Daily GK Update- 31st July, 2022

NATIONAL UPDATES:

 

1. Gujarat becomes first Indian state to launch semiconductor policy 2022-27: The Gujarat government has announced a dedicated ‘Gujarat Semiconductor Policy 2022-27’ with a view to generating at least 2,00,000 new employment opportunities during a period of five years. The Gujarat government has also decided to develop a “semicon city” which would be a part of the Dholera Special Investment Region. The projects approved under the Design-linked Incentive scheme of the Government of India will not be eligible for availing of the benefits under the new policy, said the state government press release. Under the new policy:

a)      The state government will provide heavy subsidies on power, land and water tariffs for entrepreneurs interested in investing in semiconductors or display fabrication manufacturing.

b)      The primary objective of the current government is to make Gujarat a forerunner in developing the Electronics System Design & Manufacturing (ESDM) ecosystem.

c)       As per reports, the Gujarat policy focuses on guiding a significant portion of investments made under these India Semiconductor Mission (ISM) policies towards Gujarat.

d)      The policy will provide additional capital assistance at 40 per cent of the capex assistance extended by the Centre for the projects approved under ISM.

e)      The semiconductor policy will provide assistance to one project each, semiconductor and display fabrication. In case of multiple applications, the State-appointed high-powered committee will make recommendations on the basis of credentials of projects.

 

2. Chhattisgarh CM launched ‘Mahtari Nyay Rath’ for women rights awareness: To educate the state’s women about their constitutional rights and laws, the Chhattisgarh Women Commission will host the Mukhyamantri Mahtari Nyay Rath Yatra. On the occasion of the Hareli Tihaar festival, Chief Minister Bhupesh Baghel will set off the “Mukhyamantri Mahtari Nyay Rath“. Through short films, messages, and booklets, the chariots will visit all of the districts to educate people about the legal protections for women and their constitutional rights.

Two attorneys will ride in each chariot, listening to women’s complaints and offering information and counsel. Through these carts, women will be able to apply to the Women’s Commission for the resolution of their complaints. Nationally recognised instructional short films in Hindi and Chhattisgarhi will be shown on a sizable LED screen. For Mahtari Nyay Rath, the state government has made specific adjustments to the DMF policy. The district will operate Nyay Rath with the DMF money it has received.

Note: Chief Minister of Chattisgarh: Bhupesh Baghel

 

3. Punjab to host the PUNJAB KHED MELA from August 29: The Punjab Sports Department will host the Punjab Khed Mela, which will feature 30 sporting activities in six age divisions for competitors between the ages of 14 and 60. The event’s goals are to find talent, create a welcoming environment for sports, and raise public awareness of health. Key Points:

a)      On August 29, National Sports Day, the Punjab Khed Mela, which will take place from the block to the state level, will officially begin. Sports Minister Gurmeet Singh Meet Hayer made this announcement in Chandigarh.

b)      Three lakh Punjabi athletes are expected to take part in the Sports Mela, according to the sports minister.

c)       Athletics, Weightlifting, Badminton, Cricket, Cycling, Shooting, Archery, Bodybuilding, Fencing, Gymnastics, Rowing, Football, Softball, Hockey, Netball, Handball, Kick Boxing, Judo, Archery, Kabaddi, Gatka, Kho-Kho, Volleyball, Lawn Tennis, Table Tennis, Boxing, Swimming, Wrestling, and Tug of War are just a few of the sports in which competitions will be held.

 

4. India’s first teaching robot, introduced by Indus International School: As part of a collaborative learning strategy at its schools, Indus International School has launched the innovative and first Teaching Robot in India, the Eagle Robot. Three of the Indus Schools have 21 Eagle Robots deployed, with seven in each of Hyderabad, Bangalore, and Pune. Eagle Robot is very interactive, personalises the experience, and emulates emotions through the digital face.

Key Points:

a)      Eagle Robot is capable of instructing kids in grades 5 through 11 both alone and in a classroom setting with a human teacher.

b)      More than 30 different languages can be used to transmit knowledge, and with the use of analytics, they can answer queries, clear up confusion, and administer an automated exam at the conclusion of the lesson.

c)       All scientific and humanities courses, including languages, are taught by eagle robots. Children can interact with the robot’s evaluation and material through mobile, tablet, or laptop devices.

d)      To raise the standard of instruction at government schools in Karnataka, Indus International School has already deployed 30 robots.

 

INTERNATIONAL UPDATES:

 

1. Pranay Kumar Verma named as new High Commissioner of India to Bangladesh: Pranay Kumar Verma, an experienced diplomat and IFS official from the 1994 batch, has been chosen to serve as India’s next High Commissioner to Bangladesh. He is currently the ambassador of India to Vietnam.

Sandeep Arya, an IFS officer from the 1994 batch, has also been named as India’s new ambassador to the Socialist Republic of Vietnam. Sandeep Arya is currently employed by the Ministry of External Affairs as an Additional Secretary.

 

2. Egypt signs $8 billion agreement with India for Suez Canal Economic Zone: Egypt and an Indian company have signed a memorandum of understanding (MoU) to construct a green hydrogen factory in the Suez Canal Economic Zone, according to a cabinet announcement.

Key Points:

a)      According to the Chairman of the renewable energy company, ReNew Power and the Egyptian government signed a preliminary deal to invest up to $8 billion to create green hydrogen there.

b)      ReNew is one of numerous Indian businesses exploring the potential of green hydrogen, which is thought to be essential for decarbonizing difficult-to-reduce heavy industries.

c)       In the upcoming years, ReNew plans to generate 2,20,000 tonnes of the clean fuel yearly in Egypt with backing from investors including the Goldman Sachs Group and the Abu Dhabi Investment Authority.

d)      To support Prime Minister Narendra Modi‘s goal of making India a global leader in this field, public sector majors and conglomerates controlled by Gautam Adani and Mukesh Ambani have committed significant investments in the green hydrogen value chain.

 

3. World Ranger Day: 31st July: World Ranger Day is observed on 31st July every year. The International Ranger Federation established this day to honour the contribution of Park Rangers to the preservation of nature. World Ranger Day offers a chance to support their vital work, which ranges from environmental campaigning to education. The day is also an opportunity to pay tribute to rangers who have lost their lives in the line of duty.

 

OTHER UPDATES:

 

SPORTS

 

1. 22nd Commonwealth Games kicks off at Birmingham, UK: The 22nd edition of the Commonwealth Games kicked off with a glitzy opening ceremony at the Alexander Stadium in Birmingham, United Kingdom. The Prince of Wales, reading out from the Queen’s letter, declares the Games open. A total of 72 teams took part in the parade into Birmingham’s Alexander Stadium. PV Sindhu and Manpreet Singh were India’s flag-bearers at the parade of the CWG opening ceremony. Key Points:

a)      A total of 54 nations are participating in this sports extravaganza and 6,500 athletes will compete in 280 medal events.

b)      The event will be held till the 8th of August.

c)       A 215-member Indian contingent, which includes 111 male players and 104 female players, will compete in 15 sporting events in Birmingham.

 

2. ICC Members List: Cambodia, Uzbekistan and Cote D’Ivoire receives membership status: The International Cricket Council has awarded membership status to three countries during the ongoing ICC Annual Conference in Birmingham. Cambodia and Uzbekistan from Asia, and Cote D’Ivoire from Africa, were all awarded Associate membership status, taking ICC’s total members to 108 countries, including 96 Associates. The two Asian teams take the total count of Asian countries to 25 while Cote D’Ivoire is the 21st country from Africa.

Major criteria to gain ICC Membership:

a)      A major criteria to gain ICC Membership is detailed in ‘Participation and domestic structures’ of Clause 2.1 (d) of the ICC Membership Criteria.

b)      This includes having in place a proper structure with minimum team requirements for 50-over and 20-over tournaments, aside from clear junior and women’s pathways.

c)       The three new countries satisfied these conditions, with the Cricket Federation of Uzbekistan’s (CFU) women’s cricket plan involving 15 teams playing organised competitions with a pathway programme for their Under-19 and Under-17 players.

 

3. Cabinet authorises signing of guarantees for FIFA Under 17 Women’s WC in India: The signing of the guarantees for hosting the FIFA Under 17 Women’s World Cup in India in 2022 has been accepted by the Union Cabinet, which is presided over by Prime Minister Narendra Modi. The FIFA U-17 Women’s World Cup 2022 is slated to take place in India from October 11 to October 30. The seventh iteration of the biennial youth competition will mark India’s first-ever hosting of a FIFA women’s championship. Key Points:

a)      The budgetary allotment for the Scheme of Aid to National Sports Federations will be used to cover the financial outlay of Rs 10 crore assistance to the All India Football Federation (AIFF) for field of play maintenance, stadium power, energy & cabling, stadium & training site branding, etc.

b)      At the moment, Spain is the FIFA Under-17 Women’s World Cup champion. The seventh iteration of the FIFA U-17 Women’s World Cup will take place in India in 2022 will include 16 nations, including India.

c)       Three locations have been suggested by the AIFF for the competition matches, Bhubaneshwar, Navi Mumbai, and Goa. The FIFA Under-17 Men’s World Cup India-2017 was successfully held in India at six different locations.

 

BUSINESS AND ECONOMY

 

1. India Received Highest Annual FDI Inflows of USD 84.8 billion In FY 21-22: India received the highest annual Foreign direct investment (FDI) inflows of almost $85 billion in FY 21-22. India is rapidly emerging as a preferred country for FDI in the manufacturing sector. FDI Equity inflow in Manufacturing Sectors have increased by 76% in FY 2021-22 ($ 21.34 billion) compared to previous FY 2020-21.

India’s Position In the World: As per the UNCTAD World Investment Report (WIR) 2022, in its analysis of the global trends in FDI inflows, India has moved to 7th rank among the top 20 host economies for 2021.

Highest FDI Contributors Country-wise: Singapore (27.01%) > USA (17.94%) > Mauritius (15.98%) > Netherland (7.86%) > Switzerland (7.31%)

Top 5 States receiving the highest FDI Equity Inflow during FY 2021-22 :

a)      Karnataka (37.55%),

b)      Maharashtra (26.26%),

c)       Delhi (13.93%),

d)      Tamil Nadu (5.10%) and

e)      Haryana (4.76%)

 

2. Talgo and Bharat Forge inks a contract for the production of trains: A joint venture to produce high-speed passenger trains has been established by BF Infrastructure Ltd., a fully owned subsidiary of Bharat Forge Ltd., and Talgo India Pvt Ltd., a fully owned subsidiary of Spanish manufacturer Patentes Talgo S.L. The cooperation will take advantage of forthcoming local requirements in the field as well as new economic prospects in the railways sector.

Key Points:

a)      The Atmanirbhar Bharat programme of the Union government is anticipated to benefit from this collaboration. It will assist in bringing cutting-edge, high-speed rail technology and solutions.

b)      The planned partnership will concentrate on establishing a hub for production, maintenance, and life cycle support for the next generation of lightweight, energy-efficient high-speed trains made of aluminium.

c)       The project comes after the Indian Railways issued a tender for the production and upkeep of 100 new generation, lightweight, and energy-efficient trains.

 

DEFENCE

 

1. INS Vikrant: Navy receives India’s first indigenous aircraft carrier: The indigenous aircraft carrier Vikrant, which was created by the Navy’s own Directorate of Naval Design and will likely be commissioned on Independence Day, was delivered to the Navy by the Cochin Shipyard. It bears the name of the Indian Naval Ship (INS) Vikrant, India’s first aircraft carrier, which was an important participant in the war of 1971. The 262-meter-long carrier is significantly larger and more modern than her predecessor, with a full displacement of around 45,000 tonnes. The aircraft carrier has a top speed of 28 knots and is propelled by four gas turbines with a combined 88 MW of power. Key Points:

a)      The project was completed in three phases, with the last one ending in May 2007, the second in December 2014, and the third in October 2019, at a total cost of just under Rs 20,000 crore. In February 2009, its keel was laid.

b)      The aircraft carrier, which has a total indigenous content of 76%, is a prime illustration of the pursuit of Aatma Nirbhar Bharat and gives the government’s Make in India initiative a boost, according to the Navy.

c)       With the delivery of Vikrant, India has joined a small group of countries with the specialised capacity to design and construct an aircraft carrier domestically.

d)      Vikrant was developed to support a variety of fixed-wing and rotary aircraft and features a high level of automation for ship navigation, machinery operation, and survivability.

e)      The ship would be able to fly a 30 aircraft air wing, including indigenously produced advanced light helicopters and light combat aircraft, Kamov-31, MH-60R multi-role helicopters, MIG-29K fighter planes, and light combat aircraft.

 

2. Two MH-60 Romeo helicopters delivered to the Indian Navy: At Cochin International Airport, the American Navy delivered two MH-60 R multipurpose helicopters to the Indian Navy. All 24 MH 60R helicopters will be delivered by the end of 2025, with the third helicopter due to arrive in August of this year. Under its Foreign Military Sales (FMS) programme, the US Department of State has authorised the sale of 24 MH-60R multi-mission helicopters to India. The potential is about USD 2.6 billion. Key Points:

a)      With the proposed sale, India will have the ability to carry out secondary tasks including vertical replenishment, search and rescue operations, and communications relay in addition to anti-surface and anti-submarine warfare operations. India will use the improved capabilities to reinforce its domestic defence and act as a deterrent to regional threats.

b)      Under its Foreign Military Sales (FMS) programme, the US had already authorised the sale of 24 MH-60R multi-mission helicopters to India in 2019. To increase the security of a significant defensive partner in the Indo-Pacific area, the approval was given.

c)       The most cutting-edge maritime multi-mission helicopter in operation right now is the MH-60R. Modern mission-capable platforms will considerably improve the Indian Navy’s overall capabilities to conduct anti-submarine warfare.

d)      In 2021, the US received the first three MH 60 ‘Romeo’ helicopters, which are now being used to educate the crew of the Indian Navy.

e)      As part of an around $15,000 crore contract with the US government and in accordance with the framework of foreign military sales, India is purchasing the helicopters. Modern avionics and sensors equip the all-weather MH-60R helicopter, made by Lockheed Martin Corporation, to handle a variety of missions.

 

 

 

 

 

 

 

 

 

 

 

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Daily GK Update- 30th July, 2022

 

NATIONAL UPDATES:

 

1. PM Narendra Modi launches International Bullion Exchange IIBX in GIFT-City: Prime Minister Narendra Modi has launched the ‘India International Bullion Exchange (IIBX)’, at the Gujarat International Finance Tec-City (GIFT City) near Gandhinagar, Gujarat. IIBX is India’s first international bullion exchange. The exchange, which was announced in Budget 2020, will sell physical gold and silver. The exchange will be open for jewellers with a net worth of Rs 25 crore and above to participate. International Bullion Exchange (IIBX):

a)      This will allow qualified jewellers to directly import gold through IIBX.

b)      The International Financial Services Centres Authority (IFSCA) is the regulator of IIBX.

c)       IIBX is promoted by five market institutional investors i.e., CDSL, India INX, NSDL, NSE and MCX. This exchange will bring transparency to the price-setting mechanism; provide standardisation to the financialisation of the bullion in India; and work as a standard-setting tool for the quality of the bullion.

d)      NRIs and institutes will also be eligible to participate in the exchange after registering with the International Financial Services Centre Association (IFSCA).

e)      In the early stage, gold 1 kg with 995 purity and gold 100 grams with 999 purity will be traded with a settlement period of T+0. Further, the exchange is expected to extend the settlement period to T+2 days.

f)        Ashok Gautam will head IIBX as MD and CEO. He took charge in February 2022 and worked with IDBI Bank before this. He has earlier worked with the State Bank of India (SBI).

Other inaugurations in GIFT-City:

a)      PM Modi also laid the foundation stone for the headquarters building of the International Financial Services Centres Authority at GIFT-City.

b)      Modiji also launched the NSE IFSC-SGX Connect platform. Connect is a framework between NSE’s subsidiary in GIFT IFSC and Singapore Exchange. Through this platform, clients, investors and trading members of SGX who used to trade in NSE listed Indian securities through SGX would now trade in these securities through NSE IFSC.

 

2. Kerala govt to launch “Kerala Savari” online cab service: The Kerala government is all set to come up with an alternative to the popular corporate online cab service by launching its own e-taxi service next month, considered to be the first such initiative by any state government in the country. The service named ‘Kerala Savari’, the online taxi hiring service is being rolled out by the state. This is for the first time that a state government is launching an online taxi service in the country.

About the “Kerala Savari”: “Kerala Savari”, considered to be the first such initiative by any state government in the country, is being rolled out by the state Labour Department linking the existing auto-taxi networks in the state with an aim to ensure safe and dispute-free travel for the public at affordable rates prevailing in the state. The new service would be launched in a function to be held at Kanakakkunnu Palace here on the beginning day of the auspicious Malayalam month of Chingam, which falls on August 17.

Note: Kerala Governor: Arif Mohammad Khan; Kerala Capital: Thiruvananthapuram; Kerala Chief Minister: Pinarayi Vijayan.

 

3. ISRO generated $279 million in foreign currency through satellite launches: Dr. Jitendra Singh, India’s Minister of State for Science and Technology, said in front of the parliament that the launch of foreign satellites by the Indian Space Research Organization (ISRO) brought in $279 million in foreign currency. Antrix, the commercial arm of ISRO, made this money by launching 345 foreign satellites from 34 different nations. 56 million of these gains were paid out in dollars, while 223 million were paid out in euros (220 million Euros). There are 2,226 crore rupees in the total. Key Points:

a)      The Polar Satellite Launch Vehicles (PSLV) of ISRO were used to launch each of these spacecraft.

b)      Since 1975, the Indian government has launched 342 foreign spacecraft in addition to 129 domestic ones, which illustrates the success of ISRO’s commercial satellite programme.

c)       About 83 percent of these international satellite launches took place after 2015.

d)      Germany was the first nation to use Indian services to launch a satellite, and since then, ISRO has gone a long way, launching a total of 345 foreign satellites. In the 23 years since its ground-breaking debut, it has successfully launched 11 satellites for Germany.

e)      Among the first nations to launch a satellite with ISRO was South Korea.

f)        In comparison to the United States, the United Kingdom, and Canada, India has launched the most satellites, at least according to ISRO data up to January 2022.

g)      In actuality, the ISRO did not launch any satellites for the USA until 2015. However, following this, there was no turning back for India-US space cooperation because, according to K Sivan, the former ISRO director, the US accounts for 66% of all foreign satellite launches by ISRO. ISRO has launched numerous non-government satellites for the US.

h)      For the launch of foreign satellites onboard PSLV between 2021 and 2023, NewSpace India Limited (NSIL), India’s first space PSU, has already signed six launch contracts with customers from four different countries. NSIL started operating in 2019.

Note: ISRO Chairman: Dr. K Sivan; ISRO’s foundation Date: 15th August, 1969; ISRO’s Founder: Dr. Vikram Sarabhai

 

INTERNATIONAL UPDATES:

 

1. UAE, France, and India conduct discussions for maritime security: The focal points for India, France, and the United Arab Emirates met in trilateral fashion. Maritime Security, Humanitarian Aid and Disaster Relief, Blue Economy, Regional Connectivity, Cooperation in Multilateral Fora, Energy and Food Security, Innovation and Startups, Supply Chain Resilience, and Cultural and People-to-People Cooperation were some of the potential areas of trilateral cooperation that the three sides discussed. Attendees of the Meeting:

a)      The French side was led by Director (Asia and Oceania) Bertrand Lortholary and Deputy Director (the Middle East and North Africa) Emmanuel Suquet of the French Ministry for Europe and Foreign Affairs

b)      The Emirati side was led by Deputy Director of the Economic and Trade Affairs Department of the UAE Foreign Ministry Ahmed Burhaima.

c)       The Indian side was led by Joint Secretary (Europe West) in the Ministry of External Affairs and Joint Secretary (Gulf) Vipul.

India and France Marine Relations:

a)      India and France are maritime nations with thriving maritime economies that include, to name a few, fisheries, ports, shipping, and marine technology and scientific research. The fate is tightly entwined with the sea and the ocean since they possess enormous exclusive economic zones.

b)      Both countries want to advance their own communities through the blue economy while protecting the environment and coastal and marine biodiversity. Both nations seek to advance scientific understanding, promote ocean conservation, and maintain the ocean as a global common, an area conducive to free trade and the application of the law.

c)       The two nations established a Strategic Partnership in 1998, which, in addition to their tight and developing bilateral connection, is symbolic of their agreement on a variety of international concerns.

India and UAE Marine Relations:

a)      In 1972, they established diplomatic ties. The Indian Embassy in the UAE was established in 1973, whereas the UAE opened their embassy in India in 1972.

b)      Based on long-standing cultural, religious, and economic links between the two countries, India and the UAE have close friendships.

 

2. Roshni Nadar retained as India’s richest woman for 2nd year in a row: HCL Technologies’ Chairperson, Roshni Nadar Malhotra has retained her position as the richest woman in India, for the second year in a row according to the third edition of ‘Kotak Private Banking Hurun – Leading Wealthy Women List’. The total net worth of Roshni Nadar stood at Rs 84,330 crore. Roshni Nadar was followed by Nykaa-owner Falguni Nayar, overtaking Kiran Mazumdar-Shaw of Biocon, with a total wealth of Rs 57,520 crore. Falguni Nayar is the world’s tenth richest self-made woman. The report highlighted that 25 new faces have made it to the list. The other key highlights of the report include that the average wealth of women in 2021 went up to Rs 4,170 crore as against Rs 2,725 crore in the last edition of the list.

Here is the list of the top 10 richest women in India:

Rank	Name	Company	Wealth/Net worth (INR)
1	Roshni Nadar Malhotra	HCL	84, 330 crore (wealth)
2	Falguni Nayar	Nykaa	57,520 crore (wealth)
3	Kiran Mazumdar Shaw	Biocon	29,030 crore (wealth)
4	Nilima Motaparti	Divi’s Laboratories	28,180 crore (wealth)
5	Radha Vembu	Zoho	26, 260 crore (wealth)
6	Leena Gandhi Tewari	USV	24,280 crore (wealth)
7	Anu Aga and Meher Pudumjee	Thermax	14,530 crore (wealth)
8	Neha Narkhede	Confluent	13,380 crore (wealth)
9	Vandana Lal	Dr Lal PathLabs	6,810 crore (wealth)
10	Renu Munjal	Hero FinCorp	6,620 crore (wealth)

 

3. International Friendship Day: 30th July: International Friendship Day is celebrated annually on July 30 and it was first proposed way back in the year 1958 by World Friendship Crusade, an international civil organisation. According to United Nations, the International Day of Friendship can help promote peace and social harmony among people. In India as well as many other countries, Friendship Day is also celebrated on the first Sunday of August. This year it falls on August 7, 2022.

International Friendship Day History: The International Day of Friendship was proclaimed in 2011 by the UN General Assembly with the idea that friendship between peoples, countries, cultures and individuals can inspire peace efforts and build bridges between communities. The resolution places emphasis on involving young people, as future leaders, in community activities that include different cultures and promote international understanding and respect for diversity.

 

4. World Day Against Trafficking in Persons: 30th July: World Day Against Trafficking is observed annually on 30 July to make people aware of who is being trafficked. The day aims to educate people that trafficking in persons is considered to be a crime, including the exploitation of women and children for tragic jobs of forced labour and sex. This year’s theme “Use and abuse of technology” focuses on the role of technology as a tool that can both enable and impede human trafficking.

World Day Against Trafficking in Persons History: In 2010, the United Nations General Assembly had adopted the Global Plan of Action to deal with trafficking in persons, urging governments all around the world to take coordinated and consistent efforts to defeat this scourge. In 2013, the UN General Assembly organised a high-level meeting to work on the Global Plan of Action. The member states adopted a resolution A/RES/68/192 and designated 30 July as the World Day against Trafficking in Persons. This resolution emphasised that the day was important to “raise awareness of the situation of victims of human trafficking and for the promotion and protection of their rights.”

 

OTHER UPDATES:

 

SPORTS

 

1. US wins most Gold, India places 33rd at the 2022 World Athletics Championships: The World Athletics Championships were held in America for the first time. And in terms of medals, Team USA made the most of their time over the last 10 days. India came up at number 33 overall and fourth in Asia, just behind China, Japan, and Kazakhstan. More than three times as many as any other nation in the competition, and more than any other nation has ever won at a global championship, the United States finished the competition with a total of 33 medals. This includes 13 golds, the most of any nation. Overall Medal Tally:

Rank	Country	Total Medals
1	United States	33
2	Ethiopia	10
3	Jamaica	10
33	India	1

 

Key Points:

a)      Algeria, Burkina Faso, Croatia, Greece, and South Korea have tied with India in 33rd position on the medal tally with 1 silver medal each.

b)      Men’s 100-meter dash, men’s 200-meter dash, and men’s shot put all saw American athletes sweep the podium.

c)       And Team USA’s domination at Oregon22 continued into the last day of competition.

d)      Athing Mu won gold medals in the men’s and women’s 4×400-meter relays as well as the women’s 800-meter race on Sunday, giving the United States a total of four podium finishers.

e)      With a combined total of 10 medals, Ethiopia, Jamaica, and Kenya each completed the global championships. With four gold medals, Ethiopia is in the lead, second only to China.

f)        Athletes from 43 different nations will take home at least one medal in total.

 

2. PV Sindhu named India’s flagbearer for 2022 Birmingham Commonwealth Games: Ace India badminton player P.V. Sindhu has been chosen as the flagbearer of the Indian contingent for the opening ceremony of the Commonwealth Games 2022. The opening ceremony was held on July 28, 2022, at Alexander Stadium in Birmingham. She was the flag-bearer at the opening ceremony of the 2018 Commonwealth Games on the Gold Coast, where she won silver in the women’s singles event. The 2022 edition of the Commonwealth Games has the largest contingent of female athletes in the history of the Games.

 

3. Asia Cup 2022 shifted from Sri Lanka to the UAE: As informed by the Asian Cricket Council (ACC), the Asia Cup 2022 will now be held in United Arab Emirates (UAE). Earlier this event was scheduled to take place in Sri Lanka. However, due to the economic crisis in the island nation, the tournament has been shifted to UAE. But the hosting rights of the game will still remain with Sri Lanka. The tournament will be held from August 27 to September 11, 2022, in the T20 format. This is the second consecutive time that the tournament will be played in the UAE.

The Asia Cup, last held in 2018, will be played in T20 format this time and serve as preparation for the World Cup in October. It will start with a qualifying round of matches between UAE, Kuwait, Singapore and Hong Kong. The winner will go on to the main tournament and play Sri Lanka, India, Pakistan, Afghanistan and Bangladesh.

 

BANKING AND FINANCE

 

1. Patna’s Deedargunj, Bandhan Bank unveils its first currency vault: Bandhan Bank opened its first currency chest in Deedargunj, Patna. As per the bank, this currency chest will assist individuals, MSMEs, and small business owners by supplying currency notes to bank branches and ATMs as needed. The currency chest would provide storage for the bank branches, which will also benefit from Patna’s frequent cash transactions. In this fiscal year, the bank intends to establish more than 530 additional bank locations throughout the nation. The distribution of the new branches will mostly be in North, West, and South India.

Note: Bandhan Bank MD and CEO: C S Ghosh

 

2. Union Bank sets ‘RACE’ goal as its strategy of getting among top 3 PSBs: A. Manimekhalai, MD & CEO of Union Bank of India (UBI), wants Union Bank of India to surpass other Public Sector Banks and take the third-largest Public Sector Bank position in a time of few years. Union Bank of India may even take into consideration buying a bank along the route. Manimekhalai, who became UBI’s first female leader on June 7th, emphasised that the bank has set “RACE” as its aim for the year. RACE stands for:

R: Grow RAM (retail, agriculture, and MSME) loans,

A: Improve Asset quality,

C: Boost CASA (current account, savings account deposits), and

E: Increase Earnings.

The MD of Union Bank of India wants the bank to rank among the top three PSB lenders, be the industry leader in a few niche markets, and be a contender in government-sponsored programmes. Regarding the fundamentals of being one of the top three PSBs, the bank’s profitability and net interest margin should rise, the non-performing asset ratios should drop, and the capital to risk-weighted asset ratio must rise. These are the fundamental criteria that Union Bank of India is considering and targeting.

 

BUSINESS AND ECONOMY

 

1. One of India’s largest financial deals, Axis Bank-Citi merger, gets approved by CCI: The acquisition of Citibank, N.A. and Citicorp Finance (India) Limited’s consumer banking operations by Axis Bank has been approved, according to the Competition Commission of India (CCI). The acquisition had been disclosed by the firms. According to CCI, the transaction entails the going-concern slump sale of Citibank and Citicorp’s consumer banking operations to Axis.

Key Points:

a)      Citigroup Inc. and Axis Bank Limited have signed a deal for the sale of Citi’s consumer businesses in India. Citi chose Axis after a lengthy and intense auction process.

b)      The deal entails the sale of Citibank India’s consumer banking operations, including its credit card, retail banking, wealth management, and consumer lending businesses.

c)       In addition, Citigroup’s non-banking financial subsidiary, Citicorp Finance (India) Limited, is selling its consumer business, which comprises its portfolio of personal loans as well as its asset-backed financing business, which includes loans for commercial vehicles and construction equipment.

 

AWARDS AND HONOURS

 

1. Boris Johnson gives Churchill Leadership Award to Ukraine’s Zelenskyy: British Prime Minister, Boris Johnson has presented Ukrainian President Volodymyr Zelenskyy with the Sir Winston Churchill Leadership Award, drawing comparisons between the two leaders in times of crisis. Zelenskyy accepted the award by video link during a ceremony at Johnson’s London office that was attended by members of the Churchill family, Ukrainian Ambassador Vadym Prystaiko and Ukrainians who have received training from British soldiers.

About the Churchill leadership award: The Churchill leadership award was first presented in 2006. Past recipients include Prince Charles, former British Prime Ministers Margaret Thatcher and John Major, and former US Secretary of State Madeleine Albright.

 

OBITUARIES

 

1. Famous UK-based Punjabi singer Balwinder Safri passes away: Veteran Punjabi singer Balwinder Safri has passed away. He was 63. Punjab-born Safri, who was based in Birmingham, was part of the UK bhangra scene since 1980 and formed the Safri Boyz Band in 1990. Safri, known for hit Punjabi tracks such as “Rahaye Rahaye” and “Chan Mere Makhna”, slipped into coma in April after suffering brain damage following a heart surgery. He was discharged from New Cross Hospital in Wolverhampton on July 15 after recovering from coma and was moved to a specialist rehabilitation centre.

 

2. Padma Shri awardee Sushovan Banerjee passes away: Padma Shri Sushovan Banerjee famous as Bengal’s ‘one rupee doctor’ has passed away. Based in Bolpur, Birbhum district, Banerjee was known for treating patients for nearly 60 years at Re 1 per visit. In 2020, he was conferred with the Padma Shri for his contribution in the field of medicine. In the same year, his name found a place in the Guinness World Records for treating the maximum number of patients.