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.

TO PURCHASE OUR BANKING AWARENESS (2021 Edition) – CLICK HERE

August 02 | Daily Current Affairs 2024

Obituary – Daily Current Affairs August 02

1. Which legendary Indian cricketer and former coach, known as “The Wall” before Rahul Dravid, recently passed away at the age of 71?
A) Kapil Dev
B) Sunil Gavaskar
C) Anshuman Gaekwad
D) Madan Lal
E) Dilip Vengsarkar
Answer: C) Anshuman Gaekwad

Event and Location:

• Event: Passing of legendary Indian cricketer Anshuman Gaekwad
• Location: Baroda, India

Mandates and Objectives:

• Cricketing Career:
  • Anshuman Gaekwad was a former Indian cricketer, coach, and selector known for his calm demeanor and defensive batting style.
  • He played in 40 Tests and 15 One-Day Internationals (ODIs) for India, scoring 2,254 runs across both formats.
  • Gaekwad was nicknamed “The Wall” early in his career for his solid, defensive approach to batting, a title later famously associated with Rahul Dravid.
• Coaching and Selection:
  • After retiring from playing, Gaekwad served as a national selector and then as the head coach of the Indian cricket team.
  • His first coaching tenure lasted from October 1997 to September 1999, where he managed the team through mixed results, including a challenging tour of Australia and a difficult World Cup campaign.
  • He returned briefly as coach in 2000 after Kapil Dev stepped down, before being replaced by India’s first foreign coach, John Wright.
• Legacy and Recognition:
  • In recognition of his contributions to Indian cricket, Gaekwad was awarded the prestigious CK Nayudu Lifetime Achievement Award by the BCCI in 2018.
  • He is remembered as one of the best coaches in Indian cricket history.

Important Terms Explained:

• CK Nayudu Lifetime Achievement Award: A prestigious honor given by the Board of Control for Cricket in India (BCCI) to individuals who have made significant contributions to Indian cricket.

Static GK Information:

Tabular Summary:

---

Ranking – Daily Current Affairs August 02

2. In Q1 of FY2024-25, India maintained its position as the world’s second-largest producer of which metal, recording a 1.2% output growth?
A) Iron Ore
B) Limestone
C) Manganese
D) Copper
E) Aluminium
Answer: E) Aluminium

Event and Location:

• Event: India’s growth in primary aluminium production
• Location: India

Mandates and Objectives:

• Aluminium Production Growth:
  • India’s primary aluminium production increased by 1.2% in the June quarter of FY2024-25, reaching 10.43 lakh tonnes.
  • This growth secures India’s position as the world’s second-largest producer of primary aluminium.
• Global Standing:
  • In 2023, India accounted for 6% of global primary aluminium production, with a total output of 4.1 million tonnes.
  • India is also the third-largest consumer of primary aluminium globally.

Important Terms Explained:

• Primary Aluminium: Refers to the aluminium obtained directly from bauxite ore through the electrolytic reduction process.
• Ministry of Mines: The Indian government body responsible for overseeing mineral production, including aluminium.

Static GK Information:

Tabular Summary:

---

3. Which position did India retain in the global agricultural exports ranking in 2023, according to the WTO’s Trade Statistics report?
A) Fifth
B) Sixth
C) Seventh
D) Eighth
E) Ninth
Answer: D) Eighth

Event and Location:

• Event: India’s retention of the eighth position in global agricultural exports for 2023
• Location: WTO Trade Statistics 2023 Report

Mandates and Objectives:

• Global Ranking:
  • Despite a drop in its agriculture exports from $55 billion in 2022 to $51 billion in 2023, India maintained its position as the eighth-largest global exporter of agricultural products.
• Global Context:
  • The WTO’s Trade Statistics 2023 report highlights that among the top ten agricultural exporters, only Brazil, the European Union (EU), and Thailand increased their exports.
  • Brazil’s agricultural exports increased by 6% to $157 billion, while the EU’s exports rose by 5% to $836 billion. Thailand saw a minor increase of 0.2%.

Impact of Geopolitical Factors:

• Geopolitical Issues:
  • India’s export decline is partially attributed to geopolitical factors such as the Red Sea crisis and the ongoing Russia-Ukraine war, which affected global trade.
  • Additional factors include India’s export bans on wheat (May 2022), non-basmati rice (July 2023), and sugar (October 2023), leading to a decrease in agricultural exports.

Important Terms Explained:

• WTO (World Trade Organization): An international organization that regulates international trade. The WTO’s Trade Statistics report provides insights into global trade trends and rankings.
• Agricultural Exports: The sale and shipment of agricultural goods, such as grains, fruits, vegetables, and livestock, to other countries.

Static GK Information:

Tabular Summary:

---

 

Business and Economy – Daily Current Affairs August 02

4. In July, India’s GST collections rose by 10.3% to a three-month high. What was the total GST collection for July?
A) Rs 1.74 lakh crore
B) Rs 1.66 lakh crore
C) Rs 1.82 lakh crore
D) Rs 2.1 lakh crore
E) Rs 7.39 lakh crore
Answer: C) Rs 1.82 lakh crore

Event and Location:

• Event: GST collections in India for the month of July 2024
• Location: India

Mandates and Objectives:

• GST Collection Data:
  • India’s Goods and Services Tax (GST) collections for July 2024 reached Rs 1.82 lakh crore, marking a 10.3% increase compared to June 2024.
  • This figure represents a three-month high but is still lower than the peak of Rs 2.1 lakh crore collected in April 2024.
• Economic Indicators:
  • The rise in collections indicates increased economic activity and consumption, particularly in developing regions such as Nagaland, Manipur, Andaman & Nicobar, and Ladakh.
  • Domestic revenue grew by 8.9%, while GST revenue from imports was up by 14.2%.
  • Net domestic revenues were recorded at Rs 1.66 lakh crore, a 14.4% increase from the previous year.

Important Terms Explained:

• GST (Goods and Services Tax): A comprehensive, multi-stage, destination-based tax levied on every value addition in India. It is designed to bring uniformity to the taxation process across the country.
• CBIC (Central Board of Indirect Taxes & Customs): The nodal national agency responsible for administering Customs, Central Excise, Service Tax & GST in India.

Static GK Information:

Tabular Summary:

---

5. What was the total value of UPI transactions recorded in July for the third consecutive month?
A) Rs 15 lakh crore
B) Rs 18 lakh crore
C) Rs 20 lakh crore
D) Rs 22 lakh crore
E) Rs 25 lakh crore
Answer: C) Rs 20 lakh crore

Event and Location:

• Event: UPI transactions in India for July 2024
• Location: Mumbai, India

Mandates and Objectives:

• UPI Transaction Volume:
  • In July 2024, the volume of UPI transactions reached 1,444 crore, marking a 4% increase from June 2024’s 1,389 crore transactions.
  • The volume also reflects a 45% increase compared to the same period last year.
• UPI Transaction Value:
  • The total value of UPI transactions for July exceeded Rs 20 lakh crore for the third consecutive month, highlighting the continued growth and adoption of digital payments in India.

Important Terms Explained:

• UPI (Unified Payments Interface): A real-time payment system developed by the National Payments Corporation of India (NPCI), facilitating inter-bank transactions instantly through mobile platforms.
• Lakh Crore: An Indian unit of measurement where 1 lakh crore equals 100 trillion in numerical terms.

Static GK Information:

Tabular Summary:

---

Appointments – Daily Current Affairs August 02

6. Who has been re-appointed as the MD and CEO of Unity Small Finance Bank for two years as approved by the RBI?
A) Rajeev Ahuja
B) Inderjit Camotra
C) Sandeep Bakhshi
D) Shyam Srinivasan
E) Vishwavir Ahuja
Answer: B) Inderjit Camotra

Event and Location:

• Event: Re-appointment of MD and CEO of Unity Small Finance Bank
• Location: Mumbai, India

Mandates and Objectives:

• RBI’s Approval:
  • The Reserve Bank of India (RBI) has approved the re-appointment of Inderjit Camotra as the MD and CEO of Unity Small Finance Bank for a period of two years.
• Achievements Under Leadership:
  • Under Camotra’s leadership, Unity SFB has achieved significant milestones, including:
    • Building a deposit base of over ₹8,000 crore.
    • Establishing a loan book of over ₹8,500 crore.
    • Expanding its network to about 400 banking outlets and offices across 21 States and Union Territories in India.
• Background of Unity SFB:
  • The RBI had granted in-principle approval to Centrum Financial Services Ltd (CFSL) to set up the SFB as part of the revival of the erstwhile Punjab and Maharashtra Co-operative Bank in June 2021.
  • The bank commenced operations in November 2021 with CFSL holding a 51% stake and BharatPe acquiring a 49% stake.

Important Terms Explained:

• Small Finance Bank (SFB): A type of bank in India aimed at providing financial inclusion by offering basic banking services like deposits and lending to the underserved and unbanked sectors.
• RBI (Reserve Bank of India): The central bank of India, responsible for regulating the country’s monetary policy and overseeing financial institutions.

Static GK Information:

Tabular Summary:

---

Awards – Daily Current Affairs August 02

7. Which Indian city recently became the fourth to receive the World Craft City Certificate from the World Crafts Council?
A) Jaipur
B) Mysore
C) Mamallapuram
D) Kashmir
E) Hyderabad
Answer: D) Kashmir

Event and Location:

• Event: Kashmir receiving the World Craft City Certificate
• Location: Srinagar, Jammu and Kashmir, India

Mandates and Objectives:

• World Craft City Certification:
  • Kashmir was awarded the World Craft City Certificate by the World Crafts Council International in a ceremony held in Srinagar on 31 July 2024.
  • This recognition makes Kashmir the fourth Indian city to be included in the World Craft City list, joining Jaipur, Mamallapuram, and Mysore.
• Significance for Kashmir:
  • The recognition is expected to boost the handicraft sector in Kashmir, which is known for its rich craft heritage, including Carpet Weaving, Kani-Shawl, Paper Maachie, Khatamband, wood carving, Kandikari copperware, and Tilla Work.
  • The certification is likely to enhance global recognition and demand for Kashmiri handicrafts, increasing exports, tourism, and the income of artisans.

Important Terms Explained:

• World Craft City: A designation given by the World Crafts Council to cities that have a rich tradition of craftsmanship and actively contribute to the preservation and promotion of traditional crafts.
• World Crafts Council International: A non-profit organization established in 1964 to promote the preservation, promotion, and advancement of global craftsmanship and traditional crafts.

Static GK Information:

Tabular Summary:

---

 

Defence – Daily Current Affairs August 02

8. Which Indian naval ship conducted a Maritime Partnership Exercise (MPX) with the Russian naval ship Soobrazitelny in July 2024?
A) INS Vikrant
B) INS Shivalik
C) INS Tabar
D) INS Trikand
E) INS Kolkata
Answer: C) INS Tabar

Event and Location:

• Event: Maritime Partnership Exercise (MPX) between Indian and Russian navies
• Location: St. Petersburg, Russia

Mandates and Objectives:

• INS Tabar’s Visit and Participation:
  • INS Tabar, an Indian Navy frontline frigate, visited St. Petersburg, Russia on 25 July 2024 to participate in the 328th Russian Navy Day Parade.
  • The visit aimed to strengthen bilateral relations and maritime cooperation between India and Russia, exploring new avenues for partnership.
• Maritime Partnership Exercise (MPX):
  • After departing St. Petersburg, INS Tabar conducted a Maritime Partnership Exercise (MPX) with the Russian naval ship Soobrazitelny on 30 July 2024.
  • The exercise involved complex naval maneuvers, including communication drills, Search & Rescue tactics, and Replenishment at Sea serials.
  • The MPX highlighted the professionalism and interoperability between the two navies, reinforcing their commitment to maintaining peace, stability, and security in the region.

Important Terms Explained:

• Maritime Partnership Exercise (MPX): A naval exercise aimed at enhancing cooperation, coordination, and operational readiness between two or more navies through joint maneuvers and drills.
• INS Tabar: A Talwar-class frigate of the Indian Navy, known for participating in various international naval exercises.

Static GK Information:

Tabular Summary:

---

International Affairs – Daily Current Affairs August 02

9. Which two countries signed an MoU to develop the National Maritime Heritage Complex (NMHC) in Lothal, Gujarat?
A) India and Vietnam
B) India and Japan
C) India and Sri Lanka
D) India and Indonesia
E) India and Thailand
Answer: A) India and Vietnam

Event and Location:

• Event: Signing of an MoU between India and Vietnam
• Location: Hyderabad House, New Delhi, India

Mandates and Objectives:

• MoU Signing:
  • India and Vietnam have signed a Memorandum of Understanding (MoU) to develop the National Maritime Heritage Complex (NMHC) in Lothal, Gujarat.
  • The collaboration will showcase and preserve the rich maritime heritage of both nations.
• NMHC Objectives:
  • Emphasize the historical and cultural ties between India and Vietnam.
  • Focus on artifact exchange, design collaboration, and technological implementation.
  • Develop the NMHC as a hub for cultural exchange, research, and learning.
  • Promote international tourism centered around maritime heritage.

Important Terms Explained:

• National Maritime Heritage Complex (NMHC): A complex being developed in Lothal, Gujarat, to preserve and display India’s and Vietnam’s maritime history. It will include museums, galleries, theme parks, and educational programs.
• MoU (Memorandum of Understanding): A formal agreement between two or more parties outlining the terms and details of an understanding, including each party’s requirements and responsibilities.

Static GK Information:

Tabular Summary:

---

10. Which iconic sites in South Africa were recently added to the UNESCO World Heritage List, as welcomed by President Cyril Ramaphosa?
A) Robben Island Sites
B) Table Mountain National Park
C) Nelson Mandela Legacy Sites
D) Apartheid Museum
E) Kruger National Park
Answer: C) Nelson Mandela Legacy Sites

Event and Location:

• Event: Addition of Nelson Mandela legacy sites to the UNESCO World Heritage List
• Location: 46th session of the UNESCO World Heritage Committee, New Delhi, India

Mandates and Objectives:

• UNESCO Listing:
  • Several iconic sites in South Africa linked to the late President Nelson Mandela have been inscribed on the UNESCO World Heritage List.
  • These sites are listed as “The Human Rights, Liberation and Reconciliation: Nelson Mandela Legacy Sites.”
  • The listing includes 14 sites significant to the human rights and liberation struggle in South Africa.
• Importance of Sites:
  • Sites like the Union Buildings in Pretoria and Constitution Hill in Johannesburg are part of this listing.
  • These locations are emblematic of Mandela’s struggle against apartheid and his legacy of human rights, liberation, and reconciliation.

Important Terms Explained:

• UNESCO World Heritage Sites: Locations designated by UNESCO as having cultural, historical, scientific, or other forms of significance, which are legally protected by international treaties.
• Nelson Mandela: South Africa’s first black president and a global symbol of resistance against apartheid; he played a crucial role in ending white minority rule in South Africa.

Static GK Information:

Tabular Summary:

---

National Affairs – Daily Current Affairs August 02

11. Which state in India announced the establishment of GRIT, a think-tank modeled after NITI Aayog, to drive state development?
A) Maharashtra
B) Uttar Pradesh
C) Tamil Nadu
D) Gujarat
E) Karnataka
Answer: D) Gujarat

Event and Location:

• Event: Announcement of the establishment of the Gujarat State Institution for Transformation (GRIT)
• Location: Gujarat, India

Mandates and Objectives:

• Establishment of GRIT:
  • Gujarat’s Chief Minister Bhupendra Patel announced the creation of the Gujarat State Institution for Transformation (GRIT).
  • GRIT is modeled after NITI Aayog and will serve as a public policy think-tank for the state’s development.
• Gujarat@2047 Roadmap:
  • CM Bhupendra Patel also introduced the ‘Gujarat@2047 Roadmap,’ focusing on improving the quality of life and economic growth in the state.
  • The roadmap emphasizes ‘Earning Well’ and ‘Living Well,’ aiming to enhance both economic prosperity and the quality of life for the citizens of Gujarat.
• Economic Goals:
  • The state aims to become a USD 3.5 trillion economy by 2047, contributing significantly to India’s GDP.
  • The strategy includes advancements in areas such as PM Gati Shakti, health, women’s empowerment, natural farming, and MSME development.

Important Terms Explained:

• NITI Aayog: The National Institution for Transforming India, a policy think-tank of the Government of India, established to foster cooperative federalism through the involvement of state governments in the economic policy-making process.
• Gujarat@2047 Roadmap: A strategic document outlining Gujarat’s long-term development goals aimed at transforming the state by the year 2047.

Static GK Information:

Tabular Summary:

---

12. Which Indian minister recently inaugurated the Network Operations Centre for Telecom Network Security, where a pilot 5G call using indigenous technology was tested?
A) Nirmala Sitharaman
B) Rajnath Singh
C) Ashwini Vaishnaw
D) Jyotiraditya M Scindia
E) Narendra Modi
Answer: D) Jyotiraditya M Scindia

Event and Location:

• Event: Inauguration of the Network Operations Centre for Telecom Network Security and testing of a 5G call using indigenous technology
• Location: Centre for Development of Telematics (C-DOT) Delhi Campus

Mandates and Objectives:

• Inauguration by Ministers:
  • Shri Jyotiraditya M Scindia, Union Minister of Communications and Development of North Eastern Region, along with Dr. Pemmasani Chandra Sekhar, Minister of State for Communications & Rural Development, inaugurated the Network Operations Centre at C-DOT.
  • This centre is designed to identify and monitor cyber threats in India’s telecom network, including malicious activities like malware, ransomware, DoS, DDoS, DNS amplification, and malicious domain communications.
• 5G Technology:
  • During the visit, Shri Scindia made a pilot 5G call using an indigenously developed 5G Radio and 5G core (NSA) on BSNL’s live network.
• C-DOT’s Indigenous Technology Programs:
  • The ministers reviewed C-DOT’s ongoing projects, including 4G/5G development, Quantum Key Distribution (QKD), Post Quantum Cryptography (PQC), and Cyber Security solutions.
  • These developments are part of India’s vision of ‘Atmanirbhar Bharat’ (self-reliant India) to promote home-grown technologies.

Important Terms Explained:

• C-DOT (Centre for Development of Telematics): A premier telecom R&D organization under the Ministry of Communications, India, focusing on developing indigenous telecom technologies.
• 5G Technology: The fifth generation of mobile network technology, offering faster speeds, lower latency, and more reliable connections.

Static GK Information:

Tabular Summary:

---

13. Under the Production Linked Incentive (PLI) Scheme for Pharmaceuticals, how many orphan drugs have been approved for manufacturing?
A) 5
B) 6
C) 7
D) 8
E) 10
Answer: D) 8

Event and Location:

• Event: Implementation of the Production Linked Incentive (PLI) Scheme for Pharmaceuticals
• Location: India

Mandates and Objectives:

• PLI Scheme Overview:
  • The Department of Pharmaceuticals is implementing the Production Linked Incentive (PLI) Scheme for the pharmaceutical sector with a total financial outlay of Rs. 15,000 crore.
  • The scheme is designed to incentivize 55 selected applicants for the manufacturing of identified products under three categories over a period of six years until FY 2027-28.
• Orphan Drugs:
  • Under this scheme, a total of 8 orphan drugs have been approved for manufacturing. Orphan drugs are used to treat rare diseases.
  • These drugs include Nitisinone, Nusinersen, Rufinamide, Sodium Phenyl Butyrate, Tiopronin, Trientine Hydrochloride, Eliglustat, and Cannabidiol.

Important Terms Explained:

• Orphan Drugs: Medications developed to treat rare diseases, often referred to as orphan diseases, which affect a small percentage of the population.
• Production Linked Incentive (PLI) Scheme: A scheme by the Indian government aimed at boosting domestic manufacturing by providing financial incentives based on the output or sales performance of selected products.

Static GK Information:

Tabular Summary:

---

14. Which international event is Prime Minister Narendra Modi set to inaugurate on 3rd August 2024, focusing on sustainable agri-food systems?
A) World Food Summit
B) Global Agri-Tech Conference
C) International Conference on Sustainable Agriculture
D) International Conference of Agricultural Economists
E) World Agricultural Forum
Answer: D) International Conference of Agricultural Economists

Event and Location:

• Event: 32nd International Conference of Agricultural Economists (ICAE)
• Location: National Agricultural Science Centre (NASC) Complex, New Delhi, India

Mandates and Objectives:

• Conference Inauguration:
  • Prime Minister Narendra Modi will inaugurate the 32nd International Conference of Agricultural Economists (ICAE) on 3rd August 2024 at the NASC Complex, New Delhi.
  • The conference, organized by the International Association of Agricultural Economists, is returning to India after 65 years.
• Conference Theme:
  • The theme for this year’s conference is “Transformation Towards Sustainable Agri-Food Systems.”
  • The conference will address global challenges like climate change, natural resource degradation, rising production costs, and conflicts, with a focus on creating sustainable agricultural practices.
• Global Participation and Objectives:
  • The event will witness participation from around 1,000 delegates from 75 countries.
  • The conference will serve as a platform for young researchers and professionals to present their work, network, and influence policymaking at both national and global levels.
  • It will also showcase India’s agricultural advancements in areas such as digital agriculture and sustainable agri-food systems.

Important Terms Explained:

• ICAE (International Conference of Agricultural Economists): A triennial conference organized by the International Association of Agricultural Economists to discuss global agricultural economics issues and challenges.

Static GK Information:

Tabular Summary:

---

---

Over All Review

DOWNLOAD TODAY’S CURRENT AFFAIRS PDF – CLICK HERE

You Must Also Read Daily Current Affairs August 01