1. Senior officials of IMF and WB to attend annual meet at Lima, Peru

(i) Starting today, the senior officials of the International Monetary Fund (IMF) and World Bank (WB) will attend a three-day meet in Lima, Peru which will conclude on October 11. 

(ii) The main

subjects of discussions are challenges facing the world economy, ways to combat illicit

financial flows, private investment in renewable energy, structural reforms, among others.

(iii) Finance ministers, central bankers and executives from private sectors are also expected to deliberate on refugee crisis in Europe, and also the situation in Greece and Ukraine among other issues.

2. IMF released Global Financial Stability Report October 2015 

(i) On October 6, 2015, the International Monetary Fund (IMF) released the Global

Financial Stability Report October 2015 titled Vulnerabilities, Legacies, and Policy

Challenges-Risks Rotating to Emerging Markets.

(ii) The report assesses the major

risks facing the global financial system and points out that despite financial

stability, risks continue to exist in emerging markets.

(iii) According to the report, while credit has seen an expansion in countries like China, Thailand, Turkey and Brazil, bank finances have, “stretched thinner in many emerging markets”. A strengthening dollar has also made the situation worse for businesses with foreign currency debts as they need to be repaid in national currency terms.

3. Hoesung Lee to head Intergovernmental Panel on Climate Change (IPCC)

(i) On October 8, Recently South Korean climate economist and sustainable development expert

Hoesung Lee was elected to head the UN’s Intergovernmental Panel on Climate

Change. He was elected by 78 votes to 56 in a run-off election with Belgian Jean-Pascale van Ypersele.

(ii) He will replace Rajendra Pachauri of India, who quit in February 2015 over sexual harassment allegations. 

(iii) Lee is a professor and has previously served as vice-chairman of the IPCC since 2008.

4 . Axis bank ties up with Snapdeal to advance collateral free loans

(i) On October 7, Axis Bank tied up with Snapdeal to offer collateral free loans to sellers in the online market place. 

(ii) The bank has stated that the loan offers have been designed

to enable sellers, who are mostly SMEs, to scale up inventory. The loans will range from

Rs.2 lakhs to Rs.1 crore and will be disbursed till October 31.

5. Belarusian Svetlana Alexievich wins Noble Prize in Literature

(i) On October 8, Sara Danius, permanent secretary at the Swedish Academy announced that Belarusian author Svetlana Alexievich won the Noble Prize in literature. 

(ii) She was given the prize for her ‘polyphonic writings, a monument to suffering and courage in our time.’

(iii) With this she became the 14th woman to have won the literature prize, and one among the few who have won Nobel for non-fiction work.

6. The book Courage to Act: A Memoir of Crisis and its Aftermath released 

(i) In October 2015, the former chairman of the US Federal Reserve Ben S

Bernanke released his book titled Courage to Act: A Memoir of a Crisis and its

Aftermath.

(ii) Bernanke, headed the US’s central bank from 2006-

2014 and was at the centre of the bank’s response to the 2008 financial crisis and

the subsequent recession. The book is a personal and detailed account of the

events that ensued as he witnessed it.

7. Indian football team loses to Turkmenistan 

(i) Indian football team lost to Turkmenistan 1-2 in the 2018 FIFA World Cup qualifiers. 

(ii) India thus slumped to their fourth straight defeat, remaining at the bottom of the group D points table thereby having no chance to qualify for the Asian Cup. 

(iii) The two goals in the Turkish team were scored by Gubanch Abylov and Arslanmynat Amanov and Jeje Lalpeklhuamade scored India’s first goal in the 28th minute.

8. South Africa won the 3 match T20 series against India 

(i) In the recently concluded three-match T20 series, South Africa won against India, scoring 2-0.

(ii) The third match which was held in Kolkata’s Eden gardens was called off due to rains.

(iii) The first match was played on October 2, at Himachal Pradesh Cricket Association Stadium wherein South Africa won by 7 wickets. In the second match held on September 5, in Odisha at Barabati Stadium South Africa won by 6 wickets and third match at Kolkata was called off. 

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