Top Current Affairs 24 October 2021

Top Current Affairs 24 October 2021

Top Current Affairs 24 October 2021: This post contains the current affairs for 24 October 2021 that are important for competitive exams like IBPS PO and Clerk, SBI PO and Clerk, RBI Assistant and Grade B, other Insurance exams. You can also attempt our Current Affairs Quiz after reading our daily current affairs.

Banking & Economy

RBI introduces Scale Based Regulation (SBR) for NBFCs

• The Reserve Bank of India has put in place a revised regulatory framework for NBFCs which is a Scale Based Regulation (SBR). These guidelines shall be effective from October 01, 2022.
• Now for regulation of NBFCs under the new Scale Based Regulation (SBR), RBI has categorized NBFCs into four layers (or 4 scales) based on their size, activity, and perceived riskiness. These are: NBFC – Base Layer (NBFC-BL), NBFC – Middle Layer (NBFC-ML), NBFC – Upper Layer (NBFC-UL) and NBFC – Top Layer (NBFC-TL).
• The Top Layer will ideally remain empty. This layer can get populated if the Reserve Bank is of the opinion that there is a substantial increase in the potential systemic risk from specific NBFCs in the Upper Layer.
• Minimum Net Owned Fund Requirement: Regulatory minimum Net Owned Fund (NOF) for NBFC-ICC, NBFC-MFI and NBFC-Factors will be increased to Rs. 10 crore (from Rs 2 crore at present).
• For NBFC-P2P, NBFC-AA, and NBFCs with no public funds and no customer interface, the NOF shall continue to be Rs. 2 crore.
• Ceiling on IPO Funding: There will be a ceiling of Rs. 1 crore per borrower for financing subscription to Initial Public Offer (IPO) of NBFCs. This IPO ceiling will come into effect from April 01, 2022.

National

DRDO Successfully flight-tests High-Speed Expendable Aerial Target ‘ABHYAS’

• The Defence Research and Development Organisation (DRDO) successfully flight-tested the High-speed Expendable Aerial Target (HEAT)- ABHYAS, from the Integrated Test Range (ITR), Chandipur off the coast of Bay of Bengal in Odisha on October 22, 2021.
• ABHYAS is designed & developed by DRDO laboratory, Aeronautical Development Establishment (ADE), Bengaluru, for the Indian Armed Forces.
• The air vehicle ABHYAS can be used as an aerial target for evaluation of various missile systems.

Chhattisgarh Launches “Shri Dhanwantri Generic Medical Store” Scheme

• Chhattisgarh Chief Minister Bhupesh Baghel has launched a scheme titled ‘Shri Dhanwantri Generic Medical Store’ which aims to provide medicines at low and affordable rates to consumers.
• Under the ‘Shri Dhanwantri Generic Medical Store’ scheme, Generic medicines will be 50 to 71 percent cheaper at these medical stores.
• The scheme will be run by Urban Administration and Development Department.
• It is proposed to set up 188 medical stores in 169 urban bodies of the state.
• These medical stores will sell 251 types of generic medicines and 27 surgical products.
• The initiative is part of the state government’s effort to make healthcare services accessible to the poorest of poor in the state.

International

FATF retains Pakistan on its ‘Grey List’ of countries, while three new countries added

• The global terror financing watchdog Financial Action Task Force (FATF) has retained Pakistan on its ‘Grey List’ of countries, due to its failure to fulfill remaining FATF mandates within stipulated time.
• Pakistan has addressed 30 of the 34 action plan items, and only four action items remain to be completed. In June 2021, FATF gave three months to Pakistan, to fulfil the remaining conditions by October.
• Meanwhile three new countries have also been added to the Paris-based FATF’s Grey List. These are Turkey, Jordan, and Mali.
• Pakistan has been on the Grey List by the FATF since June 2018 due to deficiencies in its counter-terror financing and anti-money laundering regimes and failure to comply with the FATF mandates.
• Being in the grey list, Pakistan cannot get financial aid from the International Monetary Fund (IMF), World Bank, Asian Development Bank (ADB) and the European Union.

Awards

IFFI to give Satyajit Ray Lifetime Achievement Award to filmmakers Martin Scorsese and Istvan Szabo

• Hungarian filmmaker Istvan Szabo and Hollywood filmmaker Martin Scorsese has been chosen as the recipient of the inaugural Satyajit Ray Lifetime Achievement Award for Excellence in Cinema.
• The award will be given at the 52nd edition of the International Film Festival of India (IFFI), which will be held in Goa from 20th -28th November 2021.
• The award has been instituted to mark the the birth centenary of the maestro of Indian cinema Shri Satyajit Ray, in 2021, and will be given at the IFFI every year starting from this year.
• The Award consists of Rs 10 lakh cash prize, a certificate, Shawl, a Silver Peacock medal and a Scroll.

Appointment

Ramnath Krishnan appointed as Managing Director and Group CEO of ICRA

• Ramnath Krishnan has been appointed as the new Managing Director and Group Chief Executive Officer (CEO) of rating agency ICRA
• He replaces N Sivaraman, who resigned with immediate effect citing personal reasons on October 23, 2021.
• Gurgaon based ICRA is a unit owned by global rating agency Moody’s Corporation..

Barbados elects Sandra Mason as its first-ever president to replace British Queen as head of state

• Barbados has elected Sandra Mason as its first president, as a part of its plan to become a republic nation and remove Britain’s Queen Elizabeth II as its head of state.
• Mason, who is the current governor-general of the country, will take the charge of office with effect from 30 November 2021.
• 30 November 2021 marks the 55th anniversary of independence of Barbados from Britain and on the same day the country plans to abolish its monarchy and become a republic.
• It was on 30 November 1966 that Barbados became an independent state and Commonwealth realm which has Elizabeth II as its queen.

Books & Author

“The Origin Story of India’s States” by Venkataraghavan Subha Srinivasan

• A new book titled “The Origin Story of India’s States” narrates the fascinating political and historical circumstances of the birth of India’s states and union territories.
• The book has been written by Venkataraghavan Subha Srinivasan, a writer, actor and strategy consultant from Bengaluru.
• It has been published by Penguin Random House India.

Days

World Polio Day: 24 October

• The World Polio Day is celebrated annually on October 24,  to raise awareness for polio vaccination and eradication of polio.
• The Day was established by Rotary International to commemorate the birth of Jonas Salk, who led the first team to develop a vaccine against poliomyelitis.
• 2021 theme for World Polio Day is “One Day. One Focus: Ending Polio – delivering on our promise of a polio-free world!”

United Nations Day: 24 October 

• Every year 24 October is celebrated as United Nations Day since 1948.
• It was on this day in 1945 that the Charter of the United Nations came into force.
• With the ratification of the UN Charter by the majority of its signatories, including the five permanent members of the Security Council, the United Nations officially came into being.
• It was declared to be an international observance in 1971 by UNGA and that it should be observed as a public holiday by United Nations member states.
• The year 2021 marks the 76th anniversary of the United Nations and its founding Charter.

International Day of Diplomats : 24 October

• The International Day of Diplomats is celebrated on 24 October every year.
• The day aims to commemorate the contributions made by diplomats in shaping the world since ancient times and in making our planet a better place. It also aims to bridge the gap in perception and reality of diplomats’ lives among the general public.
• The first International Day of Diplomats was celebrated in Brasília on 24 October 2017.
• The day was proposed by Indian poet-diplomat Abhay K and saw participation from the diplomats of Bangladesh, France, Ghana, Israel, Italy, Mexico, South Africa and Turkey.

World Development Information Day: 24 October

• The United Nations’ World Development Information Day is held on October 24 every year.
• The day aims to draw attention of world public opinion to development problems and the need to strengthen international cooperation to solve them for overall growth and development..
• The World Development Information Day was established by the UN General Assembly in 1972, to coincide with the the United Nations Day