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Monthly Current Affair GK Digest: November 2023

Published on Tuesday, December 05, 2023

Monthly Current Affair GK Digest: November 2023

International News

6th session of the International Solar Alliance Assembly

  • The International Solar Alliance is committed to making solar the energy source of choice and fostering environments conducive to attracting investments.
  • It aims to ensure ample energy availability to meet the surging global demands.
  • This is indeed a significant step towards a sustainable and renewable future.

Three Indian-assisted development projects were jointly inaugurated by Prime Ministers of India and Bangladesh

  • The three projects are: Akhaura - Agartala Cross-Border Rail Link, Khulna - Mongla Port Rail Line, Unit – II of the Maitree Super Thermal Power Plant:
  • The length of the rail link is 12.24 km with a 6.78 km Dual Gauge rail line in Bangladesh and 5.46 km in Tripura, Mongla, the second largest port of Bangladesh, gets connected with the broad-gauge railway network.

National News

Uttar Pradesh Drone Prachalan Suraksha Niti-2023 has been approved

  • This policy aims to regulate and monitor the usage of drones in the state, as well as to prevent their potential misuse for illegal or anti-national activities.

  • The policy also lays down the guidelines for the operation, maintenance, security, and disposal of drones.

SEBI Unveils New Format for SID of AMC

  • The revamped format aims to streamline the dissemination of relevant information to investors, facilitate the periodic updation of the SID by mutual funds.
  • The decision to revamp the SID format was based on the suggestions of the industry body AMFI and the recommendations of SEBI’s Mutual Fund Advisory Committee.
  • Under the new provisions, the scheme’s portfolio holdings – top 10 holdings by the issuer and fund allocation toward various sectors – will be disclosed by way of a functional web link where such data will be hosted.

Banking

CCI Approved Investment by IBEF-IV of MO Alternates in SK Finance

  • India Business Excellence Fund – IV (Acquirer) is a Category II Alternative Investment Fund registered with the Securities and Exchange Board of India.
  • It primarily invests in equity and equity-linked instruments and/or debt and/or mezzanine or other instruments of Indian or India-related companies.
  • SK Finance Limited (Target) is a non-banking finance company registered with the Reserve Bank of India as a Non-Banking Non-Deposit Taking Systemically Important Asset Finance Company engaged in the business of providing financing for vehicles (new and used) and loans to Micro Small and Medium Enterprises.

Manoranjan Mishra has been appointed as Executive Director by RBI

  • His appointment is effective from November 1, 2023.
  • He has served as a member in several working groups at the national and international levels, contributing to the formulation of regulatory/supervisory policies.
  • Mishra has experience of over three decades in the RBI, having worked in the areas of regulation of banks and NBFCs, supervision of banks, and currency management.

GST collections increased to ₹1.72 lakh cr in October

  • This shows a remarkable year-on-year growth of 13%3.
  • The gross GST revenue for October 2023 was composed of Rs.30,062 crore in CGST, Rs.38,171 crore in SGST, Rs. 91,315 crore in IGST (including Rs.42,127 crore from imported goods), and Rs. 12,456 crore in cess (including Rs.1,294 crore from imported goods).
  • After the customary settlement, the total revenue for the Centre and the States in October 2023 stood at Rs.72,934 crore for CGST and Rs. 74,785 crore for SGST.
  • The average monthly gross GST collection for the fiscal year 2023-24 now stands at Rs.1.66 lakh crore, marking an 11% rise from the same period in the previous fiscal year.
  • This robust GST collection highlights the underlying resilience of the Indian economy.

RBI has prescribed norms for the closure of DCCB branches

  • The decision to close a branch should be taken by the Board of the bank.
  • When a DCCB decides to close a branch, they are required to return the original license or licenses issued for that particular branch to the Regional Office of the RBI that is concerned with their operations.
  • To ensure transparency and minimize inconvenience to depositors and clients, DCCBs must provide a two-month notice in advance of the branch closure.
  • This decision should be based on a thorough evaluation of various relevant factors and the entire process should be properly recorded and minuted during the Board meeting.

State Bank of India (SBI) and M&M Financial Services have signed a co-lending agreement

  • This is Mahindra Finance’s first co-lending tie-up with a bank.
  • The pact will harness the distribution strength of Mahindra Finance and the cost-efficient capital of SBI, ensuring wider outreach and better interest rates for customers, which will be determined based on the customer’s credit profile.
  • This will help unlock the potential of priority sector lending and ensure a “personalised and competitive financing experience”.
  • The objective is to extend joint financial support to customers thereby enabling credit to the unserved segments of the economy at an affordable cost.
  • Under this agreement, the NBFC will facilitate leads and manage loan servicing while serving as a single point of contact for prospective customers.


This digest is not complete. Read the complete digest on the General Awareness Course.

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