National & International Appointments
1. Amit S Telang appointed as Indian envoy to the Caribbean Community
- The Ministry of External Affairs has announced that Amit S Telang has been concurrently accredited as the Indian Ambassador to the Caribbean Community and High Commissioner to the Federation of St Kitts and Nevis and Antigua and Barbuda.
- Joint Secretary in the Ministry of External Affairs, Anil Kumar Rai has been appointed as the next Ambassador of India to the Federal Democratic Republic of Ethiopia.
Banking & Finance
2. RBI Imposes ₹90.92 Lakh Monetary Penalty On Axis Bank
- The Reserve Bank of India has imposed a monetary penalty of ₹90.92 lakh on private lender Axis Bank and ₹42.78 lakh on gold loan firm Manappuram Finance for violation of certain regulatory norms.
- The central bank has also imposed a monetary penalty of ₹20 lakh on Anand Rathi Global Finance for non-compliance with certain provisions of the RBI (KYC) Directions, 2016.
- The fine has been imposed on Axis Bank “for non-compliance with certain directions issued by RBI
Banking & Finance
3. RBI tightens norms for unsecured personal loans for banks and NBFCs
- The RBI increased the risk weighting for such loans from 100 percent to 125 percent.
- The risk weighting for bank loans to higher-rated NBFCs too has been increased by 25 percentage points.
- The new norms, which take immediate effect, are applicable for new as well as outstanding loans.
- As the increase in risk weighting will mean banks have to set aside more capital while extending such loans, the lenders in turn could increase the lending rates on such products.
Banking & Finance
4. Federal Bank introduces UPI lite for small-value digital payments
- Federal Bank has launched UPI Lite to power small-value digital transactions in India.
- NPCI introduced UPI Lite a simplified version of the Unified Payments Interface system to cater to the growing demand for faster and more efficient small-value payments.
- Benefits include a reduction in transaction time, a ready-to-access bank statement, a higher payment success rate, and enhanced security.
- It can be created within the existing UPI app without downloading a new app.
Banking & Finance
5. RBI Directs Bajaj Finance to Halt Loans for ‘eCOM’ and ‘Insta EMI’ Products
- Bajaj Finance, a leading non-banking finance company (NBFC), faced a setback as the Reserve Bank of India (RBI) imposed restrictions on its lending activities under two key products.
- Following the RBI directive, Bajaj Finance shares declined by 3.97% to ₹6,937.15 in early trade on the Bombay Stock Exchange (BSE).
- The central bank specifically instructed the NBFC to cease the sanction and disbursal of loans under its 'eCOM' and 'Insta EMI Card' products.
Important Dates
6. World Chronic Obstructive Pulmonary Disease Day or World COPD Day
- World COPD Day had been observed every year on the third Wednesday of November.
- The World COPD Day 2023 theme is “Breathing is Life - Act Earlier”.
- It is a global healthcare event to raise awareness of Chronic Obstructive Pulmonary Disease (COPD), amongst the public around the world.
- Activities have been held in over 50 countries by various organisations, making this day one of the world's most important COPD awareness and education events.
Important Dates
7. National Epilepsy Day is observed every year on 17th November 2023
- National Epilepsy Day is celebrated every year in India on November 17 to raise awareness around the brain disorder and bust myths surrounding the disease.
- This year 2023, International Epilepsy Day 2023 theme is "Stigma
- An epileptic seizure can come all of a sudden and can be highly distressing for the person experiencing it as they aren't in control of the movements, sounds they are making or the sensations they are feeling.
Defense
8. INDIA - SRI LANKA JOINT EXERCISE MITRA SHAKTI – 2023 COMMENCED
- The ninth edition of India and srilanka Joint Military exercise “Exercise MITRA SHAKTI-2023” held in Pune conducted from 16th to 29th November 2023.
- Aim: To jointly rehearse conduct of Sub Conventional operations under Chapter VII of United Nations Charter.
- The Scope of the exercise includes synergising joint responses during counter-terrorist operations
- The exercise will also foster strong bilateral relations between the two neighbouring nations
National & International Organizations
9. IndusInd Bank, Suzlon Energy among nine firms added to MSCI India Index
- As many as nine firms, including IndusInd Bank, Suzlon Energy and One 97 Communications, were added to the MSCI India Index.
- There are nine additions to the MSCI India index are:
APL Apollo Tubes
IndusInd Bank
Macrotech Developers
97 Communications
Persistent Systems
Polycab India
Suzlon Energy
Tata Communications
Tata Motors
- MSCI Global Standard Index is widely used by global fund houses for benchmarking global equities portfolios.
National Affairs
10. JSW Bags Award to Develop Greenfield Port in Karnataka For Rs 4,119 Crore
- JSW Infrastructure has received a letter of award to develop an all-weather, deep-water, greenfield port at Keni Port in Karnataka on a public private partnership basis for Rs 4,119 crore.
- Keni Port would have modern environment-friendly mechanised facilities for handling cape-size vessels
- Keni Port is envisaged for handling all types of cargoes on the west coast to serve the industries in the area covering Bellary, Hosapete, Hubballi, and South Maharashtra
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