Daily Current Affairs 27th Oct, 2024: Your guide for daily General Knowledge Preparation
Dear Readers,
This post contains important current affairs of 27th Oct, 2024. It includes all Major National, International, Business and Sports related current affairs of 27th 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 27th Oct, 2024 Current affairs test.
BANKING & FINANCE
India’s Forex Reserves See $2.16 Billion Decline, Now at $688.26 Billion
- As per the Reserve Bank of India (RBI), the country’s foreign exchange reserves decreased by $2.163 billion, settling at $688.267 billion for the week ending on October 18, 2024.
- In the preceding week, the reserves had witnessed a more significant drop of $10.746 billion, bringing the total to $690.43 billion, which marked one of the most substantial declines in recent history.
Asian Development Bank Approves $434.25 Million Loan for Assam Solar Power Project
- The Asian Development Bank (ADB) has sanctioned a $434.25 million loan (approximately ₹3,600 crore) to boost renewable energy capacity and strengthen energy security in Assam.
- The project aims to elevate renewable energy infrastructure, enhance energy reliability, and diminish the state’s reliance on fossil fuels.
NATIONAL NEWS
Vishwa Samudra Engineering Secures $40 Million Funding for Varanasi Ropeway Project
- Hyderabad-based Vishwa Samudra Engineering (VSE) has obtained $40 million (over ₹322 crore) in funding from Switzerland’s Xport Finance for the construction, operation, and maintenance of an urban ropeway in Varanasi, a key constituency of Prime Minister Narendra Modi.
- This funding will contribute to an ambitious project designed to improve urban transport in the city.
IndiaAI and Meta Establish ‘Srijan’ Center for Generative AI at IIT Jodhpur
- IndiaAI and Meta have collaborated to create the Center for Generative AI, called Srijan (सृजन), at IIT Jodhpur.
- They also launched the “YuvAi Initiative for Skilling and Capacity Building” with the All India Council for Technical Education (AICTE) to encourage open-source AI development in India.
- This partnership focuses on advancing research, nurturing skills, and fostering AI innovation to support India’s vision of technological independence.
Launch of Panchayat-Level Weather Forecasting Initiative
- The Indian government has initiated a weather forecasting project at the Gram Panchayat level in New Delhi, aimed at improving disaster readiness and empowering rural communities, especially farmers.
- This initiative is a joint effort between the Ministry of Panchayati Raj, Ministry of Earth Sciences, and the India Meteorological Department (IMD).
BUSINESS NEWS
Moody’s Upgrades Vedanta Resources Ltd (VRL) Ratings Due to Funding Access
- Moody’s has upgraded the ratings on Vedanta Resources Ltd (VRL) bonds, recognizing the company’s successful access to funding.
- Vedanta’s corporate family rating was raised to B3 from Caa1, and the rating on senior unsecured bonds issued by VRL and its subsidiary, Vedanta Resources Finance II Plc, was upgraded to Caa1 from Caa2, with a ‘stable’ outlook.
NTPC Ltd Plans Major Expansion in Thermal and Renewable Energy Capacity
- State-owned NTPC Ltd plans to add 6 gigawatts (GW) to its thermal power generation capacity by the financial year 2026-27, aligning with governmental strategies to meet increasing energy demands.
- The company also has significant expansion goals for its renewable energy sector.
Government Doubles Mudra Loan Limit to Support Entrepreneurship under ‘Tarun Plus’
- Under the Pradhan Mantri Mudra Yojana (PMMY), the government has increased the maximum limit for Mudra loans from ₹10 lakh to ₹20 lakh in a new category called ‘Tarun Plus’ to further boost entrepreneurship and strengthen the country’s entrepreneurial landscape.
APPOINTMENTS & RESIGNATIONS
New Permanent Managing Director for NAFED Appointed
- The Appointments Committee of the Cabinet (ACC) has appointed Deepak Agarwal as the permanent Managing Director (MD) of the National Agriculture Cooperative Marketing Federation of India Limited (NAFED) for a five-year term. This follows a recent interim shift of responsibilities to the Cooperation Ministry.
DEFENCE NEWS
India to Participate in Euronaval 2024 Defence Exhibition in France
- India will be among 104 nations participating in Euronaval 2024, the world’s largest naval defence exhibition, scheduled to take place in Paris, France, from November 4 to 7, 2024.
SCIENCE & TECHNOLOGY
NASA Introduces New Telescope for Gravitational Wave Research
- The US National Aeronautics and Space Administration (NASA) has unveiled a prototype telescope to study gravitational waves in space.
- This telescope is part of a joint mission with the European Space Agency (ESA) called the Laser Interferometer Space Antenna (LISA).
- LISA’s primary objective is to detect and analyze gravitational waves using three spacecraft arranged in a triangular formation.
MOUS AND AGREEMENTS
YouTube Expands Shopping Affiliate Program in India
- YouTube has launched its Shopping Affiliate Program in India, enabling content creators to earn revenue by tagging products from leading e-commerce platforms like Flipkart and Myntra in their videos.
- This initiative aims to diversify creators’ income and improve the shopping experience for users.
Karnataka and University of South Wales Partner for Clean Energy Innovation
- Karnataka Renewable Energy Development Limited (KREDL) has entered into a Memorandum of Understanding (MoU) with the University of South Wales (UNSW) in Australia.
- The partnership is focused on driving innovation and supporting start-ups in the clean and renewable energy sector to accelerate the shift to sustainable energy solutions.
India and Germany Strengthen Ties with Multiple MoUs
- India and Germany have signed several Memoranda of Understanding (MoUs) and agreements to strengthen collaboration across diverse sectors, including green hydrogen, innovation, and technology.
- These agreements were formalized in New Delhi during a meeting between Prime Minister Narendra Modi and German Chancellor Olaf Scholz following high-level discussions.
