from the West Bengal Industrial Development Corp. Ltd (WBIDC) after a long-standing dispute related to the shutdown of its Singur plant in 2008.
• The Singur plant was built to manufacture the Nano car, which was touted as the world's most affordable car at the time.
• Tata Motors shut down its Singur plant in 2008 due to protests against land acquisition.
• The plant was intended to produce the Nano model.

Key Highlights

• According to the arbitration decision, Tata Motors has been awarded ₹766 crore. The West Bengal Industrial Development Corporation (WBIDC) is required to pay an 11% interest rate on this amount starting from September 2016 until full recovery.
• Additionally, Tata Motors can recover ₹1 crore towards the cost of the proceedings.
• The Singur dispute is considered to be a crucial case in the context of land acquisition and industrial development in India. The conflict eventually resulted in the downfall of the Left Front government in West Bengal.
• Mamata Banerjee's Trinamool Congress took advantage of the opposition to land acquisition and put an end to the world's longest-ruling democratically elected Communist party, thereby leaving a significant political impact.
• Tata Motors had invested in the Singur project with the aim of producing an affordable "people's car" priced at ₹1 lakh.
• However, the project was abandoned in 2008, following which the company shifted its manufacturing unit to Sanand in Gujarat. Despite the termination of the Nano project in 2018, the Sanand facility continues to operate for other Tata Motors passenger vehicles.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

NASA Plans 2027 Launch of Nancy Grace Roman Space Telescope for Milky Way Observation

• The National Aeronautics and Space Administration (NASA) is in the process of preparing for the launch of the Nancy Grace Roman Space Telescope, set to take place by the year 2027 to observe the Milky Way galaxy.
• The Roman Space Telescope is a NASA observatory with the primary goal of addressing fundamental questions in the fields of dark energy, exoplanets, and infrared astrophysics.
• One of its main objectives is to establish a new record for the farthest-known exoplanet, contributing to the study of planets beyond our solar system.
• The telescope's mission also includes enhancing our understanding of the Milky Way galaxy, allowing for in-depth observations and research.
• The Roman Space Telescope is designed as a long-term monitoring system, representing "time-domain astronomy."
• This field focuses on the study of how the universe changes over time, capturing dynamic celestial events.

About NASA :

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

Google to assemble Pixel phones in India from 2024

• Google, Inc. set a 2024 target to assemble its Pixel line of smartphones in India.
• The flagship device will feature the latest iteration of the Tensor chip, which was designed in India for global use.

About Tensor Chip :

• The Tensor chips were first introduced in 2021, coinciding with the launch of the Google Pixel 6.
• While these ‘system-on-chip’ processors were conceptualised by the company in 2016, they took five years to develop for use.
• The latest is the 3rd generation of the Tensor chip.
• The tech giant also touted efforts to use generative Artificial Intelligence technologies to provide more local language support to its services, and announced a partnership with Axis My India to provide information on Government schemes in multiple languages.
• The app is expected to be launched in early 2024 and will be available on both Android and iOS devices.
• The super-app will be powered by Google Cloud's AI and machine learning capabilities.
• This will allow the app to learn from user behaviour and provide more personalised recommendations.
• The multilingual super app 'a' will deliver information on government social assistance schemes, fundamental day-to-day utilities, career chances, and healthcare advantages on mobile smartphones.
• Google announced new partnerships in the field of micro-lending, aimed at providing small businesses with easier access to loans and "sachet" repayment options.

About Google :

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

CURRENT AFFAIRS: SPORTS NEWS

Priyanka Goswami of Uttar Pradesh set a new record in the Women’s 20 km Race Walk at the National Games in Goa

• Priyanka Goswami of Uttar Pradesh has also set a new National Games record in the women’s 20km Race Walk with an impressive time of 1 hour 36 minutes 35 seconds.
• Tejas Ashok Shirse of Maharashtra achieved an incredible feat, setting a new National Games record in Men's 110M hurdles by finishing it in 13.80 seconds.
• Sportsmanship and camaraderie are on full display at the 37th National Games in Goa.
• Gold medal of Women’s 3M Springboard bagged by Palak Sharma of Madhya Pradesh and that of Men's won by H London Singh of Services.
• The gold medal in women's modern pentathlon was won by Adhya Singh of Madhya Pradesh and the Gold medal in men's modern pentathlon was won by Mayank Chaphekar of Maharashtra.
• In men's Hockey, Maharashtra, Karnataka and West Bengal dominated the game, while in women's hockey, Haryana and Jharkhand showed dominance over their opponents.
• Maharashtra is leading the medal table in the National Games 2023 with 114 medals including 47 gold.
• Haryana was in second spot with 50 medals, while defending champion Services Sports Control Board is placed in third place with 33 medals

Zahid Hussain, hailing from South Kashmir, has won a silver medal at the Asian Shooting Championship.

• Zahid Hussain, hailing from Kashmir, achieved a remarkable feat by securing the silver medal at the prestigious Asian Shooting Championship held in South Korea.
• His outstanding performance not only brought joy to his hometown but also marked a significant step towards representing his nation at the Paris 2024 Olympics.
• Zahid Hussain secured the runner-up position in the men's 50M rifle prone event with a total score of 624.5 points.
• He finished just 1.1 points behind the gold medalist, Kazakhstan's Malinovskiy Konstantin, who scored 625.6 points.
• China's Du Linshu claimed the third spot with a total of 624.3 points.
• The Asian Shooting Championships in 2023 hold immense significance as they serve as a qualifying event for the upcoming Paris 2024 Olympics.
• This event offers a total of 24 Olympic quotas, with the top two finishers from each country in the 12 Olympic shooting events securing spots for their national teams.

Jyothi Yarraji has clinched the gold medal in the 100m hurdles event:

• Jyothi Yarraji, the Hangzhou Asian Games silver medalist, and Tejas Shirse showed their amazing athletic skills at the 37th National Games, breaking the National Games records in the 100m and 110m hurdles events.
• Jyothi Yarraji, an incredible athlete, managed to break her own record by finishing the 100m hurdles in just 13.22 seconds.
• Her amazing speed and technique were on full display, leaving the competition far behind.
• Tejas Shirse set the Games record in the 110m hurdles with a time of 13.80 seconds during the morning event. He managed to improve his timing even further in the final, clocking an impressive 13.71 seconds.
• Abha Khatua from Maharashtra demonstrated her strength and precision by winning the gold medal in women’s shot put with an outstanding throw of 17.09m.

Lionel Messi wins eighth Ballon d’Or 2023

• In 2023, Lionel Messi and Aitana Bonmati were awarded the Ballon d'Or.
• Messi received his eighth Ballon d'Or, which is a new record, due to his crucial role in leading Argentina to their first World Cup victory since 1986.
• This achievement puts Messi three Ballons d'Or ahead of his rival Cristiano Ronaldo, who last won the award in 2017.
• Messi has now been a finalist for this prestigious award a total of 14 times, achieving the runner-up position five times.
• Emiliano Martinez, Messi's teammate in the World Cup-winning Argentine team, was awarded the Lev Yashin Award for the world's best goalkeeper.
• Aitana Bonmati, a key player in Spain's Women's World Cup victory and a Barcelona midfielder, won the women's Ballon d'Or.
• Messi's streak of four consecutive Ballons d'Or from 2009 to 2012, was followed by his runner-up position to Haaland at the UEFA awards in August.

CURRENT AFFAIRS: IMPORTANT DAYS

World Vegan Day: 1st November

• World Vegan Day 2023 is observed on the 1st of November 2023.
• World Vegan Day 2023 is celebrated on 1st November as it falls between Halloween Day and Saint’s Day. For this reason, World Vegan Day is more special.
• The World Vegan Society was formed in 1944 by Louise Wallis. But the Name “Vegan” was first coined by Donald Watson and his wife Dorothy Morgan in the year 1944.
• The vegan society aims not only to keep the Vegan Society alive but also to promote Vegan diets all over the world.
• World Vegan Day 2023 is celebrated for the anniversary of the Vegan Society in 1944 and it attained its 50th anniversary in 1994.
• Every Year Society tries to increase the number of Vegan diet followers and to make people adopt the vegan culture.
• There are different types of Vegan.
• They are Dietary Vegans, Ethical Vegans, and Environmental Vegans.
• Dietary vegans are the vegans who follow vegetarian diets. They even avoid dairy products and leather products.

All Saints' Day: 1st November

• All Saints' Day 2023 is observed on the 1st of November 2023.
• All Saints' Day was first celebrate d on May 13th in the year 609 A.D. Pope Boniface IV decided to celebrate All Saints' Day.
• The last part of the followers has many different celebrations for saints.
• Later Pope Gregory III in 690 A.D. combined all the celebrations into one and made November 1 All Saints' Day.
• All Saints' Day is celebrated to honour the saints who were dead on that day or in that year.
• They usually celebrate the Saints' death differently whereas they celebrate the death of the Children separately.
• The Government used all its powers to make Saints' Day observance in all parts of Christian Sects and Denominations.

Daily CA One- Liner: November 1

• The Union Minister for Roads Transport and Highways, Shri Nitin Gadkari inaugurated and laid the foundation stone for 26 National Highway Projects with an investment of more than Rs. 17,500 Crore in Guwahati, Assam.
• The “Union Home Minister’s Special Operation Medal” for this year has been awarded for four Special Operations.
• Tata Motors has won a significant arbitration award of ₹766 crore from the West Bengal Industrial Development Corp. Ltd (WBIDC) after a long-standing dispute related to the shutdown of its Singur plant in 2008
• Priyanka Goswami of Uttar Pradesh has also set a new National Games record in the women’s 20km Race Walk with an impressive time of 1 hour 36 minutes 35 seconds.
• Zahid Hussain, hailing from Kashmir, achieved a remarkable feat by securing the silver medal at the prestigious Asian Shooting Championship held in South Korea.
• Jyothi Yarraji, the Hangzhou Asian Games silver medalist, and Tejas Shirse showed their amazing athletic skills at the 37th National Games, breaking the National Games records in the 100m and 110m hurdles events.
• SBI Mutual Fund has received approval from the Reserve Bank of India (RBI) to acquire a stake of up to 9.99% in IndusInd Bank, a private sector lender.
• Paysharp Private Limited, an RBI in-principle approved payment aggregator based in Chennai, has achieved ISO / IEC 27001: 2022 certification, an internationally recognized standard for information security management systems.
• The Competition Commission of India (CCI) has become a part of the prestigious 18-member steering committee of the International Competition Network (ICN) at the ICN Annual Conference 2023 at Barcelona, Spain after consistent efforts.
• The National Aeronautics and Space Administration (NASA) is in the process of preparing for the launch of the Nancy Grace Roman Space Telescope, set to take place by the year 2027 to observe the Milky Way galaxy.
• Google, Inc. set a 2024 target to assemble its Pixel line of smartphones in India
• In 2023, Lionel Messi and Aitana Bonmati were awarded the Ballon d'Or.
• World Vegan Day 2023 is observed on the 1st of November 2023.
• All Saints' Day 2023 is observed on the 1st of November 2023