BankBazaar appoints former RBI Deputy Governor S S Mundra as advisor

  • BankBazaar has appointed former RBI Deputy Governor (DG) S S Mundra as an advisor.
  • BankBazaar is an online financial services marketplace.
  • Mundra was a deputy governor at the RBI for three years till July 2017.
  • Mundra’s expertise is expected to help drive paperless and presence-less financing by the company in India.

Govt launches ‘Swastha Bharat Yatra’ campaign to create awareness about food safety

  • The Indian government launched a national campaign called ‘Swasth Bharat Yatra’ on World Food Day, October 16th.
  • The FSSAI (Food Safety and Standards Authority of India) is leading a campaign to create consumer awareness about eating safe and nutritious food.
  • Around 7,500 cyclists will participate in an 18,000km relay cycle rally covering almost every state and UT.
  • They will be promoting the message ‘Eat Right India’.

RBI issues guidelines for payments across different mobile wallets

  • The Reserve Bank of India (RBI) has released operational guidelines to facilitate payments among prepaid instruments (PPI) such as mobile wallets.
  • The guidelines include requirements for achieving inter-operability for mobile wallets and cards, and norms for customer protection and grievance redressal.
  • Inter-operability will allow payments to be made across systems.
  • Currently, mobile wallets don’t allow customers to send or receive money from a wallet run by a different company.

Govt to form GoM to look into gaps in sexual harassment law

  • The government is set to form a group of ministers to look into the lacunae in the existing law on sexual harassment.
  • This comes on the back of the growing #MeToo movement in India.

Govt working on new WTO-compliant export incentive scheme to replace MEIS

  • The commerce ministry is working on a new export incentive scheme for merchandise shipments which is compliant with the World Trade Organization to replace the existing MEIS.
  • Currently, exporters of goods avail of incentives under the Merchandise Exports from India Scheme (MEIS), in which the government provides duty benefits depending on product and country.
  • The WTO is a 164 member body based in Geneva, which frames rules and norms for global exports and imports.

China tests world’s largest unmanned transport drone with 1.5tn payload capacity

  • China has successfully tested the world’s largest unmanned transport drone, which can carry a maximum payload of 1.5 tonnes.
  • The commercial drone is called the Feihong-98 (FH-98) and is developed and modified by the China Academy of Aerospace Electronics Technology.
  • It is adapted from the prototype of the Shifei Y5B, a transport plane developed by China.

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