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Daily GK Current Affairs viable of 7th October 2021

Daily GK Current Affairs News viable of 7th October 2021. – Here is the Regular current affairs viable of 7th October 2021 covering the following news headlines: PM MITRA Parks, Swechha programme, Fishwaale, Kotak Mahindra Bank, NARCL, BharatPe, Euro 2024 championship.


Daily Current Affairs update are incorporated with the important news that made the current affairs headlines for competitive exams. Daily Current Affairs Update is the complete box of the important news that held all day long. One should have complete knowledge about banking terms, current affairs news, etc.

So, here is the GK update of 7th October 2021 to help you prepare the Current affairs part. After reading this section, you can successfully attempt current affairs quiz.

Here current affairs have been categorized which is as follows

  • National News
  • State News
  • Banking News
  • Business News
  • Awards News
  • Important Days
  • Obituaries News
  • Miscellaneous News

National News

  1. Alibaug white onion from Maharashtra gets GI tag
  • The famous Alibaug white onion in Raigad district of Maharashtra has got Geographical Indication (GI) tag on September 29, 2021.
  • Alibag taluka has now gained worldwide recognition for the white onion for its unique sweet taste, non-tearing factor, as well as its medicinal properties.
  1. Centre approves setting up 7 PM MITRA Parks at Rs. 4,445 crore in 5 years

  • The Centre has approved the setting up of seven new mega textile parks, or PM MITRA (पीएम मित्र) parks across the country in an effort to help furthering the growth of textile sector in the economy and position India strongly on the Global textiles map.
  • The Mega Integrated Textile Region and Apparel Parks (PM MITRA) will be based on the 5F vision of Hon’ble Prime Minister.
  • The ‘5F’ Formula consists of Farm to fibre; fibre to factory; factory to fashion; fashion to foreign.
  • These parks will be setup at Greenfield and Brownfield sites in different States by a Special Purpose Vehicle which will be owned by State Government and Government of India in a Public Private Partnership (PPP) Mode.
  • The total outlay for the project has been set at Rs 4,445 crore for five years.
  1. Ministry of Textiles approves continuation of Comprehensive Handicrafts Cluster Development Scheme with a total outlay of Rs 160 crore
  • Ministry of Textiles has approved the continuation of the Comprehensive Handicrafts Cluster Development Scheme (CHCDS) up to March 2026. The total outlay of CHCDS will be Rs 160 crore.
  • The objective of the scheme is the upliftment and development of handicrafts artisans. Under the scheme, Infrastructural support, market access, design and technology up-gradation support will be provided to handicrafts artisans.
  • The mega handicraft clusters having more than 10,000 artisans will be selected for overall development under this scheme.

State News

  1. Andhra government launched ‘Swechha’ programme
  • Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy has launched the ‘Swechha’ program to tackle the stigma attached to menstruation, prioritize female personal hygiene, and encourage a healthy dialogue of information.
  • ‘Swechha’ (meaning freedom) is intended to ensure affordable access to health and menstrual hygiene in adolescent girls and women.
  • The state government will provide good quality branded sanitary napkins to female students at government educational institutions free of cost.
  • Ten sanitary napkins will be given every month to about 10 lakh adolescent girls studying from 7th-12th grades in all government schools and intermediate colleges across the state at a financial outlay of INR 32 crores.
  • A total of 120 napkins per year is allotted to every female student, even during summer vacations, the students will be supplied with their quota before they leave school.

Important takeaways for all competitive exams:

  • Chief Minister of Andhra Pradesh: YS Jagan Mohan Reddy;
  • Governor: Biswa Bhusan Harichandan.

Banking News

  1. RBI grants license to NARCL under Sarfaesi Act
  • The Reserve Bank of India (RBI) has granted the National Asset Reconstruction Company (NARCL) the licence to register as an asset reconstruction company (ARC) under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002.
  • As per Section 3 of the SARFAESI Act, a company can carry the business of asset reconstruction only after
  • obtaining a certificate of registration from RBI and,
  • having the owned fund of not less than Rs 2 crore or such other amount not exceeding 15% of total financial assets acquired or to be acquired by the securitisation company or reconstruction company.
  • The NARCL has been incorporated under the Companies Act, and public sector banks will hold 51 percent in NARCL.
  1. Kotak Bank gets approval from the government to collect direct, indirect taxes
  • Kotak Mahindra Bank Ltd (KMBL) has received approval from the government for the collection of direct & indirect taxes, such as income tax, Goods and Services Tax (GST) etc, through its banking network.
  • With this, the bank becomes the first scheduled private sector bank to receive approval after the announcement by Finance Minister Nirmala Sitharaman allowing all banks to participate in the government-related business.
  • After technical integration, KMBL customers will be able to pay their direct and indirect taxes straight from KMBL’s mobile banking or net banking platforms as well as through KMBL’s branch banking network, resulting in immense ease and convenience for customers.

Important takeaways for all competitive exams:

  • Kotak Mahindra Bank Establishment: 2003;
  • Kotak Mahindra Bank Headquarters: Mumbai, Maharashtra;
  • Kotak Mahindra Bank MD & CEO: Uday Kotak;
  • Kotak Mahindra Bank Tagline: Let’s Make Money Simple.

Business News

  1. BharatPe launches ‘buy now, pay later’ platform, postpe
  • Fintech company BharatPe, announced its entry into the ‘Buy Now Pay Later’ (BNPL) category with the launch of ‘postpe’. The new platform provides credit to customers to buy now, but pay later from anywhere.
  • Customers using the postpe platform can download the app from Play Store and avail interest-free credit limit of up to Rs 10 lakh. The company said that postpe is not only limited to big-ticket purchases but can also be used for micro-purchases, making it the first of its kind.
  • BharatPe stated that it aims to facilitate a loan book of $300 million on postpe in the first 12 months for its lending partners. The fintech company added that customers can shop across offline as well as online and repay easily through EMIs.
  • All a customer has to do is scan the QR code through the postpe app and pay using credit. Users can also pay through a postpe card that will be accepted across millions of offline as well as e-commerce platforms. Cashbacks and rewards are also on offer.

Important takeaways for all competitive exams:

  • Chief Executive Officer of BharatPe: Ashneer Grover;
  • Headoffice of BharatPe: New Delhi;
  • BharatPe Founded: 2018.

Awards News

  1. Benjamin List and David WC MacMillan wins 2021 Nobel Prize in Chemistry
  • The Nobel Prize in Chemistry for the year 2021 has been jointly awarded to Benjamin List (Germany) and David Macmillan (USA) “for the development of asymmetric organocatalysis”.
  • Both are honored for their work in developing a new method for manufacturing molecules called “asymmetric organocatalysis.”
  • The award comes with a gold medal and prize money of 10 million Swedish kronor (over $1.14 million).
  1. Professor Eric Hanushek and Dr Rukmini Banerji wins 2021 Yidan Prize
  • US-based Stanford University’s Professor Eric A. Hanushek and Mumbai-based Dr Rukmini Banerji have been felicitated with the 2021 Yidan Prize, the world’s highest education accolade.
  • The coveted award is given by the Yidan Prize Foundation, Hong Kong.
  • The two laureates have been recognised for their ground-breaking work addressing education issue related to ‘improving quality of education’ and ‘outcomes for learners at scale’.
  • The award carries a prize money of $3.90 million (around Rs 28 crore), for each winner.
  • Dr Rukmini Banerji is the CEO Of the Mumbai-based Pratham Education Foundation.

Important Days

  1. World Cotton Day: 7th October
  • World Cotton Day (WCD) recognized by WHO is celebrated every year on 07 October to celebrate the international cotton industry and its contribution to the communities and global economy.
  • The day was inaugurated by the World Trade Organization (WTO) in Geneva on October 7, 2019.
  • WCD Day was initiated by the Cotton-4 Countries Group of Benin, Burkina Faso, Chad and Mali to mark the importance of cotton as a global commodity.

Obituaries News

  1. Arvind Trivedi, best known for his role as ‘Raavan’ in Ramayan, passes away
  • Veteran television actor Arvind Trivedi, best known for his iconic role of demon-king Ravana in Ramanand Sagar’s TV serial Ramayan, has passed away. He was 82 years old.
  • He was also a part of the political arena in Gujarat as an MP from the Sabarkatha constituency, and served the Parliament from 1991–96. He served as the acting chairman of the Central Board of Film Certification (CBFC) from 2002 to 2003.

Miscellaneous News

  1. Palghar’s famed Wada Kolam rice gets GI tag
  • A variety of rice widely grown in Wada in the Palghar district has been given a ‘Geographical Indication’ tag, which will give it a unique identity as well as wider markets.
  • Wada Kolam, also known as Zini or Jhini rice, is a traditional variety grown in the Wada tehsil of Palghar, with the grain being off white in colour.
  • Wada Kolam rice commands a price of Rs 60-70 per kg in domestic markets and has a sizeable demand overseas as well. Wada Kolam has been grown in Palghar for years. It is known for its small grain, aroma, taste and for being light for digestion. It is gluten-free. However, it is a low yielding crop.

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