Daily Current Affairs 29th Nov 2021 – News, Videos & MCQs

Get All the Important Current Affairs of 29th Nov 2021 in this blog. It covers all important sections like Banking Current Affairs, Finance Current Affairs, Sports Current Affairs, Latest Appointments, Awards and more. In this blog, you also get to solve Important Current Affairs MCQs of 29th Nov 2021.

Daily Current Affairs 29th Nov 2021

Important Days

In India, Constitution Day is observed every year on November 26 to mark the anniversary of the adoption of the Constitution of the country.

  • The President of India, Shri Ram Nath Kovind, inaugurated the Indian Constitution Day celebrations organized by the Supreme Court, on November 26, 2018 in New Delhi.
  • On 26 November 1949, the Constituent Assembly of India adopted the Constitution of India, and it came into effect on 26 January 1950.

November 26 is celebrated as National Milk Day in India.

  • The day is being observed since 2014 to commemorate the birth anniversary of the Father of India’s White Revolution, Dr. Verghese Kurien.
  • Dr. Verghese Kurien is also nicknamed as Milkman of India.
  • The day was fixed by all the dairy majors of the country including the National Dairy Development Board (NDDB), the Indian Dairy Association (IDA), along with 22 state level milk federations.

State in News

MP has launched ‘Urja Saksharta Abhiyan’ to make all the citizens aware about energy
saving, according to a time-bound action plan.

  • The schools, colleges, and general public of the state will be connected under this campaign. With this launch, MP has become the first state in India to run an energy literacy campaign on a big scale.
  • Shivraj Singh Chauhan has also laid the foundation stones for setting up three solar power plants of 1500-megawatt capacity in Shajapur, Agar, and Neemuch.
  • Total outlay of the project: Rs 5,250 crore.
  • MP is moving forward to complete the target of meeting 50% of the country’s energy requirements with solar energy by 2030.

The three-day Shillong Cherry Blossom Festival 2021 was inaugurated by Chief
Minister of Meghalaya, Conrad K Sangma, and Ambassador of Japan to India, Satoshi
Suzuki.

  • It was celebrated from November 25 to 27. The festival was held in two venues, Ward’s Lake and Polo Grounds in Meghalaya.
  • The annual festival coincides with the actual blooming of the cherry blossom flowers.


5 Popular Festivals of Meghalaya:
▪ Nongkrem Dance Festival
▪ Wangala Festival
▪ Ahaia
▪ Behdeinkhlam Festival
▪ Shad Sukra

SBI in News

Reserve Bank of India has imposed a monetary penalty of Rs 1 crore on the State Bank of India on November 26, 2021, for violating subsection (2) of section 19 of the Banking Regulation Act, 1949.

  • SBI held shares in the borrower companies of an amount exceeding 30 per cent of the paid-up share capital of those companies.
  • As per Sub-section (2) of the Banking Regulation Act, 1949, no banking company can hold shares in any company, as pledgee, mortgagee or absolute owner, of an amount exceeding 30 per cent of the paid-up share capital of that company or thirty per cent of its own paid-up share capital and reserves.

RBI in News

Reserve Bank of India had formed an Internal Working Group (IWG) in June 2020, to review the extant guidelines on ownership and corporate structure for Indian private sector banks.

  • The IWG had 5 members with Shri Shrimohan Yadav as the convenor.
  • The Internal Working Group (IWG) had made 33 recommendations to RBI.
  • Now RBI has accepted 21 recommendations out of these 33.


Some important points from these recommendations are given below:
▪ The initial lock-in requirements will continue as minimum 40 per cent of the paid-up voting equity share capital of the bank for the first five years.
▪ The cap on promoters’ stake in the long run of 15 years has been raised from 15 per cent (earlier) to 26 per cent of the paid-up voting equity share capital of the bank.

The minimum initial capital requirement for licensing new banks has been increased as below:

  • For Universal Banks: The initial paid-up voting equity share capital/ net worth required to set up a new universal bank has been increased to ₹1000 crore (from present ₹500 crore).
  • For SFBs: The initial paid-up voting equity share capital/ net worth required to set up a new SFB, has been increased to ₹300 crore (from present ₹200 crore).
  • For UCBs transiting to SFBs: The initial paid-up voting equity share capital/ net worth has been increased to ₹150 crore (from present ₹100 crore) which has to be increased to ₹300 crore in five years (from present ₹200 crore).


➢ All the new Small Finance Banks which are setup now, should be listed (on stock exchange) within
‘eight years from the date of commencement of operations’.
➢ Note that Universal banks shall continue to be listed within six years of commencement of operations.

Business News

BrandZ India 2021 Report by Kantar India looks broadly at the impact of 2020 and 2021’s
multifaceted volatility on Indian brands

Kantar Group is a data analytics and brand consulting company, based in London,
England.

RankMost Purposeful
Technology Brands
Most
Purposeful
FMCG Brands
Most Purposeful
Non-FMCG
Brands
1AmazonTata TeaAsian Paints
2ZomatoSurf ExcelSamsung & Jio
3YouTubeTaj Mahal (tea
brand)
MRF
4Google & SwiggyParachute &
Maggi
Tata Housing
5FlipkartBritanniaAirtel

Appointments

Petr Fiala has been sworn in as the new Prime Minister of the Czech Republic by
President Milos Zeman on November 28, 2021.

Fiala succeeds Andrej Babis.


▪ Czech Capital: Prague
▪ Currency: Czech koruna

Noted mountaineer Harshwanti Bisht has been elected as the first woman president
of the Indian Mountaineering Foundation (IMF).

  • Replaced to : Brig. Ashok Abbey
  • In 1981, Bisht scaled the Nanda Devi peak for which she was honored with the Arjuna award.
  • The IMF was founded in the year 1958.
  • It is an apex national body to organize and support, mountaineering and rock climbing expeditions at high altitudes in the Himalayas.

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Current Affairs 29th Nov 2021 – MCQs

Q. Economic Advisory Council to PM (EAC-PM) has projected India’s real Gross
Domestic Product (GDP) growth at ___________ in FY23.

(a) 6-5-6.9%
(b) 7.0-7.5%
(c) 8.9-9.5%
(d) 9.8-10.3%
(e) 10.0-11.6%

Answer: Option B

▪ There, EAC-PM members projected India’s real Gross Domestic Product (GDP) to 7-
7.5% and a nominal rate of growth of more than 11% in FY23.
▪ They also projected growth of 5% in the current fiscal year (FY22) from a
record contraction of 7.3% (-7.3%) in FY21.
▪ Chairman: Bibek Debroy
▪ Part-Time Members: Rakesh Mohan, Poonam Gupta, T.T. Ram Mohan, Sajid Chenoy,
Neelkanth Mishra, and Nilesh Shah

Q. Which city has topped the NITI Aayog’s first ever Sustainable Development
Goals (SDG) Urban India Index in 2021-22?

(a) Shimla
(b) Coimbatore
(c) Chandigarh
(d) Thiruvananthapuram
(e) Kochi

Answer: Option A

NITI Aayog launched SDG Urban Index 2021-22; Shimla topped the Index
▪ NITI Aayog has released its first-ever Sustainable Development Goals (SDG) Urban India
Index. In which around 56 urban areas have been evaluated with 77 SDG indicators
across 46 targets.
▪ Shimla, Coimbatore, Chandigarh, Thiruvananthapuram, Kochi, Panaji, Pune,
Tiruchirappalli, Ahmedabad and Nagpur are among the top 10 performing urban areas
in the first SDG Urban India Index released by NITI Aayog.
▪ Dhanbad, Meerut, Itanagar, Guwahati, Patna, Jodhpur, Kohima, Agra, Kolkata and
Faridabad are among the bottom 10 performers.

Q. RBI has revealed a Draft Scheme for amalgamation of PMC Bank with Unity
Small Finance Bank. Where is the Headquarters of Unity Small Finance Bank?

(a) Bengaluru
(b) Mumbai
(c) Hyderabad
(d) New Delhi
(e) Pune

Answer: Option D

The suggestions and objections to the draft scheme are open till December 10, 2021.
PMC Bank Limited based in Mumbai, Maharashtra was placed under All-Inclusive
Directions under Sub-section (1) of Section 35-A read with Section 56 of the Banking
Regulation (BR) Act, 1949 on September 23, 2019 on account of fraud which led to a
steep deterioration in its net worth.

Q. Which Bank has launched an online platform called ‘Trade Emerge’ for
Indian exporters and importers to offer them digital banking and value-added services?

a) ICICI Bank
b) HDFC
c) Bank of Baroda
d) State Bank of India
e) HSBC

Answer: Option A


▪ The cross-border trade will become hassle-free, expeditious and convenient with Trade
Emerge because an array of services are being offered in one place so companies will
not require to coordinate with multiple touchpoints.
▪ The exporters and importers who are not customers of ICICI Bank can also avail the
benefit of this platform

That is all from us in this blog on Current Affairs 29th Nov 2021.


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