Daily Current Affairs 19 & 20 November for Banking/Insurance/SSC and other related exams.
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Shri Dharmendra Pradhan launches 37 PM SHRI Kendriya Vidyalayas and 26 PM SHRI Jawahar Navodaya Vidyalayas in Odisha
Union Minister for Education and Skill Development & Entrepreneurship, Shri Dharmendra Pradhan launched 37 PM SHRI Kendriya Vidyalayas and 26 PM SHRI Jawahar Navodaya Vidyalayas in Odisha.
- He also informed that about 800 government schools in Odisha will be developed into PM Shri Schools and more than Rs. 1600 crore will come. He also requested the Chief Minister of Odisha Shri Naveen Patnaik to sign an MoU to implement the PM Shri Yojana in Government Schools of Odisha through which, two writing schools in every block and urban area of Odisha will be developed into PM Shri Schools.
- Shri Pradhan stated that to achieve the goal of a developed India by 2047, the education sector of the country needs to move forward. For that, rural children should be educated in the 21st century to prepare them for the future, he commented.
Rural Retail Inflation Outpaces Urban Counterpart for 18 Out of 22 Months
As the central government continues its efforts to address economic challenges, recent data from the National Statistical Office (NSO) reveals a concerning trend in India’s inflation dynamics.
- Despite initiatives like the extended free-food programme and ongoing efforts to stimulate rural demand, rural inflation has consistently surpassed urban inflation in 18 of the past 22 months, spanning from January 2022 to October 2023.
October 2023 Snapshot:
- Rural Inflation at 5.12%: In October 2023, rural inflation stood at 5.12%, showcasing a sustained upward trend in rural price levels.
- Urban Inflation at 4.62%: In contrast, urban inflation during the same period was recorded at 4.62%, highlighting the continuing disparity in inflation rates between rural and urban regions.
BANKING & FINANCE
RBI hikes risk weights on unsecured bank, NBFC loans by 25%
In response to the unprecedented growth in unsecured retail loans and the consequent concerns regarding rising systemic risk, the Reserve Bank of India has increased the risk weights on unsecured consumer loans, including credit cards, by 25 per cent for both banks and NBFCs.
- The mandatory risk weight requirement has been increased by 25 percentage points. This would be applicable to unsecured personal loans, credit cards and lending to NBFCs.
- The directions are expected to result in higher capital requirements for lenders and thereby, an increase in lending rates for consumers. They come into force with immediate effect, with mandatory adherence being sought before February-end next year.
BUSINESS & ECONOMY
Bengaluru Tops in Women-Led Startups, Followed by Mumbai and Delhi
The Karnataka capital, Bengaluru is home to 1,783 women-led startups, followed by Mumbai and Delhi at 1,480 and 1,195 respectively, showed data from startup data platform Tracxn.
- Noida, Kolkata, and Ahmedabad took the eighth, ninth and tenth spots with 324, 184 and 181 women-led startups respectively. With more than 61,400 startups, India’s startup ecosystem has added more firepower to become the third-largest hub globally after the US and China.
- Tracxn counts Zomato, Byju’s, Ofbusiness, Upstox, Lenskart and Open among the top 10 women-led startups in the country. The funding landscape for women-led companies showed a significant surge in the number of rounds, rising from 171 in 2014 to 460 in 2022.
Accel Partners, Quona Capital to hike stake in Shivalik SFB
Global venture capital funds, Accel Partners and Quona Capital are set to increase their stake in Shivalik Small Finance Bank to 9.99 per cent each. Presently both VCs hold a 4.99 per cent stake each in the bank.
- The infusion of capital is intended to facilitate several key initiatives, including bolstering the bank’s technological infrastructure, fortifying its workforce, and fostering strategic partnerships.
India Set to Extend Rice Export Bans Through 2024, Impacting Global Prices
India, the world’s top rice exporter, is expected to maintain its curbs on overseas sales well into 2024, a move likely to hold the staple grain at close to its highest price levels since the food crisis of 2008.
- Lower prices and ample stockpiles have helped to make India one of the top shippers globally over the past decade, recently accounting for almost 40 per cent of the total. African nations like Benin and Senegal are among the top buyers.
Australia Won the ICC Cricket World Cup 2023 by 6 Wickets
Australia defeated India by 6 wickets to lift the ICC World Cup trophy at Narendra Modi Stadium at Ahmedabad, Gujarat. The victory of the Kangaroos came as a major disappointment for Indians who were praying hards for team India’s victory
- Australia reached the target in 42.5 overs with six wickets in hand. Australia faced an early setback in the ICC Cricket World Cup 2023 final when David Warner (7) fell to Mohammed Shami, and later, Jaspirt Bumrah dismissed Mitchell Marsh (15) and Steven Smith (4). At 47 for 3, the team was in a precarious position.
- However, Travis Head (137) and Marnus Labuschagne (58 not out) demonstrated remarkable poise, constructing a game-changing partnership of 196 runs. This resilient effort not only put Australia in a commanding position but also paved the way for their sixth World Cup title triumph. With this win Australia has won the World Cup title 6 times viz. 1987, 1999, 2003, 2007, 2015 and 2023.
- Australia’s Travis Head was declared the Player of the Match in his side’s 2023 ODI World Cup final win against India in Ahmedabad. The Australian opener top-scored for his side in a 241-run chase, with a 120-ball 137.
Sheynnis Palacios from Nicaragua crowned Miss Universe 2023
Nicaragua’s Sheynnis Palacios has been crowned Miss Universe for the year 2023, marking her country’s first win at the international beauty pageant.The 72nd edition of the Miss Universe pageant was held at the Jose Adolfo Pineda Arena in San Salvador, El Salvador.
- Last year’s winner, Miss Universe and Miss USA R’Bonney Gabriel, crowned Palacios. Miss Thailand Anntonia Porsild was named runner-up and Miss Australia Moraya Wilson placed third.
President Droupadi Murmu to confer President’s Colour to Armed Forces Medical College Pune
The President of India and the Supreme Commander of Armed Forces Droupadi Murmu will confer President’s Colour to Armed Forces Medical College Pune, on 1st December in its platinum jubilee year.
- AFMC is a premier Armed Forces Medical Services (AFMS) establishment and one of the leading medical colleges of the country. The award is a testament to the glorious 75 years of AFMC’s exemplary service to the nation.
- AFMC, the fountainhead of medical education in the Armed Forces Medical Services, is known the world over for its ethos and highest standards of medical training.
Virat Kohli Earns the “Player of the Tournament” Title in the Cricket World Cup 2023
The ICC World Cup 2023 witnessed a spectacular display of cricketing prowess, with Indian batting maestro Virat Kohli earning the “Player of the Tournament” title for his exceptional performance. However, despite Kohli-record breaking feats, Australia emerged victorious in the high-stakes final at the Narendra Modi Stadium, marking their sixth ODI World Cup win.
- Kohli’s stellar performance in the tournament set new records, with the total score of 765 runs in 11 innings, the highest-ever runs scored by a batter in a single edition of the World Cup. He averaged at 95.62, and ended up with a strike rate of 90.3.
- The 35-year-old cricket icon added another feather to his cap by surpassing the legendary Sachin Tendulkar’s record, achieving his 50th One-Day International (ODI) century. Tendulkar’s longstanding record of 49 ODI centuries was eclipsed by Kohli, making this World Cup edition particularly special for the prolific batsman.