Current Affairs 11 October 2022

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NATIONAL AFFAIRS

MOD Approves Creation of Weapon Systems Branch in Indian Air ForceThe Ministry of Defence (MOD) has approved the creation of a new branch, called the Weapon Systems (WS) Branch, in a historic move for the Indian Air Force (IAF), in honour of the 90th anniversary of the IAF on October 8, 2022.

• This is the first time since India’s independence that a new operational branch has been established.

During the occasion, a new combat uniform pattern for IAF personnel was also unveiled.
i.The establishment of a WS branch would imply the consolidation of all weapon system operators into a single entity committed to the operational use of all ground-based and specialized airborne weapon systems.
ii.The annual IAF Day parade and fly-past celebrations were hosted outside of the Delhi-National Capital Region (NCR) for the first time, and it has been decided that they will be conducted in other locations across India in the future.
About Indian Air Force (IAF):
Chief of the Air Staff – Air Chief Marshal VR Chaudhari
Established – 1932
>> Read Full News

Bureau of Indian Standards signs MoU with TIC Council

Bureau of Indian Standards (BIS), the National Standards Body of India under the Ministry of Consumer Affairs, Food & Public Distribution(MoCAFPD) signed a Memorandum of Understanding (MoU) with the Testing, Inspection, Certification (TIC) Council, India, a global trade association, to promote and harmonise the implementation of standards and quality, safety and sustainability practices in laboratories.

• The MoU was signed by Rajeev Sharma, Deputy Director of General Laboratories of BIS and Shashi Bhushan Jogani, Chairman of TIC.
• The MoU was signed in the presence of Pramod Kumar Tiwari, Director General of BIS and Hanane Taidi, Director General of TIC Council.

Key Points: 
i. The 2 organizations resolved to work further to improve the responsiveness of laboratories and exchange & disseminate the global best practices in the field of laboratories.
ii. On November 3rd, 2022, BIS and TIC Council are jointly organising a seminar on “Emerging Global Trends in Laboratories for AatmaNirbhar Bharat” in New Delhi, Delhi.
Note: TIC Council represents the independent (over 100 international) third-party TIC industry.
About the Testing, Inspection, Certification (TIC) Council, India:
Executive Director- Aparna Dhawan
Headquarters- Gurgaon, Haryana
Establishment- 2018

INTERNATIONAL AFFAIRS

Visit of EAM Dr. S. Jaishankar to New Zealand & Australia –October 05 – 11, 2022Dr. S. Jaishankar, External Affairs Minister (EAM) of India is visiting New Zealand and Australia from October 5 to 11, 2022.
Visit of EAM Dr. S. Jaishankar to New Zealand – October 05 – 09, 2022    
EAM Dr. S. Jaishankar met with Jacinda Ardern, the Prime Minister (PM) of New Zealand, and discussed ways to enhance bilateral cooperation.

• It was EAM Dr. S. Jaishankar’s first visit to New Zealand, and he was greeted with a traditional Maori welcome. He’s the first Indian Foreign Minister to visit since 2001.

On October 10, 2022, India’s EAM Dr. S. Jaishankar was given a “Tiranga welcome” upon his arrival in Canberra, the Australian capital. He will be visiting Canberra and Sydney in Australia.

• It is EAM Dr. S. Jaishankar’s second visit to Australia in 2022; his first visit was in February 2022 to Melbourne, Australia, to attend the Quad Foreign Ministers’ Meeting.

i.EAM Dr. S. Jaishankar hosted the 13th Foreign Ministers’ Framework Dialogue (FMFD) in Canberra, together with his Australian Counterpart Penny Wong.
About Australia:
Prime Minister – Anthony Albanese
Capital – Canberra
>> Read Full News

FAO report Estimates Increase in Wood Based Substitute to Non Renewables; expects 1 million new jobsAccording to the “Global forest sector outlook 2050: Assessing future demand and sources of timber for a sustainable economy – Background paper for The State of the World’s Forests 2022 (Provisional)” the global threats to climate, biodiversity and a healthy environment are mainly caused by the excessive use of non-renewable materials.

• The report stated that the demand for wood products such as mass timber and man-made cellulose fibre, a substitutes for non-renewable materials, may increase by up to 272 million cubic metres by 2050.
• The report highlighted that, in developing countries, this will lead to the creation of around 1 million jobs.

About Food and Agriculture Organization of the United Nations(FAO):
Director-General– Qu Dongyu
Headquarters– Rome, Italy
>> Read Full News

UNESCO launches the list of 50 iconic Indian Heritage TextilesThe United Nations Educational, Scientific and Cultural Organization (UNESCO) has launched, Handmade for the 21st Century: Safeguarding Traditional Indian Textiles, a list of 50 iconic heritage textile crafts of India.

• One of the major challenges to safeguarding invisible cultural heritage in South Asia is the lack of proper inventory and documentation, which aims to bridge this gap, bringing together years of research on the 50 selected textiles.
• This list the histories and legends behind the textiles. It describes the complicated and secret processes behind their making.

>>Read Full News

BANKING & FINANCE

BSE gets SEBI nod for Social Stock Exchange as Separate Segmeni.On October 7, 2022, the Securities and Exchange Board of India (SEBI) has granted its in-principle approval to BSE for introducing a social stock exchange (SSE) as a separate segment from existing stock exchanges.
ii.SSE will provide Social Enterprises (SEs) with an additional avenue to raise funds.
iii.It enables the listing of Non-Profit Organizations (NPOs) and for-profit SEs that are engaged in 16 social activities approved by the market regulator.
iv.To be eligible for SSE, NPO needs to be registered as a charitable trust and should be registered for at least 3years.
About Securities and Exchange Board of India (SEBI):
Chairperson– Madhabi Puri Buch
Headquarters– Mumbai, Maharashtra
Establishment– 1992
>> Read Full News

AWARDS & RECOGNITIONS        

South Indian Bank enters World Book of Records for ‘101 Oonjals’

South Indian Bank bagged a world record for organizing a first-of-its-kind category event ‘Onnichirikkam Oonjaladam’ (sit together and swing) by staging and swinging 101 ‘Oonjals’ (swings) simultaneously at Marine drive in Kochi, Kerala.

• The World Book of Records team presented the Award to Murali Ramakrishnan Managing Director (MD) and Chief Executive Officer (CEO) of South Indian Bank and other bank officials.
• The chief guests for the event included K Chandran Pillai, Chairman, Greater Cochin Development Authority and Shaji Daniel, CFO (Chief Financial Officer), Cochin International Airport Ltd.

SASTRA Ramanujan Prize for 2022 awarded to Yunqing Tang

The SASTRA Ramanujan Prize for 2022 will be awarded to Yunqing Tang of China, Assistant Professor at the University of California, Berkeley, United States of America(USA) for displaying a remarkable combination of sophisticated techniques in arithmetic and geometry of modular curves and Shimura varieties.

• The Prize will be conferred at the International Conference on Number Theory, which will be held from 20 to 22 December 2022 at Shanmugha Arts, Science, Technology & Research Academy (SASTRA) University, Thanjavur district, Tamil Nadu.

About SASTRA Ramanujan Prize:
i.The award, instituted by the Shanmugha Arts, Science, Technology & Research Academy (SASTRA) in 2005 with a cash prize of USD 10,000.
ii.It is presented annually to individuals aged 32 and below, who made outstanding contributions in the field of mathematics, influenced by Srinivasa Ramanjuan in a broad sense.
About Yunqing Tang:
i.She was born in China and completed her B. Sc at Peking University in 2011. She completed her PhD in 2016 at Harvard under the supervision of Mark Kisin.
ii.She jointly works with Frank Calegari and Vesselin Dimitrov on modular equations. This research is closely linked to Indian Mathematician Srinivasa Ramanujan’s work.
Note-
Srinivasa Ramanujan was an Indian mathematician who made major contributions to mathematics such as Ramanujan prime, the Ramanujan theta function, mock theta functions and partition formulae etc.         

ACQUISITIONS & MERGERS        

GoI, LIC to divest 60.72% along with Management Control in IDBI BankThe Government of India (GoI) and the Life Insurance Corporation (LIC) will divest a 60.72% stake in IDBI Bank Limited through sale of GoI’s and LIC’s equity stake along with transfer of management control in IDBI Bank.

• In this regard, the Department of Investment & Public Asset Management (DIPAM) under the Ministry of Finance has named KPMG India Private Limited as a transaction advisor and Link Legal as a Legal Advisor for the same.

GoI and LIC holding in IDBI Bank:
As on March 31, 2022, the government and the LIC jointly have around 94 per cent stake in IDBI Bank. LIC as a promoter of IDBI bank holds 49.24% (529.41 crore shares) while the GoI as co-promoter holds 45.48% (488.99 crore shares) in IDBI Bank.

• Now, as a part of strategic disinvestment of IDBI Bank, GoI will sell shares representing 30.48% while LIC will sell shares representing 30.24%, thus, totaling 60.72%.

Key Points:
i.This is expected to be the first privatization of a Public Sector Bank (PSB).
ii.The Central government has invited an Expression of Interest (EoIs) till December 16, 2022 for this divestment.

• EoI is the willingness of a potential buyer to participate in a bid to buy a certain stake in a company.
• It is valid for 6months and can be extended to a further six months.

iii.The selected bidder is required to hold and lock-in, either directly or through an Investment Vehicle at least 40% equity of IDBI Bank, at all times, for a period of 5 years from the date of acquisition of stake.
iv.The Central Government has set a divestment target of Rs 65,000 crore for FY23.
Click Here for Official Notification
About Department of Investment and Public Asset Management (DIPAM):
Secretary– Tuhin Kanta Pandey
Headquarters– New Delhi Delhi

SCIENCE & TECHNOLOGY

Russia Successfully Launches Navigation Satellite ‘GLONASS-K’The GLONASS-K1 No. 17 navigation satellite was successfully launched by Russia using a Soyuz-2.1b rocket from the State Testing Cosmodrome of the Russian Defence Ministry (the Plesetsk spaceport).

• The GLONASS-K1 No. 17 satellite was launched aboard the medium-class Soyuz-2.1b rocket at the Plesetsk Cosmodrome, roughly 800 kilometres (500 miles) north of Moscow, Russia.

Key Points:
i.The GLONASS-K1 No. 17 is a third-generation Russian Global Navigation Satellite System satellite (GLONASS).
ii.It was designed and developed by the Reshetnev Information Satellite Systems Company, a division of Roscosmos, the Russian State Space Corporation.

• It was developed to replace the GLONASS-M space vehicle family.

iii.It is part of the Russian GLONASS radio-based satellite navigation system and considered to be a possible competitor to the American GPS (Global Positioning System) (US).
About Russia:
President – Vladimir Putin
Capital – Moscow
Currency – Russian Ruble or Rouble (RUB)

SPORTS

Pankaj Advani wins gold medal in 2022 IBSF World Billiards Championship

India’s leading cueist, Pankaj Advani won the 2022 IBSF (International Billiards & Snooker Federation) World Billiards Championship in Kuala Lumpur, Malaysia.

• It was his 25th gold medal at the international level.
• He outclassed compatriot Sourav Kothari by 4-0 in the 150-up billiards final at the World Championships.
• In 2021, he won the IBSF 6-Red Snooker World Cup in Qatar.

Novak Djokovic clinches 90th title with Astana OpenNovak Djokovic (Serbia) clinched his 90th ATP (Association of Tennis Professionals) title, and 4th title of 2022 after winning the singles’ title of 3rd Astana Open 2022 by defeating Stefanos Tsitsipas (Greece) with 6-3, 6-4.

• Astana Open 2022 was held at Astana, Kazakhstan, and was part of the ATP Tour 500 Series of the 2022 ATP Tour.
• The 2022 Astana Open is played in Hard Court.

Key Points:
i.With this win he joined Rafael Nadal and Federer in the list of players in Open Era with 90 or more ATP titles.

• The legendary Jimmy Connors continues to dominate the list with his tally of 109 titles, followed by Roger Federer (103) and Ivan Lendl (94). Rafael Nadal stands fourth on the list with his 92 titles while Novak Djokovic is fifth.

ii.The doubles title was clinched by Croatia’s Nikola Mektic and Mate Pavic by defeating Adrian Mannarino and Fabrice Martin of France with 6–4, 6–2.

Max Verstappen won Japanese GP to become the 2022 Formula 1 World Champion

On 9th October 2022, Red Bull’s Max Verstappen, a Belgian-Dutch motorsports racing driver, won the Formula 1 Honda Japanese Grand Prix 2022 and his 2nd Formula 1 World Championship 2022 after winning a rain-shortened Japanese GP, held at the Suzuka International Racing Course in Suzuka (Suzuka Circuit), Japan.

• A total of 28 laps were completed out of the full race distance of 53 laps.

Key Highlights:
i. The Formula 1 Championship is organised by the Fédération Internationale de l’Automobile (FIA).

• The 1st highest pole position is held by Max Verstappen with 366 points followed by Red Bull’s Sergio Perez (Mexico) and Ferrari’s Charles Leclerc (Monaco).

ii. The 2022 Japanese Grand Prix is held across the weekend of 7 – 9 October.

Note: Ferrari’s Charles Leclerc came 2nd and was given a 5-second penalty for cutting the chicane on the final lap dropping him to 3rd behind Red Bull’s Sergio Perez.
Max Verstappen:
i. Overall, Max Verstappen has achieved 32 victories and 18 pole positions.
ii. He scored a grand slam at the 2021 Austrian Grand Prix and the 2022 Emilia Romagna Grand Prix.
iii. He won his 1st World Driver’s Championship in 2021.

Barbora Krejcikova bags 2022 Ostrava Open Title by defeating Iga Swiatek 

Barbora Krejcikova (26) from Czech Republic clinched a second successive WTA (Women’s Tennis Association) title by defeating Iga Swiatek (21) of Poland to win the Women’s singles tennis title of J&T Banka Ostrava Open 2022, held in Ostrava, Czech Republic, from 3rd to 9th October 2022.

• Earlier she won the 2022 Tallinn Open held in Tallinn, Estonia.
• The 2022 Ostrava open will also be called as AGEL Open 2022. The 2022 Agel Open is a WTA 500 tournament.
• The doubles title was clinched by Caty McNally and Alycia Parks of the United States (US) by defeating Alicja Rosolska of Poland, and Erin Routliffe of New zeland with 6–3, 6–2.

Key Points:
i.She become the first woman to beat Iga Swiatek in a tour-level final of 2022.
ii.Iga Swiatek is leading the WTA tour with 60 wins. She is the first player with 60 wins in a calendar year since Caroline Wozniacki finished 2017 with 60.
iii.It was a WTA tournament organised for female professional tennis players on indoor hard courts.

OBITUARY

Former UP CM and Samajwadi Party founder Mulayam Singh Yadav passes awaySamajwadi Party founder and former Uttar Pradesh (UP) Chief Minister (CM) Mulayam Singh Yadav passed away at the age of 82 years in Gurugram, Haryana.

• He served as the CM of UP for 3 non-consecutive terms (1989-91, 1993-95, and 2003-2007).
• He was often referred to as “Netaji’’ (meaning respected leader in Hindi) by party leaders and workers.

About Mulayam Singh Yadav:
i.Mulayam Singh Yadav was born on 22 November 1939 in Saifai village, Etawah district, UP. He was a politician and the founder-patron of the Samajwadi Party. He was the first President of the Samajwadi Party.
ii.He was the Member of Parliament (MP) for seven times, representing the constituency of Mainpuri (UP) in the Lok Sabha, and also earlier served as the MP from Azamgarh and Sambhal constituencies.
ii.He also served as the Union Minister of Defence from 1996 to 1998.

Padma Shri Awardee Dr Temsula Ao Passed AwayOn 9th October 2022, Dr Temsula Ao, a renowned Indian English poet from Nagaland and a Padma Shri Awardee (2007) passed away in Dimapur, Nagaland at the age of 77.
About Dr Temsula Ao:
i. Dr Temsula Ao was born on 25th October 1945 in Jorhat, Assam. She was a prominent poet, author, ethnographer, and professor. She played a pivotal role in popularising the Naga culture through her literary works.
ii. In 1975, she joined the North-Eastern Hill University (NEHU), Shillong as a lecturer in the Department of English and retired in 2010 as a professor.
iii. Between 1992 & 1997, she served as the Director of the North East Zone Cultural Centre, Dimapur on detachment from NEHU.
iv. She was also the Chairperson of the Nagaland Women Commission and fought for redefining Naga customary laws.
v. Her works have been translated into German, French, Assamese, Bengali, Kannada and Hindi.
Awards:
i. In 2007, Dr Temsula Ao received the Padma Shri Award for Literature and Education. She was a recipient of the Nagaland Governor’s Award for Distinction in Literature
ii. In 2009, she received the Governor’s Gold Medal from the Meghalaya Government.
iii. In 2013, she was awarded the Sahitya Akademi Award for her Short Story collection ‘Laburnum for My Head’.
iv. In 2015, she was the recipient of the Kusumagraj National Literature Award for poetry.

Villupaattu exponent Padma Shri Awardee Subbu Arumugam Passed Away

On 9th October 2022, Padma Shri Awardee Kavignar Subbu Arumugam, who popularised Villupaattu, the folk art of Tamil Nadu, passed away in Chennai, Tamil Nadu at the age of 95.

• Subbu Arumugam was born in 1928 in Chathiram Pudukulam village of the southern district of Tirunelveli, Tamil Nadu.
• He published about 15 books on ‘Villupattu’ narratives, songs, short stories and novels.
• In 2021, he was conferred with Padma Shri ‘India’s 4th-highest civilian award’.
• He was also honoured with Kalaimamani Award in 1975 and Bharathi Award in 2017 by the Tamil Nadu Government.

IMPORTANT DAYS

World Mental Health Day 2022 – October 10
The United Nations (UN)’s World Mental Health Day (WMHD) is annually observed across the globe on October 10 to raise awareness about mental health around the world and to mobilize efforts to support those experiencing mental health issues.

• The theme for World Mental Health Day 2022 is “Make Mental Health For All a Global Priority.”

Symbol of Mental Health Day: The green ribbon is the international symbol of mental health awareness.
i.The theme was announced by the World Federation for Mental Health (WFMH).
ii.Since 2013, an annual global campaign for WMHD has been organised by World Health Organization (WHO).
>> Read Full News

World Day Against the Death Penalty 2022 – October 10World Day Against the Death Penalty is annually observed across the globe on October 10 to raise awareness about the inhumane and cruel practice of capital punishment and the need to get rid of the death penalty from our justice systems.

• 10th October 2022 marks the observance of the 20th World Day Against the Death Penalty.

The Death Penalty: A Road Paved with Torture:
World Day against the Death Penalty 2022 is dedicated to reflecting on the relationship between the use of the death penalty and torture or other cruel punishment.
i. World Day Against the Death Penalty was initiated by the World Coalition Against the Death Penalty (WCADP) and supported by numerous Non-Government Organizations (NGOs) and World Governments (Amnesty International, the European Union, and the United Nations).
ii. On 26 September 2007, the Committee of Ministers of the Council of Europe officially recognized World Day as European Day against the Death Penalty which is held annually on October 10.
iii. The day is a European contribution to the World Day against the Death Penalty, which is held annually on the same day.
>> Read Full News

World Post Day 2022 – October 9 United Nations(UN) World Post Day is annually observed across the globe on 9th October to mark the establishment of the Universal Postal Union(UPU) in 1874 in Bern, Switzerland.
Purpose:
To create awareness about the importance of postal sector and its contribution to the social and economic development across the world.

• The theme of World Post Day 2022 is “Post for Planet”.

Background:
The resolution C11/1969, adopted during the 1969 Tokyo Congress recommended to observe 9th October of every year, the anniversary of the foundation of the UPU as UPU Day.
Later it was decided to change the title UPU Day to “World Post Day”.

India’s National Post Week 2022 – 9th to 13th October 2022

National Post Week is annually observed across India from 9th to 13th October to highlight the roles and activities of the India Post and the importance of postal services across India. India Post is the largest postal system in the world.

• The observance of National Post Week is led by the Department of Post.

>> Read Full News

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