{"id":120169,"date":"2022-09-29T12:39:36","date_gmt":"2022-09-29T07:09:36","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=120169"},"modified":"2022-09-29T12:39:38","modified_gmt":"2022-09-29T07:09:38","slug":"current-affairs-for-competitive-exam-29-september-2022","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/current-affairs-for-competitive-exam-29-september-2022\/","title":{"rendered":"Current Affairs for Competitive Exam by Gkseries \u201329 September 2022"},"content":{"rendered":"\n<p>Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That\u2019s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post,\u00a0Daily Current Affairs 29 September 2022, we have tried to cover each and every point and also included all important facts from National\/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Current Affairs for Competitive Exam \u2013 29 September 2022<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.gkseries.com\/blog\/india-and-maldives-signed-mou-hanimaadhoo-international-airport\/\" target=\"_blank\" rel=\"noreferrer noopener\">India and Maldives signed MoU Hanimaadhoo International Airport<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.gkseries.com\/blog\/wp-content\/uploads\/2022\/09\/India-and-Maldives-signed-MoU-Hanimaadhoo-International-Airport.jpg\" alt=\"India and Maldives signed MoU Hanimaadhoo International Airport\"\/><\/figure>\n\n\n\n<p><strong>India and Maldives signed MoU Hanimaadhoo International Airport:<\/strong> Government of&nbsp;Maldives&nbsp;has signed an&nbsp;MoU with the Indian JMC Projects&nbsp;for&nbsp;Maldives Hanimaadhoo International Airport Development Project.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-september-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">September 2022 Current Affairs Quiz<\/a><\/p>\n\n\n\n<p>The worth of project is about\u00a0USD $136.6 million. It was confirmed that the project will be\u00a0financed by India\u2019s Exim Bank. The Maldives govt is expected to\u00a0build a 2.46 kilometer runway\u00a0in addition to a terminal that can serve 1.3 million passengers annually. The construction work is expected to be\u00a0fully operational by the year 2024.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.gkseries.com\/blog\/hardeep-singh-puri-launched-special-aviation-fuel-avgas-100-ll\/\" target=\"_blank\" rel=\"noreferrer noopener\">Hardeep Singh Puri launched special aviation fuel, AVGAS 100 LL<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.gkseries.com\/blog\/wp-content\/uploads\/2022\/09\/Hardeep-Singh-Puri-launched-special-aviation-fuel-AVGAS-100-LL.jpg\" alt=\"Hardeep Singh Puri launched special aviation fuel, AVGAS 100 LL\"\/><\/figure>\n\n\n\n<p><strong>Hardeep Singh Puri launched special aviation fuel, AVGAS 100 LL: <\/strong>In an event, hosted by IndianOil at Hindon Airforce Station,&nbsp;Minister of Petroleum and Natural Gas &amp; Housing and Urban, Affairs Hardeep Singh Puri&nbsp;has launched&nbsp;AVGAS 100 LL.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-september-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">September 2022 Current Affairs Quiz<\/a><\/p>\n\n\n\n<p>AVGAS 100 LL:\u00a0It is a special aviation fuel meant for piston engine aircrafts and unmanned aerial vehicles. With this launch,\u00a0IndianOil has become the first oil marketing company (OMC)\u00a0to produce and market, AVGAS 100 LL. Currently India is importing AVGAS 100 LL from European countries.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.gkseries.com\/blog\/asha-parekh-will-be-conferred-with-2022-dadasaheb-phalke-award\/\" target=\"_blank\" rel=\"noreferrer noopener\">Asha Parekh will be conferred with 2022 Dadasaheb Phalke award<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.gkseries.com\/blog\/wp-content\/uploads\/2022\/09\/Asha-Parekh-will-be-conferred-with-2022-Dadasaheb-Phalke-award.jpg\" alt=\"Asha Parekh will be conferred with 2022 Dadasaheb Phalke award\"\/><\/figure>\n\n\n\n<p><strong>Asha Parekh will be conferred with 2022 Dadasaheb Phalke award: <\/strong>Veteran actor, Asha Parekh (79)&nbsp;will be awarded the highest recognition in the field of Indian cinema,&nbsp;Dada&nbsp;Saheb Phalke award for 2020. She will receive the award from President Droupadi Murmu at the&nbsp;68th National Film Awards&nbsp;on September 30.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-september-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">September 2022 Current Affairs Quiz<\/a><\/p>\n\n\n\n<p>She was conferred the\u00a0Padma Shri in 1992. She also became the\u00a0first women to head the Central Board of Film Certification from 1998-2001. The Dadasaheb Phalke Award was\u00a0instituted in 1969\u00a0and it was\u00a0first presented to Devika Rani.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.gkseries.com\/blog\/english-translation-of-lata-sur-gatha-to-release-in-january-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">English translation of \u2018Lata: Sur-Gatha\u2019 to release in January 2023<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.gkseries.com\/blog\/wp-content\/uploads\/2022\/09\/English-translation-of-\u2018Lata.jpg\" alt=\"English translation of \u2018Lata: Sur-Gatha\u2019 to release in January 2023\"\/><\/figure>\n\n\n\n<p><strong>English translation of \u2018Lata: Sur-Gatha\u2019 to release in January 2023:<\/strong> The&nbsp;English translation&nbsp;of award-winning&nbsp;book \u201cLata: Sur-Gatha\u201d will be released in January 2023. The book has been translated by&nbsp;noted writer and translator Ira Pande. The announcement has been made by&nbsp;Penguin Random House India (PRHI).<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-september-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">September 2022 Current Affairs Quiz<\/a><\/p>\n\n\n\n<p>This book was\u00a0originally written in Hindi by writer-poet, Yatindra Mishra. The book has also\u00a0won the 64th National Film Award and the MAMI Award for Best Writing on Cinema (2016\u201317).<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.gkseries.com\/blog\/govt-appoints-rajendra-kumar-as-director-general-of-esic\/\" target=\"_blank\" rel=\"noreferrer noopener\">Govt appoints Rajendra Kumar as Director General of ESIC<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.gkseries.com\/blog\/wp-content\/uploads\/2022\/09\/Govt-appoints-Rajendra-Kumar-as-Director-General-of-ESIC.jpg\" alt=\"Govt appoints Rajendra Kumar as Director General of ESIC\"\/><\/figure>\n\n\n\n<p><strong>Govt appoints Rajendra Kumar as Director General of ESIC:<\/strong> IAS officer of TN cadre, 1992-batch,&nbsp;Rajendra Kumar&nbsp;has been appointed the&nbsp;director general of the Employees\u2019 State Insurance Corporation (ESIC). He is currently an additional secretary in the Ministry of Electronics and Information Technology.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-september-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">September 2022 Current Affairs Quiz<\/a><\/p>\n\n\n\n<p><strong>Other appointments:<\/strong><\/p>\n\n\n\n<p>T Natarajan\u00a0has been appointed as an\u00a0additional secretary in the Department of Economic Affairs. V Hekali Zhimomi\u00a0has been appointed as\u00a0additional secretary in the Department of Health and Family Welfare.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.gkseries.com\/blog\/adb-provides-14-billion-support-for-food-security-in-asia-pacific\/\" target=\"_blank\" rel=\"noreferrer noopener\">ADB provides $14 billion support for food security in Asia Pacific<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.gkseries.com\/blog\/wp-content\/uploads\/2022\/09\/ADB-provides-14-billion-support-for-food-security-in-Asia-Pacific.jpg\" alt=\"ADB provides $14 billion support for food security in Asia Pacific\"\/><\/figure>\n\n\n\n<p><strong>ADB provides $14 billion support for food security in Asia Pacific: <\/strong>The&nbsp;Asian Development Bank (ADB)&nbsp;has announced plans to provide at least&nbsp;$14 billion&nbsp;to&nbsp;Asia-Pacific for 2022\u20132025.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-september-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">September 2022 Current Affairs Quiz<\/a><\/p>\n\n\n\n<p>Reason:&nbsp;To ease a worsening food crisis and improve long-term food security by strengthening food systems due to climate change.<\/p>\n\n\n\n<p>Use of fund:\u00a0The funding will be channeled through existing and new projects in sectors including farm inputs, food production and distribution, social protection, irrigation, and water resources management.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.gkseries.com\/blog\/drdo-successful-tests-of-very-short-range-air-defence-system-missiles\/\" target=\"_blank\" rel=\"noreferrer noopener\">DRDO successful tests of Very Short Range Air Defence System Missiles<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.gkseries.com\/blog\/wp-content\/uploads\/2022\/09\/DRDO-successful-tests-of-Very-Short-Range-Air-Defence-System-Missiles.jpg\" alt=\"DRDO successful tests of Very Short Range Air Defence System Missiles\"\/><\/figure>\n\n\n\n<p><strong>DRDO successful tests of Very Short Range Air Defence System Missiles: <\/strong>DRDO&nbsp;has conducted successful&nbsp;test flights of Very Short Range Air Defence System (VSHORADS) missiles&nbsp;at the Integrated Test Range,&nbsp;Chandipur, Odisha. It is a&nbsp;Man Portable Air Defence System&nbsp;that is&nbsp;designed and developed by DRDO\u2019s Research Centre Imarat, Hyderabad&nbsp;in collaboration with other DRDO facilities.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-september-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">September 2022 Current Affairs Quiz<\/a><\/p>\n\n\n\n<p>Use:&nbsp;To neutralize low-altitude aerial threats at short ranges.<\/p>\n\n\n\n<p>The design of the missile including the launcher has been highly optimized to ensure\u00a0easy portability.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.gkseries.com\/blog\/crown-prince-mohammed-bin-salman-named-prime-minister-of-saudi-arabia\/\" target=\"_blank\" rel=\"noreferrer noopener\">Crown Prince Mohammed bin Salman named prime minister of Saudi Arabia<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.gkseries.com\/blog\/wp-content\/uploads\/2022\/09\/Crown-Prince-Mohammed-bin-Salman-named-prime-minister-of-Saudi-Arabia.jpg\" alt=\"Crown Prince Mohammed bin Salman named prime minister of Saudi Arabia\"\/><\/figure>\n\n\n\n<p><strong>Crown Prince Mohammed bin Salman named prime minister of Saudi Arabia:<\/strong> Crown Prince Mohammed bin Salman&nbsp;has been appointed the&nbsp;prime minister of Saudi Arabia&nbsp;by the King Salman bin Abdulaziz. He is&nbsp;already de facto ruler&nbsp;of the Saudi Arabia. Previously, he has&nbsp;served as the deputy prime minister as well as defence minister. He is being&nbsp;replaced as defence minister by his younger brother, Khalid bin Salman, who was deputy defence minister.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-september-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">September 2022 Current Affairs Quiz<\/a><\/p>\n\n\n\n<p>Saudi Arabia\u2019s Capital: Riyadh;&nbsp;<\/p>\n\n\n\n<p>Currency: Saudi riyal<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.gkseries.com\/blog\/government-launched-jaldoot-app-for-groundwater-tables\/\" target=\"_blank\" rel=\"noreferrer noopener\">Government launched Jaldoot app for groundwater tables<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.gkseries.com\/blog\/wp-content\/uploads\/2022\/09\/Government-launched-Jaldoot-app-for-groundwater-tables.jpg\" alt=\"Government launched Jaldoot app for groundwater tables\"\/><\/figure>\n\n\n\n<p><strong>Government launched Jaldoot app for groundwater tables:<\/strong> Faggan Singh Kulaste (MoS for Rural Development and Steel)&nbsp;has launched the&nbsp;JALDOOT App and e-brochure.<\/p>\n\n\n\n<p>Developed by:&nbsp;Ministry of Rural Development and Panchayati Raj.<\/p>\n\n\n\n<p>Use:&nbsp;To capture the water level of selected 2-3 wells in a village.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-september-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">September 2022 Current Affairs Quiz<\/a><\/p>\n\n\n\n<p>The manual monitoring of water levels in open wells will be measured twice in a year\u00a0(pre-monsoon and post-monsoon level for the same well). Assigned officers will measure the water levels and upload the geo-tagged photographs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.gkseries.com\/blog\/kumar-sanu-shailendra-singh-anand-milind-will-get-lata-mangeshkar-award\/\" target=\"_blank\" rel=\"noreferrer noopener\">Kumar Sanu, Shailendra Singh, Anand-Milind will get Lata Mangeshkar Award<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.gkseries.com\/blog\/wp-content\/uploads\/2022\/09\/Kumar-Sanu-Shailendra-Singh-Anand-Milind-will-get-Lata-Mangeshkar-Award.jpg\" alt=\"Kumar Sanu, Shailendra Singh, Anand-Milind will get Lata Mangeshkar Award\"\/><\/figure>\n\n\n\n<p><strong>Kumar Sanu, Shailendra Singh, Anand-Milind will get Lata Mangeshkar Award: <\/strong>Kumar Sanu and Shailendra Singh (Playback singers) and Anand-Milind&nbsp;(music-composer duo) will be conferred with the&nbsp;National Lata Mangeshkar Award for different years. The prestigious award will be presented on&nbsp;September 28 (birth anniversary of the late legendary singer) at her birthplace Indore.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-september-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">September 2022 Current Affairs Quiz<\/a><\/p>\n\n\n\n<p>Shailendra Singh\u00a0will be given the Lata Mangeshkar Award for\u00a02019. While\u00a0Anand-Milind\u00a0will be conferred with the honour for\u00a02020. Kumar Sanu\u00a0will be given the award for\u00a02021.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.gkseries.com\/blog\/ministry-of-home-affairs-bans-pfi-and-its-associates-for-five-years\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ministry of Home Affairs bans PFI and its associates for five years<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.gkseries.com\/blog\/wp-content\/uploads\/2022\/09\/Ministry-of-Home-Affairs-bans-PFI-and-its-associates-for-five-years.jpg\" alt=\"Ministry of Home Affairs bans PFI and its associates for five years\"\/><\/figure>\n\n\n\n<p><strong>Ministry of Home Affairs&nbsp;bans PFI and its associates:&nbsp;<\/strong> Days after law enforcement agencies launched a <strong>nationwide crackdown against the Popular Front of India<\/strong>, and the Centre Wednesday <strong>banned the PFI<\/strong> and its affiliates for five years.<\/p>\n\n\n\n<p>Invoking the Unlawful Activities (Prevention) Act to effect the ban, the Ministry of Home Affairs said the PFI and its affiliates are linked to terror groups like the ISIS, propagate \u201canti-national sentiments\u2026 radicalize a particular section of society with the intention to create disaffection\u201d and constitute a \u201cmajor threat to internal security of the country\u201d.<\/p>\n\n\n\n<p><strong>Ministry of Home Affairs Bans PFI and its Associates: Key Points<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Centre also mentioned, they also promote \u201canti-national sentiments\u2026 radicalise a particular section of society with the intention of creating disaffection.\u201d<\/li><li>The MHA designated the Popular Front of India (PFI) as a \u201cunlawful association\u201d along with \u201cits associates or affiliates or fronts including Rehab India Foundation (RIF), Campus Front of India (CFI), All India Imams Council (AIIC), National Confederation of Human Rights Organization (NCHRO), National Women\u2019s Front, Junior Front, Empower India Foundation, and Rehab Foundation, Kerala,\u201d claiming that it was \u201cnecessary to curb the nefarious activities\u201d of the organisation.<\/li><li>The SDPI, the PFI\u2019s political wing, was excluded from the ban.<\/li><li>After the ban, the&nbsp;<strong>Popular Front of India (PFI)<\/strong>&nbsp;made an announcement that it was breaking apart.<\/li><li>The PFI and its affiliates\u2019 designation as \u201cunlawful associations\u201d gives law enforcement organisations the right to detain PFI members, freeze their accounts, and seize their assets.<\/li><\/ul>\n\n\n\n<p><strong>Section 10 of the UAPA:<\/strong><\/p>\n\n\n\n<p>According to Section 10 of the UAPA, membership in a banned organisation is illegal. According to the Section 10 of the UAPA, belonging to an organisation that is prohibited carries a minimum two-year sentence and, in some cases, a life sentence or even the death penalty.<\/p>\n\n\n\n<p>According to Section 10, anyone who \u201cis and continues to be a member of such association; participates in such association\u2019s meetings; contributes to, receives, or solicits any contribution for the benefit of such association; or in any other manner assists the operations of such association shall be punishable with imprisonment for a term which may extend to two years, and shall also be liable to fine.\u201d Anyone who supports the goals of the prohibited organisation is likewise subject to it. Section 7 of the UAPA\u2019s grants the government the authority to \u201cprohibit use of funds\u201d by an \u201cillegal group.\u201d<\/p>\n\n\n\n<p><strong>Power of the Central Government as per the law:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>According to the law, if the Central Government is satisfied following an investigation that \u201cany person has custody of any moneys, securities, or credits which are being used or are intended to be used for the purpose of the unlawful association, the Central Government may, by order in writing, prohibit such person from paying, delivering, transferring, or otherwise dealing in any manner.\u201d<\/li><li>Centre has the power as per the law to ban the person if found with such moneys, securities, or credits or with any other moneys, securities, or credits.<\/li><li>It also grant law enforcement organisations the authority to conduct searches of these organisations\u2019 offices and inspect their financial records.<\/li><li>The Center is authorised to \u201cnotify any place which in its opinion is used for the purpose of such unlawful organisation\u201d under Section 8 of the UAPA.<\/li><li>The term \u201cplace\u201d in this context refers to a home, a building, or a portion of one, as well as to a tent or a vessel.<\/li><\/ul>\n\n\n\n<p><strong>Popular Front of India: About<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The&nbsp;<strong>Popular Front of India (PFI)<\/strong>, is an Indian Muslim political organisation.<\/li><li>It is an extreme and exclusivist brand of Muslim minority politics is practised.<\/li><li>It was created to oppose Hindutva groups, and on September 28, 2022, the Indian Ministry of Home Affairs imposed a 5-year ban on it under the Unlawful Activities (Prevention) Act (UAPA).<\/li><\/ul>\n\n\n\n<p><strong>When PFI is established?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Popular Front of India (PFI) was established in 2006 as a result of the union of the National Development Front (NDF) and the Karnataka Forum for Dignity (KFD).<\/li><li>As a \u201cneo-social movement committed to empowering people to promote justice, freedom, and security,\u201d the organisation identified itself.<\/li><\/ul>\n\n\n\n<p><strong>What does the Popular Front of India (PFI) do?<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>It promotes accommodations for Muslims. The group staged demonstrations in 2012 in opposition to the purported detention of innocent people under the UAPA statute.<\/li><li>The Indian government has frequently accused PFI of taking part in anti-social and anti-national activities.<\/li><li>The Keralan government asserted in 2012 that the group was a revival of the Indian Mujahideen affiliate Students Islamic Movement of India (SIMI), a terrorist organisation that had been outlawed.<\/li><li>In some areas of Kerala and Karnataka, PFI and the Rashtriya Swayamsevak Sangh (RSS) have frequently engaged in violent confrontations.<\/li><li>Indian authorities have discovered activists in possession of deadly weapons such as explosives, ammunition, and swords.<\/li><li>The Popular Front of India has been accused of having ties to terrorist groups like the Taliban and Al-Qaeda on a number of occasions.<\/li><li>The Chairman of PFI is OMA Abdul Salam and the Vice Chairman of Popular Front of India (PFI) is E.M Abdul Rahiman.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.gkseries.com\/blog\/bse-receives-sebis-final-approval-to-launch-egr-on-its-platform\/\" target=\"_blank\" rel=\"noreferrer noopener\">BSE Receives SEBI\u2019s Final Approval to Launch EGR on its Platform<\/a><\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.gkseries.com\/blog\/wp-content\/uploads\/2022\/09\/BSE-Receives-SEBIs-Final-Approval-to-Launch-EGR-on-its-Platform.jpg\" alt=\"BSE Receives SEBI\u2019s Final Approval to Launch EGR on its Platform\"\/><\/figure>\n\n\n\n<p><strong>BSE Receives SEBI\u2019s Final Approval to Launch EGR on its Platform: <\/strong>Leading stock exchange BSE on Monday said it has received the final approval from the capital markets regulator Sebi for introducing the Electronic Gold Receipt (EGR) on its platform. This comes after the BSE received in-principle approval from the Securities and Exchange Board of India (Sebi) in February, after which the exchange conducted several mock trading sessions in the test environment for its members to facilitate trading in EGRs.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.gkseries.com\/blog\/category\/daily-quiz\/daily-quiz-september-2022\/\" target=\"_blank\" rel=\"noreferrer noopener\">September 2022 Current Affairs Quiz<\/a><\/p>\n\n\n\n<p><strong>What Is EGR:<\/strong><\/p>\n\n\n\n<p>The instruments representing gold will be called EGRs and will be notified as securities, with trading, clearing and settlement features similar to other securities that are currently available in India. Sebi board had earlier cleared a proposal for gold exchange, wherein the yellow metal will be traded in the form of&nbsp;EGRs and will help in having a transparent domestic spot price discovery mechanism. India currently has trading only in gold derivatives and gold ETFs, unlike several other countries which have spot exchanges for physical trade in gold.<\/p>\n\n\n\n<p><strong>What The BSE Said:<\/strong><\/p>\n\n\n\n<p>According to BSE,&nbsp;EGRs will cater to all market participants, which means that buyers and sellers on the exchange shall include individual investors, as well as commercial participants along the value chain like importers, banks, refiners, bullion traders, jewellery manufacturers, and retailers.<\/p>\n\n\n\n<p>Sameer Patil, chief business officer, BSE, said, \u201cWe are extremely thankful to Sebi for giving us the final approval and confidence that we will be able to launch the trading in EGR soon, as gold holds special significance for Indian households. BSE is confident, that the EGR platform will lead to greater assurance in the quality of gold supplied, efficient price discovery, and transparency in transacting. This can create a vibrant gold ecosystem in India by enabling actual fungibility of gold, which is the need of the hour.\u201d<\/p>\n\n\n\n<p><strong>India\u2019s Position:<\/strong><\/p>\n\n\n\n<p>India is the second-largest consumer of gold globally&nbsp;with annual gold demand of approximately 800-900 tonnes and holds an important position in the global markets. BSE is working with all depositaries and vaults to ensure the development of the entire ecosystem around&nbsp;EGR trade including depositaries, vault managers, traders, bullion dealers, and jewellers&nbsp;so that EGRs will go a long way in building a transparent channel for gold trade on a national institutionalized platform.<\/p>\n\n\n\n<p>India has remained a price-taker in the global markets, and at present, does not play any significant role in influencing the price-setting for the commodity. A platform for EGR infuses transparency in gold spot transactions, enables India to emerge as the price setter, and would eliminate existing market inefficiencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That\u2019s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post,\u00a0Daily Current Affairs 29 September 2022, we have tried to cover each and every point and also included all [&hellip;]<\/p>\n","protected":false},"author":894,"featured_media":120191,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4926],"tags":[1475],"class_list":["post-120169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-september-2022","tag-daily-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/120169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=120169"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/120169\/revisions"}],"predecessor-version":[{"id":120192,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/120169\/revisions\/120192"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/120191"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=120169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=120169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=120169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}