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Daily Current Affairs – October 12, 2023

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Daily Current Affairs - Banking - October 12, 2023

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National News

Cabinet Approval

  • The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, had approved establishment of an autonomous body Mera Yuva Bharat (MY Bharat) to serve as an overarching enabling mechanism powered by technology for youth development and youth led development and provide equitable access to youth to actualize their aspirations and build Viksit Bharat across the entire spectrum of the Government.
  • The primary objective of Mera Yuva Bharat (MY Bharat) is to make it a whole of Government platform for youth development. 
  • Under the new arrangement, with access to resources & connection to opportunities, youth would become community change agents and nation builders allowing them to act as the Yuva Setu between the Government and the citizens.
  • It seeks to harness the immense youth energy for nation-building.

India Jewellery Shopping Festival (IJSF) 2023

  • Minister of Road Transport and Highways Nitin Gadkari launched the India Jewellery Shopping Festival (IJSF) 2023 in New Delhi.
  • India Jewellery Shopping Festival (IJSF), is a unique B2C Direct Marketing initiative by All India Gem And Jewellery Domestic Council (GJC), to completely disrupt the retail jewellery trade and to revive the positive ecosystem for the Gem and Jewellery Industry and its value chain, across India.
  • The B2C festival aims at providing gratification to consumers on purchase of jewellery, based on a threshold value spent at the retailer store.
  • It is the only scheme in India which will penetrate the masses to influence their interest in jewellery, thereby creating ‘Inclusivity for all’.
  • Domestic and foreign visitors will be involved on a massive scale in this B2C activity that will lead to government support.
  • Only GJC members can participate in the IJSF program.
  • Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – General Vijay Kumar Singh

International News

Two-Day International Workshop on Green & Clean Energy Technologies

  • The India-European Union (EU) Trade & Technology Council (TTC) Working Group 2 (WG2) convened a two-day international workshop on “Green & Clean Energy Technologies” during October 10-11, 2023.
  • The workshop was organized by the Office of Principal Scientific Adviser to the Government of India and hosted by the Ministry of New and Renewable Energy (MNRE) in hybrid mode.
  • India-EU-TTC is strategic coordination and engagement on trade and technology between India and Europe.
  • The first session ‘Waste to Green Hydrogen’ was chaired by Dr. Arun Tripathi, (Advisor, MNRE, India) and co-chaired by Ms. Helene Chraye (Head of Unit, DG R&I Directorate C1 – Unit on Clean Energy Transition, EU).
  • The second session ‘Marine Plastic litter and Wastewater’ was chaired by Ms. Szilvia Nemeth (Deputy Head of Unit, Directorate B4 on Healthy Oceans and Seas, EU) and co-chaired by Mr. M.V. Ramana Murthy (Mission Director, Deep Ocean Mission, Ministry of Earth Sciences, India).
  • The third session was divided into two sub-sessions. Session 3(a) on ‘E-mobility: Circulatory Aspects of Batteries’ was chaired by Sudhendu Jyoti Sinha (Adviser, Infrastructure, Connectivity & E-mobility, NITI Aayog) and co-chaired by Philippe Froissard (DG R&I – Head of Unit, Directorate C2 on Future Urban & Mobility Systems).
  • Session 3(b) on ‘Interoperability of Charging Infrastructure’ chaired by Ashok Rajput, (Member (Power System), Central Electricity Authority (CEA)) and co-chaired by Harald Scholz, (Head of Mobility Lab in JRC-ISPRA).
  • The fourth session ‘Standards’ was chaired by Ms. Kirsi Haavisto (DG R&I – Head of Unit in Directorate C1 on Valorisation policies & IPR) and co-chaired by Mr. Pramod Kr. Tiwari (DG- Bureau of Indian Standards (BIS)).

India & Bhutan plan to set up first Integrated Check Post along border near Jaigaon

  • India has launched Operation Ajay to facilitate the return from Israel of its citizens who wish to return.
  • A 24-hour Control Room has been set up in the Ministry of External Affairs in New Delhi to monitor the situation and provide information and assistance.
  • The Representative Office of India in Ramallah has also set up a 24-hour emergency helpline.
  • Israel – Jerusalem (Capital) – New shekel (Currency) – Isaac Herzog (President) – Benjamin Netanyahu (Prime Minister) – Hebrew (Language)

20th round of India-China Corps Commander Level Meeting

  • The 20th round of India-China Corps Commander Level Meeting was held at Chushul-Moldo border meeting point, Leh, Ladakh.
  • The two sides exchanged views in a frank, open, and constructive manner for an early and mutually acceptable resolution of the remaining issues along the LAC in the Western Sector in accordance with the guidance provided by the national leadership of the two countries.
  • China – Beijing (Capital) – Renminbi (Currency) – Xi Jinping (President) – Chinese (Language)

State News

Independent Scheduled Tribes Commission

  • Maharashtra Chief Minister Eknath Shinde gave approval to establish an Independent Scheduled Tribes Commission for Maharashtra on the lines of the Central Government.
  • The proposal was approved in the State Tribal Advisory Council meeting held in Mumbai.
  • Maharashtra – Mumbai (Capital) – Eknath Shinde (CM) – Ramesh Bais (Governor) – Marathi (Language)

Banking and Finance

India’s First Numberless Credit Card

  • Axis Bank had partnered with Fibe’s tech arm Social Worth Technologies Pvt. Ltd. to Launch India’s First Numberless Credit Card.
  • With a numberless credit card, customers get an added level of security as there is no card number, expiry date, or CVV printed on the card plastic.
  • This reduces the risk of identity theft or unauthorised access to customer’s card details ensuring absolute security and privacy.
  • Customers can easily access their Fibe Axis Bank Credit Card details on the Fibe app, giving them complete control over their information.
  • The card is powered by RuPay, which allows the customer to link this credit card to UPI.
  • Axis Bank – 03/12/1993 (Founded) – Mumbai (HQ) – Amitabh Chaudhry (MD & CEO) – “Badhti Ka Naam Zindagi” (Tagline)

India Infrastructure Finance Company Limited loan for Aviation Sector

  • The India Infrastructure Finance Company Limited (IIFCL) has given approval for loans amounting to Rs 8,800 crore for the development of airports and civil aviation infrastructure within the nation.
  • IIFCL has already approved loans of approximately Rs 8,800 crore, with around Rs 4,000 crore disbursed for the execution of airport projects.
  • IIFCL stands as a prominent financier for airports across India, having provided crucial support to projects with a cumulative project value of approximately Rs 74,000 crore.
  • Furthermore, IIFCL has established its presence in nearly all major airports within the country.
  • India Infrastructure Finance Company Limited (IIFCL) – 2006 (Founded) – New Delhi (HQ) – PR Jaishankar (MD)

NPCI International to develop UAE's domestic card scheme in partnership deal

  • India’s NPCI International Payments Ltd (NIPL) will assist in developing the first national domestic card scheme (DCS) for the United Arab Emirates (UAE) as part of a strategic partnership.
  • NIPL has signed a partnership agreement with Al Etihad Payments (AEP), a wholly-owned subsidiary of the Central Bank of the UAE (CBUAE).
  • Scheduled to launch in early 2024, the DCS will help UAE in improving financial inclusion, strengthening e-commerce and digital transactions and enhancing the country’s position as a global digital payments leader.
  • As part of its Financial Infrastructure Transformation (FIT) programme, CBUAE’s launch of AEP aims to implement an innovative, interoperable, and enabling payments infrastructure allowing licensed financial institutions and payment service providers to further enhance customer experience through advanced payment solutions.
  • National Payments Corporation of India – 2008 (Founded) – Mumbai (HQ) – Dilip Asbe (MD & CEO)

2024 AIIB Annual Meeting

  • The Board of Governors of the Asian Infrastructure Investment Bank (AIIB) announced that its ninth Annual Meeting will be held in Samarkand, Uzbekistan in September 2024.
  • A ceremony took place in Sharm El Sheikh, Egypt to mark the end of the 2023 AIIB Annual Meeting and the handover to the host country of the 2024 AIIB Annual Meeting.
  • Mr. Laziz Kudratov, AIIB Governor for Uzbekistan, Chair of the AIIB Board of Governors for 2024 and host of the 2024 AIIB Annual Meeting, received the gavel in a ceremonial transfer from Dr. Mohamed Maait, AIIB Governor for Egypt, Chair of the AIIB Board of Governors for 2023 and host of the 2023 AIIB Annual Meeting.
  • Asian Infrastructure Investment Bank (AIIB) – 16/01/2016 (Founded) – Beijing, China (HQ) – Jin Liqun (President) – 106 member countries

Business and Economy

GST Authority imposed Rs 36,844 penalty on LIC

  • GST Authority has imposed a fine of Rs 36,844 on Life Insurance Corporation for lower payment of taxes.
  • The corporation has received a communication/demand order for collection of GST, along with interest and penalty for Jammu & Kashmir state.
  • As per the notice dated October 9, 2023, by the State Taxes Officer, Srinagar, LIC paid 12 per cent GST instead of 18 per cent on certain invoices.
  • The tax authority has raised a demand order cum penalty notice for 2019-20– GST – Rs 10,462, penalty Rs 20,000 and interest Rs 6,382.
  • Life Insurance Corporation of India (LIC) – 01/09/1956 (Founded) – Mumbai (HQ) – Siddhartha Mohanty (Chairman)

Agreements and MoUs signed

India signed MoU with three countries

  • Ministry of Electronics and Information Technology had signed Memorandum of Understanding on cooperation in the field of sharing successful Digital Solutions implemented at Population Scale for Digital Transformation with Ministry of Information and Communications Technology of Papua New Guinea (for 3 years), Ministry of Economy, Finance and Industrial and Digital Sovereignty of France (for 5 years) and Ministry of Digital Transformation Technology of Trinidad and Tobago (for 3 years).
  • The MoU intends to promote closer cooperation and exchange of experiences and digital technologies-based solutions in the implementation of digital transformational initiatives of both the country.
  • Republic of Trinidad and Tobago – Port of Spain (Capital) – Trinidad and Tobago dollar (Currency) – Christine Kangaloo (President) – Keith Rowley (Prime Minister) – English (Language)
  • Papua New Guinea – Port Moresby (Capital) – Kina (Currency) – Charles III (Monarch) – James Marape (Prime Minister) – English, Hiri, Motu, PNG Sign Language, Tok Pisin (Language)
  • France – Paris (Capital) – Euro (Currency) – Emmanuel Macron (President) – Élisabeth Borne (Prime Minister) – French (Language)

Skyroot Aerospace successfully tests rocket engine for Vikram II

  • Pioneer in Light Fidelity (LiFi) technology, the Ahmedabad-based Nav Wireless Technologies Pvt Ltd (NavTech) has signed an MoU with Space Applications Centre, Indian Space Research Organization (ISRO).
  • The MoU singed between SAC/ISRO and Nav Wireless Technologies, has a tenure of three years.
  • Recommended by Department of Telecom (DoT), Nav Wireless Technologies is the first company in India to provide this technology to SAC, ISRO. 
  • Indian Space Research Organisation (ISRO) – 15/08/1969 (Founded) – Bangalore, India (HQ) – Sreedhara Somanath (Chairman)


Securities and Exchange Board of India

  • Shri Biranchi Narayan Sahootook charge as Executive Director, Securities and Exchange Board of India in Mumbai. 
  • He will handle Corporation Finance Investigation Department (CFID).
  • Prior to his promotion as Executive Director, Shri Sahoo was Chief General Manager in SEBI and has handled several assignments in SEBI since joining in 1996.
  • Securities and Exchange Board of India (SEBI) – 12/04/1988 (Founded) – Mumbai (HQ) – Madhabi Puri Buch, (Chairman) – Ministry of Finance (Parent)

Awards and Recognitions

Petroleum Ministry’s innovation award

  • Mangalore Refinery and Petrochemicals Ltd (MRPL) has won the ‘Best Innovation in Refinery’ award from the Union Ministry of Petroleum and Natural Gas.
  • MRPL has secured the award for 2022-23 for the second consecutive year amid stiff competition from IOCL, BPCL, and HPCL.
  • The award was presented to a team led by the Managing Director of MRPL, Sanjay Varma, by Hardeep Singh Puri, Union Minister of Petroleum and Natural Gas, at the Energy Technology Meet 2023 in New Delhi.
  • Ministry of Petroleum and Natural Gas – Hardeep Singh Puri,Cabinet Minister (Rajya Sabha MP,UP) – Rameshwar Teli, Minister of State (Dibrugarh,Assam)

Sports News

Manikanta sets 100m national record

  • Services sprinter Manikanta H Hoblidhar broke the 100m national record at the 16th National Open Championships in Bengaluru.
  • Manikanta clocked 10.23 secs to win the third 100m semifinal, improving on Amiya Mallick’s mark of 10.26 secs set in 2016.

Top Five Players with Most Centuries in World Cup history

World Cup (50 Over)





Rohit Sharma




Sachin Tendulkar




Kumar Sangakkara


Sri Lanka


Ricky Ponting




David Warner




China Open (badminton) 2023



Men’s singles

Viktor Axelsen (Denmark)

Women’s singles

An Se-young (South Korea)

Men’s doubles

Liang Weikeng & Wang Chang (China)

Women’s doubles

Chen Qingchen & Jia Yifan (China)

Mixed doubles

Seo Seung-jae & Chae Yoo-jung (South Korea)

Important Days

World Sight Day 2023

  • World Sight Day is annually observed on the second Thursday of October.
  • This year the day falls on October 12.
  • The day was first observed on 12/10/2000.
  • The day was originally initiated by the SightFirstCampaign of Lions Club International Foundation.
  • Theme – Eye Care in the Workplace
  • Lions Club International Foundation – October 1917 (Founded) – Oak Brook, Illinois, United States (HQ) – Dr. Patti Hill (President)

World Arthritis Day 2023

  • World Arthritis Day is annually observed on October 12.
  • The day is celebrated to create awareness about the rheumatic and musculoskeletal diseases, its impact on one’s life and educating people the symptoms & preventive measures and guiding for the early diagnosis to cope up any further complications.
  • The Day was first observed in 1996.
  • Theme – Living with an RMD at all stages of life


5th Annual Defence Dialogue in Paris

  • Raksha Mantri Shri Rajnath Singh conducted the 5th Annual Defence Dialogue with French Minister of Armed Forces Mr Sebastien Lecornu in Paris.
  • The two Ministers discussed a wide range of topics from the assessment of regional situation to the ongoing military-to-military engagements, with a focus on enhancing defence industrial cooperation.
  • 4th India-France annual defence dialogue chaired by Defence Minister Rajnath Singh and his visiting French counterpart Sebastien Lecornu was held in India.
  • France – Paris (Capital) – Euro (Currency) – Emmanuel Macron (President) – Élisabeth Borne (Prime Minister) – French (Language)

Daily Current Affairs - April 06, 2023 - Consolidated

  • Cabinet Approval
  • India Jewellery Shopping Festival (IJSF) 2023
  • Two-Day International Workshop on Green & Clean Energy Technologies
  • ‘Operation Ajay’
  • 20th round of India-China Corps Commander Level Meeting
  • Independent Scheduled Tribes Commission
  • India’s First Numberless Credit Card
  • India Infrastructure Finance Company Limited loan for Aviation Sector
  • NPCI International to develop UAE’s domestic card scheme in partnership deal
  • 2024 AIIB Annual Meeting
  • GST Authority imposed Rs 36,844 penalty on LIC
  • India signed MoU with three countries
  • Space Applications Centre signed MoU with (LiFi) technology
  • Securities and Exchange Board of India
  • Petroleum Ministry’s innovation award
  • Manikanta sets 100m national record
  • Top Five Players with Most Centuries in World Cup history
  • China Open (badminton) 2023
  • World Sight Day 2023
  • World Arthritis Day 2023
  • 5th Annual Defence Dialogue in Paris

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