Daily GK Update: 8th November 2023

 Sports

1. Max Verstappen wins Brazilian Grand Prix 2023

• Three-time champion Max Verstappen led from the start and won the Brazilian Grand Prix 2023. 
• Sergio Perez of Red Bull finished in fourth place, distancing himself from Mercedes' Lewis Hamilton in one of the few competitions left this season -- a position for runner-up.
• Perez nearly took the podium position from third-place Fernando Alonso of Aston Martin, but the Spaniard saw the checkered flag 0.053 seconds before the Mexican.

 Banking & Finance

2. RBI Announces Phased Discontinuation of Incremental Cash Reserve Ratio

• The RBI announced that it will discontinue the incremental cash reserve ratio (I-CRR) in a phased manner.
• Based on an assessment of current and evolving liquidity conditions, it has been decided that the amounts impounded under the I-CRR would be released in stages so that system liquidity is not subjected to sudden shocks and money markets function in an orderly manner
• RBI will release 25% of the I-CRR maintained on September 9 and another 25% on September 23.

 Banking & Finance

3. HSBC India Launches E-Bank Guarantees to Modernize Trade Finance

• HSBC India, has introduced Electronic Bank Guarantee (E-BG) services to facilitate digitization of trade finance.
• Aim: To simplify and expedite the guarantee issuance process by introducing electronic stamping and electronic signing , effectively eliminating the need for paper documentation.
• HSBC is the first foreign bank in the country to offer this facility which is made possible through a collaboration with National E-Governance Services Ltd.

 Banking & Finance

4. RBI Imposes Monetary Penalty On Four Co-operative Banks And One NBFC

• The RBI has imposed monetary penalties on four co-operative banks and a non-banking financial company for deficiencies in regulatory compliance
• The banks are Shree Lodra Nagarik Sahakari Bank, Malpur Nagarik Sahakari Bank, Jolarpet Co-operative Urban Bank, Limbasi Urban Co-operative Bank 
• The RBI imposed a monetary penalty of ₹4.00 lakh on Shree Lodra Nagarik Sahakari Bank Limited for non-compliance with the directions issued by RBI on ‘Loans and advances to directors.

 Important Dates

5. World Radiography Day is observed on 8th November

• World Radiography Day is observed each year on November 8 to commemorate the discovery of x-radiation by Wilhelm Conrad Roentgen in 1895.
• The theme chosen for World Radiography Day 2023 is “Celebrating Patient Safety.
• Aim: To honoring the field of radiography, acknowledge the crucial contributions of radiographers, and emphasize the importance of medical imaging in contemporary healthcare.

 National & International Organizations

6. Adani Green crosses 8.4 GW mark, becomes India's largest RE company

• Adani Green Energy Ltd (AGEL) has become India's largest green energy company as it reached the 8.4 gigawatt (GW) installed capacity mark.
• Company executives told this paper that AGEL commissioned a 0.15 GW solar power park in Rajasthan, which helped it surpass the 5 GW capacity for solar and 8.4 GW overall.
• Among its peers, ReNew is closest with 8.3 GW, followed by Tata Power and Greenko Energies with close to 4 GW capacity each.

 National & International Organizations

7. India ranks 2nd in employee well-being, Japan lowest

• A recent global survey has ranked Turkey at the top and India at second spot while keeping Japan at lowest for employees.
• The survey was conducted by McKinsey Health Institute, and it assessed employees’ physical, mental, social and spiritual health before arriving at the conclusions. 
• Turkey scored highest at 78%, followed by India at 76% and China at 75 %, way higher than the global average of 57 per cent.
• Japan scored a mere 25 per cent in the poll.

 National Affairs

8. Mundra Becomes India’s First Port To Handle 16.1 Million Tonnes Of Cargo

• Mundra Port, the flagship of APSEZ, has set another record by handling 16.1 MMT of cargo in October, the highest-ever volume by any port in India. 
• It is the largest port in the country with 102 MMT of cargo handled on year to date (YTD) basis, a good 9% Y-o-Y growth. 
• The port crossed the 100 MMT mark in 210 days, surpassing the record of 231 days last year.
• Mundra witnessed double-digit growth on a Y-o-Y basis for containers (+10%) and liquids and gas (+14%).

 National & International Organizations

9. IIT Madras Sets Its First International Campus On ZanzibarIsland InTanzania

• The Indian Institute of Technology Madras became the first Indian Institute of Technology to set up an international campus, by launching a campus in Tanzania.
•  India and the East African nation had recently signed a memorandum of understanding (MoU).
• Aim: To take the top-quality education system of India to international arenas.
• The Zanzibar Campus, IIT Madras, will be on Zanzibar Island, off the East African mainland and part of the Tanzanian republic.

 Sports

10. Deepika Kumari Secured Two Gold And One Silver at National Games 2023

• Former World No. 1 archer Deepika Kumari was the standout performer, securing two gold medals and a silver at National game 2023.
• Meanwhile, Olympian Aishwary Pratap Singh Tomar won gold in the mens 50m Rifle 3-position shooting event in Manderem.
•  In the recurve category, Maharashtra, currently leading the table, along with third-placed Haryana and Assam, claimed additional gold medals to conclude the archery events.