Daily Current Affairs 23rd November, 2022

Daily Current Affairs 23 November 2022 for Banking/Insurance/SSC and other related exams.

NOTE: To read complete Current Affairs, subscribe to our plan. All important news are not covered here.

NATIONAL NEWS

Union Minister Anurag Singh Thakur inaugurates launches ’53 Hours Challenge’ for ‘75 Creative Minds’
The Indian Panorama at the International Film Festival of India in Goa opened. The segment started with the screening of the Kannada Feature Film “Hadinelentu” directed by Prithvi Konanur.

• Union Information and Broadcasting Minister Anurag Singh Thakur attended the opening ceremony of Indian Panorama. 25 feature films and 20 non-feature films are being showcased in this section.
• Indian Panorama films represent different languages, regions, and cultures of our diverse country. Kannada, Telugu, Malayalam, Marathi, Hindi, Odia, Manipuri, Maithili, and English films have been selected this year in this segment.

Anamalai Tiger Reserve in Coimbatore launches ‘jumbo trails’
The Anamalai Tiger Reserve (ATR) has launched ‘jumbo trails’, a programme aimed to educate visitors to the tiger reserve about elephants, the flora, and fauna of ATR and the aboriginal tribes who live in the hills.

• The participants will be taken to Top Slip in a Forest Department vehicle from where they will be taken for a nature trail to Ambili watch tower that offers a panoramic view of Pollachi.
• During the nature trail through the forest, resource persons will explain to them about the flora and fauna seen around. Upon reaching the watchtower, residents from the tribal settlement will give them herbal tea.

BANKING & FINANCE

Axis Bank launches 7th edition of knowledge summit ‘Evolve’ for MSMEs
Axis Bank has launched the seventh edition of ‘Evolve’ for MSMEs with the theme of ‘Indian SMEs: Shifting Gears for Next Level Growth’. ‘Digitalisation to Building Indian SMEs’ and ‘Export Opportunities for SMEs in the New World Order’ were some of the other key themes at the launch.

• The 7th edition of Evolve will delve into how technology and digitalization can help achieve exponential growth from exports, which is a major area of focus for increasing profitability and market presence for MSMEs.

HDFC Bank, Canara Bank get RBI nod for rupee trade with Russia
The Reserve Bank of India (RBI) has allowed leading private sector lender HDFC Bank Ltd and state-run Canara Bank Ltd to open a special “vostro account” for trade in rupees with Russia.

• Vostro accounts are accounts a bank holds on behalf of another, often foreign bank, and this forms a key part of correspondent banking.
• As many as five Indian banks have received regulatory clearance for rupee trade till now. These includes UCO Bank, Union Bank and IndusInd Bank are the other three. This apart, two Russian banks have the central bank’s approval – Sber Bank and VTB. Both have branch presence in India.

BUSINESS & ECONOMY

CRISIL revises India’s GDP forecast for FY23 down from 7.3% to 7%
Rating agencies Crisil and Icra revised down their India growth projections for the current fiscal and the second quarter mainly due to the ripple effect of slowdown in global growth and mixed crop output.

• Crisil downgraded the India growth forecast by 30 bps to 7 per cent while Icra pegged the economic expansion at 6.5 per cent for the second quarter of FY2022-23.
• It also revised down our forecast for real gross domestic product growth to 7 per cent for fiscal 2023 from 7.3 per cent, primarily because of the slowdown in global growth that has started to impact our exports and industrial activity.

OECD slashes India GDP growth forecast to 6.6% in FY23
The Organisation for Economic Co-operation and Development (OECD),, cut its gross domestic growth forecast for India for the current financial year (FY23) to 6.6 per cent from 6.9 per cent, citing higher medium-term global uncertainty and slowing domestic economic activity.

• OECD is the latest of a host of banks, agencies and multilateral institutions which have recently cut their India GDP forecast for FY23.
• OECD said that tighter financial market conditions were weighing on the demand for capital goods, while the monthly energy and food import bill kept rising and the current account deficit widened in the July-September quarter to 2.9 per cent of GDP.

Russia becomes India’s top fertilizer supplier
Russia has become India’s biggest fertilizer supplier for the first time, Reuters reported, citing a government official who said Russian exporters offered “reasonable prices.”

• Russian exporters reportedly grabbed a 21% share of the Indian fertilizer market in the first half of the 2022/23 fiscal year, overtaking China, previously India’s largest supplier.
• Russian exports reportedly surged 371%, to a record 2.15 million tons from April to October. In monetary terms, India’s imports over this period increased by 765%, to $1.6 billion.

SPORTS

Sebastian Vettel announces his retirement from Formula One
Four-time Formula One champion, Sebastian Vettel who is currently a part of Aston Martin announced his retirement.

• The 35-year-old German driver declared that he will retire at the end of the season. He is one of the most successful drivers in the F1 race is currently third on the list of all-time Grand Prix winners with 53 victories, trailing only Lewis Hamilton and Michael Schumacher.

Novak Djokovic wins record-tying sixth ATP Finals crown
Novak Djokovic firmly established his dominance over the rest of the men’s singles field by cruising to a record-equalling 6th ATP Finals crown in Turin, Italy.

• Djokovic defeated World No. 3 Casper Ruud 7-5, 6-3 in less than 2 hours in the final of the season-ending tournament.
• It was a statement victory for Djokovic, who won his 5th title on the tour in 2022, which also includes the Wimbledon crown. Cheered on by his wife Jelena and his team, Djokovic was pumped up as he ended a difficult season on a high, sending a warning notice to his challengers ahead of the new season wherein he would be heading to the Australian Open.

APPOINTMENTS

Prof. Venu Gopal Achanta elected as a Member of International Committee for Weight and Measures (CIPM) 
Prof. Venu Gopal Achanta, Director, CSIR-National Physical Laboratory (CSIR-NPL), New Delhi, has been elected as a member of the International Committee for Weights and Measures (CIPM). The 27th General Conference on Weights and Measures (CGPM) meeting was held at Paris, France.

• Prof. Achanta is among the 18 members elected from different countries and he is the 7th Indian to be elected to the CIPM.  The first Indian to be elected as a member of CIPM was Dr. K.S. Krishnan, the founder Director of CSIR-NPL. The last Indian to be elected was Prof. E. S. R. Gopal, the then Director, and CSIR-NPL (1991-1997).
• At present, 64 countries are members of CGPM and it meets every 4 years at the International Bureau of Weight and Measure (BIPM), France.

Click here to read Daily Current Affairs