Current Affairs Today 17th October 2024 Daily GK Update

Daily Current Affairs 17th October 2024 Daily GK Update

Current Affairs Quiz 2024, Daily gk updates and Current affairs play a major role in any competitive exam. so here we are providing the current affairs quiz on a daily basis for Bank, SSC, Railway and Other Government Competitive Examinations.

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National News

India and Colombia sign Audio-Visual Co-Production Agreement to boost film co-production and cultural ties

• India and Columbia have signed the Audio-Visual Co-Production Agreement which will enable Indian and Colombian film producers to utilize a platform for collaboration on various facets of film making.
• The agreement is expected to deepen the engagement between the critical sectors of the film industries of both countries thereby, unfolding a new chapter of collaboration.
• Colombia – 17th Country to sign Audio Visual co-production Agreement with India. Earlier, the GoI had signed similar agreements with the Government of Italian Republic and Government of United Kingdom of Great Britain and Northern Ireland in 2005, Federal Republic of Germany in 2007, Government of the Federative Republic of Brazil in 2007.
• India has also signed this agreements with Republic of France in 2010, Republic of New Zealand in 2011, Republic of Poland and Republic of Spain in 2012. More recent agreements were signed with Canada and China in 2014, Republic of Korea in 2015, Bangladesh in 2016, Portugal in 2017, Israel in 2018, Russia in 2019 and Australia in 2023.

BEML wins Rs 866.87 crore contract to build ‘Made in India’ bullet trains

• State-owned BEML has been awarded a contract of Rs 867 crore for designing, manufacturing, and commissioning two high-speed train sets, marking the first time that such work will be done indigenously.
• The contract was awarded by Integral Coach Factory (ICF), Chennai.
• The price of each car is Rs 27.86 crore and the total contract value is Rs 866.87 core which includes design cost, one-time development cost, non-recurring charges, one time cost towards jigs, fixtures, tooling and testing facilities, which will be utilised for all future high-speed projects in India.
• This project marks a significant milestone in India’s high-speed rail journey and will see the first indigenously designed and manufactured train sets with a test speed of 280 kmph
• The sets will be built at BEML’s Bengaluru rail coach complex and are scheduled for delivery by the end of 2026.

Jyotiraditya Scindia Inaugurates International 6G Symposium

• Minister of Communications and Development of the North Eastern Region, Jyotiraditya M. Scindia has inaugurated the International 6G Symposium at the sidelines of ITU-WTSA24 and IMC 24.
• The Bharat 6G Alliance is a collaborative initiative of Indian industry, academia, national research institutions, and standards organizations.
• The event, organized by the Bharat 6G Alliance, marks a crucial milestone in India’s journey towards global leadership in 6G technology.
• It brings together various stakeholders to foster innovation, standardization, and research in the field of 6G telecommunications and to contribute to global 6G standards through bodies like the ITU and 3GPP (Third Generation Partnership Project).
• The Bharat 6G Alliance(B6GA) signed various MoUs with global collaborators, NGMN Alliance (Next Generation Mobile Network Alliance), 5G ACIA (5G Alliance for Connected Industries and Automation), Germany, UKI-FIN (UK- India Future Networks Initiative) & UK TIN (UK Telecom Innovations Networks), 6G Forum (South Korea), 6G Brasil (Brazil).
• B6GA has already forged alliance with NextG Alliance of ATIS USA, 6G Smart Networks and Services Industry Association (6G IA), European Council, and 6G Flagship- Oulu University.

About WTSA 2024

• WTSA 2024, organized by the International Telecommunication Union (ITU), serves as a platform for the development and implementation of global telecommunications standards etc.

International News

Abu Dhabi World’s Richest In Terms Of Sovereign Wealth Funds

• As of October 2024, Global SWF has crowned Abu Dhabi with the title of the world’s richest country, in terms of its sovereign wealth funds.
• The country is estimated to boast a staggering $1.7 trillion in capital, followed closely by Oslo (home of the world’s largest SWF, NBIM), Beijing, Singapore, Riyadh and Hong Kong.
• Collectively, these six cities account for two-thirds of the capital managed by sovereign wealth funds worldwide, totalling $12.5 trillion as of October 1, 2024.

About Sovereign Wealth Funds

• Sovereign Wealth Funds (SWFs) are state-owned investment funds or entities that manage a country’s reserves for various purposes, including stabilization of the economy, saving for future generations, and funding social programs.
• SWFs are typically funded by government surpluses, foreign currency reserves, natural resource revenues (like oil and gas), or proceeds from privatizations.
• The primary goals of SWFs include achieving long-term capital appreciation, diversification of national revenue sources, and stabilization of the national economy against market fluctuations.

Types of SWF-

• Stabilization Funds- Used to counteract economic volatility.
• Savings Funds- Aimed at preserving wealth for future generations.
• Development Funds- Focused on funding national development projects

Banking and Financial

CCI approves the proposed acquisition of 24.91% shareholding in Future Generali India Insurance by Central Bank of India

• Competition Commission of India (CCI) has approved the proposed acquisition of 24.91% shareholding in Future Generali India Insurance and 25.18% shareholding in Future Generali India Life Insurance by Central Bank of India.
• Proposed combination envisages acquisition by Central Bank of India of 24.91%equity stake in Future Generali India Insurance Company Limited (FGIICL) and 25.18%equity stake in Future Generali India Life Insurance Company Limited (FGILICL) through bid/resolution plan submitted by Central bank of India under Insolvency and Bankruptcy Board of India (Insolvency Resolution 2016.

Aditya Birla Housing Finance partners BharatPe to revolutionise secured lending

• A wholly-owned subsidiary of Aditya Birla Capital Ltd, Aditya Birla Housing Finance (ABHFL) has entered into a strategic partnership with BharatPe, a fintech company, to facilitate access to home loans and loan against property for latter’s merchant partners.
• ABHFL is the first housing finance company to partner with BharatPe, offering streamlined access to secured lending through advanced digital solutions, significantly enhancing the user experience.
• This collaboration enables ABHFL to offer Home Loans (HL) and Loans Against Property (LAP) to over 1. 3 crore merchants of BharatPe across 450+ cities.
• CEO of Bharat Pe – Nalin Negi
• MD & CEO of ABHFL – Pankaj Gadgil

URGO Capital secures financing facility of USD 40 million from DFC

• United States International Development Finance Corporation (DFC) has committed USD 40 million (approx Rs 330 crore) loan with UGRO Capital to bridge the credit gap in the MSME sector.
• This investment marks a critical step in UGRO Capital’s journey to empower small businesses at the grassroots level and deepen financial inclusion across the country.
• This financing facility from DFC will mark the third impact deal for UGRO within a year.
• DFC’s support will enable UGRO Capital to bolster its lending efforts to small and mediumsized businesses across India, with a focus on empowering women-owned enterprises.

Magma HDI launches ‘Double Suraksha’: Affordable Insurance for Every Income Group

• Magma HDI General Insurance provides ‘Double Suraksha,’ a comprehensive insurance solution tailored to the demands of people with diverse financial backgrounds.
• Whether for individuals who cannot afford complete health policies due to high costs, or for the wealthy wanting additional coverage for unexplained expenses while hospitalised, ‘Double Suraksha’ gives a fixed daily cash reward.
• This gives policyholders the financial freedom to use the payout for medical or non-medical expenses associated to hospitalisation, depending on their specific needs.

Appointment

Acko appoints Sandip Goenka as CEO of Acko Life

• Bengaluru-based insurtech firm Acko has appointed Sandip Goenka the chief executive officer of its recently launched life insurance business.
• As a founding member of Acko Life, Goenka has played a key role in establishing the D2C life insurance business.
• Founded in 2016, ACKO has expanded its offerings beyond life insurance to include vehicle, health, and travel insurance, serving over 78 million unique customers and issuing more than 1 billion policies.

Rashmika Mandanna appointed national ambassador for cyber safety

• Actor Rashmika Mandanna has been appointed the National Ambassador for Promoting Cyber Safety by the Indian Cybercrime Coordination Centre (I4C) under the Ministry of Home Affairs.
• The Animal actor will spearhead a nationwide campaign aimed at raising awareness about cyber threats and promoting online safety.
• As the ambassador, Rashmika will spearhead nationwide cyber awareness campaigns designed to inform the public about cyber crimes including deepfake technology, malicious AI-created content, cyberbullying, financial frauds, and other online scams.

Recent Brand Ambassador

• Rahul Dravid – Shriram Finance Ltd,
• Manu Bhaker – Ministry of Ports, Shipping and Waterways (MoPSW)
• Alia Bhatt – French cosmetic maker L’Oreal Paris
• Salman Khan – GRM Basmati Rice
• Dinesh Karthik – SA20 league
• Shikhar Dhwan – MotoGP India

Important day

14 October – World Standards Day

• World Standards Day is observed every year on 14 October.
• This aims to emphasize the role that standardization plays in enhancing international trade and safety, as well as quality of life.
• Theme 2024 – Shared Vision for a Better World: Standards for the Changing Climate
• The date it commemorates is the first meeting held in 1946, at which delegates from 25 countries met in London to establish an international organization that would concentrate its efforts on standardization.
• Although the International Organization for Standardization was constituted the following year, the first World Standards Day was only celebrated in 1970.

15 October – World White Cane Day

• World White Cane Day is observed annually on October 15 to recognise the importance of the white cane as a tool for individuals who are blind or visually impaired.
• Beyond its practical use, this day aims to raise public awareness about pedestrian safety and the rights of people with visual disabilities.
• Theme 2024 – Promoting Inclusion: Celebrating Abilities and Advocating Access for People
• The day was first celebrated in 1964, with President Lyndon B. Johnson marking the occasion. Since then, the white cane has been recognized not only as an essential tool for mobility but also as a strong symbol of independence for blind individuals.

15 October – Global Handwashing Day

• Global Handwashing Day is celebrated annually on October 15.
• Objective – To encourage people worldwide to wash their hands with soap when needed.
• Theme 2024 – Why are clean hands still important
• Global Handwashing Day was initiated in 2008 by the Global Handwashing Partnership, a coalition of international organisations dedicated to promoting hand hygiene.

16 October – World Food Day

• World Food Day is celebrated every year on 16 October across the world.
• The objective of World Food Day is to eradicate hunger, ensure food security, boost agricultural productivity and support a sustainable food system.
• Theme 2024 – Right to Food for a Better Life and a Better Future.
• The Food and Agriculture Organisation (FAO) came into existence in 1945 and World Food Day came into existence in 1979 when the 20th FAO Conference declared October 16 as World Food Day.
• Over 150 countries join the movement, observing this day to raise awareness about hunger, malnutrition, and food-promoting sustainable solutions for a zero-hunger world.

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