Daily Current Affairs August 02

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs August 02. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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August 02| Daily Current Affairs 2022

Sports – Daily Current Affairs August 02

1. Punjab government announcedhow many lakhs cash award for CWG bronze medallist lifter Harjinder?
A) Rs 40 lakhs
B) Rs 30 lakhs
C) Rs 50 lakhs
D) Rs 20 lakhs
E) Rs 35 lakhs
Answer: A) Rs 40 lakhs

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2. Government sanctionedhow many sports infrastructure projects of various types across the country?
A) 300
B) 450
C) 300
D) 250
E) 400
Answer: C) 300

• The Union Government said that a total of 189 centres, including National Centres of Excellence, Sports Authority of India (SAI) Training Centres and their Extension Centres are functional for the implementation of the Sports promotional schemes of SAI.
• About 8,119 talented sports persons including 3,146 girls are being trained in 28 sports disciplines on a residential and non-residential basis at these centres.
• The government has sanctioned 300 sports infrastructure projects of various types across the country.

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Banking and Finance – Daily Current Affairs August 02

3. Bank of Baroda positive pay rule for cheques valuedabove how many lakhs?
A) Rs 4 lakhs
B) Rs 3 lakhs
C) Rs 1 lakh
D) Rs 2 lakhs
E) Rs 5 lakhs
Answer: E) Rs 5 lakhs

• From August 1, 2022, customers of Bank of Baroda must electronically verify vital information about cheques valued more than Rs 5 lakh to the bank for authentication before they can be paid out.
• Positive Pay confirmation is proposed to be made mandatory for cheques issued for Rs.5.00 lacs & above.
• That means, cheques issued for these values shall be returned in the clearing/Intersol without payment, if positive pay confirmation is not provided on or after 01.08.2022.

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4. Punjab & Sind Bank decided to reduce NPA fall below how many percent by end of FY23?
A) 25%
B) 10%
C) 15%
D) 19%
E) 20%
Answer: B) 10%

• The focus for Punjab & Sind Bank is to reduce its bad loans and improve recoveries to ensure that gross non-performing assets fall below 10% by the end of FY23.
• We are also carrying out aggressive recovery drives and expect to recover 25 billion rupees ($317.91 million) worth of loans in this financial year.
• The bank will also be transferring bad loans worth over five billion rupees to national bad bank which will also help to trim toxic assets.
• Gross non-performing assets for the bank for the June quarter was at 11.34%, higher compared to its peers.
• At a system level too, bad loans have been coming down and was at a six-year low of 5.9% in March 2022 which the country’s central bank expects to decline further.
• The bank’s gross advances grew by 7%, while deposits inched up by only 3% in the quarter ended June.
• To improve deposit growth the lender has launched new products at competitive rates and may hike rates in deposits further in the coming weeks.

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5. Which of the following bank launched Union Prerna 2.0?
A) HDFC Bank
B) Axis Bank
C) ICICI Bank
D) Union Bank of India
E) SBI
Answer: D) Union Bank of India

• Union Bank of India, launched an Industry-first, dedicated, men-focused Committee ‘EmpowerHim’ as part of its flagship HR initiative ‘Prerna’.
• The program aims to promote the employees’ career trajectory and improve diversity in the Bank by picking out and resolving individual as well as common existing challenges.
• This Committee will complement the women focused; Empower Her Committee launched by the Bank earlier in July 2022.
• Union Prerna is the HR Transformation initiative of Union Bank of India, aimed at improving productivity through digitalization of processes, employee centric interventions and learning revolution within the Banking space.
• Launched by Ms. A Manimekhalai, MD&CEO, Union Bank of India.

Union Bank expects to recover Rs 15,000 crore from bad loans this fiscal:

• Union Bank of India expects to recover Rs 15,000 crore from bad loan accounts during the current fiscal year, and a bulk of this would come from accounts undergoing insolvency resolution process.
• It expects to make recoveries worth Rs 10,000 crore from accounts under the National Company Law Tribunal (NCLT) for resolution of bad loans in 2022-23, the bank said during an analysts conference call post June 2022-23 quarter earnings announcement last week.

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6. Which of the following banksigned MoU with IISc Bengaluru?
A) HDFC Bank
B) Axis Bank
C) ICICI Bank
D) Union Bank of India
E) SBI
Answer: A) HDFC Bank

• HDFC Bank Parivartan signed a memorandum of understanding with the Indian Institute of Science, pledging Rs 107.76 crore for construction of Bagchi-Parthasarathy Hospital at IISc Bengaluru.
• The three wings of the hospital to be supported by the bank are cardiology, radiology and emergency medicine.
• IISc is setting up a multi-speciality, not-for-profit, 832-bed hospital, called the Bagchi-Parthasarathy Hospital along with a Postgraduate Medical School within its Bengaluru campus.
• The hospital is expected to be fully functional by the end of 2024 while the first batch of MD/PhD students will be admitted in 2025.

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Business and Economy – Daily Current Affairs August 02

7. India’s Real GDP growth in FY22 is how many percent?
A) 8.5%
B) 8.6%
C) 8.7%
D) 8.4%
E) 8.9%
Answer: C) 8.7%

• According to the provisional estimates released by the National Statistical Office (NSO), the Indian economy in 2021-22 has fully recovered from the pre-pandemic real GDP level of 2019-20.
• The real GDP growth in 2021-22 stands at 8.7 per cent, 1.5 per cent higher than the real GDP of 2019-20.
• The Government’s recent initiatives such as an increase in customs duty on gold imports from 10.75 per cent to 15 per cent, imposition of cess of Rs. 17,000 per tonne(by way of special additional excise duty-SAED) on domestic crude and SAED / cess on exports of diesel and aviation turbine fuel shipments at the rate of Rs 11 per litre and Rs 4 per litre, are likely to have a positive impact on Government’s tax collections.
• GST collections in the first quarter of 2022-23 registered a growth of 36.4 per cent compared to the corresponding period of the previous year, indicating a stronger revenue position of the Government.

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8. How many crore income tax returns filed for FY22?
A)4.76 crore
B) 5.83 crore
C) 2.96 crore
D) 6.12 crore
E) 7.38 crore
Answer: B) 5.83 crore

• The Income Tax Department has received about 5.83 crore tax returns, largely from salaried and individual category taxpayers, by the end of the financial year 2021-22 filing season on July 31.
• The latest numbers are about the same as the last fiscal (2020-21).
• The due date for filing of income tax returns (ITRs) by salaried class and individual category taxpayers, who do not have to get their accounts audited for the fiscal ending March 31, 2022, was July 31.

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9. GST registered businesses with annual turnover of how many crore have to generate e-invoices for B2B transactions from October 1?
A) Rs 30 crore
B) Rs 15 crore
C) Rs 25 crore
D) Rs 10 crore
E) Rs 20 crore
Answer: D) Rs 10 crore

• GST registered businesses with annual turnover of Rs 10 crore or more will have to generate e-invoices for B2B transactions from October 1.
• Currently, businesses with turnover of Rs 20 crore and above are required to generate electronic invoice for all B2B transactions.
• The Central Board of Indirect Taxes and Customs (CBIC) on August 1 notified lowering the e-invoice threshold to Rs 10 crore and above from October 1.
• The GST Council, comprising finance ministers of Centre and states, had decided to implement electronic invoice in a phased manner.
• Under Goods and Services Tax (GST) law, e-invoicing for business-to-business (B2B) transactions was made mandatory for companies with turnover of over Rs 500 crore from October 1, 2020, which was then extended to those with turnover of over Rs 100 crore effective January 1, 2021.
• From April 1, 2021, companies with turnover of over Rs 50 crore were generating B2B e-invoices, and the threshold was brought down to Rs 20 crore beginning April 1, 2022.
• Going forward, The CBIC plans to further lower the threshold for e-invoice generation to Rs 5 crore.

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Acquisitions and Mergers – Daily Current Affairs August 02

10. IndiGridwill acquire Raichur Sholapur Transmission Company for how many crores?
A) Rs 250 crores
B) Rs 150 crores
C) Rs 200 crores
D) Rs 100 crores
E) Rs 150 crores
Answer: A) Rs 250 crores

• India Grid Trust (IndiGrid) will acquire a 100 per cent stake in Raichur Sholapur Transmission Company Private Limited for Rs 250 crore.
• It has signed a Share Purchase Agreements (SPAs) for the acquisition of 100 per cent shareholding on July 30, 2022.
• However, the completion of acquisition would depend upon receipt of relevant approvals and completion of contractual obligations.
• Board has signed share purchase agreement to acquire 100 per cent shareholding and economic interest in one or more tranches, in RSTCPL from Patel Engineering Limited (owning 33.34 per cent), Simplex Infrastructures Limited (owning 33.33 per cent stake) and BS Limited (owning 33.33 per cent).

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Appointments – Daily Current Affairs August 02

11. Godrej appointed who among the following as MD & CEO?
A) Gaurav Mohit
B) Mohit Pandey
C) Gaurav Pandey
D) Mohit Malhotra
E) Gaurav Malhotra
Answer: C) Gaurav Pandey

• Company- Godrej Properties MD & CEO
• Appointed- Gaurav Pandey
• Succeeded- Mohit Malhotra
• Others- Gaurav Pandey is currently serving as Chief Executive Officer- North Zone.

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Defence – Daily Current Affairs August 02

12. India exported how many crores worth defence items in Apr-Jun quarter?
A) Rs 1783 crores
B) Rs 1873 crores
C) Rs 1378 crores
D) Rs 1837 crores
E) Rs 1387 crores
Answer: E) Rs 1387 crores

• India exported around Rs 1,387 crore worth of defence-related exports during the first quarter of the financial year 2022-23 (April-June).
• The value of defence exports during the financial year 2021-22 was at Rs 12,815 crore.
• The Government has taken several policy initiatives in the past few years and brought in reforms to encourage indigenous design, development, and manufacture of defense equipment, thereby promoting self-reliance in defense manufacturing & technology in the country.
• The initiatives include priority to the procurement of capital items from domestic sources under Defence Acquisition Procedure (DAP)-2020, the announcement of 18 major defense platforms for industry-led design and development, liberalization of foreign direct investment (FDI) policy allowing 74 per cent investment under the automatic route, among several others.
• The government also proposed the establishment of two defense industrial corridors — one each in Uttar Pradesh and Tamil Nadu.
• In addition, to minimize import by Defence Public Sector Undertakings (DPSUs), Department of Defence Production (DDP), the ministry has notified two Positive Indigenisation Lists (PIL) of sub-systems/assemblies/sub-assemblies/ components.
• The 1st list contains 2,851 items out of which 2,500 items have already been indigenized.
• The second list consists of 107 strategic important Line Replacement Units/major sub-assemblies.

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International Affairs – Daily Current Affairs August 02

13. Mark Rutte is prime minister of which of the following country?
A) Uruguay
B) Netherlands
C) Ireland
D) Germany
E) Italy
Answer: B) Netherlands

• Mark Rutte became the longest-serving prime minister in the ‘ history, a testament to his energy for the job – as well as the political survival skills he has honed over his 12-year tenure.

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14. UN and partners launched global alliance to end AIDS in children by which year?
A) 2040
B) 2035
C) 2050
D) 2030
E) 2025
Answer: D) 2030

• Globally, only half (52%) of children living with HIV are on life-saving treatment, far behind adults where three-quarters (76%) are receiving antiretrovirals, according to the data that has just been released in the UNAIDS Global AIDS Update 2022.
• Concerned by the stalling of progress for children, and the widening gap between children and adults, UNAIDS, UNICEF, WHO and partners have brought together a global alliance to ensure that no child living with HIV is denied treatment by the end of the decade and to prevent new infant HIV infections.
• The new Global Alliance for Ending AIDS in Children by 2030 was announced by leading figures at the International AIDS Conference taking place in Montreal, Canada.
• In addition to the United Nations agencies, the alliance includes civil society movements, including the Global Network of People living with HIV, national governments in the most affected countries, and international partners, including PEPFAR and the Global Fund.
• Twelve countries have joined the alliance in the first phase: Angola, Cameroon, Côte d’Ivoire, The Democratic Republic of the Congo (DRC), Kenya, Mozambique, Nigeria, South Africa, Tanzania, Uganda, Zambia, and Zimbabwe.

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15. India and Maldives Signed how many pacts?
A) 6
B) 8
C) 7
D) 5
E) 4
Answer: A) 6

• Six pacts between India & Maldives to facilitate cooperation in capacity building, cyber security, housing, disaster management & infrastructure.
• During Maldivian President Ibrahim Mohamed Solih4-day visit to India.
• Maldivian President and Indian Prime Minister launched “Greater Male connectivity projects in Maldives” it will be built under India’s $100 million grant and $ 400 million line of credit.
• India also extended $ 100 million line of credit for development projects

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National Affairs – Daily Current Affairs August 02

16. Foodgrains production increased to over how many million tonnes in 2021-22?
A) 316 million tonnes
B) 317 million tonnes
C) 314 million tonnes
D) 315 million tonnes
E) 361 million tonnes
Answer: C) 314 million tonnes

• There is no foodgrains crisis in the country.
• Due to the concerted efforts of the Central, State governments and farmers, the production of foodgrains has increased from 285 million tonnes in 2017-18 to over 314 million tonnes in 2021-22 which is an all-time record.

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17. LTI will train over how many employees on Microsoft technologies?
A) 40000
B) 30000
C) 20000
D) 15000
E) 12000
Answer: E) 12000

• LTI announced the expansion of its collaboration with Microsoft to focus on developing high-value cloud solutions for enterprises.
• As a part of this multi-year collaboration, LTI has launched a dedicated Microsoft business unit that develops and offers end-to-end digital transformation solutions.
• Through this association, LTI will also train 12,000 professionals from its existing workforce on various Microsoft technologies by 2024.

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18. Private players can use drones for delivery purposes in accordance with Drone Rules, 2021,who among the following is the union aviation minister?
A) Rajnath Singh
B) JyotiradityaM.Scinda
C) Prahlad Joshi
D) Ramvilas Paswan
E) Ravi Shankar Prasad
Answer: B) JyotiradityaM.Scinda

• Private players are free to use drones for delivery purposes subject to compliance with Drone Rules, 2021, informed Minister of State for Civil Aviation General VK Singh (Retd) in Rajya Sabha.

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