Daily Current Affairs October 14 2022

 

CURRENT AFFAIRS: IMPORTANT DAYS

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 in 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.

CURRENT AFFAIRS: NATIONAL NEWS

The government launched Tele Mental Health Assistance and the Networking Across States:

• The government launched Tele Mental Health Assistance and Networking Across States (Tele-MANAS) initiative.
• On the occasion of World Mental Health Day, the government has launched a 24×7 tele-mental health service Tele Mental Health Assistance and Networking Across States (Tele-MANAS) initiative.
• It has been launched for 20 states and UTs and will be further expanded to other parts of the country.
• It aims to provide free tele-mental health services round the clock to people all over the country, especially the remote and deprived areas.
• This service can be used by calling the helpline number 14416.
• The program comprises a network of 23 tele-mental health centers of excellence.
• NIMHANS will be the nodal center and the International Institute of Information Technology-Bangalore (IIITB) will provide technical support.
• The Central Government aims to establish at least one Tele-Manas Cell in each State/UT.

Union Environment Minister attended the Sustainable Mountain Development Summit-XI:

• Union Environment Minister attended the inaugural session of the Sustainable Mountain Development Summit-XI (SMDS-XI) at Leh.
• Sustainable Mountain Development Summit-XI is being organized from 10-12 October 2022.
• The theme for SMDS-XI is ‘Harnessing tourism for sustainable mountain development
• The Sustainable Mountain Development Summit (SMDS) is an annual event of the Indian Himalayan Region (IHR).
• The summit was focused on reducing the negative impacts of tourism and using its positive contribution to building climate and socio-ecological strength and sustainability.
• As part of the SMDS, the Mountain Legislators’ Meet (MLM) and the Indian Himalayan Youth Summit were also organized.

Office of the Development Commissioner launched the Indian handicraft portal:

• The office of the Development Commissioner (Handicrafts) has launched the Indian handicraft portal (http://indian.handicrafts.gov.in).
• Eligible artisans can use this portal to submit online applications for marketing events.
• Every year, around 200 domestic marketing events are organized in different parts of the country to support artisans in selling their produce.
• The artisans can log in to the portal through the pehchan card number, followed by authentication with an OTP.
• The online process will provide equal, fair, and transparent opportunities to all artisans.
• The process of receipt of applications, selection, and allotment for all the marketing events will be made through this portal only.

Food regulator FSSAI has made it mandatory for foreign food manufacturing facilities:

• Food regulator FSSAI has made it mandatory for foreign food manufacturing facilities to register with it for exporting products such as meat, milk, and infant foods to India.
• This will be effective from February 1, 2023.
• It has been decided that registrations of foreign food manufacturing facilities, falling under five food categories, who are intended to export these products shall be mandatory.
• These categories are milk and milk products; meat and meat products, including poultry, fish and their products; egg powder; infant food; and nutraceuticals.

About FSSAI:

• Food Safety and Standards Authority of India is a statutory body established under the Ministry of Health & Family Welfare, Government of India.
• The FSSAI has been established under the Food Safety and Standards Act, of 2006, which is a consolidating statute related to food safety and regulation in India.
• Founded: 5 September 2008, Founded: 5 September 2008, Parent agency: Ministry of Health and Family Welfare, Government of India.

PM lays the foundation stone of various healthcare facilities in Civil Hospital Ahmedabad:

• PM Modi recently lays the foundation stone of various healthcare facilities in Civil Hospital Asarwa, Ahmedabad.
• The new Civil Hospital Asarwa will be the first government hospital in the country where state-of-the-art technology like Cyber-Knife will be available.
• After dedicating and laying the foundation stone of various healthcare facilities worth 1275 crore rupees in Civil Hospital Asarwa in Ahmedabad
• The CyberKnife System is a non-invasive treatment for cancerous and non-cancerous tumours and other conditions where radiation therapy is indicated.
• It is used to treat conditions throughout the body, including the prostate, lung, brain, spine, head and neck, liver, pancreas, and kidney.
• It can be an alternative to surgery or for patients who have inoperable or surgically complex tumors.
• It offers several advantages to patients, including rapid relief from pain and other symptoms.

Nitin Gadkari launched India’s first flex-fuel car, “Toyota Corolla Altis”:

• The Union Minister of Road Transport and Highways Nitin Gadkari launched India’s first flex-fuel car, “Toyota Corolla Altis”.
• The launch event was held in Delhi.
• In an attempt to further explore the alternatives to combustion-engined vehicles, recently Toyota Kirloskar Motor launched a pilot project on Flexi-Fuel Strong Hybrid Electric Vehicle Technology in Delhi.
• Under this new project, at the launch, the Indo-Japanese automaker unveiled a Toyota Corolla Altis FFV-SHEV, imported from Toyota Brazil.
• The Indian government has started the production of flex-fuel vehicles called E85, E90, and E95 according to the ratio of petrol to ethanol.
• The pilot project aims to check the feasibility of hybrid vehicles in India that can use ethanol-powered flex-fuel vehicles to decrease pollution and increase the use of ethanol in electric-hybrid vehicles to reduce the dependency on diesel and petrol.
• Flex fuel cars can run on flexible fuels including ethanol, petrol, or a blend of petrol and ethanol.
• Toyota Corolla Altis is a first-of-its-kind pilot project vehicle that is based on Flex-Fuel Strong Hybrid Electric Vehicles (FFV-SHEV) technology.
• Toyota Kirloskar Motor Private Limited is an Indian joint venture between Toyota Motor Corporation and Kirloskar Group, for the manufacture and sales of Toyota cars in India. The headquarters are located in Bidadi, Karnataka, near Bengaluru.

CURRENT AFFAIRS: INTERNATIONAL NEWS

Russian President Putin recognizes independence for 2 more Ukraine regions

• Russian President Mr. Vladimir Putin has recognized the independence of Ukraine’s Zaporizhzhia and Kherson regions located in southern Ukraine 
• He took similar steps in February 2022 regarding Luhansk and Donetsk and earlier for Crimea.
• It will annex four occupied regions of Ukraine at a grand ceremony in the Kremlin, Russia.

About Russia :

• President: Vladimir Putin
• Prime Minister: Mikhail Mishustin
• Capital: Moscow
• Currency: Russian ruble

Prime Minister Shri Narendra Modi addresses UN World Geospatial International Congress

• Prime Minister Shri Narendra Modi addressed the 2nd United Nations World Geospatial International Congress.
• The UN World Geospatial International Congress was inaugurated by Union Science and Technology Minister Dr. Jitendra Singh in  Hyderabad.
• The theme of the 2nd UN World Geospatial International Congress ‘Geo-Enabling the Global Village: No one should be left behind.

Key Highlights :

• The United Nations and the Departments of Science and Technology and Space are organizing the 5-day congress.
• During the 5-day Congress, challenges and plans for making better use of technology for people will be discussed.
• It has brought policymakers, scientists, start-ups, and NGOs working on geospatial information on one platform.
• Union Minister Dr. Jitendra Singh informed that the Geospatial economy will cross the mark of 63,000 crore rupees by 2025 at a growth rate of8%.
• Jitendra Singh has inaugurated an exhibition where the National Remote Sensing Agency,  ISRO, and startups displayed their products.
• The United Nations Economic and Social Council (ECOSOC) created the UN Committee of Experts on Global Geospatial  Information Management (UN-GGIM) in 2011. 
• Under the SWAMITVA (Survey of Villages and Mapping with Improvised Technology in Village Areas) scheme, India is using drones to map properties in villages and for the first-time people in rural areas have clear evidence of ownership.

World’s largest drone fund to invest up to US$ 40 million in UAV ecosystem in India

• The US$ 170 million Drone Fund (DF), one of the largest venture capital funds located in Japan that specializes in supporting the unmanned aerial vehicle (UAV) ecosystem, intends to invest up to US$ 40 million in Indian companies operating in the sector.

Objective :

• To invest in agro drones to enhance crop pages using approaches that science can help facilitate.
• Currently, Drone Fund has a manufacturing unit in Tamil Nadu (TN).
• Japan’s Largest drone manufacturer Autonomous Control Systems Laboratory Ltd (ACSL) has partnered with an Indian Company Aerodyne India.

Note :

• DF co-founder and managing associate: Soki Ohmae
• MD of Aerodyne India: Arjun Aggarwal

CURRENT AFFAIRS: BANKING & FINANCE

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).
• 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.
• 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

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 30,000 to Rs. 150,000, with an average ticket size of Rs. 80,000.

As part of its Surabhi platform, Dvara 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

CURRENT AFFAIRS: ACQUISITIONS & MERGERS

MCA approves demerger of NMDC Steel from NMDC

• The Ministry of Corporate Affairs (MCA) has approved the demerger of NMDC Steel Limited, a 3-million-tone steel plant at Nagarnar in Chhattisgarh, from NMDC Ltd with an investment outlay of over Rs 20,000 crore.
• The Company is in the process of complying with the requirements as envisaged in the MCA Order and the observation letters received from Bombay, Calcutta, and National Stock Exchanges.

About MCA :

• Cabinet Minister : Nirmala Sitharaman
• Minister of State: Rao Inderjit Singh

About NMDC :

• Founded: 1958
• Headquarters: Hyderabad, Telangana
• Chairman & MD: Sumit Deb
• NMDC Limited, (formerly National Mineral Development Corporation) is under the ownership of the Ministry of Steel, Government of India.

LIC reduces stake in United Nilgiri Tea

• Life Insurance Corporation of India (LIC) has reduced its stake in United Nilgiri Tea Estates Company Ltd from 4.81 lakh shares to 3.80 lakh shares.
• The LIC’s shareholding has decreased from 9.632% to 7.613% of the paid-up capital of the company.
• LIC offered these shares at a mean value of ₹310.72 between August 12 and October 7, 2022, the insurance coverage mainly informed the exchanges.

About LIC :

• Founded: 1 September 1956
• Headquarters: Mumbai, Maharashtra, India
• Chairperson : M R Kumar
• Managing Director: B C Patnaik, Smt. Ipe Mini, Siddharth Mohanty, Rajkumar
• LIC is an Indian central public sector undertaking under the ownership of the Ministry of Finance, Government of India.

CURRENT AFFAIRS: AWARDS AND HONOURS

Wazahat Husain has won an international award for Traditional, Alternative, and Complementary Medicine:

• Professor Wazahat Husain, a leading academic from the Aligarh Muslim University has won an international award for Traditional, Alternative, and Complementary Medicine.
• Professor Husain a retired chairman of the Department of Botany at the Aligarh Muslim University(AMU) has received the second Sheikh Zayed International Award in an event arranged by the Zayed Charitable and Humanitarian Foundation.
• Wazahat Husain has been honored with Lifetime Achievement Awards twice, once jointly by the University Grants Commission (UGC) and the AYUSH ministry and then by the Wildlife Institute of India and the Department of Wildlife Sciences, AMU.
• The award aims to give recognition to renowned academics and scientists of Traditional Complementary and Alternative Medicine (TCAM) globally.
• It also provides significance to TCAM physicians from the UAE, for enhancing TCAM knowledge and practices, and contributing to improving the quality of life for humanity.

CURRENT AFFAIRS: MOUS AND AGREEMENT

NMDC and RailTel Corporation of India have signed MoU for ICT and Digital Solutions:

• NMDC and RailTel Corporation of India have signed MoU for ICT and Digital Solutions.
• Shri H Sundaram Prabhu, GM, NMDC, and Shri Manohar Raja, Executive Director, RailTel signed the MoU at NMDC’s headquarters in Hyderabad.
• RailTel will provide Consultancy, Project Management, and Execution services.
• This MoU builds on the partnership that NMDC already has with the National Railway Telecom.

About NMDC:

• National Mineral Development Corporation (NMDC) is the country’s largest Iron Ore producer.
• It is a Central Public Sector Enterprise under the Ministry of Steel.
• It is headquartered in Hyderabad. Sumit Deb is its CMD.

About RailTel Corporation of India:

• RailTel Corporation of India Limited is an Indian public sector enterprise that was founded in September 2000.
• It is a Mini Ratna (Category-I) PSU.
• It is a wholly-owned subsidiary of the Indian Railways.
• It is headquartered in New Delhi.
• Sanjai Kumar is its CMD.

CURRENT AFFAIRS: RANKING AND INDEX

World Economic Forum released the “Education 4.0 India” Report:

• World Economic Forum released the “Education 4.0 India” Report.
• As per the report, India has more than 60 million secondary and higher secondary students.
• This report has been prepared by World Economic Forum in collaboration with the United Nations Children’s Education Fund and YuWaah (Generation Unlimited India).
• About 85% of the schools haven’t implemented vocational courses as part of their curriculum.
• As per the report, presently school pedagogy is being designed with no reference to industry needs.
• There are no formal channels for industry participation in curriculum design.
• The report highlighted that School-to-work (S2W) transition process still faces many problems such as a lack of trainers, inadequate resources and infrastructure, and poor linkages between localized skill gaps and vocational courses.
• With conducive policies and initiatives of the Government of India, such as the National Education Policy (NEP) 2020, and over 5000 EdTech start-ups across the learning lifecycle, the current education environment is potent for digital transformation.
• The National Achievement Survey (NAS) of 2021 reported an average learning level of 59% in grade 3, 49% in grade 5, 42% in grade 8, and 36% in grade 10.

About WEF:

• Jeremy Jurgens, Managing Director of, the World Economic Forum.
• The World Economic Forum is an international non-governmental and lobbying organization based in Cologny, canton of Geneva, Switzerland.
• It was founded on 24 January 1971 by German engineer and economist Klaus Schwab.

World University Rankings 2023: IISc Bengaluru In Top 300

• The Times Higher Education World University Rankings 2023 has been released.
• A total of 75 higher education institutions got listed in the ranking this year.
• The Indian Institute of Science (IISc) has improved its position in the Times Higher Education World University Rankings 2023 and was the only Indian university in the top 300 list, even as several IITs boycotted it for the third consecutive year raising doubts over its parameters and transparency
• A total of 75 Indian institutes were part of the rankings in 2023 as compared to 56 in 2020 and just 31 in 2017.
• Seven Indian Institutes of Technology (IITs)- IIT Ropar, IIT Indore, IIT Gandhinagar, IIT Patna, IIT Bhubaneswar, IIT Guwahati, and IIT Mandi were also able to secure a position in the 500- 1200 band.
• As per the Times Higher Education World University Rankings 2023, IIT Ropar featured in the 501-600 band.
• Meanwhile, IIT Indore features in the 601- 800 band. IIT Gandhinagar also featured in the 801- 1000 band. IIT Patna featured in 801-1000, IIT Bhubaneswar in 1001-1200 band, IIT Guwahati- in 1001-1200 band, and IIT Mandi- in 1001-1200 band
• Central Universities such as Jawaharlal Nehru University (JNU), Jamia Millia Islamia, Jamia Hamdard University, Benaras Hindu University, Jadavpur University, and Aligarh Muslim University also featured in THE World University Rankings- 2023.
• Jamia Millia Islamia moved to the 501-600 ranking band this year from the 601- 800 band last year.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Chad’s Prime Minister Mr. Albert Pahimi Padacke resigns

• Chad’s Prime Minister Mr. Albert Pahimi Padacke has resigned to pave the way for a new government after the Central African country decided to push back elections by 2 years.

About Mr Albert Pahimi Padacke :

• Padacké was born on 15 November 1966,  in Gouin, French Equatorial Africa (now Chad)
• He is a Chadian politician who belonged to the National Rally for Democracy.
• He served as Minister of Agriculture until he was appointed as Minister of Justice in the government on March 4, 2007.
• Previously he served as prime minister from 2016 to 2018 under former president Idriss Deby.
• He was the last person to have occupied the post before the abolition of the institution in 2018.

About Chad :

• President : Mahamat Idriss Deby Itno
• Capital : N’Djamena
• Currency : Central African CFA franc

CURRENT AFFAIRS: DEFENCE NEWS

Indian Navy to join Exercise Malabar in Japan next month

• Japan will host the 2022 edition of the Malabar naval exercise consisting of India, Australia, Japan, and the S. in the second week of November 2022.
• The Indian Navy will also participate in the International Fleet Review (IFR) being hosted in the first week of November to commemorate the 70th anniversary of the Japanese Maritime Self-Defence Force (JMSDF). 
• This is the latest in a series of bilateral and multilateral exercises in which the Indian armed forces have taken part recently. ∙
• The bilateral India-U.S. Army exercise “Yudh Abhyas” is scheduled to take place at the end of October in Uttarakhand’s high-altitude regions, around 100 km (aerial distance) from the Line of Actual Control (LAC).
• According to a statement by the Royal Brunei Navy, the IFR to be held in the first week of November is being conducted during the 18th Western Pacific Naval Symposium (WPNS) ‘strategic discussion’ and ‘plenary session’ being hosted by Japan from November 5 to 10, 2022. 

About the Malabar Exercise :

• Malabar is a multilateral naval exercise that was first conducted in 1992.
• It started as a bilateral training session for the Indian and American navies.
• The exercise has been carried out annually since 2002.
• Australia and Japan participated in the exercise for the first time in 2007, and since 2014, the US, India, and Japan have all taken part annually.
• In 2020, Australia joined Ex Malabar as a regular member

About the Indian Navy :

• Founded: 26 January 1950
• Headquarters: New Delhi, Delhi, India
• Chief of Defence Staff: General Anil Chauhan
• Chief of the Naval Staff:  Admiral R. Hari Kumar

About Japan :

• Prime Minister : Fumio Kishida
• Capital: Tokyo
• Currency: Japanese yen

Daily CA on October 14:

• World Standards Day is observed annually on the 14th of October 2022.
• World Egg Day is observed annually on the second Friday in October.
• The government launched Tele Mental Health Assistance and Networking Across States (Tele-MANAS) initiative.
• Union Environment Minister attended the inaugural session of the Sustainable Mountain Development Summit-XI (SMDS-XI) at Leh.
• The office of the Development Commissioner (Handicrafts) has launched the Indian handicraft portal (http://indian.handicrafts.gov.in).
• Food regulator FSSAI has made it mandatory for foreign food manufacturing facilities to register with it for exporting products such as meat, milk, and infant foods to India.
• PM Modi recently lays the foundation stone of various healthcare facilities in Civil Hospital Asarwa, Ahmedabad
• The Union Minister of Road Transport and Highways Nitin Gadkari launched India’s first flex-fuel car, “Toyota Corolla Altis”.
• Professor Wazahat Husain, a leading academic from the Aligarh Muslim University has won an international award for Traditional, Alternative, and Complementary Medicine.
• NMDC and RailTel Corporation of India have signed MoU for ICT and Digital Solutions.
• World Economic Forum released the “Education 4.0 India” Report.
• The Times Higher Education World University Rankings 2023 has been released.
• Russian President Mr. Vladimir Putin has recognized the independence of Ukraine’s Zaporizhzhia and Kherson regions located in southern Ukraine 
• Prime Minister Shri Narendra Modi addressed the 2nd United Nations World Geospatial International Congress. 
• The US$ 170 million Drone Fund (DF), one of the largest venture capital funds located in Japan that specializes in supporting the unmanned aerial vehicle (UAV) ecosystem, intends to invest up to US$ 40 million in Indian companies operating in the sector.
• 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.
• 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 State Bank of India (SBI) unveiled its next-gen contact center service to deliver a superior customer experience.
• 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.
• The Ministry of Corporate Affairs (MCA) has approved the demerger of NMDC Steel Limited, a 3-million-tone steel plant at Nagarnar in Chhattisgarh, from NMDC Ltd with an investment outlay of over Rs 20,000 crore.
• Life Insurance Corporation of India (LIC) has reduced its stake in United Nilgiri Tea Estates Company Ltd from81 lakh shares to 3.80 lakh shares.
• Chad’s Prime Minister Mr. Albert Pahimi Padacke has resigned to pave the way for a new government after the Central African country decided to push back elections by 2 years.
• Japan will host the 2022 edition of the Malabar naval exercise consisting of India, Australia, Japan, and the S. in the second week of November 2022.