Daily Current Affairs August 07

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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 07 | Daily Current Affairs 2024

Important Days – Daily Current Affairs August 07

1. On which date is National Javelin Day celebrated in India to honor Neeraj Chopra’s historic Olympic gold medal?
A) August 15
B) August 12
C) August 7
D) July 23
E) September 1
Answer: C) August 7

Event and Location:

• Event: National Javelin Day
• Location: India
• Significance:
  • Commemorates Neeraj Chopra’s historic gold medal in the men’s javelin throw at the Tokyo Olympics on August 7, 2021.
  • First-ever gold medal in track and field for India at the Olympics.

Mandates and Objectives:

• Designated by: Athletics Federation of India
• Purpose:
  • Honour Neeraj Chopra’s Achievement: To recognize his 87.58-meter throw that won India’s first Olympic gold in track and field.
  • Promote Javelin Throwing: Encourage the sport of javelin throwing across the country.

Important Terms Explained:

• National Javelin Day:
  • Celebrated on August 7 to honor Neeraj Chopra’s gold medal win at the Tokyo Olympics.
• Athletics Federation of India (AFI):
  • Governing body for athletics in India, responsible for promoting and managing athletic events and disciplines.

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Sports – Daily Current Affairs August 07

2. Which Indian cricketer was signed by Paarl Royals for the third season of the SA20 League?
A) Virat Kohli
B) MS Dhoni
C) Dinesh Karthik
D) Rohit Sharma
E) Suresh Raina
Answer: C) Dinesh Karthik

Event and Location:

• Event: Dinesh Karthik’s signing by Paarl Royals
• Location: New Delhi, India / South Africa (SA20 League)
• Significance:
  • Dinesh Karthik becomes the first Indian cricketer to participate in the South African SA20 League.

Mandates and Objectives:

• Role: Player for Paarl Royals
• Purpose:
  • Return to Competitive Cricket: After retiring in June 2023, Karthik will return to play in a T20 league.
  • Mentorship and Coaching: Continues his role as a mentor-cum-batting coach for Royal Challengers Bangalore (RCB) in the IPL.

Important Terms Explained:

• SA20 League:
  • A professional Twenty20 cricket league in South Africa, featuring various franchises.
• Paarl Royals:
  • A franchise team in the SA20 League, associated with the Rajasthan Royals of the IPL.

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Banking and Finance – Daily Current Affairs August 07

3. What is the maximum limit for GST payment through UPI mode at Karnataka Bank?
A) ₹50,000
B) ₹75,000
C) ₹1 lakh
D) ₹2 lakh
E) ₹5 lakh
Answer: C) ₹1 lakh

Event and Location:

• Event: Introduction of GST payment through UPI by Karnataka Bank
• Location: Mangaluru, Karnataka, India
• Date: Announced on August 7, 2024
• Significance:
  • Karnataka Bank becomes one of the banks facilitating GST payments via UPI, providing an additional and convenient payment method for GST-registered users.

Mandates and Objectives:

• New Feature: GST payment through UPI (Unified Payments Interface) mode
• Maximum Payment Limit: ₹1 lakh per transaction
• Beneficiaries:
  • GST-Registered Users: This facility is available to all GST-registered users, including Karnataka Bank customers.
• Existing Services:
  • Karnataka Bank already offers GST payments through its branches and internet banking on behalf of the Central Board of Indirect Taxes and Customs (CBIC).

Important Terms Explained:

• UPI (Unified Payments Interface):
  • A real-time payment system developed by the National Payments Corporation of India (NPCI) that allows instant money transfers between bank accounts through mobile devices.
• GST (Goods and Services Tax):
  • An indirect tax levied on the supply of goods and services in India, which has replaced many other indirect taxes.

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4. Which companies have partnered to offer non-life insurance policies to Mahindra Finance customers?
A) ICICI Lombard and SBI
B) Chola MS and HDFC Bank
C) Tata AIG and Bajaj Finance
D) Chola MS and Mahindra Finance
E) New India Assurance and Mahindra Finance
Answer: D) Chola MS and Mahindra Finance

Event and Location:

• Event: Partnership to offer non-life insurance policies
• Location: Announced in Chennai, India
• Date: August 7, 2024
• Significance:
  • Chola MS General Insurance and Mahindra Finance have teamed up to offer comprehensive motor and other non-life insurance solutions to over 10 million Mahindra Finance customers.

Mandates and Objectives:

• Partnership:
  • Chola MS General Insurance: Provider of non-life insurance products.
  • Mahindra Finance: One of India’s leading non-banking financial companies (NBFCs), focusing on rural and semi-urban areas.
• Objective:
  • To provide comprehensive insurance solutions, including motor insurance, to a vast customer base.
• Impact on Share Prices:
  • Mahindra Finance: The share price rose by 9.90 points to close at ₹303.05 in NSE and by 9.55 points to close at ₹302.70 in BSE, indicating positive market reception to the partnership.

Important Terms Explained:

• Non-Life Insurance:
  • Insurance policies that provide financial protection for losses related to property, motor vehicles, health, and other risks excluding life insurance.
• NSE (National Stock Exchange) & BSE (Bombay Stock Exchange):
  • Major stock exchanges in India where the shares of companies are traded.

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Appointments – Daily Current Affairs August 07

5. Who will lead the interim government in Bangladesh that is set to be sworn August 08?
A) Sheikh Hasina
B) Mohammed Shahabuddin
C) Waker-Uz-Zaman
D) Muhammad Yunus
E) Nahid Islam
Answer: D) Muhammad Yunus

Event and Location:

• Event: Swearing-in of Bangladesh’s Interim Government
• Location: Bangladesh
• Significance:
  • Muhammad Yunus, a Nobel Laureate, appointed to lead the interim government following the removal of Prime Minister Sheikh Hasina.

Mandates and Objectives:

• Led by: Muhammad Yunus as Chief Adviser
• Purpose:
  • Steer the Nation: Guide Bangladesh through a “democratic process” amid political turmoil.
  • Advisory Council: Yunus will head a council of 15 members to address the country’s current challenges.

Important Terms Explained:

• Interim Government:
  • A temporary government established to manage state affairs during a period of transition.
• Chief Adviser:
  • Title held by Muhammad Yunus, indicating his leadership role in the interim government.

Static GK Information:

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6. Who has taken over as the 22nd Director General of Assam Rifles?
A) Lt Gen (retd) PC Nair
B) Lt Gen (retd) Waker-Uz-Zaman
C) Lt Gen Vikas Lakhera
D) Lt Gen Neeraj Chopra
E) Lt Gen Adille Sumariwalla
Answer: C) Lt Gen Vikas Lakhera

Event and Location:

• Event: Appointment of Lt Gen Vikas Lakhera as Director General of Assam Rifles
• Location: Guwahati, Assam
• Significance:
  • Lt Gen Lakhera succeeds Lt Gen (retd) PC Nair as the 22nd Director General of Assam Rifles.

Mandates and Objectives:

• Role: Director General of Assam Rifles (DGAR)
• Responsibilities:
  • Commanding the oldest paramilitary force in India, focused on counter-insurgency and border security in the Northeast region.

Important Terms Explained:

• Assam Rifles:
  • A paramilitary force under the Ministry of Home Affairs, primarily tasked with counter-insurgency operations and guarding India’s northeastern borders.
• Director General of Assam Rifles (DGAR):
  • The highest-ranking officer responsible for commanding the Assam Rifles, ensuring operational efficiency and strategic leadership.

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7. Who has been appointed as the new Chairman of State Bank of India (SBI)?
A) Dinesh Kumar Khara
B) Rajnish Kumar
C) Challa Sreenivasulu Setty
D) Arundhati Bhattacharya
E) Rana Ashutosh Kumar Singh
Answer: C) Challa Sreenivasulu Setty

Event and Location:

• Event: Appointment of Challa Sreenivasulu Setty as Chairman of State Bank of India (SBI)
• Location: New Delhi, India
• Significance:
  • Setty’s appointment marks a significant leadership change at India’s largest commercial bank, effective from August 28, 2024.

Mandates and Objectives:

• Position: Chairman of State Bank of India
• Appointed by: Appointments Committee of the Cabinet (ACC)
• Term Length: Three years from the date of assuming office, or until further orders.
• Predecessor: Dinesh Kumar Khara, who is set to retire on August 28, 2024, upon reaching the age of 63.

Important Terms Explained:

• State Bank of India (SBI):
  • Role: The largest commercial bank in India, offering a wide range of banking products and services.
  • Importance: Plays a crucial role in the financial system of India.
• Challa Sreenivasulu Setty:
  • Previous Role: Managing Director overseeing Global Markets & Technology at SBI.
  • Experience: Extensive experience in corporate credit, retail banking, digital banking, international banking, and operations in developed markets.
• Financial Services Institutions Bureau (FSIB):
  • Recommended Setty for the Chairman position at SBI.

Static GK Information:

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8. Who has been appointed as the new Managing Director and CEO of Coromandel International?
A) V. Suryanarayanan
B) Ramesh Iyer
C) Challa Sreenivasulu Setty
D) S. Sankarasubramanian
E) S. P. Singh Baghel
Answer: D) S. Sankarasubramanian

Event and Location:

• Event: Appointment of S. Sankarasubramanian as MD and CEO
• Location: Hyderabad, Telangana, India
• Date: Announced on August 7, 2024
• Significance:
  • S. Sankarasubramanian has been appointed as the Managing Director and Chief Executive Officer of Coromandel International, a Murugappa Group company known for its agri solutions.

Mandates and Objectives:

• Previous Role:
  • S. Sankarasubramanian: He was previously the Executive Director of Coromandel International’s Nutrient Business.
• New Role:
  • Managing Director & CEO: He will now lead the company, focusing on its strategic direction and overall growth.

Important Terms Explained:

• Coromandel International:
  • A leading agri-solutions provider in India, part of the Murugappa Group, involved in the production and marketing of fertilizers, crop protection products, and specialty nutrients.

Static GK Information:

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Defence – Daily Current Affairs August 07

9. Which Indian Naval Ship conducted the Maritime Partnership Exercise with the German Navy on August 5, 2024?
A) INS Vikrant
B) INS Tabar
C) INS Shivalik
D) INS Kalvari
E) INS Chakra
Answer: B) INS Tabar

Event and Location:

• Event: Maritime Partnership Exercise (MPX)
• Location: Off Kiel Canal, Germany
• Date: August 5, 2024
• Significance:
  • The exercise between INS Tabar and the German Navy’s Sea Lynx marked a significant milestone in maritime cooperation between India and Germany.

Mandates and Objectives:

• Participating Units:
  • Indian Navy: INS Tabar, a frontline frigate
  • German Navy: Sea Lynx helicopter from the 3rd Squadron Naval Air Wing 5 (MFG5)
• Purpose:
  • Strengthening maritime relations between India and Germany.
  • Enhancing collaboration and interoperability through advanced maritime operations.
• Operations Conducted:
  • Ship Controlled Approaches
  • Winching exercises
  • Vertical Replenishment (VERTREP) serials

Important Terms Explained:

• INS Tabar:
  • A Talwar-class frigate of the Indian Navy, actively involved in international maritime exercises.
• Maritime Partnership Exercise (MPX):
  • A naval exercise aimed at improving coordination and operational synergy between participating navies.
• Sea Lynx:
  • A multi-role helicopter used by the German Navy, known for its capabilities in anti-submarine warfare, search and rescue, and other maritime roles.

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National Affairs – Daily Current Affairs August 07

10. How much total investment was made for the Namami Gange Mission 2.0 projects operationalized in Uttar Pradesh and Bihar?
A) Rs 500 crore
B) Rs 750 crore
C) Rs 920 crore
D) Rs 1000 crore
E) Rs 1200 crore
Answer: C) Rs 920 crore

Event and Location:

• Event: Operationalization of Namami Gange Mission 2.0 projects
• Location: Uttar Pradesh and Bihar, India
• Significance:
  • The central government has operationalized four major projects under the Namami Gange Mission 2.0, aimed at improving the water quality of the Ganga River.

Mandates and Objectives:

• Investment: Rs 920 crore
• Key Deliverables:
  • Sewage Treatment Capacity: Addition of 145 MLD (Megaliters per day)
  • Sewer Networks: Expansion and improvement in Uttar Pradesh and Bihar.
• Technology Used:
  • Projects are based on the Advanced Sequencing Batch Reactor technology.
  • Adherence to the stringent standards set by the National Green Tribunal (NGT).
• Model: Projects executed under the Hybrid Annuity PPP (HAM) model.

Important Terms Explained:

• Namami Gange Mission 2.0:
  • A government initiative aimed at cleaning and rejuvenating the Ganga River by improving sewage treatment infrastructure and ensuring better management of water resources.
• Hybrid Annuity PPP (HAM) Model:
  • A public-private partnership model where the government and private sector share the financial risk, with the government providing a fixed revenue stream to the private partner.
• National Green Tribunal (NGT):
  • A specialized body established in 2010 for the expeditious disposal of cases relating to environmental protection and conservation of forests and other natural resources.

Static GK Information:

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11. Which country received India’s first export of GI-tagged fig juice from Purandar Highlands?
A) Germany
B) France
C) Poland
D) Spain
E) Italy
Answer: C) Poland

Event and Location:

• Event: Export of India’s first GI-tagged fig juice
• Location: Purandar Highlands, India to Poland
• Significance:
  • This marks the first time Indian fig juice, specifically made from GI-tagged Purandar Figs, is exported to the European market.

Mandates and Objectives:

• Product: Fig juice made from GI-tagged Purandar Figs
• Exporting Entity: Purandar Highlands Farmers Producer Company Ltd
• Destination: Poland, Europe

Important Terms Explained:

• GI Tag (Geographical Indication):
  • A GI tag is a certification that a product possesses certain qualities, is made according to traditional methods, or enjoys a certain reputation due to its geographical origin.
• Purandar Figs:
  • A variety of figs grown in the Purandar region of Maharashtra, India, known for their sweet taste, size, and nutritional benefits.

Static GK Information:

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12. Which company has collaborated with Gati Shakti Vishwavidyalaya to launch the first executive training program for the aviation sector?
A) Boeing
B) Airbus
C) SpiceJet
D) IndiGo
E) Air India
Answer: B) Airbus

Event and Location:

• Event: Launch of the first executive training program for the aviation sector
• Location: New Delhi, India
• Significance:
  • The program is a collaboration between Gati Shakti Vishwavidyalaya and Airbus, aimed at enhancing the skills of professionals in the aviation sector.

Mandates and Objectives:

• Program Duration: Three days
• Focus Area: Safety Management Systems in aviation
• Participants:
  • Professionals from leading airlines, Airbus representatives, Ministry of Civil Aviation officials.
  • International professionals from Nepal and Bhutan are also attending.

Important Terms Explained:

• Gati Shakti Vishwavidyalaya:
  • A specialized university focused on education and training in infrastructure, logistics, and transportation sectors.
• Safety Management Systems (SMS):
  • A systematic approach to managing safety, including the necessary organizational structures, accountabilities, policies, and procedures.

Static GK Information:

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13. What is the primary aim of the newly launched Digital Shakti Centre by NCW?
A) To promote online shopping
B) To empower women against cybercrime
C) To offer online education
D) To develop mobile applications
E) To promote digital marketing
Answer: B) To empower women against cybercrime

Event and Location:

• Event: Launch of the Digital Shakti Centre
• Location: New Delhi, India
• Significance:
  • The initiative is aimed at addressing the rising issue of cyber crimes against women in India, providing them with the necessary tools and resources to navigate the digital world safely.

Mandates and Objectives:

• Launched by: National Commission for Women (NCW) in collaboration with CyberPeace Foundation
• Key Objectives:
  • Awareness: Educating women about the dangers of cyber crimes like identity theft, cyberstalking, and sexual exploitation.
  • Support: Offering technical support to women in registering complaints related to cybercrimes.
  • Empowerment: Empowering women to protect themselves online.
  • Timely Solutions: Ensuring that solutions to cybercrime issues are provided promptly.
  • Safe Online Spaces: Creating a safer digital environment for women across India.

Important Terms Explained:

• National Commission for Women (NCW):
  • A statutory body of the Government of India, responsible for advising the government on all policy matters affecting women.
• CyberPeace Foundation:
  • A non-profit organization focused on promoting peace in cyberspace, including initiatives to combat cybercrime.

Static GK Information:

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14. Which initiative was launched by the Ministry of Panchayati Raj to enhance transparency, accountability, and effectiveness in Panchayats?
A) BharatNet Project
B) Digital Shakti Campaign
C) eGramSwaraj
D) AuditOnline
E) Citizen Charter
Answer: C) eGramSwaraj

Event and Location:

• Event: Implementation of e-Panchayat Mission Mode Project (MMP)
• Location: India, under the Ministry of Panchayati Raj
• Significance:
  • Aimed at making Panchayats more transparent, accountable, and effective as local self-governments through digital platforms.

Mandates and Objectives:

• Initiative Launched: eGramSwaraj on April 24, 2020
• Key Features of eGramSwaraj:
  • Comprehensive digital platform for Panchayat functions including planning, budgeting, accounting, monitoring, asset management, and online payments.
  • Significant adoption across India, with 2.44 lakh Gram Panchayats (GPs) uploading their Development Plans (GPDPs) for 2024-25.
  • 2.06 lakh Panchayats completed online transactions for 15th Finance Commission grants.
• Supporting Application: AuditOnline
  • Facilitates online audit of Panchayat accounts for transparency and accountability.
  • 2.52 lakh Audit Plans created and 2.48 lakh Audit Reports generated for FY 2022-23.

Important Terms Explained:

• e-Panchayat Mission Mode Project (MMP):
  • A Digital India initiative aimed at digitalizing Panchayat functions to improve governance at the grassroots level.
• BharatNet Project:
  • A project to connect all Gram Panchayats by broadband, with 2.17 lakh GPs made service-ready so far.
• Citizen Charter:
  • A framework for delivering services across 29 sectors aligned with Sustainable Development Goals (SDGs), adopted by over 2.32 lakh GPs.

Static GK Information:

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15. Who chaired the roundtable consultation with executive search firms at IICA on August 2, 2024?
A) Dr. Niraj Gupta
B) Mr. Mathew John
C) Dr. Ajay Bhushan Pandey
D) Mr. Manoj Singh
E) Mr. Rajesh Sharma
Answer: C) Dr. Ajay Bhushan Pandey

Event and Location:

• Event: Roundtable Consultation with Executive Search Firms
• Location: Indian Institute of Corporate Affairs (IICA), Gurugram, India
• Date: August 2, 2024
• Significance:
  • Aimed at enhancing board composition and governance in Indian corporations through collaboration with executive search firms.

Mandates and Objectives:

• Chaired by: Dr. Ajay Bhushan Pandey, Chairman, Director General & CEO of IICA, and Chairman of National Financial Reporting Authority (NFRA)
• Purpose:
  • Enhance Board Governance: Strengthen the composition and effectiveness of Indian boardrooms.
  • Collaboration with Executive Search Firms: Engage with industry stakeholders to improve board member recruitment practices.
  • Discussion Topics:
    • Insights from executive search firms on board practices and director selection.
    • Value propositions of the Independent Director Databank (IDDB) to the industry.
    • Strategies to enhance search firms’ access to and utilization of the IDDB.
    • Opportunities for collective enhancement of search firm engagement by corporates.
  • Outcome: The consultation provided valuable insights that will shape future strategies and initiatives by IICA to promote corporate governance excellence in India.

Important Terms Explained:

• Independent Director Databank (IDDB):
  • A repository designed to provide a platform for individuals to register as independent directors and for companies to search for qualified independent directors, enhancing corporate governance.
• Indian Institute of Corporate Affairs (IICA):
  • An autonomous institution under the Ministry of Corporate Affairs, Government of India, focused on capacity building, research, and advocacy in corporate governance, business responsibility, and related areas.

Static GK Information:

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16. Which river linking project has been approved by the Maharashtra government with an estimated cost of ₹87,342 crore?
A) Krishna-Godavari
B) Wainganga-Nalganga
C) Tapi-Purna
D) Godavari-Penna
E) Damanganga-Pinjal
Answer: B) Wainganga-Nalganga

Event and Location:

• Event: Approval of the Wainganga-Nalganga River Linking Project
• Location: Maharashtra, India
• Date: Approved during a Cabinet meeting on August 7, 2024
• Significance:
  • The project aims to transform agriculture in drought-prone areas, particularly Marathwada, which has been severely affected by water scarcity and farmer suicides.

Mandates and Objectives:

• Project Cost: ₹87,342.86 crore
• Key Benefits:
  • Irrigation Coverage: The project will irrigate approximately 3.75 lakh hectares of land.
  • Target Areas: Primarily benefits drought-prone regions like Marathwada.
• Goal:
  • To enhance agricultural productivity and alleviate water scarcity in regions plagued by drought and farmer distress.

Important Terms Explained:

• River Linking Project:
  • An initiative aimed at connecting two or more rivers to ensure the equitable distribution of water resources across regions.
• Marathwada:
  • A region in Maharashtra known for its recurrent droughts and water scarcity issues, making it one of the focus areas for irrigation and water management projects.

Static GK Information:

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