Here are Legal Bites October 2022 monthly GK updates. The notable happenings of the months were related to the Swachh Survekshan Awards, Indian Air force day, the Launch of 5G Service, the SupTech programme, and so on

Here are Legal Bites October 2022 monthly GK updates. The notable happenings of the months were related to the Swachh Survekshan Awards, Indian Air Force day, the Launch of 5G Service, the SupTech programme, and so on. We have covered all the happenings in the gist so that it helps the readers to remember all legal and current updates about October 2022 most efficiently and easily.Key Highlights: Legal Bites October 2022The Legal Rights of Orphan Children in IndiaIs there any...

Here are Legal Bites October 2022 monthly GK updates. The notable happenings of the months were related to the Swachh Survekshan Awards, Indian Air Force day, the Launch of 5G Service, the SupTech programme, and so on. We have covered all the happenings in the gist so that it helps the readers to remember all legal and current updates about October 2022 most efficiently and easily.

Key Highlights: Legal Bites October 2022

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 Legal Bites October 2022: Monthly Legal Updates

1. Launch of 5G Service

On October 1st, Prime Minister Modi officially launched 5G services, which offer high-speed, seamless coverage. With 5G technology, communications will be extremely dependable, with seamless coverage, high data rates, and low latency. Energy, spectrum, and network efficiency will all rise as a result. By 2035, it is anticipated that 5G will have a cumulative economic impact of $450 billion on India.

2. 2022 Swachh Survekshan Awards

On October 1st, The Swachh Survekshan Awards 2022 were delivered by Droupadi Murmu, the President of India. The cleanest city in India, according to the judgment, is Indore, followed by Surat and Navi Mumbai. In the category of best performing states for the "Swachh Survekshan Awards 2022," Madhya Pradesh came in first, followed by Chhattisgarh and Maharashtra.

3. GST Collection through October

As of October 1st, GST had collected Rs 1.47 lakh crore, up 26% from September: In the month of September 2022, gross GST income was Rs 1,47,686 crore. Integrated GST: Rs 80,464 crore (including Rs 41,215 crore collected on import of goods), State GST: Rs 31,813 crore, and Central GST: Rs 25,271 crore. Cess: Rs 10,137 crore (including Rs 856 crore collected on import of goods). In comparison to the same month last year, the GST collections for September 2022 are 26% higher.

4. National Pension System (NPS) Divas

On October 1st, PFRDA will observe National Pension System (NPS) Divas to promote pension and retirement planning among Indian residents. In order to promote pension and retirement planning for worry-free and Azad retiring, the Day was developed last year as a component of a Program. Every year on the specified date, PFRDA promotes this project via its social media outlets.

5. SIDBI and D&B will develop an MSME index to monitor enterprise adoption of ESG

On October 3rd, for establishing a quarterly SIDBI-D&B Sustainability Perception, SIDBI and data and analytics company Dun & Bradstreet signed an agreement of understanding (MoU). The index will be made available to policymakers in order to provide a quantitative assessment of the uptake of environmental, social, and corporate governance (ESG) practices among MSMEs and to encourage companies to incorporate ESG principles into their long-term business plans.

6. World Trade Organization forecasts a slowdown in global trade growth

On October 6th, The World Trade Organization has predicted a decrease in the growth of global trade for 2023.The desire for imports is being stifled by dramatically rising energy and food prices as well as rising interest rates. The survey predicted that the merchandise trade will grow by 3.5% in 2022–2023 instead of the 3% it was predicted to grow by in April. However, compared to the earlier prediction of 3.5%, it expects commerce to expand by just 1% in 2023.

7. RBI Launched a new "SupTech" programme

On October 7th, The Governor of the Reserve Bank of India, Shaktikanta Das, introduced a new "SupTech" programme called DAKSH. It will be the bank's most sophisticated system for monitoring the supervisory process and contribute to strengthening the supervisory procedures. A web-based end-to-end workflow application called DAKSH. With the use of this, RBI will focus its monitoring of compliance needs.

8. The World Bank lowers its estimate of India's growth to 6.5% for 2022–2023

On October 7th, the World Bank lowered its estimate of India's GDP growth for 2022–2023 from 7.5% to 6.5%. the consequences of the ongoing conflict in Ukraine, rising interest rates worldwide, and soaring inflation. The group has also underlined that the country's exports will be impacted by the lowering of the global market. RBI recently reduced the economic growth projection for the current fiscal to 7%.

9. RBI sets guidelines for internal ombudsman appointments

On October 8th, RBI published guidelines for internal ombudsman appointments for all credit information companies (CICs). It outlined the requirements, such as requiring each CIC to appoint the Internal Ombudsman for a set term of between three and five years. He must have at least seven years of experience in the banking industry and can be either a retired or active officer not below the rank of Deputy GM or equivalent.

10. Centre raises credit guarantee limit for the airline's sector

On October 8th, The credit guarantee cap for the airline industry has been increased by the central government. This modification was made to the emergency credit line guarantee scheme (ECLGS) for the aviation industry. The department increased the cheaper loan limit for the initiative from 400 crores to 1,500 crores. An airline would be qualified for 100% of its outstanding fund-based or non-fund-based loans under the new ECLGS, or $1,500 crores, whichever is less.

11. NASA's SpaceX Crew-5 launches to International Space Station

On October 8th, As part of the Crew-5 mission, SpaceX sent a crew of four astronauts to the International Space Station (ISS) from Launch Complex 39A at the Kennedy Space Center in Florida. As part of an exchange agreement between NASA and Roscosmos, SpaceX is launching a Russian cosmonaut for the first time on its spacecraft. NASA astronauts Nicole Mann and Josh Cassada, Koichi Wakata (JAXA), and Anna Kikina (Roscosmos cosmonaut) were aboard the Crew-5 trip

12. Pooja Patel won first-ever Gold in Yogasana

On October 8th, at the 36th National Games, Pooja Patel of Gujarat became the first athlete to win gold in Yogasana. One of the five sports that will be performed for the first time at the National Games in 2022 is yogasana. At the Khelo India University Games earlier this year, the ancient Indian sport of yoga made its debut.

13. Indian Air Force Day

On 8th October, Air force observed its Indian Air Force Day. The Indian Air Force (IAF) was formally founded on October 8th, 1932, as an adjunct air force of the British Empire, which gave India's World War II aviation service the prefix Royal.

14. Credit Guarantee Scheme for Startups

On 8th October, the Ministry of Commerce's Department for Promotion of Industry and Internal Trade (DPIIT) has announced the creation of the Credit Guarantee Scheme for Startups (CGSS). Credit guarantees will be given for loans made by Scheduled Commercial Banks, Non-Banking Financial Companies, and Alternative Investment Funds registered with the Securities and Exchange Board of India (SEBI).

15. EU passes world's first single charger rule

On October 9th, The European Parliament has passed the new rule to introduce single charging port for electronic gadgets by 2024 in the EU. According to the law, all smartphone, laptop, and camera manufacturers in Europe are required to use a common charger.

16. 2050 goal of net-zero emissions

On 10th October, the International Civil Aviation Organization of the UN set the aspirational aim of achieving net zero carbon emissions from air travel by 2050 in order to lessen the pollution brought on by airlines. This action might promote the creation of more environmentally friendly aircraft fuel.

17. India & Japan to advance scientific cooperation for Indian Ayurveda

On 10th October, All India Institute of Ayurveda (AIIA) and the National Institute of Advanced Industrial Science and Technology, Japan, have signed a Memorandum of Understanding (MoU) to develop scientific cooperation for Indian Ayurveda. This has been done to help academic institutions strengthen their technical capabilities.

18. Fifth Assembly of International Solar Alliance

On 11th October, the curtain raiser for the Fifth Assembly of the International Solar Alliance (ISA), which will take place in New Delhi from October 17–20, 2022, has been presented by Union Minister for Power and New and Renewable Energy, R.K. Singh. With 109 members and other signatory nations, the International Solar Alliance is a global organisation.

19. Government, LIC to sell 60.72% stake in IDBI Bank

On 11th October, the Indian government and LIC will sell their 60.72% ownership in the IDBI Bank. While LIC will sell 30.24% of its holdings, the Center will sell 30.48%. The Department of Investment and Public Asset Management (DIPAM) has asked prospective bidders to submit expressions of interest (EoI) for this. International Day of Girl Child 2022

20. International Day of the Girl Child

On October 11th, International Day of the Girl Child was observed to bring attention to the global gender inequalities that girls experience. "Our time is now - our rights, our future" is the theme for 2022. The United Nations General Assembly honoured this day for the first time on October 11, 2012.

21. Gujarat's Modhera becomes India's first 24x7 solar-powered village

On October 11th, Prime Minister Narendra Modi announced Gujarat's Modhera village to be the nation's first solar-powered village operating continuously. The Chalukyas constructed the Sun Temple in Modhera, which is famous today. The town includes a ground-mounted solar power plant, and over 1,300 homes have 1kW rooftop solar power systems installed to provide electricity.

22. Russia launches GLONASS-K satellite navigation system

On October 11th, GLONASS-K navigation system was launched by Russia from a cosmodrome up north of Moscow. The Russian GLONASS radio-based satellite navigation system will include the navigation satellite GLONASS-K. The GLONASS system has been developed by Russia at a cost of billions of dollars over the previous two decades.

23. BSE gets SEBI nod for social exchange

On October 11th, SEBI granted its in-principle approval to BSE for introducing a social stock exchange as a separate segment. On-profit organisation and for-profit social enterprises that are involved in 15 general social activities that have been approved by the market regulator may be listed on the social stock exchange. These nonprofit organisation can raise money by selling equity, zero-coupon, zero-principal bonds, money market investments, social impact funds, and development impact bonds.

24. Justice DY Chandrachud: 50th Chief Justice of India

On October 11th, 2022, Justice Dhananjaya Yeshwant Chandrachud is scheduled to become the 50th Chief Justice of India (CJI). Justice DY Chandrachud was proposed as the new Chief Justice of India by the outgoing CJI, U.U. Lalit, during a meeting with other Supreme Court justices.

25. Multi-State Cooperative Societies (Amendment) Bill, 2022

On October 11th, 2022, Recent amendments to the Multi-State Cooperative Societies Act, 2002 have been approved by the Union Cabinet. The Multi-State Cooperative Societies (Amendment) Bill, 2022, was approved by the Central Government. It incorporates India's 97th Constitutional Amendment, which granted cooperative societies constitutional recognition.

26. UN World Geospatial International Congress

On 12th October, the second United Nations World Geospatial International Congress (UNWGIC), which took place in Hyderabad, was addressed Prime Minister Narendra Modi. Geo-Enabling the Global Village: No One Should Be Left Behind being the topic of UNWGIC 2022. Intelligent maps and models that support the collection of geographically referenced data are made using geospatial technology. The Indian government's ministry of science and technology served as the event's host.

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27. Adani Ports is permitted by the NCLT to purchase the remaining 58.1% of Gangavaram Port

On 13th October, the National Company Law Tribunals (NCLT) have given the go-ahead for Adani Ports and Special Economic Zone Ltd (APSEZ) to purchase the remaining 58.1% of Gangavaram Port Limited (GPL). GPL is a versatile deep-water all-weather port. The diverse Adani group's premier transportation division is dealt through APSEZ. GPL is estimated at about Rs 6,200 crore in the deal.

28. RBI cancels the licence of Seva Vikas Co-operative Bank Limited

On 13th October, RBI has cancelled the license of Pune-based Seva Vikas Co-operative Bank due to Lack of adequate capital and earning prospects, with effect from October 10, 2022. As per the data submitted by the bank, about 99% of the depositors are entitled to receive the full amount of their deposits from DICGC.

29. PM-DevINE' for North-Eastern states

On 13th October, PM-DevINE, a Rs 6,600 crore Programme authorized by the Union Cabinet, will provide funding for infrastructural projects in the northeastern states. The Prime Minister's Development Initiative for the North East Region is referred to as PM-DevINE. It will be effective from 2022–2023 through 2025–2026 for the remaining four years of the 15th Finance Commission. The Ministry of Development of North Eastern Region will implement this 100% centrally funded Programme (DoNER).

30. SBI home loan AUM reaches Rs 6 trillion

On 13th October, State Bank of India (SBI) has surpassed Rs 6-trillion in Assets Under Management (AUM) in the home loan market, making it the first bank in the nation to do so. With regard to home loans, top-up loans, and loans against property, SBI is providing discounts of up to 0.25%, 0.15%, and 0.30%, respectively. Additionally, the bank has waived the processing fees for home loans on January 31.

31.  Google launches Play Points in India

|On 14th October, Google has introduced its Play Points rewards Programme in India. By using Google Play Store billing for in-app purchases, subscriptions, and the purchase of applications, games, movies, and eBooks, users can now earn points and incentives. This Programme was first introduced in 2018 and is now accessible in 28 additional nations. Google has provided full funding for this Programme.

32. International E-Waste Day

On October 14th, the International E-Waste Day was observed to increase public awareness of the effects of e-waste. The Waste Electrical and Electronic Equipment Recycling (WEEE) Forum first recognized this day in 2018. "Recycle it all, no matter how small!" is the theme for 2022.

33. Justice Magrey sworn-in as Chief Justice of J-K and Ladakh High court

On October 15th, the High Court of J&K and Ladakh's new Chief Justice, Justice Ali Mohammad Magrey, has been sworn in. Justice Pankaj Mithal, who was transferred to the Rajasthan high court, was replaced by him. After obtaining his law degree from Kashmir University in 1984, he began working as an advocate. In March 2013, he was appointed as a J&K High Court permanent judge.

34. Indo-US Vaccine Action Programme Joint Statement extended till 2027

On October 15th, the current Indo-US Joint Statement on the Vaccine Action Programme (VAP) has been extended till 2027. It's a one-of-a-kind bilateral initiative. Since July 1987, the National Institute of Allergy and Infectious Diseases (NIAID), National Institutes of Health (NIH), USA, and the Department of Biotechnology (DBT), India, have been carrying it out. The goal is to improve our understanding of vaccine research in order to improve the scientific foundation for developing new vaccines.

35. WTO slashes global 2023 trade growth forecast to 1% as recession looms

On October 16th, The World Trade Organization (WTO) reduced its earlier estimate of the growth of global trade volume to 1% from 3.4%, citing rising downside risks. However, the WTO increased its forecast for the growth of global merchandise trade for 2022 from its April estimate of 3% to 3.5%. The updated WTO predictions predict that the global GDP would increase by 2.8% in 2022 and 2.3% in 2023, respectively, with the latter figure being 0.1% lower than the previous expectation.

36. CRI Index 2022

On October 16th, As per the Commitment to Reducing Inequality Index 2022, India has ranked 123 out of 161 countries, improved its ranking by six places. India has reduced inequality but is among the lowest health spending performers. This report measures the government's policies and actions in three areas (health, education, and social protection).

37. Indo-US Vaccine Action Programme Joint Statement extended till 2027:

On October 15th, the current Indo-US Joint Statement on the Vaccine Action Programme (VAP) has been extended till 2027. It's a one-of-a-kind bilateral initiative. Since July 1987, the National Institute of Allergy and Infectious Diseases (NIAID), National Institutes of Health (NIH), USA, and the Department of Biotechnology (DBT), India, have been carrying it out. The goal is to improve our understanding of vaccine research in order to improve the scientific foundation for developing new vaccines.

38. World Green Cities Award 2022:

On 17th October, AIPH World Green City Awards 2022 was held at Jeju, South Korea. Hyderabad, the capital of Telangana, received the title of "World Green City Award 2022." In the category of "Living Green for Economic Recovery and Inclusive Growth," Hyderabad received the Telangana State's Green Garland award.

39. 90th General Assembly of INTERPOL

The International Criminal Police Organization's (INTERPOL) 90th General Assembly took place in New Delhi from October 18 to October 21, 2022. The General Assembly was held in India After 1997. In August 2019, HM Amit Shah suggested the same to Interpol Secretary General Jurgen Stock. To encourage potential cooperation between all criminal police authorities in the prevention and suppression of common law offences, India joined INTERPOL in 1949.

40. New BCCI President

On 17th October, the Board of Control for Cricket in India has named 67-year-old former cricketer Roger Binny as its new president. He has replaced Sourav Ganguly. The board's secretary Jay Shah has been reappointed.

41. 27th Controller General of Accounts

On 18th October, Bharati Das, a senior member of the Indian Civil Accounts Service (ICAS), has been named the 27th Controller General of Accounts (CGA). She has worked for the CBDT, the Ministry of External Affairs, and the Ministries of Home Affairs as the Principal Chief Controller of Accounts (Pr. CCA). CGA is "the Principal Advisor" to the Union Government on accounting-related issues.

42. Indus Waters Treaty: World Bank appoints chairman of the Court of Arbitration

On 20th October, regarding the design elements of the Kishenganga (330 megawatts) and Ratle (850 megawatts) hydroelectric power facilities, the World Bank chose an impartial expert and designated the chairman of the Court of Arbitration. Due to the 1960 Indus Water Treaty's disputes and tensions between India and Pakistan (IWT). The Neutral Expert has been named Michel Lino. The Court of Arbitration's Chairman has been named Sean Murphy.

43. CCI imposes Rs 392 crore penalties on MakeMyTrip, Goibibo, OYO

On 21st October, MakeMyTrip (MMT), Goibibo, and OYO were each fined more than 392 crores by the Competition Commission of India (CCI) for allegedly engaging in deceptive business practices. Make My Trip-Goibibo (MMT-Go) and OYO each faced fines of 223.48 crores and 168.88 crores from CCI, respectively. Since 2019, CCI has been looking into the firms in response to claims made by a hotel organisation that MMT treated Oyo preferentially on its platform.

44. 'Bima Sugam' portal approved by IRDAI

On 22nd October, the introduction of the Bima Sugam portal has recently been approved by the Insurance Regulatory and Development Authority of India (IRDAI). It is an online marketplace where all insurance providers can offer both life and non-life insurance on the same marketplace. Beginning on January 1, 2023, the portal will be operational. Brokers, banks, insurance agents, and aggregators like PolicyBazaar will serve as intermediaries or "bridges" to enable the sale of insurance products to individuals via Bima Sugam.

45. Cygnet to operate as NBFC account aggregator

On 22nd October, the Reserve Bank of India (RBI) has granted Cygnet, a fintech business in-principle, authorization to function as an account aggregator for non-banking financial companies (NBFCs). Account Aggregator is an open protocol for sharing financial data that is overseen by the RBI. Users can rapidly exchange their financial information with a variety of financial institutions.

46. CCI imposes Rs 936 crore penalty on Google for abuse of dominance

On October 26th, Google was fined another Rs. 936.44 crores by the Competition Commission of India (CCI) for abusing its dominant position in relation to its Play Store policy. Google has a monopoly in India on the markets for app stores for Android-based smart mobile devices and licensable mobile operating systems. Before this, CCI fined Google 1,337.76 crores for abusing its dominant position in a number of markets within the Android Mobile ecosystem.

47. IRDAI sets up Health Insurance Consultative Committee

On October 27th, in order to accomplish the country's goal of universal health insurance, the IRDAI established a 15-member Health Insurance Consultative Committee. For two years, the panel has been in place. Rakesh Joshi, an IRDAI member, will serve as the committee's chairman. He will be in charge of identifying the obstacles to a smooth operation of the health insurance industry and formulating suggestions to ease those obstacles.

48. Project WAVE

On October 28th, under "Project WAVE," Indian Bank introduced six new digital initiatives to improve customer experience through incorporated services on its digital platform. In collaboration with Universal Sompo General Insurance, the bank will offer online health and auto insurance through its mobile banking app, IndOASIS.

49. Dabur to acquire 51% stake in Badshah Masala:

On October 28th, in a deal of Rs. 587.52 crores, the FMCG company Dabur India announced that it will buy a 51% interest in Badshah Masala. While the remaining 49% of the equity stake will be purchased five years later. With this acquisition, Dabur India hopes to expand into new adjacent categories and grow its Food business to Rs 500 crore in three years.

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Mayank Shekhar

Mayank Shekhar

Mayank is an alumnus of the prestigious Faculty of Law, Delhi University. Under his leadership, Legal Bites has been researching and developing resources through blogging, educational resources, competitions, and seminars.

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