Daily Current Affairs and GK | 6 October 2023

Topic: Indian Economy

1. RBI keeps the repo rate unchanged at 6.5%.

• Reserve Bank of India (RBI) Governor Shaktikanta Das released the bi-monthly monetary policy for the financial year 2023-24.
• RBI has maintained the repo rate steady at 6.5%. It is the fourth time that RBI has kept the repo rate unchanged.
• The standing deposit facility (SDF) rate remains at 6.25% and the marginal standing facility (MSF) rate and the Bank Rate at 6.75%.
• The retail inflation has been projected at 5.4% for 2023-24. Inflation will be 6.4% in the second quarter, Q3 at 5.6% and Q4 at 5.2%.
• Headline inflation had increased due to rise in the prices of tomato and other vegetable.
• It decreased partly in August and is expected to see further easing in September.
• Real GDP growth for 2023-24 is projected at 6.5 per cent. GDP growth in Q2 will be 6.5 per cent; Q3 at 6.0 per cent; and Q4 at 5.7 per cent.
• RBI Governor said that the global economy is slowing due to tight financial conditions, protracted geopolitical tensions and increasing geo-economic fragmentation.
• Global trade is contracting and headline inflating is decreasing but it is still above from target in major economies of the world.
• The Monetary Policy Committee has decided to remain focused on bringing down inflation within target and supporting economic growth.

Topic: Important Days

2. World Cerebral Palsy Day: 06 October

• World Cerebral Palsy Day is observed every year on 6 October.
• This day is observed to raise awareness about the people living with Cerebral Palsy condition.
• “Together Stronger” is the theme of this year’s World Cerebral Palsy Day.
• The theme highlights the importance of unity, collaboration, and mutual support.
• It also emphasized that when individuals, families, caregivers, and communities come together they become a powerful force for positive change and inclusion.
• Children and adults suffering from cerebral palsy often face challenges that hinder their full participation in society.
• Department of Empowerment of Persons with Disabilities is observing the Cerebral Palsy Day by conducting various events across India.
• Cerebral palsy (CP):
• It is caused by abnormal development of part of the brain or by damage to parts of the brain that control movement.
• It is a group of disorders that affect a person's ability to move and maintain balance and posture.

Topic: Awards and Prizes

3. Norwegian writer John Fosse received the 2023 Nobel Prize for Literature.

• The Swedish Academy has said that the award has been given to him for his innovative plays and prose, which give voice to the unsayable.
• Mr Fosse is one of the most popular playwrights in the world and has also made a considerable mark in the prose genre.
• The main subject of Fosse's works is the human condition.
• The Nobel Prize Committee said that John Fosse presents everyday situations that can be commonly seen in people's lives.
• Fosse's language and radical reduction of dramatic action convey the most powerful human emotions of anxiety and powerlessness in the simplest of terms.
• Fosse now joins an illustrious list of former winners, ranging from Toni Morrison to Ernest Hemingway.

(Source: News on AIR)

Topic: State News/ Madhya Pradesh

4. 35% reservation announced by Madhya Pradesh for women in government jobs.

• The state government has issued a notification to give 35% reservation to women in all recruitments except the Forest Department.
• The government has amended the Madhya Pradesh Civil Services (Special Provisions for Appointment of Women) Rules, 1997 to provide 35% reservation for women in the state.
• 35% of the posts in the service under the State (except Forest Department) shall be reserved in favour of women at the stage of direct recruitment and the said reservation shall be horizontal and compartment-wise.
• Chief Minister Shivraj Singh Chouhan recently announced that 35% of vacancies in police and other government jobs will be filled by women.
• Additionally, 50% of teaching positions will be reserved for women.
• Madhya Pradesh was one of the states to implement 50% reservation for women in the elections of Panchayats and urban bodies.
• The state also provides concessional fees for its registry if the property is in the name of a woman.
• Out of a total of 5 crore 60 lakh voters in the state, 2 crore 72 lakh are women, voters.

Topic: Summits/Conference/Meetings

5. 7th India-EU Cyber Dialogue held in Brussels on 5 October.

• In the context of the strategic partnership between India and the EU, both sides appreciated the Cyber Dialogue Mechanism.
• It provides a platform to discuss a wide range of cyberspace-related issues.
• Both sides exchanged views on cyber policies, strategies, and areas of mutual interest.
• Both discussed cyber cooperation in multilateral fora, including at the United Nations, and in regional settings.
• In addition, both also discussed cooperation in promoting capacity building in cyberspace and combating criminal use of information and communications technologies.
• Both sides agreed to hold the next India-EU Cyber Dialogue at a mutually convenient date.

Topic: Indian Economy

6. The government has maintained the GPF rate at 7.1%.

• The government has kept the interest rate on General Provident Fund (GPF) savings at 7.1% for the October-December quarter.
• For the 15th consecutive quarter, the government has maintained the status quo for payout rates on retirement savings of government employees.
• On October 4, the Finance Ministry notified the rate, which is also applicable for other provident funds for government employees, including the Railways and those serving in the armed forces.
• In the first quarter of 2020–21, the GPF rate was last changed when it was reduced from 7.9% to 7.1%.
• While rates on select small savings schemes have been increased for five consecutive quarters.
• Returns on the popular Public Provident Fund (PPF) have remained unchanged at 7.1% since the first quarter of 2020-21.
• Last week, the government had kept the interest rates offered on 11 out of 12 small savings schemes for this quarter at the same level as the previous quarter.
• Returns on five-year recurring deposits alone have increased to 6.7% for this quarter, from 6.5% in the July-September period.

Topic: Awards and Prizes

7. Dr Joyeeta Gupta has received the Spinoza Prize.

• Dr Joyeeta Gupta is an Indian-origin professor. She has received this prize for her work in the field of climate change at a ceremony in the Netherlands.
• The Netherlands' Minister for Education, Science, and Culture, Robert Dijkgraaf presented the prize to her at The Hague on 04 October 2023.
• Spinoza Prize is the highest distinction in Dutch science. The Dutch Research Council prize is worth 1.5 million euros.
• Prof. Dr Joyeeta Gupta intends to spend it on scientific research and activities related to knowledge utilisation.
• Joyeeta Gupta is a Dutch environmental scientist. She is a professor of Environment and Development in the Global South at the University of Amsterdam.

(Source: News on AIR)

Topic: MoUs/Agreements

8. India and UAE signed a strategic partnership agreement. 

• The agreement is for developing and launching UAE’s payment card scheme based on the RuPay card.
• Union Minister Piyush Goyal is on a two-day visit to the United Arab Emirates (UAE).
• During his visit, he co-chaired the 11th meeting of the India-UAE High-level Task Force on Investments (HLTFI) with the Managing Director (MD) of Abu Dhabi Investment Authority (ADIA) Sheikh Hamed bin Zayed Al Nahyan.
• During the meeting, both leaders witnessed the signing of the strategic partnership agreement between NPCI and Al Etihad Payments (AEP) for Domestic Card Scheme Implementation in UAE.
• Al Etihad Payments (AEP) is a subsidiary of the Central Bank of the UAE. 
• According to the agreement, the National Payments Corporation of India (NPCI) and AEP will together build, implement and operationalize UAE's domestic card scheme modelled on India’s RuPay card.
• Union Minister Piyush Goyal said that India and UAE are aiming to expand the bilateral trade to 100 billion dollars.

(Source: News on AIR)

Topic: Summits/ Conferences/ Meetings

9. Union Home Minister Amit Shah inaugurated 3rd two-day "Anti-Terror Conference".

• The National Investigation Agency (NIA) organized a two-day anti-terror conference in New Delhi.
• Amit Shah said that a uniform anti-terrorism structure should be established under the purview of the National Investigation Agency (NIA) in all the States.
• He said that a model anti-terrorism structure should be established under the purview of the NIA.
• For better coordination between Central and State agencies, the hierarchy, structure, and standard operating procedure of investigation of all anti-terrorism agencies in all states should be made uniform.
• Amit Shah said that all anti-terror agencies will have to adopt a ruthless approach so that new terrorist organisations cannot be formed.
• The task of NIA, ATS and STF should not be limited to investigation but they should also think out of the box to counter new forms of terrorism.
• He said that in the last nine years, the Central and State agencies have succeeded in firmly curbing all forms of terrorism.
• The database of terrorists should be used for investigation, prosecution, prevention and action by all anti-terrorism agencies.

(Source: News on AIR)

Topic: India and its neighbours

10. Bangladesh received uranium for its Rooppur Nuclear power Plant from Russia.

• Bangladesh received the first batch of uranium from Russia for its Rooppur Nuclear Power Plant (RNPP).
• Bangladesh became the 33rd nuclear power-producing country in the world after the commissioning of the Rooppur nuclear plant.
• Rosatom Director General, Aleksey Likhachev, handed over the fuel at a function.
• This is Bangladesh's dream project. The second shipment of uranium will arrive in Dhaka from a special plane at the Dhaka Shahjalal International Airport.
• A Russian contractor, Rostam, is involved in building the 2400 MW Rooppur Nuclear Power Plant with two units.
• Each unit has the capacity to produce 1200 MW of electricity.
• Power can be produced for one year after reloading the nuclear fuel.
• Russia has also promised to take back the spent fuel of the Rooppur Plant to their country.

(Source: News on AIR)

Topic: National Appointment

11. Muneesh Kapur has been appointed as executive director of RBI.

• With effect from October 3, the Reserve Bank of India (RBI) has appointed Muneesh Kapur as its executive director.
• Before being promoted to Executive Director, Kapur was Advisor in Charge of the Monetary Policy Department and Secretary of the Monetary Policy Committee.
• Over a period of nearly three decades, Kapoor has worked in the areas of macroeconomic policy and research and monetary policy in the Department of Economic Policy and Research and Monetary Policy Department at the RBI.
• During 2012–15, he also served as an advisor to the Executive Director of the International Monetary Fund.
• As executive director, Kapoor will look after the Department of Economic and Policy Research.

Topic: Sports

12. Neeraj Chopra won the gold medal in Asian Games 2023.

• On October 4, creating another historic moment, the world's number one javelin thrower, India's Neeraj Chopra won the gold medal.
• Neeraj Chopra threw a season's best of 88.88 meters in the 19th Asian Games going on in Hangzhou, China.
• Along with this, Chopra also defended his title and world number one position.
• He took the top spot with an effort of 88.88m in the final throw.
• Apart from Neeraj, India's Kishore Jena won the silver medal with her best throw of 87.54m.
• India also won a gold medal in the compound archery mixed team final.
• India crosses the 80-medal mark for the first time in Asian Games.

Topic: Geography

13. 14 dead and 102 missing in Sikkim flash floods.

• Cloudburst over Lhonak Lake in north Sikkim triggered flash floods in the Teesta River basin.
• As per the Sikkim State Disaster Management Authority (SSDMA), more than 2,011 people have been rescued.
• 22 Army soldiers are also missing after the flash floods. More than 3,000 tourists are feared to be stranded in different parts of the state.
• Lhonak Lake is situated in the northwest of the state at 17000 ft. The cloud burst brought incessant rains.
• About half the area of South Lhonak Lake in Sikkim was drained out after the cloudburst. Due to this, water entered the low-lying areas.
• This increased water levels in the Teesta River that flooded four districts including Mangan, Gangtok, Pakyong and Namchi.
• The flood in Sikkim became worse after the release of water from the Chungthang dam.
• Cloudburst:
  • Sudden and very heavy rainfall in a short period is referred to as Cloudburst.
  • As per the IMD, it is a weather phenomenon with precipitation of 100mm/h over a geographical region of approximately 20-30 square km.
  • In India, most of the Cloudburst events occur in July and August in the Himalayan region.
  • During the cloudburst, the relative humidity and cloud cover are at the maximum level with low temperature and slow wind.

Topic: Summits/ Conferences/ Meetings

14. 50th India International Knit Fair will be organized from 12 to 14 October.

• The 50th India International Knit Fair will be organized at the India Knit Fair Association complex (IKFA) in Tiruppur, Tamil Nadu.
• It will be organized by the India Knit Fair Association (IKFA).
• It will be organized in association with the Apparel Export Promotion Council and the Tiruppur Exporters’ Association.
• The main theme of the fair is “Active and Sportswear, Environmental Social Governance, Artificial Intelligence and Digitalisation”.
• Many exhibitors from Tiruppur, Chennai, Coimbatore, Karur, and Gujarat will take part in the fair.
• IKFA has tied up with the Sourcing Consultants Association, Association of Buying Agents for Textiles, Brand Sourcing Leaders, and the NIFT Alumni.