Daily Current Affairs

Daily Current Affairs
10th Oct 2024

10th Oct 2024
BANKING & FINANCE

Reserve Bank of India Issues White-Label ATM License to Mumbai's Electronic
Payment and Services
 The Reserve Bank of India (RBI) granted a white-label
ATM (WLA) license to Electronic Payment and Services
(EPS), a Mumbai-based ATM outsourcing company.
 It is the first WLA license issued by RBI in a decade.
 EPS is a privately owned ATM outsourcing company based
in Mumbai, backed by investors including Apis Partners
(UK) and Dutch Entrepreneurial Development Bank
(FMO).
 With this license, EPS becomes the 5th white-label ATM
operator in India, joining Tata Communications Payment
Solutions, India1 Payments, Hitachi Payment, and
Vakrangee.
 The new license comes 10 years after the first one was
issued.
 The country's first WLA was set up by Indicash, established
by Tata Communication Payment Solutions, in
Chandrapada, a small village located in the Thane district of
Maharashtra on June 27, 2013.
 Purpose of White-Label ATMs: These ATMs are owned and
operated by non-banking entities, allowing customers from
any bank to use them.
 This is aimed at expanding ATM availability, especially in tier
3 cities and rural areas.
 Earlier three other companies had surrendered their
licenses.
Key Highlights :
 RBI's Focus: The RBI is focusing on increasing ATM density to cater to cash needs
in a growing economy, despite the rapid expansion of digital payment modes.
 Regulatory Framework: The license was issued under the Payment and Settlement
Systems Act of 2007, aimed at enhancing ATM networks in rural and semi-urban
areas.
 Operational Plans: EPS plans to set up 9,000 white-label ATMs in the first three
years, with a goal of deploying around 2,000 ATMs by March 2025.
 Current ATM Landscape: As of now, India has approximately 34,740 white-label
ATMs, which constitute about 14% of the total 256,000 ATMs in the country.
 Cash Circulation Growth: The currency in circulation has increased significantly, from
₹13.35 lakh crore in March 2017 to ₹35.15 lakh crore in March 2024.
 Digital Payments Index: The RBI's Digital Payments Index (RBI-DPI) has risen to
445.50 by the end of March 2024, indicating a substantial increase in the
digitization of payments across India.
Paytm Money introduces BSE Futures & Options trading to enhance wealth
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10th Oct 2024
management services
 Paytm Money, a wholly-owned subsidiary of
One97 Communications (OCL), launched
BSE Futures & Options (BSE F&O) trading
service on its platform, as part of the Noida-
based company’s efforts to expand its wealth
management and financial services segment.
 This would enable users to trade index
derivative contracts offered by the Bombay
Stock Exchange, including SENSEX, BANKEX,
and SENSEX50.
 The platform would enable users to trade both NSE and BSE F&O contracts in one
app.
 The company, ranked the 11th largest broker, said trading charges excluding taxes
have been set at Rs 20 per trade order.
Key Highlights :
 Platform Features: Includes real-time market data, advanced charting tools, and an
integrated margin calculator for informed decision-making. Offers various order types
(market, limit, stop-loss, intraday) with real-time tracking of positions and P&L.
 SEBI Report: The Securities and Exchange Board of India (SEBI) revealed that 93%
of retail traders incurred an average loss of Rs 2 lakh over the past three years.
 Losses increased in F&O trading from 89% in FY22 to 91.1% in FY24.
 Regulatory Impact: The high loss rate in F&O trading may influence SEBI’s future
policies regarding F&O regulations, where daily turnover exceeds Rs 500 trillion.
About Paytm Money:
 Founded: September 20, 2017
 CEO: Rakesh Singh
 Services: SEBI-registered stock broker and depository participant offering equity &
derivatives trading, depository services, and IPO investments.
State Bank of India-led Committee Recommends Eliminating 18% GST on Co-

Lending Activities
 The State Bank of India (SBI) led a
committee to encourage co-lending
partnerships between commercial banks
and non-banking financial companies
(NBFCs).
 The committee recommended eliminating the
Goods and Services Tax (GST) of 18% on co-
lending-related activities to promote co-
lending growth.
 The committee suggested restricting co-lending
to Priority Sector Lending (PSL) to avoid higher
risks associated with other lending sectors.
 The report has been submitted to the Ministry of Finance for consideration.
10th Oct 2024
 In May 2024, the Department of Financial Services (DFS) under the Finance Ministry
directed SBI to form this committee to address issues related to the co-lending
business model.
About SBI :
 Founded : 1 July 1955
 Headquarters : Mumbai, Maharashtra, India
 Chairman : Challa Sreenivasulu Setty
Securities and Exchange Board of India Proposes New Regulations for Sharing
Financial Market Data
 The Securities and Exchange Board of India
(SEBI) has proposed a revised framework for
sharing data aimed at promoting more
democratisation, privacy, and accountability.
 Based on Sebi’s market data advisory
committee (MDAC) suggestion, the regulator
has proposed that it can share data that is under
its ownership, while market infrastructure
institutions (MIIs) should share their generated data through their own policies.
 Under the proposed framework, Sebi has said each MII will have to frame their data
sharing policies and share the data lists with the regulator within 60 days.
Key Highlights :
 Privacy Considerations:SEBI emphasizes the need for stock exchanges,
depositories, and clearing corporations to create data sharing policies specifically for
research purposes.
 Data shared for commercial purposes will not fall under this new framework.
 Data Categorization:The proposed framework categorizes data into two distinct
"baskets":
 Basket 1: Includes aggregated and analyzed data that can be publicly shared. This
will encompass data already available on respective MIIs' websites, along with a
limited amount of anonymized data (up to 2 GB) available free for researchers.
 Basket 2: Contains sensitive data that cannot be publicly disclosed, such as Know
Your Customer (KYC) details and certain trade logs.
 Access and User-Friendliness:Data in Basket 1 should be easily accessible and
presented in a user-friendly manner.
 MIIs must provide samples of data from Basket 1 on their websites and include a
"data seeking request form" for researchers.
 Implementation Timeline:The circular is effective immediately, and MIIs are required
to report their compliance status to SEBI within three months.
 Research Facilitation:The guidelines aim to enhance data accessibility for
researchers while maintaining data authenticity and privacy.
 Background:These proposals were made following discussions within SEBI's Market
Data Advisory Committee, highlighting the importance of sourcing data from reliable
origins and developing robust policies for data handling.
About SEBI :
10th Oct 2024
 Established: 12 April 1988 as an executive body and was given statutory powers on
30 January 1992 through the SEBI Act, 1992
 Headquarters: Mumbai, Maharashtra
 Chairman: Madhabi Puri Buch
 SEBI is the regulatory body for securities and commodity markets in India under the
ownership of the Ministry of Finance, GoI.
HDFC Bank Secures Largest Securitisation Pool of ₹9,063 Crore, Rated AAA by India
Ratings
 India’s largest private sector lender HDFC Bank has
originated the largest securitisation pool of Rs 9,063
crore, rated AAA by domestic rating agency India
Ratings.
 The asset-backed securitisation transaction is
backed by a pool of new car loans.
 The loan pool has been assigned to India Universal
Trust for a purchase consideration equal to 100% of
the pool principal outstanding.
Key Highlights :
 The loan pool has been assigned to India Universal Trust for a purchase
consideration equal to 100% of the pool's principal outstanding.
 Pass Through Certificates (PTCs):
 Series A1 PTCs: 38.62% of the pool principal outstanding.
 Time-Tranched Redemption: Series A1 PTCs will be redeemed first, followed by
Series A2, and then Series A3.
 Coupon Rates:
 Series A1 PTCs: 8.02% per annum.
 Series A2 PTCs: 8.12% per annum.
 Series A3 PTCs: 8.20% per annum. (Coupon payments are made monthly).
 Significance of Financial Institutions: India Ratings highlights the increasing role of
financial institutions in driving India towards a $5 trillion economy and improving
financial inclusivity.
About HDFC Bank :
 Founded : August 1994
 CEO : Sashidhar Jagdishan
Kotak Mahindra Bank Secures Branding Rights for BKC Metro Station on Mumbai
Metro 3 Route Inaugurated by Prime Minister Narendra Modi
 Kotak Mahindra Bank has secured branding rights for the BKC metro station on
the Mumbai Metro 3 route.
10th Oct 2024
 The BKC metro station will be named "Kotak

BKC Metro Station," reflecting the bank's
branding.
 The Mumbai Metro 3 route, which includes the
BKC station, was inaugurated by Prime Minister
Narendra Modi.
 Kotak Mahindra Bank's headquarters is located in the Bandra-Kurla Complex (BKC),
and the bank owns two towers in the area, from which its subsidiaries operate.
 The Mumbai Metro Rail Corporation (MMRC) has awarded Kotak Mahindra Bank
branding rights for BKC metro station till 2028.
 In addition to the BKC station, Kotak Mahindra Bank also holds branding rights for
the CST (Chhatrapati Shivaji Terminus) station, which will be part of the same metro
line in the second phase.
About Kotak Mahindra Bank :
 Established : 1985
 MD & CEO : Ashok Vaswani
 Tagline : Let's Make Money Simple
NATIONAL NEWS
India Eliminates Trachoma as a Public Health Problem: WHO Certification
 The World Health Organisation (WHO) has declared that
India has eliminated Trachoma as a public health problem.
 India becomes the third country in the WHO South-East Asia
Region to achieve this milestone.
 The official certification was presented to Smt. Aradhana
Patnaik, Additional Secretary and Mission Director of the
National Health Mission, by Ms. Saima Wazed, Regional
Director, WHO South-East Asia, at the WHO Regional
Committee meeting in New Delhi.
 About Trachoma:
o Trachoma is a bacterial infection caused by Chlamydia
Trachomatis.
o It is a contagious disease, spread through contact with
infected eyes, eyelids, or secretions from the nose or
throat.
o If untreated, it can lead to irreversible blindness.
o Trachoma mainly affects underprivileged communities
living in poor environmental conditions.
o Globally, 150 million people are affected by Trachoma,
and 6 million are either blind or at risk of severe visual
complications.
 Historical Efforts in India:
o During the 1950s-60s, Trachoma was one of the leading causes of
blindness in India.
10th Oct 2024
o The Government of India launched the National Trachoma Control Program

in 1963.
o Later, Trachoma control efforts were integrated into the National Program
for Control of Blindness (NPCB).
 Key Statistics and Strategies:
o In 1971, 5% of blindness cases in India were due to Trachoma, but by 2017,
the disease had been eradicated in its infectious form.
o The WHO’s SAFE Strategy (Surgery, Antibiotics, Facial hygiene, and
Environmental cleanliness) was implemented nationwide.
o By 2024, the percentage of blindness due to Trachoma was reduced to less
than 1%.
 Final Surveillance and Elimination:
o From 2019 to 2024, India continued surveillance for Trachoma cases in all
districts.
o The National Trachomatous Trichiasis (TT only) Survey was conducted in
200 endemic districts from 2021-2024 under the NPCBVI (National
Programme for Control of Blindness & Visual Impairment).
o After review by the WHO, India was officially declared Trachoma-free as a
public health problem.
Prime Minister Modi's Visit to Lao PDR for ASEAN-India and East Asia Summits Amid
Geopolitical Challenges
 Prime Minister Narendra Modi is set to
visit Lao PDR to participate in the 21st
ASEAN-India and 19th East Asia Summit.
 This comes as ASEAN faces challenges from
Myanmar's civil conflict and rising tensions in
the South China Sea.
 The visit underscores India’s decade of
engagement with ASEAN under the Act
East Policy.
 Key Highlights:
 ASEAN-India Summit:
 Objective: Review the progress of the Comprehensive Strategic Partnership
between India and ASEAN and chart future cooperation.
 Significance: Relations with ASEAN remain a cornerstone of India's Indo-Pacific
vision, particularly as India marks ten years of its Act East Policy.
 East Asia Summit:
 Significance: A premier platform for strategic dialogue, the East Asia Summit allows
leaders to exchange views on pressing regional issues, strengthening strategic trust
in East Asia.
 India's Growing Engagement with Southeast Asia:
 Civilizational and Cultural Ties:
o India’s historical connections with Southeast Asia, deeply rooted in Buddhism
and the Ramayana, have evolved into modern-day relationships.
10th Oct 2024
o Initiatives such as the revival of Nalanda University and the restoration of

World Heritage Sites in countries like Lao PDR, Cambodia, and Vietnam
strengthen shared heritage.
 Recent Diplomatic and Strategic Developments:
o In 2024, India strengthened relations with ASEAN nations through high-level
visits, including the Prime Ministers of Vietnam and Malaysia visiting New
Delhi.
o The Prime Minister’s visit to Brunei was the first bilateral visit by an Indian
PM, signaling a deeper engagement with the region.
o Several Memoranda of Understanding (MoUs) were signed, including a
semiconductor partnership with Singapore and an agreement with Brunei
on satellite tracking systems.
 Act East Policy Achievements:
o Over the past decade, India's Act East Policy has led to enhanced trade,
investment, and defense cooperation with ASEAN countries.
o Direct flight connections between India and Southeast Asia, such as
Cambodia and soon Brunei, have been initiated, promoting connectivity.
 India as a First Responder in ASEAN:
o Under Operation Sadbhav, India provided humanitarian assistance to Laos
and Vietnam after Typhoon Yagi, reaffirming its role as a first responder in
the region.
o India’s commitment to disaster resilience is further emphasized by Vietnam’s
decision to join the Coalition for Disaster Resilient Infrastructure (CDRI).
 Summary of Recent Bilateral Relations:
 India-Vietnam: Inauguration of the Army Software Park and Vietnam’s joining of
the CDRI.
 India-Brunei: MoU signed for cooperation in satellite and launch vehicle operations.
 India-Singapore: Semiconductor ecosystem partnership.
 Future Prospects:
 The ASEAN-India Summit and the East Asia Summit are expected to further
deepen India's strategic partnerships with ASEAN and East Asia, while also
addressing broader regional challenges such as security in the South China Sea
and the Myanmar crisis.
Key Decisions of the 194th ESI Corporation Meeting Chaired by Dr. Mansukh
Mandaviya
 Dr Mansukh Mandaviya, Union Minister for
Labour & Employment and Youth Affairs &
Sports, presided over the 194th meeting of
the ESI Corporation, accompanied by
Sushri Shobha Karandlaje, Union Minister of
State for Labour & Employment and Micro,
Small & Medium Enterprises.
 The meeting focused on pivotal decisions to
enhance infrastructure and medical facilities under ESIC across India.
10th Oct 2024
 Establishment of New ESIC Medical Colleges

 Locations: Andheri (Maharashtra), Basaidarapur (Delhi), Guwahati-Beltola (Assam),
Indore (Madhya Pradesh), Jaipur (Rajasthan), Ludhiana (Punjab), Naroda-
Bapunagar (Gujarat), Noida & Varanasi (Uttar Pradesh), Ranchi (Jharkhand)
 Objective: To support the Prime Minister’s vision of adding 75,000 medical seats in
the next five years.
 Extension of Atal Beemit Vyakti Kalyan Yojna
 Period: Extended from 01.07.2024 to 30.06.2026
 Purpose: Provides Unemployment Allowance to insured persons during job search
periods.
 Medical Care Provision under AB-PMJAY
 Program: ESIC beneficiaries can now avail treatment at empanelled hospitals under
Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) across India,
without expenditure limits.
 Introduction of Para-medical & B.Sc (Nursing) Courses
 Courses: Approved at ESIC Medical Colleges in various states including Rajasthan,
Bihar, Haryana, West Bengal, Tamil Nadu, Telangana, and Karnataka.
 Nursing Officer Recruitment through NORCET
 Adoption: ESIC will adopt AIIMS' NORCET recruitment policy for Nursing Officers
to address staffing needs in ESIC Hospitals, Colleges, and Dispensaries.
 Acquisition of Land Parcels for Healthcare Facilities
 Projects: Includes construction of hospitals, dispensaries, and DCBOs (Doctor-cum-
Branch Offices) at strategic locations across India.
 8. Other Agenda Items
 Deliberations: Covered improvements in medical care services, administration,
financial matters, and review of ongoing construction projects.
 Participants: Included MPs, government officials, employer and employee
representatives, and medical experts.
INTERNATIONAL NEWS
Myanmar to Participate in Association of Southeast Asian Nations Summit for the
First Time in Three Years
 Myanmar will send a representative to the
Association of Southeast Asian Nations
(ASEAN) summit for the first time in three
years.
 The decision to participate comes as the junta
struggles to address an ongoing civil war and
amid diplomatic isolation since the February 2021
coup.
Key Highlights :
 Agenda Focus:The civil conflict in Myanmar is
expected to be a significant topic during the
summit, which is being held in Vientiane, Laos from October 9, 2024.
10th Oct 2024
 ASEAN's Stance:Following the coup, ASEAN barred the junta leaders from its
summits. Instead, Myanmar has been represented by a senior foreign ministry
official.
 Five-Point Consensus:The junta initially agreed to a "five-point consensus" plan
aimed at restoring peace, but it has largely ignored the agreement while continuing a
crackdown on dissent.
 Significance of Participation:Myanmar's attendance is viewed as a tacit acceptance
of the five-point consensus, signaling a potential shift in its diplomatic approach.
 Previous Exclusions:Junta chief Min Aung Hlaing attended an emergency ASEAN
summit in April 2021 but has not been invited to regular summits since then.
 Recent Developments:Recent talks in Jakarta, hosted by Indonesia, involved various
stakeholders, including the European Union, United Nations, and anti-junta groups,
emphasizing the need for inclusive dialogue.
 ASEAN Leadership Transition:Malaysia is set to take over as the ASEAN chair after
this summit, with foreign minister Mohamad Hasan highlighting the importance of
including all parties in discussions about Myanmar.
About ASEAN :
 Headquarters : Jakarta, Indonesia
 Secretary General : Dr. Kao Kim Hourn
 Membership : 10 member states (Brunei Darussalam, Cambodia, Indonesia, Lao
PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam) & 2 Observer
States (East Timor, Papua New Guinea)
About Myanmar :
 President : Min Aung Hlaing
 Capital : Naypyidaw
 Currency : Kyat
STATE NEWS
Bihar Chief Minister Nitish Kumar Unveils Logo and Mascot for Women's Asian
Champions Trophy 2024 in Rajgir
 Bihar Chief Minister Nitish Kumar unveiled
the logo and mascot for the Women's Asian
Champions Trophy-2024, which will be held in
Rajgir from November 11-20.
 The mascot, named 'Gudiya', is inspired by the
state bird of Bihar, Sparrow.
 The Women's Asian Champions Trophy-2024
is a joint venture of Hockey India and the Bihar
government and will be held at the newly developed Rajgir Hockey Stadium.
 The state cabinet recently sanctioned Rs 10 crore to Hockey India for the
purpose.
 Six countries, including India, China, Thailand, Malaysia, South Korea and Japan,
are participating in the championship.
10th Oct 2024
 The hockey stick in Gudiya's hand is the symbol of the hockey competition and the
goalkeeper's glove in the hand and the defensive posture reflect the strategic
qualities of alertness.
 A ball kept nearby for the whole team reflects the necessity of playing together with
sportsmanship.
 The design of the 'logo' of this competition is a symbol of the rich cultural heritage
and all-round progress of glorious Bihar.
 The Bodhi tree and hockey stick have been kept in the logo.
About Bihar :
 Governor : Rajendra Arlekar
 Chief Minister : Nitish Kumar
 Capital : Patna
 Wildlife Sanctuaries : Kaimur Wildlife Sanctuary, Kanwar Lake Bird Sanctuary, Nagi
Dam Bird Sanctuary
Nagaland Collaborates with Wales for 25th Hornbill Festival

 Nagaland government has signed Wales as one of the Country Partners for the
upcoming 25th Edition of the Hornbill Festival.
 Chief Minister Neiphiu Rio, who is on an official visit
to Wales, announced the signing of the agreement
with the Welsh Government, the British Council, and
Wales Arts International representatives in Cardiff.
 The festival has been organised by the Nagaland
government since 2000 between December 1 and
December 10 every year to showcase and promote the best of Naga culture,
cuisines and music to the world.
About Nagaland :
 Governor : La. Ganesan
 Chief Minister : Neiphiu Rio
 Capital : Kohima
 National Park : Ntangki National Park
 Wildlife Sanctuaries : Fakim Wildlife Sanctuary, Puliebadze Wildlife Sanctuary,
Singphan Wildlife Sanctuary
 Festival : Aoleng Festival
AWARDS AND HONOURS

Nobel Prize in Physics 2024 Awarded to John J. Hopfield and Geoffrey E. Hinton
 Award Recipients:
 John J. Hopfield (Princeton University, USA)
 Geoffrey E. Hinton (University of Toronto, Canada)
 Topic:
 For their foundational discoveries and inventions that have advanced machine
learning, particularly through the development of artificial neural networks.
 Key Highlights:
 Overview:
10th Oct 2024
o The 2024 Nobel Prize in Physics

recognizes the groundbreaking work of
John J. Hopfield and Geoffrey E.
Hinton in the field of machine learning.
o Both laureates have used principles from
physics to develop techniques that form
the backbone of today’s artificial
intelligence (AI) technologies,
particularly in the domain of neural networks.
 John J. Hopfield’s Work:
o Associative Memory Model:
 Hopfield introduced a network that can store and recall patterns, similar
to how the brain retrieves memories.
 The Hopfield Network is based on concepts from physics, particularly
atomic spin, where energy minimization leads to stability.
o Pattern Reconstruction:
 The network can reconstruct distorted or incomplete images by
systematically updating its nodes, leading to the retrieval of the most
accurate version of the saved pattern.
 The goal is to minimize the network's overall energy, ensuring stable
pattern recognition.
 Geoffrey E. Hinton’s Work:
o Boltzmann Machine Foundations:
 Hinton expanded on Hopfield’s model by developing the Boltzmann
machine, a neural network that learns and recognizes patterns from
data using principles of statistical physics.
o Learning and Pattern Recognition:
 The Boltzmann machine is trained with datasets, allowing it to classify
images and generate new data points similar to the examples it was
fed.
 This model has significantly contributed to the modern development of
machine learning.
 Impact on Machine Learning and AI:
o The work of Hopfield and Hinton laid the foundation for neural networks that
are widely used in artificial intelligence, pattern recognition, and data
analysis.
o Their contributions continue to drive innovation in both AI and physics,
influencing research in discovering new materials and improving machine
learning applications.
About the Laureates:
 John J. Hopfield:
o Born: 1933 in Chicago, IL, USA.
o PhD: 1958 from Cornell University, Ithaca, NY, USA.
o Position: Professor at Princeton University, NJ, USA.
 Geoffrey E. Hinton:
10th Oct 2024
o Born: 1947 in London, UK.

o PhD: 1978 from The University of Edinburgh, UK.
o Position: Professor at University of Toronto, Canada.
SCIENCE & TECHNOLOGY

Indian Space Research Organisation’s Upper Stage Rocket Returns to Earth After 7-
Year Journey
 The Indian Space Research Organisation (ISRO)
announced that the upper stage of Polar Satellite Launch
Vehicle C-37 (PSLV C-37 mission), which launched a record
number of 104 satellites more than seven years ago, has re-
entered the earth's atmosphere as predicted.
 PSLV-C37 was launched on February 15, 2017 by the ISRO.
 The mission carried Cartosat-2D as the main payload, along
with 103 co-passenger satellites, making it the first mission
to launch 104 satellites with a single rocket.
Key Highlights :
 Upper Stage Details:After the satellite injections, the upper
stage (PS4) of PSLV-C37 was left in an orbit of approximately
470 x 494 km.
 The PS4 upper stage was passivated (made inactive) after its
mission, and its altitude slowly decayed due to atmospheric
drag.
 Tracking and Re-entry:Since September 2024, ISRO's IS4OM
(Isro System for Safe and Sustainable Space Operations
Management) has regularly monitored the orbital decay.
 The upper stage re-entered Earth's atmosphere on October 6, 2024, with the impact
point in the North Atlantic Ocean.
 International Debris Mitigation Guidelines:The re-entry complied with international
debris mitigation guidelines, specifically those of the Inter-Agency Space Debris
Coordination Committee (IADC).
 IADC guidelines recommend limiting the post-mission orbital life of defunct objects in
Low-Earth Orbit (LEO) to 25 years.
 Passivation and Design:The mission’s passivation sequence was designed to lower
the orbit of the PS4 upper stage after payload injection, ensuring it met debris
mitigation standards.
 Future Initiatives for Orbital Lifetime Reduction:ISRO has initiated measures to
reduce the residual orbital lifetime of PSLV upper stages to five years or less.
 This is achieved by actively de-orbiting them to lower altitude orbits using engine re-
starts.
 These strategies have been implemented in missions such as PSLV-C38, PSLV-40,
PSLV-C43, PSLV-C56, and PSLV-C58.
 Controlled Re-entry:Future PSLV missions will incorporate controlled re-entry plans
for the upper stages to ensure safe disposal after mission completion.
10th Oct 2024
 Long-term Sustainability Commitment:ISRO is committed to the long-term

sustainability of space activities and aims to achieve the objectives of the Debris
Free Space Mission by 2030.
About ISRO :
 Established : 15 August 1969
 Headquarters : Bengaluru, Karnataka
 Chairman : S. Somanath
MOUS AND AGREEMENT

Tata Technologies and BMW Group Launch BMW TechWorks India: A New Venture
in Automotive Software Innovation
 Tata Technologies and BMW Group have
launched a joint venture named BMW
TechWorks India.
 The venture focuses on developing automotive
software and digital transformation
solutions for business IT.
 Both companies hold equal stakes in the
venture.
 Innovation Focus:
o BMW TechWorks will design software for software-defined vehicles (SDV)
and enable the integration of AI and Generative AI technologies in BMW
cars.
o The venture aims to enhance the digital capabilities of BMW's vehicles and
business operations.
 Workforce Expansion:
o The company has started with approximately 100 employees based in Pune,
Bengaluru, and Chennai, and plans to scale this to a four-digit workforce by
2025.
 Significance for India:
o This collaboration offers a unique opportunity for Indian talent to shape the
future of mobility and contribute to the growth of next-generation automotive
technology.
SPORTS NEWS
World Pickleball Championship Series event to be held in Mumbai from November
12-17
 Weightlifting:
o Gyaneshwari Yadav won the elite
women’s 49kg title at the National
Weightlifting Championships by
lifting a total of 186kg.
o Sufna Jasmin P.S. set new
national records in snatch (76kg)
and total (169kg) to win the women’s 45kg category.
10th Oct 2024
 Pickleball:
o The World Pickleball Championship (WPC) Series will take place in
Mumbai from November 12-17, 2024. This event will feature around 650
players from various countries. India had previously performed well in this
competition, securing several medals in past editions held in Vietnam and
Bali.
 Sailing:
o Indian sailors earned seven medals at the Mussanah Race Week in Oman.
Notable performances include:
 Shreya Krishna Lakshminarayanan won gold in the Optimist Girls U-
15 category.
 Shashank Batham (silver) and Akshat Kumar Dohare (bronze)
secured podium finishes in the ILCA-4 U-16 category.
 Tennis:
o Rohan Bopanna and Ivan Dodig lost in the pre-quarterfinals of the
Shanghai Masters to Wesley Koolhof and Nikola Mektic.
o In the Fenesta National Sub-Junior Tennis Championship, Angel Patel
upset top-seeded Anandita Upadhyay in the U-16 girls' second round.
Marco Curto Receives 10-Game Ban from FIFA for Discriminatory Remarks
 FIFA has suspended Marco Curto, an Italian
soccer player, for 10 games due to a
discriminatory remark made against South
Korean forward Hee Chan Hwang during a
preseason match between Como and
Wolverhampton.
 Community Service and Education
o In addition to the suspension, Curto is
required to perform community service and undergo training and
education with an organization approved by FIFA.
 Incident Background
o Como defended Curto’s remark, stating it was not intended to be derogatory.
The comment, “thinks he’s Jackie Chan,” was made during the match in
July.
o The incident was reported by Hwang during the second half, prompting angry
reactions from his teammates, including Daniel Podence, who received a red
card for punching a Como player.
 Formal Complaint
o The South Korea Football Association lodged a formal complaint to FIFA,
which led to Curto being notified of his disciplinary ban on Monday.
 Loan and Game Impact
o Following the incident, Curto has been loaned from Como to Serie B club
Cesena and will miss five league games through November 10.
o FIFA has deferred five games of the ban for a probationary period of two
years.
10th Oct 2024
 FIFA's Stance on Discrimination

o This year, FIFA encouraged all 211 member federations to adopt a
coordinated approach to tackling incidents of alleged racism and
discrimination in soccer.
Mahmudullah Riyad Announces Retirement from T20 Cricket After Series in India
 Former Bangladesh captain Mahmudullah Riyad
announced that his remaining two T20 matches in
India will mark his final appearances.
 Upcoming Matches
o The 38-year-old player is set to participate
in his 140th T20 match for Bangladesh in
the second game on Wednesday in New
Delhi. The final match of the series will
take place in Hyderabad .
o Bangladesh needs to win in New Delhi to
stay alive in the three-match series, having
lost the opener by seven wickets in
Gwalior.
 Career Overview
o Since making his international debut in 2007, Mahmudullah has been a crucial
player for Bangladesh, featuring in 50 Tests, 232 ODIs, and 139 T20
matches, amassing over 10,500 runs and taking 165 wickets with his off-
spin.
 Shakib Al Hasan's Exit
o His retirement follows shortly after all-rounder Shakib Al Hasan announced
his decision to quit the T20 format during the recent Test series, which
Bangladesh lost 2-0.
IMPORTANT DAYS
Indian Foreign Service (IFS) Day 2024: October 9
 Indian Foreign Service (IFS) Day is observed
annually on October 9, commemorating the
establishment of the Indian Foreign Service in
1946.
 This day honors the dedicated diplomats and
foreign service officers who play a crucial role in
India's diplomatic, consular, and commercial
representation around the world.
 Overview of IFS Day
 First Observed: 1946
 Purpose: To honor and recognize the contributions of Indian diplomats in
safeguarding national interests and enhancing India’s global reputation.
 Celebrated By: Indian Foreign Service (IFS) officials and diplomatic missions
globally.
10th Oct 2024
 Events: Seminars, cultural programs, discussions on international diplomacy, and

reflections on the history and achievements of the IFS.
 Historical Context
 The IFS was officially established on October 9, 1946, just before India gained
independence.
 It replaced the Indian Political Service, which had managed foreign relations during
British rule.
 Jawaharlal Nehru, India’s first Prime Minister and Foreign Minister, envisioned
the IFS as a key institution to present India as a leader in world affairs.
 During the colonial era, the Foreign Department managed interactions with foreign
powers, laying the groundwork for what would evolve into the modern Indian Foreign
Service.
 Since its inception, the IFS has played a pivotal role in maintaining diplomatic
relations globally, promoting peace, and enhancing India's economic and cultural
influence on the international stage.
World Mental Health Day: October 10

 World Mental Health Day
2024 falls on the 10th of
October.
 World Mental Health Day with
the theme 'It is Time to
Prioritise Mental Health in
the Workplace'
 A non-governmental organization called the World Federation for Mental Health
(WFMH) was established in 1948.
 On October 10, 1992, Richard Hunter, who was the deputy secretary general of the
WFMH at the time, declared the first World Mental Health Day.
 Every year since 1994, a unique theme has been chosen for the international
celebration.
World Sight Day : October 10

 World Sight Day is an International
Day of Awareness, held annually on
the second Thursday of October.
This year, World Sight Day is
observed on the 10th of October
2024.
 Lions Clubs International partnered with blindness presentation organizations
worldwide for the first World Sight Day in 1998.
 This event was later integrated into VISION 2020, a global initiative that the
International Agency for the Prevention of Blindness (IAPB) coordinates.
 This initiative is a joint program between WHO and the IAPB.
 It involves non-government organizations, and professional associations, as well as
eye-care institutions and corporations.
10th Oct 2024
Daily CA One- Liner: October 10

 The World Health Organisation (WHO) has declared that India has eliminated
Trachoma as a public health problem
 Prime Minister Narendra Modi is set to visit Lao PDR to participate in the 21st
ASEAN-India and 19th East Asia Summit.
 Dr Mansukh Mandaviya, Union Minister for Labour & Employment and Youth
Affairs & Sports, presided over the 194th meeting of the ESI Corporation,
accompanied by Sushri Shobha Karandlaje, Union Minister of State for Labour &
Employment and Micro, Small & Medium Enterprises
 The 2024 Nobel Prize in Physics recognizes the groundbreaking work of John J.
Hopfield and Geoffrey E. Hinton in the field of machine learning.
 Tata Technologies and BMW Group have launched a joint venture named BMW
TechWorks India
 Gyaneshwari Yadav won the elite women’s 49kg title at the National Weightlifting
Championships by lifting a total of 186kg
 FIFA has suspended Marco Curto, an Italian soccer player, for 10 games due to a
discriminatory remark made against South Korean forward Hee Chan Hwang
during a preseason match between Como and Wolverhampton
 Former Bangladesh captain Mahmudullah Riyad announced that his remaining two
T20 matches in India will mark his final appearances
 The Reserve Bank of India (RBI) granted a white-label ATM (WLA) license to
Electronic Payment and Services (EPS), a Mumbai-based ATM outsourcing
company.
 Paytm Money, a wholly-owned subsidiary of One97 Communications (OCL),
launched BSE Futures & Options (BSE F&O) trading service on its platform, as
part of the Noida-based company’s efforts to expand its wealth management and
financial services segment.
 The State Bank of India (SBI) led a committee to encourage co-lending
partnerships between commercial banks and non-banking financial companies
(NBFCs).
 The Securities and Exchange Board of India (SEBI) has proposed a revised
framework for sharing data aimed at promoting more democratisation, privacy,
and accountability.
 India’s largest private sector lender HDFC Bank has originated the largest
securitisation pool of Rs 9,063 crore, rated AAA by domestic rating agency India
Ratings.
 Kotak Mahindra Bank has secured branding rights for the BKC metro station on
the Mumbai Metro 3 route.
 Myanmar will send a representative to the Association of Southeast Asian
Nations (ASEAN) summit for the first time in three years.
 Bihar Chief Minister Nitish Kumar unveiled the logo and mascot for the Women's
Asian Champions Trophy-2024, which will be held in Rajgir from November 11-20.
 Nagaland government has signed Wales as one of the Country Partners for the
upcoming 25th Edition of the Hornbill Festival.
10th Oct 2024
 The Indian Space Research Organisation (ISRO) announced that the upper stage
of Polar Satellite Launch Vehicle C-37 (PSLV C-37 mission), which launched a
record number of 104 satellites more than seven years ago, has re-entered the
earth's atmosphere as predicted.
 Indian Foreign Service (IFS) Day is observed annually on October 9,
commemorating the establishment of the Indian Foreign Service in 1946
 World Mental Health Day 2024 falls on the 10th of October.
 World Sight Day is an International Day of Awareness, held annually on the second
Thursday of October. This year, World Sight Day is observed on the 10th of
October 2024

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10th Oct 2024

BANKING & FINANCE

State Bank of India-led Committee Recommends Eliminating 18% GST on Co-

 The BKC metro station will be named "Kotak

o The Government of India launched the National Trachoma Control Program

o Initiatives such as the revival of Nalanda University and the restoration of

 Establishment of New ESIC Medical Colleges

Nagaland Collaborates with Wales for 25th Hornbill Festival

AWARDS AND HONOURS

o The 2024 Nobel Prize in Physics

o Born: 1947 in London, UK.

SCIENCE & TECHNOLOGY

 Long-term Sustainability Commitment:ISRO is committed to the long-term

MOUS AND AGREEMENT

 FIFA's Stance on Discrimination

 Events: Seminars, cultural programs, discussions on international diplomacy, and

World Mental Health Day: October 10

World Sight Day : October 10

Daily CA One- Liner: October 10

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