Daily GK Update- 3rd Aug, 2021

 

NATIONAL UPDATES:

 

1. Union Minister of Science & Technology releases “Biotech-PRIDE”: The Union Ministry for Science & Technology has released “Biotech-PRIDE (Promotion of Research and Innovation through Data Exchange) Guidelines”. The Biotech-PRIDE Guidelines have been developed by the Department of Biotechnology (DBT). The guidelines are aimed at providing a well-defined framework and guiding principle to facilitate and enable sharing and exchange of biological knowledge, information and data.

The guidelines will be implemented through the Indian Biological Data Centre (IBDC). The exchange of information will help in promoting research and innovation in different research groups across the country. These guidelines do not deal with the generation of biological data but are an enabling mechanism to share and exchange information and knowledge generated as per the existing laws, rules, regulations and guidelines of the country.

Note: Union Minister for Science & Technology: Jitendra Singh.

 

2. Bhubaneswar becomes first Indian city to vaccinate 100% against COVID-19: Bhubaneswar has become the first Indian city to achieve 100 per cent COVID-19 vaccination. The Bhubaneswar Municipal Corporation (BMC) had launched a massive vaccination drive against Covid-19. This milestone is credited to the BMC running 55 centres at all times for vaccines. BMC has a record of around nine lakh people who are above 18 years of age in the city. Which includes around 31 thousand healthcare workers, 33 thousand front-line workers. 5 lakh 17 thousand people are in the age group of 18 to 44 years. Three lakh twenty-five thousand people are above 45 years of age.

Note: Chief Minister of Odisha: Naveen Patnaik and Governor is Ganeshi Lal.

 

3. Govt announces special economic & comprehensive package of Rs. 29.87 lakh under AtmaNirbhar Bharat: Government had announced a special economic and comprehensive package of 29.87 lakh crore rupees under AtmaNirbhar Bharat during last financial year. Finance Minister Nirmala Sitharaman said that the aim of this package was to combat the impact of the Covid-19 pandemic in the country. She said that the Government has announced a number of measures to support broad based and inclusive economic development including a 34.5 percent increase in capital expenditure and 137 percent increase in health expenditure in the current Union Budget.

 

4. Govt to set up Centre for Bio-Resources & Sustainable Development in Northeast: Ministry of Science and Technology will set up a first-of-its-kind Centre of Excellence in the Northeast. The prestigious project for establishing Centre for Bio-Resources and Sustainable Development as a Centre of Excellence was sanctioned by the Department of Biotechnology and is complete for formal inauguration shortly. The location of the project is at Kimin in district Papum Pare in Arunachal Pradesh. The construction of the new building as well other infrastructure has been completed.

 

5. Centre to invest Rs324 crore to expand laboratory testing infrastructure: The Union government will set up over 42 virology research and diagnostic laboratories under a central scheme during the period of 15th Finance Commission (2021-22 to 2025-26) at a cost of Rs324 crore. The scheme under the Department of Health Research (DHR), Indian Council of Medical Research (ICMR) aims to help boost coverage of timely diagnosis and identification of viruses during an epidemic outbreak, generation of data about viral diseases for facilitating quick deployment of resources and measures to save human lives.

 

INTERNATIONALUPDATES:

 

1. NikolPashinyan Re-appointed as PM of Armenia: NikolPashinyan has been re-appointed as the prime minister of Armenia by President Armen Sarkissian on August 02, 2021. Pashinyan, the leader of the Civil Contract Party, won the majority of seats in parliamentary elections in June 2021. The 46-year-old Pashinyan was first appointed as the prime minister in 2018.

Note: Armenia Capital: Yerevan; Currency: Armenian dram.

 

2. Myanmar Military Chief appointed as interim Prime Minister: The Chief of the Myanmar military, Senior General Min Aung Hlaing has taken over as the interim prime minister of the country. He is also the Chairman of the State Administration Council (SAC) which has been performing the duties of the government in Myanmar, after the February 01, 2021 coup, which overthrew Aung San Suu Kyi’s ruling party. This SAC has been reformed as the caretaker government of Myanmar in order to perform the country’s duties fast, easily and effectively. Min Aung Hlaing is also been the commander-in-chief of Defence Services of Myanmar since March 2011. Hlaing has pledged to hold elections by 2023.

Note: Myanmar Capital: Naypyitaw; Myanmar Currency: Kyat.

 

3. ISRO-NASA joint mission NISAR Satellite to be launched in 2023: The ISRO-NASA joint mission NISER (NASA-ISRO Synthetic Aperture Radar) satellite, aimed at making global measurement of land surface changes using advanced radar imaging, is proposed to be launched in early 2023. It is a dual-band (L-band and S-band) radar imaging mission with the capability of full polarimetric and interferometric modes of operation to observe minor changes in land, vegetation and cryosphere.

NASA is developing L-band SAR and associated systems while ISRO is developing S-band SAR, spacecraft bus, the launch vehicle and associated launch services. The major scientific objectives of the mission are to improve understanding of the impact of climate change on Earth’s changing ecosystems, land and coastal processes, land deformations and cryosphere. NISER is one of the crucial collaborations of the ISRO and NASA. India and the U.S. had agreed upon this mission during then-President Barack Obama’s visit to India in 2015.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

NASA administrator: Bill Nelson; Headquarters of NASA: Washington D.C., United States; NASA Founded: 1 October 1958.

 

OTHER UPDATES:

 

SPORTS

 

1. Italy’s Marcell Jacobs wins men’s 100m gold at Tokyo Olympics 2020: Italy’s Lamont Marcell Jacobs outshone a field of unusual suspects to claim a shock Olympic gold in the men’s 100 metres, breaking retired Jamaican star Usain Bolt’s 13-year hold on the blue-riband event. American Fred Kerley took silver in a personal best of 9.84 with Canada’s Andre de Grasse repeating his bronze of 2016 in 9.89, also a new best.

In the women category: Elaine Thompson-Herah led a Jamaican sweep in the women’s 100 meters at the Tokyo Summer Games, capturing gold in an Olympic-record time of 10.61 seconds. Thompson-Herah’s time was also the second-fastest women’s 100 of all time. Veteran teammate Shelly-Ann Fraser-Pryce took the silver in 10.74 seconds while Shericka Jackson, also of Jamaica, was third in 10.76. Teahna Daniels of the U.S. was seventh in 11.02.

 

2. US clinches CONCACAF Gold Cup in football: United States clinched an exhilarating 1-0 extra-time win over defending champion Mexico to claim a seventh CONCACAF Gold Cup. Just three minutes were left in extra time when the US defender head-butted a cross by Kellyn Acosta past Mexican goalkeeper Alfredo Talavera. This was the American team’s first Gold Cup title since 2017 and avenged a defeat to Mexico in 2019 final. Mexico’s Hector Herrera was the Tournament’s Best Player. US Matt Turner, who recorded five clean sheets, was voted Best Goalkeeper. Almoez Ali of Qatar received the Top Scorer Award.

 

BANKING AND FINANCE

 

1. HDFC Bank launches ‘Dukandar Overdraft Scheme’: HDFC Bank announced the launch of an overdraft facility for small retailers in partnership with CSC SPV. Known as ‘Dukandar Overdraft Scheme’. The scheme by HDFC Bank is aimed at helping shopkeepers and merchants ease their cash crunch. According to the bank, retailers operating for a minimum of three years are eligible for the scheme by providing six months bank statement from any bank. HDFC Bank will approve an overdraft limit from a minimum of Rs 50,000 to a maximum of Rs 10 lakhs based on the statements. Importantly, HDFC Bank won’t seek collateral security, business financials, and income tax returns from retailers who apply for the scheme.

Note: Headquarters of HDFC Bank: Mumbai, Maharashtra; MD and CEO of HDFC Bank: SashidharJagdishan; The tagline of HDFC Bank: We understand your world.

 

2. RBI imposes penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank: Reserve Bank of India has imposed a penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank, Nashik for non-compliance with certain regulatory requirements. The penalty on Janalaxmi Co-operative Bank has been imposed for non-compliance with directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks’ and ‘Membership of Credit Information Companies (CICs)’.  A statutory inspection conducted by RBI with reference to the bank’s financial position as on March 31, 2019, and the inspection report pertaining thereto, and examination of all related correspondence revealed non-compliance with the directions.

 

BUSINESS AND ECONOMY

 

1. Indian Bank signs MoU with IIT Bombay for startup financing: Indian Bank has entered into a Memorandum of Understanding with the Society for Innovation and Entrepreneurship (SINE) – an initiative of the Indian Institute of Technology, Bombay – for extending exclusive credit facilities to startups and MSMEs. The Bank will extend loans of up to 50 crore rupees to these start-ups for their working capital requirements or purchase of machinery and equipment. As the name goes, this initiative, which is mutually beneficial for both Bank and IIT, Bombay, will be the springboard for start-ups to realise their ambitions.

About the SINE: SINE, IIT, Bombay is the forerunner in setting up joint R&D with industries and supporting start-up incubation. SINE, IIT, Bombay provides support to the MSME sector by providing joint research and development arrangements and technical and financial support for incubation and acceleration of high-end technology products.

Note: Indian Bank Headquarters: Chennai; Indian Bank CEO: PadmajaChunduru; Indian Bank: 1907.

 

2. Bvlgari appoints Priyanka Chopra as its global brand ambassador: Italian luxury brand Bvlgari has appointed actor Priyanka Chopra Jonas as global brand ambassador. She will support the Roman high jewellery house in amplifying the brand around the world, with a particular focus on themes of women empowerment, diversity and inclusion. Bvlgari is known for its gemstone jewellery, watches, fragrances, accessories and leather goods.

Priyanka Chopra Jonas is also a global UNICEF Goodwill Ambassador, and recipient of the prestigious Danny Kaye Humanitarian award, serving as a symbol of power and strength for millions of young women.

 

DEFENCE

 

1. Operation Blue Freedom: Team of Special Forces Veterans: The government of India has accorded sanctions to Team CLAW to lead a team of people with disabilities to scale Siachen Glacier. It will be a new world record for the largest team of people with disabilities. This expedition is being undertaken as part of ‘Operation Blue Freedom’. It aims to shatter the common perception of pity, charity, and inability associated with people with disabilities and recreate it to one of dignity, freedom, and ability.

About the Operation Blue Freedom: Operation Blue Freedom was launched in 2019 by CLAW Global, a team of former Special Forces Operatives of the Indian Army and the Indian Navy. The Operation is a social impact venture aimed at rehabilitating people with disabilities through adaptive adventure sports. Moreover, their focus is also to ‘design and implement sustainable large-scale employment solutions’ for people with disabilities, especially in the ‘Environment conservation and Sustainability’ space.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NATIONAL UPDATES:

 

1. Union Minister of Science & Technology releases “Biotech-PRIDE”: The Union Ministry for Science & Technology has released “Biotech-PRIDE (Promotion of Research and Innovation through Data Exchange) Guidelines”. The Biotech-PRIDE Guidelines have been developed by the Department of Biotechnology (DBT). The guidelines are aimed at providing a well-defined framework and guiding principle to facilitate and enable sharing and exchange of biological knowledge, information and data.

The guidelines will be implemented through the Indian Biological Data Centre (IBDC). The exchange of information will help in promoting research and innovation in different research groups across the country. These guidelines do not deal with the generation of biological data but are an enabling mechanism to share and exchange information and knowledge generated as per the existing laws, rules, regulations and guidelines of the country.

Note: Union Minister for Science & Technology: Jitendra Singh.

 

2. Bhubaneswar becomes first Indian city to vaccinate 100% against COVID-19: Bhubaneswar has become the first Indian city to achieve 100 per cent COVID-19 vaccination. The Bhubaneswar Municipal Corporation (BMC) had launched a massive vaccination drive against Covid-19. This milestone is credited to the BMC running 55 centres at all times for vaccines. BMC has a record of around nine lakh people who are above 18 years of age in the city. Which includes around 31 thousand healthcare workers, 33 thousand front-line workers. 5 lakh 17 thousand people are in the age group of 18 to 44 years. Three lakh twenty-five thousand people are above 45 years of age.

Note: Chief Minister of Odisha: Naveen Patnaik and Governor is Ganeshi Lal.

 

3. Govt announces special economic & comprehensive package of Rs. 29.87 lakh under AtmaNirbhar Bharat: Government had announced a special economic and comprehensive package of 29.87 lakh crore rupees under AtmaNirbhar Bharat during last financial year. Finance Minister Nirmala Sitharaman said that the aim of this package was to combat the impact of the Covid-19 pandemic in the country. She said that the Government has announced a number of measures to support broad based and inclusive economic development including a 34.5 percent increase in capital expenditure and 137 percent increase in health expenditure in the current Union Budget.

 

4. Govt to set up Centre for Bio-Resources & Sustainable Development in Northeast: Ministry of Science and Technology will set up a first-of-its-kind Centre of Excellence in the Northeast. The prestigious project for establishing Centre for Bio-Resources and Sustainable Development as a Centre of Excellence was sanctioned by the Department of Biotechnology and is complete for formal inauguration shortly. The location of the project is at Kimin in district Papum Pare in Arunachal Pradesh. The construction of the new building as well other infrastructure has been completed.

 

5. Centre to invest Rs324 crore to expand laboratory testing infrastructure: The Union government will set up over 42 virology research and diagnostic laboratories under a central scheme during the period of 15th Finance Commission (2021-22 to 2025-26) at a cost of Rs324 crore. The scheme under the Department of Health Research (DHR), Indian Council of Medical Research (ICMR) aims to help boost coverage of timely diagnosis and identification of viruses during an epidemic outbreak, generation of data about viral diseases for facilitating quick deployment of resources and measures to save human lives.

 

INTERNATIONALUPDATES:

 

1. NikolPashinyan Re-appointed as PM of Armenia: NikolPashinyan has been re-appointed as the prime minister of Armenia by President Armen Sarkissian on August 02, 2021. Pashinyan, the leader of the Civil Contract Party, won the majority of seats in parliamentary elections in June 2021. The 46-year-old Pashinyan was first appointed as the prime minister in 2018.

Note: Armenia Capital: Yerevan; Currency: Armenian dram.

 

2. Myanmar Military Chief appointed as interim Prime Minister: The Chief of the Myanmar military, Senior General Min Aung Hlaing has taken over as the interim prime minister of the country. He is also the Chairman of the State Administration Council (SAC) which has been performing the duties of the government in Myanmar, after the February 01, 2021 coup, which overthrew Aung San Suu Kyi’s ruling party. This SAC has been reformed as the caretaker government of Myanmar in order to perform the country’s duties fast, easily and effectively. Min Aung Hlaing is also been the commander-in-chief of Defence Services of Myanmar since March 2011. Hlaing has pledged to hold elections by 2023.

Note: Myanmar Capital: Naypyitaw; Myanmar Currency: Kyat.

 

3. ISRO-NASA joint mission NISAR Satellite to be launched in 2023: The ISRO-NASA joint mission NISER (NASA-ISRO Synthetic Aperture Radar) satellite, aimed at making global measurement of land surface changes using advanced radar imaging, is proposed to be launched in early 2023. It is a dual-band (L-band and S-band) radar imaging mission with the capability of full polarimetric and interferometric modes of operation to observe minor changes in land, vegetation and cryosphere.

NASA is developing L-band SAR and associated systems while ISRO is developing S-band SAR, spacecraft bus, the launch vehicle and associated launch services. The major scientific objectives of the mission are to improve understanding of the impact of climate change on Earth’s changing ecosystems, land and coastal processes, land deformations and cryosphere. NISER is one of the crucial collaborations of the ISRO and NASA. India and the U.S. had agreed upon this mission during then-President Barack Obama’s visit to India in 2015.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

NASA administrator: Bill Nelson; Headquarters of NASA: Washington D.C., United States; NASA Founded: 1 October 1958.

 

OTHER UPDATES:

 

SPORTS

 

1. Italy’s Marcell Jacobs wins men’s 100m gold at Tokyo Olympics 2020: Italy’s Lamont Marcell Jacobs outshone a field of unusual suspects to claim a shock Olympic gold in the men’s 100 metres, breaking retired Jamaican star Usain Bolt’s 13-year hold on the blue-riband event. American Fred Kerley took silver in a personal best of 9.84 with Canada’s Andre de Grasse repeating his bronze of 2016 in 9.89, also a new best.

In the women category: Elaine Thompson-Herah led a Jamaican sweep in the women’s 100 meters at the Tokyo Summer Games, capturing gold in an Olympic-record time of 10.61 seconds. Thompson-Herah’s time was also the second-fastest women’s 100 of all time. Veteran teammate Shelly-Ann Fraser-Pryce took the silver in 10.74 seconds while Shericka Jackson, also of Jamaica, was third in 10.76. Teahna Daniels of the U.S. was seventh in 11.02.

 

2. US clinches CONCACAF Gold Cup in football: United States clinched an exhilarating 1-0 extra-time win over defending champion Mexico to claim a seventh CONCACAF Gold Cup. Just three minutes were left in extra time when the US defender head-butted a cross by Kellyn Acosta past Mexican goalkeeper Alfredo Talavera. This was the American team’s first Gold Cup title since 2017 and avenged a defeat to Mexico in 2019 final. Mexico’s Hector Herrera was the Tournament’s Best Player. US Matt Turner, who recorded five clean sheets, was voted Best Goalkeeper. Almoez Ali of Qatar received the Top Scorer Award.

 

BANKING AND FINANCE

 

1. HDFC Bank launches ‘Dukandar Overdraft Scheme’: HDFC Bank announced the launch of an overdraft facility for small retailers in partnership with CSC SPV. Known as ‘Dukandar Overdraft Scheme’. The scheme by HDFC Bank is aimed at helping shopkeepers and merchants ease their cash crunch. According to the bank, retailers operating for a minimum of three years are eligible for the scheme by providing six months bank statement from any bank. HDFC Bank will approve an overdraft limit from a minimum of Rs 50,000 to a maximum of Rs 10 lakhs based on the statements. Importantly, HDFC Bank won’t seek collateral security, business financials, and income tax returns from retailers who apply for the scheme.

Note: Headquarters of HDFC Bank: Mumbai, Maharashtra; MD and CEO of HDFC Bank: SashidharJagdishan; The tagline of HDFC Bank: We understand your world.

 

2. RBI imposes penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank: Reserve Bank of India has imposed a penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank, Nashik for non-compliance with certain regulatory requirements. The penalty on Janalaxmi Co-operative Bank has been imposed for non-compliance with directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks’ and ‘Membership of Credit Information Companies (CICs)’.  A statutory inspection conducted by RBI with reference to the bank’s financial position as on March 31, 2019, and the inspection report pertaining thereto, and examination of all related correspondence revealed non-compliance with the directions.

 

BUSINESS AND ECONOMY

 

1. Indian Bank signs MoU with IIT Bombay for startup financing: Indian Bank has entered into a Memorandum of Understanding with the Society for Innovation and Entrepreneurship (SINE) – an initiative of the Indian Institute of Technology, Bombay – for extending exclusive credit facilities to startups and MSMEs. The Bank will extend loans of up to 50 crore rupees to these start-ups for their working capital requirements or purchase of machinery and equipment. As the name goes, this initiative, which is mutually beneficial for both Bank and IIT, Bombay, will be the springboard for start-ups to realise their ambitions.

About the SINE: SINE, IIT, Bombay is the forerunner in setting up joint R&D with industries and supporting start-up incubation. SINE, IIT, Bombay provides support to the MSME sector by providing joint research and development arrangements and technical and financial support for incubation and acceleration of high-end technology products.

Note: Indian Bank Headquarters: Chennai; Indian Bank CEO: PadmajaChunduru; Indian Bank: 1907.

 

2. Bvlgari appoints Priyanka Chopra as its global brand ambassador: Italian luxury brand Bvlgari has appointed actor Priyanka Chopra Jonas as global brand ambassador. She will support the Roman high jewellery house in amplifying the brand around the world, with a particular focus on themes of women empowerment, diversity and inclusion. Bvlgari is known for its gemstone jewellery, watches, fragrances, accessories and leather goods.

Priyanka Chopra Jonas is also a global UNICEF Goodwill Ambassador, and recipient of the prestigious Danny Kaye Humanitarian award, serving as a symbol of power and strength for millions of young women.

 

DEFENCE

 

1. Operation Blue Freedom: Team of Special Forces Veterans: The government of India has accorded sanctions to Team CLAW to lead a team of people with disabilities to scale Siachen Glacier. It will be a new world record for the largest team of people with disabilities. This expedition is being undertaken as part of ‘Operation Blue Freedom’. It aims to shatter the common perception of pity, charity, and inability associated with people with disabilities and recreate it to one of dignity, freedom, and ability.

About the Operation Blue Freedom: Operation Blue Freedom was launched in 2019 by CLAW Global, a team of former Special Forces Operatives of the Indian Army and the Indian Navy. The Operation is a social impact venture aimed at rehabilitating people with disabilities through adaptive adventure sports. Moreover, their focus is also to ‘design and implement sustainable large-scale employment solutions’ for people with disabilities, especially in the ‘Environment conservation and Sustainability’ spaceNATIONAL UPDATES:

 

1. Union Minister of Science & Technology releases “Biotech-PRIDE”: The Union Ministry for Science & Technology has released “Biotech-PRIDE (Promotion of Research and Innovation through Data Exchange) Guidelines”. The Biotech-PRIDE Guidelines have been developed by the Department of Biotechnology (DBT). The guidelines are aimed at providing a well-defined framework and guiding principle to facilitate and enable sharing and exchange of biological knowledge, information and data.

The guidelines will be implemented through the Indian Biological Data Centre (IBDC). The exchange of information will help in promoting research and innovation in different research groups across the country. These guidelines do not deal with the generation of biological data but are an enabling mechanism to share and exchange information and knowledge generated as per the existing laws, rules, regulations and guidelines of the country.

Note: Union Minister for Science & Technology: Jitendra Singh.

 

2. Bhubaneswar becomes first Indian city to vaccinate 100% against COVID-19: Bhubaneswar has become the first Indian city to achieve 100 per cent COVID-19 vaccination. The Bhubaneswar Municipal Corporation (BMC) had launched a massive vaccination drive against Covid-19. This milestone is credited to the BMC running 55 centres at all times for vaccines. BMC has a record of around nine lakh people who are above 18 years of age in the city. Which includes around 31 thousand healthcare workers, 33 thousand front-line workers. 5 lakh 17 thousand people are in the age group of 18 to 44 years. Three lakh twenty-five thousand people are above 45 years of age.

Note: Chief Minister of Odisha: Naveen Patnaik and Governor is Ganeshi Lal.

 

3. Govt announces special economic & comprehensive package of Rs. 29.87 lakh under AtmaNirbhar Bharat: Government had announced a special economic and comprehensive package of 29.87 lakh crore rupees under AtmaNirbhar Bharat during last financial year. Finance Minister Nirmala Sitharaman said that the aim of this package was to combat the impact of the Covid-19 pandemic in the country. She said that the Government has announced a number of measures to support broad based and inclusive economic development including a 34.5 percent increase in capital expenditure and 137 percent increase in health expenditure in the current Union Budget.

 

4. Govt to set up Centre for Bio-Resources & Sustainable Development in Northeast: Ministry of Science and Technology will set up a first-of-its-kind Centre of Excellence in the Northeast. The prestigious project for establishing Centre for Bio-Resources and Sustainable Development as a Centre of Excellence was sanctioned by the Department of Biotechnology and is complete for formal inauguration shortly. The location of the project is at Kimin in district Papum Pare in Arunachal Pradesh. The construction of the new building as well other infrastructure has been completed.

 

5. Centre to invest Rs324 crore to expand laboratory testing infrastructure: The Union government will set up over 42 virology research and diagnostic laboratories under a central scheme during the period of 15th Finance Commission (2021-22 to 2025-26) at a cost of Rs324 crore. The scheme under the Department of Health Research (DHR), Indian Council of Medical Research (ICMR) aims to help boost coverage of timely diagnosis and identification of viruses during an epidemic outbreak, generation of data about viral diseases for facilitating quick deployment of resources and measures to save human lives.

 

INTERNATIONALUPDATES:

 

1. NikolPashinyan Re-appointed as PM of Armenia: NikolPashinyan has been re-appointed as the prime minister of Armenia by President Armen Sarkissian on August 02, 2021. Pashinyan, the leader of the Civil Contract Party, won the majority of seats in parliamentary elections in June 2021. The 46-year-old Pashinyan was first appointed as the prime minister in 2018.

Note: Armenia Capital: Yerevan; Currency: Armenian dram.

 

2. Myanmar Military Chief appointed as interim Prime Minister: The Chief of the Myanmar military, Senior General Min Aung Hlaing has taken over as the interim prime minister of the country. He is also the Chairman of the State Administration Council (SAC) which has been performing the duties of the government in Myanmar, after the February 01, 2021 coup, which overthrew Aung San Suu Kyi’s ruling party. This SAC has been reformed as the caretaker government of Myanmar in order to perform the country’s duties fast, easily and effectively. Min Aung Hlaing is also been the commander-in-chief of Defence Services of Myanmar since March 2011. Hlaing has pledged to hold elections by 2023.

Note: Myanmar Capital: Naypyitaw; Myanmar Currency: Kyat.

 

3. ISRO-NASA joint mission NISAR Satellite to be launched in 2023: The ISRO-NASA joint mission NISER (NASA-ISRO Synthetic Aperture Radar) satellite, aimed at making global measurement of land surface changes using advanced radar imaging, is proposed to be launched in early 2023. It is a dual-band (L-band and S-band) radar imaging mission with the capability of full polarimetric and interferometric modes of operation to observe minor changes in land, vegetation and cryosphere.

NASA is developing L-band SAR and associated systems while ISRO is developing S-band SAR, spacecraft bus, the launch vehicle and associated launch services. The major scientific objectives of the mission are to improve understanding of the impact of climate change on Earth’s changing ecosystems, land and coastal processes, land deformations and cryosphere. NISER is one of the crucial collaborations of the ISRO and NASA. India and the U.S. had agreed upon this mission during then-President Barack Obama’s visit to India in 2015.

Note: ISRO Chairman: K.Sivan; ISRO Headquarters: Bengaluru, Karnataka; ISRO established: 15 August 1969.

NASA administrator: Bill Nelson; Headquarters of NASA: Washington D.C., United States; NASA Founded: 1 October 1958.

 

OTHER UPDATES:

 

SPORTS

 

1. Italy’s Marcell Jacobs wins men’s 100m gold at Tokyo Olympics 2020: Italy’s Lamont Marcell Jacobs outshone a field of unusual suspects to claim a shock Olympic gold in the men’s 100 metres, breaking retired Jamaican star Usain Bolt’s 13-year hold on the blue-riband event. American Fred Kerley took silver in a personal best of 9.84 with Canada’s Andre de Grasse repeating his bronze of 2016 in 9.89, also a new best.

In the women category: Elaine Thompson-Herah led a Jamaican sweep in the women’s 100 meters at the Tokyo Summer Games, capturing gold in an Olympic-record time of 10.61 seconds. Thompson-Herah’s time was also the second-fastest women’s 100 of all time. Veteran teammate Shelly-Ann Fraser-Pryce took the silver in 10.74 seconds while Shericka Jackson, also of Jamaica, was third in 10.76. Teahna Daniels of the U.S. was seventh in 11.02.

 

2. US clinches CONCACAF Gold Cup in football: United States clinched an exhilarating 1-0 extra-time win over defending champion Mexico to claim a seventh CONCACAF Gold Cup. Just three minutes were left in extra time when the US defender head-butted a cross by Kellyn Acosta past Mexican goalkeeper Alfredo Talavera. This was the American team’s first Gold Cup title since 2017 and avenged a defeat to Mexico in 2019 final. Mexico’s Hector Herrera was the Tournament’s Best Player. US Matt Turner, who recorded five clean sheets, was voted Best Goalkeeper. Almoez Ali of Qatar received the Top Scorer Award.

 

BANKING AND FINANCE

 

1. HDFC Bank launches ‘Dukandar Overdraft Scheme’: HDFC Bank announced the launch of an overdraft facility for small retailers in partnership with CSC SPV. Known as ‘Dukandar Overdraft Scheme’. The scheme by HDFC Bank is aimed at helping shopkeepers and merchants ease their cash crunch. According to the bank, retailers operating for a minimum of three years are eligible for the scheme by providing six months bank statement from any bank. HDFC Bank will approve an overdraft limit from a minimum of Rs 50,000 to a maximum of Rs 10 lakhs based on the statements. Importantly, HDFC Bank won’t seek collateral security, business financials, and income tax returns from retailers who apply for the scheme.

Note: Headquarters of HDFC Bank: Mumbai, Maharashtra; MD and CEO of HDFC Bank: SashidharJagdishan; The tagline of HDFC Bank: We understand your world.

 

2. RBI imposes penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank: Reserve Bank of India has imposed a penalty of Rs 50.35 lakh on Janalaxmi Co-operative Bank, Nashik for non-compliance with certain regulatory requirements. The penalty on Janalaxmi Co-operative Bank has been imposed for non-compliance with directions issued by RBI on ‘Placement of Deposits with Other Banks by Primary (Urban) Co-operative Banks’ and ‘Membership of Credit Information Companies (CICs)’.  A statutory inspection conducted by RBI with reference to the bank’s financial position as on March 31, 2019, and the inspection report pertaining thereto, and examination of all related correspondence revealed non-compliance with the directions.

 

BUSINESS AND ECONOMY

 

1. Indian Bank signs MoU with IIT Bombay for startup financing: Indian Bank has entered into a Memorandum of Understanding with the Society for Innovation and Entrepreneurship (SINE) – an initiative of the Indian Institute of Technology, Bombay – for extending exclusive credit facilities to startups and MSMEs. The Bank will extend loans of up to 50 crore rupees to these start-ups for their working capital requirements or purchase of machinery and equipment. As the name goes, this initiative, which is mutually beneficial for both Bank and IIT, Bombay, will be the springboard for start-ups to realise their ambitions.

About the SINE: SINE, IIT, Bombay is the forerunner in setting up joint R&D with industries and supporting start-up incubation. SINE, IIT, Bombay provides support to the MSME sector by providing joint research and development arrangements and technical and financial support for incubation and acceleration of high-end technology products.

Note: Indian Bank Headquarters: Chennai; Indian Bank CEO: PadmajaChunduru; Indian Bank: 1907.

 

2. Bvlgari appoints Priyanka Chopra as its global brand ambassador: Italian luxury brand Bvlgari has appointed actor Priyanka Chopra Jonas as global brand ambassador. She will support the Roman high jewellery house in amplifying the brand around the world, with a particular focus on themes of women empowerment, diversity and inclusion. Bvlgari is known for its gemstone jewellery, watches, fragrances, accessories and leather goods.

Priyanka Chopra Jonas is also a global UNICEF Goodwill Ambassador, and recipient of the prestigious Danny Kaye Humanitarian award, serving as a symbol of power and strength for millions of young women.

 

DEFENCE

 

1. Operation Blue Freedom: Team of Special Forces Veterans: The government of India has accorded sanctions to Team CLAW to lead a team of people with disabilities to scale Siachen Glacier. It will be a new world record for the largest team of people with disabilities. This expedition is being undertaken as part of ‘Operation Blue Freedom’. It aims to shatter the common perception of pity, charity, and inability associated with people with disabilities and recreate it to one of dignity, freedom, and ability.

About the Operation Blue Freedom: Operation Blue Freedom was launched in 2019 by CLAW Global, a team of former Special Forces Operatives of the Indian Army and the Indian Navy. The Operation is a social impact venture aimed at rehabilitating people with disabilities through adaptive adventure sports. Moreover, their focus is also to ‘design and implement sustainable large-scale employment solutions’ for people with disabilities, especially in the ‘Environment conservation and Sustainability’ space.   

Daily GK Update- 2nd Aug, 2021

 

NATIONAL UPDATES:

 

1. PM Modi to launch e-RUPI digital payment solution: Prime Minister Narendra Modi will launch e-RUPI, an e-voucher-based digital payment solution, via video conferencing. The e-RUPI initiative will be one of the programmes launched over the years to limit touchpoints between the government and the beneficiary and “ensure that the benefits reach its intended beneficiaries in a targeted and leak-proof manner”.About the e-RUPI:

(1) e-RUPI is a cashless and contactless instrument for digital payments. It acts as an e-voucher based on a QR code or SMS string, which is delivered to the mobile phones of the beneficiaries.

(2) e-RUPI connects the sponsors of the services with the beneficiaries and service providers in a digital manner without any physical interface. It also ensures that the payment to the service provider is made only after the transaction is completed.

(3) Being prepaid in nature, it assures timely payment to the service provider without the involvement of any intermediary.

(4) The one-time payment mechanism of e-RUPI will allow users to redeem the voucher without a card, digital payments app or internet banking access, at the service provider.

(5) The e-RUPI platform has been developed by the National Payments Corporation of India (NPCI) on its UPI platform, in collaboration with the Department of Financial Services, Ministry of Health and Family Welfare and National Health Authority.

 

2. Deepak Das takes charge as new Controller General of Accounts: Deepak Das has taken over as the Controller General of Accounts (CGA) on August 01, 2021. Prior to assuming charge of CGA, Mr Das served as the Principal Chief Controller of Accounts in the Central Board of Direct Taxes (CBDT). Deepak Das, a 1986-batch Indian Civil Accounts Service (ICAS) officer, is the 25th officer to hold the position of CGA.

About the CGA: CGA is the account keeper of the government and derives its mandate from Article 150 of the Constitution. It reconciles the cash balance of the centre with the Reserve Bank of India (RBI) apart from consolidating monthly accounts; preparing trends of revenue realization and expenditures as well as annual accounts of the central government.

 

3. Vice Admiral SN Ghormade takes charge as Vice Chief of the Naval Staff: Vice Admiral SN Ghormade has assumed charge as the Vice Chief of Naval Staff at a formal ceremony in New Delhi. He succeeds Vice Admiral G Ashok Kumar who retired on July 31, 2021, after more than 39 years of illustrious service. The Flag officer SN Ghormade was commissioned in the Indian Navy on January 01, 1984. He was awarded the AtiVishishtSeva Medal (AVSM) on January 26, 2017, and Nausena Medal (NM) in 2007 by the President of India, and a Commendation by the Chief of the Naval Staff in 2000.

 

4. Novelist KunalBasu’s ‘In An Ideal World’ to come out in 2022: Renowned novelist KunalBasu’s new work of fiction, In An Ideal World, will be released next year, Penguin Random House India (PRHI) announced. The book, scheduled to be released under the publishing house’s ‘Viking’ imprint, is touted to be a “powerful, gritty and fast-paced literary novel” exploring a variety of themes relevant to the current times — college, politics, family, crime investigation and fanaticism. According to the publishers, the story of his upcoming book revolves around the disappearance of a member of the Liberal Party of a college in Manhar. The prime suspect of this abduction is the leader of the Nationalist group of the same college.

 

INTERNATIONALUPDATES:

 

1. India takes over UNSC presidency for August 2021: India took over from France to assume the presidency of the United Nations Security Council (UNSC) for the month of August 2021. This is the first presidency for India during its 2021-22 tenure as a non-permanent member of the UNSC. Prime Minister Narendra Modi will be the first Indian PM to preside over a meeting of the UNSC. As the president of the top UN Body, India will decide the agenda for the month, coordinate important meetings and other related issues. India will focus on three priority areas during its presidency. These include maritime security, peacekeeping, and counter-terrorism.

Note: United Nations Security Council Headquarters: New York, United States; United Nations Security Council Founded: 24 October 1945.

 

2. India Placed among Top 10 Agricultural Produce Exporters of 2019: WTO Report: India has find place among the top 10 list of the countries exporting agricultural produce in the year 2019, according to a World Trade Organisation (WTO) report on trends in world agricultural trade in recent 25 years. The last such report was released in 1995, in which India was not in top 10. In the 2019 report, India has outclassed New Zealand to be ranked at 9th spot. India’s share in the global agri exports was recorded to be 3.10%, with a sizable share in the export of rice, cotton, soya beans and meat. Top Three Nations in the List:

1. The European Union (EU) – 16.1% share (ranked 2nd in 1995)

2. The United States – 13.8% share (ranked first in 1995 with 22.2% share)

3. Brazil – 7.8% share (ranked third in 1995 with 4.8%)

 

3. World Lung Cancer Day: 1st August: Every year, World Lung Cancer Day is observed on August 1 to raise awareness about the causes and treatment of lung cancer and highlight the issues of lack of sufficient research funding for the ailment. The campaign was first organized in 2012 by the Forum of International Respiratory Societies (FIRS) , in collaboration with the International Association for the Study of Lung Cancer (IASLC) and also the American College of Chest Physicians. The IASLC is the largest organization in the world of its kind that only deals with lung cancer.

 

OTHER UPDATES:

 

SPORTS

 

1. Esteban Ocon wins Hungarian GP 2021: Esteban Ocon, Alpine-Renault/ France, has won the Hungarian Grand Prix 2021, held on August 01, 2021, at the Hungaroring in Mogyoród, Hungary. This is the maiden F1 race win for Esteban Ocon. Sebastian Vettel (Aston Martin-Mercedes/Germany) came second. Lewis Hamilton (Mercedes-Great Britain) finished third. With this win, he took the Formula One championship lead from Max Verstappen. Hungarian Grand Prix was the eleventh round of the 2021 Formula One World Championship.

 

2. Sri Lanka bowling all-rounder IsuruUdana retires from international cricket: Sri Lanka left-arm seam bowling all-rounder, IsuruUdana has announced his retirement from international cricket with immediate effect. Udana had a very modest international career with sporadic appearances over 12 years in which he played only 21 ODIS and 35 T20 Internationals with just 45 wickets to show for his efforts. The left-arm medium-pacer had made his T20I debut in 2009 against Australia at the T20 World Cup in which Sri Lanka lost the final to Pakistan. His maiden ODI game came against India in 2012.

 

BANKING AND FINANCE

 

1. LIC Cards Services, IDBI Bank launch RuPay credit cards Lumine, Eclat: LIC Cards Services Limited (LIC-CSL) has partnered with IDBI Bank to launch ‘Lumine’ Platinum Credit Card and ‘Eclat’ Select Credit Card on the RuPay platform. The cards will initially be available to LIC policyholders, agents, as well as employees of the corporation and its subsidiaries. The cards will offer a wide range of benefits to users. About the cards:

(1) Lumine and Eclat cardholders will have a credit limit that suits their lifestyles. The cardholders will earn 3 ‘delight’ points on every spend of Rs 100 via the Lumine card and 4 points on the Eclat card.

(2) The cards also offer a special benefits of 2x reward points while paying the renewal insurance premiums of LIC. The cards also have a ‘Welcome Aboard’ offer for initial customers.

(3) Lumine and Eclat cardholders will earn ‘Welcome Bonus Delight Points’ of 1,000 and 1,500, respectively, on spending Rs 10,000 within 60 days of card issuance.

(4) Both cards offer users the facility to convert their transactions of over Rs 3,000 to EMI with zero processing and foreclosure fee, along with a 1% fuel surcharge waiver on transactions of Rs 400 onwards.

(5) Cardholders can also choose their EMI tenure options of 3, 6, 9 or 12 months as per their requirements. Moreover, Eclat cardholders will get complimentary lounge access at all domestic and international airports.

(6) The cards also come with insurance coverage viz air accident insurance cover, personal accident or permanent disability cover, credit shield cover and zero lost card liability. They have a validity of 4 years and an interest-free credit period of up to 48 days.

 

BUSINESS AND ECONOMY

 

1. GST Collections Touched ₹ 1.16 Lakh Crore In July 2021: Goods and Services Tax (GST) collections for July 2021 were ₹ 1.16 lakh crore, 33 per cent more than the corresponding period of last year. GST collections in July 2020 had stood at ₹ 87,422 crore, while sequentially they had stood at ₹ 92,849 crores in June this year. According to figures released by Finance Ministry, gross GST revenue collected in July 2021 are ₹ 1,16,393 crore, out of which Central GST is ₹ 22,197 crores, State GST is ₹ 28,541 crore and Integrated GST is ₹ 57,864 crore (including ₹ 27,900 crores collected on import of goods) and cess of Rs 7,790 crore (including ₹ 815 crores collected on import of goods).

 

AWARDS AND HONOURS

 

1. Asha Bhosle to get prestigious Maharashtra Bhushan award 2021: The Maharashtra Bhushan Selection Committee chaired by Chief Minister Uddhav Thackeray has unanimously selected legendary playback singer Asha Bhosle for the prestigious award. Asha Bhosle is best known for her playback singing in Hindi cinema, although she has a wider repertoire. Bhosle’s career started in 1943 and has spanned over seven decades. She has done playback singing for over a thousand movies. Asha Bhosle was officially acknowledged by the Guinness Book of World Records as the most recorded artist in music history. The Government of India honoured her with the DadasahebPhalke Award in 2000 and the Padma Vibhushan in 2008. Bhosle is the sister of playback singer LataMangeshkar and belongs to the prominent Mangeshkar family.

 

2. Cyrus Poonawalla wins LokmanyaTilak National Award: Dr Cyrus Poonawalla, Chairman of the Pune-based vaccine maker Serum Institute of India (SII), has been selected for the prestigious LokmanyaTilak National Award for 2021. He has been named for his work during the COVID-19 pandemic, by manufacturing the Covishield vaccine. He will receive the award on August 13. The award comprises a cash prize of Rs one lakh and a memento.

About the award: The LokmanyaTilak national award is given annually since 1983 on August 1, the death anniversary of LokmanyaTilak, by the LokmanyaTilak Trust. However this year the date has been changed due to the coronavirus situation.

 

OBITUARIES

 

1. World Masters gold medal winner Man Kaur passes away: Multiple World Masters Championship gold medallist and multiple Asian Masters Championship medallist athlete 105-year-old, Man Kaur passed away. She started running and won her first medal in Chandigarh Masters Athletics meet in 2007 before she won the gold in 100 m as well 200 m race in the National Masters Athletics meet in 2011. Kaur would become the 100 m and 200 m champion in the World Masters Athletics Championships in the USA and was also adjudged the best athlete. But it was her feat of becoming the champion in the 100 m in the 100+ category in the World Masters Athletics Championships in Auckland in 2017, which got her into the limelight.

 

Daily GK Update- 1st Aug, 2021

 

NATIONAL UPDATES:

 

1. PM Modi launches Academic Bank of Credit and Artificial Intelligence programme: PM Modi has launched multiple educational initiatives including the Academic Bank of Credit that will provide multiple entries and exit options for students in Higher education. Academic Bank of Credit is envisaged as a digital bank that holds the credit earned by a student in any course. Academic Bank of Credit is a major instrument for facilitating multidisciplinary and holistic education and multiple entry and exit in higher education. Academic Bank of Credit and the Artificial Intelligence programme to make the youth future-oriented and open the way for an AI-driven economy.

 

2. Rajasthan Government launches ‘Mission NiryatakBano’: The Rajasthan government’s industries department and the Rajasthan State Industrial Development and Investment Corporation (RIICO) have launched the ‘Mission NiryatakBano’ campaign to promote aspiring exporters in the state. The campaign is aimed at registering and handholding the local traders willing to expand their business to foreign countries, in six steps. This shall cover assistance from training, securing necessary documentation, registration in Rajasthan Export Promotion Council and even support in exports and trade operations.

The state government in consideration of the challenges of small businesses had waived off the need for several state-level clearances for the initial three years of upcoming businesses. The exporter assistance campaign shall be another step in helping the local business develop understanding towards the procedures and increase their business.

Note: Chief Minister of Rajasthan: Ashok Gehlot; Governor: Kalraj Mishra.

 

3. 14 Tiger Reserves of India get (CA|TS) Recognition: From India, 14 tiger reserves have received the accreditation of the Global Conservation Assured Tiger Standards (CA|TS), on the occasion of International Tiger Day on July 29, 2021. The National Tiger Conservation Authority (NTCA) recognized the ‘BaghRakshaks’ for their efforts in protecting Tigers and forests. The NTCA’s quarterly newsletter STRIPES was also released during the event.The 14 tiger reserves of India that have received prestigious global accreditation from CA|TS are:

(1) Mudumalai and Anamalai Tiger Reserves, Tamil Nadu

(2) Bandipur Tiger Reserve, Karnataka

(3) Parambikulam Tiger Reserve, Kerala

(4) Sunderbans Tiger Reserve, West Bengal

(5) Dudhwa Tiger Reserve, Uttar Pradesh

(6) Valmiki Tiger Reserve, Bihar

(7) Pench Tiger Reserve, Maharashtra

(8) Satpura, Kanha and Panna Tiger Reserves, Madhya Pradesh

 

4. BIAL signs a deal with IBM to set up ‘Airport in a Box’ platform: Bangalore International Airport Limited (BIAL), has signed a ten-year partnership with the company IBM to set up the ‘Airport in a Box’ platform. The partnership is designed to help Bangalore International Airport Limited (BIAL) improve its productivity, automate its information technology services, increase operational flexibility to handle future growth in passenger traffic and reduce costs.

The airport operator chose IBM Global Business Services, IBM hybrid cloud capabilities and Kyndryl, the new, independent company that will be created following the separation of IBM’s Managed Infrastructure Services business, to design and implement a next-generation architecture with a dynamic delivery model. The new platform will enable it to improve employee productivity, upgrade utilisation of IT assets, reduce costs through streamlined inventory control and improve incident management.

Note: IBM CEO: Arvind Krishna; IBM Headquarters: Armonk, New York, United States.

 

5. Intel launches ‘AI For All’ initiative in collaboration with CBSE: Intel in collaboration with the Central Board of Secondary Education (CBSE), Ministry of Education, announced the launch of the AI For All initiative with the purpose of creating a basic understanding of artificial intelligence (AI) for everyone in India. Based on Intel’s AI For Citizens program, AI For All is a 4-hour, self-paced learning program that demystifies AI in an inclusive manner. It is as applicable to a student, a stay at home parent as it is to a professional in any field or even a senior citizen. The program aims to introduce AI to 1 million citizens in its first year. Partnerships and Initiatives at Intel.

Note: Intel Chief Executive Officer: Pat Gelsinger; Intel Founded: 18 July 1968; Intel Headquarters: Santa Clara, California, United States; Intel Founders: Gordon Moore and Robert Noyce.

 

INTERNATIONALUPDATES:

 

1. MeenakashiLekhi leads Indian delegation at G20 Culture Ministers’ Meeting: MeenakashiLekhi, the Minister of State for Culture of India participated in the G20 Culture Ministers’ Meeting on behalf of the Government of India. The two-day meeting was hosted by Italy on July 29 and 30 July 2021, during their ongoing Presidency of G20 in 2021. At the end of the discussions, the G20 Ministers of Culture adopted the G20 Culture Working Group Terms of Reference.

The main topic of discussion were: Protection of Cultural Heritage; Addressing the Climate Crisis through Culture; Building Capacity through Training and Education; Digital Transition and New Technologies for Culture; and Culture and Creative Sectors as drivers for growth.

 

2. Muslim Women’s Rights Day: 1st August: In India, “Muslim Women’s Rights Day” is celebrated across the nation on August 01 to celebrate the enactment of the law against Triple Talaq. The first Muslim Women’s Rights Day was observed in 2020. The Government of India enacted the law against Triple Talaq on August 01, 2019 to make the social malpractice of Triple Talaq a criminal offence. The law is formally called the Muslim Women (Protection of Rights on Marriage) Act, 2019. It prohibits the practice of instant divorce by Muslim men and any violation of the law is punishable by a jail term of up to three years.

 

3. World Breastfeeding Week 2021: 1st to 7th August: The World Breastfeeding Week (WBW) is marked every year in the first week of August, between 1 to 7 August, to raise awareness on the importance of breastfeeding for mothers and infants. The theme of the World Breastfeeding Week 2021 is “Protect Breastfeeding: A Shared Responsibility​”. The annual week is organized by WABA, WHO and UNICEF since 1991.

About Breastfeeding: Breastfeeding provides every child with the best possible start in life. It delivers health, nutritional and emotional benefits to both children and mothers. And it forms part of a sustainable food system. But while breastfeeding is a natural process, it is not always easy. Mothers need support – both to get started and to sustain breastfeeding.

Note: World Alliance for Breastfeeding Headquarters: Penang, Malaysia; World Alliance for Breastfeeding Founder: Anwar Fazal; World Alliance for Breastfeeding Founded: 14 February 1991.

 

OTHER UPDATES:

 

SPORTS

 

1. PV Sindhu Wins Bronze in Women’s Badminton at Tokyo Olympics: Ace Indian badminton player PV Sindhu defeated China’s He Bingjiao to win the bronze medal in the women’s singles event at the Tokyo Olympics on August 01, 2021. With this win, Sindhu scripted history by becoming the first Indian woman and the only second Indian athlete to win two Olympic medals in individual events. Earlier she won the silver in women’s singles badminton at the Rio Olympics in 2016. This is India’s second medal at the Tokyo Olympics 2020.

 

BANKING AND FINANCE

 

1. HDFC Bank, ICICI and Axis pick up stake in blockchain start-up: Three of India’s biggest private lenders – ICICI Bank, HDFC Bank and Axis Bank have taken stakes in the blockchain financial technology firm IBBIC Pvt Ltd. HDFC Bank and Axis Bank invested ₹5 lakh each for the shares. ICICI Bank also said it has subscribed to 49,000 fully paid-up equity shares of face value ₹10 each of IBBIC constituting 5.44 per cent of the issued and paid-up share capital. It paid ₹4.9 lakh for the shares.

About the IBBIC: IBBIC was incorporated on May 25 this year as a financial technology company with the objective of providing a platform for exploring, building, and implementing distributed ledger technology (DLT) solutions for the Indian financial services sector. About 15 banks have come together to set up IBBIC, with an aim to expand the use of blockchain applications in financial sector transactions.

 

BUSINESS AND ECONOMY

 

1. Modi govt’s fiscal deficit touches 18.2% of annual target: The central government’s fiscal deficit stood at Rs 2.74 lakh crore or 18.2 per cent of the full year’s Budget estimate at the end of June, according to data released by the Controller General of Accounts (CGA). The fiscal deficit at the end of June 2020 was 83.2 per cent of the Budget Estimates (BE) of 2020-21. The fiscal deficit or the gap between expenditure and revenue for 2020-21 was 9.3 per cent of the Gross Domestic Product (GDP), better than 9.5 per cent projected in the revised estimates in the Budget in February.

As per CGA data, the government received Rs 5.47 lakh crore (27.7 per cent of corresponding BE 2021-22 of total receipts) up to June 2021. The amount comprises Rs 4.12 lakh crore of tax revenues, Rs 1.27 lakh crore of non-tax revenues and Rs 7,402 crore of non-debt capital receipts. The receipts were 6.8 per cent of BE at the end of June 2020. Out of the total revenue expenditure, Rs 1.84 lakh crore was for interest payments and about Rs 1 lakh crore was on account of major subsidies.

 

2. Bharat BillPay appoints PayU’sNoopurChaturvedi as new CEO: Bharat Bill Payment System has appointed former PayU and Airtel Payments Bank executive NoopurChaturvedi as its new chief executive officer. Chaturvedi, prior to this appointment, was the country head for small and medium businesses at PayU. In a career spanning nearly two decades, she has worked with Airtel Payments Bank, Samsung, ING Vysya Bank and Citibank in various senior roles.

About the Bharat BillPay: Bharat BillPay is an interoperable and integrated bill payment system for online as well as agent-based settlement of recurring bills. On April 1 this year, NPCI transferred all its BBPS mandates to a newly set up subsidiary called the NPCI Bharat BillPay Limited (NBBL), effectively hiving off its automated billing business. Founded in 2013.

 

DEFENCE

 

1. 36th edition of CORPAT between India and Indonesia begins: The 36th edition of CORPAT between India and Indonesia is being held on 30 and 31 July 2021, in the Indian Ocean region. The Indian Naval Ship (INS) Saryu, an indigenously built Offshore Patrol Vessel and Indonesian Naval Ship KRI Bung Tomo is undertaking coordinated patrol (CORPAT). Besides this, Maritime Patrol Aircraft from both nations are also participating. The exercise is being conducted as a ‘non-contact, at sea only’ exercise in view of the COVID-19 pandemic. India and Indonesia have been conducting the Coordinated Patrols along the International Maritime Boundary Line (IMBL) since 2002 twice a year.

About the CORPAT: The basic aim of CORPAT is to keep the Indian Ocean Region safe and secure for commercial shipping, international trade and conduct of legitimate maritime activities. CORPATs help build understanding and interoperability between navies and facilitate the institution of measures to prevent and suppress Illegal Unreported Unregulated (IUU) fishing, drug trafficking, maritime terrorism, armed robbery and piracy.