Daily Current Affairs and GK | 17 October 2024

Topic: National Appointment

1. Partha Sengupta will be appointed as Bandhan Bank MD, CEO for 3 years.

• The appointment of former Indian Overseas Bank MD, CEO Partha Pratim Sengupta as MD, CEO of Bandhan Bank approved by the Reserve Bank of India (RBI).
• His appointment has been approved for a term of three years from the date of assuming charge.
• He has nearly four decades of experience in the banking industry.
• The proposal for appointment of Sengupta will now be placed before the nomination and remuneration committee and the board for consideration and approval.
• Sengupta will replace interim CEO Ratan Kumar Kesh.
• Ratan Kumar Kesh was appointed interim MD and CEO following the retirement of Chandrashekhar Ghosh on 9 July 2024.

Topic: Government Schemes and Initiatives

2. The National Electricity Plan was unveiled by the government to meet India's growing energy needs.

• On October 14, the National Electricity Plan (Transmission) unveiled by Union Power Minister Manohar Lal Khattar to meet the growing energy demand of the Indian economy.
• The plan has been prepared by the Central Electricity Authority (CEA).
• It aims to install 500 GW of renewable energy capacity by 2030 and reach over 600 GW of installed renewable energy capacity by 2032.
• Unveiling the plan, the minister said, "We estimate that our power demand will reach 708 GW by 2047 and to meet this, we need to increase our capacity four times to 2,100 GW."
• The plan outlines several major initiatives aimed at moving India towards a green and clean economy.
• These include integrating 10 GW of offshore wind farms, 47 GW of battery energy storage systems, and 30 GW of pumped storage plants.
• The government plans to add about 190,000 circuit kilometres of transmission lines and 1,270 GVA of transformation capacity over the next decade.
• This initiative is expected to attract investments worth about ₹9 lakh crore in the transmission sector.

Topic: National News

3. Cabinet approves MSP for rabi crops for the 2025-26 season.

• The Union Cabinet has approved new Minimum Support Prices (MSP) for Rabi crops for the upcoming marketing season 2025-26.
• This decision has been taken to ensure better income for farmers and to promote the cultivation of key crops during the Rabi season.
• The MSP for wheat has been increased by Rs 150 per quintal. This brings the new price to Rs 2,425 per quintal.
• For mustard, the MSP has been raised by Rs 300. Its price has increased from Rs 5,650 to Rs 5,950 per quintal.
• Mustard is widely grown in states like Rajasthan, Haryana, and Madhya Pradesh.
• For gram, safflower and barley, there is an increase of Rs 210 per quintal, Rs140 per quintal and Rs130 per quintal respectively.
• The expected margin over all-India weighted average cost of production is 105% for wheat, followed by 98 for rapeseed & mustard.
• This increased MSP of rabi crops will ensure remunerative prices to the farmers.

Topic: State News/ Andhra Pradesh

4. Union Minister Shri Jayant Chaudhary Inaugurated the National Skill Training Institute Extension Centre at Visakhapatnam.

• A new National Skill Training Institute (NSTI) extension centre at the Andhra Medical Tech Zone (AMTZ) campus has been inaugurated in Visakhapatnam.
• This is part of the government’s commitment to create more avenues for skill training and expanding employment opportunities for the youth of Andhra Pradesh.
• The extension centre will provide training in Computer Software Applications (CSA) under the Crafts Instructor Training Scheme (CITS) for the 2024-25 academic session.
• It will also provide short-term courses on various applications of computers, under the Advanced Vocational Training scheme, implemented by the Directorate General of Training (DGT).
• The establishment of the NSTI extension centre marks a significant step in supporting economic growth and boosting workforce employability.