Daily Current Affairs 6 October 2023, Important News Headlines (Daily GK Update)

Read the most important current affairs of 6 October 2023. Today Current Affairs covers the headlines on RBI’s fourth bi-monthly Monetary Policy, SBI introduces ‘Mobile Handheld Device’, Asian Games 2023.

Top 18 Current Affairs and News Headlines of 6 October 2023

National News

1.Sarakka Central Tribal University approved for Telangana

• On October 4th, the Union Cabinet approved the establishment of a tribal university in Telangana, named The Sarakka Central Tribal University. This university, with a budget of Rs 889 crore, will be located in Mulugu district.
• The initiative was a commitment made by the Central government as a part of the Andhra Pradesh Reorganisation Act, 2014, which aimed to support both Andhra Pradesh and Telangana in establishing tribal universities.
• Sammakka-Sarakka, a mother-daughter duo, holds a special place in the local tribal folklore. Sammakka, married to Pagididda Raju, a Kakatiya dynasty chief, played a pivotal role in protesting against oppressive taxes imposed by local rulers. Sarakka, one of her daughters, lost her life in the battle, and Sammakka disappeared into the hills, believed to have transformed into a vermillion casket.

2.PM Modi inaugurated the country’s first high-tech sports training center

• Prime Minister Narendra Modi inaugurated the country’s first high-tech sports training centre for Divyangjan, named after former Prime Minister Shri Atal Bihari Vajpayee, in Gwalior, Madhya Pradesh.
• This initiative aims to provide equal opportunities in sports, enhance talent, and encourage participation in various sports disciplines. Divyangjan from all over the country can practice and train in the Atal Bihari Training Center for Divyang Sports.
• The Atal Bihari Training Centre for Disability Sports is a state-of-the-art facility dedicated to training and nurturing athletes with disabilities. It houses world-class infrastructure and coaching staff to provide the best possible training environment for differently-abled athletes.

International News

3.Burevestnik Missile: Russia’s nuclear missiles can now reach targets in US

• Russian President Vladimir Putin recently announced the successful testing of a new nuclear-powered missile called “Burevestnik” during a speech that covered various topics, including nuclear weapons and international relations.
• The Burevestnik is a ground-launched, low-flying cruise missile with the capability to carry a nuclear warhead. What sets it apart is its nuclear propulsion, which allows it to remain airborne for an extended period and cover vast distances.
• The International Institute for Strategic Studies suggested in 2021 that the Burevestnik missile could have a theoretical range of up to 20,000 kilometers, making it capable of striking targets in the United States from various locations in Russia. Additionally, the missile operates at a low altitude (50-100 meters), making it challenging for air-defense radar systems to detect.

4.Russia Delivers Uranium for Bangladesh’s Rooppur Nuclear Power Plant

• Bangladesh recently received its first shipment of uranium from Russia, which will be used to fuel the country’s Rooppur nuclear power plant. The plant, financed and constructed by Russia’s Rosatom, is a significant project aimed at enhancing Bangladesh’s electrical grid and supporting its growing economy.
• The Rooppur power plant, located in Ishwardi, Bangladesh, will generate 2,400 megawatts of electricity when both units are fully operational. This capacity will provide electricity to approximately 15 million households in Bangladesh, making a substantial contribution to the nation’s energy needs.
• Russia has funded the construction of the Rooppur power plant with an $11.38 billion loan. Bangladesh will begin repaying this loan over a period of two decades, starting in 2027. Once the Rooppur plant begins production, Bangladesh will join the ranks of over 30 countries with operational nuclear power reactors.

State News

5.Madhya Pradesh To Provide 35% Reservation For Women In Govt. Jobs

• In an important development towards gender equality and women’s empowerment, the Madhya Pradesh government has announced a groundbreaking policy to reserve 35% of all state government job positions for women, excluding the Forest Department.
• This progressive amendment to the Madhya Pradesh Civil Services (Special Provision for Appointment of Women) Rules, 1997, comes just ahead of the upcoming state assembly elections.
• Additionally, an impressive 50% of teaching positions will be reserved for women, emphasizing the government’s commitment to gender balance and women’s empowerment in the education sector.

6.Arunachal Pradesh’s Yak Churpi’ Receives GI Tag

• Slightly sour and salty churpi, a naturally fermented cheese prepared from the milk of Arunachali yak, nurtured in the high-altitude areas of Arunachal Pradesh, has recently received the prestigious Geographical Indication (GI) tag.
• Churpi, a traditional cheese made from yak milk, has been a staple food for tribal communities in Arunachal Pradesh. Its nutritional profile, rich in protein, makes it a vital dietary source, especially in regions where fresh vegetables are scarce.
• Churpi is not just a food item; it holds deep cultural significance for the people of Arunachal Pradesh. It is considered an integral part of the tangible cultural and tribal heritage of the region. The cheese-making process, passed down through generations, is a testament to the rich cultural heritage of these tribes

Economy News

7.RBI revealed its fourth bi-monthly Monetary Policy

• The Reserve Bank of India (RBI) has revealed its fourth bi-monthly monetary policy on October 6. The central bank has decided to maintain the repo rate at 6.50% and has adopted a stance of ‘withdrawal of accommodation.’
• The various rates are as under:
  • Policy Repo Rate: 6.50%
  • Standing Deposit Facility (SDF): 6.25%
  • Marginal Standing Facility Rate:  6.75%
  • Bank Rate:  6.75%
  • Fixed Reverse Repo Rate: 3.35%
  • CRR: 4.50%
  • SLR: 18.00%
• The MPC is tasked with determining the policy repo rate, a crucial tool for achieving the inflation target set by the RBI. The MPC convenes a minimum of four times annually, with a quorum of four members required for the meeting to proceed.

8.“India’s Services PMI Soars to 61 in September, Output Hits 13-Year Peak, Job Growth Steady”

• In September, the services sector in India experienced a significant boost in both domestic and international demand, reaching a 13-year high, according to a survey-based index by S&P Global Market Intelligence.
• This index, known as the Purchasing Managers’ Index (PMI), climbed to 61, up from 60.1 in August. Despite this growth, job creation was moderate.
• Business activity and new work intakes in the services sector surged to levels not seen in over 13 years. Both domestic and international sales to Asia, Europe, and North America contributed to this growth. The services sector accounts for 54% of Gross Value Added (GVA) in India’s economy.

Banking News

9.SBI Introduces ‘Mobile Handheld Device’ To Drive Financial Inclusion

• In a groundbreaking move aimed at enhancing accessibility and convenience in availing banking services, the State Bank of India (SBI) has introduced the ‘Mobile Handheld Device‘ for its Financial Inclusion (FI) customers. This pioneering initiative, unveiled by the Chairman of SBI, Shri Dinesh Khara, seeks to empower financial inclusion and extend essential banking services to the masses.
• The Mobile Handheld Device is set to revolutionize banking accessibility by bringing kiosk banking directly to customers’ doorsteps. It offers greater flexibility to Customer Service Point (CSP) agents, enabling them to reach out to customers wherever they are.
• The Mobile Handheld Device will initially provide five core banking services:
  1. Cash withdrawal
  2. Cash deposit
  3. Fund transfer
  4. Balance inquiry
  5. Mini statement

10.RBI forms external working group on expected credit loss framework

• The Reserve Bank of India (RBI) has taken a significant step by forming an external working group (WG) to address the expected credit loss (ECL) framework for loan loss provisioning. This initiative aims to gather independent insights into the intricacies of this substantial shift in the banking sector.
• The WG will be led by R. Narayanaswamy, former Professor at IIM Bangalore. It consists of eight experts, with representation from six banks and one member each from KPMG and the Indian School of Business, Hyderabad.
• The primary objectives of this working group include: 1)Defining Credit Risk Model Principles. 2)Addressing Credit Risk Elements. 3)Validation Methodology and 4)Prudential Floors.

11.Centre Extends SBI Chairman Dinesh Khara’s Tenure Until August 2024

• Centre has decided to extend the tenure of Mr. Dinesh Khara as the Chairman of the State Bank of India (SBI), the nation’s largest lender, until August of the following year. Mr. Khara’s tenure, which began on October 7, 2020, for a three-year term, is now set to continue until he reaches the age of 63.
• Mr. Khara has been the Managing Director and CEO of SBI Mutual Fund from November 2013 to August 2016. In August 2016, Mr. Khara was appointed as the Managing Director (MD) of the State Bank of India. Beyond his academic qualifications, Mr. Khara is also a Certified Associate of the Indian Institute of Bankers (CAIIB).
• Dinesh Khara has a remarkable career trajectory within the State Bank of India. He embarked on his journey with the bank as a probationary officer in 1984. He has played a pivotal role in overseeing the merger of five associates and the Bhartiya Mahila Bank with SBI.

Awards News

12.Dilip Nongmaithem Receives Bal Sahitya Puraskar In Manipuri Language

• The Sahitya Akademi, India’s premier literary institution, has once again recognized and celebrated outstanding literary contributions with the prestigious ‘Bal Sahitya Puraskar‘ for the year 2023.
• This time, the honor has been conferred upon Dilip Nongmaithem, an accomplished author in the Manipuri language, for his remarkable work titled “Ibemma Amasung Ngabemma.” This award is a testament to his profound storytelling and significant impact on children’s literature.
• The accolade consists of an engraved copper-plaque, symbolizing the recognition of the author’s literary achievement, and a monetary prize of ₹50,000, which further supports and encourages their creative endeavors.

13.Nobel Peace Prize 2023 awarded to Narges Mohammadi

• The Norwegian Nobel Committee has decided to award the Nobel Peace Prize for 2023 to to Narges Mohammadi for her fight against the oppression of women in Iran and her fight to promote human rights and freedom for all.
• However, her brave struggle has come with tremendous personal costs. Altogether, the regime has arrested her 13 times, convicted her five times, and sentenced her to a total of 31 years in prison and 154 lashes.
• This year’s peace prize also recognises the hundreds of thousands of people who, in the preceding year, have demonstrated against Iran’s theocratic regime’s policies of discrimination and oppression targeting women. The motto adopted by the demonstrators – “Woman – Life – Freedom” – suitably expresses the dedication and work of Narges Mohammadi.

Appointments News

14.Ramaswamy N Appointed as Chairman and Managing Director of GIC Re

• On October 4, 2023, the General Insurance Corporation of India (GIC Re) made a significant announcement regarding the appointment of its new Chairman and Managing Director (CMD), Ramaswamy N. This appointment is effective from October 1, 2023.
• The appointment of Ramaswamy N follows the standard succession planning procedures as Devesh Srivastava, the outgoing CMD, concluded his four-year term at the end of September 2023 upon reaching the age of 60.
• Ramaswamy N’s association with GIC Re dates back to 1988 when he joined as a direct recruit officer. Over the course of more than three decades, he has demonstrated unwavering commitment and expertise in various facets of non-life insurance.

Sports News

15.Asian Games 2023, Abhishek, Ojas, Prathamesh Win Gold in Compound Men’s Team Archery

• India’s men’s compound team of Abhishek Verma, Ojas Deotale and Prathamesh Jawkar secured another archery gold medal after its 235-230 win against South Korea in the Asian Games.
• The third end started with Korea scoring 28/30 while India managed a perfect 30. Another nine from Korea in the second trio of arrows helped extend its lead to five points to 175-170 after End 3. India scored 60/60 in the final end to ensure that Korea got no space to make its way back.
• Earlier, the women’s compound team of Jyothi Surekha Vennam, Aditi Gopichand Swami and Parneet Kaur bagged a gold medal.

16.Asian Games 2023: Dipika Pallikal, Harinder Pal Sandhu clinch gold in Squash Mixed

• India’s Dipika Pallikal and Harinder Pal Sandhu won the gold medal in the mixed doubles squash tournament at the Asian Games 2023 in Hangzhou, the People’s Republic of China.
• Dipika Pallikal and Harinder Pal Sandhu defeated Malaysia’s Aifa Azman-Mohd Syafiq Kamal 2-0 (11-10, 11-10) in the mixed doubles final. This is the first time a squash mixed doubles tournament has featured at the Asian Games.
• India has made its mark at the Asian Games 2023, achieving its best-ever medal tally in the history of the tournament. As of October 5, India has won a total of 84 medals, with 21 gold medals, 31 silver medals and 32 bronze medals.

Science and Technology News

17.Nokia Opens 6G Lab Facility In Bengaluru

• Telecom giant Nokia has made a significant stride towards the future of wireless technology with the establishment of its state-of-the-art 6G lab at the company’s global R&D center in Bengaluru, India.
• This “first-of-its-kind” project is set to revolutionize the way we perceive and interact with the digital and physical worlds. The primary objective is to accelerate the development of fundamental technologies and innovative use cases that will shape the future of wireless communication.
• One aspect of Nokia’s 6G lab is its research into “network as a sensor” technology which enables wireless networks to act as sensors, capable of perceiving objects, people, and movement without the need for traditional on-board sensors. Nokia’s 6G lab aims to fully integrate sensing capabilities into the wireless network infrastructure.

Obituaries News

18.Veteran Communist Party Leader Anathalavattom Anandan Passed Away

• Veteran CPI(M) leader and former legislator Anathalavattom Anandan, who played a key role in building the trade union base for the party in the state, passed away at a hospital on Thursday. He was 86 years old.
• Anathalavattom Anandan was born in Varkala, Thiruvananthapuram district, in 1937. His journey in the world of politics began in 1954. In 1956, Anandan became a member of the undivided Communist Party of India (CPI) and remained steadfast even after the party split in 1964.
• He was elected to the state assembly from the Attingal constituency three times, representing the people’s interests and championing the cause of the working class. His tenure in the legislative assembly, spanning 1987, 1996, and 2007, demonstrated his commitment to serving the people of Kerala.

Important Current Affairs of 6 October 2023

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