Table of Contents
National News
Postmaster General Yadav Marks the Start of National Postal Week
The Department of Posts is making significant strides in expanding its service horizons by leveraging innovative technologies and services to connect with citizens across the country, especially in rural and remote areas. During the inauguration of ‘National Postal Week’ at the Regional PMG office in Ahmedabad. Postmaster General of North Gujarat Region, Shri Krishna Kumar Yadav, highlighted the continued relevance of traditional mail in an age dominated by digital communication.
International News
India and Maldives Boost Ties with $750 Million Currency Swap Deal
India has extended significant financial aid to the Maldives by signing a $750 million currency swap agreement to ease the country’s foreign exchange crisis. This includes a $400 million swap and an additional ₹3,000 crore ($357 million) under the SAARC Currency Swap Framework, available until 2027. The agreement was sealed during a meeting between Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu, who is on a five-day visit to India. Both leaders discussed key economic and security collaborations, adopting a “vision statement” that reinforces their partnership.
India-Maldives Ties Strengthened: RuPay Card Launch and Airport Upgrade
The recent inauguration of a new runway at Hanimadhoo International Airport and the launch of the RuPay card in the Maldives signify a pivotal moment in the evolving relationship between India and the Maldives. Conducted through a virtual ceremony, Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu marked these developments as essential steps to enhance economic ties and boost tourism cooperation.
Unified Cross-Border Payments: UPI and AANI Link-Up
Union Commerce Minister Piyush Goyal has informed that the Indian and UAE governments are working on interlinking the UPI of India and the AANI of UAE. It will facilitate seamless cross-border transactions between two countries. This will benefit over 3 million Indians residing in the UAE enabling them to use the power of UPI and AANI.
Appointments News
India Announces Key Ambassadorial Appointments
The Ministry of External Affairs (MEA) has announced a significant diplomatic appointment with Sanjeev Kumar Singla being named as India’s next Ambassador to France. This strategic move represents an important shift in India’s diplomatic corps and brings a wealth of experience to one of India’s crucial European partnerships.
BCCI Appointment of New Anti-Corruption Unit Chief
The Board of Control for Cricket in India (BCCI) has made a significant move in its fight against corruption by appointing retired IPS officer Sharad Kumar as the new chief of its Anti-Corruption Unit (ACU). This strategic appointment brings decades of law enforcement experience to cricket administration.
Air Marshal SP Dharkar Steps into Vice Chief of Air Staff Position
Air Marshal SP Dharkar, a distinguished fighter pilot with an impressive 3,600 hours of flying experience, took over as the Vice Chief of the Air Staff. His extensive expertise in aviation and leadership positions within the Indian Air Force is expected to bolster the operational readiness and strategic capabilities of the service.
Banking News
RBI and Maldives Monetary Authority Sign $400 Million Currency Swap Agreement
The Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) have signed a currency swap agreement under the SAARC Currency Swap Framework for 2024-2027. This agreement allows the Maldives to access up to $400 million under the US Dollar/Euro Swap Window and Rs 30 billion under the Indian Rupee (INR) Swap Window.
RBI Deputy Governor M. Rajeshwar Rao’s Tenure Extended for One Year
The government has approved a one-year extension for M. Rajeshwar Rao as Deputy Governor of the Reserve Bank of India (RBI), effective October 9, 2024. This decision was made by the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, following a notification dated October 4. Rao’s tenure was initially set for three years starting from October 2020, and this marks his second consecutive one-year extension.
HDFC Bank Divests 100% Stake in HDFC Edu for ₹192 Crore
HDFC Bank has officially announced the divestment of its entire 100% stake in HDFC Education and Development Services Pvt. Ltd (HDFC Edu) to Vama Sundari Investments for ₹192 crore. This all-cash transaction, valued at ₹9.60 per share, aligns with the bank’s strategy to comply with regulatory requirements and streamline its operations following the merger with e-HDFC Ltd.
Business News
Global Skincare Sensation Augustinus Bader Arrives in India Through Reliance’s Tira
Reliance’s beauty platform Tira announced the launch of globally luxury skincare and haircare brand Augustinus Bader for the Indian Market. Known for its scientifically advanced and award-winning formulas, Augustinus Bader products are now available exclusively on Tira.
Defence News
Training Deployment: Indian Navy Ships Land in Muscat
The Indian Naval Ships Tir and Shardul, along with the Indian Coast Guard Ship Veera, from the First Training Squadron (1TS) of the Indian Navy, have successfully arrived in Muscat, Oman, as part of their long-range training deployment. This visit underscores the Indian Navy’s commitment to enhancing maritime cooperation and strengthening ties with regional partners.
Awards News
2025 National Anubhav Awards: Honoring Public Service Impact
The National Anubhav Awards Scheme recognizes the contributions of retiring and retired government employees by encouraging them to share their valuable experiences and insights. The initiative is spearheaded by the Department of Pension & Pensioners’ Welfare (DoPPW), under the Ministry of Personnel, Public Grievances, and Pensions, Government of India.
Business News
India’s E-commerce Market Set to Reach $325 Billion by 2030: Deloitte Report Analysis
The Indian e-commerce landscape is undergoing a transformative evolution, with Deloitte’s latest report forecasting a monumental growth trajectory. The projection of reaching $325 billion by 2030 represents not just a number, but a fundamental shift in how India conducts commerce. This 21% Compound Annual Growth Rate (CAGR) signifies a digital revolution that’s reshaping the retail ecosystem.
Schemes News
Nijut Moina Scheme Launched in Assam to Fight Child Marriage
In a significant move to fight against child marriage in Assam, Chief Minister Himanta Biswa Sarma of Assam has initiated the disbursement of monthly financial assistance under the Nijut Moina scheme. This step marks a decisive phase in the government’s ongoing battle against this social issue, aiming to provide crucial support to families and empower young girls to pursue their education and well-being.
Committee News
77th WHO Regional Committee for South-East Asia
The World Health Organisation (WHO) has commenced its 77th Regional Committee session for Southeast Asia in New Delhi, marking a significant gathering of health leaders from across the region. This three-day conference, running from October 7 to 9, brings together health ministers and delegates from eleven member states to address critical public health challenges and forge collaborative solutions. JP Nadda, India’s Minister of Health, has been elected as the Chairperson of the 77th Session, bringing his extensive experience in health policy to guide the deliberations.
Sports News
Dipa Karmakar Announces Retirement: The End of a Historic Gymnastics Journey
Dipa Karmakar, India’s trailblazing gymnast, who narrowly missed out on a podium finish at the Rio 2016 Olympics, has announced her retirement from the sport. Famous for performing the risky “Produnova” vault, often called the “vault of death,” Karmakar leaves behind a legacy of courage and determination that redefined Indian gymnastics.
Important Days
Indian Air Force Day 2024, Theme, Significance and Historical Journey
As India prepares to commemorate the 92nd Indian Air Force Day on October 8, 2024, the nation stands united in honoring the exceptional dedication and sacrifices of its air warriors. This significant occasion serves as a reminder of the Indian Air Force’s (IAF) remarkable journey from its humble beginnings to becoming one of the world’s most formidable aerial forces. The chosen theme, “Bhartiya Vayu Sena: Saksham, Sashakt, Atmanirbhar” (translating to Potent, Powerful, and Self-Reliant), encapsulates the IAF’s vision for the future. This theme resonates deeply with India’s broader objective of achieving self-sufficiency in defense capabilities while maintaining operational excellence.
Daily Current Affairs 07th October 2024,...
Daily Current Affairs 05th October 2024,...
Daily Current Affairs 04th October 2024,...
