Daily Current Affairs – 7 October 2022

French writer Annie Ernaux wins the 2022 Nobel Prize in literature

The French writer Annie Ernaux has been awarded the 2022 Nobel Prize in literature.
The 82-year-old writer is known for works that blur the line between memoir and fiction.
She awarded Nobel prize “for the courage and clinical acuity with which she uncovers the roots, estrangements and collective restraints of personal memory”
Her more than 20 books, many of which have been school texts in France for decades, offer one of the most subtle, insightful windows into the social life of modern France.

History of Nobel price

Alfred Nobel’s will of 1895 instructs that his fortune must be used as a fund to confer five annual prizes to those people who during the preceding year have conferred the greatest benefit to humankind.
The prizes established through his will were for five fields– Physics, Chemistry, Physiology or Medicine, Literature and Peace.
The sixth category, Economic Sciences, was not originally listed in Alfred Nobel’s will.
It was established in 1968 by the Bank of Sweden in memory of Alfred Nobel and was first awarded in 1969.
Post the death of Alfred Nobel, the Nobel Foundation was established to carry out the provisions of his will and to administer the funds.
According to the will, three Swedish and one Norwegian institution must award the prizes.
The Royal Swedish Academy of Sciences awards the prizes for Chemistry, Physics and Economic Sciences, the Karolinska Institute confers the prize for physiology or medicine, and the Swedish Academy confers the prize for literature.
The Nobel Peace Prize is conferred by the Norwegian Nobel Committee based in Oslo.

Selection process of Nobel price

The selection process for the Nobel Prizes begins in the preceding year during Autumn and the winners are announced in October and November.
The aforementioned institutions invite thousands of individuals to nominate the names to be considered for the prestigious prize.
Nominations from each category are filed and the proposals must be submitted on or before January 31 of the award year to the Nobel Committees.

World Bank estimated India FY23 projected growth to 6.5%

The World Bank has trimmed its estimate for India’s growth in the current fiscal year (FY22-23) to 6.5%, one percentage point lower than its previous projection in June and compared with the last fiscal year’s 8.7% pace.
The estimate for the current year was revised due to ‘persistent pressures’. The Indian economy is expected to speed up to 7% in the next fiscal year, before settling back down to 6.1% in FY2425.

About World Bank Group

The World Bank Group is an international partnership comprising 189 countries and five constituent institutions that works towards eradicating poverty and creating prosperity.

The five development institutions under the World Bank Group are:

International Bank for Reconstruction and Development (IBRD)
International Development Association (IDA)
International Finance Corporation (IFC)
Multilateral Guarantee Agency (MIGA)
International Centre for the Settlement of Investment Disputes (ICSID)

The World Bank is the collective name for the International Bank for Reconstruction and Development (IBRD) and International Development Association (IDA)

World Bank Group Membership

To join the World Bank Group, a country must first become a member of the IMF.
To become members of the IDA, IFC, and MIGA, the countries must first become members of IBRD.
Membership of the ICSID is subject to all the following conditions:

IBRD membership
Party to the Statute of the International Court of Justice (ICJ)
Invitation of the ICSID Administrative Council by a vote of two-thirds of its members

Moonlighting is in news

Moonlighting – or employees working for remuneration with entities other than their employers

What does the law says about Moonlighting

Moonlighting is not defined in any of the statutes in India,
No Constitutional Court has rendered a decision on the subject
Section 60 of the Factories Act deals with restriction on double employment stating that “No adult worker shall be required or allowed to work in any factory on any day on which he has already been working in any other factory, save in such circumstances as may be prescribed”. However, this enactment is applicable only to employees working in factories,
Moonlighting is subject to law of the land. The sphere of employment cannot be extended by the employer beyond working hours and outside his place of employment
In other words, the employee can choose to arrange his affairs as he pleases beyond the working hours of the employer.

Indigenously developed Light Combat Helicopter (LCH ) ‘Prachand’

The indigenously developed Light Combat Helicopter (LCH) Prachand, meaning fierce, was formally inducted into the Indian Air Force at the Jodhpur airbase on Monday.
The multirole attack helicopter has been customised as per the requirements of the Indian armed forces to operate both in desert terrains and highaltitude sectors.
The LCH is the only attack helicopter in the world that can land and take off at an altitude of 5,000 metres (16,400 ft).
It is also capable of firing a range of airtoground and airtoair missiles.

Main features of LCH

Powered by twin Shakti engines, a collaborative effort of the HAL and France’s Safran company,
The LCH is a 5.8tonne class combat helicopter with potent ground attack and aerial combat capability.
The helicopter can fly at a maximum speed of 288 kmph and has a combat radius of 500 km, which can go up to a service ceiling of 21,000 feet, making it ideal to operate in Siachen.
It incorporates several stealth features such as reduced radar and infrared signatures, crashworthy features for improved survivability, armoured protection systems and night attack capability.

LCH will give an edge to the armed forces

The induction of the LCH into the Air Force has been termed as a “big boost” to the combat prowess of the armed forces and a “potent platform to meet the operational requirements of the IAF and the Army”.
The LCH helicopters can be deployed to assume air defence, antitank roles in highaltitude, counterinsurgency, and search and rescue operations, and are equipped with advanced technology which can be used to destroy the enemy’s air defence, as per HAL.
It can be deployed to perform Combat Search and Rescue (CSAR), bunker busting operations, counterinsurgency operations in the jungle and urban areas and support the ground forces, Defence Ministry officials said.

About LCH project

The LCH project can be traced to the 1999 Kargil war when the armed forces felt the need for a dedicated platform capable of operating at high altitudes and delivering precision strikes as the existing attack choppers couldn’t effectively hit targets.
In October 2006, the government sanctioned the design and development of the LCH.
The Indian Army joined the programme in December 2013.
The Hindustan Aeronautics Limited (HAL) built four LCH prototypes flight tested them with over 1,600 total flights logging 1,239 flight hours.
The ground run was first carried out in February 2010 and the first prototype ‘TD1’ took its maiden flight on March 29, 2010, as the crew carried out low speed, Low altitude checks on the systems.
After extensive flight testing in diverse terrains and weather conditions, the LCH received initial operation clearance on August 26,2017
It was declared ready for production in February 2020.
A year later, Prime Minister Narendra Modi handed over the LCH to the Indian Air Force.
Earlier this year, the Cabinet Committee on Security, headed by PM Modi approved the procurement of 15 limited series production (LSP) variants at a cost of ₹3,887 crore – 10 for the IAF and five for the Indian Army.
The Indian Army formally inducted its first Light Combat Helicopter on September 29.

Vande Bharat train damaged after hitting buffaloes

The train was damaged on hitting buffaloes between the Gairatpur and Vatva stations in Gujarat

About Vande Bharat Trains

It is an indigenously designed and manufactured semi high speed, self-propelled train that is touted as the next major leap for the Indian Railways in terms of speed and passenger convenience since the introduction of Rajdhani trains.
The first Vande Bharat was manufactured by the Integral Coach Factory (ICF), Chennai, as part of the ‘Make in India’ programme’ at a cost of about Rs. 100 crore.
The Vande Bharat was India’s first attempt at adaptation of the train set technology compared with conventional systems of passenger coaches hauled by separate locomotives.
- The train set configuration, though complex, is faster, easier to maintain, consumes less energy, and has greater flexibility in train operation.
Currently, two Vande Bharat Expresses are operational—one between New Delhi and Varanasi and the other from New Delhi to Katra.
The 400 new trains will have “better efficiency”and railways are looking at making several of these trainsets with aluminium instead of steel.
- An aluminium body will make each trainset around 40-80 tonnes lighterthan a current Vande Bharat and this will mean lower consumption of energy as well as better speed potential.

Main Features of the Vande Bharat Trains

These trains, dubbed as Train 18during the development phase, operate without a locomotive and are based on a propulsion system called distributed traction power technology, by which each car of the train set is powered.
Its coaches incorporate passenger amenities including on-board WiFi entertainment, GPS-based passenger information system, CCTVs, automatic doors in all coaches, rotating chairs and bio-vacuum type toilets like in aircraft.
It can achieve a maximum speed of 160 kmph due to faster acceleration and deceleration, reducing journey time by 25% to 45%.
It also has an intelligent braking system with power regeneration for better energy efficiency thereby making it cost, energy and environment efficient.

President Draupadi Murmu launched a Start-up platform “her START” at Gujarat University for women entrepreneurs in Ahmedabad

The platform dedicated to women entrepreneurs, will not only boost innovation and startup efforts of women entrepreneurs but also prove to be an effective platform in connecting women entrepreneurs with various government and private enterprises.
The initiative will also link women entrepreneurs with various private and government platforms.
Murmu inaugurated or laid foundation stones of projects worth ₹1,330 crore.
This is the president’s first visit to Gujarat.

NPCI launched Rupay debit card in Oman

Location of Oman

Oman, country occupying the southeastern coast of the Arabian Peninsula at the confluence of the Persian Gulf and Arabian Sea.
Much of the country’s interior falls within the sandy, treeless, and largely waterless region of the Arabian Peninsula known as the Rubʿ al-Khali.
The capital, Muscat, lies along the northern coast. Blending modern and traditional architecture, the city commands a view of the Gulf of Oman and serves as a port and commercial centre.

About RuPay Cards

RuPay is the first of its kind global card payment network of India with wide acceptance at ATMs, Point of Sale Devices, and e-commerce platforms across the country.

It was launched in 2012 by the Reserve Bank of India (RBI).
The name RuPay is derived from ‘Rupee’ and ‘Payment’ which emphasizes that it is India’s very own initiative for VCard Payments.
RuPay is an initiative of the National Payment Corporation of India (NPCI), the umbrella organization that powers retail payments in the country.

RuPay Card Aim & Vision

RuPay was launched with the vision of building the necessary banking infrastructure to drive India towards a “less cash economy”.

Issuing Banks:

At present, more than 1,100 banks issue RuPay Cards. These banks include Public Sector Banks, Private Sector Banks, Regional Rural and Co-operative Banks.
Its ten core promoter banks are State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank, HDFC Bank, Citibank N. A. and HSBC.

Benefits of RuPay Cards

RuPay is designed to meet the needs of Indian customers. Some of the benefits of RuPay cards are as follows:

Security of information related to the customers:

- Data of consumers and all the transactions pertaining to the RuPay card are secured under this scheme.

Safe transactions:

- With SMS alerts and notifications that are sent to the customer’s phone number after every transaction, RuPay cardholders can be ensured of a secure transaction.

Greater reach:

- RuPay Card was associated with the Jan Dhan Account hence, consumers in rural areas can easily apply and get a RuPay card.

Less transaction costs:

- When it comes to the RuPay cards transactions, all the processing happens within the country. This results in a lower cost of settlement and clearing for the transactions made using a RuPay debit card. Banks will profit immensely from this as costs for transaction processing become affordable.

Payment solutions across platforms:

- RuPay debit card is designed to provide complete interoperability between payment channels including mobile technology, ATMs, cheques, etc.

Suitable for Indian customers:

- RuPay cards have been customized keeping in mind the product and service requirements of Indian customers, merchants and banks.

Accidental insurance for RuPay ATM cardholders:

- All RuPay ATM-cum-debit cardholders are presently eligible for accidental death and permanent disability insurance cover. RuPay Classic cardholders are eligible for a cover of Rs 1 lakh, whereas RuPay Premium cardholders are eligible for a cover of Rs 2 lakh.

Former German Chancellor Angela Merkel won the United Nations Refugee Agency’s prestigious Nansen award for her leadership courage and compassion

Sanjeev Kishore will take over the charge of the Director General of the Indian Ordinance Factory in October 2022

7^th October Observed as

World Smile Day
International Day of Peaceful Communication
First Friday of October observed as World College Radio Day