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Daily Current Affairs 04-August-2022

Daily Current Affairs

1. India and the US to hold mega military exercise in Uttarakhand in October

• The 18th edition of India and US mega military exercise “Yudh Abhyas” will be held in Auli, Uttarakhand from October 14 to 31, 2022.
• Aim: To build the understanding, cooperation and interoperability between the two armies.
• The 17th edition of the exercise was held in Alaska in US.
India – the US ties:
• The US has designated India a “Major Defence Partner” (2016).
• India and the US sealed Basic Exchange and Cooperation Agreement (BECA) in 2020.

Foot Notes: About US: Capital: Washington, D.C. President: Joe Biden Currency: United States Dollar

2. Suresh N Patel Sworn-in as the Central Vigilance Commissioner

• Vigilance Commissioner, Suresh N Patel has been appointed as the Central Vigilance Commissioner, after a post fell vacant for a year.
• He has been working as the acting Central Vigilance Commissioner since June 2022.
• CVC Patel has administered the oath of office to Arvind Kumar (former IB chief) and Praveen Kumar Srivastava (ex-IAS officer) as vigilance commissioners.
• The tenure of a CVC and vigilance commissioner: Four years or till attains the age of 65 years.

3. India to host a special meeting of UNSC members on counter-terrorism in Oct

• India will host the special meeting of United Nations Security Council (UNSC) on counter-terrorism on October 29, 2022.
• The tenure of India as a non-permanent member at the UN Security Council will be ended on December 2022.
• Theme: Mindful of the increasing threat posed by the misuse of new and emerging technologies
• Non-permanent members: Albania, Brazil, Gabon, Ghana, India, Ireland, Kenya, Mexico, Norway and the UAE
• India’s envoy to the UN: Ruchira Kamboj

Foot Notes: About UNSC: Headquarters: New York, United States Founded: 24 October 1945

4. PSBs write off loans worth Rs 10 lakh crore in last 5 years

• Banks have written off loans worth of Rs 10 lakh crore in the last five financial years (2017-18 to 2021-22).
• The write-off amount has come down to Rs 1,57,096 crore (2021-22) as compared to Rs 2,02,781 crore (2020-21).
• In 2019-20, the write-off has also come down from Rs 2,36,265 crore to Rs 2,34,170 crore.
• The commercial banks and financial institutions have reported credit information of all borrowers having aggregate credit exposure of Rs 5 crore and above to RBI.

5. RBI’s March financial inclusion index shows growth in all segments

• The financial inclusion (FI) index of Reserve Bank of India’s (RBI) has increased to 56.4 in March 2022 from 53.9 in March 2021.
• It shows growth in across all sectors across the country.
• Financial inclusion index was constructed to capture the extent of financial inclusion across the country.
• Sectors: Banking, investments, insurance, postal, pension sector
• This index has been created without any base year, and published in July every year.

Foot Notes: About RBI: Founded: 1 April 1935, Kolkata Governor: Shaktikanta Das Headquarters: Mumbai

6. Bangladesh signs MoU with IOCL for emergency supply of petroleum goods

• The Indian Oil Corporation Limited (IOCL) has signed an MoU with the Bangladesh Roads and Highways department in Dhaka for the emergency supply of petroleum goods.
• As per the MoU, the petroleum tankers will enter from Meghalaya and will go to Tripura crossing through the Bangladesh territory.
• The IOCL will carry all the administrative fees, charges and local taxes including road usage fee for use of the Bangladeshi territory.
• IOCL Chairman: Shrikant Madhav Vaidya

Foot Notes: About Bangladesh: Capital: Dhaka Currency: Bangladeshi taka President: Mohammad Abdul Hamid Prime Minister: Sheikh Hasina

7. India’s Trade Deficit triples to a record $31 Billion in July

• The Trade deficit of India has been increased to $31 Billion in July 2022, with decline in exports and an increase in imports.
• According to the data released by the commerce ministry, the merchandise exports have been declined to a five-month low at $35.2 billion in July 2022 while imports eased sequentially to $66 billion.
• It has almost tripled from USD 10.63 billion in the same month of the previous fiscal.
• Minister of Commerce and Industry: Piyush Goyal

8. IFS officer Shweta Singh appointed as Director in PMO

• IFS Shweta Singh, a 2008-batch IFS officer, has been appointed as a director in the Prime Minister’s Office (PMO).
• Her appointment has been approved by the Appointments Committee of the Cabinet (ACC) for a period of three years from the date of her joining.
• The ACC has also cancelled the appointment of Aniket Govind Mandavgane, a 2009-batch IFS officer, as the Deputy Secretary in the PMO, who was appointed on July 18.

9. GST e-invoicing mandatory for entities with Rs 10 cr turnover from Oct 1

• The government has lowered the mandatory turnover threshold from Rs 20 crore to Rs 10 crore under the Goods and Services Tax (GST) regime from October 1, 2022.
• Aim: Digitising a higher volume of transactions, transparency in sales reporting, reducing errors and mismatches, automating data entry work, and improving compliance.
• E-invoicing (electronic billing) has been started in October 2020.
• GST Day: July 1

10. Indian Judoka Tulika Maan won silver in 2022 CWG

• Indian Judoka, Tulika Maan has claimed a Silver medal in women’s 78 kg category at Commonwealth Games 2022 in Birmingham.
• This is India’s third medal in Judo this Commonwealth Games.
Other winners:
• Indian weightlifter, Gurdeep Singh won a bronze medal in the men’s 109-plus kg final.
• Indian Saurav Ghosal won a bronze medal in squash men’s singles.
• India’s Tejaswin Shankar won bronze, India’s first medal in athletics at CWG 2022 in the men’s high jump.

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