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Current Affairs 29 September 2022

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C-DOT & IIT Delhi Sign MoU for Cooperation in Emerging Areas of Telecom C-DOT and IIT, Delhi sign an MoU for cooperation in various emerging areasThe Centre for Development of Telematics (C-DOT) and the Indian Institute of Technology-Delhi (IITD) have signed a Memorandum of Understanding (MoU) for collaboration in several areas of telecom, including Internet of Things (IoT)/ Machine-to-machine (M2M), Artificial Intelligence (AI) / Machine Learning (ML), Cyber Security, and 5G & Beyond technologies.

  • Aim: To create a framework that fosters a mutually productive framework between academic institutions and Research and Development (R&D) organizations in order to promote the development of wholly indigenous telecom solutions.
  • C-DOT is the Telecom Technology R&D centre of the Department of Telecommunications, Ministry of Communications.

Key Points:
i.The MoU will serve as an effective forum for the exchange of knowledge and skills among students, faculty, and researchers from the stage of ideation and conceptualization.

  • The fusion of cutting-edge research and academic excellence will increase the value of the nation’s Intellectual Property (IP) assets.

ii.The platform would serve as a catalyst for transforming unique ideas into market-ready solutions.
iii.C-DOT has been one of the primary participants in the development of indigenous 4G and 5G systems through collaboration with local industry, academia, and startups.
About Centre for Development of Telematics (C-DOT):
Executive Director –  Rajkumar Upadhyay
Establishment – 1984
Headquarters – New Delhi, Delhi

DEPwD, SCPwD & Amazon Internet signed tripartite MoU to provide skill training for PwDsDEPwD, SCPwD and Amazon Internet to sign a tripartite MoU

On 28 September 2022, Department of Empowerment of Persons with Disabilities (DEPwD), Sector Skill Council for Persons with Disabilities (SCPwD) and Amazon Internet Private Limited signed a tripartite Memorandum of Understanding (MoU) to provide skill training and employment opportunities for persons with disabilities at Dr. Ambedkar International Centre in New Delhi, Delhi.

  • The agreement was signed in the presence of the Union Minister of Social Justice & Empowerment, Virendra Kumar.

Key points:
i.The tripartite MoU also envisages mobilisation of Persons with Disabilities (PwDs) for skill training provided by the DEPwD, designing of job roles for e-commerce sector by SCPwD and providing skill training and hiring of PwDs.
ii.The agreement will also generate better employment opportunities for PwDs by imparting job specific, practical and e-commerce skills in the supply chain sector to boost economic growth in india.
DEPwD was represented by Kishor B. Surwade, Deputy Director General, SCPwD by Ravindra Singh, Chief Executive Officer (CEO), and Amazon Internet Private Limited by Shri Akhil Saxena, Vice President, Operations APAC  (Asia-Pacific)/MENA(Middle East & North Africa)/LATAM (Latin America).

MoL&E Releases Report on Fourth Round of Quarterly Employment Surveyreport on fourth round (january-march, 2022)Union Minister Bhupender Yadav, Ministry of Labour and Employment (MoL&E), has released the “Report on the Fourth Round of Quarterly Employment Survey,” which is a part of the All India Quarterly Establishment-based Employment Survey (AQEES) conducted by the Labour Bureau, MoL&E.

  • The Quarterly Employment Survey (QES) Report on the Fourth Round (January–March, 2022) provides a quarterly analysis of the employment scenario in India as on January 1, 2022.

The QES was launched in April 2021 as a component of the AQEES in order to collect vital information regarding employment and related variables in the organized sector of the economy.
Key Highlights of The 4th Quarterly Employment Survey Report:
i.During the 4th round of QES (January-March 2022), total employment created by 9 selected non-farm sectors was 3.18 crore in 5.31 lakh establishments.
ii.The total workers employed across the 9 sectors has grown from 3.14 crore in October-December 2021 (3rd quarter of 2021–22), 3.10 crore in July–September 2021 (2nd quarter of 2021-22), and 3.08 crore in April–June 2021 (1st quarter of 2021-22).
About Ministry of Labour and Employment (MoL&E):
Union Minister – Bhupender Yadav (Rajya Sabha – Rajasthan)
Minister of State (MoS) – Rameswar Teli
>> Read Full News

UP Govt. Approves First Tiger Reserve in Bundelkhand Region   UP govt approves first tiger reserve in Bundelkhand regionThe Uttar Pradesh (UP) cabinet, led by Chief Minister Yogi Adityanath, has approved the “first” Tiger Reserve in the ‘Bundelkhand region’ to promote tiger conservation in UP.

  • The cabinet approved the decision to designate Ranipur Tiger Reserve under section 38(v) of the Wildlife Protection Act 1972, which had previously been notified as Ranipur Wildlife Sanctuary in the Chitrakoot district of UP.

This will be UP’s fourth tiger reserve, following Dudhwa Tiger Reserve in Lakhimpur district, Pilibhit Tiger Reserve in Pilibhit district, and Amangarh Tiger Reserve in Bijnor district.
Ranipur Tiger Reserve
i.The Ranipur Tiger Reserve area, which is covered by Northern Tropical Dry Deciduous Forests, is home to a megafauna that includes tigers, leopards, bears, spotted deer, sambhar, chinkaras, as well as a variety of avifauna, reptiles, and other mammals.

  • It has a total area of 52989.863 hectares (ha) (about 530 sq km), including 29958.863 ha of buffer area and 23031.00 ha of core area.

ii.The establishment of the Ranipur Tiger Reserve in Bundelkhand will unleash the region’s potential for ecotourism, generate employment opportunities and enhance the regional economy.
Key Points:
i.The cabinet also resolved to establish the Ranipur Tiger Conservation Foundation and to approve the necessary positions.
ii.The National Tiger Conservation Authority (NTCA) has already given its approval to establish the Ranipur Tiger Reserve.
iii.The Ranipur Wildlife Sanctuary is located in Banda (UP), around 150 kilometres from the Panna Tiger Reserve in Madhya Pradesh.

Maharashtra cabinet approves naming of Chipi airport after Barrister Nath Pai

The Maharashtra Cabinet chaired by Chief Minister (CM) Eknath Shinde approved to name the Chipi Greenfield Airport in Sindhudurg district after a prominent socialist leader, freedom fighter and former Member of Parliament (MP) Barrister Nath Pai.

  • The Chipi Airport was formally inaugurated on March 5, 2019.
  • It is located in Vengurla, 27 km away from the Mumbai-Goa highway in the coastal Sindhudurg district of Maharashtra. Commercial flights started at the airport from October 9, 2021.
  • 25 September 2022 marks the birth centenary year of Nath Bapu Pai. He was born on 25 September 1922 in Vengurla, Maharashtra.
  • He represented the Rajapur Lok Sabha constituency from 1957 to 1967 as Praja Socialist Party leader. He was also a votary of Konkan Railway.


ICAO Signs MoU with International Solar Alliance

On September 26, 2022, A Memorandum of Understanding (MoU) was signed between the International Solar Alliance (ISA) headquartered at Haryana, India and the International Civil Aviation Organization (ICAO) during the 42nd Session of the ICAO Assembly in Montreal, Canada.

Objective of MoU :- to check the growth of CO2 emissions in the aviation sector and also to reduce carbon emissions.

  • The MoU was signed by Mr. Juan Carlos Salazar, Secretary-General of ICAO, and Mr. Joshua Wycliffe, Chief of Operations of ISA.
  • It was concluded in the presence of Mr. Jyotiraditya M. Scindia, Minister of Civil Aviation of India, H.E. Monsieur Clement Beaunne, Minister of Transport of France, and Mr. Salvatore Sciacchitano, President of the ICAO Council.

India’s Target:-

  • India sets Net Zero Carbon goal in 2070 in COP 26.
  • India also set a target of installing 175 GW of renewable energy of which 100 GW will be solar energy by 2022 and reduction in emission intensity by 33-35% by 2030.

Note – Cochin International Airport in India became the world’s first fully Solar powered airport in the world in 2015

International Solar Alliance (ISA)
i.The ISA is a collaborative platform for enhanced deployment of solar energy technology in its member countries as a means of boosting energy access, ensuring energy security, and driving energy transition.
ii.It was conceived by India’s Prime Minister Narendra Modi and former French President Francois Hollande on the occasion of the 21st Conference of Parties (COP 21) to the United Nations Framework Convention on Climate Change (UNFCCC) in Paris, France in 2015.
iii.Since then, it has been joined by 121 “sunshine countries” as signatory countries lying between the Tropics of Cancer and Capricorn, as well as 32 partner organizations, including various United Nations (UN) organizations.
Note: Dr. Ajay Mathur is the Director General of ISA.
About International Civil Aviation Organisation (ICAO):
Secretary General – Juan Carlos Salazar
Establishment – 1944
Headquarters – Montreal, Canada

INS Sunayna Participates in Combined Maritime Forces at SeychellesINS Sunayna participates in Combined Maritime Forces (CMF) Exercise at SeychellesThe Indian Naval Ship (INS) Sunayna participated in the capacity-building exercise Operation Southern Readiness conducted by Combined Maritime Forces (CMF) at Seychelles that happened between 24th September 2022 to 27th September 2022.

This event was coordinated as a part of the distinguished visitor’s demonstration and was witnessed by Wavel Ramkalawan, president of the Republic of Seychelles along with other senior officials of member countries of CMF.

  • The Indian Navy was welcomed to the CMF by Vice Admiral Brad Cooper, US NAVCENT.
  • This is the maiden participation of an INS Sunayna in CMF exercise.

About INS Sunayna:
i.INS Sunayna is a 2nd Saryu-class Naval Offshore Patrol Vessel (NOPV) that was commissioned by vice admiral Sathish Soni, flag officer commanding in chief for southern naval command at Kochi in October 2013.
ii.The ship was designed and developed indigenously by Goa Shipyard Limited to meet the increasing ocean surveillance and patrolling requirements of the Indian Navy.
iii.This will undertake operations such as coastal and offshore patrolling, ocean surveillance and monitoring of sea lines of communications and offshore assets along with escort duties.
i.INS Sunayna has an automatic power management system installed by Larsen & Turbo. The ship travels with a speed of more than 25 knots with its two KOEL/Pielstick diesel engines.
ii.The ship is enabled with the latest navigation, communication and electronic support systems.

  • It also carries one 76mm gun with an electro-optic fire system, close-in weapon systems (CIWS), and CHAFF launchers.

About Seychelles
President – Wavel Ramkalawan
Capital – Victoria
Currency – Seychellois Rupee


Yubi partners with SBI to enable Higher Credit Access to Priority SectorYubi partners with SBI to enable higher credit access to priority sectorFintech unicorn Yubi (formerly CredAvenue) has partnered with State Bank of India (SBI), to help in the growth of the bank’s co-lending portfolio.

  • As per the partnership, SBI will be integrated with Yubi Co.Lend, the co-lending platform of Yubi that provides an end-to-end solution and enables lenders to collaborate with multiple partners with a quick one-time Application Programming Interface (API) integration.

Key Points:
i.This partnership will facilitate seamless, faster, and higher credit to the priority sector and reduce the country-wide credit gap.
ii.It is also expected that this collaboration will unlock $1 trillion in capital for Priority Sector Lending (PSL) in tier 2,3,4 cities, small enterprises, and farmers.
iii.On Yubi Co.Lend, SBI can choose its co-lending partners including NBFCs (Non-Banking Financial Companies) , HFCs (Housing Finance Companies) or fintechs, and create its co-lending product programme, and digitally manage operations.
iv.Yubi will also build, manage and monitor SBI’s co-lending portfolio, and ensure all compliance to enhance the user experience.
In November 2020, the Reserve Bank of India (RBI) introduced a co-lending model, under which banks can provide loans in partnership with NBFCs, HFCs to priority sector borrowers based on a prior agreement. Its objective is to improve the flow of credit to the unserved and underserved sector of the economy and to make available funds at a cheaper rate.
What is Priority Sector Lending (PSL)?
PSL provides credit to those sectors which impact large sections of the population, the weaker sections and the sectors which are employment-intensive such as agriculture, and Micro and Small enterprises (MSEs). This role is exercised by RBI to banks.
About State Bank of India (SBI):
Chairman– Dinesh Kumar Khara
Headquarters– Mumbai, Maharashtra
TaglineThe banker to Every Indian

About Yubi:
Founder and CEO– Gaurav Kumar
Headquarters– Chennai, Tamil Nadu

ADB to fund USD 14 billion for Food Security in Asia-Pacific; Cuts Growth Forecast of Asia and Pacific to 4.3% from 5.2%ADB to devote USD 14 billion to help ease food crisis in Asia-Pacifici.On 27th September 2022, Asian Development Bank (ADB) announced its plan to fund at least USD 14 billion between 2022 and 2025 in a comprehensive program of support to ease the food crisis in the Asia-Pacific and to improve long-term food security through strengthening food systems against climate change and biodiversity loss during the 55th Annual Meeting of the ADB Board of Governors being held in Manila, the Philippines from 26th to 30th September 2022.
ii.The ADB in its ‘Asian Development Outlook (ADO) September 2022 Update: Entrepreneurship in the Digital Age’ has revised down growth forecasts for 2022 for Developing Asia and Pacific to 4.3% from 5.2% estimated in April 2022.
iii.ADO also lowered its growth forecast for India to 7% for FY23 from 7.2% estimated in July 2022 amid higher-than-expected inflation and monetary tightening.
About Asian Development Bank (ADB):
President– Masatsugu Asakawa
Headquarters– Mandaluyong City, Metro Manila, Philippines
Members– 68 members (49 from Asian and the Pacific and 19 outside)
>> Read Full News

Bank of Baroda Launches Festive Campaign ‘Khushiyon ka Tyohaar’
Bank of Baroda rolls out 'Khushiyon ka Tyohaar' as the Festive Season beginsBank of Baroda (BoB) has launched ‘Khushiyon ka Tyohaar’, an annual festive campaign that provides a range of offers including attractive interest rates on home loans and car loans, in addition to the discount on processing charges and other benefits.

  • In addition to these offers, Customers will also have an opportunity to earn higher interest with the Baroda Tiranga Deposit Scheme.

Key points:
i.BoB’s home loans are available at a competitive interest rate beginning at 7.95% per annum (p.a.) with no processing charges and the car loans are available at a special rate starting from 7.95% p.a. with a concession of 25 basis points.

  • In addition, the customers will also benefit with no prepayment or part payment charges, concessional processing charges, and longer repayment tenure of 7 years.
  • Both existing and new customers are eligible to apply for the loan and can be availed through the BoB World mobile app, net banking, and the BoB website.

ii.The bank has also launched a digital lending campaign with a range of digital loans such as pre-approved personal loans, personal loans, auto loans, home loans, education loans, mudra loans, Micro Small and Medium Enterprises (MSME) loans, gold loans, and the Baroda Kisan Credit Card (BKCC).
About Baroda Tiranga Deposit Scheme:
Baroda Tiranga Deposit Scheme is a special fixed scheme that offers higher interest rates and is available in 2 types of tenor that includes, interest rates of 5.75 % p.a. for 444 days and  6 % p.a. for 555 days.

  • This scheme will be available throughout the festive season , from 16th August 2022 to 31st December 2022.

The high rate of interest is applicable for domestic term deposits including Non Resident External (NRE) Account / Non Resident Ordinary (NRO) Account / Senior Citizen & and Non-Callable (Without Premature Facility) Deposits.

  • Senior citizens will earn an additional interest rate of 0.50 % p.a. and the non-callable deposits above Rs. 15 Lakh will earn an extra 15% p.a. 

UCO & Yes Bank Partners with Two Russian Banks for PaymentsUco, Yes Bank tie up with Russian banks for paymentsYes Bank and UCO Bank have partnered with two Russian banks for undertaking businesses with Russia. The UCO Bank has tied up with Gazprom Bank and the Yes Bank has signed an agreement with Petersburg Social Commercial Bank (PSCB) of Russia.
Key points:
i.This agreement took place after the Reserve Bank of India (RBI) allowed foreign payments through special vostro accounts.

  • Earlier the foreign payments were made in Euro or other foreign currency.

ii.Due to economic sanctions imposed on Russia for its friction with Ukraine, Indian exporters are gaining opportunity to undertake businesses with Russia.

  • The exports from Russia include pharmaceuticals, food articles, telecom equipment and textiles.

Note – During April – July 2022, exports to Russia have declined by around 30 percent to USD714 million.

Samsung India & Axis Bank Launches Co-branded Credit CardSamsung Axis Bank Visa credit card launchedSamsung India partnered with Axis Bank Limited  to launch a co-branded Samsung Axis Bank credit card, powered by a visa platform.

  • It offers 10 percent cashback on every purchase and service of all Samsung products round the year in addition to the existing offers on both Equated Monthly Income (EMI) and non-EMI transactions. No minimum transaction value.

i.The 10 percent cashback is applicable across offline channels selling Samsung products through Pine Labs and Benow payment interfaces and online channels through, Samsung Shop App and Flipkart.

  • The key merchants include bigbasket, Myntra, Tata 1mg, Urban Company and Zomato.

ii.The credit cards can be used for payments at Samsung service centres, extended warranties and Samsung Care+ mobile protection plan.
iii.The Edge Reward points are offered on completing the first 3 transactions on the card.
About credit card:
i.The card is available in two variants: Samsung Axis Bank Signature Credit Card and Samsung Axis Bank Infinite Credit Card.

  • The Signature variant cardholders can avail up to Rs. 10,000 cash back annually, with a monthly cash back limit of Rs. 2,500.
  • The Infinite variant cardholders can avail up to Rs. 20,000 cash back annually, with a monthly cash back limit of Rs. 5,000.

ii.The Signature variant cardholders will get 2,500 points worth Rs. 500, while Infinite variant cardholders will get 30,000 points worth Rs. 6,000 as a one-time welcome benefit.
iii.Additionally, cardholders will earn Edge Reward Points on spends made outside the Samsung Ecosystem.
iv.This Samsung Axis Bank Credit Card also comes with complimentary airport lounge access, fuel surcharge waiver, dining offers, and access to a bouquet of offers from Axis Bank and Visa.
About Axis Bank Limited:
MD and CEO – Amitabh Chaudhry
Headquarters – Mumbai, Maharashtra

Mastercard to launch ‘Carbon Calculator’ for Indian consumers

Mastercard will launch its Carbon Calculator feature for Indian customers, which will offer consumers an estimated carbon footprint every time they purchase something.

  • Mastercard Carbon Calculator, launched in 2021, was developed in collaboration with Swedish fintech Doconomy. It is currently used in over 25 countries.
  • Banking partners can embed the tracking tool in their website or mobile apps.
  • Carbon Calculator tracker can derive the cumulative effect of carbon footprint across a variety of spending categories in a month.
  • The feature also provides access to insights and data about environmental impact.

Muthoot Finance ties up with Lulu International Exchange for gold loan repayment

Muthoot Finance Limited signed a Memorandum of Understanding (MoU) with Lulu International Exchange, United Arab Emirates (UAE) based company, to work as its collection partner. Through this MoU, Muthoot Finance aims to ease money transfers for over 4 lakh Non-resident Indians(NRIs) in UAE whose relatives have availed gold loans in India.

  • It will provide benefit to customers and their relatives who have availed gold loans by providing them with a way to pay their gold loan installments at special rates. It offers fast and reliable money transfer and foreign exchange service powered by a robust network, reputed partners, and high standards of customer care.
  • NRIs can avail the service at any of the 89 branches of Lulu Exchange spread across the UAE. The loan installments will be settled on a real time basis with a nominal fee charged for the remit service.
  • India is the world’s largest recipient of remittances, with the share of remittances from GCC (Gulf Cooperation Council) countries to Kerala, Tamil Nadu, and Karnataka being the highest.


Amazon India launches ‘AmazeWIT Circles’ to upskill women in technology

Amazon India launched ‘AmazeWIT Circles’,  which is a unique networking and virtual event to educate women and prepare them for careers in technology.

  • AmazeWIT Circles helps women to enhance their skills and provides leadership sessions focusing on topics ranging from data structures, coding, algorithms etc.
  • It is designed for software development engineers, which covers topics relevant to technical upliftment and sustained career development.


Kumar Sanu, Shailendra Singh & Anand-Milind to get Lata Mangeshkar AwardKumar Sanu, Shailendra Singh, Anand-Milind to get Lata Mangeshkar AwardOn 28th September 2022, renowned playback singers Kumar Sanu & Shailendra Singh and the duo of Indian film music composers Anand & Milind Shrivastav have been conferred with the National Lata Mangeshkar Award for different years.
The prestigious award is given on the birth anniversary of the late legendary singer, Lata Mangeshkar at her birthplace Indore, Madhya Pradesh.

  • Shailendra Singh is honoured with the Lata Mangeshkar Award for 2019, for his distinct voice from 1970-1980.
  • Anand-Milind is honoured with the Lata Mangeshkar Award for 2020, for composing music for over 200 films.
  • Kumar Sanu is honoured with the Lata Mangeshkar Award for 2021, for his velvet voice to numerous popular songs in the 1990s.

Note: The last Lata Mangeshkar Award function was held on February 7, 2020.
Lata Mangeshkar Award:
i. It is a National-level award instituted to honour works in the field of music.
ii. The State Government of Madhya Pradesh started this award in 1984, which consists of a certificate of merit and a cash prize.
iii. The Lata Mangeshkar Award is given annually by the Madhya Pradesh government’s culture department for prompting excellence in the area of light music.
iv. Each carries a cash prize of Rs 2 Lakh and a citation.
v. Earlier recipients who have been honoured with the Lata Mangeshkar Award are Naushad, Kishore Kumar and Asha Bhosle.
 About Lata Mangeshkar:
i. Lata Mangeshkar is the most versatile singer in the Indian film industry. She was born on 28th September 1929 and died on 6th February 2022.
ii.Notable Awards & Recognition:-  She was the recipient of three National Film Awards.

  • she was one of the first Indian playback singers to perform at the Royal Albert Hall in London, UK.
  • She received Padma Bhushan in 1969, Dadasaheb Phalke Award in 1989, Padma Vibhushan in 1999 and Bharat Ratna in 2001.


Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud named as Prime MinisterSaudi Arabia's Crown Prince Mohammed bin Salman appointed as prime ministerOn 27th September 2022, Mohammed bin Salman Al Saud
, a powerful Crown Prince of Saudi Arabia and son of King Salman bin Abdulaziz has been named Prime Minister  (PM) of Saudi Arabia by royal decree.
The former Prime Minister King Salman bin Abdulaziz will continue to chair the Cabinet meetings that he attends.
Other Royal Decrees:
i. King Salman bin Abdulaziz promoted his 2nd son Prince Khalid bin Salman from Deputy Defence Minister to Defence Minister.
ii. Prince Abdulaziz bin Salman remained Saudi Arabia’s energy minister
iii. Prince Faisal bin Farhan Al Saud, Foreign Minister; Mohammed al-Jadaan, Finance Minister; and Khalid al-Falih, Investment Minister remained unchanged.
About Mohammed bin Salman Al Saud:
i. Mohammed bin Salman Al Saud, the 37-year-old Crown Prince, known as MbS, a member of the Saudi royal family who served as Minister of Defence (2015-2022). He is already seen as the de facto ruler of Saudi Arabia (an oil-rich Gulf state).
ii. He is the leading figure in the kingdom’s “Vision 2030” plans to transform the country’s economy and energy infrastructure.
iii. In 2009 he became a formal adviser to his father, who was then Governor of Riyadh, Saudi Arabia.
iv. In 2017, when Mohammed bin Salman Al Saud rose to power, he changed Saudi Arabia radically as he led efforts to diversify the economy from dependence on oil, allowing women to drive and hold back the clerics’ power over society.
About Saudi Arabia:
King- Salman bin Abdulaziz Al Saud
Capital- Riyadh     
Currency – Saudi Riyal 


Axis Bank to acquire 9.94% stake in Fairfax-backed Go Digit Life InsuranceAxis Bank to pick nearly 10% stake in Fairfax-backed Go Digit Life InsuranceAxis Bank Limited, India’s 3rd largest private sector lender signed a non-binding term sheet to invest Rs 49.9 crore – Rs 69.9 crore for a 9.94% stake in Initial Public Offering (IPO) bound Go Digit Life Insurance, a firm backed by Canada-based Fairfax Group.

  • The proposed investment of up to Rs 70 crore will be made in two tranches.

Note: Axis Bank along with its two subsidiaries Axis Capital and Axis Securities own a 12.99 per cent stake in Max Life Insurance

Key Points:
i. Axis Bank’s deal with Go Digit Life Insurance is subject to the execution of definitive agreements whose terms and conditions are to be mutually agreed upon alongside fulfilment of other conditions.
ii. Axis Bank proposed to carry out life insurance business in India, subject to the grant of a certificate of registration by the Insurance Regulatory and Development Authority of India
Note: The Securities and Exchange Board of India (SEBI) puts Fairfax Group-backed Go Digit’s IPO in ‘Abeyance’ the proposed IPO of insurtech platform GoDigit, which operates the Digit Insurance brand.
About Axis Bank Limited: 
Chief Executive Officer (CEO)- Amitabh Chaudhry
Headquarters- Mumbai, Maharashtra
Establishment- 1993

Bank of India acquires over 5.5% stake in ONDCBank of India acquires over 5.5 per cent stake in ONDCOn September 27, 2022, the Bank of India (BoI) acquired over 5.56%  stakes in Open Network for Digital Commerce (ONDC) for Rs 10 crore under the private placement route.
i.In absolute terms, BoI  acquired 10,00,000 equity shares for Rs 100 each in ONDC. The transaction is expected to be completed by the second quarter of FY23.

  • The framework will make e-commerce more inclusive and accessible to consumers and sellers.

ii.ONDC is a private non-profit Section 8 company established by the Department for Promotion of Industry and Internal Trade (DPIIT).
iii.It  aims to promote open networks for all aspects of the exchange of goods and services over digital or electronic networks in the country.
iv.Several other banks including State Bank of India (SBI), Bank of Baroda (BoB), Punjab National Bank (PNB), Kotak Mahindra Bank(KMB), Axis Bank, HDFC Bank, IDFC First Bank, and ICICI Bank have picked up 6.35%  stake each in the ONDC.

  • UCO Bank has a 3.17% holding, while SIDBI and NABARD have 6.35% each.

About Bank of India (BoI):
Headquarters- Mumbai, Maharashtra
Founded- 1906
MD & CEO-Atanu Kumar Das     


MoS Faggan Singh Kulaste launches JALDOOT App for Monitoring of Ground Water Tables across IndiaJALDOOT App launchedi.On September 27, 2022, the Union Minister of State (MoS) Faggan Singh Kulaste, Ministry of Rural Development (MoRD) launched the ‘JALDOOT App and JALDOOT App e-brochure’ during a function in New Delhi, Delhi.
ii.This app will be used across India for the monitoring of ground water tables by capturing the water level of selected 2-3 wells in a village.
iii.It is developed by MoRD and Ministry of Panchayati Raj (MoPR).
About Ministry of Rural Development (MoRD):
Union Minister– Giriraj Singh (Constituency- Begusarai, Bihar)
Ministers of State (MoS)– Sadhvi Niranjan Jyoti (Constituency- Fatehpur, Uttar Pradesh); Faggan Singh Kulaste (Constituency- Mandla, Madhya Pradesh)
>> Read Full News

DRDO successfully tested Very Short Range Air Defence System Missile at  ChandipurDRDO tests of Very Short Range Air Defence System missiles successfulOn September 27, 2022, the Defence Research and Development Organisation (DRDO) has successfully conducted the flight tests of two Very Short Range Air Defence System (VSHORADS) missile from a ground based portable launcher at the Integrated Test Range (ITR), Chandipur, off the coast of Odisha.

  • This Man Portable Air Defence System (MANPAD) will be used for neutralising low altitude aerial threats at short ranges.

It is designed and developed indigenously by Hyderabad (Telangana)-based Research Centre Imarat (RCI) of the DRDO in collaboration with other DRDO laboratories and Indian Industry Partners.
Key Points:
i.VSHORADS comprises many technologies including miniaturized Reaction Control System (RCS) and integrated avionics. It is propelled by a dual thrust solid motor
ii.The missile’s design, including the launcher, has been highly optimized for portability.
iii.It will succeed the Indian Army’s current stock, such as the Air Defence Guns L-70 and ZU-23 which is over four decades old and completely obsolete.
iv.Very Short Range Air Defence Missiles are critical for defending any major city or strategically important location.

Highlights: NavIC, India’s home-grown alternative to the GPS system

Navigation with Indian Constellation (NavIC) is an indigenous independent stand-alone navigation satellite system developed by the Indian Space Research Organisation (ISRO) and controlled by India.

  • The Indian government nudges the smartphone makers to enable the NavIC navigation system in new devices that are to be sold in India from 2023.

i.NavIC was originally approved in 2006 at a cost of USD 174 million and became operational in 2018.
ii.NavIC consists of 8 satellites and covers the whole of India’s landmass and also up to 1,500 km (930 miles) from its boundaries.
iii.Currently, NavIC’s use in India is limited to public vehicle tracking, for providing emergency warning alerts to deep sea fishermen with no terrestrial network connectivity, and for tracking information related to natural disasters.
About NavIC:
i.NavIC is currently for use in India and its boundaries while other satellites such as GPS from the United States (US), Galileo from the European Union, GLONASS from Russia, QZSS, operated by Japan and Beidou from China caters to users across the globe for regional navigation.
ii.India’s 2021 satellite navigation draft policy stated the government will work towards expanding the coverage from regional to global to ensure availability of NavIC signals in any part of the world.
iii.The Indian government also enables various ministries to use NavIC applications to promote local industry that are engaged in developing indigenous NavIC-based solutions.


World Rabies Day 2022 – September 28World Rabies Day - September 28 2022World Rabies Day 2022 is annually observed across the globe on 28th of September to celebrate rabies prevention efforts and unite against rabies.
The day also marks the death anniversary of the famous French chemist and microbiologist, Louis Pasteur, who developed the first anti-rabies vaccine. Louis Pasteur died on 28th September 1895.

  • 28th September 2022 marks the 16th observance of World Rabies Day.

The theme of World Rabies Day 2022 is “Rabies: One Health, Zero Death”, which highlights the relation between the environment with both people and animals.
i.In 2007, World Rabies Day was established by Global Alliance for Rabies Control (GARC), a non-profit organization, that aims to eliminate death from rabies by 2030, and recognised by the World Health Organization (WHO).

  • It is an event designed to be inclusive, uniting people, organizations, and stakeholders across all sectors against rabies

ii.The first World Rabies Day was observed on 28 September 2007.
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International Day for Universal Access to Information 2022 – September 28International Day for Universal Access to Information - September 28 2022The United Nations (UN)’s International Day for Universal Access to Information (IDUAI) is annually observed across the globe on 28 September to raise awareness regarding the need to expand laws related to information.

  • International Day for Universal Access to Information 2022 is observed on 28 September 2022.
  • 28 September 2022 marks the 3rd celebration of International Day for Universal Access to Information 2022.

Global Conference on Universal Access to Information 2022

Global Conference on Universal Access to Information 2022 organised in Tashkent, Uzbekistan on 28th & 29th September 2022 launched the 2022 edition of the International Day for Universal Access to Information.

  • The theme of the Global Conference on Universal Access to Information 2022 is “Artificial Intelligence, e-Governance and Access to Information“.

i. On 15th October 2019,  the 74th UN General Assembly (UNGA) adopted the resolution A/RES/74/5 and declared 28 September as the International Day for Universal Access to Information.
ii. The 1st UN International Day for Universal Access to Information was observed on 28 September 2020.
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Current Affairs Today (AffairsCloud Today)

S.noCurrent Affairs 29 September 2022
1C-DOT & IIT Delhi Sign MoU for Cooperation in Emerging Areas of Telecom
2DEPwD, SCPwD & Amazon Internet signed tripartite MoU to provide skill training for PwDs
3MoL&E Releases Report on Fourth Round of Quarterly Employment Survey
4UP Govt. Approves First Tiger Reserve in Bundelkhand Region
5Maharashtra cabinet approves naming of Chipi airport after Barrister Nath Pai
6ICAO Signs MoU with International Solar Alliance
7INS Sunayna Participates in Combined Maritime Forces at Seychelles
8Yubi partners with SBI to enable Higher Credit Access to Priority Sector
9ADB to fund USD 14 billion for Food Security in Asia-Pacific; Cuts Growth Forecast of Asia and Pacific to 4.3% from 5.2%
10Bank of Baroda Launches Festive Campaign ‘Khushiyon ka Tyohaar’
11UCO & Yes Bank Partners with Two Russian Banks for Payments
12Samsung India & Axis Bank Launches Co-branded Credit Card
13Mastercard to launch ‘Carbon Calculator’ for Indian consumers
14Muthoot Finance ties up with Lulu International Exchange for gold loan repayment
15Amazon India launches ‘AmazeWIT Circles’ to upskill women in technology
16Kumar Sanu, Shailendra Singh & Anand-Milind to get Lata Mangeshkar Award
17Crown Prince of Saudi Arabia Mohammed bin Salman Al Saud named as Prime Minister
18Axis Bank to acquire 9.94% stake in Fairfax-backed Go Digit Life Insurance
19Bank of India acquires over 5.5% stake in ONDC
20MoS Faggan Singh Kulaste launches JALDOOT App for Monitoring of Ground Water Tables across India
21DRDO successfully tested Very Short Range Air Defence System Missile at ITR, Chandipur
22Highlights: NavIC, India’s home-grown alternative to the GPS system
23World Rabies Day 2022 – September 28
24International Day for Universal Access to Information 2022 – September 28