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.

 

 

 

 

 

 

Daily GK Update- 13th Oct, 2024

 NATIONAL UPDATES:

 

1. MNRE notifies Scheme Guidelines for ₹500 crore ‘Innovative Projects’ component under PM-Surya Ghar Yojana: Union Ministry of New and Renewable Energy has notified Scheme Guidelines for implementation of ‘Innovative Projects’ under PM-Surya Ghar: Muft Bijli Yojana.

Under the scheme component ‘Innovative Projects’, ₹500 crores have been earmarked to encourage advancements in rooftop solar technologies, business models, and integration techniques.The component seeks to identify and support startups, institutions, and industries in piloting new concepts, focusing on emerging solutions like blockchain-based peer-to-peer solar trading, smart materials, and rooftop solar integrated with electric vehicles and battery storage.To drive this forward, MNRE will invite proposals and encourage joint research and international collaborations. National Institute of Solar Energy (NISE) will serve as the Scheme Implementation Agency (SIA) for the Innovative Projects Component. Selected projects will receive financial assistance of up to 60% of the project cost or ₹30 crore, whichever is lower.

 

2. 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, and12,853 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.

 

3. Telangana appoints Commission for Scheduled Castes Sub-Classification: The Telangana state government has launched a new effort to study the sub-classification of Scheduled Castes (SCs) for reservation benefits. This is being done to ensure that the different groups within SCs get a fair share of the benefits offered by the government.This move follows the recommendations made by a Cabinet sub-committee, which looked at ways to ensure that the advantages of the reservation system are fairly shared among all SC sub-groups.The government set up this one-person Commission of Inquiry under the Commissions of Inquiry Act, 1952. Justice Shameem Akhtar has been given the task of leading this investigation.The commission has been given a time limit of 60 days from the time the commission officially starts its work to complete the inquiry.

 

4. Srinivas gets additional charge as CEO of public procurement portal GeM: The government has given L Satya Srinivas, additional secretary in Department of Commerce, the additional charge of CEO of public procurement portal GeM.The additional charge was given as the last CEO of the Government e Marketplace (GeM) P K Singh has been appointed as secretary in the renewable energy ministry.Srinivas is an officer of the 1991 batch of the Indian Revenue Service (Customs & Indirect Taxes).The government has given L Satya Srinivas, Additional Secretary in the Department of Commerce, the additional charge of CEO of public procurement portal GeM.The GeM portal was launched on August 9, 2016, for online purchases of goods and services by all central government ministries and departments.

 

INTERNATIONAL UPDATES:

 

1. WTO cuts 2025 world merchandise trade growth forecast to 3% from 3.3%: The World Trade Organisation (WTO) has reduced its growth forecast for the volume of global merchandise trade in 2025 to 3 per cent from 3.3 per cent, amid escalating conflict in the West Asia region, which has blocked the crucial Red Sea shipping route for nearly a year.For 2024, the WTO revised upwards its forecast for merchandise trade growth to 2.7 per cent, up from the previous estimate of 2.6 per cent.The trade body warned that an intensification of the conflict in West Asia could have adverse consequences for global and regional trade flows, with effects also being felt in other regions. These may include “further disruptions” to shipping and rising energy prices due to higher risk premiums.

 

2. 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.

 

3. 12 October 2024 – World Migratory Bird Day: World Migratory Bird Day Celebrated in the second Saturdays of May and October. This year the dates are May 11 and October 12, 2024.

The two days of World Migratory Bird Day serve as a means to reflect the cyclical nature of bird migration, as well as the varying peak migration periods in the northern and southern hemispheres.World Migratory Bird Day is a global awareness raising campaign that aims to highlights the need for international cooperation to conserve migratory birds and concerns related to decreasing populations of insects.Theme – Protect Insects, Protect Birds

 

4. 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.

 

5. 10 October 2024 – World Sight Day: World Sight Day is observed every year on the second Thursday of October. This year is falls on 10 October. Objective – To raise awareness about the preventive measures to avoid blindness, promote eye health and ensure equitable access to quality vision care.Theme 2024 – Children, Love Your EyesWorld Sight Day was started as part of the “Sight First” campaign which was organised by the Lions Club International Foundation in 1988.The World Health Organisation (WHO) partnered with the International Agency for the Prevention of Blindness (IAPB) in 1999 to officially establish World Sight Day, and it was first observed on October 12, 2000.

 

OTHER UPDATES:

DEFENCE

 

1. Defence Minister virtually dedicates to the nation 75 BRO infrastructure projects, worth Rs 2,236 crore: Defence Minister Rajnath Singh has virtually dedicated to the nation 75 infrastructure projects of Border Roads Organisation (BRO) at Rs 2,236 croThese projects – 22 roads, 51 bridges & two others – are spread across 11 States/Union Territories. 19 are in Jammu & Kashmir, 18 in Arunachal Pradesh, 11 in Ladakh, 9 in Uttarakhand, 6 in Sikkim, 5 in Himachal Pradesh, 2 each in West Bengal & Rajasthan, and 1 each in Nagaland, Mizoram, and Andaman & Nicobar Islands.Singh also inaugurated the projects from the Headquarters, of Trishakti Corps in Sukna, West Bengal. One of the main highlights was the inauguration of the Kupup-Sherathang Road in Sikkim, which serves as a crucial link between Jawahar Lal Nehru Marg and Zuluk axis.With the inauguration of these 75 projects, BRO has completed a total of 111 infrastructure projects in 2024 at an overall cost of Rs 3,751 crore which includes 36 projects worth Rs 1,508 crore, such as the state-of-the-art Sela Tunnel in Arunachal Pradesh, inaugurated by Prime Minister earlier.

 

2. 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.

 

3. 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.

 

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. The government has budgeted to collect Rs 22.07 trillion in the current fiscal from direct taxes.

 

AWARDS AND HONOURS

 

1. Japanese organisation Nihon Hidankyo wins 2024 Nobel Peace Prize for Disarmament: Nobel Peace Prize was awarded to Nihon Hidankyo, a Japanese organization made up of survivors of the atomic bombings, known as the Hibakusha.This prize highlights the critical role these survivors have played in raising awareness about the devastating impact of nuclear weapons and their ongoing work to create a world free from nuclear arms. All Nobel Prizes are awarded in Stockholm, Sweden, except for the Nobel Peace Prize, which is awarded in Oslo, Norway. The founder of the Nobel Prize, Alfred Nobel, was a Swedish cosmopolitan.

 

 

Daily GK Update- 12th Oct, 2024

 NATIONAL UPDATES:

 

1. PM Narendra Modi’s ‘Mann Ki Baat’ Completes 10 Years: Prime Minister Narendra Modi’s popular radio programme Mann Ki Baat has completed ten years on 3 October. It was on this day in 2014 that Mr Modi started sharing his thoughts through the programme on Akashvani. In the ten-year journey of the programme, the Prime Minister has touched on significant social, cultural, environmental, and behavioural issues that have created a positive impact in the country. Mann Ki Baat has become an important platform for interaction between the Prime Minister and the citizens.

 

2. Bihar to develop Kaimur Wildlife Sanctuary as tiger reserve, gets Centre’s nod: The Bihar government will develop the Kaimur Wildlife Sanctuary (KWLS) as the state’s second tiger reserve. The Valmiki Tiger Reserve (VTR), which is the state’s only national park, has reached its capacity, and now the state government was finalising modalities for translocating the big cats to KWLS. The Kaimur Wildlife Sanctuary is spread over an area of 1,504.96 sq km. The KWLS is bounded in the north by Bhojpur, Buxar and parts of UP’s Ghazipur, in the south by the districts of Palamu and Garhwa of Jharkhand and in the west by the districts of Sonabhadra and Varanasi of UP. On its east are the Aurangabad and Jehanabad districts of Bihar. The sanctuary supports sizable populations of leopard, sloth bear, chital, sambar, wild pig, nilgai, and chowsingha, besides about 70 species of birds.

 

3. RBI approves appointment of Partha Sengupta as MD & CEO of Bandhan Bank: The Reserve Bank of India (RBI) has approved appointment of former Indian Overseas Bank MD & CEO Partha Pratim Sengupta as MD & CEO of Bandhan Bank for a period of three years. Sengupta, a career banker, was groomed at State Bank of India and rose through the ranks to the role of deputy managing director and chief credit officer, before moving to IOB to head it for around two years till December 2022.

 

INTERNATIONAL UPDATES:

 

1. India launches ‘Study in India’ campaign at International Education Show in Sharjah: India has officially launched its ‘Study in India’ campaign at the 20th International Education Show in Sharjah, marking a significant push to attract international students to its universities. Organized by EdCIL, a Miniratna company under the Ministry of Education, the campaign seeks to position India as a leading global education hub. The India Pavilion at Expo Centre Sharjah was inaugurated by Ahmed Mohamed Obaid Al Naboodah of the Sharjah Chamber of Commerce and Industry and Shri Yatin Patil, Deputy Consul General of India in Dubai. The ‘Study in India’ programme showcases over 590 Indian universities and institutions, offering a variety of courses and exclusive benefits such as fee waivers and scholarships for international students.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Navy Collaborates with Bajaj Allianz Life Insurance to Provide Insurance for Naval Civilians: The Indian Navy has signed an MoU with Bajaj Allianz Life Insurance to offer life insurance options, including term insurance, tailored specifically for Naval Civilians, thereby providing essential financial security for their families. The year 2024 has been declared the “Year of Naval Civilians” by the Indian Navy, underscoring its commitment to improving the work environment and overall quality of life for civilian staff. This new initiative aligns with the Navy’s focus on fostering inclusivity, instilling a sense of belonging, and promoting welfare measures to support its civilian workforce.

 

SPORTS 

 

1. Indian Men & Women’s team wins Bronze at Asian Table Tennis Championships 2024: The Indian men’s and women’s teams have won bronze medals in their respective events at the 27th Asian Table Tennis Championships 2024, held in Astana, Kazakhstan. This was the first medal for the women’s team in the championships after 1960, when they won bronze at Bombay, while for the men’s team, it was their third consecutive bronze medal.

 

2. Bronze for the Indian Men’s Team: The India men’s team of Sharath Kamal, Manav Thakkar and Harmeet Desai lost their semi-final match against the Chinese Taipei (Taiwan) 3-0 to settle for a bronze medal in the Championships. This was the third consecutive bronze medal for the India team in the Championships. The Indian team won a bronze medal at the 2021 (Doha, Qatar) and 2023 (Pyeongchang, South Korea) editions of the Asian Table Tennis Championship. Earlier, the Indian team defeated host Kazakhstan’s team 3-1 in the quarter-finals to reach the semi-finals.

 

3. Bronze for the Indian Women’s Team: The Indian women’s Table Tennis team of Ayhika Mukherjee, Manika Batra, and Sutirtha Mukherjee lost their semi-final match against the eventual winner, Japan, 3-1. This was the first medal for the Indian women’s team at the Asian Table Tennis Championships since the Asian Table Tennis Union (ATTU) started organising the competition in 1972. The Asian Table Tennis Championships were earlier organised by the Table Tennis Federation of Asia (TTFA). The Indian team won a bronze medal at the 1960 Championships organised by TTFA. The Japanese team won the gold medal in the women’s team event by defeating China in the final.

 

4. Uttarakhand to host 38th National Games in 2025: The 38th edition of the National Games (Summer & Winter) will be held in Uttarakhand from January 28 to February 14, 2025, the Indian Olympic Association announced. The 37th National Games was held in Goa from 25 September to 9 November 2023. Maharashtra claimed the top spot with a whopping 228 medals, including 80 gold. This will be the first time Winter Games are held outside Jammu & Kashmir and Ladakh. The National Games, organized by the Indian Olympic Association (IOA) , aim to identify talent for the Summer Olympics. The first National Games were held in 1924 in Lahore, originally called the All-India Olympic Games.

 

BANKING AND FINANCE

 

1. World Bank ups India’s growth forecast for FY25 to 7% due to rising private consumption: The World Bank upped India’s economic growth forecast for the current fiscal year, ending in March 2025, to 7% year-on-year, up from April’s estimate of 6.6%, helped by a rebound in agricultural output and increased private consumption. The RBI’s rate-setting panel on Wednesday retained its real Gross Domestic Product (GDP) forecast at 7.2 per cent for FY25. With this, the RBI has now pegged growth rate for Q2 at 7% (reduced from 7.2%), Q3 at 7.4% (up from 7.3%%) and Q4 at 7.4%. For Q1 FY26, the growth rate was kept at 7.3%.

 

2. UPI transactions volume increases 52% to 78.97 bn in Jan-Jun: Report: Instant payment system Unified Payment Interface (UPI) transaction volumes recorded a 52 percent year-on-year surge to 78.97 billion in the first six months of 2024, according to a report. In its India Digital Payments Report for the first half of 2024 (January to June), payment technology service provider Worldline that UPI continues to rule the payment market. The number of UPI transactions rose significantly from 8.03 billion in January 2023 to 13.9 billion by June 2024. This volume growth was matched by an increase in transaction value, which climbed from Rs 12.98 trillion in January 2023 to an impressive Rs 20.07 trillion in June 2024. In terms of volume and value contribution, PhonePe emerged as the top UPI app, followed by Google Pay and Paytm. However, average ticket size (ATS) of UPI transactions saw a decline of 8 percent, the report noted.

 

AWARDS AND HONOURS

 

1. South Korean author Han Kang awarded the 2024 Nobel Prize in Literature: The Royal Swedish Academy of Science has selected South Korean novelist Han Kang for the 2024 Nobel Prize in Literature. The 2016 International Booker Prize-winning novelist Han Kang was selected by the Swedish Academy “for her intense poetic prose that confronts historical traumas and exposes the fragility of human life.” Han Kang is the first Asian woman to win the Nobel Prize in Literature.She is the second South Korean to win the Nobel Prize after former President Kim Dae-Jung. President Kim Dae-Jung was conferred the Nobel Peace Prize in 2000. Han Kang will receive her 11 million Kroner prize at a ceremony in Stockholm, Sweden, on 10 December 2024, Alfred Nobel’s death anniversary.

 

2. Indian Nobel Prize Winner in Literature: Rabindranath Tagore was the first Asian and Indian to receive the Nobel Prize in Literature (1913). He is the only Indian to receive the prize.

 

 

Daily GK Update- 11th Oct, 2024

 NATIONAL UPDATES:

 

1. BJP Sweeps Haryana, NC & Cong alliance wins J&K Assembly election: Bharatiya Janata Party (BJP) was swept back to power for the historic third consecutive time in Haryana. In the Union Territory of Jammu and Kashmir, the National Conference-led alliance secured the majority to form a government.For the first time, an election was held to constitute a new legislative assembly in Jammu and Kashmir after its status was changed from a state to a Union Territory in 2019.The BJP won 48 seats, while the main opposition party, Congress, won 37 seats. The Indian Lok Dal won 2 seats, while independents won 3 seats.Since the formation of the Haryana state on 1 November 1966, no party has been able to win three consecutive legislative elections in the state.BJP became the first political party in the history of the state to be voted back to power for the third consecutive time. It won the 2014, 2019 and 2024 legislative assembly elections.

 

2. Govt releases advance instalment of Rs 1.78 lk cr for state govts amid festive season: The central government released tax devolution of over ₹ 1,78,173 to state government as against the normal monthly devolution of ₹89,086.50 crore.It includes one advanced installment, in addition to the regular installment due in October 2024.According to the Finance Ministry, an advance installment was released in view of the upcoming festive season and to enable states to accelerate capital spending and finance their development and welfare-related expenditures.Uttar Pradesh received the largest chunk of tax devolution of 31,962 crore rupees, followed by Bihar and Madhya Pradesh.

 

3. Govt to set up 10 new ESIC medical colleges, extend unemployment allowance: The government will set up 10 new ESIC medical colleges and extend the unemployment allowance scheme for ESI Corporation members until June 2026.Labour & Employment Minister, Mansukh Mandaviya at a meeting of ESI Corporation here announced several key decisions for further strengthening the infrastructure and medical facilities of ESIC.The establishment of 10 New ESIC Medical Colleges across various locations in the country. This decision will support the announcement made by Prime Minister during the Independence Day (2024) speech of creating new 75000 medical seats in the next 5 years.He has given an extension to Atal Beemit Vyakti Kalyan Yojna for a period of another two years starting July 1, 2024, upto June 30, 2026.

 

4. Cabinet approves supply of fortified rice under welfare schemes till Dec 2028 at cost of Rs 17,082 cr: The Union Cabinet, chaired by PM Narendra Modi, has approved the continuation of the universal supply of Fortified Rice under all schemes of the Government including Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) and Other Welfare Schemes etc. in its present form, from July 2024 and upto December 2028.The rice fortification initiative will continue as a central sector initiative with 100% funding by the Government of India as part of PMGKAY (Food Subsidy), thus providing a unified institutional mechanism for implementation. Food fortification has been used globally as a safe and effective measure to address anaemia and, micronutrient malnutrition in the vulnerable population. Rice is an ideal vehicle for supplying micronutrients in the Indian Context as 65% of India’s population consumes rice as a staple food. Rice fortification involves the addition of Fortified Rice Kernels (FRK) enriched with micronutrients (Iron, Folic Acid, Vitamin B12) as standards prescribed by FSSAI regular rice.

 

5. IIT Indore launches Affordable Device for Early Breast Cancer Detection: IIT Indore has introduced a new device for the early detection of breast cancer, specifically designed to help women in rural and remote areas.This device, created by Prof. Srivathsan Vasudevan, is an important step in making cancer screening more affordable and accessible.The device uses Photoacoustic Spectral Response (PASR) technology, which combines light and sound to detect abnormal changes in tissue. This helps identify cancer at an early stage.What makes this device special is its low cost. Once it is commercially produced, it will cost about one-tenth of traditional methods like MRI and CT scans, making it much more affordable for people in poor and underserved areas.This new cost-effective device, made in India, could change that by offering a cheaper, reliable option for early cancer detection, helping to close the gap in healthcare for rural communities.

 

6. Manish Tiwary appointed as MD of Nestlé India Limited: Manish Tiwary, former head of Amazon India, has been appointed as the Managing Director of Nestlé India Limited.His tenure will begin on 1st August 2025, following the retirement of the company’s current Chairman and Managing Director, Suresh Narayanan, who will step down on 31st July 2025.This transition comes as the current chairman and managing director, Suresh Narayanan, prepares to retire after a 26-year tenure with the Nestlé group. Tiwary brings nearly three decades of diverse experience to the role, currently serving as a director at Amazon Digital Services and More Consumer Brands.

 

 

INTERNATIONAL UPDATES:

 

1. Sanjeev Kr Singla appointed as India’s next Ambassador to France: Diplomat Sanjeev Kumar Singla has been appointed as India’s next Ambassador to France.An Indian Foreign Service officer of batch 1997, Singla presently serves as the Ambassador of India to Israel. His contributions to shaping India’s foreign policy towards Israel have been described as significant.Singla handled sensitive matters, particularly the complex Israel-Palestine conflict, with caution and diplomacy.

His careful approach to these issues ensured that India maintained balanced relations in the region during volatile times.

 

2. Kais Saied reelected President of Tunisia for a second 5 year term: Tunisian President Kais Saied has been re-elected for the second time for a five-year term.The Independent High Authority for Elections of Tunisia (ISIE) announced the election result, with President Saied securing 90.7 per cent of the votes polled.The Presidential election was marked by a very low voter turnout of 28.8 per cent. This was the lowest voter turnout in an election since the Jasmine Revolution of 2011, which overthrew the dictator Zine el-Abidine Ben Ali’s government and introduced democracy.

 

3. 11 October – International Day of the Girl Child: The International Day of the Girl Child is celebrated annually on October 11.Objective – To raise awareness about the unique challenges girls face worldwide and promote their empowerment.Theme 2024 – Girls’ Vision for the Future

International Day of the Girl Child was established by the United Nations General Assembly in December 2011 to recognise the challenges and discrimination faced by girls worldwide and to promote their rights and empowerment.

 

OTHER UPDATES:

 

SPORTS 

 

1. Rafael Nadal announced his retirement from Tennis: One of the greatest men’s tennis players in the open era, Rafael Nadal (from Spain), has announced his retirement from professional tennis.The upcoming Davis Cup Final in Spain will be his last tournament as a professional player.

The 2024 Davis Cup Final will take place from 19 to 24 November 2024 in Malaga, Spain.Rafael Nadal will be part of the Spanish team that will take on the Netherlands in the quarter-finals on 19 November 2024.

 

SCIENCE AND TECHNOLOGY

 

1. DigiLocker Partners with UMANG: Unlock Seamless Access to Government Services: The National e-Governance Division has announced the integration of the UMANG app with DigiLocker to provide citizens seamless access to a wide range of government services.This collaboration will allow users to manage multiple services through a single platform.The UMANG app is accessible to all Android users, and its services can be accessed through the DigiLocker app.

 

2. National Space Commission approves India’s Fifth Lunar Mission ‘Lupex’: After the success of Chandrayaan-3 in August 2023, India’s National Space Commission (NSC) has approved a new lunar mission, called the Lunar Polar Exploration Mission (Lupex).This mission is a partnership between India’s space agency ISRO and Japan’s space agency JAXA, and it will focus on exploring the Moon’s resources, especially water at the lunar south pole.The collaborative moon expedition, set to touch down at the precise southern tip of the moon (90-degree latitude), is focused on exploring the moon for water and other valuable resources.In this mission, JAXA (Japan) will build the rover and the rocket, while ISRO (India) will build the lander that will carry the rover to the Moon’s surface.

 

 

AWARDS AND HONOURS

 

1. David Baker, Demis Hassabis & John Jumper win Nobel Prize 2024 for Chemistry: The Royal Swedish Academy of Science, Stockholm, has chosen David Baker, Demis Hassabis, and John M. Jumper for the 2024 Nobel Prize in Chemistry.American David Baker was honoured for his work on ‘computational protein design’.British Demis Hassabi and American John M. Jumper were honoured for their work in predicting protein structures from their amino acid sequences.The cash prize of 11 million kroner will be shared among the three winners. Half of the prize will go to David Baker, and the other half will be equally shared between Demis Hassabis and John M. Jumper.The award will be conferred to them in a ceremony in Stockholm, Sweden, on 10 December 2024.

 

2. Indian/Indian origin scientists to win Chemistry Nobel Prize: The Indian-born Venkatraman Ramakrishnan, who holds dual nationality of Britain and the United States, was awarded the Nobel Prize for Chemistry in 2009. Madame Marie Curie was the first woman to be awarded the Nobel Prize in Chemistry in 1911 for discovering polonium and radium.

 

 

 

Daily GK Update- 10th Oct, 2024

 NATIONAL UPDATES:

 

1. Nitin Gadkari unveils ‘Humsafar Policy’ for Onboarding Service Providers: Union Minister of Road Transport & Highways Nitin Gadkari launched the ‘Humsafar Policy’ in New Delhi to enhance convenience of travelling on National Highways and accelerate development of the Wayside Amenities in presence of Shri Ajay Tamta, Minister of State for Road Transport and Highways.This scheme will help in facilitation of a smooth, safe, and pleasant journey for users. It will be environment friendly and has been prepared to keep the ecology and cleanliness in perspective.The policy aims to provide a comprehensive framework to ensure that commuters have access to standardized, well-maintained, and hygienic facilities by onboarding both existing and upcoming service providers along National Highways and Expressways. Existing and upcoming service providers under the categories of Eateries, Fuel Station and Trauma Centres will be eligible, to register under the Humsafar Policy.

 

2. PM Modi laid foundation stone for various development projects in Maharashtra worth over Rs 7600 crore: The Prime Minister, Narendra Modi laid the foundation stone for various development projects in Maharashtra worth over Rs 7600 crore via video conference.The projects include the foundation stone laying of the upgradation of Dr Babasaheb Ambedkar International Airport, Nagpur with a total estimated project cost of around Rs 7000 crore.The Prime Minister laid the foundation stone for the New Integrated Terminal Building at Shirdi Airport worth over Rs 645 crore. It will provide world-class facilities and amenities for the religious tourists coming to Shirdi. In line with his commitment to ensuring affordable and accessible healthcare for all, the Prime Minister launched the operationalization of 10 Government Medical Colleges, in Maharashtra located at Mumbai, Nashik, Jalna, Amravati, Gadchiroli, Buldhana, Washim, Bhandara, Hingoli and Ambernath (Thane). While enhancing the undergraduate and postgraduate seats, the colleges will also offer specialized tertiary healthcare to the people.

 

3. Development of National Maritime Heritage Complex, Lothal, Gujarat: The Cabinet has given the nod for the development of the National Maritime Heritage Complex (NMHC) at Lothal, Gujarat.The project, designed to celebrate India’s rich maritime history, will be executed in phases.The first phase, which is already under construction with over 60 per cent progress, is expected to be completed by 2025.The total development of the NMHC will include world-class facilities, including multiple galleries showcasing naval artifacts and a replica of the ancient Lothal township, a major Indus Valley port city.The NMHC aims to highlight India’s 4,500-year-old maritime heritage, drawing in tourists, researchers, and cultural organisations. The complex will be one of the world’s largest maritime museums, reinforcing India’s historical significance in naval trade and exploration.

 

4. India’s Prasanth Kumar re-elected as president of AAAI: GroupM Media India, the Indian arm of the US-based media investment group’s chief executive officer (CEO) – South Asia, Prasanth Kumar, has been re-elected as the president of the Advertising Agencies Association of India (AAAI) for the year 2024-25.The AAAI is a not-for-profit, industry-led and industry-managed trade association of advertising agencies, formed in 1945.Prasanth Kumar is a GroupM veteran with over two decades of experience in advertising, having worked in other organisations as well.He has previously worked at Pepsi, The Hindu, The Media Edge, and McCann Erickson before joining GroupM. He also served as vice-president of AAAI during 2020-22.

 

5. Ravindra Kundu takes charge as Cholamandalam MD: Ravindra Kumar Kundu has been appointed as the Managing Director of Cholamandalam Investment and Finance Company for a five-year term.Kundu’s journey at Cholamandalam began in 2000 when he joined as a Senior Executive in Marketing. Over the years, he progressed through various leadership roles, overseeing critical functions such as credit, collections, and business operations.With over 36 years of experience in the automobile and financial services sectors, Kundu has been a key figure in the company, serving as Executive Director since January 2020.

 

INTERNATIONAL UPDATES:

 

1. DAE inaugurates MACE, Asia’s Largest and World’s Highest Imaging Cherenkov Observatory, at Hanle Ladakh: The Major Atmospheric Cherenkov Experiment (MACE) Observatory was inaugurated by Dr. Ajit Kumar Mohanty, Secretary DAE & Chairman of the Atomic Energy Commission, at Hanle, LadakhMACE is the largest imaging Cherenkov telescope in Asia. Located at an altitude of ~4,300 m, it is also the highest of its kind in the world.The telescope is indigenously built by BARC with support from ECIL and other Indian industry partners.The inaugural of MACE Observatory was a part of the Platinum Jubilee year celebrations of the DAE.

The MACE Observatory is a monumental achievement for India, placing our nation globally at the forefront of cosmic-ray research. This telescope will allow us to study high-energy gamma rays, paving the way for deeper understanding of the universe’s most energetic events.

 

2. 10 October – World Mental Health Day: World Mental Health Day is observed every year on October 10.This day aims to increase understanding, dispel misconceptions, and encourage mental wellness support.Theme 2024 – Mental Health At WorkWorld Mental Health Day was founded in 1992 by the World Federation for Mental Health (WFMH), led by Deputy Secretary General Richard Hunter.This was first observed on October 10th when 12 countries participated. The goal of this day is to spread awareness, reduce stigma related to mental health and mobilise global suppors

OTHER UPDATES:

DEFENCE

 

1. Cabinet Approves National Maritime Heritage Complex and Border Roads: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved two major infrastructure projects that highlight the government’s focus on both heritage preservation and border area development.The first project is the National Maritime Heritage Complex (NMHC) at Lothal, Gujarat, while the second focuses on improving road infrastructure in the border areas of Rajasthan and Punjab.

 

2. Road Infrastructure in Rajasthan and Punjab Border Areas: The Cabinet has sanctioned the construction of 2,280 kilometres of roads in the border areas of Rajasthan and Punjab, with an investment of Rs 4,406 crore. This project is part of a broader strategy to improve infrastructure in the nation’s border areas.The new roads will not only enhance road and telecom connectivity but also improve access to essential services like water supply, healthcare, and education.

 

3. Air Marshal SP Dharkar appointed as the next IAF Vice Chief: Air Marshal SP Dharkar, a distinguished fighter pilot, has been appointed as the next Vice Chief of Air Staff.He will succeed Air Marshal AP Singh, who is set to become the Chief of Air Staff.With more than 3,600 flying hours, Air Marshal Dharkar brings extensive experience to the position.He is an alumnus of the Rashtriya Indian Military College in Dehradun, the National Defence Academy in Pune, the Defence Services Staff College in Wellington, and the Air War College in the United States.

 

4. GRSE delivers second survey vessel INS Nirdeshak to Indian Navy: Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd delivered survey vessel INS Nirdeshak to the Indian Navy.

INS Nirdeshak is the second in a series of four such vessels being constructed by GRSE, with the first delivered to the Navy 10 months ago in December 2023.These are the largest survey vessels for the Indian Navy to be built in the country.At 110 metres long, INS Nirdeshak will join INS Sandhayak, the first Survey Vessel Large (SVL) delivered by GRSE, to keep the country’s naval forces equipped with the latest survey data, which is essential for operations.The Sandhayak-class SVLs can undertake surveys of maritime limits and collect oceanographic and geographical data for defence applications, which adds muscle to India’s maritime capabilities.

 

BANKING AND FINANCE

 

1. IFC partners with Axis Bank to provide $500 million climate loan in India: The International Finance Corporation (IFC) has partnered with Axis Bank to provide a $500 million loan to help develop a blue finance market and scale up financing of green projects in India.This is IFC’s first blue investment in India and the first blue transaction by a financial institution in the country.Blue loans are financing instruments that raise and earmark funds for investments such as water and wastewater management, reduction of marine plastic pollution, restoration of marine ecosystems, sustainable shipping, eco-friendly tourism, and offshore renewable energy. This transaction is also the largest green financing by IFC in the country. The funding will enable Axis Bank to expand its climate finance portfolio.

 

2. BoB to sell Oman operation to Bank Dhofar as part of rationalization: State-owned Bank of Baroda (BoB) has proposed to sell its Oman operation to Bank Dhofar as part of rationalisation of foreign operation.The bank has accorded approval for accepting the offer for acquisition of the banking business of Bank’s Oman territory operations by Bank Dhofar on a going concern basis.The total business of BoB operation in the country was 113.35 million Omani Rial while the net worth stood at 25.54 million Omani Rial.

 

3. CCI approves acquisition of paid up share capital of JM Financial Credit Solutions Limited by JM Financial Limited: The Competition Commission of India (CCI) has granted approval for transactions including the acquisition of 42.99 per cent of the total paid-up share capital of JM Financial Credit Solutions Limited (JMFCSL) by JM Financial Limited (JMFL).And the acquisition of 71.79 per cent of the total paid-up share capital of JM Financial Asset Reconstruction Company Limited (JMFARC) by JMFCSL.According to CCI, this proposed combination involves simultaneous acquisitions aimed at strengthening JM Financial’s foothold in the financial sector.JM Financial Limited, as the operating and holding company of the JM Financial Group, plays a crucial role in providing integrated and diversified financial services.JM Financial Credit Solutions Limited, a subsidiary of JMFL, is classified as a systemically important non-deposit-taking Non-Banking Finance Company (NBFC).Registered with the Reserve Bank of India (RBI), JMFCSL is categorised as a middle-layer NBFC, primarily engaged in wholesale lending activities, with a focus on real estate and corporate financing.

 

4. Repo rate remains unchanged at 6.50% for tenth time in a row: The Reserve Bank of India decided to keep the policy repo rate unchanged at 6.50 per cent for the tenth time in a row.

Consequently, the standing deposit facility (SDF) rate remains at 6.25 percent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. The RBI has maintained status quo on benchmark interest rate since February 2023.The Monetary Policy Committee (MPC) also decided to change the monetary policy stance to ‘neutral’ and to remain unambiguously focused on a durable alignment of inflation with the target, while supporting growth.These decisions are in consonance with the objective of achieving the medium term target for consumer price index (CPI) inflation of 4 per cent within a band of plus or minus 2 per cent, while supporting growth.

 

AWARDS AND HONOURS

 

1. John Hopfield, Geoffrey Hinton awarded for Nobel Prize in Physics 2024: The Royal Swedish Academy of Science, Stockholm, Sweden, has chosen John J. Hopfield and Geoffrey E. Hinton for the Nobel Prize in Physics for the year 2024.American John Hopfield and British-Canadian Geoffrey Hinton were chosen for their pioneering work in the development of artificial intelligence (AI). They have been honoured for their discoveries and inventions that enable machine learning with artificial neural networks.Hopfield, a professor at Princeton University in the U.S., is credited with developing the Hopfield network, a type of recurrent neural network. Its neurons learn and process information based on Hebbian learning — an idea in neuropsychology that, if one neuron repeatedly triggers a second, the connection between the two becomes stronger.The rules of a Hopfield network are based on the physics of a group of atoms, each producing its small magnetic field. The processes the network performs to complete an incomplete pattern or to denoise an image are the same ones that, by analogy, would reduce the total energy of the magnetic atoms.

 

2. Indian/Indian origin scientists to win Physics Nobel Prize: The first Indian who won the Nobel Prize in Physics was Sir Chandrashekhara Venkata Raman (C.V. Raman) in 1930. In 1983, Indian -American Subhramanayam Chandrashekhar got the Nobel Prize for Physics.