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Current Affairs 14 October 2022

Current Affairs 14 October 2022

Dear aspirants, to crack any type of competitive examination current affairs plays a significant role and for that we are providing daily important news that are most important for your examination. So we are here for you to provide the important Recent and Latest Current Affairs 14 October 2022.

Current Affairs 14 October 2022 includes all newspapers such as The Hindu, The Economic Times, Business Standard, Times of India, PTI, Indian Express, and all Government official websites.

 News Headlines 

  1. World Standards Day 14 October 2022
  2. Govt forms expert committee to probe WHO report on deaths of children in Gambia
  3. Eastern Naval Command conducts offshore security exercise ‘Prasthan’
  4. Paytm partners with Jana Small Finance Bank for deployment of card devices
  5. Country’s first slender loris habitat in Karur, Dindigul districts of TN notified
  6. RBI asks banks to set aside capital, provisions for unhedged FX exposure
  7. Meghalaya govt announces first-ever ‘Mental Health and Social Care Policy’
  8. IDBI Bank partners Vayana Network on supply chain finance
  9. World Bank extends unconditional loan of $250 million for SALT project in Andhra Pradesh
  10. Ujjain’s Mahakal Corridor: PM Modi inaugurates Rs 856-crore ‘Mahakal Lok’ project in Ujjain
  11. NPCI collaborates with Worldline to support UPI, RuPay payments in Europe
  12. India up six places for reducing inequality, ranks 123 globally, according to the CRII
  13. Shri Nitin Gadkari Launches first of its kind pilot project on Flexi-Fuel Strong Hybrid Electric Vehicles (FFV-SHEV) in India
  14. MDs, CEOs of ARCs can’t have more than 3 terms in office without a cool-off
  15. India’s first Covid cure Vincov-19 completes second phase clinical trial
  16. RBI cancels the licence of Pune-based the Seva Vikas Co-operative Bank

 News Details 

1. World Standards Day 14 October 2022

  • Every year on October 14, the World Standards Day is observed, to raise awareness about the importance of using standardised measurements, technologies, and industries.
  • This day, also known as International Standards Day.
  • The first World Standards Day was marked on October 14, 1946.
  • The day was established by international standards bodies like ISO (the International Organization for Standardization), IEC (the International Electrotechnical Commission), and ITU (the International Telecommunication Union).
  • Theme (2022)
    • The theme for World Standards Day 2022 is ‘Shared Vision for a Better World.’

2. Govt forms expert committee to probe WHO report on deaths of children in Gambia

  • The Centre has formed a four-member expert committee to investigate the report sent by the World Health Organisation (WHO) on the deaths of 66 children in Gambia by consumption of cough syrups from Sonipat-based company Maiden Pharmaceuticals Limited.
  • The Expert committee will be chaired by Vice Chairperson of Standing National Committee on Medicines Dr YK Gupta.
  • About WHO:
    • Director general: Dr Tedros Adhanom Ghebreyesus.

3. Eastern Naval Command conducts offshore security exercise ‘Prasthan’

  • The Offshore Security Exercise, ‘Prasthan’ in the Offshore Development Area (ODA) off Kakinada was conducted by Eastern Naval Command.
  • The Half Yearly Exercise was conducted in the KG basin to validate SOPs, address various contingencies and strengthen the command & control organisation towards Maritime Security.
  • More information:
    • Led by the Navy, the exercise saw participation from the various oil operators, like ONGC, RIL, Vedanta, and other stakeholders.

4. Paytm partners with Jana Small Finance Bank for deployment of card devices

  • One97 Communications Limited, which owns the Paytm brand, has partnered with Jana Small Finance Bank to deploy card machines to further drive digitisation among merchants across the country.
  • This partnership will enable Jana Bank to extend Paytm’s All-in-one EDC machines to its existing and potential customers, providing a one-stop solution for digital payment needs.
  • More information:
    • Ajay Kanwal- MD & CEO, Jana Small Finance Bank.
  • About Jana Small Finance Bank:
    • Founded: 2018.
    • Headquarters: Bangalore, Karnataka, India.
    • MD & CEO: Ajay Kanwal.

5. Country’s first slender loris habitat in Karur, Dindigul districts of TN notified

  • Tamil Nadu government has notified the country’s first Kadavur slender loris sanctuary covering 11,806 hectares in Karur and Dindigul districts of the State.
  • Slender lorises are small nocturnal mammals and are arboreal in nature, as they spend most of their life on trees.
  • The species has a wide range of ecological roles and importance to play in the terrestrial ecosystem.
  • About Tamil Nadu:
    • Governor: R. N. Ravi.
    • Capital: Chennai.
    • Chief minister: M. K. Stalin.

6. RBI asks banks to set aside capital, provisions for unhedged FX exposure

  • The Reserve Bank of India tweaked guidelines for banks on incremental capital and provisioning requirements in relation to unhedged foreign currency exposures, amid the weakness in the rupee vis-a-vis the US dollar.
  • The revised rules will come into force from January 1, 2023.
  • Entities which do not hedge their foreign currency exposures can incur significant losses.
  • What is FX exposure (Foreign Exchange Exposure)?
    • Fx exposure refers to the risk that a company takes on when making transactions in foreign currencies.

7. Meghalaya govt announces first-ever ‘Mental Health and Social Care Policy’

  • On the occasion of World Mental Health Day, the Meghalaya government announced the state’s first-ever draft ‘State Mental Health and Social Care Policy’.
  • The policy aims to promote overall mental health and well-being and facilitate appropriate access and care pathways for common and severe mental health concerns.
  • More information:
    • Meghalaya Governor: Satya Pal Malik.
    • Meghalaya Chief Minister: Conrad Kongkal Sangma.

8. IDBI Bank partners Vayana Network on supply chain finance

  • IDBI Bank has signed a memorandum of understanding with Vayana Network as its first fintech partner for end-to-end digitization services.
  • This partnership, the bank said, aims to contribute to the growth of the supply chain finance penetration in India, which is less than 1% of gross domestic product and contributes only 5% of the outstanding banking assets.
  • About IDBI Bank:
    • Full form = Industrial Development Bank of India.
    • MD & CEO: Rakesh Sharma.

9. World Bank extends unconditional loan of $250 million for SALT project in Andhra Pradesh

  • World Bank (WB) has extended an unconditional loan of $250 million to the Supporting Andhra’s Learning Transformation (SALT) project in appreciation of the path-breaking reforms implemented by the State government.
  • The SALT is the first project in the school education sector to be funded by the World Bank without any precondition.
  • About World Bank:
    • President: David Malpass.
    • MD and CFO: Anshula Kant.
    • Headquarters: Washington, D.C., U.S.

10. Ujjain’s Mahakal Corridor: PM Modi inaugurates Rs 856-crore ‘Mahakal Lok’ project in Ujjain

  • PM Narendra Modi inaugurated the first phase of the Mahakaleshwar Temple corridor development project in Madhya Pradesh’s Ujjain.
  • The Hindu temple is dedicated to lord Shiva & is among the 12 celebrated Jyotirlingas in India.
  • The corridor measures over 900 m in length and will house around 200 statues & murals of lord Shiva and goddess Shakti, among other religious figures.
  • Ashish Pathak, CEO of Ujjain Smart City.
  • About Madhya Pradesh:
    • Capital: Bhopal.
    • Chief minister: Shivraj Singh Chouhan.
    • Governor: Mangubhai C. Patel.

11. NPCI collaborates with Worldline to support UPI, RuPay payments in Europe

  • French multinational payment services firm Worldline has collaborated with NPCI International Payments Ltd (NIPL), the global arm of National Payments Corporation of India (NPCI), to support Indian digital payment modes in Europe.
  • The first target markets for NIPL are set to include Benelux and Switzerland with further plans for expansion.
  • About NIPL:
    • CEO: Ritesh Shukla.

12. India up six places for reducing inequality, ranks 123 globally, according to the CRII

  • The 2022 Commitment to Reducing Inequality (CRI) Index is the first detailed analysis published looking at governments’ policies and actions to fight inequality during the first two years of the pandemic.
  • India has moved up six places from 129 in 2020 to 123 in 2022 out of 161 countries.
  • CRII reviews the spending, tax and labour policies and actions of 161 governments during 2020–2022.
  • Norway leads the CRII followed by Germany and Australia.
  • More information:
    • Gabriela Bucher, Oxfam International’s Executive Director.

13. Shri Nitin Gadkari Launches first of its kind pilot project on Flexi-Fuel Strong Hybrid Electric Vehicles (FFV-SHEV) in India

  • Road Transport and Highways Minister Nitin Gadkari launched Toyota’s first of its kind pilot project on Flexi-Fuel Strong Hybrid Electric Vehicles in India.
  • These vehicles will run on 100 percent petrol as well as 20 to 100 percent blended ethanol and electric power.
  • The Minister said, 6 to 8 percent increase in agricultural growth rate is necessary for AtmaNirbhar Bharat.
  • More information:
    • Vice-chairman of Toyota Kirloskar Motors Pvt. Ltd: Shri Vikram Kirloskar.
    • MD & CEO of Toyota Kirloskar Motor: Mr Masakazu Yoshimura.

14. MDs, CEOs of ARCs can’t have more than 3 terms in office without a cool-off

  • The Reserve Bank of India (RBI) said managing directors (MDs) and chief executive officers (CEOs) of asset reconstruction companies (ARCs) cannot have more than three terms in office, with each term not exceeding five years.
  • In addition, the retirement age of CEOs has been brought on a level pegging with CEOs of private banks, which is 70 years.
  • More information:
    • RBI said the Chair of the ARC’s board should be an independent director.

15. India’s first Covid cure Vincov-19 completes second phase clinical trial

  • VINS Bioproducts, based in Hyderabad, in collaboration with the Centre for Cellular and Molecular Biology (CCMB) and the University of Hyderabad, has announced the successful completion of Phase 2 clinical trials of VINCOV-19, India’s first antidote and a cure against SARS-CoV-2 virus.
  • The product basically contains equine polyclonal antibodies (EpAbs) against the Covid-19 virus.
  • More information:
    • Vinay K Nandicoori, director, CSIR-CCMB.

16. RBI cancels the licence of Pune-based the Seva Vikas Co-operative Bank

  • Reserve Bank of India cancelled the licence of Pune-based the Seva Vikas Co-operative Bank Limited as the lender does not have adequate capital and earning prospects.
  • The bank ceases to carry on banking business, with effect from the close of business on 10, Oct 2022, according to RBI.
  • Payment to depositors will be made in compliance with the provisions of the DICGC Act, 1961.
  • More information:
    • Earlier in August 2022, RBI had cancelled the license of Pune-based Rupee Cooperative Bank.

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So, these are all the current affairs 14 October (today). If you want to explore the full list (all CA), including current affairs 14 October, please click on the link (Current Affairs).

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