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 12&13 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 – 12 & 13 August 2022
RBI cancels licence of Rupee Co-operative Bank, Pune
RBI has cancelled the licence of Rupee Co-operative Bank Ltd, Pune, will be effective after six weeks (September 22, 2022).
Reason: The bank is unable to pay its present depositors in full (capital inadequacy).
It does not comply with the provisions of Section 11(1) and Section 22 (3) (d) with Section 56 of the Banking Regulation Act, 1949. The bank has also prohibited from conducting the business of ‘banking’ which includes, acceptance and repayment of deposits.
YES Bank ties up with IBSFINtech to provide digital services
YES Bank has joined hands with IBSFINtech (TreasuryTech Solution provider) to explore digital services for corporate clients.
This partnership will strengthen the corporate treasury ecosystem with a strong decision-making tool and automated workflows.
It will provide connectivity between a corporate’s ERP (Enterprise resource planning) and a bank’s solutions.
YES Bank MD & CEO: Prashant Kumar;
Headquarters: Mumbai
Russia successfully launches Iran’s satellite into orbit
A Russian rocket has successfully launched an Iranian satellite named Khayyam, into orbit by the Soyuz rocket from the Russia-leased Baikonur launch facility in Kazakhstan.
The name of satellite was named after Omar Khayyam, a Persian scientist who lived in the 11th and 12th centuries.
The satellite fitted with high-resolution camera will be used for environmental monitoring and will remain fully under its control.
IDFC FIRST Bank joins hands with LetsVenture to support startups
IDFC FIRST Bank and LetsVenture have partnered to support the startup ecosystem by providing curated products and solutions to startups (founders and investors).
IDFC FIRST Bank provides customised solutions to start-ups under its FIRST WINGS programme. With this, it makes IDFC FIRST Bank a preferred banker to all startups on LetsVenture’s Scalix. LetsVenture’s Scalix is a newly launched platform that supports the startUp ecosystem.
IDFC FIRST CEO: V. Vaidyanathan
Manisha Kalyan, Sunil Chhetri named AIFF Footballers of the Year 2021-22
National captain Sunil Chhetri has been named the AIFF Men’s Footballer of the Year for the seventh time, while Manisha Kalyan named the AIFF women’s footballer for the 2021-22 season.
Chhetri and Kalyan were nominated as the winners by their respective national team coaches Igor Stimac and Thomas Dennerby. He is the third highest goal scorer among active international players.
Emerging Footballer of the Year:
Women: Martina Thokchom
Men: Vikram Partap Singh
Cabinet approves India-Australia pact to promote co-production of films
The Union Cabinet has approved the signing of an audio-visual (AV) co-production treaty between India and Australia to promote co-production of films.
Under this umbrella agreements, private, quasi-government or governmental agencies enter contracts to produce films together.
So far, India has has signed 15 audio visual co-production treaties with foreign countries.
Australia has emerged as a preferred destination for shooting of Indian films.
India’s home loan market expected to double in 5 years: SBI report
According to State Bank of India’s economic research report “Ecowrap”, India’s home loan market is currently valued at about ₹24 lakh crore and it is expected to double (₹48 lakh crore) in the next 5 years.
The share of ‘Housing Loans’ in ‘Bank Credit’ has increased to 14.4% in June 2022 from 13.1% in March 2020.
The total home loan portfolio grew by 10% in FY22 in tier-3 and tier-4 areas, faster rate than tier-1 and tier-2 districts.
Axis Bank launches Axis Receivables Suite
Axis Bank becomes the first Indian bank to launch Axis Receivables Suite (ARS), an innovative Cash Management proposition.
Aim: Simplifies Receivables reconciliation, accelerates cash flow, enhances the client experience and reduces the cost of doing business.
ARS is an end-to-end proposition to automate the reconciliation of receivables against sales invoices raised by clients. Benefit for Clients: Know about payments, real-time control over receivables.
SPARK: New Virtual Space Museum Launched By ISRO
The Indian Space Research Organisation (ISRO) has launched a 3D virtual space tech park called SPARK. Celebrating ‘Azadi Ka Amrit Mahotsav’ marking the 75th year of Independence, ISRO inaugurated the virtual park containing information regarding its various missions. The digital platform known as the ‘SPARK’ space museum was launched by the Chairman of ISRO, S Somnath.
Key points
This digital space museum ‘SPARK’ has an interactive interface through which users can interact with the site easily. The platform hosts several documents, images, and videos related to ISRO’s launch of vehicles, satellites, and scientific missions.
The secretary of the Department of Spaces S Somnath and major Directors of various ISRO centers appreciate this initiative. The Directors suggest coming with more non-sensitive digital content on this platform. People can also access a beta version of this application through the official website of ISRO.
About ISRO
The Indian Space Research Organization (ISRO) is the national space agency of India and it is operated under the Department of Space (DOS) which is directly overseen by the Prime Minister of India. ISRO performs tasks related to space-based applications and activities, space exploration, and the development of related technologies. ISRO is one of the six government space agencies in the world which possess full launch capabilities, deploy cryogenic engines, launch extra-terrestrial missions and operate large fleets of artificial satellites.
PNB HFC increases its Unnati portfolio to offer affordable loans
PNB Housing Finance has revamped its ‘Unnati’ loan portfolio to offer affordable housing loans of ₹9-12 lakh to target customers.
PNB Housing has created a small vertical under Unnati which will be different from existing ₹18-19 lakh as affordable housing loans.
In the June quarter, PNB HFC has already opened 10 more branches.
PNB HFC:
- HQ: New Delhi
- MD & CEO: Hardayal Prasad
It was incorporated under the Companies Act, 1956.
Justice Uday Umesh Lalit appointed as 49th Chief Justice of India
President, Droupadi Murmu has approved the appointment of Justice Uday Umesh Lalit as the 49th Chief Justice of India for three months.
He will replace CJI Justice N V Ramana, who will retire on 26th August 2022. He was appointed as Judge of the Supreme Court (SC) in August 2014. He will be the second CJI to be directly elevated to SC from the Bar, after Justice S.M. Sikri (13th CJI).
He was enrolled as an Advocate by the Bar Council of Maharashtra and Goa in 1983.
RBI issues Digital lending norms to curb malpractices
RBI has issued the regulatory framework to make digital lending safe for customers.
The RBI has mandated that digital loans must be credited directly in the bank accounts of borrowers and not through any third party.
Any fees, charges, payable to Lending Service Providers in the credit intermediation process shall be paid directly by Regulated Entities and not by the borrower. Automatic increase in credit limit without explicit consent of borrower is prohibited.
New Changes In The Atal Pension Yojana(APY)
The government has introduced a major change in the Atal Pension Yojana (APY). which was started with the aim of providing pension facilities to those working in the unorganised sector in 2015. And as a result, the Ministry of Finance has now decided not to allow income taxpayers to apply for the APY scheme. According to a gazette notification issued by the Ministry of Finance, a person paying income tax will not be eligible to join the scheme from October 1. According to the gazette notification issued by the Ministry of Finance on August 10, any citizen who is or has been an income tax payer according to the Income Tax Act will not be eligible to join the Atal Pension Yojana from October 1, 2022.
Atal Pension Yojana Entry Rules:
One must be at least 18 years at the time of enrollment in the scheme. The maximum age to apply for the scheme is 40 years. However, with the new rule in place, income taxpayers won’t be able to participate and invest in the scheme from October 1, 2022.
Benefits:
1) It provides a minimum guaranteed pension ranging from Rs 1000 to Rs 5000 on attaining 60 years of age.
2) The amount of pension is guaranteed for lifetime to the spouse on death of the subscriber.
3) In the event of death of both the subscriber and the spouse, the entire pension corpus is paid to the nominee.
LG Manoj Sinha inaugurates “UMEED Market Place” under AVSAR Scheme of AAI
Lieutenant Governor of Jammu and Kashmir, Manoj Sinha has inaugurated “UMEED Market Place” under AVSAR Scheme of Airport Authority of India at Srinagar International airport.
A similar Marketplace was also opened at Jammu Airport and both the outlets will exhibit products of all 20 districts.
Aim: To support local art and artisans of Self Help Groups of J&K Rural Livelihood Mission.
The products of Self Help Groups will get exposed to the national market.
7.3% of Indians owned digital currency in 2021: UN
According to the UN, India’s population has owned 7.3% digital currency and ranked seventh in the list of top 20 global economies for digital currency ownership as share of population.
Ukraine topped the list with 12.7%, followed by Russia (11.9%), Venezuela (10.3%), Singapore (9.4%), Kenya (8.5%) and the US (8.3%).
It also been observed that the global use of cryptocurrencies has increased exponentially during the COVID-19 pandemic (including developing countries).
International Youth Day: 12th August
International Youth Day observed annually on 12th August annually to create awareness about the issues faced by youth.
Theme 2022: Intergenerational solidarity: creating a world for all ages
In 1999, the General Assembly has passed a resolution 54/120, and declared 12 August as International Youth Day.
This decision was made after the recommendation made by the World Conference of Ministers Responsible for Youth (Lisbon, 8-12 August 1998).
NHIDCL, NSDC sign MoU for skill development initiatives
National Highways Infrastructure Development Corporation Limited (NHIDCL) has signed an MoU with National Skill Development Corporation (NSDC).
Purpose: To take up multiple initiatives contributing towards making India the Skill Capital.
Signed by: MD of NHIDCL, Chanchal Kumar and COO & Officiating CEO of NSDC, Ved Mani Tiwari
NHIDCL is a fully owned company of the Ministry of Road Transport & Highways. NSDC is PPP model under Ministry of Skill Development
