Daily Current Affairs October 18 2023 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

ADB Grants $181 Million Loan for Urban Infrastructure Enhancement in Ahmedabad’s Peri-urban Areas

• The Asian Development Bank (ADB) has approved a USD 181 million loan to bolster the quality of urban infrastructure and services, thereby enhancing urban liveability and mobility in the peri-urban regions of Ahmedabad city in Gujarat.

Key Highlights :

• Project Components: The Ahmedabad Peri-urban Livability Improvement Project will encompass several components, including the construction of 166 kilometres of water distribution network, 126 kilometres of climate-resilient stormwater drainage, 300 kilometres of sewerage systems, and 4 sewage treatment plants.
• Connectivity Improvement: The project also includes the enhancement of 10 junctions along the existing Sardar Patel Ring Road to improve connectivity between peri-urban areas and Ahmedabad city.
• Beneficiaries: The project aims to improve urban services and governance, focusing on benefiting the urban poor, women, and migrant workers.
• Capacity Strengthening: ADB will assist in strengthening the capacity of the Ahmedabad Urban Development Authority and urban local bodies in technology-based urban planning, climate-resilient infrastructure, gender equality, and social inclusion.
• Land Development and Town Planning: The project will facilitate land development plans and town planning schemes incorporating these elements, with potential replication in other states for structured urban development.
• Financial Planning: The project also aims to enhance government agencies’ capabilities in financial planning, revenue enhancement, and infrastructure asset operations.
• Community Awareness Programs: Initiatives will be undertaken to promote water conservation, health, and hygiene through community awareness programs.
• Training for Women’s Self-Help Groups: Women’s self-help groups will receive training in water supply operations.
• Recycling of Treated Sewage: The project supports the development of recycling treated sewage for industrial purposes through public-private partnerships.

Recent news :

• In Aug 2023, The Asian Development Bank (ADB) approved a USD 40.5 million loan for integrated early childhood development (ECD) and maternal mental health in Meghalaya.

About ADB : 

• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa
• Membership : 68 members, including 49 regional members (countries in Asia and the Pacific) and 19 non-regional members (countries outside the region)

CURRENT AFFAIRS: NATIONAL NEWS

Union Minister Nitin Gadkari addresses the 5th edition of India STEM Summit 2023 in Delhi

• The Union Minister for Road Transport and Highways Nitin Gadkari informed that need-based research is crucial for India to fulfil the aspirations of society.
• Addressing the 5th edition of India STEM Summit 2023 in New Delhi, the Minister informed that knowledge and innovation are the two important pillars for the growth of any nation.

Key Highlights

• STEM Summit pertains to integrating Science, Technology, Engineering, and Math (STEM) in the education sector resulting in the development of curiosity, inquisitiveness, critical thinking, problem-solving capacities, imagination, questioning and exploration skills among learners.
• The Minister added that knowledge and innovation are the two important aspects to make India the third-largest economy in the world.
• He remarked that India is the fastest growing economy and it is the Prime Minister’s dream to make the country a five trillion dollar economy.
• He added that to achieve it India needs tribal, rural, and agriculture-centric research and innovation.

EAM S Jaishankar participates in the 23rd Council of Ministers meeting of the Indian Ocean Rim Association in Colombo

• India assumed the Vice-Chair role of the Indian Ocean Rim Association (IORA) for 2023-25 at the IORA Council of Ministers meeting in Colombo.
• The Indian delegation was led by Minister of External Affairs Minister (EAM) Dr. S. Jaishankar.
• Sri Lanka is the current Chair of IORA taking over from Bangladesh.
• Sri Lanka will serve as Chair for a period of two years (2023-2025).
• India will take over the chairship of IORA during 2025-27.
• The IORA Council of Ministers Meeting is an annual meeting whereby foreign ministers from the IORA Member States meet to discuss and decide on IORA priorities.

About IORA

• The Indian Ocean Rim Association (IORA) is an inter-governmental organisation formed in 1997 to foster regional economic cooperation.
• IORA has evolved into the peak regional group spanning the Indian Ocean.
• From its inception with 14 member states, the membership has expanded to 23 countries: Australia, Bangladesh, Comoros, France, India, Indonesia, Iran, Kenya, Madagascar, Malaysia, Maldives, Mauritius, Mozambique, Oman, Seychelles, Singapore, Somalia, South Africa, Sri Lanka, Tanzania, Thailand, the United Arab Emirates and Yemen.
• India is one of the founding members of IORA.
• The IORA Secretariat is based in Mauritius.
• It is headed by a fixed-term Secretary-General.

Pharmacopoeial Discussion Group welcomes Indian Pharmacopoeia Commission as a member

• The Pharmacopoeial Discussion Group (PDG) announced the Indian Pharmacopoeia Commission (IPC) as a PDG member, during the PDG Stakeholders meeting in Hyderabad.
• IPC officially joined as a member of the PDG at the PDG’s Annual Meeting which was held on October 3-4, 2023 in Hyderabad.
• The World Health Organisation (WHO) also continues to serve as an observer of the PDG.
• The PDG will now bring together the European Pharmacopoeia (Ph Eur), the Japanese Pharmacopoeia (JP), the United States Pharmacopeia (USP) and the Indian Pharmacopoeia (IP) to harmonize global pharmacopoeial standards.
• IPC was the only Pharmacopoeia body in the world to be selected for the pilot phase initiated in September 2022.
• India was inducted as part of the PDG after a one-year pilot phase, based on IPC’s involvement, contribution and future potential.

About IPC

• IPC is an Autonomous Institution of the Ministry of Health and Family Welfare.
• IPC was created to set standards for drugs in India. Its basic function is to regularly update the standards of drugs commonly required for the treatment of diseases prevailing in this region.

CURRENT AFFAIRS : INTERNATIONAL NEWS

‘Operation Ajay’ Launched to evacuate Indian Nationals from Israel                         

• India has launched Operation Ajay to evacuate Indian nationals from the Israel-Hamas conflict zone.

About Operation Ajay :

• It is an operation to facilitate the return from Israel of its citizens who wish to return.
• A 24-hour Control Room has been set up in the Ministry of External Affairs.
• This has been set up to monitor the situation and provide information and assistance.
• The Representative Office of India in Ramallah has also set up a 24-hour emergency helpline.
• Ramallah is a Palestinian city that serves as the de facto administrative capital of the State of Palestine.
• Operation Ganga was previously launched to repatriate Indian citizens and students from Ukraine.

About Israel :

• President : Isaac Herzog
• Prime Minister : Benjamin Netanyahu
• Capital : Jerusalem
• Currency : New shekel

Tanzania Joins India-Led International Big Cat Alliance (IBCA)                          

• Tanzanian President Samia Suluhu Hassan announced Tanzania’s decision to join the International Big Cat Alliance (IBCA), led by India.

Key Highlights :

• Prime Minister Shri Narendra Modi launched the IBCA on April 9, 2023, in Mysuru, Karnataka, India, as part of the 50th-anniversary celebration of Project Tiger.
• The IBCA focuses on the conservation of 7 big cat species: tigers, lions, leopards, snow leopards, cheetahs, jaguars, and
• Its objectives include fostering global cooperation, mobilizing financial and technical resources, and safeguarding the ecosystems and habitats associated with these species.
• Membership in the IBCA is open to 97 “range” countries, where the natural habitats of these big cats are found, as well as other interested nations and international organizations.
• The IBCA serves as a platform for member nations to exchange knowledge and expertise and provide support for conservation efforts in potential habitats.
• The initial five years of the IBCA are supported by India’s “total grant assistance” of $100 million, and the organisation is expected to become self-sustaining through membership fees, contributions from bilateral and multilateral institutions, and private sector involvement.
• The IBCA structure includes a General Assembly consisting of all member countries, a Council of at least seven but not more than 15 member countries elected by the General Assembly for a 5-year term, and a Secretariat.
• The IBCA Secretary General is appointed by the General Assembly based on the Council’s recommendation for a specific term.

About Tanzania :

• President : Samia Suluhu Hassan
• Prime Minister : Kassim Majaliwa
• Capital : Dodoma
• Currency : Tanzanian shilling

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

MyGov Chief, Akash Tripathi, Appointed as CEO of India Semiconductor Mission                                

• Akash Tripathi, who currently serves as the Chief Executive Officer (CEO) of MyGov, will assume the role of CEO of the India Semiconductor Mission (ISM).
• He will succeed Amitesh Kumar Sinha, whose tenure as the CEO of ISM concluded on October 4, 2023.
• The Indian government has placed significant emphasis on establishing a domestic semiconductor manufacturing ecosystem.
• To support this goal, the India Semiconductor Mission (ISM) was launched in December 2021, with a substantial allocation of $10 billion (₹76,000 crore) in funding.
• The ISM is responsible for evaluating various applications under the semiconductor mission and selecting those that qualify for subsidies
• On 23 September,2023 IT Minister Ashwini Vaishnaw announced a $2.75 billion semiconductor facility by Micron in the Gujarat Industrial Development Corporation area of Chaarodi, Sanand, and the project is scheduled to be operational by late 2024.

PUMA India ropes in Mohammed Shami as brand ambassador                           

• Puma, a prominent sports brand, has appointed Mohammed Shami, the fast bowler from Team India, as its brand ambassador.
• Puma brand has a star-studded roster of brand ambassadors which includes Virat Kohli, champion sprinter Usain Bolt, football stars Neymar Jr and Sunil Chhetri, celebrated boxer MC Mary Kom, cricketers Harmanpreet Kaur and Harleen Deol, and para-shooter Avani Lekhara.
• As part of this partnership, Mohammed Shami will endorse Puma’s range of footwear, apparel, and accessories.
• This collaboration will involve various activities and campaigns throughout the year.

About PUMA India :

• PUMA India is a leading sports brand in the country, involved in the design, development, sale, and marketing of footwear, apparel, and accessories.
• The brand, headquartered in Germany, entered the Indian market in 2006 and established its head office in Bengaluru.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

PLD Space Successfully Launches Recoverable Miura-1 Rocket                         

• Spanish aerospace company PLD Space achieved a significant milestone by successfully launching its recoverable Miura-1 rocket.

About Miura-1 Rocket :

• The Miura-1 rocket, named after a fighting bull, conducted a suborbital test flight with the goal of gathering crucial data for future missions.
• It is a single-stage rocket standing at an impressive 41 feet (12.5 metres) tall.
• It has a payload capacity of approximately 220 pounds (100 kilograms) for suborbital space flights.
• The rocket is designed with the capability for recovery, making it a pioneering project in Europe.
• The primary objective of the Miura-1 rocket’s debut mission was to conduct a suborbital test flight.
• During this flight, an experiment from the German Center of Applied Space Technology and Microgravity was carried out to study microgravity conditions.
• Additionally, PLD Space placed photos of its employees on board to commemorate this milestone moment.
• The mission concluded with the rocket’s splashdown into the Atlantic Ocean.

About PLD Space :

• Founded : 2011
• Headquarters : Elche, Spain
• CEO : Raúl Torres

NASA Launches Spacecraft for Psyche Mission to Explore Metal-Rich Asteroid

• The National Aeronautics and Space Administration’s (NASA) Psyche mission is designed to study an asteroid known as Psyche, which is rich in metal content.
• This asteroid is located in the primary asteroid belt situated between the orbits of Mars and Jupiter.
• It is NASA’s first mission dedicated to studying an asteroid composed predominantly of metal, distinguishing it from the typical rocky or icy asteroids.

Key Highlights :

• Psyche launched from Kennedy Space Center.
• Psyche lifted off from Launch Pad 39A aboard a SpaceX Falcon Heavy rocket.
• This mission is noteworthy as it marks the first in a series of NASA science missions to be the primary payloads launched on a SpaceX Falcon Heavy rocket.
• The spacecraft is expected to be captured by the gravitational force of asteroid Psyche in late July 2029, and the primary mission will commence in August, 2029.
• During the primary mission, Psyche will orbit the asteroid for approximately 2 years.
• Its objectives include capturing images, mapping the asteroid’s surface, and collecting data to ascertain Psyche’s composition.
• The asteroid Psyche orbits the Sun in the outer region of the main asteroid belt, situated between the orbits of Mars and Jupiter.
• It is approximately three times farther from the Sun than Earth.
• The varying orbital speeds of Psyche and Earth result in distances from Earth to Psyche that range from less than 186 million miles to over 372 million miles.
• The asteroid Psyche was first discovered in 1852 by the Italian astronomer Annibale de Gasparis.
• It is often referred to as “16 Psyche” because it was the 16th asteroid to be discovered.

About NASA :

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

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Bharti Group to acquire AXA’s 49% stake in Bharti AXA Life Insurance

• Bharti Group has entered into an agreement with its partner AXA to acquire AXA’s 49% stake in Bharti AXA Life Insurance.·
• Bharti Life Ventures, the holding company for Bharti AXA Life Insurance, will become the sole owner of the life insurance company following the stake sale.

Key Highlights :

• Prior to the acquisition, France-based AXA owned 49% of the joint venture, while Bharti Group held the remaining 51% stake.
• The transaction is expected to be finalised by December 2023 and is subject to regulatory approvals.
• After the acquisition, Bharti Life Ventures Private Limited (BLVPL), the holding company of Bharti AXA Life Insurance Company, will have full ownership, owning 100% of the life insurance entity.
• Bharti Group and AXA initially established joint ventures in 2006, where Bharti held a 74% stake in both Bharti AXA Life Insurance and Bharti AXA General Insurance.
• In 2020, Bharti Group and AXA exited the general insurance business by selling Bharti AXA General Insurance to ICICI Lombard.

CURRENT AFFAIRS: AWARDS AND HONOURS

President Droupadi Murmu confers 69th National Film Awards

• President Droupadi Murmu conferred the 69th National Film Awards in New Delhi.

List of Winners:

• Allu Arjun received the Best Actor Award for Pushpa: The Rise.
• Alia Bhatt for Gangubai Kathiawadi and Kriti Sanon for Mimi shared the Best Actress Award.
• Pallavi Joshi got the Best Supporting Actress Award for Kashmir Files and Pankaj Tripathi got the Best Supporting Actor Award for Mimi.
• RRR bagged the award for Best Popular Film providing wholesome entertainment and The Kashmir Files directed by Vivek Agnihotri received the Nargis Dutt award for Best Film on National Integration.
• Waheeda Rehman received the Dadasaheb Phalke Lifetime Achievement Award.
• Rocketry: The Nambi Effect’ directed by R Madhavan was given the Best Feature Film for the year 2021.
• ‘Ek Tha Gaon’ directed by Srishti Lakhera was given the Best Non-Feature Film award.
• Shreya Ghoshal bagged the Best Female Playback Singer for the song ‘Mayava Chayava’ from the film ‘Iravin Nizhal’ and Kaala Bhairava won the Best Male Playback Singer for the song ‘Komuram Bheemudo’ from the film ‘RRR’.
• Prem Rakshith got the Best Choreography award for ‘RRR’.

CURRENT AFFAIRS: MOUS AND AGREEMENT

MOU with NRSC for Watershed Development will ensure productive use of Geo-spatial applications for the rural masses

• The Department of Land Resources (DOLR) organized an event for the signing of MOU with (the National Remote Sensing Center) NRSC in the presence of Shri Ajay Tirkey, Secretary, DOLR and Sh. S. Somanath, Secretary, of the Department of Space along with other senior officers from DOLR, Department of Space and NRSC.
• The event also included the release of Manuals by NRSC for the mobile application DRISHTI 2.0 and web-portal SRISHTI 2.0 for WDC-PMKSY 2.0.
• DOLR has engaged NRSC with the main objective to monitor (Watershed Development Component of Pradhan Mantri Krishi Sinchayee Yojana) WDC-PMKSY 2.0 projects through high-resolution satellite data for all the WDC 2.0 projects in States/UTs across the country; customized software tools on Bhuvan for Monitoring, online image comparison and visualization with respect to detailed project reports; create customized Bhuvan web page Srishti for WDC 2.0 project ; customized mobile application Drishti for field data collection and data transfer to Bhuvan; imparting training to concerned officials through a common standard course curriculum relevant to watersheds; analysis of land cover changes for the watersheds, impact analysis and reporting and creation of dashboard for project status reporting.

WHO, WADA sign memorandum of understanding to collaborate on clean, drug-free sport

• The World Anti-Doping Agency (WADA) and WHO have signed a four-year Memorandum of Understanding (MoU) to allow experts from both international organizations to collaborate and share information on issues where anti-doping and public health intersect.
• The MoU was signed in Geneva, Switzerland, by WADA president Witold Banka and WHO Director-General Tedros Ghebreyesus.

Key Highlights:

• The agreement will run until October 1, 2027, and provides a framework of cooperation between WHO and WADA to further their goals, specifically with regard to health promotion, the prevention of substance abuse and emerging drugs, and the promotion of clean sports.
• The MOU also aligns with both organizations’ common objective of achieving the United Nations Sustainable Goal 3: Ensuring healthy lives and promoting well-being for all at all ages. These goals stem from the United Nations’ 2030 Agenda for Sustainable Development, which was adopted by all United Nations Member States in 2015 and provides a shared blueprint for peace and prosperity for people and the planet, now and into the future.
• This formal agreement between WADA and WHO follows an initial meeting between the two organizations which took place in April 2023 at the WHO headquarters in Geneva.

The themes of the MOU include:

• prevention and assessment of health risks associated with psychoactive substance use and related disorders, with a focus on doping compounds and substance use among athletes;
• awareness raising and advocacy for clean sport and substance misuse prevention worldwide;
• raising awareness through education initiatives with the support of goodwill ambassadors and influencers to drive positive change;
• collaboration on substandard and falsified medical products, including identification of new emerging psychoactive drugs through sharing of information, mutual support, and engagement with sports federations; and
• reporting on abuse and misuse of falsified and substandard medical products in sport.

About WADA

• The World Anti-Doping Agency was established in 1999 as an international independent agency composed and funded equally by the sports movement and governments of the world.
• The organization’s headquarters is in Montreal, Canada.

Indian Oil to invest ₹1,660 crore in joint venture with NPTC

• Indian Oil Corporation, the nation’s biggest oil firm, will invest ₹1,660.15 crore as equity in a newly set up joint venture with energy major NTPC Ltd for setting up renewable power plants.
• In June, IOC and NTPC had formed a 50:50 joint venture company, Indian Oil NTPC Green Energy Pvt Ltd, to set up renewable energy projects to meet round-the-clock power requirements of refineries of the oil company.
• IOC incorporated the joint venture company (JVC) with NTPC Green Energy Limited, (a wholly-owned subsidiary of NTPC Limited).
• IndianQil NTPC Green Energy Private Limited will develop renewable energy-based power projects (viz. solar PV, wind, any other renewable energy, energy storage or any combination of the same), to meet the round-the-clock (RTC) power requirements of new projects of IndianQOil Refineries.

Recent news

• In March, IOC announced consolidation of its green assets under one umbrella for better synergy. It is aiming to build a portfolio of 3 GW of renewable energy and 0.6 million tonnes of biofuels by 2025.

CURRENT AFFAIRS: SPORTS NEWS

International Olympic Committee includes T20 cricket, and four other sports as part of the Los Angeles Olympic Games 2028

• The International Olympic Committee has announced the inclusion of Twenty-20 cricket and four other sports as part of the Olympic Games Los Angeles 2028.
• The other new entries are flag football, lacrosse, squash and baseball-softball.
• The IOC’s executive board accepted a proposal by Los Angeles organisers for Twenty20 cricket, along with the four other new events.
• Adding cricket to the Olympic programme would tap into the lucrative South Asian market, attracting fans in countries such as India and Pakistan.
• Cricket last featured at the 1900 Paris Olympics, when Britain stumped France to win the Gold Medal.
• It remains as the only cricket match played in the Olympics so far.

CURRENT AFFAIRS : OBITUARIES

Oldest student of Kerala State Literacy Mission, Karthyayani Amma, passed away

• Karthyayani Amma, who made history by becoming the oldest learner under the Kerala State Literacy Mission has passed away at the age of 101.

About Karthyayani Amma :

• Karthyayani Amma had shot to fame not only for being the oldest student, at the age of 96, under the southern state’s literacy mission, but also for scoring the highest marks in the ‘Aksharalaksham’ test, a fourth standard equivalent examination.
• The nonagenarian, hailing from Cheppad village in Alappuzha district, was the oldest among the 43,330 candidates who appeared for the test.
• Additionally, in 2019, she became a Commonwealth of Learning Goodwill Ambassador.

Awards & Honors :

• She received the Nari Shakti Award from former President Ram Nath Kovind on Women’s Day in March 2020.

About Nari Shakti Puraskar :

• The Nari Shakti Puraskar, which literally means ‘Woman Power Award’, is a national award in recognition of exceptional work for women empowerment conferred by the President every year on March 8, International Women’s Day.
• It is an initiative of the Ministry of Women and Child Development (WCD) ministry to acknowledge exceptional contributions made by individuals and institutions and to celebrate women as game-changers and catalysts of positive change in society.

Daily CA One- Liner: 18^th October

• Union Minister for Road Transport and Highways Nitin Gadkari informed that need-based research is crucial for India to fulfil the aspirations of society.
• India assumed the Vice-Chair role of the Indian Ocean Rim Association (IORA) for 2023-25 at the IORA Council of Ministers meeting in Colombo.
• The Pharmacopoeial Discussion Group (PDG) announced the Indian Pharmacopoeia Commission (IPC) as a PDG member, during the PDG Stakeholder’s meeting in Hyderabad.
• President Droupadi Murmu conferred the 69th National Film Awards in New Delhi.
• The Department of Land Resources (DOLR) organized an event for the signing of MOU with (the National Remote Sensing Center) NRSC in the presence of Shri Ajay Tirkey, Secretary, DOLR and Sh. S. Somanath, Secretary, of the Department of Space along with other senior officers from DOLR, Department of Space and NRSC.
• The World Anti-Doping Agency (WADA) and WHO have signed a four-year Memorandum of Understanding (MoU) to allow experts from both international organisations to collaborate and share information on issues where anti-doping and public health intersect.
• Indian Oil Corporation, the nation’s biggest oil firm, will invest ₹1,660.15 crore as equity in a newly set up joint venture with energy major NTPC Ltd for setting up renewable power plants.
• The Asian Development Bank (ADB) has approved a USD 181 million loan to bolster the quality of urban infrastructure and services, thereby enhancing urban liveability and mobility in the peri-urban regions of Ahmedabad city in Gujarat.
• India has launched Operation Ajay to evacuate Indian nationals from the Israel-Hamas conflict zone.
• Tanzanian President Samia Suluhu Hassan announced Tanzania’s decision to join the International Big Cat Alliance (IBCA), led by India.
• Akash Tripathi, who currently serves as the Chief Executive Officer (CEO) of MyGov, will assume the role of CEO of the India Semiconductor Mission (ISM).
• Puma, a prominent sports brand, has appointed Mohammed Shami, the fast bowler from Team India, as its brand ambassador.
• Spanish aerospace company PLD Space achieved a significant milestone by successfully launching its recoverable Miura-1 rocket.
• The National Aeronautics and Space Administration’s (NASA) Psyche mission is designed to study an asteroid known as Psyche, which is rich in metal content.
• Bharti Group has entered into an agreement with its partner AXA to acquire AXA’s 49% stake in Bharti AXA Life Insurance.
• The International Olympic Committee has announced the inclusion of Twenty-20 cricket and four other sports as part of the Olympic Games Los Angeles 2028.
• Karthyayani Amma, who made history by becoming the oldest learner under the Kerala State Literacy Mission has passed away at the age of 101.