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NATIONAL AFFAIRS
Cabinet approvals on 24th October,2024
The Union Cabinet chaired by the Prime Minister (PM) Narendra Modi has given approvals to various schemes and projects on 24th October 2024.
The approvals are as follows,
- Establishment of Rs.1,000 crore Venture Capital Fund for Space Sector under aegis of IN-SPACe.
- Two Railway projects worth Rs 6,798 crore to be completed in 5 years.
- New Amaravati Railway line connectivity with an expenditure of 2,245 crore.
Union Minister Jyotiraditya M. Scindia Launched “International Incoming Spoofed Calls Prevention System”
On 22nd October 2024, Union Minister Jyotiraditya Madhavrao Scindia, Ministry of Communications (MoC) and Ministry of Development of North Eastern Region (MDoNER) launched “International Incoming Spoofed Calls Prevention System”at the Bharat Sanchar Nigam Limited (BSNL) Bhawan in New Delhi, Delhi.
- The system is designed with the objective to reduce the number of fraudulent calls that display a +91(India) prefix but originate from abroad.
- This marks another milestone of Department of Telecommunications (DoT)’s efforts towards building a safe digital space and protecting citizens from cyber-crime.
Key People: Union Minister of State (MoS) Dr. Chandra Sekhar Pemmasani, MoC; Dr. Neeraj Mittal, Secretary of Department of Telecommunications (DoT), and other senior officers were present at the event.
Key Features:
i.This system is developed by the DoT under MoC which has collaborated with Telecom Service Providers (TSPs) to identify and block such incoming international spoofed calls from reaching the Indian telecom subscribers.
ii.The integrated system went live on 17th October, 2024 and within 24 hours being in operations, it identified and blocked 1.35 crore or 90% of all the incoming international calls with Indian phone numbers as spoofed calls.
Background:
i.In July 2024, the Ministry of Finance (MoF) announced the allocation of Rs 38.76 crore to the DoT to establish the Central International Out Roamer (CIOR), the previous name of this integrated system.
ii.In addition to it, the budget allocation for the Digital Intelligence Unit (DIU), a project whose aim is to investigate the fraudulent use of telecom resources like spam calls and messages, has also been increased from Rs 50 crore in Revised Estimate (RE) for Financial Year 2023-24 (FY24) to Rs 85 crore in the budget estimate for FY25.
Threats related to spoofed calls:
i.Cybercriminals have been using spoofed international calls displaying Indian mobile numbers with prefix +91, by manipulating the Calling Line Identity (CLI), which is commonly known as phone number.
ii.These spoofed calls have been used by cyber criminals to commit various cybercrimes such as financial scams, impersonating government officials, among others. These calls have also been used to threaten the Indian telecom users about disconnecting of mobile numbers by DoT, fake digital arrests, drugs in couriers, among others.
Note:People can report suspected fraudulent communications via the Chakshu facility on Sanchar Saathi or through the official cybercrime helpline at 1930.
About Ministry of Communications (MoC):
Union Minister- Jyotiraditaya M. Scindia (Constituency- Guna, Madhya Pradesh, MP)
Minister of State (MoS) – Chandra Sekhar Pemmasani (Constituency- Guntur, Andhra Pradesh, AP)
INTERNATIONAL AFFAIRS
2024 Global MPI: 1.1 billion Poor Live in Conflict Areas
According to the Global Multidimensional Index Poverty Index (MPI) 2024: Poverty amid Conflict, 1.1 billion (18.3%) out of 6.1 billion people across 112 countries live in acute multidimensional poverty and staggering 455 million (40%) of the world’s poor live in countries experiencing war, fragility and/ or low peacefulness, which is hindering and even reversing hard-won progress to reduce poverty.
- As per the report, India with 234 million people has the largest number of people living in poverty, followed by Pakistan (93 million), Ethiopia (86 million), Nigeria (74 million) and the Democratic Republic of Congo (DRC) (66 million).
i.It was jointly released by the Human Development Report Office of the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative (OPHI) based at the University of Oxford on 17th October 2024, which is observed annually as the International Day for the Eradication of Poverty.
ii.According to the report, over half of the 1.1 billion poor people i.e. 584 million, are children under the age of 18. Globally, approximately 28% of children live in poverty, compared with 13.5% of adults.
About United Nations Development Programme (UNDP):
Administrator- Achim Steiner
Headquarters- New York, the United States of America (USA)
Established- 1945
>> Read Full News
Philippines and UNDRR hosted 2024 Asia-Pacific Ministerial Conference on Disaster Risk Reduction
The Government of the Philippines in partnership with the United Nations Office for Disaster Risk Reduction (UNDRR) hosted the 2024 Asia-Pacific Ministerial Conference on Risk Reduction (APMCDRR) held from 14th to 18th October, 2024 at the Philippine International Convention Center in Manila, the Philippines. The conference was officially inaugurated by Bongbong Marcos, President of the Republic of Philippines.
- Theme 2024 APMCDRR: “Surge to 2030: Enhancing ambition in Asia Pacific to accelerate disaster risk reduction”.
ii.The conference was organised around 3 thematic pillars and 4 cross-cutting themes.
iii.The Indian delegation was led by Union Minister of State (MoS), Nityanand Rai, Ministry of Home Affairs (MHA), who participated in APMCDRR 2024.
About United Nations Office for Disaster Risk Reduction (UNDRR):
It is a member of the United Nations (UN) Sustainable Development Group (UNSDG).
Special Representative of the Secretary General (SRSG) for DRR– Kamal Kishore
Headquarters- Geneva, Switzerland
Established- 1999
>> Read Full News
BANKING & FINANCE
ADB Approved Loan of USD 241.3 Million to Enhance Power Distribution in West Bengal
The Asian Development Bank (ADB) has approved a USD 241.3 million loan, aimed to enhance the power distribution in West Bengal (WB). This will also help enhance people’s quality of life by ensuring reliable, quality, and sustainable power supply.
- This programme of ADB is in alignment with the WB government’s Revamped Distribution Sector Scheme (RDSS), which aims to strengthen the operational efficiency of power distribution companies (DISCOMs).
About RDSS Program:
i.In 2022, the Government of India (GoI) and the Government of West Bengal had approved the RDSS which is a result-based lending (RBL) program, for West Bengal State Electricity Distribution Company Limited (WBSEDCL) with budget outlay of USD 197.39 million for an implementation between 2022 and 2026.
ii.After the successful completion of the RDSS program by 2026, key objectives of WBSEDCL are : to eliminate Average Cost of Supply- Average Realisable Revenue (ACS-ARR) gap (on subsidy receipt basis), reduce System Average Interruption Frequency Index (SAIFI) to 130.0 interruptions per customer and reduce Aggregate Technical & Commercial (AT&C) loss to 12.11%.
- These objectives will result in 4,700 Gigawatt-hour (Gwh) of annual electricity savings, and will also help to avoid 3.36 million tons of annual Green House Gas (GHG) emission.
Key Points:
i.According to the ADB, the West Bengal Distribution System Strengthening Program will improve electricity distribution for 8.96 million consumers in 7 districts of the WB.
ii.The program includes various initiatives such as: replacing low-tension overhead lines with aerial bundled cables, setting up separate electricity feeders for agricultural and non-agricultural users, and developing an integrated information and operation management system for power supply quality, performance monitoring, and corporate financial management.
iii.The program will enhance the operational efficiency of the WBSEDCL by building its capacity in asset and financial management, promoting the adoption of renewable energy (RE), rationalizing tariffs, and promoting gender equity and social inclusion.
About Asian Development Bank(ADB):
President– Masatsugu Asakawa(Japan)
Headquarters– Manila, The Philippines
Members Nations- 69
Established– 1966
About West Bengal:
Chief Minister (CM)- Mamata Banerjee
Governor- Dr. C.V. Ananda Bose
Capital- Kolkata
National Parks (NPs)- Gorumara NP, Neora Valley NP, Sunderban NP
RBI orders ban on sanction and disbursal of loans from four NBFCs
The Reserve Bank of India (RBI) has banned 4 Non-Banking Financial Companies (NBFCs) including 2 Microfinance Institutions (MFIs) from sanctioning and disbursing loans due to high interest rates charged to customers, effective from 21st October 2024.
- The directions given to the 4 entities are Asirvad Micro Finance Limited (NBFC-MFI), Arohan Financial Services Limited (NBFC-MFI), Directional Moving Index (DMI) Finance Private Limited (NBFC), and Navi Finserv Limited (NBFC).
i.The Reserve Bank of India (RBI) has taken strict action by using its authority under Section 45L(1)(b) of the Reserve Bank of India Act, 1934.
ii.This action is based on significant supervisory concerns regarding the pricing policy of these companies, specifically their Weighted Average Lending Rate (WALR) and the interest spread charged over their cost of funds, which are found to be excessively high and not in compliance with RBI regulations.
ECONOMY & BUSINESS
HDFC Securities enters Wealth Advisory Business with launch of HDFC Tru
HDFC Securities Limited, a subsidiary of HDFC Bank, has officially entered the wealth advisory sector with the launch of ‘HDFC Tru’. It will be headed by Pranab Uniyal, Head of Wealth Advisory, HDFC Securities.
- This new service is specifically designed for High-Net-worth Individuals (HNIs), Ultra-High-Net-Worth Individuals (UHNIs), family offices, and corporate clients, targeting those with revenues ranging from Rs 18 crore to Rs 400 crore.
i.The initiative aims to leverage HDFC Securities’ extensive experience and client base of 5.7 million across over 250 branches in India.
ii.HDFC Tru will be offering personalized financial advice without charging brokerage fees, instead implementing a transparent fee structure.
Space Kidz India launches global satellite mission ShakthiSAT to empower 12,000 girls in 108 Nations
Chennai(Tamil Nadu) based Indian Aerospace Startup Space Kidz India has launched the ‘ShakthiSAT mission’, aiming to empower 12,000 girls across 108 countries through space technology training to foster Science, Technology, Engineering, and Mathematics (STEM) education among girls.
- The initiative includes 120 hours of online training for high school students aged 14-18, focusing on space technology, payload development, and spacecraft systems.
i.Following the online training, selected 108 students, one from each country, will travel to India for hands-on experience in building payloads and spacecraft prototypes from June to August 2025.
ii.The satellite is planned for launch as part of ISRO’s Chandrayaan-4 mission in 2026.
iii.The project aims to inspire millions of young girls worldwide and is set to be officially unveiled by President of India Droupadi Murmu in November 2024.
AWARDS & RECOGNITIONS
Yang and Liu named ISSF Athlete of the Year 2024
Olympic pistol champion Yang Ji-in from South Korea and Olympic gold medalist in rifle Liu Yukun from China were named the International Shooting Sport Federation (ISSF) Athletes of the Year 2024 at the ISSF World Cup Final Opening Ceremony on 14th October 2024,held at Dr Karni Singh Range Tughlakabad in New Delhi, India.
- Yang Ji-in from South Korea has been named the female ISSF Athlete of the year 2024.
- Liu Yukun from China has been named the male ISSF Athlete of the year 2024.
About Yang Ji-in
i.Yang is a 21-year-old South Korean sport shooter who has won a gold medal in the women’s 25m pistol at the Paris 2024 Olympic Games,held at France.
ii. Moreover, she has also won gold medalsin 25 metrepistol at the 2024 Asian Rifle/Pistol Championships Jakarta and in 2024 ISSF World Cup Baku.
iii. She has made the final in four of the five World Cup events this season.
iv.She has also secured a bronze medalist in the 2022 Asian Games in Hangzhou,China.
About Liu Yukun
i.Liu Yukun is a Chinese sport shooter and Olympic champion.
ii.He made an Olympic record with a score of 594 in qualification and won a gold medal in the men’s 50m rifle 3 positions final at Paris Olympics 2024 with a score of 463.6
iii.He also won the ISSF World Cup in Baku in the men’s 50m rifle 3 positions.
About International Shooting Sport Federation
President– Luciano Rossi
Headquarters – Munich, Germany
Founded -1907
SCIENCE & TECHNOLOGY
GE Aerospace’s LM2500 to Power Indian Navy’s Next-Generation Missile Vessels
The United States of America(USA) based General Electric (GE) Aerospace’s LM2500, engineered for reliability and performance, has been selected to power the Indian Navy’s(IN) Next Generation Missile Vessels (NGMV), which are constructed by Cochin Shipyard Limited (CSL) in Kochi(Kerala).
i.It will provide six kits of the LM2500 marine gas turbine engines which will be assembled and tested by the Industrial and Marine Gas Turbine Division of Hindustan Aeronautics Limited (HAL) in Bangalore(Karnataka).
- Previously, HAL assembled and tested LM2500 turbines for the IN’s P17 and P17A frigates and the Vikrant aircraft carrier.
ii.This decision comes over a year after CSL signed a contract to build six NGMV for the Indian Navy at Rs. 9,805 crore.
iii.The delivery of the ships is set to begin in March 2027, as the IN aims to protect the country’s maritime interests in the contested Indo-Pacific region, particularly against aggressive Chinese vessels
Note: The NGMV is a new design for the IN that will reach a max speed of 35 knots and is equipped with a formidable selection of anti-surface weapons.
IMPORTANT DAYS
World Polio Day – October 24 2024
World Polio Day is annually observed across the world on 24th October to highlight the importance of the efforts to eradicate poliomyelitis (polio), the infectious disease that commonly affects children aged under 5.
- This day serves as a platform to raise awareness about the ongoing efforts to eradicate polio and the importance of vaccination in protecting children from this disease.
- The first World Polio Day was observed on 24th October 2002.
In 2023, as per analysis by UNICEF, total of 541 children globally were reported to be affected by polio, with 85% living in 21 countries that are either fragile or conflict-affected.
About World Health Organization (WHO):
Director-General– Tedros Adhanom Ghebreyesus
Headquarters– Geneva, Switzerland
Establishment– 1948
>> Read Full News
World Development Information Day 2024 – October 24
The United Nations(UN)’s World Development Information Day(WDID) is observed annually on October 24 to raise global awareness about development issues and promote international cooperation to address them. It coincides with United Nations (UN) Day.
- The main aim of this day is to propagate information and mobilise public opinion in order to draw their attention and create awareness of the problems surrounding development, promoting efforts in the field of international cooperation for growth and development.
Objectives:
i.This day highlight the complexities and challenges of development faced by various countries.
ii.It encourages international collaboration to find solutions to development problems.
iii.It engage citizens, particularly youth, to foster a better understanding of developmental challenges and their solutions.
iv.It emphasize the importance of science and technology in addressing global challenges and reducing the digital divide.
Background:
In 1972, the United Nations General Assembly (UNGA) adopted the resolution A/RES/3038(XXVII) and declared October 24 of every year as the World Development Information Day(WDID).
- The first WDID was observed on 24 October 1973.
Why October 24?
The date of the observance was chosen to coincide with the UN Day(24th October) and also to mark the date of adoption of the 1970 International Development Strategy for the Second United Nations Development Decade.
- The International Development Strategy for the 2nd UN Development Decade (1971-1980) was adopted on 24th October 1970.
3 Development Settings of UNDP:
i.The United Nations Development Programme (UNDP) operates within diverse country contexts, addressing 3 broad development challenges.
- Eradicating poverty in all its forms and dimensions;
- Accelerating structural transformations for sustainable development; and
- Building resilience to crises and shocks.
About United Nations (UN):
Director General(DG)– António Guterres
Headquarters– New York, the United States of America (USA)
Establishment– 1945
63rd Indo-Tibetan Border Police Raising Day – 24th October 2024
Indo-Tibetan Border Police (ITBP) Raising Day is annually celebrated on 24th October to mark the establishment of the ITBP, a Central Armed Police Force functioning under the Ministry of Home Affairs (MHA), in 1962.
- The day also acknowledges the ITBP’s dedication to securing India’s borders, fostering a sense of safety and reassurance among the communities residing in remote border regions.
- 24th October 2024 marks the observance of the 63rd ITBP Raising Day.
About Indo-Tibetan Border Police (ITBP):
Director General(DG)– Rahul Rasgotra
Headquarters– New Delhi, Delhi
Established– 1962
Motto– Shaurya-Dridhata-Karma Nishtha (Valour-Determination-Devotion to Duty)
>> Read Full News
Disarmament Week 2024- October 24 to 30
The United Nations (UN)’s Disarmament Week is annually observed across the globe in the week starting from 24 October, the anniversary of the founding of the UN, to promote awareness of disarmament initiatives that have been historically used by countries throughout the world to establish international peace and security.
- The UN Disarmament Week is observed from 24-30 October.
- The United Nations General Assembly (UNGA) adopted the resolution A/RES/S-10/2 (The Final Document of the 10th Special Session of the UNGA) in 1978 and proclaimed the week starting on 24th October, foundation day of the UN, as a week devoted to promote the objectives of disarmament.
About United Nations Office for Disarmament Affairs (UNODA):
Under-Secretary-General(USG) and High Representative(HR) for Disarmament Affairs– Izumi Nakamitsu(Japan)
Headquarters– New York, the United States of America (USA)
Established – 1998
>> Read Full News
World Day for Audiovisual Heritage 2024- October 27
The United Nations (UN)’s World Day for Audiovisual Heritage (WDAH) is annually observed across the globe on October 27 to celebrate the importance of preserving audiovisual (AV) heritage and safeguarding the world’s audiovisual records. It also recognizes the professionals and organizations dedicated to audiovisual preservation.
- The WDAH is an initiative for the United Nations Educational, Scientific and Cultural Organization (UNESCO) and the Coordinating Council of Audiovisual Archives Associations (CCAAA).
- The first-ever WDAH was observed on 27th October 2006.
About Coordinating Council of Audiovisual Archives Associations (CCAAA):
Chair– Karen Chan
Established – 1981
Members– 9
>> Read Full News
9th National Ayurveda Day 2024 – October 29
National Ayurveda Day is annually observed across India to create awareness about the role of Ayurveda in the prevention and treatment of a wide range of health issues.
- The day is observed on Dhanwantri Jayanthi or Dhanteras, the festival celebrating Dhanvantari, the Hindu god of Ayurveda. The festival usually falls on the 13th day of Krishna Paksha in the month of Ashwin of the Hindu calendar.
- The National Ayurveda Day 2024 falls on 29th October 2024. This marks the observance of the 9th National Ayurveda Day.
- The National Ayurveda Day 2024 theme is “Ayurveda Innovations for Global Health.”
- Narendra Modi, Prime Minister(PM) of India, inaugurated multiple projects worth over Rs 12,850 crore related to the health sector. This highlights the commitment of India towards promoting Ayurveda and accessible healthcare.
About the Ministry of AYUSH:
Minister of State (MoS) Independent Charge (IC)– Jadhav Prataprao Ganpatrao (constituency- Buldhana, Maharashtra)
>> Read Full News
Global Media and Information Literacy Week 2024 – October 24 – 31 
The United Nations (UN)’s Global Media and Information Literacy (MIL) Week is annually observed across the globe from 24th to 31st October to create awareness and celebrate the progress achieved towards Media and Information Literacy(MIL) for all.
- 2024 marks the observance of the 13th Global MIL Week.
- The annual observance of the week is led by the United Nations Educational, Scientific and Cultural Organization (UNESCO).
- The theme of Global Media and Information Literacy Week 2024 is “The new digital frontiers of information: Media and Information Literacy for public-interest information”.
About United Nations Educational, Scientific and Cultural Organization (UNESCO):
Director-General(DG)- Audrey Azoulay
Headquarters– Paris, France
Established– 1945.
>> Read Full News
78th Infantry Day- 27th October 2024
The Indian Army (IA)’s Infantry Day is annually observes across India on 27th October to commemorate the contributions of the Infantry in protecting India’s sovereignty and security.
- 27th October 2024 marks the observance of the 78th Infantry Day.
- The day commemorates landing of the 1st Battalion of the Sikh Regiment at Srinagar airfield in 1947 to protect Jammu and Kashmir(J&K) from Pakistani Kabaili Raiders and the Pakistan Army.
About Indian Army (IA):
Chief of the Army Staff (CoAS)– General Upendra Dwivedi
Headquarters– New Delhi, Delhi
Established in– 1895
Motto– Seva Paramo Dharma (Service Before Self)
>> Read Full News
International Animation Day 2024- October 28
International Animation Day (IAD) is annually observed across the globe on October 28 to commemorate the birth of animation, the first public performance of projected moving images at Emile Reynaud’s Theatre Optique in Paris (France) on the 28th of October 1892.
- 28th October 2024 marks the observance of the 23rd IAD.
- The day is annually coordinated and promoted by the Association Internationale du Film Animation (ASIFA).
- The first IAD was observed on 28 October 2002.
Association Internationale du Film Animation (ASIFA):
President- Deanna Morse
Founded- 1960
Headquarters– Annecy, France
>> Read Full News
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