27 November 2023 Current Affairs, Banking and Economy updates

Current Affairs

Agriculture
Periodic Labour Force Survey (PLFS) – Quarterly Bulletin for July – September
2023
According to Quarterly Bulletin Periodic Labour Force Survey (PLFS) (July to
September 2023), released by National Sample Survey Office (NSSO), Ministry
of Statistics and Programme Implementation (MoSPI), unemployment rate in
urban areas fell from 7.2% in July –September 2022 to 6.6% in July –
September 2023 for persons of age 15 years and above.
This bulletin for the second quarter (Q2) of the financial year 2023-24 (FY24) is
the 20th edition of the series

Appointments
New President of RMAI
Rural Marketing Association of India (RMAI), the premier body of rural
marketers in India announced the appointment of Mr Puneet Vidyarthi as
President of RMAI for the year 2023-2025.
Rural Marketing Association of India (RMAI) is a premier industry body devoted
to furthering the cause of rural marketing. Since its inception in the year 2005,
RMAI has been helping marketers plan and implement their rural marketing
activities across the country.

Books
“Pranab, My Father”: Sharmishtha Mukherjee Penned a biography of Pranab
Mukherjee
A book titled “Pranab, My Father: A Daughter Remembers”, a biography of
Pranab Mukherjee, former (13th) President of India, penned by his daughter
Sharmishtha Mukherjee.

The Material prepared by Dr. (Prof) Veeraswamy Amara (Lecturer in current Affairs, Banking and
General Studies)
The book sums up the life of Pranab Mukherjee starting from a small village in
West Bengal to his rise to the President office.
This also highlights the father-daughter relationship between Pranab
Mukherjee and Sharmishtha.
Sharmishtha Mukherjee, a noted kathak dancer and choreographer, is a
member of Indian National Congress.
Pranab Mukherjee served as the President of India from 2012 to 2017
In 2019 he was conferred with the highest civilian award Bharat Ratna

National
Noida International Airport Signs MoU with IndiGo to become airport’s
launch carrier

Noida International Airport signed a MOU with IndiGo Airlines to become the
launch carrier for the under-construction airport which is scheduled to open at
the end of 2024.

Through this MoU, IndiGo is set to become the first airline to operate flights
from Noida International Airport.

The Noida International Airport is a greenfield airport will be India’s first net
zero emissions airport.

Ambedkar's statue in Supreme Court

President Droupadi Murmu unveiled a statue of Dr B R Ambedkar in the

Supreme Court premises on the occasion of Constitution Day on 26 November
2023.

Chief Justice of India D Y Chandrachud and Union Law Minister Arjun Ram
Meghwal paid their tributes to the father of the Indian Constitution folding
hands and offering flowers to the over 7-feet tall sculpture.

Since 2015, November 26 is observed as Constitution Day to commemorate

the adoption of the Constitution of India by the Constituent Assembly in 1949.

The Material prepared by Dr. (Prof) Veeraswamy Amara (Lecturer in current Affairs, Banking and
General Studies)
First Telecom Centre of Excellence
India’s first Telecom Centre of Excellence (CoE) will be established at the Indian
Institute of Technology (IIT) Roorkee campus in Saharanpur, in UP.
The UP Government will fund around Rs.30 crore for its establishment.
The center will focus on connecting 5G technology and Artificial Intelligence
(AI) to develop innovative devices and technologies and will also prepare a
base for the launch of 6G technologies.
The foundation stone for the same will be laid by the Chief Minister (CM) of UP
Yogi Adityanath on December 5, 2023.
To develop and promote new technology in the field of telecom, the CoE was
established.

Summits
ASEAN-India Millet Festival
The Indian Mission to Association of Southeast Asian Nations (ASEAN) in
collaboration with Ministry of Agriculture and Farmers’ Welfare organised the
ASEAN-India Millet Festival 2023 from 22nd to 26th November 2023, in
Indonesia
The festival aimed to raise awareness and create a market for millets and
millets-based products among the ASEAN Member states.
The Millet Festival is a part of United Nation(UN)’s International Year of Millets
2023 (IYM 2023) celebrations.
The festival includes an exhibition, panel discussions, and cooking workshops.
The exhibition also aims to foster collaboration between ASEAN countries,
celebrate cultural and culinary diversity and promote sustainable millet
practices.
Five Farmers Producers Organisation (FPOs) and two start-ups (Taru Naturals
and Sattva Millets and Food Products (Mibbles)) from India participated the
exhibition.

The Material prepared by Dr. (Prof) Veeraswamy Amara (Lecturer in current Affairs, Banking and
General Studies)
They showcased unique millet-added products such as millet cookies,
namkeen, khakhra and cakes.

Reports
Let Communities Lead - World AIDS Day Report 2023
World AIDS Day Report 2023 states that AIDS can be ended as a public health
threat by 2030, if only frontline communities get full support from
governments and donors.
The report was launched in London, UK at a World AIDS Day event hosted by
STOPAIDS, a civil society organization.
The 2023 theme of World AIDS Day is “Let Communities Lead”.
The report underscores the pivotal role of community-led interventions in
achieving the end of AIDS and ensuring sustained progress.
The report is “an urgent call to action for governments and international
partners to enable and support communities in their leadership roles”
Globally, 39 million people were living with HIV in 2022. 9.2 million people
living with HIV do not have access to lifesaving antiretroviral therapy. 53% of all
people living with HIV were women and girls.

States
Krishnaveni Sangeetha Neerajanam
The union Ministry of Tourism, Government of India in association with
Ministry of Culture, Sangeet Natak Academy and State Government of Andhra
Pradesh successfully organised the prequel event of Krishnaveni Sangeetha
Neerajanam, a first of its kind festival to celebrate the rich heritage of classical
music and promote lesser-known tourist attractions.
The prequel events organized at six locations on November 27, 2023 across the
state were a resounding success and offered a glimpse of the main event to be
organized in December 2023.

The Material prepared by Dr. (Prof) Veeraswamy Amara (Lecturer in current Affairs, Banking and
General Studies)
The Krishnaveni Sangeetha Neerajanam will be organized from 10 th to
12th December, 2023 in Vijayawada.
The event features spectacular display and sale of regional cuisine, local
handicrafts and handlooms.
The festival also aims to promote the hidden gems of the region including
spiritual, heritage and eco destinations.

International
Merriam-Webster word of Year
Year The USA dictionary publisher Merriam-Webster announced that the Word
of the Year for 2023 is “Authentic”.
According to Merriam-Webster, Authentic is defined as “not false or imitation”
and “true to one’s own personality, spirit, or character”.
The searches for the word ‘Authentic’ on Merriam-webster.com increased in
2023, because of stories and conversations about Artificial intelligence (AI),
celebrity culture, identity, and social media.
Authentic’ is an adjective which modifies the noun. The words frequently
modified by authentic include cuisine, dish, self and voice.
The word is often connected to national as well as personal identity.
Other Top Searched Words of Merriam-Webster 2023:
Deepfake –A type of AI that can be used to create realistic but fake videos or
audio recordings.
Rizz – It is a internet-driven slang which means “romantic appeal or charm”
Dystopian- The word relates to, or being in an imagined world or society in
which people lead dehumanized, fearful lives.
Coronation – the act or occasion of crowning
Egot- The word means the accomplishment of winning an Emmy, Grammy,
Oscar, and Tony Award in one’s lifetime.

The Material prepared by Dr. (Prof) Veeraswamy Amara (Lecturer in current Affairs, Banking and
General Studies)
Deadname – the name that a transgender person was given at birth and no
longer uses upon transitioning Note: “Gaslighting” is Merriam-Webster’s word
of the year for 2022
X – Elon Musk has rebranded Twitter as X in July 2023; This made many people
to learn about ‘X’.
Implode – The word means ‘to burst inward’ or ‘to undergo violent
compression’
Doppelgänger – a person who has the same name as another
Covenant – a formal, solemn, and binding agreement
Indict – to charge with a fault or offense
Elemental – relating to, or being the basic or essential constituent of something
Kibbutz – a communal farm or settlement in Israel
REF : https://thehill.com/blogs/in-the-know/4329748-merriam-websters-word-
2023-authentic/

NASSCOM Signed MoU with NRW.Global Business to Establish Launchpad in

Germany

NASSCOM signed a memorandum of understanding (MoU) with NRW.Global

Business to promote innovation, investment and technological exchange
between North Rhine-Westfalia (NRW) in Germany and India.
The MoU will lead to the establishment of the first Nasscom launchpad in
Germany, following its success in the UK.

The state-owned foreign trade promotion agency NRW.Global Business is the

partner for all companies when it comes to investment projects and settling in
North Rhine-Westphalia as well as the development of foreign markets for
North Rhine-Westphalian companies and networking with international
business partners.

The Material prepared by Dr. (Prof) Veeraswamy Amara (Lecturer in current Affairs, Banking and
General Studies)
First Human Case Of H1N2 Pig Virus

The UK Health Security Agency disclosed the first human case of H1N2, or the
pig virus, discovered through routine national flu surveillance.

The affected individual experienced mild illness and fully recovered, raising
questions about potential pig-to-human transmission.

Sports

China Masters 2023

The Indian badminton duo of Satwiksairaj Rankireddy and Chirag Shetty settled
for 2nd place in the men’s doubles of Li Ning China Masters 2023 held in
Shenzhen Bay Gymnasium, Shenzhen, China from 21st to 26th November 2023.
India duo lost the finals against the World No. 1 pair of Liang Wei Keng and
Wang Chang of China. China Masters 2023 is a Badminton World Federation
(BWF) Super 750 tournament
The China Masters, formerly known as Fuzhou China Open, is an annual
badminton tournament held in China.
Winners of China Masters 2023:
Men’s Singles – Kodai Naraoka (Japan)
Women’s Singles – Chen Yu Fei (China)
Men’s Doubles – Liang Wei Keng & Wang Chang (China).
Women’s Doubles – Nami Matsuyama & Chiharu Shida (Japan)
Mixed Doubles – Zheng Si Wei & Huang Ya Qiong (China)

The Material prepared by Dr. (Prof) Veeraswamy Amara (Lecturer in current Affairs, Banking and
General Studies)
ISSF World Cup Final 2023
Indian shooter Anish Bhanwala won the bronze medal in the Men’s 25m rapid
fire pistol event at the International Shooting Sport Federation (ISSF) World Cup
Final Rifle/Pistol/Shotgun 2023 held in Lusail Shooting Range in Doha, Qatar
held from 18th to 26th November 2023.
This was India’s 1st medal in the men’s 25m rapid fire pistol event in the ISSF
World Cup Final history.
Anish Bhanwala’s bronze was the first and last medal of India at ISSF World Cup
Final 2023.
India ranks 13th, along with Czechia; Great Britain; Latvia & the United States
of America(USA), in the medal tally with 1 bronze.
ISSF World Cup Final 2023 Medal tally is topped by China with 8(2 gold, 4 Silver
and 2 Bronze) followed by Germany (4 – 2 gold, 1 silver, 1 bronze) and Italy (6 –
1 gold, 3 silver, 2 bronze)

Important days
Guru Nanak Jayanthi- 27 NOV
The Prime Minister Narendra Modi greeted the nation on the auspicious
occasion of the Parkash Purab of Sri Guru Nanak Dev Ji. Shri Modi said that Sri
Guru Nanak Dev Ji’s emphasis on serving others and furthering brotherhood
give strength to millions around the world.
Guru Nanak Jayanthi or Guru Nanak Gurpurab also known as Guru Nanak
Prakash Utsav celebrates the birth of the first Sikh guru, Guru Nanak.
REF : https://twitter.com/narendramodi/status/1728956201268846692

The Material prepared by Dr. (Prof) Veeraswamy Amara (Lecturer in current Affairs, Banking and
General Studies)
Banking
L&T Finance signs financing pact with ADB for USD 125 million

L&T Finance Limited signed a $ 125 million financing pact with ADB to support
financing in rural and peri-urban areas of India, especially for women
borrowers.

The funding comprises a loan of up to $ 125 million from ADB and an

agreement to syndicate an additional $ 125 million in co-financing from other
development partners.

40% is designated for women borrowers and the remainder supporting

farmers, MSMEs (Micro, Small, and Medium Enterprises), and two-wheeled
vehicle purchases.

Mastercard (MA), U GRO Capital Partner to Empower Indian MSMEs

Mastercard Incorporated MA(Mastercard) has partnered with U GRO Capital

Limited, a Non-Banking Financial Company (NBFC), to offer holistic digital
supply chain financing solution to small businesses in India.

This collaboration is in line with Mastercard’s announcement to get 1 billion

people and 50 million micro and small businesses, including 25 million female
entrepreneurs into the digital economy by 2025.

Under this partnership, short-term loans as a digital supply chain financing

solution will be offered to dealers/distributors, last-mile retailers, and other
small merchants and women entrepreneurs.

Mastercard will use its extensive network to connect stakeholders and support
small businesses.

The Material prepared by Dr. (Prof) Veeraswamy Amara (Lecturer in current Affairs, Banking and
General Studies)
Economy
Berkshire Hathaway Sells its Entire 2.46% Stake in Paytm for Rs 1,371 crore

Berkshire Hathaway Inc, an American diversified multinational holding

company led by Warren Buffett, sold its entire 2.46% stake in One97
Communications, the parent company of fin-tech company Paytm for Rs.1,371
crore in a bulk deal on the National Stock Exchange (NSE).

Berkshire Hathaway Inc. through its affiliate company BH International Holdings

sold over 1.56 crore shares of Paytm at a loss of about 31% per share, leading
to a loss exceeding Rs.620 crore.

The sale was made through an open market transaction and the shares were
bought by Ghisallo Master Fund and Copthall Mauritius Investment.

SEBI introduced significant amendments at the 203rd Meeting of SEBI Board

On 25 November 2023, Madhabi Puri Buch, Chairman of Securities and

Exchange Board of India (SEBI) chaired the 203rd meeting of the SEBI held in
Mumbai

The SEBI Board meeting announced key decisions related to NPO fundraising,
regulations for index providers, AIFs operations etc.

SEBI Board introduces flexibility for Social Stock Exchange(SSE) in order to give
boost to fund raising by Not for Profit Organisation (NPOs) on the SSE.

It reduces minimum issue size from Rs1 crore to Rs 50 Lakh for public issuance
of Zero Coupon Zero Principal (ZCZP) instruments.

SEBI has further approved to reduce minimum application size from Rs 2 Lakh
to Rs10000 for public issuance of ZCZP by NPO on social stock exchange. It will
help to expand participation of subscribers including Retail.

The Material prepared by Dr. (Prof) Veeraswamy Amara (Lecturer in current Affairs, Banking and
General Studies)
The Board approved a regulatory framework for index providers in order to
introduce transparency and accountability in the functioning of the securities
market.

It also approved amendments to SEBI (Real Estate Investment Trusts)

Regulations, 2014. vi. SEBI with the objective of protecting the interests of
investors in Alternative Investment Funds (AIFs) approved an amendment to
SEBI (Alternative Investment Funds) Regulations, 2012.

SEBI plans to introduce same day (T+0) settlement by March 2024 and
Instantaneous settlement 2025..

The Material prepared by Dr. (Prof) Veeraswamy Amara (Lecturer in current Affairs, Banking and
General Studies)