Insurance Regulatory and Development Authority of India (IRDA):
- The Insurance Regulatory and Development Authority (IRDA) Advisory Committee has urged that the insurance policy terms and conditions should be stated in plain language so that everyone can easily understand them.
- Insurance Regulatory and Development Authority of India (IRDA) is the statutory lead body.
- Its main task is to regulate and promote the insurance industry in India.
- The system operates under the Indian Insurance Regulation and Promotion Act, 1999.
- IARTA is headquartered in Hyderabad.
- IRDA works to protect the rights of policyholders who have paid insurance premiums, grant the right to start business to insurance companies and supervise them.
- All the members including the Chairman and five full-time members and four part-time members are appointed by the Central Government of India.
WTO: Agreement on Agriculture
- Five member countries of the World Trade Organization namely Argentina, Australia, Canada, Ukraine and the United States have accused India of distorting global trade under the provisions of the International Agreement on Agriculture.
- A ceiling of 10 per cent of the value of food production for developing countries like India has been fixed based on the 1986 to 1988 prices.
- India invoked the WTO’s ‘peace clause’ to provide additional subsidies to rice farmers for the 2022-23 financial year.
- WTO – is the world’s largest international economic organization.
- The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland.
- It regulates and facilitates international trade.
- Governments use the organization to establish, revise and enforce rules governing international trade in cooperation with the United Nations.
- It officially entered into force on 1 January 1995 under the 1994 Marrakesh Agreement.
- It thus replaced the General Agreement on Tariffs and Trade (GATT) established in 1948.
Health Policy for School Girls:
- The Central Government informed that the National Menstrual Health Policy for school girls has been formulated and approved.
- Central and state governments should provide sanitary napkins to schoolgirls of classes 6 to 12 for use during periods.
- All government, government aided and boarding schools should provide separate toilet facilities for female students.
- 7 percent of schools in Tamil Nadu and 99.6 percent of schools in Kerala have separate toilet facilities for girls.
November 12: World Pneumonia Day
- World Pneumonia Day is observed on November 12 to raise awareness about pneumonia and its prevention.
- It is a serious, life-threatening lung infection.
- Pneumonia is primarily spread from person to person by viruses, bacteria, or fungi.
- The most common type of bacterial pneumonia is pneumococcal pneumonia.
Important Facts:
- Delhi Police arrested the gang involved in the distribution of arms between the states through a month-long ‘Operation Eagle’.
- Sanjeev Khanna sworn in as the 51st Chief Justice of the Supreme Court.
- Commodore J. Suresh took charge as the Chief of the Military Division of the Ministry of Defence tri-forces with headquarters at Chennai.
- IIT Chennai has signed an MoU with ISRO for setting up a satellite and rocket thermal research centre.
- With the help of the Indian Space Research Organization (ISRO), a special research centre for fluids and thermodynamics is to be set up at IIT Chennai.
- Elise Stefanik has been nominated by Donald Trump to be the US ambassador to the UN.
- Shigeru Ishiba was reinstated as Prime Minister of Japan.
- Naveen Ramgoolam becomes the Prime Minister of Mauritius.
- Arvind Chidambaram won the Chennai Grand Masters competition, Grand Master Pranav won the Challengers category.
- World No. 1 domestic player Jannick Sinner has won the ATP Finals tournament which has started in Italy.