Home Daily Current Affairs Nov 14, 2021

Nov 14, 2021: Current affairs for UPSC/State PSC

This section contains daily current affairs taken from all major news papers and magazines like - The Hindu, Indian Express, PIB, Live Mint, RSTV etc.

These current affairs are written in a easy to remember format and are useful for competitive exams like - UPSC Civil Services, UPPSC, BPSC, MPPPSC, State PSCs and other competitive examinations.

What is "International Law Commission (ILC)" ?

Professor Bimal Patel, Member of National Security Advisory Board of India, has been elected to the International Law Commission for a five-year term starting January 1, 2023 in a hard-fought election at the United Nations.

The International Law Commission (ILC) is a body of experts responsible for helping develop and codify international law.

It is composed of 34 individuals recognized for their expertise and qualifications in international law, who are elected by the United Nations General Assembly (UNGA) every five years.

The ILC was formed in 1947 by the UNGA pursuant to the Charter of the United Nations, which calls on the Assembly to help develop and systematize international law.

The Commission held its first session in 1949, with its initial work influenced by the Second World War and subsequent concerns about international crimes such as genocide and acts of aggression.

The ILC has since held annual sessions at the U.N. Office at Geneva to discuss and debate various topics in international law and develop international legal principles accordingly.

International Relations

Rezang La war memorial

Defence Minister will inaugurate the revamped war memorial at Rezang La in Eastern Ladakh.

The memorial, dedicated to those who laid down their lives in the Battle of Rezang La during the 1962 war, now includes the names of Army personnel who lost their lives in the violent clash at Galwan.

November 18 marks the 59th anniversary of the Battle of Rezang La in which troops from the 13 Kumaon Regiment defeated several waves of the Chinese Army at a height of over 16,000 feet.

In the battle, 114 of the 120 troops of the Charlie Company lost their lives and Maj. Shaitan Singh was posthumously awarded the Param Vir Chakra (PVC).


Current Account Deficit (CAD)

India's trade deficit has been jumping continuously since July 2021.

The widening Current Account Deficit (CAD) is driven by the massive spike in commodity prices led by crude oil.

But, with record high foreign reserves, there are no major risks to macro stability or balance of payments conditions.

A current account deficit occurs when the total value of goods and services a country imports exceeds the total value of goods and services it exports.

Balance of Payments (BoP) of a country can be defined as a systematic statement of all economic transactions of a country with the rest of the world during a specific period usually one year.

If the reserves in the forex account are falling short then this scenario is referred to as Balance of Payments (BoP) crisis.

For preparing BoP accounts, economic transactions between a country and the rest of the world are grouped under - Current account, Capital account and Errors and Omissions.

It also shows changes in Foreign Exchange Reserves.


Importance of preserving landraces

Padma Shri award was given to Rahibai Popere, popularly known as Seedmother, from Akole taluka of Ahmednagar, Maharashtra.

She was awarded for recognition of her work that has helped save hundreds of landraces (wild varieties of commonly grown crops) at the village level.

Landraces refer to naturally occurring variants of commonly cultivated crops.

Landraces are as opposed to commercially grown crops, which are developed by selective breeding (hybrids) or through genetic engineering to express a certain trait over others.


UAE, Bahrain, United States & Israel joint naval exercise

The United Arab Emirates (UAE) and Bahrain are holding their first joint naval exercise with Israel and United States.

The five-day manoeuvres in the Red Sea, which is linked to the Mediterranean through the Suez Canal, are intended to "enhance interoperability between participating forces".

The UAE and Bahrain in 2020 normalised diplomatic relations with Israel under a US-brokered deal known as the Abraham Accords.


Shakti 2021 Exercise

The sixth edition of the Indo-French Shakti 2021 (bilateral joint training exercise), will be conducted in November in Frejus, France.

The biennial exercise between the armies of the two countries had started in 2011.

It is conducted alternately in India and France.

The last edition of the Shakti exercise had taken place in Rajasthan in 2019, in which "Counter Terrorism operations in semi-desert terrain were practised".

Defence Exercises between India and France:

Varuna - Naval exercise
Desert Knight-21 and Garuda - Air exercise)
Shakti - Army exercise


"Retail Direct Scheme" and "Integrated Ombudsman Scheme"

PM Modi launched two customer-centric initiatives of the Reserve Bank of India (RBI) - Retail direct scheme and Integrated ombudsman scheme. ...

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