Indian Railways introduces OTP-based refund system
Indian Railways have started a new One Time Password-OTP based refund feature for tickets booked through authorised IRCTC ticketing agents.
As per the IRCTC, the objective behind this initiative is to bring a transparent and customer-friendly refund system.
A registered mobile number will receive an OTP and customer will share OTP with the booking agent for getting refund amount
Kerala tourism to be differently-abled friendly by 2021
Tourist destinations in Kerala are all set to go “differently-abled friendly” by 2021.
A host of facilities, including special parking areas and toilet facilities will be made available for the differently-empowered tourists to enjoy barrier-free holidaying in the State.
A total of 120 tourist spots had been identified across the State in the first phase to implement the project.
Of them, 98 destinations have already been made completely differently-abled friendly.
TN became the first state to enact a law on contract farming
President Ram Nath Kovind approved the Tamil Nadu Agricultural Produce and Livestock Contract Farming and Services (Promotion and Facilitation) Bill, 2019.
The Bill aims to set a policy framework and institutional mechanism on agricultural produce and livestock contract farming.
With the Bill approved, TN state becomes the first state to enact the law on contract farming The Bill was adopted by the Tamil Nadu State government in February 2019.
Britain to vote on December 12 to break Brexit deadlock
British Parliamentarians supported PM Boris Johnson for his call for an election to break Brexit deadlock.
Once the House of Lords passes the legislation and it becomes law by the end of the week, it will be the UK’s third election in four years.
The House of Commons backed the election date, hours after the European Union formally agreed to postpone Britain’s departure again.
Banking & Finance
RBI imposes fine on Jalgaon Peoples Co-operative Bank and Janata Sahakari Bank
RBI has imposed a fine of Rs. 25 Lakh fine on Jalgaon Peoples Co-operative Bank and Rs 1 crore on Pune-based Janata Sahakari Bank.
These fines were imposed because of violating norms of advances management, violating income recognition and asset classification norms.
The action was taken on the basis of deficiencies in regulatory compliance. As per the RBI, these banks were failed to implement directions issued by the RBI.
Business & Economy
Three Indian-origin CEOs in Harvard Business Review’s top 10 best-performing CEOs
Three Indian-origin CEOs, Shantanu Narayen, Ajay Banga and Satya Nadella are among the world’s top 10 best-performing chief executives, featured in a list complied by the Harvard Business Review (HBR).
‘The Best-Performing CEOs in the World, 2019’ list by the HBR features 100 CEOs and has been topped by American technology company NVIDIA’s CEO Jensen Huang.
On the 6th spot is Adobe CEO Shantanu Narayen, followed by MasterCard CEO Ajay Banga, ranked 7th and Microsoft chief Satya Nadella on the 9th spot.
The list also features India-born CEO of DBS Bank Piyush Gupta on the 89th spot. Apple CEO Tim Cook is ranked 62nd.
The HBR took into account three metrics for each CEO’s tenure – the total shareholder return (including dividends reinvested) adjusted by country and by industry and change in market capitalisation (adjusted for dividends, share issues, and share repurchases), measured in inflation-adjusted USD.
DPIIT to introduce exercise to ease FDI norms
The Department for Promotion of Industry and Internal Trade (DPIIT) launched a new exercise to relax India’s foreign direct investment (FDI) norms.
The decision was made in an inter-ministerial meeting held at DPIIT to discuss further opening up in sectors, especially where 100% FDI is not allowed on the automatic route.
Earlier, the government opened FDI in contract manufacturing and eased norms for overseas investors in single-brand retail and coal mining.
ICC bans Bangladeshi cricketer Shakib Al Hasanfrom all cricket for two years
Bangladesh Test and T20 Captain Shakib Al Hasanhas been banned by the International Cricket Council (ICC) from all cricket for two years. One year of the punishment has been suspended after he accepted three charges of breaching the ICC Anti-Corruption Code.
Shakib will be free to resume international cricket from 29th of October next year subject to him satisfying the conditions in respect of the suspended part of the sanction.
Appointment & Resignation
Rafael Grossi becomes new IAEA head
Rafael Grossi has become new Director-General of International Atomic Energy Agency (IAEA). IAEA is also known as the UN’s nuclear watchdog.
He will be headed IAEA for a term of four years. Rafael Grossi is the sixth head of IAEA.
Earlier, Rafael Grossi was working as a diplomatic and nuclear veteran from Buenos Aires in Argentina.
Lebanon PM Saad Hariri stepped down
Lebanon’s Prime Minister Saad Hariri submitted his resignation on 29 October.
The move comes after his efforts to resolve a crisis unleashed by huge protests against Lebanon’s ruling elite. Saad Hariri’s announcement came after 13 days of protest by hundreds of youths.
The protestors overran protest sites in downtown Beirut, ransacking tents and stalls set up by demonstrators.
Anup Kumar Singh took charge as the Director General of NSG
Former Ahmedabad city Police Commissioner and Senior IPS officer Anup Kumar Singh have taken charge as the Director-General of the National Security Guard (NSG).
He was appointed by the Ministry of Home Affairs.
The recommendation of the Ministry of Home Affairs for Singh’s promotion was sent on 10 October to the Department of Personnel and Training (DoPT).
The appointment was approved by the Appointments Committee of the Cabinet (ACC) chaired by Prime Minister Narendra Modi.
Award & Honors
Greta Thunberg refuses Nordic Council environmental award
Greta Thunberg, a Swedish climate activist, has refused to accept an environmental award. She said in an Instagram post that climate movement needed people in power to start to listen to science and not awards.
She thanked Nordic Council for the award and criticized Nordic countries for not living up to their great reputation on climate issues.
She was nominated for her efforts by both Sweden and Norway and won the organisation’s annual environment prize.
New history created in Ayodhya as over six lakh diyas light up Sarayu’s banks
A new history was created at Ayodhya as a record 6 lakh earthen lamps lit up the Sarayu river bank on the eve of Diwali, days ahead of the Supreme Court verdict on the title suit over the disputed Ram Janambhoomi-Babri Masjid land.
The banks of Sarayu in the temple town Ayodhya were lit up with the sparkling light of lakhs of earthen lamps as people from different walks of life took part in the grand programme and lighted ‘diyas’ to cherish the moment.
Last year’s record was of three lakh one thousand one hundred eighty six ‘diyaas’ at the ghat. This time, it was 4 lakh 10 thousand ‘diyaas’ lit at the ghat.
New Book by Man Booker Prize Shortlisted Author Romesh Gunesekera to Hit Stands in November
Man Booker Prize shortlisted Sri Lankan author Romesh Gunesekera’s new novel Suncatcher is a poignant coming-of-age story about difficult friendships and sudden awakenings.
The book is expected to hit the stands in November.
Gunesekera is the author of eight works of fiction, which have been translated into multiple languages. Recipient of many awards, including a Premio Mondello in Italy, he was shortlisted for the Man Booker prize in 1994 for “reef”.
His last book Noontide Toll captured a vital moment in post-war Sri Lanka.
Yoga teacher Nanammal passes away
Nonagenarian yoga exponent V. Nanammal passed away. She was 99.
She was conferred the Padma Shri in January, 2019, which is a recognition of her efforts to make people lead a healthy life.
World Thrift Day is observed on 30th October in India
World Thrift Day is celebrated every year on 31 October. The day aims to promote the savings and financial security of individuals and nations as a whole.
The aim of the day is to change the behavior of people towards saving and constantly remind the importance of wealth.
Saving wealth helps to start a business, get a good education, and avail good healthcare treatment.
The saving habit in people will give independence to both people as well as the Country.