Daily Current Affairs and GK | 29 October 2024

Topic: Banking System

1. RBI has given its approval to Ujjivan Small Finance Bank for foreign exchange services.

• Ujjivan Small Finance Bank has received the 'Authorised Dealer Category 1 Licence', which will help it offer a range of forex products and services.
• Under Section 10(1) of the Foreign Exchange Management Act (FEMA), 1999, the license has been granted and will allow the bank to engage in a wide range of foreign exchange services and transactions.
• The Authorised Dealer Category 1 license enables USFBs to facilitate various foreign exchange operations such as remittance, international banking services and foreign exchange transactions for customers.
• This move is expected to significantly strengthen the Bank's ability to meet the needs of its customers in the areas of international trade and remittances.
• This license is subject to conditions imposed by RBI from time to time, but it is a big step towards expanding the services of the bank.

Topic: National News

2. 'Digital Memorial of Valour' launched by the Railway Protection Force in honour of the brave martyrs.

• On October 25, the 'Digital Memorial of Valour' was launched by the Railway Protection Force, a paramilitary force under the Indian Railways, in New Delhi.
• 'Digital Memorial of Valour' is a website to honour the sacrifice of our courageous personnel, where you can digitally decorate the photo of a martyr with a wreath and candle.
• It is a unique digital platform where citizens can pay their tributes to the martyrs of the Indian Force.
• The website provides a sacred space for reflection and remembrance, as it allows users to honor the fallen by digitally decorating their photos with wreaths and candles.
• The website carries the photographs, names and ranks of 14 martyrs of the force who died last year.
• It also has a list of 1,011 martyrs of the Railway Protection Force and Railway Protection Special Force (RPSF) who sacrificed their lives in the service of the nation.
• Apart from paying homage, the website also invites users to subscribe to the digital copy of 'List of Martyrs of Railway Protection Force'.
• This digital copy has been released from October 28, 2024.

(Source: PIB)

Topic: Infrastructure and Energy

3. Government has approved an Rs 177-crore project to develop Muthalapozhi Harbour in Thiruvananthapuram.

• The government has decided to develop Muthalapozhi Harbour in Thiruvananthapuram.
• The redevelopment project includes both water and land facilities upgradation.
• The Government will allocate Rs 106.2 crore under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), while the state will contribute Rs 70.8 crore.
• Rs 13 crore will be allocated for smart-green port initiatives and coastal protection.
• Union government has commissioned the Pune-based Central Water and Power Research Station (CWPRS).

Topic: Defence

4. U.S., France, and Armenia emerged as India's top three defence export destinations.

• The U.S., France and Armenia are the top three destinations for the Indian military exports.
• India is currently exporting military equipment to more than 100 countries.
• The Defence Ministry has been pushing defence exports and manufacturing to improve domestic production of military equipment.
• India exports parts of aircraft and helicopters manufactured by Indian firms for global defence majors like Lockheed Martin and Boeing to the US.
• Software and electronic equipment are exported to France.
• ATAGS artillery guns, Pinaka multi-barrel rocket launcher systems, and Swathi weapon-locating radars were exported to Armenia.
• The Defence Industrial Base has been expanding with the presence of 16 Defence public sector units, 430 firms with licenses along 16000 medium and small-scale enterprises.