+91 9999466225 (Mon - Sat) info@anujjindal.in

01st-03rd October, 2023

Multi-System Operator (MSO) Registrations, ‘Social Security Agreement’, IGMS 2.0 Public Grievance portal, Sankalp Saptaah, Travel Mart 2023, Yashaswini, multi-agency centre (MAC),, Jewar airport, Norwegian Geotechnical Institute, an e-cabinet system, ‘Swachhata Hi Seva’ Campaign, pipe composting, World Heritage Committee, Asian Development Bank, Southeast Asia’s first high-speed railway, “largest” statue of B R Ambedkar, AUKUS program, Nashik Zilla Girna Sahakari Bank, SahiBandhu, small savings schemes for the Q3 of 2023-24, mutual fund unit holders, International Finance Corporation, special additional excise duty (SAED) on crude petroleum, ‘Social Bonds’, online gaming companies, National Pension Scheme, Insolvency and Bankruptcy Board of India (IBBI), Times Higher Education World University Rankings 2024, Review of Maritime Transport 2023, Dornier Do-228 aircraft, Defence Accounts Department, Astra Beyond Visual Range, three airborne intelligence gathering aircraft, SAMPRITI, National Turmeric Board, Kantar BrandZ Most Valuable Indian Brands 2023, National Service Scheme Awards, 2023 SASTRA Ramanujan Prize, 1st edition of the Climate Action Awards, Nobel Prizes 2023, International Day of Awareness on Food Loss and Waste Reduction, International Translation Day, 19th Asian Games, India’s Rail Vikas Nigam Limited, Intel India president, Dhanlaxmi Bank, Chairman of the Press Trust of India, Presidential election in Maldives, India’s G20 presidency
  1. Ministry of Information and Broadcasting has amended the Cable Television Network Rules, 1994 for introducing a procedure for the renewal of Multi-System Operator (MSO) Registrations.
  2. India and Argentina have signed a ‘Social Security Agreement’ for protecting the rights of professionals and workers in both countries, allowing for risk-free international mobility.
  3. IGMS 2.0 Public Grievance portal and Automated Analysis in Tree Dashboard portal of the Department of Administrative Reforms and Public Grievances (DARPG) have been launched.
  4. Indian Prime Minister Narendra Modi launched a week-long program called “Sankalp Saptaah” for Aspirational Blocks in India.
  5. India will host the 46th edition of the Pacific Asia Travel Association (PATA) Travel Mart 2023 in New Delhi from October 4th to 6th, 2023.
  6. A nationwide cleanliness drive and shramdaan initiative were carried out on October 1, 2023.
  7. Central Reserve Police Force and the Ministry of Women and Child Development launched a cross-country bike expedition called “Yashaswini” with women CRPF officers.
  8. The Ministry of Home Affairs held a meeting of multi-agency centre (MAC), a common counter-terrorism grid, for discussing about issues related to Pakistan.
  9. Noida’s upcoming Jewar airport has been assigned the three-letter code ‘DXN’ by the International Air Transport Association (IATA), signifying its proximity to Noida, Delhi, and western Uttar Pradesh.
  10. Arunachal Pradesh has signed an MoU with the Norwegian Geotechnical Institute (NGI) to explore the feasibility of harnessing geothermal potential in the state’s hot springs.
  11. Chhattisgarh CM Bhupesh Baghel unveiled development works worth Rs 1021.59 crore for Raipur.
  12. Tripura Chief Minister Manik Saha launched an e-cabinet system at Agartala to promote digital infrastructure development and digitisation of government services and information.
  13. Jammu & Kashmir has declared all its 6650 villages in 20 districts as ODF Plus Model during the ‘Swachhata Hi Seva’ Campaign.
  14. Tamil Nadu Chief Minister M.K. Stalin has announced a cash reward of ₹25 lakh each for nine space scientists hailing from Tamil Nadu, in recognition of their outstanding contributions to the nation.
  15. Assam is promoting pipe composting as an effective method for managing biodegradable waste at the household level during the Swachhata Hi Seva campaign.
  16. The Extended 45th Session of the World Heritage Committee was held in Riyadh, Saudi Arabia, from 10 to 25 September.
  17. Iran’s Islamic Revolutionary Guard Corps (IRGC) launched its third military imaging satellite, Nour 3.
  18. The Asian Development Bank (ADB) has approved significant capital management reforms, resulting in an additional $100 billion in funding capacity over the next decade.
  19. Indonesia has launched Southeast Asia’s first high-speed railway, which is funded by China.
  20. The “largest” statue of B R Ambedkar outside India has been constructed in Maryland, North America on October 14.
  21. The United Kingdom has awarded a £4 billion contract to BAE Systems, Rolls-Royce, and Babcock as part of the AUKUS program to design and manufacture nuclear-powered submarines for the Royal Navy.
  22. RBI has revoked the banking license of Nashik Zilla Girna Sahakari Bank Limited due to its inability to maintain adequate capital and sustain profitable operations.
  23. Karnataka Bank has partnered with SahiBandhu, an aggregator platform for gold loans, to launch a “doorstep gold loan” service named ‘KBL-Swarna Bandhu’.
  24. The Department of Economic Affairs, Ministry of Finance has increased the interest rate for the small savings schemes for the Q3 of 2023-24.
  25. The Securities and Exchange Board of India (SEBI) has extended the deadline for mutual fund unit holders to nominate their beneficiaries to December 31, 2023, from the previous deadline of September 30, 2023.
  26. RBI has granted approval to the International Finance Corporation (IFC) to acquire a 9.7% stake in Federal Bank.
  27. The Central government hiked special additional excise duty (SAED) on crude petroleum to ₹12,100 per tonne with effect from September 30.
  28. National Bank for Agriculture and Rural Development (NABARD) announced the listing of its ‘Social Bonds’ on the Bombay Stock Exchange (BSE).
  29. RBI has issued fresh instructions to banks not to receive any ₹2,000 currency notes from October 8 onwards.
  30. From October 1, online gaming companies will charge 28% GST on full value of bets.
  31. HDFC Pension has launched a first-of-its-kind NPS Preference Index to highlight the preference for the National Pension Scheme amongst different consumer groups.
  32. The Insolvency and Bankruptcy Board of India (IBBI) celebrated its Seventh Annual Day on October 1.
  33. The Times Higher Education World University Rankings 2024 has been released.
  34. UNCTAD has released the Review of Maritime Transport 2023.
  35. The Indian Air Force (IAF) has received the first of six new Dornier Do-228 aircraft manufactured by Hindustan Aeronautics Limited (HAL).
  36. Raksha Mantri Shri Rajnath Singh launched several digital initiatives of Defence Accounts Department (DAD) during its 276th Annual Day celebrations.
  37. The Indian Air Force (IAF) has placed two contracts with Bharat Dynamics Ltd. (BDL) for the indigenous Astra Beyond Visual Range (BVR) air-to-air missile.
  38. Indian Air Force has presented a proposal to acquire three airborne intelligence gathering aircraft under a project that will see the development of indigenous sensor technologies and systems.
  39. India and Bangladesh commenced the 11th edition of annual joint military exercise, SAMPRITI in Umroi, Meghalaya.
  40. Prime Minister Narendra Modi has announced the setting up of a National Turmeric Board in Telangana and, also ₹900 crore Sammakka-Sarakka Central Tribal University in Mulug.
  41. Kantar BrandZ Most Valuable Indian Brands 2023 (10th edition) list has been released.
  42. The President of India, Smt Droupadi Murmu presented the National Service Scheme Awards for the year 2021-2022 at Rashtrapati Bhavan.
  43. Ruixiang Zhang, Assistant Professor, University of California, Berkeley, USA will be awarded with the 2023 SASTRA Ramanujan Prize for his outstanding contributions in mathematics.
  44. International Olympic Committee (IOC) has announced the winners of the 1st edition of the Climate Action Awards, recognising the athletes, International Federations (IFs) and National Olympic Committees (NOCs) who are taking tangible steps to tackle the climate crisis.
  45. Nobel Prizes 2023 –
  46. September 29 – International Day of Awareness on Food Loss and Waste Reduction; Theme – “Reducing food loss and waste:  Taking Action to Transform Food Systems”
  47. September 30 – International Translation Day (to honour Saint Jerome, the Bible translator); Theme – ‘Translation unveils the many faces of humanity’
  48. October 2 – 154th birth anniversary of Mahatma Gandhi
  49. 19th Asian Games highlights –
  50. The Indian Railways has signed a supply contract with Kinet Railway Solutions, a joint venture between Russian companies Metrowagonmash (MWM) and Locomotive Electronic Systems (LES), along with India’s Rail Vikas Nigam Limited (RVNL), to produce Vande Bharat trains.
  51. Chipmaker Intel has promoted Gokul Subramaniam to the post of Intel India president.
  52. RBI cleared the appointment of K N Madhusoodanan as a part-time chairman of Kerala-based Dhanlaxmi Bank.
  53. K.N. Shanth Kumar of The Printers (Mysore) Pvt. Ltd was elected Chairman of the Press Trust of India for a one-year term.
  54. Mohamed Muizzu has won the Presidential election in Maldives.
  55. Ashwin Dani, former vice chairman and managing director of India’s largest paints company Asian Paints, has passed away.
  56. Prime Minister Narendra Modi has released books revolving around the success of India’s G20 presidency.

Table of Content

National News

  1. Ministry of Information and Broadcasting has amended the Cable Television Network Rules, 1994 for introducing a procedure for the renewal of Multi-System Operator (MSO)
      • The salient features of the amended Rules for MSO Registration are:
        • Registration or renewal will be done on Broadcast Seva Portal of MIB
        • MSO registrations shall be granted or renewed for a period of 10 years
        • The processing fee is Rs. 1 lakh for renewal of registration
      • Another provision –
        • Cable Operators will share their infrastructure with broadband service providers for the twin benefit of enhanced internet penetration and efficient utilization of resources.
Knowledge Nuggets -
• An MSO receives the signals of different television channels, combines the same and transmits this combined feed to multiple Local Cable Operators.
• MSOs stand at the middle point in the hierarchy of the cable services sector between the broadcasters on one side and local cable operators on the other.
Source: PIB MSO

  1. India and Argentina have signed a ‘Social Security Agreement’ for protecting the rights of professionals and workers in both countries, allowing for risk-free international mobility.
      • This agreement ensures that Indian nationals working in various Indian and international companies in Argentina, as well as Argentine nationals seeking employment in India, do not lose their social security benefits or contributions.
      • It covers old age and survivor’s pensions, disability pensions, and other social security aspects based on the national laws of both countries.
        Source: The Hindu
  2. IGMS 2.0 Public Grievance portal and Automated Analysis in Tree Dashboard portal of the Department of Administrative Reforms and Public Grievances (DARPG) have been launched.
      • IGMS 2.0 provides instant tabular analysis of grievances filed and disposed of state-wise and district-wise grievances filed, and ministry-wise data.
      • The dashboard helps officials identify the root cause of grievances, and it aims to expedite the grievance redressal process by the concerned ministry/department.
      • The Swachhata Special Campaign 3.0 was also launched as part of the initiative.
      • This campaign focuses on field/outstation offices responsible for service delivery or having a public interface, in addition to ministries/departments and their attached/subordinate offices.
      • DARPG is the Nodal Department for implementation of Special Campaign 3.0.
        Source: PIB
  3. Indian Prime Minister Narendra Modi launched a week-long program called “Sankalp Saptaah” for Aspirational Blocks in India.
      • The program aims to improve governance at the block level to enhance the quality of life for citizens.
      • It covers 500 Aspirational Blocks across 329 districts in the country.
      • Each day of the week focuses on a specific development theme, including health, nutrition, cleanliness, agriculture, education, and prosperity.
        Source: PIB
  4. India will host the 46th edition of the Pacific Asia Travel Association (PATA) Travel Mart 2023 in New Delhi from October 4th to 6th, 2023.
      • The Mart will bring together exhibitors and attendees from diverse sectors, offering a unique platform for networking, learning and collaboration.
      • This year, the event will feature different activities, including the prestigious PATA Gold Award, the PATA Youth Symposium, PATA Forum on Sustainability besides the B2B Mart.
Knowledge Nuggets -
• The Pacific Asia Travel Association (PATA), founded in 1951, with its headquarters in Bangkok, is a renowned not-for-profit association recognized internationally for its role as a catalyst in the responsible development of travel and tourism in the Asia Pacific region.
• PATA Travel Mart is one of the important international trade exhibitions catering to the tourism sector and it serves as a platform for trade interactions between global buyers and sellers mostly from the Asia Pacific region.
Source: PIB

  1. A nationwide cleanliness drive and shramdaan initiative were carried out on October 1, 2023.
      • Recently, the Ministry of Civil Aviation and its organizations participated in Swachhata Hi Seva campaign.
      • Banners, posters, and selfie points were placed at airports to spread the message of cleanliness.
        Source: PIB
  2. Central Reserve Police Force and the Ministry of Women and Child Development launched a cross-country bike expedition called “Yashaswini” with women CRPF officers.
      • Purpose – The expedition promotes the “Beti Bachao Beti Padhao” program and showcases the resilience and strength of women
      • The Lieutenant Governor of Jammu & Kashmir, Manoj Sinha, flagged off the rally from Lal Chowk, Srinagar, and it will conclude on October 31 (birth anniversary of Sardar Vallabhbhai Patel or Rashtriya Ekta Diwas) in Gujarat.
        Source: PIB
  3. The Ministry of Home Affairs held a meeting of multi-agency centre (MAC), a common counter-terrorism grid, for discussing about issues related to Pakistan.
Knowledge Nuggets -
• India’s Multi-Agency Centre (MAC) is the country’s biggest intelligence input sharing platform.
• MAC was set up in 2001 after the Kargil War under the Intelligence Bureau.
• The centre is headquartered in Delhi and 28 agencies like the R&AW, state police, financial intelligence bodies and defence intelligence bodies, are part of the system through which they share intelligence inputs.
• State-level MACs coordinate with the centre through nodal officers.

Source: IE News18

State News

  1. Noida’s upcoming Jewar airport has been assigned the three-letter code ‘DXN’ by the International Air Transport Association (IATA), signifying its proximity to Noida, Delhi, and western Uttar Pradesh.
      • This code, given by IATA, aids in the easy identification of airports worldwide. The ‘DXN’ code will help travellers and aviation professionals identify the airport accurately.
      • Noida Airport will be India’s largest airport being developed in four phases across 5,000 hectares.
      • The airport is being constructed by Yamuna International Airport Private Limited, a subsidiary of Swiss company Zurich Airport International AG.
        Source: ET
  2. Arunachal Pradesh has signed an MoU with the Norwegian Geotechnical Institute (NGI) to explore the feasibility of harnessing geothermal potential in the state’s hot springs.
      • The Centre for Earth Sciences & Himalayan Studies (an autonomous organization of Department of Science & Technology), Government of Arunachal Pradesh, has been partnering with NGI for this MOU.
        Source: ET

  3. Chhattisgarh CM Bhupesh Baghel unveiled development works worth Rs 1021.59 crore for Raipur.
      • An Automatic Number Plate Recognition (ANPR) based e-detection system will be established to enforce fines for vehicles without fitness and tax documents automatically.
      • A Nirbhaya command center and GPS-based vehicle tracking software for women’s safety will be established to enhance safety measures using panic buttons installed in passenger buses and school buses.
        Source: TOI

  4. Tripura Chief Minister Manik Saha launched an e-cabinet system at Agartala to promote digital infrastructure development and digitisation of government services and information.
      • Tripura has become the fourth state—and second in the Northeast—after Uttarakhand, Uttar Pradesh and Arunachal Pradesh, to have introduced an e-cabinet system.
      • The e-cabinet system is expected to eliminate delays caused by the physical movement of paper documents and to infuse dynamism in the government’s decision-making process.
      • The government had earlier introduced e-file and office systems in keeping with the Digital India campaign.
      • Implementation Agency – National Informatics Centre
        Source: IE
  5. Jammu & Kashmir has declared all its 6650 villages in 20 districts as ODF Plus Model during the ‘Swachhata Hi Seva’ Campaign.
      • When a village achieves a condition where it is visually clean with minimal litter and stagnant water, apart from solid and liquid waste management (SLWM) and adequate cleanliness awareness generation activities, it is declared as ODF plus Model.
      • India’s highest gallantry awardee, the Param Var Chakra recipient Captain Bana Singh, has been chosen as the ambassador for the “War Against Waste” initiative in Jammu & Kashmir.

      Efforts by J&K Administration –

      • Plastic Waste Management Units (PWMU) are being established in each block.
      • ‘Swachhata Bulletin’ has been launched to monitor and share daily updates on Information, Education, and Communication (IEC) activities conducted by districts
        Source: PIB
  6. Tamil Nadu Chief Minister M.K. Stalin has announced a cash reward of ₹25 lakh each for nine space scientists hailing from Tamil Nadu, in recognition of their outstanding contributions to the nation.
      • Additionally, a scholarship programme for nine engineering students pursuing graduation with financial assistance from the government was launched.
      • These scholarships will be named after the nine scientists.
      • It will be given to government school students under the state’s 7.5% reservation for them.
      • A corpus of ₹10 crore is set aside for the scholarship program.
      • Nine Scientists –
        • Former Indian Space Research Organisation (ISRO) chairperson K. Sivan
        • Former Director of ISRO’s Satellite Centre Mylswamy Annadurai;
        • Director of ISRO’s Liquid Propulsion Systems Centre V. Narayanan;
        • ISRO’s Launch Authorisation Board chief A. Rajarajan;
        • Director of U.R. Rao Satellite Centre M. Sankaran;
        • ISRO’s Propulsion Complex Director J. Asir Packiaraj;
        • Project Director of the Chandrayaan-2 lunar mission V. Vanitha;
        • Project Director of the Aditya-L1 mission Nigar Shaji; and
        • Chandrayaan-3 Project Director P. Veeramuthuvel
Source: The Hindu

  1. Assam is promoting pipe composting as an effective method for managing biodegradable waste at the household level during the Swachhata Hi Seva campaign.
      • Pipe composting technology is a method of converting organic waste into compost using PVC pipes 8 – 10 inches in diameter and 1.25 metres in length. The pipes are placed vertically keeping them 25-30 cm inside the ground.
      • Some of the benefits of pipe composting are –
        • it converts biodegradable waste into manure within a short time without harming the environment;
        • it helps maintain a clean and hygienic environment on the school campus;
        • it is odourless and fly-proof; and
        • it is space efficient
          Source: PIB

International News

  1. The Extended 45th Session of the World Heritage Committee was held in Riyadh, Saudi Arabia, from 10 to 25 September.
      • During the session, 42 new sites (33 cultural, 9 natural) were added on the UNESCO World Heritage List, bringing the total to 1199 (993 cultural, 227 natural, 39 mixed).
      • The Committee decided to remove the site of the Tombs of the Buganda Kings in Kasubi (Uganda) from the List of World Heritage in Danger, following the successful restoration work carried out by Uganda with UNESCO’s support.
      • Ukraine’s sites in Kyiv and L’viv were added into the List of World Heritage in Danger.
      • Sites from India included in the World Heritage Sites list
        • Sacred ensembles of Karnataka’s Hoysala Temples (Hoysala Temples of Belur, Halebid, and Somnathapura)
        • Santiniketan, a town in West Bengal
      • After addition, a total of 42 sites (34 cultural, 7 natural, and 1 mixed site) of India are listed on the UNESCO’s list.
        • The only Mixed (natural + cultural) site is Khangchendzonga National Park (2016) in Sikkim.

Source: UNESCO TOI WHS

  1. Iran’s Islamic Revolutionary Guard Corps (IRGC) launched its third military imaging satellite, Nour 3.
      • The satellite was launched from Iran’s Shahroud Spaceport.
        Source: Al Jazeera

  2. The Asian Development Bank (ADB) has approved significant capital management reforms, resulting in an additional $100 billion in funding capacity over the next decade.
      • These reforms are aimed at addressing multiple crises in the Asia-Pacific region, including the climate crisis.
      • ADB’s annual new commitments capacity will expand to over $36 billion, an increase of about 40%.
      • This expanded funding will be used to provide support for various critical development initiatives and climate change mitigation efforts.
        Source: ADB
  3. Indonesia has launched Southeast Asia’s first high-speed railway, which is funded by China.
      • This project was inaugurated by Indonesian President Joko Widodo.
      • The project is largely funded by China, as part of the Belt and Road infrastructure initiative.
        Source: The Hindu
  4. The “largest” statue of B R Ambedkar outside India has been constructed in Maryland, North America on October 14.
      • The 19-foot statue, named “Statue of Equality”, has been made by renowned artist and sculptor Ram Sutar, who also built the statue of Sardar Patel installed in Ahmedabad, Gujarat.
      • The statue of Ambedkar is part of the Ambedkar International Center (AIC).
        Source: Hindu
  5. The United Kingdom has awarded a £4 billion contract to BAE Systems, Rolls-Royce, and Babcock as part of the AUKUS program to design and manufacture nuclear-powered submarines for the Royal Navy.
Knowledge Nuggets -
• In September 2021, leaders of Australia, the United Kingdom, and the United States announced the creation of an enhanced trilateral security partnership called "AUKUS."
• AUKUS promotes deeper information sharing and technology sharing; and fosters deeper integration of security and defense-related science, technology, industrial bases and supply chains.

Source: Al Jazeera and US

Banking and Economy

  1. RBI has revoked the banking license of Nashik Zilla Girna Sahakari Bank Limited due to its inability to maintain adequate capital and sustain profitable operations.
      • This means the bank can no longer engage in banking activities, including accepting and repaying deposits, with immediate effect.
      • The Commissioner and Registrar of Cooperative in Maharashtra will oversee the bank’s closure and appoint a liquidator.
      • Depositors will be eligible to claim a deposit insurance amount, with a maximum limit of Rs 5 lakh, from the Deposit Insurance and Credit Guarantee Corporation (DICGC) upon the bank’s liquidation.
        Source: ET
  2. Karnataka Bank has partnered with SahiBandhu, an aggregator platform for gold loans, to launch a “doorstep gold loan” service named ‘KBL-Swarna Bandhu’.
      • The bank will offer gold loan services directly to customers at their doorstep. Initially, the service will be available in select bank branches and will gradually expand to all branches.
      • SahiBandhu will act as a corporate business correspondent and lending service provider in this partnership.
        Source: HBL
  3. The Department of Economic Affairs, Ministry of Finance has increased the interest rate for the small savings schemes for the Q3 of 2023-24.
Saving Schemes Interest Rates
Savings deposits 4%
1-year term deposit6.9%
2-year and 3-year term deposit7%
5-year term deposit7.5%
Senior citizens savings scheme 8.2%
Monthly income account scheme7.4%
National Savings Certificate 7.7%
Public Provident Fund (PPF) scheme 7.1%
Kisan Vikas Patra 7.5% (maturity - 115 months)
Sukanya Samriddhi Account 8%
Source: LiveMint

  1. The Securities and Exchange Board of India (SEBI) has extended the deadline for mutual fund unit holders to nominate their beneficiaries to December 31, 2023, from the previous deadline of September 30, 2023.
      • Further, with respect to demat accounts, SEBI has extended the last date for submission of ‘choice of nomination’ to December 31.
        Source: ET
  2. RBI has granted approval to the International Finance Corporation (IFC) to acquire a 9.7% stake in Federal Bank.
      • IFC is the member of the World Bank Group.
Source: LiveMint

  1. The Central government hiked special additional excise duty (SAED) on crude petroleum to ₹12,100 per tonne with effect from September 30.
      • The windfall tax on domestically produced crude oil was set at ₹10,000 per tonne.
      • Besides, the SAED or duty on export of diesel will be cut to ₹5 per litre, from ₹5.50 per litre currently.
      • India first imposed windfall profit taxes on July 1, 2022.
        Source: HBL

  2. National Bank for Agriculture and Rural Development (NABARD) announced the listing of its ‘Social Bonds’ on the Bombay Stock Exchange (BSE).
      • The bank had raised ₹1,040 crore through this offering.
      • The funds would be used to refinance the Jal Jeevan Mission (the Union government’s drinking water project) in Telangana.
        Source: The Hindu
  3. RBI has issued fresh instructions to banks not to receive any ₹2,000 currency notes from October 8 onwards.
      • However, the central bank reiterated that ₹2,000 banknotes will continue to be legal tender.
        Source: The Hindu

  4. From October 1, online gaming companies will charge 28% GST on full value of bets.
      • The offshore platforms would also be required to have GST registration to operate in India.
      • October 1 is the appointed date for the amended provisions in Central GST and Integrated GST laws to come into effect.
        Source: The Hindu
  5. HDFC Pension has launched a first-of-its-kind NPS Preference Index to highlight the preference for the National Pension Scheme amongst different consumer groups.
      • At present, the NPS Preference Index stands at 54 (on a scale of 0 to 100), which means that the index is currently at a moderate level.
      • Pillars of assessment of this index – familiarity, appeal and consideration
      • Observation of the index –
        • NPS Preference Index improves with increasing income level of the consumers.
        • North Indian region has the highest NPS preference index (score 57) compared to other regions
      • Methodology –
        • Face-to-Face personal interviews of people with annual household income above INR 10 lakhs (above INR 7 lakhs for Tier III cities) between Aug-Sep 2023 across 12 cities in India.

Knowledge Nuggets -
HDFC Pension -
• HDFC Pension is the fastest growing legacy Pension Fund Manager in India, under Retail and Corporate NPS segments with the highest number of subscribers as on September 1st, 2023.
• HDFC Pension has been awarded as the 'Best Performing PFM' by Money Today for 3 consecutive years from 2019 to 2022.
• HDFC Pension is licensed as a Pension Fund Manager (PFM) and as a Point of Presence (POP) under the National Pension Fund.
National Pension Scheme –
• NPS is a market-linked, defined contribution product.
• Under NPS, a unique Permanent Retirement Account Number (PRAN) is generated and maintained by the Central Recordkeeping Agency (CRA) for individual subscriber.
• NPS offers two types of accounts, namely Tier-I and Tier-II.
o Tier-I: This is a pension account with limited withdrawals, designed for long-term savings.
o Tier-II: A voluntary account offering more liquidity for investments and withdrawals, but it can only be opened if there's an active Tier-I account
• Exit - Upon retirement or superannuation, at least 40% of the corpus must be used to purchase a life annuity from a life insurance company, providing a lifelong pension. The remaining corpus can be taken as a lump sum.
• Different Models - NPS has various models tailored for different user segments, including government employees, corporate employees, and all citizens aged 18 to 65.
o Government Model: Mandatory for Central Government employees (excluding Armed Forces) recruited after 01.01.2004. It involves monthly contributions by employees and matching contributions from the government
o Corporate Model: Companies can adopt NPS for their employees with contribution rates as per employment conditions
o All Citizens Model: Allows all Indian citizens aged 18-65 to join NPS on a voluntary basis
• NPS Architecture – intermediaries appointed by the PFRDA viz. Pension Funds, Custodian, Central Recordkeeping Agency (CRA), National Pension System Trust, Trustee Bank, Points of Presence (PoP) and Annuity Service Providers (ASPs)
• NPS Tier I holders also get tax deductions.
Source: ANI and NPS

  1. The Insolvency and Bankruptcy Board of India (IBBI) celebrated its Seventh Annual Day on October 1.
      • Justice Shri Ashok Bhushan, Chairperson, National Company Law Appellate Tribunal, presided over the event.
      • As part of the Annual Day celebrations, IBBI released annual publication, “IBC: Evolution, Learnings and Innovation”.
      • A research publication, “Navdrishti: Emerging Ideas on IBC” was also released.
        • This publication is a compact collection of research papers from leading academicians and practitioners in the field of insolvency and bankruptcy, presented at the 2nd International Research Conference on Insolvency and Bankruptcy.
        • This Conference was held in association with IIM Bangalore at their campus in February 2023.

Knowledge Nuggets -
• The Insolvency and Bankruptcy Board of India (IBBI) was established on October 1, 2016, under the Insolvency and Bankruptcy Code, 2016.

• Objective of IBBI -
o to expedite the insolvency resolution process,
o maximize the value of assets of the entities undergoing insolvency,
o promote entrepreneurship, enhance access to credit, and
o ensure the interests of all stakeholders are balanced
• Functions -
o IBBI is a unique regulator with a dual role. It regulates both a specific profession (of Resolution Professionals) and the processes (insolvency and resolution) related to insolvency and bankruptcy.
o Regulation of Professionals -
 It has regulatory oversight over the Insolvency Professionals, Insolvency Professional Agencies, Insolvency Professional Entities and Information Utilities.
o Regulation of Processes -
 It writes and enforces rules for processes, namely, corporate insolvency resolution, corporate liquidation, individual insolvency resolution and individual bankruptcy under the Code.
• Chairperson of IBBI - Shri Ravi Mital

Source: PIB and IBBI

Reports and Indices

  1. The Times Higher Education World University Rankings 2024 has been released.
      • Parameters – teaching, research environment, research quality, industry, and international outlook
      • Top 5 Universities

  • India’s top universities –
    • 201-205 – IISc Bangalore
    • 501-600 – Anna University, Mahatma Gandhi University and Jamia Milia Islamia
  • Other facts –
    • The US is the most-represented country overall, with 169 institutions, and the most-represented in the top 200 (56). With 91 institutions, India is now the fourth most-represented nation, overtaking China (86).
    • Four countries enter the ranking for the first time – all of them in Europe. The addition of Kosovo, Bosnia and Herzegovina, North Macedonia and Armenia is in contrast to last year’s trend when all the new entrants were from Africa.
      Source: Times


  1. UNCTAD has released the Review of Maritime Transport 2023.
  2. Present Scenario –

    • As per the report, the shipping industry has seen a 20% increase in greenhouse gas emissions over the past decade.
    • The industry relies heavily on fossil fuels and operates an aging fleet.
    • Ahead of the upcoming UN climate conference (COP28), UNCTAD calls for achieving full decarbonization of the industry by 2050.
    • Despite challenges, such as the conflict in Ukraine, the report predicts a 2.4% growth in maritime trade in 2023 and over 2% growth between 2024 and 2028.

    Challenges –

    • Moving the shipping industry towards cleaner energy is estimated to cost between $8 billion to $28 billion annually for decarbonization by 2050.
    • For infrastructure supporting carbon-neutral fuels, the cost could be even higher, ranging from $28 billion to $90 billion per year. This full decarbonization could potentially double annual fuel costs.

Knowledge Nuggets -
• UNCTAD is a permanent intergovernmental body established by the United Nations General Assembly in 1964.
• UNCTAD is part of the UN Secretariat. It reports to the UN General Assembly and the Economic and Social Council. But the organization has its own membership, leadership, and budget.
• It is also part of the United Nations Development Group.
• Rebeca Grynspan of Costa Rica is the first woman and Central American to serve as UNCTAD’s secretary-general.
• Headquarters - Geneva, Switzerland

Source: UNCTAD and About UNCTAD

Defence News

  1. The Indian Air Force (IAF) has received the first of six new Dornier Do-228 aircraft manufactured by Hindustan Aeronautics Limited (HAL).
      • The Dornier-228 is versatile and well-suited for short-haul operations on semi-prepared or short runways, making it valuable for use in the northeastern and island regions of India
      • Cost of procurement – Rs 667 crore
      • Recently, the Indian Navy has provided a Dornier Do-228 maritime patrol aircraft to the Sri Lanka Air Force (SLAF).
        Source: ET
  2. Raksha Mantri Shri Rajnath Singh launched several digital initiatives of Defence Accounts Department (DAD) during its 276th Annual Day celebrations.
      • Initiatives
        • ‘SARANSH’ – Summary of Accounts, Budget and Expenditure for Raksha Mantralaya is a data analytics tool that provides a real-time comprehensive platform to visualize and analyze defence financial data.
        • BISWAS – Bill Information and Work Analysis System helps monitor and analyze bill management. It provides real-time analysis of bill processing, with interactive visualizations of data.
        • e-Raksha Awaas – a centralized software package that helps the Defence Services generate and collect rent and allied charges for buildings. It is a unified online platform for all stakeholders involved in the process.
      • Collaboration
        • Raksha Mantri recommended collaboration with reputed institutions like the IIMs and the ICAI to develop and adopt customised training modules
      • Awards –
        • Raksha Mantri Awards for Excellence 2023 were given to five team for implementing key department projects.
      • Projects include new training methodology, CBT systems, SARANSH dashboard, Dolphin 2.0 system, and KPIs for field offices.
        • Project Dolphin is a computer system that helps the Indian Army pay its soldiers. It is fast, accurate, and easy to use. This means that soldiers can get their pay sooner and more easily. Their payment-related grievances are also resolved quickly on this platform.
Knowledge Nuggets -
• Defence Accounts Department (DAD) functions under the administrative control of Ministry of Defence and is headed by Controller General of Defence Accounts.
• DAD is responsible for managing the finances of the Indian Armed Forces. This includes paying soldiers and civilians, paying for supplies and services, and accounting for all the money that is spent on the military.
Source: PIB CGDA DAD

  1. The Indian Air Force (IAF) has placed two contracts with Bharat Dynamics Ltd. (BDL) for the indigenous Astra Beyond Visual Range (BVR) air-to-air missile.
      • The IAF plans to conduct the Astra missile’s deployment by the end of 2023.
      • This missile, developed domestically with a range of over 100 km, is a significant addition to India’s defence capabilities, enhancing its air-to-air combat capabilities.
      • The more advanced and longer-range Astra-Mk2 is under development.
        Source: Hindu

  2. Indian Air Force has presented a proposal to acquire three airborne intelligence gathering aircraft under a project that will see the development of indigenous sensor technologies and systems.
      • The new airborne intelligence, surveillance, target acquisition and reconnaissance (ISTAR) platform will be able to map out battlefields and monitor enemy movements in real time.
      • This will cost ₹6,000 crore project.
      • Recently, the air force cleared the acquisition of more indigenous ‘Netra’ early warning and control aircraft to its fleet.
      • Six additional aircraft are planned to be acquired by the air force as part of a $1 billion plan to add force multipliers in the air force.
        Source: ET

  3. India and Bangladesh commenced the 11th edition of annual joint military exercise, SAMPRITI in Umroi, Meghalaya.
      • The exercise underscores the importance of enhancing interoperability between the two armies, sharing tactical drills, and promoting best practices.
        Source: NoA

Agriculture and Rural Development

  1. Prime Minister Narendra Modi has announced the setting up of a National Turmeric Board in Telangana and, also ₹900 crore Sammakka-Sarakka Central Tribal University in Mulug.
      • The Turmeric Board aims to support farmers in the region by providing necessary infrastructure, value addition, research facilities, and professional assistance for exports.
      • Prime Minister laid foundation stones for projects worth over ₹13,500 crore in Mahabubnagar on October 1.
        Source: Hindu

Awards

  1. Kantar BrandZ Most Valuable Indian Brands 2023 (10th edition) list has been released.
      • The International Monetary Fund is predicting growth of 6.1% for India in 2023
      • Top 5
        • Tata Consultancy Services (for the 2nd year) with a brand value of $43 billion
        • HDFC Bank
        • Infosys
        • Airtel
        • SBI
      • There are four newcomers and two re-entrants in the 2023 ranking, including PhonePe, Cred, ShareChat, and Star.
      • The combined brand value of India’s top 75 brands is $379 billion, a 4% decline from 2022, attributed to global economic volatility.
      • Financial services brands grew by 6%, driven by digital banking. Axis Bank and ICICI Bank are among the top brands in this category.
        Source: ET

  2. The President of India, Smt Droupadi Murmu presented the National Service Scheme Awards for the year 2021-2022 at Rashtrapati Bhavan.
      • Winners under Programme coordinator/Officer category

NameInstitution
Dr Ramvir Singh ChauhanDr. Bhimrao Ambedkar University, Agra (Uttar Pradesh)
Dr Mitali KathkatiaDakshin Kamrup Girls’ College, Mirza (Assam)
Dr Ranjana SharmaPost Graduate Govt. College for Girls, Chandigarh
Dr Malkiat SinghGovernment Degree College, Dharamshala, Kangra (Himachal Pradesh)
Dr Raghavendra RSeshadripuram Degree College, Mysuru (Karnataka)
Dr S. LekshmiSanatana Dharma College, Alappuzha (Kerala)
Dr Indira Barman Institute for Excellence in Higher Education, Bhopal (Madhya Pradesh)
Dr Pawan Ramesh Naik Kewalramji Harde Mahavidyalaya, Chamorshi (Maharashtra)
Joseph Vanlalhuraia Sailo Synod Higher Secondary School, Aizawl (Mizoram)
Dr Renu Bisht Bhartiya Shaheed Sainik Vidhyalaya, Nainital (Uttarakhand)
Babita Prasad Surya Sen Mahavidyalaya, Siliguri (West Bengal)
Source: NSS

  1. Ruixiang Zhang, Assistant Professor, University of California, Berkeley, USA will be awarded with the 2023 SASTRA Ramanujan Prize for his outstanding contributions in mathematics.
      • The annual cash prize of USD 10,000 will be given at an International Conference in Number Theory during December 20 and December 22 at SASTRA University in Kumbakonam, mathematician Srinivasa Ramanujan’s hometown.
      • The age limit for the prize has been set at 32, influenced by Ramanujan’s achievements in his brief life of 32 years.
        Source: The Hindu
  2. International Olympic Committee (IOC) has announced the winners of the 1st edition of the Climate Action Awards, recognising the athletes, International Federations (IFs) and National Olympic Committees (NOCs) who are taking tangible steps to tackle the climate crisis.
      • Winners
        • Athletes – Marcus Mepstead (fencing, Great Britain) and Paloma Schmidt (sailing, Peru)
        • NOCs – World Rugby, World Sailing, the Colombian Olympic Committee and the Spanish Olympic Committee
      • Categories of awards – sustainable travel, innovation, and athlete advocacy
      • The awards are supported by Worldwide Olympic and Paralympic Partners Airbnb, Deloitte and P&G.
        Source: Olympics.com
  3. Nobel Prizes 2023 –
CategoryWinner Reason
PhysicsPierre Agostini (France) Ferenc Krausz (Hungarian-Austrian) Anne L’Huillier (French) “For experimental methods that generate attosecond pulses of light for the study of electron dynamics in matter”
Physiology or MedicineKatalin Karikó (Hungarian American) Drew Weissman (American) “For their discoveries concerning nucleoside base modifications that enabled the development of effective mRNA vaccines against COVID-19”

Source: Nobel

Important Days

  1. September 29 – International Day of Awareness on Food Loss and Waste Reduction; Theme – “Reducing food loss and waste: Taking Action to Transform Food Systems”
    Source: UN
  2. September 30 – International Translation Day (to honour Saint Jerome, the Bible translator); Theme – ‘Translation unveils the many faces of humanity’
    Source: ET
  3. October 2 – 154th birth anniversary of Mahatma Gandhi
    Source: Wion

Sports

  1. 19th Asian Games highlights –
      • SHOTPUT – Kiran Baliyan has become the first Indian woman to win an Asian Games medal in shot put event in 72 years.
        • Tajinderpal Singh Toor wins gold in Shotput.
      • SQUASH – Indian women’s squash team comprised of Joshna Chinappa, Tanvi Khanna and Anahat Singh won bronze medal after losing to Hong Kong, China, in the semifinals.
        • India’s men’s team won the gold medal at the Asian Games squash.
      • ATHLETICS – Indian long-distance runners Kartik Kumar and Gulveer Singh bagged a silver and bronze medal respectively in the men’s 10,000 metre race.
        • Avinash Sable won gold in Asian Games 3000m steeplechase.
        • Parul Chaudhary won silver in 3000m steeple chase.
        • Race – Harmilan Bains (women’s 1500m), Murali Sreeshankar (men’s long jump), Ajay Kumar Saroj (men’s 1500m) and Jyothi Yarraji (women’s 100m hurdles) won silver.
      • SHOOTING – Indian shooting duo of Sarabjot Singh and Divya Subbaraju won silver medal in the mixed 10m air rifle pistol team event at the ongoing Asian Games in Hangzhou.
      • TENNIS – The mixed doubles tennis pair of Rohan Bopanna and Rutuja Bhosale defeated Chinese Taipei pair En-shuo Liang and Tsung-hao Huang in the finals to win the gold medal.
      • TABLE TENNIS Ayhika Mukherjee and Sutirtha Mukherjee won the bronze medal in women’s table tennis doubles event. This is first ever medal in the women’s doubles event by India at the Asian Games.
      • BADMINTON – Indian Men’s Badminton Team won the silver medal, with China winning the gold
        Source: TOI ET TOI The Hindu LiveMint Sportstar Hindu Hindu ET TOI

Memorandum of Understanding

  1. The Indian Railways has signed a supply contract with Kinet Railway Solutions, a joint venture between Russian companies Metrowagonmash (MWM) and Locomotive Electronic Systems (LES), along with India’s Rail Vikas Nigam Limited (RVNL), to produce Vande Bharat trains.
      • Kinet Railway Solutions will manufacture and maintain 120 Vande Bharat passenger sleeper train sets, as well as provide maintenance services for 35 years.
        Source: TOI

Appointments

  1. Chipmaker Intel has promoted Gokul Subramaniam to the post of Intel India president.
      • Intel’s headquarters – California, USA
      • Intel’s Global CEO – Patrick Gelsinger
        Source: LiveMint and Intel
  2. RBI cleared the appointment of K N Madhusoodanan as a part-time chairman of Kerala-based Dhanlaxmi Bank.
    Source: BS
  3. N. Shanth Kumar of The Printers (Mysore) Pvt. Ltd was elected Chairman of the Press Trust of India for a one-year term.
    Source: The Hindu
  4. Mohamed Muizzu has won the Presidential election in Maldives.
    Source: LiveMint

Miscellaneous

  1. Ashwin Dani, former vice chairman and managing director of India’s largest paints company Asian Paints, has passed away.
    Source: ET
  2. Prime Minister Narendra Modi has released books revolving around the success of India’s G20 presidency.
      • Books –
        • The Grand Success of G20 Bharat Presidency: Visionary Leadership,
        • Inclusive Approach; India’s G20 Presidency: Vasudhaiva Kutumbakam; and,
        • Compendium of G20 University Connect Programme.
          Source: BW


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About Anuj Jindal

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Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 5 years of experience in the field of Education.

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