Daily Current Affairs October 31

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October 31| Daily Current Affairs 2023

Important Days – Daily Current Affairs October 31

1. When does National Unity Day or RashtriyaEktaDiwas fall?
A) January 26
B) August 15
C) October 2
D) October 31
E) November 14
Answer: D) October 31

• National Unity Day, also known as ‘RashtriyaEktaDiwas’ is celebrated every year on October 31 to commemorate the birth anniversary of SardarVallabhbhai Patel, India’s first Home Minister.
• For his iron will and nerves of steel, he earned the title ‘Iron Man of India’. For his astute leadership and compassion, his people lovingly called him Sardar.
• The Narendra Modi government has been observing Sardar Patel’s birth anniversary as the “RashtriyaEktaDiwas” since 2014.
• Patel was born on October 31, 1875 in Gujarat’s Nadiad. He is credited for the merger of over 560 princely states into the Union of India.
• As part of Patel’s birth anniversary celebrations, various programmes are being organised across the country, recalling his contribution to the unification of India.
• This year will mark the 148th birth anniversary of the SardarVallabhbhai Patel.

World Cities Day

• World Cities Day is observed on October 31 every year to highlight the urgency of international cooperation to address the challenges of urbanisation globally.
• The day was established by the United Nations in 2014.
• The main event of World Cities Day takes place in a different city each year and the day focuses on a specific theme.
• The host city for World Cities Day 2023 event is the Municipality of Uskudar in Istanbul, Turkiye.
• During its session dated December 27, 2013, the UNGA passed a resolution establishing World Cities Day.
• The first celebrations took place on October 31, 2014. This global day was created to implement the outcome of the UN Conference on Human Settlements held in 1976.
• The next year marked the introduction of the UN-Habitat programme for the sustainable development of the cities aligned to the Sustainable Development Goal 11 (SDG 11).
• Urban October is an annual programme that begins on the first Monday of October and ends on October 31, which coincides with World Cities Day.
• This year the day centres around the theme of “Financing sustainable urban future for all”.

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Obituary – Daily Current Affairs October 31

2. Who was the former IAF vice-chief responsible for reactivating the DBO in Ladakh, who recently passed away?
A) Air Marshal Rakesh Kumar Singh Bhadauria
B) Air Marshal Pradeep Vasant Naik
C) Air Marshal PK Barbora
D) Air Chief Marshal Birender Singh Dhanoa
E) Air Marshal Arup Raha
Answer: C) Air Marshal PKBarbora

• Former IAF vice-chief, Air Marshal P.K. Barbora (Retd), known for calling a spade a spade, passed away
• Air Marshal Barbora (Retd) is regarded within the Indian Air Force (IAF) as the force behind the reactivation of the Daulat Beg Oldi (DBO) airstrip in 2008, after over four decades of closure, at a time when the government and the IAF itself were sceptical.
• Barbora was heading the Western Air Command (WAC) at the time. DBO, the highest airfield in the world, is an Advanced Landing Ground close to the Line of Actual Control (LAC) with China, east of Siachen.
• He had also activated the FukChe Advanced Landing Ground
• Born in Shillong, Air Marshal Barbora was the first officer from the Northeast to reach such a high post in the armed forces.
• He was the vice chief for 1.5 years and superannuated on 31 December 2010.
• He was a member of the IAF team that inducted the first Jaguar squadron, and also the IAF’s maiden Air Combat Simulator, the first of its kind in Asia.
  Among his several operational assignments include Command of a MiG-21 squadron,
• Chief Operations Officer (COO) of a fighter airbase and Air Officer Commanding (AOC) of a premier fighter airbase under the Eastern Air Command (EAC)
• He was a recipient of the ParamVishishtSeva Medal and Vayu Sena Medal.

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3. Who was Professor SaleemulHuq?
A) A famous chef
B) A renowned climate change expert
C) A professional athlete
D) A popular actor
E) An astronaut
Answer: B) A renowned climate change expert

• Professor SaleemulHuq (71), prominent climate change expert and director of the International Centre for Climate Change and Development (ICCCAD), passed away
• SaleemulHuq was a Bangladeshi-British scientist and had been the Director of the International Centre for Climate Change & Development (ICCCAD)based in Bangladesh, also Professor at Independent University, Bangladesh (IUB). He was elected one of Nature’s 10 Ones in 2022
• Huq was awarded 2020 National Environment Award by the Government of Bangladesh for his contribution to the development of the environment.
• Huq was appointed Officer of the Order of the British Empire (OBE) in the 2022 New Year Honours for services to combating international climate change.
• Professor Huq was a lead author of the chapter on Adaptation and Sustainable Development in the Intergovernmental Panel on Climate Change’s (IPCC) Third Assessment Report and one of two coordinating lead authors of the chapter on ‘Inter-relationships between adaptation and mitigation’ in the IPCC’s Fourth Assessment Report (2007).
• He was a co-chair of the Action Track 5 on Building Resilience to Vulnerabilities, Shocks, and Stress at the United Nations Food System Summit for 2021.
• Professor Huq attended every session of the United Nations Framework Convention on Climate Change (UNFCCC) Conference of the Parties (COP). He was an active member of the UNFCCC Least Developed Countries (LDC) group as an adviser on adaptation, loss and damage, and climate finance, and he trained LDC negotiators.
• Professor Huq authored hundreds of scientific and popular articles and was named one of the top twenty global climate change policy influencers in 2019. Professor Huq was also
• Bangladesh’s leading climate change scientist.

Awards and recognition

• Robert McNamara Fellowship from World Bank, Washington DC, USA, 1986–87
  Duggan Fellowship from NRDC, Washington DC, USA, 1989.
• Nobel Peace Prize – Prof.SaleemulHuq contributed to the reports of the IPCC which was awarded the Nobel Peace Prize in 2007.
• Burtoni Award (2007)
• National Environment Award (2020)
• Nature’s 10 (2022)

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Banking and Finance – Daily Current Affairs October 31

4. What is the purpose of the tie-up between Reliance and SBI Card?
A) To launch a new smartphone model
B) To establish a chain of luxury hotels
C) To launch a lifestyle-focused credit card
D) To create a new cryptocurrency
E) To launch a fitness and wellness app
Answer: C) To launch a lifestyle-focused credit card

• SBI Card has tied up with Reliance Retail to launch the Reliance SBI Card credit card, giving customers who shop at its retail outlets access to rewards and benefits
• Customers shopping at Reliance Retail’s fashion & lifestyle, grocery, consumer electronics, pharma, furniture, and jewellery, among others, will get rewards and benefits by using the Reliance SBI Card.
• The card is made out of recycled plastic and has been introduced on the RuPay platform.
• In addition, users of the co-branded credit card can also avail of the offers provided by SBI Card on an ongoing basis.
• The card has been launched in two variants, namely Reliance SBI Card and Reliance SBI Card PRIME. Annual renewal fee of Reliance SBI Card PRIME is Rs 2,999 excluding taxes while Reliance SBI Card’s renewal fee is Rs 499 plus taxes.
• Should the customers spend over Rs 3 lakh using the PRIME variant and Rs 1 lakh using the Reliance SBI Card, the renewal fee gets waived.

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5. When cooperative banks in India want to change their name, what is the correct authority they should approach for a no objection certificate (NOC)?
A) The Prime Minister’s Office (PMO)
B) The Department of Education (DoE)
C) The Department of Supervision (DoS) of the concerned Regional Office
D) The Ministry of Finance
E) The State Governor’s Office
Answer: C) The Department of Supervision (DoS) of the concerned Regional Office

• The Reserve Bank of India (RBI) has directed cooperative banks desirous of changing their name to approach the Department of Supervision (DoS) of the concerned Regional Office for the grant of no objection certificate (NOC), clearly stating the reasons for such change.
• The approval of the General Body of the bank will be mandatory at the time of submitting such requests to RBI.
• Referring to the notification of the Banking Regulation (Amendment) Act of 2020, RBI emphasised that in terms of Section 49B, the Central Registrar of Cooperative Societies (CRCS)/ Registrar of Cooperative Societies (RCS) cannot signify its approval to the change of name of any co-operative bank unless the Reserve Bank certifies in writing that it has no objection to such change.
• Further, in terms of Section 49C, no application for the confirmation of the alteration of bye-laws of a co-operative can be maintainable unless Reserve Bank certifies that there is no objection to such alteration, per RBI’s directive to urban co-operative banks, state co-operative banks and district central co-operative banks on “Banking Regulation (Amendment) Act 2020 – Change in Name of Co-operative Banks” .
• Co-operative Banks shall follow the outlined process for change in the name of the bank even if the name change is due to government notification.

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Acquisitions and Mergers – Daily Current Affairs October 31

6. What is the current stake of Yes Bank in J C Flowers Asset Reconstruction (JC Flowers ARC) following its acquisition of additional shares?
A) 6.2%
B) 7.5%
C) 9.9%
D) 11.3%
E) 14.8%
Answer: C) 9.9%

• Yes Bank has acquired 2.4 crore additional shares of J C Flowers Asset Reconstruction (JC Flowers ARC), taking its stake to 9.9 per cent.
• Shares of JC Flowers ARC were transferred from JCF ARC LLC to the bank on October 27, 2023
• On November 28, 2022, the bank had acquired 9.9 per cent of the equity share capital of JC Flowers ARC. Basis certain corporate actions in JC Flowers ARC, bank’s stake had reduced to 5.01 per cent from 9.9 per cent
• However, it said, in accordance with share subscription and purchase agreement, the lender has now acquired additional shares in JC Flowers ARC so as to reinstate the bank’s stake to 9.9 per cent.
• The bank acquired 24,643,558 equity shares of JC Flowers ARC at Rs 29.68 per equity share, having face value of Rs 10 at a premium of Rs 19.68 per unit for an amount aggregating to Rs 731,420,804.
• JC Flowers ARC is a company incorporated on May 6, 2015 under the Companies Act, 1956 and existing under the Companies Act, 2013 and registered as an asset reconstruction company pursuant to section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

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Awards – Daily Current Affairs October 31

7. What is the reason for UST, a leading digital transformation solutions company, being recognized by the 2023 Mahatma Awards?
A) Excellence in customer service
B) Innovation in technology solutions
C) Sustainable and impactful contributions to corporate social responsibility (CSR)
D) Outstanding financial performance
E) Leading the industry in cybersecurity
Answer: C) Sustainable and impactful contributions to corporate social responsibility (CSR)

• UST, a leading digital transformation solutions company, has been recognized by the 2023 Mahatma Awards for its sustainable and impactful contributions to corporate social responsibility (CSR).
• This latest recognition has further solidified UST’s position as a global industry leader in CSR initiatives.
• An initiative of Aditya Birla Group, the award was presented on Mahatma Gandhi’s birth anniversary, celebrating UST’s commitment to societal upliftment in areas like education, health, livelihood, environment, and disaster relief

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8. Who is the winner of the Ballon d’Or 2023?
A) Cristiano Ronaldo
B) Neymar
C) Lionel Messi
D) KylianMbappé
E) Robert Lewandowski
Answer: C) Lionel Messi

• The 67th Ballon d’Or awards took place at the Theatre du Chatelet in Paris, France
  Argentina captain Lionel Messi won a record-extending eighth Ballon d’Or for the best player in the world
• Messi, who won his first Ballon d’Or in 2009

Ballon d’Or 2023 complete winners list

• Ballon d’Or- Lionel Messi (Inter Miami, Argentina)
• Ballon d’Or FemininAitanaBonmatí (FC Barcelona Femení, Spain)
• Kopa Trophy for the best male U-21 player Jude Bellingham (Real Madrid, England)
• Yachine Trophy for the best male goalkeeper Emiliano Martínez (Astona Villa, Argentina)
• Gerd Müller Trophy for the highest-scoring male striker ErlingHaaland (Manchester City, Norway)
• Socrates Award to acknowledge humanitarian work Vinicius Junior (Real Madrid, Brazil)
• Club of the Year Manchester City and FC Barcelona Femeni

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Science and Technology – Daily Current Affairs October 31

9. What is the recent development related to Aligarh Muslim University (AMU)?
A) AMU’s plan to establish a new medical college
B) AMU’s collaboration with a foreign university for a research project
C) AMU’s approval to launch its own satellite by the government
D) AMU’s decision to offer online courses in cybersecurity
E) AMU’s announcement of a new sports complex on campus
Answer: C) AMU’s approval to launch its own satellite by the government

• The Aligarh Muslim University (AMU) has embarked on an ambitious space programme known as the ‘SS AMU SAT’, which has received approval from the Indian National Space Promotion and Authorization Centre (IN-SPACe), operating under the aegis of the Department of Space.
• The SS AMU SAT project, which began its journey in November 2021 under the guidance of the AMU Robo Club, is an endeavour to develop a 3U CubeSat – the first satellite to be named after AMU’s esteemed founder, Sir Syed Ahmad Khan.
• This nanosatellite project boasts a multitude of objectives, including the utilization of satellite imagery to study economic growth in India’s poorest districts. The satellite will also facilitate the testing of several in-house developed satellite sub-systems and employ an image compression technology for expedited multimedia transmission.
• This project took a leap forward in January 2023 when it was formally submitted to IN-SPACe for approval, registration, frequency allocation, and launch. In September 2023, the Student Satellite Committee, chaired by Dr. P.K. Jain, Director of the Project Management and Analysis Division (PMAD) at IN-SPACe, conducted a review of the satellite’s design and approved the proposal.
• However, this approval comes with the condition that AMU enters into a Memorandum of Understanding (MOU) with IN-SPACe, encompassing all activities from the development of SS AMU SAT to its eventual launch into Lower Earth Orbit.
• The team of students leading the SS AMU SAT project is under the guidance of PoortiVarshney, who is working to see this endeavour through to fruition. They receive mentorship from Dr. C. A. Prabhakar, a former Project Director at ISRO (Indian Space Research Organisation), and Faraz Ahmad, an alumnus of AMU from the class of 2013.
• Crucially, this project has not progressed in isolation. AMU’s alumni employed at ISRO, as well as several international industrial experts, have provided essential technical support.
• The SS AMU SAT project is tentatively scheduled to be launched within the next six months.

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National Affairs – Daily Current Affairs October 31

10. Where has the Indian Air Force deployed its three S-400 air defense missile squadrons?
A) Along the border with Nepal
B) Along the border with Bangladesh
C) Along the border with China and Pakistan
D) In the Indian Ocean
E) Along the border with Myanmar
Answer: C) Along the border with China and Pakistan

• The Indian Air Force has deployed its three S-400 air defense missile squadrons along borders with China and Pakistan. To further boost India’s defence system, Indian and Russian officials are set to meet soon to finalise the delivery schedule for the remaining two squadrons
• In 2018-19, India agreed with Russia to procure S-400 missiles worth ₹35,000 crore (approx). As per the agreement five squadrons of S-400 missiles were set to be delivered by Russia to India.
• Out of five squadrons, three were delivered. Whereas the delivery of the remaining two was hindered due to the Russia-Ukraine conflict.
• In another development, the Indian Defence Acquisition Council recently cleared the procurement of the Indian Long Range Surface Air Missile system under Project Kusha.
• The development came after the project was approved by the Cabinet Committee on Security.
• The Indian Air Force is also working with the DRDO to squeeze the delivery schedule of the LR-SAM. The three-layered long-range surface-to-air missile (LRSAM) defence system would be able to strike down enemy aircraft and missiles at around 400 Km ranges.

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11. What tax rate has the Central Board of Indirect Taxes and Customs (CBIC) implemented on corporate guarantees involving related entities, such as parent companies and subsidiaries?
A) 5% GST
B) 12% GST
C) 18% GST
D) 24% GST
E) No GST
Answer: C) 18% GST

• The Central Board of Indirect Taxes and Customs (CBIC) has implemented an 18% Goods and Services Tax (GST) on corporate guarantees involving related entities, such as parent companies and subsidiaries
• The notification gives effect to the decision announced by the GST Council on October 8th.
• The CBIC order of the GST Rule is made prospectively such that the rule will have no impact on transactions executed prior to October 26th.
• The notification specifies that the 18% GST will apply to corporate guarantees between parent and subsidiaries and other related parties either on the financial consideration charged by the guarantor for that service or 1% of the value of the guarantee, whichever is higher
• The order also provides that in the case of corporate guarantees issued to a bank by a director against loans sanctioned to a company, and where no fee is paid to the director for that service, no GST would apply.

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12. What recent achievement was accomplished by the Indian Army’s Light Combat Helicopter ‘Prachand’?
A) Successful night-time air-to-air combat
B) Firing of 70mm rockets in both day and night conditions
C) Setting a new altitude record for helicopters
D) Completing a transcontinental flight
E) Carrying out a successful amphibious landing operation
Answer: B) Firing of 70mm rockets in both day and night conditions

• The Indian Army’s Light Combat Helicopter (LCH) ‘Prachand’ successfully carried out the firing of 70mm rockets in both day and night conditions
• The firing was carried out at a firing range near Likabali in Assam
  Developed by state-run aerospace major Hindustan Aeronautics Ltd (HAL), the 5.8-tonne twin-engine LCH is armed with various weapon systems and is capable of destroying enemy tanks, bunkers, drones and other assets in high-altitude regions.
• The helicopter possesses modern stealth characteristics, robust armour protection and formidable night attack capability, and it is fully capable of even operating in Siachen, the world’s highest battlefield.
• The LCH is equipped with requisite agility, manoeuvrability, extended range, high altitude performance and all-weather combat capability to perform a range of roles, including combat search and rescue (CSAR), destruction of enemy air defence (DEAD) and counter-insurgency (CI) operations.
• The helicopter can also be deployed in counter-insurgency operations in the jungles and urban environments, as well as for supporting ground forces.
• It can also be used against slow-moving aircraft and remotely piloted aircraft (RPAs) of adversaries.
• The LCH Prachand was inducted into the Army and the Indian Air Force in the second half of last year

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