Daily GK Update- 18th Oct, 2024

 NATIONAL UPDATES:

 

1. Cabinet approves additional instalment of three percent of Dearness Allowance to Central Government employees: The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a 3% increase in Dearness Allowance (DA) for central government employees.The hike, which takes effect from July 1, 2024, also extends to pensioners, with Dearness Relief (DR) being increased by the same percentage. The Dearness Relief for pensioners has also been revised by 3%.The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved an additional installment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 01.07.2024 representing an increase of three percent (3%) over the existing rate of 50% of the Basic Pay/Pension, to compensate against price rise.

 

2. India hosts the 19th ICDRA meeting for the first time in New Delhi: India hosts the 19th International Conference of Drug Regulatory Authorities (ICDRA) meeting in New Delhi.India was to host the event in 2020, but due to the COVID-19 pandemic, it was postponed and was held in 2024.India hosts the ICDRA meeting for the first time. The 18th International Conference of Drug Regulatory Authorities meeting was held in Dublin, Ireland in 2018.The meeting will bring together drug authorities from World Health Organisation (WHO) member countries to strengthen collaboration and develop international consensus on regulatory priorities.The 19th International Conference of Drug Regulatory Authorities is hosted by the Central Drugs Standard Control Organization (CDSCO) in collaboration with the World Health Organization (WHO). The CDSO comes under the Union Ministry of Health and Family Welfares.

 

3. Cabinet approves MSP for Rabi Crops for Marketing Season 2025-26: The Cabinet Committee on Economic Affairs (CCEA) chaired by PM Narendra Modi, has approved increasing the Minimum Support Prices (MSP) for all mandated Rabi Crops for Marketing Season 2025-26.The absolute highest increase in MSP has been announced for Rapeseed & Mustard at Rs.300 perquintal followed by Lentil (Masur) at Rs.275 per quintal. For gram, wheat, safflower and barley, there is an increase of Rs.210 per quintal, Rs.150 per quintal, Rs.140 per quintal and Rs.130 per quintal respectively.In the Union Budget of 2018-19, Finance Minister Arun Jaitley announced that a crop’s MSP should be at least 1.5 times the All-India weighted average Cost of Production.The expected margin over All-India weighted average cost of production is 105 percent for wheat, followed by 98 percent for rapeseed & mustard; 89 per cent for lentil; 60 per cent for gram; 60 percent for barley; and 50 percent for safflower.

 

4. SECL Becomes First Coal Company to Open Four AMRIT Pharmacies: South Eastern Coalfields Limited (SECL), a Chhattisgarh-based subsidiary of Coal India, has inaugurated the country’s 216th AMRIT (Affordable Medicines and Reliable Implants for Treatment) Pharmacy.Located at the Health Centre in SECL’s Indira Vihar Colony, Bilaspur, this new facility makes SECL the first coal company to operate four AMRIT pharmacies.The AMRIT pharmacies, part of a flagship initiative launched by the Ministry of Health and Family Welfare in 2015, provide a wide range of generic and life-saving branded drugs, implants, and surgical consumables at highly subsidized rates. SECL’s initiative will benefit both inpatients and outpatients, including SECL employees, general public, and especially people from tribal and rural areas within the coal belt.The expansion of these pharmacies will ensure easier access to affordable medicines for communities in some of the most underserved areas.

 

5. Dr Jitendra Singh dedicates India’s first Airport based self-powered indoor air quality monitoring facility: Pavana Chitra embodies a powerful fusion of technology, tradition, and art, presenting an off-grid, self-powered indoor air quality monitor powered by indigenous indoor solar cells developed by CSIR-NIIST. It is crafted from locally available materials and designed to mimic the natural process of photosynthesis.Union Minister of State for Science and Technology (Independent Charge) Dr Jitendra Singh unveiled Pavana Chitra, India’s first Airport based self-powered indoor air quality monitoring facility at Thiruvananthapuram International Airport.The off-grid air quality monitor is powered by Indigenous indoor solar cells developed by CSIR-NIIST, crafted from locally available materials.

 

6. Justice will no longer be ‘blind’: Supreme Court embraces new symbolism: The Supreme Court (SC) of India has unveiled a redesigned version of the ‘Lady Justice’ statue, marking a significant departure from its colonial past.Traditionally depicted with a blindfold and a sword, the new statue now features ‘Lady Justice’ with open eyes and the Constitution of India in place of the sword, reflecting the judiciary’s commitment to constitutional values and justice that “sees everyone equally”.Replacing the sword with the Constitution: Another striking feature of the new ‘Lady Justice’ is the replacement of the sword with the Constitution. While the sword previously represented authority and punishment, its replacement with the Constitution signifies a shift towards a more principled and balanced approach to justice.The Constitution, as the foundation of the judiciary’s role, represents the upholding of rights, equality, and fairness over mere retribution.The sword is a symbol of violence, but courts deliver justice according to constitutional laws. The new statue aims to reflect this principle.

 

7. Omar Abdullah sworn in as CM of Jammu & Kashmir: Omar Abdullah of the National Conference party was sworn in as the first chief minister of the Union Territory of Jammu and Kashmir.Along with Omar Abdullah, five ministers, four from the National Conference Party and one independent, were also sworn in.Surinder Kumar Choudhary, the National Conference MLA from the Jammu region, was sworn in as deputy chief minister.Jammu and Kashmir have been under the president’s rule since the fall of the PDP-BJP coalition government in 2018. The President’s rule was revoked after 6 years by the President on 13 October 2024. Omar Abdullah has been sworn in as the chief minister of Jammu and Kashmir for the secondtime. He became the chief minister of Jammu and Kashmir for the first time in January 2009 and remained till 8th January 2014.

 

8. Nayab Singh Saini sworn in as CM of Haryana for 2nd time: Nayab Singh Saini of the Bharatiya Janata Party was sworn in as the chief minister of Haryana for the second consecutive time.Nayab Singh Saini is the 11th chief minister of Haryana. The state governor, Bandaru Dattatreya, administered the oath of Office to Nayab Singh Saini and his 13 ministers at a ceremony in Panchkula, Haryana.Nayab Singh Saini became the chief minister of Haryana for the first time on 12 March 2024 after Manohar Lal Khattar’s resignation. Manohar Lal Khattar was the first-ever chief minister of Haryana from the Bharatiya Janata Party.The BJP successfully retained its decade-long power in Haryana with a third straight win in the 2024 Assembly election by winning 48 seats in the 90-member Haryana State Assembly.

 

9. CJI Chandrachud nominates Justice Khanna as successor: Justice Dhananjaya Y Chandrachud has officially initiated the process to appoint his successor by recommending Justice Sanjiv Khanna, the Supreme Court’s senior-most judge, to the Union government.Justice Khanna is set to take over as Chief Justice of India (CJI) on November 11, following Justice Chandrachud’s retirement on November 10.Justice Khanna, who will serve as the 51st CJI, is expected to remain in office until his retirement on May 13, 2025, giving him a tenure of around six months.Under the current memorandum of procedure (MoP), the most senior judge of the Supreme Court, deemed fit, is appointed as the CJI. Justice Khanna’s name has been recommended based on this convention.

 

INTERNATIONAL UPDATES:

 

1. Nityanand Rai attends the APMCDRR meeting in Manila, Philippines: The Union Minister of State for Home Affairs, Nityanand Rai, represented India at the 2024 Asia-Pacific Ministerial Conference on Disaster Risk Reduction (APMCDRR) in Manila, Philippines.The conference is being attended by over 7000 ministers and delegates from across the Asia Pacific region to address the critical need for enhanced action on disaster risk reduction.The 2024 Asia-Pacific Ministerial Conference on Disaster Risk Reduction is being organised by the Philippines government in partnership with the United Nations Office for Disaster Risk Reduction.Theme 2024 – Surge to 2030: Enhancing ambition in Asia-Pacific to accelerate disaster risk reduction

 

2. Lady Justice’s eyes open, blindfold removed: The removal of the blindfold from ‘Lady Justice’ is more than a visual change—it symbolises a shift in how the judiciary views justice in modern India.The blindfold, long associated with impartiality and equality before the law, has been replaced with open eyes. This change, according to sources in the Supreme Court, reflects an evolving legal identity—one that distances itself from colonial symbols and embraces a uniquely Indian interpretation of justice.The updated statue now stands proudly in the judges’ library, embodying a justice system that is aware, vigilant, and inclusive.

 

3. NITI Aayog organized a two-day International Methanol Seminar and Expo 2024: NITI Aayog has organized a two-day international methanol seminar and expo in 2024 in New Delhi. The event was held in collaboration with the Methanol Institute of the United States.This event highlight the progress of projects, products, and Research and Development initiatives related to Methanol production, application, and allied technological developments in the world.The key focus of the seminar highlight the role of Methanol in the world energy transition and the rise of Methanol as a low-carbon fuel in green shipping.

 

4. 17 October – International Day for the Eradication of Poverty: The International Day for the Eradication of Poverty is celebrated every year on October 17 throughout the world.

The day tries to promote dialogue and understanding about poverty within governments and policymakers.Theme 2024 – Breaking Barriers and Building Bridges: Together Towards Equality and InclusionIn 1992, the United Nations General Assembly, by resolution 47/196, designated October 17 as the International Day for the Eradication of Poverty.

 

5. 15 October – Global Handwashing Day: Global Handwashing Day is celebrated every year on 15 October.The day was established to raise awareness about the benefits of washing hands with soap, particularly in preventing illnesses like diarrhea and respiratory infections, which claim millions of lives annually.Theme 2024 – Why are clean hands still importantIn 2008, over 120 million children across 70 countries washed their hands with soap on the first Global Handwashing Day. Since then, leaders in communities and nations have used this day to promote handwashing, build facilities, and stress the importance of clean hands. It has become a global event, supported by governments, schools, organizations, and individuals.

 

6. 16 October – World Anesthesia Day: World Anaesthesia Day is observed annually on October 16th to commemorate the first successful use of ether anaesthesia in surgery, which took place in 1846.It also aims to raise awareness about the importance of anaesthesia in various medical procedures and highlight the ongoing progress and innovations in this field that continue toenhance patient care globally.Theme 2024 – Workforce Well-Being On this day in 1846, American dentist Dr. William T.G. Morton administered ether to a patient at the Massachusetts General Hospital in Boston, allowing a painless surgery to take place.

 

OTHER UPDATES:

BANKING AND FINANCE

 

1. PFC Infra Finance IFSC Ltd gets approval to operate from GIFT City: PFC Infra Finance IFSC Limited (PIFIL), a wholly owned subsidiary of Power Finance Corporation Limited (PFC), has received approval from International Financial Services Centres Authority (IFSCA) to commence business as a Finance Company in IFSC GIFT City Gujarat.PFC Infra Finance IFSC Ltd (PIFIL) will be the first finance company in IFSC dedicated to power and infrastructure sector lending.PIFIL aims to provide lending in India and other countries in foreign currency, catering to government as well as private players. The establishment of PIFIL will position PFC as a global brand and contribute to strengthening India’s position as a global financial hub
.

 

Daily GK Update- 17th Oct, 2024

 NATIONAL UPDATES:

 

1. India and Colombia sign Audio-Visual Co-Production Agreement to boost film co-production and cultural ties: India and Columbia have signed the Audio-Visual Co-Production Agreement which will enable Indian and Colombian film producers to utilize a platform for collaboration on various facets of film making.The agreement is expected to deepen the engagement between the critical sectors of the film industries of both countries thereby, unfolding a new chapter of collaboration.Colombia – 17th Country to sign Audio Visual co-production Agreement with India. Earlier, the GoI had signed similar agreements with the Government of Italian Republic and Government of United Kingdom of Great Britain and Northern Ireland in 2005, Federal Republic of Germany in 2007, Government of the Federative Republic of Brazil in 2007.India has also signed this agreements with Republic of France in 2010, Republic of New Zealand in 2011, Republic of Poland and Republic of Spain in 2012. More recent agreements were signed with Canada and China in 2014, Republic of Korea in 2015, Bangladesh in 2016, Portugal in 2017, Israel in 2018, Russia in 2019 and Australia in 2023.

 

2. BEML wins Rs 866.87 crore contract to build ‘Made in India’ bullet trains: State-owned BEML has been awarded a contract of Rs 867 crore for designing, manufacturing, and commissioning two high-speed train sets, marking the first time that such work will be done indigenously.The contract was awarded by Integral Coach Factory (ICF), Chennai.The price of each car is Rs 27.86 crore and the total contract value is Rs 866.87 core which includes design cost, one-time development cost, non-recurring charges, one time cost towards jigs, fixtures, tooling and testing facilities, which will be utilised for all future high-speed projects in India.This project marks a significant milestone in India’s high-speed rail journey and will see the first indigenously designed and manufactured train sets with a test speed of 280 kmphThe sets will be built at BEML’s Bengaluru rail coach complex and are scheduled for delivery by the end of 2026.

 

3. Acko appoints Sandip Goenka as CEO of Acko Life: Bengaluru-based insurtech firm Acko has appointed Sandip Goenka the chief executive officer of its recently launched life insurance business.As a founding member of Acko Life, Goenka has played a key role in establishing the D2C life insurance business.Founded in 2016, ACKO has expanded its offerings beyond life insurance to include vehicle, health, and travel insurance, serving over 78 million unique customers and issuing more than 1 billion policies.

 

4. Rashmika Mandanna appointed national ambassador for cyber safety: Actor Rashmika Mandanna has been appointed the National Ambassador for Promoting Cyber Safety by the Indian Cybercrime Coordination Centre (I4C) under the Ministry of Home Affairs.The Animal actor will spearhead a nationwide campaign aimed at raising awareness about cyber threats and promoting online safety.As the ambassador, Rashmika will spearhead nationwide cyber awareness campaigns designed to inform the public about cyber crimes including deepfake technology, malicious AI-created content, cyberbullying, financial frauds, and other online scams.

INTERNATIONAL UPDATES:

 

1. Jyotiraditya Scindia Inaugurates International 6G Symposium: Minister of Communications and Development of the North Eastern Region, Jyotiraditya M. Scindia has inaugurated the International 6G Symposium at the sidelines of ITU-WTSA24 and IMC 24.The Bharat 6G Alliance is a collaborative initiative of Indian industry, academia, national research institutions, and standards organizations.The event, organized by the Bharat 6G Alliance, marks a crucial milestone in India’s journey towards global leadership in 6G technology.It brings together various stakeholders to foster innovation, standardization, and research in the field of 6G telecommunications and to contribute to global 6G standards through bodies like the ITU and 3GPP (Third Generation Partnership Project).The Bharat 6G Alliance(B6GA) signed various MoUs with global collaborators, NGMN Alliance (Next Generation Mobile Network Alliance), 5G ACIA (5G Alliance for Connected Industries and Automation), Germany, UKI-FIN (UK- India Future Networks Initiative) & UK TIN (UK Telecom Innovations Networks), 6G Forum (South Korea), 6G Brasil (Brazil).

 

2. Abu Dhabi World’s Richest In Terms Of Sovereign Wealth Funds: As of October 2024, Global SWF has crowned Abu Dhabi with the title of the world’s richest country, in terms of its sovereign wealth funds.The country is estimated to boast a staggering $1.7 trillion in capital, followed closely by Oslo (home of the world’s largest SWF, NBIM), Beijing, Singapore, Riyadh and Hong Kong.Collectively, these six cities account for two-thirds of the capital managed by sovereign wealth funds worldwide, totalling $12.5 trillion as of October 1, 2024.

 

3. 14 October – World Standards Day: World Standards Day is observed every year on 14 October.This aims to emphasize the role that standardization plays in enhancing international trade and safety, as well as quality of life.Theme 2024 – Shared Vision for a Better World: Standards for the Changing ClimateThe date it commemorates is the first meeting held in 1946, at which delegates from 25 countries met in London to establish an international organization that would concentrate its efforts on standardization.Although the International Organization for Standardization was constituted the following year, the first World Standards Day was only celebrated in 1970.

 

4. 15 October – World White Cane Day: World White Cane Day is observed annually on October 15 to recognise the importance of the white cane as a tool for individuals who are blind or visually impaired.Beyond its practical use, this day aims to raise public awareness about pedestrian safety and the rights of people with visual disabilities.Theme 2024 – Promoting Inclusion: Celebrating Abilities and Advocating Access for PeopleThe day was first celebrated in 1964, with President Lyndon B. Johnson marking the occasion. Since then, the white cane has been recognized not only as an essential tool for mobility but also as a strong symbol of independence for blind individuals.

 

5. 15 October – Global Handwashing Day: Global Handwashing Day is celebrated annually on October 15.Objective – To encourage people worldwide to wash their hands with soap when needed.Theme 2024 – Why are clean hands still importantGlobal Handwashing Day was initiated in 2008 by the Global Handwashing Partnership, a coalition of international organisations dedicated to promoting hand hygiene.

 

6. 16 October – World Food Day: World Food Day is celebrated every year on 16 October across the world.The objective of World Food Day is to eradicate hunger, ensure food security, boost agricultural productivity and support a sustainable food system.Theme 2024 – Right to Food for a Better Life and a Better Future.The Food and Agriculture Organisation (FAO) came into existence in 1945 and World Food Day came into existence in 1979 when the 20th FAO Conference declared October 16 as World Food Day.Over 150 countries join the movement, observing this day to raise awareness about hunger, malnutrition, and food-promoting sustainable solutions for a zero-hunger world.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. CCI approves the proposed acquisition of 24.91% shareholding in Future Generali India Insurance by Central Bank of India: Competition Commission of India (CCI) has approved the proposed acquisition of 24.91% shareholding in Future Generali India Insurance and 25.18% shareholding in Future Generali India Life Insurance by Central Bank of India.Proposed combination envisages acquisition by Central Bank of India of 24.91%equity stake in Future Generali India Insurance Company Limited (FGIICL) and 25.18%equity stake in Future Generali India Life Insurance Company Limited (FGILICL) through bid/resolution plan submitted by Central bank of India under Insolvency and Bankruptcy Board of India (Insolvency Resolution 2016.

 

2. Aditya Birla Housing Finance partners BharatPe to revolutionise secured lending: A wholly-owned subsidiary of Aditya Birla Capital Ltd, Aditya Birla Housing Finance (ABHFL) has entered into a strategic partnership with BharatPe, a fintech company, to facilitate access to home loans and loan against property for latter’s merchant partners.ABHFL is the first housing finance company to partner with BharatPe, offering streamlined access to secured lending through advanced digital solutions, significantly enhancing the user experience.This collaboration enables ABHFL to offer Home Loans (HL) and Loans Against Property (LAP) to over 1. 3 crore merchants of BharatPe across 450+ cities.CEO of Bharat Pe – Nalin Negi MD & CEO of ABHFL – Pankaj Gadgil

 

3. URGO Capital secures financing facility of USD 40 million from DFC: United States International Development Finance Corporation (DFC) has committed USD 40 million (approx Rs 330 crore) loan with UGRO Capital to bridge the credit gap in the MSME sector.This investment marks a critical step in UGRO Capital’s journey to empower small businesses at the grassroots level and deepen financial inclusion across the country.This financing facility from DFC will mark the third impact deal for UGRO within a year.DFC’s support will enable UGRO Capital to bolster its lending efforts to small and mediumsized businesses across India, with a focus on empowering women-owned enterprises.

 

4. Magma HDI launches ‘Double Suraksha’: Affordable Insurance for Every Income Group: Magma HDI General Insurance provides ‘Double Suraksha,’ a comprehensive insurance solution tailored to the demands of people with diverse financial backgrounds.Whether for individuals who cannot afford complete health policies due to high costs, or for the wealthy wanting additional coverage for unexplained expenses while hospitalised, ‘Double Suraksha’ gives a fixed daily cash reward. This gives policyholders the financial freedom to use the payout for medical or non-medical expenses associated to hospitalisation, depending on their specific needs.

 

 

Daily GK Update- 16th Oct, 2024

 NATIONAL UPDATES:

 

1. PhonePe launches new plan Firecracker Insurance for Diwali: Payments major PhonePe has tied up with Bajaj Allianz General Insurance to offer affordable insurance coverage against firecracker-related accidents during Diwali for a limited period.The insurance cover entails a sum insured of Rs 25,000 for a premium of Rs 9, inclusive of goods and services tax (GST).The coverage is for 10 days starting from October 25, 2024, to November 3, 2024.The plan includes hospitalisation cover, day care treatment, and accidental death, limited only to the policyholder. The sale of these policies will end on November 3, 2024.The plan can be purchased on the PhonePe app and provides coverage to families by insuring up to four family members, including the user, their spouse, and up to two children.CEO of PhonePe Insurance Broking Services – Vishal Gupta

 

2. Ericsson wins multi-billion-dollar 5G equipment contract from Bharti Airtel: Swedish telecom gear maker Ericsson has received a new multi-billion-dollar contract for selling 5G equipment from India’s Bharti Airtel.This comes after Ericsson got part of a $3.6 billion contract last month for selling 5G equipment to India’s Vodafone Idea. It shared the contract with Nokia and Samsung.The new contracts are expected to boost Ericsson’s revenue next year after seeing a big fall in contracts from India in the first half of the year.Demand from the Indian 5G market started to skyrocket in 2023, when sales from the region grew as much as five times, as Airtel and Jio, the telecoms unit of Indian conglomerate Reliance Industries, started to scale up 5G services.

 

3. PM Modi inaugurates WTSA 2024 and 8th India Mobile Congress 2024: PM Narendra Modi has inaugurated the International Telecommunication Union (ITU) – World Telecommunication Standardization Assembly (WTSA) 2024 at New Delhi.The Prime Minister also inaugurated the 8th edition of the India Mobile Congress 2024, which is being held along with the WTSA 2024 in New Delhi.

 

INTERNATIONAL UPDATES:

 

1. 75th International Astronautical Congress begins in Milan with focus on responsible space for sustainability: The 75th International Astronautical Congress (IAC) opened at the MiCo Convention Center in Milan, Italy.The event has drawn more than 10,000 space experts, scholars, entrepreneurs, and professionals from around the world. Italian President Sergio Mattarella attended the opening ceremony.This year’s congress, themed “Responsible Space for Sustainability,” focuses on promoting the sustainable development of space technologies globally, ensuring that future space exploration and utilization strike a balance between scientific advancement and environmental protection.Throughout the week, over 200 technical sessions will be held, covering a wide range of topics, including the sustainable exploration of the Moon and Mars, space-based Earth observation for climate change, the role of private companies in space development, and applications of artificial intelligence.

 

2. 15 October – World Students’ Day: World Students’ Day is observed every year on 15 October to honour the contributions of the former President Dr. APJ Abdul Kalam in the field of education. Known as the Missile Man of India, India’s 11th president from (2002 -2007) was a distinguished administrator and scientist who spent more than forty years with the Defense Research and Development Organization (DRDO).Theme 2024 – Empowering Students to be Agents of Change To commemorate Kalam’s numerous achievements, particularly in the areas of academia and research, October 15 was chosen as World Students’ Day in 2010.

 

OTHER UPDATES:

DEFENCE

 

1. DG Paramesh Sivamani takes over as 26th Director General of Indian Coast Guard: Paramesh Sivamani took over as the 26th Director General of the Indian Coast Guard (ICG).He was elevated to the rank of Additional Director General in September 2022, and was subsequently posted at the Coast Guard Headquarters in the national capital.He was given the additional charge of DG ICG in August 2024 after the untimely death of then Director General Rakesh Pal due to heart attack when in Chennai.The Flag Officer was conferred with the Tatrakshak Medal in 2014 and the President Tatrakshak Medal in 2019 for his illustrious service.He was also awarded the DG Coast Guard Commendation in 2012 and Flag Officer Commanding-in-Chief (East) Commendation in 2009.

 

2. India, US sign Rs 32,000-crore deal for 31 Predator drones: India has signed a deal with the US for the procurement of 31 Predator MQ-9B High Altitude Long Endurance UAV manufactured by General Atomics.The development comes less than a month after Prime Minister Narendra Modi and US President Joe Biden held talks about the acquisition of the drones on the sidelines of the Quad Leaders’ Summit held in Delaware.This deal, aimed at enhancing the country’s operational readiness and military strength, includes tri-service procurement of the MQ-9B Sky Guardian and Sea Guardian drones.The MQ-9B Predator is a next-generation remotely piloted aircraft capable of conducting a range of intelligence, surveillance, and reconnaissance missions.The drone can fly as close to 250 metres from the ground without the target even having an inkling it is there unless spotted.With a maximum speed of 442 km/h, the drone can soar at an altitude of around 50,000 feet, higher than that of a commercial airplane.

 

SPORTS 

 

1. Aryna Sabalenka wins the WTA Wuhan 1000 singles title: World No.2 Aryna Sabalenka of Belarus defeated World No.7 Zheng Qinwen of China to win her third consecutive women’s WTA Wuhan 1000 singles title.The WTA Wuhan 1000 Tennis tournament was held in the Chinese city of Wuhan. Wuhan Open is played at the Hard Court.Aryna Sabalenka defeated the local favourite Zheng Qinwen 6-3, 5-7, 6-3 in the final played at Wuhan. This was Aryna Sabalenka’s third title at Wuhan, having won it in 2018 and 2019.This is the 17th WTA Tour title for Aryna Sabalenka and her fifth on Chinese soil.The pair of Anna Danilina of Kazakhstan and Irina Khromacheva of Russia defeated the American pair of Asia Muhammad and Jessica Pegula 6-3, 7-6(6) in the final of the Wuhan Open. This was the first WTA 1000 title for the pair of Anna Danilina and Irina Khromacheva.

 

2. Jannik Sinner wins the ATP Shanghai Masters 1000 singles title: World Number One male tennis player Jannik Sinner of Italy defeated 24 Grand Slam winner Novak Djokovic of Serbia in the final to win the ATP Shanghai Masters 1000 singles title.The ATP Shanghai Master 1000 was held in the Chinese city of Shanghai from 2 to 13 October 2024. The Shanghai Master is played on a hard court.Jannik Sinner defeated Novak Djokovic 7-6 (7/4), 6-3. The defeat also ended Djokovic’s quest to win his 100 ATP titles.

 

3. Tanya Hemanth wins 2024 Bendigo International Badminton Tournament: 21-year-old Tanya Hemanth of India won the 2024 Bendigo International badminton tournament women’s singles final.She defeated Tung Ciou-tong of Chinese Taipei in the final at Bendigo, Australia, in straight sets 21-17, 21-17.This was Tanya’s third international title after the 2022 India International and the 2023 Iran Fajr International.The Bendigo International badminton tournament was held in Bendigo, Australia. It is a Grade 3 International Challenge tournament.

 

4. Sonam Uttam Maskar wins Silver Medal in Women’s 10m Air Rifle event: Indian shooter Sonam Uttam Maskar won the silver medal in the Women’s 10m Air Rifle event at the ISSF World Cup 2024 final in Delhi.The 22-year-old Maskar excelled with a score of 252.9 to secure a podium finish. China’s Yuting Huang won the gold medal in this event, while French shooter Oceanne Muller took home the bronze.The Indian squad features nine athletes from the 2024 Paris Olympics, including Arjun Babuta (men’s 10m air rifle), Anish Bhanwala (men’s 25m rapid fire pistol. Olympic champion Huang Yuting of China won the gold while Oceanne Muller of France took bronze.

 

SCIENCE AND TECHNOLOGY

 

1. NASA launches Europa Clipper to examine Jupiter’s moon: NASA has launched a groundbreaking mission to investigate Jupiter and its moon, Europa, one of the prime locations in the search for life beyond Earth.The spacecraft, named Europa Clipper, is designed to study the moon’s icy surface and the subsurface ocean believed to exist beneath.It was launched aboard a SpaceX Falcon Heavy rocket from Nasa’s Kennedy Space Center, with the mission costing $5.2 billion.Europa Clipper will not directly search for life, but will assess whether Europa’s environment could support it. The spacecraft will examine the moon’s ice-covered ocean, located relatively close to the surface. Although it won’t hunt for microorganisms, its findings may pave the way for future missions aimed at detecting life.

2. Why is Jupiter’s moon Europa a key target?: Europa, one of Jupiter’s 95 known moons, is slightly smaller than Earth’s moon and is covered by an ice sheet estimated to be 10 to 15 miles (15 to 24 km) thick.Beneath this frozen surface, scientists believe a vast ocean exists, potentially up to 80 miles (120 km) deep.This ocean could be a rich environment for life due to the presence of water, organic compounds, and energy sources such as thermal vents on the ocean floor.Although Europa was discovered by Galileo in 1610, interest in its potential to support life has grown in recent decades, especially with evidence from the Hubble Space Telescope suggesting geysers erupting from its surface.

 

BANKING AND FINANCE

 

1. Bank of Baroda introduces 400-day ‘Utsav Deposit Scheme’ at 7.3%: Bank of Baroda (BoB) has introduced a 400-day ‘Utsav Deposit Scheme’ for the festive season, offering 7.30 per cent interest to general citizens, even as it has increased interest rates on term deposits (TDs) in the above 3 years to 5 years bucket from 6.50 per cent to 6.80 per cent.The Utsav Deposit Scheme is applicable on fixed deposits below ₹3 crore, offers senior citizens 7.80 per cent interest, super senior citizens (aged 80 years & above) 7.90 per cent, and up to 7.95 per cent on Non-Callable Deposits.The 30 basis points (bps) increase in interest rates on TDs in the above 3 years to 5 years bucket will also benefit the bank’s SDP (Systematic Deposit Plan) customers, who can lock-in higher interest rates on each monthly contribution made for a three- to five-year period.SDP is a recurring deposit scheme that provides assured returns through regular savings every month.

 

2. Biz2X surpasses Rs 9,000 crore mark in loan disbursements: Biz2X, a digital lending SaaS platform and subsidiary of Biz2Credit, has surpassed Rs 9,000 crore mark in loan disbursements.

One of the company’s key growth drivers is its AI-integrated digital lending platform, DigiKred, which plays a pivotal role in optimizing lending functions for Indian lenders.The platform is expected to facilitate an additional Rs 5,000 crore in loan disbursements by the end of FY2025, further scaling the platform’s reach and impact across the financial ecosystem.Co-founder and CEO of Biz2Credit and Biz2X – Rohit Arora

 

3. Tata Capital, Tata Motors Finance merger receives RBI’s approval: The Reserve Bank of India (RBI) has approved the merger of Tata Capital, an unlisted entity, with Tata Motors Finance (TMFL), paving the way for the formation of India’s 12th largest non-banking finance company.

The RBI sent its “no-objection” to both companies earlier this month, according to the companies’ regulatory filings.As consideration for the merger, Tata Capital will issue equity shares to the shareholders of TMFL, resulting in Tata Motors holding a 4.7 per cent stake in the merged entity.As of March 31, 2024, Tata Sons, the holding company of Tata Group, directly owns 92.83 % of Tata Capital’s equity shares, with the majority of the remaining stake held by other Tata Group companies and trust.

 

4. Cashfree Payments unveils UPI Switch to enhance success rates for online businesses: India’s largest payment and API banking firm, Cashfree Payments has received certification from the National Payments Corporation of India for its UPI Switch service.This will allow Cashfree to directly integrate with any bank’s core banking software and offer a higher transaction success rate for its merchants.Cashfree can offer settlement of around 12,000 transactions per second with this certification. Cashfree has built this switch in partnership with NSDL Payments Bank as the sponsor bank.This will help Cashfree achieve a 5% jump in its transaction success rates and help in faster merchant onboarding, instant access to new features on UPI, and better control over the entire payments journey.

 

 

Daily GK Update- 15th Oct, 2024

 NATIONAL UPDATES:

 

1. EAM Jaishankar launches eMigrate V2.0 web portal & mobile app: External Affairs Minister Dr S Jaishankar has inaugurated the eMigrate V2.0 web portal and Mobile App in Delhi. The eMigrate portal has 2.81 lakh registered foreign employers. It promotes safe and legal mobility channels for Indian migrants. The launch of the eMigrate V2.0 portal is a testament to the government’s efforts to create safe, transparent and inclusive mobility for Indians. The revamped version of the portal is a symbol of the government’s commitment to protecting the rights and dignity of Indian workers in foreign lands. This is important because it also aligns with Goal 10 of the 2030 Agenda for Sustainable Development Goals which promotes the facilitation of orderly, safe, regular, and responsible migration and mobility of people.

 

2. HAL becomes 14th Maharatna CPSE in India: Hindustan Aeronautics Limited (HAL) will now be the 14th ‘Maharatna’ company among Central Public Sector Enterprises (CPSE), the Finance Ministry announced. This status will give more autonomy to the company in terms of financial and strategic matters. HAL is a Department of Defence Production (DoDP) CPSE with an annual turnover of ₹28162 crore and a net profit of ₹7595 crore for FY2023-24.

 

3. MSDE partners with Meta for AI Assistant in Skill India Mission and 5 Centers of Excellence in NSTIs: The Ministry of Skill Development & Entrepreneurship (MSDE) has partnered with Meta for the launch of two key initiatives. An AI Assistant for the Skill India Mission and the establishment 5 Centers of Excellence (CoEs) in Virtual Reality (VR) and Mixed Reality (MR) at National Skill Training Institutes (NSTIs) located at Hyderabad, Bengaluru, Jodhpur, Chennai, and Kanpur. Under this partnership, an innovative AI chatbot powered by Meta’s open-source Llama model will be developed, which will enhance the learner experience on the Skill India Digital (SID) Portal. The chatbot, which will be integrated into the SID Portal, offers 24/7 assistance to users, enabling quick discovery of course information, interactive Q&A, for course content, and access to lecture summaries and relevant videos for revision.

 

4. Manoj Kumar Dubey appointed as CEO and MD of IRFC: Public Sector Undertaking Indian Railways Financial Corporation (IRFC) has appointed Manoj Kumar Dubey as the CEO, Chairman, and Managing Director of the company for five years.Dubey joined the Indian Railway Accounts Service (IRAS) in the 1993 batch after clearing the Civil Services examination in the first attempt.

During his decorated career with Indian Railways, he implemented key initiatives such as the near-universal payment of salaries through banks,the introduction of e-tendering and eauction systems etc.He won the National Award for Outstanding Service at the Minister of Railways level in 2011 for his leadership and innovative approaches.He was in the Board of Directors of a Joint Venture Company of General Electricals of USA and IR, Alstom of France and IR, and a Joint Venture Company of NMDC, SAIL, and Indian Railways. He took over as Director (Finance) & CFO, CONCOR.

 

INTERNATIONAL UPDATES:

 

1. JP Nadda inaugurates 19th International Conference of Drug Regulatory Authorities: Union Minister of Health and Family Welfare, Jagat Prakash Nadda inaugurated the 19th International Conference of Drug Regulatory Authorities (ICDRA).The event which is being hosted for the first time in India, from 14th – 18th October by the Central Drugs Standard Control Organization (CDSCO), Ministry of Health and Family Welfare, in collaboration with, the World Health Organization (WHO) brought together regulatory authorities, policymakers, and health officials from over 194 WHO member states.The 5-day conference will feature a series of insightful sessions where regulatory authorities and industry leaders will deliberate on key issues affecting global drug and medical device regulation.

 

2. Trachoma no longer a public health problem in India: WHO: The World Health Organisation (WHO) has certified India, Nepal, and Myanmar as having eliminated trachoma as a public health problem.India joins 19 other countries in the world that have successfully eliminated trachoma as a public health problem.According to the WHO, trachoma is still a major public health problem in 39 countries in the world and causes blindness in around 19 lakh people worldwide.Trachoma was amongst the leading cause of blindness in the country during 1950-60.The Government of India launched the National Trachoma Control Program in 1963 and later on Trachoma control efforts were integrated into India’s National Program for Control of Blindness (NPCB).

 

3. 15 October – International Day for Rural Women: International Day for Rural Women is observed every year on 15 October.The day recognizes the significant contributions of rural women to food systems, agricultural production, and the environment, and calls for equal opportunities for all.Theme 2024 – Rural Women Sustaining Nature for Our Collective Future: Building climate resilience, conserving biodiversity, and caring for land towards gender equality and empowermentThe International Day for Rural Women, first established by the General Assembly in its resolution 62/136 of 18 December 2007, recognizes, “the critical role and contribution of rural women, including Indigenous women, in enhancing agricultural and rural development, improving food security and eradicating rural poverty.”

 

4. 13 October – International Day for Disaster Risk Reduction: The International Day for Disaster Risk Reduction is observed every year on 13 October 2024.The day aims to raise awareness and promote a culture of disaster reduction and risk awareness around the world. The theme for this year is Empowering the next generation for a resilient future.Theme 2024 – Empowering the Next Generation for a Resilient FutureThe primary focus of this year is to empower children through education and equip them to protect themselves and become agents of change in their families and communities.

 

5. 11 October 2024 – World Egg Day: World Egg Day is observed annually on the second Friday of October. This year it observed on 11 October.This day acknowledges the role of eggs in providing essential nutrients and affordable protein to people around the world.

Theme 2024 – United by Eggs

 

OTHER UPDATES:

 

SPORTS 

 

1. Historic medal for Ayhika & Sutirthat at Asian T T Championships 2024: In Table Tennis, India’s top-ranked pair of Ayhika Mukherjee and Sutirtha Mukherjee have scripted history by clinching the first-ever medal for the country in Women’s Doubles of Asian Championships 2024 at Astana in Kazakhstan.The Indian pair settled for the bronze medal after losing to the Japanese combination of Miwa Harimoto and Miyuu Kihara 0-3 in the semi-finals.Miwa Harimoto was part of Japan’s Paris 2024 Olympics silver-medal team, and Miyuu Kihara is a three-time World Championships medal winner.This was the first medal for the Indian women’s doubles team in the Asian Table Tennis Championships since 1972.India ended the 27th Asian Table Tennis Championships with three bronze medals. The Indian men’s and women’s teams won a bronze medal in their respective events.

 

2. India to hoist Junior World Cup of shooting in 2025: The International Shooting Sport Federation (ISSF) President Luciano Rossi confirmed that India will host the ISSF Junior World Cup in 2025.India continues to be a significant force in the world of shooting not only with its talented athletes but also through its commitment to expanding the sport’s infrastructure and reach.Kalikesh Narayan Singh Deo, president of the National Rifle Association of India (NRAI) was present during the occasion.

 

3. Harmanpreet Singh emerges as most expensive player in Hockey auction: India captain Harmanpreet Singh became the most expensive player on day one of the Hockey India League auction, with Soorma Hockey Club snapping the star drag-flicker for 78 lakh rupees.Abhishek became the second-most expensive buy, acquired by Shrachi Rarh Bengal Tigers for 72 lakh rupees, while Hardik Singh went to UP Rudras for 70 lakh rupees.

The league will get underway on 28th December this year.

 

4. India beat Taipei to win women’s single Bendigo International Challenge Badminton Tournament: India’s Tanya Hemanth beat Tung Ciou-Tong of Taipei in straight games to win the women’s singles title at the Bendigo International Challenge badminton tournament in Bendigo, Australia.The second-seeded Tanya beat her opponent Tung, seeded sixth in the tournament, 21-17, 21-17 in the women’s singles final.This was 21-year-old Tanya’s third international title and first of the year. She finished runner-up at the Polish Open and Azerbaijan International in 2024. She won titles at the India International in 2022 and Iran Fajr International in 2023.In the men’s doubles final, the top-seeded Indian pair of Hariharan Amsakarunan and Ruban Kumar Rethinasabapathi lost to the Taipei duo of Chen Cheng Kuan and Po Li-Wei 17-21, 14-2.

 

AWARDS AND HONOURS

 

1. Daron Acemoglu, Simon Johnson, James Robinson win Economics Nobel Prize 2024: The Royal Swedish Academy of Sciences announced that the 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded to economists Daron Acemoglu, Simon Johnson, and James A Robinson.The trio has been recognised “for studies of how institutions are formed and affect prosperity.”The laureates’ research examines how different political and economic systems, particularly those established during colonialism, have had long-lasting effects on the prosperity of nations. Their work has developed theoretical frameworks to explain why certain institutions endure over time and how they can evolve, shedding light on the persistent income gaps, between countries, the academy said in awarding the prize.Daron Acemoglu, a Turkish American economist of Armenian heritage, has been a professor at the Massachusetts Institute of Technology (MIT) since 1993. His research spans multiple fields, including political economy, macroeconomics, and development economics.

 

 

Daily GK Update- 14th Oct, 2024

 NATIONAL UPDATES:

 

1. Union Government releases 15th Finance Commission Grants for Rural Local Bodies in Andhra Pradesh and Rajasthan: The Union Government has released the first instalment of the 15th Finance Commission grants for the FY 2024–25 to the Rural Local Bodies (RLBs) in Andhra Pradesh and Rajasthan.Andhra Pradesh has received untied grants amounting to ₹395.5091 crores and tied grants totalling ₹593.2639 crores.These funds are for duly elected 9 eligible District Panchayats, 615 eligible Block Panchayats, and 12,853 eligible Gram Panchayats in Andhra Pradesh.While in Rajasthan, untied grants of ₹507.1177 crores and tied grants of ₹760.6769 crores have been released for the duly elected 22 eligible District Panchayats, 287 eligible Block Panchayats and 9,068 eligible Gram Panchayat in the state.

 

2. Noel Tata succeeds Ratan Tata, appointed chairman of Tata Trusts: Noel Tata has been named the chairman of Tata Trusts, the charitable division of the Tata Group. He is the son of Naval H. Tata and Simone N. Tata.Noel takes over from his half-brother, Ratan Tata, who passed away earlier this week at the age of 86.Noel Tata is currently a trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust, which collectively own a substantial 66% stake in Tata Sons, the holding company of the diversified Tata Group.Noel N. Tata is the Chairman and Non-Executive Director of Tata International Limited and has been associated with the Tata group for 40 years.He holds various board positions within the group, including Chairman of Trent, Voltas, and Tata Investment Corporation, as well as Vice Chairman of Tata Steel and Titan Company Limited.

 

3. New Aadhaar Rules Cause Enrollment Issues for Overseas Citizens: The new regulations require anyone wanting to enroll for Aadhaar to prove they have lived in India for the required 182 days. This rule applies to OCIs, foreign nationals, and other applicants. The goal is to ensure that only people with genuine residency in India get an Aadhaar number, helping to prevent fraudulent applications. The verification of residency is now handled by Revenue officials, similar to how passport checks are done. This process involves stricter checks, which has slowed down the enrolment process. Many applications are delayed or even rejected as officials carefully verify whether applicants meet the new residency requirements.

 

INTERNATIONAL UPDATES:

 

1. PM Modi attended the 19th East Asia Summit (EAS): Prime Minister Narendra Modi took part in the 19th East Asia Summit (EAS) held in Vientiane, Laos PDR.The Prime Minister emphasized the important part that ASEAN (Association of Southeast Asian Nations) plays in shaping the future of the Indo-Pacific.He mentioned India’s vision for the region, known as the Pacific Vision, which focuses on collaboration with countries like the Quad nations (India, Australia, Japan, and the United States) to promote peace and cooperation in the region.

2. 12 October – World Arthritis Day: World Arthritis Day is observed annually on October 12th to raise awareness about arthritis, a condition affecting millions worldwide. Arthritis primarily affects the joints, causing pain, stiffness, and swelling. Joint pain is a common symptom of arthritis due to the inflammation or degradation of the cartilage that cushions joints.While there is no cure for arthritis, exercise plays a significant role in reducing joint pain by strengthening the muscles around the joints, improving flexibility, and maintaining overall mobility.

 

3. US-India Leadership Summit 2024: The US-India Strategic Partnership Forum (USISPF) is a non-profit organization that works to strengthen the partnership between the United States and India. It helps bring together leaders from both countries to collaborate on key areas like business, technology, defence, and energy. The event will bring together Indian government officials, USISPF leaders, and business leaders from both countries. Attendees include Indian cabinet ministers and USISPF’s Board members, including leaders from global companies, investors, and venture capitalists.

 

OTHER UPDATES:

DEFENCE

 

1. First phase of 2024 Army Commanders’ Conference concluded in Gangtok: The first phase of the Second Army Commanders’ Conference for the year 2024 has been organised in a hybrid mode at Gangtok in Sikkim.The two-day conference will serve as a forum for Senior Commanders to review current operational preparedness, deliberate on critical strategies and outline future directives.During the conference, discussions will focus on critical national security issues and strategic aspects aimed at sharpening the Indian Army’s warfighting capabilities.The major issues to be deliberated during the session include the growing importance of a multi-pronged national security strategy that incorporates integration of Civil-Military Fusion and the Diplomatic, Information, Military, and Economic (DIME) pillars to counter contemporary threats.The second phase of the Army Commanders’ Conference will be held in Delhi on the 28th and 29th of October.

 

2. Indian Naval Ship Shardul arrives in UAE: The Indian Naval Ship Shardul, part of the First Training Squadron of the Indian Navy, arrived at Port Mina Rashid, Dubai, UAE, as part of its Long Range Training Deployment.This visit marks a significant milestone in strengthening maritime cooperation and fostering mutual understanding between India and UAE.Shardul is scheduled to engage in various activities designed to enhance maritime security and interoperability. These include harbour interactions and joint exercises including visit to the Naval Officers Training Academy and UAE Naval Ship.

 

3. China Conducts Military Drills Near Taiwan Amid Tensions: On October 14, 2024, China held large military exercises around Taiwan and nearby islands. These drills were a warning to Taiwan because its president, Lai Ching-te, refused to say that Taiwan is part of China. The exercises were meant to show China’s strength and its displeasure with Taiwan’s independence stance. China sees Taiwan as a part of its territory and strongly opposes any moves toward Taiwanese independence. The Chinese Defence Ministry said the military exercises were a necessary response to Taiwan’s leadership. The drills involved China’s navy, air force, and missile units, showing full military power. Senior Captain Li Xi, a Chinese official, stated that this was a strong message to anyone supporting Taiwan’s desire to remain separate from China. China wanted to make clear that it was determined to protect its claim over Taiwan.

 

4. Indian Naval Ships Enhance Maritime Cooperation in Bahrain: The Indian Naval Ship (INS) Tir and Indian Coast Guard Ship (ICGS) Veera arrived in Manama, Bahrain, as part of a Long Range Training Deployment in the Persian Gulf. This visit highlights India’s dedication to improving maritime security and cooperation in the region. Indian Navy trainees will visit the Royal Bahrain Naval Forces’ training centers. This will help both sides learn from each other and is part of India’s involvement with the Combined Maritime Forces (CMF), a partnership that promotes regional security.

 

BANKING AND FINANCE

 

1. Net direct tax collection grows 18% to ₹11.25 lakh crore: Net direct tax collection grew 18.3% to about ₹11.25 lakh crore as of October 10 this fiscal, government data showed.The mop-up includes personal income tax collection of ₹5.98 lakh crore and corporate tax collection of ₹4.94 lakh crore.Securities Transaction Tax (STT) stood at ₹30,630 crore, while other taxes (including equalisation levy and gift tax) earned ₹2,150 crore.The income tax department had collected ₹9.51 lakh crore during the same period a year ago.Refunds worth Rs 2.31 trillion were issued between April 1 and October 10, a growth of 46 percent.On a gross basis, direct tax collection grew 22.3 percent to Rs 13.57 lakh crore. The collection includes personal income tax of Rs 7.13 trillion and corporate tax of Rs 6.11 lakh crore.

 

AWARDS AND HONOURS

 

1. Awarded about Nihon Hidankyo: Nihon Hidankyo, founded in 1956, is a group that brings together atomic bomb survivors from across Japan.The full name of the organization translates to “Japan Confederation of A- and H-Bomb Sufferers Organizations.” Their mission is to advocate for nuclear disarmament and protect the rights of Hibakusha.The group works to educate people about the dangers of nuclear war and collects stories from survivors to preserve their experiences.Nihon Hidankyo also collaborates with international peace organizations to promote a global movement against nuclear weapons.