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By admin: Nov. 17, 2022

Anandiben Patel inaugurates the 104th Annual Conference of the Indian Currency Council and Currency Fair in Lucknow

Tags: Festivals place in news State News

Uttar Pradesh Governor Anandiben Patel inaugurated the 104th Annual Conference of the Indian Currency Council and Currency Fair held at the State Museum in the premises of the International Buddhist Institute, Gomtinagar, Lucknow. On this occasion, the Governor said that currency is the reflection of the culture and civilization of any country. This gives information about the history and economy of the time, due to which our future generations get the knowledge of our rich culture.

The Governor said that the dates and markings found on the coins are a powerful medium of information about the history and culture of that period, because the coins reflect contemporary religion, philosophy and social life.

She announced to keep a coin album in Raj Bhavan. On this occasion, the Governor released a souvenir based on the compilation of research papers.

On this occasion, President of the 104th Conference of the Indian Currency Council Prof. Makhan Lal, General Secretary of the Currency Council Prof. P.N. Singh, Special Secretary Culture Anand Kumar, Director of State Museum Dr. Anand Kumar Singh and a large number of currency custodians from all over the country were present.

Numismatics 

The systematic accumulation and study of coins, tokens, paper money, and objects of similar form and purpose is called Numismatics. 

Government extends the term of Enforcement Directorate Director Sanjay Mishra by one year

Tags: Economy/Finance Person in news

The Appointment Committee of the Union Cabinet chaired by the Prime Minister Narendra Modi on 17 November 2022 has approved the extension of the tenure of the Director of Enforcement Directorate Sanjay Kumar Mishra by one year. 

The order issued by the Union Ministry of Personnel on 17 November 2022 said that the 1984-batch Indian Revenue Service (IRS) officer has been given the extension till November 18, 2023.

Sanjay Kumar Mishra was appointed director of the Enforcement Directorate (ED) for a period of two years by an order on November 19, 2018.

Later, by an order of November 13, 2020, the appointment letter was modified retrospectively by the Central government and his term of two years was replaced by three years.

Last year the government of India promulgated an ordinance under which the tenure of the directors of the ED and the Central Bureau of Investigation (CBI) can be extended by up to three years after the mandated term of two years.

After this ordinance Sanjay Mishra was given a further one year extension in 2021.

Enforcement Directorate 

It was set up in 1956 under the Union Finance Ministry. It enforces the criminal provisions of the Prevention of Money of Money Laundering Act (PMLA) 2022, the Fugitive Economic Offenders Act 2018 and the civil sections of the Foreign Exchange Management Act (FEMA) 1999.

Headquarters: New Delhi

President Murmu appoints DR CV Bose as the 22nd Governor of West Bengal

Tags: Person in news State News

The President of India Droupadi Murmu has appointed Dr CV Ananda Bose as the 22nd Governor of West Bengal on 17 November 2022. The post fell vacant after the previous governor Jagdeep Dhankhar was elected as the 14th Vice President of India. 

The Governor of Manipur La Ganesan Iyer was given the additional charge of West Bengal on 18 July 2022 by the President.

 About Dr CV Ananda Bose

Dr CV Ananda Bose is a retired IAS officer. He served as the Secretary to the Chief Minister of Kerala and has held the rank of secretary to the government of India, been a Vice chancellor.  He is currently the Chairman of the Habitat Alliance, in consultative status with the UN. 

A prolific writer and columnist, Dr. Bose has published 32 books in English, Malayalam and Hindi including novels, short stories, poems and essays. 

 State Governor 

Article 153 of the constitution provides for a Governor for each state. However a person can be appointed as Governor for two or more States.

Appointment of the Governor 

The President of India appoints the Governor (article 155) of a state .

Qualification to be a Governor 

• A person to be eligible for appointment as Governor should be citizen of India 
•  has completed the age of 35 years 
• He shall not be a member of the Legislature or Parliament;
•  Shall not hold any office of profit.

Term of the Governor 

The constitution also says that the term of the governor shall be of five years but the constitution also says that the Governor holds office at the pleasure of the President. It means that he /she can be dismissed from office whenever the President wants so.

The Governor is the head of the state executive and his role is similar to the President of India. The governor exercises his power on the aid and advice of the State Cabinet headed by the Chief Minister.

Chief Minister of West Bengal : Mamata Banerjee

Sharath Kamal becomes the first Indian athlete to be elected to the ITTF Athletes’ Commission

Tags: Sports Person in news

Major Dhyan Chand Khel Ratna 2022 awardee Sharath Kamal has become the first Indian player to be elected in the International Table Tennis Federation (ITTF) Athletes’ Commission. The online elections took place between  7 to 13 November 2022  

10 athletes were elected for the ITTF Athletes’ Commission for a four-year term from 2022 to 2026.

Eight athletes were elected from Asia, Africa, Europe, South America, North America, and Oceania region and two were highest-voted para-athletes. 

Amongst all elected players Sharath Kamal got the second highest votes after 2012 table tennis World Cup silver medallist Elizabeta Samara of Romania. Sharath Kamal was also recently elected as the member of the Athletes’ Commission of the Indian Olympic Association (IOA). 

International Table Tennis Federation (ITTF)

It is the governing body of Table Tennis in the world which was set up in 1926. 

It is responsible for the organization of International Table Tennis tournaments including World Cups.

Headquarters: Lausanne, Switzerland

President of ITTF: Petra Sorling

Singapore to host the first International Olympic Committee Esports Week in 2023

Tags: place in news Sports

The International Olympic Committee (IOC) has announced that its inaugural Olympic Esports Week will take place in Singapore between 22 and 25 June 2023. 

Esports (Electronic sports) is a competitive sport where Esports athletes use their physical and mental abilities to compete in certain genres of video games in a virtual, electronic environment.

The Olympic Esports Week will be organized by the IOC In partnership with the Singapore government and the Singapore National Olympic Committee (SNOC).

The Olympic Esports Week will showcase the best of virtual sports in hybrid physical and simulated sports.

Forthcoming Olympics Games 

Summer Olympics 

Paris, France in 2024

Los Angeles, United States of America in 2028

Brisbane, Australia in 2032 

Winter Olympics 

Milano and Cortina cities of Italy will jointly host in 2026

Youth Olympics 

Gangwon ,South Korea in 2024

Dakar, Senegal 2026

International Olympic Committee (IOC)

It was founded in 1894 at the first Olympic Congress held at Paris, France. The credit for the foundation of the IOC is given to Pierre de Coubertin of France.

It organises the summer, winter and youth Olympics games.

Headquarters: Lausanne, Switzerland 

President: Thomas Bach

A two day 4th Indian Chemicals Council Sustainability Conclave is being held at New Delhi

Tags: place in news Summits

A  two-day (17-18 November) 4th edition of Indian Chemicals Council Sustainability Conclave  being held at New Delhi was inaugurated by the  Secretary Department of Chemicals and Petrochemicals Arun Baroka on 17 November 2022 .

The conclave has been organised jointly by the United Nations Environment Program (UNEP) and International Council of Chemical Associations. The conference is being supported by the Union Ministry of Chemicals & Fertilizers and the Union Ministry of Environment, Forest & Climate Change.

The Theme of the 4th edition of Indian Chemicals Council (ICC) Sustainability Conclave: Boardrooms to Community-ESG, Carbon Neutrality, Operational Safety, Greener Solutions’.

The two-day event promotes sustainability in the management of the entire life cycle of chemicals. 

German bank ‘KfW’ to provide 150 million euro loan to SBI for solar projects

Tags: Economy/Finance

India’s largest commercial bank State Bank of India has signed a 150 million euro (Rs 1,240 crore) loan agreement with the German development bank KfW for funding solar projects. KfW Development Bank was set up in 1948 by the German Government.

The long-term loan, under the Indo-German solar partnership, will facilitate new and upcoming capacities in the solar sector.

In 2015, the Indian and German government signed a memorandum of understanding to foster solar energy through technical as well as financial cooperation. 

Through this agreement, Germany had expressed its willingness to provide the concessional loans to India in the range of 1 billion euros through KfW.

EURO ZONE /EURO

It refers to those 19 European countries which have abolished their national currency and adopted Euro as their common currency.

Euro as a common monetary unit was introduced on 1 January 1999.

Member countries of Eurozone: Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland, Slovenia, Cyprus, Malta, Slovakia, Estonia, Latvia, Lithuania.

Wipro the first Indian company to set up European Work Council

Tags: Economy/Finance International News

The Indian IT giant company Wipro has reached an agreement with its employee representative to set up a European Works Council (EWC). It has become the first Indian company to set up an European works councils for its workers in Europe.

The 27 member European Union has mandated the companies which have more than 1000 employees across the European Union countries to set up EWC. Wipro which is in the business of IT (Information Technology)outsourcing has more than 1000 employees in the 13 European Union member countries.

European works councils (EWCs) are standing bodies that facilitate the information and consultation of employees in Europe. It provides an opportunity to employees of the company to be informed and consulted on the transnational companies’ strategy and status.

The first meeting of the Wipro EWC will take place in the first quarter of 2024 where the EWC will elect its chairman and select committee members.

WIPRO 

It is a diversified Indian multinational company.

It was set up as Western India Vegetable Products limited company by Mohamedhusain Hasham Premji in 1945. It later changed its name to WIPRO and diversified in the business of Information Technology under Azim Premji.

It is now one of the top IT companies of India which is present in more than 100 countries of the world. 

Chairman: Rishad Premji 

Headquarters: Mumbai

Meta appoints Sandhya Devanathan as its new India head

Tags: Economy/Finance Person in news

The American multinational social media company Meta (formerly Facebook) has appointed Sandhya Devanathan as the Vice President of Meta India on 17 November 2022. She will be responsible for the Indian operations and will take the place of Ajit Mohan who quit the company to join Snap Inc.

Sandhya Devanathan is currently the head of Meta’s gaming vertical for Asia-Pacific. She will take charge as Vice President of Meta India from 1 January 2023. 

Her appointment comes two days after Meta India's director of public policy, Rajiv Aggarwal and WhatsApp India head Abhijit Bose left the company. Two weeks ago, Meta India's country head Ajit Mohan resigned. Earlier this month, Meta laid off 11,000 people worldwide, including India.

Meta, which is considered to be one of the five Big Tech companies of the United States of America, is the owner of WhatsApp and Instagram. It is also facing a decline in its earnings and is struggling as companies cut advertising budgets in the face of economic uncertainty, changes to Apple's privacy settings hurt its targeted ads, and competition from rivals such as TikTok is eating into its market share.

Founder and CEO of Meta: Mark Zuckerberg.

IFSCA signs MoU with RBI in the field of regulation, supervision of regulated entities

Tags: Economy/Finance National News

The International Financial Services Centres Authority (IFSCA) and the Reserve Bank of India (RBI) have signed a Memorandum of Understanding for collaboration in the field of regulation and supervision of regulated entities on 16 November, 2022.

Important facts

• This MoU facilitates technical cooperation and exchange of information.

• The objective of the agreement is to strengthen the security, stability and soundness of the respective financial ecosystem, thereby ensuring a conducive environment for optimal business growth and economic growth.

• RBI is the central bank and monetary authority of India while International Financial Services Centers Authority is a unified regulator responsible for the development and regulation of financial products, financial services and financial institutions in International Financial Services Centers established across the country.

About International Financial Services Centres Authority (IFSCA)

• IFSCA was established on April 27, 2020, under the International Financial Services Centres Authority Act, 2019.

• It is headquartered in GIFT City, Gandhinagar, Gujarat.

• It is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Center (IFSC) in India.

• It is currently the maiden international financial services centre in India.

• Prior to the establishment of IFSCA, trading in IFSC was regulated by the domestic financial regulators, RBI, Securities and Exchange Board of India (SEBI), Pension Fund Regulatory and Development Authority (PFRDA) and Insurance Regulatory and Development Authority of India (IRDAI).

• IFSCA Chairperson  -  Injeti Srinivas

• Governor RBI - Shaktikanta Das

Government of India to abolish National Anti-profiteering Authority

Tags: National Economy/Finance

Government of India has decided to abolish the National Anti-profiteering Authority (NAA) from1 December 2022 as its terms come to an end on 30 November 2022.  From 1 December 2022 the Goods & Services Tax (GST) anti-profiteering complaints would be dealt with by the Competition Commission of India (CCI) .

The GST Council, in its 45th meeting in September 2021, gave another 1-year extension till November 30, 2022, to NAA and also decided to shift the work to CCI after that.

National Anti-profiteering Authority (NAA)

The National Anti-profiteering Authority (NAA) was set up by the government of India on 30 November 2017 under section 171 of the Goods and Service Tax 2017.  The Goods and Service Tax was implemented in India from 1 July 2017.

Function of the NAA

The main function of the NAA is to check the unfair profiteering activities by the registered suppliers under GST law. 

It  ensures that the benefits of the reduction in GST rates on goods and services done by the GST Council and of the Input tax credit are passed on to the recipients by way of commensurate reduction in the prices by the suppliers.

Who will deal with the anti-profiteering complaint under GST?

From 1st of December 2022, the investigation on complaints of profiteering by the consumers will be done by the Directorate General of Anti-profiteering (DGAP) which will then submit a report to CCI.

Competition Commission of India is the national competition regulator in India. It was set up in March 2009.  Sangeeta Varma is the acting Chairperson of CCI. 

Centre appoints ex-CEA Arvind Virmani as full-time member of NITI Aayog

Tags: Person in news

The government has appointed senior economist and India’s former chief economic advisor Arvind Virmani as a full-time member of NITI Aayog on 16 November.

Important facts

• Virmani, the founder-chairman of the non-profit public policy organisation Foundation for Economic Growth and Welfare, has served as the 13th Chief Economic Advisor in the Ministry of Finance during the Manmohan Singh-led UPA government during 2007–09.

• P Chidambaram was the finance minister when Virmani served as the chief economic advisor in the finance ministry for two years from 2007-2009.

• He was a member of the Reserve Bank of India's Technical Advisory Committee on Monetary Policy from February 2013 to August 2016.

• In 2009, Virmani was appointed Executive Director of the International Monetary Fund, and served there until 2012.

• During his tenure at the IMF in Washington DC, he represented India (as its ambassador to the IMF), Bangladesh, Sri Lanka and Bhutan.

• Virmani, a PhD in Economics from Harvard University, USA, has also served as Principal Advisor to the Planning Commission.

• NITI Aayog, which is the government’s premier think-tank, is headed by the Prime Minister and presently has three members, V K Saraswat, Ramesh Chand and VK Paul.

Climate Change Performance Index 2023

Tags: International News

The 18th edition of the Climate Change Performance Index -2023, compiled by German watch and the Climate Action Network, was released on 15 November, 2022.

Important facts

• India has improved by two places to rank eighth among 63 countries in the Climate Change Performance Index (CCPI) 2023.

• India's two-place jump can be attributed to lower emissions and increased use of renewable energy.

• The report track climate performance of the European Union and 59 countries, which together account for over 92 per cent of the greenhouse gas (GHG) emissions in the world.

• The rankings from Germanwatch, the NewClimate Institute and the Climate Action Network are based on the efforts countries are making to halve their emissions by 2030.

• The report ranked no country for the first three places because "no country performed well enough in all index categories to receive a high overall rating.

• Denmark is placed fourth, Sweden fifth and Chile sixth in the ranking.

• India earned a high rating in the GHG Emissions and Energy Use categories, while it got a medium rating in Climate Policy and Renewable Energy sections.

• China, now the world's biggest polluter, fell 13 places to 51st in this year's ranking and received a very low rating overall because of its coal-fired power plants.

• The US rose by three ranks to the 52nd place. 

• Iran (63rd), Saudi Arabia (62nd) and Kazakhstan (61st) fared the worst.

About Climate Change Performance Index (CCPI)

• It is developed by not-for-profit organisations German watch and New Climate Institute (Germany) together with the Climate Action Network (CAN International).

• It is an important tool for increasing transparency in international climate strategy and enables comparison of climate protection efforts and progress made by individual countries.

3-day International Tourism Mart begin in Mizoram

Tags: place in news State News

The three-day International Tourism Mart (ITM) began in Mizoram on November 17, 2022.

Important facts

• It is the 10th edition of the International Tourism Mart, jointly organised by the Ministry of Tourism, GOI and the state tourism department.

• State Commerce and Industries minister Dr. R Lalthangliana inaugurated the event.

• The event will focus on "G20 Priorities for Tourism Track", as India will assume the upcoming G20 Presidency for one year starting from 1st December 2022.

• The Mart was inaugurated at R Dengthuama Indoor Stadium in Mualpui, Aizawl in the presence of Minister for Tourism, Culture and Development of North Eastern Region (DoNER) G Kishan Reddy, Union Minister of State for Tourism Ajay Bhatt and Chief Minister Zoramthanga.

• On the occasion, a mega exhibition and food court pavilion was inaugurated at the Assam Rifles Ground in Aizawl by State Commerce and Industry Minister Dr. R. Lalthangliana.

• The exhibition has hundreds of stalls set up on local food processing, cuisine, handloom and handicrafts and tourism.

• It will have business-to-business sessions and panel discussions between buyers, sellers, government agencies and other stakeholders.

About International Tourism Marts

• International Tourism Marts are organised on rotation basis in the North-Eastern States.

• Mizoram is hosting this Mart for the first time.

• The earlier editions of this mart have been held in Guwahati, Tawang, Shillong, Gangtok, Agartala, Imphal and Kohima.

• The objective of the event is to showcase the tourism potential of the North-Eastern Region in the domestic and international markets.

Month-long Kashi Tamil Sangam begins in Varanasi

Tags: place in news State News

The month-long Kashi Tamil Sangam began on 17 November 2022 in Varanasi.

Important facts

• The Sangam is being organised by the Government of India as a part of the 'Aazadi ka Amrit Mahotsav' and to uphold the spirit of 'Ek Bharat Shreshtha Bharat'.

• This Sangam will bring together people from two different regions at the level of language.

• Delegations from Tamil Nadu will visit Kashi Vishwanath Temple, Ayodhya Temple and the famous Ganga Aarti of Varanasi.

• Prime Minister Narendra Modi will formally inaugurate the event.

• It aims to bring the two knowledge and cultural traditions closer, build upon and understand our shared heritage and deepen people-to-people bonds between the regions.

• BHU and IIT-Madras are the knowledge partners for the event, and the Ministries of Culture, Tourism, Railways, Textiles and Food Processing have been included as stakeholders, apart from the Government of Uttar Pradesh and the Varanasi Administration.

• Sangamam was proposed by academician Chamu Krishna Shastri, chairman of the Indian Language Committee under the Ministry of Education.

History of ties between Kashi and Tamil Nadu

• The connection between Kashi and the Tamil region is deep and old.

• King Adhiveer Rama Pandian, after returning from a pilgrimage to Kashi, built a Shiva temple at Tenkasi in the 19th century.

• Saint Kumara Gurupara of Thoothukudi district had negotiated with the princely state of Kashi to get a place for the installation of Kedarghat and Vishveswaralingam in Varanasi.

• He also composed Kashi Kalambagam, a collection of grammar poems on Kashi.

National Epilepsy Day

Tags: Important Days

Every year, November 17 is celebrated as National Epilepsy Day.

Important facts

• Its purpose is to create awareness among the victims of epilepsy and their relatives.

• The World Health Organization (WHO) estimates that there are 50 million people with epilepsy worldwide, of whom 80 percent live in developing countries.

• Although epilepsy is treatable, three-quarters of those affected in underdeveloped countries do not receive the necessary care.

• About 10 million people in India experience seizures associated with epilepsy.

• Every year the second Monday of February is observed as International Epilepsy Day (IED). 

• In 2022, International Epilepsy Day was celebrated on 14th February.

Background of the day

• Epilepsy Foundation of India established National Epilepsy Day as a national campaign to reduce epilepsy in India.

• Dr Nirmal Surya established the Epilepsy Foundation of India in 2009 in Mumbai, Maharashtra.

• This non-profit Epilepsy Foundation aims to improve the quality of life of people and change societal perceptions regarding epilepsy.

What is Epilepsy?

• Epilepsy is the fourth most common neurological disorder in the world.

• In this disorder, brain activity becomes abnormal, causing seizures or abnormal behaviour and loss of sensation.

• Although anyone can develop epilepsy, it is more commonly seen in young children and adults, and in males than females.

• Changes in taste, smell, vision, hearing or touch, dizziness, trembling in the limbs, staring, doing the same thing over and over again are its main symptoms.

India’s basketball legend Abbas Moontasir dead

Tags: Sports Person in news

Former India basketball captain and Arjuna awardee Ghulam Abbas Muntasir passed away on November 16, 2022 in Mumbai after prolonged illness. He was 80.

Important facts

• He was born in Mumbai in 1942. He started playing in Nagpada by the American missionaries, later he started getting inclined towards basketball.

• His basketball debut came in 1960 in an exhibition game against Australia.

• He captained the national team in the 1969 and 1975 Asian Basketball Championships in Bangkok.

• He was part of the Indian team at the 1970 Asian Games, which finished sixth after topping a group that also contained China, Thailand and Malaysia.

• In the same year, Muntasir was selected in the Asian All-Star team and received the Arjuna Award, the first basketball player to receive this honour.

• He was suspended for three years due to constant bickering with referees and officials in the country.

• He was also among the country's sports icons who shot for the 1987 film 'Freedom Run' to promote national integration.

For the first time, six women officers clear Defence Services Staff College examination

Tags: National Defence National News

For the first time in the history of the Indian Army six women officers have cleared the Defence Services Staff College (DSSC) examination.

Important facts

• Of the 15 women officers who appeared in this year's DSSC exam, six cleared it.

• Every year, 1,500-1,600 officers appear for this prestigious exam but only around 300 get selected.

• Six women officers will join the prestigious War College in Wellington, a move that comes after the Army granted permanent commission to women officers last year.

• They will start their academic session from April 2023.

• The DSSC course is run for Major and Lt Col equivalent ranks of the three Services.

• After the completion of the DSSC course, officers will be eligible for important staff appointments to higher ranks of the Indian Army as well as for foreign postings.

About Defence Services Staff College (DSSC)

• It is one of the oldest military institutions in India. It was set up in India in 1905 as the Army Staff College at Deolali and was relocated to Quetta, now in Pak, in 1907. 

• It was shifted to Wellington in 1947 after the partition of the subcontinent.

• Many army officers have done the DSSC course, including former Chief of Defense Staff General Bipin Rawat.

Uttar Pradesh becomes the second state after Maharashtra to register maximum number of new companies post covid-19

Tags: Economy/Finance State News

Uttar Pradesh has become the second state after Maharashtra to register the most number of companies since the outbreak of covid -19. Quoting the Ministry of Corporate Affairs (MCA) data, the Economic Times report says that Uttar Pradesh has left behind  the traditional industrial hub states of Karnataka and Tamil Nadu in adding the number of new companies since the outbreak of covid -19 . 

Main Highlights of the report 

Uttar Pradesh is the third ranked state in terms of number of active companies behind Maharashtra and Delhi. 

Uttar Pradesh is home to 1.08 lakh active companies as of September end while Maharashtra and Delhi have 3 lakh and 2.2 lakh active companies respectively.

Karnataka and Tamil Nadu are at fourth and fifth with 1.04 lakh and 99,038 active companies respectively.

Uttar Pradesh added 30,000 companies in the past three years.

Maharashtra on the other hand added 60,000 new companies in the past three years and continues to be on the top. 

Maharashtra's dominance comes largely from the fact that its capital, Mumbai is the financial capital of India and serves as a hub for several mid-size and big companies.