Current Affairs For 17th October 2023

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Greetings, curious minds. Our journey into current affairs is a voyage through the ever-changing tides of our world.  Current Affairs are very important for all competitive exams including Banking, SSC, RBI, NABARD, UPSC Based exam, WBCS, State level civil service, etc.

 

Q1.What initiative has the government launched to promote eco-friendly actions?

  1. Tradable Green Credit Program
  2. Green Investment Scheme
  3. Sustainable Development Credit Initiative
  4. Eco-Friendly Action Incentive Program

Ans:-1)Tradable Green Credit Program

  • The government has launched an innovative scheme enabling individuals and entities to accrue and exchange green credits, representing rewards for environmentally constructive activities. This endeavor seeks to stimulate favorable environmental impacts through market-driven incentives. Operating on a voluntary basis, this national-level program fosters a competitive market-oriented strategy for the procurement of green credits, thereby motivating environmental initiatives. This initiative is an offshoot of the ‘LiFE’ (Lifestyle for Environment) campaign.

 

Q2.What is the name of the initiative related to student ID cards?

  1. One Student Nation
  2. APAAR ID
  3. Student ID Connect
  4. National Student Identity Program

Ans:-2)APAAR ID

  • The Ministry of Education, in collaboration with the Government of India, has introduced the APAAR ID, also known as the “One Nation One Student ID Card” initiative. This pioneering program is designed to digitally centralize academic information such as degrees, scholarships, achievements, and other credentials for students.
  • The APAAR ID, or One Nation One Student ID Card, represents a major stride towards creating a more streamlined and user-friendly academic ecosystem for students across India. By registering and obtaining their APAAR ID, individuals can access a range of benefits and securely manage their academic records.

 

Q3.What is the subject of the article titled “Sri Lanka’s Strategic Trade Revisions: A Roadmap For Economic Transformation”?

  1. Sri Lanka’s Environmental Policies
  2. Economic Transformation in Sri Lanka
  3. Trade Relations with Sri Lanka
  4. Strategic Roadmap for Sri Lanka’s Military

Ans:-2)Economic Transformation in Sri Lanka

  • Sri Lanka’s State Minister of Finance, Shehan Semasinghe, has revealed the country’s plan to reevaluate its existing free trade agreements (FTAs) with crucial bilateral allies. The initial emphasis will be placed on initiating dialogues with three vital partners: India, China, and Thailand. The primary aim is to effectively finalize the ongoing negotiations with these nations before progressing towards a more comprehensive regional trade agreement.

 

Q4.Where was the tallest BR Ambedkar statue outside India unveiled?

  1. Washington
  2. New York
  3. London
  4. Paris

Ans:- 1)Washington

  • In a momentous occasion, a towering 19-foot statue of Dr. B.R. Ambedkar, the chief architect of India’s Constitution, was officially unveiled in a suburb of Maryland, Washington. This statue stands as the tallest of its kind outside India and carries immense significance for both Indian-Americans and the global Indian diaspora.
  • The distinguished artist and sculptor, Ram Sutar, renowned for crafting the ‘Statue of Unity’ dedicated to Sardar Patel on an island in Gujarat’s Narmada River, was the creator of this remarkable statue.

 

Q5.What is the subject of the article titled “Understanding The Indian Ocean Rim Association (IORA) And Its Significance”?

  1. Indian Ocean Climate Patterns
  2. Indian Ocean’s Marine Life
  3. Indian Ocean Rim Association (IORA)
  4. Indian Ocean Trade Routes

Ans:-3)Indian Ocean Rim Association (IORA)

  • The Indian Ocean Rim Association (IORA) recently held its Council of Ministers meeting in Colombo on October 11, garnering attention from countries across the globe. Its origins can be traced back to a speech delivered by former South African President Nelson Mandela during his visit to India in 1995.
  • Comprising 23 member nations and 11 dialogue partners, IORA plays a pivotal role in promoting regional cooperation within the Indian Ocean sphere. This encompasses countries from African, West Asian, South Asian, South East Asian, Australian, and Indian Ocean littoral states.
  • The Indian Ocean Region is of immense significance due to its geographical, economic, and strategic relevance. It houses approximately one-third of the world’s population, amounting to 2.6 billion people.

 

Q6.Where did Jaishankar unveil Rabindranath Tagore’s bust?

  1. Japan
  2. Vietnam
  3. Sri Lanka
  4. Thailand

Ans:-3)Vietnam

  • In a recent diplomatic move, India’s External Affairs Minister, S. Jaishankar, unveiled a bust of Nobel Laureate writer and poet Rabindranath Tagore in Bac Ninh city. This gesture symbolizes the deep-rooted historical and cultural connections between the two nations.
  • The inauguration of Tagore’s bust in Bac Ninh city underscores the enduring relationship and mutual esteem that India and Vietnam hold, setting the stage for a promising future in their diplomatic and cultural ties.
  • Indian monks played a pivotal role in introducing Buddhism to Vietnam, establishing a shared spiritual heritage. A living testament to the longstanding bonds between India and Vietnam is the Bodhi tree, a gift from President Rajendra Prasad to President Ho Chi Minh in 1959.

 

Q7.Which political party in Telangana unveiled a manifesto for the underprivileged?

  1. Bharatiya Janata Party (BJP)
  2. Telangana Rashtra Samithi (TRS)
  3. Indian National Congress (INC)
  4. Communist Party of India (CPI)

Ans:- 2)Telangana Rashtra Samithi (TRS)

  • The Bharat Rashtra Samithi (BRS) has recently revealed its manifesto, pledging an array of transformative measures aimed at enhancing the well-being of underprivileged citizens. During a press conference held on October 15th, party president and Chief Minister K. Chandrashekar Rao elucidated on these promises, emphasizing their dedication to uplift the marginalized segments of society.

 

Q8.Which Indian state recently got its first 3D-printed building in just 28 days?

  1. Kerala
  2. Maharashtra
  3. Tamil Nadu
  4. Karnataka

Ans:-1)Kerela

  • Kerala has achieved a remarkable feat in the realm of construction with the introduction of Amaze-28, the state’s inaugural building constructed through 3D printing technology. This pioneering architectural marvel, featuring a 380-square-foot, single-room summer house, was unveiled at the Kerala State Nirmithi Kendra (Kesnik) campus in PTP Nagar, Thiruvananthapuram.
  • Amaze-28’s construction entailed a mere 28 hours of 3D printing, while the remaining components, including windows and roofing, were fashioned using conventional methods. The chief advantage of this technology lies in its unprecedented speed.

Q9.Why did RBI impose a ₹1 crore penalty on Union Bank?

  1. Violation of Customer Privacy
  2. Inadequate Capital Reserves
  3. Non-Compliance with Banking Regulations
  4. Mishandling of Government Funds

Ans:-3) Non-Compliance with Banking Regulations

  • The Reserve Bank of India (RBI) has taken a strict stance against non-compliance with its regulatory directives, resulting in penalties for Union Bank of India, RBL Bank, and Bajaj Finance. These entities have faced penalties for various violations of RBI’s regulatory guidelines.
  • Union Bank of India has incurred a penalty of ₹1 crore for its failure to adhere to the regulatory guidelines on ‘Loans and Advances – Statutory and Other Restrictions.’
  • RBL Bank has been fined ₹64 lakh for its non-compliance with RBI’s regulatory approval norms regarding the acquisition of shares or voting rights in private sector banks. Meanwhile, Pune-based Bajaj Finance also faces a penalty of ₹8.50 lakh for breaching regulatory norms concerning the reporting of specific fraud cases to the RBI.

 

Q10.How much did PMJDY add to the total balance in H1?

  1. ₹10,000 Crore
  2. ₹20,000 Crore
  3. ₹30,000 Crore
  4. ₹40,000 Crore

Ans:-3) ₹30,000 Crore

  • The Pradhan Mantri Jan Dhan Yojana (PMJDY) has achieved remarkable success, benefiting over 50 crore individuals and witnessing a substantial surge in the overall account balance. The scheme’s effectiveness in promoting financial inclusion, especially in the post-Covid-19 era, is evident.
  • In the first half of the current fiscal year, the cumulative balance in PMJDY accounts saw a notable rise, reaching ₹2.05 lakh crore as of October 4, 2023, with an increase of ₹30,000 crore. The number of beneficiaries has surged by over 3.5 crore in the past year, from 47 crore to 50.63 crore, indicating a consistent upward trajectory in new enrollments.
  • Among these accounts, public sector banks manage 40 crore, with a collective balance of ₹1.60-lakh crore, while the remainder is held by regional rural banks, co-operative banks, and private sector banks. The integration of PMJDY with various government schemes and Direct Benefit Transfers (DBTs) further enhances its attractiveness among beneficiaries.