08th-10th October, 2022

1. The central government has set up two advisory committees to resolve the challenges in the steel industry to achieve the target of 300 million tonnes of production capacity by 2030.
2. India’s first 4.20-MW wind turbine generator, a single unit with the largest generation capacity, has been installed in Tirunelveli district, Tamil Nadu.
3. Indian Railways has announced to become a net-carbon emission-free industry by 2030 to contribute to India’s Nationally Determined Contributions (NDC).
4. Directorate General of Training (DGT), under the Ministry of Skill Development and Entrepreneurship, has launched the Bharatskills Forum, a new feature to allow sharing of books, notes, videos, a question bank, etc. for skill learners.
5. Union Minister for Power and New and Renewable Energy RK Singh has unveiled the curtain raiser to the 5th Assembly of the International Solar Alliance in New Delhi from October 17-20, 2022.
6. The central govt has constituted a nine-member Task Force for monitoring Cheetah introduction in Kuno National Park in Madhya Pradesh and other suitable designated areas.
7. Gujarat CM Bhupendra Patel has launched the ‘Aatmanirbhar Gujarat Scheme for Assistance to Industries’ to bolster the manufacturing sector in the state.
8. DRDO has tested three remotely unmanned, weaponised boats at Bhama Askhed Dam in Pune, Maharashtra.
9. An international team of researchers has found new evidence for the possible existence of liquid water beneath the south polar ice cap of Mars.
10. The European Parliament has approved new rules to introduce the world’s first single charging port in the European Union for mobile phones, tablets and cameras by 2024.
11. Ministerial dialogue of the US-India Strategic Clean Energy Partnership (USISCEP) will be held in the United States from October 7 to 11 this year.
12. 8th G20 Parliamentary Speaker’s Summit was held in Jakarta, Indonesia.
13. World Bank has released the “Poverty and Shared Prosperity 2022: Correcting Course” report to assess the COVID pandemic’s impact on poverty in developing countries.
14. Karnataka Bank has launched a special campaign ‘KBL Utsav 2022-23’ for home loans, car loans and gold loans from October 1 to 31 to cater to the demands of customers during the festival season.
15. Amazon has announced the setting up of its first solar plant of 420 MW in India.
16. The Ministry of Finance has expanded the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) to enhance the maximum loan under the scheme.
17. ICICI Bank has launched ‘Smart Wire’ online solution to help its customers carry out SWIFT-based inward remittances in a faster and hassle-free manner.
18. Unity Small Finance Bank has launched a special FD scheme named Shagun 501 on the occasion of Dussehra and Diwali.
19. IDBI Bank has launched several digital solutions such as ONDC Sellers App to enable merchants on-board onto the Open Network Digital Commerce (ONDC) platform.
20. HDFC Bank has partnered with Mintoak Innovations India to launch the SmartHub Vyapar Merchant app, a payments and banking solution for small and medium-sized businesses.
21. RBI has asked Credit Information Companies to designate an internal ombudsman (IO) by April 1, 2023 too enhance the effectiveness of its grievance redressal systems.
22. RBI Governor Shaktikanta Das has launched a new ‘SupTech’ initiative called DAKSH to make the supervisory processes more robust.
23. Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has launched Credit Guarantee Scheme for Startups (CGS(CGSS) for providing credit guarantees to loans extended by Scheduled Commercial Banks, NBFC and SEBI registered Alternative Investment Funds (AIFs).
24. Central Government and LIC have announced the sale of a total of 60.72% stake in the IDBI Bank.
25. World Bank has reduced India’s GDP forecast for 2022-23 to 6.5% in its South Asia Economic Focus report.
26. Kishore Kumar Poludasu has been appointed as the new MD and CEO of SBI General Insurance.
27. Sujoy Lal Thaosen has been appointed as the 37th Director General of the Central Reserve Police Force (CRPF).
28. Mohit Bhatia has been appointed as the new CEO of Bank of India Investment Managers Pvt Ltd.
29. Walkaroo (clothes brand) has appointed Ajay Devgn as its brand ambassador.
30. A Balasubramanian (MD & CEO of Aditya Birla Sun Life Mutual Fund) has been re-elected as the Chairperson of the Association of Mutual Funds in India (AMFI).
31. Gulf Oil Lubricants has appointed Smriti Mandhana as the brand ambassador.
32. RBI has approved the appointment of Prashant Kumar as MD and CEO of Yes Bank for three years with effect from October 6, 2022.
33. October 7 – World Cotton Day; Theme – Weaving a better future for cotton
34. October 8 – Indian Air Force Day
35. SASTRA Ramanujan Prize has been conferred upon Yunqing Tang (an Assistant Professor at the University of California).
36. French author Annie Ernaux has won the Nobel Peace Prize in Literature 2022.
37. Tel Aviv Watergen Open (Men’s tennis tournament) winner – Men’s Singles: Novak Djokovic (Serbia)
38. All India Football Federation (AIFF) has signed an MOU with the South Asian Football Federation (SAFF) for promoting football activities in India.
39. “Against All Odds: The IT Story of India” book has been authored by Kris Gopalakrishnan, Dayasindhu, and Krishnan Narayanan.

National News

1. The central government has set up two advisory committees to resolve the challenges in the steel industry to achieve the target of 300 million tonnes of production capacity by 2030.
2. India’s first 4.20-MW wind turbine generator, a single unit with the largest generation capacity, has been installed in Tirunelveli district, Tamil Nadu.
   • It was established Brazilian company WEG Industries Pvt Ltd.
3. Indian Railways has announced to become a net-carbon emission-free industry by 2030 to contribute to India’s Nationally Determined Contributions (NDC).
   • One of the most vital transportation emissions mitigation strategies agreed to by the Government of India was increasing the share of Indian Railways in the movement of freight from the current ~35-36% to 45% by 2030.
4. Directorate General of Training (DGT), under the Ministry of Skill Development and Entrepreneurship, has launched the Bharatskills Forum, a new feature to allow sharing of books, notes, videos, a question bank, etc. for skill learners.
   • This facility shall act as a digital warehouse for the skilling community by allowing sharing of contents in various forms like handwritten trainers’ or trainees’ notes, PDFs, scanned copies, or recorded videos in any language.
   • The forum has been launched on the Bharatskills platform. The Bharatskills platform was launched in 2019 for providing skills concerning Industrial Training Institutes (ITI) ecosystems.
5. Union Minister for Power and New and Renewable Energy RK Singh has unveiled the curtain raiser to the 5th Assembly of the International Solar Alliance in New Delhi from October 17-20, 2022.
   • India holds the office of the President of the ISA Assembly.
   • The International Solar Alliance is an international organisation with 109 member and signatory countries.
   • ISA aims to attract investment of up to $1 trillion in solar energy by 2030.
6. The central govt has constituted a nine-member Task Force for monitoring Cheetah introduction in Kuno National Park in Madhya Pradesh and other suitable designated areas.
   • The nine-member task force will include Principal Secretaries, Forests and Tourism of Madhya Pradesh, and the Inspector General of NTCA (Dr Amit Mallick).

State News

1. Gujarat CM Bhupendra Patel has launched the ‘Aatmanirbhar Gujarat Scheme for Assistance to Industries’ to bolster the manufacturing sector in the state.
   • The scheme will provide incentives to the manufacturing units.

Defence News

1. DRDO has tested three remotely unmanned, weaponised boats at Bhama Askhed Dam in Pune, Maharashtra.
   • The boats were developed by Sagar Defence Engineering.

International News

1. An international team of researchers has found new evidence for the possible existence of liquid water beneath the south polar ice cap of Mars.
   • The results are published in the journal Nature Astronomy.
   • The University of Cambridge led this research.
2. The European Parliament has approved new rules to introduce the world’s first single charging port in the European Union for mobile phones, tablets and cameras by 2024.
   • It aims to minimize e-waste and empower customers to make more sustainable choices.
3. Ministerial dialogue of the US-India Strategic Clean Energy Partnership (USISCEP) will be held in the United States from October 7 to 11 this year.
   • The Ministerial Dialogue will be co-chaired by Union Minister of Petroleum and Natural Gas and Housing and Urban Affairs Hardeep Singh Puri and US Secretary of Energy Jennifer Granholm.
   • The USISCEP was launched based on the US-India Climate and Clean Energy Agenda Partnership 2030, which was launched by US President Joe Biden and Indian PM Narendra Modi at the Leaders’ Summit on Climate Change in April 2021.
   • The USISCEP focuses on 5 pillars – responsible oil and gas pillar, power and energy efficiency pillar, renewable energy pillar, sustainable growth pillar and emerging fuels and technologies pillar.
4. 8th G20 Parliamentary Speaker’s Summit was held in Jakarta, Indonesia.
   • The Lok Sabha speaker Om Birla attended the summit.
   • The parliaments of the G-20 countries are organised as P-20. It accounts for 80% of global GDP and 75% of global trade. It also accounts for two-thirds of the world’s population.

Reports and Indices

1. World Bank has released the “Poverty and Shared Prosperity 2022: Correcting Course” report to assess the COVID pandemic’s impact on poverty in developing countries.
   • The pandemic pushed over 719 million people (9.3% of the global population) were living in extreme poverty.
   • The poverty alleviation efforts have been overturned by the pandemic.
   • Extreme poverty is defined as the number of people living on less than $2.15 per day.

Banking and Economy

1. Karnataka Bank has launched a special campaign ‘KBL Utsav 2022-23’ for home loans, car loans and gold loans from October 1 to 31 to cater to the demands of customers during the festival season.
2. Amazon has announced the setting up of its first solar plant of 420 MW in India.
3. The Ministry of Finance has expanded the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) to enhance the maximum loan under the scheme.
   • The loan limit under the scheme has been raised to ₹1,500 crores from ₹400 crores for the civil aviation sector.
4. ICICI Bank has launched ‘Smart Wire’ online solution to help its customers carry out SWIFT-based inward remittances in a faster and hassle-free manner.
   • The facility allows both NRIs and resident customers to undertake inward remittance transactions in an online and paperless way.
5. Unity Small Finance Bank has launched a special FD scheme named Shagun 501 on the occasion of Dussehra and Diwali.
   • The FD scheme offers a 7.90% interest rate for 501 days.
6. IDBI Bank has launched several digital solutions such as ONDC Sellers App to enable merchants on-board onto the Open Network Digital Commerce (ONDC) platform.
   • IDBI Bank has also launched DigiKCC platform for digitization of the Kisan Credit Card (KCC) loan process to make it more convenient for borrowers.
   • IDBI Bank has upgraded its mobile banking app, GO Mobile+ for the benefit of its senior citizen customers by introducing door-step banking under the ‘Naman’ page of the app.
7. HDFC Bank has partnered with Mintoak Innovations India to launch the SmartHub Vyapar Merchant app, a payments and banking solution for small and medium-sized businesses.
   • The app will enable merchants to accept interoperable payments across multiple payment modes which include Cards, UPI and QR codes.
8. RBI has asked Credit Information Companies to designate an internal ombudsman (IO) by April 1, 2023 too enhance the effectiveness of its grievance redressal systems.
   • Currently, there are four CICs — Credit Information Bureau (India) Ltd (CIBIL), Equifax Credit Information Services Pvt Ltd, Experian Credit Information Company of India Pvt Ltd and CRIF High Mark Credit Information Services Pvt Ltd. – in India.
9. RBI Governor Shaktikanta Das has launched a new ‘SupTech’ initiative called DAKSH to make the supervisory processes more robust.
   • This application will act as the bank’s advanced supervisory monitoring system, which will help in improving the compliance culture in Supervised Entities (SEs) like Banks, NBFCs, etc.
10. Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has launched Credit Guarantee Scheme for Startups (CGS(CGSS) for providing credit guarantees to loans extended by Scheduled Commercial Banks, NBFC and SEBI registered Alternative Investment Funds (AIFs).
    • Purpose – to provide credit guarantee up to a specified limit against loans extended by Member Institutions (MIs) to finance eligible borrowers viz. Startups
    • If the sanctioned loan amount is up to Rs 3 crores, the credit guarantee would be 80%. For the amount of up to Rs 3-5 crores, the guarantee cover would be 75%, and 65% for the loan between Rs 5-10 crores per borrower.
    • The umbrella-based guarantee cover will provide a guarantee to Venture Debt Funds (VDF) registered under AIF.
    • The extent of umbrella-based cover will be the actual losses or up to a maximum of 5% of Pooled Investment on which cover is being taken from the fund in eligible startups, whichever is lower, subject to a maximum of 10 crore per borrower.
11. Central Government and LIC have announced the sale of a total of 60.72% stake in the IDBI Bank.
    • The government and LIC hold a 94.72% stake together in IDBI Bank.
    • LIC holds 49.24% and govt holds a 45.48% stake in IDBI Bank. The remaining stake is held by the public shareholders.

GDP Forecasts

1. World Bank has reduced India’s GDP forecast for 2022-23 to 6.5% in its South Asia Economic Focus report.
   • GDP for 2023-24 – 7%
   • GDP for 2024-25 – 6.1%

Appointments

1. Kishore Kumar Poludasu has been appointed as the new MD and CEO of SBI General Insurance.
2. Sujoy Lal Thaosen has been appointed as the 37th Director General of the Central Reserve Police Force (CRPF).
   • CRPF’s motto – “tejsvi navdhitmastu” (meaning “Let Brilliance Emerge out of our Endeavours”)
3. Mohit Bhatia has been appointed as the new CEO of Bank of India Investment Managers Pvt Ltd.
4. Walkaroo (clothes brand) has appointed Ajay Devgn as its brand ambassador.
5. A Balasubramanian (MD & CEO of Aditya Birla Sun Life Mutual Fund) has been re-elected as the Chairperson of the Association of Mutual Funds in India (AMFI).
6. Gulf Oil Lubricants has appointed Smriti Mandhana as the brand ambassador.
7. RBI has approved the appointment of Prashant Kumar as MD and CEO of Yes Bank for three years with effect from October 6, 2022.

Important Days

1. October 7 – World Cotton Day; Theme – Weaving a better future for cotton
2. October 8 – Indian Air Force Day

Awards

1. SASTRA Ramanujan Prize has been conferred upon Yunqing Tang (an Assistant Professor at the University of California).
   • Reason – for her works in arithmetic and geometry of modular curves and Shimura varieties
2. French author Annie Ernaux has won the Nobel Peace Prize in Literature 2022.
   • Nobel Peace Prize is given in Oslo, Norway. All the other prizes are given in Stockholm.

Sports

1. Tel Aviv Watergen Open (Men’s tennis tournament) winner – Men’s Singles: Novak Djokovic (Serbia)
2. All India Football Federation (AIFF) has signed an MOU with the South Asian Football Federation (SAFF) for promoting football activities in India.

Miscellaneous

1. “Against All Odds: The IT Story of India” book has been authored by Kris Gopalakrishnan, Dayasindhu, and Krishnan Narayanan.

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