Daily GK Update- 12th Aug, 2022

NATIONAL UPDATES:

 

1. UP Govt appoints Deloitte India as consultant to achieve the target of $1 trn economy: The Uttar Pradesh government led by Chief Minister Yogi Adityanath, has appointed Deloitte India as a consultant for achieving the target of bringing the state’s economy to USD1 trillion mark. For this, a memorandum of understanding (MoU) was signed between the state government and the consultancy agency on August 05, 2022. As per the MoU, Deloitte India should present a future action plan within the next 90 days, with a thorough deliberation after conducting a sector-wise study.

 

2. Nitish Kumar Takes Oath as Bihar CM for 8th Time in 22 Years: JD(U) leader Nitish Kumar took oath as the Chief Minister of Bihar on August 10, 2022. This is for the 8th time that Kumar took oath as Bihar CM since he was first sworn-in as the CM of the state in 2000. Apart from him, Rashtriya Janata Dal (RJD) leader Tejashwi Yadav took oath as the Deputy Chief Minister of the state.   This move comes a day after Nitish Kumar resigned from the post of the CM of the NDA alliance government and broke ties from BJP. Later he staked claim to form a new government with the RJD, the Congress and other parties.

 

3. Microsoft, Govt intend to train computer skills to civil servants: Microsoft and the Indian government will work together on a programme to teach its digital toolkit to almost 2.5 million civil servants. The Ministry of Skill Development & Entrepreneurship (MSDE), the Capacity Building Commission (CBC), and the tech giant are working together to support civil servants in their efforts to assist the less fortunate with the help of Microsoft.

Microsoft, Government programme: Highlights:

a)      Microsoft will assist civil servants in providing last-mile social welfare services.

b)      For the ministries of Defense, Skill Development and Entrepreneurship, Expenditure, Finance, Social Justice, Civil Aviation, Ports and Shipping, and Labour, the CBC performs capacity building with Microsoft.

c)       The absence of digital productivity application abilities required while dealing with Microsoft Office programmes like Microsoft Word, Microsoft Excel, and Microsoft PowerPoint presentations represented a significant competency gap among civil servants.

d)      The company will provide an online learning course on Microsoft Office 365’s digital productivity suite options for MSDE as part of the collaboration.

e)      With the help of this programme, the aim is to strengthen the concept of Digital India and equip central government employees with essential digital skills.

Note: Microsoft Founders: Bill Gates and Paul Allen; Microsoft CEO: Satya Nadella; Group leader & director of government affairs at Microsoft India: Ashutosh Chadha

 

4. Rishabh Pant appointed as the State Brand Ambassador of Uttarakhand: Uttarakhand government has appointed wicketkeeper-batter Rishabh Pant as the ‘State Brand Ambassador’. Chief Minister of Uttarakhand Pushkar Singh Dhami congratulated Rishabh Pant and praised him as one of the best cricketers and idols of youth. Rishabh Pant’s most recent game was seen in India’s T20 series against New Zealand in which the Indian cricket team claimed the title of the series with a 3-0 victory.

 

5. “UMEED Market Place” launched by Manoj Sinha as part of AVSAR Program: UMEED Market Place as part of the AVSAR Scheme of the Airport Authority of India launched by Lieutenant Governor Manoj Sinha at the Srinagar International Airport in Jammu and Kashmir. The Jammu Airport now has a marketplace that is comparable, and both locations will feature goods from all 20 districts, which is UMEED Market Place. The Lt. Governor previously unveiled a 20X20-foot LED video wall at the airport in Srinagar. Umeed Market Place: Highlights:

a)      Governor Manoj Sinha stated that UMEED Market Place project will empower local artists and craftspeople of J&K Rural Livelihood Mission Self Help Groups by giving them a platform to sell their goods directly to consumers.

b)      That the goods produced by self-help groups would be exposed to the national market, help the local artisan community, and offer enough opportunities for product marketing in the UMEED Market Place.

c)       The SHG members’ items will be promoted to a wider audience through the marketplaces at both airports, reaching a bigger population and making rural handicraft products accessible to travellers at affordable costs.

 

6. SPARK: New Virtual Space Museum Launched by ISRO: The Indian Space Research Organization (ISRO) has launched a digital platform called the ‘SPARK’ space museum for showcasing several ISRO missions with an interactive interface. The digital platform known as the ‘SPARK’ space museum was launched by the Chairman of ISRO, S Somnath. This idea by ISRO is a new initiative while celebrating the Azadi ka Amrit Mahotsav marking 75 years of Independence. Key Points:

a)      This digital space museum ‘SPARK’ has an interactive interface through which users can interact with the site easily.

b)      The platform hosts several documents, images, and videos related to ISRO’s launch of vehicles, satellites, and scientific missions.

c)       The secretary of the Department of Spaces S Somnath and major Directors of various ISRO centers appreciate this initiative.

d)      People can also access a beta version of this application through the official website of ISRO.

 

INTERNATIONAL UPDATES:

 

1. Singapore gives National Monument Status to Padang, where Netaji’s famous Call ‘Chalo Dilli’ was immortalised: Singapore government has declared the iconic green site Padang, as its 75th national monument on the day which marked the 57th National Day of Singapore. Padang is the large open field site in Singapore, from where Netaji Subhas Chandra Bose gave the slogan of ‘Delhi Chalo’ in July 1943. Padang has a strong national, historical and social significance, and is one of the oldest open spaces continuously used since the 1800s. With the Monument Status, Padang will now be preserved and accorded the highest level of protection in Singapore under the Preservation of Monuments Act, said the National Heritage Board (NHB).

 

2. World Elephant Day: 12th August: World Elephant Day is celebrated on 12 August every year to raise awareness about the plight of elephants all over the world. The day tries to highlight why these animals should be protected and what laws and measures can be enacted to ensure their survival. The main objective of World Elephant Day is to create awareness on elephant conservation and to share knowledge and positive solutions for the better protection and management of wild and captive elephants.

World Elephant Day History: On 12 August 2012, World Elephant Day was co-founded by Canadian filmmaker Patricia Sims and the Elephant Reintroduction Foundation of Thailand, an initiative of HM Queen Sirikit. This day was observed for the first time on 12 August 2012. And since then, World Elephant Day has been celebrated every year.

 

3. International Youth Day: 12th August: International Youth Day is celebrated on 12 August every year. This day is celebrated to raise awareness regarding issues that are faced by the world’s youth. The objective of International Youth Day 2022 is to amplify the message that action is needed across all generations to achieve the Sustainable Development Goals (SDGs) and leave no one behind. The theme for 2022’s edition of International Youth Day is “Intergenerational solidarity: creating a world for all ages.” Cooperation and harmony between the youth and older generations is necessary to achieve sustainable development goals, as per Agenda 2030 of the United Nations (UN).

International Youth Day History: Young people, who attended the first session of the UN’s World Youth Forum in Vienna, Austria, in 1991, suggested that an International Youth Day be declared to help raise money for the United Nations Youth Fund. At the first session of the World Conference of Ministers Responsible for Youth, held in Lisbon in August 1998, August 12 was declared International Youth Day. The United Nations General Assembly (UNGA) endorsed this proclamation in 1999.

 

OTHER UPDATES:

 

SPORTS

 

1. Sunil Chhetri, Manisha Kalyan named men’s and women’s Footballer of the Year: Sunil Chhetri and Manisha Kalyan have been named the 2021-22 All India Football Federation (AIFF) Men’s Footballer of the Year and the 2021-22 and Women’s Footballer of the Year, respectively. Key Points:

a)      This was Sunil Chhetri’s record seventh AIFF Men’s Footballer of the Year award, having won it previously in 2007, 2011, 2013, 2014, 2017 and 2018–19. No other player has won it more times than the 38-year-old veteran. Sunil Chhetri is currently third after Cristiano Ronaldo and Lionel Messi in the list of highest goal scorers in international football among active players and sixth on the all-time leaderboard.

b)      Manisha Kalyan, who won the 2021-22 AIFF Women’s Footballer of the Year, was the recipient of the Women’s Emerging Footballer of the Year from last season.

AIFF Player of the Year Award winners for 2021-22:

AIFF Men’s Footballer of the Year 2021-22: Sunil Chhetri

AIFF Women’s Footballer of the Year 2021-22: Manisha Kalyan

AIFF Men’s Emerging Footballer of the Year 2021-22: Vikram Partap Singh

AIFF Women’s Emerging Footballer of the Year 2021-22: Martina Thokchom

Note: The All India Football Federation Founded: 23 June 1937; The All India Football Federation Headquarters: Dwarka, Delhi; The All India Football Federation FIFA affiliation: 1948; The All India Football Federation AFC affiliation: 1954; The All India Football Federation SAFF affiliation: 1997.

 

2. Real Madrid beat Eintracht Frankfurt 2-0 to win 2022 UEFA Super Cup: Real Madrid beat Eintracht Frankfurt, 2-0 in the finals to win the 2022 UEFA Super Cup for a record-equalling fifth time, in Helsinki, Finland. UEFA Super Cup is an annual football match organised by UEFA for the winners of the two main European club competitions, i.e. the UEFA Champions League and UEFA Europa League. The last season’s Champions League winners Real Madrid defeated Europa League winners Eintracht Frankfurt to win the title for fifth time. David Alaba and Karim Benzema scored in each half as Real Madrid beat Eintracht Frankfurt. The man of the match goes to Casemiro.

 

BANKING AND FINANCE

 

1. SEBI constitutes 15-member Advisory Committee to attract foreign investment: The Securities and Exchange Board of India (SEBI) has constituted a 15-member expert group of Foreign Portfolio Investors (FPIs) to boost overseas flows into the country. The FPI Advisory Committee (FAC) will be chaired by former Chief Economic Adviser KV Subramanian. Other members of the committee will be from foreign banks, stock exchanges depositories and the RBI. Task of the FAC:

a)      Advising on issues related to investments and operations of FPIs in the financial markets, including measures to facilitate ease of doing business by FPIs in India.

b)      Review investment avenues available for FPIs and advise on the feasibility of new investment avenues.

c)       Suggest measures required to encourage FPI participation in the bond market.

 

2. RBI cancelled the license of Rupee Co-operative Bank, Pune: The Reserve Bank of India has cancelled the licence of Pune-based Rupee Co-operative Bank Ltd as the lender does not have adequate capital and earning prospects. However, the RBI said that in compliance to an order of the High Court of Bombay, its direction will become effective after six weeks. Consequent to the cancellation of its licence, ‘Rupee Co-operative Bank Ltd, Pune’ stands prohibited from conducting the business of banking which includes, among other things, acceptance of deposits and repayment of deposits with effect from September 22, 2022.

The licence has been cancelled because the bank does not have adequate capital and earning prospects and as such, it does not comply with certain provisions of the Banking Regulation Act, 1949. As per the data submitted by the cooperative bank, more than 99 per cent of the depositors are entitled to receive full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC). On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to Rs 5 lakh from DICGC. As of May 18, 2022, DICGC has already paid Rs 700.44 crore of the total insured deposits.

 

BUSINESS AND ECONOMY

 

1. India’s GDP Growth to be fastest in Asia in FY23: Morgan Stanley: According to analysts at Morgan Stanley, India’s GDP growth will average 7% during this time, which is the strongest among the largest economies, and India will contribute 28% and 22% to both Asian and global growth, respectively. This makes India the fastest-growing Asian economy in the Asian region in 2022–2023. They claimed that due to the release of dormant demand, the Indian economy is poised for its strongest performance in more than a decade. India’s GDP growth: Key Points:

a)      According to Chetan Ahya, chief Asia economist at Morgan Stanley, the most significant change in India’s structural narrative is the obvious shift in policy emphasis in favour of increasing the economy’s productive potential and India’s GDP growth.

b)      He claimed that policymakers have adopted a number of changes that will spur an uptick in the private capex cycle, aid to unleash a potent productivity dynamic, and usher in the start of a virtuous cycle.

c)       This confidence in India’s GDP growth has been greatly aided by a decline in commodity prices, particularly those of crude oil.

d)      With oil and commodities prices down between 23 and 37% since their peak in March 2022, Morgan Stanley predicts that macro stability indicators will return to a comfortable level and that the Reserve Bank of India (RBI) may not need to raise rates substantially in the near future.

 

2. Amit Burman Steps Down as the Chairman of Dabur: FMCG major Dabur has announced that the board has accepted the resignation of Amit Burman as the Chairman. Amit Burman will continue to serve in the position of non-executive director of the company. Key Points

a)      Amit Burman was announced as the CEO of Dabur in 1999 when the company forayed into the processed food business. In July 2007, he stepped down from his position when the company was merged into Dabur India Ltd and was appointed as the vice chairman. In 2019, Amit took the charge as the chairman of Dabur Indian Ltd.

b)      The new non-executive vice chairman of the board of directors is Saket Burman from 11th August 2022, for the next five years. The board also announced that Mohit Burman will be the non-executive chairman of the board for the next five years, who is currently serving as the non-executive vice chairman.

 

AWARDS AND HONOURS

 

1. Senior Congress leader Shashi Tharoor to receive France’s highest civilian award: Senior Congress leader Shashi Tharoor, set to be conferred with France’s highest civilian award Chevalier de la Legion d’Honneur. The French government is honouring him for his writings and speeches and the French Ambassador here Emmanuel Lenain has written to Tharoor informing him about the award. In 2010, Tharoor had received a similar honour from the Spanish government, when the King of Spain had bestowed upon him the Encomienda de la Real Order Espanola de Carlos III.

 

OBITUARIES

 

1. AIADMK’s first MP Maya Thevar passes away: Former Member of Parliament (MP) and senior All India Anna Dravida Munnetra Kazhagam (AIADMK) politician K. Maya Thevar has passed away due to an age-related illness. He was 87. The was the first MP of the AIADMK. He led the party to enter the world of politics by registering the party’s first victory by contesting a by-election to the Dindigul Lok Sabha constituency in 1973. Also, it was Mr. Maya Thevar who chose the iconic ‘two-leaves’ symbol of the AIADMK party. Later, he left AIADMK and joined the DMK.

Daily GK Update- 11th Aug, 2022

NATIONAL UPDATES:

 

1. Kerala Government to Launch Mobile App to Curb GST Evasion: The Kerala government is set to launch a mobile app where people can upload original bills and also stand a chance to win prizes. The government of Kerala aims to curb GST evasion with this app. The app is named ‘Lucky Bill App’ and it will be launched on 16th August 2022, by Chief Minister Pinarayi Vijayan.

Key Points:

a)      The state government expects this will help increase tax collection as people will be encouraged to ask for bills while purchasing goods and availing services.

b)      The government is looking for new ways to support the revenue and financial status of the state with this app.

c)       The app is capable enough to help the state’s GST department to examine return filings with the help of uploaded bills.

d)      This initiative of the state government was proposed when the compensation from the center concerning the Goods and Services Tax has ceased.

e)      Finance Minister K N Balagopal has allocated a budget of ₹5 crores for the introduction of the ‘Lucky Bill App’.

 

2. ‘Radio Jaighosh’ launched by CM Yogi on Kakori Train Action anniversary: As part of the celebrations for Azadi Ka Amrit Mahotsav, Uttar Pradesh Chief Minister Yogi Adityanath debuted “Radio Jaighosh” to commemorate the anniversary of the Kakori Train Action. To promote performing arts, regional specialties from Uttar Pradesh, folk art, and gallantry award recipients, the state’s Department of Culture is developing a community radio station and also the “Radio Jaighosh” is a part of it. From the recently restored studio of the Sangeet Natak Akademi in Lucknow, “Radio Jaighosh” will be audible at 107.8 MHz and will air programmes from 6 am to 10 pm every day. The Radio Jaighosh’s mobile application and social media pages will also have access to the programmes. Radio Jaighosh:

a)      The daily radio programmes “Parakram” and “Shaurya Nagar” will feature folktales from all 75 of the state’s districts and feature valiant troops from both the pre- and post-Independence eras as well as unsung heroes on the “Radio Jaighosh”.

b)      Kala Yatra will focus on performing arts, Rajya ki Rasoi on Uttar Pradesh’s delicacies, Rang Shala on theatre performers, Rajya ki Raftaar on government initiatives, and Rang Yatra on visual arts on the “Radio Jaighosh”.

c)       Additionally, there will be regular shows on education on the “Radio Jaighosh”.

 

3. New Delhi hosted the ITU’s Regional Standardization Forum: New Delhi hosted ITU’s Regional Standardization Forum where Devusinh Chauhan, Minister of State for communications delivered a speech at the opening ceremony of the International Telecommunication Union’s Regional Standardization Forum for Asia and Oceania. According to Devusinh Chauhan, the nation’s telecommunications network is the second largest in the world and offers the best prices. Highlights of the Regional Standardization Forum:

a)      According to RSF, the market-friendly policies of the Union Government were responsible for the nation’s telecommunications network growth.

b)      Chauhan emphasised that the three pillars of Ease of Doing Business, Ease of Living, and Aatmanirbhar Bharat constitute the foundation of India’s telecommunications policy, which was developed under Prime Minister Narendra Modi’s direction.

c)       The Minister claimed that the industry’s vote of confidence in the government’s initiatives was reflected in the outcome of the 5G spectrum auction.

d)      In order to solve the digital divide, Prime Minister Narendra Modi has established a clear roadmap.

e)      The country’s six lakh villages will all receive optical fibres as well as 4G mobile coverage as part of this project.

 

4. Union Minister Dr Jitendra Singh releases book ‘Rusty Skies & Golden Winds’: Union Minister of State (IC) of the Ministry of Science and Technology, Dr. Jitendra Singh, launched a poetry book titled ‘Rusty Skies and Golden Winds’ written by 11 years old Sannidhya Sharma, student of class 7th, here at Jammu. The book is published by Blue-Rose Publishers. The Union Minister lauded the efforts of the little author in crystallising his thoughts in the shape of a collection of his poems and his rare achievement at this tender age and wished him a bright future.

The essence of the book: The 100 book page is an anthology of 40 poems in which the budding author defines the nature of the world, at the moment. He lets himself be carried away by the unknown force and eyes the blood on the paper bravely. Throughout the book, the author wishes for a gust of golden winds, and sends his soul on an adventure to discover all those shallow thoughts buried in the soils of time as he lifelessly stares into the rusty skies of dust.

 

5. Zoological Survey of India (ZSI) Published a Book on 1000+ Bird Species: The Zoological Survey of India (ZSI) covered about 1,331 different bird species that can be found in India in a field guide that was written by ZSI. According to ZSI Director Dhriti Banerjee, unlike prior books that mostly used drawings, it emphasizes high-quality images of birds. The identification of each species is essential for accurate documentation.

 

INTERNATIONAL UPDATES:

 

1. Russia successfully launched Iran’s satellite into orbit: Russian rocket has successfully launched an Iranian satellite into orbit from southern Kazakhstan. An Iranian satellite named Khayyam into orbit by the Soyuz rocket from the Russia-leased Baikonur launch facility in Kazakhstan. The name of the satellite was named after Omar Khayyam, a Persian scientist who lived in the 11th and 12th centuries. The satellite fitted with the high-resolution camera will be used for environmental monitoring and will remain fully under its control.

“Khayyam” Iranian satellite:

a)      Iran says the satellite is designed for scientific research including radiation and environmental monitoring for agricultural purposes. Iran’s space agency has received the first telemetry data sent from the satellite.

b)      Iran has said the satellite fitted with the high-resolution camera will be used for environmental monitoring and will remain fully under its control.

c)       If it operates successfully, the satellite would give Iran the ability to monitor its archenemy Israel and other countries in the Middle East.

Note: Russia Capital: Moscow; Russia Currency: Rubel; Russia President: Vladimir Putin.

 

OTHER UPDATES:

 

SPORTS

 

1. Prabath Jayasuriya and Emma Lamb bags ICC Player of the Month for July 2022: The International Cricket Council (ICC) has announced Sri Lankan spin sensation Prabath Jayasuriya and England batting all-rounder Emma Lamb as the winners of its Player of the Month awards for July 2022.

Prabath Jayasuriya: Prabath Jayasuriya claims the ICC Men’s Player of the Month award on the back of an outstanding series of displays with the ball, where his remarkable haul of wickets sees him crowned ahead of rival contenders England’s Jonny Bairstow. Jayasuriya beat England star batsman Jonny Bairstow and France’s Gustav McKeon for the coveted monthly award.

Emma Lamb: Emma Lamb was voted the ICC Women’s Player of the Month for July following her thrilling start to life opening the batting in England’s victorious ODI series victory over South Africa. Lamb consistently laid the foundations for her side to claim victory in each of the three matches, with her most notable contribution coming in the first match in Northampton. Lamb secures the ICC Women’s Player of the Month award at the first time of asking, overcoming fellow nominees; England’s Nat Sciver and India’s Renuka Singh.

 

2. Tennis legend Serena Williams Announces Her Retirement from Tennis: Tennis legend from the United States, Serena Williams has announced her retirement. Williams focused on her family in the announcement, writing that her nearly five-year-old daughter wants to be an older sister. Williams is married to Reddit founder Alexis Ohanian. The career of Serena Williams:

a)      Williams, who turns 41 next month, has 73 career singles titles, 23 career doubles titles and over $94 million in career winnings.

b)      Her first major singles title came at the U.S. Open in 1999 at age 17. The next year, she won the first of three Olympic doubles titles with older sister Venus. She also won singles gold at the 2012 London Games.

c)       She has counted sponsorships from companies including Nike, Audemars Piguet, Away, Beats, Bumble, Gatorade, Gucci, Lincoln, Michelob, Nintendo, Wilson Sporting Goods, and Procter and Gamble.

 

3. Chess Olympiad 2026 to be hosted by Uzbekistan: According to a tweet from the International Chess Federation (FIDE), Uzbekistan will host the 2026 Chess Olympiad. In Chennai’s ongoing Chess Olympiad, their young team is now in the lead. Teams from around the world compete in the Chess Olympiad, a biennial chess competition. The event is organised by FIDE, which also chooses the host nation. In the midst of the COVID-19 pandemic, FIDE hosted an online chess tournament in 2020 and 2021 with a quick time limit that harmed competitors’ online ratings. About Chess Olympiad 2026:

a)      Each chess association recognized by FIDE is permitted to enter a team into the Olympiad.

b)      Up to five players can make up a team: four active players and one reserve. Each team used to play every other team at first, but as the event developed over time, this became impossible.

c)       Prior to the competition, teams were first seeded. Later, once several flaws in seeding were discovered, a Swiss tournament system was implemented in 1976.

d)      The Hamilton-Russell Cup, presented by English tycoon Frederick Hamilton-Russell as a prize for the first Olympiad, is the trophy for the winning team in the open division (London 1927).

e)      The victorious team keeps the cup until the following competition, after which it is given to the subsequent victor.

 

BANKING AND FINANCE

 

1. SBI Formalises Policy To Finance Makers Of Lab-grown Diamonds: State of Bank of India (SBI) is the first Indian lender to frame a policy to fund makers of lab-grown diamonds which come across as replicas of the natural stones, but are often looked at with suspicion by high-street banks and scoffed at by many traditional diamantaires.

Why Is This A Important Move: Reflecting the slow shift in the diamond trade, the decision by the country’s largest bank comes amid some of the jewellers putting up factories in Surat to produce synthetic diamonds and many diamond houses considering relocating from the financial capital Mumbai to the southern Gujarat town, which for decades has been the hub of diamond cutters and polishers.

 

2. RBI authorises HR subsidiary of SBI to manage cost effectively: The Reserve Bank of India preliminary approved the operations and support subsidiary of State Bank of India (SBI). The subsidiary will likely be staffed by a group of employees who will be hired by the arm on a contract basis and will initially focus on managing branches in rural and semi-urban areas. Recruits made by State Bank Operations Support Services may not be qualified for the benefits, according to sources. Key Points:

a)      Sanjeev Naryani will probably be in charge of the HR division. Before joining the Kolkata-based private sector lender Bandhan Bank in 2019, Naryani worked for SBI for 32 years.

b)      For the Indian banking sector, SBI’s HR subsidiary would be the first of its sort; other banks might follow.

c)       In the past, numerous lenders sought approval from the regulator for actions of this nature by a subsidiary but were denied.

d)      Now that the RBI has approved SBI’s proposal, several lenders may decide to move through with the project.

e)      The RBI has given SBI permission to establish an Operation Support Subsidiary to assist RUSU (rural and semi-urban) branches in outreach for agro and MSME lending activities, among other things.

 

BUSINESS AND ECONOMY

 

1. In India, 7.3% Of the Population Owned Digital Currency in 2021: Over seven percent of India’s population owns digital currency, according to the UN, which said the use of cryptocurrency rose globally at an unprecedented rate during the Covid-19 pandemic.

The UN trade and development body, UNCTAD said in 2021, developing countries accounted for 15 of the top 20 economies when it comes to the share of the population that owns cryptocurrencies. Ukraine topped the list with 12.7 per cent, followed by Russia (11.9 per cent), Venezuela (10.3 per cent), Singapore (9.4 per cent), Kenya (8.5 per cent), and the US (8.3 per cent). In India, 7.3 per cent of the population owned digital currency in 2021, ranking seventh in the list of top 20 global economies for digital currency ownership as share of population.

Issues Related With This: In three policy briefs published, it said that while these private digital currencies have rewarded some and facilitate remittances, they are an unstable financial asset that can bring social risks and costs. The policy brief titled “All that glitters is not gold: The high cost of leaving cryptocurrencies unregulated” examines the reasons for the rapid uptake of cryptocurrencies in developing countries, including facilitation of remittances and as a hedge against currency and inflation risks. It said that recent digital currency shocks in the market suggest that there are private risks to holding crypto, but if the central bank steps in to protect financial stability, then the problem becomes a public one.

 

DEFENCE

 

1. Indian Army & DFI launched ‘Him Drone-a-thon’ programme: The Indian Army has launched the Him Drone-a-thon programme in collaboration with the Drone Federation of India. The initiative is in line with self-reliance in defence manufacturing. It is aimed at providing opportunities to the Indian drone ecosystem to develop path-breaking drone capabilities for meeting the requirements of frontline troops. In the 1st phase, drones will be developed for use in Army operations in the Himalayas.

Memorandum of understanding between DFI and Army Design Bureau: The Drone Federation of India (DFI) and the Army Design Bureau (ADB) signed a memorandum of understanding to accelerate drone technology development and indigenisation in the drone ecosystem in the country at a time when the world is witnessing a swift transition from traditional warfare to a technology-driven one.

 

2. Indo-US Joint Special Forces Exercise ‘Vajra Prahar 2022 begins in Himachal Pradesh: The India-US Joint Special Forces exercise “Ex Vajra Prahar 2022”, began on August 08, 2022, at the Special Forces Training School in Bakloh, Himachal Pradesh. Ex Vajra Prahar 2022 is the 13th edition of the annual exercise. The main objective of this joint exercise is to share the best practices and experiences in areas such as joint mission planning and operational tactics. The Indian Army contingent is represented by drawing Special Forces personnel under the aegis of SFTS, while the US contingent is represented by personnel from the 1st Special Forces Group (SFG) and Special Tactics Squadron (STS) of the US Special Forces.

About the Ex Vajra Prahar 2022:

a)      This joint annual exercise is hosted alternatively between India and the US to share the best practices and experiences in areas such as joint mission planning and operational tactics.

b)      According to the Defence Ministry, during the course of the next 21 days, teams of both armies would jointly train, plan and execute a series of special operations, counter-terrorist operations, and airborne operations in simulated conventional and unconventional scenarios in mountainous terrain.

c)       This joint exercise is a significant step in strengthening the traditional bond of friendship between the special forces of both nations as well as improving bilateral defence cooperation between India and the US.

Daily GK Update- 10th Aug, 2022

NATIONAL UPDATES:

 

1. PM Modi to dedicate 2G ethanol plant in Panipat to nation: Prime Minister Narendra Modi will dedicate to the nation via video conferencing a second generation (2G) ethanol plant built at an estimated cost of Rs 900 crore in Haryana’s Panipat. The dedication of the plant is part of a long series of steps taken by the government over the years to boost the production and usage of biofuels in the country. This is in line with the prime minister’s constant endeavour to transform the energy sector to make it more affordable, accessible, efficient and sustainable.

About the project:

a)      The project will provide direct employment to people involved in the plant operation and indirect employment will be generated in the supply chain for rice straw cutting, handling, storage, etc.

b)      Through the reduction in the burning of rice straw, the project will contribute to a reduction of greenhouse gases equivalent to about 3 lakh tonnes of carbon dioxide equivalent emissions per annum, which can be understood as equivalent to replacing nearly 63,000 cars annually on the country’s roads.

 

2. Maharashtra Governor inaugurates the 22nd ‘Bharat Rang Mahotsav’: Maharashtra Governor Bhagat Singh Koshyari inaugurated the 22nd ‘Bharat Rang Mahotsav’ at Rabindra Natya Mandir in Mumbai. The five-day drama festival (being held from August 9 to August 13, 2022) is being jointly organised by the Union Ministry of Culture and P.L. Deshpande Maharashtra Kala Akademi in the city to pay tribute to our freedom fighters.

National School of Drama under Azadi Ka Amrit Mahotsav is organizing “Azadi Ka Amrit Mahotsav – 22nd Bharat Rang Mahotsav, 2022 (Azadi Segment)” to pay tributes to our freedom fighters. As part of the 22nd Bharat Rang Mahotsav, 2022 (Azadi Segment), 30 plays will be showcased in Delhi, Bhubaneshwar, Varanasi, Amritsar, Bengaluru and Mumbai from 16th July to 14th August, 2022.

 

3. Goa CM Pramod Sawant announced to implement 100% NEP in higher education: Goa Chief Minister, Pramod Sawant has announced that the state government will implement 100% of the syllabus in higher education institutes along the lines of the National Education Policy (NEP). The implementation of NEP from the college to university level has already started. From the next academic year, a hundred per cent of the syllabus in the higher education institutes would be online with the NEP.

Sawant also talked about the skills of manpower. He confirmed that Goa has signed a memorandum of understanding (MoU) with around 35 industry associations in the state who will work on the skill development. The Chief Minister also mentioned the need for two lakh manpower in the hospitality industry over the next five years. The manpower will be trained by the government.

Note: Goa Governor: P.S. Sreedharan Pillai; Goa Chief Minister: Pramod Sawant.

 

4. Nitish Kumar resigned as NDA chief minister in Bihar: Nitish Kumar has submitted his resignation as the NDA chief minister in Bihar to the state governor Phagu Chauhan. He also submitted a support letter of 160 MLAs to stake claims to form a new government. In the 243-member assembly, the BJP has 77 lawmakers and JD (U) 45. The RJD is currently the single-largest party with 79 MLAs, Congress 19 and the CPI (ML)-led Left Front 17. The tensions between the JD(U) and BJP, which kept simmering as the latter’s state-level leaders were accused of taking potshots at the CM, reached a breaking point after JD(U) leader RCP Singh was accused by a section of the party of conspiring to create a split.

Note: Bihar Capital: Patna; Bihar Governor: Phagu Chauhan.

 

5. Google launches ‘India Ki Udaan’ to mark 75 years of Independence: Tech giant, Google has launched ‘India Ki Udaan’ to mark 75 years of Independence. The project has executed by Google Arts & Culture celebrates the country’s achievements and is “themed on the unwavering and undying spirit of India over these past 75 years”. As part of the country-wide celebrations, Google also announced its collaboration with the Ministry of Culture. It was officially launched at a glittering event held at the Sunder Nursery in Delhi in the presence of Union Culture and Tourism Minister G Kishan Reddy and senior officials of the culture ministry and Google.

Significance: India Ki Udaan: As part of the countrywide celebrations to commemorate 75 years of independence, Google also announced its collaboration with the Ministry of Culture focused “on reaching informative online content that showcases the contributions of Indians and the evolution of India since 1947 to support the government’s year-long ‘Azadi Ka Amrit Mahotsav’ programme”. The centrepiece of its celebrations is a new online collection titled “India Ki Udaan”, available on the Google Arts and Culture website. It pays tributes to India’s rich cultural history and includes iconic moments from the last 75 years.

About the ‘India Ki Udaan’:

a)      This initiative offers a unique view of India’s remarkable moments and lets people discover some of the most memorable moments in India’s modern history, its iconic personalities, its proudest scientific and sporting achievements, and how women in India continue to inspire the world.

b)      This commemorative collection will be expanded with a unique blend of archives and artistry for people in India and across the globe. In its 10th year in India, Google Arts and Culture has showcased the country’s rich culture in many ways. Working with more than 100 partners in India, it has brought the country’s cultural heritage to people all over the world.

Note: Google CEO: Sundar Pichai; Google Founded: 4 September 1998; Google Headquarters: Mountain View, California, United States.

 

INTERNATIONAL UPDATES:

 

1. Marape reinstated as PM of Papua New Guinea by new legislature: Following elections in the South Pacific island nation of Papua New Guinea, the parliament has reinstated Prime Minister James Marape. According to the media and election authorities, Marape was re-sworn in as prime minister after lawmakers in the new parliament elected Marape without opposition. The general election in Papua New Guinea took place between July 4 and July 22, although voting and vote counting were postponed due to unusual conditions, such as security concerns, attacks on ballot boxes, and logistical difficulties, according to the electoral commission.

Marape’s Reinstatement: Key Points

a)      Marape and his predecessor, Peter O’Neill, who resigned in 2019, were the front-runners for the position of leader of the next administration.

b)      When parliament of Papua New Guinea was scheduled to meet, 105 of the 118 seats had been filled. Among the elect were two women.

c)       Marape, the head of the Pangu Party, which won 36 seats, received 97 votes in favour of becoming Prime Minister Papua New Guinea, and he will lead a coalition government made up of more than a dozen independents and minor parties.

d)      Marape, who took office as prime minister for the first time in 2019, declared that the coalition had a collective mandate and urged national unity.

 

2. World Biofuel Day: 10th August: World Biofuel Day is commemorated on 10 August every year to raise awareness about the use of non-fossil fuels as an alternative to conventional fossil fuels. During this day, the government and private organisations come together to spread awareness about the importance of non-fossil fuels as a different source of energy.

World Biofuel Day History: August 10 was chosen as World Biofuel Day since it was on this date in 1893 that German inventor Sir Rudolf Diesel successfully ran his diesel engine on peanut oil. This was a path-breaking discovery as it created a safer, renewable and sustainable alternative to fossil fuels. In India, the Ministry of Petroleum and Natural Gas (MoP&NG) and the Ministry of Environment, Forest and Climate Change (MoEFCC) started celebrating World Biofuel Day, 2015 onwards.

 

3. World Lion Day: 10th August: World Lion Day is observed globally on 10th August. The day aims to spread awareness of lions and the urgent need to strive toward their conservation. The purpose of World Lion Day, as previously indicated, is to increase public awareness of the significance of lion conservation. Lions are designated as a vulnerable species on the Red List of Threatened Species by the International Union for Conservation of Nature (IUCN).

World Lion Day History: In 2013, the first World Lion Day was observed. Dereck and Beverly Joubert, from the Big Cat Initiative and National Geographic, founded it. Their objective was to safeguard lions in their natural environment. Additionally, they aimed to collaborate on safety measures with localities that are close to wild cats.

 

OTHER UPDATES:

 

SPORTS

 

1. Chess prodigy V Pranav becomes India’s 75th Grandmaster: The Chennai-based chess prodigy V Pranav became India’s 75th Grandmaster by winning a tournament in Romania. The Chennai-based Pranav won the Limpedea Open in Baia Mare, Romania to secure his third and final GM norm and attain the Grandmaster title.

 

2. 2022 SAFF U20 Championship: India beat Bangladesh 5-2 to clinch the trophy: India beat Bangladesh 5-2 after extra time to clinch the 2022 SAFF U20 Championship title, at Kalinga Stadium in Bhubaneswar, Odisha. India was the host of the 4th edition of the SAFF U-20 Championship. SAFF U-20 Championship is an international football competition for men’s under-18 national teams organized by the South Asian Football Federation (SAFF). Sibajit Singh Leimapokpam was the captain of the Indian team and Som Kumar was the goalkeeper.

Both teams were locked 1-1 at the interval, and 2-2 after completion of regulation time. Gurkirat scored in the 1st, 60th, 94th and 99th minutes respectively, while Himanshu scored in the 92nd minute. For Bangladesh, Rajon Howladar and Shahin Mia scored in the 44th and 48th minutes. Top awardee of the tournament:

Top scorer – Gurkirat Singh (8 goals)

Best player – Gurkirat Singh

Best goalkeeper – Som Kumar

Note: South Asian Football Federation President: Kazi Salahuddin; South Asian Football Federation Founded: 1997; South Asian Football Federation Headquarters: Dhaka, Bangladesh; South Asian Football Federation Abbreviation: SAFF; South Asian Football Federation General Secretary: Anwarul Huq.

 

3. Indian chess legend Viswanathan Anand becomes FIDE deputy president: Indian chess legend, Viswanathan Anand was elected deputy president of the International Chess Federation or World Chess Federation (FIDE), the sport’s world governing body. While incumbent president Arkady Dvorkovich was re-elected for a second term. Five-time world champion Anand was part of Dvorkovich’s team.

The elections to the world chess body were held during the FIDE Congress which is being conducted here alongside the 44th Chess Olympiad. In the elections held here, Dvorkovich pipped Andrii Baryshpolets, a Ukrainian Grandmaster, by a landslide scoreline of 157-16 votes. A third candidate, French Bachar Kouatly, withdrew his candidature after giving his speech before voting began.

Note: World Chess Federation Headquarters: Lausanne, Switzerland; World Chess Federation Founded: 20 July 1924, Paris, France.

 

4. CWG 2022: Nikhat Zareen and Sharath Kamal India’s flagbearers at the closing ceremony: Indian Olympic Association (IOA) announced table tennis player Achanta Sharath Kamal and Boxer Nikhat Zareen as the Flagbearers of India for the closing ceremony of the Commonwealth Games 2022 at Birmingham. Achanta Sharath Kamal won gold in Commonwealth Games 2022 at Birmingham by defeating Liam Pitchford in the finals and Nikhat Zareen also won gold by defeating Mc Naul in the finals of the boxing light flyweight event under the 50kg category at Commonwealth Games 2022. At the Opening ceremony of the Commonwealth Games 2022, PV Sindhu and Manpreet Singh were the Flagbearers.

 

BANKING AND FINANCE

 

1. Federal Bank: First payment gateway to be listed on the new tax platform: The Kerala-based Federal Bank is listed in the Income Tax Department’s TIN 2.0 platform and now lists the Payment Gateway platform as the first bank. The “Payment Gateway” has been enabled since the TIN 2.0 platform went live on July 1 of this year, giving taxpayers one more payment option. They can now easily make their payments using methods like Credit/Debit Card, UPI, NEFT/RTGS, and Internet Banking. Key Points:

a)      Federal Bank is actively utilising digital as a key facilitator of enhanced experience and transaction convenience.

b)      In order to let taxpayers use the e-pay tax facility in the income tax e-filing portal, Federal Bank cooperated with the Central Board of Direct Taxes (CBDT) in July.

c)       The government also granted the bank permission to collect direct tax for the previous fiscal year; this permission is now in effect as of July 1, 2022.

 

AWARDS AND HONOURS

 

1. Puneeth Rajkumar to be conferred Karnataka Ratna posthumously: Karnataka Chief Minister, Basavaraj Bommai has announced that Kannada film star Puneeth Rajkumar, who died last year, will be conferred with the ‘Karnataka Ratna’ award posthumously on November 1, which happens to be Kannada Rajyotsava, the state’s formation day. He will be the 10th recipient of the state’s highest civilian honour.

Considered the Kannada cinema’s reigning star, Puneeth, the youngest of five children of Kannada matinee idol Dr Rajkumar, died of a cardiac arrest on October 29 at the age of 46. Interestingly, Puneeth’s late father Rajkumar is among the first recipients of the Karnataka Ratna award in 1992, along with poet Kuvempu.

 

2. Prof Ramadhar Singh becomes 1st Indian Social Psychologist on US Heritage Wall of Fame: Ahmedabad University Professor, Ramadhar Singh becomes the first Indian Social Psychologist on the US Heritage Wall of Fame of the Society for Personality and Social Psychology (SPSP) in the United States. He is currently a professor at the Amrut Mody School of Management, Ahmedabad University. Eecognition is given to Prof Ramadhar Singh:

a)      Professor Singh has been a breakthrough researcher in the field of psychology and management. During the 1980s, the predominant American view was that humans were cognitive misers, that is, people resort to short-cuts in thoughts and behaviours.

b)      Through his research, however, Professor Singh showed how cognitively affluent and dynamic humans were. To advance psychology as a science in Asia, Professor Singh played critical roles at the national level in India through the University Grants Commission (UGC) and in Asia through the Asian Association of Social Psychology.

c)       At the international level, he served as a consulting and/or associate editor of several journals and a member of the Mentor Award Committee of the Association for Psychological Science (APS), US.

 

OBITUARIES

 

1. Former cricket umpire Rudi Koertzen passes away after car crash: Rudi Koertzen, the former international cricket umpire, has passed away in a car crash. He was 73. Koertzen, who took up umpiring in the year 1981 and stood in his first international match back in 1992 between India and South Africa at Port Elizabeth, went on to officiate in 331 international matches, a record that stool tall until he retired in the year 2010.

Rudi became just the second umpire in history to officiate more than 150 ODIs after the legendary David Shepherd, and was also the second to stand in 200 Tests after Steve Bucknor. One of the original members of the ICC Elite Panel of Umpires in 2022. The last official match in which Koertzen served as during IPL 2011 between Royal Challengers Bangalore and Chennai Super Kings at the Chinnaswamy.