International News

1. Turkish Republic’s 100th Anniversary Celebration

• The Turkish Republic celebrated its centennial, commemorating a century since its foundation as a modern, secular state following the fall of the Ottoman Empire.
• Situated primarily on the Anatolian Peninsula in Western Asia, Turkey is a transcontinental country with a smaller part in southeastern Europe, sharing borders with eight nations, including Greece, Bulgaria, Georgia, Armenia, Azerbaijan, Iran, Iraq, and Syria.
• Ankara serves as the capital, and Istanbul, the largest city and economic center.
• The official language is Turkish, and transactions are conducted in the Turkish Lira (TRY).

2. Norway’s Support for India’s ‘Hunger Project’ in Uttarakhand

• Norway has initiated a substantial effort to back India's 'Hunger Project' in Uttarakhand, allocating a budget of ₹44.7 million over three years until September 2026.
• This endeavor seeks to empower women leaders, bolster food security, and safeguard the environment in Uttarakhand's ecologically sensitive region.
• The 'Hunger Project' concentrates on enhancing the capabilities of elected women representatives (EWRs) and federations. It will be executed in three districts, nine blocks, 172 gram panchayats, and 145 van panchayats in Uttarakhand.
• A primary objective is to bolster female leadership within gram panchayats, the local self-governing bodies, emphasizing collaboration with van panchayats and the broader community, particularly women. The project also aims to foster awareness through 334 Jagrukh Manchs (awareness platforms).

Defence News

3. Indian Army and Air Force Contingent Sets Off for ‘Exercise KAZIND-2023’

• A contingent comprised of 120 personnel from the Indian Army and Indian Air Force has embarked on a mission to Kazakhstan for the 7th edition of the Joint Military 'Exercise KAZIND-2023.'
• This collaborative endeavor is scheduled to take place in Otar, Kazakhstan, spanning from October 30 to November 11, 2023.
• The Indian Army contingent, led by a Battalion from the DOGRA Regiment, consists of 90 personnel, with 30 Air Force personnel from both sides also actively participating in this year's Exercise.
• This annual joint exercise, originally named 'Exercise PRABAL DOSTYK' when established in 2016, has evolved into a bi-service exercise, encompassing the Air Force component this year.

4. Indian Navy Launches 25T Bollard Pull Tug ‘MAHABALI’ in Gujarat

• On October 28, 2023, Commodore Sunil Kaushik launched the impressive vessel, the 25T Bollard Pull Tug named 'Mahabali,' at M/s Shoft Shipyard Pvt Ltd in Bharuch, Gujarat.
• This launch not only signifies a new addition to India's naval fleet but also marks a significant milestone in the 'Make in India' initiative of the Ministry of Defence.
• The construction and delivery of the 'Mahabali' and two other 25T BP Tugs were the result of a concluded contract with M/s Shoft Shipyard Pvt Ltd (SSPL).
• These tugs have been meticulously built in accordance with the classification rules of the Indian Register of Shipping (IRS), ensuring they meet the highest standards of safety and quality, crucial for any naval operation.

Banking News

5. Fincare SFB To Merge With AU Small Finance Bank

• Fincare Small Finance Bank (Fincare SFB) is slated to merge with AU Small Finance Bank (AU SFB) effective from February 1, 2024, pending requisite approvals and regulatory endorsements.
• This noteworthy merger aims to establish a robust financial institution with enhanced capabilities and a wider reach. Under the merger agreement, shareholders of Fincare SFB will receive 579 shares in AU SFB for every 2,000 shares they hold in Fincare SFB.
• Following the transaction, existing Fincare SFB shareholders are expected to maintain approximately 9.9% ownership in AU SFB.
• As part of the merger, the Managing Director & CEO of Fincare SFB will assume the role of Deputy CEO at AU SFB. Additionally, Divya Sehgal, a current director on Fincare SFB's board, will join AU SFB’s board, augmenting the leadership team.

6. RBI Revises Bulk Deposit Limit of Regional Rural Banks to Rs 1 Crore

• The Reserve Bank of India (RBI) has undertaken a review of bulk deposit limits for financial institutions, with a specific focus on Regional Rural Banks (RRBs).
• The RBI has substantially increased the bulk deposit limit for Regional Rural Banks from Rs 15 lakh to Rs 1 crore, with the aim of promoting equity among banks, particularly those serving rural and semi-urban areas.
• This adjustment will have implications on how banks can offer interest rates on bulk deposits.
• With the raised limit, RRBs will face constraints on operational autonomy, as they are now required to offer a uniform interest rate to all depositors with the same tenure.

Business News

7. Swan Energy Acquires Reliance Naval and Engineering for ₹231 Crore

• Swan Energy, a Mumbai-based conglomerate, has successfully acquired Reliance Naval and Engineering through its special purpose vehicle, Hazel Infra, by paying ₹231 crore.
• This strategic acquisition aligns with the Indian government's Atmanirbhar Bharat initiative and bolsters India's capabilities in naval defense, commercial vessel manufacturing, and ship repairing.
• Swan Energy's objective is to become a leading player in naval defense, commercial vessel manufacturing, and ship repair, enhancing India's heavy fabrication capabilities in naval, defense, and oil and gas sectors, thereby narrowing the existing demand-supply gap.

Important Days News

8. World Stroke Day 2023: Theme, Origin, Significance

• World Stroke Day 2023 was celebrated under the theme 'Together we are #Greater Than Stroke' on October 29.
• This annual observance serves to raise awareness about strokes, their treatment, and prevention. Strokes, also known as brain attacks, are a significant global cause of disability and mortality.
• The A.S.T. approach highlights that strokes are treatable, preventable, and curable, emphasizing the importance of recognizing Face drooping, Arm weakness, Speech difficulty, and Time as critical indicators of a stroke.

9. World Cities Day 2023

• World Cities Day, held on October 31, 2023, focuses on the theme "Financing sustainable urban future for all."
• This day spotlights the global interest in urbanization and aims to address urbanization challenges for sustainable urban development worldwide.
• World Cities Day, designated by the United Nations General Assembly, is an annual celebration to stimulate cooperation among nations in tackling urbanization challenges and contribute to sustainable urban development on a global scale.

10. 114th Birth Anniversary of Homi Jehangir Bhabha

• The 114th birth anniversary of Homi Jehangir Bhabha, a renowned nuclear physicist, was celebrated on October 30.
• Bhabha played a pivotal role in shaping India's scientific future, contributing to various theories and establishing research units in the field of nuclear physics.
• His work was instrumental in advancing scientific knowledge and research in India, ultimately leading to the development of India's nuclear program.

Ranks & Reports News

11. MGNREGS Reports a 7.5% Decrease in Active Workforce Participation

• Data analysis conducted by LibTech India has revealed a 7.5% decrease in active workforce participation in the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) for the period from April to September 2023.
• The workforce has declined from 15.49 crore workers in the previous fiscal year to 14.33 crore in April-September 2023, with a net reduction of 80 lakh workers in the ongoing financial year.
• While 14 states reported an increase in employment trends, six states experienced a decline, with West Bengal, Himachal Pradesh, and Madhya Pradesh notably affected.
• In contrast, Chhattisgarh, Jharkhand, and Tamil Nadu saw significant increases in employment opportunities under MGNREGS.

Appointments News

12. SBI Ropes In Cricket Icon MS Dhoni as Brand Ambassador

• The State Bank of India (SBI), the nation's largest lender, has appointed the cricketing legend, Mahendra Singh Dhoni, as its official Brand Ambassador.
• Dhoni will play a crucial role in various marketing and promotional campaigns for SBI, as the bank aims to resonate with a broader and younger audience, leveraging Dhoni's immense popularity as one of India's most beloved sports figures.
• Dhoni has also taken up the role of a brand ambassador for various well-known companies and products in 2023, including Oreo, India Cements, Dream11, and Reebok, further solidifying his status as a highly sought-after brand ambassador.

Awards News

13. Nita Ambani Receives USISPF Global Leadership Award for Philanthropy and Corporate Social Responsibility

• Nita Ambani, the Founder and Chair of Reliance Foundation, was honored with the 2023 USISPF Global Leadership Award for Philanthropy and Corporate Social Responsibility.
• Nita Ambani has made significant contributions to philanthropy and corporate social responsibility, with a focus on various initiatives in education, arts, sports, and healthcare.
• Her work has had a profound impact on millions of lives in India, particularly in empowering women and children.
• The US-India Strategic Partnership Forum (USISPF) recognized her outstanding contributions, emphasizing her role in bridging the gender gap and enhancing women's participation in India's economy.

Sports News

14. Paytm Becomes Official Sponsor for 37th National Games

• The 37th National Games commenced with great enthusiasm as Paytm, a prominent Indian fintech company, was named the official sponsor of the event.
• The inauguration of the tournament was graced by Prime Minister Narendra Modi at the Jawaharlal Nehru Stadium in Fatorda, South Goa.
• Paytm's sponsorship includes the introduction of QR codes, soundbox technology, and card machines across various government departments in Goa, including panchayats and municipalities, streamlining payment processes and promoting transparency.
• The National Games, which bear resemblance to the Olympics, feature over 10,000 athletes competing in 43 different sports disciplines across 28 venues from October 26 to November 9, 2023.

15. India Grabs 111 Medals at the 4th Asian Para Games

• Indian para-athletes achieved a historic milestone by securing 111 medals, including 29 gold, 31 silver, and 51 bronze, at the 4th Asian Para Games in Hangzhou.
• Dilip Mahadu Gavit achieved the 100th medal with a gold in the Men's 400m T47 event, showcasing India's para-athletic excellence.
• This achievement marked India's most impressive medal count in the history of the Asian Para Games, surpassing the previous best of 72 medals in 2018.
• The Indian para-athletes have made the nation proud with their exceptional performances on the international stage.