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CURRENT AFFAIRS: IMPORTANT DAYS
7th October 2022: World Cotton Day
- October 7 is celebrated each year as World Cotton Day
- It is a multipurpose plant chiefly used in the textile industry but also in the medical sector, edible oil industry, animal feeds, and bookbinding, among others.
- The theme for 2022’s celebration of World Cotton Day appears to be “Weaving a better future for cotton,” as apparent from the posters released by the Food and Agriculture Organisation of the United Nations (FAO).
History:
- The development and promotion of cotton cultivation are part of the United Nations (UN) Sustainable Development Goals. To meet the goals, the World Trade Organisation (WTO), The United Nations Conference on Trade and Development (UNCTAD), and the International Trade Centre (ITC) undertook a joint initiative on cotton by-products.
- The initiative offers assistance to the “Cotton-4″ nations, which are Benin, Burkina Faso, Chad, Mali, and other cotton-producing countries in Africa, to develop cotton by-products and their markets.
- In response to a formal appeal by the Cotton-4 countries to the United Nations General Assembly (UNGA), on October 7, 2019, the WTO Secretariat, in collaboration with Secretariats of the International Cotton Advisory Committee (ICAC), FAO, UNCTAD, and ITC, hosted the first World Cotton Day (WCD) event in Geneva.
CURRENT AFFAIRS: NATIONAL NEWS
India has left behind Brazil to become the top producer of the sweetener:
- With a bumper sugar production of 35.9 million tons during the October-September season, India has left behind Brazil to become the top producer of the sweetener.
- With this, India has emerged as the world’s largest producer and consumer of sugar as well as the world’s 2nd largest exporter of sugar.
- Brazil produced about 32 million tons of sugar in 2021-22.
- India also produced a record 5,000 lakh metric tons (LMT) of sugarcane during the October-September season, emerging as the world’s largest producer of the sweetener.
- The Union government earlier this year capped sugar exports at 100 LMT from 1 June, anticipating a surge in demand during the festive season that could have driven prices higher.
- The growth of ethanol as a biofuel sector in the last five years has supported the sector.
- During 2021-22, sugar mills/distilleries made Rs. 18,000 crores from the sale of ethanol.
- The ethanol production capacity of molasses/sugar-based distilleries has increased to 605 crore liters per annum.
- The progress aims to meet the target of 20% blending by 2025 under Ethanol Blending with Petrol (EBP) Programme.
The government has modified the ECLGS to enhance the maximum loan amount eligibility for airlines:
- The government has modified the Emergency Credit Line Guarantee Scheme (ECLGS) to enhance the maximum loan amount eligibility for airlines under ECLGS 3.0 to 100% of their fund-based or non-fund-based loan outstanding or ₹1,500 crore, whichever is lower, and of the above ₹500 crores shall be considered, based on equity contribution by the owners.
- All other criteria terms and conditions parameters prescribed under the operational guidelines of the ECLGS on 30 August 2022, shall be applicable.
- In March, the Emergency Credit Line Guarantee Scheme (ECLGS) was extended till March 2023, to implement the announcement made in the Union Budget 2022-23.
- ECLGS was rolled out in 2020 as part of the Centre’s Aatmanirbhar package in
Prime Minister inaugurated the All-India Institute of Medical Sciences at Bilaspur:
- With a promise to increase access to affordable healthcare in Himachal Pradesh in an eco-friendly manner, Prime Minister Narendra Modi inaugurated the All-India Institute of Medical Sciences in the Bilaspur district of Himachal Pradesh.
- He also affirmed that the hospital will run in an environment-friendly manner and will also be known as a ‘Green Hospital’.
- IIMS Bilaspur will not only increase access to affordable healthcare in Himachal but is also eco-friendly and will be known as ‘Green AIIMS.
- The Prime Minister also laid the foundation stone of the Medical Device Park at Nalagarh, which will be built at a cost of about Rs 350 crores.
- MoUs of more than Rs. 800 crores have already been signed for setting up industries in this Medical Device Park.
- The project will significantly enhance employment opportunities in the region.
- Himachal Pradesh is one of the three states chosen for Bulk Drugs Park which will ensure access to affordable medicines in the country. Prime Minister Modi affirmed that Himachal Pradesh played a crucial role in “Rashtra Raksha” and the new AIIMS will play a “pivotal role in Jeevan Raksha” for the people of the state.
- Himachal Pradesh is also one of the four states chosen for Medical Device Park.
- The foundation stone that has been laid in Nalagarh is a part of this.
The government has allocated a budget of 26,000 crores to build 25,000 new telecom towers:
- Telecom Minister Ashwini Vaishnaw, ₹26,000 crores has been approved by the government to install new 25,000 telecom towers in the next 500 days.
- He said the measure was being taken as connectivity was vital for Digital India and its reach to every corner of the country, during the three-day Digital India Conference of State IT Ministers
- The minister also congratulated all states and Union Territories (UTs) for their speedy onboarding at PM Gati Shakti.
- Emphasizing the motto of Sabka Saath and Sabka Vikas, he stated that the commitments from all states and UTs, large as well as small states, are vital in taking Digital India to a higher level and in realizing the Aatmanirbhar Bharat and trillion-dollar Digital Economy.
- MeitY organized three sessions on important aspects such as ‘IT Rules, online gaming, and data governance, ‘Digital India Bhashini and digital payment’, and ‘MyScheme and Meri Pehchaan’.
- The demo on eligibility/profile-based service discovery at MyScheme was shown.
The government has approved the extension of OBPAS under the eChhawani portal:
- The government has approved the extension of the Online Building Plan Approval System (OBPAS) under the eChhawani portal to five more Cantonment Boards, namely Agra, Ranikhet, Babina, Jammu, and Cannanore.
- eChhawani is a citizen-centric project of the Directorate General of Defence Estates, Ministry of Defence.
- Under this initiative, Cantonment Boards provide online citizen services to more than 20 lakh residents across 62 Cantonments in the country.
- The unified portal provides access to civic services along with all relevant information in a simple, easy-to-understand, and effective manner.
- As a step towards facilitating ease of living, over 2.18 lakh property taxpayers living in cantonment areas would be able to apply online for mutation in the property tax register under the eChhawani portal (echhawani.gov.in).
CURRENT AFFAIRS: STATE NEWS
Kerala’s Pullampara Becomes India’s first fully digital literate panchayat
- The Pullampara Panchayat in Kerala’s capital Thiruvananthapuram has become the first ‘fully digital literate panchayat’ in
- Full digital literacy was achieved by Pullampara panchayat’s ‘DigiPullampara’ project, under which some 3,300 residents between the 14-65 age group were given digital education.
About the ‘DigiPullampara’ project :
- The ‘Digi Pullampara project was launched on August 15, 2021, to impart digital education to the most underprivileged sections of society in the panchayat.
- The project was run with the assistance of volunteers from 5 engineering colleges, Kudumbashree units, and other self-help groups.
- The digital literacy program was carried out with the technical support of the Kerala Technical University (KTU).
Digital Literacy & Internet Access :
- Kerala which was the first Indian state to attain 100% literacy also declared access to the internet a basic human right in 2019.
- In 2019 the Kerala Government also announced the launch of KFON, which stands for ‘Kerala Fiber Optic Network,’ a joint venture of the Kerala State Electricity Board and Kerala State IT Infrastructure Ltd to provide an internet connection to every household in Kerala.
- In July 2022, K-FON received the Internet Service Provider (ISP) license from the Department of Telecommunications.
- Over 30,000 government offices in Kerala will also be provided with free internet through the KFON project.
About Kerala :
- Governor: Arif Mohammad Khan
- Chief Minister: Pinarayi Vijayan
- Capital: Thiruvananthapuram
- Dance: Kathakali, Mohiniattam, Chakyar koothu
- Festival: Onam, Thrissur Pooram Festival,
Himachal Pradesh CM Jairam Thakur Launches Satya Nishtha App To Aid Police
- Himachal Pradesh Chief Minister Shri Jai Ram Thakur launched the first-of-its-kind mobile application ‘The Satya Nishtha app, in Dharamshala, Himachal Pradesh (HP) to help investigate and control criminal activities.
- The app was designed under the guidance of Kangra Superintendent of Police Kushal Sharma.
- The app has been brought out at Rs 3.70 lakh.
Key Highlights :
- The app will help police prepare a database of criminals and also study the various offenses that take place under different police stations in the district
- With this app, a database of information on migrant laborers, foreigners, and suspicious persons can be prepared to help speed up investigations in criminal cases.
- The data available in the app can be accessed from anywhere and at any time.
About HP :
- Governor : Rajendra Arlekar
- Chief Minister: Jai Ram Thakur
- Capital: Shimla (Summer), Dharamshala (Winter)
- Festival : Kullu Dussehra, Lohri Festival
- Dance : Rakshasa (demon), Kayang, Bakayang, Chohara
CURRENT AFFAIRS: BANKING & FINANCE
NPCI Signs MoU with Central Bank of Oman to Enable UPI Payments in Oman
- The National Payments Corporation of India (NPCI) and Central Bank of Oman (CBO) signed a historic Memorandum of Understanding (MoU) to launch the Rupay debit card in Oman, paving the way for a new era of financial connectivity.
- This comes after New Delhi and Muscat reached a consensus to expand the Indian digital payment ecosystem to the gulf region.
- The agreement will open the floodgates for Indian RuPay cards and the UPI platform in Oman for seamless digital remittances, a move that is likely to benefit Indian workers and professionals.
- As per the latest NPCI data, UPI transactions in Sep 2022 grew by over 3% to Rs 678 crore from Rs 657 crore in Aug 2022.
- So far countries including Singapore, Nepal, UAE, Bhutan, Malaysia, and France are among the global nations that accept payments through UPI and RuPay Cards.
- While Australia is in advanced talks with India for early integration of UPI with the Australian New Payment Platform.
- Russia has expressed interest in pushing dialogue on accepting the UPI and Faster Payments System (FPS) of the Central Bank of Russia within their respective national payment infrastructures.
- Earlier in September 2021 Liquid Group, a cross-border digital payment service provider signed an agreement with NPCI International Payments Limited (NIPL) to launch a UPI-based QR code payment system in Singapore, Malaysia, Thailand, the Philippines, Vietnam, Cambodia, Hong Kong, Taiwan, South Korea, and Japan beginning in 2022.
Aditya Birla Health Insurance launches Activ Fit health insurance policy for young & healthy adults
- Aditya Birla Health Insurance Co. Limited. (ABHICL), the health insurance subsidiary of Aditya Birla Capital Limited (ABCL), has launched the first of its kind ACTIV FIT health insurance policy, a comprehensive health insurance plan for young and healthy adults.
About ACTIV FIT health insurance policy :
- It provides an upfront 10% good health discount based on an assessment done through a unique facial scan.
- It offers up to 50% health returns on being active for 275 days in a year.
- In case of hospitalization, if they fall short of their insurance coverage, the customer can use the 100% Binge Refill feature.
- This feature enables them to get cover up to sum assured, for any illness/injury.
- The product also includes Modern treatments, Mental Care Cover, HIV/ AIDS and STD, Day Care treatments, pre-hospitalization & post-hospitalization, and road ambulance cover
- Maternity expenses are covered for up to Rs 40,000 and Rs. 60,000 for normal and C-Section deliveries, over and above the base sum insured.
- The road ambulance cover network is based on actual and for non-network hospitals, up to Rs 3,000 per event.
- All customers below the age of 35 years can avail of an Early Bird Discount at renewal, 5% from the 4th to 7th policy year & 10% from the 8th policy year for the lifetime of the policy.
Additional benefits :
- The Consumers can opt, for include, no claim bonus (10% of the sum insured per annum, and a maximum of up to 100%).
- There is also an option for health check-ups, available once during the policy year for insured aged 18 years and above on the start date of the policy.
- The policy also comes with an optional cover of a super no-claim bonus of up to 50% of the sum insured, a maximum of up to 100%.
About Aditya Birla Health Insurance Company Limited :
- Founded: 2015
- Headquarters: Mumbai, Maharashtra
- CEO: Mayank Bathwal
HDFC Life Insurance launches ‘Insure India’ campaign
- HDFC Life Insurance Company has launched the ‘Insure India’ campaign.
Aim :
- To educate Indians on the benefits of life insurance as a product category.
Objective :
- To educate Indians about life insurance thereby motivating them to secure their future with this unique financial product that offers the dual benefits of protection and long-term savings.
- As part of this campaign, HDFC Life will host chat shows, hold on-ground activities, webinars, etc., for engaging with consumers both directly as well as indirectly through its wide network of distributors.
- Previous initiatives of HDFC Life include ‘Start the Talk’, ‘Get Set Protect’, and ‘Being Responsible’ which primarily aimed to educate consumers about life insurance.
About HDFC Life Insurance Company Ltd :
- Founded: 2000
- Headquarters: Mumbai, Maharashtra, India
- MD & CEO : Vibha Padalkar
- It is a joint venture between HDFC Ltd., India’s leading housing finance institution, and abrdn (Mauritius Holdings) 2006 Limited, a global investment company.
JSW Cement secures Rs 400 cr as sustainability-linked loan from MUFG Bank
- JSW Cement has raised Rs 400 crore (USD 50 million) from MUFG Bank India as its first sustainability-linked loan.
- It is the company’s first sustainability-linked loan in the credit line.
- Whereas it is MUFG Bank India’s first transaction undertaken out of its new IFSC unit branch launched in August 2022 in the Gujarat International Finance Tec-City (Gift City), Gandhinagar, Gujarat.
- The funding will enable the company to meet its goal of 25 million tonnes per annum capacity by FY25 and also forms part of its environmental, social, and governance (ESG) objectives.
About JSW Cement Ltd :
- Founded: 2009
- Headquarters: Mumbai, Maharashtra, India
- Managing Director: Parth Jindal
- JSW Cement is India’s leading green cement company.
EXIM Bank extends $100- mn LoC to the Maldives for development projects
- Export-Import Bank of India [Exim Bank], on behalf of the Government of India, has extended a Line of Credit (LOC) of USD 100 million to the Government of the Republic of the Maldives for financing developmental projects.
- The agreement was signed by Maldives’ Minister of Finance Mr. Ibrahim Ameer and Exim Bank’s general manager Mr. Nirmit Ved. India’s Foreign Secretary Mr. V M Kwatra and his Maldivian counterpart Mr. Ahmed Latheef were also present.
- With this, to date Exim Bank has extended 6 (Six) Lines of Credit to the Government of the Republic of Maldives, on behalf of the Government of India, taking the total value of LOCs to USD 1.43 billion.
- Projects covered under the LOCs extended to the Government of the Republic of Maldives include Greater Male Connectivity Project, Water & Sewerage Projects, Addu Development Project, International Cricket Stadium Project, Defence projects, Gulhifalhu Port Project, Hanimaadhoo Airport Project, Gan Airport Project, Fisheries Project, Road Construction Project, and Sports Infrastructure.
- , Currently, Exim Bank has 311 Lines of Credit, covering 67 countries in Africa, Asia, Latin America Oceania, and the CIS, with credit commitments of around USD 32.31 billion, available for financing exports from India.
About EXIM Bank :
- Founded: 1982
- Headquarters: Mumbai, Maharashtra, India
- MD: Harsha Bangari
About the Maldives :
- President: Ibrahim Mohamed Solih
- Capital: Malé
- Currency : Maldivian rufiyaa
CURRENT AFFAIRS: MOUS AND AGREEMENT
Agriculture Ministry, NAFED signed MoU to boost the initiative to promote millets:
- Agriculture Ministry, NAFED signed MoU to boost the initiative to promote millets towards the celebration of the international year of millets 2023.
- The U.N. General Assembly recently adopted a resolution, sponsored by India and supported by more than 70 countries, declaring 2023 as the International Year of Millets.
- The resolution is intended to increase public awareness of the health benefits of millets and their suitability for cultivation under tough conditions marked by climate change.
- Millet is a cereal that belongs to the grass family.
- Majorly cultivated in the semiarid tropical regions of Africa and Asia, around 97 percent of the world’s overall millet production happens in these regions.
- Types of millets: Jowar (Sorghum), Ragi, Bajra (Pearl millet).
About NAFED:
- It was established on Gandhi Jayanti on 2 October 1958 NAFED is registered under the Multi-State Co-operative Societies Act.
CURRENT AFFAIRS: AWARDS AND HONOURS
Three people have been awarded Nobel Prize in chemistry for developing a way of “snapping molecules together”:
- This year’s Nobel Prize in chemistry has been awarded in equal parts to Carolyn R. Bertozzi, Morten Meldal, and K. Barry Sharpless for developing a way of “snapping molecules together” that can be used to design medicines.
- Their work, known as click chemistry and bioorthogonal reactions, is used to make cancer drugs, map DNA and create materials that are tailored to a specific purpose.
- Hans Ellegren, secretary general of the Royal Swedish Academy of Sciences, announced the winners at the Karolinska Institute in Stockholm, Sweden.
- Bertozzi is based at Stanford University in California, Meldal is at the University of Copenhagen, Denmark, and Sharpless is affiliated with Scripps Research, California.
- Sharpless previously won a Nobel Prize in 2001.
- He is the fifth person to receive the award twice.
CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS
Former Brigadier Shri BD Mishra takes additional charge as Meghalaya governor in Shillong
- The former brigadier of the Indian Army & Governor of Arunachal Pradesh Shri B.D. Mishra (Retd.), took additional charge as the Governor of Meghalaya at the Raj Bhavan in
- He succeeded Shri Satya Pal Malik who completed his term as the Meghalaya governor on October 3, 2022.
About Shri BD Mishra :
- Shri BD Mishra was born on 20 July 1939 in Uttar Pradesh, India
- He served in the Indian Army in three major wars in 1962 (Sino-Indian War), 1965, and 1971 (Bangladesh Liberation War)
- He retired from the Indian Army on 31 July 1995, after a career that began as a permanent regular infantry officer, on 17 December 1961.
- He took charge as full-fledged Governor of Arunachal Pradesh on October 3, 2017.
About Meghalaya :
- Governor: Satya Pal Malik
- Chief Minister: Conrad Sangma
- Capital: Shillong
Shri Sanjeev Kishore takes over as the new Director General Ordnance
- Shri Sanjeev Kishore, a 1985 batch officer of the Indian Ordnance Factory Service (IOFS), has taken over as the director general ordnance (C&S) at the Directorate of Ordnance (Coordination & Services), Kolkata, West Bengal, upon the superannuation of Shri M K Grag.
About Shri Sanjeev Kishore :
- He has held many senior positions, including that of the first CMD of Armoured Vehicles Nigam Ltd (AVNL), one of the 7 new DPSUs formed by the Government of India in 2021.
- He has ensured a smooth transition of the Armoured group of factories from a Government department to a corporation.
- Before the appointment of CMD, Shri Kishore was also posted as the Senior General Manager of Heavy Vehicles Factory (HVF) Avadi and General Manager of Opto Electronics Factory (OLF), Dehradun, Uttarakhand.
- He has been awarded Santu Sahaney Memorial Shield and Ayudh Bhushan award for his meritorious services in enhancing defense production.
- Before taking over the charge of DGO (C &S), Shri Kishore was the Additional Director General of Ordnance at the Directorate of Ordnance (Coordination & Services), Kolkata.
Fire-Boltt Appoints Kiara Advani As Brand Ambassador
- Homegrown wearable and audio watch brand, Fire-Boltt has appointed Indian actress Kiara Advani as its new brand ambassador.
- Kiara will be part of the marketing campaigns of the brand alongside cricketing icon Virat Kohli & actor Vicky Kaushal.
- She will participate in different marketing, advertisement, and endorsement campaigns for the homegrown brand, which as per Counterpoint research is at the no.1 spot for the smartwatches segment in India.
- The association with Kiara will help the brand to engage with the young generation.
About Fire-Boltt :
- Founded: 2015
- Headquarters: Mumbai, Maharashtra
- Founder & CEO: Arnav Kishore
Google’s India policy head Ms. Archana Gulati resigns
- Google India’s government affairs and public policy head Ms. Archana Gulati, who joined the tech giant just five months back after quitting government service, has resigned from her post.
- The resignation comes at a time when Google is facing a series of antitrust cases in India and stricter tech-sector regulations.
About Ms. Archana Gulati :
- Archana Gulati is an economics graduate and a Ph.D. from IIT-Delhi.
- She was Joint Secretary (Digital Communications) at NITI Aayog, a government thinks tank that advises the Union government on the policy before she joined Google India. ∙
- She was a joint administrator in the finance division at the telecom ministry’s Universal Services Obligation Fund of India between May 2007 to February 2012.
- Between 2014 and 2016, she worked as a senior official at the Competition Commission of India, in its Mergers & Acquisitions division.
- She was looking after digital communications policy matters at NITI Aayog from August 2019 to March 2021, before she took voluntary retirement.
- For a year she freelanced and joined Google in May 2021.
Gujarat IAS cadre Ajay Bhadoo appointed as Deputy Election Commissioner & Akash Tripathi MyGov’s CEO
- A 1999 batch Indian Administrative Service (IAS) officer of Gujarat cadre, Mr. Ajay Bhadoo has been appointed as the Deputy Election Commissioner until July 24, 2024.
- The Appointments Committee of the Cabinet (ACC) approved the senior bureaucrat’s candidature.
About Mr. Ajay Bhadoo :
- Bhadoo served as Gujarat’s Vadodara Municipal Commissioner.
- He was appointed as Joint Secretary to former President Shri Ram Nath Kovid in July 2020.
- His two-month extension as Joint Secretary in the President’s Secretariat ended on September 25, 2022.
Other Appointments :
- Akash Tripathi, a 1998 batch IAS officer of the Madhya Pradesh cadre, has been appointed as the Chief Executive Officer (CEO), MyGov, Ministry of Electronics & Information Technology.
- Basant Garg, a 2005 batch IAS officer of the Punjab cadre, has been named Additional CEO of, the National Health Authority under the Department of Health & Family Welfare.
- Lochan Sehra, a 2002 batch IAS officer of the Gujarat cadre, will be joint secretary of, the Indian National Space Promotion and Authorisation Centre (IN-SPACe), Ahmedabad for a tenure of 5 years.
- Franklin L Khobung and Mr. Pankaj Yadav have been appointed as joint secretaries in the Department of Agriculture & Farmers Welfare, Rahul Sharma will be JS, Ministry of AYUSH, Mr. Ajay Yadav as the joint secretary, Cabinet Secretariat, and Mr. Deepak Mishra will be joint secretary, Department of Chemicals & Petro-Chemicals.
- Indu C Nair has been appointed as joint secretary of, the Department of Commerce, Mr. Gurmeet Singh Chawla and Mr. Mugdha Sinha will be joint secretaries in the Ministry of Culture, Mr. Ajay Kumar as joint secretary in the Department of Defence and Mr. Manoj Kumar Sahoo, will be a joint secretary in the Department of Drinking Water & Sanitation.
- D Senthil Pandiyan has been appointed as joint secretary, Ministry of Earth Sciences, Mr. Hanish Chhabra and Mr. Surbhi Jain as joint secretaries in the Department of Economic Affairs, Mr. Satyajit Mishra, as JS in the Ministry of Environment, Forest & Climate Change, Mr. Mukesh Kumar Bansal as the joint secretary in Department of Financial Services and Ms. T J Kavitha as joint secretary, Department of Food & Public Distribution.
- Sachin Mittal and Mr. Manashvi Kumar will be joint secretaries in the Department of Health & Family Welfare, Mr. Hanif Qureshi as the JS, Ministry of Heavy Industries, Mr. Ravi Kumar Arora and Mr. Deepak Agarwal will be joint secretaries, Ministry of Housing and Urban Affairs and Mr. Rahul Jain as joint secretary, Department of Investment & Public Asset Management.
- Rupesh Kumar Thakur and Ms. Nandita Gupta have been named joint secretaries in the Ministry of Labour & Employment, Mr. Farida Mahmood Naik as the JS, Ministry of Mines, Mr. Ajay Yadav will be joint secretary, Ministry of New & Renewable Energy, Mr. Rajat Kumar has been named joint secretary, Department of Personnel & Training and Ms. Priyanka Basu lngty will be Regional Director (JS level), Staff Selection Commission (SSC), Kolkata.
- Mohammad Afzal has been appointed as joint secretary, of the Ministry of Power, Mr. Amit Shukla as joint secretary of, the Department of Rural Development, and Mr. Indira Murthy will be joint secretary of, the Department of Social Justice & Empowerment.
CURRENT AFFAIRS: ACQUISITIONS & MERGERS
Britannia acquires 51% of equity share capital in Kenya’s Kenafric Biscuits Ltd
- Britannia and Associates (Dubai) Pvt Co Ltd (BADCO), Britannia’s wholly-owned arm acquired Nairobi-based liability firm Kenafric Biscuits Ltd (KBL) by subscribing to 51% of the equity share capital of the company.
- The cost of acquisition was Kenyan Shillings (KES) 13.87 crore ( ₹9.2 crores)
- BADCO has acquired 100% of the equity share capital of Catalyst Britannia Brands Ltd (CBBL) for Kenyan Shillings (KES) 2.14 crore ( ₹1.42 crore), thereby making it a 100% subsidiary.
- CBBL is an investment company that owns the ‘Britannia’ trademark in Kenya.
CCI approves amalgamation of ZEEL, BEPL with Culver Max Entertainment with modifications
- The Competition Commission of India (CCI) approved the amalgamation of Zee Entertainment Enterprises Limited (ZEEL) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (CME) (earlier known as Sony Pictures Network India) with certain modifications.
- The proposed combination relates to
- The amalgamation of each of ZEE and BEPL with and into CME
- Preferential allotment of certain shares by CME to Sunbright International Holdings Limited (earlier known as Essel Holdings Limited), and Sunbright Mauritius Investments Limited.
- The proposed combination is like acquisition and amalgamation falls under Section 5(a) and 5(c) of the Competition Act, 2002.
- The Commission approved the proposed combination subject to the carrying out of modifications proposed by the parties, under Regulation 25(1) of the Competition Commission of India (Procedure regarding the transaction of business relating to combinations) Regulations, 2011.
About CME :
- CME is an indirect wholly owned subsidiary of Sony Group Corporation (SGC).
- It has several general entertainment channels (GEC), film, sports, and kids’ entertainment channels in India.
- SonyLIV is CME’s digital entertainment video service which provides OTT services in India and international markets.
About BEPL :
- BEPL is also an indirect wholly owned subsidiary of SGC and a part of the SGC Group.
- BEPL is broadly engaged in:
- The acquisition of rights for motion pictures, events, and other TV content
- To generate advertising revenue from the telecast of TV content.
About CCI :
- Established: 14 October 2003
- Headquarters: New Delhi, Delhi, India
- Chairman: Ashok Kumar Gupta
- Secretary : P K Singh
- The CCI is the chief national competition regulator in
- It is a statutory body within the Ministry of Corporate Affairs.
CURRENT AFFAIRS: SPORTS NEWS
FIFA partnered with the Goa state government to give India its first hybrid pitch:
- The Pandit Jawaharlal Nehru Stadium in Goa’s Fatorda will have India’s first hybrid pitch that will be used for the upcoming FIFA U-17 Women’s World Cup matches.
- Despite continuous matches, there will be less wear and tear since it’s a hybrid pitch.
- The hybrid pitch is about 95 percent natural (grass) and five percent hybrid.
- The installation is happening in two 12-hour shifts with a crew of five men and is set to be completed in eight days.
- The cost of the installation is Rs 4 crore.
- Hybrid pitches are being used by all clubs in the English Premier League as well as in seven of the eight stadiums for the 2022 World Cup in Qatar.
- These hybrid pitches have an eight-year warranty.
Shooting games have been included in the Commonwealth Games in the 2026 edition:
- Shooting will return to the Commonwealth Games roster in the 2026 edition in Victoria, Australia, while wrestling has been dropped in a bitter-sweet turn of events for India.
- The Commonwealth Games Federation (CGF) and the Commonwealth Games Australia have unveiled the full sports program for the Victoria 2026 CWG, featuring 20 sports and 26 disciplines, including nine fully integrated para-sports.
- The return of shooting, which was controversially dropped from the Birmingham CWG earlier this year, is a welcome development for India.
- Shooting has been India’s strongest sport in the Commonwealth Games with 135 medals (63 gold, 44 silver, and 28 bronze) till now.
- Wrestling is in the third spot with 114 (49 gold, 39 silver, and 26 bronze) medals.
- In the 2018 Gold Coast edition, Indian shooters won 16 medals — 25 percent of the country’s total medals of 66 — with 7 gold, 4 silver, and 5 bronze.
- The addition of para-shooting in the 2026 Games will also add to India’s medal tally.
- The 2026 CWG will be staged from March 17-29 in the Australian state of Victoria across multiple cities and regional hubs including Melbourne, Geelong, Bendigo, Ballarat, and Gippsland.
Daily CA on October 7:
- October 7 is celebrated each year as World Cotton Day
- With a bumper sugar production of 35.9 million tons during the October-September season, India has left behind Brazil to become the top producer of the sweetener.
- The government has modified the Emergency Credit Line Guarantee Scheme (ECLGS) to enhance the maximum loan amount eligibility for airlines under ECLGS 3.0 to 100% of their fund-based or non-fund-based loan outstanding or ₹1,500 crore, whichever is lower, and of the above ₹500 crores shall be considered, based on equity contribution by the owners.
- With a promise to increase access to affordable healthcare in Himachal Pradesh in an eco-friendly manner, Prime Minister Narendra Modi inaugurated the All-India Institute of Medical Sciences in the Bilaspur district of Himachal Pradesh.
- Telecom Minister Ashwini Vaishnaw, ₹26,000 crores has been approved by the government to install new 25,000 telecom towers in the next 500 days.
- The government has approved the extension of the Online Building Plan Approval System (OBPAS) under the eChhawani portal to five more Cantonment Boards, namely Agra, Ranikhet, Babina, Jammu, and Cannanore.
- Agriculture Ministry, NAFED signed MoU to boost the initiative to promote millets towards the celebration of the international year of millets 2023.
- The Pandit Jawaharlal Nehru Stadium in Goa’s Fatorda will have India’s first hybrid pitch that will be used for the upcoming FIFA U-17 Women’s World Cup matches.
- Shooting will return to the Commonwealth Games roster in the 2026 edition in Victoria, Australia, while wrestling has been dropped in a bitter-sweet turn of events for India.
- This year’s Nobel Prize in chemistry has been awarded in equal parts to Carolyn R. Bertozzi, Morten Meldal, and K. Barry Sharpless for developing a way of “snapping molecules together” that can be used to design medicines.
- The Pullampara Panchayat in Kerala’s capital Thiruvananthapuram has become the first ‘fully digital literate panchayat’ in
- Himachal Pradesh Chief Minister Shri Jai Ram Thakur launched the first-of-its-kind mobile application ‘The Satya Nishtha app, in Dharamshala, Himachal Pradesh (HP) to help investigate and control criminal activities.
- The National Payments Corporation of India (NPCI) and Central Bank of Oman (CBO) signed a historic Memorandum of Understanding (MoU) to launch the Rupay debit card in Oman, paving the way for a new era of financial connectivity.
- Aditya Birla Health Insurance Co. Limited. (ABHICL), the health insurance subsidiary of Aditya Birla Capital Limited (ABCL), has launched the first of its kind ACTIV FIT health insurance policy, a comprehensive health insurance plan for young and healthy adults.
- HDFC Life Insurance Company has launched the ‘Insure India’ campaign to educate Indians on the benefits of life insurance as a product category.
- JSW Cement has raised Rs 400 crore (USD 50 million) from MUFG Bank India as its first sustainability-linked loan.
- Export-Import Bank of India [Exim Bank], on behalf of the Government of India, has extended a Line of Credit (LOC) of USD 100 million to the Government of the Republic of the Maldives for financing developmental projects.
- The former brigadier of the Indian Army & Governor of Arunachal Pradesh Shri B.D. Mishra (Retd.), took additional charge as the Governor of Meghalaya at the Raj Bhavan in
- Shri Sanjeev Kishore, a 1985 batch officer of the Indian Ordnance Factory Service (IOFS), has taken over as the director general ordnance (C&S) at the Directorate of Ordnance (Coordination & Services), Kolkata, West Bengal, upon the superannuation of Shri M K Grag.
- Homegrown wearable and audio watch brand, Fire-Boltt has appointed Indian actress Kiara Advani as its new brand ambassador.
- Google India’s government affairs and public policy head Ms. Archana Gulati, who joined the tech giant just five months back after quitting government service, has resigned from her post.
- A 1999 batch Indian Administrative Service (IAS) officer of Gujarat cadre, Mr. Ajay Bhadoo has been appointed as the Deputy Election Commissioner until July 24, 2024.
- Britannia and Associates (Dubai) Pvt Co Ltd (BADCO), Britannia’s wholly-owned arm acquired Nairobi-based liability firm Kenafric Biscuits Ltd (KBL) by subscribing to 51% of the equity share capital of the company.
- The Competition Commission of India (CCI) approved the amalgamation of Zee Entertainment Enterprises Limited (ZEEL) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (CME) (earlier known as Sony Pictures Network India) with certain modifications.