Current Affairs Quiz - November, 2021

Notes:
JP Morgan Chase has become the world’s most systemically important bank according to the latest annual ranking of the Financial Stability Board (FSB).
FSB, made up of regulators from G20 countries, published its latest table of the world’s 30 most systemic banks. BNP Paribas and Goldman Sachs were also deemed more systemic.

Notes:
The island of Vulcano is a small volcanic island situated in the Tyrrhenian Sea in Italy. Recently, a continuous volcanic activity is observed in the island, on account of which the mayor of the island has order evacuation of about 150 people from the island.
Also, the mayor has banned tourists due to increased volcanic activity and gases in the island.

Notes:
The UN General Assembly has adopted a historic resolution to graduate three nations, including Bangladesh and Nepal, from the least developed country (LDC) category to the developing country grouping.
The UNGA adopted the resolution at its 76th session, which graduated three countries including Bangladesh, Nepal and the Lao People’s Democratic Republic.

Notes:
Ministry of Labour and Employment recently released a new series of Wage Rate Index (WRI) with base year 2016.
It is compiled and maintained by the Labour Bureau, an attached office of the Labour Ministry. The new series of WRI with base 2016 will replace the old series with base 1963-65.  The base year is revised to make the economic indicators reflect the changes in the economy.

Notes:
Indian Government’s think tank NITI Aayog has released a discussion paper called ‘Digital Banks: A Proposal for Licensing & Regulatory Regime for India’.
In the paper, Niti Aayog offers a roadmap to make digital banks (DBs) a reality in the country. It also cites that Digital banks will help India mitigating the deepening financial challenges. Digital banks are defined in the Banking Regulation Act, 1949 (BR Act).

Notes:
The death anniversary of Babasaheb Dr BR Ambedkar is observed as has been observed as ‘Mahaparinirvan Divas’, on December 6 every year.
Millions of his followers gather at his resting place Chaitya Bhumi, located in Mumbai to pay tributes. This year, Prime Minister of India Narendra Modi is addressing the followers at Chaitya Bhumi through video conference.

Notes:
India held a Science, Technology, Engineering and Mathematics (STEM) conference with Israel. In the conference, experts from India and Israel highlighted the importance of gender parity in STEM.
They also discussed the need introducing flexible work times and gender-neutral pays to enhance women participation in Science, Technology, Engineering and Mathematics (STEM).

Notes:
To commemorate the occasion of India’s 75 years’ independence, Ministry of Women and Child Development Celebrated Azadi Ka Amrit Mahotsav during the week 14-21 November, 2021 with the theme of ‘Children Ideas, Rights & Nutrition’.
The objective was to generate awareness about child rights among the society through outreach activities in Child Care Institutions (CCIs) and Specialised Adoption Agencies.

Notes:
An internal working group of RBI on the ownership and corporate structure of private sector banks has favoured allowing promoters to maintain any percentage of holding in the first five years and then capping it at 26 per cent after 15 years of operations.
RBI also released guidelines and explained that the cap on promoters’ stake in the long run of 15 years may be raised from the current levels of 15 per cent to 26 per cent of the paid-up voting equity share capital of the bank.

Notes:
Research and Information System for Developing Countries (RIS), is a New Delhi based autonomous think-tank under the Ministry of External Affairs, Government of India.
It is an organization that specializes in policy research on international economic issues and development cooperation.  BRICS Virtual Economic Conclave organised by Research and Information System for Developing Countries.