CURRENT
AFFAIRS SNIPPETS
05th
August 2022
National News
TRS to support Opposition candidate in
Vice-Presidential poll
TRS is set to support Opposition's candidate Margaret Alva for the
Vice-Presidential election, slated to be held on August 6. Alva filed her
nomination for the polls on July 19. On the other hand, NDA has fielded West
Bengal Governor Jagdeep Dhankhar as its candidate. Tenure of incumbent Vice
President M Venkaiah Naidu will end on August 10.
106-year-old college astronomy lab in Bihar
added to UNESCO heritage list
A 106-year-old astronomical observatory in Bihar has been added to
UNESCO's list of important endangered heritage observatories. The observatory,
established in Langat Singh College in Muzaffarpur in 1916, is reportedly the
first of its kind in eastern India. The college authorities said they're
hopeful the state government will take steps for conserving it after its
inclusion in UNESCO's list.
Quality Council collaborates with National Health Authority
In order to accredit and rate HMIS (Health Management Information System) and
LMIS (Laboratory Information Management System) solutions that have been
integrated with the Ayushman Bharat Digital Mission, the National Health
Authority (NHA) has onboarded the Quality Council of India (QCI) for six
months. The National Accreditation Board
for Hospitals and Healthcare Providers (NABH), a constituent board of QCI, is
in charge of national accreditation in the medical field, according to the
Union Ministry of Health and Family Welfare.
World’s largest floating solar power plant going to be built in Khandwa,
MP
The world’s largest floating solar power plant is going to be built at Khandwa
in Madhya Pradesh. With an aim to increase the power generation capacity of the
central state of Madhya Pradesh and address the electricity problems in the
region. A floating solar power plant is
going to be built in Khandwa which will generate 600 Megawatt power by 2022-23.
Appointments News
Ravinder Takkar named as Chairman of Vodafone Idea
Ravinder Takkar, the managing director (MD) and chief executive officer (CEO)
of telecom operator Vodafone Idea Limited (Vi), will replace Himanshu Kapania
as the telco's new chairman. He will
step down as non-executive chairman of the board with effect from 18 August
this month. However, he will continue to be a part of the VIL board as a
non-executive director.
Oil India named Ranjith Rath as new Chairman & MD
Ranjit Rath has taken over as the Chairman and Managing Director (CMD) of
state-run Oil India Ltd (OIL). He replaces Sushil Chandra Mishra who retired on
30 June. The newly appointed OIL CMD has
so far been associated with diverse roles spanning from strategy formulation,
business development and upstream asset management to the application of
geosciences and exploration geology in several important projects including the
creation of strategic petroleum reserves (SPR).
Fintech platform BharatPe named Nalin Negi as new CFO
Nalin Negi has been appointed as the new chief financial officer (CFO) of
Fintech startup BharatPe. Earlier he was the CFO of credit card issuer SBI
Card. In his new role, Negi will be
working towards making the company's EBITDA positive by March 2023 and leading
the financial readiness for the company, which is getting ready for an initial
public offering (IPO). Ebitda stands for
earnings before interest, taxes, depreciation, and amortization. He will report
to Suhail Sameer, CEO, BharatPe and work closely with the Board of BharatPe.
INTERNATIONAL
China summons Japanese, EU diplomats over
statements on Taiwan
China said it has summoned the Japanese ambassador and European
diplomats in the country to protest statements issued by the Group of Seven
(G7) nations and the European Union criticising Chinese military exercises
around Taiwan. Vice Foreign Minister Deng Li called the statements "erroneous"
and objected to "wanton interference in China's internal affairs",
the Chinese Foreign Ministry said.
China's military drills around Taiwan are
significant escalation: US
US Secretary of State Antony Blinken on Friday said that China's
military exercises around Taiwan, including missiles fired into Japan's
exclusive economic zone, represent a "significant escalation". China
launched the military drills following a visit by US House Speaker Nancy Pelosi
to Taiwan. Pelosi's visit was peaceful and did not represent a change in US
policy toward Taiwan, Blinken added.
China ending cooperation with US on multiple
issues after Pelosi's Taiwan visit
China has said it is ending cooperation with US on multiple issues after
US House Speaker Nancy Pelosi's visit to Taiwan. It has halted dialogue with US
on climate change, military issues and anti-drug work in retaliation for the
visit. China has also sanctioned Pelosi and her immediate family members over
the Taiwan visit.
Ready to discuss prisoner swap with US:
Russia after Griner's conviction
Russia's Foreign Minister Sergey Lavrov said Russia is ready to discuss
a prisoner swap with US through a diplomatic channel agreed upon by both
Presidents. "If...Americans decide to...again resort to public
diplomacy...it's their problem," he added. This comes a day after US
basketball player Brittney Griner was convicted of drug smuggling and sentenced
to nine years in a Russian prison.
US adds 5.28 lakh jobs in July, unemployment
rate falls to 3.5%
The US added 5.28 lakh jobs in July with the unemployment rate falling to
3.5%. The report comes days after the US government reported that job vacancies
across the country had dropped by 6.05 lakh to 1.07 crore by June-end. The
department also revised data for June, showing 3.98 lakh jobs created instead
of the previously reported 3.72 lakh.
France going through its most severe drought
ever, says PM Borne
France is facing the "most severe drought" ever recorded in
the country, French Prime Minister Élisabeth Borne warned in a statement on
Friday. Many areas in France are going through a "historic situation"
as the country endures its third heatwave this summer, she said. Borne
announced the activation of a government crisis unit due to the situation
Agreements News
NIESBUD tie-up with Hindustan Unilever Ltd to develop entrepreneurial
skills
National Institute for Entrepreneurship and Small Business Development
(NIESBUD) and Hindustan Unilever Limited (HUL) signed a memorandum of
understanding (MoU) for developing entrepreneurial skills among the youth and
identifying other aspects for mutual collaboration. The alliance will further enhance employment
generation and create sustainable livelihood opportunities, giving a major
boost to nano and micro-entrepreneurship advancement in the country.
Agreement Between NPCI and IIT Kanpur for Research Collaboration
A Memorandum of Understanding (MoU) between the National
Payments Corporation of India (NPCI) and the Indian Institute of
Technology (IIT), Kanpur, paves the way for the exchange of creative ideas and
collaboration on the creation of homegrown digital payment solutions. The collaboration will also aid in
strengthening cybersecurity safeguards for the goods and services provided
by NPCI and its affiliates. The MoU will
spur NPCI and IIT Kanpur to work together on a variety of
projects.
Amazon India signed an agreement with Indian Railways to boost
delivery
Amazon India has engaged with the Railway of India to boost its delivery
services in the country. Through this partnership, Amazon India will be able to
transport packages on more than 110 inter-city routes, ensuring one to two-day
delivery for its customer. Amazon began
working with the Indian Railways in 2019. The company has increased its
transportation lanes five-fold, it said.
Amazon is one of the enablers for the company to offer 1-day and 2-day
delivery promises to customers in the hinterlands of the country. It is now
working with Railways in more than 110 inter-city routes.
IOCL and Bangladesh ink MoU to supply emergency petroleum products
A Memorandum of Understanding (MoU) for the emergency delivery of petroleum
products via Bangladeshi territory to India was signed by the Indian Oil
Corporation Limited (IOCL) and the Bangladesh Roads and Highways department in
Dhaka. The Indian High Commission stated
in a tweet that this is an interim setup to help with the urgent supply of
petroleum products due to damage caused by the flood in Assam this year. Oil tankers will enter from Meghalaya and
travel into Bangladeshi territory on their way to Tripura. For use of
Bangladeshi land, the IOCL shall be responsible for paying all administrative
costs, fees, and local taxes, including the road usage fee.
BANKING, BUSINESS AND ECONOMY
Crypto exchange WazirX's bank assets worth
₹65 crore frozen by ED
ED has frozen bank assets worth ₹64.67 crore of Indian cryptocurrency
exchange WazirX following a search on the premises of its Director Sameer
Mhatre. ED said the action is for "assisting accused instant loan app
companies in laundering fraud money via purchase and transfer of virtual crypto
assets". The government earlier said ED is probing WazirX transactions
worth ₹2,790 crore.
4th RBI Monetary Policy review: Repo rate raised by 50 bps
The Reserve Bank of India has retained its retail inflation forecast for the
current fiscal year at 6.7 per cent. It has increased the policy repo rate
under the liquidity adjustment facility (LAF) by 50 basis points to 5.40 per
cent with immediate effect. RBI hiked
the policy repo rate for the third time in a row. The Reserve Bank of India’s
Monetary Policy Committee is headed by the Reserve Bank of India (RBI) Governor Shaktikanta
Das.
Consequently, the various rates are as under:
Policy Repo Rate: 5.40%
Standing
Deposit Facility (SDF): 5.15%
Marginal
Standing Facility Rate: 5.65%
Bank
Rate: 5.65%
Fixed
Reverse Repo Rate: 3.35%
CRR:
4.50%
SLR:
18.00%
India's
Trade Deficit At Record High: 31 billion Dollar
India’s trade deficit widened to a record $31.02 billion in July, as imports of
goods surged despite curbs and merchandise exports contracted for the first
time in 20 months. July merchandise
exports declined by 0.76% from a year ago to $37.24 billion, while imports grew
44% to $66.26 billion during the month because of high commodity prices and a
weak rupee, data released by the ministry of commerce and industry showed. Trade deficit is said to take place when
the imports done by a country exceed that of the exports done by a country in a
fiscal year.
Defence News
India-US Armies to hold mega military exercise “Yudh Abhyas” in
Uttarakhand’s Auli
The Indian Army and the US Army will conduct the 18th edition of the
fortnight-long mega military exercise “Yudh Abhyas” from October 14 to 31,
2022, at Auli in Uttarakhand. The
exercise is aimed at enhancing understanding, cooperation and interoperability
between the two armies. The previous edition of the exercise took place in
Alaska, the US, in October 2021. The
exercise is aimed at enhancing understanding, cooperation and interoperability
between the armies of India and the US. The
"Yudh Abhyas" exercise is taking place in the backdrop of India's
lingering border row with China in eastern Ladakh.
Summits and Conferences News
IDF World Dairy Summit 2022 to be held in New Delhi
International Dairy Federation World Dairy Summit (IDF WDS 2022), is scheduled
to be held in New Delhi from September 12. India will look to improve its per
animal milk productivity by drawing lessons from advanced nations. Currently, the world’s largest milk producer
with about 210 million tonnes of production per year, India lags behind many
advanced countries in dairy productivity.
This, according to dairy sector leaders, will be a key takeaway for the
country from the Summit that has a theme of “livelihood and nutrition”.
India to host special meeting of UN SC Counterterrorism Committee
In October, India will host diplomats from the UN Security Council's 15 member
countries for a special counterterrorism meeting. India's two-year term as an
elected non-permanent member of the UN Security Council is halfway over. In
December of this year, India's term on the Council will come to a close, and
for that month, it will also serve as President of the influential UN body. India will welcome diplomats from the
15-nation Security Council, including the US, China, and Russia, for the
special meeting of the Security Council Counter-Terrorism Committee in October.
Sports News
Deepak Punia defeats Pakistan's Inam to win
India's 3rd gold medal of the day at CWG 2022
Indian wrestler Deepak Punia defeated Pakistan's Muhammad Inam to bag a
gold medal in the men's freestyle 86 kg category at CWG 2022. Deepak won the
gold medal in his first-ever CWG. India have bagged three gold medals in
wrestling at CWG 2022 today. Overall, India have bagged nine gold medals at CWG
2022.
Commonwealth
Games 2022: Sudhir won the gold medal in men's heavyweight para powerlifting
Sudhir claimed the gold medal in the men’s heavyweight para powerlifting event
at the Commonwealth Games 2022. Sudhir, an Asian Para Games bronze medallist,
lifted 208kg in his first attempt before increasing it to 212kg in his second
effort to gather 134.5 points and break the Games record. Ikechukwu Christian Obichukwu won the silver
with 133.6 points, while Micky Yule bagged the bronze with 130.9 points. The 27-year-old Sudhir, who has an impairment
due to the effects of polio, thus opened India’s para sports medal account in
the ongoing CWG.
Obituaries News
Former Australian boxing world champion Johnny Famechon passes away
Former Australian featherweight boxing world champion Johnny Famechon has
passed away. He was 77. He was associated with professional boxing for more
than 20 years and had a record of 56 wins, which includes 20 by knockout, six
draws and five losses. The Australian
boxer’s most memorable world title victory was his WBC points decision win
against Cuban Jose Legra at London’s Albert Hall in 1969. Famechon boxed
professionally for more than 20 years and had a record of 56 wins, 20 by
knockout, six draws and five losses.
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