Daily GK Update- 5th Aug, 2021

 

NATIONAL UPDATES:

 

1. Indian Olympics contingent to be Guests at Independence Day: Prime Minister Narendra Modi will invite India’s Olympic contingent as special guests for Independence Day celebrations on August 15. Modi will also invite contingent to his residence for interaction. This year, India has been represented by a 228-strong contingent that includes 120 athletes at the Tokyo Olympics. PM Narendra Modi supported and encouraged the Olympians throughout the events. He also congratulated the winners and appreciated the ones who made India proud.

 

2. Union Cabinet approves continuation of 1,023 fast track special courts: The Union Cabinet has approved the continuation of 1,023 fast track special courts, including 389 exclusive POCSO courts, as a centrally sponsored scheme for another two years. Union minister Anurag Thakur said out of 31 states and union territories, 28 have started the scheme. West Bengal is one of the states which has not started the scheme. The scheme would continue from April 1, 2021, to March 31, 2023, with an outlay of Rs 1572.86 crore — Rs 971.70 crore as central share and Rs 601.16 crore as state share. The central share is to be funded from the ‘Nirbhaya’ Fund. The scheme was launched on October 2, 2019.

To bring more stringent provisions and expeditious trial and disposal of such cases, the Criminal Law (Amendment) Act, 2018 was enacted which made provision of stringent punishment, including the death penalty, for perpetrators of rape. This led to the establishment of the fast track special courts. These are dedicated courts expected to ensure swift dispensation of justice. They have a better clearance rate as compared to the regular courts and hold speedy trials. Besides providing quick justice to the victims, it strengthens the deterrence framework for sexual offenders.

 

3. A book on Leopard titled ‘Leopard Diaries – the Rosette in India’ by Sanjay Gubbi: Wildlife Biologist, Sanjay Gubbi authored a book about Leopard titled ‘Leopard Diaries – the Rosette in India’, in which he says about the food habits, ecological context, and conservation of Leopard along with the suggestions to overcome leopard–human conflict. The book also details Sanjay Gubbi’s practical engagement as a conflict manager, adviser to the State government, and leopard PR (Public Relations) person. The book was published by Westland. Leopard is one of the five extant species in the genus Panthera, a member of the cat family, Felidae. As per the government’s report, Madhya Pradesh has the highest number of leopards, about 26 per cent of the total number estimated in the country.

 

INTERNATIONALUPDATES:

 

1. ShehrozeKashif becomes world’s youngest mountaineer to scale K2: A 19-year old Pakistani climber ShehrozeKashif became the youngest person in the world to reach the summit of K2, the second-highest peak in the world. ShehrozeKashif from Lahore achieved the feat of scaling the 8,611-metre high peak with the aid of bottled oxygen. Before Kashif, SajidSadpara, the son of the legendary climber Muhammad Ali Sadpara, was the youngest person to have climbed K2 at the age of 20. Kashif also scaled the world’s 12th-highest mountain, the 8,047-meter Broad Peak, at the age of 17. In May this year, he became the youngest Pakistani to scale Mount Everest. Pakistan, Nepal, and China are home to the 14 highest peaks in the world, also known as the 8,000ers. Five 8,000-metre peaks, including K2 and Nanga Parbat, are in Pakistan.

Note: Pakistan Capital: Islamabad; Pakistan President: ArifAlvi; Pakistan Prime minister: Imran Khan; Pakistan Currency: Pakistani rupee.

 

2. Mumbai, Bengaluru lose top-100 spots in QS Best Student Cities Ranking: Mumbai and Bengaluru are out of the global top-100 list and are currently ranking at 106 and 110, respectively in the latest edition of the QS Best Student Cities Ranking. While Mumbai lost 29 places, Bengaluru fell by 21 places in the ninth edition of the rankings brought out by global higher education analysts QS Quacquarelli Symonds. Globally, the results, which enable students to compare 115 premier educational destinations, see London retain its status as the world’s best student city for the third consecutive edition. It is followed by Munich, which rises from 4th to 2nd. Seoul, which jumps from 10th to joint-3rd, shares the bronze-medal position with Olympic hosts Tokyo.

 

3. ESA launched ‘Eutelsat Quantum’ revolutionary reprogrammable Satellite: European Space Agency (ESA) launched ‘Eutelsat Quantum’, the world’s 1st commercial reprogrammable satellite into space aboard Ariane 5 rocket from French Guiana. It is a fully flexible software-defined satellite. The satellite has been developed under a European Space Agency partnership project with satellite operator Eutelsat, Airbus & Surrey Satellite Technology.

A reprogrammable satellite allows the user to repurpose it even after being launched into orbit. It can be reprogrammed in real-time to suit the changing purposes of the user. The Quantum satellite is capable of responding to changing demands for data transmission and secure communication during its lifespan of 15 years and will cover the areas from West Africa to Asia. The satellite will remain in geostationary orbit for its 15-year lifespan, after which it will be safely placed in a graveyard orbit away from Earth to avoid becoming a risk to other satellites.

About the Satellite: Eutelsat Quantum is a UK flagship project with most of the satellites developed and manufactured by British industry. Airbus is the prime contractor and was responsible for building the satellite’s innovative payload, while Surrey Satellite Technology Ltd manufactured the new platform. The innovative phase array antenna was developed by Airbus in Spain.

Note: European Space Agency is an intergovernmental organization of 22 member states; European Space Agency was established in 1975 and headquartered in Paris.

 

OTHER UPDATES:

 

SPORTS

 

1. Tokyo Olympics 2020: Boxer LovlinaBorgohain Claims Bronze Medal: Indian Boxer, LovlinaBorgohain has failed to reach the gold medal final match. She settles for a bronze medal. This is India’s third medal of the ongoing Tokyo Olympics. She lost to BusenazSurmeneli of Turkey by unanimous decision in the women’s welterweight (69 kg) semifinal at Tokyo 2020. Lovlina had already assured India of their first boxing medal at the ongoing Olympic Games when she upstaged former world champion, Nien-Chin Chen of Taiwan, to enter the semis.

 

2. India wins bronze in men’s hockey, beat Germany 5-4: Indian men’s hockey team defeated Germany to win their first-ever Olympic medal in 41 years. India wins the bronze medal in men’s hockey after beating Germany 5-4 at Tokyo Olympics. Before this podium finish for bronze, India last climbed up the Olympic podium in 1980, when it won its 8th gold at the Games. Simranjeet Singh scored two goals for India at the Oi Hockey Stadium, along with Hardik Singh, Harmanpreet Singh and Rupinder Pal Singh also adding their names on the scoresheet.

 

BANKING AND FINANCE

 

1. RBI Authorises IndusInd Bank to act as an ‘Agency Bank’: The IndusInd Bank has been empanelled by the Reserve Bank of India (RBI) to act as an ‘Agency Bank’. As an Agency Bank, IndusInd becomes eligible to carry out transactions related to all kinds of government-led businesses. This decision is based on the RBI guideline that authorises scheduled private sector banks as agency banks of the regulator for the conduct of government business. IndusInd Bank now joins few other private banks of the country listed as Agency Bank of RBI, to carry out general banking business on behalf of the central and state government, apart from offering its customers the convenience of undertaking routine financial transactions through its banking platform.

As an empanelled ‘Agency Bank’, IndusInd Bank can perform certain transactions such as:

(1) Handle transactions pertaining to revenue receipts under CBDT, CCBIC and GST on behalf of the state/central government.

(2) Make transactions for pension payments on behalf of state/central government work related to Small Savings Schemes (SSS).

(3) Collection of stamp duty charges, and collection of stamp duty from citizens for the franking of documents.

(4) Undertake the collection of state taxes such as professional tax, VAT, state excise etc. on behalf of various state governments, among other things.

Note: The IndusInd Bank CEO: SumantKathpalia; The IndusInd Bank Headquarters: Pune; The IndusInd Bank Owner: Hinduja Group; The IndusInd Bank Founder: S. P. Hinduja; The IndusInd Bank Founded: April 1994, Mumbai.

 

2. Mini Ipe appointed as LIC MD ahead of proposed IPO: Mini Ipe took charge as managing director of Life Insurance Corporation of India. Ipe is a post-graduate in commerce and joined LIC in 1986 as a direct recruit officer. She has a diverse experience in LIC having worked in various capacities. Before taking charge as managing director, she was executive director, legal department, LIC of India. Mini Ipe was the first woman zonal manager (in-charge) of LIC and headed SCZO, Hyderabad. She has also worked as executive director (international operations), director and CEO of LICHFL Financial Services Ltd. She has also worked as regional manager (P&IR) and regional manager (estate) of the western zone. Ipe joins the team of other MDs at LIC, including Mukesh Kumar Gupta, Raj Kumar and Siddhartha Mohanty.

Note: LIC Headquarters: Mumbai; LIC Founded: 1 September 1956; LIC Chairman: M R Kumar.

 

BUSINESS AND ECONOMY

 

1. GoI cuts Mudra loans target to Rs 3 trillion in FY22: The government has set the loans disbursement target under the PM Mudra Yojana (PMMY) at Rs 3 trillion for 2021-22 (FY22). This target is lower than the previous year. For FY21, the target was set at Rs 3.21 trillion. Experts attribute the lower target to increased allocation under the credit guarantee scheme for small businesses. Under PMMY, credit up to Rs 10 lakh is provided by banks and non-banking financial companies for entrepreneurial activities to small business units, including for new enterprises in sectors such as manufacturing, trading, services and activities allied to agriculture. The central government allocates annual targets for sanctioning of loans under the scheme. In FY22, loans worth Rs 3,804 crore have been sanctioned by 13 public sector banks (PSBs) as of June 25.

 

DEFENCE

 

1. Ordnance Factory launches new weapon ‘Trichy Carbine’: The Ordnance Factory Tiruchirappalli (OFT) in Tamil Nadu launched a new high-tech and low sound weapon called TriCa (Trichy Carbine), a mini version of the Trichy Assault Rifle (TAR). It was unveiled by General Manager of OFT Sanjay Dwivedi, IOFS (Indian Ordnance Factories Service) during a function.Features of TriCa:

Size of TriCa: 7.62 X 39 mm portable weapon launched on the carbine platform

Weight of TriCa: 3.17 kg (including the magazine) and

Range of TriCa: 150 to 175 metres

The lighter and compact weapon, carbine TriCa is designed for the infantry combat vehicle, helicopter crew and security personnel for operations that call for a compact and relatively powerful individual automatic weapon. The weapon is also for paratroopers, police and security personnel guarding highly secure facilities such as airports, and for use by the Special Operation Forces.

 

2. IAF inducts 2nd squadron of Rafale aircraft at West Bengal’s Hasimara: The Indian Air Force (IAF) has formally inducted the second squadron of Rafale jets at West Bengal’s Hasimara airbase in Eastern Air Command (EAC). The event included a fly-past heralding the arrival of Rafale to Hasimara, followed by a traditional water cannon salute. Recalling the glorious history of 101 Squadron, which bestowed upon them the title of ‘Falcons of Chamb and Akhnoor’, Bhadauria urged the personnel to combine their zeal and commitment with the unmatched potential of the newly inducted platform.

Hasimara is the second IAF base to be equipped with Rafale aircraft. The first squadron of the Rafale jets is stationed at Ambala Air Force station. India has so far received 26 Rafale aircraft out of the 36 it has ordered from Dassault Aviation. The first batch of five Rafale jets arrived in India on 29 July 2020, nearly four years after India signed an inter-governmental agreement with France to procure 36 aircraft at a cost of ₹59,000 crores. The Rafale jets are India’s first major acquisition of fighter planes in 23 years after the Sukhoi jets were imported from Russia. The Rafale jet is capable of carrying a range of potent weapons.

About the Rafale jets: The multi-role Rafale jets, built by French aerospace major Dassault Aviation, are known for air superiority and precision strikes. European missile maker MBDA’s Meteor beyond visual range air-to-air missile and Scalp cruise missile will be the mainstay of the weapons package of the Rafale jets.

Daily GK Update- 4th Aug, 2021

 

NATIONAL UPDATES:

 

1. Cabinet approves DICGC act ensuring Rs 5 lakh for depositors in 90 days: The Union Cabinet cleared changes to the deposit insurance laws to provide funds up to Rs 5 lakh to an account holder within 90 days in the event of a bank coming under the moratorium imposed by the RBI. Earlier, account holders had to wait for years till the liquidation or restructuring of a distressed lender to get their deposits that are insured against default. The government has also permitted raising the deposit insurance premium by 20 per cent immediately, and maximum by 50 per cent. The premium is paid by banks to the DICGC. The Centre plans to introduce the Deposit Insurance & Credit Guarantee Corporation (Amendment) Bill 2021 in the ongoing Monsoon session of Parliament.

 

2. Government releases Rs 8257.88 cr to States, UTs towards India Covid-19 Emergency Response and Health System Preparedness Package in 2020-21: The Government has released 8257.88 crore to the States and Union Territories towards the India Covid-19 Emergency Response and Health System Preparedness Package during 2020-21. Similarly, 1113.21 crore rupees was released during the financial year 2019-20. 23 thousand 123 crores rupees approved by the Cabinet under India Covid-19 Emergency Response and Health System Preparedness Package- Phase-II to be implemented from 1st July 2021 to 31st March 2022. This includes 15 thousand crore as Central Component and 8123 crore as State component.

 

3. Government nod to 100% FDI in oil PSUs approved for stake sale: The Department for Promotion of Industry and Internal Trade (DPIIT) issued an executive order to allow 100 per cent foreign direct investment (FDI) under automatic route for oil and gas PSUs, in case an in-principle approval for strategic disinvestment has been approved by the government. The development was followed by the Union Cabinet’s approval regarding the same on July 22. The move will expand the scope for FDI in the privatisation of Bharat Petroleum Corporation Ltd (BPCL) and enable the sale of the government’s 52.98 per cent stake in the company to a foreign buyer. It will also open the door for FDI in other public sector companies in the oil sector put up for privatisation.

 

4. A new book titled “My Own Mazagon” by Captain Ramesh Babu: A new book titled “My Own Mazagon” has authored by Captain Ramesh Babu. The book published by Indus Source Books features the history and story of Mazagon, the island which was merged into a single entity as Bombay. The Book will be jointly released by Vice Admiral R. Hari Kumar, Flag Officer Commanding in Chief, Western Naval Command, Vice Admiral Narayan Prasad, (Retd.), CMDMazagon Dock Shipbuilders Limited. The Book rediscovers the forgotten history of Mazagon and resurrects the identity of MazaGaon, or ‘My own Village’. Captain Ramesh Babu retired from Mumbai after serving the Indian Navy at Mazagon Dock. Other books authored by Capt. Babu: “After You Sir: A Collection of School Stories” and “Calicut Heritage Trails”.

 

INTERNATIONALUPDATES:

 

1. IMF approves historic $650 bln allocation of Special Drawing Rights: The Board of Governors of the International Monetary Fund (IMF) have approved a record general allocation of $650 billion in IMF Special Drawing Rights (SDR), to help boost global liquidity. The $650 billion SDR allocation aims to support member countries, especially emerging and developing nations, battling the coronavirus pandemic and the economic downturn it has caused. This allocation is the largest-ever distribution in the IMF’s 77-year history, in terms of monetary reserves assets. The allocation will become effective from August 23, 2021. The newly created SDRs will be credited to member countries in proportion to their existing quotas shareholding in the Fund.

Note: IMF Headquarters: Washington, D.C. U.S; IMF Managing Director and Chairman: Kristalina Georgieva; IMF Chief Economist: Gita Gopinath.

 

2. World’s largest star sapphire cluster found in a Sri Lankan backyard: World’s largest star sapphire cluster has been found in Ratnapura, Srilanka. The stone is pale blue in colour. It was found by labourers while digging a well in a gem trader’s home. Ratnapura is known as the gem capital of the country. The sapphire cluster weighs around 510kgs or 2.5 million carats. It has an estimated value of up to $100 million in the international market.

Note: Sri Lanka Capitals: Sri Jayawardenepura Kotte; Currency: Sri Lankan rupee; Sri Lanka Prime Minister: Mahinda Rajapaksa; Sri Lanka President: Gotabaya Rajapaksa.

 

OTHER UPDATES:

 

SPORTS

 

1. Alexander Zverev wins gold in men’s singles tennis at Tokyo Olympics 2020: Germany’s Alexander Zverev beats Russian Karen Khachanov 6-3 6-1 to win the men’s singles gold at the Tokyo Olympics. He became the first German man to win singles Olympic gold. The 24-year-old, who has yet to win a Grand Slam title, was in stunning form in the one-hour and 19-minute express contest to become the first German man to win a single Olympic gold. Zverev became only the second German to win Olympic singles gold, matching Steffi Graff’s achievement at the 1988 Seoul Olympics.

 

2. Anurag Thakur Launches Paralympic Theme Song “Kar De KamaalTu”: Union Minister for Youth Affairs and Sports, Anurag Singh Thakur launched the theme song for the Indian Paralympic contingent in New Delhi. The song is titled “Kar De KamaalTu”. The composer and singer of the song is Sanjeev Singh, a Divyang cricket player from Lucknow. 54 para-sportspersons across 9 sports disciplines are participating in Paralympic Games in Tokyo, beginning August 24, 2021.

 

BANKING AND FINANCE

 

1. SBI launches ‘SIM Binding’ feature for YONO: India’s largest lender State Bank of India (SBI) has launched a new and enhanced security feature for its YONO and YONO Lite apps, called ‘SIM Binding’, to protect customers from various digital frauds. Under the new SIM Binding feature, the YONO and YONO Lite apps will work only on those devices which have SIM of mobile numbers registered with the Bank. The main aim of the new version of the platform is to provide enhanced security to customers and help them with a convenient and safe online banking experience.

How to avail of the new service: SBI customers will have to update their mobile app, to get access to the new version of YONO and YONO Lite with enhanced security features. The users will need to complete the one-time registration process on these apps, where the bank will verify the SIM of the registered mobile number with the lender. Customers must register themselves with the device which has the SIM of the registered contact number.

Note: SBI Chairperson: Dinesh Kumar Khara; SBI Headquarters: Mumbai; SBI Founded: 1 July 1955.

 

2. IFC invests ₹916 crore in Federal Bank for 4.99% stake: IFC, along with two investment funds managed by IFC Asset Management Company (IFC Financial Institutions Growth Fund and IFC Emerging Asia Fund) have picked up 4.99 per cent stake in Federal Bank for ₹916 crore. The investment will support Federal Bank’s commitment to environmental social and governance (ESG) standards, and also strengthen its Tier 1 capital adequacy ratio (CAR) and expand its micro, small and medium sized enterprises (MSME) and climate finance portfolios.

 

3. Yes Bank, Indiabulls Housing Finance sign co-lending agreement: Yes Bank and Indiabulls Housing Finance have entered into a co-lending agreement for home loans. The partnership aims at synergising capabilities to provide an efficient and seamless experience to retail home loan customers. The partnership is in line with Yes Bank’s strategy of expanding its retail franchise through a mix of organic and partnership-led origination models.

 

4. RTGS, NEFT payment systems opened up for non-banks in phases: RBI: The Reserve Bank of India said that it has allowed non-banks to participate in its Centralised Payment Systems (CPS) through Real Time Gross Settlement (RTGS) and National Electronic Fund Transfer (NEFT) systems, in a phased manner. To be sure, RBI in April had already said that non-banks would be allowed access to CPS viz. RTGS, NEFT in a phased manner. Till now, only banks were allowed to use RTGS and NEFT payments facilities.

 

BUSINESS AND ECONOMY

 

1. Centre’s fiscal deficit touch 18.2 pc of annual target at end of June: 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.In absolute terms, the fiscal deficit was at Rs 2,74,245 crore at the end of June. 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.

 

2. Amazon India, InCred join hands to offer credit to e-commerce retailers: InCred has entered into a strategic partnership with Amazon India to provide collateral-free, working capital loans of up to Rs 50 lakh to Amazon merchants via its seller portal. The InCred and Amazon India partnership aims to resolve this challenge by addressing the financial constraints of the Indian e-tailers. Both intend to empower them by extending quick, easy, and low-interest working capital loans based on their revenues, with minimal documentation and flexible repayment options.

 

3. YouTube to acquire video-based social commerce startup simsim: Google’s YouTube has signed a definitive agreement to buy video shopping app simsim as it looks to help discover and buy products from Indian retailers. The terms of the acquisition were not disclosed. In its blogpost, Google said this deal builds up on its ongoing investments in India that includes the $10 billion India Digitization Fund.

 

AWARDS AND HONOURS

 

1. DBS clinches global accolade for innovation in digital banking: DBS has been honoured as the global winner for Most Innovative in Digital Banking by Financial Times publication, The Banker, in its 2021 Innovation in Digital Banking Awards. The bank was also recognised as the Asia-Pacific winner and won in the Cyber Security category for its Secure Access and Remote Working Solution. The Banker’s Innovation in Digital Banking Awards recognises the most innovative banks across the world for their digital banking initiatives, strategy, and overall commitment to digital transformation. These awards, now in their second year, are the evolution of The Banker’s Technology Projects of the Year Awards. DBS is named Asia’s Best Bank & Asia’s Best Digital Bank in the Euromoney Regional Awards.

Note: DBS Bank Headquarters: Singapore; DBS Bank CEO: Piyush Gupta. 

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.