National

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.

Appointment

Jagdeep Dhankhar elected as 14th Vice-President of India to replace M Venkaiah Naidu

• Jagdeep Dhankhar has been elected as the 14th Vice-President of India after he won the presidential polls to elect the next Vice-President on August 06, 2022.
• Dhankhar clinched a total of 528 votes from 725 votes cast and defeated Opposition nominee Margaret Alva who bagged 182 votes.
• He will take the oath of the office on August 11, 2022.
• He will replace incumbent Vice-President M Venkaiah Naidu, whose term is ending on August 10, 2022.
• It must be noted that the Vice President is also the ex officio Chairman of the Rajya Sabha.
• Dhankhar  is the former Governor of West Bengal, who served from July 2019 to July 2022.

Unity SFB appoints Inderjit Camotra as MD & CEO

• The Unity Small Finance Bank (SFB) Limited (Unity Bank) has appointed its interim CEO, Inderjit Camotra as the managing director and chief executive officer (MD & CEO) of the bank.
• Senior banker Camotra has previously held various leadership positions at Standard Chartered Bank, ANZ and Citibank and has over 25 years of experience across India.
• Unity SFB is a joint venture between Centrum Group and Bharatpe. Its headquarter is in New Delhi.

Banking & Economy

RBI imposes monetary penalty of Rs 32 lakh on Indian Bank and Rs 82 lakh on Bengaluru-based Jupiter Capital

• The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs. 32 lakh on Indian Bank for breach of directions on classification and reporting of frauds.
• The decision was based on the Statutory Inspection for Supervisory Evaluation (ISE) of the bank conducted by RBI with reference to its financial position as on March 31, 2019. The Risk Assessment Report, Inspection Report and all related correspondence revealed that Indian Bank was in violation of certain provisions of RBI (Fraud classification and reporting by commercial banks and select FIs) Directions, 2016.
• The bank failed to comply with the above-mentioned directions, and even furnished flash report to RBI in certain instances with delay.
• Apart from this, RBI has also imposed a penalty of Rs 82 lakh on Jupiter Capital Private Ltd, a non-bank lender based in Bengaluru.
• The penalty has been levied for breach of norms on submission of credit information to Central Repository of Information on Large Credits, and submission of credit information data to Credit Information Companies.

RBI opens Bharat Bill Payment System for NRIs to pay utility bills 

• The Reserve Bank of India (RBI) has decided to enable Bharat Bill Payment System (BBPS) for non-resident Indians (NRIs), to accept cross-border inward payments.
• This will allow NRIs to pay any bill, like insurance, electricity, and other utilities, for their family in India.
• They will get access to the full suite of more than 20,000 bill collections available on BBPS, which they may not otherwise have access to.
• Also, NRIs will no longer need to have an NRE account in India for making bill payments.
• Earlier the system was accessible to people residing in India only.
• This move will ease bill payment for many families, especially senior citizens who find it difficult to make their payments and whose children reside abroad.
• BBPS is owned and operated by the National Payments Corporation of India (NPCI).
• The payment modes options at BBPS are cash, cards (credit, debit & prepaid), IMPS, UPI, AEPS, internet banking & UPI, wallets.

SEBI constitutes 15-member Advisory Committee to attract foreign investment; Head = K V Subramanian

• 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
  • 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.
  • Review investment avenues available for FPIs and advise on the feasibility of new investment avenues.
  • Suggest measures required to encourage FPI participation in the bond market.

International

South Korea launches its first lunar orbiter ‘Danuri’

• South Korea launched its first lunar orbiter or ‘Korea Pathfinder Lunar Orbiter’ on August 05, 2022.
• This move is in line with the vision to land a probe on the moon by 2030.
• The 678 kg (1,495 lb) Orbiter is nicknamed as Danuri, which means “Enjoy the Moon”.
• The launch took place on SpaceX’s Falcon 9 rocket from Florida’s Cape Canaveral U.S. Space Force Station.
• Danuri will enter the moon’s orbit in December 2022 and then start a yearlong observation mission, comprising of searching for a landing site and testing space internet technology.
• Once the mission is successful, South Korea will become the only seventh lunar explorer country in the world and the fourth in Asia, after China, Japan and India.

Sports

Bajrang Punia, Deepak Punia and Sakshi Malik wins gold for India at 2022 CWG; Anshu Malik claims silver; Divya Kakran and Mohit Grewal settles for bronze

• Ace Indian wrestler Bajrang Punia clinched Gold Medal for India in Men`s 65 kg at the ongoing Commonwealth Games 2022 at Birmingham. He defeated Canada`s Lachlan Mcneil.
• Following this, wrestler Deepak Punia won the gold medal in the Men’s 86 kg final. He defeated Pakistan’s Muhammad Inam by 3-0.
• Sakshi Malik also won gold in the Women’s 62kg Freestyle wrestling final. She defeated Ana Godinez Gonzales of Canada.
• Meanwhile, Anshu Malik won the silver medal in the Women’s Freestyle 57kg category wrestling. She lost to Odunayo Folasade Adekuoroye of Nigeria, 3-7 to stand second.
• Apart from them, Indian wrestlers Divya Kakran (women’s 68kg) and Mohit Grewal (men’s 125kg) won bronze medals in their respective categories.

Avinash Sable and Priyanka Goswami wins silver in athletics at 2022 CWG

• In athletics, Avinash Sable claimed silver medal in Men’s 3000 Steeplechase final at the Commonwealth Games 2022 in Birmingham, UK.
• Avinash clocked personal best of 8:11.20 and also broke the 3000m Steeplechase National Record.
• Abraham Kibiwot of Team Kenya won gold and Amos Serem of Team Kenya won bronze.
• Meanwhile, Priyanka Goswami won silver in the women’s 10,000m race walk. She covered the marathon distance in 49 minutes and 38 seconds, her personal best.
• She is the first Indian women to win the Commonwealth Games medal in race walking.

India beat Bangladesh 5-2 to clinch 2022 SAFF U20 Championship

• 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 hosts of the 4th edition of the SAFF U-20 Championship, held between July 25 to August 5, 2022.
• Sibajit Singh Leimapokpam was the captain of Indian team and Som Kumar was the goalkeeper.
• Top scorer – Gurkirat Singh (8 goals)
• Best player – Gurkirat Singh 
• Best goalkeeper – Som Kumar
• SAFF U-20 Championship is an international football competition for men’s under-18 national teams organized by South Asian Football Federation (SAFF).

Days

Hiroshima Day (Anti Nuclear Day/ Nagasaki Day) : 06 August

• Hiroshima Day takes place every year on August 6 to commemorate the day in August 1945 when an atomic bomb was dropped on the Japanese city of Hiroshima on August 6 by United States, followed a few days later by another drop on the city of Nagasaki on August 9.
• Although these bombings effectively ended World War II, the two cities were terribly destroyed and casualties were estimated at around 200,000, mostly civilians.
• This was the first time in the history of warfare when a nuclear bomb was used against a nation.
• The Day is observed to advocate, pray and work for a ban on all nuclear weapons and an end to war and violence through anti-war and anti-nuclear discussions and demonstrations around the world.
• 2022 marks the 77th anniversary of the world’s first atomic bombing.

India observes 2nd ‘Javelin Throw Day’ on August 07, 2022

• The Athletics Federation of India (AFI) will be celebrating second ‘Javelin Throw Day’ on August 7, 2022.
• The day was first observed in 2021 in honour of Javelin thrower Neeraj Chopra, who won India’s first Olympic gold medal in athletics at Tokyo.
• Neeraj threw best effort of 87.58m in Tokyo to secure India’s first track and field medal at the Olympics Games.
• This decision to observe Javelin Throw Day is also an attempt to attract more youth towards the sport and get champions ready for a bright future in athletics ahead.

National Handloom Day: 07 August

• In India, the National Handloom Day is observed annually on 7 August to honour the handloom weavers in the country and also highlight the contribution of handloom industry to the socioeconomic development of the country and increase income of the weavers.
• The Union government officially declared August 7 as NHD in July 2015.
• It was on this day in 1905, that the Swadeshi Movement was launched in the Calcutta Town hall to protest against partition of Bengal by the British Government.
• 2022 marks the 8th National Handloom Day.

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