Daily GK Update: 28th October 2022

By Neha Bisarya|Updated : October 28th, 2022

 Defense

1. PM Modi to lay foundation stone of Gujarat military plane plant

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  • 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.
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 Banking & Finance

2. IMF slashed economic forecast of Asia due to slowdown in China

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  • 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.
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 Obituaries

3. Veteran Assamese actor, Nipon Goswami passes away

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  • 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.
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 Banking & Finance

4. Odisha CM launches first common agricultural credit portal for farmers

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  • 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.
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 Sports

5. BCCI announces equal match fee for men and women cricketers

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  • 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
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 Banking & Finance

6. RBI lifts ban on new branches of Tamilnad Mercantile Bank

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  • 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.
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 State Affairs

7. Kerala set to become women-friendly tourism destination

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  • 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.
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 State Affairs

8. Centre approved Terai Elephant Reserve in Uttar Pradesh

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  • 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.
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 National & International Organizations

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

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  • 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.
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 Banking & Finance

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

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  • 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 bank.
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 Banking & Finance

11. Irdai sets up health insurance consultative committee

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  • 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.
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 Banking & Finance

12. India Post Payment Bank launches group accident insurance plan

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  • 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
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 Banking & Finance

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

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  • 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.
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Daily GK Update: 28th October 2022

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