Daily Current Affairs- October 10, 2023

World Mental Health Day 2023: Why Mental Health Is A Universal Human Right

World Mental Health Day is observed on October 10 every year to promote mental well-being across the world.
The theme for 2023 is ‘Mental health is a universal human right’, which stresses the need to ensure that everyone has access to quality mental health care and support.
Adolescents and young adults are one of the groups that face many challenges and barriers to receive mental health care. They are also vulnerable to various factors that can affect their mental health, such as lack of awareness, stigma, pressure, social media, etc.
There are ways to support and protect the mental health of the young population, such as increasing education, creating a safe environment, providing accessible and affordable treatments, and empowering them to express themselves and pursue their goals.

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India and Saudi Arabia sign MoU on renewable energy and grid connectivity

India and Saudi Arabia signed a MoU on October 8 to cooperate on renewable energy and grid interconnection.
The MoU aims to build international grid connectivity between the two nations, share knowledge and technology in green hydrogen, and create a supply chain for new and renewable energy.
The MoU will also enable quick and easy exchange of electricity during peak times and emergencies.
Experts said the agreement is significant as it will deepen the energy alliance between the two nations and attract Saudi Arabian investments in Indian renewable energy, green hydrogen, and allied sectors.
The MoU is in line with India’s One Sun One World One Grid (OSOWOG) mission, which envisages interconnecting the regional grids of south-east Asia, south Asia, the middle east, Africa, and Europe for sharing renewable energy.

India and Saudi Arabia sign MoU on renewable energy and grid connectivity

India and Saudi Arabia signed a MoU on October 8 to cooperate on renewable energy and grid interconnection.
The MoU aims to build international grid connectivity between the two nations, share knowledge and technology in green hydrogen, and create a supply chain for new and renewable energy.
The MoU will also enable quick and easy exchange of electricity during peak times and emergencies.
Experts said the agreement is significant as it will deepen the energy alliance between the two nations and attract Saudi Arabian investments in Indian renewable energy, green hydrogen, and allied sectors.
The MoU is in line with India’s One Sun One World One Grid (OSOWOG) mission, which envisages interconnecting the regional grids of south-east Asia, south Asia, the middle east, Africa, and Europe for sharing renewable energy.

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IMF and World Bank meet in Morocco to discuss reforms and aid for poor nations2

The IMF and World Bank hold their first annual meetings on African soil in 50 years in Marrakesh, Morocco, after postponing it twice due to Covid and an earthquake.
The theme of the meetings is ‘Mental health is a universal human right’, which emphasizes the need for quality mental health care and support for everyone, especially adolescents and young adults.
The global lenders are expected to give Africa a third seat on their executive boards, reform their quota systems, and increase their lending capacity for new and renewable energy, green hydrogen, and grid interconnection projects.
The meetings face criticism from activists and NGOs who accuse the IMF and World Bank of imposing austerity measures, widening inequality, and ignoring debt cancellation and tax justice.

RBI halts Bank of Baroda’s digital banking app ‘bob World’ over supervisory concerns

RBI directs Bank of Baroda to stop onboarding new customers through its digital banking app ‘bob World’ with immediate effect.
RBI cites ‘material supervisory concerns’ in the manner of onboarding customers on the app as the reason for the action.
RBI says the existing customers on the app will not face any disruption and the bank can resume onboarding customers after rectifying the deficiencies and strengthening the processes.

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RBI imposes penalties on five cooperative banks for rule violation

The RBI has fined five cooperative banks for violating various norms and regulations.
The banks are SBPP Co-operative Bank, The Sahayadri Sahakari Bank, Rahimatpur Sahakari Bank, The Gadhinglaj Urban Co-operative Bank, and The Kalyan Janata Sahakari Bank.
The penalties range from Rs 1 lakh to Rs 13 lakh depending on the nature and severity of the violations.
The action is based on the RBI’s inspection of the banks’ financial position and compliance with its directions.

GST Council introduces amnesty scheme for tax appeals and clarifies property attachment rules

The GST Council has announced an amnesty scheme to allow taxpayers to file appeals against demand orders issued by tax inspectors until January 31, 2024.
The scheme aims to streamline the appeal process and provide relief to taxpayers who were unable to file appeals within the previous time limit of three months.
To avail of the scheme, taxpayers have to make a pre-deposit of 12.5 percent of the tax demand, out of which at least 20 percent or 2.5 percent has to be debited from the Electronic Cash Ledger.
The GST Council has also clarified that property attachments by tax authorities are valid only for one year, after which they have to be released. This provides clarity and security to taxpayers whose assets are temporarily seized by tax authorities.
The GST Council’s decisions are expected to make the GST system more transparent, fair, and taxpayer-friendly.

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India hosts annual joint HADR exercise with eight IOR countries

The Annual Joint Humanitarian Assistance and Disaster Relief Exercise (AJHE) is a multi-agency initiative that started in 2015 to enhance preparedness and response to natural disasters in the Indian Ocean Region (IOR).
The 2023 edition of AJHE, known as CHAKRAVAT, is hosted by the Indian Navy in Goa from October 9th to 11th. It involves the participation of eight countries from the IOR, along with various government agencies, NGOs, academic institutions, and international organizations.
The exercise consists of a seminar, a table-top exercise, a multi-agency capability demonstration, and an industrial display. The exercise covers topics such as climate change adaptation, disaster risk reduction, disaster response in IOR, and NGO collaboration.
The exercise is aligned with India’s vision for the oceans, known as SAGAR (Security And Growth for All in the Region), which emphasizes the need for collective and coordinated action to address humanitarian crises and natural disasters in the region.
The exercise showcases India’s commitment to be the ‘First Responder’ in the region and its readiness to collaborate with international partners to address the challenges posed by climate change and natural disasters in the IOR.

Outlook Group and IDFC FIRST Bank launch retirement planning event “40After40”

Outlook Group and IDFC FIRST Bank announce the launch of a two-day event and expo on retirement planning, called “40After40”, in Mumbai on January 23-24, 2024.
The event aims to provide a comprehensive platform for all retirement-related discussions, offering panel discussions, expert chats, masterclasses, interactions with financial planners, and product presentations.
The event is based on Outlook Group’s dedicated website on retirement, which provides editorial content focused on retirement planning.
The event is sponsored by IDFC FIRST Bank, a financial institution known for its customer-centric approach and robust solutions. The bank will contribute its financial experts to promote the message of timely retirement planning.
The event targets individuals of all age groups, especially those over 40, who need to become conscious of and start planning for their retirement years, as the elderly population in India is projected to increase by 41 percent over a decade.

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Celebrity Chef And Former Food Network Star, Michael Chiarello Passed Away

Michael Chiarello, a renowned restaurateur, celebrity chef, and former Food Network icon, died at 61 due to an allergic reaction.
He was born in California and opened his first restaurant, Tra Vigne, in Napa Valley in 1987. He later opened other acclaimed restaurants such as Bottega, Ottimo, and Coqueta.
He hosted several cooking shows on PBS, Food Network, Fine Living, and the Cooking Channel. His show “Easy Entertaining With Michael Chiarello” won an Emmy award and ran for 10 seasons.
He also participated as a judge and competitor on Bravo’s “Top Chef” and “Top Chef Masters” and Food Network’s “Next Iron Chef”.
He founded Chiarello Family Vineyards in 1999 to produce wines that complement his cuisine. He received many awards for his culinary achievements, including Chef of the Year by Food & Wine magazine and CIA.
He was known for his culinary brilliance, creativity, and passion for family. He influenced many chefs and home cooks with his expertise and inspiration. His legacy will live on in his dishes and wines.

Bihar Government Announces 10% Reservation for EWS in Judicial Services and Law Education

The Bihar cabinet approved a 10% reservation quota for the Economically Weaker Section (EWS) category in the state’s judicial services and government-run law colleges and universities.
The decision is based on the recent caste-based survey results that revealed the demographic profile and the need for affirmative action for the economically disadvantaged sections of society.
The reservation will be applicable for both recruitment and promotion in the judicial services, as well as admission in the law education institutions.
The government will issue a detailed notification regarding the implementation of the reservation soon.
The government also amended two manuals to give legal effect to the reservation decision.

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NLC India Ltd Secures 810 MW Solar PV Project In Rajasthan

NLC India Ltd, a Navaratna CPSE, wins an 810 MW solar photovoltaic power project from Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL).
The project is located in Bikaner district, which has high solar radiation potential. RRVUNL will provide the land and the power evacuation system for the project.
The project is expected to generate more than 50 billion units of power and offset over 50,000 tonnes of carbon dioxide emissions over its lifetime.
The project is the largest renewable energy project undertaken by NLC India Ltd, which aims to reach more than 6 GW of renewable energy capacity by 2030.
The project aligns with the Union government’s vision of augmenting renewable energy capacity in the country.

Sri Lanka to take over as Chair of Indian Ocean Rim Association1

The Indian Ocean Rim Association (IORA) is a regional organisation of 23 member states and 11 dialogue partners from Africa, West Asia, South Asia, South-East Asia, and Oceania.
The IORA Council of Ministers meeting is held annually to discuss and decide on IORA priorities. The 2023 edition is hosted by Sri Lanka in Colombo from October 9th to 11th.
Foreign Ministers of 16 countries, including India, Bangladesh, Mauritius, Iran, Malaysia, and South Africa, attend the meeting4. Sri Lanka takes over as the Chair of IORA for the next two years.
India shares maritime information on vessels of interest with IORA members and partners to enhance maritime security and cooperation in the region.
The meeting comes in the backdrop of China’s growing presence in the Indian Ocean region, which raises concerns among some countries. The meeting provides an opportunity for dialogue and collaboration on maritime issues.
India and Sri Lanka launch a ferry service connecting Nagapattinam in Tamil Nadu with Kankesanthurai in the Northern Province of Sri Lanka. This will boost connectivity, trade, and tourism between the two countries.

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Piyush Goyal Unveils ‘Status Holder’ Certificates Under Foreign Trade Policy 2023

The Union Minister of Commerce & Industry, Piyush Goyal, launched a new initiative to issue automatic ‘Status Holder’ certificates to exporters under the Foreign Trade Policy (FTP) 2023.
The certificates will be granted every year in August based on the annual export figures and other risk parameters. Exporters will not need to apply for them manually.
The certificates will provide various privileges to exporters, such as simplified procedures, priority customs clearance, exemption from banking formalities, etc.
The initiative will benefit around 20,000 exporters, especially small entities, and help India achieve its export target of US$ 2 Trillion by 2030.
The initiative is part of the government’s vision of Digital India and reflects its commitment to promote ease of doing business and transparency in trade.

Digital India Act 2023: A New Legal Framework for India’s Digital Future

The Digital India Act 2023 is a new law introduced by the Ministry of Electronics and Information Technology (MEITY) to regulate and govern the country’s evolving digital landscape.
The act aims to harmonize and consolidate digital laws in India, working alongside other key legislation like the Digital Personal Data Protection Act, National Data Governance Policy and Indian Penal Code amendments for cybercrime.
The act covers various aspects of the digital realm, such as online safety, trust, accountability, open internet, and emerging technologies like AI and blockchain.
The act replaces the outdated Information Technology Act of 2000, which was crafted in an era when the internet had only 5 million users in India.
The act aligns with the Digital India Goals for 2026, which target a USD 1 trillion digital economy and global technology leadership.

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IRDAI to Introduce ‘Bima Vahaks’ to Expand Insurance Coverage and Accessibility

IRDAI launches ‘Bima Vahaks’ initiative to create a dedicated distribution channel for insurance services in every Gram Panchayat by 2024.
‘Bima Vahaks’ are authorized to collect proposal information, KYC documents, and coordinate services related to insurance claims.
There are two categories of ‘Bima Vahaks’: individual and corporate4. Both can work with multiple insurers without any restriction.
The initiative aims to provide relief and convenience to women-centric and economically disadvantaged sections of society.
The initiative also encourages electronic payment methods for premium remittance and aligns with the Digital India vision.