1.Defence and Security

Quick Reaction Surface-to-Air-Missiles test-fired

1 11 Daily Current Affairs Update | 16 November 2020

India test fired the all-weather Quick Reaction Surface-to-Air-Missiles.

The test-fire was performed at the Chandipur Test Fire Range. 

The missile is called QRSAM and is a canister-based system.

The missile has the capability of striking aerial target at a height of 15 km.

Quick Fact: QRSAM consists of an Active Array Battery Surveillance Radar, a launcher and an active array battery multifunction radar. 

2.Business and Finance

IFSCA approved draft banking regulations at IFSC

2 11 Daily Current Affairs Update | 16 November 2020

International Financial Services Centres Authority (IFSCA) approved the International Financial Services Centres Authority (Banking) Regulations, 2020.

The draft banking regulations approved, opens the way for making rules for the various aspects of banking operations that would be permissible at the IFSC.

Important features of the regulation includes the need to lay down the obligations for setting up IFSC Banking Units (IBUs).

Quick Fact: The Chairman of the IFSCA is Injeti Srinivas.


World Diabetes Day: 14 November

3 11 Daily Current Affairs Update | 16 November 2020

World Diabetes Day is observed globally on 14th November every year. 

This year, the campaign aimed to raise awareness around the crucial role that nurses play in supporting people living with diabetes. 

In 2007, the UN General Assembly had adopted resolution 61/225 designating 14 November as World Diabetes Day. 

Diabetes is a major lifestyle disease around the world and the  cause of blindness, kidney failure, heart attack, stroke and lower limb amputation.

Quick Fact: The theme for World Diabetes Day 2020 is “The Nurse and Diabetes.” 

4.National Affairs

Mysuru to get India’s First Sandalwood Museum

4 11 Daily Current Affairs Update | 16 November 2020

India’s first Sandalwood Museum is being established at Mysuru, Karnataka.

It will be established in Aranya Bhavan in Ashokapuram.

The museum is set to be up by the Regional Forest Department to educate farmers about the significance of cultivation of sandalwood.

The museum will also provide technical support, information on the availability of saplings, marketing facilities, pest control measures, incentives and schemes provided for sandalwood growers by the government.

Quick Fact: The Chief Minister of Karnataka is B.S. Yediyurappa.


National Ayurveda Day 2020

5 10 Daily Current Affairs Update | 16 November 2020

National Ayurveda Day is observed nationwide every year on the day of Dhanwantri Jayanti. 

The day has been observed since 2016.

This year the 5th Ayurveda Day falls on November 13, 2020. 

The main objective of this year’s celebration would be the potential role of Ayurveda in the management of the COVID-19 pandemic.

6.India and the World

Moody’s projection for India’s GDP for 2020 is at -8.9%

6 11 Daily Current Affairs Update | 16 November 2020

Rating Agency Moody’s has projected the GDP of India at -8.9% for the year 2020. 

Earlier the GDP was projected at -9.6%. 

India’s GDP growth for Calendar year 2021 is projected at 8.6% 

Earlier, this projection was at 8.1%.

Quick Fact: The President & CEO of Moody’s is Raymond W. McDaniel, Jr.

7.International Affairs

15 Asian Economies sign World largest China-backed deal

7 11 Daily Current Affairs Update | 16 November 2020

China and fourteen other countries have signed a deal to set up the world largest trading bloc.

These 15 countries account to 30% of the world population and 30% of global GDP, thus making it the world largest Free Trade Agreement.

The deal was signed on the sidelines of the online ASEAN summit.

This is the first time China and Japan have reached a bilateral tariff reduction arrangement.

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