Daily Current Affairs 05th October 2024, Important News Headlines (Daily GK Update)

National News

Cabinet Endorses National Mission to Enhance Oilseed Production

The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the National Mission on Edible Oils – Oilseeds (NMEO-Oilseeds), a landmark initiative aimed at boosting domestic oilseed production and achieving self-reliance (Atmanirbhar Bharat) in edible oils.

Agreements News

UK Agrees to Transfer Chagos Islands Sovereignty to Mauritius

The United Kingdom and Mauritius reached an historical agreement to cede sovereignty of the Chagos Islands, a strategically significant archipelago in the Indian Ocean to hand over to Mauritius. The agreement allows Mauritius to regain sovereignty while ensuring the continued operation of the U.S. military base on Diego Garcia.

Department of Posts and Amazon Unite to Enhance Delivery Services

The Department of Posts (DoP), with its deep reach, and Amazon, one of the world’s largest e-commerce companies, together seek to empower India’s growing e-commerce sector by enhancing logistical capabilities, supporting job creation, and contributing to economic growth, signed a Memorandum of Understanding (MoU).

Economy News

India’s Forex Reserves Surpass $700 Billion Milestone for the First Time

India’s foreign exchange reserves have exceeded $700 billion for the first time, reaching $704.89 billion in the week ending September 27, 2024. This marks a record increase of $12.58 billion, with foreign currency assets (FCAs) rising by $10.4 billion to $616 billion and gold reserves increasing by $2 billion to $65.7 billion. The surge is attributed to RBI’s dollar purchases and favorable valuation adjustments, driven by declining U.S. Treasury yields, a weakening dollar, and rising gold prices.

Summits and Conference News

EAM Jaishankar to Visit Pakistan for SCO Meeting After 9 Years

External Affairs Minister S. Jaishankar will lead India’s delegation to Pakistan for the Shanghai Cooperation Organisation’s (SCO) Heads of Government meeting in Islamabad on October 15-16, 2024. This marks the first visit by an Indian External Affairs Minister to Pakistan since Sushma Swaraj attended a conference in 2015. The visit is focused on the SCO’s regional cooperation agenda, with no bilateral meetings confirmed as of now, according to the Ministry of External Affairs.

Banking News

Federal Bank Teams Up with Bhashini to Add Vernacular Support to Chatbot Feddy

Federal Bank has signed an MoU with Bhashini, an AI-powered language translation platform, to integrate vernacular language support into its AI chatbot, Feddy. This collaboration, inspired by the Reserve Bank Innovation Hub’s (RBIH) initiative for local language banking, aims to make banking services more inclusive and accessible across India. The enhancement allows Feddy to assist users in 14 Indian languages, including Hindi, Bengali, Tamil, and Marathi, among others. This move is seen as a crucial step toward bridging language barriers in financial services.

Sports News

Gold Glory: Indian Men’s Team Triumphs in Rapid Fire Pistol

Indian trio wins team Gold medal at ISSF Junior World Championship 2024 in 25 Men’s Rapid Fire Pistol event. The competition was held in Lima, Peru. The trio was Raajwardan Patil, Mukesh Nelavalli and Harsimar Singh Rattha. 

Important Days

World Teachers’ Day 2024 Observed Every year on October 5th

Every year on October 5th, the world comes together to celebrate World Teachers’ Day, a momentous occasion dedicated to recognizing and honouring the invaluable contributions of educators worldwide. This day serves as a reminder of the profound impact teachers have on shaping not just individual lives, but the very fabric of society. Teachers, often regarded as second parents, guide students through crucial developmental stages, imparting not only knowledge but also essential life skills and values. Theme: “Valuing Teacher Voices: Towards a New Social Contract for Education”.