Kapil Kathpal

RBI Imposes ₹2.5 Crore Penalty on L&T Finance

• The Reserve Bank of India (RBI) has recently taken regulatory action
against L&T Finance Limited by imposing a monetary penalty of ₹2.50
crore (Rupees Two crore Fifty lakh only) on the company.

Some of the key deficiencies included:

• Failure to Inform Retail Borrowers

• Lack of Notification for Changes in Penal Interest Rates

• Non-Disclosure of Changes in Loan Terms and Conditions

 Kapil Kathpal
RBL Bank Introduces GO Savings Account
• RBL Bank has announced the launch of its digital banking product,
the GO Savings Account.

• Customers can enjoy high-interest rates of up to 7.5% per annum

• The account comes with the convenience of a zero-balance requirement

• The account includes comprehensive cyber insurance cover, accident

insurance, and travel insurance. The coverage extends up to Rs. 1 crore.

• This innovative account follows a subscription-based model, with a first-

year subscription fee of Rs. 1999 + taxes. Subsequent annual renewals
are available at a fee of Rs. 599 + taxes
 Kapil Kathpal
HDFC Bank Unveils XpressWay
Digital Platform for Swift Loans
• HDFC Bank introduces XpressWay, a digital platform for swift and efficient banking
services. It encompasses diverse offerings, including loans, credit cards, and
savings accounts.

These services include:

• Xpress Personal Loan

• Xpress Business Loans
• Xpress Car Loan
• Xpress Home Loan
• Xpress Loan on Cards
• Xpress Credit Card
• Xpress Savings Accounts
• Service Journeys and More

• XpressWay is an integral component of HDFC Bank’s ‘NOW,’ an umbrella brand

encompassing the bank’s digital products and services. This initiative represents
the bank’s commitment to embracing digital solutions for its customers’ benefit.
 Kapil Kathpal
Defence Minister Rajnath Singh
Launches Project ‘Udbhav’
• Defense Minister Rajnath Singh inaugurated 'Project Udbhav,' a
initiative by the Indian Army to blend ancient wisdom with modern
military methods for tackling current security challenges.

• “Project Udbhav, initiated by the military, aims to tap into ancient

Indian treatises such as Chanakya’s Arthashastra,
Kamandaka’s Nitisara, and the Thirukkural by the Tamil poet-saint
Thiruvalluvar to glean insights on statecraft, strategy, diplomacy,
and warfare.

• This project is part of a broader government initiative to promote

“Indianisation” across various sectors, including education, health,
and science.

• The launch of ‘Project Udbhav’ coincided with the inauguration of

the first edition of the Indian Military Heritage Festival in New
Delhi.
 Kapil Kathpal
“Ghar-Ghar KCC Abhiyaan”
• The Department of Fisheries under the Ministry of Fisheries,
Animal Husbandry & Dairying (MoFAH&D) conducted a National
level meeting on ‘Ghar-Ghar Kisan Credit Card (KCC) Abhiyaan’,
which means ‘Door to Door KCC Campaign’ for fisheries in New
Delhi

• The ‘Ghar-Ghar KCC Abhiyaan’ initiative aims to ensure KCC

Access for Fish Farmers including fishermen and fish vendors to
achieve universal financial inclusion and to avail KCC facilities for
all eligible fish farmers.

• Under the KCC Scheme, 1,59,903 new KKCs were issued for fish
farmers with a credit worth of Rs 1746.16 Crore.

• KCC scheme was introduced in 1998 to avail loan facilities to the

farmers for their cultivation and other needs.
 Kapil Kathpal
Indian Government Grants Approval
for Non-Basmati Rice Exports
• The Indian government, via the DGFT, greenlights the
export of 1.34 million tonnes of Non-Basmati White
Rice to seven nations: Nepal, Cameroon, Cote D’Ivoire,
Guinea, Malaysia, Philippines, Seychelles

• The Philippines will receive the largest quota, with up to

295,000 metric tonnes of non-Basmati white rice
eligible for export.
PM Narendra Modi Launched India’s 1st Kapil Kathpal

Regional Rapid Transit System

• Prime Minister Narendra Modi inaugurated the 17 Kilometer
priority section of the Delhi- Ghaziabad-Meerut Regional Rapid
Transit System (RRTS) Corridor at Sahibabad RapidX Station in
Ghaziabad, Uttar Pradesh

• He also flagged off the ‘Namo Bharat’ RapidX train, connecting

Sahibabad to Duhai Depot (UP), which marks India’s first RRTS.

• Additionally, 2 stretches of the east-west corridor of Bengaluru

Metro were dedicated to the public.

• RRTS constitutes a new rail-based, semi-high-speed, high-

frequency commuter transit system.

• With a design speed of 180 kilometers per hour (Kmph), RRTS is

set to redefine the standards of transportation efficiency.
 Kapil Kathpal
PM Modi Launched 511 Pramod Mahajan
Grameen Kaushalya Vikas Kendras
• Prime Minister Narendra Modi virtually launched the 511 Pramod Mahajan
Grameen Kaushalya Vikas Kendras (PMGKVKs) established across 34
rural districts of Maharashtra through video conferencing.

• These PMGKVKs will conduct skill development training programs across

various sectors to provide employment opportunities to rural youth.

• Each Kendra will train about 100 youngsters in at least two vocational
courses.

• The training will be provided by empanelled industry partners and

agencies under the National Skill Development Council (NSDC).

• The newly launched skill centers will impart skills like construction,
modern farming, media and entertainment, and electronics among the
young people.

• The people will also be trained on soft skills such as basic foreign
language skills, Artificial Intelligence (AI) tools for language interpretation.
 Kapil Kathpal
Google Partners with FACE to Take
Down Illegal Loan Apps
• Google has partnered with the Fintech Association for Consumer
Empowerment (FACE) to take down illegal digital lending apps on
Play Store in India.

• FACE is an industry association and self-regulatory organization

for digital lenders.

• Under this partnership, FACE will supply Google with market

intelligence to identify and take action against non-compliant
predatory personal loan apps in India that are non-compliant with
Play Store’s policies.
 Kapil Kathpal

• Alphabet Inc. announced plans to manufacture Pixel 8

smartphones in India with sales starting in 2024.

• Google Lens introduced Visual Skin Condition Search, allowing

users to find visual matches for skin issues, after uploading
photos.

• Google Pay partnered with ePayLater to provide a credit line for

merchants

• It also collaborated with DMI Finance to introduce sachet loans

starting at Rs 15,000.

• Google Pay expanded its merchant loans with ICICI Bank and
personal loans with Axis Bank.

• Google enhanced its security measures with Google Play Protect,

offering real-time app scan recommendations for users installing
unscanned apps.
 Kapil Kathpal
DFC Offers USD 30 Million to Dalmia Polypro Industries

• The United States International Development Finance

Corporation has offered an External Commercial
Borrowing loan of USD 30 million to the Dalmia Polypro
Industries Private Ltd to fund the establishment of
greenfield recycling facility in Nashik, Maharashtra.

• Dalmia Polypro is one of the major plastic recyclers in

India
 Kapil Kathpal
Sanjay Kumar Jain appointed as CMD IRCTC
• Indian Railway Catering and Tourism Corporation
(IRCTC), Sanjay Kumar Jain, an officer of the Indian
Railway Traffic Service (IRTS) of the 1990 batch, has
been appointed as the Chairman and MD.

• The position of CMD at IRCTC had been vacant since

the retirement of Mahendra Pratap Maal in January
2021.
 Kapil Kathpal
Ashok Vaswani To Succeed Uday Kotak
As New CEO Of Kotak Mahindra Bank
• Ashok Vaswani is set to take the chair as
the Managing Director and Chief Executive
Officer of Kotak Mahindra Bank.

• The appointment has received approval from

the Reserve Bank of India.
 Kapil Kathpal
CJI Chandrachud Honored With “Award For
Global Leadership” By Harvard Law School
• Chief Justice of India (CJI) DY Chandrachud, an distinguished
alumnus of Harvard Law School, was bestowed with the
prestigious ‘Award for Global Leadership‘ by his institution.

• He pursued his Master of Laws (LLM) from 1982 to 1983 and later
embarked on his Doctor of Juridical Science (SJD) journey from
1983 to 1986.

• Under his guidance, the Supreme Court launched a ‘Handbook on

Combating Gender Stereotypes.’
 Kapil Kathpal
Indian Navy conducts Security
Exercise ‘Prasthan‘ in AP’s Kakinada
• The Security Exercise Prasthan 2023 was carried out by
Commodore Rajneesh Sharma Naval Officer-in-Charge (NOIC),
Andhra Pradesh under the aegis of Eastern Naval Command,
Indian Navy in Kakinada, Andhra Pradesh

• The exercise was conducted on the Rig ship Platinum Explorer of

ONGC (Oil and Natural Gas Corporation) and RG Fixed Oil
Platform of Vedanta Ltd.

• IN comprised of INS (Indian Naval Ship) Kora, INS Tihayu, four

Immediate Support Vessels, Marine Commandoes, Explosive
Ordinance Disposal Team and Helicopters.

• ICG Ship Kanaklata Barua also participated in the exercise.

Army Commanders’ Conference 2023 Kapil Kathpal

• Udhampur Military Station in the Indian Union Territory (UT) of

Jammu and Kashmir (J&K) bagged the ‘Best Green Military
Station‘ award. The award recognises the station’s environmental
efforts and highlights the commitment of the Indian Army to strive
for excellence.

• During the award ceremony, the Dehradun Military Station

(Uttarakhand) was acknowledge for securing the title of the
“Second Best.”

• The Bikaner Military Station (Rajasthan) was honoured with the

“Best Transformative Station” trophy.

• The 671 Army Aviation Squadron Reconnaissance and

Observation (R&O) was honoured with the COAS Flight Safety
Trophy’ for the year 2022-23.
 Kapil Kathpal
Asian Para Games 2023 Opening Ceremony
• The Asian Para Games 2023's grand opening ceremony set with India
sending its largest-ever contingent of 313 athletes in Hangzhou, China.

• The Asian Para Games, organized by the Asian Paralympic

Committee and recognized by the International Paralympic Committee,
commences on October 22, 2023.

• This marks the fourth edition of the Games, featuring 566 medal events
across 22 sports and 24 disciplines.

Flag Bearers:

• Renowned Para Shuttler Parul Parmar will bear the Indian flag during the
opening ceremony

• Para-club Thrower Amit Saroha joins Parul Parmar as the co-flag bearer
 Kapil Kathpal
Police Commemoration Day 2023- October 21
• Police Commemoration Day (Police Martyrs Day) is annually
observed across India on 21 October to pay homage to, and
appreciate the incredible dedication of all the Police personnel
who were killed on duty.

• The day commemorates the sacrifices of 10 brave Central

Reserve Police Force (CRPF) policemen, who sacrificed their lives
while defending our borders with China in 1959 at Hot Springs in
Aksai Chin, Ladakh.
 Kapil Kathpal
Global Iodine Deficiency Disorders
Prevention Day 2023 – October 21
• Global Iodine Deficiency Disorders(IDD) Prevention Day or World
Iodine Deficiency Day is annually observed across the globe on
21st October to create awareness about the importance of Iodine,
an essential micro-nutrient.

• The Recommended Daily Intake (RDI) of iodine is 150 micrograms

(mcg) per day for most adults.

• The National Iodine Deficiency Disorders Control Programme

(NIDDCP) is a government initiative launched in 1992 to address
the widespread issue of iodine deficiency in India.
 Kapil Kathpal
International Stuttering Awareness Day 2023 - 22 October
• International Stuttering Awareness Day is a
global event that takes place annually
on October 22nd, dedicated to raising
awareness about stuttering, a speech disorder
characterized by disruptions in fluency.

• Theme: “One Size Does NOT Fit All”