Daily Current Affairs 20th Oct, 2024

Daily Current Affairs 20th Oct, 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 20th Oct, 2024. It includes all Major National, International, Business and Sports related current affairs of 20th Oct, 2024. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 20th Oct, 2024 Current affairs test.

Banking & finance

Reserve Bank of India Expands Access to Negotiated Dealing System-Order Matching Electronic Trading Platform    

• The Reserve Bank of India (RBI)widened access to its Negotiated Dealing System-Order Matching (NDS-OM) electronic trading platform to more regulated entities (REs).
• Newly eligible entities include Regional Rural Banks (RRBs), Local Area Banks, Non-Banking Financial Companies (NBFCs), Housing Finance Companies, provident funds, pension funds, and Market Infrastructure Institutions (MIIs).
• Direct Access:Direct access allows eligible entities to execute and report transactions directly on the NDS-OM platform.
• These entities must have a Subsidiary General Ledger (SGL) account and a current account with the RBI or a Designated Settlement Bank.

India’s Software Services Exports Rise to $205.2 Billion in 2023-24: RBI Survey    

• According to a Reserve Bank of India (RBI) survey, India’s total exports of software services, including services delivered by foreign affiliates of Indian companies, increased to $ 205.2 billion during 2023-24 from $ 200.6 billion in the previous fiscal.

World Bank and Asian Development Bank pledged $1.6 billion for Amaravati capital project starting January 2025   

• The World Bankand the Asian Development Bank (ADB) have committed a total of $1.6 billion (₹13,600 crore) for the Phase-I development of Amaravati, the capital city of Andhra Pradesh.
• The funds will begin to be released from January 30, 2025.

New Development Bank Approves Tenders for ₹1,734 Crore Shimla Ropeway Projects                       

• The New Development Bank (NDB)has approved the Himachal Pradesh Ropeways Corporation to float advance tenders for the construction of the Shimla ropeway project valued at ₹1,734 crore.
• The project aims to decongest the state capital, Shimla, by providing an efficient transportation alternative.

PhonePe Introduces Firecracker Insurance Policy for Diwali Celebrations

• PhonePe has collaborated with Bajaj Allianz General Insurance to offer an affordable firecracker-related accident insurance policy for Diwali.
• The policy is specifically aimed at protecting Diwali against accidents caused by firecrackers.

National News

Government plans stricter import regulations for laptops, PCs, and tablets from January 1, 2025   

• The government is evaluating ways to tighten the import authorisation and management system for laptops, PCs and tablets to make imports more restricted through appropriate guidelines to be implemented on January 1, 2025.
• The tightened import regime aims to encourage domestic manufacturing and address security concerns, particularly related to China.

Government likely to reduce spectrum lease tenure to 10 years   

• The Department of Telecommunications (DoT)is evaluating a proposal to reduce the tenure of spectrum leased to telecom operators from 20 years to 10 years.
• The decision is based on the shortening lifecycle of technology and the erosion of spectrum value over longer periods, which prevents operators from realizing its full economic potential.
• If approved, the new lease tenure will be implemented in future auctions.

State News

Karnataka Plans to Implement Fees for Gig Workers’ Welfare    

• Karnataka is set to introduce a 1-2% welfare fee on transactionsconducted through aggregator platforms (e.g., Zomato, Swiggy, Ola, Uber, Rapido, Amazon, Flipkart) to support gig workers.
• The Karnataka labour minister, Santosh Lad, stated that the state prefers to start with a lower fee of 1-2% instead of the proposed 5% under the Central Social Security Code.
• The welfare fee will be passed on to consumers, leading to a slight increase in transaction costs, estimated to be a few rupees per order.

Haryana Government, Led by Saini, Enacts Sub-Classifications for Scheduled Castes    

• The Haryana Cabinet, led by Nayab Singh Saini, held its first meeting and announced the implementation of the Supreme Court’s order regarding the sub-classification of Scheduled Castes,effective immediately.
• Significance of the Move: This decision is notable as it is the first of its kind in India following the Supreme Court’s ruling.
• It aims to strengthen the Bharatiya Janata Party’s (BJP) outreach to Dalits in the state.

Jammu and Kashmir Cabinet Passes Resolution Urging Restoration of StatehoodResolution     

• The first cabinet meeting of theOmar Abdullah government in Jammu and Kashmir was held.
• The cabinet unanimously adopted a resolution calling for the restoration of statehood to Jammu and Kashmir.

Appointments & Resignations

Chief Justice of India DY Chandrachud Recommends Justice Sanjiv Khanna as His Successor     

• Chief Justice of India Y. Chandrachud has recommended Justice Sanjiv Khanna as his successor.
• The recommendation was made in a letter to the Ministry of Law and Justice.

Bima Sugam India Federation Names Prasun Sikdar as Its 1st Managing Director and Chief Executive Officer

• Prasun Sikdarhas been appointed as the first Managing Director & Chief Executive Officer (MD & CEO) of the Bima Sugam India Federation for a three-year term.
• The appointment of the MD & CEO required approval from the Insurance Regulatory and Development Authority of India (IRDAI) as per their regulations.

Awards & Honours

Indian Space Research Organisation Chairman S. Somanath honoured with the IAF World Space Award for Chandrayaan-3 achievement   

• Indian Space Research Organisation (ISRO)announced that its Chairman S. Somanath has received the International Astronautical Federation’s (IAF) prestigious World Space Award for Chandrayaan-3’s remarkable achievement.

Sports News

Ashalata Devi poised to make history as the first Indian woman footballer to reach 100 international appearances   

• Captain Ashalata Deviwill become the first Indian woman footballer to play 100 international matches when she competes in the opening match of the SAFF Championship against Pakistan.