Daily GK Update: 28th October 2023

National Affairs

Tata Group will soon make India’s first homegrown iPhone after Wistron Corp approved the sale of an assembly plant near Bengaluru.
Union Minister Rajeev Chandrasekhar, manufacture would start within two and a half years.
The airline-to-software conglomerate has been in talks with the Taiwanese iPhone maker for more than a year to take over the plant.
Tata is also set to honour several manufacturing and hiring commitments made by Wistron as part of their agreement.

Banking & Finance

The RBI told lenders, financial institutions and credit bureaus to resolve complaints filed by customers within 30 days or pay a fine of ₹100 per day.
The RBI also directed credit institutions (CIs) and credit information companies to introduce a compensation framework for delayed updation or rectification of credit information.
They collect information from a variety of credit providers including banks, credit card companies and non-bank financial institutions.

Banking & Finance

Mobikwik's payment gateway arm Zaakpay has finally received in-principle authorisation from the RBI to operate as a payments aggregator.
Aim: To support more businesses inspires us to continuously enhance the capabilities of our platform.
The in-principle approval comes two years after the Gurugram-based payments company filed its application with the RBI.
Mobikwik had applied for the payments aggregator licence in 2021, but was rejected by the regulator.

National & International Appointments

Malaysia 's royal families have elected the powerful and wealthy ruler of southern Johor state as the country's new king under a unique rotating monarchy system.
Sultan Ibrahim Iskandar, 64, will ascend to the throne for a five-year term.
He succeeds incumbent Sultan Abdullah Sultan Ahmad Shah of central Pahang
The ruler of Johor state bordering Singapore was next in line based on a rotation order established among the country’s nine state rulers.

National Affairs

Reliance Jio Ltd announced the rollout of its JioSpaceFiber satellite broadband service, which it showcased at the India Mobile Congress as the nation's inaugural satellite-driven giga fiber service.
The satellite broadband aims to extend high-speed internet access to previously untapped regions in India.
To display its extensive reach, the Mukesh Ambani-backed telecom connected four distant locations: Gir in Gujarat, Korba in Chattisgarh, Nabrangpur in Odissa.

Schemes

Delhi government relaunched Jai Bhim Mukhyamantri Pratibha Vikas Yojana to provide free coaching to medical, engineering, and civil services aspirants.
According to Delhi SC and ST welfare minister Raaj Kumar Anand the government was going to introduce more competitive exams under the scheme for which free coaching will be provided to the eligible students.
The redesigned scheme, Anand said, was almost ready and would be placed before the Cabinet for approval.

Obituaries

Former Chinese Premier Li Keqiang has died after suffering a heart attack at the age of 68.
A reform-minded bureaucrat, Li was once tipped as the country's future leader only to be eclipsed by President Xi Jinping, under whom he served as premier for 10 years.
During his time as premier, Li cultivated an image as a more modern apparatchik compared to his stiffer colleagues.

Defense

Hindustan Aeronautics Limited signed an MoU to develop industrial cooperation in ring forging manufacturing for commercial engines with Safran Aircraft Engines
HAL will produce Leading Edge Aviation Propulsion powering Airbus A320 Neo family and Boeing 737 Max engine forgings at its foundry in Bengaluru
Safran is a long standing partner, especially in helicopter programmes, as evidenced by the joint development of the “Shakti” helicopter engine

Arts & Culture

Hornbill is one of the most-awaited festivals that celebrates the rich cultural heritage of Nagaland and is attended by thousands of curious travellers from around the world.
This year, the festival will begin from December 1 and end on December 10, 2023.
The state is famous as the 'Land of Festivals' and Hornbill is one of the grandest celebrations that is organised by the State Tourism of Arts and Culture Department, Government of Nagaland every year.

National Affairs

The Competition Commission of India (CCI) has become a part of the prestigious 18-member steering committee of the International Competition Network (ICN) after "consistent efforts".
The steering committee is the ICN's apex body.
The ICN, comprising 140 competition agencies, typically provides antitrust authorities with a specialised, yet informal, venue for maintaining regular contacts and addressing practical competition concerns.