Daily Current Affairs 25th November, 2023

Daily Current Affairs 25 November for Banking/Insurance/SSC and other related exams.

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NATIONAL NEWS

India and Nepal Convene for the 17th Edition of Joint Military Exercise SURYA KIRAN
The Nepal Army contingent comprising of 334 personnel arrived in India to participate in 17th edition of Joint Military Exercise SURYA KIRAN. The exercise will be conducted in Pithoragarh, Uttarakhand from 24th November to 07th December 2023. It is an annual event and conducted alternatively in the two countries.

  • The Indian Army contingent comprising of 354 personnel is being led by a Battalion from the KUMAON Regiment. The Nepal Army contingent is represented by Tara Dal Battalion.


INTERNATIONAL NEWS

World’s Biggest Iceberg On The Move After 30 Years
The world’s largest iceberg, named A23a, has embarked on a rare journey after being largely stationary for more than three decades. Weighing nearly a trillion metric tonnes and spanning an area of 4,000 square km, this colossal iceberg originated from West Antarctica’s Filchner-Ronne Ice Shelf in 1986.

  • Once home to a Soviet research station, A23a has been a static fixture in the Weddell Sea, but recent satellite images indicate a dramatic change in its status.
  • For the first time in more than 30 years, A23a is on the move. Strong winds and ocean currents are propelling it past the northern tip of the Antarctic Peninsula.

India to Chair International Sugar Organisation
India is set to take the helm as the chairman of the International Sugar Organisation (ISO) in 2024, marking a significant milestone for the country. As the world’s largest consumer and second-largest producer of sugar, this leadership role reflects India’s growing influence in the global sugar sector. The announcement came during the 63rd council meeting of the ISO, headquartered in London.

  • The chairmanship for 2024 brings a unique opportunity for India to lead the global sugar sector towards more sustainable practices. The focus will be on uniting member countries to adopt environmentally friendly approaches in sugarcane cultivation, sugar and ethanol production, and the efficient utilization of by-products.


BANKING & FINANCE

RBI includes PM Vishwakarma under PIDF scheme; extends tenure of scheme by another two years
Reserve Bank Governor Shaktikanta Das said it has been decided to include PM Vishwakarma under the Payments Infrastructure Development Fund (PIDF) Scheme as well as extend the tenure of the scheme by another two years.This initiative aims to stimulate the deployment of payment acceptance infrastructure in various regions.

  • It is now proposed to extend the PIDF Scheme by a further period of two years, that is up to December 31, 2025, the governor said while announcing bi-monthly monetary policy.

Mastercard and U GRO Capital Collaborate for MSME Financing
Mastercard, a prominent global technology company in the payments industry, has forged a strategic partnership with U GRO Capital, a Non-Banking Financial Company (NBFC) specializing in Micro, Small, and Medium Enterprises (MSME) financing.

  • This collaboration aims to provide financial solutions to small businesses in India, addressing the longstanding challenge of limited access to capital faced by MSMEs


BUSINESS & ECONOMY

Indian Rupee Hits Record Low at 83.38 Against US Dollar
The Indian rupee closed at a new low of 83.38 against the US dollar, marking a slight decline from the previous close of 83.34. This drop was attributed to increased dollar demand from oil companies and intervention by the Reserve Bank of India (RBI) to mitigate a steeper fall.

  • Trading at the interbank foreign exchange market began at 83.25 for the rupee against the dollar, but the currency struggled throughout the day, culminating in a closing rate of 83.38, marking a 12-paise drop from its previous close.
  • Market experts noted that the rupee’s tumble to an unprecedented low against the dollar is a reflection of the ongoing strain in the financial markets, driven by factors such as global economic uncertainties and persistent foreign fund outflows from Indian markets.

Blue Dart introduces automated digital parcel lockers with India Post
Blue Dart Express Limited, the express air integrated transportation and distribution logistics company, has introduced digital parcel lockers at selected post offices in partnership with India Post.

  • These new lockers will provide customers with an alternative delivery method that does away with the need for personal receipts or signing upon package delivery.

OneWeb India Becomes First Firm To Get IN-SPACe Approval For Satellite Broadband
OneWeb India, a subsidiary of the Bharti Group and part of the Eutelsat Group, has recently obtained approval from India’s space regulator, IN-SPACe, to initiate Eutelsat OneWeb’s commercial satellite broadband services in the country.

  • This significant milestone positions OneWeb India as the first organization to receive such authorization, making it the sole satellite broadband services provider to secure all necessary regulatory approvals ahead of its commercial launch.

ADB’s $170 Million Boost Transforms Kochi’s Water Landscape
The Asian Development Bank (ADB) has approved a substantial $170 million loan to catalyze the modernization of water supply services in Kochi, a rapidly growing city in the southern Indian state of Kerala.

  • This transformative initiative aims to enhance urban living standards, ensure clean water access, and fortify climate resilience.


AWARDS

Four Indian Women Shine in BBC 100 Women 2023 List
The British Broadcasting Corporation (BBC) recently unveiled its 11th edition of the BBC 100 Women list for 2023, featuring inspiring and influential women from various fields around the world.

  • This prestigious list is categorized into Culture and Education, Entertainment and Sport, Politics and Advocacy, and Science, Health, and Tech. BBC 100 Women 2023 which includes four Indian women viz. Actress Dia Mirza, Cricketer Harmanpreet Kaur, Photographer Arati Kumar­Rao, and Tibetan Buddhist nun Jetsunma Tenzin Palmo.
  • The inclusion of a ‘Climate Pioneers’ category underscores the importance of women leading the charge against the climate crisis, with Arati Kumar-Rao representing India on this front.


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