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Daily Current Affairs – October 22 & 23, 2023

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Daily Current Affairs - Banking - October 22 & 23, 2023

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National News

‘Bharat Tex 2024’

  • Union Minister of Textiles, Commerce & Industry, Consumer Affairs and Food & Public Distribution Piyush Goyal lauded industry bodies of the textile sector for their initiative in organising “Bharat Tex 2024”- the world’s biggest ever textiles event in the world.
  • “Bharat Tex 2024” is scheduled to be held from 26-29 February 2024 at New Delhi.
  • It would be a comprehensive showcase of the entire textile industry value chain, from India’s rich cultural heritage and textile traditions to the latest technological innovations.
  • With over 1,000 exhibitors and more than 30,000 visitors from 40 countries, this mega event would include knowledge sessions, seminars and conferences, CEO roundtables, B2B & G2G meetings, besides strategic investment announcements, product launches and collaborations that would redefine the textile industry on a global scale.
  • Ministry of Textile – Piyush Goyal,Cabinet Minister (Rajya Sabha MP,Maharashtra) – Darshana Jardosh, Minister of State (Surat,Gujarat)

Banking and Finance

RBI opened dated securities to help Russia park its rupee surplus

  • Russia can get some comfort over its mounting surplus rupee problem as it, along with 21 other countries, can now invest in dated Government Securities and Treasury Bills through a rupee account.
  • The new system will be apart from options to invest through the Foreign Portfolio Investor (FPI) route and Special Rupee Vostro Account (SRVA).
  • Now, the Reserve Bank of India has notified the amendment in Foreign Exchange Management (Debt Instruments) Regulations, 2019.
  • Accordingly, a new provision has been added in the schedule of the regulation which says, “Persons resident outside India that maintain a rupee account in terms of regulation 7(1) of Foreign Exchange Management (Deposit) Regulations, 2016 may purchase or sell dated Government Securities/treasury bills, as per terms and conditions specified by the Reserve Bank.”
  • The notification also said the amount of consideration for the purchase of dated Government Securities/treasury bills by persons resident outside India shall be paid out of funds held in their rupee account.
  • Also, the sale/maturity proceeds (net of taxes, as applicable) of instruments held by persons resident outside India who maintain a rupee account shall be credited to the said rupee account.
  • Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)

Google Pay Loans

  • Sachet loans – Merchants looking for a smaller credit can instead opt for sachet loans, which is being offered in partnership with DMI finance. The sachet loans start as low as ₹15,000, with repayment options starting at ₹111.
  • Merchant loans– Google has also partnered with ICICI Bank and Indifi to offer seamless merchant loans and repeat loans.
  • Personal loans on Google Pay – Google has partnered with Axis Bank to offer personal loans to customers on the Google Pay app. Google Pay is already offering personal loans through the app in partnership with DMI Finance and is expected to soon onboard more partners.
  • Credit on UPI – Google has partnered with ICICI Bank to offer Credit on UPI. What this essentially means is that customers will soon be able to avail credit lines from banks on UPI and use this credit line to make payments via the Google Pay app.

Bima Vistaar

  • The Insurance Regulatory and Development Authority of India (IRDAI) is working on the final modalities of an all-in-one standard insurance product Bima Vistaar which is expected to be launched soon.
  • The Insurance Regulatory and Development Authority of India (Bima Vahak) Guidelines, 2023 shall come into force from the date of launch of Bima Vistaar.
  • it is a comprehensive Insurance product which will be issued in due course.
  • The main objective of Bima Vahak is to establish women centric dedicated distribution channel that is focused on enhancing insurance inclusion and creating awareness in every village/gram panchayat, and thus, improving accessibility and availability of insurance in every nook and corner of the country.
  • It aims at identifying and developing resources locally who understand and appreciate local needs and enjoy the trust and confidence of the local population of their village/gram panchayat. 
  • According to Bima Vahak norms, every insurer should engage individual Bima Vahaks and/or Corporate Bima to progressively achieve coverage of every gram panchayat.
  • Insurance Regulatory and Development Authority of India (IRDAI) – 1999 (Founded) – Hyderabad (HQ) – Debasish Panda (Chairman) – Ministry of Finance (Under)

Science and Technology

Website of “Kasturi Cotton Bharat”

  • Union Minister of Textile, Commerce & Industry, Consumer Affairs and Food & Public Distribution, Piyush Goyal launched website https://kasturicotton.texprocil.org of Kasturi Cotton Bharat.
  • This website provides a digital platform for necessary information and updates on this initiatives and highlights the registration process for ginners to produce Kasturi Cotton Bharat Brand and its processes that make the branded Indian cotton unique.
  • The Kasturi Cotton Bharat is a joint initiative by the Ministry of Textiles, the Cotton Corporation of India, Trade Bodies & Industry to work on the principle of self-regulation by owning complete responsibility of Branding, Traceability and Certification of Indian Cotton to enhance its’ competitiveness in the global market and create a sustainable ecosystem for all stakeholders involved.
  • All the ginners in the country have been empowered to produce Kasturi Cotton Bharat brand as per stipulated protocol.
  • Besides this, to provide complete traceability of Kasturi Cotton Bharat across the supply chain, QR based certification technology will be used at each stage of the processing and a blockchain based software platform will provide end to end traceability and transaction certificate.


Head of Kotak Mahindra Bank

  • Ashok Vaswani will be the next managing director (MD) and chief executive officer (CEO) of Kotak Mahindra Bank for a three-year term, with effect from the date of taking charge, which should be around January 1, 2024.
  • He is currently President of Pagaya Technologies, a US-Israeli artificial intelligence (AI) fintech firm, which he joined in June 2022.
  • Vaswani was the CEO of Barclays Bank, UK, and subsequently, CEO of its global consumer, private, corporate and payments businesses and also a member of its group executive committee. 
  • Kotak Mahindra Bank – 21/11/1985 (Founded) – Mumbai (HQ) – Dipak Gupta (MD & CEO) – “Let’s Make Money Simple” (Tagline)


  • Sanjay Kumar Jain, PCCM, Northern Railway, has been selected for the post of Chairman-cum-Managing Director, Indian Railway Catering & Tourism Corporation Limited (IRCTC).
  • Indian Railway Catering and Tourism Corporation (IRCTC) – 27/09/1999 (Founded) – New Delhi (HQ) – Sanjay Kumar Jain (Chairman & MD)

Secretary General of BIMSTEC

  • Indra Mani Pandey will be the next Secretary General of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation(BIMSTEC).
  • He is an Indian Foreign Service Officer of 1990 batch and is presently the Ambassador/Permanent Representative of India to the United Nations and other International Organisations in Geneva.
  • This is the first time that an Indian will hold the position of the Secretary General of BIMSTEC.
  • Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) – 06/06/1997 (Founded) –           Dhaka, Bangladesh (Secretariat) – Thailand (Chairman) – Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka & Thailand (Members)

Ranks and Indices

RiskTech100® 2024 Ranking

  • CRISIL Limited, an S&P Global Company, has been ranked 49 in the RiskTech100® 2024 Ranking, part of Chartis’ comprehensive annual report that independently recognizes the world’s top 100 leading providers of risk and compliance technology as well as services and identifies winners in specific categories.
  • Further, for the second consecutive year, CRISIL has been selected as the winner of the Model Validation Category for its suite of innovative, technology-driven risk management solutions.
  • CRISIL’s suite of innovative, technology-driven risk management solutions is crafted to expedite regulatory and internal compliance for financial institutions, enable informed decision-making, and deliver substantial cost efficiencies.

Awards and Recognitions

Assocham excellence award

  • Kerala Gramin Bank has won four prestigious Assocham awards at the 18th Assocham Annual Summit & Awards on Banking & Financial Sector Lending Companies namely “Bharat @ 100: Financial Transformation in Amrit Kaal” held in Mumbai.
  • The Bank was conferred with the titles of winner in Best Digital Initiative, Best Customer Experience, Best Risk and Cyber Security Initiatives and was the runner up in Outstanding Financial Performance.
  • Jayaprakash, Chairman received the awards on behalf of the bank.
  • Associated Chambers of Commerce & Industry of India (ASSOCHAM) – 1920 (founded) – New Delhi (founded) – Sumant Sinha (President)

"Award for Global Leadership"

  • Chief Justice of India (CJI) DY Chandrachud was felicitated with the “Award for Global Leadership” by the Harvard Law School.
  • The Chief Justice was announced as the recipient of the award in January 2023 in an online ceremony.

Himachal Pradesh awarded for best performance in National Tobacco Control Programme

  • A review meeting of the National Tobacco Control Programme was held under the chairmanship of the Additional Secretary, Ministry of Health & Family Welfare, at National Institute of Health and Family Welfare (NIHFW), New Delhi.
  • Himachal Pradesh has been awarded for being the best-performing state under the National Tobacco Control Programme.
  • The State had received two WHO awards for tobacco control in 2012 and 2023 (the only WHO awards for Health for Himachal Pradesh).
  • Till now tobacco control program in Himachal Pradesh is cost effective and sustainable.
  • Tobacco control in Himachal Pradesh is a classical example of a Government- NGO partnership with the highest political & administrative commitment and partnership among all key stakeholders since 2008.
  • The Government of Himachal Pradesh started tobacco control by awareness and enforcement and Shimla was declared the first evidence-based smoke-free city on 2nd October 2010. 
  • Himachal Pradesh became the first smoke-free State among all the 21 large States in India in 2013.
  • Apart from this Himachal Pradesh enacted a law for licensing tobacco vendors in 2016.
  • The State imposed a Ban on E – cigarette, a Ban on the sale of gutkha, and issued tobacco-free educational Institution guidelines.
  • As per the Global Adult Tobacco survey 2016-17, tobacco use has reduced from 21.2% (in 2010) to 16%.
  • World Health Organization (WHO) – 07/04/1948 (Founded) – Geneva, Switzerland (HQ) – Tedros Adhanom (Director-General)

‘Best Green Military Station’ Award 2023

  • During the 2nd Army Commanders’ Conference held in New Delhi Chief of the Army Staff, General Manoj Pande had conferred the ‘Best Green Military Station’ to Udhampur Military Station.
  • The awards ceremony also acknowledged the Dehradun Military Station, which secured the title of the “Second Best,” and the Bikaner Military Station, honored as the “Best Transformative Station.” 
  • He also presented the ‘COAS Flight Safety Trophy’ for the year 2022-23 to the ‘671 Army Aviation Squadron (R&O)’ in recognition of their indomitable commitment to maintaining the highest standards of flight safety and proficiency.
  • Indian Army – 26/01/1950 (Founded) – New Delhi (HQ) – Army Day (January 15) – General Manoj Pande (Chief of Army Staff) – “Service Before Self” (Motto)

Mother Teresa award

  • Jailed Iranian activist and Nobel Laureate 51 year old Narges Mohammadi has been named for this year’s Mother Teresa Memorial Award for Social Justice by Harmony Foundation, a voluntary group based in Mumbai.
  • She is chosen considering “her intrepid fight against religious despotism in a country like Iran, where women are subjugated and oppressed,” Abraham Mathai, founder-chairman of the group.
  • The Harmony Foundation was instituted the award in memory of Saint Mother Teresa in 2005.

Razorpay POS Won First Prize at RBI's Global Hackathon for 'DrishtiPay'

  • Razorpay, India’s Leading Full-Stack Payments, and Banking Platform for Businesses has secured the top spot at the RBI’s 2nd Global Hackathon – ‘HaRBInger 2023’ for its remarkable product, ‘DrishtiPay’, which facilitates easy-to-use, innovative Card and UPI payments for the visually impaired.
  • Designed by Razorpay’s POS Team (earlier known as Ezetap), the solution ‘DrishtiPay’ integrates with UPI apps and cards, to facilitate digital payments for the visually impaired.
  • DrishtiPay operates seamlessly with feature phones, even in the absence of an internet connection, in case of card transactions.
  • With a tap of a card or through an NFC-enabled phone, it allows visually impaired users to provide OTP securely for transacting instead of struggling to enter a PIN.
  • DrishtiPay is designed to contribute to the ease and accessibility of financial services while bringing efficiency and inclusion.
  • The prestigious award was presented by Shri T. Rabi Sankar, Deputy Governor of the Reserve Bank of India, recognizing the exceptional innovation and inclusivity brought forth by DrishtiPay.
  • The HaRBInger hackathon’s second edition was launched in February’23 with the theme ‘Inclusive Digital Services’.
  • In October, it received proposals from 154 teams spanning various countries, including India, Australia, Canada, Germany, Singapore, Sweden, the UK, and the USA.


Bishan Singh Bedi passed away at 77

  • Former India captain and legendary spinner Bishan Singh Bedi passed away at 77.
  • He was born in Amritsar in 1946, Bedi played 67 Tests for India and took 266 wickets with 14 five wicket hauls and one 10-wicket haul.
  • He was the longest serving Delhi Ranji team captain from 1974 to 1982.

Sports News

Asian Para Games

  • The Asian Para Games are organised by the Asian Paralymic Committee and also hold recognition from the International Paralympic Committee.
  • The Hangzhou 2022 Asian Para Games has officially begun following the Opening Ceremony which was held under the theme of “Hearts Meet, Dreams Shine”.
  • Another key feature of the Ceremony was the osmanthus flower, which is the city flower of Hangzhou.
  • The Asian Para Games first began in 2010 in Guangzhou, China and ever since then, the Games have been held in many other cities including Incheon, South Korea, in 2014 and Jakarata-Palembang in 2018.
  • The fourth edition of the Asian Para Games will see 566 medal events across 22 sports, further then divided into 24 disciplines.
  • India have sent 303 athletes – 191 men and 112 women – to the fourth edition of the Asian Para Games making it the country’s largest contingent to the continental event.
  • At the 2018 Asian Para Games, India had sent 190 athletes and returned with 72 medals, including 15 gold.
  • Para-club Thrower Amit Saroha and Para Shuttler Parul Parmar were the flag bearers of 4th Asian Para Games on behalf of India.

Abu Dhabi Masters 2023 badminton

  • The 2023 Abu Dhabi Masters was a badminton tournament which took place at the ADNEC Marina Hall in Abu Dhabi, United Arab Emirates.
  • This year observes first edition.
  • Men’s Singles – Mads Christophersen (Denmark)
  • Women’s Single – Unnati Hooda (India) against Samiya Imad Farooqui (India)
  • Men’s Doubles – Goh Sze Fei & Nur Izzuddin (Malaysia)
  • Women’s Double – Tanisha Crasto & Ashwini Ponnappa (India) against Julie Finne-Ipsen & Mai Surrow (Denmark)
  • Mixed Doubles – Mads Vestergaard & Christine Busch (Denmark)

Important Days

International Stuttering Awareness Day 2023

  • International Stuttering Awareness Day is annually observed on October 22.
  • The day is intended to raise public awareness of the issues faced by millions of people – one percent of the world’s population who stutter, or stammer.
  • The day was first held in the UK and Ireland, in 1998.


First edition of Indian Military Heritage Festival

  • Raksha Mantri Shri Rajnath Singh inaugurated the first edition of Indian Military Heritage Festival in New Delhi.
  • The two-day festival aims to celebrate India’s rich military culture and heritage that has evolved over the centuries, through conversations, art, dance, drama, story-telling and exhibitions.
  • It will primarily bring forward different understandings and perspectives through panel discussions by eminent scholars, practitioners and serving as well as retired officers.
  • During the event, He also launched ‘Project Udbhav’, a joint collaboration of Indian Army and United Service Institution of India, to promote indigenous discourse through exploration and integration of the country’s ancient strategic acumen into contemporary military domain.
  • Ministry of Defence – Rajnath Singh,Union Minister (Lucknow,UP) – Ajay Bhatt,Minister of State (Nainital–Udhamsingh Nagar,Uttarakhand)

Daily Current Affairs - October 22 & 23, 2023 - Consolidated

  • ‘Bharat Tex 2024’
  • RBI opened dated securities to help Russia park its rupee surplus
  • Google Pay Loans
  • Bima Vistaar
  • Website of “Kasturi Cotton Bharat”
  • Head of Kotak Mahindra Bank
  • CMD of IRCTC
  • Secretary General of BIMSTEC
  • RiskTech100® 2024 Ranking
  • Assocham excellence award
  • “Award for Global Leadership”
  • Himachal Pradesh awarded for best performance in National Tobacco Control Programme
  • ‘Best Green Military Station’ Award 2023
  • Mother Teresa award
  • Razorpay POS Won First Prize at RBI’s Global Hackathon for ‘DrishtiPay’
  • Bishan Singh Bedi passed away at 77
  • Asian Para Games
  • Abu Dhabi Masters 2023 badminton
  • International Stuttering Awareness Day 2023
  • First edition of Indian Military Heritage Festival

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