Current Affairs Today 12th November 2024 Daily GK Update

Daily Current Affairs 12th November 2024 Daily GK Update

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 National News

Hindalco ranked world’s most sustainable aluminium company

• Hindalco Industries Limited, the metals flagship of the Aditya Birla Group, has been ranked the world’s most sustainable aluminium company for the fifth consecutive year.
• In the 2024 edition of the S&P Global Corporate Sustainability Assessment (CSA) rankings, Hindalco was the only aluminium company to secure the top position. It got a total score of 87 points (as of 30 October 2024), improving its tally by 9 points from 2023. It was 22 points ahead of its closest peer.
• The DJSI World Index comprises the top 10 per cent of the largest 2,500 companies by market capitalisation in the S&P Global Broad Market Index based on long-term economic and ESG factors.
• MD of Hindalco Industries Ltd – Satish Pai

India signs agreement to establish BIMSTEC Energy Centre in Bengaluru

• s Jaideep Mazumder and BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) Secretary General Indramani Pandey signed an agreement to establish the BIMSTEC Energy Centre in Karnataka’s Bengaluru.
• The agreement aims to strengthen inter-grid connectivity across the region.
• The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a regional organization that was established on June 6, 1997 with the signing of the Bangkok Declaration.

About Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC)

• Founded – 6 June 1997
• Headquarters – Dhaka, Bangladesh
• Membership – 7 (Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka & Thailand)
• Secretary General – Indra Mani Pandey (India) (replace Tenzin Lekphell, Bhutan)

IGNCA host the 8th International Ancient Arts Festival and Symposium

• The 8th International Ancient Arts Festival and Symposium was held in New Delhi at the Indira Gandhi National Centers for Arts (IGNCA).
• The International Ancient Arts Festival and Symposium is country’s only multi-arts event of its kind, which tries to educate the people in the ancient Indian art form along with entertaining them with performances.
• At the inaugural session of the 8th International Ancient Arts Festival and Symposium Dr. Reela Hota and her troupe presented ‘Antar Yatra’. This dance drama incorporates Odissi, Chhau, and contemporary ballet to symbolise the ascension of consciousness from the base (Mooladhara) to the crown (Sahasrara) chakra.
• On the festival’s final day, a Kuchipudi dance performance was given by renowned Kuchipudi exponent Yamini Reddy and her group.
• The 8th International Ancient Arts Festival and Symposium was organised by the Indira Gandhi National Centers for Arts (IGNCA) in collaboration with the Rays of Wisdom Society. It is also being supported by the Union Ministry of Culture.

Banking and Financial

RBI, SEBI unveil rules for converting excess investment by FPIs into FDI

• Financial regulators, the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI), issued new guidelines directing foreign portfolio investors (FPIs) to secure government approval and concurrence from investee companies if they acquire equity stakes that exceed prescribed limits.
• The regulators introduced an operational framework for reclassification of FPI investments to foreign direct investments (FDI) should holdings surpass the stipulated thresholds. This framework outlines steps to follow if such a breach occurs.
• Under the Foreign Exchange Management Act (FEMA), FPIs are allowed to hold up to 10 per cent of a company’s total paid-up equity capital. Any FPI breaching this limit now has the option to divest holdings or reclassify such holdings as FDI, subject to several conditions. The new rules provide a window of five days from the settlement of trades to do the same.
• Once reclassified, the entire investment of an FPI will be deemed FDI and remain so, even if holdings fall below 10 per cent at a later date, according to the framework.
• RBI and SEBI have separately shared the process to be followed for reporting such breaches and reclassification by the FPIs and custodians.
• After ensuring that the reporting for reclassification is complete in all aspects, the custodian shall unfreeze the equity instruments and process the request. The date of the investment causing the breach in such cases shall be considered the date of reclassification, as per the circular.

Shriram Mutual Fund launches industry-first multi-sector rotation fund

• Shriram Mutual Fund (MF) has launched an industry-first multi-sector rotation fund, which will take concentrated sectoral bets through a quantamental approach. The scheme will invest in 3-6 sectors that are likely to outperform in the near-to-long term
• The fund will move in and out of sectors based on their relative momentum and other factors. The sectors will be selected based on Shriram AMC’s proprietary Enhanced Quantamental Investment (EQI) framework. These sectors will then be vetted based on fundamentals, including macroeconomic parameters, investment indicators, sentiment, prices, etc., before final sector selection.
• The fund will be market-cap agnostic, with the share of largecap, midcap, and smallcap stocks in the portfolio depending on the size of companies operational in the selected sectors.

Recent Facilities Launched in Banking & Insurance Secto

• IDFC FIRST Bank launches real-time tracking for international money in partnership with Swift
• Indian Overseas Bank Unveils Online Re-KYC Service for Hassle-Free Updates
• Punjab & Sind Bank (PSB) launched e-Bank Guarantee (e-BG) facility in partnership with National e-Governance Services Ltd (NeSL).
• Jio Financial Services launches SmartGold for digital gold purchase.

Appointment

Liberal Democratic Party’s Shigeru Ishiba re-elected as Japan’s PM

• In Japan, the Leader of the Liberal Democratic Party (LDP) Shigeru Ishiba was re-elected as the country’s Prime Minister after securing the most votes in both houses of the Japanese Diet.
• The Japanese Parliament, known as the Diet, convened an extraordinary session to elect the Prime Minister.
• Following the loss of its long-held majority in last month’s general election, the ruling coalition of the LDP and Komeito faced a runoff vote between Prime Minister Ishiba and the leader of the major opposition Constitutional Democratic Party, Yoshihiko Noda.
• In the runoff voting in the House of Representatives, 67-year-old Ishiba received 221 votes, outperforming Noda to become the country’s 103rd Prime Minister despite falling short of the 233 majority threshold.

About Japan

• Capital – Tokyo
• Currency – Yen
• Prime Minister – Shigeru Ishiba

Defence

Indian Navy’s submarine INS Vela arrives in Colombo for Operational Turnaround

• Indian Navy’s submarine INS Vela, arrived in Colombo on a three-day visit. The submarine was accorded a ceremonial welcome by the Sri Lanka Navy.
• Several team-building exercises are planned between the crew of the submarine and Sri Lankan navy personnel during the visit.
• INS Vela, an indigenous Kalvari-class diesel-electric submarine, was commissioned into the Indian Navy in November 2021.
• This visit is categorized as an Operational Turnaround (OTA), during which the submarine will replenish its provisions before departing Colombo.
• These visits reflect India’s ‘Neighbourhood First’ policy and Prime Minister Narendra Modi’s vision of the ‘SAGAR’ (Security and Growth for All in the Region) initiative, which seeks to enhance maritime security and regional connectivity.

Sports 

Aryna Sabalenka ends 2024 as World number one in Women’s Tennis

• 26-year-old Aryna Sabalenka of Belarus was confirmed as the World No. 1 women’s tennis player for 2024 by the Women’s Tennis Association (WTA). Her spot as world no.1 was confirmed when Iga Swiatek of Poland lost her match against Coco Gauff in the WTA Finals at Riyadh.
• The WTA Finals was eventually won by Coco Gauff of the United States. This is the first time Aryna Sabalenka has been confirmed as the year-end world number one in women’s tennis.
• Aryna Sabalenka had a very good 2024 season, where she won two grand slam singles titles and two WTA 1000 tournament titles.
• She won the 2024 Australian Open singles title and the 2024 US Open singles title. She also won the WTA 1000 – Cincinnati Open and the Wuhan Open.

Jannik Sinner ends 2024 as World number one in Men’s Tennis

• Jannik Sinner ended the 2024 season as world number 1 ranked male tennis player. Jannik Sinner, for the first time, was ranked as the No. 1 singles player on 10 June 2024 by the Association of the Tennis Professionals (ATP).
• He is the first Italian male tennis player to be ranked world no. 1 in singles since the computerized ATP ranking system was introduced in 1973.
• In 2024, Jannik won the Australian Open and the US Open singles title in 2024.

Anahat Singh wins her Seventh PSA Challenger Title

• The Indian Squash sensation Anahat Singh won her seventh PSA (Professional Squash Association) Challenger Title by winning the singles title of the 2024 NSW Open Squash Tournament.
• In the final of the 2024 NSW Open Squash tournament, she defeated Helen Tang of Hong Kong China 3-1 (8-11, 11-6, 11-3, 11-4).
• Last week, Anahat Singh won the singles title of the 2024 Costa North Coast Open Squash Tournament.
• The 2024 NSW Open Squash Tournament was held in Sydney, Australia.

Neeraj Chopra appoints Jan Zelezny as his Coach

• Tokyo Olympics gold medallist Neeraj Chopra has appointed javelin throw legend Jan Zelezny as his new coach ahead of the 2025 season.
• The former Czech athlete is a World and Olympic champion. He is also the world record holder with a throw of 98.48m.
• Zelezny will join Neeraj in South Africa for a 31-day training camp, starting later this month. Neeraj will train with Zelezny for the next two years and not the entire Olympic cycle.
• Jan Zelezny considered the greatest javelin thrower of the modern era, won gold medals at the 1992 Barcelona, 1996 Atlanta, and 2000 Sydney Summer Olympics.

Important day

11 November – National Education Day

• National Education Day is celebrated on November 11 every year in honor of Maulana Abul Kalam Azad, the first Education Minister of India and a prominent educationist.
• During Azad’s tenure as the education minister of India, the country got statutory bodies like the All India Council for Technical Education (AICTE), the University Grants Commission (UGC) and the Indian Institute of Technology (IIT) Kharagpur, the first IIT in the country. He also played a key role in the establishment of Jamia Millia Islamia (JMI).
• Theme 2024 – Learning for Lasting Peace
• Maulana Abul Kalam Azad was born Abul Kalam Ghulam Muhiyuddin on November 11th 1888 in Mecca, Saudi Arabia. His father, Maulana Khairuddin, was a renowned Islamic scholar.
• Azad was inspired by the modernist writings of Indian philosopher and educationist Sir Syed Ahmed Khan.
• As a teenager, Azad published Al-Hilal, a Calcutta-based Urdu newspaper that was subsequently banned by the British.
• This day highlights the importance of education in shaping India’s future. With 65% of the nation’s population under the age of 35, it is crucial to provide them with opportunities for quality education.
• The Government of India has taken significant strides to promote access to education through various initiatives and constitutional provisions. The introduction of free primary education, reinforced by the 86th Amendment of the Constitution through Article 21-A, guarantees free and compulsory education for children aged six to fourteen as a Fundamental Right.

12 November – World Pneumonia Day

• Every year, the world observes World Pneumonia Day on 12 November,s which is dedicated to raising awareness about pneumonia.
• This disease is life-threatening but a preventable and treatable respiratory illness.
• This day focuses on pneumonia impact, especially among children under five and the elderly who are most vulnerable.
• Theme 2024 – Every Breath Counts: Stop Pneumonia in Its Track.
• World Pneumonia Day was established in 2009 by the Global Coalition against Child Pneumonia, which included organizations like UNICEF, WHO, and Save the Children.

Obituary

Veteran Tamil actor Delhi Ganesh dies

• Veteran Tamil actor Delhi Ganesh passed away at the age of 80.
• Ganesh started his career in acting after a decade-long stint with the Indian Air Force from 1964 to 1974.
• Over the years, Delhi Ganesh appeared in over 400 films across Tamil, Telugu, and Malayalam cinema. Some of his most notable works include Nayakan, Michael Madhana Kama Rajan, Sindhu Bhairavi, Iruvar, and others.

Former top polo player H S Sodhi dead

• Leading former Indian polo player and Arjuna Awardee, Harinder Singh Sodhi passed away at the age of 86.
• He is also known as ‘Billy’ Sodhi,
• Harinder was the manager of the Indian equestrian team during the 1980 Moscow Olympics.

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