23rd October 2020 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Here is the daily GK update of 23rd October 2020 covering the following news headlines: Election Commission of India, Andhra Pradesh, Smart Black Board Scheme, INS Kavaratti.

Daily GK updates are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily GK Update is the complete bag of the important news that held all day long. One should have complete knowledge about the banking terms, current affairs news, etc. So, here is the GK update of 23rd October 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

National News

1. ECI constitutes committee to examine issues concerning expenditure limits

• The Election Commission of India has set up a 2-member committee to examine the issue of revising the expenditure limit for candidates for Lok Sabha and assembly polls.
• The committee will comprise of Shri Harish Kumar, Ex. IRS and DG (Investigation), Shri Umesh Sinha, Secretary-General and DG (Expenditure).
• The need to set up this committee was felt in view of the increase in the number of electors and the rise in the Cost Inflation Index. It will submit its report within 120 days of its constitution.

Important takeaways for all competitive exams:

• Chief Election Commissioner of India: Sunil Arora.
• Election Commission of India Headquarters: New Delhi.

State News

2. Andhra Pradesh CM launches ‘YSR BIMA’ for BPL families

Defence News

5. “INS Kavaratti” commissioned into Indian Navy

• The Chief of Army Staff, General MM Naravane has commissioned the ‘INS Kavaratti’, the last of four indigenously-built anti-submarine warfare (ASW) stealth corvettes, into the Indian Navy in Visakhapatnam.
• The ship has been designed by the Indian Navy’s in-house organisation, Directorate of Naval Design (DND), and built by Garden Reach Shipbuilders and Engineers (GRSE), Kolkata.
• The anti-submarine warfare (ASW) stealth corvettes have been undertaken under ‘Project 28’, also called Kamorta-class corvettes of the Navy.
• INS Kavaratti has state-of-the-art weapons and sensor suite capable of “detecting and prosecuting” submarines and good endurance for long-range deployments.

Important takeaways for all competitive exams: 

• Chief of Naval Staff: Admiral Karambir Singh.

6. DRDO successfully conducts final trial of Nag anti-tank guided missile

• Defence Research and Development Organization (DRDO) successfully carried out the final trial of the third generation, anti-tank guided missile ‘NAG’, from the Pokhran field firing ranges in Rajasthan.
• The successful final user trial of the missile makes the Nag anti-tank missile ready for induction in the Indian Army. Following the final trial, the missile will now enter into the production phase.
• The Nag anti-tank guided missile has been developed by the Defence Research and Development Organization (DRDO), to engage highly fortified enemy tanks in the day and night conditions.

• It has an operational range of 500 m to 20 km.
• It will be manufactured by defence PSU Bharat Dynamics Limited (BDL), under the Integrated Guided Missile Development Program (IGMDP), of DRDO.

Important takeaways for all competitive exams: 

• DRDO Chairman: Dr G. Satheesh Reddy.
• DRDO Headquarters: New Delhi.

Banking News

7. Indian Bank, IIT-Madras in pact for start-up funding

• Indian Bank has introduced an initiative for funding start-ups, ‘IND Spring Board’, in collaboration with the IIT-Madras Incubation Cell (IITMIC).
• The Chennai-headquartered bank seeks to bridge the gap in funding for start-ups through this collaboration with IITMIC.
• Under the deal, IITMIC will refer start-ups with proven technology and established cash flows to the bank and also extend advisory to the bank on the business model.
• The bank will extend loans of up to 50 crores to these start-ups for their working capital requirements or purchase of machinery, equipment.

Important takeaways for all competitive exams:

• Indian Bank Headquarters: Chennai, Tamil Nadu.
• Indian Bank CEO: Padmaja Chunduru.
• Indian Bank Tagline: Your Own Bank, Banking That’s Twice As Good.

Appointments

8. Neena Malhotra appointed as Ambassador to Republic of San Marino

• Indian diplomat Dr Neena Malhotra, 1992-batch Indian Foreign Service officer, appointed as next Ambassador to the Republic of San Marino. She will have a residence in Rome.
• Presently, she is serving as the Ambassador of India to the Republic of Italy.

Important takeaways for all competitive exams:

• Republic of San Marino Capital: San Marino.
• Republic of San Marino Currency: Euro.

9. Sushil Kumar Singhal appointed as next Ambassador to Solomon Islands

• Sushil Kumar Singhal, a 2000-batch IFS officer, has been concurrently accredited as the next High Commissioner of India to the Solomon Islands.
• He is presently serving as the High Commissioner of India to the Independent State of Papua New Guinea.

Important takeaways for all competitive exams:

• Solomon Islands Capital: Honiara.
• Solomon Islands Currency: Solomon Islands dollar.

Awards

10. Dr Jajini Varghese honoured with Outstanding Young Person 2020

• UK-based Indian-origin plastic surgeon, Dr Jajini Varghese has been named an ‘Outstanding Young Person of the World 2020’ by a non-profit NGO for her “incredible” scientific contributions to diagnosing and treating breast cancer.
• Varghese has been recognised in the “Medical Innovation” category for making it her personal mission to attempt to restore the lives of millions of women affected by breast cancer and will be presented with the award at a ceremony at the 2020 Junior Chamber International (JCI) World Congress in Yokohama, Japan.
• In the UK, she is a Fellow of the Royal College of Surgeons in Plastic Surgery (FRCS) and a Member of the Royal College of Surgeons (MRCS). She is also on the Board of Examiners for the MSc in Plastic Surgery at University College London (UCL).

Important Days

11. World Snow Leopard Day: 23 October

• World Snow Leopard Day is observed globally on 23rd October. The main purpose of this day is to show the importance of snow leopard conservation and raise awareness about this incredible animal.
• The day also emphasizes the importance of taking measures to stop poaching, as well as consolidating efforts in terms of an environmental organization in the countries of the snow leopard range.

Obituaries

12. Playback singer and actor K J Mohammed passes away

• Playback singer, music director and actor K J Mohammed Babu, popularly known as ‘Zero’ Babu passed away.
• He was a recipient of the Sangeetha Nataka Akademi Award. He has sung in nearly 90 films and various plays. His first movie was the 1964 film ‘Kudumbini’.

Miscellaneous News

13. Vega ropes in Rohit Sharma as brand ambassador

Check More GK Updates Here

23rd October Current Affairs 2020 | Current Affairs Today | Daily Current Affairs 2020

Click Here to Register for Bank Exams 2020 Preparation Material

Visit Achieversadda.com and participate in discussions with other aspirants and achievers. Get answers to your queries and connect with others on Achieversadda.com

All the Best BA’ians for RBI Assistant Mains!