Weekly Current Affairs (15 Nov- 21 Nov, 2023)

1. Sovereign Green Bonds: A Step Towards Sustainable Finance

India’s successful issuance of Sovereign Green Bonds for the Fiscal Year 2024 marks a significant milestone in the country’s commitment to sustainable finance. These bonds, aimed at financing environmentally friendly projects, attracted substantial investor interest, reflecting the growing demand for green investments.

2. Cybersecurity Concerns: India Witnesses a Spike in Cyberattacks

The State of Application Security Report has revealed a disturbing trend, with India experiencing a 70% surge in cyberattacks during the third quarter (Q3) of 2023. This alarming increase highlights the need for organizations to strengthen their cybersecurity measures to protect their data and systems.

3. India International Science Festival (IISF) 2023: Fostering a Culture of Scientific Innovation

The 9th edition of the India International Science Festival (IISF) 2023, held in Faridabad, Haryana, served as a platform to showcase India’s scientific advancements and foster a culture of innovation among the youth. The event featured a diverse range of exhibitions, workshops, and interactions with renowned scientists.

4. Viksit Bharat Sankalp Yatra: Empowering Rural India

Prime Minister Narendra Modi launched the Viksit Bharat Sankalp Yatra, a nationwide initiative aimed at accelerating development in rural India. The yatra will focus on infrastructure development, education, healthcare, and skill development, empowering rural communities and bridging the urban-rural divide.

5. World Governance Index: Questioning the Methodology

The Chief Economic Advisor has raised concerns over the methodology of the Worldwide Governance Index, questioning the use of its indicators in ratings assessment by credit ratings agencies. The advisor has argued that the index fails to capture the nuances of governance in developing countries.

6. Coal Production in India: Augmenting Energy Security

In a bid to boost coal production and enhance energy security, the Ministry of Coal has launched the eighth round of the commercial coal mines auction process. This initiative aims to attract greater investment in the coal sector and strengthen India’s energy infrastructure.

7. PM Particularly Vulnerable Tribal Groups (PM PVTG) Mission: Empowering Marginalised Communities

The Prime Minister has launched the Rs. 24,000-crore Pradhan Mantri Particularly Vulnerable Tribal Groups (PM PVTG) Mission, a comprehensive scheme dedicated to the upliftment of marginalised tribal communities. The mission will focus on livelihood development, education, healthcare, and cultural preservation.

8. MSCIEM Index: India’s Growing Economic Stature

India’s weightage on the MSCI Emerging Markets (EM) index is set to increase following the inclusion of nine Indian stocks. This rise reflects India’s growing economic stature and the increasing attractiveness of Indian equities to global investors.

9. India and US Strengthen Innovation Collaboration

India and the US have signed a memorandum of understanding (MoU) on “Enhancing Innovation Ecosystems through an Innovation Handshake”. This MoU aims to foster collaboration between the two countries in areas such as technology transfer, research and development, and entrepreneurship.

10. Risk-Weighted Assets: RBI Tightens Regulatory Framework

The Reserve Bank of India (RBI) has increased the risk weights of assets for the unsecured lending issued by banks and non-banking financial companies (NBFCs). This move is aimed at strengthening the stability of the financial system and mitigating potential risks associated with unsecured lending.