National News

India To Host World’s Largest Textiles Event, Bharat Tex 2024

• India is gearing up to host the prestigious Bharat Tex 2024 Expo, slated for February 26-29 next year.
• This event promises to spotlight India's prowess as a dependable textile product supplier, encompassing the entire value chain, all under one roof.
• With an expansive exhibition area spanning 2,00,000 square meters, Bharat Tex 2024 Expo is poised to become the world's largest textile fair in terms of exhibition
• Minister Goyal emphasized that this platform would offer weavers, craftsmen, and the handloom sector a global stage to showcase their talents, setting benchmarks for the future and showcasing India as a global player.

International News

US Imposes Sanctions On Three Chinese Firms For Alleged Missile Component Supply To Pakistan

• The United States has imposed sanctions on three Chinese companies for their alleged involvement in supplying missile components to Pakistan.
• These sanctions were issued under Executive Order 13382, which focuses on entities involved in the proliferation of weapons of mass destruction and their delivery systems.
• The three Chinese companies subjected to sanctions are General Technology Limited, Beijing Luo Luo Technology Development, and Changzhou Utek Composite Company.
• The US State Department has declared these sanctions as part of the global nonproliferation regime, aimed at curbing the proliferation of weapons of mass destruction and associated procurement activities.

State News

Project Nilgiri Tahr: Tamil Nadu’s Effort To Conserve An Endangered Species

• Tamil Nadu's Chief Minister M.K. Stalin has launched "Project Nilgiri Tahr," a ₹25 crore initiative focused on the conservation and protection of the endangered Nilgiri Tahr species.
• The project's core objective is to deepen our understanding of the Nilgiri Tahr's population, distribution, and ecological needs, critical for their conservation.
• Project Nilgiri Tahr also aims to reintroduce these endangered species to their historic habitats, helping restore their natural range.
• The Forest Department has established a dedicated project office in Coimbatore, overseeing the various aspects of the project's execution.

Iron Sting Weapon Israel

• Israeli forces have introduced the revolutionary "Iron Sting" system, designed to neutralize rocket launchers with exceptional accuracy, marking the first-ever use of this technology.
• The Magellan unit, in collaboration with the Air Force, has successfully thwarted dozens of terrorists using various weapons, including the innovative mortar bomb known as "Steel Sting."
• This deployment promises to revolutionize ground warfare by providing military units with effective firepower while minimizing collateral damage and civilian casualties.

Banking News

RBI Imposes ₹2.5 Crore Penalty On L&T Finance For Non-Compliance

• The Reserve Bank of India (RBI) has taken regulatory action against L&T Finance Limited by imposing a monetary penalty of ₹2.50 crore due to non-compliance with specific provisions of the Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016.
• The RBI identified deficiencies in compliance during the statutory inspection, including a failure to inform retail borrowers, lack of notification for changes in penal interest rates, and non-disclosure of changes in loan terms and conditions.

HDFC Bank Unveils XpressWay Digital Platform For Swift Loans

• HDFC Bank has introduced the cutting-edge digital platform, XpressWay, designed to streamline and expedite banking products and services, offering customers a more rapid and hassle-free banking experience.
• XpressWay enhances efficiency, reduces environmental impact, and provides self-service options for both existing and new customers, aligning with HDFC Bank's digital-focused brand, 'NOW.'

Business News

Govt To Invest ₹30,000 Crore To Expand Crop Insurance Portal Coverage

• The government has revealed plans to allocate ₹30,000 crore to enhance the Pradhan Mantri Fasal Bima Yojana (PMFBY) portal.
• The initiative aims to transform the PMFBY into a comprehensive platform, extending insurance coverage beyond crops to include various agricultural assets.
• The innovative AIDE app, launched in July, will facilitate door-to-door enrollment, making crop insurance more accessible for farmers.

Appointments News

Sanjay Kumar Jain Selected As CMD, IRCTC

• Sanjay Kumar Jain, an officer of the Indian Railway Traffic Service (IRTS), has been appointed as the Chairman and Managing Director (CMD) of the Indian Railway Catering and Tourism Corporation (IRCTC).
• His appointment follows a vacancy in the position since the retirement of Mahendra Pratap Maal in January 2021.
• With a diverse background and extensive experience within the Indian Railways, Sanjay Kumar Jain is well-equipped to lead the organization.

Ashok Vaswani To Succeed Uday Kotak As New CEO Of Kotak Mahindra Bank

• Ashok Vaswani, an accomplished international banker, is set to take the helm as the Managing Director and Chief Executive Officer of Kotak Mahindra Bank, succeeding Uday Kotak.
• Ashok Vaswani brings decades of experience to the role, having held pivotal positions in prominent financial institutions.
• His appointment has received approval from the Reserve Bank of India, coinciding with the release of the bank's positive financial results for the second quarter.

Awards News

CJI Chandrachud Honored With “Award For Global Leadership” By Harvard Law School

• Chief Justice of India (CJI) DY Chandrachud, an esteemed alumnus of Harvard Law School, has been conferred with the prestigious "Award for Global Leadership" by the institution.
• Chief Justice DY Chandrachud’s association with Harvard Law School extends several decades, where he pursued his Master of Laws (LLM) and Doctor of Juridical Science (SJD) degrees.
• This recognition coincided with Harvard Law School's Graduate Law Program's 100th-anniversary celebration, underscoring the institution's commitment to legal education and innovation.

Important Days News

International Stuttering Awareness Day 2023 Observed On 22 October

• International Stuttering Awareness Day, observed annually on October 22nd, is dedicated to raising awareness about stuttering, a speech disorder characterized by disruptions in fluency.
• This year's theme, "One Size Does NOT Fit All," emphasizes that each person with a stutter experiences life differently and faces unique challenges.
• With over 70 million people worldwide dealing with stuttering, this day serves to educate people about the condition's complexities and diverse needs.

Sports News

Asian Para Games 2023 Opening Ceremony

• The Asian Para Games, organized by the Asian Paralympic Committee, commenced on October 22, 2023, featuring 566 medal events across 22 sports and 24 disciplines.
• India sent its largest-ever contingent, consisting of 313 athletes, to compete in various events at the Asian Para Games 2023.
• Renowned Para Shuttler Parul Parmar and Para-club Thrower Amit Saroha represented India during the opening ceremony, symbolizing the spirit of Indian para-athletes.

Shubman Gill Becomes Fastest Batter To Score 2000 Runs In ODIs

• Shubman Gill, the dynamic Indian opener, set a new world record by becoming the fastest player to reach 2000 runs in One Day International (ODI)
• He achieved this milestone in just 38 innings during India's World Cup match against New Zealand, surpassing Hashim Amla's previous record.
• This remarkable feat underscores Gill's exceptional talent and contribution to ODI cricket.

Science & Technology News

ISRO’s Gaganyaan Test Missions TV-D1: A Historical Milestone

• ISRO's recent test flight of the Gaganyaan mission TV-D1 marked a significant milestone in space exploration.
• The test flight evaluated the performance of drogue parachutes in stabilizing the spacecraft and decelerating it during reentry into Earth's atmosphere.
• The Gaganyaan project encompasses a series of test vehicle missions to ensure crew safety and paves the way for the 2025 crewed mission.
• This endeavor will culminate in unmanned missions and the launch of the female humanoid robot, Vyommitra.

Obituaries News

Legendary Spinner And Former Indian Captain, Bishan Singh Bedi Passes Away At 77

• Cricket legend Bishan Singh Bedi, a former captain of the Indian cricket team and one of the greatest left-arm spinners in the sport's history, passed away at the age of 77.
• Bedi's contributions to cricket, both on and off the field, have left an enduring legacy.
• His impact extended beyond international cricket, with a successful stint in County cricket and recognition with the Padma Shri. Bishan Singh Bedi's influence on the game will be celebrated and remembered for generations to come.