Daily Current Affairs: October 8, 2020

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Daily Current Affairs (October 8, 2020) like many other sections is inevitable and this also helps to score in the Banking awareness, Static GK, and Financial Awareness sections. Remember, Banking Awareness, and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

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Important Days

Air Force Day- October 8:

  • Indian Air Force (IAF) is celebrating its 88th anniversary on 8th October 2020.
  • Indian Air Force was officially established on 8 October 1932 by the British Empire as the Royal Indian Air Force.
  • The name was changed to Indian Air Force in 1950. 

National News

Assam government launches “Kisan Rath” mobile app to promote buyer seller network:

  • Assam government has launched a mobile app “Kisan Rath” App connects more than 10,000 farmers, 50 farmer-producer organizations and 1,000 verified agricultural traders on its interface.
  • The app has been customized by National Informatics Centre (NIC) Assam to suit the requirements of the state.
  • It is available in 3 languages- Assamese, Hindi and English.
  • PM Kisan Samman Nidhi, Krishi Sinchai Yojana, Fasal Bima Yojana, KCC etc., have strengthened agricultural ecosystem in the country and made agriculture a dignified calling.


  • Capital: Dispur
  • Chief Minister: SarbanandaSonowal
  • Governor: Jagdish Mukhi
  • National Parks: Orang National Park, Manas National Park or Manas Wildlife Sanctuary, Dibru-Saikhowa National Park, Kaziranga National Park, Nameri National Park, Dehing Patkai Wls.

Smriti Irani launches India’s first ever Brand and Logo for Indian Cotton on World Cotton Day October 7:

  • Union Minister of Textiles Smriti Irani launched the first ever Brand and Logo for Indian Cotton on Second World Cotton Day on October 7 through video conferencing. 
  • India’s premium cotton would be known as ‘Kasturi Cotton’ in the world cotton trade. The Kasturi Cotton brand will represent Whiteness, Brightness, Softness, Purity, Luster, Uniqueness and Indianness.

Government of India Launches “Startup India Showcase Platform” to Feature Exceptional Startups:

  • Department for Promotion of Industry and Internal trade (DPIIT) during the online facilitation ceremony launched an online discovery platform called ‘Startup India Showcase’.
  • The platform will exhibit the details of some of India’s most promising and credible startups that are chosen through DPIIT and various startup India programs.
  • The main aim of this website is to make a repository of India’s most promising startups that have proved their capabilities, from across sectors such as fintech, enterprise tech, social impact, healthtech and edtech, among others.

Ministry of New & Renewable Energy and NITI Aayog Invest India organized the global symposium ‘India PV Edge 2020’:

  • NITI Aayog and Ministry of New & Renewable Energy (MNRE) Invest India together organized a global symposium ‘India PV Edge 2020’.
  • It was one of its kind platform for global cutting-edge technology providers, equipment makers and PV champions to present their technologies to PV manufacturing plans and collaborate, thus boosting the ‘Make in India’ campaign.
  • Minister of State (MoS) (Independent Charge) for New and Renewable Energy, R.K. Singh, Chief Executive Officer (CEO) NITI Aayog, Amitabh Kant, Managing Director (MD) & CEO of Invest India Deepak Bagla attended the session.

Finance Minister Nirmala Sitharaman Launches Indian Bank’s Business Mentoring Programme ‘MSME Prerana’ for MSMEs:

  • Finance Minister Nirmala Sitharaman launched ‘MSME Prerana’, an online business mentoring programme for MSMEs by state-run Indian Bank. The programme to be made available in local languages, is aimed at empowering entrepreneurs through skill development and capacity building workshops.

Union Minister Piyush Goyal Declares Results of National Startup Awards 2020:

  • Minister of Railways and Commerce and Industry Piyush Goyal released the result of the National Startup Awards 2020.
  • The first edition of the Awards had applications from 12 sectors, which were further sub-classified into a total of 35 categories.
  • The award has been introduced by the Department for Promotion of Industry and Internal Trade (DPIIT) to recognize and reward outstanding Startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises, with high potential of employment generation or wealth creation, demonstrating measurable social impact.

MoHUA secretary Durga Shanker Mishra launched API Integration between PM SVANidhi Portal and SBI’s eMudra Portal:

  • Ministry of Housing & Urban Affairs Secretary Shri Durga Shanker Mishra launched the Application Programming Interface (API) integration between the PM SVANidhi Portal and the State Bank of India (SBI) eMudra portal.  
  • As a part of Prime Minister Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme will facilitate seamless flow of data between the two portals. It will benefit the street vendors seeking working capital loan under the Scheme.

Telangana Govt Signs Tripartite Agreement between DET, GIZ and Siemens India to Implement New Initiative IGnITE:

  • Telangana Government signed a tripartite agreement between DET, GIZ India and Siemens India to implement a new initiative, Indo-German Initiative for Technical Education (IGnITE), which focuses on the need of the industry, industry practices and training of trainees in the presence of Labour and Employment Minister Ch Malla Reddy.


  • Capital:Hyderabad
  • Chief Minister:K. Chandrashekar Rao
  • Governor:TamilisaiSoundararajan
  • National Parks(NP):KasuBrahmananda Reddy NP, Mahaveer Harina NP, Mrugavani NP.

Banking and Economy

India’s First Business-To-Business (B2B) Crypto Exchange ‘DigitX’ Launched:

  • DigitX is India’s first Business-to-Business (B2B) Crypto trading exchange has commenced its trading operations. In a highly potential yet challenging market, DigitX aims to deliver transparency and security with its Platform armed with features to bring about a much-needed trust and confidence for the investors and traders of Crypto.

NABARD signs 3 MoUs with SBI to extend credit support for various projects in Gujarat:

  • NABARD (National Bank for Agriculture and Rural Development) has inked three Memoranda of Understanding with State Bank of India to extend credit support for various projects in Gujarat.
  • The MoUs were signed for financing joint liability groups and Self-Help Groups-support credit inflows to Farmer Producers Organizations and economic support for watershed development projects.
  • The signing of MoUs took place between D. K. Mishra, Chief General Manager of NABARD in Gujarat and Dukhbandhu Rath, Chief General Manager, SBI Ahmedabad Circle in the presence of NABARD Chairman G. R. Chintala.

National Bank for Agriculture and Rural Development (NABARD):

  • Headquarters: Mumbai
  • Formation: July 12, 1982
  • Chairman: Chintala Govinda Rajulu

Chqbook launches India’s first ‘Financial Control Center’ on mobile to empower 60 million small business owners:

  • Chqbook is India’s first Neobank for small business owners like kiranas, merchants, chemists, and others running proprietorships announced the launch of its new mobile platform ‘Financial Control Center’. With this launch, Chqbook brings world-class financial services to a massive underserved segment.
  • The mobile application of Chqbook will give small businesses the power to manage everyday financial needs and to access other financial products, which helps them to save time, effort and money.

Acquisitions and Mergers

NSDC signed MoU with FLO to create employability and promote entrepreneurship:

  • Empowering women through Skill Training in order to enhance their employability and promote entrepreneurship, FLO, the Women’s Wing of FICCI signed an MoU with National Skill Development Corporation (NSDC).
  • This MoU will be under the auspices of the FLO’s 3Cs (Competency, Capacity, and Confidence) initiative. 
  • It will support the empowerment of women to develop sustainable economic possibilities at various levels like grassroots, medium, and senior.
  • The primary focus of this MoU is to generate sustainable livelihood for women.

Amazon India partners with IRCTC to offer train ticket bookings:

  • Amazon India had partnered with Indian Railway Catering and Tourism Corporation (IRCTC) to provide their customers with the facility to book reserved train tickets on its platform.
  • Customers will be able to check PNR status for ticket booked through its platform.
  • With this launch, Amazon Pay adds another travel category, thereby offering its customers a one-stop shop for booking flights, bus and train tickets.

Science and Technology

Indian Coast Guard Offshore Patrol Vessel ‘Vigraha’ launched to enhance coastal security:

  • The seventh offshore patrol vessel of the Indian Coast Guard (ICG), ‘Vigraha’ was formally unveiled at Kattupalli, Chennai.
  • The vessel was designed and built exclusively for the Coast Guard by Larsen and Toubro (L&T) Shipbuilding as a part of the ‘Make in India’ initiative.
  • Vigraha is likely to be inducted into the Indian Coast Guard in March 2021, the vessel would serve the East Region from Visakhapatnam. The OPV is 98-metre-long, 15-metre-wide has 3.6 m draught, 2140T displacement and a range of 5,000 nautical miles. It can attain a sustained speed of upto 26 knots.

Russia Successfully Test Fires New Hypersonic Cruise Missile “Tsirkon”:

  • Russia has successfully test-fired its highly touted hypersonic cruise missile called “Tsirkon” in the waters of north-western Russia. The test was carried out from Frigate Admiral Gorshkov Vessel located in White Sea, Northern Russia.
  • Tsirkon test-fired from the White Sea at a target 450 kilometers away in the Barents Sea.


M Rajeshwar Rao appointed as RBI Deputy Governor:

  • Government of India has appointed Reserve Bank of India’s (RBI) executive director M Rajeshwar Rao as the Deputy Governor of the central bank.
  • The position had been lying vacant for more than six months after N.S. Vishwanathan retired on March 31.
  • Four Deputy Governors of RBI are M Rajeshwar Rao, M. D. Patra, B.P. Kanungo and M. K. Jain.

Jordan’s king Abdullah appoints veteran diplomat Bisher Al-Khasawneh as prime minister:

  • Jordan’s King Abdullah II bin Al-Hussein appointed veteran diplomat and palace aide Bisher Al-Khasawneh as the new prime minister, days after accepting the resignation of Omar Al-Razzaz.
  • Khasawneh has a PhD in law from London School, is a veteran diplomat and politician, who held several official posts. He served as the advisor to King Abdullah for Communication and Coordination at the Royal Court. He also served as the advisor to King Abdullah for policies until his assignment


  • Capital: Ammān
  • Currency: Jordanian Dinar
  • Prime Minister: Bisher Al-Khasawneh

J Venkatramu appointed as MD and CEO of India Post Payments Bank:

  • J Venkatramu has been appointed the managing director and chief executive officer of India Post Payments Bank (IPPB) for a period of three years. He is presently working as the chief digital officer in Equitas Small Finance Bank.
  • India Post Payments Bank was launched by Prime Minister Narendra Modi in 2018 under Section 22 (1) of Banking Regulation Act, 1949.

Government appoints Dinesh Kumar Khara as SBI chairman for 3 years:

  • Government appoints Dinesh Kumar Khara as chairman of State Bank of India (SBI) for a period of three years with effect from the date of his taking over charge of the post on or after October 7, 2020 or until further orders, whichever is earlier.
  • Khara will replace SBI Chairman Rajnish Kumar, whose three-year term comes to an end on October 7. Khara was appointed as managing director of SBI in August 2016 for a three-year term.

State Bank of India (SBI):

  • Headquarters: Mumbai, Maharashtra
  • Chairman: Dinesh Kumar Khara.
  • Tagline: The Banker to Every Indian

Myntra Appoints Bhuvan Bam as its first digital brand ambassador:

  • Myntra roped in Bhuvan Bam as its 1st digital brand ambassador to engage with tech-savvy customers.
  • Myntra & Bhuvan will co-ideate & create content that effectively communicates brand’s proposition that goes beyond the traditional forms of communication.

Nilesh Shah re-elected as chairman of Association of Mutual Funds in India:

  • Nilesh Shah has been re-elected as the Chairman of Association of Mutual Funds in India (AMFI), at the recently concluded Board Meeting of AMFI. He was the AMFI chairman in 2019-20.
  • Shah would also continue as the ex-officio Chairman of AMFI Financial Literacy Committee.
  • Saurabh Nanavati (Chief Executive Officer, Invesco Asset Management (India) Private Limited.) has been re-elected as the Vice-Chairman of AMFI. A. Balasubramanian (Chief Executive Officer Aditya Birla Sun Life Asset Management Co. Ltd.) continues to be the Chairman of AMFI Valuation Committee.

Awards and Recognitions

Two female Scientists Emmanuelle Charpentier and Jennifer A. Doudna wins Nobel Prize in Chemistry 2020 for Genome Editing Discovery:

  • Nobel Prize in Chemistry was jointly awarded to Emmanuelle Charpentier and Jennifer A Doudna for their 2012 work on CRISPR-CAS9, a method to edit DNA.
  • Jennifer A. Doudna is a Professor at the University of California, Berkeley, USA and Investigator, Howard Hughes Medical Institute. Emmanuelle Charpentier is a Director of the Max Planck Unit for the Science of Pathogens, Berlin, Germany.

Andrea Ghez, Roger Penrose and Reinhard Genzel Won Nobel Prize 2020 in Physics for their Discoveries about Black Holes:

  • Andrea Ghez, Roger Penrose and Reinhard Genzel have been awarded the 2020 Nobel Prize in Physics for their pioneering work on space involving the Black Holes and the Milky Way’s darkest secret.
  • Roger Penrose (United Kingdom) won half of prize for discovery that Black Hole Formation is robust prediction of general theory of relativity, Reinhard Genzel (German) and Andrea Ghez (America) received the second half of the prize for the discovery of a supermassive compact object at the Center of Our Galaxy.

TCS becomes second Indian company after RIL to cross Rs 10 lakh crore market capitalisation:

  • Tata Consultancy Services (TCS) became the second Indian company to have a market capitalisation of over Rs 10 lakh crore after Reliance Industries. TCS shares traded 7.16% higher at Rs 2,704.05. At this price, TCS’ market capitalization comes to Rs 10.15 lakh crore.
  • Reliance Industries Limited was the first Indian film to have crossed the Rs 10 lakh crore market valuation mark. Its market valuation currently stands at Rs 14.95 lakh crore – the highest for any listed company in the country.


Department of Fertilizers headed by Sadananda Gowda ranks third in implementing Central schemes; DMEO Survey:

  • Development Monitoring and Evaluation Office (DMEO) was conducted a Survey to assess Ministries /Departments’ performance on implementation of Central Sector Schemes and Centrally Sponsored Schemes.
  • The Department of Fertilizers, Ministry of Chemical and Fertilizers ranked 3rd among the 65 ministries/departments with 4.11 on a scale of 5.
  • The Department of fertilizers also secured 2nd rank among the 16 Economic Ministries/Departments.

Obituary News

Rock Legend and Guitarist Eddie Van Halen passes away at 65:

  • Eddie Van Halen, considered one of rock music’s greatest guitar players, passed away. He is among the top 20 best-selling artists of all time and his band was inducted into the Rock and Roll Hall of Fame in 2007.

Former Union Minister Rasheed Masood passes away at 73:

  • Former Union minister and veteran leader Qazi Rasheed Masood passed away.
  • He had been an MP nine times while he was associated with different political parties.
  • He had also served as the Union minister of state for health (IC) in the VP Singh government.

Former CBI director Ashwani Kumar passes away:

  • Former Governor of Manipur and Nagaland and ex-Central Bureau of Investigation (CBI) Director Ashwani Kumar passed away.
  • He joined the Indian Police Service in 1973.
  • He was sworn-in as the Governor of Nagaland, and as Governor of Manipur in 2013.

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Daily Current Affairs Quiz – October 8, 2020

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