National News

Pralhad Joshi Launches Bharat Chana Dal Phase II in Delhi-NCR.

• Union Food and Consumer Affairs Minister Pralhad Joshi has officially launched the Bharat Chana Dal Phase II retail initiative in the Delhi-NCR region.
• This launch involved the flagging off of mobile vans from NCCF, NAFED, and Kendriya Bhandar to distribute these essential products.
• In this phase, 3 lakh tons of Chana stock from the price stabilization buffer will be converted into Chana Dal and Chana Whole.
• These products will be available for retail sale at a maximum retail price (MRP) of ?70 per kg for Chana Dal and ?58 per kg for Chana Whole.
• Additionally, the government has expanded the Bharat brand to include Moong and Masur Dals, with prices set at ?107 per kg for Bharat Moong Dal, ?93 per kg for Bharat Moong Sabut, and ?89 per kg for Bharat Masur Dal.

Jyotiraditya M. Scindia Launches International Incoming Spoofed Calls Prevention System.

• Union Minister for Communications, Jyotiraditya M. Scindia, has unveiled the International Incoming Spoofed Calls Prevention System developed by the Department of Telecommunications (DoT).
• This innovative system is designed to detect and block spam international calls that falsely display Indian numbers as the caller ID, protecting consumers from potential scams.
• Scammers often impersonate authorities, such as police or courier company employees, using international numbers that appear as local Indian numbers on victims’ phones.
• To combat this issue, the finance ministry allocated ?38.76 crore to the DoT for setting up this system, initially known as the Centralised International Out Roamer (CIOR).
• Additionally, funding for the Digital Intelligence Unit (DIU)—a project aimed at investigating telecom fraud—has been increased from ?50 crore to ?85 crore for the upcoming fiscal year.
• This system was rolled out in two phases, with initial implementation at the telecom operator level earlier this month, resulting in the successful blocking of approximately 3 to 3.2 million spoofed calls daily.

NESTS Launches Amazon Future Engineer Program for Eklavya Model Residential Schools.

• The National Education Society for Tribal Students (NESTS) has officially launched the Third Phase of the Amazon Future Engineer Program in 50 Eklavya Model Residential Schools (EMRS) across several states, including Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh, Odisha, Telangana, and Tripura.
• This phase focuses on essential skills such as blockchain, artificial intelligence, coding, and block programming, providing students with hands-on experience in these cutting-edge technologies.
• The program is set to expand further, with plans to roll it out to 410 proposed EMRSs nationwide.
• Having successfully introduced over 7,000 students in grades 6 to 8 to the fundamentals of computer science over the past two years, the Amazon Future Engineer Program has also trained more than 50 teachers in previous phases.
• The initiative aims to enhance technological literacy and modernize education for tribal students across India.
• In addition, the program will offer project-based virtual sessions for class 10 students, aligning with the CBSE AI Skills Curriculum.
• NESTS is committed to empowering tribal students and preparing them for future careers in technology.

BSNL Unveils New Brand Identity and Launches Seven Digital Services for Nationwide Connectivity.

• Bharat Sanchar Nigam Limited (BSNL) has officially unveiled its new logo and introduced seven innovative digital services aimed at providing secure, affordable, and reliable connectivity across India.
• The launch event, led by Union Minister of Communications Jyotiraditya M. Scindia in New Delhi, marks a significant milestone for the company.
• Among the new offerings, BSNL has launched automated SIM kiosks that provide 24/7 services with convenient UPI payment options.
• Additionally, customers can enjoy an intranet TV service that offers over 500 channels through its Fiber to the Home (FTTH) network at no extra cost.
• Focusing on security, BSNL’s new services include an automatic spam-blocking system and a dedicated disaster relief operations network.
• The company has also rolled out a national Wi-Fi roaming service for FTTH customers and introduced private 5G connectivity for mining operations in collaboration with C-DAC.
• The redesigned logo features green and white arrows surrounding India against an orange backdrop, symbolizing BSNL's commitment to nationwide coverage and inclusivity.
• The new tagline, “Connecting Bharat,” reflects the company’s mission to bridge the digital divide between urban and rural areas.

India and Pakistan Extend Kartarpur Corridor Agreement Until 2029.

• The governments of India and Pakistan have agreed to extend the Kartarpur Corridor Agreement for an additional five years, now valid until October 24, 2029.
• This extension comes ahead of the original agreement's expiration on October 24, 2024 and follows discussions during External Affairs Minister Dr. S. Jaishankar’s visit to Pakistan for the 23rd Meeting of the Shanghai Cooperation Organization (SCO) Council of Heads of Government, held in Islamabad on October 15 and 16, 2024.
• This agreement marks the first direct talks between the foreign ministers of the two nations since Sushma Swaraj's visit in 2015 for the Heart of Asia Conference.

   What is the Kartarpur Corridor?

• The Kartarpur Corridor is a 4.1 km long route that connects Dera Baba Nanak in Gurdaspur district, Punjab to the Gurdwara Sri Kartarpur Sahib in the Narowal district of Pakistani Punjab.
• This corridor runs along the west bank of the Ravi River and serves as a significant pilgrimage site for Sikhs.
• It is where the founder of Sikhism, Guru Nanak Dev Ji, spent the last 18 years of his life, making it a sacred location for millions of devotees.

                    Banking and Financial

CCI Approves Aquilo House Acquisition of Aavas Financiers.

• The Competition Commission of India (CCI) has given the green light to Aquilo House Pte. Ltd. (AHPL) for its proposed acquisition of Aavas Financiers Limited (AFL).
• Aavas Financiers Limited, the acquiring entity, is a newly established company that is wholly and indirectly owned by relevant CVC Funds—a group of investment vehicles managed or advised by members of the CVC Network.
• The CVC Network, also known as the CVC Group, is a leading global alternative investment manager that specializes in private equity, credit, secondaries, and infrastructure.
• This group includes CVC Capital Partners plc. (CVC PLC) and its subsidiaries, with CVC PLC being publicly listed on the Euronext Amsterdam Stock Exchange.

IMF Maintains India's GDP Growth Forecast at 7% for FY25 and 6.5% for FY26.

• The International Monetary Fund (IMF) has reaffirmed its economic growth forecasts for India, projecting a 7% GDP growth for FY25 and 6.5% for FY26.
• This decision reflects the understanding that the pent-up demand from the pandemic has largely dissipated, as the economy realigns with its potential growth trajectory.
• In a recent review, the Reserve Bank of India (RBI) also maintained its growth estimate for the current fiscal year at 7.2%, attributing this stability to strong consumption and investment trends.

   Updated GDP Forecasts

• IMF: 7% (FY25), 6.5% (FY26)
• World Bank: 7% (FY25)
• Moody’s: 7.1% (CY24), 6.5% (CY25)
• Moody Ratings: 2% (CY24), 6.6% (CY25)
• Asian Development Bank (ADB): 7% (FY24), 7.2% (FY25)
• S&P: 6.8% (FY25), 6.9% (FY26), 7% (FY27)
• Goldman Sachs: 6.7% (CY24), 6.4% (CY25)
• State Bank of India (SBI): 7%

                       Appointments

RBI Approves Pranav Chawda as CEO of JPMorgan Chase Bank India.

• The Reserve Bank of India (RBI) has officially approved the appointment of Pranav Chawda as the new Chief Executive Officer (CEO) of JPMorgan Chase & Co.’s India operations for a three-year term.
• Chawda, who previously led the commercial banking division, will now also oversee the corporate banking sector following the resignation of former CEO Prabdev Singh, who stepped down before completing his term.
• Having joined JPMorgan in 2019, Chawda has significant experience in the banking industry, contributing to the growth and expansion of the commercial banking vertical.

  Recent Appointments in the Banking and Insurance Sector

• Chairperson of the Board of National Pension System (NPS) Trust: Chitra Jayasimha (succeeded Venkata Rao Yadagani)
• CEO of Acko Life Insurance: Sandip Goenka
• Managing Director & CEO of Bandhan Bank: Partha Pratim Sengupta (for a three-year term)
• Managing Director of Cholamandalam Investment and Finance Company: Ravindra Kumar Kunda
• Deputy Governor of RBI: M. Rajeshwar Rao (reappointed for one year)
• Executive Director of RBI: Aviral Jain

Himanshu Pathak Appointed as Director General of ICRISAT.

• Himanshu Pathak, currently the Secretary of the Department of Agricultural Research and Education (DARE) and Director General of the Indian Council of Agricultural Research (ICAR), has been appointed as the new Director General of the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT).
• This appointment marks a significant milestone as Pathak becomes the first Indian to assume this prestigious role, and only the second individual of Indian origin, following the legendary Dr. M.S. Swaminathan, to lead a research institute within the global CGIAR system.
• Dr. Swaminathan served as the Director General of the International Rice Research Institute (IRRI) in the Philippines from 1982 to 1988.
• The current Director General of ICRISAT is Dr. Jacqueline d’Arros Hughes.

    About the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT)

• Founded: 1972
• Headquarters: Hyderabad, Telangana
• Founders: M. S. Swaminathan, C. Fred Bentley, Ralph Cumming

Vietnam Appoints Army General Luong Cuong as New President Amid Political Turmoil.

• Vietnam has elected Luong Cuong, a military general, as its new president, marking a significant leadership change as he becomes the fourth official to hold this position in just 18 months.
• The National Assembly voted in favor of Cuong, 67, who takes over from To Lam, who had been serving as president while also being appointed as the general secretary of the ruling Communist Party in August.
• The general secretary is the most powerful role in Vietnam, while the presidency is largely considered a ceremonial position.
• Cuong has an extensive military background, having served in the Vietnamese army for over four decades, and has been a member of the Politburo since 2021.
• Vietnam's leadership will gather for the next Communist Party Congress in early 2026, where further political developments are anticipated.

  Other Recent Appointments in Global Leadership

• President of Indonesia: Prabowo Subianto
• President of Tunisia: Kais Saied (second term)
• President of Mexico: Claudia Sheinbaum (first woman president)
• Prime Minister of Japan: Shigeru Ishiba (succeeding Fumio Kishida)
• President of Sri Lanka: Anura Kumara Dissanayake (ninth president, succeeding Ranil Wickremesinghe)
• Prime Minister of Jordan: Jafar Hassan

Pam Kaur Makes History as HSBC's First Female CFO.

• The Hongkong and Shanghai Banking Corporation (HSBC) has made a groundbreaking appointment by naming Pam Kaur as its first female Chief Financial Officer (CFO).
• Kaur takes over from Georges Elhedery, who has been promoted to CEO of HSBC.
• At 60 years old, the Indian-born British citizen Pam Kaur joins an increasingly prominent group of women in top financial roles globally.
• Her appointment positions her alongside other notable female leaders in banking, including Sharon Yeshaya of Morgan Stanley, Mary Erdoes, Marianne Lake, and Jennifer Piepszak from JP Morgan, as well as Jane Fraser, CEO of Citi.

   About HSBC

• Founded in 1865 in Hong Kong, HSBC is a major British multinational bank that expanded its operations to India in 1959 by acquiring the Mercantile Bank of India.
• HSBC India operates as a registered foreign bank under the regulation of the Reserve Bank of India.
• Headquarters: London, UK
• CEO of HSBC India: Hitendra Dave
• Global CEO: Georges Elhedery
• Tagline: "The world’s local bank"

BOBCARD Appoints Shreyanka Patil as Brand Ambassador.

• BOBCARD Limited, a subsidiary of Bank of Baroda, has officially appointed cricketer Shreyanka Patil as its brand ambassador.
• In this role, Shreyanka will represent BOBCARD in upcoming marketing campaigns and initiatives, reinforcing the company's mission to "Reimagine Credit for Everyone in India."

   BOBCARD's Vision

• BOBCARD Limited aims to transform the credit card experience by providing innovative solutions that cater to the changing needs of consumers in the digital age.
• This strategic partnership with Shreyanka Patil aligns with their goal of enhancing brand visibility and promoting financial literacy.

   Recent Brand Ambassador Appointments

• Rashmika Mandanna – National Ambassador for Promoting Cyber Safety
• Rahul Dravid – Shriram Finance Ltd
• Manu Bhaker – Ministry of Ports, Shipping and Waterways (MoPSW)
• Alia Bhatt – French cosmetic maker L’Oreal Paris
• Salman Khan – GRM Basmati Rice
• Dinesh Karthik – SA20 League
• Shikhar Dhawan – MotoGP India

                            Awards

SAIL Wins SHRM HR Excellence Awards for Inclusion and Workforce Management.

• Steel Authority of India Limited (SAIL) has been recognized at the SHRM India Annual Conference 2024 held in New Delhi, receiving prestigious awards in two significant categories: ‘Excellence in Inclusion, Equity & Diversity’ and ‘Excellence in Managing the Distributed Workforce.’
• These awards highlight SAIL’s commitment to implementing innovative human resource practices across its various plants and units nationwide.
• By fostering an inclusive work environment that prioritizes equity and diversity, SAIL ensures the holistic growth of its workforce.
• The recognition emphasizes SAIL’s dedication to motivating and engaging employees, acknowledging their vital role in driving organizational success.
• This achievement further solidifies SAIL’s position as a leader in progressive workforce management within the steel industry.

                              Defence

India Launches Fourth Nuclear-Powered Submarine: INS S4.

• India has launched its fourth nuclear-powered ballistic missile submarine (SSBN), designated INS S4*, at the Ship Building Centre in Visakhapatnam.
• This submarine is larger and more advanced than its predecessor, INS Arihant (S2), which serves as a technology demonstrator developed under the Advanced Technology Vessel program.
• Currently, India operates two SSBNs. INS Arihant was commissioned in August 2016, featuring a displacement of 6,000 tonnes and powered by an 83 MW pressurized light-water reactor using enriched uranium.
• The second SSBN, INS Arighaat (S3), shares similar specifications with INS Arihant but includes several technological upgrades and was commissioned at the end of August.
• The third SSBN, INS Aridhman (S4), is presently undergoing sea trials and is anticipated to be commissioned next year.
• INS Arihant is equipped with a 750 km range K-15 Submarine-Launched Ballistic Missile (SLBM), while the newly launched INS S4* is armed with the more advanced 3,500 km range K-4 SLBM, which was first tested in 2020.
• The K-4 missile is poised to become a crucial component of India’s undersea nuclear deterrence strategy, allowing for the launch of nuclear weapons while submerged in Indian waters, until the development of a 5,000 km range SLBM is completed.

                           Sports

Charles Leclerc Secures Victory at the US Grand Prix for Ferrari.

• Ferrari's Charles Leclerc celebrated a thrilling victory at the United States Grand Prix, marking his third win of the 2024 Formula One season.
• Leclerc finished ahead of his teammate, Carlos Sainz, securing a one-two finish for Ferrari at the Circuit of the Americas in Austin, Texas.
• Leclerc crossed the finish line with a winning time of 1:35:09.639, finishing 8.562 seconds ahead of Sainz.
• This win adds to Leclerc's earlier successes this year, including victories at the Monaco Grand Prix and the Italian Grand Prix.

    Recent 2024 F1 Grand Prix Winners:

• US Grand Prix: Charles Leclerc (Ferrari, Monaco)
• Singapore Grand Prix: Lando Norris (McLaren, UK)
• Azerbaijan Grand Prix: Oscar Piastri (McLaren, Australia)
• Italian Grand Prix: Charles Leclerc (Ferrari, Monaco)
• Dutch Grand Prix: Lando Norris (McLaren, UK)
• Hungarian Grand Prix (F2): Kush Maini (India)
• Belgian Grand Prix: Lewis Hamilton (Mercedes, UK)
• British Grand Prix: Lewis Hamilton (Mercedes, UK)
• Austrian Grand Prix: George Russell (Mercedes, UK)
• Spanish Grand Prix: Max Verstappen (Red Bull, Netherlands)
• Canadian Grand Prix: Max Verstappen (Red Bull, Netherlands)
• Monaco Grand Prix: Charles Leclerc (Ferrari, Monaco)
• Emilia Romagna Grand Prix: Max Verstappen (Red Bull, Netherlands)
• Miami Grand Prix: Lando Norris (McLaren, UK)
• Chinese Grand Prix: Max Verstappen (Red Bull, Netherlands)
• Japanese Grand Prix: Max Verstappen (Red Bull, Netherlands)
• Australian Grand Prix: Carlos Sainz (Ferrari, Spain)
• Saudi Arabian Grand Prix: Max Verstappen (Red Bull, Netherlands)
• Bahrain Grand Prix: Max Verstappen (Red Bull, Netherlands)