Daily Current Affairs and GK | 13 November 2024

Topic: Banking System

1. In the first half of 2024–2025, Public Sector Banks (PSBs) had shown a growth of 11% year over year.

• The aggregate business of Public Sector Banks was 236.04 lakh crore rupees.
• According to the Finance Ministry, significant banking reforms have been implemented in recent years.
• These include the adoption of the Insolvency and Bankruptcy Code (IBC), the implementation of Enhance Access and Service Excellence (EASE), and the establishment of a strong governance framework.
• Year over year, the worldwide credit portfolio increased by 12.9%, while the deposit portfolio increased by 9.5%.
• Additionally, PSBs have made great strides in implementing cutting-edge technology like blockchain, AI, and the cloud.

Topic: Defence

2. DRDO carried out the maiden flight test of the Long Range Land Attack Cruise Missile (LRLACM).

• The test has been carried out from the Integrated Test Range, Chandipur, off the coast of Odisha, from a mobile articulated launcher.
• LRLACM has been developed by DRDO’s Aeronautical Development Establishment (ADE) in Bengaluru.
• Other DRDO laboratories and Indian industries have also contributed to its development.
• Bharat Dynamics Limited (BDL) in Hyderabad and Bharat Electronics Limited (BEL) in Bengaluru served as the Development-Cum-Production Partners.
• The missile can be launched from mobile ground-based platforms using a mobile articulated launcher.
• It can also be launched from frontline ships via a universal vertical launch module system.
• This is a new variant of the Nirbhay LRLACM.
• The procurement of the LRLACM of more than 1,000 km range in July 2020 has been approved by the Defence Acquisition Council.

Topic: Indian Economy

3. India’s retail inflation reached a 14-month high in October.

• India's retail inflation reached a 14-month high in October due to a sharp rise in vegetable prices.
• Annual retail inflation reached 6.21% in October, which is more than the tolerance band of 2%-6% for the first time in over a year.
• The October retail inflation rate was also higher than the 5.81% forecasted by economists.
• Rising food prices have decreased the purchasing power of middle-income households.
• The RBI has projected GDP growth of 7.2% for the financial year 2024-25.

Topic: National News

4. Government approved the first ever women battalion for CISF.

• The Ministry of Home Affairs (MHA) has approved the establishment of the first all-women battalion of the Central Industrial Security Force (CISF).
• The main of this decision is to empower women and enhance their role in national security.
• The first women's battalion for CISF will have more than 1,000 personnel.
• This step has been taken due to increasing demands on the force, particularly in VIP security, airports, and other critical installations.
• This new women's battalion is named as a "reserve battalion”. It will be formed from the existing workforce of approximately 2,00,000 CISF personnel.
• It will be led by a senior officer holding the rank of commandant.
• Currently, women comprise more than 7% of the CISF's total strength of around 1,80,000.

Topic: Summits/ Conferences/ Meetings

5. 16th India Game Developer Conference started in Hyderabad.

• The 16th edition of the India Game Developer Conference (IGDC) begins in Hyderabad.
• This conference will attract about 20 thousand attendees.
• It is organized by the Game Developer Association of India (GDAI).
• The conference will have over 150 sessions with more than 250 speakers.
• Industry icons like Jordan Weisman, creator of BattleTech, MechWarrior, and Shadowrun, and Tim Morten, known for StarCraft II and Stormgate, will participate in this event.
• The latest trends, challenges, and innovations that are shaping the future of gaming will be part of the 16th India Game Developer Conference.
• The IGDC ranked among the top three video gaming conferences worldwide.
• The India Game Developer Conference (IGDC) has become a vital platform for creating policies and infrastructure to advance India’s video game industry.

Topic: State News/Bihar

6. PM Modi launched AIIMS Darbhanga worth more than Rs 1,260 crore and other projects in Bihar.

• PM Modi laid the foundation stone of many development projects worth Rs 12,100 crore in Bihar.
• He laid the foundation stone of many National Highway projects worth around Rs 5,070 crore in Bihar.
• He laid the foundation stone of the Sonenagar Bypass Railway line from Chiralapothu to Bagha Bishunpur in the Aurangabad district of Bihar.
• He dedicated to the nation several railway projects worth over Rs 1,520 crore.
• He flagged off train services in the Jhanjharpur-Laukaha Bazar section.
• He also laid the foundation stone of multiple initiatives in the petroleum and natural gas sector worth over Rs 4,020 crore.
• AIIMS, Darbhanga will be the second All India Institute of Medical Sciences in Bihar, after Patna.

Topic: International News

7. Alix Didier Fils-Aime took oath as Prime Minister of Haiti.

• Haiti has been facing humanitarian and security crises, which has been exacerbated by growing gang violence.
• Gang violence led to killing or injury of about 2,500 people during the first three months of 2024.
• Aime’s predecessor was Garry Conille. Garry Conille served twice as Prime Minister.
• Garry Conille was dismissed by the Transitional Presidential Council.
• This council was set up in April. It was given the task of selecting new political leaders and organising elections in Haiti.
• Haiti is a Caribbean nation. Its capital and largest city is Port-au-Prince. Gourde is its currency.

Topic: Books and Authors

8. A book titled ‘Maa-Mother’ has been released by Union Law and Justice Minister Arjun Ram Meghwal in New Delhi.

• The book has been released in the presence of Kerala Governor, Arif Mohammed Khan and West Bengal Governor Dr C.V Anand Bose.
• Dr Davendra Kumar Dhodawat, Additional Secretary to the Governor of Kerala is the author of the book.
• The book contains an illustration of motherhood as poems written in Hindi and English.
• It explores the untold story of the love and affection of mothers.

Topic: Reports and Indices/Rankings

9. India ranked among global top 10 for patents, trademarks and designs.

• In the World Intellectual Property Indicators 2024 report, India has ranked among the global top 10 countries in patents, trademarks and industrial designs.
• The report reveals significant growth in patent, trademark and industrial design applications in the top economies.
• India is consolidating its position as a global leader in the intellectual property and IP landscape, making substantial progress and setting new milestones in IP activity.
• India ranks sixth globally for patents with 64,480 applications, with more than half of the total submissions filed locally.
• In 2023, the patent office granted 149.4% more patents than the previous year, underlining the country's rapidly evolving IP ecosystem.
• The report indicates a steady growth of 36.4% in India's industrial design applications, in line with the increasing emphasis on product design, manufacturing and creative industries in India.
• The top three sectors – Textiles and Accessories, Tools and Machines, and Health and Cosmetics – account for nearly half of all design filings.

Topic: Infrastructure and Energy

10. India's renewable energy capacity increased by 13.5% to 203 gigawatts since October 2023.

• India's total renewable energy capacity grew by 13.5%, or 24.2 gigawatts, in a year to reach 203.18 gigawatts in October 2024, from 178.98 gigawatts in October 2023.
• A statement issued by the Ministry of New and Renewable Energy said that this increase is in line with India's ambitious targets in the renewable energy sector.
• It said total non-fossil fuel capacity, including nuclear power, increased to 211.36 GW in 2024, from 186.46 GW in 2023.
• The solar sector witnessed a significant increase of 20.1 GW (27.9 per cent), from 72.02 GW in October 2023 to 92.12 GW in October 2024.
• The combined total solar capacity, including under-implementation and tendered projects, now stands at 250.57 GW, a significant increase from last year's 166.49 GW.
• The total capacity in the pipeline for wind power projects has now reached 72.35 GW.
• India added 12.6 GW of renewable energy capacity from April to October 2024.
• 1.72 GW was installed in October 2024 alone, reflecting an accelerated shift towards renewable energy.

Topic: Important Days

11. Public Service Broadcasting Day 2024: 12 November

• Public Service Broadcasting Day is observed on 12 November.
• It is celebrated every year to commemorate Mahatma Gandhi’s only visit to the studio of All India Radio, Delhi in 1947.
• He addressed the displaced people, who had temporarily settled at Kurukshetra in Haryana after partition.
• Mahatma Gandhi was scheduled to travel to Kurukshetra on November 12, 1947 and address the 2.5 lakh Indian refugees who were camped there.
• But because of certain unforeseen circumstances, he was unable to travel to Kurukskhetra.
• So, an arrangement was made for Gandhiji’s live broadcast from All India Radio for them.
• All India Radio (AIR) came into existence in 1936, evolving out of the Indian State Broadcasting Service. AIR acquired the name AKASHVANI in 1956.

Topic: Summit/Conference/Meeting

12. Coast Guards of India and Sri Lanka held the 7th Annual High-Level Meeting in Colombo on November 11.

• This meeting was organized to combat international maritime crimes and promote regional cooperation.
• A four-member ICG delegation led by Director General DG S Paramesh and SLCG delegation led by Director General Rear Admiral YR Serasinghe attended the meeting.
• The meeting underscored the shared commitment of both Coast Guards to address maritime challenges, as well as focus on a range of contemporary regional maritime issues.
• This includes drug trafficking, marine pollution, safety of seafarers, adoption of best practices, capacity building programmes and other collaborative arrangements.
• The resulting meeting emphasized enhancing mutual cooperation in addressing these challenges, thereby strengthening the maritime safety and security architecture in the region.
• This annual meeting follows the institutional mechanism outlined in the Memorandum of Understanding signed between the two maritime agencies in May 2018.
• In 2025, the 8th edition of the meeting will be hosted by the ICG.

Topic: Summits/ Conferences/ Meetings

13. 25th South Asian Telecommunication Regulators Council (SATRC) conference held in New Delhi.

• The 25th South Asian Telecommunication Regulators Council (SATRC) conference was started on November 12.
• It was a two-day conference to discuss and develop new regulatory ideas and strategies for the telecommunications sector.
• It brings together regulators from across South Asia on one platform.
• Its main aim is to provide a platform for regulators from telecom service providers, internet service providers, satellite service providers, and consumers.
• Its main aim is to collaborate on shaping a unified regulatory agenda.
• This conference will come up with a new agenda for the next two years.
• It was organized by the Asia-Pacific Telecommunity (APT) and was hosted by the Telecom Regulatory Authority of India (TRAI).

Topic: Indian Economy

14. ​By November 10, net direct tax collection has increased by 15.4% to ₹12.1 lakh crore.

• From April 1 to November 10, the Union government collected ₹12.1 lakh crore rupees in net direct taxes. This is an increase of 15.4% year over year.
• Direct taxes increased by more than 21% on a gross basis to ₹15 lakh crore in the same time. Personal and corporate taxes are included in direct taxes.
• Income Tax Department had issued tax refunds of ₹2.9 lakh crore.
• A healthy tax collection rate aids the government in reaching its annual fiscal deficit target.
• According to the July Budget, the Centre is targeting a fiscal deficit of 4.9% for FY25.
• Direct taxes are imposed on an individual's earnings or profits.
• They are directly paid by an individual or company to the government without any intermediaries.