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CURRENT AFFAIRS : BANKING & FINANCE

Reserve Bank of India (RBI) Takes Control of Mumbai's Abhyudaya Cooperative Bank, Disbands Board for a period of 12 Months

• In yet another instance of the regulator taking action against a bank due to governance-related concerns, the Reserve Bank of India (RBI) had superseded the board of Abhyudaya Cooperative Bank for a period of 12 months.
• Satya Prakash Pathak, former Chief General Manager of State Bank of India, has been appointed as the Administrator to manage the affairs of Abhyudaya Cooperative Bank during this period.

Reasons for Regulatory Intervention :

• This action was necessitated due to “certain material concerns emanating from poor governance standards observed in the bank”.

Key Highlights :

• Business Continuity Assurance : While the RBI has superseded the board, it clarified that no business restrictions have been imposed on the bank.
• Abhyudaya Cooperative Bank will continue its normal banking activities under the guidance of the Administrator.
• Legal Basis for RBI Intervention : The RBI invoked its powers under Section 36 AAA, in conjunction with Section 56 of the Banking Regulation Act, 1949, specifically applicable to cooperative societies.
• Regulator's Commitment to Financial Stability : The regulatory intervention underscores the RBI's commitment to maintaining the integrity and stability of financial institutions in the country.
• Committee of Advisors Appointed : In addition to the Administrator, the RBI has appointed a "Committee of Advisors" to assist in discharging duties.
• The committee members include Venkatesh Hegde (former General Manager, SBI), Mahendra Chhajed (Chartered Accountant), and Suhas Gokhale (former MD, COSMOS Co-operative Bank Limited).
• The RBI has in the past superseded boards of Yes Bank, Dewan Housing Finance, SREI twins, and Reliance Capital in the past for various reasons.

About Abhyudaya Cooperative Bank :

• Founded : June 1967
• Headquarters : Mumbai, Maharashtra, India
• Managing Director : Sitaram C. Ghandat

Mastercard Collaborates with U GRO Capital to Provide Loans to Dealers, Distributors, Last-Mile Retailers, and Other Businesses                              

• Payments company Mastercard announced a partnership with MSME lender U GRO Capital to offer short-term loans as a digital supply chain financing solution to dealers/distributors and last-mile retailers, among other small merchants and women entrepreneurs.

About the Partnership :

• Digital Supply Chain Financing : The partnership focuses on offering digital supply chain financing solutions, leveraging Mastercard's extensive network to connect stakeholders in the demand and supply side ecosystem.
• U GRO Capital will utilize its proprietary underwriting and cash flow-backed assessment model to facilitate credit to small businesses.
• Mastercard's Strategic Goal : The collaboration with U GRO Capital aligns with Mastercard’s earlier announcement to get 1 billion people and 50 million micro and small businesses, including 25 million female entrepreneurs into the digital economy by
• U GRO Capital Funding : U GRO Capital secured approximately Rs 240 crore in July from the Investment Fund for Developing Countries (IFU), a Danish development finance institution.
• The funds are intended to support MSMEs in transitioning towards environmentally sustainable business operations.
• Bank Credit to MSMEs : As of September 2023, scheduled commercial banks extended Rs 21.69 lakh crore to MSMEs under priority sector lending.
• This marks a significant increase of 17.2% from the Rs 18.50 lakh crore deployed in September 2022.
• The data is sourced from the latest sectoral deployment report from the Reserve Bank of India (RBI).

About Mastercard : 

• Founded : 1966
• Headquarters : New York, U.S
• CEO : Michael Miebach

World Bank and Bangladesh Ink 5 Financing Deals Exceeding $1.1 Billion

• The World Bank and Bangladesh have signed 5 financing agreements amounting to over $1.1 billion to support the country in achieving resilient and inclusive growth.
• The 5 projects cover diverse areas, including

1. Early childhood development
2. Urban primary health
3. Secondary education
4. Riverbank protection and navigability,
5. Gas distribution efficiency.

• The agreements were formally signed in Dhaka by Sharifa Khan, Senior Secretary of the Bangladesh Government, and Abdoulaye Seck, World Bank Country Director for Bangladesh and Bhutan.

Key Highlights :

• Funding Source : The financial support comes from the World Bank's International Development Association (IDA), emphasizing concessional loans to Bangladesh.
• Largest Ongoing IDA Program : Bangladesh currently hosts the largest ongoing IDA program, totaling $16.46 billion spread across 57 projects.
• Terms of IDA Concessional Loans : For IDA concessional loans, the maturity period is 30 years with 5 5-year grace period; the interest rate is 1.25% and the service charge is 0.75%
• Project Alignment with National Plans : The financed projects align with Bangladesh's Eighth Five-Year Plan 2021-2025, aiming to prepare children for a brighter future and enhance resilience to climate change.
• Support for National Development Goals : The projects also contribute to Bangladesh's goal of graduating from Least Developed Country (LDC) status by 2026 and advancing towards Vision 2041.
• Focus on Climate Resilience : Implicit in the agreements is a focus on climate resilience, with initiatives such as riverbank protection and navigability aimed at addressing environmental challenges.

About World Bank :

• Established : July 7, 1944
• Headquarters : Washington, D.C., United States
• President : Ajay Banga (14th President)
• The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.

About Bangladesh :

• President : Mohammed Shahabuddin
• Prime Minister : Sheikh Hasina
• Capital : Dhaka
• Currency : Taka

SEBI Chairperson Launches Investor Risk Reduction Access Platform to Enhance Investor Risk Reduction                       

• The Securities and Exchange Board of India (SEBI) has officially launched the Investor Risk Reduction Access (IRRA) platform at the Bombay Stock Exchange (BSE).
• Market Infrastructure Institutions (MIIs) have played a key role in conceptualising and implementing the innovative IRRA platform.
• The platform aims to revolutionize the investor experience by addressing potential risks arising from technical glitches at the trading member level, providing an additional layer of protection.
• Mitigating risk in the financial markets is an ongoing effort, and the IRRA platform has emerged as a proactive measure by SEBI to protect investors in the event of technical disruptions.
• The IRRA platform underwent a soft launch on October 3, 2023, followed by its official launch on November 20, 2023.
• The platform is specifically designed for investors engaged in Internet-based trading and security trading via wireless technology, excluding algo trading and institutional clients.
• However, the IRRA is intended to give an additional layer of protection for investors who engage in Internet-based and wireless technology-driven trading.

What is the IRRA platform?

• IRRA platform has been developed to reduce risks faced by investors in the eventuality of technical glitches at the trading member’s end at both the primary site and disaster recovery site.
• Purpose : To provide investors with an opportunity to square off/close their open positions and cancel pending orders using the IRRA platform in case of technical glitches or unforeseen outages that render the trading member’s site inaccessible.
• It is not meant for taking fresh positions or orders, but only to cancel the pending orders.
• IRRA has been jointly developed by all the stock exchanges – BSE, NSE, NCDEX, MCX and Metropolitan Stock Exchange of India (MSE) and was launched by Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch.

How will the IRRA platform work?

• IRRA can be invoked by trading members when they are faced with a technical glitch at their end impacting their ability to service clients across exchanges from both – the primary site and disaster recovery site, where relevant.
• Even stock exchanges can also monitor parameters like connectivity, order flow and social media posts, and suo moto initiate the enablement of the IRRA service, if needed, irrespective of any such request by the trading member, according to SEBI.
• This service shall be enabled by the exchanges, suo moto, only in case of disruption of trading services of trading member across all the exchanges, where the trading member is a member
• On invocation, after basic checks, the platform downloads trades of the trading member from all the trading venues and sends SMS/email to investors using internet trading or wireless technology along with a link to access IRRA.

How will the platform help investors?

• Once the investors are authorized to access the IRRA platform, investors can view and cancel pending orders across all segments and all stock exchanges from the order book, square off/close the open positions across segments and exchanges and cancel the orders across segments which are pending at the exchanges.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI. 

CURRENT AFFAIRS: NATIONAL NEWS

India, Australia discuss defence ties at 2+2 Ministerial Dialogue

• Defence Minister Rajnath Singh and External Affairs Minister S Jaishankar met Australian Deputy Prime Minister and Defence Minister Richard Marles and Foreign Minister Penny Wong as part of the second India Australia 2+2 Ministerial Dialogue.
• The 2 + 2 is a unique ministerial dialogue that brings senior ministers together in a bilateral setting.
• India maintains Ministerial Dialogue format only with a few key partners like Australia, the United States, Japan, Russia and the United Kingdom.
• This will be only the second 2+2 Ministerial Dialogue round with India’s Quad partner Australia after the first round was held in 2021.
• They exchanged perspectives on deepening multifaceted ties in numerous areas.
• These encompass defence and security, change and funding, crucial minerals, energy, weather change, Science and Technology, space, training and those to human beings linkages.
• Regional and international problems have been additionally mentioned.
• They mentioned cooperation for joint studies in underwater technologies, and collaboration among defence start-ups of each of the international locations, which includes fixing demanding situations jointly.
• India and Australia are presently engaged in superior negotiations for a complete economic cooperation settlement (CECA) as a way to construct at the Economic Cooperation and Trade Agreement (ECTA) signed in April 2022.

Government takes apex cyber security agency out of public’s right to know

• THE CENTRE has exempted the Indian Computer Emergency Response Team (CERT-In), the national nodal agency to deal with cyber security threats like hacking and phishing, from the purview of the Right to Information Act, 2005.
• The Centre has used its powers given under sub-section (2) of Section 24 of the RTI Act to exempt CERT-In from the purview of the transparency law.
• Using those powers, the Centre has included CERT-In at serial number 27 in the Second Schedule of the RTI Act.
• The CERT-In comes under the Ministry of Electronics and Information Technology.
• In March this year, Minister of State for Electronics and Information Technology Rajeev Chandrasekhar had informed Rajya Sabha that the “procedure of inter-departmental consultation” was on to discuss exemption of the CERT-In from the RTI Act.
• With inclusion in the Second Schedule of the RTI Act, the CERT-In now joins the list of 26 other intelligence and security organisations, which are already exempted from the purview of the Act.
• These 26 intelligence and security organisations are: Intelligence Bureau; Research and Analysis Wing including its technical wing namely, the Aviation Research Centre of the Cabinet Secretariat; Directorate of Revenue Intelligence; Central Economic Intelligence Bureau; Directorate of Enforcement; Narcotics Control Bureau; Special Frontier Force; Border Security Force; Central Reserve Police Force; Indo-Tibetan Border Police; Central Industrial Security Force; National Security Guards; Assam Rifles; Sashtra Seema Bal; Directorate General of Income-tax (Investigation); National Technical Research Organisation; Financial Intelligence Unit, India; Special Protection Group; Defence Research and Development Organisation; Border Road Development Board; National Security Council Secretariat; Central Bureau of Investigation; National investigation Agency; National Intelligence Grid; and Strategic Forces Command.
• Under Section 24 of the RTI Act, certain organisations are exempted from the law.
• The RTI law empowers the Central Government to amend the Second Schedule by including therein any other intelligence or security organisation established by it or omitting therefrom any organisation already specified therein.

54th International Film Festival of India in collaboration with UNICEF screens five films

• The 54th International Film Festival of India (IFFI) in collaboration with UNICEF is screening five films that deal with child rights.
• Out of five films, two are from India, while three are from Iran and Sri Lanka.
• Two Indian films include the national award-winning Bengali film Damu, directed by Raja Sen.
• The film is about an orphan boy, sheltered and raised by a kind man.
• The second Indian film is the Manish Saini-directed Gujarati movie ‘Gandhi & Co.’
• The film, which revolves around two mischievous boys, has also bagged National Film Awards.
• Three foreign films include the Persian film ‘For the Sake of Ava’ directed by Iranian filmmaker Mohsen Seraji; the Sinhalese film ‘Peacock Lament’, directed by Sanjeewa Pushpakumara and the Persian film ‘Singo’, directed by Alireza Mohammadi Rouzbahany.
• These films reflect on the dynamic forces that shape childhood and examine its socio-economic contexts.
• This year, UNICEF and the National Film Development Corporation (NFDC), the organizer of IFFI, have partnered to focus the attention of the film industry and audiences on child rights.
• The partnership draws attention on the portrayal of violence against children, adolescents, and women in films.
• NFDC’s partnership with UNICEF at IFFI underscores the efforts to create more awareness on the issues and generate wider discourses on child rights.

CURRENT AFFAIRS : INTERNATIONAL NEWS

UAE Unveils World's Largest Single-Site Solar Power Plant in Anticipation of COP28             

• The United Arab Emirates (UAE) has inaugurated the world's largest single-site solar power plant ahead of the upcoming United Nations Climate Change Conference (COP28).
• The 2-gigawatt Al Dhafra Solar Photovoltaic Independent Power Project (IPP) is located 35 kilometres from Abu Dhabi city and will generate enough electricity to power almost 200,000 homes.
• The plant is expected to displace 2.4 million tonnes of carbon emissions annually.
• The project was inaugurated by Sheikh Hazza bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi, and in the presence of Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior.
• The project was developed by Abu Dhabi Future Energy Company (Masdar) and its partners Abu Dhabi National Energy Company (TAQA), EDF Renewables and JinkoPower.
• It was procured by Emirates Water and Electricity Company (EWEC).
• The plant uses almost 4 million solar panels which deploy innovative bi-facial technology, ensuring sunlight is captured on both sides of the panels to maximise yield.
• The project broke records in terms of cost for utility-scale solar projects.
• Initially the project led to one of the most competitive tariffs for solar power set at AED 4.97 fils/kWh (USD 1.35 cents/kWh), which upon financial close, was further improved to AED 4.85 fils/kWh (US$ 1.32 cents/kWh).
• The project also aligns with the UAE's Net Zero 2050 goal, reinforcing its leadership in solar energy production on a per capita basis.
• The project is also a testament to the UAE's commitment to hosting a successful COP28.
• The UAE will host the United Nations Climate Change Conference from November 30th to December 12, 2023.

About UAE :

• President : Mohamed bin Zayed Al Nahyan
• Prime Minister : Mohammed bin Rashid Al Maktoum
• Capital : Abu Dhabi
• Currency : UAE dirham

4th Cyclonic Storm of the Year, 'Michaung,' Anticipated to Impact Bay of Bengal                    

• A cyclonic storm named 'Michaung' is predicted to occur in the Bay of Bengal basin.
• 'Michaung' marks the 4th cyclonic storm in the Bay of Bengal for the year and the 6th in Indian water bodies in the current year.
• The cyclonic storm is expected to affect regions in India, Bangladesh, and
• Numerical models suggest that more storms may form due to unfavorable weather conditions in the region.
• Cyclonic storm 'Michaung' originated in the Gulf of Thailand, contributing to its development.
• Odisha, West Bengal, and Bangladesh are identified as more vulnerable to the impact of cyclonic storms.
• The name 'Michaung' has been suggested by Myanmar, following the naming conventions for cyclonic storms.

What is a Cyclone?

• A cyclone is defined as a rapid inward air circulation in and around a low-pressure (LP) area.
• Cyclones are limited to the atmosphere between 30° N and 30° S latitudes.
• Cyclones usually form in the months between April and December.
• A pre-monsoon spike in cyclonic conditions occurs in May while a post-monsoon peak takes place in November.
• Cyclones in India : Tropical cyclones in the North Indian Ocean region develop during the pre-monsoon (April to June) and post-monsoon (October to December) periods.

Types of Cyclones :

• Tropical Cyclones : Characterised by winds exceeding 74 mph and heavy rainfall.
• Severe Cyclonic Storms : More intense than tropical cyclones, with stronger winds and potential for storm surges.
• Very Severe Cyclonic Storms : Even more powerful, leading to extreme wind speeds and torrential rainfall.
• Super Cyclones : The most intense and destructive cyclones with wind speeds exceeding 131 mph, causing widespread devastation.

CURRENT AFFAIRS : STATE NEWS

World’s first 3D printed temple comes up in Telangana's Siddipet

• Telangana has unveiled the world's first 3D-printed temple, located at Burugupally in Siddipet district.
• The construction of the temple, achieved through a three-month 3D printing process, represents a significant technological milestone.

Key Highlights :

• Structure Details : The 3D-printed temple covers an area of 4,000 square feet and stands at a height of 35.5 feet.
• It is composed of three distinct parts, each serving as a sanctum dedicated to a different deity.
• The temple consists of three sanctums, each dedicated to a different deity.
• Deities Represented : The temple's sanctums include a modak dedicated to Lord Ganesha, a square Shivalay dedicated to Lord Shankar, and a lotus-shaped sanctuary for Goddess Parvati.
• Innovative Design and Construction : These sacred spaces were carefully designed using locally developed materials and software as well as an in-house system.
• The sanctum demonstrates the ingenuity of 3D printing technology; the remaining elements of the temple, such as pillars, slabs, and floors, were created using traditional building techniques.
• The temple was built by Hyderabad Apsuja Infratech in collaboration with additive manufacturing solutions provider Simpliforge Creations.

About Telangana:

• Capital: Hyderabad
• Governor: Tamilisai Soundararajan
• Chief minister: K. Chandrashekar Rao

Uttar Pradesh Government To Transform Bundelkhand Expressway Into Solar Expressway & Targeting 550 MW Of Solar Power Generation                         

• The Uttar Pradesh (UP) government is planning to install solar plants spanning 1700 hectares along the Bundelkhand Expressway.
• The solar plants are expected to collectively generate 550 MW of solar power, contributing significantly to the state's renewable energy capacity.
• The Uttar Pradesh Expressway Industrial Development Authority (UPEIDA) will be responsible for executing this ambitious solar power project.
• The Due Diligence Study for the project has been successfully completed, and the Expression of Interest (EOI) phase concluded in August 2023.
• The project is designed to operate for 25 years, providing electricity to over 1 Lakh houses situated along the Bundelkhand Expressway.
• Bundelkhand Expressway traverses 7 districts, namely Chitrakoot, Banda, Mahoba, Hamirpur, Jalaun, Auraiya, and Etawah, enhancing the reach and impact of the solar power initiative.
• The Bundelkhand Expressway is a 296 km long four-lane expressway, constructed at a cost of approximately Rs 14,850 crores.

About UP :

• Governor : Anandiben Patel
• Chief Minister : Yogi Adityanath
• Capital : Lucknow
• National Park : Dudhwa National Park
• Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary

Maharashtra Chief Minister Eknath Shinde Inaugurates Shivaji Maharaj Statue in Jammu & Kashmir's Kupwara            

• Maharashtra Chief Minister (CM) Shri Eknath Shinde inaugurated an equestrian statue of Chhatrapati Shivaji Maharaj in Jammu & Kashmir's Kupwara.
• The equestrian statue of the Maratha king was installed at the Rashtriya Rifles 41 Maratha Light Infantry Regiment in Kupwara, which borders Pakistan.
• The statue was installed in Kupwara in a collaboration with Amhi Punekar organization, and 41 Rashtriya Rifle Maratha Battalion.
• The statue was sent to Kupwara from Maharashtra on October 20 and was handed over to the RR41MLI Regiment for the installation.
• The Chief Minister also stated that the state government will provide necessary support for the Shivaji memorial which is being built in Kupawara.
• Previously, two other statues of Chhatrapati Maharaj were unveiled by the Maratha Regiment in Jammu and Kashmir in January 2022.
• Among the two, one of them was installed at an altitude of 14,800 ft above sea level near the LoC.

About Maharashtra :

• Governor: Ramesh Bais
• Chief Minister: Eknath Shinde
• Capital: Mumbai
• National Park: Tadoba National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife Sanctuary
• UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves

CURRENT AFFAIRS: AWARDS AND HONOURS

NHPC conferred 2nd prize under 'Annual Report' category of 'PRSI National Awards 2023'

• NHPC Limited, India’s premier hydropower company, has won the 2nd prize under the 'Annual Report' category of 'PRSI National Awards 2023'.
• The award was presented during the International Public Relations Festival organized by the Public Relations Society of India (PRSI) from 25th to 27th November 2023 in New Delhi.
• The award recognizes the overall high-quality, layout and design of NHPC Annual Report 2022-23.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Reliance General Insurance Company And Animal Digital Identification System (ADIS) Join Forces To Introduce Revolutionary Animal Identity Cards

• Reliance General Insurance Company Limited (RGICL), India’s leading general insurance company, has partnered with the Animal Digital Identification System (ADIS) to introduce unique Animal Identity Cards.
• This initiative promises to bring immense benefits to farmers, insurance providers, and, most importantly, the welfare of the animals themselves.
• The introduction of Animal Identity Cards represents a significant leap towards enhancing accountability in the animal husbandry sector.
• These cards are equipped with QR codes containing vital animal information, including breed, age, medical history, and ownership details.
• ADIS, a trusted provider of animal tracking and data management solutions, has developed a secure database that stores comprehensive information about the animals, ensuring the integrity of the Animal Identity Cards.
• The partnership between RGICL and ADIS to introduce Animal Identity Cards for cattle and livestock marks a major milestone in animal husbandry and welfare.

About ADIS

• ADIS(Animal Digital Information Systems) is an app for Animal management used to digitally manage the animals based on animal biometrics
• Rakesh Jain, CEO of Reliance General Insurance Company Limited.

Blue Dart, India Post enters into strategic partnership, introduces automated digital parcel lockers

• Blue Dart Express Limited announced that it has entered into a partnership with India Post.
• With this collaboration, Blue Dart is introducing automated digital parcel lockers at selected post offices, offering customers an additional delivery method.
• This innovation allows consignees to conveniently retrieve their shipments from digital parcel lockers, doing away with the need for personal receipts or signing for a package.
• Blue Dart has teamed up with Podrones, a last-mile technology and parcel locker company, to power this initiative.
• Fusing Forces, India Post’s Smart Parcel delivery system (ANVIT) teams up with Blue Dart‘s expertise to harness the potential of Smart Parcel technology for redefining the landscape of efficient and reliable logistics solutions.
• Blue Dart Express offers secure and reliable delivery of consignments to over 56,000+ locations in India.
• Balfour Manuel, Managing Director, Blue Dart.

AIFF signs MoU with Odisha Government on FIFA-AIFF Academy in presence of Arsene Wenger

• The All India Football Federation (AIFF) and the Government of Odisha in the presence of Mr Arsène Wenger, FIFA’s Chief of Global Football Development, signed a Memorandum of Understanding (MoU) to set up the AIFF-FIFA Talent Academy at the Odisha Football Academy in Bhubaneswar.
• The MoU between the two was signed by the AIFF President Mr. Kalyan Chaubey and Mr. R Vineel Krishna, Commissioner-cum-Secretary, Department of Sports and Youth Services, Government of Odisha. Mr. Tushar Kanti Behera, Sports Minister of Odisha was present.
• The AIFF-FIFA Talent Academy is the first of its kind in India, which is a testament to Odisha's rapidly growing standards as a global sports hub.
• The academy presently has two dedicated practice grounds with facilities to host approximately 50 trainees in a residential system.
• Spain’s Sergi Amezcua Fontrodona will be the head coach for two years.
• FIFA will soon finalise a team of support staff to start the training programme.

NIDM, TERI sign strategic partnership in disaster risk reduction

• The National Institute of Disaster Management (NIDM) has signed a Memorandum of Understanding (MoU) with The Energy and Resources Institute (TERI) to forge a strategic partnership in disaster risk reduction.
• Executive Director of NIDM Rajendra Ratnoo, that this partnership si gnifies a joint commitment to contribute to the national agenda of disaster risk reduction, reinforcing the importance of collaboration in building a resilient and safer India.
• The MOU will serve as a platform to formalise the strategic partnership and facilitate research, capacity building, and training.
• According to NIDM currently 260 universities and institutions are part of the disaster risk reduction programme.

CURRENT AFFAIRS: RANKING AND INDEX

Eight Indians, PIOs, including World Bank's Ajay Banga and Ola's Bhavish Aggarwal, in Time 100 Climate list

• Eight individuals of Indian origin, including World Bank President Ajay Banga and Ola Electric co-founder Bhavish Aggarwal, have been recognized in Time magazine's inaugural 'Time 100 Climate' list.
• This list highlights influential leaders driving real climate action in various fields.
• The Time 100 Climate list features global CEOs, founders, philanthropists, musicians, policymakers, and government officials, coinciding with the upcoming 2023 UN Climate Change Conference in the United Arab Emirates.
• The list includes notable figures such as Rajiv J Shah, president of The Rockefeller Foundation; Geeta Aiyer, founder and president of Boston Common Asset Management; Jigar Shah, director of the US Department of Energy Loan Programmes Office; Manoj Sinha, CEO and co-founder of Husk Power Systems; Seema Wadhwa, executive director for environmental stewardship for Kaiser Permanente; and Amit Kumar Sinha, managing director and CEO of Mahindra Lifespaces.
• World Bank President Ajay Banga, who began his term in June, is focusing on eradicating poverty while addressing climate change, emphasizing the importance of clean air and water.
• Bhavish Aggarwal, co-founder of Ola Electric, is leading efforts to electrify India's predominantly moped and scooter-based transportation, with the recent launch of an affordable electric scooter.
• Rajiv Shah's The Rockefeller Foundation collaborates on initiatives such as the Coal to Clean Credit Initiative, aiming to transition from coal-fired power plants to renewable energy.
• Geeta Aiyer's Boston Common Asset Management, a sustainable investment firm, prioritizes climate change mitigation through shareholder engagement.
• Amit Kumar Sinha, CEO of Mahindra Lifespaces, ensures sustainable development in real estate, focusing on water efficiency, passive energy design, and renewables.
• Manoj Sinha's Husk Power Systems, operating minigrids across Asia and Africa, achieved profitability in India and Nigeria.
• Seema Wadhwa, leading environmental stewardship for Kaiser Permanente, aims for net-zero emissions by 2050, with the company's Santa Rosa facility recognized as the US's first net-zero medical facility.
• Jigar Shah, director of the US Department of Energy Loan Programmes Office, oversees significant investments in clean infrastructure and energy projects.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Comptroller and Auditor General Girish Chandra Murmu elected as Vice-Chair of UN Panel of Auditors                                           

• Comptroller and Auditor General of India (CAG) Girish Chandra Murmu has been elected as the Vice-Chair of the UN Panel of Auditors for the year 2024.
• Murmu actively participated in the 63rd session of the Panel of External Auditors, which took place in New York, the United States of America (USA) on 20-21 November 2023.
• The Panel of External Auditors consists of the heads of 12 Supreme Audit Institutions (SAIs) from around the world.
• The primary responsibility of the Panel is to oversee the external audit of the UN Secretariat, funds, programs, and specialized agencies.
• The 63rd session of the Panel, chaired by Isma Yatun, Chair of the Audit Board of the Republic of Indonesia, was conducted at the United Nations Headquarters in New York from 20-21 November 2023.
• The Panel elected Pierre Moscovici, President of the French Supreme Audit Institutions, as its Chair for 2024 and decided that the next session of the Panel would take place in Paris on 9-10 December 2024.

About Girish Chandra Murmu :

• He is a retired 1985 batch IAS officer of Gujarat cadre and was principal secretary to Narendra Modi during his tenure as the Chief Minister of Gujarat.
• He was the Inaugural Lieutenant Governor of the Union Territory of Jammu and Kashmir till 6 August 2020.
• In May 2023, he was re-elected as external auditor of the World Health Organisation (WHO) for a 4 year term from 2024 to 2027.
• He is also the chairman of the United Nations Panel of External Auditors and the Asian Organization of Supreme Audit Institutions.

CURRENT AFFAIRS : OBITUARIES

Former Mr India Nongthombam Maipak passed away                                     

• Nongthombam Maipak, former Mr India title holder and veteran body builder of Manipur popularly known as Mister Maipak passed away at the age of 88 in Imphal, Manipur.

About Nongthombam Maipak :

• Maipak was born on June 12, 1935 at Uripok Sorbon Thingel Sinam Leikai in Imphal West district as the second son of late N Komol Singh and Tampaklei Devi.
• Maipak also known as ‘Son of Manipur’.
• He earned the prestigious Mr India title in 1970, marking a significant achievement in the field of bodybuilding.
• He represented India in the Mr Universe competition held in Paris (France) from September 25-26, 1971.
• During the competition, he received recognition for the 'Best Indian Style Mythological Pose' and secured the 10th position overall.
• In addition to bodybuilding, Maipak excelled as a versatile athlete, participating in hammer throw, shot put, and discus throw events.
• He once broke the national records on behalf of Manipur team in hammer throw competition during National Games held at Delhi in 1958.

CURRENT AFFAIRS: SPORTS NEWS

Novak Djokovic Wins Record 7th ATP Finals Title After Downing Jannik Sinner In Straight Sets

• The top-ranked Djokovic won a record-breaking seventh ATP Finals title with a straight-set victory over home favourite Jannik Sinner.
• He started 2023 with a record-extending 10th Australian Open title and went on to claim his 23rd Grand Slam singles trophy at the French Open, breaking Rafael Nadal’s mark.
• Djokovic, who lost the Wimbledon final to Carlos Alcaraz, also won the U.S. Open.
• After this tournament, Djokovic will become the first player to hold the No. 1 ranking for 400 weeks, with Roger Federer at 310 the only other man to eclipse the 300-week mark.
• It was also only the second time in the last 15 years that a player has made the finals of all four Grand Slam tournaments and the ATP Finals.
• The only previous occasion was when Djokovic did it in 2015.

Daily CA One- Liner: November 28

• In yet another instance of the regulator taking action against a bank due to governance-related concerns, the Reserve Bank of India (RBI) had superseded the board of Abhyudaya Cooperative Bank for a period of 12 months.
• Payments company Mastercard announced a partnership with MSME lender U GRO Capital to offer short-term loans as a digital supply chain financing solution to dealers/distributors and last-mile retailers, among other small merchants and women entrepreneurs.
• The World Bank and Bangladesh have signed 5 financing agreements amounting to over $1.1 billion to support the country in achieving resilient and inclusive growth.
• The Securities and Exchange Board of India (SEBI) has officially launched the Investor Risk Reduction Access (IRRA) platform at the Bombay Stock Exchange (BSE).
• Union Defence Minister Rajnath Singh and External Affairs Minister S Jaishankar met Australian Deputy Prime Minister and Defence Minister Richard Marles and Foreign Minister Penny Wong as part of the second India Australia 2+2 Ministerial Dialogue
• THE CENTRE has exempted the Indian Computer Emergency Response Team (CERT-In), the national nodal agency to deal with cyber security threats like hacking and phishing, from the purview of the Right to Information Act, 2005
• The 54th International Film Festival of India (IFFI) in collaboration with UNICEF is screening five films that deal with child rights
• NHPC Limited, India’s premier hydropower company, has won the 2nd prize under the 'Annual Report' category of 'PRSI National Awards 2023'
• Reliance General Insurance Company Limited (RGICL), India’s leading general insurance company, has partnered with the Animal Digital Identification System (ADIS) to introduce unique Animal Identity Cards
• Blue Dart Express Limited announced that it has entered into a partnership with India Post.
• The All India Football Federation (AIFF) and the Government of Odisha in the presence of Mr Arsène Wenger, FIFA’s Chief of Global Football Development, signed a Memorandum of Understanding (MoU) to set up the AIFF-FIFA Talent Academy at the Odisha Football Academy in Bhubaneswar.
• The National Institute of Disaster Management (NIDM) has signed a Memorandum of Understanding (MoU) with The Energy and Resources Institute (TERI) to forge a strategic partnership in disaster risk reduction
• Eight individuals of Indian origin, including World Bank President Ajay Banga and Ola Electric co-founder Bhavish Aggarwal, have been recognized in Time magazine's inaugural 'Time 100 Climate' list
• The top-ranked Djokovic won a record-breaking seventh ATP Finals title with a straight-set victory over home favourite Jannik Sinner
• The United Arab Emirates (UAE) has inaugurated the world's largest single-site solar power plant ahead of the upcoming United Nations Climate Change Conference (COP28).
• A cyclonic storm named 'Michaung' is predicted to occur in the Bay of Bengal basin.
• Telangana has unveiled the world's first 3D-printed temple, located at Burugupally in Siddipet district.
• The Uttar Pradesh (UP) government is planning to install solar plants spanning 1700 hectares along the Bundelkhand Expressway.
• Maharashtra Chief Minister (CM) Shri Eknath Shinde inaugurated an equestrian statue of Chhatrapati Shivaji Maharaj in Jammu & Kashmir's Kupwara.
• Comptroller and Auditor General of India (CAG) Girish Chandra Murmu has been elected as the Vice-Chair of the UN Panel of Auditors for the year 2024.
• Nongthombam Maipak, former Mr India title holder and veteran body builder of Manipur popularly known as Mister Maipak passed away at the age of 88 in Imphal, Manipur.