Current Affairs 9 October 2022

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Current Affairs 9 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 Post Day 9 October 2022
2. Union Minister Dr. Mahendra Nath Pandey inaugurated ‘Conference on Industry 4.0: Challenges Ahead and Way Forward’
3. ICICI Bank launches Smart Wire, an online solution for inward remittances
4. Hero MotoCorp’s first-ever electric scooter, Vida V1, launched in India, will run up to 165 km in a single charge
5. IREDA celebrates “Cyber Jaagrukta Diwas”
6. SEBI Clarifies on Guidelines pertaining to Instruction Slip for Shares Pledging
7. Gulf Oil ropes in cricketer Smriti Mandhana as Brand Ambassador
8. Unity Bank introduces special FD scheme with lucrative interest rate, that offers 8.4% to senior citizens
9. RBI approves reappointment of Prashant Kumar as MD and CEO of Yes Bank for 3 years
10. RBI introduces Internal Ombudsman mechanism for Credit Information Companies
11. Justice Dinesh Sharma to head UAPA tribunal related to the ban on PFI
12. Bank of India Mutual Funds appoints Mohit Bhatia as CEO
13. World Bank slashes India’s economic growth forecast to 6.5% for FY23
14. NABARD sanctions Rs 222 crore for strengthening school infrastructure in Punjab
15. JSW Cement secures Rs 400 cr as sustainability-linked loan from MUFG Bank

 News Details 

1. World Post Day 9 October 2022

• World Post Day is observed each year on October 9 across the world.
• This day celebrates the role of the post in people’s and businesses’ everyday lives.
• Also the day is to promote its contributions to global social and economic development.
• On February 18, 1911, the world’s first official airmail flight took place in India.
• In Independent India, the first official postal stamp was issued on November 21, 1947.
• The first stamp depicted the Indian flag with the patriots’ slogan ‘Jai Hind’.
• Theme:
  • The theme for World Post Day 2022 is ‘Post for Planet’.

2. Union Minister Dr. Mahendra Nath Pandey inaugurated ‘Conference on Industry 4.0: Challenges Ahead and Way Forward’

• Union Minister for Heavy Industries Dr. Mahendra Nath Pandey inaugurated ‘Conference on Industry 4.0: Challenges Ahead and Way Forward’, at Kevadia Gujarat.
• The Conference being organised by the Ministry of Heavy Industries aimed at sensitising industrial sectors in the country to adopt digital manufacturing processes and to promote automation and innovation in the industry.
• Industry 4.0 refers to the cyber-physical transformation of manufacturing.
• About Gujarat:
  • Capital: Gandhinagar.
  • Governor: Acharya Devvrat.
  • Chief minister: Bhupendrabhai Patel.

3. ICICI Bank launches Smart Wire, an online solution for inward remittances

• ICICI Bank has launched an online service to assist its customers in making SWIFT-based inward remittances more quickly and easily.
• The feature, known as “Smart Wire,” enables inward remittance transactions to be completed electronically for both NRIs and resident customers.
• Customers can use the “Smart Wire” service by logging into the internet banking platform.
• About ICICI Bank:
  • Headquarters: Vadodara, Gujarat.
  • CMD: Sandeep Bakhshi.

4. Hero MotoCorp’s first-ever electric scooter, Vida V1, launched in India, will run up to 165 km in a single charge

• Hero MotoCorp has taken the wraps off their new electric scooter under the sub-brand, Vida.
• The automaker launched the V1 as the first electric scooter of the brand, as it looks to catch up with newer firms who have taken the lead in the country’s clean mobility push.
• The Hero Vida V1 would be first launched in New Delhi, Jaipur and Bangalore.
• About Hero MotoCorp:
  • Chairman, MD & CEO: Pawan Munjal.
  • Founded: 1984.
  • Headquarters: New Delhi.

5. IREDA celebrates “Cyber Jaagrukta Diwas”

• Indian Renewable Energy Development Agency Ltd.
• (IREDA) observed the “Cyber Jaagrukta Diwas”, to create cybersecurity awareness among all employees.
• Cyber Jaagrukta Diwas is an initiative launched by the Ministry of Home Affairs that requires all government organizations to spread cybersecurity awareness.
• Cyber Jaagrukta Diwas is observed on the first Wednesday of every month.

6. SEBI Clarifies on Guidelines pertaining to Instruction Slip for Shares Pledging

• To curb clients’ abuse of the stockbroker’s Power of Attorney (PoA), SEBI expanded the scope of the Demat Debit and Pledge Instruction (DDPI) for pledges and repeals of securities for margin purposes.
• MF (Mutual Fund) transactions executed on stock exchange order entry platforms and tenders for the public offering of shares through SE (Stock Exchange) platforms would also be covered under DDPI.
• More information:
  • Share Pledge is a promoter shareholding in a company is used as collateral to avail a loan.
  • With the DDPI, clients can explicitly agree to authorise the stock broker and depository participant to access their beneficial owners’ account for the limited purpose.

7. Gulf Oil ropes in cricketer Smriti Mandhana as Brand Ambassador

• Indian cricket star Smriti Mandhana has signed on as a brand ambassador of lubricant manufacturer Gulf Oil India.
• She joins famous cricketers and current brand ambassadors Mahendra Singh Dhoni and Hardik Pandya to represent the organisation.
• More information:
  • Gulf Oil Lubricants India Ltd (GOLIL) is a part of the Hinduja Group.

8. Unity Bank introduces special FD scheme with lucrative interest rate, that offers 8.4% to senior citizens

• Unity Small Finance Bank Limited (Unity Bank) has launched Shagun 501, a special Fixed Deposit tenure to brighten up Dussehra and Diwali.
• For a 501 days fixed deposit, retail customers will earn an attractive return of 7.90% p.a., whereas senior citizens earn 8.40 % p.a.
• This festive offer is available only for deposits booked up to 31st October, 2022.
• Unity Bank joint venture of Centrum Financial Services and Resilient Innovations Pvt Ltd.
• About Unity Small Finance Bank Limited (Unity Bank):
  • Chairman: Vinod Rai.

9. RBI approves reappointment of Prashant Kumar as MD and CEO of Yes Bank for 3 years

• Kumar was appointed as the head of the bank after YES Bank was bailed out by a consortium of lenders and put under the YES Bank Reconstruction Scheme in March 2020.
• Prior to joining YES Bank, Kumar was Deputy MD and CFO of State Bank of India.
• More about YES Bank:
  • It is India’s fourth largest private sector Bank.
  • It was founded in 2004.
  • Headquarters: Mumbai.

10. RBI introduces Internal Ombudsman mechanism for Credit Information Companies

• The Reserve Bank of India (RBI) on October 6 introduced the Internal Ombudsman mechanism for Credit Information Companies.
• The RBI, in the ‘Statement on Developmental and Regulatory Policies’, had said it was necessary for all Credit Information Companies (CICs) to appoint an Internal Ombudsman (IO) at the apex of their internal grievance redress mechanism by April 1, 2023.
• What is a Banking Ombudsman?
  • It is a quasi judicial authority, that was created pursuant to a decision made by the Government of India to enable resolution of complaints of customers of banks relating to certain services rendered by the banks.
  • It was first introduced in India in 1995, and was revised in 2002.

11. Justice Dinesh Sharma to head UAPA tribunal related to the ban on PFI

• The Central Government has appointed Delhi High Court judge Justice Dinesh Kumar Sharma as the Presiding Officer of the Unlawful Activities (Prevention) Tribunal which will review the ban imposed on the Popular Front of India (PFI) and its affiliated organisations.
• The UAPA Tribunal consists of only one person, who has to be a High Court judge.
• About UAPA:
  • UAPA = Unlawful Activities (Prevention) Act.
  • Its main objective was to make powers available for dealing with activities directed against the integrity and sovereignty of India.
  • The most recent amendment, the Unlawful Activities (Prevention) Amendment Act, 2019 (UAPA 2019) has made it possible for the Indian Government to designate individuals as terrorists with due process of law.
  • It is also known as the Anti-terror law.

12. Bank of India Mutual Funds appoints Mohit Bhatia as CEO

• Bank of India Investment Managers Private Ltd has announced that it has appointed Mohit Bhatia as its chief executive officer.
• Bank of India Investment Managers Private Ltd is a wholly-owned subsidiary of Bank of India.
• As per industry estimates, Bank of India Mutual Fund had an average AUM of ₹3,054.36 for the July – September quarter.
• About Bank of India (BOI):
  • MD & CEO: Atanu Kumar Das.
  • Headquarters: Mumbai, India.

13. World Bank slashes India’s economic growth forecast to 6.5% for FY23

• The World Bank slashed its growth estimate for India by one percentage point to 6.5 per cent for FY23, citing the blowback of the Russia-Ukraine war and ongoing global monetary policy tightening.
• This is the lowest growth estimate by any multilateral agency for FY23.
• Reserve Bank of India pared its growth estimate for FY23 to 7 per cent from 7.2 per cent estimated earlier.
• About World Bank:
  • Headquarters: Washington, D.C., United States.
  • President: David Malpass.
  • Founded: 1944.
  • Motto: Working for a World Free of Poverty.

14. NABARD sanctions Rs 222 crore for strengthening school infrastructure in Punjab

• National Bank For Agriculture And Rural Development (NABARD) has sanctioned Rs 221.99 crore to strengthen school infrastructure in rural schools in Punjab.
• NABARD has sanctioned the money from the Rural Infrastructure Development Fund (RIDF) for the construction of 2,328 additional classrooms, 762 labs, and 648 playgrounds in rural schools in all 23 districts of Punjab.
• About NABARD:
  • Chairman: After Dr. G.R. Chintala (retired on 31 july 2022), Suchindra Mishra, Additional Secretary, DFS, Ministry of Finance, Government of India has been given additional charge of NABARD Chairman till new appointment of Chairman.
  • Headquarters: Mumbai, India.

15. JSW Cement secures Rs 400 cr as sustainability-linked loan from MUFG Bank

• JSW Cement has raised Rs 400 cr from MUFG Bank India as its first sustainability-linked loan.
• While this credit line is the first sustainability-linked loan for the company, it is also MUFG Bank India’s first transaction undertaken out of its new IFSC unit branch launched in August 2022 in the Gift City.
• More information:
  • Mitsubishi UFJ Financial Group (MUFG) is headquartered in Tokyo.
  • Parth Jindal is the Managing Director (MD) of JSW Cement.

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