NATIONAL UPDATES:
1.
Kerala Government to Launch Mobile App to Curb GST Evasion: The Kerala
government is set to launch a mobile app where people can upload original bills
and also stand a chance to win prizes. The government of Kerala aims to curb
GST evasion with this app. The app is named ‘Lucky Bill App’ and it will be
launched on 16th August 2022, by Chief Minister Pinarayi Vijayan.
Key Points:
a)
The
state government expects this will help increase tax collection as people will
be encouraged to ask for bills while purchasing goods and availing services.
b)
The
government is looking for new ways to support the revenue and financial status
of the state with this app.
c)
The
app is capable enough to help the state’s GST department to examine return
filings with the help of uploaded bills.
d)
This
initiative of the state government was proposed when the compensation from the
center concerning the Goods and Services Tax has ceased.
e)
Finance
Minister K N Balagopal has allocated a budget of ₹5 crores for the introduction
of the ‘Lucky Bill App’.
2.
‘Radio Jaighosh’ launched by CM Yogi on Kakori Train Action anniversary: As part of the
celebrations for Azadi Ka Amrit Mahotsav, Uttar Pradesh Chief Minister Yogi
Adityanath debuted “Radio Jaighosh” to commemorate the anniversary of the
Kakori Train Action. To promote performing arts, regional specialties from
Uttar Pradesh, folk art, and gallantry award recipients, the state’s Department
of Culture is developing a community radio station and also the “Radio
Jaighosh” is a part of it. From the recently restored studio of the Sangeet
Natak Akademi in Lucknow, “Radio Jaighosh” will be audible at 107.8 MHz and
will air programmes from 6 am to 10 pm every day. The Radio Jaighosh’s mobile
application and social media pages will also have access to the programmes. Radio
Jaighosh:
a)
The
daily radio programmes “Parakram” and “Shaurya Nagar” will feature folktales
from all 75 of the state’s districts and feature valiant troops from both the
pre- and post-Independence eras as well as unsung heroes on the “Radio
Jaighosh”.
b)
Kala
Yatra will focus on performing arts, Rajya ki Rasoi on Uttar Pradesh’s
delicacies, Rang Shala on theatre performers, Rajya ki Raftaar on government
initiatives, and Rang Yatra on visual arts on the “Radio Jaighosh”.
c)
Additionally,
there will be regular shows on education on the “Radio Jaighosh”.
3.
New Delhi hosted the ITU’s Regional Standardization Forum: New Delhi hosted
ITU’s Regional Standardization Forum where Devusinh Chauhan, Minister of State
for communications delivered a speech at the opening ceremony of the
International Telecommunication Union’s Regional Standardization Forum for Asia
and Oceania. According to Devusinh Chauhan, the nation’s telecommunications
network is the second largest in the world and offers the best prices. Highlights
of the Regional Standardization Forum:
a)
According
to RSF, the market-friendly policies of the Union Government were responsible
for the nation’s telecommunications network growth.
b)
Chauhan
emphasised that the three pillars of Ease of Doing Business, Ease of Living,
and Aatmanirbhar Bharat constitute the foundation of India’s telecommunications
policy, which was developed under Prime Minister Narendra Modi’s direction.
c)
The
Minister claimed that the industry’s vote of confidence in the government’s
initiatives was reflected in the outcome of the 5G spectrum auction.
d)
In
order to solve the digital divide, Prime Minister Narendra Modi has established
a clear roadmap.
e)
The
country’s six lakh villages will all receive optical fibres as well as 4G
mobile coverage as part of this project.
4.
Union Minister Dr Jitendra Singh releases book ‘Rusty Skies & Golden Winds’: Union Minister of
State (IC) of the Ministry of Science and Technology, Dr. Jitendra Singh,
launched a poetry book titled ‘Rusty Skies and Golden Winds’ written by 11
years old Sannidhya Sharma, student of class 7th, here at Jammu. The book is
published by Blue-Rose Publishers. The Union Minister lauded the efforts of the
little author in crystallising his thoughts in the shape of a collection of his
poems and his rare achievement at this tender age and wished him a bright
future.
The essence of the book: The 100 book page
is an anthology of 40 poems in which the budding author defines the nature of
the world, at the moment. He lets himself be carried away by the unknown force
and eyes the blood on the paper bravely. Throughout the book, the author wishes
for a gust of golden winds, and sends his soul on an adventure to discover all
those shallow thoughts buried in the soils of time as he lifelessly stares into
the rusty skies of dust.
5.
Zoological Survey of India (ZSI) Published a Book on 1000+ Bird Species: The Zoological
Survey of India (ZSI) covered about 1,331 different bird species that can be
found in India in a field guide that was written by ZSI. According to ZSI
Director Dhriti Banerjee, unlike prior books that mostly used drawings, it
emphasizes high-quality images of birds. The identification of each species is
essential for accurate documentation.
INTERNATIONAL UPDATES:
1.
Russia successfully launched Iran’s satellite into orbit: Russian rocket has
successfully launched an Iranian satellite into orbit from southern Kazakhstan.
An Iranian satellite named Khayyam into orbit by the Soyuz rocket from the
Russia-leased Baikonur launch facility in Kazakhstan. The name of the satellite
was named after Omar Khayyam, a Persian scientist who lived in the 11th and
12th centuries. The satellite fitted with the high-resolution camera will be
used for environmental monitoring and will remain fully under its control.
“Khayyam” Iranian satellite:
a)
Iran
says the satellite is designed for scientific research including radiation and
environmental monitoring for agricultural purposes. Iran’s space agency has
received the first telemetry data sent from the satellite.
b)
Iran
has said the satellite fitted with the high-resolution camera will be used for
environmental monitoring and will remain fully under its control.
c)
If
it operates successfully, the satellite would give Iran the ability to monitor
its archenemy Israel and other countries in the Middle East.
Note: Russia Capital: Moscow; Russia
Currency: Rubel; Russia President: Vladimir Putin.
OTHER UPDATES:
SPORTS
1.
Prabath Jayasuriya and Emma Lamb bags ICC Player of the Month for July 2022: The International
Cricket Council (ICC) has announced Sri Lankan spin sensation Prabath
Jayasuriya and England batting all-rounder Emma Lamb as the winners of its
Player of the Month awards for July 2022.
Prabath Jayasuriya: Prabath
Jayasuriya claims the ICC Men’s Player of the Month award on the back of an
outstanding series of displays with the ball, where his remarkable haul of
wickets sees him crowned ahead of rival contenders England’s Jonny Bairstow.
Jayasuriya beat England star batsman Jonny Bairstow and France’s Gustav McKeon
for the coveted monthly award.
Emma Lamb: Emma Lamb was
voted the ICC Women’s Player of the Month for July following her thrilling
start to life opening the batting in England’s victorious ODI series victory
over South Africa. Lamb consistently laid the foundations for her side to claim
victory in each of the three matches, with her most notable contribution coming
in the first match in Northampton. Lamb secures the ICC Women’s Player of the
Month award at the first time of asking, overcoming fellow nominees; England’s
Nat Sciver and India’s Renuka Singh.
2.
Tennis legend Serena Williams Announces Her Retirement from Tennis: Tennis legend
from the United States, Serena Williams has announced her retirement. Williams
focused on her family in the announcement, writing that her nearly
five-year-old daughter wants to be an older sister. Williams is married to
Reddit founder Alexis Ohanian. The career of Serena Williams:
a)
Williams,
who turns 41 next month, has 73 career singles titles, 23 career doubles titles
and over $94 million in career winnings.
b)
Her
first major singles title came at the U.S. Open in 1999 at age 17. The next
year, she won the first of three Olympic doubles titles with older sister
Venus. She also won singles gold at the 2012 London Games.
c)
She
has counted sponsorships from companies including Nike, Audemars Piguet, Away,
Beats, Bumble, Gatorade, Gucci, Lincoln, Michelob, Nintendo, Wilson Sporting
Goods, and Procter and Gamble.
3.
Chess Olympiad 2026 to be hosted by Uzbekistan: According to a
tweet from the International Chess Federation (FIDE), Uzbekistan will host the
2026 Chess Olympiad. In Chennai’s ongoing Chess Olympiad, their young team is
now in the lead. Teams from around the world compete in the Chess Olympiad, a
biennial chess competition. The event is organised by FIDE, which also chooses
the host nation. In the midst of the COVID-19 pandemic, FIDE hosted an online
chess tournament in 2020 and 2021 with a quick time limit that harmed
competitors’ online ratings. About Chess Olympiad 2026:
a)
Each
chess association recognized by FIDE is permitted to enter a team into the
Olympiad.
b)
Up
to five players can make up a team: four active players and one reserve. Each
team used to play every other team at first, but as the event developed over
time, this became impossible.
c)
Prior
to the competition, teams were first seeded. Later, once several flaws in
seeding were discovered, a Swiss tournament system was implemented in 1976.
d)
The
Hamilton-Russell Cup, presented by English tycoon Frederick Hamilton-Russell as
a prize for the first Olympiad, is the trophy for the winning team in the open
division (London 1927).
e)
The
victorious team keeps the cup until the following competition, after which it
is given to the subsequent victor.
BANKING AND FINANCE
1.
SBI Formalises Policy To Finance Makers Of Lab-grown Diamonds: State of Bank of
India (SBI) is the first Indian lender to frame a policy to fund makers of
lab-grown diamonds which come across as replicas of the natural stones, but are
often looked at with suspicion by high-street banks and scoffed at by many
traditional diamantaires.
Why Is This A Important Move: Reflecting the
slow shift in the diamond trade, the decision by the country’s largest bank
comes amid some of the jewellers putting up factories in Surat to produce
synthetic diamonds and many diamond houses considering relocating from the
financial capital Mumbai to the southern Gujarat town, which for decades has
been the hub of diamond cutters and polishers.
2.
RBI authorises HR subsidiary of SBI to manage cost effectively: The Reserve Bank
of India preliminary approved the operations and support subsidiary of State
Bank of India (SBI). The subsidiary will likely be staffed by a group of
employees who will be hired by the arm on a contract basis and will initially
focus on managing branches in rural and semi-urban areas. Recruits made by
State Bank Operations Support Services may not be qualified for the benefits,
according to sources. Key Points:
a)
Sanjeev
Naryani will probably be in charge of the HR division. Before joining the
Kolkata-based private sector lender Bandhan Bank in 2019, Naryani worked for
SBI for 32 years.
b)
For
the Indian banking sector, SBI’s HR subsidiary would be the first of its sort;
other banks might follow.
c)
In
the past, numerous lenders sought approval from the regulator for actions of
this nature by a subsidiary but were denied.
d)
Now
that the RBI has approved SBI’s proposal, several lenders may decide to move
through with the project.
e)
The
RBI has given SBI permission to establish an Operation Support Subsidiary to
assist RUSU (rural and semi-urban) branches in outreach for agro and MSME
lending activities, among other things.
BUSINESS AND ECONOMY
1. In
India, 7.3% Of the Population Owned Digital Currency in 2021: Over seven percent
of India’s population owns digital currency, according to the UN, which said
the use of cryptocurrency rose globally at an unprecedented rate during the
Covid-19 pandemic.
The UN trade and development body, UNCTAD
said in 2021, developing countries accounted for 15 of the top 20 economies
when it comes to the share of the population that owns cryptocurrencies.
Ukraine topped the list with 12.7 per cent, followed by Russia (11.9 per cent),
Venezuela (10.3 per cent), Singapore (9.4 per cent), Kenya (8.5 per cent), and
the US (8.3 per cent). In India, 7.3 per cent of the population owned digital
currency in 2021, ranking seventh in the list of top 20 global economies for
digital currency ownership as share of population.
Issues Related With This: In three policy
briefs published, it said that while these private digital currencies have
rewarded some and facilitate remittances, they are an unstable financial asset
that can bring social risks and costs. The policy brief titled “All that
glitters is not gold: The high cost of leaving cryptocurrencies unregulated”
examines the reasons for the rapid uptake of cryptocurrencies in developing
countries, including facilitation of remittances and as a hedge against
currency and inflation risks. It said that recent digital currency shocks in the
market suggest that there are private risks to holding crypto, but if the
central bank steps in to protect financial stability, then the problem becomes
a public one.
DEFENCE
1.
Indian Army & DFI launched ‘Him Drone-a-thon’ programme: The Indian Army
has launched the Him Drone-a-thon programme in collaboration with the Drone
Federation of India. The initiative is in line with self-reliance in defence
manufacturing. It is aimed at providing opportunities to the Indian drone
ecosystem to develop path-breaking drone capabilities for meeting the
requirements of frontline troops. In the 1st phase, drones will be developed
for use in Army operations in the Himalayas.
Memorandum of understanding between
DFI and Army Design Bureau: The Drone Federation of India (DFI) and the Army
Design Bureau (ADB) signed a memorandum of understanding to accelerate drone
technology development and indigenisation in the drone ecosystem in the country
at a time when the world is witnessing a swift transition from traditional warfare
to a technology-driven one.
2.
Indo-US Joint Special Forces Exercise ‘Vajra Prahar 2022 begins in Himachal
Pradesh:
The India-US Joint Special Forces exercise “Ex Vajra Prahar 2022”, began on
August 08, 2022, at the Special Forces Training School in Bakloh, Himachal
Pradesh. Ex Vajra Prahar 2022 is the 13th edition of the annual exercise. The
main objective of this joint exercise is to share the best practices and
experiences in areas such as joint mission planning and operational tactics.
The Indian Army contingent is represented by drawing Special Forces personnel
under the aegis of SFTS, while the US contingent is represented by personnel
from the 1st Special Forces Group (SFG) and Special Tactics Squadron (STS) of
the US Special Forces.
About the Ex Vajra Prahar 2022:
a)
This
joint annual exercise is hosted alternatively between India and the US to share
the best practices and experiences in areas such as joint mission planning and
operational tactics.
b)
According
to the Defence Ministry, during the course of the next 21 days, teams of both
armies would jointly train, plan and execute a series of special operations,
counter-terrorist operations, and airborne operations in simulated conventional
and unconventional scenarios in mountainous terrain.
c) This joint exercise is a significant step in strengthening the traditional bond of friendship between the special forces of both nations as well as improving bilateral defence cooperation between India and the US.
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