National & International Appointments
1. GroupM South Asia CEO, Prasanth Kumar elected president of AAAI
- Prasanth Kumar (CEO, South Asia of GroupM Media (India) Pvt Ltd) has been elected as the President of the Advertising Agencies Association of India (AAAI) for 2022-23.
- While, Rana Barua (Group CEO of Havas Group India) has been elected as the Vice-President of the Association.
- Immediate Past President, Anupriya Acharya has been appointed as the ex-officio member of the AAAI Board for 2022-23.
- AAAI is a national advertising agencies, which was formed in 1945.
National Affairs
2. Niti Aayog launches CCUS policy framework
- Niti Aayog has launched the report title, 'carbon capture utilisation and storage (CCUS) policy framework and its Deployment Mechanism in India'.
- The report explores the importance of CCUS as an emission reduction strategy, to achieve the deep decarbonization from the hard-to-abate sectors.
- The report was launched by Vice Chairman of Niti Aayog, Suman Bery.
- The report was prepared on the inputs provided by the various stakeholders from the Energy and Power Sector.
Agreement
3. Vistara airlines to be merged with Air India by March 2024
- Vistara airlines (Singapore Airlines) has agreed to merge with Tata-owned Air India by March 2024, subject to regulatory approvals.
- Singapore Airlines will invest 250 million Dollars (Rs 2,000 crore) into Air India, as soon as this integration is completed.
- After the merger, Singapore Airlines shall hold 25.1 per cent shareholding in Air India.
- Vistara is a 51:49 joint venture between Tata Sons and Singapore Airlines Limited.
Obituaries
4. Toyota Kirloskar Motor, Vice Chairman Vikram Kirloskar passes away
- The vice chairman of Toyota Kirloskar Motor Pvt Ltd, Vikram S Kirloskar has bee passed away at the age of 64.
- He became the vice chairman of Toyota Kirloskar in 1998.
- He has also served as president of the Society of Indian Automobile Manufacturers from 2013-15.
- He also served as the President of the Confederation of Indian Industry (CII) for 2019-20.
- He was also awarded the Indian Institute of Metals (IIM) JRD Tata Award 2020.
Banking & Finance
5. RBI to launch of first pilot for retail digital Rupee on 1st December
- The RBI will launch the first pilot for the retail digital Rupee on 1st December 2022.
- Presently, eight banks have been identified for phase-wise participation.
- First phase: SBI, ICICI, Yes Bank and IDFC First
- Subsequent phase: BoB, Union Bank of India, HDFC and Kotak Mahindra.
- This pilot project would initially cover Mumbai, New Delhi, Bengaluru and Bhubaneswar.
- Later, it is extended to Ahmedabad, Gangtok, Guwahati, Hyderabad, Indore, Kochi, Lucknow, Patna and Shimla.
International Affairs
6. Australia's Great Barrier Reef be put on in danger list: UN panel
- A UN panel has suggested that Australia's Great Barrier Reef should be listed as a world heritage site that is in danger.
- Reason: It was significantly impacted by climate change and warming of oceans.
- Frequent bleaching events are threatening the reef, which include the first during La Nina phenomenon, which typically brings cooler temperatures.
- Bleaching: When the water warms too much, causing corals to expel the colourful algae living in their tissues and turn white.
State Affairs
7. Meghalaya cabinet approves mental health and social care policy
- The Meghalaya has become the first state in the Northeast to pass first-ever Mental Health and Social Care Policy.
- After Kerala and Karnataka, Meghalaya becomes the third state in India to have such a policy.
- Aim: To promote overall mental health and well-being and facilitate appropriate access and care pathways.
- This policy will ensure that proper attention is given to mental health, particularly for our youth and adolescents.
Banking & Finance
8. RBI imposed Rs 1.25 crore penalty on Zoroastrian Co-operative Bank
- The Reserve Bank of India (RBI) has imposed a penalty of Rs 1.25 crore on Zoroastrian Co-operative Bank, Mumbai.
- Reason: For non-compliance with certain directions, including one related to discounting of bills.
- The RBI has imposed penalty of Rs 20 lakh on Indian Mercantile Co-operative Bank, Lucknow for non-compliance with the certain norms related classification of non-performing assets.
- The central bank also imposed penalties on five other cooperative banks.
Banking & Finance
9. Sebi forms a panel to review corporate takeover rules
- SEBI has set up a high-level panel to review the takeover norms in a move to simplify and strengthen the current rules by adopting appropriate global practices.
- The SEBI regulator will also assess the current rules in the light of past judicial pronouncements and various informal guidelines issued by the capital markets regulator.
- The 20-member committee will be chaired by former Chief Justice of Punjab and Haryana High Court, Shiavax Jal Vazifdar.
Banking & Finance
10. Star Health launches policy for outpatient expenses
- Star Health and Allied Insurance has launched Star Out Patient Care Insurance Policy, which aims at providing complete health and wellness benefits to customers at an affordable cost.
- The claims processing procedure will be entirely digital.
- The policy is available on individual or floater basis and cover up to six family members
- Age: 18 - 50 years (adults) and 31 days to 25 years (dependent children)
- Four sum insured (SI) options: ₹25,000, ₹50,000, ₹75,000 and ₹1 lakh
State Affairs
11. Karnataka developing app-based networking platform for IPRs
- Karnataka State Council for Science and Technology (KSCST) is developing an app-based networking platform called "Patentkart".
- Aim: For commercialisation of Intellectual Property Rights
- It will benefit patent holders and their clients in commercialising their IP.
- In the past three years, more than 700 patents have been filed by KSCST-assisted IP cells.
- Patent Facilitation Centre has supported setting up of a Patent Information Centre at KSCST, IISc.
International Affairs
12. 'Gaslighting' is Merriam-Webster's word of the year 2022
- The Merriam-Webster (US dictionary publisher) has announced "gaslighting", as 2022 word of the year.
- Merriam-Webster has defined Gaslighting, "The act or practice of grossly misleading someone especially for one's own advantage".
- Interest in the term was up by 1,740% over the previous years according to searches of the online dictionary.
- Other popular words 2022: Oligarch, Omicron, Codify, Queen Consort, Raid
Science & Technology
13. NASA's Artemis 1 Orion capsule sets new flight record
- NASA's Artemis 1 Orion capsule has set a new space flight record for spacecraft designed to carry humans by travelling 401,798 km from Earth.
- The previous record was held by Apollo 13 on April 14, 1970 by travelling 400,171 km.
- Apollo 13 was not designed to travel that far and the spacecraft was only made to complete a moon landing.
- Since the Orion was not staffed, the Apollo 13 crew still holds the record for the farthest distance from Earth reached by humans.
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