Current Affairs in Short: 11 October 2022

Oct 11, 2022, 17:20 IST

Finance Minister Nirmala Sitharaman will visit the United States to attend the annual meetings of the World Bank and the International Monetary Fund.

Current Affairs in Short

Prime Minister Narendra Modi emphasized the need for an institutional approach by the international community while addressing the UN World Geospatial International Congress.
The 2nd United Nations World Geospatial International Congress is being held in Hyderabad and is organized by the United Nations and the Departments of Science and Technology and Space.
The five-day Congress has brought policymakers, start-ups, scientists, and NGOs working on geospatial information to a single platform to deliberate about the challenges and make future plans.
While referring to how technology helps the welfare of the people, Prime Minister Modi said that 450 million unbanked people were brought under the banking net and 135 million people were given insurance.

India has received the fourth tranche of information on the financial accounts from Switzerland since the two countries entered into an Automatic Exchange of Information (AEOI) agreement in 2018.
The annual exchange between the countries allows them to verify whether the taxpayers have correctly declared their financial accounts abroad in their tax returns.
India received the name addresses, Taxpayer Identification Numbers and account numbers, and account balances of each reportable person.
The exercise by the Swiss Authorities is strictly meant for ‘tax only’ purposes and the date in India is kept in the custody of and for action by the Central Board of Direct Taxes (CBDT).

India voted to reject Russia’s call to hold a secret ballot at the United Nations General Assembly (UNGA) on a draft resolution to condemn Russia’s attempted illegal annexation of the four regions in Ukraine.
The UNGA meeting started with a procedural vote on a measure that Russia had flagged, proposing that the Ukrainian draft resolution being debated, be voted on by a secret ballot, not through a public vote.
A resolution condemning Russia’s annexation of four Ukrainian regions was up for adoption at the United Nations General Assembly, where the 193 UN members vote and no one wields a veto.
A Ukrainian envoy said that voting for the draft resolution would be for each country, for each of our citizens, for your families, for our children- a vote for justice.

Finance Minister Nirmala Sitharaman will visit the United States to attend the annual meetings of the World Bank and the International Monetary Fund.
She will be visiting the country from October 11 to October 16, 2022, and will participate in bilateral meetings with several countries including South Korea, Japan, New Zealand, and UAE, among others.
The Finance Minister will also meet US Treasury Secretary Janet Yellen and the World Bank President David Malpass separately to discuss the issues of mutual respect.