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Current Affairs 06 November 2023
1.India’s first 50-year bond fully sold on growing insurer demand
- India’s auction of the debut 50-year bond met with strong
demand, underscoring growing interest from insurance and pension funds for ultra-long papers. Insurers probably lapped up the paper as they had expressed strong interest before the auction to lock in higher yields to take care of long-term commitments. - The government sold 100 billion rupees ($1.2 billion) of the 2073 bond as planned at a cutoff yield of 7.46%, the Reserve Bank of India said in a statement. That’s lower than the 7.48% forecast in a Bloomberg survey.
2.NMC Will Launch Its One Nation, One Registration Platform For Doctors Across India
- The medical practitioners’ details will be open for public
viewing on the NMC website, which will help maintain transparency about their credentials and prevent duplication With an aim to transform medical education in India, the National Medical Commission (NMC) is all set to launch the ‘one nation one registration platform’ called the National Medical Register (NMR). - The medical education regulator has plans to start a pilot project on the NMR within the next six months when doctors will be provided a Unique Identification Number (UID) by 2024-end/ 2025, following which they can also apply for licence to work in multiple states.
3. Bangladesh to Construct Memorial Honouring Indian Heroes of 1971 War
- A memorial to honor the Indian soldiers who sacrificed their
lives in the Liberation War of Bangladesh in 1971 at Ashuganj in Bangladesh is in the advanced stages of completion. This will be the first memorial in Bangladesh to exclusively honour Indian soldiers from the 1971 war. - The foundation stone for the memorial at Ashuganj, Brahmanbaria was laid by Prime Minister Shri Narendra Modi and Bangladesh Prime Minister Sheikh Hasina in March 2021.
Foot Note:
About Bangladesh :
Capital : Dhaka
Currency : Taka
President : Mohammed Shahabuddin
Prime Minister : Sheikh Hasina
4. Odisha Chief Minister Naveen Patnaik Introduces Affordable Bus Service in Gajapati District
- Odisha Chief Minister (CM) Shri Naveen Patnaik launched the
affordable bus service under the Location Accessible Multimodal Initiative (LAccMI) scheme in the tribal-dominated Malkangiri district. - Alongside the LAccMI scheme, the Chief Minister also inaugurated projects with a total worth of Rs 793 crore for the Malkangiri district.These projects are aimed at enhancing infrastructure and services in the region.
Foot Note:
About Odisha :
Capital : Bhubaneswar
Governor : Raghubar Das
Chief Minister : Naveen Patnaik
5. RBI Permits District Central Cooperative Banks (DCCBs) to Close Branches Without Prior Notice to the Central Bank
- The RBI said District Central Co-operative Banks are allowed
to close their un-remunerative branches without prior permission of the central bank, though a nod will be needed from the Registrar of Cooperative Societies of the respective state. - The decision to close down branches should be taken by the Board after taking into account all the relevant factors and should be properly recorded/minuted in the proceedings of the Board meeting, the Reserve Bank of India said in a circular.
Foot Note:
About RBI :
Established : 1 April 1935
Headquarters : Mumbai
Governor : Shaktikanta Das
6. Mahindra Finance Collaborates with State Bank of India for Co-Lending Partnership
- 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 lenders said in a joint release, adding that the partnership reflects both entities commitment to empowering the MSME sector.
Foot Note:
About Mahindra & Mahindra Financial Services Limited (MMFSL) :
Founded : 1991
Headquarters : Mumbai
7. HSBC introduces e-Bank Guarantees to digitise trade finance
- The Hongkong and Shanghai Banking Corporation Limited,
India (HSBC India) has introduced Electronic Bank Guarantee (E-BG) services to facilitate digitization of trade finance. - HSBC is the first foreign bank in the country to offer this facility which is made possible through a collaboration with National E-Governance Services Limited (NeSL), a digital solutions provider.
Foot Note:
About HSBC India :
Established : 1853
Headquarters : Mumbai
CEO : Hitendra Dave
8. EscrowPay Achieves India’s First IFSCA Digital Escrow Authorization
- EscrowPay, a digital escrow platform, has received the first
digital escrow regulatory fintech authorization from the International Financial Services Centres Authority (IFSCA) in Gujarat International Finance Tec-City (Gift City), Gandhinagar, Gujarat marking a major milestone in its commitment to compliance and innovation in digital payments. - The digital escrow regulatory authorisation is a testament to Escrowpay’s dedication to providing secure and efficient financial solutions to 70 million Small & Medium Enterprises (SMEs) in India.
Foot Note:
About Escrow Pay :
Founded : 2015
Headquarters : Gurugram, Haryana
Managing Director : Ashwin Chawwla
9. Sweden’s Saab secures India’s first 100% FDI in defence project
- Sweden's Saab has reportedly become the first foreign
company that has bagged 100% FDI in India's defence projects. According to a report by the Economic Times, Sweden's Saab will set up a new facility in the country that will manufacture shoulder-fired rockets. - Citing sources, the English daily added that the ₹500 crore FDI proposal was cleared last month. Mint could not independently verify the report.
Foot Note:
About Saab :
Founded : 1937
Headquarters : Stockholm, Sweden
Chairman : Marcus Wallenberg
President & CEO : Micael Johansson
10. 10-year-old Bangalore kid wins prestigious ‘Wildlife Photographer of the Year’ award
- A 10 year-old-Bangalore kid, Vihaan Talya Vikas, won the
Wildlife Photographer of the Year (WPY) competition in the under-10 category. - Vihaan’s photograph captured a spider in an intriguing position with a sculpture of Lord Krishna, nestled on the outskirts of Banglore. This photograph has been selected among the 50,000 entries from 95 countries.
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