Daily GK Update- 20th Oct, 2024

 NATIONAL UPDATES:

 

1. Union Minister Dr. S. Jaishankar inaugurates second edition of Art Exhibition ‘Silent Conversation: From Margins to the Centre’: Union Minister for External Affairs, S. Jaishankar inaugurated the second edition of the art exhibition “Silent Conversation: From Margins to the Centre” in New Delhi. The four-day exhibition has been organized by the National Tiger Conservation Authority in collaboration with the Sankala Foundation, the National Human Rights Commission and the International Big Cat Alliance.

 

2. On the occasion, a book titled “Hidden Treasures: India’s Heritage in Tiger Reserves” and a magazine called “Big Cats” were also released. A cultural program was also organized in the evening, that was attended by Dr. Gajendra Singh Shekhawat, Union Minister for Culture and Tourism.

 

3. Ministry of Rural Development signs MoU with ten banks to promote individual financing for higher order enterprises: Deendayal Antyodaya Yojana-National Rural Livelihood Mission (DAY NRLM) under the Ministry of Rural Development signed a MoU with nine Public Sector Banks and one Private Bank.These Banks are Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Indian Bank, Indian Overseas Bank, Punjab National Bank, UCO Bank and, IDBI Bank Limited.These Banks have designed specific products for financing individual women entrepreneurs under the fold of DAY-NRLM. The loan products so designed will help women avail bigger ticket size loans for scaling up their enterprises. This move is in lines with the realisation of goal of making Lakhpati Didi, as announced by the Prime Minister Shri Narendra Modi

 

4. Manipur: Mera Hou Chongba festival observed to foster unity between hill & valley indigenous communities: The festival to strengthen the cordial bond between the indigenous communities living in the hills and the valley people of Manipur, the Mera Hou Chongba Festival 2024, was observed in Imphal.The main event was held at the holy site, Kangla, in Imphal, where leaders of Indigenous communities from various hill districts joined the valley people in observing the festival, which symbolizes harmony and cultural exchange.The Mera Hou Chongba is the only festival where both hill and valley indigenous communities are observed together in the state.

 

5. Railways to cut advance booking period from 120 days to 60: The Railway Board has reduced the time limit for advance booking of trains from 120 days to 60 days with the new time limit set to take effect from November 1.The Railways clarified that bookings made under the current 120-day ARP before October 31 will remain valid.It also stated that any cancellations for bookings made beyond the new 60-day ARP will still be allowed.The revised changes do not apply to certain daytime express trains, such as the Taj Express and Gomti Express, which have different advance reservation limits.Additionally, the 365-day advance booking option for foreign tourists will remain unchanged.The advanced train ticket booking system is a feature that allows passengers to plan their journeys conveniently. Previously, the Railways allowed this facility up to 120 days, or four months, in advance of the journey date.

 

6. Chief Justice DY Chandrachud inaugurates AROHA-2024 Conference: Chief Justice of India DY Chandrachud has inaugurated the international conference Advancements of Research and Global Opportunities for Holistic Ayurveda (AROHA-2024) in New Delhi.The three-day event primarily aims to position Ayurveda as a key pillar of global health and wellness.AROHA 2024 has been organized by the All India Institute of Ayurveda, New Delhi, an autonomous institute under the Union Ministry of Ayush.The theme of the AROHA 2024 is Advancements in Research and Global Opportunities for Holistic Ayurveda.Amongst the foreign countries, delegates from Japan, Colombia, Australia, Germany, Sri Lanka, and Argentina are participated.

 

INTERNATIONAL UPDATES:

 

1. President Murmu conferred Honorary Doctorate in Algeria: President Droupadi Murmu was awarded an Honorary Doctorate in Political Science by Sidi Abdellah Science and Technology Pole University in Algiers.The Doctorate was presented to Murmu by Kamal Baddari, Algeria’s Minister of Higher Education and Scientific Research.

 

2. India and Mauritania sign four MoUs during President Murmu’s visit: India and Mauritania signed four MoUs to strengthen and deepen their bilateral ties. The MoUs were signed during President Droupadi Murmu’s visit to Mauritania.It is the first visit to Mauritania by an Indian leader at the highest level since the African nation won independence in 1960.Four MoUs were signed on the occasion between the two countries;These agreements mark a significant boost to India-Mauritania ties, which have been growing stronger since the establishment of India’s embassy in Nouakchott in June 2021.

 

3. Mauritius, first recipient of Rupee loan under IDEAS of GoI: India has extended a new Line of Credit for INR 487.60 Crores to the Government of Mauritius for financing of a water pipeline replacement project.This is the first-ever ₹ denominated Line of Credit to have been extended by India for project financing to any country under the Indian Development and Economic Assistance Scheme (IDEAS).The Rs 487.60 crore line of credit to the government of Mauritius for financing a water project in Mauritius will be provided through the State Bank of India (SBI).The loan amount will be used to replace around 100 km of obsolete water pipeline in Mauritius.

 

4. Om Birla addresses the 149th Inter-Parliamentary Union in Geneva: Lok Sabha Speaker Om Birla addressed the 149th Assembly of the Inter-Parliamentary Union (IPU) and emphasised the need for multilateralism in the world.The 149th Assembly of the Inter-Parliamentary Union was held at the IPUs headquarters in Geneva, Switzerland. The IPU is the global organisation of the National Parliaments.The Indian delegation led by Om Birla included Rajya Sabha Deputy Chairman Harivansh Singh, the Secretary General of both Lok Sabha and the Rajya Sabha and various other Members of Parliament.The theme of the 149th Assembly of the Inter-Parliamentary Union was Harnessing Science, Technology and Innovation (STI) for a more peaceful and sustainable future.

 

5. S Jaishnakar attends 23rd SCO Council of Heads of Government meeting: External Affairs Minister Dr S Jaishanakar represented India at the 23rd Meeting of the Shanghai Cooperation Organisations (SCO) Council of Heads of Government, held in Islamabad, Pakistan.The two-day meeting was hosted by the Pakistani Prime Minister, Shahbaz Sharif.This was the first visit of an Indian minister to Pakistan after the 2015 visit of the then External Affairs Minister Sushma Swaraj.Sushma Swaraj visited Islamabad, Pakistan, in December 2015 to attend the Heart of Asia Conference.

 

OTHER UPDATES:

DEFENCE

 

1. 2nd edition of ‘Sagar Kavach’ exercise 2024 held by Indian Coast Guard: The Indian Coast Guard successfully conducted its 2nd edition of the coastal security exercise ‘Sagar Kavach’ across Gujarat and the Union Territory of Daman & Diu coasts.The Indian Coast Guard held its first ‘Sagar Kavach’ exercise of 2024 on 11 and 12 July 2024 along the coast of Andhra Pradesh.The 2nd edition of the ‘Sagar Kavach’ coastal security exercise was coordinated by the Indian Coast Guard’s North West Regional Headquarters in Gandhinagar, Gujarat.All the agencies responsible for the coastal security of India- State Police, Indian Navy, Marine Police, Border Security Force (BSF), National Security Guard (NSG), Gujarat Maritime Board (GMB), Intelligence Bureau (IB), and the Port authorities, participated in the exercise.

DG of Indian Coast Guard – DG Paramesh Sivamani

 

2. 20 October – National Solidarity Day: India commemorates National Solidarity Day every year on October 20 to honour the soldiers who fought during the Sino-Indian War of 1962.This significant day marks the national integrity displayed by India in its conflict with China.The Sino-Indian War, also known as the China–India War, occurred from October to November 1962. The conflict emerged from a series of border skirmishes and territorial disputes.On October 20, 1962, China launched a devastating attack, resulting in India’s defeat and territorial losses, notably Aksai Chin.In 1966, a committee elected by then Prime Minister Indira Gandhi established October 20 as National Solidarity Day to honour soldiers and their families who sacrificed in conflicts.

 

SPORTS 

 

1. Sourav Ganguly named as Director of Cricket at JSW Sports: Former Indian captain and BCCI (Board of Control for Cricket in India) chief Saurav Ganguly has been named as director of cricket of Jindal South West (JSW) Sports.In this role, Ganguly will oversee all cricketing operations for the organization, including its key franchises like Delhi Capitals’ men’s and women’s IPL and WPL teams, and Pretoria Capitals, which competes in the SA20 League.For the next two years, the GMR Group will oversee the Delhi Capitals’ operations in the IPL, while JSW Sports will manage the team’s participation in the WPL. In 2027, the roles will reverse, with JSW Sports taking over the management of the men’s team.

 

AWARDS AND HONOURS

 

2. 18-year-old Nikita Porwal crowned Femina Miss India 2024: Nikita Porwal from Madhya Pradesh was crowned Femina Miss India 2024 in Mumbai.The dazzling event held at Famous Studios, marked the 60th edition of the beauty pageant.She was followed at the second position by Rekha Pandayy who represented Union Territories and the second runner-up was Gujarat’s Ayushi Dholakia.The 18-year-old actor started her career as a TV anchor, and she was crowned by last year’s winner Nandini Gupta.Neha Dhupia put the Miss India sash on her. Despite being part of a movie, there are many people who still don’t know much about Nikita Porwal.Nikita succeeds the earlier titleholder, Nandini Gupta from Rajasthan, who held the title since 2023.

 

 

Daily GK Update- 19th Oct, 2024

 NATIONAL UPDATES:

 

What are ‘Forever Chemicals’?: A recent study has found toxic ‘Forever Chemicals’ in drinking water worldwide. These chemicals, known as perfluoroalkyl substances (PFAS), were detected in both tap and bottled water in major cities across the UK and China. Researchers from the University of Birmingham and Hainan University published their findings in ACS ES&T Water. PFAS are synthetic chemicals that do not break down easily in the environment. They are used in many products, including non-stick cookware, water-repellent clothing, and stain-resistant fabrics. Some PFAS have been banned, but many are still in use. These chemicals can enter the body through inhalation, ingestion, or skin absorption. Health effects linked to PFAS exposure include weakened immune response, liver damage, lower birth weight, and increased cancer risk.

 

Smart Insulin Developed for Diabetes Treatment: Diabetes affects over 500 million people globally. It leads to nearly 7 million deaths annually. The disease is marked by high blood sugar levels. Recently, scientists announced a breakthrough in diabetes treatment. They developed a smart insulin that reacts in real time to blood sugar changes. This research was published in the journal Nature. oth types are managed with synthetic insulin. However, insulin management is complex. Blood glucose levels fluctuate throughout the day. Too much insulin can cause dangerously low blood sugar levels. Patients must frequently monitor their blood sugar and adjust their insulin doses.

 

Abhyuday Jindal, President of Indian Chamber of Commerce: Jindal’s plans align with India’s big goal of becoming a $35 trillion economy by the year 2047. To achieve this, he believes in building a strong and resilient economy, focusing on strategic actions to reach this target. Jindal has a degree in economics and business management from Boston University, which highlights his strong academic foundation for leading the ICC through today’s complex economic challenges. The Indian Chamber of Commerce (ICC) is a key business organization in India. It works closely with both the central and state governments to represent the interests of industries and address their specific needs. Since its founding, the ICC has played a vital role in promoting dialogue between businesses and the government to foster economic growth.

 

Nayab Singh Saini Takes Oath as Haryana CM: Nayab Singh Saini has been sworn in as the Chief Minister of Haryana for the second time. This confirms that the Bharatiya Janata Party (BJP) will continue to lead the state for a third straight term. The ceremony took place at Panchkula’s Parade Ground and was attended by important political leaders, including Prime Minister Narendra Modi. This event highlights the BJP’s strong position as they prepare for upcoming elections in Maharashtra and Jharkhand. In the recent assembly elections held on October 5, 2024, the BJP had a fantastic success, winning 48 out of 90 seats. The Congress party came in second with 37 seats, while other regional parties struggled, leading to a significant loss for the Indian National Lok Dal (INLD).

INTERNATIONAL UPDATES:

 

What is fourth global coral bleaching event (GCBE4)?: The fourth global coral bleaching event (GCBE4) began in January 2023. It is the most extensive and rapid coral bleaching event recorded. According to National Oceanic and Atmospheric Administration (NOAA), 99.9% of coral reefs in the Atlantic Ocean have experienced heat stress. This event has surpassed previous bleaching events from 2014 to 2017 by over 11%.The current event has unfolded in less time than GCBE3, which lasted three years and affected 65.7% of coral reefs. GCBE4 has impacted at least 77% of global reef areas in just 20 months. This rapid increase in bleaching is alarming and unprecedented.

 

Challenges of Extraditing Indian Criminals from Nepal: Many criminals from India seek refuge in Nepal after committing crimes. But why is this the case, and why is it so difficult to apprehend them? Despite an extradition treaty between India and Nepal, the process remains complex and ineffective. Extraditing criminals from Nepal is problematic due to the outdated extradition treaty between the two nations, signed in 1953. The treaty is weak and ineffective in handling modern criminal cases. Criminals know that once they reach Nepal, it becomes very difficult for Indian authorities to bring them back due to the lengthy legal procedures involved.

 

16th BRICS Summit: Prime Minister Narendra Modi is scheduled to visit Russia from October 22-23 to attend the 16th BRICS Summit in Kazan, at the invitation of President Vladimir Putin. This will be Modi’s second trip to Russia in 2023, following a previous meeting in Moscow in July. The BRICS Summit is a meeting of five major countries: Brazil, Russia, India, China, and South Africa. This year, new members, including Egypt, Ethiopia, Iran, and the UAE, have joined. The summit’s main goal is to strengthen cooperation among these nations, especially to promote global development and security.

OTHER UPDATES:

DEFENCE

 

Exercise Swavlamban Shakti: The Indian Army’s Sudarshan Chakra Corps is conducting a major exercise called “Exercise SWAVLAMBAN SHAKTI” at the Babina Field Firing Ranges near Jhansi. This exercise, which runs until October 22, aims to improve the Army’s combat abilities by using new and advanced technologies. Around 1,800 soldiers are taking part in the exercise, supported by 210 armoured vehicles (such as tanks), 50 special-purpose vehicles, and aircraft. This large number of participants and equipment shows how important these modern technologies are for preparing the Army.

 

 

 

 

SCIENCE AND TECHNOLOGY

 

New Road Safety Sensor Prototype Developed by Researchers: Researchers at the Centre for Nano and Soft Matter Sciences (CeNS) have created a special road safety sensor to improve safety at dangerous road curves where accidents often happen. This new sensor is made from a unique material that can both sense pressure and generate energy. The sensor uses a new kind of material called a polymer nanocomposite. This material can generate energy using the piezoelectric effect, which means it creates electricity when pressure is applied. The sensor is designed to be placed on movable ramps 100 meters before risky curves, giving oncoming vehicles visual signals, like lights, to alert them.

 

What is the Moonlight programme?: The European Space Agency (ESA) has introduced a new programme called the Moonlight Lunar Communication and Navigation Services (LCNS). It was announced at the International Astronautical Congress and is focused on building important infrastructure for future missions to the Moon over the next 20 years. The Moonlight programme aims to create a network of around five satellites that will orbit the Moon. These satellites will help spacecraft land accurately, enable fast Communication, and assist with movement on the Moon’s surface. The system will support more than 400 planned Moon missions by allowing smooth communication and data transfer between Earth and the Moon.

 

Study Highlights Gut-Brain Link in Parkinson’s Disease: Recent studies suggest a “gut-first hypothesis” for Parkinson’s Disease (PD), which means that problems in the gastrointestinal (GI) system might play a key role in causing and worsening the disease. One important study, published in JAMA Network Open, found that people who had damage to their upper GI tract were 76% more likely to develop Parkinson’s. Many Parkinson’s patients notice GI problems, especially constipation, long before they have trouble moving. This suggests that the disease may begin in the gut. The dopaminergic neurons in the gut are also important for keeping the brain healthy, which further strengthens the connection between gut and brain health.

 

BANKING AND FINANCE

 

Hong Kong Regains Title of World’s Freest Economy: The report also indicates that there has been a global decline in economic freedom for the third year in a row. This suggests a worrying trend away from the progress seen over the past decade. The Fraser Institute has been ranking economies in this way since 1970, highlighting changes in global economic policies over time.

The Hong Kong government has welcomed this new ranking and stated that it is committed to upholding the rule of law, despite growing concerns about outside influences on how it governs.

Hong Kong is known for having the longest escalator system in the world, which stretches 800 meters. It also boasts more skyscrapers than any other city, with over 1,500 buildings. Even though it is a small area, it is one of the most densely populated places in the world, with more than 7 million residents. The city has a unique culture that blends British colonial history with Chinese traditions, often described as “East meets West.” 

 

 

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.