IGNOU M.Com Notes and Lectures by ScoreMax

 Daily Current Affair

29 September 2022

National & International Appointments

1. Lt Gen Anil Chauhan (Retired) becomes India's second Chief of Defence Staff

• Government has appointed Lt General Anil Chauhan (retired) as the second Chief of Defence Staff (CDS) of India.
• He had retired as the Eastern Army Commander in May 2021 and was serving as the Military Advisor to the National Security Council.
• He was commissioned into the 11 Gorkha Rifles of the Indian Army in 1981.
• He is an alumnus of the NDA (Khadakwasla) and Indian Military Academy, Dehradun.
• He has also served as a United Nations mission to Angola.

 National & International Appointments

2. Government appoints R. Venkataramani as the new Attorney General of India

• R Venkataramani (Senior advocate) has been named as the 14th Attorney General of India for a period of three years w.e.f. 1st October 2022.
• He will replace current Attorney General, KK Venugopal whose term ends on September 30, 2022.
• He was registered as a lawyer with the Bar Council of TN in 1977.
• In 1997, SC has designated him as Senior Advocate.
• Earlier, Gov.t appoints Mukul Rohatgi (senior lawyer) as the Attorney General of India, but he had declined offer.

 National Affairs

3. Centre approves ₹10,000 cr plan to modernise three major railway stations

• The Union Cabinet has approved the proposal of the Indian Railways for the re-development of three major railway stations -New Delhi, Ahmedabad and Mumbai CSMT.
• This re-development project involves an investment of approximately ₹10,000 crore.
• Re-development project includes:
  • Installation of CCTV and access control.
  • Spacious roof plaza with all passenger amenities (spaces for retail, cafeterias, recreational facilities).
  • Divyang friendly facilities, etc.

 Obituaries

4. 'Gangsta's Paradise' rapper, Coolio passed away

• US rapper Coolio, who is known for the iconic hit Gangsta's Paradise, has been passed away at the age of 59 in Los Angeles.
• His real name was Artis Leon Ivey Jr, has won 1996 Grammy Awards for Gangsta's Paradise in Best Rap Solo Performance category.
• He has also received the American Music Awards in 1996.
• His other albums: It Takes a Thief (1994), My Soul (1997), Fantastic Voyage (1994), 1, 2, 3, 4 (Sumpin' New) (1996), and C U When U Get There (1997)

 Banking & Finance

5. BSE get Sebi's final approval to launch EGR

• BSE has received the final approval from SEBI for introducing the Electronic Gold Receipts (EGRs) on its platform.
• Earlier, SEBI has proposed a regulatory framework for setting up a gold exchange.
• Aim: To help in having a transparent domestic spot price discovery mechanism.
• EGRs:
  • The instruments representing gold is known as EGRs
  • It will be notified as securities, with trading, clearing and settlement features similar to other securities that are available in India

 Banking & Finance

6. World Bank, SIDBI launches fund for financing purchase of 2/3 wheelers EV

• The govt will launch $1 billion fund in collaboration with World Bank and Small Industries Development Bank of India (SIDBI).
• Aim: To provide guarantees against loan default to lenders financing purchase of 2/3 wheelers EV and facilitate faster and easier financing of EVs.
• The NITI Aayog will be the facilitating agency of the project.
• Initially a $300 million fund will be used as a “first loss risk sharing instrument.”
• Implementing institution: SIDBI

 Banking & Finance

7. Yubi partners SBI to provide credit access to priority sector

• Yubi (earlier, CredAvenue) has joined hands with the State Bank of India (SBI) to provide growth in co-lending portfolio of bank.
• Yubi Co.Lend is a co-lending marketplace, that facilitate lenders to collaborate with multiple partners and disburse joint loans to the priority sector.
• Yubi is a unified credit platform with a comprehensive product suite catering to all stages of the debt lifecycle.
• Founder and CEO, Yubi: Gaurav Kumar

 Banking & Finance

8. Samsung India, Axis Bank launch co-branded Credit Card

• Samsung has partnered with the Axis Bank to launch a co-branded credit card, that is powered by Visa.
• Benefits: Consumers will get 10% cashback across all Samsung products and services round the year.
• Variants: Visa Signature and Visa Infinite
  • Signature variant: Cardholders can avail up to ₹10,000 cashback annually, with a monthly cashback limit of ₹2,500
  • Infinite variant: Cardholders can avail up to ₹20,000 cashback annually, with a monthly cashback limit of ₹5,000

 Important Dates

9. World Heart Day 2022: September 29

• World Heart Day is observed every year on September 29 to raise awareness about the cardiovascular issues and illnesses.
• Theme 2022: Use Heart for Every Heart
• This day was created in the collaboration of the World Health Organization and the World Heart Federation (WHF).
• The President of WHF, Antoni Bayes de Luna, who served in the position from 1997 to 1999, had come up with this idea.
• Earlier, this day was originally celebrated on September 24, 2000.

 Banking & Finance

10. World Bank cuts 2022 East Asia growth outlook

• The World Bank has reduced the expected growth in the East Asia and Pacific region for 2022 to 3.2% from 5.0% (earlier forecast).
• The previous year growth of East Asia and Pacific region was 7.2%.
• Reasons:
  • Due to sharp slowdown in China that caused by its strict zero-COVID rules.
    • China strict rules have disrupted industrial production, domestic sales and exports.
  • Interest rate hikes that central banks across the world are undertaking to combat soaring inflation. 

 Banking & Finance

11. Bank of Baroda launched Khushiyon ka Tyohaar, as festive campaign

• Bank of Baroda has launched a festive campaign named "Khushiyon ka Tyohaar" with a range of offers for customers.
• BoB Home Loans are available at a competitive interest rate beginning at 7.95% p.a. with no processing charges.
• BoB Car Loans are being offered at a special rate starting from 7.95% p.a. – a 25 basis points concession.
• Other benefits: No pre-payment/ part payment charges, concessional processing charges, and longer repayment tenure of seven years.

 National Affairs

12. Bhupender Yadav releases report on 4th round of quarterly employment survey

• Labour minister, Bhupender Yadav has released the report on 4th round of quarterly employment survey (January to March 2022).
• Findings:
  • It indicates that the overall employment has increased in the last four quarterly survey.
  • The estimated employment has increased from 3.14 crore of the third quarter to 3.18 crore of 4th Quarter.
• It provides quarterly estimates about the employment and related variables of establishments in both organized and unorganized segments.

 Honours & Awards

13. Uttarakhand wins the Best Adventure Tourism Destination Award

• Uttarakhand has received the first prize for the best adventure tourism destination and all-around development of tourism from the Ministry of Tourism.
• The State’s Tourism and Culture minister, Satpal Maharaj has received the awards from Vice President Jagdeep Dhankar during the presentation of the National Tourism Awards 2018-19 in New Delhi.
• Uttarakhand Governor: Gurmit Singh; Chief minister: Pushkar Singh Dhami