- Dinesh Kumar Khara has assumed charge as the new Chairman of State Bank of India, the country’s largest lender. He has taken over from Rajnish Kumar, who superannuated on October 7, 2020. One of his top priorities would be to maintain the quality of the loan book.
- India’s economy is expected to contract by 9.6 percent in the current fiscal year (2020-21) because of the Covid-19 pandemic, the World Bank said on October 8, 2020. India’s economy is the largest in South Asia.
- The Gujarat government on October 8, 2020, launched phase 1 of the ‘Digital Seva Setu’ programme for the rural areas. Under this, 3500 village panchayats in the state have been connected by 100 Mbps optical fiber network, it will further facilitate the online availability of public services.
- Union Minister of Textiles Smriti Irani launched the first-ever brand and logo for India’s premium cotton on the occasion of Second World Cotton Day on October 7, 2020 through video conferencing. The Indian cotton will now be known to the world by the name ‘Kasturi Cotton’.
- Bangladesh has stated that it will accept only the WHO recognised COVID 19 vaccines for use in the country. This was announced by Bangladesh Cabinet Secretary Khandaker Anwarul Islam during a media briefing on October 7, 2020.
- The Central Asian nation of Kyrgyzstan slid deeper into chaos on October after rival opposition factions made grabs for power. The Kyrgyz Central Election Commission had earlier declared the results of the parliamentary elections held on October 4 as void, amid violent protests.
- The Union Cabinet under the chairmanship of Prime Minister Narendra Modi on October 7, 2020, approved the signing of the Memorandum of Cooperation in the field of cyber-security between India and Japan.
- World Cotton Day (WCD) is observed globally on October 7. The day was established in 2019. The International day aims to celebrate the advantages of cotton, ranging from its qualities as a natural fiber to the benefits people obtain from its production, transformation, trade and consumption.
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