Daily Current Affairs October 10

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 10. 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 10 | Daily Current Affairs 2024

Important Days – Daily Current Affairs October 10

1. On which date is National Postal Day observed annually in India?
A) October 9th
B) October 10th
C) October 11th
D) October 12th
E) October 15th
Answer: B) October 10th

Event and Location:

• Event: National Postal Day is observed annually in India on October 10th to commemorate the establishment of the Indian Postal Service.
• Location: India

Mandates and Objectives:

• Historical Significance: The Indian Postal Service was formally established on October 10, 1854, during the East India Company rule, laying the foundation for one of the world’s largest postal networks.
• Role of Postal Services: Over the years, the postal service has expanded beyond traditional mail delivery to include financial services, insurance, government service delivery, and digital communication solutions.
• National Postal Week: The celebration extends to National Postal Week, observed from October 9th to 15th, with various themed days such as Postal Life Insurance Day, Stamp Collection Day, and Mail Day.

Important Terms Explained:

• Indian Postal Service: One of the largest postal networks globally, providing essential communication and financial services across urban and rural areas in India.
• National Postal Week: A week-long observance highlighting the importance and services of India’s postal system.

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Banking and Finance – Daily Current Affairs October 10

2. Which entity recently issued a ‘Guidance Note’ for regulated entities to address money laundering and terrorist financing risks?
A) Ministry of Finance
B) Reserve Bank of India (RBI)
C) Securities and Exchange Board of India (SEBI)
D) National Payments Corporation of India (NPCI)
E) Insurance Regulatory and Development Authority of India (IRDAI)
Answer: B) Reserve Bank of India (RBI)

Event and Location:

• Event: The Reserve Bank of India (RBI) has issued a ‘Guidance Note’ for regulated entities (REs) including banks, NBFCs, and payment system operators.
• Location: India

Mandates and Objectives:

• Purpose: The note assists regulated entities in handling risks related to money laundering (ML) and terrorist financing (TF).
• Internal Risk Assessment (IRA): The note is directed toward improving risk assessments, especially for Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) practitioners.
• Risk-Based Approach (RBA): It supports the development of the Risk-Based Assessment (RBA) within regulated entities, providing guiding principles.
• Emerging Risks: As financial products evolve and technologies advance, ML/TF risks increase, necessitating stronger controls.
• Compliance: REs are urged to ensure timely reporting of suspicious transactions to avoid financial and reputational damage.

Important Terms Explained:

• Money Laundering (ML): The illegal process of disguising the origin of money obtained from illicit activities.
• Terrorist Financing (TF): The financial support provided for terrorist activities or organizations.
• Risk-Based Assessment (RBA): A process that focuses on assessing and mitigating higher risk areas.
• Anti-Money Laundering (AML): Measures aimed at preventing money laundering within financial systems.
• Countering the Financing of Terrorism (CFT): Efforts made to curb the financial resources used for terrorism.
• Proliferation Financing (PF): Financial support for the proliferation of weapons of mass destruction.

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3. How much does UGRO Capital plan to raise through non-convertible debentures (NCDs)?
A) ₹100 crore
B) ₹150 crore
C) ₹200 crore
D) ₹250 crore
E) ₹300 crore
Answer: C) ₹200 crore

Event and Location:

• Event: UGRO Capital Ltd has announced plans to raise up to ₹200 crore via secured Non-Convertible Debentures (NCDs).
• Location: India

Mandates and Objectives:

• Base Issue and Oversubscription: The issue includes a base size of ₹100 crore with the option to retain oversubscription of up to an additional ₹100 crore, aggregating the total to ₹200 crore.
• Coupon Rate: The NCDs will have a coupon rate ranging between 10.15% to 10.40%, depending on the tenor of the bonds.
• Purpose: The funds raised will likely be used to support UGRO Capital’s business operations and growth initiatives.

Important Terms Explained:

• Non-Convertible Debentures (NCDs): A financial instrument that companies use to raise long-term capital, which cannot be converted into equity shares.
• Coupon Rate: The interest rate paid to bondholders on an annual or semi-annual basis.
• Tenor: The period or duration for which the NCD is issued.

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Business and Economy – Daily Current Affairs October 10

4. What is the revised growth forecast for India by the World Bank for FY25?
A) 6.6%
B) 6.8%
C) 7.0%
D) 7.2%
E) 6.5%
Answer: C) 7.0%

Event and Location:

• Event: The World Bank has revised India’s GDP growth forecast for FY25 from 6.6% to 7%.
• Location: New Delhi, India

Mandates and Objectives:

• Revised Growth Forecast: The World Bank increased its forecast for India’s GDP growth to 7% for FY25, up from an earlier projection of 6.6%.
• Reasons for Revision: The upward revision is attributed to:
  • Rebound in Agricultural Output: Improved agricultural performance contributed significantly to the positive revision.
  • Increased Private Consumption: Higher levels of domestic consumption further strengthened the economic outlook.

Important Terms Explained:

• GDP (Gross Domestic Product): The total value of goods and services produced in a country during a specific period, reflecting economic health.
• World Bank: An international financial institution that provides loans and financial assistance to developing countries to support development projects.

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5. What is the reported profit after tax (PAT) of IREDA in Q2 of FY24?
A) ₹350 crore
B) ₹388 crore
C) ₹400 crore
D) ₹365 crore
E) ₹415 crore
Answer: B) ₹388 crore

Event and Location:

• Event: IREDA (Indian Renewable Energy Development Agency) reported a 36.18% year-on-year (Y-o-Y) growth in its profit after tax (PAT) for the second quarter (Q2) of FY24.
• Location: New Delhi, India

Mandates and Objectives:

• Q2 Profit: IREDA’s profit after tax (PAT) surged to ₹387.75 crore, showing a 36.18% increase on a year-on-year basis.
• Loan Book Growth: The agency’s loan book expanded by 35.88% year-on-year, reaching ₹64,564.36 crore in Q2.
• Business Focus: IREDA is a state-run financial institution focused on promoting and financing renewable energy projects across India.

Important Terms Explained:

• Profit After Tax (PAT): The net profit a company earns after accounting for all taxes.
• Loan Book: The total amount of loans that a financial institution has given to borrowers, reflecting its lending activity.
• Year-on-Year (Y-o-Y): A method of comparing financial performance or growth metrics over the same period in different years.

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Books and Authors – Daily Current Affairs October 10

6. What is the title of the latest book by veteran investigative journalist Bob Woodward?
A) Fear
B) Rage
C) War
D) Peril
E) Crisis
Answer: C) War

Event and Location:

• Event: Bob Woodward, a veteran investigative journalist known for his role in uncovering the Watergate scandal, is set to release his new book titled “War”.
• Location: United States

Mandates and Objectives:

• Book Focus: Woodward’s latest book, “War”, delves into the dynamics of power between former U.S. President Donald Trump, current U.S. President Joe Biden, and Russian President Vladimir Putin. It provides revelations about Trump’s conversations with Putin after leaving office, raising concerns about Trump’s international influence.
• Contrast of Leadership Styles: The book contrasts Biden’s steady leadership with Trump’s reckless behavior, portraying Trump as prioritizing personal interests over national security.
• Fourth Book on Trump: This is Woodward’s fourth book on Trump, following Fear, Rage, and Peril.

Important Terms Explained:

• Bob Woodward: A veteran journalist and associate editor at The Washington Post, best known for his investigative reporting on the Watergate scandal, which led to President Richard Nixon’s resignation.
• Watergate Scandal: A major political scandal in the 1970s, where illegal activities by President Nixon’s administration were exposed, leading to his resignation.

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Appointments – Daily Current Affairs October 10

7. Who has been appointed as the new MD and CEO of Bandhan Bank for a period of three years?
A) Ratan Kumar Kesh
B) C.S. Ghosh
C) Partha Pratim Sengupta
D) Shaktikanta Das
E) Debasish Panda
Answer: C) Partha Pratim Sengupta

Event and Location:

• Event: The Reserve Bank of India (RBI) approved the appointment of Partha Pratim Sengupta as the MD & CEO of Bandhan Bank for a period of three years.
• Location: Mumbai, India

Mandates and Objectives:

• Appointment Details: The RBI’s approval came on October 8, 2024, after a recommendation from Bandhan Bank’s Board of Directors.
• Duration: The appointment is effective for three years, starting no later than November 10, 2024.
• Background: Sengupta, who replaces interim CEO Ratan Kumar Kesh, has nearly four decades of experience in the banking sector. He previously served as MD and CEO of Indian Overseas Bank and as Deputy MD and Chief Credit Officer at State Bank of India (SBI).
• Reason for Change: The change was necessitated after the unexpected retirement of C.S. Ghosh, the bank’s founder and former MD, in July 2024.

Important Terms Explained:

• MD & CEO (Managing Director & Chief Executive Officer): The senior-most executive in a company, responsible for the overall management and decision-making.
• Bandhan Bank: A private sector bank in India, founded to focus on financial inclusion and banking services for underserved communities.
• State Bank of India (SBI): India’s largest public sector bank where Sengupta served in senior roles.

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8. Who is emerging as the front-runner to succeed Ratan Tata as the patriarch of the Tata Group?
A) N. Chandrasekaran
B) Noel Tata
C) Cyrus Mistry
D) Mukesh Ambani
E) Ratan Tata
Answer: B) Noel Tata

Event and Location:

• Event: Noel Tata has emerged as the front-runner to take over from Ratan Tata as the next patriarch of the Tata Group.
• Location: India

Mandates and Objectives:

• Leadership Transition: As Ratan Tata looks for a successor, Noel Tata is seen as the most likely candidate due to his family connections and strong business credentials.
• Business Acumen: Noel Tata has successfully led Trent, a Tata Group retail business, navigating the company through intense competition in the retail sector.
• Family Ties: Noel is part of the Tata family, adding weight to his potential appointment, though his business achievements are the primary reason for his candidacy.

Important Terms Explained:

• Tata Group: One of India’s largest and most prestigious conglomerates, with businesses spanning multiple sectors, including steel, automobiles, IT, and retail.
• Trent: A retail subsidiary of the Tata Group, known for its successful chain of stores like Westside and Zudio.

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9. Who won the 2024 presidential election in Tunisia with 90.7% of the votes?
A) Rached Ghannouchi
B) Zouhair Maghzaoui
C) Ayachi Zammel
D) Kais Saied
E) Abir Moussi
Answer: D) Kais Saied

Event and Location:

• Event: President Kais Saied won a second five-year term in Tunisia’s 2024 presidential election.
• Location: Tunisia

Mandates and Objectives:

• Election Results: Kais Saied secured 90.7% of the votes, an overwhelming majority that has raised concerns among international observers about the election’s fairness.
• Voter Turnout: The election was marked by a low voter turnout of 28.8%, significantly lower than the previous election in 2019.
• Opposition Suppression: The election period saw criticism due to the imprisonment and suppression of opposition figures and parties, leading to limited competition.

Important Terms Explained:

• Presidential Election: A process in which the citizens of a country vote to elect their head of state, in this case, the President of Tunisia.
• Voter Turnout: The percentage of eligible voters who cast their vote in an election.

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Science and Technology – Daily Current Affairs October 10

10. Which institution recently launched the Quantitative Research Lab to explore AI for quantitative finance?
A) IIM Ahmedabad
B) IIT Delhi
C) IIT Madras
D) IISc Bengaluru
E) NIT Trichy
Answer: C) IIT Madras

Event and Location:

• Event: IIT Madras launched a Quantitative Research Lab focused on exploring AI for quantitative finance.
• Location: Chennai, Tamil Nadu, India

Mandates and Objectives:

• Key Focus: The lab will engage in research related to financial markets, their microstructure, quantitative investment management, and quantitative risk management.
• Funding: The lab is supported by AlphaGrep Securities, a quantitative trading firm, through CSR funding of ₹5.65 crore.
• Research Goals: The lab will apply AI techniques to quantitative finance, offering training programmes, developing courses for students, and creating datasets for research.
• Collaboration: The initiative fosters collaboration between IIT Madras faculty and AlphaGrep staff, with mentorship and resources to advance research in AI-driven financial technologies.

Important Terms Explained:

• Quantitative Finance: A field of finance that uses mathematical models and large datasets to analyze financial markets and manage investment portfolios.
• Microstructure: Refers to the study of the mechanisms and processes that facilitate the trading of financial assets in markets.
• CSR (Corporate Social Responsibility) Funding: A practice where companies contribute to the development of social, environmental, or educational initiatives.

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Defence – Daily Current Affairs October 10

11. Which insurance company has the Indian Navy signed an MoU with for providing insurance to Naval Civilians?
A) LIC
B) HDFC Life
C) ICICI Prudential
D) Bajaj Allianz Life
E) SBI Life
Answer: D) Bajaj Allianz Life

Event and Location:

• Event: The Indian Navy (IN) signed a Memorandum of Understanding (MoU) with Bajaj Allianz Life Insurance to provide life insurance options to Naval Civilians.
• Location: India

Mandates and Objectives:

• Purpose of MoU: The MoU aims to provide term insurance and other insurance products to Naval Civilians at affordable premiums. This initiative will ensure monetary relief to the family in case of the untimely death of a Naval Civilian while in service.
• Voluntary Basis: The insurance is available on a voluntary basis to Naval Civilians, offering diverse options to cater to different needs.
• Welfare Focus: This MoU aligns with the Indian Navy’s welfare initiatives as 2024 has been declared the ‘Year of Naval Civilians’ to enhance the quality of life and work environment for Naval Civilians.

Important Terms Explained:

• Naval Civilians: Non-military personnel working within the Indian Navy, contributing to its operations and administration.
• Term Insurance: A life insurance product that provides coverage at a fixed premium for a limited period of time, offering a death benefit in case the insured passes away during the policy term.

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National Affairs – Daily Current Affairs October 10

12. Which document has been made mandatory for applicants of the PM Internship Scheme?
A) Voter ID
B) Aadhaar
C) PAN Card
D) Passport
E) Driving License
Answer: B) Aadhaar

Event and Location:

• Event: The Corporate Affairs Ministry has made Aadhaar mandatory for aspirants applying for the PM Internship Scheme.
• Location: New Delhi, India

Mandates and Objectives:

• Mandatory Aadhaar: The PM Internship Scheme now requires candidates to have an Aadhaar number or undergo Aadhaar authentication to avail benefits.
• Expenditure and Direct Benefit Transfer (DBT): Since the scheme involves recurring government expenditure from the Consolidation of India fund, Direct Benefit Transfer (DBT) will be used for payouts.
• Internship Opportunities: The scheme has seen significant growth, with 50,000 internship positions now available and 130 companies participating in the internship portal.

Important Terms Explained:

• Aadhaar: A 12-digit unique identification number issued to Indian residents based on their biometric and demographic data.
• PM Internship Scheme: A government initiative aimed at providing internship opportunities to young aspirants across India.
• Direct Benefit Transfer (DBT): A system to transfer subsidies and benefits directly into the bank accounts of beneficiaries, ensuring transparency and reducing leakage.

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13. How much amount did the Centre release to the States in October 2024 towards tax devolution?
A) ₹1.78 lakh crore
B) ₹2.05 lakh crore
C) ₹1.50 lakh crore
D) ₹2.10 lakh crore
E) ₹1.30 lakh crore
Answer: A) ₹1.78 lakh crore

Event and Location:

• Event: The Finance Ministry released ₹1.78 lakh crore to the States as part of tax devolution.
• Location: India

Mandates and Objectives:

• Purpose of Release: The funds include one advance instalment to assist States in ramping up capital spending ahead of the festive season and to finance development and welfare-related expenditure.
• Allocation: The release aims to boost States’ financial resources to stimulate development, especially during a period of increased economic activity.
• Largest Share: Uttar Pradesh received the largest share of ₹31,962 crore, followed by Bihar with ₹17,921 crore, Madhya Pradesh with ₹13,987 crore, and West Bengal with ₹13,404 crore.
• Capital Spending: The funds are intended to accelerate investment in infrastructure projects such as roads, public facilities, and other State-led developmental initiatives.

Important Terms Explained:

• Tax Devolution: The distribution of tax revenue from the central government to the state governments as recommended by the Finance Commission.
• Finance Commission: A constitutional body that determines the financial distribution between the Union and the States, guiding the allocation of tax revenues.

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14. How many Pradhan Mantri Kisan Sammrudhi Kendras (PMKSK) have been identified as campaign sites under the Swachhata Special Campaign 4.0 by the Department of Fertilizers?
A) 5000
B) 3884
C) 4500
D) 3000
E) 4000
Answer: B) 3884

Event and Location:

• Event: The Department of Fertilizers (DoF), Ministry of Chemicals and Fertilizers, and its 9 PSUs are observing Swachhata Special Campaign 4.0 from October 2, 2024, to October 31, 2024.
• Location: India

Mandates and Objectives:

• Campaign Sites: 3884 Pradhan Mantri Kisan Sammrudhi Kendras (PMKSK) have been identified as campaign sites under Swachhata Special Campaign 4.0.
• Aims of Campaign: The initiative focuses on improving the cleanliness, facilities, and accessibility at PMKSKs to better serve farmers.
• Plantation Drive: As part of the campaign, around 4.97 lakh saplings were planted under the drive ‘Ek Ped Maa Ke Naam’ by the various PSUs under DoF, such as IFFCO and KRIBHCO.
• Additional Activities: The campaign also includes Shramdaan, essay writing, quiz competitions, and a webinar on reducing single-use plastics.

Important Terms Explained:

• Pradhan Mantri Kisan Sammrudhi Kendras (PMKSK): Government outlets offering fertilizers and agricultural resources to farmers.
• Swachhata Special Campaign: A cleanliness drive initiated by the government to institutionalize cleanliness and improve efficiency in offices.
• Ek Ped Maa Ke Naam: A tree plantation initiative aimed at promoting environmental sustainability.

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15. What milestone did the Atal Pension Yojana (APY) achieve in FY 2024-25?
A) 5 crore enrollments
B) 10 crore enrollments
C) 6 crore enrollments
D) 7 crore enrollments
E) 8 crore enrollments
Answer: D) 7 crore enrollments

Event and Location:

• Event: The Atal Pension Yojana (APY) crossed the milestone of 7 crore enrollments in FY 2024-25.
• Location: India

Mandates and Objectives:

• Launch Date: The scheme was launched on May 9, 2015, to provide a universal social security system for the poor and workers in the unorganized sector.
• Enrollment Milestone: As of FY 2024-25, over 56 lakh new enrollments were added, bringing total enrollments to over 7 crore.
• Pension Benefits: APY offers a guaranteed pension ranging from ₹1,000 to ₹5,000 per month, based on the subscriber’s contributions.
• Family Benefits: Upon the subscriber’s demise, the spouse continues to receive the same pension, and after both pass away, the accumulated corpus is returned to the nominee.

Important Terms Explained:

• Atal Pension Yojana (APY): A government-backed pension scheme aimed at providing financial security to unorganized sector workers and underprivileged citizens.
• PFRDA (Pension Fund Regulatory and Development Authority): The regulatory body managing APY and other pension schemes in India.

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