NATIONAL UPDATES:
1. PM
Narendra Modi dedicates to nation 35 PSA Oxygen Plants: Prime Minister
Narendra Modi dedicated 35 Pressure Swing Adsorption (PSA) Oxygen Plants to the
nation through video-conferencing, during an event at AIIMS Rishikesh,
Uttarakhand. These 35 PSA Oxygen Plants have been established under PM CARES,
across 35 States and Union Territories. Now all districts of the country will
now have commissioned PSA Oxygen Plants. As per the data, a total of 1,224 PSA
oxygen plants have been funded under the PM-CARES (Prime Minister’s Citizen
Assistance and Relief in Emergency Situation) fund across the country till date
and of these, more than 1,100 plants have already been commissioned providing
an output of over 1,750 MT oxygen per day.
2.
Centre organises ‘Buddhist Circuit Train FAM Tour and Conference’: Union Minister of
State for Tourism, Ajay Bhatt has flagged off the “Buddhist Circuit Train FAM
Tour” from Safdarjung railway station (part of Delhi Suburban Railways).
Ministry of Tourism in association with the Indian Railway Catering &
Tourism Corporation (IRCTC) has organized the Buddhist Circuit Train FAM Tour
as part of the Union government’s “Dekho Apna Desh” initiative. The tour will
cover the visit of prominent Buddhist sites and conferences at Bodhgaya and
Varanasi. The event is likely to be attended by around 125 delegates including
tour operators, hoteliers, media and officials of the Ministry of Tourism and
state governments.
3.
Mukesh Ambani tops Forbes India Rich List 2021: The Reliance
Industries Limited (RIL) Chairman Mukesh Ambani has topped the Forbes India
Rich list for 2021, released. The list ranks India’s 100 richest Indians. He
has retained his position as the wealthiest Indian for the 14th consecutive
year on the Forbes India list, since 2008. The tycoon added $4 billion to his
net worth in 2021, to bring his total fortune to $92.7 billion. The total
fortune of Forbes India 100 Richest Indian in 2021 is recorded at US$775
billion. India’s 100 richest are now worth $775 billion. The second spot has
been retained by Adani Group Chairman Gautam Adani, with a net worth of $74.8
billion. Tech tycoon Shiv Nadar acquired the third spot with net worth of $31
billion.
4. PL
Haranadh takes charge as Chairman of Paradip Port Trust: P L Haranadh, an
Indian Railway Traffic Service (IRTS) officer of the 1994 batch, has been
appointed as the new Chairman of Paradip Port Trust (PPT). Haranadh has worked
in various capacities, during his 27 years of service, which includes 22 years
in the Indian Railways and 5 years in the Ministry of Shipping. Paradip Port
Trust (PPT) is the lone major port in Odisha.
Note: Paradip Port Trust Headquarters:
Paradip, Odisha; Paradip Port Trust Opened: 12 March 1966.
5. E.
R. Sheikh becomes first Director General of the Ordnance Directorate: E.R. Sheikh has
assumed charge as first Director-General of the Ordnance Directorate
(Co-ordination and Services). It is the successor organization of the Ordnance
Factory Board (OFB). He has contributed to the establishment of the modern
production line system for the manufacture of small arms ammunition at the
Ordnance Factory Varangaon. He led the successful development of the Bi-Modular
Charge System for artillery ammunition.
6. A
book title “Economist Gandhi” by Jaithirth Rao: Indian Entrepreneur
and writer Jaithirth Rao, popularly known as Jerry Rao, has come out with a
book on Mahatma Gandhi titled “Economist Gandhi: The Roots and the Relevance of
the Political Economy of the Mahatma”. Jaithirth Rao is the founder and former
CEO of the software company Mphasis. The book examines Mahatma Gandhi’s
economic philosophy and his hidden facet personality- thoughts on economics and
capitalism. The book has been published by the Penguin Random House India.
7.
National Postal Day: 10th October: In India, the National Postal Day is
celebrated annually on 10 October, as an extension of World Post Day, which is
celebrated on 9 October. The Day aims to commemorate the role played by the
Indian postal department for the past 150 years, which was founded in 1854 by
Lord Dalhousie. Indian postal service is an integral part of India. The postal
services in India have given the best performance despite the diversity in
culture, tradition and difficult geographical terrains.
India’s PIN Code system: PIN in Pincode
stands for Postal Index Number. The 6-digit PIN system was introduced by
Shriram Bhikaji Velankar, an additional secretary in the Union Ministry of
Communications on 15 August 1972. The first digit of the PIN code marks the
region. The second digit denotes the sub-region. The third digit marks the
district. The last three digits show the post office under which a particular
address falls.
Note: Indian Post Secretary: Vineet Pandey;
Indian Post Headquarters: New Delhi.
INTERNATIONAL UPDATES:
1.
World Mental Health Day: 10th October: World Mental Health Day is observed every
year on 10 October globally for global mental health education, awareness and
advocacy against social stigma. The overall objective of World Mental Health
Day is to raise awareness of mental health issues around the world and to
mobilize efforts in support of mental health. The theme for World Mental Health
Day 2021 is ‘Mental health in an unequal world’.
History and Significance of World
Mental Health Day:
World Mental Health Day was first observed on October 10, 1992, as an annual
activity of the World Federation for Mental Health. The Day provides an
opportunity for all stakeholders working on mental health issues to talk about
their work, and what more needs to be done to make mental health care a reality
for people worldwide.
2.
World Day Against the Death Penalty: 10th October: The World Day
Against the Death Penalty is observed every year on 10 October. It is a day to
advocate for the abolition of the death penalty and to raise awareness of the
conditions and the circumstances which affect prisoners with death sentences.
The theme for 2021 is “Women Sentenced to Death: An Invisible Reality.”
History of the day: The day was first
organised by the World Coalition Against the Death Penalty in 2003. 2021 marks
the 19th World Day Against the Death Penalty.
OTHER UPDATES:
SPORTS
1.
ISSF Junior Championships: Aishwary Pratap Singh Tomar wins gold: Young Indian
shooter, Aishwary Pratap Singh Tomar smashed the world record in the final to
win gold in the men’s 50m rifle 3 positions event at the ISSF Junior World
Championships in Lima, Peru. The youngster then bettered the junior world
record in the final with a score of 463.4, finishing nearly seven points ahead
of second-placed Frenchman Lucas Kryzs, who won the silver with a score of
456.5. Gavin Barnick of the USA won bronze with a score of 446.6.
2.
Indian hockey players sweep FIH Stars Awards: Indian hockey
players swept the 2020-21 edition of the FIH Stars Awards, the international
hockey federation (FIH) announced. The winners were decided based on an online
poll conducted from August 23 to September 15 which saw national associations,
represented by their respective national captains and coaches, players, media
and hockey fans cast their votes.
Votes from national associations counted
for 50 per cent of the overall result, while fans and players (25 per cent) as
well as media (25 per cent), accounted for the other half.
FIH Stars Awards 2020-21: Winners
list:
Player of the Year: Harmanpreet Singh (men)
and Gurjit Kaur (women)
Goalkeeper of the Year: PR Sreejesh (men)
and Savita Punia (women)
Rising Star of the Year: Vivek Sagar Prasad
(men) and Sharmila Devi (women)
Coach of the Year: Graham Reid (men) and
Sjoerd Marijne (women)
BANKING AND FINANCE
1.
RBI Monetary Policy: The
Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) kept the repo
rate unchanged in the fourth bi-monthly policy meet for the financial year
2021-22 headed by RBI Governor Shaktikanta Das has maintained the status quo.
The Monetary Policy Committee kept the repo rate unchanged at 4 per cent. The
reverse repo rate will continue to be 3.35 per cent. The meeting was held
between October (6 to 8). The remaining will take place in December (6 to 8)
and February (7 to 9, 2022).
Policy Repo Rate: 4.00%
Reverse Repo Rate: 3.35%
Marginal Standing Facility Rate: 4.25%
Bank Rate: 4.25%
CRR: 4%
SLR: 18.00%
RBI Monetary Policy Highlights &
Key Decisions:
(1) FY22 GDP growth forecast maintained at
9.5%.
(2) CPI inflation is projected at 5.3% for
the current fiscal year.
(3) Bond purchases under G-SAP stopped.
(4) Open market operations to continue as
needed.
(5) Internal ombudsman plan for non-bank
lenders.
(6) On-tap special LTRO of 3 years worth Rs
10,000 crore for small businesses extended till Dec 31.
(7) Framework planned for retail digital
payments in offline mode.
(8) Immediate Payment Service (IMPS)
limited upped from Rs 2 lakh to Rs 5 lakh
(9) No compulsion for banks to park money
in variable reverse repo rate (VRRR).
The composition of the Monetary Policy
Committee is as follows:
(1) Governor of the Reserve Bank of India –
Chairperson, ex officio: Shri Shaktikanta Das.
(2) Deputy Governor of the Reserve Bank of
India, in charge of Monetary Policy– Member, ex officio: Dr Michael Debabrata
Patra.
(3) One officer of the Reserve Bank of
India to be nominated by the Central Board – Member, ex officio: Dr Mridul K.
Saggar.
(4) A professor at the Mumbai-based Indira
Gandhi Institute of Developmental Research: Prof. Ashima Goyal.
(5) A professor of finance at the Indian
Institute of Management in Ahmedabad: Prof. Jayanth R Varma.
(6) An agricultural economist and a senior
adviser with the National Council of Applied Economic Research in New Delhi: Dr
Shashanka Bhide.
BUSINESS AND ECONOMY
1.
World Bank Projects Indian GDP to grow at 8.3% in FY22: The World Bank has
estimated India’s real Gross Domestic Product (GDP) in the current fiscal year
2021-22 to grow by 8.3% in its latest economic update for South Asia. India’s
economy, South Asia’s largest, is expected to grow by 8.3 per cent in the
fiscal year 2021-22, aided by an increase in public investment and incentives
to boost manufacturing,”. The World Bank said in its update on South Asia,
titled ‘Shifting Gears: Digitization and Services-led Development.
The GDP growth projection for India in
three fiscal years as per World Bank is as follows:
2021-22 (FY22): 8.3%
2022-23 (FY23): 7.5%
2023-24 (FY24): 6.5%
2.
Fitch cuts India’s FY22 GDP growth forecast to 8.7%: Fitch Ratings has
cut India’s economic growth forecast to 8.7% for the current fiscal but raised
GDP growth projection for FY23 to 10%, saying the second COVID-19 wave delayed
rather than derail the economic recovery.
Fitch Ratings said India’s ‘BBB-/Negative’
sovereign rating “balances a still-strong medium-term growth outlook and
external resilience from solid foreign- reserve buffers, against high public
debt, a weak financial sector and some lagging structural factors”.
AWARDS AND HONOURS
1.
Karnataka Vikas Grameena Bank bags two national awards: Karnataka Vikas
Grameena Bank (KVGB), sponsored by Canara Bank, has bagged two national awards
(‘APY Big Believers’ and ‘Leadership capital’) for significant enrolment under
the Atal Pension Yojana (APY) from the Pension Fund Regulatory and Development
Authority (PFRDA). KVGB Chairman P. Gopi Krishna received awards from PFRDA
Chairman Supratim Bandopadhyay. KVGB is playing a pivotal role in implementing
all three social security schemes (PMJJBY, PMSBY and APY) launched by the
Central government. KVGB has a business turnover of ₹28,410 crores with a
clientele base of nearly 90 lakh in nine districts – Dharwad, Gadag, Haveri,
Belagavi, Vijayapura, Bagalkot, Uttara Kannada, Udupi and Dakshina Kannada – of
Karnataka.
Note: Karnataka Vikas Grameena Bank founded: September 12, 2005; Karnataka Vikas Grameena Bank Headquarters: Dharwad, Karnataka; Karnataka Vikas Grameena Bank Chairman: Puttaganti Gopi Krishna.
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