Daily Current Affairs August 05

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 05. 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 05 | Daily Current Affairs 2024

Sports – Daily Current Affairs August 05

1. Who won the gold medal in men’s singles tennis at the 2024 Olympics?
A) Rafael Nadal
B) Andy Murray
C) Novak Djokovic
D) Carlos Alcaraz
E) Alexander Zverev
Answer: C) Novak Djokovic

Event and Location:

• Event: Men’s Singles Tennis Final, Olympics 2024
• Location: Paris, France

Mandates and Objectives:

• Objective: Win the Olympic gold medal in men’s singles tennis.
• Mandate: Novak Djokovic aimed to achieve the only major accolade missing from his career, the Olympic gold medal.

Important Terms Explained:

• Olympics: A global sports event held every four years with summer and winter editions.
• Grand Slam Titles: The four major annual tennis tournaments – Australian Open, French Open, Wimbledon, and US Open.
• Meniscus: Cartilage in the knee joint that acts as a cushion between bones.

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2. Who won the gold medal in the men’s 100-meter sprint at the 2024 Olympics?
A) Usain Bolt
B) Andre De Grasse
C) Fred Kerley
D) Noah Lyles
E) Trayvon Bromell
Answer: D) Noah Lyles

Event and Location:

• Event: 2024 Olympics, Men’s 100-Meter Sprint
• Location: Paris, France

Mandates and Objectives:

• Objective: To compete in and win the 100-meter sprint at the 2024 Olympics.
• Mandate: Noah Lyles aimed to secure a victory in the 100-meter sprint, marking a significant achievement in his athletic career by becoming the first American man to win this event in 20 years.

Important Terms Explained:

• Photo Finish: A close race where the winner is determined by a review of the race’s finish line photograph.
• 100-Meter Sprint: A short-distance race in track and field athletics, often considered the benchmark for determining the fastest human.

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Banking and Finance – Daily Current Affairs August 05

3. How will SEBI now require mutual funds to value AT-1 bonds?
A) Based on maturity date
B) Yield to Call basis
C) Face value
D) Market price
E) Discounted cash flow
Answer: B) Yield to Call basis

Event and Location:

• Event: SEBI’s new valuation norms for AT-1 bonds
• Location: India

Mandates and Objectives:

• Objective: To align the valuation methodology of AT-1 bonds with market practices and the recommendations of the National Financial Reporting Authority (NFRA).
• Mandate: SEBI has directed mutual funds to value their investments in AT-1 bonds based on the Yield to Call method to ensure consistency with market-based measurement principles.

Important Terms Explained:

• AT-1 Bonds: Additional Tier 1 bonds are perpetual bonds issued by banks, having no maturity date, but paying interest indefinitely. They are considered high-risk instruments often treated as equity rather than debt.
• Yield to Call: The yield calculated assuming that the bond will be called (repurchased) by the issuer before maturity, rather than holding it to maturity.
• Macaulay Duration: A measure of the weighted average time until cash flows from a bond are received, used to assess the interest rate risk of a bond.

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Business and Economy – Daily Current Affairs August 05

4. What was India’s fiscal deficit as a percentage of the budget estimate for the April-June FY25 quarter?
A) 10.2%
B) 15.3%
C) 20.4%
D) 8.1%
E) 25.3%
Answer: D) 8.1%

Event and Location:

• Event: India’s Fiscal Deficit Report for Q1 FY25
• Location: India

Mandates and Objectives:

• Objective: To manage the fiscal deficit within budgeted targets while ensuring adequate government expenditure.
• Mandate: The government aimed to reduce the fiscal deficit through efficient revenue collection, despite election-related muted capital expenditure.

Important Terms Explained:

• Fiscal Deficit: The difference between the government’s total revenue and total expenditure.
• Budget Estimate (BE): The estimated government revenue and expenditure set for the fiscal year.
• Capital Expenditure: Funds used by the government to acquire or maintain physical assets like infrastructure.
• Revenue Receipts: Income received by the government from taxes and other sources, excluding loans.

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5. What is India Ratings & Research’s revised GDP growth forecast for FY25?
A) 6.5%
B) 7.1%
C) 7.2%
D) 7.5%
E) 8.0%
Answer: D) 7.5%

Event and Location:

• Event: Revision of India’s GDP Growth Forecast for FY25 by India Ratings & Research (Ind-Ra)
• Location: India

Mandates and Objectives:

• Objective: To update India’s GDP growth forecast based on economic indicators.
• Mandate: Ind-Ra raised the FY25 GDP growth forecast from 7.1% to 7.5%, driven by improved consumption demand, government capital expenditure, and deleveraged corporate and bank balance sheets.

Important Terms Explained:

• GDP (Gross Domestic Product): The total monetary value of all goods and services produced within a country’s borders in a specific time period.
• Capex (Capital Expenditure): Funds used by the government or businesses to acquire, upgrade, and maintain physical assets such as infrastructure, equipment, and buildings.
• Private Final Consumption Expenditure (PFCE): The expenditure incurred by households on goods and services for their own use, which is a major component of GDP.

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Appointments – Daily Current Affairs August 05

6. Who recently took over as the Director General of the Border Security Force (BSF)?
A) Nitin Agarwal
B) Yogesh Khurania
C) Rakesh Asthana
D) Daljit Singh Chawdhary
E) Kuldiep Singh
Answer: D) Daljit Singh Chawdhary

Event and Location:

• Event: Appointment of the new Director General of the Border Security Force (BSF)
• Location: India

Mandates and Objectives:

• Objective: To strengthen and lead the BSF in safeguarding India’s borders with Pakistan and Bangladesh.
• Mandate: Daljit Singh Chawdhary is tasked with overseeing BSF operations and responding to security challenges along India’s international borders.

Important Terms Explained:

• BSF (Border Security Force): A paramilitary force of India charged with guarding the country’s land border during peacetime and preventing transnational crime.
• SSB (Sashastra Seema Bal): A border patrol organization under the Ministry of Home Affairs, responsible for guarding India’s borders with Nepal and Bhutan.
• Central Deputation: A term referring to the assignment of an Indian Police Service (IPS) officer to a central government post, often outside their home cadre.

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7. Who has been re-elected as the president of the Academy of Motion Picture Arts and Sciences?
A) Donna Gigliotti
B) Bill Kramer
C) DeVon Franklin
D) Janet Yang
E) Lynette Howell Taylor
Answer: D) Janet Yang

Event and Location:

• Event: Re-election of Janet Yang as President of the Academy of Motion Picture Arts and Sciences
• Location: Hollywood, California, USA

Mandates and Objectives:

• Objective: To lead the Academy in its mission to support and celebrate the global filmmaking community.
• Mandate: Janet Yang’s leadership focuses on advancing the Academy’s mission, supporting its members, and promoting equity, inclusion, and financial stability within the organization.

Important Terms Explained:

• Academy of Motion Picture Arts and Sciences (AMPAS): A professional honorary organization known for its annual Oscars (Academy Awards), dedicated to the advancement of the arts and sciences of motion pictures.
• Governor-at-Large: A board position within AMPAS, allowing individuals to help guide the Academy’s policies and strategic direction.

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National Affairs – Daily Current Affairs August 05

8. Where was the 32nd International Conference of Agricultural Economists inaugurated?
A) Mumbai
B) Chennai
C) Kolkata
D) Bengaluru
E) New Delhi
Answer: E) New Delhi

Event and Location:

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

Mandates and Objectives:

• Objective: Address global agricultural challenges with a focus on sustainable agriculture.
• Mandate: To provide a platform for discussion and collaboration among global agricultural economists, researchers, and policymakers, focusing on sustainable agri-food systems.

Important Terms Explained:

• International Association of Agricultural Economists (IAAE): An association that organizes the International Conference of Agricultural Economists (ICAE) to discuss pressing agricultural economic issues globally.
• Sustainable Agri-Food Systems: Agricultural systems that are efficient, environmentally friendly, and capable of meeting the needs of present and future generations while ensuring food and nutritional security.

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9. Where is the “VIRAASAT” exhibition celebrating the 10th National Handloom Day being held?
A) Mumbai
B) Kolkata
C) New Delhi
D) Chennai
E) Hyderabad
Answer: C) New Delhi

Event and Location:

• Event: “VIRAASAT” Exhibition to celebrate the 10th National Handloom Day
• Location: Handloom Haat, Janpath, New Delhi

Mandates and Objectives:

• Objective: To celebrate National Handloom Day and promote India’s handloom heritage.
• Mandate: The exhibition provides a platform for handloom weavers and artisans to showcase and sell their products, thereby connecting them directly with the market. It also aims to increase awareness of the cultural significance and craftsmanship of Indian handloom products.

Important Terms Explained:

• National Handloom Day: Celebrated on 7th August every year to honor the handloom weaving community and their contribution to the socio-economic development of India.
• Handloom: A traditional form of weaving done by hand, representing India’s rich cultural heritage, employing millions of artisans.

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10. Which ministers released the commemorative stamps for the Paris 2024 Olympics in New Delhi?
A) Mansukh Mandaviya and Anurag Thakur
B) Jyotiraditya Scindia and Anurag Thakur
C) Mansukh Mandaviya and Jyotiraditya Scindia
D) Amit Shah and Rajnath Singh
E) Narendra Modi and Amit Shah
Answer: C) Mansukh Mandaviya and Jyotiraditya Scindia

Event and Location:

• Event: Release of Commemorative Stamps for Paris 2024 Olympics
• Location: New Delhi, India

Mandates and Objectives:

• Objective: To commemorate the 33rd Olympics Paris 2024 and celebrate India’s commitment to sports.
• Mandate: The stamps serve as a symbol of national pride and encouragement for athletes, reflecting India’s dedication to promoting sports and supporting its athletes.

Important Terms Explained:

• Commemorative Stamps: Special postage stamps issued to honor and remember significant events, personalities, or themes.
• Khelo India Programme: A national program initiated by the Indian government to encourage sports at the grassroots level and develop sports infrastructure.
• TOPS (Target Olympic Podium Scheme): An initiative to support Indian athletes in their preparations for the Olympics and other international events.

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11. Which apps were launched by Amit Shah in Chandigarh for the three new criminal laws?
A) e-Summon and e-Sakshya
B) Nyaya Setu and Nyaya Shruti
C) e-Sakshya, Nyaya Setu, Nyaya Shruti, and e-Summon
D) e-Court and Nyaya Setu
E) Nyaya Sakshya and e-Court
Answer: C) e-Sakshya, Nyaya Setu, Nyaya Shruti, and e-Summon

Event and Location:

• Event: Launch of e-Sakshya, Nyaya Setu, Nyaya Shruti, and e-Summon Apps
• Location: Chandigarh, India

Mandates and Objectives:

• Objective: To modernize and improve the criminal justice system in India through the implementation of new apps and laws.
• Mandate: The apps are designed to streamline judicial processes and ensure timely justice, reflecting the spirit of the new criminal laws in India.

Important Terms Explained:

• Bharatiya Nyaya Sanhita (BNS): Replaces the Indian Penal Code (IPC) and aims to modernize India’s criminal justice framework.
• Bharatiya Nyaya Suraksha Sanhita (BNSS): Replaces the Code of Criminal Procedure (CrPC) to better reflect the needs of contemporary India.
• Bharatiya Sakshya Adhiniyam (BSA): Replaces the Evidence Act, bringing reforms to the evidence laws in India.
• e-Sakshya: A digital platform designed to manage evidence and related processes.
• Nyaya Setu: An application aimed at improving access to justice for citizens.
• Nyaya Shruti: A platform focusing on legal information dissemination.
• e-Summon: An app that facilitates the issuance and management of summons in legal proceedings.

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Over All Review

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