Indian Oil Corporation Launches India’s 1st Gasoline & Diesel Reference Fuels Union Minister Hardeep Singh Puri, Ministry of Petroleum and Natural Gas (MoPNG) launched the India’s1stReference Gasoline and Diesel Fuels produced by Indian Oil Corporation Limited (IOCL).
With this launch, India joined the elite group of nations with domestic production of ‘Reference’ Petrol and Diesel and IOCL becomes the 4th refiner in the world to produce ‘reference’ grade petrol and diesel.
IOCL’s Paradip refinery (Odisha) will produce ‘reference’ grade petrol; IOCL’s Panipat Refinery (Haryana) will produce ‘reference’ quality diesel.
Note: The production of ‘reference’ fuel is another step towards Aatmanirbhar Bharat (self-reliant India). About Indian Oil Corporation Limited (IOCL): IOCL is a Maharatna Public Sector Enterprise (PSE) under MoPNG. It was incorporated in 1964 by merging Indian Refineries Limited with Indian Oil Company under the Indian Companies Act, 1956. Chairman– Shrikant Madhav Vaidya Headquarters– New Delhi, Delhi
Coal Ministry & MNRE Collaborate to Work Jointly to Promote Green Energy The Ministry of Coal and the Ministry of New & Renewable Energy (MNRE) collaborated to work together for the promotion of green energy. MNRE will provide technical, policy, and capacity-building assistance, while the Ministry of Coal will supply land and capital to construct solar energy, green hydrogen, and other renewable energy projects.
Through this collaboration, the roof-top solar will be installed in all the government buildings and houses of CPSE employees in Mission Mode.
The de-coaled and surplus land masses will be offered for the setting up of green hydrogen projects by private investors.
MNRE is set to support the Ministry of Coal and its CPSEs for capacity-building training of engineers, technicians, and other functionaries through the National Institute of Solar Energy (NISE)Gurgaon (Haryana).
MNRE will provide knowledge partnerships through the Indian Institute of Technology (IIT), Roorkee (Uttarakhand), the Solar Energy Corporation of India, and its other resource agencies.
Note: The central public sector Enterprises(CPSEs) of Ministry of Coal have installed 1600 MegaWatt (MW) solar Energy generation capacity and Work on another 500 MW solar projects is at different stages.CPSEs target to create a generation capacity of 12GW by 2030.
Reserve Bank of India (RBI) Issues New Guidelines NBFC – SBR Master Directions 2023Reserve Bank of India (RBI) has recently published a new set of guidelines called the “Master Direction – Reserve Bank of India [Non-Banking Financial Company (NBFC)– Scale Based Regulation(SBR)] Directions, 2023″. It replaces the Non-Banking Financial Company–Non-Systemically Important Non-Deposit taking (Reserve Bank) Directions, 2016, and the Non-Banking Financial Company–Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016. i.As the regulatory structure envisages scale based as well as activity-based regulation, the following prescriptions shall apply in respect of the NBFCs.
NBFC-P2P, NBFC-AA, NOFHC, and NBFCs without public funds and customer interaction will consistently fall within the Base Layer of the regulatory structure.
NBFC-D, CIC, NBFC-IFC, and HFC will be categorized in either the Middle Layer or Upper Layer, as appropriate, excluding the Base Layer. SPD and IDF-NBFC will always remain in the Middle Layer.
ii.The Reserve Bank of India is mandating Credit Information Companies (CICs) and Credit Institutions (CIs) to enhance customer service and grievance redress mechanisms, pursuant to Section 11(1) of the Credit Information Companies (Regulation) Act, 2005
RBL Bank launches Zero-Balance Go Savings AccountRBL Bank, formerly known as Ratnakar Bank, has launched the GO Savings Account, a zero-balance digital banking product. The account has a subscription-based model means it will replace minimum balance requirement, thus, finishing the hassle of maintaining a minimum balance. GO Savings Account Features:
Competitive interest rates of up to 7.5% per annum.
A premium debit card.
Vouchers valued at Rs 1500 for premier brands.
Comprehensive cyber insurance cover, accident and travel insurance up to Rs 1 crore and free CIBIL report.
Key Points: i.The subscription fee is Rs 1999 (plus taxes) for the first year, and an annual renewal fee of Rs 599 (+taxes). ii.The account has a simple account opening process and easy-to-operate features. It caters to customers of all age groups. About RBL Bank: Managing Director & CEO– R Subramaniakumar Headquarters– Mumbai, Maharashtra Tagline– Apno Ka Bank Establishment– 1943
AU Small Finance Bank Launches ‘Planet first – AU Green Fixed Deposit’ with 8.5% Interest RateAU Small Finance Bank (AU SFB) Limited launched its first Green Fixed Deposit (FD) namely Planet First – AU Green Fixed Deposit with an interest rate of up to 8.50%. This launch represents bank’s commitment towards climate action, and also allows customers to contribute to sustainability by dedicating proceeds to green projects.
The Green FD was launched on 25th October 2023, last Wednesday of October, which is celebrated as the Sustainability Day.
Features of Planet First-AU Green Fixed Deposit:
Interest rate of up to 8.50%
Minimum investment of Rs. 5,000
Tenure options from two to five years
Interest payment options including monthly, quarterly, and cumulative
Key Points: i.With this launch, customers can secure Green FDs through Video Banking, the AU 0101 App, Net Banking, or by visiting AU Small Finance Bank branches, both existing and new AU SFB customers. ii.A green fixed deposit (FD) is an interest-bearing deposit that funds projects with environmental benefits. Green FDs are also known as environmentally friendly fixed deposits. iii.The Green Fixed Deposits will enable customers to contribute to sustainability of planet through AU’s green offering.
Escrowpay secures India’s 1st digital Escrow authorization from IFSCA Escrowpay, a leading digital escrow platform, has secured India‘s 1st digital escrow regulatory fintech authorisation from International Financial Services Centres Authority (IFSCA), Gujarat International Finance Tec-City (GIFT City), Gandhinagar, Gujarat.
The authorization will provide secured and efficient financial solutions to 70 million Small and Medium Enterprises (SMEs) in India.
The authorization will also enable Escrowpay to further expand its suite of offerings and commence cross-border transactions in over 14 world currencies.
It will also help to make escrow banking more accessible, affordable, and secure for all users.
What is Escrow? Escrow is a financial arrangement in which a third party, known as an escrow agent, holds money or property on behalf of two other parties that are in the process of completing a transaction. About Escrowpay: MD– Ashwin Chawwla Headquarters– Gurugram, Haryana Established in 2015
3 Indian Technology Experts Named in the 39-member UN High-level Advisory Body on AIOn 26 October 2023, the United Nations (UN) Secretary-General (SG) AntónioGuterres revealed the formation of a39-member High-Level Multistakeholder Advisory Bodyon Artificial Intelligence (AI) in New York, the United States of America (USA).
The list featured 3Indian technology experts namely Amandeep Singh Gill, UN SG’s Envoy on Technology(since 2022); NazneenRajani, Lead Researcher at Hugging Face; and Sharad Sharma, Co-founder of iSPIRT Foundation.
The Board will support the international community’s efforts to govern AI and its members’ list comprises experts from the government, private sector, research community, civil society, and academia.
About United Nations (UN): Secretary-General– António Guterres Headquarters– New York City, United States of America (USA) Established on– 24 October 1945.
Actor Rajkummar Rao Named as ‘National Icon’ for Election Commission of India Bollywood Actor Rajkummar Rao was named as the ‘National Icon’ for voter awareness and education by the Election Commission of India(ECI).
Rajkummar Rao and ECI entered into a Memorandum of Understanding (MoU) for a period of 3 years at the event held in New Delhi, Delhi, in the presence of the Chief Election Commissioner (CEC), Rajiv Kumar, and Election Commissioners Anup Chandra Pandey and Arun Goel.
About this Partnership: i.This collaboration aims to use Rajkummar Rao’s impact and popularity to inspire citizens, especially youth, across the country to actively engage in the voting process.
ii.Through this collaboration, Rajkummar Rao will promote voter awareness in various TV talk shows/ programs and digital campaigns about the importance of voting and strengthening the roots of democracy by fostering a more engaged and informed electorate.
iii. ECI collaborates with renowned Indians from various fields and designates them as ECI’s national icons to inspire voters to join in the celebration of democracy.
Former Indian cricketer and Bharat Ratna awardee Sachin Ramesh Tendulkar as the National Icon in August 2023.
Actor Pankaj Tripathi was named as the National Icon in 2022.
Singer Jasbir Jassi and diversity and inclusion consultant Dr. Niru Kumar were named as the National Icons in 2020.
During the 2019 Lok Sabha Elections, Mahendra Singh Dhoni, Aamir Khan and Mary Kom were the ECI National Icons.
About Rajkummar Rao: i.Rajkummar Rao made his acting debut with the anthology film Love Sex Aur Dhokha (2010).
Rajkummar Rao acted as an election officer in ‘Newton’ movie which was released in 2017.
Rajkummar Rao is noted for his acting in movies like Shahid (2012), Trapped (2016), Stree (2018), Badhaai Do (2022), Monica, and O My Darling (2022).
He is the brand ambassador of the brands including Cashify, Syska Group and ‘The New Shop’.
ii.He won the best actor award in the 2014 National Flim Awards for acting in ‘Shahid’ movie which was a real life story of Shahid Azmi, slain lawyer and human rights activist from Mumbai, Maharashtra State of India.He shared the best actor award with Suraj Venjaramoodu for Malayalam film “Perariyathavar”.
Worldsteel elects Nucor’s Leon Topalian as Chairman & TATA Steel’s T V Narendran as Vice ChairmanLeon J. Topalian, President and Chief Executive Officer(CEO) of Nucor Corporation (the United States of America-USA), was elected as the 45th Chairman of the World Steel Association(worldsteel), the international industry association for the iron and steel sector.
India’s Thachat Viswanath(TV)Narendran, CEO & Managing Director(MD) of Tata Steel Limited and Choi Jeong-Woo, CEO of POSCO Holdings were elected as the Vice Chairman of Worldsteel.
Choi Jeong-Woo served as the 44th Chairman of the WorldSteel.
Other Elected Office Bearers:
Timoteo Di Maulo, CEO of Aperam S.A. (Belgian-French Company), as the Chairman of worldstainless.
Note: worldstainless is a not-for-profit research and development association which was founded in 1996 as the International Stainless Steel Forum. worldstainless is not a separate legal entity. Worldsteel provides administrative support to worldstainless. Key Points:
Leon J. Topalian, TV Narendran and Choi Jeong-Woo were also elected as the members of the 2023-2024 Executive Committee
The board members of Worldsteel has also elected the executive board of directors for the period 2023-2024. The executives of the board of Worldsteel will hold office for 1 year.
About TV Narendran: i.Narendran served as the Vice President – Safety, Flat Products & Long Products Divisions of Tata Steel from 2010 till his appointmnet as MD of Tata Steel in November 2013. ii.He is also a member on the Board of Tata Steel and he is the Chairman of Tata Steel Europe. iii.He is also a member of the Council of Indian Institute of Science, Bangalore. iv.He was the co-chair of the Mining & Metals Governors Council of the World Economic Forum(WEF) from 2016 to 2018. v.He served as the President of the Indian Institute of Metals from 2021 to 2022 and as President of the Confederation of Indian Industry (CII) from 2021 to 2022. About World Steel Association(worldsteel): Worldsteel was founded as the International Iron and Steel Institute on 10 July 1967 and renamed as Worldsteel in 2008. This represents steel producers, national and regional steel industry associations, and steel research institutes. Its Members represent around 85% of global steel production. Director General– Edwin Basson Headquarters– Brussels, Belgium
India’s HAL, France’s Safran ink MoU to Manufacture Commercial Engine PartsOn October 27, 2023, a memorandum of understanding (MoU) was signed between Hindustan Aeronautics Limited (HAL) and Safran Aircraft Engines, a French aerospace engine manufacturer, to develop industrial cooperation in ring forging manufacturing for commercial engines. Note: HAL is a Navaratna Status Public Sector Undertaking (PSU) under the Ministry of Defence(MoD). Signatories: It was signed by MihirKantiMishra, CEO (Bangalore Complex) of HAL, and Dominique Dupuy, Senior Vice-President (Purchasing) of Safran Aircraft Engines during a ceremony at Bengaluru, Karnataka. What will be done under the MoU? HAL will produce LEAP (Leading Edge Aviation Propulsion) engine forgings at its foundry and forge facility in Bengaluru.
LEAP powers the Airbus A320 Neo family and Boeing 737 Max.
Key Points: i.An Industrial Cooperation Contract was also signed by Anil Kumar VN, GM (F&F) of HAL, and Jean Michel, Strategy Director and India Development for Safran Military Division to further strengthen this strategic partnership. ii.Safran already has three production facilities in India (between Hyderabad, Telangana and Bengaluru), which will be completed by a fourth site at Hyderabad dedicated to the LEAP MRO activities by 2025.
The Helicopter Engine MRO (HE-MRO) facility being developed in Goa jointly with HAL will be 5th Safran facility in India. This will become operational by 2025.
About Hindustan Aeronautics Ltd. (HAL): Chairman and Managing Director (Additional Charge)– CB Ananthakrishnan Headquarters– Bengaluru, Karnataka Establishment– 1964 About Safran Aircraft Engines: CEO– Jean-Paul Alary Headquarters– Paris, France
Ex-Union Minister BabanraoDhakne Passed AwayBabanraoDhakne, Former Union Minister and senior politician, passed away in Ahmednagar, Maharashtra at the age of 86. He was born on 10 November 1937 in Akola, Ahmednagar in Maharashtra.
He served as the Union State Minister in the Ministry of Energy (1990 to 1991) under the primership of Chandra Shekhar (8th Prime Minister of India – 1990 to 1991)
About BabanraoDhakne: Babanrao Dhakne served as the Member of Parliament(MP) as a part of the 9th Lok Sabha. He represented Beed constituency of Maharashtra as a member of Janata Dal (JD).
He was the 1st person of Vanjari Community to become the member of the 9th Lok Sabha.
Political affiliation: i.He was associated withIndian National Congress (INC) (Undivided) till 1969 and served as President of Janara Party (JP), Maharashtra from 1978 to 1980. ii.He also served as the Executive Member of JP in 1979 and as Executive Member of JD Maharashtra in 1989. Career: i.He served as the Chairman of Panchayat Samiti, Pathardi in Maharashtra from 1972 to 1975. ii.He was also a State and Cabinet Minister of Maharashtra from 1978 to 1980. iii.He served as the Leader of the Opposition and Deputy Speaker in the Maharashtra Legislative Assembly from 1981-82 and 1988-89 respectively.
PM Narendra Modi Releases Three Books at Tulsi Peeth in Chitrakoot in Madhya Pradesh Prime Minister Narendra Modi released three books, including ‘Ashtadhyayi Bhashya’, ‘Ramanandacharya Charitam’, and ‘Bhagwan Shri Krishna ki Rashtraleela‘, during his visit to Tulsi Peeth in Chitrakoot, Madhya Pradesh.
The three books were written by Jagadguru Rambhadracharya of Tulsi Peeth.
Tulsi Peeth is a religious and social service institution which was established by Jagadguru Rambhadracharya in 1987 and is one of the leading publishers of Hindu religious literature.
Jagadguru Rambhadracharya awarded Padam Vibhushan in 2015 in the field of Literature and Education.
Note: Astadhyayi is a Sanskrit Treatise on grammar written in 6th to 5th century B.C. by the Sanskrit grammarian Panini.
International Animation Day 2023- October 28International Animation Day (IAD) is annually observed across the globe on 28 October to honour the birth of animation, recognised as the first public performance of projected moving images at Emile Reynaud’s ThéâtreOptique in Paris (France), on the 28th of October 1892.
28 October 2023 marks the observance of the 22nd International Animation Day.
IAD is annually coordinated and promoted by the Association Internationale du Film d’Animation (ASIFA) (International Animated Film Association). Background: i.In 2002, the Association Internationale du Film d’Animation (ASIFA) decided to observe the 28th of October every year as International Animation Day (IAD) to commemorate the birth of Animation. ii.The first IAD was observed on 28 October 2002. About Association Internationale du Film d’Animation (ASIFA): President – Deanna Morse Founded in– 1960 Headquarters– Annecy, France
Karnataka launches ‘HAWK’ centralized wildlife crime management systemThe Karnataka Forest Department, along with Wildlife Trust of India(WTI) has launched the Hostile Activity Watch Kernel (HAWK) system, a specialised software platform to monitor all aspects of forest and wildlife crime.
The initiative is supported by NTT DATA, an Information technology (IT) services provider, under its Corporate Social Responsibility(CSR) programme.
Background: i.HAWK has been an official system of the Kerala Forest Department since it was launched in 2019. ii.In 2022, The implementation of a customised version of HAWK began in Karnataka in collaboration with the Karnataka forest department’s ICT (Information and Communication Technology) cell. About HAWK: i.HAWK is a cloud-based information Management System designed to manage interlinked databases of wildlife crime, wildlife criminals, and wildlife mortality.
It helps officials to analyse the information and develop actionable intelligence to prevent wildlife crimes.
It acts as a tool in catching poachers and smugglers slipping past state borders and boosts the forest department’s legal arm by expediting the process to ensure conviction.
ii.The system connects the entire state forest department in real-time and the access is restricted through access levels.
Frontline forest staff will be trained to use the system and a dedicated helpdesk will assist them in the integration process under the supervision of the Chief Wildlife Warden’s office.
iii.The platform will be available on mobile through which forest personnel can monitor the movement of suspects, vehicles, and live responses and exchange intelligence with their counterparts in the neighbouring states. Note: The Wildlife Crime Control Bureau(WCCB) under the Ministry of Environment and Forests, is in the process of taking HAWK as the national wildlife crime management system. About Karnataka: Chief Minister – Siddaramaiah Governor – Thaawar Chand Gehlot Tiger Reserve – Biligiri Ranganathaswamy Temple (BRT) Tiger Reserve, Bandipur Tiger Reserve Festivals – Hampi Festival,Karaga Festival
Indigenous ATMAS inaugurated at Biju Patnaik Airport, Odisha The Indigenously built state of the art Air Traffic Management Automation System (ATMAS) at the Biju Patnaik International Airport, in Bhubaneswar, Odisha. The ATMAS was jointly developed by Airports Authority of India (AAI) and Bharat Electronics Limited (BEL).
The MoU for the development of the indigenous ATMAS was signed during the Wings India 2022 in Hyderabad, Telangana in 2022.
Kerala Becomes the First State to Have Hallmarking Centres in All DistrictsKerala has become the first state in India to have hallmarking centers in all of its 14 districts. This was achieved after the inauguration of a hallmarking center in Adimali, Idukki district, Kerala.
This will make Kerala a hub of gold business and strengthen its claim to being the most reliable market in India.
Kerala Gold Business: i.The gold business in Kerala is worth more than Rs 1 lakh crore with annual sales of around 250 tonnes. ii.In Kerala, there are about 12,000 gold merchants and majority of them are holding Bureau of Indian Standards (BIS) registration. Hallmarking: i.Hallmarking is a system of certifying the purity of gold and silver jewellery/artefacts in India. ii.The hallmarking system is administered by the BIS, which is the National Standard Body of India established under ‘Bureau of Indian Standards (BIS) Act 2016’. iii.The hallmark will contain the purity of the metal, the name of the assaying and hallmarking center, and a unique identification number.
BIS hallmarking is voluntary for gold jewellery below 2 grams in weight, but it is compulsory for all gold jewellery above 2 grams in weight.
HUID number: i.Intoduced in 2021, Hallmark Unique Identification (HUID) number is a six digit Alphanumeric code. ii.HUID will be given to every piece of jewellery at the time of hallmarking and it is unique for every piece of jewellery. iii.The jewellery is stamped with the unique number manually at the Assaying & Hallmarking centre. iv.Consumers can use the HUID to track their jewellery online and verify its purity.
RCS-UDAN Scheme Successful Completes 6th Year in 2023The Regional Connectivity Scheme (RCS) – UDAN (Ude Desh Ka Aam Nagrik i.e. let the country’s common man fly) Scheme which focuses on improving unserved air routes in underserved regions of India, completes 6th year in 2023.
The RCS-UDAN scheme was launched as part of the National Civil Aviation Policy (NCAP) 2016 by the Ministry of Civil Aviation (MoCA) on October 21, 2016, with a 10-year vision.
The first RCS-UDAN flight was inaugurated by Prime Minister (PM) Narendra Modi on 27th April 2017, connecting Shimla(Himachal Pradesh) to Delhi.
About the RCS –UDANScheme: i.The RCS -UDAN Scheme was launched to promote regional air connectivity by making flying affordable for the common citizens. ii.It encourages airlines to operate flights on regional and remote routes by enabling policies and extending incentives from the Central Government and State Governments.
The government also provides financial Viability Gap Funding (VGF) support to airlines operating on UDAN routes.
Salient features of the scheme: i.RCS-UDAN is contributing to the growth of the civil aviation industry as four new & successful airlines have come up in the last 6 years.
The scheme has helped airline operators to start up and develop a sustainable business model.
ii.Promoting tourism: It promotes tourism by connecting destinations such as Khajuraho(Madhya Pradesh), Deoghar(Jharkhand), Amritsar(Punjab), and Kishangarh (Ajmer – Rajasthan) with bigger cities.
UDAN upsurge Northeast region’s tourism industry by introducing accessibility to Pasighat, Ziro, Hollongi, and Tezu airports in Arunachal Pradesh.
It boosts air connectivity by operationalizing 75 airports including Eight airports in the Northeast region.
iii. Boosting air connectivity: Totally 499 UDAN routes have been operationalized as of 17th October 2023.
RCS-UDAN has facilitated the travel of over 1.3 crore passengers so far.
The airports that were operationalized under UDAN such as Darbhanga(Bihar), Hubli(Karnataka), Kannur(Kerala) and Mysuru(Karnataka) have become sustainable with many non-RCS commercial flights operating from these airports.
Versions of the Scheme: i.Since 2016, various versions of the RCS-UDAN Scheme have been launched including UDAN 1.0, UDAN 2.0, UDAN 3.0, UDAN 4.0, UDAN 5.0, UDAN 5.1, and UDAN 5.2. ii.UDAN 5.0 was launched in 2023 and is aimed at Category-2 (20-80 seat) and Category-3 (>80 seat) aircraft. iii.UDAN 5.1 is specifically intended for helicopter routes, broadening the scope of operations for helicopter operators, improving VGF, and lowering Airfare Caps. iv.Bidding for the UDAN 5.2 is currently underway in order to improve connectivity to remote and regional areas of the country, provide last-mile connectivity, and offer impetus to the tourism sector via small aircraft (20 seats).
AP’s Indian Red Cross Society signs MoU with NCC to Enroll NCC students as YRC Volunteer The Indian Red Cross Society (IRCS), Andhra Pradesh(AP), has signed a first of its kind Memorandum of Understanding (MoU) with the National Cadet Corps (NCC) to enroll NCC students as Youth Red Cross(YRC) Volunteers in Andhra Pradesh(AP).
Signatories: V.M. Reddy, Air Commodore and Deputy Director General of NCC (AP and Telangana) and A.K. Parida, General Secretary of Indian Red Cross Society, A.P. State branch, signed an MoU in Andhra Loyola College (ALC) at Vijayawada(AP).
Under this MoU, the IRSC AP will instruct NCC cadets in first aid, CPR, and disaster relief. NCC Cadets will be encouraged to donate blood in times of need and to participate in environmental activities to combat climate change.
As a YRC Volunteer, NCC students will extend services during emergencies in AP.
IAF Signs Contract with Indian Manufacturer for Procurement of Automatic Weather Stations The Indian Air Force(IAF)has signed a contract with an Indian manufacturer for the procurement of automatic weather stations at 82 IAF locations.
This technology advancement will significantly improve aerospace safety by providing real-time weather updates throughout flight operations and training.
This procurement is especially crucial for India’s strategic positions, including Daulat Beg Oldie(Ladakh), the highest airstrip at 16,700 feet, as well as Fukche and Nyoma in Ladakh, which have been approved for conversion into fully operational fighter bases.
This procurement will also help several advanced landing grounds (ALGS) in Ladakh, including Tuting, Vijaynagar, Walong, Ziro, and Tawang, as well as various high-altitude helipads.
Note: The measurement of meteorological characteristics such as ambient temperature, wind speed, wind direction, humidity, and atmospheric pressure is critical for safe aircraft and helicopter landings and takeoffs.
India-EU’s First Joint Naval Exercise Held in Gulf of GuineaIndia and the European Union(EU) conducted their first joint naval exercise in the Gulf of Guinea on 24th October 2023. The exercise was designed to uphold the United Nations Convention on the Law of the Sea (UNCLOS).
The exercise took place after the third meeting of the EU-India Maritime Security Dialogue, which was held in Brussels on October 5, 2023.
Participated Ships: i.The exercise involved the Indian Navy’s Offshore Patrol Vessel Indian Naval Ship (INS) Sumedha ii.Ships of 3 EU member states(Italy, France and Spain) also participated the exercise. They are:
Italian Ship Foscari – Italian Navy
French Ship(FS) Ventôse – French Navy
Spanish Ship Tornado – Spanish Navy.
Activities Carried Out: i.The exercise included a variety of activities, including tactical maneuvers, boarding exercises, and flying exercises using the helicopters embarked on FS Ventôse and INS Sumedha and the transfer of personnel between ships. ii.It was designed to reinforce naval maritime security cooperation in support of the region. iii.These activities showcase the shared commitment of India and the EU to supporting coastal States and the Yaoundé Architecture in ensuring maritime security in the Gulf of Guinea. What is Yaoundé Architecture? i.The Yaoundé Architecture is a regional framework for maritime security cooperation to prevent and prosecute illicit activities in the Gulf of Guinea. ii.It was established in 2013 by
Economic Community of West African States (ECOWAS)
Economic Community of Central African States (ECCAS)
Gulf of Guinea Commission (GGC)
iii.The Yaoundé Architecture comprises the Interregional Coordination Centre (ICC), which acts as the coordination and information-sharing hub.
ICC connects the Regional Maritime Security Centre for Central Africa (CRESMAC) and the Regional Maritime Security Centre for West Africa (CRESMAO).
Additional Info: A knowledge sharing session on the joint experience at sea to improve operational know-how was held in Accra, Ghana.
This helped to strengthen ties between Ghanaian officials and representatives from India, the EU, and EU member states.
About Ghana: President – Nana Akufo-Addo Capital – Accra Currency – Ghanaian Cedi
MobiKwik’s Zaakpay gets In-Principle Nod from RBI to Operate as Payment AggregatorReserve Bank of India(RBI) has granted in-principle authorization to MobiKwik’s payment gateway arm Zaakpay to operate as an online payment aggregator (PA).
This will enable Zaakpay to onboard new merchants onto its platform for processing online payments and scale the number of merchants associated with the startup.
Background: i.RBI rejected Mobikwik’s application for PA licence in 2021 and the same was re-applied in October 2022. ii.In 2021, the application was rejected since Mobikwik fell short of of minimum net worth threshold of Rs 15 crore.
In 2021, the net worth of Zaakpaya was at Rs 14.3 Cr, rendering it ineligible for the licence.
RBI Guidelines: In March 2020, RBI issued Guidelines on Regulation of Payment Aggregators and Payment Gateways and introduced various measures for payment aggregators operating in India. Payment Aggregators(PAs):PAs are entities that facilitate e-commerce sites and merchants to accept various payment instruments from the customers. This eliminates the need for for merchants to set up their own payment integration system PAs facilitate merchants to connect with acquirers. In this process they accept payments from customers, pool and transfer them on to the merchants after a time period. Payment Gateways(PGs):PGs are entities that provide technology infrastructure to route and facilitate processing of an online payment transaction without any involvement in handling of funds. Capital Requirements for PAs: Existing PAs: PAs should achieve a net-worth of Rs 15 crore by March 31, 2021 and a net-worth of Rs 25 crore by the end of the third financial year(March 31, 2023). New PAs: PAs shall have a minimum net-worth of Rs 15 crore at the time of application and shall attain a net-worth of Rs 25 crore by the end of third financial year of grant of authorisation. Note: The net-worth of Rs 25 crore shall be maintained at all times thereafter. Onboarding: i.Only the existing companies, which have received RBI’s in-principle approval, is allowed to onboard merchants on their platforms. ii.But, PAs such as Razorpay, PayU, Cashfree, and Paytm are being barred from onboarding new merchants, despite receiving the in-principle approval. About MobiKwik: Founders – Bipin Preet Singh and Upasana Taku Managing Director (MD) & Chief Executive Officer (CEO) – Bipin Preet Singh Headquarters – Gurugram, Haryana Established in – 2009
Bank Of Baroda Launches Bob LITE Savings Account Bank of Baroda(BoB) launched a lifetime zero-balance savings account called the Bob LITE Savings Account as a part of “BOB Ke Sang Tyohaar Ki Umang” festive campaign.
The Bob LITE Savings Account comes with a lifetime-freeRuPay Platinum debit card (subject to maintaining a quarterly average balance(QAB)).
Eligibility: The account can be opened by any resident individual, including minors (above 10 years). QAB: i.The QAB to be maintained is based in the locality. QAB will be
Rs. 3000 for Metro/Urban areas,
Rs. 2000 for Semi-Urban area
Rs. 1000 for Rural areas
ii.If QAB is not maintained, an Annual fee on the debit card will be applied as per the Bank’s guidelines. BoB Unveils Festive Campaign: i.In September 2023, BoB launched the “BOB Ke Sang Tyohaar Ki Umang” festive campaign.
The campaign will run up to 31st December 2023.
ii.As part of the campaign, BoB introduced four savings accounts catering to diverse needs:
BOB LITE Savings Account (No Minimum Balance)
BOB BRO Savings Account: Zero Balance Savings Account for Students (16 to 25 years)
My Family My Bank/BOB Parivar Account: A Comprehensive Family Savings Account
Baroda Non-Resident Indian (NRI) PowerPack Account: A Tailored Account for Non-Resident Indians
iii.BoB also introduced a recurring deposit scheme called the BOB Systematic Deposit Plan (SDP). iv.BoB has partnered with leading brands across various categories, including Electronics, Consumer Durables, Travel, Food, Fashion, Entertainment, Lifestyle, Grocery, and Health, to provide exclusive offers and discounts to its debit and credit cardholders.
This initiative aims to enhance the festive shopping experience while promoting financial prudence.
About Bank of Baroda(BoB): Managing Director (MD) & Chief Executive Officer (CEO) – Devdutt Chand Headquarters –Vadodara, Gujarat (Head office), Mumbai, Maharashtra (Corporate centre) Established in – 1908 Tagline – India’s International Bank
Sultan Ibrahim Sultan Iskandar, Ruler of Johor, Elected as 17th King of MalaysiaHis Royal Highness (HRH) Sultan Ibrahim ibni Almarhum Sultan Iskandar, the Ruler of the southern Malaysian state of Johor, was elected as the 17th King of Malaysia, also known as Yang di-Pertuan Agong (YDPA) XVII, for a term of 5 years, which will begin on 31st January 2024.
He was elected by the Conference of Rulers during its 263rd (Special) meeting held at the National Palace(Istana Negara) in Kuala Lumpur, Malaysia.
He will replace incumbent Sovereign Al-Sultan Abdullah ibni Sultan Ahmad Shah, Ruler of Pahang state, who has been serving as the 16th King since 2019. His tenure is set to end on 30th January 2024.
Significance: For the first time in over 3 decades, the Ruler of Johor has been appointed as the YDPA.
The last YDPA from Johar was the late former Johor Ruler, Sultan Iskandar Sultan Ismail, Father of Sultan Ibrahim. He served as YDPA of Malaysia from 1984 to 1989.
Other Appointment: Sultan of Perak, Sultan NazrinMuizzuddin Shah, will be appointed deputy king, for 5 years from 31 January 2024. Malaysia’s Rotational Monarchy: i.Under Malaysia’s rotational monarchy, the position of king, also known as Yang di-Pertuan Agong, and his deputy are shifted among the rulers of nine of its 13 states. ii.The King of Malaysia is elected by the Conference of Rulers, which consist of 9 hereditary ethnic Malay royals(sultans of 9 of its 13 states) iii.This system was adopted after the independence from British rule in 1957. Note: The Johor royal family dates from the early 16th century and has its own private army. About Sultan Ibrahim ibniAlmarhum Sultan Iskandar: i.Born on 22 November 1958, Sultan Ibrahim is of Malay-British descent and he is the eldest son of the late Sultan Iskandar Sultan Ismail. ii.He enlisted and trained as a Royal Malaysian Navy officer for 3 months at the RMN base in Lumut (Malaysia), making him a fully trained army, navy, and air force officer. iii.He served the State government in various offices among them the State Secretariat, the Treasury, Land Office, Town and Country Planning Department, etc. iv.His reign as Sultan of Johor began on 23 January 2010, following the demise of his father. v.He created history by gaining the Class 26 Train Driver’s License upon completing the 86-tonne locomotive round using a turn table device.
He also received acknowledgment from the Malaysia Book of Records (MBOR) as the first Malay Ruler to officially drive a train.
About Malaysia: Capital– Federal Territory of Kuala Lumpur Prime Minister– Anwar Ibrahim Currency– Malaysian Ringgit (MYR)
Govt Appoints BCG to Craft ‘Vision 2047’ Document The government of India has appointed the Boston Consulting Group (BCG), a global consulting firm, to help prepare the Vision 2047 document, outlining India’s medium-term objectives for becoming a developed economy in the next 25 years. The document will emphasise strategic measures to elevate India to a middle-income country.
The Vision 2047 document will emphasise leveraging India’s expertise in the industry, services, agriculture, trade, and human capital, along with a focus on enhancing governance systems and public goods accessibility.
Ensuring inclusive economic growth will be a pivotal component of this Vision 2047 document. The government, think tanks, and various external agencies are actively involved in shaping the vision document implementation.
The National Institution for Transforming India (NITI) Aayog is taking the lead in consolidating these diverse suggestions and inputs.
CCI Approves Rebalancing of Cross-shareholding Between Renault and NissanThe Competition Commission of India (CCI) has approved the re-balancing of the existing cross-shareholdings between Renault S.A. (Renault) and Nissan Motor Co. Ltd. (Nissan)(Rebalancing).
This also relates to the changes to the shareholding of 2 of their joint ventures(JV) Renault Nissan Automotive India Private Limited (RNAIPL) and Renault Nissan Technology & Business Centre India Private Limited (RNTBCI) in India.
Note:
RNAIPL is dedicated to manufacturing and assembly of passenger vehicles and offers related services exclusively to Renault and Nissan.
RNTBCI is a captive automotive technology and business center supporting Renault and Nissan’s Research and Development (R&D), engineering, and so on.
Details of the Re-balancing: i.As part of the Rebalancing, Nissan will maintain a 15% share in Renault through Nissan Finance Co. Ltd. (NFC). ii.Renault will transfer 28.4% of its Nissan shares to a trust estate administered by a trustee governed by French law. The entrusted shares will be voted neutrally, with few exceptions. iii.Renault will continue to benefit fully from the economic rights of the entrusted shares until their eventual sale. iv.Following this re-balancing, Renault and Nissan will have a cross-shareholding of 15% of the total issued share capital and freely exercisable voting rights in each other. Nissan: Nissan and its affiliates in India focus on the sale of passenger vehicles and automotive parts, conducted through Nissan Motor India Private Limited (NMIPL), a wholly-owned subsidiary of Nissan. Renault: Renault and its affiliate entities in India, sell automobiles and parts through its wholly-owned subsidiary Renault India Private Limited (RIPL). About Competition Commission of India (CCI): Chairperson– Ravneet Kaur Established in– 2003 Headquarters– New Delhi, Delhi
Sporanaerobiumhydrogeniformans: An Anaerobic, Hydrogen-Producing Bacterium Found in Aravali Hot Spring, Maharashtra Scientists under the Bioenergy Group at the Agharkar Research Institute (ARI) in Maharashtra, identified a New Genus of anaerobic lignocellulose-degrading bacteria called Sporanaerobiumhydrogeniformansin the hot spring of Aravali, located in Ratnagiri district (Maharashtra). This bacteria has a remarkable ability to produce hydrogen gas as a byproduct of its metabolic processes.
The hydrogen generated by this bacteria could be a source of clean and Renewable Energy. The findings are published in the journal Archives of Microbiology.
Sporanaerobium hydrogeniformans is part of the Lachnospiraceae family, renowned for its polysaccharide degradation capabilities to synthesise free or complicated hydrolytic enzymes.
Sporanaerobium hydrogeniformans is crucial for breaking down cellulose and xylan, the key components of lignocellulosic agricultural waste.
A collection of thermostable hydrolytic enzymes reported in Sporanaerobium hydrogeniformans makes the bacterium significant for use in industry.
The researchers also discovered that the bacteria can grow optimally at high temperatures of 45–50°C and an alkaline pH of 8.0.
Note:
Unlike most bacteria, this strain can simultaneously utilize hexose and pentose sugars. This unique characteristic positions the bacterium as a vital asset in the industrial production of biofuels.
ARI is an autonomous institute of the Department of Science and Technology.
Ex-RBI Governor Raghuram Rajan & Economist Rohit Lamba authored a new book “Breaking the Mould”Raghuram Rajan, Former Governor of the Reserve Bank of India (RBI), and Economist Rohit Lamba has authored a new book titled “Breaking the Mould: Reimagining India’s Economic Future”.
The book, published by Penguin Business, an imprint of Penguin Random House India (PRHI), is set to be released in December 2023.
About the book: i.Through this book, the authors provides an idea about the economic future of India. ii.The book examines crucial policy choices relevant to every Indian, offering valuable insights on economic development. iii.The book seeks to delve into some of the critical questions surrounding India’s economic trajectory. About RaghuramRajan: i.He is currently a distinguished service professor at the University of Chicago Booth School of Business, and a senior fellow (adjunct) at the Hoover Institution, the United States of America (USA). ii.He served as the 23rd Governor of the RBI from 2013 to 2016 and as vice chairman of the board of the Bank for International Settlements from 2015 to 2016. iii.He was a chief economist and director of research at the International Monetary Fund(IMF) from 2003 to 2006 and as president of the American Finance Association in 2011. iv.He is a member of the American Academy of Arts and Sciences and the Group of Thirty. Award: In January 2003, the American Finance Association awarded him the inaugural Fischer Black Prize for the best finance researcher under the age of 40. Books: The Third Pillar: How Markets and the State Leave the Community Behind (2019); I Do What I Do: On Reform, Rhetoric, and Resolve (2018); Saving Capitalism from the Capitalists with Luigi Zingales (Co-author) (2003) About RohitLamba: i.Rohit Lamba is a Assistant Professor of Economics at the The Pennsylvania State University (since 2015) ii.He was a visiting assistant professor of economics at the University of Pennsylvania from 2018-19. ii.He served as the office of the Chief Economic Advisor, Government of India from 2012-2013, and in 2014. Books: Industrial Policy Redux (2023); Has India really become a mobile phone manufacturing giant? (Co-author) (2023); How services can create next wave of India’s globalisation (Co-authored with Raghuram Rajan)(2023).
International Dwarfism Awareness Day 2023 – October 25International Dwarfism Awareness Day, also known as World Dwarfism Day, is annually observed across the globe on 25th October to raise awareness about achondroplasia, a bone growth disorder that causes dwarfism due to a genetic mutation in the arms and legs.
25th October 2023 marks the observance of 12th International Dwarfism Awareness Day.
What is Dwarfism? i.Dwarfism is a group of conditions that cause short stature. It is generally defined as an adult height of 4 feet 10 inches (147 centimeters) or less. They have short arms and legs in comparison to the head and trunk. ii.There are over 200 different types of dwarfism, each caused by a different genetic or medical condition. iii.Achondroplasia is a Greek word meaning “without cartilage formation”. This is one of the most common causes of dwarfism. Background: i.International Dwarfism Awareness Day was established by ‘Little People of America(LPA)’ to commemorate the birth anniversary of Billy Barty(born as William John Bertanzetti), an American actor who had dwarfism(achondroplasia). ii.The first International Dwarfism Awareness Day was observed on 25th October 2012. About Billy Barty: i.Billy Barty was born on 25th October 1924 in Millsboro, Pennsylvania, United States of America (USA). ii.He appeared in over 200 films and television shows, and was a tireless advocate for people with dwarfism. iii.In 1957, Billy Barty founded LPA, a non-profit organization that provides support, resources, and information to people of short stature and their families. Observance in India: i.International Dwarfism Awareness Day is observed in India by the Department of Empowerment of Persons with Disabilities (DEPwD) under the Ministry of Social Justice and Empowerment(MoSJ&E). ii.DEPwD conducted various activities like Awareness Programmes, Interview sessions, poster making, Webinars and Panel Discussion at more than 20 places across India.
World Day for Audiovisual Heritage 2023- October 27The United Nations (UN) World Day for Audiovisual Heritage (WDAH) is annually observed across the globe on 27 October to remind us of the significance of archiving and preserving Audiovisual (AV) sources, and to honour the AV preservation professionals and institutions that safeguard our heritage for future generations.
The 2023 theme of WDAH is “Your Window to the World”.
WDAH celebration is a key initiative of the United Nations Educational, Scientific and Cultural Organization (UNESCO) and the Coordinating Council of Audiovisual Archives Associations (CCAAA). Background: i.In 2005, UNESCO adopted the resolution (33 C/Resolution 53) during the 33rd session of the UNESCO General Conference held in Paris, France, and proclaimed the 27 October of every year as the World Day for Audiovisual Heritage (WDAH). ii.The resolution also commemorated the 25th anniversary of the adoption of the Recommendation for the Safeguarding and Preservation of Moving Images. ii.The first-ever WDAH was observed on 27 October 2006.
77th Infantry Day – 27th October 2023 Infantry Day is annually observed across the nation on 27th October by Indian Army to commemorate the contributions of the Infantry, the largest fighting arm of the Indian Army.
Kerala Becomes the First State to Have Hallmarking Centres in All DistrictsKerala has become the first state in India to have hallmarking centers in all of its 14 districts. This was achieved after the inauguration of a hallmarking center in Adimali, Idukki district, Kerala.
This will make Kerala a hub of gold business and strengthen its claim to being the most reliable market in India.
Kerala Gold Business: i.The gold business in Kerala is worth more than Rs 1 lakh crore with annual sales of around 250 tonnes. ii.In Kerala, there are about 12,000 gold merchants and majority of them are holding Bureau of Indian Standards (BIS) registration. Hallmarking: i.Hallmarking is a system of certifying the purity of gold and silver jewellery/artefacts in India. ii.The hallmarking system is administered by the BIS, which is the National Standard Body of India established under ‘Bureau of Indian Standards (BIS) Act 2016’. iii.The hallmark will contain the purity of the metal, the name of the assaying and hallmarking center, and a unique identification number.
BIS hallmarking is voluntary for gold jewellery below 2 grams in weight, but it is compulsory for all gold jewellery above 2 grams in weight.
HUID number: i.Intoduced in 2021, Hallmark Unique Identification (HUID) number is a six digit Alphanumeric code. ii.HUID will be given to every piece of jewellery at the time of hallmarking and it is unique for every piece of jewellery. iii.The jewellery is stamped with the unique number manually at the Assaying & Hallmarking centre. iv.Consumers can use the HUID to track their jewellery online and verify its purity.
RCS-UDAN Scheme Successful Completes 6th Year in 2023The Regional Connectivity Scheme (RCS) – UDAN (Ude Desh Ka Aam Nagrik i.e. let the country’s common man fly) Scheme which focuses on improving unserved air routes in underserved regions of India, completes 6th year in 2023.
The RCS-UDAN scheme was launched as part of the National Civil Aviation Policy (NCAP) 2016 by the Ministry of Civil Aviation (MoCA) on October 21, 2016, with a 10-year vision.
The first RCS-UDAN flight was inaugurated by Prime Minister (PM) Narendra Modi on 27th April 2017, connecting Shimla(Himachal Pradesh) to Delhi.
About the RCS –UDANScheme: i.The RCS -UDAN Scheme was launched to promote regional air connectivity by making flying affordable for the common citizens. ii.It encourages airlines to operate flights on regional and remote routes by enabling policies and extending incentives from the Central Government and State Governments.
The government also provides financial Viability Gap Funding (VGF) support to airlines operating on UDAN routes.
Salient features of the scheme: i.RCS-UDAN is contributing to the growth of the civil aviation industry as four new & successful airlines have come up in the last 6 years.
The scheme has helped airline operators to start up and develop a sustainable business model.
ii.Promoting tourism: It promotes tourism by connecting destinations such as Khajuraho(Madhya Pradesh), Deoghar(Jharkhand), Amritsar(Punjab), and Kishangarh (Ajmer – Rajasthan) with bigger cities.
UDAN upsurge Northeast region’s tourism industry by introducing accessibility to Pasighat, Ziro, Hollongi, and Tezu airports in Arunachal Pradesh.
It boosts air connectivity by operationalizing 75 airports including Eight airports in the Northeast region.
iii. Boosting air connectivity: Totally 499 UDAN routes have been operationalized as of 17th October 2023.
RCS-UDAN has facilitated the travel of over 1.3 crore passengers so far.
The airports that were operationalized under UDAN such as Darbhanga(Bihar), Hubli(Karnataka), Kannur(Kerala) and Mysuru(Karnataka) have become sustainable with many non-RCS commercial flights operating from these airports.
Versions of the Scheme: i.Since 2016, various versions of the RCS-UDAN Scheme have been launched including UDAN 1.0, UDAN 2.0, UDAN 3.0, UDAN 4.0, UDAN 5.0, UDAN 5.1, and UDAN 5.2. ii.UDAN 5.0 was launched in 2023 and is aimed at Category-2 (20-80 seat) and Category-3 (>80 seat) aircraft. iii.UDAN 5.1 is specifically intended for helicopter routes, broadening the scope of operations for helicopter operators, improving VGF, and lowering Airfare Caps. iv.Bidding for the UDAN 5.2 is currently underway in order to improve connectivity to remote and regional areas of the country, provide last-mile connectivity, and offer impetus to the tourism sector via small aircraft (20 seats).
AP’s Indian Red Cross Society signs MoU with NCC to Enroll NCC students as YRC Volunteer The Indian Red Cross Society (IRCS), Andhra Pradesh(AP), has signed a first of its kind Memorandum of Understanding (MoU) with the National Cadet Corps (NCC) to enroll NCC students as Youth Red Cross(YRC) Volunteers in Andhra Pradesh(AP).
Signatories: V.M. Reddy, Air Commodore and Deputy Director General of NCC (AP and Telangana) and A.K. Parida, General Secretary of Indian Red Cross Society, A.P. State branch, signed an MoU in Andhra Loyola College (ALC) at Vijayawada(AP).
Under this MoU, the IRSC AP will instruct NCC cadets in first aid, CPR, and disaster relief. NCC Cadets will be encouraged to donate blood in times of need and to participate in environmental activities to combat climate change.
As a YRC Volunteer, NCC students will extend services during emergencies in AP.
IAF Signs Contract with Indian Manufacturer for Procurement of Automatic Weather Stations The Indian Air Force(IAF)has signed a contract with an Indian manufacturer for the procurement of automatic weather stations at 82 IAF locations.
This technology advancement will significantly improve aerospace safety by providing real-time weather updates throughout flight operations and training.
This procurement is especially crucial for India’s strategic positions, including Daulat Beg Oldie(Ladakh), the highest airstrip at 16,700 feet, as well as Fukche and Nyoma in Ladakh, which have been approved for conversion into fully operational fighter bases.
This procurement will also help several advanced landing grounds (ALGS) in Ladakh, including Tuting, Vijaynagar, Walong, Ziro, and Tawang, as well as various high-altitude helipads.
Note: The measurement of meteorological characteristics such as ambient temperature, wind speed, wind direction, humidity, and atmospheric pressure is critical for safe aircraft and helicopter landings and takeoffs.
India-EU’s First Joint Naval Exercise Held in Gulf of GuineaIndia and the European Union(EU) conducted their first joint naval exercise in the Gulf of Guinea on 24th October 2023. The exercise was designed to uphold the United Nations Convention on the Law of the Sea (UNCLOS).
The exercise took place after the third meeting of the EU-India Maritime Security Dialogue, which was held in Brussels on October 5, 2023.
Participated Ships: i.The exercise involved the Indian Navy’s Offshore Patrol Vessel Indian Naval Ship (INS) Sumedha ii.Ships of 3 EU member states(Italy, France and Spain) also participated the exercise. They are:
Italian Ship Foscari – Italian Navy
French Ship(FS) Ventôse – French Navy
Spanish Ship Tornado – Spanish Navy.
Activities Carried Out: i.The exercise included a variety of activities, including tactical maneuvers, boarding exercises, and flying exercises using the helicopters embarked on FS Ventôse and INS Sumedha and the transfer of personnel between ships. ii.It was designed to reinforce naval maritime security cooperation in support of the region. iii.These activities showcase the shared commitment of India and the EU to supporting coastal States and the Yaoundé Architecture in ensuring maritime security in the Gulf of Guinea. What is Yaoundé Architecture? i.The Yaoundé Architecture is a regional framework for maritime security cooperation to prevent and prosecute illicit activities in the Gulf of Guinea. ii.It was established in 2013 by
Economic Community of West African States (ECOWAS)
Economic Community of Central African States (ECCAS)
Gulf of Guinea Commission (GGC)
iii.The Yaoundé Architecture comprises the Interregional Coordination Centre (ICC), which acts as the coordination and information-sharing hub.
ICC connects the Regional Maritime Security Centre for Central Africa (CRESMAC) and the Regional Maritime Security Centre for West Africa (CRESMAO).
Additional Info: A knowledge sharing session on the joint experience at sea to improve operational know-how was held in Accra, Ghana.
This helped to strengthen ties between Ghanaian officials and representatives from India, the EU, and EU member states.
About Ghana: President – Nana Akufo-Addo Capital – Accra Currency – Ghanaian Cedi
MobiKwik’s Zaakpay gets In-Principle Nod from RBI to Operate as Payment AggregatorReserve Bank of India(RBI) has granted in-principle authorization to MobiKwik’s payment gateway arm Zaakpay to operate as an online payment aggregator (PA).
This will enable Zaakpay to onboard new merchants onto its platform for processing online payments and scale the number of merchants associated with the startup.
Background: i.RBI rejected Mobikwik’s application for PA licence in 2021 and the same was re-applied in October 2022. ii.In 2021, the application was rejected since Mobikwik fell short of of minimum net worth threshold of Rs 15 crore.
In 2021, the net worth of Zaakpaya was at Rs 14.3 Cr, rendering it ineligible for the licence.
RBI Guidelines: In March 2020, RBI issued Guidelines on Regulation of Payment Aggregators and Payment Gateways and introduced various measures for payment aggregators operating in India. Payment Aggregators(PAs):PAs are entities that facilitate e-commerce sites and merchants to accept various payment instruments from the customers. This eliminates the need for for merchants to set up their own payment integration system PAs facilitate merchants to connect with acquirers. In this process they accept payments from customers, pool and transfer them on to the merchants after a time period. Payment Gateways(PGs):PGs are entities that provide technology infrastructure to route and facilitate processing of an online payment transaction without any involvement in handling of funds. Capital Requirements for PAs: Existing PAs: PAs should achieve a net-worth of Rs 15 crore by March 31, 2021 and a net-worth of Rs 25 crore by the end of the third financial year(March 31, 2023). New PAs: PAs shall have a minimum net-worth of Rs 15 crore at the time of application and shall attain a net-worth of Rs 25 crore by the end of third financial year of grant of authorisation. Note: The net-worth of Rs 25 crore shall be maintained at all times thereafter. Onboarding: i.Only the existing companies, which have received RBI’s in-principle approval, is allowed to onboard merchants on their platforms. ii.But, PAs such as Razorpay, PayU, Cashfree, and Paytm are being barred from onboarding new merchants, despite receiving the in-principle approval. About MobiKwik: Founders – Bipin Preet Singh and Upasana Taku Managing Director (MD) & Chief Executive Officer (CEO) – Bipin Preet Singh Headquarters – Gurugram, Haryana Established in – 2009
Bank Of Baroda Launches Bob LITE Savings Account Bank of Baroda(BoB) launched a lifetime zero-balance savings account called the Bob LITE Savings Account as a part of “BOB Ke Sang Tyohaar Ki Umang” festive campaign.
The Bob LITE Savings Account comes with a lifetime-freeRuPay Platinum debit card (subject to maintaining a quarterly average balance(QAB)).
Eligibility: The account can be opened by any resident individual, including minors (above 10 years). QAB: i.The QAB to be maintained is based in the locality. QAB will be
Rs. 3000 for Metro/Urban areas,
Rs. 2000 for Semi-Urban area
Rs. 1000 for Rural areas
ii.If QAB is not maintained, an Annual fee on the debit card will be applied as per the Bank’s guidelines. BoB Unveils Festive Campaign: i.In September 2023, BoB launched the “BOB Ke Sang Tyohaar Ki Umang” festive campaign.
The campaign will run up to 31st December 2023.
ii.As part of the campaign, BoB introduced four savings accounts catering to diverse needs:
BOB LITE Savings Account (No Minimum Balance)
BOB BRO Savings Account: Zero Balance Savings Account for Students (16 to 25 years)
My Family My Bank/BOB Parivar Account: A Comprehensive Family Savings Account
Baroda Non-Resident Indian (NRI) PowerPack Account: A Tailored Account for Non-Resident Indians
iii.BoB also introduced a recurring deposit scheme called the BOB Systematic Deposit Plan (SDP). iv.BoB has partnered with leading brands across various categories, including Electronics, Consumer Durables, Travel, Food, Fashion, Entertainment, Lifestyle, Grocery, and Health, to provide exclusive offers and discounts to its debit and credit cardholders.
This initiative aims to enhance the festive shopping experience while promoting financial prudence.
About Bank of Baroda(BoB): Managing Director (MD) & Chief Executive Officer (CEO) – Devdutt Chand Headquarters –Vadodara, Gujarat (Head office), Mumbai, Maharashtra (Corporate centre) Established in – 1908 Tagline – India’s International Bank
Sultan Ibrahim Sultan Iskandar, Ruler of Johor, Elected as 17th King of MalaysiaHis Royal Highness (HRH) Sultan Ibrahim ibni Almarhum Sultan Iskandar, the Ruler of the southern Malaysian state of Johor, was elected as the 17th King of Malaysia, also known as Yang di-Pertuan Agong (YDPA) XVII, for a term of 5 years, which will begin on 31st January 2024.
He was elected by the Conference of Rulers during its 263rd (Special) meeting held at the National Palace(Istana Negara) in Kuala Lumpur, Malaysia.
He will replace incumbent Sovereign Al-Sultan Abdullah ibni Sultan Ahmad Shah, Ruler of Pahang state, who has been serving as the 16th King since 2019. His tenure is set to end on 30th January 2024.
Significance: For the first time in over 3 decades, the Ruler of Johor has been appointed as the YDPA.
The last YDPA from Johar was the late former Johor Ruler, Sultan Iskandar Sultan Ismail, Father of Sultan Ibrahim. He served as YDPA of Malaysia from 1984 to 1989.
Other Appointment: Sultan of Perak, Sultan NazrinMuizzuddin Shah, will be appointed deputy king, for 5 years from 31 January 2024. Malaysia’s Rotational Monarchy: i.Under Malaysia’s rotational monarchy, the position of king, also known as Yang di-Pertuan Agong, and his deputy are shifted among the rulers of nine of its 13 states. ii.The King of Malaysia is elected by the Conference of Rulers, which consist of 9 hereditary ethnic Malay royals(sultans of 9 of its 13 states) iii.This system was adopted after the independence from British rule in 1957. Note: The Johor royal family dates from the early 16th century and has its own private army. About Sultan Ibrahim ibniAlmarhum Sultan Iskandar: i.Born on 22 November 1958, Sultan Ibrahim is of Malay-British descent and he is the eldest son of the late Sultan Iskandar Sultan Ismail. ii.He enlisted and trained as a Royal Malaysian Navy officer for 3 months at the RMN base in Lumut (Malaysia), making him a fully trained army, navy, and air force officer. iii.He served the State government in various offices among them the State Secretariat, the Treasury, Land Office, Town and Country Planning Department, etc. iv.His reign as Sultan of Johor began on 23 January 2010, following the demise of his father. v.He created history by gaining the Class 26 Train Driver’s License upon completing the 86-tonne locomotive round using a turn table device.
He also received acknowledgment from the Malaysia Book of Records (MBOR) as the first Malay Ruler to officially drive a train.
About Malaysia: Capital– Federal Territory of Kuala Lumpur Prime Minister– Anwar Ibrahim Currency– Malaysian Ringgit (MYR)
Govt Appoints BCG to Craft ‘Vision 2047’ Document The government of India has appointed the Boston Consulting Group (BCG), a global consulting firm, to help prepare the Vision 2047 document, outlining India’s medium-term objectives for becoming a developed economy in the next 25 years. The document will emphasise strategic measures to elevate India to a middle-income country.
The Vision 2047 document will emphasise leveraging India’s expertise in the industry, services, agriculture, trade, and human capital, along with a focus on enhancing governance systems and public goods accessibility.
Ensuring inclusive economic growth will be a pivotal component of this Vision 2047 document. The government, think tanks, and various external agencies are actively involved in shaping the vision document implementation.
The National Institution for Transforming India (NITI) Aayog is taking the lead in consolidating these diverse suggestions and inputs.
CCI Approves Rebalancing of Cross-shareholding Between Renault and NissanThe Competition Commission of India (CCI) has approved the re-balancing of the existing cross-shareholdings between Renault S.A. (Renault) and Nissan Motor Co. Ltd. (Nissan)(Rebalancing).
This also relates to the changes to the shareholding of 2 of their joint ventures(JV) Renault Nissan Automotive India Private Limited (RNAIPL) and Renault Nissan Technology & Business Centre India Private Limited (RNTBCI) in India.
Note:
RNAIPL is dedicated to manufacturing and assembly of passenger vehicles and offers related services exclusively to Renault and Nissan.
RNTBCI is a captive automotive technology and business center supporting Renault and Nissan’s Research and Development (R&D), engineering, and so on.
Details of the Re-balancing: i.As part of the Rebalancing, Nissan will maintain a 15% share in Renault through Nissan Finance Co. Ltd. (NFC). ii.Renault will transfer 28.4% of its Nissan shares to a trust estate administered by a trustee governed by French law. The entrusted shares will be voted neutrally, with few exceptions. iii.Renault will continue to benefit fully from the economic rights of the entrusted shares until their eventual sale. iv.Following this re-balancing, Renault and Nissan will have a cross-shareholding of 15% of the total issued share capital and freely exercisable voting rights in each other. Nissan: Nissan and its affiliates in India focus on the sale of passenger vehicles and automotive parts, conducted through Nissan Motor India Private Limited (NMIPL), a wholly-owned subsidiary of Nissan. Renault: Renault and its affiliate entities in India, sell automobiles and parts through its wholly-owned subsidiary Renault India Private Limited (RIPL). About Competition Commission of India (CCI): Chairperson– Ravneet Kaur Established in– 2003 Headquarters– New Delhi, Delhi
Sporanaerobiumhydrogeniformans: An Anaerobic, Hydrogen-Producing Bacterium Found in Aravali Hot Spring, Maharashtra Scientists under the Bioenergy Group at the Agharkar Research Institute (ARI) in Maharashtra, identified a New Genus of anaerobic lignocellulose-degrading bacteria called Sporanaerobiumhydrogeniformansin the hot spring of Aravali, located in Ratnagiri district (Maharashtra). This bacteria has a remarkable ability to produce hydrogen gas as a byproduct of its metabolic processes.
The hydrogen generated by this bacteria could be a source of clean and Renewable Energy. The findings are published in the journal Archives of Microbiology.
Sporanaerobium hydrogeniformans is part of the Lachnospiraceae family, renowned for its polysaccharide degradation capabilities to synthesise free or complicated hydrolytic enzymes.
Sporanaerobium hydrogeniformans is crucial for breaking down cellulose and xylan, the key components of lignocellulosic agricultural waste.
A collection of thermostable hydrolytic enzymes reported in Sporanaerobium hydrogeniformans makes the bacterium significant for use in industry.
The researchers also discovered that the bacteria can grow optimally at high temperatures of 45–50°C and an alkaline pH of 8.0.
Note:
Unlike most bacteria, this strain can simultaneously utilize hexose and pentose sugars. This unique characteristic positions the bacterium as a vital asset in the industrial production of biofuels.
ARI is an autonomous institute of the Department of Science and Technology.
Ex-RBI Governor Raghuram Rajan & Economist Rohit Lamba authored a new book “Breaking the Mould”Raghuram Rajan, Former Governor of the Reserve Bank of India (RBI), and Economist Rohit Lamba has authored a new book titled “Breaking the Mould: Reimagining India’s Economic Future”.
The book, published by Penguin Business, an imprint of Penguin Random House India (PRHI), is set to be released in December 2023.
About the book: i.Through this book, the authors provides an idea about the economic future of India. ii.The book examines crucial policy choices relevant to every Indian, offering valuable insights on economic development. iii.The book seeks to delve into some of the critical questions surrounding India’s economic trajectory. About RaghuramRajan: i.He is currently a distinguished service professor at the University of Chicago Booth School of Business, and a senior fellow (adjunct) at the Hoover Institution, the United States of America (USA). ii.He served as the 23rd Governor of the RBI from 2013 to 2016 and as vice chairman of the board of the Bank for International Settlements from 2015 to 2016. iii.He was a chief economist and director of research at the International Monetary Fund(IMF) from 2003 to 2006 and as president of the American Finance Association in 2011. iv.He is a member of the American Academy of Arts and Sciences and the Group of Thirty. Award: In January 2003, the American Finance Association awarded him the inaugural Fischer Black Prize for the best finance researcher under the age of 40. Books: The Third Pillar: How Markets and the State Leave the Community Behind (2019); I Do What I Do: On Reform, Rhetoric, and Resolve (2018); Saving Capitalism from the Capitalists with Luigi Zingales (Co-author) (2003) About RohitLamba: i.Rohit Lamba is a Assistant Professor of Economics at the The Pennsylvania State University (since 2015) ii.He was a visiting assistant professor of economics at the University of Pennsylvania from 2018-19. ii.He served as the office of the Chief Economic Advisor, Government of India from 2012-2013, and in 2014. Books: Industrial Policy Redux (2023); Has India really become a mobile phone manufacturing giant? (Co-author) (2023); How services can create next wave of India’s globalisation (Co-authored with Raghuram Rajan)(2023).
International Dwarfism Awareness Day 2023 – October 25International Dwarfism Awareness Day, also known as World Dwarfism Day, is annually observed across the globe on 25th October to raise awareness about achondroplasia, a bone growth disorder that causes dwarfism due to a genetic mutation in the arms and legs.
25th October 2023 marks the observance of 12th International Dwarfism Awareness Day.
What is Dwarfism? i.Dwarfism is a group of conditions that cause short stature. It is generally defined as an adult height of 4 feet 10 inches (147 centimeters) or less. They have short arms and legs in comparison to the head and trunk. ii.There are over 200 different types of dwarfism, each caused by a different genetic or medical condition. iii.Achondroplasia is a Greek word meaning “without cartilage formation”. This is one of the most common causes of dwarfism. Background: i.International Dwarfism Awareness Day was established by ‘Little People of America(LPA)’ to commemorate the birth anniversary of Billy Barty(born as William John Bertanzetti), an American actor who had dwarfism(achondroplasia). ii.The first International Dwarfism Awareness Day was observed on 25th October 2012. About Billy Barty: i.Billy Barty was born on 25th October 1924 in Millsboro, Pennsylvania, United States of America (USA). ii.He appeared in over 200 films and television shows, and was a tireless advocate for people with dwarfism. iii.In 1957, Billy Barty founded LPA, a non-profit organization that provides support, resources, and information to people of short stature and their families. Observance in India: i.International Dwarfism Awareness Day is observed in India by the Department of Empowerment of Persons with Disabilities (DEPwD) under the Ministry of Social Justice and Empowerment(MoSJ&E). ii.DEPwD conducted various activities like Awareness Programmes, Interview sessions, poster making, Webinars and Panel Discussion at more than 20 places across India.
World Day for Audiovisual Heritage 2023- October 27The United Nations (UN) World Day for Audiovisual Heritage (WDAH) is annually observed across the globe on 27 October to remind us of the significance of archiving and preserving Audiovisual (AV) sources, and to honour the AV preservation professionals and institutions that safeguard our heritage for future generations.
The 2023 theme of WDAH is “Your Window to the World”.
WDAH celebration is a key initiative of the United Nations Educational, Scientific and Cultural Organization (UNESCO) and the Coordinating Council of Audiovisual Archives Associations (CCAAA). Background: i.In 2005, UNESCO adopted the resolution (33 C/Resolution 53) during the 33rd session of the UNESCO General Conference held in Paris, France, and proclaimed the 27 October of every year as the World Day for Audiovisual Heritage (WDAH). ii.The resolution also commemorated the 25th anniversary of the adoption of the Recommendation for the Safeguarding and Preservation of Moving Images. ii.The first-ever WDAH was observed on 27 October 2006.
77th Infantry Day – 27th October 2023 Infantry Day is annually observed across the nation on 27th October by Indian Army to commemorate the contributions of the Infantry, the largest fighting arm of the Indian Army.
Kerala Becomes the First State to Have Hallmarking Centres in All DistrictsKerala has become the first state in India to have hallmarking centers in all of its 14 districts. This was achieved after the inauguration of a hallmarking center in Adimali, Idukki district, Kerala.
This will make Kerala a hub of gold business and strengthen its claim to being the most reliable market in India.
Kerala Gold Business: i.The gold business in Kerala is worth more than Rs 1 lakh crore with annual sales of around 250 tonnes. ii.In Kerala, there are about 12,000 gold merchants and majority of them are holding Bureau of Indian Standards (BIS) registration. Hallmarking: i.Hallmarking is a system of certifying the purity of gold and silver jewellery/artefacts in India. ii.The hallmarking system is administered by the BIS, which is the National Standard Body of India established under ‘Bureau of Indian Standards (BIS) Act 2016’. iii.The hallmark will contain the purity of the metal, the name of the assaying and hallmarking center, and a unique identification number.
BIS hallmarking is voluntary for gold jewellery below 2 grams in weight, but it is compulsory for all gold jewellery above 2 grams in weight.
HUID number: i.Intoduced in 2021, Hallmark Unique Identification (HUID) number is a six digit Alphanumeric code. ii.HUID will be given to every piece of jewellery at the time of hallmarking and it is unique for every piece of jewellery. iii.The jewellery is stamped with the unique number manually at the Assaying & Hallmarking centre. iv.Consumers can use the HUID to track their jewellery online and verify its purity.
RCS-UDAN Scheme Successful Completes 6th Year in 2023The Regional Connectivity Scheme (RCS) – UDAN (Ude Desh Ka Aam Nagrik i.e. let the country’s common man fly) Scheme which focuses on improving unserved air routes in underserved regions of India, completes 6th year in 2023.
The RCS-UDAN scheme was launched as part of the National Civil Aviation Policy (NCAP) 2016 by the Ministry of Civil Aviation (MoCA) on October 21, 2016, with a 10-year vision.
The first RCS-UDAN flight was inaugurated by Prime Minister (PM) Narendra Modi on 27th April 2017, connecting Shimla(Himachal Pradesh) to Delhi.
About the RCS –UDANScheme: i.The RCS -UDAN Scheme was launched to promote regional air connectivity by making flying affordable for the common citizens. ii.It encourages airlines to operate flights on regional and remote routes by enabling policies and extending incentives from the Central Government and State Governments.
The government also provides financial Viability Gap Funding (VGF) support to airlines operating on UDAN routes.
Salient features of the scheme: i.RCS-UDAN is contributing to the growth of the civil aviation industry as four new & successful airlines have come up in the last 6 years.
The scheme has helped airline operators to start up and develop a sustainable business model.
ii.Promoting tourism: It promotes tourism by connecting destinations such as Khajuraho(Madhya Pradesh), Deoghar(Jharkhand), Amritsar(Punjab), and Kishangarh (Ajmer – Rajasthan) with bigger cities.
UDAN upsurge Northeast region’s tourism industry by introducing accessibility to Pasighat, Ziro, Hollongi, and Tezu airports in Arunachal Pradesh.
It boosts air connectivity by operationalizing 75 airports including Eight airports in the Northeast region.
iii. Boosting air connectivity: Totally 499 UDAN routes have been operationalized as of 17th October 2023.
RCS-UDAN has facilitated the travel of over 1.3 crore passengers so far.
The airports that were operationalized under UDAN such as Darbhanga(Bihar), Hubli(Karnataka), Kannur(Kerala) and Mysuru(Karnataka) have become sustainable with many non-RCS commercial flights operating from these airports.
Versions of the Scheme: i.Since 2016, various versions of the RCS-UDAN Scheme have been launched including UDAN 1.0, UDAN 2.0, UDAN 3.0, UDAN 4.0, UDAN 5.0, UDAN 5.1, and UDAN 5.2. ii.UDAN 5.0 was launched in 2023 and is aimed at Category-2 (20-80 seat) and Category-3 (>80 seat) aircraft. iii.UDAN 5.1 is specifically intended for helicopter routes, broadening the scope of operations for helicopter operators, improving VGF, and lowering Airfare Caps. iv.Bidding for the UDAN 5.2 is currently underway in order to improve connectivity to remote and regional areas of the country, provide last-mile connectivity, and offer impetus to the tourism sector via small aircraft (20 seats).
AP’s Indian Red Cross Society signs MoU with NCC to Enroll NCC students as YRC Volunteer The Indian Red Cross Society (IRCS), Andhra Pradesh(AP), has signed a first of its kind Memorandum of Understanding (MoU) with the National Cadet Corps (NCC) to enroll NCC students as Youth Red Cross(YRC) Volunteers in Andhra Pradesh(AP).
Signatories: V.M. Reddy, Air Commodore and Deputy Director General of NCC (AP and Telangana) and A.K. Parida, General Secretary of Indian Red Cross Society, A.P. State branch, signed an MoU in Andhra Loyola College (ALC) at Vijayawada(AP).
Under this MoU, the IRSC AP will instruct NCC cadets in first aid, CPR, and disaster relief. NCC Cadets will be encouraged to donate blood in times of need and to participate in environmental activities to combat climate change.
As a YRC Volunteer, NCC students will extend services during emergencies in AP.
IAF Signs Contract with Indian Manufacturer for Procurement of Automatic Weather Stations The Indian Air Force(IAF)has signed a contract with an Indian manufacturer for the procurement of automatic weather stations at 82 IAF locations.
This technology advancement will significantly improve aerospace safety by providing real-time weather updates throughout flight operations and training.
This procurement is especially crucial for India’s strategic positions, including Daulat Beg Oldie(Ladakh), the highest airstrip at 16,700 feet, as well as Fukche and Nyoma in Ladakh, which have been approved for conversion into fully operational fighter bases.
This procurement will also help several advanced landing grounds (ALGS) in Ladakh, including Tuting, Vijaynagar, Walong, Ziro, and Tawang, as well as various high-altitude helipads.
Note: The measurement of meteorological characteristics such as ambient temperature, wind speed, wind direction, humidity, and atmospheric pressure is critical for safe aircraft and helicopter landings and takeoffs.
India-EU’s First Joint Naval Exercise Held in Gulf of GuineaIndia and the European Union(EU) conducted their first joint naval exercise in the Gulf of Guinea on 24th October 2023. The exercise was designed to uphold the United Nations Convention on the Law of the Sea (UNCLOS).
The exercise took place after the third meeting of the EU-India Maritime Security Dialogue, which was held in Brussels on October 5, 2023.
Participated Ships: i.The exercise involved the Indian Navy’s Offshore Patrol Vessel Indian Naval Ship (INS) Sumedha ii.Ships of 3 EU member states(Italy, France and Spain) also participated the exercise. They are:
Italian Ship Foscari – Italian Navy
French Ship(FS) Ventôse – French Navy
Spanish Ship Tornado – Spanish Navy.
Activities Carried Out: i.The exercise included a variety of activities, including tactical maneuvers, boarding exercises, and flying exercises using the helicopters embarked on FS Ventôse and INS Sumedha and the transfer of personnel between ships. ii.It was designed to reinforce naval maritime security cooperation in support of the region. iii.These activities showcase the shared commitment of India and the EU to supporting coastal States and the Yaoundé Architecture in ensuring maritime security in the Gulf of Guinea. What is Yaoundé Architecture? i.The Yaoundé Architecture is a regional framework for maritime security cooperation to prevent and prosecute illicit activities in the Gulf of Guinea. ii.It was established in 2013 by
Economic Community of West African States (ECOWAS)
Economic Community of Central African States (ECCAS)
Gulf of Guinea Commission (GGC)
iii.The Yaoundé Architecture comprises the Interregional Coordination Centre (ICC), which acts as the coordination and information-sharing hub.
ICC connects the Regional Maritime Security Centre for Central Africa (CRESMAC) and the Regional Maritime Security Centre for West Africa (CRESMAO).
Additional Info: A knowledge sharing session on the joint experience at sea to improve operational know-how was held in Accra, Ghana.
This helped to strengthen ties between Ghanaian officials and representatives from India, the EU, and EU member states.
About Ghana: President – Nana Akufo-Addo Capital – Accra Currency – Ghanaian Cedi
MobiKwik’s Zaakpay gets In-Principle Nod from RBI to Operate as Payment AggregatorReserve Bank of India(RBI) has granted in-principle authorization to MobiKwik’s payment gateway arm Zaakpay to operate as an online payment aggregator (PA).
This will enable Zaakpay to onboard new merchants onto its platform for processing online payments and scale the number of merchants associated with the startup.
Background: i.RBI rejected Mobikwik’s application for PA licence in 2021 and the same was re-applied in October 2022. ii.In 2021, the application was rejected since Mobikwik fell short of of minimum net worth threshold of Rs 15 crore.
In 2021, the net worth of Zaakpaya was at Rs 14.3 Cr, rendering it ineligible for the licence.
RBI Guidelines: In March 2020, RBI issued Guidelines on Regulation of Payment Aggregators and Payment Gateways and introduced various measures for payment aggregators operating in India. Payment Aggregators(PAs):PAs are entities that facilitate e-commerce sites and merchants to accept various payment instruments from the customers. This eliminates the need for for merchants to set up their own payment integration system PAs facilitate merchants to connect with acquirers. In this process they accept payments from customers, pool and transfer them on to the merchants after a time period. Payment Gateways(PGs):PGs are entities that provide technology infrastructure to route and facilitate processing of an online payment transaction without any involvement in handling of funds. Capital Requirements for PAs: Existing PAs: PAs should achieve a net-worth of Rs 15 crore by March 31, 2021 and a net-worth of Rs 25 crore by the end of the third financial year(March 31, 2023). New PAs: PAs shall have a minimum net-worth of Rs 15 crore at the time of application and shall attain a net-worth of Rs 25 crore by the end of third financial year of grant of authorisation. Note: The net-worth of Rs 25 crore shall be maintained at all times thereafter. Onboarding: i.Only the existing companies, which have received RBI’s in-principle approval, is allowed to onboard merchants on their platforms. ii.But, PAs such as Razorpay, PayU, Cashfree, and Paytm are being barred from onboarding new merchants, despite receiving the in-principle approval. About MobiKwik: Founders – Bipin Preet Singh and Upasana Taku Managing Director (MD) & Chief Executive Officer (CEO) – Bipin Preet Singh Headquarters – Gurugram, Haryana Established in – 2009
Bank Of Baroda Launches Bob LITE Savings Account Bank of Baroda(BoB) launched a lifetime zero-balance savings account called the Bob LITE Savings Account as a part of “BOB Ke Sang Tyohaar Ki Umang” festive campaign.
The Bob LITE Savings Account comes with a lifetime-freeRuPay Platinum debit card (subject to maintaining a quarterly average balance(QAB)).
Eligibility: The account can be opened by any resident individual, including minors (above 10 years). QAB: i.The QAB to be maintained is based in the locality. QAB will be
Rs. 3000 for Metro/Urban areas,
Rs. 2000 for Semi-Urban area
Rs. 1000 for Rural areas
ii.If QAB is not maintained, an Annual fee on the debit card will be applied as per the Bank’s guidelines. BoB Unveils Festive Campaign: i.In September 2023, BoB launched the “BOB Ke Sang Tyohaar Ki Umang” festive campaign.
The campaign will run up to 31st December 2023.
ii.As part of the campaign, BoB introduced four savings accounts catering to diverse needs:
BOB LITE Savings Account (No Minimum Balance)
BOB BRO Savings Account: Zero Balance Savings Account for Students (16 to 25 years)
My Family My Bank/BOB Parivar Account: A Comprehensive Family Savings Account
Baroda Non-Resident Indian (NRI) PowerPack Account: A Tailored Account for Non-Resident Indians
iii.BoB also introduced a recurring deposit scheme called the BOB Systematic Deposit Plan (SDP). iv.BoB has partnered with leading brands across various categories, including Electronics, Consumer Durables, Travel, Food, Fashion, Entertainment, Lifestyle, Grocery, and Health, to provide exclusive offers and discounts to its debit and credit cardholders.
This initiative aims to enhance the festive shopping experience while promoting financial prudence.
About Bank of Baroda(BoB): Managing Director (MD) & Chief Executive Officer (CEO) – Devdutt Chand Headquarters –Vadodara, Gujarat (Head office), Mumbai, Maharashtra (Corporate centre) Established in – 1908 Tagline – India’s International Bank
Sultan Ibrahim Sultan Iskandar, Ruler of Johor, Elected as 17th King of MalaysiaHis Royal Highness (HRH) Sultan Ibrahim ibni Almarhum Sultan Iskandar, the Ruler of the southern Malaysian state of Johor, was elected as the 17th King of Malaysia, also known as Yang di-Pertuan Agong (YDPA) XVII, for a term of 5 years, which will begin on 31st January 2024.
He was elected by the Conference of Rulers during its 263rd (Special) meeting held at the National Palace(Istana Negara) in Kuala Lumpur, Malaysia.
He will replace incumbent Sovereign Al-Sultan Abdullah ibni Sultan Ahmad Shah, Ruler of Pahang state, who has been serving as the 16th King since 2019. His tenure is set to end on 30th January 2024.
Significance: For the first time in over 3 decades, the Ruler of Johor has been appointed as the YDPA.
The last YDPA from Johar was the late former Johor Ruler, Sultan Iskandar Sultan Ismail, Father of Sultan Ibrahim. He served as YDPA of Malaysia from 1984 to 1989.
Other Appointment: Sultan of Perak, Sultan NazrinMuizzuddin Shah, will be appointed deputy king, for 5 years from 31 January 2024. Malaysia’s Rotational Monarchy: i.Under Malaysia’s rotational monarchy, the position of king, also known as Yang di-Pertuan Agong, and his deputy are shifted among the rulers of nine of its 13 states. ii.The King of Malaysia is elected by the Conference of Rulers, which consist of 9 hereditary ethnic Malay royals(sultans of 9 of its 13 states) iii.This system was adopted after the independence from British rule in 1957. Note: The Johor royal family dates from the early 16th century and has its own private army. About Sultan Ibrahim ibniAlmarhum Sultan Iskandar: i.Born on 22 November 1958, Sultan Ibrahim is of Malay-British descent and he is the eldest son of the late Sultan Iskandar Sultan Ismail. ii.He enlisted and trained as a Royal Malaysian Navy officer for 3 months at the RMN base in Lumut (Malaysia), making him a fully trained army, navy, and air force officer. iii.He served the State government in various offices among them the State Secretariat, the Treasury, Land Office, Town and Country Planning Department, etc. iv.His reign as Sultan of Johor began on 23 January 2010, following the demise of his father. v.He created history by gaining the Class 26 Train Driver’s License upon completing the 86-tonne locomotive round using a turn table device.
He also received acknowledgment from the Malaysia Book of Records (MBOR) as the first Malay Ruler to officially drive a train.
About Malaysia: Capital– Federal Territory of Kuala Lumpur Prime Minister– Anwar Ibrahim Currency– Malaysian Ringgit (MYR)
Govt Appoints BCG to Craft ‘Vision 2047’ Document The government of India has appointed the Boston Consulting Group (BCG), a global consulting firm, to help prepare the Vision 2047 document, outlining India’s medium-term objectives for becoming a developed economy in the next 25 years. The document will emphasise strategic measures to elevate India to a middle-income country.
The Vision 2047 document will emphasise leveraging India’s expertise in the industry, services, agriculture, trade, and human capital, along with a focus on enhancing governance systems and public goods accessibility.
Ensuring inclusive economic growth will be a pivotal component of this Vision 2047 document. The government, think tanks, and various external agencies are actively involved in shaping the vision document implementation.
The National Institution for Transforming India (NITI) Aayog is taking the lead in consolidating these diverse suggestions and inputs.
CCI Approves Rebalancing of Cross-shareholding Between Renault and NissanThe Competition Commission of India (CCI) has approved the re-balancing of the existing cross-shareholdings between Renault S.A. (Renault) and Nissan Motor Co. Ltd. (Nissan)(Rebalancing).
This also relates to the changes to the shareholding of 2 of their joint ventures(JV) Renault Nissan Automotive India Private Limited (RNAIPL) and Renault Nissan Technology & Business Centre India Private Limited (RNTBCI) in India.
Note:
RNAIPL is dedicated to manufacturing and assembly of passenger vehicles and offers related services exclusively to Renault and Nissan.
RNTBCI is a captive automotive technology and business center supporting Renault and Nissan’s Research and Development (R&D), engineering, and so on.
Details of the Re-balancing: i.As part of the Rebalancing, Nissan will maintain a 15% share in Renault through Nissan Finance Co. Ltd. (NFC). ii.Renault will transfer 28.4% of its Nissan shares to a trust estate administered by a trustee governed by French law. The entrusted shares will be voted neutrally, with few exceptions. iii.Renault will continue to benefit fully from the economic rights of the entrusted shares until their eventual sale. iv.Following this re-balancing, Renault and Nissan will have a cross-shareholding of 15% of the total issued share capital and freely exercisable voting rights in each other. Nissan: Nissan and its affiliates in India focus on the sale of passenger vehicles and automotive parts, conducted through Nissan Motor India Private Limited (NMIPL), a wholly-owned subsidiary of Nissan. Renault: Renault and its affiliate entities in India, sell automobiles and parts through its wholly-owned subsidiary Renault India Private Limited (RIPL). About Competition Commission of India (CCI): Chairperson– Ravneet Kaur Established in– 2003 Headquarters– New Delhi, Delhi
Sporanaerobiumhydrogeniformans: An Anaerobic, Hydrogen-Producing Bacterium Found in Aravali Hot Spring, Maharashtra Scientists under the Bioenergy Group at the Agharkar Research Institute (ARI) in Maharashtra, identified a New Genus of anaerobic lignocellulose-degrading bacteria called Sporanaerobiumhydrogeniformansin the hot spring of Aravali, located in Ratnagiri district (Maharashtra). This bacteria has a remarkable ability to produce hydrogen gas as a byproduct of its metabolic processes.
The hydrogen generated by this bacteria could be a source of clean and Renewable Energy. The findings are published in the journal Archives of Microbiology.
Sporanaerobium hydrogeniformans is part of the Lachnospiraceae family, renowned for its polysaccharide degradation capabilities to synthesise free or complicated hydrolytic enzymes.
Sporanaerobium hydrogeniformans is crucial for breaking down cellulose and xylan, the key components of lignocellulosic agricultural waste.
A collection of thermostable hydrolytic enzymes reported in Sporanaerobium hydrogeniformans makes the bacterium significant for use in industry.
The researchers also discovered that the bacteria can grow optimally at high temperatures of 45–50°C and an alkaline pH of 8.0.
Note:
Unlike most bacteria, this strain can simultaneously utilize hexose and pentose sugars. This unique characteristic positions the bacterium as a vital asset in the industrial production of biofuels.
ARI is an autonomous institute of the Department of Science and Technology.
Ex-RBI Governor Raghuram Rajan & Economist Rohit Lamba authored a new book “Breaking the Mould”Raghuram Rajan, Former Governor of the Reserve Bank of India (RBI), and Economist Rohit Lamba has authored a new book titled “Breaking the Mould: Reimagining India’s Economic Future”.
The book, published by Penguin Business, an imprint of Penguin Random House India (PRHI), is set to be released in December 2023.
About the book: i.Through this book, the authors provides an idea about the economic future of India. ii.The book examines crucial policy choices relevant to every Indian, offering valuable insights on economic development. iii.The book seeks to delve into some of the critical questions surrounding India’s economic trajectory. About RaghuramRajan: i.He is currently a distinguished service professor at the University of Chicago Booth School of Business, and a senior fellow (adjunct) at the Hoover Institution, the United States of America (USA). ii.He served as the 23rd Governor of the RBI from 2013 to 2016 and as vice chairman of the board of the Bank for International Settlements from 2015 to 2016. iii.He was a chief economist and director of research at the International Monetary Fund(IMF) from 2003 to 2006 and as president of the American Finance Association in 2011. iv.He is a member of the American Academy of Arts and Sciences and the Group of Thirty. Award: In January 2003, the American Finance Association awarded him the inaugural Fischer Black Prize for the best finance researcher under the age of 40. Books: The Third Pillar: How Markets and the State Leave the Community Behind (2019); I Do What I Do: On Reform, Rhetoric, and Resolve (2018); Saving Capitalism from the Capitalists with Luigi Zingales (Co-author) (2003) About RohitLamba: i.Rohit Lamba is a Assistant Professor of Economics at the The Pennsylvania State University (since 2015) ii.He was a visiting assistant professor of economics at the University of Pennsylvania from 2018-19. ii.He served as the office of the Chief Economic Advisor, Government of India from 2012-2013, and in 2014. Books: Industrial Policy Redux (2023); Has India really become a mobile phone manufacturing giant? (Co-author) (2023); How services can create next wave of India’s globalisation (Co-authored with Raghuram Rajan)(2023).
International Dwarfism Awareness Day 2023 – October 25International Dwarfism Awareness Day, also known as World Dwarfism Day, is annually observed across the globe on 25th October to raise awareness about achondroplasia, a bone growth disorder that causes dwarfism due to a genetic mutation in the arms and legs.
25th October 2023 marks the observance of 12th International Dwarfism Awareness Day.
What is Dwarfism? i.Dwarfism is a group of conditions that cause short stature. It is generally defined as an adult height of 4 feet 10 inches (147 centimeters) or less. They have short arms and legs in comparison to the head and trunk. ii.There are over 200 different types of dwarfism, each caused by a different genetic or medical condition. iii.Achondroplasia is a Greek word meaning “without cartilage formation”. This is one of the most common causes of dwarfism. Background: i.International Dwarfism Awareness Day was established by ‘Little People of America(LPA)’ to commemorate the birth anniversary of Billy Barty(born as William John Bertanzetti), an American actor who had dwarfism(achondroplasia). ii.The first International Dwarfism Awareness Day was observed on 25th October 2012. About Billy Barty: i.Billy Barty was born on 25th October 1924 in Millsboro, Pennsylvania, United States of America (USA). ii.He appeared in over 200 films and television shows, and was a tireless advocate for people with dwarfism. iii.In 1957, Billy Barty founded LPA, a non-profit organization that provides support, resources, and information to people of short stature and their families. Observance in India: i.International Dwarfism Awareness Day is observed in India by the Department of Empowerment of Persons with Disabilities (DEPwD) under the Ministry of Social Justice and Empowerment(MoSJ&E). ii.DEPwD conducted various activities like Awareness Programmes, Interview sessions, poster making, Webinars and Panel Discussion at more than 20 places across India.
World Day for Audiovisual Heritage 2023- October 27The United Nations (UN) World Day for Audiovisual Heritage (WDAH) is annually observed across the globe on 27 October to remind us of the significance of archiving and preserving Audiovisual (AV) sources, and to honour the AV preservation professionals and institutions that safeguard our heritage for future generations.
The 2023 theme of WDAH is “Your Window to the World”.
WDAH celebration is a key initiative of the United Nations Educational, Scientific and Cultural Organization (UNESCO) and the Coordinating Council of Audiovisual Archives Associations (CCAAA). Background: i.In 2005, UNESCO adopted the resolution (33 C/Resolution 53) during the 33rd session of the UNESCO General Conference held in Paris, France, and proclaimed the 27 October of every year as the World Day for Audiovisual Heritage (WDAH). ii.The resolution also commemorated the 25th anniversary of the adoption of the Recommendation for the Safeguarding and Preservation of Moving Images. ii.The first-ever WDAH was observed on 27 October 2006.
77th Infantry Day – 27th October 2023 Infantry Day is annually observed across the nation on 27th October by Indian Army to commemorate the contributions of the Infantry, the largest fighting arm of the Indian Army.
Cabinet Approvals on October 25, 2023On October 25, 2023, the Union Cabinet chaired by Prime Minister (PM) Narendra Modi has given its approval to the following proposals which were detailed by Union Minister, Anurag Singh Thakur, Ministry of Information and Broadcasting (MIB) during a press conference in New Delhi, Delhi: i.The Cabinet Committee on Economic Affairs (CCEA) has approved the inclusion of Jamrani Dam Multipurpose Project of Uttarakhand under the Pradhan Mantri Krishi Sinchayee Yojana-Accelerated Irrigation Benefit Programme (PMKSY-AIBP) of Department of Water Resources, River Development and Ganga Rejuvenation. ii.The Union Cabinet approved Nutrient Based Subsidy (NBS) rates for Rabi Season 2023-24 (October 1, 2023 to March 31, 2024) on Phosphatic and Potassic (P&K) fertilizers, amounting to Rs 22,303 crore. The decision was made in light of falling international prices. iii.The Union Cabinet also approved a Memorandum of Cooperation (MoC) between India and Japan on the Japan-India Semiconductor Supply Chain Partnership which was signed in July 2023. It will be effective from July 20, 2023, and will remain in force for 5 years. About Japan: Prime Minister– Fumio Kishida Capital– Tokyo Currency-Japanese yen
One Nation, One Election Website Launched during HLC’s second meeting
High-Level Committee (HLC) on One Nation, One Election(ONOE) under the chairmanship of Former President Ram Nath Kovind held its 2nd meeting in New Delhi, Delhi on 25th October 2023.
The website developed for the “One Nation, One Election” was launched at the meeting. This will act as a repository of all relevant information on the ONOE proposal.
The website will also act as a platform for interaction and receiving suggestions from all stakeholders.
Decisions taken by the Committee:
Budgetary provision for the HLC for the current FY -2023-24 was approved.
Resignation of Shri Adhir Ranjan Choudhury, Leader of the single largest party in the Lok Sabha from the membership of HLC was noted.
The committee also informed that letters have been sent to 6 National parties, 33 State parties and 7 Registered unrecognised parties inviting their suggestions on ONOE.
Additional info: The Law Commission of India(LCI), under the Chairmanship of Justice Ritu Raj Awasthimade, presented the committee with suggestions and viewpoints on the issue of simultaneous elections in India.
What is One Nation, One Election? The One Nation, One Election is a proposal to hold simultaneous elections to the Lower House of Parliament (Lok Sabha) and State Assemblies. HLC: i.HLC was constituted by the Government of India in September 2023. ii.The committee was set up to explore the possibility of holding elections to the Lok Sabha and State Legislative Assemblies at the same time. iii.HLC has been renamed as ‘High Level Committee on One Nation, One Election’ (‘एक देश, एक चुनाव के लिए उच्च स्तरीय समिति’).
This is in accordance with the decision taken in the first meeting of HLC which was held on 23rd September 2023.
Composition: i.Chairman Former (14th) President of India Ram NathKovind. ii.Niten Chandra, Secretary, Department of Legal Affairs will be the secretary of the committee. iii.Members:
Amit Shah – UnionMinister of Home Affairs and Union Minister of Cooperation
Ghulam Nabi Azad – Former Leader of Opposition(Member of Parliament from Rajya Sabha)
Nand Kishore Singh – Former Chairman of 15th Finance Commission
Subhash C. Kashyap – Former Secretary General of Lok Sabha
Harish Salve – Senior Advocate of the Supreme Court of India
Sanjay Kothari – Former Chief Vigilance Commissioner
Arjun Ram Meghwal, Union Minister of State for Law and Justice (Independent Charge) is the Special Invitee of the committee.
CCI Secured its 1st Membership in the International Competition Network’s Steering Group for 2 Years The Competition Commission of India (CCI) secures membership in the International Competition Network (ICN) Steering Group at the 22nd Annual Conference of the ICN, hosted by the Spanish National Markets and Competition Commission (CNMC) in Barcelona, Spain from 18 to 20 October 2023.
This is the 1st time that CCI has become a member of the ICN’s apex body, a Steering Group and the membership is for 2 years.
With more than 140 member competition agencies, ICN operates under the guidance of its Steering Group, comprised of 18 esteemed members worldwide.
International Competition Network (ICN): i.ICN functions as a virtual international organization, comprising global competition authorities. ii.ICN’s work primarily occurs through project-oriented Working Groups, fostering collaboration through various mediums such as teleconferences, teleseminars, and webinars. iii.Through dynamic dialogue, the ICN platform facilitates the convergence towards robust competition policy principles across the global antitrust community. Role of ICN: i.The ICN is the only global body dedicated solely to competition law enforcement globally. ii.Its members comprise national and multinational competition authorities and emphasises project-based and results-driven working groups. iii.ICN provides a specialised yet informal platform for antitrust authorities to foster regular contacts and collaboratively address practical competition concerns. Steering Group of ICN: i.The Steering Group of ICN is composed of representatives of ICN member agencies and the 18 members Steering Group serve renewable two-year terms. ii.Steering Group members are confirmed by consensus of ICN Members in odd-numbered years at the ICN annual conference. About International Competition Network (ICN): Founded in– 2001 Chair of ICN Steering Group– Andreas Mundt (President, Germany Federal Cartel Office) Member Agencies– 143 Members
ADB Approves USD 400 Million Loan to Enhance Urban Services in IndiaThe Asian Development Bank (ADB) has approved USD 400 million policy-based loan to India to enhance the infrastructure quality and provide assured public services and efficient governance systems. The loan will be under Sub-programme 2 of ADB’s Sustainable Urban Development and Service Delivery Programme.
Subprogram 2 will support investment planning and reform actions at the state and urban local body (ULB) levels.
It will be implemented by the Ministry of Housing and Urban Affairs(MoH&UA) with guidance from ADB.
Aim: The program supports India’s urban reform agenda for improving the quality of urban life by creating
High-quality urban infrastructure
Assured public services
Efficient governance systems
Process: i.The program integrates urban planning reforms with capacity building of ULBs and community awareness. ii.Urban planning reforms includes controlling urban sprawls and paving a path for a systemic and planned urbanization.
The legal, regulatory, and institutional reforms are an integral part of these urban planning reforms.
iii.ULBs will help cities become well-planned centres of economic growth.
This is done by promoting the modernization of building bylaws, land pooling, and urban agglomeration.
Outcome: i.These planning processes will make cities more resilient to climate change and disasters, promote nature-based solutions, improve the urban environment, and make cities more financially sustainable by generating more revenue. ii.Cities will be encouraged to become more financially responsible by making changes to how they collect taxes and spend money. This will make it easier for them to borrow money and invest in the infrastructure they need. India’s Endeavour: i.India cities have the potential to drive economic growth. ii.India has stressed the importance of making cities livable through inclusive, resilient, and sustainable infrastructure.
This is in alignment with ADB Strategy 2030.
iii.Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0, India’s flagship urban transformation program, aims to provide universal access to water supply and sanitation, and ensure urban water security by reducing water losses, recycling wastewater for non-potable uses, rejuvenating water bodies, and maintaining sustainable groundwater levels. Additional Info: Subprogram 1, sanctioned in 2021, focused on the formulation of national-level policies and guidelines to enhance urban services. About Asian Development Bank (ADB): President –Masatsugu Asakawa Headquarters – Mandaluyong City, Manila, Philippines Established in – 1966 Members – 68 Countries
Zerodha Fund House Launches Its Maiden Mutual Fund SchemesZerodha Fund House(ZFH), a joint venture between Zerodha Broking Limited and smallcase Technologies Private Limited, launched its maiden mutual fund schemes Zerodha Nifty LargeMidcap 250 Index Fund and Zerodha ELSS Tax Saver Nifty LargeMidcap 250 Index Fund.
Both schemes are open-ended, passive, index-equity mutual fund schemes.
The New Fund Offering (NFO) opened on 20th October 2023 and will remain open till 3rd November 2023.
About the Fund Schemes: i.Both the launched funds are benchmarked against the Nifty LargeMidcap 250 Index total returns index (TRI). iii.The index fund will replicate the Nifty LargeMidcap 250 Index, while the ELSS scheme will be an open-ended passive equity-linked savings scheme with a statutory lock-in period of three years. iv.The tax benefit replicates the Nifty LargeMidcap 250 Index.
The Equity Linked Savings Scheme (ELSS) provides tax benefits under Section 80 (C) of the Income-tax Act, 1961.
v.The minimum Systematic Investment Plan (SIP) investment for the index fund is Rs 100, while the minimum threshold for the ELSS fund has been set at Rs 500. vi.The schemes will adopt a passive investment strategy.
It will invest in stocks in proportion to the weightage of the stocks in the Nifty LargeMidcap 250 Index.
Background: This is the first NFO of the Fund House after receiving approval from the Securities and Exchange Board of India (SEBI) in August 2023 to launch mutual fund schemes. What is NFO? i.NFO is a singular investment solution to invest in the top 250 companies. ii.NFO provides an equity product with a mix of stability and growth. Nifty LargeMidcap 250 Index: i.The Nifty LargeMidcap 250 Index is a stock index that tracks the performance of 250 large and midcap companies listed on the National Stock Exchange of India (NSE). ii.The index is weighted evenly between the two segments, with 50% of the weight allocated to each. iii.The Nifty LargeMidcap 250 Index covers approximately 84% of the total market capitalization, 87% of the free-float market capitalization, and 69% of the total liquidity of all traded equity stocks on the NSE. About Zerodha Fund House(ZFH): Zerodha Fund House is a passive-only Asset Management Company (AMC) which aims to build transparent, and affordable mutual funds. Chief Executive Officer (CEO) – Vishal Jain Headquarters – Bengaluru, Karnataka Established in – 2023
Swarup Mohanty Appointed VC of Mirae AMC; 1st Non-Korean VC of Mirae Asset Financial GroupSouth Korea-based Mirae Asset Financial Group has appointed Swarup Anand Mohanty as the Vice Chairman (VC) of Mirae Asset Investment Managers (India) Private Limited (Mirae AMC) with effect form 24th October 2023.
Prior to the appointment he was serving as the Director and Key Personnel of AMC. he has been serving as the Chief Executive Officer (CEO) of the AMC since 2016.
With this, Mohanty becomes the first Non-Korean person to be appointed as the VC within Mirae Asset Financial Group.
The appointment is a part of the major management reshuffle of Mirae Asset Financial Group.
AboutSwarupAnandMohanty: i.He has over 2 decades of experience in the field of financial services including more than 17 years of experience in Asset Management Sales. He is overall responsible for the India AMC. ii.He joined AMC as head-Sales in July 2011 and was appointed as Associate Directors on the Board of Mirae Asset Global Investments (India) Private Limited (“MAGI India”) in 2016. iii..Previously, he worked as National Sales Head – Retail, India at Religare Asset Management Co. Ltd. iv.He also held pivotal roles in renowned organisations like Birla Sunlife Asset Management Co. Ltd, and Franklin Templeton Asset Management (India) Pvt. Ltd, and Kotak Mahindra Asset Management Company Ltd. Points to note: i.As a part of the management reshuffle, key founding members like Choi Hyun-man (the Co-founder of Mirae Asset Financial Group), Mirae Asset Securities CEO and Chairman; Cho Woong-gi, Vice Chairman of Mirae Asset Securities; and Choi Kyeong-joo, Vice Chairman of Mirae Asset Global Investments have stepped down from their positions. ii.Lee Jun-yong, President of Mirae Asset Global Investments; Kim Jae-sik, President and CEO of Mirae Asset Life Insurance; Kim Mi-seob, Heo Sun-ho, and Rhee Jung-ho, Presidents of Mirae Asset Securities President; were appointed as VC within their respective subsidiaries. Additional info:
Mirae Asset Financial Group is one of Asia’s leading independent financial services companies.
The AMC is the Asset Management Company of Mirae Asset Mutual Fund (MAMF) India.
The AMC is the subsidiary of Mirae Asset Global Investments, which in turn is the asset management arm of the Mirae Asset Financial Group.
About Mirae Asset Investment Managers (India) Pvt. Ltd (Mirae AMC): Vice Chairman & CEO– Swarup Anand Mohanty Headquarters– Mumbai, Maharashtra Started Operations in 2008
Robert Fico formally appointed as PM of SlovakiaOn 25th October 2023, the Zuzana Čaputová, President of Slovakia, formally appointed Robert Fico as the Prime Minister (PM) of Slovakia. He will succeed ĽudovítÓdor who has been serving as the Interim PM of Slovakia since 15 May 2023 after the resignation of Eduard Heger as PM.
This is the 3rd time Robert Fico will serve as the PM of Slovakia, after having served from 2006 to 2010 and from 2012 to 2018.
He is the head of the current ruling pro-Russian party Slovak Social Democracy (SMER-SD).
Key Points: i.Notably, his appointment was made after his SMER-SD won the 30th September 2023 election and formed a coalition with the centre-left HLAS (Voice) party and the ultranationalist Slovak National Party (SNS). ii.The party won 42 seats in the 150-seat Parliament. iii.He pledged in his election campaign to end military support for Ukraine and criticized sanctions on Russia.
About Slovakia: President– Zuzana Čaputová Capital– Bratislava Currency– The Euro
AmitavaMukherjee gets Tenure Extension as NMDC CMD
The Ministry of Steel has the tenure of AmitavaMukherjee, Chairman-cum-Managing Director (CMD) of the National Mineral Development Corporation (NMDC) for a further period of 1 year with effect from 20th November 2023 up to 19th November 2024 or till the appointment of a regular incumbent or until further orders.
He is the Director (Finance) of NMDC who has been holding additional charge as the CMD since March 2023.
This is the 2nd extension given to Mukherjee on his additional charge. Earlier the Government extended his tenure in July 2023 till November 19, 2023.
This decision follows the Appointments Committee of the Cabinet (ACC) on October 18 approving a Ministry of Steel’s proposal for his extension.
Special Forces Training School at HP Gets Indian Army’s 1st Vertical Wind TunnelGeneral Manoj Pande, Chief of the Army Staff (COAS), virtually inaugurated the Indian Army’s 1st Vertical Wind Tunnel (VWT) at the Special Forces Training School (SFTS) at Bakloh, Himachal Pradesh (HP) to train the special forces and refine the Combat Freefall (CFF) skills of armed forces personnel.
The state-of-the-art wind tunnel provides a controlled environment for military trainees. It enhances the Combat Free Fall (CFF) skills of armed forces personnel.
The facility simulates real-life free-fall conditions, allowing trainees to experience various CFF scenarios.
Significance: This marks a significant step in modernizing the Indian Army’s training infrastructure. The installation of VWT is a part of the Indian army’s effort to infuse technology into the training methodologies. Vertical Wind Tunnel (VWT): i.A Vertical Wind Tunnel (VWT) is a wind tunnel that moves air up in a vertical column. These tunnels are often used for aerodynamic research and modern human flight. ii.Wind tunnels that are built specifically for humans to fly in are often referred to as skydiving simulators, indoor skydiving tunnels, or simply wind tunnels. iii.These tunnels employ powerful fans to generate wind speeds, allowing participants to float effortlessly, mimicking the sensation of a skydive. iv.Beyond recreation, VWT serves as a training ground for skydivers, enabling them to practice maneuvers in a controlled environment. v.Generating specific air columns at defined velocities, the VWT replicates diverse Controlled Free Fall (CFF) scenarios. Benefits: Incorporated into the CFF training curriculum at SFTS, the VWT yields multiple advantages. They are: i.The system simulates varied freefall scenarios which is crucial in assessing individual reactions to numerous situations in an airborne operating environment. ii.Reducing potential instability during airtime and parachute deployment aids trainees in getting used to free-fall conditions. iii.The VWT is beneficial for beginners and a valuable resource for delivering advanced training to seasoned free-fallers and CFF instructors.
China Launches Shenzhou-17 Manned Spacecraft to Its Space Station China’s Chinese Manned Space Agency (CMSA) has launched its 30th flight mission Shenzhou 17 (also known as “DivineVessel”) along with three astronauts to the Tiangong Space Station.
The spacecraft lifted off atop a Long March-2F Y17 carrier rocket from the Jiuquan Satellite Launch Center in northwest China.
This is the sixth manned mission of China to its space station since 2021.
About the Astronauts: i.The crew is led by former air force pilot Tang Hongbo (48).
He is making his second spaceflight.
He belongs to China’s second batch of astronauts in 2010.
ii.The other two members of the crew: Tang Shengjie (33) and Jiang Xinlin (35), are both travelling to space for the first time.
They joined the China’s 3rd batch of astronauts.
iii.The crew is the youngest-ever crew of Chinese astronauts to visit the Tiangong Space Station. About Shenzhou 17 mission: i.Shenzhou 16 crew will hand over control to the incoming Shenzhou 17 astronauts. ii.The mission will last for six months, during which time the astronauts will conduct experiments and technology tests. iii.The astronauts will also conduct Tiangong’s first extravehicular experimental maintenance work. Shenzhou 16: i.Shenzhou 16 was the fifth manned mission to China’s Tiangong space station. ii.The crew consisted of Jing Haipeng (commander), Zhu Yangzhu, and Gui Haichao. iii.It launched on May 30, 2023, and will return to Earth on October 31, 2023. Tiangong Space Station: i.The Tiangong space station is a Chinese space station being built in low Earth orbit between 340 and 450 kilometers above the earth. ii.In 2021, Shenzhou 12 was the first crew to visit the space station. iii.Chinese will be the working language of this space station. About People’s Republic of China: President – Xi Jinping Capital – Beijing Currency – Renminbi (Yuan)
Skyroot Aerospace Unveils Vikram-I Orbital Space Launch Vehicle Skyroot Aerospace Private Limited unveiled ‘Vikram-I’ orbital space launch vehicle at the newly inaugurated its headquarters ‘The MAX-Q Campus’ located at the GMR Aerospace and Industrial Park in South Hyderabad, Telangana.
The event was attend by Union Minister of State(MoS) Jitendra Singh, Ministry of Science & Technology (MoST) who also unveiled simulation of Vikram 1.
The Vikram-I rocket is capable of carrying a load of up to 480 Kilograms (kg) into 500 Kilometre (km) the Low Earth orbit (LEO) and a load of 290 kg into a 500 km Sun Synchronous Polar Orbit (SSPO).
Vikram 1 is the all-carbon-fibre bodied rocket that can place multiple satellites in orbit and features 3D printed liquid engines.
Note: Vikram-I is set ot launch in 2024 by Skyroot Aerospace Private Limited which was established in 2018 by Pawan Kumar Chandana and Naga Bharath Daka(Co-Founders).
England’s FIFA World Cup Winner Sir Bobby Charlton Passed Away at 86The former England football player Sir Bobby (Robert) Charlton passed away at the age of 86. He suffered dementia in 2020.
Sir Bobby Charlton was part of the England’s Federation Internationale de Football Association (FIFA)World Cup winning team in 1966.
About Sir Bobby Charlton: i.Robert Charlton was born in 11th October 1937 in Ashington, northeast England, United Kingdom(UK). ii.He debuted for Manchester United football club from 1956 to 1973 in 758 matches and scored 249 goals.
He also was a part of Manchester United’s that won the European Cup(1968),three English Premier League titles(1965& 1967) and one Football Association Challenge(FA) Cup(1963).
iii.He represented England national football team from 1958 to 1970 in 106 international matches and scored 49 goals.
As of October 2023, Bobby Charlton was the third highest goal scorer for England National team behind Wayne Rooney(53 goals) and Harry Kane (61 goals).
He played four FIFA World Cups 1958, 1962, 1966, and 1970.
Awards: i.He was awarded the OBE (Officer of the Order of the British Empire) in the 1969 Queen’s Birthday Honours List, the CBE (Commander of the Order of the British Empire) in the 1974 Queen’s New Year Honours List.
He was Knighted in 1994 by Queen Elizabeth II in 1994 for his contribution to the game.
ii.He also awarded the Ballon d’Or award for the best player in Europe in 1966.
He also received the FIFA Order of Merit in 1984, the Union of European Football Associations (UEFA) President’s Award in 2008, and the FIFA Golden Foot Legend Award in 2011.
He was presented with lifetime achievement trophy at the 2008 BBC Sports Personality of the Year Award.
He also lifted the FIFA World Cup Golden Ball in 1966 and FIFA World Cup All-Star Team twice in 1966 and 1970.
‘The Lords of the Wankhede – Tales Between Two Titles’ Co-authored by W.V. Raman and R. Kaushik Launched The book titled ‘The Lords of the Wankhede – Tales Between Two Titles’ Co-authored by Indian cricketer W.V. Raman and senior journalist R. Kaushik was launched in Bengaluru, Karnataka and it was published by Rupa Publications.
The book describes the changes that occurred in Indian cricket between 1983 and 2023, and reflects on the events that influenced the growth of cricket in India.
Woorkeri Venkat Raman represented Indian cricket team between 1988 and 1997, also played for Tamil Nadu in domestic cricket and his first book ‘The Winning Sixer’ was launched in 2020.
Kaushik is also the co-author of V.V.S. Laxman’s autobiography ‘281 and Beyond’, Former Indian cricket captain Gundappa Ranganatha Visvanath’s autobiography ‘Wrist Assured’ and Former Indian cricket team fielding coach R. Sridhar’s memoir ‘Coaching Beyond’.
Note: The book launch event was attended by former Indian cricketers Venkatesh Prasad and VVS Laxman.
Global Media and Information Literacy Week 2023 – October 24 to 31The United Nations (UN) Global Media and Information Literacy (MIL) Week is annually observed across the globe from 24th to 31st October 2023 to raise awareness of the importance of media and information literacy (MIL) and to celebrate the progress made towards achieving MIL for all.
24-31 October 2023 marks the observance of the 12th Global Media and Information Literacy Week.
The 2023 theme of Global MIL Week is “Media and Information Literacy in Digital Spaces: A Collective Global Agenda”.
The annual event of Global MIL Week is organised by the United Nations Educational, Scientific and Cultural Organisation (UNESCO).
Background: i.In June 2011, the first edition of the International Forum on Media and Information Literacy (MIL) held in Fez, Morocco came up with the Fez Declaration on MIL.
It dedicated that World Media and Information Literacy Week should be celebrated from 15-21 June every year.
ii.In 2019, the UNESCO General Conference at its 40th session adopted a resolution and decided to proclaim Global MIL Week to be observed from 24 to 31 October each year. iii.In 2021, the United Nations General Assembly (UNGA) adopted the resolution A/RES/75/267 and proclaimed 24 to 31 October of each year the Global MIL Week.
MoS Rajeev Chandrasekhar Launched Project “Heartland Tripura” to Boost Employment for Students Union Minister of State(MoS) Rajeev Chandrasekhar, Ministry of Skill Development & Entrepreneurship and Electronics & Information Technology(IT) launched a project named “Heartland Tripura” to enhance the employability and skills of the youth of Tripura. This project was launched in partnership with Deloitte India and the National Institute of Electronics and Information Technology (NIELIT), Agartala(Tripura)and they signed agreement in the inaugural ceremony.
NIELIT (Agartala) provide skill development certification courses through the project “Heartland Tripura which enhances career and personal development opportunities for undergraduate students in both engineering and non-engineering fields.
The certification courses offered in cyber security, internal audit, analytics, and softer skills around business communication, executive presence, and grooming amongst others.
Deloitte will develop an industry readiness curriculum, drive National Council for Vocational Education and Training(NCVET)-based certification, provide trainer access through its professionals, and giude colleges to hold placement fairs.
The project also intends to identify target organisations for placements and to create an advocacy network for companies to hire from Tripura colleges.
Home Minister Amit Shah inaugurates India’s 1stNano DAP plant atKalol in Gandhinagar, Gujarati.On October 24, 2023, India’s first Nano Di-Ammonia Phosphate (DAP-Liquid) plant was inaugurated by the Union Minister Amit Shah, Ministry of Home Affairs (MHA) near Kalol in Gandhinagar, Gujarat. ii.It was set up by Indian Farmers Fertilizer Cooperative Limited (IFFCO) at a cost of Rs 300 crore. iii.The development of plant is on the lines of Aatmnirbhar Bharat vision of Prime Minister (PM) Narendra Modi. iv.This is the second IFFCO plant in Gujarat. In May 2022, PM inaugurated IFFCO’s world’s first Nano Urea Liquid in Kalol. About Indian Farmers Fertilizer Cooperative Limited (IFFCO): Chairman– Dilip Sanghani Headquarters– New Delhi, Delhi Establishment– 1967
75% of Beneficiaries of PM SVANidhi Scheme Come from Non-General Category with OBCs Accounting for 44%, says SBI ReportAccording to the State Bank of India (SBI) research paper titled “PM SVANidhi: Strengthening the Country’s Social Fabric by Empowering Grassroot Market Mavericks” 75% of the beneficiaries of the PM SVANidhi scheme are from the non-general category.
The research was carried out by Soumya Kanti Ghosh, the Group Chief Economic Advisor of SBI.
Sectional Benefits: The report says that 75% of beneficiaries come from non-general categories with
44% of the beneficiaries belong to the Other Backward Class(OBC) category.
22% of the total disbursement of the scheme benefitted people from Scheduled Castes(SC) and Scheduled Tribes(ST).
It is to be noted that out of the total beneficiaries, 43% were women. About PM SVANidhi: i.Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi(PM SVANidh), is a micro-credit scheme launched by the Ministry of Housing & Urban Affairs (MoHUA) in 2020 ii.The scheme aims to provide working capital loans to street vendors. iii.About70 lakh loans (with a value of Rs 9,100 crore) were disbursed under the scheme. iv.The scheme offers an interest subsidy of 7% per annum on timely/early repayment of the loan. Persistency Ratio: i.The report says that 68% of people repay the first loan (of Rs 10,000) and take the second loan (of Rs 20,000.)
75% of people repay the second loan (of Rs 20000) and take the third loan (of Rs 50,000)
ii.This increased persistency ratio (2nd loan/1 st loan repaid) indicates the need and popularity of PM SVANidhi Scheme. Other Highlights: i.The average amount of money spent by PM SVANidhi account holders using their debit cards increased by 50%( to Rs 80,000) in the financial year 2022-23 as compared to the financial year 2020-21.
The average spending per annum increased by Rs 28,000.
ii.65%(roughly Two-thirds) of the borrowers under the scheme are in the age group of 26-45.
iii.On average, 63% of people under age 25 and over age 60 spend more money after they receive a loan. iv.The SVANidhi loan given to Pradhan Mantri Jan-Dhan Yojana (PMJDY) beneficiaries increased their average spending at merchant outlets. v.5.9 lakh borrowers of this scheme are from 6 megacities; Varanasi topped the list.
Overview of Pradhan Mantri Anusuchit Jaati Abhuyday YojanaPradhan Mantri Anusuchit Jaati Abhuyday Yojana (PM- AJAY) is a merged scheme of Centrally Sponsored Scheme implemented since 2021-2022 with an aim to reduce poverty of the Scheduled Caste (SC) community.
The 3 scheme were,
Pradhan Mantri Adarsh Gram Yojana (PMAGY)
Special Central Assistance to Scheduled Castes Sub Plan ( SCA to SCSP)
Babu Jagjivan Ram Chhatrawas Yojana(BJRCY).
The scheme is implemented through the Department of Social Justice and Empowerment under the Ministry of Social Justice and Empowerment(MoSJ&E). Background: Since the objectives and interventions of PMAGY; SCA to SCSP; and BJRCY were similar and these schemes were implemented by a common implementing agency for the most part, these schemes were merged into a one scheme named “Pradhan Mantri Anusuchit Jaati Abhuyday Yojana (PM- AJAY) (from 2021-2022) for better convergence of public money and optimal utilisation of resources.
Union Home Minister Amit Shah Launches New Logo, Website, Brochure of NCELOn October 23, 2023, Union Minister Amit Shah, Ministry of Home Affairs (MHA) launched the logo, website, and brochure of the newly established National Cooperative Exports Limited (NCEL).
The launch was made during the National Symposium on Cooperative Exports organised by NCEL in New Delhi, Delhi.
He also distributed membership certificates to NCEL members.
Other Participants: Union Minister Piyush Goyal, Ministry of Commerce and Industry(MoCI) and Union Minister of State (MoS) BL Verma, Ministry of Cooperation. About National Cooperative Export Limited (NCEL): NCEL is an umbrella organization for cooperative sector exports in India.
It was established by the Ministry of Cooperation under the Multi-State Cooperative Societies (MSCS) Act 2002 on January 25, 2023.
Key Points: i.NCEL has an authorized share capital is Rs 2,000 crore, with an initial paid-up share capital of Rs 500 crore. ii.Its primary goal is to focus on farmers. It will transfer about 50% of its export profits directly into the bank accounts of member farmers. iii.So far, NCEL has bagged orders worth Rs 7,000 crore and orders worth Rs 15,000 crore are being negotiated. iv.NCEL will also work to connect with MoCI, Ministry of External Affairs(MEA) and Indian embassies acorss the world with the Whole of Government Approach for market linkages.
AIIA’s 6th Foundation Day: New Molecular Biology Lab Launched at AIIA The All India Institute of Ayurveda (AIIA) celebrated its 6th Foundation day on 20th October 2023 at AIIA campus, New Delhi, Delhi. A new molecular biology lab for advance research at AIIA; a Manuscript Unit and Center of Excellence (CoE) Dakshya were launched during the event.
AIIA has also signed memorandum of understandings (MoUs) with six institutions.
Key People: Minister Sarbananda Sonowal, Ministry of AYUSH(Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy) graced the event.
Padma Bhushan awardee Vaidya Devendra Triguna President, Governing Body, Rashtriya Ayurveda Vidyapeeth (RAV), Vaidya Rajesh Kotecha, Secretary, Ministry of Ayush and BK Singh, Joint Secretary, Ministry of Ayush were the Guest of Honour for the event.
AIIA signed 6 MoUs: AIIA has signed six Memorandum of Understandings (MoUs) with well-known six institutions such as Hindustan Salt Limited, the Ministry of Health and Family Welfare, and the Heartfulness Institute.
The MoUs to were signed with an aim to bring new dimensions in the working culture and generate systematic evidences
Unveiling of the statue of Padma Vibhushan Vaidya Brihaspati Dev Triguna: During the event, AYUSH Minister Sarbananda Sonowal unveiled the statue of the Ayurveda practitioner late Padma Vibhushan Awardee Vaidya Brihaspati Dev Trigunaat the Vaidya Brihaspati Dev Triguna Auditorium in AIIA. About Vaidya Brihaspati Dev Triguna: i.He was born into a Vedic Pundit family of Punjab in 1920. ii.He learned Ayurveda at Rajvaidya Pandit Gokul Chand Ji’s Gurukul (an Ayurvedic teaching institution) in Ludhiana, Punjab. iii.He was famous for pulse diagnosis(Nadivaidyam). iv.He was the honorary physician to the President of India. Padma awards: He received Padma Bhushan award in 1992 and Padma Vibhushan in 2003 in the field of medicine. Other Highlights: During his address, AYUSH Minister informed that Ministry of Housing and Urban Development has allotted 12 Acres land for expansion of AIIA. This supports AIIA’s effort to upgrade services for Holistic Healthcare. Various technical documents, including COVID dairy were released during the event. Additional Info: At present there is a Manuscript Unit at National Institute of Ayurveda in Jaipur, Rajasthan. About All India Institute of Ayurveda(AIIA): i.It is a Autonomus institution function under the Ministry of Ayush. ii.It works for the promotion and advancement of the knowledge and practice of Ayurveda. Director – Tanuja Nesari Headquarters – New Delhi, Delhi Established in – 2017
OECD’s International Migration Outlook 2023: India Remains Top Country of Origin for New Migrants to OECD Nations in 2021According to the “International Migration Outlook: 2023” published by the Organisation for Economic Co-operation and Development (OECD), for the 2nd consecutive year, India has retained the its position as the top country of origin for new migants to the member countries of OECD in 2021.
More than 407,000 people (excluding students) have migrated from India to OECD countries in 2021. This accounts to around 7.5% of the total migration flow. This was 86% higher than 220,000 Indians in 2020.
China is ranked 2nd with 227,000 new migrants followed by Romania (215,000); Ukraine (189,000); and Germany(119,000).
Note: OECD is a group of 38 countries, most of which are high-income and ranked very high on the Human Development Index (HDI). About Organization for Economic Co-operation and Development (OECD): Secretary-General– Mathias Cormann Headquarters– Paris, France Established on– 30 September 1961
Kotak Mahindra Bank Partners With NeSL to issue e-Bank Guarantees Kotak Mahindra Bank Limited(KMBL) has entered into a partnershipwith National E-Governance Services Limited (NeSL) to issue its inaugural electronic Bank Guarantee (e-BG) through the platform of KMBL.
This partnership will enable KMBL to digitize the entire process of issuing and managing Bank Guarantees, which will significantly reduce the turnaround time(TAT) and eliminate the need for paper-based documentation.
NeSL’s Digital Documents Execution (DDE) technology will give real-time access to e-BG.
e-BG: e-BG is a digital equivalent of a traditional paper-based Bank Guarantee. It is a guarantee issued by a bank to a beneficiary on behalf of an applicant, promising to pay the beneficiary a specific amount of money if the applicant fails to fulfill a certain obligation.
India to surpass Japan to Become 2nd Largest Economy in Asia by 2030: S&P GlobalAccording to Purchasing Managers’ Index (PMI) data of Standard & Poor (S&P) Global Market Intelligence, India will become Asia’s second-largest economy by 2030 with a Gross Domestic Product (GDP) of USD 7.3 trillion. India will also become the world’s third-largest economy.
PMI also forecasted that India’s GDP will grow at 6.2-6.3% in the financial year 2023-24 (FY23-24).
Top Economies(of the world): i.United States of America(USA) is the world’s largest economy with a GDP of USD 25.5 trillion. ii.This is followed by China, Japan, and Germany in second, third, and fourth respectively (largest economy) with a GDP of USD 18 Trillion, USD 4.2 trillion, and USD 4 trillion respectively. Fifth Largest Economy: i.India overtook the United Kingdom(UK)and became the fifth-largest economy in the world with a GDP of USD 3.7 trillion.
India is also Asia’s third largest economy after China and Japan.
ii.By 2030, India will surpass Japan & Germany and become the third-largest economy in the world and the second-largest economy of Asia. Factors in favor of India Economy FY23-24: i.The Indian economy has continued to grow strongly in 2023, following two years of rapid growth in 2021 and 2022. ii.In the first quarter(Q1) of FY23-24, the economy grew at 7.8%. FDI: i.The increasing flow of foreign direct investment(FDI) into India over the past decade shows that investors are optimistic about the country’s long-term growth prospects. ii.This is due to the fact that Indian demography is dominated by the youth population. Digital Transformation: The rapid growth of e-commerce and the shift to fourth-generation (4G) and fifth-generation (5G) smart-phone technology are expected to accelerate the growth of e-commerce and to change the retail consumer market landscape.
By 2030, around 1.1 billion Indians will have internet access as compared to 500million users in 2020.
Growth Driver: i.India’s large and rapidly growing middle class is a major driver of consumer spending, which is fueling economic growth. ii.The country’s large domestic market and industrial sector have made it a prime investment destination for multinational companies in a wide range of sectors, including manufacturing, infrastructure, and services.
NLC incorporated NLC India Green Energy Limited for Renewable Energy InitiativesNeyveli Lignite Corporation(NLC) India Limited incorporated a wholly owned subsidiary NLC India Green Energy Limited (NIGEL) to focus on Renewable energy initiatives. About NIGEL: i.NIGEL’s logo was unveiled along with the appointment of key managerial positions at the first Board meeting of the company. ii.NLC’s green arm NIGEL is expected to establish Renewable energy projects to the capacity of 5 Gigawatt (GW) by 2030.
NLC already developing Projects to the tune of 2 GW in various parts of India.
iii.As per the Optimal Energy Mix Report 2030 of the Central Electricity Authority (CEA), Ministry of Power, the envisaged BESS (Battery Energy Storage System) on the Grid is about 41.65 GW and this provides an opportunity for storage system development. Note: CMD of NLC Prasanna Kumar Motupalli is also the Chairman of NIGEL. About NLC India Limited: Neyveli Lignite Corporation(NLC) India Limited is a Navratna company under the government of India. Chairman cum Managing Director(CMD)– Prasanna Kumar Motupalli Headquarters– Chennai, Tamil Nadu Incorporated in -1956
Paras Aerospace receives 2nd Type Certification from DGCA for its Agri Drone Mumbai(Maharashtra)-based Paras Aerospace Private Limited, a subsidiary of Paras Defence & Space Technologies Limited, has received its 2nd Type certification from Directorate General of Civil Aviation (DGCA) for its agricultural drones – “Paras-Agricopter V2.1”. The certification is issue for MEDIUM Drone Category.
This will allow Paras Aerospace to honour its existing contracts for “Paras-Agricopter V2.1”.
This will also enable Paras to explore new opportunities in the agricultural drone industry.
Previously in April 2023, Paras Aerospace received a “Type Certificate” from DGCA for its Agri Drone “Paras-Agricopter”.
Note:
The DGCA Type Certification is issued after a through evaluation and certification process for unmanned aerial vehicles (UAV). This validates the drone’s quality and design.
This certificate is valid until it is revoked or suspended.
US Presidnet Biden honoured Indo-American Scientists Ashok Gadgil & Subra Suresh with National MedalOn October 24, 2023, Joe Biden (Joseph Robinette Biden Jr.) President of the United States of America honoured the 21 innovators, including 2 Indo American scientists: Subra Sureshand Ashok Gadgil, with National Medal of Science (9) and National Medal of Technology and Innovation (12), the USA’s highest Award for Science and Technology.
Subra Suresh, Massachusetts Institute of Technology, Brown University, was honoured with National Medal of Science.
Ashok Gadgil, University of California, Berkeley, Lawrence Berkeley National Laboratory(LBNL), was honoured with National Medal of Technology and Innovation.
The award ceremony was held at the East Room of the White House in Washington DC, USA. About United States (US): President– Joe Biden Capital– Washington, D.C(District of Columbia) Currency– US Dollar
Dr. Jitendra Singh Awards ‘Anubhav’ Prizes in 2023 and Speaks at Pre-Retirement Counselling (PRC) Workshop and All India Pension AdalatThe Department of Pension and Pensioners’ Welfare (DoP&PW) hosted the Anubhav Awards 2023 Ceremony at Vigyan Bhawan, New Delhi on October 23. Dr. Jitendra Singh emphasized various administrative initiatives that have been put in place, ensuring the timely disbursement of pensionary benefits to retiring employees. i.These initiatives include:
Pre-Retirement Counselling workshops
Anubhav Awards
Pension Adalat
Anubhav Awards 2023: After evaluation, 4 individuals from 8 different ministries, departments, and organizations were honored with Anubhav Awards, and 9 jury certificates were also awarded for the first time to foster broader participation. During the event, Dr. Jitendra Singh launched the National Digital Life Certificate (DLC) Portal for the Nation-wide DLC Campaign 2.0. This significant initiative, led by the Secretary of the DoP&PW, Shri V. Srinivas, was announced. Punjab National Bank (PNB) and Bank of Baroda have seamlessly integrated their pension portals into the Integrated Pensioners’ Portal, a significant development.
India Cricketer MS Dhoni Appointed as Brand Ambassador of Lay’s Mahendra Singh Dhoni (MS Dhoni), Former captain of the Indian Cricket Team, has been appointed as the brand ambassador of PepsiCo India’s potato chips brand Lay’s.
As the brand ambassador, he will feature on the ‘No Lay’s, No Game’ campaign of Lay’s and promote the match-viewing experience with Lay’s chips.
The ‘No Lay’s No Game’ is a global campaign associated with football icons Thierry Henry(France) and Lionel Messi(Argentina).
Note: Recently MS Dhoni was appointed as the brand ambassador of JioMart, thee-commerce platform of Reliance Retail, a retail initiative of Reliance Industries Limited(RIL).
Pakistan Successfully Conducts Training Launch of Ghauri Weapon SystemPakistan Army successfully conducted a training launch of the Ghauri Weapon System, a medium-range, road-mobile, ballistic missile system indigenously developed by Pakistan, to test the operational and technical readiness of Army Strategic Forces Command (ASFC).
The launch was witnessed by Lieutenant General Muhammad Shahbaz Khan Commander ASFC, senior officers from the strategic forces, scientists, and engineers of the strategic organisation.
Note: Previously on 18th October 2023, Pakistan successfully conducted the flight test of Ababeel Weapon System, the ballistic missile system, in Islamabad, Pakistan. About Ghauri Weapon System: i.It is capable of carrying both conventional and nuclear warheads and has a reported range of approximately 1,300 to 1,500 kilometers. ii.The missile system aims to strengthen deterrence and enhance strategic stability in the region through “the operationalization of Full Spectrum Deterrence in the overall construct of Credible Minimum Deterrence”. iii.The test aimed to revalidate the design and technical parameters of the system including the advanced post-separation attitude correction system for anti- ballistic missile defense (BMD) and an advanced terminal and mid-course navigation system. Additional info: i.Recently, the United States of America (US) imposed sanctions on 3 Chinese companies for supplying missile-related items to Pakistan’s ballistic missile program. ii.China remains a key ally of Pakistan and the main supplier of military equipment to Islamabad’s military modernisation programme. About Pakistan: Capital– Islamabad President– Arif Alvi Prime Minister– Anwaarul Haq Kakar (Interim) Currency– The Pakistani rupee (PKR)
62nd Indo-Tibetan Border Police Raising Day – 24th October 2023Indo-Tibetan Border Police (ITBP) Raising day is annually celebrated on 24th October to mark the establishment of the ITBP, a Central Armed Police Force functioning under the Ministry of Home Affairs(MHA), in 1962.
The day also honour the dedication of the ITBP in safeguarding the security of borders of India and promote sense of security among the people living in border areas.
24th October 2023 marks the observance of the 62nd ITBP Raising Day. About Indo-Tibetan Border Police (ITBP): Director General– Sh. Anish Dayal Singh, IPS Headquarters– New Delhi, Delhi Established on– October 24, 1962 Motto– Shaurya-Dridhata-Karma Nishtha (Valour – Determination – Devotion to Duty)
Disarmament Week 2023- October 24 to 30The United Nations (UN)’s Disarmament Week is annually observed across the globe in the week starting on 24 October, the anniversary of the founding of the UN, to spread awareness of disarmament initiatives that have been historically used by countries throughout the world to establish international peace and security.
The UN Disarmament Week is observed from 24-30 October.
This day aims to promote awareness and a better understanding of disarmament issues and their importance.
Bharat Tex 2024: India to host the World’s Largest Textiles Event in Feb 2024 in New Delhii.India is all set to host its textile festival namely ‘Bharat Tex 2024’- the world’s biggest ever textiles event in the world in terms of exhibition area from February 26 to 29, 2024 at Bharat Mandapam & Yashobhoomi in New Delhi, Delhi. ii.The announcement for the same was made during the curtain raiser event for the show at Vanijya Bhavan in Delhi on October 23, 2023 which was attended by the Union Minister PiyushGoyal, Ministry of Textiles. iii.It will represent India’s 5F vision i.e. Farm to Fibre to Factory to Fashion. iv.Expo will be organized by the Consortium of 12Textile Export Promotion Councils (EPCs) with the support of the Ministry of Textiles. About Cotton Corporation of India (CCI): It is a Mini Ratna Company under Ministry of Textiles Chairman & Managing Director– Lalit Kumar Gupta Headquarters– Mumbai, Maharashtra Establishment– 1970
Exercise Harimau Shakti 2023: India-Malaysia Joint Army Exercise begins in MeghalayaOn October 23, 2023, Exercise Harimau Shakti 2023, the two-week Indo-Malaysia joint military exercise between the Indian Army (IA) and the Malaysian Army, commenced at the Umroi cantonment, located in Ri Bhoi district of the northeastern state of Meghalaya. The exercise isscheduled till November 5, 2023. Abotu Harimau Shakti: i.Harimau Shakti, the Indo-Malaysia jointexercise, has been conducted annually since 2012 to foster the bilateral relations between the two nations. ii.The last edition of the exercise, Harimau Shakti 2022, was conducted in Pulai, Kluang, Malaysia in November 2022. Harimau Shakti 2023: Aim:
To strengthen military ties between India and Malaysia
To enhance military capability for the conduct of Multi Domain Operations in a sub-conventional scenario
Participants: It engaged approximately 120 personnel from both sides. i.India is represented by a Battalion of the Rajput Regiment. ii.The Malaysian contingent is made up of troops from the 5th Royal Battalion of the Malaysian Army. Key Points: i.The exercise focused on high degree of Physical fitness, Tactical drills, and Sharing best practices. ii.It included Helicopters and drones, Evacuation and casualty management simulations, Logistics planning, Battalion-level survival drills iii.Both sides will rehearse the employment of joint forces in jungle/semi-urban/urban environments, along with casualty management and evacuation drills. iv.There will be logistics management and practice survival training at the Battalion level. v.The Exercise will culminate with a 48-hour long validation exercise in a semi-urban area. About Malaysia: Prime Minister– Anwar Ibrahim Capital– Kuala Lumpur Currency– Malaysian Ringgit
RBI announced results of 2nd edition of its Global Hackathon – HARBINGER 2023The Reserve Bank of India (RBI) introduced second edition of its global hackathon, “HARBINGER 2023 – Innovation for Transformation” Theme: Inclusive Digital Services. This event was announced on February 14, 2023. The hackathon received 154 proposals submitted by teams from both India and 28 participating teams/entities from countries such as Australia, Canada, Germany, Singapore, Sweden, the United Kingdom, and the United States of America. Winners of HARBINGER 2023 in 4 key areas: 1.) Innovative, easy-to-use, digital banking services for differently abled (Divyaang).- Ezetap Mobile Solutions Pvt Ltd (Now acquired by Razorpay), India 2.) RegTech solutions to facilitate more efficient compliance for Regulated Entities (REs) – WeavAir, Singapore 3.) Exploring use cases/solutions for Central Bank Digital Currency -Retail (CBDC-R) transactions, including transactions in offline mode – Dygnify Ventures Private Limited, India 4.) Increasing Transactions Per Second (TPS)/ throughput and scalability of blockchains – Fortis Net Ltd., UK About RBI Established: 1 April 1935 Governor: Shaktikanta Das Headquarter: Mumbai, Maharashtra
ADB Approves USD 175 Million Loan to Upgrade Roads in Madhya PradeshThe Asian Development Bank (ADB) has approved a USD 175 million loan for ‘India : Enhancing Connectivity and Resilience of the Madhya Pradesh Road Network Project’.
The project aims to upgrade about 500 kilometers of state highways and major district roads to a standard two-lane feature in Madhya Pradesh(MP).
About the Project: i.The project was initially proposed by ADB in September 2023. ii.The project will build better, safer, and more climate-resistant roads in MP to connect rural areas to growth centres and industrial corridors. iii.The project will also incorporate climate- and disaster-resilient design, innovative road safety elements, and facilities that will respond to the needs of the elderly, women, children, and people with disabilities. iv.It prepares the road subsector development strategy with the focus on climate change resilience, low-carbon development, and road safety. Partnership with MPRDC i.ADB is partnering with Madhya Pradesh Road Development Corporation Limited (MPRDC), to build the capacity of MPRDC in climate change adaptation and mitigation, disaster resilience, and road safety. ii.ADB along with MPRDC, to formulate a gender equality and social inclusion strategy.
An internship program will be made to attract female students to work in the road sector.
Background: i.The ADB has been supporting the development of road networks in Madhya Pradesh since 2002. ii.ADB has so far upgraded more than 9,000 kilometers of state highways and major district roads. About Asian Development Bank (ADB): President –Masatsugu Asakawa Headquarters – Mandaluyong City, Manila, Philippines Established in – 1966 Members – 68
RBI Allows Retail Investors to Subscribe to FRSBs 2020 (T) via Retail Direct PortalOn October 23, 2023, the Reserve Bank of India (RBI) in consultation with the Government of India (GoI), has expanded the range of products offered through RBI Retail Direct portal by allowing retail investors to subscribe to Floating Rate Savings Bonds , 2020 (Taxable)-FRSB 2020 (T).
Previously, the retail investors were allowed to invest in central government securities, treasury bills, state government securities and sovereign gold bonds through this portal.
The subscription of bonds will be in the form of cash (up to Rs 20,000 only)/drafts/cheques or any electronic mode.
Point to note: Prior to this, the FRSB 2020 (T) was only available at designated branches of State Bank of India (SBI), Nationalised Banks, private banks specified by RBI and other entities authorised by RBI as per the guidelines of Floating rate bonds released by GoI in June 2020.
Now, FRSBs can be brought through retail Direct Portal.
About RBI-Retail Direct Scheme: The Prime Minister (PM) of India Narendra Modi launched the scheme on November 12, 2021, allowing individual investors to open a Retail Direct Gilt (RDG) account with the Reserve Bank of India via an online portal (https://rbiretaildirect.org.in). This account facilitates investments in government securities in both primary and secondary markets. Click Here for Official Details about RBI Retail Direct Scheme Note: Individuals who are retail investors are permitted to open an RDG account. What is FRSB 2020 (T)? i.These are interest bearing, non-tradeable bonds, issued by the GoI, mature after seven years from the issue date. ii.FRSB 2020 (T) features a floating interest rate paid semi-annually on January 1st and July 1st. Residents in India (including joint holdings) can invest, with a minimum of Rs 1000 and its multiples, and are bot open to NRIs (Non-Resident Indians).
These bonds are taxable under the Income Tax Act, 1961 and are issued at par.
iii.The interest rate on RBI savings bonds has been increased from 7.35% to 8.05% until June 30, 2023.
The interest rate on RBI FRSB has a spread of 0.35% over and above the interest rate on the National Savings Certificate (NSC).
iv.The interest rate on these bonds is reset every 6 months(on January 1 and July 1 every year).
SEBI Empanels 12 Entities to Provide Digital Forensic ServicesThe Securities and Exchange Board of India (SEBI) has empanelled 12 entities, including Ernst & Young LLP (EY), KPMG Assurance and Consulting Services LLP, to provide digital forensic services to its search team for onsite data acquisition during search and seizure operations.
This empanelment will be valid for 2 years.
Other empanelled entities:
Baker Tilly Business Advisory Services,
Cybermate Forensics & Data Security Solutions,
Cyint Technologies,
ECS Info Tech,
Innefu Labs,
Mahen Technologies,
Nangia & Co LLP,
Netrika Consulting India,
Pelorus Technologies, and
Systools Software.
Note: SEBI has been actively cracking down on entities involved in illicit activities, such as a front-running scam that made use of the messaging app Telegram in 2022. Background: In August 2023, the SEBI initiated the empanelment process by inviting applications from service providers with a strong background in digital forensic services for acquisition, extraction, and analysis of digital evidence sourced from diverse devices, including mobile phones, computers, tablets, and more. Services to be provided by the Entities: i.The empanelled entities will provide onsite and offsite assistance to the search team and onsite data acquisition during search and seizure operations. ii.They will also conduct the forensic acquisition or imaging of different digital devices, including laptops, hard drives, Universal Serial Bus (USB) drives, Compact Discs (CD)/DVDs, and servers. iii.They will also do onsite acquisition of cloud data from platforms like Gmail, Facebook, YouTube, Instagram, Telegram, WhatsApp, and any other relevant app or database. About Securities and Exchange Board of India (SEBI): SEBI is the regulatory authority for the capital market. It was established as a statutory body in 1992 and the provisions of the SEBI India Act, 1992 (15 of 1992) came into force on January 30, 1992. Chairperson– Madhabi Puri Buch Headquarters– Mumbai, Maharashtra
Japan Becomes 1st Country Ever To Fire Electromagnetic RailgunThe Japanese Maritime Self-Defense Force (JMSDF), along with the Acquisition Technology & Logistics Agency (ATLA), which comes under the Ministry of Defense of Japan, has successfully test-fired a medium-caliber maritime electromagnetic railgun from an offshore platform .
With this, Japan became the first country in the world to successfully test-fire a maritime railgun from an offshore platform.
What is a Railgun? i.A railgun is a type of weapon that uses electromagnetic force to launch high-speed projectiles (at about Mach 7). ii.The projectiles do not contain explosives, but instead rely on their mass, speed, and kinetic energy to inflict damage. iii.Railguns could be used to target a wide range of aerial threats at sea, including hypersonic cruise missiles and hypersonic ballistic missiles. iv.Railguns are stealthy to some extent (due to their small bullets). About Japan Railgun: i.It is a medium-sized electromagnetic railgun. ii.It can shoot a 320g (or 0.7lb) 40mm steel rounds bullet at a speed of around 2,230 m/s (Mach 6.5). iii.These railguns will be inducted into Japan’s defense system in the second half of 2020s(after 2025) after conducting several rounds of testing. iv.These railguns can fire interceptors as well at the desired speeds. Japan railgun development: i.ALTA’s Ground Systems Research Centre (GSRC) started a 16mm railgun project in 1990. ii.By 2016, ATLA initiated a project to create a railgun prototype with anti-air and anti-missile capabilities. iii.A small-caliber research railgun, together with relevant support and testing tools was developed by ALTA in 2018. Note:The tested railgun by ATLA is a more extensive railgun with better capabilities than initially envisioned. Additional Info: Japan is increasing its military capabilities, which include plans to accelerate the procurement of Tomahawk cruise missiles, develop its own long-range missiles, and acquire the ability to strike enemy military bases. About Japan: Prime Minister– Fumio Kishida Capital– Tokyo Currency– Japanese Yen (JPY)
Badminton: India’s Unnati Hooda Win Women’s Singles Title in the Abu Dhabi Masters 2023 India’s Unnati Hooda won the women’s singles title in the Abu Dhabi Masters 2023 badminton tournament held at the ADNEC Marina Hall, Abu Dhabi, United Arab Emirates (UAE) from 17 – 22 October 2023.
Indian Duo of Ashwini Ponappa and Tanisha Crasto won the women’s Doubles title.
The tournament was organized by UAE Badminton Federation with sanctions from the Badminton World Federation (BWF).
Winners ofAbu Dhabi Masters 2023: i.Men’s Single:Mads Christophersen(Denmark) won the men’s singles title by defeating Mark Caljouw(the Netherlands) in the finals.
Indians Kiran George and Raghu Mariswamy lost in the semifinals.
ii.Men’s Doubles:Malaysian pair Goh Sze Fei and Nur Izzuddin Rumsani won the men’s doubles title by defeating Thailand’s Pharanyu Kaosamaang and Worrapol Thongsanga in the finals. iii.Women’s Singles:The 16-year-old Unnati Hooda won the women’s singles title by defeating 20-year-old Samiya Imad Farooqui(India) in the finals.
This marks Unnati Hooda’s second Super 100 title including her win in the Odisha Open 2022. she made the record of the the youngest Indian to win a BWF tournament at the age of 14.
iv.Women’s Doubles:Indian Pair Ashwini Ponappa and Tanisha Crasto won the Women’s singles title by defeating Denmark’s Julie Finne-Ipsen and Mai Surrow in the final.
This also marks Ashwini Ponappa and Tanisha Crasto’s first BWF World Tour title.
Ashwini Ponappa and Tanisha Crasto defeated another Indian pair N Sikki Reddy and Arathi Sara Sunil in the semifinals.
v.Mixed Doubles:Mads Vestergaard and Christine Busch of Denmark won the mixed doubles title by defeating Terry Hee Yong Kai and Jessica Tan Wei Han of Singapore. About Abu Dhabi Masters 2023:
Total Prize Money – USD 120,000
This event was the twenty-sixth BWF World Tour event in 2023.
The BWF World Tour is divided into six levels, namely World Tour Finals, four Super 1000, six Super 750, seven Super 500, and 11 Super 300.In addition, the BWF Tour Super 100 level offers ranking points.
Chess: Nodirbek Yakubboev wins Qatar Masters Open 2023 Title; India’s S L Narayanan Secures Third Place The GrandMaster(GM) Nodirbek Yakubboev (Uzbekistan) won the Qatar Masters Open 2023 Title held at Lusail Sports Arena, Qatar from 11th to 20th October 2023.
GM Nodirbek Abdussatorov (Uzbekistan) secured second place while S L Narayanan(India) secured third place in the Qatar Masters Open 2023.
International Master (IM) Vaishali Rameshbabu (India) secured the women’s champion title while IM Divya Deshmukh(India) and Woman International Master (WIM) Alua Nurmanova (Kazakhstan) secured second and third highest ranks among women players.
The 22-year-old Vaishali Rameshbabu secured the third and final Grandmaster (GM) norm.
GM Karthikeyan Murali becomes the third Indian to defeat GM Magnus Carlsen in Classical Chess after Harikrishna and Viswanathan Anand.
FIDE Master(FM) NA Rustum Tolentino (Philippines) won the Qatar Masters Open 2023 section B title.
About Federation Internationale des Echecs/International Chess Federation (FIDE): President – Arkady Dvorkovich Headquarters – Lausanne, Switzerland Established – 1924
Eminent Assamese Scholar & Padma Shri AwardeeBirendraNathDatta Passed AwayPadma Shri AwardeeBirendraNathDatta, an eminent Assamese scholar, Linguist, and Singer, passed away at the age of 88 in Guwahati, Assam. He was born on March 1, 1935 in Nagaon, Assam. About BirendraNathDatta: i.He started his academic career as a lecturer at the B Borooah College in 1957 in Assam and later served in various colleges of Assam. ii.He retired as the esteemed Head of the Department (HOD) of Folklore Research at Gauhati University(Guwahati, Assam) in 1995. iii.After his retirement, he joined Tezpur University (Assam) as a professor in the Department of Traditional Culture and Art Forms. iv.He has also served as the founder Principal of the Pramathesh Barua College, Gauripur (Assam), popularly known as P. B. College. v.He also served as the President of Assam’s premier literary organisation, AsamSahitya Sabha, for 2 terms in 2003 and 2004, and a life member of the Gauhati Artists’ Guild. Notable Works: A Study of the Folk Culture of the Goalpara Region of Assam (1995); Goalpariya Lokagit Sangraha (Assamese) (2010) (This book is a collection of folksongs of the Goalpara region of Assam); Cultural Contours of Northeast India (2012). Awards: i.He was awarded the Padma Shri in 2009 for Literature and Education; ii.For the book Shankar-Madhav Manisha AaruSanskritikUttaradhikar, he won the 12th Jagaddhatri-Harmohan Das Literary Award in 2010. iii.He also received the Tagore Ratna Award of Sangeet Natak Akademi in 2012.
Legendary India spinner & Padma Sri Awardee Bishan Singh Bedi Passed AwayFormer Indian cricketer, legendary left-arm spinner and Padma Shri awardee, Bishan Singh Bedi, passed away at the age of 77. He was born on 25th September 1946 in Amritsar, Punjab. About Bishan Singh Bedi: Career: i.Bishan Bedi made his debut for India against West Indies at Eden Gardens (Kolkata, West Bengal)on December 31, 1966. ii.He played 67 Tests for India between 1967 and 1979 and captained Team India for 4 years in the Test format between 1975 and 1979. iii.He led Delhi to its first two Ranji Trophy titles (in 1978-79 and 1979-80). He also led Punjab to its only Ranji Trophy win (in the 1992-93). iv.He played for Northamptonshire in 102 outings (1972 and 1977), and took 434 wickets, which is the most by an Indian in County cricket.
Bedi was one of the most successful overseas players in English county cricket.
v.He made his final international appearance for India against England at the Kennington Oval in 1979. He became the first professional head coach of India in 1990. Record: i.He took 1560 wickets (more than any other Indian bowler) in 370 matches with a bowling average of 28.71. ii.He has taken 266 wickets in 67 matches. With this, he made a record of being the highest wicket-taker in India.
In June 2023, Ravindra Jadeja surpassed Bishan Singh Bedi to become India’s most successful left-arm spinner in Test cricket by taking 267 wickets in 65 matches at an average of 24.25.
Awards: i.Government of India honoured him with the Padma Shri for sports in 1970. ii.He also received the Arjuna Award for Cricket in 1969. iii.Board of Control for Cricket in India (BCCI) honoured him with the Colonel C. K. Nayudu Lifetime Achievement Award in 2004.
United Nations Day 2023- October 24The United Nations (UN) Day is annually observed across the globe on 24 October to mark the anniversary of the day on which the UN Charter entered into force in 1945.
UN Day offers the opportunity to amplify the common agenda and reaffirm the purposes and principles of the UN Charter.
24 October 2023 marks the 78th Anniversary of the foundation of the UN.
The UN Day Concert 2023 was held under the theme “The Frontlines of Climate Action” Background: On October 31, 1945, the United Nations General Assembly (UNGA) adopted the resolution A/RES/168(II) and proclaimed the 24th of October of every year as the United Nations Day. About United Nations (UN): Secretary-General– António Guterres Headquarters– New York City, USA Established in– 1945
World Polio Day 2023 – October 24World Polio Day is annually observed across the world on 24th October to highlight the importance of the efforts to eradicate poliomyelitis (polio), the infectious disease that commonly affects children aged under 5.
24th October 2023 marks the 22nd observance of World Polio Day.
i.Polio also known as poliomyelitis, is a disabling and life-threatening disease caused by the poliovirus. ii.World Polio Day was established by Rotary International(RI) to commemorate the birth anniversary of Jonas Salk, an American virologist who developed the first successful polio vaccines. iii.The first World Polio Day was observed on 24th October 2002.
World Development Information Day 2023- October 24The United Nations (UN)’s World Development Information Day is annually observed across the globe on 24 October to draw the attention of the world to development problems and the need to strengthen international cooperation to solve them.
The day emphasises the significance of widespread information dissemination to ensure a comprehensive understanding of global development challenges.
Background: i.In 1972, the United Nations General Assembly (UNGA) adopted the resolution A/RES/3038(XXVII) and declared October 24 of every year as the World Development Information Day. ii.The first World Development Information Day was observed on 24 October 1973.
Baiga Tribe Becomes the 2nd Tribe to Get Habitat Rights in ChhattisgarhBaiga, classified as the Particularly Vulnerable Tribal Group (PVTG), in Chhattisgarh has received the Habitat rights under the Forest Rights Act(FRA) 2006. With this Baiga has become the 2nd tribal group after Kamar to get habitat rights in Chhattisgarh. Note: On August 9, 2023, during the occasion of World Tribal Day, the Chhattisgarh government granted habitat rights to the Kamar PVTG in 22 villages of the Magarlod block of the Dhamtari district. Key Points: i.The habitat rights has recognised 19 villages/para/tola of Baiga community inGaurela block in Gaurela-Pendra-Marwahi (GPM). ii.The villages cover 2,085 families with a population of 6,483 individuals (3272 males and 3210 females).
These villages received the rights in a special event organised by the district administration of GPM.
iii.The Baiga community, primarily inhabits various districts in Chhattisgarh, such as Rajnandgaon, Kawardha, Mungeli, GPM, Manendra-Bharatpur-Chirmiri, and Bilaspur.
They also have a presence in the surrounding regions of Madhya Pradesh.
Habitat rights: Habitat rights are given to PVTGs under section 3(1) (e) [rights including community tenures of habitat and habitation for primitive tribal groups and pre-agricultural communities] of The Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 also known as the FRA. Benefits: i.Habitat rights recognition is a powerful tool for promoting social justice, preserving cultural heritage, and fostering sustainable environmental practices. ii.Recognition of habitat rights empowers communities to uphold their age-old traditions and lifestyle without external interference. iii.By enabling the convergence of various government initiatives, habitat rights empower PVTGs to actively participate in the development and management of their habitats. Point to note: According to Section 2(h) of FRA, “Habitat” includes the area comprising the customary habitat and other habitats in reserved forests and protected forests of primitive tribal groups and pre-agricultural communities, as well as other forest-dwelling Scheduled Tribes. PVTGs in India: i.The Ministry of Tribal Affairs (MoTA) designates specific tribal communities as PVTGs based on certain criteria. ii.These groups typically exhibit technological backwardness, limited population growth, low literacy rates, and subsistence-level economies. iii.They often inhabit remote, isolated areas in small, scattered hamlets. As of now, 75 PVTGs have been identified across 18 states and one Union Territory based on the recommendations of the Dhebar Commission (1960-61).
Out of 75 PVTGs in India, only 3 have habitat rights.
The Bharia PVTG in Madhya Pradesh was the first, followed by the Kamar tribe and the Baiga tribe in Chhattisgarh.
PVTGS in Chhattisgarh: i.Chhattisgarh is home to 7 PVTGs (Kamar, Baiga, Pahadi Korba, Abujhmadiya, Birhor, Pando, and Bhujia) residing across 17 districts out of the total 33. ii.These groups contribute to the intricate cultural tapestry of the region. About Chhattisgarh: Chief Minister– Bhupesh Baghel Governor– Biswabhusan Harichandan Wildlife Sanctuaries– Barnawapara Wildlife Sanctuary and Bhairamgarh Wildlife Sanctuary
Rajasthan Launches ‘iStart Talent Connect Portal’ To Boost Employment Opportunities The government of Rajasthan launched the “iStart Talent Connect Portal” under iStart Rajasthan, the flagship initiative of the Rajasthan Government in collaboration with Jaipur-based startup Hyrefox. The portal was launched during the Bhamashah Techno Hub, Jaipur, Rajasthan.
The portal was developed to support the job providers and job seekers with a user-friendly platform.
The portal will allow the companies to hire potential talents and let them post job opening details and connect with job seekers.
Since its launch in 2017, iStart Rajasthan has played a major role in supporting local talents and new-age sectors and ventures.
UP Govt Set Up URIDA to Implement CM Grids Scheme The Urban Development Department of the Government of Uttar Pradesh has established an Urban Road Infrastructure Development Agency (URIDA) which will be responsible for implementing the Chief Minister Green Road Infrastructure Development Scheme (Urban) (CM Grids Scheme) on the ground.
In October 2023, the UP cabinet approved the CM Grids Scheme worth Rs 500 crore to construct roads of international standards in all cities.
GMIS 2023: PM Modi Inaugurates the 3rd Edition and Unveils ‘Amrit Kaal Vision 2047Prime Minister Narendra Modi virtually inaugurated the 3rd edition of the Global Maritime India Summit (GMIS) 2023 held form October 17 to 19, 2023 at the MMRDA Grounds in Mumbai. During the event, the Prime Minister unveiled “Amrit Kaal Vision 2047—blueprint for Indian Maritime blue economy.”This visionary blueprint sets the stage for various maritime projects worth over Rs 23,000 crores. i.PM Modi laid the foundation for multiple projects, aiming to unlock ₹80 lakh crores of investment for maritime sector development. ii.GMIS saw Investments worth Rs 10 Lakh Crore and 360 MoUs, Featuring 34 Deals Valued at Rs 3.24 Lakh Crore on Day 1 iii.GMIS records major investment of Rs 2.37 lakh crore on Day 2 iv.TCI Group Honored as Maritime Excellence Achiever at GMIS 2023 by Ministry of Ports, Shipping & Waterways About Ministry of Ports, Shipping, and Waterways: Union Minister – Sarbananda Sonowal, (Rajya Sabha Constituency – Assam) Minister of State (MoS) –Shripad Yesso Naik; Shantanu Thakur
Union Defence Minister Rajnath Singh Inaugurated1stIndian Military Heritage Festival 2023 in New DelhiOn 21st October 2023, Union Minister Rajnath Singh, Ministry of Defence(MoD), inaugurated the first edition of Indian Military Heritage Festival (2023)at the Manekshaw Centre in New Delhi, Delhi.
The festival, organized by the United Service Institution of India (USI) – Centre for Military History & Conflict Studies (CMHCS), was held from 21st to 22nd October 2023.
The 2-day festival celebrated the rich military culture and heritage of India through conversations, art, dance, drama, story-telling and exhibitions.
During the festival, Union Defence Minister Rajnath Singh launched the Project Udbhavto promote the indigenous discourse through the integration of ancient strategic acumen into the military domain. Note: The Indian Military Heritage Festival was launched as a key annual event during India’s G-20 presidency in 2022-2023. About United Service Institution of India (USI): USI is the oldest tri-service think tank of India working since 1870, and dedicated to national security and defense services. Director General– Major General BK Sharma Headquarter– New Delhi, Delhi
NBBP Launches B2B Services, Partners with Axis BankNPCI Bharat BillPay Limited(NBBP) has partnered with Axis Bank to launch its services under the Business-to-Business (B2B) category to provide businesses value-added services like flexible invoice presentation, complaint management, Management Information System(MIS), etc.
NBBP’s B2B Category Payments went live for the first time on e MyJio app for Arzooo, a B2B Retail Tech platform, with Axis Bank as the Biller Operating Unit (BOU).
First B2B Category Payment: With the first B2B Category payment,
MyJio became the 1st app to go live with the B2B Category Payments.
Arzooo became the first biller in this category with support from Jio Payments Bank.
Axis Bank became the first BOU enabling B2B payments.
Note: NPCI Bharat BillPay Limited(NBBP) is a wholly-owned subsidiary of National Payments Corporation of India (NPCI). NBBP’s service under B2B category: Under the B2B category, NBBP will onboard sellers as billers and enable their buyers to pay for the goods and services across NBBP enabled channels and modes. i.Under this, Bharat BillPay will enable sellers to issue multiple invoices to their buyers and the buyers will have the flexibility to pay one or more invoices in a single transaction. ii.Payment Modes & Channels: The platform will offer a wide range of payment modes, such as Unified Payments Interface (UPI), net banking, cards, wallets, Immediate Payment Service (IMPS), cash, etc., and multiple payment channels like Mobile app, Website, Agent, Branch etc.. iii.To meet the cash flow requirements of the B2B segment, Bharat BillPay will also allow partial payments in this category. Positive impacts: i.The move aims to digitize and democratise of B2B invoice payments. ii.Since the process is quick, cost-effective and simpler to adopt, Micro, Small & Medium Enterprises(MSME) segment will be benefitted. About Axis Bank Limited: Managing Director(MD) & Chief Executive Officer(CEO) – Amitabh Chaudhry Headquarters – Mumbai, Maharashtra Established in – 1993 Tagline – Badhti Ka Naam Zindagi About NPCI Bharat BillPay Limited (NBBL): Chief Executive Officer(CEO) – Noopur Chaturvedi Headquarters – Mumbai, Maharashtra Established in – 2021
EIB Delegates Examined Agra, Kanpur and Lucknow Metro Construction A three-member delegation from the European Investment Bank (EIB) examined Metro rail works in Agra, Kanpur and Lucknow which is being constructed under Uttar Pradesh Metro Rail Corporation(UPMRC).
EIB had funded these metro rail projects.
These project are in par with the international quality and safety standards.
Funding in Agra metro: i.Agra Metro Rail Project is being build at the total cost of EUR 908 million. ii.The European Investment Bank (EIB) is providing EUR 450 million in funding for this project. iii.The remaining amount is being contributed by the central and state governments of India. Funding in Kanpur Metro: i.EIB will finance the acquisition of rolling stock and the development of two metro rail corridors with elevated sections, totaling to 32.4 km with 31 stations. ii.The project was initiated in 2020 by UPMRC. iii.Out of the total estimated cost of EUR 1354 million EIB will contribute about EUR 650 million. Note: The above two projects are promoted by Uttar Pradesh Metro Rail Corporation Limited. Funding in Lucknow Metro: i.The Lucknow metro project aims to construct a 23km metro line and purchase of a fleet of about 80 metro cars in Lucknow, Uttar Pradesh. ii.The project is of total value EUR 914 million; EIB is contributing EUR 450 million. iii.Lucknow Metro Rail Corporation Limited is the promoter of the project About European Investment Bank (EIB): Werner Hoyer is the President of EIB; its headquarters in Luxembourg
8th WIF: ICAI Receives ISAR Honours 2023 from UNCTAD; TN’s Guidance wins UN Promotion Award The Institute of Chartered Accountants of India (ICAI) has been awarded the ISAR Honours 2023, 6th edition of ISAR Honours, by the United Nations Conference on Trade and Development (UNCTAD) working group on International Standards for Accounting and Reporting (ISAR).
The award was presented during the 8thWorld Investment Forum (WIF) held from October 16-20, 2023 in Abu Dhabi, United Arab Emirates (UAE) on the theme ‘Investing in Sustainable Development’.
The award acknowledged ICAI’s initiative of Sustainability Reporting Standards Board (SRSB) which received the highest score in 2023 ISAR HONORS session among 70 initiatives from around the world.
Note: ISAR Honours ceremony 2023 celebrates the 6th anniversary since its launch in 2018. About World Investment Forum (WIF): It is a biennial Forum, organised by UNCTAD since 2008 to monitor the mainstreaming of SDGs by IPAs and conducts regular surveys.
The 7th World Investment Forum was held virtually from 18th to 22nd October 2021 due to COVID-19 pandemic. It was originally planned to take place in Abu Dhabi, UAE.
Highlight: ICAI also received UNCTAD ISAR Chair for the 40th session, a second consecutive session for ICAI, during WIF.
CA. (Dr.) Sanjeev Kumar Singhal, Central Council Member from ICAI chaired the UNCTAD ISAR session.
Key Initiatives by ICAI: i.In 2022, ICAI formed a Section 8 Company , ‘The Institute of Social Auditors of India (ISAI)’, to fostering proficient, ethical and world-class social auditors, at par with the expectations of the stakeholders. ii.ICAI also issued 16 audit standards on social audits across 16 thematic focus areas, making India the first country in the world to have social impact assessment standards. About ISAR Honours: UNCTAD launched the pilot edition of ISAR Honours on 24 October 2018. This aims to aims to support efforts on enhancing the quality and comparability of companies’ reporting on their contribution to the 2030 Agenda for Sustainable Development. Objective: To raise awareness and facilitate dissemination of national and international best practices on sustainability and Sustainable Development Goals (SDGs) reporting as an integral of annual reporting by companies. About ISAR: ISAR is a Standing Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting created by Economic and Social Council (ECOSOC) in 1983 and coordinated by UNCTAD. TN’s Guidance wins UN Promotion Award Guidance the Investment Promotion Agency (IPA under the Department of Industries, Investment Promotion and Commerce, Government of Tamil Nadu (TN), was honored with the 2023 United Nations (UN) Promotion Award for Excellence in Scaling Up Energy Transition Investments during the 8th WIF.
The award acknowledges Guidance’s innovative efforts in attracting investments and promoting partnerships for energy transition.
V Vishnu, Managing Director (MD) and Chief Executive Officer(CEO) of Guidance, received the award from RebecaGrynspan, Director General of UNCTAD.
Note: Guidance is South Asia’s onlyIPA to get the UN Award in 2023. Key Points: i.Guidance was reconsigned for facilitating the 1st solar investment project with a fully vertical integrated photovoltaic thin film solar module manufacturing facility, notably through green incentives and higher training incentives for women. ii.This project facilitate access to low-cost solar panels and contribute to more sustainable cities in India. UN Investment Promotion Awards 2023: i.The 2023 edition of the UN Investment Promotion Awards recognizes the work of IPAs in attracting investment for climate action, along with innovative approaches to investment promotion, finance, and partnerships. ii.A total of 10 IPAs and Special Economic Zones (SEZ) won the award.
Apart from India, it was grabbed by Brazil, China, Egypt, France, Namibia, The Republic of Korea, South Africa, Türkiye, and UAE.
CJI Chandrachud receives Harvard Law School’s ‘Award 2022 for Global Leadership’The Chief Justice of India(CJI) Dhananjay Yeshwant(DY) Chandrachud has been felicitated with the ‘Center on the Legal Profession(CLP) Award 2022 for Global Leadership’ by The Harvard Law School Center of Harvard University, Massachusetts, United States of America(USA).
He was announced as the recipient of the award in December 2022.
He was awarded in recognition of his lifetime service to the legal profession in India and around the world.
i.The Center on the Legal Profession Award is the highest professional distinction of Harvard Law School. ii.Dana Remus who is the Former White House Counsel is announced as the recipient of the award for the year 2023. About CJI: i.Article 124(1) of the Constitution of India states that there shall be a Supreme Court of India consisting of a Chief Justice of India. ii.Article 126 of the constitution deals with the appointment of an acting CJI. iii.The CJI is appointed by the President of India under clause (2) of Article 124 of the Constitution of India.
Ashok Vaswani Appointed as New MD & CEO of Kotak Mahindra Bank LimitedThe Reserve Bank of India (RBI) has approved the appointment of Ashok Vaswani as the next Managing Director (MD) and Chief Executive Officer (CEO) ofKotak Mahindra Bank Limited (KMB) for a period of 3years. The appointment is with effect from the date of taking charge, which shall not be later than January 1, 2024.
Ashok Vaswani will replace Uday Kotak who stepped down from the post in September 2023. He resigned 4 months ahead of the end of his current tenure, which is December 31, 2023.
Ashok Vaswani will succeed Dipak Gupta, the Joint MD of KMB, who is serving as the interim MD & CEO of KMB until December 31, 2023.
Ashok Vaswani is currently the president of Pagaya Technologies Ltd, the United States of America (US)-Israel Artificial intelligence (AI) fintech firm.
Note:
Uday Kotak served as the MD and CEO of the bank since its inception in 2003. In March 2023, the bank’s board approved appointing Uday Kotak as the non-executive non-independent director for 5 years.
This will be the first time that KMB will be led by an outsider (Ashok Vaswani) in its 20 or so years of operation.
About Ashok Vaswani: i.Ashok Vaswanihas more than 3 decades of experience in the banking sector. iiPrior to Pagaya, he was member of the Barclays Group Executive Team and he has also served as the CEO of consumer banking & payments and Barclays Bank UK. iii.Prior to Barclays, he was a partner with a J P Morgan Chase-funded private equity firm, Brysam Global Partners. iv.He spent 20 years with Citigroup and his last position at Citigroup was CEO, Asia Pacific, Global Consumer Bank based out of Singapore.
He was also a member of the Citigroup Operating Committee, the Citigroup Management Committee, and the Global Consumer Planning Group.
In addition, he served as a Director on the Board of Asia Pacific VISA International.
vi.He is a member of the Board of the London Stock Exchange Group and the SP Jain Institute of Global Management, UK. He has also served on the Advisory Board of Insead, Singapore as well as a Founder Director of Lend-a-Hand. About Kotak Mahindra Bank Limited (KMB): MD and CEO– Dipak Gupta (Interim) Headquarters– Mumbai, Maharashtra Established in– 1985
Sanjay Kumar Jain appointed as CMD of IRCTC Sanjay Kumar Jain has been appointed as the Chairman and Managing Director (CMD) of the Indian Railway Catering and Tourism Corporation (IRCTC).
His appointment has been approved after the recommendation of Serach-Cum-Selection Committee (SCSC).
The post was vacant since January 2021 after the retirement of Mahendra Pratap Maal.
From June 2023, Seema Kumar who is the Additional Member (Tourism & Catering) is acting as CMD (Additional Charge).
About Sanjay Kumar Jain: i.Sanjay Kumar Jain is an Indian Railway Traffic Service (IRTS) officer of 1990 batch (IRTS: 1990) ii.He is currently serving as the Principal Chief Commercial Manager in Norther Railway. iii.Previously, he served as Joint Secretary to Department of Public Enterprises under Ministry of Finance. About Indian Railway Catering and Tourism Corporation (IRCTC): It is established in 1999 & Headquartered in New Delhi, Delhi
HP Appoints Former Apple Executive IpsitaDasgupta as SVP & MD for India HP Inc. (known as Hewlett-Packard Company), has appointed former Apple executive IpsitaDasguptaas senior vice president(SPV) and Managing Director (MD) of HP’s India market.
She will take over the new position with effect from 30th October 2023 succeedingGurpreet Singh Brar, who has been serving as the Interim MD since November 2022.
As the SPV and MD, she will be responsible for all the aspects of HP’s strategy and Profit and Loss (P&L) in India, Bangladesh and Sri Lanka.
She will be reporting to David McQuarrie, Chief Commercial Officer(CCO) of HP.
About IpsitaDasgupta: i.Prior to joining HP, Ipsita served as the senior director of marketing for Apple Services based at headquarters in Cupertino, California, United States of America. ii.She has also worked as President of corporate strategy & incubated business at Star India, a Walt Disney company; and CCO for South Asia and Greater China at General Electric Company.
ISRO Launches the Gaganyaan Mission TestOn 21st October 2023, Indian Space Research Organisation (ISRO) successfully launched Gaganyaan’s first flight Test Vehicle Abort Mission-1 (TV-D1) from the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh(AP). Mission Definition: “In-flight Abort Demonstration of Crew Escape System (CES)” at Mach number 1.2 with the newly developed Test Vehicle followed by Crew Module(CM) separation & safe recovery. Mission Objective:
Test all the systems of the Test Vehicle to make sure they are working properly.
Test the CES to make sure it can safely separate the Crew Module from the Test Vehicle in the event of an emergency.
Test the CM’s ability to fly and land safely at higher altitudes.
Working: i.The flight simulated an abort condition that could occur during the ascent trajectory of the Gaganyaan mission at a Mach number of 1.2. ii.At an height of about 17 km, the CES and CM got separated from the test vehicle. iii.The CES then autonomously deployed the parachutes and slow the CM down to a safe landing in the sea, about 10 km from the coast of Sriharikota. About the Indian Space Research Organisation (ISRO): Chairman– S. Somanath Headquarters– Bengaluru, Karnataka Establishment– 1969
Red Bull’s Max Verstappen Wins 50th F1 in US Grand Prix 2023Max Verstappen, the Belgian-Dutch driver of Red Bull won the Formula 1 (F1) United States Grand Prix 2023 held at the Circuit of The Americas in Austin, Texas, The United States of America(USA) from 20- 22 October 2023.
This marks Max Verstappen’s 50th career win in the F1 and he joins Lewis Hamilton(103), Michael Schumacher(91)(Germany), Sebastian Vettel(53) )(Germany) and Alain Prost (51)(France) in the 50-win club.
This also marks Verstappen’s 15th win out of 17 races of the 2023 season, in this 15 he won 11 races in a row.
McLaren Driver Lando Norris of the United Kingdom(UK) finished second place while Ferrari driver Carlos Sainz(Spain) finished third place in the podium.
Winners of US Grand Prix 2023:
This victory also marks Verstappen’s third consecutive US Grand Prix title win(2021, 2022 and 2023).
ii.Verstappen secured the F1 World Championship 2023 title by leading the F1 Driver standing, after he won Qatar GP 2023. iii.In 2023, Max won 15 GP including the Spanish GP, Monaco GP, Miami GP, Australian GP, Bahrain GP, Canadian GP, Austrian GP, British GP, Hungarian GP, Belgian GP,Dutch GP, Italian GP, Japanese GP, Qatar GP and US GP. iv.Verstappen could become the first driver ever to win three times in the same country in a single season if he wins the F1 Las Vegas Grand Prix on 19 November 2023.
So far he had won two Grand Prix in the USA including Miami GP and US GP in 2023.
v.Lando Norris won the fan-voted Driver of the Day Award for the third time this season. About US Grand Prix: i.The 2023 US Grand Prix, officially known as the Formula 1 Lenovo United States Grand Prix 2023 was the 18th round of the 2023 Formula One World Championship. About the Circiut:The US GP has been held in the circuit of the Americas since 2012.
Number of Laps – 56
Circuit Length – 5.513km
Race Distance – 308.405 km
About Federation Internationale de l’Automobile (FIA): The F1 Grand Prix races are organised by Federation Internationale de l’Automobile (FIA). President – Mohammed Ben Sulayem Headquarters – Paris, France Established – 1904
Union Minister Hardeep Singh Puri Launched Ashok Tandon’s New Book “The Reverse Swing” Union Minister Hardeep Singh Puri, Ministry of Petroleum and Natural Gas(MoPNG) launched a book titled “The Reverse Swing: Colonialism to Cooperation” authored by Ashok Kumar Tandon, a veteran journalist and political commentator.
The book, published by PrabhatPrakashan, features stories on the relationship between India and the United Kingdom (UK), India’s colonial past and its resurgence and the current journey through the Amrit Kaal.
The book also features interesting facts about former Prime Ministers like Atal Bihari Vajpayee and P. V. Narasimha Rao.
Ashok Tandon has worked as Press Trust of India limited (PTI) Bureau Chief in London and Diplomatic Editor of the PTI in New Delhi, Delhi.
He has also served in Prime Minister Office (PMO) from 1998-2004 as incharge of Media Relations in the rank of Additional Secretary.
International Stuttering Awareness Day 2023- October 22International Stuttering Awareness Day, also known as International Stammering Awareness Day (ISAD), is annually observed across the globe on 22 October to raise awareness about Stuttering, a speech disorder that affects millions of people (about 1% of the population) across the globe. Symbol:Since 2009, the Sea-Green Ribbon has been used as a stuttering awareness ribbon for ISAD Background: i.In 1997, ISAD was first proposed by Michael Sugarman, the co-founder of the National Stuttering Project (NSP) during the closing ceremony of the International Fluency Association (IFA) in San Francisco, California, the United States of America (USA). ii.In 1998, the European League of Stuttering Associations (ELSA), the International Fluency Association (IFA), and the International Stuttering Association (ISA) declared the 22nd October of every year as “International Stammering Awareness Day” iii.The first ISAD was observed on 22 October 1998. About International Stuttering Association (ISA): Chair– Douglas Scott (USA) Headquarters– Minnesota, USA Founded in– 1995 ISA is a not-for-profit, international umbrella association made up primarily of national self-help associations for people who stutter.
International Lead Poisoning Prevention Week 2023- October 22 to 28International Lead Poisoning Prevention Week (ILPPW also known as “Week of Action”) is annually observed across the globe on the last week of October.
11th International Lead Poisoning Prevention Week is observed between October 22 to 28 2023.
i.The focus of Campaign is “End Childhood Lead Poisoning” ii.This is an initiative of the Global Alliance to Eliminate Lead Paint (Lead Paint Alliance), jointly led by the United Nations Environment Programme (UNEP) and the World Health Organization (WHO). iii.It was established in 2011. About World Health Organisation (WHO): Director General – Tedros Adhanom Ghebreyesus Headquarters – Geneva, Switzerland Established in – 1948 About United Nations Environment Programme (UNEP): Executive Director– Inger Andersen Headquarters – Nairobi, Kenya Established in – 1972
World Snow Leopard Day 2023- October 23World Snow Leopard Day, also known as International Snow Leopard Day, is annually observed across the globe on 23 October to raise awareness about the conservation and protection of Snow Leopard, one of the world’s most elusive and endangered big cats, and their natural habitat.
The Snow Leopard (Pantherauncia) are listed as Vulnerable by the International Union for Conservation of Nature (IUCN) Red List of Threatened Species.
Background: i.During the Global Snow Leopard Conservation Forum in Bishkek, Kyrgyz Republic, from 22-23 October 2013, the 12 snow Leopard range countries adopted the Bishkek Declaration on the Conservation of the Snow Leopard and declared the 23 October of every year as the International Snow Leopard Day.
With the adoption of this declaration, the Snow Leopard Range Countries endorsed a comprehensive, long-term GSLEP Program
ii.The first-ever International Snow Leopard Day was observed on 23 October 2014.
Uttarakhand CM launches NandagauraYojanaPortal for GirlsOn October 22, 2023, the Chief Minister of Uttarakhand, Pushkar Singh Dhami, launched the NandagauraYojanaPortal, an online facility to be annually available to about 50 thousand girls who are permanent residents of Uttarakhand. About NandagauraYojana : i.It allows girls in Uttarakhand to apply for financial assistance. ii.It aims to improve the gender ratio and education of girls. iii.Under this scheme, eligible parents will get Rs 11,000 at the time of birth of the girl child and later the girl child will receive Rs 51,000 on clearing class XII. Key Points: i.The CM also inaugurated the online portals of Nanda GauraYojana (NGY), a scheme to improve the gender ratio; and MukhyamantriMahalakshmi Kit Yojana (MMKY) aimed at providing nutrition and extra care to the mother and the girl child after delivery on the occasion.
These portals monitor the working progress of both these schemes.
ii.The CM handed over the appointment letters for the supervisor posts to 167 Anganwadi workers and mini Anganwadi workers. iii.There will be construction of 3,940 Anganwadi buildings in the State soon and each building will cost around Rs 12 lakh.
PM Narendra Modi Launched India’s 1st Regional Rapid Transit System in UPPrime Minister (PM), Narendra Modi inaugurated the 17 Kilometer (Km) priority section of the Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) Corridor at Sahibabad RapidX Station in Ghaziabad, Uttar Pradesh (UP).
He also flagged off the ‘Namo Bharat’ RapidX train, connecting Sahibabad to Duhai Depot (UP), which marks India’s first RRTS. Additionally, 2 stretches of the east-west corridor of Bengaluru Metro were dedicated to the public.
Note: The entire 82.15 km RRTS corridor is projected to be fully operational by June 2025. Key People: Ms Anandiben Patel, Governor of UP; Yogi Adityanath, Chief Minister of UP were present on the occasion. Delhi-Ghaziabad-Meerut RRTS Corridor: i.The 17 Km priority section of Delhi-Ghaziabad-Meerut connects Sahibabad to Duhai Depot. ii.This route features essential stations at Ghaziabad, Guldhar, and Duhai in UP. iii.It is being developed at a cost of more than Rs 30,000 crore and aims to reduce the travel time between Delhi and Meerut to less than an hour. iv.The corridor is set to pass through key urban centers: Ghaziabad, Muradnagar, and Modinagar in UP. Bengaluru Metro: i.The two new metro stretches connect Baiyappanahalli to Krishnarajapura and Kengeri to Challaghatta(Bangalore Metro Purple Line). ii.These metro stretches were made operational from 9th October 2023, aimed at enhancing public commuting convenience on this corridor in Bengaluru (Karnataka). Plan of RRTS: i.A total of 8 RRTS corridors are slated for development in the National Capital Region (NCR). ii.Phase-I prioritises 3 key corridors: Delhi – Ghaziabad (UP) – Meerut (UP), Delhi – Gurugram (Haryana) – Shahjahanpur-Neemrana-Behror (SNB) (Rajasthan) – Alwar (Rajasthan), and Delhi – Panipat (Haryana). Key Points: i.The Namo Bharat train and the screen doors installed on the platforms are Made in India. ii.The noise levels in the Namo Bharat Train are less than that of helicopters and airplanes. Regional Rapid Transit System (RRTS) Project: i.The RRTS project aligns with the Government of India’s vision to transform regional connectivity through state-of-the-art transport infrastructure. ii.RRTS constitutes a new rail-based, semi-high-speed, high-frequency commuter transit system.
With a design speed of 180 kilometers per hour (Kmph), RRTS is set to redefine the standards of transportation efficiency.
iii.It represents a transformative regional development initiative, promising improved connectivity and convenience for commuters. Benefits of RRTS: RRTS in India is developed to be a state-of-the-art regional mobility solution, on par with international standards, because:
It ensures safe, reliable, and modern intercity commuting.
PM Modi Launched 511 Pramod Mahajan Grameen Kaushalya Vikas Kendras in MaharashtraPrime Minister(PM) Narendra Modi virtually launched the 511 Pramod Mahajan Grameen Kaushalya Vikas Kendras (PMGKVKs) established across 34 rural districts of Maharashtrathrough video conferencing.
These PMGKVKs will conduct skill development training programs across various sectors to provide employment opportunities to rural youth.
Key People: Eknath Shinde, Chief Minister (CM) of Maharashtra and Deputy Chief Ministers (Dy CMs) of Maharashtra, Devendra Fadnavis and Ajit Pawar were present during the event. About PMGKVK: i.Each Kendra will train about 100 youngsters in at least two vocational courses. ii.The training will be provided by empanelled industry partners and agencies under the National Skill Development Council (NSDC). iii.The newly launched skill centers will impart skills like construction, modern farming, media and entertainment, and electronics among the young people. iv.The people will also be trained on soft skills such as basic foreign language skills, Artificial Intelligence (AI) tools for language interpretation. Skilled Indians: i.The demand for skilled Indian youth is growing globally, and these Kendras will help to meet that demand. ii.The skilling of youths is aimed at creating 40 lakh jobs in 16 countries across the globe.
Indian Navy conducts Security Exercise ‘Prasthan‘ in AP’s Kakinadai.On October 20, 2023, a Security Exercise Prasthan 2023 was carried out by Commodore Rajneesh Sharma Naval Officer-in-Charge (NOIC), Andhra Pradesh under the aegis of Eastern Naval Command, Indian Navy (IN) in Kakinada, Andhra Pradesh (AP). ii.The exercise was conducted on the Rig ship Platinum Explorer of ONGC (Oil and Natural Gas Corporation) and RG Fixed Oil Platform of Vedanta Ltd. iii.IN is all set to host nine-day mega naval exercise namely ‘Milan’ from February 19 to 27, 2024 in the Arabian Sea It will see the see participation of over 50 countries including United States (US), Japan, Australia, France, Bangladesh, South Korea, Vietnam, Indonesia and Malaysia will participate in this exercise. About Indian Navy (IN): Chief of the Naval Staff (CNS)– Admiral Radhakrishnan Hari Kumar Headquarters– Integrated Defence Headquarters, Ministry of Defence, New Delhi, Delhi
“Ghar-Ghar KCC Abhiyaan”: An Initiative to Ensure Kisan Credit Card Access for Fish Farmers The Department of Fisheries under the Ministry of Fisheries, Animal Husbandry & Dairying (MoFAH&D) conducted a National level meeting on ‘Ghar-Ghar Kisan Credit Card (KCC) Abhiyaan’, which means ‘Door to Door KCC Campaign’ for fisheries on 19th October 2023 in New Delhi, Delhi.
Dr. Abhilaksh Likhi, Secretary(Department of Fisheries) chaired the meeting which was attended by the senior officers from various States and Union Territories, the Reserve Bank of India (RBI), the National Bank for Agriculture and Rural Development (NABARD), Scheduled Commercial Banks, State Level Bankers Committees (SLBCs) and Regional Rural Banks (RRBs).
The ‘Ghar-Ghar KCC Abhiyaan’ initiative aims to ensure KCC Access for Fish Farmers including fishermen and fish vendors to achieve universal financial inclusion and to avail KCC facilities for all eligible fish farmers.
Under the KCC Scheme, 1,59,903 new KKCs were issued for fish farmers with a credit worth of Rs 1746.16 Crore.
Note: KCC scheme was introduced in 1998 to avail loan facilities to the farmers for their cultivation and other needs.
Google Partners with FACE to Take Down Illegal Loan Apps from Play Store in IndiaGoogle has partnered with the Fintech Association for Consumer Empowerment (FACE) to take down illegal digital lending apps on Play Store in India.
This partnership was announced during the 9th annual Google for India (2023) event held on 19th October 2023 in New Delhi, Delhi.
FACE is an industry association and self-regulatory organization for digital lenders.
What will be done under the Partnership? i.Under this partnership, FACE will supply Google with market intelligence to identify and take action against non-compliant predatory personal loan apps in India hat are non-compliant with Play Store’s policies. ii.This collaboration supports Google’s safety initiative, DigiKavach, aimed at protecting people from online financial scams. Note: i.More than 700 questionable apps have been reported by FACE to app retailers, regulators, and government agencies in the past 15 months. ii.In 2022, Google removed around 3500 personal loan apps from playstore due to non complliance with policies and regulations Key Points: i.FACE monitored digital lending in India, reporting 700+ dubious apps in 15 months to app stores and authorities. ii.During the event, Alphabet Inc. announced plans to manufacture Pixel 8 smartphones in India with sales starting in 2024. iii.Google Lens introduced Visual Skin Condition Search, allowing users to find visual matches for skin issues, after uploading photos. iv.Google Pay partnered with ePayLater to provide a credit line for merchants v.It also collaborated with DMI Finance to introduce sachet loans starting at Rs 15,000. vi.Google Pay expanded its merchant loans with ICICI Bank and personal loans with Axis Bank. vii.Google enhanced its security measures with Google Play Protect, offering real-time app scan recommendations for users installing unscanned apps. About Fintech Association for Consumer Empowerment (FACE): CEO– Sugandh Saxena Headquarters– Mumbai, Maharashtra
HDFC ERGO General Insurance launches Optima Secure HDFC ERGO General Insurance launched Optima Secure, a health insurance policy that offers four times the coverage at no extra cost. The policy covers medical expenses incurred within India and comes with an optional global health cover.
Health insurance is a financial arrangement that provides coverage for medical expenses and healthcare services.
About Optima Secure: Eligibility & Policy Option: i.One can buy this policy until 65 years. Policy covers Insured Persons in the age group of 91 days and above. ii.Families and individuals can choose coverage from Rs 5 lakhs to RS 2 crore, with different options available. iii.This policy can be issued upto 3 years. Key Benefits: i.Secure Benefit offers additional coverage amount equivalent to 100%/200% of the Base Sum Insure. ii.Plus Benefit offers additional coverage equivalent to 100% of the Base Sum Insured in 2 years irrespective of a claim. iii.Automatic Restore Benefits restores 100% of Base Sum Insured automatically on partial or complete utilization of Sum Insured. iv.Protect Benefit pays towards the Non-Medical expenses like gloves, food charges and other consumables during hospitalization. v.Global cover provides coverage for hospitalization expenses incurred outside India. Note: This policy provides comprehensive coverage for both pre and post-hospitalization medical expenses. (includes expenses incurred 60 days prior to hospital admission and 180 days following discharge from the hospital). About HDFC ERGO General Insurance Company Limited: MD & CEO– Ritesh Kumar Headquarters– Mumbai, Maharashtra
DFC Offers USD 30 Million to Dalmia Polypro Industries to Set up Greenfield Recycling Facility in Nashik The United States(U.S.) International Development Finance Corporation (DFC) has offered an External Commercial Borrowing (ECB) loan of USD 30 million to the Dalmia PolyproIndustries Private Ltd to fund the establishment of greenfield recycling facility in Nashik, Maharashtra.
The new plant is well-positioned to meet the growing demand for premium recycled plastic, including food-grade materials, so contributing to the realisation of a circular plastic waste value chain.
The facility also set to process 171,000 metric tons of plastic annually the facility will focus on producing top-notch recycled Polyethylene Terephthalate(rPET), Recycled polypropylene (rPP), and recycled High-Density Poly Ethylene (HDPE) flakes and granules.
Dalmia Polypro is one of the major plastic recyclers in India and it was established in 2006.
Note: DFC, headquartered in Washington DC, the United States of America(USA), is an development bank under the US Government.
HDFC Bank Launches ‘XpressWay’ Digital Banking Platform for Banking Products and Services HDFC Bank has developed ‘XpressWay,’ a digital banking platform that offers a range of financial products and services, providing customers with a fast and convenient banking experience.
XpressWay provides a variety of services such as Xpress Personal Loans, Xpress Business Loans, Xpress Car Loans, Xpress Home Loans, Xpress Loan on Cards, Xpress Credit Card, and Xpress Savings Accounts.
These services are intended to provide a rapid seamless, paperless, and self-service experience to its new and existing customers.
XpressWay is a part of HDFC Bank’s ‘NOW,‘ a brand that covers the bank’s digital products and services.
Gujarat’s Dhordo featured among UNWTO’s Best Tourism Villages 2023; MP’s Madla selected for Upgrade ProgrammeOn October 19, 2023, the Dhordo village in Kutch district of Gujarat, India named in the 3rd edition of Best Tourism Villages 2023 list released by the United Nations World Tourism Organization (UNWTO). While, Madla village from Madhya Pradesh’s Panna district has been picked for the UNWTO’s Best Tourism Villages Upgrade Programme
The announcement was made during the UNWTO General Assembly in Samarkand, Uzbekistan.
Participation: 54 villages from all regions were named in this list from almost 260 applications. 20 villages have joined the Upgrade Programme, and now, 74 villages are now part of the UNWTO Best Tourism Villages Network. About Dhordo Village: It is well-known for hosting the annual Rann Utsav, a vibrant cultural festival showcasing the region’s traditional art, music, and crafts spanning 500,000 sq. mt. This festival was conceptualized by Prime Minister of India Narendra Modi, offers a visit to the Great Rann of Kutch, the white desert area on the India-Pakistan border. About Best Tourism Villages Awards by UNWTO: Launched in 2021, the Best Tourism Villages by UNWTO is part of the UNWTO Tourism for Rural Development Programme which fosters development and inclusion in rural areas, combat depopulation, advance innovation and value chain integration through tourism and sustainable practices.
The award recognizes outstanding rural tourism destinations with accredited cultural and natural assets.
The “Best Tourism Villages Network” acts as a platform for sharing experiences.
Army Commanders’ Conference 2023: Udhampur Military Station Bags ‘Best Green Military Station’ AwardUdhampur Military Station in the Indian Union Territory (UT) of Jammu and Kashmir (J&K) bagged the ‘Best Green Military Station‘ award. The award recognises the station’s environmental efforts and highlights the commitment of the Indian Army to strive for excellence.
The award was presented by the Chief of Army Staff (COAS), General Manoj Pande, during the 2nd edition of Army Commanders’ Conference (ACC 2023) held from 16th to 20th October 2023 in New Delhi, Delhi.
Note: ACC is an institutional platform for deliberations at the conceptual level, facilitating important policy decisions for the Indian Army. Other Awards: i.During the award ceremony, the Dehradun Military Station (Uttarakhand) was acknowledge for securing the title of the “Second Best.” ii.The Bikaner Military Station (Rajasthan) was honoured with the “Best Transformative Station” trophy. iii.The 671 Army Aviation Squadron Reconnaissance and Observation (R&O) was honoured with the COAS Flight Safety Trophy’ for the year 2022-23.
The award recognised their determined commitment to maintaining the highest standards of flight safety and proficiency.
This award highlights the supreme importance of safety and proficiency within the Army Aviation Corps (AAC), the youngest Corps of the Indian Army.
Note: The award cermony offers a significant platform to validate and acknowledge extraordinary efforts within the Indian Army Army Commanders’ Conference 2023: Army Commanders’ Conference 2023 served as a platform for high-ranking military officials to engage in strategic discussions that lead to significant policy decisions for the Indian Army.
The conference was held in hybrid format. The first day featured virutal meetings among army commanders and the following days featured in-person discussions.
Key People: i.Union Minister Rajnath Singh, Ministry of Defence(MoD) participated in the conference on October 18, 2023. ii.Chief of Defence Staff General Anil Chauhan, Chief of the Army Staff General Manoj Pande, and Chief of the Air Staff Air Chief Marshal VR Chaudhari also addressed the event.
Nobel Laureate NargesMohammadi Conferred with Mother Teresa Memorial Award for Social Justice 2023NargesMohammadi, Iranian women’s rights campaigner and the 2023 Nobel Peace Prize Laureate, will be conferred with the Harmony Foundation’s Mother Teresa Memorial Awardfor Social Justice 2023.
The announcement was by Abraham Mathai, the founder-chairman of Harmony Foundation, a Mumbai(Maharashtra)-based Non-governmental Organisation NGO.
This award recognise Narges’s unwavering courage in risking her life as a fearless defender and advocate of human rights against the fundamentalist regime of Iran, truly embodying humanity in action.
The 19th Mother Teresa Memorial Award for Social Justice Award (2023) Ceremony is scheduled for November 26, 2023, in Mumbai, Maharashtra.
Note: Narges Mohammadi is currently serving a 10-year, 9-month jail sentence in Evin Prison in Tehran (Iran) on various charges, including actions against national security and propaganda against the state. About NargesMohammadi: i.She from Iran is a woman Human Rights Defender (HRD), and Deputy Director and spokesperson of the Defenders of Human Rights Centre (DHRC) in Iran. ii.She began her activism in the 1990s as a young physics student and was first arrested in 2011 for her work with imprisoned activists and their families. iii.She has fought against the oppression of women in Iran for 30 years and opposes the death penalty in a country that reports most state executions. iv.She has been imprisoned 13 times and convicted 5 times. In total, she has been sentenced to 31 years in prison and 154 lashes by the Iranian regime. v.She has also authored a book titled “White Torture: Interviews with Iranian Women Prisoners” in 2022. Awards: i.In 2023, she was awarded the Nobel Peace Prize, for her fight against the oppression of women in Iran and her fight to promote human rights and freedom for all.
She became the 19th woman to win the Nobel Peace Prize and the 2nd Iranian woman after human rights activist Shirin Ebadi, who won in 2003.
ii.In 2023, she was also awarded the Olof Palme Prize, the PEN/Barbey Freedom to Write Award, and the UNESCO/Guillermo Cano World Press Freedom Prize. About Mother Teresa Memorial Awards for Social Justice: i.It was instituted in 2005 and is a platform to acknowledge and recognize the extraordinary work of individuals or organizations who aim to promote peace, harmony, and social justice. ii.It is presented to celebrate and commemorate the memory and legacy of Mother Teresa. iii.This is the only award endorsed by Sister Mary Prema Pierick, who served as the Superior General of the Missionaries of Charity (MC), Kolkata (West Bengal) from 2009 to 2022. MC was was started by Mother Teresa in 1950.
Kotak Mahindra Bank Gets RBI Nod for Acquisition of Sonata Finance Kotak Mahindra Bank (KMB) got approval from the Reserve Bank of India (RBI) to acquire 100% of the issued and paid up capital in Lucknow (Uttar Pradesh) based Sonata Finance Private Limited (SFPL) for Rs 537 crore.
Sonata Finance will act as a wholly-owned business correspondent (BC) subsidiary of KMB after the completion of the transaction.
Sonata Finance, established in 2006, is a Microfinance company registered as Non-Banking Finance Company(NBFC)-Microfinance institutions(MFI) (Non-Deposit taking).
Sonata Finance has a network of 502 branches across India.
Note: KMB entered the MFI business in 2016 with the acquisition of Karnataka-focused BSS Microfinance for Rs 139.2 crore.
Yard 12706 (Imphal): Third Stealth Destroyer of Project 15B delivered to the Indian NavyYard 12706 (Imphal), the third Stealth Destroyer of Project 15B Class Guided Missile Destroyer build at the Mazagon Dock Shipbuilders Limited (MDL) was delivered to the Indian Navy(IN).
The ship was designed by the Indian Navy’s Warship Design Bureau (WDB).
About Yard 12706 (Imphal): i.The time taken for Imphal’s construction and testing is the shortest for any indigenous destroyer. ii.Imphal, constructed using Indigenous Steel DMR 249A, is one of the largest Destroyers constructed in India, with an overall length of 164 meters and displacement of over 7500 Tons. iii. Imphal has approximately 75% indigenous content. iv.Imphal is the first ship to be fitted with upgraded Brahmos missiles having dual role capability of Long Range and Land Attack. About Indian Navy: Chief of Naval Staff (CNS)– Admiral Radhakrishnan Hari Kumar Headquarters– New Delhi, Delhi Founded– January 26, 1950
MeitY Launches Indigenous Portable DC Chargerto Boost Electric Vehicle AdoptionOn October 20, 2023, S Krishnan, Secretary of the Ministry of Electronics & Information Technology (MeitY), launched the indigenous(Made in India) technology of “2KW DC Portable Charger” designed to meet the new safety standard IEC 60950-11.
It envisages boosting electric vehicle (EV) adoption in India by encouraging the development of indigenous technology.
This development will also aid in MeitY’s objective to accelerate EV adoption and reduce dependence on imported chargers.
Developers: It was developed by the Centre of Excellence (CoE) at Indian Institute Of Technology(IIT) Madras Research Park in Chennai, Tamil Nadu (TN) in collaboration with FlowtrikTechnologies.
It is funded by MeitY.
IEC 60950: i.IEC 60950 is a safety standard for information technology equipment (ITE) that is published by the International Electrotechnical Commission (IEC). ii.It specifies safety requirements including electrical, mechanical, and thermal aspects, as well as protection against fire, radiation, and chemicals. Features of Portable DC Charger: i.Optional provisions for communicating with batteries for adaptive charging ii.Hooks for Internet of Things (IoT) connectivity, enabling real-time tracking of charging-related parameters iii.Providing over 95% efficiency and the ability to function in temperatures up to 50 degree Celsius.
Police Commemoration Day 2023- October 21Police Commemoration Day (Police Martyrs Day) is annually observed across India on 21 October to reflect, pay homage to, and appreciate the incredible dedication of Indian police martyrs.
The day commemorates the sacrifices of 10 brave Central Reserve Police Force (CRPF) policemen, who sacrificed their lives while defending our borders with China in 1959 at Hot Springs in Aksai Chin, Ladakh.
Background: In January 1960, a resolution was passed at the Annual Conference of Inspectors General of Police of States and Union Territories, recognising October 21st of every as the Police Commemoration Day.
21st October of every year since 1960 is being observed as Police Commemoration Day”. The day is also observed as Police Martyr’s Day.
About Central Reserve Police Force (CRPF): Director-General– Dr Sujoy Lal Thaosen, Indian Police Service (IPS) Establishment– 27 July 1939 Headquarters– New Delhi, Delhi
Global Iodine Deficiency Disorders Prevention Day 2023 – October 21Global Iodine Deficiency Disorders(IDD) Prevention Day or World Iodine Deficiency Day is annually observed across the globe on 21st October to create awareness about the importance of Iodine, an essential micro-nutrient. i.Iodine is a mineral that is found mainly in animal protein and sea vegetables and, to a lesser extent, in fortified foods like bread, cereals, and milk. ii.Iodine is required to make the thyroid hormones thyroxine and triiodothyronine, which assist with the creation of proteins and enzyme activity, and regulate normal metabolism. Note:The Recommended Daily Intake (RDI) of iodine is 150 micrograms (mcg)per day for most adults.
Kasaragod Becomes 1stDistrict in India to Declare Official Tree, Flower, Bird, SpeciesThe Kasaragod district of Kerala became the first district in India to officially designate its official tree, flower, bird and species showcasing its rich biodiversity and natural heritage.
The Kasaragod district panchayat along with the state Biodiversity Management Committee made the declaration, and seeks its formalization by the Kerala State Biodiversity Board.
The endangered species were declared as district’s species in order to strengthen the conservation activities.
Aim behind this declaration: To safeguard these species, promote their growth, and raise public awareness The Officials: Tree: The district’s official tree is ‘Kanjiram‘ (Strychnos nux-vomica Linn), named after ‘kasara’, meaning wormwood, which is the origin of the district’s name.” It is often referred to as poison nut tree, and is used for medicinal purposes. Flower: The district’s flower, ‘PeriyaPolathali‘ (Malabar river lily), was declared as its official flower. Discovered in 2012, these white and red flowers grow near the red sand hills of Kasargod. The flower is endangered, and conservation efforts have been started by the International Union for Conservation of Nature (IUCN). Bird: ‘VellavayaranKadalParanthu‘ (White-bellied sea eagle, Haliaeetus leucogaster) is declared as the district’s bird. It is seen in a 150 kilometre stretch from Mahe to Manjeshwar.
Cabinet Approvals on 18 Oct 2023The Union Cabinet chaired by Prime Minister Narendra Modi has approved the following proposals on 18 October, 2023 i.Information & Broadcasting Minister Anurag Thakur said the Cabinet Committee on Economic Affairs (CCEA) has approvedproject on Green Energy Corridor (GEC) Phase-II – Inter-State Transmission System (ISTS) for the 13 GW renewable energy project in Ladakh.
Scheduled completion by FY 2029-30.
Estimated total cost: Rs. 20,773.70 crore.
Central Financial Assistance (CFA) covering 40% of the project cost (Rs. 8,309.48 crore).
ii.Approves MSP for Rabi Crops for Marketing Season 2024-25
The highest increase in MSP has been sanctioned for lentils (masur) about 7.1% at Rs. 425 per quintal.
iii.11.07 Lakh Railway Employees to Receive Rs 1968.87 Crores in PLB.
The Union Cabinet has granted a Productivity Linked Bonus (PLB) equivalent to 78 days’ worth of wages for the financial year 2022-2023. The Government has approved a total PLB payout of Rs 1968.87 crore to benefit 11,07,346 railway employees.
iv.Release of an additional instalment of DA and DR due from 01.07.2023.
The Union Cabinet has given its approval to release an additional installment of Dearness Allowance (DA) for Central Government employees and Dearness Relief (DR) for pensioners, w.e.f. July 1, 2023.
IBM & MeitY Signed 3 MoUs to Advance AI, Semiconductor & Quantum Innovation in IndiaIBM(International Business Machines Corporation) signed 3 Memoranda of Understanding (MoUs) with 3 entities under the Ministry of Electronics and Information Technology (MeitY) to advance and accelerate innovation in Artificial intelligence (AI), Semiconductor, and quantum technology in India.
The 3 MoUs were signed with IndiaAI – Digital India Corporation, India Semiconductor Mission (ISM), and Centre for Development of Advanced Computing (C-DAC).
Key People: Union Minister of State(Mos) Rajeev Chandrasekhar, MeitY, and Sandip Patel, Managing Director, IBM India & South Asia, were present at the MoU signing ceremony. IBM MoU with IndiaAI – Digital India Corporation: i.IBM and IndiaAI – Digital India Corporation collaborate to establish a world-class national AI Innovation Platform (AIIP) for India. ii.To promote India’s scientific, economic, and human-capital development in AI technology, the platform will focus on AI skilling, ecosystem development, and integrating sophisticated foundation models and generative AI capabilities. iii.AIIP gains access to IBM’s Watsonx platform key features, such as the ability to use models in language, code, and geospatial science, with the intention of training models for more domains as needed. AboutIndiaAI: IndiaAI under the Digital India Corporation(DIC) is a knowledge portal, research organisation and an ecosystem building initiative.
It stands to unite and promote collaborations with various entities in India’s AI ecosystem.
The portal offers the latest and up-to-date information and analysis on AI as news and article
IBM MoU with ISM: i.IBM is set to become India Semiconductor Mission’s (ISM) knowledge partner for a semiconductor research center. ii.IBM will share its experience with ISM on intellectual property, tools, initiatives, and skills development for promoting innovation in semiconductor technologies such as logic, advanced packaging and heterogeneous integration, and advanced chip design technologies. About ISM: ISM was established in 2021 under the Digital India Corporation aims to build a vibrant semiconductor and display ecosystem to enable India’s emergence as a global hub for electronics manufacturing and design. IBM MoU with C-DAC: Through this MoU, IBM and the Centre for Development of Advanced Computing (C-DAC) are set to work together to advance India’s National Quantum Mission in the following ways.
Building expertise in computing technology
Developing applications in areas of national interest
Creating a skilled quantum workforce
Supporting the development of industries, startups, and Research and development (R&D)
About C-DAC: C-DAC is the premier R&D organization of the MeitY for carrying out R&D in Information technology (IT), Electronics, and associated areas. About IBM: IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. It is known for its hardware and software products, including computers, servers, storage systems, and networking equipment. Chairman and Chief Executive Officer(CEO) – Arvind Krishna Headquarters – Armonk, New York, United States of America(USA) Established – 1911
APIPL Partners NPCI to launch EMIs on RuPay Credit CardsAmazon Pay IndiaPrivate Limited (APIPL) in partnership with National Payments Corporation of India (NPCI) has introduced the option of Equated Monthly Instalment(EMI) on RuPay credit cards in Amazon Pay.
The service will be available across eight prominent issuing banks.
Background: i.Great Indian Festival was announced on Amazon.in from 08th October 2023 to 15th October 2023.
The Great Indian Festival is an annual shopping event that offers products at high discounts across different categories in Amazon.in
The theme of 2023 Great Indian Festival is ‘Dibbe khulenge, khulegi khushiyaan’ which means ‘unboxing happiness’.
ii.During the first two days of the offer time, it was observed that
EMI was the most popular payment method
One in four orders being placed on installments(EMI)
Three in four EMI orders being no-cost EMIs.
Tapping the Potential: i.The launch of EMI facility on RuPay credit cards will grant customers enhanced access to credit. ii.This will drive affordability and convenience of online shopping for customers across India, particularly during the festive season.
About Amazon Pay EMI: i.EMI payments in Amazon.in is facilitated by Amazon Seller Services Private Limited (ASSPL). ii.No Cost EMI facility is funded by participating sellers and brands. What is No Cost EMI? i.No Cost EMI payment option enables customers who make purchases on Amazon.in by paying into equal installments over the course of the EMI tenure. ii.There are no additional charges, such as interest, processing fees, or hidden costs. Additional Info: Introduced in 2019, Amazon Pay offers a bunch of payment options like Amazon Pay Later, Amazon Pay Wallet, Amazon Unified Payments Interface (UPI) etc,. About Amazon Pay India Private Limited (APIPL): Director – Vikas Bansal Headquarters – Bengaluru, Karnataka Established in –2017
RBI Starts Wholesale Digital Rupee Pilot in Call Money MarketOn October 17, 2023, the Reserve Bank of India (RBI) initiated a pilot program for the wholesale segment namely ‘Digital Rupee-Wholesale (e-W)’ of its Central Bank Digital Currency (CBDC) in the interbank call money market. Click Here to read about CBDC
9 banks, including 4Public Sector Banks(PSBs) and 5 Private Sector Banks, are part of the e-rupee call money pilot.
This is the second test of wholesale CBDC, after the government securities market in November 2022.
Key Points: i.Under the pilot, the entire wholesale segment, including asset tokenization and repo transactions will be covered. ii.Initially, eRs (Digital Rupee) will move from bonds to call money to repo, with plans for a final pilot covering the entire wholesale segment. iii.Operational processes for the e-rupee pilot remain the same, except settlements will use CBDC instead of real-time gross settlement used in trades on the Clearing Corp of India Limited (CCIL). . iv.Settlements will occur on the same day (T+0 mode) under the pilot. About Call Money Market: In the call money market, large financial institutions, such as banks, mutual funds, and corporations engage in short-term borrowing and lending activities among themselves, with interbank rates determined by prevailing market conditions.
IRDAI Mandates Insurance Cover For Employees In Employer’s VehicleThe Insurance Regulatory and Development Authority of India (IRDAI) has mandated all general insurers with motor insurance business to provide an inbuilt feature in the Third Party policy (TP) to cover to employees travelling in an employer’s vehicle (including paid driver, if applicable) under IMT. 29 of the Indian Motor Tariff 2002.
The compulsory cover of IMT-29 should be provided as an in-built coverage under the Compulsory Motor Third Party(TP) Liability Section of Private Car Package/ Bundled Policies and under standalone policies insuring Compulsory Motor Third Party Liability.
IRDAI also stated that no additional premium will be charged until further directions.
Click here to know more Background: i.Madras High Court(Chennai, Tamil Nadu) has directed IRDAI to make IMT-29 compulsory as an inbuilt coverage for employees while issuing a Private Car policy for employer’s vehicles. ii.In accordance to the High Court order, IRDAI has issued the above directions in exercise of the powers conferred by Section 14(2) of Insurance Act 1938. About Section 29 of India Motor Tariff (IMT) 2002: i.The insurer will pay for any damages that the insured is legally liable for under the Fatal Accidents Act, 1855, if an employee (other than a paid driver) is killed or injured while using the insured vehicle(Upon payment of premium Rs.25/employee). ii.The compulsory cover of IMT-29 shall be provided as an inbuilt coverage under the Compulsory Motor Third Party Liability Section of Private Car Package/ Bundled Policies and under standalone policies insuring Compulsory Motor Third Party Liability. Clause 7 of Section 2 of IMT: i.The employees travelling in or driving the employer’s motor vehicle will be covered under the insurance with the payment of premium of Rs.50/employee.
The tenure of the premium is extended till 12months on payment of additional amount (Rs.50/employee).
ii.The maximum number of employees covered under the insurance equals the maximum licensed seating capacity of the vehicle.
Mahsa Amini & The Women of Iran Won the 2023 Sakharov Prize of European ParliamentOn October 19, 2023, Roberta Metsola, President of European Parliament named Jina Mahsa Amini and Iranian women protest movement as the winners of Sakharov Prize for Freedom of Thought 2023 (Sakharov Prize), the European Union’s (EU) top human rights prize.
The prize will be given at a ceremony in European Parliament’s hemicycle in Strasbourg, France on December 13, 2023.
Note:
Mahsa Amini and the women of Iran were nominated by the European People’s Party.
The Socialists and Democrats and Renew Europe also nominated Mahsa Amini and the Woman, Life, Freedom Movement as representatives of the fight for women’s rights in Iran.
About Jina Amini & The Women of Iran: i.Jina Mahsa Amini, the 22-year-old Kurdish Iranian woman, was arrested for allegedly violating Iran’s mandatory hijab (headscarf ) law in September 2022. She died 3 days after arrest. ii.Her death under suspicious circumstances led to the massive women led protests in Iran. iii.The women are protesting under the slogan ‘Woman, Life, Freedom’ i.e. Iranian Women Protest Movement against the hijab law and other discriminatory laws. About Sakharov Prize for Freedom of Thought: i.It was established in 1988 by the European Parliament, honors individuals and groups defending human rights. ii.The award is named after Soviet physicist and political dissident and Nobel Peace Prize laureate Andrei Sakharov. iii.The award carries a cash prize of 50,000 Euro.
In 2022, it was presented to the People of Ukraine represented by their President (Volodymyr Zelenskyy), elected leaders and civil society.
The first prize in 1988 was awarded jointly to South African Nelson Mandela and Russian Anatoly Marchenko.
Other Nominees for the 2023 Sakharov Prize:
Afghan education activists Marzia Amiri, Parasto Hakim and Matiullah Wesa
Pro-European people of Georgia and Nino Lomjaria, former public defender of Georgia for efforts to defend their rights and safeguard democracy.
Elon Musk for exposing practices by Twitter’s (now X) previous management that were detrimental to users’ freedom of expression
Vanessa Nakate, a young Ugandan committed to fighting against climate change and for human rights
Vilma Núñez de Escorcia and Monsignor Rolando José Álvarez Lagos from Nicaragua.
Women fighting for free, safe and legal abortion: Justyna Wydrzyńska, Morena Herrera, and Colleen McNicholas
Cirium’s Monthly Report: Bengaluru’s KIA tops as World’s Most Punctual Airport According to ‘The On-Time Performance Monthly Reports – Airports for September 2023’ published by aviation analytics firm Cirium, Kempegowda International Airport (KIA) in Bengaluru (Karnataka) has secured the top position as the world’s most punctual Airport for the past 3 consecutive months(July, August, and September 2023).
KIA maintained an on-time departure experience for passengers, with 87.51% punctuality in July, 89.66% in August, and 88.51% in September.
As per the report, on-time departure ranking measures the percentage of flights that departed within 15 minutes of the scheduled time.
Cirium conducts an extensive evaluation of flight data for global airports. Airports are classified based on seat capacity, gate departure coverage of 80% or more, and flight volume.
The classifications include Global Airport (25 – 40 million passengers), Large Airport (25 – 40 million passengers), Medium Airport (15 – 25 million passengers), and Small Airport (5 – 15 million passengers).
President Appoints Raghubar Das as Governor of Odisha & Indra Sena Reddy Nallu as Governor of TripuraDroupadi Murmu, President of India, has appointed former Chief Minister(CM) of Jharkhand, Raghubar Das(68 years old), as the 26th Governor of Odisha and Telangana Bharatiya Janata Party (BJP) leader Indra Sena Reddy Nallu(73) as 20th Governor of Tripura with effect from the date they assume charge.
Raghubar Das will succeed Ganeshi Lal who has been serving as the Governor of Odisha since 2018.
Indra Sena Reddy Nallu will succeed Satyadeo Narain Arya who has been serving as the Governor of Tripura since 2021.
Note: Raghubar Das is currently serving as the national vice-president of the BJP. About Odisha: Chief Minister – Naveen Patnaik Dance forms – Ghumura Dance, Ranapa Dance River – Vansadhara, Indervati
Padma Shri Awardee and Spiritual Leader BangaruAdigalar Passed AwayPadma Shri AwardeeArul ThiruBangaruAdigalar, a Spiritual Leader and the founder of MelmaruvathurAdhiparasakthiSiddharPeedam in Kancheepuram district (Tamil Nadu (TN)) passed away at the age of 82 in Melmaruvathur, TN. He was born on 3 March 1941 in Melmaruvathur village. Awards: He was conferred with Padma Shri in 2019 for his spiritual services to the society. About BangaruAdigalar: i.G. Subramaniam, known as Bangaru Adigal, lovingly known as ‘Amma’ (mother) by his followers in Adhiparasakthi Siddhar Peedam (referred to as Red-Clad Movement), is renowned for leading significant reforms in spiritual practices. ii.He was by profession a school teacher in Arapeduvillage near Achirupakkam in TN. He gained recognition as the admired oracle of the Parasakthi temple. iii.The year 1971 marked the establishment of his spiritual leadership from a modest, thatched cottage in Melmaruvathur. iv.Initially, Swayambu (the self-generated) stood as the sole object of worship for many years. On 25 November 1977, the idol of Mother Adhiparasakthi was installed in the Sanctum Sanctorum. v.The Adhiparasakthi spiritual movement founded by Adigalar is known by the Melmaruvathur temple near Chennai (TN) and its local worship groups across TN. vi.His contributions have brought about noteworthy changes, including the admission of women into the inner sanctum of Arulmigu Aadhiparasakthi Temple in Melmaruvathur for regular worship.
The Melmaruvathur temple is the only temple where a woman can offer worship even during her menstrual flow.
vii.He established Melmaruvathur Adhiparasakthi Siddhar Vaara Vazhipaatu Mandram and almost every village in TN has its branches. viii.His fame led him to establish engineering and medical colleges. He owned several educational institutions around the Melmaruvathur area.
The foundation stone for AdhiParasakthi Polytechnic was laid by the then Chief Minister of TN, M.G. Ramachandran.
He also helped poor students with education through the Adhiparashakti Charitable Medical Education and Cultural Trust.
National Solidarity Day 2023- October 20National Solidarity Day is annually observed across India on 20 October to honour, respect, and promote the bravery and strength of the Indian armed forces.
The day is dedicated to mark the national integrity displayed by India during the 1962 conflict with China(Indo-China War)
The day is also plays tribute to all the brave souls who lost their lives during the Sino-Indian War which started on 20th October 1962 and ended on 21 November 1962.
20 October 2023 marks the 61st anniversary of the India-China war. Background: i.In 1966, a committee was set up under the leadership of then Prime Minister Indira Gandhi to honour the martyrs of the Indo-China War and to promote a sense of patriotism and solidarity among the citizens. ii.The committee decided to designate October 20 as National Solidarity Day.
World Osteoporosis Day 2023 – October 20World Osteoporosis Day (WOD) is a global awareness campaign annually observed across the globe on 20 October to highlight the importance of Osteoporosis and to raise global awareness of the prevention, diagnosis, and treatment of Osteoporosis and related musculoskeletal diseases.
This day serves as a platform to encourage people to take action to maintain strong and healthy bones throughout their lives.
The themeof 2023 WOD Campaign is ‘Build Better Bones’. Background: i.WOD was initially launched by the National Osteoporosis Society of the United Kingdom (UK) and was supported by the European Commission. ii.In 1998, the European Foundation for Osteoporosis (EFFO) and the International Federation of Societies on Skeletal Diseases (IFSSD) merged.
This merger led to the formation of the International Osteoporosis Foundation (IOF).
iii.The first-ever WOD was observed on 20 October 1996. About International Osteoporosis Foundation (IOF): IOF is the world’s largest nongovernmental organization dedicated to the prevention, diagnosis, and treatment of osteoporosis and related musculoskeletal diseases. President– Professor Cyrus Cooper (UK) CEO– Philippe Halbout (Switzerland) Headquarters– Nyon, Switzerland Formed in– 1998
International Chefs Day 2023 – October 20International Chefs Day is annually observed across the globe on October 20 to celebrate the Culinary arts and to educate the people about the significance of culinary professionals (Chefs).
20th October 2023 marks the 20th International Chefs Day.
i.The campaign of International Chefs Day 2023 is Growing Great Chefs. ii.The day was founded in 2004 by Bill Gallagher, the then-president of the WorldChefs. iii.The first International Chefs Day was observed on 20th October 2004. About World Association of Chefs’ Societies (Worldchefs): President- Thomas A. Gugler Headquarters- Paris, France Establishment- 1928
Arunachal Pradesh Cabinet Approves Various Initiatives Including Establishment of STPF for Tiger ReservesThe Arunachal Pradesh (AP) State Cabinet approved the constitution of the Special Tiger Protection Force (STPF) in AP as per the guidelines of the National Tiger Conservation Authority (NTCA) for 3 Tiger Reserves of AP namely, Namdapha, Pakke, and Kamlang. This decision will result in the creation of 336 regular posts in AP.
The Cabinet also approved the Amendment of AP State Industrial and Investment Policy 2020 and the framing of AP Home Guard Rules 2023 along with others.
About Arunachal Pradesh: Chief Minister– Pema Khandu Governor– Kaiwalya Trivikram Parnaik Airports– Tezu Airport and Itanagar Airport
MeitY Inaugurated UP’s 1st RPA Labunder FutureSkill PRIME Projectin NIELIT Gorakhpur On 16th October 2023, S Krishnan, Secretary of the Ministry of Electronics and Information Technology (MeitY), inaugurated the Robotic Process Automation (RPA) Lab in National Institute of Electronics and Information Technology (NIELIT), Gorakhpur in Uttar Pradesh (UP).
This is the First-of-its-kind lab in UPwas built under the Future Skill PRIME Project funded by MeitY to bridge the gap between Industry and Academia.
The lab was inauguated during the 26th All India Director’s Meet of NIELIT. The meet witnessed the participation of Directors from 49 NIELIT Centres across the India.
Objective: To upskill/reskill manpower in emerging technology of RPA. MoU & EoI signed during the event:
Prof Poonam Tandon, Vice-Chancellor , Deen Dayal Upadhyay Gorakhpur University and Dr M M Tripathi, Director General, NIELIT signed a Memorandum of Understanding (MoU) to organise employment-oriented courses and training in future skill technology in Gorakhpur region.
Anuj Malik, CEO of Gorakhpur Industrial Development Authority (GIDA) shared an Expression of Interest (EOI) with Dr D K Mishra, Director, NIELIT Gorakhpur, to set up a Skill Centre of NIELIT in GIDA. With this, GIDA will offer a built-up space and land, free of cost for 5 years and NIELIT wil establish state-of-art facility that will focus on advancement of technical education, skill development, and employment opportunities in the region.
‘Gadkari’: A Marathi Biopic of Union Transport Minister Nitin Gadkari The Marathi film titled ‘Gadkari‘, the biopic of Union Minister Nitin Jairam Gadkari, Ministry of Road Transport and Highways (MoRTH), is set to release in Cinemas on 27 October 2023. The movie is directed by Anurag Rajan Bhusari starring Rahul Chopda as Nitin Gadkari.
Highlights of 9th G20 Parliamentary Speakers’ Summit hosted by Parliament of IndiaThe 9th Group20 (G20) Parliamentary Speakers’ Summit (P20) was held at the India International Convention and Expo Centre(IICC) – Yashobhoomi at Dwarka, New Delhi, Delhi from 13th to 14th October 2023.
This was the first P20 summit hosted by India in cooperation with the Inter-Parliamentary Union (IPU) under the broader framework of India’s G20 Presidency.
The P20 Summit was inaugurated by Narendra Modi, Prime Minister(PM)of India at IICC on 13th October 2023.
On the first day of the 9th P20 Summit (13th October 2023), the Presiding officers unanimously adopted a Joint Statement under the Chairmanship of Lok Sabha Speaker Om Birla. This also exemplifies the spirit of Vasudhaiva Kutumbakam. About Inter-Parliamentary Union (IPU): President – Duarte Pacheco Headquarters – Geneva, Switzerland Established in – 1889 Members – 179 Members and 14 Associate Members
IICA and NICF signed MoU to Synergise Professional Capabilities The Indian Institute of Corporate Affairs (IICA) and National Institute of Communication Finance (NICF) have signed a Memorandum of Understanding (MoU) to promote the exchange of knowledge and resource between these institutions for conducting research, training capacity building and advocacy. About MoU: i.The MoU covers a wide range of topics, including finance, restructuring, turnaround, competition law, corporate law, corporate governance, Insolvency and Bankruptcy law, leadership, organisational effectiveness, telecommunication policies, and spectrum auction. ii.The collaboration also aims to develop the skills and knowledge of Indian Posts and Telecom Accounts and Finance Service (IP&TAFS) officers. About Indian Institute of Corporate Affairs (IICA): i.IICA is an autonomous institution established by the Ministry of Corporate Affairs (MCA). ii.It was registered as a society under the Societies Registration Act, 1860. Director General & Chief Executive Officer (CEO) – Praveen Kumar Headquarters – Gurugram, Haryana Established in – 2008 About National Institute of Communication Finance (NICF): i.NICF is high level training institute which offers training to Indian Posts and Telecom Accounts and Finance Service (IP&TAFS) officers. ii.It works under Department of Telecommunications, Ministry of Communications. Director General(DG)- Awadhesh Kumar Headquarters – New Delhi, Delhi Established in – 2007
WOAH Approves India’s Self-Declaration of Freedom from HPAIThe World Organisation for Animal Health (WOAH) has approved India’s self-declaration of freedom from Highly Pathogenic Avian Influenza (HPAI), commonly known as bird flu, in certain poultry compartments (approved farms) in Maharashtra, Tamil Nadu, Uttar Pradesh, and Chhattisgarh.
This recognition by WOAH signifies India’s dedication to international biosecurity standards.
This recognition is composed to boost India’s poultry industry by enhancing the export potential of poultry products, such as meat and eggs.
The self-declaration approved by WOAH coincided with World Egg Day on 13 October 2023.
About World Organisation for Animal Health (WOAH): Director-General– Dr Monique Éloit Headquarters– Paris, France Members – 183 Members (As of October 2023) Founded in 1924 as the Office International des Epizooties (OIE), in May 2003 adopted the common name World Organisation for Animal Health.
Education Minster Dharmendra Pradhan launched NCERT’s web portal “Apna Chandrayaan’ for studentsUnion Minister Dharmendra Pradhan, the Ministry of Education(MoE), launched a web portal ‘ApnaChandrayaan’ for school students in New Delhi, Delhi. The web portal was developed by the National Council of Educational Research and Training (NCERT).
He also launched 10 special modules offering a comprehensive perspective on the Indian Space Research Organisation’s (ISRO) Chandrayaan-3 mission for students.
The modules encompass scientific, technological, and social aspects as well as the emotional journey and team spirit of the scientists involved in the mission.
Note: NCERT is an autonomous organisation under the aegis of the Department of School Education & Literacy (DoSEL), Ministry of Education(MoE). About Ministry of Education: Union Ministry– Dharmendra Pradhan (Rajya Sabha- Madhya Pradesh) Ministers of State– Annpurna Devi; Dr. Subhas Sarkar; Dr. Rajkumar Ranjan Singh
BIS Approves India’s First-ever Indigenous AC & DC Combined Charging Connector Standard for LEVsThe Bureau of Indian Standards (BIS), the National Standard Body of India, has approved IS17017 (Part 2 / Sec 7): 2023, India’s first-everindigenously developed Alternating Current (AC) and Direct Current (DC) Combined Charging connector standard for Light Electric Vehicles (LEVs).
It is also the world’s 1st charging standard that combines AC and DC charging for small EVs, such as electric scooters, motorcycles, three-wheelers, and quadricycles, and is designed and engineered in India.
The new standard is based on AtherEnergy’s charging connector.
About Bureau of Indian Standards (BIS): Director-General– Pramod Kumar Tiwari President– Piyush Goyal Headquarters– New Delhi, Delhi Founded on 1 April 1987 BIS was established under the BIS Act 2016
Amendment to Aircraft Rules, 1937: Validity of Pilot License increased from 5 to 10 yrsOn 10th October 2023, the Ministry of Civil Aviation (MoCA) notified the amdenment of the Aircraft Rules, 1937, which will be called as “Aircraft (First Amendment) Rules, 2023”. Under this amendmnet, following the revision of Rule 39C, the validity of the Airline Transport Pilot License (ATPL) and Commercial Pilot License(CPL) holders has been increased from 5 years to 10 years.
This aims to reduce administrative burden on pilots and aviation authorities like Directorate General of Civil Aviation (DGCA), promoting a more streamlined and efficient licensing process.
The amendment is in line with the government’s efforts to further improve the ease of doing business in the aviation sector.
About Ministry of Civil Aviation (MoCA): Union Minister– Jyotiraditya M. Scindia (Rajya Sabha Madhya Pradesh) Minister of State– General (Retd.) Vijay Kumar Singh (Constituency- Ghaziabad, Uttar Pradesh)
DOLR & NRSC Signed MoU to Monitor WDC-PMKSY 2.0 The Department of Land Resources (DOLR) and the National Remote Sensing Center (NRSC) have signed an Memorandum of Understanding (MoU) to monitor Watershed Development Component of Pradhan Mantri Krishi Sinchayee Yojana (WDC-PMKSY 2.0) using geo-spatial applications.
The event also winessed the launch of mobile application DRISHTI 2.0 and web-portal SRISHTI 2.0 for WDC-PMKSY 2.0.
About MoU: i.NRSC will provide DOLR with
High-resolution satellite data for all the WDC 2.0 projects (across India)
Customized software tools on Bhuvan for monitoring, online image comparison and visualization of project reports
Customized Bhuvan web page Srishti for WDC-PMKSY 2.0
Customized mobile application Drishti for field data collection and data transfer to Bhuvan
Note:WDC-PMKSY is one of the first schemes to harness the potential of space and remote sensing technology Additional info: DOLR comes under Ministry of Rural Development(MoRD) and NRSC is one of the primary centres of Indian Space Research Organisation (ISRO), Department of Space (DOS)
MENA Climate Week 2023: Saudi Arabia Hosts Climate Event ahead of COP28 in DubaiMiddle East and North Africa (MENA) Climate Week 2023, took place from 8-12 October in Riyadh, Saudi Arabia. It is the 2nd of four Regional Climate Weeks held in 2023. MENA Climate Week is particularly significant as it precedes COP28, the UN Climate Change Conference scheduled to take place in Dubai from late November 2023.
MENA Climate Week was divided into 4 key areas of focus to address climate change
Energy systems and industry
Cities, urban and rural settlements, infrastructure, and transport
Land, ocean, food, and water
Societies, health, livelihoods, and economies.
India, Saudi Arabia sign MoU in the fields of Electrical Interconnections, Green and Clean Hydrogen and Supply Chains India and Saudi Arabia decide to promote investment in New & Renewable Energy PIF, SEC launch new Electric Vehicle Infrastructure Company Saudi Awwal Bank is a ‘national champion’ at MENA Climate Week World’s First Global Solutions Hub (GSH) Launched at MENA Climate Week in Saudi Arabia Saudi Arabia Announces Domestic Greenhouse Gas Credit Initiative
FICCI Economic Outlook Survey Pegged Median GDP growth forecast for FY23-24 at 6.3%According to Economic Outlook Survey released by Federation of Indian Chambers of Commerce & Industry (FICCI), India’s annual median Gross domestic product (GDP) growth rate for the financial year 2023-24 (FY2023-24) is projected at 6.3% with a minimum and maximum growth estimate of 6% and 6.6%, respectively. Sectorswise Prediction: i.The expected growth rate for agriculture and allied activities in FY23-24 is 2.7%, which is lower than the 4.0% growth rate reported in FY22-23.
This is due to the El Niño effect, which has affected the spatial distribution of rainfall during the monsoon season.
ii.The industry and services sectors are expected to grow by 5.6% and 7.3%, respectively, in the FY23-24. Quarterwise Prediction: i.The expected growth rate will reach as high as 7.8% in first quarter(Q1) of the financial FY23-24. ii.The growth rate will decrease to 6.1% and 6% for the second and third quarter (Q2 & Q3)respectively. CPI based inflation forecast: i.The median forecast for Consumer Price Index (CPI)-based inflation in 2023-24 is 5.5%, with a minimum and maximum range of 5.3% and 5.7%, respectively. ii.CPI inflation rate will remain above the Reserve Bank of India(RBI)’s target level of 4±2 for Q3 & Q4 of FY 23-24 iii.Inflation may have peaked, but prices could still go up. Food prices could be volatile due to high cereal prices and the cancellation of the Black Sea grain deal. Oil prices are also high, which could contribute to inflation. Repo Rate: i.RBI is expected to maintain its policy repo rate at 6.5% until the end of the FY23-24. ii.A cut in repo rate can be expected only by the end of Q1 or Q2 FY24-25. Investments: i.The government’s focus on capital expenditure has attracted private investment and boosted economic growth.
However, it will take some time to get a full-fledged momentum in investments.
ii.Any further recovery in private investment is expected to be driven by an increase in consumer spending, both domestically and internationally. Note: Economic Outlook Survey was conducted in the month of September 2023.
MSDE Dharmendra Pradhan Launched IndiaSkills 2023-24 & Felicitates World Skills 2022 WinnersUnion Minister Dharmendra Pradhan, Ministry of Skill Development & Entrepreneurship (MSDE) launched the IndiaSkills 2023-24, India’s most significant National Skill Competition program.
He also felicitated the winners of the 46thWorldSkills Competition (WSC 2022 Special Edition– WSC2022SE), which was held between 7th September and 26th November 2022 across 15 countries.
India secured 11th position in the WSC2022SE, with 2 Silver Medals, 3 Bronze Medals, and 13 Medallions for Excellence. In 2019, India held the 13th position.
About Ministry of Skill Development and Entrepreneurship: Union Minister– Dharmendra Pradhan (Rajya Sabha Madhya Pradesh) Minister of State– Rajeev Chandrasekhar (Rajya Sabha Karnataka)
CCI approves merger of IDFC Ltd with IDFC FIRST Bank Competition Commission of India (CCI) has approved the Scheme of Amalgamation of IDFC Limited(IDFCL) with IDFC FIRST Bank.
The approval was granted under the Green Channel Route, which is a fast-track route for mergers and acquisitions that are unlikely to have any adverse impact on competition..
IDFCL is a development finance institution(DFI) and the parent company of IDFC FIRST Bank.
Provision: The merger was granted according to Section 6(2) of the Competition Act, 2002 read with Regulations 5 and SA of the Competition Commission of India (Procedure in regard to the transactions of business relating to combinations) Regulations, 2011. The amalgamation will be completed within FY23-24. IDFC FIRST Bank Limited was established in 2018 and headquartered in Mumbai, Maharashtra.
Overview of 141st Session of the IOC held in Mumbai; 5 Additional Sports added in 2028 Summer OlympicsThe 141st Session of the International Olympic Committee (IOC) was hosted by India from October 15-17, 2023, in Mumbai, Maharashtra. The IOC’s Executive Board met during the session. The session facilitated interaction and the exchange of knowledge among diverse stakeholders in the sports arena.
The 141st session of IOC was inaugurated by the Prime Minister (PM) of India Narendra Modi.
This is the 2nd IOC Session hosted by India after 40 years. India hosted the 86th IOC session in New Delhi, Delhi in 1983.
i.IOC has suspended the Russian Olympic Committee (ROC) for violating the Olympic charter with “immediate effect and until further notice” after it incorporated sports bodies from 4 territories annexed from Ukraine as its members. ii.The 141st session of IOC approved the proposal of Los Angeles 2028 Organising Committee of Olympics and Paralympic Games for the inclusion of 5 additional sports including Cricket (T20-Twenty20), Softball/Baseball, flag football, lacrosse (sixes) and squash. About International Olympic Committee (IOC): President– Thomas Bach Headquarters– Lausanne, Switzerland Establishment– 1894
BlueKraft Digital Foundation launches book on PM Modi’s radio show ‘Mann kiBaat‘ BlueKraft Digital Foundation has launched a book on Prime Minister (PM) Narendra Modi’s monthly radio programme Mann kiBaat. The book has been titled ‘Igniting Collective Goodness: Mann Ki Baat @ 100’. About the book: i.The book captures the journey of Prime Minister Modi’s 100 episodes of Mann Ki Baat and its impact on Indian society. ii.The book is published by Westland Publications Limited. iii.This is the third book of Westland Publications in the series, which captures the journey of Mann ki Baat.
The other two books are ‘Mann Ki Baat – A Social Revolution On Radio’ and ‘Mann Ki Baat – 50 Episodes Special Edition: A Social Revolution on Radio’ published in 2017 and 2019 respectively.
About Mann Ki Baat: i.Mann Ki Baat is broadcast on All India Radio(AIR) and Doordarshan(DD) on the last Sunday of every month. ii.The programme was launched on 3rd October 2014 and reached its 100th episode on 30th April 2023.
39th Raising Day of NSG – 16th October 2023National Security Guard (NSG) annually celebrate its Raising Day on 16th October to mark the establishment of NSG (also known as Black Cats) on 16th October 1984.
16th October 2023 marks the observance of 39th Raising Day of NSG.
About NSG: i.In 1984, The Union Cabinet planned to create a Federal Contingency Force to act against. This paved a way for the formation of NSG.
The National Security Guard was formally established through ‘National Security Guard Act, 1986’.
ii.It is a Federal Contingency Deployment Force for combating terrorist activities in any part of India. iii.It operates under the Ministry of Home Affairs(MHA) with themotto ‘Sarvatra, Sarvottam, Suraksha’. iv.They work with the basic philosophy of swift and speedy strike and immediate withdrawal from the theatre of action. v.The NSG was modelled on the pattern of the Special Air Service (SAS) of the United Kingdom(UK) and Grenzschutzgruppe 9(GSG-9) of Germany. vi.It has two complementary elements in the form of
Special Action Group (SAG) – comprising Army personnel
Special Ranger Groups (SRG) – comprising personnel from the Central Armed Police Forces/State Police Forces.
Notable Operations of NSG i.Operation Black Thunder, Golden Temple Amritsar (Punjab) in April 1986 ii.Operation Cloud Burst was carried out by NSG in 1990 in Punjab iii.Operation Vajra Shakti, Gandhinagar (Gujarat) in 2002 iv.OperationChakravyuh, Chhattisgarh in 2006. v.Operation Black Tornado in Mumbai on November 26, 2008. vi.OperationDhangu Suraksha, Pathankot in Punjab on January 2, 2016. About National Security Guard (NSG) Headquarters-New Delhi, Delhi Established in – 1986 Director General- M A Ganapathy
Kati Bihu Celebrated Across Assam – 18th October 2023Kati Bihu, also known as Kongali bihu, is the annual Assamese festival celebrated on the first day of the Kati Month in the Assamese calendar, usually coincides with the mid-October.
Kati Bihu is celebrated during the time of relocation of the rice sapling which is observed with great enthusiasm and fervor.
The 2023 Kati Bihu was celebrated on 18th October 2023.
The 2022 Kati Bihu was celebrated on 18th Octobet 2022 and the 2024 Kati Bihu will be celebrated on 17th October 2024.
Significance of Kati Bihu: i.The name Kati Bihu comes from the Assamese word “kati”, which means “to cut.” ii.The word Kongali also means ‘poor’ which signifies the lack of food during the period and conveys a sense of simplicity. iii.To celebrate the Kati Bihu, the people of Assam will light up the lamps outside their homes as well as in paddy fields in the evening praying for a better crop in the next season. Assam’s Bihu: Bihu is a set of 3 important cultural festivals of Assam.
‘Magh Bihu’ is celebrated to mark the of harvesting season. Annually celebrated in the month of Magh (usually falls in the month of January)
‘Bohag Bihu’ is celebrated as the sowing festiva. Annually celebrated in the month of Bohag(usually falls in the month of April).
‘Kati Bihu’ is celebrated in the month of ‘Kati’ (falls in the month of October).
About Assam: Chief Minister – Himanta Biswa Sarma Governor- Gulab Chand Kataria Festival – Baishagu, Ambubachi Mela Stadium – Nehru Stadium, Indira Gandhi Athletic Stadium (Sarusajai Stadium)
Karnataka CM Siddaramaiah Launched an Emblem to Mark Golden Jubilee of Renaming State The Chief Minister(CM) of Karnataka, Siddaramaiah, unveiled an emblem of Karnataka Sambrama-50 in a programme organised by the Department of Kannada in Bengaluru, Karnataka.
The launch of emblem marks the golden jubilee of the renaming of Mysore State as Karnataka in on 1st November, 1973.
Renaming: The renaming of Mysore State as Karnataka was made by then Chief Minister (CM) D. DevarajUrs. Year long Celebration: To mark 50 years of renaming the government of Karnataka decided to hold year-long celebrations from 1st November 2023 to 1st November 2024.
Union MNRE Minister RK Singh launches Dashboard for Data on Adoption and Forecasts of EVsOn October 16, 2023, Union Minister Raj Kumar (RK) Singh for Ministry of New and Renewable Energy (MNRE), and Ministry of Power launched a new Electric Vehicle (EV)-Ready India Dashboard (evreadyindia.org) from New Delhi, Delhi.
It is a free digital platform that focus on near real-time EV adoption and forecasts, associated battery demand, charging density, and market growth trends by using data and AI (Artificial Intelligence).
It has been developed by policy and industry experts at thinktank OMI Foundation based in New Delhi, Delhi. About Ministry of Power Union Minister – Raj Kumar Singh (Constituency – Arrah, Bihar) Minister of State– Krishan Pal (Constituency- Faridabad, Haryana)
Mercer CFA Institute Global Pension Index 2023: India ranked 45th out of 47; Netherland topsAccording to the 15th annual Mercer CFA Institute Global Pension Index (MCGPI 2023), India is ranked 45th out of 47countries. The overall index value of India increased from 44.5 in 2022to 45.9 in 2023. India was ranked 41st out of 44 in 2022.
The 2023 Index is topped by the Netherlands with overall index value of 85.0, followed by Iceland (83.5) and Denmark (81.3).
With the lowest index value of 42.3, Argentina is ranked 47th in MCGPI 2023.
The MCGPI 2023 compares 47 retirement income systems across the globe and covers 64% of the world’s population.
India’s sub-indices values were adequacy (41.9), sustainability (43.0), and integrity (56.5).
About Mercer: Chief Executive Officer(CEO)– Martine Ferland Headquarters– New York, United States Established – 1945
MoD Signs Contract with Cochin Shipyard for the Upgradation of INS BeasThe Ministry of Defence (MoD) has signed a contract with Cochin Shipyard Limited (CSL)(Kochi, Kerala) for mid-life upgrade and re-powering of the advanced guided missile frigate Indian Naval Ship (INS) Beas (F37) at a cost of Rs 313.42 crore. i. About the Contract: INS Beas is the first Brahmaputra Class Frigate to be re-powered from steam to diesel propulsion.
After completing mid-life upgrade and re-powering in 2026, INS Beas will join the Indian Navy’s active fleet with a modernised weapon suite and enhanced combat capability.
ii.About INS Beas: INS Beas was the third Ship of the Brahmaputra Class guided missile frigate which was commissioned into the Indian Navy in 2005, and it was originally built by Garden Reach Shipbuilders and Engineers (GRSE)Ltd in Kolkata(West Bengal).
It can reach speeds of more than 30 knots and go more than 4,500 nautical miles without refuelling.
MoD Signs with MDL to construct the first ICG Training Ship The Ministry of Defence(MoD) has signed a contract for the construction of one Training Ship for the Indian Coast Guard (ICG) with Mazagon Dock Shipbuilders Ltd (MDL), Mumbai(Maharashtra) at a cost of Rs 310 crore under the Buy Indian -Indigenously Designed Developed and Manufactured (IDDM) category in New Delhi, Delhi. Facilities: This is the first ICG’s dedicated training platform with integral helicopter capabilities and modern high-tech surveillance and monitoring systems. Benefits: The training ship is set to provide basic sea training to 70 Coast Guard and other international under-trainee officers and prepare them for the multi-dimensional maritime aspects of Coast Guard life.
It will provide insight and expertise to the ICG cadets on the challenges they may face at sea while ensuring the security of coastline and offshore assets.
Note: “Buy-IDDM” has been introduced in Defence Procurement Procedure (DPP) 2016 to promote the indigenous design and development of defence equipment. About Cochin Shipyard Limited (CSL): Chairman & Managing Director(CMD) – Madhu S Nair Headquarters – Cochin, Kerala Incorporated in– 1972 About Mazagon Dock Shipbuilders Ltd (MDL): Chairman & Managing Director(CMD) – Sanjeev Singhal Headquarters – Mumbai, Maharashtra Incorporated as a Private Company in – 1934
As per the report, the Global aggregated losses for the past 30 years (1991-2021) due to disasters events amounts to USD 3.8 trillion, corresponding to about USD 123 billion per year.
This value is equivalent to 5% of global agricultural Gross Domestic Product (GDP), and nearly 300 million tonnes of accumulated losses per year, or the real GDP of Brazil in year 2022.
The disaster events include floods, droughts, insect infestations, storms, disease and war.
About United Nations Food and Agriculture Organization (FAO): Director-General– QU Dongyu Headquarters– Rome, Italy Establishment– 1945
4th G20 FMCBG Meeting held in Marrakech, Morocco, October 12-13, 2023The fourth and last gathering of G20 Finance Ministers and Central Bank Governors (FMCBG) during India’s presidency occurred in Marrakech, Morocco, from October 12 to 13, 2023.Over 370 attendees, including Finance Ministers and Central Bank Governors from G20 member countries, Invitee Countries, and Heads of International Organizations, participated in the event.
The current meeting is being followed by previous meetings that took place in Bengaluru(Karnataka), Washington DC(United States of America), and Gandhinagar, Gujarat.
The FMCBG meeting was preceded by the Fourth G20 Finance and Central Bank Deputies (FCBD) meeting on 11 October 2023 in Marrakesh, Morocco.
The meeting was organized into 2 sessions covering global economy topics, reinforcing Multilateral Development Banks, and discussions on crypto assets.
This meeting coincided with the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG).
G20 FMCBGs adopt Communiqué at fourth and final G20 FMCBG meeti The fourth and last gathering of G20 Finance Ministers and Central Bank Governors (FMCBG) during India’s presidency occurred in Marrakech, Morocco, from October 12 to 13, 2023.Over 370 attendees, including Finance Ministers and Central Bank Governors from G20 member countries, Invitee Countries, and Heads of International Organizations, participated in the event.
The current meeting is being followed by previous meetings that took place in Bengaluru(Karnataka), Washington DC(United States of America), and Gandhinagar, Gujarat.
The FMCBG meeting was preceded by the Fourth G20 Finance and Central Bank Deputies (FCBD) meeting on 11 October 2023 in Marrakesh, Morocco.
The meeting was organized into 2 sessions covering global economy topics, reinforcing Multilateral Development Banks, and discussions on crypto assets.
This meeting coincided with the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG).
3/5 Gorkha Rifles of Indian Army wins Gold in Cambrian Patrol 2023 Military Exercise in UK The 3/5 Gorkha Rifles (Frontier Force) team clinched a gold medal for the Indian Army (IA) at the Cambrian Patrol Competition 2023, an International Military Exercise organzied in Wales, United Kingdom (UK) from October 6, 2023 to October 15, 2023.
67 Punjab Regiment of Pakistan Army received silver medal
Soldiers from 1st Battalion Irish Guards (British Army ) and the 13th Demi-Brigade of the French Foreign Legion (France)have become the first joint effort between a British Army and international team to complete and win Bronze in the exercise.
Cambrian Patrol 2023 Military Exercise: Cambrian Patrol 2023 Military Exercise was hosted by Headquarters 160th (Welsh) Brigade on behalf of Commander Field Army of UK Army.
The Cambrian Patrol Exercise is often dubbed the ‘Olympics of Military Patrolling’ as it is considered the ultimate test of human endurance and team spirit.
It is a mission focused and scenario-based exercise.
Participants: The 2023 exercise saw a participation of 111 teams, encompassing 38 international contingents. Key Points: i.The exercise was made up of eight phases, each of 48 hrs, over 10 days. Each team was challenged to cover approximately 60 kms (average climb and descent is over 1000m) carrying no more than 32 kgs per person. ii.In 2021 also IA secured a gold medal in the same competition. It was grabbed by 4/5 Gorkha Rifles (Frontier Force).
ADB approved USD 181 Million to Improve Services in Peri-Urban Areas of AhmedabadAsian Development Bank (ADB) has approved a loan worth USD 181 million to build infrastructure and services and strengthen urban management in the peri-urban areas of Ahmedabad, Gujarat to control urban sprawl. Scenario in Ahmedabad: i.Ahmedabad is expanding horizontally to adjoining areas (peri-urban areas) due to rapid industrial growth. ii.Since peri-urban areas are unplanned smaller urban local bodies (ULBs), it can’t accomodate the high population due to urbanisation. iii.Ahmedabad Urban Development Authority (AUDA) which is responsible for planning of those areas, identified five growth centers surrounding Ahmedabad city.
Ahmedabad Peri-urban Livability Improvement Project was created with an aim to provide basic infrastructure in these growth centres.
Note: Peri-urban areas are the areas surrounding cities and towns. They are characterized by a mix of urban and rural characteristics. ADB Funding: i.Ahmedabad Peri-urban Livability Improvement Project is funded by Asian Development Bank(ADB). ii.ADB will help the AUDA and urban local bodies improve their ability to use technology for urban planning.
This will include planning for climate change and disasters, as well as infrastructure that protects the environment and promotes social safeguards, gender equality, and social inclusion.
Ahmedabad Peri-urban Livability Improvement Project: i.The project will provide residents of Ahmedabad’s surrounding areas with quality urban infrastructure and services, by building
166 km of water distribution network
126 km of climate-resilient stormwater drainage
300 km of sewerage systems
four sewage treatment plants
ii.The project will also improve 10 junctions along the Sardar Patel Ring Road to increase the connectivity of peri-urban areas to Ahmedabad city. iii.It will also support land development plans and town planning schemes. iv.The project will buildrecycling treated sewage for industrial use through a public–private partnership. v.Women’s self-help groups(SHG) will be trained on how to operate water supply systems. Additional Info: i.The project will help government agencies improve their ability to plan their finances, increase their revenue, and manage their infrastructure assets. ii.All the plans and schemes of the project can also be used by other states to improve their urban planning and development.
Sberbank Becomes First Russian Bank to Register with SEBI as FPI Russian State-owned Sberbank has become the first Russian bank to register with the Securities and Exchange Board of India(SEBI) as a foreign portfolio investor (FPI) for a Category I FPI license.
Foreign portfolio investment (FPI) involves an investor purchasing foreign financial assets to access equities, bonds, derivatives, mutual funds, and guaranteed investment certificates among others.
Category I FPI license is only given to government or government related foreign investors or regulated entities such as banks, sovereign wealth funds, investments trusts, pension funds, asset management companies.
With Sberbank’s registration as FPI, the total number of Russia-based FPIs in India increased to five and the other four are non-banks including Alfa Capital Management, First Asset Management, Igor Noskov, and Vesvolod Rozanov.
Note: Moscow-headquartered Sberbank got approval from the Reserve Bank of India (RBI) in May 2010 to set up a branch in India(New Delhi, Delhi) and commenced its banking business in January 2011.
Bharti Group to Acquire AXA’s 49% Stake in Bharti AXA Life Insurance Bharti Group, through its holding company Bharti Life Ventures Private Limited (BLVPL) has entered into a binding agreement with its Joint Venture(JV) partner AXA to acquire its 49% of stake in Bharti AXA Life Insurance.
Through this acquisition, BLVPL will own 100% stake in the Bharti AXA Life Insurance.
The transaction is expected to be completed by December 2023, subject to regulatory approvals.
Bharti Group into Insurance: Bharti Group set up the ventures with Paris based ‘AXA’ (a French multinational insurance firm) in 2006 and held 74% stake in both – Bharti AXA General Insurance and Bharti AXA Life Insurance . Bharti AXA General Insurance: i.In 2020, Bharti Group and AXA exited the general insurance business by selling Bharti AXA General Insurance to ICICI Lombard General Insurance Limited.
Bharti AXA received two shares of ICICI Lombard for every 115 shares of Bharti AXA held by them.
ii.The transaction came into effect on Sept 08, 2021 after receving necessary approvals from The National Company Law Tribunal (NCLT) and the Insurance Regulatory and Development Authority of India (IRDAI). About Bharti AXA Life Insurance: Presently, Bharti AXA Life Insurance has a 51% stake from Bharti Group and 49% stake from AXA, in line with the regulatory framework on ownership in the Insurance sector. Managing Director(MD)& Chief Executive Officer (CEO)– Parag Raja Headquarters – Mumbai, Maharashtra Established in – 2006
IOCL to Invest Rs 1,660.15 Crore in IndianOil NTPC Green Energy Pvt Ltd Indian Oil Corporation Limited (IOCL), a state-owned Maharatna company, is set to invest Rs 1,660.15 crore as equity in IndianOil NTPC Green Energy Pvt Ltd for setting up renewable power plants.
IndianOil NTPC Green Energy Pvt Ltd is a joint venture (JV) company with a 50:50 share between IOCL and NTPC Green Energy Ltd, (a wholly-owned subsidiary of NTPC Limited) formed in June 2023.
The new JV was formed to set up renewable energy projects (Solar photovoltaics (PV) wind, any other renewable energy, energy storage, or any combination of the same) with a minimum generation of 650 megawatt (MW), to meet 24X7 power requirements of refineries of the IOCL.
IOCL aims to generate 3 Gigawatt (GW) renewable energy and 0.6 million tonnes of biofuels by 2025. It also plans to generate 35 GW by 2030, and 200 GW by 2050.
American Actor Michael Douglas to receive Satyajit Ray Lifetime Achievement Award: 54th IFFI at GoaAmerican actor and producer Michael Douglas will be honoured with the Satyajit Ray Lifetime Achievement Award at the 54th International Film Festival of India(IFFI) to be held in Goa from 20th to 28th November, 2023.
The announcement was made by Union Minister Anurag Singh Thakur, Ministry of Information and Broadcasting (MIB).
About Michael Douglas: i.Michael Douglas is best known for his roles in films like ‘Wall Street,’ ‘Fatal Attraction,’ ‘Wonder Boys’ and ‘Behind the Candelabra.’. ii.He has also produced a several films like “One Flew Over the Cuckoo’s Nest” (1975), “The China Syndrome” (1979), and “The Game” (1999). Awards: i.He has received several awards including 2 Academy Awards(Oscars) and a Primetime Emmy Award.
He won the Academy Award 1988 and a Golden Globe 1988 for his role in Wall Street.
As the producer of the move ‘One Flew over the Cuckoo’s Nest’, he won Academy Award 1975.
He won The Emmy Award: Outstanding Lead Actor In A Miniseries Or A Movie for ‘Behind the Candelabra’ in 2013.
ii.He also received Golden Globe Cecil B. DeMille Award in the year 2004. iii.Michael Douglas received the Honorary Palme d’Or at the 76th Festival de Cannes on May 2023 UN Messenger of Peace i.In 1998, Michael Douglas was appointed as United Nations (UN) Messenger of Peace by UN Secretary-General Kofi Annan for his commitment on nuclear abolition and the prevention of small arms proliferation.
He also play a crucial role in advancing Sustainable Development Goal 16 (SDG 16).
ii.As UN Messenger of Peace, he hosted the documentary “What’s Going On?” filmed in Sierra Leone (a country in West Africa). It is a part of a UN/Showtime ten-part series. About the Satyajit Ray Lifetime Achievement Award: i.The Satyajit Ray Lifetime Achievement Award is presented to individuals for their outstanding contribution to the growth and development of World cinema. ii.It was instituted in 1999 at the 30th IFFI which was held in Hyderabad (Telangana). iii.Spanish film Director Carlos Saura was awarded with Satyajit Ray Lifetime Achievement award in 53rd IFFI in 2022.
Other noted recipients of the award includes Martin Scorsese(IFFI 52), Wong Kar-wai(IFFI 45), Krzysztof Zanussi (IFFI 43), Dilip Kumar(IFFI 38) and Bernardo Bertolucci(IFFI 30).
Note: IFFI is the only film festival in South Asia to be accredited by the International Federation of Film Producers’ Associations (FIAPF) in Competitive Feature Films Category.
MEA Spokesperson ArindamBagchi AppointedPermanent Representative of India to UN in GenevaArindam Bagchi, Additional Secretary [External Publicity(XP)] and Spokesperson of the Ministry of External Affairs (MEA) has been appointed the next Ambassador/Permanent Representative of India to the United Nations (UN) and other international organisations in Geneva, Switzerland.
Arindam Bagchi is set to take over the post from Indra Mani Pandey, the incumbent Indian envoy to the UN in Geneva. Pandey has been holding the position since September 2020. and is now set to return to New Delhi, Delhi after a three-year term.
About ArindamBagchi: i.He is a 1995-batch Indian Foreign Service (IFS) official, who took over as spokesperson of MEA in March 2021. ii.As MEA spokesperson, He has handled key issues and developmnets like eastern Ladakh border row (2020-2021), India’s COVID-19 response (2019), and New Delhi’s G20 Presidency (2023). iii.Earlier, he served as Ambassador to Croatia from 2018 to 2020 and Deputy High Commissioner to Sri Lanka. iv.He was working as MEA’s Joint Secretary (North) at the MEA headquarters in Delhi. v.He also served at the Prime Minister’s Office(PMO) as a Director as well as at India’s Permanent Mission at the UN in New York, the United States of America(USA). Permanent Mission of India in Geneva: The Permanent Mission of India in Geneva has three separate wings
Permanent Mission of India to the UN and Other International Organizations in Geneva – headed by Arindam Bagchi.
Permanent Mission of India to the Conference on Disarmament in Geneva – headed by Dr. Anupam Ray.
Permanent Mission of India to the World Trade Organization(WTO) in Geneva – headed by Brajendra Navnit.
Headquartered in the Consulate General of India in Geneva.
Justice Siddharth Mridul Appointed Chief Justice of Manipur High Court Delhi High Court judge Siddharth Mridul was appointed Chief Justice (CJ) of Manipur High Court by the union government based on the recommendation of the Supreme Court Collegium in July 2023.
Justice Siddharth Mridul is set to replace Justice Muralidharan who has been serving as the Acting Chief Justice(ACJ) of the Manipur High Court since February 2023.
Justice Siddharth Mridul was appointed as the additional Judge of the High Court of Delhi in March 2008 and He has been serving as Delhi HC Judge since May 2009.
The position of Chief Justice of the Manipur High Court vacant since February 2023 after Justice P.V. Sanjay Kumar was appointed as the Judge of the Supreme Court.
Nobel winning American Poet Louise Glück Passed AwayLouise Elisabeth Glück, an acclaimed Jewish-American poet & essayist and Nobel laureate (Literature 2020), passed away at the age of 80 in Cambridge, Massachusetts, the United States of America (USA). She was born on 22 April 1943 in New York, USA. About Louise Glück: i.She worked as a senior lecturer in the Williams College in Williamstown, Massachusetts (USA). ii.In 2000, she commenced a three-year term as a poetry consultant to the Library of Congress for its bicentennial celebrations.
She was named 12th Poet Laureate Consultant in Poetry to the Library of Congress in 2003.
iii.She has also served as the adjunct professor of English and the Rosenkranz Writer in Residence in the Yale University. iv.She won the 2020 Nobel prize for literature and became the 1st American poet to do so since TS Eliot in 1948. She was also the 16th woman to win the Nobel Prize for Literature. v.In 2016, she was honored with the National Humanities Medal by then President Barack Obama. Noted Works & Awards: i.Firstborn, the 1st collection of poems by Louise Glück was published in 1968. She won the Academy of American Poets College Prize for this book.
Her 2nd, 3rd and 4th books were The House on Marshland(1975); The Garden(1976); and Descending Figur(1980).
ii.She won the National Book Critics Circle Awards (Poetry) for ‘The Triumph of Achilles’ in 1985 and won the Bobbitt Prize from the Library of Congress in 1992 for ‘Ararat’ (She shared the prize with Mark Strand, a Canadian-born-American poet). iii.She won the Pulitzer Prize for Poetry in 1993 for “The Wild Iris” iv.Her essay collections on poetry included Proofs and Theories (1994) and American Originality (2017).
International Day for the Eradication of Poverty 2023- October 17The United Nations (UN) International Day for the Eradication of Poverty also known as End Poverty Day is annually observed across the globe on 17 October to raise awareness about the global issue of poverty and how it is a violation of human rights and human dignity. The 2023 theme of International Day for the Eradication of Poverty is, “Decent Work and Social Protection: Putting Dignity in Practice for All.” Background: i.The International Day for the Eradication of Poverty was first observed as World Day for Overcoming Extreme Poverty on 17 October 1987. ii.On 22nd December1992, the United Nations General Assembly (UNGA) adopted a resolution A/RES/47/196 and declared the 17th of October of every year as International Day for the Eradication of Poverty.
World Trauma Day 2023 – October 17World Trauma Day is annually observed across the globe on October 17 to raise awareness about trauma and educate people on ways to address traumatic incidents and deaths.
17th October 2023 marks 13th World Trauma Day.
Theme: The theme of World Trauma Day 2023 is ‘Embracing Resilience, Overcoming Trauma’s Impact’. Background: i.World Trauma Day was established in 2011 in New Delhi, Delhi. ii.The day was established in response to the alarming number of daily deaths (exceeding 400) due to traffic accidents. What is Trauma? i.Trauma means “any injury caused to the body”. It is an emotional response to a terrible event like an accident, rape, or natural disaster. ii.The leading trauma across the world is Road Traffic Accidents (RTA).
According to National Crime Records Bureau (NCRB), about 1.37lakh people died in India due to road accidents in 2013.
iii.Traumatic injuries leads to more deaths (to people below the age of 45) when compared to diseases like malaria, HIV/AIDS, and tuberculosis(TB). Bone and Joint Action Week: i.World Trauma Day is a part of Bone and Joint Action Week which is annually observed from October 12 to October 20. ii.There are five special days during Action Week.
MoEF&CC launches Green Credit Program & Ecomark Scheme to Encourage Eco-Friendly Actionsi.The Ministry of Environment, Forest and Climate Change (MoEF&CC) launched 2 new initiatives, Green Credit Program (GCP) and the Ecomark Scheme to encourage sustainable practices rooted in tradition and conservation and promote the ideas of ‘LiFE’ – ‘Lifestyle for Environment’ movement.
These 2 initiatives includes India’s pro-active approach of climate change, sustainability and promotion of eco-conscious practices.
ii.Green Credit Program (GCP) was notified on 12th October 2023. It is an innovative market-based mechanism designed to incentivize voluntary environmental actions across diverse sectors, by various stakeholders. iii.Ecomark Scheme notified on 11th October 2023 succeed the previous rules notified in 1991. It provides accreditation and labelling for household and consumer products that meet specific environmental criteria while maintaining quality standards as per Indian norms iv.The Ministry of New and Renewable Energy (MNRE) notified the Green Hydrogen Standard for India which sets emission limits for hydrogen production to be considered ‘Green,’ indicating it comes from renewable sources. About Bureau of Indian Standards (BIS): Director General– Pramod Kumar Tiwari Headquarters– New Delhi, Delhi Establishment– April 1, 1987
NSDC & Coca-Cola India Partners to launch Super Power Retailer ProgramOn October 15, 2023, the New Delhi, Delhi-based National Skill Development Corporation (NSDC), working under the aegis of the Ministry of Skill Development & Entrepreneurship (MSDE) has partnered with Coca-Cola India to launch the Super Power Retailer Program under the Skill India Mission.
This will empower the retailer community in the states of Odisha and Uttar Pradesh (UP).
The program is being piloted in Odisha.
Key People: The partnership was announced in the presence of Union Minister DharmendraPradhan, Ministry of Skill Development and Entrepreneurship (MSDE); Ved Mani Tiwari, CEO (Chief Executive Officer), NSDC; and Sanket Ray, President, Coca-Cola India & Southwest Asia. Super Power Retailer Program: i.Under the partnership, NSDC will also assist Coca-Cola India in expanding the Skill India Digital (SID) program by developing industry-specific training content, recruiting trainers, and providing necessary training infrastructure for a seamless learning experience. ii.Super Power Retailer will empowerSmall and micro retailers with training to expand businesses and enhance consumer experiences. iii.under this initiative, around 1.40 crore retailers will get 14 hours of quality retail training via Skill India Digital (SID) Portal.
Training includes classroom sessions an app-based Learning Management System (LMS) and digital modules accessible on mobile devices.
iv.Topics cover business strategies, digital platform usage, and planning implementation. v.These training modules will be available in multiple languages.
Her Excellency Dr. Samia Suluhu Hassan, President of the United Republic of Tanzania’s State Visit to India, October 8-10, 2023
President Samia Suluhu Hassan of Tanzania visited India at invitation of President Droupadi Murmu from October 8-10, 2023. The events took place at Kaushal Bhawan,New Moti Bagh in New Delhi,Delhi. She was accompanied by a high-level delegation including the Minister for Foreign Affairs and East African Cooperation Hon. January Makamba (MP).
She also attended the India-Tanzania Business and Investment Forum on October 10, 2023.
The two countries inked six agreements providing for cooperation in the digital domain, culture, sports, maritime industries and white shipping information sharing.
The Reserve Bank of India has allowed authorized banks to open Special Rupee Vostro Accounts (SRVA)for correspondent banks of Tanzania to facilitate transactions in local currencies (i.e., Indian Rupee and Tanzanian Shilling).
Tanzania’s President Hassan Granted Honorary Doctorate by JNU, the First Woman to Receive This Honour.
About Tanzania Capital – Dodoma Currency – Tanzanian shilling President – Samia Suluhu Hassan Prime Minister- Kassim Majaliwa
East Coast Sagar Kavach 02-23: Coastal Security Exercise held in AP, TN & Puducherry A two-day comprehensive Coastal Security Exercise SagarKavach 02/23 was conducted in Andhra Pradesh(AP), Tamil Nadu(TN) and Puducherry(PY) from 11-12 October 2023 to assess the efficacy and robustness of the coastal security system in responds to unconventional threats from the sea.
About 2500 personnel including from Indian Navy, Indian Coast Guard, State and Union Territory Administration, Marine Police, Fisheries, Customs, International Agencies, Light Houses, Ports Forest etc were engaged in the exercise.
The Joint Operations Centre (East) in Visakhapatnam(AP) is the nodal hub to monitor all coastal security operations and exercises in area of operations.
The exercise was carried out under the leadership of the Vice Admiral Rajesh Pendharkar who is the Flag Officer Commanding-in-Chief Eastern Naval Command (FOCINC (East)). He is also the Commander-in-Chief, Coastal Defence (East).
Indian Navy ships, Coast Guard assets, and other coastal security agencies were deployed to increase surveillance in the area.
Enhanced security measures were put in place, and Dornier aircraft and helicopters from Visakhapatnam, Chennai(Tamil Nadu), and Ramnathapuram(Tamil Nadu) conducted extensive aerial surveillance.
Forbes’ India’s 100 Richest 2023: Mukesh Ambani Top the List with USD 92 BillionMukesh Ambani, the Chairman and Managing Director of Reliance Industries Ltd. topped the Forbes India’s 100 Richest 2023 List with USD 92 Billion. Mukesh Ambani regains the ‘Richest Indian’ title after he slipped to second spot in 2022.
With a net worth of USD 68 Billion, Gautam Adani of Adani Enterprises slipped to the second rank from the first in 2022 and Shiv Nadar of HCL Technologies ranked 3rd with a net worth of USD 29.3 Billion.
Savitri Jindal of the O.P. Jindal Group is India’s richest woman with a net worth of USD 24 billion. She ranked 4th in the list with net worth of USD 24 Billion.
Nikhil Kamath, co-founder of the trading platform Zerodha, is the youngest billionaire at the age of 37. He ranked at 40th position along with his Brother Nithin(44 years old) with a net worth of USD 5.5 Billion.
NTPC Limited, formerly known as National Thermal Power Corporation ranked 261st out of the top 700 companies in the Forbes “World’s Best Employers 2023” list and it is the only Indian Public Sector Undertaking (PSU) featured in the list.
About Forbes: Forbes is a global media company, focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle. Chief Executive Officer (CEO)- Mike Federle Headquarters- Jersey City, New Jersey, the United States of America (USA) Founded in – 1917
RBI Governor Shaktikanta Das receives award for A+ rank Global Finance’s Central Banker Report Cards 2023 Reserve Bank of India (RBI) Governor Shaktikanta Das has received Best Central Bank Award 2023from Global Finance Magazine in 30th Annual Best Bank Award 2023 Marrakesh in Morocco.
Shaktikanta Das was rated as A+ in Global Finance’s Central Banker Report Cards 2023.
Other A+ rated governors: Thomas J. Jordan, the Governor of Swiss National Bank (SNB) and Nguyen Thi Hong, the Governor of State Bank of Vietnam(SBV) were also rated A+ in Central Banker Report Cards 2023. Central Banker Report Cards: i.The Central Banker Report Cards is an annual publication by Global Finance magazine that grades the central bank governors of 101 key countries, territories, and districts. ii.The grades are based on a scale from A to F, with A representing excellent performance and F representing outright failure. iii.The grades are based on the central bank governors’ success in inflation control, economic growth goals, currency stability, and interest rate management. iv.The Central Banker Report Cards recognize central bank governors who have developed and implemented original, creative, and tenacious strategies that have outperformed their peers. Global Finance was founded in 1987 and headquartered in New York, United States of America(USA).
Daniel Noboa Becomes Youngest President Elect of EcuadorDaniel Noboa, a 35-year-old businessman and a member of National Democratic Action, won the 2023 General Election of Ecuador defeating Luisa González of the Citizen Revolution Movement.
With this victory, Daniel Noboa becomes the yougest ever President elect of Ecuador.
Daniel Noboa is scheduled to be sworn in on 25 November 2023 succeeding the outgoing President Guillermo Lasso.
He will serve out the term of Guillermo Lasso, which will end in May 2025.
Background: i.Normally, the presidential terms in Ecuador is 4 years long. ii.The outgoing President Guillermo Lasso(President since 2021) dissolved the National Assembly by decree in May 2023, during an impeachment trial and prompted an early election. Note:
The President is directly elected by absolute majority vote in up to two rounds. The President may serve up to two 4-year terms.
All 137 members of the National Assembly are directly elected and serve 4-year terms.
Outcome of the Election: i.At the run-off elections held on 15 October 2023, with more than 97% of votes counted, Daniel Noboa, a centrist, had a lead of 4% points over his left-wing rival, Luisa González.
He received 52.29% of the total votes, against rival Luisa González’s 47.71%
ii.Following the dissolution of the National Assembly, President Guillermo Lasso now has a window of up to 6 months to govern via decree. iii.The allotted 6-month window for governance serves as a transitional phase preceding the scheduling of new general elections. About Daniel Noboa: i.Daniel Noboa is the son of Ecuador’s richest man, banana tycoon, Alvaro Noboa, who himself unsuccessfully stood for elections multiple times. ii.He entered politics in 2021, when he was elected to the National Assembly of Ecuador as a representative of Santa Elena province for the United Ecuadorian movement. iii.He was positioned as a member of the National Assembly of Ecuador from 2021 to 2023 and chaired its Economic Development Commission. iv.Before entering politics, he established himself as a businessman, founding his own company at the age of 18, DNA Entertainment Group, an event organising company. v.He also served as the Shipping Director and commercial and logistics director of Noboa Corporation between 2010 and 2018. About Ecuador: Capital– Quito President– Guillermo Lasso Currency– United States Dollar (US Dollar)
Christopher LuxonElected as the 42nd PM of New ZealandChristopher Luxon has been elected as the 42nd Prime Minister(PM) of New Zealand. He belongs to (and the leader of) central-right National Party of New Zealand.
He will succeed Labour Party’s Chris Hipkins who was appointed the 41st PM of New Zealand in January 2023.
About Christopher Luxon: i.Christopher Luxon was born on 19th July, 1970 in Christchurch, New Zealand. ii.He joined Air New Zealand as a Group General Manager in 2011 and promoted to the post of Cheif Executive Officer(CEO) in 2013. iii.In 2008 to 2011, he has been CEO of Unilever(Canada). Political Entry: i.He joined New Zealand National Party in 2019 as a Candidate for Botany Downs, Auckland in New Zealand. ii.He became Member of Parliament(MP) in 2020 by defeating Naisi Chen of Labour Party. iii.In 2021, he became the leader of the National Party and served as Leader of the Opposition. About the Election: i.New Zealanders went to the polls on October 14, 2023, to elect the 54th Parliament.
There are six parliamentary parties represented in the Parliament by 121(MPs).
These members represent 65 general electorate seats, 7 Māori electorate seats, and 49 party list seats.
ii.The official results will be released on November 3, 2023,once overseas and special votes(20% of the total votes) have been counted. iii.As of now, The National Party has won 50 seats and its ally, ACT party(headed by David Seymour), have won 11.
With a one-seat majority in the New Zealand Parliament, National Party(along with ACT) will form the government.
iv.The Labour Party has only won 34 seats. About New Zealand: Prime Minister – Chris Hipkins Capital – Wellington Currency – New Zealand Dollar
Mohammed Shami Appointed as Brand Ambassador of Puma India Puma India has roped in Indian right-arm fast bowler fast bowler Mohammed Shami Ahmed as its brand ambassador.
As part of this partnership, Shami will promote Puma’s shoes, clothing, and accessories through various activities and campaigns.
About Mohammed Shami Ahmed: i.Shami made his international debut in a One Day International (ODI) against Pakistan in January 2013, bowling four maiden overs. ii.In December 2021, he became the third fastest Indian pacer with the least number of deliveries to take 200 Test wickets. iii.He holds the record of most consecutive four wickets in an innings in One Day Internationals. iv.He plays domestically for Bengal and, in the Indian Premier League, for Gujarat Titans. Noted Ambassadors of Puma:
Cricketer Virat Kohli (India)
Sprinter Usain Bolt (Jamaica)
Footballers Neymar Jr(Brazil) and Sunil Chhetri(India)
Boxer MC Mary Kom(India)
Cricketers Harmanpreet Kaur(India) and Harleen Deol (India)
Para-shooter Avani Lekhara (India)
NASA’s Psyche Spacecraft was Launched to Study Metal Asteroid ‘Psyche’National Aeronautics and Space Administration (NASA) has launched a Psyche Spacecraft to an interplanetary transfer orbit by using SpaceX Falcon Heavy rocket from Launch Complex 39a (LC-39a) at NASA’s Kennedy Space Center in Florida, United States of America (USA) on 13th October 2023.
After escaping Earth’s gravity, Psyche Spacecraft will use solar electric propulsion to accomplish its six-year journey to the asteroid called ‘Psyche’ which is orbiting the Sun between Mars and Jupiter. .
About Psyche Mission: i.This is NASA’s first mission to study an asteroid that has more metal than rock or ice. . ii.NASA selected the Psyche mission on January 2017, as one of two missions for its Discovery Program.
The Discovery Program is a series of relatively low-cost missions to explore the solar system.
iii.The mission is led by Arizona State University of USA. iv.The Psyche mission will also test a new communication technology called Deep Space Optical Communication (DSOC).
DSOC uses lasers to encode data in photons, which are then transmitted between a spacecraft in deep space and Earth.
DSOC will test optical, or laser, communications beyond the Moon.
About Psyche spacecraft: i.The Psyche spacecraft is built by Maxar Technologies Inc. of USA. ii.The spacecraft will travel to the asteroid using solar-electric (low-thrust) propulsion, following a Mars flyby and gravity-assist. iii.It will reach the asteroid by 2029. iv.After arriving, the spacecraft will map the asteroid and study its properties. Equipments: i.Psyche’s most of the telecommunications systems are manufactured by Jet Propulsion Laboratory (JPL) of NASA. ii.The spacecraft is equipped with
Four antennas(for communication with earth),
Multispectral imager with a pair of identical cameras and telescopic lenses (to take the picture of the surface of the asteroid).
iii.To study the chemical elements of asteroid’s surface material, it is provided with gamma-ray and neutron spectrometer. iv.Magnetometer will look for evidence of an ancient magnetic field at asteroid Psyche. About Psyche asteroid: i.Psyche is a giant metal rich asteroid, discovered by Italian astronomer Annibale de Gasparis in 1852.
It’s named after the goddess of the soul in ancient Greek mythology, depicted as a butterfly-winged female figure.
ii.It is an irregular, potato-like shaped asteroid located at the distance ranging from 235 million to 309 million miles (378 million to 497 million kilometers) from the Sun.
The asteroid dimension is 173 miles (280 kilometers) width and 144 miles (232 kilometers) long.
iii.It is made up of a mixture of rock and metal, with metal composing 30% to 60% of its volume. iv.Psyche is also called as 16 Psyche, as it was the 16th asteroid to be discovered. Why Psyche is important? i.Psyche is made up of a lot of metal from the core of a planetesimal, which is one of the small building blocks of our solar system. ii.It is believed that Psyche is likely a survivor of many violent collisions that were common when the solar system was forming. iii.So, exploring Psyche will give insights into the early history of our solar system and the formation of planets. iv.The mission aims to find whether Psyche is remnant core material, how old it is, whether it formed in conditions similar to the Earth’s core, and what its surface is like.
Padma Vibhushan Awardee & 11th CEC of India MS Gill Passed AwayPadma Vibhushan Awardee and the 11th Chief Election Commissioner (CEC) of India, Dr. Manohar Singh Gill (MS Gill), passed away in New Delhi, Delhi at the age of 87. He was born on June 14, 1936, in undivided Punjab. He had a distinguished career as an Indian bureaucrat, politician, and writer. About MS Gill: i.MS Gill was a 1958 batch of the Indian Administrative Service (IAS) officer of Punjab cadre.
He served as Agriculture Secretary of Punjab from 1985 to 1987 and later as a Union Agriculture Secretary in the 1990s.
ii.He has also served as the CEC of India between December 1996 and June 2001. During his tenure as CEC, the Election Commission of India (ECI) successfully conducted the:
General elections to the 12th Lok Sabha in 1998 and the 13th Lok Sabha in 1999;
11th Presidential polls and Vice-Presidential elections in 1997; and
Polls to assemblies in more than 20 states.
iii. He also played a major role in the introduction of Indian electronic voting machines(EVM), the replacement of the ballot box .
EVM’s were first used in 1982 in the By-election to the North Paravur Assembly constituency in Kerala.
EVM was developed by the Electronics Corporation of India Ltd. (ECIL), Hyderabad(Telangana). The Bharat Electronic Ltd. (BEL), Bengaluru(Karnataka) was co-opted to to manufacture EVMs.
iv.He joined the Indian National Congress (INC) Party in 2004 and served as a Member of Parliament (MP) – Rajya Sabha representing Punjab from 2004 to 2016.
He held positions as Minister of State(MoS) in the Ministry of Youth Affairs and Sports(MoYAS), and the Ministry of Statistics and Programme.
v.He has also served as the President of the Indian Mountaineering Foundation(1993-99)and Himalayan Club (1999-2005). He has also served as the as the President emeritus of Himalayan club since 2013. Awards/Honours: i.MS Gill was awarded the Padma Vibhushan in 2000 for his exceptional and distinguished services as a civil servant. ii.He received the Nishan-e-Khalsa honour on the 300th anniversary of the Khalsa. It is a testament to his deep-rooted connections and contributions to the Sikh community. Books: Himalayan Wonder: Travels in Lahaul and Spiti (1972) and Tales from the Hills: Lahaul’s Enduring Myths and Legends (2014).
Martti Ahtisaari, Former Finnish President & Nobel Peace Prize Winner, Passed AwayNobel Peace Laureate, Martti Ahtisaari, who served as the 10th President of Finland (1994 to 2000), passed away at the age of 86 in Helsinki, Finnland. About MarttiAhtisaari: i.MarttiAhtisaari joined the Ministry for Foreign Affairs of Finland in 1965, holding various posts in the Ministry’s Bureau for Technical Co-operation from 1965 to 1972, and also served as Assistant Director from 1971 to 1972. ii.He was also a member of the Government Advisory Committee on Trade and Industrialisation Affairs of Developing Countries from 1971 to 1973. iii.He assumed the role of the Ambassador of Finland to the United Republic of Tanzania from 1973 to 1976, with additional accreditation to Zambia, Somalia, and Mozambique from 1975 to 1976. iv.He first served as a member of the Senate of the United Nations (UN) Institute for Namibia between 1975 and 1976.
He acted as UN Commissioner for Namibgia from 1977 to 1981. In July 1978 he was appointed Special Representative of the Secretary-General (SG) for Namibia.
He led the UN Transition Assistance Group (UNTAG) in Namibia from 1989 to 1990. His first peace-making task resulted in the independence of Namibia.
Between 1987 and 1991, he was the Under-SG of the UN for administration and management.
v.In 1994, Finland’s Social Democratic Party (SDP) nominated him to run for the presidency and he became Finland’s first directly-elected president. He held office from March 1, 1994, to February 29, 2000. vi.Later in 2000, he founded the Crisis Management Initiative (CMI), a non-governmental organisation of which he was Chairman of the Board.
On 1 May 2021, CMI transferred all its operations to the new legal structure CMI – Martti Ahtisaari Peace Foundation.
vii.Between 14 November 2005 and 29 February 2008, he was a Special Envoy to the SG of the UN for the future status process for Kosovo. Awards: i.In 2000, he was awarded the Hessian Peace Prize for his mediation efforts to end the Kosovo War. ii.In 2008, Martti Ahtisaari was awarded the Nobel Peace Prize for his important efforts, on several continents and over more than three decades, to resolve international conflicts.
He played a key role in negotiating peacein in multiple countries, including Namibia, Kosovo, Indonesia and Northern Ireland.
iii.He was awarded the UNESCO Félix Houphöuet-Boigny Peace Prize in 2008 for his lifetime contribution to world peace. Books: Finns in the United Nations (1996); Can the international community meet the challenges ahead of us? (2009); Global Disorders: A New Global Order? (Co-author, 2014).
Oscar & Emmy-Nominated American Actress Piper Laurie Passed Away American actress Piper Laurie(also known as Rosetta Jacobs) was passed away in Los Angeles(LA), United States of America(USA). She was born in 1932 at Michigan, USA. OSCAR Academy Awards Piper Laurie nominated three times for Oscar Academy Awards of Academy of Motion Picture Arts and Sciences (AMPAS) for the following movies:
She was first nominated in 1961 for the movie “The Hustler”
Later she was nominated for two more movies namely “Carrie,” (1976) and “Children of a Lesser God” (1986)
Emmy Awards: i.Out of nine nominations, she received one Emmy award. ii.In 1987, Piper Laurie won an Emmy for Outstanding Supporting Actress in a Miniseries or a Special for her performance in “Promise”
World White Cane Day 2023 – October 15World White Cane Day, also known as White Cane Safety Day, is annually observed across the globe on 15th October to promote accessibility and inclusion for people with disabilities and to increase public awareness of the rules of conduct for the visually impaired people. Background: i.In 1960s, the National Federation of the Blind (NFB) in the United States of America(USA) began advocating for the use of the white cane as a symbol of independence and mobility for blind and visually impaired people.
With the effort of NFB, the United States Congress issued a joint resolution to observe World White Cane Day.
iii.The first World White Cane Day was observed on 15th October 1964 by then-US President Lyndon Baines Johnson. What is White Cane? i.The white cane is a critical mobility tool for blind people that has been used for centuries. ii.Along with cane, blind people use their hearing and touch senses to navigate their surroundings and perform daily tasks easily. iii.Over time, it has become more than just a tool, but a symbol of freedom, independence, and confidence for them. Observance in India: i.World White Cane Day is observed in India by the Department of Empowerment of Persons with Disabilities (DEPwD) under the Ministry of Social Justice and Empowerment (MoSJE).
It is the nodal department which oversees the development agenda of Persons with Disabilities.
ii.DEPwD conducted activities like Awareness Programmes, Seminars & Webinars, Interviews and Rally at more than 30 places across India. iii.A rally was also organised by National Institute for the Empowerment of Persons with Visual Disabilities (NIEPVD).
World Students Day 2023- October 15World Students Day is annually observed on 15 October to commemorate the birth anniversary of the 11th President of India (from 2002 to 2007) and the Missile Man of IndiaDr. A P J (Avul Pakir Jainulabdeen) Abdul Kalam.
15 October 2023 marks the 92nd birth anniversary of Dr. APJ Abdul Kalam.
About Dr. APJ Abdul Kalam: Dr. APJ Abdul Kalam was born on 15 October 1931 in Rameswaram, Tamil Nadu. .As an aerospace Scientist, he worked with the Indian Space Research Organisation (ISRO) and the Defence Research and Development Organisation (DRDO). Awards: Padma Bhushan in 1981 for Civil Service; Padma Vibhushan in 1990 for Science and Engineering and Bharat Ratna in 1997 for Science and Engineering. Autobiography: Wings of Fire: An Autobiography (1999)
World Food Day 2023 – October 16 The United Nations (UN) World Food Day (WFD) is annually observed across the globe on 16 October to highlight the millions of people worldwide who cannot afford a healthy diet and the need for regular access to nutritious food.
WFD also raises awareness of hunger and action for the future of food, people, and the planet and also to ensure food security and combating hunger.
The day 16 October also commemorates the establishment of the Food and Agriculture Organization (FAO) of the UN in 1945. The 2023 theme of WFD is, ‘Water is Life, Water is Food. Leave No One Behind.’
The theme highlights the basic role of water in guaranteeing food security and focuses on the need for water resources in our attempts to battle hunger and malnutrition, emphasizing the need to ensure equitable access to water resources for all.
The observance of WFD is led by the FAO. WFD is one of the most celebrated days on the UN calendar. Background: i.WFD was established in 1979 during the 20th session of the Conference of FAO, held in Rome, Italy. ii.On 5 December 1980, the United Nations General Assembly (UNGA) adopted the resolution A/RES/35/70 and proclaimed the 16th of October of every year as WFD. iii.The first-ever WFD was observed on 16 October 1981. The Food Safety and Standards Authority of India (FSSAI) marked WFD 2023 by launching the Eat Right Creativity Challenge (ERCC), a national-level initiative for Millets (Shree Anna). It aims to encourage the consumption of millet among school children to promote their health benefits and extend this knowledge to the wider community.
Cabinet Approval October 2023In a significant development, the Union Cabinet, presided over by Prime Minister Shri Narendra Modi,
Approved an amendment to the Second Schedule of the Mines and Minerals (Development and Regulation) Act, 1957 (MMDR Act) for specifying royalty rates for three critical and strategic minerals: Lithium, Niobium, and Rare Earth Elements (REEs).
Approved an establishment of autonomous organization known as “Mera Yuva Bharat” (MY Bharat).
Cabinet approves Memorandum of Understanding between India and France on cooperation in the field of Digital Technologies.
Cabinet approves an MoU between India and Papua New Guinea, Trinidad and Tobago for Digital Transformation.
Bhopal’s Mahila Thana became India’s 1st Women-centric Police Station to get ISO 9001:2015 CertificationTheMahilathana (women’s police station) of Bhopal (Madhya Pradesh) became the first women-centric police station across the entire India to be certified with the International Organization for Standardization (ISO) 9001:2015 certificate.
The ISO certificate is issued for 3 years.
With this certification, Mahila Thana has become the 2nd ISO-certified police station in Bhopal. In May 2023, Misrod police station became the first ISO 9001:2015 certified police station of Bhopal.
Key People: Hemlata Sharma, Director of Infinity Certification Services presented the certificate to Harinarayan Chari Mishra, Commissioner of Police (CP) of Bhopal. Senior police official Anurag Sharma, Additional Commissioner of Police (ACP), Bhopal was also present on the occasion. Features of ISO-Certified Bhopal’s Mahilathana: i.Upgrades were implemented, including the provision of separate rooms and dedicated computer systems for the investigating officers and staff, minimizing potential risks during meetings and operations. ii.Closed Circuit Television (CCTV) cameras were installed throughout the premises of the Police station. iii.The station was redesigned to be more ‘victim friendly’. A swing house has been set up for children and more than 5 toilets have been built. iv.A dedicated feeding room was set up to serve the needs of women. ISO Certification: It specifies the requirement of an ideal Quality Management System (QMS) and provides a framework for organizations to improve efficiency, enhance customer satisfaction, and achieve continual improvement. ISO Certification for Police Station: i.It will be issued based on the records they are maintaining at the police stations, cleanliness, interiors, reception office, CCTV camera installation, control room, and public waiting room with basic amenities. ii.The stations should also meet standards in terms of maintaining strong public relationships with available resources for implementing strong social policing strategies within their jurisdiction. What is ISO? i.ISO is an independent, international organization with a membership of 169 national standards bodies. ii.It is a non-governmental organization (NGO) established in 1947 and based in Geneva, Switzerland.
The organization issues certificates to businesses after checking their products or services for quality, safety, and efficiency.
51st meeting of the Executive Committee of NMCG Approves 7 Projects worth Rs 285 CroreThe Executive Committee (EC) of the National Mission for Clean Ganga (NMCG) during its 51st meeting approved 7 projects worth around Rs. 285 crore. The meeting was held on 12th October 2023 under the chairmanship of G. Asok Kumar, Director General (DG) of NMCG.
The committee has approved 3 projects for sewerage management: 2 in West Bengal and 1 in Uttarakhand.
The EC also approved the extension of the Composite Ecological Task Force (Ganga Task Force (GTF)) to continue assisting in the rejuvenation of River Ganga.
The EC also approved the proposal to developGangaVatika Park in Dhalwala, Uttarakhand.
About Ministry of Jal Shakti: Union Minister– Gajendra Singh Shekhawat (Constituency- Jodhpur, Rajasthan) Minister of States– Prahlad Singh Patel (Constituency- Damoh, Madhya Pradesh); Bishweswar Tudu (Constituency- Mayurbhanj, Odisha)
IRCON & RITES became 15th & 16th ‘Navratna CPSE’The Department of public Enterprise(DPE) under the Ministry of Finance have been granted Navratna status to two Central Public Sector Enterprises (CPSEs) namely Ircon International Limited (IRCON) and RITES Limited (RITES) under the Ministry of Railways(MoR).
IRCON is a specialized construction company that covers the entire range of construction activities and services in the infrastructure sector. It is now the 15th company to be granted Navratna status.
RITES Limited which is a multidisciplinary engineering and consultancy organization is the 16th Navratna amongst CPSEs.
About Ircon International Limited (IRCON): Chairman & Managing Director(MD) – Brijesh Kumar Gupta Headquarters – New Delhi, Delhi Established in – 1976 About RITES Limited (RITES): Chairman & Managing Director(MD) – Rahul Mithal Headquarters – Gurugram, Haryana Established in – 1974
Overview of Defence Minister Rajnath Singh’s visit to Italy & Francei.From October 9-12, 2023, India’s Union Minister Rajnath Singh, Ministry of Defence(MoD) was on an official visit to Rome, Italy and Paris, France. ii.The visit to Italy was the first in over 20 years by an Indian Defence Minister. He was received by the by the Indian Ambassador to Italy Dr NeenaMalhotra and Italy’s Minister of Defence Guido Crosettoat Ciampino Airport, Rome. iii.A defence cooperation agreement was signed between India and Italy to promote bilateral cooperation in areas such as security and defence policy, Research and Development (R&D), and others. iv.On October 11, 2023, Union Minister Rajnath Singh conducted the 5th Annual Defence Dialogue with French Minister of Armed Forces Mr Sebastien Lecornu in Paris. v.In both countries, Union Minister Rajnath Singh was given Guard of Honour. About France: President– Emmanuel Macron Capital– Paris Currency– Euro
Sri Lanka took over as Chair of Indian Ocean Rim Association; India as Vice ChairOn October 11, 2023, Sri Lanka took over as Chair of Indian Ocean Rim Association (IORA) for the period 2023 to 2025 during the 23rd Council of Ministers’ (COM) meeting of the Indian Ocean Rim Association (IORA) held in Colombo, Sri Lanka on 11 October 2023.
Sri Lanka took over from the People’s Republic of Bangladesh, the current Chair of IORA (2021 to 2023).
Sri Lanka’s Foreign Minister Ali Sabry will chair the Council, the highest decision-making body of the IORA.
India assumed the Vice–Chair role of IORA for 2023–25. India is set to take over the chairship of IORA during 2025-27. 23rd COM Meeting of IORA: The 23rd COM Meeting of IORA was held in Colombo, Sri Lanka hosted by the Government of Sri Lanka. The meeting was held under the theme “Strengthening Regional Architecture: Reinforcing Indian Ocean Identity”. About Sri Lanka: Prime Minister– Dinesh Gunawardena Capital– Colombo (executive and judicial capital); Sri Jayawardenepura Kotte (legislative capital) Currency– Sri Lankan Rupee
Army Chief Presents the President’s Colours to 3rd Battalion of Naga Regiment General Manoj Pande, the Chief of Army Staff presented the ‘President’s Colours’(represented by a flag) to the 3rd Battalion of the Naga Regiment during the Colour presentation parade held at Kumaon Regimental Centre, Ranikhet, Uttarakhand. It was received by Col Lalit Chandra Kandpal, the Commanding Officer of the 3rd Battalion of the Naga Regiment.
The President’s Colour, also called ‘Nishan’, is bestowed upon a military unit in recognition of exceptional service rendered to the country, both in peace and in war.
The Naga regiment’s 3rd battalion was created on October 1, 2009, in Haldwani, situated in the Kumaon Hills, which were home to the Kumaon and Naga regiments.
The first battalion of the Naga Regiment was raised in Ranikhet in 1970.
The Naga regiment’s 3rd battalion has received one Vishisht Seva Medal, 11 COAS (chief of Army Staff) commendation cards, 12 VCOAS (vice-head of Army Staff) commendation cards, 37 GOC-in-C commendation cards, and one force commander (UN Mission) commendation card since its formation.
Note: Indian Navy was the first Indian Armed Force, to be awarded the President’s Colour by then President Dr Rajendra Prasad on 27 May 1951.
SAC ISRO Signed MoU with NavTech for Optical Wireless Communication Using LiFi TechnologyThe Ahmedabad (Gujarat) based Space Applications Centre (SAC), under Indian Space Research Organization (ISRO), has signed a 3-year Memorandum of Understanding (MoU) with Ahmedabad-based Nav Wireless Technologies Pvt Ltd (NavTech), a leading pioneer in Light Fidelity (LiFi) technology, to use light-based high-speed communication for satellite communication in space.
The partnership was recommended by the Department of Telecommunications under the Ministry of Communication.
NavTech is the 1st company in India to provide the LiFi technology to SAC (ISRO).
LiFi Technology: i.It operates by transmitting data through a spectrum of light beams, making it suitable for both indoor and outdoor environments offering ultra-fast data connections. ii.It proves particularly beneficial in urban areas with crowded radio spectrums and rural regions lacking fiber optic networks. About the partnership: i.SAC, a major center of ISRO in partnership with NavTech aims to facilitate high-speed secure quantum key communication from base stations to satellites in space and terrestrial communication. ii.Using the LiFi technology, SAC/ISRO will facilitate Quantum Key Distribution (QKD) and Pointing Acquisition and Tracking (PAT) in satellite-to-satellite communications during ISRO’s upcoming space exploration missions. iii.This collaboration represents a significant shift in space communication technology, leveraging optical wireless technologies over traditional Radio Frequency (RF) systems.
Space agencies have already started using optical wireless technologies instead of RF for space communication.
NavTech’sLiFifor 5G and Rural Connectivity in India: i.By positioning itself as the sole registered entity in India committed to LiFi research, NavTech has solidified its role as a leading authority in the field. ii.NavTech has demonstrated the most practical solution for the seamless integration of 5G services and the effective implementation of BharatNet rural connectivity, utilising the potential of Optical Wireless Communications (OWC). About Space Applications Centre (SAC): Director– Nilesh M. Desai Headquarters– Ahmedabad, Gujarat Established in– 1972
Indian Army Establishes first-ever BSNL BTS on World’s Highest Battlefield Siachen Glacier The Indian Army (Siachen Warriors) in collaboration with Bharat Sanchar Nigam Limited (BSNL) has installed the first-ever BSNL Base Transceiver Station (BTS) on the world’s highest battlefield, ‘Siachen Glacier’ in Ladakh.
The tower was inaugurated on 6th October 2023 and will provide mobile communication services to soldiers at an altitude of over 15,500 feet.
A radio transceiver that links mobile devices to a cellular network is known as a base transceiver station(BTS).
BTS sends and receives radio signals from mobile devices before converting them to digital signals that are subsequently directed to other network devices or the Internet.
The Indian Army also conducted demining operations in three areas(Phobrang, Yourgo, and Lukung village) along the Line of Actual Control (LAC) in the Leh district of Ladakh and destroyed 175 mines.
REC Signs MoU with NICSI for ICT and Digital Transformation Services The REC Limited (formerly Rural Electrification Corporation Limited) has signed a Memorandum of Understanding (MoU) with National Informatics Centre Services Inc. (NICSI) for various Information and Communications Technology (ICT) and Digital Transformation Services.
This MoU will support the REC ecosystem by fostering the development of cutting-edge technologies in areas like the Internet of Things (IoT), Artificial Intelligence, Machine Learning, Data Analytics, Blockchain, and Cyber Security.
The collaboration with NICSI will allow REC to provide end-to-end NIC/NICSI Software product deployment, hosting, core roll-out, technical support, security, services, and system administration.
Note: REC, a ‘Maharatna’ company under the Ministry of Power is a Non-Banking Financial Corporation (NBFC) focusing on Power Sector Financing and Development across India. NICSI comes under the National Informatics Centre (NIC) of the Ministry of Electronics & Information Technology
India’s Raunak Sadhwani Wins World Junior Rapid Chess Championship 2023 TitleIndia’s GrandMaster(GM) Raunak Sadhwani won the FIDE World Junior Rapid Chess Championship 2023 title in the open category. He also secured second place(Silver Medal) in the FIDE World Junior Blitz Championship 2023 in the open category.
The inaugural edition of the Federation Internationale des Echecs/International Chess Federation (FIDE) World Junior Under 20(U-20) Rapid & Blitz Championships was held from 9th to 16th October 2023 in Pula(Sardinia), Italy.
Woman Grandmaster (WGM) Govhar Beydullayeva of Azerbaijan won the FIDE World Junior Girls U20 Rapid Chess Championship 2023 title.
GM Mahammad Muradli of Azerbaijan won the FIDE World Junior Blitz Championship title.
WIM Xeniya Balabayeva of Kazakhstan won the FIDE World Junior Girls U20 Blitz Championship title.
The Indian team won the 3rd Intercontinental Online Chess Championship for Prisoners in the youth section by defeating the defending champions Serbia in the final.
About Federation Internationale des Echecs/International Chess Federation (FIDE): President – Arkady Dvorkovich Headquarters – Lausanne, Switzerland Established – 1924
World Migratory Bird Day 2023 – October 14The United Nations (UN)-backed biannual campaignWorld Migratory Bird Day (WMBD) is celebrated across the globe on 2 peak days of a year, 2nd Saturday of May (In the spring) and October (in the fall).
It is a day to raise awareness about the importance of migratory birds, their ecological importance, and the need for international cooperation to protect them and their habitats.
WMBD 2023 falls on the 13th of May and the 14th of October 2023.
WMBD 2022 was observed on the 14th of May and 8th of October 2022 and the WMBD 2024 will be observed on the 11th of May and 12th of October 2024.
The theme/Campaign Sloganof WMBD 2023 is, “Water: Sustaining Bird Life“.
WMBD 2023 campaign focused on Water and its importance to migratory birds, and the increasing threats to both water quality and quantity.
The annual observance of the WMBD is led by the United Nations Environment Programme (UNEP), the leading global authority on the environment in the UN system. Background: i.International Migratory Bird Day (IMBD), now World Migratory Bird Day (WMBD), was originally created in 1993 by visionaries at the Smithsonian Migratory Bird Center, USA. ii.From 1995 to 2006, the WMBD program was under the direction of the National Fish and Wildlife Foundation (NFWF) and the U.S. Fish and Wildlife Service. iii.In 2006, WMBD was jointly initiated by the 2 UN Wildlife treaties, the Secretariat of the Agreement on the Conservation of AEWA, and CMS, and in 2007, WMBD also joined forces with EFTA. iv.On the occasion of its 10th anniversary in 2005, the AEWA Secretariat initiated the Migratory Waterbird Days (MWD) which were held in Africa, Europe, and parts of Asia. v.The first-ever WMBD was launched by AEWA and CMS on the weekend of 8-9 April 2006 on the wildlife reserve ‘Ole Ari Nyiro’ in Laikipia, Kenya.
World Standards Day 2023 – October 14World Standards Day (WSD) also known as International Standards Day is annually observed across the globe on October 14 to educate consumers, policymakers, and businesses about the value of standardisation. i.The theme of World Standards Day 2023 is “Shared Vision for a Better World – Standards for Sustainable Development Goals(SDG)”. ii.The first World Standards Daywas formally observed on 14th October 1970 by Faruk Sunter, then president of International Organization for Standardization (ISO). About International Organization for Standardization (ISO): President – Ulrika Francke Headquarters – Geneva, Switzerland Established in – 1947 About International Telecommunication Union (ITU) Secretary-General – Doreen Bogdan-Martin Headquarters – Geneva, Switzerland Established in – 1865
International Day of Rural Women 2023- October 15The United Nations (UN) International Day of Rural Women is annually observed across the globe on 15 October to recognise the critical role and contribution of rural women, including indigenous women, in enhancing agricultural and rural development, improving food security, and eradicating rural poverty.
The theme of International Day of Rural Women 2023 is “Rural Women, Women with Rights”.
Background: i.The International Day of Rural Women was created in 1995 by Civil society organizations at the 4th World Conference on Women in Beijing, China. ii.On 18 December 2007, the United Nations General Assembly (UNGA) adopted the resolution A/RES/62/136 and declared the 15th of October of every year as the International Day of Rural Women. iii.The first-ever International Day of Rural Women was observed on 15 October 2008.
Global Handwashing Day 2023 – October 15 The Global Handwashing Day is annually observed across the world on October 15 to raise awareness about the importance of handwashing with soap and water as a way to prevent disease.
15th October 2023 marks the observance of 16th Global Handwashing Day.
i.The theme for Global Handwashing Day 2023 is “Clean Hands Are Within Reach.” ii.Global Handwashing Day was initiated by the Global Handwashing Partnership (GHP) in August 2008 at the annual World Water Week in Stockholm, Sweden. iii.The first Global Handwashing Day was celebrated on 15th October, 2008.
CM Naveen Patnaik launched the 1st phase of LAccMI YojanaOdisha Chief Minister(CM) Naveen Patnaik has launched Location Accessible Multimodal Initiative (LAccMI) scheme in Malkangiri district of Odisha.
LAccMI was announced in the Odisha State budget 2023-24.
The scheme, aims to offer reliable and affordable public transit (bus service) throughout odisha, with a focus on rural areas.
Background: About LAccMI: i.LAccMI aims to connect gram panchayats with the Bhuvaneshwar (capital of Odisha) through public transportation system. ii.The project is implemented in Odisha with a budget of Rs 3,178 crore over the next three years, from 2023-24 to 2025-26. iii.The LAccMI bus service will be launched in rural areas of six tribal-dominated and remote districts of Odisha such as Malkangiri, Koraput, Nabarangpur, Rayagada, Kalahandi, and Gajapati. iv.In first phase, a fleet of 36 buses will ply between panchayats and blocks headquarters and between blocks to districts and Bhubaneswar.
The buses will connect 111 gram panchayats in Malkangiri district
Israel-Hamas war: India launched ‘Operation Ajay’ to evacuate Indian nationals from IsraelOn 11 October 2023, the Ministry of External Affairs (MEA), Government of India (GoI) launched ‘Operation Ajay’, a repatriation operation, to bring back Indian citizens from Israel amid the ongoing 2023 Israel–Hamas War.
This operation aims to assist Indian citizens in Israel who wish to return to Inida.
Background: i.2023 Israel-Hamas War is the conflict between Israel and Palestinian militant groups led by Hamas ii.The conflict started on 7th October 2023 when the Gaza-based Hamas militants invaded Israel from the Gaza Stripa. iii.The operation Ajay was launched after Air India and other airlines suspended all its commercial operations to and from Israel as the war began on October 7. Note: According to estimates, around 18,000 Indians (including students and caregivers) are currently residing in Israel. Operation Ajay: i.To facilitate the operation, special charter flights have been organized to transport Indian citizens from Israel to India. iii.The Indian Embassy has emailed the first batch of registered Indian citizens, marking the beginning of the repatriation process. Messages for these subsequent flights will be sent out in due course. Proactive measures: i.Prior to launching ‘Operation Ajay,’ MEA established a 24-hour control room to help monitor the situation and provide information and assistance. ii.The control rooms will assess the number of Indian nationals in Israel and Palestine, their current location, and their willingness to move out of those places. Dedicated Helplines: i.The Indian Embassy in Tel Aviv (Israel) set up a 24-hour emergency helpline. ii.India’s Representative Office in Ramallah (Palestine) also set up a 24-hour emergency helpline. iii.The embassy also reminded Indian nationals in Israel to register with the embassy at the link: https://indembassyisrael.gov.in/whats?id=dwjwb. Other Evacuation Processes of India: Operation Kaveri (2023): It is a rescue operation launched by the GoI on April 24, 2023, in response to the crisis in Sudan to evacuate Indian citizens who are stranded in Sudan. Operation Dost (2023): i.It was launched to bring back stranded Indian citizens following the massive earthquake that hit Türkiye and Syria on February 6, 2023. ii.It was launched to provide necessary support in terms of search and rescue (SAR) efforts as well as medical assistance. Operation Ganga (2022): It is the initiative launched by the GoI to bring back Indians stranded in Ukraine, following the Russian invasion of Ukraine. Operation Devi Shakti (2021): It was carried out by the Indian Air Force (IAF) to bring back Indians safely from Afghanistan after the collapse of the Islamic Republic of Afghanistan and the fall of Kabul (The capital of the Taliban). Operation Samudra Setu (2020): Indian government launched an unprecedented repatriation programme during the COVID-19 pandemic, to bring back Indian citizens stranded in foreign countries.
It is considered one of the largest civilian repatriation exercises by any country.
About Israel: Capital– Jerusalem Prime Minister– Benjamin Netanyahu Currency– the new Israeli Shekel (NIS or ILS)
Indian Space Conclave 2023 held in Delhi; ISpA & France’s GIFAS Inked MoU to Boost Space IndustryFrom October 9 to 11, 2023, the 2nd edition of annual Indian Space Conclave (ISC 2023) was held at Manekshaw Centre in New Delhi, Delhi. The conclave was organized by Indian Space Association (ISpA).
It was co-hosted by Indian National Space Promotion and Authorization Centre (IN-SPACe), an autonomous agency in the Department of Space (DOS).
The theme of ISC 2023 is ‘Bhumandal se Brahaman Tak’ (From Earth to the Entire Universe)’.
On the first day of ISC 2023, ISpA and GIFAS (Groupement des Industries Françaises Aéronautiques et Spatiales) signed a Memorandum of Understanding (MoU) to enhance the understanding of space industry capabilities and increase awareness of business opportunities in France and India About Indian Space Association (ISpA): Director General– Lt Gen Anil Kumar Bhatt (Retd) Headquarters– New Delhi, Delhi Establishment– 2021
Union Minister Mansukh Mandaviya Inaugurates New Facilities at NIMHANS & unveils New Logo of Tele-MANASUnion Minister Mansukh Mandaviya,Ministry of Health and Family Welfare(MoHFW) inaugurated new facilities at the National Institute of Mental Health and Neuro Sciences (NIMHANS) in Bengaluru, Karnataka and launched the new logo of Tele Mental Health Assistance and Networking Across States (Tele MANAS)
These events happened on the occasion of 31st World Mental Health Day which was observed on 10th October 2023.
New facilities at NIMHANS: The new facilities at NIMHANS include the Platinum Jubilee Auditorium and Academic facility, the New Administrative Office complex, and the Centre for Brain and Mind. About NIMHANS: i.NIMHANS is a premier medical institute in India for mental health care, education, and research. ii.NIMHANS came into existence in 1974 by amalgamating Mysore Government Mental Hospital and All India Institute of Mental Health. iii.Through the National Institute of Mental Health and Neuro Sciences, Bangalore Act, 2012, NIMHANS attained the status of Institutes of National Importance(INI). About Tele MANAS: i.Tele manas is a national tele-mental health program which aims to provide mental health to all because it is a universal human right. ii.It was announced in Union Budget 2022-23 and launched in October 2022. iii.It functions under Ministry of Health & Family Welfare(MoH&FW). iv.Digital technology can be employed to make healthcare more accessible to everyone. Award: i.The Union Minister awarded the top three states in India with the highest number of calls to the programme, ranking them as follows: Tamil Nadu, Maharashtra, and Uttar Pradesh. ii.Under smaller states category Telangana, Jharkhand, and Kerala were awarded whereas Assam, Mizoram and Manipur received awards in the North East category iii.Jammu and Kashmir, Delhi and Dadra and Nagar Haveli and Daman and Diu were awarded in the Union Territories category. Why Tele Manas? i.The National Mental Health Survey, published in 2015-16, revealed that 10% of the population is affected by mental health problems.
This highlights the significant impact that mental health has on individuals, society, and the economy.
ii.The survey was supported by MoH&FW and implemented by NIMHANS. iii.More than 3.5 lakh people have received councelling through the program.
MWCD Launched Protocol for Management of Malnutrition in Children for Management ofMalnutrition in ChildrenUnion Minister Smriti Zubin Irani, Ministry of Women and Child Development (MoWCD) launched a new standardisedProtocol for Management of Malnutrition in Children (Protocol)during a national event “Suposhit Bharat – Sashakt Bharat” at Vigyan Bhawan, Delhi, to fight malnutrition in children in India.
It is the first-ever national protocol for the Management of Malnutrition in Children.
The Protocol has been jointly prepared by the MoWCD Development and the Ministry of Health and Family Welfare (MoHFW).
This is a part of the efforts of MoWCD to reduce malnutrition through Mission Saksham Anganwadi and Nutrition 2.0.
About Ministry of Health and Family Welfare (MoHFW): Union Minister– Mansukh Mandaviya (Rajya Sabha Gujarat) MoS– Dr. Bharati Pravin Pawar (Constituency- Dindori, Maharashtra)
Union Minister Arjun Munda Inaugurated AadiMahotsav in Jharkhand On 7th October 2023, Union Minister Arjun Munda, Ministry of Tribal Affairs(MoTA) inaugurated “Aadi Mahotsav” – the National Tribal Festival, organised by Tribal Cooperative Marketing Development Federation of India Limited (TRIFED), at Jamshedpur, Jharkhand.
The event will be held from 7th to 16th October 2023 commemorating the celebration of Azadi Ka Amrit Mahotsav.
Aadi Mahotsav: i.Aadi Mahotsav is an annual initiative of MoTA to celebrate tribal entrepreneurship, crafts, culture, cuisine, commerce and traditional art. ii.It is a crucial platform for showcasing the rich and diverse heritage of India tribes to a national and international audience. iii.The 2023 Aadi Mahotsav will showcase the talents of 336 tribal artisans and artists, including members of Particularly Vulnerable Tribal Groups (PVTGs) and Van Dhan Vikas Kendra (VDVK) beneficiaries.
The festival will feature 30 stalls from Jharkhand artisans, 11 VDVK stalls, and 5 cuisine stalls. It will also showcase 68 stalls from artisans from other states, including 15 cuisine stalls.
Key People: Bidyut Baran Mahato, Member of Parliament (MP) of Lok Sabha(Jamshedpur), Chanakya Chaudhury, Vice President Corporate Services at Tata Steel and Geetanjali Gupta IAS, Managing Director (MD) of TRIFED were present during the event.
Global Hunger Index 2023: India slips Four places, Ranked 111 out of 125 countriesIndia ranks 111th out of the 125 countries with a score of 28.7 in Global Hunger Index(GHI) 2023. India slipped 4 positions as compared to previous GHI ranking.
GHI is a peer-reviewed annual report designed to comprehensively measure and track hunger at the global, regional, and country levels.
As per the GHI Severity of Hunger Scale, the country’s score in the range of 20.0–34.9 indicates that has a serious level of hunger. So with a score of 28.7, India has a level of hunger that is serious.
India has the highest child wasting rate of 18.7 percent in the world, which reflects acute undernutrition.
The ranks of India’s neighbouring countries are Pakistan (102th), Bangladesh (81st), Nepal (69th), and Sri Lanka (60th).
Europe and Central Asia region have the lowest 2023 GHI score of 6.0 with an indication that the hunger level is ‘low’.
RBI Cancels CoR of Ind Bank Housing Ltd; Imposes Rs 5.39cr penalty on Paytm Payments BankThe Reserve Bank of India (RBI) has cancelled the Certificate of Registration (CoR) Chennai, Tamil Nadu (TN) based Ind Bank Housing Ltd, a Housing Finance Company (HFC) w.e.f. September 21, 2023.
In this regard, it cannot transact the business of Housing Finance Institution and a Non-Banking Financial Institution (NBFC) as defined in National Housing Bank (NHB) Act, 1987 and RBI Act, 1934, respectively.
This decision has been taken by RBI in exercise of its powers conferred on it under Section 29A (6) of the NHB Act, 1987.
Note:Set up in 1991, Ind Bank Housing Ltd’s major shareholders were Indian Bank and HUDCO (Housing and Urban Development Corporation Ltd) with 51% and 25% stake, respectively. RBI imposes Rs 5.39 crore penalty on Paytm Payments Bank On October 12, 2023, the Reserve Bank of India (RBI) imposed a monetary penalty of Rs 5.39 Crore on PaytmPayments Bank Limited (PPBL) in exercise of its powers conferred under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation (BR) Act, 1949.
This penalty will not affect any transaction or agreement entered into by the bank with its customers.
Reason behind this Penalty: The penalty was imposed due to non-compliance with certain provisions of, i.Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016 ii.RBI Guidelines for Licensing of Payments Banks’ read with ‘Enhancement of maximum balance at end of the day iii.Cyber security framework in banks’ read with ‘Guidelines on reporting of unusual cyber security incidents iv.Securing mobile banking applications including UPI ecosystem Background: RBI conducted special scrutiny and system audit of PPBL which identified non-compliance, including failure to identify beneficial owners, lack of payout transaction monitoring, breaching regulatory limits, delayed reporting of cyber incident, and inadequate cybersecurity measures. Thereafter, bank received a notice to explain non-compliance and potential penalty imposition.
SIDBI & IPPB inked MoU for Financial Support to MSMEs in Remote AreasIndia Post Payments Bank (IPPB) has signed an agreement with Small Industries Development Bank of India (SIDBI) to extend financial and other support services to MSMEs (Micro, Small & Medium Enterprises) in rural and remote areas.
SIDBI provides credit to small businesses, while IPPB provides banking transaction services.
It should be noted that Payments banks are not allowed to provide credit but can partner with other institutions for distribution.
Signatories: It was signed by SivasubramanianRamann, Chairman and Manaing Director (CMD) SIDBI; and JayanthyVenkatramu, MD (Managing Director) & CEO (Chief Executive Officer), IPPB. Key Points: i.This partnership will utilize IPPB’s rural reach and SIDBI’s lending and credit risk assessment models to reach MSMEs. ii.IPPB will also support SIDBI’s customers in digitizing the payment mechanisms through its merchant onboarding system and collection solutions like Unified Payments Interface (UPI), QR-based solutions, etc. iii.They will also undertake joint programs to upgrade the skills of Dak Sevaks. iv.Both entities also announced a hackathon for innovation in financial services in rural areas and also a Swavalamban Challenge Fund to promote rural livelihood enterprises. About India Post Payments Bank (IPPB): MD & CEO– Jayanthy Venkatramu Headquarters– New Delhi, Delhi Establishment– 2018 Motto – ‘Every customer is important, every transaction is significant and every deposit is valuable, no matter the value.
ICICI Bank introduces ‘iFinance’, a One-Stop for Viewing Savings and Current Accounts Across Banks ICICI Bank Limited has launched a new feature called iFinance, which allows customers-retail and sole proprietors, to get a consolidated view of their savings and current accounts across banks in a single place. This facility is also extended to customers of other banks.
ICICI bank leverages the Account Aggregator(AA) ecosystem to enable users to link their accounts.
This feature is available on ICICI Bank’s digital platforms, namely iMobile Pay application, Retail Internet Banking (RIB), Corporate Internet Banking (CIB) and InstaBIZ(Business Banking Mobile Application).
Features of iFinance: i.‘iFinance’ provides a single-view dashboard of all accounts. ii.It offers a facility to get a summary of their income and category wise information of their expenditure. iii.It allows users to link and de-link accounts on real-time basis iv.It also provides consolidated account statement(s) of all linked Bank accounts. Account Aggregator(AA): i.An Account Aggregator (AA) is a Non-Banking Financial Company (NBFC) regulated by the Reserve Bank of India (RBI). ii.It helps people securely and digitally access and share information from one financial institution they have an account with to any other regulated financial institution in the AA network. About ICICI Bank Limited: Managing Director(MD) and Chief Executive Officer (CEO) – Sandeep Bakhshi Headquarters – Mumbai, Maharashtra Established in – 1994 Tagline – Hum Hai Na Khayal Apka
IAF & Army successfully test fired BrahMos Missile Indian Air Force(IAF) successfuly test fired its Surface to Surface version of the BrahMos missile in the vicinity of the Eastern Seaboard Archipelago. The test mission accomplished all the predefined objectives. Previously, BrahMos Missile Regiment of Indian Army tested a land-attack variant of the extended-range BrahMos supersonic cruise missile (BrahMos ER) from the Andaman and Nicobar Islands.
The missile is not yet in service with the Indian Army, and its induction will depend on the results of further testing.
About BrahMos ER: i.The BrahMos ER is developed by BrahMos Aerospace
It is a joint venture between Russia’s NPO Mashinostroyeniya (NPO Mash) and India’s Defence Research and Development Organisation (DRDO).
ii.BrahMos ER is an improved variant of the basic BrahMos missile, with a range of around 450 to 500 kilometers, compared to 290 kilometers for the baseline version.
Bufoides Bhupathyi: New Toad Species Discovered in the Dampa Tiger Reserve of MizoramResearchers from India and the United Kingdom have discovered a new toad species “Bufoides Bhupathyi” (Common name: Mizoram rock toad) in the the Dampa Tiger Reserve(TR) of Mizoram.
It is named after the S Bhupathy, a noted herpetologist who served as principal scientist at the Coimbatore(Tamil Nadu)-based Salim Ali Centre for Ornithology and Natural History(SACON).
The findings were published in Biodiversitas, a journal published in Indonesia.
Bufoides Bhupathyi belong to the ‘Bufonidae’ family and the genus ‘bufoides’. Both frogs and toads belong to the order “Anura”, which means “without a tail.
Note: Herpetologists are zoologists who specialize in the study of reptiles and amphibians. AboutBufoides Bhupathyi: i.Bufoides Bhupathyi was the third species of the genus ‘bufoides’. The other twoare “Bufoides meghalayanus” and “Bufoides kempi”, found in Meghalaya. ii.Th research work also indicated that ‘Bufoides Bhupathyi” to be included in the IUCN’s red list as critically endangered as it meets its criteria. iii.Distinct Features:Bufoides Bhupathyi is different from the co-generic (similar) species in interdigital webbing, colouration, skin tuberculation, and the presence of ovoid, tuberculated and depressed parotid glands. Background: i.In 2001, Bufoides meghalayanus were reported from Dampa tiger reserve and Ngengpui wildlife sanctuary in Mizoram. These are around 200 kilometers away from Mawblang, the type locality of B. meghalayanus. ii.International Union for Conservation of Nature(IUCN) assessed B. meghalayanus as Endangered as it occured at more than one location, including Dampa Tiger Reserve in Mizoram. iii.Later it was suggested that the populations of Bufoides found in Mizoram might represent a new species. iv.During the recent IUCN red list workshop, range of B. meghalayanus was restricted to 3 locations, all within 1.5 km from one another in Cherrapunjee, East Khasi Hills in Meghalaya and the species was reassessed as Critically Endangered.
A field surveys in Dampa Tiger Reserve studied the population of Bufoides resembling B. meghalayanus and assessed the systematic status of the Bufoides population in Dampa TR and describe it as new species “B. Bhupathyi”.
Nari Shakti Award Winner & Kerala Adult Literacy Topper Karthyayani Amma Passed Away Nari Shakti Award winner Karthyayani Amma, who topped Akshara Laksham project of Kerala’s adult literacy programme, passed away at the age of 101 in Alappuzha, Kerala. She was born in 1922.
In 2018, at the age of 96, Karthyayani Amma topped the Aksharalaksham (Million Letter) literacy examination of the Kerala State Literacy Mission securing the highest mark (98/100). She was the oldest learner under the Kerala State Literacy Mission.
i.In 2019, she was also appointed as the Goodwill Ambassador of the Commonwealth of Learning for the promotion of distance education among 53 member countries. ii.In 2020, she was awarded the Nari Shakti Puraskar, the highest civilian award for women, by the Ministry of Women and Child Development(MoWCD). Additional Info: i.In 2020, Bhageerathi Amma, a 105-year-old great-grandmother, became the oldest student to clear the 4-level education exam of the state literacy mission, with 74.5 per cent marks, beating Karthyayani Amma’s previous record. iii. During the 2023 Republic Day parade, Kerala government presented a tableau of “Nari Shakti and Folk Traditions of Women Empowerment” featuring Karthyayani.
TN Minister PTR Released “The Professionals’ Handbook to ChatGPT”, book on ChatGPT Palanivel Thiaga Rajan(PTR), Minister of Information Technology and Digital Services, Government of Tamil Nadu(TN) released “The Professionals’ Handbook to ChatGPT”, a book on ChatGPT for professionals in various field.
The book authored by Pattabhi Ram V and Dungar Chand U Jain was published by ReadWrite Productions.
The book covering around 27work areas will benefit finance professionals.
It provides practical advice on how to use ChatGPT to improve productivity and efficiency in the workplace.
ChatGPT: i.ChatGPT(Generative Pre-trained Transformer) is an Artificial Intelligence (AI) -powered language model developed by OpenAI and launched in November 2022. ii.This is a AI chatbot that uses natural language processing to create humanlike conversational dialogue.
OpenAI is an AI research and deployment company founded in 2015 and headquartered in San Francisco, California, United States of America(USA)
International Day for Disaster Risk Reduction 2023 – October 13The United Nations (UN) International Day for Disaster Risk Reduction (IDDRR) is annually observed across the globe on 13 October to promote a global culture of risk awareness and disaster reduction.
The day serves as a platform to recognise and celebrate the efforts of individuals and communities worldwide in mitigating disaster risks.
The 2023 theme of International Day for Disaster Risk Reduction is, “Fighting inequality for a resilient future.” Background: In 2009, the UNGA adopted the a resolution A/RES/64/200 and officially designated 13 October as the International Day for Disaster Risk Reduction.
Since 2010, IDDRR has been annually observed on 13 October.
About United Nations Office for Disaster Risk Reduction (UNDRR): Head of UNDRR– Mami Mizutori Headquarters– Geneva, Switzerland Established in– 1999
World Egg Day 2023 – October 13World Egg Day is annually observed across the globe on the 2nd Fridayof October to raise awareness of the importance of eggs in human nutrition, food security, and overall well-being.
The 27th World Egg Day (World Egg Day 2023) was observed on 13th October 2023.
The World Egg Day 2022 was observed on 14th October 2022. The World Egg Day 2024 will fall on 11th October 2024.
Theme: The theme for World Egg Day 2023 is “Eggs for a healthy future.”
India’s Natural Gas Demand to rise 4% in 2023: IEA ReportThe International Energy Agency (IEA) released its ‘Gas 2023 Medium-Term Market Report‘. As per it, India’s natural gas demand is expected to rise by 4% in 2023 calendar year and will continue to increase at an average annual rate of about 8% till 2026.
This growth will be driven by power, petrochemical and fertiliser sectors.
Key Points: i.India’s primary gas supply rising by 2% in the first eight months of 2023. ii.After a sharp 6% drop in 2022, India’s liquefied natural gas (LNG) imports rose by 8% in the first eight months of 2023 compared to the same in 2022. iii.In India, an increase of over 20 billion cubic metres (bcm) of natural gas is expected for 2022-2026 period. iv.Spot LNG prices fell below USD15 per metric million British thermal unit (MMBTU) threshold since June 2023 which led to increased demand from the industry and power sector. v.In April 2023, India commissioned the Dhamra LNG terminal, increasing its total regasification capacity by 10%.
Regasification is the process of converting the LNG back to its gaseous state by heating it, after which it is transported through pipelines.
Global Scenario: i.Global gas demand is expected to increase by 1.6% annually from 2022 to 2026, down from the previous average of 2.5% per year from 2017 to 2021. ii.Global LNG capacity is expected to expand by 25% between 2022 and 2026, iii.United States (US) will retain position as the world’s largest LNG exporter. iv.Overall gas demand Asia Pacific, Europe and North America is forecast to decline by 1% annually through to 2026. About International Energy Agency (IEA): Executive Director– Dr Fatih Birol Headquarters– Paris, France Establishment– 1974
DAHD Launched ‘A-HELP’ Programme to Empower Women and Signed MoU with NRLM at Jharkhand The Department of Animal Husbandry and Dairying (DAHD) under the Ministry of Fisheries, Animal Husbandry and Dairying(MoFAHD) launched the ‘A-HELP’ (Accredited Agent for Health and Extension of Livestock Production) program in Jharkhand.
The initiative was launched through a Memorandum of Understanding (MoU) between DAHD and National Rural Livelihoods Mission (NRLM) under the Ministry of Rural Development (MoRD).
Badal Patralekh, Minister of Agriculture, Animal Husbandry & Co-operative, Govt. of Jharkhand was the chief guest of the launch programme.
About A-HELP: i.Aim: To empower women by engaging them as Accredited Agents who contribute to essential tasks such as disease control, animal tagging, and livestock insurance. ii.A-HELP will enhance access to veterinary services at farmers’ doorsteps, empowering ‘Pashu Sakhis’. This will serve as an integration of women’s empowerment, and fostering socio-economic advancement. iii.A-HELP will effectively bridge the gap between local veterinary institutions and livestock owners, provide primary health services, and act as both a Livestock Resource Person and a Primary Service Provider. iv.A-HELP has already been initiated across 6 states including Bihar, Gujarat, Karnataka, Madhya Pradesh, Uttarakhand, and Jharkhand, and one Union Territory (UT) Jammu and Kashmir(J&K).
RBI to Apply PCA Supervisory Guidelines to Government-Owned NBFCs Starting October 2024;RBI Instructs BoB to Stop Customer Onboarding on Mobile AppThe Reserve Bank of India (RBI) announced that it will apply strict supervisory norms under the Prompt Corrective Action (PCA) Framework to government-owned Non-Banking Financial Companies (NBFCs) starting from October 2024. This move has significant implications for these government-owned NBFCs.
Major government-owned NBFCs that will be subject to the PCA Framework include entities like Power Finance Corporation (PFC), Rural Electrification Corporation (REC), Indian Railway Finance Corporation (IRFC), and Industrial Finance Corporation of India (IFCI).
i.Application of PCA to Government-Owned NBFCs: RBI has decided to extend the PCA framework to all deposit taking government NBFCs and non-deposit taking government NBFCs in middle, upper and top Layers (excluding base layer) with effect from October 1, 2024.
This extension is based on the audited financials of the NBFC as of March 31, 2024, or subsequent dates.
ii.The Reserve Bank of India, under section 35A of the Banking Regulation Act, 1949, has ordered Bank of Baroda to immediately suspend the process of adding more customers to the ‘bob World’ mobile application.
Unemployment rate at 6-year low of 3.2% in 2022-23: 6th NSSO Annual PLFSi.On October 9, 2023, the National Sample Survey Office (NSSO), Ministry of Statistics and Programme Implementation (MoSPI) released the 6th Annual Report ‘Periodic Labour Force Survey (PLFS) [July, 2022 – June, 2023]’ stating Unemployment rate (UR) at 6-year low of 3.2% in 2022-23 under the Usual Status (ps+ss). It was 6% in 2017-18. ii.The UR in Current Weekly Status (CWS) decreased to 5.1% in 2022-23. It was 8.7% in 2017-18 iii.The UR under the Usual Status during the one-year period declined for the 5th consecutive year since it was launched in April 2017 while under CWS it decreased for the 3rd consecutive year since April 2017. iv.The 6th annual report by NSSO is premised upon the PLFS conducted during July 2022-June 2023. v.At all India level, Labour Force Participation Rate (LFPR) increased to 57.9% in 2022-23 from 55.2% in 2021-22 under Usual Status (ps+ss). About Ministry of Statistics and Programme Implementation (MoSPI): Minister of State (Independent Charge)– Rao Inderjit Singh (Constituency- Gurugram, Haryana) Secretary– DR. G P Samanta
Skyroot Signs Two MoUs with French Space Firms to Launch SatellitesSkyroot Aerospace Private Limited, a Hyderabad (Telangana) -based space startup, has signed two memoranda of understanding (MoUs) with two France-based Space firms Promethee Earth Intelligence and ConnectSAT.
The satellites of the French space firms are set to be launched on Vikram-I of the Skyroot.
About the MoU with Promethee: i.Skyroot signed an MoU with Promethee to launch its Japetus earth observation constellation onboard Skyroot’s Vikram rockets.
The MoU was signed by Olivier Piepsz, Co-Founder and CEO of Prométhée, and Co-Founders of Skyroot Aerospace, Pawan Chandana and Bharath Daka.
Skyroot’s Vikram launch vehicles were an ideal choice due to the specific orbital requirements required by 50% of Prométhée’s satellites.
About the MoU with ConnectSAT: i.Skyroot signed a trilateral MoU with ConnectSAT and Expleo to launch ConnectSAT’s OSIRIS satellite constellation onboard Skyroot’s Vikram rockets.
As part of the MoU, Expleo provides reconfigurable software for ConnectSAT’s Internet of Things (IoT) satellite.
The OSIRIS satellite constellation is built for various social applications and monitoring and surveillance solutions.
The trilateral MoU was signed by Abdoulahi Ben Moussa Dia, Chief Executive Officer (CEO) of ConnectSAT, Frédérique Rebout, Director Alliances and Partners at Expleo, and Co-Founders of Skyroot Aerospace, Pawan Kumar Chandana and Naga Bharath Daka.
About Skyroot Vikram series rockets: i.Skyroot launched India’s first privately-built rocket ‘Vikram-S’ under the mission “Mission Prarambh” (the beginning) in 2022.
Vikram-S is a single-stage solid-fuelled sub-orbital rocket capable of carrying an 80 kg payload.
Vikram rocket was named after Vikram Sarabhai, founder of the Indian Space Program.
ii.Vikram series rockets are modular Space launch vehicles especially crafted for carrying small satellites and developed using advanced technologies including 3D printing, and carbon composite bodies.
About Vikram-I: The Vikram-I rocket is capable of carrying a load of up to 480 Kilograms (kg) into 500 Kilometre (km) the Low Earth orbit (LEO) and a load of 290 kg into a 500 km Sun Synchronous Polar Orbit (SSPO).
About Vikram-II: The Vikram-II is capable of carrying a load of up to 595 kg into 500 km of the LEO and a load of 400 kg into a 500 km SSPO.
About Vikram-III: The Vikram-III is capable of carrying a load of up to 815 kg into 500 km of the LEO and a load of 560 kg to 500 km SSPO.
About Skyroot Aerospace Private Limited: Co-founder and Chief Executive Officer (CEO)– Pawan Kumar Chandana Headquarters– Hyderabad, Telangana Established in – 2018
HDFC AMC’s Navneet Munot elected as Chairman of AMFI; Anthony Heredia elected as Vice ChairmanNavneet Munot, Managing Director (MD) and Chief Executive Officer (CEO) of HDFC Asset Management Co. Ltd (AMC), has been elected as the Chairman of Association of Mutual Funds in India (AMFI). He will take charge as chairman on 16th October 2023, succeeding A Balasubramanian, MD & CEO of Aditya Birla Sun Life Asset Management Co. Ltd. Note:
The election took place at the 28th Annual General Meeting (AGM) of AMFI in September 2023.
AMFI is a nodal association of mutual funds across India.
Anthony Heredia Elected Vice Chairman of AMFI: Anthony Heredia, MD, and CEO of Mahindra Manulife Mutual Fund, was elected as Vice Chairman of AMFI.
He will take charge on 16th October 2023, succeeding Radhika Gupta, MD & CEO of Edelweiss Asset Management Ltd.
About NavneetMunot: i.He has been serving as MD and CEO of HDFC AMC since 2021 and has over 3 decades of experience in the financial service. ii.Previously, he served as Executive director and Chief Investment officer(CIO) of SBI Funds management Private Limited. He also served as the Director on the board of SBI Pension Funds (P) Limited. iii.He was the Executive Director and Head ( multi-strategy boutique) at Morgan Stanley Investment Management briefly for a year in 2007. iv.He has also served as the Chief Investment Officer – Fixed Income and Hybrid Funds at Birla Sun Life Mutual Fund. v.He is also the chairman of the Indian Association of Investment Professionals(IAIP). About Anthony Heredia: i.Anthony Heredia has been serving as MD and CEO of Mahindra Manulife Mutual Fund since 2022 and has over 26 years of experience in the investment management industry. ii.He served as the MD of Morgan Stanley Investment Management, CEO & Whole Time Director of Baroda Asset Management India Limited. iii.He has also served as the CEO of Bank of India Investment Managers Private Limited (formerly BOI Star Investment Managers Private Limited/ BOI Axa Investment Managers Pvt. Ltd). About Association of Mutual Funds in India (AMFI): CEOs– N. S. Venkatesh and Balkrishna Kini Headquarters– Mumbai, Maharashtra Incorporated on– August 22, 1995 AMFI is the association of all the AMCs of the Securities and Exchange Board of India (SEBI) registered mutual funds in India. As of now, all the 44 AMCs that are registered with SEBI, are its members.
Kumar Sangakkara Appointed as New Chair of MCC’s World Cricket Committee The Marylebone Cricket Club (MCC) has appointed former Sri Lankan Cricket Captain Kumar ChokshanadaSangakkara as the new Chair of MCC’s World Cricket Committee(WCC).
He will succeed former England captain MikeGatting, who has held the post since 2017.
Kumar Sangakkara is currently the Director of Cricket and the Head Coach of the Rajasthan Royals in the Indian Premier League (IPL).
He was awarded Honorary Life Membership of the Club, in 2011. In the same year, he joined MCC’s World Cricket committee and remains an active member.
He was appointed to represent the WCC on the MCC Committee in 2022.
He served as the President of the MCC from 2019-21; He became the 1st non-British President of MCC.
Former England Cricketer Mark Charles Jefford Nicholas will serve as the new President of MCC. He was elected to MCC membership in 1981. About MCC:
MCC’s World Cricket Committee, established in April 2006, is an independent body comprised of current and former international cricketers and umpires from across the globe.
WCC includes other exceptional cricketers such as Sourav Chandidas Ganguly (India), Heather Clare Knight(England), Justin Lee Langer(Australia), Eoin Joseph Gerard Morgan(England & Ireland) and Graeme Craig Smith(South Africa).
Maharashtra Deputy CM AjitPawar Resigned as Director of Pune District Central Cooperative Bank AjitPawar, Deputy Chief Minister (Dy CM) of Maharashtra, has resigned as a Director of the Pune District Central Cooperative Bank Ltd (PDCC) citing increase in workload after becoming Dy CM of Maharashtra.
DigambarDurgade, the President of PDCC has accepted Ajit Pawar’s resignation. Ajit Pawar has been a director of PDCC for 32 years since 1991.
He served as one of the directors on the board of 19 directors of PDCC.
In July 2023, he was sworn in as the 9th Dy CM of Maharashtra for an unprecedented 5th time (November 2010-September 2012; October 2012-September 2014; November 23-26, 2019; December 2019-June 2022; June 2023-present).
He is currently heading the Ministries of Finance and Planning as a cabinet-level Minister in the Maharashtra Govt.
In July 2023, Ajit Pawar split from the Nationalist Congress Party (NCP) led by Sharad Pawar and joined the Shiv Sena-Bharatiya Janata Party(BJP) government.
SBIFML Fund Gets RBI Approval to Acquire Upto 9.99% Stake in IndusInd BankSBI Funds Management Limited (SBIFML) has received the Reserve Bank of India(RBI)‘s approval to acquire up to a9.99% paid-up share capital in IndusInd Bank Limited.
This acquisition will allow the company to also hold 9.99% voting rights in the bank.
The approval has been granted with reference to the application made by SBIFML to RBI.
Condition in acquisition: i.The holding of SBIFML in IndusInd Bank should not exceed 9.99 % of the paid-up share capital or voting rights of the Bank at all times. ii.The RBI has given SBIFML one year time (till 10th October, 2024) to buy the shares of IndusInd Bank. Compliance: The approval granted by RBI is subject to compliance with
Relevant provisions of the Banking Regulation Act, 1949
RBI’s master direction and guidelines on the acquisition and holding of shares or voting rights in banking companies dated January 16, 2023
Provisions of the Foreign Exchange Management Act(FEMA), 1999
Regulations issued by the Securities and Exchange Board of India (SEBI).
About SBI Funds Management Limited (SBIFML): SBIFML is a joint venture between State Bank of India(SBI) and AMUNDI Asset Management through a wholly owned subsidiary Amundi India Holding. SBI holds 63% stake and AMUNDI Asset Management holds 37%. Managing Director(MD) & Chief Executive Officer(CEO) – Shamsher Singh Headquarters – Mumbai, Maharashtra Established in – 1987 About IndusInd Bank Limited(Ltd): Managing Director(MD) & Chief Executive Officer(CEO) – Sumant Kathpalia Headquarters – Mumbai, Maharashtra Established in – 1994 Tagline – We Make You Feel Richer
CCI Approved Acquisitions Involving Hitachi Astemo Ltd The Competition Commission of India (CCI) has approved the following acquisition involving Hitachi Astemo Limited(HAL), a Japanese public limited company that manufactures auto parts for automobiles and two-wheeled motor vehicles in India.
HAL was formed in 2021 by the merger of four Hitachi Automotive companies.
Acquisitions in HAL by JICC-01 : CCI approved the acquisition of 20% voting rights in HAL by JICC-01 Limited Partnership, along with certain control rights, board representation, and other rights.
The JICC-01 Limited Partnership, managed by JICC G.K., is a a wholly owned subsidiary of JIC Capital, Ltd.
JIC Capital is a wholly owned subsidiary of Japan Investment Corporation (JIC).
JIC was founded in 2018, is a sovereign wealth fund of the Government of Japan.
Acquisitions in HAL by HMCL: CCI approved the acquisition ofan additional 6.6% voting stake in HAL by Honda Motor Company Limited (HMCL). With this, 40% of the voting rights in HAL is held by HMCL.
HMCL is a Japanese public limited company that manufactures and sells automobiles, two-wheelers, power products, and auto parts in India.
Acquisitions of HAL in HAEMS: CCI approved the acquisition of 49% stake in Hitachi Astemo Electric Motor Systems (HAEMS) by HAL. With this HAL holds the 100% shareholdings of HAEMS.
HAEMS is a Japanese company that develops, manufactures, and sells motors for electric vehicles.
European’s First Private Rocket MIURA 1 SN1 was Launched by PLD SpaceThe first private suborbital European rocket MIURA 1 SN1 was launched by Spanish space company PLD Space.
The reusable rocket was launched fromEl Arenosillo Experimentation Centre (CEDEA) of Spanish National Institute for Aerospace Technology (INTA) in Huelva, Spain.
MIURA1 SN1: i.The rocket is of 12.5meters in length with a propellent system of Kerosene and Cryogenic liquid oxygen(KeroLOX) ii.The rocket has TEPREL-B Liquid Bi-propellant engine developed by PLD Space.
In 2021, it became the first KeroLOX rocket engine developed in Europe for space flights.
iii.The rocket had a Nominal payload mass of 100 kilograms. iv.The Miura-1 rocket has been named after a breed of fighting bull. Aim: i.The first flight of the MIURA 1 SN1 technology demonstrator aims to collect data about the flight performance of the rocket and its systems, ii.These data will be used to validate the design and technology of the MIURA 5 orbital launch vehicle which is planned to be launched in 2025. iii.The rocket also aims to conduct scientific research under microgravity conditions. About the launch: The launch also tested a technological device from the German Centre for Applied Space Technology and Microgravity (ZARM) under microgravity conditions. Significance: i.With this launch, Spain has now joined the elite club of nations that can launch rockets into space. ii.Spain has become the tenth country to reach space. Other nine countries are Russia, the United States of America(USA), France, Japan, China, India, Israel, Iran and North Korea. Additional info: Europe had relied on Ariane 5 (Europe’s largest rocket) for heavy payloads, Russia’s Soyuz rocket for medium payloads, and Italy’s Vega rocket for small payloads.
In July 2023, Ariane 5 was retired after its final launch from Kourou, French Guiana. Ariane 6’s entry is also delayed.
About PLD Space: Raúl Verdú & Raúl Torres are the Co-Founders of PLD Space. Co-Founder & Chief Executive Officer(CEO) – Raúl Torres Headquarters – Elche, Spain Established in – 2011
Sanskrit Scholar & Padma Shri Awardee Dahyabhai Karunashankar Shastri Passed AwayPadma Shri Awardee Dr. Dahyabhai Karunashankar Shastri, a renowned Indian Sanskrit scholar and founder of Brahmarshi Sanskrit Mahavidyalaya, Nadiad(Gujarat) , has passed away at the age of 98 in Nadiad, Gujarat. He was born on 26 February 1926 in Mehsana, Gujarat. About Dr.DahyabhaiKarunashankarShastri: i.Dr. Shri Dahyabhai Karunashankar Shastri was a distinguished Sanskrit scholar in India, holding titles like Vyakaranacharya, Sahitacharya, and Hindi Visharad. ii.From January 19, 1950, he was engaged in teaching at Petlad Political Sanskrit Mahavidyalaya school in Gujarat.
He served as both the school’s Principal and as an Inspector of the Gujarat State Sanskrit Department and retired in 1984.
iii.After retirement, he establishment of Shri Brahmarshi Sanskrit Mahavidyalaya College at Brahmarshi Sanskar Dham in Nadiad in 1995.
He is known as the pioneer of Brahmarshi Sanskrit Mahavidyalaya.
This unique institution featured a Sanskrit college, a well-equipped library, student hostels, a canteen, three temples and Matru-Ritu social service.
Awards: i.In 2000, Sandipani Gaurav Awards conferred Dr. Dahyabhai Karunashankar Shastri with one of its category awards named the “Brahmarshi Award“.
Brahmarshi Awards are given to the scholar who has done outstanding work in the field of Vedic literature since 1996.
ii.In 2016, he was awarded the ‘Padma Shri’ in the field of Literature and Education
First National Current Good Manufacturing Practices Day – 10th October 2023The inaugural National Current Good Manufacturing Practices(cGMP) Day was celebrated across India on 10th October 2023. The day aims to create awareness about the critical role of cGMP in the pharmaceutical industry, ensuring the quality and safety of medicinal products.
The theme of National cGMP Day 2023 is “cGMP: Transforming Healthcare”.
Background: i.Indian Drug Manufacturers’ Association (IDMA), under the guidance from the Ministry of Health and Family Welfare and Ministry of Chemicals and Fertilisers, initiated the plan to observe 10th October of every year as “National Current Good Manufacturing Practices Day” or “National cGMP Day”.
10th October 2023 marks the first ever National cGMP day.
ii.The idea of National cGMP Day was proposed by Girish Pai Kand, Coordinator at the Centre for cGMP, at Manipal College of Pharmaceutical Sciences (MCOPS), Manipal Academy of Higher Education (MAHE). Purpose: The day aims to empower the pharmaceutical industry to develop a culture of quality medicine production, which will improve patient safety. Why 10th October? On 10th October 1962, International Drug Regulators approved a framework which mandates drug manufacturers to scientifically prove that a medication will be safe and effective.
This approval is the aftermath of Thalidomide disaster.
What is Thalidomide disaster? i.The Thalidomide disaster was a major public health crisis that occurred in the late 1950s and early 1960s. ii.Thalidomide was a drug that was widely prescribed to pregnant women for morning sickness. iii.However, it was later discovered that Thalidomide caused severe birth defects, including missing or underdeveloped limbs. Events: i.The Inaugural National cGMP Day was celebrated in MAHE by conducting three symposiums, a mini workshop, and a panel discussion by industry experts. ii.The sessions also cover current trends in cGMP compliance, including recent international regulatory updates, products for global markets, and the future of cGMP compliance. GMP in India: i.In August 2023, MoH&FW had instructed pharmaceutical companies to comply with World Health Organization (WHO) Good Manufacturing Practices (GMP) standards to ensure the quality of their products for domestic use and export. ii.In July 2023, Schedule M of the Drugs and Cosmetics Rules, 1940, which specifies the requirements for Good Manufacturing Practices (GMPs), was upgraded to international standards. About Centre For Current Good Manufacturing Practices (cGMP): i.Centre for cGMP is the first of its kind pharmaceutical institute in India ii.It was established on 11th February 2021 in Manipal, Karnataka. iii.The centre is the brainchild of Girish Pai Kand.
World Arthritis Day 2023 – October 12World Arthritis Day(WAD) is annually observed across the globe on October 12 to raise awareness of Rheumatic and Musculoskeletal Diseases (RMDs) and its impact on people lives. The day also highlights the importance of early diagnosis and treatment.
12th October 2023 marks the observance of 28th WAD.
The theme of WAD 2023 is “Living with an RMD at all stages of life”. Background: i.World Arthritis Day was first established in 1996 by Arthritis and Rheumatism International (ARI). ii.The first WAD was celebrated on 12th October 1996 and the event has been held annually ever since. About the European Alliance of Associations for Rheumatology (EULAR): EULAR is the European umbrella organisation representing scientific societies, health professional associations and organisations for people with RMDs. President- Daniel Aletaha (Austria) Headquarters- Zürich, Switzerland Established in – 2000
World Sight Day 2023- October 12World Sight Day (WSD) is annually observed across the globe on the second Thursday of October to focus the world’s attention on eye health as a global issue and to recognise the work done by the thousands of ophthalmologists across the world to fix the problem of vision impairment.
World Sight Day is also known as ‘World Eye Day’ or ‘World Vision Day’.
WSD 2023 falls on 12th October 2023.
WSD 2022 was observed on 13th October 2022 and WSD 2024 will be observed on 10th October 2024.
The 2023 theme of World Sight Day is, “Love Your Eyes at Work” WSD is coordinated by the International Agency for the Prevention of Blindness (IAPB).
Himachal Pradesh Cabinet Approves Various Initiatives across Various SectorsThe Himachal Pradesh (HP) Cabinet meeting, chaired by Chief Minister (CM) Thakur Sukhvinder Singh Sukhu, approved ‘Van Mitra’ Scheme, a community based forest conservation scheme.
MoC&F launched web portal with Statistical Data of Chemical SectorThe Ministry of Chemicals and Fertilizers(MoC&F) has launched a web portal (www.charak.chemicals.gov.in) to provide statistical data related to the chemical sector for the benefit of all stakeholders.
The portal was launched during the Sensitization workshop on ChemIndia – Chemicals Inventory of India: An Online Data Management System in New Delhi, Delhi.
The workshop was organised by Department of Chemicals and Petrochemicals(DOCP), MoC&F and Federation of Indian Chambers of Commerce & Industry (FICCI).
About the Portal: i.The web portal developed by Department of Chemicals and Petrochemicals along with the National Informatics Center(NIC). ii.The portal aims to provide statistical data on the chemical sector to all stakeholders. iii.The portal will facilitate the collection of data on production, installed capacity, exports, imports, purchases, and sales of chemicals in Chemical sectors. Objective: The portal streamlines data supply, foster efficiency, and provides access to latest innovations and technological advancements related to chemical and petrochemical industries. Benefits: This protal will provide a support system to help industries to implement best practices, create an accurate inventory of the chemical data system, and provide geographical data support to various stakeholders.
This benefits the users, researchers, academicians, policy makers to generate visualizations and reports according to their needs.
Additional Info: During October-November 2023, DOCP has planned workshops in various cities, including Vadodara(Gujarat), Vapi(Gujarat), Pune(Maharashtra), Bengaluru(Karnataka), Chennai(Tamil Nadu), Bhubaneswar(Odisha), and Hyderabad(Telangana) to raise awareness about the web portal.
Indian NavyConducts Annual Joint HADR Exercise CHAKRAVAT 2023The 2023 edition of the Annual Joint Humanitarian Assistance and Disaster Relief (HADR) Exercise (AJHE) – “CHAKRAVAT 2023” was conducted by the Indian Navy (IN) at Goa from 09th to 11th October 2023.
AJHE is the result of Prime Minister Narendra Modi’s preference conveyed during the Combined Commanders’ Conference in 2015.
To address the challenges posed by climate change in the Indian Ocean Region (IOR), the Indian armed forces conduct HADR operations as part of India’s Security And Growth for All in the Region (SAGAR) initiative.
This exercise evolved the Indian armed force’s assistance in disaster times as a collaborative government approach that enhanced India’s preparedness and response to natural disasters.
Note: i.The first edition of the exercise was held in 2015 and it has been conducted by the Indian Army, Indian Navy (IN), and Indian Air Force (IAF) in rotation since 2016. ii.The last edition of the exercise ‘Samanvay 2022’ conducted by the Indian Air Force (IAF) was held in Agra, Uttar Pradesh. Participants: i.AJHE witnessed the participation of the Indian Armed Forces, various national agencies, and eight countries from the IOR. ii.The national agencies that participated were
National Disaster Management Authority (NDMA), National Disaster Response Force (NDRF), National Institute for Disaster Management (NIDM), Indian Army, Indian Navy, Indian Air Force, Coast Guard, Indian Metrological Department (IMD), National Remote Sensing Agencies (NRSA).
State Disaster Management Agency (SDMA) and State Fire Services, Goa, District Disaster Management Agency (DDMA) of North and South, Goa, Indian National Centre for Ocean Information Services (INCOIS).
Central Water Commission (CWC), Defence Research and Development Organisation (DRDO), and representatives from the Federation of Indian Chambers of Commerce and Industry (FICCI).
iii. The eight countries in the IOR that participated includes Mauritius, Comoros, Seychelles, Tanzania, Sri Lanka, Mozambique, Madagascar, and Maldives. About CHAKRAVAT-2023: i.The CHAKRAVAT-2023 includes a seminar, a Table-Top Exercise, and a Multi-Agency Capability Demonstration. ii.The exercise had discussions on emergent topics namely,
Climate Change Adaptation and Disaster Risk Reduction
Practical Solution, Disaster Response in IOR
A Collaborative Approach, and NGO Collaboration in Disaster Reduction and Response
About the Logo of CHAKRAVAT-2023: The CHAKRAVAT-2023 logo shows crests and logos of all participating agencies, as well as flags of all nations engaged, indicating that HADR will rely on collaborative and integrated action by all agencies.
EU Approves World’s 1st Green Bond Standards to Avoid Greenwashing European Union (EU) lawmakers approved new standards for companies issuing “green” bonds to help investors by enabling them to distinguish truly sustainable companies from those engaged in greenwashing or misleading climate-friendly claims. These standards introduce the “European Green Bond” label, representing a first-of-its-kind global initiative.
Europe has emerged as a global leader in the issuance of green bonds, representing over 50% of the total volume in 2021, issuance is still only 3% to 3.5% of the overall bond market.
Companies aiming to categorise their bonds as “green” must disclose detailed information regarding the use of bond proceeds. Companies must allocate at least 85% of raised funds to activities aligned with the EU’s sustainable taxonomy.
In addition to sustainable allocation, companies must demonstrate how these investments contribute to their transition to a net-zero carbon emissions economy.
The new standards establish a registration system and supervisory framework for external reviewers of European green bonds.
Axis Bank and Fibe Partner to Launch India’s First Numberless Credit CardAxis Bank Limited and Social Worth Technologies Private Limited (Fibe) (formely known as EarlySalary) have partnered to launch India’s first-ever numberless credit card called Fibe Axis Bank Credit Card.
The card, powered by Rupay, also allows the customer to link this credit card to Unified Payments Interface (UPI).
About the card: i.The Fibe Axis Bank Credit Card offers financial solutions by targeting tech-savvy of Generation Z (people born between 1996 and 2010) of India. ii.The card does not have any card number, expiry date, or Card Verification Value (CVV) printed on it.
This enhances security and privacy of the cardholder by reducing the risk of identity theft and unauthorized access to customer card details.
The cardholders can access their card details in Fibe mobile application(App).
Features: i.The card is also accepted at all offline stores and offers the tap-and-pay feature for added convenience. ii.Rewards: The numberless credit card offers industry-best rewards, including a flat 3% cashback on online food delivery, local commute on leading ride-hailing apps, and entertainment on online ticketing platforms. Customers also get a 1% cashback on all online and offline transactions. iii.The credit card also offers benefits such as
Access to four domestic airport lounges per quarter
Fuel surcharge waiver for fuel spends between Rs. 400 and Rs. 5,000
The added advantage of Axis Dining Delights, Wednesday Delights, End of Season Sales, and RuPay portfolio offerings.
About Axis Bank Limited: Managing Director(MD) & Chief Executive Officer(CEO) – Amitabh Chaudhry Headquarters – Mumbai, Maharashtra Established in – 1993 Tagline – Badhti Ka Naam Zindagi About Fibe: Co-Founder and Chief Executive Officer(CEO) – Akshay Mehrotra Headquarters – Pune, Maharashtra Established in – 2015
Mahindra Last Mile Mobility Gets Rs.300 Cr from IFC as First Installment of Investment Mahindra Last Mile Mobility (MLMML), a subsidiary of Mahindra & Mahindra Ltd. (M&M) received the first installment of investment of Rs.300 crore from the International Finance Corporation (IFC) for its Electric Vehicle (EV) division. This investment is IFC’s first in an EV maker in India.
With this transaction, MLMML has ceased to be a wholly owned subsidiary of Mahindra with effect from 9th October 2023, while it continues to be a subsidiary of the company.
In March 2023, IFC committed to investing Rs. 600 Crore (in one or more installments) at a valuation of up to Rs. 6020 Crore, in a new company housing the last mile mobility division of Mahindra Group.
This partnership between MLMML and IFC signifies a mutual dedication to sustainable, inclusive, and clean transport solutions.
MLMML aims to accelerate the green transition in the automotive industry in support of India’s climate targets. It will focus on scaling last-mile passenger and cargo transportation solutions.
MLMML commenced commercial operations in September 2023, pursuant to the closing of the Asset Transfer Agreement and Business Transfer Agreement with M&M.
Note: IFC is a member of the World Bank Group and is the largest global development institution focused on the private sector in emerging markets.
Federal Bank Extends UPI Services to NRIs to Enhance Seamless Transaction Kerala based Federal Bank Limited has extended the Unified Payments Interface (UPI) integration for Non-Residential External (NRE) clients through its mobile banking platform, FedMobile, to enhance banking convenience for its Non-Residential Indian (NRI) clients.
With the integration of UPI, NRI clients can now make payments seamlessly using their NRE accounts in regions where traditional payment methods may be limited.
The plan has been approved by the National Payments Corporation of India (NPCI) for NRIs from countries including Singapore, Australia, Malaysia, Canada, Hong Kong, Oman, Qatar, the United States of America(USA), Saudi Arabia, the United Arab Emirates(UAE), and the United Kingdom(UK).
Any NRI customer with an Indian mobile number registered in the Bank’s records can also avail of this facility, further enhancing accessibility.
With UPI on FedMobile, NRE clients can enjoy a wide range of payment options, including Send Money, Scan N Pay, UPI Collect, and UPI Mandate approvals, including those for Initial Public Offering (IPO) Subscription.
The feature will also be available on other UPI applications that support global UPI transactions to offer flexibility to the users.
Payment Aggregator Paysharp Gets ISO/IEC 27001:2022 Certification Chennai(Tamil Nadu)-based Paysharp Private Limited(Paysharp), a Reserve Bank of India (RBI) in-principle licence-approved Payment Aggregator, gets ISO/IEC 27001: 2022 certification, the world’s best-known standard for Information Security Management Systems (ISMS).
Paysharp, a fintech startup founded in 2019, is focusing on non-card-based payments like Unified Payments Interface (UPI) payments. It offers both Business-to-business (B2B) and Business-to-consumer (B2C) businesses, offering a range of UPI collection solutions.
ISO/IEC 27001 helps organisations become risk-aware and proactively identify and address weaknesses. It promotes a comprehensive approach to information security.
ISO/IEC 27001 was jointly published by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) in 2005 and then revised in 2013 and 2022.
The ISO/IEC 27001 standard provides companies of any size and from all sectors of activity with guidance for establishing, implementing, maintaining, and continually improving an ISMS.
Unemployment rate dips to 6.6% in Q1FY24: 19th Quarterly PLFS by NSO
On October 9, 2023, the National Sample Survey Office (NSSO), Ministry of Statistics and Programme Implementation (MoSPI) released its 19th quarterly Periodic Labour Force Survey (PLFS) bulletin for April-June 2023 (Q1FY24).
As per it, India’s urban unemployment rate (UR) in Current Weekly Status (CWS) terms for persons aged 15 years and above declined to 6.6% during Q1FY24 from 6.8% during Q4FY23. It was 7.6% in April-June 2022 (Q1FY23).
The UR for Q1FY24 is lower than the URs observed in the quarters covered in the pre-pandemic period.
Assessment: A total number of 5,639 FSUs- First Stage Unit (UFS- Urban Frame Survey blocks) have been surveyed during Q1FY24. The number of urban households surveyed was 44,190 and number of persons surveyed was 1,67,916 in urban areas. Key Figures representing Persons of 15 years and above in Urban Areas in Q1FY24: i.UR in CWS among male population declined to 5.9% as compared to 7.1 in Q1FY23.
UR in CWS among females also saw a decline during Q4FY23 to 9.1% from 9.5% in Q1FY23.
ii.At all India level, Labour Force Participation Rate (LFPR) in CWS increased to 48.8% from 47.5% in April-June 2022 (Q1FY23).
For male, it was around 73.5% during this period.
For female, LFPR increased from 20.9% to 23.2%.
iii.Worker Population Ratio (WPR- in %) in CWS increased to 45.5% from 43.9% in Q1FY23.
For male, it increased from 68.3% to 69.2% during this period.
For female, it increased from 18.9% to 21.1%.
Click Here for Official PDF Static Info: About Periodic Labour Force Survey (PLFS): It was launched in 2017 by NSO to serves the following two purposes:
To estimate the key employment and unemployment indicators (viz. Worker Population Ratio, Labour Force Participation Rate, Unemployment Rate) in the short time interval of three months (quarterly) for the urban areas only in the ‘Current Weekly Status’ (CWS).
To estimate employment and unemployment indicators in both ‘Usual Status’ (ps+ss) and CWS in both rural and urban areas annually.
Key Definitions: UR: It is defined as the percentage of unemployed persons among the labour force. LFPR: It is defined as the percentage of persons in labour force (i.e. working or seeking or available for work) in the population. WPR: It is defined as the percentage of employed persons in the population. CWS: The activity status determined on the basis of a reference period of last 7 days preceding the date of survey is known as the current weekly status (CWS) of the person.
IMF’s WEO Oct 2023: India’s Growth is projected to be at 6.3% for both 2023 & 2024According to World Economic Outlook (WEO), October 2023 -Navigating Global Divergences‘ the International Monetary Fund (IMF) has raised India’s Gross Domestic Product (GDP) growth forecast to 6.3% in 2023 from July 2023 estimate of 6.1% due to 7.8% growth during the June quarter.
India will also grow at 6.3% in 2024 while remaining the world’s fastest growing major economy in 2023 and 2024.
Key Points: i.The IMF’s 2023 growth forecast for India is same as the World Bank’s (WB) projection in its India Development Update on October 3, 2023. ii.On the other hand, it is still lower than the 6.5% projection by Reserve Bank of India’s (RBI) Monetary Policy Committee. Global Growth Projection by IMF: i.Global economic growth will slow to 3% in 2023 from 3.5% in 2022, a fall by 50 basis points.
It will be 2.9% in 2024.
The global growth for 2023 and 2024 is below the historical (2000–19) average of 3.8 percent.
ii.Global inflation will decline steadily to 6.9% in 2023 from 8.7% in 2022
It will be 5.8% in 2024.
Core inflation will decrease slowly, and in most cases, it will not reach the target until 2025.
iii.Advanced economies are expected to slow to 1.5% in 2023 from 2.6% in 2022.
They will grow at 1.4% in 2024.
iv.Emerging market and developing economies are projected to decline to 4% in 2023 and 2024 from 4.1% in 2022. v.The reasons behind the global slowdown are economic activity lags pre-pandemic levels, particularly in emerging markets, uneven recovery and supply chain disruptions due to Russia’s invasion of Ukraine, and the recent Palestine invasion against Israel risks destabilizing West Asia which is a major global oil production hub.
360 One Wealth Hurun India Rich List 2023: Mukesh Ambani Tops“360 One Wealth Hurun India Rich List 2023”, the 12th–anniversary edition of Hurun India Rich List released in association with 360 One Wealth, is topped by Mukesh Ambani(66), Chairman of Reliance Industries limited(RIL).
Mukesh Ambani has regained the title as India’s richest man with a wealth of Rs 8,08,700 crore.
Gautam Adani(61), Chairman of the Adani Group, is ranked 2nd with a wealth of Rs 474800 crore. In 2022 Adani topped the list, he was ahead of Ambani by a wealth gap of Rs 3 lakh crore.
With a wealth of Rs 2,78,500 crore, Cyrus Poonawalla (82) retained the third position in the list.
i.It featured 1,319 individuals from 138 different cities with Rs 1,000 crore, a surge by 219 i.e. a rise of 76% over five years. This is the first time that the 1300 mark was broke. ii.Manish Kejriwal of Kedaara Capital becomes the first Indian private equity fund manager on the list with Rs 3,000 crore net worth. About Hurun India: Managing Director and Chief Researcher– Anas Rahman Junaid Headquarters– Mumbai, Maharashtra Establishment– 2012
IOC & Reliance Foundation Signed Agreement for OVEP in IndiaThe International Olympic Committee (IOC) with the Olympic Museum along with Reliance Foundation signed a new cooperation agreement to expand and promote the Olympic Values Education Programme (OVEP) in India.
The agreement was signed by IOC President Thomas Bach and Nita Ambani, IOC Member in India and Reliance Foundation Founder Chairperson, during a visit to the Reliance Foundation Young Champs (RFYC) football academy in Mumbai, Maharashtra.
About the partnership: i.Through the agreement, Reliance Foundation have joined as an OVEP implementation partner. ii.The programme will be first implemented in the Mumbai and later it will expand to rest of Maharashtra. iii.Through this partnership, both the organistion uses sports as a medium to inculcate values such as respect, friendship, fair play, and solidarity young people. Three key areas: i.Grade-specific activities in select schools: These activities will promote Olympism and the Olympic values, and help them develop positive behaviors. ii.Sessions with athletes: Athletes will interact with students virtually and in person to promote physical activity and discuss the Olympic values. iii.Interactive games, quizzes, and workshops: These sporting and educational events will raise awareness of the Olympic values. About OVEP: i.The Olympic Values Education Programme (OVEP) is a series of learning resources that have been created by the International Olympic Committee.
The program aims to increase access to sport and bring the health and societal benefits of physical activity to communities across the globe.
ii.OVEP is an initiative led by the Olympic Museum that advances the IOC’s Olympism365 strategy. iii.OVEP was launched in India in 2022 in partnership with the AbhinavBindra Foundation in Odisha.
It is one of the first major IOC projects to be implemented in India.
iv.The goal of OVEP in India is to promote the Olympic values of excellence, respect, and friendship among young people.
OVEP brings both sports and education together.
v.OVEP in India is currently being implemented in over 350 schools in Odisha and Assam, and it has reached over 250,000 students. About Reliance Foundation: Founder & Chairperson – Nita Ambani Headquarters – Navi Mumbai, Maharashtra Established in 2010 About International Olympic Committee (IOC): The International Olympic Committee is the guardian of the Olympic Games and the leader of the Olympic Movement. President – Thomas Bach Headquarters – Lausanne, Switzerland Established in – 1894
Verstappen wins Qatar GP 2023 to win 3rd Formula1 World ChampionshipMax Verstappen, the Belgian- Dutch driver of Red Bull added his name to the list of Formula One (F1) triple champions.
Max Verstappen achieved this feat by securing 2nd place in Qatar Grand Prix 2023 sprint race, Australian driver of McLaren Oscar Piastri won the Sprint race.
Later on, Max Verstappen won the 2023 Qatar Grand Prix main race event, followed by Australian driver of McLaren, Oscar Piastri and British driver of McLaren, Lando Norris.
With this win Max has won the consecutive F1 World Championship in (2023, 2022 & 2021).
Note- F1 Sprint race is a 100km dash to the chequered flag. There are no pit stops (unless you’re unfortunate enough to need to dive in for repairs). It’s like a Twenty20 cricket match, where the emphasis is on attacking. Elite F1 Champions: i.Max becomes a part of the three time Champions that includes Brazilians Ayrton Senna and Nelson Piquet, Austrian Niki Lauda, Britain’s Jackie Stewart, and Australian Jack Brabham. ii.Sebastian Vettel (Germany) and Alain Prost (France) (four each), Juan Manuel Fangio (Argentina) (five), Michael Schumacher (Germany) and Lewis Hamilton (Britain – United Kingdom) (seven each) have won more than three championship since the championship started in 1950. Records by Verstappen i.Verstappen has now won on 24 different circuits in his F1 career, passing Michael Schumacher’s total and trailing only Lewis Hamilton’s (31). ii.Verstappen now leads the drivers’ championship by over 200 points. The largest winning margin ever at the end of a season is 155 points by Vettel in 2013. iii.Verstappen broke Sebastian Vettel’s record for the most laps led in a single season during Qatar GP race (739), with five races still remaining in 2023 iv.Max Verstappen, has won 14 of 17 grand prix(GP) in this year including 11 in a row. About 2023 Qatar Grand Prix
The 2023 Qatar Grand Prix, officially known as the Formula 1 Qatar Airways Qatar Grand Prix 2023 held on 8th October 2023.
It took place at the Lusail International Circuit in Lusail, Qatar.
It was the 17th round of the 2023 Formula One World Championship.
About Formula One Championship Award A F1 World Champion is a racing driver which has been designated such a title by the governing body of Formula One – the Fédération Internationale de l’Automobile (FIA). The winner of the FIA Formula One World Championship (WDC) is the most successful Formula One driver over a particular season.
It is determined by a points system based on individual Grand Prix results.
This year 2023 season will consist of 23 Grand Prix races.
Jannik Sinner Wins China Open 2023 Men’s Singles TitleJannik Sinner ofItaly won the China Open 2023 men’s single title against Daniil Medvedev (Russia) for the first time. It was held at the Beijing Olympic Green Tennis Center, Beijing, China from September 28 – October 04 2023.
Sinner defeated World No. 2 and top seed Carlos Alcaraz (Spain) in the semi-finals.
It was the 22nd edition of the China Open (1993 to 2023).
Iga Swiatek Wins China Open 2023 Women’s Singles Title Iga Swiatek (Poland) won the China Open 2023 women’s single title, beating her opponent Liudmila Samsonova (Russia).
Iga Swiatek won her fifth title of the season 2023 with a 6-2 6-2 victory against Liudmila Samsonova.
i.It is the first China Open since 2019 after China lifted travel restrictions that formed part of a longtime policy to prevent the spread of Covid-19. ii.It was also the first time the women’s tournament had taken place since the WTA announced the end of an embargo imposed on China following sexual assault allegations by former player Peng Shuai. Winners at China Open 2023: Men’s Doubles – Ivan Dodig (Croatia) and Austin Krajicek (United States) cinched their fifth tour-level title of the season (2023) at the China Open 2023 by defeating Wesley Koolhof (Netherlands) and Neal Skupski (United Kingdom). Women’s Doubles- Marie Bouzková (Czechia) and Sara Sorribes Tormo (Spain) defeated Chan Hao-ching (Taiwan) and Giuliana Olmos (Mexico) in the final About China Open It is an annual men’s and women’s professional tennis tournament held in Beijing, China. Founded – 1993 Surface – Hard/Outdoor (Since 2004-present) The women’s China Open is a Women’s Tennis Association (WTA) 1000 event on the WTA Tour The men’s China Open is an Association of Tennis Professionals (ATP) Tour 500 event on the ATP Tour Novak Djokovic is the only player to have won the title six times.
International Day of the Girl Child 2023- October 11The United Nations (UN) International Day of the Girl Child(IGDC) is annually observed across the globe on 11 October to focus attention on the need to address the challenges girls face and to promote girls’ empowerment and the fulfillment of their human rights. The theme of IDGC 2023 observed on 11th October 2023 is “Invest in Girls’ Rights: Our Leadership, Our Well-being”.
The theme emphasises the need for the global community to go beyond making commitments and invest boldly in the action needed to empower girls, safeguard their rights, and enhance their well-being.
Background: i.On December 19, 2011, the United Nations General Assembly (UNGA) adopted a resolution A/RES/66/170 and declared October 11 of every year as the International Day of the Girl Child. ii.The first International Day of the Girl Child was observed on 11 October 2012.
ASDM of Assam Govt & Indian Army signed MoU for upskilling of ex-servicemen Assam Skill Development Mission (ASDM) under the Skill, Employment & Entrepreneurship Department, Government of Assam and the Indian Army (Headquarters 51 Sub Area) have signed a Memorandum of Understanding(MoU) for upskillilng ex-servicemen and their dependents.
This MoU between Indian Army and ASDM will empower ex-servicemen and their dependents to get remunerative employment and self-employment.
Key People: The MoU was signed in the presence of Himanta Biswa Sarma, Chief minister(CM) of Assam and general officer commanding-in-chief (GOC-in-C). of Eastern Command, Lieutenant General Rana Pratap Kalita. Note: ASDM started in 2017 with an aim to build capacity among 1.50 lakhs unemployed youths in a year. It is registered under Society Act in 2015. CM unveiled statue of Lachit Borphukan & Swahid Smarak: Assam CM also unveiled a statue of Lachit Borphukan, a medieval-era Ahom army commander, and a Swahid Smarak (Martyr’s Column) at Bir Lachit Borphukan Park inside Narengi Military Station in Guwahati, Assam.
These 2 structures conceptualised by Major General (Retd.) R.K. Jha, former General Officer Commanding of 51 Sub Area of the Indian Army in Narengi.
These structures were funded by Governemnt of Assam.
Note: CM also announced that a 150-feet-tall statue of Lachit will be installed at Bir Lachit Barphukan Maidam in Hollongapar, Jorhat, Assam. About Assam: Chief Minister – Himanta Biswa Sarma Governor – Gulab Chand Kataria Festival – Magh Bihu, Me-Dum-Me-Phi Statdium – Dr. Bhupen Hazarika Cricket Stadium (Assam Cricket Association Stadium), Nehru Stadium About Indian Army: Chief of the Army Staff – General Manoj Pande Headquarters – New Delhi, Delhi Established – 1895
MoCA Unveils Digital System for Automatic Issuance ofExporter Status CertificatesOn October 9, 2023, Union Minister PiyushGoyal, Ministry of Commerce & Industry (MoCI), launched a new initiative for issuing system-based automatic ‘Status Holder’ certificates under the Foreign Trade Policy (FTP) 2023.
The initiative was launched during the meeting with Export Promotion Councils.
Note: At present, there are around 14 Export Promotion Councils under the administrative control of the Department of Commerce. What is in the system? i.The new system eliminates the need for exporters to apply for a Status Certificate from the Directorate General of Foreign Trade (DGFT). ii.Export recognition is automated through the IT (Information Technology) system using existing merchandise export data and risk parameters from Directorate General of Commercial Intelligence and Statistics (DGCIS).
This streamlines the process, reduces compliance burden, and promotes ease of doing business.
Eligible exporters can modify their status online later, ensuring a simplified process without the need for manual applications or certifications.
Current Scenario: At present, the exporter is required to file an online application along with an export certificate from a Chartered Accountant (CA) for grant of Status. The DGFT Regional Offices, issue the certificate in 3 days. What is Status Holder certification program? It enhances Indian exporters’ credibility in the international markets and offers benefits such as simplified procedures under FTP 2023, priority custom clearances, exemption from mandatory document negotiation through banks, and no need for filing Bank Guarantee for FTP schemes. Key Points: i.The new system will recognize 20,000 exporters as Status Holders under FTP 2023, a significant increase from the previous 12,518. ii.This is also aligned with the goal of achieving a USD 2 trillion export target by 2030.
BIAL sets up South Asia’s 1st Aircraft Recovery Training School in BLR Airport Bangalore International Airport Limited (BIAL) has established South Asia’s first Aircraft Recovery Training School (ARTS) on the premises of Kempegowda International Airport Bengaluru(KIAB/BLR Airport) in Bengaluru, Karnataka.
BIAL formed a strategic partnership with KUNZ GmbH Aircraft Equipment, Germany.
BIAL is the first airport in India to acquire Code F compatible aircraft recovery equipment and assemble a proficient team of recovery managers.
About Aircraft Recovery Training School (ARTS): i.ARTS provides aircraft recovery hands-on training, equipped with state-of-the-art Disabled Aircraft Recovery Equipment (DARE). ii.The goal of the program is to elevate operational efficiency and prioritize passenger safety.
The training will equip aviation professionals with the necessary skills and knowledge needed to respond the challenging situations.
Mumbai Airport is 1st in Asia to Commission ‘Disabled Aircraft Recovery Kit’ Chhatrapati Shivaji Maharaj International Airport (CSMIA) of Mumbai, Maharashtra, has become the first airport in Asia to commission a “Disabled Aircraft Recovery Kit” (DARK), to help stranded aircraft.
DARK can quickly and efficiently recover large commercial and transport aircraft that have become disabled due to runway excursions or other incidents.
DARK uses high-pressure lifting bags that are more durable and require fewer people to operate than conventional low-pressure systems.
It can recover aircraft up to 390 tonnes in weight, including the world’s largest aircraft, the Boeing 777-300ER.
The DARK kit is compact and portable, making it easy to transport to crash sites quickly. This is especially important at CSMIA, which has a single cross-over runway operation.
Note: A runway excursion is when an aircraft unintentionally leaves the runway during takeoff or landing.
Star Health Insurance introduces Surrogacy Cover and Oocyte Donor Cover On October 9, 2023, Star Health and Allied Insurance introduced surrogacy cover and oocyte donor cover to its women-centric policy namely Star Women Care Insurance Policy at no extra charge for policyholders.
This inclusion will address the demand in assisted reproduction treatment, and extending health insurance coverage to surrogate mothers and oocyte donors.
The Surrogate Mother & Oocyte Donor Cover is applicable for adults 25 to 35 years. The sum insured under this is available up to Rs. 1 Crore.
Note: For the cover to be valid, the intending couple, surrogate mother, and treating hospital should comply with the Surrogacy Act and Assisted Reproductive Technology (ART) Act regulations. Additionally, the Surrogacy and Oocyte donation must be undertaken at approved centres registered with the National ART and Surrogacy Registry. Features of Surrogacy Cover and Oocyte Donor Cover: Surrogacy Cover: i.Offers inpatient hospitalisation coverage for post-partum delivery complications for 36 months. ii.Begins from the date of treatment or procedure initiation. iii.Compensation for Miscarriage due to Accident as per policy terms. Oocyte Donor Coverage: Covers inpatient hospitalisation costs for assisted reproductive treatment complications for 12 months. Newborn Cover: i.Newborn receives health cover of 25% of sum insured from Day 1. ii.Increases to 100% from the subsequent year onward. Star Mother Cover: Covers hospital room rent for insured mothers if child is <12 years old and hospitalized in ICU. Additional benefits: Additional benefits include AYUSH Treatment, Rehabilitation and pain management, Ante-Natal Care (Pregnancy Care), In Utero Fetal Surgery/Repair, Bariatric Surgery, Optional Cover (Lump sum on diagnosis of Cancer), Coverage for modern treatments, Medical and Tele-Health consultations. About Star Health and Allied Insurance: Managing Director and Chief Executive Officer– Anand Roy Headquarters– Chennai, Tamil Nadu Establishment– 2006
IIFCL Sanctions Loans Worth Rs 8,800 crore to Boost Civil Aviation InfrastructureIndia Infrastructure Finance Company Limited (IIFCL) has sanctioned loans worth Rs8,800 crore for airports and civil aviation infrastructure development in India.
The IIFCL has already sanctioned loans of around Rs 4,000 crore.
Note: IIFCL is a government owned financial institution that caters to the long-term financing needs of India’s infrastructure sector. This plays a major role in financing airport projects in India. Funding: i.IIFCL is one of India’s major airport financiers and has supported airports with a total project outlay of about Rs 74,000 crore. ii.IIFCL along with the Government of India will continue to support the development of world-class airport infrastructure in India under the Public-Private-Partnership(PPP) model.
It will also explore opportunities to fund greenfield airport projects and Maintenance, Repairs and Overhaul (MRO) facilities.
Background: i.The launch of the Ude Desh ka Aam Nagarik’ (UDAN) scheme (in 2017) has boosted the development of the airport sector. ii.As a result the number of airports has almost doubled from 74 in 2014 to 148 in 2023, giving a boost to regional connectivity. Growing Demand: i.The passenger handling capacity is expected to increase from the current 350 million per annum to 500 million per annum by the end of the Financial Year2023-24 and 2 billion by 2047. ii.The growth was driven by the rising trend of air travel among middle-income households, complemented by infrastructure development at leading airports and supportive government policies. iii.The airport infrastructure capacity should be increased to meet such a huge growing demand. Additional Info: To expand air infrastructure, the National Infrastructure Pipeline (NIP) has envisaged a Capital expenditure (capex) of Rs 91,000 crore for the civil aviation sector in the five years till FY25. About India Infrastructure Finance Company Limited (IIFCL): Managing Director(MD) – Padmanabhan Raja Jaishankar Headquarters – New Delhi, Delhi Established in – 2006
Nobel Prize in Economics 2023: Professor Claudia Goldin 3rd Woman to Won the AwardProfessor Claudia Goldin of Harvard University, Cambridge, Massachusetts, the United States of America (USA) won the 2023 Nobel Economics Prize, formally known as the SverigesRiksbank Prize in Economic Sciences in Memory of Alfred Nobel, for her research contributions to the understanding of women’s roles and outcomes in the labour market.
The Prize in Economic Sciences is awarded by the Royal Swedish Academy of Sciences, Stockholm, Sweden, it shares the same principles as the Nobel Prizes, which have been awarded since 1901.
Claudia Goldin is the 55th recipient of the Economic Science Prize since its inception in 1969.
She is the 3rd woman to receive the award after Elinor Ostrom (USA) in 2009 and Esther Duflo (French-American) in 2019. She is also the first woman to win the prize solo.
Note:
In 2009, Elinor Ostrom became the 1st woman to win the Economics prize. She shared the award with Oliver E Williamson. Esther Duflo shared the 2019 award with her husband Abhijit Banerjee, and Michael Kremer.
Nandini Azad Re-elected to Board of International Raiffeisen Union Nandini Azad, President of the Indian Co-operative Network for Women (ICNW) and the Working Women’s Forum (WWF) (India), has been re-elected as a member of the International Raiffeisen Union (IRU) Board for the 2nd term.
In 2018, she was elected to the IRU Board becoming the first Indian and first woman to be appointed to the post.
At Present, she is also serving as the Chairperson of the International Cooperative Alliance(ICA) – Asia Pacific(AP) Committee on Women.
Other Noted appointment: i.Guy Hoffmann from Banque Raiffeisen Luxembourg has been elected as the new IRU President, succeeding Franky Depickere from Cera. ii.National Cooperative Union of India (NCUI) President Dileepbhai Sanghani has been re-elected unopposed as the director on the board of IRU. Note:
ICNW, established in 1981, is the 1st women’s cooperative in South India for, by, and of poor women. It is active in Tamil Nadu, Kerala, Karnataka, and Andhra Pradesh.
IRU, founded in 1968, is a prestigious worldwide association of national cooperative organisations. IRU headquartered in Bonn, Germany has 50 members in 33 countries.
Epithemiswayanadensis: New Dragonfly Species Found in WayanadResearchers have discovered a new species of colourful dragonfly in Wayanad, Kerala. The new species, also known as “Red-rumped Hawklet”, is given the scientific nomenclature “Epithemis wayanadensis”. It is named after its habitat “the Wayanad plateau”, situated among the biodiverse Western Ghats.
The discovery of the new species is published in the peer-reviewed, open-access journal, Journal of Asia-Pacific Biodiversity, by the Elsevier Group.
About Epithemis wayanadensis: i.The speciesEpithemiswayanadensis(E. wayanadensis) belongs to the GenusEpithemis, a genus of insects, and family Libellulidae. It is endemic to the Western Ghats, India. ii.E. wayanadensis is a sister taxon of Ruby-tailed Hawklet (EpithemisMariae) a very similar species found in small colonies closely associated with forested marshes in south India. Habitat:
i.wayanadensis has been identified in the Western Ghats, specifically in the lush landscape of Wayanad and parts of the Nilgiri Coorg region (Kerala, Tamil Nadu and Karnataka).
It primarily inhabits marshes and pools at the base of forested hills.
Features: i.E. wayanadensis species is a much darker insect with more restricted red colouration like E. Mariae. ii.It differs in having darker pigmentation, a restricted red colouration on the abdomen, and lacking the yellow antehumeral stripes. iii.It has a weak flight and never flew higher than 3 metres above the ground. iv.This dragonfly species takes to the skies (makes a brief appearance) exclusively during the month of October and by early November, these dragonflies vanish from sight. Research Team: The discovery was a collaborative effort led by Vivek Chandran and Subin K. Jose, researchers of the Environmental Science department at Christ College, Irinjalakuda, Kerala; David Raju, a seasoned naturalist and wildlife photographer; and Zeeshan Mirza, a researcher from the Max Planck Institute for Biology in Germany. Discovery of the Species: i.The team was conducting research on the odonates (dragonflies and damselflies) in Kerala and collected specimens of a population that resembles E. Mariae. ii.Further examination revealed distinct differences in morphology, behaviour, and genetic makeup, leading to the conclusion that E. wayanadensis was a previously undiscovered species. DNA analysis: i.To validate their remarkable discovery, the team conducted DNA analysis, a pivotal method for confirming the existence of a new species.
Typically, a mere 2% genetic difference indicates the presence of a new species.
However, the researchers found a 12% genetic difference in their analysis.
ii.This instance marks the first time, an Indian dragonfly species has been officially documented with genetic evidence supporting its distinct morphological features. iii.For the first time in the history of Indian Odonatology, the researchers have used molecular techniques to reaffirm the identity of a species new to science.
India Finishes Fourth in the Hangzhou Asian Games 2022 with 107 MedalsIndia finished Fourth in the medal tally of the Hangzhou Asian Games 2022 with 107 medals (28 gold, 38 silver and 41 bronze).
Compound archers Jyothi Surekha Vennam and Ojas Deotale won the most gold medals (three each) for India in the Hangzhou Asian Games 2022.
The Indian men’s cricket team led by Ruturaj Gaikwad was awarded a gold medal after the final was called off due to rain.
Avinash Sable was the first Indian to win the gold medal in the 3000m men’s steeplechase event in any Asian Games.
Medal Tally:
World Dyslexia Day 2023 – October 08World Dyslexia Day also known as “World Dyslexia Awareness Day” is annually observed across the globe on October 8 to raise awareness about dyslexia.
The day aims to promote inclusivity, access to education, and the implementation of effective strategies to support individuals with dyslexia in their learning journeys.
World Dyslexia Day was first observed on October 8, 2013. The day was initiated by the European Dyslexia Association (EDA).
Dyslexia week & month: i.The Dyslexia awareness week is observed annually on the first full week of October, always starting on the first Monday.
In 2023, it is observed from 2nd to 8th October.
ii.Dyslexia Awareness Month is celebrated worldwide each October. Theme: The theme for World Dyslexia Awareness Day 2023 is “Uniquely You”.
The theme aims to celebrate the diversity of people within the dyslexic community.
Dyslexia: i.Dyslexia is a language processing disorder; It is neurological condition that affects how the brain processes language. ii.Ten percent of the population are believed to be dyslexic. iii.Dyslexic people face difficulty in processing and remembering information they see and hear, which impacts on their learning.
People with dyslexia may have difficulty with reading, writing, vocabulary, and tasks that require hand-eye coordination.
Observance in India: The Department of Empowerment of Persons with Disabilities (DEPwD) under Ministry of Social Justice and Empowerment(MoSJE) is observing World Dyslexia Day in India by conducting various events across the country.
National Postal Week 2023 – October 9 to 13 2023National Postal Week is annually observed across India from October 09 to 13 to generate a broad awareness about the role of India Post and its activities among the public and media at a national level.
The observance of National Postal Week is led by the Department of Posts (DOP).
The National Postal Week 2023 is observed from 9th to 13th October 2023 under the theme “Together for trust: Collaborating for a safe and connected future”.
This is the theme of World Post Day 2023.
National Postal Week started with World Post Day, observed across the globe on 9 October to mark the anniversary of the establishment of Universal Postal Union’s (UPU) in 1874.
Note:
DoP trading as India Post, is a government-operated postal system in India, which is a part of the Ministry of Communications of the Government of India (GoI).
India possesses the largest postal network in the world.
World Day Against the Death Penalty 2023 – October 10World Day Against the Death Penalty is annually observed across the globe on October 10 to raise awareness about the inhumane and cruel practice of capital punishment and the need to get rid of the death penalty from the justice systems.
10th October 2023 marks the observance of the 21st World Day Against the Death Penalty.
i.World Day against the Death Penalty 2023 will reflect on the relationship between the use of the death penalty and torture or other cruel, inhuman, and degrading treatment or punishment. ii.Top 5 countries that executed the capital punishment the most in the world in 2022 are, (in order): China, Iran, Saudi Arabia, Egypt and USA. About Amnesty International: Secretary-General – Agnès Callamard Headquarters – London, United Kingdom(UK) Established in – 1961
World Mental Health Day 2023- October 10World Mental Health Day (WMHD) is annually observed across the globe on 10 October to raise awareness of mental health issues around the world and to mobilize efforts in support of mental health.
WMHD is a global health campaign that aims to encourage people around the world to support the cause and establish a healthy environment in all aspects of life to support mental health.
WMHD is supported by the World Health Organisation (WHO), the World Federation for Mental Health (WFMH), and its member organisations. Symbol:The green ribbon is the international symbol of mental health awareness. 2023 Global Campaign: The 2023 Global Campaign aims to recognise the 75th Anniversary of WFMH (founded in 1948) and WMHD 2023. According to WFMH, the theme of the World Mental Health Day Global Campaign 2023 is “Mental health is a universal human right.”
The theme focuses on improving knowledge, raising awareness, and driving actions that promote and protect everyone’s mental health as a universal human right.
Note: Since 2013, WHO has organized a global campaign for WMHD. Background: i.World Mental Health Day was started as an annual activity of the World Federation for Mental Health(WFMH) by the then Deputy Secretary General Richard Hunter. ii.WMHD was observed for the first time on 10 October 1992. iii.In 1994, WMHD adopted its first theme, “Improving the Quality of Mental Health Services throughout the World.”
The then Secretary-General Eugene Brody introduced the concept of an annual theme for WMHD.
About World Federation for Mental Health (WFMH): Secretary General/CEO– Gabriel Ivbijaro President– Dr Nasser Loza (Egypt) President-Elect– Tsuyoshi Akiyama (Tokyo, Japan) Headquarters– Texas, United States of America (USA) Established in-1948
CM PushkarDhami Launches RozgarPrayag Portal at U’khand Youth Mahotsav in DehradunOn October 9, 2023, Pushkar Singh Dhami, Chief Minister (CM) of Uttarakhand, launched the government-developed RojgarPrayag Portal during the Uttarakhand Youth Mahotsav2023 program organized at Parade Ground in Dehradun, Uttarakhand.
The portal for youths aims to provide employment opportunities in the Uttarakhand on a single portal.
The event was organized by the Uttarakhand Skill development Society and Government of Uttarakhand on the theme ‘Uttarakhand Towards Entrepreneurship and Employment’.
During the event, CM Pushkar Singh Dhami launched the Yuva Uttarakhand App to make the schemes run by various departments available at one place.
MP CM Unveils 108 ft Statue of AdiShankaracharya at Omkareshwar Shivraj Singh Chouhan, Chief Minister(CM) of Madhya Pradesh(MP) unveiled a 108-foot-tall statue of 8th-century Vedic scholar and teacher Adi Guru Shankaracharya, on the Mandhata hillock in Omkareshwar, Khargone district of MP.
India-UAE Sign MoU in 7 Areas, with Emphasis on Space Technology, Renewable Energy, and AI The United Arab Emirates (UAE) and India have signed a Memorandum of Understanding (MoU) during the 11th India-UAE high-level joint task force on investments in Abu Dhabi,the capital of United Arab Emirates (UAE).
India and the UAE have signed an MoU in seven areas such as supply chain resilience, renewable energy and energy efficiency, health and life sciences, space systems, AI, Industry 4.0 and advanced technologies, as well as standardisation and metrology.
These MoUs align with the UAE-India Comprehensive Economic Partnership Agreement (CEPA), which aims to strengthen the UAE’s role as a trade and logistics hub.
i.NPCI International Payments Limited (NIPL) and Al Etihad Payments (AEP) entered into an agreement to implement a Domestic Card Scheme (DCS) in the UAE. This partnership is set to revolutionize e-commerce, digital payments, and financial inclusion in the UAE, leveraging India’s expertise in secure payment systems and its widely acclaimed RuPay card network.
NIPL: a wholly-owned subsidiary of the National Payments Corporation of India (NPCI)
AEP: an indirect subsidiary of the Central Bank of UAE (CBUAE)
ARIA & IIT Guwahati Signs MoU to Set Up Digital Twin Center for Emerging Automotive SystemsThe Automotive Research Association of India (ARAI) has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology (IIT) Guwahati(Assam) for establishing a Common Engineering Facility Center (CEFC) titled “Digital Twin Center for Emerging Automotive Systems” in the Hub and Spoke model.
This CEFC was established under the Capital Goods Scheme Phase II of the Ministry of Heavy Industries (MHI) by ARAI in collaboration with industry partner Micelio Mobility Private Limited.
Note: ARAI, the leading automotive R&D organization in India is an autonomous body under the aegis of the MHI. About Automotive Research Association of India (ARAI): Chairman & Director– Dr. Reji Mathai Headquarters– Pune, Maharashtra Established in– 1966
Ministry of Culture Organizes Curtain Raiser and logo launch event for IAADBThe Ministry of Culture organised curtain raiser event for the inaugural India Art Architecture Design Biennale (IAADB 2023) at the National Gallery of Modern Art, New Delhi, Delhi.
The logo of the biennale was also launched during the event.
The IAADB 2023 is set to be held in from 9th to 15th December 2023, at Red Fort, with events scheduled in Delhi, Mumbai (Maharashtra) and Bengaluru (Karnataka).
Key People: The Minister of State (MoS) Meenakashi Lekhi, Ministry of Culture addressed the event while Union Minister Gangapuram Kishan Reddy, Ministry of Culture attended the event through Video Conference. Aim of Biennale: To bring traditional grassroots artists and contemporary designers, curators, architects, and thought leaders to the forefront, transcending age, gender, and genre boundaries Key Points: i.IAADB will serve as a precursor to India’s participation in the Venice Biennale 2024, promoting dialogue among art, architecture, and design professionals. ii.The Biennale aligns with the vision of the Prime Minister and will mark the launch of the Development of Cultural Spaces project at the Red Fort, Delhi. iii.The event will feature exhibitions and panel discussions curated by experts, and will focus on themes like doors, gardens, temple architecture, modern wonders, indigenous design, and women in architecture.
Highlights of Prime Minister Narendra Modi Visits to Rajasthan,Madhya PradeshPM Modi visited Rajasthan, Madhya Pradesh and launched multiple development projects on October 5, 2023. PM Dedicates and Lays Foundation for Rs 5000 Crore Projects in Rajasthan
PM Lays Foundation for Trauma Center and 7 Critical Care Blocks in AIIMS, Jodhpur.
Lays foundation stone of New Terminal Building at Jodhpur Airport at a total cost of Rs 480 crore.
Dedicates IIT Jodhpur campus and infrastructure upgrades to the Central University of Rajasthan at a cost of more than Rs 1135 crore.
The Prime Minister laid foundation stone for multiple road development projects at cumulative cost of about Rs 1475 crore.
The Prime Minister inaugurated the doubling of the 145 km long Degana-Rai Ka Bagh rail line and the 58 km long Degana-Kuchaman City rail line.
PM Inaugurates and Lays Foundation for Development Projects Worth Over Rs 12,600 Crore Madhya Pradesh
The Prime Minister performed the ‘bhoomi poojan’ for the ‘Veerangana Rani Durgavati Smarak aur Udyaan’ in Jabalpur to mark the 500th birth anniversary of Veerangana Rani Durgavati, a commemorative coin and stamp were released. The Prime Minister inaugurated more than 1000 houses constructed under the Light House Project in Indore, part of the Pradhan Mantri Awas Yojana – Urban (PMAY-U).
PM Lays Foundation for Jal Jeevan Mission Projects in Multiple Districts and Dedicates One in Seoni at a cost of Rs.2350 crores.
PM inaugurated projects more than Rs 4800 crore for improving the road infrastructure in Madhya Pradesh.
He also dedicates rail projects worth more than Rs.1850 crore.
North America’s First Gandhi Museum Opens in Houston The Eternal Gandhi Museum Houston(EGMH), North America’s first Gandhi Museum opened in Houston, Texas, United States of America (USA).
The ribbon-cutting ceremony of the Museum was held on 2nd October on the occasion of the 154th birth anniversary of Gandhi While the museum officially opened to the public on 15th August 2023.
Dr Rajmohan Gandhi(grandson of Mahatma Gandhi), Isaac Newton Farris Jr(nephew of Martin Luther King), and Consulate General of India(CGI) Houston D Manjunath were the special guests amongst several at the event.
The architecture of the 13,000-square-foot museum is inspired by Gandhi’s twenty-four-spoke Chakra spinning wheel and the statue of Gandhi placed in front of the museum.
The semi-circular museum’s outside walls depict notable peace activists such as Mahatma Gandhi, Nelson Mandela, Martin Luther King Jr., and Betty Williams.
The exhibits are interactive and interesting, portraying the tale of Gandhi’s life in three parts: “His Journey,” “Our Journey,” and “My Journey.”
Iran’sNargesMohammadiawarded Nobel Peace Prize 2023On October 6, 2023, Nobel Peace Prize 2023 was awarded to 51-year-old NargesMohammadi from Iran “for her fight against the oppression of women in Iran and her fight to promote human rights and freedom for all”.
With this win, she became the 2nd Iranian woman to win the Nobel Peace Prize after Shirin Ebadi (also the first Muslim woman) who won the award in 2003.
Notably, Narges Mohammadi is currently serving a 10-year, 9-month jail sentence in Evin Prison in Tehran on various charges, including spreading propaganda against the state.
About Iran: Capital– Tehran Currency– Iranian Rial President– Ebrahim Raisi
ACC appointed 12 Executive Directors for various PSBsi.On October 7, 2023, the Appointments Committee of the Cabinet (ACC), in its meeting, has approved the appointments of 12 Chief General Managers (CGMs) and General Managers (GMs) by elevating them as Executive Directors (EDs) of various Public Sector Banks (PSBs). ii.Sanjay Rudra, who previously served as the GM at Bank of Maharashtra (BoM), has been designated as the ED at Union Bank of India. iii. Vijaykumar N Kamble, another GM from Bank of Maharashtra, will assume the role of ED at UCO Bank. About Appointment Committee of the Cabinet (ACC): Chairperson– Narendra Modi (Prime Minister of India) Headquarters– New Delhi, Delhi Establishment– 1950
RBI Constitutes Working Group on ECL FrameworkThe Reserve Bank of India (RBI) has constituted a 9 member external Working Group chaired by Prof. R. Narayanaswamy to suggest Expected Credit Loss (ECL) framework for provisioning by banks.
R Narayanaswamy is a retired Indian accountant and former Professor of Indian Institute of Management (IIM) Bangalore, Bengaluru, Karnataka.
Members of the Working Group:
Sanjay Kallapur – Professor in Indian School of Business (ISB), Hyderabad, Telangana.
Rajosik Banerjee – Partner and Head, Financial Risk Management at Klynveld Peat Marwick Goerdeler (KPMG).
S Srinivasa Rao – Chief Manager of State Bank of India(SBI).
Rajendra Khandelwal – General Manager of ICICI Bank.
Susanta Baishya- Executive Vice President (Wholesale Credit) of HDFC Bank.
Adish Yadav – Deputy General Manager at Canara Bank.
Pravinkumar Taparia – General Manager of Saraswat Co-operative Bank.
Sridharan N – Chief Financial Officer(CFO) at Equitas Small Finance Bank.
Terms of Reference for the Working Group: i.Describe the key principles required to considered by the banks while designing the credit risk models to assess ECL. ii.Recommend the factors that should be considered to determine credit risk based on the guidance provided in International Financial Reporting Standard 9 – Financial Instruments (IFRS 9) and principles laid out by Basel Committee on Banking Supervision (BCBS). iii.Suggest methodology to undertake external independent validation of the models. iv.Recommend prudential floors for provisioning based on comprehensive data analysis. Background: i.RBI released a discussion paper in January 2023 proposing a new framework for provisioning for credit risk, called ‘Discussion Paper on Expected Loss (EL)-based Approach for loan loss provisioning by banks’ ii.It states that banks will have to set aside provisions based on their assessment of the expected losses on their loans, rather than waiting until the loans actually default. iii.The RBI has received comments on the discussion paper from various stakeholders, and is now setting up a working group to get independent inputs on some of the technical aspects of the ECL framework. Note:
Expected Credit Loss (ECL): It is a measure of the potential losses that a financial institution expects to incur on its loans and other financial assets over their lifetime.
ECL Framework:The ECL framework is a forward-looking approach to provisioning for credit risk, which is already implemented under International Accounting Standards Board (IASB) and US Financial Accounting Standards Board (FASB).
RBI Appoints MuneeshKapur as New Executive Director RBIhas appointed MuneeshKapur as Executive Director (ED) with effect from October 3, 2023.
As executive director, Muneesh Kapur will monitor the Department of Economic and Policy Research.
Prior to his appointment as ED, he was serving as Adviser-in-Charge of Monetary Policy Department and secretary to the Monetary Policy Committee(MPC).
He also served as an adviser to the executive director of the International Monetary Fund(IMF) during 2012-15.
Amazon Launched First Test Satellites for Project Kuiper Satellite SystemAmazon.com, Inc.(AMZN.O) has launched the first two prototype satellites KuiperSat-1 and KuiperSat-2 to low Earth orbit (LEO) at the height of 500 kilometers (11 miles) as part of “Protoflight” mission of Project Kuiper.
The satellite was launched by United Launch Alliance’s (ULA) Atlas V rocket from Space Launch Complex-41 at Cape Canaveral Space Force Station, Florida, United States of America (USA).
About Project Kuiper: i.Project Kuiper satellite system is a network of satellites in LEO. The Kuiper System will operate at altitudes between 590 and 630 kilometers (roughly 367 to 391 miles). ii.The project aims to provide fast and affordable internet to more than 10 million of underserved communities around the world.
To make it feasible, Amazon planned to launch 3,236 satellites that make up a satellite constellation to LEO.
To reduce the overlap of the satellites, each one of them will operate within 9 kilometers of their assigned altitude.
iii.To launch the satellite Amazon has signed contracts with three commercial space companies namely Arianespace, Blue Origin, and United Launch Alliance.
These space companies will carry satellite to the space with the launch of up to 83 rockets.
iv.Thehalf of the planned satellites must be operational by 2026, and all of them must be operational by 2029. v.This project is competing with SpaceX’s Starlink project. Agreements to launch satellites:
38 launches on ULA’s Vulcan Centaur rocket (will be launched from Cape Canaveral Space Force Station in Florida, USA).
18 launches on Arianespace’s Ariane 6 rocket (will be launched from Guiana Space Center in French Guiana, France)
12 launches on Blue Origin’s New Glenn rocket(will be launched from Cape Canaveral Space Force Station in Florida, USA), with options for 15 additional launches.
This is the largest commercial procurement of space launch services in history. About Amazon.com, Inc.: President and Chief Executive Officer (CEO) – Andy Jassy Headquarters – Seattle, Washington, United States of America(USA) Established in – 1994
KCP Delivers Integrated AirDrop Test – Crew Module Structure to ISRO for Gaganyaan Mission The Chennai-based KCP Heavy Engineering (KCP HE) hands over the first Integrated Air Drop Test -Crew Module (IADT-CM) structure to the Indian Space Research Organisation (ISRO) for the purpose of assessing technology readiness for the Gaganyaan spacecraft.
ISRO designed the IADT-CM structure, which was built in Thiruvotriyur, Chennai, by KCP-Heavy Engineering Unit for heavy casting, machining, and fabrication.
This was the first IADT-CM out of two orders by ISRO to KCP while the second IADT-CM is set to be delivered by March 2024.
The IADT-CM weighs 3,120 kg, has a diameter of 3.1 metres, and a height of 2.6 metres.
It accommodates major subsystems like parachute systems, pyros, avionics, and buoyance augmentation systems.
The IADT-CM system will be tested using an Indian Air Force helicopter at an altitude of 3.6 to 4 kilometres to assess the performance of the deceleration system (parachute and pyro’s).
Note: ISRO’s Gaganyaan Mission intends deploying a crew of two to three members into a 400-kilometer orbit for a three-day mission and safely returning them to Earth by facilitating a landing in Indian sea waters.
Ayush Shetty Wins Bronze Medal in BWF World Junior Championships 2023 India’s Ayush Shetty won the bronze medal in the Badminton World Federation (BWF) World Junior Championships 2023 held from 25th September to 8th October 2023 in Spokane, United States of America (USA).
Alwi Farhan of Indonesia won the gold medal by defeating Hu Zhe An of China (Silver) in the 23rd edition of the BWF World Junior Championships finals.
Ayush Shetty lost to Alwi Farhan of Indonesia. The two losers of the semifinals were given the Bronze medal, the another semifinalist Alex Lanier(France) won the Bronze medal.
The 18-year-old Ayush Shetty’s bronze medal was India’s 11th medal including 1 Gold, 4 Silver, and 6 Bronze at the junior badminton world championships since 1992.
Saina Nehwal won the gold medal in 2008 (India’s best) and silver in 2006 while India’s Sankar Muthusamy Subramanian won silver in 2022in Spain.
World Hydrogen and Fuel Cell Day 2023- October 8 World Hydrogen and Fuel Cell Day (H2FC Day) is annually observed on October 8 to recognise the importance of the chemical element, Hydrogen, and its role in the transition towards a cleaner and more equitable energy future.
The day aimed at promoting awareness and understanding of hydrogen as a clean and sustainable energy source, along with the versatile technology of fuel cells.
Background: i.In June 2015, the Senate of the United States of America (USA) designated the 8th October of every year as ‘‘National Hydrogen and Fuel Cell Day’’.
The idea of the observance was initiated by the Fuel Cell and Hydrogen Energy Association (FCHEA), the trade association for the fuel cell and hydrogen energy industry in the USA.
ii.The first H2FC Day was observed on 8th October2015.
Indian Air Force(IAF) Day 2023 – October 08Indian Air Force(IAF) Day is annually observed across India on October 8 to commemorate the establishment of the Indian Air Force (IAF) in 1932.
8th October 2023 marks the celebration of the 91st Anniversary of the Indian Air Force.
The Indian Air Force is also known as Bharatiya Vayu Sena.
i.The Air Force Day parade (a showcase of the IAF’s personnel and equipment) and Air Display(display of aerial acrobatics and aerobatics) are two of the most important events. ii.A woman officer, Group Captain Shaliza Dhamia (a helicopter pilot), led the Indian Air Force Day parade for the first time ever. iii.As part of the events, Air Chief Marshal V R Chaudhari unveiled the new IAF Ensign. iv.The legendary Mikoyan-Gurevich (MiG)-21 fighter jets of the Indian Air Force (IAF) took its final air display flight on IAF day 2023. About Indian Air Force (IAF): Chief of the Air Staff – VR Chaudhari Headquarters – New Delhi, Delhi Established in – 1932 Motto – Touching the sky with Glory
World Post Day 2023 – October 9The United Nations (UN) World Post Day is annually observed across the globe on 9 October to mark the anniversary of the establishment of the Universal Postal Union’s (UPU) in 1874 in Bern, Switzerland.
The day aims to bring awareness about the role of the postal sector in everyday lives of people and businesses, as well as its contribution to global social and economic development.
The theme of World Post Day 2023 observed on 9th October 2023 is “Together for trust: Collaborating for a safe and connected future”.
GI Tags Awarded to Eight Products from Arunachal Pradesh, Tamil Nadu, Jammu and Kashmir, Odisha, and GoaThe Geographical Indications Registry, operating under the Ministry of Commerce and Industry in Chennai, has recently awarded geographical indication (GI) tags to a collective of 8 distinct products. Among these, 3 originate from Arunachal Pradesh, 1 from Tamil Nadu, 2 from Jammu and Kashmir, 1 from Odisha, and 1 from Goa. GI Tagged products are:
India Signs Two MoUs on Ocean Sciences, Medical Product Regulation with Dominican RepublicIndia and Dominican Republic have signed two Memorandum of Understandings (MoUs) in ocean sciences and medical product regulation. The 2 MoUs were signed between,
Central Drug Control Organization of India (CDSCO) and the General Directorate of Medicines, Food, and Health Products of the Dominican Republic (DIGEMAPS).
The Council of Scientific and Industrial Research, National Institute of Oceanography of India (CSIR–NIO) and the National Authority for Maritime Affairs of the Dominican Republic (ANAMAR).
Note: The MoUs were signed during a high level political dialogue between Raquel Pena Rodriguez, the Vice President of the Dominican Republic, and India’s Vice-President JagdeepDhankhar in New Delhi, Delhi.
The meeting was a part of the 3 day official visit of Raquel Peña Rodríguez to India from 3rd to 5th October 2023.
This is the 1st ever visit by the Vice President of the Dominican Republic to India.
Key Points: i.Under the bilateral cooperation MoU on ocean science, India and Dominican Republic have agreed to work towards exploring solution to the problem of the massive proliferation of the sargassum seaweed afflicting the Caribbean beaches, affecting the livelihood of coastal populations and the tourist industry. ii.The Dominican Republic is set to support the presence of Indian pharmaceutical companies in its territory and India aims to partner in healthcare sector, including the supply of generic drugs. iii.This partnership aims to improve healthcare access for both countries. About the meeting: i.This visit is significant because the establishment of diplomatic relations between India and the Dominican Republic it about to enter the 25th year in 2024.
The diplomatic relations between both countries were established in May,1999.
ii.They discussed ways to strengthen cooperation in various fields, such as trade, pharmaceuticals, Information and Communications Technology (ICT), agriculture, food processing, space, higher education, capacity building, Ayurveda, and yoga. Other Political dialogues: i.India and the Dominican Republic are planning to work in the arena of renewable energy, including under the International Solar Alliance (ISA).
The Dominican Republic is in the process of expediting the ratification of the ISA Framework Agreement.
ii.Additionally, the two countries are poised to deepen their engagement in the Coalition for Disaster Resilient Infrastructure (CDRI), with India as co-chair and the Dominican Republic representing Small Island Developing States on the Executive Committee for 2022-2024. iii.Dominican Republic has expressed interest in establishing an Indian Institute of Technology (IIT) within its borders. About Dominican Republic: President – Luis Abinader Capital – Santo Domingo Currency – Dominican Peso
New Drone (Amendment) Rules 2023 by MoCA: Citizens can Become Drone Pilots The Ministry of Civil Aviation (MoCA), under the authority of section 5, sub-section 2 of section 10, and sections 10A, 10B, and 12A of the Aircraft Act, 1934 (22 of 1934), has introduced significant amendments to the Drone Rules in 2023 for drone pilots. The rule is effective from the 27th of September 2023.
As per the new Drone (Amendment) Rules 2023, the mandatory requirement of a passport has been waived to further liberalise, promote and facilitate drone operations across India.
After the amendment, government-issued proof of identity and address, such as Voter ID, Ration Card, or Driving License, can now be accepted to apply for a Remote Pilot Certificate if the drone pilot does not have a passport.
It aligns with the government of India’s vision to position India as a global drone hub by 2030.
Highlights of RBI’s 4th Bi-monthly Monetary Policy for FY24: LAF Stays at 6.50%, FY24 GDP Growth Estimated at 6.5%The Reserve Bank of India (RBI) announced its fourth bi-monthly monetary policy. The RBI Governor Shaktikanta Das-led Monetary Policy Committee (MPC) meeting on October 4-6, 2023, decided to keep the rates and stance unchanged. i.Policy Repo Rate: For the 4th time in a row, the MPC has opted to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50%.
The last adjustment to this rate was a 25-basis point increase to 6.50% during the February 2023 meeting.
RBI Governor pointed out that the full transmission of 250 basis points repo rate reduction is still pending.
The decisions made align with the goal of achieving a medium-term target for the consumer price index (CPI) inflation rate, which is 4 percent with a band of +/- 2 percent.
RBI projects that Inflation is expected to average 5.4% in the fiscal year 2023–2024, which remained unchanged. Additionally, the target for economic growth remains at 6.5% for the same period.
During the sidelines of meeting, RBI announced to double the gold loan limit under bullet payment scheme for Urban Cooperative Banks (UCBs).
RBI’s Policy Rates:
ADB Approves USD 200 Million for Flood & Riverbank Erosion Risk Management Project in AssamThe Asian Development Bank (ADB) has approved a USD 200 million loan to strengthen flood and riverbank erosion risk management along the 650-kilometer (km) long main stem of the BrahmaputraRiver in Assam, India.
The Project activities will be led, managed, and coordinated by the Flood and River Erosion Management Agency of the Assam Government.
The Water Resources Department of the Government of Assam will implement the works and the Assam Agroforestry Development Board will use nature-based solutions.
Objective :The primary goal is to address recurrent flooding and continual riverbank erosion along the Brahmaputra River. Partner Agencies: The Brahmaputra Board, the Assam State Disaster Management Authority, and the Assam Inland Water Transport Development Society will be partner agencies of the project. Background: The project builds on the success of the ADB-financed Assam Integrated Flood and Riverbank Erosion Risk Management Investment Program (2010-2020) and similar investments in Bangladesh. Project Strategy: i.The project employs a comprehensive approach, integrating flood and riverbank erosion risk management with long-term planning. ii.This strategy ensures a more resilient future. A core focus is to enhance climate and disaster resilience and food security. iii.The project empowers women by involving them in disaster-resilient economic activities.
Approximately 1 million individuals will benefit from this initiative, which will also lead to a 50,000-hectare increase in crop production.
Commitment of ADB: i.ADB’s commitment to collaborating with the Assam state government is to transform Assam into a disaster-resilient region. ii.This initiative particularly focuses on mitigating the risks posed by the Brahmaputra River, one of the world’s largest river systems. iii.The project’s innovative and cost-effective approach combines structural and nonstructural measures to strengthen Assam’s ability to manage flood and riverbank erosion risks effectively. iv.ADB’s initiative aims to enhance disaster resilience in Assam, benefiting both the state and its vulnerable communities. Benefits: i.This project will benefit around 1 million people and increase crop production in more than 50000 hectares. The project will secure living spaces, and support livelihoods, by:
stabilizing 60 km of banks;
installing 32 km of pro-siltation measures; and
building 4 km of climate-resilient flood embankments in 5 high-priority districts (Dibrugarh, Goalpara, Kamrup Rural, Morigaon, and Tinsukia).
ii.It will also create employment opportunities, and ultimately enhance the navigability of the river. iii.It will advance the institutional capacity in flood forecasting and warning systems, modern surveys, erosion and embankment breach modeling, asset management, flood risk mapping, land use planning, and pilot nature-based solutions, and the graduation approach. About Asian Development Bank (ADB): President– Masatsugu Asakawa Headquarters– Mandaluyong City, Metro Manila, Philippines Established in– 1966
REC Launches ‘SUGAM REC’, a Mobile App for 54EC Bonds InvestorsREC Limited (formerly Rural Electrification Corporation Limited) launched SUGAM REC, a mobile app for its current and future investors in REC’s 54EC Capital Gain Tax Exemption Bonds.
REC Limited is a Maharatna Central Public Sector Enterprise(CPSE) under the Ministry of Power
Features of the App: SUGAM REC offers the ability to view complete details of their investment in REC 54EC Bonds, including the investment amount, interest rate, and maturity date. About 54EC Bonds: Section 54EC bonds, also known as Capital gain bonds are fixed income instruments which provide capital gains tax exemption. About REC Limited: REC Limited is registered with Reserve Bank of India (RBI) as non-banking finance company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). Chairman & Managing Director (MD) – Vivek Kumar Dewangan Headquarters- New Delhi, Delhi Established in – 1969
SBI launches Mobile Handheld Device to Provide Banking Services to FI Customers The State Bank of India (SBI) has launched a “mobile handheld device” for its financial inclusion customers including senior citizens, differently-abled and the infirm. The device is designed to enhance accessibility and convenience for customers who live in remote areas or have difficulty visiting SBI branches. About the device: i.The device will initially offer five core banking services which account for approximately 75 per cent of the total transactions that SBI’s CSPs conduct.
Cash withdrawal
Cash deposit
Fund transfer
Balance inquiry
Mini statements
ii.The device will be used by Customer Service Point (CSP) agents, who will be able to visit customers’ homes or workplaces to provide banking services. About State Bank of India(SBI): It was established in 1955. The bank is headquartered in Mumbai, Maharashtra.
India’s Fiscal Deficit Rises to Rs 6.42 trillion to Reach 36% of FY24 targetAccording to Controller General of Accounts(CGA), India’s fiscal deficit for the tenure April to August of the financial year 2023-24 (FY24) is at Rs 6.42 trillion. This is 36% of the full-year target of Rs 17.87 trillion.
In the same period of FY2022-23, the fiscal deficit was Rs 5.42 trillion, or 32.6% of the FY23 target Rs16.61 trillion.
Why is the fiscal deficit higher in FY24? i.The fiscal deficit widened mainly because the government spent more on capital expenditure (due to lower tax devolution to state governments) and government’s increase in non-tax revenues. ii.The government aims to reduce the fiscal deficit to 5.9% of the gross domestic product (GDP) for fiscal year 2024. Data & Analytics: i.Capital Expenditure (Capex): Capex during April-August increased to Rs 3.74 trillion from Rs 2.52 trillion in the same period of FY23. ii.Total Receipts: Total receipts during April-August amounted to Rs 10.29 trillion, equivalent to 37.9% of the annual estimate.
Tax receipts contributed Rs 8.04 trillion, which represents 34.5% of the annual estimate.
iii.Corporate Tax Collections: Corporate tax collections surged by over 15% year-on-year to Rs 2.39 trillion during this period. iv.Total Expenditure: The government’s total expenditure for the same period reached Rs 16.72 trillion, accounting for 37.1% of the annual estimate.
This was higher than the expenditure of Rs 13.90 trillion during the corresponding period in the fiscal year 2022-23.
v.Tax Devolution to States: A dip in tax devolution to states in the recent month helped limit the widening of the fiscal deficit.
Net tax revenues for August 2023 were Rs 2.2 trillion, significantly higher than Rs 0.3 trillion in August 2022.
vi.RBI Dividend: The Reserve Bank of India (RBI) approved a dividend transfer of Rs 874.2 billion to the government for FY23.
This transfer is expected to mitigate the impact of potential shortfalls in other government revenue sources and higher expenses.
vii.Revenue Expenditure Breakdown: Of the total revenue expenditure of Rs 12.98 trillion during April-August, Rs 3.7 trillion went toward interest payments, and Rs 1.81 trillion was allocated for subsidies.
Jon Olav Fosse Awarded the Nobel Prize in Literature 2023Jon Olav Fosse of Norway was awarded the Nobel Prize in Literature 2023 “for his innovative plays and prose which give voice to the unsayable”. Fosse is the 4th Norwegian writer to win the Nobel Prize in Literature.
The Nobel Prize in Literature is awarded by the Royal Swedish Academy of Sciences, Stockholm, Sweden.
Fosse writes in Nynorsk, one of the two official written versions of the Norwegian language, the other being Bokmaal.
Click here to view the official link Note: In 1913, Rabindranath Tagore, a renowned Indian poet, musician, and painter, became the first Indian and the first Asian to win the Nobel Prize. He was awarded the Nobel Prize for Literature 1913.
India re-elected as President of AIBD General Conference for 3rd termIndia has been re-elected as President of the Asia-Pacific Institute for Broadcasting Development (AIBD) General Conference (GC) for the 3rd successive term. Previously India served as President of AIBD GC in 2018-2021 and 2021 to 2023.
India is set to lead the international organisation and will leverage itself as the broadcasting and media hub across the Asia Pacific.
Mayank Kumar Agrawal, Director General, Doordarshan is the president of AIBD GC.
AIBD GC and Associated Meetings 2023: i.The AIBD GC and its Associated Meetings is the annual official gathering of AIBD.
The GC is open to member countries, affiliates, partners, observers, and leading broadcasters by invitation only.
ii.The 48th Annual Gathering / 21st AIBD General Conference and Associated Meetings 2023, was held at Balaclava, Mauritius from 2nd to 4th October 2023. iii.It was chaired by its President Gaurav Dwivedi, Chief Executive Officer (CEO) of Prasar Bharati, India’s public service broadcaster.
The two-day Conference was mandated to achieve a vibrant and united electronic media environment in the Asia-Pacific region through policy and resource development.
Note: India has hosted the Governing Council Meetings (GC) in 1978, 1985, 2003, and 2022. AIBD and its Members: i.AIBD is a regional inter-governmental organisation servicing countries of the UN Economic and Social Commission for Asia and the Pacific (UN-ESCAP) in the field of electronic media development.
It was established under the auspices of the United Nations Educational, Scientific, and Cultural Organization (UNESCO).
ii.The AIBD currently has 26 Full Members (countries), represented by 43 organisations, and 50 Affiliate Members (organisations) with a total membership of 93 representing 46 countries and regions and over 50 partners in Asia, Pacific, Europe, Africa, Arab States, and North America. iii.The 26 full members of AIBD are the governments of the respective countries. The full member countries are represented by their broadcasting authorities and broadcasters. India in AIBD: i.India is one of the founding members of AIBD. ii.Prasar Bharati, India’s public service broadcaster, represents the Ministry of Information and Broadcasting(MIB), Government of India, at the Asia-Pacific Institute for Broadcasting Development.
The elevation of India and Prasar Bharati in international broadcasting not only elevates their status but also paves the way for strategic advancements.
About Asia-Pacific Institute for Broadcasting Development (AIBD): Secretary to the GC & Director (AIBD)– Ms Philomena Gnanapragasam (ex-officio) Headquarters– Kuala Lumpur, Malaysia Established in-1977
Supreme Court Appoints Sign-Language Interpreter to Help Hearing-Impaired Lawyers Chief Justice of India (CJI) D Y Chandrachud announced the appointment that the Supreme Court of India has allowed the appointment of a sign-language interpreter. This will ensure that hearing-impaired lawyers and litigants, can fully comprehend and participate in judicial proceedings.
On 22 September 2023, the CJI presided over a bench heard with the hearing-impaired lawyer Sarah Sunny through sign-language interpreter Saurav Roy Chowdhury in a case related to the rights of persons with disabilities (PwD).
Sarah Sunny had earlier filed an application before the Supreme Court Registry requesting a court-appointed Indian Sign Language (ISL) interpreter to assist her.
In 2022, the CJI constituted a Supreme Court committee on accessibility dedicated to addressing the challenges faced by specially-abled individuals.
Note:
Bengaluru(Karnataka)-based Sara Sunny, India’s first lawyer with hearing and speech impairments, argued her case before the Supreme Court with the assistance of a court-appointed interpreter.
Sara Sunny became the second deaf advocate in India. The first deaf advocate enrolled with the Bar Council of Delhi is Saudamini Pethe of Mumbai(Maharashtra).
ICCR & SPPU Partnered to Launch UTIKS, an Online Portal to Promote Indian Culture WorldwideThe Indian Council for Cultural Relations (ICCR) in partnership with Savitribai Phule Pune University (SPPU), formerly known as the University of Pune, in Maharashtra organised the soft launch of an online platform “Universalisation of Traditional Indian Knowledge System (UTIKS) Portal” at Manipal Academy of Higher Education (MAHE), Manipal, Karnataka.
The portal was soft-launched by Dr. Vinay Sahasrabuddhe, President, ICCR
UTIKS, an initiative of the ICCR, with a mission to introduce Indian culture to a worldwide audience and present its rich civilization and culture in a learner-friendly manner.
Objective: The Portal is aimed at spreading knowledge and authentic information about Indian culture to those new to Indian culture. It will restore India’s cultural dignity, which aims to showcase India’s rich knowledge culture to the world. Key People: Kumar Tuhin, Director-General, ICCR; Dr. Narayan Sabhahit, Pro-Vice-Chancellor, MAHE; Dignitaries and Officials from the state government of Karnataka and international students form MAHE wer present during the launch. Features: i.The UTIKS online platform offers a vast array of short courses focussed on Traditional Indian Knowledge. ii.This platform will serve as an authentic single-window source for introductory-level knowledge on a range of subjects under the Traditional Indian Knowledge System. iii.SPPU contributts its academic framework for UTIKS capsules. Each UTIKS capsule consists of a 30-minute video segment, including organized video and audio content, images, interviews, and demonstrations. Benefits: i.UTIKS offers a refined exploration to those who may already have a foundational understanding but would be seeking a deeper understanding of diverse subjects. ii.UTIKS provides an integrated platform and portal for online courses in Distance Learning Mode, accessible on various devices, from PCs and laptops to smartphones and tablets. iii.UTIKS caters not only to foreigners seeking to unlock the beauty of Indian culture but also to residents of India who may be unaware of the depth and richness of their own heritage. Highlights: i.5 of the UTIKS capsules ‘Architecture of India’, ‘Cuisine of India’, ‘Attires of India’, ‘Introduction to Indian Cinema’, and ‘Ramayana and Mahabharata’ were presented during the launch on 5th October 2023.
7 more UTIKS capsules on diverse subjects are under different stages of preparation and will be available online shortly.
ii.A presentation on UTIKS showcasing videos of the 5 capsules on Indian culture with a brief narration was also presented.
Badis limaakumi: New Species of Badis Fish Discoverd from NagalandScientists have discovered a species of Badis fish (fresh water fish), “Badis limaakumi”, from the Milak River in the Mokokchung district of Nagaland. The new species is named after Limaakum, assistant professor and head of the zoology department at Fazl Ali College, Nagaland.
Badis is a species of Asian freshwater fish in the family Badidae, order Perciformes and class Teleostei.
Fish of Badis genus are also known as chameleon fish for their ability to change colour.
Note: In biology, the word family describes the broadest group category, then genus describes a group of closely related species, and then species. Discovery: Limaakum discovered the new fish during the project “Integrated Taxonomic Studies on The Fishes Found in The Rivers of Nagaland”.
The findings have been published in the journal Zootaxa(Biotaxa.org).
About Badis limaakumi: i.Badis limaakumi have a distinct opercular splotch at the base of its opercular spine, a bone series that serves as a support structure for the face as well as a protective covering for the gills. ii.This species lacks markings on the sides and cleithrum (a membrane bone), as well as more lateral line scales. iii.Badis limaakumi belongs to the Badis assamensis Sub Group(GP) (i. e. B. assamensis and B. blosyrus), which is characterised by a distinct, dark opercular blotch.
B. assamensis and B. blosyrus can be distinguished from B. limaakumi by the presence of two rows of irregular blackish blotches on the sides, which are absent in B. limaakumi.
iv.Badis limaakumi is also one of the largest speciesin Badis genus, the other being Badis assamensis.
Badis limaakumi attains a size of 66.8 millimetres of Standard length where standard length (SL) was the way of measuring fish from the snout to the end of the vertebral column.
Key Points: i.The Badidae family are small freshwater fishes found in streams with slow or moderate water flow. They are also found in ditches and stagnant water bodies across India, Bangladesh, Nepal, Pakistan, Thailand and Myanmar. ii.There are 26 recognised fish species in Badidae family and there are 15 valid species of Badis genus from India including Badis limaakumi.
World Cotton Day 2023 – October 7The United Nations (UN)’s World Cotton Day (WCD) is annually observed across the globe on 7th October to highlight the role of cotton in creating jobs and maintaining economic stability in cotton-producing countries, particularly in least-developed countries (LDCs).
7th October 2023 marks the observance of the 5th World Cotton Day.
The theme of World Cotton Day 2023 is “Making cotton fair and sustainable for all, from farm to fashion”. The first World Cotton Day was observed on 7th October 2019 and hosted by World Trade Organization (WTO) in Geneva, Switzerland About World Trade Organization (WTO): Director-General – Ngozi Okonjo-Iweala Headquarters – Geneva, Switzerland Eastablished in – 1995
Rajasthan Govt Announces 3 New Districts Malpura, Sujangarh, and Kuchaman City in RajasthanRajasthan Chief Minister (CM), Ashok Gehlot, announced the formation of 3 new districts: Malpura, Sujangarh, and Kuchaman City in Rajasthan during the Gau Seva Sammelan in Jaipur, Rajasthan.
The decision to establish these new districts was based on both public demand and recommendations provided by a high-level committee.
With the addition of the 3 districts, the total number of districts in Rajasthan has now reached 53.
Note: Previously in March 2023, Ashok Gehlot-led Rajasthan government formed 19 new districts and 3 new divisional headquarters in Rajasthan. About Rajasthan: CM– Ashok Gehlot Governor– Kalraj Mishra Airports– Jodhpur Airport and Jaisalmer Airport
Yogi Adityanath Declared Gangetic Dolphin as State Aquatic Animal of UP Chief Minister(CM) of Uttar Pradesh (UP) Yogi Adityanath has declared the Ganges River Dolphin (Platanista gangetica) as the state aquatic animal. About Gangetic Dolphin: i.Gangetic dolphins live in the Ganga, Yamuna, Chambal, Ghaghra, Rapti, and Gerua rivers in UP. ii.Gangetic Dolphin are listed as Endangered in the International Union for the Conservation of Nature(IUCN) Red List. iii.The Gangetic dolphin is a sensitive species that can tell us about the overall health of the Ganga ecosystem and the other species that live there.
It is very vulnerable to changes in water quality and flow.
India’s Natural Gas Demand to rise 4% in 2023: IEA ReportThe International Energy Agency (IEA) released its ‘Gas 2023 Medium-Term Market Report‘. As per it, India’s natural gas demand is expected to rise by 4% in 2023 calendar year and will continue to increase at an average annual rate of about 8% till 2026.
This growth will be driven by power, petrochemical and fertiliser sectors.
Key Points: i.India’s primary gas supply rising by 2% in the first eight months of 2023. ii.After a sharp 6% drop in 2022, India’s liquefied natural gas (LNG) imports rose by 8% in the first eight months of 2023 compared to the same in 2022. iii.In India, an increase of over 20 billion cubic metres (bcm) of natural gas is expected for 2022-2026 period. iv.Spot LNG prices fell below USD15 per metric million British thermal unit (MMBTU) threshold since June 2023 which led to increased demand from the industry and power sector. v.In April 2023, India commissioned the Dhamra LNG terminal, increasing its total regasification capacity by 10%.
Regasification is the process of converting the LNG back to its gaseous state by heating it, after which it is transported through pipelines.
Global Scenario: i.Global gas demand is expected to increase by 1.6% annually from 2022 to 2026, down from the previous average of 2.5% per year from 2017 to 2021. ii.Global LNG capacity is expected to expand by 25% between 2022 and 2026, iii.United States (US) will retain position as the world’s largest LNG exporter. iv.Overall gas demand Asia Pacific, Europe and North America is forecast to decline by 1% annually through to 2026. About International Energy Agency (IEA): Executive Director– Dr Fatih Birol Headquarters– Paris, France Establishment– 1974
DAHD Launched ‘A-HELP’ Programme to Empower Women and Signed MoU with NRLM at Jharkhand The Department of Animal Husbandry and Dairying (DAHD) under the Ministry of Fisheries, Animal Husbandry and Dairying(MoFAHD) launched the ‘A-HELP’ (Accredited Agent for Health and Extension of Livestock Production) program in Jharkhand.
The initiative was launched through a Memorandum of Understanding (MoU) between DAHD and National Rural Livelihoods Mission (NRLM) under the Ministry of Rural Development (MoRD).
Badal Patralekh, Minister of Agriculture, Animal Husbandry & Co-operative, Govt. of Jharkhand was the chief guest of the launch programme.
About A-HELP: i.Aim: To empower women by engaging them as Accredited Agents who contribute to essential tasks such as disease control, animal tagging, and livestock insurance. ii.A-HELP will enhance access to veterinary services at farmers’ doorsteps, empowering ‘Pashu Sakhis’. This will serve as an integration of women’s empowerment, and fostering socio-economic advancement. iii.A-HELP will effectively bridge the gap between local veterinary institutions and livestock owners, provide primary health services, and act as both a Livestock Resource Person and a Primary Service Provider. iv.A-HELP has already been initiated across 6 states including Bihar, Gujarat, Karnataka, Madhya Pradesh, Uttarakhand, and Jharkhand, and one Union Territory (UT) Jammu and Kashmir(J&K).
RBI to Apply PCA Supervisory Guidelines to Government-Owned NBFCs Starting October 2024;RBI Instructs BoB to Stop Customer Onboarding on Mobile AppThe Reserve Bank of India (RBI) announced that it will apply strict supervisory norms under the Prompt Corrective Action (PCA) Framework to government-owned Non-Banking Financial Companies (NBFCs) starting from October 2024. This move has significant implications for these government-owned NBFCs.
Major government-owned NBFCs that will be subject to the PCA Framework include entities like Power Finance Corporation (PFC), Rural Electrification Corporation (REC), Indian Railway Finance Corporation (IRFC), and Industrial Finance Corporation of India (IFCI).
i.Application of PCA to Government-Owned NBFCs: RBI has decided to extend the PCA framework to all deposit taking government NBFCs and non-deposit taking government NBFCs in middle, upper and top Layers (excluding base layer) with effect from October 1, 2024.
This extension is based on the audited financials of the NBFC as of March 31, 2024, or subsequent dates.
ii.The Reserve Bank of India, under section 35A of the Banking Regulation Act, 1949, has ordered Bank of Baroda to immediately suspend the process of adding more customers to the ‘bob World’ mobile application.
Unemployment rate at 6-year low of 3.2% in 2022-23: 6th NSSO Annual PLFSi.On October 9, 2023, the National Sample Survey Office (NSSO), Ministry of Statistics and Programme Implementation (MoSPI) released the 6th Annual Report ‘Periodic Labour Force Survey (PLFS) [July, 2022 – June, 2023]’ stating Unemployment rate (UR) at 6-year low of 3.2% in 2022-23 under the Usual Status (ps+ss). It was 6% in 2017-18. ii.The UR in Current Weekly Status (CWS) decreased to 5.1% in 2022-23. It was 8.7% in 2017-18 iii.The UR under the Usual Status during the one-year period declined for the 5th consecutive year since it was launched in April 2017 while under CWS it decreased for the 3rd consecutive year since April 2017. iv.The 6th annual report by NSSO is premised upon the PLFS conducted during July 2022-June 2023. v.At all India level, Labour Force Participation Rate (LFPR) increased to 57.9% in 2022-23 from 55.2% in 2021-22 under Usual Status (ps+ss). About Ministry of Statistics and Programme Implementation (MoSPI): Minister of State (Independent Charge)– Rao Inderjit Singh (Constituency- Gurugram, Haryana) Secretary– DR. G P Samanta
Skyroot Signs Two MoUs with French Space Firms to Launch SatellitesSkyroot Aerospace Private Limited, a Hyderabad (Telangana) -based space startup, has signed two memoranda of understanding (MoUs) with two France-based Space firms Promethee Earth Intelligence and ConnectSAT.
The satellites of the French space firms are set to be launched on Vikram-I of the Skyroot.
About the MoU with Promethee: i.Skyroot signed an MoU with Promethee to launch its Japetus earth observation constellation onboard Skyroot’s Vikram rockets.
The MoU was signed by Olivier Piepsz, Co-Founder and CEO of Prométhée, and Co-Founders of Skyroot Aerospace, Pawan Chandana and Bharath Daka.
Skyroot’s Vikram launch vehicles were an ideal choice due to the specific orbital requirements required by 50% of Prométhée’s satellites.
About the MoU with ConnectSAT: i.Skyroot signed a trilateral MoU with ConnectSAT and Expleo to launch ConnectSAT’s OSIRIS satellite constellation onboard Skyroot’s Vikram rockets.
As part of the MoU, Expleo provides reconfigurable software for ConnectSAT’s Internet of Things (IoT) satellite.
The OSIRIS satellite constellation is built for various social applications and monitoring and surveillance solutions.
The trilateral MoU was signed by Abdoulahi Ben Moussa Dia, Chief Executive Officer (CEO) of ConnectSAT, Frédérique Rebout, Director Alliances and Partners at Expleo, and Co-Founders of Skyroot Aerospace, Pawan Kumar Chandana and Naga Bharath Daka.
About Skyroot Vikram series rockets: i.Skyroot launched India’s first privately-built rocket ‘Vikram-S’ under the mission “Mission Prarambh” (the beginning) in 2022.
Vikram-S is a single-stage solid-fuelled sub-orbital rocket capable of carrying an 80 kg payload.
Vikram rocket was named after Vikram Sarabhai, founder of the Indian Space Program.
ii.Vikram series rockets are modular Space launch vehicles especially crafted for carrying small satellites and developed using advanced technologies including 3D printing, and carbon composite bodies.
About Vikram-I: The Vikram-I rocket is capable of carrying a load of up to 480 Kilograms (kg) into 500 Kilometre (km) the Low Earth orbit (LEO) and a load of 290 kg into a 500 km Sun Synchronous Polar Orbit (SSPO).
About Vikram-II: The Vikram-II is capable of carrying a load of up to 595 kg into 500 km of the LEO and a load of 400 kg into a 500 km SSPO.
About Vikram-III: The Vikram-III is capable of carrying a load of up to 815 kg into 500 km of the LEO and a load of 560 kg to 500 km SSPO.
About Skyroot Aerospace Private Limited: Co-founder and Chief Executive Officer (CEO)– Pawan Kumar Chandana Headquarters– Hyderabad, Telangana Established in – 2018
HDFC AMC’s Navneet Munot elected as Chairman of AMFI; Anthony Heredia elected as Vice ChairmanNavneet Munot, Managing Director (MD) and Chief Executive Officer (CEO) of HDFC Asset Management Co. Ltd (AMC), has been elected as the Chairman of Association of Mutual Funds in India (AMFI). He will take charge as chairman on 16th October 2023, succeeding A Balasubramanian, MD & CEO of Aditya Birla Sun Life Asset Management Co. Ltd. Note:
The election took place at the 28th Annual General Meeting (AGM) of AMFI in September 2023.
AMFI is a nodal association of mutual funds across India.
Anthony Heredia Elected Vice Chairman of AMFI: Anthony Heredia, MD, and CEO of Mahindra Manulife Mutual Fund, was elected as Vice Chairman of AMFI.
He will take charge on 16th October 2023, succeeding Radhika Gupta, MD & CEO of Edelweiss Asset Management Ltd.
About NavneetMunot: i.He has been serving as MD and CEO of HDFC AMC since 2021 and has over 3 decades of experience in the financial service. ii.Previously, he served as Executive director and Chief Investment officer(CIO) of SBI Funds management Private Limited. He also served as the Director on the board of SBI Pension Funds (P) Limited. iii.He was the Executive Director and Head ( multi-strategy boutique) at Morgan Stanley Investment Management briefly for a year in 2007. iv.He has also served as the Chief Investment Officer – Fixed Income and Hybrid Funds at Birla Sun Life Mutual Fund. v.He is also the chairman of the Indian Association of Investment Professionals(IAIP). About Anthony Heredia: i.Anthony Heredia has been serving as MD and CEO of Mahindra Manulife Mutual Fund since 2022 and has over 26 years of experience in the investment management industry. ii.He served as the MD of Morgan Stanley Investment Management, CEO & Whole Time Director of Baroda Asset Management India Limited. iii.He has also served as the CEO of Bank of India Investment Managers Private Limited (formerly BOI Star Investment Managers Private Limited/ BOI Axa Investment Managers Pvt. Ltd). About Association of Mutual Funds in India (AMFI): CEOs– N. S. Venkatesh and Balkrishna Kini Headquarters– Mumbai, Maharashtra Incorporated on– August 22, 1995 AMFI is the association of all the AMCs of the Securities and Exchange Board of India (SEBI) registered mutual funds in India. As of now, all the 44 AMCs that are registered with SEBI, are its members.
Kumar Sangakkara Appointed as New Chair of MCC’s World Cricket Committee The Marylebone Cricket Club (MCC) has appointed former Sri Lankan Cricket Captain Kumar ChokshanadaSangakkara as the new Chair of MCC’s World Cricket Committee(WCC).
He will succeed former England captain MikeGatting, who has held the post since 2017.
Kumar Sangakkara is currently the Director of Cricket and the Head Coach of the Rajasthan Royals in the Indian Premier League (IPL).
He was awarded Honorary Life Membership of the Club, in 2011. In the same year, he joined MCC’s World Cricket committee and remains an active member.
He was appointed to represent the WCC on the MCC Committee in 2022.
He served as the President of the MCC from 2019-21; He became the 1st non-British President of MCC.
Former England Cricketer Mark Charles Jefford Nicholas will serve as the new President of MCC. He was elected to MCC membership in 1981. About MCC:
MCC’s World Cricket Committee, established in April 2006, is an independent body comprised of current and former international cricketers and umpires from across the globe.
WCC includes other exceptional cricketers such as Sourav Chandidas Ganguly (India), Heather Clare Knight(England), Justin Lee Langer(Australia), Eoin Joseph Gerard Morgan(England & Ireland) and Graeme Craig Smith(South Africa).
Maharashtra Deputy CM AjitPawar Resigned as Director of Pune District Central Cooperative Bank AjitPawar, Deputy Chief Minister (Dy CM) of Maharashtra, has resigned as a Director of the Pune District Central Cooperative Bank Ltd (PDCC) citing increase in workload after becoming Dy CM of Maharashtra.
DigambarDurgade, the President of PDCC has accepted Ajit Pawar’s resignation. Ajit Pawar has been a director of PDCC for 32 years since 1991.
He served as one of the directors on the board of 19 directors of PDCC.
In July 2023, he was sworn in as the 9th Dy CM of Maharashtra for an unprecedented 5th time (November 2010-September 2012; October 2012-September 2014; November 23-26, 2019; December 2019-June 2022; June 2023-present).
He is currently heading the Ministries of Finance and Planning as a cabinet-level Minister in the Maharashtra Govt.
In July 2023, Ajit Pawar split from the Nationalist Congress Party (NCP) led by Sharad Pawar and joined the Shiv Sena-Bharatiya Janata Party(BJP) government.
SBIFML Fund Gets RBI Approval to Acquire Upto 9.99% Stake in IndusInd BankSBI Funds Management Limited (SBIFML) has received the Reserve Bank of India(RBI)‘s approval to acquire up to a9.99% paid-up share capital in IndusInd Bank Limited.
This acquisition will allow the company to also hold 9.99% voting rights in the bank.
The approval has been granted with reference to the application made by SBIFML to RBI.
Condition in acquisition: i.The holding of SBIFML in IndusInd Bank should not exceed 9.99 % of the paid-up share capital or voting rights of the Bank at all times. ii.The RBI has given SBIFML one year time (till 10th October, 2024) to buy the shares of IndusInd Bank. Compliance: The approval granted by RBI is subject to compliance with
Relevant provisions of the Banking Regulation Act, 1949
RBI’s master direction and guidelines on the acquisition and holding of shares or voting rights in banking companies dated January 16, 2023
Provisions of the Foreign Exchange Management Act(FEMA), 1999
Regulations issued by the Securities and Exchange Board of India (SEBI).
About SBI Funds Management Limited (SBIFML): SBIFML is a joint venture between State Bank of India(SBI) and AMUNDI Asset Management through a wholly owned subsidiary Amundi India Holding. SBI holds 63% stake and AMUNDI Asset Management holds 37%. Managing Director(MD) & Chief Executive Officer(CEO) – Shamsher Singh Headquarters – Mumbai, Maharashtra Established in – 1987 About IndusInd Bank Limited(Ltd): Managing Director(MD) & Chief Executive Officer(CEO) – Sumant Kathpalia Headquarters – Mumbai, Maharashtra Established in – 1994 Tagline – We Make You Feel Richer
CCI Approved Acquisitions Involving Hitachi Astemo Ltd The Competition Commission of India (CCI) has approved the following acquisition involving Hitachi Astemo Limited(HAL), a Japanese public limited company that manufactures auto parts for automobiles and two-wheeled motor vehicles in India.
HAL was formed in 2021 by the merger of four Hitachi Automotive companies.
Acquisitions in HAL by JICC-01 : CCI approved the acquisition of 20% voting rights in HAL by JICC-01 Limited Partnership, along with certain control rights, board representation, and other rights.
The JICC-01 Limited Partnership, managed by JICC G.K., is a a wholly owned subsidiary of JIC Capital, Ltd.
JIC Capital is a wholly owned subsidiary of Japan Investment Corporation (JIC).
JIC was founded in 2018, is a sovereign wealth fund of the Government of Japan.
Acquisitions in HAL by HMCL: CCI approved the acquisition ofan additional 6.6% voting stake in HAL by Honda Motor Company Limited (HMCL). With this, 40% of the voting rights in HAL is held by HMCL.
HMCL is a Japanese public limited company that manufactures and sells automobiles, two-wheelers, power products, and auto parts in India.
Acquisitions of HAL in HAEMS: CCI approved the acquisition of 49% stake in Hitachi Astemo Electric Motor Systems (HAEMS) by HAL. With this HAL holds the 100% shareholdings of HAEMS.
HAEMS is a Japanese company that develops, manufactures, and sells motors for electric vehicles.
European’s First Private Rocket MIURA 1 SN1 was Launched by PLD SpaceThe first private suborbital European rocket MIURA 1 SN1 was launched by Spanish space company PLD Space.
The reusable rocket was launched fromEl Arenosillo Experimentation Centre (CEDEA) of Spanish National Institute for Aerospace Technology (INTA) in Huelva, Spain.
MIURA1 SN1: i.The rocket is of 12.5meters in length with a propellent system of Kerosene and Cryogenic liquid oxygen(KeroLOX) ii.The rocket has TEPREL-B Liquid Bi-propellant engine developed by PLD Space.
In 2021, it became the first KeroLOX rocket engine developed in Europe for space flights.
iii.The rocket had a Nominal payload mass of 100 kilograms. iv.The Miura-1 rocket has been named after a breed of fighting bull. Aim: i.The first flight of the MIURA 1 SN1 technology demonstrator aims to collect data about the flight performance of the rocket and its systems, ii.These data will be used to validate the design and technology of the MIURA 5 orbital launch vehicle which is planned to be launched in 2025. iii.The rocket also aims to conduct scientific research under microgravity conditions. About the launch: The launch also tested a technological device from the German Centre for Applied Space Technology and Microgravity (ZARM) under microgravity conditions. Significance: i.With this launch, Spain has now joined the elite club of nations that can launch rockets into space. ii.Spain has become the tenth country to reach space. Other nine countries are Russia, the United States of America(USA), France, Japan, China, India, Israel, Iran and North Korea. Additional info: Europe had relied on Ariane 5 (Europe’s largest rocket) for heavy payloads, Russia’s Soyuz rocket for medium payloads, and Italy’s Vega rocket for small payloads.
In July 2023, Ariane 5 was retired after its final launch from Kourou, French Guiana. Ariane 6’s entry is also delayed.
About PLD Space: Raúl Verdú & Raúl Torres are the Co-Founders of PLD Space. Co-Founder & Chief Executive Officer(CEO) – Raúl Torres Headquarters – Elche, Spain Established in – 2011
Sanskrit Scholar & Padma Shri Awardee Dahyabhai Karunashankar Shastri Passed AwayPadma Shri Awardee Dr. Dahyabhai Karunashankar Shastri, a renowned Indian Sanskrit scholar and founder of Brahmarshi Sanskrit Mahavidyalaya, Nadiad(Gujarat) , has passed away at the age of 98 in Nadiad, Gujarat. He was born on 26 February 1926 in Mehsana, Gujarat. About Dr.DahyabhaiKarunashankarShastri: i.Dr. Shri Dahyabhai Karunashankar Shastri was a distinguished Sanskrit scholar in India, holding titles like Vyakaranacharya, Sahitacharya, and Hindi Visharad. ii.From January 19, 1950, he was engaged in teaching at Petlad Political Sanskrit Mahavidyalaya school in Gujarat.
He served as both the school’s Principal and as an Inspector of the Gujarat State Sanskrit Department and retired in 1984.
iii.After retirement, he establishment of Shri Brahmarshi Sanskrit Mahavidyalaya College at Brahmarshi Sanskar Dham in Nadiad in 1995.
He is known as the pioneer of Brahmarshi Sanskrit Mahavidyalaya.
This unique institution featured a Sanskrit college, a well-equipped library, student hostels, a canteen, three temples and Matru-Ritu social service.
Awards: i.In 2000, Sandipani Gaurav Awards conferred Dr. Dahyabhai Karunashankar Shastri with one of its category awards named the “Brahmarshi Award“.
Brahmarshi Awards are given to the scholar who has done outstanding work in the field of Vedic literature since 1996.
ii.In 2016, he was awarded the ‘Padma Shri’ in the field of Literature and Education
First National Current Good Manufacturing Practices Day – 10th October 2023The inaugural National Current Good Manufacturing Practices(cGMP) Day was celebrated across India on 10th October 2023. The day aims to create awareness about the critical role of cGMP in the pharmaceutical industry, ensuring the quality and safety of medicinal products.
The theme of National cGMP Day 2023 is “cGMP: Transforming Healthcare”.
Background: i.Indian Drug Manufacturers’ Association (IDMA), under the guidance from the Ministry of Health and Family Welfare and Ministry of Chemicals and Fertilisers, initiated the plan to observe 10th October of every year as “National Current Good Manufacturing Practices Day” or “National cGMP Day”.
10th October 2023 marks the first ever National cGMP day.
ii.The idea of National cGMP Day was proposed by Girish Pai Kand, Coordinator at the Centre for cGMP, at Manipal College of Pharmaceutical Sciences (MCOPS), Manipal Academy of Higher Education (MAHE). Purpose: The day aims to empower the pharmaceutical industry to develop a culture of quality medicine production, which will improve patient safety. Why 10th October? On 10th October 1962, International Drug Regulators approved a framework which mandates drug manufacturers to scientifically prove that a medication will be safe and effective.
This approval is the aftermath of Thalidomide disaster.
What is Thalidomide disaster? i.The Thalidomide disaster was a major public health crisis that occurred in the late 1950s and early 1960s. ii.Thalidomide was a drug that was widely prescribed to pregnant women for morning sickness. iii.However, it was later discovered that Thalidomide caused severe birth defects, including missing or underdeveloped limbs. Events: i.The Inaugural National cGMP Day was celebrated in MAHE by conducting three symposiums, a mini workshop, and a panel discussion by industry experts. ii.The sessions also cover current trends in cGMP compliance, including recent international regulatory updates, products for global markets, and the future of cGMP compliance. GMP in India: i.In August 2023, MoH&FW had instructed pharmaceutical companies to comply with World Health Organization (WHO) Good Manufacturing Practices (GMP) standards to ensure the quality of their products for domestic use and export. ii.In July 2023, Schedule M of the Drugs and Cosmetics Rules, 1940, which specifies the requirements for Good Manufacturing Practices (GMPs), was upgraded to international standards. About Centre For Current Good Manufacturing Practices (cGMP): i.Centre for cGMP is the first of its kind pharmaceutical institute in India ii.It was established on 11th February 2021 in Manipal, Karnataka. iii.The centre is the brainchild of Girish Pai Kand.
World Arthritis Day 2023 – October 12World Arthritis Day(WAD) is annually observed across the globe on October 12 to raise awareness of Rheumatic and Musculoskeletal Diseases (RMDs) and its impact on people lives. The day also highlights the importance of early diagnosis and treatment.
12th October 2023 marks the observance of 28th WAD.
The theme of WAD 2023 is “Living with an RMD at all stages of life”. Background: i.World Arthritis Day was first established in 1996 by Arthritis and Rheumatism International (ARI). ii.The first WAD was celebrated on 12th October 1996 and the event has been held annually ever since. About the European Alliance of Associations for Rheumatology (EULAR): EULAR is the European umbrella organisation representing scientific societies, health professional associations and organisations for people with RMDs. President- Daniel Aletaha (Austria) Headquarters- Zürich, Switzerland Established in – 2000
World Sight Day 2023- October 12World Sight Day (WSD) is annually observed across the globe on the second Thursday of October to focus the world’s attention on eye health as a global issue and to recognise the work done by the thousands of ophthalmologists across the world to fix the problem of vision impairment.
World Sight Day is also known as ‘World Eye Day’ or ‘World Vision Day’.
WSD 2023 falls on 12th October 2023.
WSD 2022 was observed on 13th October 2022 and WSD 2024 will be observed on 10th October 2024.
The 2023 theme of World Sight Day is, “Love Your Eyes at Work” WSD is coordinated by the International Agency for the Prevention of Blindness (IAPB).
Himachal Pradesh Cabinet Approves Various Initiatives across Various SectorsThe Himachal Pradesh (HP) Cabinet meeting, chaired by Chief Minister (CM) Thakur Sukhvinder Singh Sukhu, approved ‘Van Mitra’ Scheme, a community based forest conservation scheme.
Cabinet Approval on 4th October 2023 On October 4th, 2023, the Union Cabinet chaired by the Prime Minister (PM) Narendra Modi has given its approval for multiple initiatives and they are as follows
Cabinet approves Revised Cost of completion of balance works of North Koel Reservoir Project in Bihar & Jharkhand
Cabinet approves setting up of Sammakka Sarakka Central Tribal University
Cabinet approves Terms of Reference to Krishna Water Dispute Tribunal-II under Inter State River Water Disputes (ISRWD) Act, 1956
Centre notifies establishment of National Turmeric Board
DPIIT & Gati Shakti Vishwavidyalaya Signed MoU to Advance National Master PlanThe Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, and the Gati Shakti Vishwavidyalaya (GSV), Gujarat based central university, have signed a Memorandum of Understanding (MoU) to advance Pradhan Mantri Gati Shakti (PMGS) National Master Plan(NMP).
The MoU aims to advance India’s infrastructure and logistics sectors.
About GatiShakti Vishwavidyalaya (GSV): GSV, formerly known as the National Road Transport Institute (NRTI), India‘s first Railway University and the world’s third, following Russia and China, which was dedicated to India in December 2018. Location– Vadodara, Gujarat.
Highlights of PM Modi’s Visit to Telangana – 1 & 3 October 2023Prime Minister Narendra visited Telangana on the 1st and 3rd of October 2023.
On 1st October 2023, he laid the foundation stone and dedicated to the nation multiple developmental projects worth more than Rs 13,500 crore in Mahbubnagar, Telangana.
On 3rd October 2023, he laid the foundation stone and dedicated various development projects worth Rs 8000 crores in Nizamabad, Telangana.
Highlights: i.Laid foundation stone for road projects related to Nagpur – Vijayawada Economic Corridor ii.Dedicated road project related to Hyderabad – Visakhapatnam Corridor developed under Bharatmala Pariyojana. iii.He dedicated the ‘Hassan-Cherlapalli LPG Pipeline Project’ and laid the foundation stone for “Multiproduct Petroleum Pipeline” of Bharat Petroleum Corporation Ltd (BPCL). About Telangana: Chief Minister– K. Chandrashekar Rao Governor– Tamilisai Soundararajan National Parks– Kasu Brahmananda Reddy National Park; Mahaveer Harina Vanasthali National Park; Mrugavani National Park
India-Bangladesh holds Joint Military Exercise SAMPRITI-XI 2023Exercise SAMPRITI-XI 2023, an annual joint military exercise between India and Bangladesh is held in Umroi, Meghalaya, for 14 days from 3rd October to 16th October 2023
This is the 11th edition of the Exercise, which strengthens India-Bangladesh defence cooperation by promoting stronger bilateral connections, cultural understanding, and reciprocal benefits from shared experiences.
It emphasizes the necessity of improving interoperability between the armies, as well as sharing tactical drills and encouraging best practises.
Note:
The 1st edition of Exercise SAMPRITI was held in Jorhat, Assam in 2009.
The 10th edition of Exercise was conducted at Jashore Military Station in Bangladesh in 2022.
About the Ex SAMPRITI-XI: i.Ex SAMPRITI-XI will include a Command Post Exercise (CPX), a Field Training Exercise (FTX), and a Validation Exercise based on the conduct of Sub-Conventional Operations as per Chapter VII of the UN mandate. ii.Command Post Exercise (CPX): 20 Officers from each contingent focusing on decision-making after thorough deliberations. iii.Field Training Exercise (FTX): grassroots-level operations will be validated including a series of joint tactical drills for counter-terrorist operations such as hostage rescue, crowd control measures, and use of helicopters. The Validation Exercise will be conducted on 14th and 15th October 2023 in Darranga Field Firing Range, Assam. Participants: i.From India: The Indian contingent led by Brigadier S K Anand, Commander of the Mountain Brigade.
Indian contingent mainly comprises troops from a battalion of the RAJPUT Regiment.
ii.From Bangladesh: The Bangladesh contingent led by Brigadier General Mohammed Mafizul Islam Rashed, Commander of 52 Bangladesh Infantry Brigade.
The 27 Bangladesh Infantry Regiment is the lead unit from the Bangladesh contingent.
A total of 170 personnel from Bangladesh participated in this exercise.
iii.The Exercise will witness the participation of 350 personnel from both sides and the participants are set to witness the prowess of the ‘Atmanirbhar Bharat’ Equipment Display. About Bangladesh: Prime Minister (PM)– Sheikh Hasina Capital – Dhaka Currency – Bangladeshi Taka
IndusInd Bank Launches ‘INDIE’, a Customer Oriented Digital Banking AppIndusInd Bank Limited launched INDIE, a customer centric digital mobile banking application(app), to empower customers with an all-in-one digital financial solution. This hyper-personalized financial super-app utilises the advanced analytics to provide personalized insights to its customers.
The app leverages advanced analytics to provide personalized insights to its customers such as smart reminders, expense tracking, and spending insights..
Key features: The app offers a number of industry-first features, including ultra-flexible products that can be customized to meet specific needs of the customer. This includes i.A range of financial products that can be customized to meet the individual needs of each customer. For example, customers can get an instant line of credit up to Rs 5 lakh, with the flexibility to choose only the amount they need and set their own loan tenor. ii.INDIE offers a choice of account number, high-interest-bearing savings account (upto 6.75% per annum(p.a.) return) and fixed deposits(FD) that offer exclusive returns of up to 7.85% p.a.
The customer can also link FD to savings account so that customers can pay with fixed deposit when savings balance is low.
ii.INDIE also offers a transparent rewards program where customers can choose their favorite brands from leading e-commerce platforms.
Customer can earn upto 3% rewards per Rs 100 spend (1 reward point valued at Rs 1)
Safety & Security Features: INDIE’s offers several industry-first safety and security features like
Numberless debit cards – These cards do not have the traditional card details, such as the card number, expiration date, and CVV (Card Verification Value), printed on the physical card.
Single-use disposable virtual debit cards – can be used when customer dont want to reveal their card details
A dynamic PIN for ATM/POS(Automated Teller Machines or Point-of-Sale) transactions – This feature can be used against static PIN.
Super OTP(one-time passwords) – ability to access OTP even in low network zones.
About IndusInd Bank Limited: Managing Director(MD) & Chief Executive Officer(CEO) – Sumant Kathpalia Headquarters – Mumbai, Maharashtra Established in – 1994 Tagline – We Make You Feel Richer
Fintech Startup slice Becomes SFB After Merger with NESFBLThe Reserve Bank of India (RBI) approved the merger of North East Small Finance Bank Limited (NESFBL) and Bengaluru(Karnataka) based fintech startup slice(previously known as Slicepay).
Following this merger, slice will become the 1st fintech firm to transform into a Small Finance Bank (SFB).
All slice entities, including its Non-Banking Financial Company (NBFC) licence, have been merged with the combined banking entity.
Approval from NCLT: i.The two entities are awaiting final approval from the National Company Law Tribunal(NCLT) for the merger to be effective. ii.Once the approval is in, Slice-owner Quadrillion Finance Private Limited and its parent company Garagepreneurs Internet Private will merge with North East SFB. About the merger: i.The merger is expected to create a new-age SFB that leverages Slice’s digital prowess and NESFB’s grassroots banking foundation to serve a wider audience, including those who lack access to basic banking services.
The merger will allow Slice to leverage NESFB’s reach in rural and underserved areas to provide banking services to more people.
ii.It is a sign of the growing convergence between the two sectors and the RBI’s willingness to support innovation in the financial sector. iii.The merged entity will be able to offer a more seamless and integrated customer experience by combining Slice’s digital capabilities with NESFB’s traditional banking services. iv.This merger is waiting for shareholders’ approval and other regulatory approvals. About Slice: Garagepreneurs Internet Private Limited (“GIPL”) is operating through its brand name ‘slice’ Founder and Chief Executive Officer (CEO) – Rajan Bajaj Headquarters – Bengaluru, Karnataka Established in – 2016 About North East Small Finance Bank (NESFB): North East Small Finance Bank Limited is the wholly owned subsidiary of RGVN (North East) Microfinance Limited. Managing Director(MD) & Chief Executive Officer(CEO) – Rupali Kalita Headquarters – Guwahati, Assam Established in – 2015
RBIH & BhashiniCollaborated for Linguistic Inclusion in Financial ServicesReserve Bank Innovation Hub (RBIH) and the Digital India Bhashini Division (DIBD/Bhashini) collaborated to explore and develop innovative solutions that foster linguistic inclusivity in the financial services sector.
This partnership aims to extend the reach of digital financial services to users in their native tongues, ultimately providing seamless banking experiences for everyone.
This collaboration is with respect to the memorandum of Understanding(MoU) which was signed during the Global Fintech Fest(GFF) held in Mumbai, Maharashtra in September 2023.
Bhashini: Bhashini is a Independent Business Division under Digital India Corporation(DIC) under the aegis of Ministry of Electronics and Information Technology (MeitY). Aim: To build a National Public Digital Platform for languages to develop services and products for citizens by leveraging the power of artificial intelligence and other emerging technologies. Public Tech Platform: i.As a first step of this initiative, Bhashini plans to launch RBI’s Public Tech Platform for Frictionless Credit in multiple languages.
This end-to-end digital credit delivery platform platform will streamline and enhance credit delivery by financial institutions, making it more accessible to borrowers across the country.
ii.This platform was developed by RBIH as per the announcement made by RBI in August 2023. Significance: i.The Voice has the potential to act as a medium for promoting financial inclusivity, economic empowerment, and enhancing financial literacy.
BHASHINI, with its language translation and voice processing capabilities, will play a crucial role in achieving these goals.
ii.Offering financial services in users’ mother tongue can help build confidence in digital financial solutions Additional Info: The fintech sector is driven by increased smartphone penetration and reduced data usage costs. About Digital India Bhashini Division (DIBD/Bhashini): Bhashini, the National Language Technology Mission (NLTM) was launched in July 2022. Chief Executive Officer (CEO) – Amitabh Nag Headquarters – New Delhi, Delhi Reserve Bank Innovation Hub (RBIH) The Reserve Bank Innovation Hub is a wholly owned subsidiary of the Reserve Bank of India (RBI) set-up to promote and facilitate innovation across the financial sector. Chief Executive Officer (CEO) – Rajesh Bansal Headquarters – Bengaluru, Karnataka Established in – 2022
Axis Bank Launches Its Digital Bank Proposition ‘Ppen by Axis Bank’ Axis Bank Limited which is headquartered in Mumbai ,Maharashtra has launched its digital banking proposition called ‘open by Axis Bank’ in its latest advertising campaign ‘Open 2023’
The Open 2023 campaign highlights the top 15 features of the bank’s digital offerings.
The launch of ‘open by Axis Bank’ is a fulfilment of Axis bank’s vision to build Axis 2.0 as a digital bank within the bank to offer a personalized, intuitive, and hassle-free digital banking experience.
About ‘open by Axis Bank’: i.‘open by Axis Bank’ is a future-ready mobile application that underscores the bank’s pivot towards enhanced digital offerings.
It aims to bring all the features in a user-friendly, modern interface for both existing and new customers.
ii.It is a one-stop solution for all digital banking needs with over 250 banking services at anytime. iii.It is also the highest rated mobile banking app on the play store amongst top 500 banks globally by market capitalisation. About Axis Bank Limited: It was established in 1993 and Amitabh Chaudhry is the current Managing Director(MD) & Chief Executive Officer(CEO) of the bank.
YES Bank Becomes the First Lender to Offer ‘ONDC Network Gift Card’ YES Bank Limited had become the first bank in India to issue an ‘Open Network for Digital Commerce (ONDC) Network Gift Card’. The card is powered by Rupay Network.
The card is issued in partnership with the ONDC, a government-backed initiative to democratize digital commerce in India.
This network-wide gift card will help companies with corporate gifting and employee engagement, and it will also allow consumers to shop at thousands of sellers on the network using any ONDC-compatible buyer app.
The card can be loaded with up to Rs 10,000.
OmniCard is the first company to issue ONDC Network Gift Cards(in September 2023); Yes Bank is second company and first banking institution to issue this card.
Note – YES Bank has issued its first electronic-Bank Guarantee (e-BG) in collaboration with National E-Governance Services Limited (NeSL).
About Yes Bank Limited: It was established in 2004 and headquarters in Mumbai, Maharashtra. ‘Experience Our Expertise’ is the tagline of the bank.
WB’s India Development Update Oct 2023 Retains India’s FY24 GDP growth at 6.3%According to India Development Update(IDU) October 2023released by World Bank(WB), India’s Gross Domestic Products (GDP) growth for the Financial Year 2023-24 (FY23/24) is retained at 6.3% and for FY24/25 the growth rate will be at 6.4%.
India was one of the fastest-growing major economies in FY22/23 at the rate of 7.2%. India’s growth rate was the 2nd highest among G20 countries.
The expected moderation is due to the challenging external conditions and reduced pent-up demand.
However, service sector activity is projected to remain strong with growth of 7.4%, and investment growth is expected to stay robust at 8.9%.
About World Bank (WB): President (WB Group)– Ajay Banga Establishment – 1944 Headquarters – Washington D.C, United States (US) Members – 189 member states
Alexey Ivanovich Ekimov, Louis Eugene Brus, and Moungi Gabriel Bawendi Wins Nobel Prize in Chemistry 2023Alexei I. Ekimovof Russia, Louis E. Brus of the United States of America (USA), and Moungi G. Bawendiof France were awarded the 2023 Nobel Prize in Chemistry “for the discovery and synthesis of quantum dots”.
The Nobel Prize in Chemistry was awarded by the Royal Swedish Academy of Sciences, Stockholm, Sweden.
Alexei Ekimov developed size-dependent quantum effects in coloured glass.
Louis Brus was the world’s first scientist to prove size-dependent quantum effects in particles floating freely in a fluid.
Moungi Bawendi found the production method for the synthesis of high-quality quantum dots which makes them to be utilised in practical applications.
Quantum dots are semiconducting crystals in nanometer size, their main property is that depending upon their size they change their colours.
Quantum dots are used in illuminating computer monitors and television screens based on Quantum-dot Light-Emitting Diodes(QLED) technology.
PayU India CEO Anirban Mukherjee promoted as Global CEO of PayU GPOAnirban Mukherjee has been promoted as the global Chief Executive Officer (CEO) of PayU Global Payment Organisation (GPO), a payments and fintech business of Prosu. Currently, he is a part of the PayU global leadership team and serves as the CEO of PayU India.
He replaces Laurent Le Moal, the incumbent global CEO of PayU GPO, who steps back from the operational management of the day-to-day business. Le Moal will remain with Prosus and PayU in an advisory capacity.
Roles & Responsibilities: In his new position, Anirban Mukherjee will be responsible for PayU’s business operations. He will join the Prosus leadership team and report directly to Ervin Tu, Prosus and Naspers Interim CEO.
The development comes 2 months after the Netherlands-based Prosus sold PayU’s GPO business to Israeli company Rapyd headquartered in London (United Kingdom-UK) for USD 610 million.
Note:
PayU is one of India’s leading Payment Gateways.
Prosus is a global consumer internet group and one of the largest technology investors in the world. Prosus is majority-owned by Johannesburg (South Africa) multi-national Naspers.
About Anirban Mukherjee: i.Anirban Mukherjee has been serving as the CEO of PayU India since 2019. ii.With over two decades of experience, Anirban Mukherjee has a deep understanding of global payments, credit, and digital banking. His expertise spans the United States of America (USA), India, and the broader Asia-Pacific region (APAC). iii.He was a part of Jio’s leadership team, where he played a pivotal role in driving payments, merchant services, and digital financial services.
At Jio, he served as the Co-CEO of Reliance Payments Solution Ltd.
iv.Prior to Jio, he worked with Standard Chartered Bank in India and APAC, as well as senior executive leadership with CapitalOne in the USA. About PayU India: CEO– Anirban Mukherjee Headquarters– Gurugram, Haryana Founded in– 2014
ACC Extends SBI Chairman Dinesh Khara’s Tenure till August 2024 & MD Ashwini Tewari’s Tenure by 2-yearThe Appointments Committee of the Cabinet(ACC) has extended the tenure of the Chairman of the State Bank of India (SBI) Dinesh Kumar Khara till 28th August 2024 or till he attains the age of 63 years, or until further orders, whichever is earlier.
He has been serving as the chairman of SBI since 7th October 2020. His 3 year tenure ended on 6th October 2023.
ACC has also extended the tenure of Ashwini Kumar Tewari as the Managing Director(MD) of SBI for 2 years beyond January 27, 2024. Note: Currently, the retirement age for the SBI chairman is capped at 63. Khara will turn 63 in August 2024. About Dinesh Kumar Khara: i.Dinesh Khara joined SBI as a Probationary Officer (PO) in 1984 and has over 36 years of experience in all facets of Banking. ii.He held several key positions in SBI such as; MD (Global Banking & Subsidiaries); MD (Associates & Subsidiaries); MD & Chief Executive Officer (CEO) (SBI Mutual Funds); and Chief General Manager – Bhopal (Madhya Pradesh) Circle. iii.Prior to being appointed as MD of SBI, he served as the MD&CEO of SBI Funds Management Pvt. Limited (SBIMF). Additionally, he supervises the businesses of Non-Banking subsidiaries of SBI. iv.He has worked in SBI’s Chicago (the United States of America – USA) office and was associated with the overseas acquisition of Indian Ocean International Bank Mauritius (now SBI Mauritius) during his stint in the Overseas Expansion wing of International Banking Group. About Ashwini Kumar Tewari: i.Ashwini Kumar Tewari started his career in SBI in 1991 as a Probationary Officer. ii.He serves as a Whole Time Director of SBI handling the portfolio of Risk, Compliance, and Stressed Assets since June 2022. iii.Earlier he was the MD, handling International Banking, Information Technology, and Non-Banking Subsidiaries of SBI. iv.Prior to becoming MD at SBI, he served as MD and CEO of SBI Cards and Payment Services Ltd. v.He was the Country Head of the US Operations of the SBI from April 2017 to July 2020. Prior to that, he was the Regional Head and General Manager, of East Asia, for SBI. About State Bank of India (SBI): Chairman– Dinesh Kumar Khara MDs– Challa Sreenivasulu Setty, Alok Kumar Choudhary, Ashwini Kumar Tewari Headquarters– Mumbai, Maharashtra Founded on 1 July, 1955
Ramaswamy N appointed as CMD of General Insurance Corporation of India Ministry of Finance has appointed Ramaswamy Narayanan as Chairman and Managing Director(MD) to General Insurance Corporation of India Limited (GIC Re) with effect from 1st October, 2023 and up to the date of of his superannuarion (i.e. 30th September 2025) or until further orders, whichever is earlier.
He succeeds Devesh Srivastava, who retired from the post on 30th September 2023. He has been serving as CMD since December 2019.
Prior to this appointment he was serving as the General Manager of GIC Re.
He was appointed based on the recommendation of Financial Services Institution Bureau (FSIB) to Ministry of Finance in June 2023.
About Ramaswamy Narayanan: i.Ramaswamy Narayanan joined GIC as a direct recruit officer in 1988. ii.He has also been as CEO of GIC Re in United Kingdom branch.
He played a key role in the establishment of the Lloyds syndicate of GIC (GIC 1947).
iii.He was involved in implementing the ambitious “Project Parivartan”. About GIC Re: It was incorporated in 1972 and its headquartered in Mumbai, Maharashtra.
World Cerebral Palsy Day 2023- October 6World Cerebral Palsy Day (WCPD) is annually observed across the globe on October 6 to raise awareness of Cerebral Palsy (CP) and honour the efforts and accomplishments of people with Cerebral Palsy. CP is a neurological disorder that affects motor abilities and muscle mobility The theme for World Cerebral Palsy Day in 2023 is “Together Stronger.” Background: i.In 2012, the Cerebral Palsy Alliance (CPA) declared World Cerebral Palsy Day to be observed on October 6 every year. ii.Cerebral Palsy Day began with a small campaign called “Change My World in One Minute”, started by the Cerebral Palsy Alliance in Australia. About Cerebral Palsy Alliance (CPA): Cerebral Palsy Alliance formerly known as The Spastic Centre, is the world’s largest private funder of CP research and also a global center of expertise for CP research, advocacy, intervention, and assistive technology innovation. Chair of the Board of Directors of CPA– Andrew Buchanan Headquarters– New South Wales, Australia Founded in– 1945
Highlights of PM Modi’s visit to MP & Rajasthan on 2nd Oct 2023On 2nd October 2023, Prime Minister (PM) of India Narendra Modi visited Madhya Pradesh(MP) and Rajasthan.
In Chittorgarh, Rajasthan, He laid the foundation stone and dedicated various development projects worth about Rs 7000 crore.
In Gwalior, MP, He laid the foundation stone and dedicated multiple development initiatives worth around Rs 19,260 crores.
Highlights: i.PM Modi inaugurated the India’s 1st state-of-the-art sports training facility for individuals with disabilities, known as the Atal Bihari Training Center for Divyang Sports, in Gwalior, MP. ii.PM Modi laid the foundation stone for the Jal Jeevan Mission projects worth over Rs 1530 crores in Gwalior and Sheopur districts of MP. About Madhya Pradesh (MP): Chief Minister– Shivraj Singh Chouhan Governor– Mangubhai C. Patel Wildlife Sanctuary– Ralamandal Wildlife Sanctuary; Ratapani Wildlife Sanctuary Tiger Reserve– Bandhavgarh Tiger Reserve; Kanha Tiger Reserve
CMIE’s Survey: India’s Unemployment Rate Declines to 7.1% in September 2023 According to Centre for Monitoring Indian Economy (CMIE)’s Consumer Pyramids Household Survey, India’s unemployment rate fell to a 12-month low of 7.1% in September 2023 from 8.1% in August 2023 despite the poor monsoon.
i.In rural areas, the overall unemployment rate dropped from 7.11% in August 2023 to 6.20% in September 2023.
Among rural females, unemployment decreased from 10.07% in August to 8.01% in September.
Among rural males, unemployment decreased from 6.68% in August to 5.94% in September.
ii.In urban areas, the overall unemployment rate decreased from 10.09% in August to 8.94% in September.
Among urban females, unemployment decreased from 22.17% in August to 18.57% in September.
Among urban males, unemployment decreased from 8.31% in August to 7.57% in September.
CMIE is a private think-tank which was established in 1976. It is headquartered in Mumbai, Maharashtra and Mahesh Vyas is currently serving as its Managing Director(MD).
78th Session of the United Nations General Assembly September 18-26, 2023
The 78th session of the United Nations General Assembly (UNGA) was held at the United Nations (UN) Headquarters in New York City, USA, from September 18 to September 26, 2023. The world leaders, Heads of State and Governments, foreign ministers, diplomats, and representatives from member states for the annual high-level week, often called as the ‘Oscars of Diplomacy.’
The theme for this event was “Rebuilding trust and reigniting global solidarity: Accelerating action on the 2030 Agenda and its Sustainable Development Goals towards peace, prosperity, progress and sustainability for all.”
India played a leading role at UNGA 78 and it focused on South-South cooperation, multilateralism, and sustainable development. EAM S. Jaishankar represented the Indian delegation at the high-level week of the session.
India, US, Israel & UAE launch new I2U2 website & private enterprise partnership on UNGA sidelines.
India, Japan agrees to strengthen economic cooperation including achieving progress on high-speed railway project during the UNGA Summit.
The 2023 Global Sustainable Development Report, “Times of Crisis, Times of Change: Science for Accelerating Transformations to Sustainable Development”, is the second edition.It will be published every four years.
WHO and WADA Signs MoU to Collaborate on Clean, Drug-free SportWorld Anti-Doping Agency (WADA) and World Health Organisation (WHO) have recently inked a four-year Memorandum of Understanding (MoU) that enables experts from both global organizations to work together and exchange information concerning areas where the realms of anti-doping and public health intersect.
The MoU was signed in Geneva, Switzerland, between WADA president Witold Banka and WHO Director-General Tedros Ghebreyesus.
Decoding the MoU: i.The agreement will run until 1 October 2027 and provides a framework of cooperation between WHO and WADA to further their goals. ii.The Goals of the MOU include:
Addressing and evaluating health risks associated with the usage of psychoactive substances and related disorders, with a particular emphasis on doping substances and their use within the athlete community.
Promoting awareness and advocating for the integrity of clean sports and the prevention of substance misuse on a global scale.
Enhancing awareness through educational initiatives, facilitated by goodwill ambassadors and influencers, to foster positive change.
Collaborating on issues related to substandard and counterfeit medical products, including the identification of emerging psychoactive substances by sharing information, offering mutual support, and engaging with sports federations.
Reporting instances of abuse and misuse of counterfeit and substandard medical products within the realm of sports.Top of Form
iii.The MOU also aligns with both organizations’ common objective of achieving the United Nations Sustainable Goal 3: Ensuring healthy lives and promoting well-being for all at all ages. The goal carries its roots from United Nations’ 2030 Agenda for Sustainable Development. Additional info: The National Anti-Doping Agency (NADA) was set up in India as a registered society under the Societies Registration Act of 1890 on November 24, 2005 with a mandate for dope-free sports in India. About WHO: It is the United Nations agency that connects nations, partners and people to promote health, keep the world safe and serve the vulnerable Director General – Dr Tedros Adhanom Ghebreyesus Established – 1948 Headquarters – Geneva, Switzerland Member states – 194 About WADA: It is an international independent agency to lead a collaborative worldwide movement for doping-free sport. President – Witold Bańka Established –1999 Headquarters – Montreal, Canada
WHO recommends R21/Matrix-M, Malaria vaccine by Oxford & Serum Institute World Health Organization(WHO) has recommended R21/Matrix-M, the new malaria vaccine developed by Jenner Institute at Oxford University(the United Kingdom -UK) and Serum Institute of India (SII) Private Limited leveraging Novavax’s adjuvant technology, for the prevention of malaria in children.
The vaccine was developed with the support of the European and Developing Countries Clinical Trials Partnership (EDCTP), the Wellcome Trust, and the European Investment Bank (EIB)
The recommendation follows advice from the WHO: Strategic Advisory Group of Experts on Immunization (SAGE) and the Malaria Policy Advisory Group (MPAG).
Note:
The R21 vaccine is the 2nd malaria vaccine recommended by WHO, after the RTS,S/AS01 vaccine(Mosquirix), which received a WHO recommendation in 2021. Mosquirix was manufactured by GlaxoSmithKline plc.
The vaccine was recommended after meeting required safety, quality and effectiveness standards.
R21/Matrix-M™ vaccine marks the culmination of 30 years of malaria vaccine research at the Jenner Institute.
To date the R21/Matrix-M malaria vaccine has been licensed for use in Ghana, Nigeria and Burkina Faso.
NIIF Collaborated with JBIC to Launch India-Japan Fund of Rs 49 BillionThe National Investment and Infrastructure Fund Limited (NIIFL) has entered into a collaboration with the Japan Bank for International Cooperation (JBIC) to launch its first bi-lateral fund called India-Japan Fund (IJF) of Rs 49 Billion (USD 600 million).
The Fund was established by NIIF Limited (NIIFL), a collaborative investment platform for international and Indian investors.
The fund is anchored by the Government of India and JBIC.
Contribution: Out of Rs 49 Billion, The Government of India (GoI) will contribute Rs 24 Billion (USD 294 million (49%)) and JBIC will fund the remaining Rs 25 Billion (USD 306 million (51%)) of the funding target.
JBIC’s equity participation in the Fund is based on the Memorandum of Understanding (MoU) which was signed between JBIC and NIIFL in November 2022.
This MoU aims to promote environmental preservation, low carbon emission strategies, and increase cooperative relationship between Indian and Japanese companies.
About IJF: i.The India-Japan Fund (IJF) will focus on investing in environmental sustainability and low-carbon emission strategies such as renewable energy, e-mobility, waste management and water management projects. ii.It aims to enhance Japanese investments into India and strengthen collaboration between the two countries in the area of climate and environment by being a ‘partner of choice’. Additional Support: JBIC IG, a joint venture between JBIC and Industrial Growth Platform, Inc., will support NIIFL in promoting Japanese investments in India.
It will also support Indian companies and projects that collaborate with Japanese companies to enhance the cooperation between Indian and Japanese companies across all sectors.
Additional Info: i.India reaffirmed its goal of carbon neutrality by 2070 at Conference of Parties (COP)26 in November 2021. The government has promoted sustainable practices such as renewable energy and electric vehicles. ii.On the other side, Japanese companies are facing supply chain disruptions and India is drawing attention as a destination for relocation and investment. About National Investment And Infrastructure Fund Limited(NIIFL): Managing Director(MD) & Chief Executive Officer(CEO) – Rajiv Dhar Headquarters – New Delhi, Delhi Established in – 2015 About Japan Bank for International Cooperation(JBIC): Managing Director(MD) & Chairman – Tadashi Maeda Headquarters – Tokyo, Japan Established in – 2012
Outlook Group & IDFC FIRST Bank Launched retirement Planning Event “Outlook Money 40After40” Outlook Group in collaboration with IDFC FIRST Bank launched a retirement planning event “Outlook Money40After40” to spread awareness and create conversations around retirement planning.
“40After40” is a two-day event and expo, which will be held at Jio World Convention Centre in Mumbai, Maharashtra on 23rd and 24th January, 2024.
IDFC FIRST Bank will spread the need & importance of retirement planning and addresses the financial needs of the elderly early.
The collaboration will also address other concerns of retired people such as health and wellness, living facilities & travel.
The collaboration aims to approach the key question of retirement through the various print and digital platforms. It aims to provide invaluable insights and expert guidance to individuals, helping them make informed decisions to secure a prosperous retirement.
Indranil Roy is the Chief Executive Officer(CEO) of Outlook Group which was established in 1995. Outlook Money is the only media house which has a dedicated website on retirement.
Anne L’Huillier, Pierre Agostini, and Ferenc Krausz Wins the Nobel Prize in Physics 2023Anne L’Huillier of France, Pierre Agostini of France, and Ferenc Krausz of Hungary were awarded the 2023 Nobel Prize in Physics “for experimental methods that generate attosecond pulses of light for the study of electron dynamics in matter.”
The Nobel Prize in Physics is awarded by the Royal Swedish Academy of Sciences, Stockholm, Sweden.
In 1987, Anne L’Huillier and her colleagues did an experiment of passing an infrared laser beam through a noble gas that produces overtones.
Pierre Agostini and his research group in France successfully created and investigated a pulse train of 250-attosecond light pulses in 2001.
Ferenc Krausz and his team in Austria developed a technique to separate an individual 650-attosecond pulse from a pulse train.
Anne L’Huillier is the fifth woman to receive the Nobel Prize in Physics.
Sachin Tendulkar Named as ‘Global Ambassador’ for ICC ODI World Cup 2023Former Indian cricket Player Sachin Tendulkar was named as the ‘Global Ambassador’ for the International Cricket Council (ICC) Men’s Cricket One Day International (ODI) World Cup 2023.
Sachin unveils the World Cup trophy before the inaugural match between England and New Zealand on 5th October 2023.
Sachin has played six ODI World Cups including 1989, 1992, 1996, 2003, 2007, and 2011.
Other ambassadors of ICC ODI World Cup 2023: It includes Suresh Raina(India), Mithali Raj (India), Vivian Richards(West Indies), AB de Villiers( South Africa), Eoin Morgan(England), Aaron Finch(Australia), Muttiah Muralitharan(Sri Lanka), Ross Taylor(New Zealand) and Mohammad Hafeez(Pakistan). About ICC Men’s World Cup 2023: i.The 13th edition of the Men’s ODI World Cup is set to be held from 5th October to 19th November 2023, comprised 48 matches across 10 venues in India.
Both the inagural and final matches set to be held in Narendra Modi Stadium in Ahmedabad, Gujarat.
ii.Mascot: ICC announces two mascots including ‘Blaze‘(female mascot- Bowler) and ‘Tonk’ (male mascot – Batsmen). iii. India won the men’s world cup twice, including in 1983 and 2011..
Sachin Tendulkar was also part of the 2011 ODI World Cup-winning team.
About Sachin Tendulkar: i.He represented India for 24 years, scoring 15,921 runs in Tests and 18,426 runs in one-day internationals (ODI). He holds the record for most runs in international cricket with 34357 runs. ii.He is the recipient of Bharat Ratna(2014), Padma Vibhushan(2008), Padma Shri(1999) for his achievement in sports. He has also received the Rajiv Gandhi Khel Ratna (1997) and Arjuna Award(1994) for cricket. iii.‘Playing it my Way’ co-authored by Boria Majumdar and Sachin is the official autobiography of Sachin. About International Cricket Council (ICC): Chairman – Greg Barclay Headquarters – Dubai, United Arab Emirates (UAE) Established – 1909
CCI Approvals on 3rd October 2023The Competition Commission of India (CCI) approved the following acquisitions on 3rd October 2023,
Acquisition of certain stake of Lenskart Solutions Private Limited by Kedaara Capital Fund III LLP
Acquisition of majority stake in Indira IVF by Zonnebaars and amalgamation of Spaceway Wellness into Indira IVF
Acquisition of 100% shareholding of Lanco Amarkantak Power Limited by PFC Projects Limited, REC Limited, SJVN Limited and Damodar Valley Corporation
Acquisition of LancoAmarkantak Power Limited by PPL, REC, SJVN and DVC CCI has approved the proposed acquisition of 100% shareholding of Lanco Amarkantak Power Limited by PFC Projects Limited, REC Limited, SJVN Limited and Damodar Valley Corporation. Acquires: i.PFC Projects Limited(PPL) is a wholly owned subsidiary of Power Finance Corporation Limited (PFC), a central public sector undertaking (CPSU) under the Ministry of Power. ii.REC Limited (formerly Rural Electrification Corporation Limited) ) is a Navratna company under the Ministry of Power. It is a subsidiary of PFC.
It is a non-banking financial company (NBFC) categorized as an infrastructure finance company by the Reserve Bank of India(RBI).
iii.SJVN Limited (formerly known as Satluj Jal Vidyut Nigam) is a miniratna Schedule A public sector undertaking(PSU). It is a joint venture of the government of India and the government of Himachal Pradesh. iv.DVC is a statutory corporation set up under the Damodar Valley Corporation Act, 1948. Target: LAPL is an unlisted public limited company engaged in power generation in India. Acquisition of a 1.74% stake in Lenskart Solutions Private Limited by Kedaara Capital Fund III LLP CCI has approved the acquisition of approximately 1.74% of the issued share capital on a fully diluted basis of Lenskart Solutions Private Limited (Target) by Kedaara Capital Fund III LLP(Acquirer). Key Notes: i.Acquirer is a private equity fund, registered with the Securities and Exchange Board of India as a Category II Alternative Investment Fund. ii.Target is a private limited company incorporated in India. Acquisition of majority stake in Indira IVF by Zonnebaars & amalgamation of Spaceway Wellness into Indira IVF CCI approved the acquisition of the majority shareholding of Indira IVF Hospital Private Limited (IndiraIVF) by Zonnebaars Netherlands B.V. (Zonnebaars) and the amalgamation of Spaceway Wellness Private Limited (Spaceway) with and into Indira IVF. Points to note: i.Indira IVF is India’s largest fertility chain expert with 115+ centres across India. it is engaged in the provision of fertility and in vitro fertilization (IVF) treatment.
Spaceway is one of the promoters of Indira IVF.
ii.Zonnebaars is a part of the EQT group of investment funds. EQT is a Swedish global investment organization.
PART – I of Hangzhou 2022 Asian Games – September 23 to September 30The 19th edition of Asian games, officially called as ‘Hangzhou 2022 Asian Games’ is being held from September 23 to October 8 2023 with China as the host nation. Hangzhou 2022 Asian Games Medal tally (As of 4 October 2023):
World Animal Day 2023 – October 4World Animal Day (WAD) is annually observed across the globe on October 4 which aims to brings together the animal welfare movement to work towards creating a better world for all animals.
The day celebrates the diversity of the animal kingdom and reflects on the importance of animal welfare around the world.
The theme of World Animal Day 2023 is ‘Great or Small, Love Them All’. Background: i.The idea of World Animal Day was initially proposed by Heinrich Zimmerman, a writer and publisher of the German magazine “Mensch und Hund” (Man and Dog). ii.The first World Animal Day celebrated on 24th March 1925.
World Space Week 2023 – 4th to 10th OctoberThe United Nations (UN) World Space Week (WSW) is annually observed across the globe from 4th to 10th October to celebrate the contributions of space science and technology to the betterment of the human condition. The theme for World Space Week 2023 is “Space and Entrepreneurship”.
The theme highlights the growing importance of the commercial space sector and its potential for entrepreneurs. As miniaturisation and cost-efficiency continue to advance, the future of space exploration belongs not only to governments but also to visionary entrepreneurs.
Every year, the theme of WSW is selected by the World Space Week Association (WSWA) Board of Directors in close coordination with the UN Office of Outer Space Affairs (UNOOSA) to provide a focus on the activities and events that take place in over 80 nations from 4-10 October.
Note: WSWA began in 1980 as the coordinator of “Spaceweek,” a celebration of the first Moon landing, each July 16-24. Background: i.The United Nations General Assembly (UNGA) by its resolution A/RES/54/68 of 6 December 1999, proclaimed the week of 4 to 10 October every year as the World Space Week. ii.The first-ever WSW was observed from 4th to 10th October 2000. iii.The celebration of WSW is under the guidance of the UN Committee on the Peaceful Uses of Outer Space (COPUOS) and the UNOOSA. About United Nations Office of Outer Space Affairs (UNOOSA): Director– Aarti Holla-Maini Headquarters– Vienna, Austria Established in– 1958
World Teachers’ Day 2023- October 5The United Nations Educational, Scientific and Cultural Organization (UNESCO)’s World Teachers’ Day (WTD) is annually observed across the globe on 5 October to recognise the important role that teachers play in education around the world.
WTD also aims to reflect on the support teachers require to maximize their impact on students and society and to rethink the future of the teaching profession globally.
The 2023 theme of WTD is, “The teachers we need for the education we want: The global imperative to reverse the teacher shortage“.
The theme underscores the need to support, respect, and celebrate educators to address teacher shortages and make the teaching profession more appealing.
WTD is co-convened in partnership with the International Labour Organization (ILO), United Nations Children’s Fund (UNICEF), and Education International (EI). Background: i.On 5 October 1966, the ILO and UNESCO signed and adopted the Recommendation concerning the Status of Teachers at a special intergovernmental conference convened by UNESCO in Paris (France). ii.UNESCO declared 5 October of every year as World Teachers’ Day in 1994, celebrating the great step made for teachers on 5 October 1966.
World Teachers’ Day has been celebrated since 1994.
About United Nations Educational, Scientific and Cultural Organization (UNESCO): Director-General– Audrey Azoulay Headquarters– Paris, France UNESCO’s Constitution was adopted in London (United Kingdom) in 1945, it entered into force in 1946.
Assam CM launched Mukhya Mantri Lok Sevak Arogya Yojana for Medical Bill ReimbursementOn 2 October 2023, on the occasion of Gandhi Jayanti, Assam Chief Minister (CM) HimantaBiswaSarma launched the Ayushman Asom: Mukhya MantriLokSevakArogyaYojana, an online medical bill reimbursement scheme for the Government of Assam’s employees, pensioners and their dependents, at the event held in Sankardev Kalakshetra International Auditorium in Guwahati, Assam.
As part of the event, the CM transferred the first installment of Rs. 9,000 each to the bank accounts of 1 lakh beneficiaries under the Individual Household Latrine (IHHL) scheme.
Objective: The primary goal of this scheme is to provide financial health coverage of Rs. 5 Lakhs (per family, per year) to all the Assam Government employees, pensioners, and their dependents. About Mukhya Mantri Lok Sevak Arogya Yojana: i.The scheme promises to reimburse medical bills at rates equivalent to the Central Government Health Schemes (CGHS) through the online IT portal.
Payments will be directly credited to the accounts of the claimant employees, eliminating delays and troubles.
ii.The scheme will progressively introduce a cashless payment option, further simplifying the healthcare reimbursement process. iii.Eligible individuals can now have their medical bills reimbursed for treatment at any hospital, a departure from the earlier requirement to seek treatment exclusively at government-impaneled hospitals for successful bill processing.
Paperwork is currently in progress to expand cashless medical treatment benefits.
Some Features and Benefits:
Mukhya Mantri Lok Sevak Arogya Yojana will take the place of the Assam government’s current reimbursement methodology.
Beneficiaries, along with their dependents, may register on their own or at district kiosks.
There will be kiosks at the Medical College or the Joint Director of Health Services Office.
Online requests for advance payments are accepted from recipients.
Hospitals will receive direct advance payments.
Payments will be made within a predetermined time limit of 90 days.
Eligibility Criteria:
The scheme is applicable only to the citizens of Assam.
The applicant must be an Assam State Government employee and also applicable to the pensioners.
All the family members of the employee are also considered eligible for this scheme.
Applicants should not be registered in any other government scheme to get this opportunity.
Commencement of the Scheme: i.Starting from April 1, 2024, government employees can access cashless treatment at medical colleges across Assam and All India Institute of Medical Sciences (AIMS) in Changsari in Assam. ii.As part of the scheme’s expansion, from October 2, 2024, cashless treatments will be available at leading hospitals across India.
The old system of medical reimbursement shall continue to be operational for those employees unwilling to shift to Mukya Mantri Lok Sewak Arogya Yojana.
About Assam: Chief Minister– Himanta Biswa Sarma Governor– Gulab Chand Kataria Stadiums– Dr. Bhupen Hazarika Cricket Stadium (Outdoor) and Nehru Stadium (Outdoor)
HP CM Launched SukhAshrayaYojana for Orphans and Other Vulnerable Sections of SocietyHimachal Pradesh Chief Minister (CM) Sukhvinder Singh Sukhu launched the ‘MukhyamantriSukhAshrayaYojana’ at the Ridge in Shimla (Himachal Pradesh) to provide comprehensive support to orphans, specially-abled children, destitute women, and elderly individuals in Himachal Pradesh.
With this scheme, Himachal Pradesh became the first state in India to enact a law aimed at supporting orphan children and other vulnerable sections of society.
The Himachal government decided to adopt the orphans, the specially-abled children as the ‘Children of the State’ and work for their upliftment and well-being, including parental care.
Financial Assistance of the scheme: i.Financial benefits worth Rs 4.68 crore were distributed to eligible children which includes Rs. 15.52 lakh for fees and other hostel expenses, along with Rs. 11.52 lakh as monthly expenses benefiting 48 orphaned children for pursuing higher education.
Apart from this, Rs. 7.02 lakh for fees and Rs. 4.08 lakh for monthly expenses were also distributed to 17 orphaned children enrolled in a few professional courses.
Rs 6 lakh was allocated to 3 beneficiaries for the establishment of small and micro-industries.
National Health Authority Organizes ‘Arogya Manthan 2023’ to Celebrate Anniversaries of AB PM-JAY and ABDMThe National Health Authority (NHA) hosted the two-day Arogya Manthan 2023’ event on September 25th and 26th, 2023, at Vigyan Bhawan, New Delhi, Delhi. The event saw the anniversary celebrations of 5 Years of Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) and 2 Years of Ayushman Bharat Digital Mission (ABDM). i.5 years of Ayushman Bharat Pradhan Mantri Jan ArogyaYojana (AB PM-JAY)
AB PM-JAY has achieved remarkable success, with over 5 crore hospital admissions, covering more than 24 crore beneficiaries. It boasts a robust IT infrastructure, seamless processes, monitoring mechanisms, outreach efforts, and fraud control systems.
ii.2 years of Ayushman Bharat Digital Mission (ABDM)
ABDM, launched by Prime Minister Narendra Modi, aims to create an efficient digital health ecosystem with active participation from both public and private sectors. It has generated over 45 crore Ayushman Bharat Health Account (ABHA) and linked over 30 crore health records.
iii.Awards were presented to Top-Performing States/UT for AB PM-JAY and ABDM at Arogya Manthan 2023. About NHA:
National Health Authority is the successor of National Health Agency, which was functioning as a registered society since 23rd May, 2018.
National Health Agency was reconstituted as the National Health Authority on 2nd January 2019
Chief Executive Officer (CEO) – Sudhansh Pant
Headquarters – New Delhi, Delhi
276th Annual Day Celebrations of DAD: Defence Minister Launched DAD Digital Initiatives SARANSH, BISWAS and e-RakshaAwaasUnion Defence Minister Rajnath Singh launched several digital initiatives of the Defence Accounts Department (DAD) during its 276th annual day celebrations at Delhi Cantonment(Cantt), Delhi. i.The newly launched digital initiatives include,
An integrated defence finance dashboard for the Ministry of Defence (MoD) ‘SARANSH’ (Summary of Accounts, Budget and Expenditure for Raksha Mantralaya)
BISWAS (Bill Information and Work Analysis System),
e-RakshaAwaas.
ii.The Defence Minister also distributed the RakshaMantri Awards for Excellence for the year 2023 during the event. Note: DAD, the guardian of defence finance, recognises its efforts in enhancing India’s defence capabilities through transparency and efficiency. About Ministry of Defence (MoD): Union Minister– Raj Nath Singh (Constituency- Lucknow, Uttar Pradesh) Minister of State– Ajay Bhatt (Constituency- Nainital-Udhamsingh Nagar, Uttarakhand)
PM Launched SankalpSaptaah to Improve Governance at Block LevelPrime Minister(PM) Narendra Modi launched ‘Sankalp Saptaah’, a unique week-long programme for Aspirational Blocks of India, at Bharat Mandapam, New Delhi, Delhi. He also launched the Aspirational Blocks Programme (ABP) Portal and inaugurated the exhibition showcased on the occasion.
‘Sankalp Saptaah’ is linked to the effective implementation of the ABP.
The programme is observed from 3rd October to 9th October, 2023.
About ABP: i.The nationwide Aspirational Blocks Programme (ABP) was launched by the PM in January, 2023. ii.ABP is an initiative to improve governance at the block level to increase the quality of life of citizens. iii. ABP is based on the Aspirational District Programme(ADP) which has transformed the lives of about 25 crore people in 112 districts.
ADP was launched in 2018.
Implementation: i.500 aspirational blocks from 329 districts is chosen for the implementation of the programme. ii.To implement ABP and develop effective block development strategies, brainstorming workshops (chintan shivirs) were held in villages and blocks across the country. Theme: Each day of the programme is aligned with specific theme on which all aspirational blocks will work. i.The theme for the first six days is ‘Sampoorna Swasthya’, ‘Suposhit Pariwaar’, ‘Swachhta’, ‘Krishi’, ‘Shiksha’, and ‘Samridhi Diwas’ respectively. ii.The seventh day will be a celebration of the work conducted during the entire week, as ‘Sankalp Saptaah – Samavesh Samaroh’.
India’s first Solar Roof Cycling Track Inaugurated in Hyderabad The 23-kilometer cycle track fitted with solar panels, known as the Healthway Cycling Track, was inaugurated in Hyderabad, Telangana, by the state municipal administration and Urban Development Minister K. T. Rama Rao.
The cycling track along the Outer Ring Road is divided into two unique stretches: an 8.5-kilometer pink line from Nanakramguda to the Telangana State Police Academy and a 14.5-kilometer blue line from Kollur to Narsingi, which includes five different entry points.
Around 16,000 solar panels have been installed to generate 16 megawatts (MW) of power, which can power 32,000 streetlights or illuminate 800 kilometers of city streets.
The installed solar panels will be used to illuminate the track at night and protect cyclists from the sun, rain, and other weather conditions.
This was also the world’s second solar roof-covered cycle track due to its exceptional design.
Ookla’sSpeedtest Global Index: India Jumped 47 Places and Ranked 47th in Mobile Broadband SpeedsAccording to Ookla’s Speedtest Global Index (August 2023 edition) India has jumped 72 places and attained 47th rank (among 145 countries)with median download speed of50.21 Mbpsin ‘median mobile network speeds’ in the index.
The list is topped by United Arab Emirates (UAE) with the median download speeds of 210.89 Mbps. Qatar and Kuwait stands at second and third rank with the download speed of 192.71Mbps and 153.86Mbps respectively.
India was ranked 119 in Speedtest Global Index 2022.
About Ookla: Ookla is a global leader in connectivity intelligence owned by Ziff Davis Inc. Co-Founder – Doug Suttles Headquarters – Seattle, Washington, United States of America(USA)
NABARD Raises Rs 1,040.50 Crore in India’s First social Impact Bond National Bank for Agriculture and Rural Development (NABARD) raised Rs 1,040.50 crore by issuing India’s first ‘AAA’ rated Indian Rupee-denominated Social Bonds at a coupon rate of 7.63%.
NABARD issued bonds privately to eligible institutional investors, which were listed on the Bombay Stock Exchange (BSE) on September 29, 2023. The redemption date for the bonds is September 27, 2028 with coupon payments taking place yearly.
A social bond is a type of financial instrument issued by governments, international organisations, or corporations to raise funds for projects and initiatives that have a positive social impact on society.
Nabard-issued bonds have been rated AAA rating by Credit Rating Information Services of India Limited(CRISIL) and Investment Information and Credit Rating Agency(ICRA).
AAA-rated bonds mean the issuers of these bonds have the highest creditworthiness & lowest risk of default, and are expected to easily meet financial obligations.
Note: The annual interest paid on a bond is referred to as a coupon payment.
IOCL Approves Two Joint Ventures to Set up Compressed Biogas Plants The board of Indian Oil Corporation Limited (IOCL), a public sector Enterprise under the Maharatna category approved joint ventures with EverEnviro Resource Management Pvt Ltd and GPS Renewables Pvt Ltd for setting up compressed biogas (CBG) plants.
The two joint ventures will be formed with IOCL or one of its subsidiaries and the two partner companies will have an equal stake of 50 % each in the newly formed joint ventures.
This aligns with the government’s plans to establish 5,000 commercial CBG plants by 2024-25 under the Sustainable Alternative Towards Affordable Transport (SATAT) scheme which was launched in 2018.
The IOCL board’s decision is subject to approvals from the NITI Aayog, and the Department of Investment and Public Asset Management (DIPAM)
Katalin Karikó and Drew Weissman Wins Nobel Prize in Physiology or Medicine 2023Katalin Karikó of Hungary and Drew Weissman of the United States of America(USA) were jointly awarded the Nobel Prize in Physiology or Medicine in 2023 by the Royal Swedish Academy of Science.
The Nobel Prize is awarded for their discovery concerning nucleoside base modifications that enabled the development of effective mRNA vaccines against COVID-19.
The mRNA vaccines deliver genetic instructions to cells to recreate the spike protein of the coronavirus, in order to trigger effective antibodies when they encounter the virus.
The Nobel Prize is an international award given by the Nobel Foundation in Stockholm, Sweden, and based on the will of Alfred Nobel, Swedish inventor and entrepreneur.
Recipients of the Nobel Prize are presented with a Nobel Prize diploma(certificate), a gold medal, and a cash award of 10 million Swedish kronor (nearly USD 900,000).
SudhaMurty Becomes 1st Woman to Get Global Indian Award The renowned author and philanthropist SudhaMurty, chairperson of the Infosys Foundation, became the first woman to be honoured the Global Indian Award by the Canada India Foundation(CIF) at Indo-Canadian gala event held in Toronto, Canada.
The award is presented to her by Indian High Commissioner to Canada Sanjay Kumar Verma.
About CIF Global Indian Award: i.The CIF Global Indian Award is the most prestigious Indo-Canadian event given to an outstanding individual who has helped India become a global economic and political power. ii.The award winner receives USD 50,000 to donate to a charity of their choice. iii.The award is the first of its kind to be given outside of India. About SudhaMurty: i.Sudha Murty was born on 19th August 1951 in Shiggaon, Haveri in Karnataka. ii.She is married to N. R.Narayana Murthy who is the co-founder of Infosys. iii.Murty is best known for her philanthropy activity; She is an active member of public health care initiatives of the Gates Foundation. iv.She has made great contributions to the fields of education, corporate business, arts and culture. v.Her strong voice on behalf of social justice and equity Honours and Achievements: i.The government of India honoured her with Padma Shri (the 4th highest civilian award) in 2006 and Padma Bhushan (the third highest civilian award) in 2023 for Social Work. ii.She was the first female engineer to be hired by TATA Engineering and Locomotive Company (TELCO). iii.She also received the R.K. Narayana’s Award for Literature in 2006. Books Authored: i.She had authored many books such as: ‘Mother I Never Knew: Two Novellas’, ‘Magic of the Lost Temple’, ‘How I Taught My Grandmother to Read: And Other Stories’ etc,. ii.Her kannada novel ‘Dollar Bahu’ was adapted as a televised dramatic series and her story ‘Runa’ was adapted as a Marathi film ‘Pitruroon’. Previous Recepients: i.Anil Agarwal who is the Chairman of Vedanta Group was the recipient of this award in 2022. ii.N.R.Narayana Murthy also received the award in 2014. iii.Sam Pitroda who was the Chairman of National Knowledge Commission was the first recipient of this award(in 2008). Additional Info: Established in 2007, Canada India Foundation (CIF) is a Canadian, not-for-profit, nonpartisan, non-governmental organization.
It strengthens bilateral relations between Canada and India.
ACC Extends Amit Agrawal’s Tenure as UIDAI CEO for 1 YearThe Appointments Committee of the Cabinet (ACC) has approved the extension of Amit Agrawal‘s tenure as the Chief Executive Officer (CEO) of the Unique Identification Authority of India (UIDAI) for a period of one year starting from November 2, 2023 up to November 2, 2024, or until further orders, whichever is earlier.
Amit Agrawal assumed charge as the CEO of UIDAI in June 2023 following the retirement of Saurabh Garg.
At present, Amit Agrawal also serves as the Chairman of the National Digital Communications Policy Committee.
About Amit Agarwal: i.Prior to joining UIDAI as CEO, he served as an Additional Secretary in the Ministry of Electronics and Information Technology (MeitY). ii.He has also served as an Additional Secretary and Joint Secretary in the Department of Financial Services, Ministry of Finance. iii.He served as the Finance Secretary and the Secretary in charge of the Departments of Commercial Tax and Technical Education in the Chhattisgarh Government among other roles. iv.He also served as a Director on the Board of the Bank of Baroda(BoB) and United India Insurance Company Ltd(UIIC). v.Previously he has also served as,
Director in the Prime Minister’s Office;
Adviser and Director in the Office of Prime Minister’s Economic Advisory Council (EAC);
Officer on Special Duty with the Chairman of the National Innovation Council;
Head of various State Government departments and agencies; and
Head of District-level Local Governments.
He has earlier served on the Boards of various companies, including Indian Bank, and ICICI Bank.
He is an officer of the 1993 batch Indian Administrative Service (IAS) from the Chhattisgarh cadre.
About Unique Identification Authority of India (UIDAI): It is a statutory authority, to create Unique Identification (UID) Numbers named Aadhaar to all citizens of India. It was established under the provisions of the Aadhaar Act, 2016 (“Aadhaar Act 2016”) on 12 July 2016 by the Government of India, under the MeitY. Chairperson (Part-time)– Neelkanth Mishra CEO– Amit Agrawal Headquarters– New Delhi, Delhi Founded on– 28 January 2009
ACC Reappoints Nitin Gupta as Chairman of CBDTThe Appointments Committee of the Cabinet (ACC) has approved the re-appointment of Nitin Gupta as the chairman of the Central Board of Direct Taxes (CBDT) for a tenure of 9-month with effect from 1st October 2023.
He was re-appointment on a contract basis till 30th June 2024, or until further orders, whichever is earlier, in relaxation of the recruitment rules, on usual terms and conditions applicable to re-employed central government officers.
About Nitin Gupta: i.Nitin Gupta is a 1986-batch Indian Revenue Service (IRS) officer of the Income-Tax department. ii.In June 2022, he was appointed as the Chairperson of CBDT following the superannuation of Sangeeta Singh, a 1986-batch IRS officer.
His 1st tenure as Chairperson of CBDT was from 27th June 2022 to 30th September 2023.
iii.Earlier to that, he was a Member of CBDT handling the charge of Investigation. iv.He also served as a Director General of Competition Commission Of India(CCI) from 2015-18. About Central Board of Direct Taxes (CBDT): The Central Board of Direct Taxes is a statutory authority functioning under the Central Board of Revenue Act, 1963. Chairperson – Nitin Gupta Headquarters – New Delhi, Delhi Established in – 1964
MyGov chief Akash Tripathi to take additional charge as CEO of India Semiconductor Mission Akash Tripathi, chief executive officer (CEO) of India’s citizen engagement platform MyGov, is set to become the CEO of India Semiconductor Mission(ISM) as additional charge from 9th October 2023.
Akash Tripathi will succeed Amitesh Kumar Sinha whose tenure ends on 4th October 2023.
Akash Tripathi, a 1998 batch IAS officer from Madhya Pradesh cadre has been CEO of MyGov since October 2022.
Akash Tripathi was also MeitY’s nodal officer for social media content takedowns under Section 69 of the IT Act.
ISM was established in 2021 with a financial commitment of USD 10 billion (Rs. 76,000 crores) under the Digital India Corporation of the Ministry of Electronics and Information Technology(MeitY)
ISM acts as the nodal agency for the Semiconductor Fab Scheme and Display Fab Scheme.
The ISM evaluates proposals for manufacturing semiconductors in India and chooses candidates who are eligible for subsidies.
World Habitat Day 2023- October 2The United Nations (UN) World Habitat Day (WHD) is annually observed across the globe on the first Monday of October to reflect on the state of cities and human settlements and promote the right to adequate shelter and the need for sustainable urbanization. WHD also launches Urban October.
WHD also reminds people that they are also responsible for the habitat of future generations.
The WHD 2023 was observed on 2 October 2023
The WHD 2022 was observed on 3 October 2022 and the WHD 2024 will be observed on 7 October 2024.
The 2023 theme of WHD is, “Resilient urban economies. Cities as drivers of growth and recovery“.
The theme aims to call various city stakeholders to analyse the various aspects of economic slowdown experienced by cities worldwide due to COVID-19 and conflicts.
Background: i.On 17 December 1985, the United Nations General Assembly (UNGA) adopted a resolution (A/RES/40/202) and decided to observe the first Monday of October every year as World Habitat Day. ii.WHD was first celebrated in 1986 with the theme “Shelter is My Right“. It was hosted by the city of Nairobi in Kenya.
International Day of Non-Violence 2023 – October 2The United Nations (UN)’s International Day of Non-Violence is annually observed across the globe on 2nd October to celebrate the birthday of Mahatma Gandhi, leader of the Indian Independence movement and pioneer of the philosophy and strategy of non-violence.
In India, the day is observed as Gandhi Jayanthi.
2nd October 2023 is the 154th Birth Anniversary of Mahatma Gandhi and the 17th International Day of Non-Violence.
Background: In June 2007, the United Nations General Assembly(UNGA) adopted the resolution A/RES/61/271 and declared October 2 as the International Day of Non-Violence.
The day aims to spread the message of ‘Say No to Violence’ through education and public awareness.
About the United Nations (UN): Secretary-General- António Guterres Headquarters- New York, United States of America(USA). Establishment- 1945
69th Wildlife Week – 2 to 8 October 2023Wildlife Week is annually observed across India in the month of October from 2 to 8 October to spread awareness of the importance of wildlife and its conservation in India.
The annual observanance coincides with the birth anniversary (2 October) of Mahatma Gandhi, who championed the principles of Ahinsa (non-violence) and compassion toward all living beings.
The 2023 marks the observance of the 69th Wildlife Week.
The theme of Wildlife Week 2023 is “Partnerships for wildlife conservation“.
The theme is inspired by the theme of the United Nations (UN) World Wildlife Day 2023, which honours the individuals and organisations making a positive impact on wildlife conservation.
Note: The UN World Wildlife Day (WWD) is annually observed across the globe on 3 March. Background: i.Wildlife Week was conceptualised in 1952 when the Government of India constituted an advisory body designated as the Indian Board for Wildlife (IBWL).
It was conceptualised with the goal of raising awareness to serve the long-term goal of safeguarding the lives of wildlife through critical action.
President Droupadi Murmu Gives Assent to Women’s Reservation Bill 2023
On September 29, 2023, as per the notification issued by the Union Law Minister Arjun Ram Meghwal ,President Droupadi Murmu has granted assent to the Women’s Reservation Bill 2023, which mandates a 33% reservation (one-third of total seats) for women in the Lok Sabha, State Legislative assemblies, and National Capital Territory (NCT) of Delhi. This historic decision was officially approved by the President on September 28, 2023.
Vice President and Rajya Sabha Chairperson, Jagdeep Dhankhar on September 28 signed the women’s reservation Bill as passed by Parliament before it was presented to President Droupadi Murmu for her assent.
Following the President’s assent, this Bill will be recognized as theConstitution (106th Amendment) Act.
The Women’s Reservation Bill 2023, officially titled as The Constitution (128th Amendment) Bill, 2023 and commonly referred to as Nari Shakti Vandan Adhiniyam, has been introduced in the Indian Parliament.
This bill, which aims to enhance gender representation, was introduced in the Lok Sabha on 19th September 2023 during a special parliamentary session.
The Women’s Reservation Bill cannot be enacted into law until the year 2026.The bill can only become effective after a process known as “delimitation” is carried out in the country.Delimitation is necessary to allocate seats in the Lok Sabha and state legislative assemblies in a manner that reserves a specific percentage (in this case, 33 percent) for women.
Union Minister Dharmendra Pradhan Launched Bharatiya Bhasha Utsav and Technology & Bharatiya Bhasha SummitOn 30th September 2023, Union Minister Dharmendra Pradhan, the Ministry of Education(MoE) and the Ministry of Skill Development & Entrepreneurship (MSDE), launched the Bharatiya Bhasha Utsav and inaugurated the two-day Technology & Bharatiya Bhasha summit in New Delhi, Delhi.
The 2-day summit, held from 30th September to 1st October 2023, was organised as a part of the 75-day Bharatiya Bhasha Utsav that commenced on 28 September 2023 and will conclude on 11 December 2023.
An exhibition was also set up to showcase Bharatiya Bhasha technology products, and their applications by the industries, government organizations, and start-ups.
About Ministry of Education (MoE): Union Minister– Dharmendra Pradhan (Rajya Sabha Madhya Pradesh) Ministers of State– Annpurna Devi (Constituency- Kodarma,Jharkhand); Dr. Subhas Sarkar (Constituency- Bankura, West Bengal); Dr. Rajkumar Ranjan Singh (Constituency- Inner Manipur, Manipur)
HDFC Pension Launches a First-of-its-kind NPS Preference Index on the Occasion of NPS DiwasHDFC Pension Management Company Limited has launched a first-of-its-kind ‘National Pension System (NPS) Preference Index’ on the occasion of 2nd edition of NPS Diwas which was observed on 1st October 2023.
HDFC Pension also released NPS Preference Index Study which is the industry first spotlight on NPS.
What is NPS? i.National Pension System (NPS) is a voluntary, defined-contribution pension scheme.
It is a government-backed retirement savings program designed to provide financial security after retirement.
ii.It was launched in India in 2004. iii.It is open to all Indian citizens between the ages of 18 and 70. iv.It is regulated by the Pension Fund Regulatory and Development Authority (PFRDA). NPS Preference Index Study 2023: i.The aim of the survey is to assess consumers’ views on retirement and their awareness, interest, and contemplation of the NPS.
This resulting in the framing NPS Preference Index, which can be tracked over time.
ii.This research has been conducted in association with an independent market researcherIpsos Research Private Limited. iii.The Index is a powerful metric derived from three broad aspects such as
Familiarity with NPS
Appeal of NPS
Consideration for NPS
Findings: i.The survey results show that the NPS Preference Index is currently 54 out of 100.
This means that the NPS is at moderate level and is equally influenced by the three pillars.
ii.The study indicates that 32years is the ideal age to start retirement planning as per consumers. iii.Despite being relatively new, the NPS is a popular financial investment option for retirement planning, with 24% of people owning it. iv.Tax benefits, peers, and financial advisors encourage people to buy NPS, but educating people about NPS and its features is essential to increase adoption. About NPS Diwas: i.The Pension Fund Regulatory and Development Authority (PFRDA) observes National Pension System Diwas (NPS Diwas) every year on 1st October.
The day aims to promote pension and retirement planning among the people of India, and make them financial independence post retirement.
ii.It isa campaign under ‘AzadiKaAmritMahotsav’. iii.The day was first observed on 1st October 2022. Additional Info: This research study was based on the responses od the people in NCCS (New Consumer Classification System) A households with annual incomes above Rs10 lakhs (or Rs 7 lakhs in Tier III cities) in 12 Indian cities between August and September 2023. About HDFC Pension Management Company Limited: HDFC Pension Management Company Limited is a wholly owned subsidiary of HDFC Life Insurance Company Limited. Chief Executive Officer(CEO) – Sriram Iyer Headquarters –Mumbai, Maharashtra Established in – 2011
WDRA Signs MoU with Bank of India to Fund against e-NWRs Warehousing Development Regulatory Authority (WDRA) signed Memorandum of Understanding (MoU) with the Bank of India (BoI) to fund against e-NWRs (electronic Negotiable Warehouse Receipt).
The MoU was signed in the presence of T.K Manoj Kumar, Chairperson, WDRA, Rajneesh Karnatak, Managing director (MD) cum Chief Executive Officer (CEO), BoI.
The MoU also aims to provide information to depositors about the benefits, besides doing further outreach activities to improve agricultural pledge finance in India.
The MoU aims to facilitate farmers and traders by offering low-interest rate loans, no Additional collateral, and attractive interest rates.
Electronic Negotiable Warehouse Receipt (eNWR) is a digital warehousing receipt issued by registered warehouses regulated and governed by WDRA.
The farmers were given e-NWRs once they stored their produce in scientific storage godowns authorised by WDRA and seek loan from e-NWRsbanks against their e-NWR.
Note: The WDRA is a Statutory Authority under the Department of Food and Public Distribution(DFPD) of the Ministry of Consumer Affairs Food and Public Distribution.
SBI Life Insurance & State Bank of Sikkim Sign a Bancassurance Pact to Offer Insurance Products Sate Bank of India (SBI) Life Insurance Company Limited signed a bancassurance pact with the State Bank of Sikkim (SBS) to make insurance solutions accessible to the residents of Sikkim.
The agreement was signed by P. Wangdi Bhutia, Managing Director, State Bank of Sikkim, and Jayant Pandey, Regional Director- Bengal region, SBI Life Insurance at the SBS’s headquarters in Gangtok, Sikkim.
Bancassurance is an agreement between a bank and an insurance company, through which the insurer can sell its products to the bank’s customers.
Through this partnership, the State Bank of Sikkim offers SBI Life’s diverse range of protection, wealth creation, and savings insurance products to its customers.
Note: SBI Life Insurance is a joint venture between State Bank of India (SBI) (55.50%) and French financial institution BNP Paribas Cardif.
Captain Bana Singh PVC Nominated as Ambassador for ‘War Against Waste’ in J&KThe Directorate of Rural Sanitation, Union Territory of Jammu and Kashmir(J&K) has nominated Param Vir Chakra(PVC) Awardee Captain Bana Singh as the ambassador for the “War Against Waste”, initiative to takle sanitation challenges in rural areas of J&K.
The “War Against Waste” campaign attempts to resolve waste management and environmental conservation challenges in rural J&K.
Captain Bana Singh’s participation in the cause will create awareness, encourage sustainable practices, and inspire local populations to actively participate in waste reduction and the preservation of J&K’s scenery.
Charandeep Singh, Director of Rural Sanitation of J&K announced the nomination of ambassador at Captain Bana Singh Stadium, R. S. Pura, Jammu during the Swachhata Hi Seva (SHS 2023) campaign.
About Captain Bana Singh: i.Captain Bana Singh served in the 8th Jammu & Kashmir Light Infantry (JAK LI).
He played a key role in ‘Operation Rajiv’ in which Indian armed forces’ recaptured ‘Quaid Post’ in Siachen Glacier at an altitude of 21,000 feet, from Pakistani soldiers in June 1987.
The recaptured post was renamed as the ‘Bana Top’ in his honour.
ii.He was awarded India’s highest wartime gallantry medal “Param Vir Chakra” in 1988. About Swachhata Hi Seva (SHS 2023): i.The Swachhata Hi Seva (SHS 2023) campaign was celebrated from 15th September to 2nd October 2023 under the joint aegis of the Department of Drinking Water and Sanitation (DDWS) and the Ministry of Housing and Urban Affairs (MoHUA).
The theme of SHS-2023 is ‘Garbage Free India’ with a focus on visual cleanliness and the welfare of SafaiMitras(sanitation Workers).
ii.The campaign aims to mass movement through community participation to reinforce the concept of Sanitation as everyone’s business. iii.It also was part of Swachh Bharat Diwas (2nd October) with nationwide participation. About Jammu and Kashmir(J&K): Lieutenant Governor – Manoj Sinha Dance Forms – Wuegi-Nachun, Bacha Nagma, Bhand Jashan Festivals – Hemis Festival, Sindhu Darshan Festival, Amarnath Yatra
Mohamed Muizzu Elected as the President of MaldivesMohamed Muizzu of the Progressive Party of Maldives (PPM) was elected as the New President of Maldives. He is set to be sworn in on 17th November 2023.
He defeated the incumbent President Ibrahim Mohamed Solih (2018 to 2023) of the Maldivian Democratic Party (MDP) by securing 54% of the votes.
About Mohamed Muizzu: i.The 45-year-old Mohamed Muizzu is currently serving as the mayor of the capital Male since 2021, and he is the first mayor of Male to be elected by the people. ii.He had served as the minister of housing and environment from 2012 to 2018 under then-Maldives president Abdulla Yameen.
During his tenure as minister, he oversaw the building of the China-Maldives friendship bridge that connects the capital Male’, the international airport on Hulhule, and man-made Hulhumale Island.
iii.He had also served as the Governor of the Maldives for the Asian Infrastructure Development Bank (AIDB). About the 2023 Election: i.The candidate need to secures the necessary 50% to win in the Presidential elections in Maldives.
In the 1st round, Mohamed Muizzu secured 46 % while Ibrahim Solih secured 39%, none of them cross the threshold mark of 50%.
In the 3nd round, Mohamed Muizzu led with the 53 % of the polled while Ibrahim Solih secured only 46%.
About Maldives: The Maldives is an island nation in the Indian Ocean, comprised of 1192 islands that stretch along a length of 871 kilometers. President – Mohamed Muizzu Capital – Male Currency – Maldivian Rufiyaa
Shanth Kumar Elected as PTI Chairman; Praveen Someshwar as Vice-Chairman K.N. Shanth Kumar of Deccan Herald was elected as the Chairman of the Press Trust of India (PTI) for the one-year term and Praveen Someshwar, the Chief Executive Officer of Hindustan Times, was elected as the Vice-Chairman.
Shanth Kumar succeds Aveek Kumar Sarkar, who had served as Chairman of PTI for 2 consecutive terms (2020 – 2023). Shanth Kumar has previously held the Chairmanship of PTI from 2013 to 2014.
The election took place at a meeting of PTI’s Board of Directors following their Annual General Meeting at the headquarters of PTI in New Delhi, Delhi.
About K.N. Shanth Kumar: K.N. Shanth Kumar has been editor and director with The Printers (Mysore) since 1983.
The Printers (Mysore) are the publishers of Deccan Herald and Prajavani newspapers and related publications.
He was also the Chairman of the Audit Bureau of Circulation (ABC) and a member of the Indian Newspaper Society (INS) Executive Committee for more than 20 years.
About Praveen Someshwar: Someshwar also led PepsiCo’s business in the food and beverage sector across Asia. Note: PTI is India’s largest and oldest private news agency which was registered in 1947 and started functioning in 1949.
Regiment of Artillery Observed 197th Gunners dayThe Regiment of Artillery, an operational arm of Indian Army, annually observes September 28th as the “Gunners Day”.
The 28th of September 2023 marks the observance of the 197th Gunners day.
The day commemorates the raising of 5 (Bombay) Mountain Battery, equipped with 2.5-inch Guns as the 8th Company of the Golandaz Battalion, Bombay Foot Artillery (India’s first Artillery unit), on 28th September 1827.
What is Artilley? Artillery refers to a group of soldiers primarily armed with some form of manufactured weapon or armour. About Regiment of Artillery: i.The Regiment of Artillery, the second-largest arm of the Indian Army, has been a part of the Indian defence since its independence. ii.The motto of the Regiment is Sarvatra Izat-o-Iqbal (Everywhere with Honour and Glory). Contribution & Recognition: i.The regiment made their contribution is post independence wars such as Indo-China war 1962, Indo-Pakistan war 1947, Indo-Pakistan war 1965, Indo-Pakistan war 1965 and Kargil war 1999. ii.The regiment was recognised with honours such as:
Pre-independence era: One Victoria Cross, One Distinguished Service Order & 15 Military Crosses.
Post independence era: One Ashok Chakra, Seven Maha Vir Chakras, Nine Kirti Chakras, One Hundred and One Vir Chakras, Sixty Nine Shaurya Chakras, 6 Bar to Sena Medal, 502 Sena Medals besides many other decorations.
Breast Cancer Awareness Month 2023 – October 1 to 31Breast Cancer Awareness Month (BCAM) is annually observed across the globe during the month of October (from October 1 to 31) to raise awareness about breast cancer, promote early detection, support those affected by the disease, and raise funds for research, prevention, and treatment.
BCAM, the month-long global health campaign, serves as a reminder of the significance of regular breast examinations and mammograms to detect breast cancer at an early, more treatable stage.
Symbol: The pink ribbon is an international symbol of support for breast cancer awareness month.
In a global effort to raise awareness of breast cancer, October has been designated as “Pink Month“.
Background: i.The event started as National Breast Cancer Awareness Month (NBCAM), a weeklong event in October 1985. ii.It was organised in partnership between the American Cancer Society (ACS) and the pharmaceutical division of Imperial Chemical Industries, which would later become part of AstraZeneca.
NBCAM was organised to promote mammograms as the most effective tool to fight breast cancer.
International Day of Older Persons 2023 – October 1The United Nations (UN)’s International Day of Older Persons (IDOP) is annually observed across the globe on October 1 to raise awareness of the contributions and achievements of older individuals (defined as those aged 65 years or older) in society, as well as to promote their well-being and inclusion in all aspects of life.
1st October 2023 marks the observance of the 33nd anniversary of the IDOP.
Theme: The theme for IDOP 2023 is “Fulfilling the Promises of the Universal Declaration of Human Rights for Older Persons: Across Generations.”
The theme highlights the unique needs of older people globally in terms of their rights and reporting violations, in addition to fostering solidarity through equity and reciprocity between the generations offers long-term solutions to fulfil the Sustainable Development Goals’ (SDG) promise.
International Coffee Day 2023- October 1International Coffee Day (ICD) is annually observed across the globe on 1 October to celebrate and promote the global love and appreciation for coffee. This day provides an opportunity to recognize the significant cultural, economic, and social impact of coffee around the world.
ICD aims to recognise the millions of people across the globe, from farmers to roasters, baristas, coffee shop owners, and more, who work hard to create and serve the beverage.
The 2023 theme of International Coffee Day is, “promoting the right to a safe and healthy working environment in the coffee supply chain”.
ICD is celebrated by the International Coffee Organisation (ICO), with its 77 Member States and dozens of coffee associations from around the world.
Background: i.In March 2014, the Member States of the ICO agreed to observe International Coffee Day on 1 October of every year to create a single day of celebration for coffee lovers around the world. ii.The first official International Coffee Day was observed on 1 October 2015 by 74 member states of the ICO and 26 coffee associations from around the world.
ICD is a celebration of the coffee sector’s diversity, quality, and passion.
iii.The first ICD coincides with the 115th session of the International Coffee Council (ICC) and the first Global Coffee Forum (GCF) which took place during Expo Milan 2015 in Milan, Italy. About International Coffee Organisation (ICO): Chair of the International Coffee Council (ICC 2022-2023)– Massimiliano Fabian Executive Director– Vanúsia Nogueira Headquarters– London, United Kingdom ICO is the main intergovernmental organization for coffee. Its Member governments represent 98% of world coffee production and 67% of world consumption. ICO was set up in 1963 under the auspices of the UN.
World Vegetarian Day 2023 – October 1 World Vegetarian Day(WVD) is annually observed across the globe on October 1 to promote the joy, compassion and life-enhancing possibilities of vegetarianism.
World Vegetarian Day marks the beginning of Vegetarian Awareness Month, which begins on 1st October and concludes on 1st November, World Vegan Day.
Background: i.World Vegetarian Day was formed in 1977 by the North American Vegetarian Society (NAVS). ii.The day was endorsed by the International Vegetarian Union (IVU) in 1978. iii.As of now World Vegetarian Day is celebrated in more than 180 countries around the world.
It is also recognized as a national day in several countries, including India, Brazil, China, France, and Thailand.
Significance i.The day spread the benefits of a vegetarian lifestyle and encourages people to explore plant-based diets to create positive impact on health and the environment. ii.Around 22% of the global population is vegetarian. iii.Most number of vegetarians reside in India with 38% of the total population following meat-less diet .
Followed by Israel and Taiwan with 13% and 12% respectively.
Types Of Vegetarians Vegetarians are individuals who typically do not eat animal products, but some groups are defined by the types of animal-derived foods that they eat. i.Lacto-ovo vegetarians: They consume eggs and dairy products but do not eat any meat, poultry, or fish. ii.Lacto vegetarians: they omit eggs, meat, fish, and poultry, but do consume dairy products. iii.Vegans: They omit all foods derived from animals, including eggs, dairy, meat, fish, and poultry.
Uttarakhand CM UK Visit from 25-28th September 2023: MoUs worth Rs. 12,500 Crore Signed for Investment ProposalsUttarakhand Chief Minister (CM) Pushkar Singh Dhami visited the United Kingdom (UK) from September 26-28, 2023 to invite Non-Resident Indians (NRIs) and industrialists for the upcoming Uttarakhand Global Investor Summit to be held in Dehradun, Uttarakhand in December 2023 to achieve the goal of a strong Uttarakhand.
He participated in a roadshow organised for the Global Investors’ Summit in Birmingham (UK) and held a meeting with various industrialists.
On his 4-day visit, the Uttarakhand government signed a Memoranda of Understanding (MoUs) with various companies for investment proposals worth more than Rs 12,500 crore.
Uttarakhand CM participated in the Roadshow organized for the Global Investors Summit in Birmingham (UK) and held discussions with various prospective industrialists of Birmingham.
The theme of the Global Investor Summit to be organized in Uttarakhand has been kept as “Peace to Prosperity”.
Uttarakhand CM participated in the Roadshow organized for the Global Investors Summit in Birmingham (UK) and held discussions with various prospective industrialists of Birmingham. Investment MoUs worth Rs 3,000 crore were signed by the government of Uttarakhand during Pushkar Singh Dami’s 4-day visit to the UK. The MoUs were signed with 2 companies during the meeting organised for the Global Investors Summit in London, UK.
An MoU worth Rs 2,000 crore was signed with Aager Technology and another for investment worth Rs 1,000 crore with Fira Barcelona.
Ministry of I&B Made Significant Revisions to the Cable Television Network Rules of 1994Ministry of Information and Broadcasting (MIB) issued a notification amending the Cable Television Network(CTN) Rules of 1994. Moreover, a new provision has been added, enabling Cable Operators to share infrastructure with Broadband Service providers.
This amendment introduces a formal procedure for the renewal of registrations for Multi-System Operators (MSOs). This significant change updates the rules which previously only allowed for fresh registrations.
Key Points: i.Following are the amended rules:
MSOs will be required to submit their registration or renewal applications online through Broadcast Seva Portal of MIB.
Registrations for MSOs will be approved or renewed for a duration of ten years.
A processing fee of Rs. One lakh will be applicable for the renewal of registration.
Request for the renewal of registration must be made within seven to two months prior to the expiration of the current registration.
ii.The Ministry has provided a dedicated helpline number and email address (sodas-moiab[at]gov[dot]in) for any necessary assistance. iii.This initiative ensures continuity of services for cable operators without interruptions, enhancing the sector’s appeal for foreign investment. What is A “Multi-System Operator (MSO)” ?– It is referring to a cable operator who receives programming services from a broadcaster or their authorized agents. The MSO then re-transmits these services or transmits their own programming simultaneously to multiple subscribers. This transmission can occur either directly or through one or more local cable operators (LCOs). The definition of MSO also encompasses their authorized distribution agencies, regardless of the terminology used to refer to these entities. About Broadcast Seva Portal Launched By – Ministry of Information and Broadcasting It is a centralized platform where multiple stakeholders and applicants submits their requests for various activities issued by the Ministry of Information and Broadcasting (MIB) in the field of broadcasting. About Ministry of Information and Broadcasting Union Minister – Anurag Thakur (Lok Sabha – Hamirpur, Himachal Pradesh) Minster of State (MoS) – Dr. L. Murugan
DEA hikes interest rate on 5-year Recurring Deposit Scheme to 6.7% for Q3FY24The Department of Economic Affairs (DEA-Budget Division), Ministry of Finance, has increased the interest rate on the 5-year recurring deposit scheme by 20 basis points to 6.7% from 6.5% for the 3rd quarter (October-December) of 2023-2024 i.e. Q3FY24.
The rates of other small savings schemes remained unchanged.
Interest Rates on Small Savings Schemes for Q3FY24
The formula to arrive at the interest rates for small savings scheme was given by the ShyamalaGopinath Committee in January 2023.
India retains 40th rank in Global Innovation Index 2023: Innovation in the face of uncertaintyThe World Intellectual Property Organization (WIPO), an agency of the United Nations, published the 16th edition of the Global Innovation Index (2023). India retains 40th rank among 132 economies. While Switzerland secured the top spot in the rankings, with Sweden and the United States of America (USA)following closely.
NITI Aayog, in partnership with Confederation of Indian Industry (CII) and WIPO, has hosted the virtual India Launch of Global Innovation Index (GII) on September 29, 2023.
India was also highlighted as the top innovation economy among the lower-middle-income countries, followed by Viet Nam and Ukraine.
India, the Republic of Moldova, and Viet Nam continue to set records by being innovation overperformers for a 13th consecutive year.
About World Intellectual Property Organization (WIPO): It is the global forum for intellectual property (IP) services, policy, information and cooperation with 193 member states (As of 30 September 2023). Establishment– 1967 Director General– Daren Tang Headquarters– Geneva, Switzerland
India, Argentina sign Social Security Agreement for ProfessionalsOn September 29, 2023, a Social Security Agreement (SSA) was signed between India and Argentina to ensure professionals and workers retain benefits and contributions made toward social security, promoting easier mobility between countries. Signatories: SSA was signed by Dinesh Bhatia, India’s Ambassador to Argentina; and Santiago Cafiero, Argentina’s Minister of Foreign Affairs, International Trade and Worship in the presence of Raquel Kismer de Olmos, Argentine Minister of Labour, Employment and Social Security. Key Points: i.This SSA covers Indian laws on old age, survivor’s pension and permanent, total disability pension for employed persons, and includes Argentina’s contributory benefits under their Social Security System. ii.The agreement grants temporary overseas workers and their families full rights to contributory benefits such as cash allowance for retirement or pension, rent, subsidy or lump sum payments, without reduction, modification, or suspension. iii.It establishes the legal framework regulating insurance period i.e., period of services credited with contributions, contributory benefits and export thereof, in respect of detached workers, including crew members of airlines and ships. iv.It sets the legal framework for insurance period, contributory benefits, and export rights for detached workers, including airline and ship crew members detached workers, i.e., employees working in another country on a temporary basis. About Argentina: President– Alberto Angel Fernandez Capital– Buenos Aires Currency– Argentine Peso
ADB Capital Management Reforms Bring $100 Billion Benefits Over Next Decade to Asia-PacificAsian Development Bank (ADB) announced the approval of capital management reforms that are set to release approximately USD($)100 billion in fresh funding capacity over the next decades for financing projects in Asia-Pacific region.
People in Asia and the Pacific, especially those who are poor and vulnerable, are facing severe challenges due to escalating and interconnected crises.An estimated 155 million people, or 3.9% of the region’s population, lived in extreme poverty as per the report in 2022.
Key Points: i.This funding is intended to tackle significant Asian challenges, notably climate change. ii.These reforms were implemented by updating the ADB’s Capital Adequacy Framework (CAF). iii.These reforms significantly enhance the bank’s capacity for new commitments, allowing it to commit to projects and initiatives totaling more than USD 36 billion annually. iv.This represents a substantial increase of approximately USD10 billion, which representing about a 40% rise in the ADB’s capability to fund various projects, initiatives ,infrastructure, and other essential sectors in the Asia-Pacific region. v.ADB’s strategic measures enable $360 billion financing for member countries and private clients. Safeguarding AAA credit rating, they ensure affordable, long-term funding, sustaining developmental support for member countries.” Role of ADB’s Capital Adequacy Framework (CAF)
CAF evaluates assets, liabilities, and risks to ensure the bank maintains enough capital to meet obligations, even in defaults or asset depreciation and ensuring financial stability.
ADB reviews its CAF every 3 years to ensure it is benchmarked against best practices and aligned with the evolution of ADB’s operations.
Additional Information
Multilateral Development Banks (MDBs) such as ADB and World Bank are advised to raise their yearly expenditures by USD 3 trillion by 2030. This includes USD 1.8 trillion for additional climate action and USD 1.2 trillion for achieving other sustainable development goals (SDGs). These suggestions come from a committee led by N.K. Singh and Lawrence Summers, co-conveners of the G20 expert group on strengthening MDBs.
In May 2023, ADB established the Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP).
About Asian Development Bank: President – Masatsugu Asakawa Headquarters – Manila, Philippines Establishment – 1966 Members – 68 members (49 from Asian and the Pacific and 19 outside)
SEBI Extends Demat Account and Mutual Fund Unit Holder Nominations Deadlines Until December 2023
The Securities and Exchange Board of India (SEBI) extended the deadline for adding nominees to demat accounts and submitting PAN and KYC details for physical security holders until December 31, 2023.SEBI also extended the nomination deadline specifically for mutual fund unit holders until January 1, 2024. Extension Deadline for Current Demat Account Holders The Securities and Exchange Board of India (SEBI) has announced an extension of the deadline for current demat account holders to select their nominees for an additional three months, now ending on December 31, 2023.
Sebi’s circular on March 16, 2023, required submission of PAN, nomination, contact, bank, and signature details for physical securities by September 30, 2023. The deadline has been extended to December 31, 2023, preventing folio freezing.
Sebi extended the deadline for Demat account holders to make their ‘choice of nomination’ until December 31, 2023.
This extension applies to both new and existing Demat accounts. The goal of this initiative is to guarantee that the assets held in these accounts are transferred to the rightful beneficiaries in the event of the account holder’s passing.
Sebi has directed stock exchanges, depositories, Registrar and Transfer Agents (RTAs), and listed companies to implement the provisions outlined in its recent circular.
Demat Account
A Demat account or Dematerialized account, is an electronic account used for holding and trading financial securities such as stocks, bonds, mutual funds, government securities, and exchange-traded funds (ETFs) in electronic format.
Demat accounts simplify the process of trading, eliminating the risks associated with physical certificates, such as theft, loss, or forgery. When an investor buys or sells securities, the changes are reflected electronically in the Demat account.
Extension Deadline for Mutual Fund Unit Holders i.SEBI has extended the deadline to another three months for mutual fund account holders to nominate a beneficiary or opt out until January 1,2024. If investors fail to comply, their folios will be frozen with effective from January 1,2024. Earlier, the deadline for existing mutual fund holders to provide a choice of nomination was September 30. ii.SEBI has directed asset management companies (AMCs) and registrar and transfer agents (RTAs) to regularly remind investors via email and SMS to fulfil the nomination requirements. iii.This mandate, introduced on June 15, 2022, required mutual fund holders to submit nomination details or opt-out declarations starting from August 1, 2022, with multiple deadline extensions since. About SEBI Chairman- Madhabi Puri Buch Headquarters- Mumbai, Maharashtra Established- constituted as a non-statutory body on April 12, 1988 and it was established as a statutory body in the 1992.
President of India Presents National Service Scheme Awards for the Year 2021-2022On 29 September 2023, the President of India, DroupadiMurmupresented the National Service Scheme Awardsfor the year 2021-2022 at Rashtrapati Bhavan in New Delhi, Delhi. The award was given to 52 persons to recognize their outstanding contributions towards voluntary community social services.
The awards included 3 categories namely Universities/+ 2 Council (2 Awards); NSS units and their Programme Officers (10 NSS Units + 10 Programme Officers); and NSS volunteers (30 Awards).
About National Service Scheme (NSS): Director– Pankaj Kumar Singh Headquarters– New Delhi, Delhi Launched on– 24th September, 1969 The Motto or watchword of the NSS: “NOT ME BUT YOU”.
2023 SASTRA Ramanujan Prize awarded to Mathematician Ruixiang ZhangThe Shanmugha Arts, Science, Technology & Research Academy (SASTRA) Ramanujan Prize for 2023 will be awarded to Ruixiang Zhang of China, Assistant Professor at the University of California, Berkeley, the United States of America(USA) for his contribution to Mathematics from analytic number theory, combinatorics, Euclidean harmonic analysis to geometry.
The Prize will be conferred at the International Conference on Number Theory, which will be held from 20 to 22 December 2023 at SASTRA University in Kumbakonam(birthplace of Ramanujan) of Thanjavur district, Tamil Nadu.
About Ruixiang Zhang: i.In 2022, he was awarded Sloan Research Fellowship, one of the most prestigious honors given to early-career scientific researchers for 2022-24. ii.His work has appeared in Inventiones Mathematicae in 2019. iii.In 2008, he received a gold medal at the 49th International Mathematical Olympiad (IMO), held in Madrid, Spain. iv.He contributed to solving two long-standing problems in restriction theory:
Carleson’s problem on pointwise convergence of solutions to the Schr¨odinger equation.
The two-dimensional case of Sogge’s local smoothing conjecture for wave equations.
About SASTRA Ramanujan Prize: i.The SASTRA Ramanujan Prize, instituted by the SASTRA University in 2005 with a cash prize of USD 10,000. ii.The first SASTRA Ramanujan Prizes were awarded jointly to Professors Manjul Bhargava (Princeton University) and Kannan Soundararajan (University of Michigan) in 2005. The criteria for the awardees: The award is given annually to a mathematician not exceeding the age of 32 for outstanding contributions in an area of Mathematics.
The age limit has been set at 32 because Indian mathematical genius Srinivasa Ramanujan achieved so much in his brief life of 32 years.
SASTRA Ramanujan Prize Committee: The 2023 SASTRA Ramanujan Prize Committee comprised
Krishnaswami Alladi -Chair (University of Florida, USA),
Don Blasius (University of California, Los Angeles, USA)
Sergei Konyagin (Lomonosov Moscow State University, Russia)
Jonathan Pila (Oxford University, United Kingdom)
Bjorn Poonen (Massachusetts Institute of Technology, USA)
Zeev Rudnick (Tel Aviv University, Israel), and
Wadim Zudilin (Radboud University, The Netherlands)
Additional info: National Mathematics Day is annually celebrated across India on December 22 to mark the birth anniversary of renowned Indian Mathematician Srinivasa Ramanujan.
International Olympic Committee Announced the Winners of the Inaugural IOC Climate Action AwardsThe International Olympic Committee (IOC) announced the winners of the inaugural IOC Climate Action Awards, which recognise athletes, International Federations (IFs), and National Olympic Committees (NOCs) for their efforts to combat climate change.
IOC Climate Action Awards 2023 were awarded under 3 categories: sustainable travel, innovation, and athlete advocacy.
The 2023 awards are supported by Worldwide Olympic and Paralympic Partners Airbnb, Deloitte and Procter & Gamble (P&G).
Winners of the 2023 awards include Athletes Ben Blankenship (athletics, USA), Marcus Mepstead (fencing, Great Britain) and Paloma Schmidt (sailing, Peru) and World Rugby, World Sailing, the Colombian Olympic Committee and the Spanish Olympic Committee. The IOC Climate Action Awards was introduced in November 2022, with the goal of highlighting how sport can play an essential part in addressing the climate issue. About International Olympic Committee: The International Olympic Committee is the administrator of the Olympic Games and the driving force behind the Olympic Movement. President – Thomas Bach Headquarters – Lausanne, Switzerland Established – 1894
IFC Received RBI’s Approval for Acquiring 9.7% stake in Federal BankInternational Finance Corporation(IFC) has received approval from Reserve Bank of India (RBI) to acquire upto 9.7% of the paid-up share capital or voting rights of the in Federal Bank Limited (subject to the conditions specified therein).
The approval has been granted by RBI with reference to the application made by IFC.
Key Points: i.In July 2023, the Federal Bank raised Rs 959 crore from IFC through a preferential issue of shares. ii.IFC currently holds a 1.34% of the paid-up share capital or voting rights in the bank. Followed Regulations: The approval granted by RBI is subject to the compliance with the relevant provisions of the
Banking Regulation(BR) Act, 1949.
RBI’s Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023 (as amended from time to time).
Foreign Exchange Management Act(FEMA) 1999.
Regulation 30 of Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Any other guidelines, regulations and statutes as applicable.
About International Finance Corporation(IFC): IFC is one of the members of the World Bank Group(WBG). It is the largest global development institution focused exclusively on the private sector in developing countries. Managing Director – Makhtar Diop Headquarters – Washington DC, United States of America(USA) Established in – 1956 About Federal Bank Limited: Managing Director(MD) & Chief Executive Officer(CEO) – Shyam Srinivasan Headquarters – Aluva, Kerala Established in 1931 Tagline – Your Perfect Banking Partner
Air India Completes Acquisition of its 1stA350-900 Aircraft through GIFT CityOn September 29, 2023, Tata Group owned Air India successfully acquired India’s first Airbus A350-900 aircraft by way of finance lease transaction with HSBC through AI Fleet Services Limited (AIFS), a 100% subsidiary of Air India, and a Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC)-registered finance company.
Air India is the India’s first scheduled carrier to have acquired an aircraft from an entity registered in GIFT City.
It is also its first financing transaction from its orders for 470 aircraft that were made earlier in 2023.
Key Points: i.Air India has placed orders for six A350-900 planes and five of them are scheduled for delivery through March 2024.
Apart from these, it orders 470 new aircraft include 34 A350-1000s, 20 Boeing 787 Dreamliners, 10 Boeing 777Xs, 140 A320 neos, 70 A321 neos and 190 Boeing 737MAXs.
ii.Air India had signed purchase agreements to acquire these aircraft with Airbus and Boeing on the sidelines of Paris Air Show held in June 2023. Note: Tata Sons acquired a 100% stake in loss-making Air India in January 2022 through its fully owned subsidiary, Talace Private Limited. About International Financial Services Centres Authority (IFSCA): IT has been established on April 27, 2020 under the International Financial Services Centres Authority Act, 2019. Chairperson– K. Rajaraman Headquarters– Gujarat International Finance Tec-City (GIFT City), Gandhinagar, Gujarat
MoS Dr Jitendra Singh Launches IGMS 2.0 Public Grievance portal & Automated Analysis in Tree Dashboard Portal of DARPGOn September 29, 2023, the Union Minister of State (MoS) Dr Jitendra Singh, Ministry of Personnel, Public Grievances & Pensions, launched the Intelligent Grievance Monitoring System (IGMS) 2.0 Public Grievance portal and Automated Analysis in Tree Dashboard portal of the Department of Administrative Reforms and Public Grievances (DARPG).
He also launched the Swachhata Special Campaign 3.0 and released the Precedent Book (e-book) prepared by DARPG.
Note: DARPG work under the aegis of Ministry of Personnel, Public Grievances and Pensions. About IGMS 2.0: i.IGMS 2.0 dashboard has been implemented by the Indian Institute of Technology (IIT) Kanpur, Uttar Pradesh (UP) following a Memorandum of Understanding (MoU) with DARPG on December 14, 2021 for upgrading Centralised Public Grievance Redress and Monitoring System (CPGRAMS) with Artificial Intelligence (AI) capabilities. ii.The IGMS portal provides instant tabular analysis of grievances filed and disposed, enabling officials to identify root causes. iii.It automates grievance processing for the 20 lakh annual complaints on CPGRAMS, expediting resolutions.
Notably, Reforms led by DARPG have slashed average resolution time from 32 to 18 days, a 50% decrease.
Launch ofSwachhata Special Campaign 3.0 Union MinisterDr Jitendra Singh also launched the Swachhata Special Campaign 3.0 w.e.f. October 2, 2023 i.e. on the occasion of Birth Anniversary of Father of the Nation, Mahatma Gandhi, till 31st October, 2023.
It is a sequel of the Special campaigns conducted in the last two years.
DARPG is the Nodal Department for implementation of Special Campaign 3.0.
Key Points: i.It will focus on field/outstation offices responsible for service delivery or having public interface, in addition to the Ministries/Departments and their attached/subordinate offices. ii.DARPG introduced 300 Best Practices for all Ministries, emphasizing a ‘Whole of Government’ and ‘Whole of Science’ approach, in Special Campaign 3.0.
IAF inducts 1st of 6 Dornier Do-228 aircraft Manufactured by HAL The Indian Air Force (IAF) inducted the first of six new Dornier Do-228, 19 seater aircraft, manufactured Hindustan Aeronautics Limited (HAL), a Public Sector Undertaking(PSU) under the Ministry of Defence(MoD). About Dornier Do-228: i.In March 2023, the MoD signed an agreement with HAL to manufacture these aircraft with a budget of Rs 667 crore. ii.Dornier Do-228 aircraft has enhanced fuel efficiency engines, five-bladed composite propellers, advanced avionics, and a modern glass cockpit. Uses: i.The Dornier-228 aircraft is a multifunctional, lightweight transport aircraft which can perform functions from utility and commuter transport to maritime surveillance. ii.IAF uses the aircraft for Route Transport Role and communication tasks. This also plays a vital role in training transport pilots.
Protosticta Armageddonia: Pune researchers found new Damselfly Species in Western Ghats, KeralaResearchers from MIT-World Peace University (MIT-WPU) in Pune (Maharashtra) have discovered Protosticta Armageddonia (Armageddon Reedtail), a new species of damselfly in the southern Western Ghats of Kerala.
They name “Armageddon” symbolizes the global crisis of habitat loss and climate change affecting insect populations.
The discovery of the new species has been documented in the International Journal of Odonatology. It has also been recorded and registered with the Zoological Survey of India (ZSI), Pune.
This new species, with its ominous name, serves as a clear reminder of the ongoing ecological crisis powered by uncontrolled habitat loss and climate change.
Note: The International Journal of Odonatology is a publication affiliated with the Worldwide Dragonfly Association based in the United States of America (USA). Genus and Species: i.The new damselfly species, P.Armageddoniabelongs to the genus ‘Protosticta‘ in the family Platystictidae, which is endemic to Western Ghats in India. ii.The genus Protosticta consists of slender-built damselflies commonly called reed-tails or shadow damsels. iii.It belongs to the order Odonata (“toothed ones”) and one of its group Zygoptera (which includes damselflies). Armageddon: i.The name, Armageddon Reedtail, is a direct reference to the concept of “Ecological Armageddon”, which describe the devastating decline of insect populations around the world. ii.This phenomenon, also called insect apocalypse, affects entire ecosystems because insects pollinate, cycle nutrients, and provide food for other animals. Features: i.The newly found species exhibits a captivating dark brown to black body with vibrant greenish-blue eyes. ii.It features delicate pale blue markings on half of its eight abdominal segments. iii.Its exclusive habitat choice is primary montane streams, where it grows beneath dense canopy cover. iv.The new species is distinguished from its other damselflies by a combination of characteristics, including:
A marking on the ventral side of the thorax, structure, and colour of the prothorax.
Markings on the 8th abdominal segment;
The structure of caudal appendages and genital ligula.
Note: A new species of ProtostictaSelys (1885), is described based on specimens collected from northeast of Thiruvananthapuram, Kerala, in the southern parts of the southern Western Ghats of India. Research Team: i.Dr. Pankaj Koparde (Lead Researcher for the Armageddon Reedtail), Assistant Professor, Department of Environmental Studies at MIT-WPU. ii.Arajush Payra, PhD Scholar, MIT-WPU, entomologist and lead author. iii.Ameya Deshpande, MSc Environmental Science Student at MIT-WPU. iv.Mr. Reji Chandran, a prominent wildlife photographer and team member first spotted the species.
These 2 books are published by New Delhi(Delhi)–based autonomous policy research institute Research and Information System for Developing Countries(RIS).
This book showcases the range and diversity of Indian culture through length and breadth of India
International Translation Day 2023- September 30The United Nations (UN) International Translation Day (ITD) is annually observed across the globe on 30 September to recognise and honour the invaluable contributions of translators and language professionals, who facilitate communication between nations strengthening global peace, cooperation, understanding, and development.
The day is observed by the Fédération Internationale des Traducteurs/International Federation of Translators (FIT) to highlight the significant role of translators all across the world.
Since 1991, FIT has celebrated ITD, creating an annual theme as the basis for the celebrations.
The 2023 theme of ITD is, “Translation unveils the many faces of humanity“.
Background: i.On 24 May 2017, the United Nations General Assembly (UNGA) in its 71st session adopted the resolution A/RES/71/288 and declared 30 September of every year as International Translation Day. ii.The firstUN-recognised ITD was observed on 30 September 2017. About International Federation of Translators (FIT): President– Alison Rodriguez Secretary-General– Alexandra Jantscher Headquarters– Paris, France Established in– 1953
Chhattisgarh CM Bhupesh Baghel Inaugurates various Schemes and Infrastructural Projects Worth Rs 1021.59 CroreChhattisgarh Chief Minister (CM) Bhupesh Baghel virtually inaugurates various schemes and infrastructural projects worth Rs 1021.59 crore.
The schemes include the installation of a panic button and Global Positioning System (GPS) services as part of the Nirbhaya project in every passenger vehicle to locate the vehicle once the panic button is pressed.
He inaugurated bio-ethanol demonstration plant, Chhattisgarh Niwas, and launched Chief Minister Construction Workers Pension Assistance Scheme, Automatic Number Plate Recognition (ANPR) based e-detection system.
Key Points: i.The Nirbhaya Command and Control Center was established to ensure women’s safety.
If the panic button is pressed in case of an emergency, the Command Centre will receive information through Chhattisgarh’s emergency number (Dial 112) and the location of the vehicle can be found through the GPS system already installed.
New initiatives launched: i.CM also inaugurated a state-of-the-art bio-ethanol demonstration plant in Godhi, Durg District to promote biofuel.
The Chhattisgarh Biofuel Development Authority has prepared the technical design and drawings of the plant under the guidance of scientists from the Council of Scientific and Industrial Research (CSIR) and the Central Salt and Marine Chemicals Research Institute (CSMRI).
ii.The Chief Minister Construction Workers Pension Assistance Scheme was launched. Under this initiative, the pension amount of Rs 1,500 per month for life will be given to the construction workers who are registered for ten years and completed 60 years of age. iii. Automatic Number Plate Recognition (ANPR) based electronic-detection (e-detection) system to take strict measures against vehicles plying without fitness, tax, and proper documents.
The implementation of the ANPR system will enable automatic fines for vehicles without fitness and tax when they pass through the roads.
iv.Baghel also inaugurated the Chhattisgarh Niwas in New Delhi, Delhi.
It was built at a cost of Rs 60.42 crore on a 43,803-square-foot area.
v.He also inaugurated the first tennis academy of Chhattisgarh in Labhandi, Raipur at a cost of Rs 18 crore. About Chhattisgarh: Chief Minister – Bhupesh Baghel Governor – Biswa Bhusan Harichandan Dance Forms – Saila Dance, Karma, Sua Nacha Festivals: Bastar Dussehra, Bastar Lokotsav, Fagun Wadai