Daily Current Affairs – October 07, 2023
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Daily Current Affairs - Banking - October 07, 2023
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National News
Women Entrepreneurship Platform (WEP)
- The inaugural edition of the Women Entrepreneurship Platform (WEP) – NITI Aayog State Workshop Series on Enabling Women-led Development through Entrepreneurship was organized at CSIR-National Institute of Oceanography (NIO) Auditorium, Goa.
- The workshop was held in collaboration with the Government of Goa with a focus on the western region of the country.
- The workshop recorded over 500 participants, including women entrepreneurs, local self-help groups (SHGs) and clusters, government officials, industry representatives, incubators/accelerators, financial institutions, philanthropic foundations, and more.
- The primary focus was deliberating on a hub-and-spoke model aimed at extending women-led development to grassroots levels, covering the last mile.
- Eminent dignitaries, including Dr. Pramod Sawant, Hon’ble Chief Minister of Goa, Dr. V. K. Saraswat, Member, NITI Aayog, and Shri B.V.R Subramanyam, CEO, NITI Aayog, graced this landmark workshop.
National Conclave on Agrotech
- Ministry of Textiles, under its flagship scheme National Technical Textiles Mission (NTTM), organized National Conclave on Agrotech emphasizing on the importance of accelerating productivity of agriculture & horticulture products in India in association with ITTA and SASMIRA.
- The event encompassed 5 technical sessions focusing on innovations for sustainable and resilient agriculture, Indian Standards and QCOs under Agrotextiles, performance and sustainability of Agrotextiles and recent advances in Agrotech technology including digital transformation in Agriculture and Horticulture.
- There was a special session also discussing future growth and opportunities in Agrotextiles.
- A Conclave Booklet and a Report on Indian Agrotech Industry Opportunity: Fibre to Field, were released during the National Conclave.
- More than 150 participants attended the conclave including officials and representatives from Central Ministries, user Departments of Central and State Governments, Institutes, industry leaders, scientific experts, researchers, and professionals related to Agro textiles.
- Ministry of Textile – Piyush Goyal,Cabinet Minister (Rajya Sabha MP,Maharashtra) – Darshana Jardosh, Minister of State (Surat,Gujarat)
Aadi Mahotsav
- Union Minister for Tribal Affairs, Shri Arjun Munda inaugurated the Aadi Mahotsav – the National Tribal Festival, at Jamshedpur, Jharkhand.
- The mega event is being organized by the Tribal Cooperative Marketing Development Federation of India Limited (TRIFED), Ministry of Tribal Affairs, from 7th – 16th October 2023, commemorating the celebration of Azadi Ka Amrit Mahotsav.
- The Aadi Mahotsav is an annual initiative of Ministry of Tribal Affairs that celebrates the spirit of tribal entrepreneurship, craft, culture, cuisine, commerce and age-old traditional art.
- It serves as a platform to showcase the rich and diverse heritage of tribes from across the country.
- With over 150 stalls, the event will feature tribal art, handicrafts, natural produce and delectable cuisine.
The Mahotsav will host around 336 tribal artisans and artists, including Particularly Vulnerable Tribal Groups (PVTGs) and Van Dhan Kendra beneficiaries. - Apart from music, art, painting and cuisines, the Aadi Mahotsav offers the opportunity to meet artisans, learn about their way of life and gain a deeper understanding of tribal culture and traditions.
- As 2023 is designated as the ‘International Year of Millets’, the Aadi Mahotsav would also be showcasing millets grown by Tribals from across the country.
- Tribal Co-operative Marketing Development Federation of India (TRIFED) – 1987 (Founded) – New Delhi (HQ) – Shri Ramsinh Rathwa (Chairman)
ASI planned to establish gift shops to generate interest and promotion of heritage monument
- The Archaeological Survey of India (ASI) planned to establish gift shops in its monuments.
- It will create an opportunity for the cultural and creative industries to work closely with the monuments.
- The ASI intends to leverage souvenirs to generate interest and promotion of heritage monuments.
- It has released an Expression of Interest on its website to enhance interest and recognition of Indian cultural crafts and heritage leading to their conservation, development, and sustaining the livelihood of the associated artisans and their communities.
- An entire list of 84 monuments is available on the Expression of Interest.
- Archaeological Survey of India (ASI) – 1861 (HQ) – New Delhi (HQ) – Prof Kishore Kumar Basa (Director General)
Millets Farmer Producer Organizations Exhibition
- The Ministry of Agriculture and Farmer’s Welfare organized a Millets Farmer Producer Organizations (FPO) Exhibition at the BSF Camp in Chhawala, Delhi.
- The event was to promote Millet among paramilitary personnel and acquaint them with diverse, home-grown millet products by FPO.
- The event had over 30 FPO with ready-to-cook options and ready-to-eat products for paramilitary officers, staff, and their families.
- The exhibition hosted roughly 1,000 attendees from various armed forces.
- The event brought forth a viable and healthy alternative for everyday snacks such as noodles, ladoos, and cookies.
- It also featured raw and broken millet grains and millet flour.
- BSF Mahila Pipe Band and 24 Battalion BSF Jazz Band captivated the audience with their melodious tunes.
- Ministry of Agriculture and Farmers Welfare – Narendra Singh Tomar,Cabinet Minister (Morena,UP) – Shobha Karandlaje,Minister of State (Udupi Chikmagalur,Karnataka), Kailash Choudhary, Minister of State (Barmer,Rajasthan)
INMEX SMM India 2023 maritime industry exhibition
- INMEX SMM India is an event that brings together the international maritime and shipping industry was Jointly organised by Informa Markets in India and Hamburg Messe Und Congress.
- This event provides a platform for networking, knowledge sharing, and business opportunities.
- At the event, global and Indian companies to showcase their innovations in shipbuilding, ship equipment, offshore and port technologies, maritime safety & security, & green technologies.
- The 13th edition of INMEX SMM India took place at the Bombay Exhibition Centre, Goregoan East, Mumbai.
- During the inauguration Director General of Shipping Shyam Jagannathan had said The National Action Plan for Green Shipping promoting eco-friendly practices and incentives for low-emission ships, would help position India’s maritime sector as environmentally responsible.
- India’s maritime sector will play a pivotal role in achieving a $20 trillion economy by 2047, with a 9% projected growth rate.
State News
Institute of Driving Training and Research Centre
- Manipur Chief Minister N. Biren Singh inaugurated the Institute of Driving Training and Research Centre constructed in Imphal East under the Ministry of Road Transport and Highways (MoRTH).
- Institute of Driving Training and Research Centre will certainly help minimize the number of accidents in the State.
- Manipur – Imphal (Capital) – N. Biren Singh (CM) – Anusuiya Uikey (Governor) – Manipuri (Language)
Banking and Finance
RBI will issue framework for SRO recognition for regulated entities
- The Reserve Bank of India (RBI) will issue a framework to recognise self-regulatory organisations (SROs) for regulated entities (REs) and harmonise rules for the internal ombudsman mechanism of REs, seeking to strengthen governance and protect customers.
- The regulator will issue an omnibus framework for recognising SROs for strengthening compliance culture among their members and providing a consultative platform for policy making, said RBI in statement on Developmental and Regulatory Policies.
- The SRO framework will prescribe broad objectives, functions, eligibility criteria and governance standards.
- The framework will be common for all SROs, irrespective of sectors.
- The RBI may prescribe sector-specific additional conditions at the time of calling for applications for recognising SROs.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Axis Bank launched ‘open by Axis Bank’
- Axis Bank had launched its ‘open by Axis Bank’, its digital bank proposition in its latest advertising campaign.
- The Open 2023 campaign highlights the top 15 features of the bank’s digital offerings.
- “open” is a safe and secure mobile banking application from Axis Bank, with 100+ features and services satisfying more than just banking needs.
- It is a convenient way to access account, transfer funds, pay bills, link other bank accounts using UPI and more such exciting features on the go.
- Axis Bank – 03/12/1993 (Founded) – Mumbai (HQ) – Amitabh Chaudhry (MD & CEO) – “Badhti Ka Naam Zindagi” (Tagline)
First lender to offer ‘ONDC Network Gift Card’
- YES Bank had become the first bank in the country to issue an ‘ONDC Network Gift Card’.
- This marks a shift in the way India shops and aims to revolutionise the shopping experience for Indian consumers.
- The ONDC Network Gift Card, issued in partnership with Open Network for Digital Commerce (ONDC), is at the forefront of democratising digital commerce.
- Unlike traditional gift cards, this concept empowers customers to utilise the gift card for purchasing products from any brand and any seller across a wide array of segments, including food, fashion, handicrafts, electronics, home essentials, health and wellbeing.
- The ONDC Network Gift Card is open for sponsorship and utilisation by corporate and individual customers, enabling them to extend thoughtful gestures to their customers, employees, or for their loved ones.
- This card leverages the Rupay network and offers the flexibility to load up to Rs 10,000.
- Yes Bank – 2004 (Founded) – Mumbai (HQ) – Prashant Kumar (MD & CEO) – “Experience Our Expertise” (Tagline)
Agreements and MoUs signed
NRFMTTI signed MoU with Mahindra
- The Northern Region Farm Machinery Training and Testing Institute (NRFMTTI) has signed Memorandum of Understanding (MoU) with one of India’s foremost manufacturers of tractors and agricultural machinery Mahindra and Mahindra Ltd., Mumbai.
- This strategic partnership aims to foster skill development among the youth, equipping them with the necessary expertise for a career in the field of farm mechanization.
- The MoU outlines a collaborative effort to offer comprehensive training programs that will prepare young individuals for the challenges and opportunities in the agricultural machinery industry.
- The primary objective of this partnership is to bridge the gap between industry requirements and the skill sets possessed by the youth, ultimately strengthening the workforce in the farm mechanization sector.
- Northern Region Farm Machinery Training and Testing Institute (NRFMTTI) – 1963 (Founded) – Hisar, Haryana (HQ) – Ministry of Agriculture & Farmers Welfare (Under)
Automotive Research Association of India (ARAI) has signed an MoU with llT Guwahati
- Automotive Research Association of India (ARAI) has signed an MoU with llT Guwahati for Establishment of Common Engineering Facility Center titled “Digital Twin Center for Emerging Automotive Systems” in Hub and Spoke model.
- ARAI is an autonomous body under the aegis of the Ministry of Heavy Industries.
- The Common Engineering Facility Center (CEFC) is being established under Capital Goods scheme Phase-II of Ministry of Heavy Industries (MHI) by ARAI along with Industry Partner named Micelio Mobility Pvt Ltd. titled “Digital Twin Center for Emerging Automotive Systems” in Hub and Spoke model.
- The CEFC will enable “SAMARTH Udyog Bharat 4.0”, for the benefit of the industry at large, and more specifically MSMEs and Start-ups by creating digital twin for the different systems across industries.
- The small enterprises specifically have a challenge in accessing facilities for development of solutions and limited technology orientation.
- So, establishment of Digital Twin Centre for Emerging Automotive Systems will help the MSMEs and Start-ups in experimenting, experiencing, upskilling and finding solutions using this domain for their needs.
- Automotive Research Association of India (ARAI) – 1966 (Founded) – Pune (HQ) – Dr. Reji Mathai (Director)
Science and Technology
ISRO will commence unmanned flight tests
- The Indian Space Research Organisation (ISRO), planned to commence uncrewed flight tests for the Gaganyaan mission, has started to make preparations for the Flight Test Vehicle Abort Mission-1 (TV-D1).
- It is expected to take place by the end of October 2023 from the Satish Dhawan Space Centre in Sriharikota (SDSC-SHAR).
- Indian Space Research Organisation (ISRO) – 15/08/1969 (Founded) – Bangalore, India (HQ) – Sreedhara Somanath (Chairman)
Acquisitions and Mergers
SoftBank sold another 2.5% in PB Fintech
- SoftBank, through SVF Python II (Cayman) Ltd and SVF India Holdings (Cayman), has offloaded further 1.14 crore shares of PB Fintech, owner of Policybazaar and Paisabazaar.
- According to NSE block deal, these shares were sold at ₹762.80 each, taking the total deal size to ₹871.2 crore.
- The stake sale represents 2.5 per cent in the company.
UK’s Superdry sold its South Asian IP to Reliance Retail for $48.27 million
- UK clothing brand Superdry had signed an IP joint venture agreement with Reliance Brands Holding UK for the sale of Superdry’s intellectual property (IP) assets, including the Superdry brand and related trademarks in India, Sri Lanka and Bangladesh.
- Reliance Brands and Superdry will own 76 per cent and 24 per cent of the joint venture respectively.
Appointments
President of Asia-Pacific Institute for Broadcasting Development (AIBD)
- India has been elected as President of Asia- Pacific Institute for Broadcasting Development (AIBD) General Conference (GC) for the 3rd successive term to lead the prestigious international organisation in an unprecedented development where India had already served two terms as President, ABID GC from 2018 – 2021 and 2021 – 2023.
- AIBD, established in 1977 under the auspices of UNESCO, is a unique regional inter-governmental organisation, currently has 92 member organisations from across 44 countries, including 26 Government Members (countries) represented by 48 broadcasting authorities and broadcasters, and 44 Affiliates (organisations) of which represented by 28 countries and regions in Asia, Pacific, Europe, Africa, Arab States and North America.
- India is one of the founding members of AIBD and Prasar Bharati, India’s public service broadcaster is the representative body of the Ministry of Information & Broadcasting, Govt. of India at AIBD.
- The 21st General Conference & Associated Meetings 2023 (GC 2023) of Asia- Pacific Institute for Broadcasting Development (AIBD) was chaired by its President Shri Gaurav Dwivedi, CEO Prasar Bharati and concluded successfully in Port Louis, Mauritius.
- The two-day Conference is mandated to achieve a vibrant and cohesive electronic media environment in the Asia- Pacific region through policy and resource development.
Chief of Personnel Indian Navy
- Vice Admiral Krishna Swaminathan assumed charge as Chief of Personnel.
- The Flag Officer was Commissioned into the Indian Navy on 01 Jul 87 and is a specialist in Communication and Electronic Warfare.
- A recipient of the Ati Vishisht Seva Medal and Vishisht Seva Medal, the Admiral has held several key operational, staff and training appointments in his naval career including the command of missile vessels INS Vidyut and Vinash; the missile corvette INS Kulish; the guided missile destroyer INS Mysore and the aircraft carrier INS Vikramaditya.
- Indian Navy – 26/01/1950 (Founded) – New Delhi (HQ) – Navy Day (December 4) – Admiral R. Hari Kumar (Chief of Naval Staff) – ‘May the Lord of Water be auspicious unto us’ (Motto)
Sports News
Asian Games 2023
Rank | Country | Gold | Silver | Bronze | Total |
1 | China | 187 | 104 | 63 | 354 |
2 | Japan | 47 | 57 | 65 | 169 |
3 | South Korea | 36 | 50 | 84 | 170 |
4 | India | 28 | 36 | 41 | 105 |
- India’s Asian Games 2023 medal tally is 28 gold, 36 silver and 41 bronze.
- At the last edition, Jakarta 2018, a 570-strong Indian squad racked up 70 medals – 16 gold, 23 silver and 31 bronze.
2030 men’s Fifa World Cup
- Spain, Portugal and Morocco will co-host the 2030 men’s Fifa World Cup – but only after Uruguay, Argentina and Paraguay have staged the opening three games.
- Fifa has handed the South American trio the right to host the first three matches of the tournament to celebrate the centenary of the first World Cup, held in 1930 by Uruguay, who beat Argentina in the final.
- Paraguay is home of the South American federation Conmebol, which organised the tournament.
- Uruguay’s Estadio Centenerio in Montevideo was the setting for the first World Cup final and so will kick-off the tournament, before the second game is played in Argentina and the third in Paraguay.
- Real Madrid’s Santiago Bernabeu Stadium is expected to stage the opening ceremony and the World Cup final.
- Fédération internationale de football association FIFA (International Association Football Federation) – 21/05/1904 (Founded) – Zurich, Switzerland (HQ) – Gianni Infantino (President)
Important Days
World Cotton Day
- World Cotton Day is annually observed on October 07.
- The initiative of World Cotton Day was born in 2019, when four cotton producers in sub-Saharan Africa– Benin, Burkina Faso, Chad and Mali, known as the Cotton Four -proposed the World Trade Organization a World Cotton Day celebration on October 7.
- Theme – Making cotton fair and sustainable for all: from farm to fashion
- World Trade Organization (WTO) – 01/01/1995 (Founded) – Geneva, Switzerland (HQ) – Ngozi Okonjo-Iweala (Director General) – 164 members (160 UN member states, the European Union, Hong Kong, Macao, and Taiwan) – English, French, Spanish (Official Language)
Daily Current Affairs - October 07, 2023 - Consolidated
- Women Entrepreneurship Platform (WEP)
- National Conclave on Agrotech
- Aadi Mahotsav
- ASI planned to establish gift shops to generate interest and promotion of heritage monument
- Millets Farmer Producer Organizations Exhibition
- INMEX SMM India 2023 maritime industry exhibition
- Institute of Driving Training and Research Centre
- RBI will issue framework for SRO recognition for regulated entities
- Axis Bank launched ‘open by Axis Bank’
- First lender to offer ‘ONDC Network Gift Card’
- NRFMTTI signed MoU with Mahindra
- Automotive Research Association of India (ARAI) has signed an MoU with llT Guwahati
- ISRO will commence unmanned flight tests
- SoftBank sold another 2.5% in PB Fintech
- UK’s Superdry sold its South Asian IP to Reliance Retail for $48.27 million
- President of Asia-Pacific Institute for Broadcasting Development (AIBD)
- Chief of Personnel Indian Navy
- Asian Games 2023
- 2030 men’s Fifa World Cup
- World Cotton Day
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