Daily GK Update: 25th October 2023

National Affairs

India will become the world’s third-largest economy, overtaking Germany and Japan, by 2030 on the strength of its youthful demographic profile and rapidly rising urban household incomes.
India's gross domestic product (GDP) is expected to grow 6.2-6.3 per cent in the fiscal year ending in March 2024, being the fastest-growing major economy this fiscal year.
Asia's third-largest economy grew by a stellar 7.8 per cent in the April-June quarter.

Banking & Finance

HDFC Bank has introduced XpressWay, a digital platform that offers various banking products and services, providing customers with a swift and convenient banking experience.
Aim: To provide a fast, seamless, paperless, and self-service experience for new and existing customers.
About XpressWay
It offers a range of services, including Xpress Personal Loan, Xpress Business Loans, Xpress Car Loan, Xpress Loan on cards, Xpress Credit Card, Xpress Savings Accounts.

Banking & Finance

RBI has taken regulatory action against Larsen & Toubro Finance Limited by imposing a monetary penalty of ₹2.50 crore
The NBFC did not disclose to its retail borrowers, the gradation of risk and rationale for charging different interest rates to different categories of borrowers in the sanction letter
Penalty is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction by the company with its customers.

Science & Technology

Space start-up Skyroot Aerospace unveiled its indigenously built Vikram-1 rocket which is expected to deliver satellites to low earth orbit early 2024.
Science and Technology Minister Jitendra Singh also inaugurated 'The MAX-Q Campus', the new headquarters of the start-up at the GMR Aerospace and Industrial Park at Mamidipally in South Hyderabad.
Vikram-1 is a multi-stage launch vehicle with a capacity to place around 300 kg of payloads in Low Earth Orbit.

Defense

Joint bilateral training exercise “Exercise Harimau Shakti 2023”, between Indian & Malaysian Army commenced in Umroi Cantonment.
The Malaysian Army contingent comprises troops from 5th Royal Battalion of Malaysian Army.
The Indian contingent is being represented by a Battalion of THE RAJPUT REGIMENT.
Ex is scheduled till 5th November 2023, aimed at enhancing military capability for conduct of Multi Domain Operations in a sub conventional scenario.

Obituaries

Well-acclaimed academician, musician and lyricist Dr Birendra Nath Dutta passed away at the age of 90 years.
One of the experts of the research and education in the folklore sector of the State, and the entire north-eastern region, he was a source of inspiration as well as knowledge.
He recognized with the prestigious Padma Shri award in the field of ‘Literature and Education’ in 2009, and the Jagaddhatri Harmohan Das Sahitya Puraskar in 2010.

State Affairs

The Rajasthan government launched the ‘iStart Talent Connect Portal’ at Jaipur’s Techno Hub to boost employment opportunities in the state,
Aim: To serve as a user-friendly platform for both job providers and job seekers.
The platform, launched in collaboration with Jaipur-based startup Hyrefox, not only allows companies to discover potential talent but also lets them post job openings and connect with their future employees

State Affairs

The government of Uttar Pradesh has established the Urban Road Infrastructure Development Agency (URIDA).
The government granted approval for the implementation of the CM Green Road Infrastructure Development Scheme (Urban), which boasts a substantial budget of Rs 500 crore.
Aim: To enhance the visual and functional aspects of urban roadways while also shouldering the responsibility of overseeing, financing, and supervising road development within municipalities.

National Affairs

Sri Lanka waived the visa fees for Indians and tourists from six other countries, as part of its efforts to boost tourist arrivals and help rebuild the island nation’s battered economy following 2022 financial crash.
The Cabinet announced implementation of a pilot project to issue free tourist visas to tourists from China, India, Russia, Thailand, Indonesia, Malaysia, and Japan until March 31, 2024.
India has remained Sri Lanka’s top source market for many years.

National & International Organizations

Mumbai became the second most polluted city among 109 places tracked by IQAir, a Swiss technology company measuring air quality in real-time.
The top 5 Cities in the world are:

The air quality index (AQI) score is based on the US system where a score of between 0-50 is good, 51-100 is moderate, 101-150 is unhealthy for sensitive groups, 151-200 is unhealthy, 201-300 is very unhealthy and >301 is hazardous.