DPIIT & Gati Shakti Vishwavidyalaya Signed MoU to Advance National Master Plan
- Department for Promotion of Industry and
Internal Trade (DPIIT), under the Ministry of
Commerce and Industry, and the Gati Shakti
Vishwavidyalaya (GSV), Gujarat based
central university, have signed a Memorandum
of Understanding (MoU) to advance Pradhan
Mantri Gati Shakti (PMGS) National Master
Plan(NMP).
- The MoU aims to advance India’s
infrastructure and logistics sectors.
About Gati Shakti Vishwavidyalaya (GSV):
GSV, formerly known as the National Road
Transport Institute (NRTI), India‘s first
Railway University and the world’s third,
following Russia and China, which was
dedicated to India in December 2018.
Location– Vadodara, Gujarat
India-Bangladesh holds Joint Military Exercise SAMPRITI-XI 2023
- Exercise SAMPRITI-XI 2023, an annual joint military exercise between India and Bangladesh is held in
Umroi, Meghalaya, for 14 days from 3rd October to 16th October 2023
- This is the 11th edition of the Exercise, which strengthens India-Bangladesh defence cooperation by
promoting stronger bilateral connections,
cultural understanding, and reciprocal
benefits from shared experiences
- It emphasizes the necessity of improving
interoperability between the armies, as
well as sharing tactical drills and
encouraging best practises.
Key Points:
- Ex SAMPRITI-XI will include a
Command Post Exercise (CPX), a Field
Training Exercise (FTX), and a Validation
Exercise based on the conduct of SubConventional Operations as per Chapter
VII of the UN mandate.
- Command Post Exercise (CPX): 20 Officers from each contingent focusing on decision-making after
thorough deliberations.
- Field Training Exercise (FTX): grassroots-level operations will be validated including a series of joint
tactical drills for counter-terrorist operations such as hostage rescue, crowd control measures, and use of
helicopters.
The Validation Exercise will be conducted on 14th and 15th October 2023 in Darranga Field Firing Range,
Assam
About Bangladesh:
Prime Minister (PM)– Sheikh Hasina
Capital – Dhaka
Currency – Bangladeshi Taka
IndusInd Bank Launches ‘INDIE’,
a Customer Oriented Digital
Banking App
IndusInd Bank Limited launched INDIE, a
customer centric digital mobile banking
application(app), to empower customers
with an all-in-one digital financial solution.
This hyper-personalized financial superapp utilises the advanced analytics to
provide personalized insights to its
customers.
The app leverages advanced analytics to
provide personalized insights to its
customers such as smart reminders, expense tracking, and spending insights
Key Points:
- A range of financial products that can be customized to meet the individual needs of each customer. For
example, customers can get an instant line of credit up to Rs 5 lakh, with the flexibility to choose only the
amount they need and set their own loan tenor
- INDIE offers a choice of account number, high-interest-bearing savings account (upto 6.75% per
annum(p.a.) return) and fixed deposits(FD) that offer exclusive returns of up to 7.85% p.a.
The customer can also link FD to savings account so that customers can pay with fixed deposit when
savings balance is low
- INDIE also offers a transparent rewards program where customers can choose their favorite brands from
leading e-commerce platforms.Customer can earn upto 3% rewards per Rs 100 spend (1 reward point valued
at Rs 1)
About IndusInd Bank Limited:
Managing Director(MD) & Chief Executive Officer(CEO) – Sumant Kathpalia
Headquarters – Mumbai, Maharashtra
Established in – 1994
Tagline – We Make You Feel Richer
RBIH & Bhashini Collaborated for Linguistic Inclusion in Financial Services
Reserve Bank Innovation Hub (RBIH) and the Digital India Bhashini Division (DIBD/
Bhashini) collaborated to explore and
develop innovative solutions that foster
linguistic inclusivity in the financial
services sector.
This partnership aims to extend the reach
of digital financial services to users in
their native tongues, ultimately providing
seamless banking experiences for
everyone.
This collaboration is with respect to the
memorandum of Understanding(MoU)
which was signed during the Global
Fintech Fest(GFF) held in Mumbai,
Maharashtra in September 2023.
Key Points:
- As a first step of this initiative, Bhashini plans to launch RBI’s Public Tech Platform for Frictionless
Credit in multiple languages.
- This end-to-end digital credit delivery platform platform will streamline and enhance credit delivery by
financial institutions, making it more accessible to borrowers across the country
- This platform was developed by RBIH as per the announcement made by RBI in August 2023.
Significance:
- The Voice has the potential to act as a medium for promoting financial inclusivity, economic
empowerment, and enhancing financial literacy.
- BHASHINI, with its language translation and voice processing capabilities, will play a crucial role in
achieving these goals.
- BHASHINI, with its language translation and voice processing capabilities, will play a crucial role in
achieving these goals.
Reserve Bank Innovation Hub (RBIH)
The Reserve Bank Innovation Hub is a wholly owned subsidiary of the Reserve Bank of India (RBI) set-up
to promote and facilitate innovation across the financial sector.
Chief Executive Officer (CEO) – Rajesh Bansal
Headquarters – Bengaluru, Karnataka
Established in – 2022
Alexey Ivanovich Ekimov, Louis Eugene Brus, and Moungi Gabriel Bawendi Wins
Nobel Prize in Chemistry 2023
- Alexei I. Ekimov of Russia, Louis E. Brus of
the United States of America (USA), and
Moungi G. Bawendi of France were awarded
the 2023 Nobel Prize in Chemistry “for the
discovery and synthesis of quantum dots”.
- The Nobel Prize in Chemistry was awarded by
the Royal Swedish Academy of Sciences,
Stockholm, Sweden.
- Alexei Ekimov developed size-dependent
quantum effects in coloured glass.
- Louis Brus was the world’s first scientist to
prove size-dependent quantum effects in
particles floating freely in a fluid.
- Moungi Bawendi found the production
method for the synthesis of high-quality
quantum dots which makes them to be utilised in practical applications.
- Quantum dots are semiconducting crystals in nanometer size, their main property is that depending upon
their size they change their colours.
- Quantum dots are used in illuminating computer monitors and television screens based on Quantum-dot
Light-Emitting Diodes(QLED) technology.
Ramaswamy N appointed as CMD of General Insurance Corporation of India
- Ministry of Finance has appointed Ramaswamy Narayanan as Chairman and Managing Director(MD) to
General Insurance Corporation of India Limited (GIC Re) with effect from 1st October, 2023 and up to
the date of of his superannuation (i.e. 30th September 2025) or until further orders, whichever is earlier
- He succeeds Devesh Srivastava, who retired from the post on 30th September 2023. He has been serving
as CMD since December 2019.
- Prior to this appointment he was serving as the General Manager of GIC Re.
- He was appointed based on the recommendation
of Financial Services Institution Bureau (FSIB) to
Ministry of Finance in June 2023.
MP CM Shivraj Chouhan Inaugurated
India’s Largest Pumped Storage Project
at Neemuch
- Chief Minister(CM) of Madhya
Pradesh(MP) Shivraj Singh Chouhan
inaugurated India’s largest pumped
storage project in Khemla block of
Neemuch district in Madhya Pradesh. The
project is being developed by Greenko
Group, India’s largest energy storage
company
- The project has a capacity of 1440
megawatt (MW), with storage for 7.5
hours. It is being expanded to 1920 MW
with 6 hours of storage, which will
increase its daily storage capacity to
nearly 11 gigawatt hours (GWh)
- The overall investment will be Rs 11,500 crore over the next 3 years. This will generate around 4,800 jobs
during construction and 200 jobs after construction.
- The project will be completed within 30 months as against allocated period of 36 months. This will will be
able to integrate more than 7000 MW of renewable capacity