05 November - World Tsunami Awareness Day

    Theme - Sendai Seven Campaign.

US lawmaker introduced a bill to declare Diwali as a national holiday.

  • United States lawmakers led by Congresswoman Carolyn B. Maloney from New York introduced a bill to declare Diwali a national holiday in the country.
  • The MP announced the Diwali Day Act in the House of Representatives.
  • The landmark law is getting support from several lawmakers, including Indian-American Representative Raja Krishnamurthy.
  • Meanwhile, Krishnamurthy also introduced a resolution in the US Congress to recognize the religious and historical significance of the festival of lights.

NITI Aayog, World Bank ready push electric vehicle financing.

  • NITI (National Institution for Transforming India) Aayog and World Bank (WB) are working together to facilitate a program for faster and easier financing of Electric Vehicles (EVs).
  • NITI Aayog and World Bank are setting up a $300 million First Loss Risk Sharing Instrument with State Bank of India (SBI) as its program manager.
  • The current interest rate for electric two-wheelers and electric three-wheelers, which is in the range of 20-25 per cent, is expected to be reduced to 10-12 per cent.

South African author Damon Galgut wins the Booker Prize.

  • South African playwright and novelist, Damon Galgut, has won the 2021 Booker Prize for The Promise, his 3rd shortlisted novel, which chronicles his homeland from the late apartheid era to the presidency of Jacob Zuma.
  • The book, spanning several decades, depicts the growing disintegration of the family as the country emerges into democracy.
  • Mr Galgut took the prize for his 3rd time as a finalist, for a book the judges called a tour de force.
  • He was previously shortlisted for The Good Doctor in 2003 and In a Strange Room in 2010, but lost both times.

RBI released revised PCA framework for banks.

  • RBI has released a revised Prompt Corrective Action (PCA) framework for banks to enable supervisory intervention at an appropriate time and act as a tool for effective market discipline.
  • Capital, asset quality and leverage will be key areas to monitor in the revised framework.
  • The revised PCA framework will be effective from January 1, 2022.
  • The framework was last revised in April 2017.

Elon Musk's Starlink registers India unit, plans to focus on rural areas.

  • Elon Musk backed Starlink has registered its business in India.
  • According to company documents filed with the government, it is planning to launch internet services in the country.
  • Starlink is the satellite internet division of billionaire Elon Musk's rocket company SpaceX.
  • In India, Starlink plans to advance the telecom services business including satellite broadband Internet services, content storage, and streaming, multi-media communications.

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