Current Affairs for Competitive Exam by Gkseries –31 August 2022

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 31 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 – 31 August 2022

Tata Steel, Punjab Govt ink pact to set up steel plant in Ludhiana

Tata Steel has signed an MoU with Punjab government for setting up a 0.75 MnTPA long products steel plant with a scrap-based electric arc furnace (EAF). This initiative will help to set up the greenfield facility at Kadiana Khurd, Hitech Valley, Ludhiana in Punjab. This step is aligned to the company’s goal of achieving Net Zero carbon emission by 2045.

This steel plant would produce construction grade steel rebar under the Company’s flagship retail brand ‘Tata Tiscon’.

ICICI Bank partners NPCI to launch RuPay credit cards

ICICI Bank has announced its partnership with National Payments Corporation of India (NPCI) to launch a range of credit cards on payments network RuPay. The ICICI Bank RuPay Credit Card is presently available in the Coral variant of the Bank’s Gemstone series.

This will be soon followed by Rubyx and Sapphiro variants. It is a contactless card that comes with a slew of perks and benefits. NPCI was established in 2008 for operating retail payments and settlement systems.

PGIM India Mutual Fund launches Money And Me website

PGIM India Mutual Fund has launched a new investor education and awareness website: MoneyAndMe (https://moneyandme.pgimindiamf.com/).

This website contains exhaustive content on various aspects of personal finance including household budgeting, protection, savings and investing. The company also launched of a consumer awareness campaign – ‘Aapka HappinessPlanned’ to promote the MoneyAndMe Initiative

Aim: To help investors dealing with various financial challenges.

irdai eases firm registration process from 8 to 2 months

irdai chairman, debasish panda has announced that irdai has been eased the registration process of new companies by reducing the time taken to process new applications from 8 to 2 months.

The regulator has created a facilitation cell consisting of two officers for handholding the applicants so that the entity gets its approval to start its operations.

According to irdai data, the insurance penetration in the country is at 4.2% as of 2021, which is higher than china.

J&K LG, Manoj Sinha inaugurates 8th India International MSME Start-up Expo

Lieutenant Governor of Jammu & Kashmir, Manoj Sinha has inaugurated the 8th India International MSME Start-up Expo & Summit at New Delhi. This Expo provides a platform to SMEs, startups, trade, industry, service providers to explore new opportunities for buyers and sellers, and exchange information about federal, state, and local programmes. J&K has one of the fastest growing horticulture markets in the country.

MSME Minister: Narayan Rane

Eminent economist, Abhijit Sen passes away

Renowned economist and former Planning Commission member, Abhijit Sen has been passed away at 72 due to heart attack. In his career, he taught economics at Jawaharlal Nehru University, New Delhi and hold several important government positions including the chair of the Commission of Agricultural Cost and Prices.

He was a member of Planning Commission from 2004 to 2014,  during the tenure of PM Manmohan Singh. He was awarded the Padma Bhushan for public service in 2010.

Reliance Industries to infuse ₹2 lakh cr in Jio 5G

Reliance Industries (RIL) chairman, Mukesh Ambani has announced to invest a whopping ₹2 lakh crore to build its Pan-India true 5G network.

The Reliance Jio Infocomm has prepared an ambitious and fastest ever 5G rollout plan for the country. Jio plans to roll out Jio 5G by this Diwali 2022 in metropolises of Delhi, Mumbai, Kolkata, and Chennai. He also announced that Reliance will launch the Nita Mukesh Ambani Junior School.

• Jio Chairman: Akash Ambani;
• MD: Sandip Das

IIT Madras, IIS- Karnataka partner to develop boxing analytics software

IIT Madras researchers have joined hands with Inspire Institute of Sports, Karnataka to develop an advanced boxing analytics platform named Smartboxer.

Aim: To increase India’s boxing medal tally at the 2024 Olympics.

This multi version software is being developed by the Center of Excellence for Sports Science and Analytics at IIT Madras.

Feature: Provide feedback and performance assessments using Internet of Things (IoT)-enabled wearable sensors and video cameras.

50th All Manipur Shumang Leela Festival 2021-2022 started in Imphal

The 50th edition of All Manipur Shumang Leela Festival 2021-2022 has been started at Iboyaima Shumang Leela Shanglen in Imphal, Manipur. The inaugural function was attended by Manipur Governor, La Ganesan and CM N. Biren Singh.

Shumang Leela:

It is a traditional form of theatre in Manipur. The roles of female artists are all played by male actors and male characters are played by female artists in case of female theatre groups.

President Droupadi Murmu meets with Queen Máxima of Netherlands

President of India, Droupadi Murmu has met with the Queen Máxima of the Netherlands at Rashtrapati Bhavan to discuss the various aspects to strengthen the bilateral relation between India and the Netherlands.

Queen Máxima of Netherland is on a three day visit to India (29-31 August 2022). During their discussion, both leaders discussed the universal financial inclusion initiatives.

• Netherland’s Capital: Amsterdam;
• Currency: Euro

International Day for People of African Descent observed on 31st August

The International Day for People of African Descent will be celebrated for the first time on 31 August 2021. Through this Observance the United Nations aims to promote the extraordinary contributions of the African diaspora around the world and to eliminate all forms of discrimination against people of African descent. International days reflect the values that society shares. All human beings are born free and equal in dignity and rights and have the potential to contribute constructively to the development and well-being of their societies. Any doctrine of racial superiority is scientifically false, morally condemnable, socially unjust, and dangerous and must be rejected, together with theories that attempt to determine the existence of separate human races.

International Day for People of African Descent: History

The International Day for People of African Descent was created only recently by the United Nations and is set to be celebrated internationally for the first time this year. This first observance comes in the midterm of the International Decade for People of African Descent, another U.N. initiative. This has largely influenced the creation of this holiday. According to the U.N., 2020 marked the year of a significant change in the way issues of discrimination and marginalization against people of African descent are addressed on a global scale.

While some progress has been made at legislative, policy and institutional levels, people of African descent continue to suffer intersectional and compounded forms of racial discrimination, marginalization, and exclusion. Five years into the Decade, the COVID-19 pandemic shed light on the urgency to address long-standing structural inequalities and systematic racism in health. The lack of recognition remains one of the major barriers impeding the full and effective enjoyment of human rights by people of African descent.