DAILY CURRENT AFFAIRS –

OCTOBER 20, 2022

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Table of Contents
NATIONAL NEWS ..................................................................................................................................... 2
STATE NEWS ............................................................................................................................................ 2
AGRICULTURE AND RURAL DEVELOPMENT .............................................................................................. 3
DEFENCE NEWS ........................................................................................................................................ 3
REPORTS AND INDICES ............................................................................................................................. 4
BANKING AND ECONOMY ........................................................................................................................ 5
APPOINTMENTS ....................................................................................................................................... 6
AWARDS .................................................................................................................................................. 8
MISCELLANEOUS ...................................................................................................................................... 8

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NATIONAL NEWS
1. The Central government has created exclusive benches to deal with cases above ₹100 crore
at Debts Recovery Tribunals (DRTs) in Chennai, Mumbai and Delhi to get more focus on
high-value cases.
• At present, 39 Debts Recovery Tribunals (DRTs) and 5 Debts Recovery Appellate
Tribunals (DRATs) are functioning across the country.

2. Central Record Keeping Agencies (CRAs) of the Pension Fund Regulatory and
Development Authority (PFRDA) have become Digi Locker Partner Organizations to
provide Subscriber Centric Online Services.

3. Union Minister of State for Electronics & Information Technology and Skill Development &
Entrepreneurship, Shri Rajeev Chandrasekhar has flagged off India’s first SemiconIndia
FutureDesign roadshow in Gandhinagar, Gujarat.
• Gujarati Industrialists & HNIs have pledged Rs 1500 Crore for catalysing the Gujarat’s
startup ecosystem.

STATE NEWS
1. Assam celebrated the Kati Bihu festival. The festival is also known as Kongali Bihu.
• Bihu is the most important festival of Assam. It is celebrated three times.
• Rongali' or 'Bohag Bihu' is observed in April, 'Kongali' or 'Kati Bihu' is observed in October,
and 'Bhogali' or 'Magh Bihu' is observed in January.

2. Madhya Pradesh Wildlife Board has approved a new tiger reserve named Durgavati Tiger
Reserve.
• This new reserve will be home for the tigers of Panna Tiger Reserve (PTR), one-fourth of
which will get submerged due to the linking of the Ken-Betwa rivers.
• It will be the fourth tiger reserve of Uttar Pradesh.
• At present, a total of 56 tiger reserves are there in India (including Durgavati).
• New Tiger Reserves of 2022 - Guru Ghasidas National Park and Tamor Pingla Wildlife
Sanctuary (Chhattisgarh); Sunabeda (Odisha), and Male Mahedeshwara Hills (Karnataka)

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3. Tech Mahindra has signed an MOU with the Gujarat government to build cutting-edge digital
engineering services in the state to provide employment to the people.
• UAE-based billionaire Yussuf Ali's Lulu Group International will set up India’s biggest
shopping mall at Ahmedabad at a cost of Rs 3000 crores.

AGRICULTURE AND RURAL DEVELOPMENT

1. Central Govt has increased the Minimum Support Price for six rabi crops, which are lentil
(Masur), wheat, barley, gram, rapeseed/mustard and safflower for the 2023-24 marketing
season.

DEFENCE NEWS
1. The Rosoboronexport (Aerospace and defense company of Russia) will offer its Sprut-SDM1
Light Amphibious Combat Vehicle to Indian Army.
• The Indian Army has recently started Project Zorawar to procure lightweight tanks to
enable faster mobilization and deployment in high-altitude conflict zones.
• At present, Indian Army has heavy tanks like T-72 and T-90.
• The Sprut can be transferred by military cargo planes, landing ships, or by parachuting with
a crew. The tank has a range of 500 kilometres without refuelling.

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2. 12th edition of the biennial DefExpo is organized at Ahmedabad and Gandhinagar, Gujarat
on the theme of ‘Path to Pride’.
• For the first time, states and union territories will be setting up pavilions during the event.
• At the exhibition, the 2nd edition of the India-Africa Defence Dialogue will be organized,
which will witness the participation of defence ministers of various African countries.

3. BrahMos Aerospace has signed its first export deal of $375 million with the Philippines for
the sale of BrahMos nuclear capable supersonic cruise missiles.
• BrahMos’s export potential is worth $5 billion by 2025.
• BrahMos is a joint venture between India (50.5% stake) and Russia (49.5% stake).

REPORTS AND INDICES

1. Bengaluru-based think-tank Public Affairs Centre (PAC) has released the 7th edition of the
Public Affairs Index in 2022.
• The states are divided into large (18 states) and small (10 states) categories. UTs were
not counted in this index.
• Parameters - social, economic, and political justice
Category Rank States
1st Haryana (score 0.6948)
2nd Tamil Nadu
3rd Kerala
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Large State 6th Karnataka (score 0.6216)

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16th Maharashtra
17th West Bengal
18th Jharkhand
1st Sikkim (score of 0.5715)
Small State 2nd Himachal Pradesh
3rd Uttarakhand

BANKING AND ECONOMY

1. According to IMF’s World Economic Outlook report, India is likely to become the third-
biggest economy behind the US and China by FY28, two years earlier than initially expected.
• India will overtake Germany and Japan.
• India will overtake the UK this year to become the 5th biggest economy.

2. SBI General Insurance has partnered with Gupshup, a leader in conversational engagement,
to offer a new insurance policy, renew an existing one, intimate claims and more, through
WhatsApp.

3. Mahindra & Mahindra Financial Services has partnered with India Post Payments Bank
(IPPB) to further enhance credit access to a larger customer base.
• As a part of this alliance, India Post Payments Bank (IPPB) will provide cash EMI deposit
facility to existing MMFSL Customers at Post Offices.

4. Life Insurance Corporation of India has launched Dhan Varsha, a new life insurance plan.
• LIC’s Dhan Varsha is a non-linked, non-participating, individual, savings, single premium
life insurance plan which offers a combination of protection and savings.
• Sum Assured on Death” for both options is defined as under:
o Option 1: 1.25 times of Tabular Premium for the chosen Basic Sum Assured

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o Option 2: 10 times of Tabular Premium for the chosen Basic Sum Assured

5. Karnataka Bank has launched a term deposit scheme -- ‘KBL Centenary Deposit Scheme’ -
- with effect from October 17.
• This deposit will be for a period of 555 days with an interest rate of 7.20%. The rate of
interest will be 7.60% for senior citizens.

6. Union Minister of Road Transport and Highways, Nitin Gadkari, has announced that
National Highways Infra Trust (NHAI InvIT) bonds will provide a return of 8.05% each year.
• Launched in 2019, the National Highways Infra Trust is an infrastructure investment trust,
which aims to provide funding for the government’s National Monetisation Pipeline.
• It was established under the Indian Trusts Act of 1882, and the SEBI (Security and
Exchange Board of India) regulations.
• The Trust aims to raise an additional investment of Rs 3,800 crore through bonds, which
will be listed on BSE and NSE platforms.

7. Adani Group has agreed to acquire Air Works, one of India’s major centres for the
maintenance, repair and overhaul (MRO) of aircraft, for Rs 400 crores to expand its presence
in the aviation business.

APPOINTMENTS
1. Yubi (formerly CredAvenue), a fintech platform, has appointed Atanu Chakraborty as its
Chairman.
• Chakraborty is also currently the chairman of the board of HDFC Bank.

2. GlaxoSmithKline Pharmaceuticals (GSK India) has appointed Bhushan Akshikar as its MD

for a period of four years starting from December 1, 2022.

3. Conservative leader Ulf Kristersson (from Moderate Party) has become Sweden’s Prime
Minister.
• He is backed by the far-right Swedish Democrats.

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4. Roger Binny has been appointed as the 36th President of the Board of Control for Cricket
in India (BCCI) by replacing Sourav Ganguly.
• BCCI was established in 1928. It is based in Mumbai.

5. Software services exporter Cognizant has appointed former Infosys president Ravi Kumar as
the President of Cognizant Americas.

6. Arun Bansal has been appointed as the chief executive officer of Adani Airport Holdings
Ltd, an arm of Adani Enterprises Ltd.

7. Sushil Wadhwani, an Indian-origin investment expert, is among four financial specialists

appointed to the UK Economic Advisory Council by UK Chancellor Jeremy Hunt to act as
a consultative forum to the government.

8. World Bank has appointed Michel Lino as the Neutral Expert and Sean Murphy as the
Chairman of the Court of Arbitration for resolving the disputes of India and Pakistan on the
Indus Water Treaty (1960).
• World Bank is a signatory of this treaty. The treaty facilitates information sharing
regarding the rivers.
• India and Pakistan are at loggerheads over the sharing of the technical design features of
Kishenganga and Ratle hydroelectric power plants.
• Kishanganga Power station is located on Kishanganga River, a tributary of river Jhelum in
Bandipora District of Union Territory of Jammu & Kashmir.
• Ratle Hydroelectric Project is being developed on the Chenab River in J&K.

Water Sharing under the Treaty -

• Under the Indus Water Treaty (IWT), all the waters of the eastern rivers—Sutlej, Beas, and
Ravi—amounting to around 33 million acres feet (MAF) annually is allocated to India for
unrestricted use.
• The waters of western rivers—Indus, Jhelum, and Chenab—amounting to around 135 MAF
annually have been assigned largely to Pakistan.

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AWARDS
1. Ballon d’Or 2022 awards –
Category Winner
Men’s Ballon d'Or Karim Benzema (France, Real Madrid)
Women's Ballon d'Or Alexia Putellas (Spain, FC Barcelona)
Yashin Trophy Thibaut Courtois (Belgium, Real Madrid)
Kopa Trophy Gavi (Spain, FC Barcelona)
Gerd Müller award Robert Lewandowski (Poland, Bayern
Munich/FC Barcelona)
Socrates Prize Sadio Mané (Senegal, Liverpool/Bayern
Munich)
Club of the Year Manchester City (England)

2. Shehan Karunatilaka has won the Booker Prize 2022 for his “The Seven Moons of Maali
Almeida” novel.
• He is the 2nd Sri Lankan to win this prize. Michael Ondaatje was the first Sri Lankan to win
the prize for “The English Patient” in 1992.

MISCELLANEOUS
1. IRS officer Sahil Seth has launched his book ‘A confused mind story’.
• The first copy of this book is presented to Union Health Minister Mansukh Mandaviya.

2. Recently, a specie of beetle has been named after tennis player Novak Djokovic by Serbian
scientists.

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