Correct Answer : Option (D) - NTPC Ltd
Note : NTPC Ltd and GE Gas Power signed a memorandum of understanding (MoU) on Thursday(6th Oct 2022) for feasibility to demonstrate hydrogen co-firing blended with natural gas in GE’s 9E gas turbines installed at NTPC’s Kawas combined-cycle gas power plant in Gujarat.
The two companies will jointly explore the pathways to reduce CO2 emissions from Kawas gas power plant and further implementation at scale across NTPC’s installed units in India, said a statement from NTPC.
NTPC’s Kawas gas power plant is powered by four GE 9E gas turbines operating in a combined-cycle mode and has an installed capacity of 645 megawatt (MW). Further, GE’s advance E- Class gas turbine portfolio currently has the capability to burn up to 100% by volume of hydrogen when blended with natural gas.
In this first-of-its-kind MoU with NTPC in India, GE Gas Power will evaluate the possible modifications in the gas turbine unit and auxiliaries required for blending of H2 with natural gas..
Source : Mint
Correct Answer : Option (A) - Prashant Kumar
Note : Reserve Bank of India (RBI) has approved the appointment of Prashant Kumar as the Chief Executive Officer(CEO) and Managing Director(MD) of the bank for three years. His appointment has come into effect from 6th October 2022, as per the latest exchange filing.
The filing read, “We would like to inform that RBI vide its letter dated October 06, 2022 has approved the appointment of Mr Prashant Kumar as the MD and CEO of the Bank under Section 35B of the Banking Regulation Act, 1949 for a period of three years effective from today i.e., October 06, 2022 subject to approval of shareholders.”
The filing stated that Kumar is not related to any other director or important managerial personnel in the bank and is not barred from holding the office of a director by SEBI or any other regulatory body. Kumar was appointed as the CEO and MD of the bank after its reconstruction in March 2020.
Upon Kumar’s appointment as the CEO and MD of the bank, a forensic probe was conducted into some of its top accounts that either turned NPAs or were declared as fraudulent. These accounts included Cox & Kings, ADAG Group, Essar Group and Essel Group.
The RBI had placed YES Bank under a moratorium as the bank gave out large loans which it failed to recover. The central bank said, “YES Bank…
Before his YES Bank stint, Kumar was the Deputy Manager and CFO at State Bank of India (SBI), which he joined as a probationary officer (PO) in 1983. Kumar has a degree in science and law from Delhi University..
Source : Business Today
Correct Answer : Option (B) - October 7
Note : World Cotton Day is celebrated every year on October 7 to highlight the significance of cotton products globally.
Cotton fibre and cottonseed are two of the most heavily used plant products globally. India is one of the largest cotton producers globally. It is a multipurpose plant chiefly used in the textile industry but also in the medical sector, edible oil industry, animal feeds, and bookbinding, among others.
World Cotton Day 2022 Theme : The theme for 2022’s celebration of World Cotton Day appears to be “Weaving a better future for cotton,” as apparent from the posters released by the Food and Agriculture Organisation of the United Nations (FAO). The theme looks at sustainable farming of cotton to help improve the lives of cotton workers, such as labourers and smallholders and their families. FAO’s official website mentions that the event will take place at 12:30-15:00 hours, Central European Summer Time (CEST) on October 7.
World Cotton Day History : The development and promotion of cotton cultivation are part of the United Nations (UN) Sustainable Development Goals. To meet the goals, the World Trade Organisation (WTO), The United Nations Conference on Trade and Development (UNCTAD) and the International Trade Centre (ITC) undertook a joint initiative on cotton by-products. The initiative offers assistance to the “Cotton-4" nations, which are Benin, Burkina Faso, Chad and Mali, and other cotton-producing countries in Africa, to develop cotton by-products and its markets.
In response to a formal appeal by the Cotton-4 countries to the United Nations General Assembly (UNGA), on October 7, 2019, the WTO Secretariat, in collaboration with Secretariats of the International Cotton Advisory Committee (ICAC), FAO, UNCTAD and ITC, hosted the first World Cotton Day (WCD) event in Geneva.
World Cotton Day Significance : World Cotton Day is celebrated across the globe through events that disseminate knowledge and give assistance to cotton farmers, processors, researchers and all other stakeholders about cotton production and marketing. The event provides an impetus for economic development of farmers as well as developing nations..
Source : News18
Correct Answer : Option (C) - Rs 1,500 crore
Note : The Union Finance Ministry on Wednesday(5th Oct 2022) allowed airlines to avail of up to Rs 1,500 crore loan under the Emergency Credit Line Guarantee Scheme (ECLGS), to help them tide over their cash flow problems.
Earlier, an airline could avail of a loan of not more than Rs 400 crore under the ECLGS. The Centre had in 2020 started the ECLGS to provide collateral-free and government-guaranteed loans to businesses affected by the Covid pandemic.
The Finance Ministry's decision is likely to benefit financially-beleaguered airlines, such as SpiceJet, which have been looking for the Centre’s assistance to run their operations. Last month, the airline took a loan of approximately Rs 225 crore under ECLGS.
* It is a positive approach for the airlines to secure their working capital and funds for operation.
* The Department of Financial Services has informed that it has enhanced the maximum loan amount eligibility for airlines under the ECLGS to 100 percent of their total credit outstanding.
* The modification in the policy aims to give necessary collateral-free liquidity at reasonable interest rates
* Due to the Covid-19 pandemic, the Aviation sector was affected significantly.
* The halt in domestic and international travel made it more difficult for the airlines to run consistently.
* Amid the Russia-Ukraine war, the prices of Aviation Turbine Fuel (ATF) have shown immense volatility in the past several months.
* The cost of ATF forms around 40 percent of the total operating cost of Airlines impacting their financial viability..
Source : Business Standard
Correct Answer : Option (B) - Kishore Kumar Poludasu
Note : SBI General Insurance Company Limited has announced the appointment of Shri Kishore Kumar Poludasu as its new Managing Director & Chief Executive Officer. He was nominated by the parent company, State Bank of India, for the position and has been appointed w.e.f 4th October 2022.
Shri Kishore Kumar Poludasu has been associated with State Bank of India since 1991 and held several positions with the bank during his tenure. Prior to his current role at SBI General under State Bank Group, he was the Deputy Managing Director, as the Country Head of State Bank of India, Singapore Operations.
He is a seasoned BFSI professional with over 3 decades of experience in commercial banking including large Corporate/Infrastructure Credit, International Banking operations, Enterprise Management, Mergers & Consolidation, etc. A conscientious and determined leader, Shri Poludasu has a strong track record of delivering long-term results, emphasising the organisation’s customer-centric culture, and providing value to customers at every touch point..
Source : Bfsi
Correct Answer : Option (D) - NIT Srinagar
Note : India’s first green technology incubation centre called the ‘Greenovator Incubation Foundation’ will soon open at the National Institute of Technology (NIT) Srinagar. The centre is expected to start by the end of 2023. The upcoming centre will focus on topics like AgriTech, EnviroTech, and AlterTech.
The Department of Science and Technology (DST) will finance and support a three-year initiative known as Inclusive TBI (i-TBI) for educational institutions, idea generators, innovators, and entrepreneurs. This is to support startup initiatives, innovative ideas, and promote self-employment and job creation through incubation.
Aside from the softer aspects of GreenTech the proposed incubator would also address some of the issues that have the potential to affect the socioeconomic standing of the valley. It will also produce innovations that can be applied to other markets and increase the chances of interstate trade and commerce.
Correct Answer : Option (D) - Burkina Faso
Note : Armed soldiers could be seen strolling the streets in Burkina Faso as soldiers announced the overthrow of the military regime on Friday(30th Sep 2022). Militants in fatigues and masks appeared on TV and announced the sacking of President Paul-Henri Sandaogo Damiba.
The troubled West African nation witnessed the second coup in a year, which has further destabilised Burkina Faso.
Multiple explosions and gunfire shots could be heard in the capital Ouagadougou on Friday(30th Sep 2022) morning before the state television was interrupted. This year’s second military coup was in line with the growing insurgency in Western and Central Africa perpetrated by Islamic extremists.
The recent military insurgencies have killed thousands of civilians across the Sahel region, weakening governments, elected and other kinds.
Apart from Burkina Faso, other African countries that have witnessed coups since 2020 include Mali, Chad and Guinea. Burkina Faso’s new military regime, which has ousted the regime that came to power in January, is led by Captain Ibrahim Traore, who also appeared on television along with his soldiers.
Traore announced the dissolution of the Damiba regime due to the latter’s incapability to deal with Islamic extremists. Ironically, Damiba cited the same reason for overthrowing former President Roch Kabore earlier this year, who was elected in 2015..
Source : Economic Times
Correct Answer : Option (A) - International Finance Corp
Correct Answer : Option (C) - Uttar Pradesh
Correct Answer : Option (B) - Narendra Modi