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Current Affairs 29 November 2023
1.The 42nd India International Trade Fair concluded in New Delhi
- 10 lakh domestic and foreign visitors and business persons participated
in this 14-day fair. The theme of the fair this year was based on Vasudhaiva Kutumbakam. - Bihar and Kerala were the partner states of the fair and Delhi, Jammu and Kashmir, Jharkhand, Maharashtra, and Uttar Pradesh were the focus states. At the closing ceremony, many awards were conferred to several pavilions and states in different categories.
2. Ministry of Education asks States to encourage use of online coaching platform SATHEE
- SATHEE is an open learning platform available to students at no cost. It
has launched a 45-day crash course for aspirants to test their level of preparation. The platform hosts live and recorded lectures, expertly designed curriculum and doubt-clearing sessions for students to brush up their knowledge. - Pan India mock tests are conducted every weekend on SATHEE, with the same look and feel adopted by the National Testing Agency (NTA) for conducting the JEE.The time taken by an aspiring student to solve a question will be compared with that taken by an IIT-Kanpur student, and similar mappings will be done.
3. Centre renames Ayushman Bharat Health and Wellness Centres as Ayushman Arogya Mandir
- The Ayushman Bharat-Health and Wellness Centres now will be known
as “Ayushman Arogya Mandir”, the Union health ministry has decided. It has sent a letter to the states and Union Territories to implement the rebranding exercise. - The states have also been asked to upload photographs of rebranded primary health facilitieson the Ayushman Bharat-Health and Wellness Centres (AB-HWC) portal. It was decided the Centre would provide 60% of the funding and, in turn, states would follow its design manual.
4. State Bank of India’s Stake in Jio Payments Bank Drops to 23% in FY23
- State Bank of India's (SBI) shareholding in Jio Payments Bank fell to 23%
in FY23 from the 30% that it has maintained since inception, indicating its disinterest in the payments bank business model. The fall below 25% also means SBI will no longer be able to block special resolutions at its seven-year-old joint venture (JV). - India's largest bank stayed away from two Jio Payments Bank rights issues, while its JV partner Reliance Industries (RIL) picked up 10 million shares on 29 November, and 70 million on 23 January, according to a directors' note in the payment bank's regulatory filing seen by Mint.
Foot Note:
About SBI :
Established : 1 July 1955
Headquarters : Mumbai
Chairman : Dinesh Kumar Khara
CFO : Kameshwar Rao Kodavanti
5. Axis Bank Concentrates on Establishing a Completely Digital Bank Through Mobile App ‘Axis Open’ with Minimal Human Assistance
- Axis Bank is actively working towards establishing a fully digital bank,
emphasizing the role of its mobile application “Axis Open.“ - The bank aims to eliminate the need for human assistance in its digital banking operations, emphasizing a seamless and automated customer experience. The decision to focus on building a digital bank is driven by the prospect of higher yields and improved fee income.
Foot Note:
About Axis Bank :
Established : 3 December 1993
Headquarters: Mumbai
MD & CEO: Amitabh Chaudhry
Tagline : Badhti Ka Naam Zindagi
6. Razorpay Introduces ‘Returnship’ Program to Facilitate Women Rejoining the Workforce After Career Break
- Fintech unicorn Razorpay has rolled out a ‘returnship’ programme for
female professionals on a break who are looking to return to the workforce. The programme is being offered to women who have taken a break of two or more years. According to the company, more over 1,300 have applied for it so far. - Last month, the Bengaluru-based company launched ‘Resume with Razorpay’, under which it provides a six-month internship to female professionals to facilitate their return to work.
Foot Note:
About Razorpay :
Established : 2014
Headquarters : Bangalore, Karnataka
Co Founder & CEO : CEO: Harshil Mathur
Co Founder & Managing Director : Shashank Kumar
7. OneWeb India Secures Approval to Transform Satellite Broadband Connectivity Landscape in India
- OneWeb India has received the required approvals from IN-SPACe to
launch Eutelsat OneWeb’s commercial satellite broadband services in India, marking a significant milestone as the first organization granted such authorization. - IN-SPACe, the Government of India’s agency overseeing space activities, is responsible for regulating and granting authorization for space-related endeavors in the country.The approval means that Eutelsat OneWeb can initiate commercial connectivity services upon the allocation of spectrum by the government.
8. Lenovo Introduces PCs with PMA-Compliant Specifications Featuring Locally Manufactured Motherboards in India, Expands Manufacturing Operations
- Lenovo, India’s second-largest PC manufacturer, launched PMA-
compliant (Government of India’s Preferential Market Access Policy) PCs with its Made-in-India motherboard. This marks a significant milestone in strengthening and expanding Lenovo’s manufacturing footprint in India Saurabh Agrawal, Chief Operating Officer, Lenovo India. - Lenovo’s announcement comes close on the heels of the unveiling of Lenovo’s Shared Support Center in Bengaluru in August this year, with a planned investment to advance local R&D and job creation in India.
9. NSE, West Bengal government sign an MoU to facilitate fundraising for SMEs
- Under the MoU, signed on the sidelines of the Bengal Global Business
Summit, NSE with state government support will conduct awareness drive through seminars, MSME camps, knowledge sessions, road shows, and workshops to guide enterprises across the state for fundraising on the NSE Emerge platform and handhold companies in the listing process. - The National Stock Exchange (NSE) announced signing a memorandum of understanding (MoU) with the Government of West Bengal to spread awareness among MSMEs in the state regarding fundraising via the IPO mechanism using NSE Emerge, the SME platform of NSE.
Foot Note:
About NSE:
Founded: 1992
Headquarter: Mumbai
Chairperson : Girish Chandr Chaturvedi
MD & CEO: Ashishkumar Chauhan
10. Standard and Poors Global predicts India’s economic growth at 6.4 per cent for fiscal year 2024-25
- India’s economic growth is likely to rise at 6.4 percent for fiscal year
2024-25, according to Standard & Poors (S&P) Global. However, the agency cautioned that high food inflation and weak exports can cast a shadow on growth in the years ahead. - In its Economic Outlook for Asia Pacific, it growth this year and the next is on track to be the strongest in emerging market economies with higher domestic demand.This projection is in line with many agencies, though lower than the government and RBI projection of 6.5 percent.
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