Daily GK Update- 3rd Aug, 2021

 

NATIONAL UPDATES:

 

1. Union Minister of Science & Technology releases “Biotech-PRIDE”: The Union Ministry for Science & Technology has released “Biotech-PRIDE (Promotion of Research and Innovation through Data Exchange) Guidelines”. The Biotech-PRIDE Guidelines have been developed by the Department of Biotechnology (DBT). The guidelines are aimed at providing a well-defined framework and guiding principle to facilitate and enable sharing and exchange of biological knowledge, information and data.

The guidelines will be implemented through the Indian Biological Data Centre (IBDC). The exchange of information will help in promoting research and innovation in different research groups across the country. These guidelines do not deal with the generation of biological data but are an enabling mechanism to share and exchange information and knowledge generated as per the existing laws, rules, regulations and guidelines of the country.

Note: Union Minister for Science & Technology: Jitendra Singh.

 

2. Bhubaneswar becomes first Indian city to vaccinate 100% against COVID-19: Bhubaneswar has become the first Indian city to achieve 100 per cent COVID-19 vaccination. The Bhubaneswar Municipal Corporation (BMC) had launched a massive vaccination drive against Covid-19. This milestone is credited to the BMC running 55 centres at all times for vaccines. BMC has a record of around nine lakh people who are above 18 years of age in the city. Which includes around 31 thousand healthcare workers, 33 thousand front-line workers. 5 lakh 17 thousand people are in the age group of 18 to 44 years. Three lakh twenty-five thousand people are above 45 years of age.

Note: Chief Minister of Odisha: Naveen Patnaik and Governor is Ganeshi Lal.

 

3. Govt announces special economic & comprehensive package of Rs. 29.87 lakh under AtmaNirbhar Bharat: Government had announced a special economic and comprehensive package of 29.87 lakh crore rupees under AtmaNirbhar Bharat during last financial year. Finance Minister Nirmala Sitharaman said that the aim of this package was to combat the impact of the Covid-19 pandemic in the country. She said that the Government has announced a number of measures to support broad based and inclusive economic development including a 34.5 percent increase in capital expenditure and 137 percent increase in health expenditure in the current Union Budget.

 

4. Govt to set up Centre for Bio-Resources & Sustainable Development in Northeast: Ministry of Science and Technology will set up a first-of-its-kind Centre of Excellence in the Northeast. The prestigious project for establishing Centre for Bio-Resources and Sustainable Development as a Centre of Excellence was sanctioned by the Department of Biotechnology and is complete for formal inauguration shortly. The location of the project is at Kimin in district Papum Pare in Arunachal Pradesh. The construction of the new building as well other infrastructure has been completed.

 

5. Centre to invest Rs324 crore to expand laboratory testing infrastructure: The Union government will set up over 42 virology research and diagnostic laboratories under a central scheme during the period of 15th Finance Commission (2021-22 to 2025-26) at a cost of Rs324 crore. The scheme under the Department of Health Research (DHR), Indian Council of Medical Research (ICMR) aims to help boost coverage of timely diagnosis and identification of viruses during an epidemic outbreak, generation of data about viral diseases for facilitating quick deployment of resources and measures to save human lives.

 

INTERNATIONALUPDATES:

 

1. NikolPashinyan Re-appointed as PM of Armenia: NikolPashinyan has been re-appointed as the prime minister of Armenia by President Armen Sarkissian on August 02, 2021. Pashinyan, the leader of the Civil Contract Party, won the majority of seats in parliamentary elections in June 2021. The 46-year-old Pashinyan was first appointed as the prime minister in 2018.

Note: Armenia Capital: Yerevan; Currency: Armenian dram.

 

2. Myanmar Military Chief appointed as interim Prime Minister: The Chief of the Myanmar military, Senior General Min Aung Hlaing has taken over as the interim prime minister of the country. He is also the Chairman of the State Administration Council (SAC) which has been performing the duties of the government in Myanmar, after the February 01, 2021 coup, which overthrew Aung San Suu Kyi’s ruling party. This SAC has been reformed as the caretaker government of Myanmar in order to perform the country’s duties fast, easily and effectively. Min Aung Hlaing is also been the commander-in-chief of Defence Services of Myanmar since March 2011. Hlaing has pledged to hold elections by 2023.

Note: Myanmar Capital: Naypyitaw; Myanmar Currency: Kyat.

 

3. ISRO-NASA joint mission NISAR Satellite to be launched in 2023: The ISRO-NASA joint mission NISER (NASA-ISRO Synthetic Aperture Radar) satellite, aimed at making global measurement of land surface changes using advanced radar imaging, is proposed to be launched in early 2023. It is a dual-band (L-band and S-band) radar imaging mission with the capability of full polarimetric and interferometric modes of operation to observe minor changes in land, vegetation and cryosphere.

NASA is developing L-band SAR and associated systems while ISRO is developing S-band SAR, spacecraft bus, the launch vehicle and associated launch services. The major scientific objectives of the mission are to improve understanding of the impact of climate change on Earth’s changing ecosystems, land and coastal processes, land deformations and cryosphere. NISER is one of the crucial collaborations of the ISRO and NASA. India and the U.S. had agreed upon this mission during then-President Barack Obama’s visit to India in 2015.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

NASA administrator: Bill Nelson; Headquarters of NASA: Washington D.C., United States; NASA Founded: 1 October 1958.

 

OTHER UPDATES:

 

SPORTS

 

1. Italy’s Marcell Jacobs wins men’s 100m gold at Tokyo Olympics 2020: Italy’s Lamont Marcell Jacobs outshone a field of unusual suspects to claim a shock Olympic gold in the men’s 100 metres, breaking retired Jamaican star Usain Bolt’s 13-year hold on the blue-riband event. American Fred Kerley took silver in a personal best of 9.84 with Canada’s Andre de Grasse repeating his bronze of 2016 in 9.89, also a new best.

In the women category: Elaine Thompson-Herah led a Jamaican sweep in the women’s 100 meters at the Tokyo Summer Games, capturing gold in an Olympic-record time of 10.61 seconds. Thompson-Herah’s time was also the second-fastest women’s 100 of all time. Veteran teammate Shelly-Ann Fraser-Pryce took the silver in 10.74 seconds while Shericka Jackson, also of Jamaica, was third in 10.76. Teahna Daniels of the U.S. was seventh in 11.02.

 

2. US clinches CONCACAF Gold Cup in football: United States clinched an exhilarating 1-0 extra-time win over defending champion Mexico to claim a seventh CONCACAF Gold Cup. Just three minutes were left in extra time when the US defender head-butted a cross by Kellyn Acosta past Mexican goalkeeper Alfredo Talavera. This was the American team’s first Gold Cup title since 2017 and avenged a defeat to Mexico in 2019 final. Mexico’s Hector Herrera was the Tournament’s Best Player. US Matt Turner, who recorded five clean sheets, was voted Best Goalkeeper. Almoez Ali of Qatar received the Top Scorer Award.

 

BANKING AND FINANCE

 

1. HDFC Bank launches ‘Dukandar Overdraft Scheme’: HDFC Bank announced the launch of an overdraft facility for small retailers in partnership with CSC SPV. Known as ‘Dukandar Overdraft Scheme’. The scheme by HDFC Bank is aimed at helping shopkeepers and merchants ease their cash crunch. According to the bank, retailers operating for a minimum of three years are eligible for the scheme by providing six months bank statement from any bank. HDFC Bank will approve an overdraft limit from a minimum of Rs 50,000 to a maximum of Rs 10 lakhs based on the statements. Importantly, HDFC Bank won’t seek collateral security, business financials, and income tax returns from retailers who apply for the scheme.

Note: Headquarters of HDFC Bank: Mumbai, Maharashtra; MD and CEO of HDFC Bank: SashidharJagdishan; The tagline of HDFC Bank: We understand your world.

 

2. RBI imposes penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank: Reserve Bank of India has imposed a penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank, Nashik for non-compliance with certain regulatory requirements. The penalty on Janalaxmi Co-operative Bank has been imposed for non-compliance with directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks’ and ‘Membership of Credit Information Companies (CICs)’.  A statutory inspection conducted by RBI with reference to the bank’s financial position as on March 31, 2019, and the inspection report pertaining thereto, and examination of all related correspondence revealed non-compliance with the directions.

 

BUSINESS AND ECONOMY

 

1. Indian Bank signs MoU with IIT Bombay for startup financing: Indian Bank has entered into a Memorandum of Understanding with the Society for Innovation and Entrepreneurship (SINE) – an initiative of the Indian Institute of Technology, Bombay – for extending exclusive credit facilities to startups and MSMEs. The Bank will extend loans of up to 50 crore rupees to these start-ups for their working capital requirements or purchase of machinery and equipment. As the name goes, this initiative, which is mutually beneficial for both Bank and IIT, Bombay, will be the springboard for start-ups to realise their ambitions.

About the SINE: SINE, IIT, Bombay is the forerunner in setting up joint R&D with industries and supporting start-up incubation. SINE, IIT, Bombay provides support to the MSME sector by providing joint research and development arrangements and technical and financial support for incubation and acceleration of high-end technology products.

Note: Indian Bank Headquarters: Chennai; Indian Bank CEO: PadmajaChunduru; Indian Bank: 1907.

 

2. Bvlgari appoints Priyanka Chopra as its global brand ambassador: Italian luxury brand Bvlgari has appointed actor Priyanka Chopra Jonas as global brand ambassador. She will support the Roman high jewellery house in amplifying the brand around the world, with a particular focus on themes of women empowerment, diversity and inclusion. Bvlgari is known for its gemstone jewellery, watches, fragrances, accessories and leather goods.

Priyanka Chopra Jonas is also a global UNICEF Goodwill Ambassador, and recipient of the prestigious Danny Kaye Humanitarian award, serving as a symbol of power and strength for millions of young women.

 

DEFENCE

 

1. Operation Blue Freedom: Team of Special Forces Veterans: The government of India has accorded sanctions to Team CLAW to lead a team of people with disabilities to scale Siachen Glacier. It will be a new world record for the largest team of people with disabilities. This expedition is being undertaken as part of ‘Operation Blue Freedom’. It aims to shatter the common perception of pity, charity, and inability associated with people with disabilities and recreate it to one of dignity, freedom, and ability.

About the Operation Blue Freedom: Operation Blue Freedom was launched in 2019 by CLAW Global, a team of former Special Forces Operatives of the Indian Army and the Indian Navy. The Operation is a social impact venture aimed at rehabilitating people with disabilities through adaptive adventure sports. Moreover, their focus is also to ‘design and implement sustainable large-scale employment solutions’ for people with disabilities, especially in the ‘Environment conservation and Sustainability’ space.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NATIONAL UPDATES:

 

1. Union Minister of Science & Technology releases “Biotech-PRIDE”: The Union Ministry for Science & Technology has released “Biotech-PRIDE (Promotion of Research and Innovation through Data Exchange) Guidelines”. The Biotech-PRIDE Guidelines have been developed by the Department of Biotechnology (DBT). The guidelines are aimed at providing a well-defined framework and guiding principle to facilitate and enable sharing and exchange of biological knowledge, information and data.

The guidelines will be implemented through the Indian Biological Data Centre (IBDC). The exchange of information will help in promoting research and innovation in different research groups across the country. These guidelines do not deal with the generation of biological data but are an enabling mechanism to share and exchange information and knowledge generated as per the existing laws, rules, regulations and guidelines of the country.

Note: Union Minister for Science & Technology: Jitendra Singh.

 

2. Bhubaneswar becomes first Indian city to vaccinate 100% against COVID-19: Bhubaneswar has become the first Indian city to achieve 100 per cent COVID-19 vaccination. The Bhubaneswar Municipal Corporation (BMC) had launched a massive vaccination drive against Covid-19. This milestone is credited to the BMC running 55 centres at all times for vaccines. BMC has a record of around nine lakh people who are above 18 years of age in the city. Which includes around 31 thousand healthcare workers, 33 thousand front-line workers. 5 lakh 17 thousand people are in the age group of 18 to 44 years. Three lakh twenty-five thousand people are above 45 years of age.

Note: Chief Minister of Odisha: Naveen Patnaik and Governor is Ganeshi Lal.

 

3. Govt announces special economic & comprehensive package of Rs. 29.87 lakh under AtmaNirbhar Bharat: Government had announced a special economic and comprehensive package of 29.87 lakh crore rupees under AtmaNirbhar Bharat during last financial year. Finance Minister Nirmala Sitharaman said that the aim of this package was to combat the impact of the Covid-19 pandemic in the country. She said that the Government has announced a number of measures to support broad based and inclusive economic development including a 34.5 percent increase in capital expenditure and 137 percent increase in health expenditure in the current Union Budget.

 

4. Govt to set up Centre for Bio-Resources & Sustainable Development in Northeast: Ministry of Science and Technology will set up a first-of-its-kind Centre of Excellence in the Northeast. The prestigious project for establishing Centre for Bio-Resources and Sustainable Development as a Centre of Excellence was sanctioned by the Department of Biotechnology and is complete for formal inauguration shortly. The location of the project is at Kimin in district Papum Pare in Arunachal Pradesh. The construction of the new building as well other infrastructure has been completed.

 

5. Centre to invest Rs324 crore to expand laboratory testing infrastructure: The Union government will set up over 42 virology research and diagnostic laboratories under a central scheme during the period of 15th Finance Commission (2021-22 to 2025-26) at a cost of Rs324 crore. The scheme under the Department of Health Research (DHR), Indian Council of Medical Research (ICMR) aims to help boost coverage of timely diagnosis and identification of viruses during an epidemic outbreak, generation of data about viral diseases for facilitating quick deployment of resources and measures to save human lives.

 

INTERNATIONALUPDATES:

 

1. NikolPashinyan Re-appointed as PM of Armenia: NikolPashinyan has been re-appointed as the prime minister of Armenia by President Armen Sarkissian on August 02, 2021. Pashinyan, the leader of the Civil Contract Party, won the majority of seats in parliamentary elections in June 2021. The 46-year-old Pashinyan was first appointed as the prime minister in 2018.

Note: Armenia Capital: Yerevan; Currency: Armenian dram.

 

2. Myanmar Military Chief appointed as interim Prime Minister: The Chief of the Myanmar military, Senior General Min Aung Hlaing has taken over as the interim prime minister of the country. He is also the Chairman of the State Administration Council (SAC) which has been performing the duties of the government in Myanmar, after the February 01, 2021 coup, which overthrew Aung San Suu Kyi’s ruling party. This SAC has been reformed as the caretaker government of Myanmar in order to perform the country’s duties fast, easily and effectively. Min Aung Hlaing is also been the commander-in-chief of Defence Services of Myanmar since March 2011. Hlaing has pledged to hold elections by 2023.

Note: Myanmar Capital: Naypyitaw; Myanmar Currency: Kyat.

 

3. ISRO-NASA joint mission NISAR Satellite to be launched in 2023: The ISRO-NASA joint mission NISER (NASA-ISRO Synthetic Aperture Radar) satellite, aimed at making global measurement of land surface changes using advanced radar imaging, is proposed to be launched in early 2023. It is a dual-band (L-band and S-band) radar imaging mission with the capability of full polarimetric and interferometric modes of operation to observe minor changes in land, vegetation and cryosphere.

NASA is developing L-band SAR and associated systems while ISRO is developing S-band SAR, spacecraft bus, the launch vehicle and associated launch services. The major scientific objectives of the mission are to improve understanding of the impact of climate change on Earth’s changing ecosystems, land and coastal processes, land deformations and cryosphere. NISER is one of the crucial collaborations of the ISRO and NASA. India and the U.S. had agreed upon this mission during then-President Barack Obama’s visit to India in 2015.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

NASA administrator: Bill Nelson; Headquarters of NASA: Washington D.C., United States; NASA Founded: 1 October 1958.

 

OTHER UPDATES:

 

SPORTS

 

1. Italy’s Marcell Jacobs wins men’s 100m gold at Tokyo Olympics 2020: Italy’s Lamont Marcell Jacobs outshone a field of unusual suspects to claim a shock Olympic gold in the men’s 100 metres, breaking retired Jamaican star Usain Bolt’s 13-year hold on the blue-riband event. American Fred Kerley took silver in a personal best of 9.84 with Canada’s Andre de Grasse repeating his bronze of 2016 in 9.89, also a new best.

In the women category: Elaine Thompson-Herah led a Jamaican sweep in the women’s 100 meters at the Tokyo Summer Games, capturing gold in an Olympic-record time of 10.61 seconds. Thompson-Herah’s time was also the second-fastest women’s 100 of all time. Veteran teammate Shelly-Ann Fraser-Pryce took the silver in 10.74 seconds while Shericka Jackson, also of Jamaica, was third in 10.76. Teahna Daniels of the U.S. was seventh in 11.02.

 

2. US clinches CONCACAF Gold Cup in football: United States clinched an exhilarating 1-0 extra-time win over defending champion Mexico to claim a seventh CONCACAF Gold Cup. Just three minutes were left in extra time when the US defender head-butted a cross by Kellyn Acosta past Mexican goalkeeper Alfredo Talavera. This was the American team’s first Gold Cup title since 2017 and avenged a defeat to Mexico in 2019 final. Mexico’s Hector Herrera was the Tournament’s Best Player. US Matt Turner, who recorded five clean sheets, was voted Best Goalkeeper. Almoez Ali of Qatar received the Top Scorer Award.

 

BANKING AND FINANCE

 

1. HDFC Bank launches ‘Dukandar Overdraft Scheme’: HDFC Bank announced the launch of an overdraft facility for small retailers in partnership with CSC SPV. Known as ‘Dukandar Overdraft Scheme’. The scheme by HDFC Bank is aimed at helping shopkeepers and merchants ease their cash crunch. According to the bank, retailers operating for a minimum of three years are eligible for the scheme by providing six months bank statement from any bank. HDFC Bank will approve an overdraft limit from a minimum of Rs 50,000 to a maximum of Rs 10 lakhs based on the statements. Importantly, HDFC Bank won’t seek collateral security, business financials, and income tax returns from retailers who apply for the scheme.

Note: Headquarters of HDFC Bank: Mumbai, Maharashtra; MD and CEO of HDFC Bank: SashidharJagdishan; The tagline of HDFC Bank: We understand your world.

 

2. RBI imposes penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank: Reserve Bank of India has imposed a penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank, Nashik for non-compliance with certain regulatory requirements. The penalty on Janalaxmi Co-operative Bank has been imposed for non-compliance with directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks’ and ‘Membership of Credit Information Companies (CICs)’.  A statutory inspection conducted by RBI with reference to the bank’s financial position as on March 31, 2019, and the inspection report pertaining thereto, and examination of all related correspondence revealed non-compliance with the directions.

 

BUSINESS AND ECONOMY

 

1. Indian Bank signs MoU with IIT Bombay for startup financing: Indian Bank has entered into a Memorandum of Understanding with the Society for Innovation and Entrepreneurship (SINE) – an initiative of the Indian Institute of Technology, Bombay – for extending exclusive credit facilities to startups and MSMEs. The Bank will extend loans of up to 50 crore rupees to these start-ups for their working capital requirements or purchase of machinery and equipment. As the name goes, this initiative, which is mutually beneficial for both Bank and IIT, Bombay, will be the springboard for start-ups to realise their ambitions.

About the SINE: SINE, IIT, Bombay is the forerunner in setting up joint R&D with industries and supporting start-up incubation. SINE, IIT, Bombay provides support to the MSME sector by providing joint research and development arrangements and technical and financial support for incubation and acceleration of high-end technology products.

Note: Indian Bank Headquarters: Chennai; Indian Bank CEO: PadmajaChunduru; Indian Bank: 1907.

 

2. Bvlgari appoints Priyanka Chopra as its global brand ambassador: Italian luxury brand Bvlgari has appointed actor Priyanka Chopra Jonas as global brand ambassador. She will support the Roman high jewellery house in amplifying the brand around the world, with a particular focus on themes of women empowerment, diversity and inclusion. Bvlgari is known for its gemstone jewellery, watches, fragrances, accessories and leather goods.

Priyanka Chopra Jonas is also a global UNICEF Goodwill Ambassador, and recipient of the prestigious Danny Kaye Humanitarian award, serving as a symbol of power and strength for millions of young women.

 

DEFENCE

 

1. Operation Blue Freedom: Team of Special Forces Veterans: The government of India has accorded sanctions to Team CLAW to lead a team of people with disabilities to scale Siachen Glacier. It will be a new world record for the largest team of people with disabilities. This expedition is being undertaken as part of ‘Operation Blue Freedom’. It aims to shatter the common perception of pity, charity, and inability associated with people with disabilities and recreate it to one of dignity, freedom, and ability.

About the Operation Blue Freedom: Operation Blue Freedom was launched in 2019 by CLAW Global, a team of former Special Forces Operatives of the Indian Army and the Indian Navy. The Operation is a social impact venture aimed at rehabilitating people with disabilities through adaptive adventure sports. Moreover, their focus is also to ‘design and implement sustainable large-scale employment solutions’ for people with disabilities, especially in the ‘Environment conservation and Sustainability’ spaceNATIONAL UPDATES:

 

1. Union Minister of Science & Technology releases “Biotech-PRIDE”: The Union Ministry for Science & Technology has released “Biotech-PRIDE (Promotion of Research and Innovation through Data Exchange) Guidelines”. The Biotech-PRIDE Guidelines have been developed by the Department of Biotechnology (DBT). The guidelines are aimed at providing a well-defined framework and guiding principle to facilitate and enable sharing and exchange of biological knowledge, information and data.

The guidelines will be implemented through the Indian Biological Data Centre (IBDC). The exchange of information will help in promoting research and innovation in different research groups across the country. These guidelines do not deal with the generation of biological data but are an enabling mechanism to share and exchange information and knowledge generated as per the existing laws, rules, regulations and guidelines of the country.

Note: Union Minister for Science & Technology: Jitendra Singh.

 

2. Bhubaneswar becomes first Indian city to vaccinate 100% against COVID-19: Bhubaneswar has become the first Indian city to achieve 100 per cent COVID-19 vaccination. The Bhubaneswar Municipal Corporation (BMC) had launched a massive vaccination drive against Covid-19. This milestone is credited to the BMC running 55 centres at all times for vaccines. BMC has a record of around nine lakh people who are above 18 years of age in the city. Which includes around 31 thousand healthcare workers, 33 thousand front-line workers. 5 lakh 17 thousand people are in the age group of 18 to 44 years. Three lakh twenty-five thousand people are above 45 years of age.

Note: Chief Minister of Odisha: Naveen Patnaik and Governor is Ganeshi Lal.

 

3. Govt announces special economic & comprehensive package of Rs. 29.87 lakh under AtmaNirbhar Bharat: Government had announced a special economic and comprehensive package of 29.87 lakh crore rupees under AtmaNirbhar Bharat during last financial year. Finance Minister Nirmala Sitharaman said that the aim of this package was to combat the impact of the Covid-19 pandemic in the country. She said that the Government has announced a number of measures to support broad based and inclusive economic development including a 34.5 percent increase in capital expenditure and 137 percent increase in health expenditure in the current Union Budget.

 

4. Govt to set up Centre for Bio-Resources & Sustainable Development in Northeast: Ministry of Science and Technology will set up a first-of-its-kind Centre of Excellence in the Northeast. The prestigious project for establishing Centre for Bio-Resources and Sustainable Development as a Centre of Excellence was sanctioned by the Department of Biotechnology and is complete for formal inauguration shortly. The location of the project is at Kimin in district Papum Pare in Arunachal Pradesh. The construction of the new building as well other infrastructure has been completed.

 

5. Centre to invest Rs324 crore to expand laboratory testing infrastructure: The Union government will set up over 42 virology research and diagnostic laboratories under a central scheme during the period of 15th Finance Commission (2021-22 to 2025-26) at a cost of Rs324 crore. The scheme under the Department of Health Research (DHR), Indian Council of Medical Research (ICMR) aims to help boost coverage of timely diagnosis and identification of viruses during an epidemic outbreak, generation of data about viral diseases for facilitating quick deployment of resources and measures to save human lives.

 

INTERNATIONALUPDATES:

 

1. NikolPashinyan Re-appointed as PM of Armenia: NikolPashinyan has been re-appointed as the prime minister of Armenia by President Armen Sarkissian on August 02, 2021. Pashinyan, the leader of the Civil Contract Party, won the majority of seats in parliamentary elections in June 2021. The 46-year-old Pashinyan was first appointed as the prime minister in 2018.

Note: Armenia Capital: Yerevan; Currency: Armenian dram.

 

2. Myanmar Military Chief appointed as interim Prime Minister: The Chief of the Myanmar military, Senior General Min Aung Hlaing has taken over as the interim prime minister of the country. He is also the Chairman of the State Administration Council (SAC) which has been performing the duties of the government in Myanmar, after the February 01, 2021 coup, which overthrew Aung San Suu Kyi’s ruling party. This SAC has been reformed as the caretaker government of Myanmar in order to perform the country’s duties fast, easily and effectively. Min Aung Hlaing is also been the commander-in-chief of Defence Services of Myanmar since March 2011. Hlaing has pledged to hold elections by 2023.

Note: Myanmar Capital: Naypyitaw; Myanmar Currency: Kyat.

 

3. ISRO-NASA joint mission NISAR Satellite to be launched in 2023: The ISRO-NASA joint mission NISER (NASA-ISRO Synthetic Aperture Radar) satellite, aimed at making global measurement of land surface changes using advanced radar imaging, is proposed to be launched in early 2023. It is a dual-band (L-band and S-band) radar imaging mission with the capability of full polarimetric and interferometric modes of operation to observe minor changes in land, vegetation and cryosphere.

NASA is developing L-band SAR and associated systems while ISRO is developing S-band SAR, spacecraft bus, the launch vehicle and associated launch services. The major scientific objectives of the mission are to improve understanding of the impact of climate change on Earth’s changing ecosystems, land and coastal processes, land deformations and cryosphere. NISER is one of the crucial collaborations of the ISRO and NASA. India and the U.S. had agreed upon this mission during then-President Barack Obama’s visit to India in 2015.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

NASA administrator: Bill Nelson; Headquarters of NASA: Washington D.C., United States; NASA Founded: 1 October 1958.

 

OTHER UPDATES:

 

SPORTS

 

1. Italy’s Marcell Jacobs wins men’s 100m gold at Tokyo Olympics 2020: Italy’s Lamont Marcell Jacobs outshone a field of unusual suspects to claim a shock Olympic gold in the men’s 100 metres, breaking retired Jamaican star Usain Bolt’s 13-year hold on the blue-riband event. American Fred Kerley took silver in a personal best of 9.84 with Canada’s Andre de Grasse repeating his bronze of 2016 in 9.89, also a new best.

In the women category: Elaine Thompson-Herah led a Jamaican sweep in the women’s 100 meters at the Tokyo Summer Games, capturing gold in an Olympic-record time of 10.61 seconds. Thompson-Herah’s time was also the second-fastest women’s 100 of all time. Veteran teammate Shelly-Ann Fraser-Pryce took the silver in 10.74 seconds while Shericka Jackson, also of Jamaica, was third in 10.76. Teahna Daniels of the U.S. was seventh in 11.02.

 

2. US clinches CONCACAF Gold Cup in football: United States clinched an exhilarating 1-0 extra-time win over defending champion Mexico to claim a seventh CONCACAF Gold Cup. Just three minutes were left in extra time when the US defender head-butted a cross by Kellyn Acosta past Mexican goalkeeper Alfredo Talavera. This was the American team’s first Gold Cup title since 2017 and avenged a defeat to Mexico in 2019 final. Mexico’s Hector Herrera was the Tournament’s Best Player. US Matt Turner, who recorded five clean sheets, was voted Best Goalkeeper. Almoez Ali of Qatar received the Top Scorer Award.

 

BANKING AND FINANCE

 

1. HDFC Bank launches ‘Dukandar Overdraft Scheme’: HDFC Bank announced the launch of an overdraft facility for small retailers in partnership with CSC SPV. Known as ‘Dukandar Overdraft Scheme’. The scheme by HDFC Bank is aimed at helping shopkeepers and merchants ease their cash crunch. According to the bank, retailers operating for a minimum of three years are eligible for the scheme by providing six months bank statement from any bank. HDFC Bank will approve an overdraft limit from a minimum of Rs 50,000 to a maximum of Rs 10 lakhs based on the statements. Importantly, HDFC Bank won’t seek collateral security, business financials, and income tax returns from retailers who apply for the scheme.

Note: Headquarters of HDFC Bank: Mumbai, Maharashtra; MD and CEO of HDFC Bank: SashidharJagdishan; The tagline of HDFC Bank: We understand your world.

 

2. RBI imposes penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank: Reserve Bank of India has imposed a penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank, Nashik for non-compliance with certain regulatory requirements. The penalty on Janalaxmi Co-operative Bank has been imposed for non-compliance with directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks’ and ‘Membership of Credit Information Companies (CICs)’.  A statutory inspection conducted by RBI with reference to the bank’s financial position as on March 31, 2019, and the inspection report pertaining thereto, and examination of all related correspondence revealed non-compliance with the directions.

 

BUSINESS AND ECONOMY

 

1. Indian Bank signs MoU with IIT Bombay for startup financing: Indian Bank has entered into a Memorandum of Understanding with the Society for Innovation and Entrepreneurship (SINE) – an initiative of the Indian Institute of Technology, Bombay – for extending exclusive credit facilities to startups and MSMEs. The Bank will extend loans of up to 50 crore rupees to these start-ups for their working capital requirements or purchase of machinery and equipment. As the name goes, this initiative, which is mutually beneficial for both Bank and IIT, Bombay, will be the springboard for start-ups to realise their ambitions.

About the SINE: SINE, IIT, Bombay is the forerunner in setting up joint R&D with industries and supporting start-up incubation. SINE, IIT, Bombay provides support to the MSME sector by providing joint research and development arrangements and technical and financial support for incubation and acceleration of high-end technology products.

Note: Indian Bank Headquarters: Chennai; Indian Bank CEO: PadmajaChunduru; Indian Bank: 1907.

 

2. Bvlgari appoints Priyanka Chopra as its global brand ambassador: Italian luxury brand Bvlgari has appointed actor Priyanka Chopra Jonas as global brand ambassador. She will support the Roman high jewellery house in amplifying the brand around the world, with a particular focus on themes of women empowerment, diversity and inclusion. Bvlgari is known for its gemstone jewellery, watches, fragrances, accessories and leather goods.

Priyanka Chopra Jonas is also a global UNICEF Goodwill Ambassador, and recipient of the prestigious Danny Kaye Humanitarian award, serving as a symbol of power and strength for millions of young women.

 

DEFENCE

 

1. Operation Blue Freedom: Team of Special Forces Veterans: The government of India has accorded sanctions to Team CLAW to lead a team of people with disabilities to scale Siachen Glacier. It will be a new world record for the largest team of people with disabilities. This expedition is being undertaken as part of ‘Operation Blue Freedom’. It aims to shatter the common perception of pity, charity, and inability associated with people with disabilities and recreate it to one of dignity, freedom, and ability.

About the Operation Blue Freedom: Operation Blue Freedom was launched in 2019 by CLAW Global, a team of former Special Forces Operatives of the Indian Army and the Indian Navy. The Operation is a social impact venture aimed at rehabilitating people with disabilities through adaptive adventure sports. Moreover, their focus is also to ‘design and implement sustainable large-scale employment solutions’ for people with disabilities, especially in the ‘Environment conservation and Sustainability’ space.