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CURRENT AFFAIRS : BANKING & FINANCE

Punjab National Bank Launches Digital Gold Loan for Convenient Credit Access                                   

• Public sector bank Punjab National Bank (PNB) launched the PNB Digital Gold Loan scheme.
• The digital lending solution was introduced during the bank's Digital Mahotsav event.

Aim of the Scheme :

• To provide hassle-free credit to customers to quickly meet their personal as well as agriculture credit requirements by using gold jewellery and/or ornaments as collaterals.

Key Highlights :

• Two schemes have been introduced :

1. PNB Gold Loan: Targeting the retail segment.
2. PNB Swarnim: Catering to the agriculture segment.

• Loan Amount and Collaterals : The PNB Digital Gold Loan scheme allows individuals to borrow amounts ranging from Rs 25,000 to Rs 25 lakh for personal needs.
• Additionally, the loan is available for supporting agriculture or allied activities.
• Eligibility for Agriculture Loans : Borrowers seeking short-term production and/or investment credit for agriculture activities are eligible.
• Activities include crop production, land-based activity other than crop cultivation, irrigation, and allied agriculture activities.
• Loan Range for Agriculture Activities : Eligible borrowers can avail loans ranging from a minimum of Rs 10,000 to a maximum of Rs 2 lakh for agricultural purposes.

About PNB :

• Founded : 19 May 1894
• Headquarters : Dwarka, Delhi, India
• MD & CEO : Atul Kumar Goel
• Tagline : You Can Bank Upon

PayGlocal Receives Regulatory Approval from RBI for Payment Aggregator License                                           

• The Reserve Bank of India (RBI) has given approval to PayGlocal for a payment aggregator license.
• It has received in-principle approval from RBI for Payment Aggregator (PA) license
• After completion of the process, PayGlocal will be able to onboard merchants onto its platform for online payment processing.
• PayGlocal has garnered support from prominent investors, including PeakXV (formerly known as Sequoia Capital India) and Tiger Global, through successful capital raising.

What is a Payment Aggregator (PA)?

• A Payment Aggregator, also referred to as a merchant aggregator, is a third-party service provider enabling merchants to accept payments from customers by integrating payment options into their websites or applications.
• It facilitates different types of payment transactions, including cash/cheque, online payments through multiple payment sources, or offline touchpoints.
• It allows merchants to accept bank transfers without setting up a bank-based merchant account. It means a merchant need not have a merchant account directly with the bank.
• Payment Aggregators in India are incorporated under the Companies Act 2013, highlighting the regulatory framework and legal structure governing their operations.

About PayGlocal :

• Founded : 2021
• Founders : Prachi Dharani, Rohit Sukhija and Yogesh Lokhande.
• PayGlocal is a cross-border focused payments platform provider.

Deloitte Report Highlights Indian Banks Outperforming Global Peers in Digital Maturity Scores

• As per a survey-based report by Deloitte India called "Digital Banking Maturity (DBM)” In terms of digital maturity score, Indian banks are outperforming their international counterparts relative to the global average.
• The report indicates that Indian banks not only outperform global averages but also have the opportunity for further growth, positioning them to become "Digital Champions."

Key Highlights :

• Scope of the Survey: The survey covered 304 banks in 41 countries, with the top 10 per cent performers recognized as "Digital Champions.
• Digital Transformation Categories: Banks were categorized as "Digital Champions," "Digital Smart Followers," "Digital Adopters," and "Digital Latecomers" based on their digital maturity scores.
• Performance in Mobile and Internet Banking: Indian banks scored 3% higher than the global average in mobile banking and 1% higher in internet banking, showcasing their strength in these digital domains.
• Titles Received by Indian Banks: According to the report, Indian banks were labelled as "Digital Smart Followers" and "Digital Adopters," reflecting their position in the digital transformation journey.
• User Interface of Digital Champions: "Digital Champions" were noted for providing a compelling user interface to customers, enhancing the overall digital banking experience.
• Financial Performance of Digital Champions: On average, "Digital Champions" demonstrated a 0.1% higher return on assets and a 1.5% higher return on equity compared to their peers, highlighting the financial benefits of advanced digital capabilities.

Maharashtra, Gujarat and Karnataka lead mutual fund investments in India

• Gujarat and Karnataka have surpassed Delhi to secure the second and third positions, respectively, in holding the highest equity mutual fund assets during the September quarter.
• Gujarat's equity asset increased to ₹2.21 lakh crore, Karnataka's to ₹1.99 lakh crore, while Delhi's equity asset dropped to ₹1.94 lakh crore.

Key Highlights :

• According to the study conducted by Geojit Insight, based on Association of Mutual Funds in India (AMFI) data, Maharashtra accounted for the lion’s share of ₹7.47 lakh crore of the overall industry equity asset of ₹25.85 lakh crore.
• Gujarat and Karnataka contribute 8.5% and 7.7%, respectively, to the overall equity assets, while Delhi's share is at 7.5%.
• Similarly, Uttar Pradesh had toppled West Bengal and Tamil Nadu to occupy the 5th position.
• Uttar Pradesh had equity asset of ₹ 1.66 lakh crore while that of West Bengal and Tamil Nadu was ₹1.65 lakh crore and ₹1.23 lakh crore.

Systematic Investment Plan (SIP) Inflows :

• Gujarat accounts for 7% of SIP inflows, amounting to around ₹1200 crore.
• With an equity asset of ₹45,149 crore, Punjab secures the 12th position, surpassing Telangana and Kerala with assets of ₹44,879 crore and ₹44,076 crore, respectively.
• On the debt side, Delhi retains its second position with assets worth ₹2.02 lakh crore, while Gujarat and Karnataka have debt assets of ₹1.06 lakh crore and ₹1.22 lakh crore, respectively.

RBI Report Indicates Forex Reserves Import Cover at 10.2 Months as of June-end 2023

• India’s forex reserves cover of imports on balance of payments basis has grown to 10.2 months as at June-end 2023.
• India’s forex reserves cover of imports was at 9.6 months at end-March 2023.

Key Highlights :

• Correlation with Forex Reserves Increase: The growth in import cover is correlated with the rise in India's forex reserves, which reached $595.051 billion at the end of June 2023 compared to $578.449 billion at the end of March 2023.
• Trade-Based Indicator - Import Cover: Import cover, serving as a trade-based indicator, reflects the adequacy of reserves to cover the country's imports.
• RBI's Gold Holding : According to RBI’s Half Yearly Report on Management of Foreign Exchange Reserves: April - September 2023, RBI’s gold holding increased to 800.79 tonnes of gold as of end-September 2023.
• At March-end 2023, RBI’s gold holding stood at 794.64 tonnes as of March-end 2023.
• The gold holding includes gold deposits of 39.89 tonnes.
• Debt-to-Reserves Ratio Improvement : The ratio of short-term debt (original maturity) to reserves decreased to 20.8% at the end of June 2023, showing improvement from 22.2% at the end of March 2023.
• Stability in Capital Flows: The ratio of volatile capital flows to reserves remained stable at 70.3% between the end of March 2023 and the end of June 2023, encompassing cumulative portfolio inflows and outstanding short-term debt.
• Foreign Currency Assets Allocation : As of end-September 2023, out of the total foreign currency assets (FCA) of $521.37 billion ($509.691 billion as of March-end 2023), 81.43 per cent invested in securities (80.76 per cent), 13.49 percent was deposited with other central banks and the BIS (14.82 per cent) and the balance 5.08 per cent comprised deposits with commercial banks overseas (4.42 per cent).

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

LIC reports highest ever Half Yearly Profit After Tax at Rs 17,469 crore

• The Life Insurance Corporation (LIC) achieved its highest-ever half-yearly profit in the first half of FY24, reporting a net profit of ₹17,469 crore.
• This is its highest ever half-yearly profit.
• This was primarily due to the transfer of ₹13,768 crore from non-participating policyholders' fund to shareholders' account, which related to accretion on available solvency margin.

Key Highlights :

• Accounting Policy Change : LIC had changed its accounting policy in September 2022 regarding the transfer of this amount (net of tax).
• According to the changed policy, it transferred Rs 27,241 crore to the shareholders’ account in FY23.
• Premium Income: LIC's total premium income experienced a 10.72% year-on-year decline, reaching ₹2.1 lakh crore. The decline was largely driven by a substantial 30.9% decrease in group premium to ₹70,977 crore.
• Individual Business Performance: Despite the overall decline in premium income, LIC witnessed a 5.5% increase in individual business premium, reaching ₹1.3 lakh crore.
• Market Leadership: LIC maintained its dominant market position with a 58.5% share in terms of first-year premium income, reaffirming its leadership in the insurance sector.

About LIC :

• Established : September 1956.
• Headquarters : Mumbai, Maharashtra
• Chairman : Siddharth Mohanty
• Slogan : Yogakshemam Vahamyaham (Your welfare is our responsibility)
• The Government of India owns LIC.

TATA AIG General Insurance Partners with Air India to Improve Passenger Travel Experience        

• Tata AIG General Insurance has partnered with Air India to offer travel insurance to both domestic and international travellers.
• Passengers can purchase comprehensive coverage while booking their flights through Air India's various platforms.
• The insurance covers are tailored to international destinations, providing a wide range of options for travellers.
• This partnership aims to enhance the travel experience and ensure the safety of passengers

About TATA AIG General Insurance Company :

• Founded : 2001
• Headquarters : Mumbai, Maharashtra, India
• 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%.

About Air India :

• Headquarters : New Delhi, Delhi
• Chairman : N. Chandrasekaran
• MD & CEO : Campbell Wilson

CURRENT AFFAIRS : NATIONAL NEWS

I&B Ministry Releases Draft Broadcasting Services Bill for Public Consultation

• The government has released the draft of the Broadcasting Services (Regulation) Bill, 2023.

Objective of the Bill :

• The Broadcasting Services (Regulation) Bill 2023 is designed to establish a regulatory framework for broadcasting services.
• The new bill aims to replace the existing Cable Television Networks (Regulation) Act, 1995, and other related policy guidelines.

Key Highlights :

• The Cable Television Networks (Regulation) Act of 1995 has been in effect for the past 30 years.
• The Broadcasting Services (Regulation) Bill 2023 will streamline regulatory processes and will cover the Over-the-Top (OTT) content and digital news.
• The bill will provide contemporary definitions and provisions to address emerging technologies in the broadcasting sector.
• The Broadcasting Services (Regulation) Bill 2023 will enhance self-regulation through the introduction of Content Evaluation Committees.
• The existing Inter-Departmental Committee will evolve into a more participative and broader Broadcast Advisory Council.
• The bill will introduce advisory, warning, censure, and monetary penalties for operators and broadcasters.
• Monetary penalties and fines will be linked to the financial capacity of the entity, as per the provisions of the bill.
• It will also provide different programs and advertising codes for different broadcast network operators.

About Ministry of Information and Broadcasting (Ministry of I&B) :

• Union Minister : Anurag Thakur
• Minister of State : L. Murugan

Wood Mackenzie Report Predicts India's Rise as the Second-Largest Solar Module Manufacturer by 2025

• According to the Wood Mackenzie report, India would become world’s 2nd largest solar module manufacturer by 2025.

Key Highlights :

• In its latest report, Wood Mackenzie has forecasted that India will overtake Southeast Asia as the second-largest module production region by 2025.
• India's ascent is attributed to the strong incentives provided under the Production-Linked Incentive (PLI) scheme.
• India and the United States have jointly announced plans for more than 200 gigawatts (GW) of module capacity since 2022.
• ICRA had previously estimated that India's solar photovoltaic (PV) module manufacturing capacity would increase to over 60 GW by 2025 from the current level of around 37 GW.
• The International Energy Agency (IEA) anticipates that India's domestic production capacity could exceed 70 GW by 2027.
• The world’s fastest growing renewable energy market is offering around USD 2.5 billion in subsidies under the PLI scheme for expanding solar PV module manufacturing capacity.
• Under Tranche-I of the PLI scheme, with an outlay of Rs 4,500 crore, Letters of Award (LoA) have been issued for setting up of 8,737 megawatts (MW) of fully integrated solar PV module manufacturing units (manufacturing of Polysilicon, Wafers, Cells and Modules).
• Under Tranche-II, with an outlay of Rs 19,500 crore, the LoAs have been issued for setting up of 39,600 MW of fully/ partially integrated solar PV module manufacturing units, through which 12 GW of polysilicon capacity, 28.8 GW of ingot-wafer capacity, 36.2 GW of cell capacity and 39.6 GW of module capacity is envisaged.
• The capex outlay for setting up these integrated module capacities is estimated to exceed Rs 1 lakh crore.
• According to the IEA, solar manufacturing currently is concentrated in 5 countries accounting for more than 90% of global capacity.
• The top 5 countries in solar manufacturing are China (80% of the global market), Vietnam (5%), India (3%), Malaysia (3%), and Thailand (2%).
• Wood Mackenzie is a global consultancy firm specializing in renewables, energy, and natural resources.

CURRENT AFFAIRS : INTERNATIONAL NEWS

United Kingdom to Add India to its List of Safe Countries                      

• The United Kingdom (UK) has decided to include India in its list of safe states.
• Apart from India, Georgia has also been included in the list of safe states of the UK.
• Other nations deemed safe by the UK include Albania, Switzerland along with European Union (EU) and European Economic Area (EEA) states.
• This decision was announced by the UK Home Office to streamline immigration procedures and enhance border control measures.

Key Highlights :

• Objective - Return Process Enhancement : This move is expected to expedite the repatriation process for individuals who have entered the UK illegally from India, aligning with the UK's efforts to enhance border security.
• Rise in Small Boat Arrivals : The UK experienced an increase in the arrival of small boats from India and Georgia in the past year, prompting the government to reevaluate its approach.
• Action Under Illegal Migration Act 2023 : The inclusion of India and Georgia in the safe states list comes as part of the UK government's response to address the influx, invoking measures under the "Illegal Migration Act 2023" against asylum seekers from these countries.
• Safety and Stability Criteria: Countries on the safe states list are deemed by the UK government to be safe, stable, and free from widespread human rights abuses.
• Detention and Prompt Return Authority: According to the rules, the UK has the authority to detain illegal immigrants from these designated safe states or order their swift return.

About UK :

• Prime Minister: Rishi Sunak
• Capital: London
• Currency: Pound sterling

First India-United States Defence Acceleration Ecosystem (INDUS X) Investors Meet held in Delhi ahead of 2 plus 2 Indo-US Ministerial Dialogue

• The first India-US Defense Acceleration Eco-System (INDUS X) Investor Meet concluded in Delhi.
• It was organized by Innovation for Defense Excellence (iDEX) under the Department of Defense Production and the US Department of Defense in New Delhi.
• This meeting was organized Ahead of the 2+2 India-US ministerial dialogue.
• During this, INDUS-X Educational Series (Gurukul) was also launched.
• The Gurukul aims to guide investors and startups into the defense ecosystems of both the United States (US) and India.
• The event was coordinated by the US-India Strategic Partnership Forum (USISPF), IndusTech and MACH33.AERO (Social Alpha).
• The first Indus-X Investor Summit showcased investor interest in start-ups and Micro, Small, and Medium Enterprises (MSMEs) operating in the defense sector and the emerging opportunities under the Indus-X initiative.
• The meeting brought together everyone including startups, investors, incubators, and industry on one platform.
• The panel discussed 'Investment Opportunities in the Defence Sector' in which establishing a sustainable commercial base for defense cooperation and co-production was discussed in detail.
• The Gurukul (Education) series will feature sessions for startups/innovators by experts from both sides including government officials, corporate representatives, industry forums, incubators/accelerators, etc.

54th International Film Festival of India Scheduled for November 20th to 28th in Goa                                     

• The 54th International Film Festival of India (IFFI) is scheduled to take place in Goa from November 20 to 28,2023 as announced by Union Minister of Information and Broadcasting Shri Anurag Thakur.
• The Ministry of Information & Broadcasting, Government of India through National Film Development Corporation (NFDC), jointly with the State Government of Goa through its Entertainment Society of Goa (ESG), is organizing 54th International Film Festival of India (IFFI)’ from 20 to 28 Nov, 2023 at Goa.

Key Highlights :

• On this occasion, Shri Thakur highlighted that the world ranking of India's market is at number 5, which shows the strength of India's media and entertainment industry.
• This market is growing every year with an average annual growth of 20% in the last three years.
• Films made in India have spread to every corner of the country and are now reaching far-flung places of the world.
• This year, the prestigious Satyajit Ray Lifetime Achievement Award will be presented to Mr. Michael Douglas, recognizing his significant contributions to world cinema.
• Over 270 films will be screened across four venues during the festival: INOX Panjim (4), Maquinez Palace (1), INOX Porvorim (4), and Jade Square Samrat Ashoka (2).
• The 'International Section' of the 54th IFFI will feature 198 films, indicating an increase of 18 films compared to the previous edition.
• The 'Indian Panorama' section will showcase 25 feature films and 20 non-feature films from India. The opening film in the feature section is the Malayalam film, "Attam," and in the non-feature section is "Andro Dreams" from Manipur.
• This year, a new category has been introduced for the Best Web Series (OTT) Award, receiving 32 entries from 15 OTT platforms in 10 languages. The winner will be awarded a certificate and a cash prize of Rs 10 lakh.

About IFFI :

• IFFI is one of the World’s 14 biggest and most prestigious ‘International Competition Feature Film Festivals’ that is accredited by the International Federation of Film Producers’ Association (FIAPF), the international body governing film festivals globally.
• International Film Festivals such as Cannes, Berlin & Venice are such other reputed festivals, accredited by FIAPF under this category.

CURRENT AFFAIRS : STATE NEWS

Data from Caste Survey Reveals 94 Lakh Bihar Households Living on Rs 6,000 per Month

• 9.4 million families in Bihar, representing 34.13% of the state's total households, earn less than ₹6,000 per month according to the Bihar's caste survey report.
• The Social, economic and educational data of the caste-based survey report has been tabled in the Bihar Assembly.
• Parliamentary Affairs Department Minister Vijay Kumar Choudhary presented the data.

Key Highlights :

Caste Disparities :

• Scheduled Castes (SCs): 42.93% earn less than ₹6,000 a month.
• Scheduled Tribes (STs): 42.7% face economic challenges.
• Extremely Backward Classes (EBCs): 33.58% are in the low-income bracket.
• Backward Castes: 33.16% experience poverty.
• General Categories:09% struggle financially, with the highest poverty rate among Bhumihars (27.58%).

Occupational Insights :

• Among the total number of Brahmin families, out of which 2,72,576 families are poor.
• Among the OBCs, 2,89,538 Yadavs have government jobs while 1,17,171 Kurmis and 1,12,106 Kushwahas have government jobs.
• In the General Category, Kayasths hold the highest number of government jobs (6.68% of the community).

Socio-Economic Indicators :

• As per the report, 14% of the people lives in huts and only 7% are graduate.
• The report showed that 3.5% of the state is working in other states.

Employment and Education :

• 2 million People have been classified as housewives and students.
• 59 million Persons are in private jobs in the organized sector while 2.79 million people work in the private unorganized sector.

Recent News :

• In Nov 2023, The Bihar Legislative Council unanimously passed the amendment bill related to increasing reservation quotas in state government jobs.
• The proposed increase is from the existing 50% to 65% for Scheduled Castes (SC), Scheduled Tribes (ST), Extremely Backward Caste (EBC), and other Backward Castes.

About Bihar :

• Governor : Rajendra Arlekar
• Chief Minister : Nitish Kumar
• Capital : Patna
• National Parks : Valmiki National Park
• Wildlife Sanctuaries : Bhimbandh Sanctuary, Gautam Buddha Bird Sanctuary, Nakti Dam Bird Sanctuary

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

'Mika' Becomes World's First AI Human-Like Robot CEO

• Dictador, a Colombian spirit brand based in Cartagena, has gained attention for appointing Mika as its Chief Executive Officer (CEO).
• Mika is a humanoid robot, and Dictador has declared it the world's first robotic CEO.

Key Highlights :

• Mika is a collaborative research project between Hanson Robotics and Dictador.
• Mika has been specifically customized to embody and represent the values of the Dictador brand.
• Hanson Robotics, the creator of Mika, is also known for developing Sophia, another well-known humanoid robot.
• In 2016, Hanson Robotics unveiled Mika's sister, Sophia, marking a significant development in the field of humanoid robotics.
• Dictador is identified as a Colombian rum brand.

CURRENT AFFAIRS : AWARDS & HONORS

Serena Williams becomes the first athlete to receive CFDA Fashion Icon Award                                   

• Serena Williams, popularly known as the G.O.A.T in the world of sports, has been honored with the Council of Fashion Designers of America (CFDA) Fashion Icon Award at the 2023 CFDA Fashion Awards.
• She became the first athlete to receive this prestigious award.
• The award was presented to her by Kim Kardashian, a CFDA honoree last year.
• 2023 CFDA Fashion Awards presented by Amazon Fashion.
• It took place on November 6, 2023, at the American Museum of Natural History, hosted by Sarah Jessica Parker.
• The honor puts Serena Williams in the group of previous CFDA Fashion Icon Award winners like Zendaya, Naomi Campbell, Beyoncé and Rihanna.
• Williams has consistently made bold fashion trends on and off the tennis court throughout her illustrious 27-year professional career.
• Alongside her tennis accomplishments, she pursued her passion for fashion, even launching her own clothing brand “S by Serena” in 2019.

About CFDA :

• Chairman : Thom Browne
• The Council of Fashion Designers of America (CFDA) was established in 1962.

CURRENT AFFAIRS : DEFENCE NEWS

Visakhapatnam Hosts the 4th Edition of BONGOSAGAR-23 and 5th Edition of CORPAT Between Indian and Bangladesh Navies

• The 4th edition of Bilateral Exercise between Indian Navy and Bangladesh Navy, BONGOSAGAR-23, and the 5th edition of Coordinated Patrol (CORPAT) by the two navies was conducted in the Northern Bay of Bengal.
• Ships and aircraft from both navies undertook joint patrolling along the International Maritime Boundary Line (IMBL), and subsequently conducted maritime exercises to enhance interoperability.

Participating Naval Assets :

• Indian Navy Ships Kuthar, Kiltan and Maritime Patrol Aircraft (MPA) Dornier took part in the exercise.
• Bangladesh Navy Ships Abu Bakr, Abu Ubaidah and MPA also took part in the exercise.
• CORPAT-23 also included the maiden Humanitarian Assistance and Disaster Relief (HADR) drills carried out between the two navies.

Description of Indian Navy Ships :

• INS Kuthar is an indigenously built guided-missile Corvette.
• INS Kiltan is an indigenously built anti-submarine Corvette.
• INS Kuthar and INS Kiltan are part of the Indian Navy's Eastern Fleet based at Visakhapatnam.
• Indian Navy's Eastern Fleet functions under the operational command of the Flag Officer Commanding-in-Chief, Eastern Naval Command.

About Ministry of Defence :

• Defence Minister : Rajnath Singh
• Minister of State : Ministry of Defence
• Defence Secretary : Giridhar Aramane

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

IARI Introduces Pusa-2090 Paddy Variety to Address Stubble Burning, Offering Farmers an Additional 30 Days with Shorter Maturation Period

• The Indian Agricultural Research Institute (IARI) has successfully developed the Pusa-2090 Paddy Variety as a strategic measure to address stubble burning issues.
• This variety has a shorter maturation time, which provides farmers with 30 extra days.
• Paddy crop is usually transplanted in June.
• It is usually ready for harvest only in late October.
• Due to this, farmers have very little time to prepare their fields to sow the next wheat crop.

What is Pusa-44?

• Pusa-44, a long-duration paddy variety bred by the IARI, has been a key contributor to stubble burning.
• Its growth cycle of 155-160 days, from nursery sowing to harvesting, leads to late October maturity, leaving a short window for field preparation for the next crop.
• Due to time constraints, farmers resort to burning the stubble, causing severe environmental issues.
• Despite its longer duration, the high-yielding nature of Pusa-44, averaging 35-36 quintals an acre, makes it popular among farmers.

About Pusa-2090 :

• IARI has developed Pusa-2090, an improved version derived from a cross between Pusa-44 and CB-501, an early-maturing Japonica rice line.
• It matures in a shorter duration of 120-125 days while maintaining comparable yields, addressing the core issue of stubble burning.
• It combines the high yield attributes of Pusa-44 with the quicker maturation cycle of CB-501, making it a promising alternative.

What is Stubble Burning?

• Stubble burning is a method of removing paddy crop residues from the field to sow wheat from the last week of September to November.
• Stubble burning is a process of setting on fire the straw stubble, left after the harvesting of grains, like paddy, wheat, etc.
• It is usually required in areas that use the combined harvesting method which leaves crop residue behind.
• The process of burning farm residue is one of the major causes of air pollution in parts of north India, deteriorating the air quality.

About IARI :

• The Indian Agricultural Research Institute (IARI) (formed 1905; HQ: Delhi), initially located in Pusa, Bihar, originated as the Imperial Institute of Agricultural Research.
• After being renamed and relocated to Delhi in 1936, it is now administered by the Indian Council of Agricultural Research (ICAR)

Samsung Introduces its Generative AI Model, Samsung Gauss                           

• Samsung has unveiled its first generative AI model, named 'Samsung Gauss,' at the Samsung AI Forum 2023.

About Samsung Gauss :

• Samsung Gauss is a large language model designed to understand human language, answer questions, generate text and images, assist in writing and editing emails, and summarize documents.
• It is also positioned as a coding assistant.
• Samsung Gauss is developed by Samsung Research, the tech giant’s research arm, parts of Samsung Gauss can run locally on devices like smartphones and tablets.
• Samsung Gauss comprises three main tools: Samsung Gauss Language, Samsung Gauss Code, and Samsung Gauss Image.

Functionality of Tools :

• Samsung Gauss Language is capable of understanding human language and answering queries similar to ChatGPT.
• Samsung Gauss Code works in conjunction with the company's code assistant, 'code.i,' assisting with code generation and providing support for code description and test case generation through an interactive interface.
• Samsung introduced generative AI functionalities to its in-house developed voice assistant – Bixby, which according to the company can understand context even if the user does not use a predefined command.
• Generative AI was brought into the limelight with the emergence of ChatGPT, the conversational platform from Microsoft-backed Open AI, triggering a race between technology companies and personalities.
• Google, which is the first major tech company to challenge ChatGPT with its Bard platform, doubled down on its efforts by introducing generative AI updates across its portfolio, including for Google Meet, Google Slides and Google Chat.

Daily CA on Nov 15 :

• Public sector bank Punjab National Bank (PNB) launched the PNB Digital Gold Loan scheme.
• The Reserve Bank of India (RBI) has given approval to PayGlocal for payment aggregator license.
• As per a survey-based report by Deloitte India called "Digital Banking Maturity (DBM)” In terms of digital maturity score, Indian banks are outperforming their international counterparts relative to the global average.
• Gujarat and Karnataka have surpassed Delhi to secure the second and third positions, respectively, in holding the highest equity mutual fund assets during the September quarter.
• India’s forex reserves cover of imports on balance of payments basis has grown to 2 months as at June-end 2023.
• The Life Insurance Corporation (LIC) achieved its highest-ever half-yearly profit in the first half of FY24, reporting a net profit of ₹17,469 crore.
• Tata AIG General Insurance has partnered with Air India to offer travel insurance to both domestic and international travellers.
• The government has released the draft of the Broadcasting Services (Regulation) Bill, 2023.
• According to the Wood Mackenzie report, India would become world’s 2nd largest solar module manufacturer by 2025.
• The United Kingdom (UK) has decided to include India in its list of safe states.
• The first India-US Defense Acceleration Eco-System (INDUS X) Investor Meet concluded in Delhi.
• The 54th International Film Festival of India (IFFI) is scheduled to take place in Goa from November 20 to 28,2023 as announced by Union Minister of Information and Broadcasting Shri Anurag Thakur.
• 9.4 million families in Bihar, representing 34.13% of the state's total households, earn less than ₹6,000 per month according to the Bihar's caste survey report.
• Dictador, a Colombian spirit brand based in Cartagena, has gained attention for appointing Mika as its Chief Executive Officer (CEO).
• Serena Williams, popularly known as the G.O.A.T in the world of sports, has been honoured with the Council of Fashion Designers of America (CFDA) Fashion Icon Award at the 2023 CFDA Fashion Awards.
• The 4th edition of Bilateral Exercise between Indian Navy and Bangladesh Navy, BONGOSAGAR-23, and the 5th edition of Coordinated Patrol (CORPAT) by the two navies was conducted in the Northern Bay of Bengal.
• The Indian Agricultural Research Institute (IARI) has successfully developed the Pusa-2090 Paddy Variety as a strategic measure to address stubble burning issues.
• Samsung has unveiled its first generative AI model, named 'Samsung Gauss,' at the Samsung AI Forum 2023.