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Current Affairs (27th November, 2023)

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Anish Shah, Has Been Appointed as the President of FICCI

  • Anish Shah, the CEO of Mahindra Group, has been named the President-elect of the Federation of Indian Chambers of Commerce and Industry (FICCI).
  • He will succeed Subhrakant Panda, the Managing Director of Indian Metals & Ferro Alloys Ltd.
  • Anish Shah also serves as the Managing Director of M&M, the overarching entity of the Mahindra Group.

Permanent Closure of Afghanistan Embassy in India

  • The Afghanistan embassy has officially declared the permanent shutdown of its diplomatic mission in New Delhi, citing ongoing challenges with the Indian government.
  • All diplomats representing the Afghan Republic have departed from India, leaving the future of the mission in the hands of the Indian government.
  • This marks the culmination of the Afghan Republic's 22-year diplomatic presence in India.

Mastercard and U GRO Capital Join Hands for MSME Financing

  • Mastercard has established a strategic alliance with U GRO Capital, a Non-Banking Financial Company (NBFC) with expertise in financing Micro, Small, and Medium Enterprises (MSMEs).
  • The objective of this partnership is to offer financial solutions to small businesses in India, addressing the persistent issue of restricted access to capital that MSMEs often encounter.

Svatantra Microfin's Acquisition of Chaitanya India Fin Credit

  • Svatantra Microfin Private Limited, established by Ananya Birla, is set to acquire Chaitanya India Fin Credit Private Limited, a subsidiary of Sachin Bansal's Navi Group.
  • The Rs 1,479 crore deal holds significant benefits for both the microfinance sector and Svatantra, enhancing its strategic presence in South India.

World’s Biggest in Motion After 30 Years

  • A23a, the world's largest iceberg, has started an unusual journey after being mostly immobile for over 30 years.
  • Weighing close to a trillion metric tonnes and covering 4,000 square km, this immense iceberg originated from the Filchner-Ronne Ice Shelf in West Antarctica in 1986.

India to Chair International Sugar Organisation (ISO)

  • During its 63rd council meeting, the International Sugar Organisation (ISO), based in London, declared India as the Chair of the organization for the year 2024.
  • With about 15% share in global sugar consumption and about 20% production of sugar, Indian sugar trends affects the global markets profusely. 
  • The International Sugar Organisation, representing approximately 90 member countries, serves as the premier international authority on sugar and related products.