- National:
- On October 7, 2024, the Union Health Ministry of India announced an increase in the monthly nutrition support for TB patients from Rs 500 to Rs 1000. This initiative is part of the government’s efforts to improve the nutritional status of TB patients, which is crucial for their recovery and overall health.
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- Assam has become the first state in India to implement Co-Districts, a new administrative structure aimed at decentralizing governance. Starting October 4, 2024, 39 co-districts were created across 21 districts. These smaller units, led by Co-District Commissioners, are expected to improve administrative efficiency and public service delivery. In Assamese, they are called Xama-Zilla.
- The Ministry of Education has launched the registration portal for the 5th phase of Yuva Sangam under Ek Bharat Shreshtha Bharat. This initiative fosters connections among youth from different states and union territories, with registrations open until October 21, 2024. Participants, aged 18-30, will gain multi-dimensional exposure in areas like tourism, traditions, development, and technology.
- On October 9, 2024, Prime Minister Narendra Modi inaugurated the Indian Institute of Skills (IIS) in Mumbai. Established in partnership with Tata IIS, the institute aims to create an industry-ready workforce for Industry 4.0 by providing training in areas like factory automation, digital manufacturing, and artificial intelligence.
- Gross enrolments under the Atal Pension Yojana (APY) have surpassed 7 crore as of October 8, 2024. This includes over 56 lakh new enrolments in the financial year 2024-25, marking a significant milestone for the scheme aimed at providing a universal social security system, especially for the poor and unorganised sector workers.
- The government announced on October 9, 2024, that 10 new ESIC medical colleges will be set up in various locations in India. This includes Andheri, Delhi, Assam, Madhya Pradesh, Rajasthan, Punjab, Gujarat, Uttar Pradesh, and Jharkhand. This is part of the Prime Minister's promise to create 75,000 new medical seats over the next five years.
- Durga Ashtami is one of the most significant days of the Durga Puja festival, celebrated on the eighth day of Navratri. This year, it falls on October 11th. Devotees worship Goddess Durga, perform special rituals, and celebrate with cultural programs, feasting, and family gatherings.
- Mahanavami falls on October 11th this year, marking the ninth day of Navratri. Devotees honor Goddess Durga in her fierce form, Mahishasuramardini, symbolizing the triumph of good over evil. The day is celebrated with grand rituals, prayers, and communal feasts.
- Banking:
- The Finance Ministry released ₹1.78 lakh crore to states in tax devolution on October 10, 2024. This includes an advance instalment of over ₹89,000 crore, in addition to the regular instalment. The largest shares went to Uttar Pradesh with ₹31,962 crore and Bihar with ₹17,921 crore, aiming to accelerate capital spending and finance development and welfare expenditures.
- The Reserve Bank of India (RBI) has increased the UPI transaction limit to ₹10,000 for users of feature phones through UPI 123Pay. This move aims to boost digital payment adoption and make financial services more inclusive, especially in areas with limited internet connectivity.
- Economy:
- According to the National Bank for Agriculture and Rural Development (NABARD) survey, the average monthly income of rural households has increased by 57.6% over the past five years, from Rs 8,059 in 2016-17 to Rs 12,698 in 2021-22. This suggests a nominal compound annual growth rate (CAGR) of 9.5%.
- The World Trade Organisation (WTO) revised its growth projection for global trade in goods in 2024 to 2.7%, up from 2.6%. However, it highlighted risks due to geopolitical tensions and policy uncertainty, particularly from the West Asia crisis. For 2025, the growth projection was adjusted down to 3% from the earlier 3.3%.
- India's textile sector is projected to grow to $350 billion by 2030, driven by strong policies, infrastructure investment, and a robust export market. This growth is expected to create 3.5 crore jobs and attract significant investments through initiatives like the PM MITRA Park and the PLI scheme.
- Science & Technology:
- Scientists from the Indian Association for the Cultivation of Science (IACS) in Kolkata have discovered a key enzyme, Tyrosyl-DNA phosphodiesterase 1 (TDP1), which could help overcome cancer drug resistance.
- Appointments:
- The Reserve Bank of India (RBI) approved the appointment of Partha Pratim Sengupta as the MD & CEO of Bandhan Bank on October 10, 2024. His three-year tenure will begin no later than November 10, 2024, following the recommendation of Bandhan Bank's Board of Directors.
- Martin Schlegel took charge as Chairman of the Swiss National Bank (SNB) Governing Board on October 1, 2024. He succeeded Thomas Jordan, who had served in the role for several years. Schlegel’s appointment marks a significant leadership change at the SNB.
Questions:
1 Who has been appointed as the new MD & CEO of Bandhan Bank, as approved by the RBI on October 10, 2024?
- A) Sunil Mehta
- B) Partha Pratim Sengupta
- C) Rajnish Kumar
- D) Sandeep Bakhshi
2 What is the revised growth projection for global trade in goods by the World Trade Organisation (WTO) for the year 2024?
- A) 2.6%
- B) 3.3%
- C) 3.0%
- D) 2.7%
