Important Monthly Current Affairs Capsule – October 2022

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 Important Monthly Current Affairs Capsule – October 2022

S. No Topics Page No

1. Im portant Days 03

2. Im portant Banking and Economy News 19

3. Im portant State News 89

4. Im portant National News 136

5. Im portant International News 182

6. Im portant MOU’s and Agreement News 204

7. Im portant Mergers and Acquisitions News 219

8. Im portant Appointments and Resignation News 231

9. Im portant Awards and Honours News 275

10. Im portant Defence News 291

11. Im portant Summit & Conference News 311

12. Im portant Schemes News 315

13. Im portant Science, Technology & Environmental News 322

14. Im portant Apps and Services News 344

15. Im portant Rankings and Indices News 349

16. Im portant Books and Authors 363

17. Im portant Sports News 367

18. Im portant Obituaries 378

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 Important Monthly Current Affairs Capsule – October 2022

IMPORTANT DAYS

1st October: International Day of the Older Persons

• The International Day of Older Persons is celebrated on October 1 each year to increase

awareness about the importance of ageing and promote the rights of older persons.

• The overall umbrella theme for the United Nations International Day of Older Persons in 2022 is

“Resilience of Older Persons in a Changing World.”

• The International Day of Older Persons was declared by the UN General Assembly on December

14, 1990 (resolution 45/106).

• This was preceded by programs like the Vienna International Plan of Action on Aging, which was

approved by the UN General Assembly and the World Assembly on Ageing in 1982.

1st October: International Coffee Day

• International Coffee D ay is observed on October 1 every year to promote and celebrate coffee as

a beverage.

• The day also aims to promote fair trade coffee and to raise awareness of the plight of coffee

growers.

• The exact origin of International Coffee Day is unknown.

• An event was first promoted in Japan in 1983 by The All-Japan Coffee Association.

• In 2014, the International Coffee Organization decided to launch the first official International

Coffee Day in Milan as part of Expo 2015.

2nd October 2022: Gandhi Jayanti:

• Every year on October 2nd, people celebrate Gandhi Jayanti to remember the "Father of the

Nation," Mohandas Karamchand Gandhi.

• According to a declaration made by the United Nations General Assembly on June 15, 2007, this

day is also observed as the International Day of Non-Violence.

• On October 2, 1869, Mahatma Gandhi was born in Porbandar, a small town in Gujarat.

• He studied law in the United Kingdom and practiced in South Africa.

• Gandhiji wrote about his infancy and adolescent years, his marriage to Kasturba at the age of 13,

and his unwavering love for his country in his autobiography "My Experiments with Truth."

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 Important Monthly Current Affairs Capsule – October 2022

• Gandhiji was a pioneer of truth and nonviolence, and he set an example of simple living and noble

thinking.

4th October: World Animal Welfare Day:

• Every year on October 4th, World Animal Welfare Day is honored.

• This day is observed worldwide to commemorate the feast day of Francis of Assisi, the patron

saint of animals.

• The goal of observing this day as World Animal Welfare Day is to elevate the status of animals

and improve their well-being.

History:

• The day was first marked in 1925 by animal rights campaigner Heinrich Zimmermann, but now,

the annual global celebration of animals is coordinated by the UK-based animal welfare

organization, Naturewatch Foundation.

• To raise awareness, the Naturewatch Foundation developed the inaugural World Animal Day

website in 2003, which offers a directory of global World Animal Day events that take place on and

around World Animal Day and encourages supporters to add their events.

• The event was originally set for October 4 to coincide with the feast day of Saint Francis of Assisi,

the patron saint of the environment.

5th October 2022: World Teacher's Day

• World Teachers’ Day is observed every year on October 5 across the globe to recognize and

celebrate educators including teachers, researchers, and professors’ work

• The theme this year for International Teachers’ Day 2022 is “The Transformation Of Education

Begins With Teachers”.

History:

• October 5 was recognized as World Teachers’ Day by UNESCO in 1994, to honor the adoption of

the UNESCO/ILO Recommendation.

• This was a part of the intergovernmental conference convened by UNESCO in Paris that

recognized the status of teachers in cooperation with the International Labour Organization (ILO).

• After the adoption of this recommendation, the United Nations Educational, Scientific and Cultural

Organization (UNESCO) declared October 5 to be World Teachers’ Day.

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 Important Monthly Current Affairs Capsule – October 2022

7th October 2022: World Cotton Day

• October 7 is celebrated each year as World Cotton Day

• It is a multipurpose plant chiefly used in the textile industry but also in the medical sector, edible oil

industry, animal feeds, and bookbinding, among others.

• The theme for 2022’s celebration of World Cotton Day appears to be “Weaving a better future for

cotton,” as apparent from the posters released by the Food and Agriculture Organisation of the

United Nations (FAO).

History:

• The development and promotion of cotton cultivation are part of the United Nations (UN)

Sustainable Development Goals. To meet the goals, the World Trade Organisation (WTO), The

United Nations Conference on Trade and Development (UNCTAD), and the International Trade

Centre (ITC) undertook a joint initiative on cotton by-products.

• The initiative offers assistance to the “Cotton-4" nations, which are Benin, Burkina Faso, Chad,

Mali, and other cotton-producing countries in Africa, to develop cotton by-products and their

markets.

• In response to a formal appeal by the Cotton-4 countries to the United Nations General Assembly

(UNGA), on October 7, 2019, the WTO Secretariat, in collaboration with Secretariats of the

International Cotton Advisory Committee (ICAC), FAO, UNCTAD, and ITC, hosted the first World

Cotton Day (WCD) event in Geneva.

8 October-Air Force Day

• Indian Air Force Day is celebrated on 8 October every year.

• The main aim is to pay a tribute to the Air Force of India and acknowledge their contribution, and

excellence India has presented in the field.

• Every year the Indian Air Force Day is celebrated at Hindon Air Force Station, which is the largest

air base in Asia.

• The Air Force was officially raised as the supporting force of the Royal Air Force of the United

Kingdom in 1932 and the first operational squadron was created in 1933.

• Indian Air Force Day is celebrated to mark the official establishment of the Indian Air Force, which

was on October 8, 1932.

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 Important Monthly Current Affairs Capsule – October 2022

World Post Day 2022: October 9

• World Post Day is celebrated on 9th October of every year.

• World Post Day is observed to raise awareness about the postal sector.

• This day also reminds people about the important role the postal sector plays in everyday life.

Theme

• The World Post Day 2022 theme is “Post for Planet.”

History

• World Post Day was first declared by the Universal Postal Union (UPU) Congress in Tokyo, Japan

in the year of 1969.

• World Post Day was observed on 9th October because on this day the Universal Postal Day was

started in the year 1874 in Switzerland.

• The Universal Postal Union started the global revolution in communication and it started the ability

to write letters to others in the world.

• Since World Postal Day started, countries from all over the world took part in the celebrations

which are conducted on this day.

10 October: World Mental Health Day

• Every year on October 10th, the world celebrates World Mental Health Day.

• The day is observed to promote global awareness of mental health concerns and organize efforts

in support of mental health.

• World Mental Health Day is coordinated by the World Federation for Mental Health.

• The theme for World Mental Health Day 2022 is “Make Mental Health For All a Global Priority.”

History:

• The World Federation for Mental Health, a global mental health organization, initiated the

celebration in 1992.

• The Day allows all stakeholders working on mental health issues to discuss their work and what

more needs to be done to make mental health care a reality for people all around the world.

10 October: National Post Day

• In India, National Postal Day is observed on 10 October each year as an extension of World Post

Day, which is observed on 9 October.

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 Important Monthly Current Affairs Capsule – October 2022

• The purpose of the Day is to remember the role of the Indian Postal Department, which was

formed in 1854 by Lord Dalhousie.

• The Indian postal service is an essential component of the country.

• Despite the diversity of culture, tradition, and tough geographical terrain, India's postal systems

have performed well.

11 October- International Day of the Girl Child

• International Day of the Girl Child is commemorated on 11 October every year for empowering

girls and amplifying their voices around the globe.

• This day recognizes the rights of the girl child and the challenges faced by them across the world.

• Girls are breaking stereotypes, boundaries, and barriers.

• The theme of the International Day of the Girl Child 2022 is “Our time is now – Our Rights, Our

Future“.

History:

• The Beijing Declaration was adopted by the UN in 1995 during the World Conference on Women

in Beijing.

• This resolution is the first to specifically call out girls’ rights.

• The United Nations General Assembly declared 11 October as the International Day of the Girl

Child on 19 December 2011.

• The day was formed to focus on the fulfillment of the human rights of girls and the challenges that

they face.

World Arthritis Day- October 12

• World Arthritis day 2022 is observed on the 12th of October.

• Any condition that affects the joints is commonly referred to as arthritis.

• Pain and stiffness in the joints are typical symptoms. Redness, warmth, swelling, and a reduced

range of motion in the afflicted joints are possible additional symptoms.

• The theme of World Arthritis Day 2022 is ‘It’s in your hands, Take Action‘.

History

• The Arthritis Foundation established World Arthritis Day.

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 Important Monthly Current Affairs Capsule – October 2022

• The Greek terms "arthro," which means "joint," and "itis," which means "inflammation," are the

origin of the word "arthritis."

• Inflammation of the joints is a symptom of arthritis. Any living organism with bones is susceptible.

• The existence of ankle arthritis in humans dates back to at least 4500 B.C., and there is evidence

that it was present in dinosaurs as well!

• In actuality, it was among the most prevalent diseases among prehistoric populations.

• William Musgrave's 1715 book "De Arthritide Symptomatica," was the first in-depth research and

categorization.

World Sight Day: October 13

• World Sight Day is an International Day of Awareness, held annually on the second Thursday of

October.

• This year, World Sight Day is observed on the 13th of October 2022.

• The World Sight Day 2022 theme is, "#LoveYourEyes"

History

• Lions Clubs International partnered with blindness presentation organizations worldwide for the

first World Sight Day in 1998.

• This event was later integrated into VISION 2020, a global initiative that the International Agency

for the Prevention of Blindness (IAPB) coordinates.

• This initiative is a joint program between WHO and the IAPB.

• It involves non-government organizations, and professional associations, as well as eye-care

institutions and corporations.

International Day for Disaster Risk Reduction: October 13

• The International Day for Disaster Risk Reduction 2022 is observed on the 13th of October.

• The day offers an opportunity to celebrate the advancements made in reducing disaster

vulnerability and the resulting loss of lives, economy, and health.

• The International Day for Disaster Risk Reduction 2022 theme is, "Early Warning"

History

• The International Day for Natural Disaster Reduction was established by a resolution passed by

the UN General Assembly in 1989.

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 Important Monthly Current Affairs Capsule – October 2022

• However, the Assembly changed its resolution on December 21, 2009, deciding to observe the

Day on October 13.

• Also, the day was renamed International Day for Disaster Risk Reduction.

World Standards Day: October 14

• World Standards Day is observed annually on the 14th of October 2022.

• The opportunity to deepen understanding of the value of standardization and to increase

awareness of it is provided by World Standards Day in 2022.

• World Standards Standards 2022 Theme is, "Shared Vision for a Better World"

History

• The first World Standards Day was celebrated in 1946 i n London, the same year that the

International Organization for Standardization was founded.

• Every year on October 14, people all over the world, including members of the I.E.C., I.S.O.,

I.T.U., and other international standardization organizations, celebrate the collaborative efforts of

experts, volunteers, and everyone who participates in standardization activities globally.

World Egg Day: October 14

• World Egg Day is observed annually on the second Friday in October.

• This year, World egg day is on the 14th of October 2022.

• World Egg Day 2022 Theme is, "Eggs for a better life"

History

• World Egg Day was created in 1996 at the IEC conference in Vienna to recognize and honor the

value and relevance of eggs to all of humanity.

• Since then International Egg Day is observed annually on the second Friday in October.

Global Handwashing Day: October 15

• Global Handwashing Day 2022 is observed on the 15th of October.

• Hand washing is such a basic habit, but it can change everything and save lives.

• Global Handwashing Day 2022 theme is, “Unite for Universal Hand Hygiene.”

• The Global Handwashing Partnership established Global Handwashing Day as a chance to

develop and put into practice original strategies for inspiring people to wash their hands with soap,

particularly in times of need.

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 Important Monthly Current Affairs Capsule – October 2022

• In 2008, the first Global Handwashing Day was observed.

International D ay of Rural Women: October 15

• International Day of Rural Women 2022 is observed on the 15th of October 2022.

• This day serves as a reminder that millions of women in isolated rural communities still require our

assistance.

• There are several methods to reach out and improve the lives of these women, from providing

necessities to financial aid.

• It was proposed to empower and recognize women in 1995 during the Fourth World Conference

on Women in Beijing, China.

• To recognize the importance of rural women to agriculture, food production, and food safety, it

was suggested that October 15 be observed as International Day of Rural Women.

• October 15 will be recognized yearly as International Day of Rural Women globally, according to a

resolution 62/136 passed by the United Nations General Assembly on December 18, 2007.

White Cane Safety Day: October 15

• White Cane Safety Day 2022 is observed on the 15th of October 2022.

• This day is dedicated to visually impaired people

• This day is a chance to connect with others that might need your assistance.

• On White Cane Safety Day, you can participate in gatherings and activities that will benefit

persons who are blind or visually impaired.

• James Biggs, a photographer from Bristol, came up with the concept of white canes.

• Biggs had an accident in 1921 that left him blind.

• During that time, there were more cars on the road, so Biggs decided to paint his cane white to

make himself more visible to drivers and other pedestrians.

• White Cane Safety Day was established annually on October 15 by a joint resolution that

President Lyndon B. Johnson and the U.S. Congress signed on October 6, 1964.

Pregnancy and Infant Loss Remembrance Day: October 15

• Pregnancy and Infant Loss Remembrance Day 2022 is observed on the 15th of October 2022.

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 Important Monthly Current Affairs Capsule – October 2022

• The purpose of this day is to increase awareness, remembrance, and support for the 1 in 4 people

and families whose lives are reportedly irreversibly changed by the death of their child(ren) during

pregnancy, delivery, or infancy.

• Pregnancy and Infant Loss Remembrance Day (PAILRD) is a memorial day that is annually

honored on October 15 in the United States and Canada.

• To honor, commemorate, and remember infants who have died from miscarriage, stillbirth,

neonatal death, and other causes of baby loss, the day was created in 2002.

• Robyn Bear, Lisa Brown, and Tammy Novak started the movement by petitioning the federal

government to recognize the particular day on October 15.

• On September 28, 2006, the House of Representatives finally approved National Pregnancy and

Infant Loss Remembrance Day.

• The month of October had previously been declared to be Pregnancy & Infant Loss Awareness

Month by President Ronald Reagan.

World Students Day: October 15

• World Students Day 2022 is observed on the 15th of October 2022, to honor the birthday of our

former president, the late Dr. APJ Abdul Kalam.

• In 2010, World Students Day was established by the United Nations.

• In honor of former Indian president APJ Abdul Kalam, who was born on the same day in 1931,

October 15 of each year is observed as World Students' Day.

• The purpose of the day is to honor Kalam's contributions to education and students

• Early in his life, Kalam studied science and physics.

• He was born in Rameswaram, Tamil Nadu.

• Through his insightful lectures, Kalam devoted his life to teaching and encouraging students to

become the best versions of themselves.

World Food Day: October 16

• World Food Day 2022 is observed annually on the 16th of October 2022.

• World Food Day 2022 theme is, "Leave No One Behind"

• The Food and Agriculture Organization (FAO), a specialized body of the United Nations, created

World Food Day in 1945.

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 Important Monthly Current Affairs Capsule – October 2022

• However, it would take another 34 years until the 20th FAO conference in November 1979, when

it was declared a global holiday.

• Following this, 150 nations continued to commemorate the day once it was given official UN

recognition.

• Since 2014, the day's popularity has been exploited to advance the causes of world hunger relief

and eradicate poverty in developing countries.

World Anaesthesia Day: October 16

• World Anaesthesia Day 2022 is observed on the 16th of October 2022.

• Anaesthesia, which is generated for therapeutic reasons, is a controlled, brief loss of feeling or

awareness.

• World Anaesthesia Day 2022 theme is, "Anaesthesia and children: Caring for your kids"

• World Anaesthesia Day is observed on October 16 in remembrance of W.T.G. Morton, who made

the first successful official demonstration of ether as an anesthetic on this date 173 years ago.

• This event ushered in the practice of anesthesiology.

• Since 1903, unique occasions have been planned to commemorate this momentous day.

• Given in an operating room at Massachusetts General Hospital, it is regarded as one of the pivotal

moments in medical history.

International Day for the Eradication of Poverty: October 17

• International Day for the Eradication of Poverty 2022 is observed on the 17th of October 2022.

• The International Day for the Eradication of Poverty 2022 is an opportunity to recognize the

challenges and efforts of those who are poor, give them a voice, and highlight that they are the

ones who fight against poverty first.

• International Day for the Eradication of Poverty 2022 theme, "Dignity for All in Practice"

• The first commemoration of this day took place in 1987 at the Trocadéro in Paris, where more

than 100,000 people gathered to remember those who had died from extreme poverty, violence,

and hunger at the unveiling of a memorial stone by a French priest and humanitarian activist

named Joseph Wresinski.

• Such people declared that poverty is a violation of human rights and that we must work together to

guarantee that these rights are upheld.

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 Important Monthly Current Affairs Capsule – October 2022

• The general assembly established October 17 as the International Day for the Eradication of

Poverty on December 22, 1992, four years after Wresinski passed away in 1988.

• The eradication of poverty and misery was the subject of an invitation to all nations to submit and

promote initiatives.

World Osteoporosis Day: 20th October

• World osteoporosis day 2022 is observed on the 20th of October 2022.

• World Osteoporosis Day 2022 theme set up by the International Osteoporosis Foundation is “Step

Up For Bone Health”

• World Osteoporosis Day was launched on October 20, 1996, b y the United Kingdom's National

Osteoporosis Society and supported by the European Commission.

• Since 1997, this awareness day has been organized by the International Osteoporosis

Foundation(IOF).

• In 1998, two prominent organizations committed to educating the public about osteoporosis,

combined to create the International Osteoporosis Foundation

• The Founding of the IOF was a combination of the joint efforts of the European Foundation for

Osteoporosis created in 1987 and the International Federation of Societies on Skeletal Diseases

(IFSSD), which was started in 1995.

National Solidarity Day: 20th October

• On 20th October, National Solidarity Day 2022 is observed.

• This day serves for the war's bravery, honoring the War soldier’s family, and honoring the defense

armed forces in Military, Navy, and Air soldiers.

• War took place between India and China in 1962.

• It was called the Indo-China War of 1962.

• The war took place for the Kashmir border issue and the war started on 20th October 1962.

• The war took place for one month and it finally ended on 21st November 1962.

• India Finally China occupied some parts of Kashmir which were named COK - China Occupied

Kashmir.

• In 1966, India was under Prime Minister Indira Gandhi. A Committee Constituting Prime Minister

Indira Gandhi decided to dedicate 20th October as “National Solidarity Day” for war remembrance,

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 Important Monthly Current Affairs Capsule – October 2022

to honor the Soldiers who participated in the war and to honor the soldier’s families who sacrificed

their lives in the war.

Police Commemoration Day: 21st October

• Police Commemoration Day 2022 is observed on the 21st of October 2022.

• On 21st October, Police Commemoration Day in India, a nationwide program will be conducted for

the Police persons who proved their bravery and excellence in their duty.

• The day commemorates the sacrifices of ten CRPF personnel who lost their lives while defending

our border with China On October 21, 1959.

• On 20th October 1959, The Indian Reconnaissance party went missing.

• One of the three Parties launched from Ladakh does not return to the base.

• On 21st October 1959, the Chinese army attacked and killed 10 brave Indian Soldiers.

• In January 1960 they decided that October 21 will be declared as the Police Commemoration Day

in India to remember and honor the sacrifices made by on-duty Police Personnel in the country.

International Stuttering Awareness Day: 22nd October

• International Stuttering Awareness Day 2022 is observed on the 22nd of October 2022.

• The International Stuttering Awareness Day theme 2022 set up by the ISAD Online Conference

Team is “Being Seen, Being Heard - Representation and Normalization of Stuttering i n the

mainstream.”

• International Stuttering Awareness Day was established in the year 1998 to bring attention to the

millions of people across the world who are living with his specific Communication Disorder.

• People think that stuttering means repetitions of some words.

• Stuttering is also mentioned for persons who are having an elongation of a vowel or syllable.

• This condition may also vary because sometimes a person may stutter once in a while and also

they stutter continuously while talking.

• In 19th Century Europe, surgeons recommended surgery for this disorder

• This practice was later stopped because the patients who survived also stuttered again.

• Later it was understood that stuttering was a neurological disorder that can be developmental from

Childhood and also can be acquired due to excessive drug use and also due to trauma.

United Nations Day: 24th October

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 Important Monthly Current Affairs Capsule – October 2022

• United Nations Day 2022 is observed on the 24th of October 2022.

• The United Nations Conference took place in San Francisco in 1945. 50 countries came to the

conference to form the United Nations Charter.

• The United Nations Organisation aims to bring peace among the people to stop the War Situation.

• UNO also works to reduce Poverty across the Globe.

• The Permanent members of UNO are the United States, India, the United Kingdom, France,

Turkey, and Canada.

• United Nations Day is celebrated for the remembrance of the formation of the United Nations

Organisation. United Nations Day is celebrated annually.

• This year United Nations Day 2022 will be celebrated by UNO globally by conducting a Peace

Conference.

World Polio Day: 24th October

• World Polio Day 2022 is observed on the 24th of October 2022.

• World Polio Day is first initiated and Celebrated by Rotary International for the birthday of Jonas

Salk, the Medical Researcher who led the first team to develop a vaccine against polio.

• He developed the Inactivated Poliovirus Vaccine in 1955.

• Later Albert Sabin developed Oral Polio Vaccine in 1962.

• Rotary International and WHO established the Global Polio Eradication Initiative (GPEI) in 1988.

• At the time there were around 3,50,000 cases across the world.

• Now the European Countries have completely eradicated polio and now announced themselves

as Polio-free Countries.

• But Still Asian Countries like Afghanistan, Pakistan, and India still find rare cases across the

country.

• World Polio Day 2022 is celebrated for over a decade now by Rotary International.

• This year they announced an awareness program to vaccinate babies as per the schedule.

Disarmament Week- 24 to 30 October

• Every year, from October 24 to 30, Disarmament Week is observed.

• One of the primary purposes of the United Nations is to achieve universal peace.

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 Important Monthly Current Affairs Capsule – October 2022

• To that goal, the organization observes Disarmament Week every year from October 24 to

October 30.

• Disarmament Week attempts to raise awareness and understanding of disarmament challenges

and their interconnections.

History:

• The week-long yearly observance began on October 24, the anniversary of the United Nations'

creation, and was initially called for in the Final Document of the General Assembly's 1978 special

session on disarmament (resolution S -10/2).

• In 1995, the General Assembly asked states and non-governmental organizations (NGOs) to

continue actively participating in Disarmament Week (resolution 50/72 B, 12 December 1995) to

increase public understanding of disarmament concerns.

• In 1952, the United Nations Disarmament Commission (UNDC) was founded.

• It was tasked with developing treaty proposal documents to limit and reduce the number of

nations' military forces and weaponry.

About United Nations Disarmament Commission

• Founded: 11 January 1952

• Headquarters location: New York, United States

• Head: Han Tae-song.

World Day for Audiovisual Heritage: 27th October

• World day for Audiovisual Heritage 2022 is observed on the 27th of October 2022.

• UNESCO aims to promote digital platforms so that our Culture and Heritage will be transferred to

the next younger generation quickly to their place so that they will be aware of the rich heritage

and culture of all countries worldwide.

• World Day for Audiovisual Heritage 2022 Theme set up by UNESCO is “Enlisting documentary

heritage to promote inclusive, just, and p eaceful societies.”

• The World Day for Audiovisual Heritage (WDAH) is a commemoration of the adoption, in 1980 by

the 21st General Conference, of the Recommendation for the Safeguarding and Preservation of

Moving Images.

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 Important Monthly Current Affairs Capsule – October 2022

• Since the World Day for Audiovisual Heritage2022 is celebrated in conjunction with the 30th

anniversary of the World Programme, the members of State in UNESCO take this day as an

opportunity to evaluate their performance in implementing the Recommendations for Preservation

and Access of the Documentary Heritage in Digital Form.

World Stroke Day: 29th October

• World Stroke Day 2022 is observed on the 29th of October 2022.

• World Stroke Day 2022 theme set by the WSO is “Learn the signs, Say it's a stroke and save

Precious time.”

• World stroke day was established on 29th October 2004 at World Stroke Congress in Vancouver,

Canada.

• Later in 2006, the day was proclaimed for public awareness.

• In 2006, World Stroke Organization was created with the merger of the World Stroke Federation

and the International Stroke Society.

• Since then, World Stroke Organization (WSO) has been taking care of the management and

advocacy of World stroke day (WSD) on different platforms.

• In 2010, World Stroke Organization (WSO) declared stroke a public health emergency to curb the

trending mortality and disability due to the lack of awareness and proper accessibility of diagnosis

and treatment to everyone.

World Savings Day: 31st October

• World Savings Day 2022 is observed on the 31st of October 2022. (30th October in In dia)

• World Savings Day 2022 theme set up by the International Savings Bank Congress is “Saving

prepares you for a better future”

• World Savings Day, also called World Thrift Day, was first established in the year 1924 during the

first International Savings Bank Congress.

• The Congress started on October 24.

• On the last day of Congress exactly on October 30, the Congress decided to celebrate World

Savings day every year to insist on the importance of saving money and also to insist on the

method of saving money through banks and other modes.

• However, the Establishment lost its importance after the First World War.

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 Important Monthly Current Affairs Capsule – October 2022

• Then later the Day gained importance after the second world war.

• The Day is officially celebrated on October 31st every year.

• But in India, i t is celebrated on October 30 since the former Prime Minister Mrs. Indhra Gandhi

died on October 31st.

Halloween Day: 31st October

• Halloween Day 2022 is observed on the 31st of October 2022.

• Halloween Day 2022 theme is “Carving of Pumpkin.”

• On this Day People set a campfire on the hilltop to show that bad evils are burnt and the people

wear different kinds of masks to show that ghosts will go back from their place after seeing them.

• People who died on the day of the Samhain festival believed that their souls returned to their

homes.

• People who died that year believed that they would go to another world.

• Halloween had its origin in the festival of Samhain among the Celts of ancient Britain and Ireland.

• The Observance of Halloween is mainly non-religious.

• The Next day, November 1 is believed to be a new calendar year.

• That date was considered the beginning of the winter period.

National Unity Day: 31st October

• National Unity Day 2022 is observed on the 31st of October 2022.

• The National Unity Day 2022 was first started in the year 2014 by our Honourable Prime Minister

Narendra Modi to honor the birth anniversary of Sardar Vallabhbhai Patel on 31st October 1875.

• He made a huge contribution to bringing all the scattered states into one nation after

independence.

• He was also the first deputy Prime Minister and Home Minister of India.

• National unity Day is also called Rashtriya Ekta Diwas Day.

• The same day the Statue of Unity was opened in 2018 by our Prime Minister in remembrance of

Sardar Vallabhbhai Patel.

• It was the highest statue in the world.

• Shanghai Cooperation Organisation announced the Statue of Unity as the eighth World Wonder.

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 Important Monthly Current Affairs Capsule – October 2022

• Hereafter 31st October National Unity Day 2022 will also be called and celebrated as Rashtriya

Ekta Diwas Day 2022.

IMPORTANT BANKING & ECONOMY NEWS

DBS Bank India collaborates with HDFC ERGO and Atradius to provide a Trade Credit Insurance

solution to Tata Metaliks

• DBS Bank India Limited (DBIL) has partnered in collaboration with HDFC ERGO General

Insurance Co Ltd and reinsured by Atradius, a worldwide provider of trade credit insurance to

provide a bespoke Credit Insurance - Accounts Receivable solution to Tata Metaliks Ltd (TML), a

subsidiary of Tata Steel Limited.

• This credit insurance deal is amongst the first to leverage Trade Credit Insurance.

• The revised framework was rolled out by the Insurance Regulatory & Development Authority of

India (IRDAI) in November 2021, allowing banks to participate in this proposition.

• DBS is one of the first movers in the Indian market, supporting financial transactions backed by

Trade Credit Insurance.

About DBS Bank India:

• Headquarters: Mumbai, Maharashtra

• MD & CEO: Surojit Shome

• DBS Bank India Limited is the first among the large foreign banks in India to start operating as a

wholly-owned, locally incorporated subsidiary of a leading global bank.

About HDFC ERGO General Insurance Company:

• Headquarters: Mumbai, Maharashtra, India

• MD: Mr. Ritesh Kumar

• HDFC ERGO General Insurance Company is a joint venture between HDFC Ltd. and ERGO

International AG; the primary insurance entity of the Munich RE Group of Germany.

ICRA maintains India's FY23 GDP growth forecast at 7.2%

• Rating agency ICRA has maintained its forecast of 7.2% growth in India'sGross Domestic Product

(GDP) for the financial year FY23.

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 Important Monthly Current Affairs Capsule – October 2022

• According to ICRA, the growth will be aided by a revival in contact-intensive services owing to

pent-up demand, and a back-ended pick-up in Government and private CAPEX.

Key Highlights:

• ICRA's note highlighted that the Year over Year (YoY) performance of 12 of the 14 non-financial

indicators (except ports cargo traffic and finished steel consumption) deterioration in July-August

2022 relative to Q1 FY2023, on account of the normalization of the base after the easing of the

Covid 2.0 wave.

• In Q1FY23, India's real GDP is estimated at ₹36.85 lakh crore, as against ₹32.46 lakh crore in Q1

2021-22, showing a growth rate of 13.5%. While the gross value added (GVA) growth stood at

12.7% in Q1FY23.

Muthoot Finance ties up with Lulu International Exchange for gold loan repayment

• Muthoot Finance, one of India’s largest gold loan Non-Banking Financial Company (NBFC)

companies, has signed a Memorandum of Understanding (MoU) with Lulu International Exchange,

one of the money exchange and transfer companies in the UAE, to work as its collection partner.

Aim:

• To drive convenience and ease of money transfer for over 4 lakh Non-Resident Indians (NRIs) in

UAE whose relatives have availed gold loans back home

About the Partnership:

• The partnership will largely benefit customers and their relatives who have availed of gold loans by

providing them with a way to pay their gold loan installments at special rates.

• NRIs can avail of the service at any of the 89 branches of Lulu Exchange spread across the UAE.

• The loan installment will be settled on a real-time basis with a nominal fee charged for the remit

service.

• India is the world's largest recipient of remittances and the share from the Gulf Cooperation

Council (GCC) is higher in Kerala, Tamil Nadu, and Karnataka.

Note:

• CEO of LuLu Financial Group: Richard Wason

About Muthoot Finance:

• Founded: 1939

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 Important Monthly Current Affairs Capsule – October 2022

• Headquarters: Kochi, Kerala, India

• Managing Director: George Alexander Muthoot

World Bank downgrades growth for East Asia and Pacific to 3.2% in 2022

• The World Bank has downgraded growth for developing East Asia and the Pacific to 3.2% in 2022.

• The region's growth is projected to slow this year from 7.2% in 2021, before accelerating to 4.6%

in 2023.

• Rising inflation abroad has provoked interest rate increases, which in turn have caused capital

outflows and currency depreciations in some East Asia and Pacific countries.

About World Bank:

• Established: December 1945

• Headquarters: Washington, D.C., United States

• President: David Malpass

• The World Bank is the collective name for the International Bank for Reconstruction and

Development (IBRD) and International Development Association (IDA).

RBI hikes repo rate by 50 basis points to 5.9%

• The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) headed by

RBI Governor Mr. Shaktikanta Das decided to increase Repo Rate by 50 basis points to 5.90%.

• This is the RBI's fourth rate hike in the current financial year.

• Consequently, the standing deposit facility (SDF) rate is adjusted to 5.65% & the marginal

standing facility (MSF) rate and the Bank Rate to 6.15%, the Fixed Reverse Repo Rate: is 3.35%,

Cash Reserve Ratio (CRR): is 4.50%, Statutory liquidity ratio (SLR) 18.00%.

GDP:

• The Governor informed that the RBI’s growth projection for the Indian economy for 2022 -23 is

projected at 7.0% with Q2 at 6.3%; Q3 at 4.6%; and Q4:2022-23 at 4.6%, with risks broadly

balanced.

• The growth for Q1 of 2023-24 is projected at 7.2%.

• The RBI has retained its inflation projection at 6.7% for this fiscal year.

• India’s foreign exchange reserves: $537.5 billion

About the Monetary Policy Committee:

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 Important Monthly Current Affairs Capsule – October 2022

• Section 45ZB of the amended RBI Act, 1934 provides for an empowered six-member monetary

policy committee (MPC) to be constituted by the Central Government by notification in the Official

Gazette.

Members of the MPC:

1. Chairperson- Shaktikanta Das

2. Michael Debabrata Patra

3. Rajiv Ranjan

4. Ashima Goyal

5. Shashank Bhide

6. Jayanth Varma

• Members 1 to 3 are officials from the RBI and members 4 to 6 are appointed by the central

government.

About RBI:

• Established: 1 April 1935

• Headquarters: Mumbai, Maharashtra, India

• Governor: Shaktikanta Das

• Deputy Governor: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi Shankar

World Bank & SIDBI to launch USD 1 billion fund financing purchase of electric 2 & 3 Wheelers

• The Government of India (GoI), World Bank (WB), and Small Industries Development Bank of

India (SIDBI) are set to launch a $1 billion fund to provide guarantees against loan default to

lenders financing the purchase of electric 2- and 3-wheelers.

• The National Institution for Transforming India (NITI Aayog) is the facilitating agency for the

project.

Aim:

• To facilitate faster and easier financing of electric vehicles.

• Partial credit guarantees and first-loss risk-sharing instruments are some of the most effective

financial solutions to foster the transition and increase electric mobility uptake.

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 Important Monthly Current Affairs Capsule – October 2022

• The instrument would act as a hedging mechanism, for banks to access in case of defaults of

loans on the purchase of electric vehicles

• Currently, loans for electric two-wheelers and three-wheelers attract 20-25% interest per annum.

• This is expected to bring down the cost of financing EVs by 10-12%.

• In FY23, EV sales in India are expected to cross a million units, an 84% rise year-on-year (y-o-y).

About WB:

• Established: December 1945

• Headquarters: Washington, D.C., United States

• President: David Malpass

About SIDBI:

• Established: 2 April 1990

• Headquarters: Lucknow, Uttar Pradesh, India

• MD & CEO: Shri Sivasubramanian Ramann

• SIDBI is the apex regulatory body for the overall licensing and regulation of micro, small and

medium enterprise finance companies in India.

• It is under the jurisdiction of the Ministry of Finance, Government of India.

The government has now decided to borrow ₹14.21 trillion in the current fiscal:

• The government has now decided to borrow ₹14.21 trillion in the current fiscal, as against ₹14.31

trillion estimated in the budget.

• Backed by buoyant revenue collections, the government has decided to lower borrowing for the

current fiscal by ₹10000 crores than earlier projected for 2022-23 in the budget.

• Government is confident of achieving the fiscal deficit target for 2022-23 of 6.4% of GDP.

• However, the borrowing for the second half will remain the same as earlier estimated at ₹5.92

trillion, which includes ₹16000 crores of its sovereign green bond offering.

• The government finances its fiscal deficit through several means, including raising money from

capital markets by issuing different instruments like treasury bills and bonds.

• The fiscal deficit, which is the excess of government spending over revenues is estimated at ₹16.6

trillion, or 6.4% of GDP.

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 Important Monthly Current Affairs Capsule – October 2022

• The direct tax collections in the first six months of the fiscal are higher by 23% over the

corresponding period last year at ₹700,669 crores.

SEBI extends two-factor authentication for mutual fund subscription transactions

• Capital markets regulator Securities and Exchange Board of India (SEBI) decided to extend the

two-factor authentication (2FA) for subscription transactions in units of mutual funds to further

safeguard the interest of investors.

• The new framework will come into effect from April 1, 2023.

• In the case of subscription and redemption of units, two-factor authentication (for online

transactions) and signature method (for offline transactions) will be used for authentication.

• In the case of demat transactions, the process of two-factor authentication as laid down by the

depositories will be followed.

• SEBI has clarified that in the case of systematic transactions, the requirement of such

authentication will be applicable only at the time of registration.

• The Association of Mutual Funds in India shall furnish the activity-wise schedule for the

implementation of two-factor authentication by October 14 and will furnish progress reports on the

implementation of the authentication provisions on a bi-monthly basis, starting from December 1,

2022.

About SEBI:

• Established: on 12 April 1988 as an executive body and was given statutory powers on 30

January 1992 through the SEBI Act, 1992

• Headquarters: Mumbai, Maharashtra, India

• Chairman: Madhabi Puri Buch

• SEBI is the regulatory body for securities and commodity markets in India under the ownership of

the Ministry of Finance, GoI.

Karnataka Bank opens Analytical Center o f Excellence

• Karnataka Bank has opened an Analytical Center of Excellence (ACoE) at Electronic City,

Bengaluru, Karnataka to harness the power of data.

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 Important Monthly Current Affairs Capsule – October 2022

• The center, which is developed in association with Ernst and Young (EY) as a project partner, will

help in the accelerated incubation of Artificial Intelligence (AI)/ Machine Learning (ML) models

along with their integration into business, on a scalable analytical data platform.

• Shri P Pradeep Kumar, Chairman, and Sri Mahabaleshwara M.S, MD & CEO, along with Shri

Mahesh Makhija from EY jointly inaugurated the Centre.

• ACoE will be a key differentiator in accelerating Karnataka Bank's transformation journey to

emerge as a relevant, progressive 'Digital Bank of Future' as envisaged as part of the KBL NxT

initiative of the Bank".

About Karnataka Bank:

• Founded: 18 February 1924

• Headquarters: Mangaluru, Karnataka, India

• MD & CEO: Mahabaleshwara M. S

• Tagline: Your Family Bank Across India

SEBI lays guidelines on preferential issues for listed REIT, InvIT

• Capital market regulator Securities and Exchange Board of India (SEBI) issued guidelines on

preferential issues and institutional placement of units in emerging investment vehicles – real

estate investment trust (REIT) and infrastructure investment trust (InvIT).

• However, the allotment of units can be made to the sponsor for unsubscribed portions in the

institutional placement where at least 90% of the issue size has been subscribed.

• A listed InvIT and REIT may make a preferential issue of units or institutional placement of units in

case units of the same class, which are proposed to be allotted, have been listed on a stock

exchange for at least 6 months before the date of issuance of notice to its unit holders.

• While a REIT comprises a portfolio of commercial real assets, & InvITs comprise a portfolio of

infrastructure assets, such as highways and power transmission assets.

SEBI rolls out a framework for credit rating agencies

• Markets regulator Securities and Exchange Board of India (SEBI) came out with a new framework

for credit rating agencies (CRAs), involving ratings of securities having explicit credit enhancement

features.

• The new framework, applicable from January 1, 2023

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 Important Monthly Current Affairs Capsule – October 2022

Aim:

• To enhance transparency and improve the rating process.

Key Highlights:

• Under the rule, CRAs can assign the suffix 'CE' (Credit Enhancement) to the rating of instruments

having explicit credit enhancement.

• CRAs will have to conduct independent due diligence on the nature of specified support

consideration and form a definitive internal view and, wherever warranted, obtain an independent

external legal opinion for ascertaining the strength of the credit enhancement.

• It will have to verify the documentation related to the specified support considerations to ensure

that the support is unconditional and legally enforceable till all the obligations of the rated security

have been paid to the investors.

The combined index of eight core industries increased by 3.3%

• The combined index of eight core industries increased by 3.3% (provisional) compared to the

Index of August 2021.

• Index of Eight Core Industries measures combined and individual performance of production in 8

core industries- Coal, Crude Oil, Cement, Fertilisers, Refinery Products, Electricity, Natural Gas,

and Steel.

• The Eight Core Industries comprise 40.27% of the weight of items included in the Index of

Industrial Production (IIP).

• The final growth rate of the Index of Eight Core Industries for May 2022 has been revised to

19.3% from its provisional level of 18.1%.

Airtel has become the first company to launch 5G services in the country:

• Telecom operator Bharti Airtel's 5G services will be available in eight cities announced chairman

Sunil Bharti Mittal at India Mobile Congress.

• Airtel and Nokia have partnered to bring India’s first 5G-enabled immersive experience to visitors

at the Indian Mobile Congress (IMC) 2022.

• Airtel and Nokia will bring to life the cultural splendour of Kashi Vishwanath temple and the Statue

of Unity through holographic images demonstrating the benefits of ultra-fast and low latency 5G

networks.

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 Important Monthly Current Affairs Capsule – October 2022

• Bharti Airtel has become the first company to launch 5G services in the country.

• The services will be available in eight cities, including Delhi, Mumbai, Varanasi, Bangalore, and

others.

• Airtel will roll out 5G services in several cities across the country by March 2023 and across India

by March 2024.

• According to the telecom department, 5G technology is expected to deliver ten times better

download speed than that of 4G and up to three times greater spectrum efficiency.

• Bharti Airtel had placed the order for 5G gears with Ericsson, Nokia, and Samsung immediately

after the auctions were over.

• Bharti Airtel acquired spectrum worth ₹43,084 crores in the just-concluded auction.

IOCL has set up a subsidiary to pool the funds of its overseas units:

• India's top refiner Indian Oil Corp has set up a subsidiary to pool the funds of its overseas units to

meet capital and trade finance needs.

• The new unit - Finance Company - will help IOC benefit from interest arbitrage as the company's

borrowings increase after selling fuel locally at below-market rates.

• The Finance Company will be based in the International Financial Services Centre (IFSC) a t

Gujarat International Finance Tec-City (GIFT City) in western India.

• Companies based in GIFT City get a 100% income tax exemption for 10 years.

• The Finance Company will "carry out finance activities such as fund pooling of foreign companies

and utilize the same for carrying out trade financing of IOC and group companies".

• The Finance Company will also handle IOC's global treasury operation and utili ze IFSC to raise

capital and debt from overseas markets.

SIDBI and Dun & Bradstreet India launches SIDBI–D&B SPeX dedicated to MSMEs

• Small Industries Development Bank of India (SIDBI) and Dun & Bradstreet, the global leading

provider of business decisioning data and analytics, signed a Memorandum of Understanding

(MoU) to create the SIDBI -D&B Sustainability P erception Index (SIDBI – D&B SPeX),

Coimbatore, Tamil Nadu (TN).

About SIDBI – D&B SPeX:

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 Important Monthly Current Affairs Capsule – October 2022

• The Index, to be released every quarter, will capture the various business parameters that, when

analyzed at an aggregate level, will provide valuable insights into the adoption of an ESG

(Environmental, Social & Governance) framework.

• The index will be presented as a quantitative measurement for policymakers and enablers to

nudge businesses towards adopting an ESG framework in their business strategy over the coming

years.

• It will cover nearly 250 MSMEs every quarter from the D&B/SIDBI database of MSMEs.

• It is planned to cover the sectoral and sub-sectoral perceptions/aspirations & preparedness.

• It can assess the impact of regulations and government policy on environmental practices in the

SME (Small & Medium enterprises) sector.

• It can establish the Indian economy and markets (especially the mid-market segment) towards a

sustainable future, attracting sustainable capital and investments.

About SIDBI:

• Founded: 2 April 1990

• Headquarters: Lucknow, Uttar Pradesh, India

• Chairman & MD: Sivasubramanian Ramann

• SIDBI is the apex regulatory body for the overall licensing and regulation of micro, small and

medium enterprise finance companies in India.

• It is under the jurisdiction of the Ministry of Finance, Government of India.

About Dun & Bradstreet India:

• Founded: 1995

• Headquarters: Mumbai, Maharashtra

• MD & CEO: Avinash Gupta

RBI to ease net banking norms for customers of regional rural banks

• The Reserve Bank of India (RBI), has proposed to ease norms for internet banking for customers

of Regional Rural Banks (RRBs).

• Currently, RRBs are allowed to provide Internet Banking facilities to their customers with prior

approval of the Reserve Bank, subject to fulfillment of certain financial and non-financial criteria.

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 Important Monthly Current Affairs Capsule – October 2022

• To promote the spread of digital banking in rural areas, the criteria for RRBs to be eligible to

provide internet banking are being rationalized.

About RRB:

• RRBs are jointly owned by the central government, state government, and sponsor banks.

• The ratio of holding for the central government is 50%, the state government 15%, and the

sponsor bank 35%.

• RRBs provides various banking and financial services like MGNREGA wages disbursal, debit and

credit cards, and Unified Payment Service (UPI), among others.

• RRB was allowed to provide internet banking facilities in 2015.

About RBI:

• Established: 1 April 1935

• Headquarters: Mumbai, Maharashtra, India

• Governor: Shaktikanta Das

• Deputy governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi Shankar.

Cabinet Approves 4% DA Hike For Central Govt Employees

• The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved a proposal to increase

the dearness allowance (DA) & dearness relief (DR) of the central government employees and

pensioners by 4% under the 7th Pay Commission with effect from July 1, 2022.

• The increase in the DA and DR is based on the percentage increase in the 12 monthly averages

of the All India Consumer Price Index for the period ending June 2022.

• The additional installment of DA and dearness relief (DR) is an increase of 4% over the existing

rate of 34% of basic pay/pension & now, this has increased to 38%.

• This is the second increase in the dearness allowance of the central government employee in

2022.

Key Highlights:

• The impact of enhanced dearness allowance to the employees on the exchequer is estimated at

Rs 6,591.36 crore per annum and Rs 4,394.24 crore in 2 0 22- 23 ( 8 m o nths fr om J uly 2 022 to

February 2023).

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 Important Monthly Current Affairs Capsule – October 2022

• In case of dearness relief, the impact would be Rs 6,261.20 crore p er a nnum and R s 4 ,174.12

crore in the current fiscal.

• The combined impact on the exchequer on account of both Dearness Allowance and Dearness

Relief would be of the order of Rs 12,852.56 crore per annum and Rs 8,568.36 crore in the current

financial year.

• DA and DR are revised twice a year based on retail inflation-industrial workers.

• This is done to compensate for the loss in purchasing power of the monthly salary/pension wealth

due to inflation.

• Dearness allowance (DA) is given to government employees, while dearness relief (DR) is for

pensioners.

RBI may adopt an expected loss approach for banks' loan provisioning

• Governor Shri Shaktikanta Das announced that the Reserve Bank of India (RBI) adopted the

“expected loss” approach for loan provisioning.

• At present, the banks follow the “incurred loss” approach, where money is set aside after an asset

turns sour.

• RBI will release a discussion paper on the 'expected loss-based approach' for loan loss

provisioning by banks.

• The approach to make provisions or set aside money on the probable losses is a globally

accepted prudent norm.

• At present, larger non-bank lenders have already been using the expected loss approach for

provisioning since 2018.

ICICI Bank launches special account for Indian students in the UK

• ICICI Bank UK PLC, a wholly owned subsidiary of ICICI Bank Limited, offers a bank account to

Indian students aspiring to study in the UK called, ‘HomeVantage Current Account’ (HVCA).

• It is specially designed to meet every student’s banking needs in the UK.

About HVCA:

• The HomeVantage Current Account (HVCA), which comes with a Visa debit card valid for use

anywhere in the world, can be activated digitally before the students leave India for the U K.

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 Important Monthly Current Affairs Capsule – October 2022

• As an equivalent to savings accounts in India, the account holder can activate internet banking

and mobile banking once it has been activated.

• The students can opt for the physical debit card to be delivered to an Indian or UK address.

• According to the latest UK Home Office data released in August 2022 Indians have overtaken

China as the largest nationality being issued visas to study in UK institutions.

• Nearly 118,000 Indian students received Student Visas for the year ending June 2022 an 89%

increase from 2021.

About ICICI Bank:

• Founded: 5 January 1994

• Headquarters: Vadodara, Gujarat, India

• MD & CEO: Sandeep Bakhshi

• Tagline: Khayal Apka

NABARD sanctions Rs 222 cr to augment infrastructure in Punjab’s rural schools

• The National Bank for Agriculture and R ural Development (NABARD) has sanctioned Rs 221.99

crore from the Rural Infrastructure Development Fund (RIDF) to strengthen school infrastructure in

rural schools in Punjab.

Aim of the Project:

• To benefit a total of 3.80 lakh students, including likely new enrolment of 3.5 lakh students, in

more than 3,500 villages.

• The fund will be used to build 2,328 additional new classrooms, 762 labs, and 648 playgrounds in

rural schools in all 23 districts of Punjab

• In addition to this, 404 integrated science labs, 62 physics labs, 44 chemistry labs, 54 biology labs,

103 computer labs, and 55 National Skills Qualification Framework labs have also been

sanctioned.

• Presently, there are 632 projects underway that are being built with Rs 686 crore granted under

the RIDF by the Department of School Education, Punjab government.

About NABARD:

• Founded: 12 July 1982

• Headquarters: Mumbai, Maharashtra, India

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 Important Monthly Current Affairs Capsule – October 2022

• NABARD was established on the recommendations of the B. Sivaraman Committee (by Act 61,

1981 of Parliament).

• It is an apex regulatory body for the overall regulation of regional rural banks and apex

cooperative banks in India.

RBI to release a discussion paper on the securitization of stressed assets framework

• The Reserve Bank of India (RBI) will release a discussion paper on the Securitisation of Stressed

Assets Framework (SSAF).

• RBI has decided to introduce a framework for securitizing stressed assets to provide an alternative

mechanism for securitizing non-performing assets (NPAs) in addition to the existing Asset

Reconstruction Companies (ARC) route

• Currently, the Securitisation and Reconstruction of Financial Assets and Enforcement of Security

Interest (SARFAESI) Act, 2002 provides a framework for the securitization of NPAs to be

undertaken by Asset Reconstruction Companies (ARCs) licensed under the Act.

• Earlier in September 2021, the revised framework for the securitization of standard assets was

issued by RBI.

RBI to stop 28-day VRRR will continue with 14 -day auctions

• The Reserve Bank of India (RBI) will stop conducting 28-day variable rate reverse repo (VRRR)

auctions, considering the current banking system liquidity conditions, but will continue with 14-day

VRRR auctions.

• In Sep 2022, India's banking system liquidity slipped into deficit & it currently stands at a deficit of

187 billion Indian rupees ($2.29 billion).

• The RBI has been conducting 28-day VRRR auctions for 500 billion rupees since November 2021,

but these auctions have not been fully subscribed for the last few months.

• The RBI also conducts 14-day VRRR auctions for 2 trillion rupees and these too have failed to

attract complete subscriptions in the last few weeks.

SBI launches 'Gram Seva Program' across 6 states of India

• On the occasion of Gandhi Jayanti (Oct 02, 2022), State Bank Group Chairman Mr. Dinesh Khara,

adopted 30 remote villages across Aspirational Districts in Haryana, Gujarat, Maharashtra,

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 Important Monthly Current Affairs Capsule – October 2022

Punjab, Tamil Nadu (TN), and West Bengal (WB) under the 4th phase of the 'SBI Gram Seva'

program.

About SBI Gram Seva Program:

• SBI Gram Seva was launched in 2017 to build and develop Atmanirbhar Rural India.

• It is one of the flagship programs of the SBI Foundation, the Corporate Social Responsibility

(CSR) arm of the State Bank Group.

• The program emphasizes the holistic development of villages by active interventi on in areas like

education, healthcare, livelihoods, and infrastructure.

• The program has so far adopted 100 villages across 16 States in 3 phases.

• The launch of the 4th phase of SBI Gram Seva takes the program's outreach to a total of 130

villages, of which 75 villages are from Aspirational Districts notified by the NITI Aayog,

Government of India.

• Additionally, the SBI Gram Seva program covers 16 of the 17 SBI Circles in the country.

About SBI Foundation:

• Founded: 2015

• Headquarters: Mumbai, Maharashtra

• MD & CEO: Shri Sanjay Prakash

About SBI:

• Founded: 1 July 1955

• Headquarters: Mumbai, Maharashtra, India

• Chairman: Dinesh Kumar Khara

• Tagline: The Banker to Every Indian

NPCI Signs MoU with Central Bank of Oman to Enable UPI Payments in Oman

• The National Payments Corporation of India (NPCI) and Central Bank of Oman (CBO) signed a

historic Memorandum of Understanding (MoU) to launch the Rupay debit card in Oman, paving

the way for a new era of financial connectivity.

• This comes after New Delhi and Muscat reached a consensus to expand the Indian digital

payment ecosystem to the gulf region.

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 Important Monthly Current Affairs Capsule – October 2022

• The agreement will open the floodgates for Indian RuPay cards and the UPI platform in Oman for

seamless digital remittances, a move that is likely to benefit Indian workers and professionals.

• As per the latest NPCI data, UPI transactions in Sep 2022 grew by over 3% to Rs 678 crore from

Rs 657 crore in Aug 2022.

• So far countries including Singapore, Nepal, UAE, Bhutan, Malaysia, and France are among the

global nations that accept payments through UPI and RuPay Cards.

• While Australia is in advanced talks with India for early integration of UPI with the Australian New

Payment Platform.

• Russia has expressed interest in pushing dialogue on accepting the UPI and Faster Payments

System (FPS) of the Central Bank of Russia within their respective national payment

infrastructures.

• Earlier in September 2021 Liquid Group, a cross-border digital payment service provider signed

an agreement with NPCI International Payments Limited (NIPL) to launch a UPI-based QR code

payment system in Singapore, Malaysia, Thailand, the Philippines, Vietnam, Cambodia, Hong

Kong, Taiwan, South Korea, and Japan beginning in 2022.

Aditya Birla Health Insurance launches Activ Fit health insurance policy for young & healthy adults

• Aditya Birla Health Insurance Co. Limited. (ABHICL), the health insurance subsidiary of Aditya

Birla Capital Limited (ABCL), has launched the first of its kind ACTIV FIT health insurance policy,

a comprehensive health insurance plan for young and healthy adults.

About ACTIV FIT health insurance policy:

• It provides an upfront 10% good health discount based on an assessment done through a unique

facial scan.

• It offers up to 50% health returns on being active for 275 days in a year.

• In case of hospitalization, if they fall short of their insurance coverage, the customer can use the

100% Binge Refill feature.

• This feature enables them to get cover up to sum assured, for any illness/injury.

• The product also includes Modern treatments, Mental Care Cover, HIV/ AIDS and STD, Day Care

treatments, pre-hospitalization & post-hospitalization, and road ambulance cover

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 Important Monthly Current Affairs Capsule – October 2022

• Maternity expenses are covered for up to Rs 40,000 and Rs. 60,000 for normal and C-Section

deliveries, over and above the base sum insured.

• The road ambulance cover network is based on actual and for non-network hospitals, up to Rs

3,000 per event.

• All customers below the age of 35 years can avail of an Early Bird Discount at renewal, 5% from

the 4th to 7th policy year & 10% from the 8th policy year for the lifetime of the policy.

Additional benefits:

• The Consumers can opt, for include, no claim bonus (10% of the sum insured per annum, and a

maximum of up to 100%).

• There is also an option for health check-ups, available once during the policy year for insured

aged 18 years and above on the start date of the policy.

• The policy also comes with an optional cover of a super no-claim bonus of up to 50% of the sum

insured, a maximum of up to 100%.

About Aditya Birla Health Insurance Company Limited:

• Founded: 2015

• Headquarters: Mumbai, Maharashtra

• CEO: Mayank Bathwal

HDFC Life Insurance launches ‘Insure India’ campaign

• HDFC Life Insurance Company has launched the ‘Insure India’ campaign.

Aim:

• To educate Indians on the benefits of life insurance as a product category.

Objective:

• To educate Indians about life insurance thereby motivating them to secure their future with this

unique financial product that offers the dual benefits of protection and long-term savings.

• As part of this campaign, HDFC Life will host chat shows, hold on-ground activities, webinars, etc.,

for engaging with consumers both directly as well as indirectly through its wide network of

distributors.

• Previous initiatives of HDFC Life include 'Start the Talk', 'Get Set Protect', and 'Being Responsible'

which primarily aimed to educate consumers about life insurance.

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 Important Monthly Current Affairs Capsule – October 2022

About HDFC Life Insurance Company Ltd:

• Founded: 2000

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Vibha Padalkar

• It is a joint venture between HDFC Ltd., India's leading housing finance institution, and abrdn

(Mauritius Holdings) 2006 Limited, a global investment company.

JSW Cement secures Rs 400 cr as sustainability-linked loan from MUFG Bank

• JSW Cement has raised Rs 400 crore (USD 50 million) from MUFG Bank India as its first

sustainability-linked loan.

• It is the company's first sustainability-linked loan in the credit line.

• Whereas it is MUFG Bank India’s first transaction undertaken out of its new IFSC unit branch

launched in August 2022 in the Gujarat International Finance Tec-City (Gift City), Gandhinagar,

Gujarat.

• The funding will enable the company to meet its goal of 25 million tonnes per annum capacity by

FY25 and also forms part of its environmental, social, and governance (ESG) objectives.

About JSW Cement Ltd:

• Founded: 2009

• Headquarters: Mumbai, Maharashtra, India

• Managing Director: Parth Jindal

• JSW Cement is India's leading green cement company.

EXIM Bank extends $100- mn LoC to the Maldives for development projects

• Export-Import Bank of India [Exim Bank], on behalf of the Government of India, has extended a

Line of Credit (LOC) of USD 100 million to the Government of the Republic of the Maldives for

financing developmental projects.

• The agreement was signed by Maldives' Minister of Finance Mr. Ibrahim Ameer and Exim Bank's

general manager Mr. Nirmit Ved. India's Foreign Secretary Mr. V M Kwatra and his Maldivian

counterpart Mr. Ahmed Latheef were also present.

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 Important Monthly Current Affairs Capsule – October 2022

• With this, to date Exim Bank has extended 6 (Six) Lines of Credit to the Government of the

Republic of Maldives, on behalf of the Government of India, taking the total value of LOCs to USD

1.43 billion.

• Projects covered under the LOCs extended to the Government of the Republic of Maldives include

Greater Male Connectivity Project, Water & Sewerage Projects, Addu Development Project,

International Cricket Stadium Project, Defence projects, Gulhifalhu Port Project, Hanimaadhoo

Airport Project, Gan Airport Project, Fisheries Project, Road Construction Project, and Sports

Infrastructure.

• , Currently, Exim Bank has 311 Lines of Credit, covering 67 countries in Africa, Asia, Latin

America Oceania, and the CIS, with credit commitments of around USD 32.31 billion, available for

financing exports from India.

About EXIM Bank:

• Founded: 1982

• Headquarters: Mumbai, Maharashtra, India

• MD: Harsha Bangari

About the Maldives:

• President: Ibrahim Mohamed Solih

• Capital: Malé

• Currency: Maldivian rufiyaa

Karnataka Bank launches 'KBL Utsav' loan campaign

• Leading private sector lender Karnataka Bank Limited (KBL) has launched a special campaign

'KBL Utsav 2022-23' for home loans, car loans, and gold loans from Oct 01 to Dec 31, 2022, to

cater to the demands of customers during the festival season.

Aim:

• To help customers to own a home and a car, with real-time customer authentication, hassle-free

and simplified digital processing, and quick sanctions.

• The customers can avail the benefits of digital banking and offers of the special campaign across

all its 880 branches.

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 Important Monthly Current Affairs Capsule – October 2022

• Under the KBL Utsav campaign, customers can avail of Home, Car, and Gold loans with attractive

interest rates, reduction in processing charges for Car & Gold loans, and nil processing charges

for Home loans, apart from other benefits.

• The digital products are designed to ensure customer delight and satisfaction.

About Karnataka Bank:

• Founded: 18 February 1924

• Headquarters: Mangaluru, Karnataka, India

• MD & CEO: Mahabaleshwara M. S

• Tagline: Your Family Bank Across India

World Trade Organization lowered its forecast for growth in global trade volume by 1% from 3.4 %:

• The World Trade Organization lowered its forecast for growth in global trade volume to 1 % from

3.4 % earlier, citing rising downside risks.

• Due to several shocks to the global economy, world trade may lose momentum in the second half

of 2022 and remain subdued in 2023.

• However, the WTO increased its forecast for the growth of global merchandise trade for 2022 from

its April estimate of 3% to 3.5%.

• According to the latest WTO forecasts, the world GDP at market exchange rates will grow by 2.8

percent in 2022 and 2.3 percent in 2023.

• India's merchandise exports declined 3.5 % in September for the first time in 19 months.

About WTO:

• The World Trade Organization is an intergovernmental organization that regulates and facilitates

international trade.

• Governments use the organization to establish, revise, and enforce the rules that govern

international trade.

• Headquarters: Geneva, Switzerland

• Founded: 1 January 1995

• Membership: 164

• Director-General: Ngozi Okonjo-Iweala.

IDBI Bank launches many digital solutions on its 59th Foundation Day

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 Important Monthly Current Affairs Capsule – October 2022

• On the occasion of the 59th Foundation Day, IDBI Bank has launched a slew of initiatives catered

towards customer centricity and meeting the needs of the ever-evolving financial ecosystem.

• The Bank announced its foray into Open Network Digital Commerce (ONDC) for customers and

non-customers engaged in trade.

About ONDC:

• ONDC is an open network that will help Micro Small Medium Enterprise (MSME) and other retail

merchants to set up their Digital Stores and reap the benefits of the digital commerce revolution.

• The IDBI Bank ONDC Sellers App will enable merchants to on-boarding onto the ONDC Platform.

Initiatives Launched by IDBI Bank:

• The Bank launched the DigiKCC platform for the digitization of the Kisan Credit Card (KCC) loan

process with built-in capabilities for scrutiny of loan applications to enable end-to-end digital and

paperless journey.

About the DigiKCC platform:

• DigiKCC platform introduced in Maharashtra.

• This is the first-of-its-kind initiative for the digitization of KCC loans.

• It will be gradually extended to other states where the digitization of land records is streamlined.

• The Bank also launched WPS (Warehouse receipt Processing System) for an end-to-end

integrated digital solution for loans against Warehouse Receipts.

• The Bank enhanced its mobile banking app, GO Mobile+ to feature special amenities for Senior

Citizens under the “Naman” page, including facilities like door-step banking.

• IDBI Bank also introduced a Repo Linked Fixed Deposit scheme.

• The Bank announced a Special scheme of “Amrit Mahotsav Rinn Bhugtan Yojana” to boost its

recovery efforts through Time Settlement of NPAs up to Rs. 10 Crores, at attractive terms.

About IDBI Bank:

• Founded: 1 July 1964

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Rakesh Sharma

• Tagline: Banking for All, Aao sochein Bada

RBI governor Shaktikanta Das launches advanced supervisory monitory system – DAKSH

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 Important Monthly Current Affairs Capsule – October 2022

• The Reserve Bank of India (RBI) governor Shri Shaktikanta Das launched a new 'SupTech'

initiative called DAKSH.

• This application will be the bank's advanced supervisory monitoring system, which is expected to

make the supervisory processes more robust.

About DAKSH:

• DAKSH means 'efficient' and 'competent', reflecting the underlying capabilities of the application

• It is a web-based end-to-end workflow application through which RBI shall monitor compliance

requirements in a more focused manner.

Objective:

• To improve the compliance culture in Supervised Entities (SEs) like Banks, Non-Banking Financial

Companies (NBFC), etc.

• The app will help in strengthening supervision, by utilizing the latest data and analytical tools as

well as leveraging technology for implementing more efficient and automated work processes.

• It will also enable seamless communication, inspection planning, and execution, cyber incident

reporting, and analysis, & provision of various Management Information System (MIS) reports, etc

through a platform that enables anytime-anywhere secure access.

About RBI:

• Established: 1 April 1935

• Headquarters: Mumbai, Maharashtra, India

• Governor: Shaktikanta Das

• Deputy governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi Shankar

World Bank cuts India's GDP growth forecast to 6.5% for 2022-23

• The World Bank (WB) trimmed India’s growth forecast for 2022-23 (April-March) by 100 basis

points, projecting that the Indian economy will grow at 6.5% compared to its earlier estimate of

7.5% released in June.

• This is the third time the World Bank revised its GDP growth forecast for India in FY23.

• In June 2022 it had slashed its forecast to 7.5% & earlier in April 2022 it had trimmed the forecast

from 8.7% to 8%.

Key Highlights:

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 Important Monthly Current Affairs Capsule – October 2022

• Growth estimates for the South Asia region comprising India, Pakistan, Afghanistan, Bangladesh,

Sri Lanka, Nepal, Bhutan, and the Maldives were revised down to 5.8% from the 6.8% forecast in

June 2022.

• Real GDP grew 13.5% in the first quarter of FY'23, surpassing the pre-pandemic level by 3.8%

• The Reserve Bank of India (RBI) has recently cut the economic growth projection for the current

fiscal to 7% from the 7.2% estimated earlier.

• A top UN agency has also stated that India's economic growth will decline to 5.7% this year from

8.2% in 2021, citing higher financing costs and weaker public expenditures.

• According to the forecast by the United Nations Conference on Trade and Development

(UNCTAD) Trade and Development Report 2022, India’s GDP will further decelerate to 4.7%

growth in 2023.

About World Bank:

• Established: December 1944

• Headquarters: Washington, D.C., United States

• President: David Malpass

• The World Bank is the collective name for the International Bank for Reconstruction and

Development (IBRD) and International Development Association (IDA).

HDFC Bank launches SmartHub Vyapar Merchant app for SMEs

• India’s largest private sector bank HDFC Bank in partnership with a merchant Saas platform,

Mintoak Innovations India has developed the SmartHub Vyapar app.

About the SmartHub Vyapar app:

• The app is a comprehensive payment and banking solution designed to fulfill the everyday

business needs of merchants.

• On the banking front, merchants can avail of banking services like the opening of fixed deposits,

and quick access to pre-approved loans and credit cards.

• Also, Merchants can get a real-time view of all Smart Hub Vyapar transactions credited into their

bank account.

Key features of SmartHub Vyapar include:

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 Important Monthly Current Affairs Capsule – October 2022

• Instant, Digital & Paperless Onboarding.

• Become HDFC Bank SmartHub Vyapar Merchant instantly with your HDFC Bank Current A/c

• Face to Face and remote payment collection through multiple modes: Cards, QR and UPI

• Instant Settlement to the bank account on UPI transactions and Voice Notification on all

transactions

• To reduce merchant anxiety around transactions, it has been provisioned with an inbuilt voice

feature informing the merchant of successful transactions

• Apply for Fixed Deposits and Cards

• Easy Access to Business Loans, Overdraft facility, and Loan on Credit Card

• Easy Distributor & Vendor Payments: Up to 45 days of credit period via business credit cards

• Easy reconciliations of all transactions and bank credits

• Biz View: Monitor business growth in one single dashboard

• Offer creation and promotion to customers via social media

• Customer intelligence & recognition features for offering customized deals

• 24X7 customer support

• Pay later feature for customers: Record, Track & Collect Customer Dues

About HDFC Bank:

• Founded: August 1994

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Sashidhar Jagdishan

Unity Bank introduces a special FD scheme with a lucrative interest rate

• Unity Small Finance Bank Limited (Unity Bank), a modern, digital-first bank, has introduced

Shagun 501, a special fixed deposit scheme with attractive interest rates.

• This festive offer will be available only for deposits booked up to October 31, 2022.

About the special FD scheme:

• Under the Scheme, Retail consumers will receive a reasonable return of 7.90% annually for a 501-

day fixed deposit, while senior citizens would receive 8.40% per year.

• Unity Bank has also revised its interest rates on callable and non-callable bulk deposits (deposits

higher than Rs 2 crore).

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 Important Monthly Current Affairs Capsule – October 2022

• Callable bulk deposits offer up to 7% interest whereas non-callable bulk deposits offer up to 7.25%

interest.

About Unity Small Finance Bank Limited:

• Established: 2018

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Inderjit Camotra

RBI introduces Internal Ombudsman mechanism for Credit Information Companies (CICs)

• The Reserve Bank of India (RBI) introduced the Internal Ombudsman mechanism for Credit

Information Companies (CICs).

• It is directed to all the CICs holding a Certificate of Registration under sub-section (2) of Section 5

of the Credit Information Companies (Regulation) Act, 2005, to appoint an Internal Ombudsman

(IO) at the apex of their internal grievance redress mechanism by April 1, 2023.

• The implementation of the mechanism will be monitored by the CIC's internal audit system

• Under the mechanism, all complaints that are partly or wholly rejected by CICs will be reviewed by

the IO before the final decision of the CIC is conveyed to the complainant.

• The above direction was announced in the ‘Statement on Developmental and Regulatory Policies’

issued as part of the Monetary Policy statement dated August 05, 2022.

Eligibility of an internal ombudsman:

• Every CIC must appoint the Internal Ombudsman for a fixed term of 3 to 5 years

• Either a retired or a serving officer

• Not below the rank of Deputy GM or equivalent, should have at least 7 years of experience in the

banking sector

• Not attained the age of 70 before completion of the proposed term

• No reappointment for extension of term in the same CIC

• The internal ombudsman shall report to the Managing Director or Chief Executive Officer

administratively, and to the Board functionally.

Adani Group makes investments to the tune of ₹65,000 crores in Rajasthan:

• Adani Group will make fresh investments to the tune of ₹65,000 crores in Rajasthan over the next

5-7 years, including ₹7,000 crores for doubling the cement manufacturing capacity in the state.

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 Important Monthly Current Affairs Capsule – October 2022

• Combining all ongoing and future investments, we anticipate investing an additional ₹65,000 crore

in Rajasthan over the next 5 -7 years and creating over 40,000 direct and indirect jobs.

• The announcement comes days after Adani declared plans to invest over $100 billion in the next

decade, with 70% of it planned for the energy transition space.

• A week ago, Adani Group achieved commercial operation of the world’s largest wind-solar hybrid

power plant located in Rajasthan.

• The Group acquired Ambuja Cements and ACC recently, catapulting it to the second spot in the

list of India’s biggest cement producers.

• Adani Group’s other projects in Rajasthan are under various stages of execution and expansion.

RBI to launch a pilot project for the digital rupee

• The Reserve Bank of India (RBI) will soon commence the pilot launch of the Digital Rupee (e₹) for

specific use cases as it tests digital currency in India.

• It released a concept note on the Central Bank Digital Currency (CBDC).

About e-RUPI:

• e-RUPI is a cashless and contactless instrument for digital payment.

• It is a QR code or SMS string-based e-Voucher, which is delivered to the mobile of the

beneficiaries.

• It has been developed by the National Payments Corporation of India on its UPI platform, in

collaboration with the Department of Financial Services, the Ministry of Health & Family Welfare,

and the National Health Authority.

About CBDC:

• CBDCs are a digital form of a paper currency and unlike cryptocurrencies that operate in a

regulatory vacuum, these are legal tenders issued and backed by a central bank

• It is the same as a fiat currency (like the Indian rupee) and is exchangeable one-to-one with the

fiat currency

• The digital fiat currency or CBDC can be transacted using wallets backed by blockchain

• As of July 2022, 105 countries were exploring CBDC, accounting for 95% of the world GDP.

• The Bahamian Sand Dollar was the first to debut CBDC in 2020, while Jamaica's JAM-DEX was

the most recent.

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 Important Monthly Current Affairs Capsule – October 2022

• China became the world's first major economy to pilot a digital currency e-CNY in April 2020.

• According to the RBI, the e-Rupee can be structured as ‘token-based’ or ‘account-based’.

• Token-based CBDC: (which is a bearer instrument like banknotes, meaning whosoever holds the

tokens at a given point in time would be presumed to own them) is viewed as a preferred mode for

CBDC-R as it would be closer to physical cash.

• Account-based CBDC: (which requires maintenance of record of balances and transactions of all

holders of the CBDC and indicates the ownership of the monetary balances) may be considered

for CBDC-W.

About RBI:

• Established: 1 April 1935

• Headquarters: Mumbai, Maharashtra, India

• Governor: Shaktikanta Das

• Deputy governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi Shankar

GST income in September of this year increased by 26%:

• The Goods and Services Tax (GST) revenue in September this year saw a 26% year-on-year

jump at ₹1.48 lakh crore, the third highest ever collections crossing the ₹1.40 lakh crore mark for

the seventh consecutive month on robust business activities despite the global economic

slowdown.

• While the gross GST revenue collection in September at ₹1,47,686 crore.

• GST monthly collections stabilizing above Rs1.4 lakh crore for seven months in a row would

provide more headroom on the fiscal front.

• GST was introduced through the 101st Constitution Amendment Act, of 2016.

• It is one of the biggest indirect tax reforms in the country.

• It was introduced with the slogan of ‘One Nation One Tax.

India's direct tax collection surged 24 percent to Rs 8.98 lakh crore:

• The Finance Ministry informed that India's direct tax collection surged 24 percent to Rs 8.98 lakh

crore between April 1 - October 8, 2022.

• The gross collection of taxes on corporate earnings rose 16.74 percent from April 1 to October 8,

while personal income tax collection jumped 32.30 percent,

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 Important Monthly Current Affairs Capsule – October 2022

• Direct tax collection came at Rs 8.98 lakh crore between April 1 to October 8, 2022, 23.8 percent

higher than the gross collection in the corresponding period a year ago.

• Tax collection is an indicator of economic activity in any country.

• But in India, the robust tax collection was despite a slowdown in industrial production and exports.

RBI cancels the license of Pune-based Seva Vikas Co-operative Bank

• The Reserve Bank of India (RBI) has canceled the license of Pune-based The Seva Vikas Co-

operative Bank Ltd because of the company’s earnings prospects and lack of capital.

• The bank does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with

Section 56 of the Banking Regulation Act, 1949.

• According to the data submitted by the bank, about 99% of the depositors are entitled to receive

the full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation

(DICGC).

• This payment is made in compliance with the provisions of the DICGC Act, 1961 based on the

willingness received from the concerned depositors of the Bank.

• Earlier in August 2022, the banking regulator canceled the license of Pune-based Rupee

Cooperative Bank.

About RBI:

• Established: 1 April 1935

• Headquarters: Mumbai, Maharashtra, India

• Governor: Shaktikanta Das

• Deputy governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi

Shankar

IDBI Bank partners with Vayana Network on supply chain finance

• IDBI Bank has signed a Memorandum of Understanding (MoU) with Vayana Network as its first

fintech partner for end-to-end digitization services.

Aim:

• To contribute to the growth of the Supply Chain Finance (SCF) penetration in India, which is less

than 1 % of the gross home product (GDP) and contributes only 5% of the outstanding banking

assets.

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 Important Monthly Current Affairs Capsule – October 2022

• This platform is expected to reduce paperwork, and transaction processing time while providing a

smooth customer experience throughout.

About IDBI Bank:

• Founded: 1 July 1964

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Rakesh Sharma

• Tagline: Banking For All Aao Sochein Bada Bank Aisa Dost Jaisa

Nomura moderates India's FY24 GDP growth to 5.2%

• Japanese brokerage Nomura has projected a sharp moderation in India's growth rate for FY24 to

5.2% as compared to the FY23 GDP growth estimate at 7%.

• The economy grew at 4% in FY20 a multi-year low.

• It expects inflation to average 6.8% in FY23, a tad above the RBI's 6.7% estimate, and cool down

to 5.3% in FY24.

About Nomura:

• Founded: December 25, 1925

• Headquarters: Tokyo, Japan

• President and Group CEO: Kentaro Okuda

RBI imposes monetary penalty on Kerala State Cooperative Bank

• The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 48 lakh on the Kerala

State Co-operative Bank Ltd for non-compliance with the provisions of section 19 read with

section 56 of the Banking Regulation Act, 1949 (the Act) and directions issued by RBI on ‘Gold

Loan – Bullet Repayment’.

• The penalty has been imposed in the exercise of powers conferred on RBI under section 47 A (1)

(c) read with sections 46 (4) (i) and 56 of the Act.

• The bank failed to comply with the RBI directions limiting the quantum of gold loans that could be

granted under the bullet repayment option.

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 Important Monthly Current Affairs Capsule – October 2022

NPCI launches program to connect with payments-oriented service providers

• National Payments Corporation of India (NPCI) has launched NPCI Partner Program (NPP) to

collaborate with various technological service providers, application service providers, and other

similar entities in the industry.

Aim:

• To connect with innovative and important payments-oriented service providers.

• To augment the retail payments ecosystem by reducing the time to market and being more

transparent and accessible.

• This one-of-a-kind initiative will help in building new offerings that are better aligned with the needs

and demands of the contemporary market.

About the NPCI Partner Program:

• The program will also act as a knowledge-sharing platform with exclusive workshops on NPCI

products and services, participation in NPCI pilot projects, and building a marketplace through

community engagement.

• The participants will get early access to ready-to-test Application Programming interfaces (APIs)

and specifications for core development and deployment.

About NPCI:

• Founded: 2008

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Dilip Asbe

• The NPCI is the specialized division of the Reserve Bank of India (RBI) which is under the

jurisdiction of the Ministry of Finance, Government of India.

RBL Bank partners BookMyShow to launch ‘Play’ credit card

• RBL Bank has partnered with BookMyShow to launch a new credit card ‘Play’ that will take the

entertainment quotient for Indian audiences several notches higher.

About the ‘Play’ credit card:

• The card will be available to select customers on BookMyShow and give them access to offers on

transactions across movies and live entertainment offerings (online and offline).

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 Important Monthly Current Affairs Capsule – October 2022

• The eligible customers will be able to avail of offers on binge-watching movies and TV series on

BookMyShow Stream by renting or buying a title while enjoying benefits with every purchase

made.

• The consumers will be able to track the entire journey from application to delivery of the ‘Play’

credit card on BookMyShow, with real-time updates enabled within the platform

• The card owners will also be able to avail of varied offers on brands including boAt, Myntra, WOW

Momos, Archies, Cookie Man, Ixigo and Eat Sure listed within the F&B section of BookMyShow.

Benefits of ‘Play’ credit card:

• Customers can enjoy a joining benefit of credits in the form of BMS Cash worth Rs 200 if

onboarded through the video Know Your Customer (KYC)

• A welcome benefit of Rs 500 is available by making the first transaction within 30 days after

activation of the card

• A monthly offer of Rs 500 in the next billing month upon card spends of Rs 5,000 or more across

movies, live events, and BookMyShow Stream, in the current billing month.

• Rs 100 off on F&B purchased on the BookMyShow platform while booking movie tickets.

• Earlier in 2016, RBL Bank had partnered with BookMyShow for the launch of the Fun Plus credit

card.

About RBL Bank:

• Founded: 1943

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Mr. R Subramaniakumar

• Tagline: Apno ka Bank

South Indian Bank enters World Book of Records for '101 Oonjals'

• The South Indian Bank for the first time organized a first-of-its-kind category event 'Onnichirikkam

Oonjaladam' (Sit together and Swing) and was accoladed with the World Book of Records award

for 'staging and swinging 101 Oonjals' simultaneously at a single venue in Kochi.

• The World Book of Records team presented the Award to South Indian Bank Managing Director

(MD) & Chief Executive Officer (CEO) Mr. Murali Ramakrishnan & other officials.

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 Important Monthly Current Affairs Capsule – October 2022

• An Oonjal is a sturdy rectangular plank suspended by iron link chains hooked to the ceiling of a

hall or balcony.

• Oonjals are a part of a ritual at the weddings of a section in Tamil Nadu.

• In Kerala, the swinging tradition forms an integral part of Onam festivities.

About South Indian Bank:

• Founded: 1928

• Headquarters: Thrissur, Kerala, India

• MD & CEO: Murali Ramakrishnan

• Tagline: Experience Next-Generation Banking

SBI unveils next-gen contact center service

• The State Bank of India (SBI) unveiled its next-gen contact center service to deliver a superior

customer experience.

Aim:

• To explore embedding advanced AI/ML-based technologies, including conversational IVR, and

voice bots.

• The revamped Contact Center will set a new industry benchmark with 30+ banking solutions

offered in 12 languages, available 24×7 from the comfort of home.

• Currently, the contact center manages about 1.5 crore monthly calls, with about 40% self-serviced

through IVR, and the rest managed by over 3500 tele-caller representatives operating through 4

toll-free helpline numbers.

• The bank has introduced easy-to-remember 4-digit toll-free numbers (1800-1234 or 1800-2100) to

simplify the process further.

About SBI:

• Founded: 1 July 1955

• Headquarters: Mumbai, Maharashtra, India

• Chairman: Dinesh Kumar Khara

• Tagline: The Banker to Every Indian

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 Important Monthly Current Affairs Capsule – October 2022

Dvara E-Dairy & Jana SFB jointly launch cattle loan service for farmers in TN & Karnataka

• Dvara E-Dairy Solutions Private Limited in partnership with Jana Small Finance Bank has

launched Dvara Surabhi Loan, a cattle loan offered digitally by leveraging new-age technologies to

create scalable access to finance for unbanked and underbanked small dairy farmers in Tamil

Nadu and Karnataka.

About Dvara Surabhi Loan:

• The loan offers tailored loan products for dairy farmers for cattle purchase and maintenance.

• The loan is provided depending on a combination of the ‘Surabhi Score’, a comprehensive score

based on the digital assessment of the cattle management under various factors, as well as the

farmers’ credit score.

• This helps mitigate the risk and helps identify the ‘right borrower’ for the loan.

• The loan amount varies between Rs. 30,000 to Rs. 150,000, with an average ticket size of Rs.

80,000.

As part of its Surabhi platform, D vara E-Dairy has created the following solutions:

Surabhi ID: Unique, the digital, tamper-proof, verifiable identity of the cattle based on muzzle identity.

Surabhi Score: Comprehensive score arrived based on the digital assessment of the cattle leveraging

artificial intelligence (AI) and incorporating advanced veterinary science and practices.

Dvara Surabhi: a Do-it-yourself (DIY) mobile application for the farmers to know the cattle’s health status

(as an indicator) within 60 seconds.

Dvara Surabhi Loan: Cattle loan by leveraging Surabhi Score + C

About Dvara E-Dairy Solutions Private Limited:

• Headquarters: Chennai, Tamil Nadu, India

• Founder & CEO: Ravi K A

About Jana SFB:

• Founded: 2018

• Headquarters: Bangalore, Karnataka, India

• CEO: Ajay Kanwal

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 Important Monthly Current Affairs Capsule – October 2022

Paytm partners with Jana Small Finance Bank for the deployment of card devices

• One97 Communications Limited (OCL), which owns the brand Paytm, has partnered with Jana

Small Finance Bank to deploy card machines to further drive digitization among merchants across

India.

• With this partnership, Paytm and Jana Small Finance Bank will further drive the digital payments

revolution in India.

About the Partnership:

• The partnership will enable Jana Small Finance Bank bank to extend Paytm's All-in-one Electronic

Data Capture (EDC) machines to its existing and potential customers, providing a one-stop

solution for all their digital payment needs.

• Paytm’s card machine provides multilingual support to its merchant partners to accept payments

through UPI, credit/debit cards, net banking, international cards, Paytm Postpaid, Paytm Wallet,

and EMI.

• With over 4.5 million devices deployed, Paytm continues to be the market leader in offline

payments.

About Paytm:

• Founded: August 2010

• Headquarters: Noida, Uttar Pradesh, India

• Founder & CEO: Vijay Shekhar Sharma

About Jana Small Finance Bank:

• Founded: 2018

• Headquarters: Bangalore, Karnataka, India

• CEO: Ajay Kanwal

SBI first bank to achieve this milestone, home loan AUM crosses ₹6 trillion

• India's largest home loan provider, the State Bank of India (SBI) continues to lead the Home Loan

segment and has surpassed ₹6 trillion in Assets Under Management (AUM).

Aim:

• To make home loans affordable for all prospective buyers amidst the ongoing festive season.

• SBI has launched the Festive Bonanza for its home loan buyers.

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 Important Monthly Current Affairs Capsule – October 2022

• The bank crossed ₹5 trillion mark in January 2021.

• As a part of the Festive Bonanza, SBI will offer a concession of up to 0.25% on Home Loans,

0.15% on Top Up Loans, and 0.30% on Loan Against Property.

• The bank has further waived the processing fees on home loans till January 31, 2023.

About SBI:

• Founded: 1 July 1955

• Headquarters: Mumbai, Maharashtra, India

• Chairman: Dinesh Kumar Khara

• Tagline: The Banker to Every Indian

The Ministry of Statistics & Programme Implementation retail inflation rose to 7.41 %:

• IMF has lowered its forecast of growth for India to 6.8% and highlighted the threat of inflation, the

retail inflation rose to a 5-month high of 7.41 percent in September from 7 percent in August, data

released by the Ministry of Statistics & Programme Implementation (MoSPI).

• The rise in inflation in September was driven by higher food prices, with food inflation surging to

8.6 percent from 7.62 percent in August.

• This is the 9th month in a row that inflation is above the RBI mark and it does not look likely to

come down any time soon.

• Separately, India’s factory output, measured through the Index of Industrial Production (IIP),

witnessed a contraction of (-) 0.8 percent in August, the data showed.

Hero MotoCorp launched its first electric scooter worldwide:

• Hero MotoCorp, India's largest two-wheeler maker, launched its first electric scooter worldwide, as

it looks to catch up with newer firms who have taken the lead in th e country's clean mobility push.

• The new Hero Vida V1 electric scooter will be offered in two variants, which are Vida V1 Plus and

Vida V1 Pro.

• It would be first launched in New Delhi, Jaipur, and Bangalore and the deliveries of this electric

scooter will start in the second week of December.

• Hero MotoCorp Limited, formerly Hero Honda, is an Indian multinational motorcycle and scooter

manufacturer headquartered in New Delhi.

• Pawan Munjal, Chairman and CEO at Hero Moto Corp.

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 Important Monthly Current Affairs Capsule – October 2022

World Bank extends unconditional loan of $250 million for the SALT project in AP

• The World Bank (WB) has extended an unconditional loan of $250 million to Support Andhra’s

Learning Transformation (SALT) project in appreciation of the path-breaking reforms implemented

by the Andhra Pradesh (AP) government.

About SALT Project:

• The SALT is the first project in the school education sector to be funded by the World Bank

without any precondition.

• The facilities in schools were vastly improved under the Nadu-Nedu program to provide an

atmosphere that was conducive to teaching and learning.

• Approximately ₹53,000 crores had been spent on school education in the last 3 years and a major

chunk of it (₹22,617 crores) had gone to Amma Vodi and the first phase of the Nadu-Nedu

scheme.

• In the academic year 2022-2023, more than 40,31,239 children were studying in government

schools.

About World Bank:

• Established: December 1944

• Headquarters: Washington, D.C., United States

• President: David Malpass

• The World Bank is an international financial institution that provides loans and grants to the

governments of low- and middle-income countries.

Reserve Bank of India issues consolidated guidelines on unhedged foreign currency exposure

• The Reserve Bank of India (RBI) issued modified and consolidated guidelines to the banks on

Unhedged Foreign Currency Exposure (UFCE) Directions in 2022.

• These directions will apply to all commercial banks (excluding Payments Banks & Regional Rural

Banks).

• These instructions shall come into force from January 1, 2023.

• Entities that do not hedge their foreign currency exposure can incur significant losses during a

period of heightened volatility in foreign exchange rates.

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 Important Monthly Current Affairs Capsule – October 2022

• These losses may reduce their capacity to service the loans taken from the banking system and

increase their probability of default thereby affecting the health of the banking system.

About RBI:

• Established: 1 April 1935

• Headquarters: Mumbai, Maharashtra, India

• Governor: Shaktikanta Das

• Deputy governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi

Shankar

Universal Sompo General Insurance adopts a village in Maharashtra

• Universal Sompo General Insurance Company Ltd adopts Tung village, in the Maval sub-district of

Maharashtra. Universal Sompo committed to pledging INR 50 Lakh in developmental activities in

the village.

• This was followed by sharing details of the project with the village chief and the entire community

and simultaneously introducing the physician who would supervise healthcare-related activities.

Aim:

• To educate the women in the village on digital literacy and farm animal (veterinary) treatment.

About the Project:

• To boost enterprise, women from the village will be trained to utilize digital platforms like Google

Pay, and YouTube, along with various social media platforms for developing businesses.

• The project also helps to equip 60% of the households in the village with solar lights, helping

200 families with reduced electricity bills.

• Additionally, the project aims to increase the groundwater level in the village, with artificial

recharges to conserve water.

About Universal Sompo General Insurance Co. Ltd:

• Founded: 2007

• Headquarters: Mumbai, Maharashtra

• MD & CEO: Mr. Sharad Mathur

• Universal Sompo is a Joint venture of Indian Bank, Indian Overseas Bank, Karnataka Bank,

Dabur Investments, and Sompo Japan Insurance Inc.

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 Important Monthly Current Affairs Capsule – October 2022

RBI cancels registration certificates of 8 NBFCs

• The Reserve Bank of India (RBI) canceled the certificates of registration of eight non-banking

finance companies (NBFC) in India.

• Four NBFCs surrendered their certificates of registration to the RBI.

The four NBFCs are:

1. Ashwini Investment Private Ltd

2. RM Securities Pvt Ltd

3. Amity Finance Private Ltd

4. Matrix Merchandise Ltd.

• Separately, the RBI suo-moto canceled certificates of another 4 NBFCs - SRM Properties and

Finance Company Pvt Ltd, North East Region Finservices Ltd, Sowjenvee Finance Ltd, and Opel

Finance Ltd.

• The above companies shall not transact the business of a non-banking financial institution, as

defined in clause (a) of Section 45-I of the Reserve Bank of India Act, 1934.

About RBI:

• Established: 1 April 1935

• Headquarters: Mumbai, Maharashtra, India

• Governor: Shaktikanta Das

• Deputy governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi

Shankar

India's annual wholesale price-based inflation (WPI) eased in September to 10.70%:

• India's annual wholesale price-based inflation (WPI) eased in September to 10.70% as against

12.41% recorded in August 2022 and 11.8% in September last year

• September is the 18th consecutive month of double-digit WPI inflation.

• This year, the Wholesale Price Index (WPI) touched a record high of 15.88% in May.

• Earlier this week, government data showed that India’s retail inflation accelerated to a five-month

high of 7.41% in September, driven by soaring food costs, adding pressure on the Reserve Bank

of India (RBI) to act aggressively to slow price increases.

• Inflation has remained over the RBI’s upper tolerance band of 6% for the ninth straight month.

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 Important Monthly Current Affairs Capsule – October 2022

• The RBI mainly looks at retail inflation to frame monetary policy. RBI’s monetary policy committee

(MPC) hiked the repo rate for the fourth time in a row on 30 September, taking the policy rates to a

three-year high of 5.9%.

Indian Army signs MoU with 11 banks for Agniveer salary package

• The Indian Army has signed a Memorandum of Understanding (MoUs) with 11 banks for providing

banking facilities to Agniveers on enrolment.

List of 11 banks:

1. State Bank of India (SBI)

2. Punjab National Bank (PNB)

3. Bank of Baroda (BoB)

4. IDBI Bank

5. ICICI Bank

6. HDFC Bank

7. Axis Bank

8. Yes Bank

9. Kotak Mahindra Bank (KMB)

10. IDFC First Bank

11. Bandhan Bank.

Signatories:

• The MoUs were signed by Lt General V Sreehari, DG (Manpower Planning and Personnel

Services) and the senior officials of banks in a ceremony presided over by Lt General C Bansi

Ponappa, the Adjutant General of the Indian Army.

• The first batch of Agniveers under the 'Agnipath Scheme' will be joining Training Centres by

January 2023.

About 'Agnipath Scheme':

• The Agnipath scheme entails recruitment for individuals below the rank of commissioned officer

for 4 years.

• After 4 years, they will receive ₹11.71 lakh as part of the Seva Nidhi Package, which will be

exempted from Income Tax.

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 Important Monthly Current Affairs Capsule – October 2022

• The scheme provides for the recruitment of youths between ages 17-and-half years and 21

years for four years with a provision to retain 25% of them for 15 more years.

• The scheme allows patriotic and motivated youth to serve in the Armed Forces for four years &

soldiers who are recruited under this scheme will be known as Agniveers.

• It has been designed to enable a youthful profile of the Armed Forces and provide a fresh lease

of 'Josh' and 'Jazba' whilst at the same time bringing about a transformational shift towards a

more tech-savvy Armed Forces which is indeed the need of the hour.

• Agniveers will be paid ₹33,000 in the second year, ₹36,500 in the third year, and ₹40,000 in the

fourth.

• They will also be provided with a non-contributory Life Insurance Cover of Rs. 48 lakh for the

period of their service in the Armed Forces.

• The Indian navy will enroll women, and sailors, for the first time under the Agnipath Scheme.

About MoD:

• Union Minister: Rajnath Singh

• Minister of State: Ajay Bhatt

• Defence Secretary: Dr. Ajay Kumar

RBI intervening in the NDF market, monitoring rupee positions

• The Reserve Bank of India (RBI) has been selling dollars in the non-deliverable forward (NDF)

market via local banks based in India's GIFT City International Financial Services Center, as it

seeks to support the sliding rupee.

• The rupee has repeatedly hit record lows in recent sessions as the likelihood of more super-sized

rate hikes from the U.S. Federal Reserve piles pressure on emerging market currencies.

• The intervention by the RBI in the onshore NDF market was confirmed by Treasury officials at two

large private sector banks present in the International Financial Services Centre (IFSC) at Gujarat

International Finance Tec-City (GIFT City) in western India.

• For the RBI, the GIFT route is the easiest in terms of accessibility to the NDF market.

• In finance, a non-deliverable forward is an outright forward or futures contract in which

counterparties settle the difference between the contracted NDF price or rate and the prevailing

spot price or rate on an agreed notional amount.

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 Important Monthly Current Affairs Capsule – October 2022

About RBI:

• Established: 1 April 1935

• Headquarters: Mumbai, Maharashtra, India

• Governor: Shaktikanta Das

• Deputy governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi

Shankar

India has achieved merchandise export of USD 32.62 billion in September 2022:

• India achieved a monthly value of merchandise export in September 2022 amounting to USD

32.62 billion.

• India’s merchandise export in April -September 2022-23 was USD 229.05 billion.

• India’s merchandise import in September 2022 was USD 59.35 billion.

• India’s merchandise imports in April -September 2022-23 was USD 378.53 billion.

• The trade deficit in September 2022 was USD 26.72 billion, while it was 149.47 billion USD during

April -September 2022-23.

SafeGold has introduced the world's first platform named “Gains”:

• Homegrown digital gold platform SafeGold launched a new leasing offering called ‘Gains’ which

will allow consumers to lease individually owned gold.

• It will allow over 100 million retail gold consumers in the country to change their perspective on the

precious metal, giving it a larger purpose of income generation rather than mere accumulation.

• Not only this, but the new feature will also empower India’s underserved MSME jewelry industry.

• MSME jewelers will be able to list their leases on the SafeGold platform once the jeweler has been

thoroughly vetted for creditworthiness and KYC verified.

• Jewellers listing their lease choose the yield rate and tenure they wish to offer and provide a bank

guarantee covering at least 105 percent of the value of the gold to be leased.

• SafeGold Founder and MD Gaurav Mathur.

LIC unveils Dhan Varsha life insurance plan

• The Life Insurance Corporation of India (LIC) introduced Dhan Varsha, a non-linked, non-

participating, individual, savings, single premium life insurance plan offering a combination of

protection and savings.

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 Important Monthly Current Affairs Capsule – October 2022

• This plan provides financial support for the family in case of unfortunate death of the life assured

during the policy term.

• It also provides a guaranteed lumpsum amount on the date of maturity for the surviving life

assured.

• This is a close-ended plan and would be available for sale till March 31, 2023.

About Dhan Varsha:

• The Plan can be purchased Offline through agents or other intermediaries including Point of Sales

Persons- Life Insurance (POSP-LI)/ Common Public Service Centers (CPSC-SPV) subject to

certain conditions, as well as Online directly through the website www.licindia.in.

• Under this plan, the proposer will have the following two options to choose Sum Assured on

Death:

• Option 1: 1.25 times Tabular Premium for the chosen Basic Sum Assured

• Option 2: 10 times of Tabular Premium for the chosen Basic Sum Assured

About LIC:

• Founded: 1 September 1956

• Headquarters: Mumbai, Maharashtra, India

• Chairperson: Shri. Mangalam Ramasubramanian Kumar

• MDs: B C Patnaik, Smt. Ipe Mini, Siddharth Mohanty, Rajkumar

SBI General Insurance launches insurance buying facility via WhatsApp

• SBI General Insurance has partnered with Gupshup, a leader in conversational engagement to

offer a new insurance policy, renew an existing one, intimate claims, and more, through

WhatsApp.

Key Highlights:

• Customers across India can buy insurance from SBI General by sending a ‘Hi’ and Gupshup’s

chat bot will guide users through a simple and secure buying process, and help them complete the

purchase within the WhatsApp chat thread.

• The hassle-free buying experience ensures that end-to-end policy purchase happens on the

platform itself, right from exploring product features to accessing their policy documents.

About SBI General Insurance:

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 Important Monthly Current Affairs Capsule – October 2022

• Founded: 2009

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Kishore Kumar Poludasu

About Gupshup:

• Headquarters: San Francisco, California

Karnataka Bank launches term deposit scheme ‘KBL Centenary Deposit Scheme’

• To mark the glorious journey towards the Centenary year (2023-24) Karnataka Bank Limited

(KBL) has launched a unique term deposit scheme ‘KBL Centenary Deposit Scheme’ with a higher

rate of interest.

• The deposit will be for 555 days with an interest rate of 7.20% p.a & for Senior Citizens the rate of

interest will be 7.60% p.a.

About Karnataka Bank:

• Founded: 18 February 1924

• Headquarters: Mangaluru, Karnataka, India

• MD & CEO: Mahabaleshwara M. S

• Tagline: Your Family Bank Across India

• It is an 'A' Class Scheduled Commercial Bank.

Mahindra & Mahindra Financial Services partners with IPPB to boost credit access to customers

• Mahindra & Mahindra Financial Services Limited, (MMFSL), part of the Mahindra Group & one of

India’s leading Non-Banking Finance Companies, announced a strategic partnership with India

Post Payments Bank (IPPB) to further enhance credit access to a larger customer base.

About the Partnership:

• Under this Partnership, IPPB will provide Lead referral services to MMFSL for Passenger

Vehicles, 3-Wheeler, Tractor, and Commercial Vehicle Loan categories.

• It provides cash Equated Monthly Income (EMI) deposit facility to existing MMFSL Customers at

Post Offices.

• The scheme would first go live in IPPB branches in the states of Maharashtra and Madhya

Pradesh.

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 Important Monthly Current Affairs Capsule – October 2022

• With the launch of Cash Management services, Mahindra Finance customers can visit the Post

Office to deposit EMI payments.

About MMFSL:

• Founded: 1991

• Headquarters: Mumbai, Maharashtra, India

• Chairman & Managing Director: Ramesh Iyer

• MMFSL is an Indian rural non-banking financial company.

About IPPB:

• Founded: 1 September 2018

• Headquarters: New Delhi, Delhi, India

• MD & CEO: J. Venkatramu

• IPPB, is a division of India Post which is under the ownership of the Department of Post, a

department under the Ministry of Communications of the GoI.

RBI gives in-principle approval to Cygnet to operate as an NBFC account aggregator

• Fintech firm Cygnet Infotech Private Limited has received in-principle approval from the Reserve

Bank of India (RBI) to operate as a non-banking financial company (NBFC) account aggregator.

About Account Aggregator:

• Account Aggregator is one of the largest open financing data-sharing protocols regulated by the

RBI.

• It allows consumers to instantly share their financial data, securely and digitally with various

financial institutions.

• It facilitates financial institutions to quickly and conveniently access consumers' consent-based

financial data.

• Small and medium-sized businesses will get better credit facilities whilst banks and other financial

institutions will get an opportunity to widen their lending portfolio.

• Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance

Regulatory and Development Authority of India (IRDAI), and Pension Fund Regulatory &

Development Authority (PFRDA) are already in various stages of integration with the account

aggregator ecosystem as Financial Information Providers (FIP).

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 Important Monthly Current Affairs Capsule – October 2022

About Cygnet Infotech Private Limited:

• Founded: 2000

• Headquarters: Ahmedabad, Gujarat

• MD & CEO: Niraj Hutheesing

About RBI:

• Established: 1 April 1935

• Headquarters: Mumbai, Maharashtra, India

• Governor: Shaktikanta Das

• Deputy governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi

Shankar

Cashfree Payments launches ‘issuance’ solution for fintech firms

• India’s leading payments and Application Programming Interface (API) banking solutions

company, Cashfree Payments India Private Limited, has launched a card issuance stack with its

new solution ‘Issuance’ to enable businesses such as fintech and platforms to launch prepaid

cards and wallets for their customers, employees, and partners.

About ‘Issuance’:

• ‘Issuance’ is a prepaid card and wallet issuance API stack which can be used for payroll &

incentive disbursals, customer loyalty programs, and expense management among other use

cases.

• ‘Issuance’ allows businesses to launch both physical and virtual prepaid cards.

• It will offer low-code and no-code flows to enable businesses to launch their customized prepaid

card or wallet in a few weeks without deep integration with multiple entities.

• It enables platforms to design and customize their prepaid card features including assigning spend

limits, creating a closed loop, open loop, or hybrid payment options, and facilitating minimum and

full KYC prepaid cards.

• ‘Issuance’ allows businesses to launch both mono-branded and co-branded prepaid cards.

About Cashfree Payments:

• Founded: 2015

• Headquarters: Bangalore, Karnataka

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 Important Monthly Current Affairs Capsule – October 2022

• Founder and CEO: Akash Sinha

HDFC Securities Opens First Women-Only Digital Center In Bengaluru

• Leading stock brokerage firm, HDFC Securities Limited, has opened the first-ever Women-Only

Digital Centre (DC) in Bangalore, Karnataka, India.

• The center, staffed with a team of women aged below 30 years, will serve both male and female

investors.

Aim:

• To encourage these women to take charge of their finances with a women-only team at the new

DC.

• It will be based in Bengaluru and cater to customers from Karnataka, Tamil Nadu, Andhra

Pradesh, and Telangana.

Key Highlights:

• The DCs will give women easier access to HDFC’s services.

• Only 7% of Indian women invest independently in the financial markets, and 33% of women don’t

have any financial investment.

• HDFC Securities is already in the process of hiring “600 relationship managers for our pan-India

DCs.”

About HDFC Securities Ltd:

• Founded: 2000

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Dhiraj Relli

• HDFC Securities Limited is a financial services intermediary and a subsidiary of HDFC Bank.

India Post Payments Bank (IPPB) and Reserve Bank Innovation Hub (RBIH) Collaborate for innovations

in Financial Products and Services

• India Post Payments Bank (IPPB) and Reserve Bank Innovation Hub (RBIH) have partnered to

enhance the reach of financial solutions to large sections of society across India and enable

frictionless finance to a billion Indians.

Key Highlights:

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• IPPB and RBIH will plan, design, and execute innovative products and offerings to bridge the

existing gap by bringing digitized services to the customer’s doorstep.

• The collaboration will explore projects which will have an impact on the masses by

1. leveraging the deep rural reach of IPPB-Department of Posts (DoP) to take rural finance to a

billion Indians.

2. It will enable access to sustainable and secure financial services to every segment of society,

through research and innovation.

• Additionally, IPPB shall be an active participant and partner with RBIH on initiatives of national

importance led by RBIH.

About RBIH:

• CEO: Shri Rajesh Bansal

• The RBIH is a wholly-owned subsidiary of the Reserve Bank of India (RBI) set up to promote and

facilitate an environment that accelerates innovation across the financial sector.

• It has been set up as a Section 8 company under the Companies Act, 2013 with an initial capital

contribution of Rs. 100 crore.

About IPPB:

• Founded: 1 September 2018

• Headquarters: New Delhi, Delhi, India

• Chairman & Director: Vineet Pandey

• MD & CEO: J. Venkatramu

• IPPB has been established under the Department of Posts, Ministry of Communication with 100%

equity owned by the Government of India.

PhonePe launches its first Green Data Center in India with Dell Technologies and NTT Ltd

• India’s leading fintech platform, PhonePe, has launched its first Green Data Center in India, in

Mumbai, Maharashtra leveraging technologies and solutions from Dell Technologies and NTT.

About Green Data Center:

• The Green Data Center is set to open up new opportunities in data management for PhonePe,

with efficient data security, power efficiency, ease of operations, and cloud solutions.

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 Important Monthly Current Affairs Capsule – October 2022

• The center will also help the company to build sustainable and efficient infrastructure to further

seamlessly scale its operations across the country.

• The 4.8-megawatt facility occupies 13740 sqft at Mahape, Navi Mumbai, Maharashtra.

• It is built and designed with advanced alternative cooling technologies like Direct Contact Liquid

Cooling (DCLC) and Liquid Immersion Cooling (LIC).

• The data center’s Dell PowerEdge servers will provide exceptional performance, simplified

management, and intelligent automation while using less energy.

About PhonePe:

• Founded: 2015

• Headquarters: Bengaluru, Karnataka, India

• Founder & CEO: Sameer Nigam

Purchase ICICI Lombard with a 1450-rupee target: Motilal Oswal

• Research from ICICI Lombard by Motilal Oswal- The underwriting loss for ICICIGI was INR1.5

billion in 2Q as contrasted to INR1.9 billion in 1QFY23 since OPEX increased at 9% rise while

NEP grew at 11%.

• As a result of higher claims in the Motor OD and the Health sectors offsetting the benefits of lower

loss ratios in the Motor TP and Fire sectors, the claims ratio climbed to 72.8% in 2Q from 72.1% in

1QFY23.

• Over the previous year, the ICICI Lombard report ratio climbed by 300bps.

• Higher rates caused investment income, which was expected to be INR7.4 billion, to come in at

INR8.7 billion instead.

• In a contrast to 105.3%/104.1% in the 2QFY22 and 1QFY23, the total ratio in the 3QFY22 was

105.1%.

• The solvency ratio is now 2.5x compared to 2.6x in 1QFY23.

• PAT was INR4.6 billion after accounting for an INR1.3 billion tax reversal (est. INR3.8b).

• The PAT was recorded as INR5.9b.

GIFT City & Fintech Association of Japan sign MoU to Strengthen Fintech Ecosystem

• The Gujarat International Finance T ec-City (Gift City) has inked an agreement with the Fintech

Association of Japan (FAJ) to promote innovation and entrepreneurship in the fintech domain.

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 Important Monthly Current Affairs Capsule – October 2022

Aim:

• To strengthen and create more value for the entities in GIFT City that will further spread

awareness, knowledge, and empowerment in the fintech domain.

• GIFT City and FAJ will also organize boot camps, hackathons, and incubation and acceleration

programs focused on fintech areas such as payments, lending, financial planning, insurance

technology, regulatory technology, wealth management, and trade processing, among others.

• The entrepreneurial programs will also focus on financial inclusion, cyber security, artificial

intelligence (AI), blockchain, and human augmentation.

About GIFT City:

• Managing Director and Group CEO: Mr. Tapan Ray

• GIFT City is a central business district under-construction in Gandhinagar and Ahmedabad in

Gandhinagar district in Gujarat, India.

• The first operational smart city and International Financial Services Centre (IFSC) in India is GIFT

City.

NPCI Bharat Billpay partners Kotak Mahindra Bank for credit card bill payments

• NPCI Bharat BillPay Ltd. (NBBL), the wholly-owned subsidiary of the National Payments

Corporation of India (NPCI), has partnered with Kotak Mahindra Bank Limited (KMBL) to introduce

its credit cards on the Bharat BillPay ecosystem.

• Kotak Mahindra Bank has become the first private bank to go live in the credit card category on

the Bharat BillPay ecosystem.

Key Highlights:

• The cards will be introduced in the Credit Card Biller category.

• With this, Kotak credit card holders will be able to pay their credit card bills at any point in time

from any given location through Bharat BillPay-enabled channels like ICICI Bank, Axis Bank, and

HDFC Bank, among others, and get instant confirmation on payments.

• Bharat BillPay is a one-stop destination offering recurring payment services to customers across

several segments including electricity, telecom, DTH, gas, education fees, water, and municipal

taxes, NETC FASTag recharge, loan repayments, insurance, cable, subscription fees, mobile

prepaid recharges, among other things.

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 Important Monthly Current Affairs Capsule – October 2022

About KMBL:

• Founded: February 2003

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Uday Kotak

MakeMyTrip, Goibibo, and OYO were penalized by CCI by 392 crore rupees:

• The Competition Commission of India (CCI) levied fines of Rs 392 crore against Make My Trip,

Goibibo (MMT-Go), and OYO.

• These companies were penalized by CCI for "unfair business practices," as detailed in a 131-page

decision.

• OYO will pay a punishment of Rs 168.88 crore, and Make My Trip and Goibibo will each pay Rs

223.48 crore.

• According to MMT-Go, its contracts with lodging partners required pricing parity.

• These agreements forbid the hotel from offering its rooms for sale on any other websi te or

platform for less than the price listed by the two organizations.

• OYO received special treatment on the Make My Trip platform, preventing other businesses from

accessing the market.

• The conclusions come from a thorough study of the situation that lasted from 2019 until now.

• Additionally, the CCI ordered MMT-GO to make the necessary changes to the contracts it has with

hotels and hotel chains to remove or abandon the price parity and room availability requirements it

had placed on these partners.

IDBI Bank introduces festive offers on fixed deposits for a limited period

• The private sector lender IDBI Bank has launched the "Amrit Mahotsav FD" scheme of 555 days

commencing as part of its festive offer.

• The bank has launched a special, limited-time offer with an interest rate of 6.90% for 555 days.

Key Highlights:

• The Bank has also raised its interest rate offerings on term deposits across a range of maturity

periods.

• The interest rate on a one-year deposit has climbed to 6.75%, while the highest rate for a two-year

bucket is now 6.85%.

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 Important Monthly Current Affairs Capsule – October 2022

About Amrit Mahotsav FD Scheme:

• The Amrit Mahotsav FD Scheme of 500 Days and 1100 Days will no longer be offered from

October 21, 2022.

• The bank provides a 6.40% interest rate on the "Amrit Mahotsav FD" program to the general

public and a 6.90% interest rate to senior citizens.

• Senior citizens will only be eligible for the standard markup of 0.50%, and retired senior citizen

staff will only be eligible for the standard markup of 1%.

About IDBI Bank:

• Founded: 1 July 1964

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Rakesh Sharma

• IDBI Bank Limited is a development finance institution under the ownership of the Life Insurance

Corporation of India (LIC) and the Government of India.

Aditya Birla Health Insurance launches policy with rewards for healthy habits

• Aditya Birla Health Insurance Co Limited (ABHICL) has launched ‘Activ Fit’, a comprehensive

health insurance plan that targets consumers with active lifestyles and aims to reward them for

their good health behavior.

Key Highlights:

• The scheme will provide a 10% good health discount based on the assessment done through a

unique facial scan.

• All customers below 35 years of age can avail early bird discount on renewal, 5% from the 4th

policy year to the 7th policy year and 10% from the 8th policy year for the life of the policy.

• Customers will also get a 100% binge refill feature.

• “In case of hospitalization, customers can use a 100% binge refill facility if they fall short of their

insurance cover.

• The facility enables them to get cover for any illness/injury up to the sum insured.

• The insurance policy also includes maternity cover, which covers normal delivery, C -section

delivery, newborn baby expenses, immunization expenses, and stem cell protection as well as

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 Important Monthly Current Affairs Capsule – October 2022

modern treatment mental care cover, HIV/AIDS and STD, day care treatment, and pre – Includes

hospitalization.

About ABHICL:

• Founded: 2015

• Headquarters: Mumbai, Maharashtra

• CEO: Mayank Bathwal

• It was established as a 51:49 joint venture between MMI Strategic Investments (Pty) Ltd, MMI

Holdings Limited, Aditya Birla Nuvo Limited, and Aditya Birla Capital Limited (ABCL).

National Pension System: PFRDA changes equity allocation rule under NPS for Tier I, and Tier II

accounts

• The Pension Fund Regulatory and Development Authority (PFRDA) has revised the equity

allocation rules for Tier 1 and Tier II National Pension System (NPS) accounts.

• As per the new rule, subscribers will be able to allocate up to 75% of their funds in Equity (E)

under active choice without any conditions of tapering from the age of 51 years.

• Currently, under the NPS-All Citizen Model, subscribers have to select any one of the registered

Pension Funds and actively allocate their contributions across four asset classes – Equity (E),

Corporate Bonds (C), Government Securities (G), and Alternate Assets (A) with ‘Active Choice’.

Maximum limits for allocation to different asset classes:

• Asset Class G (Government Securities): 100%

• Asset Class C (Corporate Bonds):100%

• Asset Class E (Equity): 75%

• Asset Class A (Alternate Assets): 5%

• However, the limit of 75% on asset class E gets tapered off at the rate of 2.5% every year and is

reallocated to Government securities when the subscriber attains 51 years of age.

• It has also decided to allow the option to allocate 100% of the subscriber’s contribution in Asset

Class E (Equity) in Tier-II (optional account) underactive choice without any conditions of tapering.

Age-wise maximum equity limit:

Age 50 51 52 53 54 55 56 57 58 59 60 & above

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 Important Monthly Current Affairs Capsule – October 2022

Max Equity 75 72.5 70 67.5 65 62.5 60 57.5 55 52.5 50

• The Asset class wise exposure limits that will now apply to private sector subscribers under Tier I

and to all subscribers in Tier II are tabulated below:

Tier –I

Asset Class Max limit

Asset Class G (Government Securities) 100%

Asset Class C (Corporate Bonds) 100%

Asset Class E (Equity) 75%

Asset Class A (Alternate Assets) 5%

Tier-II

Asset Class Max limit

Asset Class G (Government Securities) 100%

Asset Class C (Corporate Bonds) 100%

Asset Class E (Equity) 100%

About NPS:

• The NPS is a voluntary defined contribution pension system in India.

• NPS started with the decision of the Government of India to stop defined benefit pensions for all

its employees who joined after 1 April 2004.

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 Important Monthly Current Affairs Capsule – October 2022

• In 2021, PFRDA increased the entry age for the National Pension System (NPS) from 65 years to

70 years.

• NPS Trust is a specialized division of the Pension Fund Regulatory and Development Authority

which is under the jurisdiction of the Ministry of Finance of the GoI.

About PFRDA:

• Founded: 23 August 2003

• Headquarters: New Delhi, Delhi, India

• Chairman: Supratim Bandyopadhyay

• The PFRDA is the regulatory body under the jurisdiction of the Ministry of Finance, Government of

India for overall supervision and regulation of pensions in India.

ICICI Bank launches Smart Wire for faster SWIFT-based inward remittances

• ICICI Bank has launched Smart Wire, an online solution to help its customers carry out SWIFT

(Society for Worldwide Interbank Financial Telecommunications) based inward remittances in a

faster and hassle-free manner.

• The Smart Wire facility allows both Non-Resident Indians (NRIs) and resident customers to

undertake inward remittance transactions in an online and paperless way.

• ICICI Bank is the first bank in the country to introduce this faster online solution to receive inward

wire remittances.

Key Highlights:

• The Smart Wire facility enables the beneficiary to initiate the wire transfer request, submit online

declaration/documents, block the exchange rates in advance and track the status of the

transaction.

• Through this facility, accurate information related to the beneficiary, the purpose of the inward

remittance, and declaration, where required, are captured in advance and shared with the remitter

instantly.

• The beneficiary can block the exchange rate for the expected inward wire transfer.

• The deal booking facility is available for US Dollar (USD), Euro (EUR), British pound sterling

(GBP), Emirati Dirham (AED), Canadian Dollar (CAD), Singapore Dollar (SGD), and Australian

Dollar (AUD).

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 Important Monthly Current Affairs Capsule – October 2022

Benefits:

• The Smart Wire facilitates can be used for various purposes of remittances including family

maintenance and savings, personal gift / financial support, NRE/ NRO repatriation, salary,

business, and management consultancy.

About ICICI Bank:

• Founded: 5 January 1994

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Sandeep Bakhshi

SEBI clarifies Guidelines about the Execution of DDPI

• The Securities and Exchange Board of India (SEBI) widened the scope of the Demat Debit and

Pledge Instruction (DDPI) for pledging and repledging of securities for margin purposes effective

from November 18, 2022.

• Under DDPI, Mutual fund transactions executed on stock exchange order entry platforms and

tendering of shares in open offers through stock exchange platforms will be covered.

• The circular is issued in exercise of the powers conferred under Section 11(1) of the Securities

and Exchange Board of India Act, 1992, and Section 19 of the Depositories Act, 1996, to protect

the interests of investors in securities and to promote the development of and to regulate the

securities markets.

• With the implementation of the guidelines, the Demat Debit and Staking Instruction (DDPI)

replaced the PoA document.

• The DDPI shall serve the same purpose as PoA and significantly mitigate the misuse of PoA.

About SEBI:

• Established: on 12 April 1988 as an executive body and was given statutory powers on 30

January 1992 through the SEBI Act, 1992

• Headquarters: Mumbai, Maharashtra

• Chairman: Madhabi Puri Buch

• SEBI is the regulatory body for securities and commodity markets in India under the ownership of

the Ministry of Finance within the GoI.

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 Important Monthly Current Affairs Capsule – October 2022

SEBI cancels Brickworks license, orders wind-up by April

• The Securities and Exchange Board of India (SEBI) canceled the license of Brickwork Ratings,

prohibited it from taking up new clients, and directed it to wind up operations in 6 months.

• It was taken as it failed to exercise proper skill, care, and diligence while discharging its duties as

a credit rating agency

• SEBI & the Reserve Bank of India (RBI) conducted a joint audit of the rating agency in January

2020 that led to an administrative warning and inquiry.

• The SEBI order listed various violations by Brickwork, including failure to document meetings with

the management, lack of independent analysis of financial projections given by companies, delay

in recognizing defaults, and conflict of interest.

About Brickwork Ratings:

• Brickwork Ratings (BWR), a SEBI’s one of the seven registered Credit Rating Agencies...

BSE gets SEBI nod for social stock exchange as a separate segment

• Stock exchange BSE has got an in-principle nod from the capital market regulator Securities and

Exchange Board of India (SEBI) for the social stock exchange as a separate segment.

• The SEBI had specified minimum requirements to be met by a non-profit organization (NPO) for

registration with SSE, disclosure requirements for NPOs raising funds through the issuance of

zero-coupon zero principal instruments, and put in place annual disclosure requirements that need

to be made by NPOs on such exchanges.

• The listed NPO will have to submit a statement of the utilization of funds to SSE, as mandated

under Sebi's rules, within 45 days from the end of the quarter.

Key Highlights:

• The social enterprises will have to engage in a social activity out of 16 broad activities listed by the

regulator.

• The eligible activities include eradicating hunger, poverty, malnutrition, and inequality; promoting

healthcare, supporting education, employability, and livelihoods; gender equality empowerment of

women and LGBTQIA+ (lesbian, gay, bisexual, transgender, queer, questioning, intersex,

pansexual, two-spirit, asexual and allay) communities; and supporting social enterprise incubators.

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 Important Monthly Current Affairs Capsule – October 2022

• In July 2022 SEBI notified rules for Social Stock Exchange (SSE) to provide social enterprises

with an additional avenue to raise funds.

• About the minimum requirements to be met by an NPO, Sebi informed me that NPO needs to be

registered as a charitable trust and should be registered for at least 3 years.

• It must have spent at least ₹50 lakh annually in the past financial year and should have received

funding of at least ₹10 lakh in the past financial year.

Google is fined Rs.1337 crore in India for abusing its dominant position:

• The country's competition commission fined Google, a unit of Alphabet Inc., Rs 1,337 crore for

anti-competitive behavior involving Android mobile devices.

• The Competition Commission of India (CCI) fined Google for "abusing its dominant position in

several places within the Android mobile device ecosystem."

• Google described the decision to penalize it for alleged anti-competitive actions as a "significant

setback for Indian consumers and businesses."

• In the current case, the commission identified five appropriate markets to serve this function.

• In India, there was a market for licensable mobile operating systems for smart devices, an Android

app store, general web search services, non-OS specific mobile web browsers, and an online

video hosting platform (OVHP).

Russia's Gazprombank opens special Re account with UCO Bank

• Russia's Gazprombank has opened a special Rupee account with UCO Bank for undertaking

cross-border trade transactions in the Indian Rupee

• The move to open the special Vostro account clears the deck for settlement of payments in Rupee

for trade between India and Russia, enabling cross-border trade in the Indian currency which the

central bank RBI is keen to promote.

• The Kolkata-based lender was among the first banks to receive the regulator's approval following

the RBI's decision to promote Rupee settlement.

• The RBI has allowed the special Vostro accounts to invest the surplus balance in Indian

government securities to help popularize the new arrangement.

• UCO Bank already has a Vostro account-based facility in Iran.

About Gazprombank:

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 Important Monthly Current Affairs Capsule – October 2022

• Founded: 1990

• Headquarters: Moscow, Russia

• CEO: Andrey Akimov

• Gazprombank, or GPB, is a privately-owned Russian lender and the third-largest

bank in the country by assets.

About UCO Bank:

• Founded: 6 January 1943

• Headquarters: Kolkata, West Bengal, India\

• MD & CEO: Soma Sankara Prasad

• Tagline: Honors Your Trust

DCB Bank Reintroduces Suraksha Fixed Deposit Scheme

• The DCB Bank has relaunched its 'Suraksha Fixed Deposit (FD)' scheme.

• It is a 3-year FD scheme that provides a combination of savings and safety for depositors as well

as their dependents.

• The DCB NRI Suraksha Fixed Deposit also offers NRIs attractive returns and free life insurance

based on the fixed deposit amount.

• DCB NRI Suraksha Fixed Deposits are available in Non-Resident External (NRE), and Non-

Resident Ordinary (NRO) in Indian Rupees.

• NRIs may use any of the following foreign currencies to make their DCB NRI Suraksha Foreign

Currency Non-Resident Account (FCNR) Deposit: Dollars (USD), Australian Dollar (AUD),

Canadian Dollar (CAD), EURO, or British Pound Sterling (GBP).

About 'Suraksha Fixed Deposit (FD)':

• The scheme provides a high-interest rate of 7.10% per annum on a 3-year deposit and free life

insurance cover either equal to the amount of the Suraksha FD or up to Rs 10 lakh if the Suraksha

FD amount is greater than Rs 10 lakh.

• The life insurance cover is available with a term of 36 months and is valid from 18 years of age till

the depositor turns 55.

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 Important Monthly Current Affairs Capsule – October 2022

• On the other hand, the bank offers a 7.10% per annum interest rate on fixed deposits of 700 days

or 3 years, which annually yields 7.49% p.a. or 7.84% p.a. respectively.

• Senior citizens can earn 7.60% p.a. for the same duration, and the yields are 8.05% p.a. and

8.45% p.a. Respectively.

• For a longer tenure of 5 years FD, a 7% p.a. rate is available for which the annualized yield is

8.43% p.a. Senior citizens can earn a 7.50% p.a. which translates to a 9.14% p.a. annualized

yield.

About DCB Bank:

• Headquarters: Mumbai, Maharashtra, India

• MD & CEO: Murali M. Natrajan

• DCB Bank Limited is a private sector scheduled commercial bank in India.

• The Aga Khan Fund for Economic Development (AKFED) is the promoter of the Bank with around

15% stake.

Indian bank launches digital initiatives under project WAVE

• Public sector l ender Indian Bank has rolled out 6 new digital initiatives under ‘Project WAVE’

(World of Advance Virtual Experience) for enhancing customer experience through integrated

services on its digital platform.

• The new products were rolled out by the bank MD & CEO S.L. Jain in the presence of ED Imran

Amin Siddiqui and Universal Sompo General Insurance Co. Ltd., MD & CEO Sharad Mathur in

Chennai.

About the Initiatives:

• Indian Bank ties up with Universal Sompo General Insurance for providing online vehicles (02-

Wheeler and 04-Wheeler) and health insurance through the Bank’s mobile banking app

IndOASIS.

• This digital collaboration would enable Bank’s customers to access and buy general insurance

products digitally, anytime, anywhere.

• Under the co-lending arrangement, Indian Bank has partnered with Rupeek Capital Pvt. Ltd, to

offer jewel loans at customer doorsteps.

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 Important Monthly Current Affairs Capsule – October 2022

• The entire gold loan journey will be through a digital platform and not require any physical visit to

the bank branch by the customer.

• The public sector lender has extended pre-approved personal loans to self-employed customers

of the bank as well.

• Since April 2022 it has been offered to salaried customers and pensioners.

• Currently, Indian Bank has extended the e-OD (Overdraft) facility against Term Deposits opened

at branches by individual customers which were previously offered for e- deposits only.

About Indian bank:

• Founded: 15 August 1907

• Headquarters: Chennai, Tamil Nadu, India

• MD & CEO: Shri Shanti Lal Jain

• Tagline: Your Own Bank

India Post Payment Bank launches group accident insurance plan

• The India Post Payments Bank (IPPB) operating under the Department of Posts has launched a

group accident insurance plan with an accidental death coverage of Rs 10 lakh.

• The India Post in partnership with TATA AIG and Bajaj Allianz General Insurance companies will

offer the insurance plan at a premium of Rs 399 or Rs 396 per annum.

About group accident insurance plan:

• The plan covering comprehensive medical emergencies has a low annual premium amount.

• One can join it at any post office or with the help of a postman or postwoman.

• Anyone aged between 18 and 65 years can join this insurance plan.

• The policy will be issued digitally in five minutes using a smartphone or a fingerprint sensor carried

by the postman under the e-KYC (Aadhaar-based) method.

• This doesn’t need any application forms, copies of identity, and address proof.

• The insurance plan will offer around 10 major benefits for the applicant including permanent total

or permanent partial disability coverage of Rs 10 lakh, an option to cover accidental medical

expenses up to Rs 60,000, and transportation benefits for the family members traveling to see the

accident victim.

About IPPB:

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 Important Monthly Current Affairs Capsule – October 2022

• Founded: 1 September 2018

• Headquarters: New Delhi, Delhi, India

• MD & CEO: J. Venkatramu

• IPPB, is a division of India Post which is under the ownership of the Department of Post, a

department under the Ministry of Communications of the Government of India.

IRDAI approved the bima sugam portal

• The Insurance Regulatory and Development Authority of India (IRDAI), announced the launch of

Bima Sugam, an online marketplace that will house all companies selling life and non-life

insurance on a single platform.

• The portal is scheduled to go live on 1 January 2023.

About Bima Sugam:

• The online platform will provide you with a one-stop destination for all insurance needs, providing

services like buying insurance policies, portability facilities, change of insurance agents, and

settling claims.

• It allows buyers to purchase life, motor, or health insurance policies directly.

• Also, web aggregators (such as PolicyX, PolicyBazaar, etc.), brokers (such as Bajaj Capital,

Probus Insurance Broker, etc.), banks, and insurance agents will act as facilitators in selling

insurance policies.

• It will provide all these facilities to policyholders with an e-insurance account (E-IA).

Stakeholders:

Key Stakeholders Stake Fund Infusion

Life Insurance Council 30% 25 Cr.

General Insurance Council 30% 25 Cr.

Online PSBs 35% 30 Cr.

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 Important Monthly Current Affairs Capsule – October 2022

Brokers Association 5% 3 Cr.

• Bima Sugam shall have linkages with the Unique Identification Authority of India (UIDAI) National

Securities Depository Limited (NSDL), and Central Depository Services Limited (CDSL).

About IRDAI:

• Founded: 1999

• Headquarters: Hyderabad, Telangana

• Chairperson: Debasish Panda

• IRDAI is a regulatory body under the jurisdiction of the Ministry of Finance, Government of India,

and is tasked with regulating and licensing the insurance and re-insurance industries in India.

IRDAI offers more flexibility to general insurance companies

• The Insurance Regulatory & Development Authority of India (IRDAI) has offered more flexibility to

general insurance companies in designing and pri cing p r oducts under miscellaneous lines of

business and allowed them to launch these in the market without prior regulatory approval.

• This is part of IRDAI's endeavor to boost the ease of doing business.

• Earlier, the products with a sum assured above Rs 5 crore could be launched without prior

approval of IRDAI.

• But insurers needed regulatory approval before launching products with a sum assured up to Rs 5

crore.

• Now, IRDAI said that it has extended the ‘Use and File’ procedure , ie. launching insurance

products without prior approval, to all categories.

• Coca-Cola, a multinational soft drink corporation, declared that the Indian market had made

"Sprite," a lemon- and lime-flavored soft drink, a billion-dollar brand.

• In the third quarter of 2022, the company's India business experienced "strong" volume growth.

• Strong growth was achieved by Trademark Coke through efficient execution and occasion-based

marketing.

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 Important Monthly Current Affairs Capsule – October 2022

• Through the introduction of returnable glass bottles and single-serve PET containers, Coke has

completed 2.5 billion transactions in India at reasonable pricing points.

• As it increased its share of effervescent offers in the first half of 2022, Coca-Cola strengthened

further.

• Due in large part to the success of locally tailored, occasion-based global marketing campaigns

and screen time, Sprite has developed into a billion-dollar brand in the market.

• Coca-Cola had declared that its Indian soft drink brand Thumps up would reach $1 billion in sales

by 2021.

• The fifth-largest market for Coca-Cola worldwide is India.

The BSE has introduced electronic gold receipts:

• The Bombay Stock Exchange (BSE) released Electronic Gold receipts (EGR ) on its platform.

• During the Muhurat trading on Diwali, it presented two new goods with purity levels of 995 and

999.

• Trading will be in 1-gram increments, with deliveries in 10-gram and 100-gram increments.

• It will be settled in T+1. EGR enables efficient gold price discovery and standardization,

transparency in gold transactions, promotion of the India Good Delivery Standard, and payment

guarantees to investors.

• With an annual gold demand of roughly 800-900 tonnes, India is the world's second-largest

consumer of gold, and it plays a significant role in global markets.

• Despite being second only to China in gold consumption, India has remained a price taker in

global markets.

• To remedy the issue, the Government of India has authorized the establishment of a gold

exchange, where the metal will be traded on Indian exchanges in the form of Electronic Gold

Receipts (EGR).

India's foreign reserves have reached a new low, forcing the RBI to spend $118 billion to protect the INR:

• India's foreign exchange reserves (Forex Reserves) fell to a level not seen in more than two

years, as the country's central bank, the Reserve Bank of India (RBI), defended the rupee's fall

while ignoring the serious threat posed by dwindling foreign exchange reserves.

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 Important Monthly Current Affairs Capsule – October 2022

• According to the RBI's Weekly Statistical Supplement, the decline in foreign currency reserves can

be attributed to a decline in Foreign Currency Assets (FCA), which account for a sizable share of

overall reserves.

• FCA is the outcome of the appreciation or devaluation of non-US currencies held in foreign

exchange reserves, such as the euro, pound, and yen, represented in dollars.

• During the week ending October 21, the rupee fell for the sixth consecutive week, reaching an all-

time low and breaching the 83 per dollar threshold.

• It fell 0.4% for the week and closed at 82.6750.

• It fell by almost 4% in the six weeks that ended on October 21.

• According to Reserve Bank of India data, the third largest economy in Asia's foreign exchange

reserves fell by $3.85 billion to $524.52 billion in the week ending October 21.

• Spot foreign exchange reserves have fallen from a record high of $642.45 billion on September 3

of last year to a low of $607 billion at the end of March.

Shiprocket is the first inter-city logistics company to join the ONDC Network:

• Shiprocket is the first inter-city logistics company to connect to the ONDC network, allowing

vendors from all industries to transport products to cities and towns across India.

• Shiprocket, a provider of shipping and logistics solutions, went operational on the government's

Open Network for Digital Commerce (ONDC) and completed its first successful transaction.

• Shiprocket claims to be the first inter-city logistics company to connect to the ONDC network,

allowing retailers from all segments to transport products to cities and towns throughout India.

About Shiprocket:

• Shiprocket, which has over 100,000 clients, will allow sellers from 24,000 pin codes to choose

delivery partners to send products across India via both cash-on-delivery and pre-paid

alternatives.

About ONDC:

• ONDC is a private non-profit Section 8 company established by the Government of India's

Department for Promotion of Industry and Internal Trade (DPIIT) to develop open e-commerce.

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RBI lifts ban on new branches by Tamilnad Mercantile Bank

• The Reserve Bank of India (RBI) has lifted its 3-year ban on 101-year-old Tamilnad Mercantile

Bank (TMB) on opening new branches

• This comes in the backdrop of the bank's shares getting listed in the Indian Stock Exchanges on

September 15, 2022.

About TMB:

• Founded: 11 May 1921

• Headquarters: Thoothukudi, Tamil Nadu, India

• MD & CEO: K V Rama Moorthy

• At present, it has 509 branches - 106 rural, 247 semi-urban, 80 urban, and 76 metropolitans.

About RBI:

• Established: 1 April 1935

• Headquarters: Mumbai, Maharashtra, India

• Governor: Shaktikanta Das

• Deputy governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi

Shankar

IRDAI sets up a consultative committee to increase health insurance coverage

• The Insurance Regulatory and Development Authority of India (IRDAI) has constituted a 15-

member committee for 2 years, to give suggestions for increasing health insurance coverage in

India.

• The 15-member committee is headed by Rakesh Joshi, a member at IRDAI, & it will have

representatives from the healthcare and insurance industries.

Other Committee Members:

• From the healthcare industry, Devi Prasad Shetty, chairman of Narayana Health; Naresh Trehan,

chairman and managing director (MD) of Medanta Heart Institute; Alexander Thomas, national

president of Association of Healthcare Providers India; Arati Verma, senior vice president of Max

Healthcare, and Ajay Nair.

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 Important Monthly Current Affairs Capsule – October 2022

• From the insurance industry, Neerja Kapur, chairman and MD of New India Assurance; Bhargav

Dasgupta, MD, and CEO of ICICI Lombard General Insurance, Mayank Bathwal, CEO of Aditya

Birla Health Insurance, and Vibha Padalkar, MD and CEO of HDFC Life,

• The committee will also have representation from the third-party administrators (TPA) with Nayan

Shah, CEO, of Paramount Health Services & Insurance TPA, and Vikram Chhatwal, CEO, Medi-

Assist Insurance as members.

About the Committee:

• The Committee will identify challenges in carrying out the health insurance business and make

recommendations to facilitate ease.

• According to the IRDAI, health insurance premiums posted 18.9% year-on-year (YoY) growth in

H1FY23, compared to 28.8% growth in the same period in FY22.

About IRDAI:

• Founded: 1999

• Headquarters: Hyderabad, Telangana

• Chairperson: Debasish Panda

• IRDAI is a regulatory body under the jurisdiction of the Ministry of Finance, Government of India,

and is tasked with regulating and licensing the insurance and reinsurance industries in India.

• It was constituted by the Insurance Regulatory and Development Authority Act, of 1999, following

the recommendations of the Malhotra Committee

NAREDCO sets up NFC to help builders in getting funds

• National Real Estate Development Council (NAREDCO), under the Ministry of Housing and Urban

Affairs (MoHUA), has formed a Finance Committee (NFC) on the sidelines of NAREDCO 24th

Annual General Meeting to enable developers easy access to funds based on merit and viability of

the projects.

Key Highlights:

• The Committee will operate as one-stop-shop, aggregating financing options from multiple large

financial institutions.

• Merchant bankers, Resurgent India Limited will be actively associated with the NFC.

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 Important Monthly Current Affairs Capsule – October 2022

• The NFC will also support large-scale projects to access funds via financial institutions and

educate members to enhance their credit ratings.

• NAREDCO members can submit their applications online for further processing with minimum

documentation.

• The Committee & NAREDCO have partnered with financial institutions to limit the processing and

in-principle approval time to 15-30 days for an application.

About NAREDCO:

• Founded: 1998

• Headquarters: New Delhi, Delhi, India

• Director General: Alok Gupta

• It was established as a self-regulatory body under the aegis of the Housing And Urban Affairs

Government of India.

About MoHUA:

• Cabinet Minister: Hardeep Singh Puri

• Minister of State: Kaushal Kishore

IRDAI forms a 24-member panel to develop insurance coverage for the rural population

• The Insurance Regulatory and Development Authority of India (IRDAI) has set up a 24-member

committee to develop and suggest an affordable and comprehensive cover for the rural

population.

• The committee will be headed by Thomas M Devasia, Member (non-life).

• The insurance regulator has also asked the committee to develop and suggest a constitution and

operation of a preferably, women-centric distribution channel to focus on reaching untapped/ rural

areas of Bima Vahak & recommend the regulatory framework.

• The committee will explore and recommend how to bring about synergies in the working and

operations of Bima Vahak, Bima Vistaar, and the digital platform – Bima Sugam.

• IRDAI announced that the latest developments in technology like artificial intelligence (AI) and

machine learning (ML) can be gainfully utilized by creating a digital platform to reach the last mile.

Northern Arc Capital Raises $50 Mn to Offer Customized Solutions To Businesses

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 Important Monthly Current Affairs Capsule – October 2022

• Northern Arc Capital, a non-banking finance company (NBFC), has raised $50 million (about ₹400

crores) through non-convertible debentures (NCDs) from the Dutch entrepreneurial development

bank FMO.

• The fintech lender will deploy half of its proceeds to serve MSMEs (micro, small and medium

enterprises) and women entrepreneurs.

Key Highlights:

• The long-term nature of the facility will help Northern Arc provide customized credit solutions to

these customers both directly and through partners

• As per Northern Arc, the use of proceeds will address three critical UN Sustainable Development

Goals (SDGs).

• These SDG are SDG8 (Decent Work and Economic Growth), SDG 5 (Gender Equality), and SDG

10 (Reduced Inequality).

• Northern Arc has raised funds from a slew of international investors including USDFC (United

States International Development Finance Corporation), ADB (Asian Development Bank),

Proparco, Calvert Impact Capital, and JICA.

About NCDs:

• NCDs are financial instruments that are not convertible into shares or equities.

• They are used for raising long-term funds.

• In comparison to convertible debentures, NCDs provide higher returns.

About Northern Arc Capital:

• Founded: 2008

• Headquarters: Chennai, Tamil Nadu

• MD and CEO: Ashish Mehrotra

• Northern Arc provides credit facilities to MSMEs, Indian households, financial institutions, and

emerging businesses.

India needs dedicated wing to release Green GDP estimates - RBI article

• RBI in its estimation of Green GDP for India article, India needs to set up a dedicated wing in the

Ministry of Environment, Forest and Climate Change (MoEF&CC) that will be responsible for

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 Important Monthly Current Affairs Capsule – October 2022

providing the time-series database required for estimation of Green GDP and releasing estimates

of Green GDP for India periodically regularly.

• Green GDP takes into account estimates for environmental degradation, depletion of natural

resources, and savings of resources and environment into the national income accounts.

• There is also a need for a user-friendly data dissemination platform on the lines of the

Organisation for Economic Co-operation and Development (OECD) and the Eurostat.

India GDP growth expected to decline to 5.7% in 2022: UNCTAD

• According to the forecast by the United Nations Conference on Trade and Development

(UNCTAD) Trade and Development Report 2022, India's economic growth is expected to decline

to 5.7% this year from 8.2% in 2021, citing higher financing costs and weaker public expenditures.

• India’s GDP will further decelerate to 4.7% growth in 2023.

• UNCTAD projected the global economy is projected to grow at 2.5% in 2022, decelerating further

to 2.2% in 2023.

About UNCTAD:

• Established: 30 December 1964

• Headquarters: Geneva, Switzerland

• Secretary General: Rebeca Grynspan

RBI placed Kerala-based private bank Dhanlaxmi bank under Monitoring

• The Reserve Bank of India (RBI) had placed Thrissur (Kerala)-based private bank Dhanlaxmi

Bank under tight monitoring with its financial position coming under greater public scrutiny.

• The Bank's capital-to-risk weighted assets/capital adequacy ratio (CRAR) fell to around 13% at

the end of March 2022, down from 14.5% a year earlier, prompting the RBI to assess the bank's

financial health.

• Earlier, Dhanlaxmi Bank's capital adequacy has fallen below the required levels and it has even

been placed under the RBI's prompt corrective action framework (PCA) to deal with serious

deteriorations in its financial position.

About PCA Framework:

• The PCA framework was introduced by the Reserve Bank of India (RBI) in 2002 as a structured

early intervention mechanism.

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 Important Monthly Current Affairs Capsule – October 2022

• The framework applies only to commercial banks (does not cover cooperative banks and Non-

Banking Financial Companies (NBFCs)).

Key Highlights:

The RBI has specified certain regulatory trigger points concerning 3 parameters -

1. capital-to-risk weighted assets/capital adequacy ratio (CRAR)

2. net non-performing assets (NPA)

3. return on assets (RoA).

About CRAR:

• It is the most important financial ratio used by investors and analysts.

• The ratio measures a bank's financial stability by measuring its available capital as a percentage

of its risk-weighted credit exposure.

• Banks are required to keep their CRAR at 9% or higher under Basel-III

About NPA:

• An NPA is a loan or advance for which the principal or interest payment remained overdue for 90

days.

About RoA:

• RoA is a type of profitability ratio that measures the returns generated by a company or financial

institution on its assets.

About Dhanlaxmi Bank Ltd:

• Founded: 14 November 1927

• Headquarters: Thrissur, Kerala, India

• MD & CEO: J. K. Shivan

IMPORTANT STATE NEWS

Odisha releases India’s first tribal community-based encyclopedia

• Odisha became the first state to publish an encyclopedia based on tribal communities.

• The Chief Minister of Odisha Shri Navin Patnaik released The “Encyclopedia of Tribes in Odisha”.

• Schedule Castes and Scheduled Tribes Research and Training Institute (SCSTRTI) and Odisha

State Tribal Museum published the encyclopedia.

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 Important Monthly Current Affairs Capsule – October 2022

Objective:

• To appraise the old and new, the past and the present cultural description of the tribal

community.

Encyclopedia of Tribes in Odisha: Constituents

• The encyclopedia consists of 5 edited volumes.

• It has 418 research articles on the tribals, including 13 particularly vulnerable groups.

• The encyclopedia is of 3800 papers contributed by its research personnel.

• The available articles are by several research scholars and eminent anthropologists on distinct

aspects of the tribes

• Tribes constitute 22.85% of the population in Odisha.

Note:

• Odisha is the third largest tribal populated state in India which has a total number of 62 tribal

communities living in the state.

About Odisha:

• Governor: Ganeshi Lal

• Chief minister: Naveen Patnaik

• Capital: Bhubaneswar

• Dance: Odissi, Ghumara

UP CM inaugurates intersection named after Lata Mangeshkar in Ayodhya

• Uttar Pradesh Chief Minister Shri Yogi Adityanath inaugurated an intersection Lata Mangeshkar

Chauraha named after legendary singer Lata Mangeshkar on the occasion of her 93rd birth

anniversary in Ayodhya, UP.

• The intersection at the banks of the Saryu river has been developed at an estimated cost of Rs 7.9

crore.

• A 40-ft-long and 12-meter-high veena weighing 14 tonnes has been installed at the intersection.

• The giant veena has been made by Padma Shri awardee Ram Sutar, who took two months to

make it.

About UP:

• Governor: Anandiben Patel

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 Important Monthly Current Affairs Capsule – October 2022

• Chief Minister: Yogi Adityanath

• Capital: Lucknow

• Dance: Khayal, Nautanki Naqal

Haryana develops the world’s largest safari, park to cover 10,000 acres

• The Government of Haryana will develop the world’s largest jungle 10,000-acre safari park which

will cover Gurugram and Nuh districts in the Aravalli range.

• The Jungle safari project of Haryana would be a joint project of the Ministry of Environment, Forest

and Climate Change and the Haryana government.

• An Aravalli Foundation will be set up to manage the project.

• It will not only boost tourism but also provide employment opportunities to residents.

• As per a survey conducted a few years ago, 180 species of birds, 15 species of mammals, 29

species of aquatic animals and reptiles, and 57 species of butterflies were found in the Aravalli

range.

About jungle safari park:

• The park would include a large herpetarium (a zoological exhibition space for reptiles and

amphibians), an aviary/bird park, four zones for big cats, a large area for herbivores, an area for

exotic animal birds, an underwater world, nature trails, visitors, tourism zones, botanical gardens,

biomes, equatorial, tropical, coastal, desert, etc.

Note:

• The Jungle safari park is 5 times larger in size than Sharjah Safari Park, United Arab Emirates

(UAE), and is home to the largest curated safari park outside Africa.

• Sharjah Safari opened in February 2022, covering an area of about 2,000 acres.

About Haryana:

• Governor: Bandaru Dattatreya

• Chief minister: Manohar Lal Khattar

• Capital: Chandigarh

• Festival: Gangore, Baisakhi, Teej, Lohri

• Dance: Dhamal, Khoria, Ghoomar

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 Important Monthly Current Affairs Capsule – October 2022

A&N becomes India's first state/UT to a chieve 100 percent coverage of precautionary dose

• Andaman Nicobar (A&N) Islands become India's first state/Union Territory (UT) to achieve 100%

coverage of precautionary dose.

• To date, more than 2,87,216 beneficiaries aged 18 have been vaccinated with a precautionary

dose.

• The rate of vaccination has seen a spike after the 15th of July 2022 when the Government

decided to provide precautionary doses free of cost under 'Azadi ka Amrit Mahotsav'.

• To intensify the campaign, healthcare workers reached households and numerous camps were

organized in urban and rural areas.

• The set target has been achieved before the set time limit of the 30th of September 2022.

• First, the Nicobar district has been fully vaccinated with a precautionary dose & afterward, the

North and Middle Andaman, and South Andaman districts were fully covered.

• Corbevax along with Covishield has been administered as a precautionary dose in the islands.

• Apart from this, the set target of youths under the 15-18 yrs & 12-14 yrs age category have also

been fully vaccinated.

About A&N:

• Lieutenant Governor: Admiral (Retd.) Devendra Kumar Joshi

• Capital: Port Blair

Center extends AFSPA in 9 districts of Nagaland till March 30, 2023

• According to a notification issued by the Ministry of Home Affairs (MHA), the Central government

has extended the Armed Forces (Special Powers) Act, 1958 in 9 districts of Nagaland including

Dimapur, Niuland, Chumoukedima, Mon, Kiphire, Noklak, Phek, Peren and Zunheboto from

October 1, 2022, to March 30, 2023.

• In addition, the GoI has also extended AFSPA in the areas falling within the jurisdiction of 16

police stations in 4 districts of Nagaland including 5 police stations in Kohima district; 6 police

stations in Mokokchung district; Yanglok police station in Longleng district; & 4 police stations in

Wokha district.

• Earlier, the Central Government in the exercise of the powers conferred by Section 3 of the Armed

Forces (Special Powers) Act, 1958 (28 of 1958) had declared 9 districts and 16 Police Stations in

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 Important Monthly Current Affairs Capsule – October 2022

4 other districts of Nagaland as 'disturbed area' for a period of 6 months with effect from April 1 to

September 30, 2022.

• The AFSPA empowers security forces to arrest a person without a warrant, enter or search

premises without a warrant, and perform other actions.

About Nagaland:

• Governor: Jagdish Mukhi

• Chief Minister: Neiphiu Rio

• Capital: Kohima

• Festival: Naga Mircha (King Chili) Festival, Mim Kut, Bushu Festival

• Dance: Chang Lo

Telangana govt enhances ST reservation from 6% to 10%

• The Telangana government has issued an order to increase the reservation for the Scheduled

Tribe (ST) communities from 6% to 10%.

• The order was issued by the Tribal Welfare Department.

• The enhanced reservation will be applicable in educational institutions as well as in government

jobs.

• In this context, a bill was passed by the Telangana Assembly in April 2017 and it was sent to the

Center for obtaining the President's assent.

• With this 4% hike, the total reservations in Telangana will go up to 54%.

About Telangana:

• Governor: Tamilisai Soundararajan

• Chief Minister: K. Chandrashekar Rao

• Capital: Hyderabad

• Festival: Bathukamma Festival, Bonalu, Ugadi

• Dance: Kuchipudi, Perini Thandavam

• River: Bhima River, Godavari, Krishna river

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 Important Monthly Current Affairs Capsule – October 2022

Kerala's Pullampara Becomes India's first fully digital literate panchayat

• The Pullampara Panchayat in Kerala's capital Thiruvananthapuram has become the first 'fully

digital literate panchayat' in India.

• Full digital literacy was achieved by Pullampara panchayat’s ‘DigiPullampara’ project, under which

some 3,300 residents between the 14-65 age group were given digital education.

About the ‘DigiPullampara’ project:

• The ‘Digi Pullampara project was launched on August 15, 2021, to impart digital education to the

most underprivileged sections of society in the panchayat.

• The project was run with the assistance of volunteers from 5 engineering colleges, Kudumbashree

units, and other self-help groups.

• The digital literacy program was carried out with the technical support of the Kerala Technical
University (KTU).

Digital Literacy & Internet Access:

• Kerala which was the first Indian state to attain 100% literacy also declared access to the internet

a basic human right in 2019.

• In 2019 the Kerala Government also announced the launch of KFON, which stands for 'Kerala

Fiber Optic Network,' a joint venture of the Kerala State Electricity Board and Kerala State IT

Infrastructure Ltd to provide an internet connection to every household in Kerala.

• In July 2022, K-FON received the Internet Service Provider (ISP) license from the Department of

Telecommunications.

• Over 30,000 government offices in Kerala will also be provided with free internet through the

KFON project.

About Kerala:

• Governor: Arif Mohammad Khan

• Chief Minister: Pinarayi Vijayan

• Capital: Thiruvananthapuram

• Dance: Kathakali, Mohiniattam, Chakyar koothu

• Festival: Onam, Thrissur Pooram Festival,

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 Important Monthly Current Affairs Capsule – October 2022

Union Minister Shri Amit Shah Announces ST Status for Pahari Community In Jammu And Kashmir

• Union Home Minister Shri Amit Shah has announced Scheduled Tribe (ST) status for the Pahari

community in Jammu and Kashmir at a rally in Rajouri, J&K.

• The reservation will be rolled out after the completion of administrative formalities.

• The abolition of Articles 370 and 35A in August 2019 paved the way for providing reservations to

deprived sections of Jammu and Kashmir.

• The Gujjars and Bakerwals communities were getting ST benefits since 1991.

Key Highlights:

• The Center formed the Justice Sharma Commission in March 2020, however, it seemed to upset

the Gujjars and Bakerwals.

• The Paharis were given a 4 percent quota in the OBC category from January 2020.

About Pahari Community:

• Pahari people is a term used for several heterogeneous communities settled in parts of Jammu

and Kashmir, Himachal Pradesh, and Pakistan-occupied Kashmir (PoK).

• Pahari is a term used to describe the various northern Indo-Aryan languages spoken by the

people, most of them found in the lower Himalayas.

About J&K:

• Lieutenant Governor: Manoj Sinha

• Capital: Srinagar, Jammu

• National Park: Kishtwar High Altitude NP, Hemis NP, Kazinag NP, Dachigam NP

• Wildlife Sanctuaries: Achabal Wildlife Sanctuary, Ramnagar Wildlife Sanctuary, Gulmarg Wildlife

Sanctuary

Rajasthan: Country's 1st Hi-tech anti-poaching system installed in Ranthambore Tiger Reserve

• The government of Rajasthan has installed a technology-based Wildlife Monitoring and Anti

Poaching System at Ranthambore Tiger Reserve (RTR) and other protected forests of

Rajasthan.

• It is claimed that this is the country’s first hi-tech surveillance system to stop the poaching of tigers

and other anti-wildlife activities.

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 Important Monthly Current Affairs Capsule – October 2022

• The State Information Technology and Communication Department have developed this advanced

anti-poaching monitoring system for RTR, which includes thermal and optical, PTZ, bullet, dome,

and drones.

About RTR:

• The RTR in Sawai Madhopur district is Rajasthan’s most famous protected forest with more than

60 tigers.

• Apart from this, Rajasthan has other protected forests like Sariska Tiger Reserve Alwar,

Mukundara Hills Tiger Reserve Kota, Jawai Dam Leopard Conservation Reserve Pali, and

Jhalana Leopard Conservation Reserve Jaipur.

• To protect wildlife in these forests, high-end thermal and optical cameras based on a hybrid model

for protected areas of forests are being used.

• This is an integrated surveillance system equipped with network and communication equipment,

solar power systems, drones, etc.

• This is the first 24-hour hi-tech surveillance and poaching system established by any state in the

country.

• Its control command center has been established in Ramsinghpura, Shilpgram, and Sawai

Madhopur.

• It helps with 24-hour surveillance with cameras in forest areas, monitoring the movements of tigers

or other identified wildlife species.

About Rajasthan:

• Governor: Kalraj Mishra

• Chief Minister: Ashok Gehlot

• Capital: Jaipur

• Dance: Ghumar, Jhuma

• National Park: Keoladeo NP, Ranthambore NP, Mukundara NP

• Wildlife Sanctuaries: Bandh Baratha WLS, Jaisamand WLS, Jawahar Sagar WLS

India’s First Green Hydrogen Fueling Station to Be Commissioned In Leh By May 2023

• India's first green hydrogen fuelling station, being set up at Leh in the Union Territory of Ladakh, is

all set to be commissioned before May 2023.

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 Important Monthly Current Affairs Capsule – October 2022

• The first-of-its-kind project is being set up by state-run NTPC.

• The power generator had awarded the contract for the project to Amara Raja Power Systems, part

of the $1.3 billion Amara Raja Group, in June.

About the Project:

• Under the project, green hydrogen will be produced by splitting water into hydrogen and oxygen

using electrolysis powered by renewable energy.

• The project is being set up at a height of 3,600 meters above sea level with a temperature

variation of minus 14 degrees to plus 20 degrees Celsius.

• The pilot project will produce 80 Kilograms per day of 99.97 percent pure hydrogen that will be

compressed, stored, and dispensed.

• NTPC plans to ply 5 hydrogen fuel cell buses in the region.

• While the Leh project will use green hydrogen for mobility, in the longer run, Amara Raja also

plans to bid for green hydrogen projects for industrial applications.

• NTPC's wholly-owned subsidiary NTPC Renewable Energy Ltd (NTPC REL) floated the tender

for the project in July 2021.

• NTPC REL is also setting up a 1.25 Mw solar power plant to make the Hydrogen Fuelling

Station completely green.

Finland ties up with Kerala Government to implement 'Little KITEs' model

• Finland has announced its partnership with Kerala to implement the Little KITEs program by

Kerala Education Department in their country’s schools.

• As per the collaboration, the Kerala Infrastructure and Technology for Education (KITE) will

provide technical assistance for this and a Special Working Group will be constituted for this

program.

• The decision was taken in the meeting held at the Capital of Finland, Helsinki, between Finland

Education Department’s team and a high-level delegation from Kerala comprising V P Joy, state

chief secretary, V K Ramachandran, vice chairman, State Planning Board, and A P M Mohammed

Hanish, principal secretary, general education department.

Key Highlights:

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 Important Monthly Current Affairs Capsule – October 2022

• The Little KITES IT Clubs is India’s largest ICT network of students in over 2,000 schools, totaling

1.70 lakh student members.

• KITE is equipped to provide consultancy support in free and open-source software (FOSS) based

digital education activities to other states and countries.

• Through the Little KITEs units, 9,000 robotic kits would be deployed to schools in 2022.

• The Little KITEs program was launched by Chief Minister Shri Pinarayi Vijayan in 2018.

About KITE:

• Headquarters: Thiruvananthapuram, Kerala, India

• Chairman: A.P.M Mohammed Hanish

• CEO: K. Anvar Sadath

• KITE was the first SPV (Special Purpose Vehicle) company to get funded by KIIFB (Kerala

Infrastructure and Investment Fund Board).

About Kerala:

• Governor: Arif Mohammad Khan

• Chief minister: Pinarayi Vijayan

• Capital: Thiruvananthapuram

About Finland:

• President: Sauli Niinistö

• Prime Minister: Sanna Marin

• Capital: Helsinki

• Currency: Euro

Maharashtra digitizes property registrations & launches ‘Self Help’ portal for e -registrations

• The government of Maharashtra has started the e-registration of properties to be sold by realty

developers in a bid to digitize the process which will also involve the usage of blockchain

technology.

• With this, Maharashtra has become the first state to enable e-registrations of properties.

• Initially, the facility will be enabled for e-registration of the agreement of the first sale, and resale

transactions will not be part of it.

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• Now homebuyers of Real Estate Regulatory Authority (RERA) approved projects have the option

to register their sales agreements online, sitting in the developer's office.

• Currently, over 400 developers in Maharashtra have opted for the e-registration system.

• Maharashtra Govt also launched the ‘Self Help’ portal for e-registration

• Through this portal, developers and homebuyers can also upload their template for the

agreement, which once approved could be used by the developers for several such transactions.

About Blockchain Technology:

• Blockchain Technology is a system of recording information in a way that makes it difficult or

impossible to change, hack, or cheat the system.

About Maharashtra:

• Governor: Bhagat Singh Koshyari

• Chief minister: Eknath Shinde

• Capital: Mumbai

J&K Tourism department inaugurates 1st ever Bird Festival at Pahalgam in South Kashmir

• In the Union Territory of Jammu and Kashmir (J&K), a first-of-its-kind Bird Festival 2022 was

inaugurated at Pahalgam in south Kashmir's Anantnag district.

• The Bird Festival is being organized by the J & K Tourism Department in collaboration with

Sanctuary Nature Foundation.

• Secretary of the J&K Tourism Department, Sarmad Hafeez inaugurated the festival.

• The inaugural ceremony of the 6-day Bird Festival was attended by a large number of nature

enthusiasts and bird lovers from across the country as well as Jammu and Kashmir.

• The Bird Festival will be beneficial for tourism and the local economy of Jammy and Kashmir

About J&K:

• Lieutenant Governor: Manoj Sinha

• Capital: Srinagar, Jammu

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 Important Monthly Current Affairs Capsule – October 2022

Haryana govt signs MoU with Dubai for economic cooperation

• The Haryana government has signed a Memorandum of Understanding (MoU) with the

government of Dubai, the governing authority of the Emirate of Dubai, for cooperation in various

economic activities.

• These activities include investment promotion and land development, including but not limited to

real estate development, industrial parks, IT parks, multi-purpose towers, mixed-use townships,

innovation centers, and projects related to logistics in Haryana.

About the MoU:

• Under the terms of the MoU, the Government of Dubai will identify a suitable entity to assist with

identifying the potential areas of collaboration assess the viability of projects and finalization of

definitive agreements, and support the state government in identifying potential investors based in

UAE.

• The MoU is expected to boost investment in Haryana and strengthen the bonds of economic and

cultural ties between Dubai and Haryana.

• Haryana with strategic locational advantage, robust industrial infrastructure, strong connectivity,

robust policy frameworks, and a large pool of skilled manpower has emerged as one of India's

most industrialized states.

• With different initiatives such as sector-focused investor-friendly policies, GIS land bank, investor

facilitation cell, single roof clearance mechanism, time-bound delivery of services, grievance

redressal system, etc.

Recent News:

• Recently, the government of Haryana delegation led by Manohar Lal Khattar, visited the United

Arab Emirates (UAE) to promote the State as a leading investment destination and for marketing

key projects of Haryana.

About Haryana:

• Governor: Bandaru Dattatreya

• Chief minister: Manohar Lal Khattar

• Capital: Chandigarh

• Wildlife Sanctuaries: Chhilchhila WLS, Bir Shikargah WLS, Nahar WLS

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 Important Monthly Current Affairs Capsule – October 2022

• National Park: Kalesar NP, Sultanpur NP

Karnataka Cabinet approves proposal to hike SC, ST reservation

• The Karnataka Cabinet has given its approval to increase the Scheduled Castes and Tribes

(SC/STs) quota in Karnataka.

• The decision has been taken by the government based on the report of Justice H N Nagamohan

Das Commission, which has recommended hiking the quota for SCs from 15% to 17% and for

STs from 3% to 7%.

• The State Government in principle agreed to increase the existing quota by 2% for SCs and by 4%

for STs in Karnataka.

• Chief Minister Shri Basavaraj Bommai announced this effect after chairing an all-party meeting

that was attended by Congress and JD(S) leader

• After this hike, the total reservation in the state will be 56%.

• Previously, Karnataka had 50% reservation, of which 32% was for OBCs (other backward

classes), 15% for SCs, and 3% for STs

• The State Government would seek more than 50% reservation under Scheduled 9 of the

Constitution through a constitutional amendment, to get immunity from a legal challenge, on the

lines of the Tamil Nadu Government, which has increased reservation up to 69%.

About Karnataka:

• Governor: Thawar Chand Gehlot

• Chief minister: Basavaraj Bommai

• Capital: Bengaluru

• National Park: Nagarhole National Park, Bandipur NP, Kudremukh NP

• Wildlife Sanctuaries: Dandeli Wildlife Sanctuary, Bhadra Wildlife Sanctuary, Brahmagiri wildlife

sanctuary

J&K became the first to establish 75 Amrit Sarovars in each district Under Mission Amrit Sarovar

• Jammu and Kashmir (J&K) have become the first Union Territory in the country to establish 75

Amrit Sarovars in each district as per the aspirations of Prime Minister Shri Narendra Modi.

• This was informed by Chief Secretary Dr. Arun Kumar Mehta in a review meeting of the Rural

Development Department at Srinagar.

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 Important Monthly Current Affairs Capsule – October 2022

• J&K had started implementing the scheme in a mission mode & UT level committee under the

chairmanship of the Chief Secretary with the participation of departments like Forest, Culture,

Revenue, and Jal Shakti was constituted for apex-level monitoring and implementation of the

scheme.

Key Highlights:

• According to the guidelines of the mission, J&K had to complete 300 Amrit Sarovars before

August 15, 2022, and 1500 Amrit Sarovars by August 15, 2023.

• However, UT completed 1490 Amrit Sarovar on 15th August 2022, and at present, UT has

completed work on 1953 Amrit Sarovar.

• The Finance Department has released Rs 50 crore for the rejuvenation and construction of these

Amrit Sarovar.

About Mission Amrit Sarovar:

• The Mission Amrit Sarovar was launched by Prime Minister Shri Narendra Modi on National

Panchayati Raj Day on April 24, 2022, at Palli Gram Panchayat in Jammu's Samba district.

• At the national level, the UT figures at number 2 in terms of completion of Amrit Sarovar featuring

just after the much bigger State of Uttar Pradesh.

About J&K:

• Lieutenant Governor: Manoj Sinha

• Capital: Srinagar, Jammu

• National Park: Kishtwar High Altitude National Park, Kaziranga National Park, Dachigam National

Park

• Wildlife Sanctuaries: Ramnagar Wildlife Sanctuary, Gulmarg Wildlife Sanctuary

Goa to host 37th National Games in October 2023 - IOA

• The Indian Olympic Association (IOA) confirmed that the Goa government has been selected as

the host for the 37th edition of the National Games in October 2023.

• The Goa delegation may get the IOA flag at the Closing Ceremony of the 36th National Games on

12th October 2022 in Surat, Gujarat.

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• Goa had signed the contract to host the National Games in 2011 but, technically, its turn was only

after the 35th edition, which was hosted by Kerala in January 2015.

• Since then, the state sought multiple postponements after finalizing 2016 as the year to host the

Games.

• The 37th National Games will be held from 23rd September to 8th October 2022 in Hangzhou,

China.

About Goa:

• Governor: S. Sreedharan Pillai

• Chief Minister: Pramod Sawant

• Capital: Panaji

• Airport: Dabolim Airport

Jharkhand records India’s highest percentage of child marriage

• According to the latest demographic sample survey by the union home ministry, Jharkhand has

the highest percentage of underage girls getting married.

• The survey was conducted in 2020 by the office of the Registrar General and Census

Commissioner and its report was published in September 2022.

Key Highlights:

• As per the survey, the percentage of girls getting married before turning 18 is 5.8% in

Jharkhand.

• The percentage of females who got married before reaching 18 years is 1.9 at the national

level.

• At the state level, it varies from 0.0 in Kerala to 5.8 in Jharkhand.

• In Jharkhand, child marriages accounted for 7.3% of marriages in rural areas and 3% in

urban areas

• Jharkhand and West Bengal are the only two states in the country where more than half of

the women are married before attaining the age of 21 years.

• 54.9% of girls are married in West Bengal before attaining the age of 21 years.

• 54.6% of girls are married in Jharkhand before attaining the age of 21 years.

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 Important Monthly Current Affairs Capsule – October 2022

• The Sample Registration System (SRS) Statistical Report contains estimates of various

demographic, fertility, and mortality indicators based on the data collected through one of the

largest demographic surveys in the world covering about 8.4 million sample population.

Chhattisgarh CM Shri Bhupesh Baghel inaugurates Chhattisgarh Olympics

• Chief minister Shri Bhupesh Baghel inaugurated the Chhattisgarh Olympics at Balbir Singh Juneja

Indoor Stadium in Raipur to promote sports in Chhattisgarh.

Aim:

• To make the younger generation aware of our culture and tradition

About Chhattisgarh Olympics:

• The ‘Chhattisgarhiya Olympics’ will be organized at six levels and it will continue till January 6,

2023.

• A total of 14 types of traditional sports have been included in the Chhattisgarh Olympics 2022-23.

• Traditional sports like Gilli-danda, pitthul, sankhali, langdi-race, kabaddi, kho-kho, and kancha

have also been included.

• The games will be played at the development block/urban cluster level, di strict level, divisional

level, and state level.

• The main purpose of the event is to generate the feeling of regionalism, especially among young

voters.

• It is the first-of-its-kind tournament where the focus is on local games.

About Chhattisgarh:

• Governor: Anusuiya Uikey

• Chief Minister: Bhupesh Baghel

• Capital: Raipur

• Festivals: Bastar Dussehra, Bhoramdeo Mahotsav Festival

• Dance: Raut Nacha

• Wildlife Sanctuaries: Achanakmar Wildlife Sanctuary, Narsinghgarh WLS, Semarsot WLS

• National Park: Guru Ghasi Das (Sanjay) National Park, Kanger Valley National Park

Tamil Nadu CM Shri Stalin inaugurates ‘first of its kind liquefied compressed natural gas station in

Ranipet

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 Important Monthly Current Affairs Capsule – October 2022

• Chief Minister of Tamil Nadu Shri M.K. Stalin inaugurated AG&P Pratham’s liquefied compressed

natural gas (LCNG) station near Manthangal village at Walajah Taluk in Ranipet district, Tamil

Nadu.

• He opened the station via videoconference, in the presence of Industries Minister Mr. Thangam

Thennarasu, Chief Secretary Mr. V. Irai Anbu, and company officials.

• The company will develop a 300-km pipeline network in the Vellore-Ranipet area by the end of

FY23.

• The new station will benefit over 30,000 households and 325 industrial and commercial

establishments.

• The unit can handle 100 tonnes of gas per day and will serve customers in Vellore, Ranipet, and

Tirupattur.

• Currently, the company supplies around 20 tonnes of gas in these districts.

About Tamil Nadu:

• Governor: R. N. Ravi

• Chief Minister: M. K. Stalin

• Capital: Chennai

• Dance: Bharatnatyam, Karagattam, Kumi, Kolattam, Kavadi

• National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of

Mannar Marine National Park

• Wildlife Sanctuaries: Kalakad Wildlife sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird

Sanctuary

• Tiger Reserve: Anamalai Tiger Reserve

• Biosphere Reserve: Agasthyamalai Biosphere Reserve

Indore to become India’s first ‘Smart City’ with ‘Smart Addresses’

• Indore, Madhya Pradesh (MP) will become India’s first ‘Smart City’ with ‘Smart Addresses’ after

implementing a fully digital addressing system.

• The smart city advanced significantly when a memorandum of understanding (MoU) was signed

with the firm Pataa Navigations.

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• The MoU is signed by Pataa Navigations Co-Founder Rajat Jain and Indore Smart City CEO

Rishav Gupta (IAS).

• The MoU stipulates that the Pataa app will be used by all government agencies and emergency

services, such as police, fire, and ambulance.

Key Highlights:

• Pataa is a brief and distinctive code that will help the user to find the specific geolocated location.

• Pataa Navigations and Indian Space Research Organisation (ISRO) collaborated to build a

powerful digital addressing system to reduce losses and simplify the Indian addressing system.

• To provide access to digital addressing systems, Pataa Navigation will integrate with government

platforms such as those of the departments of electricity, agriculture, excise, protection of women

and children, and education.

About Pataa App:

• The Pataa app is a free service, that will help delivery providers find a specific geolocated

location.

• Through this app, users can upload images of their homes, landmarks, etc., along with their full -

text addresses.

• For necessary services such as Electronic Know Your Customer (E-KYC) and banking

geolocation, the Pataa application will be used.

• Additionally, the user can record voice instructions, which eliminates the need to repeat the

address over the phone and makes it easier for the guest to find the location.

• In the future, the user will be able to share a shortcode rather than sharing their long and full

address with everyone.

Delhi govt launches app to keep track of all ongoing & upcoming projects

• The Delhi government has launched an app called ‘Delhi monitoring to keep track of all ongoing

and upcoming projects across d epartments.

• Chief Secretary of the Delhi UT government Mr. Naresh Kumar will be in charge of monitoring the

projects.

About ‘Delhi monitoring:

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 Important Monthly Current Affairs Capsule – October 2022

• The Public Works Department (PWD), which undertakes major road, flyover, and infrastructure

projects, has updated the data about the projects on the PWD portal to all the chief engineers of

the road, maintenance, projects, and flyover divisions.

• The app has been launched for monitoring projects/inspections/tasks used by ministers and senior

officers of all departments of the Delhi government.

• Further, the PWD has also directed officials to appoint a nodal officer at the zonal office level to

monitor it and all issues related to the PWD web portal.

• The PWD department manages around 1,400 km of major roads and the busiest flyovers including

Ring Road and Outer Ring Road in Delhi.

About Delhi:

• Lt. Governor: Vinai Kumar Saxena

• Chief Minister: Arvind Kejriwal

• Capital: New Delhi

• Wildlife Sanctuaries: Asola Bhatti Wildlife Sanctuary, National Chambal Sanctuary

India’s first sanctuary for endangered Slender Loris to be set up in Tamil Nadu

• The Tamil Nadu government has notified the Kadavur Slender Loris Sanctuary, the first Indian

sanctuary for the endangered Slender Loris in Karur and Dindigul districts.

About Slender Loris:

• Slender Lorises are native to India and Sri Lanka.

• Their genus comprises two species, the red slender loris found in Sri Lanka and the gray slender

loris which is found both in India and in Sri Lanka.

• According to the International Union for the Conservation of Nature (IUCN), Slender Loris is listed

as an endangered species.

• The survival of the species depends on its habitat improvement, conservation efforts, and

mitigation of threats.

• They have a lifespan of approximately 15 years and generally feed on insects, reptiles, plant

shoots, and fruit.

• These mammals are also protected under Schedule I of the Wild Life (Protection) Act, of 1972.

About Kadavur Slender Loris Sanctuary:

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 Important Monthly Current Affairs Capsule – October 2022

• A total of 11,806 hectares in the forest areas of the Karur (5,700 ha) and Dindigul (6,106 ha)

districts will be merged to form the Kadavur Slender Loris Sanctuary.

• The sanctuary is to cover Vedasandur, Dindigul East, and Natham taluks in the Dindigul district

and Kadavur taluk in the Karur district.

• The government has already notified India’s first Dugong Conservation Reserve in Palk Bay,

Kazhuveli Birds Sanctuary in Villupuram, Agasthiarmalai Elephants Reserve, and Nanjarayan

Tank Birds Sanctuary, Tiruppur.

About Tamil Nadu:

• Governor: R. N. Ravi

• Chief minister: M. K. Stalin

• Capital: Chennai

• Dance: Bharatnatyam, Karakattam

• Wildlife Sanctuaries: Mudumalai Wildlife Sanctuary, Vedanthangal Bird Sanctuary

• Tiger Reserve: Kalakkad Mundanthurai Tiger Reserve, Annamalai Tiger Reserve

• National Park: Arignar Anna Zoological Park, Mukurthi National Park, Amirthi Zoological Park

Center grants three Bulk Drug Parks to Himachal Pradesh, Gujarat, and Andhra Pradesh

• The Department of Pharmaceuticals has conveyed ‘in-principle’ approval to the proposals of the

three States Viz, Himachal Pradesh, Gujarat, and Andhra Pradesh under the Scheme for

“Promotion of Bulk Drug Parks”, a key initiative to support Bulk Drugs manufacturing in India.

Aim:

• To bring down the cost of manufacturing bulk drugs by the creation of world-class common

infrastructure facilities supported by the Central Government.

• The financial assistance to the proposed Bulk Drug Park in Gujarat and Andhra Pradesh would be

70% of the project cost of common infrastructure facilities.

• In the case of Himachal Pradesh, being the Hilly States, financial assistance would be 90% of the

project cost.

• Maximum assistance under the scheme for one Bulk Drug Park would be limited to Rs. 1000

crores.

About the Promotion of Bulk Drug Parks Scheme:

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 Important Monthly Current Affairs Capsule – October 2022

• The Scheme, with a financial outlay of Rs. 3,000 crores notified in 2020, provides financial

assistance to 3 States for establishing Bulk Drug Parks.

• Under the scheme, proposals were received from 13 States.

• Under this scheme, a total of 51 projects have been approved, out of which, 14 projects have

already been commissioned and started manufacturing the drugs.

• The Department was guided by an Advisory Committee under the CEO, NITI Aayog in the

appraisal of the proposals, based on quantitative as well as qualitative methodology.

• The scheme will also help the industry meet the standards of the environment at a reduced cost

through innovative methods of the common waste management system.

Key Highlights:

• The Indian Pharmaceutical industry is the 3rd largest in the world by volume.

• India exported pharmaceuticals worth Rs. 1,75,040 crore in the financial year 2021-22, including

Bulk Drugs/ Drug Intermediates.

• Also, India is one of the major producers of Active Pharma Ingredients (API) or bulk drugs in the

world.

• India exported Bulk Drugs/ Drug Intermediates worth Rs. 33,320 crores in the financial year 2021-

22.

• As per the proposals submitted by these States, the Bulk Drugs will be established in 1402.44

acres of land at Tehsil Haroli, District Una, Himachal Pradesh, 2015.02 acres of land at Tehsil

Jambusar, District Bharuch, Gujarat, and 2000.45 acres of land at K.P. Puram &Kodhada of

Thondagi Mandal of East Godavari District, AP.

About Ministry of Chemicals and Fertilizers:

• Cabinet Minister: Mansukh L. Mandaviya

• Minister of State: Bhagwanth Khuba

Leh in Ladakh all set to host 1st-ever Mountain Bicycle World Cup

• Ladakh Police in collaboration with the Administration of Union Territory of Ladakh, and the

Cycling Association of India organized the first-ever Mountain Bicycle (MTB) World Cup – the ‘UCI

MTB Eliminator World Cup in Leh, Ladak, India.

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• The event will be flagged off by the Ladakh MP Jamyang Tsering Namgyal, Leh CEC Tashi

Gyaltson, and Ladakh ADGP SS Khandare.

• The UCI MTB Eliminator World Cup is going to be a short track race with Cross Country

Eliminator, XCE, the format of 500 meters with natural and artificial obstacles.

• A total of 20 international, 55 national, and local cyclists are going to participate in the upcoming

event.

• Since the UCI MTB Eliminator World Cup is going to be held for the first time in India, all cyclists

are excited about the event.

• The winner of the Men Elite Category -Cross-Country Eliminator- is Felix Klausmann (Germany) &

Winner of the Men Elite Category -Cross-Country Eliminator is Marion Fromberger (Germany).

Odisha CM Launches SAACAR Portal for quick justice to SC/ST victims of atrocities

• Odisha Chief Minister Shri Naveen Patnaik launched a web portal ‘Single Window Application

Atrocity Compensation Assistance and Relief’ (SAACAR ) for end-to-end processing of atrocity

cases registered in various police stations.

• The departments of Home, ST & SC Development, and Revenue & Disaster Management have

developed the portal.

About SAACAR:

• The portal will facilitate faster investigation and payment of compensation in the first phase to

the victims of SC-ST atrocity cases within 21 days.

• It will be able to avoid the delay caused by the existing manual system of inquiry and payment

of compensation to the victims.

• It will increase efficiency in the delivery mechanism of the Government of Odisha through the

5T initiative.

• Meanwhile, the CM also released a book titled ‘Pandemic Disruptions and Odisha’s Lessons in

Governance’, written by BJD MP Amar Patnaik.

• The book contains a collection of essays on issues that emerged in India during the pandemic

years of 2020-21 and 2021-2022.

About Odisha:

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 Important Monthly Current Affairs Capsule – October 2022

• Governor: Ganeshi La

• Chief minister: Naveen Patnaik

• Capital: Bhubaneswar

• National Park: Simlipal National Park, Bhitarkanika National Park

• Wildlife Sanctuaries: Tikarpada Wildlife Sanctuary, Chilika Wildlife Sanctuary, Sunabeda

Wildlife Sanctuary, Kotagarh Wildlife Sanctuary

• Dance: Ghumara, Ranapa Dance, Jodi Sankha

• Festival: Rath Yatra

Andhra Pradesh top performer in agri and allied Grass Value Output (GVO)

• Andhra Pradesh (AP), with ₹2,03,638.5 crore combined gross value output (GVO) in the

agriculture, forestry, and fishing sectors, has registered more than 90% growth in 9 years to 2019-

20, the highest among all the states, while Kerala is the only state to have recorded negative

growth of over 10%.

• According to the report on the value of output from agriculture, forestry, and fishing sectors

released recently by the National Statistical Office (NSO) under the Ministry of Statistics and

Programme Implementation, Uttar Pradesh, a leading producer of paddy, wheat, and sugarcane,

the GVO in agri and allied activities recorded at ₹3,05,615.24 crore in 2019-20, up 24.8% from

₹2,44,884.44 crore in 2011-12

• The GVO was higher than the growth at the national level in as many as 10 States, including

Tripura and Mizoram, and two union territories Lakshadweep and Daman and Diu.

• The all-India GVO in agri and allied sectors was 30.6% up at ₹24,92,052.67 crore in 2019-20

against ₹19,08,087.53 crore in 2011-12.

• Kerala, Delhi, and Dadra & Nagar Haveli were the only ones where the output value declined in

the past nine years under the review period.

• The GVO in Kerala, declined almost every year from ₹55,584.37 crores in 2011-12 to ₹49,785.83

crores in 2019-20.

• Madhya Pradesh was the top State in recording the highest 56.7% growth at ₹1,31,781.42 crore in

only crops (agri and commercial) in 2019-20 against ₹84,077.42 crores in 2011-12.

India’s only business museum set to undergo a makeover will soon go digital

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 Important Monthly Current Affairs Capsule – October 2022

• The Indian Business Museum, housed inside the Indian Institute of Management Kozhikode

(IIMK) campus and the only one of its kind, will soon offer visitors a slice of history digitally.

• The museum intends to collect, consolidate, and conserve the rich business history of India.

About Indian Business Museum:

• Conceptualized in 2010 and officially opened in 2013, the museum traces the subcontinent’s

business history from the time of the Indus Valley Civilisation.

• The museum, spanning over 23,000 square feet (2,100 m 2 ), also has a Malabar Pavilion

sponsored by the Malabar Chamber of Commerce

• The museum also has exclusive pavilions set up by the Tatas, Godrej, India Post, the Indian Navy,

and SBI, among others, showcasing the business history of the respective organizations.

• A major part of the museum is the RBI gallery, which mirrors the evolution of both the Reserve

Bank of India as well as the modern financial system.

• The makeover is expected to cost Rs 15-20 crore.

Note:

• Director of IIMK: Debashis Chatterjee

Centre approves New Coastal Zone Management Plan in Karnataka

• Prime Minister Shri Narendra Modi laid the foundation for 8 projects worth Rs 3,800 crore at

Goldfinch city and approved the New Coastal Zone Management Plan (CZMP) for Karnataka.

• This Plan would give a boost to the economy and tourism in the coastal region of Karnataka.

Key Highlights:

• As per the 2019 CRZ notification, the new Coastal Zone Management Plan has been approved by

the Ministry of Forest, Environment, and Climate Change.

• Karnataka is the first State in southern India and only the second state in the country to get the

Plan prepared and approved as per the new CRZ notification.

Project worth:

• ₹280 crores for mechanization of Berth No. 14 for handling containers and other cargo undertaken

by the New Mangalore Port Authority (NMPA).

• NMPA is a 100% solar-powered port, which has won several awards for zero emission.

• He laid the foundation of 5 projects worth around ₹ 1,000 crores undertaken by the port.

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 Important Monthly Current Affairs Capsule – October 2022

• He will also inaugurate two projects undertaken by Mangalore Refinery and Petrochemicals

Limited viz. BS VI Upgradation Project and Sea Water Desalination Plant, worth ₹1,830 crores

and ₹680 crores respectively.

Other Highlights:

• Under the Sagar Mala project, 18 projects have been completed and 14 schemes worth Rs 950

crore are approved by the Union Ministry of Inland Transport and Ports.

• The Government has approved the development of Maajali Port in Karwar at Rs 350 crore.

• Under the Pradhan Mantri Matsya Sampada scheme, the Central Government has approved to

supply of 100 high-speed boats to help deep sea fishing.

• The government has implemented the Vidyanidhi scheme for the children of fishermen and it will

benefit 2 lakh children.

• 5000 houses are constructed at Rs 65 crore.

• The Inland and Fishery Institute will be established in Karwar.

About Karnataka:

• Governor: Thawar Chand Gehlot

• Chief minister: Basavaraj Bommai

• Capital: Bengaluru

• National Park: Bandipur NP, Kudremukh NP, Bannerghata NPRajiv Gandhi NP

• Wildlife Sanctuaries: B R Hills Wildlife Sanctuary, Cauvery Wildlife Sanctuary, Gudavi Bird

Sanctuary, Bhadra Wildlife Sanctuary

• Tiger Reserve: Nagarahole Tiger Reserve, Bhadra Tiger Reserve

• Festival: Hampi, Mahamastakabhisheka (Shravanabelagola)

• Dance: Yakshagana, Dollu Kunitha, Bolak-aat (Bolak Dance)

Tamil Nadu is the only State to achieve the Jal Jeevan Mission target for 2022 Q1 and Q2

• According to official data, Tamil Nadu (TN) has emerged as the only State which has achieved the

target for 2022 Q1 and Q2 for Jal Jeevan Mission (JJM), with 69.57 lakh households provided with

tap connections to date.

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• Union Jal Shakti Minister Shri Gajendra Singh Shekhawat visited Chennai and reviewed the

progress of work on the Jal Jeevan Mission for assured potable tap water supply to every rural

household by 2024.

Key Highlights:

• To date, out of the 1.25 crore households in Tamil Nadu, 69.57 lakh households have received tap

connections.

• The percentage of households (55.63%) with tap connections in Tamil Nadu is higher than the

national average of 53.96%.

• The target set by the Union government for Q1 and Q2 for 2022 was 12.1 lakh tap connections in

Tamil Nadu.

• However, the TN has provided 16.25 lakh tap connections, registering 134% of the target.

• The target set for 2022-2023 in the State is 28.48 lakh tap connections.

• The implementation of the work on tap connections for 14.44 lakh households is underway in TN.

• Of the 12,525 villages in TN, the State has reported 2,663 villages as ‘Har Ghar Jal’ villages, with

tap water connections in 100% of households.

Expenditure:

• Of the allocation of ₹3,691 crores from the Union government for the State in 2021-2022, ₹614

crores have been released.

• The expenditure for the State government for providing the tap connections was ₹496 crore in

2021-2022 and the expenditure for the Union government was ₹457 crore in the same period.

• The State government has reported an expenditure of ₹173 crores during 2022-2023.

• The Union government has reported an expenditure of ₹132 crores during the same period.

About JJM:

• The Jal Jeevan Mission was announced by Prime Minister Shri Narendra Modi on August 15,

2019.

• Under this, every rural household will have a functional tap connection by 2024, with assured

water supply in adequate quantity of prescribed quality with adequate pressure on a regular and

long time basis.

About Tamil Nadu:

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• Governor: R. N. Ravi

• Chief minister: M. K. Stalin

• Capital: Chennai

• Dance: Bharatnatyam, Karakattam

• National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of

Mannar Marine National Park

• Wildlife Sanctuaries: Kalakad Wildlife sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird

Sanctuary

• Tiger Reserve: Anamalai Tiger Reserve

• Biosphere Reserve: Agasthyamalai Biosphere Reserve

Coal India to set up 1,190 MW solar power plant in Rajasthan

• The Coal India Limited (CIL) signed a Memorandum of Understanding (MoU) with Rajasthan

Vidyut Utpadan Nigam Limited (RVUNL) for setting up an 1190 MW solar power plant in the

Bikaner district of Rajasthan.

• RVNUL Chairman & Managing Director (CMD) R K Sharma and Technical Director of Coal India

Limited, V Reddy signed the Memorandum of Understanding (MoU) in the presence of Union

Minister of Coal Shri Pralhad Joshi and Chief Minister of Rajasthan Shri Ashok Gehlot.

• The plant will be installed in a 2,000-MW solar park being developed by RVUNL in Poogal,

Bikaner.

Key Highlights:

• The Rajasthan government has allotted 4,846 hectares of land to the solar park.

• The plant will be installed in a 2,000-MW solar park being developed by RVUNL in Poogal,

Bikaner.

• Out of this, an 1190 MW capacity solar project will be set up by Coal India, while an 810 MW

capacity solar project will be set up by RVUNL.

Additional Info:

• Rajasthan becomes the first in the country by setting up 14,825 MW solar power projects.

About CIL:

• Founded: 1975

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• Headquarters: Kolkata, West Bengal, India

• Chairman & MD: Pramod Agrawal

• CIL is an Indian central public sector undertaking under the ownership of the Ministry of Coal,

Government of India.

• It is the largest government-owned-coal-producer in the world.

About RVUNL:

• Founded: 2000

• Headquarters: Jaipur, Rajasthan, India

• Chairman & MD: Shri R K Sharma

• The RVUNL is the electricity generation company of the Government of Rajasthan state in India

About Rajasthan:

• Governor: Kalraj Mishra

• Chief minister: Ashok Gehlot

• Capital: Jaipur

• National Park: Keoladeo National Park, Ranthambore National Park

• Wildlife Sanctuaries: Desert WL Sanctuary, Jaisamand WL Sanctuary, Ramsagar WL Sanctuary

Ethiopian delegation Visits Andhra Pradesh to implement Rythu Bharosa Kendra concept

• An Ethiopian delegation led by the Agricultural Minister Dr. Meles Mekonen Yimer is in Andhra

Pradesh (AP) to study the first-of-its-kind Rythu Bharosa Kendras (RBKs), which have been set up

by the Chief Minister Shri Y S Jagan Mohan Reddy government.

• Before calling on the CM, the Ethiopian delegation visited the integrated call center at

Gannavaram and RBK-2 at Gandigunta village of Yuyyuru Mandal in Krishna district.

About RBKs:

• RBKs are unique seeds-to-sales, single-window service centers for farmers that have been set up

across AP.

• They are a one-stop solution to all farmers’ needs and grievances.

• RBKs sell pre-tested quality seeds, certified fertilizers, and animal feed.

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• Over 10,700 RBKs multi-functional kiosks with digital Aadhar authentication equipment have been

set up across AP.

• They also provide farm equipment and enable farmers to sell their produce at the prevailing

minimum support price (MSP) via supporting systems of e-cropping, geo-tagging, and CM App.

• They provide services like soil testing and consultancy regarding what crops to sow and the

quality and type of fertilizer to be used.

About integrated call center:

• The call center established at Gannavaram was set up in March of 2021 to address farmers'

grievances.

• The center has several scientists and 30 experienced call center executives.

• Suggestions and advice will be given to farmers on agriculture and related areas like horticulture,

sericulture, veterinary, fisheries, and marketing-related technical queries will be addressed.

• Recently, the RBKs were nominated for the UN Food and Agriculture Organization’s Champion

Awards (CCA), which recognizes the contributions of governments in boosting food security.

About Ethiopia:

• President: Sahle-Work Zewde

• Capital: Addis Ababa

• Currency: Ethiopian birr

About AP:

• Governor: Biswabhusan Harichandan

• Chief minister: YS Jagan Mohan Reddy

• Capital: Amaravati

• National Park: Papikonda National Park, Rajiv Gandhi (Rameshwaram) National Park, Sri

Venkateswara National Park

• Wildlife Sanctuaries: Coringa Wildlife Sanctuary, Kambalakonda Wildlife Sanctuary, Krishna

Wildlife Sanctuary, Gundla Brahmeswaram Wildlife Sanctuary

Andhra Pradesh: 3-day Kuchipudi dance festival to begin in Vijayawada

• The third World Kuchipudi Natyotsavam would be organized for three days in Vijayawada.

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• The Kuchipudi dance festival is being organized in commemoration of the 93 rd birth anniversary

of world-renowned Kuchipudi dance artist Vempati China Satyam.

• It is being organized by the Department of Culture, Government of Andhra Pradesh, Kuchipudi Art

Academy, and Jayaho Bharateeyam.

About the Festival:

• Around 3,000 Kuchipudi artists from Andhra Pradesh and Telangana would take part in the dance

festival.

• Two dances choreographed by Chinna Satyam Pedda Vinayaka Kautham and Koluvaitiva would

be performed.

• During the festival, Dr. Vempati Chinna Satyam Lifetime Achievement Award would be presented

to Bala Kondala Rao, and Kumari Lanka Annapoorna Devi's Lifetime Achievement Award would

be given to Vanaja Uday.

• Padmaja Reddy will receive the Dr. Sobha Naidu Lifetime Achievement Award, while Vempati

Venkat Seva Puraskar will be presented to Srikant Raghupatruni.

About Kuchipudi:

• It is one of the eight classical dance styles of India.

• It is the most popular traditional dance form in South India, and its origin is believed to be in

Andhra Pradesh.

About AP:

• Governor: Biswabhusan Harichandan

• Chief minister: YS Jagan Mohan Reddy

• Capital: Amaravati

• National Park: Papikonda National Park, Rajiv Gandhi (Rameshwaram) National Park, Sri

Venkateswara National Park

• Wildlife Sanctuaries: Coringa Wildlife Sanctuary, Kambalakonda Wildlife Sanctuary, Kri shna

Wildlife Sanctuary, Gundla Brahmeswaram Wildlife Sanctuary

TN CM Shri MK Stalin launches "Kutti Kavalar" scheme for school students

• Tamil Nadu (TN) Chief Minister (CM) Shri MK Stalin launched the "Kutti Kavalar" scheme for

school students to make them more responsible when it comes to road safety.

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• The scheme is jointly implemented by the State government and "Uyir", an NGO based out of

Coimbatore.

About the Scheme:

• Under the scheme, school students will be educated through a well-defined curriculum on road

safety to make them ambassadors of road safety.

• As the pledge was administered to a large number of students simultaneously, it formed a record

under 'The Asia Book of Records, and the certificate was handed over to the CM.

• Under the scheme, students of government, government-aided, and CBSE schools in the

Coimbatore district studying in Classes 3 to 8 will be given training on road safety.

• The CM also released a booklet on road safety training and a guide for teachers.

• Later, Shri Stalin launched fortnightly and monthly magazines for school students and teachers,

respectively.

• The magazine named "Oonjal" has been launched for students of Classes 4 and 5 and "Then

Chittu" has been for students of Classes 6 to 9.

• In the two magazines, the creative works of students, the information required for them, news, and

interesting stories will be presented.

• Similarly, for teachers, Stalin launched "Kanavu Asiriyar" in which the works of teachers, their

experience, and special essays will be published

About Tamil Nadu:

• Governor: R. N. Ravi

• Chief Minister: M. K. Stalin

• Capital: Chennai

• Dance: Bharatnatyam, Karakattam

• National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of

Mannar Marine National Park

• Wildlife Sanctuaries: Kalakad Wildlife sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird

Sanctuary

• Tiger Reserve: Anamalai Tiger Reserve

• Biosphere Reserve: Agasthyamalai Biosphere Reserve

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Kati Bihu is being observed across Assam

• The auspicious festival of harvest Kati Bihu or Kongali Bihu is being celebrated across Assam on

October 18, 2022.

• It is marked annually on the first day of the Kati month in the Assamese calendar and usually falls

during mid-October.

About Kati Bihu:

• It is the fresh start of the harvest season and the relocation of the rice saplings.

• Kati Bihu 2022 is rooted in the rural household's deep ethos which is related to crops and their

yields.

• At this festival, people also light a special lamp in their paddy fields.

• There are two Bihu festivals celebrated in Assam - Bhogali or Magh Bihu is observed on January

13th or 14th, and Rongali, or Bohag Bihu is observed on April 14th or 15th.

About Assam:

• Governor: Jagdish Mukhi

• Chief Minister: Himanta Biswa Sarma

• Capital: Dispur

• Dance: Bihu Dance, Jhumar, Bagurumba, Sattriya Dance

• National Park: Kaziranga National Park, Manas NP, Nameri NP, Raimona National Park

• Wildlife Sanctuaries: Amsang Wildlife Sanctuary, Chakrashila Wildlife Sanctuary, Garampani

Wildlife Sanctuary

Wildlife board approves new tiger reserve in Madhya Pradesh

• The Madhya Pradesh (MP) Wildlife Board approved a new reserve for tigers of Panna Tiger

Reserve (PTR), called Durgavati Tiger Reserve, one-fourth of which will get submerged due to the

linking of the Ken-Betwa rivers.

• The 2,339 square kilometers new tiger reserve, will spread across Narisinghpur, Damoh, and

Sagar districts.

• The Board’s meeting, chaired by Madhya Pradesh chief minister Shri Shivraj Singh Chouhan,

approved a proposal to notify 1,414 sq km area as core area and 925 sq km as a buffer in the new

tiger reserve.

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Key Highlights:

• A green corridor linking PTR with Durgavati will be developed for the natural movement of the tiger

to the new reserve.

• Now, the proposal will be sent to the National Tiger Conservation Authority (NTCA) for final

approval.

• Nauradehi wildlife sanctuary, which has five tigers, is a corridor between Satpura and PTR, while

Durgavati Wildlife Sanctuary is a green corridor for Bandhavgarh Tiger Reserve.

• The new reserve will also accommodate excess tigers from Bandhavgarh

• On September 27, 2022, the Uttar Pradesh cabinet approved the notification of the state’s fourth

tiger reserve in the Ranipur Wildlife Sanctuary (RWS) in the Chitrakoot district.

Note:

• Madhya Pradesh (MP) is also known as the ‘Tiger State’ as it occupies around 19% of India’s

Tiger Population and 10% of the world’s tiger population

About PTR:

• PTR is located in the Panna and Chhatarpur districts of Madhya Pradesh in India.

• It was declared in 1994 as the 22 Tiger reserve of India and the 5 in Madhya Pradesh.

• It was designated in 2020 by the United Nations Educational, Scientific, and Cultural Organization

(UNESCO).

About NTCA:

• The NTCA is a statutory body under the Ministry of Environment, Forests, and Climate Change.

About MP:

• Governor: Mangubhai C. Patel

• Chief Minister: Shivraj Singh Chouhan

• Capital: Bhopal

• Festival: Lokrang Festival, Grida dance

• National Park: Bandhavgarh National Park, Kanha NP, Panna NP

• Tiger Reserve: Satpura Tiger Reserve

CII & IOC launch project ‘Vayu Amrit’ in Sangrur

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• The Confederation of Indian Industry (CII) partnered with Indian Oil Corporation (IOC) to launch

project ‘Vayu Amrit’, a crop residue management initiative, in Sangrur, Punjab to mitigate stubble

burning.

About ‘Vayu Amrit’:

• The project has been scaled up to 300 villages covering 3 lakh acres of farmland.

• Through this Project, IOC l has recently partnered with the CII and is supporting the program in 9

villages of Sangrur covering 7,000 acres of farmland

• Stubble burning is a major cause of air pollution in the northwest, especially in the Delhi-National

Capital Region (NCR) during winters.

Key Highlights:

• In 2021, the CII runs a crop residue management program in Punjab and Haryana to mitigate

stubble burning to reduce air pollution.

• The project was operational in 226 villages covering 2 lakh acres of farmland last season.

• Through the project interventions, stubble burning was reduced by 84% in the intervening lands.

About CII:

• Founded: 1895

• Headquarters: New Delhi, Delhi, India

• President: Sanjiv Bajaj (Chairman MD & CEO of Bajaj Finserv Limited)

• Director General: Chandrajit Banerjee

• CII is a non-governmental trade association and advocacy group.

About IOC:

• Founded: 30 June 1959

• Headquarters: New Delhi, Delhi, India

• Chairman: Shrikant Madhav Vaidya

• IOC is a central public sector undertaking under the ownership of the Ministry of Petroleum and

Natural Gas, GoI.

Assam govt inks 7 MoUs with industry partners

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• The Assam government has inked 7 memoranda of understanding and agreement (MoU, MoA)

with different industry players in a move to draw a roadmap for a broad-based development of

Assam.

Key Highlights:

• On behalf of the government, Assam Skill Development Mission (ASDM) entered into agreements

with Microsoft, Google India, Larsen & Toubro, and Health Care Sector Skill Council.

• The Directorate of employment and craftsmen training executed an MoU with Info Edge (India)

better known as Naukri.com.

• The Assam Tourism Development Corporation signed an MoU with the ministry of skill

development and entrepreneurship, the Government of India, TATA Strive Skill Development

Initiatives of Tata Community Initiative Trust, and the Indian Hotels Company.

• Further, Assam Power Distribution Company (APDCL) also signed an agreement with Satluj Jal

Vidyut Nigam’s Green Energy for the generation of 1000 MW of solar power.

About the MoU & Agreements:

Microsoft:

• The MoU with Microsoft will pave the way for building the capacity of the youth in Assam Skill

Development Centers across the state.

• Microsoft through their modules of MDSP (Microsoft Diversity Skilling Programme) will provide

intervention for under-served youth to ensure their active participation in the workforce.

Google:

• The objective of the agreement with Google India is to support the state government in skilling

youth with job-ready digital and business skills.

L&T:

• L&T would offer knowledge and support for establishing training setup and executing greenfield

projects in the construction sector.

HSSC:

• The objective of the MoU with the Healthcare Sector Skill Council (HSSC) is to mobilize the

unemployed youth of Assam for skill training.

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 Important Monthly Current Affairs Capsule – October 2022

Naukri.com:

• The Directorate of Employment and Craftsmen Training’s MoU with Naukri.com would provide an

online platform for unemployed youth to have their profile uploaded to the digital domain to attract

prospective employers.

APDCL:

• The MoU between APDCL and SJVNL Green Energy (SGEL) would also aim at the development

of renewable power projects, namely solar power with 1000 MW installed capacity.

Assam Tourism Development Corporation:

• The agreement signed between the Assam Tourism Development Corporation and TATA Strive

Skill Development Initiatives and others would also set up a hospitality skill center of excellence

for the training of the youth of Assam.

About Assam:

• Governor: Jagdish Mukhi

• Chief Minister: Himanta Biswa Sarma

• Capital: Dispur

• Dance: Bihu Dance, Jhumar, Bagurumba, Sattriya Dance

• National Park: Kaziranga National Park, Manas NP, Nameri NP, Raimona National Park

• Wildlife Sanctuaries: Amsang Wildlife Sanctuary, Chakrashila Wildlife Sanctuary, Garampani

Wildlife Sanctuary

India’s First 4.20-MW Wind Power Generator Installed In Tirunelveli, TN

• The WEG Industries Pvt. Ltd has installed India’s first 4.20-MW wind turbine generator, a single

unit with the largest generation capacity, at Vadalivilai near Valliyoor in Tirunelveli district,

Tamil Nadu at ₹88 crores.

• Gujarat and Tamil Nadu would be the major players in the mission.

Key Highlights:

• The central government has set the goal to produce 500 GW of power through renewable

energy sources by 2030, out of which solar energy would account for 300 GW.

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• The other renewable energy sources would be tapped optimally to generate the remaining 200

GW.

• Tamil Nadu has the potential to generate 35 GW of wind power, with Dhanushkodi alone

capable of producing 30 GW.

• So far, the 3,000-odd windmills installed in the Aralvaimozhi Pass can generate power up to 2

MW.

About WEG Industries Pvt. Ltd:

• Headquarters (India): Bangalore, Karnataka

• MD of WEG Industries (India) Private Limited Jean Carlo Butske

• It has its manufacturing unit in India at SIPCOT Industrial Estate, Hosur.

About Tamil Nadu:

• Governor: R. N. Ravi

• Chief minister: M. K. Stalin

• Capital: Chennai

• Dance: Bharatnatyam, Karakattam

• National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of

Mannar Marine National Park

• Wildlife Sanctuaries: Kalakad Wildlife sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird

Sanctuary

• Tiger Reserve: Anamalai Tiger Reserve

• Biosphere Reserve: Agasthyamalai Biosphere Reserve

UP's 136 feet Durga Puja pandal to enter in Guinness Book as world's tallest

• The 136 feet tall Durga puja pandal situated in Lucknow's Jankipuram, Uttar Pradesh (UP) is all

set to be recorded in the Guinness Book of World Records as the tallest ever.

• Before this, the title of the world’s tallest pandal was held by Kolkata, whose height was 125 feet

but, now it is overpowered by the Lucknow Durga Puja pandal.

About Durga puja pandal:

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• The pandal is a replica of the under-construction Chandrodaya temple of Vrindavan, which is built

to be one of the tallest religious monuments in the world with a height of above 700-ft and spread

over 5,40,000 sq feet area.

• It is built by the Utsav Puja Committee, which is also celebrating the Puja for the last 28 years.

• The pandal has been built by 52 artisans from Kolkata and Assam in over one month time period.

• A total of Rs 32 lakhs have been spent in making this tallest Durga Puja pandal.

• The Durga Puja pandal, going to be certified by the Guinness Book, is as tall as a 14-storey

building.

Paytm Mall becomes first to go live on ONDC in Bengaluru beta test

• Paytm E-commerce Private Limited (PEPL), the parent of Paytm Mall, became the first app to go

live on the Open Network for Digital Commerce (ONDC) in Bengaluru, Karnataka.

• This is a major milestone in the democratization of e-commerce in India.

• The network started beta testing for the public across 16 pin codes in Karnataka.

• This will enable the purchase and sale of goods in the Indian market, driving transparency and

digital independence for small businesses in the country

• For now, people can place orders in two domains groceries and restaurants through buyer-side

apps, giving users access to a wide range of local businesses.

• The Bengaluru beta testing has begun with MyStore and Spice Money as buyer-side apps.

Ladakh MP Jamyang Tsering Namgyal launches “Main Bhi Subhash'' campaign from Leh

• Ladakh MP Mr. Jamyang Tsering Namgyal launched the “Main Bhi Subhash'' campaign from Leh.

Aim:

• To create awareness of Netaji's contribution to the freedom fight

• This event was organized in collaboration with Netaji Subhash Chandra Bose-INA Trust and the

Ministry of Culture on the occasion of Netaji's 125th Birth Anniversary on 23rd January 2023

• Mr. Namgyal also inaugurated an exhibition on Netaji at Boys Higher Secondary School in Leh.

About Ladak:

• Lieutenant Governor: Radha Krishna Mathur

• Capital: Leh, Kargil

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Delhi govt launches 'Diya Jalao, Patake Nahi' campaign

• The Delhi government has launched an anti-firecracker campaign named 'Diya Jalao, Patake

Nahi' (light up lamps, not firecrackers) at Central Park in New Delhi, Delhi to promote a pollution-

free festival of Diwali.

Objective:

• To stop people from bursting firecrackers and encourage them to celebrate Diwali with diyas.

About the Campaign:

• As per the order of the Delhi government, those who will be found indulging in the storage,

production, and sale of crackers will have to pay a fine of 5000 rupees and imprisonment of 3

years as well.

• Those who will be found bursting firecrackers will be imposed a fine of 200 rupees and

imprisonment for 6 months.

• To check air pollution, storage, sale, and use of all types of firecrackers have already been

banned in the national capital till 1st January 2023.

About Delhi:

• Lt. Governor: Vinai Kumar Saxena

• Chief Minister: Arvind Kejriwal

• Capital: New Delhi

• Wildlife Sanctuaries: Asola Bhatti Wildlife Sanctuary, National Chambal Sanctuary

First national project upper bhadra scheme to be launched in Karnataka

• Karnataka Chief Minister Shri Basavaraj Bommai announced that the Upper Bhadra scheme will

become Karnataka's first national project.

• The scheme has got the approval of the Press Information Bureau (PIB) and the Union Jal Shakti

Minister Shri Gajendra Singh Shekhawat has been requested to get it passed in the Union

Cabinet.

Key Highlights:

• The Tumkur-Davangere railway line has been reviewed and directions are issued to acquire land

for the project.

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 Important Monthly Current Affairs Capsule – October 2022

• Once this work is done, then all steps will be taken to start the project & the necessary funds will

be released.

• The reason behind the delay in the acquisition of 1.7 acres for the Upper Bhadra scheme for the

last 2 years, there are problems with a few farmers providing the land.

About the Upper Bhadra scheme:

• The Upper Bhadra Project is being undertaken by Visvesvaraya Jala Nigam Ltd.

• It is a major lift irrigation scheme under implementation in Karnataka.

• The project envisages the lifting of 17.40 thousand million cubic feet (tmcft) of water in the first

stage from the Tunga river to the Bhadra reservoir and the lifting of 29.90 tmcft of water in the

second stage from the Bhadra reservoir to irrigate 2,25,515 hectares by micro-irrigation in

Chitradurga, Davanagere, Tumakuru and parts of Chikkamagaluru.

About Karnataka:

• Governor: Thawar Chand Gehlot

• Chief minister: Basavaraj Bommai

• Capital: Bengaluru

• National Park: Bandipur NP, Kudremukh NP, Bannerghata NPRajiv Gandhi NP

• Wildlife Sanctuaries: B R Hills Wildlife Sanctuary, Cauvery Wildlife Sanctuary, Gudavi Bird

Sanctuary, Bhadra Wildlife Sanctuary

• Tiger Reserve: Nagarahole Tiger Reserve, Bhadra Tiger Reserve

• Festival: Hampi, Mahamastakabhisheka (Shravanabelagola)

• Dance: Yakshagana, Dollu Kunitha, Bolak-aat (Bolak Dance), Huttari Dance

Odisha CM Shri Naveen Patnaik Launches Football for All’ program for the promotion of sport among

children

• Odisha Chief Minister Shri Naveen Patnaik virtually launched the 'Football for All initiative to

promote the sport among school children in Odisha.

• The Programme has been initiated by FIFA in Odisha in partnership with the Kalinga Institute of

Industrial Technology (KIIT) & Kalinga Institute of Social Sciences (KISS).

• This is the first such program of FIFA in India that aims at promoting football among school

children.

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 Important Monthly Current Affairs Capsule – October 2022

• Under the program, sponsored by FIFA in partnership with institutes KIIT & KISS, Odisha will

distribute at least 43,000 footballs among children of around 2,000 schools.

About Odisha:

• Governor: Ganeshi Lal

• Chief minister: Naveen Patnaik

• Capital: Bhubaneswar

• National Park: Simlipal National Park, Bhitarkanika National Park

• Wildlife Sanctuaries: Tikarpada Wildlife Sanctuary, Chilika Wildlife Sanctuary, Sunabeda Wildlife

Sanctuary, Kotagarh Wildlife Sanctuary

• Dance: Odissi, Ghumara

About FIFA:

• Founded: 21 May 1904

• Headquarters: Zürich, Switzerland

• President: Gianni Infantino

• Secretary General: Fatma Samoura

• Membership: 211 national associations

DGCA grants aerodrome license to Odisha’s Jeypore airport

• The Directorate General of Civil Aviation (DGCA) granted the aerodrome license to Odisha’s

Jeypore airport.

Key Highlights:

• Jeypore became the “first” state-owned airport to get the license.

• The airport will now be able to handle scheduled commercial flights under the government’s

regional connectivity scheme UDAN, or Ude Desh ka Aam Naagrik.

• The airport, 33 km northwest of Koraput town and around 500 km southwest of Bhubaneswar

would boost tourism and development of the region.

• Under UDAN, 68 underserved/unserved destinations which include 58 Airports, 8 heliports, and 2

water aerodromes have been connected.

• The license would be liable to suspension, modification, or withdrawal if the provisions of the

Aircraft Act and the Aircraft Rules were violated.

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About DGCA:

• Headquarters: New Delhi, Delhi, India

• Director General: Arun Kumar

• The DGCA is a statutory body of the Government of India to regulate civil aviation in India

Jakson Green to invest R s 22,400 cr in green hydrogen project in Rajasthan

• Jakson Green Pvt Limited (JGPL) has signed a memorandum of understanding (MoU) with the

Rajasthan government to invest about Rs 22,400 crore (US$ 2.71 billion) to set up green

hydrogen and green ammonia projects in Rajasthan.

• The MoU was signed by Vish Iyer, Global Chief Commercial Officer, Jakson Green, and Bhaskar

S Sawant, Principal Secretary of Energy to the government of Rajasthan.

About the MoU:

• Jakson Green is expected to set up a 365,000-tonne per annum green hydrogen and ammonia

plant together with a phased-in integrated hybrid renewable power complex.

• The project is expected to generate over 32,000 direct and indirect employment opportunities

across various phases of the scale-up, planned between 2023 and 2028.

• The Rajasthan government would facilitate Jakson Green in obtaining necessary registrations,

approvals, and clearances, and provide incentives, among others.

About Jakson Green:

• Managing Director & CEO: Bikesh Ogra

• It is actively developing a pipeline of renewable energy, green hydrogen, and green ammonia

projects, both in India and abroad.

About Rajasthan:

• Governor: Kalraj Mishra

• Chief minister: Ashok Gehlot

• Capital: Jaipur

• National Park: Ranthambore National Park, Darrah National Park

• Wildlife Sanctuaries: Mount Abu Wildlife Sanctuary, Sajjangarh Wildlife Sanctuary

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 Important Monthly Current Affairs Capsule – October 2022

Meghalaya govt signs MoA with power firm for hydroelectric projects

• The Government of Meghalaya, Power Department has signed an agreement with North Eastern

Electric Power Corporation Ltd (NEEPCO) for the development of two hydel projects in

Meghalaya at a program held at Pinewood Hotel, Shillong.

• The agreement for the development of 50-megawatt Wah Umiam Hydro Electric Project Stage-I

and 100-MW Wah Umiam Hydro Electric Project S tage-II was signed between the two parties.

Signatories:

• The MOA was signed by the Joint Secretary to the Government of Meghalaya, Power Department

D D Shira, and Anil Kumar Director Personnel, NEEPCO.

• Presently the government of Meghalaya can generate only 350 MW and the requirement in the

state is 650 MW.

About Meghalaya:

• Governor: Satya Pal Malik

• Chief Minister: Conrad Sangma

• Capital: Shillong

• National Park: Nokrek National Park, Balpakram National Park

• Wildlife Sanctuaries: Siju Bird Sanctuary, Nongkhyllem Sanctuary

About NEEPCO:

• Founded: 2 April 1976

• Headquarters: Shillong, Meghalaya, India

• Chairman & Managing Director: R.K Vishnoi

• NEEPCO is a central public sector undertaking.

• It is under the ownership of the Ministry of Power, Government of India.

• NEEPCO is conferred with the Schedule A- Miniratna Category-I Central Public Sector

Undertaking (CPSU) status.

Railway minister inaugurates India’s first all-aluminum freight rake

• Union Minister for Railways Shri Ashwini Vaishnaw inaugurated India’s First Aluminum Freight

Rake - 61 BOBRNALHSM1 at Bhubaneswar Railway Station in Odisha.

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 Important Monthly Current Affairs Capsule – October 2022

• It had been fully designed and developed indigenously in collaboration with Research Designs &

Standards Organisation (RDSO), HINDALCO, and Besco Wagon.

• Notably, its first-time aluminum rake has been manufactured in India with the feature of fully lock-

bolted construction with no welding on the superstructure.

• Aluminum is the preferred choice for metro trains worldwide for its durability and most importantly

– passenger safety, as it has improved crashworthiness or superior crash absorption capability.

Features of Aluminium Rake:

• The tare is 3.25 tons lower than normal steel rakes, with 180 tons extra carrying capacity resulting

in higher throughput per wagon.

• Higher payload to tare ratio 2.85

• The reduced rate will reduce carbon footprint as lower consumption of fuel in empty directions and

more transport of freight in a loaded condition.

• A single rake can save over 14,500 tonnes of CO2 over its lifetime.

• 80% is the resale value of the rakes.

• The cost is 35% higher as the superstructure is all aluminum.

• Lower maintenance cost due to higher corrosion and abrasion resistance.

• The freight sector in India is expected to grow at more than 7% Compound Annual Gr owth R ate

(CAGR) to 15 billion tonnes by 2050, with the energy-efficient and eco-friendly railways expected

to notably increase its volume share from the current 18%.

About Ministry of Railways:

• Cabinet Minister: Ashwini Vaishnaw

• Minister of State: Raosaheb Danve, Darshana Jardosh

• Chairman & CEO of Railway Board: Vinay Kumar Tripathi

About Odisha:

• Governor: Ganeshi Lal

• Chief minister: Naveen Patnaik

• Capital: Bhubaneswar

• National Park: Simlipal National Park, Bhitarkanika National Park

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 Important Monthly Current Affairs Capsule – October 2022

• Wildlife Sanctuaries: Tikarpada Wildlife Sanctuary, Chilika Wildlife Sanctuary, Sunabeda Wildlife

Sanctuary, Kotagarh Wildlife Sanctuary

• Airport: Biju Patnaik International Airport

‘Honesty shops’ launched for school students in Kerala’s Ernakulam

• For the first time, "Honesty shops” have been launched in the Ernakulam district of Kerala for

students up to Class 12.

• This initiative was launched by the Student police cadet (SPC), a youth-development program.

Aim:

• To cultivate valuable lessons on trust, truth, and integrity for students

• There will be no salesperson in these shops and neither will they have a shopkeeper present.

• Students can choose items they need and drop the money for each item inside the collection box

kept on a table.

• SPC, an initiative launched in 2008 was started to inculcate better civic sense among students.

About Kerala:

• Governor: Arif Mohammad Khan

• Chief minister: Pinarayi Vijayan

• Capital: Thiruvananthapuram

• Wildlife Sanctuaries: Chinnar Wildlife Sanctuary, Kumarakom Bird Sanctuary, Periyar Wildlife

Sanctuary, Parambikulam Wildlife Sanctuary

• National Park: Eravikulam National Park, Silent Valley National Park

• Dance: Kathakali, Mohiniattam, Chakyar Koothu

Delhi LG launches one-time property tax amnesty scheme ‘SAMRIDDHI 2022-23’

• Delhi Lieutenant Governor Shri Vinai Kumar Saxena launched a one-time property tax amnesty

scheme “SAMRIDDHI 2022-23”, which will provide a major relief to lakhs of residential and

commercial property owners in Delhi.

About SAMRIDDHI:

• SAMRIDDHI, an acronym for Strengthening and Augmentation of Municipal Revenue for

Infrastructure Development in Delhi, will start on October 26, 2022, & end on March 31, 2023, with

no further extensions.

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 Important Monthly Current Affairs Capsule – October 2022

• The tax amnesty program envisages a ‘One Plus Five’ option for residential and a ‘One Plus Six’

option for non-residential properties.

About One Plus Five:

• The taxpayers of residential properties under ‘One Plus Five’ are required to pay the principal

amount of property tax for the current year and previous five years (i.e FY 2022-23 + FYs 2017-18

to 2021-22) whereupon 100% interest and penalty on the outstanding tax amount shall be

exempted and all the previous dues before 2017-18 will be waived off.

About One Plus Six:

• Under the ‘One Plus Six’ for non-residential properties scheme, property owners have to make

payment of the principal amount of property tax for the current year and the previous 6 years (i.e

FY 2022-23 + FYs 2016-17 to 2021-22) whereupon 100% interest and penalty on the outstanding

tax amount shall be exempted and all the previous dues before 2016-17 will be completely waived

off.

• In case a taxpayer fails to settle his tax dues by March 31, 2023, he shall be liable to pay all tax

dues along with interest and penalty since 2004 or since whichever year it has been pending and

shall not be entitled to any waiver.

• Coercive measures to collect the tax dues shall be launched against such defaulters from April 1,

2023.

About Delhi:

• Lt. Governor: Vinai Kumar Saxena

• Chief Minister: Arvind Kejriwal

• Capital: New Delhi

• Wildlife Sanctuaries: Asola Bhatti Wildlife Sanctuary, National Chambal Sanctuary

• Airport: Indira Gandhi International Airport

Assam & USAID launch green initiative to increase tree coverage in Assam

• The Assam government department of Environment and Forests and the US Agency for

International Development (USAID) launched the “Trees Outside Forests in India (TOFI)” program

in Assam

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Aim:

• To bring together farmers, companies, and private institutions to rapidly expand tree coverage

outside of traditional forests in Assam.

About TOFI:

• The TOFI program was first launched in September 2022 by the Ministry of Environment, Forest,

and Climate Change secretary Leena Nandan and US Chargé d'Affaires Patricia Lacina.

• The program will allocate up to 25 million USD in 7 states - Assam, Andhra Pradesh, Haryana,

Odisha, Rajasthan, Tamil Nadu, and Uttar Pradesh, to rapidly expand tree coverage outside of

traditional forests by 2.8 million hectares.

• It contributes to India’s Nationally Determined Contribution target of creating an additional “carbon

sink” of 2.5 to 3 billion tons of carbon dioxide equivalent by 2030.

• The program builds on the enduring US-India partnership to tackle the climate crisis and bolster

resilience in the face of climate threats and extreme weather events.

• It is expected to enhance carbon sequestration, support local communities, and strengthen the

climate resilience of agriculture, thereby supporting global climate change mitigation and

adaptation goals.

• Assam has placed a high priority on expanding tree cover outside forest areas, as demonstrated

in its State Action Plan on Climate Change and the recent establishment of the Assam

Agroforestry Development Board.

About Assam:

• Governor: Jagdish Mukhi

• Chief Minister: Himanta Biswa Sarma

• Capital: Dispur

• Dance: Bihu Dance, Jhumar, Bagurumba, Sattriya Dance

• National Park: Kaziranga National Park, Manas NP, Nameri NP, Raimona National Park

• Wildlife Sanctuaries: Amsang Wildlife Sanctuary, Chakrashila Wildlife Sanctuary, Garampani

Wildlife Sanctuary

About USAID:

• Established: November 3, 1961

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 Important Monthly Current Affairs Capsule – October 2022

• Headquarters: Washington, D.C, United States

• Administrator: Samantha Power

• Motto: From the American people

• USAID is an independent agency of the U.S. federal government that is primarily responsible for

administering civilian foreign aid and development assistance.

PM Modi to visit Arunachal Pradesh to inaugurate Donyi Polo airport

• Prime Minister Shri Narendra Modi visited Arunachal Pradesh on October 30, 2022, to inaugurate

the Donyi Polo Airport, at Hollongi near Itanagar.

About the airport:

• The Donyi Polo airport, which was built by the Airport Authority of India (AAI) at an estimated cost

of Rs 645 crore, has 8 check-in desks and can accommodate up to 300 people at peak times.

• The airport, spanning an area of 4,100 sq m, is equipped with all modern facilities

• It is suitable for the operations of Airbus-a320 type of aircraft.

• The first airport built in Arunachal Pradesh, which was used for a successful test landing by low-

cost carrier Indigo Airlines, was opened on October 18, 2022.

• Recently, commercial airlines giant - IndiGo conducted a successful test of flight landing at the

newly built Donyi Polo airport at Hollongi near Itanagar in Arunachal Pradesh.

About Arunachal Pradesh:

• Governor: B. D. Mishra

• Chief minister: Pema Khandu

• Capital: Itanagar

IMPORTANT NATIONAL NEWS

Mr. Bhupender Yadav released a report on the 4th round of the quarterly employment survey:

• Labour & Employment Minister Bhupender Yadav released a report on the 4th round of the

quarterly employment survey.

• The Fourth Round (January-March, 2022) of the Quarterly Employment Survey (QES) is part of

the All India Quarterly Establishment-based Employment Survey (AQEES).

• The QES as a part of the AQEES was launched in April 2021.

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 Important Monthly Current Affairs Capsule – October 2022

• The report has estimated employment in both organized and unorganized segments of nine

selected sectors.

• The estimated employment has increased from 3.14 crore in the third quarter (September-

December, 2021) to 3.18 crore in the fourth quarter.

• The female workers’ participation has slightly increased from 31.6 percent in the third quarter to

31.8 percent in the 4th quarter report.

• The manufacturing sector accounts for 38.5 percent of the total number of workers, followed by

the Education sector at 21.7%, the IT/BPO sector at 12%, and the Health sector at 10.6%.

• Around 80% of the establishments have 10 to 99 workers. Only 1.4 % of the establishments

reported at least 500 workers.

• Female workers are about 52 % of the workforce in the Health sector.

• The 9 sectors are Manufacturing, Construction, Trade, Transport, Education, Health,

Accommodation and Restaurants, IT/BPO, and Financial Service Activities.

Indian Railways is installing the 'Real Time Train Information System (RTIS):

• Indian Railways has launched a real-time information system to track train movement timings.

• It has been developed in collaboration with ISRO.

• RTIS is automatically plotted on the control charts of trains in the Control Office Application (COA)

system.

• Indian Railways has installed RTIS devices on 2,700 locomotives in 21 electric loco sheds.

• RTIS will update the location within 30 seconds.

• Also, RTIS can more closely track the location and speed of the locomotive/train without any

human intervention.

• In the second phase, 6,000 more locomotives will be covered in 50 loco sheds using ISRO's

SATCOM hub.

• At present, the GPS feed from about 6,500 locomotives (RTIS and REMMLOT) is being fed

directly to the Control Office Application (COA).

The Government of India has banned the Popular Front of India:

• The Government of India has banned the Popular Front of India(PFI), its affiliates, and associates.

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 Important Monthly Current Affairs Capsule – October 2022

• PFI has been banned as an unlawful association with instant effect for five years under the

Unlawful Activities Act, of 1967.

• The ban is also applicable to PFI fronts including Rehab India Foundation(RIF), All India Imams

Council (AIIC), National Women’s Front, Empower India Foundation, Rehab Foundation, Kerala,

Campus Front of India(CFI), National Confederation of Human Rights Organization(NCHRO), and

Junior Front, as an “unlawful association”.

• According to the reports, the ban has been imposed against PFI and its affiliates for indulging in

unlawful activities, which are prejudicial to the security, integrity, and sovereignty of the country.

• The ban has been imposed under section 4 of the UAPA and has an effect of five years.

• The government applied a ban, mentioning that the investigations have established clear linkages

between the PFI and its associates.

Union Minister of Power and New & Renewable Energy launched the Agni Tattva - Energy for LiFE

campaign:

• Recently, the Union Minister of Power and New & Renewable Energy launched the Agni Tattva -

Energy for LiFE campaign, to create awareness of the core concept of Agni Tattva, an element

that is synonymous with energy and is amongst the five elements of Panchmahabhoot.

• The Panchmahabhoot comprises Earth (Prithvi), Water (Jal), Fire (Agni), Air (Vayu), and Aether/

Space (Aakash).

• The idea of LiFE was introduced by India during the 26th United Nations Climate Change

Conference of the Parties (COP26) in Glasgow in 2021.

• The idea promotes an environmentally conscious lifestyle that focuses on ‘mindful and deliberate

utilization’ instead of ‘mindless and wasteful consumption.

• The country’s installed Renewable Energy (RE) capacity stands at 150.54 GW (solar: 48.55 GW,

wind: 40.03 GW, Small hydro Power: 4.83, Bio-power: 10.62, Large Hydro: 46.51 GW) as of 30th

Nov. 2021 while its nuclear energy based installed electricity capacity stands at 6.78 GW.

• According to REN21's Renewables 2022 Global Status Report (GSR 2022), India was ranked

third in wind power, fourth in solar power, and third in renewable power installed capacity in 2021.

Union Cabinet approved a 4 % hike in dearness allowance (DA) for central government employees and

pensioners:

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 Important Monthly Current Affairs Capsule – October 2022

• Union Cabinet has approved a 4% additional installment of Dearness Allowance and Dearness

Relief to Central Government employees and pensioners with effect from July 1, 2022.

• The move will benefit about 41.85 lakh Central Government employees and 69.76 lakh,

pensioners.

• The Central Government employees and pensioners will become entitled to a higher amount of

Dearness Allowance (DA) and Dearness Relief (DR) respectively, with effect from July 1, 2022.

• Serving employees get DA and now its rate will go up to 38 percent from 34 percent.

• The new rate will be effective from July 1.

• As salary and pension for September have already been prepared, this means higher DA and DR

along with arrears are likely to be part of the salary and pension for October.

Union Cabinet has approved the extension for the PMGKAY-Phase VII for a further period of 3 months:

• In pursuance of the pro-people announcement made by the Hon’ble Prime Minister in 2021and

regarding the successful implementation of additional food security under PMGKAY, the Union

Cabinet has approved the extension for the Pradhan Mantri Garib Kalyan Anna Yojana

(PMGKAY-Phase VII) for a further period of 3 months i.e. October to December 2022.

• Under this welfare scheme, 5 kg of food grain per person per month is provided free of cost for all

the beneficiaries covered under the National Food Security Act (NFSA) [Antodaya Anna Yojana &

Priority Households] including those covered under Direct Benefit Transfer (DBT).

• The financial implication for the Government of India has been about Rs. 3.45 Lakh Crore up to

Phase-VI of PMGKAY.

• With the additional expenditure of about Rs. 44,762 Crore for Phase-VII of this scheme, the overall

expenditure of PMGKAY will be about Rs. 3.91 lakh crore for all the phases.

• The PM-GKAY was one of the components of the government’s Rs 1.7 lakh crore Covid-19 relief

package announced by Union Finance Minister Nirmala Sitharaman on March 26, 2020—two days

after the country went into national lockdown.

The government of India will launch a month-long nationwide Clean India 2.0:

• The Department of Youth Affairs of the Ministry of Youth Affairs and Sports (Government of India)

will launch a month-long nationwide Clean India 2.0 from 1st -31st October 2022 after the

successful campaign of last year.

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 Important Monthly Current Affairs Capsule – October 2022

• The program is being organized in all the villages across the country through the network of Nehru

Yuva Kendra Sangathan (NYKS), affiliated Youth Clubs & National Service Scheme Affiliated

Institutions.

• This month-long nationwide program will be launched to collect waste material mainly single-use

plastic and create awareness among people.

• One crore kilogram of waste material including plastic and e-waste will be collected and disposed

of with the support and voluntary participation of citizens.

• Hotspots for waste collection will be Tourist Places, Educational Institutes, Bus Stand/Railway

Stations and the vicinity, National Highways, Historical and heritage buildings, religious places &

surroundings, Hospitals, and Water resources, etc.

Union Cabinet approved the Indian Railways’ ₹10,000 crore proposal for the redevelopment of three

major stations:

• The Union Cabinet approved the Indian Railways’ ₹10,000 crore proposal for the redevelopment

of three major stations — New Delhi, Ahmedabad, and Mumbai’s Chhatrapati Shivaji Maharaj

Terminus (CSMT).

• With the redevelopment, expected to be completed in 2.5 to 3.5 years, passengers will be able to

enjoy facilities such as a food court, a waiting lounge, a playing area for children, a place to shop

local products, proper illumination, and lifts/escalators/travelators, among other facilities.

• The stations, which will make use of green building techniques with solar energy, water

conservation/recycling, and improved tree cover, will be integrated with other modes of

transportation such as the metro and bus.

• The government would be funding the redevelopment project to not put any extra monetary

burden on passengers.

• Overall, the government is currently working on the redevelopment of 199 stations, of which

tenders have been issued for the redevelopment of 47 stations.

Prime Minister laid the foundation stone of the World’s First CNG Terminal and brownfield port along with

Regional Science Centre in Bhavnagar:

• Three years after a formal agreement was signed for setting up the world’s first CNG terminal in

Gujarat, Prime Minister Narendra Modi will lay the foundation stone for the project at Bhavnagar.

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 Important Monthly Current Affairs Capsule – October 2022

• The Foresight Group signed a Memorandum of Understanding (MoU) with the Gujarat Maritime

Board (GMB) for the development of a CNG terminal in Gujarat during the Vibrant Gujarat Global

Business Summit 2019.

• The Government of Gujarat accepted the project proposal and GMB issued a Letter of Intent (LOI)

in September 2020 in the name of Bhavnagar Port Infrastructure Private Limited (BPIPL), a

special-purpose vehicle formed by the consortium.

• The brownfield port at Bhavnagar will be developed at Rs 4,024 crore and will have the state-of-

the-art infrastructure for the world’s first CNG terminal along with the world’s fourth largest lock

gate system.

• The construction of the port is expected to commence in the first half of 2023 and the port will be

operational in 2026.

• Prime Minister will also inaugurate the Regional Science Centre in Bhavnagar which is spread

over 20 acres and built at Rs 100 crore.

• The Regional Science Centre (RSC) Bhavnagar is situated near Das Nala, Nari Gam.

The government to make mandatory 6 airbags rule for passenger cars will come into force from1 October

2023

• Union Road Transport and Highways Minister Nitin Gadkari announced the mandatory 6 airbags

rule for passenger cars will come into force in October 2023.

• The road transport ministry had earlier planned to make six airbags mandatory in eight-seater

vehicles for enhanced safety of occupants from 1 October 2022.

• The government had to defer the implementation of the proposal to make six airbags mandatory in

passenger cars by a year due to global supply-chain constraints.

• An airbag is a vehicle occupant-restraint system that interferes between the driver and the

vehicle's dashboard during a collision, thereby preventing serious injuries.

• According to National Crime Records Bureau (NCRB) data, more than 1.55 lakh lives were lost in

road crashes across India last year – an average of 426 daily or 18 every single hour – which is

the highest death figures recorded in any calendar year so far.