Current Affairs 7 & 8 August 2022

We are here for you to provide the important Recent and Latest  Current Affairs 7 & 8 August  2022, which have unique updates of Latest Current Affairs 2022 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Ministry of CA, F&PD Launches Web-Based Common Registration Facility of Ration Cards On Pilot Basis in 11 States/UTs

The “Common Registration Facility” (My Ration-My Right) was introduced on a pilot basis covering 11 States/Union Territories (UTs) by Sudhanshu Pandey, Secretary of the Department of Food & Public Distribution (DFPD), Ministry of Consumer Affairs, Food & Public Distribution (CA, F&PD) Government of India (GoI).

• The 11 states and UTs are Assam, Goa, Lakshadweep, Maharashtra, Meghalaya, Manipur, Mizoram, Nagaland, Tripura, Punjab, and Uttarakhand.
• All 36 states and UTs will be integrated into the platform by the end of August 2022.

It aims to assist States/UTs in identifying the eligible beneficiaries and issue ration cards to such people so that they may obtain their lawful benefits under the National Food Security Act (NFSA), 2013.

• The NFSA provides comprehensive coverage for about 81.35 crore people. Currently, the Act provides highly subsidised food grains to almost 79.77 crore people. As a result, 1.58 crore new beneficiaries can be enrolled.

About Ministry of Consumer Affairs, Food and Public Distribution:
Union Minister – Piyush Goyal (Rajya Sabha – Maharashtra)
Minister of State (MoS) – Ashwini Kumar Choubey; Sadhvi Niranjan Jyoti
>> Read Full News

Indian Army Conducts Exercise Skylight to Test Resilience of Satellite-Based SystemsThe Indian Army performed a Pan-Indian exercise called “Skylight” to test and evaluate its entire satellite-based communication network to ensure operational readiness in the wake of a future conflict. The exercise took place from July 25 – 29, 2022.

• The exercise covered India’s eastern, northern, and island territories.

Key Points:
i. All Army satellite communication assets were activated during the two-week exercise, and a number of technical and operational space domain scenarios were simulated.

• The exercise was attended by Indian Space Research Organisation (ISRO) and various agencies responsible for space and ground segments.

ii.The Indian Army has conducted extensive studies on cyber and electromagnetic effects, considering the significance of electronic warfare in the Russia-Ukraine conflict.

• The studies showed the efficacy of reliable satellite communication, such as that provided by “Starlink,” a communications network operated by Elon Musk’s SpaceX.

Recent Advancements in Indian Army
i. In March 2022, the Defence Acquisition Council (DAC) approved the Indian Army’s first dedicated satellite, GSAT-7B, at a cost of Rs 4,635 crore by the Defence Acquisition Council (DAC), which will be launched at the end of 2025.

• Since the Indian Army lacks a dedicated satellite, the 12-lakh-strong force relies on various ISRO satellites to connect hundreds of static communication terminals, transportable vehicle-mounted terminals, man-portable and small-form factor man-pack terminals.

ii.The Indian Navy and Indian Air Force (IAF) already have their own GSAT-7 series satellites.

• The GSAT-7A satellite of the IAF is an advanced military communications satellite meant primarily for the Indian Air Force with Indian Army using 30% of capacity.
• GSAT-7 or Rukmini is the India’s first military satellite mainly covers the Indian Ocean Region (IOR).Its dedicated to Indian Naval Force.These two are the only two military-specific satellites currently in operation by India.

iii. GSAT-7B is designed as the first of its kind indigenous multiband satellite with advanced security features.

• It will assist in meeting the tactical communication needs of ground forces as well as remotely piloted aircraft, air defence weapons, and other crucial and fire support platforms.

iv.The Indian Army is also working on “Quantum Computing and Communications” in order to develop much better and more secure C4I2SR (Command, Control, Communication, Computers, Intelligence, Information, Surveillance and Reconnaissance) systems for future wars.

RK Singh Launches the 10th Integrated Ratings of DISCOMs; RPM meeting held with States and State Power Utilities

On 5th August 2022 the Review Planning & Monitoring (RPM) meeting with States and State Power Utilities was held at New Delhi, under the chairmanship of R. K. Singh, Union Minister of Power and New & Renewable Energy in presence of Minister of State for Power and Heavy Industries, Krishan Pal Gurjar.
Highlights:
i.During the meeting, the Union Minister launched the 10th Integrated Rating of Distribution Companies (DISCOMs), 1st Consumer Service Rating of DISCOMs (CSRD) for the FY 2020-21 and Bharat eSmart Mobile Application (BeSMA).
ii.Attendees – Secretary for Power, Secretary for New & Renewable Energy along with other senior officials from Ministry of Power, Ministry of New & Renewable Energy, Power Sector CPSEs and Power / Energy Departments of various States and State Power Utilities were present in the meeting.
>> Read Full News

Aurangabad Became 1st city in India to get Google’s Environmental Insights Explorer Data
As per the Aurangabad Smart City Development Corporation Limited (ASCDCL), Aurangabad, Maharashtra became the first city of India to officially release the Environmental Insights Explorer (EIE) data from Google.

• The EIE dashboard for Aurangabad was introduced by Google during an event in New Delhi.

Key Points:
i.This data would help the research groups in developing sustainable solutions in Aurangabad and will also improve the environment and society.

• Soon, Google’s EIE parameters for Aurangabad and its official study will be made available to the public.

ii.EIE data is consistent with Aurangabad’s commitment to the United Nations, with respect to ‘race to zero’ and ‘race to resilience program’.
iii.It will help in creating a sustainable environment for future generations.
About  Environmental Insights Explorer (EIE) data:
i.Google’s EIE feature helps cities to measure the carbon emission sources, conduct analysis and identify strategies to reduce emissions that help counter air pollution.
ii.While the EIE feature in India is only available for Aurangabad, Bengaluru, Chennai and Pune, Aurangabad city was chosen as the first city in India to make the transportation emissions data public.

Cochin Shipyard inks pact with IIM- Kozhikode to boost start-ups in maritime sector

Cochin Shipyard Limited (CSL), a Public Sector Shipyard under the Ministry of Ports, Shipping, and Waterways, and Indian Institute of Management (IIM)-Kozhikode in Kerala has signed an agreement to boost startups in the maritime sector.
i.The CSL and IIMK’s business incubator Laboratory for Innovation Venturing and Entrepreneurship (LIVE) plan to augment initiatives to develop an ecosystem for supporting the startups in the maritime sector from the technical, regulatory, financial, and marketing points of view by bringing the stakeholders together.
ii.The agreement was signed between Executive Director of IIMK LIVE, Prof. Rajesh Upadhyayula, and General Manager (C-SAS) of CSL, Deepu Surendran, in presence of IIMK Director, Prof. Debashis Chatterjee and Chairman and Managing Director of CSL, Madhu S Nair.
iii.Under the initiative, start-ups can get up to Rs 50 lakh as seed grants, Rs 1 crore as prototyping grants and equity funding for start-ups at the scale-up stage.

Prasar Bharati signs MoU with IIT Kanpur to develop Next Generation Broadcast solution

India’s public broadcaster, Prasar Bharati has signed a Memorandum of Understanding(MoU)with Indian Institutes of Technology (IIT), Kanpur to develop Next Generation Broadcast Solution and Roadmap for Digital Terrestrial Broadcasting consistent with emerging standards such as 5G Broadcast.

• In a written reply to the Lok Sabha, Anurag Thakur,Union Minister of Information and Broadcasting(I&B) stated that sanction for the proof of concept of Next Generation broadcasting has also been conveyed to IIT-Kanpur.
• The selection of an appropriate Next Generation broadcast technology and digital terrestrial transmission roadmap of Doordarshan(DD depends upon evaluation of this proof of concept.
• At present, DD has 23 Digital Terrestrial Transmitters(DTT) which are operational at 19 locations across India and All India Radio (AIR) has 123 megawatt(MW) transmitters in its network, of which there are 38 digital MW transmitters.

Legal Metrology (Packaged Commodities) Rules 2011 Amended for Ease of Doing Business

The Government of India(GoI) has amended the Legal Metrology (Packaged Commodities) Rules 2011 for ease of doing business and reducing the compliance burden for the electronic industries.

• Through the Legal Metrology (Packaged Commodities), (Second Amendment) Rules 2022, the Department of Consumer Affairs under the Ministry of Consumer Affairs, Food & Public Distribution has allowed the electronic products to declare certain mandatory declarations through the QR(quick response) Code for a period of 1year, if not declared in the package itself.
• This will allow the industry to declare the elaborated information in the digital form through the QR Code.

INTERNATIONAL AFFAIRS

Highlights of EAM Dr. S. Jaishankar’s Visit to Cambodia, August 03–05, 2022

Dr. S. Jaishankar, India’s External Affairs Minister (EAM), visited Cambodia from August 03-04, 2022, and attended the ASEAN-India Ministerial Meeting (AIFMM) 2022, an annual event that reviews the ASEAN-India partnership, in Phnom Penh, Cambodia’s capital.
ASEAN-India Foreign Ministers’ Meeting (AIFMM) 2022
i. AIFMM 2022 was co-chaired by EAM Dr. S. Jaishankar and H.E Dr. Vivian Balakrishnan, Singapore’s Foreign Minister, and attended by Foreign Ministers/representatives from other ASEAN member states.
ii.The meeting also emphasized the importance of adhering to the principles of the United Nations Convention on the Law of the Sea (UNCLOS) in the South China Sea region.
The Association of Southeast Asian Nations (ASEAN) was founded in 1967 with the signing of the ASEAN Declaration in Bangkok, Thailand (Bangkok Declaration).
Members – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam
On the sidelines of the AIFMM 2022, EAM Dr. S Jaishankar visited the 12th century heritage sites of Ta Prohm Temple and Angkor Wat Temple in Cambodia.

• The Archaeological Survey of India (ASI) is in-charge of the restoration and conservation work at these cultural heritage sites.

About Kingdom of Cambodia:
Prime Minister (PM) – Hun Sen
Capital – Phnom Penh
>> Read Full News

BANKING & FINANCE

Highlights of RBI’s 3rd Bi-monthly Monetary Policy of 2022-23; Repo Rate raised to 5.40%

i.The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) met on August 3-5, 2022 , and released the RBI’s 3rd bi-monthly monetary policy of FY23 which retained India’s real Gross Domestic Product (GDP) growth at 7.2% for the FY23, with FY23’s Q1 at 16.2%; Q2 at 6.2%; Q3 at 4.1%; and Q4 at 4%.
ii.The stance is to focus on withdrawal of accommodative.
iii.Real GDP growth for Q1FY24 is projected at 6.7%.
iv.The MPC raised the repo rate by 50 basis points to 5.40% from 4.90%. Consequently, Standing Deposit Facility (SDF) Rate adjusted to 5.15% and Marginal Standing Facility (MSF) rate and Bank Rate to 5.65%.
v.RBI in exercise of the powers conferred by sub section (1) of Section 11 of the Credit Information Companies (Regulation) Act, 2005, has included Credit Information Companies (CICs) aka credit bureaus, under the Reserve Bank Integrated Ombudsman Scheme (RB-IOS) 2021 w.e.f. September 1, 2022.
About Reserve Bank of India (RBI):
i.The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.
ii.The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937.
iii.Though originally privately owned, since nationalization in 1949, the Reserve Bank is fully owned by the Government of India.
>> Read Full News

SEBI Constitutes  15-member FPI Advisory Committee; Former CEA Appointed as ChairmanSecurities and Exchange Board of India (SEBI), the market regulator, has constituted a 15-member advisory committee, FPI (Foreign Portfolio Investment)Advisory Committee (FAC) to increase foreign investments and to simplify investment process in the capital markets.

• The committee will also take care of the increasing participation in the domestic bond markets.
• Former Chief Economic Advisor (CEA) KV Subramanian has been appointed as the Chairman of the committee.

About the committee:
i.Members – The committee consists of 14 members representing foreign banks, Reserve Bank of India (RBI) and stock Exchange depositories.

• Members of the committee include Harun R Khan, Deputy Governor (Retired), RBI, R. Subramanian, Executive Director, RBI, Padmaja  Chunduru,  MD  &  CEO,  National  Securities  Depository  Ltd. (NSDL) and Ashishkumar Chauhan, MD & CEO, National Stock Exchange of India Ltd. click here for the other members

iii.The committee will suggest ways to amend the existing rules to attract investments, enhance transparency and on issues related to custodians.
Note – SEBI has constituted a Standing Committee for facilitation of Foreign Portfolio Investments (FPI) to provide recommendations and advise SEBI on policy matters relating to FPI.
About Securities and Exchange of India (SEBI):
Chairperson – Madhabi Puri Buch
Establishment –  1992
Headquarters – Mumbai, Maharashtra

Dhanlaxmi Bank Limited signs pact with New Street Technologies for Micro Lending, Operation Management

Dhanlaxmi Bank Limited has signed an agreement with New Street Technologies Private Limited to facilitate micro lending, operations management, and technology services under Priority Sector Lending (PSL).

• New Street Technologies is the first fintech partner of the bank.

Key points:
i.New Street Technologies will provide the technical support to the bank on digital on-boarding and extend support as the business correspondent in micro-lending space to start the operations in southern states and other states of India.
ii.News Street Technologies will enhance the banking services and augment the bank to provide better customer connectivity and financial inclusion.
About Dhanlaxmi Bank Limited:
MD & CEO- J K Shivan
Headquarters-Thrissur, Kerala
Founded- 1927

HDFC Receives in-Principle Approval from SEBI to change the control of HDFC AMCSecurities and Exchange Board of India (SEBI), a Capital markets regulator has granted in-principle approval for change in control of HDFC Asset Management Company (AMC), a subsidiary of HDFC Limited, and the asset management company of HDFC Mutual Fund,due to change in co-sponsor of HDFC Mutual Fund, on account of proposed amalgamation of HDFC with and into HDFC Bank.

• This is subject to the approval of the National Company Law Tribunal (NCLT) under Sections 230-232 of the Companies Act.
• It has already received no-objection/approval from stock exchanges and RBI.
• The change in control will take place after the merging of HDFC Limited into HDFC bank.

Highlights:
i.Background – In April 2022, The Reserve Bank of India (RBI) and Pension Fund Regulatory and Development Authority (PFRDA) approved the merging of Housing Development Finance Corporation (HDFC) limited and HDFC Bank.
ii.HDFC AMC is the investment manager to the schemes of HDFC Mutual Fund.

• Currently, HDFC Limited and abrdn Investment Management Limited (erstwhile Standard Life Investments Limited) are the sponsors of HDFC Mutual Fund.

About Housing Development Finance Corporation (HDFC) Bank:
Managing Director & CEO – Shashidhar Jagdishan
Incorporated in 1994 & commenced operations as a Scheduled Commercial Bank in 1995.
Headquarters – Mumbai, Maharashtra

ECONOMY & BUSINESS

Google launches ‘India Ki Udaan‘ to mark 75 years of Independence

Google has launched an online project named “India Ki Udaan”, featuring the milestone achievements of India in its 75 years of Independence, at an event orgnised at the Sunder Nursery in New Delhi, Delhi in the presence of  Union Culture and Tourism Minister G Kishan Reddy.  The project is executed by the Google Arts & Culture and it is themed on the unwavering and undying spirit of India over these past 75 years.

• This pays tribute to India’s rich cultural history and includes iconic moments from the last 75 years. It is published in English and Hindi and allows users to explore around 120 illustrations and 21 stories created by 10 talented artists.
• Google also announced a series of special initiatives across its products and services that will offer content and experiences created especially to mark 75 years of India’s independence.     

APPOINTMENTS & RESIGNATIONS   

Unity Small Finance Bank appoints Inderjit Camotra as its MD &CEO

Unity Small Finance Bank Limited (Unity Bank) appointed Inderjit Camotra as its Managing Director (MD) and Chief Executive Officer (CEO). His appointment was approved by the Reserve Bank of India (RBI) and Unity Bank’s Board.

• In January 2022, the bank appointed Vinod Rai, the former CAG (Comptroller and Auditor General) of India, as its Chairman.

About Inderjit Camotra:
i.He is an IIT-Delhi graduate and completed his MBA from Clarkson University in New York. He has 25 years of experience in the field of banking.
ii.Earlier he served as an Executive Director with Centrum Financial Services Ltd.
iii.He also served in various leadership positions at Standard Chartered Bank, Australia and New Zealand (ANZ) bank and Citibank.
About Unity Small Finance Bank Limited (Unity Bank):
i.Unity Small Finance Bank was elevated to a ‘Scheduled Bank’ and was included in the Second Schedule of the Reserve Bank of India Act, 1934 vide Notification DoR.LIC.No.S543/16.13.216/2022-23 dated April 28, 2022 and published in the Gazette of India (Part III – Section 4) dated July 02-July 08, 2022.
ii.The bank is promoted by Centrum Financial Services Ltd and Resilient Innovations Pvt Ltd as joint investors.
Commenced  operation-2021
Headquarters- Mumbai, Maharashtra

ACC gives Cabinet Secretary Rajiv Gauba one-year ExtensionThe Appointments Committee of the Cabinet (ACC) has approved the extension in service of Rajiv Gauba as Cabinet Secretary for a further period of one-year beyond August 30, 2022.

• This is his second extension on the post.

Background:
In 2019, he was appointed as the Cabinet Secretary, India’s top bureaucratic post, for 2 years.
Earlier, he was granted a one-year extension in August 2021.
About Rajiv Gauba:
i.Rajiv Gauba, former Union Home Secretary is a 1982 batch IAS (Indian Administrative Services) officer from the Jharkhand cadre.
ii.He has served in various capacities in the Central government as well as in Jharkhand and Bihar governments.
iii.He has also served in the Home Ministry as the joint and additional secretary.
iv.He has also served as a part of the ministries of Defence, Finance, Environment and Forests, and the Department of Electronic and Information Technology.
v.He has also served as collector and district magistrate for 7 years in Gaya, Nalanda and Muzaffarpur.
vi.He has served as the Chief Secretary of Jharkhand for 15 months before returning to the central government in 2016.

• He served as the Resident Commissioner of Jharkhand, and as the District Magistrate and Collector of Gaya, Nalanda and Muzaffarpur districts, before bifurcation of Bihar in the Jharkhand government.

vii.He has also represented India on the board of the International Monetary Fund (IMF) for four years.

SCIENCE & TECHNOLOGY

Russia will withdraw from International Space Station project after 2024

Russia will pull out of the International Space Station after 2024 and focus on building its own orbiting outpost amid high tensions between Moscow and the West over the fighting in Ukraine.
i.NASA and other international partners will keep the space station running until 2030, while the Russians have been reluctant to make commitments beyond 2024.
ii.The space station is jointly run by the space agencies of Russia, the U.S., Europe, Japan and Canada. The first piece was put in orbit in 1998, and the outpost has been continuously inhabited for nearly 22 years.
Note- In July 2022, Yuri Borisov was appointed to lead the state space agency, Roscosmos, by Russia President Vladimir Putin.

SPORTS

India beat Bangladesh 5-2 to lift SAFF Under-20 Football Championship 2022

On 5 August 2022, India lifted the 2022 South Asian Football Federation(SAFF) Under-20 (U-20) football championship trophy by defeating Bangladesh 5-2 goals in the final match at Kalinga stadium in Bhubaneswar, Odisha.

• India won this championship for the second consecutive time.
• The SAFF U20 Championship 2022 is in its fourth edition of the championship.

Note: Nepal won the first two editions in 2015 and 2017 and India won the 2019 edition.
Highlights of the Match:
i.Striker Gurkirat Singh scored four goals as India beat Bangladesh 5-2 in extra time in the final to lift the SAFF U-20 Championship.
ii.Himanshu Jangra added another goal for team India in the match.
iii.For Bangladesh, Rajon Howladar and Shahin Mia scored one goal each.
vi.Both teams were locked 1-1 at the interval, and 2-2 after completion of regulation time.
Gurkirat Singh was named the Most Valuable Player of SAFF U20 championship 2022
i.Gurkirat Singh was named the Most Valuable Player of SAFF U20 championship 2022. He plays as a forward for the Indian Super League club Mumbai City FC.
He also won the highest Goal Scorer Award with eight goals.
ii.Indian goalkeeper  Som Kumar was named the Best Goalkeeper SAFF U20 championship 2022.

BOOKS & AUTHORS

Shyam Saran’s Book ‘How China Sees India and the World ‘ Traces Interaction Between India and China

Shyam Saran, an accomplished former diplomat who has spent some years in Beijing has written a book titled ‘How China Sees India and the World’ published by Juggernaut Books, New Delhi.

• The book reveals the India-China relationship, their similarities and differences, and how their perceptions of each other changed through the centuries.

From the book:
i.The book starts with the rise and fall of Buddhism and its spread through the trade routes that connected India to China and China to Europe through Central Asia.

• The book gives an interpretation of China’s history and its role in determining how it sees India and the world.

ii.China is our most important neighbour sharing boundaries across thousands of kilometres in the Himalayas which is also India’s second largest trading partner and now engaged in military actions.
iii.Cultural interactions – The author highlights the influence of Buddhism from India upon China and also stressed the fact that many Chinese scholars came to India to study in its famous ancient centres of learning including Takshashila and Nalanda.

• The author also specifies the maritime links with SouthEast Asia.

iv.Two other authors and colleagues of Shyam,  Natwar Singh and Nirupama Rao have also written about China in the books, My China Diary, and The Fractured Himalaya: India Tibet China 1949-62, respectively.
About the Author
Shyam Saran was born in 1946 and is a former Foreign Secretary, who joined the India Foreign service (IFS) in 1970 and has also served as the Prime Minister’s Special Envoy for Nuclear Affairs and Climate Change.

• He was also the former Chairman of the National Security Advisory Board(NSAB).

IMPORTANT DAYS

Hiroshima Day 2022 – August 6

Hiroshima Day is observed annually across Globe on 6th August in accordance to the remembrance of the world’s first atomic bomb attack on Hiroshima, Japan in 1945, at the end of World War II.

• 6th August 2022 marks the 77th anniversary of the Hiroshima bombings.

Background:
i.On 6th August 1945, the American bomber Boeing B-29 Superfortress Enola Gay dropped 5 ton atomic bomb, that is equivalent to 15,000 tons of TNT (trinitrotoluene), named ‘Little Boy’ on Hiroshima, Japan.

• Another bomb named, ‘Fat Man’ was dropped on Nagasaki of Japan on 9th August 1945.

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