Daily Current Affairs Highlights | 1, 2 and 3 October 2023

Here are the current affairs from October 1-3, 2023, across various sectors like National Affairs, International Affairs, Banking & Finance, and more.

National Affairs

Ministry of I&B Revises Cable Television Network Rules

The Ministry of Information and Broadcasting has recently amended the Cable Television Network Rules of 1994. This is a significant move as it allows Cable Operators to share their infrastructure with Broadband Service providers. This amendment aims to promote the Digital India initiative and ensure that more people have access to high-speed internet services.

DEA Hikes Interest Rate on 5-Year Recurring Deposit Scheme

In another significant development, the Department of Economic Affairs (DEA) has increased the interest rate on the 5-year recurring deposit scheme to 6.7% for the third quarter of the financial year 2023-24. This move is expected to attract more investors and provide better returns on savings.

International Affairs

India Retains 40th Rank in Global Innovation Index 2023

India has maintained its 40th rank among 132 economies in the Global Innovation Index 2023. This is a significant achievement as India continues to be the top innovation economy among lower-middle-income countries. The ranking reflects India's commitment to fostering innovation and technological advancements.

India-Argentina Social Security Agreement

A landmark Social Security Agreement was signed between India and Argentina. This agreement aims to ensure that professionals and workers from both countries can retain the benefits and contributions made toward social security when they move across borders for work.

Banking & Finance

ADB Capital Management Reforms

The Asian Development Bank (ADB) has announced capital management reforms that will release approximately $100 billion in fresh funding capacity for Asia-Pacific projects over the next decade. This is a significant move to boost infrastructure and sustainable development in the region.

SEBI Extends Deadlines for Demat and Mutual Fund Accounts

The Securities and Exchange Board of India (SEBI) has extended the deadline for adding nominees to demat accounts and mutual fund unit holders. This extension aims to provide relief to investors and ensure that their investments are secure.

Awards & Recognitions

National Service Scheme Awards 2021-2022

The President of India presented the National Service Scheme Awards for the year 2021-2022. These awards recognize outstanding contributions in voluntary community social services. The awards aim to encourage more people to engage in social work and make a difference in their communities.

2023 SASTRA Ramanujan Prize

The 2023 SASTRA Ramanujan Prize will be awarded to Ruixiang Zhang for his significant contributions to the field of Mathematics. This prestigious award aims to recognize young mathematicians who have made groundbreaking contributions to the subject.

Acquisitions & Mergers

IFC Acquires Stake in Federal Bank

The International Finance Corporation (IFC), a member of the World Bank Group, received approval from the Reserve Bank of India to acquire a 9.7% stake in Federal Bank. This acquisition aims to strengthen the bank's capital base and expand its reach.

Air India Acquires A350-900 Aircraft

Air India has completed the acquisition of its first A350-900 aircraft through a finance lease transaction with HSBC. This acquisition is part of Air India's fleet modernization plan and aims to provide better services to its passengers.

Science & Technology

Launch of IGMS 2.0 Public Grievance Portal

Union Minister of State Dr. Jitendra Singh launched the Intelligent Grievance Monitoring System (IGMS) 2.0 Public Grievance portal. This portal aims to provide a more efficient and transparent system for addressing public grievances.