Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That’s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post, Daily Current Affairs 12 October 2022, we have tried to cover each and every point and also included all important facts from National/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc.
Current Affairs for Competitive Exam – 12 October 2022
BSE gets SEBI nod for social exchange
BSE gets SEBI nod for social exchange: Stock exchange BSE on Friday announced that it has got an in-principle nod from the capital market regulator Securities and Exchange Board of India (SEBI) for the social stock exchange as a separate segment.
October 2022 Current Affairs Quiz
Social stock exchange will enable the listing of non-profit organisations and for-profit social enterprises that are engaged in 15 broad eligible social activities approved by the market regulator.
These social entities can raise funds through equity, issue of zero-coupons zero-principal bonds, MF, social impact funds and development impact bonds.
Russia launches GLONASS-K satellite navigation system
Russia launches GLONASS-K satellite navigation system: Russia has launched a GLONASS-K navigation system from northern cosmodrome, north of Moscow.
October 2022 Current Affairs Quiz
This system was carried by Soyuz-2.1b medium-class launch vehicle. GLONASS-K is a navigation satellite intended as a part of the Russian GLONASS radio-based satellite navigation system.
Russia has spent billions of dollars in the past two decades on developing the GLONASS system. This system seen as a potential rival to the U.S. global positioning system (GPS).
South Indian Bank enters World Book of Records for ‘101 Oonjals’
South Indian Bank enters World Book of Records for ‘101 Oonjals’: South Indian Bank has bagged a world record for staging and swinging the highest 101 Oonjals (Jhoolas), beautifully decorated- in Kochi.
October 2022 Current Affairs Quiz
The South Indian Bank has organized an event ‘Onnichirikkam Oonjaladam’. The World Book of Records team has also presented the award to South Indian Bank officials. Swings were made using wood and rope in the traditional way.
MD and CEO of the South Indian: Murali Ramakrishnan.
Gujarat’s Modhera becomes India’s first 24×7 solar-powered village
Gujarat’s Modhera becomes India’s first 24×7 solar-powered village: In a significant step towards promoting clean energy, Prime Minister Narendra Modi on Sunday declared Modhera, a village in the Mehsana district of Gujarat as India‘s first 24×7 solar-powered village.
October 2022 Current Affairs Quiz
Modhera, is famous for Sun temple that was built during the Chalukya. The village has a ground-mounted solar power plant, and over 1,300 rooftop solar systems with 1kW capacity have been installed on houses to generate electricity. Both the central and state governments have invested over ₹80 crore in this project in two phases.
Kishore Kumar Poludasu becomes new MD & CEO of SBI General Insurance
Kishore Kumar Poludasu becomes new MD & CEO of SBI General Insurance: SBI General Insurance Company has appointed Kishore Kumar Poludasu as its new Managing Director & Chief Executive Officer.
October 2022 Current Affairs Quiz
His appointment was came into effect from 4th October 2022. He was nominated by SBI (parent company). He was associated with SBI since 1991.
Prior to this, he was the Deputy Managing Director, Head of State Bank of India, Singapore Operations. He was also associated with setting up of National Bank for Financing Infrastructure and Development.
Amazon India gets approval by Delhi govt to operate 24/7 in New Delhi
Amazon India gets approval by Delhi govt to operate 24/7 in New Delhi: Delhi Lieutenant Governor, VK Saxena has granted an approval to Amazon India to operate 24/7 in New Delhi.
October 2022 Current Affairs Quiz
The application was submitted by the company around three years back.
Impact:
- Now Amazon’s products can be delivered round-the-clock in New Delhi.
- Boost employment generation.
- Promote a positive and a favourable business environment.
- The decision has been made providing exemption under Sections 14, 15 and 16 of the Delhi Shops & Establishment Act, 1954.
Minister, Anurag Thakur inaugurates Water Sports Center in HP
Minister, Anurag Thakur inaugurates Water Sports Center in HP: Union Minister of Youth Affairs and Sports Shri Anurag Singh Thakur has inaugurated a Water Sports Center in Koldam Barmana, Bilaspur, Himachal Pradesh. The centre will be dedicated to training athletes in water sports like Rowing, Canoeing and Kayaking.
October 2022 Current Affairs Quiz
It is a joint initiated of the Sports Authority of India (SAI) and National Thermal Power Corporation (NTPC). During the event, the Memorandum of Understanding (MoU) was also exchanged between SAI and NTPC.
National Conference on Skilling in Non-Traditional Livelihood for girls
National Conference on Skilling in Non-Traditional Livelihood for girls: Ministry of WCD has organized National Conference on Skilling in Non-Traditional Livelihood for Girls – Betiyan Bane Kushal in New Delhi. This conference was organized under the Beti Bachao Beti Padhao initiative.
October 2022 Current Affairs Quiz
Aim: Convergence between Ministries and Departments to ensure the skill development of girls.
During the event, MoUs was signed between the Ministry of Skill Development and Entrepreneurship and Ministry of Minority Affairs for Skilling of young Girls.
World Arthritis Day 2022 observed on 12th October
World Arthritis day 2022: World Arthritis day is observed on 12 October every year and it is a global health awareness event that helps create awareness about rheumatic and musculoskeletal diseases. This day aims to bring people around the world on a single platform so that their voices are heard and more support is provided for better treatment options for the people affected with rheumatic and musculoskeletal diseases (RMDs).
October 2022 Current Affairs Quiz
World Arthritis Day 2022: Theme
The theme for World Arthritis day 2022 is “It’s in your hands, take action”. The theme aims to encourage people with arthritis, their caregivers, families, and the general public so that they don’t feel that they are alone in this situation.
World Arthritis Day 2022: Significance
World Arthritis day (WAD) plays a major role in encouraging people, medical organizations, and governments across the world to participate in the campaign to spread awareness. Arthritis is an inflammatory joint disorder affecting the joints tissues and connective tissues that results in joint pain and stiffness. There are more than 100 types of arthritis but osteoarthritis and rheumatoid arthritis are the most common ones. Arthritis and related conditions have crippled many lives around the world.
World Arthritis Day 2022: History
World arthritis day (WAD) was established by Arthritis and Rheumatism International (ARI). The first event for World Arthritis day was organized on 12 October 1996. Since then various local, and global communities like Arthritis Foundation have come together to raise awareness and fight the awareness gap in order to provide support and access to the communities.
Nomura Prediction for India in FY24: 5.2% Slowdown in Growth Rate
Nomura Prediction for India in FY24: Nomura predicts that India’s growth will drastically slow down to 5.2% in 2023–24 (FY24) from 7% in the current fiscal year due to the spillover effects of the global downturn. The Japanese brokerage batted for policy vigilance amid the global headwinds, and underlined that macro stability should be the priority, more than growth.
October 2022 Current Affairs Quiz
Nomura Prediction for India in FY24: Key Points
- In FY20, the economy grew at 4%, a multi-year low. It is anticipated that growth will decelerate in FY24, just before the following national elections.
- Nomura expects inflation to average at 6.8% in FY23, a tad above the Reserve Bank of India’s 6.7% estimate, and cool down to 5.3% in FY24. “We share the consensus view that inflation will remain elevated in the foreseeable future and core inflation will remain sticky,” it said.
- Spending reductions would be required in order to fulfil the 6.4% budget deficit objective for FY23, and it was noted that a target of under 6% for FY24 was “circumspect”.
- The company predicted that the RBI will boost the terminal repo rate by 25 basis points in February and 35 basis points in December, respectively, to reach 6.50%.
- Since May, the RBI has increased the repo rate by 190 basis points to control inflation.
Ananth Narayan Gopalakrishnan take charges as whole-time member at SEBI
Ananth Narayan Gopalakrishnan take charges as whole-time member at SEBI: Former banker Ananth Narayan Gopalakrishnan took charge as Whole Time Member, Securities and Exchange Board of India, in Mumbai, on Monday. Ananth Narayan will handle Market Intermediaries Regulation and Supervision Department (MIRSD), Alternative Investment Fund and Foreign Portfolio Investors Department (AFD), Integrated Surveillance Department (ISD), Department of Economic & Policy Analysis (DEPA) and Information Technology Department (ITD), a release from SEBI said. Narayan, who has been a member of various advisory committees of Sebi and RBI, has been appointed for an initial period of 3 years.
October 2022 Current Affairs Quiz
Ananth Narayan Gopalakrishnan: Previous job and Experience
- Before assuming charge, Narayan was an associate professor at SP Jain Institute of Management & Research. He has over two and half decades of experience in the banking and financial markets, during which he held the position of Regional Head of Financial Markets for ASEAN and South Asia at Standard Chartered Bank.
- He has strong expertise in foreign currency, interest rates, derivatives and debt capital markets. Narayan has also worked with Deutsche Bank and Citibank.
Centre Extends Ethanol subsidy scheme till March 2023
Centre Extends Ethanol subsidy scheme till March 2023: The Centre has extended the timeline for disbursement of loans up to March 31 under the ethanol blending programme interest subsidy scheme, notified first in 2018, to facilitate entrepreneurs to complete their projects while availing of government support.
October 2022 Current Affairs Quiz
The Ministry Response:
The Food Ministry issued a notification on October 6 stating the applicants who have submitted their applications to DFPD after the date of notification of the scheme but within the cut-off date prescribed in the notification dated 19.07.2018 and in case of whom, loans were disbursed to them prior to the in-principle approval of DFPD, will also be eligible for interest subvention under the scheme.
Need of 20% Ethanol Blending :
Immense benefits can accrue to the country by 20% ethanol blending by 2025, such as saving Rs 30,000 crore of foreign exchange per year, energy security, lower carbon emissions, better air quality, self-reliance, use of damaged foodgrains, increasing farmers’ incomes, employment generation, and greater investment opportunities.
The E-20 roadmap proposes the following milestones:
- Raise pan-India ethanol production capacity from the current 700 to 1500 crore litres
- Phased rollout of E10 fuel by April 2022
- Phased rollout of E20 from April 2023, its availability by April 2025
- Rollout of E20 material-compliant and E10 engine-tuned vehicles from April 2023
- Production of E20-tuned engine vehicles from April 2025
- Nationwide educational campaign
- Encourage use of water-sparing crops, such as maize, to produce ethanol
- Promote technology for the production of ethanol from non-food feedstock.
Govt Approach:
The Centre has notified different interest subvention schemes for sugar mills and distilleries during 2018-2021, with a view to increasing production of ethanol and its supply under Ethanol Blended with Petrol (EBP) Programme, especially in the surplus season. This will also improve the liquidity position of the sugar mills enabling them to clear cane price arrears of farmers. The government is extending financial assistance in the form of interest subvention at 6 per cent per annum or 50 per cent of rate of interest charged by banks, whichever is lower, on the loans to be extended by banks for five years, including one-year moratorium. With the vision to boost agricultural economy, reduce dependence on imported fossil fuel, save foreign exchange on account of crude oil import bill and reduce air pollution, the government has fixed target of 10 per cent blending of fuel grade ethanol with petrol by 2022, and 20 per cent by 2025.
