APPOINTMENTS
Luong Cuong elected as president of Vietnam.
• Luong Cuong was elected as Vietnam's president on October 21 during the 8th session of the 15th National Assembly.
• He is a member of the Political Bureau of the Communist Party of Vietnam and serves as a permanent member of its Central Committee Secretariat.
• All 440 delegates present voted in favor of Cuong, representing 91.67% of the total National Assembly members.
• Cuong replaces Toh Lam, who was appointed secretary-general of the Communist Party in August.
• While the presidency is largely ceremonial, the secretary-general holds the most powerful position in the country.
• The Prime Minister of Vietnam is Phạm Minh Chính.
• Vietnam's capital is Hanoi, and its currency is the Vietnamese đồng.
AWARDS
Steel Authority of India Limited (SAIL) has received SHRM - HR Excellence Awards.
• Steel Authority of India Limited (SAIL) has been honored with SHRM - HR Excellence Awards.
• The company received accolades for ‘Excellence in Inclusion, Equity & Diversity’ and ‘Excellence in Managing the Distributed Workforce.’
• These awards were presented at the SHRM India Annual Conference 2024 in New Delhi.
• The recognition highlights SAIL's commitment to effective HR practices and initiatives.
• Established in 1954, SAIL is the largest steel-producing company in India.
• SAIL operates as a Public Sector Undertaking under the Ministry of Steel.
• The company's headquarters are located in New Delhi.
INTERNATIONAL NEWS
India and Pakistan have agreed to extend Sri Kartarpur Sahib Corridor Agreement for further five years.
• India and Pakistan have agreed to extend the Sri Kartarpur Sahib Corridor Agreement for another five years.
• Originally signed on October 24, 2019, the agreement was valid for five years.
• The corridor facilitates pilgrimages from India to Gurdwara Darbar Sahib Kartarpur in Narowal, Pakistan.
• The renewal ensures the uninterrupted operation of the corridor for Indian pilgrims.
• India has urged Pakistan to eliminate the $20 service charge imposed on each pilgrim.
• The Kartarpur Corridor allows for visa-free travel and is dedicated to religious purposes.
• It connects Gurdwara Darbar Sahib in Pakistan with Gurudwara Dera Baba Nanak in Gurdaspur, Punjab, India.
STATE NEWS
The 18th Pravasi Bharatiya Divas will be hosted by Odisha in Bhubaneswar
• The 18th Pravasi Bharatiya Divas will take place in Bhubaneswar, Odisha, from January 8 to 10, 2025.
• Odisha Chief Minister Mohan Charan Majhi has approved the proposal from the Union External Affairs Ministry.
• The event will be graced by President Draupadi Murmu, Prime Minister Narendra Modi, various Union ministers, and other dignitaries.
• Pravasi Bharatiya Divas is celebrated annually on January 9.
• This day commemorates Mahatma Gandhi's return to India from South Africa on January 9, 1915.
• Since 2003, India has observed Pravasi Bharatiya Divas to honor the contributions of the overseas Indian community to the nation’s development.
• From 2003 to 2015, the PBD Convention was held annually; it has since been changed to a biennial format.
• The 17th PBD Convention was hosted in Indore, Madhya Pradesh, in 2023.
SUMMIT AND CONFERENCE
National-level Amaravati Drone Summit 2024 begin in Amaravati.
• The National-level Amaravati Drone Summit 2024 has commenced in Amaravati.
• Chief Minister N. Chandrababu Naidu and Union Minister for Civil Aviation K. Ram Mohan Naidu inaugurated the two-day event.
• The summit aims to attract investments in drone manufacturing and facilitate discussions on future drone technology.
• India’s largest drone show, featuring over 5,000 drones, is being held along the banks of the River Krishna in Vijayawada.
• The Andhra Pradesh government intends to leverage this summit to establish the state as the drone capital of India.
• The event showcases the potential and innovation within the rapidly evolving drone industry.
Shri Amit Shah addressed 14th All India Home Guards and Civil Defence Conference in Gandhinagar, Gujarat.
• Shri Amit Shah addressed the 14th All India Home Guards and Civil Defence Conference in Gandhinagar, Gujarat.
• He emphasized Prime Minister Narendra Modi's commitment to making India a fully developed country by 2047.
• Shah noted that the service and security roles of Home Guards and Civil Defence can contribute to this developmental goal.
• The two-day conference will feature extensive discussions on enhancing Civil Defence and Home Guards.
• He highlighted the history of Civil Defence, mentioning the Civil Defence Act of 1968 and the establishment of the Civil Defence Directorate in 1962.
• Shah acknowledged the sacrifice of 27 Home Guards and Civil Defence members who died protecting citizens during the pandemic.
• The conference aims to strengthen the framework and effectiveness of civil defence initiatives across India.
PM Modi reached in Kazan city of Russia to take part in the 16th BRICS Summit.
• PM Modi arrived in Kazan, Russia, to participate in the 16th BRICS Summit.
• The summit is taking place from October 22-24 under Russia's chairmanship.
• This year’s theme is "Strengthening Multilateralism for Just Global Development and Security."
• The Ministry of External Affairs (MEA) stated that the summit will serve as a key platform for discussing major global issues.
• This marks PM Modi’s second visit to Russia in 2024.
• He previously visited Moscow in July for the 22nd India-Russia Annual Summit.
• During that visit, he received Russia’s highest civilian honor, the Order of St. Andrew the Apostle.
• The inaugural BRIC Summit took place in Yekaterinburg, Russia, in 2009.
• South Africa joined the BRICS group at the 3rd Summit in Sanya in 2011.
• In 2024, BRICS expanded by adding five new members: Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE.
Kazan Declaration adopted at the BRICS summit.
• The 16th BRICS summit took place in Kazan, Russia, on October 23, concluding with the Kazan Declaration.
• The declaration emphasizes strengthening multilateralism to enhance global collaboration.
• Leaders discussed strategies for combating terrorism and promoting regional stability.
• The summit focused on initiatives to foster economic growth, particularly for developing nations.
• Key discussions addressed the concerns and aspirations of the Global South.
• The declaration reaffirmed BRICS members' support for their aspirations to gain permanent seats on the UN Security Council.
• Emphasis was placed on enhancing financial cooperation, including payment systems in national currencies.
• Climate change emerged as a significant topic, with leaders committing to collaborative efforts in this area.
• The declaration highlighted the importance of solidarity and strategic partnerships among BRICS nations for just global development and security.
BANKING, ECONOMY AND FINANCE
IMF projected India’s GDP growth to be 7%.
• The IMF has kept India's GDP growth projection at 7% for the current fiscal year.
• For the fiscal year 2025-26, the growth rate is expected to moderate to 6.5%.
• The GDP growth forecast for India has decreased from 8.2% in 2023 to 7% in 2024 and 6.5% in 2025.
• In contrast, China's growth outlook for 2024 has been reduced to 4.8%, down from 5%.
• The IMF has raised the US growth estimate for 2024 to 2.8%, an increase from the earlier forecast of 2.6%.
• Global growth is projected to remain steady at 3.2% for both 2024 and 2025.
• The IMF emphasized the need for reforms in collaboration with the World Bank during its annual meetings.
• Overall, the IMF's forecasts highlight shifting economic dynamics in major economies.
