Daily Current Affairs 29 & 30 October for Banking/Insurance/SSC and other related exams.
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Indian Navy launched 25T Bollard Pull Tug ‘Mahabali’
Indian Navy has launched 25T Bollard Pull Tug ‘Mahabali’ in Gujarat to provide support to naval ships and submarines and provide fire support to ships and conduct limited search and rescue operations. This bridge tug was unveiled by Commodore Sunil Kaushik at Bharuch, Gujarat.This Tug is proud flag bearer of “Make in India” initiative of Ministry of Defence.
- This vessel, a creation of Shoft Shipyard located in Bharuch, Gujarat, is one of three such tugs commissioned as part of a collaborative effort between the Ministry of Defence and the Shipyard.
- It has been constructed in accordance with the classification rules set forth by the Indian Register of Shipping (IRS).It is equipped to enhance firefighting capabilities for ships both alongside and at anchorage.It is also outfitted for limited Search and Rescue Operations.
Norway aid for food security in India
Norway will help fund India’s ‘Hunger Project’ and help strengthen women leaders to protect the environment and promote food security in Uttarakhand.
- The duration of the project would be three years, until September 2026 with a budget of ₹44.7 million, an official said.
- The hunger project organizes capacity-building training for elected women representatives (EWRs) and federations, focusing on strengthening van panchayats (forest councils) which in turn will ensure food security and livelihood opportunities for marginalized households.
FATF removes offshore tax haven Cayman Islands from its ‘grey list’
The Financial Action Task Force (FATF), an inter-governmental body that sets anti-money laundering standards, has removed offshore tax haven Cayman Islands from its ‘grey list’.
- Besides Cayman, Panama, Jordan, and Albania have been removed from the list, which requires jurisdictions to be placed under increased monitoring until the identified deficiencies are resolved in their framework.
- FATF has added Bulgaria in the grey list.Such steps are taken to ensure that countries strengthen their anti-money laundering (AML), counter terrorism financing (CFT) and proliferation of financing systems.
BANKING & FINANCE
Mobikwik’s Zaakpay gets in-principle nod to operate as payment aggregator
Fintech company Mobikwik’s payment gateway subsidiary, Zaakpay, has secured in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA).
- This authorization enables Zaakpay to onboard new merchants, further expanding its capabilities.
RBI Revises Bulk Deposit Limit Of Regional Rural Banks To Rs 1 Crore
The Reserve Bank of India (RBI), announced that the bulk deposit limit for Regional Rural Banks (RRBs) has been increased from Rs 15 lakh to Rs 1 crore. The decision was taken after a review of the bulk deposit limit of RRBs.
- The definition of “Bulk Deposit” varies among banks. The bulk deposit limit for scheduled commercial and small finance banks is Rs 2 crore and above. For RRBs, the limit has been increased from Rs 15 lakh to Rs 1 crore. The move is expected to provide a more level playing field for banks.
- Now, as the limit of bulk deposits of RRBs has been enhanced to Rs 1 crore, it will reduce the operational autonomy of the banks as it can only offer a single rate to all depositors of a particular tenure.
BUSINESS & ECONOMY
Reliance Jio unveils JioSpaceFiber: India’s first satellite-based gigabit broadband service for nationwide access
Reliance Jio Infocomm Ltd, India’s top carrier, 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, and ONGC in Jorhat, Assam.
- To enhance the Jio True5G’s availability, even in far-flung areas, the satellite network will also add mobile backhaul capacity. Collaborating with SES, Jio will tap into the latest medium earth orbit (MEO) satellite technology.
Tata to become 1st Indian iPhone maker as Wistron approves factory sale
The Tata Group has acquired Wistron’s operations in India, paving the way for it to manufacture and assemble Apple iPhones in India for both domestic and global markets. The announcement was made by Union Minister Rajeev Chandrasekhar.
- Wistron also announced that it held a board meeting and granted approval to its subsidiaries, SMS InfoComm (Singapore) Pte. Ltd. and Wistron Hong Kong Limited, to sign the share purchase agreement with Tata Electronics Private Limited (TEPL) for the sale of its 100 per cent indirect stake in Wistron InfoComm Manufacturing (India) Private Limited.
CCI becomes member of International Competition Network’s steering group
Competition Commission of India (CCI) said it has become a member of the steering group of the International Competition Network (ICN).The ICN comprises 140 competition agencies from 130 countries.
- CCI joins the prestigious Steering group of International Competition Network (ICN) as a member at the ICN Annual Conference 2023 at Barcelona, Spain after consistent efforts.
- This is the first time that the CCI has become a member of the ICN’s steering group and the membership is for two years.
State Bank of India ropes in cricket icon MS Dhoni as brand ambassador
The State Bank of India (SBI) has announced its collaboration with cricketing legend Mahendra Singh Dhoni as its official brand ambassador.
- Dhoni’s composure in stressful situations and ability for clear thinking and rapid decision-making make him the ideal choice to connect with SBI’s customers and stakeholders.
Nita Ambani receives USISPF’s 2023 Global Leadership Award for Philanthropy and CSR
The US-India Strategic Partnership Forum (USISPF) awarded Nita Ambani, Founder and Chairperson of Reliance Foundation, with the 2023 Global Leadership Award for Philanthropy and Corporate Social Responsibility.
- USISPF Chairman John Chambers and the Board of Directors presented the award.
- During her acceptance speech, Nita Ambani also announced the launch of a new school led by her daughter, Isha Ambani, who heads Reliance Retail.