Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That’s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post, Daily Current Affairs 10&11 August 2022, we have tried to cover each and every point and also included all important facts from National/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc.
Current Affairs for Competitive Exam – 10 & 11 August 2022
Pramod Kumar appointed as CFO of Power Grid Corporation
Board of Directors of the Powergrid Corporation of India Limited has approved the appointment of Pramod Kumar as the Chief Financial Officer (CFO). Prior to this, he served as the Executive Director (Finance) of the company.
He has an experience of 35 years in the Power Sector including Finance and Accounting functions i.e. finalisation of Corporate Accounts, formulation of Capital Budget etc.
Power Grid HQ: Gurgaon;
Chairman & MD: Kandikuppa Sreekant
Microsoft join ONDC to launch a shopping app in India
Microsoft becomes the first global Big Tech Company to join the Open Network for Digital Commerce (ONDC). ONDC is an Indian government initiative for developing a first-of-its-kind open network for digital commerce.
Microsoft has intended to introduce social e-commerce via its app in the Indian market later this year. Initially, the network began its pilot in Delhi, Bengaluru, Coimbatore, Bhopal and Shillong. ONDC is sponsored by the DPITT.
World Biofuel Day 2022: August 10
World Biofuel Day is celebrated annually on August 10 to mark the importance of non-fossil fuels as a replacement for conventional fossil fuels.
On this date, Sir Rudolf Diesel (German) successfully ran his diesel engine on peanut oil. In India, the Ministry of Petroleum and Natural Gas and the Ministry of Environment, Forest and Climate Change started celebrating World Biofuel Day 2015 onwards.
Three types of biofuels used in India:
- Bioethanol
- biodiesel and
- biogas
Google launches ‘India Ki Udaan’ to mark 75 years of independence of India
Google has launched the ‘India ki Udaan’ project to celebrate the 75 years of Independence of India in the presence of Union Culture and Tourism Minister, G Kishan Reddy and other senior officials.
It was executed by Google Arts and Culture. It is based on the theme ‘Unwavering and undying spirit of India over these past 75 years’. The project will use rich archives and feature artistic illustrations to tell the story of India.
Google CEO: Sundar Pichai
Singapore declared Padang as 75th national monument of the country
Singapore has declared its 200-year-old iconic green open space Padang as its 75th national monument as the country celebrates its 57th National Day (9th August).
From this site, Netaji Subhas Chandra Bose had given his ‘Delhi Chalo’ slogan in 1943. From now, the Padang has been preserved and accorded the highest level of protection in Singapore under the Preservation of Monuments Act. The victory parade of Japanese surrender on September 12, 1945 was held on Padang.
44th Chess Olympiad concluded; India’s men & women team win bronze medal
The 44th edition of the Chess Olympiad has been concluded in Chennai, Tamil Nadu. India ‘B’ team (Men’s) comprising D Gukesh, R Praggnanandhaa, Raunak Sadhwaniand and Adhiban won the bronze medal after defeating Germany.
India ‘A’ team (Women’s) comprising Vaishali and Koneru Humphy, Tania Sachdev and Bhakti Kulkari won the bronze medal. The Uzbekistan team won gold medal in the men’s section and Armenia clinched the silver medal.
Asian Championship medalist Kamaraj passes away
Former Athlete, P V Kamaraj has been passed away at 68 due to a massive heart attack in Chennai.
He was a part of the 4x400m Indian men’s relay team that won bronze at the 1979 Asian Championships, Tokyo. He was retired as a Chief Reservation Officer with the Indian Railways and had contributed immensely to athletics in Tiruchi (hometown of Kamaraj). He was a NIS-trained coach and had trained the Tamil Nadu state team for several years.
James Marape sworn in as prime minister of Papua New Guinea for second term
James Marape, who become the prime minister of Papua New Guinea in 2019, has been re-elected as PM of the country for second term. Papua New Guinea has been governed by multi-party coalitions. He joined the PANGU Pati in May 2019 and announced to lead the PANGU Pati.
About Papua New Guinea:
Capital: Port Moresby;
Currency: Kina
It is a South Pacific nation. It got independence from Australia on 16 September 1975. It is rich reserves of copper, gold, and oil
PM Modi dedicate second generation (2G) Ethanol Plant in Panipat, Haryana
PM Narendra Modi has dedicated to the nation the 2nd Generation (2G) Ethanol Plant at Panipat in Haryana through video conferencing. The 2G Ethanol Plant has been built by the Indian Oil Corporation Limited, at an estimated cost of over 900 crore rupees.
The project will utilise about two lakh tonnes of rice straw (parali) annually to generate around three crore litres of Ethanol per annum. It will also contribute to a reduction of Greenhouse Gases.
India’s GDP Growth to be fastest in Asia in FY23: Morgan Stanley
India is likely to be the fastest-growing Asian economy in the Asian region in 2022-23, according to analysts at Morgan Stanley, who expect the expect India’s gross domestic product (GDP) growth to average 7 per cent during this period – the strongest among the largest economies – and contributing 28 per cent and 22 per cent to Asian and global growth, respectively. This makes India the fastest-growing Asian economy in the Asian region in 2022–2023. They claimed that due to the release of dormant demand, the Indian economy is poised for its strongest performance in more than a decade.
India’s GDP growth: Key Points
According to Chetan Ahya, chief Asia economist at Morgan Stanley, the most significant change in India’s structural narrative is the obvious shift in policy emphasis in favour of increasing the economy’s productive potential and India’s GDP growth. He claimed that policymakers have adopted a number of changes that will spur an uptick in the private capex cycle, aid to unleash a potent productivity dynamic, and usher in the start of a virtuous cycle.
This confidence in India’s GDP growth has been greatly aided by a decline in commodity prices, particularly those of crude oil. With oil and commodities prices down between 23 and 37% since their peak in March 2022, Morgan Stanley predicts that macro stability indicators will return to a comfortable level and that the Reserve Bank of India (RBI) may not need to raise rates substantially in the near future.
India’s GDP growth: RBI’s measures
Since May 2022, the RBI has hiked rates cumulatively by 140 basis points (bps) in quick succession, lifting policy rates now to 5.4 per cent, which is a touch above pre-pandemic levels of 5.1 per cent. Along with the decline in commodity prices, the economy’s reopening earlier this year has also contributed to the recovery of India’s GDP growth. According to Morgan Stanley, demand has recently surged as a result of rising mobility and sustained levels above pre-Covid levels.
About Morgan Stanley:
The corporate headquarters of the global American financial services and investment management firm Morgan Stanley is located at 1585 Broadway in Midtown Manhattan, New York City. Clients of the Morgan Stanley firm, which has offices in more than 41 nations and more than 75,000 workers, include businesses, governments, institutions, and people. On the 2021 Fortune 500 list of the biggest American companies by total revenue, Morgan Stanley came in at number 61.
India’s GDP growth: Important Takeaways
- Chief Asia economist at Morgan Stanley: Chetan Ahya
- Governor of RBI: Shaktikanta Das
Dalai Lama received Ladakh highest civilian award, dPal rNgam Duston
14th Dalai Lama (Tibetan spiritual leader) has been honoured with the ‘dPal rNgam Duston’ award, the highest civilian honour of Ladakh.
Reason: For his immense contribution to humanity, especially towards the union territory. The sixth award was conferred by Ladakh Autonomous Hill Development Council (LAHDC), Leh. The ‘dPal rNgam Duston’ is the celebration of the remarkable contribution and achievement of the heroez of Ladakh.
Ladakh LG: Radha Krishna Mathur
American Express launches Global Pay, cross border payments platform
American Express has launched its cross-border payments platform for small to medium-sized businesses named Global Pay.
It will work as a digital solution that will let U.S. businesses make secure domestic and international B2B payments. In addition to this, the eligible customers can earn rewards points on foreign exchange payments. Global Pay is available to all eligible American Express Small Business Card Members in the U.S.
American Express HQ: New York, US
Prof Ramadhar becomes first Indian psychologist on US Heritage Wall of Fame
An Indian professor, Ramadhar Singh has been marked on the ‘Heritage Wall of Fame’ of the Society for Personality and Social Psychology (SPSP) in the United States.
Currently, he is a professor at the Amrut Mody School of Management, Ahmedabad. The Ohio State University, Columbus had nominated Ramadhar Singh for the induction to the ‘Heritage Wall of Fame’. SPSP was established in 1974, is the world’s largest organisation of personality and social psychologist.
HM Amit Shah to e-launch onboarding of cooperatives on GeM portal
HM Amit Shah has e-launched the onboarding of cooperatives on GeM portal, now all eligible cooperatives will be able to place orders on the Government e-Marketplace (GeM) portal.
Total 589 cooperatives have been shortlisted as eligible for onboarding. National Cooperative Union of India has prepared data of cooperatives with turnover and deposits of 100 crore rupees. GeM has been set up as the National procurement portal to provide an end-to-end online marketplace.
13th Edition of Indo-US exercise “Ex Vajra Prahar 2022” started at Bakloh
The 13th Edition of the Indo-US Joint Special Forces exercise, “Ex Vajra Prahar 2022” has started at Bakloh of Himachal Pradesh.
Aim: To share best practices and experiences and also improve inter-operability.
The 12th edition was held at Joint Base Lewis Mcchord, Washington (USA) in October 2021. During the exercise, both armies would jointly train, plan and execute a series of Special Operations, Counter Terrorist Operations, Air Borne operations.
Supreme Court of India: Justice Uday Umesh Lalit appointed 49th CJI
Justice Uday Umesh Lalit was on Wednesday appointed as the 49th Chief Justice of India with President Droupadi Murmu signing his warrant of appointment. He will assume charge on August 27 after incumbent NV Ramana demits office on August 26. He will have a brief tenure as the head of India’s judiciary and will demit office on 8 November after holding the charge as the CJI for nearly three months.
Under which clause Justice Uday Umesh Lalit appointed?
In exercise of the powers conferred by clause (2) of Article 124 of the Constitution of India, the President is pleased to appoint Shri Justice Uday Umesh Lalit, judge of the Supreme Court of India, to be the Chief Justice of India with effect from 27 August 2022.
All you need to know about Justice Lalit:
He was born on 9 November 1957, Justice Lalit enrolled as an advocate in June 1983 and practised in the Bombay High Court till December 1985.He shifted his practice to Delhi in January 1986, and in April 2004, he was designated as a senior advocate by the apex court. Justice Lalit, who was a renowned senior advocate, was appointed a judge of the Supreme Court on 13 August 2014.
He has since been involved in the delivery of several landmark judgements of the apex court. He was appointed a special public prosecutor for the CBI to conduct the trial in the 2G spectrum allocation case. Justice Lalit is due to retire on 8 November this year.
Important takeaways for all competitive exams:
- Supreme Court of India Founded: 26 January 1950, New Delhi;
- Supreme Court of India Established: 26 January 1950.
Telangana launches ‘Nethanna Ku Bima’ Scheme for weavers
Telangana Government has launched ‘Nethanna Ku Bima’ Scheme, an insurance scheme, which covers handloom and powerloom weavers in the State.
This scheme was launched by Telangana Handlooms Minister, KT Rama Rao virtually on the occasion of National Handloom Day.
The insurance coverage scheme will be implemented in association with LIC. In case of natural or accidental death of a weaver, Rs. 5 lakh would be deposited into the nominees’ account within 10 days.
