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NATIONAL AFFAIRS
Union Minister Dr. Jitendra Singh Unveils Dedicated Website to Give Further Boost to Coastal Clean-Up Campaign; Launches Campaign Logo Vasuki
Union Minister Dr. Jitendra Singh, Ministry of Earth Sciences (MoES), launched a dedicated website (www.swachhsagar.org) to support the ongoing “Swachh Sagar Surakshit Sagar/Clean Coast Safe Sea” Campaign 2022—a 75-day citizen-led campaign to improve ocean health through collaborative action.
- He has also launched the Campaign Logo “Vasuki”, which is dedicated to the youth of India, as they, like school students, are interested in participating in coastal and beach cleaning activities.
“Swachh Sagar Surakshit Sagar/Clean Coast Safe Sea” Campaign 2022
i.Under the “Swachh Sagar Surakshit Sagar/Clean Coast Safe Sea” Campaign 2022, the MoES has begun a coastal clean-up drive with a goal of cleaning 75 beaches across India in 75 days.
ii.The “Eco Mitram“ mobile app has been launched to raise awareness about the campaign and to encourage the general public to volunteer for the beach cleaning activities on September 17, 2022.
iii.The event in 2022 coincides with the 75th anniversary of India’s independence, and the coastal clean-up effort will be carried out at 75 beaches across India, with 75 volunteers for every kilometre of coastline.
About Ministry of Environment, Forest and Climate Change (MoEFCC):
Union Minister – Bhupender Yadav (Rajya Sabha – Rajasthan)
Minister of State (MoS) – Ashwini Kumar Choubey
>> Read Full News
PM Narendra Modi visit to Gujarat; Laid foundation stone and inaugurated various Developmental Projects
ii.He also addressed a programme in Gandhinagar, marking the commemoration of 40 years of Suzuki in India.
iii.Held as part of Azadi ka Amrit Mahotsav, Khadi Utsav was organized at Sabarmati Riverfront, Ahmedabad. It witnessed 7500 women khadi artisans from various districts of Gujarat spinning charkha live at the same time and at the same place.
iv.He inaugurated India’s first earthquake memorial, Smriti Van- A State of the art Smriti on seven themes at Bhuj. It is built atop Bhujiyo hill in an area of around 470 acre.
About Gujarat:
Chief Minister– Bhupendrabhai Patel
Stadium– Bilakhia Stadium, CB Patel International Cricket Stadium, Pandit Deendayal Upadhyay Stadium
Dance– Tippani, Hudo, Padhar
>> Read Full News
Union Finance Minister Nirmala Sitharaman Announces “Millet Challenge” With Rs. 1 Crore Prize Each For 3 Startups
Union Minister Nirmala Sitharaman, Ministry of Finance (MoF), attended the two-day Millet Conclave 2022 on the theme of “Making Many Millet Magnets-Making Many Millet Entrepreneurs” on the August 26 -27, 2022, jointly organised by the National Bank for Agriculture and Rural Development (NABARD) and the University of Agricultural Sciences (UAS), Raichur, Karnataka.
- The Finance Minister (FM) made announcements about the “Millet Challenge” and a funding of Rs. 25 crore by NABARD to UAS, Raichur, during the ceremony.
i.The Millet Challenge will be administered by the Atal Innovation Mission (AIM) of the NITI Aayog (National Institution for Transforming India), with UAS, Raichur as its field partner.
ii.Sitharaman also announced a Rs. 25 crore funding from NABARD under the Rural Infrastructure Development Fund (RIDF) to the University of Agricultural Sciences (UAS) at Raichur, Karnataka.
iii.India took the lead in pushing for the United Nations General Assembly’s (UNGA) resolution designating 2023 as the International Year of Millets (IYoM) in order to boost domestic and international demand and give people nutritional meals. A total of 72 nations endorsed the Indian proposal.
About National Bank for Agriculture and Rural Development (NABARD):
Chairperson – Dr. G.R. Chintala
Founded – 1982
>> Read Full News
PMJDY completes 8 years of Successful Implementation on Aug 28, 2022
ii.As on August 10, 2022, the total numbers of PMJDY accounts are increased to 46.25 crore from 14.72 crore in March 2015 with deposit balance of Rs 1.74 lakh crore. Out of this 55.59% (25.71 crore account holders are women and 66.79% (30.89 crore) Jan Dhan accounts are in rural and semi-urban areas.
iii.Total deposit balances under PMJDY Accounts stand at Rs. 1,73,954 crore
Deposits have increased about 7.60 times with increase in accounts 2.58 times.
About Ministry of Finance:
Union Minister– Nirmala Sitharaman (Constituency – RajyaSabha, Karnataka)
Ministers of State– Pankaj Chaudhary (Constituency – Maharajganj, Uttar Pradesh); Dr. Bhagwat Kishanrao Karad (Constituency – Rajya sabha Maharashtra)
>> Read Full News
Indian Railways Protection Force launches ‘’Operation Yatri Suraksha’’
Indian Railway along with the Railway Protection Force (RPF) launched a pan-India operation known as “Operation Yatri Suraksha” to improve the security of passengers.
- To initiate Operation Yatri Suraksha’, the RPF launched a month-long pan-India drive against criminals who loot passengers in July 2022.
- During the drive, the RPF caught 365 suspects who were handed over to the concerned GRPs for legal action.
- Under the initiative, several steps are being taken to provide foolproof security to passengers including train escorting, visible presence on stations, surveillance through CCTV, surveillance on active criminals and others.
‘The Temple of Vedic Planetarium’ world’s largest religious monument in West Bengal
The World’s largest religious monument ‘The Temple of Vedic Planetarium’ in Mayapur in Nadia, West Bengal, the project worth USD 100 million (Rs 7 billion) is expected to be open in 2024, due to pandemic’s 2 years of delay.
This monument, which will have the world’s largest dome, will serve as the headquarters of the International Society of Krishna Consciousness (ISKCON). The monument is the vision of Srila Prabhupada, founder of ISKCON.
- The monument will supposedly replace Angkor Wat, Cambodia’s 400-acre large Temple complex as World’s largest religious monument. The design is inspired by the Capitol building in the United States. The Vedic Planetarium will have different parts of the cosmic creation.
- It will be bigger than India’s Taj Mahal and St. Paul’s Cathedral in the Vatican.
BANKING & FINANCE
NIPL Signs MoU with PayXpert as UK’s First Acquirer for UPI and RuPay
NPCI International Payments Limited (NIPL), a wholly-owned subsidiary of National Payments Corporation of India (NPCI) has signed a Memorandum of Understanding (MoU) with PayXpert, London-based payments solutions provider, to internationalise the acceptance of its payment solutions, Unified Payments Interface (UPI) and the RuPay card, in the United Kingdom (UK).
- NCPI is the organisation behind the world’s largest real-time payment (RTP) solution, the UPI and Rupay card scheme.
Key points:
i.This collaboration will make the Indian payment solutions available in the UK on all PayXpert’s android point-of-sale (POS) devices for in-store payments that includes UPI-based QR code payments and RuPay card payments.
ii.Both the payment options will benefit consumers and retailers across the UK while providing a welcome boost to commerce across the sectors that includes retail, hospitality and tourism.
About UPI & Rupay:
i.Unified Payments Interface (UPI) – UPI is one among the number of successful RTP systems globally that provides simplicity, safety, and security in person-to-person (P2P) and person-to-merchant (P2M) transactions in India.
- In 2021, UPI has achieved a volume of USD 940Billion (39 billion transactions), which is equivalent to 31 percent of India’s Gross Domestic Product (GDP).
ii.RuPay is the first-of-its-kind Global Card payment network from India with over 700 million cards issued until now.
- Through this partnership, Indian travellers can make payments in the UK conveniently.
India Surpasses China, UK To Become 10th Largest Life Insurer Globally
According to the latest report tracking the performance of the industry by Benori Knowledge, a new-age provider of specialised research and analytics solutions, the life insurance penetration rate in India has increased to 3.2% in December 2021 from 2.8% in December 2019.
- India is now the 10th largest Life Insurance market in the world almost at par with the global average of 3.3%. and is ahead of China (at 2.4%) and the United Kingdom (UK) (at 3%).
- From 2017 to 2022, the life insurance sector grew at a CAGR (Compound Annual Growth Rate) of 11%, and it is expected to grow at a CAGR of 9% during the next five years (2022-2027).
Benori identifies five major trends that will define the next five years, with the life insurance sector projected to rise by 9% between 2022 and 2027.
i.Despite the price increase, pure protection solutions will remain popular across all age groups and demographics. The Unit Linked Insurance Plan (ULIP) will also witness an uptrend.
ii.Companies will be inspired to look for novel methods to improve consumer engagement and experience by engaging with customers in more personal digital sales interactions and through hyper-personalization.
According to the most recent statistics on health insurance coverage collected by the National Family Health Survey (NFHS) in 2019-21, around 88% of Rajasthan households have at least one person covered by a health scheme or health insurance.
About Insurance Regulatory and Development Authority of India (IRDAI):
Chairman – Debasish Panda
Establishment – 1999
>> Read Full News
PGIM India Mutual Fund Launches an Investor Education and Awareness Initiative – MoneyAndMe website
PGIM India Mutual Fund launched a new investor education and awareness website, ‘MoneyAndMe’ (https://moneyandme.pgimindiamf.com/).
- The company also announced the launch of a consumer awareness campaign ‘Aapka HappinessPlanned’ to promote the MoneyAndMe Initiative.
About MoneyAndMe website:
i.The MoneyAndMe website is a personality based initiative that enables consumers to take financial decisions, pursue their passion and achieve their life goals by following the right sequencing such as budgeting, protection, savings and investing.
ii.There are 6 characteristics that deal with financial challenges inlcuding Gen-z Seekers and Dreamers (18-24 years), Ambitious & Every-ready (25-30 years), Begin & Soar (31-40 years), Family First & Forever (41-50 years), Seasoned & Secured (51-60 years), Proud & Purposeful (61+ years).
- The website offers certain content formats such as blogs, listicles, infographics, calculators, Frequently Asked Questions (FAQs) and glossaries for each of these characteristics to enable better solutions.
About Aapka Happiness Planned Campaign:
i.In order to promote the MoneyAndMe initiative, PGIM India Mutual Fund has introduced its marketing campaign ‘Aapka Happiness Planned’ with a film. https://youtu.be/0Bs4zFDZ0YQ
- The film comprises a lyrical song that conveys the true meaning of happiness and reminds people that life is more important than money.
ii.The insight for the campaign came from the fact that pursuit of happiness is what drives most individuals to make choices in life.
iii.According to a study done by Princeton in 2010, happiness is influenced more by a sense of purpose, habits, social connections, gratitude and experiences and PGIM India is helping investors connect with these insights.
About PGIM India Mutual Fund:
PGIM India Mutual Fund is a wholly-owned business of PGIM, the global investment management business of the US-based Prudential Financial, Inc. (PFI).
Chief executive Officer (CEO) – Ajit Menon
Headquarters – Mumbai
ICICI Bank Partners with NPCI to Launch RuPay Credit Cards
ICICI Bank has partnered with the National Payments Corporation of India (NPCI) to launch a range of credit cards on the native payments network Rupay. The ICICI Bank RuPay Credit Card has been made available in the Coral variant of the ICICI Bank’s Gemstone series. This will be followed by the Rubyx and Sapphiro variants.
- In partnership with NPCI, ICICI Bank to launch ICICI Bank Credit Cards on RuPay network, an Indian card payments network equipped with state-of-the-art technology.
Benefits:
i.The customers earn 2 reward points, on every Rs. 100 spent on the card (except fuel) and earn 1 reward point, on every Rs. 100 spent on utilities and insurance categories along with 2000 bonus reward points on spending Rs. 2 lakh on the card in a year.
ii.Complimentary access to the domestic airport lounge and select railway lounges in India along with exclusive dining offers through ICICI Bank Culinary Treats Programme.
iii.The card also offers exclusive benefits of the RuPay network such as accident insurance coverage to the cardholder and dedicated personal concierge services.
iv.This also includes exclusive discounts on movie ticket bookings on BookMyShow and waives fuel surcharge on fuel transactions
v.This includes personal accident insurance cover of Rs. 2 lakh with 24×7 Concierge services.
About National Payments Corporation of India (NPCI):
MD & CEO – Dilip Asbe
Establishment –2008
Headquarters – Mumbai, Maharashtra
ECONOMY & BUSINESS
RVNL sign MoU with BHEL to make Manufacturing, Infrastructure & Project Execution Indigenous
Rail Vikas Nigam Limited (RVNL), under the Ministry of Railways, signed a Memorandum of Understanding (MoU) with Bharat Heavy Electricals Limited (BHEL), under the Ministry of Heavy Industries, to make components and equipment manufacturing, infrastructure development and project execution indigenous.
Signatories:
The agreement was signed between Ajit Singh, RVNL Executive Director and Rajiv Bhatnagar, BHEL Executive Director in the presence of Nalin Singhal, BHEL CMD (Chairman & Managing Director), Pradeep Gaur, RVNL CMD and Rajesh Prasad director-operations, RVNL.
Highlights:
i.The MoU aims to identify and explore the execution projects, both in India and abroad, and set up a Special Purpose Vehicle(SPV) with equity contribution and through synergy of their respective capabilities.
ii.This will enable the collaboration between both the companies in both present and future areas of operations towards the “Atmanirbhar Bharat Abhiyan” of the Indian Government.
Note:
i.BHEL is a Maharatna company and the largest engineering and manufacturing enterprise in the energy and infrastructure sector in India.
ii.RVNL is a Miniratna Central Public Sector Enterprises (CPSE), it fulfils 30-35% of the infrastructure requirements of the railways.
About Bharat Heavy Engineering Limited (BHEL):
Headquarters- New Delhi, Delhi
Founded-1964
CEO-Nalin Singhal
HAL to open first overseas marketing office in Malaysia
Hindustan Aeronautics Limited (HAL) signed a Memorandum of Understanding (MoU) in the presence of Dr Ajay Kumar, Secretary of Defence for opening its first international marketing and sales office in Kuala Lumpur, Malaysia.
- The MoU was signed by HAL general manager (GM) (LCA), Ravi K and Major (R) Mohd Husairi Bin Mat Zain of Forte Drus, the official representative of HAL in Malaysia.
- The office in Malaysia will help HAL in tapping the new business opportunities for Fighter Lead-in Trainer (FLIT) Light Combat Aircraft (LCA) Tejas and other requirements of the Royal Malaysian Air Force (RMAF) like the upgradation and servicing of the Russian Su-30s and British Hawk trainer aircraft,
APPOINTMENTS & RESIGNATIONS
Prof Ananth Narayan Gopalakrishnan appointed as Whole Time Member of SEBI
The Appointments Committee of Cabinet (ACC) has appointed Ananth Narayan Gopalakrishnan, an associate professor at SP Jain Institute of Management and Research (SPJIMR), as a whole-time member of the Securities and Exchange Board of India (SEBI).
- He will hold office for 3 years from the date he assumes charge of the post or until further orders, whichever is earlier.
- With this appointment, Ananth Narayan Gopalakrishnan becomes the 4th whole-time member of SEBI, which was vacant until November 2021.
- The 3 other whole-time members of SEBI are S. K. Mohanty, Ananta Barua and Ashwani Bhatia.
About Ananth Narayan Gopalakrishnan:
i.He is currently an independent director on the Boards of SBI Capital Markets Limited, Clearcorp Dealing Systems Limited, CARE Ratings Limited, Agappe Diagnostics Limited, Southern Ridges Macro Fund, and Southern Ridges Master Macro Fund.
ii.Apart from being associate professor, he is also a senior India analyst at the Observatory Group and a public interest director for the NSE IFSC Gift City in Gujarat and for the National Securities Clearing Corporation.
iii.He has served as the Reserve Bank of India (RBI)-nominated additional director on the YES Bank board and has also worked with Citibank, Deutsche Bank and Standard Chartered Bank.
iv.Till December 2017, he was Managing Director (MD) and Regional Head of financial markets, Association of Southeast Asian Nation (ASEAN) & South Asia with Standard Chartered Bank.
About Securities and Exchange Board of India (SEBI):
Chairperson – Madhabi Puri Buch
Establishment – 1992
Headquarters – Mumbai, Maharashtra
ACC appointed Dr Krishnamurthy Subramanian as India’s ED at IMF
The Appointment Committee of the Cabinet (ACC) has approved Dr Krishnamurthy Venkata Subramanian, former Chief Economic Adviser as the Executive Director (ED) (India) at the International Monetary Fund (IMF) with the effect from November 1, 2022.
- Subramanian was appointed to the post for 3 years tenure. He is currently a Professor of Finance at the Indian School of Business (ISB).
- The current ED of India who has been curtailed to October 31 is, Surjit S Bhalla.
SPORTS
Max Verstappen Wins Belgium GP & Extends F1 Championship Lead
On 28th August 2022 Red Bull’s Max Verstappen, the dutch flyer, won the Formula 1 Rolex Belgian Grand Prix 2022 and extended his lead in the FormulaOne World Championship 2022. Red Bull’s Sergio Perez and Ferrari’s Carlos Sainz finished 2nd and 3rd respectively.
- The 2022 Belgian Grand Prix takes place over 44 laps of the 7.004-kilometre Circuit de Spa-Francorchamps
- Formula One championships are sanctioned by Federation Internationale de l’Automobile (FIA)
Highlights:
i.Max Verstappen has won 9 of this season’s 14 races and led at the top with 284 points followed by Sergio Perez with 191 points and Charles Leclerc with 186 points.
ii.Verstappen became only the second driver to win successive races from 10th or lower on the grid. In the Hungarian GP he won from 10th on the grid and in the Belgium GP he won from 14th on the grid.
iii.Verstappen secured his 2nd successive world title and is one of 8 drivers who were hit with engine and gearbox-related grid penalties for the Belgian Grand Prix.
iv.This marks Sergio Perez’s 7th top-two finish of the year. he had only had 5 top-two finishes in his career before 2022.
v.For Carlos Sainz, this marks his 7th podium finish of the season.
About Federation Internationale de l’Automobile (FIA):
President – Mohammed bin Sulayem
Headquarters – Paris, France
Founded in 1904
IMPORTANT DAYS
National Sports Day 2022 – August 29
The National Sports Day (Rashtriya Khel Divas) is annually celebrated on 29th August across India to commemorate the birth anniversary of hockey legend Major Dhyan Chand.
- He was born on 29th August 1905 in Allahabad, British India (Present day Prayagraj, Uttar Pradesh).
- The day aims to spread awareness about the importance of sports to lead a healthy life and honour the sportspersons of India.
- The president felicitated sports awards such as the Major Dhyan Chand Khel Ratna Award, Arjuna Award, Dronacharya Award, Dhyan Chand Awards etc on the occasion of National Sports Day.
International Day against Nuclear Tests 2022 – August 29
The United Nations (UN)’s International Day against Nuclear Tests is annually observed across the world on 29th August to bring awareness regarding the harmful effects of testing nuclear weapons.
- The day aims at calling for an end to such nuclear tests.
- 29th August 2022 marks the thirteenth International Day against Nuclear Tests.
STATE NEWS
Tata Steel inked MoU with Punjab Government to set up Steel Plant in Ludhiana
The Memorandum of Understanding (MoU) was signed between Tata Steel Limited and the Government of Punjab for setting up a 0.75 million tonne per annum (MnTPA) long products steel scrap-based electric arc furnace (EAF) steel plant in Ludhiana, Punjab.
- The MoU was signed in the presence of the Chief Minister of Punjab, Bhagwant Singh Mann.
- The investment by the Punjab Government is Rs 2,600 crore and handed over a land allotment letter to Tata Steel. The land is allotted next to the Hi-Tech Valley Industrial Park of the Punjab government.
Key Points:
i.Initiating the greenfield facility at Kadiana Khurd, Hitech Valley, Ludhiana, Punjab, is a part of Tata Steel’s investment in a circular economy and transition to low-carbon steel making through the steel recycling route. It is to achieve the company’s goal of Net Zero carbon emission by 2045.
ii.EAF- based Steel plant would manufacture construction-grade steel reinforcing bar (rebar) under the Company’s flagship retail brand ‘Tata Tiscon’, to allow Tata Steel expand its market position in the construction part.
iii. Punjab was chosen according to its ideal location for its electric arc furnace to the market and scrap generating Auto Hub.
iv.Tata Steel commissioned its 1st Steel Recycling plant of 0.5 MnTPA capability at Rohtak, Haryana in August last year. It is the most recent stage of technological development in scrap processing in India.
About Tata Steel Limited:
CMD- T.V. Narendran
Establishment- 1907 (Asia’s 1st integrated private steel company)
Headquarters- Mumbai, Maharashtra
Maharashtra’s First ‘Divyang Park’ Inaugurated in Nagpur by MoSJE
On 26th August 2022, the Ministry of Social Justice and Empowerment (MoSJE) inaugurated Maharashtra’s first ‘Divyang Park’ for Divyangjan under the Assistance to Disabled Persons (ADIP) scheme of MoSJE, Government of India (GoI), in Reshimbagh Ground in Nagpur, Maharashtra.
- MoSJE, GoI organised a ‘Samajik Adhikarita Shivir’ for the distribution of aids and assistive devices to Divyangjan & Senior citizens under the ADIP and ‘Rashtriya Vayoshri Yojana’ (RVY) scheme respectively.
- The scheme has been implemented in association with Artificial Limbs Manufacturing Corporation (ALIMCO), by Nagpur municipal corporation.
- The chief guest of the inauguration of the distribution camp was Union Minister of Road Transport and Highway, Nitin Gadkari.
- No. of aids and assistive devices – 2,41,200, worth Rs 3483 lakh is set to be distributed to 27,356 senior citizens and 7,780 Divyangjans.
Note: Minister of Social Justice and Empowerment- Virendra Kumar Khatik.
CM Bommai extended Vidyanidhi Scheme for Agricultural Labourers Kids
Chief Minister(CM) of Karnataka, Basavaraj Bommai announced the decision taken in the State Cabinet meeting to extend the ‘Vidyanidhi’ scheme to the agricultural labourers’ children in Ranebennur, Haveri, Karnataka.
- After inaugurating new projects in Ranebennur Assembly Constituency, Bommai reports to provide nutritious food and be established in 4,000 Anganwadi centres.
- The Government has sanctioned Rs 30 crore to acclaim a sericulture market.
- The government has planned Rs 50,000 for the rural craftsperson.
- Vidyanidhi Scheme, an educational loan facility was offered by the State Bank of India (SBI) to enable the student to pay a refundable deposit.
Note: Vidyanidhi Scheme is also known as ‘Raita Vidya Nidhi’.
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Current Affairs Today (AffairsCloud Today)
| S.no | Current Affairs 30 August 2022 |
|---|---|
| 1 | Union Minister Dr. Jitendra Singh Unveils Dedicated Website to Give Further Boost to Coastal Clean-Up Campaign; Launches Campaign Logo Vasuki |
| 2 | PM Narendra Modi visit to Gujarat; Laid foundation stone and inaugurated various Developmental Projects |
| 3 | Union Finance Minister Nirmala Sitharaman Announces “Millet Challenge” With Rs. 1 Crore Prize Each For 3 Startups |
| 4 | PMJDY completes 8 years of Successful Implementation on Aug 28, 2022 |
| 5 | Indian Railways Protection Force launches ‘’Operation Yatri Suraksha’’ |
| 6 | ‘The Temple of Vedic Planetarium’ world’s largest religious monument in West Bengal |
| 7 | NIPL Signs MoU with PayXpert as UK’s First Acquirer for UPI and RuPay |
| 8 | India Surpasses China, UK To Become 10th Largest Life Insurer Globally |
| 9 | PGIM India Mutual Fund Launches an Investor Education and Awareness Initiative – MoneyAndMe website |
| 10 | ICICI Bank Partners with NPCI to Launch RuPay Credit Cards |
| 11 | RVNL sign MoU with BHEL to make Manufacturing, Infrastructure & Project Execution Indigenous |
| 12 | HAL to open first overseas marketing office in Malaysia |
| 13 | Prof Ananth Narayan Gopalakrishnan appointed as Whole Time Member of SEBI |
| 14 | ACC appointed Dr Krishnamurthy Subramanian as India’s ED at IMF |
| 15 | Max Verstappen Wins Belgium GP & Extends F1 Championship Lead |
| 16 | National Sports Day 2022 – August 29 |
| 17 | International Day against Nuclear Tests 2022 – August 29 |
| 18 | Tata Steel inked MoU with Punjab Government to set up Steel Plant in Ludhiana |
| 19 | Maharashtra’s First ‘Divyang Park’ inaugurated in Nagpur by MoSJE |
| 20 | CM Bommai extended Vidyanidhi Scheme for Agricultural Labourers Kids |
