Current Affairs September 30th 2022| Current Affairs News

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CURRENT AFFAIRS: IMPORTANT DAYS

International Translation Day- 30 September

• International Translation Day is observed on September 30 every year across the globe to raise awareness about language professionals and bring awareness about languages.
• International Translation Day 2022 also aims to pay tribute to the work of language professionals.

Themes:

• The theme of International Translation Day is ‘A World Without Barriers.

History

• September 30, according to the UN, celebrates the feast of St. Jerome, the Bible translator, who is considered the patron saint of translators.
• Jerome, United Nations add, was a priest from North-eastern Italy, who is known mostly for his endeavor of translating most of the Bible into Latin from the Greek manuscripts of the New Testament.
• He also translated parts of the Hebrew Gospel into Greek.
• He learned Latin in school and was fluent in Greek and Hebrew, which he picked up from his studies and travels. Jerome died near Bethlehem on September 30, 420, the UN added.
• On May 24, 2017, the General Assembly adopted a resolution on the role of language professionals in connecting nations and fostering peace, understanding, and development, and declared September 30 as International Translation Day.

CURRENT AFFAIRS: NATIONAL NEWS

President has inaugurated The Integrated Cryogenic Engines Manufacturing Facility of HAL:

• The Integrated Cryogenic Engines Manufacturing Facility of HAL in Bengaluru has been inaugurated by President Droupadi Murmu.
• President Droupadi Murmu also laid the foundation stone of the South Zonal Institute of Virology.
• The Integrated Cryogenic Engines Manufacturing Facility of Hindustan Aeronautics Limited (HAL) is spread over an area of 4,500 square meters.
• It has more than 70 hi-tech equipment and testing facilities for manufacturing cryogenic (CE20) and semi-cryogenic (SE2000) engines of Indian rockets.
• The facility will full fill the entire Rocket Engine requirement of ISRO under one roof.
• It will boost self-reliance in the manufacturing of Hi-thrust Rocket engines.
• President Droupadi Murmu will inaugurate the cutting-edge ICMF, which has been constructed over a 4,500 square meter space and houses over 70 high-tech tools and testing facilities for the production of cryogenic (CE20) and semi-cryogenic (SE2000) engines for Indian rockets.
• An MOU was signed with ISRO in 2013 for the establishment of a facility to produce cryogenic engine modules at HAL’s Aerospace Division.
• It was later updated in 2016 to allow for the establishment of the ICMF with an investment of ₹208 crores.
• Cryogenic engines are mostly used in launch vehicles for launching satellites.
• Only the USA, France, India, Japan, China, and Russia have cryogenic technology.
• President inaugurated the new campus of the Indian Institute of Information Technology in Dharwad, Karnataka, and St Joseph University.

The government launched a Scheme for Special Assistance to States for Capital Investment:

• The government launched a Special Assistance to States for Capital Investment scheme for 2022-23.
• States Governments will receive financial assistance under this scheme in the form of a 50-year interest-free loan for capital investment projects.
• Under this scheme, Rs 3000 Crore is earmarked for capital projects on Optical Fibre Cable (OFC) network.
• Recently, the Department of Expenditure has approved proposals of four States namely Uttarakhand (50 cr), Jharkhand (84 cr), Haryana (65 cr), and Karnataka (156 cr).
• Finance Minister Nirmala Sitharaman in her 2022-23 Budget speech announced total financial assistance of Rs 1 lakh crore for states in the form of 50-year interest-free loans for capital investment projects.
• The financial assistance provided under the Scheme will be over and above the normal borrowing ceiling allowed to the States.
• The Scheme for Special Assistance to States for Capital Investment for 2022-23 has a total of seven parts.

Dr. Jitendra Singh launched the One Week One Lab theme-based campaign in September 2022:

• Union Minister Dr. Jitendra Singh launched the One Week One Lab theme-based campaign.
• The campaign has been launched to showcase technological breakthroughs and innovations.
• The campaign will be launched in 37 laboratories and institutes of the Council of Scientific and Industrial Research (CSIR) across the country.
• CSIR’s achievements in Drone, Heliborne technology, state-of-the-art Sewage cleaning machines, and Aroma Mission have opened new opportunities.
• Union Minister Dr. Jitendra Singh addressed the first-ever CSIR Leadership Meet.

About Council of Scientific & Industrial Research (CSIR):

• It is India’s largest research and development organization and an autonomous body.
• Its current Director-General is Dr. Nallathamby Kalaiselvi.
• It was established on September 26, 1942.

HCL has launched its new brand identity and logo:

• IT services major HCL Technologies has launched its new brand identity and logo, which seeks to embrace a distinct global brand identity while retaining connectivity with HCL Group.
• The company’s new ‘HCLTech’ brand and logo will be at the heart of its go-to-market strategy and represent its differentiated portfolio of services and products that supercharge digital transformation for enterprises at scale.
• C Vijayakumar, CEO & Managing Director, HCLTech.
• “For HCLTech, Supercharging Progress is about accelerating the digital transformation for our clients every day as well as the ethos of the organization to advance the aspirations of the people.
• The company also launched its new employee value proposition (EVP) – ‘Find Your Spark’.
• Built on the broad tenets of opportunity, respect, and trusted employment, HCLTech’s EVP emphasizes its commitment to helping both current and prospective employees maximize their career potential and ambitions.

CURRENT AFFAIRS: STATE NEWS

UP Govt Gives Nod To Bundelkhand’s First Tiger Reserve

• In a bid to promote tiger conservation, the Uttar Pradesh (UP) cabinet led by Chief Minister Mr. Yogi Adityanath gave a green signal for the development of the first tiger reserve in the Bundelkhand region.
• The UP cabinet approved the notification of Ranipur Tiger Reserve under Section 38(v) of the Wildlife (Protection) Act of 1972.

About the Ranipur Tiger Reserve :

• The Ranipur Tiger Reserve has tropical dry deciduous forests and is home to fauna such as tigers, leopards, sloth bears, spotted deer, sambhar, chinkara, and several birds and reptiles.
• It will span 89 square kilometers (sq km), with a 299.58 sq km buffer zone and 230 sq km core area, which was already notified as the RWS in 1977.
• It will be the 4th in UP, after Dudhwa Tiger Reserve in Lakhimpur, Pilibhit, and Amangarh in Bijnor district (buffer of Corbett Tiger Reserve).
• It will also be the first in the Up’s portion of the Bundelkhand region, which it shares with neighboring Madhya Pradesh.
• A Ranipur Tiger Conservation Foundation will also be established for the protection and conservation of tigers in the region.

About UP :

• Governor: Anandiben Patel
• Chief Minister: Yogi Adityanath
• Capital: Lucknow
• Dance : Khayal, Nautanki Naqal

Maharashtra cabinet approves naming of Chipi airport after Nath Pai

• The Maharashtra Cabinet chaired by Chief Minister Shri Eknath Shinde gave the nod to name the Chipi greenfield airport in Sindhudurg district after a prominent socialist leader, freedom fighter, and former Member of Parliament (MP) Barrister Nath Pai.
• The Chip Airport was formally inaugurated on March 5, 2019.

About the Airport :

• The airport is situated in Vengurla, 27 km away from the Mumbai-Goa highway in the coastal Sindhudurg district of Maharashtra.
• Commercial flights started operations at the Chipi airport on October 9, 2021.

About Barrister Nath Pai :

• 2022 is the birth centenary year of Nath Pai.
• Pai hailed from Vengurla, Maharashtra.
• He represented the Rajapur Lok Sabha constituency from 1957 to 1967 as Praja Socialist Party leader.
• He was also a votary of Konkan Railway.

About Maharashtra :

• Governor: Bhagat Singh Koshyari
• Chief Minister: Eknath Shinde
• Capital: Mumbai
• Festival : Pavri Nach, Lavani, Gondha

CURRENT AFFAIRS: BANKING & FINANCE

Yubi partners with SBI to enable higher credit access to priority sector

• Yubi, formerly known as CredAvenue, has partnered with India’s largest bank, the State Bank of India (SBI), to help grow the bank’s co-lending portfolio.

Aim :

• To facilitate seamless and faster credit to the priority sector and reduce the country-wide credit gap.
• As per the partnership, SBI will be integrated with Yubi Co.Lend, the co-lending platform of Yubi, that provides an end-to-end solution and enables lenders to collaborate with multiple partners with a quick one-time application programming interface (API) integration. 

About the Partnership :

• The partnership has the potential to unlock $1 trillion in capital for Priority Sector Lending in tier 2,3,4 cities, small enterprises, and farmers.
• On Yubi’s co-lending platform, SBI can choose its co-lending partners including NBFCs, HFCs, or fintech, create its co-lending product program, and digitally manage operations.
• Yubi will also build, manage and monitor SBI’s co-lending portfolio.
• The platform will also ensure all compliance to enhance the user experience.

About SBI :

• Founded: 1 July 1955
• Headquarters: Mumbai, Maharashtra, India
• Chairman: Dinesh Kumar Khara
• Tagline: Pure Banking, Nothing Else

About Yubi :

• Headquarters: Chennai, Tamil Nadu
• Founder & CEO: Gaurav Kumar

Moody’s Projects the Global Economy To Grow At 2.7% In 2022 And 2.3% In 2023

• Moody’s Analytics predicted the Global real GDP (gross domestic product) is forecast at 2.7% in 2022 in the Moody’s Analytics September 2022 baseline, down from 4.2% in our January 2022 forecast.
• GDP for 2023 has also been revised lower to 2.3% 2023 from 3.6%.
• According to the report, the performance remains uneven among the world’s major economies the US, China, Japan, India, and the five largest economies in Western Europe.

Bank of Baroda rolls out ‘Khushiyon ka Tyohaar’ as the Festive Season begins

• India’s leading public sector bank Bank of Baroda (BOB) has launched ‘Khushiyon ka Tyohaar’ an annual festive campaign with a range of offers as the festive season starts.
• During this campaign, the bank will offer attractive interest rates on home loans and car loans, in addition to waiver/discount on processing charges and other benefits.

Key Highlights :

• BoB home loans are available at a competitive interest rate beginning at 7.95% p.a. with no processing charges.
• The Bank car loans are being offered at a special rate starting from 7.95% p.a.a 25 basis points concession.
• Under Khushiyon ka Tyohaar, customers will receive several other benefits such as no pre-payment/part payment charges, concessional processing charges, and longer repayment tenure of 7 years.
• The bank has also launched a digital lending campaign with a range of digital loans including pre-approved personal loans, personal loans, auto loans, home loans, education loans, mudra loans, MSME loans, gold loans, and the Baroda Kisan Credit Card (BKCC).
• In addition to the festive offers on loan products, customers also have the opportunity to earn higher interest with the Baroda Tiranga Deposit scheme.

About Baroda Tiranga Deposit scheme :

• It is a special fixed deposit that offers higher interest rates.
• The Deposits are available in two tenor buckets offering interest rates of 5.75% p.a. for 444 days and 6.00% p.a. for 555 days. 
• Senior citizens earn an additional interest rate of 0.50% p.a., while Non-Callable Deposits above Rs.15 lakh will get 0.15% p.a. extra.
• The scheme is available throughout the festival season and closes on Dec 31, 2022.

About BoB :

• Founded: 20 July 1908
• Headquarters: Vadodara, Gujarat, India
• MD & CEO: Sanjiv Chadha
• Tagline: India’s International Bank

OECD retains India’s GDP growth forecast of 6.9% for FY23, lower than RBI’s target

• The Organization for Economic Co-operation and Development (OECD) has retained its projection of 6.9% growth in India’s GDP for the current financial year FY23.
• OECD expects the growth to be at 5.7% for FY24.
• Notably, OECD’s forecast for India’s economic growth is lower compared to RBI’s estimate of 7.2% for the overall FY23 fiscal year.
• As per the report, global growth is projected to remain subdued in the second half of 2022, before slowing further in 2023 to annual growth of just 2.2%.”

About OECD :

• Founded: September 1961
• Headquarters: Paris, France
• Secretary General: Mathias Cormann
• Membership: 38 countries

UCO Bank & Yes Bank to collaborate with two Russian banks for a payment system

• UCO Bank and Yes Bank have entered into a partnership with two Russian banks to conduct business with Russia.
• UCO Bank has partnered with GazpromBank, while Yes Bank has also formed an arrangement with Russia’s Petersburg Social Commercial Bank (PSCB).
• The deal between Uco Bank and GazpromBank comes as the Reserve Bank of India implements a system to facilitate international payments through special Vostro accounts.

Why are Indian Banks Partnering with Russian Banks?

• Due to economic sanctions on Russia over the attack on Ukraine, Indian exporters are finding commercial prospects and opportunities in Russia.
• Russia’s biggest exports include medicines, food products, textiles, and telecommunications equipment.
• In the April-July 2022 quarter, exports to Russia declined by around 30% to $714 million.

About UCO Bank :

• Founded: 6 January 1943
• Headquarters: Kolkata, West Bengal, India
• MD & CEO : Shri Soma Sankara Prasad
• Tagline: Honors Your Trust

About Yes Bank :

• Founded: 2004
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO: Prashant Kumar
• Tagline: Experience Our Expertise

Samsung India & Axis Bank launches co-branded Credit Card

• Samsung, a consumer electronics company, and Axis Bank have partnered to launch an exclusive co-branded credit card, powered by Visa, and named it the Samsung Axis Bank Credit Card.

About Samsung Axis Bank Credit Card :

• With the Card, consumers will get 10% cashback across all Samsung products and services round the year.
• The 10% cashback offer through the Card will be over and above existing Samsung offers, on both EMI and non-EMI transactions.
• The offer applies to the company’s services such as Service Centre payments, Samsung Care+ mobile protection plans, and extended warranties.
• The Card also comes with complimentary airport lounge access, fuel surcharge waiver, dining offers, and access to a bouquet of offers from Axis Bank and Visa.

Features :

• The card comes in two variants:

1. Visa Signature
2. Visa Infinite.

• The annual cashback on the two is up to ₹10,000 and ₹20,000 respectively, while the respective monthly cash back limits are ₹2,500 and ₹5,000.
• The annual fee for the Signature variant is ₹500 (plus taxes) while that of the Infinite variant is ₹5,000 (plus taxes). 
• On completion of the first 3 transactions, Signature cardholders will get ₹2,500 ‘Edge Reward Points’ worth ₹500, while Infinite cardholders will get 30,000 points worth ₹6,000.

About Axis Bank :

• Founded : 3 December 1993
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO: Amitabh Chaudhry
• Tagline : Badhti Ka Naam Zindagi

Mastercard to launch ‘carbon calculator’ for Indian consumers

• Global payments and technology company Mastercard will launch the Carbon Calculator feature with Indian banks for offering consumers an estimated carbon footprint for each of their purchases.
• Mastercard Carbon Calculator, developed in collaboration with Swedish fintech Doconomy, is currently used in over 25 countries.
• Banking partners can embed the tracking tool in their websites or mobile apps.

About Carbon Calculator :

• Carbon Calculator is a service and personalized carbon footprint tracker that can tell users the cumulative effect of carbon footprint across a variety of spending categories in a month.

CURRENT AFFAIRS: ACQUISITIONS & MERGERS

Axis Bank To Acquire Up To 9.94% Stake In Go Digit-Life Insurance

• India’s 3rd largest private sector lender Axis Bank has entered into an indicative and non-binding term sheet with Go Digit-Life Insurance for a proposed investment of Rs 49.90 to Rs 69.90 crore for a 9.94% stake in the Initial Public Offering (IPO) bound Go Digit, a firm backed by Canada-based Fairfax Group.
• The company proposes to carry out life insurance business in India, subject to the grant of a certificate of registration by the Insurance Regulatory and Development Authority of India (IRDAI).
• The Securities and Exchange Board of India (SEBI) stated in a public disclosure on its website on Monday that the “issuance of observations (has been) kept in abeyance” about the IPO of Go Digit.

Axis Bank along with its two subsidiaries Axis Capital and Axis Securities owns a 12.99% stake in Max Life Insurance.

CURRENT AFFAIRS: MOUS AND AGREEMENT

ISA and ICAO signed an MoU:

• International Solar Alliance (ISA) and the International Civil Aviation Organisation (ICAO) signed an MoU.
• On the sidelines of the 42nd Session of the International Civil Aviation Organisation (ICAO) Assembly, ISA and ICAO have signed an MoU.
• The MoU has been signed by Juan Carlos Salazar, Secretary-General, ICAO, and Joshua Wycliffe, Chief of Operations, ISA.
• The idea of making ICAO a partner organization of ISA was mooted by Jyotiraditya M. Scindia during his visit to Montreal in May 2022.
• With this MoU, ICAO has become a partner organization of ISA.
• The partnership between ISA and ICAO will help in developing building capacity to use solar energy.
• The MoU will work towards providing information, providing advocacy, capacity building, and demonstration projects
• ICAO is committed to reducing carbon emissions in the aviation sector through various initiatives.
• India, with the support of France, has invited countries to invest in solar projects.

NHPC Limited and IIT Jammu have signed a pact for availing services:

• NHPC Limited and IIT Jammu have signed a pact for availing services of the latter for undertaking R&D activities in the field of science, engineering, and technology.
• NHPC has an established R&D division undertaking various innovative initiatives in different fields of construction, operation, and maintenance of hydropower projects/stations.
• S L Kapil, Executive Director (R&D), and Prof Manoj Singh Gaur (Director, IIT Jammu) signed the agreement on behalf of NHPC Limited and IIT Jammu, respectively.

CURRENT AFFAIRS: AWARDS AND HONOUR

Asha Parekh has received the Dadasaheb Phalke Award for the year 2020:

• Legendary actress Asha Parekh will receive the Dadasaheb Phalke Award for the year 2020, according to a recent announcement from the Ministry of Information and Broadcasting.
• The award will be presented at the National Film Award ceremony in New Delhi.
• The Minister also announced that Smt. Droupadi Murmu, the President of India, will preside over the 68th National Film Awards, which will take place on 30 September 2022.
• The best actor award for 2020 is shared between Ajay Devgan and Suriya for the movies Tanhaji: The Unsung Warrior and Soorarai Pottru, respectively.
• Manoj Muntashir got the award for Best Lyrics in the Hindi movie “Saina”.
• Dada Saheb Phalke award was introduced by the Government of India to celebrate Dada Saheb’s contribution to Indian cinema.
• He directed the first full-length feature movie of India, Raja Harischandra in 1913.
• The award consists of a Swarna Kamal medallion, a shawl, and a cash prize of 10 lakhs.
• Devika Rani was the first winner of this award.

About Asha Parekh:

• Asha Parekh is an accomplished Indian classical dancer as well as a well-known actress, director, and producer in the film industry.
• She began her acting career as a child actor.
• Parekh is a winner of Padhma Shri, awarded to her in 1992.
• She also served as the head of the Central Board for Film Certification from 1998-2001.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Saudi Arabia’s crown prince Mr. Mohammed bin Salman named prime minister

• Saudi Arabia’s powerful Crown Prince Mr. Mohammed bin Salman has been appointed prime minister (PM) by a royal decree.
• He is being replaced as defense minister by his younger brother, Khalid bin Salman, who was deputy defense minister.
• The royal decree reaffirmed all the other senior ministers in their posts, including Foreign Minister Prince Mr. Faisal bin Farhan Al Saud, Finance Minister Mr. Mohammed al-Jadaan, and Investment MinisterMr  Khalid al-Falih.

About Mr. Mohammed bin Salman :

• He is widely known by the acronym MBS and has taken the lead on Vision 2030, the kingdom’s wide-ranging plan to transform its economy and end its dependency on oil.
• He is the 7th son of King Salman.
• He serves as the chairman of the Council of Economic and Development Affairs and chairman of the Council of Political and Security Affairs. 
• Before he was appointed PM, he served as minister of defense from 2015 to 2022.

About Saudi Arabia :

• King: Salman of Saudi Arabia
• Capital: Riyadh
• Currency: Saudi riyal

Stashfin Appoints Former SBI Card MD And CEO Mr. Vijay Jasuja As Non-Executive Cum Independent Director

• Leading Fintech platform Stashfin has appointed BFSI (Banking, Financial Services, and Insurance) expert and former Managing Director (MD) and Chief Executive Officer (CEO) of SBI Cards, Mr. Vijay Jasuja as Non-Executive Independent Director.

About Mr. Vijay Jasuja :

• Jasuja, an industry veteran, has more than 40 years of BFSI experience in leadership positions across Indian and overseas markets and has been the MD and CEO of SBI Cards, and director, of PNB Cards. 
• He has held multiple leadership positions at SBI including General Manager, Hyderabad; General Manager (IBG), Mumbai; Country Head and CEO, Maldives and Regional Head, Sub-Saharan Africa.

About Stashfin :

• Founded: 2016
• Headquarters: New Delhi, Delhi
• CEO and Founder: Tushar Aggarwal
• Stashfin is a neo-banking platform with a mission to deliver seamless and transparent financial services to consumers across a wide spectrum.

Aim :

• To empower the customers by improving their financial health, which will lead to inclusivity, growth, and economic independence.

Senior IAS officer Mr. Rajendra Kumar appointed as Director General of ESIC 

• According to an order issued by the Personnel Ministry, Senior bureaucrat Mr. Rajendra Kumar has been appointed as the director general of the Employees’ State Insurance Corporation (ESIC).

About Mr. Rajendra Kumar :

• Kumar is a 1992-batch Indian Administrative Service (IAS) officer of the Tamil Nadu cadre.
• Currently, he is an additional secretary in the Ministry of Electronics and Information Technology.

Other Appointments :

• As per the order, T Natarajan, a 1996-batch IAS officer of Gujarat cadre, will be an additional secretary in the Department of Economic Affairs, Ministry of Finance.
• V Hekali Zhimomi has been appointed as additional secretary in the Department of Health and Family Welfare. 
• Ashish Srivastava, Additional Secretary and Financial Adviser in the Ministry of Health and Family Welfare have been named as an adviser in the Inter-State Council Secretariat, Ministry of Home Affairs.
• Jaideep Kumar Mishra, who is currently an additional secretary in the Ministry of Electronics and Information Technology, will now be the additional secretary and financial adviser to the Ministry of Health and Family Welfare, replacing Srivastava.
• Nitishwar Kumar has been appointed as additional secretary and financial adviser in the Ministry of Women and Child Development, by temporarily upgrading a vacant post of joint secretary and financial adviser in the ministry.
• L Satya Srinivas, Additional Secretary in NATGRID, Ministry of Home Affairs, will be an additional secretary in the Department of Commerce, 
• V Radha, Additional Secretary in the Department for Promotion of Industry and Internal Trade has been named as additional secretary in NITI Aayog.
• Ranjana Chopra, a 1994-batch IAS officer of Odisha cadre, has been appointed additional secretary and financial adviser in the Ministry of Culture.

About ESIC :

• Founded: 24 February 1952
• ESIC is one of the two main statutory social security bodies under the ownership of the Ministry of Labour and Employment, Government of India, the other being the Employees’ Provident Fund Organisation.

CURRENT AFFAIRS: DEFENCE NEWS

INS Sunayna participates in Combined Maritime Forces (CMF) Exercise at Seychelles

• The Indian Naval Ship (INS) Sunayna participated in the capacity-building exercise Operation Southern Readiness conducted by Combined Maritime Forces (CMF) at Seychelles which was held between 24th September and 27th September 2022.
• The Indian Navy was welcomed to the CMF by Vice Admiral Brad Cooper, US NAVCENT. 
• This is the maiden participation of an Indian Navy ship in the CMF exercise.
• The event was coordinated as part of the Distinguished Visitor’s demonstration and witnessed by Wavel Ramkalawan, the Hon’ble President of the Republic of Seychelles, and senior officials of member countries of CMF.
• A live demonstration of Visit Board Search & Seizure (VBSS) operations was also conducted onboard HMS Montrose.

About INS Sunayna :

• INS Sunayna is the second Saryu-class patrol vessel of the Indian Navy, designed and constructed indigenously by Goa Shipyard Limited.
• It is designed to undertake fleet support operations, coastal and offshore patrolling, ocean surveillance and monitoring of sea lines of communications and offshore assets, and escort duties.

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

DRDO successfully tests very short-range air defense system

• The Defence Research and Development Organisation (DRDO) successfully tested the two flights of the Very Short Range Air Defence System (VSHORADS), from a ground-based portable launcher from the Integrated Test Range, Chandipur, off the coast of Odisha.

About VSHORADS :

• VSHORADS is an indigenously designed and developed Man Portable Air Defence System (MANPAD) by DRDO’s Research Centre Imarat (RCI), Hyderabad, in collaboration with other DRDO laboratories and Indian Industry Partners.
• It incorporates several novel technologies, including a miniaturized Reaction Control System and integrated avionics, which have been successfully tested.
• The missile is propelled by a dual thrust solid motor and is intended to counter low-altitude aerial threats at short ranges.
• The Indian Army’s current stock, such as the Air Defence Guns L-70 and ZU-23, is over four decades old and thus completely obsolete.
• VSHORADS are critical for defending any major city or strategically important location.

About DRDO :

• Established: 1958
• Headquarters:  New Delhi, Delhi, India
• Chairman: Dr. Sameer V Kamath
• The DRDO is the premier agency under the Department of Defence Research and Development in the Ministry of Defence of the

CURRENT AFFAIRS: SPORTS NEWS

The U.S team has won the 14th Presidents Cup at Quail Hollow Club:

• The U.S. Team has won the 14th Presidents Cup, defeating the International Team by a 17.5-12.5 margin at Quail Hollow Club.
• The US team has now won 12 out of 14 Presidents Cups in history after walking away with their ninth consecutive Cup victory.
• The 2022 Presidents Cup was the 14th edition of the Presidents Cup golf competition, held at Quail Hollow Club in Charlotte, North Carolina.
• This was Quail Hollow’s first time hosting the Presidents Cup.
• The matches were originally scheduled for fall 2021.

Daily CA on September 30:

• International Translation Day is observed on September 30 every year across the globe
• The Integrated Cryogenic Engines Manufacturing Facility of HAL in Bengaluru has been inaugurated by President Droupadi Murmu.
• The government launched a Special Assistance to States for Capital Investment scheme for 2022-23.
• Union Minister Dr. Jitendra Singh launched the One Week One Lab theme-based campaign.
• IT services major HCL Technologies has launched its new brand identity and logo, which seeks to embrace a distinct global brand identity while retaining connectivity with HCL Group.
• International Solar Alliance (ISA) and the International Civil Aviation Organisation (ICAO) signed an MoU.
• NHPC Limited and IIT Jammu have signed a pact for availing services of the latter for undertaking R&D activities in the field of science, engineering, and technology.
• Legendary actress Asha Parekh will receive the Dadasaheb Phalke Award for the year 2020, according to a recent announcement from the Ministry of Information and Broadcasting.
• The U.S. Team has won the 14th Presidents Cup, defeating the International Team by a 17.5-12.5 margin at Quail Hollow Club.
• In a bid to promote tiger conservation, the Uttar Pradesh (UP) cabinet led by Chief Minister Mr. Yogi Adityanath gave a green signal for the development of the first tiger reserve in the Bundelkhand region.
• The Maharashtra Cabinet chaired by Chief Minister Shri Eknath Shinde gave the nod to name the Chipi greenfield airport in Sindhudurg district after a prominent socialist leader, freedom fighter, and former Member of Parliament (MP) Barrister Nath Pai.
• Yubi, formerly known as CredAvenue, has partnered with India’s largest bank, the State Bank of India (SBI), to help grow the bank’s co-lending portfolio.
• Moody’s Analytics predicted the Global real GDP (gross domestic product) is forecast at 2.7% in 2022 in the Moody’s Analytics September 2022 baseline, down from 4.2% in our January 2022 forecast.
• India’s leading public sector bank Bank of Baroda (BOB) has launched ‘Khushiyon ka Tyohaar’ an annual festive campaign with a range of offers as the festive season starts.
• The Organization for Economic Co-operation and Development (OECD) has retained its projection of 6.9% growth in India’s GDP for the current financial year FY23.
• UCO Bank and Yes Bank have entered into a partnership with two Russian banks to conduct business with Russia.
• Samsung, a consumer electronics company, and Axis Bank have partnered to launch an exclusive co-branded credit card, powered by Visa, and named it the Samsung Axis Bank Credit Card.
• Global payments and technology company Mastercard will launch the Carbon Calculator feature with Indian banks for offering consumers an estimated carbon footprint for each of their purchases.
• India’s 3rd largest private sector lender Axis Bank has entered into an indicative and non-binding term sheet with Go Digit-Life Insurance for a proposed investment of Rs 49.90 to Rs 69.90 crore for a 94% stake in the Initial Public Offering (IPO) bound Go Digit, a firm backed by Canada-based Fairfax Group.
• Saudi Arabia’s powerful Crown Prince Mr. Mohammed bin Salman has been appointed prime minister (PM) by a royal decree.
• Leading Fintech platform Stashfin has appointed BFSI (Banking, Financial Services, and Insurance) expert and former Managing Director (MD) and Chief Executive Officer (CEO) of SBI Cards, Mr. Vijay Jasuja as Non-Executive Independent Director.
• According to an order issued by the Personnel Ministry, Senior bureaucrat Mr. Rajendra Kumar has been appointed as the director general of the Employees’ State Insurance Corporation (ESIC).
• The Indian Naval Ship (INS) Sunayna participated in the capacity-building exercise Operation Southern Readiness conducted by Combined Maritime Forces (CMF) at Seychelles which was held between 24th September and 27th September 2022.
• The Defence Research and Development Organisation (DRDO) successfully tested the two flights of the Very Short Range Air Defence System (VSHORADS), from a ground-based portable launcher from the Integrated Test Range, Chandipur, off the coast of Odisha.