Daily Current Affair
04 September 2022
Sports
1. Pallathuruthy Boat Club wins 68th edition of Nehru Trophy Boat Race
- Pallathuruthy boat club has won the 68th edition of Nehru Trophy for a boat race, was organised on Punnamada lake, Alappuzha district of Kerala.
- 'Mahadevikkadu Kattil Thekkethil’ by Pallathuruthy boat club won the trophy.
- While NCDC Boat club’s ‘Nadubhagam’ of Kumarakam has secured the second place in the race.
- The boat of Pallathuruthy boat club has won the title by clearing the distance of 1.15 km in 4.30.77 minutes.
- This is the third time that Pallathuruthy won trophy.
State Affairs
2. APEDA and Manipur organize in-store export promotion show for pineapples
- The Agricultural & Processed Food Products Export Development Authority (APEDA) has organized an in-store export promotion programme of Manipur’s pineapples in Dubai, UAE.
- Aim: To promote locally produced agricultural products in the international markets.
- Manipur Organic Mission Agency (MOMA) has supported the sourcing of organic certified Kwe variety of pineapples.
- Top five importing countries of Indian pineapples: UAE, Nepal, Qatar, Maldives, USA
Summits & Conferences
3. Home Minister, Amit Shah inaugurated the 6th All India Prison Duty Meet
- Union Home Minister, Amit Shah has inaugurated 6th All India Prison Duty Meet in Ahmedabad, Gujarat.
- It is a biennial event, organised by the Bureau of Police Research and Development.
- The event was attended by Gujarat Chief Minister, Bhupendra Patel and Minister of State for Home, Harsh Sanghavi.
- AIPDM was last organised in Ahmedabad in 2007, It was the second ever meeting
- He has also participated in the closing ceremony of 11th Khel Mahakumbh at TransStadia, Kankaria
Obituaries
4. Former Tata Sons chairman, Cyrus Mistry passes away
- Former chairman of Tata Sons and scion of the Shapoorji Pallonji group, Cyrus Mistry (54) has been passed away in a car accident.
- He had served as the chairman of the Tata group in 2012, he succeeded Ratan Tata.
- He was the sixth chairman of the Tata group and second chairman who did not have the Tata surname.
- He joined the Tata Sons board as a director in 2006.
- The Mistry family owns an 18.4% stake in Tata Sons, while the Tata Trusts own a 66% stake in the company.
Banking & Finance
5. India’s forex reserves decline by $3 billion to $561 billion
- As per the official data of RBI, India's foreign exchange (forex) reserves has been declined to $561 billion in the week ending August 26, 2022.
- India's FER has declined sharply in recent months as the RBI continues to intervene in the currency markets to defend the rupee.
- The value of gold reserves also fall down by $271 million to $39.643 billion during the week ended August 26.
- The value of India’s SDRs with IMF has also declined by $155 million to $17.832 billion.
State Affairs
6. Karnataka govt launches global startup challenge
- The Karnataka government has launched a Global Startup Challenge named VentuRISE.
- Aim: To support growth stage startups in manufacturing and sustainability-related sectors.
- VentuRISE, it will be a part of the Global Investors Meet - Invest Karnataka 2022 that will be held from 2 - 4 November in Bengaluru.
- Cash prize: $ 100,000
- The global challenge will help entrepreneurs to showcase their innovative products or solutions and connect with potential investors.
Agreement
7. BEL, Smiths Detection India sign MoU to manufacture scanning systems
- Bharat Electronics Limited (BEL) has signed an MoU with Smiths Detection for offering advanced, high-energy scanning systems to the Indian market.
- The MoU will leverage the high-end, technological capabilities of both the firms to meet India’s domestic security needs.
- The MoU was signed in line with the Indian Government’s ‘Make in India’ initiative.
- About BEL
- HQ: Bengaluru
- Founded: 1954
- Chairman and MD: Anandi Ramalingam
- It has been granted Navratna status.
Banking & Finance
8. Sebi restructured panel on cyber security
- The Securities and Exchange Board of India has restructured its panel on cyber security that recommends measures to safeguard the capital markets from such attacks.
- The committee will be chaired by Navin Kumar Singh, DG at National Critical Information Infrastructure Protection Centre (NCIIPC)
- Earlier, The committee had only four members but now it has six members.
- Other members: Sanjay Bahl, H Krishnamurthy, Sandeep Shukla and Debdeep Mukhopadhyay, Sugata Gangopadhyay
National Affairs
9. Union Minister Nitin Gadkari unveils India's first LNG-fuelled green truck
- Union Minister of Road Transport and Highways, Nitin Gadkari has inaugurated India’s first Liquefied Natural Gas (LNG) fuelled green truck in Chakan near Pune.
- It was manufactured by the Blue Energy Motors, a start-up backed by a Singapore-based firm.
- The trucks are powered by Iveco FPT, global powertrain brand of Iveco Group.
- The engines of truck generate high torque and help trucks deliver best in class TCO (total cost of ownership).
Banking & Finance
10. RBI launches pilot project to digitise Kisan Credit Card
- The Reserve Bank of India (RBI) has launched a pilot project for end-to-end digitization of Kisan Credit Card (KCC) lending.
- The pilot has been developed by the central bank and its subsidiary Reserve Bank Innovation Hub (RBIH).
- Objective: To make it more efficient and reduce costs for borrowers.
- States for pilot project: Madhya Pradesh and Tamil Nadu with Union Bank of India and Federal Bank, respectively
- KCC scheme was introduced in 1998.
International Affairs
11. India become world's fifth largest economy
- The change in ranking has pushed the United Kingdom to the sixth spot
- The Indian economy is forecast to grow more than 7 per cent this year.
- MF’s own forecasts show India overtaking the UK in dollar terms on an annual basis this year
According to the International Monetary Fund, these are the highest ranking countries in the world in nominal GDP:
1.United States (GDP: 22.49 trillion)
2.China (GDP: 16.4 trillion)
3.Japan: (GDP: 5.27 trillion)
4.Germany: (GDP: 4.30 trillion)
5.India: (GDP: 3.21 trillion)
6.United Kingdom: (GDP: 3.2 trillion)
7.France: (GDP: 2.78 trillion)
8.Italy: (GDP: 2.07 trillion)