Current Affairs Today 25th October 2024 Daily GK Update

Daily Current Affairs 25th October 2024 Daily GK Update

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National News

Ayush Ministry to celebrate 9th Ayurveda Day on 29 October

• The Ministry of Ayush will celebrate 9th Ayurveda Day at the All India Institute of Ayurveda (AIIA) in New Delhi on 29th October.
• This year the day is being celebrated around the theme Ayurveda Innovations for Global Health.
• Over 150 countries across the globe are to join this year’s Ayurveda Day celebrations.
• The government’s aim is to promote Ayurveda globally as a robust system of medicine for the welfare of the public.

IFFI 2024 celebrates Australia’s Rich Film Traditions and Vibrant Cinema Culture

• The Ministry of Information & Broadcasting has announced that Australia has been nominated as the “Country of Focus” at the 55th edition of the International Film Festival of India (IFFI), to be held in Goa from 20th November to 28th November 2024.
• This special recognition aims to celebrate the dynamic contributions of Australian cinema to the global film industry, highlighting its rich storytelling traditions, vibrant film culture and innovative cinematic techniques.
• India & Australia are already parties to an Audio-Visual Co-production Treaty.
• Founded in 1952, the International Film Festival of India is one of Asia’s most significant film festivals, serving as a platform for filmmakers worldwide to present their works.
• Held annually in Goa, IFFI attracts directors, producers, actors, and film enthusiasts to celebrate the finest in world cinema.

Country of Focus at IFFI

• The “Country of Focus” segment is a key feature of IFFI, offering a dedicated showcase of a nation’s best contemporary films.
• Australia’s diverse cultural background and globally acclaimed filmmakers have had a lasting impact on cinema, making it a fitting selection for this year. This inclusion reflects the strengthening collaboration between the Indian and Australian film industries.

Cabinet approves two Railway projects with estimated cost of Rs 6,798 crore and will be completed in 5 years

• The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, has approved Two Railway projects of the Ministry of Railways with total estimated cost of Rs.6,798 crore (approx.).
• Two approved projects are – (a) the doubling of Narkatiaganj-Raxaul-Sitamarhi-Darbhanga & Sitamarhi-Muzaffarpur Section covering 256 kms and, (b) construction of new line between Errupalem and Namburu via Amaravati covering 57 kms.
• The doubling of Narkatiaganj-Raxaul-Sitamarhi-Darbhanga & Sitamarhi-Muzaffarpur Section will strengthen the connectivity to Nepal, North-east India and Border areas and facilitate movement of passenger trains along with goods train resulting in the socio-economic growth of the region.
• The new rail line project Errupalem-Amaravati-Namburu traverses through NTR Vijayawada and Guntur districts of Andhra Pradesh and Khammam district of Telangana.
• The Two projects covering 8 Districts in 3 States i.e., Andhra Pradesh, Telangana and Bihar will increase the existing network of Indian Railways by about 313 Kms.
• The Union cabinet also approved setting up of a Rs 1000 crore VC fund dedicated to the space sector, under the aegis of IN-SPACe.
• The deployment period of the proposed VC fund is planned to be up to five years from the actual date of start of the fund operations. The average deployment amount could be Rs 150-250 crore per year, depending on the investment opportunities and fund requirements.
• IN-SPACe was established by the Centre in 2020 to bolster private sector participation in the space sector.

IASST Guwahati Inks Technology Transfer Agreement With Bharat Biotech

• The Institute of Advanced Study in Science and Technology (IASST) Guwahati has signed an MoU with Bharat Biotech International Limited (BBIL) Hyderabad.
• The agreement focuses on technology transfer and aims to bring innovative health products, particularly probiotics to market.
• These probiotics, isolated from traditional fermented foods of Northeast India, have shown promising results in addressing metabolic diseases, improving gut health and promoting healthy ageing.
• Bharat Biotech, known for its excellence in developing vaccines and health solutions, will conduct pre-clinical and clinical trials to ensure that the probiotics meet regulatory standards. The trials will determine the products’ efficacy in combating lifestyle diseases such as diabetes and obesity.

Department of Posts issues a Commemorative Stamp to mark 200 Years of Kittur Vijayotsava

• On the 200th anniversary of Kittur Vijayotsava a commemorative Postage stamp was released at the historic Kittur Rani Channamma Stage, Kittur Fort Premises.
• This grand event commemorated Rani Channamma’s glorious victory on 23rd October,1824 against the British rule.
• The commemorative stamp designed by Shri Brahm Prakash features a striking portrait of Rani Channamma, on her horse drawing a sword, fighting against the British, embodying her strength and bravery.
• Surrounding her image are forts symbolizing the rich heritage of Kittur and the historic battle of Kittur.

Govt launches two-year nationwide celebration for Sardar Patel’s 150th Birth Anniversary

• The government will commemorate the 150th birth anniversary of Sardar Vallabhbhai Patel with a two-year-long nationwide programme from 2024 to 2026 to honour his monumental contribution to the country. Patel was born on October 31, 1875, at Nadiad in Gujarat.
• Sardar Patel’s enduring legacy as the visionary behind the establishment of one of the world’s most robust democracies and his pivotal role in unifying India from Kashmir to Lakshadweep remains indelible.
• This celebration will serve as a testament to his remarkable achievements and the spirit of unity that he epitomised.
• The Central government has been observing October 31 as ‘Rashtriya Ekta Diwas’ or National Unity Day since 2014 to foster and reinforce its dedication to preserving and strengthening the unity, integrity and security of the nation.

Banking and Financial

Liberty General Insurance and Maruti Suzuki Join Hands to Boost Insurance Awareness in Punjab and Delhi

• Liberty General Insurance, one of India’s prominent non-life insurers, has joined hands with Maruti Suzuki Insurance Broking to enhance insurance awareness across rural and urban regions.
• The collaboration is part of the ‘Bima Prachaar Aur Prasaar’ initiative, focusing on raising insurance awareness in Punjab’s Gram Panchayats and increasing penetration in Delhi.
• This effort aligns with the Insurance Regulatory and Development Authority of India’s (IRDAI) goal of achieving ‘Insurance for All by 2047.
• Liberty General Insurance, as the lead non-life insurer in Delhi, has been at the forefront of similar awareness campaigns in the capital, while also extending its rural outreach in Punjab.

Recent MoUs Signed in Banking Sector

• Indian Navy Collaborates with Bajaj Allianz Life Insurance to Provide Insurance for Naval Civilians
• IFC partners with Axis Bank to provide $500 million climate loan in India
• NCRTC and Airtel Payments Bank Launch Co-Branded National Common Mobility Cards to Enhance Commuter Convenience
• Federal Bank join hands with Bhashini to boost Chatbot Feddy with Vernacular Language Support
• Bandhan Life partners with Bandhan Bank to Strengthen Insurance Business
• SBI General Insurance joins hand with BLS E-Services to Streamline Access to Insurance Across India

SBI raises ₹5,000 cr via AT-I bonds at 7.98%

• State Bank of India (SBI) raised ₹5,000 crore through Basel III compliant Additional Tier 1 (AT-1) bond issuance on at a coupon rate of 7.98 percent.
• This is the bank’s first AT-1 bond issuance in the current financial year. The tenor of these bonds is perpetual with a call option after 10 years, and each anniversary date thereafter.
• The bonds are rated AA+ with a stable outlook from CRISIL Ratings and CARE Ratings.
• The issue attracted bids from investors in excess of 3.5 times the base issue size of ₹2,000 crore, the bank said, adding that the total number of bids received from qualified institutional bidders was 108.
• The participants were from provident funds, pension funds, insurance companies, mutual funds, NBFCs, banks, etc.
• Challa Sreenivasulu Setty, Chairman, said the wider participation and heterogeneity of bids demonstrated the trust investors place in the country’s largest bank.

FIU slaps Rs 54 lakh fine on Union Bank of India for multiple PMLA violations

• The Financial Intelligence Unit (FIU) has imposed a fine of Rs 54 lakh on the Union Bank of India for “failing” to report suspicious transaction reports and for not undertaking due diligence under the anti-money laundering law for certain accounts at one of its branches in Mumbai.
• The federal agency issued the penalty notice under section 13 of the Prevention of Money Laundering Act (PMLA) on October 1 as it observed that the charges against the lender were “substantiated” after it considered written and oral submissions made by the Bank.
• The investigation started, pursuant to an observation by the FIU, and a “comprehensive review” of the Bank’s operations was undertaken, which uncovered certain “irregularities” related to KYC/AML (know your customer/anti-money laundering laundering) compliance.

Awards

Nepal’s Urmila Chaudhary wins Global Anti-Racism Championship Award 2024

• Urmila Chaudhary of Nepal won the Global Anti-Racism Championship Award 2024 which was presented by Secretary of State Antony J. Blinken.
• This award honours six civil society leaders for their exceptional courage, leadership, and commitment to advancing racial equity, justice, and human rights.
• Urmila Chaudhary is an abolitionist and labour activist who was rescued from child servitude at age 17. She co-founded the Freed Kamlari Development Forum and established 42 cooperatives to empower former bonded labourers. She is currently studying law to further her fight against injustice.
• Urmila Chaudhary is honoured for her dedication to advancing the rights of marginalized castes and ethnic communities in Nepal and for combating systemic racism and intersectional abuses.

Recent Award

• Conscious Companies Awards – Mohanji
• Femina Miss India 2024 – Nikita Porwal (from Madhya Pradesh)
• 54th Dadasaheb Phalke Award (for 2022)- Mithun Chakraborty
• 32nd Ekalabya Puraskar by Odisha govt – Pratyasa Ray (Swimming)
• FIDE 100 Awards – Men’s – Magnus Carlsen (Norway); Women’s – Judit Polgar (Hungary)

Defence

Singapore-India maritime exercise SIMBEX begin at ENC Visakhapatnam

• The 31st edition of the Singapore India Maritime Bilateral Exercise (SIMBEX) will be held till October 29 at the Eastern Naval Command, here.
• The exercise will be conducted in two phases – the Harbour Phase from October 23 to 25 at Visakhapatnam and the Sea Phase from October 28 to 29 in the Bay of Bengal.
• SIMBEX, which began as ‘Exercise Lion King’ in 1994, is a bilateral maritime exercise between the Indian Navy and the Republic of Singapore Navy (RSN).
• RSN ship RSS Tenacious with embarked helicopter, arrived at ENC for participating in SIMBEX2024.
• This year’s edition aims to further strengthen the strategic partnership between India and Singapore by enhancing interoperability, improving maritime domain awareness, and fostering cooperation to address common maritime challenges.

Recent Exercise

• 18 edition of Joint Naval Drill ‘Naseem Al Bahr’ between India and Oman – Coast off Goa
• Army’s Sudarshan Chakra Corps of Southern Command is conducting ‘Exercise SWAVLAMBAN SHAKTI’ at Babina Field Firing Ranges near Jhansi.
• Exercise Malabar 2024 between India, Australia, Japan, and USA – Visakhapatnam
• 8th edition of Exercise KAZIND 2024 between India -Kazakhstan military – Auli, Uttarakhand.
• 7th edition of Exercise Eastern Bridge between Indian Air Force and Royal Oman Air Force – Air Force Base Masirah, Oman.
• 5th edition of Exercise Al NAJAH between Indian Army and Royal Army of Oman – Rabkoot Training Area in Salalah, Oman.

Important day

24 October – United Nations Day

• United Nations Day is celebrated every year on October 24 to mark the anniversary of the entry into force of the UN Charter in 1945, which followed the end of World War II.
• This day offers an opportunity to reflect on the global body’s efforts to maintain peace, promote human rights, and foster social and economic development across the world.
• As a founding member of the United Nations, India has played a vital role in supporting the UN’s mission and continues to contribute to its various initiative.
• The UN was established by 51 countries after the Second World War. The UN’s six official languages are Arabic, Chinese, English, French, Russian and Spanish.

About United Nations (UN)

• Founded – 24 October 1945
• Headquarters – New York, US
• Official languages – Arabic, Chinese, English, French, Russian & Spanish
• Membership – 193 members (193^rd – South Sudan)
• 1st Secretary General – Trygve Halvdan Lie (Norway)
• 9th Secretary‑General – António Guterres (Portugal)
• Deputy Secretary-General – Amina J. Mohammed (Nigeria)
• India’s Permanent Representative to UN – Parvathaneni Harish (replace Ruchira Kamboj)

24 to 30 October – UN Disarmament Week

• UN Disarmament Week is observed every year on from 24 October to 30 October.
• The week-long observance is dedicated to raising awareness about the importance of disarmament and promoting international dialogue to reduce the spread and impact of weapons.
• It was first called for in the Final Document of the UN General Assembly’s 1978 Special Session on Disarmament (resolution S-10/2) and reinforced in 1995 by the General Assembly’s invitation (resolution 50/72 B, 12 December 1995) to governments and NGOs to actively participate.
• As the world marks UN Disarmament Week, global efforts to promote arms control are under the spotlight as the Church strives to reduce the spread of weapons that fuel conflict and instigate violence.
• In a world threatened by weapons of mass destruction, conventional arms and emerging cyberwarfare, United Nations Secretary-General António Guterres presented a new agenda for disarmament to save humanity, save lives and secure our common future.

24-31 October – Global Media and Information Literacy Week

• Global Media and Information Literacy Week is an annual event observed from 24th to 31st October to raise awareness and celebrate the progress achieved towards Media and Information Literacy for all.
• Theme 2024 – The New Digital Frontiers of Information: “Media and Information Literacy for Public Interest Information”
• During Global Media and Information Literacy Week, stakeholders around the world organize events and UNESCO co-hosts with a Member State the global conference gathering, the Media and Information Literacy community. 

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