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Important Current Affairs for CLAT-26th October 2023

Updated: Oct 27, 2023

United Nations Day 2023 celebrates on 24 October

United Nations Day, observed on October 24th each year, commemorates the anniversary of the entry into force of the UN Charter in 1945. This momentous occasion officially marked the establishment of the United Nations, a global organization unparalleled in its legitimacy, convening power, and normative impact. This article delves into the history and significance of United Nations Day and the enduring importance of the UN in today’s world.

As we celebrate United Nations Day on October 24, we reflect on the enduring significance of the UN in a world that continues to grapple with diverse challenges. This day provides an opportunity to reaffirm our commitment to the principles and purposes of the UN Charter and to recognize the potential of global cooperation in shaping a brighter future for all. The United Nations, with its rich history and enduring mission, stands as a beacon of hope and a catalyst for positive change on the global stage.

History of United Nations Day

Founding the United Nations

On October 24, 1945, the United Nations came into existence as the UN Charter was ratified by a majority of its signatories, including the five permanent members of the Security Council. This historic event set the stage for a global organization dedicated to promoting peace, security, cooperation, and international development.

Promoting the Aims and Achievements

Just two years later, in 1947, the United Nations General Assembly declared the Charter of the United Nations as a tool for “making known to the people of the world the aims and achievements of the United Nations.” The purpose was not only to inform but also to garner support from people worldwide for the organization’s vital work.

International Observance

In 1971, the United Nations took a significant step by adopting Resolution 2782, designating United Nations Day as an international observance. This resolution further suggested that member states of the UN should consider recognizing October 24 as a public holiday to emphasize the importance of the organization in shaping a better world.

The Ongoing Relevance of the United Nations

Legitimacy and Convening Power

The United Nations stands as a unique global entity, unparalleled in its legitimacy and convening power. It provides a platform for countries to come together, discuss, and collaborate on issues of global significance, from climate change to international conflicts. Its universal membership ensures representation for all nations.

Normative Impact

The UN wields significant normative impact through the development and promotion of international laws, principles, and standards. It sets the moral compass for international relations, championing principles such as human rights, humanitarianism, and sustainable development.

Hope for a Better World

For millions around the world, the United Nations is a beacon of hope. It symbolizes the collective efforts of nations to create a safer, fairer, and more sustainable future. In a world faced with numerous challenges, the UN remains a source of inspiration, offering solutions and unity in times of crisis.

The Urgency of Unity

In today’s complex global landscape, the urgency for countries to unite under the principles of the UN Charter has never been greater. Issues such as climate change, global health crises, and regional conflicts require multilateral solutions. The United Nations serves as a critical forum for fostering collaboration and addressing these pressing challenges.

Key Static:

  • United Nations Founded: 24 October 1945, San Francisco, California, United States;

  • United Nations Headquarters: New York, New York, United States;

  • United Nations Founders: United States, Brazil, United Kingdom, India, France, Iran;

  • United Nations Secretary general: António Guterres.

Gaza City: Amidst Adversity, Resilience Persists

Gaza City, the largest city in the Gaza Strip, is a focal point of the Israeli-Palestinian conflict. It’s a densely populated urban center that has been the site of numerous conflicts and tensions over the years. Despite its challenges, the city remains a hub of Palestinian culture, commerce, and resilience, with a diverse population and a rich history.

Gaza City is located along the Mediterranean coast and serves as the administrative and economic center of the Gaza Strip. While it has faced many difficulties due to the ongoing conflict, its people continue to exhibit remarkable strength and determination in the face of adversity. The city is home to various markets, educational institutions, and cultural landmarks that reflect its enduring significance in the region.

What is happening in Gaza?

The United Nations has issued a stark warning about the critical humanitarian situation in Gaza. While around 34 trucks carrying essential supplies like food, water, and medical aid were permitted to enter through the Rafah border crossing from Egypt over the weekend, this only addresses a fraction of the needs of the people in Gaza. Typically, the region receives 400 to 500 truckloads of supplies every day. The UN’s agency for Palestinian refugees, Unrwa, has raised concerns about limited access to clean water, which has heightened worries about dehydration and waterborne diseases.

The conflict has led to a significant displacement of people, with an estimated 1.4 million individuals in Gaza being displaced. Many moved from the north to the south, following guidance from the Israeli military for their safety. The population increase in southern cities like Khan Younis has strained resources, leading to overcrowded living conditions and makeshift shelters. However, Israel has continued to conduct strikes on what it identifies as Hamas military targets in the southern Gaza area. Some of those who initially fled the north are returning due to the difficult situation in the south. The World Health Organization has also pointed out the challenges in evacuating patients from hospitals in northern Gaza.

Gaza Patti Area

Gaza Area in Km

The Gaza Strip is 41 km (25 mi) long, from 6 to 12 km (3.7 to 7.5 mi) wide, and has a total area of 365 km2 (141 sq mi). It has a 51 km (32 mi) border with Israel, and an 11 km (7 mi) border with Egypt, near the city of Rafah.

International Stuttering Awareness Day 2023 Observed On 22 October

International Stuttering Awareness Day is a global event that takes place annually on October 22nd, dedicated to raising awareness about stuttering, a speech disorder characterized by disruptions in fluency. This day serves as an opportunity for organizations worldwide to come together and educate the public about the challenges faced by individuals dealing with stuttering.

The 2023 Theme: “One Size Does NOT Fit All”

This year, the theme for International Stuttering Awareness Day is “One Size Does NOT Fit All.” It underscores the idea that each person with a stutter experiences life differently and faces unique challenges on a daily basis. Stuttering is not a one-size-fits-all condition.

Understanding Stuttering

Stuttering is a speech disorder characterized by involuntary word repetition, temporary difficulties in producing sounds or words, and interruptions in fluency. It can result in physical strain and anxiety about speaking, making effective communication a challenge for those who stutter. There are different types and levels of stuttering, and it affects approximately 1% of the global population.

Stuttering in Children

Around 5% of children experience a period of stuttering, with approximately 80% of them naturally outgrowing it. For those who continue to stutter into their school-age years, the likelihood of lifelong stuttering increases. Notably, males are more likely to stutter than females, with a male-to-female ratio of roughly 4 to 1 in adults and 2 to 1 in children.

The Significance of International Stuttering Awareness Day

International Stuttering Awareness Day plays a crucial role in educating people about this complex condition and addressing the diverse needs and circumstances of individuals who stutter. With over 70 million people worldwide struggling with stuttering, it emphasizes that a one-size-fits-all approach is not suitable for everyone.

History of International Stuttering Awareness Day

The day was established by the International Stuttering Association (ISA) as a proactive response to the challenges faced by people who stutter. The initiative gained momentum when Michael Sugarman, co-founder of the National Stuttering Project, championed the cause for worldwide stuttering awareness at the International Fluency Association (IFA) conference in 1997. The ISA, IFA, and European League of Stuttering Associations jointly proclaimed October 22nd as Stuttering Awareness Day in 1998.

Common Myths about Stuttering

Despite advancements in understanding stuttering, myths and misconceptions still exist. Some of these include:

  • People stutter because they are nervous: Stuttering is a neurological disorder, not solely caused by anxiety.

  • People who stutter are shy and self-conscious: Stuttering does not determine a person’s confidence or personality.

  • Stuttering is psychological: Stuttering has a neurological basis, not just a psychological one.

  • People who stutter are less intelligent or capable: Stuttering does not correlate with intelligence or ability.

  • Stuttering is caused by emotional trauma: Stuttering is a neurological condition and not the result of emotional trauma.

Israel And Palestine War Reasons

The Israel-Palestine conflict, one of the most protracted and contentious disputes in modern history, has its roots in a complex web of historical, religious, and political factors. This article delves into the multifaceted reasons behind the conflict, highlighting key events, grievances, and ongoing tensions that have characterized this decades-long struggle for land and sovereignty.

The Israel-Palestine conflict is a deeply entrenched and multifaceted dispute that defies simple solutions. Its historical, territorial, religious, and political dimensions continue to stoke tensions and pose significant challenges to regional and global stability. As efforts to resolve the conflict persist, it is crucial to acknowledge the complexity of the issue and work towards a just and lasting solution that respects the rights and aspirations of both Israelis and Palestinians.

Historical Context

British Mandate for Palestine

The conflict’s origins can be traced back to the end of World War I when the British Mandate for Palestine was established. The Balfour Declaration of 1917 expressed British support for the establishment of a “national home for the Jewish people” in Palestine.

Arab-Jewish Clashes

Tensions escalated as waves of Jewish immigrants settled in Palestine, leading to clashes with the Arab population. These early conflicts laid the groundwork for the animosity that persists to this day.

Territorial Disputes

The 1947 UN Partition Plan

The United Nations proposed a partition plan in 1947 that aimed to divide Palestine into separate Jewish and Arab states. This plan was accepted by Jewish leaders but rejected by Arab leaders, leading to further hostilities.

1948 Arab-Israeli War

The declaration of the State of Israel in 1948 triggered a war with neighboring Arab states. Israel expanded its territory, leading to the displacement of hundreds of thousands of Palestinian Arabs.

Refugee Crisis

Palestinian Refugees

The 1948 conflict resulted in the creation of Palestinian refugee populations who were forced to leave their homes. The Palestinian refugee issue remains a central point of contention in the conflict.

Religious Significance


Jerusalem holds immense religious significance for both Jews and Muslims. Control over East Jerusalem, where holy sites are located, remains a major point of contention.

Settlements and Occupation

Israeli Settlements

Israel’s construction of settlements in the West Bank and East Jerusalem has been a major source of tension. These settlements are considered illegal under international law and are seen as an obstacle to peace.

Security Concerns

Terrorism and Conflict

Ongoing violence, including suicide bombings and rocket attacks, has further deepened mistrust. Israel’s concerns about security have shaped its policies in the region.

Failed Peace Initiatives

Oslo Accords

The Oslo Accords of the 1990s aimed at establishing a framework for peace and Palestinian self-governance. Despite initial promise, the Oslo process eventually stalled and did not lead to a final resolution.

International Diplomacy

Role of International Mediators

Various international actors, including the United States, have tried to mediate the conflict. The international community has struggled to find a lasting solution to the Israel-Palestine conflict.

Humanitarian Consequences

Human Rights Abuses

Both sides have been accused of human rights abuses, including restrictions on movement and access to basic services. These abuses have garnered international condemnation.

The Future of the Conflict

Ongoing Tensions

The Israel-Palestine conflict remains far from resolution, with deep-seated animosities and distrust. Ongoing tensions periodically erupt into violence, making a peaceful solution seem elusive.

RBI Imposes ₹2.5 Crore Penalty On L&T Finance For Non Compliance

The Reserve Bank of India (RBI) has recently taken regulatory action against L&T Finance Limited by imposing a monetary penalty of ₹2.50 crore (Rupees Two crore Fifty lakh only) on the company. This decision comes in the wake of a statutory inspection of L&T Finance Limited, which covered its financial position as of March 31, 2021, and March 31, 2022.

RBI’s Action Against L&T Finance for Non-Compliance

According to a press release issued by the RBI, this penalty has been levied due to non-compliance with specific provisions of the Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016.

Background of the RBI’s Decision

The RBI’s decision to impose a monetary penalty on L&T Finance Limited follows a comprehensive statutory inspection that assessed the company’s financial position as of two key dates, March 31, 2021, and March 31, 2022. This inspection included an examination of various reports and correspondence related to the company’s operations.

Identified Deficiencies in Compliance

During the statutory inspection, several deficiencies in compliance were identified by the RBI. These issues pertained to the company’s practices in dealing with its retail borrowers. Some of the key deficiencies included:

Failure to Inform Retail Borrowers: L&T Finance Limited failed to inform its retail borrowers about the risk gradation and the rationale behind different interest rates applied to various borrower categories in loan application forms or sanction letters.

Lack of Notification for Changes in Penal Interest Rates: The company did not notify borrowers when there were changes in penal interest rates, especially when these rates were higher than initially communicated.

Non-Disclosure of Changes in Loan Terms and Conditions: The company failed to provide notice of changes in loan terms and conditions when charging an annualized interest rate higher than what was communicated at the time of sanction.

RBI’s Notice to L&T Finance Limited

In response to the identified deficiencies, the RBI issued a notice to L&T Finance Limited. This notice requested the company to provide reasons why a penalty should not be imposed for non-compliance with the RBI directions. The notice initiated a process for L&T Finance Limited to provide explanations and defenses against the alleged non-compliance.

Evaluation of Company’s Response

L&T Finance Limited responded to the RBI’s notice, providing explanations and defenses against the alleged non-compliance. The RBI meticulously evaluated the company’s response, along with additional submissions and oral statements made during a personal hearing.

Monetary Penalty Imposed

After careful consideration of the company’s response and evidence presented, the RBI determined that there was a substantiated charge of non-compliance with the RBI directions. Therefore, the imposition of a monetary penalty of ₹2.50 crore was deemed appropriate to address this non-compliance.

Regulatory Action Clarification: Focusing on Compliance and Customer Fairness

It is crucial to note that this regulatory action is primarily focused on addressing deficiencies in compliance and should not be construed as a judgment on the validity of any transactions or agreements between L&T Finance Limited and its customers. The RBI’s objective is to ensure that financial institutions adhere to the prescribed guidelines and directions, maintaining transparency and fairness in their dealings with customers.

HDFC Bank Unveils XpressWay Digital Platform for Swift Loans

HDFC Bank, a leading financial institution, has introduced its cutting-edge digital platform, XpressWay, to streamline and expedite its banking products and services. This innovation empowers customers to enjoy a more rapid and hassle-free banking experience.

Diverse Product Offerings:

XpressWay offers a comprehensive range of banking services tailored to meet the diverse needs of its customers. These services include:

  1. Xpress Personal Loan: Quick and convenient personal loans.

  2. Xpress Business Loans: Speedy financing solutions for businesses.

  3. Xpress Car Loan: Swift and efficient car loans.

  4. Xpress Home Loan: Expedited home loan application and approval processes.

  5. Xpress Loan on Cards: Instant loan offerings tied to credit cards.

  6. Xpress Credit Card: Accelerated credit card services.

  7. Xpress Savings Accounts: Faster account opening and management.

  8. Service Journeys and More: Additional services designed for a seamless banking experience.

Key Features:

XpressWay is designed to provide customers with a host of key features, making banking more efficient and customer-centric:

  • Speedy and Seamless: Customers can expect faster processing times and an effortless banking journey.

  • Paperless Transactions: Reducing the environmental footprint and streamlining processes.

  • DIY Customer Experience: Empowering customers with self-service options for convenience.

  • Accessibility for All: Available for both existing and new customers.

Part of HDFC Bank ‘NOW’:

XpressWay is an integral component of HDFC Bank’s ‘NOW,’ an umbrella brand encompassing the bank’s digital products and services. This initiative represents the bank’s commitment to embracing digital solutions for its customers’ benefit.

RBL Bank Introduces GO Savings Account

RBL Bank, a prominent player in the Indian banking sector, has announced the launch of its cutting-edge digital banking product, the GO Savings Account. This account introduces a novel subscription-based model, which combines simplicity and high-value benefits for customers seeking modern banking solutions.

Key Advantages of the GO Savings Account

  • High-Interest Rates: Customers can enjoy high-interest rates of up to 7.5% per annum, making their savings work harder for them.

  • Zero-Balance Account: The account comes with the convenience of a zero-balance requirement, ensuring accessibility for a wide range of customers.

  • Premium Debit Card: GO Account holders receive a premium debit card, enhancing their payment and transaction capabilities.

  • Vouchers and Perks: Subscribers gain access to vouchers worth Rs. 1,500 for premier brands, making their spending more rewarding.

  • Comprehensive Insurance Coverage: The account includes comprehensive cyber insurance cover, accident insurance, and travel insurance, providing valuable protection and peace of mind. The coverage extends up to Rs. 1 crore.

  • CIBIL Report: Customers receive a free CIBIL report, enabling them to monitor and improve their creditworthiness.

  • Premium Banking Services: The GO Savings Account offers an array of premium banking services, simplifying financial management and transactions.

Subscription Model

  • Affordable Subscription: This innovative account follows a subscription-based model, with a first-year subscription fee of Rs. 1999 + taxes. Subsequent annual renewals are available at a fee of Rs. 599 + taxes.

Easy Account Opening Process

  • Streamlined Account Opening: The account opening process has been streamlined to allow customers to open an account within minutes. All that is required are PAN and Aadhaar details, minimizing the hassle.

  • Fee-Free Transactions: GO Account holders benefit from fee-free transactions, making everyday banking more cost-effective.

A Bridge Between Traditional and Digital Banking

Deepak Gaddhyan, Head of Branch and Business Banking at RBL Bank, expressed, “The launch of ‘GO Savings Account’ bridges the gap between traditional and digital banking by offering a compelling value proposition for customers. With our user-friendly account opening experience bundled with the new-age subscription-based model and services thereon, we aim to bring digital convenience to a larger customer segment.”


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