Daily Current Affairs 11 October 2023, Important News Headlines (Daily GK Update)

Read the most important current affairs of 11 October 2023. Today Current Affairs covers the headlines on 82-km Padma Bridge Rail Link, IMF Growth Forecast, 360 ONE Wealth Hurun India Rich List 2023, International Day of the Girl Child 2023.

Top 19 Current Affairs and News Headlines of 11 October 2023

National News

1.Petroleum Minister Inaugurates 26th Energy Technology Meet At Bharat Mandapam

• In the esteemed presence of notable dignitaries, Shri Hardeep Singh Puri, the Hon’ble Minister of Petroleum & Natural Gas and Housing and Urban Affairs inaugurated the 26th Energy Technology Meet at Bharat Mandapam, New Delhi.
• Highlighting India’s growing energy demand, Minister Puri projected:
• Currently, India stands as the world’s third-largest consumer of oil.
• The third-largest LPG consumer.
• The fourth-largest LNG importer
• The fourth-largest refiner.
• The fourth-largest automobile market globally.
• Shri Hardeep Singh Puri also announced that India has exceeded its biofuel blending targets. Furthermore, the ambitious target of 20 percent biofuel blending, originally set for 2030, has now been advanced to 2025.

International News

2.Sheikh Hasina unveils largest project built with Chinese aid

• Bangladesh Prime Minister Sheikh Hasina marked a historic moment in the country’s infrastructure development by inaugurating the 82-km Padma Bridge Rail Link. The inauguration ceremony took place at Mawa Railway Station in Munshiganj.
• The Padma Bridge Rail Link stands out as the largest infrastructure project in Bangladesh financed under Chinese preferential loans, with the Exim Bank of China providing a substantial loan of Tk 21,036.70 crore. This landmark initiative is poised to directly benefit 80 million people and could potentially boost Bangladesh’s economic growth by 1.5%.
• The project, estimated to cost Tk 39,246.80 crore, holds the promise of a considerable economic boost for Bangladesh. It is expected to increase the country’s economic growth by enhancing connectivity and facilitating smoother transportation across regions.

3.What is Hamas, the Palestinian militant group?

• In October 2023, Hamas, an Islamist militant group governing the Gaza Strip, launched a massive surprise attack on southern Israel, killing hundreds of civilians and soldiers and taking dozens as hostages.
• Hamas, short for Harakat al-Muqawama al-Islamiya (Islamic Resistance Movement), was founded in 1987 by Sheikh Ahmed Yassin, a Palestinian cleric with ties to the Muslim Brotherhood.
• It emerged during the first intifada as the political arm of the Brotherhood in Gaza.  It gained popularity for the social services it provided and as a rejection of Fatah’s perceived corruption.
• Since Israel’s withdrawal from Gaza in 2005, Hamas has been the de facto authority in the territory. It won a majority in the PA’s legislature in 2006 and established its government.

State News

4.Dept Of Animal Husbandry And Dairying Launched ‘A-HELP’ Programme In Jharkhand

• The Department of Animal Husbandry and Dairying, Government of India, recently unveiled the ‘A-HELP‘ (Accredited Agent for Health and Extension of Livestock Production) programme in the state of Jharkhand.
• ‘A-HELP’ program is a groundbreaking initiative aimed at empowering women by engaging them as Accredited Agents who will significantly contribute to disease control, animal tagging, and livestock insurance.
• The initiative has been made possible through a Memorandum of Understanding (MoU) between DAHD (Department of Animal husbandry and Dairying) and the National Rural Livelihoods Mission (NRLM) under the Ministry of Rural Development (MoRD), Government of India.

5.3000 Crore has been approved by Assam for economic corridor project

• The Assam cabinet has unveiled an ambitious plan to establish a 1000-km long economic corridor, backed by a significant investment of Rs 3000 crore. The cabinet’s decision marks a substantial step forward in regional development.
• State Minister Jayanta Malla Baruah informed the press that the state cabinet has granted its in-principle approval for the project under the Asom Mala Scheme, indicating the government’s commitment to this substantial infrastructure endeavor.
• In another significant development, the cabinet has approved projects totaling Rs 950 crore aimed at enhancing rural infrastructure. Funding for these projects will be sourced through a loan from NABARD. The funds will be used to upgrade 90 rural roads and four rural bridges managed by the Public Works Department.

6.Uttarakhand CM Launches App & Portal To Boost Self-Employment

• The state government of Uttarakhand took a significant step towards empowering its youth by launching the ‘Yuva Uttarakhand mobile application.’ The primary objective of this innovative app is to provide valuable information about self-employment opportunities to the state’s unemployed youth.
• In addition to the ‘Yuva Uttarakhand mobile application,’ the Chief Minister also inaugurated the ‘Prayag portal.’ This portal is dedicated to providing job information and serves as a comprehensive resource for job-seeking youth in the state.
• Chief Minister Dhami, also announced the establishment of self-employment centers in all districts of Uttarakhand which will serve as hubs where local residents can access information and application details related to various self-employment schemes. In a remarkable initiative, two such centers were inaugurated in the first phase, located in Dehradun and Udham Singh Nagar.

Economy News

7.India’s Net Direct Tax Collections Surge by 21.8%, Surpassing Half of Budget Projections

• India has witnessed a remarkable increase in its net direct tax collections, with a substantial growth rate of 21.8% amounting to ₹9.57 lakh crore by October 9.
• This surge has exceeded over half of the annual Budget estimates. The boost is primarily attributed to a 32.5% rise in personal income tax revenues and a 12.4% increase in corporate taxes.
• Personal income tax collections have seen a remarkable upswing of 32.5%. This highlights the robust contribution of individual taxpayers to the country’s tax revenue. Corporate taxes have also played a crucial role in this tax collection surge, showing a healthy increase of 12.4%.

8.IMF Raises India’s FY24 GDP Growth Forecast to 6.3%

• In its October 2023 World Economic Outlook (WEO) report, the International Monetary Fund (IMF) raised India’s economic growth forecast for the fiscal year 2023-24.
• The growth projection was increased from 6.1% to 6.3% due to stronger-than-expected consumption during April-June. The report also highlighted India’s resilient domestic economic activity and the positive impact of robust domestic demand, contrasting global economic trends.
• The IMF also anticipated retail inflation in India to rise to 5.5% in fiscal 2023-24 before easing to 4.6% in 2024-25. This projection aligns with the Reserve Bank of India’s (RBI) inflation target over the medium term.

Banking News

9.RBI directs Bank of Baroda to halt new customer onboarding on its mobile app

• The Reserve Bank of India (RBI) has taken a significant step to address supervisory concerns by ordering Bank of Baroda (BoB) to immediately halt the onboarding of new customers onto their mobile app, ‘bob World‘.
• The directive from RBI underscores the presence of material supervisory concerns that have arisen during the customer onboarding procedures of ‘bob World,’ the mobile app provided by Bank of Baroda. These concerns have prompted RBI to intervene and ensure the rectification of these deficiencies.
• Bank of Baroda is committed to ensuring that the existing customers who are already onboarded onto the ‘bob World’ app will not experience any disruptions or inconveniences due to this suspension. The bank is taking steps to guarantee the seamless continuation of services for its current user base.

Important Days News

10.International Day of the Girl Child 2023

• The International Day of the Girl, observed every year on October 11, is a global initiative dedicated to raising awareness about gender inequality and advocating for the rights and empowerment of girls.
• The International Day of the Girl was first celebrated in 2012. This day was established to focus attention on the unique challenges girls face and to promote their empowerment and the fulfillment of their human rights. The day was born out of the recognition that girls, like boys, deserve equal opportunities and rights.
• The theme for the International Day of the Girl in 2023 is “Invest in Girls’ Rights: Our Leadership, Our Well-being.” This theme emphasizes the need to invest in girls, recognizing that their leadership and well-being are crucial for a fairer and more equal future.

Schemes News

11.Govt Introduces Shreshta Scheme For Quality Education Of Scheduled Caste Students

• In a remarkable move towards enhancing education and bolstering the socio-economic advancement of Scheduled Caste (SC) students, the Ministry of Social Justice & Empowerment has unveiled the ‘Scheme for Residential Education for Students in High Schools in Targeted Areas’ (SHRESHTA).
• SHRESHTA, designed to provide high-quality education to SC students, aims to create an environment conducive to their holistic development and secure their future prospects. The scheme’s implementation comprises two distinct approaches. The first category includes top CBSE/State Board-affiliated private residential schools known as SHRESHTA institutions.
• The second implementation approach relates to existing NGO/VO-operated schools and hostels. This approach is specifically intended for educational institutions up to the 12th grade that are managed by voluntary organizations (VOs) and non-governmental organizations (NGOs).

Ranks and Reports News

12.Mukesh Ambani Surpasses Gautam Adani As India’s Richest On Hurun List

• According to the 360 ONE Wealth Hurun India Rich List for 2023 released recently, Reliance Industries chairman Mukesh Ambani has surged ahead of Adani Group’s Gautam Adani to claim the title of the richest Indian.
• Mukesh Ambani, the chairman of Reliance Industries, saw his wealth grow by a modest 2 percent, reaching a staggering Rs 8.08 lakh crore. This significant wealth increment has solidified his position as the wealthiest individual in India.
• Cyrus Poonawalla, the Managing Director and Chairman of Serum Institute of India (SII), retained his position as the third wealthiest individual in India. His fortune experienced an impressive 36 percent jump, reaching Rs 2.78 lakh crore.
• Shiv Nadar, the founder and chairman of HCL Technologies, maintained his position as the fourth richest Indian. His wealth increased by 23 percent to reach Rs 2.28 lakh crore.

Agreements News

13.Bridgestone Partners With Tata Power To Install EV Chargers For Four Wheelers

• Tyre manufacturer Bridgestone India has announced a significant collaboration with Tata Power to promote electric mobility in the country. Under this partnership, Tata Power will install high-capacity DC fast chargers at Bridgestone dealerships across India, making it easier for electric vehicle (EV) owners to recharge their vehicles quickly and conveniently.
• Tata Power will deploy 25/30 KWh capacity DC fast chargers, which are capable of charging a four-wheeler within one hour. This rapid charging capability allows for the efficient use of these chargers, with the potential to serve 20-24 vehicles in a single day. The chargers will operate 24×7, ensuring round-the-clock availability for EV owners.
• To ensure a seamless charging experience, Tata Power will provide installation and charging assistance, along with maintenance support for the chargers. In addition, they will offer remote vehicle charging monitoring and e-payment services through the EZ Charge mobile application.

14.India, Italy sign defence agreement

• India and Italy have cemented their defense cooperation with the signing of a significant agreement. The agreement, signed during the official visit of India’s Defense Minister, Rajnath Singh, to Italy, encompasses various aspects of security and defense collaboration.
• The agreement outlines the following key areas of bilateral cooperation:
• 1.Security and Defense Policy: India and Italy will collaborate on defining and shaping security and defense policies.
• 2.Research and Development: Joint efforts will be made in research and development projects related to defense technology and innovation.
• 3.Education in the Military Field: Both nations will promote educational exchanges and partnerships in military training and knowledge sharing.
• 4.Maritime Domain Awareness: Enhancing awareness and security in maritime domains will be a focus of the cooperation.
• 5.Sharing of Defense Information: India and Italy will exchange crucial defense information to strengthen their defense capabilities.
• 6.Industrial Cooperation: The two nations will work together on co-development, co-production, and establishing joint ventures in the defense sector.

Appointments News

15.Navneet Munot Elected Chairman of the Association of Mutual Funds in India (AMFI)

• The Association of Mutual Funds in India (AMFI) has recently elected Navneet Munot, the Managing Director and CEO of HDFC Asset Management, as the Chairman during a Board meeting.
• Munot, a Chartered Accountant and a CFA charter holder, boasts over three decades of experience in the financial services sector. He will succeed A Balasubramanian, Managing Director of Aditya Birla Sun Life Asset Management Company, who will complete two consecutive terms in October.
• The Board of AMFI has also elected Anthony Heredia, MD and CEO of Mahindra Manulife Mutual Fund, as the Vice-Chairman. With his extensive experience in the investment management industry, Heredia takes over the role from Radhika Gupta, MD of Edelweiss Asset Management.

Sports News

16.Iran’s Shadloui Becomes Costliest Player In Pro Kabaddi League Auction

• Iranian Mohammadreza Shadloui Chiyaneh became the most expensive overseas player at the auction and was brought by Puneri Paltan for Rs 2.35 crore.
• Shadloui’s countryman Fazel Atrachali became the second-most expensive overseas player and was sold to the Gujarat Giants for Rs 1.60 crore.
• Maninder Singh stays with the Bengal Warriors, as they used their Final Bid Match (FBM) card to get their captain back for Rs 2.12 crore. He is the second-most expensive domestic player and third overall.

17.National Games 2023 to be held in Goa from Oct. 26 to Nov. 9

• The 37th edition of the National Games, scheduled for 2023, is set to take place in the picturesque state of Goa. After multiple delays and changes in hosting rights, the event is finally slated to run from October 26 to November 9, marking the first time Goa has hosted this prestigious competition.

• The National Games 2023 will feature an impressive 43 sports, including both Olympic and indigenous disciplines, a significant increase from the 36 sports in the previous edition. Several sports will make their National Games debut, such as Kho Kho, yogasana, and mallakhamb.

• With over 10,000 athletes expected to participate, the National Games 2023 promises to be a grand spectacle of Indian sports talent. The various sporting competitions will be spread across multiple venues throughout Goa. However, cycling and golf will be held in New Delhi.

18.IOC and Reliance Foundation Join Forces to Promote Olympic Values in India

• The International Olympic Committee (IOC) with the Olympic Museum has aligned with Reliance Foundation to build on the success of the Olympic Values Education Programme (OVEP) in India and signed a new cooperation agreement.
• This agreement underscores the organisations’ shared priority to promote Olympic values through sport among young people. The new cooperation was agreed upon by IOC President Thomas Bach and Nita Ambani, IOC Member in India and Reliance Foundation Founder Chairperson, during a visit to the Reliance Foundation Young Champs (RFYC) football academy in Mumbai.
• The IOC and Reliance Foundation plan to focus on three main areas: 1) Grade-specific activities in selected schools to promote Olympism and the Olympic values and instill positive behavioural changes. 2) Virtual and in-person sessions between athletes and students to promote physical activity and discuss Olympic values. 3) Raise awareness of Olympic values through interactive games, quizzes and workshops at sporting and educational events.

Science & Technology News

19.ISRO To Conduct First Test Flight Of Gaganyaan Mission On October 21

• Jitendra Singh, Minister of State for Space, Science, and Technology, officially announced that, on October 21, The Indian Space Research Organisation (ISRO) is poised to make history as it prepares to conduct the first in a series of critical test flights in anticipation of the much-anticipated Gaganyaan mission, which marks India’s maiden charge into manned space exploration.
• The forthcoming test flight will be executed at the Satish Dhawan Space Centre in Sriharikota. The primary objective of this mission is to evaluate the “crew module,” the pivotal component that will house Indian astronauts during their journey into space.
• The test mission entails launching the crew module into outer space and orchestrating its return to Earth, with a successful touchdown in the Bay of Bengal. To ensure a seamless and safe recovery process, the Indian Navy has initiated mock operations to prepare for this momentous occasion.

Important Current Affairs of 11October 2023

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