Daily Current Affairs October 22 2022

CURRENT AFFAIRS: IMPORTANT DAYS

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 in 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.

CURRENT AFFAIRS: NATIONAL NEWS

Center to Launch $500 Million Accelerator Program to Strengthen Agri Startups:

• Union Agriculture Minister Narendra Singh Tomar announced that the national government will start a Rs 500 crore accelerator program to help agro enterprises with their profitable ideas.
• On the second day of PM Kisan Samman Sammelan, Tomar announced a slew of major policy announcements aimed at agricultural entrepreneurs.
• Narendra Singh Tomar announced that an executive committee comprised of relevant organizations would be formed.
• Under the chairmanship of the agriculture secretary, this will comprise the Department of Agriculture Research and Education (DARE), DPIIT, agricultural incubators and knowledge partners, agricultural universities, research institutes, top investors, and other stakeholders.
• A website will also be created to gather a database of all farm startups and track their growth.

Indian Railways has announced the closure of COFMOW:

• The Ministry of Railways has announced the closing of New Delhi’s Central Organization for Modernization of Workshops (COFMOW).
• It will go into effect on December 1, 2022.
• With the advice of the Principal Economic Advisor and the Ministry of Finance, the Railway Board confirmed the dissolution of the four-decade-old organization that contributed significantly to the modernization of the workshop across the railway networks.
• COFMOW was forbidden from floating or opening bids immediately following its closure.
• All sanctioned works for which a tender has not been issued.
• Workers will be assigned to the appropriate Zonal Railways or Production Unit.
• All non-gazetted stations would be surrendered, and the person would be released/repatriated/re-deployed elsewhere.
• The organization’s infrastructure and buildings will be handed over to the Railway Board by November 30th, 2022.

CURRENT AFFAIRS: INTERNATIONAL NEWS

IFC Launches Financing Platform to Respond to Global Food Crisis

• The International Finance Corporation (IFC), World Bank’s private sector investment arm, has launched a new, $6 billion financing facility to strengthen the private sector’s ability to respond to the crisis and help support food production.

Aim :

• To facilitate the trade of food commodities, delivery of inputs to farmers, supporting efficient production in major origins, including Ukraine, and effective distribution of food products in destination countries

Key Highlights :

• It will also focus on long-term actions to improve the resilience of the global food system and lessen its climate and ecological footprint.
• The long-term actions include investing in increasing efficient crop production, improving access to fertilizers, greening fertilizer production and use, reducing crop loss and food waste, improving supply chain efficiency, and mitigating infrastructure bottlenecks.
• It will leverage IFC’s sectoral expertise in agribusiness, manufacturing, infrastructure, and technology, as well as the financial sector and trade finance.
• The platform will supplement the World Bank’s commitment of US$30 billion in response to the food crisis.

About IFC :

• Established: July 20, 1956
• Headquarters: Washington, D.C., United States
• MD & CEO: Makhtar Diop
• The IFC is a member of the World Bank Group.
• It is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries.

EU approves adoption of world’s first single charger rule

• The European Parliament has approved a new rule to introduce a single charging port for electronic gadgets (mobile phones, tablets, and cameras) by 2024 in the European Union (EU).

Aim :

• To minimize e-waste and empower customers to make more sustainable choices.
• From 2026, the rules will be expanded to include laptops.

Key Highlights :

• The new rules allow customers to choose between two chargers – one with and one without USB-C chargers while purchasing a handheld device.
• Under the first phase of the law, which will be implemented in late 2024, all mobile phones, tablets, and cameras sold in the EU have to be equipped with a USB Type-C charging port.
• It is expected to impact smartphone manufacturers such as Apple since these rules will force changes in the charging port of iPhones and other devices for users in the EU
• The USB Type-C ports can charge up to 100 Watts, transfer data up to 40 GB per second, and link to external displays

Benefits :

• It will also simplify the life of Europeans, bring down costs and reduce the number of chargers in the market.
• It can save at least 200 million euros each year and significantly bring down electronic waste every year.

Note :

• Currently, about 11,000 tonnes of e-waste is generated by disposed or unused charges in the European Union each year.

About EU :

• President of the European Council: Charles Michel
• President of the European Commission: Ursula von der Leyen
• Headquarters of European Commission: Brussels, Belgium
• Membership: 27 members
• Official Languages: 24 languages

CURRENT AFFAIRS: STATE NEWS

CII & IOC launch project ‘Vayu Amrit’ in Sangrur 

• 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

• 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

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 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. 

Naukri.com :

• The Directorate of Employment and Craftsmen Training’s MoU with 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

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. 
• 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 :

• 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.

CURRENT AFFAIRS: BANKING & FINANCE

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

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 :

• 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 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

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.
• The center will also help the company to build sustainable and efficient infrastructure to further seamlessly scale its operations across the country.
• The 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

CURRENT AFFAIRS: BUSINESS NEWS

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.

CURRENT AFFAIRS: MOUS AND AGREEMENT

IRCTC and CASHe have partnered to provide a “travel now, pay later” option:

• The Indian Railways Catering and Tourism Corporation (IRCTC) and AI-driven financial wellness platform CASHe have teamed up to offer a “travel now pay later” (TNPL) payment option on IRCTC Rail Connect, the company’s travel app.
• This would allow passengers of Indian Railways to promptly reserve their rail tickets and pay for them later in EMIs that are affordable and last between three and six months.
• Millions of Indian Railway travelers will now find it simpler and more convenient to purchase train tickets on the IRCTC travel app with the addition of the CASHe payment option.
• Passengers purchasing reserved and tatkal tickets through the IRCTC travel app will have the option to pay with EMI.
• All consumers are instantly qualified to use the TNPL facility without any documentation when using CASHe’s TNPL EMI payment option.
• Over 90 million people have downloaded the IRCTC travel app, which facilitates more than 1.5 million daily reservations for train tickets.
• This collaboration will also greatly help CASHe reach millions of IRCTC customers and give them a simple choice to travel right away and pay for their train tickets in manageable EMIs down the road.

Google and Assam Government collaborate to power digital learning:

• Google signed a Memorandum of Understanding (MOU) with the Assam government to support and accelerate the State’s goal of fostering digital growth and development.
• As part of this new initiative, Google will collaborate with the Skill, Employment & Entrepreneurship Department (SEED) of the Assam Government to strengthen school digitization efforts with digital tools and solutions to support teaching and learning as well as to spread the “Be Internet Awesome” program’s lessons on the fundamentals of online safety and digital citizenship to school children.
• Google will collaborate with the Assam Skill Development Mission to award Google Career Certificates to young people in Assam in addition to granting the scholarship.

About Google:

• CEO: Sundar Pichai
• Founded: 4 September 1998
• Headquarters: California, United States
• Founders: Larry Page, Sergey Brin

Drones might enhance India’s GDP by $100 billion and create thousands of jobs:

• In a recent analysis, the World Economic Forum (WEF) claimed that putting drones at the forefront of a technology-driven transformation of Indian agriculture may boost the country’s GDP by 1–1.5% and generate at least five lakh new jobs in the coming years.
• Drone-based technology has the potential to revolutionize Indian agriculture, according to a paper published here by the WEF’s Centre for the Fourth Industrial Revolution in India in collaboration with the Adani Group.
• The WEF paper outlines drone use scenarios that integrate military and commercial technology and are made practical by local stakeholder coordination, digital adoption, analytics, and financing.
• It also provides a framework for the development of scalable pilot projects that can be implemented by various governments.

CURRENT AFFAIRS: RANKING AND INDEX

India ranks third on the list of centi millionaires and will surpass China by 2032:

• India ranks third in the first-ever global survey on the rise of centi-millionaires – those with assets of more than Rs 830 crore ($100 million) — despite having high levels of poverty, inflation, and hunger.
• India possesses 1,132 of the 25,490 centi-millionaires in the globe, outpacing Switzerland, the UK, and Russia in a rapidly expanding and powerful class of ultra-wealthy IT titans, financiers, multinational CEOs, and heirs.
• With an expected 80% growth rate in people worth over $100 million by 2032, India will surpass China (number 2) as the fastest-growing market for millionaires, according to a report published by worldwide investment migration advisory firm Henley & Partners.

Overall Ranking:

• Despite making up only 4% of the world’s population, the United States, which comes in first place, is home to 38% (9,730) of the 25,490 centi-millionaires in the globe.
• Large growing markets China and India, with 2,021 and 1,132 centi-millionaires, respectively, are in second and third place, closely behind it.
• With 968 cent millionaires, the UK is in fourth place, closely followed by Germany in fifth (with 966).
• The remaining top 10 nations for centi-millionaires are Switzerland (808), Japan (765), Canada (541), Australia (463), and lastly Russia (435).

UIDAI topped the Grievance Redressal Index for the second month in a row:

• The Unique Identification Authority of India (UIDAI), which oversees Aadhaar, has once again topped the Department of Administrative Reforms and Public Grievances (DARPG) September rankings report for addressing the most public grievances among all government ministries and departments.
• UIDAI has topped the standings for the second month in a row.
• UIDAI has been a top performer in resolving public grievances received through the Centralized Public Grievance Redress and Monitoring System (CPGRAMS), and it is making ongoing efforts to improve the Aadhaar holder’s experience.
• UIDAI has a robust grievance redressal ecosystem in place, which includes the UIDAI headquarters, regional offices, a technology center, an engaged contact center, and partners.
• A well-coordinated mechanism enables UIDAI to resolve around 92% of CRM grievances within a week.

About UIDAI

• CEO: Dr. Saurabh Garg
• Founded: 28 January 2009
• Headquarters: New Delhi.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

ISRO named Dr. Sankarasubramanian as the Principal Scientist of the Aditya-L1 mission

• Indian Space Research Organisation (ISRO) has designated senior Solar Scientist, Dr. Sankarasubramanian K, as the Principal Scientist of the ‘Aditya-L1’ Mission.

About Dr Sankarasubramanian K :

• Sankarasubramanian K. is a senior solar scientist at the U R Rao Satellite Centre (URSC), Bengaluru.
• He is also the Principal Investigator for one of the X-ray payloads onboard Aditya-L1.
• He has contributed to AstroSat, Chandrayaan-1, and Chandrayaan-2 missions of ISRO in several capacities.
• He also heads the Aditya-L1 Science Working Group, which has members from several institutes in India engaged in solar science research.
• Currently, he is heading the Space Astronomy Group (SAG) of URSC. 

About SAG :

• SAG is involved in developing scientific payloads for the upcoming missions of Aditya-L1, XPoSat, and science payload onboard the Chandrayaan-3 propulsion module.

About ‘Aditya-L1’ Mission :

• Aditya-L1 is the first observatory-class space-based solar mission from India & it is planned to be launched in February 2023.
• The Mission duration is 5 years.
• It carries 7 payloads to observe the photosphere, chromosphere, and the outermost layers of the sun (the corona) using electromagnetic and particle detectors.
• The spacecraft will be placed in a halo orbit around the first Lagrange point, L1, of the Sun-Earth system.
• A satellite around the L1 point has the major advantage of continuously viewing the Sun without occultation/eclipses.

About ISRO :

• Established: 15 August 1969
• Headquarters: Bangalore, Karnataka
• Chairman: Sreedhara Panicker Somanath
• ISRO is the national space agency of India, operating under the Department of Space (DOS).

Dr. K.P Ashwini Becomes 1st Indian to Be Appointed Independent Expert on Racism by UNHRC

• The UN Human Rights Council (UNHRC) has appointed K P Ashwini as a Special Rapporteur (SR) on contemporary forms of racism, racial discrimination, xenophobia, and related intolerance of the United Nations Human Rights Council (UNHRC).
• She will take over as the UNHCR special rapporteur in Geneva on November 1, 2022, for 3 years. 
• She is the first Asian as well as the first Indian to be appointed for the post.

About Dr. K P Ashwini :

• K P Ashwini hails from Kasaba Kurubarahalli village, Kolar district of Karnataka, India.
• She will work on apartheid policy at the global level, racial discrimination, xenophobia, and intolerance independently.
• She has conducted a special study on the effects of mining on the tribals of Odisha and Chattisgarh with Amnesty International.

About SR :

• Special rapporteur (or Independent Expert) are title given to independent human rights experts whose expertise is called upon by the United Nations to report or advise on human rights from a thematic or country-specific perspective.

About UNHRC :

• Founded: 15 March 2006
• Headquarters: Geneva, Switzerland
• President : Federico Villegas
• Membership: 47 members
• The UNHRC is a United Nations body whose mission is to promote and protect human rights around the world.

Mr. Pradeep Singh Kharola was appointed as CMD of the India Trade Promotion Organization

• Former Civil Aviation Secretary Mr. Pradeep Singh Kharola was appointed as the Chairman and Managing Director (CMD) of the India Trade Promotion Organization (ITPO) for two years.

About Mr. Pradeep Singh Kharola :

• Kharola is a 1985 batch Indian Administrative Service (IAS) officer of the Karnataka cadre.
• He has also served as CMD Air India and Secretary, of Civil Aviation.
• He was appointed as the Chairman of the National Recruitment Agency (NRA) in March 2022. 

Recent News :

• In Sep 2022, The Appointments Committee of the Cabinet (ACC) appointed B V R Subrahmanyam as the ITPO chief for two years after his retirement as the Commerce Secretary on September 30.

About ITPO :

• Founded: 1 April 1977
• Headquarters: New Delhi, Delhi, India
• ITPO is the nodal agency of the Government of India under the aegis of the Ministry of Commerce and Industry (India) for promoting the country’s external trade.

Ministry of Corporate Affairs nominates two directors on the board of IL&FS

• The Ministry of Corporate Affairs (MCA) has nominated two directors Mr. G Mahalingam and Deepak Mohanty to the board of Infrastructure Leasing & Financial Services (IL&FS).
• The appointment of these two directors has been approved by both the MCA and National Company Law Tribunal.
• With this induction, the existing board of IL&FS now comprises 6 members namely

1. Mr CS Rajan (non-executive chairman)
2. Nand Kishore (managing director)
3. Malini Shankar (director)
4. N Srinivasan (director)
5. Deepak Mohanty (director)
6. Mr G Mahalingam (director).

Key Highlights :

• Mahalingam has served as executive director of the Reserve Bank of India (RBI) and a whole-time member of the Securities and Exchange Board of India (SEBI).
• Mohanty has served as executive director of RBI and a whole-time member of the Pension Funds Regulatory and Development Authority (PFRDA).

About MCA :

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

CURRENT AFFAIRS: ACQUISITIONS & MERGERS

LIC increases its stake in Dr. Reddy’s Laboratories to 7.7% from 5.65%

• Life Insurance Corporation of India (LIC) has increased its stake to 7.7% from 5.65% in an Indian multinational pharmaceutical company Dr. Reddy’s Laboratories Ltd.
• Between June 15, 2022, and September 30, 2022, LIC purchased 33,86,486 shares of DRL, aggregating a 2.034% stake from the open market.

About LIC :

• Founded: 1 September 1956
• Headquarters: Mumbai, Maharashtra, India
• Chairperson : Mangalam Ramasubramanian Kumar
• LIC  is an Indian central public sector undertaking under the ownership of the Ministry of Finance, GoI.

About Dr. Reddy’s Laboratories Ltd :

• Founded: 1984
• Headquarters: Hyderabad; Telangana, India
• Chairman: Kallam Satish Reddy
• CEO: Erez Israeli

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

Iran launched a test ‘tug’ into suborbital space

• The Iranian government has launched a space tug capable of shifting satellites between orbits.
• The Saman test spacecraft was built by Iran’s Space Research Center and launched by the Defense Ministry of Iran.
• Iran unveiled the Saman test craft in 2017.
• In June 2022 Tehran (The capital of Iran) launched a solid-fuel rocket into space
• In August 2022, a Russian rocket successfully launched an Iranian Khayyam satellite into orbit & it’s named after Omar Khayyam, a Persian scientist who lived in the 11th and 12th centuries.

About space tug :

• A space tug is a type of spacecraft used to transfer spaceborne cargo from one orbit to another orbit with different energy characteristics
• Also, It can transfer a satellite from one orbit to another.
• It is often used to refer to reusable, space-based vehicles.

About Iran :

• President: Ebrahim Raisi
• Capital: Tehran
• Currency: Iranian rial

Google to build its first cloud region in Greece

• Alphabet Inc’s Google will set up its first cloud region in Greece.

Aim :

• To give a boost to the country’s efforts to become a world cloud computing hub
• It was announced by Adaire Fox-Martin, president of Google Cloud International at an event in Athens, Greece.
• A cloud region usually is based around a cluster of data centers.
• The deal is estimated to contribute some2 billion euros ($2.13 billion) to Greece’s economic output and create some 20,000 jobs by 2030.
• The investment would enable organizations to better use their data, help improve low latency and ensure users’ security in the face of cybersecurity threats.
• Amazon Inc’s cloud computing division also opened its first office in Greece in 2021.

About Google :

• Founded: September 4, 1998
• Headquarters:  Mountain View, California, United States
• CEO: Sundar Pichai

About Greece :

• President: Katerina Sakellaropoulou
• Prime Minister : Kyriakos Mitsotakis
• Capital: Athens
• Currency: Euro

CURRENT AFFAIRS: SPORTS NEWS

Tazuni has been unveiled as the mascot for the 2023 FIFA Women’s World Cup:

• Tazuni, a playful, football-obsessed penguin, has been named the Official Mascot of the FIFA Women’s World Cup Australia and New Zealand 2023.
• Tazuni will become an essential symbol for the FIFA Women’s World Cup Australia and New Zealand, appearing on official tournament goods and media channels, as well as in person at community events leading up to the event.
• In the run-up to the FIFA Women’s World Cup, Tazuni, a 15-year-old midfielder whose tale involves her falling in love with football after playing with a group of kids on a beach, will be featured on merchandise, media platforms, and community events.
• Tazuni is a combination of the Tasman Sea, the habitat of penguins, and Unity, the primary value of the occasion.

Regarding the 2023 FIFA Women’s World Cup:

1. The FIFA Women’s World Cup in 2023 will be the ninth in the series, and for the first time, two countries will co-host the event.
2. The 64 games will be contested across 10 different venues in 9 different cities, with the tournament being split between Australia and New Zealand (5 in Australia and four 4 in New Zealand).

Meltwater Champions Chess Tour 2022 is won by Magnus Carlsen:

• Magnus Carlsen won the Meltwater Champions Chess Tour title for 2022 after easily defeating Arjun Erigaisi in the quarterfinals of the eighth and final event of the tour.
• Carlsen earned the title of tour champion and an additional $50.000 reward on top of his total earnings (to date) of $192.000.
• In the first game of their quarterfinal match, the 31-year-old had to put in some effort as Erigaisi played some of his greatest chess against the champion to grab three pawns and set up what appeared to be an easy victory.
• In the Aimchess quick semi-finals, Jan-Krzysztof Duda will play against the World Chess Champion after defeating Vidit Santosh Gujrathi in the quarterfinals.
• Shakhriyar Mamedyarov and Richard Rapport will face off in the second semi-final after they defeated Nodirbek Abdusattorov and Gukesh D (respectively).

Daily CA on October 22:

• International Stuttering Awareness Day 2022 is observed on the 22nd of October 2022.
• Union Agriculture Minister Narendra Singh Tomar announced that the national government will start a Rs 500 crore accelerator program to help agro enterprises with their profitable ideas.
• The Ministry of Railways has announced the closing of New Delhi’s Central Organization for Modernization of Workshops (COFMOW).
• 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%.
• The Indian Railways Catering and Tourism Corporation (IRCTC) and AI-driven financial wellness platform CASHe have teamed up to offer a “travel now pay later” (TNPL) payment option on IRCTC Rail Connect, the company’s travel app.
• Google signed a Memorandum of Understanding (MOU) with the Assam government to support and accelerate the State’s goal of fostering digital growth and development.
• In a recent analysis, the World Economic Forum (WEF) claimed that putting drones at the forefront of a technology-driven transformation of Indian agriculture may boost the country’s GDP by 1–1.5% and generate at least five lakh new jobs in the coming years.
• India ranks third in the first-ever global survey on the rise of centi-millionaires – those with assets of more than Rs 830 crore ($100 million) — despite having high levels of poverty, inflation, and hunger.
• The Unique Identification Authority of India (UIDAI), which oversees Aadhaar, has once again topped the Department of Administrative Reforms and Public Grievances (DARPG) September rankings report for addressing the most public grievances among all government ministries and departments.
• Tazuni, a playful, football-obsessed penguin, has been named the Official Mascot of the FIFA Women’s World Cup Australia and New Zealand 2023.
• Magnus Carlsen won the Meltwater Champions Chess Tour title for 2022 after easily defeating Arjun Erigaisi in the quarterfinals of the eighth and final event of the tour.

• The International Finance Corporation (IFC), World Bank’s private sector investment arm, has launched a new, $6 billion financing facility to strengthen the private sector’s ability to respond to the crisis and help support food production.
• The European Parliament has approved a new rule to introduce a single charging port for electronic gadgets (mobile phones, tablets, and cameras) by 2024 in the European Union (EU).
• 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.
• 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
• 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.
• 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.
• Leading stock brokerage firm, HDFC Securities Limited, has opened the first-ever Women-Only Digital Centre (DC) in Bangalore, Karnataka, India.
• 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.
• 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
• Indian Space Research Organisation (ISRO) has designated senior Solar Scientist, Dr. Sankarasubramanian K, as the Principal Scientist of the ‘Aditya-L1’ Mission.
• The UN Human Rights Council (UNHRC) has appointed K P Ashwini as a Special Rapporteur (SR) on contemporary forms of racism, racial discrimination, xenophobia, and related intolerance of the United Nations Human Rights Council (UNHRC).
• Former Civil Aviation Secretary Mr. Pradeep Singh Kharola was appointed as the Chairman and Managing Director (CMD) of the India Trade Promotion Organization (ITPO) for two years.
• The Ministry of Corporate Affairs (MCA) has nominated two directors Mr. G Mahalingam and Deepak Mohanty to the board of Infrastructure Leasing & Financial Services (IL&FS).
• Life Insurance Corporation of India (LIC) has increased its stake to 7.7% from 5.65% in an Indian multinational pharmaceutical company Dr. Reddy’s Laboratories Ltd.
• The Iranian government has launched a space tug capable of shifting satellites between orbits.
• Alphabet Inc’s Google will set up its first cloud region in Greece.