Today's Current Affairs 7th October 2023

INTERNATIONAL

Instant View: US job growth smashes expectations, raising prospects for rate hikes

• In a surprising turn of events, the U.S. job market experienced substantial growth in September, bolstering the case for potential interest rate hikes by the Federal Reserve later this year.
• While wage growth is exhibiting signs of moderation, the latest employment report from the Labor Department suggests that the labor market remains robust.
• Nonfarm payrolls, a key indicator of employment trends, saw a remarkable increase of 336,000 jobs in September. Even more encouraging, the August data was revised upward, indicating the addition of 227,000 jobs, as opposed to the previously reported 187,000.

 SPORTS

Ojas Deotale is Nagpur’s First Asian Games Gold Medalist, eyes hat-trick at Hangzhou Asian Games

• In the final of 19th Asian Games 2023, on Saturday at the Fuyang Yinhu Sports Centre, Indian archer Ojas Deotale from Nagpur won gold medal in the men’s individual compound archery event. This victory marks Ojus Deotale third gold medal in the Asian Games 2023.
• Ojus Deotale’s third gold medal in this edition of the Asian Games 2023, making him the joint most successful Indian sportsperson in this Asian Games.
• Ojus Deotale’s success can be attributed to his exceptional precision and determination in the archery field. Deotale missed the 10-point circle only once in the centre of the target only once as he compiled a score of 140 out of a possible 150 in the final in which each archer shoots five rounds (called End in archery) with three arrows in each round.

Indian Women’s Kabaddi Team Clinches Gold Medal to beat China at Asian Games 2023

• In a heart-pounding final showdown at the Xiaoshan Guali Sports Centre in Hangzhou, the Indian women’s kabaddi team emerged victorious against a determined Chinese Taipei, securing the gold medal in the Asian Games 2023.
• In a fiercely contested match, the Indian women’s kabaddi team clinched the gold medal by defeating Chinese Taipei with a nail-biting score of 26-25. This triumph marks their third gold medal in Asian Games history.
• The Indian women’s kabaddi team previously secured gold at Guangzhou 2010. They defended their title at Incheon 2014. In Jakarta 2018, they finished as runners-up.
• Chinese Taipei showcased their growth in kabaddi by upgrading their bronze medal from Jakarta 2018 to silver in the Asian Games 2023.

Asian Games 2023: Jyothi Surekha Vennam wins gold medal in women’s individual compound archery, achieves rare treble

• India’s Jyothi Surekha Vennam won gold medal in the women’s individual compound archery event at the 19th Asian Games in Hangzhou, China, on Saturday. Jyothi defeated So Chaewon of South Korea 149-145 in the final to complete a hattrick of gold medals, having already won titles in the women’s and mixed team events.
• Jyothi Surekha Vennam cliched her third Gold in the ongoing 19th Asian Games in Hangzhou as archers began the final day of games events on Saturday, October 7 on a high.
• It was a slightly off start for Jyothi with an 8-pointer but she slowly came back with 10-pointers in a row as she was leading 89-87 after three rounds.

 IMPORTANT DAYS

World Cotton Day 2023:7 October

• World Cotton Day, observed on October 7 each year, emphasises cotton’s importance in generating jobs and supporting economies, especially in less developed countries. The initiative of World Cotton Day was born in 2019, when four cotton producers in sub-Saharan Africa– Benin, Burkina Faso, Chad and Mali, known as the Cotton Four -proposed the World Trade Organization a World Cotton Day celebration on October 7.
• The theme for World Cotton Day 2023, ‘Making cotton fair and sustainable for all, from farm to fashion,’ is championed by the United Nations Industrial Development Organization (UNIDO).

 SUMMITS AND MOU’S

PM Modi to inaugurate Vibrant Gujarat Summit on Jan 10

• Prime Minister Narendra Modi is set to inaugurate the 10th edition of the Vibrant Gujarat Summit on January 10, 2024. Gujarat’s Chief Minister, Bhupendrabhai Patel, has emphasized the state’s status as an attractive investment destination.
• Prime Minister Narendra Modi will inaugurate the 10th edition of the Vibrant Gujarat Summit on January 10, 2024. This event holds significance as it aligns with the Prime Minister’s vision of “Viksit Bharat @2047,” emphasizing India’s growth and development.

 APPOINTMENT & RESIGNATION

Mukesh Ambani's JioMart ropes MS Dhoni as brand ambassador

• Reliance Retail’s JioMart has signed up Mahendra Singh Dhoni, India’s most iconic cricketer, as its brand ambassador. Dhoni’s association comes alongside the rebranding of their festive campaign JioMart to “JioUtsav, Celebrations Of India,” which is scheduled to launch on October 8, 2023.
• Whether it’s electronics, groceries, fashion, or home essentials, JioMart aims to provide a wide array of choices to cater to every customer’s needs. Currently, the platform collaborates with over 1000 artisans and offers a diverse range of 150,000 unique products.

 AWARDS AND RECOGNITION

Jailed Iranian activist Narges Mohammadi wins Nobel Peace Prize

• Narges Mohammadi “for her fight against the oppression of women in Iran and her fight to promote human rights and freedom for all”. The Norwegian Nobel Committee has decided to award the Nobel Peace Prize for 2023 to to Narges Mohammadi for her fight against the oppression of women in Iran and her fight to promote human rights and freedom for all. Her brave struggle has come with tremendous personal costs. Altogether, the regime has arrested her 13 times, convicted her five times, and sentenced her to a total of 31 years in prison and 154 lashes.
• This year’s peace prize also recognises the hundreds of thousands of people who, in the preceding year, have demonstrated against Iran’s theocratic regime’s policies of discrimination and oppression targeting women. The motto adopted by the demonstrators – “Woman – Life – Freedom” – suitably expresses the dedication and work of Narges Mohammadi.

 BANKING AND ECONOMY

RBI says to continue to focus on inflation, liquidity in banking system

• In a recent announcement, the Reserve Bank of India (RBI) underscored the significance of addressing high inflation to maintain macroeconomic stability and sustainable growth. RBI Governor Shaktikanta Das emphasized the central bank’s commitment to achieving a durable 4% inflation target while keeping benchmark interest rates unchanged for the fourth consecutive meeting.
• RBI Governor Das highlighted that the Monetary Policy Committee (MPC) is steadfastly dedicated to realigning inflation with the 4% target.

 REC launches its 54EC Bonds Mobile App

• REC Limited, a prominent Non-Banking Financial Company (NBFC) specializing in Power Sector Financing and Development, announced the launch of its latest digital innovation, the ‘SUGAM REC‘mobile application. This exclusive app has been specifically designed to cater to the needs of investors interested in REC’s 54EC Capital Gain Tax Exemption Bonds.
• Section 54EC Bonds: These bonds are a type of fixed-income financial instrument that offers tax exemption on capital gains to investors, as per Section 54EC of the Income Tax Act.