13th October, 2022

1. The 2nd edition of the UN World Geo Spatial International Congress was organised in Hyderabad, Telangana by the Department of Science and Technology and United Nations Committee of Experts on Geo Spatial Information Management.
2. Union Home Minister Amit Shah has unveiled a 15-feet high statue of late socialist icon Jayaprakash Narayan (politician of Janata Party) at his ancestral village of Sitab Diara in Saran district of Bihar on the occasion of his 120th birth anniversary.
3. Tipu Express, a train running between Bengaluru and Mysuru, has been renamed as the ‘Wodeyar Express’ by the railway ministry.
4. Tamil Nadu has inaugurated first of its kind liquified compressed natural gas station in Ranipet district.
5. Delhi government has launched ‘Delhi e-monitoring’ app to monitor the ongoing and upcoming development projects across the union territory.
6. Odisha Government, in partnership with FIFA, has launched the Football For All Initiative to promote football among the school children.
7. Eknath Shinde faction of Shivsena has named itself as Balasahebanchi Shiv Sena.
8. NMDC (based in Hyderabad) has signed an MOU with the RailTel Corporation of India for receiving the information and communication technology (ICT).
9. NASA has announced to launch Dragonfly Rotorcraft on Titan -the largest moon of Saturn – in 2027.
10. North Atlantic Treaty Organisation (NATO) is planning to organise ‘Steadfast Noon’ nuclear exercise.
11. NewSpace India limited, a CPSE under Department of Space, has signed an agreement with OneWeb for launching the OneWeb LEO broadband communication satellite on the GSLV Launch Vehicle Mark 3 (GSLV MK-III) – ISRO’s heaviest launcher.
12. Life Insurance Corporation of India has reduced its stake in United Nilgiri Tea to 7.6%.
13. State Bank of India has unveiled its Next-Gen Contact Centre Service to provide enhanced services and a good experience to customers.
14. National Payment Corporation of India has launched the ‘NPCI Partner Program’ to collaborate with the technology service providers, application service providers, and other similar entities to explore new technological solutions.
15. IDBI Bank has signed an MOU with Vayana Network for digitising the supply chain financing and increasing its reach in India.
16. RBI has cancelled the licence of Pune-based Seva Vikas Cooperative Bank due to its insufficient capital.
17. Daksh Unmanned Systems Private Limited (a Chennai based students startup) has developed India’s First Petrol Operated Drone named as ‘DH-Agrigator’ for agriculture use.
18. Mahendra Singh Dhoni has launched an indigenous camera drone named as ‘Droni’ during the Global Drone Expo in Chennai, Tamil Nadu.
19. Organisation for Economic Cooperation and Development (OECD) has released the Crypto Assets Reporting Framework (CARF), which calls for the reporting of the crypto data.
20. Reserve Bank of India (RBI) has announced that managing directors (MDs) and chief executive officers (CEOs) of asset reconstruction companies (ARCs) cannot have more than 3 terms in office, with each term not exceeding five years.
21. RBI has modified and consolidated guidelines for banks on unhedged foreign currency exposures of any entity to prevent losses due to heightened volatility in the forex market.
22. Reserve Bank of India (RBI) has allowed standalone primary dealers (SPD) to offer all foreign exchange market-making facilities to users to provide broader facilities to customers for currency risk management.
23. Road Transport and Highways Minister Nitin Gadkari launched Toyota’s first of its kind pilot project on Flexi-Fuel Strong Hybrid Electric Vehicles in India.
24. Nomura (a Japanese brokerage firm) has forecasted a 7% GDP growth rate for India in FY23.
25. International Monetary Fund (IMF) has released the World Economic Outlook-October 2022 report.
26. Vinayak Godse has been appointed as the new CEO of Data Security Council of India.
27. Ananth Narayan Gopalkrishnan has been appointed as the Whole Time Member of SEBI.
28. Justice Dhananjay Yashwant Chandrachud will become the 50th Chief Justice of India in November 2022.
29. October 8 – World Hospice and Palliative Care Day; Theme– Healing Hearts and Community
30. Harmanpreet Kaur has become the ICC Player of the Month for September 2022 in women’s category.
31. Magnus Carlsen has won Julius Baer Generation Cup (an online chess tournament).

National News

1. The 2nd edition of the UN World Geo Spatial International Congress was organised in Hyderabad, Telangana by the Department of Science and Technology and United Nations Committee of Experts on Geo Spatial Information Management.
   • Theme– Geo-Enabling the Global Village: No One Should Be Left Behind
   • The UN Economics and Social Council (ECOSOC) created the Committee of Experts on Global Geo Spatial Information Management in 2011. The committee operates under the UN Department of Economic and Social Affairs.
   • The first edition of the UN World Geo Spatial information Congress was held in 2018 in China.
2. Union Home Minister Amit Shah has unveiled a 15-feet high statue of late socialist icon Jayaprakash Narayan (politician of Janata Party) at his ancestral village of Sitab Diara in Saran district of Bihar on the occasion of his 120th birth anniversary.
   • The Dream of Revolution: A Biography of Jayaprakash Narayan is authored by Dr Bimal Prasad and Sujata Prasad.
3. Tipu Express, a train running between Bengaluru and Mysuru, has been renamed as the ‘Wodeyar Express’ by the railway ministry.

State News

1. Tamil Nadu has inaugurated first of its kind liquified compressed natural gas station in Ranipet district.
2. Delhi government has launched ‘Delhi e-monitoring’ app to monitor the ongoing and upcoming development projects across the union territory.
3. Odisha Government, in partnership with FIFA, has launched the Football For All Initiative to promote football among the school children.
   • FIFA is sponsoring this initiative in partnership with Kalinga Institute of Industrial Technology and Kalinga Institute of Social Sciences.
   • Under this initiative, footballs will be distributed among the school children.
4. Eknath Shinde faction of Shivsena has named itself as Balasahebanchi Shiv Sena.
   • Election Commission of India has also allotted the poll symbol of ‘two swords and a shield’ to this new party.

Memorandum of Understanding

1. NMDC (based in Hyderabad) has signed an MOU with the RailTel Corporation of India for receiving the information and communication technology (ICT).

International News

1. NASA has announced to launch Dragonfly Rotorcraft on Titan -the largest moon of Saturn – in 2027.
   • It is expected to land on the Selk crater region on Titan in 2034.
   • It will be the first flying machine to be launched by humans in the outer solar system.
   • It would research on the composition of Titan.

2. North Atlantic Treaty Organisation (NATO) is planning to organise ‘Steadfast Noon’ nuclear exercise.
   • The exercise will see participation of fighter jets capable of carrying nuclear warheads and other such weapons. However, there will not be any live bombing.
   • 14 out of the 30 members of NATO will participate in the exercise, which is expected to be held a thousand km away from Russia.
   • Finland and Sweden have not yet joined NATO.

Banking and Economy

1. NewSpace India limited, a CPSE under Department of Space, has signed an agreement with OneWeb for launching the OneWeb LEO broadband communication satellite on the GSLV Launch Vehicle Mark 3 (GSLV MK-III) – ISRO’s heaviest launcher.
2. Life Insurance Corporation of India has reduced its stake in United Nilgiri Tea to 7.6%.
3. State Bank of India has unveiled its Next-Gen Contact Centre Service to provide enhanced services and a good experience to customers.
   • Customers can avail various services related to accounts ATM cards check book, emergency services etc. through this service.
4. National Payment Corporation of India has launched the ‘NPCI Partner Program’ to collaborate with the technology service providers, application service providers, and other similar entities to explore new technological solutions.
5. IDBI Bank has signed an MOU with Vayana Network for digitising the supply chain financing and increasing its reach in India.
   • Supply chain financing is a form of financial transaction wherein a third party (like a bank or a lending institution) provides immediate liquidity to the suppliers on behalf of the customer on the basis of the invoice.
6. RBI has cancelled the licence of Pune-based Seva Vikas Cooperative Bank due to its insufficient capital.
   • RBI has imposed a penalty of Rs 48 lakhs on Kerala State Cooperative Bank for its non-compliance with the section 56 of the Banking Regulation Act of 1949.
   • Section 56 applies to the cooperative societies.
7. Daksh Unmanned Systems Private Limited (a Chennai based students startup) has developed India’s First Petrol Operated Drone named as ‘DH-Agrigator’ for agriculture use.
   • The Daksh startup is also planning to set up its manufacturing unit at Ambattur in Chennai.
   • Madras Institute of Technology’s Aerospace Department has offered the research and development support to the Daksh startup.
   • Anna University is providing drone pilot training courses to the students who have passed class 10th.
8. Mahendra Singh Dhoni has launched an indigenous camera drone named as ‘Droni’ during the Global Drone Expo in Chennai, Tamil Nadu.
   • The drone has been manufactured by Garuda Aerospace Private Limited.
   • MS Dhoni is the brand ambassador of the Garuda Aerospace.
   • Garuda Aerospace has also developed the ‘Kisan drone’, a battery powered drone, to spread pesticides on a land area of 30 acres per day for the agriculture use.
9. Organisation for Economic Cooperation and Development (OECD) has released the Crypto Assets Reporting Framework (CARF), which calls for the reporting of the crypto data.
   • The framework provides a definition of the crypto assets, crypto entities, and crypto data that needs to be reported.
   • Entities -The framework mandates the crypto asset firms (including crypto exchanges and intermediaries like brokers) to report to the country in which they operate.
   • Assets– The framework defines crypto assets as any assets that are held and transferred in a decentralized manner without the involvement of traditional financial intermediaries. The crypto assets include crypto derivatives, stable coins, and non-fungible tokens. The framework does not include Central Bank digital currency and cryptography entities.
   • Data– exchanges between crypto assets and Fiat currency, exchanges between one or more types of crypto assets, use of crypto as a currency of exchange.
10. Reserve Bank of India (RBI) has announced that managing directors (MDs) and chief executive officers (CEOs) of asset reconstruction companies (ARCs) cannot have more than 3 terms in office, with each term not exceeding five years.
    • In addition, the retirement age of CEOs will be 70 years.
    • Requirement of net-owned funds (NOFs) for ARCs has been increased to Rs 300 crore, from the existing requirement of Rs 100 crore in a phased manner.
    • NOF has been increased to Rs 200 crore by March 2024 and to Rs 300 crore by March 2026.
11. RBI has modified and consolidated guidelines for banks on unhedged foreign currency exposures of any entity to prevent losses due to heightened volatility in the forex market.
    • The RBI has, from time to time, issued several guidelines, instructions and directives to the banks on Unhedged Foreign Currency Exposure (UFCE) of the entities, which have borrowed from banks.
    • These instructions shall come into force from January 1, 2023.
12. Reserve Bank of India (RBI) has allowed standalone primary dealers (SPD) to offer all foreign exchange market-making facilities to users to provide broader facilities to customers for currency risk management.
    • At present, Standalone Primary Dealers (SPDs) are permitted to undertake foreign currency business for limited purposes. Currently, there are seven SPDs and 14 bank primary dealers in the country.
    • SPDs will also be permitted to take up trading and self-clearing membership with Sebi-approved stock exchanges and clearing corporations for undertaking proprietary transactions in equity and equity derivatives market.
13. Road Transport and Highways Minister Nitin Gadkari launched Toyota’s first of its kind pilot project on Flexi-Fuel Strong Hybrid Electric Vehicles in India.
    • These vehicles will run on 100% petrol as well as 20% to 100% blended ethanol and electric power.

GDP Forecasts

1. Nomura (a Japanese brokerage firm) has forecasted a 7% GDP growth rate for India in FY23.
   • FY24 GDP forecast – 5.2%
   • CPI inflation forecast for FY23– 6.8% (above the RBI’s estimate of 6.7%)
   • CPI inflation forecast for FY24 – 5.3%
   • Fiscal deficit target of the central government for FY23 – 6.4%
2. International Monetary Fund (IMF) has released the World Economic Outlook-October 2022 report.

Appointments

1. Vinayak Godse has been appointed as the new CEO of Data Security Council of India.
   • Godse is also the head of the National Centre of Excellence for Cyber Security Technology and Entrepreneurship, a joint venture of Data Security Council of India and the Ministry of Electronics and Information Technology.
   • The Data Security Council of India is a not for profit organisation setup by NASSCOM for data protection in India.
2. Ananth Narayan Gopalkrishnan has been appointed as the Whole Time Member of SEBI.
3. Justice Dhananjay Yashwant Chandrachud will become the 50th Chief Justice of India in November 2022.

Important Days

1. October 8 – World Hospice and Palliative Care Day; Theme– Healing Hearts and Community
   • Hospice care-it is given to people who are near the end of their life.
   • Palliative care-it is given to people who are suffering from chronicle and complex diseases.

Awards

1. Harmanpreet Kaur has become the ICC Player of the Month for September 2022 in women’s category
   • Pakistani wicketkeeper Mohammed Rizwan has won the ICC Player of the Month Award for September 2022 in men’s category.

Sports

1. Magnus Carlsen has won Julius Baer Generation Cup (an online chess tournament).

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