Daily GK Update- 23rd Oct, 2023

NATIONAL UPDATES:

 

1. UP CM flags off 51 buses to be operated exclusively by women: Uttar Pradesh Chief Minister Yogi Adityanath flags off new buses, commanded by women drivers, on the occasion of ‘Maha Ashtami’ during the Navratri festival, in Ayodhya. These buses will be operated exclusively by women as drivers and conductors. The initiative seeks to connect and empower women drivers and conductors

 

2. EAM S. Jaishankar meets IAEA Director General Rafael Grossi: External Affairs Minister Dr. S. Jaishankar and International Atomic Energy Agency's (IAEA) Director General Rafael Grossi discussed the developmental significance of nuclear energy.  They exchanged views on non-proliferation and international cooperation. The IAEA is the world's centre for cooperation in the nuclear field, promoting the safe, secure, and peaceful use of nuclear technology.

 

3. Odisha to promote maize cultivation: Odisha Government has decided to launch a programme to enhance the acreage under maize cultivation, introducing superior varieties of grain. The cabinet led by Chief Minister Naveen Patnaik made a provision of Rs 481.94 crore for the crop diversification scheme for five years at a meeting. The scheme – Mukhyamantri Maka Mission (MMM) – will be implemented in a “more scientific and progressive way”. The government will also work on increasing the productivity of pulses, oilseeds, and fibre crops (cotton and jute) besides maize. This is expected to give a boost to employment generation in rural areas and augment farmers’ income in the state. The state government also decided to enhance the corpus fund for procurement and prepositioning of fertilizers from Rs 90 crore to Rs 150 crore.

 

4. Sex Ratio at Birth improved from 904 in 2017-19 to 907 in 2018-20: Union Minister for Health and Family Welfare, Dr Mansukh Mandaviya convened the 29th meeting of the Central Supervisory Board (CSB), marking a crucial occasion to reiterate the nation’s commitment to addressing gender discrimination against girls and women. The primary concern discussed at the meeting was the declining Child Sex Ratio (CSR) and Sex Ratio at Birth (SRB) in the country, indicative of the ongoing battle against sex-based discrimination leading to sex selection/ determination followed by pre-birth elimination. Citing the latest Sample Registration Survey (SRS) report of 2020, the Minister announced significant progress in the SRB. The data revealed a commendable three-point improvement from 904 in 2017-19 to 907 in 2018-20.

 

5. PM Modi launches Bengaluru Metro’s Purple Line operations: Prime Minister Narendra Modi has virtually inaugurated the Baiyappanahalli-KR Pura and Kengeri-Challaghatta sections of Bengaluru metro’s purple line. The full operation of the metro’s purple line has boosted the connectivity to the IT hub. In Bengaluru, nearly 8 lakh people travel by metro. Bangalore has been growing at a faster pace and the Karnataka government has approved the construction of 317 km of metro lines under the comprehensive mobility plan by 2031, of which 257 km are under the operation, construction and planning stage. The feasibility survey of the remaining 60 km of metro lines will be taken up shortly. The Bangalore Metro Rail Corporation Limited’s network has now been expanded from 69.6 km to 73.8 km, connecting 66 stations.

 

6. Ipsita Dasgupta appoints as SVP & MD for HP India: Personal computers maker HP (Hewlett-Packard) has appointed former Apple executive Ipsita Dasgupta as Managing Director and Senior Vice President for India, Bangladesh, and Sri Lankan markets, effective 30 October. She will report to David McQuarrie, HP chief commercial officer. Gurpreet Singh Brar, who was officiating as interim India MD since November last year, will move to a new role of the vice-president, innovation and growth for HP’s India market. Dasgupta was senior director of marketing for Apple Services based at Apple headquarters leading global synergy marketing, external partnership marketing, consumer insights, and market and competitive intelligence for Apple’s subscription services.

 

7. ISRO to test the country’s first human spaceflight mission Gaganyaan: Indian Space Research Organization (ISRO) has successfully tested the crew escape system of the country’s first human spaceflight mission Gaganyaan. The liquid-propelled single-stage Test Vehicle (TV-D1) lifted off from the Satish Dhawan Space Centre, Sriharikota carrying a homegrown system that would be crucial for the safety of the Indian astronauts – the Crew Escape System. The test validated the motors that will be used during this mission. This included low-altitude motors, high-altitude motors, and jettisoning motors, that will be put to use to safely eject astronauts away from the vehicle, in case of an emergency. The launch was initially halted due to an anomaly, which was corrected, and the spacecraft lifted off at 10 AM. After nine minutes, the mission crew module successfully splashed in the Bay of Bengal, ten kilometers away from Sriharikota. The Indian Navy was stationed at the destined place for the recovery of the module. The module was retrieved by Naval divers and was taken to a Naval ship.

 

INTERNATIONAL UPDATES:

 

1. Piyush Goyal to attend 7th ‘Future Investment Initiative’ in Riyadh: Union Minister Sh. Piyush Goyal is attending the 7th Edition of Future Investment Initiative (FII) in Riyadh, Saudi Arabia from 24th to 25th October 2023. Mr. Goyal will co-chair a conclave session on the theme “From Risk to Opportunity: Strategies for Emerging Economies in the New Industrial Policy Era” along with the KSA Investment Minister.  He will interact with the Indian community that forms an influential part of the Saudi economy.

 

2. Japan becomes first nation to launch an Electromagnetic Railgun: The Japanese Ministry of Defense has successfully executed the world’s first electromagnetic railgun fire test from a ship.

It is conducted in coordination with the Japan Maritime Self-Defense Force (JMSDF) and represents a significant step forward in Japan’s pursuit of sophisticated defense capabilities. ATLA has accomplished ship-board firing test of railgun first time in the world with the cooperation of the JMSDF. Objective – To protect vessels against air threats and surface threats by high-speed bullets, ATLA strongly promotes early deployment of railgun technology.

 

3. 22 October – International Stuttering Awareness Day: International Stuttering Awareness Day is observed every year on October 22nd. Objective – To raise awareness about this speech disorder that affects millions of people worldwide Theme – One Size Does NOT Fit All In 1998, the ISA officially launched International Stuttering Awareness Day, setting the date as October 22 to coincide with the birthday of the famous English author and playwright, Sir George Bernard Shaw, who was also known to have stuttered. Shaw’s experiences with stuttering were an inspiration for many people who stutter and those advocating for greater awareness and acceptance of the condition.

 

OTHER UPDATES:

 

SPORTS

 

1. Shubman Gill becomes fastest batter to score 2000 runs in ODIs: India's opener Shubman Gill(24-year)  set a new record by becoming the fastest batter to reach 2,000 runs in ODI cricket.  Gill accomplished this feat in just 38 innings, which is two innings fewer than South Africa's Hashim Amla, who took 40 innings to achieve the same milestone.  Gill has six centuries and 10 half-centuries in 37 ODI matches for India so far.

 

2. Unnati Hooda captures women's singles title at Abu Dhabi Masters 2023: In a battle of future Badminton stars from India,Unnati Hooda (16-year-old) beat Samiya Imad Farooqui to capture the women's singles title at the Abu Dhabi Masters 2023. Unnati Hooda defeated the 20-year-old Samiya Imad Farooqui 21-16, 22-20.  This is her second BWF Super 100 World Tour title.  She became the youngest Indian to clinch a BWF title last year at 14 years of age.

 

3. Sberbank becomes first Russian bank to register with SEBI as FPI: Sberbank of Russia has become the first Russian bank to register with the Indian markets regulator as a foreign portfolio investor (FPI), according to data available on the website of the National Stock Depository (NSDL). Sberbank of Russia, a state-owned bank that already has a presence in India, registered with the Indian markets regulator for a Category FPI licence. FPIs with category I licence have to follow less lenient beneficial ownership disclosures can subscribe to overseas derivative instruments which have Indian stocks as underlying, and also enjoy certain taxation benefits. Category I FPI registration is only granted to government or government-related foreign investors or regulated entities such as banks, sovereign wealth funds, investment trusts, pension funds, and asset management companies.

 

4. Mohammed Shami becomes 1st Indian bowler to claim multiple 5-wicket hauls in ODI World Cups: Fast-bowler Mohammed Shami became the first Indian bowler to claim multiple five-wicket hauls in ODI World Cups. Shami claimed five wickets against New Zealand to bowl them out for 273 runs in the first innings at the HPCA Stadium in Dharamshala. Shami picked the wickets of Will Young, Rachin Ravindra, Daryll Mitchell, Mitchell Santner and Matt Henry in India’s ICC Men’s Cricket World Cup 2023 clash against New Zealand. Shami ended up picking five wickets while giving away 54 runs in 10 overs. The list of Indian bowlers who have previously achieved this feat includes Shami himself (2019), Ashish Nehra (2003), Venkatesh Prasad (1999), Robin Singh (1999), Yuvraj Singh (2011), and Kapil Dev (1983).

 

BANKING AND FINANCE

 

1. RBL Bank Introduces GO Savings Account: RBL Bank introduces the GO Savings Account, a revolutionary subscription-based digital banking model offering high interest rates up to 7.5% per annum. This zero-balance account is designed to cater to customers of all age groups, simplifying the account opening process and ensuring user-friendly features. Moreover, this account provides extensive cyber insurance coverage, along with accident and travel insurance of up to Rs 1 crore. 

 

AWARDS AND HONOURS

 

1. CJI Chandrachud receives Harvard Law School's 'Award for Global Leadership': Chief Justice of India DY Chandrachud received the 'Award for Global Leadership,' the most esteemed professional recognition from Harvard Law School. The Harvard Law School is also celebrating the 100th anniversary of its Graduate Law Program. The Chief Justice fondly remembered his time at Harvard as an LLM student in 1982-83 and then as an SJD candidate in 1983-1986.

 

2. REC Limited honoured with the Golden Peacock Award : REC Limited, the Maharatna Central Public Sector Enterprise under the Ministry of Power, has been recognized for its exceptional performance in risk management with the esteemed Golden Peacock Award. The Golden Peacock Award in Risk Management highlights REC’s continued commitment to implementing effective risk assessment strategies. The Golden Peacock Awards, established by the Institute of Directors (IOD), India in 1991, has emerged as an internationally acclaimed standard for corporate excellence. REC Limited was selected by the jury panel headed by former Chief Justice of India, Justice M. N. Venkatachaliah. Director (Projects), REC, Shri V. K. Singh and Executive Director (Finance), REC, Shri Daljeet Singh Khatri received the award on behalf of REC at a glittering ceremony held in London.

 

3. Jina Mahsa Amini wins EU’s Sakharov Prize 2023: The European Union parliament awarded its annual Sakharov Prize for Freedom of Thought to Iranian woman Mahsa Amini who died in police custody last year and the “Woman, Life, Freedom” movement in Iran. On 16 September we marked one year since the murder of Jina Mahsa Amini in Iran. The European Parliament proudly stands with the brave and defiant who continue to fight for equality, dignity, and freedom in Iran. Amini, 22, born in Iran’s western province of Kurdistan, died in morality police custody in September last year after being arrested for allegedly flouting the Islamic Republic’s mandatory dress code.

 

OBITUARIES

 

1. Football Legend Bobby Charlton Passes Away At 86: Bobby Charlton, an England World Cup winner and one of Manchester United's greatest players passed away at the age of 86. Charlton was a key figure in England's 1966 World Cup-winning team and played 758 games for United, scoring 249 goals. Former India captain Bishan Singh Bedi passes away: Former India captain Bishan Singh Bedi (76-years)  passed away after prolonged illness. The legendary spinner played 67 Tests for India between 1967 and 1979 and picked 266 wickets.  He also took seven wickets in 10 One-Day Internationals.

Daily GK Update- 22nd Oct, 2023

NATIONAL UPDATES:

 

1. 5th edition of Dehradun Literature Festival set to host in Dehradun: The 5th edition of the Dehradun Literature Festival (DDLF) was announced during a press conference. The festival is to witness confluence of Literature, Culture and cinema. The literary extravagance is all set to be hosted from the 27th to 29th of October at two venues in the city – Doon International School (Riverside Campus) and Hyatt Regency Dehradun Resort & Spa in Dehradun. Back in time, when literature festivals had started all over the country, Dehradun still did not have its own literary platform to bind the whole community. Being a newly born state and the educational capital of the country, a forum where exposure can be built for our student community was the need of the day. So, in 2017, DDLF was born, and in a short span, we have become a festival that is a common property not just of the Dehradun community but of all the citizens of Uttarakhand.

 

2. Defence Minister Rajnath Singh launches army's project Udbhav: Defence Minister Rajnath Singh launches the army's project Udbhav aimed at integrating ancient wisdom with modern military pedagogy.  Project Udbhav is a joint collaboration of the Indian Army and the United Service Institution of India. The project aims to promote indigenous discourse through the exploration and integration of the country’s ancient strategic acumen into the contemporary military domain.

 

3. ‘Project Nilgiri Tahr’ launched in Tamil Nadu: Tamil Nadu Chief Minister M.K. Stalin launched the wildlife conservation project, ‘Project Nilgiri Tahr’ at the Secretariat in Chennai. Nilgiri Tahr is an endangered species endemic to the Western Ghats. There are references to Nilgiri Tahr in the Sangam Tamil literature. The project has an outlay of ₹25 crore.

 

4. Union Minister Piyush Goyal launches website of “Kasturi Cotton Bharat”: Hon’ble Union Minister of Textile, Commerce & Industry, Consumer Affairs and Food & Public Distribution Shri Piyush Goyal launched website of Kasturi Cotton Bharat.  This website provide a digital platform for necessary information and updates on this initiatives and highlights the registration process for ginners to produce Kasturi Cotton Bharat Brand and its processes that make the branded Indian cotton unique.

 

INTERNATIONAL UPDATES:

 

1. 20 October – International Chef’s Day: International Chefs Day is celebrated every year on 20 October, paying tribute to the art and science of cooking. This day, introduced by the late chef Dr. Bill Gallagher in 2004, serves as a platform to honor the contributions of chefs across the globe. Theme 2023 – Growing A Healthy Future

 

2. International Stuttering Awareness Day 2023 being observed today: International Stuttering Awareness Day  is an annual observance that falls on October 22 every year. It’s a day to shed light on the challenges faced by people who stammer and to encourage a more inclusive and empathetic society. The theme for ISAD 2023 is “One Size Does NOT Fit All”.

 

3. Cyclone 'Tej' intensifies into extremely severe cyclonic storm: According to the India Meteorological Department (IMD), Cyclone 'Tej', brewing in the Arabian Sea, intensified into an extremely severe cyclonic storm on Sunday and is headed towards the Yemen-Oman coasts. The IMD also issued warnings for fishermen to not venture into areas that could be affected by Cyclone Tej and the Bay of Bengal depression in the coming days

 

4. Former Pakistan PM Nawaz Sharif returns home after four years: Former Pakistan PM Nawaz Sharif returns home after four years in self-imposed exile in the U.K. Mr Sharif flew in from Dubai to Islamabad on a chartered flight along with some family members, senior party leaders and friends. Earlier this week, the Islamabad High Court granted protective bail to Sharif until Tuesday.

 

S Jaishankar unveils Mahatma Gandhi bust in Vietnam: External Affairs Minister Dr. S Jaishankar unveiled a bust of Mahatma Gandhi in Ho Chi Minh City during an official visit to Vietnam. In Vietnam, the EAM also met the Vietnamese leadership. This visit marked not only the strengthening of bilateral relations but also a celebration of the enduring principles and values adopted by Mahatma Gandhi and Rabindranath Tagore.

 

5. India sends humanitarian aid to the people of Palestine: India sends Humanitarian aid to the people of Palestine. An IAF C-17 flight carrying nearly 6.5 tonnes of medical aid and 32 tonnes of disaster relief material for the people of Palestine departs for El-Arish airport in Egypt. The material includes essential life-saving medicines, surgical items, tents, sleeping bags, tarpaulins, sanitary utilities, water purification tablets among other necessary items

 

OTHER UPDATES:

BANKING AND FINANCE

 

1. Ashok Vaswani is next Kotak Mahindra Bank CEO: Ashok Vaswani (63-years) is set to hold the position of the new CEO and MD of Kotak Mahindra Bank for a period of three years, likely from January 1, 2024. Vaswani will succeed Uday Kotak, who has quit as the MD of the bank in September this year. Currently, Ashok Vaswani is the president of the US-Israeli AI fintech company Pagaya Technologies Ltd.

 

 

 

 

AWARDS AND HONOURS

 

1. Gujarat’s Dhordo awarded UNWTO’s Best Tourism Village 2023: Dhordo, a village located in the Kutch district of Gujarat, known for its annual Rann Utsav has been bestowed with the title ‘Best Tourism Village’ by the United Nations World Tourism Organization (UNWTO). A total of 26 villages around the globe have earned the accolades this year for “nurturing rural areas and preserving landscapes, cultural diversity, local values, and culinary traditions.” The list includes villages in Austria, Portugal, Turkiye, Hungary, Indonesia, Egypt, and China. Dhordo is the only village selected from India. Best Tourism Villages by UNWTO recognizes outstanding rural tourism destinations with accredited cultural and natural assets, a commitment to preserving community-based values, and a clear commitment to innovation and sustainability across economic, social, and environmental dimensions. Launched in 2021, the Best Tourism Villages by UNWTO initiative is part of the UNWTO Tourism for Rural Development Programme.

 

2. Gujarat’s Dhordo awarded UNWTO’s Best Tourism Village 2023: Dhordo Village in Gujarat's Kutch district has been honored with the prestigious 'Best Tourism Village' title by the United Nations World Tourism Organization (UNWTO). With this, Dhordo is now one of the 70 villages from nearly 40 countries that enjoy this prestigious title. Dhordo received this title at the Best Tourism Village - 2023 award ceremony organised by the UNWTO at the historic city of Samarkand in Uzbekistan.

Daily GK Update- 21st Oct, 2023

NATIONAL UPDATES:

 

1. ISRO to test the country’s first human spaceflight mission Gaganyaan: The Indian Space Agency has made the stage ready to test the crucial crew escape system of its rocket Gaganyaan. The demonstration of the TV-D1 mission has been rescheduled to 8.45  am presently. Objective: To test the safe landing at the Bay of Bengal and due to the presence of low pressure, the mission will be undertaken accordingly.  Gaganyaan will be launched from the first launch pad of the Sathish Dhawan Space Centre.

 

2. Mizoram celeberated Anthurium Festival begins with fervor & enthusiasm: In Mizoram, a two-day-long Anthurium Festival began with all festivities and enthusiasm at Reiek in Mamit District

The festival is being organized by the Department of Tourism of Mizoram It is an occasion of joy and a platform to showcase the rich cultural heritage and traditions of the Mizo people. The Anthurium flower is one of the most expensive flowers cultivated in India & widely used in ceremonies ranging from birthdays, weddings as well as funeral services

 

3. IRCTC Partners With Zomato For Delivery Of Pre-Booked Meals: Indian Railway Catering and Tourism Corporation (IRCTC) has partnered with food delivery app Zomato for the delivery of pre-ordered meals.  In the first phase, Zomato will supply and deliver preordered meals through IRCTC’s online catering portal at five railway stations – New Delhi, Lucknow, Kanpur, Prayagraj, and Varanasi. Zomato-IRCTC tie-up will give more options to train passengers to choose from a wide variety of food options through its e-catering segment.

 

4. HP Appoints Ipsita Dasgupta as Senior Vice President & MD for India: HP  appointed Ipsita Dasgupta as the Senior Vice President & Managing Director of its India market. She will be responsible for leading all aspects of HP’s strategy and P&L (profit and loss) in India, Bangladesh, and Sri Lanka.  She will report to David McQuarrie, HP Chief Commercial Officer. She joins HP from Apple where she most recently served as Senior Director of Marketing for Apple Services based at Apple headquarters.

 

5. Police Commemoration Day is observed on 21 October 2023: October 21st is celebrated every year as the Police Commemoration Day.  The day marks the sacrifice of 10 CRPF men who lost their lives to a Chinese attack in 1959.  The objective was to keep a lookout on the India-China border that lies to the east of Ladakh. On October 20th, 1959, as the CRPF patrolled the India-Tibet border, three separate units of the 3rd Battalion were sent to independent patrols near the Hot Springs area in Ladakh

 

6. Defence Ministry signs contract with Cochin Shipyard Limited: The Ministry of Defence has signed a contract with the state-owned Cochin Shipyard Limited (CSL) for mid-life upgrade and re-powering of the advanced guided missile frigate INS Beas at a cost of ₹313.42 crore. INS Beas is the first Brahmaputra Class Frigate to be re-powered from steam to diesel propulsion. After completion of the mid-life upgrade and re-powering in 2026, INS Beas will join the active fleet of the Indian Navy with a modernized weapon suite and upgraded combat capability. The transformative maiden re-powering project marks a significant stride in the maintenance philosophy of the Indian Navy and the repair capabilities of CSL. INS Beas, the third of the Brahmaputra Class guided missile frigate, was commissioned into the Indian Navy way back in July 2005, after it was built at the Garden Reach Shipbuilders and Engineers Ltd.

 

INTERNATIONAL UPDATES:

 

1. World's First Gender Balance Framework held in Dubai: The world's inaugural framework for gender balance in the Fourth Industrial Revolution (4IR) took center stage at the 'Gender Balance and 4IR' workshop in Dubai. The framework, designed to empower women and drive gender equality within the ever-evolving landscape of the Fourth Industrial Revolution It is a collaborative partnership between the UAE Gender Balance Council and the Centre for the Fourth Industrial Revolution UAE, an affiliate of the World Economic Forum

 

2. Japan Becomes First Nation To Launch An Electromagnetic Railgun: The Japanese Ministry of Defense has successfully executed the world's first electromagnetic railgun fire test from a ship.

It is conducted in coordination with the Japan Maritime Self-Defense Force (JMSDF), and represents a significant step forward in Japan's pursuit of sophisticated defense capabilities. “ATLA has accomplished ship-board firing test of railgun first time in the world with the cooperation of the JMSDF,” Acquisition.

 

3. India and France hold Military Sub Committee meeting in New Delhi.: The 21st edition of the India-France Military Sub Committee (MSC) meeting was held at Air Force Station, New Delhi. The both sides discussed ties focused on new initiatives under the ambit of existing bilateral defence cooperation mechanisms and strengthening ongoing defence engagements. The meeting was co-chaired from the Indian side by Air Vice Marshal Ashish Vohra, Assistant Chief of Integrated Staff, (Military Cooperation) at HQ IDS and Major General Eric Peltier, General Officer, International Military Relations of the Joint Staff from the French side. The both sides discussed ties focused on new initiatives under the ambit of existing bilateral defence cooperation mechanisms and strengthening ongoing defence engagements.

 

4. PM Modi inaugurated ‘Namo Bharat’ RRTS train: Prime Minister Narendra Modi has flagged off ‘Namo Bharat’, India’s first semi-high-speed regional rail service in Uttar Pradesh. The ‘Namo Bharat’ train connecting Sahibabad and Duhai Depot stations in Uttar Pradesh. This marks the launch of the Regional Rapid Train Service (RRTS) in India. Namo Bharat’ is a transformational” regional development initiative, which is designed to provide high-speed trains for intercity commuting. In the first phase of the RRTS, Namo Bharat trains will link several parts of Delhi, Uttar Pradesh, Haryana, and Rajasthan. The full 82-km stretch between Delhi and Meerut will be complete within the next 1-1.5 years.

 

5. President Murmu appoints new governors of Odisha, Tripura: President Droupadi Murmu has appointed Raghubar Das as Governor of Odisha, and Indra Sena Reddy Nallu as Governor of Tripura. Raghubar Das has been appointed as the 26th governor of Odisha. He will succeed Ganeshi Lal as the new governor of Odisha. Das is a former Chief Minister of Jharkhand, belonging to the Bharatiya Janata Party (BJP). He has also served as the president of the Jharkhand BJP twice. Indra Sena Reddy Nallu is a national secretary of the BJP and has thrice served as an MLA in Andhra Pradesh. He is a BJP leader from Bihar and has previously served as a Governor of Haryana. Currently, Satyadev Narayan Arya is serving as the 19th governor of Tripura.

 

20 October – International Chef’s Day: International Chefs Day is celebrated every year on 20 October, paying tribute to the art and science of cooking. This day, introduced by the late chef Dr. Bill Gallagher in 2004, serves as a platform to honor the contributions of chefs across the globe. Theme 2023 – Growing A Healthy Future

 

OTHER UPDATES:

 

SPORTS

 

1. Hyderabad To Host Second Edition Of E-Prix In 2024: Hyderabad is set to host the Formula E race for a second edition in February 2024, and the street track around the banks of the Hussain Sagar Lake will undergo modifications for the same. Formula E and the Telangana government had inked a four-year deal to conduct races in the city streets with a vision to promote electric racing. The city which hosted India’s first Formula E did not feature initially in the provisional calendar for the 2023–24 season.

 

BANKING AND FINANCE

 

1. RBI Approves Kotak Mahindra Bank To Acquire MFI Sonata Finance: Private-sector lender Kotak Mahindra Bank received Reserve Bank of India’s (RBI’s) approval to acquire 100 percent stake in micro-lender Sonata Finance. Sonata will become a business correspondent subsidiary of the bank. “Upon completion of the transaction, Sonata will be a wholly owned subsidiary of the bank. The bank had entered into share-purchase agreements with the shareholders of Sonata Finance, which is a NBFC-MFI, to acquire a 100 per cent stake.

 

AWARDS AND HONOURS

 

1. ICAI received UN Award for its contribution to sustainability reporting: The Institute of Chartered Accountants of India (ICAI) has bagged a prestigious UN Award 2023 for its contribution to sustainability reporting. The United Nations Conference on Trade and Development (UNCTAD) honored ICAI during the 8th World Investment Forum for its contributions to sustainability reporting. The Institute of Chartered Accountants of India’s (ICAI) sustainability initiatives received the highest score amongst 70 initiatives received from around the world. UNCTAD was announced as the winner of the sixth edition of ISAR Honours during the 8th World Investment Forum in Abu Dhabi.

 

OBITUARIES

 

1. Former CEC Dr. Manohar Singh Gill passed away: Former Chief Election Commissioner (CEC) of India and Congress leader Manohar Singh Gill died at the age of 86. As a valued colleague in the UPA Govt and earlier as a civil servant, his contributions to the development of the nation in varied fields like sports, electoral processes, and agriculture was long-lasting M.S. Gill was the 11th Chief Election Commissioner of India Gill, a Punjab cadre Indian Administrative Service (IAS) officer, served as the CEC between December 1996 and June 2001. Later, he entered the Rajya Sabha as a Congress member and was made the union sports minister in 2008. He is survived by his wife and three daughters. Gill was awarded the Padma Vibhushan in the year 2000 for his exceptional and distinguished services as a civil servant.

Daily GK Update- 20th Oct, 2023

NATIONAL UPDATES:

 

1. Amul’s ‘Be More Milk’ campaign goes global at Time Square: Amul said its ‘Be More Milk’ campaign had made a big splash at New York’s Time Square, the world-famous intersection that sports massive digital screens. The campaign displayed the ‘Be More Milk’ message in a colourful and animated billboard that grabbed the attention of passersby and lit up the iconic intersection in a unique way. Famously known as the melting pot of cultures from all over the world, this setting played a special role in the launch this campaign, internationally. Amul’s latest campaign Be More Milk creatively depicts milk in a new, and young avatar, while encouraging the youth around the world to be honest, pure, refreshing, natural, authentic, comforting and urges them to blend in with different cultures in a positive way.

 

2. UP government to organize three-day ‘Sri Anna Mahotsav’: The Uttar Pradesh government will organize Sri Anna Mahotsav in the state capital from October 27 to 29 to promote the use of millet. Farmers doing good work for the production of millets would be felicitated on the occasion. Fifty progressive farmers from each division will take part in the event which is aimed at creating awareness among people and farmers with regard to the cultivation and consumption of millets in the state. Around 40 stalls of food made from millets will also be put up during the three-day Sri Anna Mahotsav.

 

3. Dharmendra Pradhan launches web portal ‘Apna Chandrayaan’: Union Education Minister Dharmendra Pradhan has launched a web portal and special modules on ISRO’s ambitious Chandrayaan-3 mission for school students. The web portal “Apna Chandrayaan” has activity-based support material such as quizzes and puzzles for students. The minister also released 10 special modules on Chandrayaan-3, offering a comprehensive overview of its various facets, including scientific, technological, and social aspects, as well as the emotional journey and team spirit of the scientists involved. Pradhan described the success of Chandrayaan-3 as one of the most significant achievements of the 21st century that has inspired the children of the country the most. More modules will be prepared on 14 different topics including women empowerment, COVID-19 vaccination, India’s G20 Presidency, etc.

 

4. Sanjay Kulshreshtha appoints as new CMD of HUDCO: Sanjay Kulshreshtha has been appointed the new Chairman and Managing Director of the Housing and Urban Development Corporation Ltd (HUDCO). Kulshreshtha has been serving as the Executive Director at REC Limited (formerly Rural Electrification Corporation Limited), and will soon be joining his new post as the CMD of HUDCO. This posting has given HUDCO a full-time CMD for the first time since 2019. HUDCO is a government-owned company in India established in 1970 under the Ministry of Housing and Urban Affairs. It specializes in providing financial assistance for housing and urban infrastructure projects across the country.

 

INTERNATIONAL UPDATES:

 

1. IBM inks 3 pacts with IT Ministry on semiconductor, Al, Q-computing: US multinational technology giant IBM has inked three pacts with IT Ministry in areas of semiconductors, Artificial Intelligence and quantum computing. The three MoUs signed were in the areas of semiconductors, Al and quantum computing. As a part of the partnership, IBM would be a knowledge partner of the India Semiconductor Mission and establish a semiconductor research centre in the country. The semiconductor research centre will also work on skilling Indian students and professionals by providing them access to research facilities Apart from these, the semiconductor research centre will also promote innovation of semiconductor technologies such as logic, advanced packaging and heterogeneous integration.

 

2. Global Pension Index 2023: India ranked 45; Topped by Netherland: The 15th annual Mercer CFA Institute Global Pension Index (MCGPI) has been published, and it shows that the Netherlands’ retirement income system has once again secured the first position. Iceland and Denmark have claimed the second and third positions in the ranking, respectively. The Netherlands had the highest overall index value (85.0), closely followed by Iceland (83.5) and Denmark (81.3). Argentina had the lowest index value (42.3). India had an overall index value of 45.9 from 44.5 in 2022, ranking 45 out of the 47 retirement income systems analyzed primarily due to improvements in adequacy and sustainability sub-indices, according to the 15th annual Mercer CFA Institute Global Pension Index (MCGPI). This year, the Global Pension Index compares 47 retirement income systems across the globe and covers 64 percent of the world’s population.

 

3. Pakistan successfully tests medium-range ‘Ababeel Weapon System’: Pakistan has successfully conducted the flight test of the ‘Ababeel Weapon System’ to further strengthen its deterrence. The latest test of the ballistic missile system was aimed at “re-validating various design, technical parameters, and performance evaluation of different sub-systems. The missile system is aimed at strengthening deterrence and enhancing strategic stability in the region through the operationalization of Full Spectrum Deterrence in the overall construct of Credible Minimum Deterrence. The Ababeel missile has a length of 21.5 meters and a diameter of 1.7 meters and is designed to carry both conventional and nuclear warheads. It carries multiple independently targetable reentry vehicles (MIRVs), marking South Asia’s first MIRV payload.

 

4. 20 October – World Statistics Day: World Statistics Day is celebrated every year on 20 October. The day is dedicated to create awareness about the significant role of advanced, reliable, and good-quality statistics in the development of global nations. The United Nations General Assembly established World Statistics Day on 20 October 2015. The idea of celebrating World Statistics Day was proposed at the United Nations Statistical Commission’s 41st Session in February 2010. The commission recommended marking October 20, 2010, as the first World Statistics Day. National Statistics Day is celebrated on June 29 every year to recognize the contributions of PC Mahanalobis.

 

5. 20 October – World Osteoporosis Day: World Osteoporosis Day is observed every year on October 20. This day is marked to promote and highlight the importance of early diagnosis of osteoporosis, its treatment and preventive tips. Theme 2023 – Build Better Bones World Osteoporosis Day was initially observed in 1996 by the National Osteoporosis Society of the United Kingdom which was also supported by the European Commission.

 

OTHER UPDATES:

 

SPORTS

 

1. Punjab hits highest-ever T20 total in Indian cricket history : Punjab created history by smashing the highest-ever T20 total by any Indian cricket team, 275/6 against Andhra Pradesh in the Syed Mushtaq Ali Trophy 2023. Abhishek went on to score 112 runs in just 51 balls as Punjab posted a mammoth total of 275 for 6 in their 20 overs, beating the previous record of 263 set by IPL side Royal Challengers Bangalore (RCB) against Pune Warriors India in 2013. This is the highest total in Indian T20 cricket (SMAT or IPL) and fourth highest overall in T20 cricket history. Punjab went past Mumbai’s record, who smashed 258 runs against Sikkim in the 2019 Syed Mushtaq Ali Trophy edition. The explosive Punjab batting also broke the previous record (RCB, 21 sixes) of most sixes by a team in a T20 match. With the help of 9 sixes each by Abhishek and Anmolpreet, 2 of Naman Dhir, and 1 of Prabhsimran, Punjab hit as many as 22 sixes in the match. Andhra Pradesh lost the match by 15 runs as they managed to score 170/7 in their 20 overs in reply to Punjab’s historic total.

 

2. Sornnarin Tippoch retires from international cricket: Former Thailand captain Sornnarin Tippoch has announced her retirement from international cricket in Bangkok, bringing curtains on a near 16-year playing career. Tippoch led Thailand to their first-ever T20 World Cup appearance at the 2020 mega-event in Australia. Tippoch first represented Thailand in 2008, when the national women’s team did not have international status. The 37-year off-spinning allrounder has now played 75 T20Is (of which she has captained in 39) and 9 ODIs. She was at the helm when Thailand Women surpassed Australia’s record for most consecutive wins in Women’s T20Is (17) – a streak that ran from July 2018 to August 2019.

 

BANKING AND FINANCE

 

1. Federal Bank launched the ‘Mookkannoor Mission’ initiative at its founder’s village: The Federal Bank has inaugurated the ‘Mookkannoor Mission’, an initiative under the Swachh Bharat Abhiyan, on the 106th birth anniversary of its Founder KP Hormis Mookannoor, a village in Ernakulam district, is the birthplace of the Founder. The Bank adopteda comprehensive plan of digitizing the entire village as well as a cleanliness drive that includes waste management, tree plantation, community development, renewable energy projects, etc that will be implemented in stages. The programme named “Mookkannoor Mission” was launched by Shyam Srinivasan, MD & CEO at Sacred Heart English Medium School, Mookkannoor. This is a dream project not only for the residents of Mookkannoor but also for Federal Bank. In India’s story of transformation, if ever a chapter on cleanliness is written – Mookkannoor should become the shining example of how transformation can happen.

 

2. RBI imposed penalty on ICICI Bank, and Kotak Mahindra Bank for violation of norms: The Reserve Bank of India (RBI) has imposed a penalty or ₹12.19 crore on ICICI Bank and ₹3.95 crore on Kotak Mahindra Bank for non-compliance of certain regulatory norms. The penalty on private sector lender ICICI Bank has been imposed for contravention of norms related to ‘Loans and Advances-Statutory and Other Restrictions’ and ‘Frauds classification and reporting by commercial banks and select Fls’. The penalty on Kotak Mahindra Bank Limited has been imposed for contravention of directions related to “Managing Risks and Code of Conduct in Outsourcing of Financial Services by banks”, “Recovery Agents engaged by Banks”, “Customer Service in Banks”, and “Loans and Advances – Statutory and Other Restrictions”. In both cases, the RBI said the penalties are based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the banks with their customers.

Daily GK Update- 19th Oct, 2023

NATIONAL UPDATES:

 

1. PM to launch India’s first Regional Rapid Transit System (RRTS): Prime Minister Narendra Modi inaugurated the priority section of the Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) Corridor.  This historic event takes place at the Sahibabad RapidX Station in Uttar Pradesh

Key Highlights

·       The priority section spans 17 kilometers, connecting Sahibabad to ‘Duhai Depot’ and includes stations at Ghaziabad, Guldhar, and Duhai.

·       The average speed of RAPIDX trains on the RRTS will be 100 kmph, surpassing metro trains.

 

2. Minister Rajeev Chandrasekhar to inaugurate project “Heartland Tripura”: Union Minister of State for Skill Development  Rajeev Chandrasekhar inaugurated the project “Heartland Tripura,” a skill development initiative in collaboration with Deloitte in Agartala Aim: To provide skill development and employment opportunities to undergraduate students in engineering and non-engineering disciplines. This project will deliver a specific set of skill development certification courses through NIELIT-Agartala for the state.

 

3. President Murmu launched 4th Agriculture Road Map of Bihar: President Droupadi Murmu has launched the 4th Agriculture Road Map of Patna, Bihar. Several new specifications have been added to the new Agriculture Roadmap which will be implemented during 2023 to 2028. In this five-year plan we will promote agriculture taking into account the geographical and soil-related virtues of different regions. With this projection the state will be able to ensure low-cost farming and increase productivity in crops like paddy, wheat, makhana and others. There is a plan to establish small storage facilities at the Panchayat level that will help to procure attractive prices to farmers and protect them from distress selling.

 

4. Dr Meenesh Shah appointed on IDF Board: Dr Meenesh Shah, Chairman and Managing Director of the National Dairy Development Board (NDDB), was elected to the Board of the International Dairy Federation (IDF) during the General Assembly of IDF. He is the Member Secretary of the Indian National Committee and also a member of the Standing Committee on Dairy Policy and Economics. Dr Shah mentioned that a representative from India, a country that contributes over 23 percent of the global milk production, is on the Board of IDF, which will ensure a more inclusive and better global dairying ecosystem. This will also help putting forth the voice of millions of dairy farmers from the smallholder-based dairying system to the global forum and help design suitable policies, frameworks, systems and processes, the release stated.

IDF Headquarters is located in Brussels, Belgium.

 

 

INTERNATIONAL UPDATES:

 

1. Indian Army wins gold medal in Cambrian Patrol 2023 military: The Indian Army won a gold medal at the Cambrian Patrol Exercise 2023 held in the UK while competing against 96 teams representing special forces and regiments from around the world. The 4/5 Gorkha Rifles (Frontier Force) represented the Indian Army at the drill held at Brecon, Wales, during October 13-15. The Cambrian Patrol Exercise is considered the ultimate test of human endurance and team spirit and is considered the “Olympics of military patrolling”.

 

2. V. Muraleedharan engages with Indian Community in Oman: MoS for External Affairs and Parliamentary Affairs V. Muraleedharan will pay his third official visit to the Sultanate of Oman on 18-19 October 2023. During the visit, he will hold high-level discussions with the Omani leadership and dignitaries.  He will also inaugurate the painting exhibition, "India on Canvas: Masterpieces of Modern Indian Painting” which is a collection of specially curated 20 works of art from the collection of National Gallery of Modern Art

 

3. India’s rank on Global Pension Index falls to 45 out of 47 countries: India dropped from the 41st position out of 44 countries in the 2022 Global Pension Index to the 45th spot out of 47 countries in 2023. India’s retirement system has improved to some extent from 2022, according to Mercer CFA Institute Global Pension Index (MCGPI) survey 2023.  The Netherlands had the highest overall index value (85.0), closely followed by Iceland (83.5) and Denmark (81.3). Argentina had the lowest index value (42.3).

 

4. Global Remote Work Index, India among world’s worst countries: India has been ranked 64th out of 108 countries for remote work, marking a significant drop of 15 places compared to the 2022 The top 10 countries are Denmark, Netherlands, Germany, Spain, Sweden, Portugal, Estonia, Lithuania, Ireland, and Slovakia. The Global Remote Work Index (GRWI), published by cybersecurity firm NordLayer, assessed countries based on four key criteria: cyber safety, economic safety, digital and physical infrastructure, and social safety.

 

5. Arindam Bagchi Appointed as India’s Ambassador to UN in Geneva: The Ministry of External Affairs announced the appointment of career diplomat Arindam Bagchi as India's next permanent representative to the United Nations and related global bodies in Geneva. Bagchi would be succeeding Indra Mani Pandey, the incumbent Indian envoy to the UN in Geneva. 

He is an Indian Foreign Service officer of the 1955-batch.  He was given the key charge of MEA spokesperson in March 2020, at a time when the world was facing the COVID-19 pandemic.

 

6. S Jaishankar unveils bust of Mahatma Gandhi in Tao Dan Park in Vietnam: External Affairs Minister, S Jaishankar unveiled the bust of Mahatma Gandhi in Tao Dan Park in Ho Chi Minh City, Vietnam. The unveiling of the bust is a symbolic moment for the friendship between India and Vietnam and underlines the message of independence, self-reliance, and human dignity. Mahatma Gandhi’s contributions to truth, non-violence, and the freedom and independence of people have been recognized the UN by proclaiming his birthday as the International Day of Non-Violence. EAM had also co-chaired the 18th India-Vietnam Joint Commission meeting in Hanoi along with his Vietnamese counterpart Bui Thanh Son.

 

7. NASA has launched a spacecraft called ‘Psyche’: NASA has launched a spacecraft called ‘Psyche’ on a six-year mission to study a unique metal-rich asteroid also named ‘Psyche.”

It is the largest of the several metal-rich asteroids known in our solar system and is believed by scientists to be the remnant core of an ancient protoplanet, offering clues about Earth’s formation. This asteroid orbit the Sun between Mars and Jupiter. The primary goal of the Psyche mission is to explore the iron core, a previously unexplored aspect of the planet. The Psyche probe, folded inside the cargo bay of a SpaceX Falcon Heavy rocket, blasted off under partly cloudy skies from NASA’s Kennedy Space Center in Cape Canaveral on a planned journey 2.2 billion miles (3.5 billion km) through space. The spacecraft, roughly the size of a small van, is due to reach the asteroid in August 2029. Asteroid Psyche measures roughly 173 miles (279 km) across at its widest point and resides on the outer fringes of the main asteroid belt between the planets Mars and Jupiter.

 

OTHER UPDATES:

 

SPORTS

 

1. Ashutosh Sharma Breaks Yuvi’s Record for Fastest 50 in Syed Mushtaq Ali Trophy: Railways’ middle-order batter, Ashutosh Sharma broke former India batter Yuvraj Singh’s 16-year-old record for the fastest fifty by an Indian. Ashutosh smashed his half-century in 11 balls in the Syed Mushtaq Ali Trophy T20 tournament, in a Group C clash against Arunachal Pradesh in Ranchi. Ashutosh made his T20 debut way back in 2018 for Madhya Pradesh and last played the format in 2019. He has featured in just one 50-over game, for MP also in 2019, and is yet to make his first-class debut. Yuvraj had held the record for the fastest fifty in T20 cricket overall for 16 years before it was broken just last month by Dipendra Singh Airee from Nepal against Mongolia in the Asian Games in Hangzhou.

 

BANKING AND FINANCE

 

1. Sberbank becomes first Russian bank to register with Sebi as FPI: Sberbank of Russia has become the first Russian bank to register with the Indian markets regulator as a foreign portfolio investor (FPI), according to data available on the website of National Stock Depository (NSDL). Sberbank of Russia, a state-owned bank which already has a presence in India, registered with the Indian markets regulator for a Category I FPI licence. FPIs with category I licence have to follow less lenient beneficial ownership disclosures.

 

2. RBI imposes monetary penalty on four co-operative banks & 1 HFC: The Reserve Bank of India has imposed monetary penalties on four co-operative banks and one housing finance company (HFC).

The RBI imposed:

·       Rs 4.50 lakh on Gujarat Mercantile Co-operative Bank

·       Rs 2 lakh each on Makarpura Industrial Estate Co-operative Bank and Nagarik Sahakari Bank

·       Rs 50,000 on The Sevalia Urban Co-operative Bank

·       Rs 1.70 lakh on West End Housing Finance

·       The housing finance company that faced RBI action is West End Housing Finance.

 

3. RBI Fines ICICI Bank And Kotak Mahindra Bank For Regulatory Violations: The RBI imposed a penalty of Rs 3.95 crore on Kotak Mahindra Bank and Rs 12.19 crore on ICICI Bank for non-compliance with a few regulatory norms.  Kotak Mahindra Bank was penalized for failing to conduct an annual review or due diligence of its service provider and for violation of contact hours with customers. ICICI Bank, on the other hand, was penalized for committing loans to companies, the bank also engaged in marketing and selling non-financial products

 

4. RBI cancels Registration Certificate of Ind Bank Housing Ltd: The Reserve Bank of India (RBI) has canceled the Certificate of Registration of Chennai-based Ind Bank Housing Ltd. Indian Bank and HUDCO (Housing and Urban Development Corporation Ltd) are major shareholders in the housing finance company, holding 51 percent and 25 percent stake, respectively. The company was set up in 1991. The housing finance company’s net loss widened to ₹55.78 lakh in FY23 against ₹12.93 lakh in FY22. The balance loss carried to balance sheet stood at ₹135.70 crore in FY23 against ₹135.15 crore in FY22, per the HFC’s annual report The company is currently not providing any new loans. The credit period of existing loans have already expired and the company is taking conscious efforts to recover the loans given. The company shall neither transact the business of a Housing Finance Institution nor of a Non-Banking Financial Institution as defined in National Housing Bank Act, 1987 and Reserve Bank of India Act, 1934, respectively.