Blog Article: Current Affairs - 17th November 2023
Introduction
Staying updated with the latest happenings around the world is crucial, especially for those preparing for competitive exams or simply wanting to stay informed. The current affairs of November 17, 2023, cover a wide range of topics from international news to economic updates, important days, and sports achievements. Let's delve into these updates, presented in a structured and easy-to-understand format.
International News
Union Minister Kiren Rijiju Represents India in Maldives
- Union Minister Kiren Rijiju arrived in the Maldives to represent India at the swearing-in of Maldives President-elect Mohamed Muizzu in Male.
- Muizzu, an associate of former President Abdulla Yameen, won the presidential runoff in September, defeating incumbent Ibrahim Mohamed Solih.
- The Maldives is significant in India's maritime strategy in the Indian Ocean Region, aligning with India's ‘SAGAR’ vision and ‘Neighbourhood First Policy.’
Banking News
RBI Imposes Penalty on Axis Bank
- The Reserve Bank of India imposed a ₹90.92 lakh penalty on Axis Bank for non-compliance with directives related to KYC, loans and advances, outsourcing of financial services, and current account operations.
- The bank failed to maintain records for customer identification and address in certain cases.
Economy News
India's Response to Oil Price Drop
- The Indian government reduced taxes on crude oil and diesel to counter the fall in international oil prices.
- The Special Additional Excise Duty on crude oil imports was cut by 35.71% from Rs. 9,800 per tonne to Rs. 6,300 per tonne.
S&P Global's Economic Forecast for India
- S&P Global predicts India's GDP growth to be between 6 to 7.1 percent annually from FY24 to FY26.
- The report suggests stable interest rates in India, benefiting the banking sector.
RBI Report on Inflation
- The RBI's ‘State of the Economy’ report identifies rising food prices as a major challenge to achieving the 4% Consumer Price Index target.
- Food items, which make up about 40% of the CPI basket, are crucial in determining overall inflation.
Positive Trends in India's Exports
- India's exports saw significant growth in the April-October 2023 period, driven by the Netherlands, the UK, and Australia.
- Despite a 7% contraction overall, exports to China grew modestly by 0.8%.
Important Days
International Students Day 2023
- Celebrated on November 17, this day acknowledges the resilience of students worldwide, especially those studying abroad.
- The day also commemorates the Nazi invasion of a university in Prague in 1939.
National Epilepsy Day 2023
- Observed in India on November 17 to raise awareness about epilepsy.
- Around 50 million people globally suffer from epilepsy, with India contributing significantly to this number.
Sports News
Mohammed Shami's Record in Cricket
- Mohammed Shami became the first Indian bowler to take seven wickets in a single One Day International match.
- His performance against New Zealand in Mumbai with figures of 7/57 surpassed Stuart Binny's previous record of 6/4.
Now take the following current affairs quiz to test your knowledge
Current affairs quiz - 17 November 2023
