NATIONAL UPDATES:
1.
Kerala leads in hosting legislative sessions in 2021: Kerala, which
dropped to eighth place in terms of convening Assembly sessions during the
initial COVID-19 pandemic in 2020, regained first place in 2021 with the
nation’s longest House session at 61 days. The PRS Legislative Research, a
think tank with its headquarters in New Delhi, published the research on the
operation of State Assemblies for 2021. Key Points:
a)
The
guidelines for how legislatures should operate were set forth by the National
Commission to Review the Working of the Constitution (2000–2002), which was
presided over by former Chief Justice of India M.N. Venkatachaliah.
b)
The
Houses of State/UT legislatures should convene for at least 50 days a year for
those with fewer than 70 members, like Puducherry, and at least 90 days for
those with more members.
c)
The
Presiding Officers’ Conference, which took place in Gandhinagar in January
2016, recommended that State legislatures meet for at least 60 days per year.
d)
The
PRS notes that 23 State Assemblies met for an average of 25 days between 2016
and 2021.
Other Important Highlights of the
Report:
a)
Karnataka
came in second with 40 sitting days, followed by Tamil Nadu with 34, and Odisha
with 43.
b)
The
average number of State legislature sessions would have been far less than the
current figure of 21 days if not for the top three States.
c)
17
of the 28 State Assemblies and the assembly of one Union Territory convened for
fewer than 20 days.
d)
Five
of them (Andhra Pradesh, Nagaland, Sikkim, Tripura, and Delhi) convened for
fewer than ten days.
e)
17,
16, and 11 were the numbers for Uttar Pradesh, Manipur, and Punjab,
respectively.
2. WB
to form 7 new districts, making a total of 30 districts: The Mamata
Banerjee-led West Bengal government has chosen to create seven new districts in
the state in an effort to streamline administrative procedures. With this,
there are currently 30 districts in West Bengal as a whole. There used to be 23
districts in Bengal, but the number will become 30. Sunderban, Ichhemati,
Ranaghat, Bishnupur, Jangipur, Behrampur, and one more district would be named
in Basirhat are among the seven new districts, according to West Bengal Chief
Minister Mamata Banerjee.
Note: Capital of West Bengal: Kolkata;
Chief Minister of West Bengal: Mamta Banerjee
3.
Satyendra Prakash assume charges as new Principal DG, Press Information Bureau: Senior Indian
Information Service officer, Satyendra Prakash has been appointed as the
Principal Director General of the Press Information Bureau (PIB). A 1988 batch
Indian Information Service (IIS) officer, Prakash, the Principal Director
General of the Central Bureau of Communication, will succeed Jaideep Bhatnagar,
who superannuated.
Another appointment: Manish Desai,
Director General of the West zone of the PIB, will succeed Satyendra Prakash in
the Central Bureau of Communication. A 1989 batch IIS officer, Desai has worked
in various media units of the Ministry of I&B, like DAVP, AIR News, Prasar
Bharati, and the Indian Institute of Mass Communication.
Note: The Press Information Bureau was
established in June 1919.
4. Kargil
War: Point 5140 at Dras in Kargil sector named as Gun Hill: Indian Armed Forces
and pay tribute to the supreme sacrifice of the Gunners in “Operation Vijay”,
Point 5140 at Dras in the Kargil sector has been christened as Gun Hill.
Regiment of Artillery of the Indian Army, with lethal and accurate firepower,
was able to have a telling effect on the enemy troops and their defences
including Point 5140, which was the key factor in the early completion of
operations.
The ceremony was conducted in the presence
of Veterans from all Artillery Regiments, which got the honour title “KARGIL”
in Operation Vijay. Serving Officers of the Gunner fraternity were also present
on the occasion. On July 26, 1999, the Indian Army announced the successful
culmination of ‘Operation Vijay’, declaring victory after a nearly
three-month-long battle with Pakistani troops on the icy heights of Kargil in
Ladakh.
INTERNATIONAL UPDATES:
1.
Zimbabwe launched gold coins as legal tender to tackle inflation: Zimbabwe has
launched gold coins to be sold to the public in a bid to tame runaway inflation
that has further eroded the country’s unstable currency. The unprecedented move
was announced by the country’s central bank, the Reserve Bank of Zimbabwe, to
boost confidence in the local currency. The coin is called ‘Mosi-oa-Tunya’
which refers to Victoria Falls in the local Tonga language. The coins will have
liquid asset status so that they could be easily converted to cash and locally
and internationally tradable. The cost of one coin was $1,824 at the time of
launch.
2.
Indian Women Savitri Jindal replaces China’s Yang Huiyan to become Asia’s
Richest Woman:
Savitri Jindal, the Chairperson Emeritus of OP Jindal Group, has surpassed
China’s Yang Huiyan to become Asia’s richest woman, as per the real-time
Bloomberg Billionaires Index. The 72-year-old Savitri Jindal who also holds the
position of the richest woman in India has a total fortune of $11.3 billion.
Jindal’s net worth has fluctuated wildly in recent years. It fell to $3.2 billion
in April 2020 at the start of the Covid-19 pandemic, then to $15.6 billion in
April 2022 due to a rise in commodity prices following Russia’s invasion of
Ukraine. Key points:
a)
The
fortune of Yang Huiyan, owner of China’s largest real estate developer ‘Country
Garden Holdings’, dropped by more than half in 2022, from $ 24 billion to $11
billion. She had been Asia’s richest woman for the past five years.
b)
Jindal,
72, is India’s richest woman and the 10th-richest person in the country. She
became the chairwoman of the Jindal Group shortly after her husband died in a
helicopter crash in 2005.
OTHER UPDATES:
SPORTS
1.
Commonwealth Games 2022: Mirabai Chanu wins India’s first gold medal: Daughter of India,
weightlifter Mirabai Chanu has won India’s first Gold Medal at the Commonwealth
Games 2022 in the Women’s 49Kg weightlifting category. She aggregated a total
of 201kg (88kg+113kg) to stamp her authority in the competition and achieve a
Commonwealth Games record in the process. The silver went to Mauritius’ Marie
Hanitra Roilya Ranaivosoa (172kg) and the bronze to Canada’s Hannah Kaminski
(171 kg).
2.
Commonwealth Games 2022: Bindiyarani Devi wins silver medal: Another
Weightlifter of India, Bindyarani Devi (55kg) has clinched a silver in the
women’s 55kg as India continued its medal rush at the Commonwealth Games. She
lifted a total weight of 202kg (86kg+116kg). Nigeria’s Adijat Adenike Olarinoye
also obliterated the Games record in snatch and total effort with an aggregate
of 203kg (92kg+111kg) to win the gold medal. Local favourite Fraer Morrow
finished third with a total lift of 198kg (86kg+109kg).
3.
Commonwealth Games 2022: Jeremy Lalrinnunga wins Gold in men’s 67 kg
weightlifting:
India’s Jeremy Lalrinnunga has won the gold medal in men’s 67 kg category
weightlifting at the 2022 Commonwealth Games. The 19-year-old Youth Olympic
champion lifted a total of 300kg (140kg+160kg) to get the first position. This
is the second gold for the country and fifth medal overall. Samoan weightlifter
Vaipava Nevo Ioane secured a silver medal with a lift of 293 (127kg + 166kg)
and Nigeria’s Edidiong Joseph Umoafia won bronze, 290kg (130kg+160kg).
4.
Commonwealth Games 2022: Weightlifter Achinta Sheuli clinch gold medal: India’s
weightlifter, Achinta Sheuli (73 Kg representative) bagged the gold medal in
The Commonwealth Games 2022. The 20-year-old claimed the yellow metal with a
combined effort of 313 Kilograms (143kg in snatch and 170kg in clean &
jerk). India has been performing exceptionally well in weightlifting as the
contingent has already bagged 6 medals in this edition.
Malaysia’s Erry Hidayat Muhammad, who gave
Sheuli a tough competition, ended as the second-best lifter in the event. He
had the best effort of 303kg (138kg 165kg). Canada’s Shad Darsigny was third
with a total lift of 298kg (135kg 163kg).
5.
Max Verstappen wins F1 Hungarian Grand Prix 2022: Max Verstappen
(Red Bull – Netherlands) has won the Formula One (F1) 2022 Hungarian Grand Prix
2022. This is his overall 28th race win and the 10th win of the 2022 season.
Lewis Hamilton (Mercedes-Great Britain) stood second and George Russell
(Mercedes – Britain) came third.
6.
England beats Germany in Women’s Euro 2022: The European Championship final saw
England defeat Germany 2-1 to claim its first significant women’s soccer
championship. After Germany failed to successfully clear a corner, Chloe Kelly
scored the game-winning goal on a rebound in the second period of extra time.
At Wembley Stadium, the score was tied 1-1 after 90 minutes thanks to goals
from Germany’s Lina Magull and England’s Ella Toone. The result was decided in
extra-time.
After leading her native Netherlands to
victory in 2017, England coach Sarina Wiegman made history by becoming the
first manager to win the Euros with two separate teams. The 87,192 spectators,
a record for either a men’s or women’s Union of European Football Associations
(UEFA) competition, demonstrated the expansion of women’s football in Europe
since England and Germany last competed for a continental championship 13 years
ago.
BANKING AND FINANCE
1.
October 1 set as the card tokenization deadline by RBI: In a circular
issued, the Reserve Bank of India (RBI), instructed all parties—aside from card
networks and card issuers—to delete all previously stored Card-on-File (CoF)
data by October 1, 2022. The RBI has granted the respite in order to facilitate
a smooth transition to a different payment system. In addition, the merchant
and its PA involved in the online transaction may keep the data for a maximum
of T+4 days or until the settlement date, whichever comes first, aside from the
card issuer and the card network.
The data needs to be erased when the
transaction has been settled. Up to January 31, 2023, the acquiring banks maintain
CoF data on file for use in managing any post-transaction activity.
Furthermore, the RBI will take the proper action, which may include placing
business limitations, if any of the parties fails to comply.
Card-on-File (CoF) Data: In the event that
a card is reissued, the Card-on-File Data Inquiry is intended to give
information about the merchants that cardholders may have kept their cards on
file with and whether or not those merchants have received updated card
information.
Note: Governor of Reserve Bank of India:
Shaktikanta Das; Headquarters of Reserve Bank of India: Mumbai
BUSINESS AND ECONOMY
1.
NSE and BSE approve of Zee’s merger with Sony Pictures: The BSE and NSE
stock exchanges have given Zee Entertainment their approval for Zee
Entertainment’s proposed merger with Sony Pictures Networks India. According to
a statement by Zee Entertainment Enterprises Ltd., both the Bombay Stock
Exchange (BSE) and the National Stock Exchange (NSE) have accepted the planned
merger with Culver Max Entertainment Private Limited (formerly Sony Pictures
Networks India). The stock exchanges’ approval is a decisive and encouraging
step in the merger approval process as a whole. Key Points:
a)
The
clearances allow ZEEL to move forward with the general merger process’ upcoming
steps. The composite plan of organisation must still receive all necessary
governmental and other approvals, nevertheless.
b)
Following
the conclusion of an exclusive negotiation period during which both parties
engaged in reciprocal due diligence, the two media organisations had signed
final agreements for the merger of ZEEL with SPNI in December of the previous
year.
c)
According
to the announcement, the acquisition is subject to a number of standard closing
conditions, including shareholder, regulatory, and third-party clearances.
More About the Agreement:
a)
The
promoter founders of ZEEL will receive a non-compete fee from Sony Pictures
Entertainment Inc. as part of the arrangement.
b)
They
will utilise this money to inject primary equity capital into SPNI.
c)
This
would provide them the right to purchase SPNI shares, which eventually would
represent roughly 2.11 percent of the combined company’s shares on a post-closing
basis.
d)
Punit
Goenka, the CEO of ZEEL, will serve as the combined company’s Managing Director
& CEO. The Sony Group will nominate the majority of the board of directors
candidates for the combined company.
Note: CEO of Sony Pictures Network: Anthony
“Tony” Vinciquerra; CEO, Sony Pictures Networks India: NP Singh
DEFENCE
1.
3rd India-Vietnam Bilateral Army Exercise “Ex VINBAX 2022” begins in Haryana: The 3rd edition of
Vietnam-India Bilateral Army Exercise “Ex VINBAX 2022” is conducted at
Chandimandir, Haryana from August 1 to 20, 2022. The theme of Ex VINBAX 2022 is
the “Employment and deployment of an Engineer Company and a Medical Team as
part of United Nations Contingent for Peace Keeping Operations”. The exercise
will further strengthen the bilateral relations between India and Vietnam. About
the Ex VINBAX 2022:
a)
The
conduct of Ex VINBAX – 2022 as a field training exercise with enhanced scope
from previous editions of bilateral exercise will strengthen mutual confidence,
and inter-operability and enable sharing of best practices between the Indian
Army and Vietnam People’s Army.
b)
The
joint exercise will also provide an opportunity to the troops of both the
Contingents to learn about the social and cultural heritage of each other.
Indian Army is being represented by troops from the 105 Engineer Regiment.
c)
A
48 hours Validation Exercise is part of the schedule to assess the standards
achieved by both contingents while executing technical military operations
under similar scenarios in UN missions.
d)
A
Humanitarian Assistance & Disaster Relief demonstration and equipment
display will showcase India’s capacity to undertake rescue and relief
operations during natural and manmade disasters utilising indigenous solutions.
2.
4th India-Oman Joint Military Exercise ‘AL NAJAH-IV’ begins: The 4th Edition
of India-Oman Joint Military Exercise ‘AL NAJAH-IV’ begins in Rajasthan at the
Foreign Training Node of Mahajan Field Firing Ranges. The exercise takes place
between contingents of the Indian Army and the Royal Army of Oman from August
01 to 13, 2022. The 3rd edition of Ex AL NAJAH IV was held at Muscat from 12 to
25 March 2019. Important points of exercise:
a)
The
Indian Army will be represented by troops from the 18 Mechanised Infantry
Battalion at the AL NAJAH-IV.
b)
The
Royal Army of Oman contingent will be represented by the Sultan of Oman
Parachute Regiment.
c)
The
objective of this joint military exercise is to enhance the level of defence
cooperation between the Armies of India and Oman as well as the bilateral
relations between the two nations.
d) The exercise would focus on Counter Terrorism Operations, Regional Security Operations and Peace Keeping Operations under the United Nations charter, joint physical training schedules, tactical drills, techniques and procedures.
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