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Current Affairs - 09 October 2020

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1. World Post Day is observed on 9th October every year
  • The main aim of World Post Day is to create awareness of the role of the postal sector in people’s and businesses’ everyday lives and its contribution to the social and economic development of countries.
  • 09 October marks the anniversary of the establishment of the Universal Postal Union in 1874 in the Swiss Capital, Bern.
Foot Notes:
About Sweden:
Currency: Swiss franc
Capital: Bern
President: Simonetta Sommaruga

2. Kuwait’s cabinet hands in resignation, new emir asks PM to prepare for election
  • The Kuwaiti government, headed by Prime Minister Sabah Al Khalid Al Sabah, reportedly submitted its resignation to Emir Nawaf Al Ahmed Al Jaber Al Sabah.
  • Kuwait's new emir has asked the Gulf state's cabinet to carry on its duties and prepare for parliamentary elections.
  • Sheikh Nawaf, 83, took the helm of the U.S.-allied OPEC member state following the death of his brother Emir Sheikh Sabah al-Ahmed.
Foot Notes:
About Kuwait:
Capital: Kuwait City.
Currency: Kuwaiti dinar

3. Yogi Adityanath inaugurates UP's largest oxygen production plant in Ghaziabad
  • In the trying times of Covid-19 pandemic during which the demand for oxygen, shot up to unprecedented levels, Uttar Pradesh Chief Minister Yogi Adityanath inaugurated the state’s largest oxygen production plant in Modinagar, Ghaziabad, at a virtual ceremony.
  • Medical oxygen is extremely important in the treatment of critically ill Covid-19 patients.
  • The plant was set up as part of an MoU (memorandum of understanding) signed between the Uttar Pradesh government and the company during the UP Investors’ Summit - 2018 in February 2018.The plant also can store 1,000 metric tonnes of oxygen. It will supply oxygen to 200 government and private hospitals in the state.
Foot Notes:
About UP:
Governor: Anandiben Patel
Capital: Lucknow 
Chief Minister: Yogi Adityanath
 
4. World Bank slashes FY21 GDP estimate, likely to shrink 9.6%
  • The World Bank expects India’s economy to contract 9.6% FY21, steeper than 3.2% shrinkage projected earlier.
  • South Asia as a region is set to plunge into its worst ever recession with a sharper than expected contraction of 7.7%, the World Bank said in its half-yearly South Asia Focus.
  • India’s growth is projected to rebound to 5.4% in FY22, mostly reflecting base effects, assuming Covid19 -related restrictions are completely lifted by 2022.
  • As per the bank, weak activity, domestically and abroad, is also likely to depress both Indian imports and exports. India’s economy shrank an unprecedented 23.9% in the first quarter.
Foot Notes:
About World Bank:
Headquarters: Washington, D.C., United States
President: David Malpass
Founded: July 1944
 
5. J Venkatramu appointed MD and CEO of India Post Payments Bank
  • Centre has appointed J Venkatramu as the new managing director (MD) and chief executive officer (CEO) of India Post Payments Bank for a tenure three years.
  • Venkatramu holds more than two decades of work experience across banking services namely payments, mobile banking, retail banking products and has also managed digital financial services projects.
  • Prior to the appointment, he was appointed as the chief digital officer at Equitas Small Finance Bank.
  • Venkatramu will take over the post of Suresh Sethi who had served as founder MD and CEO of the payments banks till March, much before his tenure ended.
Foot Notes:
About IPPB:
Headquarters location: New Delhi
Founded: 1 September 2018
MD & CEO: J Venkatramu

6. India test-fires Rudram 1, its first anti-radiation missile to kill enemy radars
  • India successfully test-fired Rudram 1, the tactical anti-radiation missile that the Indian Air Force can launch from its Sukhoi-30MKI fighter jets to take down enemy radars and surveillance systems.
  • The missile has a launch speech of up to 2 Mach, twice the speed of sound.
  • The Defence Research and Development Organisation developed the new generation weapon. It was tested at the interim test range Balasore, off the coast of Odisha in the Bay of Bengal, at about 10.30 am.
Foot Notes:
About DRDO:
Founded: 1958
Headquarters: New Delhi
Chairman: Dr G. Satheesh Reddy
 
7. Louise Glück wins Nobel Literature Prize 2020
  • Nobel Prize for Literature 2020 has been awarded to American poet and essayist Louise Glück. This makes her the first US winner since poet and singer Bob Dylan in 2016.
  • Glück has received a host of literary prizes over the years including the Pulitzer Prize in 1993 for her collection The Wild Iris and the National Book Award in 2014. She won the prize for "for her unmistakable poetic voice that with austere beauty makes individual existence universal."
Foot Notes:
About Nobel Prize:
Founder: Alfred Nobel
Nobel Prize for Medicine 2020: Harvey J. Alter, Michael Houghton and Charles M. Rice
Nobel Prize for Chemistry 2020: Emmanuelle Charpentier and Jennifer Doudna

8. Union Minister Ram Vilas Paswan passes away at 74
  • Union minister Ram Vilas Paswan passed away in New Delhi. He was 74.The Lok Janshakti Party founder and Minister for Consumer Affairs, Food and Public Distribution had recently undergone a heart operation at a private hospital.
  • He was elected to Lok Sabha eight times and also held the record of winning his constituency, Hajipur, with the highest margin for several years. He started his political career as a member of Samyukta Socialist Party and was elected to the Bihar Legislative Assembly in 1969.
  • Later, Paswan joined Lok Dal upon its formation in 1974 and became its general secretary. He opposed the emergency and was arrested during the period. He entered the Lok Sabha in 1977, as a Janata Party member from Hajipur constituency, was chosen again 1980, 1989, 1996 and 1998, 1999, 2004, and 2014.
9. Axis Bank and Vistara launched co-branded forex card
  • Vistara and Axis Bank launched a co-branded forex card that can load up to 16 currencies. The card has locked-in exchange rates and the card holder will accrue 3 award points on Club Vistara for every $5 or an equivalent value spent.
  • The forex card can load up to 16 currencies and has various emergency assistance services like loss of passport assistance through Trip Assist and insurance cover of up to Rs 3 lakh.
  • Vistara is the first Indian airline to offer a co-branded forex card.
Foot Notes:
About Axis Bank:
CEO: Amitabh Chaudhry 
Headquarters: Mumbai
Founded: 1993, Ahmedabad
 
10. Goa becomes first 'Har Ghar Jal' State across the nation by providing tap water connection to every rural household
  • Goa has earned itself the unique distinction of becoming first 'Har Ghar Jal' State in the country as it successfully provides 100% Functional Household Tap Connections (FHTCs) in the rural areas covering 2.30 lakh rural households. 
  • Harnessing the immense benefits of efficiently utilising the Jal Jeevan Mission (JJM) which aims to improve the quality of life and bring 'ease-of-living' to rural communities, the Chief Minister of Goa, Shri Pramod Sawant announced that all rural homes in the State now have a tap water supply. State's commitment and brisk efforts have ensured advancement and achievement of targets well before time.
Foot Notes:
About Goa:
Governor: Bhagat Singh Koshyari
Capital: Panaji 
Chief Minister: Pramod Sawant
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