Kerala has become the first
state in India to have hallmarking centers in all of its 14 districts. This
was achieved after the inauguration of a hallmarking center in Adimali, Idukki
district, Kerala.
·
This will make Kerala a hub of
gold business and strengthen its claim to being the most reliable market in
India.
Kerala Gold
Business:
i.The gold business in Kerala is worth more than Rs 1 lakh crore with
annual sales of around 250 tonnes.
ii.In Kerala, there are about 12,000 gold merchants and majority of them
are holding Bureau of Indian Standards (BIS) registration.
Hallmarking:
i.Hallmarking is a system of certifying the purity of gold and silver
jewellery/artefacts in India.
ii.The hallmarking system is administered by the BIS, which is the
National Standard Body of India established under ‘Bureau of Indian
Standards (BIS) Act 2016’.
iii.The hallmark will contain the purity of the metal, the name of the
assaying and hallmarking center, and a unique identification number.
·
BIS hallmarking is voluntary
for gold jewellery below 2 grams in weight, but it is compulsory for all gold
jewellery above 2 grams in weight.
HUID number:
i.Intoduced in 2021, Hallmark Unique Identification (HUID) number
is a six digit Alphanumeric code.
ii.HUID will be given to every piece of jewellery at the time of
hallmarking and it is unique for every piece of jewellery.
iii.The jewellery is stamped with the unique number manually at the
Assaying & Hallmarking centre.
iv.Consumers can use the HUID to track their jewellery online and verify
its purity.
The Regional Connectivity
Scheme (RCS) – UDAN (Ude Desh Ka Aam Nagrik i.e. let the country’s
common man fly) Scheme which focuses on improving unserved air routes in
underserved regions of India, completes 6th year in 2023.
·
The RCS-UDAN scheme was
launched as part of the National Civil Aviation Policy (NCAP) 2016 by
the Ministry of Civil Aviation (MoCA) on October 21, 2016, with a
10-year vision.
·
The first RCS-UDAN flight was
inaugurated by Prime Minister (PM) Narendra Modi on 27th April 2017,
connecting Shimla(Himachal Pradesh) to Delhi.
About the RCS
–UDANScheme:
i.The RCS -UDAN Scheme was launched to promote regional air connectivity
by making flying affordable for the common citizens.
ii.It encourages airlines to operate flights on regional and remote
routes by enabling policies and extending incentives from the Central
Government and State Governments.
·
The government also provides
financial Viability Gap Funding (VGF) support to airlines operating
on UDAN routes.
Salient features
of the scheme:
i.RCS-UDAN is contributing to the growth of the civil aviation industry
as four new & successful airlines have come up in the last 6 years.
·
The scheme has helped airline
operators to start up and develop a sustainable business model.
ii.Promoting tourism: It promotes tourism by
connecting destinations such as Khajuraho(Madhya Pradesh), Deoghar(Jharkhand),
Amritsar(Punjab), and Kishangarh (Ajmer – Rajasthan) with bigger cities.
·
UDAN upsurge Northeast
region’s tourism industry by introducing accessibility to Pasighat, Ziro,
Hollongi, and Tezu airports in Arunachal Pradesh.
·
It boosts air connectivity by
operationalizing 75 airports including Eight airports in the Northeast region.
iii. Boosting air
connectivity: Totally
499 UDAN routes have been operationalized as of 17th October 2023.
·
RCS-UDAN has facilitated the
travel of over 1.3 crore passengers so far.
·
The airports that were
operationalized under UDAN such as Darbhanga(Bihar), Hubli(Karnataka),
Kannur(Kerala) and Mysuru(Karnataka) have become sustainable with many non-RCS
commercial flights operating from these airports.
Versions of the
Scheme:
i.Since 2016, various versions of the RCS-UDAN Scheme have been launched
including UDAN 1.0, UDAN 2.0, UDAN 3.0, UDAN 4.0, UDAN 5.0, UDAN 5.1, and UDAN
5.2.
ii.UDAN 5.0 was launched in 2023 and is aimed at Category-2
(20-80 seat) and Category-3 (>80 seat) aircraft.
iii.UDAN 5.1 is specifically intended for helicopter routes, broadening
the scope of operations for helicopter operators, improving VGF, and lowering
Airfare Caps.
iv.Bidding for the UDAN 5.2 is currently underway in order to improve
connectivity to remote and regional areas of the country, provide last-mile
connectivity, and offer impetus to the tourism sector via small aircraft (20
seats).
The Indian Red Cross Society (IRCS),
Andhra Pradesh(AP), has signed a first of its kind Memorandum of
Understanding (MoU) with the National Cadet Corps (NCC) to
enroll NCC students as Youth Red Cross(YRC) Volunteers in Andhra
Pradesh(AP).
·
Signatories: V.M. Reddy, Air Commodore and Deputy Director General of
NCC (AP and Telangana) and A.K. Parida, General Secretary of Indian Red Cross
Society, A.P. State branch, signed an MoU in Andhra Loyola College (ALC)
at Vijayawada(AP).
·
Under this MoU, the IRSC AP
will instruct NCC cadets in first aid, CPR, and disaster relief. NCC Cadets
will be encouraged to donate blood in times of need and to participate in
environmental activities to combat climate change.
·
As a YRC Volunteer, NCC
students will extend services during emergencies in AP.
The Indian Air Force(IAF)has
signed a contract with an Indian manufacturer for the procurement of automatic
weather stations at 82 IAF locations.
·
This technology advancement
will significantly improve aerospace safety by providing real-time weather
updates throughout flight operations and training.
·
This procurement is especially
crucial for India’s strategic positions, including Daulat Beg Oldie(Ladakh),
the highest airstrip at 16,700 feet, as well as Fukche and Nyoma in Ladakh,
which have been approved for conversion into fully operational fighter bases.
·
This procurement will also
help several advanced landing grounds (ALGS) in Ladakh, including Tuting,
Vijaynagar, Walong, Ziro, and Tawang, as well as various high-altitude
helipads.
Note:
The measurement of meteorological characteristics such as ambient temperature,
wind speed, wind direction, humidity, and atmospheric pressure is critical for
safe aircraft and helicopter landings and takeoffs.
India and the European Union(EU)
conducted their first joint naval exercise in the Gulf of Guinea on 24th
October 2023. The exercise was designed to uphold the United Nations
Convention on the Law of the Sea (UNCLOS).
·
The exercise took place after
the third meeting of the EU-India Maritime Security Dialogue, which was
held in Brussels on October 5, 2023.
Participated
Ships:
i.The exercise involved the Indian Navy’s Offshore Patrol Vessel Indian
Naval Ship (INS) Sumedha
ii.Ships of 3 EU member states(Italy, France and Spain) also
participated the exercise. They are:
·
Italian Ship Foscari –
Italian Navy
·
French Ship(FS) Ventôse – French
Navy
·
Spanish Ship Tornado – Spanish
Navy.
Activities
Carried Out:
i.The exercise included a variety of activities, including tactical
maneuvers, boarding exercises, and flying exercises using the helicopters
embarked on FS Ventôse and INS Sumedha and the transfer of personnel between
ships.
ii.It was designed to reinforce naval maritime security cooperation in
support of the region.
iii.These activities showcase the shared commitment of India and the EU
to supporting coastal States and the Yaoundé Architecture in ensuring
maritime security in the Gulf of Guinea.
What is Yaoundé Architecture?
i.The Yaoundé Architecture is a regional framework for maritime security
cooperation to prevent and prosecute illicit activities in the Gulf of Guinea.
ii.It was established in 2013 by
·
Economic Community of West
African States (ECOWAS)
·
Economic Community of Central
African States (ECCAS)
·
Gulf of Guinea Commission
(GGC)
iii.The Yaoundé Architecture comprises the
Interregional Coordination Centre (ICC), which acts as the coordination and
information-sharing hub.
·
ICC connects the Regional
Maritime Security Centre for Central Africa (CRESMAC) and the Regional Maritime
Security Centre for West Africa (CRESMAO).
Additional Info:
A knowledge sharing session on the joint experience at sea to improve
operational know-how was held in Accra, Ghana.
·
This helped to strengthen ties
between Ghanaian officials and representatives from India, the EU, and EU
member states.
About Ghana:
President – Nana Akufo-Addo
Capital – Accra
Currency – Ghanaian Cedi
Reserve Bank of India(RBI) has
granted in-principle authorization to MobiKwik’s payment gateway arm
Zaakpay to operate as an online payment aggregator (PA).
·
This will enable Zaakpay to
onboard new merchants onto its platform for processing online payments and
scale the number of merchants associated with the startup.
Background:
i.RBI rejected Mobikwik’s application for PA licence in 2021 and the
same was re-applied in October 2022.
ii.In 2021, the application was rejected since Mobikwik fell short of of
minimum net worth threshold of Rs 15 crore.
·
In 2021, the net worth of
Zaakpaya was at Rs 14.3 Cr, rendering it ineligible for the licence.
RBI Guidelines:
In March 2020, RBI issued Guidelines on Regulation of Payment Aggregators and
Payment Gateways and introduced various measures for payment aggregators
operating in India.
Payment Aggregators(PAs): PAs are entities that facilitate
e-commerce sites and merchants to accept various payment instruments from the
customers. This eliminates the need for for merchants to set up their own
payment integration system PAs facilitate merchants to connect with acquirers.
In this process they accept payments from customers, pool and transfer them on
to the merchants after a time period.
Payment Gateways(PGs): PGs are entities that provide technology
infrastructure to route and facilitate processing of an online payment
transaction without any involvement in handling of funds.
Capital Requirements for PAs:
Existing PAs: PAs should achieve a net-worth of Rs 15 crore by March 31,
2021 and a net-worth of Rs 25 crore by the end of the third financial
year(March 31, 2023).
New PAs: PAs shall have a minimum net-worth of Rs 15 crore at the
time of application and shall attain a net-worth of Rs 25 crore by the
end of third financial year of grant of authorisation.
Note: The net-worth of Rs 25 crore shall be maintained at all
times thereafter.
Onboarding:
i.Only the existing companies, which have received RBI’s in-principle
approval, is allowed to onboard merchants on their platforms.
ii.But, PAs such as Razorpay, PayU, Cashfree, and Paytm are being barred
from onboarding new merchants, despite receiving the in-principle approval.
About MobiKwik:
Founders – Bipin Preet Singh and Upasana Taku
Managing Director (MD) & Chief Executive Officer (CEO) – Bipin Preet
Singh
Headquarters – Gurugram, Haryana
Established in – 2009
Bank of Baroda(BoB) launched
a lifetime zero-balance savings account called the Bob LITE Savings Account as
a part of “BOB Ke Sang Tyohaar Ki Umang” festive campaign.
·
The Bob LITE Savings Account
comes with a lifetime-free RuPay Platinum debit card (subject to
maintaining a quarterly average balance(QAB)).
Eligibility:
The account can be opened by any resident individual, including minors (above
10 years).
QAB:
i.The QAB to be maintained is based in the locality. QAB will be
·
Rs. 3000 for Metro/Urban
areas,
·
Rs. 2000 for Semi-Urban
area
·
Rs. 1000 for Rural areas
ii.If QAB is not maintained, an Annual fee on the
debit card will be applied as per the Bank’s guidelines.
BoB Unveils Festive Campaign:
i.In September 2023, BoB launched the “BOB Ke Sang Tyohaar
Ki Umang” festive campaign.
·
The campaign will run up to
31st December 2023.
ii.As part of the campaign, BoB introduced four
savings accounts catering to diverse needs:
·
BOB LITE Savings Account (No
Minimum Balance)
·
BOB BRO Savings Account: Zero
Balance Savings Account for Students (16 to 25 years)
·
My Family My Bank/BOB Parivar
Account: A Comprehensive Family Savings Account
·
Baroda Non-Resident Indian
(NRI) PowerPack Account: A Tailored Account for Non-Resident Indians
iii.BoB also introduced a recurring deposit scheme
called the BOB Systematic Deposit Plan (SDP).
iv.BoB has partnered with leading brands across various categories,
including Electronics, Consumer Durables, Travel, Food, Fashion, Entertainment,
Lifestyle, Grocery, and Health, to provide exclusive offers and discounts to
its debit and credit cardholders.
·
This initiative aims to
enhance the festive shopping experience while promoting financial prudence.
About Bank of Baroda(BoB):
Managing Director (MD) & Chief Executive Officer (CEO) – Devdutt
Chand
Headquarters – Vadodara, Gujarat (Head office), Mumbai, Maharashtra
(Corporate centre)
Established in – 1908
Tagline – India’s International Bank
His Royal Highness (HRH)
Sultan Ibrahim ibni Almarhum Sultan Iskandar, the Ruler of the southern
Malaysian state of Johor, was elected as the 17th King of Malaysia, also
known as Yang di-Pertuan Agong (YDPA) XVII, for a term of 5
years, which will begin on 31st January 2024.
·
He was elected by the Conference
of Rulers during its 263rd (Special) meeting held at the National
Palace(Istana Negara) in Kuala Lumpur, Malaysia.
·
He will replace incumbent
Sovereign Al-Sultan Abdullah ibni Sultan Ahmad Shah, Ruler of Pahang state,
who has been serving as the 16th King since 2019. His tenure is set to end on
30th January 2024.
Significance:
For the first time in over 3 decades, the Ruler of Johor has been
appointed as the YDPA.
·
The last YDPA from Johar was
the late former Johor Ruler, Sultan Iskandar Sultan Ismail, Father of
Sultan Ibrahim. He served as YDPA of Malaysia from 1984 to 1989.
Other
Appointment:
Sultan of Perak, Sultan Nazrin Muizzuddin Shah, will be
appointed deputy king, for 5 years from 31 January 2024.
Malaysia’s Rotational Monarchy:
i.Under Malaysia’s rotational monarchy, the position of king, also known
as Yang di-Pertuan Agong, and his deputy are shifted among the rulers of nine
of its 13 states.
ii.The King of Malaysia is elected by the Conference of Rulers, which
consist of 9 hereditary ethnic Malay royals(sultans of 9 of its 13 states)
iii.This system was adopted after the independence from British rule in
1957.
Note:
The Johor royal family dates from the early 16th century and has its own
private army.
About Sultan Ibrahim ibni Almarhum Sultan
Iskandar:
i.Born on 22 November 1958, Sultan Ibrahim is of Malay-British descent
and he is the eldest son of the late Sultan Iskandar Sultan Ismail.
ii.He enlisted and trained as a Royal Malaysian Navy officer for 3
months at the RMN base in Lumut (Malaysia), making him a fully trained army,
navy, and air force officer.
iii.He served the State government in various offices among them the
State Secretariat, the Treasury, Land Office, Town and Country Planning Department,
etc.
iv.His reign as Sultan of Johor began on 23 January 2010, following the
demise of his father.
v.He created history by gaining the Class 26 Train Driver’s License upon
completing the 86-tonne locomotive round using a turn table device.
·
He also received
acknowledgment from the Malaysia Book of Records (MBOR) as the first Malay
Ruler to officially drive a train.
About Malaysia:
Capital– Federal Territory of Kuala Lumpur
Prime Minister– Anwar Ibrahim
Currency– Malaysian Ringgit (MYR)
The government of India has
appointed the Boston Consulting Group (BCG), a global consulting
firm, to help prepare the Vision 2047 document, outlining India’s
medium-term objectives for becoming a developed economy in the next 25 years.
The document will emphasise strategic measures to elevate India to a
middle-income country.
·
The Vision 2047 document will
emphasise leveraging India’s expertise in the industry, services, agriculture,
trade, and human capital, along with a focus on enhancing governance systems
and public goods accessibility.
·
Ensuring inclusive economic
growth will be a pivotal component of this Vision 2047 document. The
government, think tanks, and various external agencies are actively involved in
shaping the vision document implementation.
· The National Institution for Transforming India (NITI) Aayog is taking the lead in consolidating these diverse suggestions and inputs.
The Competition Commission of
India (CCI) has approved the re-balancing of the existing
cross-shareholdings between Renault S.A. (Renault) and Nissan Motor Co. Ltd.
(Nissan)(Rebalancing).
·
This also relates to the
changes to the shareholding of 2 of their joint ventures(JV) Renault
Nissan Automotive India Private Limited (RNAIPL) and Renault Nissan
Technology & Business Centre India Private Limited (RNTBCI) in
India.
Note:
·
RNAIPL is dedicated to
manufacturing and assembly of passenger vehicles and offers related services
exclusively to Renault and Nissan.
·
RNTBCI is a captive automotive
technology and business center supporting Renault and Nissan’s Research and
Development (R&D), engineering, and so on.
Details of the
Re-balancing:
i.As part of the Rebalancing, Nissan will maintain a 15% share in
Renault through Nissan Finance Co. Ltd. (NFC).
ii.Renault will transfer 28.4% of its Nissan shares to a trust estate
administered by a trustee governed by French law. The entrusted shares will
be voted neutrally, with few exceptions.
iii.Renault will continue to benefit fully from the economic rights of
the entrusted shares until their eventual sale.
iv.Following this re-balancing, Renault and Nissan will have a
cross-shareholding of 15% of the total issued share capital and freely
exercisable voting rights in each other.
Nissan: Nissan and its affiliates in India focus on the sale of
passenger vehicles and automotive parts, conducted through Nissan Motor India
Private Limited (NMIPL), a wholly-owned subsidiary of Nissan.
Renault: Renault and its affiliate entities in India, sell automobiles
and parts through its wholly-owned subsidiary Renault India Private Limited
(RIPL).
About Competition Commission of India (CCI):
Chairperson– Ravneet Kaur
Established in– 2003
Headquarters– New Delhi, Delhi
Scientists under the Bioenergy
Group at the Agharkar Research Institute (ARI) in Maharashtra,
identified a New Genus of anaerobic lignocellulose-degrading bacteria called Sporanaerobium hydrogeniformans in
the hot spring of Aravali, located in Ratnagiri district (Maharashtra).
This bacteria has a remarkable ability to produce hydrogen gas as a
byproduct of its metabolic processes.
·
The hydrogen generated by this
bacteria could be a source of clean and Renewable Energy. The findings are
published in the journal Archives of Microbiology.
·
Sporanaerobium hydrogeniformans
is part of the Lachnospiraceae family, renowned for its polysaccharide
degradation capabilities to synthesise free or complicated hydrolytic enzymes.
·
Sporanaerobium hydrogeniformans
is crucial for breaking down cellulose and xylan, the key components of
lignocellulosic agricultural waste.
·
A collection of thermostable
hydrolytic enzymes reported in Sporanaerobium hydrogeniformans makes the
bacterium significant for use in industry.
·
The researchers also
discovered that the bacteria can grow optimally at high temperatures of 45–50°C
and an alkaline pH of 8.0.
Note:
·
Unlike most bacteria, this
strain can simultaneously utilize hexose and pentose sugars. This unique
characteristic positions the bacterium as a vital asset in the industrial
production of biofuels.
· ARI is an autonomous institute of the Department of Science and Technology.
Raghuram Rajan, Former Governor of the
Reserve Bank of India (RBI), and Economist Rohit Lamba has
authored a new book titled “Breaking the Mould: Reimagining India’s Economic
Future”.
·
The book, published by Penguin
Business, an imprint of Penguin Random House India (PRHI), is set to be
released in December 2023.
About the book:
i.Through this book, the authors provides an idea about the economic
future of India.
ii.The book examines crucial policy choices relevant to every Indian,
offering valuable insights on economic development.
iii.The book seeks to delve into some of the critical questions
surrounding India’s economic trajectory.
About Raghuram Rajan:
i.He is currently a distinguished service professor at the University of
Chicago Booth School of Business, and a senior fellow (adjunct) at the Hoover
Institution, the United States of America (USA).
ii.He served as the 23rd Governor of the RBI from 2013 to 2016 and as
vice chairman of the board of the Bank for International Settlements from 2015
to 2016.
iii.He was a chief economist and director of research at the
International Monetary Fund(IMF) from 2003 to 2006 and as president of
the American Finance Association in 2011.
iv.He is a member of the American Academy of Arts and Sciences and the
Group of Thirty.
Award: In January 2003, the American Finance Association awarded him the
inaugural Fischer Black Prize for the best finance researcher under the
age of 40.
Books: The Third Pillar: How Markets and the State Leave the Community
Behind (2019); I Do What I Do: On Reform, Rhetoric, and Resolve (2018); Saving
Capitalism from the Capitalists with Luigi Zingales (Co-author) (2003)
About Rohit Lamba:
i.Rohit Lamba is a Assistant Professor of Economics at the The Pennsylvania
State University (since 2015)
ii.He was a visiting assistant professor of economics at the University
of Pennsylvania from 2018-19.
ii.He served as the office of the Chief Economic Advisor, Government of
India from 2012-2013, and in 2014.
Books:
Industrial Policy Redux (2023); Has India really become a mobile phone
manufacturing giant? (Co-author) (2023); How services can create next wave of
India’s globalisation (Co-authored with Raghuram Rajan)(2023).
International Dwarfism
Awareness Day, also known as World
Dwarfism Day, is annually observed across the globe on 25th October
to raise awareness about achondroplasia, a bone growth disorder that
causes dwarfism due to a genetic mutation in the arms and legs.
·
25th October 2023 marks the observance of 12th International Dwarfism
Awareness Day.
What is
Dwarfism?
i.Dwarfism is a group of conditions that cause short stature. It is
generally defined as an adult height of 4 feet 10 inches (147 centimeters) or
less. They have short arms and legs in comparison to the head and trunk.
ii.There are over 200 different types of dwarfism, each caused by a
different genetic or medical condition.
iii.Achondroplasia is a Greek word meaning “without cartilage
formation”. This is one of the most common causes of dwarfism.
Background:
i.International Dwarfism Awareness Day was established by ‘Little
People of America(LPA)’ to commemorate the birth anniversary of Billy
Barty (born as William John Bertanzetti), an American actor
who had dwarfism(achondroplasia).
ii.The first International Dwarfism Awareness Day was observed on 25th
October 2012.
About Billy Barty:
i.Billy Barty was born on 25th October 1924 in
Millsboro, Pennsylvania, United States of America (USA).
ii.He appeared in over 200 films and television shows, and was a
tireless advocate for people with dwarfism.
iii.In 1957, Billy Barty founded LPA, a non-profit organization that
provides support, resources, and information to people of short stature and
their families.
Observance in India:
i.International Dwarfism Awareness Day is observed in India by the
Department of Empowerment of Persons with Disabilities (DEPwD) under the
Ministry of Social Justice and Empowerment(MoSJ&E).
ii.DEPwD conducted various activities like Awareness
Programmes, Interview sessions, poster making, Webinars and Panel
Discussion at more than 20 places across India.
The United Nations (UN) World Day for
Audiovisual Heritage (WDAH) is annually observed across the globe on
27 October to remind us of the significance of archiving and preserving
Audiovisual (AV) sources, and to honour the AV preservation professionals and
institutions that safeguard our heritage for future generations.
·
The 2023 theme of WDAH
is “Your Window to the World”.
WDAH celebration is a key
initiative of the United Nations Educational, Scientific and Cultural
Organization (UNESCO) and the Coordinating Council of Audiovisual
Archives Associations (CCAAA).
Background:
i.In 2005, UNESCO adopted the resolution (33 C/Resolution 53) during the
33rd session of the UNESCO General Conference held in Paris, France, and
proclaimed the 27 October of every year as the World Day for Audiovisual
Heritage (WDAH).
ii.The resolution also commemorated the 25th anniversary of the
adoption of the Recommendation for the Safeguarding and Preservation of
Moving Images.
ii.The first-ever WDAH was observed on 27 October 2006.
Infantry Day is annually
observed across the nation on 27th October by Indian Army to
commemorate the contributions of the Infantry, the largest fighting arm of the
Indian Army.
·
27th October 2023 marks the observance of the 77th Infantry Day.
i.On 27th October 1947, 1st military event of
Independent India which took place in the Kashmir Valley against Pakistani
invaders.
ii.The Infantry (popularly known as the ‘Queen of the Battle’) is one
among the four major combat arms of the Indian Army.
About Indian Army:
Chief of the Army Staff – General Manoj Pande
Headquarters – New Delhi, Delhi
Established – 1895
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