Russia becomes India's top oil supplier in October.

  • As per the data, Vortexa (Energy Cargo Tracker), Russia has surpassed Saudi Arabia and Iraq, to become the top oil supplier of India in October 2022.
  • Russia, which imported 0.2% of all oil by India in March 2022, has supplied 9,35,556 barrels per day of crude oil to India in October (highest ever).
  • It now makes up for 22% of India's total crude imports, ahead of Iraq (20.5%) and Saudi Arabia (16%).
  • In June 2022, Iraq was top oil supplier, while Russia was at second.

WTW Global Gender Wealth Equity report released.

  • According to 2022 Global Gender Wealth Equity report, published by WTW, on average women are expected to reach retirement with just 74% of the wealth that are accumulated by men.
  • Asia Pacific has one of the lower global wealth gaps on average for gender wealth equity.
  • The gender wealth gap is the largest in India at 64%.
  • Only 3% of women in the workforce occupying senior positions.
  • Women are expected to accumulate just over three-quarters (76%) of men’s wealth levels.

Indian Army registers IPR of new design and camouflage pattern uniform.

  • The Ministry of Defence has announced that the Indian Army has registered ‘Intellectual Property Rights (IPR)’ of the new design and camouflage pattern uniform.
  • The process for registration of Improved Combat Uniform was completed by the Controller General of Patents, Designs and Trademark, Kolkata.
  • With the IPR, the rights of design and camouflage pattern rests solely with the Indian Army.
  • Unauthorised manufacturer will be liable to face legal repercussions.

Indian Army approves five Make II projects.

  • Indian Army has approved project sanction orders of five Make II projects.
  • Aim: To provide an impetus to India's vision for self-reliance.
  • Projects: High-Frequency Man Packed Software Designed Radio, Drone Kill System, Infantry Training Weapon Simulator, 155mm Terminally Guided Munitions and Medium Range Precision Kill System.
  • These are industry-funded projects, that involves design, development and innovative solutions by Indian vendors for development of prototypes.

Vadodara issued first-ever municipal bond.

  • Vadodara has become the second Indian city to issue a municipal bond with assistance from the US Treasury Department’s Office of Technical Assistance.
  • Aim: To provide funds for infrastructure projects in Vadodara.
  • The officials from US Embassy and US Treasury joined counterparts from Ministry of Housing, city of Vadodara, and SEBI.
  • Pune was the first city to issue municipal bond in 2017.
  • The bond was oversubscribed by 10 times and was priced at a low yield of just 7.15%.

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