Daily Current Affairs and GK | 18 October 2024

Topic: National News

1. The new guidelines ban the use of words like natural, organic, etc. by brands.

• The guidelines have been issued by the Consumer Protection Authority of India to combat greenwashing and misleading environmental claims in advertising products.
• Greenwashing refers to deceptive practice in which companies make exaggerated or false claims about the environmental benefits of their products or services, often using vague terms such as "natural," "organic," or "eco-friendly."
• According to the Consumer Protection Authority, this strategy misleads consumers and undermines genuine environmental efforts.
• The comprehensive guidelines titled “Guidelines for Prevention and Regulation of Greenwashing or Deceptive Environmental Claims, 2024” have been issued by the Central Consumer Protection Authority (CCPA) to ensure transparency and accuracy in environmental marketing claims.
• Clear definitions have been provided for terms such as “environmental claims” and “greenwashing” to ensure there is a common understanding between businesses and consumers.
• All environmental claims must be supported by credible scientific evidence or third-party certification.
• Adequate disclosures must be provided about the product, its manufacturing process and its packaging.

Topic: Banking System

2. On October 16, the first branch in Singapore inaugurated by HDFC to expand financial services.

• The Monetary Authority of Singapore (MAS) has granted a wholesale banking license to HDFC Bank effective October 15, 2024.
• This will enable the bank to offer a wider range of financial products and services to Singapore residents.
• HDFC Bank will continue to provide loan-related administrative services to NRIs in Singapore for obtaining home loans and purchasing properties in India through its new branch.
• Rakesh Singh, Group Head, International Banking, Investment Banking, Private Banking, Digital Ecosystems & BAS, HDFC Bank, inaugurated the branch.
• HDFC Bank's international operations now comprise five branches, including one each in Hong Kong, Bahrain, Dubai, Singapore and an IFSC Banking Unit (IBU) at Gujarat International Finance Tech City.
• The lender also has representative offices in Kenya, Abu Dhabi, Dubai and London.
• The balance sheet size of the bank's international business as of March 31, 2024 was $9.06 billion.

Topic: Awards and Prizes

3. President Murmu received an honorary doctorate in Algeria.

• President Droupadi Murmu received an honorary doctorate in political science from Sidi Abdellah Science and Technology Pole University in Algiers.
• The doctorate was presented to Murmu by Kamal Baddari, Algeria’s Minister of Higher Education and Scientific Research.
• President Murmu highlighted India’s commitment to providing quality education at affordable prices.
• After Algerian independence, diplomatic relations between both countries were established in July 1962.

(Source: DD News)

Topic: Government Schemes and Initiatives

4. PM Gati Shakti National Master Plan’s district version has been launched for 27 aspirational districts.

• The district version of the plan will cover over 750 districts in the next 18 months, according to Commerce & Industry Minister Piyush Goyal.
• PM GatiShakti’s National Master Plan has recently completed three years.
• On the occasion of three years of PM Gati Shakti, District Master Plan has been launched.
• Guidelines have been issued by the Minister to help cities prepare their logistics plan.
• The government had expanded the ambit of PM Gati Shakti to social infrastructure to map power distribution lines, schools, hospitals and others using the ‘Area Development Approach’ initiative.
• PM GatiShakti National Master Plan (PMGS-NMP) was launched on 13th October 2021.
• It was launched for providing multimodal connectivity infrastructure to various economic zones.
• On 21st October 2021, the Cabinet Committee on Economic Affairs (CCEA) gave approval for the implementation of PM GatiShakti National Master Plan.