NATIONAL UPDATES:
1.
GoI launches online startup platform ‘Startup India Showcase’: The Department for
Promotion of Industry and Internal Trade (DPIIT) has launched an online
discovery platform for startups called “Startup India Showcase”. The main aim
of this website is to make a repository of India’s most promising startups that
have proved their capabilities, from across sectors such as fintech, enterprise
tech, social impact, health tech, and edutech, among others.
About “Startup India Showcase”: The
startups mentioned on the website will be handpicked by experts and will go
through multiple screening and evaluation rounds. The listed firms will also be
considered by the government and corporate buyers as potential suppliers of
goods or services. Each startup has its own profile page, with detailed
information about its product and innovation, as well as video and PDF links.
The platform will also act as an online networking portal, by mentioning
LinkedIn and Twitter pages of the founders.
Note: Minister of Commerce and Industry:
Piyush Goyal.
2.
Smriti Irani launches first ever Brand & Logo for Indian Cotton: Union Minister of
Textiles, Smriti Irani has launched the first-ever Brand and Logo for Indian
Cotton on Second World Cotton Day through video conferencing. Now India’s
premium cotton would be known as ‘Kasturi Cotton’ in the world cotton trade.
The Kasturi Cotton brand will represent Whiteness, Brightness, Softness,
Purity, Luster, Uniqueness and Indianness.
Important Facts of Indian Cotton: India is
the second-largest cotton producer and the largest consumer of cotton in the
world. It produces about six million tonnes of cotton every year which is about
23 per cent of the world cotton. India produces about 51 per cent of the total
organic cotton production of the world, which demonstrates India’s effort
towards sustainability. Note: Chairman-Cum-Managing Director of Cotton
Corporation of India: Pradeep Kumar Agarwal; Cotton Corporation of India
Headquarters: Mumbai, Maharashtra; Cotton Corporation of India Founded: 31 July
1970.
3.
Gujarat govt to launch ‘Digital Seva Setu’ programme: The state
government of Gujarat has announced a ‘Digital Seva Setu’ programme to ensure
optimum utilisation of technology for public welfare in rural areas. The
program has been initiated under the Centre’s BharatNet Project.
‘Digital Seva Setu’ program: Under the
‘Digital Seva Setu’ program, public welfare services will be made available in
all the 14,000-gram panchayats in the state by connecting village panchayats
through an optical fibre network. Each village panchayat will get e-gram office
so that villagers will not have to go all the way to taluka or district-level
offices. All the gram panchayats will be connected to the state data centre at
Gandhinagar. Initially, 20 services will be offered to villagers under the
programme like ration cards, affidavits and certificates for widows, residence,
caste, senior citizen, language-based minority, a religious minority,
nomad-denotified, and income certificates at their doorstep.
Note: Gujarat Chief Minister: Vijay Rupani;
Gujarat Governor: Acharya Devvrat.
4.
C-DAC to commission India’s fastest Supercomputer ‘PARAM Siddhi – AI’: The Centre for
Development of Advanced Computing (C-DAC) will be commissioning India’s largest
HPC-AI supercomputer ‘PARAM Siddhi – AI’. This initiative will place India
among the top countries in global AI supercomputing research and innovation.
The initiative was headed by Abhishek Das, Scientist and Program Director
(HPC-AI Infrastructure Development) at C-DAC, who conceived the idea and
designed the architecture for the largest HPC-AI infrastructure in India.
About ‘PARAM Siddhi – AI’: This
high-performance computing-Artificial Intelligence (HPC-AI) supercomputer is a
machine with 210 AI Petaflops (6.5 Petaflops Peak DP). It is built on the
NVIDIA DGX SuperPOD reference architecture comprising of 42 NVIDIA DGX A100
systems, connected with NVIDIA Mellanox HDR InfiniBand networking along with
C-DAC’s indigenously developed HPC-AI engine, Software Frameworks, Cloud
Platform.
Note: C-DAC Director General: Hemant
Darbari; C-DAC Established: 1988; C-DAC Headquarters: Pune, Maharashtra.
5.
Piyush Goyal Declares the Results of the First National Startup Awards 2020: The Union Minister
of Railways and Commerce & Industry Shri Piyush Goyal announced the Results
of the first ever National Startup Awards 2020 on 6th October 2020. The award
has been introduced by the Department for Promotion of Industry and Internal
Trade (DPIIT) to recognize and reward outstanding Startups and ecosystem
enablers that are building innovative products or solutions and scalable
enterprises, with high potential of employment generation or wealth creation,
demonstrating measurable social impact. The first edition of the Awards had
applications from 12 sectors, which were further sub-classified into a total of
35 categories. These 12 sectors are Agriculture, Education, Enterprise
Technology, Energy, Finance, Food, Health, Industry 4.0, Space, Security,
Tourism and Urban Services. A total of 1641 applications were received from
startups from 23 States and 4 Union Territories.
6.
Indian Air Force Day: 8th October: Indian Air Force Day is celebrated every
year by the Indian Air Force on 8th of October. This year Indian Air Force
celebrated its 88th anniversary. Indian Air Force was officially established on
8 October 1932 by the British Empire as the Royal Indian Air Force. The name
was changed to Indian Air Force in 1950.
Note: Chiefs of Air Staff: Rakesh Kumar
Singh Bhadauria.
INTERNATIONAL UPDATES:
1.
Russia successfully test-fires Tsirkon hypersonic missile: Russia
successfully test-fired a Tsirkon hypersonic cruise missile in the Arctic. The
Missile was fired from the Admiral Gorshkov frigate in the White Sea, Russian
Arctic. The missile covered a distance of 450 km with the maximum altitude of
its trajectory at 28 km. The flight lasted 4.5 minutes and the missile reached
a hypersonic speed of over Mach 8. The Missile is a scramjet-powered
manoeuvring anti-ship hypersonic cruise missile.
Note: Russia President: Vladimir Putin;
Russia Capital: Moscow; Russia Currency: Russian Ruble.
2.
Kuwait Prime Minister Sabah Al Khalid Al Sabah Resigns: The Kuwaiti
government, headed by Prime Minister(PM) Sabah Al Khalid Al Sabah submitted its
resignation to Emir Nawaf Al Ahmed Al Jaber Al Sabah in anticipation of the
upcoming general elections that are due to be held in November 2020. He took charge as the PM in 2019.
About Sabah Al Khalid Al Sabah: He started
his career in 1978, joining the ministry of foreign affairs, where he worked at
various capacities, including being a member of Kuwait’s permanent mission to
the United Nations (1983-1989).
Note: The emir named Sheikh Meshaal
Al-Ahmed Al-Jaber Al-Sabah, currently the deputy head of the National Guard, as
the crown prince of Kuwait.
Kuwait Capital: Kuwait City; Kuwait
Currency: Kuwaiti dinar.
OTHER UPDATES:
BANKING AND FINANCE
1. FM
launches Indian Bank’s business mentoring programme ‘MSME Prerana’: Finance Minister,
Nirmala Sitharaman has launched ”MSME Prerana”, an online business mentoring
programme for MSMEs by state-run Indian Bank. The programme, to be made
available in local languages, is aimed at empowering entrepreneurs through
skill development and capacity building workshops.
Important points of the Initiative: Indian
Bank has taken an out-of-the-box initiative in launching MSME Prerana which
will handhold the entrepreneurs through a mentoring program. The initiative is
in collaboration with Poornatha & Co, a firm that designs entrepreneurial
development programs in vernacular languages using online web-based interactive
sessions and case studies. MSME Prerana will bridge the gap in business skills
as well as communication & Human Resource (HR) by providing inputs in
simple terms and in the local vernacular.
Note: On April 1, 2020, Allahabad Bank
amalgamated with Indian Bank; Indian Bank MD and CEO: Padmaja Chunduru; The
tagline of Indian Bank: Your Own Bank.
2.
SEBI introduces ‘very high risk category’ in risk-o-meter tool for mutual fund
schemes:
Market regulator Securities and Exchange Board of India (SEBI) has introduced a
new “very high risk” category on its Mutual Funds (MF) riskometer tool, to warn
investors, investing in mutual fund schemes. Currently the mutual fund (MF)
risk-o-meter has five categories – low, moderately low, moderate, moderately high
and high. It indicates the scheme’s risk level. The revamped 6 categories
Risk-o-meter will come into effect from 01 January 2021. It will be evaluated
on a monthly basis and the mutual fund houses will have to disclose the
risk-o-meter along with portfolio disclosure for all their schemes on their
respective website and on the industry body Amfi website within 10 days from
the close of each month.
3.
Axis Bank tie-up with Vistara to launch co-branded forex card: Axis Bank in
partnership with India’s full-service carrier, Vistara launched a Co-Branded
Forex Card, ‘Axis Bank Club Vistara Forex Card’ to cater to the needs of
international travellers. This is the 1st-ever collaboration by a bank and an
Indian airline for a co-branded forex card.
Benefits of ‘Axis Bank Club Vistara Forex
Card’: The multi-currency forex card enables customers to travel to
international destinations in a cashless and hassle-free manner. The card has
the option to load up to 16 currencies on a single card and has lockedin. exchange
rates, also known as Fixed Exchange Rates. Cardholders on spending every USD 5
(or equivalent value), can accrue 3 CV points. Customers on signing up are
awarded 500 CV Points as a Welcome Bonus.
Note: Vistara Headquarters: Gurgaon,
Haryana; Vistara CEO: Leslie Thng.
Axis Bank Headquarters: Mumbai,
Maharashtra; Axis Bank MD and CEO: Amitabh Chaudhry.
4.
GoI appoints M Rajeshwar Rao as the RBI Deputy Governor: The Centre has
appointed M Rajeshwar Rao as the new deputy governor of the Reserve Bank of India
on 7th October 2020. Prior to this, M Rajeshwar Rao was an executive director
at RBI. He succeeds NS Vishwanathan as the central bank’s fourth deputy
governor. NS Vishwanathan resigned from the post in March 2020 before the
completion of his term in June, citing health reasons.
The Central Bank has four Deputy Governors.
Other three Deputy Governors of RBI: M. D. Patra; B. P. Kanungo and M. K. Jain
Note: RBI 25th Governor: Shaktikant Das;
Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.
AWARDS AND HONOURS
1.
Nobel Prize in Literature 2020 announced: The Nobel Prize in Literature for
2020 is awarded to the American poet Louise Glück “for her unmistakable poetic
voice that with austere beauty makes individual existence universal”. The Nobel
Prize in Literature is awarded by The Swedish Academy, Stockholm, Sweden.
About Louise Gluck: The American poet
Louise Glück was born in 1943 in New York and lives in Cambridge,
Massachusetts. Apart from her writing, she is a professor of English at Yale
University, New Haven, Connecticut. She made her debut in 1968 with Firstborn
and was soon acclaimed as one of the most prominent poets in American
contemporary literature. She has received several prestigious awards, among
them the Pulitzer Prize (1993) and the National Book Award (2014).
2.
Noted Odia Poet Nityananda Nayak to receive Sarala Puraskar: Noted Odia poet,
Nityanand Nayak will be conferred the prestigious Sarala Puraskar for his
poetry work ‘Setebelaku Nathiba’, published in 2017. The poet will be felicitated
with a cash award of `5 lakh and a citation. Two other eminent personalities
from the State – Ranjit Kumar Nag and Shyamsundar Pattanaik – will be
felicitated for their contribution to fields of music and art respectively.
While Nag will be awarded the Ila Panda Sangeet Samman, Pattanaik would be
felicitated with Ila Panda Chitrakala Samman. The awards comprise a cash award
of `1,50,000 and a citation.
About Sarala Puraskar: Sarala Puraskar is
recognised as the foremost literary award of Odisha. The annual Sarala
Puraskar, instituted by eminent Odia industrialist Bansidhar Panda and Ila
Panda in 1979, has been continuously awarded by Indian Metals Public Charitable
Trust (IMPaCT). The list of awardees was
announced by Sarala Puraskar Committee.
DEFENSE
1.
Indian Coast Guard launches L&T built Offshore Patrol Vessel ‘Vigraha’: The Indian Coast
Guard launched the Offshore Patrol vessel ‘Vigraha’ at a private shipyard in
Kattupalli, north of Chennai on 6th October 2020. ICGS ‘Vigraha’ is the seventh
and last in the series of seven vessels that was designed and built exclusively
for the Coast Guard by Larsen and Toubro (L&T) Shipbuilding as a part of
the ‘Make in India’ initiative. Vigraha is likely to be inducted into the
Indian Coast Guard in March 2021, after completion of extensive trials and
testing of the on-board equipment and machinery and once inducted, the vessel
would serve the East Region, from Visakhapatnam. The other ships of this vessel
are ICGS ”Vikram”, ICGS ”Vijaya”, ICGS ”Veera”, ICGS ”Varaha”, ICGS ”Varad”,
ICGS ”Vajra”
OBITUARIES
1.
Former CBI Director Ashwani Kumar passes away: Former CBI Director
Ashwani Kumar (70 years) passed away at his residence in Shimla. He served as
the Governor of Manipur and Nagaland (2013-2014). The reason for his death is
suicide as per the local police and his body is being send for post-mortem. He
joined Indian Police Force in 1973. He was also inducted in the newly created
SPG. He was appointed the DGP of Himachal in 2006 and 2008, he became the first
police officer from the state to become the director of CBI.
2. TNPL Spinner Prasanth Rajesh Passes Away: Tamil Nadu Premier League (TNPL) spinner Prasanth Rajesh (MP Rajesh) has passed away due to a heart attack. He was 35. MP Rajesh was a leg-spinner. He made his debut in TNPL in 2018. Delhi Capitals spinner Ravichandran Ashwin, expressed disbelief on the death of his close friend with whom he had shared the stage during his time at TNPL.