International News

Jericho Missile: A'Doomsday' Weapon

• Recently, Israeli legislator Revital “Tally” Gotliv, a member of the Knesset representing Prime Minister Benjamin Netanyahu’s Likud Party, sparked a global debate with her provocative comments about the use of a "doomsday" weapon against Hamas and Palestine.
• Gotliv made these statements on a popular social media platform. The Jericho missile program, dating back to the 1960s and initially a collaboration with the French aerospace company Dassault, is integral to Israel's military capabilities.
• Named after the biblical city in the West Bank, the Jericho-3 is an intermediate-range missile system with impressive specifications, boasting a single warhead weighing approximately 750 kilograms and a range of 4,800 to 6,500 kilometers.
• With a payload capacity of about 1,300 kilograms, it remains a formidable part of Israel's military arsenal.

Power Minister R.K. Singh To Conduct ISA’s Sixth Assembly In New Delhi From October 30

• The Sixth Assembly of the International Solar Alliance (ISA) is scheduled to take place in New Delhi from October 30 to November 2, 2023.
• This prestigious event will be presided over by the President of the ISA Assembly and the Union Minister for Power and New & Renewable Energy, Government of India, Shri R.K. Singh.
• The Sixth ISA Assembly will serve as a platform for in-depth discussions on ISA initiatives that directly impact crucial aspects of energy, including energy access, energy security, and energy transitions.
• Primary areas of focus will include universalization of energy access through solar mini-grids, mobilizing finance for accelerated solar deployment, and diversifying supply chains and manufacturing for solar.
• With 96 countries already registered to participate, including 20 ministers, and the involvement of various multilateral development banks and stakeholders, the event promises to be a significant milestone in advancing solar energy on the world stage.

State News

India’s First Regional Rapid Transit System (RRTS) To Be Launched In UP

• Prime Minister Shri Narendra Modi is set to inaugurate the priority section of the Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) Corridor and simultaneously launch the RapidX train, symbolizing the beginning of RRTS operations in India.
• This event will take place at the Sahibabad RapidX Station in Uttar Pradesh on October 20, 2023.
• The priority section, spanning 17 kilometers, is a significant development in India’s transportation infrastructure, connecting Sahibabad to the ‘Duhai Depot’ with stations at Ghaziabad, Guldhar, and Duhai along the way.
• The RRTS aims to provide high-speed trains for intercity commuting every 15 minutes, with the potential to increase frequency to as often as every 5 minutes, depending on demand.

Tamil Nadu’s AI-Powered Elephant Protection System Aims To Prevent Train Collisions

• Tamil Nadu is nearing the completion of its pioneering artificial intelligence (AI)-based early warning system designed to safeguard wild elephants from train collisions.
• This innovative project is being implemented along the Ettimadai–Walayar railway section, providing an additional layer of protection for these majestic pachyderms.
• The Forest Department has successfully installed 12 e-surveillance towers for this groundbreaking project, divided between the ‘A’ and ‘B’ lines of the twin single-line railway.
• Thermal imaging cameras have been affixed to all towers along the ‘A’ line, while the ‘B’ line is currently undergoing camera installation and networking-related tasks.
• Tamil Nadu’s AI-based early warning system stands as a remarkable initiative to preserve the lives of wild elephants and reduce the risks associated with train collisions, demonstrating the harmonious coexistence of technology and conservation.

Defence News

India Likely To Sign Deal With US For 31 MQ-9B Drones By Feb 2024

• India is in the process of finalizing a significant defense deal with the United States, involving the purchase of 31 MQ-9B Unmanned Aerial Vehicles (UAVs) from General Atomics (GA).
• Deliveries will commence from February 2027, three years after the contract's signing, with an estimated cost of $3,072 million.
• The drones, in Sky Guardian and Sea Guardian variants, offer enhanced Intelligence, Surveillance, and Reconnaissance (ISR) capabilities for the Indian armed forces, with the ability to fly long ranges, communicate via satellite for up to 40 hours, operate in diverse weather conditions, and safely integrate into civil airspace.

21st India-France Military Sub-Committee Meeting Held In New Delhi

• The 21st edition of the  Military Sub-Committee (MSC) meeting took place on October 16-17, 2023, at the Air Force Station in New Delhi.
• Co-chaired by Air Vice Marshal Ashish Vohra from the Indian side and Major General Eric Peltier from the French side, the India-France MSC serves as a forum to advance defense cooperation between the two countries.
• The discussions during the two-day meeting focused on exploring new initiatives within the scope of existing bilateral defense cooperation mechanisms and reinforcing ongoing defense engagements.

Banking News

Federal Bank Launched ‘Mookkannoor Mission’ Initiative At Its Founder’s Village

• On the occasion of the 106th birth anniversary of its visionary founder, P Hormis, the Federal Bank inaugurated the ‘Mookkannoor Mission,’ an initiative aimed at driving change and progress in the village of Mookkannoor, located in the Ernakulam district of Kerala.
• This comprehensive vision encompasses various activities to enhance the overall well-being of the village, including digitization, cleanliness drives, waste management, tree plantation, community development, and the implementation of renewable energy projects.

RBI Revises KYC Rules, Offering Improved Guidance To Prevent Money Laundering

• The Reserve Bank of India (RBI) has made significant revisions to its master direction on Know Your Customer (KYC) for regulated entities.
• These changes incorporate amendments to the Prevention of Money Laundering rules and deal with the requirement of beneficial owner (BO) identification for partnership firms.
• The revised guidelines provide greater clarity on the definition of "Principal Officer" and fine-tune the definition of Customer Due Diligence (CDD), emphasizing the use of reliable and independent sources for identifying and verifying customers.

Business News

CCEA Approves ₹20,000 Crore Worth 13 GW Green Energy Corridor Project In Ladakh

• The Cabinet Committee on Economic Affairs (CCEA) has approved the Green Energy Corridor (GEC) Phase-II – Inter-State Transmission System (ISTS) for a massive 13-gigawatt (GW) Renewable Energy (RE) project in Ladakh.
• The project's primary objective is to establish a 13 GW renewable energy project in Ladakh, known for its complex terrain, harsh climatic conditions, and defense sensitivities.
• Central Financial Assistance (CFA) will cover 40 percent of the project cost, amounting to ₹8,309.48 crore.
• It will be linked to the Leh-Alusteng-Srinagar line to provide power to Jammu & Kashmir, encompassing 713 km of transmission lines, including a substantial 480 km of HVDC line.

Ranks & Reports News

Global Pension Index 2023: Countries With The Best Pension System

• The 15th annual Mercer CFA Institute Global Pension Index (MCGPI) recently revealed the ranking of retirement income systems in various countries.
• The Netherlands secured the top position, followed by Iceland and Denmark. India showed improvement, moving up to the 45th rank out of 47 systems analyzed.
• The Netherlands led the rankings with the highest overall index value, while Argentina ranked lowest.
• India's overall index value increased due to improvements in adequacy and sustainability sub-indices. Botswana, Croatia, and Kazakhstan were added to the analysis.

Appointments News

Dr Meenesh Shah Elected To Board Of International Dairy Federation

• Meenesh Shah, the Chairman and Managing Director of the National Dairy Development Board (NDDB), has been elected to the Board of the International Dairy Federation (IDF).
• He has a long association with the IDF and played a significant role in organizing the World's largest Dairy Conference in India.
• The IDF serves as a leading source of scientific and technical expertise for all stakeholders in the dairy value chain.

Sanjay Kulshreshtha Named As New Chairman And Managing Director Of HUDCO

• Sanjay Kulshrestha has assumed the position of Chairman & Managing Director of HUDCO.
• With over 32 years of expertise in Infrastructure Financing, he brings a wealth of experience to the role.
• His previous work at REC and involvement in various committees related to infrastructure financing positions him well to lead HUDCO.

Presidential Appointments: New Governors For Odisha And Tripura

• President Droupadi Murmu has appointed new governors for Odisha and Tripura.
• Raghubar Das, the former Chief Minister of Jharkhand, has been appointed as the Governor of Odisha.
• Nallu Indrasena Reddy, a prominent BJP leader from Telangana, has been appointed as the Governor of Tripura, recognizing his political experience and dedication.

Agreements News

MeitY, IBM To Accelerate Innovation In AI, Semiconductor & Quantum Computing

• The Ministry of Electronics and Information Technology (MeitY) has signed three memoranda of understanding (MoUs) with IBM to accelerate developments in AI, semiconductor technology, and quantum computing.
• This collaboration includes the establishment of a National AI Innovation Platform (AIIP) under the Digital India initiative, aiming to enhance the AI ecosystem in India.
• Another MoU focuses on semiconductor research, while the third MoU with C-DAC promotes the 'National Quantum Mission.'

Science & Technology News

Google And Qualcomm Partner To Make RISC-V Chip For Wearable Devices

• Google and Qualcomm's partnership to produce wearable devices based on RISC-V technology is a significant step in the development of open-source hardware in consumer electronics.
• By utilizing RISC-V technology, Qualcomm aims to challenge the dominance of proprietary technologies and enhance the user experience for Android-based wearable devices.

Miscellaneous News

Air India Express Reveals New Logo, Airplane Designs, To Add 50 Planes In 15 Months

• Air India Express, owned by the Tata Group, has unveiled a new brand identity and a dynamic color scheme.
• With the induction of modern and fuel-efficient Boeing B737–8 aircraft and plans to add 50 more planes in the next 15 months, the airline is embarking on an ambitious growth journey.
• Over the next five years, it aims to expand its fleet to about 170 narrow-body aircraft, covering both domestic and short-haul international routes.