KARNATAKA FEDERAL ECGC IBPS CURRENT AFFAIRS AUGUST 6 2022

 

CURRENT AFFAIRS SNIPPETS

06th August 2022

 

 

NATIONAL NEWS

Jagdeep Dhankhar elected 14th Vice-President of India

NDA candidate Jagdeep Dhankhar has been elected as the 14th Vice-President of India after defeating Opposition's candidate Margaret Alva. Dhankhar, who has served as Governor of West Bengal in the past, is a lawyer by training and belongs to Rajasthan's Jhunjhunu. The term of office of M Venkaiah Naidu, Vice-President of India, is ending on August 10.

 

Supreme Court to look into changing abortion law to include unmarried women

The Supreme Court said it will interpret the Medical Termination of Pregnancy (MTP) Act and the related rules to potentially allow unmarried women to terminate pregnancies up to 24 weeks. Asking the Centre to file a note by the next hearing on August 10, SC asked why unmarried women should be barred from ending pregnancies if married women are allowed.

PM Modi meets Jagdeep Dhankhar, says 'proud to have Kisan Putra VP'

Prime Minister Narendra Modi paid a visit to Jagdeep Dhankhar on Saturday to congratulate him soon after the latter was elected as India's Vice President. In a statement, PM Modi said, "We are proud to be having a Kisan Putra Vice President who has excellent legal knowledge and intellectual prowess." BJP President JP Nadda also met Dhankhar following his victory.

 

Uttarakhand govt decides to develop one Sanskrit-speaking village in each district 

Uttarakhand government has decided to develop one Sanskrit-speaking village in each of the 13 districts in the state. Citizens of these villages will be trained by experts to use the ancient Indian language as a medium of daily communication, Uttarakhand’s Minister for Sanskrit Education.  Sanskrit teachers will be sent to the selected villages to teach locals how to communicate in the language. They will also be taught the Vedas and the Puranas to help them acquire proficiency in Sanskrit. To be called ”Sanskrit Gram”, each of these villages will be a centre of ancient Indian culture.

Haryana government developed the Cheerag programme for EWS Students 

The "Chief Minister Equal Education Relief, Assistance and Grant (Cheerag)" programme was recently introduced by the administration of Haryana Chief Minister Manohar Lal Khattar.  It was put in lieu of a comparable programme started by the Bhupinder Singh Hooda administration in 2007 under Rule 134 A of the 2003 Haryana School Education Rules.  According to the plan, government students from the Economically Weaker Section (EWS) who attend private schools will receive a free education.  Under the Cheerag programme, government school children in grades 2 through 12 may enrol in private schools.  To qualify, parents' verifiable annual income must be less than Rs. 1.8 lakh.  The state of Haryana will pay back: -Rs 700 each student in grades two through five, Rs 900 per student in grades six through eight and Rs 1,100 each student in grades nine through twelve.

 

International News

 

Will defend Philippines if it's attacked in the South China Sea: US

US State Secretary Antony Blinken on Saturday said that the US would come to the defence of the Philippines if it faces hostilities in the South China Sea. Referring to an "ironclad" defence pact between the two countries, Blinken stated, "An armed attack on Philippine armed forces, public vessels and aircraft will invoke US mutual defence commitments under that treaty."

Chinese ship to dock in Hambantota for refuelling: Sri Lanka

Chinese research vessel 'Yuan Wang 5' will dock at Hambantota Port in Sri Lanka next week to seek "refuelling and replenishment", Sri Lankan Minister Bandula Gunawardana has said. He reiterated Colombo will not do "anything to harm the good understanding" between India and Sri Lanka. Earlier, India's defence establishment said it would closely follow the visit of the Chinese ship.

 

Roopali Desai becomes 1st Indian-American judge on US' 9th Circuit

The US Senate has confirmed Arizona lawyer Roopali Desai as the first Indian-American judge on the 9th US Circuit Court of Appeals. Desai was confirmed by the Senate by a bipartisan vote of 67-29 on Thursday. The 9th Circuit, which is the largest of the thirteen courts of appeals, has jurisdiction over nine states and two territories.

Sweden and Finland approved to join NATO by US Senate

With 95 senators voting in favour of the measure, the US Senate decisively approved the NATO membership of Sweden and Finland. Republican Senator Josh Hawley of Missouri cast the lone dissenting vote, contending that the threat posed by China should receive considerably more attention than European security.  Finland and Sweden's membership in NATO has the strong support of US President Joe Biden, who in July forwarded the issue to the Senate for consideration.

 

AGREEMENTS

K-DISC inks MoU with LinkedIn to Promote Employability 

Kerala Development and Innovation Strategy Council (K-DISC) has signed a Memorandum of Understanding (MoU) with LinkedIn, the world's largest professional network, along with the ICT Academy of Kerala (ICTAK) under the Kerala Knowledge Economy Mission (KKEM) as a part of Connect Career to Campus campaign (CCC).  Kerala government aims to boost employability skills with this partnership among the youth of Kerala to get relevant jobs using LinkedIn.  State Government announces that various products and services will be made available for the students on LinkedIn.  The products and services include LinkedIn Insights, curated LinkedIn learning courses, and LinkedIn jobs.

BANKING, BUSINESS AND ECONOMY

RBI Hikes Repo Rate By 140 Base Points In 3 Months 

The Reserve Bank of India (RBI) on August 5, 2022, raised the repo rate by 50 basis points (bps) to 5.4 per cent, taking it above the pre-pandemic levels of 2020, as has been speculated in a while.  This is the third time that the RBI has raised the repo rate in a span of few months, by a huge 140 bps in three months, to be precise. One bps equals 0.01 percentage point.

New B'luru-Chennai e-way will reduce travel time to 2 hrs: Gadkari

The new expressway between Bengaluru and Chennai will reduce the travel time between the two cities to two hours, Union Road Transport and Highways Minister Nitin Gadkari said. "India will have 26 new green expressways in the next three years and this will reduce the travel time for people choosing roadways," Gadkari said.

India's forex reserves rise by $2.4 billion after 4-week fall

India's foreign exchange reserves rose by nearly $2.4 billion to $573.9 billion during the week ending July 29, according to the Reserve Bank of India's weekly supplementary statistical data. The rise was led by positive inflows by foreign investors in the Indian equity market. It had been witnessing a fall for four consecutive weeks prior to that.

New Payment System For NRIs: The BBPS 

The Reserve Bank of India (RBI) proposed to allow non-resident Indians (NRIs) to make utility, education and other bill payments on behalf of their family members living in India.  The payments will be processed through Bharat Bill Payment System’s (BBPS) cross-border inward bill payments facility.  BBPS is a payments system conceptualized by RBI and run by National Payments Corporation of India(NPCI) to help customers make bill payments both digitally and physically, say, through bank branches and business correspondents.

Science and Technology News

ISRO's launched tiniest rocket to display the Tricolor in Space 

A tiny satellite launch vehicle will be sent from Sriharikota by the Indian Space Research Organization on 7th August 2022. It is a three-stage vehicle, and each step of propulsion uses solid fuel.  The goal of the project is to place an Earth observation satellite called EOS-02 into low earth orbit along with a satellite called "Azaadi SAT." The satellite will be launched from Sriharikota.  750 female students from government schools in remote areas from Kashmir to Kanyakumari created the "Azaadi Satellite."  Srimathy Kesan, the founder of Space Kidz India, said that the opportunity for the girls to participate in the programme was fantastic.

Sports News

Commonwealth Games 2022: Bajrang Punia Wins Gold in Men's 65kg Category 

Bajrang Punia has won his 3rd Commonwealth Games medal and his second successive Gold medal in the men's 65kg category.  The Tokyo Olympics bronze medallist beat Lachlan McNeil of Canada in the final (9-2). He had won silver in his maiden CWG in 2014 and then bettered the colour four years ago in Gold Cost by winning a gold.

Commonwealth Games 2022: Sakshi Malik Wins Gold in Women's Wrestling 

Star Indian wrestler, Sakshi Malik has won the gold medal in the Women’s Wrestling Freestyle 62Kg at the 2022 Birmingham Commonwealth Games. She defeated Ana Godinez Gonzalez of Canada in the final.  The 29-year-old defeated England’s Kelsey Barnes 10-0 via technical superiority in the quarter-final and then beat Cameroon’s Berthe Emilienne Etane Ngolle 10-0 via technical superiority in the semi-final.

Commonwealth Games 2022: India's Deepak Punia won a gold medal in Wrestling 

India's wrestler Deepak Punia has won the gold medal in the Commonwealth Games 2022 by defeating Pakistan's Muhammad Inam by 3-0 in the men's 86 kg category in the final.  In the semifinal earlier, Deepak saw out Canada's Alexander Moore 3-1 as he gained early points. This is India's third gold medal in wrestling.

Important Days

Hiroshima Day is observed globally on 6th August

Hiroshima Day is observed on August 6 to commemorate the atomic bombing of Hiroshima, Japan, in 1945, at the end of World War II.  The horrific incident took place on August 6, 1945, when the United States dropped an atomic bomb named “Little Boy”, on the town of Hiroshima in Japan. 2022 marks the 77th anniversary of the world’s first atomic bombing.  The day, which is observed at the Hiroshima Peace Memorial Park, Japan, highlights the effects of nuclear wars, pays respect to those who got killed, discourages nuclear proliferation and promotes world peace. 

 

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KARNATAKA FEDERAL BANK ECGC CURRENT AFFAIRS SNIPPETS 05082022

 

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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Karnataka Bank - Federal Bank current affairs 04082022

 

CURRENT AFFAIRS SNIPPETS

04th August 2022

 

National News

'Flood tourism' will not be permitted: Kerala minister amid rains

Amid rains in Kerala, state minister K Rajan on Wednesday said that people should strictly avoid going to areas which are inundated or flooded as part of a growing trend of “flood tourism”. He warned that such activities will not be permitted and police would be used to remove such persons.

CJI NV Ramana recommends Justice UU Lalit's name as his successor

Chief Justice of India NV Ramana has recommended Justice Uday Umesh Lalit's name as his successor. Justice Lalit will become the 49th CJI. Justice Lalit, who enrolled as an Advocate in June 1983, practised in the High Court of Bombay till December 1985 and was appointed Judge of the Supreme Court of India in August 2014.
No shortage of foodgrain in country: Union Agriculture Minister

Union Agriculture Minister Narendra Singh Tomar informed the Parliament that there is no shortage of foodgrain in the country and stocks are sufficient to meet the demand. There are adequate stocks in the “central pool”, he added. "As on July 1, 2022, the actual stock of wheat is 285.10 LMT against the buffer norm of 275.80 LMT," Tomar said.

6 National Highway projects launched in MP by Union Minister 

In Indore, Madhya Pradesh, 6 National Highway projects totaling 119 km and costing Rs. 2300 crore were formally opened and the foundation stone was laid by Union Minister for Road Transport and Highways Shri Nitin Gadkari.  The villages in the Indore-Harda segment will be better connected to Indore. He stated that the expansion of the Dhar-Pithampur Industrial Corridor would result in more job opportunities.  According to the Minister, travel times between Tejaji Nagar (Indore) and Burhanpur and Indore and Harda will be shortened, saving fuel. He claimed that travellers heading to Omkareshwar and Khandwa will have easy access to the routes.  The State Government and NHAI signed a memorandum of understanding during this initiative to build ropeways at 14 designated locations in Madhya Pradesh.

Wild Life (Protection) Amendment Bill, 2021 approved by Lok Sabha 

The Wild Life (Protection) Amendment Bill, 2021 is approved by the Lok Sabha. The Wild Life (Protection) Act of 1972 already protects a number of species, but the proposed legislation would also implement CITES, the Convention on International Trade in Endangered Species of Wild Fauna and Flora. The Rajya Sabha still needs to pass the Bill, though.  According to Bhupender Yadav, the Union Environment Minister, the government operates under the Vasudhaiva Kutumbakam principle and strives to improve both humankind and all other animal species.  The Union Environment Minister has also urged people to avoid purchasing upscale goods derived from animals from threatened or endangered species.

Ministry for Commerce & Industry: India recognising over 75000 startups so far

Union Minister for Commerce & Industry, Piyush Goyal has announced that India has achieved a landmark milestone, wherein 75000 startups have been recognized in the country.  The Department for Promotion of Industry and Internal Trade (DPIIT) has recognized more than 75,000 startups- a milestone which coincides with the 75th year of independence.  Startup India program which was primarily set up to provide an enabling environment for the startups has today evolved into the launchpad for them.

Andhra Pradesh emerges as winner in Utilisation of Agri-Infra funds 

When it comes to using cash for agricultural infrastructure, Andhra Pradesh comes out on top (Agri Infra Fund). By placing a strong emphasis on infrastructure development at the farm gate, it has become the best state.  At a ceremony in New Delhi, Union Minister of Agriculture and Family Welfare Narendra Singh Tomar presented B. Srinivasa Rao, CEO of State Rythu Bazars, with the award for the best state in the nation in terms of utilising Agri Funds in the fiscal year 2021–22.

Kerala CM launched eggs and milk scheme for Anganwadi children 

Kerala Chief Minister, Pinarayi Vijayan has inaugurated a project of the Women and Child Development department.  This project help to provide milk and eggs to children at all Anganwadis in the state in a bid to improve their nutrition levels. The state government has set aside over Rs 61.5 crore to include milk and eggs in the Anganwadi menu this financial year.  Under this scheme, which is considered as a first in the country, each child will be given 125 ml of milk two days a week for 44 weeks (10 months) and an egg twice a week.  Under this project, four lakh children in the age group of 3-6 from the 33,115 anganwadis of the state will receive eggs and milk twice a week.

Appointments News

Suresh N Patel sworn in as Central Vigilance Commissioner 

Vigilance Commissioner, Suresh N. Patel was appointed as the Central Vigilance Commissioner. He has been working as the acting Central Vigilance Commissioner (CVC) since June this year.  He was sworn in as the chief of the Central Vigilance Commission by President Droupadi Murmu at Rashtrapati Bhavan. The ceremony was also attended by Prime Minister Narendra Modi and Vice President M. Venkaiah Naidu. Former Indian Administrative Service (IAS) officer Sanjay Kothari had completed his term as the CVC on June 24 last year.

IFS officer Shweta Singh appointed as Director of PMO 

According to a Personnel Ministry, 2008 batch Indian Foreign Service (IFS) officer, Shweta Singh was appointed as a director in the Prime Minister's Office (PMO).  The Appointments Committee of the Cabinet (ACC) approved Singh's appointment for a period of three years from the date of her joining.  The ACC has cancelled the appointment of Aniket Govind Mandavgane, a 2009-batch IFS officer, as the Deputy Secretary in the PMO. Mandavgane was on July 18 appointed as the Deputy Secretary.

Senior-most judge of Supreme Court U U Lalit, in line to become next CJI 

Senior-most judge of the Supreme Court of India, Justice U U Lalit, who is in line to become the next Chief Justice of India (CJI).  He has been part of several landmark judgements including the one which held the practice of divorce through instant 'triple talaq' among Muslims illegal and unconstitutional.  Justice Lalit is in line to become the 49th CJI of India on August 27, a day after incumbent Justice N V Ramana demits the office.

 

International News
China fires multiple missiles around Taiwan

China fired multiple missiles around Taiwan on Thursday as it launched its largest-ever military exercises a day after a visit by US House Speaker Nancy Pelosi. Taiwan's Defence Ministry said several Dongfeng missiles had been fired in waters to the northeast and southwest of the island. The last time China fired missiles into waters around Taiwan was in 1996.

 

 

UN General Assembly deemed a healthy environment a Human Right 

The United Nations General Assembly (UNGA) adopted a resolution that recognised everyone's right to a healthy environment. It was stated that the action is a crucial one in halting the alarming decline of the natural environment.  India supported the resolution but abstained from one of the resolution's key clauses. It expressed dissatisfaction with the resolution's methodology and content.  The UNGA recognises the right to a clean, healthy, and sustainable environment as a human right, according to the resolution's operative paragraph 1.  Ashish Sharma, a counsellor at India's Permanent Mission to the UN, asked that this comment be recorded in the meeting's official records.

Samsung scales back production in Vietnam as demand falls: Reports

Samsung Electronics has cut down production at a smartphone plant in Vietnam as retailers and warehouses deal with increasing inventory amid global fall in consumer spending, reports said. US retailers like Best Buy, Target Corp warn of slowing sales. Plant workers said they are shifting to three-day and four-day work week as six-day work week and overtime is not needed.

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BANKING, BUSINESS AND ECONOMY

CNG price increases by ₹6 per kg in Pune; 7th hike since April

The price of compressed natural gas (CNG) has been increased by ₹6 in Pune, effective from Thursday. CNG will now cost ₹91 per kg in Pune. This is the seventh price hike since April this year. "Overall, there is a shortage of CNG as there is no supply from Russia and Ukraine," All India Petroleum Dealers Association spokesperson said.

Bharti Airtel to roll out 5G services this month, signs equipment deals

Bharti Airtel has signed 5G equipment service deals with Ericsson, Nokia and Samsung, and will start rolling out 5G services later this month, the telecom operator said. Bharti Airtel acquired 19,867.8 MHz spectrum worth ₹43,084 crore in the country's first-ever 5G spectrum auction. "Airtel will work with the best technology partners from across the world," its MD and CEO said.

RBI permitted use of INR for foreign commerce invoices and payments 

Bhagwat Kisanrao Karad, the Union Minister of State for Finance, informed the Rajya Sabha that the Reserve Bank of India (RBI) has permitted foreign trade invoices and payments to be made in the Indian Rupee.  By means of a circular titled International Trade Settlement in Indian Rupees (INR) that was published on July 11, 2022, the central bank has permitted payments for international trade in the Indian currency.

Gold prices in India rise, trade at ₹51,815 per 10 gram

Following positive global cues, gold prices in India traded higher on Thursday at ₹51,815 per 10 gram. Gold October futures traded higher by ₹461 at ₹51,850 per 10 gram on the Multi Commodity Exchange. Silver September futures rose ₹57,880 per kg. A pullback in the US dollar and Treasury yields led gold prices to edge higher globally

 

Ranks and Reports News

Fortune Global 500 list: LIC breaks into Fortune 500 list

Indian statutory insurance and investment corporation, Life Insurance Corporation (LIC) has broken into the latest Fortune Global 500 list.  The nation’s biggest life insurer with revenue of USD 97.26 billion and a profit of USD 553.8 million, was ranked 98th on the just released Fortune 500 list. This is the first outing of LIC on the list, which ranks listed companies by sales.

Ramsar sites: India adds 10 new wetlands in the list 

India adds 10 more wetlands designated as Ramsar sites to make a total of 64 sites in the country. The 10 new sites include Six (6) sites in Tamil Nadu and One (1) each in Goa, Karnataka, Madhya Pradesh and Odisha.  Designation of these sites would help in the conservation and management of wetlands and the wise use of their resources.  India is one of the Contracting Parties to the Ramsar Convention, signed in Ramsar, Iran, in 1971. India signed it on 1st Feb 1982.  So far 64 wetlands covering an area of 12,50,361 ha have been designated as Ramsar Sites of International Importance in India, till date.

Sports News

Commonwealth Games 2022: Tejaswin Shankar wins India's first High Jump Medal 

India’s Tejaswin Shankar won India's first medal in athletics at the Commonwealth games 2022, by clinching a historic bronze in the men’s high jump final.  Tejaswin, competing for India for the first time in four years nailed a landing of 2.22m to secure a podium finish. He did not have trouble clearing 2.5m and 2.10m in the opening two jumps.  Then 2.19m and 2.22m quite easily on the first try. He though failed to clear 2.25 but clinched the bronze medal after being quicker to jump 2.22m against the fourth-placed athlete. He attempted 2.28m on his last jump but failed.

Commonwealth Games 2022: Tulika Maan wins silver in women's 78kg judo event 

Indian judoka, Tulika Maan settle for a silver medal in the women's 78kg category in the Commonwealth Games 2022.  Tulika Maan gets India's second silver medal in Judo and third overall in the Judo, as she conceded a defeat by Ippon to Scotland's Sarah Adlington in the Women's +78kg final.

44th Chess Olympiad: Tania Sachdev Shines in Indian Women Team 

Tania Sachdev has registered a 2.5-1.5 win for India against Hungary in the fourth-round match of women section at the 44th Chess Olympiad in Mamallapuram, Chennai. She thrashed Zsoka Gaal to earn a decisive point as well as a match for the team.  Koneru Humpy, Dronavalli Harika and R Vaishali ended with a draw in their respective encounters. Tania Sachdev is an Indian chess player, who holds the FIDE titles of International Master and Woman Grandmaster.  She is a two-time Indian women's chess champion in 2006 and 2007, one-time Asian women's chess champion in 2007 and three-time and current Commonwealth Women's Chess Champion in 2016, 2018 and 2019.

Commonwealth Games 2022: Saurav Ghosal wins India's first-ever singles medal in squash

India's Saurav Ghosal has clinched the bronze medal in squash men's singles by beating James Willstrop of England 11-6, 11-1, 11-4 to take India's Commonwealth Games 2022.  This was also India's first-ever medal in squash singles at the Games. He had lost the men's singles semi-final 3-0 (11-9 11-4 11-1) to New Zealand's Paul Coll.

Commonwealth Games 2022: Indian weightlifter Gurdeep Singh wins bronze in men's

India's Gurdeep Singh won a bronze medal in the men's 109+kg weightlifting event. Gurdeep lifted a total weight of 390kg (167kg+223kg) in the final, as he won India's 10th weightlifting medal at the ongoing edition of the Games.  Gurdeep joined Gururaja Poojary and Lovepreet Singh to add a third bronze medal in weightlifting for India.  The gold went to Pakistan's Muhammad Nooh Butt for his Games record-breaking lift of 405kg (173kg+232kg). New Zealand's David Andrew Liti clinched the silver for his effort of 394kg (170kg+224kg). 

 

 

 

 

 

OBITUARY

Himachal Pradesh BJP vice-president Praveen Sharma passes away aged 65

Himachal Pradesh BJP vice-president Praveen Sharma died on Thursday morning aged 65. Sharma, who was the vice chairman of Himachal Pradesh Housing and Urban Development Authority (HIMUDA), died at his residence in Amb town. He was elected from the Amb Assembly constituency in 1998 and had also served as Excise and Taxation-cum-Youth Welfare and Sports Minister.

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KARNATAKA FEDERAL BANK CURRENT AFFAIRS 03082022

CURRENT AFFAIRS SNIPPETS 

03rd August 2022

National News

Kerala man going from Kanyakumari to Kashmir on skateboard dies in Haryana

Anas Hajas, a 31-year-old resident of Kerala who was travelling from Kanyakumari to Kashmir on a skateboard, lost his life after a speeding truck hit him in Haryana's Panchkula on Tuesday. Hajas had started his 3,511-km-long journey on May 29 to create awareness among people about skating. After completing this trip, he was planning trips to Nepal, Bhutan and Cambodia.

GoI released a commemorative postage stamp to honour Tricolour designer P Venkayya 

The government of India released a special commemorative postage stamp to mark the 146th birth anniversary of Pingali Venkayya, the designer of India’s national flag.  The stamp was released by Prime Minister Narendra Modi during an event “Tiranga Utsav” organised by the Ministry of Culture at Indira Gandhi Stadium, in New Delhi.  The event will also display the original design of the national flag made by Pingali Venkayya. The current flag is the modified version of the first design of the flag.  The Tiranga Utsav will also witness the grand launch of the “Har Ghar Tiranga” anthem and video. Venkayya, born on August 02, 1876, near Machilipatnam town in Andhra Pradesh, was a freedom fighter and a follower of Gandhian principles.

Tiranga bike rally organised by Union Culture Minister G Kishan Reddy 

A Har Ghar Tiranga Bike Rally by Members of Parliament was launched in Delhi from the famed Red Fort by Vice President M. Venkaiah Naidu. The Tiranga Bike rally is organised by Union Culture Minister G Kishan Reddy.  In honour of Prime Minister Narendra Modi's Har Ghar Tiranga campaign, a bike rally was held from Red Fort to Vijay Chowk. Additionally present were Union Ministers Pralhad Joshi and Piyush Goyal.

Appointments News

BharatPe appoints ex-head of SBI Card Nalin Negi as CFO

Fintech unicorn BharatPe has appointed the former head of SBI Card, Nalin Negi, as its Chief Financial Officer as the company prepares for its Initial Public Offering (IPO). In a statement, BharatPe said that Negi will be working towards making the company EBITDA positive by March 2023. Negi will be reporting to Suhail Sameer, the company's Chief Executive Officer (CEO).

Sujoy Lal Thaosen gets the additional charge of DG of ITBP 

Sashastra Seema Bal's director general in New Delhi, Dr. Sujoy Lal Thaosen assumed the additional responsibility of Director General of the Indo-Tibetan Border Police. Dr. Thaosen is a Madhya Pradesh Cadre IPS Officer from the 1988 batch.  Dr. Thaosen received the charge and traditional baton from IPS Sanjay Arora. The ITBP, established in 1962, patrols the Indo-Chinese border. Additionally, it is used for a number of internal security tasks, such as anti-Naxal operations in Chhattisgarh.

Banking, Business and Economy News

India’s services sector growth hits 4-month low in July

The S&P Global India Services PMI Business Activity Index fell from 59.2 in June to 55.5 in July as inflation, unfavourable weather and competitive pressures restricted demand. The index pointed to the slowest growth rate in four months. Meanwhile, the growth in sales was driven by the domestic market even as international demand saw a decline.

Kotak Mahindra Bank appoints Milind Nagnur as President and CTO

Kotak Mahindra Bank has announced the appointment of Milind Nagnur as President and Chief Technology Officer (CTO). Nagnur, who had been working at US-based Early Warning as CTO since June 2020, will be incharge of spearheading Kotak's technological transformation. Nagnur has previously worked with Wells Fargo Bank, JP Morgan Chase and Citigroup.

Which 9 Indian companies feature on 2022 Fortune Global 500 list?

As many as nine Indian companies feature on 2022 Fortune Global 500 list. LIC is ranked 98th, while Reliance Industries is ranked 104th. Other Indian companies on the list are Indian Oil, Oil and Natural Gas, SBI, Bharat Petroleum, Tata Motors, Tata Steel and Rajesh Exports. The list ranks the world's largest corporations by revenue for fiscal 2021.

GST collection for July 2022 second highest ever at Rs 1.49 lakh crore

Goods Services Tax collection has risen 28 per cent to touch the second-highest level of Rs 1.49 lakh crore in July on the back of economic recovery and steps taken to curb tax evasion.  Goods and Services Tax (GST) collection stood at Rs 1,16,393 crore in the same month a year ago. GST, introduced in July 2017, touched a record high of Rs 1.68 lakh crore in April 2022.  Of the Rs 1,48,995 crore GST collected in July, Central GST is Rs 25,751 crore, State GST is Rs 32,807 crore, Integrated GST is Rs 79,518 crore (including Rs 41,420 crore collected on import of goods) and cess is Rs 10,920 crore (including Rs 995 crore collected on import of goods).

RBI's Financial Inclusion Index (FI-Index) Inches Up 

The Reserve Bank of India's composite financial inclusion index (FI-Index) capturing the extent of financial inclusion across the country rose to 56.4 in March 2022, showing growth across parameters.  RBI now publishes the index annually in July every year. The index stood at 53.9 in March last year. It was at 43.4 for the period ending March 2017, showing rapid improvement in reach of financial services over the past five years.  Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way.

SIDBI and SVC bank collaborate to increase loans to MSMEs 

To increase the flow of loans to MSMEs, the SVC Co-operative Bank (SVC Bank) and the Small Industries Development Bank of India (SIDBI) have reached an agreement. Ashish Singhal, MD of SVC Bank, and Sanjeev Gupta, GM of SIDBI, inked the deal. For more than 115 years, SVC Bank has acted as a reliable partner for MSMEs.  According to the agreement, SIDBI would grant a refinancing facility to SVC Bank in order to promote loan flow, empower MSMEs, and strengthen economic ties.  The MSME sector is the backbone of the Indian economy in terms of exports, employment creation, and revenue to the exchequer.

Sports News

Saurav Ghosal becomes 1st Indian squash player to win a CWG singles medal, bags bronze

Saurav Ghosal on Wednesday created history by becoming the first-ever Indian to win a singles medal in squash in the history of CWG. The 35-year-old defeated England's James Willstrop to finish third in the men's singles event at CWG 2022. Notably, Ghosal had won silver medal in mixed doubles event at CWG 2018 in Gold Coast.

23-year-old Tulika Maan wins silver medal at CWG 2022, takes India's tally to 16 medals

Judoka Tulika Maan on Wednesday bagged a silver medal in judo at CWG 2022, taking India's medal tally at the Games to 16. The 23-year-old lost to Sarah Adlington of Scotland in the women's +78 kg category final. India have won three medals in judo at CWG 2022 so far, including one bronze and two silver medals.

Commonwealth Games 2022: Indian Team bags gold in Lawn Bowl 

India's lawn bowls women's fours team made history by winning the gold medal at the Commonwealth Games 2022.  This was the country's first medal in the lawn bowls event and the team, made of skipper Rupa Rani Tirkey, Lovely Choubey, Pinki and Nayanmoni Saikia, ended up winning the title itself after beating 2018 silver medallists South Africa.  The Indian team won against South Africa with a 17-10 victory.

Commonwealth Games 2022: India’s paddlers wins gold in Table Tennis 

India’s paddlers retained their men’s team championship title with a convincing 3-1 win over Singapore in the Table-Tennis Final of the Commonwealth Games 2022.  For India, Harmeet Desai and G Sathiyan gave India a great start by registering a win in the doubles match. However, Chew Zhe Yu Clarence won the next game to level Singapore at 1-1. But G Sathiyan and Harmeet Desai ensured India’s gold by winning their respective matches.

Commonwealth Games 2022: Indian badminton team claimed the silver medal 

Indian badminton team claimed the silver medal in the mixed group match of the Commonwealth Games 2022.  Indian badminton mixed team suffered a 1-3 defeat against Malaysia and had to settle for silver. Only PV Sindhu managed to earn a win in the summit clash against Malaysia in the women’s singles match.  In the first match of the tie, India’s Chirag Shetty and Satwiksairaj Rankireddy were locked in a tough first game against Malaysia’s Teng Fong Aaron Chia and Wooi Yik.  In the second match of the tie, PV Sindhu took on Jin Wei Goh. The opening game of the match saw the double Olympic medallist playing aggressively to take one game lead over Malayasia’s Jin Wei Goh by 22-20.  In the third match of the tie, Kidambi Srikanth went down 19-21 against Malaysia’s Ng Tze Yong in the opening game.  After the match, Malaysia took a 2-1 lead. In the fourth match of the fixture, Treesa Jolly and Gayatri Gopichand went against Muralitharan Thinaah and Koong Le Pearly Tan. Indian pair lost the first game 18-21. The Malaysian pair won the second game 21-17 to clinch the gold medal in Games 2022.

4th ONGC Para Games 2022 inaugurated by Shri Hardeep Singh Puri 

The fourth edition of the ONGC Para Games was officially launched in New Delhi's Thyagaraj Sports Complex by Union Minister of Petroleum, Natural Gas, Housing, and Urban Affairs Shri Hardeep Singh Puri.  The 4th ONGC Para Games are being held by Oil and Natural Gas Corporation Limited (ONGC) from August 2-4, 2022, and feature 275 Persons with Disabilities (PwD) who work for eight central oil and gas public organisations.

Commonwealth Games 2022: Lovepreet Singh clinches bronze medal in men's weightlifting 

Lovepreet Singh has won bronze in the men’s 109kg weightlifting final with a total lift of 355kg, taking India's medal tally in the Commonwealth Games 2022.  Cameroon's Junior has taken the lead with a total lift of 361kg.  Samoa's Jack Opeloge is second with a total lift of 358kg. Lovepreet Singh is third with a total lift of 355kg.  Australia's Jackson is the last man standing, trying to win a bronze. The Indian weightlifting contingent has now won a total of 9 medals.

Science and Technology News

Jio getting ready to launch World’s Most Advanced 5G Network across India 

Reliance Jio, owned by billionaire Mukesh Ambani, became the highest bidder for 5G spectrum, paying Rs 88,078 crore to buy over half of the airwaves offered in the most recent auction.  The Adani group paid Rs 212 crore for 400 MHz, or less than 1% of all spectrum sold, according to Telecom Minister Ashwini Vaishnaw. Jio has also acquired the 700 MHz band.  While Jio purchased spectrum across several bands, including the coveted 700 MHz band, which can provide 6-10 km of signal range and serves as a good foundation for fifth generation (5G) in all 22 circles in the country.  Adani Group purchased spectrum in the 26 GHz band, which is not for public networks.  If 700 Mhz is used, a single towner can cover a larger area.

Books and Authors News

A book titled “Lion Of The Skies: Hardit Singh Malik” by Stephen Barker 

A book titled “Lion of the Skies: Hardit Singh Malik, the Royal Air Force and the First World War” is all about an “India’s first fighter pilot” who participated in the World War, long before the Indian Air Force was born.  The book has been written by author Stephen Barker, who describes in great detail, how challenging it was for an Indian to serve in the British armed forces, fighting racial discrimination – both institutional and interpersonal.

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