Daily Current Affairs August 16

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August 16| Daily Current Affairs 2022

Important Days – Daily Current Affairs August 16

1. On which day Parsi new year was celebrated?
A) August 15
B) August 13
C) August 12
D) August 16
E) August 14
Answer: D) August 16

• 16/08/2022 is Navroz or the Parsi New Year.
• It is the most widely celebrated festival of the Parsi community.
• This is seen as a harbinger of peace and prosperity.
• In Mumbai and its suburbs, which host a considerable population of Parsi community, the festival is celebrated with grand lunch and dinner with the best and finest variety of Parsi cuisine.
• Parisis festival as the great occasion to get together, eat and mingle.
• On this day, the Parsis visit the Agyaris or the fire temples to offer prayers.
• They feed the poor on this day, as the new year has to start on a good note.

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Sports – Daily Current Affairs August 16

2. Which of the following country banned by FIFA, stripped of U17 women’s World Cup hosting rights?
A) Sri Lanka
B) India
C) Bangladesh
D) Japan
E) Canada
Answer: B) India

• India was suspended by world governing body FIFA for ”undue influence from third parties” and stripped the country of the right to host the Under-17 Women’s World Cup, scheduled for October.
• This is the first time the All-India Football Federation (AIFF) has been banned by FIFA in its 85 years history.

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3. Durand Cup was 1st started in which year?
A) 1905
B) 1900
C) 1890
D) 1880
E) 1888
Answer: E) 1888

• In Football, FC Goa will take on Mohammedan Sporting Club in the opening tie of the Durand Cup at the Vivekananda Yuba Bharati Krirangan in Kolkata.
• The tournament will feature 20 teams, of which 11 teams will be the clubs that play Indian Super League, five teams will be from I-League and four teams from the Armed forces.
• For the first time in its history, the tournament is being held in multiple cities.
• West Bengal, Assam and Manipur are hosting the Durand Cup 2022.
• The Durand Cup is the oldest football tournament in Asia and was started in 1888.
• It is named after its founder Sir Henry Mortimer Durand, who served as the foreign secretary of British India from 1884 to 1894.
• It first began as a football tournament for different departments and regiments of the Armed forces of British India and native India.
• The 131st edition of the Durand Cup will feature 20 teams with all of them divided into four groups of five teams each.
• East Bengal and Mohun Bagan are the joint-most successful teams in the tournament, having won it 16 times each.
• Mohun Bagan won its last in 2000, while East Bengal won two more titles since, in 2002 and 2004.

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Obituary – Daily Current Affairs August 16

4. Amitabh Chaudhary passed away he was former acting secretary of which organization?
A) ICC
B) SAI
C) BCCI
D) IOA
E) FIFA
Answer: C) BCCI

• Amitabh Chaudhary, the former BCCI acting secretary, and president of Jharkhand State Cricket Association (JSCA) died of a heart attack.
• He was 58.

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Banking and Finance – Daily Current Affairs August 16

5. To sustain loan growth of how many percent in current fiscal, said SBI chairman?
A) 15%
B) 10%
C) 12.5%
D) 20%
E) 25%
Answer: A) 15%

• State Bank of India (SBI) has said it expects to sustain credit growth of about 15 per cent in the current fiscal with rising demand from retail and corporate borrowers despite hardening of lending rate.
• The country’s largest lender reported a 14.93 per cent rise in advances to Rs 29,00,636 crore in the first quarter ended June 30, 2022 as compared to Rs 25,23,793 crore during the same period a year ago.
• Of this, retail loan registered a growth rate of 18.58 per cent while corporate advances improved by 10.57 per cent year-on-year at the end of June quarter.
• SBI chairman Dinesh Kumar Khara also said that the bank will soon come out with only YONO which is YONO 2.0 with many more advanced features and functionalities.

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6. How many percent interest rate on fixed deposits by Ujjivan SFB?
A) 6.5%
B) 7.5%
C) 7.0%
D) 8.5%
E) 8.0%
Answer: B) 7.5%

• Ujjivan Small Finance Bank has raised interest rates on their term deposits, effective 9 August.
• Senior citizens will earn an additional 75 basis points on fixed deposits across all tenures.
• On the occasion of 75 years of India’s independence, Ujjivan SFB announced that it was offering a rate of 7.5% on deposits of three tenures – 75 weeks, 75 months, and 990 days.
• According to the lender, an individual investing ₹1 lakh for 75 weeks at 7.5% can earn returns of up to ₹1,11,282 at maturity.
• Similarly, senior citizens investing ₹1 lakh for 75 weeks at 8.25% can earn returns up to ₹1,12,466 at maturity.

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7. Which of the following bank launched special fixed deposits offering higher interest rates?
A) Punjab National Bank
B) Union Bank of India
C) Indian Bank
D) Bank of Baroda
E) State Bank of India
Answer: D) Bank of Baroda

• Bank of Baroda (Bank), one of India’s leading public sector banks, announced the launch of the Baroda Tiranga Deposit Scheme, a special term deposit product offering higher interest rates.
• The Baroda Tiranga Deposits are available in two tenor buckets – offering interest rates of 5.75% p.a. for 444 days and 6.00% p.a. for 555 days.
• The scheme opens on 16th August up till 31st December, 2022 and is applicable on retail deposits below ₹2 crore.
• Senior citizens will earn an additional interest rate of 0.50% p.a., while Non-Callable Deposits will get 0.15% p.a. extra.

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Business and Economy – Daily Current Affairs August 16

8. WPI inflation eased to how many percent in July?
A) 13.93%
B) 13.45%
C) 13.67%
D) 13.26%
E) 13.31%
Answer: A) 13.93%

• The wholesale price-based inflation eased to 13.93 per cent in July on easing prices of food articles and manufactured products.
• The Wholesale Price Index-based inflation was 15.18 per cent last month and at a record high of 15.88 per cent in May. It was 11.57 per cent in July last year.
• The WPI inflation continued its declining trend for the second month in July but remained in double-digits for the 16th consecutive month beginning April last year.
• Inflation in food articles in July eased to 10.77 per cent from 14.39 per cent in June.
• The rate of price rise in vegetables declined substantially to 18.25 per cent in July against 56.75 per cent in the previous month.
• In the fuel and power basket, inflation was 43.75 per cent in July compared to 40.38 per cent in the last month.
• Inflation in manufactured products and oil seeds was 8.16 per cent and (-)4.06 per cent, respectively.
• The Reserve Bank of India mainly looks at retail inflation to frame monetary policy.
• Retail inflation remained above the Reserve Bank’s comfort level for the seventh month in a row and was at 6.71 per cent in July.
• To tame stubbornly high inflation, the RBI has hiked the key interest rate three times this year to 5.40 per cent.
• The central bank had projected retail inflation to average 6.7 per cent in 2022-23.

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9. Centre may release how many crores to states as June GST compensation?
A) Rs 25000 crores
B) Rs 30000 crores
C) Rs 35000 crores
D) Rs 20000 crores
E) Rs 45000 crores
Answer: C) Rs 35000 crores

• The Centre may release about Rs 35,000 crore to states as goods and service tax (GST) arrears by September-end, Business Standard has learnt, taking the compensation for the year (FY23) to Rs 1.2 trillion.

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10. India $5 trillion economy by which year?
A) FY 30
B) FY 25
C) FY 26
D) FY 28
E) FY 29
Answer: E) FY 29

• India may become a USD five trillion economy by 2028-29 only if the GDP grows at nine per cent per annum consistently for the next five years, former RBI Governor D Subbarao.
• Speaking at Federation of Telangana Chamber of Commerce and Industry on India @75- Marching Towards USD 5 Trillion Economy on the occasion of 75 years of Indian Independence, he said there are eight key challenges for India to overcome to achieve the dream of 5 trillion economy.

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Acquisitions and Mergers – Daily Current Affairs August 16

11. For how many crores Adani Logistics will acquire ICD Tumb from Navkar Corporation?
A) Rs 815 crores
B) Rs 835 crores
C) Rs 820 crores
D) Rs 850 crores
E) Rs 875 crores
Answer: B) Rs 835 crores

• Adani Logistics, a wholly-owned subsidiary of Adani Ports and Special Economic Zone Ltd, has signed a definitive agreement to acquire ICD Tumb (Vapi) from Navkar Corporation for Rs 835 crore.
• Adani Logistics Ltd (ALL) in a statement said the deal comprises the acquisition of the operational ICD with a capacity to handle 0.5 million TEUs (twenty-foot equivalent unit).

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12. How many percent of stake will be sold by KKR in Max Healthcare?
A) 23.73%
B) 24.63%
C) 25.43%
D) 26.83%
E) 22.23%
Answer: D) 26.83%

• American private equity major KKR and Co will sell up to 26.83 per cent in Max Healthcare Institute for Rs 9,416 crore via block deals.
• The offer, managed by Jeffries India and Kotak Securities, India, will mark the exit of KKR from the company.
• According to the terms of the transaction, the shares will be sold at Rs 350 to Rs 362 a share — a discount of 3.29 per cent to its closing price.
• A host of mutual funds, insurance companies and other investors are expected to participate in the offer.
• KKR to sell up to 26% stake in Max Healthcare for Rs 9,416 cr.
• In March this year, Radiant, a KKR affiliate, had sold a 10 per cent stake in Max Healthcare Institute for nearly Rs 3,300 crore at Rs 340 a share.
• According to the terms, KKR will offer a 20 per cent stake in the company to investors and has kept a greenshoe option of another 6 per cent.
• KKR and Radiant had bought 49.7 per cent in Max Healthcare in 2018 for Rs 2,120 crore.
• Radiant had acquired the other joint venture partner, South Africa-based hospital operator Life Healthcare, and merged its own assets into Max Healthcare.
• The entity had over 3,200 beds in 16 hospitals across India.
• For the financial year ended March 2022, the company had reported Rs 1,729 crore as revenue and made a profit of Rs 331 crore.
• In September last year, KKR had sold part of its stake for Rs 2,956 crore as part of its exit strategy.

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National Affairs – Daily Current Affairs August 16

13. Over how many lakh children enrolled in Bal Aadhaar initiative in 4 months?
A) 50 lakhs
B) 75 lakhs
C) 79 lakhs
D) 63 lakhs
E) 65 lakhs
Answer: C) 79 lakhs

• The Unique Identification Authority (UIDAI) has enrolled more than 79 lakh children in the 0-5 age group during the first four months of the current financial year, informed the Ministry of Electronics and IT.
• This is part of a renewed effort to reach out to more children in the 0-5 age group under the Bal Aadhaar initiative and help parents and children avail multiple benefits.

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14. Which of the following state CM announced loan interest relief for farmers in Independence Day speech?
A) Madhya Pradesh
B) Gujarat
C) Bihar
D) Uttar Pradesh
E) West Bengal
Answer: A) Madhya Pradesh

• Madhya Pradesh Chief Minister Shivraj Singh Chouhan said his government will pay interest on loans of those farmers who did not repay in the belief that the loan waiver promise of the previous Congress dispensation would benefit them.
• The state has recorded economic growth of 19.74 per cent as capital expenditure had increased by 45 per cent in the last two years.

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15. Which International Airport Limited launched beta version of DigiYatra app?
A) Kolkata International Airport Limited
B) Chennai International Airport Limited
C) Mumbai International Airport Limited
D) DelhiInternational Airport Limited
E) Bangalore International Airport Limited
Answer: D) Delhi International Airport Limited

• The Delhi International Airport Limited (DIAL) launched a beta version of the DigiYatra app on the Android platform that will allow passengers to avail of quicker check-in at the Indira Gandhi International Airport’s Terminal 3.
• Passengers will submit their biometrics and other details through this app and it will remain stored for all the flights he or they will take at the Delhi airport’s Terminal 3.
• Under the Digi Yatra project, a passenger will pass through various checkpoints at the airport through paperless and contactless processing, using facial features to establish the identity which would be linked to the boarding pass.
• DIAL in a statement said, nearly 20,000 passengers had the seamless and secured travel experience after using the facility during the trials.
• These 20,000-odd passengers then submitted their biometrics and other details through kiosks at Terminal 3 for their specific flights.
• A passenger need not to submit the biometric details at Terminal 3 before each flight.
• The beta version of the DigiYatra app is available on the Andriod platform and will be available on the IOS platform in a few weeks.
• AIR correspondent reports, after downloading the app, the passenger will have to register his or her phone number and Aadhar card details.
• Then, the passenger has to take a selfie, add vaccination details and scan the boarding pass.

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16. How many percent of DA increased by Tamil Nadu government for State government employees?
A) 5%
B) 3%
C) 2.5%
D) 2%
E) 3.5%
Answer: B) 3%

• Tamil Nadu Chief Minister MK Stalin announced a three per cent increase in Dearness Allowance to State government employees and pensioners to 34 per cent.
• This will benefit 16 lakh employees and entail an additional expenditure of ₹1,947.60 crore.
• The Dearness Allowance will be increased from 31 per cent to 34 per cent with effect from July 1, 2022 for government employees and pensioners and family pensioners.

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17. How many bills passed in monsoon session of Parliament?
A) 3
B) 7
C) 4
D) 6
E) 5
Answer: E) 5

• The Monsoon session may not have been very fruitful, however it did pass five major bills by both houses, which include the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Amendment Bill, 2022, the Indian Antarctic Bill, 2022, the National Anti-Doping Bill, 2021, the Family Courts (Amendment) Bill, 2022 and the Central Universities (Amendment) Bill, 2022.
• Revolutionary Electricity Amendment bill, 2022 has also been introduced, which promises to give the users the option to choose electricity supplier just like one can choose for telephone, mobile and internet services.

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