Daily Current Affairs: November 3, 2021

Daily Current Affairs (November 3, 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.

Also, Don’t forget to attend the Daily Current Affairs Quiz – November 3, 2021, now @ our Bankersdaily Tests.

SUBSCRIBE to Race Youtube Channel for CA QUIZ LIVE Sessions

Check: Previous – Daily Current Affairs – Banking Exam

National News

Union Ministry of Rural Development signs an MoU with Flipkart to strengthen National Rural Livelihood Mission

• The Union Ministry of Rural Development has signed a Memorandum of Understanding (MoU) with Flipkart to sell products created by millions of artisans as part of the Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY-NRLM) initiative, especially those that are led by women by bringing them into the e-commerce fold.
• This MoU is a part of Flipkart’s Samarth programme, which aims to empower skilled but underserved communities of craftsmen, weavers and artisans with national market access as well as focused knowledge and training through the Flipkart marketplace.

Union Home Minister Amit Shah launches ‘Ayushman CAPF’ health card to provide healthcare services to all CAPF personnels and their dependents

• Union Home Minister Amit Shah has launched ‘Ayushmaan CAPF’ health card to provide healthcare services to all Central Armed Police Force (CAPFs) personnel and their dependents.
• This scheme is a joint initiative of the Union Ministry of Home Affairs (MHA), the Union Ministry of Health and Family Welfare (MoHFW) and the National Health Authority (NHA).
• Under this scheme, health cards will be distributed to more than 35 lakh beneficiaries across various CAPFs, including serving force personnel and their family members.

India launches an online dashboard named ‘Climate Equity Monitor’ for assessing equity in climate action

• India launched an online dashboard named ‘Climate Equity Monitor’, at the climate change conference ‘COP26’, for assessing equity in climate action, inequalities in emissions, energy and resource consumption around the world and ongoing climate policies of several countries from the perspective of developing countries at the international level.
• The dashboard has been conceptualised and developed by independent researchers from India, including the Climate Change Group at the S. Swaminathan Research Foundation, Chennai and the Natural Sciences Engineering Department at the National Institute of Advanced Studies (NIAS), Bengaluru.

Indian Renewable Energy Development Agency (IREDA) launches ‘Whistle blower’ portal to check frauds and abuse of power

• The Indian Renewable Energy Development Agency (IREDA) launched a ‘Whistle blower’ portal as a part of the Vigilance Awareness Week 2021.
• Through this portal, IREDA employees can raise concerns related to fraud, corruption and abuse of power.

 State News

Five states in India observes their formation day on 1 November 2021

• Five Indian states observed their formation day on 1 November 2021. The five states are as follows:

Manipur Chief Minister launches the ‘Go to Village 2.0’ campaign to deliver the governance at the doorstep

• Manipur Chief Minister N. Biren Singh launched the ‘Go to Village 0’ campaign at Thoubal district to deliver governance at the doorstep and bring inclusive development in Manipur.
• During the campaign, Biren Singh distributed assistance under various schemes, including CM e-Support Scheme, Manipur Start-Up Scheme, Cards under Pradhan Mantri Jan Arogya Yojana (PMJAY) and CMHT, Widows’ Pension Scheme, assistance under Prime Minister Garib Kalyan Anna Yojana (PMGKAY) and Pradhan Mantri Ujjwala Yojana (PMUY).

Manipur

• Capital: Imphal
• Chief Minister: Biren Singh
• Governor: Ganesan

International News

India and the UK’s ambitious global solar grid plan ‘One Sun, One World, One Grid’ was launched

• Indian Prime Minister Narendra Modi and his UK counterpart Boris Johnson jointly launched the Green Grids Initiative — One Sun, One World, One Grid (GGI-OSOWOG), the first worldwide network of global interconnected solar power grids at the UN climate conference (COP26).
• This initiative will be the first international network of global interconnected solar power grids, which will combine large scale solar power stations, wind farms and grids with rooftop solar and community grids to ensure a reliable, resilient and affordable supply of clean energy for all.

Banking & Economy

Reserve Bank of India revises the Prompt Corrective Action (PCA) Framework for banks to be effective from 1 January 2022

• The Reserve Bank of India (RBI) has reviewed and revised the existing Prompt Corrective Action (PCA) framework for Scheduled Commercial Banks (SCBs), with the amendments taking effect on 1 January 2022.
• Capital, asset quality and leverage are the key areas for monitoring in the revised framework.
• The main objective of this exercise is to allow supervisory involvement at the right time, after which the supervised entity is required to implement remedial steps in a timely way to restore financial stability.
• According to the Reserve Bank of India’s updated Prompt Corrective Action (PCA) framework, stressed banks may be barred from expanding their credit portfolios and directed to limit outsourcing activities but are allowed to invest in government securities/other high-quality liquid investments.
• Taking a bank out of the PCA framework and/or withdrawal of restrictions imposed will be considered if no violations in risk thresholds in any of the parameters are observed as per four continuous quarterly financial statements, one of which should be Audited Annual Financial Statement.
• The revised framework incorporates a resolution of a PCA bank by Amalgamation or Reconstruction under Section 45 of the Banking Regulation Act, 1949.
• This framework is applicable to all banks operating in India, including international banks operating through branches or subsidiaries based on the breach of risk thresholds of identified indicators.

Reserve Bank of India is set to launch a web-based supervisory system soon

• The Reserve Bank of India (RBI) is set to launch a web-based supervisory system that will allow for off-site and on-site supervision of modern operations such as digital banking and cyber security.
• A web-based and end-to-end workflow automation system has been designed by the RBI for continuous engagement with supervised entities.

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)

Acquisitions & Mergers

HDFC Life Insurance acquires 100 per cent stake in Exide Life Insurance

• The Competition Commission of India (CCI) has approved HDFC Life Insurance’s acquisition of 100 per cent shareholding in Exide Life Insurance under Section 31 (1) of the Competition Act, 2002.
• After the acquisition, Exide Life (which will be a wholly-owned subsidiary of HDFC Life) is proposed to be merged with HDFC Life.

Awards and Recognitions

National Mission for Clean Ganga sets a Guinness World Record

• On the first day of the Ganga Utsav (1 November) – the River Festival 2021, the National Mission for Clean Ganga (NMCG) was inducted into the Guinness Book of World Records for uploading the most images of handwritten remarks to Facebook in an hour.
• The Ganga Utsav from 1 November 2021 to 3 November 2021 was organised to raise awareness on the Ganga rejuvenation and to give impetus to the reach of the River Festival 2021.

Sports News

Union Ministry of Youth Affairs and Sports announces the National Sports Awards 2021

• Union Ministry of Youth Affairs and Sports announced the National Sports Awards 2021 and the awardees will receive their awards from the President of India on 13 November 2021 in New Delhi.

The National Sports Awards 2021 awardees are:

• Major Dhyan Chand Khel Ratna Award 2021 – Neeraj Chopra, Avani Lekhara, Ravi Kumar, Sumit Antil, Lovlina Borgohain, P. R. Sreejesh, Pramod Bhagat, Manish Narwal, Krishna Nagar, Mithali Raj, Sunil Chhetri, Manpreet Singh.
• Arjuna Awards – Arpinder Singh, Simranjit Kaur, Shikhar Dhawan, Bhavani Devi, Monika, Vandana Katariya, Sandeep Narwal, Himani Uttam Parab, Abhishek Verma, Ankita Raina, Deepak Punia, Dilpreet Singh, Harmanpreet Singh, Rupinder Pal Singh, Surender Kumar, Amit Rohidas, Birendra Lakra, Sumit, Nilakanta Sharma, Hardik Singh, Vivek Sagar Prasad, Gurjant Singh, Mandeep Singh, Shamsher Singh, Lalit Kumar Upadhyay, Varun Kumar, Simranjeet Singh, Yogesh Kathuniya, Nishad Kumar, Praveen Kumar, Suhas Yathiraj, Singhraj Adhana, Bhavina Patel, Harvinder Singh, Sharad Kumar.
• Dhronacharya Award (Life Time category) – P. Ouseph, Sarkar Talwar, Sarpal Singh, Ashan Kumar, Tapan Kumar Panigrahi.
• Dhronacharya Award (Regular category) – P. Radhakrishnan Nair, Sandhya Gurung, Pritam Siwach, Jai Prakash Nautiyal, Subramanian Raman.
• Dhyan Chand Award for Lifetime Achievement in Sports and Games – C. Lekha, Abhijeet Kunte, Davinder Singh Garcha, Vikas Kumar, Sajjan Singh.
• Rashtriya Khel Protsahan Puraskar 2021 – Manav Rachna Educational Institution (for identification and nurturing of budding and young talent), Indian Oil Corporation Limited (for encouragement to sports through corporate social responsibility).
• Maulana Abul Kalam Azad (MAKA) Trophy 2021 – Panjab University (Chandigarh)

Jammu and Kashmir team for deaf secures the first position in the World Deaf Judo Championship 2021

• The Jammu and Kashmir (J&K) team for deaf secured the first position in the World Deaf Judo Championship 2021 held at Paris Versailles, France.
• Rakshanda Mehak from the Indian team for the deaf clinched the bronze medal by defeating the South Korean team in the semifinal.

Daily CA- November 3 One Liners

Can you score 20/20 in Today’s Current Affairs Quiz? Attempt the Current Affairs Quiz of  November 3, 2021, now from the link given below.