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Daily Current Affairs PDF of 25th November 2023

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CURRENT AFFAIRS: BANKING AND FINANCE

FDI shrinks 7.8% in second quarter of FY24

• FDI equity inflows contracted 7.7% to $9.5 billion in the July-September quarter of FY24.
• Data released by the Department for Promotion of Industry and Internal Trade (DPIIT) showed this contraction in FDI inflow.
• Foreign direct investment (FDI) equity inflows stood at $10.3 billion a year ago.
• Total FDI into India declined 7.8% on-year to $15.3 billion in the July-September quarter of FY24 from $16.6 billion a year ago.
• The total FDI includes equity inflows, reinvested earnings and other capita.

Key Highlights

• According to the data, the equity inflows declined 24% on-year in H1 of FY24 at $20.4 billion.
• Singapore was the top source of equity inflows.
• It was followed by Mauritius,US, UK,UAE.
• The inflows declined12.8% from the quarter ended June 30, 2023.
• Foreign investments declined in April, May, June, July and August but increased in September.
• Tax havens like the Cayman Islands and Cyprus were among the top 10 sources of overseas investments for India.
• Services sector received the highest inflows of $3.8 billion in the first half.
• It was followed by construction (infrastructure) activities, and the computer software and hardware sectors at $2.4 billion each.
• Among the states, Maharashtra got the highest inflow of $7.9 billion in April-September 2023-24. Karnataka followed Maharashtra.

ADB’s USD 125 million loan to L&T Finance aims at empowering women, farmers and MSMEs in India

• Non-banking financial company L&T Finance has signed a USD 125 million loan pact with the Asian Development Bank (ADB) to support financing in rural and peri-urban areas in India, particularly for women borrowers.
• The funding comprises a loan of up to USD 125 million from ADB, and an agreement to syndicate an additional USD 125 million co-financing from other development partners.
• At least 40 per cent of the proceeds is allocated for women borrowers, while the rest will support farmers, micro, small and medium-sized enterprises (MSMEs), and loans to purchase new two-wheelers, among others.
• By focusing on lending in rural and peri-urban areas of lagging states in India, the project is strategically aligned with the goals of the Ministry of Rural Development.

CURRENT AFFAIRS: NATIONAL NEWS

MoRD and MoA&FW launched the training of Krishi Sakhis for the promotion of Natural Farming

• The Ministry of Rural Development and the Ministry of Agriculture and Farmers’ Welfare jointly launched the training of Deendayal Antyodaya Yojana- National Rural Livelihoods Mission (DAY–NRLM)’s Krishi Sakhis for promotion of Natural Farming.
• The initiative aimed to train and certify 50,000 Krishi Sakhis in a phased manner by the National Centre for Organic and Natural Farming (NCONF), a subordinate office of the MoA&FW as the Nodal institution.
• For the 5-day training course training modules have been prepared by NCONF and sent to the National Institute of Agricultural Extension Management (MANAGE) for the final review.
• To strengthen the economic status of the SHGs, the Ministry of Agriculture & Farmers’ Welfare and the Ministry of Rural Development have decided to converge their various Schemes.
• To this effect, an MoU was signed between MoA&FW and DAY – NRLM, MoRD on 30th August 2023 to certify Krishi Sakhis as Para-Extension Workers by MANAGE, MoA&FW.

Ministry of Rural Development organised 4th Consultative Workshop in collaboration with Tamil Nadu SRLM on “Women’s Economic Empowerment through Promotion of Producer Collectives”

• The Deendayal Antyodaya Yojana- National Rural Livelihoods Mission (DAY-NRLM), Ministry of Rural Development, Government of India organised the fourth consultative workshop, in collaboration with Tamil Nadu state mission of DAY-NRLM on the theme of "Women's Economic Empowerment through Promotion of Producer Collectives”.
• Participants from seven states- Tamil Nadu, Kerala, Odisha, Puducherry, Andhra Pradesh, Telangana and Karnataka along with some eminent stakeholders from government, private and social sector organizations joined the workshop.
• Additional Secretary, Rural Livelihoods, Shri Charanjit Singh reiterated the commitment of DAY-NRLM to partner with State SRLMs (State Rural Livelihoods Mission) in the spirit of convergence and whole of government approach.
• He added that they aim to weave an array of support for income generation among SHG women, leveraging partnerships with institutions, converging with government schemes and fostering collectivization.
• He emphasized on focused sector-based interventions across the country

Food Subsidy Budget Estimate to Reach Rs 2.3 Trillion for FY25

• India’s food subsidy is likely to be Rs 2.3 trillion for FY25.
• The central government food subsidy outlay will likely be Rs 2.3 trillion for the FY25.
• India’s revised estimate of food subsidy for FY24 has increased by Rs 17000 crores to Rs 2.14 trillion.
• The revised food subsidy has increased due to an increase in the minimum support prices (MSP) for key crops.
• The food subsidy budget estimate for FY25 is likely to be around 7% more than the FY24 revised estimate.
• The increase in the food subsidy in the current financial year will not affect the government's aims of containing the fiscal deficit at 5.9% of GDP.
• This year’s MSP increase is the highest since 2018-19 for all rabi and kharif crops.
• The MSP of wheat has been raised by 7.05% to Rs 2,275/quintal for 2024-25.
• Under Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), the government is providing free grains to the NFSA beneficiaries.

CURRENT AFFAIRS: STATE NEWS

Vijayawada Railway Station gets Platinum Certification

• Vijayawada Railway Station has been given Platinum Certification- The Highest Standard IGBC (Indian Green Building Council) Rating at the Green Building Congress held at Chennai Trade Centre.
• Senior officers of the Railways received the certification for Vijayawada Railway Station.
• Divisional Railway Manager, Vijayawada Division, Narendra A. Patil termed it as “Historic & Prestigious Moment” for Vijayawada Division.

Gujarat gets a state fish: Why ghol, the ‘fisherman’s lottery’, was chosen

• The black-spotted croaker, or the ghol fish — considered a fisherman’s lottery — was declared the state fish of Gujarat.
• The Gujarat government chose the ghol because of its economic value and its uniqueness.
• The fish is usually found in the Indo-Pacific region that stretches from the Persian Gulf to the Pacific Ocean.
• The declaration will enable Gujarat to be a part of its conservation efforts.
• Ribbon fish, pomfret, and Bombay Duck were the other species that were considered for designation as state fish.

Key Highlights

• Ghol fish is one of the largest fish found in India. It is found in the marine areas of Gujarat and Maharashtra in a golden-brown colour.
• What makes this fish to be called as ‘Sea Gold’ is a pouch in its stomach, which has potent medicinal properties and has a high valuation in the overseas market.
• During the year 2021-22, the total fish production of Gujarat was estimated at 8.74 lakh tonne, worth Rs 11,221 crore. Of this, 2.3 lakh tonne of fish and fish products worth Rs 5,233 crore were exported.

CURRENT AFFAIRS: BUSINESS NEWS

Titan tops Rs 3 lakh crore market-capitalisation

• Titan crossed ₹3 lakh crore in market value in a glittering testimony to the local consumer's swift ascent along the luxury gradient.
• Titan became only the second company from the Tata Group to cross a valuation threshold earlier breached by Tata Consultancy Services (TCS).
• Titan is also the second company in the retail sector, after DMart's parent Avenue Supermart, to surpass this benchmark.
• Titan, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation, is active in several businesses such as jewellery, eye care, fragrances and fashion accessories with brands that include Tanishq, Mia, Zoya, Fastrack, Sonata, Eyeplus, Taneira, Skinn and Caratlane.

About Titan

• Titan Company Limited is an Indian company that mainly manufactures luxury fashion accessories such as jewellery, watches and eyewear.
• Owner: Tata Sons. Headquarters: Bengaluru.
• Titan Company's MD CK Venkataraman

CURRENT AFFAIRS: AWARDS AND HONOURS

NHPC conferred with ‘The Economic Times HR World Exceptional Employee Experience Award 2023’

• NHPC has won the prestigious ‘The Economic Times HR World Exceptional Employee Experience Award 2023 (ET HR WORLD EX Awards) in ‘Large Scale Enterprise’ category.
• The award was presented in a glittering ceremony organized by ET HR World at Bengalur
• The Award has been conferred to NHPC in recognition to its wide range of Employees Centric HR initiatives which are not limited to employees only but also extended to their families.
• It is also a recognition to NHPC’s organizational culture, which despite of tough geographic and climatic challenges, is not only nurturing the employees during their service but also extending good care & support after their superannuation.
• NHPC has been excelling in such a competitive business environment that speaks on its own about the employees experience which is nourished with trust and belongingness, strong employee-centric communication verticals, multi-dimensional rewards schemes for employees and their family members, Diversity & Inclusion initiatives for being an equal opportunity employer, Skill upgradation, Learning & Development initiatives etc.

CURRENT AFFAIRS: MOUS AND AGREEMENT

National Academy of Customs, Indirect Taxes and Narcotics (NACIN) and National Academy of Direct Taxes (NADT) sign a Memorandum of Understanding (MoU) for sharing of resources

• The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) and the National Academy of Direct Taxes (NADT) signed a Memorandum of Understanding (MoU) for sharing resources, such as best practices, expert faculty, training materials and innovative technologies.
• The MoU was signed by Shri Jayant Diddi, Principal Director General (Trg.), NADT, and Dr. K.N. Raghavan, Director General, NACIN.
• Member Administration CBDT Shri Ravi Agrawal, Member (Administration and Vigilance), CBIC, Shri Alok Shukla, ADG, NACIN, Shri Ramesh Chander and other senior officers from both academies were also present.

Key Highlights

• NACIN and NADT mutually recognise the value of collaboration in sharing resources, such as best practices, expert faculty, training materials, and innovative technologies.
• This collaboration is keenly focused on areas of shared interest including taxation, law and legal systems, commercial and procedural laws, economic and administrative law, collaborative efforts, including sharing of resources and pedagogies in cutting edge Investigation Techniques such as Data Analysis, Dark Web Exploration and Risk Management and ethics fall within the ambit of this MoU.
• The MoU will facilitate both the Central Training Institutes to establish cooperation in sharing resources and best practices for the mutual benefit of officers from CBIC and CBDT and carries provision for reciprocal training programmes for officers of both services including a structured attachment of officer trainees.

ABOUT NACIN

• NACIN is the apex training institute established to train the Officer trainees of Indian Revenue Service (Customs & Indirect Taxes) and also imparts in-service training for all officers and cadres under the Central Board of Indirect Taxes and Customs (CBIC). The new campus of NACIN coming up at Palasamudram is expected to be commissioned shortly. NACIN is also contributing immensely in international capacity building in the areas of Customs, Drug Law Enforcement and other Indirect Tax related issues by way of training and exchange of other capacity-building resources with partner countries.

ABOUT NADT

• NADT Nagpur is the apex training Institute established to train the Officer Trainees of Indian Revenue Service (Income Tax) and number of in-service courses for the middle to senior management level officials of the Central Board of Direct Taxes (CBDT).

CURRENT AFFAIRS: SPORTS NEWS

Pankaj Advani won the IBSF Billiards Championship 2023.

• Pankaj Advani won the IBSF World Billiards Championship title in Doha.
• It was his 26th world title.
• He defeated opponent Sourav Kothari with a 1000-416 margin in the final.
• Kothari took the initial lead and was going strong but faltered on a couple of easy chances.
• Advani won his first world title in 2003.
• He is the only player to win world titles in all formats of both billiards and snooker.
• He has won the 'point format’ championship on eight occasions while the 'long format' for nine times.
• IBSF World Billiards Championship is a premier, international, non-professional tournament of billiards.

ICC Bans Transgender Players From International Women's Cricket

• The International Cricket Council (ICC) banned transgender cricketers from participating in women's cricket at the highest level in a major policy decision.
• Transgender players who have undergone any form of male puberty will be banned from competing in international women's sports, whether or not they have undergone surgery or gender transition treatment.
• The ICC said that it is taking this decision for the integrity of the international women's game and the safety of the players.
• The Board finalized the new policy after a nine-month consultation process with cricket stakeholders, with the final decision taken by the Board.
• The decision came two months after Canada's Danielle McGahey became the first transgender cricketer to feature in an official international match when she featured in the Women's T20 match against Brazil.
• However, she will no longer be able to participate in women's international games.
• Transgender athletes have been banned from taking part in elite women's competitions in other sports such as swimming, cycling, athletics, rugby league, and rugby union.
• Bowling teams in men's ODI and T20Is will be imposed a five-run penalty if the bowler exceeds the 60-second limit of bowling the next over for the third time in an innings,
• The CEC agreed to introduce a stop clock on a trial basis in men's ODI and T20I cricket from December 2023 to April 2024.
• The clock will be used to regulate the amount of time taken between overs.

ICC moves men’s U19 World Cup from Sri Lanka to South Africa

• The ICC moved next year's men's U-19 World Cup from Sri Lanka to South Africa, 11 days after the world governing body provisionally suspended the island nation's cricket board due to government interference.
• The International Cricket Council (ICC) Board met in Ahmedabad and "confirmed the terms of the suspension" of Sri Lanka Cricket (SLC) and also the shifting of the age-group showpiece.
• South Africa hosted the U19 WC in 2020.
• The SLC and the country's sports ministry have been at loggerheads for some time now.
• The government had accused SLC officials of being involved in corruption and mismanagement.

About ICC

• The International Cricket Council is the global governing body of cricket. It was founded as the Imperial Cricket Conference in 1909 by representatives from Australia, England, and South Africa.
• It was renamed as the International Cricket Conference in 1965 and adopted its current name in 1987.
• Headquarters: Dubai, United Arab Emirates.
• CEO: Geoff Allardice, Chairman: Greg Barclay.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day for the Elimination of Violence Against Women: 25th November

• International Day for the Elimination of Violence Against Women 2023 is observed on the 25th of November 2023.
• On November 25, 1960, the Mirabal sisters of the Dominican Republic were assassinated by dictator Rafael Trujillo.
• The sisters, who had been active in movements against the Trujillo regime, were beaten and strangled to death, then placed in a Jeep that was driven off a mountainous road in order to make their deaths appear accidental.
• According to a report by the United Nations, 19 percent of women between the ages of 15 and 49 years of age have experienced physical and/or sexual violence “by an intimate partner.”
• In some cases, this violence ends in the woman's death.
• In December 1999, the United Nations General Assembly designated November 25 as the International Day for the Elimination of Violence Against Women.

Daily CA One- Liner: November 25

• FDI equity inflows contracted 7.7% to $9.5 billion in the July-September quarter of FY24.
• Non-banking financial company L&T Finance has signed a USD 125 million loan pact with the Asian Development Bank (ADB) to support financing in rural and peri-urban areas in India, particularly for women borrowers.
• The Ministry of Rural Development and the Ministry of Agriculture and Farmers’ Welfare jointly launched the training of Deendayal Antyodaya Yojana- National Rural Livelihoods Mission (DAY–NRLM)’s Krishi Sakhis for promotion of Natural Farming.
• The Deendayal Antyodaya Yojana- National Rural Livelihoods Mission (DAY-NRLM), Ministry of Rural Development, Government of India organised the fourth consultative workshop, in collaboration with Tamil Nadu state mission of DAY-NRLM on the theme of "Women's Economic Empowerment through Promotion of Producer Collectives”.
• India’s food subsidy is likely to be Rs 2.3 trillion for FY25.
• Vijayawada Railway Station has been given Platinum Certification- The Highest Standard IGBC (Indian Green Building Council) Rating at the Green Building Congress held at Chennai Trade Centre.
• The black-spotted croaker, or the ghol fish — considered a fisherman’s lottery — was declared the state fish of Gujarat.
• Titan crossed ₹3 lakh crore in market value in a glittering testimony to the local consumer's swift ascent along the luxury gradient.
• NHPC has won the prestigious ‘The Economic Times HR World Exceptional Employee Experience Award 2023 (ET HR WORLD EX Awards) in ‘Large Scale Enterprise’ category.
• The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) and the National Academy of Direct Taxes (NADT) signed a Memorandum of Understanding (MoU) for sharing resources, such as best practices, expert faculty, training materials and innovative technologies.
• Pankaj Advani won the IBSF World Billiards Championship title in Doha.
• The International Cricket Council (ICC) banned transgender cricketers from participating in women's cricket at the highest level in a major policy decision.
• The ICC moved next year's men's U-19 World Cup from Sri Lanka to South Africa, 11 days after the world governing body provisionally suspended the island nation's cricket board due to government interference
• International Day for the Elimination of Violence Against Women 2023 is observed on the 25th of November 2023