Daily Current Affairs October 10

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October 10| Daily Current Affairs 2023

Important Days – Daily Current Affairs October 10

1. On which date is World Mental Health Day observed?
A) October 1
B) October 5
C) October 7
D) October 10
E) October 15
Answer: D) October 10

• World Mental Health Day (10 October) is an international day for global mental health education, awareness and advocacy against social stigma
• It was first celebrated in 1992 at the initiative of the World Federation for Mental Health, a global mental health organization with members and contacts in more than 150 countries.
• Theme ‘Mental health is a universal human right”

Indian Foreign Service Day

• Indian Foreign Service Day is celebrated on 9 October every year since 2011 to commemorate the day the Indian Cabinet created the Foreign Service
• On 9 October 1946, the Indian government established the Indian Foreign Service for India’s diplomatic, consular and commercial representation overseas.

World Dyslexia Awareness Day

• World Dyslexia Awareness Day is observed annually on October 8th.
• World Dyslexia Awareness Day is a global initiative that seeks to shed light on dyslexia, a learning difference that affects millions of individuals worldwide
• Theme: Uniquely You
• Dyslexia Awareness Month – October
• Dyslexia Awareness Week – First full week of October from Monday – 2 to 8 October

Global Hydrogen and Fuel Cell Day

• Global Hydrogen and Fuel Cell Day takes place on the 8th of October each year
• First edition: 2015
• On the occasion, the R&D Roadmap for the National Green Hydrogen Mission was unveiled by the Ministry of New & Renewable Energy.
• The roadmap, which provides for a budget of Rs. 400 crores, seeks to provide guidance for developing a vibrant research and development ecosystem which can help commercialize Green Hydrogen and contribute to India’s ambitious climate and energy goals.
• It focuses on developing new materials, technologies, and infrastructure to improve the efficiency, reliability, and cost-effectiveness of green hydrogen production, storage, and transportation.
• The R&D program will also prioritize safety and address technical barriers and challenges in developing a hydrogen economy.

World Day Against the Death Penalty

• World Day Against the Death Penalty (10 October) is a day to advocate for the abolition of the death penalty and to raise awareness of the conditions and the circumstances which affect prisoners with death sentences.
• The day was first organised by the World Coalition Against the Death Penalty in 2003.
• It has since taken place annually on 10 October.
• Edition: 21st

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Banking and Finance – Daily Current Affairs October 10

2. How much in loans has India Infrastructure Finance Company Limited (IIFCL) sanctioned for airports and civil aviation infrastructure development in India?
A) Rs 4,000 crore
B) Rs 6,200 crore
C) Rs 8,800 crore
D) Rs 10,500 crore
E) Rs 12,000 crore
Answer: C) Rs 8,800 crore

• India Infrastructure Finance Company Limited (IIFCL) has sanctioned loans worth Rs 8,800 crore for airports and civil aviation infrastructure development in the country.
• The government has an ambitious target to develop the civil aviation sector in the country, and to realise the dream, huge investment is required
• So far, the IIFCL has sanctioned loans of about Rs 8,800 crore with the disbursement of around Rs 4,000 crore for the development of airport projects
• The company is one of the major financiers of airports in India and has supported airports with a total project outlay of about Rs 74,000 crore
• IIFCL will continue to extend its support to develop world-class airport infrastructure in India and explore opportunities in funding the greenfield airport projects, as well as maintenance, repairs and overhaul (MRO) facilities under the PPP mode by way of term loan, subscription to bonds, refinancing, or credit enhancement etc
• According to the National Infrastructure Pipeline (NIP), about Rs 91,000 crore capex has been envisaged for the civil aviation sector in the five years till FY25.

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3. What is the projected real GDP growth rate for FY24 according to the statement provided?
A) 5.0%
B) 6.0%
C) 6.5%
D) 7.0%
E) 8.0%
Answer: C) 6.5%

Interest Rates:

GDP Projections:

• Real GDP growth projection for FY24 retained at 6.5%
• GDP forecast for Q2FY24 unchanged at 6.5%
• GDP forecast for Q3FY24 unchanged at 6%
• GDP forecast for Q4FY24 unchanged at 5.7%
• GDP growth forecast for April-June 2024, or Q1FY25, unchanged at 6.6%

Inflation Forecast

• RBI maintains CPI inflation forecast for FY24 at 5.4%
• – CPI inflation forecast for Q2FY24 raised to 6.4% from 6.2%
• – CPI inflation forecast for Q3FY24 cut to 5.6% from 5.7%
• – CPI inflation forecast for Q4FY24 left unchanged at 5.2%
• – CPI inflation forecast for April-June 2024, or Q1FY25, unchanged at 5.2%

Developmental and Regulatory Policies
Gold loan limit for UCBs doubled

• With a view to incentivising urban co-operative banks (UCB) that have met the prescribed PSL targets as on March 31, 2023, RBI has decided to increase the monetary ceiling of gold loans that can be granted under the bullet repayment scheme from ₹2 lakh to ₹4 lakh for such UCBs who have met the overall PSL target and sub targets as on March 31, 2023.

New channels for Card-on-File Tokenisation

• RBI proposed to introduce Card-on-File (CoF) token creation facilities directly at the issuer bank level. This measure will enhance convenience for cardholders to get tokens created and linked to their existing accounts with various ecommerce applications.

PM Vishwakarma included under PIDF scheme; tenure extended by two years

• The PM Vishwakarma will be included under the Payments Infrastructure Development Fund (PIDF) Scheme and the tenure of the scheme will be extended by another two years up to December 31, 2025.

Framework for recognition of SROs for Regulated Entities

• RBI to issue an omnibus framework for recognising Self-Regulatory Organisations (SROs) for various Regulated Entities (REs) of the Reserve Bank. The omnibus SRO framework shall prescribe the broad objectives, functions, eligibility criteria, governance standards, etc., which will be common for all SROs, irrespective of the sector.

Framework for Projects Finance

• RBI to issue a comprehensive regulatory framework for projects under implementation applicable for all regulated entities.

Credit Concentration Norms

• RBI permits NBFCs in Middle Layer and Base Layer to offset their exposures with eligible credit risk transfer instruments.

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Appointments – Daily Current Affairs October 10

4. Who has been re-elected to the International Raiffeisen Union (IRU) Board for the second term and is the president of the Indian Co-operative Network for Women (ICNW) and the Working Women’s Forum (India)?
A) Priya Sharma
B) Nandini Azad
C) Rajesh Gupta
D) AlokVerma
E) Meera Singh
Answer: B) Nandini Azad

• Nandini Azad, president of the Indian Co-operative Network for Women (ICNW) and the Working Women’s Forum (India), has been re-elected to the International Raiffeisen Union (IRU) Board for the second term
• On September 2018, she was the first woman to join the IRU Board
• The IRU, a worldwide association of national cooperative organisations that is regarded as ‘Father of Cooperatives’, has 53 member organisations, including those from Switzerland, Kenya, India, the Netherlands, France and Austria and plays a crucial role to advance cooperative ideals and practices on a global scale.
• Ms. Azad is a Global Coordinator of Cooperatives, a prestigious nomination by the World Farmers Organisation in Rome. She has served as elected vice-chairperson and chairperson of the International Cooperative Alliance – Asia Pacific Women’s Committee (ICA-AP), an apex organisation for cooperatives worldwide.
• Initially, she was a special invitee to the Raiffeisen Board on gender diversity and she played an important role in championing the cause of greater inclusion and representation of women in the cooperative sector.

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5. How many general managers were appointed as Executive Directors (EDs) of various Public Sector Banks (PSBs) by the Appointments Committee of Cabinet?
A) 5
B) 8
C) 10
D) 12
E) 15
Answer: D) 12

• The Appointments Committee of Cabinet named 12 general managers as Executive Directors (EDs) of various Public Sector Banks (PSBs)
• Sanjay Rudra, general manager of Bank of Maharashtra, has been appointed ED of Union Bank of India, according to a government directive. Vijaykumar N Kamble, another General Manager from the same bank, will take over as CEO of UCO Bank. Bhavendra Kumar, currently the Chief General Manager of Canara Bank, has been promoted as the Executive Director of the same bank.
• Bibhu Prasad Mahapatra, Chief General Manager of Punjab National Bank, has been named as the Executive Director, while Ravi Mehra, General Manager, of PNB has been promoted to the position of Executive Director of Punjab & Sind Bank.
• Rajiv Mishra, Chief General Manager of Union Bank of India, will take over as Managing Director of Bank of India, and Brajesh Kumar Singh, Chief General Manager of Bank of Baroda, will join Indian Bank as Managing Director.
• Simultaneously, Rohit Rishi, Chief General Manager of Indian Bank, would take over as Executive Director of Bank of Maharashtra next month.
• Furthermore, the government has also named Lal Singh as Chief Executive Officer of Bank of Baroda, Shiv Bajrang Singh as Chief Executive Officer of Indian Bank, MahendraDohare as Chief Executive Officer of Central Bank of India, and Dhanaraj T as the Chief Executive Officer of Indian Overseas Bank.

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Science and Technology – Daily Current Affairs October 10

6. The Automotive Research Association of India (ARAI) has collaborated with which institution to establish the Digital Twin Center for Emerging Automotive Systems in India?
A) Indian Institute of Technology (IIT) Bombay
B) Indian Institute of Technology (IIT) Delhi
C) Indian Institute of Technology (IIT) Guwahati
D) Indian Institute of Science (IISc) Bangalore
E) Indian Statistical Institute (ISI) Kolkata
Answer: C) Indian Institute of Technology (IIT) Guwahati

• The Automotive Research Association of India (ARAI ) has signed an agreement with the IIT Guwahati to set up a common engineering facility centre titled ‘Digital Twin Center for Emerging Automotive Systems’ in hub and spoke model.
• The common engineering facility centre (CEFC) is being established under Capital Goods scheme Phase II of ministry of heavy industries (MHI) by ARAI, along with industry partner Micelio Mobility Private Limited titled ‘Digital Twin Center for Emerging Automotive Systems’ in Hub and Spoke model.
• The establishment of Digital Twin Centre for Emerging Automotive Systems will help the MSMEs and start-ups in experimenting, experiencing, upskilling and finding solutions using this domain for their needs.
• These facilities can be utilised across industries for developing technologies, experimentation, design and simulation and validation.

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7. What is the name of Amazon’s communications constellation project that aims to compete with SpaceX’s Starlink service and recently launched two prototype satellites?
A) Project Artemis
B) Project Starlink
C) Project Galileo
D) Project Orion
E) Project Kuiper
Answer: E) Project Kuiper

• Amazon has taken a significant stride in its ambitious endeavor to establish a global satellite internet network, marking a pivotal moment in the realization of its Project Kuiper system.
• This visionary project aims to deploy 3,236 satellites in low Earth orbit, offering high-speed internet access to remote corners of the world.
• Amazon’s maiden pair of Project Kuiper satellites embarked on their journey into space.
  To materialize Project Kuiper, Amazon has committed a staggering investment exceeding $10 billion.
• The company recently inaugurated a $120 million pre-launch processing facility in Florida, underlining the magnitude of its ambitions.
• mission, named “Protoflight,” entrusted United Launch Alliance’s Atlas V rocket with the responsibility of ferrying two satellites: Kuipersat-1 and Kuipersat-2.
• The launch occurred at ULA’s pad SLC-41 in Cape Canaveral, Florida.
• This mission represented a crucial test for Amazon’s fledgling satellite venture.
• In a historic corporate pact, Amazon secured a monumental rocket deal for launching Kuiper satellites.
• Contracts were inked with United Launch Alliance (ULA), Arianespace, and Jeff Bezos’ Blue Origin.
• The arrangement, valued at around $7.4 billion over five years, covers 77 launches with options for additional launches as required.

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8. What organization in Chennai handed over the first Integrated Air Drop Test – Crew Module structure (IADT-CM) to the Indian Space Research Organisation (ISRO)?
A) Indian Air Force (IAF)
B) Hindustan Aeronautics Limited (HAL)
C) Indian Navy
D) KCP – Heavy Engineering Unit
E) Tata Consultancy Services (TCS)
Answer: D) KCP – Heavy Engineering Unit

• The Chennai-based KCP – Heavy Engineering Unit handed over the first Integrated Air Drop Test – Crew Module structure (IADT-CM) to Indian Space Research Organisation (ISRO).
• Dr. V.L. Indira Dutt, Chairperson and Managing Director, The KCP Group handed over the structure to Mr. R. Hutton, Acting Director, Human Space Flight Center, ISRO, at a function held at KCP-Heavy Engineering Unit’s integrated facility in Thiruvotriyur.
• ISRO had earlier placed an order with KCP for the fabrication of two IADT crew module structures, both meant for the demonstration of its Technology Preparedness levels before carrying out Gaganyaan spacecraft, India’s first human space flight programme.
• The first IADT-CM is fabricated at KCP’s integrated facility for heavy casting, machining, and fabrication in Thiruvotriyur. The second one will be supplied to ISRO by March 2024.
• The first IADT-CM weighs 3,120 kg and measures 3.1 diameter and 2.6-meter height. It is made of light alloy (aluminum) and 15CDV6 steel.
• The structure comprises more than 100 components that were joined together with welding, riveting and threaded fastening techniques.
• While ISRO designed the IADT-CM structure, KCP-Heavy Engineering Unit fabricated and realised it at its in-house facilities.
• The fabrication of the structure is a challenging job, involving critical forming, precision machining, and stringent assembly required of both aluminum and high strength steel.
• ISRO’s Gaganyaan Mission envisages launching a crew of two to three members to an orbit of 400 km for a 3-day mission and bringing them back safely to the earth by facilitating the landing in Indian sea waters.
• The spacecraft mainly consists of Crew Module and Service Module. The CM structure, fabricated at KCP, simulates the shape and size of the actual Gaganyaan crew module.
• The Integrated Air Drop Test will be performed using an Indian Air Force helicopter by taking the Crew Module structure to an altitude of 3.6 to 4 km to validate the deceleration system (parachute & pyro’s) performance.
• KCP – Heavy Engineering Unit, Chennai, supplies equipment for the core engineering sector (such as cement, sugar, mineral, power & steel), oil & gas industries and Indian defence, space and nuclear establishments. It has an integrated facility for heavy casting, machining & fabrication under one proof.

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International Affairs – Daily Current Affairs October 10

9. What did European Union lawmakers approve to regulate companies issuing “green” bonds and prevent greenwashing?
A) Stricter tax regulations
B) Environmental Impact Assessments
C) New standards for “green” bonds
D) Renewable energy subsidies
E) Carbon offset trading guidelines
Answer: C) New standards for “green” bonds

• European Union lawmakers approved new standards for companies issuing “green” bonds to help investors pick sustainable companies and avoid greenwashing or misleading climate-friendly claims.
• The European Parliament voted in favour of the new voluntary standard for the use of a “European Green Bond” label, calling it the first of its kind in the world.
• Europe is the world’s biggest issuer of green bonds, accounting for more than half of global volume in 2021, though issuance is still only 3% to 3.5% of the overall bond market.
• It will also give the company issuing the bond more certainty that their bond will be suitable to investors who want to add green bonds to their portfolio
• At least 85% of funds raised would have to be allocated to activities in line with the EU’s “taxonomy” of sustainable activities.
• Firms would also have to show how these investments feed into their plans to transition to a net zero carbon emissions economy.
• The standards set up a registration system and supervisory framework for external reviewers of European green bonds.

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10. Where was North America’s first Gandhi Museum opened?
A) New York
B) San Francisco
C) Washington, D.C.
D) Los Angeles
E) Houston
Answer: E) Houston

• A long-awaited dream of having the first free-standing Gandhi Museum in North America, dedicated to the life and legacy of Mahatma Gandhi, the apostle of peace, is finally a reality and open for the public in the US city of Houston in Texas.
• It has been Eternal Gandhi Museum.
• The museum aims to promote and preserve the legacy of Mahatma Gandhi, who is called the apostle of peace.
• The museum officially opened for the public on August 15. But the grand ribbon-cutting ceremony took place on October 2.
• It was the 154th birth anniversary of Mahatma Gandhi.
• Outer walls of the semi-circular museum show various peace activists including Mahatma Gandhi, Nelson Mandela, Martin Luther King Jr., Betty Williams and more.
• There is also a statue of Mahatma Gandhi in front of the musuem.
• The 13,000 square-foot museum’s architecture is based on Gandhi’s twenty-four-spoke Chakra spinning wheel which he used to seek independence from colonial rule.

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National Affairs – Daily Current Affairs October 10

11. What is the name of the annual joint Humanitarian Assistance and Disaster Relief (HADR) exercise that had its first edition in 2015?
A) Operation Relief
B) CHANDRAHAS
C) Project Resilience
D) Operation CHAKRAVAT
E) Disaster Ready
Answer: D) Operation CHAKRAVAT

• The Annual Joint HADR Exercise (AJHE) is an outcome of Hon’ble PM’s directive promulgated during Combined Commanders’ Conference-2015.
• Since its first edition in 2015, the Annual Joint HADR Exercise, CHAKRAVAT, has transformed itself into a multi-agency endeavour involving participation of all three Services, Paramilitary Forces, as well as several disaster response organisations, NGOs, academic institutions and international organisations.
• The 2023 edition would further synergise efforts at the national level among all stakeholders, as well as witness participation from eight countries of the Indian Ocean Region.
• The exercise has been conducted by Indian Army, Indian Navy (IN) and Indian Air Force (IAF) in rotation since 2016.
• The last edition of the exercise was conducted at Agra by IAF.
• The 2023 edition of the exercise is being hosted by the Indian Navy at Goa from 09 to 11 Oct 23.
• Developing collective and coordinated effective response mechanisms to address humanitarian crises and natural disasters are one of the most visible elements in India’s inclusive vision for the oceans – SAGAR, or Security And Growth for All in the Region.
• Humanitarian Assistance and Disaster Relief (HADR) operations form a key component in the Indian Navy’s Benign Role, as climate change has significantly increased vulnerability of the Indian Ocean Region (IOR) to natural disasters.
• AJHE-23, planned over three days includes a seminar, a Table-Top Exercise and a Multi-Agency Capability Demonstration.

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12. What did Union Commerce & Industry Minister Shri Piyush Goyal unveil under the Foreign Trade Policy 2023?
A) Export Promotion Scheme
B) Import Tariff Reduction
C) Digital Export Documentation
D) System-Based Automatic ‘Status Holder’ Certificates
E) Trade Deficit Reduction Plan
Answer: D) System-Based Automatic ‘Status Holder’ Certificates

• In a meeting with the Export Promotion Councils today, the Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles Shri Piyush Goyal unveiled a significant initiative to issue system based automatic ‘Status Holder’ certificates under the Foreign Trade Policy (FTP) 2023.
• Now the exporter will not be required to apply to the office of Directorate General of Foreign Trade (DGFT) for a Status Certificate and the export recognition will be provided by the IT system based on available Directorate General of Commercial Intelligence and Statistics (DGCIS) merchandise export electronic data and other risk parameters.
• The Status Holder certification program provides credibility to the Indian exporters in the international markets. In addition, it provides certain other privileges including simplified procedures under FTP 2023 and priority custom clearances on self-declaration basis, exemption from compulsory negotiation of documents through banks, exemption from filing Bank Guarantee for FTP schemes etc.
• With the launch of this new system, the Department of Commerce, Ministry of Commerce and Industry will be recognizing about 20,000 exporters under FTP 2023 as Status Holders which will be a quantum jump from the earlier number of 12,518 exporters

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13. What initiative has the Indian Navy introduced to enhance the evaluation process for promotions?
A) Project Evaluation 360
B) Promotion Enhancement Program
C) 360-Degree Promotion Appraisal
D) Naval Performance Review
E) Navy’s Promotion Evaluation
Answer: C) 360-Degree Promotion Appraisal

• The Indian Navy is implementing a new 360-degree appraisal mechanism for officers being considered for promotion.
• The mechanism will include peer reviews from colleagues and subordinates to evaluate an officer’s impact on their team.
• The feedback obtained will be analyzed by a nominated board of officers, providing officers with the opportunity to make behavioral changes and improvements.
• The Navy aims to remain a combat-ready and credible force.
• The Navy has around 10,000 officers, which includes over 600 women, at present
  Indian Navy’s Swavalamban 2023 exhibition displays anti-swarm drone 30 ammunition

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14. Which airport in Asia has become the first to commission a ‘Disabled Aircraft Recovery Kit’ (DARK)?
A) Indira Gandhi International Airport, Delhi
B) Kempegowda International Airport, Bengaluru
C) Rajiv Gandhi International Airport, Hyderabad
D) ChhatrapatiShivajiMaharaj International Airport, Mumbai
E) Suvarnabhumi Airport, Bangkok
Answer: D) ChhatrapatiShivajiMaharaj International Airport, Mumbai

• In a monumental stride towards enhancing passenger safety and operational resilience, the ChhatrapatiShivajiMaharaj International Airport (CSMIA) has commissioned Asia’s first ‘Disabled Aircraft Recovery Kit’ (DARK) to help stranded aircraft
• The DARK facility comprised high pressure lifting bags of superior durability but requiring minimal manpower and providing a more efficient aircraft recovery process compared with the conventional low-pressure counterparts.
• With a maximum weight of 390 tonnes, DARK can quickly recover large commercial and transport aircraft, including the world’s biggest aircraft, the Boeing 777-300ER, and others that may be involved in runway excursions or other incidents.
• Runway excursion is a scenario when the aircraft veers off or overruns the runway during take-off or landings, a major concern in aviation, and requires swift but meticulous intervention to ensure safety of passengers, the aircraft and the airport operations
• The recovery process encompasses a meticulous sequence of steps, from ground preparations to aircraft lifting, de-bogging and towing, and the DARK’s compact design enhances its transportability, allowing rescuers to reach crash sites faster, so that disruptions in operations are minimized, especially as CSMIA has a single cross-over runway operation.
• The sophisticated kit can be operated with comparatively fewer trained personnel, the bags occupy a smaller footprint, and recovery operation four times faster than the low pressure bag system
• The CSMIA’s own Aircraft Rescue and Fire Fighting team underwent an intensive five-day training programmeto operate DARK, the legal aspects, tethering, ground stabilisation, lifting techniques using the low-pressure bags, multi-sling utilisation and de-bogging procedures, etc.
• For the theoretical and practical training, the entire DARK was spread across a gigantic hangar at the CSMIA and the different units disassembled, comprising 46 containers, a compressor to power the systems to inflate the bags, tethers to stability the six-metre tall inflated bags, a trailer and wing transition

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