Daily Current Affairs 19th October, 2023

Daily Current Affairs 19 October for Banking/Insurance/SSC and other related exams.

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NATIONAL NEWS

Cabinet approves ₹20,773.70 crore for 13 GW Green Energy Corridor project in Ladakh
The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi approved Green Energy Corridor Phase-II – Inter-State Transmission System for 13 gigawatt renewable energy project in Ladakh.

• The project is targeted to be completed by FY 2029-30 with an estimated cost of ₹20,773.70 crore, with central financial assistance at 40% of the project cost i.e. ₹8,309.48 crore.
• The Power Grid Corporation will be the implementing agency for the project, and will be deploying Voltage Source Converter based High Voltage Direct Current system and Extra High Voltage Alternating Current state-of-the-art technology to complete the project.

Centre approves 4% hike in dearness allowance for central govt employees
The Union Government has increased the Dearness Allowance for Central govt employees and Dearness Relief for pensioners increased by 4%.

• The DA hike will be implemented from 1, July 2023 said Union Minister Anurag Thakur on Cabinet decisions. With this increase 4 percent hike, the dearness allowance will be increased from 42 percent to 46 percent. The decision will benefit 48.67 lakh central government employees and 67.95 lakh pensioners.
• The release of the additional instalment of dearness allowance and dearness relief will be applicable from July 01, 2023. 

Centre raises minimum support prices for Rabi crops
The Cabinet Committee on Economic Affairs (CCEA) has increased the Minimum Support Prices (MSP) for all Rabi crops for the finanicial year 2024-25. The increase for wheat, the major Rabi crop, is ₹150 per quintal and the new price will be ₹2,275.

• The highest increase in MSP compared with last year is for lentils (masur) at ₹425 per quintal (new price: ₹6,425 per quintal) followed by rapeseed and mustard at ₹200 per quintal (new MSP: ₹5,650 per quintal). For wheat and safflower, the increase is ₹150 per quintal (₹2,275 and ₹5,800 per quintal, respectively). For barley (new MSP: ₹1,850) and gram (new MSP: ₹5,440), the increase is ₹115 and ₹105 per quintal, respectively.
• Separately, the Centre also announced the final estimated production of major crops during 2022-23. Rice production is estimated at 1,357.55 lakh tonnes, wheat at 1,105.54 lakh tonnes, nutri and coarse cereals at 573.19 lakh tonnes, maize at 380.85 lakh tonnes and pulses at 260.58 lakh tonnes.
• Oilseeds production could touch 413.55 lakh tonnes, while sugarcane output could reach 4,905.33 lakh tonnes. Cotton is estimated at 336.60 lakh bales of 170 kg each and jute at 93.92 lakh bales of 180 kg each.

BANKING & FINANCE

On Founder’s Day, Federal Bank launches ‘Mookkannoor Mission’ under Swachh Bharat Abhiyan
Seeking to mark the 106th birth anniversary of its founder K P Hormis, Federal Bank has launched “Mookkannoor Mission“, an initiative under the Swachh Bharat Abhiyan, in Kerala. Mookkannoor, a village in Ernakulam district, is the birthplace of Hormis.

• Under the initiative, the bank has adopted Mookkannoor village to implement a comprehensive programme including digitisation of the entire hamlet, a cleanliness drive comprising waste management, tree plantation, community development, renewable energy projects and so on in a phased manner.

BUSINESS & ECONOMY

Qualcomm, Google partner to make RISC-V chip for wearable devices 
Chip designer Qualcomm (QCOM.O) said it is partnering with Alphabet’s (GOOGL.O) Google to make wearable devices like smartwatches using chips based on RISC-V technology.

• RISC-V, pronounced as “risk five,” is an open-source technology that competes with costly proprietary technology from British chip designer Arm Holdings (O9Ty.F).
• RISC-V can be used as a key ingredient for anything from a smartphone chip to advanced processors for artificial intelligence.

Tata Group’s Air India Express to introduce 50 new B737 MAX planes in 15 months
Air India Express, which is merging with AIX Connect, wants to induct 50 new B737 MAX planes in the next 15 months as the Tata Group expands its aviation business.

• Furthermore, on October 18, the combined entity of Air India Express, the country’s first international budget carrier, and AIX Connect, formerly known as AirAsia India, will introduce its new brand.
• The combined entity now operates 56 aircraft, comprising 26 B737, 2 B737 MAX, 5 A320 neo and 23 A320.

APPOINTMENTS

Sanjay Kulshreshtha named as new Chairman and Managing Director of HUDCO
Sanjay Kulshrestha has joined as the Chairman & MD of HUDCO. He is an Electrical Engineer with over 32 years of experience in Infrastructure Financing.

• For the first 15 years, he has been working in the areas of large power project execution, operation and maintenance of voltage sub-stations and transmission lines. He has worked with State Corporations & Pvt Sector Institutions. Before joining HUDCO, he was working in REC for the past 17 years in the areas in power sector financing.

President Murmu appoints new governors for Odisha, Tripura
President Droupadi Murmu has appointed Raghubar Das as Governor of Odisha, and Indra Sena Reddy Nallu as Governor of Tripura.

• Raghubar Das has been appointed as the 26th governor of Odisha.Das is a former Chief Minister of Jharkhand, belonging to the Bharatiya Janata Party (BJP).He has also served as the president of the Jharkhand BJP twice.At present, Ganeshi Lal is serving as the 25th Governor of Odisha.
• Indra Sena Reddy Nallu is a national secretary of the BJP and has thrice served as an MLA in Andhra Pradesh.Currently, Satyadev Narayan Arya is serving as the 19th governor of Tripura

MEA spokesperson Arindam Bagchi appointed India’s ambassador to UN in Geneva
The Ministry of External Affairs (MEA) announced the appointment of career diplomat Arindam Bagchi as India’s next permanent representative to the United Nations and related global bodies in Geneva. The exact date when he would assume the charge was not disclosed, but the ministry noted that he would take over the assignment “shortly”.

• Bagchi would be succeeding Indra Mani Pandey, the incumbent Indian envoy to the UN in Geneva. He was given the key charge in July 2020, and is now set to return to New Delhi after a three-year stint.

SCIENCE & TECHNOLOGY 

Tamil Nadu’s AI-Based early warning system to protect Elephants from Train Accidents
The artificial intelligence (AI)-based monitoring system to avoid elephants getting hit by moving trains on railway tracks passing through forests in Coimbatore district will be ready in a month.

• Out of the 12 e-surveillance towers that are required for the project, which is being implemented in Madukkarai forest of the Coimbatore Forest Division, works of five have been completed, according to the officials.
• The 12 towers required for the AI-based early warning system are coming up on ‘A’ and ‘B’ railway lines that pass through Solakkarai reserve forest of Madukkarai range.

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