Daily Current Affairs October 08 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

Life Insurance Corporation increases stake in Pune-based Bank of Maharashtra from 4.05% to 7.10%

• State-owned Life Insurance Corporation’s (LIC) stake in Bank of Maharashtra (BoM) increased from 4.05% to 7.10%.
• The increase in stake followed the bank’s Qualified Institutional Placement (QIP) process.

Key Highlights :

• Share Allotment: LIC acquired 3.376% additional equity by being allotted 259.6 million shares at an average cost of ₹57.36 per share.
• Total Funds Raised: Bank of Maharashtra raised ₹3,500 crore through the QIP process.

Top Investors:

• LIC received 42.56% of the total issue size.
• ICICI Prudential Life Insurance received 8.51%.
• Aditya Birla Sun Life received 5.67%.
• Issue Price: The shares were allotted to eligible institutional buyers at ₹57.33 per equity share, slightly below the issue price of ₹60.37 per equity share.

About LIC :

• Founded : 1 September 1956
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Siddharth Mohanty

About BoM :

• Founded ; 16 September 1935
• Headquarters : Pune, Maharashtra, India
• MD & CEO : Nidhu Saxena
• Tagline : One Family One Bank

Asian Development Bank sanctions $162 million loan to enhance infrastructure and boost tourism in Himachal Pradesh

• The Asian Development Bank (ADB) has approved a loan of $162 million to support tourism development in Himachal Pradesh (HP).
• The loan will help unlock the state’s tourism potential through the enhancement of cultural and heritage sites and the creation of new infrastructure aimed at strengthening the tourism sector

Key Highlights :

• Targeted Districts: The Sustainable and Inclusive Tourism Development Project focuses on promoting heritage and cultural sites in Mandi and Hamirpur districts.

Restoration and Infrastructure:

• Historic Naggar Castle in Kullu will be restored.
• Public spaces will be improved.
• A new convention centre will be constructed in Kangra.
• Key Travel Routes: Facilities along Kullu, Hamirpur, and Kangra routes will be upgraded with eco-friendly technologies, including solar-powered lighting and electric vehicles.
• Accessibility and Inclusivity: The project focuses on improving accessibility for the elderly, women, children, and people with disabilities.
• Additional Facilities: Development of wellness centres, recreational facilities, adventure sports hub, and a water park complex are part of the plan.
• Cycling Trails: Introduction of cycling trails and other facilities is expected to create employment opportunities and boost the local economy.
• Tourism Strategy: The project will help develop a comprehensive tourism strategy and marketing plan for the region and assist district-level authorities in tourist site management.

About ADB : 

• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa
• Membership : 68 members, including 49 regional members (countries in Asia and the Pacific) and 19 non-regional members (countries outside the region)

Reserve Bank of India Report Predicts End of Fossil Fuel Dominance in Power Generation by Decade’s End

• According to the latest report of the Reserve Bank of India (RBI), it has estimated that the dominance of fossil fuels in power generation will end by the end of the decade.
• The central bank estimates that renewable energy will contribute more than 50% of global electricity generation as part of a significant energy transition.
• The report highlights the acceleration in the transition to clean energy, noting unprecedented levels of growth in the deployment of and capital investment in clean technologies.
• In addition, the RBI stressed that increasing clean energy generation provides an opportunity to tackle “hard-to-abate” sectors such as steelmaking and aviation, where low-carbon alternatives are still being developed.
• The RBI pointed out that for every dollar invested in fossil fuels in the coming years, approximately three dollars should be allocated to renewable energy.
• This represents a significant change from the current investment ratio, where both sectors receive equal funding.
• Tripping renewable energy capacity by 2030 is considered essential to achieve net-zero emissions targets by mid-century.
• Additionally, the estimated cost of establishing a fully decarbonized global energy system by 2050 will reach approximately US$215 trillion, as indicated by the RBI.

CURRENT AFFAIRS: NATIONAL NEWS

Narendra Modi Completes 23 Years in Public Office

• October 7, 2024 marks 23 years of Narendra Modi’s public service, starting from his tenure as the Chief Minister of Gujarat on October 7, 2001, to his current role as Prime Minister of India.
• His governance has been characterised by implementing numerous welfare programs, both at the state and national levels.

Key Highlights of Modi’s Governance:

• Gujarat Model: Many of the NDA government’s welfare programs at the Centre draw inspiration from Modi’s initiatives during his time as Gujarat’s Chief Minister. Often referred to as the ‘Gujarat Model’, these programs focus on:
  • Water conservation
  • Tree plantation drives
  • Promotion of ethnic products
  • Encouraging sporting culture
  • Celebrating the Constitution

Central to Modi’s governance philosophy has been Jan Bhagidari (people’s participation) in governance, empowering citizens to contribute to the nation’s progress actively.

• Jal Jeevan Mission:
  The Jal Jeevan Mission, launched by PM Modi, is inspired by the Sujalam Sufalam Jal Abhiyan (2004) in water-scarce areas of North Gujarat. The campaign involved:
  • Bringing Narmada river water to Gujarat
  • Interlinking rivers
  • Promoting rainwater harvesting to address the state’s water needs.

Vikas Saptah: Celebrating Gujarat’s Development

The Gujarat government is observing Vikas Saptah starting today, commemorating the state’s development journey since Modi took over as Chief Minister in 2001. As part of this celebration:

• A series of events, including Vikas walks at iconic places, will take place.
• Development projects worth over Rs 3,500 crore will be launched during the week.
• Citizens can participate in the celebrations by sharing their experiences of Modi’s governance under the hashtag #VikasSaptah.

Government Allocates ₹1,000 Crore Venture Fund for Space Startups

• The Indian government has earmarked ₹1,000 crore for a Venture Fund dedicated to space startups, as announced by Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, during a media briefing.
• This initiative is part of the first 100 days of the Modi 3.0 government, highlighting the government’s commitment to prioritizing the space sector.

Key Highlights:

• Focus on Space Sector:
  • The space sector is identified as one of the top priorities of the government in its third term (3.0).
• Opening Up the Space Sector:
  • Four years ago, a revolutionary step was taken to open the space sector to private players.
  • New India Space Limited (NISL) was established as a new PSU, and IN-SPACe India serves as the interface with the private sector.
• Growth in Space Startups:
  • The number of space sector startups has skyrocketed from one to over 200 in a short span.
  • Vikram-S, India’s first private rocket, exemplifies the world-class potential of these startups.
• Achievements in Space Exploration:
  • ISRO was established in 1969, coinciding with Neil Armstrong’s landing on the Moon.
  • India’s Chandrayaan-3 successfully reached the Moon’s South Pole, showcasing India as a leader in the global space sector.
• Investment and Policy Support:
  • The government allows 100% FDI in the space sector, providing a significant boost to new initiatives and entrepreneurs.
  • The overall startup ecosystem in India has surged from 350 in 2014 to over 1.5 lakh, placing India third in the global startup landscape.
• Future Initiatives:
  • The Gaganyaan mission aims to conduct a final test flight with the robot Vyom Mitra by the end of this year or early next year, with plans to send the first Indian human into space in 2025.
• Broader Impact of Space Technology:
  • Space technology is increasingly contributing to various sectors, including agriculture, infrastructure, urban development, and healthcare.
  • Citizens feel a sense of pride as India establishes itself as a significant player in the space domain.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Mr.Joseph R.Biden Hosts Sixth Quad Leaders’ Summit with Prime Ministers of Australia, Japan, and India in Wilmington

• President Joseph R. Biden, Jr. hosted Prime Minister Anthony Albanese of Australia, Prime Minister Kishida Fumio of Japan, and Prime Minister Narendra Modi of India in Wilmington, Delaware, for the 6th Quad or Quadrilateral Security Dialogue Leaders’ Summit.
• The grouping of four democracies –India, Australia, US and Japan is known as the quadrilateral security dialogue or quad.
• The aim of this grouping is to ensure a free and open international order based on the rule of law in the Indo-Pacific.
• Over the past four years, Quad Leaders have met six times, including twice virtually.

Key Highlights :

• The Quad is launching the historic Quad Cancer Moonshot, a collective effort to leverage public and private resources to reduce the number of lives lost to cancer in the Indo-Pacific, with an initial focus on cervical cancer.
• The Quad leaders announced the Maritime Initiative for Training in the Indo-Pacific (MAITRI) to help regional partners effectively utilize tools from the Indo-Pacific Maritime Domain Awareness (IPMDA) and other Quad initiatives.
• IPMDA is a cooperative initiative that aims to improve maritime awareness and response capabilities in the Indo-Pacific region.
• The initiative was announced in May 2022 by the Quad group.
• India will host the inaugural MAITRI workshop in 2025.
• The Quad nations announced plans for the first-ever Quad-at-Sea Ship Observer Mission in 2025, involving the US, Japan, Australia, and Indian Coast Guards to enhance maritime safety and interoperability.
• The leaders launched a Quad Indo-Pacific Logistics Network pilot project to share airlift capacity and leverage their collective logistics strengths.
• This will enable faster and more efficient civilian responses to natural disasters across the Indo-Pacific region.
• In 2025, Quad partners intend to hold the inaugural Regional Ports and Transportation Conference, hosted by India in Mumbai.
• Australia launched the Cable Connectivity and Resilience Centre in July, which is delivering workshops and policy and regulatory assistance in response to requests from across the region.
• India commits to invest $2 million in new solar projects in Fiji, Comoros, Madagascar, and Seychelles.
• The United States, through the DFC, has extended a $250 million loan to Tata Power Solar to construct a solar cell manufacturing facility and a $500 million loan to First Solar to construct and operate a solar module manufacturing facility in India.
• India’s establishment of a space-based web portal for Mauritius, to support the concept of open science for space-based monitoring of extreme weather events and climate impact.
• The United States will host the 2025 Quad Foreign Ministers Meeting, and India will host the 2025 Quad Leaders Summit.

CURRENT AFFAIRS : STATE NEWS

Assam Chief Minister Himanta Biswa Sarma sets target to eliminate child marriage by 2026

• Assam Chief Minister (CM) Himanta Biswa Sarma announced the government’s target to eradicate child marriage in Assam by 2026.
• The announcement coincided with the disbursement of the first instalment under the Mukha Mantri Nijut Moina scheme, which provides monthly financial assistance to girls pursuing higher education.

Key Highlights :

• Financial Outlay: The scheme has a projected outlay of ₹1,500 crore and aims to benefit 10 lakh girl students.

Eligibility and Conditions:

• Girls must remain unmarried until they complete their degree courses to qualify for the payments.
• The scheme excludes daughters of Ministers, MPs, and MLAs.
• Monthly Payments:Beneficiaries will receive ₹1,000 for class XII, ₹1,250 for the first year of graduation, and ₹2,500 for the first year of post-graduation for 10 months.
• Payments will be credited to students’ accounts on the 11th of every month, starting in November.
• Academic Requirements: Beneficiaries must:
• Attend regular classes.
• Maintain good academic performance.
• Demonstrate discipline.
• First Instalment: The first instalment was distributed to 1.6 lakh students identified for the first year, coinciding with the festival of Navratri.
• Focus on Education: The scheme aims to alleviate the economic burden on parents or guardians, thereby encouraging girls to pursue higher education and combat child marriage.
• Post-Graduation Clause: There is no restriction on marriage for girls pursuing post-graduate courses.

About Assam :

• Governor : Shri Lakshman Prasad Acharya
• Chief Minister : Himanta Biswa Sarma
• Capital: Guwahati
• National Park: Kaziranga National Park, Manas National Park, Nameri National Park
• Wildlife Sanctuary: Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary, Bornadi Wildlife Sanctuary

Madhya Pradesh and Uttar Pradesh collaborate to develop 8 GW solar power projects

• Madhya Pradesh (MP) and Uttar Pradesh (UP) governments have partnered to develop 8 gigawatts (GW) of solar power plants.
• First-of-its-kind Partnership: This renewable energy initiative marks a unique collaboration between two Indian states for solar power development.
• Power Sharing Agreement: The solar power generated will be shared between MP and UP, alternating every six months based on peak demand seasons:
• Madhya Pradesh: Peak demand from October to March (aligned with the rabi crop season).
• Uttar Pradesh: Peak demand from April to September (aligned with the kharif crop season).
• Initial Phase: A 2 GW solar project will be developed in the first phase, with Morena (MP) identified as a potential site.

About MP :

• Governor : Mangubhai C. Patel
• Chief Minister : Mohan Yadav
• Capital : Bhopal
• National Park : Bandhavgarh National Park, Kanha National Park, Pench National Park
• Festival : Lokrang Festival, Khajuraho Festival, Bhagoria Haat Festival

About Uttar Pradesh :

• Governor : Anandiben Patel
• Chief Minister : Yogi Adityanath
• Capital : Lucknow
• National Park : Dudhwa National Park
• Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary

CURRENT AFFAIRS: BUSINESS NEWS

India’s Foreign Exchange Reserves Cross $700 Billion Milestone

• India’s foreign exchange reserves (forex) have surpassed the $700 billion mark for the first time, marking a significant achievement as the country becomes the fourth economy globally to reach this milestone, joining China, Japan, and Switzerland.
• The reserves climbed by $12.588 billion to a record $704.885 billion for the week ending September 27, reflecting the largest weekly increase since mid-July 2023.

Key Highlights:

• Increase in Reserves:
  • Forex reserves grew to $704.885 billion.
  • Increase attributed to valuation gains and dollar purchases by the Reserve Bank of India (RBI).
  • Previous week’s reserves had risen by $2.838 billion to $692.296 billion.
• Rupee Strength:
  • The Indian rupee strengthened past 83.50 to the dollar, likely prompting the RBI to bolster reserves.
• 2024 Performance:
  • Reserves have surged by $87.6 billion in 2024, significantly higher than the $62 billion increase seen in the entirety of the previous year.

Composition of Forex Reserves:

• Foreign Currency Assets (FCA):
  • The largest component, increased by $10.468 billion to $616.154 billion.
  • FCA includes appreciation or depreciation effects of currencies like the euro, pound, and yen.
• Gold Reserves:
  • Increased by $2.184 billion to $65.796 billion.
• Special Drawing Rights (SDRs):
  • Up by $8 million to $18.547 billion.
• IMF Reserve Position:
  • Decreased by $71 million to $4.387 billion.

Implications and Insights:

• Economic Stability:
  • The increase in forex reserves strengthens India’s position in the global economic landscape amidst geopolitical vulnerabilities.
  • According to Sanjeev Agrawal, President of PHDCCI, the all-time high forex reserves enhance confidence among trade and industry.
• Protection Against Volatility:
  • The significant forex buffer helps insulate the Indian economy from global shocks.
  • RBI Governor Shaktikanta Das emphasizes the importance of building a forex buffer to safeguard against market volatility.
• Future Projections:
  • Estimates suggest reserves could reach $745 billion by March 2026, providing the RBI with greater flexibility in currency management.

Historical Context:

• Trend Since 2013:
  • India’s forex reserves have been on an upswing since 2013 when the country was classified among the “fragile five” due to weak macroeconomic fundamentals.
  • Stricter inflation control, economic growth, and reduced fiscal and current account deficits have attracted foreign funds, significantly boosting reserves.
• Role of RBI:
  • The RBI actively monitors forex markets, intervening to maintain stability and prevent extreme currency fluctuations.
  • The rupee’s reduced volatility enhances the attractiveness of Indian assets to global investors.

CURRENT AFFAIRS: AWARDS AND HONOURS

Ashokan Charuvil Wins 48th Vayalar Ramavarma Memorial Literary Award

• Ashokan Charuvil has been awarded the 48th Vayalar Ramavarma Memorial Literary Award for his novel Kattoorkadavu.
• This prestigious award, established by the Vayalar Ramavarma Trust, includes a cash prize of ₹1 lakh and a sculpture crafted by renowned artist Kanayi Kunhiraman.

Award Selection Process:

• A judging committee comprising writers Benyamin, Gracy, and literary critic K.S. Ravikumar selected Charuvil for this honour.
• The committee reviewed around 300 books in the initial screening, with six books making it to the final selection round.
• Ultimately, Kattoorkadavu was chosen as the winning work.

About the Novel:

• Kattoorkadavu delves into the social and political upheavals experienced by a village affected by floods.
• Charuvil is also known for his award-winning works, including Oru Rathrikku Oru Pakal, Amazon, and Parichitha Gandhangal.

Award Presentation:

• The award ceremony is set to take place at the Nishagandhi auditorium on October 27.
• The trust’s president, Perumbadavom Sreedharan, will preside over the committee meeting during the event.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Sanjeev Sanyal was appointed as new Chancellor of Gokhale Institute, Pune, succeeding Bibek Debroy

• Sanjeev Sanyal, an economist and member of the Economic Advisory Council to the Prime Minister (EAC-PM), has been appointed as the new chancellor of Pune’s Gokhale Institute of Politics and Economics (GIPE).
• His term will begin on October 7, 2024, and last for five years.
• Bibek Debroy, chairperson of the EAC-PM, resigned from the chancellorship of GIPE amid controversy over the removal of the institute’s Vice-Chancellor (V-C), Ajit Ranade.
• Ajit Ranade, GIPE’s V-C, was dismissed after a fact-finding committee found his candidacy in violation of UGC regulations.
• However, he was granted interim relief by the Bombay High Court, initially until September 23, later extended to October 7, 2024.
• Sanyal served as the Principal Economic Adviser to the Finance Minister for five years until February 2022.
• He co-authored six economic surveys of the Indian government between 2017 and 2022.

About GIPE :

• Established : 1930
• Location : Pune, India

Reserve Bank of India names Aviral Jain as Executive Director

• Aviral Jain has been appointed as Executive Director (ED) of the Reserve Bank of India (RBI) effective from October 01, 2024.
• Prior to his appointment as ED, Jain served as the Regional Director for Maharashtra.
• Responsibilities: In his new role, Jain will oversee several crucial departments within the RBI, including:
• Legal Department
• Premises Department
• Right to Information Act, serving as the First Appellate Authority.
• The new ED has experience of more than three decades in areas of supervision, currency management, foreign exchange regulation and human resource management.

CURRENT AFFAIRS : DEFENCE NEWS

Malabar Maritime Exercise 2024 to be held from October 8 to 18, starting with Harbour Phase in Visakhapatnam, followed by Sea Phase

• Maritime Exercise Malabar 2024 is scheduled to take place from 08 to 18 October 2024, beginning with the Harbour Phase in Visakhapatnam, followed by the Sea Phase.
• Hosted by India, this year’s exercise will see the participation of Australia, Japan, and the United States of America.

About the Exercise :

• Exercise Malabar originated in 1992 as a bilateral naval drill between the United States and the Indian Navy.
• It has since evolved into a key multilateral event aimed at enhancing interoperability and addressing shared maritime challenges in the Indian Ocean and Indo-Pacific regions.
• Indian Naval Platforms: The exercise will feature various Indian naval assets, including:
• Guided missile destroyers
• Multi-purpose frigates
• Submarines
• Fixed-wing maritime reconnaissance aircraft
• Fighter aircraft
• Helicopters
• Participating Assets:Australia: HMAS Stuart (Anzac Class Frigate) with MH-60R helicopter and P-8 Maritime Patrol Aircraft.
• United States: USS Dewey (Arleigh Burke-Class Destroyer) with its integral helicopter and P-8 Maritime Patrol Aircraft.
• Japan: JS Ariake (Murasame-class Destroyer).
• Special Forces Participation: Special Forces from all four nations will be involved in the exercise.
• Focus Areas: Malabar 2024 will emphasize:
• Special operations
• Surface warfare
• Air defense exercises
• Anti-submarine warfare
• Distinguished Visitors’ Day: Scheduled for October 9, 2024, during the Harbour Phase, this event will be hosted by Vice Admiral Rajesh Pendharkar, Flag Officer Commanding-in-Chief of the Eastern Naval Command.
• Joint Press Conference: A Joint Press Conference will be co-chaired by heads of delegations from all participating countries as part of the Harbour Phase.

About Ministry of Defence ;

• Defence Minister : Rajnath Singh
• Minister of State : Sanjay Seth

CURRENT AFFAIRS: MOUS AND AGREEMENT

MoU Between Amazon and Department of Posts (DoP): Strengthening E-commerce and Logistics in India

• Amazon and the Department of Posts (DoP) have been collaborating since 2013, utilizing DoP’s extensive postal network for parcel delivery.
• This partnership aims to empower India’s growing e-commerce sector by enhancing logistical capabilities, supporting job creation, and contributing to economic growth.

Key Highlights of the MoU (Memorandum of Understanding):

1. Objective:
   • The MoU aims to explore opportunities in logistics and business expansion, allowing Amazon to leverage DoP’s network for parcel delivery across India.
2. Increased Collaboration:
   • The agreement focuses on synchronizing logistics operations, knowledge-sharing, and capacity-sharing, enhancing both Amazon’s and DoP’s business operations.
3. Regular Review Mechanism:
   • Quarterly reviews will be conducted by both parties to monitor progress and explore further avenues for strengthening the partnership.

Benefits to Amazon:

• Access to DoP’s Extensive Infrastructure:
  Amazon will gain access to over 1.6 lakh post offices, enabling it to reach even the most remote areas in India.
• Streamlining Logistics:
  This collaboration will enhance Amazon’s logistical capabilities, supporting the growing demands of its e-commerce operations in India.

Benefits to the Department of Posts (DoP):

• Boost to Parcel Business:
  The partnership will help scale up parcel transmission and delivery services for DoP, driving growth in its parcel business.
• E-commerce Logistics Expertise:
  Working with Amazon will enable DoP to enhance its expertise in e-commerce logistics, improving operational efficiency.
• Contribution to India’s Logistics Goals:
  This collaboration aligns with India’s broader objective of becoming a global logistics hub, furthering economic growth.

CURRENT AFFAIRS: SPORTS NEWS

Mumbai Wins Irani Cup 2024/25 After 27 Years

• Mumbai finally lifted the Irani Cup after 27 years by defeating the Rest of India (RoI) on a first-innings lead under the captaincy of Ajinkya Rahane.
• This is Mumbai’s 15th Irani Cup title, marking a significant victory for the team after a long gap.

Match Summary:

First Innings:

• Mumbai won the toss and was invited to bat.
• After an early setback of 37/3, a crucial partnership between Shreyas Iyer and Ajinkya Rahane steadied the innings.
• Young sensation Sarfaraz Khan scored a magnificent double century and led Mumbai to a commanding total of 537 all out.

Second Innings:

• Abhimanyu Easwaran led RoI’s reply with a fighting knock of 191.
• Dhruv Jurel contributed with 93 runs but the rest of the lineup failed to perform, and RoI was bowled out for 416.

Third Innings:

• With a significant first-innings lead, Mumbai declared their second innings at 329/8.
• Prithvi Shaw scored 76 runs, while Tanush Kotian added a crucial century.

Result:

• Mumbai won the match by first-innings lead after the game ended in a draw.

Player of the Match:

• Sarfaraz Khan was named Player of the Match for his double century.

Irani Trophy: An Overview

• The Irani Cup (also known as the IDFC First Bank Irani Trophy due to sponsorship) is an annual first-class cricket competition organized by the BCCI.
• It is contested between the Ranji Trophy champions and the Rest of India team.

Key Facts:

• Introduced: 1960 to commemorate the 25th anniversary of the Ranji Trophy.
• Named After: Zal R. Irani, former president and treasurer of the BCCI.

Most Successful Teams:

• Rest of India: 30 titles
• Mumbai: 15 titles
• Karnataka: 6 titles
• Delhi, Railways, Vidarbha: 2 titles each

Recent Irani Cup Winners (Last 3 Years):

• 2024/25: Mumbai
• 2023/24: Rest of India
• 2022/23: Rest of India

CURRENT AFFAIRS : OBITUARIES

Malayalam Actor Mohan Raj, Known for His Role as ‘Keerikkadan Jose,’ Passed Away

• Veteran actor Mohan Raj, popularly known by his stage name Keerikkadan Jose, passed away at the age of 70.

About Mohan Raj :

• Mohan gained fame for his iconic villainous role as “Keerikkadan Jose” in the film Kireedam, starring Mohanlal.
• Over a career spanning more than three decades, Mohan Raj appeared in over 300 films across different languages.
• His notable works include Uppukandam Brothers, Chenkol, Aaram Thampuran, and Narasimham, among others.
• Some of his other famous works include Uppukandam Brothers, Chenkol, Aaram Thampuran, Narasimham, and Spadikam.
• He Widely recognized for his impactful portrayal of villain characters, leaving a lasting legacy in Malayalam cinema.

CURRENT AFFAIRS: IMPORTANT DAYS

Indian Air Force Day 2024: October 8

• The Indian Air Force Day is celebrated on the 8th of October of every year in India.
• The Indian Air Force was first established on the 8th of October of 1932, so the Indian Air Force Day is celebrated on the 8th of October of every year.
• The first flight of the Indian Air Force came into being on 1 April 1933.
• During the Waziristan war against the tribal, the Indian Air Force went into the brave action for the first time.
• This day is celebrated to raise awareness about the Indian Air Force which works for national security.

Daily CA one- Liner: October 8^th

• October 7, 2024 marks 23 years of Narendra Modi’s public service, starting from his tenure as the Chief Minister of Gujarat on October 7, 2001, to his current role as Prime Minister of India.
• The Indian government has earmarked ₹1,000 crore for a Venture Fund dedicated to space startups, as announced by Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology, during a media briefing
• India’s foreign exchange reserves (forex) have surpassed the $700 billion mark for the first time, marking a significant achievement as the country becomes the fourth economy globally to reach this milestone, joining China, Japan, and Switzerland.
• Ashokan Charuvil has been awarded the 48th Vayalar Ramavarma Memorial Literary Award for his novel Kattoorkadavu.
• State-owned Life Insurance Corporation’s (LIC) stake in Bank of Maharashtra (BoM) increased from 4.05% to 7.10%.
• The Asian Development Bank (ADB) has approved a loan of $162 million to support tourism development in Himachal Pradesh (HP).
• According to the latest report of the Reserve Bank of India (RBI), it has estimated that the dominance of fossil fuels in power generation will end by the end of the decade.
• President Joseph R. Biden, Jr. hosted Prime Minister Anthony Albanese of Australia, Prime Minister Kishida Fumio of Japan, and Prime Minister Narendra Modi of India in Wilmington, Delaware, for the 6th Quad or Quadrilateral Security Dialogue Leaders’ Summit.
• Assam Chief Minister (CM) Himanta Biswa Sarma announced the government’s target to eradicate child marriage in Assam by 2026.
• Madhya Pradesh (MP) and Uttar Pradesh (UP) governments have partnered to develop 8 gigawatts (GW) of solar power plants.
• Sanjeev Sanyal, an economist and member of the Economic Advisory Council to the Prime Minister (EAC-PM), has been appointed as the new chancellor of Pune’s Gokhale Institute of Politics and Economics (GIPE).
• Aviral Jain has been appointed as Executive Director (ED) of the Reserve Bank of India (RBI) effective from October 01, 2024.
• Maritime Exercise Malabar 2024 is scheduled to take place from 08 to 18 October 2024, beginning with the Harbour Phase in Visakhapatnam, followed by the Sea Phase.
• Veteran actor Mohan Raj, popularly known by his stage name Keerikkadan Jose, passed away at the age of 70.
• Amazon and the Department of Posts (DoP) have been collaborating since 2013, utilizing DoP’s extensive postal network for parcel delivery.
• Mumbai finally lifted the Irani Cup after 27 years by defeating the Rest of India (RoI) on a first-innings lead under the captaincy of Ajinkya Rahane.
• The Indian Air Force Day is celebrated on the 8th of October of every year in India