Daily Current Affairs- 8 October

Author : Palak Khanna

Updated On : October 8, 2022

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Today's Current Affairs - 8th October 2022

NATIONAL

Centre sets up 9-member taskforce for monitoring cheetahs in Kuno National Park

  • The Center has established a Task Force to oversee the introduction of cheetahs in Madhya Pradesh’s Kuno National Park and other suitably specified places. The National Tiger Conservation Authority (NTCA) would support the Cheetah Task Force’s operations and provide all essential assistance. Principal Secretaries of Madhya Pradesh’s Forests and Tourism, as well as Dr. Amit Mallick, Inspector General of the NTCA in New Delhi, will be among the task force’s nine members.
  • The Task Force will be active for two years, according to a statement from the Ministry of Environment, Forests, and Climate Change.
  • Additionally, the Task Force for Cheetah Introduction Project Monitoring will keep an eye on the cheetahs’ adaption to the Kuno National Park ecosystem and their hunting prowess.
  • Additionally, it will advocate for the construction of tourism-related infrastructure in the surroundings of Kuno National Park and adjacent Protected Areas.

Justice Dinesh Sharma to head UAPA tribunal related to the ban on PFI

  • The government of India has appointed Justice Dinesh Kumar Sharma of the Delhi High Court as the presiding officer of the tribunal for the Unlawful Activities Prevention Act (UAPA), related to the ban on the Popular Front of India (PFI) and its associates. Once an organisation is banned under the provisions of UAPA, a tribunal is set up by the government to adjudicate whether there are sufficient grounds for the decision.
  • The office memorandum, issued by the Department of Justice in the Law Ministry on October 3, mentioned that Justice Sharma’s time as head of the UAPA tribunal will count as “actual service”. Chief Justice S.C. Sharma of the Delhi High Court appointed Justice Sharma to head the tribunal that will examine the ban.

 APPOINTMENTS & RESIGNATIONS

Bank of India Mutual Fund appoints Mohit Bhatia as CEO

  • The appointment of Mohit Bhatia as CEO of Bank of India Investment Managers Private Ltd (Bank of India Mutual Funds) has been made public. In the fields of sales and distribution, team development, marketing & branding, and the creation of digital eco-systems, Bhatia has more than 26 years of professional expertise.
  • Mohit Bhatia ‘s most recent position was head of sales and marketing at Canara Robeco Asset Management Company Ltd.
  • The Bank of India Mutual Funds firm achieved 50,000 crores in assets under management (AUM) during his leadership.
  • Bank of India’s wholly-owned subsidiary, Bank of India Investment Managers Private Ltd (Bank of India Mutual Funds)

Ex-CJI named head of panel on SC status for Dalit converts

  • The Union Government has appointed a three-member commission, headed by former Chief Justice of India K G Balakrishnan, to consider the possibility of granting SC status to “new persons who have historically belonged to the Scheduled Castes’’ but have converted to religions other than Hinduism, Buddhism and Sikhism.
  • According to a notification issued by the Union Ministry of Social Justice and Empowerment, the commission will also include retired IAS officer Dr Ravinder Kumar Jain and UGC member Prof (Dr) Sushma Yadav as members.
  • The Constitution (Scheduled Castes) Order, 1950, stipulates that no person professing a religion different from Hinduism, Sikhism or Buddhism can be deemed to be a member of a Scheduled Caste. The original order under which only Hindus were classified was later amended to include Sikhs and Buddhists.

 IMPORTANT DAYS

World Migratory Bird Day 2022: 8th October

  • Since its creation in 2006, World Migratory Bird Day has been commemorated twice a year. It is supposed to be celebrated on the second Saturday of May and the second Saturday of October. This year, it was previously celebrated on 14 May and for the second time, the world marks this day again today, 8 October. At least 4,000 different bird species travel long distances, making up about 40% of the world’s bird population. The purpose of World Migratory Bird Day is to increase public awareness on the issues migrating birds encounter, their ecological importance, and the need for global cooperation to safeguard them. They migrate in search of food. Twice a year, these birds spend the winter in warmer regions before coming home to reproduce.

Indian Air Force raising day 2022: 8th October

  • Indian Air Force was raised on October 8, 1932, and it is completing 90 years today. The day and its observance is a matter of pride for Indians and inspire a patriotic zeal among the citizenry for the air arm of the Indian Armed Forces. The President of India is the Commander-in-chief of the IAF. This time Air Force Day flypast is scheduled to take place over Sukhna Lake in Chandigarh this afternoon.
  • In a historic first, the parade and fly-past of Air Force day have been moved out of the national capital region by the Indian Air Force. President Draupadi Murmu and Defence Minister Rajnath Singh will be present on this occasion. Indian Air Force was officially established on 8 October 1932 by the British Empire as the Royal Indian Air Force. The name was changed to Indian Air Force in 1950. This time 75 aircrafts will participate in the flypast, while 9 aircrafts will be kept on standby mode. The light combat helicopter LCH which were recently inducted in the IAF will also showcase its air capabilities in the sky at Sukhna lake. Tejas, Sukhoi, MIG -29, Jaguar, Rafale, and Hawk will also be part of fly past.

 SUMMIT'S & MOU's

India - New Zealand Navies sign White Shipping pact

  • The Royal New Zealand navy and the Indian navy have signed a contract on the exchange of White Shipping Information Exchange. Chief of Naval Staff, Admiral R. Hari Kumar and New Zealand Navy Chief Rear Admiral David Proctor signed the contract. In order to encourage more openness in the Maritime Domain, the agreement was signed.
  • From September 29 to October 1, 2022, CNS Admiral Hari Kumar was in New Zealand. According to the Ministry of Defence, “during the visit, an agreement on White Shipping Information Exchange was inked.
  • The convergence viewpoints of both nations to encourage more openness in the maritime domain support closer collaboration for improving common maritime domain awareness.
  • The communication of previous knowledge regarding the location and identification of commercial, non-military merchant boats is known as the White Shipping Information.

 BANKING AND ECONOMY

Indian government kicks off IDBI Bank strategic disinvestment

  • After facing challenges in the plan to privatise IDBI Bank, the government has asked the Reserve Bank of India to consider tweaking the promoter criteria that may bring a wider pool of bidders for public sector banks. There are currently 12 public sector banks.
  • The bank privatisation has come a cropper because RBI’s norms are clear that no existing bank can promote a new bank, and the same promoter cannot promote another bank, a source said. “This has limited the pool of possible bidders and the government wants RBI to take a relook.
  • The Budget for 2021-22 (Apr-Mar) had proposed privatising two public sector banks and one general insurance company. Privatisation of public sector banks will require legislative amendments. The Banking Laws (Amendment) Bill 2021, which was listed for business in the Winter session last year, has not yet been introduced in Parliament due to protests by bank unions.
  • Although the government has been insisting it will take forward the plans to privatise public sector banks, the fact that IDBI Bank’s stake sale process is yet to find takers shows the bidding pool has been slim. The government has to also bring in a law that sets the stage for privatisation of public sector banks.

World Bank lowers India’s FY23 growth forecast to 6.5%

  • The World Bank cut its 2022-23 (FY23) real gross domestic product (GDP) growth forecast for India to 6.5%, from an earlier estimate of 7.5%, while warning that spillovers from Russia’s invasion of Ukraine and global monetary tightening will weigh on the economic outlook.
  • In its twice-a-year report on South Asia, the World Bank said, “Private investment growth is likely to be dampened by heightened uncertainty and higher financing costs.” The international financial institution also noted that slowing global demand will impact the country’s exports. This is the third time the World Bank has revised its GDP growth forecast for India in FY23. In June, it had slashed its FY23 GDP growth forecast for India to 7.5%. Earlier in April, it had trimmed the forecast from 8.7% to 8%.
  • The Reserve Bank of India (RBI) has recently cut the economic growth projection for the current fiscal to 7% from 7.2% estimated earlier on account of extended geopolitical tensions and aggressive monetary policy tightening globally. The RBI in April had cut GDP growth estimate to 7.2% from its earlier forecast of 7.8%.

Indians Account for 80% of Those Who Became Poor Globally in 2020 Due to COVID-19: World Bank

  • About 56 million Indians may have plunged into extreme poverty in 2020 as a result of the pandemic, increasing the global tally by 71 million and making it the worst year for poverty reduction since World War II, according to fresh estimates by the World Bank.
  • “The global goal of ending extreme poverty by 2030 is likely to be missed: By then, about 600 million people will remain in abject poverty. A major course correction is needed,” Indermit Gill, chief economist at the World Bank, tweeted. The World Bank in its latest “Poverty and Shared Prosperity” made fresh estimates of poverty using a new extreme poverty line based on the purchasing power parity (PPP) of $2.15, the earlier one being at $1.9.
  • For almost 25 years, the number of people living in extreme poverty — on less than $2.15 per person per day — was steadily declining. But the trend was interrupted in 2020, when poverty rose due to the disruption caused by the COVID-19 crisis combined with the effects of conflict and climate change — which had already been slowing poverty reduction.

 

Daily Current Affairs- 8 October

Author : Palak Khanna

October 8, 2022

SHARE

Today's Current Affairs - 8th October 2022

NATIONAL

Centre sets up 9-member taskforce for monitoring cheetahs in Kuno National Park

  • The Center has established a Task Force to oversee the introduction of cheetahs in Madhya Pradesh’s Kuno National Park and other suitably specified places. The National Tiger Conservation Authority (NTCA) would support the Cheetah Task Force’s operations and provide all essential assistance. Principal Secretaries of Madhya Pradesh’s Forests and Tourism, as well as Dr. Amit Mallick, Inspector General of the NTCA in New Delhi, will be among the task force’s nine members.
  • The Task Force will be active for two years, according to a statement from the Ministry of Environment, Forests, and Climate Change.
  • Additionally, the Task Force for Cheetah Introduction Project Monitoring will keep an eye on the cheetahs’ adaption to the Kuno National Park ecosystem and their hunting prowess.
  • Additionally, it will advocate for the construction of tourism-related infrastructure in the surroundings of Kuno National Park and adjacent Protected Areas.

Justice Dinesh Sharma to head UAPA tribunal related to the ban on PFI

  • The government of India has appointed Justice Dinesh Kumar Sharma of the Delhi High Court as the presiding officer of the tribunal for the Unlawful Activities Prevention Act (UAPA), related to the ban on the Popular Front of India (PFI) and its associates. Once an organisation is banned under the provisions of UAPA, a tribunal is set up by the government to adjudicate whether there are sufficient grounds for the decision.
  • The office memorandum, issued by the Department of Justice in the Law Ministry on October 3, mentioned that Justice Sharma’s time as head of the UAPA tribunal will count as “actual service”. Chief Justice S.C. Sharma of the Delhi High Court appointed Justice Sharma to head the tribunal that will examine the ban.

 APPOINTMENTS & RESIGNATIONS

Bank of India Mutual Fund appoints Mohit Bhatia as CEO

  • The appointment of Mohit Bhatia as CEO of Bank of India Investment Managers Private Ltd (Bank of India Mutual Funds) has been made public. In the fields of sales and distribution, team development, marketing & branding, and the creation of digital eco-systems, Bhatia has more than 26 years of professional expertise.
  • Mohit Bhatia ‘s most recent position was head of sales and marketing at Canara Robeco Asset Management Company Ltd.
  • The Bank of India Mutual Funds firm achieved 50,000 crores in assets under management (AUM) during his leadership.
  • Bank of India’s wholly-owned subsidiary, Bank of India Investment Managers Private Ltd (Bank of India Mutual Funds)

Ex-CJI named head of panel on SC status for Dalit converts

  • The Union Government has appointed a three-member commission, headed by former Chief Justice of India K G Balakrishnan, to consider the possibility of granting SC status to “new persons who have historically belonged to the Scheduled Castes’’ but have converted to religions other than Hinduism, Buddhism and Sikhism.
  • According to a notification issued by the Union Ministry of Social Justice and Empowerment, the commission will also include retired IAS officer Dr Ravinder Kumar Jain and UGC member Prof (Dr) Sushma Yadav as members.
  • The Constitution (Scheduled Castes) Order, 1950, stipulates that no person professing a religion different from Hinduism, Sikhism or Buddhism can be deemed to be a member of a Scheduled Caste. The original order under which only Hindus were classified was later amended to include Sikhs and Buddhists.

 IMPORTANT DAYS

World Migratory Bird Day 2022: 8th October

  • Since its creation in 2006, World Migratory Bird Day has been commemorated twice a year. It is supposed to be celebrated on the second Saturday of May and the second Saturday of October. This year, it was previously celebrated on 14 May and for the second time, the world marks this day again today, 8 October. At least 4,000 different bird species travel long distances, making up about 40% of the world’s bird population. The purpose of World Migratory Bird Day is to increase public awareness on the issues migrating birds encounter, their ecological importance, and the need for global cooperation to safeguard them. They migrate in search of food. Twice a year, these birds spend the winter in warmer regions before coming home to reproduce.

Indian Air Force raising day 2022: 8th October

  • Indian Air Force was raised on October 8, 1932, and it is completing 90 years today. The day and its observance is a matter of pride for Indians and inspire a patriotic zeal among the citizenry for the air arm of the Indian Armed Forces. The President of India is the Commander-in-chief of the IAF. This time Air Force Day flypast is scheduled to take place over Sukhna Lake in Chandigarh this afternoon.
  • In a historic first, the parade and fly-past of Air Force day have been moved out of the national capital region by the Indian Air Force. President Draupadi Murmu and Defence Minister Rajnath Singh will be present on this occasion. Indian Air Force was officially established on 8 October 1932 by the British Empire as the Royal Indian Air Force. The name was changed to Indian Air Force in 1950. This time 75 aircrafts will participate in the flypast, while 9 aircrafts will be kept on standby mode. The light combat helicopter LCH which were recently inducted in the IAF will also showcase its air capabilities in the sky at Sukhna lake. Tejas, Sukhoi, MIG -29, Jaguar, Rafale, and Hawk will also be part of fly past.

 SUMMIT'S & MOU's

India - New Zealand Navies sign White Shipping pact

  • The Royal New Zealand navy and the Indian navy have signed a contract on the exchange of White Shipping Information Exchange. Chief of Naval Staff, Admiral R. Hari Kumar and New Zealand Navy Chief Rear Admiral David Proctor signed the contract. In order to encourage more openness in the Maritime Domain, the agreement was signed.
  • From September 29 to October 1, 2022, CNS Admiral Hari Kumar was in New Zealand. According to the Ministry of Defence, “during the visit, an agreement on White Shipping Information Exchange was inked.
  • The convergence viewpoints of both nations to encourage more openness in the maritime domain support closer collaboration for improving common maritime domain awareness.
  • The communication of previous knowledge regarding the location and identification of commercial, non-military merchant boats is known as the White Shipping Information.

 BANKING AND ECONOMY

Indian government kicks off IDBI Bank strategic disinvestment

  • After facing challenges in the plan to privatise IDBI Bank, the government has asked the Reserve Bank of India to consider tweaking the promoter criteria that may bring a wider pool of bidders for public sector banks. There are currently 12 public sector banks.
  • The bank privatisation has come a cropper because RBI’s norms are clear that no existing bank can promote a new bank, and the same promoter cannot promote another bank, a source said. “This has limited the pool of possible bidders and the government wants RBI to take a relook.
  • The Budget for 2021-22 (Apr-Mar) had proposed privatising two public sector banks and one general insurance company. Privatisation of public sector banks will require legislative amendments. The Banking Laws (Amendment) Bill 2021, which was listed for business in the Winter session last year, has not yet been introduced in Parliament due to protests by bank unions.
  • Although the government has been insisting it will take forward the plans to privatise public sector banks, the fact that IDBI Bank’s stake sale process is yet to find takers shows the bidding pool has been slim. The government has to also bring in a law that sets the stage for privatisation of public sector banks.

World Bank lowers India’s FY23 growth forecast to 6.5%

  • The World Bank cut its 2022-23 (FY23) real gross domestic product (GDP) growth forecast for India to 6.5%, from an earlier estimate of 7.5%, while warning that spillovers from Russia’s invasion of Ukraine and global monetary tightening will weigh on the economic outlook.
  • In its twice-a-year report on South Asia, the World Bank said, “Private investment growth is likely to be dampened by heightened uncertainty and higher financing costs.” The international financial institution also noted that slowing global demand will impact the country’s exports. This is the third time the World Bank has revised its GDP growth forecast for India in FY23. In June, it had slashed its FY23 GDP growth forecast for India to 7.5%. Earlier in April, it had trimmed the forecast from 8.7% to 8%.
  • The Reserve Bank of India (RBI) has recently cut the economic growth projection for the current fiscal to 7% from 7.2% estimated earlier on account of extended geopolitical tensions and aggressive monetary policy tightening globally. The RBI in April had cut GDP growth estimate to 7.2% from its earlier forecast of 7.8%.

Indians Account for 80% of Those Who Became Poor Globally in 2020 Due to COVID-19: World Bank

  • About 56 million Indians may have plunged into extreme poverty in 2020 as a result of the pandemic, increasing the global tally by 71 million and making it the worst year for poverty reduction since World War II, according to fresh estimates by the World Bank.
  • “The global goal of ending extreme poverty by 2030 is likely to be missed: By then, about 600 million people will remain in abject poverty. A major course correction is needed,” Indermit Gill, chief economist at the World Bank, tweeted. The World Bank in its latest “Poverty and Shared Prosperity” made fresh estimates of poverty using a new extreme poverty line based on the purchasing power parity (PPP) of $2.15, the earlier one being at $1.9.
  • For almost 25 years, the number of people living in extreme poverty — on less than $2.15 per person per day — was steadily declining. But the trend was interrupted in 2020, when poverty rose due to the disruption caused by the COVID-19 crisis combined with the effects of conflict and climate change — which had already been slowing poverty reduction.

 

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