Current Affairs For 19th October

Current affairs coverage goes beyond just reporting facts. It offers analysis, background information, and context to help individuals understand the underlying causes, implications, and perspectives surrounding various events. This enables individuals to form more informed opinions and make sense of complex issues.

 

Q1.What is the amount that India plans to invest in infrastructure by 2030?

1. ₹43 Lakh Crore
2. ₹93 Lakh Crore
3. ₹113 Lakh Crore
4. ₹143 Lakh Crore

Ans:- 4)₹143 Lakh Crore

• India is poised for a significant surge in infrastructure expenditure, with plans to invest nearly ₹143 lakh crore between fiscal years 2024 and 2030. This amount is over twice the ₹67 lakh crore spent on infrastructure in the past seven financial years starting from 2017.
• A noteworthy feature of this investment is that ₹36.6 lakh crore will be dedicated to green projects. This constitutes a fivefold increase in comparison to the amount expended on sustainability-focused initiatives between fiscal years 2017 and 2023. This emphasis on green investments underscores India’s unwavering dedication to environmental sustainability.
• The hydrogen sector is anticipated to draw substantial investments, estimated at ₹1.5 lakh crore between fiscal years 2024 and 2030. Mandates promoting green hydrogen utilization and incentive programs will hold pivotal roles, given that the production cost of green hydrogen is twice that of fossil-based hydrogen.

 

Q2.Who launched IndiaSkills 2023-24 in New Delhi?

1. Narendra Modi
2. Amit Shah
3. Dharmendra Pradhan
4. Rajnath Singh

Ans:-3)Dharmendra Pradhan

• The Ministry of Skill Development & Entrepreneurship has introduced the IndiaSkills 2023-24 program, celebrating the outstanding achievements of the winners at WorldSkills 2022. India, securing the 11th position in the global competition last year, is now set to make significant advancements in skill development.
• Union Minister Dharmendra Pradhan emphasized the need to expand participation and boost the skill development ecosystem, highlighting the importance of competencies over conventional degrees. He stressed the significance of introducing practical skills, which would augment the workforce’s acceptance in the job market.
• Additionally, the Union Minister extended his congratulations to 18 candidates from India for their exceptional performance at the World Skills Competition 2022 Special Edition. India’s participation across 50 skills resulted in an admirable 11th position, accompanied by 2 Silver Medals, 3 Bronze Medals, and 13 Medallions for Excellence.

 

Q3.After how many decades has the India-Sri Lanka Ferry Service reopened?

1. Two Decades
2. Three Decades
3. Four Decades
4. Five Decades

Ans:-3) Four Decades

• The long-standing sea route connecting India and Sri Lanka has been reinvigorated with the introduction of a passenger ferry service from Nagapattinam in Tamil Nadu to Kankesanthurai in Jaffna, Northern Sri Lanka. The passenger ferry, named ‘Cheriyapani,’ was officially inaugurated on a Saturday.
• A one-way ticket for this high-speed craft is priced at approximately Rs 7,670, coupled with a generous baggage allowance of up to 40 kg per passenger. The journey embarks from Nagapattinam at 7 am, arriving at Kankesanthurai by 11 am. The return trip sets off at 1.30 pm, reaching Nagapattinam by 5.30 pm.
• The reinstatement of the passenger ferry service holds significant potential for the region. By offering an additional mode of transportation, it has the capacity to enhance religious tourism in the coastal areas of both India and Sri Lanka.

 

Q4.What does the term ‘IRON BEAM’ refer to?

1. A new type of steel alloy
2. An advanced missile defense system
3. A high-speed train technology
4. A renewable energy project

Ans:-2)An advanced missile defense system

• The long-standing sea route connecting India and Sri Lanka has been reinvigorated with the introduction of a passenger ferry service from Nagapattinam in Tamil Nadu to Kankesanthurai in Jaffna, Northern Sri Lanka. The passenger ferry, named ‘Cheriyapani,’ was officially inaugurated on a Saturday.
• A one-way ticket for this high-speed craft is priced at approximately Rs 7,670, coupled with a generous baggage allowance of up to 40 kg per passenger. The journey embarks from Nagapattinam at 7 am, arriving at Kankesanthurai by 11 am. The return trip sets off at 1.30 pm, reaching Nagapattinam by 5.30 pm.
• The reinstatement of the passenger ferry service holds significant potential for the region. By offering an additional mode of transportation, it has the capacity to enhance religious tourism in the coastal areas of both India and Sri Lanka.

 

Q5.Who visited Israel amid an ongoing conflict?

1. Boris Johnson
2. Emmanuel Macron
3. Joe Biden
4. Justin Trudeau

Ans:- 3) Joe Biden

• United States President Joe Biden is scheduled to visit Israel amidst an ongoing conflict with Hamas fighters. This trip has been confirmed by US Secretary of State Anthony Blinken, and the White House has released an official statement expressing strong support for Israel.
• Biden’s visit follows a breach of Israel’s heavily fortified Gaza border by Hamas fighters, leading to a surprise attack. In response, Israel’s Prime Minister Benjamin Netanyahu declared war on Hamas, resulting in significant casualties and destruction.
• During his visit, President Biden will hold discussions with Israel’s Prime Minister Netanyahu in Tel Aviv. Subsequently, he will travel to Jordan’s capital, Amman, to explore options for increasing humanitarian aid to Gaza. In Amman, he will also meet with Jordan’s King Abdullah, Egyptian President Abdel Fattah el-Sisi, and the Palestinian Authority President Mahmoud Abbas, who opposes Hamas and governs the West Bank.

 

Q6.What did UP CM Yogi Adityanath announce for Ujjwala Scheme beneficiaries?

1. Free Electricity
2. Free Gas Cylinder
3. Free Water Supply
4. Free Mobile Phones

Ans:- 2) Free Gas Cylinder

• Uttar Pradesh Chief Minister Yogi Adityanath made a significant announcement regarding the Ujjwala scheme. Every beneficiary of the scheme will receive a complimentary cooking gas cylinder as a special Diwali gesture. This gift holds immense importance for the Ujjwala scheme beneficiaries, signifying a crucial step towards enhancing the lives of the underprivileged.
• This announcement was made during an event in Bulandshahr, where Chief Minister Adityanath not only shared this heartening news but also inaugurated and laid the foundation stones for a range of development projects amounting to a substantial Rs 632 crore.
• Additionally, Chief Minister Adityanath lauded the impact of the ‘Beti Bachao Beti Padhao’ campaign. This initiative has reached a point where accomplished women like Parul Chaudhary and Annu Rani have secured gold medals in the Asian Games, bringing honor to both the nation and the state of Uttar Pradesh.

 

Q7.What did PM Modi unveil for India’s maritime economy?

1. Short Term Plan
2. Mid Term Blueprint
3. Long Term Blueprint
4. Economic Stimulus Package

Ans:-3)Long Term Blueprint

• Prime Minister Narendra Modi inaugurated a series of significant maritime projects, including the unveiling of a long-term vision document for the blue economy. These initiatives are aligned with the ‘Amrit Kaal Vision 2047’ for the Indian maritime blue economy.
• The vision document outlines strategic initiatives aimed at enhancing port facilities, promoting sustainable practices, and facilitating international collaboration. The Prime Minister laid the foundation stone of the Tuna-Tekra all-weather deep-draft terminal, to be built at a cost of more than Rs 4,500 crore at Deendayal Port Authority in Gujarat.
  The greenfield terminal, developed through a public-private partnership (PPP) mode, is expected to emerge as an international trade hub. The Prime Minister also dedicated more than 300 Memorandums of Understanding (MoUs) worth more than Rs 7.16 lakh crore for global and national partnerships in the maritime sector.

 

Q8.Which institution imposed a monetary penalty on four cooperative banks and one HFC?

1. RBI
2. SBI
3. PNB
4. BOB

Ans:-1)RBI

• The Reserve Bank of India (RBI) has recently taken punitive measures against several financial institutions in Gujarat for non-compliance with established banking regulations. These actions include:

1. Gujarat Mercantile Co-operative Bank Ltd. faced a penalty of ₹4.50 lakh due to violations of RBI directives pertaining to deposit placement, Cash Reserve Ratio (CRR), exceeding inter-bank exposure limits, and failure to maintain the minimum CRR on certain days.

2. Nagarik Sahakari Bank Ltd. incurred a penalty of ₹2.00 lakh for contravening specific sections of the Banking Regulation Act, 1949.

3. Makarpura Industrial Estate Co-operative Bank Ltd. received a ₹2.00 lakh penalty for non-compliance in transferring eligible funds to the Depositor Education and Awareness Fund and for sanctioning a loan with a relative of a bank director as guarantor.

4. The Sevalia Urban Co-operative Bank Ltd. was fined ₹50,000 for not adhering to RBI directives regarding loans and advances.

5. West End Housing Finance Limited faced a penalty of ₹1.70 lakh for failing to comply with National Housing Bank (NHB) directions on shareholding changes and for making shareholding alterations without obtaining prior written permission from NHB or RBI, thereby surpassing permitted limits.

 

Q9. What regulatory approval did IDFC receive for its merger with IDFC First Bank?

1. SEBI Approval
2. RBI Approval
3. CCI Approval
4. NSE Approval

Ans:- 3) CCI Approval

• On October 17, 2023, the Competition Commission of India (CCI) granted its approval for the merger of Infrastructure Development Finance Company (IDFC) and IDFC First Bank, as stated in a regulatory filing. This development follows Housing Development Finance Corporation (HDFC) successfully concluding its merger with HDFC Bank on July 1. As of June 30, 2023, IDFC held a 30.93 percent stake in IDFC First Bank through its non-financial holding company. Both entities have set their sights on finalizing the merger within the current fiscal year and have mutually settled on a share exchange ratio of “155:100”. This signifies that for every 100 shares of IDFC, shareholders will be allocated 155 shares of IDFC First Bank.

 

Q10.How much equity stake is the government planning to sell in Hudco through the Offer for Sale (OFS) process?

1. 5%
2. 7%
3. 10%
4. 15%

Ans:- 2) 7%

• The Indian government has unveiled its plan to sell a 7% equity stake in Housing and Urban Development Corp. Ltd (Hudco) through an offer for sale (OFS) scheduled for October 18-19. This strategic move is anticipated to yield approximately ₹1,100 crore in revenue.
• The OFS will kick off on October 18 for non-retail investors, followed by retail investors on the subsequent day. The government aims to divest 7% equity, inclusive of a green shoe option of 3.5%.
• The floor price for the offer has been fixed at ₹79 per share, representing a 12% reduction from the closing price of ₹89 on the BSE as of the preceding Tuesday. Around 140 million shares will be made available for purchase, amounting to a total value of approximately ₹1,106 crore. Notably, Hudco, in a filing with the BSE, confirmed that there will be no retail discount provided for the OFS.