1. Deputy governor of RBI: M Rajeshwar Rao

The central government has appointed M Rajeshwar Rao as deputy governor of the Reserve Bank of India.

He is currently the executive director of RBI. . Rao succeeds NS Vishwanathan as the fourth deputy governor.

He has been associated with the Reserve Bank since 1984, holding various positions.

He took charge as an executive director of the central bank in 2016.

2. Ex-CBI director Ashwani Kumar passed away

Former governor and CBI chief Ashwani Kumar was found dead in his Shimla house on 7 October 2020.

Kumar, a 1973 batch officer of the Indian Police Service, headed the Central Bureau of Investigation from August 2008 to November 2010.

Manmohan Singh government appointed him as Nagaland governor in March 2013.

Kumar was the first CBI chief to be appointed to a gubernatorial office.

3. ADIA to invest 35,512 crore in Reliance

Reliance Industries Ltd, led by Mukesh Ambani, said that a subsidiary of the Abu Dhabi Investment Authority (ADIA) will invest 7551250 crore for 1.2% stake in its retail arm.

This investment values Reliance Retail Ventures Ltd (RRVL) at a pre-money equity value of 4.285 lakh crore.

ADIA’s investment will translate into a 1.2% equity stake in RRVL on a fully diluted basis.

4. UGC declares 24 universities as fake

The University Grants Commission (UGC) announced a list of 24 self-styled, unrecognised institutions in the country, terming them as fake.

While eight of these universities are from Uttar Pradesh, Delhi has seven, and Odisha and West Bengal two each.

Karnataka, Kerala, Maharashtra, Puducherry and Maharashtra have one fake university each.

5. Jaideep Mazumdar next Ambassador to Holy See

Diplomat Jaideep Mazumdar has been concurrently accredited as the next Ambassador of India to the Holy See, the Ministry of External Affairs.

Mazumdar is from the 1989 batch of the Indian Foreign Service and is presently Indian Ambassador to Austria.

He will have his residence in Vienna. Earlier, he was Indian Ambassador to the Philippines.

6. Visakhapatnam Port trust sets record

The Visakhapatnam Port Trust shipped a record 72.72 million tonnes of cargo during the 2019-20 financial year against 65.30 million tonnes handled in 2018-19.

It accounts an increase of 11 per cent, said Visakhapatnam port trust chairman K Ram Mohan Rao.

Rao also said that the Visakhapatnam Port Trust transported 32.77 million tonnes of cargo in the first half of the 2020-21 financial year.

7. Assam CM launches Kisan Rath Mobile App

Assam Chief Minister Sarbananda Sonowal launched Kisan Rath (Fruits & vegetables) Mobile App.

It will facilitate timely selling of agriculture products by promoting buyer-seller network in a programme.

The App developed, designed and technically maintained by National Informatics Centre will be implemented on the ground by the Assam Agribusiness and Rural Transformation (APART) project.

8. Biotechnology Park In J-K’s Kupwara

The Kupwara district of Jammu and Kashmir, which was deprived of new developments, will soon house an industrial biotechnology park, which will offer state-of-the-art facilities to start-ups.

The park aims to help budding start-ups in the Valley to build innovation-led, knowledge-based bio-businesses. The biotechnology park will be run by CSIR – IIIM.

9. Uday Shankar to step down as chairman

Uday Shankar will step down as President, the Walt Disney Company APAC and chairman, Star and Disney India, effective 31 December 2020.

Shankar will remain with Disney’s direct-to-consumer and international segment through the end of 2020 to ensure a smooth transition.

Previously, he was president of 21st Century Fox for Asia and the chairman and CEO of Star India.

10. Ravi Shastri launches personal care brand

Former cricketer and Indian cricket team coach Ravi Shastri is turning entrepreneur with the launch of a male grooming and hygiene products line 23 Yards:

He has partnered with personal care manufacturer Ador Multi products Ltd, which will help create grooming products.

These will include beard oils, body wash, aftershave, deodorant and hand sanitizer for a target group of 25 to 40 years.

11. Maharashtra: 1st state to cap prices of masks

In Maharashtra, the committee appointed to control the price of masks and sanitizers, has submitted a report to the State Government.

After the approval of the government, it will be mandatory to sell masks at the revised rate.

With this, Maharashtra will become the first state to cap the prices of masks. The prices of sanitizers are also being capped as well.

12. Zydus Cadila launches new product

Drug firm Zydus Cadila is launching pressurized metered-dose inhaler for patients suffering from Chronic Obstructive Pulmonary Disease (COPD) in India. Forglyn pMDI is India’s first pressurized Metered Dose Inhaler.

Forglyn PMDI is priced at 3495 per pack and has been developed in-house using Zydus’ innovations in formulation technology.

13. Titan exits joint venture with Montblanc

Titan Co. Ltd has announced an end to its five-year-old joint venture partnership with German luxury brand Montblanc.

Titan’s decision to exit the joint venture agreement was driven by the company’s consolidation strategy to focus on its primary business and proprietary brands such as Tanishq Jewellery and Titan watches.

14. US to open an office in Bangladesh

In order to boost its economic ties with Bangladesh, the US will open it Foreign Commercial Service Office in Dhaka.

Bangladesh and the US agreed to implement reforms to improve the investment climate for US-sourced Foreign Direct Investment (FDI) in Bangladesh

The US agreed to ask the American companies to invest in key sectors like energy, IT, pharmaceutics and agriculture.

15. IRCTC to restart Tejas Express from Oct 17

IRCTC will restart the first set of private Tejas Express, Lucknow-New Delhi and Ahmedabad-Mumbai trains from 17th of October 2020.

The operation of these two Tejas Trains was suspended from 19th of March 2020 due to spread of COVID-19 pandemic.

Every alternate seat will be kept vacant following the social distancing norms for the initial period.

16. Kharif marketing season began from Sept 26

The Government informed that Kharif marketing season 2020-21 has started early this year and it began from 26 September 2020.

Procurement of paddy so far is 23 per cent more than procurement in the corresponding period in 2019.

The total procurement of paddy is estimated to be 738 lakh metric tonnes against the total procurement of 627 lakh metric tonnes during 2019.

17. MoU between ZSI and Canada’s İBOL

The Union Cabinet has approved an MoU between India’s Zoological Survey of India (ZSI) and Canada’s not-for-profit organisation International Barcode of Life (iBOL).

The MoU was signed in June 2020 between ZSI, a subordinate organisation under Ministry of Environment, and IBOL.

The MoU will enable ZSI to participate in global level programmes like Bioscan and Planetary Biodiversity Mission.

18. Cabinet approves agreement with Japan

The Union Cabinet has given its approval for signing a Memorandum of Cooperation (MOC) in the field of cybersecurity between India and Japan.

It is aimed at enhancing cooperation in emerging technologies, protection of critical infrastructure, cyberspace and to mitigate threats to communication networks. It wll also strengthen the security of ICT infrastructure.

19. Kolkata East-West Metro Corridor gets nod

The Union Cabinet has approved the Railway Ministry’s proposal for a revised cost estimate for the construction of the Kolkata East-West Metro Corridor project at 78,575 crores.

The 16.6km corridor will have 12 stations between Salt Lake Sector-V and Howrah Maidan.

The project will be implemented by a special purpose vehicle, Kolkata Metro Rail Corp. Ltd set up under the railway ministry.

20. Major reforms in Natural Gas Marketing

The Government has given a nod to major reforms in the marketing of Natural Gas in the country.

The Cabinet, under the chairmanship of Prime Minister, approved the reforms to push the usage of Natural Gas.

The government will initiate standardised e-bidding for bringing transparency in the price of Natural Gas in the country.

21. Interest subvention on MSME loans extended

Two per cent interest subvention scheme for MSMEs on loans offered by co-operative banks has been extended till the 31st of March 2021.

The coverage of the scheme is limited to all term loans and working capital to the extent of 100 lakh rupees.

The requirement of Udyog Aadhaar Number may be dispensed with for units eligible for GST.

22. First ever Brand and Logo for Indian Cotton

Minister of Textiles Smriti Irani has launched the first-ever Brand and Logo for Indian Cotton on Second World Cotton Day through video conferencing.

Now India’s premium cotton would be known as ‘Kasturi Cotton’ in the world cotton trade. The Kasturi Cotton brand will represent Whiteness, Brightness, Softness, Purity, Luster, Uniqueness and Indianness.

23. PM Modi launches ‘ Jan Andolan’ campaign

Prime Minister Narendra Modi has launched a campaign ‘Jan Andolan’ for COVID-19 Appropriate Behaviour.

The campaign has been launched in view of the upcoming festivals and winter season as well as the opening up of the economy.
He also urged the people to always remember to wear a mask, wash hands, follow social distancing.

24. Indian Air Force Day: 8 October

Indian Air Force is celebrating its 88th Anniversary on 8 Oct 2020. The IAF was founded on 8th of October in 1932.

An air display by various aircraft will be the hallmark of the Air Force Day Parade-cum-Investiture Ceremony at Air Force Station Hindan, Ghaziabad.

The air display will commence with flag bearing skydivers of the famous AKASH GANGA Team dropping out of an AN-32 aircraft.

25. Reliance, Satsure Analytics in tie up

Reliance General Insurance Company Ltd. (RGICL) has partnered with SatSure Analytics for satellite-based crop monitoring and predictive analytics support.

It will help in better risk management and improving the efficiency of its crop insurance business operations.
RGICL will supply extensive ground observation data and generate timely reports through SatSure’s SAGE platform.

26. NABARD to provide aid for organic seed parks

The National Bank for Agriculture and Rural Development (NABARD) will provide “grant assistance” to two first-of-its-kind Organic Spices Seed Park in Patan and Banaskantha districts of Gujarat

One for cumin (jeera) is coming up in Patan, and for fennel (saunf) in Banaskantha. In each of the parks, it is going to provide an assistance of Rs 23 lakhs.

27. HDFC Bank partners with Apollo Hospitals

HDFC Bank and Apollo Hospitals have joined hands to launch The Healthy Life Programme.

It is a holistic healthcare solution which makes healthy living accessible and affordable on Apollo’s digital platform, Apollo 24/7.
It is created exclusively for HDFC Bank customers who will get round the clock access to emergency Apollo Doctor at No Cost on Apollo 24/7 along with other benefits.

28. UP govt signs pact with Zurich Airport

The UP government has signed a concession agreement with representatives of Zurich Airport International.

It has been signed for designing, building and operating Noida International Airport at Jewar for a period of 40 years.

The airport will be developed as a Public-Private Partnership (PPP) and is scheduled to open in 2024.

29. J Venkatraman: CEO of India Post Payments Bank

A Cabinet panel has appointed J Venkatraman as MD and chief executive officer (CEO) of India Post Payments Bank for three years.

Venkatramu has over 22 years of work experience across banking services such as payments, mobile banking, retail banking products and has also managed digital financial services projects.

He is currently the chief digital officer at Equitas Small Finance Bank.

30. Sheikh Meshaal as Crown Prince of Kuwait

Sheikh Meshaal Al-Ahmed Al-Jaber Al-Sabah has been chosen by Kuwait’s new emir to serve as crown prince.

Sheikh Meshaal is the half brother of the current emir. He has never held any political post but has been a prominent member of the ruling family for two decades, serving since 2004 as deputy chief of the National Guard.

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