India has extended significant financial aid to the Maldives by signing a $750 million currency swap agreement to ease the country's foreign exchange crisis. This includes a $400 million swap and an additional Rs. 3,000 crore ($357 million) under the SAARC Currency Swap Framework, available until 2027.
The agreement was sealed during a meeting between Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu, who is on a five-day visit to India. Both leaders discussed key economic and security collaborations, adopting a "vision statement" that reinforces their partnership.
Japanese Parliament Confirms Ishiba as New PM
Members of the ruling Liberal Democratic Party (LDP) used their majority to confirm Ishiba's appointment. The 67-year-old replaces outgoing leader Fumio Kishida.
Following the vote, Ishiba revealed his cabinet, comprising 19 ministers. As well as getting to grips with running the government, the new premier must quickly prepare for snap elections on October 27, which he called on Monday.
Ishiba's appointment comes after he secured on Friday a narrow victory in a contest to lead the LDP, which has been in power for much of the past 80 years.
India-Maldives Ties Strengthened: RuPay Card Launch and Airport Upgrade
The recent inauguration of a new runway at Hanimadhoo International Airport and the launch of the RuPay card in the Maldives signify a pivotal moment in the evolving relationship between India and the Maldives. Conducted through a virtual ceremony, Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu marked these developments as essential steps to enhance economic ties and boost tourism cooperation.
The discussions preceding the launch focused on charting a new path for future collaboration, reinforcing the longstanding bonds built on trade and cultural exchanges.
The introduction of the RuPay card aims to facilitate cashless transactions for Indian tourists, enhancing convenience and reducing costs in the Maldives' tourism sector. This initiative is expected to strengthen economic cooperation between the two nations.
The new runway at Hanimadhoo International Airport is part of a broader airport redevelopment project funded by an Indian Line of Credit of USD 132 million. This project includes modern infrastructure upgrades, such as a new Air Traffic Control (ATC) tower, a hangar, cargo facilities, and a passenger terminal building.
RBI Deputy Governor M. Rajeshwar Rao's Tenure Extended for One Year
The government has approved a one-year extension for M. Rajeshwar Rao as Deputy Governor of the Reserve Bank of India (RBI), effective October 9, 2024. This decision was made by the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, following a notification dated October 4. Rao's tenure was initially set for three years starting from October 2020, and this marks his second consecutive one-year extension.
Rao is an accomplished central banker, holding an economics degree and an MBA from the University of Cochin. Since joining the RBI in 1984, he has gained extensive experience across various departments within the bank. Before becoming Deputy Governor, he served as an executive director since November 2016.
BoB to Sell Oman Operations to Bank Dhofar
State-owned Bank of Baroda (BoB) has announced its decision to sell its Oman operations to Bank Dhofar as part of a broader strategy to rationalise its foreign business footprint. This acquisition will take place on a going concern basis, pending approval from regulatory authorities. The total business of BoB's Oman operations is valued at 113.35 million Omani Rials, with a net worth of 25.54 million Omani Rials.
Established in 1990, Bank Dhofar is one of the leading commercial banks in Oman. It is located in Muscat, Oman.
It is a publicly traded company on the Muscat Stock Exchange, with a diverse shareholder base, which offers a wide range of banking services, including personal banking, corporate banking, investment services, treasury operations, and Islamic banking products.
IFC Partners with Axis Bank for India's First Blue Loan of $500 Million
In a landmark move, the International Finance Corporation (IFC) has partnered with Axis Bank to provide a $500 million loan aimed at scaling up blue finance and green projects in India. This is IFC's first blue investment in the country and the largest climate finance initiative by IFC in India to date. Blue loans focus on funding water and wastewater management, reducing ocean plastic pollution, restoring marine ecosystems, and promoting offshore renewable energy, among others.
The partnership marks a significant step toward fostering sustainable development in India. With rapid urbanisation, India has immense potential for water efficiency, wastewater treatment, and green infrastructure, projected to grow into a $3 billion market by 2029. The blue loan aims to attract private sector investment to boost India's climate resilience, particularly in sectors like green buildings, which could see a $1.4 trillion investment opportunity by 2030.
Google for India 2024: AI-Driven Solutions for a Digital Future
Google for India 2024, marking the tech giant's 10th event in the country, underscored its commitment to driving India's digital transformation through AI-powered innovations. Celebrating 20 years of Google's operations in India, the event focused on addressing India's unique challenges by introducing AI solutions across healthcare, payments, language support, and sustainability.
Google expanded its conversational AI platform, Gemini Live, to Hindi and will soon include eight other Indian languages like Bengali, Tamil, and Marathi. With over 70% of Indian internet users favoring local languages, this move aims to bring millions of non-English speakers into the digital fold. Notably, 40% of Indian users interact with Gemini via voice input.
Google announced AI-driven cancer and tuberculosis screening tools, currently being trialed in Indian hospitals. These screenings will be offered free of charge for the next decade, demonstrating Google's dedication to improving healthcare access and outcomes nationwide.
Dipa Karmakar Announces Retirement: The End of a Historic Gymnastics Journey
Dipa Karmakar, India's trailblazing gymnast, who narrowly missed out on a podium finish at the Rio 2016 Olympics, has announced her retirement from the sport. Famous for performing the risky "Produnova" vault, often called the "vault of death," Karmakar leaves behind a legacy of courage and determination that redefined Indian gymnastics.
Karmakar, 30, became a national icon after finishing 4th at the Rio Olympics in 2016, attempting the highly dangerous Produnova vault. Though she did not win a medal, her performance captured the attention of gymnastics powerhouses globally. Her career spanned major successes, including a bronze at the 2014 Commonwealth Games, but injuries and surgeries on both knees took a toll, eventually leading to her decision to retire after failing to qualify for the 2024 Paris Olympics.
Nitish Kumar Unveils Logo, Mascot for Upcoming Women's Asian Champions Trophy
Bihar Chief Minister Nitish Kumar unveiled the logo and mascot for the Women's Asian Champions Trophy 2024. Scheduled to take place in Rajgir from November 11 to 20, the tournament will feature the mascot named 'Gudiya,' inspired by Bihar's state bird, the sparrow. The unveiling marks a significant step toward creating a vibrant atmosphere for the upcoming championship.
Mascot Details
The mascot, named 'Gudiya,' is inspired by Bihar's state bird, the Sparrow.
Gudiya holds a hockey stick, symbolising the sport, while the goalkeeper's glove and defensive posture represent alertness and strategy.
A nearby hockey ball signifies teamwork and sportsmanship.
The Women's Asian Champions Trophy is a biennial women's international field hockey competition contested by the best six women's national teams of the member associations of the Asian Hockey Federation.
Participating Countries 2024: Six countries, including India, China, Thailand, Malaysia, South Korea and Japan, are participating in the championship.
Advani Triumphs at Singapore Open Billiards
In a remarkable display of skill and determination, ace Indian cueist Pankaj Advani clinched the prestigious Songhe Singapore Open title by defeating local favorite Jaden Ong 5-1 in the final held in Singapore.
Advani won the final with a decisive score of 5-1, demonstrating his dominance throughout the match.
Prior to the final, Advani faced former IBSF world snooker champion Dechawat Poomjaeng from Thailand, winning a nail-biting quarterfinal match 4-3. Advani took an early lead by winning the first two frames, despite starting with a deficit, showcasing his ability to clear the colors under pressure. Local player Jaden Ong fought back by winning the third frame, making the match competitive and maintaining the suspense.
Advani capped off the match with a solid performance in the last frame, scoring 74-6 to secure the title.
Singapore Open Billiards is a prominent billiards and snooker tournament held annually in Singapore.
This event attracts top cueists from around the world, showcasing their skills in various formats of the game, including billiards and snooker.
Senior diplomat Ajit Vinayak Gupte was appointed India's next ambassador to Germany, the Ministry of External Affairs said.
He is currently India's envoy in Egypt.
He is expected to take up the assignment shortly, the MEA said in a statement.
The appointment comes ahead of German Chancellor Olaf Scholz's scheduled visit to India later this month.
Nadda Elected as Chairperson of 77th Session of WHO Regional Committee
The World Health Organisation kicked off its 77th session of the Regional Committee for Southeast Asia in New Delhi from October 7 to 9.
India's Minister of Health, J. P. Nadda, has been elected as the Chairperson of the 77th Session.
RC77 Seventy-seventh Regional Committee Session of WHO South-East Asia is the annual governing body meeting of WHO in the Region. The member nations include Bangladesh, Bhutan, the Democratic People's Republic of Korea, India, Indonesia, the Maldives, Myanmar, Nepal, Sri Lanka, Thailand, and Timor-Leste.
Ministers of Health and delegates from the region's member states have flown to Delhi to deliberate upon key priorities and actions towards accessible public health.
Malabar exercise kicked off in Visakhapatnam in Andhra Pradesh. It will be hosted by India. This year's (2024) exercise will see the participation of Australia, Japan, and the United States of America beginning with the Harbour Phase in Visakhapatnam, followed by the sea phase. The exercise is being conducted from October 8 to 18, 2024.
Malabar 2024 is designed to enhance cooperation and operational capabilities among participating navies.
The key areas of focus include: Special operations, Surface warfare, Air warfare and Anti-submarine warfare.
These activities will be carried out through a Subject Matter Expert Exchange (SMEE).
Malabar Exercise started in 1992 as a bilateral naval exercise between India and the US navy. It was expanded into a trilateral format with the inclusion of Japan in 2015.
In 2020, the Australian Navy joined the Malabar Exercise, making it a quadrilateral naval exercise.
Every year on October 8, India recognises Indian Air Force Day to honour the servicemen and pilots who have sacrificed their lives for the nation and to commemorate the establishment of the Indian Air Force (IAF). This year (2024) marks the 92nd celebration, which took place at Marina Beach in Chennai, featuring an airshow.
The Indian Air Force was established on October 8, 1932, as an auxiliary force under British rule. Initially, it consisted of a limited number of aircraft and personnel. The first official flight took place on April 1, 1933, marking the beginning of its operational journey. Over the decades, the IAF has transformed into one of the world's most formidable air forces, playing crucial roles in military operations and humanitarian missions.
The theme for Indian Air Force Day 2024 is "Bhartiya Vayu Sena: Saksham, Sashakt, Atmanirbhar" (Potent, Powerful, and Self-Reliant). This theme reflects the IAF's commitment to self-reliance and modernisation, aligning with India's vision for a robust defense capability.
In 2024, the Nobel Assembly at the Karolinska Institute in Stockholm announced that Victor Ambros and Gary Ruvkun were awarded the prestigious Nobel Prize in Medicine. Their groundbreaking work, recognised for its profound implications in the field of molecular biology, centered on the discovery of microRNA (miRNA) and its crucial role in post-transcriptional gene regulation.
Victor Ambros and Gary Ruvkun were interested in how different cell types develop.
They discovered microRNA, a new class of tiny RNA molecules that play a crucial role in gene regulation.
Their groundbreaking discovery revealed a completely new principle of gene regulation that turned out to be essential for multicellular organisms, including humans.
It is now known that the human genome codes for over one thousand microRNAs.
Their surprising discovery revealed an entirely new dimension to gene regulation.
MicroRNAs are proving to be fundamentally important for how organisms develop and function.
Assam Government Launches 'Nijut Moina' Scheme for Girl Child to Eradicate Dropouts and Child Marriage by 2026
To eradicate the dropped out of girl students due to financial constraints, job applications, or marriage the Assam govt. launched a new scheme 'Nijut Moina' by Chief Minister Dr Himant Biswa Sarma.
Speaking during the auspicious occasion of Navratri, Sarma highlighted the launch of the monthly financial assistance scheme, Nijut Moina, which is designed to support girls in their educational pursuits that will help to eradicate child marriage by 2026 through out the state too.
Sarma announced that the government would provide monthly stipends to girl students from Class 11 to post-graduation. "Students in Classes 11 and 12 will receive a monthly stipend of Rs. 1,000, degree students will receive Rs. 1,250, and post-graduate students will receive Rs. 2,500," he announced.
The stipends will be deposited into students' bank accounts on the 11th of every month at 11 am, except during summer and winter breaks. The first instalment was distributed through bank drafts from the concerned college principals.
UGC to Award Ten 'PhD Excellence Citations' for Outstanding Doctoral Research
The University Grants Commission (UGC) is set to award ten 'PhD Excellence Citations' every year, in an effort to recognise 'high quality PhD work among young research scholars'.
The citations will be given from next year onwards, and they are set to recognise 'outstanding doctoral research', according to UGC Chairman M. Jagadesh Kumar.
They will be awarded for theses across five disciplines – Sciences including Agricultural Sciences and Medical Sciences; Engineering and Technology; Social Sciences including Education and Humanities; Indian Languages; Commerce and Management.
Research scholars who have obtained PhD degrees through a convocation from January 1 to December 31 in a year will be eligible for the citation in the following year. Those who have obtained their PhDs from state, central, private, and deemed to be universities are eligible for the citation.
IIT Madras Pravartak to Train Engineering Students in Manufacturing, Production
IIT Madras Pravartak Technologies Foundation has partnered with SWAYAM Plus to launch a new initiative to train engineering students with mechanical, manufacturing, and production backgrounds with industry-ready technical skills.
The last date to apply is October 10. The training programme will be from October 14 to 26. Those interested can register through the following link – iitmpravartak.org.in/digital_mfg_practice.
This programme will provide hands-on training with a fee of Rs. 6,000 + GST. Accommodation will be offered at the IIT Madras campus at a cost of Rs 650 per day per student, which includes food and stay. Students can make accommodation requests can be made on/before October 10.
This course offers a practical approach to bridge the gap between theoretical engineering concepts and real-world manufacturing processes. Skills such as simple quantification, back-of-the-envelope calculations, quick engineering drawings, use of the right tools, classification/taxonomy fundamentals and systems approach to planning and execution will be introduced and strengthened.
Yogi Adityanath Marks Mahakumbh-2025 with Logo Reveal
Uttar Pradesh Chief Minister Yogi Adityanath unveiled the new multi-coloured logo for Mahakumbh 2025 at an event. Kumbh Mela, recognised by the UNESCO as an 'Intangible Cultural Heritage of Humanity,' is regarded as the world's largest peaceful gathering of pilgrims.
Design Elements are: (i) features a temple, a seer, an urn, the Akshayvat tree, and Lord Hanuman, (ii) embodies the confluence of nature and humanity in the Sanatan civilisation.
The Maha Kumbh 2025 is a significant Hindu event that attracts millions of devotees worldwide.
Kumbh Mela 2025 is scheduled to take place from January 14 to February 26, 2025, at Prayagraj, Uttar Pradesh, where devotees across the world will celebrate faith, tradition, and cultural heritage.
This grand festival is celebrated every twelve years and is marked by a series of ritual baths in the sacred rivers, particularly at the confluence of the Ganges, Yamuna, and the mythical Saraswati.
Prakash Man Singh Raut is Nepal's New Chief Justice
Nepal's President Ramchandra Paudel appointed Prakash Man Singh Raut as the new Chief Justice of the country. Paudel administered the oath of office and secrecy to Chief Justice Raut at a special ceremony organised at Sheetal Niwas, the President's Office.
The swearing-in ceremony was attended by high-ranking officials, including Vice President Ramsahay Prasad Yadav, Prime Minister KP Sharma Oli, Speaker Devraj Ghimire and Chairman of the National Assembly Narayan Prasad Dahal.
Raut received a unanimous endorsement from the parliamentary hearing committee during a meeting on October 2.
His appointment aligns with Article 129, Clause 2 of the Constitution of Nepal.