Daily Current Affairs and GK | 11 October 2023

Topic: International News

1. Defence cooperation agreement has been signed between India and Italy.

• The bilateral talks between Defence Minister Rajnath Singh and his Italian counterpart Guido Crosetto were held in Rome.
• India and Italy signed a defence cooperation agreement to promote cooperation in varied defence domains including security and defence policy, R&D, education in the military field, maritime domain awareness, sharing of defence information and industrial cooperation.
• Defence Minister Rajnath Singh is on a visit to Italy and France from October 9 to 12.
• Both sides discussed defence cooperation issues, including training, sharing of information, maritime exercises and maritime security.
• India and Italy's relationship was elevated to Strategic Partnership in March 2023.
• Rajnath Singh will take part in the 5th annual defence dialogue with his French counterpart Sebastian Lecornu.
• He is also scheduled to interact with the defence industry CEOs.

Topic: Economy/Banking/Finance

2. The prompt corrective action (PCA) framework has been extended by RBI to government NBFCs.

• Govt NBFCs except those in the base layer will be subject to the PCA framework with effect from October 1, 2024.
• The extension of the PCA framework for NBFCs to government NBFCs (except those in the base layer) will be based on the audited financials of these NBFCs as of March 31, 2024, or thereafter.
• Prompt corrective action (PCA) framework for non-banking financial companies (NBFCs) became effective on October 1, 2022.
• At that time, PCA became effective based on the financial position of NBFCs on or after March 31, 2022.
• RBI had issued a circular to this effect to NBFCs in December 2021.
• The PCA framework is aimed at enabling a supervisory intervention at an appropriate time.
• It requires the supervised entity to initiate and implement remedial measures in a timely manner to restore its financial health.
• It also aims to act as a tool for effective market discipline.

Topic: Awards and Prizes

3. Jawaharlal Nehru University conferred an Honorary Doctorate on Dr. Samia Suluhu Hassan, the 1st woman President of Tanzania.

• She was conferred an Honorary Doctorate (Honoris Causa) for her pivotal role in fostering stronger India-Tanzania relations.
• She is on an official visit to India. Dr. Samia Suluhu Hassan acknowledged herself as a "product of Indian education".
• She attributed it to training received at National Institute of Rural Development and Panchayati Raj, Hyderabad.
• External Affairs Minister S. Jaishankar said, over 5000 Tanzanian nationals have already been trained in Indian educational institutions as part of the Indian Technical and Economic Cooperation Programme.
• Union Education Minister Dharmendra Pradhan said 1st offshore campus of any IIT is being set up in Zanzibar. It is scheduled to be inaugurated in early November.

(Source: PIB)

Topic: Government Schemes and Initiatives

4. Government of India’s Department of Animal Husbandry and Dairying launched the ‘A-HELP’ programme in Jharkhand on 10 October 2023.

• Minister of Agriculture, Animal Husbandry & Co-operative, Govt. of Jharkhand, Shri Badal Patralekh was the chief guest of the programme.
• Shri Badal Patralekh spoke about the 'A-HELP' program, which aims to empower women by engaging them as Accredited Agents.
• Secretary, Department of Animal Husbandry & Dairying, GoI, Smt. Alka Upadhyaya took part in the event virtually.
• The Department of Animal Husbandry and Dairying (DAHD) is embarking on “A-HELP” (Accredited Agent for Health and Extension of Livestock Production) initiative.
• It has already taken this initiative across different States/UTs including Bihar, Gujarat, Jammu and Kashmir, Karnataka, Madhya Pradesh, Uttarakhand, and Jharkhand.
• During the launch event, A-HELP Kits were distributed to Pashu Sakhis.

Topic: National News

5. “Protocol for Management of Malnutrition in Children” launched by Women and Child Development Minister Smriti Irani.

• On 10 October, it was launched to combat acute malnutrition at a function in New Delhi.
• It is a comprehensive program for better management of malnourished children in the country by identifying them and providing them with nutritious food.
• It provides detailed 10-step guidelines for the identification and management of malnourished children at the Anganwadi level, including decision-making for referral, nutrition management, and follow-up care.
• The guidelines include growth monitoring, appetite testing, nutritional management of malnourished children, and follow-up care of those children who manage to achieve expected growth parameters after the intervention.
• It also includes unique initiatives like the “Buddy Mother” concept which was used for the first time in the state of Assam.
• Under this scheme, the mother of a healthy baby guides the mother of a malnourished child to the Anganwadi center every week.       
• On this occasion, Mrs. Irani said that this management program designed to eliminate malnutrition will improve the health of children.
• The government is tackling the problem of malnutrition through a nutrition campaign.
• During Poshan Maah, 17 crore such activities took place in which efforts were made to overcome the problem of malnutrition.

(Source: News on AIR)

Topic: State News/ Maharashtra

6. ‘Lek Ladki’ (Beloved Daughter) scheme has been approved by the Maharashtra Government on 10 October.

• The scheme was announced in this year's state budget.
• This will be applicable to families with an annual income of up to Rs one lakh.
• As per the decision, a family with a yellow and saffron ration card will receive the benefits of the scheme.
• Under this scheme, the family will get Rs 5000 after the birth of the girl child, Rs 6000 when she takes admission in class 1, Rs 7000 after class 6, Rs 8000 after class 11, and Rs 75,000 after she completes 18 years of age.
• On completion of 18 years, the girl child will be given a total benefit of Rs 1.01 lakh.
• This scheme will be applicable to girls born after April 1, 2023.
• The scheme aims to promote the birth and education of the girl child and prevent child marriage and malnutrition.

Topic: Summits/Conferences/Meetings

7. The 8^th BRICS International Competition Conference will begin in New Delhi from 11 October 2023.

• The theme of the conference is New issues in competition law and policy, dimensions, perspectives, and challenges.
• Chairperson of Competition Commission of India (CCI) Ravneet Kaur said, the conference is a seminal event to be held in India after a decade.
• Over 600 delegates from the competition authorities of BRICS and non-BRICS nations, competition law experts, non-government advisors and domestic invitees are expected to take part in the conference.
• The heads of BRICS competition authorities will address the closing ceremony on 13 October 2023 and sign a Joint Statement.
• The conference is hosted biennially by the BRICS competition authorities.
• It provides a platform for promoting cooperation, experience sharing and mutual learning amongst the competition authorities of BRICS countries.

(Source: News on AIR)

Topic: Important Days

8. International Day of the Girl Child: 11 October

• International Day of the Girl Child is observed every year on 11 October to recognize girls’ rights.
• On December 19, 2011, the United Nations General Assembly adopted the resolution to declare October 11 as the International Day of the Girl Child.
• This day focuses attention on the need to address the challenges girls face.
• It also focuses attention on the need to promote girls’ empowerment and the fulfilment of their human rights.
• The theme of this year’s International Day of the Girl is "Invest in Girls' Rights: Our Leadership, Our Well-being".

Topic: Indian Economy

9. India’s net direct tax collections rose 21.8% to 9.57 Lakh Crore.

• The net collections have reached 52.5 per cent of the full-year budget estimates (BE) of ₹ 18.23 lakh crore.
• India’s net direct tax collections grew 21.8% to ₹9.57 lakh crore till October 9.
• The personal income tax revenue has increased by 32.5% and corporate taxes have risen by 12.4%.
• Refunds amounting to ₹ 1.50 lakh crore have been issued from 1 April 2023 to October 9, 2023.
• In the period from April 1 to October 9, India's gross direct tax collection increased by 17.95 per cent on the year to Rs 11.07 lakh crore.
• The gross revenues in 2022-23 were 22 per cent higher on a yearly basis.
• In the last few years, various efforts have been made to increase the tax base and improve compliance.

Topic: Summits/ Conferences/ Meetings

10. 16th edition of the Landscape and Gardening Expo has been inaugurated by actress Varsha Usgaonkar.

• The Landscape and Gardening Expo 2023 is being hosted by Mumbai.
• Firms dealing in horticulture development, Darjeeling orchid plants, bonsai, ornamental flowers, green roof systems, nursery products, soil substitutes, etc are participating in the event.
• A ‘Global Conference on Urban Green Living Concepts’ will be also organized.
• It will be organized at the Bombay Exhibition Center, NESCO in Goregaon from 10-12 October.
• It is being jointly organized by the gardens department of the Municipal Corporation of Greater Mumbai, the World Council on Urban Green Living Concepts, and Tree Culture.

(Source: News on AIR)

Topic: Government Schemes and Initiatives

11. Bima Vahak will be deployed by IRDAI in every Gram Panchayat.

• On October 9, the Insurance Regulatory and Development Authority of India (IRDAI) stated that it would deploy Bima Vahaks in every Gram Panchayat before December 31, 2024.
• As per the guidelines, each insurer will endeavor to engage individual insurance carriers and/or corporate Bima Vahaks with a focus on progressively achieving coverage of each Gram Panchayat.
• IRDAI issued guidelines for 'Bima Vahaks (BV)' with minor changes in the framework issued in May 2023.
• Under the new guidelines, there is no restriction on how many insurers a Bima Vahak is allowed to work with.
• IRDAI has removed the following clause: Work only with one life insurer, one general insurer, and one health insurer and in addition, where permitted by the authority, work with the Agricultural Insurance Company of India Limited.
• The aim of Bima Vahak continues to be woman-centric, and a dedicated distribution channel will ensure accessibility and availability of insurance in every corner of the country.
• An individual Bima Vahak could be any individual appointed by an insurer or appointed by a corporate Bima Vahak.
• A Bima Vahak shall be a legal person registered in accordance with relevant laws and appointed by the insurer.
• Both corporate and individual Bima Vahaks will be authorized to carry out activities such as collection of proposal information and Know Your Customer (KYC) documents and coordination of claims-related services.

Topic: Geography

12. Typhoon Koinu caused floods in Hong Kong.

• On October 9, parts of Hong Kong were flooded because Typhoon Koinu caused torrential rain overnight.
• It was the second time in a month that city authorities had sent out a rain warning, the highest in Hong Kong.
• More than 150 millimetres of rainfall were felt early hours across much of the region, and parts of urban Hong Kong Island received more than 300 millimeters of rainfall.
• According to the Hong Kong Observatory, Koinu was moving west-southwest at around 10 kph (6 miles per hour) while crossing the west coast of China's Guangdong province.
• China's national forecaster issued storm and typhoon warnings and suspended schools in various districts of Guangdong, including the city of Zhuhai.

Topic: Indian Economy

13. IMF raised India's FY24 GDP growth rate forecast by 20 basis points.

• IMF predicted that India’s GDP growth would be 6.3% in FY 2024. It raised India’s GDP growth forecast by 20 basis points.
• It has increased the GDP forecast due to stronger consumption between April and June.
• IMF had projected a growth rate of 6.1 per cent for India in FY24.
• IMF’s latest World Economic Outlook (WEO) kept its global growth forecast unchanged at 3 per cent for 2023.
• The global growth projection for 2024 will be 2.9 per cent.
• Earlier, the World Bank has predicted that India will grow at 6.3 per cent in FY24.
• The finance ministry and Reserve Bank of India (RBI) have retained their 6.5 per cent GDP growth estimate for FY24.

Topic: International News

14. Sri Lanka to take over chairmanship of Indian Ocean Rim Association during 23rd Council of Ministers' Meeting.

• The 23rd Council of Ministers' Meeting will start on October 11, 2023, in Colombo.
• Sri Lanka will hold the chairmanship of the association from 2023 to 2025.
• Bangladesh's Foreign Minister will hand over the chairmanship to Sri Lanka's Foreign Minister M.U.M. Ali Sabry.
• Sri Lanka’s Foreign Ministry said that member countries will hold discussions on collaboration in various sectors, including trade and investment, maritime safety and security, fisheries management, disaster risk management, etc.
• Foreign Ministers of Bangladesh, India, Iran, Mauritius, Malaysia and South Africa will attend the meeting.
• Sri Lanka’s Foreign Minister Ali Sabry will chair the Council. It is the highest decision body of IORA.
• Indian Ocean Rim Association (IORA):
  • It is an inter-governmental organization formed in 1997 to foster regional economic cooperation.
  • It consists of 23 countries bordering the Indian Ocean.
  • It is based on the principles of Open Regionalism for strengthening Economic Cooperation.
  • India is one of the founding members of IORA.
  • The Secretariat of IORA is located at Ebene, Mauritius.

(Source: News on AIR)