Current Affairs 22nd November

 

National Affairs

1. Finance Ministry Notified 7 Changes in Senior Citizens Savings Scheme Rules

On seventh November 2023, Branch of Monetary Affairs(DEA), under the Service of Finance, announced 7 changes in Senior Residents Reserve funds Scheme(SCSS), a government sponsored investment funds instrument for people matured 60 years or representatives matured 55 years or more however under 60 years.

 

Central issues:

 

The public authority has given 3 months to put resources into SCSS for people matured over 55 however under 60.

 

As indicated by the amended principles, the record holder can keep on broadening the record for ‘n’ number of blocks – the block being of 3 years each.

2. MoSJE Unveils Financial Incentive for Empowering Divyang Individuals

Rajesh Aggarwal, Secretary, Division of Strengthening of People with Disabilities(DEPwD), under the Service of Civil rights and Strengthening (MoSJE), has declared a 1% financing cost refund for divyang (People with Incapacities PwDs) who get monetary help through the Public Divyangjan Money and Advancement Enterprise (NFDC).

 

This plans to advance monetary incorporation and encourage financial strengthening among the divyangjan.

 

Central issues:

 

This refund under NFDC credit is for opportune reimbursement, and dependent upon explicit terms and conditions.

 

This drive features the Focal’s Government will probably make monetary help more available and reasonable for PwDs, and inspire and engage each part of society.

 

It will likewise lessen the monetary weight on divyang people looking for monetary help and energize mindful reimbursement rehearsals.

 

NFDC is the peak body directing assets for financial turn of events and independent work for PwDs through State Channelizing Organizations (SCAs) and accomplice Banks delegated by State/UT Legislatures.

International Affairs

1. Union Minister Piyush Goyal attended IPEF and APEC ministerial meetings in the U.S.

Piyush Goyal, Association Pastor of Trade and Industry, Customer Issues, Food and Public Conveyance and Materials was on Four-day official visit to San Francisco,United States (U.S) from November 13-16, 2023. His visit incorporates different authority commitments of the Indo-Pacific Monetary System (IPEF) and Asia-Pacific Financial Collaboration (APEC).

 

Key Features:

 

He took part in the 3 in-person IPEF Ecclesiastical gathering from November 13-14, 2023. The MoU (Notice of Understanding) was endorsed among India and The U.S. during the roundtable named “Deciphering the “Development Handshake : U.S.- India Business venture Organization ” in San Francisco ,U.S.

 

Association Pastor Piyush Goyal addressed India at the Organization for Worldwide Framework also, Speculation (PGII) – IPEF Financial backer Discussion meeting on November 16, 2023.

 

Piyush Goyal, Association Clergyman additionally addressed India at the APEC Monetary Initiative Commitment from 15-16 November, 2023. India has been welcome to the 30 APEC Monetary Pioneers Meeting 2023 as a Visitor Economy.

Banking and Finance

1. Bima Lokpal Day 2023: Insurance Ombudsman Disposed 92.28% of Complaints in FY23

On the event of Bima Lokpal Day 2023(11th November 2023), the Protection Ombudsman reported that it has discarded more than 92.28% of the grievances from the safeguard during the Monetary year 2022-23(FY23).

 

The Protection Ombudsman has settled 51,625 out of 55,946 protests across each of the 17 Protection Ombudsman Workplaces.

 

Central issues:

 

The Delhi office of the Protection Ombudsman has cleared each of the 5,257 protests it got during 2022-2023.

 

Kolkata office in West Bengal, settled 100 percent of grumblings in the FY23. Every one of the 3,027 objections were settled.

 

During April and October of FY24, Objections against insurance agencies in Tamil Nadu and Association region of Puducherry have expanded by 21.6% compared to the equivalent period in FY23.

 

Chennai office (TN) and Puducherry recorded 1,630 grievances during the period, which was at 1,340 in the relating time of FY23.

 

Around 60% of these objections were against medical coverage organizations and 40% of these were throughout everyday life and vehicle protection fragments.

 

Bima Lokpal Day:

 

Bima Lokpal Day is observed yearly on November 11, to remember the establishment day of the Protection Ombudsman, an elective debate goal discussion put in a position to determine debates connecting with insurance policies.

 

The protection ombudsman was laid out through an administration of India notice in November 1998.

 

About Protection Ombudsman:

 

Protection Ombudsman is a semi-legal complaint redressal hardware to review objections of protected people against life and non-life coverage organizations.

 

The workplaces of the Protection Ombudsman are under the authoritative control of the Committee for Protection Ombudsman (CIO).

2. Karnataka Bank Partners with HDFC Life to Offer Insurance Products 

Karnataka Bank has cooperated with HDFC Disaster protection Organization Restricted (HDFC Life) to offer disaster protection items to its clients.

 

This coordinated effort is set to convey a large group of advantages to clients looking for monetary security also, life assurance.

 

It likewise offers clients a scope of inventive and client driven monetary arrangements. HDFC Life was laid out in 2000 with HDFC Bank as one of the advertisers, others being Abrdn (Mauritius Property) 2006 Restricted.

Economy and Business

1. Goldman Sachs projects India GDP Growth at 6.3% in 2024

As indicated by India 2024 standpoint from Goldman Sachs Gathering, Inc, India’s genuine Gross Homegrown Item (Gross domestic product) development is supposed to decline possibly to 6.3% in 2024 from the 6.4% assessed for 2023.

 

India’s Gross domestic product is projected to develop at 6.5% in FY25 contrasted with 6.2% in FY24.

 

Development drivers:

 

Public authority spending will drive development in the first half, while private speculation will advance quickly after the overall political race to turn into the vital driver of development.

 

During the second Quarter (Q2) of 2024, appropriations and move installments will be development drivers as India makes a beeline for the Overall political decision in May 2024.

 

Central issues:

 

Title buyer value inflation(CPI) is supposed to decline to 5.1% year on year(yoy) normal in 2024.

 

The center expansion is supposed to decline to 4.5% yoy (normal) in 2024 from an expected 5.1% in 2023.

 

The ongoing record shortfall will enlarge to 1.9% of Gross domestic product in 2024 from the 1.3% expected in 2023

 

The rupee is set to appreciate to 82 against the dollar at 2024-end against the 83 level at the finish of 2023.

 

Confidential customer consumption will ascend to 6.5% and Gross Fixed Venture at 6.2%.

 

There will be an expanded assignment towards country work programs, higher cooking gas sponsorships, and an expansion of the food endowment program in the midst of a General political decision in 2024.

Science and Technology

1. Indian Navy Launched 4th MCA Barge, LSAM 10 (YARD 78) at M/s SEPPL in AP

 

On twentieth November 2023, Indian Naval force (IN) sent off the Rocket Cum Ammo (MCA) Barge, LSAM 10 (Yard 78), the fourth vessel in the 08 x MCA Barge project, at Guttenadeevi, East Godavari, Andhra Pradesh(AP). The starting Service was directed by Cmde Shanmugam Sabesan, CRO (East).

 

The canal boat was worked by the Miniature, Little and Medium Endeavor (MSME) Shipyard, M/s SECON Designing Tasks Pvt Ltd (SEPPL), Visakhapatnam(AP).

 

Background:

 

The agreement for building 8 MCA Barges was endorsed between the Service of Guard (MoD) and SEPPL on February 19, 2021.

 

Beforehand, Indian Naval force has sent off 3 MCA Barges:

 

First MCA Barge Yard 75 (LSAM 7) was sent off on 24 February 2023 at Visakhapatnam, AP. Second MCA Barge, Yard 76 (LSAM 8) was sent off on 18 August 2023 in East Godavari, AP. Third MCA Barge, Yard 77 (LSAM 9) was sent off on 22 September 2023 in East Godavari,AP.

 

Central issues:

 

The accessibility of these Scows would give impulse to the functional responsibilities of IN by working with Transportation, Embarkation, and Disembarkation of articles/ammo to IN Boats both close by breakwaters and at external harbors.

 

These Flatboats are natively planned and worked under important Maritime Principles and Guidelines of the Indian Register of Transportation (IRS).

 

The model testing of the Flatboat during the plan stage was embraced at the Maritime Science and Mechanical Lab (NSTL), Visakhapatnam.