Current Affairs Roundup: October 27, 2023

Stay updated with the most crucial news and events that shaped the world on October 27, 2023. From national to international headlines, economy to defense, we've got you covered.

National News

Indian Oil Introduces India’s First Reference Fuel

• India has marked a significant milestone in its automotive sector by introducing 'reference' petrol and diesel.
• These 'reference' fuels have higher specifications and are vital for calibrating and testing vehicles.
• The domestic production of 'reference' fuel is expected to reduce costs to approximately ₹450 per liter, compared to the imported cost of ₹800-850 per liter.

International News

Robert Fico Becomes Slovakia’s New Prime Minister

• Robert Fico has taken office as Slovakia's new Prime Minister for the fourth time.
• His party, Smer, won last month's elections and formed a coalition government with Hlas and the Slovak National Party.
• Fico advocates for humanitarian aid to Ukraine but opposes further military assistance and sanctions on Russia.

Italy Faces Record Low Births

• Italy is experiencing a severe demographic crisis, with the number of births hitting a new low.
• Preliminary data reveals a continuation of the country’s longstanding population decline.
• The government has allocated approximately 1 billion euros to tackle this crisis.

Defence News

EU and India Conduct Joint Naval Exercise

• India and the European Union carried out their first joint naval exercise in the Gulf of Guinea.
• The exercise aimed at strengthening maritime security in the region.
• Indian Navy’s INS Sumedha joined forces with ships from three EU member states for the exercise.

Banking News

RBI To Impose ₹100 Daily Fine For Credit Bureaus

• The Reserve Bank of India (RBI) has set a 30-day deadline for resolving customer complaints related to credit information.
• Failure to meet this deadline will result in a fine of ₹100 per day.
• This move aims to hold Credit Information Companies (CICs) accountable for delays in resolving issues related to credit information.

Business News

FPI Offload Indian Stocks in Year's Biggest Single Day Sell Off

• Foreign institutional investors (FIIs) sold ₹7,702.53 crore worth of Indian equities, marking the year's biggest single-day sell-off.
• In contrast, Domestic Institutional Investors (DIIs) were net buyers, infusing ₹6,558.45 crore into Indian stocks.

Ranks & Reports News

India Ranks Third In Fintech Unicorns

• India has secured the third position globally in the fintech landscape with 17 fintech unicorns.
• The United States and the United Kingdom hold the first and second positions, respectively.

Important Days News

World Day For Audiovisual Heritage 2023

• The World Day for Audiovisual Heritage 2023 was observed on October 27 with the theme "Your Window to the World."
• This day aims to pay homage to the professionals and institutions safeguarding our rich audiovisual heritage.

Awards News

West Bengal Teacher Named Finalist For Global Teacher Prize 2023

• Deep Narayan Nayak, a teacher from West Bengal, has been recognized as one of the top 10 finalists for the Global Teacher Prize 2023.
• The award, organized by the UK-based Varkey Foundation, celebrates exceptional educators worldwide.

Science & Technology News

China Launches Its Youngest Ever Space Crew

• China launched Shenzhou 17, marking a new chapter in its space exploration endeavors.
• The crew, with an average age of 38, is the youngest team on a space station construction mission.
• The mission includes conducting experiments in space medicine and technology.

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Current affairs quiz - 27 October 2023