Daily BeePedia

17th October 2023

INDEX

RBI, Banking and Economy ___________________________________________ 3

SEBI and Financial Awareness _________________________________________4

NABARD and Agriculture ___________________________________________

National __________________________________________________________ 6

International _____________________________________________________ 6

States____________________________________________________________ 6

Reports and Indexes _______________________________________________

Science and Technology ___________________________________________

Defence __________________________________________________________

Events ___________________________________________________________ 8

Awards & Rewards ___________________________________________________9

Appointments _____________________________________________________ 8

Important Days ___________________________________________________ 9

Obituaries_________________________________________________________ 10

Books ___________________________________________________________

Sports ___________________________________________________________
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Memory check 16th October 2023

Q.1: During which months is being/was/will be the third round of Intensified Mission Indradhanush
(IMI 5.0) conducted in 2023?
A) March 9-14
B) June 7-12
C) September 11-16
D) October 9-14
E) November 5-10

Q.2: In which city did External Affairs Minister S Jaishankar inaugurate a bust of Nobel Laureate
writer-poet Rabindranath Tagore?
A) Hanoi
B) Ho Chi Minh City
C) Hue
D) Da Nang
E) Bac Ninh City

Q.3: What was the objective of the two-day comprehensive Coastal Security Exercise Sagar Kavach
02/23 conducted by the Indian Navy?
A) To test the efficiency of naval ships in open-sea maneuvers
B) To evaluate the response time of coastal security agencies
C) To assess the efficacy and robustness of the coastal security mechanism
D) To conduct anti-piracy operations in the Bay of Bengal
E) To practice search and rescue operations in the Arabian Sea

Q.4)The Reserve Bank of India (RBI) has canceled the Certificate of Registration of Chennai-based Ind
Bank Housing Ltd. HUDCO and which bank are the major shareholders of this housing finance
company?
A.Indian Overseas Bank
B.Indian Bank
C.UCO Bank
D.Union Bank of India
E.None of these

Q.5)A dashboard,iFinance has been launched which will enable customers, both retail and sole
proprietors, to get a consolidated view of their savings and current accounts in one place & will assist
them to exercise better control over expenses and monitor their finances in a seamless manner?
A.ICICI Bank
B.YES Bank
C.Kotak Mahindra Bank
D.Axis Bank
E.None of these

Answer key at the

end of the file

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RBI, Banking and Economy

More entities get RBI's in-principle nod to operate as payment aggregator

 The Reserve Bank of India (RBI) has granted in-principle authorisation to a total of 37 existing
payment aggregators (PAs) and 23 new PAs.
 Eight existing PAs and 18 new applications are under process.
 Among existing PAs, Zaak Epayment Services Private Limited, which is a part of fintech platform
Mobikwik, has received in-principle authorisation.
Learn Along:
RBI Headquarters: Mumbai Governor: Shaktikanta Das
Deputy Governors: Swaminathan Janakiraman,
MD Patra, M Rajeshwar Rao and T. Rabi Sankar

SIDBI & GAME onboards 18 cohorts to NBFC Growth Accelerator Program

 The Small Industries Development Bank of India (SIDBI) and the Global Alliance for Mass
Entrepreneurship (GAME) have selected 18 cohorts for their NBFC Growth Accelerator Program
(NGAP).
 Designed as a five-month initiative, the programme will offer mentorship from domain experts in
areas such as risk management, corporate governance, and technology.
 It levies a fee of Rs 1 lakh per Non-Banking Financial Company (NBFC), a cost that is nearly 80 per
cent subsidised.
 This collaboration between SIDBI and GAME aims to enhance the lending capabilities of NBFCs
focused on Micro, Small and Medium Enterprises (MSMEs). The initiative seeks to facilitate more
reasonable credit rates for smaller NBFCs, thereby strengthening capital flow into the MSME sector.
Learn Along:
SIDBI Headquarters: Lucknow Chairperson: Sivasubramanian Ramann

Global Alliance for Mass Entrepreneurship Headquarters: Bengaluru Chairperson: Ravi Venkatesan

A non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 and engaged
in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government
or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business

Micro, Small, Medium Enterprises (MSME’s) are entities that are involved in production, manufacturing and
processing of goods and commodities. The concept of MSME was first introduced by the government of India
through the Micro, Small & Medium Enterprises Development (MSMED) Act, 2006.
Micro Investment less than Rs. 1 crore or Turnover less than Rs. 5 crore
Small Investment less than Rs. 10 crore or Turnover up to Rs. 50 crore
Medium Investment less than Rs. 50 crore or Turnover up to Rs. 250 crore

Cashfree Payments, Global Trade Plaza partners to lift cross-border payment

 Cashfree Payments collaborated with Global Trade Plaza to simplify cross-border payments for
Indian exporters. The partnership aims to facilitate international trade promotion by allowing Indian

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17th October 2023

exporters to collect payments in over 15 foreign currencies. Funds received will be converted into
Indian Rupees and transferred to local Indian bank accounts within 48 hours.
 Exporters will also receive auto-generated foreign inward remittances advice (e-FIRA).
 Cashfree Payments' Global Collections solution will enable exporters to share their account details
with international clients via email, SMS or WhatsApp. Buyers can then make payments using local
systems like Automated Clearing House (ACH) and Single Euro Payments Area (SEPA).
Learn Along:
Cashfree Payments Headquarters: Bengaluru CEO: Akash Sinha

Recent Developments, MoUs, Acquisitions & Launches

Organization Name News Learn Along

Data Patterns Acquire miniature synthetic aperture radar (SAR) capability- Data Patterns
& Data Patterns (India) Limited has entered into a licensing and
Headquarters: Chennai
ISRO transfer of technology (ToT) agreement with IN-SPACe. The
agreement enables Data Patterns to acquire miniature CMD: Srinivasagopalan
synthetic aperture radar (SAR) capability, enhancing its Rangarajan
prowess in remote sensing. This technology serves as the ISRO
precursor to ISRO's forthcoming high-resolution SAR
Headquarters: Bengaluru
satellite, NISAR. IN-SPACe has made the technology available
for ToT to industry players. Chairperson: S. Somanath

Infosys New development centre in Vizag- Infosys has unveiled a Infosys

new development centre in Visakhapatnam, Andhra Pradesh,
Headquarters: Bengaluru
aiming to bring the workplace closer to its employees and
harness local talent. The centre will focus on next-generation CEO: Salil Parekh
technologies such as cloud, artificial intelligence (AI), and
digital to create global opportunities. It is constructed in
accordance with the company's Environment, Social, and
Governance (ESG) commitments, adhering to green building
standards for energy and water efficiency, as well as waste
management.

REC Ltd Development of two units of a thermal power project-REC REC Ltd.
Ltd has signed initial pacts to finance two green hydrogen and
Headquarters: New Delhi
a thermal power project in Odisha. REC has signed an MoU
with Odisha Power Generation Corporation (OPGC) to CMD: Vivek Kumar
finance Rs 9,538 crore for development of two units of a Dewangan
thermal power project in Jharsuguda, Odisha. The total worth
of all MoUs is Rs 40,538 crore.

SEBI and FINANCIAL AWARENESS

Sberbank becomes first Russian bank to register with SEBI as FPI: NSDL

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 According to the National Stock Depository (NSDL), Sberbank of Russia has become the first
Russian bank to register with the SEBI as a foreign portfolio investor (FPI).
 FPIs with category I licence have to follow less lenient beneficial ownership disclosures, can
subscribe to overseas derivative instruments which have Indian stocks as underlying and also enjoy
certain taxation benefits.
 Category I FPI registration is only granted to government or government related foreign investors
or regulated entities such as banks, sovereign wealth funds, investment trusts, pension funds,
asset management companies.
 Sberbank’s registration takes the total number of Russia-based FPIs in India to five, with all others
being non-banks. Till now, Alfa Capital Management, First Asset Management, Igor Noskov, and
Vesvolod Rozanov have been granted FPI registrations.
Learn Along:
SEBI Headquarters: Mumbai Chairman: Madhabi Puri Buch

National Securities Depository Limited Headquarters: Mumbai CEO: Padmaja Chunduru

Foreign portfolio investment (FPI/OPI) refers to investing in the financial assets of a foreign country, such as stocks
or bonds available on an exchange

BimaKavach receives IRDAI's approval for direct insurance broking

 BimaKavach has received a direct insurance broking licence from the Insurance Regulatory and
Development Authority of India (IRDAI), enabling the firm to actively market its customised range of
insurance products for businesses across India.
 The company specialises in digitising and offering instant quotes for cyber and crime insurance,
thereby facilitating online purchases and serviceability. Additionally, it provides tailored solutions and
guidance.
 With a portfolio of 18 insurance products divided into categories such as liability, asset, engineering,
marine, and group health insurance, BimaKavach simplifies the insurance acquisition process for
businesses. Companies can now manage multiple coverage options in one centralised location,
obviating the need for multiple brokers.
Learn Along:
IRDAI Headquarters: Hyderabad Chairperson: Debasish Panda

NSE expands its commodity derivatives segment with 13 new contracts

 The National Stock Exchange (NSE) has launched 13 new commodity derivatives contracts, a move
that will help investors efficiently manage their risk.
 With this launch, NSE offers 28 products in the commodity derivatives segment.
 The 13 new derivatives contracts that have been launched are 'option on futures' on gold 1kg futures,
gold mini futures, silver mini futures, copper futures, zinc futures, gold guinea (8 grams) futures, aluminium
futures, aluminium mini futures, lead futures, lead mini futures, nickel futures, zinc futures and zinc mini
futures.
Learn Along:
NSE Headquarters: Mumbai MD & CEO: Ashish Kumar Chauhan

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NATIONAL
'One Nation, One Student ID': Govt Introduces APAAR Unique Identification For School children

 The central government has begun the process of introducing a new unique identification for
school children that will enable them to digitally store their academic achievements and credit
scores.
 The Automated Permanent Academic Account Registry or APAAR, which will be linked to the
students' Aadhar ID, has been envisaged as a universal mechanism for recording and retrieving data
and documents related to students' progress throughout their academic journey.
 Through this unique ID, the students will be able to store everything from their exam results to add-
on courses to their accomplishments in sports and co-curricular activities in Digilocker, the government's
digital wallet, and use them in the future for higher education and employment.
 The initiative is part of an effort under the National Education Policy (NEP) to bring flexibility to the
education system by allowing students to seamlessly move across institutes and disciplines.
 The government has already introduced APAAR IDs for college students to access the Academic
Bank of Credits (ABC), an online repository of credit scores, and is now bringing it to the school level.

INTERNATIONAL
The UN approved Kenya-led security mission to Haiti

 Recently, the United Nations Security Council (UNSC) has approved the Multinational Security
Mission(MSS), led by Kenya, to restore security, protect critical infrastructure and control spiraling
violence in Haiti.
 Haiti faced escalating gang violence, causing chaos and suffering throughout the country. A group of
gangs known as "G9 and Family" disrupted the main fuel port and the Capital city Port-au-Prince, leading
to a nationwide crisis.
 This has resulted in widespread killings of nearly 2,800 people, between October 2022 and June 2023.
Multinational Security Mission:
 Unlike the Previous UN peacekeeping mission in Haiti that concluded in 2017, this new MSS will not
be operated by the United Nations.
 Kenya has volunteered to lead the force, with support from other countries like the Bahamas,
Jamaica, and Antigua and Barbuda.
 The mission aims to provide operational support to the Haitian National Police, enhance security
conditions, protect vital infrastructure, and facilitate the conduct of elections.
 The force will have the authority to make arrests in coordination with Haitian police.
Learn Along:
About Haiti Capital: Port-au-Prince

STATES
Uttar Pradesh Launches Swachch Tyohar, Swasth Tyohar Campaign For Festivals

 Uttar Pradesh has started a special cleanliness campaign ‘Swachch Tyohar, Swasth Tyohar’ (Clean
Festival, Healthy Festival), especially in and around temples.

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 The urban development and energy departments have called for celebrating Navratri, Dussehra, and
Diwali festivals as ‘Swachch Tyohar, Swasth Tyohar’ by giving the mantra ‘Cleanliness is next to
Godliness’ for maintaining cleanliness in all municipal bodies of the state.
Learn Along:
About Uttar Pradesh
Chief minister: Yogi Adityanath Governor: Anandiben Patel Capital: Lucknow

Jharkhand first state to take steps to ensure minimum wages for workers

 The Jharkhand government is to draft a policy to ensure that those working as food delivery boys
or doing other similar work get the minimum wages.
 Jharkhand is the first state which has taken steps towards bringing people working on contract or
commission for companies like Swiggy-Zomato-Ola-Uber-Rapido under the ambit of minimum wages.
 This committee will study the conditions in which Swiggy-Zomato, Ola-Uber drivers, gig workers,
online delivery boys are working.
 It is estimated that about 12 lakh people are engaged in such work in various districts of Jharkhand.
Learn Along:
About Jharkhand
Chief minister: Hemant Soren Governor: C. P. Radhakrishnan Capital: Ranchi

REPORTS AND INDEXES

Indian economy projected to grow at 6.3% in FY24- FICCI Survey

 According to the latest Economic Outlook Survey released by Federation of Indian Chambers of
Commerce and Industry (FICCI),the economy is expected to grow at 6.3 per cent in the financial
year 2023-24 (FY24)- - with a minimum and maximum growth estimate of 6.0 per cent and 6.6 per
cent, respectively.
 Growth in agriculture and allied activities is expected to slow down to 2.7 per cent in the current
financial year from 4 per cent in FY23. Meanwhile, the industry and services sector are anticipated
to grow by 5.6 per cent and 7.3 per cent, respectively.
 The survey forecast that the course of inflation remains uncertain as CPI-based inflation is expected
to remain at 5.5 per cent in FY24, with a minimum and maximum range of 5.3 per cent and 5.7 per
cent, respectively.
Learn Along:
Federation of Indian Chambers Headquarters: New Delhi President: Subhrakant Panda
of Commerce & Industry

DEFENCE
Ministry of Defence signs contract with Cochin Shipyard Limited for Mid Life Upgrade and Re-
Powering of INS Beas

 The Ministry of Defence signed a contract on October 16, 2023, in New Delhi for Mid Life Upgrade
and Re-Powering of "INS Beas" with Kochi-based M/S Cochin Shipyard Limited (CSL) at an overall
cost of Rs. 313.42 Cr.
 INS Beas is the first of Brahmaputra Class Frigate to be re-powered from Steam to Diesel Propulsion.

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 After completion of Mid Life Upgrade and Re- Powering in 2026, INS Beas will join the active fleet of
the Indian Navy with a modernized weapon suite and upgraded combat capability.
 The project would involve more than 50 MSMEs and would lead to generation of employment for more
than 3500 personnel.
 The project will be a proud flag bearer of Atmanirbhar Bharat in consonance with the Make-in-India
initiative of the Government of India.

EVENTS
PM to inaugurate the Global Maritime India Summit 2023 on 17th October

 Prime Minister Narendra Modi will inaugurate the third edition of the Global Maritime India Summit
(GMIS) 2023 on 17th October, 2023 via video conferencing.
 The summit will be held from 17th to 19th October at MMRDA Grounds in Mumbai.
 During the programme, Prime Minister will unveil 'Amrit Kaal Vision 2047', the long term blueprint for
the Indian maritime blue economy.
 The blueprint outlines strategic initiatives aimed at enhancing port facilities, promoting sustainable
practices, and facilitating international collaboration.
 Prime Minister will inaugurate, dedicate to nation and lay the foundation stone of projects worth
more than Rs 23,000 crore, that are aligned with the 'Amrit Kaal Vision 2047’ for the Indian maritime
blue economy.
 Prime Minister will lay the foundation stone of Tuna Tekra all-weather deep draft terminal, to be built at
a cost of more than Rs. 4,500 crore at Deendayal Port Authority in Gujarat.
 The first Maritime India summit was held in 2016 at Mumbai. The Second Maritime Summit was held
virtually in 2021.

Indian Railways’ PSUs, RITES Ltd and IRCON granted Navratna status

 Ircon International Limited (IRCON) and RITES Ltd(RITES) both Central Public Sector Enterprise
(CPSE) under the Ministry of Railways, have been announced as 15th and 16thNavratna respectively
among CPSEs.
 The Ministry of Finance conferred ‘Navratna’ status on RITES and IRCON.
 Entering its 50th year of incorporation, RITES Ltd is a leading transport infrastructure consultancy
and engineering firm in India.
 It provides services in the diverse sectors of transportation, railways, export of rolling stock,
highways, airports, metros, urban engineering & sustainability, ports & waterways, and energy
management.
 The award of Navratna status will enable RITES to further nurture its brand, compete more effectively
in the global market and pursue new frontiers more aggressively for growth.
 IRCON has widespread operations in several states in India and other countries. The company has
posted a consolidated annual turnover of Rs.10,750crore and Profit after Tax of Rs.765 crore in the
Financial Year 2022-23.

APPOINTMENTS

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17th October 2023

Organization News Learn Along

Name
Manipur High Justice Siddharth Mridul was appointed as the chief justice of Manipur
Court High Court three months after the Supreme Court Collegium
recommendation.

AWARDS AND REWARDS

Ministry of Jal Shakti launches the 5th National Water Awards, 2023

 The Department of Water Resources, River Development and Ganga Rejuvenation (DoWR, RD &
GR), Ministry of Jal Shakti has launched the 5th National Water Awards (NWA), 2023 on the Rashtriya
Puraskar portal.
 Any State, District, Village Panchayat, Urban Local Body, School/College, Institution (other than
school/college), Industry, Civil society, Water User Association or an individual who has done
exemplary work in the field of water conservation and management are eligible to apply.
 For the categories - ‘Best State’ and ‘Best District’, winners will be felicitated with a trophy and
citation.
 In the remaining categories - ‘Best Village Panchayat’, ‘Best Urban Local Body’, ‘Best
School/College’, ‘Best Institution (other than school/college)’, ‘Best Industry’, ‘Best Civil Society’,
‘Best Water User Association’, ‘Best Industry’, and ‘Best Individual for excellence’ winners will be
felicitated with cash prize along with trophy and citation.
 The cash prizes for the 1st, 2nd, and 3rd winners are Rs.2 lakhs, Rs.1.5 lakhs, and Rs.1 lakh,
respectively.

IMPORTANT DAYS

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OBITUARIES
Name of Person Field Points to Remember
P.V. Gangadharan Malayalam film Noted Malayalam film producer and director of Mathrubhumi
producer group of publications P.V. Gangadharan passed away in
Kozhikode on October 13. An active member of the Kerala
Pradesh Congress Committee (KPCC), he had contested in the
Kerala Legislative Assembly elections from the Kozhikode North
constituency in 2011.

Answer key to Memory check

Q:1- D Q:2- E Q:3- C Q:4- B Q:5- A

Sources of the News:

The Hindu,The Indian Express,Business Standard, The Financial Express ,PIB, etc.

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