Daily Current Affairs August 08

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 08. 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 08| Daily Current Affairs 2022

Important Days – Daily Current Affairs August 08

1. On Which day Quit India Movement is observed?
A) August 07
B) August 04
C) August 06
D) August 05
E) August 08
Answer: E) August 08

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Sports – Daily Current Affairs August 08

2. In Which sport Annu Rani won bronze medal in CWC 2022?
A) Relay
B) Boxing
C) Javelin Throw
D) Wrestling
E) 10000m Walking
Answer: C) Javelin Throw

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3. V Pranav became India’s ____ Grandmaster?
A) 75th
B) 70th
C) 74th
D) 72nd
E) 73rd
Answer: A) 75th

• Chess prodigy V Pranav became India’s 75th Grandmaster by winning a tournament in Romania.
• The Chennai-based Pranav won the Limpedea Open in Baia Mare, Romania to secure his third and final GM norm and attain the Grandmaster title.
• He finished the tournament with 7 points from nine rounds to wrap the GM norm requirements.

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Banking and Finance – Daily Current Affairs August 08

4. How many lakh crore NPAs recovered by Public Sector Banks?
A) ₹6.45 lakh crore
B) ₹6.42 lakh crore
C) ₹6.43 lakh crore
D) ₹6.44 lakh crore
E) ₹6.24 lakh crore
Answer: B) ₹6.42 lakh crore

• The public sector banks (PSBs) have recovered ₹6.42 lakh crore of non-performing loans and written-off loans since FY15 and filed suits against 98.5% of wilful defaulters, data available with the government showed.
• Over FY16 to FY21, the government has infused ₹3.36 lakh crore of capital in PSBs while the banks themselves have raised an additional ₹2.99 lakh crore from the markets.

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5. HDFC Bank increased MCLR on loans by how many basis points?
A) 30 bps
B) 25 bps
C) 20 bps
D) 10 bps
E) 15 bps
Answer: D) 10 bps

• Private sector lender HDFC Bank has increased its marginal cost of funds-based lending rate (MCLR) on loans across all tenures by up to 10 basis points (100 basis points = 1%).
• The new loan rates will be effective from August 8, 2022.
• According to the HDFC Bank website, the overnight MCLR is now 7.80 percent, up from 7.70 percent a hike of 10 bps.
• The MCLR for one month is 7.80 percent.
• The three-month and six-month MCLRs will be 7.85 percent and 7.95 percent, respectively.
• The one-year MCLR, which is connected to many consumer loans, will now be 8.10 percent, the two-year MCLR will be 8.20percent, and the three-year MCLR will be 8.30 percent.

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6. According to whom the home loans growing much faster in Tier 3, 4 districts?
A) SBI Research
B) NITI Aayog
C) RBI
D) NABARD
E) Ministry of Finance
Answer: A) SBI Research

• Home loan portfolios in tier 3 and tier 4 districts are growing at a much faster rate than tier 1 and tier 2 districts post-pandemic, a study conducted by SBI Research showed.
• Total portfolio in terms of outstanding grew by more than 10 per cent in the financial year that ended in March.
• The share of housing loans in bank credit has increased to 14.4 per cent in June 2022 from 13.1 per cent in March 2020.
• Housing contributes around 50 per cent of the personal/retail loans.
• Metropolitan regions of Bangalore, Chennai, Delhi (NCR), Hyderabad, Kolkata, Mumbai, Ahmedabad, and Pune are considered Tier 1, and state capitals and evolving areas are categorized as Tier 2.
• The rest of the districts are categorized as Tier 3 and Tier 4 based on their urban population.
• If the urban population of a rural district is between 26-50 per cent, it is classified as Tier 3 and the rest as Tier 4.
• The trend of rising home loan demand in rural districts can be attributed to the SVAMITVA scheme, which provides rural people with the right to document their residential properties which can then help them to use their property for economic purposes.
• Haryana and Uttar Pradesh, where this scheme has already covered many villages, have more districts where home loan disbursal is increasing at a faster pace.
• Also, central government schemes like AMRUT, PMAY(U) and Smart Cities Mission have been pivotal in creating a holistic ecosystem that has seen housing demand accelerating in non-metro areas, it said.
• The research further said India’s home loan market, currently valued at Rs 24 trillion is expected to double in the next 5 years, mirroring the overall trend in the country’s aspirations to become a USD $5 trillion economy.

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Business and Economy – Daily Current Affairs August 08

7. How many crores new projects will be added by Godrej Properties in FY’23?
A) ₹ 11000 crores
B) ₹ 13000 crores
C) ₹ 15000 crores
D) ₹ 10000 crores
E) ₹ 14000 crores
Answer: C) ₹ 15000 crores

• Godrej Properties is looking to add new housing projects worth about Rs 15,000 crore this fiscal year by purchasing land outright and by forming joint ventures with landowners.
• Mumbai-based Godrej Properties Ltd (GPL), part of the business conglomerate Godrej Group, is one of the leading real estate developers in the country.
• The company’s sales bookings jumped five-fold to Rs 2,520 crore during the April-June period — highest ever first quarterly sales.

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8. How many crores invested by Reliance in retail in FY22to accelerate store expansion, e-commerce?
A) ₹ 35000 crores
B) ₹ 40000 crores
C) ₹ 20000 crores
D) ₹ 25000 crores
E) ₹ 30000 crores
Answer: E) ₹ 30000 crores

• Reliance Industries invested Rs 30,000 crore (around USD 3.76 billion) in its retail business and added 2,500 stores, taking the total storecount to 15,196 in FY22.
• Besides, Reliance Retail added 11.1 million square feet of warehousing space during the year, nearly doubling the warehousing space to 22.7 million square feet, Reliance Industries Ltd (RIL) said in the annual report for FY22.
• In FY22, Reliance Retail added over 1.50 lakh jobs, taking its total headcount to 3.61 lakh.
• During the fiscal year, Reliance Retail further strengthened its sourcing ecosystem, working closely with producers, MSMEs, service providers, and local and international brand companies.

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9. Value of fake currency seized declined by how many percent since 2016-17?
A) 75%
B) 80%
C) 90%
D) 65%
E) 70%
Answer: B) 80%

• The value of counterfeit notes detected in the banking system has reduced from Rs 43.47 crores in 2016-17 to Rs 8.26 crores in 2021-22 — a decline of around 80 per cent, Union Minister of State for Finance Pankaj Chaudhary informed Lok Sabha.
• Further, the number of counterfeit banknotes has come down from 7.62 lakh pieces in 2016-17 to 2.08 lakh in 2020-21.
• The number of counterfeit banknotes has come down, the minister said, because of the decision of the government to cancel the legal tender status of Rs 1,000 and Rs 500 denomination currency notes on November 8, 2016.

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10. How many lakh crore Infrastructure assets will be monetised this fiscal?
A) ₹1.64 lakh crore
B) ₹1.61 lakh crore
C) ₹1.63 lakh crore
D) ₹1.62 lakh crore
E) ₹1.65 lakh crore
Answer: D) ₹1.62 lakh crore

• Infrastructure assets worth over Rs 1.62 lakh crore are expected to be monetized during the current fiscal, Parliament.
• The government had last year announced a Rs 6 lakh crore National Monetisation Pipeline (NMP) to unlock value in infrastructure assets across sectors, ranging from power to road and railways in four years till 2025.
• Minister of State for Finance Pankaj Chaudhary said about Rs 97,000 crore worth of public assets were monetized in the last fiscal (2021-22).
• The key transactions include highway toll-operate-transfer (TOT) based PPP concessions, NHAI’s Infrastructure Investment Trust (InvIT), PowerGrid InvIT, annual accruals from mineral and coal blocks auctioned in FY21-22, private investment in the redevelopment of railway colonies, receipts from 6 airports leased on PPP mode and private investment from port terminals bid out on PPP mode.
• Indicative value of assets envisaged to be monetized under NMP during FY22-23 is Rs 1,62,422 crore.

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Acquisitions and Mergers – Daily Current Affairs August 08

11. For how many crores Tata Motors’ subsidiary acquired Ford’s plant in Gujarat?
A)₹725.7 crores
B) ₹724.0 crores
C) ₹723.9 crores
D) ₹722.8 crores
E) ₹721.6 crores
Answer: A) ₹725.7 crores

• Tata Motors‘ electric vehicle arm Tata Passenger Electric Mobility has acquired a Ford India manufacturing plant situated at Sanand in Gujarat for a total consideration of Rs 725.7 crore.
• The deal includes land and buildings, a vehicle manufacturing plant along with machinery and equipment as well as the transfer of all eligible employees of the vehicle manufacturing operations at Sanand.

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Appointments – Daily Current Affairs August 08

12. Dvorkovich re-elected FIDE president, he was former Prime Minister of which of the following country?
A) Canada
B) France
C) Russia
D) Italy
E) Germany
Answer: C) Russia

• FIDE: President
• Re-elected: Arkady Dvorkovich (2nd term)
• Others: Former Russian Deputy Prime Minister

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Science and Technology – Daily Current Affairs August 08

13. 5G mobile services likely to be rolled out in about a month, who is the union minister of Communication?
A) Sarbananda Sonowal
B) Giriraj Singh
C) Prahlad Joshi
D) Bhupender Yadav
E) Ashwini Vaishanw
Answer: E) Ashwini Vaishanw

• The long-awaited high-speed 5G services are expected to be rolled out in about a month, Minister of State for Telecom Devusinh Chauhan.
• Addressing the inaugural event of the International Telecommunication Union’s Regional Standardisation Forum (RSF) for Asia and Oceania region, Chauhan said India is likely to deploy indigenously developed and manufactured 5G telecom gears by end of this year for 5G services.

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Defence – Daily Current Affairs August 08

14. HAL developing long-endurance drone for vigil over LAC, where is the headquarters of HAL?
A) Mumbai
B) Bengaluru
C) Kolkata
D) New Delhi
E) Hyderabad
Answer: B) Bengaluru

• State-run aerospace behemoth Hindustan Aeronautics Ltd (HAL) is working on an AI-driven multi-role, advanced and long-endurance drone for strategic missions in high-altitude areas including along the frontiers with China.
• The rotary-wing drone will have the capability to carry a load of 40 kgs, including missiles and sensors, and it is being developed considering the requirement of the armed forces to keep a strong vigil over the mountainous areas along the Line of Actual Control (LAC).
• The HAL has set a target of conducting the maiden test-flying of the unmanned aerial vehicle (UAV) by the middle of next year and plans to produce 60 such platforms in the first phase of the project.
• They said the operating system of the long-endurance drone will feature applications of Artificial Intelligence and the armed forces will be able to use it for multiple purposes including transporting essential supplies.

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National Affairs – Daily Current Affairs August 08

15. How many croresLPG plant inaugurated by IOC in Agartala?
A) ₹174 crores
B) ₹159 crores
C) ₹160 crores
D) ₹169 crores
E) ₹170 crores
Answer: D) ₹169 crores

• PSU major Indian Oil Corporation has inaugurated its latest greenfield LPG bottling plant at Agartala, set up at an investment of Rs 169.11 crore.
• The foundation stone for the plant was laid in 2017 and the project got completed as per schedule in February 2020, Indian Oil Corporation Executive Director (Indian Oil-AOD).

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16. Capacity of daily registration on e-Shram portal increased to how many lakh per day?
A) 80 lakh
B) 70 lakh
C) 40 lakh
D) 60 lakh
E) 50 lakh
Answer: A) 80 lakh

• The government said the capacity of daily registration on e-Shram portal has been increased to 80 lakh per day.
• The e-Shram portal was initially designed to have a daily registration capacity of 10 to 15 lakh per day.
• The portal was launched in August last year to create a National Database of the Unorganised Workers in the country.
• However, the portal received unprecedented response from unorganised workers and the actual load increased beyond the initial designed capacity.
• One of the main objectives of the e-Shram portal other than registration is to facilitate delivery of benefits of social security schemes to the unorganised workers through integration with other government portals.

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17. Which of the following state will contribute $550 bn to make India $5-trn economy?
A) Andhra Pradesh
B) Kerala
C) Maharashtra
D) Tamil Nadu
E) Madhya Pradesh
Answer: E) Madhya Pradesh

• Madhya Pradesh will contribute USD 550 billion towards making India a $ 5 trillion economy, Chief Minister Shivraj Singh Chouhan.
• His remarks came at the seventh NITI Aayog Governing Council meeting chaired by Prime Minister Narendra Modi in New Delhi.
• In 2019, PM Modi envisioned making India a USD 5-trillion economy and global powerhouse by 2024-25.

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18. In Which of the following state Varsity signed MoU to develop avocado research centre?
A) Andhra Pradesh
B) Kerala
C) Maharashtra
D) Tamil Nadu
E) Madhya Pradesh
Answer: B) Kerala

• Mahatma Gandhi University and the Fruits Valley Farmers Producers Company has signed a memorandum of understanding (MoU) to develop an avocado research centre at Adimali in Kerala.
• The MoU was signed by University Registrar Prakash Kumar and company chairman Biju Parayannilam.
• The company will encourage the avocado, rambutan, mangosteen, and passion fruit production and will export the same to other countries and ensure a stable price for such fruits.

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19. Domestic airlines projected to have how many planes by 2027?
A) 1400
B) 1600
C) 1800
D) 1200
E) 1500
Answer: D) 1200

• Domestic airlines projected to have 1,200 planes by 2027; country to have 220 airports by 2030.

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