Daily GK Update- 5th Aug, 2022

 

NATIONAL UPDATES:

 

1. 6 National Highway projects launched in MP by Union Minister: In Indore, Madhya Pradesh, 6 National Highway projects totaling 119 km and costing Rs. 2300 crore were formally opened and the foundation stone was laid by Union Minister for Road Transport and Highways Shri Nitin Gadkari. Speaking at the event, Shri Gadkari stated that the projects being launched will facilitate progress by improving connectivity in Indore and the state. Key Points:

a)      Shri Nitin Gadkari said that the Rau Circle traffic problem will be solved and that things would become less congested. Craftspeople, students, and businesspeople in the surrounding areas will have increased chances with simple access from Indore.

b)      The villages in the Indore-Harda segment will be better connected to Indore. He stated that the expansion of the Dhar-Pithampur Industrial Corridor would result in more job opportunities.

c)       According to the Minister, travel times between Tejaji Nagar (Indore) and Burhanpur and Indore and Harda will be shortened, saving fuel. He claimed that travellers heading to Omkareshwar and Khandwa will have easy access to the routes.

d)      The State Government and NHAI signed a memorandum of understanding during this initiative to build ropeways at 14 designated locations in Madhya Pradesh.

 

2. Wild Life (Protection) Amendment Bill, 2021 approved by Lok Sabha: The Wild Life (Protection) Amendment Bill, 2021 is approved by the Lok Sabha. The Wild Life (Protection) Act of 1972 already protects a number of species, but the proposed legislation would also implement CITES, the Convention on International Trade in Endangered Species of Wild Fauna and Flora. The Rajya Sabha still needs to pass the Bill, though.

Wild Life (Protection) Amendment Bill, 2021: Key points:

a)      Development and the environment are accorded equal weight by the government. The number of protected areas in the nation has risen from 693 to 987 over the past eight years, including 52 tiger reserves.

b)      According to Bhupender Yadav, the Union Environment Minister, the government operates under the Vasudhaiva Kutumbakam principle and strives to improve both humankind and all other animal species. The Union Environment Minister has also urged people to avoid purchasing upscale goods derived from animals from threatened or endangered species.

Wild Life (Protection) Amendment Bill, 2021: Changes that are being proposed:

a)      To comply with the international treaty Convention on International Trade in Endangered Species of Wild Fauna and Flora, a specific chapter has reportedly been inserted.

b)      The proposed bill includes revisions for improved management of protected areas as well as justifications for certain approved activities like livestock movement or grazing as well as legitimate local community usage of drinking water until they receive a better relocation strategy.

c)       The Act now includes six schedules for specifically protected animals (four), plants (one), and vermin species (one). Small creatures that spread disease and contaminate food are referred to as vermin.

d)      In the proposed Bill, there are just four schedules overall because: (1) limiting the number of schedules for animals with special protections to two (one for greater protection level); (2) deletes the vermin species schedule, and (3) adds a new schedule for specimens classified in the CITES Appendices (scheduled specimens).

 

3. Ministry for Commerce & Industry: India recognising over 75000 startups so far: Union Minister for Commerce & Industry, Piyush Goyal has announced that India has achieved a landmark milestone, wherein 75000 startups have been recognized in the country. The Department for Promotion of Industry and Internal Trade (DPIIT) has recognized more than 75,000 startups- a milestone which coincides with the 75th year of independence.

About the Startup India program:

a)      Startup India program which was primarily set up to provide an enabling environment for the startups has today evolved into the launchpad for them.

b)      From providing funding to tax incentives, from support on intellectual property rights to eased public procurement, from enabling regulatory reforms to access to international fests and events, the Startup India program has become synonymous with sustainable economic growth.

c)       Out of the total recognized startups, around 12% cater to IT services, 9% to Healthcare and Life Sciences, 7% to education, 5% to professional and commercial services and 5% to agriculture.

d)      An impressive, 7.46 lakh jobs have been created by the Indian startup ecosystem, so far, which has been a 110% yearly increase over the last 6 years.

e)      The fact that about 49% of our startups are from Tier II & Tier III today is a validation of the tremendous potential of our country’s youth.

 

4. Kerala CM launched eggs and milk scheme for Anganwadi children: Kerala Chief Minister, Pinarayi Vijayan has inaugurated a project of the Women and Child Development department. This project help to provide milk and eggs to children at all Anganwadis in the state in a bid to improve their nutrition levels. The state government has set aside over Rs 61.5 crore to include milk and eggs in the Anganwadi menu this financial year. About the eggs and milk scheme:

a)      Under this scheme, which is considered as a first in the country, each child will be given 125 ml of milk two days a week for 44 weeks (10 months) and an egg twice a week.

b)      Under this project, four lakh children in the age group of 3-6 from the 33,115 anganwadis of the state will receive eggs and milk twice a week.

c)       The introduction of milk and eggs for Anganwadi children is intended to improve their nutritional parameters and assumes significance as ending hunger is one of the Sustainable Development Goals (SDGs) established by the United Nations.

Note: Kerala Capital: Thiruvananthapuram; Kerala Chief Minister: Pinarayi Vijayan; Kerala Governor: Arif Mohammad Khan.

 

5. IFS officer Shweta Singh appointed as Director of PMO: According to a Personnel Ministry, 2008 batch Indian Foreign Service (IFS) officer, Shweta Singh was appointed as a director in the Prime Minister’s Office (PMO). The Appointments Committee of the Cabinet (ACC) approved Singh’s appointment for a period of three years from the date of her joining. The ACC has cancelled the appointment of Aniket Govind Mandavgane, a 2009-batch IFS officer, as the Deputy Secretary in the PMO. Mandavgane was on July 18 appointed as the Deputy Secretary.

PMO: The Prime Minister’s Office consists of the immediate staff of the Prime Minister of India, as well as multiple levels of support staff reporting to the Prime Minister. The PMO is headed by the Principal Secretary, currently Pramod Kumar Misra.

 

INTERNATIONAL UPDATES:

 

1. India to host special meeting of UN SC Counterterrorism Committee: In October, India will host diplomats from the UN Security Council‘s 15 member countries for a special counterterrorism meeting. India’s two-year term as an elected non-permanent member of the UN Security Council is halfway over. In December of this year, India’s term on the Council will come to a close, and for that month, it will also serve as President of the influential UN body.

Key Points:

a)      India will welcome diplomats from the 15-nation Security Council, including the US, China, and Russia, for the special meeting of the Security Council Counter-Terrorism Committee in October. India will serve as the committee’s chair until 2022.

b)      Along with the five permanent members China, France, Russia, the UK, and the US, the Security Council currently includes Albania, Brazil, Gabon, Ghana, India, Ireland, Kenya, Mexico, Nigeria, and the United Arab Emirates.

c)       According to information on the Committee’s website, the UN Security Council Counter-Terrorism Committee (CTC) has decided to hold a special meeting on this topic in India on October 29, 2022, with the assistance of its Executive Directorate.

d)      This decision was made in light of the growing threat posed by the misuse of new and emerging technologies.

e)      The Counter-Terrorism Committee does not convene frequently outside of New York, but the meeting in India will be the seventh occasion for this. The CTC had its most recent special meeting outside of the UN headquarters in July 2015 in Madrid, Spain, with a focus on foreign terrorist fighters (FTFs).

 

2. IOCL and Bangladesh ink MoU to supply emergency petroleum products: A Memorandum of Understanding (MoU) for the emergency delivery of petroleum products via Bangladeshi territory to India was signed by the Indian Oil Corporation Limited (IOCL) and the Bangladesh Roads and Highways department in Dhaka. The Indian High Commission stated in a tweet that this is an interim setup to help with the urgent supply of petroleum products due to damage caused by the flood in Assam this year.

Oil tankers will enter from Meghalaya and travel into Bangladeshi territory on their way to Tripura. For use of Bangladeshi land, the IOCL shall be responsible for paying all administrative costs, fees, and local taxes, including the road usage fee. The MoU was signed to permit Indian cars to transfer petroleum from Assam to Tripura by road, which has been badly affected as a result of the recent floods in Assam and Tripura, according to a statement from Bangladesh’s Ministry of Foreign Affairs (MoFA).

Note: IOCL Chairman: Shrikant Madhav Vaidya

Bangladesh’s Prime Minister: Sheikh Hasina Wazed; Bangladesh’s Capital: Dhaka

 

OTHER UPDATES:

 

SPORTS

 

1. Commonwealth Games 2022: Tejaswin Shankar wins India’s first High Jump Medal: India’s Tejaswin Shankar won India’s first medal in athletics at the Commonwealth games 2022, by clinching a historic bronze in the men’s high jump final. Tejaswin, competing for India for the first time in four years nailed a landing of 2.22m to secure a podium finish. He did not have trouble clearing 2.5m and 2.10m in the opening two jumps. Then 2.19m and 2.22m quite easily on the first try. He though failed to clear 2.25 but clinched the bronze medal after being quicker to jump 2.22m against the fourth-placed athlete. He attempted 2.28m on his last jump but failed.

 

2. Commonwealth Games 2022: Tulika Maan wins silver in women’s 78kg judo event: Indian judoka, Tulika Maan settle for a silver medal in the women’s 78kg category in the Commonwealth Games 2022. Tulika Maan gets India’s second silver medal in Judo and third overall in the Judo, as she conceded a defeat by Ippon to Scotland’s Sarah Adlington in the Women’s +78kg final.

 

3. Commonwealth Games 2022: Saurav Ghosal wins India’s first-ever singles medal in squash: India’s Saurav Ghosal has clinched the bronze medal in squash men’s singles by beating James Willstrop of England 11-6, 11-1, 11-4 to take India’s Commonwealth Games 2022. This was also India’s first-ever medal in squash singles at the Games. He had lost the men’s singles semi-final 3-0 (11-9 11-4 11-1) to New Zealand’s Paul Coll.

 

4. Commonwealth Games 2022: Indian weightlifter Gurdeep Singh wins bronze in men’s: India’s Gurdeep Singh won a bronze medal in the men’s 109+kg weightlifting event. Gurdeep lifted a total weight of 390kg (167kg+223kg) in the final, as he won India’s 10th weightlifting medal at the ongoing edition of the Games. Gurdeep joined Gururaja Poojary and Lovepreet Singh to add a third bronze medal in weightlifting for India.

The gold went to Pakistan’s Muhammad Nooh Butt for his Games record-breaking lift of 405kg (173kg+232kg). New Zealand’s David Andrew Liti clinched the silver for his effort of 394kg (170kg+224kg).

 

5. 44th Chess Olympiad: Tania Sachdev Shines in Indian Women Team: Tania Sachdev has registered a 2.5-1.5 win for India against Hungary in the fourth-round match of women section at the 44th Chess Olympiad in Mamallapuram, Chennai. She thrashed Zsoka Gaal to earn a decisive point as well as a match for the team. Koneru Humpy, Dronavalli Harika and R Vaishali ended with a draw in their respective encounters.

 

BANKING AND FINANCE

 

1. RBI permitted use of INR for foreign commerce invoices and payments: Bhagwat Kisanrao Karad, the Union Minister of State for Finance, informed the Rajya Sabha that the Reserve Bank of India (RBI) has permitted foreign trade invoices and payments to be made in the Indian Rupee. By means of a circular titled International Trade Settlement in Indian Rupees (INR) that was published on July 11, 2022, the central bank has permitted payments for international trade in the Indian currency. Key Points:

a)      According to Paragraph 10 of the Circular, the approval process is that banks from partner countries may approach Authorised Dealer (AD) banks in India who may seek approval from RBI with information about the arrangement for the opening of Special INR Vostro accounts.

b)      In order to maintain the Special INR Vostro Account, the AD bank must make sure that the correspondent bank is not from one of the nations or regions listed in the most recent FATF Public Statement on High Risk & Non-Cooperative Jurisdictions, for which FATF has called for countermeasures.

 

BUSINESS AND ECONOMY

 

1. Fortune Global 500 list: LIC breaks into Fortune 500 list: Indian statutory insurance and investment corporation, Life Insurance Corporation (LIC) has broken into the latest Fortune Global 500 list. The nation’s biggest life insurer with revenue of USD 97.26 billion and a profit of USD 553.8 million, was ranked 98th on the just released Fortune 500 list. This is the first outing of LIC on the list, which ranks listed companies by sales.

Indian Companies ranking in the list:

a)      Reliance Industries jumped 51 places to 104 on the 2022 list. Reliance, with revenue of USD 93.98 billion and a net profit of USD 8.15 billion in the latest year, has been on the list for 19 years.

b)      Indian Oil Corporation (IOC) rose 28 places to 142nd rank while Oil and Natural Gas Corporation (ONGC) climbed 16 places to 190.

c)       The list had two Tata group firms — Tata Motors at 370 and Tata Steel at 435th spot. Rajesh Exports at 437th rank was the other private Indian company on the list.

d)      State Bank of India (SBI) climbed 17 places to rank 236th and Bharat Petroleum Corporation Ltd 19 places to 295.

Global companies:

a)      The list, topped by US retailer Walmart, has nine Indian companies — five of them state-owned, and four from the private sector.

b)      Walmart landed at No. 1 for the ninth straight year, trailed by Amazon, which reached its highest ranking ever. Chinese energy giants State Grid, China National Petroleum, and Sinopec rounded out the top five.

c)       For the first time, revenues from Global 500 companies in Greater China (including Taiwan) exceeded revenues from US companies on the list, accounting for 31 per cent of the total.

 

AWARDS AND HONOURS

 

1. Bihar’s Langat Singh College astronomy lab included in the Unesco heritage list: The astronomical observatory at the Langat Singh College, commonly known as L.S. College, Muzaffarpur, Bihar is now included in the UNESCO list of Important Endangered Heritage observatories of the world. The college authorities have requested the state government to conserve the old Astro lab as a specimen of the glorious past of the state and also to preserve and promote it as a heritage structure. The UNESCO team member informed him that the astronomical observatory at Muzaffarpur is now on the UNESCO list and it has been uploaded on the UNESCO site.

History of the astronomical observatory:

a)      According to the college records, it was developed in 1916 after a college professor felt the need of an Astro laboratory. Prof Romesh Chandra Sen was eager to have an astronomical observatory at the LS College, and in February 1914 he consulted J Mitchell, an amateur astronomer and principal of Wesleyan College, Bankura in West Bengal, seeking his guidance.  In 1915, the college acquired a telescope, astronomical clock, chronograph and other equipment from England after which the astronomical observatory started functioning in 1916.

Note: UNESCO Founded: 16 November 1945; UNESCO Headquarters: Paris, France; UNESCO Members: 193 countries; UNESCO Head: Audrey Azoulay.

 

OBITUARIES

 

1. Former Australian boxing world champion Johnny Famechon passes away: Former Australian featherweight boxing world champion Johnny Famechon has passed away. He was 77. He was associated with professional boxing for more than 20 years and had a record of 56 wins, which includes 20 by knockout, six draws and five losses. The Australian boxer’s most memorable world title victory was his WBC points decision win against Cuban Jose Legra at London’s Albert Hall in 1969. Famechon boxed professionally for more than 20 years and had a record of 56 wins, 20 by knockout, six draws and five losses.

Daily GK Update- 4th Aug, 2022

NATIONAL UPDATES:

 

1. GoI released commemorative postage stamp to honour Tricolour designer P Venkayya: The government of India released a special commemorative postage stamp to mark the 146th birth anniversary of Pingali Venkayya, the designer of India’s national flag. The stamp was released by Prime Minister Narendra Modi during an event “Tiranga Utsav” organised by the Ministry of Culture at Indira Gandhi Stadium, in New Delhi.

The event will also display the original design of the national flag made by Pingali Venkayya. The current flag is the modified version of the first design of the flag. The Tiranga Utsav will also witness the grand launch of the “Har Ghar Tiranga” anthem and video. Venkayya, born on August 02, 1876, near Machilipatnam town in Andhra Pradesh, was a freedom fighter and a follower of Gandhian principles.

 

2. Tiranga bike rally organised by Union Culture Minister G Kishan Reddy: A Har Ghar Tiranga Bike Rally by Members of Parliament was launched in Delhi from the famed Red Fort by Vice President M. Venkaiah Naidu. The Tiranga Bike rally is organised by Union Culture Minister G Kishan Reddy. In honour of Prime Minister Narendra Modi’s Har Ghar Tiranga campaign, a bike rally was held from Red Fort to Vijay Chowk. Additionally present were Union Ministers Pralhad Joshi and Piyush Goyal. About Har Ghar Tiranga Campaign:

a)      Our country is prepared for Har Ghar Tiranga, a nationwide movement to honour our Tricolor, at the same time that we are commemorating Azadi Ka Amrit Mahotsav.

b)      On the anniversary of his birth, the prime minister paid tribute to Pingali Venkayya, who had designed the flag.

c)       A wide range of events are planned by the government in advance of Independence Day.

d)      Between August 11 and August 13, the BJP members will also perform “prabhat pheri” at the booth level while playing Raghupati Raghav Raja Ram, a favourite devotional hymn of Mahatma Gandhi, or Vande Mataram, the national anthem of India.

e)      On August 14, the gathering will also commemorate Partition Horrors Remembrance Day.

 

3. Sujoy Lal Thaosen gets the additional charge of DG of ITBP: Sashastra Seema Bal’s director general in New Delhi, Dr. Sujoy Lal Thaosen assumed the additional responsibility of Director General of the Indo-Tibetan Border Police. Dr. Thaosen is a Madhya Pradesh Cadre IPS Officer from the 1988 batch. Dr. Thaosen received the charge and traditional baton from IPS Sanjay Arora. The ITBP, established in 1962, patrols the Indo-Chinese border. Additionally, it is used for a number of internal security tasks, such as anti-Naxal operations in Chhattisgarh.

 

4. A book titled “Lion of the Skies: Hardit Singh Malik” by Stephen Barker: A book titled “Lion of the Skies: Hardit Singh Malik, the Royal Air Force and the First World War” is all about an “India’s first fighter pilot” who participated in the World War, long before the Indian Air Force was born. The book has been written by author Stephen Barker.

During the First World War, Hardit Singh Malik served as a fighter pilot for both Royal Flying Corps (RFC) and the Royal Air Force (RAF) for fighting the Germans. He is also the first Indian Ambassador to France.

The essence of the book: Author Stephen Barker describes in great detail, how challenging it was for an Indian to serve in the British armed forces, fighting racial discrimination – both institutional and interpersonal. It is entirely to the credit of Hardit that he surpassed every obstacle with hope, enthusiasm, and the highest level of emotional maturity. As a young boy in school, he had to fight hard, just to keep his turban and faith intact.

 

INTERNATIONAL UPDATES:

 

1. UN General Assembly deemed healthy environment a Human Right: The United Nations General Assembly (UNGA) adopted a resolution that recognised everyone’s right to a healthy environment. It was stated that the action is a crucial one in halting the alarming decline of the natural environment. India supported the resolution but abstained from one of the resolution’s key clauses. It expressed dissatisfaction with the resolution’s methodology and content.

The UNGA recognises the right to a clean, healthy, and sustainable environment as a human right, according to the resolution’s operative paragraph 1. Ashish Sharma, a counsellor at India’s Permanent Mission to the UN, asked that this comment be recorded in the meeting’s official records. Resolution Adopted by UNGA:

a)      The UN General Assembly passed a resolution designating access to a clean, healthy, and sustainable environment as a fundamental human right with 161 votes in favour and eight against.

b)      The resolution, which is based on a text identical to one the Human Rights Council endorsed last year, urges governments, non-governmental organisations, and private companies to step up efforts to maintain a healthy environment for all people.

c)       The resolution that was adopted took fifty years to craft. The right was established in the Stockholm Declaration of 1972 and has since been incorporated into regional accords, national laws, and constitutions.

 

2. A book titled “Dangerous Earth” by Marine biologist Ellen Prager: Marine biologist Ellen Prager has come up with a book titled “Dangerous Earth: What we wish we knew about volcanoes, hurricanes, climate change, earthquakes and more”. In the book, the author seeks to respond to the most compelling question: Why can’t we better predict natural disasters?

About the book: In Dangerous Earth, marine scientist Ellen Prager explores the science of investigating volcanoes, earthquakes, tsunamis, hurricanes, landslides, rip currents, and–maybe the most perilous hazard of all–climate change. Each chapter considers a specific hazard, begins with a game-changing historical event, and highlights what remains unknown about these dynamic phenomena. Along the way, we hear from scientists trying to read Earth’s warning signs, pass its messages along to the rest of us, and prevent catastrophic loss.

 

OTHER UPDATES:

 

SPORTS

 

1. Commonwealth Games 2022: Indian Team bags gold in Lawn Bowl: India’s lawn bowls women’s fours team made history by winning the gold medal at the Commonwealth Games 2022. This was the country’s first medal in the lawn bowls event and the team, made of skipper Rupa Rani Tirkey, Lovely Choubey, Pinki and Nayanmoni Saikia, ended up winning the title itself after beating 2018 silver medallists South Africa. The Indian team won against South Africa with a 17-10 victory. This was also the Indian team’s maiden appearance in the women’s fours format of the finals of the tournament. India beat New Zealand in the semi-finals 16-13.

 

2. Commonwealth Games 2022: India’s Paddler’s wins gold in Table Tennis: India’s paddlers retained their men’s team championship title with a convincing 3-1 win over Singapore in the Table-Tennis Final of the Commonwealth Games 2022. For India, Harmeet Desai and G Sathiyan gave India a great start by registering a win in the doubles match. However, Chew Zhe Yu Clarence won the next game to level Singapore at 1-1. But G Sathiyan and Harmeet Desai ensured India’s gold by winning their respective matches.

 

3. Commonwealth Games 2022: Indian badminton team claimed the silver medal: Indian badminton team claimed the silver medal in the mixed group match of the Commonwealth Games 2022. Indian badminton mixed team suffered a 1-3 defeat against Malaysia and had to settle for silver. Only PV Sindhu managed to earn a win in the summit clash against Malaysia in the women’s singles match. All four matches between:

a)      In the first match of the tie, India’s Chirag Shetty and Satwiksairaj Rankireddy were locked in a tough first game against Malaysia’s Teng Fong Aaron Chia and Wooi Yik.

b)      In the second match of the tie, PV Sindhu took on Jin Wei Goh. The opening game of the match saw the double Olympic medallist playing aggressively to take one game lead over Malayasia’s Jin Wei Goh by 22-20.

c)       In the third match of the tie, Kidambi Srikanth went down 19-21 against Malaysia’s Ng Tze Yong in the opening game.

d)      After the match, Malaysia took a 2-1 lead. In the fourth match of the fixture, Treesa Jolly and Gayatri Gopichand went against Muralitharan Thinaah and Koong Le Pearly Tan. Indian pair lost the first game 18-21. The Malaysian pair won the second game 21-17 to clinch the gold medal in Games 2022.

 

4. Commonwealth Games 2022: Lovepreet Singh clinches bronze medal in men’s weightlifting: Lovepreet Singh has won bronze in the men’s 109kg weightlifting final with a total lift of 355kg, taking India’s medal tally in the Commonwealth Games 2022. Cameroon’s Junior has taken the lead with a total lift of 361kg. Samoa’s Jack Opeloge is second with a total lift of 358kg. Lovepreet Singh is third with a total lift of 355kg. Australia’s Jackson is the last man standing, trying to win a bronze. The Indian weightlifting contingent has now won a total of 9 medals.

 

BANKING AND FINANCE

 

1. SIDBI and SVC bank collaborate to increase loans to MSMEs: To increase the flow of loans to MSMEs, the SVC Co-operative Bank (SVC Bank) and the Small Industries Development Bank of India (SIDBI) have reached an agreement. Ashish Singhal, MD of SVC Bank, and Sanjeev Gupta, GM of SIDBI, inked the deal. For more than 115 years, SVC Bank has acted as a reliable partner for MSMEs. About the Agreement:

a)      According to the agreement, SIDBI would grant a refinancing facility to SVC Bank in order to promote loan flow, empower MSMEs, and strengthen economic ties.

b)      The MSME sector is the backbone of the Indian economy in terms of exports, employment creation, and revenue to the exchequer.

c)       SIDBI has now chosen to collaborate with several Urban Co-operative Banks (UCBs) and Regional Rural Banks in order to create a robust environment for the development of Indian MSMEs (RRBs).

d)      This is the first such contract that has been signed with a UCB. SIDBI plans to sign more of these agreements with UCBs and RRBs in different States.

 

BUSINESS AND ECONOMY

 

1. Jio getting ready to launch World’s Most Advanced 5G Network across India: Reliance Jio, owned by billionaire Mukesh Ambani, became the highest bidder for 5G spectrum, paying Rs 88,078 crore to buy over half of the airwaves offered in the most recent auction. The Adani group paid Rs 212 crore for 400 MHz, or less than 1% of all spectrum sold, according to Telecom Minister Ashwini Vaishnaw. Jio has also acquired the 700 MHz band.

Jio purchased spectrum across several bands, including the coveted 700 MHz band, which can provide 6-10 km of signal range and serves as a good foundation for   fifth generation (5G) in all 22 circles in the country. Adani Group purchased spectrum in the 26 GHz band, which is not for public networks. If 700 Mhz is used, a single towner can cover a larger area.

More about Spectrum auction for 5G:

a)      Bharti Airtel, owned by telecom mogul Sunil Bharti Mittal, paid Rs 43,084 crore for a 19,867 MHz airwave spread across multiple bands.

b)      Spectrum was purchased by Vodafone Idea Ltd for Rs 18,784 crore. Vaishnaw said that a total of 150,173 crore rupees in bids were received.

c)       51,236 MHz, or 71%, of the 72,098 MHz of spectrum offered over 10 bands, were purchased.

d)      A payment of Rs 13,365 crore will be made to the government for the spectrum in the first year.

 

DEFENCE

 

1. India Navy and France Navy conducted exercise in the Atlantic Ocean: The Indian Navy guided-missile frigate INS Tarkash, while on her long-range overseas deployment, conducted a Maritime Partnership Exercise (MPX) with French naval ships in the North Atlantic Ocean on July 29 and 30. INS Tarkash and French Fleet Tanker FNS Somme carried out a replenishment at sea, followed by cooperative air operations with the maritime surveillance aircraft Falcon 50, taking part in several mock missile engagements and air defence drills.

The successful conduct of these surface and aerial exercises symbolise the high degree of professionalism and interoperability that exists between the two navies. India and France are maritime nations with dynamic maritime economy sectors like marine technology and scientific research, fisheries, port and shipping, to name a few. Possessing vast exclusive economic zones, their fate is closely linked to the sea and the ocean.

 

2. Indian Air Force will retire all squadrons of MiG-21 by 2025: The Indian Air Force will retire one of its four remaining squadrons, MiG-21 (Russian combat aircraft) fighter jets by 2022 September and the other three are scheduled to be phased out by 2025. The old MiG-21s will be replaced with newer fighter jets. Six MiG-21s have been lost in crashes in the last 20 months, killing five pilots. The IAF also plans to start the phasing out of the three squadrons of MiG-29 fighter jets in the next five years.

History of MiG-21s: The MiG-21s were supposed to be retired a long time ago but delays in induction of the LCA Tejas aircraft have forced the IAF to continue flying these planes. The air force received its first single-engine MiG-21 in 1963. The fighter jet has participated in many operations like Safed Sagar (Kargil, 1999), the operation of India in Pakistan in February 2019. Currently, the IAF has around 70 Mig-21 aircraft and 50 Mig-29 variants.

 

3. India to participate combat exercise drill “Pitch Black 2022” in Australia: India will be part of the mega air combat exercise “Pitch Black 2022” among 17 nations, to be held in the Northern Territory of Australia. India’s participation in the exercise, “Pitch Black”, has been confirmed by the Australian government. Over 100 aircraft and 2,500 military personnel from 17 nations will be part of the drill. The exercise is scheduled to take place from August 19 to September 6. This year’s participants include Australia, Canada, India, France, Germany, Indonesia, Japan, Malaysia, the Netherlands, New Zealand, the Philippines, the Republic of Korea, Singapore, Thailand, the UAE, the UK and the US.

About the Ex Pitch Black: Ex Pitch Black is a biennial multi-national large force employment warfare exercise, hosted by Royal Australian Air Force (RAAF). The objectives of the exercise is to foster a closer relationship between the participating forces and promote interoperability through the exchange of knowledge and experience. The Royal Australian Air Force (RAAF) considers “Pitch Black” as its “capstone” international engagement activity with the air forces of strategic partners and allies.

Daily GK Update- 3rd Aug, 2022

 

NATIONAL UPDATES:

 

1. Prime Minister launch the IBU of Deutsche Bank at GIFT-IFSC: The Gujarat International Finance-Tec City (GIFT City) in Ahmedabad is home to the Deutsche Bank AG’s IFSC Banking Unit (IBU), which was opened by Prime Minister Narendra Modi. The IBU will first offer financial products in the areas of trade finance, fixed income, and currencies, according to Deutsche Bank AG. According to a release, the IBU will offer all authorised international finance products to Deutsche Bank‘s clients in India and abroad. Additionally, it will enable cash pooling and other deposit proposals for Indian and foreign clients within the parameters of the current regulations. Key Points:

a)      Deutsche Bank’s IBU will help its top clients obtain external commercial borrowing (ECB) financing and provide products including factoring and bank guarantees, all of which are anticipated to aid international clients in improving supply chain efficiency and lowering financing costs.

b)      The securities services offering will also serve all asset classes, including equities, fixed income, commodities, and derivatives, and will help increase investment flows.

c)       In order to help MSMEs (micro, small, and medium-sized businesses) grow internationally, Deutsche Bank intends to provide trade credit solutions.

d)      The GIFT City IBU will give the bank the ability to offer liquidity in INR to foreign investors and foreign corporations with exposure to India on a 24/7 basis.

Note: Chief Executive Officer, Deutsche Bank Group, India: Kaushik Shaparia; CEO of Deutsche Bank, Asia Pacific and Member of the Management Board: Alexander von zur Muehlen; Headquarters: Frankfurt, Germany,

 

2. Monkeypox virus: Centre creates special task force under VK Paul: The Centre announced that it will set up a task force to keep track of monkeypox cases in India. Dr. VK Paul, Member (Health), Niti Aayog, will serve as the team’s leader, and members will include the Secretaries of the Union Health Ministry, Pharma, and Biotech. Dr. Paul countered that there was no need for excessive alarm but that society and the nation should remain on guard. Key Points:

a)      After India reported its first fatality from monkeypox, this step was taken. A man from Kerala who had tested positive for monkeypox in another nation passed away in Thrissur.

b)      The death from monkeypox would be the fourth outside of Africa and the first to occur in India. The young person, according to sources, arrived in Kerala on July 22 from the United Arab Emirates.

c)       In Punnayur, the health department summoned a conference after a young man allegedly died from monkeypox. A contact list and route plan for the deceased youth have been created in the interim. It is advised that contact people move into isolation.

d)      Notably, India has so far documented five instances of monkeypox, with three cases occurring in Kerala, one in Delhi, and one in Guntur, Andhra Pradesh.

 

3. Aurangabad: First smart city in India to receive data from Google’s EIE: The Environmental Insights Explorer (EIE) data from Google was officially released in Aurangabad, according to the Aurangabad Smart City Development Corporation Limited (ASCDCL). This makes Aurangabad the first city in the nation to experience this. The data would aid research groups in formulating sustainable solutions for the city, according to ASCDCL authorities, who noted that the EIE dashboard for Aurangabad was introduced by Google during an event in New Delhi.

According to ASCDCL officials, the latest breakthrough is consistent with the city’s commitment to the United Nations’ “race to zero” and “race to resilience” programmes and will help create a sustainable environment for future generations. Soon, Google’s EIE parameters for Aurangabad and its official study will be made available to the public.

 

4. Nilekani Center established by IIT-M to promote Indian language technology: The Nilekani Centre at AI4Bharat was established by the Indian Institute of Technology (IIT) Madras to advance the state of Indian language technology and make a positive social impact. Rohini and Nandan Nilekani have donated Rs 36 crore through Nilekani Philanthropies to fund this Center, which was opened by Nandan Nilekani. IIT Madras launched the AI4Bharat programme to create open-source language AI for Indian languages.

The center’s main goal will be to carry out fundamental research that will be helpful to society as a whole. All the research data would be accessible to start-ups and other sectors working on Indian language technology because the objective is to energise the ecosystem to do more for Indian languages.

 

5. Odisha CM Naveen Patnaik releases a book titled ‘Lockdown Lyrics’: Odisha Chief Minister Naveen Patnaik has released a book titled Lockdown Lyrics’, a collection of poems written by Sanjukta Dash. The poems are an unadulterated narration of the author’s experiences and exasperations during the pandemic. She has reflected all the trauma & tribulations and hope and aspirations of humanity during this most critical journey of society in a long time.

 

INTERNATIONAL UPDATES:

 

1. Japan, US, and South Korea participate in missile defence drill: A joint ballistic missile defence exercise between South Korea, the US, and Japan will begin this week in the waters off Hawaii as part of increased security cooperation against North Korea‘s growing military threats, a media outlet claimed. According to the sources, the biannual Pacific Dragon drill will take place. Australia and Canada will also take part in the exercise in the edition of 2022, in addition to the three other nations. Key Points:

a)      The exercise, which involves the mobilisation of eight warships and two planes, aims to improve coordination between the participating nations in the identification, tracking, and reporting of ballistic missile targets.

b)      The exercise was planned after the defence chiefs of South Korea, the United States, and Japan decided to improve their security coordination during their trilateral meeting on June 11 in Singapore, which was held in conjunction with the annual Shangri-La Dialogue.

c)       The South Korea-US-Japan missile warning and ballistic missile search and tracking exercises will go forward, the three parties decided at the meeting.

d)      The trainings had been going on quietly since 2018 as part of initiatives to promote diplomacy with North Korea.

e)      Concerns that the North would undertake what would be its seventh nuclear test or other provocative actions to ‘ratchet up tensions’ have led to the three countries to recently be seen uniting.

 

2. Auguste Tano Kouamé appoints World Bank’s New Country Director for India: The World Bank has appointed Auguste Tano Kouamé as the Country Director for India, effective. He replaces Junaid Kamal Ahmad who recently completed a five-year term. He most recently served as the World Bank’s Country Director for the Republic of Türkiye, where he led the expansion of the Bank’s country program and deepened its support to Türkiye’s climate agenda. Prior to this, he served as Director of the Department of Human Development and Economic Management in the World Bank Group’s Independent Evaluation Group (IEG) from January 2017 to April 2019.

 

OTHER UPDATES:

 

SPORTS

 

1. Commonwealth Games 2022: Weightlifter Harjinder Kaur claimed the bronze medal: India’s Harjinder Kaur claimed the bronze medal in the women’s 71kg weightlifting at the Commonwealth Games 2022 at Birmingham. England’s Sarah Davies won gold with a Commonwealth Games record of 229kg, while young Alexis Ashworth of Canada won silver with a total lift of 214kg. ‘

 

2. Commonwealth Games 2022: In Judo, Shushila Devi Likmabam won the silver medal: Shushila Devi Likmabam got a silver in the women’s judo 48kg final, giving India its seventh medal of the Commonwealth Games 2022. Shushila had defeated Harriet Bonface in the quarterfinal, and notched up a second win by beating Priscilla Morand of Mauritius in the semis to assure herself a medal. Sushila was in for a gold finish but came up short against South Africa’s Michaela Whitebooi in the final.

 

3. Commonwealth Games 2022: In Judo, Vijay Kumar bagged the bronze medal: Vijay Kumar Yadav handed India second medal in Judo of the Commonwealth Games 2022 as he beat Petros Christodoulides of Cyprus in the men’s 60kg tie to clinch bronze. Earlier, India’s Vijay Kumar Yadav defeated Dylon Munro of Scotland to enter the bronze medal match.

 

4. ‘Games Wide Open’ unveiled as Paris Olympics 2024 official slogan: The organizers of the 2024 Paris Olympics unveiled “Games Wide Open” as their official slogan. The 2024 Summer Olympics are scheduled to take place from July 26 to August 11, 2024. The slogan was released alongside a video promising the Olympics and Paralympics would be “faster”, “higher” and “stronger” — as well as “more inclusive, more brotherly, more beautiful.” Athletes will compete in a total of 329 events in 32 sports. As Paris 2024 aims to be the most gender-balanced Olympic Games in history, the organizers have placed women’s competitions in the spotlight.

Note: International Olympic CommitteeHeadquarters: Lausanne, Switzerland; International Olympic Committee President: Thomas Bach; International Olympic Committee Founded: 23 June 1894, Paris, France.

 

5. IOC Commission Athletes’ adds four new members: The four new members were appointed by International Olympic Committee President, Thomas Bach. The appointments were made in consultation with Emma Terho, Chair of the IOC Athletes’ Commission. While the focus of the four newest members will soon shift to the elected positions as the Paris 2024 Summer Olympic Games approach. Four Olympians have joined the IOC Athletes’ Commission to help represent the athlete voice within the Olympic Movement:

a)      Allyson Felix (USA): Sprinter

b)      Alistair Brownlee (UK): triathlon

c)       Oluseyi Smith (Canada): Sprinter

d)      Masomah Ali Zada (first refugee athlete on any IOC commission): Cyclist

According to the IOC Athletes’ Commission Regulations: The IOC President may appoint up to 11 members to the commission to help ensure a balance between sports, genders, and regions. They can each serve a term of up to eight years. With these additions, the IOC AC will consist of 14 women and nine men. One of the appointees, in particular, will play a vital role in representing the interests of refugee athletes.

 

BANKING AND FINANCE

 

1. RBI’s Financial Inclusion Index(FI-Index) Inches Up: The Reserve Bank of India’s composite financial inclusion index (FI-Index) capturing the extent of financial inclusion across the country rose to 56.4 in March 2022, showing growth across parameters. RBI now publishes the index annually in July every year.  The index stood at 53.9 in March last year. It was at 43.4 for the period ending March 2017, showing rapid improvement in reach of financial services over the past five years.

The Index Calculatation: The index captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion. It comprises three broad parameters — access with 35% weightage, usage with 45% weightage and quality with 20% weightage. It incorporates details of banking, investments, insurance, postal as well as the pension sector.

What Is Financial Inclusion: Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way. Being able to have access to a transaction account is a first step toward broader financial inclusion since a transaction account allows people to store money, and send and receive payments. A transaction account serves as a gateway to other financial services.

 

BUSINESS AND ECONOMY

 

1. GST collection for July 2022 second highest ever at Rs 1.49 lakh crore: Goods Services Tax collection has risen 28 per cent to touch the second-highest level of Rs 1.49 lakh crore in July on the back of economic recovery and steps taken to curb tax evasion. Goods and Services Tax (GST) collection stood at Rs 1,16,393 crore in the same month a year ago. GST, introduced in July 2017, touched a record high of Rs 1.68 lakh crore in April 2022.

About the Goods Services Tax:

a)      This is the sixth time that the monthly GST collection crossed the Rs 1.40-lakh-crore mark since the inception of GST and the fifth month at a stretch since March 2022.

b)      In July, revenues from import of goods were 48 per cent higher and the revenues from domestic transactions (including import of services) were 22 per cent higher than the revenues from these sources during the same month last year.

c)       Of the Rs 1,48,995 crore GST collected in July, Central GST is Rs 25,751 crore, State GST is Rs 32,807 crore, Integrated GST is Rs 79,518 crore (including Rs 41,420 crore collected on import of goods) and cess is Rs 10,920 crore (including Rs 995 crore collected on import of goods).

 

AWARDS AND HONOURS

 

1. Tamil Nadu Police received President’s colour from Venkaiah Naidu: In an usual event at Rajarathinam Stadium in Chennai, Chief Minister M.K. Stalin received the renowned “President’s Colours” for the Tamil Nadu Police from Vice-President of India M. Venkaiah Naidu. One of the very few law enforcement agencies in the nation to be awarded the coveted “President’s Colours” is the Tamil Nadu Police. To commemorate the achievement, Mr. Stalin declared that each police officer in the service would get a medal.

Speaking at the event, Mr. Naidu claimed that the Tamil Nadu Police was among the best in the nation and was renowned for providing exemplary service. He acknowledged that Tamil Nadu was home to the nation’s first women’s commando unit, but said that “a lot remains to be done to give them equal opportunities” and encouraged police officers to be “particularly sensitive” to crimes against women. The State Disaster Response Force, Commandos, Coastal Security Group, and the Nilgiris police contingents reviewed the Guard of Honour after the chief guest had taken the formal salute. At the ceremony, the Tamil Nadu Police Pipe Band also put on a magnificent performance. The parade’s commander was IPS officer A. Pradeep.

 

2. Canadian Jeffrey Armstrong received ‘Distinguished Indologist for 2021’ award: Canadian scholar, Jeffrey Armstrong has been awarded the Indian Council for Cultural Relations (ICCR) Distinguished Indologist for 2021. He has presented the award in a ceremony by Manish, India’s consul-general in Vancouver. The citation for the award states that it has been conferred upon Armstrong “in recognition of his outstanding contribution to the study/teaching/research in India’s philosophy, thought, history, art, culture, Indian languages, literature, civilisation, society, etc”. He becomes the seventh recipient of this award and joins the earlier recipients from Germany, China, Japan, the UK, South Korea and the USA.

About the ICCR Distinguished Indologist for 2021:

a)      The annual award was instituted in 2015 during the First World Indology Conference hosted by the then President of India bringing prominent Indologists from the world over to a single platform with Indian scholars to deliberate upon the scope of promoting Indian studies abroad.

b)      The award is conferred upon a foreign scholar for “their outstanding contribution in the study, teaching and research in any of the fields of Indian Studies”.

c)       The first recipient of the award in 2015 was Professor Heinrich Freiherr Von Stietencron from Germany.

d)      The award comprises a citation, a gold-plated medallion, and US$ 20,000 (approximately ₹1.6 million).