NATIONAL UPDATES:
1. ADB grants $162 mn loan for new infra, tourism boost in Himachal Pradesh: The Asian Development Bank (ADB) has approved a loan of $162 million to support tourism development in Himachal Pradesh.The loan has been provided to finance the state government’s Sustainable and Inclusive Tourism Development Project.The state government’s Sustainable and Inclusive Tourism Development Project aims to revive the tourism economy in the five districts—Hamirpur, Kangra, Kullu, Mandi, and Shimla which were badly affected during the pandemic.The loan will finance the promotion of heritage and cultural sites in the Mandi and Hamirpur districts and the restoration of the historic Naggar Castle in Kullu. Upgrades to facilities along key travel routes in Kullu, Hamirpur, and Kangra are also part of the plan, focusing on incorporating environmentally friendly technologies such as solar-powered lighting and electric vehicles. These initiatives also aim to improve accessibility for the elderly, women, children, and people with disabilities.
2. Himachal Pradesh CM launches Sankalp Initiative to tackle drug menace: Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu has launched a drug eradication initiative ‘Sankalp’ that also aims to address drug trafficking and supporting rehabilitation efforts.The Sankalp initiative was announced by the chief minister, Sukhvinder Singh Sukhu, at an event organised by Divya Jyoti Jagriti Sansthan in the state capital, Shimla. The state government will set up a state-level model of de-addiction and rehabilitation center under the Sankalp initiative at Kotla Barog in the Pachhad subdivision of the Sirmaur district.The model center will assist drug addicts in de-addiction and help them reintegrate into mainstream society.
3. Health Minister JP Nadda announces enhanced nutrition support for TB patients: Union Health Minister JP Nadda has announced several key initiatives aimed at enhancing nutrition support for TB patients and their household contacts.The monthly nutrition support under Ni-kshay Poshan Yojana has been doubled from the existing 500 rupees to 1000 rupees for all TB patients during the period of treatment.The government has also decided to introduce energy-dense nutrition supplementation for all patients with BMI less than 18.5.The government also decided to permit expansion of scope and coverage of Ni-Kshay Mitra initiative under Pradhan Mantri TB Mukt Bharat Abhiyaan (PMTBMBA) including the family members of TB patients.All TB patients will now receive nutritional support of 3,000 rupees to 6,000 rupees under NiKshay Poshan Yojana (NPY). The enhancement of NPY support will benefit all 25 lakh TB patients annually and the introduction of Energy Dense Nutritional Supplementation (EDNS) would cover approximately 12 lakh underweight patients.
4. Retired IPS Sharad Kumar appointed new head of BCCI’s Anti-Corruption Unit: Retired IPS officer Sharad Kumar, who headed anti-terror organisation NIA for four years, has been appointed as the new chief of the BCCI’s Anti-Corruption Unit, bringing extensive experience to the role.Hailing from Bareilly in Uttar Pradesh, the appointment of 68-year-old Kumar was done on October 1 by the cricketing body.BCCI’s ACU head has been appointed for a three-year term.He is a 1979 batch IPS officer from the Haryana cadre and has had a distinguished career especially as the chief of the National Investigation Agency from 2013 to 2017.He will take over from KK Mishra, also a former Haryana cadre IPS officer, who was appointed last year but did not complete his term due to unspecified reasons.
5. Government extends tenure of RBI Deputy Governor for 1 year: The Central Government has extended the tenure of Mr M. Rajeshwar Rao as Deputy Governor, Reserve Bank of India with effect from the 9th of October. 2024.The extension is for one year or until further orders, whichever is earlier.This is the second one-year extension for Mr Rao, who was initially appointed as Deputy Governor in October 2020 for three years. Rao will continue to look after the Department of Regulation, Department of Communication, Enforcement Department, Legal Department and Risk Monitoring Department.
INTERNATIONAL UPDATES:
1. India to provide $400 Million Credit Swap Facility to Maldives: India has extended support of 400 million dollars and a bilateral currency swap of 3,000 crore rupees to the Maldives.The support will be instrumental in tackling the ongoing financial challenges faced by the Maldives.Besides, the currency swap agreement, the two countries signed two MoUs including bilateral cooperation on preventing and combating corruption. Two MoUs were also renewed between the two countries on Capacity Building Programs for Maldivian judicial officers and in the field of Sports and Youth Affairs.
2. JP Nadda elected as Chairperson of 77th Session of WHO Regional Committee: Union Health Minister JP Nadda was elected Chairperson of the 77th session of WHO’s Regional Committee for Southeast Asia.The committee shapes WHO’s health policies in the region.The member nations include Bangladesh, Bhutan, the Democratic People’s Republic of Korea, India, Indonesia, the Maldives, Myanmar, Nepal, Sri Lanka, Thailand, and Timor-Leste.The focus is on improving public health systems and addressing key epidemiological and demographic challenges.
3. Shigeru Ishiba appointed as the 102nd PM of Japan: Japan’s parliament elected Shigeru Ishiba, head of the governing Liberal Democratic Party, as the country’s new prime minister.Shigeru Ishiba as the 102nd Prime Minister of Japan.The 67-year-old Shigeru Ishiba replaces Fumio Kishida, who was also from the same political party – the Liberal Democratic Party (LDP)The LDP has ruled Japan almost continuously since its formation in 1955.Former Prime Minister Fumio Kishida resigned as the Prime Minister of Japan in September this year due to a series of political scandals.Shigeru Ishiba has appointed Takeshi Iwaya as the new Foreign Minister of Japan.
4. 7 October 2024 – World Habitat Day: World Habitat Day is celebrated every year on the first Monday of October. This year it was celebrated on 7 October. The day serves as a powerful reminder that everyone has the right to a decent and safe place to live.On this day, governments, communities and individuals are urged to work towards improving housing conditions, creating safe environments and making neighbourhoods safer.Theme 2024 – Engaging youth to build a better urban future World Habitat Day was first celebrated in 1985.
5. 9 October – World Post Day: World Post Day is celebrated annually on October 9 to highlights the significant role of the postal system in daily life, global communication, and economic development.This year marks the 150th anniversary of the Universal Postal Union (UPU), established in 1874 in Bern, Switzerland, which paved the way for modern international mail exchange.Theme 2024 – 150 years of enabling communication and empowering peoples across nations.
OTHER UPDATES:
SPORTS
1. Olympian Dipa Karmakar retires from Gymnastic: Olympian and Commonwealth Games bronze medallist Dipa Karmakar has announced her retirement from Gymnastics. Dipa Karmakar, nicknamed ‘Small Wonder,’ was the first female Indian gymnast to establish India’s name at the international level in the sport. Dipa, who hails from Agartala, Tripura, holds the distinction of being the first Indian female gymnast to compete at the Olympics. Her only Summer Games appearance at Rio 2016 saw her narrowly miss a medal in the women’s vault event. She also has the distinction of being the first Indian woman to win a gymnastics medal at the Commonwealth Games. She won a bronze medal at the 2014 Glasgow Commonwealth Games. Dipa Karmakar is the first Indian to win a gold medal at an international gymnastics event. She won a gold medal in the women’s vault at the 2018 Artistic Gymnastics World Cup in Mersin, Turkiye.
BANKING AND FINANCE
1. Arka Fincap launches ‘Uday’ to boost MSME Growth with Small Ticket Loans: Arka Fincap Limited, a subsidiary of Kirloskar Oil Engines Limited (KOEL), has introduced a new product called ‘Uday’, offering Small Ticket Loans Against Property (STLAP). Targeted at micro, small, and medium enterprise (MSME) owners, these loans will range from ₹10 lakh to ₹30 lakh. The company aims to address the growing credit demands of small businesses in Tier II, III, and IV cities, providing crucial financial backing for their growth and expansion.
2. ‘Uday’ will be initially rolled out in five important places in Tamil Nadu: Salem, Vellore, Tirupur, Porur, and Coimbatore.This launch marks the start of a larger, pan-India push deeper into Bharat. Arka Fincap Limited has ambitious ambitions to expand the product’s accessibility to MSMEs across the country, ensuring that small business owners in all regions may take advantage of this accessible and flexible lending solution.
3. Reliance Nippon Life Insurance unveils ‘Nishchit Pension’ to help Indians secure guaranteed long-term retirement income: Reliance Nippon Life Insurance Company Limited, a leading private life insurer, has unveiled a new deferred annuity plan, the Reliance Nippon Life Nishchit Pension, which is designed to provide a guaranteed lifelong income, allowing customers to streamline their retirement income and protect against any decline in long-term interest rates.
RNL Nischit Pension solves significant retirement-related concerns such as establishing lifetime income guarantees, ensuring income for the last surviving couple, and leaving a legacy for future generationsRNL Nishchit Pension provides a lifelong rate guarantee for self and family, which is critical for good retirement planning. Customers can choose their annuity start date by postponing psayouts, as well as the frequency of their income payouts (monthly, quarterly, semi-annually, or yearly) to meet their specific demands.
4. HDFC Bank Divests 100% Stake in HDFC Edu for ₹192 Crore: India’s largest private sector lender HDFC Bank has approved 100% stake sale of subsidiary HDFC Education to Vama Sundari Investments in an all-cash deal amounting to Rs 192 crore. The sale price is Rs. 9.60 per share.It would divest 91% stake in HDFC Edu on or before October 31, 2024, and the remaining 9% stake will be divested before June 30, 2025. With this sale HDFC Edu would cease to be a subsidiary of the bank.Vama Sundari Investments is a related party of HDFC Asset Management Company hence the sale of shares to Vama Sundari would be a related party transaction for the Bank.HDFC Edu is in the business of providing services related to schools, higher education, vocational education and training, and supplemental education. It was incorporated in 2011 and has a total income of Rs 18.18 crore at the end of March 2024 and total assets of Rs 197.05 crore.
AWARDS AND HONOURS
1. Victor Ambros & Gary Ruvkun win Nobel medicine for microRNA discovery: Scientists Victor Ambros and Gary Ruvkun have won the 2024 Nobel Prize in Physiology or Medicine for their discovery of microRNA and its role in gene regulation.The United States-based laureates discovered the new class of tiny RNA molecules, which play a crucial role in regulating gene activity.Ambros conducted the research that led to his prize at Harvard University. He is currently a professor of natural science at the University of Massachusetts Chan Medical School.Ruvkun’s research was performed at Massachusetts General Hospital and the Harvard Medical School, where he is a professor of genetics.The winners for medicine are selected by the Nobel Assembly of Sweden’s Karolinska Institute Medical University and receive a prize sum of 11 million Swedish crowns ($1.1m).
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