Daily Current Affairs October 01 & 02 2023 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

Karnataka Bank Introduces ‘Doorstep Gold Loan Facility’ Named KBL-Swarna Bandhu in Partnership with SahiBandhu

• Karnataka Bank has partnered with SahiBandhu, an aggregator platform for gold loans backed by the Manipal Group, to launch ‘doorstep gold loan’ facility named ‘KBL-Swarna Bandhu’.

Key Highlights :

• The key feature of this initiative is the provision of a doorstep gold loan facility.
• This means that customers can avail of gold loan services from the bank without having to visit a physical branch.
• The bank’s representatives will visit the customer’s location to facilitate the gold loan process.
• Initially, the ‘KBL-Swarna Bandhu’ product will be available to customers in select centres or branches of Karnataka Bank.
• It will be gradually expanded to cover all branches of the bank.

About Karnataka Bank :

• Established : 18 February 1924
• Headquarters : Mangalore, Karnataka, India
• MD & CEO : Srikrishnan Hari Hara Sarma
• Tagline : Your Family Bank Across India

About SahiBandhu :

• Headquarters : Gurugram, Haryana
• CEO : Rajesh Shet

RBI Cancels Licence Of Nashik Zilla Girna Sahakari Bank Limited, Nashik, Maharashtra

• The Reserve Bank of India (RBI) has cancelled the banking license of Nashik Zilla Girna Sahakari Bank Limited, which is located in Nashik, Maharashtra.

Reason :

• It does not have adequate capital and earning prospects.
• Additionally, the bank has failed to comply with the requirements of provisions of the Banking Regulation Act, 1949.
• As a result of the license cancellation, the bank is prohibited from conducting the business of ‘banking’ with immediate effect.
• This includes accepting deposits and making repayments to depositors.
• Depositors of the bank are eligible for deposit insurance coverage provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC).
• Each depositor is entitled to receive a deposit insurance claim amount of up to Rs 5 lakh.
• According to the data submitted by the bank, a significant majority of depositors, specifically 99.92%, are entitled to receive the full amount of their deposits from DICGC.
• DICGC has already disbursed Rs 16.27 crore of the total insured deposits based on the willingness received from the concerned depositors of the bank.

Recent News :

• In Sep 2023, The Reserve Bank of India (RBI) cancelled the license of The Kapol Co-operative Bank over inadequate capital and earning prospects.

CURRENT AFFAIRS : NATIONAL NEWS

Dharmendra Pradhan Unveils CRIIIO 4 GOOD Modules to Promote Gender Equality and Empower Youth 

• Union Minister for Education and Skill Development & Entrepreneurship Shri Dharmendra Pradhan launched ‘CRIIIO 4 GOOD’, a new online, life skills learning module, to promote gender equality among girls and boys.
• It consists of 8 cricket-based animation films aimed at promoting gender parity, equipping girls with life skills, and encouraging their participation in sports.
• The program was launched in collaboration with key organizations, including the International Cricket Council (ICC), United Nations Children’s Fund (UNICEF), and the Board of Control for Cricket in India (BCCI).

Key Highlights :

• CRIIIO 4 GOOD’ is available in 3 languages: English, Hindi, and Gujarati, making it accessible to a wider audience.
• The themes of the 8 modules are: leadership, problem-solving, confidence, decision-making, negotiation, empathy, teamwork and goal setting and are visualized through state-of-the-art animation using cricketing examples.
• Smriti Mandhana shared the first learning modules of ‘CRIIIO 4 GOOD’ with over 1000 school children at the stadium.
• The modules are designed to be highly engaging, using the power of cricket to convey essential life skills and promote gender equity among girls and boys in an interactive and enjoyable manner.

About UNICEF :

• Established : 1946
• Headquarter: New York City, United States.
• Executive Director : Catherine M. Russell
• It is a specialised agency of the United Nations dedicated to providing humanitarian and developmental assistance to children and mothers in developing countries.

About Ministry of Education :

• Cabinet Minister : Dharmendra Pradhan
• Minister of State : Subhas Sarkar, Annapurna Devi Yadav, Rajkumar Ranjan Singh

Prime Minister Shri Narendra Modi launches ‘Sankalp Saptaah’, a week-long programme for Aspirational Blocks

• ‘Sankalp Saptah,‘ a week-long program for Aspirational Blocks, will be inaugurated by Prime Minister Shri Nrendra Modi on September 30, 2023 at Bharat Mandapam, New Delhi, Delhi.
• Sankalp Saptah’ is aimed at facilitating the effective implementation of the Aspirational Block Program (ABP) in India.
• The Aspirational Block Program was originally launched by the Prime Minister on January 7, 2023.
• The primary objective of ABP is to enhance governance at the block level and improve the overall quality of life for citizens.
• ABP is being implemented in 500 aspirational blocks, spread across 329 districts in India.
• Starting from October 3 to October 9, 2023, each day of the ‘Sankalp Saptah’ is dedicated to a specific development theme on which all the aspirational blocks will work.
• The themes for the first six days include ‘Sampoorna Swasthya’, ‘Suposhit Pariwaar’, ‘Swachhta’, ‘Krishi’, ‘Shiksha’, and ‘Samridhi Diwas’.
• The work accomplished during the entire week will be celebrated as ‘Sankalp Saptaah–Samavesh Samaroh’ on the last day, which is October 9, 2023.

About ABP :

• ABP was launched on January 7, 2023, on the lines of the Aspirational District Programme that was launched in 2018 and covers 112 districts across the country.
• Aim: Enhancing governance and improving the quality of life in 500 Aspirational Blocks spanning 329 districts across India.
• Over half of these blocks are in 6 states: Uttar Pradesh (68 blocks), Bihar (61), Madhya Pradesh (42), Jharkhand (34), Odisha (29) and West Bengal (29).
• It will be attained by converging existing schemes, defining outcomes, and monitoring them on a constant basis, enabling holistic development in areas that require added assistance.

IndianOil Introduces India’s First Green Hydrogen-Powered Bus Emitting Only Water

• Indian Oil Corporation (IOC), India’s leading oil firm, has unveiled the nation’s first green hydrogen-powered bus.
• This bus emits only water as a byproduct, making it an environmentally friendly transportation solution.

Key Highlights :

• IOC will produce approximately 75 kg of hydrogen by using a process called electrolysis, which involves splitting water using electricity generated from renewable sources.
• The green hydrogen will be utilised to power two buses that will operate in the National Capital Region (NCR).
• The adoption of hydrogen as a fuel source aligns with India’s efforts to transition away from fossil fuels and reduce environmental impact.
• The Indian Oil Corporation Research and Development Center, located in Faridabad, is responsible for producing green hydrogen for this pilot run.
• The buses will be equipped with four cylinders, each filled with 30 kg of hydrogen.
• These cylinders can be refilled in just 10-12 minutes, allowing for efficient and convenient operation.
• Hydrogen as a fuel offers a 3-fold increase in energy density compared to conventional fuels and does not emit harmful emissions, contributing to cleaner air quality.
• The production of 1 kg of hydrogen requires 50 units of renewable electricity and 9 kg of deionized water.
• India boasts one of the largest synchronous grids in the world, making it a suitable candidate for the integration of renewable hydrogen production.
• Oil and gas Public Sector Undertakings (PSUs) in India are aiming to produce approximately 1 million tonnes per annum of green hydrogen by 2030, marking a significant shift toward sustainable energy sources.

About IOC :

• Founded : 30 June 1959
• Headquarters : New Delhi, Delhi
• Chairman : Shrikant Madhav Vaidya
• The IOCL is an Indian multinational oil and gas company under the ownership of the Ministry of Petroleum and Natural Gas, Government of India.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Russia Seeks Reinstatement in UN Human Rights Council One Year After Removal

• Russia is seeking to rejoin the United Nations Human Rights Council (UNHRC) after being removed from the council in April 2022.
• Russia is actively lobbying member nations to gain support for its position paper at the UN, signalling its desire to return to the UNHRC.
• Russia aims to rejoin the UNHRC with the belief that it will help restore its international credibility and potentially address allegations of human rights abuses associated with President Vladimir Putin’s regime.
• Russia was removed from the UNHRC in April 2022 due to allegations of human rights violations by Russian soldiers in Ukraine.
• The motion to remove Russia was introduced by the United States and garnered 93 votes in favour.
• To remove a member from the UNHRC, a two-thirds vote of the total members is required, highlighting the significance of the decision to remove Russia.
• A report by Special Rapporteur Mariana Katzarova detailed mass arbitrary arrests of critics of the war by Russian authorities, contributing to the concerns raised by the international community.

About UNHRC :

• Established : 15 March 2006
• Headquarters : Geneva, Switzerland
• President : Vaclav Balek
• United Nations Human Rights Council (UNHRC) is a body of the United Nations.
• It aims to promote and protect human rights worldwide.
• It has 47 members.
• Its members are elected for a 3 -year term.

About Russia :

• President : Vladimir Putin
• Prime Minister : Mikhail Mishustin
• Capital : Moscow
• Currency : Ruble

CURRENT AFFAIRS : BUSINESS NEWS

India demands $150 mn in taxes from Tiger Global-backed gaming firm Dream11                        

• The Income Tax Department of India has issued a demand for approximately $150 million in taxes from Dream11, covering the years 2017 to 2019.
• Dream11 has taken legal action by filing a case in the High Court in Mumbai.
• The company is challenging the notices received from the tax authorities, which seek an explanation as to why it should not be compelled to pay the tax shortfall.
• The dispute centres around the taxation of Dream11’s revenue.
• While Indian tax authorities are demanding a higher 28% tax on the total gaming revenue received from players, Dream11 argues that it should be taxed on the fees it charges its users.
• The tax authorities have given Dream11 a 30-day window to provide justifications for not paying the shortfall, which amounts to 2.1 billion rupees (approximately $26.07 million) for the fiscal year 2017–18 and 10 billion rupees (around $120.85 million) for the fiscal year 2018–19.
• Tax officials are also extending their examination to Dream11’s tax payments for an additional four years, spanning up to March 2023.

About Dream11 :

• Established : 2008
• Headquarters : Mumbai, Maharashtra, India
• Dream11 is an Indian fantasy sports platform.
• In April 2019, Dream11 became the first Indian fantasy sport company to become a unicorn.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

RBI Approves International Finance Corporation’s Acquisition of 9.7% Stake in Federal Bank                               

• The Reserve Bank of India (RBI) has granted its approval to the International Finance Corporation (IFC) for acquiring a 9.7% stake in Federal Bank.
• IFC currently holds a 1.34% stake in the bank.
• The RBI’s approval is contingent on the IFC’s adherence to various regulatory requirements, including provisions of the Banking Regulation Act, 1949, RBI’s Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023 (as amended), provisions of the Foreign Exchange Management Act, 1999, regulations issued by the Securities and Exchange Board of India (SEBI), and any other applicable guidelines, regulations, and statutes.
• In 2023, the Kerala-based private sector lender, Federal Bank, raised ₹959 crore through a preferential issue of shares to a member of the World Bank Group.
• Apart from the RBI, the acquisition of this stake may also be subject to compliance with regulations and guidelines from other regulatory bodies.

Recent News :

• In Sep 2023, HDFC Asset Management Company (AMC) received approval to increase its stake in Federal Bank to 9.50%.

About Federal Bank :

• Headquarters : Aluva, Kochi, Kerala, India
• MD & CEO : Shyam Srinivasan
• Tagline : Your Perfect Banking Partner

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Lieutenant General Raghu Srinivasan Assumes the Role of Chief of the Border Roads Organisation

• Lieutenant General Raghu Srinivasan assumed the role of the 28th Director General Border Roads (DGBR).
• He took charge following the retirement of Lieutenant General Rajeev Chaudhry.
• Before becoming the DGBR, Lieutenant General Raghu Srinivasan held the position of Commandant at the College of Military Engineering in Pune, Maharashtra.

About Lieutenant General Raghu Srinivasan :

• Lt Gen Raghu Srinivasan is an alumnus of the National Defence Academy (NDA) in Khadakwasla and the Indian Military Academy (IMA) in Dehradun.
• He was commissioned into the Corps of Engineers in 1987.
• He has participated in several significant military operations, including Operation Vijay, Operation Rakshak, and Operation Parakram.
• He has extensive experience serving in border areas, particularly in Ladakh, Arunachal Pradesh, and Jammu & Kashmir.
• He has completed various professional military courses, including those at the Defence Services Staff College, Higher Command, and the National Defence College.
• Throughout his career, he held critical command positions such as the Command of 58 Engineer Regiment & 416 Engineer Brigade.
• His career includes appointments as Deputy Director General, Discipline and Vigilance at HQ of MoD (Army), Commandant of the Bengal Engineer Group & Centre in Roorkee, Chief Engineer Southern Command, and ADG at the Engineer-in-Chief Branch at IHQ of MoD (Army).
• He served as an instructor at the Indian Military Advisory Team in Lusaka, Zambia, and at the Defence Services Staff College.
• For his distinguished service, Lieutenant General Raghu Srinivasan has been honoured with the Vishisht Seva Medal.

About BRO :

• Established : 7 May 1960
• Headquarters : New Delhi, Delhi, India
• The BRO is a statutory body under the ownership of the Ministry of Defence of the Government of India.

Aim :

• To secure India’s borders by developing infrastructure in remote areas of the North and North-Eastern states.

Government Extends the Tenure of Central Board of Direct Taxes Chairman Nitin Gupta until June 2024

• The Union government has extended the tenure of Nitin Gupta, the current Chairman of the Central Board of Direct Taxes (CBDT), until June 30, 2024.
• This extension of 9 months was granted on the same day when Nitin Gupta was originally scheduled to retire and leave office.

About Nitin Gupta :

• Nitin Gupta is a 1986-batch Indian Revenue Service (IRS) officer of the Income-Tax department.
• He was appointed as the Chairman of the CBDT in June 2022.
• Under Nitin Gupta’s leadership, tax collection achieved significant growth. In the fiscal year 2023 (FY23), the CBDT collected net direct taxes totaling ₹16.61 lakh crore.
• This marked a remarkable growth of 17.63 percent when compared to the ₹14.12 lakh crore collected in the preceding fiscal year.

About CBDT :

• Established : 1963
• Headquarters : New Delhi, Delhi
• The CBDT is a part of the Department of Revenue in the Ministry of Finance.
• It is the apex policy-making body for the taxation department.
• It is headed by a chairman and can have 6 members who are in the rank of special secretary.

Former IAS Officer Amit Khare Granted Extension as Advisor to PM Modi

• Former bureaucrat Amit Khare has been granted an extension as an advisor to Prime Minister Narendra Modi.
• He was originally appointed as an advisor for a 2-year term in October 2021.

About Amit Khare :

• Amit Khare is a retired 1985-batch Indian Administrative Service (IAS) officer of the Jharkhand cadre.
• He retired from active service on September 30, 2021.
• Prior to his retirement, he served as the higher education secretary.
• Additionally, the Appointments Committee of the Cabinet (ACC) has approved the extension of Rajesh S Gokhale’s tenure as the secretary of the Department of Biotechnology.
• This extension is for a period of two years, starting from November 1, 2023.

CURRENT AFFAIRS : DEFENCE NEWS

30th edition of Singapore-India Maritime Bilateral Exercise successfully concludes in Singapore

• The 30th edition of the Singapore-India Maritime Bilateral Exercise (SIMBEX) has successfully concluded in Singapore.
• Indian Naval Ships Ranvijay and Kavaratti, the submarine Sindhukesari, and a long-range Maritime Patrol Aircraft P8I participated in the exercise.
• SIMBEX was first initiated in 1994, making it a three-decade-old annual exercise.
• The exercise began with an opening ceremony held on 21st September 2023.
• The exercise included combined aviation, firefighting, and damage control exercises conducted during the exercise period.
• The sea phase of SIMBEX 23 took place from the 25th to the 28th of September, 2023.

About Ministry of Defence :

• Defence Minister : Rajnath Singh
• Minister of State : Ministry of Defence
• Defence Secretary : Giridhar Aramane

CURRENT AFFAIRS : RANKING & INDEX

India Maintains 40th Position in Global Innovation Index 2023                               

• India has retained its 40th rank out of 132 economies in the Global Innovation Index (GII) 2023 rankings, released by the World Intellectual Property Organization (WIPO).
• Over the past years, India has significantly improved its ranking, moving from 81st place in 2015 to its current 40th position in 2023.
• The index tracks the performance of 132 global economies in terms of innovation ecosystem performance.

Top Performers:

• Switzerland has topped the GII ranking for the 13th consecutive year, followed by Sweden and the United States in the 2nd and 3rd positions, respectively.
• The United Kingdom and Singapore are in the 4th and 5th spots.
• China is the only middle-income economy within the top 30 countries in the GII rankings.
• As per the Global Innovation Index 2023, India is among the 21 economies that outperformed for the 13th consecutive year in innovation relative to the level of development.
• India, Iran, Philippines, Turkiye, Vietnam and Indonesia are among the top 65 countries that have climbed fastest in the ranking over the last decade.

About Global Innovation Index :

• Global Innovation Index is a tool for governments across the world to assess the innovation-led social and economic changes in their countries.
• The NITI Aayog in partnership with the CII and the World Intellectual Property Organisation (WIPO) virtually hosted the launch of the Global Innovation Index 2023.
• The Index is built on a rich dataset of 80 indicators from international public and private sources going beyond the traditional measures of innovation since the definition of innovation has broadened.
• In Central and Southern Asia, India (40th) is the best-ranked innovation economy in this region.
• The Islamic Republic of Iran (62nd), Kazakhstan (81st, and a newcomer in the regional top three), and Uzbekistan (82nd) get close to the top 80.
• It holds the record for overperforming on innovation for the 13th consecutive year.
• India holds top rankings in key indicators including ICT services exports (at place 5), VC received (6), graduates in science and engineering (11) and global corporate R&D investors (13).
• Cornell University, INSEAD and the World Intellectual Property Organization annually published and compiled it.
• The overall GII score is the average of the Innovation Input Sub-Index and Innovation Output Sub-Index.
• The GII 2023 is calculated as the average of 2 sub-indices.
• The Innovation Input Sub-Index gauges elements of the economy that enable and facilitate innovative activities and is grouped into 5 pillars:

1. Institutions
2. Human capital and research
3. Infrastructure
4. Market sophistication
5. Business sophistication (see Framework).

• The Innovation Output Sub-Index captures the actual result of innovative activities within the economy and is divided in 2 pillars:

1. Knowledge and technology outputs
2. Creative outputs

About WIPO :

• Founded : 14 July 1967
• Headquarters : Geneva, Switzerland
• Director General : Daren Tang Heng Shim
• Membership : 193 member states

Z/Yen Group and China Development Institute Releases 34th edition of Global Financial Centres Index

• The 34th edition of the Global Financial Centres Index (GFCI 34) was published by Z/Yen Group in partnership with the China Development Institute (CDI).
• The launch of GFCI 34 featured a webinar that connected London and Hong Kong.
• It included contributions from the Hong Kong Financial Services Development Council and the World Alliance Of International Financial Centers.

Top Financial Centres :

• New York retained its position as the top financial centre in the index & it has held the top spot since GFCI 24, published in September 2018.
• London maintained its 2nd position.
• Singapore remained in 3rd place, slightly ahead of Hong Kong in 4th place.
• Washington DC and Geneva entered the top 10 financial centres in this edition, replacing Seoul and Boston.

About GFCI Report :

• The Global Financial Centres Index (GFCI) Report is published twice a year, in March and September, and has been released since 2007.
• GFCI 34 assessed 121 financial centres.
• The GFCI is a ranking of the competitiveness of financial centres based on over 29,000 financial centre assessments from an online questionnaire together with over 100 indices from organisations such as the World Bank, the Organisation for Economic Co-operation and Development (OECD), and the Economist Intelligence Unit.
• The average rating of financial centres in the index increased by over 3.5% compared to GFCI 33.
• This suggests growing confidence in financial centres and the global economy, despite global challenges.
• US centres performed well, with five US centres in the top 10, reflecting the strength of the US economy.

Fintech Rankings :

• New York retained its leading position in the Fintech ranking.
• London surpassed San Francisco to take the second position.
• Shenzhen maintained its fourth place in the Fintech ranking.
• Beijing joined the top 10 for Fintech, alongside other cities like Singapore, Los Angeles, Washington DC, Shanghai, and Chicago, replacing Boston
• Indian Financial Centres: From India, the rankings for financial centres are as follows :
• GIFT City-Gujarat: Ranked 62
• Mumbai: Ranked 66
• New Delhi: Ranked 77

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

NASA Releases Breathtaking Image of Mercury, the Solar System’s Smallest Planet

• The National Aeronautics and Space Administration (NASA) has shared an image of Mercury by MESSENGER (Mercury Surface, Space Environment, Geochemistry and Ranging) spacecraft.
• Mercury is the smallest planet in our solar system, and it holds the distinction of being the closest planet to the Sun, located approximately 36 million miles away from it.

Key Highlights :

• MESSENGER was launched in 2004, and it entered orbit around Mercury in 2011, after a long journey through space.
• The primary objective of the MESSENGER spacecraft was to conduct an in-depth study of Mercury.
• This included investigating its geology, magnetic field, and chemical composition.
• MESSENGER was categorised as the 7th Discovery-class mission, signifying its role in NASA’s efforts to explore and study various celestial bodies within our solar system.
• MESSENGER’s mission was significant as it marked the first time a spacecraft had been sent to orbit Mercury since the Mariner 10 mission, which occurred more than 30 years prior.

About NASA :

• Founded : July 29, 1958
• Headquarters : Washington, D.C, United States of America
• Administrator : Bill Nelson

Iran launches 3rd military satellite to orbit

• Iran launched Noor-3 imaging satellite into space.
• The launch was carried out by the aerospace arm of Iran’s paramilitary Revolutionary Guard.
• The Guard operates its own space program parallel to Iran’s regular armed forces and answers only to Supreme Leader Ayatollah Ali Khamenei.

About Noor-3 imaging satellite :

• It is a satellite with potential spying capabilities, boosting Iran’s abilities in space.
• It has been put in an orbit 450 kilometres (280 miles) above the Earth’s surface.
• It was launched by the three-stage Qased, or messenger carrier.
• The spacecraft’s two predecessors, Noor-1 and Noor-2, launched in April 2020 and March 2022, respectively, also atop Qased rockets.
• Noor-1 fell back to Earth in April 2022, but Noor-2 remains operational and may work in concert with Noor 3 when the latter satellite comes online.

About Iran :

• President : Ebrahim Raisi
• Capital : Tehran
• Currency : Iranian rial

NASA Declares the End of the CALIPSO Mission Focused on Climate, Weather, and Air Quality Analysis                              

• The National Aeronautics and Space Administration (NASA) announced the conclusion of the Cloud-Aerosol LIDAR and Infrared Pathfinder Satellite Observations (CALIPSO) mission, which focused on the analysis of climate, weather, and air quality.

About CALIPSO :

• CALIPSO is a mission dedicated to studying how clouds and aerosols impact the Earth’s climate.
• The CALIPSO mission was a joint project between NASA (National Aeronautics and Space Administration) and CNES (Centre National d’Études Spatiales), the French space agency.
• CALIPSO was launched in the year 2006 and operated for a duration of 17 years.
• It was a satellite-based observatory, collecting data from space.
• Scientists utilised data from CALIPSO to create three-dimensional (3D) models of the Earth’s atmosphere.
• These models were instrumental in enhancing our ability to forecast future climate changes.
• CALIPSO was a member of a constellation of satellites known as the “A-Train.”
• This constellation also included other spacecraft like Aqua, Aura, and PARASOL, all focused on researching Earth’s weather and environment.
• Throughout its 17-year mission duration, CALIPSO’s Cloud-Aerosol Lidar and Infrared measurements (LIDAR) recorded more than 10 billion data points.
• This wealth of data contributed to the creation of numerous scientific reports.

CURRENT AFFAIRS : BOOKS & AUTHORS

One Among You: The Autobiography of M.K. Stalin Vol. 1

• “One Among You” is the English translation of MK Stalin’s autobiography, originally written in Tamil as “Ungalil Oruvan.”
• The translation work was done by AS Panneerselvan, a senior journalist.

About the Book :

• The book primarily covers the period of Stalin’s life from 1953 to 1976, including his experiences during the Emergency when he was arrested under the Maintenance of Internal Security Act (MISA).
• In 1966, MK Stalin initiated his political journey by establishing the Gopalapuram Youth Dravida Munnetra Kazhagam.
• The autobiography provides a chronological account of Stalin’s early years in a politically active family and his eventual ascent to the position of Chief Minister of Tamil Nadu.
• The book takes us on a chronological journey, from Stalin’s formative years in a politically charged household to his eventual rise as the Chief Minister of Tamil Nadu.

“We Also Make Policy”: A Candid Look Inside the Finance Ministry

• We Also Make Policy is a fly-on-the-wall account of the proceedings within the finance ministry.
• The book talks candidly about controversial decisions from the first tenure of the NDA government.
• The primary objective of the book is to offer readers an inside perspective on how economic policies are formulated and modified at the highest echelons of the Government of India.

About the Book :

• In this book, Subhash Chandra Garg, former economic affairs secretary and finance secretary, tells the inside story of how economic policy is made and unmade at the highest levels in the Government of India.
• Subhash Chandra Garg had previously authored two books :
• “The $10 Trillion Dream: The State of Indian Economy and The Policy Reforms Agenda,” published in February 2022, focuses on India’s economic challenges and policy reform agenda.
• “Subhash Chandra Garg’s Explanation and Commentary on Budget 2022–23,” discusses the national budget, including an analysis of Budget 2021–22 and the implementation of Budget 2022–23.
• It aims to establish a national standard for evaluating and commenting on Central government budgets.

Daily CA on Oct 01 & 02 :

• Karnataka Bank has partnered with SahiBandhu, an aggregator platform for gold loans backed by the Manipal Group, for launching ‘doorstep gold loan’ facility named ‘KBL-Swarna Bandhu’.
• The Reserve Bank of India (RBI) has cancelled the banking license of Nashik Zilla Girna Sahakari Bank Limited, which is located in Nashik, Maharashtra.
• Union Minister for Education and Skill Development & Entrepreneurship Shri Dharmendra Pradhan launched ‘CRIIIO 4 GOOD’, a new online, life skills learning module, to promote gender equality among girls and boys.
• ‘Sankalp Saptah,‘ a week-long program for Aspirational Blocks, will be inaugurated by Prime Minister Shri Nrendra Modi on September 30, 2023 at Bharat Mandapam, New Delhi, Delhi.
• Indian Oil Corporation (IOC), India’s leading oil firm, has unveiled the nation’s first green hydrogen-powered bus.
• Russia is seeking to rejoin the United Nations Human Rights Council (UNHRC) after being removed from the council in April 2022.
• The Income Tax Department of India has issued a demand for approximately $150 million in taxes from Dream11, covering the years 2017 to 2019.
• The Reserve Bank of India (RBI) has granted its approval to the International Finance Corporation (IFC) for acquiring a 9.7% stake in Federal Bank.
• Lieutenant General Raghu Srinivasan assumed the role of the 28th Director General Border Roads (DGBR).
• The Union government has extended the tenure of Nitin Gupta, the current Chairman of the Central Board of Direct Taxes (CBDT), until June 30, 2024.
• Former bureaucrat Amit Khare has been granted an extension as an advisor to Prime Minister Narendra Modi.
• The 30th edition of the Singapore-India Maritime Bilateral Exercise (SIMBEX) has successfully concluded in Singapore.
• India has retained its 40th rank out of 132 economies in the Global Innovation Index (GII) 2023 rankings, released by the World Intellectual Property Organization (WIPO).
• The 34th edition of the Global Financial Centres Index (GFCI 34) was published by Z/Yen Group in partnership with the China Development Institute (CDI).
• The National Aeronautics and Space Administration (NASA) has shared an image of Mercury by MESSENGER (Mercury Surface, Space Environment, Geochemistry and Ranging) spacecraft.
• Iran launched Noor-3 imaging satellite into space.
• The National Aeronautics and Space Administration (NASA) announced the conclusion of the Cloud-Aerosol LIDAR and Infrared Pathfinder Satellite Observations (CALIPSO) mission, which focused on the analysis of climate, weather, and air quality.
• “One Among You” is the English translation of MK Stalin’s autobiography, originally written in Tamil as “Ungalil Oruvan.”
• We Also Make Policy is a fly-on-the-wall account of the proceedings within the finance ministry.