Important Weekly Current Affairs PDF Download (Oct 15th to 21st Oct 2024)

Dear Readers, Here we have given the list of Important Weekly Current Affairs of Oct 15th to 21st Oct 2024. Candidates those who are preparing for Upcoming SBIClerk 2024 and other competitive exams can make use of it.

CURRENT AFFAIRS : BANKING & FINANCE

• The Reserve Bank of India (RBI) issued the “Guidance Note” aimed at regulated entities (REs), including banks, Non-Banking Financial Companies (NBFCs), authorized persons, and payment system operators.
• The Securities and Exchange Board of India (SEBI) is considering allowing mutual funds (MFs) to launch a new category of actively managed commodity funds that invest entirely in exchange-traded commodity derivatives (ETCDs).
• Public-sector lender Indian Overseas Bank (IOB) has inaugurated 8 new Retail Loan Processing Centres (RLPCs) across India.
• Navi, a fintech company founded by Sachin Bansal, has become India’s 5th-largest player in the Unified Payments Interface (UPI) ecosystem.
• Life Insurance Corporation of India (LIC) has reduced the maximum age limit for purchasing the new endowment plan from 55 years to 50 years, effective October 1, 2024.
• Foreign banks and brokerages anticipate that the Reserve Bank of India (RBI) will initiate a “shallow rate-cutting cycle” starting in December 2024, with an aggregate reduction of 50 basis points (bps).
• The State Bank of India (SBI) plans to increase the threshold for its instant loan scheme for the MSME (Micro, Small, and Medium Enterprises) sector from the current limit of ₹5 crore to enhance credit availability.
• India’s Gross domestic product (GDP) is projected to grow at 95% in FY25, according to forecasts by 28 agencies, which is 25 basis points lower than the Reserve Bank of India’s (RBI) forecast of 7.2%.
• The State Bank of India (SBI) has extended the Amrit Kalash and Amrit Vrishti fixed deposit schemes until March 31, 2025.
• The Reserve Bank of India (RBI) is proposing a new feature for RTGS (Real-Time Gross Settlement) and NEFT (National Electronic Funds Transfer) that allows remitters to verify the recipient’s name before executing payments.
• Quantum Mutual Fund and Manu Rishi Guptha, minority shareholders of ICICI Securities, challenged the delisting plan.
• The Reserve Bank of India (RBI) has proposed setting up a data repository to monitor climate-related risks, known as the Reserve Bank – Climate Risk Information System (RB-CRIS).
• The Reserve Bank of India (RBI) has barred banks and non-banking financial companies (NBFCs) from levying foreclosure charges or pre-payment penalties on floating rate term loans sanctioned to Micro and Small Enterprises (MSEs).
• Jio Payments Bank, a subsidiary of Jio Financial Services, has obtained a mutual fund distribution license from the Association of Mutual Funds in India (Amfi).
• The National Bank for Agriculture and Rural Development (NABARD) conducted the second All India Rural Financial Inclusion Survey (NAFIS) for the agricultural year 2021-22.
• Mastercard inaugurated a state-of-the-art Tech Hub in Pune,Maharashtra, India, aimed at supporting growth and innovation within the company.
• Reserve Bank of India (RBI) Governor Shaktikanta Das emphasized that while Artificial Intelligence (AI) and machine learning (ML) offer opportunities for growth in the financial sector, excessive dependence on these technologies could threaten financial stability.
• The Reserve Bank of India (RBI) has mandated credit institutions (CIs) to provide credit information of onboarded borrowers to credit information companies (CICs) before:
• The cancellation of their license.
• The shutdown of operations.
• The completion of the borrower’s loan cycle, whichever occurs first.
• International Finance Corporation (IFC), part of the World Bank Group, has partnered with Axis Bank to provide a $500 million (approx. ₹4,200 crore) loan.
• Bank of Baroda (BoB) launched the ‘bob Masterstroke Savings Account’ tailored for high-end customers.
• Cricket legend Sachin Tendulkar was appointed as BoB’s global brand ambassador.
• The Reserve Bank of India (RBI) has proposed that banks should not use group entities to circumvent regulations applicable to them, as per a draft circular on ‘forms of business and prudential regulations for investments.’
• The Reserve Bank of India (RBI) is closely monitoring the slowing of foreign investment in fully accessible government bonds (FAR) due to global market volatility impacting local debt markets.
• 50 new third-party application providers (TPAPs) are eager to join the Unified Payments Interface (UPI) despite the absence of a merchant discount rate (MDR).
• Tata Digital has collaborated with Tata AIA Life Insurance to offer life insurance products on the Tata Neu platform.
• The World Bank has projected India’s economic expansion at 7% for FY25, driven by robust agricultural output and policies aimed at increasing employment growth.
• The Reserve Bank of India (RBI) conducted a buyback auction, accepting bids worth Rs 24,934.4 crore, just under the notified amount of Rs 25,000 crore.
• The Reserve Bank of India (RBI) has taken significant action against four Non-Banking Financial Companies (NBFCs):
  • Asirvad Micro Finance Limited
  • Arohan Financial Services Limited
  • DMI Finance Private Limited
  • Navi Finserv Limited
• The Reserve Bank of India (RBI) widened access to its Negotiated Dealing System-Order Matching (NDS-OM) electronic trading platform to more regulated entities (REs).
• According to a Reserve Bank of India (RBI) survey, India’s total exports of software services, including services delivered by foreign affiliates of Indian companies, increased to $ 205.2 billion during 2023-24 from $ 200.6 billion in the previous fiscal.
• The Reserve Bank of India (RBI) has lifted the ban on JM Financial Products, allowing it to resume financing activities, including loans for shares, debentures, and initial public offering (IPO) subscriptions.
• Several state-owned banks, including Central Bank of India, Canara Bank, Indian Overseas Bank, Bank of Baroda, and Punjab National Bank, have waived processing fees on home loans to attract demand during the festive season, ranging from December 2024 to March 2025.
• The World Bank and the Asian Development Bank (ADB) have committed a total of $1.6 billion (₹13,600 crore) for the Phase-I development of Amaravati, the capital city of Andhra Pradesh.
• The Reserve Bank of India (RBI) imposed a penalty of Rs 28.30 lakh on SG Finserve Limited (formerly known as Moongipa Securities).
• The New Development Bank (NDB) has approved the Himachal Pradesh Ropeways Corporation to float advance tenders for the construction of the Shimla ropeway project valued at ₹1,734 crore.
• PhonePe has collaborated with Bajaj Allianz General Insurance to offer an affordable firecracker-related accident insurance policy for Diwali.

CURRENT AFFAIRS: NATIONAL NEWS

• DigiLocker, a secure cloud platform for storing and verifying documents, has integrated with the UMANG app to provide streamlined access to various government services.
• India’s ship recycling industry is projected to grow significantly, reaching 8-4.2 million GT (gross tonnage) in 2025, up from an estimated 2.3-2.6 million GT in 2024, according to a CareEdge report.
• Prime Minister Narendra Modi has completed 3 years of the PM GatiShakti National Master Plan, highlighting its transformative impact on India’s infrastructure development.
• Australia has introduced a new First Work and Holiday visa (subclass 462) for Indian citizens, enabling young Indians aged 18 to 30 to work and holiday in Australia for up to one year.
• As air pollution worsens, especially in the NCR region, and more people purchase air purifiers, Consumer Affairs Minister Pralhad Joshi raised concerns about misleading claims made by some manufacturers.
• The Central Electricity Authority (CEA) is developing a national scheme for power distribution as part of India’s push to meet rising electricity demand through renewable energy.
• Telecommunications Consultants India Limited (TCIL) marked its 46th Foundation Day on 15th October 2024 at the SCOPE Convention Center, New Delhi.
• South Eastern Coalfields Limited (SECL), a Chhattisgarh-based subsidiary of Coal India, inaugurated the 216th AMRIT (Affordable Medicines and Reliable Implants for Treatment) Pharmacy at the Health Centre in Indira Vihar Colony, Bilaspur.
• The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved increasing Minimum Support Prices (MSP) for all mandated Rabi crops for the 2025-26 marketing season.
• The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a significant multi-tracking railway project with an estimated cost of ₹2,642 crore.
• The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the development of the National Maritime Heritage Complex (NMHC) at Lothal, Gujarat.
• The Union Cabinet, led by Prime Minister Narendra Modi, has sanctioned a significant infrastructure project aimed at enhancing road connectivity in the border areas of Rajasthan and Punjab.
• Commerce and Industry Minister Piyush Goyal launched a district master plan under the PM GatiShakti initiative to enhance infrastructure planning in 27 aspirational districts across India.
• The Central Board of Direct Taxes (CBDT) has issued a Guidance Note in the form of Frequently Asked Questions (FAQs) to address queries from stakeholders regarding the Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024.
• The Government of India has announced the establishment of three Centres of Excellence (CoE) in Artificial Intelligence (AI), focusing on healthcare, agriculture, and sustainable cities.
• The PM Suryaghar Yojana, launched by Prime Minister Narendra Modi in February 2024, is making significant strides in expanding rooftop solar power across India.
• The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved an additional 3% increase in Dearness Allowance (DA) for Central Government employees and Dearness Relief (DR) for pensioners.
• The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the continuation of the Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA)
• Indian Railways has unveiled a significant update to its advanced train ticket reservation system, allowing passengers to book tickets 60 days in advance starting from November 1, 2024.
• A Constitution Bench of the Supreme Court, in a 4:1 majority judgment, has upheld the constitutionality of Section 6A of the Citizenship Act, 1955, which allows immigrants from Bangladesh residing in Assam to secure Indian citizenship.
• The Directorate General of Civil Aviation (DGCA) has issued a completion certificate for the landing and takeoff calibration at Noida Airport, setting the stage for runway trials to commence shortly.
• The Delhi Development Authority (DDA) is nearing completion of its Urban Extension Road (UER)-II Project, set to fully operationalize by December this year, with a total cost of Rs 3,600 Crore funded by DDA.
• Prime Minister Narendra Modi chaired a high-level meeting in Chandigarh with Chief Ministers and Deputy Chief Ministers from the National Democratic Alliance (NDA).
• The Central Government, led by Labour Minister Mansukh Mandaviya, is working on a framework to provide social security for gig and platform workers without placing them under the traditional employer-employee
• The government is evaluating ways to tighten the import authorisation and management system for laptops, PCs and tablets to make imports more restricted through appropriate guidelines to be implemented on January 1, 2025.
• The Department of Telecommunications (DoT) is evaluating a proposal to reduce the tenure of spectrum leased to telecom operators from 20 years to 10 years.

CURRENT AFFAIRS : INTERNATIONAL NEWS

• President Droupadi Murmu’s visit to Algeria, Mauritania, and Malawi was the first Indian President to visit these three African nations.
• Nicaragua’s government, led by Vice President Rosario Murillo, has officially declared the suspension of diplomatic relations with Israel following a congressional resolution.
• The World Health Organization (WHO) declared India free from Trachoma as a public health problem in 2024.
• Prime Minister Shri Narendra Modi attended the 19th East Asia Summit (EAS) on 11 October 2024 in Vientiane, Lao PDR.
• External Affairs Minister S. Jaishankar called for an “honest conversation” about the lack of trust and neighbourly ties within the Shanghai Cooperation Organisation (SCO), implicitly criticizing China and Pakistan regarding issues of territorial integrity and terrorism.
• Sri Lanka’s newly-appointed Foreign Minister Vijitha Herath announced Sri Lanka’s intention to apply for membership in BRICS (Brazil-Russia-India-China-South Africa) and the New Development Bank.
• The new labour rules in Saudi Arabia — under a digital platform called Musaned — will benefit at least 10 African countries and 9 Asian countries including India, Bangladesh, Pakistan, Vietnam, Philippines and Sri Lanka.

CURRENT AFFAIRS : STATE NEWS

• The Odisha government has launched Gramodaya, a new scheme to ensure that welfare programmes reach people living in the Left Wing Extremism (LWE)-affected districts.
• The Delhi government has imposed a complete ban on the manufacturing, storage, selling, and bursting of all kinds of firecrackers, including online sales, effective until January 1, 2025.
• Jubilant Ingrevia, based in Gujarat, has been recognized as the latest Indian company to join the World Economic Forum’s (WEF) Global Lighthouse Network.
• The Gujarat government has announced the creation of a Caracal Breeding and Conservation Center in the Chadva Rakhal region of Kutch.
• Priyank Kharge, Minister of Information Technology and Biotechnology, announced that Karnataka aims to become the gaming and animation capital of India and Asia during the Indian Gaming Convention (IGC) in New Delhi.
• Karnataka Chief Minister Siddaramaiah announced the implementation of the Cauvery Stage VI project to secure Bengaluru’s future water needs.
• The honorarium for women under the Maiyaan Samman Yojana will be increased from Rs 1,000 to Rs 2,500, effective December 2024.
• The Karnataka government, led by CM Siddaramaiah, has renamed all government residential schools in the state Maharishi Valmiki Residential Schools.
• The Uttarakhand Madrasa Education Board (UMEB) has announced a plan to introduce Sanskrit as a compulsory subject in 416 registered madrassas across the state, benefiting over 70,000 students.
• Karnataka is set to introduce a 1-2% welfare fee on transactions conducted through aggregator platforms (e.g., Zomato, Swiggy, Ola, Uber, Rapido, Amazon, Flipkart) to support gig workers.
• The Haryana Cabinet, led by Nayab Singh Saini, held its first meeting and announced the implementation of the Supreme Court’s order regarding the sub-classification of Scheduled Castes, effective immediately.
• The first cabinet meeting of the Omar Abdullah government in Jammu and Kashmir was held.

CURRENT AFFAIRS: BUSINESS NEWS

• Reliance Industries reported a 3% drop in net profit for Q2 FY25, reaching Rs 19,323 crore, which was in line with analysts’ expectations.
• BSNL, the state-run telecom company, will complete the rollout of its indigenously developed 4G technology by May 2024 using 1 lakh base stations.
• Adobe has introduced its first AI video generator, Firefly Video Model, expanding its family of creative generative AI models to include video production.
• India’s coal imports surged by 11.4% to 121.1 million tonnes (MT) during the April-August period of the current fiscal year compared to 108.7 MT in the same period last year, according to data from mjunction, a B2B e-commerce platform.
• The NITI Aayog has revised the asset monetisation target for FY25, increasing it by ₹23,000 crore to ₹1.9 trillion.
• Asia Index, a subsidiary of BSE, has introduced a new thematic index called the BSE Premium Consumption Index, aimed at enabling investors to tap into the future of consumption in India.

CURRENT AFFAIRS: MOUS AND AGREEMENT

• India is set to sign a major $3.3 billion (Rs 28,000 crore) defence deal with the United States for 31 MQ-9B Predator drones.
• The Spices Board of India, under the Ministry of Commerce & Industry, has signed a Memorandum of Understanding (MoU) with the Directorate of Horticulture and Food Processing, Government of Uttarakhand, to promote sustainable agricultural practices in the state.
• India is ramping up its trade negotiations with Australia and ASEAN to finalize key trade agreements and address tariff asymmetries, aiming to strengthen its international economic ties before election cycles in partner countries potentially delay progress.
• Chinese Premier Li Qiang inaugurated the Gwadar International Airport in Pakistan’s Balochistan province, marking a significant step in the ongoing China-Pakistan Economic Corridor (CPEC) project.
• India has taken a major step in enhancing its military capabilities by signing a $4 billion deal with the United States to acquire 31 MQ-9B Predator drones.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

• The Reserve Bank of India (RBI) has approved the merger of Tata Capital, an unlisted entity, with Tata Motors Finance (TMFL), paving the way for the formation of India’s 12th largest non-banking finance company.
• The Competition Commission of India (CCI) has approved Central Bank of India’s acquisition of stakes in Future Generali India Insurance.

Acquisition Details:

• Central Bank of India will acquire:
• 24.91% equity stake in Future Generali India Insurance Company Limited (FGIICL).
• 25.18% equity stake in Future Generali India Life Insurance Company Limited (FGILICL).

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

• At least three former State Bank of India (SBI) executives have been appointed as managing directors and chief executive officers (MD and CEO) of different private sector banks in the past six months.
• Surgeon Vice Admiral Kavita Sahai, SM, VSM assumed charge as Director General Medical Services (Navy).
• Satya Srinivas, a 1991-batch Indian Revenue Service (IRS) officer (Customs & Indirect Taxes), has been appointed as the Chief Executive Officer (CEO) of the Government e-Marketplace (GeM) on an additional charge basis.
• Director General Paramesh Sivamani took over as the 26th Director General of the Indian Coast Guard (ICG).
• Global body World Steel Association (worldsteel) has elected Tata Steel Managing Director (MD) and Chief Executive Officer (CEO) Thachat Viswanath Narendran as its chairman.
• Amit Kumar was selected by the Public Enterprise Selection Board (PESB) for the role of Chairman & Managing Director (CMD) of AI Assets Holding Limited (AIAHL), a Schedule ‘B’ Public Sector Undertaking (PSU).
• Omar Abdullah took oath as the Chief Minister of Jammu and Kashmir marking his second term as Chief Minister (CM).
• Nayab Singh Saini will be sworn in as the 20th Chief Minister of Haryana in Chandigarh.
• Senior diplomat Aishath Azeema is set to replace Ibrahim Shaheeb as the top Maldivian envoy to India.
• Paramesh Sivamani, who specialises in navigation and direction, has taken over as the 26th director general of the Indian Coast Guard.
• MS Dhoni, former Indian cricket captain, announced that his association with Garuda Aerospace, an IPO-bound drone company, continues to flourish.
• Chief Justice of India (CJI) D.Y. Chandrachud has recommended Justice Sanjiv Khanna as his successor.
• Prasun Sikdar has been appointed as the first Managing Director & Chief Executive Officer (MD & CEO) of the Bima Sugam India Federation for a three-year term.

CURRENT AFFAIRS: AWARDS AND HONOURS

• The Nobel Prize 2024 announcements began on October 7 with the award for Physiology or Medicine, and will continue through October 14 across six categories
• Nikita Porwal, from Ujjain, Madhya Pradesh, has been crowned Femina Miss India World 2024.
• Indian Space Research Organisation (ISRO) announced that its Chairman S. Somanath has received the International Astronautical Federation’s (IAF) prestigious World Space Award for Chandrayaan-3’s remarkable achievement.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

• The newly operationalised Anusandhan National Research Foundation (ANRF) announced the launch of the first two of its initiatives– the Prime Minister Early Career Research Grant (PMECRG) and the Mission for Advancement in High-Impact Areas -Electric Vehicle (MAHA- EV) Mission.
• Union Minister of State (Independent Charge) for Science and Technology, Dr. Jitendra Singh addressed the 11th India-Sweden Innovation Day (ISID), focusing on bilateral collaboration between India and Sweden in innovation and technology.
• The National Space Commission has cleared India’s fifth lunar mission, named the Lunar Polar Exploration Mission (LUPEX).

CURRENT AFFAIRS : DEFENCE NEWS

• Nirdeshak, the second of four Survey Vessel (Large) ships, was delivered to the Indian Navy on October 8, 2024.
• Hindustan Aeronautics Limited (HAL) has been upgraded to Maharatna status, becoming the 14th Central Public Sector Enterprise (CPSE) to receive this classification in India.
• The Indian Navy Sailing Championship (INSC), the Navy’s largest sailing regatta, will be held at the Indian Naval Academy (INA), Ezhimala, from October 16 to 19, 2024.
• The first ship of the two Multi-Purpose Vessel projects, being built by Larsen & Toubro Limited (L&T), Shipyard for the Indian Navy, was launched on 14 Oct 24 at L&T, Kattupalli.
• The Sea Phase of Exercise MALABAR 2024 commenced on October 14, 2024, off the coast of Visakhapatnam.
• INS Talwar, a frontline stealth frigate of the Indian Navy, arrived at Simon’s Town, South Africa, on 6 October 2024 to participate in IBSAMAR VIII.
• The Indian Army is planning a month-long series of events from October 17 to November 14, 2024 to mark the 62nd anniversary of the Battle of Walong during the 1962 Sino-Indian War.

CURRENT AFFAIRS: RANKING AND INDEX

• India ranks 105th out of 127 countries in the 2024 Global Hunger Index (GHI), placing it in the “serious” category.
• The World Wildlife Fund (WWF) released its 2024 Living Planet Report, highlighting a significant decline in global wildlife populations.
• India’s journey with 5G technology is still evolving, as highlighted in the latest 5G Connectivity Index for Q2 2024, released by GSMA Intelligence.

CURRENT AFFAIRS: SPORTS NEWS

• World No. 1 Jannik Sinner secured the Shanghai Masters title by defeating Novak Djokovic in straight sets, 7-6(4), 6-3.
• Aryna Sabalenka became the first player to win the Wuhan Open three times, defeating local star Zheng Qinwen 6-3, 5-7, 6-3 in a thrilling final.
• Former Indian spinner Neetu David, who holds the record for the best bowling figures (8/53) by a woman in individual Test innings, has been inducted into the ICC Hall of Fame.
• In an impressive performance at the World Cup Final held at the Dr. Karni Singh range in Tughlakabad, Akhil Sheoran clinched the bronze medal in the 50m rifle 3-position event .
• German manager Thomas Tuchel has been named the head coach of the England national soccer team, marking him as the third non-Englishman to take on this prestigious role.
• The Delhi Development Authority (DDA) has revised its membership fees for 17 sports complexes, including the popular Siri Fort complex, effective November 1.
• In a strategic decision, the co-owners of Delhi Capitals, the JSW Group and GMR Group, have implemented a two-year rotational management system for their men’s and women’s teams in the IPL and Women’s Premier League (WPL).
• Captain Ashalata Devi will become the first Indian woman footballer to play 100 international matches when she competes in the opening match of the SAFF Championship against Pakistan.

CURRENT AFFAIRS: IMPORTANT DAYS

• International Day of Rural Women 2024 is observed on the 15th of October 2024 & this year’s theme, “Rural Women Sustaining Nature for Our Collective Future: Building climate resilience, Conserving Biodiversity, and Caring for land towards gender equality and Empowerment,”
• White Cane Safety Day 2024 is observed on the 15th of October 2024. (This day is dedicated to visually impaired people)
• Pregnancy and Infant Loss Remembrance Day 2024 is observed on the 15th of October 2024.
• Global Handwashing Day 2024 is observed on the 15th of October 2024.
• World Students Day 2024 is observed on the 15th of October 2024, to honor the birthday of our former president, the late Dr. APJ Abdul Kalam.
• World Anaesthesia Day is observed on October 16 in remembrance of W.T.G. Morton, who made the first successful official demonstration of ether as an anaesthetic on this date 173 years ago.
• World Food Day 2024 is observed annually on the 16th of October 2024.
• The International Day for the Eradication of Poverty 2024 will be observed on October 17th, focusing on global efforts to eliminate poverty and uphold human rights.

CURRENT AFFAIRS : OBITUARIES

• Indranand Singh Jha, the famous former radio presenter and compere of Akashvani Darbhanga passed away at his ancestral village Chanaur in Darbhanga at the age of 77.
• Israel’s Foreign Minister confirmed that Israeli troops in Gaza have killed Hamas’ top leader Yahya Sinwar, a chief architect of Hamas’ attack on Israel on October 7, 2023 that sparked the Israel-Hamas war.

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