Daily Current Affairs October 01

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs October 01. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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October 01 | Daily Current Affairs 2024

Important Days – Daily Current Affairs October 01

1. When was the Headquarters, Integrated Defence Staff (IDS) established?
A) 1st October 2000
B) 1st October 2001
C) 1st October 2002
D) 1st October 2003
E) 1st October 2004
Answer: B) 1st October 2001

Event and Location:

• Event: 24th Raising Day of Headquarters, Integrated Defence Staff (IDS).
• Location: National War Memorial, New Delhi.

Mandates and Objectives:

• Key Role: IDS ensures coordination, integration, and policy input for the modernisation and development of the three armed services.
• Plays a pivotal role in preparing joint plans for threats requiring a tri-service response, overseeing technology management, and promoting military diplomacy.
• Key Milestones:
  • Formulation of Joint Doctrines for strategic and joint operations.
  • Development of joint logistics and Humanitarian Assistance and Disaster Relief (HADR) plans.
  • Integration of NavIC with IRNSS, establishing Tri-services Satellite Earth Stations.
  • Raising of five Joint Services Training Institutes and creation of three Joint Logistics Nodes, with four more underway.

Important Terms Explained:

• Atmanirbharta in Defence: A roadmap toward self-reliance in defence through indigenisation, overseen by the Joint Services Indigenisation Centre.
• Tri-service Response: A combined operation involving the Army, Navy, and Air Force, addressing national security threats.
• NavIC (Navigation with Indian Constellation): An Indian regional satellite navigation system integrated with IRNSS (Indian Regional Navigation Satellite System).

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Banking and Finance – Daily Current Affairs October 01

2. Under which section of the Reserve Bank of India Act, 1934, was the Monetary Policy Committee (MPC) reconstituted?
A) Section 45ZA
B) Section 45ZB
C) Section 45ZC
D) Section 45ZD
E) Section 45ZE
Answer: B) Section 45ZB

Event and Location:

• Event: Reconstitution of the Monetary Policy Committee (MPC).
• Location: RBI Headquarters, New Delhi.

Mandates and Objectives:

• The MPC was reconstituted by the Central Government under Section 45ZB of the RBI Act, 1934.
• Composition of MPC:
  • Governor of the RBI – Chairperson (ex officio).
  • Deputy Governor of the RBI in charge of Monetary Policy – Member (ex officio).
  • One officer of the RBI nominated by the Central Board – Member (ex officio).
  • Prof. Ram Singh, Director, Delhi School of Economics – Member.
  • Shri Saugata Bhattacharya, Economist – Member.
  • Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development – Member.
• The three members appointed by the government hold office for four years.

Important Terms Explained:

• Monetary Policy Committee (MPC): A statutory body that is responsible for determining India’s monetary policy, including setting the repo rate to ensure inflation control and economic stability.
• RBI Act, 1934: Governs the functioning of the Reserve Bank of India, including provisions for the formation of the MPC under Section 45ZB.

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3. Which companies have partnered to address the home financing needs of farmers in India?
A) SBI and ITC
B) HDFC and ITC
C) ICICI and ITC
D) IIFL Home Finance and ITC
E) Axis Bank and ITC
Answer: D) IIFL Home Finance and ITC

Event and Location:

• Event: IIFL Home Finance ties up with ITC to cater to the home financing needs of farmers.
• Location: Nationwide in India.

Mandates and Objectives:

• Partnership Aim: Create a dedicated channel for farmers to access home loan services through IIFL Home Finance, enabling them to finance home purchases with more ease.
• Strategic Focus: The tie-up will leverage ITC’s extensive rural network to help farmers avail themselves of home loan solutions.

Current Reach:

• IIFL Home Finance currently serves over 2,70,000 first-time home buyers, expanding its focus to include the rural sector through this partnership with ITC.

Important Terms Explained:

• IIFL Home Finance (IIFL HFL): A housing finance company providing home loans, particularly targeting affordable housing.
• ITC (Indian Tobacco Company): A diversified conglomerate with a strong rural presence through its agriculture and food businesses.

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Business and Economy – Daily Current Affairs October 01

4. What was the GST collection for September 2024?
A) ₹1.60 lakh crore
B) ₹1.73 lakh crore
C) ₹1.80 lakh crore
D) ₹1.55 lakh crore
E) ₹1.70 lakh crore
Answer: B) ₹1.73 lakh crore

Event and Location:

• Event: GST collection for September 2024.
• Location: India (data released via GST portal).

Mandates and Objectives:

• GST Collection: ₹1.73 lakh crore in September 2024, showing a rise from ₹1.63 lakh crore in September 2023.
  • Growth in Domestic Consumption: Increased by around 6%.
  • Growth from Imports: Registered a growth of 8%.
• Context: The growth is relatively lower compared to earlier months of the fiscal year, but is likely driven by festival-induced consumption demand.

Future Outlook:

• Experts anticipate potential revenue enhancement measures in the next GST Council meeting to further boost collections.

Important Terms Explained:

• GST (Goods and Services Tax): A comprehensive, multi-stage, destination-based tax levied on every value addition in India. It replaced multiple indirect taxes.
• GST Council: A constitutional body responsible for making recommendations to the Union and State Governments on issues related to GST.

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5. Which two companies recently signed an agreement to enhance inter-city mobility in India?
A) Tata Motors and Ola
B) Ashok Leyland and FlixBus India
C) Mahindra and Uber
D) Maruti Suzuki and RedBus
E) Bajaj Auto and Paytm
Answer: B) Ashok Leyland and FlixBus India

Event and Location:

• Event: Signing of a pact for inter-city mobility between Ashok Leyland and FlixBus India.
• Location: Chennai, Tamil Nadu.

Mandates and Objectives:

• Agreement Details: Ashok Leyland, India’s leading commercial vehicle manufacturer, and FlixBus India, an international travel tech company, have signed an MoU to transform the inter-city bus transportation ecosystem.
• Benefits for FlixBus Partners: Local bus operators will gain access to Ashok Leyland’s chassis and comprehensive after-sales support, enabling smoother operations nationwide.
• Empowering Local Operators: The partnership aims to provide operators with state-of-the-art technology and help them maintain operational efficiency and eco-friendly solutions.

Future Plans:

• FlixBus Expansion: After a successful launch in South India, FlixBus plans to expand its fleet and network across more regions in India.
• Ashok Leyland’s Focus: CEO Shenu Agarwal highlighted the company’s commitment to providing cutting-edge technologies for safety, performance, and profitability.

Important Terms Explained:

• FlixBus: A travel technology company specializing in inter-city bus transportation with a focus on sustainability and passenger-friendly services.
• Chassis: The frame of a vehicle to which the mechanical components such as the engine and transmission are attached.

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Acquisitions and Mergers – Daily Current Affairs October 01

6. Which airlines completed their merger with the issuance of a new air operator certificate by DGCA?
A) Air India and SpiceJet
B) Air India Express and Vistara
C) AirAsia India and Air India Express
D) GoAir and IndiGo
E) Jet Airways and Air India Express
Answer: C) AirAsia India and Air India Express

Event and Location:

• Event: Completion of the merger between AirAsia India and Air India Express.
• Location: Mumbai, India.

Mandates and Objectives:

• DGCA Involvement: The Directorate General of Civil Aviation (DGCA) issued an updated air operator certificate to the newly unified entity.
  • Vikram Dev Dutt, DGCA Chief, presented the certificate to Aloke Singh, CEO of Air India Express.
• The operational merger involved transitioning 20 Airbus A320 aircraft and 3,000 employees into the new entity, completing a decade-long journey of AirAsia India.
• Final Flight: The last flight under the I5 designator code was from Goa to Bengaluru.

Post-Merger Details:

• Fleet Size: The merged airline now has 88 aircraft.
• Employees: Around 7,000 employees.
• Daily Operations: 400 flights to 46 destinations.
• Future Plans: The airline plans to increase its fleet size to 100 aircraft by March 2025 and expand its network within India and internationally.

Important Terms Explained:

• Air Operator Certificate (AOC): A certificate issued by the DGCA that allows an airline to operate commercial flights.
• Vihaan.ai: The transformation plan for Air India, aiming to modernize and expand the airline under Tata’s ownership.

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Defence – Daily Current Affairs October 01

7. Which company delivered the first AL-31FP Aero Engine to the Indian Air Force (IAF)?
A) Bharat Dynamics Ltd
B) Hindustan Aeronautics Ltd
C) Larsen & Toubro
D) Bharat Electronics Ltd
E) Indian Ordnance Factory
Answer: B) Hindustan Aeronautics Ltd

Event and Location:

• Event: Delivery of the first AL-31FP Aero Engine to the Indian Air Force (IAF).
• Location: Koraput, Odisha.

Mandates and Objectives:

• Contract Details: On September 9, 2024, HAL signed a contract to deliver 240 AL-31FP engines over the next eight years.
• Target: HAL is aiming for the timely delivery of the engines to strengthen the operational capabilities of the IAF’s Sukhoi Su-30MKI fleet.
• First Delivery: The first engine was handed over just two weeks after the contract was signed, demonstrating HAL’s commitment to quick execution.

Significance:

• The AL-31FP engines power the Sukhoi Su-30MKI, one of the most advanced fighter jets in the IAF, ensuring improved operational readiness in critical regions like Ladakh.

Important Terms Explained:

• AL-31FP Aero Engine: A turbofan engine used in Su-30MKI fighter jets, designed for high performance and agility.
• Sukhoi Su-30MKI: A multi-role air superiority fighter jet developed by Sukhoi Design Bureau for the Indian Air Force, known for its versatility and advanced avionics.

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National Affairs – Daily Current Affairs October 01

8. Who inaugurated the Swachhata Pakhwada programme at Rail Bhawan, New Delhi, on October 1, 2024?
A) Shri Piyush Goyal
B) Shri Ashwini Vaishnaw
C) Shri Satish Kumar
D) Shri Suresh Prabhu
E) Shri Manoj Sinha
Answer: C) Shri Satish Kumar

Event and Location:

• Event: Inauguration of Swachhata Pakhwada programme.
• Location: Rail Bhawan, New Delhi.

Mandates and Objectives:

• Duration: From 1st to 15th October 2024.
• Programme is part of Indian Railways’ efforts to enhance cleanliness and environmental sustainability.
• Launched the ‘Ek Ped Maa Ke Naam’ campaign, distributing 2,000 saplings to officials.
• Swachhata Pledge was administered at Rail Bhawan, with video conferencing for other regions.
• Encouraged random inspections, surprise checks, and scrap disposal to maintain cleanliness throughout the year.

Important Terms Explained:

• Swachhata Pakhwada: A fortnight-long drive focusing on cleanliness across Indian Railways’ stations and facilities.
• Ek Ped Maa Ke Naam: A tree plantation initiative promoting environmental awareness.
• Swachhata Hi Seva (SHS) 2024: A special campaign for the 10th anniversary of Swachh Bharat Mission, aiming to improve public health and cleanliness.
• CTU (Cleanliness Target Units): Specific units in Railways focused on achieving cleanliness targets.
• SafaiMitra Suraksha Camps/Shivirs: Health camps for SafaiMitras, organized to ensure the safety and well-being of cleaning staff.

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9. Which scheme was launched by the Ministry of Heavy Industries at Bharat Mandapam, New Delhi, to promote EV adoption?
A) FAME India Scheme
B) PM E-DRIVE Scheme
C) National EV Policy
D) Electric Vehicle Promotion Scheme
E) Green Mobility Initiative
Answer: B) PM E-DRIVE Scheme

Event and Location:

• Event: Launch of PM E-DRIVE Scheme.
• Location: Bharat Mandapam, New Delhi.

Mandates and Objectives:

• Objective: Accelerate EV adoption and establish essential charging infrastructure across India.
• Financial Outlay: ₹10,900 crore over two years.
• Components of the scheme:
  • Subsidies/Demand Incentives: ₹3,679 crore allocated for e-2Ws, e-3Ws, e-ambulances, and more.
  • E-vouchers: Introduced for EV buyers to streamline demand incentives.
  • Public Charging Stations: ₹2,000 crore allocated to install 22,100 fast chargers for e-4Ws and others.
• Minister’s Remarks:
  • Union Minister Shri H.D. Kumaraswamy emphasized the significance of this transition, aligning with the Swachh Bharat and Swachh Vahan missions.
  • MoS Bhupathi Raju Srinivasa Varma highlighted the scheme’s role in achieving India’s net-zero emissions by 2070.

Important Terms Explained:

• PM E-DRIVE Scheme: A scheme to promote electric vehicles and develop charging infrastructure, replacing earlier EV schemes.
• E-Voucher: Aadhaar-authenticated digital vouchers for EV customers to avail of demand incentives.
• CESL: Convergence Energy Services Limited, responsible for the procurement of e-buses under the scheme.
• RVSF (Registered Vehicle Scrapping Facility): Necessary for obtaining incentives for e-trucks.

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10. Which state recently declared indigenous cow breeds as ‘RajyaMata-Gomata’?
A) Uttar Pradesh
B) Gujarat
C) Maharashtra
D) Madhya Pradesh
E) Rajasthan
Answer: C) Maharashtra

Event and Location:

• Event: Maharashtra declared indigenous cow breeds as ‘RajyaMata-Gomata’.
• Location: Maharashtra, India.

Mandates and Objectives:

• Objective: Address concerns over the decline in indigenous cow population, critical for Ayurvedic medicine and sustainable farming.
• The government highlights the role of indigenous cows in Indian culture since the Vedic period, as well as their significance in Panchagavya (cow-derived traditional medicine), nutrition, and agricultural practices.
• Subsidy Scheme: Under this scheme, goshalas will receive ₹50 per cow per day to aid in the rearing and conservation of indigenous cows.
  • Chief Minister Eknath Shinde noted the scheme’s aim to preserve these breeds.
  • Deputy CM Devendra Fadnavis emphasized the provision of fodder for cows under the scheme, helping to conserve indigenous breeds.

Important Terms Explained:

• RajyaMata-Gomata: A title given to indigenous cows by Maharashtra, emphasizing their cultural and ecological significance.
• Panchagavya: A traditional Ayurvedic formulation made from cow products like milk, curd, ghee, dung, and urine, used in medicine and farming.
• Goshalas: Shelters for cows where they are provided care and food, especially for preserving indigenous breeds.

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11. Where was India’s first super-capacitor production facility established?
A) Thiruvananthapuram
B) Kannur
C) Kochi
D) Kozhikode
E) Ernakulam
Answer: B) Kannur

Event and Location:

• Event: Inauguration of India’s first super-capacitor production facility.
• Location: Kannur, Kerala.

Mandates and Objectives:

• Project Details: The facility, set up by Keltron Component Complex Limited (KCCL), was inaugurated by Chief Minister Pinarayi Vijayan.
  • Cost of the first phase: ₹18 crore (from the total ₹42 crore project).
  • Daily production capacity: 2,100 capacitors.
  • Collaboration with Indian Space Research Organisation (ISRO).
• Objective: Establish Kerala as a hub for electronic equipment manufacturing, with plans for additional investment of ₹1,000 crore in the sector.
  • The state government is also focusing on modernizing Keltron with a ₹395 crore master plan.
  • Plans to build an IT corridor and a hardware manufacturing facility at Amballur, Ernakulam.

Important Terms Explained:

• Super-Capacitor: A high-capacity capacitor that stores much more energy than normal capacitors, widely used in automotive, renewable energy, electronics, defence equipment, and space applications.
• Keltron: Kerala State Electronics Development Corporation, India’s first electronic equipment manufacturing company.

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12. In which state did NITI Aayog launch its first State Chapter of the Women Entrepreneurship Platform (WEP)?
A) Karnataka
B) Maharashtra
C) Telangana
D) Tamil Nadu
E) Gujarat
Answer: C) Telangana

Event and Location:

• Event: Launch of the Women Entrepreneurship Platform (WEP) State Chapter.
• Location: Hyderabad, Telangana.

Mandates and Objectives:

• Objective: The platform aims to promote and support women entrepreneurs across various sectors by providing resources, tools, and a robust network for business growth.
• Partnerships: The platform is launched in collaboration with WE Hub and the Telangana Government.
• Mentorship and Support: WEP currently has over 30,000 registered women entrepreneurs and 400 mentors from diverse industry sectors, supporting entrepreneurs with guidance, mentorship, and resources.

Key Guests at the Launch:

• BVR Subrahmanyam: CEO, NITI Aayog.
• Sita Pallocholla: CEO of WE Hub.
• Sangita Reddy: Co-chair of WEP and Joint Managing Director of Apollo Hospitals Group.
• Anna Roy: Principal Economic Advisor, NITI Aayog, and Mission Director of WEP.

Important Terms Explained:

• WEP (Women Entrepreneurship Platform): A NITI Aayog initiative designed to support and empower women entrepreneurs across India by providing access to resources, networks, and mentorship.
• WE Hub: Telangana’s first state-led incubator, focused on women entrepreneurship and providing a platform for women to scale their ventures.

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Over All Review

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