1. Senior officials of IMF and WB to attend annual meet at Lima, Peru
(i) Starting today, the senior officials of the International Monetary Fund (IMF) and World Bank (WB) are to attend an annual three day meet in Lima, Peru which will conclude on October 11.
(ii) The three day meet will address the current challenges facing the world economy, including issues concerning illicit financial flows, private investment in renewable energy, structural reforms and managing the volatility of commodity revenues.
(iii) The finance ministers, central bankers and executives from private sectors are expected to deliberate on refugee crisis in Europe, and also the situation in Greece and Ukraine among other issues.
2. IMF released Global Financial Stability Report October 2015
(i) On October 6, the International Monetary Fund (IMF) released Global Financial Stability Report October 2015 entitled Vulnerabilities, Legacies, and Policy Challenges-Risks Rotating to Emerging Markets assessing the key risks facing global financial system.
(ii) The report pointed that though financial stability has improved since April, risks looms high especially now the danger has shifted to the emerging economies.
(iii) According to the report, while credit has seen an expansion in countries, like China, Thailand, Turkey and Brazil, bank finances have, "stretched thinner in many emerging markets". A strengthening dollar has also made the situation worse for businesses with foreign currency debts since the debts need to be repaid in national currency terms.
3. Hoesung Lee to head inter-governmental panel on climate change
(i) On October 8, South Korean climate economist Hoesung Lee was elected to head the UN's climate change panel. He was elected in the 42nd session IPCC in Dubrovnik, Croatia by 78 votes to 56 in a run-off election with Belgian Jean-Pascale van Ypersele.
(ii) He is to replace Rajendra Pachauri of India, who quit in February 2015 over allegations of sexual harassment.
(iii) Lee is a professor and has previously served as vice-chairman of the Intergovernmental Panel on Climate Change (IPCC) since 2008 and has been engaged in various capacities with IPCC.
4 . Axis bank ties up with Snapdeal to advance collateral free loans
(i) On September 7, Axis Bank tied up with Snapdeal to offer collateral free loans to sellers in the online market place.
(ii) Axis Bank said that the loan offers are especially designed to enable sellers who are mostly SMEs to scale up inventory. The loans, which will be extended will be ranging from Rs. 2 lakhs to Rs. 1 crore till October 31.
5. Belarus Journalist Svetlana Alexievich announced as the winner of Noble Prize in Literature
(i) On October 8, Sara Danius, permanent secretary at the Swedish Academy announced that Belarusian author Svetlana Alexievich won the Noble Prize in literature.
(ii) As per the press release on nobelprize. org she was awarded for her 'polyphonic writings, a monument to suffering and courage in our time.'
(iii) With this she became the 14th woman to have won the literature prize, and one among the few who have won Nobel for their non fiction work.
6. The book Courage to Act: A memoir of crisis and its aftermath released
(i) Recently, the former chairman of Federal Reserve Ben S Barke recently released his book titled, Courage to Act: A memoir of crisis and its aftermath, published by W.W. Norton & Company.
(ii) Ben S Barke was the chairman at the Federal Reserve from 2006 - 2014 and he was at the centre of the Federal Bank's repossess to the global financial crisis, the book serves as a personal account of the events that ensued as he witnessed it.
7. Indian football team loses to Turkmenistan
(i) Indian football team lost to Turkmenistan 1-2 in the 2018 FIFA World Cup qualifiers.
(ii) India thus slumped to their fourth straight defeat, remaining at the bottom of the group D points table thereby having no chance to qualify for the Asian Cup.
(iii) The two goals in the Turkish team were scored by Gubanch Abylov and Arslanmynat Amanov and India's Jeje Lalpeklhuamade India's first goal in the 28th minute.
8. South Africa won the 3 match T20 series against India
(i) In the recently concluded three match T20 International series, South Africa won against India, scoring 2-0.
(ii) The third match which was held in Kolkata's Eden gardens was called off as the umpires found it not suitable for a game.
(iii) The first match was played on October 2, at Himachal Pradesh Cricket Association Stadium wherein South Africa won by 7 wickets, in the second match held on September 5, in Odisha at Barabati Stadium South Africa won by 6 wickets and third match at Kolkata was called off.
(i) Starting today, the senior officials of the International Monetary Fund (IMF) and World Bank (WB) are to attend an annual three day meet in Lima, Peru which will conclude on October 11.
(ii) The three day meet will address the current challenges facing the world economy, including issues concerning illicit financial flows, private investment in renewable energy, structural reforms and managing the volatility of commodity revenues.
(iii) The finance ministers, central bankers and executives from private sectors are expected to deliberate on refugee crisis in Europe, and also the situation in Greece and Ukraine among other issues.
2. IMF released Global Financial Stability Report October 2015
(i) On October 6, the International Monetary Fund (IMF) released Global Financial Stability Report October 2015 entitled Vulnerabilities, Legacies, and Policy Challenges-Risks Rotating to Emerging Markets assessing the key risks facing global financial system.
(ii) The report pointed that though financial stability has improved since April, risks looms high especially now the danger has shifted to the emerging economies.
(iii) According to the report, while credit has seen an expansion in countries, like China, Thailand, Turkey and Brazil, bank finances have, "stretched thinner in many emerging markets". A strengthening dollar has also made the situation worse for businesses with foreign currency debts since the debts need to be repaid in national currency terms.
3. Hoesung Lee to head inter-governmental panel on climate change
(i) On October 8, South Korean climate economist Hoesung Lee was elected to head the UN's climate change panel. He was elected in the 42nd session IPCC in Dubrovnik, Croatia by 78 votes to 56 in a run-off election with Belgian Jean-Pascale van Ypersele.
(ii) He is to replace Rajendra Pachauri of India, who quit in February 2015 over allegations of sexual harassment.
(iii) Lee is a professor and has previously served as vice-chairman of the Intergovernmental Panel on Climate Change (IPCC) since 2008 and has been engaged in various capacities with IPCC.
4 . Axis bank ties up with Snapdeal to advance collateral free loans
(i) On September 7, Axis Bank tied up with Snapdeal to offer collateral free loans to sellers in the online market place.
(ii) Axis Bank said that the loan offers are especially designed to enable sellers who are mostly SMEs to scale up inventory. The loans, which will be extended will be ranging from Rs. 2 lakhs to Rs. 1 crore till October 31.
5. Belarus Journalist Svetlana Alexievich announced as the winner of Noble Prize in Literature
(i) On October 8, Sara Danius, permanent secretary at the Swedish Academy announced that Belarusian author Svetlana Alexievich won the Noble Prize in literature.
(ii) As per the press release on nobelprize. org she was awarded for her 'polyphonic writings, a monument to suffering and courage in our time.'
(iii) With this she became the 14th woman to have won the literature prize, and one among the few who have won Nobel for their non fiction work.
6. The book Courage to Act: A memoir of crisis and its aftermath released
(i) Recently, the former chairman of Federal Reserve Ben S Barke recently released his book titled, Courage to Act: A memoir of crisis and its aftermath, published by W.W. Norton & Company.
(ii) Ben S Barke was the chairman at the Federal Reserve from 2006 - 2014 and he was at the centre of the Federal Bank's repossess to the global financial crisis, the book serves as a personal account of the events that ensued as he witnessed it.
7. Indian football team loses to Turkmenistan
(i) Indian football team lost to Turkmenistan 1-2 in the 2018 FIFA World Cup qualifiers.
(ii) India thus slumped to their fourth straight defeat, remaining at the bottom of the group D points table thereby having no chance to qualify for the Asian Cup.
(iii) The two goals in the Turkish team were scored by Gubanch Abylov and Arslanmynat Amanov and India's Jeje Lalpeklhuamade India's first goal in the 28th minute.
8. South Africa won the 3 match T20 series against India
(i) In the recently concluded three match T20 International series, South Africa won against India, scoring 2-0.
(ii) The third match which was held in Kolkata's Eden gardens was called off as the umpires found it not suitable for a game.
(iii) The first match was played on October 2, at Himachal Pradesh Cricket Association Stadium wherein South Africa won by 7 wickets, in the second match held on September 5, in Odisha at Barabati Stadium South Africa won by 6 wickets and third match at Kolkata was called off.
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