Daily Current Affairs: November 1, 2021

Daily Current Affairs (November 1, 2021) like many other sections is inevitable and this also helps to score in the Banking awareness, Static GK, and Financial Awareness sections. Remember, Banking Awareness, and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

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Important Days

National Unity Day – 31 October

• National Unity Day or Rashtriya Ekta Diwas is observed on 31 October to pay homage to veteran independence fighter Sardar Vallabhbhai Patel, India’s first Home Minister, whose role in persuading many princely states to join the Union of India after independence is particularly noteworthy.
• This year (2021) marks the 146^th birth anniversary of Sardar Vallabhbhai Patel.
• The Union Government declared to observe 31 October as National Unity Day in 2014.

World Savings Day – 31 October

• World Savings Day or World Thrift Day is observed on 31 October to increase the public’s awareness of the importance of savings both for modern economies and for individuals.
• World Savings Day was established on 31 October 1924 during the first International Savings Bank Congress (World Society of Savings Banks) in Milano, Italy.

World Cities Day – 31 October

• World Cities Day is observed on 31 October every year to promote the international community’s interest in global urbanisation.
• This day was established on 27 December 2013 by the United Nations General Assembly (UNGA).
• It is observed with sustainable development goal to make cities “inclusive, safe, resilient and sustainable”.
• Theme for 2021: ‘Adapting Cities for Climate Resilience’.

World Vegan Day – 1 November

• World Vegan Day is observed on 1 November every year to celebrate the tradition of eating an entirely plant-based meal free of dairy and animal products.
• This year (2021) marks the 77 years of World Vegan Day.
• This day was established on 1 November 1944 to mark the golden jubilee of the UK Vegan Society to celebrate the term ‘Vegan’.

National News

India and Israel to set up Task Force on a ten-year roadmap to identify new areas of defence cooperation

• During the 15^th India–Israel Joint Working Group meeting in Tel Aviv, India and Israel decided to form a Task Force to formulate a comprehensive ten-year roadmap to identify new areas of defence cooperation.
• India and Israel reviewed the progress made in military-to-military engagements, including exercises and industry cooperation.
• The formation of these sub-working groups would allow for more efficient use of bilateral resources, better technology flow and the sharing of industrial capabilities.

Union Ministry of Rural Development launches an initiative to enable rural self-help group women to earn at least ₹1 lakh per annum

• Union Ministry of Rural Development launched an initiative with the goal of enabling rural self-help group (SHG) women to earn at least ₹1 lakh per annum and to put a greater emphasis on pushing women up the economic order.
• Poor women from various classes and castes create self-help groups and associated federations under the National Rural Livelihood Mission, which provides financial, economic and social development services to their members in order to improve their income and quality of life.

Union Minister of Housing and Urban Affairs inaugurates the 14^th Urban Mobility Conference 2021

• Union Minister of Housing and Urban Affairs & Petroleum and Natural Gas Hardeep Singh Puri inaugurated the 14^th edition of the Urban Mobility India (UMI) Conference 2021 with the theme ‘Mobility for All’.
• This conference focuses on providing equitable access and promoting inclusive urban transportation, which aims to provide affordable, clean, safe, informative, efficient and accessible transportation systems, with special attention to the diverse needs of all segments of society, particularly the disabled, the elderly, women and children.
• Sustainable mobility and universal access are crucial for achieving the 2030 Agenda of Sustainable Development Goals (SDGs).

Prime Minister Narendra Modi participates in the 16^th G-20 Summit to hold discussions on global economic and health recovery from the COVID-19 pandemic

• Indian Prime Minister Narendra Modi, along with the other countries’ counterparts, participated in the two-day 16^th G-20 Summit held in Rome, Italy.
• Italy currently holds the Presidency of the G20 Summit 2021 under the theme — ‘People, Planet, Prosperity’ — with a focus on recovery from the pandemic & strengthening global health governance, economic recovery & resilience, climate change & energy transition and sustainable development & food security.

State News

Kerala celebrates its 65^th Formation Day on 1 November

• Kerala celebrated its 65^th Formation Day on 1 November. The state of Kerala was created on 1 November 1956 amalgamating the erstwhile provinces of Malabar, Cochin and Thiruvithancoor.

Kerala

• Capital: Thiruvananthapuram
• Chief Minister: Pinarayi Vijayan
• Governor: Arif Mohammed Khan
• National Parks: Anamudi Shola National Park, Eravikulam National Park, Mathikettan Shola National Park, Pambadum Shola National Park, Periyar National Park, Silent Valley National Park

Banking & Economy

RBI eases current account rules for borrowers with bank exposures of less than ₹5 crores

• Reserve Bank of India (RBI) has eased the current account rules for borrowers with bank exposures of less than ₹5 crores. Borrowers can open current accounts, cash credit accounts and overdraft facilities without any restrictions. They will also not face any curbs on the provision of cash credit or overdraft facilities by banks.
• Borrowers having an exposure of more than ₹5 crores will be able to keep their current accounts with any of the banks with which they have cash credit or overdraft facilities, as long as the bank has at least 10% of the banking system’s exposure to that borrower.
• RBI has also permitted banks to open and maintain inter-bank accounts, all accounts with institutions like EXIM Bank, NABARD, NHB and SIDBI, accounts attached by orders of central or state governments and investigative agencies without any restrictions.

Reserve Bank of India (RBI)

• Headquarters: Mumbai, Maharashtra
• Formation: 1 April 1935
• Governor: Shaktikanta Das
• Deputy Governors: K. Jain, M. D. Patra, M. Rajeshwar Rao and T. Rabi Sankar
• Subsidiaries: Deposit Insurance and Credit Guarantee Corporation (DICGC), Bharatiya Reserve Bank Note Mudran Limited (BRBNML)

Asian Development Bank (ADB) approves $250 million for developing industrial corridors in India for the National Industrial Corridor Development Program (NICDP)

• Asian Development Bank (ADB) has approved a $250 million (about ₹1875 crores) loan to support India’s National Industrial Corridor Development Programme (NICDP).
• This programme aims to create world-class industrial hubs that are supported by efficient urban agglomerations and multimodal connections, such as international gateways like ports and airports, as well as inclusive, climate- resilient and sustainable infrastructure.

Asian Development Bank (ADB)

• Founded: 19 December 1966
• Headquarters: Mandaluyong, Philippines
• President: Masatsugu Asakawa

Bandhan Bank gets empanelled as an agency bank of RBI

• Reserve Bank of India (RBI) has empanelled Bandhan Bank as an agency bank to facilitate transactions related to government businesses.
• Bandhan Bank would be able to conduct transactions pertaining to state tax collection, revenue receipts such as GST and VAT, stamp duty collection and pension payments on behalf of the central and state governments as an agency bank.

Bandhan Bank

• Headquarters: Kolkata, West Bengal
• MD & CEO: Chandra Shekhar Ghosh

Appointments

Arun Chawla was appointed as the Director-General of the FICCI

• Arun Chawla was appointed as the Director-General of the Federation of Indian Chambers of Commerce and Industry (FICCI).
• He joined FICCI in 2011 and is currently serving as the Deputy Secretary-General of FICCI.

FICCI

• Headquarters: New Delhi
• Founded: 1927
• CEO: Sangita Reddy

Ranks and Indices

Microsoft surpasses Apple to become the world’s most valuable company

• Microsoft surpassed Apple in market capitalisation, making it the world’s most valuable publicly traded firm.
• Microsoft’s market capitalisation stood at $2.49 trillion, while Apple’s market capitalisation stood at $2.46 trillion.
• Microsoft has surpassed Apple’s market capitalisation in previous instances as well. For the first time since 2010, Microsoft surpassed Apple’s market capitalisation in 2018 and later in July 2020.

Microsoft

• Headquarters: Washington D. C., The United States
• MD & CEO: Satya Nadella

Agreements and MoUs signed

Axis Bank signs an MoU with the Indian Navy for a defence service salary package

• Axis Bank has signed a Memorandum of Understanding (MoU) with the Indian Navy, offering a defence service salary package with best-in-class benefits and features under its ’Power Salute’
• The benefits include a personal accident cover of up to ₹56 lakhs to all navy personnel, veterans and cadets, additional cover up to ₹8 lakhs children education grant and a total permanent disability cover benefit up to ₹46 lakhs.

Sports News

Kashmiri girl Tajamul Islam wins the gold medal in U-14 World Kickboxing Championship in Cairo, Egypt

• Srinagar’s Taijul Islam won the gold medal in the Under-14 category of the World Kickboxing Championship that was held in Cairo, Egypt. She defeated Lalina from Argentina in the final.
• She is the first Kashmiri girl to have represented India in the competition.
• She is also a brand ambassador of the ‘Beti Bachao Beti Padhao’

Obituary

Former Australian all-rounder Peter Philpott passed away

• Former Australian all-rounder Peter Philpott passed away at the age of 86.
• He was a former South Wales captain and made his test debut in the 1964–65 series in the West Indies, where he captured 18 wickets.

Daily CA- 1 November One liners

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