National News

India Assumes Chairmanship of the International Sugar Organisation in 2024

• India is poised to lead the International Sugar Organisation (ISO) as its chairman in 2024, marking a significant stride for the nation.
• As the world's largest consumer and second-largest producer of sugar, India's ascent to this leadership role underscores its growing influence in the global sugar sector.
• The upcoming chairmanship presents a unique opportunity for India to steer the global sugar industry towards sustainable practices.
• The focus will be on fostering collaboration among member countries to embrace environmentally friendly approaches in sugarcane cultivation, sugar and ethanol production, and the effective utilization of by-products.

International News

U.S. Grants $677 Billion in Aid to 213 Countries (2001-2023)

• The United States emerges as the leading provider of aid in 2022, disbursing a substantial $677 billion to 213 countries from 2001 to 2023, as per the Organisation for Economic Co-operation and Development (OECD).
• This extensive financial assistance addresses diverse needs and challenges across nations.
• Notably, the aftermath of the 9/11 attacks and events in Afghanistan resulted in the country receiving $111 billion in aid between 2001 and 2023.
• Israel and Iraq follow as the second and third-highest beneficiaries, receiving $65 billion and $64 billion, respectively.

Afghanistan Permanently Closes Embassy in India

• The Afghanistan embassy in New Delhi officially announces its permanent closure, citing persistent challenges from the Indian government as the primary reason.
• The embassy clarifies that the closure is not a result of internal conflict or diplomats switching allegiance to the Taliban.
• The mission is handed over solely to the Indian government, leaving it to decide the mission's fate, including the possibility of transferring it to Taliban diplomats.

State News

Hornbill Festival 2023 - A Cultural Extravaganza in Nagaland

• Scheduled from December 1 to December 10, 2023, the Hornbill Festival in Nagaland promises a 10-day cultural extravaganza.
• Initiated in 2000, the festival has evolved into a mesmerizing spectacle of colorful costumes, rhythmic beats, and musical narratives, providing a unique glimpse into Nagaland's cultural tapestry.
• Named after the culturally significant hornbill bird, the festival embodies fidelity, beauty, and grace in Naga folklore.
• In 2022, it drew 1,026 foreign tourists, 48,413 domestic visitors, and an impressive local footfall of 90,860, totaling 140,299.

Defence News

India and Nepal Conduct 17th Edition of Joint Military Exercise SURYA KIRAN

• The 17th edition of the Joint Military Exercise SURYA KIRAN aims to strengthen the enduring ties between India and Nepal.
• Military contingents from both nations converge in Pithoragarh, Uttarakhand, from November 24 to December 7, 2023, for this annual event.
• Focusing on enhancing interoperability, the exercise emphasizes jungle warfare, counter-terrorism operations in mountainous terrain, and Humanitarian Assistance and Disaster Relief (HADR) operations.
• Activities include the deployment of drones, counter-drone measures, medical training, aviation aspects, and environmental conservation.

Banking News

Bandhan Bank Board Approves Reappointment of Chandra Shekhar Ghosh as MD & CEO

• The board of directors at Bandhan Bank greenlights the reappointment of Chandra Shekhar Ghosh as the Managing Director & Chief Executive Officer (MD&CEO).
• Ghosh's tenure is extended for three years, expiring on July 09, 2024.
• With over three decades of experience in microfinance, banking, and development, Ghosh's leadership has been instrumental in navigating Bandhan Bank through challenges and contributing to its growth.

RBI Takes Action Against Abhyudaya Cooperative Bank's Governance Issues

• The Reserve Bank of India (RBI) announces the superseding of the board of Abhyudaya Cooperative Bank for 12 months due to observed poor governance standards.
• This regulatory intervention, under Section 36 AAA and Section 56 of the Banking Regulation Act, 1949, underscores the RBI's commitment to maintaining the integrity and stability of financial institutions in the country.

RBI Imposes Fine of ₹10.34 Crore on BoB, Citibank, and IOB

• On November 24, the Reserve Bank of India takes stringent measures against Citibank, Bank of Baroda, and Indian Overseas Bank, imposing fines totaling ₹10.34 crore.
• Indian Overseas Bank faces a ₹1 crore penalty for non-compliance with specific RBI directives on 'loans and advances – statutory and other restrictions.'
• Citibank receives a hefty ₹5 crore penalty for non-compliance with various directives, while Bank of Baroda incurs a penalty of ₹4.34 crore.

Important Days News

International Day For The Elimination Of Violence Against Women 2023

• November 25 holds significance as the International Day for the Elimination of Violence Against Women, a pivotal day acknowledged by the United Nations to address the global issue of violence faced by women.
• Aligned with the 16 Days of Activism against Gender-based Violence campaign, this day aims to spotlight the pervasive nature of violence against women and advocate proactive measures for prevention.
• The global theme for the 16 Days of Activism in 2023 echoes a powerful call to action: “UNITE! Invest to prevent violence against women and girls.”

Schemes News

‘AGNI’ Initiative To Promote Innovations By Ayurveda Practitioners

• The Central Council for Research in Ayurveda Sciences (CCRAS), under the Ministry of Ayush, has introduced the “Ayurveda Gyan Naipunya Initiative” (AGNI).
• This strategic initiative encourages Ayurveda practitioners to contribute, document, and validate innovative medical practices for the advancement of educational and academic realms.
• AGNI serves as a dedicated platform for Ayurveda practitioners to share their innovative practices and experiences across diverse disease conditions.

Appointments News

Anish Shah To Assume Presidency Of FICCI

• Anish Shah is poised to become the President-Elect of the Federation of Indian Chambers of Commerce and Industry (FICCI), the country’s oldest and largest industry body.
• Holding a Ph.D. from Carnegie Mellon’s Tepper School of Business and a Post-Graduate Diploma in Management from the prestigious Indian Institute of Management, Ahmedabad, Shah brings a wealth of academic and professional expertise to his new role.
• His distinguished 14-year career at GE included various leadership positions at GE Capital’s US and global units.
• Beyond his tenure at GE, Shah led Bank of America’s US Debit Products business and contributed strategic insights at Bain & Company in Boston and Citibank in Mumbai.

Agreements News

India And EU Ink Semiconductor Agreement To Boost Supply Chain

• India and the European Union (EU) achieved a significant milestone by signing a Memorandum of Understanding (MoU) on semiconductors.
• This collaborative effort aims to establish a robust supply chain, promote innovation, and align both regions with global developments in the semiconductor industry.
• The agreement emphasizes the identification of areas for collaboration in research, development, and innovation among universities, research organizations, and businesses.

Sports News

Imad Wasim Retires From International Cricket

• Imad Wasim, the 34-year-old Pakistani all-rounder, has announced his retirement from all forms of international cricket.
• This marks the end of a journey that saw him represent Pakistan in 121 appearances across ODIs and T20Is.
• With 55 ODIs and 66 T20Is, Wasim leaves behind a commendable record, contributing 1472 runs and securing 109 wickets.
• His farewell match against New Zealand earlier this year showcased a memorable performance, with a quick-fire 31 off 14 balls and two crucial wickets, culminating a remarkable career.

Science & Technology News

Scientists Uncover Mysterious Cosmic Ray Surpassing Three-Decade Record

• Scientists have unveiled a rare and extremely high-energy particle, named Amaterasu after the sun goddess in Japanese mythology, falling to Earth from an apparently empty region of space.
• With an estimated energy level of 240 exa-electronvolts (EeV), comparable to the record-breaking Oh-My-God particle discovered in 1991, the source and nature of this cosmic phenomenon remain elusive.

Miscellaneous News

World’s Biggest Iceberg On The Move After 30 Years

• The world’s largest iceberg, A23a, weighing nearly a trillion metric tonnes and spanning an area of 4,000 square km, has embarked on a rare journey after being largely stationary for more than three decades.
• Originating from West Antarctica’s Filchner-Ronne Ice Shelf in 1986, A23a is now on the move, propelled by strong winds and ocean currents past the northern tip of the Antarctic Peninsula.