National & International Appointments
1. Sanjay Malhotra appointed as new revenue secretary
- The Centre has named Sanjay Malhotra, a 1990 batch IAS officer, Rajasthan cadre, as the new revenue secretary.
- He will replace Tarun Bajaj who will retire on November 30.
- Road Transport and Highways Secretary, Aramane Giridhar has been named the new defence secretary. He will replace Ajay Kumar.
- Other appointments (Secretary):
- Ministry of Heavy Industries: Kamran Rizvi
- Department of Rural Development: Shailesh Kumar Singh
- Ministry of Corporate Affairs: Manoj Govil
Banking & Finance
2. Indus Waters Treaty: World Bank appoints chairman of Court of Arbitration
- The World Bank has appointed neutral expert and chairman of the Court of Arbitration regarding the design features of the Kishenganga (330 megawatts) and Ratle (850 megawatts) hydroelectric power plants.
- Reason: For disagreements and differences between India and Pakistan over the 1960 Indus Water Treaty (IWT).
- Michel Lino has been appointed as the Neutral Expert.
- Sean Murphy has been appointed as Chairman of the Court of Arbitration.
Sports
3. Ramita Jindal wins gold in 10 meter Air Rifle Women Junior event at ISSF
- India's Ramita Jindal has won gold in the 10-meter Air Rifle Women Junior event at ISSF World Championship Rifle/Pistol in Cairo, Egypt.
- She defeated Ying Shen from China by 16-12.
- In the 50-meter Pistol Women Junior event, India's Divanshi has won gold, Varsha Singh settled for silver and Tiyana won bronze.
- Rhythm Sangwan won a silver in the 25m Standard Pistol Women.
- India's Abhinav Choudhary has secured silver in the 50-meter Pistol Men Junior event.
Summits & Conferences
4. Global Youth Climate Summit 2022 organised in Bangladesh
- Global Youth Climate Summit 2022 has been inaugurated in Khulna, Bangladesh from October 20-22, 2022.
- Aim: To bring together 650 youth in a hybrid format with 150 youth participating in person and 500 online.
- The youth will explore how they can lead the fight against climate change.
- The mission of GYLC is to build the knowledge of youth about climate science.
- This summit was organised by the Global Youth Leadership Centre (GYLC).
- GYLC CEO: Ejaj Ahmad
Summits & Conferences
5. 14th edition of World Spice Congress to be held in Maharashtra
- The 14th edition of World Spice Congress (WSC) will be held on 16-18 February at CIDCO Exhibition and Convention Centre, Maharashtra.
- The summit will be organized by Spices Board India in association with various trade and export farmers.
- Theme: Vision 2030: SPICES (Sustainability– Productivity – Innovation – Collaboration- Excellence and Safety)
- It will be organized as a G20 event, after India takes up the presidency from Dec 2022 to Nov 2023.
Agreement
6. REC, PFC sign with STPL to finance Buxar Thermal Power Plant
- REC Limited and Power Finance Corporation Limited (PFC) have signed an MoU with SJVN Thermal Private Ltd (STPL).
- Aim: To finance the 2x660 MW coal based Buxar Thermal Power Plant (BTPP).
- The total estimated project cost is ₹12,172.74 crores, with debt requirement of ₹8520.92 crores.
- As per the agreement, the debt requirement will be financed by REC and Power Finance.
- It is a green field project designed on supercritical technology.
Banking & Finance
7. CCI imposes Rs 392 crore penalties on MakeMyTrip, Goibibo, OYO
- The Competition Commission of India (CCI) has imposed monetary penalties of more than ₹392 crore on MakeMyTrip (MMT), Goibibo, and OYO.
- Reason: For alleged unfair business practices.
- CCI imposed a fine of ₹223.48 crore on Make My Trip-Goibibo (MMT-Go) and ₹168.88 crore on OYO.
- CCI was investigating the companies since 2019 following allegations by a hotel body that MMT gave special treatment to Oyo on its platform.
- While, MMT-Go imposed price parity on hotel partners.
Banking & Finance
8. IRDAI approved ‘Bima Sugam’ portal
- Insurance Regulatory and Development Authority of India (Irdai) has recently approved the launch of Bima Sugam portal.
- It is an online marketplace, under which all insurance companies can sell life and non-life insurance on a single platform.
- The portal will be operationalised from 1 January 2023.
- Aggregators like PolicyBazaar, brokers, banks and insurance agents will act as facilitators or bridges to sell insurance policies through Bima Sugam to individuals.
Banking & Finance
9. IPPB, RBIH join hands for financial products and services
- India Post Payments Bank (IPPB) and Reserve Bank Innovation Hub (RBIH) have joined hands to enhance the reach of financial solutions to large sections of society across India.
- Under the arrangement, both will plan, design and execute innovative products to bridge the gap by bringing digitalised services at the customer's doorstep.
- RBIH, a wholly-owned subsidiary of RBI, that promotes and facilitates innovation across the financial sector.
- RBIH CEO: Rajesh Bansal
Banking & Finance
10. PM Jan Dhan account crosses ₹1.75-lakh crore mark
- As per the government data, PM Jan Dhan Yojana (PMJDY) has crossed the ₹1.75 lakh crore mark on October 5, 2022.
- The total number of beneficiaries has reached 47 crore.
- Women hold a bigger share of 26.16 crore accounts, of which the bulk 31.42 crore accounts were in rural and semi-urban areas.
- Of the total, PSBs held Rs 1.35 lakh crore, followed by Regional Rural Banks with Rs 34,573 crore.
- About 18% of total accounts are either dormant or inoperative as on June 2022.
Banking & Finance
11. RBI approves Cygnet to operate as NBFC account aggregator
- Fintech firm, Cygnet has received in-principle approval from the Reserve Bank of India (RBI) to operate as a non-banking financial company (NBFC) account aggregator.
- Account Aggregator: It is an open financing data-sharing protocols, regulated by the RBI.
- It allows consumers to instantly share their financial data with various financial institutions.
- It also facilitates financial institutions to quick access consumers' consent-based financial data.
Banking & Finance
12. Mahindra Finance partners India Post Payments Bank to enhance credit
- Mahindra and Mahindra Financial Services Ltd has partnered with India Post Payments Bank to enhance credit access to a larger customer base.
- IPPB will provide lead referral services to Mahindra Finance for passenger vehicles, three-wheeler, tractor and commercial vehicle loan categories.
- As a pilot, this scheme would launch in the IPPB branches of Maharashtra and Madhya Pradesh.
- It is expected to spread across other states over the next four-six months.
Banking & Finance
13. Finance ministry releases Rs 1,764 crore grant to four states
- The finance ministry has released Rs 1,764 crore grant to four states - Andhra Pradesh (Rs 136 crore), Chhattisgarh (Rs 109 crore), Maharashtra (Rs 799 crore) and Uttar Pradesh (Rs 720 crore).
- The govt has released the grants for Million Plus Cities/ Urban Agglomerations (MPC/UAs) of Vijayawada and Visakhapatnam in Andhra Pradesh; Durg Bhilainagar and Raipur in Chhattisgarh; Aurangabad, Greater Mumbai, Nagpur, Nashik, Pune and Vasai-Virar City in Maharashtra.
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