Daily Current Affairs (Eng)

Today Top Current Affairs 8 October 2022

Today Top Current Affairs 8 October 2022 – Here, you will find Daily Current Affairs events which will help you to get more marks in Banking, Insurance, SSC, Railways, UPSC, CLAT and all State Government Exams. also, get Latest Current Affairs Quiz and Monthly Current Affairs 2022 PDF to crack your exams.

National

Indian Railways plans to become Net Zero Carbon Emitter by 2030

Indian Government has set a target of 33% emissions intensity reduction as part of its Nationally Determined Contributions (NDCs). Railways have set a target of becoming a “Net Zero” entity by 2030 by completing the electrification of all railway tracks. Indian Railways is contributing to India’s NDC towards combating Climate Change through several means:

  • By 2030, is to enhance the share of the Railways in the overall land-based freight transport from 36% to 45%.
  • Indian Railways will establish Dedicated Freight Corridors (DFCs) to reduce emissions by about 457 million tons of CO2 over a 30-year period.

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DPIIT notifies credit guarantee scheme for startups

The Department for Promotion of Industry and Internal Trade (DPIIT) notified the credit guarantee scheme for startups to provide them collateral-free loans up to a specified limit on 7 October 2022.

  • The Central Government has given its approval for the ‘Credit Guarantee Scheme for Startups (CGSS) for the purpose of providing credit guarantees to loans extended by member institutions (MIs) to finance eligible borrowers being startups.
  • Credit Guarantee Scheme for Startups (CGSS) aims to provide much-needed collateral-free debt funding to startups.

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Banking

SmartHub Vyapar App Launched by HDFC Bank & Mintoak Innovations

India’s largest private sector bank, HDFC Bank launched the SmartHub Vyapar Merchant app with Mintoak Innovations, comprehensive payments and banking solution designed to fulfil the everyday business needs of merchants. SmartHub Vyapar App was developed by HDFC Bank in partnership with Mintoak Innovations India Pvt. Ltd which is a merchant SaaS platform with a modular product offering to help banks connect with their merchants.

  • SmartHub Vyapar will facilitate instant, digital and paperless merchant onboarding for HDFC Bank customers.
  • It will allow merchants to accept interoperable payments across multiple payment modes which include Cards – Tap & Pay, UPI and QR code.
  • Merchants can accept remote payments by sending a payment link over mobile or email to facilitate non-face-to-face collections.

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Unity Bank introduces special FD scheme ‘Shagun 501’ with lucrative interest rate

Unity Small Finance Bank Limited (Unity Bank) introduced a special fixed deposit scheme “Shagun 501” with attractive interest rates on the occasion of the Dussehra and Diwali festivals. Retail consumers will receive a reasonable return of 7.90% yearly for a 501-day fixed deposit, while senior citizens will receive 8.40% per year.

  • The special fixed deposit scheme ‘Shagun 501’ is only valid for money deposited by 31st October 2022.
  • A unique FD was created by the bank with tempting interest rates to mark the festive season in the country.
  • The interest rates on callable and non-callable bulk deposits (deposits greater than Rs. 2 crores) were also changed.

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ICICI Bank Launches ‘Smart Wire’ Facility for Inward Remittances

ICICI Bank launched an online solution Named ‘Smart Wire’ to help its customers carry out SWIFT-based (Society for Worldwide Interbank Financial Telecommunications) inward remittances in a faster and hassle-free manner. ICICI Bank becomes the first bank in the country to introduce this faster online solution to receive inward wire remittances. ‘Smart Wire’ facility will allow both NRIs and resident customers to carry inward remittance transactions in an online and paperless way.

  • The ‘Smart Wire’ facility will enable the beneficiary to initiate the wire transfer request, submit online declaration/documents, block the exchange rates in advance and track the status of the transaction.

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SEBI clarifies on Guidelines pertaining to Execution of DDPI

Sebi widened the scope of the Demat Debit and Pledge Instruction (DDPI) for pledging and repledging of securities for margin purposes in order to restrain the misuse of Power of Attorney (PoA) given by clients to stock brokers.

  • Under DDPI, Mutual fund transactions executed on stock exchange order entry platforms and tendering of shares in open offers through stock exchange platforms will be covered.
  • The DDPI acts for the same purpose as PoA and significantly mitigates the misuse of PoA.

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IDBI Bank Launches Multiple Digital Solutions on Its 59th Foundation Day

IDBI Bank launched several digital solutions on its 59th Foundation Day. IDBI Bank also launched the DigiKCC platform for the digitization of the Kisan Credit Card (KCC) loan process to make it more convenient for borrowers. the DigiKCC platform will enable an end-to-end digital experience. The bank also launched a Warehouse Receipt Processing System or WPS for an integrated digital solution for loans against warehouse receipts.

  • IDBI Bank upgraded its mobile banking app, GO Mobile+ for the benefit of its senior citizen customers.
  • The app will offer special facilities such as door-step banking under the ‘Naman’ page of the app.

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Economy

World Bank cuts India’s Growth Forecast to 6.5% for FY23

The World Bank slashed India’s growth forecast for 2022-23 (April-March) by 100 basis points and estimated that the Indian economy will grow at 6.5% compared to its earlier estimate of 7.5% released in June 2022.

  • Last week, the Reserve Bank of India reduced its growth estimate for FY23 to 7% from the 7.2% estimated earlier.
  • Growth estimates for the South Asia region India, Pakistan, Afghanistan, Bangladesh, Sri Lanka, Nepal, Bhutan and the Maldives had been revised down to 5.8% from 6.8% forecast in June.

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Agreement

NTPC signs MoU with GE Gas Powerfor demonstrating hydrogen co-firing in gas turbines

NTPC signed a Memorandum of Understanding (MoU) with GE Gas Power to demonstrate hydrogen co-firing blended with natural gas in GE’s 9E gas turbines installed at NTPC’s Kawas combined-cycle gas power plant in Gujarat.

  • NTPC and GE Gas Power will jointly explore the pathways to reduce CO2 emissions from Kawas gas power plant and further implementation at scale across NTPC’s installed units in India.

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Appointment

RBI approves Prashant Kumar’s appointment as Yes Bank CEO for 3 years

The Reserve Bank of India has approved the appointment of Prashant Kumar as MD and CEO of Yes Bank for a period of three years with effect from October 6, 2022. YES Bank has managed to secure a capital infusion of ₹8,900 crores from US-based private equity investors Carlyle and Advent International under the leadership of Prashant Kumar as the MD and CEO.

  • Kumar was appointed as Managing Director & Chief Executive Officer of Yes Bank post Reconstruction in March 2020.
  • Kumar’s appointment is subject to the approval of shareholders.

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Gulf Oil appointed Smriti Mandhana as Brand Ambassador

Indian cricket star Smriti Mandhana has signed on as a brand ambassador of lubricant manufacturer Gulf Oil India and joins current men’s cricket ace Hardik Pandya and former captain Mahendra Singh Dhoni as an ambassador for the company.

  • Gulf Oil aims to celebrate women’s power’ and ‘inspire a female audience in the country and will also honour the achievements of Indian women cricketers.
  • Gulf Oil becomes the first company in the lubricant space which has elected a woman cricketer as ambassador to represent the organization and its ethos.

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Birla MD & CEO Balasubramanian re-elected as Chairman of AMFI

MD & CEO, Aditya Birla Sun Life AMC A. Balasubramanian has been re-elected Chairman of the Association of Mutual Funds at its recent board meeting. The board members unanimously re-elected Balasubramanian and Radhika Gupta, MD, Edelweiss Asset Management, as the Vice-Chairperson to hold office till the annual meeting.

  • Vishal Kapoor (Chief Executive Officer, IDFC Asset Management) was re-elected Chairman of the AMFI Committee of Certified Distributors (ARN Committee).
  • Sundeep Sikka (ED & Chief Executive Officer, Nippon Life India Asset Management) was elected Chairman of the AMFI ETF Committee.
  • Radhika Gupta (MD, Edelweiss Asset Management) was appointed as Chairperson of the AMFI Committee on Operations, Compliance and Risk.

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Walkaroo appoints Ajay Devgn as brand ambassador

Footwear brand Walkaroo International Ltd has appointed Bollywood actor Ajay Devgn as its brand ambassador. The company has taken up the marketing campaign which includes three commercial films of the actor on the brand theme ‘Walk with Walkaroo.’

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Bank of India Mutual Fund appoints Mohit Bhatia as CEO

Bank of India Investment Managers Private Ltd has appointed Mohit Bhatia as its chief executive officer, which will be effective from 4 October. Bhatia is having over 26 years of professional experience in the mutual funds and the financial services industry in areas of sales and distribution, team building, marketing & branding, and building of digital eco-system.

  • Bhatia is a BE (mechanical engineering) and an MBA from Management Development Institute (Gurgaon).

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Obituary

Veteran actor Arun Bali passes away at 79 in Mumbai

Veteran actor Arun Bali passed away at the age of 79 in Mumbai, was suffering from a rare neuromuscular disease myasthenia gravis. Arun Bali was also admitted to the Hirnandani Hospital.

  • Arun Bali was known for his roles in various films including 3 Idiots, Kedarnath, Panipat, Hey Ram, Dand Nayak, Ready, Zameen, Policewala Gunda, Phool Aur Angaar, and Raam Jane, among many other films.
  • He also worked in numerous films and television series.

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Important Days

World Cotton Day 2022

World Cotton Day (WCD) is observed on 7th October every year to provide an opportunity to recognize the importance of cotton worldwide. this day was recognized by WHO.

  • The main purpose of celebrating WCD is to raise awareness about cotton across the world.
  • It also marks its role in generating employment and maintaining economic stability in least-developed countries (LDCs).
  • The theme for 2022’s celebration of World Cotton Day appears to be “Weaving a better future for cotton.
  • In 2019, WTO conducted World Cotton Day (WCD) on October 7th by the Cotton-4 countries including Benin, Burkina Faso, Chad, and Mali.

<< Read Full News Here >>

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