Current Affairs

23^rd November 2022

Top 21 Daily Current Affairs: National & International News

Here is the Daily Current Affairs of the 23rd November 2022 covering the following news headlines:  53 hours Challenge, SARAS AAJEEVIKA MELA 2022, UNESCO-India-Africa Hackathon 2022, Karnataka Vikas Grameena Bank.

National News

1.Union Minister Anurag Singh Thakur launched ’53 hours Challenge’

Union Minister for Information and Broadcasting and Youth Affairs & Sports Anurag Singh Thakur has inaugurated ’53 Hours Challenge’ for ‘75 Creative Minds Tomorrow’.

This is the second edition of 75 Creative Minds of Tomorrow and we have already made a community of 150 strong individuals connected through their shared love for cinema, creativity and culture.

The competition will challenge the winners of ’75 Creative Minds for Tomorrow’ to produce a short film on their idea of India@100, all in 53 hours. This is powered by National Film Development Corporation (NDFC).

Important takeaways for all competitive exams:

National Film Development Corporation Founded: 1975, Mumbai;

National Film Development Corporation Headquarters: Mumbai.

2.Giriraj Singh Inaugurated SARAS AAJEEVIKA MELA 2022 at New Delhi

Union Minister for Rural Development and Panchayati Raj Shri Giriraj inaugurated the “SARAS AAJEEVIKA MELA, 2022” at Pragati Maidan, New Delhi. Shri Singh informed that the Ministry of Rural Development has received over 60,000 applications from 3 states for start-up ventures in niche products and crafts areas.

Shri Singh informed that it was Prime Minister Shri Narendra Modi, who launched StartUp India from the ramparts of Red Fort in 2015, and now we have more than 80,000 start-ups from 400 odd start-ups in 2014.

India ranks 3rd in the world in terms of the start-up ecosystem and there are over 100 unicorns active in the country.

Women of SHG Members will have their start-ups as the proposals are under active consideration by the ministry.

The Rural Development Minister informed that NRLM has been undertaking several efforts in supporting businesses run by rural SHG women that are engaged in producing food products, handicrafts, handloom, etc.

As part of the efforts to connect producers to markets, NRLM and SRLMs have taken steps to promote curated products from SHGs and SHG member entrepreneurs through multiple channels such as Saras Gallery, State-specific retail outlets, e-Commerce platforms like GeM, Flipkart, and Amazon.

International News

3.Russia Replaces China to Become the Biggest Supplier of Fertilizers to India

Russia has become India’s biggest fertilizer supplier for the first time. Russian exporters reportedly grabbed a 21% share of the Indian fertilizer market in the first half of the 2022-23 fiscal year, overtaking China, previously India’s largest supplier.

Russian exports reportedly surged 371%, to a record 2.15 million tons from April to October. In monetary terms, India’s imports over this period increased by 765%, to $1.6 billion. Russia’s share of Indian fertilizer imports was hovering around 6% during the last fiscal year, while China’s stood at 24%. In the first half of 2022-23, China’s exports to India halved to 1.78 million tons amid growing Russian supplies.

Global prices for fertilizers jumped in March after the US, the EU and allied states introduced sanctions against fertilizer supplies from Russia and Belarus. While Western countries have since backtracked on the ban, Russia has found new markets, mostly in Asia, for its exports.

4.Canada’s Brampton city gets first turbaned Sikh Harkirat Singh as deputy mayor

Brampton city in Canada got its first turbaned Sikh deputy mayor with the appointment of Harkirat Singh. Harkirat Singh, who represents wards 9 and 10, has been appointed deputy mayor from 2022-26.

The deputy mayor presides at council and other committee meetings and assumes ceremonial and civic event duties on behalf of the mayor if the mayor is absent or unavailable.

In the present Canadian Parliament there are 18 Sikhs members. Currently Harjit Sajjan, Bardish Chagger are the two Sikhs who are ministers in the Justin Trudeau government in Canada. Prior to his role as councillor, he served a four-year term as school trustee at the Peel District School Board.

Important takeaways for all competitive exams:

Canada Capital: Ottawa;

Canada Prime minister: Justin Trudeau;

Canada Currency: Canadian Dollar.

State News

5.Tamil Nadu: Anamalai Tiger Reserve launched ‘jumbo trails’ in Coimbatore

The Anamalai Tiger Reserve (ATR) has launched ‘jumbo trails’ at Coimbatore in Tamil Nadu, a programme aimed to educate visitors to the tiger reserve about elephants, the flora, and fauna of ATR and the aboriginal tribes who live in the hills. An initiative by ATR Field Director S. Ramasubramanian and Deputy Director (Pollachi Division) Bhargava Teja, the first jumbo trail will happen on November 26.

According to Assistant Conservator of Forests V. Selvam, the jumbo trails start at ‘Anamalaiyagam’, a newly-established forest interpretation centre at Sethumadai. The programme is organised by the Advanced Wildlife Management Training Centre (Attakatti) and implemented by Keelpoonachi Eco Development Committee.

Important takeaways for all competitive exams:

Tamil Nadu Capital: Chennai;

Tamil Nadu Chief Minister: M K Stalin;

Tamil Nadu Governor: R N Ravi.

6.UP chief minister Yogi Adityanath inaugurates the UNESCO-India-Africa Hackathon 2022

Uttar Pradesh chief minister Yogi Adityanath has inaugurated the UNESCO-India-Africa Hackathon 2022 at the Gautam Buddha University in Greater Noida, Uttar Pradesh.

The Hackathon has been organized by the Union Ministry of Education and students from 22 African countries are participating in the Hackathon. The Unesco India-Africa Hackathon event is seeing the participation of 603 students who will engage in coding for 36 hours non-stop to find technology-based solutions for issues prevailing in the field of education, agriculture, health, energy and drinking water, among others.

Important takeaways for all competitive exams:

UNESCO Founded: 16 November 1945;

UNESCO Headquarters: Paris, France;

UNESCO Members: 193 countries;

UNESCO Head: Audrey Azoulay.

Economy News

7.Ministers’ Panel May Recommend 28% GST on Online Gaming

The panel of state finance ministers is likely to recommend a uniform GST levy of 28 percent on online gaming irrespective of whether it is a game of skill or a game of chance.

Currently, online gaming attracts 18 percent GST. The tax is levied on gross gaming revenue, which is the fees charged by online gaming portals.

The Group of Ministers report is almost final and would be submitted to the GST Council soon for consideration. However, it is likely to suggest a revised formula for calculating the amount on which the Goods and Services Tax (GST) would be levied.

8.CRISIL Revises India’s GDP Forecast for FY23 Down From 7.3% to 7%

CRISIL has revised its forecast for India’s real gross domestic product (GDP) growth to 7 per cent for the current fiscal (2022-23) from 7.3 per cent estimated previously. The credit rating agency said this is primarily because the slowdown in global growth has started to impact India’s exports and industrial activity.

Crisil downgraded the India growth forecast by 30 bps to 7 per cent while ICRA pegged the economic expansion at 6.5 per cent for the second quarter of FY2022-23. This is mainly due to the ripple effect of slowdown in global growth and mixed crop output.

China (4.5 per cent growth estimated for 2023-25), Indonesia (5.2 per cent), Turkey (3 per cent) and Brazil (1.6 per cent).

9.OECD Cuts India Growth Rate Forecast to 6.6 % in 2022

The Organisation for Economic Co-operation and Development (OECD), cut its gross domestic growth forecast for India for the current financial year (FY23) to 6.6 per cent from 6.9 per cent, citing higher medium-term global uncertainty and slowing domestic economic activity.

The agency said that tighter financial market conditions were weighing on the demand for capital goods, while the monthly energy and food import bill kept rising and the current account deficit widened in the July-September quarter to 2.9 per cent of GDP.

Headline inflation remains above 6 per cent mostly due to the trend increase in the price of food. Unemployment estimates suggest improving labour market conditions in both urban and rural areas, but there are few signs of a wage-inflation spiral,” it said.

Business News

10.National Payments Corporation of India in Talks With RBI on Volume Cap Deadline

National Payments Corporation of India(NPCI), which runs the UPI digital pipeline, is in talks with the Reserve Bank on implementation of its proposed deadline for limiting the volume cap of players to 30 percent.

NPCI runs the UPI digital pipeline. Currently, there’s no cap on volume and Google Pay and PhonePe hold the market share of about 80 per cent.

Back in November 2022, the NPCI had proposed a 30 per cent volume cap for third-party app providers (TPAP). The proposal was made to avoid concentration risk. However, the existing TPAPs such as PhonePe and Google Pay were given two years more to comply with the orders.

11.India, China Leads as Global Intellectual Property Filings Reached New Records in 2021

Global intellectual property filings- of patents, trademarks, and designs-reached record levels in 2021 driven largely by increases from Asian countries of India, China, and South Korea according to the World Intellectual Property Organisation (WIPO).

Strong growth in local patent filings in India (+5.5 percent), China (+5.5 percent) and the Republic of Korea (+2.5 per cent) drove the global growth in patent applications in 2021, propelling the share of Asian filings to cross the two-thirds threshold, the report said.

Local patenting activity in the U.S. (-1.2 per cent), Japan (-1.7 per cent) and Germany (-3.9 per cent) declined in 2021.

The WIPO’s World Intellectual Property Indicators (WIPI) report showed that innovators around the world filed 3.4 million patent applications in 2021, up 3.6 per cent from the previous year with offices in Asia receiving 67.6 per cent of all applications worldwide.

Bankings News

12.KVG Bank gets award for Atal Pension Yojana enrolment

Karnataka Vikas Grameena Bank (KVGB) has bagged the national award from Pension Fund regulatory and Development Authority (PFRDA) for significant enrolment under Atal Pension Yojana (APY). So far, the bank has enrolled 3,34,687 (cumulative) accounts under APY. During 2022-23, the bank enrolled 69,132 accounts against the target of 50,320.

Notably: Pension Fund Regulatory and Development Authority is the regulatory body under the jurisdiction of Ministry of Finance, Government of India for overall supervision and regulation of pension in India.

PFRDA has given a target of an average 80 accounts per branch, the bank has achieved an average of 110 accounts against the target. This achievement is highest among all other banks in South India. At present, the bank has 629 branches in the nine districts from Vijayapura to Mangaluru.

Important takeaways for all competitive exams:

Karnataka Vikas Grameena Bank founded: September 12, 2005.

Karnataka Vikas Grameena Bank Headquarters: Dharwad, Karnataka.

Karnataka Vikas Grameena Bank Chairman: Puttaganti Gopi Krishna.

13.ICICI Bank Launches New Products for NRIs at Its GIFT City Branch

Private sector lender ICICI Bank has launched two new products – loan against deposits(LAD) and dollar bonds – for non-resident Indians at its GIFT City branch in Gujarat. The bank is the first to offer these products in GIFT City.

Loan against Deposits (LAD): LAD resembles a loan in foreign currency against a deposit in India (including Rupee NRE FDs).The customers can avail LAD for their short-term cash requirement without having to prematurely close their Term Deposits and thereby avoid paying a penalty for breaking the deposit. They can avail up to 95%* of their deposit value. With a simple documentation process, customers can get flexible tenure with fixed or floating interest rates.

Dollar Bonds: It is an alternate investment option for NRIs, where they can book dollar bonds through ICICI Bank in GIFT City. The Bank offers a cohort of over 50 marquee issuers / companies for these bonds.

Global Current Account: This is a non-interest bearing account which does not require any minimum balance. It helps NRIs to deposit money in India in foreign currencies such as USD, EUR, GBP.

Global Savings Account: NRIs can deposit money for short term and earn interest in this savings account.

Term Deposits: They are similar to Foreign Currency Non Resident (FCNR) deposits with minimum lock-in period of seven days compared to one year for FCNR in India. Customers can deposit in currencies such as USD, EUR, GBP.

Defence News

14.Vayusena Nagar Organizes IAF Air Fest 2022

Air Fest 2022 showcased maneuvers of planes & helicopters in the arsenal of the Indian Air Force (IAF) in an annual event organized at Head Quarters Maintenance Command, Vayusena Nagar in Nagpur. The Air Fest is being conducted as a part of the ‘Azadi Ka Amrit Mahotsav’.

The objective of the Air Fest is to showcase various facets of the Indian Air Force and motivate the youth of Nagpur to choose Indian Air Force for an exciting career.

During the show team of 4 Sarang – advanced light helicopters showed heart-throbbing maneuvers like Dolphin lift and crossover.

These helicopters are indigenously manufactured by HAL-Hindustan Aeronautics Limited. The Surykiran Aerobatic Team (SKAT) also displayed exciting formations in the sky.

The Air Fest 2022 will include various activities such as the display of the Sarang Helicopters Air Display Team, the Akashganga Team, and the Air Warrior Drill Team.

Sports News

15.Sebastian Vettel retired from Formula One racing

German racing driver Sebastian Vettel has retired from Formula One racing. Vettel won four Formula One World Championships between 2010 and 2013 while competing for Red Bull and previously spent six seasons with Ferrari.

In the Abu Dhabi Grand Prix Sebastian Vettel finished in 10th place, the last one of his career. Vettel received a guard of honour from his fellow competitors before the race.

16.India Won 25 out of 28 Golds at 15th Asian Airgun Championships

India ended their campaign at the 15th Asian Championships in South Korea with 25 gold medals. Indian pair Manu Bhaker and Samrat Rana won the 10-meter Junior Air Pistol Mixed Team event.

Bhaker and Rana in the qualification shot 578 shots to finish second against Uzbekistan pair Nigina Saidkulova and Mukhammad Kamalov.

The Indian duo Sangwan and Vijyaveer Sidhu clinched the yellow metal in the corresponding senior event.

Sangwan and Vijyaveer completely outshot Kazakhstan duo Valeriy Rakhimzhan and Irina Yunusmetova.

They have topped the qualification round with a score of 579 with the Kazakhs finishing second with 577.

India won 25 out of the 28 events in the 15th Asian Championships in South Korea.

17.Novak Djokovic Won 6th ATP Finals Singles Title

Novak Djokovic won the sixth ATP Finals singles title win beating Casper Ruud from Norway. Novak Djokovic defeated the opponent by 7-5, 6-3 to walk away with a historic payday of $4.7m. Novak Djokovic has equaled the record of six ATP title wins of Roger Federer.

The ATP Finals is the season-ending championship of the ATP Tour. It is the most significant event in the annual ATP calendar after the four majors as it features the top-eight singles players and top-eight doubles teams based on their results throughout the season.

18.Manika Batra: First Indian woman to win medal at Asian Cup Table Tennis

Manika Batra, the Indian Table Tennis player, became the first Indian woman to win a medal at the Asian Cup Table Tennis Tournament. Manika defeated World no.6 Hina Hayata of Japan in the Asian Cup 2022 in the women’s singles bronze medal match in Bangkok, Thailand. Union Minister Kiren Rijiju appreciated Manika Batra for her performance and spectacular achievement.

Manika Batra defeated Hina Hayata by 4-2 in the medal match.

Manika Batra led the match by 2-1, but Hayata seemed poised to level the match with a 10-6 lead in the fourth game.

She took 6 points and successfully turned the momentum in her favor.

Obituaries News

19.Rasna founder Areez Pirojshaw Khambatta passes away

The founding chairman of the popular drink Rasna, Areez Pirojshaw Khambatta has passed away. The 85-year-old industrialist, who was suffering from a prolonged illness.

Decades back, his father Phiroja Khambatta started a modest business which Areez took to being the largest concentrate manufacturer in the world, with a presence in over 60 countries.

He created affordable soft drink packs of Rasna in the 1970s as an alternative to soft drink products sold at high costs. It is sold at 1.8 million retail outlets in the country.

Rasna, which is now the world’s largest gentle drink focus producer, still enjoys a high recall and the brand’s “I love you Rasna” campaign of the 80s and 90s still resonates in the minds of people.

20.Zorba, the first dog of anti-poaching dogs squad K9, passes away

India’s first dog to be deployed for tracking down poachers, Zorba has passed away of old age in Guwahati. The 12-year-old male Belgian Malinois was a member of ‘K9’, the nation’s first dog squad to fight wildlife crime. Zorba was the first dog of the squad and he was credited with helping law enforcement authorities nab over 60 poachers. He was given teary farewell by wildlife activists and was buried.

Zorba retired from service in 2019 and was honoured for his services with a traditional Assamese ‘gamosa’ and a citation on Independence Day this year.

He served mostly in the Kaziranga National Park from 2012 till his retirement, and assisted authorities to nab people involved in rhino poaching. He was also deployed in other national parks on several occasions.

21.Former Indian football captain Babu Mani passes away at 59

Babu Mani, who was an integral part of the Indian football team in the 1980s, passed away after a prolonged battle with liver-related issues. He was 59. He represented India in 55 international matches and was a part of the first Indian team that qualified for the AFC Asian Cup in 1984.

Babu Mani made his India debut against Argentina in Kolkata during the 1984 Nehru Cup and went on to play 55 matches for the country. He was also a part of the first Indian squad to qualify for the Asian Football Confederation (AFC) Asian Cup in 1984 and went on to play in the tournament in Singapore.