Daily GK Update- 19th Aug, 2024

 

NATIONAL UPDATES:

 

1. Government Launches ₹1 Lakh Crore Pradhan Mantri Viksit Bharat Rozgar Yojana to Create 3.5 Crore Jobs: The government launched the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) portal, a central sector scheme with an outlay of ₹1 lakh crore, aiming to generate 3.5 crore jobs between August 1, 2025, and July 31, 2027.

The scheme has two parts:

·       Part A: One-time incentive for first-time employees, equivalent to up to one month’s wage (max ₹15,000) in two instalments.

·       Part B: Incentives for employers hiring new/additional employees, with a special focus on the manufacturing sector.

Under Part A, employees with gross wages up to ₹1 lakh are eligible. Employers get slab-based incentives: ₹1,000 (salary up to ₹10,000), ₹2,000 (₹10,000–₹20,000), and ₹3,000 (₹20,000–₹30,000). Under Part B, establishments get up to ₹3,000 per month per additional employee for 2 years (4 years for manufacturing sector), provided they sustain at least 2 or 5 additional employees (depending on establishment size).

 

2. Prime Minister Modi Inaugurated ₹11,000 Crore Dwarka Expressway and UER-II Projects in Delhi: Prime Minister Narendra Modi inaugurated two major highway projects worth nearly ₹11,000 crore in Delhi at Rohini, followed by a public address.A 10.1-km Delhi section of the Dwarka Expressway, built at ₹5,360 crore, will connect Yashobhoomi, Metro’s Blue & Orange lines, upcoming Bijwasan railway station, and Dwarka cluster bus depot, and directly link with UER-II.The Alipur–Dichaon Kalan stretch of Urban Extension Road-II (UER-II) with spurs to Bahadurgarh and Sonipat, developed at ₹5,580 crore, will ease congestion on Delhi’s Inner/Outer Ring Roads and choke points like Mukarba Chowk and Dhaula Kuan.These projects will help decongest Delhi, improve connectivity, reduce travel time, and boost NCR’s economic activity through world-class infrastructure.

 

3. Srinivasan K Swamy Elected AAAI President for 2025–26, Marks Fourth Term: Srinivasan K Swamy, Executive Group Chairman of R K Swamy Ltd, has been elected President of the Advertising Agencies Association of India (AAAI) for 2025–26, succeeding Prasanth Kumar.AAAI is India’s national organisation for advertising agencies, promoting professionalism and sound business practices among advertisers, agencies, and media.Swamy expressed his honour and humility, noting this is his fourth term as AAAI President, with his previous tenure from 2004 to 2007.

 

4. Shwetha Menon and Kukku Parameswaran Become First Women to Lead Malayalam Actors’ Body AMMA: For the first time, the Association of Malayalam Movie Artistes (AMMA) will be led by women, with Shwetha Menon elected as President and Kukku Parameswaran as General Secretary.The election took place in Kochi, Kerala on August 15, 2025, where they defeated actors Devan and Raveendran; more than 290 out of 504 members voted.Unni Shivapal was elected Treasurer, while Jayan Cherthala and Lakshmipriya became Vice Presidents, marking a new phase in AMMA’s leadership history.

 

INTERNATIONAL UPDATES:

 

1. S&P Global Upgrades India’s Credit Rating to BBB After 18 Years: S&P Global upgraded India’s long-term sovereign credit rating from BBB- to BBB, citing economic resilience and fiscal consolidation, and maintained a stable outlook.S&P emphasized India’s buoyant economic growth, enhanced monetary policy, and government efforts in fiscal consolidation and spending quality as key factors supporting the upgrade.The stable outlook reflects political stability and high infrastructure investment, supporting India’s long-term growth prospects; this is the first upgrade in 18 years since January 2007.

 

2. Kotak Mahindra International becomes first Indian firm to receive SCA license for investment and portfolio management in UAE: Kotak Mahindra (International) has received a license from the Securities and Commodities Authority (SCA) of the UAE to conduct Investment Fund Management and Portfolio Management activities.With this approval, Kotak Mahindra (International) became the first Indian firm to obtain such a license from the SCA, marking a key milestone in cross-border financial services.The development enables the launch of UAE-domiciled funds for retail investors, strengthening the UAE’s status as a regional financial and investment hub.

 

3. 19 August – World Humanitarian Day: World Humanitarian Day is observed annually on 19 August around the world to pay tribute to aid workers who risk their lives in humanitarian service. This day also honours the work of women in crises throughout the world.Theme 2025 – Strengthening Global Solidarity and Empowering Local Communities.The day commemorates the 1995 bombing of the UN headquarters in Baghdad, which killed 22 people, including UN staff members. This tragic event serves as a reminder of the dangers faced by aid workers in conflict zones.

 

4. 19 August – World Photography Day: World Photography Day is celebrated annually on 19 August to honour the art, craft, and science of photography.It recognises the role of photography in documenting moments, telling stories, and capturing memories.Theme 2025 – My Favourite PhotoThe day commemorates the invention of the first permanent photograph in 1839 by Louis Daguerre, who introduced the daguerreotype process, marking a major milestone in the history of photography.

 

 

 

 

OTHER UPDATES:

DEFENCE

 

1. Sarvottam Yudh Seva Medals: The Sarvottam Yudh Seva Medals (SYSM) were awarded in 2025 to seven military leaders for their distinguished service during Operation Sindoor. This operation was launched by the Indian Armed Forces in response to a terror attack in Pahalgam. The awards recognise exceptional leadership and operational success in wartime. This year, the Indian Air Force received the majority of medals, followed by the Army and Navy. Operation Sindoor began on 7 May 2025. It targeted nine terror camps in Pakistan and Pakistan-occupied Kashmir. The operation was a direct response to the Pahalgam terror attack, which resulted in 26 civilian deaths. The attack was attributed to terrorists linked with Lashkar-e-Taiba. The operation aimed to neutralise terror infrastructure and restore security along the Line of Control (LoC).

 

SPORTS

 

1. Bihar CM Unveils Logo, Mascot “Chand” and Trophy for 12th Men’s Asia Cup Hockey 2025 in Rajgir: Bihar CM Nitish Kumar unveiled the logo, mascot (“Chand”) and trophy of the 12th Men’s Asia Cup Hockey Championship, which Bihar is hosting for the first time from 29 August to 7 September 2025 at Rajgir International Stadium.The mascot “Chand”, inspired by Major Dhyan Chand and the tiger of Valmiki Tiger Reserve, symbolises courage, agility, strength, and pays tribute to India’s hockey legacy.The tournament, starting on National Sports Day (29 August), will feature teams from India, China, Japan, Chinese Taipei, Malaysia, South Korea, Oman, and Bangladesh, with the winner directly qualifying for the Hockey World Cup.

 

2. Former Australian Cricketer, Captain and Coach Bob Simpson Dies: Former Australian cricketer, captain and coach Bob Simpson passed away at the age of 89; he represented Australia in 62 Tests and 2 ODIs (1957–1978), scoring 4,869 runs and taking 71 wickets, while captaining in 39 Tests.Simpson made his first-class debut at age 16 for New South Wales against Victoria and went on to score 10 centuries and 27 half-centuries in Test cricket.As coach of Australia from 1986 to 1996, he guided the team to the 1987 World Cup victory, four Ashes wins, and the 1995 Frank Worrell Trophy, ending a 17-year drought against West Indies.

 

SCIENCE AND TECHNOLOGY

 

1. Himalayan Disaster Risks: The 2025 monsoon season exposed the growing vulnerability of the Himalayan region to extreme weather events. Catastrophic cloudbursts in Uttarkashi and Kishtwar caused massive loss of life and infrastructure damage. Himachal Pradesh faced numerous cloudbursts, flash floods, and landslides, displacing thousands. These incidents reveal a disturbing trend – severe natural hazards in the Himalayas are intensifying and becoming more frequent due to climate change and human activities. Rapid urbanisation on fragile slopes often ignores geological safety. Concrete constructions replace traditional buildings without adequate drainage or risk assessments. Infrastructure projects like hydropower plants and roads cause deforestation and blasting, weakening hillsides. Poor enforcement of building codes and environmental safeguards compounds vulnerability.

 

2. India’s Innovation Surge Fuels Patent Growth: India’s innovation landscape has undergone a remarkable transformation in recent years. For the first time in 2023, Indian-origin patent filings exceeded those from any other single foreign country within India. This milestone marks India’s shift from a technology consumer to a technology creator. The change reflects government policies, institutional support, and rising research capabilities. ndian applicants accounted for 57% of all patent filings in 2023. This is increase from the early 2000s when Indian institutions filed less than 20% of patents domestically. India has also become the second-largest recipient of granted patents, overtaking the US in 2021. The growing share of patents indicates the country’s expanding role in the global intellectual property ecosystem.

 

BANKING AND FINANCE

 

1. Bank of Baroda Expands bob इ Pay with International UPI Services for NRIs and Global Payments: Bank of Baroda has enhanced its bob इ Pay UPI app by introducing three new international features – UPI Global Acceptance, Foreign Inward Remittance, and UPI Services for NRIs.The upgrade will enable seamless, secure, and real-time cross-border digital payments and remittances for both Indian residents and NRIs.The initiative reflects Bank of Baroda’s commitment to innovative, user-centric digital banking solutions, as highlighted by Executive Director Sanjay Mudaliar.

 

2. RBI to Roll Out Real-Time Cheque Clearing from October 4, 2025, Reducing Settlement Time to Hours: RBI will introduce real-time cheque clearing from October 4, 2025, reducing settlement risks and improving customer convenience, replacing the current CTS system that clears cheques in 1–2 working days.The system will run alongside NEFT, RTGS, and IMPS, which already provide electronic fund transfers, with NEFT having no RBI-set limit (e.g., SBI allows up to ₹25 lakh, HDFC has its own restrictions).Cheques will be scanned, processed, and settled continuously during business hours, ending the batch-clearing method and reducing the current T+1 clearing cycle to just a few hours.Phase 1 (Oct 4, 2025 – Jan 2, 2026): Banks must confirm cheques by 7:00 pm same day; if no response, the cheque will be automatically approved and settled.

 

3. Sebi Launches Investor Awareness Campaign on AIR and Nationwide Training for Panchayat Representatives: Sebi has started an investor awareness campaign on All India Radio to alert investors about frauds in the securities market occurring via social media platforms.In collaboration with the Ministry of Panchayati Raj, Sebi is conducting nationwide training for block-level panchayat representatives to promote financial literacy and investor education at the grassroots level.The initiative aims to caution investors to protect themselves from fraudulent schemes on platforms like YouTube, Facebook, Instagram, WhatsApp, X (formerly Twitter), and Telegram.The first training programme, held on 9–10 August 2025 at Yashwantrao Chavan Academy, Pune, trained over 100 sarpanch and block-level representatives on financial planning, savings, investments, protection from scams, and awareness of the securities market ecosystem.