KARNATAKA , IDBI BANK --ECGC CURRET AFFAIRS 31082022

 

CURRENT AFFAIRS SNIPPETS

31st August 2022

NATIONAL

KYC norms likely for online skill gamers to curb money laundering

 

Online skill gaming, which attracts millions of customers and involves large sums of money, is likely to be brought within the purview of the Prevention of Money Laundering Act (PMLA) in an attempt to thwart money laundering (ML) and terror financing (TL) via such activities.

If platforms facilitating online gaming with stakes are brought within the PMLA’s purview, such companies would have to follow the know your customer (KYC) norms while onboarding users.

The need for such a move arose after investigation agencies failed to track certain money trails because online skill gaming companies did not authenticate their customers by verifying the documents required for a KYC check.

 

 

States News

CM Ashok Gehlot Kicks Off Rural Olympic Games in Rajasthan

Rajasthan chief minister Ashok Gehlot has inaugurated a month-long Rajiv Gandhi Rural Olympic Games in Jodhpur.  The village Olympics is expected to see the participation of 44,000 villages across Rajasthan, with nearly 30 lakh people across various age groups already registering themselves for the games. Out of the 30 lakh participants, 9 lakh are women.  Games like volleyball, hockey, tennis ball cricket and kho kho will be part of the events.
The rural olympics organised in eleven thousand gram panchayats across the state is an outreach to the rural population, especially the rural youth.
Talented sportspersons in these events and promote them further for participation in national and international sports events.

Telangana Tops Inflation Chart At 8.32% 

Telangana, together with West Bengal (8.06%) and Sikkim (8.01%), report charges nicely above the nation’s 6.8%.  India’s retail inflation has been a bugbear for the economic system because it surged previous 6% in January, however, there are huge disparities within the tempo of worth rise skilled by customers throughout the nation, with a dozen States clocking median inflation of lower than 6% and one other 12 States averaging over 7% by way of 2022 thus far.  Retail costs in States like Kerala (4.8%), Tamil Nadu (5.01%), Punjab (5.35%), Delhi (5.56%), and Karnataka (5.84%) have been rising at lower than 6%.  A number of the different main States the place inflation has stayed sharply elevated embody Maharashtra and Haryana (7.7%), Madhya Pradesh (7.52%), Assam (7.37%), Uttar Pradesh (7.27%), Gujarat and J&Ok (7.2%), in addition to Rajasthan (7.1%).

50th All Manipur Shumang Leela Festival 2021-2022 begins

The 50th All Manipur Shumang Leela Festival 2021-2022 kicked off at Iboyaima Shumang Leela Shanglen at Palace Compound in Imphal. Manipur Governor La Ganesan and Chief Minister N. Biren Singh attended the inaugural function.  Shumang Leela is a traditional form of theatre in Manipur and 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.  Shumang Leela Groups of the early stage attempted to preserve and promote humanism, tolerance, confidence, devotion, truth and justice through their performances.

INTERNATIONAL

No state funeral for Soviet leader Mikhail Gorbachev: Russian media

There will be no state funeral for the ex-president of the Soviet Union, Mikhail Gorbachev, Russian media reported on Wednesday. Gorbachev's funeral will reportedly take place inside Moscow's House of Unions and he will likely be buried at the city's Novodevichy Cemetery, next to his wife, Raisa, who died in 1999. The funeral will reportedly take place on Saturday.

Spain's 'Tomatina' festival returns after 2-year-long pandemic hiatus

Spain's famous 'Tomatina' street tomato fight took place in the eastern town of Bunol on Wednesday following a two-year suspension due to the COVID-19 pandemic. Workers on trucks unloaded 130 tonnes of over-ripe tomatoes along the main street of the town for participants to throw at one another. Nearly 20,000 people took part in the celebrations.

Strongest global storm of 2022 moving at 257 km/hr

Super Typhoon Hinnamnor is 2022's most powerful tropical cyclone and is gaining strength over the West Pacific Ocean posing threat to people and livelihoods across Japan, Philippines and China. It's moving across the East China Sea, threatening southern islands of Japan and China's east coast. It's currently packing sustained winds of about 257 km/hr, said US Joint Typhoon Warning Center.

Dennis Woodside appointed as President of Freshworks

Nasdaq-listed software-as-a-service (SaaS) company Freshworks has appointed Dennis Woodside as the company's President, effective from September 1. Woodside will join the company's board of directors and will report to Freshworks CEO and Founder Girish Mathrubootham. Previously, he was President of Impossible Foods, and also worked at Dropbox and Google. At Freshworks, he will lead global business operations.

Google to give ₹25 lakh reward for spotting bugs under new programme

short by Ashley Paul / 08:10 pm on 31 Aug 2022,Wednesday

Google has launched a new Vulnerability Reward Program under which it'll award up to $31,337 (nearly ₹25 lakh) to researchers who spot vulnerabilities in Alphabet and Google's Open Source projects. The rewards will range from $100 to $31,337. The larger amounts will go to unusual or particularly interesting vulnerabilities, "so creativity is encouraged", Google said while launching the programme.

 

Appointments News

Jhansi BJP MP Anurag Sharma Elected As World Body CPA Treasurer 

Member of Parliament from the Jhansi-Lalitpur parliamentary constituency, Anurag Sharma has been elected as the International Treasurer of the Parliamentary Association Conference (CPA) at the 65th Commonwealth Parliamentary Association Conference in Halifax, Canada.  He will now be on the main Executive Council. The election of Sharma made him the second Indian office-bearer in the world’s largest and oldest International Parliamentary Association. His election also meant one more seat was added to India in the CPA, taking the total Indian tally to four executive representatives now.

BUSINESS, BANKING AND ECONOMY

Reliance Industries acquires soft drink brand Campa: Report

Reliance Industries has acquired soft drink brand Campa from Pure Drinks Group to add to its FMCG portfolio, as per reports. The deal is estimated to be ₹22 crore and Reliance is looking to re-launch Campa nationally by Diwali in three flavours. This will include its original Campa Cola, lemon and orange variants.

 

NPCI receives RBI nod to acquire 10% stake in ONDC

The National Payments Corporation of India (NPCI) has received clearance from Reserve Bank of India (RBI) and Union Ministry of Finance to acquire a 10% stake in Open Network for Digital Commerce (ONDC). Reportedly, Bank of India is also looking to acquire 5-7% stake in the company. ONDC currently has 17 stakeholders, and is aiming to have 20.

 

Q1 GDP grows 13.5%; fiscal deficit at 20.5% of FY23 target

India's economy achieved its fastest annual expansion in a year in the April-June quarter, according to data released by the National Statistical Office (NSO) on Wednesday.

India's gross domestic product (GDP) in the three months to June 30, 2022 was 13.5%. However, this is lower than the Reserve Bank of India’s projection of 16.2% GDP growth in Q1FY23. 

The central government's fiscal deficit touched 20.5 per cent of the annual target in the four months through July 2022 as against 21.3 per cent a year ago, reflecting improvement in public finance, as per official data released on Wednesday.

In actual terms, the fiscal deficit - the difference between expenditure and revenue - was Rs 3.41 trillion during the April-July period this financial year.

 

 

IndiGo joins WEF's "Clear Skies for Tomorrow" sustainability campaign 

Clear Skies for Tomorrow: IndiGo, the largest airline in the nation, announced that it has joined a sustainable effort led by the World Economic Forum (WEF).  IndiGo airline has joined the Clear Skies for Tomorrow, India Coalition initiative as a signatory. IndiGo's dedication to deploying sustainable initiatives would help to achieve a substantial scale for SAF (Sustainable Aviation Fuel) to attain a critical mass and bring in cost-efficiency for wide adoption in India.

Ranks and Reports News

Bloomberg Billionaires Index: Gautam Adani becomes world third richest person 

India's Gautam Adani is now the third richest person in the world. The rankings by Bloomberg Billionaires Index come as business conglomerate Adani Group's chairman overtakes Louis Vuitton chairman Bernard Arnault.  With a total net worth of USD 137.4 billion, 60-year-old Adani is now just behind business magnate Elon Musk and Jeff Bezos in the ranking. This is the first time an Asian person has broken into the top three of the Bloomberg Billionaires Index.  In the latest Bloomberg Billionaires Index, Reliance chief Mukesh Ambani is at number 11 with a total of USD 91.9 billion worth.  The net worth of Elon Musk and Jeff Bezos is currently at USD 251 billion and USD 153 billion, respectively.

Awards News

67th Filmfare Awards 2022: Check the complete list of winners

The 67th Filmfare Awards ceremony, presented by The Times Group, honoured the best Indian Hindi-language films of 2021. Held at Jio World Centre, the 67th Filmfare Awards honour the films released in 2021.  At a press conference helmed by the editor of Filmfare magazine, Jitesh Pillai revealed Wolf777news as the title sponsor. Bollywood actors Ranveer Singh and Arjun Kapoor were announced as co-hosts.

Books and Authors News

Autobiography titled “The Hero of Tiger Hill” authored by Subedar Major Yadav

The autobiography “The Hero of Tiger Hill: Autobiography of a Param Vir”, is about the inspiring story of Subedar Major (Honorary Captain) Yogendra Singh Yadav (Retd), the Youngest Param Vir Chakra (PVC) awardee, at the age of 19 for his actions in the 1999 Kargil conflict. This autobiography is published by Srishti Publishers & Distributors.  Subedar Major Yadav’s idea in writing about him began when he was invited to the top colleges in India, he noticed that his simple but honest answers made a lot of impact on young students. His motive in writing the autobiography is to motivate youngsters of India and infuse a sense of patriotism.

A book titled "Indian Banking in Retrospect – 75 years of Independence" by Dr Ashutosh Raravikar 

Director of the Department of Economic & Policy Research(DEPR), Reserve Bank of India (RBI), Dr Ashutosh Raravikar has authored a new book titled “Indian Banking in Retrospect – 75 years of Independence”.  The book is published by Aswad Prakashan Private Limited. Bibek Debroy, Chairman of the Economic Advisory Council to the Prime Minister of India has written the foreword of the book.  The books highlights various economic development such as LPG (Liberalisation Privatisation and Globalisation) reforms during 1991, the Nationalisation of Banks in 1969 for the first time, the licencing of new private sector banks post 1991, setting up of Payment banks, Small Finance Bank (SFB) and consolidation of Public Sector Banks (PSBs) etc.

Sports News

AFI and HSBC India collaborate to support future female athletes

The Athletics Federation of India (AFI) announced its collaboration with HSBC India in order to support Indian women athletes, particularly the young ones. Under the terms of the cooperation, talented girls will be chosen from the Under-14 and Under-16 National Inter District Championships and trained to compete on a worldwide scale.  Athletics Federation of India (AFI) President Adille Sumariwalla promised that "special coaching camps would be set up for the selected athletes and all their needs would be taken care of."  Hitendra Dave, general manager and CEO of HSBC India, said: "We are eager to encourage our female athletes. By providing them with access to training and tools of a high international standard, we hope to support their efforts."

Obituaries News

Oscar-winning Pixar animator Ralph Eggleston passes away 

Oscar Award-winning animator, Ralph Eggleston passed away at the age of 56 years due to pancreatic cancer in California, United States of America (USA). He was born on 18 October 1965 in Lake Charles, Louisiana (United States).  He was an American animator, art director, storyboard artist, writer, film director, and production designer at Pixar Animation Studios.  Pixar’s animated short film “For the Birds”, written and directed by Ralph Eggleston won the award for Best Animated Short at the 74th Academy Awards (2002). He also won his first Annie Award for Best Art Direction for the movie ‘’Toy Story’’.

Eminent economist Abhijit Sen passes away

Renowned economist and former Planning Commission member, Abhijit Sen has passed away at 72.  He was a member of the Planning Commission from 2004 to 2014, during the tenure of PM Manmohan Singh. He was awarded the Padma Bhushan for public service in 2010.  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. Politicians, academics, his students, farmers’ leaders and activists remember him for his contributions in areas such as minimum support price, rural economy and rural employment.

PM Modi condoles demise of Sonia Gandhi's mother, says 'My thoughts are with the family'

PM Narendra Modi on Wednesday condoled the demise of Congress President Sonia Gandhi's mother Paola Maino. "Condolences to Sonia Gandhi Ji on the passing away of her mother, Mrs Paola Maino. May her soul rest in peace. In this hour of grief, my thoughts are with the entire family," he wrote. Paola passed away in Italy on Saturday.

 

 

Important Days

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

The International Day for People of African Descent is celebrated on 31 August globally. The day was first celebrated in 2021, halfway through the International Decade for People of African Descent (2015-2024), which calls for concrete actions on the part of states and other members of the international community to promote recognition, justice and development.  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 Whale Shark Day 2022: 30th August

International Whale Shark Day 2022: International Whale Shark Day is observed on August 30, and to commemorate this occasion in (International Whale Shark Day 2022), try to understand the purpose.  International Whale Shark Day 2022 is to raise awareness of the value of whale sharks and the need for their conservation. People can learn about the magnificent species on this day and take action to protect them on International Whale Shark Day 2022.

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