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 Smartkeeda presents
Full-Length Current Affairs MockDrill Series

October 2024
Daily CA PDF 30
(PDF in English)

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 INDEX
National & States Affairs ………………………………………………………………………………………... 5
International Affairs ……………………………………………………………………………………………... 5
Banking, Finance, Insurance & Economic Affairs ……………………………………………………... 6
Defence Affairs …..………….……………………………………………………………………………………... 6
Science & Technology …………………………………………………………………………………………... 7
Appointments & Resignations ……………………………………………………………………..……….… 8
Schemes & Initiatives …….……………………………………………………………………………………... 9
Amount & Agreements ……………………………..………………………………………………………….. 10
Ordinance, Bills & Acts ………………………………………………………………………………………... 10
MoUs, Collaborations & Partnerships …….……………………………………………………………... 11

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 National & States Affairs
1. India Meteorological Department (IMD) is planning to revive District Agro-Meteorology Units (DAMUs) under the Gramin
Krishi Mausam Sewa (GKMS) scheme. The IMD established 199 DAMUs in 2018 in collaboration with the Indian Council of
Agricultural Research (ICAR). The aim was to use weather data to prepare and disseminate sub-district level agricultural
advisories. In March 2024, DAMUs were shut down following an order issued by the IMD. The DAMUs were located within
Krishi Vigyan Kendras (KVKs). Scientists and researchers trained in meteorology and agriculture were recruited as DAMU
staff. {Read more}
Smart Points:
• IMD will revive District Agro-Meteorology Units (DAMUs) under Gramin Krishi Mausam Sewa (GKMS) scheme
• IMD + ICAR = established 199 DAMUs in 2018 | DAMUs were shut down in – March 2024
- Aim: To use weather data to prepare & disseminate sub-district level agricultural advisories
• DAMUs – located within KVKs | DAMU staff – Scientists & researchers trained in meteorology & agriculture
• HQs of IMD – New Delhi | Director General – Dr. Mrutyunjay Mohapatra | Founded in – 1875

International Affairs
2. The World Health Organisation (WHO) has approved Bavarian Nordic’s “MVA-BN” as the first
vaccine against ‘mpox’, adding it to its prequalification list for expanded access in communities with
urgent need. The move aims to reduce transmission and help contain ongoing outbreaks. MVA-BN
is currently approved for active immunization against smallpox, mpox, and related orthopoxvirus
infections in adults. The global mpox outbreak, declared a public health emergency in 2022, has
seen over 1,03,000 reported cases across 120 countries, with significant activity in the African region. Mpox, first identified
in humans in 1970 in the Democratic Republic of Congo, was mistakenly linked to monkeys because it was initially found in
lab monkeys. However, the actual animal host remains unknown, with rats being a likely source. The renewed focus on
Mpox is due to a new strain, ‘Clade I Mpox’. {Read more}
Smart Points:
• WHO – approved Bavarian Nordic’s “MVA-BN” as 1st vaccine against ‘mpox’
• Aim: To reduce transmission & help contain ongoing outbreaks
• MVA-BN – approved for active immunization against smallpox, mpox & related orthopoxvirus infections in adults
• Mpox outbreak – declared public health emergency in 2022 | Reported cases – 1,03,000+ in 120 countries
- Significantly active in African region
• Mpox – first identified in humans in 1970 in Democratic Republic of Congo
• HQs of WHO – Geneva, Switzerland | DG – Tedros Adhanom | Member Countries – 194 | Founded in – 1948

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 Banking, Finance, Insurance & Economic Affairs
3. The Reserve Bank of India (RBI) has revised its June 2019 criteria for Central Counterparties. A Central Counterparty (CCP)
is a system provider that uses novation to act as an intermediary between participants in transactions accepted for
settlement. It acts as the buyer to every seller and the seller to every buyer, facilitating the settlement of their transactions.
As per the revised criteria, (i) any entity looking for recognition or authorisation as a CCP should have a minimum net worth
of at least Rs 300 crore at the time of application. (ii) Every authorized CCP would be required to provide a certificate from
an official auditor showing its net worth at the end of the financial year, which must be submitted within 6 months after the
financial year ends. (iii) The shares of an authorized CCP must be owned by those who use its services. (iv) Foreign CCPs
should seek approval from the RBI to operate as recognized CCPs in order to clear and settle transactions in India. (v) Every
authorized CCP should establish a regulatory compliance committee chaired by an independent director. {Read more}
Smart Points:
• RBI revised June 2019 criteria for Central Counterparties
• Central Counterparty (CCP) – a system provider that uses novation to act as an intermediary between participants in
transactions accepted for settlement
• As per revised criteria:
- Entity looking for recognition as CCP should have min. net worth of Rs 300 Cr at time of application
- Every authorized CCP – required to provide a certificate from an official auditor showing net worth at end of FY &
must be submitted within 6 months after end of FY
- Shares of an authorized CCP must be owned by those who use its services
- Foreign CCPs should seek approval from RBI to operate as recognized CCPs to clear & settle transactions in India
- Every authorized CCP should establish a regulatory compliance committee chaired by an independent director
• HQs of RBI – Mumbai, Maharashtra | Governor – Shaktikanta Das (25th) | Established on – 1st April, 1935
Total Deputy Governors (4) – Mahesh Kumar Jain | T. Rabi Sankar | Michael D. Patra | M. Rajeshwar Rao

Defence Affairs
4. The delivery of ‘Missile Cum Ammunition Barge, LSAM 13 (Yard 81)’, the 5th Barge of 8 x
Missile Cum Ammunition Barge project, built by MSME Shipyard, M/s SECON Engineering
Projects Pvt Ltd, Visakhapatnam, for Indian Navy, was undertaken at Naval Dockyards, Mumbai,
for INS Tunir. The Induction Ceremony was presided over by Cmde C Rami Reddy, Commanding
Officer, INS Tunir. These Barges are indigenously designed and built under relevant Naval Rules
and Regulation of Indian Register of Shipping. {Read more}
Smart Points:
• ‘Missile Cum Ammunition Barge, LSAM 13 (Yard 81)’ – delivery undertaken at Naval Dockyards, Mumbai, for INS Tunir
- It is 5th Barge of 8 x Missile Cum Ammunition Barge project
• Built by – MSME Shipyard, M/s SECON Engineering Projects Pvt Ltd, Visakhapatnam
• Induction Ceremony presided over by – Cmde C Rami Reddy, Commanding Officer, INS Tunir
• HQs of Indian Navy – Delhi | Chief – Admiral Dinesh K. Tripathi | Vice Chief – Vice Admiral Krishna Swaminathan

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 Science & Technology
5. Karnataka has launched “Shiksha Co-pilot”, an Artificial Intelligence-powered digital assistant for teacher training, a
collaboration between Sikshana Foundation and Microsoft Research India. The project aims to improve learning outcomes
and empower teachers to create comprehensive, personalised teaching resources and learning experiences grounded in
local curriculum, language and context. Shiksha Co-pilot is centred around the teachers’ needs by focusing on empowering
teachers to generate high-quality personalized content while also reducing the time to do this. At the initial stage, 1,000
teachers across the State will be trained. {Read more}
Smart Points:
• Karnataka – launched “Shiksha Co-pilot”, an AI-powered digital assistant for teacher training
• It is a collaboration between – Sikshana Foundation & Microsoft Research India
• Aim: To improve learning outcomes & empower teachers to create personalised teaching resources
• Initially, 1,000 teachers across the State will be trained
• Karnataka: Capital – Bangalore | CM – Siddaramaiah | Governor – Thaawarchand Gehlot

6. Microsoft-backed firm OpenAI has released a new AI model called “o1” that is capable of
solving complex problems faster than a human can, owing to its reasoning capabilities that are
better than other AI models. It has also released a smaller, cheaper version of the o1 called ‘o1-
mini’. ‘o1’ is a part of ‘Project Strawberry’. The o1 model scored 83% on the qualifying exam for
the International Mathematics Olympiad. This is a vast improvement from the 13% scored by
its predecessor, GPT-4o. ‘Project Strawberry’ is a new AI model being developed by OpenAI that
aims to improve the reasoning capabilities of AI models. The project’s goal is to create Artificial
General Intelligence (AGI) {Read more}
Smart Points:
• OpenAI – released new AI model, “o1,” capable of solving complex problems faster than a human
• OpenAI – also released smaller, cheaper version of o1, ‘o1-mini’ | ‘o1’ – part of ‘Project Strawberry’
• o1 model – scored 83% on qualifying exam for International Mathematics Olympiad
• ‘Project Strawberry’ – new AI model by OpenAI to improve reasoning capabilities of AI models
• HQs of OpenAI – California, US | CEO – Sam Altman | President – Greg Brockman

7. Researchers at the Indian Institute of Science (IISc) have developed a brain-inspired analog
computing platform capable of storing and processing data in an astonishing 16,500 conductance
states within a molecular film. This breakthrough represents a step forward over traditional
digital computers in which data storage and processing are limited to just two states. The team
was able to recreate NASA’s iconic “Pillars of Creation” image from the James Webb Space
Telescope data by using just a tabletop computer. It was originally created by a supercomputer. The molecular system at
the heart of the platform was designed by Sreebrata Goswami, Visiting Professor at CeNSE. {Read more}
Smart Points:
• IISc – developed a brain-inspired analog computing platform capable of storing & processing data in an astonishing
16,500 conductance states within a molecular film
• Team recreated NASA’s “Pillars of Creation” image from James Webb Space Telescope data

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 - Originally created by a supercomputer
• Designed by – Sreebrata Goswami, Visiting Professor at CeNSE
• Director of IISc Bengaluru – Prof. Govindan Rangarajan

Appointments & Resignations

8. The Financial Services Institutions Bureau (FSIB) has recommended Ashok Chandra for the position of
Managing Director (MD) & Chief Executive Officer (CEO) of Punjab National Bank (PNB). Chandra is currently
Executive Director (ED) at Canara Bank since November 21, 2022. The current MD & CEO of PNB, Atul Kumar
Goel, is set to complete his tenure on December 31, 2024. The tenure for the post of PNB MD & CEO is 3
years, which may be extended based on performance. It is subject to the normal age of superannuation of 60 years and the
provisions of the ‘Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970 & 1980’. {Read more}
Smart Points:
• Ashok Chandra (ED at Canara Bank) – recommended for post of MD & CEO of PNB for 3 years
• HQs of PNB – New Delhi | MD & CEO – Atul Kumar Goel | Tagline – “The Name You Can Bank Upon”

9. Indra Sena Reddy Nallu has recently taken oath as the Governor of Mizoram. Nallu who is the
governor of Tripura will be the holding additional charge of Mizoram during the absence of the
incumbent Mizoram governor Hari Babu Kambhampati, who is on leave due to health issues. Gauhati
High Court judge Justice Nelson Sailo administered the oath of office to Mr Nallu. Kambhampati was
appointed as the governor of Mizoram in 2021. {Read more}
Smart Points:
• Indra Sena Reddy Nallu (Governor of Tripura) – took oath as Governor of Mizoram (additional charge)
- Replacing - Hari Babu Kambhampati
• Mizoram: Capital – Aizawl | CM – Lalduhoma | Governor – Indra Sena Reddy Nallu (additional charge)

10. Ashok Raj Sigdel has been appointed as the Chief of Army Staff of Nepal Army (CoAS) by Nepal’s President
Ram Chandra Paudel. As per the constitution, the President is the supreme commander of the Nepal Army.
During the ceremony, the president also administered the oath of office and secrecy to the new Chief of
Army Staff. Notably, Sigdel will serve as Chief of Army Staff for 3 years. Mr Sigdel succeeds outgoing CoAS
Prabhu Ram Sharma. {Read more}
Smart Points:
• Ashok Raj Sigdel – appointed as Chief of Army Staff of Nepal Army (CoAS) for 3 years (succeeding - Prabhu Ram Sharma)
• Nepal – Kathmandu – Nepalese Rupee | President – Ram Chandra Poudel | PM – K. P. Sharma Oli

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 Schemes & Initiatives
11. Ministry of New & Renewable Energy (MNRE) has released the draft guidelines related to central financial assistance
and payment security for Renewable Energy Services Companies (RESCO) and utility-led aggregation models under the ‘PM
Surya Ghar: Muft Bijli Yojana’. The previously issued scheme guidelines in June 2024 did not cover RESCO or the utility-led
or State (government)-led aggregation models (ULA). Under RESCO, a third-party RE company can procure, install and
maintain the rooftop solar system for at least 5 years with consumers paying for the electricity generated on a tariff basis to
the RESCO operator. Under the utility-led asset (ULA) model, a state Discom owns the rooftop solar systems for at least 5
years, after which the ownership will be transferred to the household. Besides, under the payment security mechanism, the
MNRE proposed a corpus of ₹100 crore to ensure payment security. The scheme has an outlay of Rs 75,021 crore and is to
be implemented till FY27. {Read more}
Smart Points:
• MNRE released draft guidelines related to central financial assistance & payment security for RESCO & ULA models
under ‘PM Surya Ghar: Muft Bijli Yojana’
• Under RESCO, a third-party RE company can procure, install & maintain rooftop solar system for at least 5 years
- with consumers paying for electricity generated on a tariff basis to RESCO operator
• Under utility-led asset (ULA) model, a state Discom owns rooftop solar systems for at least 5 years
- after which ownership will be transferred to household
• Under payment security mechanism, MNRE proposed a corpus of ₹100 Cr to ensure payment security
• PM Surya Ghar: Muft Bijli Yojana – to be implemented till FY27 | Outlay – Rs 75,021 Cr
• Minister of New & Renewable Energy: Pralhad Joshi | Constituency – Dharwad-Hubballi, Karnataka
MoS in Ministry of New & Renewable Energy: Shripad Yesso Naik

12. The Central Government has relaxed the automatic exclusion criteria under the ‘Pradhan Mantri Awas Yojana-Gramin
(PMAY-G)’. As per this relaxation, families earning up to Rs 15,000 per month and owning two-wheelers, motorised fishing
boats, refrigerators, landline can now purchase a house under this scheme. Previously, families meeting these parameters
were ineligible. Those who still continue to remain ineligible to avail the scheme are people owning motorised 3/4 wheelers,
mechanised 3/4-wheeler agricultural equipment, and Kisan Credit Card with a credit limit of Rs 50,000 or above, land
ownership ceiling of 2.5 acres or more of irrigated land, besides, household with any member as a government employee,
household with non-agricultural enterprises registered with Government, any member of family paying income/
professional tax. Moreover, the Cabinet also approved making the requirement of Aadhaar-based payment system (ABPS)
for beneficiaries. The Cabinet also decided to not increase the amount per unit from Rs 1.2 lakh in plain areas and Rs 1.3
lakh in hilly areas. In the Union Budget 2024-25, Finance Minister Nirmala Sitharaman announced the government's plans
to build an additional 2 crore rural homes under the housing scheme over the next 5 years. {Read more}
Smart Points:
• Central Government relaxed automatic exclusion criteria under ‘Pradhan Mantri Awas Yojana-Gramin (PMAY-G)’
• Now, families earning up to Rs 15,000 per month & owning 2-wheelers, motorised fishing boats, refrigerators, landline
can purchase a house
• Families having below facilities are still ineligible:
- Motorised 3/4 wheelers, mechanised 3/4-wheeler agricultural equipment
- Kisan Credit Card with a credit limit of Rs 50,000 or above

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 - Land ownership of 2.5 acres or more of irrigated land | Any member of family paying income/ professional tax
- Any member as a government employee | Household with non-agricultural enterprises registered with govt
• Cabinet also approved making requirement of Aadhaar-based payment system (ABPS) for beneficiaries
• As per Union Budget 2024-25, additional 2 crore rural homes will be constructed under housing scheme in next 5 years

Amount & Agreements

13. The World Bank along with the Asian Development Bank (ADB) in principle has committed to fund $1600 million (Rs
13,600 crore) for Amaravati capital city phase-I development and will start releasing the amount from January 2025. Of the
total cost of Rs 15,000 crore for the phase-I development, the Central government will be funding the remaining Rs 1,400
crore. While, the International Bank for Reconstruction and Development (IBRD), part of the World Bank, and ADB will be
funding $800 million (Rs 6,800 crore) each for the project. The total amount from the World Bank should be drawn within 5
years. {Read more}
Smart Points:
• World Bank + ADB = committed to fund $1600 million for Amaravati capital city phase-I development
• Releasing of the amount will start from – January 2025
• Total cost of project – Rs 15,000 Cr | Central govt – Rs 1,400 Cr | IBRD – Rs 6,800 Cr | ADB – Rs 6,800 Cr
• Total amount from World Bank should be drawn within – 5 years
• HQs of World Bank – Washington D.C., US | President – Ajay Banga | MD/CFO – Anshula Kant | Members – 189
• HQs of ADB – Mandaluyong, Philippines | President – Masatsugu Asakawa | Members – 68

Ordinance, Bills & Acts

14. Ministry of Corporate Affairs (MCA) has notified the “Competition (Amendment) Act, 2023” to revamp India’s merger
and acquisition (M&A) regulatory regime. It will reshape the future of corporate mergers both domestically and
internationally. These revisions mark several positive changes in India’s regulatory approach, introducing ease of doing
business (EoDB), the need for cross-border compliance, stringent oversight, clear deal value thresholds, and speedier
decisions. Under the new rules, M&A valued above Rs 2,000 crore ($240 million) must be notified to the Competition
Commission of India (CCI), provided the target has ‘substantial business operations’ in India. The overall review period for
Merger & Acquisitions (M&A) transactions has been reduced from 210 to 150 calendar days. The Form I filing fee has been
increased from Rs 20 lakh to Rs 30 lakh, and for Form II, from Rs 65 lakh to Rs 90 lakh. {Read more}
Smart Points:
• “Competition (Amendment) Act, 2023” – notified by MCA to revamp India’s merger & acquisition regulatory regime
• M&A valued >Rs 2,000 crore must be notified to CCI
• Overall review period for M&A transactions – reduced to 150 calendar days (from 210)
• Filing fee increased for: Form I – Rs 30 lakh (from Rs 20 lakh) | Form II – Rs 90 lakh (from Rs 65 lakh)
• Minister of Corporate Affairs: Nirmala Sitharaman | Constituency – Karnataka
MoS in Ministry of Corporate Affairs: Harsh Malhotra

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 MoUs, Collaborations & Partnerships
15. Vaccine maker Indian Immunologicals Ltd (IIL) and Indian Council of Medical Research (ICMR) have signed a
memorandum of agreement (MoA) for clinical development of India’s first Zika virus vaccine. ICMR will be funding phase I
clinical trial costs. The trial will be conducted at the ICMR network sites in India. ICMR’s phase I trial network, launched last
year, facilitates first-in-human safety studies for innovative and affordable frontier medtech, including small molecules,
biologics and vaccines. IIL has partnered with Griffith University, Australia, to develop the codon de-optimised live
attenuated Zika vaccine. A viral infection, Zika is mostly a mosquito-borne disease. {Read more}
Smart Points:
• IIL + ICMR = signed memorandum of agreement for clinical development of India’s first Zika virus vaccine
- Zika – mosquito-borne disease
• ICMR – will fund phase I clinical trial costs | Trails to be conducted at – ICMR network sites in India
• Phase I trial network – facilitate first-in-human safety studies for innovative & affordable frontier medtech
• IIL + Griffith University (Australia) = partnered to develop codon de-optimised live attenuated Zika vaccine
• HQs of ICMR – New Delhi, India | Director General – Rajiv Bahl | Established in – 1911
• HQs of IIL – Hyderabad, Telangana | Chairman – Meenesh C Shah | MD – K Anand Kumar

❖ Other Miscellaneous News & Current Static GK:

• October 29 – International Day of Care and Support
(Theme - “Transforming Care Systems: Achieving the Sustainable Development Goals in the context of Beijing+30”)
• October 30 – World Thrift Day - in India (worldwide - on October 31)
• 1st edition of Kho Kho World Cup 2025 – India
• “Onitis bordati”, a new species of dung beetle – identified in Meghalaya
• “Elongated tortoise”, a critically endangered species of tortoise – spotted in Haryana

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 A GLIMPSE OF SOME GENUINE TESTIMONIALS

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 A GLIMPSE OF SOME GENUINE TESTIMONIALS

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