Daily Current Affairs August 01

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 01. 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 01| Daily Current Affairs 2022

Important Days – Daily Current Affairs August 01

1. National Mountain Climbing Day is observed on?
A) July 30
B) July 28
C) July 31
D) July 29
E) August 01
Answer: E) August 01

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Sports – Daily Current Affairs August 01

2. Lok Sabha speaker Om Birla laid foundation stone of synthetic athletics track in Kota, it is located in which of the following state?
A) Rajasthan
B) Karnataka
C) Telangana
D) West Bengal
E) Madhya Pradesh
Answer: A) Rajasthan

• Lok Sabha speaker Om Birla laid the foundation stone of synthetic athletics track at Srinathapuram Stadium in Rajasthan’s Kota.
• The track has been constructed at the cost of Rs 7 crore.

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Banking and Finance – Daily Current Affairs August 01

3. ICICI Bank hiked MCLR on loans by how many basis point?
A) 30
B) 15
C) 5
D) 10
E) 25
Answer: B) 15

• ICICI Bank has raised its marginal cost-based lending rate (MCLR) across all tenures by 15 basis points.
• One basis point equals 0.01 percent.
• The higher interest rates will take effect on August 1, 2022.
• According to the ICICI Bank website, the overnight, one-month MCLR rate has been increased to 7.65 percent from 7.50 percent.
• The three-months, six months MCLRs at ICICI Bank have been increased to 7.70 percent, and 7.85 percent, respectively.
• The one year MCLR is hiked to 7.90 from 7.75 percent.
• Last month ICICI Bank had hiked MCLR by 20 bps with effect from July 1, 2022.

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4. PNB increased MCLR by how many basis point?
A) 30
B) 15
C) 5
D) 10
E) 25
Answer: D) 10

• Punjab National Bank (PNB) has increased its marginal cost of funds-based lending rate (MCLR) by 10 basis points (bps) across tenors, effective August 1, 2022.
• EMIs for borrowers with MCLR-linked loans will rise as a result of this increase.
• The one-year MCLR has been raised from 7.55 percent to 7.65 percent as a result of the modification.
• The overnight, one-month, and three-month MCLRs have all been raised by 10 basis points, to 7.05 percent, 7.05 percent, and 7.15 percent, respectively.
• The six months and three- years MCLRs of PNB raised to 7.35 percent and 7.95 percent respectively.
• On July 1, 2022, PNB increased its lending rate based on the marginal cost of funds by 15 basis points.
• The bank’s repo linked lending rate (RLLR) was kept unchanged at 7.40 percent.

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5. Who among the following decided to extend refinance to SVC Co-op Bank to improve flow of MSME credit?
A) SIDBI
B) RBI
C) SEBI
D) NABARD
E) Ministry of Finance
Answer: A) SIDBI

• Small Industries Development Bank of India (SIDBI) has decided to extend refinance facility to SVC Co-operative Bank to facilitate improved flow of credit to the Micro, Small and Medium Enterprises (MSMEs).
• An agreement was signed between SIDBI (country’s apex financial institution for MSMEs) and the 116-years old multi-state scheduled co-operative bank.
• This is the first such agreement executed with a UCB.
• SIDBI will sign more such agreements with other UCBs and RRBs across various States.

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Business and Economy – Daily Current Affairs August 01

6. GST collections raised how many percent in July compared to previous year?
A) 27%
B) 20%
C) 28%
D) 42%
E) 35%
Answer: C) 28%

• GST collections rose 28 per cent to Rs 1.49 lakh crore on an annual basis in July.
• In July, 2021, Goods and Services Tax (GST) collections stood at Rs 1,16,393 crore.
• The collections in July this year is the second highest since the introduction of GST in July 2017.

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7. UPI recordedhow many billion transactions in July?
A) 4 billion
B) 7 billion
C) 5 billion
D) 3 billion
E) 6 billion
Answer: E) 6 billion

• Unified Payments Interface (UPI) clocked over 6 billion transactions in July: the highest ever by India’s flagship digital payments platform since its inception in 2016.
• UPI reported 6.28 billion transactions amounting to Rs 10.62 trillion, according to data released by the National Payments Corporation of India (NPCI), which operates the platform.
• Month-on-month, the volume of transactions was up 7.16 per cent and value increased 4.76 per cent.
• Year-on-year (YoY), the volume of transactions nearly doubled while value of transactions was up 75 per cent.
• UPI crossed 1 billion transactions for the first time in October 2019, almost three years after its launch.
• The next billion came in under a year, as in October 2020, UPI processed more than 2 billion transactions.
• In the next ten months, UPI processed 3 billion transactions.
• It took only three months for the payment platform to reach 4 billion transactions per month, from 3 billion.
• And, the incremental one billion transactions were achieved in just six months’ time.
• The next incremental one billion was achieved within six months.

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8. Retail assets securitisation volumes raised how many percent in Q1 FY23?
A) 114%
B) 113%
C) 112%
D) 115%
E) 110%
Answer: B) 113%

• Retail assets Securitisation volumes witnessed a sharp rise of 113% year-on-year to Rs 33,000 crore in first quarter of financial year 2022-23.
• This was on back of as usual business activities on account of low curbs on movement of people or goods allowed the economic activity to continue and aid the gradual improvement in credit uptake.
• Last year in the same period, securitisation volume was around Rs 15,500 crore.
• The retail market volume was again driven by direct assignment transactions, which had a lion’s share of 61% of the overall size, while the remaining share was that of passthrough certificate deals.
• Within direct assignment, the dominant asset class was mortgage-backed securitisation (MBS) with an aggregate size of around Rs 13,000 crore, followed by asset-backed securitisation (ABS) at around Rs 4,000 crore, which includes pools backed by all the asset classes.
• Meanwhile, pass through certificate’s volume was mainly driven by ABS pools contributing around 73% of the total issuances.
• The leading asset class driving PTC issuances was vehicle loan financing at around Rs 7,600 crore accounting for around 59%.

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Appointments – Daily Current Affairs August 01

9. Who among the following became World Bank Country Director for India?
A) Ananthakrishan
B) Junaid Kamal Ahmad
C) Anand Burma
D) Auguste Tano Kouame
E) Madhavan
Answer: D) Auguste Tano Kouame

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International Affairs – Daily Current Affairs August 01

10. INS Tarkash conducted Maritime Exercise with French Naval Ships in which ocean?
A) North Atlantic Ocean
B) Bay of Bengal
C) Pacific Ocean
D) Indian Ocean
E) Artic Ocean
Answer: A) North Atlantic Ocean

• INS Tarkash, on her longrange overseas deployment, conducted a Maritime Partnership Exercise (MPX) with French Naval Ships in the North Atlantic Ocean on 29 and 30 July 2022.
• Replenishment at sea was exercised between Tarkash and the French Fleet Tanker FNS Somme.
• This was followed by joint air operations with the maritime surveillance aircraft Falcon 50 participating in multiple simulated missile engagements and air defence drills.

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11. India, Vietnam will hold which edition of bilateral army exercise?
A) 2nd
B) 4th
C) 3rd
D) 5th
E) 1st
Answer: C) 3rd

• The Third Edition of Vietnam-India Bilateral Army Exercise “Ex VINBAX 2022” is scheduled to be conducted at Chandimandir from August 1 to 20, 2022.
• The exercise is a sequel to previously conducted bilateral exercise in Vietnam in 2019 and a major milestone in strengthening the bilateral relations between India and Vietnam.
• India and Vietnam share a Comprehensive Strategic Partnership and defence cooperation is a key pillar of this partnership.
• Vietnam is an important partner in India’s Act East policy and the Indo-Pacific vision.
• The theme of Ex VINBAX – 2022 is employment and deployment of an Engineer Company and a Medical Team as part of United Nations Contingent for Peace Keeping Operations.

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12. Indo-Oman joint military exercise commenced in which of the following state?
A) Rajasthan
B) Karnataka
C) Telangana
D) West Bengal
E) Madhya Pradesh
Answer: A) Rajasthan

• The joint military Exercise AL NAJAH -IV between contingents of Indian Army and the Royal Army of Oman is starting at the Foreign Training Node of Mahajan Field Firing Range in Bikaner, Rajasthan.
• It would conclude on August 13.
• The Royal Army of Oman contingent comprising 60 personnel from the Sultan of Oman Parachute Regiment have already arrived at the exercise location.
• The Indian Army is represented by troops from the 18 Mechanised Infantry Battalion.
• The previous edition of Ex AL NAJAH IV was organised at Muscat from 12 to 25 March 2019.

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National Affairs – Daily Current Affairs August 01

13. Union minister Nitin Gadkari laid foundation for road projects worth how many crores in Madhya Pradesh?
A) 2300 crores
B) 7500 crores
C) 4500 crores
D) 5400 crores
E) 3600 crores
Answer: A) 2300 crores

• Union Minister Nitin Gadkari laid the foundation stone for five road projects, worth Rs 2,300 crore, in Madhya Pradesh, which will improve the state’s connectivity with neighbouring Maharashtra and south India.
• According to officials, the projects include laying 119 km roads on national highways passing through the state, which will generate employment and attract investment.
• As per project details, a four-lane road will be constructed between Tejaji Nagar in Indore to Balwara (Indore-Burhanpur section), a four-lane road on Indore-Raghogarh (Indore-Harda section) and a six-lane flyover at Indore’s Rau Circle.
• Gadkari also laid the foundation for the reconstruction of a service road at Rau Circle and for strengthening the existing road between Tejaji Nagar and Balwara in Indore.

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14. After adding 7 districtsWest Bengal will have how many districts?
A) 35
B) 25
C) 30
D) 40
E) 20
Answer: C) 30

• West Bengal is set to get seven new districts with the cabinet giving its nod to the proposal, Chief Minister Mamata Banerjee.
• The new districts — Berhampore, Kandi, Sunderbans, Bashirhat, Ichamati, Ranaghat and Bishnupur — will take the total number to 30.

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15. Which of the following state hiked DA of state employees to 34 per cent?
A) Rajasthan
B) Karnataka
C) Telangana
D) West Bengal
E) Madhya Pradesh
Answer: E) Madhya Pradesh

• The government has decided to raise the DA of state employees to 34 per cent, which will be at par with the Central government.
• This will put an additional burden of Rs 625 crore on the exchequer, but it will benefit over 7.5 lakh employees and improve their lives.
• The government employees were getting 31 per cent DA after the state had hiked it by 11 per cent at one go the last time.

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16. Which of the following state will implement life insurance scheme exclusively for weavers?
A) Rajasthan
B) Karnataka
C) Telangana
D) West Bengal
E) Madhya Pradesh
Answer: C) Telangana

• The Telangana government has decided to implement a new scheme “Nethanna Bima Pathakam”, a life insurance scheme for weavers, from August 7, on National Handloom Day.
• Industries Minister KT Rama Rao claimed that Telangana was the first state in the country to implement an insurance scheme for weavers.
• The scheme is intended to help 80,000 weavers.
• Those weavers below 60 years are eligible for insurance coverage.
• In case of the death of the weaver, the successors will get Rs 5 lakh within ten days.
• All the handloom and power loom weavers will be covered under the scheme.
• The State government has tied up with LIC for the insurance scheme and there is no need for handloom and power loom weavers to pay the premium.
• The State government will pay the premium on behalf of weavers.
• The government has already allotted Rs 50 crore for the premium amount in the State Budget and released Rs 25 crore.
• The State government will constitute state and district-level committees for the implementation of the scheme.

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17. Over Rs 36 lakh crore worth of loan amounts disbursed to MSMEs in last three fiscal years, fiscal year is between?
A) September- August
B) April-March
C) June-May
D) January-February
E) May-April
Answer: B) April-March

• Over 36 lakh crore rupees worth of loan amounts have been disbursed to Micro, Small and Medium Enterprises (MSMEs) during the last three fiscal years.
• This was stated by Micro, Small and Medium Enterprises Minister Narayan Rane.
• He said, 13.62 lakh crore rupees worth of loan amount have been disbursed to MSMEs in the last fiscal year.
• He added, over 11 lakh crore rupees have been disbursed through loan in the fiscal year 2020-21 and 11.40 crore rupees in 2019-20.

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18. Who among the following minister inaugurated Badi Sadri-Mavli gauge converted rail section?
A) Prime Minister
B) External Affairs Minister
C) Home Minister
D) Railway Minister
E) Finance Minister
Answer: D) Railway Minister

• Union Rail Minister Ashwini Vaishnaw inaugurated the Badi Sadri-Mavli gauge converted rail section.
• He flagged off Badi Sadri-Udaipur City daily special and Rewa-Udaipur City weekly special and Siuri-Sealdah MEMU train virtually in the program organized at Badi Sadri in Chittorgarh Rajasthan.

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