Daily Current Affairs 21 October for Banking/Insurance/SSC and other related exams.
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PM Modi inaugurates ‘Namo Bharat’, India’s 1st Regional Rapid Train Service
Prime Minister Narendra Modi inaugurated the priority section of Delhi-Ghaziabad-Meerut Regional Rapid Transit System (RRTS) Corridor and flagged off NaMo Bharat (earlier name RapidX) train connecting Sahibabad to Duhai Depot.
- The 17-km priority section of the Delhi-Ghaziabad-Meerut RRTS Corridor is scheduled to be opened for passengers. The foundation stone for Delhi-Ghaziabad-Meerut corridor was laid by the Prime Minister on March 8, 2019.
- A total of eight RRTS corridors have been identified to be to be developed in NCR, out of which three corridors have been prioritised to be implemented in Phase-I including Delhi – Ghaziabad – Meerut Corridor, Delhi – Gurugram – SNB – Alwar Corridor, and Delhi – Panipat Corridor.
Assam CM inaugurates state’s second longest flyover in Guwahati
Assam Chief Minister Himanta Biswa Sarma inaugurated Assam’s second Longest, Shraddhanjali flyover in Guwahati, which was completed in just 60 days with a budget of Rs 316 crore.
- The 2.28-km long Shraddhanjali Flyover, completed in 19 months, has been named after Shraddhanjali Kanan, a park located in front of the Assam State Zoo cum Botanical Garden on RG Baruah Road. The flyover will be a lifeline for people visiting the state zoo and Janata Bhawan as the flyover will reduce travel time at least by 50%.
BANKING & FINANCE
RBI initiates pilot run to test e-rupee for inter-bank borrowing
The Reserve Bank of India (RBI) initiated a pilot program for the wholesale segment of its central bank digital currency (CBDC) in the interbank call money market, according to dealers from participating banks.
- Dealers said nine banks, including four public sector banks and five private sector banks, are participating in the e-rupee call money pilot. This is the second use case of testing wholesale CBDC, the first being the government securities market introduced in November last year.
- The operational process for the e-rupee pilot remains the same, except for the settlement, which will now be carried out using the CBDC instead of the real-time gross settlement used in trades on the Clearing Corp of India Limited (CCIL).
BUSINESS & ECONOMY
Google India launches ‘DigiKavach’ to combat online financial fraud
Tech giant Google has taken a proactive step to address the growing concern of online financial frauds in India.
- Through its new program, DigiKavach, Google aims to combat these fraudulent activities by understanding the strategies employed by scammers and implementing countermeasures.
- Besides, the company will also share these insights with experts and its partners to create a safer and more secure digital ecosystem, protect people from scams, malware, and online fraud.
IRCTC ties up with Zomato for delivery of preordered meals
The Indian Railway Catering and Tourism Corporation Ltd (IRCTC) has partnered with Zomato to offer a broader array of food options for rail travelers through its E-Catering segment.
- As part of this collaboration, IRCTC has initiated a Proof of Concept (PoC) at five prominent railway stations: New Delhi, Prayagraj, Kanpur, Lucknow, and Varanasi. Under this PoC, passengers can conveniently order and receive preordered meals via the IRCTC E-Catering portal with the assistance of Zomato.
ACQUISITIONS & MERGERS
Kotak Bank gets RBI nod for acquisition of microlender Sonata Finance
Kotak Mahindra Bank said the Reserve Bank has given approval for its Rs 537-crore acquisition of microlender Sonata Finance.The city-based private lender had on February 10 this year announced its intent to acquire Sonata.
- The RBI has allowed Kotak to make Sonata as its business correspondent subsidiary and the entity will now be a wholly-owned subsidiary of Kotak Mahindra Bank, it added. In February, Kotak had said Sonata had Rs 1,903 crore of assets under management.
Formula E will return to India with the Hyderabad E-Prix in 2024
The Hyderabad EPrix Formula E race will return for a second edition next year, which will be held on February 10, 2024.
- After a period of uncertainty regarding the future of the race, the Federation Internationale de l’Automobile (FIA) and Formula E confirmed Hyderabad’s slot in the final calendar for the tenth season of Formula E, which will have 16 rounds.
HP appoints Ipsita Dasgupta as India region MD
Personal computers maker HP has appointed former Apple executive Ipsita Dasgupta as managing director and senior vice president for India, Bangladesh, and Sri Lankan markets, effective 30 October.
- She will report to David McQuarrie, HP chief commercial officer. Gurpreet Singh Brar, who was officiating as interim India MD since November last year, will move to a new role of the vice-president, innovation and growth for HP’s India market.
Jina Mahsa Amini wins EU’s Sakharov Prize
The European Union parliament awarded its annual Sakharov Prize for Freedom of Thought to Iranian woman Mahsa Amini who died in police custody last year and the “Woman, Life, Freedom” movement in Iran, it said.
- Her death sparked protests that presented the most serious challenge to the Iranian authorities in decades.
- Ms Amini and the Iranian “Woman, Life, Freedom” movement join a distinguished list of previous winners, including Pakistani campaigner Malala Yousafzai and South Africa’s Nelson Mandela.
- The award comes with a €50,000 (£43,500; $53,000) endowment, which will be presented in a European Parliament ceremony in December.
SCIENCE & TECHNOLOGY
Japan becomes 1st country ever to fire Electromagnetic Railgun from an Offshore Vessel
Japan has successfully test-fired a medium-caliber maritime electromagnetic railgun from an offshore platform as it continues to advance its defenses in the face of burgeoning regional security threats.
- On October 17, ATLA announced the successful testing, claiming that this was the first time any nation had achieved such a feat since maritime railguns are obviously mounted on ships. Japan hopes to use the railgun on land and at sea. Thus, the test would be a significant advancement for this novel technology.