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Overview of PM Narendra Modi visit to Gujarat and Madhya PradeshOn October 9-11, 2022, the Prime Minister (PM) of India Narendra Modi was on a 3-day visit to Gujarat to launch new projects and inaugurate a few completed projects. After that he visited Madhya Pradesh to dedicate Phase I of the Mahakaal Lok Project.
i.PM Narendra Modi visited the Modhera village of Mehsana district, Gujarat where he dedicated and laid the foundation stone of projects worth over Rs 3900 crore. He also declared the Modhera village as India’s first 24×7 solar-powered village.
ii.PM inaugurated the Phase 1 of Modi Shaikshanik Sankul, an educational complex for needy students, in Ahmedabad.
iii.In Jamnagar, he dedicated and laid the foundation stone of projects worth around Rs 1450 crore. These projects relate to irrigation, power, water supply and urban infrastructure.
iv.On October 11, 2022, the PM visited Madhya Pradesh (MP) where he inaugurated the Mahakal Lok corridor at Mahakaleshwar temple in Ujjain. The corridor is part of the first phase of Rs 850 crore Mahakaleshwar Temple Corridor Development Project. It is aimed at decongesting the entire area.
Chief Minister– Bhupendrabhai Patel
Governor– Acharya Devvrat
National Parks– Marine National Park, Vansda National Park
Wildlife Sanctuaries– Jessore Sloth Bear Sanctuary, Barda Wildlife Sanctuary
>> Read Full News
Nitin Gadkari Launches Toyota’s Pilot Project on FFV-SHEVOn 11th October 2022, the Union Minister of Road Transport and Highway Nitin Gadkari launched Toyota’s first-of-its-kind pilot project on Flex Fuel-Strong Hybrid Electric Vehicle (FFV-SHEV) that can run on 100% ethanol.
- During the launch, the Toyota Corolla Altis FFV-SHEV, imported from Toyota Brazil for the pilot project was also unveiled. It will be able to run on fuel that has ethanol blending between 20 and up to 100 per cent.
i.An FFV-SHEV has a flex-fuel engine and an electric powertrain, which provides the double benefit of higher ethanol use and greater fuel efficiency, as it can run for a significant time period on its EV mode, wherein the engine is shut off.
- Flex-fuel-compatible cars can run on more than one type of fuel and also a mixture.
ii.FFVs provide an opportunity of greater substitution of petrol by ethanol as it is capable of using any of the higher blends of ethanol mix from 20 per cent up to 100 per cent.
- Currently, Flex-fuel vehicles are available in Brazil, the USA and Canada.
iii.The project will encourage the use of electric vehicles and vehicles that run on biofuels like ethanol and methanol.
iv.Ethanol is a major alternate fuel used globally and Brazil has the highest average blending of 48 per cent. It will help in tackling air pollution and Greenhouse Gas (GHG) emissions.
- In March 2022, India’s first green hydrogen-based advanced fuel cell electric vehicle (FCEV), Toyota Mirai was launched.
- India achieved the goal of 10% ethanol blending in the shortest time and will achieve 20% by 2025.
The union ministers Mahendra Nath Pandey, Bhupinder Yadav and senior officials of Toyota Kirloskar Motor were also present at the event.
RCF & K Plus S signed MoU to improve the availability of MOP
On 6th October 2022, India’s Rashtriya Chemicals and Fertilizers Limited (RCF) signed a Memorandum of Understanding (MoU) with K Plus S Middle East FZE DMCC, a subsidiary of K+S Minerals and Agriculture GmbH, Germany, to improve the availability of Muriate of Potash (MOP) for the farming community and boost the indigenous production of various grades of complex fertilizers.
- Union Minister of Chemicals and Fertilizers, Dr Mansukh Mandaviya and Union Minister of State for Chemicals and Fertilizers, Bhagwanth Khuba were present during the occasion.
- Arun Singhal, Secretary (Fertilizers), S. C. Mudgerikar (CMD RCF) and other senior officials of the Department of Fertilizers were also present.
i. The partnership between RCF and K plus S provides secured availability of fertilizers and raw materials over a period of time
ii. According to MoU, K plus S will supply 1,05,000 million tonnes (MT) MOP per annum for the period from 2022 to 2025 at a discounted India-specific price.
iii. K plus S will supply MOP to RCF for its captive consumption as well as for its trading purposes with the requirement of 60% of the captive consumption of RCF.
About Rashtriya Chemicals and Fertilizers Limited (RCF):
RCF is an Indian central public sector undertaking under the ownership of the Ministry of Chemicals and Fertilizers, Government of India.
Chairman & Managing Director (MD)- S.C. Mudgerikar
Headquarters- Mumbai, Maharashtra.
About K Plus S Middle East FZE DMCC:
K Plus S Middle East FZE DMCC is formed as a marketing and sales service provider for K+S Minerals and Agriculture GmbH (headquartered in Kassel, Germany)
Managing Director- Hervé Cospain
Headquarters- Dubai, United Arab Emirates (UAE)
IRFC Signs MoU with IIFCL for Financing Railway Infrastructure ProjectsOn 11th October 2022 The Indian Railway Finance Corporation Limited (IRFC),a miniratna firm of Ministry of Railways signed a Memorandum of Understanding (MoU) with the India Infrastructure Finance Company Limited (IIFCL) under Ministry of Finance to strengthen cooperation in financing railway infrastructure projects with forward and backward linkages to the Indian Railways sector.
- The MoU was signed by Amitabh Banerjee, Chairman and Managing Director (CMD), IRFC and Padmanabhan Raja Jaishankar, Managing Director (MD), IIFCL in presence of senior officers of both the organisations.
About the MoU:
i.The MoU between IRFC and IIFCL will strengthen cooperation in co-financing of railway projects and also enhance customer experience and reduces logistics cost by facilitating state-of-the-art infrastructure.
ii.It allows both sides to benefit from each other’s expertise in infrastructure project finance, project due diligence, syndication, credit enhancement, and re-financing.
iii.The partnership between IRFC and IIFCL is a step towards India’s target of $5 trillion economy by 2025.
About India Infrastructure Finance Company Limited (IIFCL):
The Government of India held 86.36% stake in the India Infrastructure Finance Company Limited (IIFCL) as on 30 June 2021.
Managing Director (MD) – Padmanabhan Raja Jaishankar
Headquarters – New Delhi, Delhi
Establishment – 2006
‘Beti Bachao Beti Padhao’ scheme includes Skilling, Menstrual Hygiene AwarenessThe flagship scheme of the government ‘Beti Bachao Beti Padhao’ has been revised and included many initiatives like skilling girls in Non-Traditional Livelihood (NTL) options, increasing their enrolment in secondary education, raising awareness about menstrual hygiene, and promoting the elimination of child marriages.
- Women and Child Development (WCD) secretary Indevar Pandey assured the focus will also be made on removing the barriers that stop girls from pursuing diverse livelihood opportunities.
Note: The Ministry of Women and Child Development launched an operational manual to implement the scheme in districts.
i. On 22nd January 2015, prime Minister Narendra Modi launched the Beti Bachao Beti Padhao (BBBP) Scheme at Panipat, Haryana.
ii. It is a joint initiative of the Ministry of Women and Child Development (MoWCD), the Ministry of Health and Family Welfare (MoHFW) and the Ministry of Human Resource Development(MHRD) (MHRD is now the Ministry of Education(MoE)).
About Women and Child Development (WCD):
Cabinet Minister- Smriti Zubin Irani
Headquarters- New Delhi, Delhi
Establishment- Since 1985 WCD was a Department under the Ministry of Human Resources Development. In 2006, WCD came into existence as a separate Ministry.
>> Read Full News
Russian President Putin Recognizes Independence for 2 More Ukraine RegionsTwo Ukrainian regions Kherson and Zaporizhzhia located in southern Ukraine have been recognized as independent by an order from Russian President Vladimir Putin, paving the way for Russia to annex them.
- Similar actions were taken for Crimea earlier and for Luhansk & Donetsk in Ukraine in February 2022.
i.Together with Donetsk and Luhansk, Russia is preparing to formally annex the two regions.
ii.The four occupied regions of Ukraine will be annexed by Russia in a magnificent ceremony held in the Kremlin, Russia.
President – Vladimir Putin
Capital – Moscow
Currency – Russian Ruble (RUB)
CRI Index 2022: India Climbs Six Places for Reducing Inequality, Ranks 123 Globally According to the Commitment to Reducing Inequality Index 2022 (CRI Index) (4th Edition), India has climbed six places to rank 123 out of 161 countries for reducing inequality but continues to perform low in health spending.
- The CRI Index is a collaboration between Development Finance International (DFI) and Oxfam International.
- The CRI Index 2022 is topped by Norway, followed by Germany and Australia.
The CRI Index 2022, the 4th edition of the CRI Index, is the first comprehensive analysis made by reviewing policies and actions of 161 governments to combat inequality during 2020 and 2022, the first two years of the COVID-19 pandemic.
CRI Index 2022: Performance of India
i.According to the CRI index 2022, India’s overall ranking increased by six points from 129 in 2020 to 123 in 2022.
ii.India has moved 12 places (+12) to 129th in terms of reducing inequality through public spending.
iii.The progressive taxation ranking for India has increased by 3 places (+3) to 16.
About Oxfam International:
CEO of Oxfam India – Amitabh Behar
Formed in – 1995
>> Read Full News
India facilities of Cipla, Dr Reddy’s Labs, Mondelez join WEF’s Global Lighthouse Network
On 11th October 2022, the World Economic Forum (WEF) announced the addition of 11 factories and industrial sites, including three pharmaceutical companies from India including Cipla, Dr Reddy’s Laboratories & Mondelez were added to the list of Global Lighthouse Network
i.The Global Lighthouse Network is a community of over 100 manufacturers showing leadership in applying Fourth Industrial Revolution technologies such as artificial intelligence, 3D-printing and big data analytics.
ii.The 11 new lighthouses also include Agilent Technologies in Singapore, Danone in Opole (Poland), Flex in Sorocaba (Brazil) and five in China (CATL, Haier, Midea, Sany Heavy Industry and Western Digital).
Three Indian Pharmaceutical companies:
Cipla Limited-Cipla’s Indore (Madhya Pradesh) based facility deployed digital, automation and analytics solutions to 22 Indian sites to preserve access to high-quality affordable drugs globally.
Dr Reddy’sFoundation (DRF)– Dr Reddy’s Hyderabad (Telangana) facility deployed more than 40 Fourth Industrial Revolution use cases by operating in garage mode and leveraging IIoT (industrial internet of things) and democratized platform for advanced analytics.
Mondelez International-Mondelez’s Sri City (Andhra Pradesh) facility deployed end-to-end digitalisation, predictive analytics, artificial intelligence and advanced automations.
HUL’s Dapada factory first to join WEF’s sustainability lighthouse network
Hindustan Unilever’s (HUL) Dapada (Dadra and Nagar Haveli and Daman and Diu) factory is also recognised as a ‘Sustainability Lighthouse’ by the World Economic Forum (WEF).
- It was the first Unilever site and the first company in India, across sectors, to achieve this status.
About World Economic Forum (WEF):
Founder & Executive Chairman- Klaus Schwab
President- Børge Brende
Headquarters- Cologny/Geneva, Switzerland
BANKING & FINANCE
RBI raises Minimum Capital Requirement for setting up ARCs to Rs 300 cri.On October 11, 2022, the Reserve Bank of India (RBI) raised the minimum capital requirement for setting up an asset reconstruction company (ARC) to Rs 300 crore from the existing Rs 100 crore.
ii.The existing ARCs are need to meet minimum net owned fund (NOF) requirement of Rs 200 crore by March 31, 2024, and Rs 300 crore by March 31, 2026.
iii.This decision is aimed at strengthening the securitization sector which plays a vital role in the management of distressed financial assets.
iv.This increase in capital requirement is a part of the amendments in the extant regulatory framework for ARCs.
v.Under the provision of Section 10(2) of the SARFAESI Act, 2002 (Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act), RBI also permitted ARCs to undertake those activities as a Resolution Applicant (RA) under Insolvency and Bankruptcy Code, 2016 (IBC).
About Reserve Bank of India (RBI):
Governor– Shaktikanta Das
Deputy Governors– Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
Headquarters– Mumbai, Maharashtra
Establishment– 1st April 1935
>> Read Full News
NIPL collaborates with Worldline to facilitate UPI payments across EuropeIn an attempt to promote the acceptance of Indian payment methods across Europe, Worldline, a leader in global payments services in Europe, has partnered with NPCI International Payments Ltd. (NIPL), the international arm of the National Payments Corporation of India (NPCI), India.
- Digital payments in India are facilitated by NPCI.
With this partnership, Worldline will be the first European Union (EU) acquirer to provide European merchants with a Unified Payments Interface (UPI) and RuPay.
- UPI, an instant real-time payment system, and RuPay, a proprietary card payment network solution, are both offered by NPCI.
i.Under the partnership, Worldline’s QR, the company’s QR-based payments arm, will allow merchants’ point-of-sale (PoS) systems in Europe to accept payments from Indians via UPI and RuPay.
ii.With the help of Worldline QR, the first target markets for NIPL are likely to be Switzerland, Belgium, the Netherlands, and Luxembourg (BENELUX).
- The NIPL market will grow in the future as Worldline QR is adopted in more European countries.
iii.According to Schengen Visa( the most common visa for Europe), India is one of Europe’s most important tourist markets, with an estimated 10 million Indians visiting the region prior to the COVID-19 pandemic.
iv.Since UPI allows the accessibility of multiple bank accounts through a single mobile app, it improves the user experience and opens new business opportunities for merchants.
- UPI transactions reached 38.74 billion in 2021, with a total value of USD 954.58 billion.
- NPCI has issued 714 million indigenously-developed RuPay cards till date.
About NPCI International Payments Ltd. (NIPL):
Chief Executive Officer (CEO) – Ritesh Shukla
Founded – 2020
Headquarters – Mumbai, Maharashtra
RBL Bank & BookMyShow Partners to Launch ‘Play’ credit cardRBL Bank, formerly known as Ratnakar Bank, partnered with BookMyShow to launch a new credit card, ‘Play’, for India’s entertainment seeking audience.
- The card will be available to select customers on BookMyShow and provides offers for transactions in booking movie tickets and live entertainment offerings both online and offline.
About ‘Play’ credit card:
i.The Play credit card users can avail varied offers on brands including boAt, Myntra, WOW Momos, Archies, Cookie Man, Ixigo and Eat Sure listed in food and beverage(F&B) section of BookMyShow.
ii.It also provides access for binge-watching movies and TV series on BookMyShow Stream by renting or buying any title along with benefits that come with every purchase made.
iii.For the first time in India, customers could track the entire journey from application to delivery of the ‘Play’ credit card on BookMyShow platform along with real-time updates.
- BookMyShow customers can purchase the ‘Play’ credit card for an annual fee of Rs. 500 and entertainment loyalists on BookMyShow Superstars can purchase the card at zero cost.
iv.Customers are also offered with a joining benefit of credits in the form of BMS Cash worth Rs 200 if onboarded through video Know Your Customer (KYC).
Note – In 2016, RBL Bank had partnered with BookMyShow to launch a Fun Plus credit card.
About RBL Bank:
Managing Director (MD) and Chief Executive Officer (CEO) – R Subramaniakumar
Headquarters – Mumbai, Maharashtra
Tagline –Apno Ka Bank
Dvara E-Dairy Partners with Jana Small Finance Bank for Cattle Loan to Dairy Farmers
Dvara E-Dairy Solutions Private Limited in partnership with Jana Small Finance Bank launched ‘Dvara Surabhi Loan’, a cattle loan offered digitally to provide comprehensive financial and cattle management solutions to small and medium dairy farmers in Tamil Nadu and Karnataka.
About the loan:
i.The Dvara Surabhi Loan is provided for dairy farmers towards cattle purchase and maintenance that helps in mitigating the risk and identifying the ‘right borrower’ for the loan.
ii.The loan is provided depending on a combination of ‘Surabhi Score’, based on digital assessment of cattle management under various parameters and farmer’s credit score.
- The loan amount ranges from Rs. 30,000 to Rs. 1.5 Lakh with an average ticket size of Rs. 80,000.
About Dvara E-Dairy Solutions Private Limited:
Founder & CEO – Ravi K.A
Headquarters – Chennai, Tamil Nadu
Jana Small Finance Bank Ltd
Headquarters – Bengaluru,Karnataka
CEO – Ajay Kanwal
Established – 2018
ECONOMY & BUSINESS
IMF Lowers India’s GDP Forecast for FY23 to 6.8%The International Monetary Fund (IMF) in its October 2022 edition of ‘World Economic Outlook: Countering the Cost-of-Living Crisis’, lowered India’s Gross Domestic Product (GDP) growth projection in financial year 2022-23 (FY23) by 60 basis points (bps) to 6.8% from the earlier 7.4% projected in July 2022.
- The IMF has revised its growth forecast downward for the third time, citing the impact of a falling global economy, high inflation, rising interest rates, and the war in Ukraine.
- In FY24, India’s growth is anticipated to further decelerate to 6.1%.
It is forecasted that global growth will drop to 3.2% in 2022 and to 2.7% in 2023.
India’s Growth Projections
i.India’s growth forecast for FY23 was revised downward to 7.4% in July 2022, from an earlier estimate of 8.2% in April 2022.
ii.The projection is slightly lower than the 7% growth forecast for FY23 by the Reserve Bank of India (RBI), and it is consistent with other international organizations.
iii.The World Bank recently reduced India’s growth forecast for 2022–2023 to 6.5% from 7.5%, a decrease of 1% from its prior June 2022 forecast.
Agencies That Have Cut India’s FY23 GDP Forecast After Official April-June Data
|Bank/Institution||New Forecast||Earlier Forecast|
|State Bank of India||6.8 %||7.5 %|
|World Bank||6.5 %||7.5 %|
|Citigroup||6.7 %||8 %|
|IMF||6.8 %||7.4 %|
|Fitch||7 %||7.8 %|
|India Ratings||6.9 %||7 %|
|Asian Development Bank (ADB)||7 %||7.2 %|
|Reserve Bank of India (RBI)||7 %||7.2 %|
Growth Forecast for Advanced Economies
i.The IMF decreased its global growth forecast by 20 bps to 2.7% in 2023 from 3.2% in 2022, with a 25% possibility of falling below 2%.
ii.In 2022, Saudi Arabia is projected to grow at 7.6%, outpacing India and other large economies.
iii.China’s growth forecast for 2022 has been lowered by 0.1% to 3.2%.
iv.Growth in the United States is projected to decline from 5.7 % in 2021 to 1.6 % in 2022 and 1.0 % in 2023.
v.Global inflation is predicted to decline to 6.5% in 2023 and 4.1% in 2024, while it may increase from 4.7% in 2021 to 8.8% in 2022.
About International Monetary Fund (IMF):
Managing Director (MD) – Kristalina Georgieva
Establishment – 1944
Headquarters – Washington, D.C, USA
Google: Launches Play Points Rewards Programme in India; Introduces World’s First Laptops Built for Cloud GamingOn 11th October 2022 Google launched Google Play Points, a reward point system in India, which can be redeemed for making purchases at Google Play Store.
- The Google Play Points was first launched in 2018 and is currently available in 28 countries globally.
About the reward points:
i.This reward programme is fully funded by Google and is providing a limited time offer with 5 times the Play Points in the 1st week for users in India.
ii.The programme is divided into 4 categories including bronze, silver, gold and platinum, based on the points earned by users.
iii.These reward points earned by the users can be redeemed for special in-app items; discounted coupons provided by the developer; Google Play Credit for renting the latest movie; buying an audiobook or renewal of Google cloud subscription.
i.Google Play points allows users to earn points and rewards when they make purchases with Google Play, including in-app purchases, subscriptions and buying apps, games, movies, and ebooks.
- The Play Points will only be available on the use of Google Play billing and not on 3rd party billing.
ii.In India, Google has partnered with over 30 popular apps, Truecaller and Wysa and global and local game developers, including Miniclip (8 Ball Pool), TG INC (Evony: The King’s return), Gametion (Ludo King), Playsimple Games (Word Trip), Gameberry Labs (Ludo Star).
Google Introduces World’s First Laptops Built for Cloud Gaming
Google in partnership with Acer, ASUS and Lenovo introduced the world’s first Chromebooks that were built for cloud gaming.
- Under the partnership, three new Chromebooks including Acer Chromebook 516 GE, ASUS Chromebook Vibe CX55 Flip and Ideapad Gaming Chromebook from Lenovo.
i.These new Chromebooks are featured with gaming hardware having access to the latest games with cutting-edge graphics through the cloud, and software that are designed to make gaming faster and easier.
ii.These cloud gaming Chromebooks are independently tested and verified by GameBench, the leading game performance measurement platform.
JSW Steel joins United Nations Global Compact initiativeOn 11 October 2022, JSW Steel, the flagship company of JSW Group, joined the United Nations Global Compact (UNGC) network as a participant. UNGC is the world’s largest voluntary initiative of corporate sustainability.
- JSW Steel became the fifth Indian company in the “Industrial Mining and Manufacturing” sector to join the UNGC initiative. the other 4 are, ArcelorMittal India Limited, Jindal Stainless Limited, Hindustan Zinc Limited and Tata Steel.
i.The UNGC encourages companies to conduct business responsibly by aligning their operations and strategies with the UN’s 10 principles.
- UNGC consists of more than 20,000 companies in over 160 countries participating, and over 69 local networks.
ii.The initiative also commits companies to take actions to advance broader social benefits, in accordance with the UN Sustainable Development Goals (SDGs).
iii.JSW Steel has joined the global network which is committed to taking responsible business action to pave the way for a sustainable world.
- JSW Foundation, the social arm of the JSW Group, is already a member of UNGC and part of the India local network of UNGC.
About JSW Steel Ltd:
Chairman- Sajjan Jindal
TCS enhances Quartz™ Solution to Enable Banks to Support CBDC issuance
On 11th October 2022, Tata Consultancy Services (TCS) announced that it has enhanced its Quartz™ solution to enable central and commercial banks to support the lifecycle of Central Bank Digital Currency (CBDC) issuance, book-keeping and transactions.
- CBDC is a digital equivalent of government-issued bank notes. It can help a central bank move towards a globalized, secure, cost-effective, and traceable payments settlement system and promote financial inclusion and help to counter threats due to unregulated cryptocurrency markets.
- The award winning Quartz solution provides the capability to issue, trade and settle a variety of traditional and tokenized assets, and handle payment transactions.
- Quartz comprises Smart Solutions like, Quartz DevKit, Quartz Gateway & Command Center, Quartz Smart Solutions, and Quartz Ledgers.
- It connects the traditional and digital worlds by assisting companies in managing the issuance and transactions of various types of digital assets without the requirement for a centralized third party.
APPOINTMENTS & RESIGNATIONS
Chad’s prime minister, Albert Pahimi Padacke resignsThe Prime Minister (PM) of Chad, Albert Pahimi Padacke resigned from the post as the country decided to push back elections by 2 years (2024)
Albert Pahimi Padacke handed in his resignation at an audience with Mahamat Idriss Deby Itno, who on 10th October 2022 was sworn in as “transitional President” of Chad.
About Albert Pahimi Padacke:
i.Albert Pahimi Padacke was born on 15 November 1966 in Gouin, French Equatorial, Africa (Present day Chad). He is a politician who belonged to the National Rally for Democracy party.
ii.On 26 April 2021, he became PM of Chad. He also served as the PM from 2016 to 2018.
He was the last person to have occupied the post before the abolition of the institution in 2018.
Currency-Central African CFA franc
President- Mahamat Idriss Deby Itno
ACQUISITIONS & MERGERS
MCA approves demerger of NMDC Steel Ltd from NMDC Ltd
The Ministry of Corporate Affairs (MCA) has approved the demerger of NMDC Steel Limited, a 3-million tonne Greenfield steel plant at Nagarnar in Chhattisgarh, from NMDC Limited, (formerly National Mineral Development Corporation).
i. NMDC receives the MCA Order dated 6th October 2022 received on 11th October 2022 sanctioning the Scheme.
ii. The Company observes the requirements contained in the MCA order and the monitoring letters received from the Bombay, Calcutta, and National Stock Exchanges respectively.
iii. Currently, the company is in the process of demerging the steel plant it built in Chhattisgarh with an investment outlay of over Rs 20,000 crore.
About National Mineral Development Corporation Pvt Ltd (NMDC):
National Mineral Development Corporation (NMDC), a Navratna Public Sector Enterprise under the Ministry of Steel, Government of India.
Chairman & Managing Director (MD)- Sumit Deb
Establishment- Incorporated in 1958
Laver Cup 2022: Team World won their first Laver Cup title
Team World, captained by John McEnroe, American Tennis Player, won the Laver Cup 2022 title defeating Team Europe captained by Björn Borg, the Swedish tennis player. this marks the Team World’s first-ever Laver Cup title.
- Laver Cup 2022, the 5th edition of the Laver Cup, was held at the indoor hard court at the O2 Arena in London, England from 23rd September 2022 to 25th September 2022.
- The Laver Cup is a men’s tennis tournament played between teams from Europe named ‘Team Europe’ and the rest of the world, named ‘Team World’.
i.Team Europe – Björn Borg(Captain), Thomas Enqvist (Sweden)(Vice-captain), Novak Djokovic (Serbia), Casper Ruud (Norway), Rafael Nadal (Spain), Roger. Federer (Swiss), Andy Murray (Scotland), Stefanos Tsitsipas (Greece).
ii.Team World – John Mcenroe(Captain), Patrick Mcenroe (US) (Vice-captain), Felix Auger-Aliassime (Canada), Taylor Fritz (US), Diego Schwartzmann (Argentina), Jack Sock (US), Frances Tiafoe (US), Alex de Minaur (Australia).
i.Frances Tiafoe of Team World saved 4 match points against Team Europe’s Stefanos Tsitsipas which played a major role in the decisive win for Team World at the Laver Cup 2022.
Roger Federer played Final Match of His Career at Laver Cup 2022
41-year-old 20-time Grand Slam winner Roger Federer played his final Association of Tennis Professionals (ATP) event on 23rd September 2022 at Laver Cup 2022 in the doubles along with Rafael Nadal. Laver Cup 2022 marks the last contest of Roger Federer before his retirement from professional tennis
- Roger Federer and Rafael Nadal of Team Europe lost the match against Frances Tiafoe and Jack Sock of Team World.
- Earlier in September 2022, Roger Federer announced that he will retire from the ATP Tour and grand slams following the Laver Cup 2022.
World Arthritis Day 2022- October 12World Arthritis Day (WAD) is annually observed across the globe on October 12 to raise awareness about the existence and impact of rheumatic and musculoskeletal diseases, often referred to as Rheumatic and Musculoskeletal Diseases (RMDs).
The theme of World Arthritis Day 2022 is ‘It’s in your hands, Take Action‘.
i. World Arthritis Day was initially established by Arthritis and Rheumatism International (ARI) in 1996.
ii. The 1st ever World Arthritis Day was observed on 12th October 1996.
About the European Alliance of Associations for Rheumatology (EULAR):
EULAR is the European umbrella organisation representing scientific societies, health professional associations and organisations for people with RMDs.
President- Professor Annamaria Iagnocco (Italy)
Headquarters- Zürich, Switzerland
>> Read Full News
Andhra Pradesh CM YS Jagan Mohan Reddy launches portal for Marriage Schemes
Y.S. Jagan Mohan Reddy, the Chief Minister(CM) of Andhra Pradesh(AP) launched the websites on ‘YSR Kalyanamasthu’ and ‘YSR Shadi Thofa’ schemes which are aimed at providing financial assistance for daughter’s weddings in poor families.
The scheme came into effect on 1st October 2022.
i. The scheme would help to prevent child marriages and school dropouts as the eligibility for the scheme were 18 years for the bride and 21 years for the bridegroom.
ii. Previous similar schemes in 2018 kept arrears of Rs 68.68 crore pending to 17,709 beneficiaries.
iii. The assistance was given by the previous government and current government:
- For SCs and STs, the previous government gave Rs 40,000 and Rs 50,000 which is now increased to Rs 1 lakh.
- For Inter-caste marriages, it was increased from Rs 75,000 to Rs 1.2 lakh.
- For BCs, it was increased from Rs 30,000 to Rs 50,000.
- For Inter-caste marriages, it was increased from Rs 50,000 to Rs 75,000.
- For Minorities, the amount was doubled to Rs 1 lakh.
- For Differently-abled persons, it was increased from Rs 1 lakh to Rs 1.5 lakh.
- For the construction workers, the amount was increased from Rs 20,000 to Rs 40,000.
About Andhra Pradesh(AP):
Chief Minister- Y.S. Jagan Mohan Reddy
Governor- Biswa Bhusan Harichandan
Dance- Butta bommalu; Gargalu; Veera Natyam
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Current Affairs Today (AffairsCloud Today)
|S.no||Current Affairs 13 October 2022|
|1||Overview of PM Narendra Modi visit to Gujarat and Madhya Pradesh|
|2||Nitin Gadkari Launches Toyota’s Pilot Project on FFV-SHEV|
|3||RCF & K Plus S signed MoU to improve the availability of MOP|
|4||IRFC Signs MoU with IIFCL for Financing Railway Infrastructure Projects|
|5||‘Beti Bachao Beti Padhao’ scheme includes Skilling, Menstrual Hygiene Awareness|
|6||Russian President Putin Recognizes Independence for 2 More Ukraine Regions|
|7||CRI Index 2022: India Climbs Six Places for Reducing Inequality, Ranks 123 Globally|
|8||India facilities of Cipla, Dr Reddy’s Labs, Mondelez join WEF’s Global Lighthouse Network|
|9||RBI raises Minimum Capital Requirement for setting up ARCs to Rs 300 cr|
|10||NIPL collaborates with Worldline to facilitate UPI payments across Europe|
|11||RBL Bank & BookMyShow Partners to Launch ‘Play’ credit card|
|12||Dvara E-Dairy Partners with Jana Small Finance Bank for Cattle Loan to Dairy Farmers|
|13||IMF Lowers India’s GDP Forecast for FY23 to 6.8%|
|14||Google: Launches Play Points Rewards Programme in India; Introduces World’s First Laptops Built for Cloud Gaming|
|15||JSW Steel joins United Nations Global Compact initiative|
|16||TCS enhances Quartz™ Solution to Enable Banks to Support CBDC issuance|
|17||Chad’s prime minister, Albert Pahimi Padacke resigns|
|18||MCA approves demerger of NMDC Steel Ltd from NMDC Ltd|
|19||2022 Laver Cup: Team World won their first Laver Cup title|
|20||World Arthritis Day 2022- October 12|
|21||Andhra Pradesh CM YS Jagan Mohan Reddy launches portal for Marriage Schemes|