Current Affairs Today 6th November 2024 Daily GK Update

Daily Current Affairs 6th November 2024 Daily GK Update

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 National News

India, Algeria sign MoU on bilateral defence cooperation

  • India and Algeria have signed the Memorandum of Understanding (MoU) on bilateral defence cooperation.
  • The MoU will elevate the defence partnership between both nations, fostering mutual understanding and enhancing strategic interests.
  • Deliberations were held on furthering bilateral military cooperation and capacity building. Make In India initiatives and technology exchange were also discussed between both military leaders.

Recently India signed MoUs with others countries

  • India and Colombia sign Audio-Visual Co-Production Agreement to boost film co-production and cultural tie
  • India and Jamaica signed four MoU to strengthen and boost their bilateral relationships.
  • India and Republic of Uzbekistan sign Bilateral Investment Treaty in Tashken
  • India and Bhutan Deepen Cooperation on Food Safety and Regulatory Standards
  • India, European Union agree to deepen cooperation in Sustainable Water Management
  • FSSAI, Ministry of Agriculture and Livestock of Brazil sign MoU for food safety collaboration

Cairn becomes India’s 1st oil & Gas Company to join UNEP’s OGMP 2.0.

  • Cairn Oil & Gas, part of Vedanta Group, has signed a memorandum of understanding with the United Nations Environment Programme’s flagship methane reporting and mitigation initiative – Oil & Gas Methane Partnership (OGMP) 2.0, making it the first oil and gas producer in India to commit to the effective reduction of methane emissions.
  • OGMP 2.0 established a comprehensive framework that includes best practices for emissions management and a robust reporting system. It emphasises accurate measurement, reporting, and verification (MRV) of methane emissions to drive reductions effectively.
  • OGMP 2.0 covers over 40 per cent of global oil and gas production empowering companies to improve the quality and accuracy of emissions data for effective methane reduction.
  • Earlier this year, Cairn had announced the fast-tracking of its net zero commitments to 2030.

Union Minister of Consumer Affairs, Food and Public Distribution Pralhad Joshi launches Phase – II retail sale

  • The Union Minister of Consumer Affairs, Food and Public Distribution, and New & Renewable Energy, Pralhad Joshi, has launched Phase – II of the retail sale of Bharat Atta and Bharat Rice by flagging off mobile vans of NCCF, NAFED, and Kendriya Bhandar here.
  • Bharat Atta at MRP of Rs.30 per kg and Bharat Rice at MRP of Rs.34 per kg is being made available to consumers during Phase-II.
  • In the initial stage of Phase – II, 3.69 LMT of Wheat and 2.91 LMT of Rice are made available for retail sale. During Phase – I, around 15.20 LMT of Bharat Atta and 14.58 LMT Bharat Rice was made available to general consumers at subsidized rates.
  • Bharat Atta and Bharat Rice will be available at stores and mobile vans of Kendriya Bhandar, NAFED and NCCF and e-commerce /big chain retailers. During the Phase-II. ‘Bharat’ brand Atta and Rice will be sold in 5 Kg and 10 Kg bags.

ONGC, NTPC form joint venture to advance renewable, new energy interests

  • Leading public sector undertakings (PSUs) NTPC Limited and Oil and Natural Gas Corporation (ONGC) announced the formation of a 50:50 joint venture company (JVC) to further promote their interests in the renewable and new energy arena.
  • The JVC between the country’s largest power generating company and largest oil and gas producer has been formed through their green energy subsidiaries – NTPC Green Energy Ltd (NGEL) and ONGC Green Energy Ltd.
  • The new company will venture into various renewable energy and new energy opportunities including solar and wind energy, both onshore and offshore, and green molecule. Such as green hydrogen, green ammonia, sustainable aviation fuel (SAF), and green methanol.
  • It will also focus on new and emerging technologies in the field such as energy storage including both pump and battery storage, e-mobility, carbon credits and green credits.

International News

Henley Passport Index 2024: India at 83rd; topped by Singapore

  • Singapore has been named the world’s most powerful passport again, offering its citizens visa-free access to 195 countries, according to the latest Henley Passport Index released in October 2024.
  • France, Germany, Italy, Japan, and Spain shared the second place, granting their citizens visa-free access to 192 countries, as per the latest rankings.
  • The United States ranked 8th, giving its citizens visa-free entry to 186 countries.
  • Meanwhile, India ranked 83rd, providing its citizens with visa-free access to 58 countries.
  • Asian countries have consistently led the Henley Passport Index for several years. Nations such as Japan, Singapore, and South Korea frequently occupy the top positions among the world’s most powerful passports, granting their citizens visa-free access to numerous countries.
  • Afghanistan, Syria, Iraq, Yemen, Somalia, and India’s neighbor Pakistan are the least powerful indexes in the world, as per the rankings.

Recent index

  • World Justice Project Rule of Law Index 2024 – India at 79th; topped by Denmark
  • First Global Nature Conservation Index 2024 – India ranks 176th with a score of 45.5 out of 100; Luxembourg ranked 1st with a score of 70.8
  • Global Innovation Index 2024 – India at 39th;  topped by Switzerland
  • Asia Power Index – 1st USA; 2nd China; 3rd India; 4th Japan; 5th Australia
  • Energy Transition Index 2024: India at 63rd, topped by Sweden
  • Environment Performance Index 2024: India at 176th spot topped by Estonia

EAM Jaishankar inaugurates India’s new consulate in Brisbane

  • External Affairs Minister S Jaishankar has inaugurated the new Consulate General of India in Brisbane, underlining that this will contribute to strengthening India’s ties with the Queensland state, promoting trade and serving the diaspora.
  • Queensland is home to almost 100,000 out of the nearly one million people of Indian-origin living in Australia, and India is the state’s second-largest export market. Besides Brisbane, India has consulates in Melbourne, Perth and Sydney.
  • The consulate in Brisbane will be headed by consul general Neetu Bhagotia.

Banking and Financial

SEBI proposes 30-day deadline for mutual fund deployment of NFO proceeds

  • In a move aimed at enhancing the timely deployment of funds raised through mutual fund (MF) schemes during new fund offering (NFO) periods, the markets regulator — Securities and Exchange Board (Sebi) proposed a 30-day deadline for fund managers.
  • Currently, there is no stipulated time frame for the deployment of NFO proceeds in line with the specified investment strategy.
  • In a consultation paper, Sebi outlined that this timeline could be extended to 60 days with approval of the fund house’s investment committee, but only under specific conditions, such as “expensive valuation in specific sectors or market capitalisations, market dynamics, uncertainty following geopolitical developments, or unavailability of securities with specific maturity.

Appointment

UDC presidential candidate Duma Boko declared as 6th president of Botswana

  • Duma Boko, the presidential candidate of the Umbrella for Democratic Change (UDC), was declared Botswana’s sixth president. Botswana’s Chief Justice, Terence Rannowane, announced on national television.
  • According to the southern African country’s electoral law, the polling will determine 61 members of the National Assembly and 609 local councillors, with the party that holds at least 31 parliament seats to be declared as the winner.
  • While the counting is yet to be finalised, UDC has already secured 34 members of the National Assembly, and the ruling party, the Botswana Democratic Party, got four seats.

Newly Appointed Prime Minister & President

  • President of Vietnam – Luong Cuong
  • President of Indonesia – Prabowo Subianto
  • President of Tunisia – Kais Saied (2nd time)
  • President of Mexico – Claudia Sheinbaum (first woman president of nation)
  • PM of Japan – Shigeru Ishiba (replace Fumio Kishida)

Rahul Bhave named as MD and CEO of IFCI

  • FSIB, the headhunter for directors of state-owned banks and financial institutions, has recommended Rahul Bhave for the position of Managing Director (MD) and CEO of IFCI Ltd.
  • Bhave is currently the Deputy Managing Director of IFCI.
  • Besides, FSIB has recommended Palash Srivastava for the position of Deputy Managing Director in IIFCL.

Recent Appointment in Banking & Insurance Sector

  • MD and CEO of Punjab National Bank (PNB) – Ashok Chandra
  • MD & CEO of Axis Bank – Amitabh Chaudhry (reappointment for 3 years)
  • CFO of HSBC Bank – Pam Kaur (first female CFO; replace Georges Elhedery)
  • CEO of JP Morgan Chase Bank India CEO – Pranav Chawda
  • Chairperson of the Board of National Pension System (NPS) Trust – Chitra Jayasimha (replace Venkata Rao Yadagani)

SBI appoints Debasish Mishra as Chief General Manager of New Delhi Circle

  • State Bank of India (SBI) has appointed Debasish Mishra as the Chief General Manager of its New Delhi Circle.
  • Mishra has experience across Credit, Operations, Forex, IT, HR, and MSME sectors, both in India and overseas.
  • Mishra, a Certified Financial Planner and Chevening Gurukul Scholar, has been appointed at a crucial time for SBI’s New Delhi Circle. This circle, which includes over 1,700 branches, is focused on strengthening its market position in line with the country’s growth.
  • Currently, SBI operates 17 local head offices, each led by Chief General Managers, who oversee a network of approximately 22,600 branches nationwide.

The International Solar Alliance Announces the Selection of its third Director General

  • The seventh session of the ISA Assembly in progress in New Delhi selected Mr Ashish Khanna from the Republic of India as its third Director General.
  • The other office candidates included Mr Wisdom Ahiataku—Togobo from Ghana and Mr Gosaye Mengistie Abayneh from Ethiopia.
  • The Director General of ISA plays a crucial role in supporting the Assembly in advancing the International Solar Alliance mandate. This includes supporting to Member Countries in addressing common challenges and engaging in coordinated action to scale up the deployment of solar energy globally.
  • Dr Ajay Mathur, who has led the Alliance since 2021, will conclude his tenure on 14 March 2025. Under his leadership, the Alliance has achieved significant milestones, including a monumental rise in Member & Signatory Countries tallying at 103 and 17, respectively.

Defence

India-Vietnam joint military exercise commences at Ambala

  • The 5th Edition of Vietnam Indian Bilateral Army Exercise “VINBAX 2024” commenced at Ambala. The exercise will be held from November 4 to 23 at Ambala and Chandimandir.
  • The conduct of VINBAX-2024, as a field training exercise with enhanced scope from previous editions of bilateral exercise, will strengthen mutual confidence, and interoperability and enable sharing of best practices between the Indian Army and Vietnam People’s Army.
  • The aim of VINBAX-2024 is to enhance joint military capability of both sides in employment and deployment of engineer company and medical teams to undertake engineering tasks as part of United Nation Contingent in Peace Keeping Operations under Chapter VII of the United Nations Charter.

Recent Exercise

  • 9th edition of Exercise GARUD SHAKTI 2024 between India and Indonesia – Jakarta
  • 15th edition of Exercise VAJRA PRAHAR between India and USA – Orchard Combat Training Centre in Idaho, US.
  • 31st edition of Maritime Bilateral Exercise (SIMBEX) between Singapore and India – Eastern Naval Command Visakhapatnam
  • 18 edition of Joint Naval Drill ‘Naseem Al Bahr’ between India and Oman – coast off Goa
  • Army’s Sudarshan Chakra Corps of Southern Command is conducting ‘Exercise SWAVLAMBAN SHAKTI’ at Babina Field Firing Ranges near Jhansi.

Important day

6 November – International Day For Preventing The Exploitation Of The Environment In War And Armed Conflict

  • International Day For Preventing The Exploitation Of The Environment In War And Armed Conflict is observed every year on 6 November.
  • On May 27, 2016, the United Nations Environment Assembly adopted resolution UNEP/EA.2/Res.15, which recognized the role of healthy ecosystems and sustainably managed resources in reducing the risk of armed conflict, and reaffirmed its strong commitment to the full implementation.

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