GoI appoints Ashok Bhushan as NCLAT Chairperson
The Centre has appointed former Supreme Court Judge Justice Ashok Bhushan as the new Chairperson of the National Company Law Appellate Tribunal (NCLAT), for a period of four years or until he attains the age of 70 years, whichever is the earliest. He was the former Chief Justice of Kerala High Court. NCLAT was formed by the government under Section 410 of the Companies Act, 2013.
Apart from this, Justice Ramalingam Sudhakar has been appointed as the new President of the quasi-judicial body, National Company Law Tribunal (NCLT) for five years or till he attains the age of 67 years. Justice Sudhakar was the former Chief Justice of Manipur High Court.
Important takeaways for all competitive exams:
- National Company Law Appellate Tribunal Founded: 1 June 2016.
Microsoft surpasses Apple to become world’s most valuable company
Microsoft Corp. has surpassed Apple Inc. to become the world’s most valuable publicly-traded company by market capitalisation. At market close on October 29, 2021, Apple stood at about $2.46 trillion while Microsoft reached nearly $2.49 trillion. Apple had held the top position for more than a year.
Microsoft became the second US public firm to surpass a $2 trillion market value in June, driven by expectations that its dominance in cloud computing and enterprise software will expand further in a post-coronavirus future. This year, its stock has outpaced Apple and Amazon.com Inc. on forecasts of long-term earnings and revenue growth, as well as expansion in areas such as machine learning and cloud computing. Microsoft is up more than 49%, Apple is up around 13%, and Amazon is up more than 3%.
Union Minister Amit Shah launches the “Dairy Sahakar” scheme
The Union Minister of Cooperation, Amit Shah has launched the “Dairy Sahakar” scheme at Anand, Gujarat during a function organised by Amul to celebrate the 75th Foundation Year of Amul. The total outlay of the Dairy Sahakar scheme is Rs 5000 crore. The scheme will be implemented by National Cooperative Development Corporation ( NCDC) under the Ministry of Cooperation.
About the scheme:
- The scheme will supplement the existing efforts of strengthening the dairy sector in the country, doubling the farmer’s income as well as realizing the vision of ‘from cooperation to prosperity’.
- Under the scheme, NCDC will extend financial support to eligible cooperatives for activities like bovine development, milk procurement, processing, quality assurance, value addition, branding, packaging, marketing, transportation and storage of milk and milk products, exports of dairy products among others.
Dr Jitendra Singh dedicates ‘Sardar Patel Leadership Centre’ to the Nation
Union Minister Dr Jitendra Singh has dedicated to the nation “Sardar Patel Leadership Centre” at Lal Bahadur Shastri National Academy of Administration (LBSNAA) in Mussoorie. The facility was inaugurated on the occasion of Rashtriya Ekta Diwas on October 31, 2021, which marks the birth anniversary of Sardar Vallabhbhai Patel.
About the Centre:
The Sardar Patel Leadership Centre aims to lay the foundation capacity building for future generations of Civil Servants from India and Abroad, as visualised by the Father of All India Services. The Centre aims to emerge as a Huge Resource Centre to provide continuous study and learning opportunities to Civil Servants so that they learn from the best practices of leadership across the world while remaining connected with their cultural ethos, values and roots.
Union Minister Jitendra Singh launches ‘Samudrayan Project’
The Union Minister of State (Independent Charge) Earth Sciences Dr Jitendra Singh officially launched India’s First Manned Ocean Mission called the “Samudrayan project” at Chennai. The Unique Ocean Mission aims to have deep underwater manned vehicles for carrying out subsea activities. With this technology, India joins the elite club of nations such as the USA, Russia, Japan, France and China to have such underwater vehicles.
About the Project:
- The Unique Ocean Mission aims to have deep underwater manned vehicles for carrying out subsea activities.
- The deepwater manned submersible has been codenamed as the ‘MATSYA 6000’.
- It is developed by the Chennai-based National Institute of Ocean Technology (NIOT).
- The technology will help to conduct deep-ocean exploration of the non-living resources located at a depth of about 1000 and 5500 meters, such as polymetallic manganese nodules, gas hydrates, hydro-thermal sulphides and cobalt crusts.
National Small Matchbox Manufacturers Association increases price of matchbox
National Small Matchbox Manufacturers Association has increased the price of a matchbox from Rs.1 to Rs. 2 per box. This will come into effect from December 01, 2021. The increase in the price of matchbox has been done after 14 years since last increase in 2007 from 50 paise to Re. 1.
However, with the increase in the price of matchboxes, the number of matchsticks in each box has also been increased from 36 matchsticks to 50 matchsticks. The increase in price was necessary as the price of all the 14 key raw materials of the matchstick has increased.
Govt approves interest rate on EPF for FY21 at 8.5%
Ministry of Finance has approved the interest rate on employees’ provident fund (EPF) deposits for 2020-21 at 8.5%. The rate has been kept unchanged as for the year 2019-20. EPF is one fixed-income instrument that is completely tax-free under the exempt-exempt-exempt (EEE) regime, along with PPF and the Sukanya Samriddhi Account. Now the labour ministry will notify the interest rate for it to come into effect.
ADB approves $250 million loan for India’s NICDP
The Asian Development Bank (ADB) has approved a USD 250 million (about Rs 1,875 crore) loan to support India’s National Industrial Corridor Development Program (NICDP). This is the first subprogram of the programmatic USD 500 million loans to develop 11 industrial corridors spanning 17 states.
About the NICDP:
NICDP aims to develop world-class industrial nodes that are supported by efficient urban agglomerations and multimodal connectivity, including international gateways like ports and airports and inclusive, climate-resilient, and sustainable infrastructure.
Agriculture Minister inaugurated “Apple Festival” in Jammu and Kashmir
Union Agriculture Minister, Narendra Singh Tomar and Lt Governor, Manoj Sinha has virtually inaugurated Apple Festival, organized for the first time in Srinagar, Jammu and Kashmir. It will provide a better platform to apple growers and other stakeholders. With an annual production of more than 2 million metric tonnes, apple from J&K contributes to 87% of the national production and is linked to the livelihood of about 30% of the population of Jammu and Kashmir.
Public Affairs Index 2021: Kerala topped in governance performance
According to the 6th edition of the Public Affairs Index (PAI 2021) report by the Public Affairs Centre (PAC), a Bengaluru- based non-profit think tank, the top three slots have been taken by Kerala, Tamil Nadu and Telangana among 18 large states. PAI 2021 highlights the state government’s quality governance and especially the state’s government involvement over the curb of Covid-19.
Toppers among large states
- Kerala (1.618)
- Tamil Nadu (0.857)
- Telangana (0.891)
Toppers among small states
- Sikkim (1.617)
- Meghalaya (1.144)
- Mizoram (1.123)
Toppers among Union Territories
- Puducherry (1.182)
- Jammu and Kashmir (0.705)
- Chandigarh (0.628)
About the PAI 2021:
Public Affairs Index (PAI 2021) ranks the states and Union Territories based on three pillars of equity, growth and sustainability along with 5 themes, 14 Sustainable Development Goals (SDGs) and 43 indicators.
Kotak Mahindra Bank partnered NPCI to launch Rupay Credit Cards ‘Veer’
Kotak Mahindra Bank (KMB) has partnered with the National Payments Corporation of India (NPCI) to launch Kotak credit cards on the RuPay network named ‘Veer’ for Indian armed forces i.e. the Army, Navy, and Air Force personnel. In India’s 75th year of Independence, the first credit card to be introduced by KMBL on the RuPay network is the ‘Veer’ credit card, exclusively for the armed forces.
The launch of Veer credit card for the armed forces marks Kotak’s 1st credit card under the RuPay network. The credit card is available in two variants as Kotak RuPay Veer Platinum and Kotak RuPay Veer Select. These contactless cards come with a zero joining fee and provide multiple exciting benefits to cardholders.
Important takeaways for all competitive exams:
- Kotak Mahindra Bank Founded: 2003;
- Kotak Mahindra Bank Headquarters: Mumbai, Maharashtra;
- Kotak Mahindra Bank MD & CEO: Uday Kotak;
- Kotak Mahindra Bank Tagline: Let’s make money simple.
IRCTC & Truecaller partnered to reduce fraud in the railways
The Indian Railway Catering & Tourism Corporation Limited (IRCTC) has partnered with Truecaller India to provide passengers with greater trust in communication. This partnership aims to reduce fraud in the railways. Under this partnership, the integrated National Railways Helpline 139 has been verified by Truecaller Business Identity solutions. This partnership aims to assure the passengers that critical communications such as booking details and PNR status are delivered only by IRCTC.
Important takeaways for all competitive exams:
- IRCTC Founded: 27th September 1999;
- IRCTC Headquarters: New Delhi;
- IRCTC CMD (Additional Charge): Rajni Hasija.
Kannada superstar Puneeth Rajkumar passes away
Kannada superstar Puneeth Rajkumar passed away due to a fatal cardiac arrest. He was the son of legendary actor Rajkumar. He was known to fans as “Appu” – after the 2002 film. He was also a singer and was admired for his dance skills. Puneeth was the presenter of Kannadada Kotyadhipathi, the Kannada version of the game show Who Wants To Be A Millionaire?
Isha Ambani appointed to Smithsonian’s board of trustees
Board member of Reliance Jio Infocomm, Reliance Retail and Reliance Foundation, Isha Ambani was appointed on the Board of Trustees of the prestigious Smithsonian’s National Museum of Asian Art. The appointment is for 4 years. Apart from Isha Ambani, Carolyn Brehm, founder and CEO of the consulting firm Brehm Global Ventures LLC and lecturer, and Peter Kimmelman, also joined the board. Antoine van Agtmael is the chair of the museum’s board of trustees.
About the Museum:
The museum collection of Asian art includes more than 45,000 objects, dating from the Neolithic period to the present, originating from the ancient Near East to China, Japan, Korea, South and Southeast Asia and the Islamic world. Opened as the Freer Gallery of Art in 1923, the museum will celebrate its centennial in 2023.
Australian legend Alan Davidson passes away
Australian legend Alan Davidson has passed away. The bowling allrounder, who made his Test debut against England in 1953, represented Australia 44 times in the longest format. The left-arm pacer had finished his career with a stunning average of 20.53, having picked up 186 wickets.
His career-best figures of 7/93 came against India in 1959. Davidson was a handy batsman as well, registering five vital half-centuries in his career, including the 80 he hit in the first-ever tied Test match in 1960 against West Indies. In the same game, he had also picked up 11 wickets.
Chennai-Mysore-Chennai Shatabdi Express gets IMS certification
The Chennai-Mysore-Chennai Shatabdi Express has become the first train of Southern Railway to receive Integrated Management Systems (IMS) certification. It got the certificate for world-class maintenance of the train, environment-friendly resources and convenient and safe travel of the passengers. It is also the first Shatabdi train and the only second mail/express train of Indian Railways to receive this prestigious certification.
The IMS certificate provided are ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018. The first train of Indian Railways to be IMS certified is Habibganj-Hazrat Nizamuddin-Habibganj Bhopal Express.
