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Banking Current Affairs: 12th Oct 2023

Today’s Current Affairs: 12th Oct 2023 for SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc

IMF Maintains 2.5% Growth Forecast for Pakistan:

  • The International Monetary Fund (IMF) has decided to keep Pakistan’s economic growth forecast at 2.5%.
  • This figure remains consistent with the IMF’s previous report and is in line with official projections, although it falls short of the official target by 1%.

Shreshta Scheme For Quality Education Of Scheduled Caste Students:

  • The Ministry of Social Justice & Empowerment has unveiled the ‘Scheme for Residential Education for Students in High Schools in Targeted Areas’ (SHRESHTA). The primary objective of this initiative is to extend the influence of government development …

RBI Stops Bank of Baroda From Adding New Customers On Its Mobile App:

  • The Reserve Bank of India (RBI) has taken a significant step to address supervisory concerns by ordering Bank of Baroda (BoB) to immediately halt the onboarding of new customers onto their mobile app, ‘bob World‘.

Rohit Sharma Leads India to Victory:

  • Match against Afghanistan at Delhi’s Arun Jaitley Stadium during the 2023 World Cup, India’s captain, Rohit Sharma, achieved a historic milestone.

MoC&F launched web portal with Statistical Data of Chemical Sector:

  • The Ministry of Chemicals and Fertilizers(MoC&F) has launched a web portal ( to provide statistical data related to the chemical sector for the benefit of all stakeholders.
  • The portal was launched during the Sensitization workshop on ChemIndia – Chemicals Inventory of India: An Online Data Management System in New Delhi, Delhi.

Joint HADR Exercise CHAKRAVAT 2023 :

  • The 2023 edition of the Annual Joint Humanitarian Assistance and Disaster Relief (HADR) Exercise (AJHE) – “CHAKRAVAT 2023” was conducted by the Indian Navy (IN) at Goa from 09th to 11th October 2023.
  • To address the challenges posed by climate change in the Indian Ocean Region (IOR), the Indian armed forces conduct HADR operations as part of India’s Security And Growth for All in the Region (SAGAR) initiative.

EU Approves World’s 1st Green Bond Standards to Avoid Greenwashing:

  • European Union (EU) lawmakers approved new standards for companies issuing “green” bonds to help investors by enabling them to distinguish truly sustainable companies from those engaged in greenwashing or misleading climate-friendly claims.
  • These standards introduce the “European Green Bond” label, representing a first-of-its-kind global initiative.

Axis Bank and Fibe Partner to Launch India’s First Numberless Credit Card:

  • Axis Bank Limited and Social Worth Technologies Private Limited (Fibe) (formely known as EarlySalary) have partnered to launch India’s first-ever numberless credit card called Fibe Axis Bank Credit Card.
  • The card, powered by Rupay, also allows the customer to link this credit card to Unified Payments Interface (UPI).

Federal Bank Extends UPI Services to NRIs to Enhance Seamless Transaction:

  • Kerala based Federal Bank Limited has extended the Unified Payments Interface (UPI) integration for Non-Residential External (NRE) clients through its mobile banking platform, FedMobile, to enhance banking convenience for its Non-Residential Indian (NRI) clients.

Periodic Labour Force Survey (PLFS) for April-June 2023:

  • India’s urban unemployment rate (UR) in Current Weekly Status (CWS) terms for persons aged 15 years and above declined to 6.6% during Q1FY24 from 6.8% during Q4FY23. It was 7.6% in April-June 2022 (Q1FY23).
  • The UR for Q1FY24 is lower than the URs observed in the quarters covered in the pre-pandemic period.

IMF’s WEO Oct 2023:

  • According to World Economic Outlook (WEO), October 2023 -Navigating Global Divergences‘ the International Monetary Fund (IMF) has raised India’s Gross Domestic Product (GDP) growth forecast to 6.3% in 2023 from July 2023 estimate of 6.1% due to 7.8% growth during the June quarter.
  • India will also grow at 6.3% in 2024 while remaining the world’s fastest growing major economy in 2023 and 2024

The International Olympic Committee (IOC) new cooperation agreement

  • The International Olympic Committee (IOC) with the Olympic Museum along with Reliance Foundation signed a new cooperation agreement to expand and promote the Olympic Values Education Programme (OVEP) in India.
  • The agreement was signed by IOC President Thomas Bach and Nita Ambani, IOC Member in India and Reliance Foundation Founder Chairperson, during a visit to the Reliance Foundation Young Champs (RFYC) football academy in Mumbai, Maharashtra.

Verstappen wins Qatar GP 2023:

  • Formula 1 racing Verstappen seals third F1 title as Piastri wins sprint (1)Max Verstappen, the Belgian- Dutch driver of Red Bull added his name to the list of Formula One (F1) triple champions.
  • Max Verstappen achieved this feat by securing 2nd place in Qatar Grand Prix 2023 sprint race, Australian driver of McLaren Oscar Piastri won the Sprint race.

Jannik Sinner Wins China Open 2023:

  • Jannik Sinner of Italy won the China Open 2023 men’s single title against Daniil Medvedev (Russia) for the first time.
  • It was held at the Beijing Olympic Green Tennis Center, Beijing, China from September 28 – October 04 2023.
  • It was the 22nd edition of the China Open (1993 to 2023).

International Day of the Girl Child 2023

  • The United Nations (UN) International Day of the Girl Child(IGDC) is annually observed across the globe on 11 October to focus attention on the need to address the challenges girls face and to promote girls’ empowerment and the fulfillment of their human rights.
  • The theme of IDGC 2023 observed on 11th October 2023 is “Invest in Girls’ Rights: Our Leadership, Our Well-being”.