Daily GK Update- 8th Aug, 2022

 

NATIONAL UPDATES:

 

1. PM Modi Chairs 7th NITI Aayog Governing Council Meet: Prime Minister Narendra Modi attended the seventh NITI Aayog governing council meeting which took place at the Rashtrapati Bhavan’s cultural centre in the national capital. The council held discussions over several issues such as crop diversification, urban development and implementation of the National Education Policy (NEP). Top Points in the Meeting:

a)      Among the agendas of the conference are evolving a shared vision of national priorities and strategies with the active involvement of states and union Territories,” the NITI Aayog Governing Council is a key forum for deliberations.

b)      With India hosting the G20 Presidency and summit next year, Sunday’s meeting assumes greater significance. Presidency for India for the federal system and the role that states can play in highlighting their progress at the G-20 Platform.

c)       Telangana chief minister K. Chandrashekar Rao on Saturday, claiming discrimination by centre, said he would not attend the conference, In a statement, the NITI Aayog said it was “unfortunate”.

d)      Bihar chief minister Nitish Kumar is also not present at the meeting.

 

2. Uttarakhand govt decides to develop one Sanskrit-speaking village in each district: Uttarakhand government has decided to develop one Sanskrit-speaking village in each of the 13 districts in the state. Citizens of these villages will be trained by experts to use the ancient Indian language as a medium of daily communication, Uttarakhand’s Minister for Sanskrit Education. Sanskrit teachers will be sent to the selected villages to teach locals how to communicate in the language. They will also be taught the Vedas and the Puranas to help them acquire proficiency in Sanskrit. To be called ”Sanskrit Gram”, each of these villages will be a centre of ancient Indian culture

Sanskrit is the second official language of Uttarakhand. The first language is Hindi. Uttarakhand is the first state in the country to launch an initiative on this scale to promote Sanskrit. There is only one Sanskrit-speaking village in the state of Karnataka.

Note: Uttarakhand Chief Minister: Pushkar Singh Dhami; Uttarakhand Capitals: Dehradun (Winter), Gairsain (Summer); Uttarakhand Governor:  Lt Gen Gurmit Singh.

 

3. Haryana government developed the Cheerag programme for EWS Students: The “Chief Minister Equal Education Relief, Assistance and Grant (Cheerag)” programme was recently introduced by the administration of Haryana Chief Minister Manohar Lal Khattar. It was put in lieu of a comparable programme started by the Bhupinder Singh Hooda administration in 2007 under Rule 134 A of the 2003 Haryana School Education Rules. According to the plan, government students from the Economically Weaker Section (EWS) who attend private schools will receive a free education. About Cheerag Scheme:

a)      Under the Cheerag programme, government school children in grades 2 through 12 may enrol in private schools.

b)      To qualify, parents’ verifiable annual income must be less than Rs. 1.8 lakh.

c)       The state of Haryana will pay back: -Rs 700 each student in grades two through five, Rs 900 per student in grades six through eight and Rs 1,100 each student in grades nine through twelve.

d)      Under the Cheerag programme, 533 low-cost private schools in rural areas and small cities had submitted applications. Due to various technological issues, only 381 schools were deemed to be eligible.

e)      Government school students from EWS were given 24,987 seats in eligible schools. However, only 1665 students—or 6.66 percent of the available seats—have chosen the programme. This is due to the fact that those schools are not close and that only government schools have certain facilities. Furthermore, reputable private schools have not expressed an interest in taking part.

 

4. ISRO’s launched tiniest rocket to display the Tricolor in Space: A tiny satellite launch vehicle was sent from Sriharikota by the Indian Space Research Organization on 7th August 2022. It is a three-stage vehicle, and each step of propulsion uses solid fuel. The goal of the project is to place an Earth observation satellite called EOS-02 into low earth orbit along with a satellite called “Azaadi SAT.” The satellite will be launched from Sriharikota. About the AzaadiSAT:

a)      In order to mark India’s 75th anniversary of independence, Prime Minister Narendra Modi declared on August 15 that this spacecraft would be launched. A co-passenger satellite called “AzaadiSAT” will be aboard SSLV in honour of India’s festival of “Azaadi Ka Amrit Mahotsav.“ It was designed specifically for the 75th anniversary of Independence Day.

b)      AzaadiSAT has 75 payloads in total. 750 young female students from 75 Indian rural government schools built these payloads. It is the outcome of ISRO’s efforts to encourage girls to pursue “Science, technology, engineering, and mathematics (STEM)”.

c)       The CubeSat weighs 8 kg. The 75 payloads weigh around 50 grammes each. In addition, AzadiSAT has a long-range transponder and a solid-state PIN diode-based radiation counter that will measure the ionising radiation in its orbit.

d)      To connect and interact with AzadiSAT in orbit, ISRO will employ a ground system created by Space Kidz India.

 

5. Nation observes 80th anniversary of Quit India movement: The 80th anniversary of the August Kranti Din or Quit India Movement, which is considered as one of the important milestones in the history of the freedom struggle of our country, is being observed on 8 August 2022. The slogans “Quit India” and “Do or Die” became battle cries for the freedom fighters during the Quit India movement.

Quit India movement History: On 8 Aug 1942, Mahatma Gandhi gave a clarion call to end British rule and launched the Quit India Movement at the session of the All-India Congress Committee in Mumbai. Although the movement was suppressed by 1944, it played an important role in uniting the common people across the country against British rule. The Quit India movement was supposed to be a peaceful and non-violent movement that only aimed to urge the British to leave India and grant Independence. Gandhi gave separate instructions to each age group and a working group in India about the movement.

 

INTERNATIONAL UPDATES:

 

1. ASEAN Has Celebrated Its 55th Anniversary In 2022: External Affairs Minister Dr S. Jaishankar has congratulated ASEAN Member States and the Secretary General on their 55th anniversary. In a tweet, he said, we celebrate 2022 as the ASEAN-India Friendship Year, reaffirming the commitment to the partnership and to ASEAN’s centrality in the Indo-Pacific. The ASEAN-India Centre (AIC) at Research and Information System for Developing Countries (RIS), New Delhi, organised a panel discussion to celebrate the 55th Anniversary of ASEAN on Monday.

The theme of this year’s ASEAN Day is “Stronger Together” that invites and welcomes the forward-minded people of ASEAN to come in synchronization and work as a collective to face the challenges of 21st Century. ASEAN symbolizes the spirit of solidarity and peaceful, prosperous and socially responsible ASEAN Community.

About ASEAN: The Association of Southeast Asian Nations, or ASEAN, was established on 8 August 1967 in Bangkok, Thailand, with the signing of the ASEAN Declaration (Bangkok Declaration). The motto of ASEAN is “One Vision, One Identity, One Community”.

Founding Members: Indonesia, Malaysia, Philippines, Singapore and Thailand. Brunei Darussalam (1984), Vietnam (1995), Lao PDR and Myanmar (1997), and Cambodia (1999), joined the ASEAN later.

ASEAN Secretariat – Indonesia, Jakarta.

 

OTHER UPDATES:

 

SPORTS

 

1. Commonwealth Games 2022: Eldhose Paul becomes the first Indian to win gold in the triple jump: India’s Eldhose Paul scripted history by winning the first-ever gold medal in Men’s Triple Jump at the Commonwealth Games 2022. With the best effort of 17.03m, he left everyone in awe of his stunning jump. Paul’s statemate Aboobacker won silver with a 17.02m jump (wind assistance +1.2) in his fifth attempt. Bermuda’s Jah-Nhai Perinchief won bronze with a jump of 16.92m.

 

2. Commonwealth Games 2022: Boxer Nitu Ghangas wins gold in women’s 48 kg category: Indian boxer Nitu Ghangas has clinched a gold medal after defeating England’s Demie-Jade Resztan in the final of the women’s 48 kg category at the Commonwealth Games 2022. She won on basis of points by 5-0 over her English opponent. Indian boxer Nitu Ghangas assured the nation of another medal after reaching the final of the Minimum weight (over 45 kg- 48 kg) category by defeating Priyanka Dhillion of Canada in the semifinal at the ongoing Commonwealth Games 2022 in Birmingham.

 

3. Commonwealth Games 2022: Amit Panghal wins Gold in men’s 48kg-51kg flyweight boxing: Indian boxer Amit Panghal has won the gold medal in the 48-51kg weight category at Commonwealth Games 2022. He defeated England’s Kiaran Macdonald by 5-0 in the final match. It is his second CWG medal after Silver in Gold Coast. Subedar Amit Panghal is an Indian Army Junior Commissioned Officer (JCO) and a boxer. Born in a farming family based in Rohtak, Haryana, Panghal took inspiration from his elder brother Ajay to become a boxer.

 

4. Commonwealth Games 2022: Table Tennis player Bhavina Patel won a gold medal in the women’s singles: Star Indian para table tennis player, Bhavina Patel won a gold medal in the women’s singles class 3-5 at the Commonwealth Games 2022. The 35-year-old from Gujarat, prevailed 12-10 11-2 11-9 over Nigeria’s Ifechukwude Christiana Ikpeoyi to cap off. Bhavina Hasmukhbhai Patel is an Indian parathlete and table tennis player from Mehsana, Gujarat.

 

5. Commonwealth Games 2022: Naveen won the gold medal in the men’s 74kg freestyle wrestling: Indian wrestler Naveen Malik won the gold medal in the men’s 74kg freestyle wrestling at the 2022 Commonwealth Games at the Coventry Stadium and Arena. Naveen defeated Muhammad Sharif Tahir of Pakistan. The Indian seemed to have the edge over Tahir in terms of speed and used it to his advantage to open the scoring with a two-point takedown. He went for the kill to score two more takedowns and earned a comprehensive 9-0 win.

 

6. Commonwealth Games 2022: Wrestler Ravi Kumar Dahiya bags gold for India: Ravi Kumar Dahiya has created history at Commonwealth Games 2022 by winning Gold for the country in Men’s Freestyle 57kg wrestling. Ravi defeated Ebikewenimo Welson of Nigeria 10-0 in the final to win his maiden Commonwealth Games gold. The match lasted two minutes and 16 seconds. Dahiya was extremely dominant in the first period and did not let his opponent score.

 

7. Commonwealth Games 2022: Nikhat Zareen wins Gold in Boxing: Nikhat Zareen wins the Gold medal at Commonwealth Games 2022 in Birmingham. She defeated Mc Naul of Northern Islands in the finals, by 5-0 in women’s light-fly 48kg-50kg boxing. With Nikhat Zareen’s gold medal at Commonwealth Games 2022, India gets a total of 17 golds and 48 total medals. Nikhat Zareen again proves her dominance in the world of boxing.

 

BANKING AND FINANCE

 

1. RBI Imposes ₹2.33 Cr Monetary Penalty on Spandana Sphoorty Financial: The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹2.33 crore on Hyderabad-based Spandana Sphoorty Financial Ltd for its failure to adhere to the pricing of credit guidelines for Non-Banking Financial Company – Micro Finance Institutions (NBFC-MFIs).

Reason for This Action: RBI had conducted statutory inspections of the company, a NBFC- MFI, with reference to its financial position as on March 31, 2019 and March 31, 2020. Examination of the Risk Assessment Report, Inspection Reports, supervisory letters and all related correspondence revealed that the company’s failure to adhere to pricing of credit guidelines for NBFC-MFI, according to the central bank’s statement.  The central bank observed that its action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers.

 

2. SBI’s first-quarter net profit fell by 7% to Rs. 6,068 billion: SBI’s first-quarter net profit: Due to a reduction in revenue, the largest lender in the nation, State Bank of India (SBI), reported a 7% decline in standalone net profit for the first quarter of the current fiscal year, coming in at Rs 6,068 crore. In the April through June quarter of 2021–2022, the bank had posted a net profit of Rs 6,504 crore. SBI reported in a regulatory filing that its standalone total income decreased to Rs 74,998.57 crore in the first quarter of 2022–23 from Rs 77,347.17 crore in the same period last year. Sbi’s First-Quarter Net Profit: Key Points:

a)      Due to Mark to Market (MTM) losses on its investment book, the bank’s operational profit decreased by 33% to Rs 12,753 crore from Rs 18,975 crore in the April-June quarter of the previous fiscal.

b)      The bank’s Return on Asset and Return on Equity, which were 0.48 percent and 10.09 percent, respectively, were negatively impacted by the MTM hit.

c)       However, the bank’s interest income increased to Rs 72,676 crore from Rs 65,564 crore previously. At the same time, net interest income rose from Rs 27,638 crore in the first quarter of the previous fiscal to Rs 31,196 crore.

d)      From 3.15 to 3.23 percent, the net interest margin increased.

 

BUSINESS AND ECONOMY

 

1. Government Emphasises on Whole of the Government Approach to Boost Exports: Union Commerce and Industry Minister Piyush Goyal emphasised on ‘Whole of Govt’ approach to boost exports. Interacting with the Export Promotion Councils (EPCs) and representatives of Industry associations at New Delhi, Goyal reviewed the Export scenario of the country. He said that the ‘Whole of Govt’ approach to boost exports would require exporters, EPCs, govt agencies and Indian missions abroad to work together. He further stated that the ball is in our court and we have to be ready to take on global competition. He said that government is doing its best through various measures to support Indian exporters to compete globally.

 

2. Amazon India signed an agreement with Indian Railways to boost delivery: Amazon India has engaged with the Railway of India to boost its delivery services in the country. Through this partnership, Amazon India will be able to transport packages on more than 110 inter-city routes, ensuring one to two-day delivery for its customer. Amazon began working with the Indian Railways in 2019. The company has increased its transportation lanes five-fold, it said.

Amazon will pay a monthly rent of about Rs 3.57 crore, with periodic rental escalation, for a lease tenure of 21 years and six months. The lease agreement includes a rent-free period of 24 months, with a lock-in period of 15 years from the lease commencement date.

Note: Amazon Founder: Jeff Bezos; Amazon CEO: Andy Jassy; Amazon HQ: Seattle, Washington, United States; Amazon Formed: 5 July 1994.

 

AWARDS AND HONOURS

 

1. Indian-American Aarya Walvekar crowned Miss India USA 2022: Indian American from Virginia, Aarya Walvekar has crowned Miss India USA in 2022 in New Jersey. Saumya Sharma, a second-year premedical student at the University of Virginia, was declared first runner up and Sanjana Chekuri of New Jersey was the second runner-up. This year marks the 40th anniversary of the pageant which is the longest-running Indian pageant outside of India. It was started by New York-based Indian- Americans Dharmatma and Neelam Saran under the banner of Worldwide Pageants. About the competition:

a)      As many as 74 contestants representing 30 states participated in three different pageants –Miss India USA, Mrs. India USA and Miss Teen India USA.

b)      Akshi Jain from Washington has crowned Mrs India USA and Tanvi Grover from New York was crowned Miss Teen India USA.

c)       Winners of all three categories receive complimentary tickets to Mumbai early next year to take part in Worldwide Pageants organised by the same group.

d)      The event attended by singer Shibani Kashyap, Khushi Patel, Miss India Worldwide 2022 and Swathy Vimal, Mrs. India Worldwide.

 

2. Spiritual leader Dalai Lama honoured with Ladakh’s highest civilian award: Tibetan spiritual leader, Dalai Lama was honoured with the ‘dPal rNgam Duston’ award, the highest civilian honour of Ladakh. This award is given for his immense contribution to humanity, especially towards the union territory. The sixth award was conferred by Ladakh Autonomous Hill Development Council (LAHDC), Leh which celebrated the ‘dPal rNgam Duston’ with great fervour on the occasion of its foundation day at Sindhu Ghat.

The 87-year-old spiritual leader, who is on a visit to the union territory since July 15, appreciated the gesture and stressed maintaining communal harmony in the region. The ‘dPal rNgam Duston’ marks the celebration of the remarkable contribution and achievement of the heroes of Ladakh and seeks to instil a sense of pride in the younger generation.