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CURRENT AFFAIRS : BANKING & FINANCE

World Bank retains India's FY24 GDP growth at 6.3%

• The World Bank has decided to maintain India's Gross Domestic Product (GDP) growth projection at 6.3% for the fiscal year 2023-24.
• In its April, 2023 report, the World Bank had reduced India's growth forecast for 2023-24 from the earlier 6.6% to 6.3%.
• The World Bank's latest report highlights India's remarkable resilience in a challenging global environment.

Key Highlights :

• India was one of the fastest-growing major economies in the fiscal year 2022-23, with a growth rate of 7.2%, despite facing significant global challenges.
• India's economic resilience, as per the World Bank, is supported by several factors, including robust domestic demand, substantial public infrastructure investments, and a strengthening financial sector.
• The World Bank notes that bank credit growth in India has increased to 15.8% in the first quarter of the fiscal year 2023-24.
• The World Bank predicts that global challenges are likely to persist and potentially intensify due to factors such as high global interest rates, geopolitical conflicts, and subdued global demand.

Government Maintains Unchanged Interest Rates on Most Small Saving Schemes for Q3 of Current Fiscal Year 2023

• The government has maintained the interest rates on most small saving schemes unchanged for the third quarter (Q3) of the current financial year.

Key Highlights :

• Recurring Deposits: The return on 5-year recurring deposits has been increased by 20 basis points, rising from 6.5% to 6.7% for Q3 (October to December 2023 quarter).
• National Savings Certificate (NSC): The interest rate on NSC remains unchanged at 7.7% for the period from October 1 to December 31, 2023.
• Sukanya Samriddhi Scheme: The interest rate for the Sukanya Samriddhi scheme has been kept unchanged at the current rate of 8%.
• Senior Citizen Savings Scheme: The interest rate on the senior citizen savings scheme is 8.2%.
• Kisan Vikas Patra (KVP): The interest rate on Kisan Vikas Patra (KVP) is 7.5%.

Government target :

• The government aims to issue securities worth more than ₹4.71-lakh crore against small savings this fiscal, as a source to bridge the fiscal deficit.
• For FY23, it was around ₹4.39-lakh crore.
• The small savings schemes basket comprises 12 instruments, including the National Saving Certificate (NSC), Public Provident Fund (PPF), Kisan Vikas Patra (KVP) and Sukanya Samriddihi Scheme.
• The government resets the interest rate at the beginning of every quarter.

Indian Bank Introduces Digital Initiatives to Improve Customer Experience

• Indian Bank, a public sector lender, has implemented a series of digital initiatives to better serve its customers.

Key Highlights :

• Loans for MSMEs : The bank is offering loans to micro, small, and medium enterprises (MSMEs) with a limit of up to Rs 25 crore.
• Project WAVE : Indian Bank has launched "Project WAVE" to redesign critical banking processes.
• It includes offerings such as a "home loan takeover" to provide customers with competitive pricing.
• The bank also offers vehicle loans and other services under this initiative.
• Partnership with India Post : Indian Bank has partnered with India Post to offer National Savings Certificates.
• These certificates, issued by the government, are used for small savings by customers and can be availed through various branches of the bank.
• Mobile Application - IndOASIS : The bank under its mobile application, IndOASIS, has introduced various features including the facility to book flights, hotels and buses.
• Multi-Purpose Debit Cards : The debit cards offered by the bank can also be used as travel cards in Metro rail or buses wherever the National Common Mobility Card facility is available.

About Indian Bank :

• Headquarters : Chennai, Tamil Nadu (TN)
• Managing Director (MD) and Chief Executive Officer (CEO): Shanti Lal Jain
• Tagline : Your Own Bank

ADB Capital Management Reforms to Generate $100 Billion in New Funding for Asia and the Pacific in the Next Decade

• The Asian Development Bank (ADB) has introduced capital reforms to unlock $100 billion in new financing capacity over a decade.

Aim :

• To expand ADB's development mission, focusing on addressing global challenges like climate change and poverty.

Key Highlights :

• The reforms are implemented through an update of ADB's Capital Adequacy Framework (CAF).
• This expansion increases ADB's annual new commitments capacity to over $36 billion, which is approximately a 40% increase.
• ADB's move aligns with the World Bank's similar measures earlier in the year, aiming for a $50-billion lending increase over a decade.
• Multilateral development banks (MDBs) like ADB, World Bank, and others, will need to increase their annual spending by $3 trillion by 2030, including $1.8 trillion for additional climate action and $1.2 trillion for achieving other sustainable development goals (SDGs).
• K. Singh and Lawrence Summers co-convene the G20 expert group on strengthening MDBs.
• The first volume of the NK Singh and Lawrence Summers report, published in July,2023 proposes effective solutions for evolving issues like poverty alleviation and shared prosperity within MDBs.
• The second part of the report, which will be released in October for discussion by finance ministers ahead of the G20 Annual meeting at Marrakech (Morocco), will set the road-map for the transformation of MDBs that will have to evolve to address the ongoing and upcoming challenges faced by the global economy.

About ADB :

• Founded : 19 December 1969
• Headquarters : Mandaluyong, Philippines
• MD & CEO : Masatsugu Asakawa
• Membership : 68 countries

CURRENT AFFAIRS: NATIONAL NEWS

PM Modi launches several development projects worth Rs 5000 crore at Jodhpur in Rajasthan

• Prime Minister Narendra Modi laid the foundation stone and dedicated to the nation multiple development projects worth five thousand crore rupees across various sectors at Jodhpur in Rajasthan.
• The projects unveiled by the Prime Minister include the foundation stone for a 350 bedded ‘Trauma Centre and Critical Care Hospital Block at All India Institute of Medical Sciences in Jodhpur’, and seven Critical Care Blocks under Pradhan Mantri - Ayushman Bharat Health Infrastructure Mission to be developed across the state.
• Mr Modi also laid the foundation stone for the development of the state-of-the-art New Terminal Building at Jodhpur Airport to be built at a cost of 480 crore
• He dedicated to the nation IIT Jodhpur campus, and the upgradation of the infrastructure at Central University of Rajasthan
• He also laid the foundation stone of multiple road development projects and dedicated two other rail projects.
• Prime Minister Modi flagged off two new train services in Rajasthan including a new train - Runicha Express - connecting Jaisalmer to Delhi and a new heritage train connecting Marwar Junction to Khambli Ghat.

About Rajasthan :

• Governor : Kalraj Mishra
• Chief Minister : Ashok Gehlot
• Capital : Jaipur
• National Park : Keoladeo National Park, Ranthambore National Park
• Wildlife Sanctuary : Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary

Raksha Mantri Rajnath Singh launches Navy's updated indigenous programme Swavalamban 2.0

• Raksha Mantri Rajnath Singh launched the Navy's updated indigenous programme Swavalamban 2.0.
• Speaking at the Indian Navy's Naval Innovation and Indigenisation Organisation (NIIO) seminar 'Swavlamban' in New Delhi, Mr Rajnath Singh informed that self-reliance is the utmost priority since the Modi government came to power.
• The Government is making all possible efforts to make India self-reliant in the Defence sector.
• India is now moving forward in mission mode in the research and development, because of the policies framed by the Government.
• During the event, also released the fifth Positive Indigenisation list of 98 items at the event.
• Raksha Mantri informed that it shows the major step in the Indigenisation process of the Armed forces and these 98 items in this list are a big step in the self-reliance of the Defence sector.
• The Minister, the work done by the Modi Government in the fields of defence, infrastructure, economy, health, and education is important and it instilled confidence in the people of India.

Recent News

• In May 2023, Defence Minister Shri Rajnath Singh inaugurated Hindustan Aeronautics Limited (HAL) regional office in Kuala Lumpur, the capital of Malaysia
• In June 2023, Defence Minister Shri Rajnath Singh inaugurated a first-of-its-kind Indian Air Force (IAF) Heritage Centre in

About Indian Navy :

• Headquarters : New Delhi, Delhi
• Chief of the Naval Staff : Admiral R Hari Kumar
• Motto : Be auspicious unto us Oh Varuna

Commerce Secretary visits Brazil for 6th Meeting of the India-Brazil Trade Monitoring Mechanism

• Secretary, Department of Commerce, Ministry of Commerce & Industry, Shri Sunil Barthwal paid an official visit to Brazil from October 1st to October 4th, 2023, for the 6th meeting of the India-Brazil Trade Monitoring Mechanism (TMM).
• He was accompanied by a delegation of 20 business leaders representing the Confederation of Indian Industry (CII).
• The visit was happening in the backdrop of the sharp growth in the bilateral trade which had doubled over the last two years reaching US$16 Billion.
• It was aimed at strengthening this rapidly growing commercial engagement between the two countries.
• During his interactions with the Brazilian officials, the Commerce Secretary commended Brazil for their support during India’s G20 Presidency and conveyed India's commitment to support Brazil when it assumes its G20 Presidency.
• The Indian delegation engaged in discussions, business meetings and explored new trade opportunities with key Brazilian organizations, including the Confederation of Industries of Brazil, the Commercial Association of Sao Paulo, the Federation of Industries of the State of Sao Paulo (FIESP) and industries in Rio de Janeiro demonstrating their strong commitment to boost bilateral trade and investment prospects.
• The delegation participated in various trade facilitation activities aimed at nurturing the growing trade relationship between India and Brazil.
• A productive meeting with the Commercial Association of São Paulo provided a platform to discuss potential trade collaborations.
• The day concluded with an interactive session with Indian companies operating in Brazil, fostering closer ties within the business community and identifying new opportunities for promoting trade.

Ministry of Tourism inaugurates PATA Travel Mart 2023 in New Delhi

• The Ministry of Tourism organised the inaugural ceremony for the PATA Travel Mart 2023 in New Delhi.
• The 46th edition of the Pacific Asia Travel Association (PATA) Travel Mart 2023 is being organised at the magnificent International Exhibition-cum-Convention Centre (IECC), Pragati Maidan, in New Delhi.
• The Mart is being organised from October 4th to 6th 2023, bringing together tourism professionals and business stakeholders from across the world.
• The physical version of the Travel Mart is being held after a hiatus of three years due to the pandemic.
• India is also participating in the PATA Travel Mart in a substantial manner.
• A designated pavilion for India at the Mart will create an immersive experience of the gamut of destinations in India both known and lesser known.
• Other State Governments such as Rajasthan, Gujarat, Delhi, Karnataka, Telangana, Uttarakhand and Madhya Pradesh and other in line Ministries such as Handlooms Development Commissioner are also putting up stands and stalls for displaying their products.
• Although the Mart is an exclusively B2B Mart, it will help bring forth the diverse gamut of thematic products such as wellness, adventure, heritage, culinary and art and craft of the different States to a global audience.

About PATA

• The Pacific Asia Travel Association (PATA) founded in 1951, with its headquarters in Bangkok, is a not-for-profit association recognized internationally for its role as a catalyst in the responsible development of travel and tourism in the Asia Pacific region.
• PATA Travel Mart is one of the important international trade exhibitions catering to the tourism sector and it serves as a platform for trade interactions between global buyers and sellers mostly from the Pacific Asia region.

The government of India notifies the constitution of the National Turmeric Board

• The Union Government notified the constitution of the National Turmeric Board which will focus on the development and growth of turmeric and turmeric products in the country.
• The Board will provide leadership on turmeric-related matters, augment the efforts, and facilitate greater coordination with the Spices Board and other Government agencies in the development and growth of the turmeric sector.
• Briefing media in New Delhi, Union Culture and Tourism Minister G Kishan Reddy, the Board will play an instrumental role in increasing awareness and consumption of turmeric and develop new markets globally to increase exports.
• India is the largest producer, consumer and exporter of turmeric in the world.
• More than 30 varieties of Turmeric are grown in India and it is grown in over 20 States in the country.
• The largest producing states of Turmeric are Maharashtra, Telangana, Karnataka, and Tamil Nadu.
• India has more than 62 percent share of world trade in turmeric.

CURRENT AFFAIRS : INTERNATIONAL NEWS

WHO Recommends R21/Matrix-M Vaccine for Malaria Prevention in Children

• The World Health Organisation (WHO) recommended a new vaccine, R21/Matrix-M, for the prevention of malaria in children.
• The recommendation follows advice from the WHO: Strategic Advisory Group of Experts on Immunization (SAGE) and the Malaria Policy Advisory Group (MPAG) and was endorsed by the WHO Director-General following its regular biannual meeting held on 25-29 September, 2023.
• The R21 vaccine is the 2nd malaria vaccine recommended by WHO, following the RTS,S/AS01 vaccine, which received a WHO recommendation in 2021.
• The R21/Matrix-M malaria vaccine developed by the University of Oxford and the Serum Institute of India has been recommended for use by the WHO.

Key Highlights :

• The vaccine utilises Novavax's adjuvant technology and has met the required safety, quality, and effectiveness standards.
• The Serum Institute of India has established a production capacity for 100 million vaccine doses annually, with plans to double it over the next 2 years.
• This scale of production is critical because vaccinating those at high risk of malaria will be important in stemming the spread of disease, as well as protecting the vaccinated.
• The R21/Matrix-M vaccine is the first malaria vaccine to achieve the WHO's target of 75% efficacy.
• It has already received approval for use in Burkina Faso, Ghana, and Nigeria.
• The vaccine is scheduled to be rolled out in African countries such as Burkina Faso, Ghana, and Nigeria in early 2024 and will be available in mid-2024 in other countries.

Key features of the R21 malaria vaccine :

• High efficacy when given just before the high transmission season: In areas with highly seasonal malaria transmission (where malaria transmission is largely limited to 4 or 5 months per year), the R21 vaccine was shown to reduce symptomatic cases of malaria by 75% during the 12 months following a 3-dose series.
• A fourth dose given a year after the third maintained efficacy. This high efficacy is similar to the efficacy demonstrated when RTSS is given seasonally.
• Good efficacy when given in an age-based schedule: The vaccine showed good efficacy (66%) during the 12 months following the first 3 doses.
• A fourth dose a year after the third maintained efficacy.
• High impact: Mathematical modelling estimates indicate the public health impact of the R21 vaccine is expected to be high in a wide range of malaria transmission settings, including low transmission settings.
• Cost effectiveness: At prices of US$ 2 – US$ 4 per dose, the cost-effectiveness of the R21 vaccine would be comparable with other recommended malaria interventions and other childhood vaccines.

National Malaria Elimination Initiatives in India :

• The Ministry of Health and Family Welfare in India launched the National Framework for Malaria Elimination (NFME) in
• The National Strategic Plan (NSP) for Malaria Elimination (2016-2030) was introduced by the Health Ministry.
• The vision of these initiatives is to achieve a malaria-free country by 2027 and complete malaria elimination by 2030.
• Malaria, a mosquito-borne disease, places a particularly high burden on children in the African Region, where nearly half a million children die from the disease each year.

About WHO : 

• Founded : 7 April 1948
• Headquarters : Geneva, Switzerland
• Director General : Tedros Adhanom Ghebreyesus
• The WHO is a specialised agency of the United Nations responsible for international public health.

CURRENT AFFAIRS : STATE NEWS

Jammu and Kashmir's Pashmina Receives Geographic Recognition Through GI Tag                           

• Basohli Pashmina, a more than 100-year-old traditional craft from Jammu and Kashmir’s Kathua district, has got the Geographical Indication (GI) tag.
• The achievement was realized through the efforts of the Department of Industries and Commerce, in coordination with NABARD Jammu and Human Welfare Association, Varanasi.

About Basohli Pashmina :

• Basohli Pashmina, a hand-spun product known for extreme softness, fineness and light weight, has insulating properties and extended life.
• Products made from Basohli Pashmina include shawls designed for both men and women, mufflers, blankets, and baskets.

What is a GI Tag?

• A GI (Geographical Indication) tag is a designation given to products originating from specific geographical locations.
• It is a form of Intellectual Property right that identifies goods originating from a particular geographical location, having unique nature, quality, and characteristics linked to that location.

Recent News :

• In April 2023, the famed Basohli painting and Chikri wood from Rajouri district of Jammu division received the GI tag.

About J&K :

• Lieutenant Governor : Manoj Sinha
• National Park : Dachigam National Park and Kishtwar High Altitude National Park

Lieutenant Governor of Jammu and Kashmir Launches CRPF Women Bike Expedition 'Yashasvini' from Lal Chowk, Srinagar

• The Central Reserve Police Force (CRPF) partnered with the Ministry of Women and Child Development to initiate a cross-country bike expedition called "Yashasvini" with a group of CRPF women bikers.

Aim :

• To celebrate the empowerment and strength of women, known as "Nari Shakti," across the country.
• The Lieutenant Governor of Jammu & Kashmir, Shri Manoj Sinha, flagged off the rally from Lal Chowk in Srinagar.

Expedition Route :

• The bikers' team began their journey from Srinagar and will travel a distance of more than 2134 kilometres.
• They will cross 40 districts and aim to reach Ekta Nagar, Gujarat, on October 31st, coinciding with the birth anniversary of Sardar Vallabhbhai Patel, often referred to as the "Iron Man of India."

About Yashasvini :

• Yashasvini is a women's bike expedition led by the Veeranganas of CRPF, symbolizing resilience and the strength of "Nari Shakti."
• It also represents the sacrifice of women's power, their self-confidence and they are achieving many milestones in different fields with grit, determination and dedication.

Participation and Interaction:

• A total of 150 women CRPF officers are participating in the expedition, divided into 3 teams.
• They are riding 75 Royal Enfield (350cc) motorbikes, with teams starting from Srinagar, Shillong, and Kanyakumari.
• During the journey, all three teams will interact with various target groups associated with the "Beti Bachao Beti Padhao" (BBBP) initiative, including school children, college girls, women self-help groups, NCC cadets, children of Child Care Institutions (CCIs), NYKS members, adolescent girls and boys, Anganwadi workers, etc.

About the Ministry of Women and Child Development :

• Cabinet Minister : Smriti Zubin Irani
• Minister of State : Mahendra Munjapara

Uttar Pradesh Attains Full ODF Plus Coverage in Swachh Bharat Mission Phase II

• Uttar Pradesh has achieved 100% ODF Plus (Open Defecation Free Plus) coverage under the Swachh Bharat Mission (Grameen) Phase II.
• All 95,767 villages i.e. 100% villages in Uttar Pradesh have achieved ODF Plus status under Phase II of the mission.
• These villages have declared themselves ODF Plus, indicating the implementation of Solid/Liquid Waste Management Systems.
• More than 80,000 villages achieved ODF Plus status within the last 9 months.

Categories of ODF Plus Villages:

• Among the 95,767 ODF Plus villages, they are categorized as follows:
• 81,744 villages are ODF Plus Aspiring villages with arrangements for either Solid Waste Management or Liquid Waste Management.
• 10,217 villages are ODF Plus Rising villages with arrangements for both Solid Waste Management and Liquid Waste Management.
• 3,806 villages are ODF Plus Model villages.

What is meant by ODF Plus Village?

• An ODF Plus village is one that has sustained its Open Defecation Free (ODF) status along with implementing either solid or liquid waste management systems.
• Across India, 4.4 lakh (75%) villages have declared themselves ODF Plus.
• Uttar Pradesh's achievement coincided with the nationwide 'Swachhata Hi Seva' campaign.
• This campaign is celebrated annually from 15th September to 2nd October under the Swachh Bharat Mission (Grameen).
• ​​So far, 11 states have been declared 100% ODF Plus status out of which UP is the largest.

About ODF Plus Model Village:

• An ODF Plus Model village sustains its ODF status and has arrangements for both Solid Waste Management and Liquid Waste Management.
• It demonstrates visible cleanliness, minimal litter, minimal stagnant wastewater, and no plastic waste dumped in public places.
• ODF Plus Model villages display ODF Plus Information, Education & Communication (IEC) messages.

About UP :

• Governor : Anandiben Patel
• Chief Minister : Yogi Adityanath
• Capital : Lucknow
• National Park : Dudhwa National Park
• Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary

Bihar Government Releases Results of Caste-Based Survey 

• The Bihar government publicly released the findings of its Caste-based Survey.
• The survey was conducted in two phases during the year.
• The officiating Chief Secretary of Bihar, Vivek Kumar Singh, released the survey data in Patna.

Key Highlights :

• According to the 101-page Survey report, the population of the state is more than 13 crore.
• The survey report reveals that the largest caste group in Bihar is the Extremely Backward Caste (EBCs), accounting for 36.01% of the state's population, which is approximately 4.70 crore people.
• The Backward Caste (BC) population is 27.12% of the state's population, with around 3.54 crore individuals.
• Yadavs are identified as the largest subgroup in the state, constituting 14.26% of the population.
• The Scheduled Caste (SC) population is reported to be 19.65% of the state's population, numbering around 2.56 crore.
• People belonging to the general category account for 15.52% of the population, which is approximately 2.02 crore.
• The tribal population stands at 1.68% of the state population.
• Along with caste details, the Bihar government has also released data on the religion-based population.
• Hinduism is followed by the majority (82%) of Bihar's population, with approximately 10.72 crore adherents.
• The Muslim population is reported to be 17.7%, totalling around 2.31 crore.
• Christianity is the third-largest religion, followed by Sikhs in the state.

About Extremely Backward Caste (EBCs):

• EBCs comprise a group of 130-odd castes that fall within the lower strata of the OBC spectrum.
• It is dominated by the Yadavs and Kurmis.
• EBCs include castes such as Mallah, Nai, Nonia, Dhanuk, Kahar, etc.
• The politics of EBC was pioneered by Karpoori Thakur, a former Chief Minister of Bihar in the 1970s, who announced quotas within quotas, allocating 12% for EBCs and 8% for OBCs.

About Bihar:

• Governor : Rajendra Arlekar
• Chief Minister : Nitish Kumar
• Capital : Patna
• National Park : Valmiki National Park, Sanjay Gandhi Biological Park
• Wildlife Sanctuary : Kaimur Wildlife Sanctuary, Udaypur Wildlife Sanctuary

CURRENT AFFAIRS: AWARDS AND HONOUR

Nobel Prize in Literature: Jon Fosse Is the 2023 Laureate

• The Royal Swedish Academy of Sciences awarded the 2023 Nobel Prize in Literature to Norwegian author Jon Fosse "for his innovative plays and prose which give voice to the unsayable", according to the Swedish Academy.
• Fosse has now joined an illustrious list of past winners that ranges from Toni Morrison to Ernest Hemingway and Jean-Paul Sartre - who turned down the prize in 1964.
• Fosse, 64, who writes in the least common of the two official versions of Norwegian, said he regarded the award as a recognition of this language and the movement promoting it, and that he ultimately owed the prize to the language itself.
• In 2022, the Nobel Prize in Literature was bestowed upon Annie Ernaux, for her “courage and clinical acuity with which she uncovers the roots, estrangements and collective restraints of personal memory.”

Nobel in Medicine 2023

• The Nobel Prize in Physiology or Medicine for 2023 was jointly awarded to Katalin Karikó and Drew Weissman for their pioneering work on mRNA technology which was highly helpful in COVID-19 vaccine development.

Nobel in Physics 2023

• The Nobel Prize in Physics for 2023 was presented to Pierre Agostini, Ferenc Krausz, and Anne L’Huillier. They were honoured for their groundbreaking experimental methods that generate attosecond pulses of light, allowing a profound study of electron dynamics within matter, particularly in atoms and molecules.

Nobel in Chemistry 2023

• The 2023 Nobel Prize in Chemistry recognized the work of Moungi G Bawendi, Louis E Brus, and Alexei I Ekimov. Their contribution lies in the discovery and synthesis of quantum dots, minuscule nanoparticles whose properties are determined by their size.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Anirban Mukherjee, CEO of PayU India, Promoted to the Global CEO Role

• Prosus-owned fintech major PayU India’s Chief Executive Officer (CEO) Anirban Mukherjee has been promoted to the role of global CEO of PayU.

Reporting Structure and Responsibilities :

• In his new position, Anirban Mukherjee will become a part of the Prosus leadership team and will report directly to Ervin Tu, Interim CEO of Prosus and Naspers.
• His primary responsibility will involve overseeing the overall business operations of PayU.
• Anirban Mukherjee takes over from Laurent Le Moal, who will step back from operational management but continue with Prosus and PayU in an advisory capacity.
• The development comes two months after the Netherlands-based Prosus announced that PayU is selling its Global Payments Organisation (GPO) to Israel’s Rapyd for $610 million.

PayU's Market Presence and Growth :

• PayU India claims to serve over 450,000 merchants and 70+ large banks through its pay tech platform Wibmo.
• It also provides credit facilities to more than 2 million customers in India.
• The company notes that it is experiencing sustained growth in India's dynamic fintech landscape.
• Prosus's payments and fintech segment achieved consolidated revenue growth of 52%, reaching $903 million in FY23.

Dr. Mohamed Muizzu from PPM PNC Coalition Emerges as the Victor in Maldives Presidential Elections                        

• Mohamed Muizzu, representing the Progressive Party of Maldives (PPM) PNC coalition, secured victory in the Maldives Presidential elections.
• He is scheduled to be sworn in as the President on November 17, 2023.
• Muizzu defeated the incumbent President Ibrahim Mohammed Solih, who had held office from 2018 to 2023.
• Muizzu received more than 53% of the votes, surpassing the 50% threshold required for victory.
• The elections took place at over 570 polling stations across the Maldives.

About the election:

• In the second round of elections, the voter turnout improved to 86%, up from 78% in the first round.
• President Ibrahim Mohammed Solih's vote share increased from 39% in the first round to 46% in the runoff but fell short of the 50% required for victory.

About Maldives :

• Capital: Male
• Currency: Maldivian Rufiyaa.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Department for Promotion of Industry and Internal Trade and Gati Shakti Vishwavidyalaya sign MoU for advancing PM Gati Shakti National Master Plan

• The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry and Gati Shakti Vishwavidyalaya (GSV) entered into a collaboration to advance India's infrastructure and logistics sectors.
• Under this Memorandum of Understanding (MoU), GSV shall be the nodal agency across India to design, develop and deliver courses and curriculum related to PM Gati Shakti's National Master Plan and National Logistics Policy at various centres in different states.
• Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Sh. Piyush Goyal said that PM Gati Shakti will become the planning tool for the entire world.
• He acknowledged the importance of GSV which offers skill development and capacity building for logistics professionals paving the way for formalisation in the logistics sector.
• More than 16 Central Ministries, including NITI Aayog, and CBC came together for the signing of the MoU.
• This collaboration shall mark the great culmination of three visions, i.e., smarter planning and implementation; structured specialised development; and capacity building.
• The MoU was signed by the Vice-Chancellor, Gati Shakti Vishwavidyalaya, Prof. Manoj Choudhary, and Joint Secretary, Logistics Division, DPIIT, Sh. E. Srinivas in the august presence of the respective Ministers, Sh. Piyush Goyal and Sh. Ashwini Vaishnaw.

About DPIIT

• The Department for Promotion of Industry and Internal Trade is a central government department under the Ministry of Commerce and Industry in India.
• Founded: 1995

Recent News

• In June 2023, The Department for Promotion of Industry and Internal Trade (DPIIT) successfully organized the National Workshop on Industrial Park Rating System (IPRS) in New Delh

North-Eastern Handicrafts and Handloom Development Corporation (NEHHDC) Ministry of Development of North-Eastern Region and Department of Heritage & Tourism, Government of Haryana Sign Historic MoU

• An MoU between the Department of Heritage & Tourism, Government of Haryana and the North-Eastern Handicrafts and Handloom Development Corporation Ltd. (NEHHDC), Ministry of Development of North-Eastern Region (DoNER) was signed for bilateral, cross-cultural exchange & and promotion of handicrafts, handlooms, textiles, crafts, culture and cuisine of the state of Haryana and North-East India.
• Shri Chanchal Kumar, Secretary Ministry of DoNER, Shri M.D. Sinha, Principal Secretary, of Haryana and senior officials of MDoNER and Government. of Haryana were present.
• This significant and historic partnership will go a long way towards realizing the objectives of 'Dekho Apna Desh’ and ‘Ek Bharat Shreshtha Bharat’.
• As per the MoU, the Department of Heritage & Tourism, Government of Haryana will allow NEHHDC to participate as the Theme State in the annual ‘Surajkund Mela’ for the next 5 years.

Key Highlights

• A separate zone with 60 stalls within the Surajkund Mela will be provided to NEHHDC for setting up their stalls to showcase their offerings, particularly with respect to arts, crafts, handlooms and handicrafts and cuisine free of cost.
• On its part NEHHDC will coordinate/liaise with relevant departments/event organizers/agencies on behalf of the Department of Heritage & Tourism, Government of Haryana to provide it with multiple platforms for participation in major festivals in the northeast, such as the Hornbill Festival, Nagaland; Mon Festival, Nagaland; Sangai Festival, Manipur; Cherry Blossom Festival, Meghalaya; and Ziro Music Festival, Arunachal Pradesh.
• This MoU will be a game-changer for the development of tourism and empower the artisans from both the northeast region and the state of Haryana to showcase their rich cultural heritage and craftsmanship, fostering a deeper appreciation and understanding of their artistry among the people while also opening up new economic markets for their products.

About Haryana :

• Governor : Bandaru Dattatreya
• Chief Minister : Manohar Lal Khattar
• Capital : Chandigarh
• Wildlife Sanctuary : Chhilchhila Wildlife Sanctuary, Bir Shikargah Wildlife Sanctuary
• National Park : Kalesar National Park, Sultanpur National Park

CURRENT AFFAIRS: SPORTS NEWS

Indian Men's Team Wins Gold medal, Women's Team Clinches Silver medal in 4x400m Relay

• The Indian women's 4x400m relay team featuring Vithya Ramraj, Aishwarya Mishra, Prachi and Subha Venkatesan won the silver medal at the 19th Asian Games.
• Despite besting the previous Asian Games record time (3:28.68 in 2014 Incheon), the Indian quartet were outplayed by Bahrain, who secured the gold medal with a new record time of 3:27.65.
• The Sri Lanka team won a bronze.
• Later in the men's 4x400m relay, the quartet of Anas Muhammed Yahiya, Amoj Jacob, Muhammed Ajmal Variyathodi and Rajesh Ramesh broke the national record to clinch India's 18th gold in the Asian Games.
• Earlier in the event, the Indian men's team clinched a silver medal in the 4x400m mixed relay event.
• The Indian team comprising Muhammed Ajmal, Vithya Ramraj, Rajesh Ramesh and Subha Venkatesan clocked 3:14.34s to claim the silver medal.

CURRENT AFFAIRS: IMPORTANT DAYS

World Cerebral Palsy Day 2023: October 6

• Every year 6th October is observed as a World Cerebral Palsy.
• The theme for World Cerebral Palsy Day in 2023 is “Together Stronger.”
• In 1853, Dr. John Little recognized and studied Cerebral Palsy.
• Around 1861, he presented his research to the Obstetrical Society of London and he provided the first definition of Cerebral Palsy.
• Little said that Cerebral Palsy may occur at birth due to difficult labour.
• Sigmund Freud was the first person who state that Cerebral Palsy may be caused by abnormal development before birth.
• With a small thrust “Change My World in One Minute” World Cerebral Palsy Alliance and United Cerebral Palsy created World Cerebral Palsy Day in the year of 2012.

World Smile Day 2023: October 6

• World Smile Day is celebrated on the first Friday of October every year.
• This year World Smile Day was celebrated on 6th October.
• The theme for World Smile Day in 2023 is “Radiate Joy”.
• In 1963, smiley face was created by the commercial artist Harvey Ball in Massachusetts.
• The smiley face looks like a yellow circle with black dots of eyes and a simple curve of a genuine smile.
• He created this smiley face as a design for a State Mutual Life Insurance company campaign.
• Ball became worried because his original intent of doing a smiley face was lost.
• So, in order to bring back his smiley face’s real meaning he created the first Friday of October which is celebrated as World Smile Day.
• Harvey died in 2001 and the Harvey Ball World Smile Foundation was founded to honour Harvey Ball.

Daily CA One-Liner: 6^th October

• Prime Minister Narendra Modi laid the foundation stone and dedicated to the nation multiple development projects worth five thousand crore rupees across various sectors at Jodhpur in Rajasthan.
• Raksha Mantri Rajnath Singh launched the Navy's updated indigenous programme Swavalamban 2.0.
• Secretary, Department of Commerce, Ministry of Commerce & Industry, Shri Sunil Barthwal paid an official visit to Brazil from October 1st to October 4th, 2023, for the 6th meeting of the India-Brazil Trade Monitoring Mechanism.
• The Ministry of Tourism organised the inaugural ceremony for the PATA Travel Mart 2023 in New Delhi.
• The Government notified the constitution of the National Turmeric Board which will focus on the development and growth of turmeric and turmeric products in the country.
• The Royal Swedish Academy of Sciences awarded the 2023 Nobel Prize in Literature to Norwegian author Jon Fosse "for his innovative plays and prose which give voice to the unsayable", according to the Swedish Academy.
• The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry and GatiShakti Vishwavidyalaya (GSV) entered into collaboration to advance India's infrastructure and logistics sectors.
• A MoU between the Department of Heritage & Tourism, Government of Haryana and the North-Eastern Handicrafts and Handloom Development Corporation Ltd. (NEHHDC), Ministry of Development of North-Eastern Region (DoNER) was signed for bilateral, cross-cultural exchange & and promotion of handicrafts, handlooms, textiles, crafts, culture and cuisine of the state of Haryana and North-East India.
• The Indian women's 4x400m relay team featuring Vithya Ramraj, Aishwarya Mishra, Prachi and Subha Venkatesan won the silver medal at the 19th Asian Games.
• The World Bank has decided to maintain India's Gross Domestic Product (GDP) growth projection at 6.3% for the fiscal year 2023-24.
• The government has maintained the interest rates on most small saving schemes unchanged for the third quarter (Q3) of the current financial year.
• Indian Bank, a public sector lender, has implemented a series of digital initiatives to better serve its customers.
• The Asian Development Bank (ADB) has introduced capital reforms to unlock $100 billion in new financing capacity over a decade.
• The World Health Organisation (WHO) recommended a new vaccine, R21/Matrix-M, for the prevention of malaria in children.
• Basohli Pashmina, a more than 100-year-old traditional craft from Jammu and Kashmir’s Kathua district, has got the Geographical Indication (GI) tag.
• The Central Reserve Police Force (CRPF) partnered with the Ministry of Women and Child Development to initiate a cross-country bike expedition called "Yashaswini" with a group of CRPF women bikers.
• Uttar Pradesh has achieved 100% ODF Plus (Open Defecation Free Plus) coverage under the Swachh Bharat Mission (Grameen) Phase II.
• The Bihar government publicly released the findings of its Caste-based Survey.
• Prosus-owned fintech major PayU India’s Chief Executive Officer (CEO) Anirban Mukherjee has been promoted to the role of global CEO of PayU.
• Mohamed Muizzu, representing the Progressive Party of Maldives (PPM) PNC coalition, secured victory in the Maldives Presidential elections.
• Every year 6th October is observed as a World Cerebral Palsy.
• World Smile Day is celebrated on the first Friday of October every year.