Current Affairs One - Liner : 29th November 2024

• National:
• The UGC approved guidelines for flexible-duration degrees on November 13, 2024. These include Accelerated Degree Programs (ADPs) and Extended Degree Programs (EDPs), allowing students to complete degrees earlier or extend them beyond the standard duration. These degrees are equivalent to standard-duration degrees for employment and academic purposes.

• International:
• India and the International Solar Alliance (ISA) signed an agreement on November 26, 2024, to implement solar projects in the Pacific Islands. These projects aim to enhance energy access and support clean energy transitions in Comoros, Fiji, Madagascar, and Seychelles.
• Banking:
• J&K Bank launched a Virtual ATM Facility (vATM) with Paymart India Pvt. Ltd. on November 22, 2024. Customers can withdraw cash through enrolled merchants using digital tokens from the bank's mobile app, mPay Delight+. This aims to enhance digital convenience, especially in rural areas.
• By 2030, the Indian pharmaceutical sector is projected to grow 58%, reaching a value of $130 billion. This reflects the industry's strong performance and increasing global demand for affordable, high-quality medicines from India.
• HDFC Bank launched the Pragati Savings Account on November 27, 2024. This account caters to semi-urban and rural populations, including farmers and self-employed individuals.
• The Government of India and the Asian Development Bank (ADB) signed a $98 million loan agreement on November 29, 2024. This loan aims to promote plant health management in India's horticulture sector, providing farmers with access to certified disease-free planting materials to enhance crop yields, quality, and resilience to climate change.
• Economy:
• After record production levels in FY 2023-24, India's production of key minerals has expanded robustly in the first half of FY 2024-25 (April–October). Iron ore production increased by 4.1% to 158.4 million metric tonnes (MMT), manganese ore by 11.1% to 2.0 MMT, and bauxite by 11.3% to 13.8 MMT.
• Goldman Sachs has projected that India's GDP growth will slow to 6.3% in 2025. This is attributed to ongoing fiscal consolidation and slower credit growth. Despite this, India's long-term growth prospects remain positive due to favorable demographics and stable governance.
• MoUs:
• Steel Authority of India Limited (SAIL) and John Cockerill India signed a Memorandum of Understanding (MoU) on November 28, 2024, in Mumbai. The aim is to leverage their combined expertise to drive innovation and green steel technologies, focusing on cold rolling and processing for carbon steel, green steel, and silicon steel, while integrating sustainable practices into steelmaking processes.
• Govt.Schemes:
• Kerala launched the Cattle Insurance Scheme on November 29, 2024. The scheme covers the entire cattle population, supports the dairy sector, and provides welfare for farmers. The government allocated ₹22 crore for calf maintenance and offers ₹37,500 per cow in case of death due to extreme heat.
• Summits & Conferences:
• The 13th United Nations GGIM Asia-Pacific Plenary and Regional Conference is being hosted by India from November 26 to November 29, 2024, at Bharat Mandapam, New Delhi. Organized by the Survey of India (SOI), the conference is chaired by Dr. Jitendra Singh. The theme is "Geo-enabling the Data Economy for Sustainable Development", focusing on geospatial data's role in sustainable development and the digital economy.
• Sports:
• George Russell won the Las Vegas Grand Prix 2024 on November 24, 2024, at the Las Vegas Strip Circuit in Nevada, USA. This victory is part of the Formula 1 racing event.
• Military Exercises:
• The Indian Coast Guard (ICG) SAREX-24, the largest-ever National Maritime Search and Rescue Exercise, took place in Kochi, Kerala, from November 28th to 29th, 2024. The exercise involved agencies like the Indian Navy, Air Force, and foreign delegates from 28 countries. It aimed to enhance search and rescue capabilities through regional collaboration and simulated real-life emergency scenarios.
• Defence:
• China's J-35A stealth fighter jet was unveiled at the 2024 Zhuhai Airshow on November 18, 2024. This makes China the second country, after the U.S., to have two fifth-generation fighters. The J-35A is designed for both air superiority and ground attack missions.
• India and Russia agreed to expand their joint military exercises. This decision was made during the India-Russia Working Group on Military Cooperation meeting in Moscow on November 28, 2024. The agreement aims to enhance operational synergy and address evolving security challenges.
• India successfully tested the K-4 submarine-launched nuclear missile from the INS Arighaat on November 27, 2024. This missile has a strike range of 3,500 kilometers and enhances India's nuclear deterrence capabilities. The test was conducted in the Bay of Bengal.
• Important Days:
• The International Day of Solidarity with the Palestinian People 2024 is observed on November 29. The theme is "Together for Justice", emphasizing unity and collective efforts to support the rights and self-determination of the Palestinian people.
• The first-ever UN’s World Conjoined Twins Day was observed on November 24, 2024. The theme was "Advancing Inclusion and Well-being". The day aims to raise awareness about conjoined twins, support their well-being, and promote social inclusion.
• World Heritage Week 2024 was celebrated from November 19 to November 25. The theme was "Discover and Experience Diversity", promoting the appreciation of diverse cultural and historical landmarks. Recognized by UNESCO, the week encourages preservation of global heritage sites.
• Appointments:
• Nand Kishore was appointed as the MD & CEO of SBI Funds Management Limited on November 28, 2024. He succeeds Shamsher Singh and brings over 34 years of experience from the State Bank of India (SBI).
• Gintautas Paluckas was appointed as the Prime Minister of Lithuania on November 21, 2024. He was nominated by President Gitanas Nausėda and confirmed by the Seimas. Paluckas, a Social Democrat, has 15 days to form his Cabinet and present his government's program to the Seimas.
• Masato Kanda was elected as the 11th president of the Asian Development Bank (ADB) on November 28, 2024. He will take office on February 24, 2025, succeeding Masatsugu Asakawa. Kanda is a Special Advisor to Japan's Prime Minister and Minister of Finance.
• Raj Kumar Chaudhary, Chairman and Managing Director of NHPC Limited, received the additional charge as CMD of SJVN Limited on November 28, 2024. This appointment highlights his extensive experience in the power and hydropower sectors.
• Awards & Honours:
• Marijke Fleuren was honored with the FIH Honorary Member Award on November 15, 2024, during the 49th FIH Statutory Congress in Muscat. This award recognizes her exceptional contributions to hockey, including her work on gender equality, diversity, and inclusion.
• Books:
• Kushal Pal Singh and Aparna Jain released their new book, "Why the Heck Not?", on November 14, 2024. The book combines life lessons, leadership insights, and stories from Singh's transformative journey in India's real estate sector.
• Obituaries:
• John Tinniswood, the world's oldest man, passed away on November 25, 2024, at the age of 112. Born in Liverpool in 1912, he lived through both World Wars and was a dedicated Liverpool F.C. fan.
• Renowned economic historian Amiya Kumar Bagchi passed away on November 28, 2024. He was known for his pioneering work on underdevelopment and imperialism.

Questions:

1 Who was elected as the 11th president of the Asian Development Bank (ADB) on November 28, 2024?

• A) Masato Kanda
• B) Masatsugu Asakawa
• C) Haruhiko Kuroda
• D) Takehiko Nakao

Answer: A) Masato Kanda, Special Advisor to Japan's Prime Minister and Minister of Finance, was elected as the 11th president of ADB, succeeding Masatsugu Asakawa.

2 What is the main objective of the $98 million loan agreement signed between the Government of India and the ADB?

• A) To build new agricultural infrastructures
• B) To promote plant health management in India's horticulture sector
• C) To support rural education programs
• D) To enhance irrigation systems

Answer: B) The primary aim of the loan is to promote plant health management, providing farmers with access to certified disease-free planting materials.