ROY’S INSTITUTE OF COMPETITIVE EXAMINATION

Current Affairs
(26th October, 2023 to 25th November, 2023)

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RECENT BOOKS AND AUTHORS

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Books Authors
The Lords of Wankhede W.V. Raman and R. Kaushik

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Breaking the Mould: Reimagining India's Economic Future RaghuramRajan and

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RohitLamba
Building Partnership: India & International Cooperation for Himadri Das
Maritime Security

INTERNATIONAL AFFAIRS
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• India has announced plans to resume visa services for certain categories amid a diplomatic crisis with Canada. According
to the High Commission in Ottawa, it would restore services for entry, business, medical, and conference visas.
• Indians, who are at the forefront of migrating to OECD countries, also lead in acquiring foreign citizenship, according
to the recent OECD report. Among them, American citizenship remains dominant. However, Canada has witnessed the
highest growth in granting citizenship to foreign nationals.
• Norway will help fund India’s ‘Hunger Project’ and help strengthen women leaders to protect the environment and
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promote food security in Uttarakhand. It aims to promote sustainable living, and food security and collaborate with
members of van panchayats and the local community, especially women.
• Sri Lanka, in a bid to revitalize its tourism sector, has taken a significant step by waiving visa fees for tourists from seven
countries, including India. This move aims to attract more visitors and help the country recover from recent economic
challenges.
• The Cyclone Hamoon, a severe weather phenomenon, struck the south eastern coast of Bangladesh on the 25th October
2023, causing widespread concern and necessitating the evacuation of thousands of people. The storm, originating from
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the Bay of Bengal.

• Chile has recently become the 95th member of the International Solar Alliance (ISA), a significant development in the
global effort to promote solar energy.
• Afghanistan has closed its embassy in India permanently with effect from 23.11.2023.
• ‘AI’ that means modelling of human mental functions by computer programs, has been chosen as the Word of the Year
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2023 by Collins Dictionary

• Pablo Picasso’s famous painting “Femme à la montre” (“Woman with a Watch”) sold for a record-breaking $139 million
at a Sotheby’s auction in New York
• A cargo ship named “Galaxy Leader,” en route from Turkey to India, has been hijacked by Yemen’s Houthi rebels in
the Red Sea.
NATIONAL AFFAIRS
• The IIT Kanpur and Airbus signed a MoU to promote research in advanced technologies and develop programs and
activities to enhance technical capabilities. It aims to facilitate increased collaboration in developing education programs
with a focus on research to foster talent development in the Indian aerospace sector.

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• Tata Group will soon make India’s first homegrown iPhone after Wistron Corp approved the sale of an assembly plant
near Bengaluru.
• Reliance Jio Ltd announced the rollout of its Jio Space Fiber satellite broadband service, which it showcased at the
India Mobile Congress as the nation's inaugural satellite-driven gigafiber service. This satellite broadband aims to extend
high-speed internet access to previously untapped regions in India.
• The Competition Commission of India (CCI) has become a part of the prestigious 18-member steering committee of
the International Competition Network (ICN) after "consistent efforts".The steering committee is the ICN's apex body.

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• Kerala became the first state in India to have hallmarking centres in all 14 districts. This will make Kerala a hub of gold
business and further strengthen its claim to being the most reliable market in the country to buy gold ornaments
• The Karnataka Forest Department and Wildlife Trust of India announced that NTT DATA, is supporting the development

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of the HAWK (Hostile Activity Watch Kernel) system. It is a specialized software system that will be the nerve center
of the state forest department as part of their modernization initiatives. HAWK is used to monitor all aspects of forest
and wildlife crime, such as the death of wildlife, and movement of suspicious vehicles.

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• Shri Ram Janambhoomi Trust extended a significant invitation to Prime Minister Narendra Modi, asking him to attend
the installation of Lord Ram’s idol in the ‘Garbhagriha‘ of the Ram Mandir at the Ayodhya temple. The date set for this

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auspicious occasion is January 22, 2024.
• Tamil Nadu’s Chief Minister M.K. Stalin has launched “Project NilgiriTahr,” an initiative aimed at conserving and
protecting the endangered NilgiriTahr species. The project, with a budget of ₹25 crore, seeks to better understand the
NilgiriTahr’s population, distribution, and ecology, as well as address immediate threats to their survival.
• Union Home Minister and Minister of Cooperation, Shri Amit Shah, inaugurated the Nano DAP (Liquid) Plant of the
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Indian Farmers Fertilizer Cooperative (IFFCO) at Kalol in Gandhinagar, Gujarat.
• 7 Indian States & 2 UTs celebrated their Formation Day on 1st November. This special day marks the historical moment
when Andhra Pradesh, Chhattisgarh, Haryana, Punjab, Karnataka, Kerala and Madhya Pradesh, along with the Union
Territories of Lakshadweep and Puducherry, came into existence.
• Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, inaugurated 12 Goods and Services Tax
(GST) SevaKendras, showcasing the government’s commitment to enhancing the Ease of Doing Business in the country.
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• Recently UNESCO welcomed 55 new cities into its Creative Cities Network (UCCN), which focuses on promoting
creativity as a strategic factor in urban development. Notably, two Indian cities, Kozhikode and Gwalior, made their
mark by joining this esteemed network.
Kozhikode, situated in Kerala, stands out as the first Indian city to be designated as the ‘City of Literature’ by UNESCO,
marking a historic achievement.
Gwalior, located in Madhya Pradesh, has earned the distinction of being designated as the ‘City of Music’ by UNESCO,
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following in the footsteps of Varanasi, which received this recognition in 2015.

• Chief Justice of India DY Chandrachud inaugurated ‘Mitti Cafe‘, a unique establishment situated within the Supreme
Court premises. This cafe stands out for being entirely managed by individuals with disabilities, encompassing those
who are visually impaired, have cerebral palsy, and are paraplegic.
• Prime Minister Narendra Modi made a significant announcement from in Durg, Chhattisgarh, regarding the extension of
the Pradhan Mantri Garib Kalyan Anna Yojana, a free ration scheme aimed at assisting 80 crore impoverished individuals.
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The scheme, which was initially introduced during the COVID-19 pandemic in 2020, provides 5 kg of free food grains
every month to those in need. Prime Minister Modi declared the extension of this vital initiative for another five years,
emphasizing the importance of the people's support and blessings in making such decisions.
• More than 22 lakh ‘diyas’ illuminated the banks of the Saryu river in Ayodhya during the seventh edition of the Deepotsav,
setting a new world record for lighting a large number of lamps simultaneously at one place.
• Narendra Modi has become the first Prime Minister to visit Ulihatu Village, the birthplace of BhagwanBirsa Munda.
• Uttarakhand is on the brink of making history as it prepares to become the first state in India to implement the Uniform
Civil Code (UCC).
• Kochi, a vibrant city in the Indian state of Kerala, has earned a prestigious spot on Conde Nast Traveller’s list of the
best places to visit in Asia in 2024.

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• Telangana has unveiled the world’s first 3D-printed temple, a groundbreaking structure situated in Burugupally, Siddipet
district.
• Kishtwar saffron, a prized spice cultivated and harvested in the Kishtwar Region of Jammu and Kashmir, has recently
been bestowed with the prestigious Geographical Indication (GI) tag by the Geographical Indications Registry.
• The Indian government is working on a comprehensive national vision plan, known as ‘Vision India@2047’, aimed at
transforming the country into a developed nation by 2047. The plan is designed to prevent India from falling into the
middleincome trap and focuses on various aspects of economic and social development The main objective of the plan

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is to ensure India’s development into a developed nation by 2047 and avoid the middle-income trap, which has affected
several countries at similar stages of development. NITI Aayog, has been working on this plan for nearly two years.
APPOINTMENTS

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National
Name Post

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Amol Muzumdar Head Coach of Indian women’s Cricket Team

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Rajkumar Rao National Icon of the Election Commission of India
Mahendra Singh Dhoni Brand Ambassador of SBI
Katrina Kaif Global Ambassador of Rado
Ashok Vaswani New MD and CEO of Kotak Mahindra Bank
Chetan Bhagat New Brand Ambassador of Henry Harvin Education (HHE)
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Narendra Modi Chairman of Shree Somnath Trust
Hitesh Kumar S. Makwana Surveyor General of India.
Manoranjan Mishra Executive Director of RBI
Heeralal Samariya Chief Information Commissioner of India
Pankaj Tripathi UPI Safety Ambassador
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Vinay M. Tonse New MD of SBI

Sourav Ganguly Brand Ambassador of West Bengal.
International
Name Post
Mike Johnson Speaker of the House of Representatives(USA)
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Robert Fico Prime Minister of Slovakia

Sultan Ibrahim Iskandar
Professor Sarang Deo
Girish Chandra Murmu
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New King of Malaysia
Member of the Strategic and Technical Advisory Group for
Tuberculosis by WHO
Vice Chair Person of UN Panel of External Auditors.

AWARDS & HONOURS

International
• National Medal of Technology and Innovation : The two Indian - Americans Ashok Gadgil and Subra Suresh were
awarded by US President Joe Biden with this award at the White House for their contribution to science and technology.
• Global Leadership Award for Philanthropy and Corporate Social Responsibility 2023 : The US-India Strategic
Partnership Forum (USISPF) felicitated Nita Ambani with this award.
• Deep Narayan Nayak, from West Bengal, has achieved recognition as one of the top 10 finalists for the prestigious Global
Teacher Prize 2023. This esteemed award, organized annually by the UK-based Varkey Foundation in collaboration
with UNESCO and Dubai Cares, for exceptional educators from across the globe.

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• Ballon d’Or Award 2023

Name of the Award Winner
Ballon d’Or Lionel Messi (Inter Miami, Argentina)
Ballon d’Or Feminin Aitana Bonmatí (FC Barcelona Femení, Spain)
Kopa Trophy for the best male U-21 player Jude Bellingham (Real Madrid, England)
Yachine Trophy for the best male goalkeeper Emiliano Martínez (Aston Villa, Argentina)

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Gerd Müller Trophy for the highest-scoring male Erling Haaland (Manchester City, Norway)
striker
Sócrates Award to acknowledge humanitarian wor Vinicius Junior (Real Madrid, Brazil)

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Club of the Year Manchester City and FC Barcelona Femení
• Vihaan Talya Vikas, a 10-year-old prodigy from Bengaluru, has captured the hearts of photography enthusiasts and

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conservationists alike by winning the top prize in the 10 years and under‘category renowned Wildlife Photographer of
the Year (WPY) competition. This prestigious competition, often known as the ‘Oscars of Photography’.

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• British Academy Book Prize for Global Cultural Understanding 2023 : Nandini Das for her debut book, 'Courting
India: England, Mughal India, and the Origins of Empire.'
• Diana Edulji, Virendra Sehwag and Aravinda de Silva, the three famous cricketers have recently been inducted into the
ICC Hall of Fame.
• World famous author Salman Rushdie, celebrated for groundbreaking works like ‘The Satanic Verses,’ received the
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inaugural ‘Lifetime Disturbing the Peace Award‘ from the Vaclav Havel Center.
• Miss Universe 2023 : Sheynnis Palcios of Nicaragua.
Host:-Jose Adolfo Pineda Arena in San Salvador, EI Slvador

• Booker Prize 2023:- Paul Lynch of Ireland for the novel ‘Prophet Song’.

National
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• RohiniNayyar Prize 2023 : Deenanath Rajput, an engineer-turned-social worker, has awarded the Second RohiniNayyar
Prize for his outstanding contribution to rural development.
• Kerala Jyothi Award 2023 : T. Padmanabhan for his exceptional contributions to Malayalam literature. It is the highest
civilian honor of Kerala.
• Falguni Shah, a Grammy Award-winning Indian vocalist and songwriter, has been nominated for the Best Global Music
Performance category at the 2024 Grammy Awards for her song “Abundance in Millets”, which features a speech written
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and delivered by Prime Minister Narendra Modi.

• Reserve Bank of India has been honored with the ‘Changemaker of the Year 2023Award which is a part of the Hindu
Businessline Changemaker Awards 2023.
• Gansamragini Lata Mangeshkar Award for 2023 : Suresh IshwarWadkar(Singer). It is presented by Maharashtra
Government.
• Indira Gandhi Prize for Peace, Disarmament and Development 2022: Indian Medical Association (IMA) and Trained
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Nurses Association of India.

• JCB Prize for Literature 2023 : Perumal Murugan (Tamil Writer) for the book ‘Fire Bird.
SPORTS NEWS
• Mohammad Shami became the first Indian bowler to pick two five-wicket hauls in ICC ODI World Cups. Shami picked
the wickets of Will Young, RachinRavindra, Daryll Mitchell, Mitchell Santner and Matt Henry in India’s ICC Men’s
Cricket World Cup 2023 clash against New Zealand.
• Virat Kohli has set a new record of scoring 50 centuries in ODIs, breaking the previous record of 49 centuries held by
Sachin Tendulkar.
• Indian Chess players Darpan Inani, Soundrya Pradhan and Ashwin bagged a gold medal in the men’s chess at the
Hangzhou Asian Para Games 2023 in Hangzhou, China.

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• The International Cricket Council (ICC) Board has made a decisive move by relocating the upcoming men’s Under-19
World Cup from Sri Lanka to South Africa. This decision comes in the wake of the ICC’s provisional suspension of Sri
Lanka Cricket (SLC), prompted by concerns of government interference in the administration of cricket in the island
nation.
• Indian Neeraj Yadav clinched a gold medal in the men's javelin throw-F55 event at the Hangzhou Asian Para Games
2023
• One97 Communications Ltd (OCL), owner of brand Paytm announced that it is the official sponsor for the National
Games being held in Goa.

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• Tejas Ashok Shirse of Maharashtra achieved an incredible feat, setting a new National Games record in Men's 110M
hurdles by finishing it in 13.80 minutes. Priyanka Goswami of Uttar Pradesh has also set a new National Games record
in the women’s 20km Race Walk with an impressive time of 1:36:35.

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• Shubman Gill has created a significant mark in the world of One Day International (ODI) cricket by becoming the fastest
player to reach 2000 runs in this format.
• Saudi Arabia is ready to host the 2034 Men’s FIFA World Cup. This development right after Australia unexpectedly

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pulled out from the bid race just hours before the deadline. This move positions Saudi Arabia to make a substantial mark
on the global sports stage.

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• The iconic Wankhede Stadium in Mumbai is set to witness a momentous occasion as a statue of cricket legend Sachin
Tendulkar has been unveiled.
• David Willey, the renowned all-rounder of the England cricket team, has declared his retirement from international
cricket at the age of 33.
• The membership of Sri Lanka has been suspended by the International Cricket Council citing reasons of government
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interference.
• Angelo Mathews, the Sri Lankan cricketer who has become the first cricketer in the history of international cricket to be
‘Timed out’. Timed Out is a method of dismissal when an incoming batsman is not ready to play within a given amount
of time of the previous batter being either dismissed or retired.
• Indian captain Rohit Sharma has left an indelible mark on cricket history by becoming the first player to hit 50 sixes in
the World Cup. Achieving this remarkable feat during the semifinal clash against New Zealand in Mumbai, surpassing
Chris Gayle’s record of 49 sixes in World Cups
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37thNational Games of India 2023

 Host : Goa
 Motto : Get, Set Goa
 Held from 25 October to 09 November 2023
 Mascot : Moga, an Indian Bison
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 Total Sports : 43
 Opening Date : 25th October, 2023
 Closing date : 9th November 2023
 Medals Tally(Top 3 and West Bengal)
State Gold Silver Bronze Total
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1. Maharashtra 80 69 79 228
2. Services 66 27 33 126
3. Haryana 62 55 75 192
18. West Bengal 7 23 26 56

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THEME OF IMPORTANT DAYS

Important Day Theme for 2023
World Day for Audiovisual Heritage Your Window to the World.
(27th October)
World Stroke Day (29th October) Together we are Greater Than Stroke

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World Thrift Day (30th October) Preparing for the future through saving
World Tsunami Awareness Day (5th Fighting Inequality for a Resilient Future
November)

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World Diabetes Day (14th November) Access to Diabetes Care
World Childrens' Day (20th For Every Child, Every Right
November)

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International Day for Elimination UNiTE! Invest to Prevent Violence Against Women & Girls!

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of Violence against Women #No Excuse
(25thNovember)

OBITUARIES
• Richard Roundtree : The famous actor who starred as the ultra-smooth private detective in several Shaft films beginning
in the early 1970s, has passed away.
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• Li Keqiang : The former Chinese Premier has died after suffering a heart attack at the age of 68.
• Matthew Perry : The famous actor passed away in Los Angeles home at the age of 54.
• Henry Kissinger : The former US Secretary of State and recipient of Nobel Peace Prize 1973.
• Justice M. Fathima Beevi : The first female judge of Supreme Court of India and former Governor of Tamil Nadu has
passed away.
• Shri S. Venkitaramanan : The former Governor of Reserve Bank of India (1990 to 92) and India's former Finance
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Secretary has passed away.

• Subrata Roy : The famous Business icon and founder of Sahara India Pariwar has passed away.

SUMMITS, CONFERENCES AND FESTIVALS

Event Location
National Tribal Festival 2023 Vastrapur Hat in Ahmedabad(Gujarat)
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24th Hornbill Festival 2023 Nagaland

2nd Saras Ajeevika Mela 2023 Gurugram, Haryana
Mera Houchongba Mela 2023 Imphal, Manipur
7th India Mobile Congress 2023 PragatiMaidan, New Delhi
Green Tourism Conclave 2023 Shillong, Meghalaya
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Indian Military Heritage Festival 2023 Manekshaw Centre, New Delhi

India Manufacturing Show 2023 Bengaluru, Karnataka
AI Safety Summit 2023 Bletchley Park, Buckinghamshire
Joint Arab-Islamic Extraordinary Summit 2023 Riyadh, Saudi Arabia
10th ASEAN Defence Ministers’ Meeting-Plus 2023 Jakarta, Indonesia
International Conference on Plant Health Hyderabad, Telangana
Management (ICPHM) 2023
11th International Tourism Mart 2023 Shillong, Meghalaya
ASEAN-India Millet Festival 2023 Indonesia

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54th International Film Festival of India

 Venue: Goa,
 Held from 20 to 28 November 2023
 Satyajit Ray Lifetime Achievement Award: Hollywood film director Michael Douglas
 No. of films screened : 270.
 Opening film : Catching Dust (British)

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 Closing film : The Featherweight (American)
 Opening film of Indian Panorama (Feature films) : Aattam (Malayalam)
 Opening film of Indian Panorama (Non-Feature films) : Andro Dreams (Manipuri)

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 Special Recognition for Contribution to Indian Cinema Award : Madhuri Dixit
 ICFT-UNESCO Gandhi Medal : Drift by Anthony Chen
 Golden Peacock for the Best Film : Endless Borders (Persian)

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 Silver Peacock for Best Director : Stephan Komandarev (Bulgaria)

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 Silver Peacock for Best Actor (Male) : Pouria Rahimi Sam for Endless Borders
 Silver Peacock for Best Actor (Female) : Melanie Thierry for Party of Fools
 Special Jury Award : Rishabh Shetty for Kantara
 Award for Best Debut Feature Film of a Director : Syrian director Reger Azad Kaya for When the Seedlings Grow
 Best Web Series (OTT) Award to Panchayat Season 2
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SCIENCE AND TECHNOLOGY
• China is embarking on a ground breaking endeavour by constructing an immense telescope in the western Pacific Ocean.
The primary mission of this massive facility is to detect elusive particles known as “ghost particles” or neutrinos. This
ambitious undertaking will result in the world’s largest neutrino-detecting telescope.
• China’s space endeavors are reaching new heights, evident in the recent launch of Shenzhou 17 from the Jiuquan Satellite
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Launch Center.
• Nokia, a global technology leader, has made a significant stride in the Indian broadband market by joining forces with
TATA Play Fiber to introduce the country’s first WiFi6- ready broadband network.
• Researchers at the Jawaharlal Nehru Tropical Botanic Garden and Research Institute (JNTBGRI) in Kerala, have
identified a new species of mushroom, named Candolleomycesalbosquamosus, found on the JNTBGRI campus in the
Western Ghats.
• IIT Madras has become the first Indian Institute of Technology to establish an international campus on the picturesque
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Zanzibar Island in East Africa.

• ISRO’s maiden solar mission, Aditya L1, has marked a significant achievement by capturing its first high-energy Xray
glimpse of solar flares.
• Google is taking a significant step in catering to the educational needs of teenagers with the launch of its AI chatbot,
Bard.
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APPS, PORTALS, SCHEMES

• Rajasthan government launched the ‘iStart Talent Connect Portal’ at Jaipur’s Techno Hub. This new portal is a significant
addition to the state’s flagship initiative, iStart Rajasthan, and is a collaborative effort with the Jaipurbasedstartup,
HyreFox.
• The Election Commission of India (ECI) has developed an in-house software named ‘ENCORE,’ which stands for
Enabling Communications on Real-time Environment. ENCORE is a comprehensive software suite designed for efficient
candidate and election management, offering a range of features for smooth operations during the electoral process.
• A recent data analysis by LibTech India, a consortium of academics and activists, has revealed significant changes in the
Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) for the period from April to September
2023. The data, sourced from the Union Rural Development Ministry, shows a 7.5% reduction in the number of active
MGNREGS workers compared to the previous fiscal year.
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• The government of Goa has launched Swayampurna e-bazaar, the online platform to give market to different kinds of
products made by self-help groups and women. It is an extension of the successful SwayampurnaChavath Bazar.Goan
entrepreneurs and self-help groups can contact 9262626262 to join this platform and sell their products online,
• Delhi government has relaunched ‘Jai Bhim Mukhyamantri Pratibha Vikas Yojana’ to provide free coaching to medical,
engineering, and civil services aspirants. According to announcement, the government is going to introduce more
competitive exams under the scheme for which free coaching will be provided to the eligible students.

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• The Indian Institute of Technology Kanpur (IITK) has established a Center of Excellence (CoE) named ATMAN
(Advanced Technologies for Monitoring Air-quality iNdicators).
• Prime Minister Narendra Modi is set to launch the PM PVTG Development Mission, a groundbreaking scheme aimed at

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fostering the comprehensive development of approximately 28 lakh people belonging to Particularly Vulnerable Tribal
Groups (PVTGs). This significant event is scheduled to coincide with the birth anniversary celebration of the revered
tribal freedom fighter, Birsa Munda, observed as Janjatiya Gaurav Diwas for the past three years.

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IMPORTANT INDEXES AND REPORTS

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• India is grappling with severe air pollution issues, with Mumbai ranking as the second most polluted city according
to IQAir, a leading air quality measurement company. Delhi, the capital, also faces significant air quality challenges,
ranking sixth globally. The air quality index (AQI) measures pollution levels, indicating the health risks associated with
breathing the air.
ECONOMY AND BANKING AWARENESS
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• The Indian government is working on a comprehensive national vision plan, known as ‘Vision India@2047’, aimed at
transforming the country into a developed nation by 2047.
The plan is designed to prevent India from falling into the middle-income trap and focuses on various aspects of economic
and social development.
The plan envisions making India a $30 trillion economy by 2047, a significant increase from its current economic size.
The plan targets a per-capita income ranging from $18,000 to $20,000.
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• The International Monetary Fund (IMF) in its “Navigating Global Divergences” report for October 2023, unveiled its
latest economic projections, revealing that global growth is expected to remain at 3 percent in 2023 and further decline
to 2.9 percent in 2024, marking one of the lowest growth rates in decades.
Emerging markets and developing economies are likely to witness a slight decrease in growth, moving from 4.1 percent
in 2022 to 4 percent in both 2023 and 2024.
Fitch has upgraded India’s mid-term GDP growth forecast to 6.2%.
Foreign brokerage UBS recently revised its FY24 real GDP growth estimate for India, raising it to 6.3%.
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In its recently released “2024 India Economics Outlook,” Morgan Stanley Research predicts that India’s economy will
experience substantial growth, hovering around 6.5% for both FY2024 and FY2025.
S&P Global, in its latest report, has forecasted robust economic growth for India in the medium term, estimating a GDP
expansion ranging between 6 to 7.1 percent annually from FY24 through FY26.
Moody’s Investor Services maintains its growth projection for India at 6.7% for 2023.
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Goldman Sachs, the US-based investment bank, forecasts India’s economy to grow at a rate of 6.5% in the fiscal year
2024-25, surpassing the projected 6.2% for the current financial year.
• In September 2023, the growth rate of eight key infrastructure sectors in India witnessed a slowdown, reaching a four-
month low of 8.1%.
April to September 2023-24: For the period of April to September 2023-24, the combined growth of these eight sectors
was 7.8%, a notable decrease from the 9.8% growth recorded in the same period the previous year.
In August, the core sector experienced a substantial growth of 12.5%, the highest since June 2022, when it reached
13.2%.
• In the first half of the 2023-24 financial year, India’s central government faced a fiscal challenge, with the fiscal deficit
rising to 39.3% of the annual target, a slight increase from the previous year’s 37.3%.
This widening gap between expenditure and revenue amounted to Rs 7.02 lakh crore by the end of September 2023, as
reported by the Controller General of Accounts (CGA).
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• The Pension Fund Regulatory and Development Authority (PFRDA) has introduced new National Pension System
(NPS) withdrawal rule changes, providing subscribers with greater flexibility in managing their retirement funds.
The PFRDA has made ‘penny drop’ verification mandatory for all NPS fund withdrawals.
This verification process ensures the accurate and secure transfer of funds to subscribers’ bank accounts during withdrawals
and scheme exits.
NPS subscribers can withdraw up to 60% of their pension corpus through Systematic Lump Sum Withdrawal (SLW)

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on a monthly, quarterly, half-yearly, or annual basis.
This flexibility extends until the age of 75, providing subscribers with choices to suit their financial needs in retirement.
The withdrawal limits for NPS remain unchanged. Subscribers with a total deposit and interest of less than ₹5 lakh can

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withdraw the entire amount at once.
NPS interest rates are not fixed but range between 9% and 12%, depending on the chosen scheme.
Interest is compounded monthly and transferred by government authorities.

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• In October, India witnessed a significant rebound in its Gross Goods and Services Tax (GST) collections, reaching a
10-month high of ₹1.72 lakh crore.

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This growth of 13.4% year-on-year is the sharpest uptick since December 2022.
The average monthly GST collection for FY 2023-24 stands at ₹1.66 lakh crore, representing an 11% increase over the
previous financial year.
October’s GST revenues included Central GST (CGST) of ₹30,062 crore, State GST of ₹38,171 crore, and Integrated
GST (IGST) of ₹91,315 crore.
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• In October, UPI achieved a remarkable milestone, crossing an astonishing 11.4 billion transactions with a total transaction
value surpassing Rs 17.6 lakh crore.
The platform recorded a 55 percent year-on-year growth in transaction volume and a 42 percent growth in transaction
value.
NPCI’s Chief, Dilip Asbe, has set an ambitious goal for UPI to achieve 2 billion daily transactions by 2030.
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AePS witnessed monthly transaction volumes of 100 million in October. However, this represents a 15 percent decrease
compared to the previous year.
• The European Union’s proposed Carbon Border Adjustment Mechanism (CBAM).
Objectives
Reduce carbon emissions from imported goods.
Promote a level playing field between the EU and its trading partners.
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Protect EU companies that have invested in green technologies.

India plans to neutralize the impact of the EU’s carbon tax by imposing its own.
Revenue from India’s carbon tax will support the country’s green energy transition, helping exporters shift to cleaner
energy and reduce their carbon footprint.
• The Reserve Bank of India (RBI) has issued a notification, granting Non-Resident Indians (NRIs) unrestricted investment
access to the Government’s Sovereign Green Bonds for the fiscal year 2023-24.
RI

The RBI circular designates all Sovereign Green Bonds issued in 2023-24 as ‘specified securities’ under the Fully
Accessible Route (FAR).
The government aims to raise Rs 20,000 crore through green bonds in the current financial year.
Green bonds are financial instruments dedicated to funding projects with direct environmental benefits.
These projects encompass renewable energy, clean transportation, and green buildings.
• India’s retail inflation, as measured by the Consumer Price Index (CPI), witnessed a 4-month low in October, settling
at 4.87%.
September’s 5.02%.
India’s Wholesale Price Index (WPI)-based inflation rate continued its downward trend, reaching a three-month low of
-0.52% in October.

RICE EDUCATION : HEAD OFFICE, BELGHARIA-DISHARI HOUSE, 11/1 B.T. ROAD,RATHTALA, KOLKATA - 56.
 [ 10 ]

• The central government has announced a substantial reduction in the Special Additional Excise Duty (SAED) on crude oil
imports. The tax, which was previously set at Rs. 9,800 per tonne, has been slashed by 35.71% to Rs. 6,300 per tonne.
The new tax structure is set to come into effect from November 16, 2023.
• India’s Gross Domestic Product (GDP) has crossed the $4 trillion mark in nominal terms.
• The National Statistical Office (NSO) reveals rural inflation has consistently surpassed urban inflation in 18 of the past
22 months, spanning from January 2022 to October 2023.
In October 2023, rural inflation stood at 5.12%.
Urban inflation during the same period was recorded at 4.62%.

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• Singapore emerged as the leading investor with $5.22 billion in FDI during April-September.
• India’s Gross Domestic Product (GDP) has crossed the $4 trillion mark in nominal terms.
• The Reserve Bank of India (RBI) has announced a two-year extension of the Payments Infrastructure Development

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Fund (PIDF) scheme until December 31, 2025.
The PIDF scheme, operational since January 2021 for three years, initially focused on incentivizing the deployment
of payment acceptance infrastructure in tier-3 to tier-6 centers, north-eastern states, and Union Territories of Jammu &

I
Kashmir and Ladakh.
In August 2021, beneficiaries of the PM SVANidhi Scheme in Tier-1 and 2 centers were included.

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• Female labour force participation rate rising to 24% compared with 23.2% in the previous quarter and 21.7% in Q2FY23,
showed government data released.
The overall unemployment rate remained steady at 6.6%, with a marginal increase in men’s unemployment to 6% from
the previous quarter’s 5.9%.
• Fincare Small Finance Bank (Fincare SFB) is set to merge with AU Small Finance Bank (AU SFB) starting from February
1, 2024.
UC
The completion of this merger is contingent upon approval from the shareholders of both banks, regulatory endorsements
from the Reserve Bank of India (RBI) and the Competition Commission of India (CCI), and a capital infusion of Rs.
700 crores by Fincare SFB’s promoters.
• Reserve Bank of India (RBI) has announced its decision to directly regulate all entities that facilitate cross-border
payment transactions related to the import and export of goods and services.
The RBI, introduced a novel category known as Payment Aggregator-Cross Border (PA-CB) to encompass all entities
involved in facilitating cross-border payments.
ED

Entities applying for authorization to operate as PA-CBs must have a minimum net worth of ₹15 crore at the time
of application. Additionally, they are required to maintain a minimum net worth of ₹25 crore by March 31, 2026,
demonstrating their financial stability and commitment to the industry.
The maximum value has been capped at ₹25,00,000, ensuring that smaller transactions are appropriately regulated while
larger transactions may require additional scrutiny and due diligence.
• The Reserve Bank of India (RBI) has provided an update on the withdrawal of ₹2,000 denomination banknotes as of
October 31, 2023.
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More than 97% of the ₹2,000 banknotes in circulation as of May 19, 2023, have been returned by October 31, 2023.
The window for deposit and exchange of ₹2,000 banknotes is still open at the 19 Issue Offices of RBI.
The RBI encourages the public to use the India Post service to send these banknotes for deposit or exchange, eliminating
the need to travel to RBI Offices.
• The Reserve Bank of India (RBI) has unveiled a plan to gradually discontinue the Incremental Cash Reserve Ratio
(I-CRR).
RI

The RBI Governor, Shaktikanta Das, introduced the I-CRR, mandating all scheduled banks to maintain a 10% reserve
ratio on the increase in their net demand and time liabilities (NDTL) between May 19, 2023, and July 28, 2023.
On September 9, 25% of the I-CRR will be released, followed by another 25% on September 23. The remaining 50%
of the I-CRR will be released on October 7.
• Karnataka Bank, has announced a strategic partnership with HDFC Life. This collaboration aims to provide customers
with a comprehensive suite of innovative and customer-centric financial solutions.
• Madhabi Puri Buch, the Chairperson of the Securities and Exchange Board of India (SEBI), has officially launched the
Investor Risk Reduction Access (IRRA) platform at the Bombay Stock Exchange (BSE). Developed under the guidance
of Market Infrastructure Institutions (MIIs) overseen by SEBI, the IRRA platform is designed to mitigate risks faced by
investors during technical glitches at Trading Member (TM) ends, encompassing both primary and disaster recovery sites.
The IRRA platform underwent a soft launch on October 3, 2023, with its official launch occurring on November 20, 2023.
The main objective of the IRRA platform is to safeguard investors’ funds and ensure the protection of their positions.
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DEFENCE NEWS AND EXERCISES

• India and the European Union conducted their maiden joint naval exercise in the Gulf of Guinea on the west coast of
Africa in a bid to boost maritime security cooperation to support the region. During the exercise, Indian Navy’s INS
Sumedha, an Offshore Patrol Vessel, was joined by three EU Member States’ ships in the Gulf of Guinea Italian Navy
Ship ITS Foscari, French Navy Ship FS Ventôse, and Spanish Navy Ship Tornado.
• Hindustan Aeronautics Limited(HAL) has signed a MoU to develop industrial cooperation in ring forging manufacturing
for commercial engines with Safran Aircraft Engines. HAL will produce Leading Edge Aviation Propulsion powering

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Airbus A320 Neo family and Boeing 737 Max engine forgings at its foundry in Bengaluru
• The Indian Air Force recently signed a contract with an Indian manufacturer for the procurement of Automatic Weather
Stations at 82 IAF locations.
• The Indian Army recently launched ‘Project Udbhav‘ with the aim of rediscovering the profound Indian heritage of

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statecraft and strategic thoughts derived from ancient Indian texts. “Project Udbhav, initiated by the military, aims to tap
into ancient Indian treatises such as Chanakya’sArthashastra, Kamandaka’sNitisara, and the Thirukkural by the Tamil
poet-saint Thiruvalluvar to glean insights on statecraft, strategy, diplomacy, and warfare.

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• The Indian Army inaugurated its first Vertical Wind Tunnel (VWT) at the Special Forces Training School (SFTS) in
Himachal Pradesh.

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Name of Exercise Participating Countries Location Type
Exercise KAZIND-2023 India and Kazakhstan Otar, Kazakhstan Army
Exercise BONGOSAGAR India and Bangladesh Bay of Bengal Navy
2023
Exercise Surya Kiran 2023 India and Nepal Pithoragarh, Army
UC
Uttarakhand
Exercise VAJRA India and USA Umroi, Meghalaya Special Force
PRAHAR 2023
Exercise Mitra India and Sri Lanka Pune, Maharashtra Army
Shakti-2023
ED

ICC Men's Cricket World Cup 2023

• Host : India
Held from 05 October to 19 November 2023
• Venue for first and final match : Narendra Modi Stadium, Ahmedabad
• Mascots : Tonk and Blaze
• Official theme song : DilJashn Bole composed by Pritam
• Winner : Australia
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• Runners-up : India
• Countries : 10 (Afghanistan, Australia, Bangladesh, England, India, Netherlands, New Zealand, Pakistan, South Africa,
Sri Lanka)
• Matches : 48
• Player of the series : ViratKohli
• Most runs : ViratKohli (765)
RI

• Most wickets : Mohammed Shami (24)

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RICE EDUCATION : HEAD OFFICE, BELGHARIA-DISHARI HOUSE, 11/1 B.T. ROAD,RATHTALA, KOLKATA - 56.