DAILY CURRENT AFFAIRS 11-11-2024

Shankar School of Banking November 11 , 2024 141

NATIONAL NEWS

Bengaluru to Launch Its First Digital Population Clock

Bengaluru City’s first digital population clock, which will display real-time estimates of the population of Karnataka and the country, will be inaugurated at the Institute for Social and Economic Change (ISEC) in the city.

It is a joint project of ISEC and the Union Ministry of Health and Family Welfare (MoHFW).

The population clock will display real-time estimates of:

Karnataka's population, updating every 1 minute 10 seconds.

India's population, updating every 2 seconds.

It aims to raise awareness about population growth and provide authentic data for researchers and scholars.

The clock is satellite-connected for precise timekeeping.

It operates autonomously with all components integrated into the system.

 

INTERNATIONAL NEWS

Prime Minister Shri Narendra Modi May Skip COP29 Due to Scheduling Conflicts

Prime Minister Shri Narendra Modi may skip the UN Climate Change Conference (COP29) in Azerbaijan next month due to scheduling issues.

The absence will also rule out the potential for a meeting between Modi and Pakistani Prime Minister Shehbaz Sharif, which had been a point of interest after Jaishankar's recent visit to Islamabad.

Environment Minister Bhupender Yadav will lead India’s delegation to COP29 in Modi’s absence.

Other notable heads of state like Chinese President Xi Jinping, US President Joe Biden, and French President Emmanuel Macron are also expected to miss the summit

COP conferences are used by leaders for informal bilateral discussions.

India is scheduled to speak at COP29 either on November 19 or 20, as part of the Like-Minded Developing Countries (LMDC)

India’s address is likely to focus on global climate finance and the ongoing need for developed nations to fulfill their climate commitments.

47th President of the United States

Donald Trump won a non-consecutive second term as the 47th President of the United States, defeating Vice-President Kamala Harris, the Democratic nominee.

Republicans gained control of the Senate with at least 52 seats out of 100.

Trump becomes only the second U.S. President to serve non-consecutive terms and, at 78 years old, is now the oldest U.S. President to enter office.

Joe Biden, the incumbent President (82 years), withdrew due to party concerns regarding age-related cognitive issues.

Trump had secured 292 Electoral College votes to Harris's 224 (270 votes are needed to win).

He was projected to win the popular vote, marking the first Republican to do so since George W. Bush in 2004.

 

SCIENCE & TECHNOLOGY

ISRO Launches India's First Analog Space Mission

The Indian Space Research Organisation (ISRO) has launched India’s inaugural analog space mission in Leh, Ladakh, marking a pioneering step in the nation’s space exploration efforts.

The mission, spearheaded by ISRO’s Human Spaceflight Centre, brings together partners from AAKA Space Studio, the University of Ladakh, IIT Bombay, and is supported by the Ladakh Autonomous Hill Development Council.

This mission aims to simulate interplanetary habitat conditions, helping scientists explore the feasibility of establishing a sustainable base station beyond Earth.

Ladakh’s extreme isolation, dry climate, and barren, high-altitude terrain make it ideal for simulating conditions similar to Mars and the Moon.

The environment presents an opportunity for researchers to gather critical data that will support India’s Gaganyaan program and future missions.

The mission includes a compact, inflatable habitat named Hab-1, which is equipped with essentials like a hydroponics farm, kitchen, and sanitation facilities.

 

BANKING

RBI Approves 10-Year Sovereign Green Bonds

The Reserve Bank of India (RBI) has expanded the list of specified Government securities that non-residents can invest in under the Fully Accessible Route (FAR) by including 10-year Sovereign Green Bonds (SGrBs).

The 10-year SGrBs, to be issued by the Government of India in the second half of the fiscal year 2024-25, are designated as specified securities under FAR.

FAR was introduced in 2020 to allow non-residents to invest in specified Government of India dated securities without investment ceilings.

Eligible investors include Foreign Portfolio Investors (FPIs), Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs), and other entities allowed to invest in Government securities under Debt Regulations.

₹20,000 crore will be raised through four issuances of Sovereign Green Bonds (SGrBs), two with a 10-year tenor and two with a 30-year tenor, each of ₹5,000 crore.

SGrBs are issued for funding green and sustainable projects, aligning with India's commitment to addressing climate change and promoting environmental sustainability.

IRDAI to Revise Regulatory Sandbox Guidelines

The Insurance Regulatory and Development Authority of India (IRDAI) has proposed amendments to the Regulatory Sandbox norms.

The changes aim to incorporate a principle-based approach instead of the current rule-based approach.

The amendments are designed to facilitate the adoption of innovative ideas and new concepts across the entire insurance value chain.

The goal is to support innovation in insurance products, services, and processes by offering a more flexible regulatory framework.

A regulatory sandbox is a controlled environment where new products or services can be tested live with possible regulatory relaxations.

The objective is to evaluate innovations and concepts in a real-world setting before they are fully rolled out.

IRDAI constituted an internal committee to review the existing IRDAI (Regulatory Sandbox) Regulations.

Based on the committee’s recommendations, the amendments to the regulatory sandbox regulations were proposed.

IRDAI has issued an exposure draft of the IRDAI (Regulatory Sandbox) (Amendment) Regulations, 2024.

The draft invites public comments on the proposed amendments by November 25, 2024.

 

RANKS, INDICES & REPORTS

WIPO Global Patent Filings in 2023

India has, for the first time, has been ranked 6th in the world for global patent filings in 2023.

According to the World Intellectual Property Organisation (WIPO) annual World Intellectual Property Indicators Report 2024, released on 7 November 2024, global patent filing increased by 15.7 % in 2023, primarily due to a strong increase in patent filing in India.

According to the WIPO report, the number of patents filed in India in 2023 was 64,480.

The country's growth rate in patent filing was 15.7 % compared to 2022.

The patent filing in India has shown the 5th consecutive year of a double-digit growth rate.

For the first time, India was included in the top 10 countries of the world for three main intellectual property (IP) rights: patents, Industrial design applications, and trademark applications.

According to the WIPO report, the number of patents filed in India in 2023 was 64,480.

The country's growth rate in patent filing was 15.7 % compared to 2022.

The patent filing in India has shown the 5th consecutive year of a double-digit growth rate.

For the first time, India was included in the top 10 countries of the world for three main intellectual property (IP) rights: patents, Industrial design applications, and trademark applications.

QS World University Rankings: Asia 2025

The Indian Institute of Technology -Delhi has been ranked as the top Indian educational institution in the latest QS World University Rankings: Asia (2025).

IIT-Delhi has been ranked 44th best educational institution, while China’s Peking University retained the top spot amongst the list of educational institutions in Asia as per the QS World University Rankings: Asia (2025).

The QS World University Rankings: Asia (2025) ranks 984 educational institutions among 25 South Asian, Central Asian, Eastern Asian and South-East Asian countries.

These educational institutions are ranked based on the comparison and preference of the institutions and students.

After IIT-D, IIT-Bombay was second highest, with a rank of 48, and IIT-Madras was third, with a rank of 56.

IIT Kharagpur was in fourth place with a rank of 60, followed by the Indian Institute of Science (62), IIT Kanpur (67), and the University of Delhi (81).

 

DEFENCE

Theatre Command Level EX Poorvi Prahar

The Indian Army, Indian Air Force and the Indian Navy will jointly commence a command-level tri-service theatre exercise code-named ‘Poorvi Prahar’ along the India-China border.

The Poorvi Prahar exercise will be held from 10-18 November 2024.

The exercise assumes significance in the Indian government's effort to set up an integrated theatre command in India.

Theatre in the military refers to a specific geographical area, whether in the sea, air, or land. These areas could potentially become areas of conflict or war in the future.

The main aim of the Poorvi Prahar exercise is to familiarise and train the three wings of the Indian military—the Army, Navy, and Air Force—in executing integrated joint operations in mountainous terrain.

It will also test the operational readiness and inter-service coordination of the three forces.

Another objective of the exercise is to address the problems experienced by the three services regarding interoperability.

 

SPORTS

FIH Hockey Star Award 2024

Indian men’s hockey team captain Harmapreet Singh and former Indian goalkeeper PR Sreejesh won the FIH Hockey Star Awards 2024.

The world governing body of Hockey, FIH, announced the winner of its annual Hockey Star award for the year 2024 in a glittering ceremony held in the Omani capital city of Muscat on 8 November 2024.

Male and Female hockey players were selected for the FIH Hockey Star Award 2024 for their performance in 2024.

Player of the Year

Male- Harampreet Singh of India

Women- Yibbi Jansen of Netherlands

Goalkeeper of the Year

Male- PR Sreejesh of India

Women- Ye Jiao of China

Rising Star of the Year Award

Male-Sufyan Khan of Pakistan

Women-Zoe Diaz of Argentina

Coach of the Year Award

Men- Jeroen Delmee of Netherlands

Women-Alyson Annan of China

Umpire of the Year

Male - Steve Rogers of Australia

Women-Sarah Wilson of Scotland

Arjun Erigaisi Jumps to World No. 2 in Chess Rankings

Arjun Erigaisi, the 21-year-old Indian Grandmaster from Warangal, Andhra Pradesh, has surged to world No. 2 in the live chess rankings, following an impressive win over Russian Grandmaster Alexey Sarana at the ongoing Chennai Grand Masters.

Erigaisi now has an Elo rating of 2805.8, making him only the second Indian player to cross the 2800 Elo barrier, a feat previously achieved by Viswanathan Anand.

His victory in Chennai has propelled him to the No. 2 spot, just behind Magnus Carlsen, the five-time World Chess Champion.

If Erigaisi wins the Chennai Grand Masters, he stands to gain 24.5 rating points, which would further boost his chances of qualifying for the FIDE Candidates Tournament and potentially competing for the World Chess Championship.

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