DAILY CURRENT AFFAIRS : November 29 and 30, 2019

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NATIONAL NEWS

DAC approves capital procurement for Services amounting to over Rs 22,800 crore

  • Defence Acquisition Council, chaired by Defence Minister Rajnath Singh, today approved capital procurement for the Services amounting to over 22,800 crore rupees.
  • To boost the ‘Make in India’ initiative, the DAC accorded approval for indigenous design, development and manufacturing of ‘Thermal Imaging Night Sights’ for Assault Rifles. These sights will be manufactured by the Indian private industry and used by troops deployed on the frontline.
  • As a follow up of the successful indigenous Airborne Early Warning and Control programme, the DAC revalidated the Acceptance of Necessity for the procurement of additional Airborne Warning and Control System (AWACS) India aircraft.
  • The Council also approved the procurement of long Medium-Range Anti-submarine Warfare P8 I aircraft for the Navy. These aircraft would greatly strengthen the Navy’s capabilities for maritime coastal surveillance, Anti-Submarine Warfare and Anti-Surface Vessel strike.
  • The DAC approved the procurement of Twin-Engine Heavy Helicopters for the Indian Coast Guard. 
  • At present, the Indian Navy operates eight P-8I long-range maritime aircraft from INS Rajali located near Arakkonam in Tamil Nadu.

Antibiotic drug target identified by Indian researchers

  • Indian researchers have identified a protein pathway in an antibiotic-resistant bacterial strain called Staphylococcus aureus (S. aureus) and also a new molecule that can target this pathway. This may help develop new antibacterial drugs in future.
  • The new molecule –  indole based quinone epoxide (IND-QE) – has been developed by scientists at the CSIR-Central Drug Research Institute (CDRI), Lucknow and Indian Institute of Science Education and Research (IISER), Pune. This molecule can cross the bacterial cell barriers and disrupt the functioning of MarR proteins which are essential for the growth and survival of S. aureus bacteria.
  • IND-QE were synthesized at IISER Pune, while researchers at CSIR-CDRI screened the compounds against a panel of pathogens

Shiv Sena president Uddhav Thackeray was on Thursday sworn in Maharastra chief minister

  • Uddhav Thackeray is the 18th CM of Maharashtra. However, considering the number of terms, he will be the 29th chief minister of the state
  • Eknath Shinde, Subhash Desai (both Shiv Sena), Jayant Patil, Chhagan Bhujbal (both NCP), Balasaheb Thorat and Nitin Raut (both Congress) were sworn in as ministers.
  • The Shiv Sena, NCP and Congress formed the government after the Thackeray-led party fell out with pre-poll ally BJP over sharing the chief ministerial post.
  • The BJP emerged as the single largest party winning 105 seats. The Shiv Sena, NCP and Congress won 56, 54 and 44 seats respectively in the 288-member Maharashtra Assembly. 

‘Particles’ wins the Golden Peacock Award at IFFI 2019

  • ‘Particles’ directed by Blaise Harrison and produced by Estelle Fialon has won the coveted Golden Peacock Award at the 50th International Film Festival of India (IFFI), which concluded in Goa on November 28, 2019. The Golden Peacock Award carries a cash prize of Rs 40 lakhs to be shared equally between the Director and the Producer, Trophy and the citation. ‘Particles’ is an “ambitious yet modest film about the mysteries of being a teenager,” said the jury. 
  • Lijo Jose Pellissery conferred Best Director Award for ‘Jallikattu’ This Malayalam film is the portrait of a remote village where a buffalo escapes and causes a frenzy of ecstatic violence. In a story that starts as man versus wild, it doesn’t take that long before man becomes the wild
  •  Seu Jorge gets Best Actor (Male) Award for his portrayal of Carlos Marighella in the Brazilian movie ‘Marighella’. He bagged the award for “ the powerful and charismatic portrayal of a revolutionary, very relevant in our increasingly authoritarian times”. 
  • Usha Jadhav gets Best Actor (Female) Award for her portrayal of  ‘Prabha Mai’, in the Marathi film ‘Mai Ghatt: Crime No. 103/2005’. Usha Jadhav got the coveted prize for her “understated and powerful performance of a mother defending her child’s honour against the injustice of a corrupt system”. 
  • Special Jury Award for Pema Tseden’s ‘Balloon’ 
  • Amin Sidi Boumediene and Marius Olteanu receives Award for ‘Best Debut Feature Film of a Director’ for ‘Abou Leila’ and ‘Monsters’.
  • ‘Rwanda’ won  The ICFT –UNESCO Gandhi Medal

MoS for Home Affairs, Shri G. Kishan Reddy inaugurates 1st InternationalConference on “Landslides Risk Reduction and Resilience-2019”  

  • The Union Minister of State for Home Affairs, Shri G. Kishan Reddy inaugurated the 1st International Conference on “Landslides Risk Reduction and Resilience” held in NEW DELHI
  • While addressing the Conference, MoS, Shri G. kishan Reddy called for developing  technology to anticipate  disasters like landslides and  develop infrastructure to quickly respond  to minimise  the damage.
  • The Minister said that landslides have attracted global attention as they may cause huge havoc on communities, live stock, environment  leading to huge loss of lives.

Nirmala Sitharaman releases book on former Anna University Vice chancellor

  • Taking a leaf out of ‘Nermayin Payanam’ (A Journey of Honesty), a biography on educationalist and former Anna University Vice-Chancellor E Balaguruswamy, Finance Minister Nirmala Sitharaman on Saturday said there should be determination in every stage of one’s life despite the odds one faces.
  • She said this while releasing the book penned by noted journalist P Krishnan. Its first copy was received by former Chief Justice of Supreme Court and former Kerala Governor P Sathasivam at an event here.
  • Balaguruswamy, hailing from a farmer’s family in Aravakurichi in Karur district in Tamil Nadu, began his career in education and went on to become the Vice-Chancellor of Anna University. 

Former ISRO chief Kasturirangan to take over as NIIT University chairperson

  • Former ISRO Chairman K Kasturirangan has taken over as the new chairperson of the NIIT University (NU).
  • The announcement was made at NIIT University’s 11th Annual Lecture at Neemrana on Saturday.
  • Kasturirangan succeeds former Member of Parliament Karan Singh as the new chairperson of the not-for-profit university.
  • A Padma Vibhushan recipient, Kasturirangan headed the Indian Space Research Organisation (ISRO) from 1994 to 2003.He has also served as the Chancellor of Central University of Rajasthan.
  • He chaired the Ministry of Human Resource Development (MHRD) Committee to draft the National Education Policy, and submitted it to the Union HRD minister in May 2019.

International news

Mukesh Ambani 9th richest person in the world: Forbes

  • Reliance Industries Chairman Mukesh Ambani is the ninth richest person in the world, according to ‘The Real-Time Billionaires List’ of Forbes.
  • The list was headed by Jeff Bezos, CEO and Founder of Amazon, with ‘Real Time Net Worth’ of $113 billion
  • The RIL Chairman was ranked 13th globally in the Forbes’ 2019 rich list, released earlier this year. His rise can be attributed to RIL surpassing the 10 lakh crore market capitalisation mark, becoming the first Indian company to do so on Thursday.
  • According to the Forbes ‘The Real-Time Billionaires List’, RIL Chairman’s ‘Real Time Net Worth’ stood at $60.8 billion on Thursday.
  • Reliance is followed by TCS as the second most valued firm. HDFC Bank, Hindustan Uniliver and HDFC were the others.

Former RBI deputy governor H R Khan appointed as chairman of MFI panel

  • Former deputy governor of the Reserve Bank of India (RBI), H R Khan has been appointed as the first chairman of the steering committee of the Code for Responsible Lending (CRL) in micro-credit.
  • The CRL is a self-regulatory step for the micro-credit industry making diverse entities like banks, NBFC-MFIs and NBFCs adhere to standards of customer protection, a statement by Micro-finance Institutions Network (MFIN) said.
  • Members of the steering committee include Harsh Shrivastava of MFIN, P Satish of Sa-Dhan, Srinivas Bonam of IndusInd Bank and Sonia Krishnankutty of L&T Finance among others.

China, Pakistan to hold joint naval drills in Arabian Sea

  • Navies of China and Pakistan will hold joint maritime exercises in the northern Arabian Sea next year to enhance their all-weather strategic partnership, the Chinese military announced.
  • The two countries will conduct joint maritime exercises in Pakistan in 2020, spokesman of the Chinese Ministry of Defence Col Ren Guoqiang.

Static :

  • China Capital : Beijing
  • China Currency : Chinese Yuan
  • China President : Xi Jinping

China completes lander test for first Mars mission in 2020

  • China on Thursday successfully completed a lander test in northern Hebei province ahead of an unmanned exploration mission to Mars next year.
  • China is on track to launch its Mars mission in 2020, Zhang Kejian, head of the China National Space Administration.
  • China has developed the powerful Long March 5 rocket to transport the probe to Mars in 2020. The same rocket is meant to deliver the Chang’e-5 probe to the moon by the end of 2019 or early next year to bring back samples of lunar rocks.
  • The Chang’e-4 probe successfully touched down on the far side of the moon in January this year, a historic first and major achievement for China’s space programme. China made its first lunar landing in 2013.

Arctic Ocean may be ice-free for part of year by 2044

  • Human-caused climate change is on track to make the Arctic Ocean functionally ice-free for part of each year starting sometime between 2044 and 2067, according to a study.
  • Researchers at the University of California, Los Angeles (UCLA) in the US noted that as long as humans have been on Earth, the planet has had a large cap of sea ice at the Arctic Circle that expands each winter and contracts each summer.
  • Among the current generation of models, some show ice-free Septembers as early as 2026, while others suggest the phenomenon will begin as late as 2132

State news

Saudi Arabia and UAE discuss USD 70 billion crude refinery project in Maharashtra

  • Saudi Arabia and the United Arab Emirates discussed a planned refinery in Maharashtra that will cost at least USD 70 billion, a figure that exceeds the initial USD 44 billion estimate previously announced.
  • The new figure came from readout of a meeting in the UAE between Saudi Crown Prince Mohammed bin Salman and Abu Dhabi Crown Prince Mohammed bin Zayed Al Nahyan Wednesday evening.
  • The project, which would be run by a consortium that includes Saudi Aramco and ADNOC, has yet to begin or secure land

Static:

  • Saudi Arabia Capital :Riyadh
  • Saudi Arabia Currency : Saudi riyal

Government mulling setting up 4,000 MW solar plant in Kurnool

  • Chief Secretary Nilam Sawhney said that the proposal for land allotment of a 4,000 MW solar power plant in Kolimigundla mandal of Kurnool district was under the government’s consideration.
  • She also said that the government would resolve in a week various pending issues pertaining to the 1,000 MW ultra mega solar park in Kadapa.
  • “The Solar Energy Corporation of India (SECI) Ltd has come forward to set up a 4,000 MW solar plant in Kolimigundla mandal (Kurnool). The land allotment for the proposal is under government’s consideration
  • The 1,000 MW solar ultra mega park established in Kurnool and 500 MW solar park commissioned in Talari under solar power evacuation scheme were already generating power, she observed.
  • Energy Secretary Srikant Nagulapalli was also present in the meeting

Delhi’s Khan Market is world’s 20th most expensive retail location

  • Causeway Bay in Hong Kong retains the number one ranking
  • Delhi’s upscale Khan Market has moved up one position to become the world’s 20th most expensive retail location, according to global property consultant Cushman & Wakefield.
  • New York’s Upper 5th Avenue is at second position ($2,250 per sq ft), followed by London’s New Bond Street ($1,714 per sq ft) and Avenue des Champs Elysees in Paris ($1,478 per sq ft).
  • Via Montenapoleone in Milan, Italy ranks fifth with an annual rent of ($1,447 per sq ft, the report said.

Tumakuru, Danish city of Aalborg sign MoU under smart city initiative

  • A Memorandum of Understanding (MoU) was signed between Tumakuru Smart City Ltd. and the Danish city of Aalborg with the aim of strengthening ties between the two cities.
  • “The central objective of this MoU is to strengthen institutional ties between Tumakuru and Aalborg. Also to foster a sister city concept to enable sustained bilateral cooperation that will encourage knowledge transfer across government, business and academia,” 
  • Tumakuru Smart City Limited Chairperson Shalini Rajneesh signed the MoU with Ambassador of Denmark Freddy Svane.
  • In urban water management, interventions and additional improvement for 24×7 water supply and filling up of Hemavathi river water to Amanikere Lake are envisaged at a cost of 56.55 crore 
  • They will cooperate in the field of smart education, digitisation, energy efficiency initiative, urban water management, transportation, technology for the construction of green buildings, waste management, healthy and liveable cities, health and e-governance.

Sports news

Champions Boat League: Tropical Titans win the battle of the backwaters

  • Tropical Titans rowed past Raging Rowers by just 11 milliseconds while the difference between the runner up and the third placed team, Mighty Oars, was just 13 milliseconds.
  • Second placed Raging Rowers, while third placed Mighty Oars.
  • Next year’s edition promises to be bigger and better with the two Kerala ministers present at the final race announcing mega plans for CBL 2020.

Sports Ministry constitutes committee to review Draft National Sports Code

  • Sports Ministry has constituted a 13-member expert committee to review the Draft National Sports Code. The expert committee will be headed by former Supreme Court judge Justice Mukundakam Sharma. 
  • Former sports persons Gagan Narang, Bhaichung Bhutia, Anju Bobby George and national badminton coach Pulella Gopichand are part of the panel. Boxing Federation president Ajay Singh, Kho Kho Federation president Sudhanshu Mittal, Athletics Federation president Adille Sumariwala and Weightlifting Federation president B P Baishya have been included in the committee.
  • The panel will also feature a representative from the Indian Olympic Association.  Director General Sports Authority of India or his representative and Dr A Jayathilak, Principal Secretary Sports in Government of Kerala will be the other members of the panel.  Joint Secretary (Sports) will be the coordinator in the committee.

13th South Asian Games Starts in Nepal

  • The South Asian Games (SAF Games, SAG, or SA games, and formerly known as South Asian Federation Games) are a biennial multi-sport event held among the athletes from South Asia.
  • The governing body of these games is South Asia Olympic Council (SAOC), formed in 1983. At present, SAG are joined by eight members namely Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan, and Sri Lanka.
  • Motto: Peace, Prosperity and Progress

Static: 

  •  Nepal capital : Kathmandu
  •   Currency       : Nepalese Rupee

Ekalabya award for Odia weightlifter Jhilli Dalabehera

  • Odia women weightlifter Jhilli Dalabehera, who has brought laurels for both the State and the country in several national and international events, will receive the 27th Ekalabya Award for 2019. 
  • The annual award instituted by Indian Metals Public Charitable Trust (IMPaCT) comprises a cash prize of Rs 5 lakh along with a citation. It would be presented at the Ekalabya Award function, the date for which will be announced soon.
  • Jhilli has bagged two gold, three silver and a bronze medal in different international weightlifting events held between April 1, 2017 and March 31, 2019. 
  • Women footballer Jabamani Tudu and women hockey player Namita Toppo will receive a cash award of Rs 50,000 each along with citations. 

Debutant Van Rooyen is 10th different Hero Challenge winner

  • Debutant Erik van Rooyen of South Africa became the 10th different winner of the Hero Challenge events as he emerged champion in the latest edition under the lights at Atlantis, The Palm in Dubai. In an event where the players aim at a customised target, this one in the water at the Beach, no one has won more than once.
  • Van Rooyen received his Trophy from Dr. Pawan Munjal, Chairman Hero MotoCorp.
  • Van Rooyen beat two Masters champions, Patrick Reed (2018) and Danny Willett (2016) in a row on way to the title. Earlier he came through his Group that included Rafa Cabrera Bello and 2016 Open winner, Henrik Stenson. Van Rooyen totalled 135 to Cabrera-Bello’s 110 and Stenson’s 90.

National News

Indian Navy commissions sixth Dornier aircraft squadron

  • Indian Naval Air Squadron 314, the sixth Dornier aircraft squadron was commissioned today at Naval Air Enclave- Porbandar on Gujarat coast.
  • Deputy Chief of Naval Staff Vice Admiral M S Pawar was the chief guest on this occasion.
  • Vice Admiral Pawar said that commissioning of Indian Naval Air Squadron (INAS) 314 – marks yet another milestone in country’s efforts towards enhancing maritime security and surveillance footprint in the North Arabian Sea.
  • INAS 314 derives its name Raptors from the Bird of Prey family. Raptors are large birds of prey known for excellent sensory capabilities, powerful and sharp talons and strong wings symbolizing the capabilities of the aircraft and envisaged roles of the squadron

India, Japan to hold Foreign and Defence Ministerial Dialogue in New Delhi today

  • India-Japan Foreign and Defence Ministerial Dialogue, two plus two will be held in New Delhi. 
  • Defence Minister Rajnath Singh and External Affairs Minister Dr. S. Jaishankar will head the Indian delegation, while the Japanese delegation will be led by Foreign Affairs Minister Toshimitsu Motegi and Minister of Defence Mr. Taro K.
  • “The 2+2 meeting would provide an opportunity for the two sides to review the status of and exchange further views on strengthening defence and security cooperation between India and Japan so as to provide greater depth to the ‘India-Japan Special Strategic and Global Partnership’

Static :

  • Japan Capital : Tokyo
  • Japan Currency: JapaneseYen

India, Bhutan hold talks on development cooperation

  • Bhutan Foreign Minister Tandi Dorji with External Affairs Minister S. Jaishankar in New Delhi. 
  • Special Arrangement India has committed an assistance of 4,500 crore for the implementation of development projects and 400 crore for transitional trade support facility during Bhutan’s 12th Five Year Plan(2018-2023). 51 large and intermediate projects and 359 small development projects are at various stages of implementation under the 12th five year plan of Bhutan. 
  • The Indian delegation was led by TS Tirumurti, Secretary (Economic Relations) in the Ministry of External Affairs. The Bhutanese side was led by Kinga Singye, Foreign Secretary of Bhutan.
  • The two sides agreed to hold the next Development Cooperation Talks in 2020 in Thimphu on a mutually agreed date.The annual India-Bhutan development cooperation talks were held in a friendly atmosphere in keeping with the close and friendly ties between the two countries.

India, Mozambique reiterate commitment to strengthen bilateral cooperation

  • India and Mozambique today reiterated their commitment to strengthen bilateral defence cooperation.
  • Mozambique Minister of Defence Atanasio Salvador M’ Tumukeis today met Defence Minister Rajnath Singh in New Delhi.
  • The visiting dignitary is on an official visit to India along with a delegation. The delegation yesterday visited Bharat Electronics Limited and Hindustan Aeronautics Limited at Bengaluru.

Static :

Mozambique Capital : Maputo

Mozambique Currency: Mozambican metical

Army test-fires newly acquired Israeli anti-tank missile in Madhya Pradesh

  • In Madhya Pradesh, the Indian Army has successfully test fired two Spike long-range anti-tank missiles at Mhow 
  • Spike long-range anti-tank guided missile a fourth generation weapon, can engage a target with precision at ranges up to 4 km The Army on Wednesday successfully tested two newly acquired Spike long-range (LR) anti-tank guided missiles at the Infantry School at Mhow, Madhya Pradesh.
  • The Army has recently procured a small batch of 12 launchers and 250 missiles from Israel using its new financial powers to make emergency procurements sanctioned by the Defence Ministry a few months back. 
  • the Defence Research and Development Organisation (DRDO) has said in a sharp response to statements that raised questions on the programme. A new Man Portable ATGM (MPATGM) was also in advanced stages of trials
  • India became the 33rd country to induct the missile. Under the emergency powers given to the Services after the Balakot air strike, they can procure equipment worth up to 300 crore on a priority basis 
  • Spike-LR is a fourth-generation missile, which can engage a target with precision at ranges up to 4 km. In addition to the fire-and-forget capability.

United Nations Development Programme launches Accelerator Lab in India to work on tackling pollution

  • Delegates at the launch event for UNDP India’s Accelerator Lab in New Delhi on Thursday. The project was launched in collaboration with the government’s Atal Innovation Mission.
  • The laboratory that will be housed in the UNDP India office has partnered with the Indian government’s Atal Innovation Mission to achieve its objectives.
  • The UNDP India office adding the vision is to make faster progress in meeting the ambitious Sustainable Development Goals (SDGs) of the U.N. by 2030.
  • UNDP headquarters : New York
  • UNDP Head : Achim Steiner

India to set up 12 hi-tech parks in Bangladesh

  • India will set up 12 hi-tech parks in Bangladesh at a cost of $193 million.
  • High Commissioner of India to Bangladesh Riva Ganguly Das said that these hi-tech parks will provide training to 30,000 youth of Bangladesh as skilled IT professionals.
  • She also inaugurated Swami Vivekananda Bhawan at Rangpur which houses a Computer Center, Charitable Medical Centre, Coaching centre and student’s home.

Static :

  • Bangladesh Capital : Dhaka
  • Bangladesh Currency : Bangladeshi Taka

Government extends mandatory roll out date for FASTags to December 15

  • The highways ministry on Friday extended the December 1 deadline for roll out of 100% electronic toll collection through FASTag across the entire NH network to December 15 
  • This has been done to provide some more time to citizens to buy and put FASTag on their vehicles, the ministry said FASTag lanes at toll booths in Dakshina Kannada and Udupi districts of Karnataka 
  • The highways ministry on Friday extended the December 1 deadline for roll out of 100% electronic toll collection through FASTag across the entire NH network to December 15.

State News

Three-day international cow exhibition on Indian breeds to conclude in Pune

  • The Kamdhenu Seva Pratishthan has organised a ‘World Cow Conference and Agri Expo’ an international show on Indian breeds from November 29 to December 1, 2019 in Pune. 
  • The three-day conference will be held at Survey number 37, 42, Sai Chowk, Balewadi Road, opp Gyanba Sopanrao Moze College, Balewadi – Haveli, Pune. 
  • The conference will be inaugurated on November 29 at 10 am by president of National Kamdhenu Commission Dr. Vallabhbhai Kathiriya. The chairman of the conference will be eminent scientist Dr. Vijay Bhatkar 
  • The conference, experts and researchers of cow breeds from India, United States of America, Brazil, Sweden and Canada will guide the participants.

Second edition of Mangaluru Lit Fest 2019 concludes

  • A literary stimulation on either side of ideological divide awaits aficionados when the second edition of Mangaluru Lit Fest 2019 on the theme The Idea of Bharat – “Today and Tomorrow gets underway”. 
  • Likewise Sunil Ambekar will have a tete-a-tete with Savio Rodrigues, journalist on the book ‘The RSS: Roadmaps for the 21st Century’. 
  • In addition, yakshagana workshop, clay modelling workshop, art workshop and exhibition, drawing and painting competitions, storytelling, photography exhibition will mean that the art and literary connoisseurs have a lot to see.

AWARDS AND HONOURS

Noted Malayalam poet Akkitham Achuthan Nampoothiri wins 55th Jnanpith award 

  • Malayalam poet Akkitham Achuthan Nampoothiri has been chosen for the 55th Jnanpith Award.
  • Akkitham has authored 55 books out of which 45 are collections of poems including “Khanda Kavyas”, “Katha Kavyas”, “Charitha Kavyas” and songs.
  • Some of his celebrated creations include “Veeravadam”, “Balidarsanam”, “Nimisha Kshethram”, “Amrita Khatika”, “Akkitham Kavithaka”, “Epic of Twentieth Century” and “Antimahakalam“.

Obituary

World-renowned rock climber Brad Gobright dies in Mexico fall

  • A world-renowned rock climber, US national Brad Gobright, fell to his death while climbing a sheer rock face in northern Mexico.
  • Thirty-one-year-old Gobright and fellow American Aidan Jacobson were climbing a route known as the Shining Path in the northern state of Nuevo Leon on Wednesday when they fell.
  • Witnesses said the men had finished climbing the 900-metre summit and were rappelling back down when the accident occurred. Gobright was known for his gravity-defying solo ascents with no ropes.

Japan: Former PM Yasuhiro Nakasone dies at 101

  • In Japan, Yasuhiro Nakasone, one of the longest-reigning Prime Ministers and known for his friendship with Ronald Reagan died at the age of 101. He passed away at a Tokyo hospital today.
  • Nakasone, Prime Minister from 1982 to 1987, shared the world stage with Reagan and Margaret Thatcher while battling with bureaucrats over domestic reforms.
  • In 1983, he became the first Japanese Premier to officially visit South Korea, mending fences with a country that Japan had brutally colonized from 1910 to 1945.
  • Prime Minister Narendra Moid has condoled his demise.
    Mr Modi said, his path-breaking visit to India, which was the first by a Japanese Prime Minister after a gap of 23 years will always be remembered.

Japan Capital : Tokyo

Japan Currency: Yen

BANKING AND ECONOMY

RBI files insolvency application against debt laden DHFL

  • RBI has filed an application for initiation of corporate insolvency resolution process against DHFL
  • DHFL is one of the biggest defaulters in the country that owes over Rs 1 lakh crore (over $14 billion) to its debtors Insolvency and Bankruptcy Code (IBC), 2016,” RBI said in a press release.
  • DHFL has became the first financial service provider to face the bankruptcy court under the new bankruptcy rules. On November 15, the corporate affairs ministry had notified these rules to deal with the resolution of financers apart from banks.

ADB signed USD 451 million loan with India for CKIC Project

  • The Asian Development Bank (ADB) and the Government of India signed a $451 million loan on 29 November. The loan aims to strengthen power connectivity between the southern and northern parts of the Chennai- Kanyakumari Industrial Corridor (CKIC) in Tamil Nadu. 
  • It is a part of the East Coast Economic Corridor (ECEC). Aim: The Tamil Nadu state aims to develop the northern Chennai-Tiruchirappalli area of CKIC as a manufacturing center. 
  • It also targets the relatively poor southern Madurai-Thoothukudi portion for the development of renewable energy-based power generation because of the availability of wind and solar resources. CKIC Project:The total estimated cost of the CKIC project is $653.5 million. 
  • The Central government will provide $202.5 million for the project. The project has been estimated to be the completed date of the project is the end of 2024
  • CKIC covers 23 districts of Tamil Nadu and 70% of the state population. The project will establish an extra-high voltage of 765 kilovolt (kV) transmission link that can transfer the 9,000 MW of extra capacity from Virudhunagar in the southern CKIC to Coimbatore and Chennai. 
  • The CKIC project includes the construction of a 400 kV network to provide power generated at renewable and thermal power plants in Thoothukudi district to Virudhunagar.

RBI Announces Revised Framework On Currency Swap Arrangement For SAARC Countries

  • The Reserve Bank of India, with the concurrence of the Government of India, has decided to put in place a revised Framework on Currency Swap Arrangement for SAARC countries 2019-2022, to further financial stability and economic cooperation within the SAARC region.
  • The Framework is valid from November 14, 2019 to November 13, 2022. Based on the terms and conditions of the Framework, the RBI would enter into bilateral swap agreements with SAARC central banks, who want to avail swap facility.
  • The SAARC Currency Swap Facility came into operation on November 15, 2012 with an intention to provide a backstop line of funding for short term foreign exchange liquidity requirements or balance of payment crises till longer term arrangements are made.
  • Under the Framework for 2019-22, RBI will continue to offer swap arrangement within the overall corpus of US $ Two billion.
  • The drawals can be made in US Dollar, Euro or Indian Rupee. The Framework provides certain concessions for swap drawals in Indian Rupee.
  • The Currency Swap Facility will be available to all SAARC member countries, subject to their signing the bilateral swap agreements.

Static: 

  • SAARC Headquarters : Kathmandu , Nepal.

ADB clears $250-mn loan to help EESL expand energy efficiency investments

  • The Asian Development Bank (ADB) has approved a loan of USD 250 million (about Rs 1,775 crore) as part of an assistance package to EESL to expand energy efficiency investments in India.
  • Activities to be undertaken by the Energy Efficiency Services Limited (EESL) in eligible states include energy efficiency opportunities not targeted by traditional energy service company investments, such as smart meters, distributed solar photovoltaic systems, and e-vehicles.
  • The total cost of the project is USD 592 million, of which the Clean Technology Fund will provide USD 46 million to be administered by ADB, and the EESL will contribute USD 296 million.
  • Accompanying the loan will be a technical assistance (TA) of USD 2 million to support EESL in implementing the project, due for completion in March 2025.
  • Asian Development Bank Headquarters : Mandaluyong, Philippines
  • Asian Development Bank President : Takehiko Nakao

Sports News

Shooting: Angad Bajwa unofficially hits world record score in skeet final

  • In shooting, Angad Vir Singh Bajwa unofficially hit a world record score in the men’s skeet final at the 63rd National Shooting Championships for Shotgun events in New Delhi.
  • Angad defeated his senior and fellow Tokyo 2020 quota winner Mairaj Ahmad Khan of Uttar Pradesh, shooting a clean 60. Mairaj scored 58.
  • Angad also equalled a record he jointly holds with skeet legend Vincent Hancock and two others.
  • Mairaj also had a splendid day, shooting a world record himself, a perfect 125 in qualifying to breeze into the final. However, both Angad and Mairaj will be credited with National records.
  • Saniya Sheikh bagged her third national title-winning the women’s skeet event defeating state-mate Areeba Khan 10-8.
  • Abhay Singh Sekhon and Parnaaz Dhaliwal of Punjab also won the junior men’s and women’s skeet golds.

Sathiyan wins both group matches to enter last-16 in ITTF World Cup

  • India’s G Sathiyan won both his group matches against higher-ranked opponents to enter the round of 16 in the International Table Tennis Federation (ITTF) Men’s World Cup at Chengdu, China today.
  • The world number 30 Sathiyan defeated Frenchman Simon Gauzy, ranked eight places above him, 4-3 in an energy-sapping first match before a 4-2 win over world number 24 Groth Jonathan of Denmark.
  • The Indian topped top group D standings with four points to book a pre-quarterfinal berth.

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 If you have any doubts regarding the 4 new Topic Wise Test Packages, kindly mail your queries to virtualracetest@gmail.com.

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