Latest Current Affairs For Saturday 29th October, 2022

Dabur to acquire 51% stake in Badshah Masala for Rs 588 crore

Dabur India (FMCG firm) has announced that it will acquire 51% stake in Badshah Masala in a Rs 587.52-crore deal.

While the balance 49% of the equity share will be acquired after a period of 5 years.

With this acquisition, Dabur India aspires to expand its Foods business to Rs 500 crore in 3 years and expand into new adjacent categories.

This also marks Dabur’s entry into the over Rs 25,000-crore branded spices and seasoning market in India.

India Post Payment Bank launches group accident insurance plan

IPPB has launched a group accident insurance plan with an accidental death coverage of Rs 10 lakh.

It has been launched in partnership with TATA AIG and Bajaj Allianz General Insurance companies, will offer the insurance plan at a premium of Rs 399 or Rs 396 p.a.

The policy will be issued digitally in five minutes using a smartphone or a fingerprint sensor carried by the postman under e-KYC (Aadhaar based) method.

Age between18 and 65 years can join this insurance plan. 

Irdai sets up health insurance consultative committee

IRDAI has set up a 15-member Health Insurance Consultative Committee with an aim to achieve the goal of universalisation of health insurance in the country.

The panel has been set up for two years.

The committee will be headed by Irdai member Rakesh Joshi.

He will be responsible for identifying the challenges in carrying out the health insurance business smoothly and make recommendations to facilitate ease of doing business.

Indian Bank rolled out six digital initiatives under ‘Project WAVE’

Indian Bank has launched six new digital initiatives under ‘Project WAVE’ to enhance customer experience through integrated services on its digital platform.

The bank will provide online vehicle and health insurance through its mobile banking app IndOASIS, in association with Universal Sompo General Insurance.

Bank partnered with Rupeek Capital to offer jewel loan at doorsteps.

The bank has extended pre-approved personal loans to self-employed customers of the ba nk.

Delhi airport emerges as world's 10th busiest airport in October

As per the report of aviation analytics firm OAG, Indira Gandhi International airport (Delhi) has emerged as world’s 10th busiest airport in October 2022.

Hartsfield-Jackson Atlanta International Airport (Georgia) was the busiest in the world.

Dubai and Tokyo Haneda airports are at the 2nd and 3rd positions, respectively.

The rankings by OAG are based on scheduled airline capacity in the current month and compared to the equivalent month in 2019, pre-pandemic.

Centre approved Terai Elephant Reserve in Uttar Pradesh

The Union ministry of forest, environment and climate change (MoFECC) has given its nod to establish the Terai Elephant Reserve (TER) in Uttar Pradesh.

The area of reserve will be spread in a 3,049 sq km area, which include Dudhwa Tiger Reserve (DTR) and Pilibhit Tiger Reserve (PTR).

It will be the second elephant reserve in UP and  33rd in India.

Project Elephant: It is a centrally sponsored scheme and was launched in February 1992  for the protection of elephants.

Kerala set to become women-friendly tourism destination

Kerala govt has launched a ‘women-friendly tourism’ project named State Responsible Tourism Mission (RT Mission).

Aim: To establish women-friendly tourism centres and empower women.

The project will be implemented to ensure the participation of women from all sections of society.

Under the project, it will create a network of women’s units and tourism centres manned by women.

Training will be provided to selected women to work as tour coordinators, storytellers etc.

RBI lifts ban on new branches of Tamilnad Mercantile Bank

RBI has lifted ban of three years on Tamilnad Mercantile Bank (TMB), which had prevented the banker from opening new branches.

The restrictions was rescinded with effect from October 21, 2022.

The restriction was imposed by RBI on TMB in 2019 after the bank's shareholders decided to raise authorized share capital to Rs 500 crore.

The central bank objected to the bank not raising its subscribed capital to at least half of the authorized capital as required.

BCCI announces equal match fee for men and women cricketers

BCCI has announced the implementation of a pay equity policy for contracted Indian women cricketers, which means the the match fee for both, Men and Women Cricketers will be the same.

Test cricket match: ₹15 lakh

One Day International (ODI) match: ₹6 lakh

T20 match: ₹3 lakh

Aim: To promote gender equality in sports

Recently, the Indian women's cricket team won the Asia Cup in Bangladesh, beating the Sri Lankan.

President of BCCI: Roger Binny

Odisha CM launches first common agricultural credit portal for farmers

Odisha CM, Naveen Patnaik has launched a common credit portal SAFAL (Simplified Application for Agricultural Loans) for the welfare of farmers.

This credit facility will enable farmers and agri-entrepreneurs to access more than 300 term loan products of over 40 banks.

This portal has been integrated with Krushak Odisha and will have access to 70-plus model project reports.

It will ease the loan application process and provide benefit to farmers and banks significantly.

Veteran Assamese actor, Nipon Goswami passes away

Veteran Assamese actor, Nipon Goswami has been passed away at the age of 80.

He was an alumnus of the Film and Television Institute of India, Pune.

He was born in Tezpur, and made his acting debut as a child actor in the Assamese film 'Piyoli Phukan'.

He has started his film career as the lead actor of the Assamese movie 'Sangra.

His last Assamese film was 'Lankakanda', directed by Rajani Barman.

IMF slashed economic forecast of Asia due to slowdown in China

The International Monetary Fund (IMF) has reduced the economic forecasts of Asia to 4.0% for 2022-23 and 4.3% next year, down 0.9% point and 0.8 point from April, respectively.

Reason: Global monetary tightening; Rising inflation (due to war in Ukraine); and Sharp slowdown in China. 

The IMF has expected that the growth of China to slow to 3.2% in 2022-23.

As per the IMF, the China economy would grow to 4.4% in next year and 4.5% in 2024.

PM Modi to lay foundation stone of Gujarat military plane plant

Prime Minister, Narendra Modi will lay the foundation stone of the facility in Vadodara on 30th October 2022.

The new plant will manufacture C-295 transport aircraft that are on order by IAF under a ₹21,935 crore deal inked in 2021.

Airbus (European aviation major) and India’s TATA group will jointly manufacture at least 40 C-295 transport aircraft in India.

16 aircraft out of 56, will be delivered in flyaway condition, from Airbus, Spain by September 2023.

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023

The Tilak Smarak Mandir Trust (Hind Swaraj Sangh) would confer the prestigious Lokmanya Tilak National Award 2023 to Prime Minister Narendra Modi in Pune on August 1, 2023.

Reason: This award recognizes PM Modi's supreme leadership under which India has climbed the ladder of progress

It is presented annually on the occasion of Lokmanya Tilak's death anniversary.

Other awardees: Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh. 

J&K Bank wins award for Best Performance in CASA

Jammu & Kashmir Bank has been felicitated for the Best Performance in CASA-India (1st Runner up in Small Bank Category) at ICC Emerging Asia Banking Conclave & Awards 2022.

The event was participated by banks from India, Nepal, Bhutan, Bangladesh, Sri Lanka & Myanmar.

The function was organized by the Indian Chamber of Commerce in Goa.

Indian Chamber of Commerce (ICC) is a non-governmental trade association and advocacy group headquartered in Calcutta.

India poised to become world’s 2nd-largest economy by 2075: Goldman Sachs

According to the Investment Bank Goldman Sachs, India is poised to become the world’s second-largest economy by 2075.

As per the report, India would cross Japan, Germany, and the US With a population of 1.4 billion people.

India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection.

The labour force participation set to make India the second-largest economy in the world by 2075.

L&T and Spain's Navantia sign agreement for submarine project

L&T has signed a teaming agreement with Spanish-based Navantia for the submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

P75 (India) Submarine Project is expected to be valued at €4.8 billion.

Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines.

The first S80 class submarine was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy. 

India overtakes China as most attractive emerging market for investing

According to a study by Invesco Global Sovereign Asset Management, India has overtaken China to become the most attractive emerging market for investing in sovereign wealth funds this year.

Reason: This is due to its solid demographics, political stability, and proactive regulation. 

Positives for the nation also include the rapidly expanding demography, strong regulatory actions, and a welcoming climate for sovereign investors.

World Population Day 2023: 11 July

World Population Day is observed every year on July 11 in order to raise awareness about global population issues, including population control.

2023 theme: Unleashing the power of gender equality: Uplifting the voices of women and girls to unlock our world’s infinite possibilities. 

It was established by the United Nations Development Programme (UNDP) in 1989, after the day the world approximately reached a population of five billion, which was observed on 11 July 1987.

MoHUA conducts SBM-U 2.0 Planning & Implementation Review-cum-Workshop

The Housing Ministry organized a review-cum-workshop to evaluate and accelerate the planning and implementation of the SBM-Urban 2.0.

PM Modi launched the 2.0 versions of SBM-U and AMRUT on October 1, 2021.

SBM-U 2.0: Achieving 100% waste segregation in all households and premises and 100% door-to-door collection of segregated waste from each. 

AMRUT 2.0: To provide complete coverage of water supply to all households and sewerage and septage in 500 AMRUT cities. 

Gujarat CM launches pilot project of ‘Antyodaya Shramik Suraksha Yojana’

Gujarat CM Bhupendra Patel launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Kheda

All those registered under the e-Shram portal from Nadiad will benefit from the scheme.

It is being implemented through the Indian Postal Department, the IPPB, and the Ministry of Labour and Employment.

Under this scheme, insurance with a premium of Rs. 289 and Rs. 499 per year will be a big support to workers in the event of death or partial disability.

OCA elects Sheikh Talal as the new President

Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of the Olympic Council of Asia (OCA).

He replaced his older brother Sheikh Ahmad Al-Fahad Al-Sabah, who led the OCA for 30 years until 2021.

The OCA was founded in 1982 by his father Fahad Al-Ahmed Al-Jaber Al-Sabah, who led it until 1990.

The Olympic Council of Asia (OCA) is a governing body of sports in Asia, currently with 45 member National Olympic Committees.

Bajaj Allianz Life Insurance wins Insurer Innovation Award 2023

Bajaj Allianz Life Insurance has won the Insurer Innovation Award 2023 for the APAC region at the 8th World Digital Insurance Awards, hosted by TDI - The Digital Insurer.

Recognition: Bajaj Allianz Life's ground-breaking WhatsApp Conversational Platform - empowering customers to digitally services their policies seamlessly. 

The award entries were shortlisted by industry experts and the winner was selected by the community through pre-voting and live event voting.