NATIONAL UPDATES:
1.
Indian Olympics contingent to be Guests at Independence Day: Prime Minister
Narendra Modi will invite India’s Olympic contingent as special guests for
Independence Day celebrations on August 15. Modi will also invite contingent to
his residence for interaction. This year, India has been represented by a
228-strong contingent that includes 120 athletes at the Tokyo Olympics. PM
Narendra Modi supported and encouraged the Olympians throughout the events. He
also congratulated the winners and appreciated the ones who made India proud.
2.
Union Cabinet approves continuation of 1,023 fast track special courts: The Union Cabinet
has approved the continuation of 1,023 fast track special courts, including 389
exclusive POCSO courts, as a centrally sponsored scheme for another two years.
Union minister Anurag Thakur said out of 31 states and union territories, 28
have started the scheme. West Bengal is one of the states which has not started
the scheme. The scheme would continue from April 1, 2021, to March 31, 2023,
with an outlay of Rs 1572.86 crore — Rs 971.70 crore as central share and Rs
601.16 crore as state share. The central share is to be funded from the
‘Nirbhaya’ Fund. The scheme was launched on October 2, 2019.
To bring more stringent provisions and
expeditious trial and disposal of such cases, the Criminal Law (Amendment) Act,
2018 was enacted which made provision of stringent punishment, including the
death penalty, for perpetrators of rape. This led to the establishment of the
fast track special courts. These are dedicated courts expected to ensure swift
dispensation of justice. They have a better clearance rate as compared to the
regular courts and hold speedy trials. Besides providing quick justice to the
victims, it strengthens the deterrence framework for sexual offenders.
3. A
book on Leopard titled ‘Leopard Diaries – the Rosette in India’ by Sanjay
Gubbi: Wildlife
Biologist, Sanjay Gubbi authored a book about Leopard titled ‘Leopard Diaries –
the Rosette in India’, in which he says about the food habits, ecological
context, and conservation of Leopard along with the suggestions to overcome
leopard–human conflict. The book also details Sanjay Gubbi’s practical engagement
as a conflict manager, adviser to the State government, and leopard PR (Public
Relations) person. The book was published by Westland. Leopard is one of the
five extant species in the genus Panthera, a member of the cat family, Felidae.
As per the government’s report, Madhya Pradesh has the highest number of
leopards, about 26 per cent of the total number estimated in the country.
INTERNATIONALUPDATES:
1.
ShehrozeKashif becomes world’s youngest mountaineer to scale K2: A 19-year old
Pakistani climber ShehrozeKashif became the youngest person in the world to
reach the summit of K2, the second-highest peak in the world. ShehrozeKashif
from Lahore achieved the feat of scaling the 8,611-metre high peak with the aid
of bottled oxygen. Before Kashif, SajidSadpara, the son of the legendary
climber Muhammad Ali Sadpara, was the youngest person to have climbed K2 at the
age of 20. Kashif also scaled the world’s 12th-highest mountain, the
8,047-meter Broad Peak, at the age of 17. In May this year, he became the
youngest Pakistani to scale Mount Everest. Pakistan, Nepal, and China are home
to the 14 highest peaks in the world, also known as the 8,000ers. Five
8,000-metre peaks, including K2 and Nanga Parbat, are in Pakistan.
Note: Pakistan Capital: Islamabad; Pakistan
President: ArifAlvi; Pakistan Prime minister: Imran Khan; Pakistan Currency:
Pakistani rupee.
2.
Mumbai, Bengaluru lose top-100 spots in QS Best Student Cities Ranking: Mumbai and
Bengaluru are out of the global top-100 list and are currently ranking at 106
and 110, respectively in the latest edition of the QS Best Student Cities
Ranking. While Mumbai lost 29 places, Bengaluru fell by 21 places in the ninth
edition of the rankings brought out by global higher education analysts QS
Quacquarelli Symonds. Globally, the results, which enable students to compare
115 premier educational destinations, see London retain its status as the
world’s best student city for the third consecutive edition. It is followed by
Munich, which rises from 4th to 2nd. Seoul, which jumps from 10th to joint-3rd,
shares the bronze-medal position with Olympic hosts Tokyo.
3.
ESA launched ‘Eutelsat Quantum’ revolutionary reprogrammable Satellite: European Space
Agency (ESA) launched ‘Eutelsat Quantum’, the world’s 1st commercial
reprogrammable satellite into space aboard Ariane 5 rocket from French Guiana.
It is a fully flexible software-defined satellite. The satellite has been
developed under a European Space Agency partnership project with satellite
operator Eutelsat, Airbus & Surrey Satellite Technology.
A reprogrammable satellite allows the user
to repurpose it even after being launched into orbit. It can be reprogrammed in
real-time to suit the changing purposes of the user. The Quantum satellite is
capable of responding to changing demands for data transmission and secure
communication during its lifespan of 15 years and will cover the areas from
West Africa to Asia. The satellite will remain in geostationary orbit for its
15-year lifespan, after which it will be safely placed in a graveyard orbit
away from Earth to avoid becoming a risk to other satellites.
About the Satellite: Eutelsat Quantum
is a UK flagship project with most of the satellites developed and manufactured
by British industry. Airbus is the prime contractor and was responsible for
building the satellite’s innovative payload, while Surrey Satellite Technology
Ltd manufactured the new platform. The innovative phase array antenna was
developed by Airbus in Spain.
Note: European Space Agency is an
intergovernmental organization of 22 member states; European Space Agency was
established in 1975 and headquartered in Paris.
OTHER UPDATES:
SPORTS
1.
Tokyo Olympics 2020: Boxer LovlinaBorgohain Claims Bronze Medal: Indian Boxer,
LovlinaBorgohain has failed to reach the gold medal final match. She settles
for a bronze medal. This is India’s third medal of the ongoing Tokyo Olympics.
She lost to BusenazSurmeneli of Turkey by unanimous decision in the women’s
welterweight (69 kg) semifinal at Tokyo 2020. Lovlina had already assured India
of their first boxing medal at the ongoing Olympic Games when she upstaged
former world champion, Nien-Chin Chen of Taiwan, to enter the semis.
2.
India wins bronze in men’s hockey, beat Germany 5-4: Indian men’s hockey
team defeated Germany to win their first-ever Olympic medal in 41 years. India
wins the bronze medal in men’s hockey after beating Germany 5-4 at Tokyo
Olympics. Before this podium finish for bronze, India last climbed up the
Olympic podium in 1980, when it won its 8th gold at the Games. Simranjeet Singh
scored two goals for India at the Oi Hockey Stadium, along with Hardik Singh,
Harmanpreet Singh and Rupinder Pal Singh also adding their names on the
scoresheet.
BANKING AND FINANCE
1.
RBI Authorises IndusInd Bank to act as an ‘Agency Bank’: The IndusInd Bank
has been empanelled by the Reserve Bank of India (RBI) to act as an ‘Agency
Bank’. As an Agency Bank, IndusInd becomes eligible to carry out transactions
related to all kinds of government-led businesses. This decision is based on
the RBI guideline that authorises scheduled private sector banks as agency
banks of the regulator for the conduct of government business. IndusInd Bank
now joins few other private banks of the country listed as Agency Bank of RBI,
to carry out general banking business on behalf of the central and state
government, apart from offering its customers the convenience of undertaking
routine financial transactions through its banking platform.
As an empanelled ‘Agency Bank’, IndusInd
Bank can perform certain transactions such as:
(1) Handle transactions pertaining to
revenue receipts under CBDT, CCBIC and GST on behalf of the state/central
government.
(2) Make transactions for pension payments
on behalf of state/central government work related to Small Savings Schemes
(SSS).
(3) Collection of stamp duty charges, and
collection of stamp duty from citizens for the franking of documents.
(4) Undertake the collection of state taxes
such as professional tax, VAT, state excise etc. on behalf of various state
governments, among other things.
Note: The IndusInd Bank CEO:
SumantKathpalia; The IndusInd Bank Headquarters: Pune; The IndusInd Bank Owner:
Hinduja Group; The IndusInd Bank Founder: S. P. Hinduja; The IndusInd Bank
Founded: April 1994, Mumbai.
2.
Mini Ipe appointed as LIC MD ahead of proposed IPO: Mini Ipe took
charge as managing director of Life Insurance Corporation of India. Ipe is a
post-graduate in commerce and joined LIC in 1986 as a direct recruit officer.
She has a diverse experience in LIC having worked in various capacities. Before
taking charge as managing director, she was executive director, legal
department, LIC of India. Mini Ipe was the first woman zonal manager
(in-charge) of LIC and headed SCZO, Hyderabad. She has also worked as executive
director (international operations), director and CEO of LICHFL Financial
Services Ltd. She has also worked as regional manager (P&IR) and regional
manager (estate) of the western zone. Ipe joins the team of other MDs at LIC,
including Mukesh Kumar Gupta, Raj Kumar and Siddhartha Mohanty.
Note: LIC Headquarters: Mumbai; LIC
Founded: 1 September 1956; LIC Chairman: M R Kumar.
BUSINESS AND ECONOMY
1.
GoI cuts Mudra loans target to Rs 3 trillion in FY22: The government has
set the loans disbursement target under the PM Mudra Yojana (PMMY) at Rs 3
trillion for 2021-22 (FY22). This target is lower than the previous year. For
FY21, the target was set at Rs 3.21 trillion. Experts attribute the lower
target to increased allocation under the credit guarantee scheme for small
businesses. Under PMMY, credit up to Rs 10 lakh is provided by banks and
non-banking financial companies for entrepreneurial activities to small
business units, including for new enterprises in sectors such as manufacturing,
trading, services and activities allied to agriculture. The central government
allocates annual targets for sanctioning of loans under the scheme. In FY22,
loans worth Rs 3,804 crore have been sanctioned by 13 public sector banks
(PSBs) as of June 25.
DEFENCE
1.
Ordnance Factory launches new weapon ‘Trichy Carbine’: The Ordnance
Factory Tiruchirappalli (OFT) in Tamil Nadu launched a new high-tech and low
sound weapon called TriCa (Trichy Carbine), a mini version of the Trichy
Assault Rifle (TAR). It was unveiled by General Manager of OFT Sanjay Dwivedi,
IOFS (Indian Ordnance Factories Service) during a function.Features of
TriCa:
Size of TriCa: 7.62 X 39 mm portable weapon
launched on the carbine platform
Weight of TriCa: 3.17 kg (including the
magazine) and
Range of TriCa: 150 to 175 metres
The lighter and compact weapon, carbine
TriCa is designed for the infantry combat vehicle, helicopter crew and security
personnel for operations that call for a compact and relatively powerful
individual automatic weapon. The weapon is also for paratroopers, police and
security personnel guarding highly secure facilities such as airports, and for
use by the Special Operation Forces.
2.
IAF inducts 2nd squadron of Rafale aircraft at West Bengal’s Hasimara: The Indian Air
Force (IAF) has formally inducted the second squadron of Rafale jets at West
Bengal’s Hasimara airbase in Eastern Air Command (EAC). The event included a
fly-past heralding the arrival of Rafale to Hasimara, followed by a traditional
water cannon salute. Recalling the glorious history of 101 Squadron, which
bestowed upon them the title of ‘Falcons of Chamb and Akhnoor’, Bhadauria urged
the personnel to combine their zeal and commitment with the unmatched potential
of the newly inducted platform.
Hasimara is the second IAF base to be
equipped with Rafale aircraft. The first squadron of the Rafale jets is
stationed at Ambala Air Force station. India has so far received 26 Rafale
aircraft out of the 36 it has ordered from Dassault Aviation. The first batch
of five Rafale jets arrived in India on 29 July 2020, nearly four years after
India signed an inter-governmental agreement with France to procure 36 aircraft
at a cost of ₹59,000 crores. The Rafale jets are India’s first major
acquisition of fighter planes in 23 years after the Sukhoi jets were imported
from Russia. The Rafale jet is capable of carrying a range of potent weapons.
About the Rafale jets: The multi-role Rafale jets, built by French aerospace major Dassault Aviation, are known for air superiority and precision strikes. European missile maker MBDA’s Meteor beyond visual range air-to-air missile and Scalp cruise missile will be the mainstay of the weapons package of the Rafale jets.
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