Daily Current Affairs August 19 2022 | Latest News | Download PDF

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CURRENT AFFAIRS: IMPORTANT DAYS

World Humanitarian Day- August 19:

World Humanitarian Day is commemorated every year on 19 August to pay tribute to humanitarian workers killed and injured in the course of their work, and to honor all aid and health workers who continue, despite the odds, to provide life-saving support and protection to people most in need.

History:

The chief of Iraq’s humanitarian organization was among the 22 brutally killed when a bomb exploded at the Canal Hotel in Baghdad, Iraq, on August 19, 2003.
The UN General Assembly designated this day as World Humanitarian Day in 2009 to honor the bombing.

World Photography Day- August 19:

World Photography Day is observed on August 19 each year.
The annual celebration pays tribute to the art of photography and also encourages those who are passionate about it to come together and share their work.

History

The inception of this day dates back to 1837 when Frenchmen Joseph Nicephore Niepce and Louis Daguerre invented the ‘daguerreotype’ which was the world’s first-ever photographic process.
Two years later on January 9, 1939, the daguerreotype was officially endorsed by the French Academy of Sciences.
Seven months later on August 19, 1839, the French government is believed to have purchased the patent for the device.
They declared the invention of the daguerreotype as a gift to the world making it freely available to all and the day began to be marked as World Photography Day later on.
Photography has since then been evolving with developments and advancements in technology.
The first durable color photograph was captured in 1861 while the first digital photograph was created in 1957, two decades earlier than the invention of the digital camera.

CURRENT AFFAIRS: NATIONAL NEWS

Centre Launches Paalan 1000 National campaign and Parenting App:

Bharti Pravin Pawar, the Union Minister of State for Health, introduced the Parenting App and the Paalan 1000 national campaign in Mumbai.
To lower the child mortality rate and provide for infants throughout their first 1000 days after birth, the Paalan 1000 National campaign and Parenting App were launched.
The program was virtually launched by the Union Minister of State for Health.
Bharti Pravin Pawar spoke at the launch event and noted that India has made tremendous progress in lowering the child death rate since 2014, when it was 45 per 1000 live births, to 35 per 1000 live births in 2019.

PM has announced ‘Panch Pran’ goal for the next 25 years:

Prime Minister Shri Narendra Modi addressed the country for the ninth time straight from the Red Fort.
Prime Minister Modi laid out his “Panch Pran Targets” (Five Resolves) to transform India into a developed nation by the time it marks its 100th Independence Day in 25 years.
The Panch Pran Goal was brought up by the prime minister.
According to the Panch Pran, recognized Indian criteria include sanitation campaigns, immunizations, electrical connections, the removal of open defecation, and the use of solar energy.
According to PM Modi, when the nation celebrates 100 years of independence in 2047, these five resolutions (Panch Pran) will be important for a developed country.
One of these five resolutions is the prime minister’s vision of “Vishwaguru India” (Panch Pran).
PM Modi wants to make India into the “Vishwaguru” as soon as the country celebrates 100 years of freedom.

India voluntary trust funds for the defense of human rights more than Rs 3 crore:

The Permanent Mission of India to the United Nations in Geneva has announced that India has contributed $400,000 (more than Rs 3 crore) to as many as four Voluntary Trust Funds.
It continued by stating that the gift to the Voluntary Trust Funds was given to demonstrate India’s dedication to the promotion and defense of human rights on a worldwide scale as well as its support for the UN Human Rights Council.
India has given $400,000 to 4 Voluntary Trust Funds on Torture, Technical Cooperation, and Implementation of UPR & LDCs/SIDS, demonstrating our dedication to the global promotion & protection of human rights as well as our support for @UNHumanRights.
The Voluntary Trust Funds donated by India are for torture victims, technical help, and financial and technical support for the Universal Periodic Review’s implementation.
Additionally, India contributed volunteer technical assistance and voluntary trust funds to encourage participation by least developed nations (LDCs).
The four trust funds to which donations have been made in the council’s activities are known as Small Island Developing States (SIDS).

CURRENT AFFAIRS: INTERNATIONAL NEWS

UK becomes the first country to approve COVID-19 booster vaccine targeting Omicron strains

The United Kingdom (UK) has become the first country to approve Moderna’s “bivalent” COVID-19 vaccine that targets both the original strain of COVID-19 and the newer Omicron variant.
The Medicines and Healthcare products Regulatory Agency (MHRA) had approved the Moderna vaccine as a “sharpened tool” against the novel coronavirus after it was found to meet its standards of safety, quality and effectiveness.
The UK’s independent Joint Committee on Vaccination and Immunization (JCVI) will now advise on how this new vaccine should be rolled out as part of the country’s booster vaccine deployment program.
The vaccine has also been submitted for approval with the authorities in Australia, Canada, and the European Union (EU).

About Moderna :

Founded: September 2010
Headquarters: Cambridge, Massachusetts, U.S
President: Stephen Hoge
CEO Stephane Bancel

About the UK :

Prime minister: Boris Johnson
Capital: London
Currency: Pound sterling

CURRENT AFFAIRS: STATE NEWS

MP’s Mandla becomes India’s 1st fully ‘functionally literate’ district

Madhya Pradesh’s tribal-dominated Mandla region has become the first fully “functionally literate” district in Indi*a.
The declaration was made by the state minister of food and civil supplies Shri Bisahulal Singh.
Within two years, the entire district has become functionally literate, claiming that people were able to write their names, count, and read.
The district administration launched a campaign in 2020 to make the residents fully literate.
For this purpose, the administration employed the education, and women and child development departments along with social workers to educate the people.
The literacy rate in Mandla was 68% as per a survey in 2011, while in 2020 it was pointed out that over 2.25 lakh people were not literate in the district and most of them were tribals living in the forest areas.

About MP :

Governor: Mangubhai C. Patel
Chief Minister: Shivraj Singh Chouhan
Capital: Bhopal

CURRENT AFFAIRS: BANKING & FINANCE

SBI launches its first dedicated branch for start-ups in Bengaluru

State Bank of India (SBI) has launched its first branch dedicated to start-ups in Koramangala, Bengaluru, and Karnataka.

Aim :

To provide end-to-end financial and advisory services to startups.
The branch launched by SBI Chairman Mr. Dinesh Khara is located in Koramangala, which alongside neighboring HSR Layout and Indiranagar are the biggest start-up hubs in Bengaluru, Karnataka.
After Bengaluru, the next branch will be opening in Gurgaon, Haryana and the 3rd one will be in Hyderabad, Telangana.

Key Highlights :

It will leverage the large presence of the bank in the market by bringing synergy among all the entities and various departments of the State Bank group to offer a one-stop solution to these corporates and startups starting from the formation of the entity till Initial Public Offerings (IPOs) & Follow on Public Offers (FPOs) of the companies.
It would be provided to all the requirements of the private equity (PE) and venture capital (VC) funds and the Alternative Investment Funds (AIFs)
The SBI has also entered into MOUs with the Karnataka government’s initiatives like Karnataka Innovation and Technology Society (KITS) and Karnataka Digital Economy Mission (KDEM) to support the entire startup ecosystem in Karnataka.

About SBI :

Established: 1 July 1955
Headquarters: Mumbai, Maharashtra, India
Chairman: Dinesh Kumar Khara

Axis Bank signs MOU with Food Corporation of India

Axis Bank, India’s third largest private sector bank, has signed a Memorandum of Understanding (MoU) with Food Corporation of India (FCI) to provide “Ultima Salary Package”, a best-in-class salary account with exclusive benefits & features to all its employees.
The signing ceremony was held at FCI Headquarters, New Delhi where FCI was represented by Shri G. N Raju, GM HQ, and Axis Bank was represented by Shri Anil Agarwal, President, Financial Institutions Group & Lt Col M.K Sharma, National Accounts Head.

About the MoU :

With this MoU, the Bank has reinstated its commitment to offering holistic banking services to the employees of the Public Sector Undertakings (PSU) sector.

Benefits of the MoU :

Personal Accidental cover of up to 20 lakhs
Additional Education Grant up to 8 lakhs
Total Permanent Disability Cover benefit up to 20 lakhs
Permanent Partial disability cover of up to 20 lakhs
Air Accident cover of Rs. 1 Crore
Free additional debit card for a family member
12 EMI waiver on Home loan
3 zero balance accounts for a family member
Universal account number wherein all Axis Bank branches will function as a “Home branch”

About Axis Bank :

Founded : 3 December 1993
Headquarters: Mumbai, Maharashtra, Indi
MD & CEO: Amitabh Chaudhry

About FCI :

Founded: 14 January 1965
Headquarters: New Delhi, Delhi, India
It is under the ownership of the Ministry of Consumer Affairs, Food and Public Distribution, GoI formed by the enactment of the Food Corporation Act, 1964 by the Parliament of India.

RBI opens Bharat Bill Payment System for NRIs to pay bills

Reserve Bank of India (RBI) Governor Mr. Shaktikanta Das announced Bharat Bill Payment System (BBPS) to facilitate inward gross payments for Non-Resident Indians (NRIs) to pay bills in India.
This move will enable non-resident Indians (NRIs) to pay any bill, like insurance, electricity, and other utilities, on behalf of their families in India.
The BBPS is an interoperable platform for standardized bill payments.
This is being provided to ease of payment for many families, especially senior citizens who find it difficult to make their payments and whose children reside abroad.
Over 20,000 billers are part of the system, and more than 8 crore transactions are processed every month.
At present, BBPS is accessible only to Indian residents.

About BBPS :

Founded: 2013
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, and wallets.

About RBI :

Established: 1 April 1935
Headquarters: Mumbai, Maharashtra, India
Governor : Shaktikanta Das

Deputy governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi Shankar

CURRENT AFFAIRS: BUSINESS NEWS

The wholesale Price Index (WPI) declines to 13.93% in July:

The Wholesale Price Index (WPI)-based inflation rate in India reduced to 13.93% in July, according to data released by the commerce ministry.
From a record-breaking 16.63 percent in May to 15.18 percent in June, the WPI inflation rate decreased.
Inflation measured by the Wholesale Price Index (WPI) was 11.57 percent in July 2021.
The wholesale price index grew by double digits in July, making it the WPI’s 16th month in a row to grow by more than 10%.
The Wholesale Price Index decreased in July due to a decline in food inflation, which was down 300 basis points from June to 9.41%. (WPI).
Vegetables saw a notable monthly price decline of 12.7% among food items.
Eggs, pork, and fish all had a 2.6 percent decline from June while the index for fruits fell by 3.0 percent.
Overall, the food index fell 2.2 percent in July compared to June, accounting for 24 percent of the WPI basket.
The entire-commodity index of the Wholesale Price Index (WPI) therefore fell by 0.1 percent from June.

Centre Approves Limit of ECLGS to 5 Lakh Crore:

The Emergency Credit Line Guarantee Scheme (ECLGS) limit was increased by Rs 50,000 crore to Rs 5 lakh crore with the approval of the Union Cabinet, with the additional sum being reserved exclusively for businesses in the hospitality and associated industries.
ECLGS is an ongoing scheme, and the additional sum of Rs. 50,000 crores will be made available to firms in the hospitality and adjacent sectors till the plan’s expiration date of March 31, 2023.
The improvement is anticipated to give these industries’ businesses the much-needed relief they require by encouraging lending institutions to extend low-cost extra credit of up to Rs 50,000 crore, allowing them to satisfy their operational obligations and carry on with their operations.
Up till August 5, loans under the ECLGS totaled roughly Rs. 3.67 billion crores.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Kenya’s Deputy President Mr. William Ruto wins the presidential race

Kenya’s Deputy President Mr. William Samoei Arap Ruto won the presidential election in 2022 after defeating Raila Odinga garnered 7176,141 votes or 50.49 percent of the total votes.
He will be succeeding Uhuru Kenyatta.
With this, William Ruto becomes the 5th President of Kenya.

About Mr. William Ruto :

William Ruto was born on 21 December 1966 in Sambut village, Kamagut, Kenya.
He was a Member of Parliament (MP) from 1998 to 2013.
He served as Minister for Home Affairs in the Daniel Arap Moi administration from August to December 2002.
He later served in the Mwai Kibaki administration as Minister of Agriculture from 2008 to 2010 and as Minister for Higher Education from April to October 2010.
He has been serving as the deputy president of Kenya since 2013.

About Kenya :

President: Uhuru Kenyatta
Capital: Nairobi
Currency: Kenyan shilling

FSIB recommends Mr. Mohammad Mustafa as NABARD Chairman

The Financial Services Institutions Bureau (FSIB) has recommended Mr. Mohammad Mustafa for the post of National Bank for Agriculture and Rural Development (NABARD) Chairman.
The final decision on the recommendation of FSIB would be taken by the Appointments Committee of the Cabinet, headed by Prime Minister Shri Narendra Modi.

About Mohammad Mustafa :

Mustafa is a 1995 batch IAS officer of the Uttar Pradesh cadre.
He served as the Chairman & Managing Director (CMD) of the Small Industries Development Bank of India (SIDBI).
He had served as a Joint Secretary in the Department of Financial Services and also as a
He also served as CMD of the National Housing Bank (NHB) between 2014-15 and as MD of CERSAI in

About NABARD :

Established: 12 July 1982
Headquarters: Mumbai, Maharashtra, India
NABARD is the apex regulatory body for the overall regulation of regional rural banks and apex cooperative banks in
It is under the jurisdiction of the Ministry of Finance, GoI.

Bajaj Electricals elevates Mr. Anuj Poddar as MD & CEO

Consumer durable products maker Bajaj Electricals elevated it’s Executive Director Mr. Anuj Poddar to Managing Director (MD) and Chief Executive Officer (CEO).
Anuj Poddar joined Bajaj Electrical in 2018 as its executive director.
Meanwhile, Shekhar Bajaj shall continue as executive chairman of Bajaj Electricals.

About Bajaj Electricals :

Founded: 14 July 1938
Headquarters: Mumbai, Maharashtra, India
Bajaj Electricals Ltd is an Indian consumer electrical equipment manufacturing company.
It is a part of the business conglomerate Bajaj Group.

Center Appoints Mr. Rajkiran Rai as NaBFID Managing Director

The Centre and the board of National Bank for Financing Infrastructure and Development (NaBFID) have appointed Rajkiran Rai G as its managing director (MD) for five years (2022-2027)
He was the Managing Director (MD) & Chief Executive Officer (CEO) of Union Bank of India from
In October 2021, the Center appointed K V Kamath as chairperson of NaBFID for three years.
Subsequently, government nominees Pankaj Jain and Mr. Sumita Dawra were appointed directors to the board of Development Finance Institution (DFI).

CURRENT AFFAIRS: ACQUISITIONS & MERGERS

Competition Commission of India approves merger of HDFC Bank & HDFC Ltd

Fair trade regulator Competition Commission of India (CCI) has approved the merger proposal of HDFC Bank, India’s Largest Private Sector Bank & its parent HDFC Ltd, India’s Largest Housing Finance Company.
The proposed combination involves the amalgamation of HDFC Limited, HDFC Bank, HDFC Investments, and HDFC Holdings.
The proposed combination envisages a two-step amalgamation process:
Step 1: Amalgamation of HDFC Investments and HDFC Holdings into and with HDFC Limited, such that HDFC Limited will be the surviving entity post this step
Step 2: Amalgamation of the amalgamated HDFC Limited into HDFC Bank, such that HDFC Bank will be the surviving entity post this step.

About CCI :

Established: 14 October 2003
Headquarters: New Delhi, Delhi, India
Chairman: Ashok Kumar Gupta
Secretary: Ashok Kumar Gupta
CCI is the chief national competition regulator in India.
It is a statutory body within the Ministry of Corporate Affairs.

CCI clears acquisition of Holcim’s stake in Holderind, ACC Ltd & Ambuja by Endeavour

The Competition Commission of India (CCI) approves the acquisition of the stake in Holderind Investments Limited, Ambuja Cements Limited, and ACC Limited by Endeavour Trade and Investment Limited.
The proposed combination envisages the acquisition of the entire share capital of Holderind Investments Limited (Holderind) by Endeavour Trade and Investment Limited (Endeavour).
Holderind holds 63.11% of the equity share capital of Ambuja Cements Limited (Ambuja) and 4.48% of the equity share capital of ACC Limited (ACC).
Further, Ambuja holds 50.05% of the paid-up equity share capital of ACC.
In terms of the Securities and Exchange Board of India (SEBI) Endeavour is required to launch an open offer for further acquisition of up to 26% of the expanded share capital of Ambuja and ACC.
Endeavour is a newly incorporated company and belongs to the Adani group.
Holderind is a holding company of Ambuja and ACC.
Ambuja and ACC are engaged in the manufacture of cement in India.

CCI approves acquisition of majority shareholding in ODPL by Sekhmet; ODPL’s acquisition of a shareholding in OPPL & OLSPL

The Competition Commission of India (CCI) approves the acquisition of majority shareholding in Optimus Drugs Private Limited (ODPL) by Sekhmet Pharmaventures Private Limited (Sekhmet) and ODPL’s acquisition of a shareholding in Optimus Pharma Private Limited (OPPL) and Optimus Life Science Private Limited (OLSPL) under Section 31(1) of the Competition Act, 2002.
Sekhmet is a private company engaged in providing management services to its subsidiary, Anjan Drugs Private Limited (Anjan).
Anjan is engaged in the manufacture and sale of active pharmaceutical ingredients (APIs) and pharmaceutical intermediates in India and abroad.
Sekhmet belongs to the PAG group, a group that is a leading alternative investment firm focused on APAC, with a combination of three core strategies – Credit & Markets, Private Equity, and Real Assets.

About ODPL :

ODPL is engaged in the manufacture and sale of APIs and pharmaceutical intermediates in India.
It is engaged in the manufacture and sale of finished dosage formulations (FDFs), as well as providing contract development and manufacturing (CDMO) services for FDFs in India.

About OLSPL :

OLSPL is engaged in the marketing of FDFs for its group companies in India.

CCI approves the acquisition of a stake in IIFL Home indirectly by ADIA Group

The Competition Commission of India (CCI) has approved the acquisition of a stake in IIFL Home indirectly by Abu Dhabi Investment Authority (ADIA).
The proposed transaction relates to the acquisition of up to 20 percent stake in IIFL Home Finance by Platinum Owl C 2018 RSC Ltd, a trustee acting for Platinum Jasmine Trust.
ADIA is the sole beneficiary and settlor of the Platinum Jasmine Trust.
In June 2022 IIFL Home Finance, a subsidiary of IIFL Finance Ltd, had entered into definitive agreements for raising Rs 2,200 crore of primary capital for a 20 percent stake from a wholly-owned subsidiary of ADIA.

About IIFL Home :

IIFL Home is a housing finance company registered with the National Housing Bank.
It is a wholly-owned subsidiary of IIFL Finance Limited.
It is engaged in providing loans for the purchase, construction, and renovation of homes; small and medium enterprise secured loans for business; and construction finance loans to builders and developers engaged in the construction of affordable homes.

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

Principal Scientific Adviser to the GoI unveils Manthan

The Office of the Principal Scientific Adviser (PSA) to the Government of India (GoI)has launched a Manthan platform with the vision to enable and empower all spheres of science and technology within India.