Current Affairs in English – August 26 2022

August 26 , 2022

National Events:

Krishnamurthy Subramanian:

• Former Chief Economic Advisor ( CEA ) Krishnamurthy Subramanian has been appointed as India’s Executive Director at the International Monetary Fund ( IMF ). His term will begin from November 2022 & will continue for a period of 3 years.
• He will succeed Surjit Bhalla , the current Executive Director for India at IMF . Subramanian was the youngest CEA in the finance ministry between 2018 and 2021.

TVS Motor:

• TVS Motor invested Rs 85.41 crore to acquire 48.27 % stake in the firm Nkars Mobility Millennial Solutions Private Limited ( NMMSPL ).
• The firm operates Formula 1 Driver Narain Karthikeyan’s start – up ‘ DriveX’. DriveX provides two – wheelers to customers on a subscription model for a flexible tenure and on a purchase model , along with certain ancillary services. TVS Motor CEO : K. N. Radhakrishnan.

RAN:

• RailTel , a Mini Ratna CPSU of Ministry of Railways and CloudExtel have partnered together .They have launched India’s first shared Radio Access Network ( RAN ) solution for congested locations with the objective of enhancing telecom users ‘ experience.
• They carried out the successful pilot of this project with Bharti Airtel , Vodafone Idea , and Nokia.

Tripartite agreement:

• A tripartite agreement has been signed between the National Mission for Clean Ganga ( NMCG ) , Uttar desh Jal Nigam , and Vishvaraj Environment.
• It has been signed for the development of sewage treatment plants for Agra under hybrid annuity mode or ( HAM ). The agreement will take care of the existing sewage problems which cause pollution in the Yamuna.

‘Interim Water Sharing of Kushiyara river’:

• The 38th Meeting of Ministerial level Joint Rivers Commission , JRC , of India and Bangladesh was he New delhi on 25 August 2022 . The two sides finalized the text of MoU on ‘ Interim Water Sharing of Kushiyara river’.
• Both sides also welcomed finalization of the design and location of the water intake point on the Feni River to meet the drinking water needs of Sabroom town in Tripura.

Supreme Court:

• For the first time since its inception , the Supreme Court on 26 August 2022 live streamed proceedings. The proceeding of the bench headed by CJI N V Ramana will be live streamed through a webcast portal.
• Supreme Court in 2018 had allowed live streaming of court proceedings of cases of constitutional and national importance.

SME Mauritius Ltd and EDII Ahmedabad:

• The 3rd Joint Committee Meeting ( JCM ) between Ministry of MSME and Ministry of Business , Enterprises and Cooperatives of Republic of Mauritius for cooperation in the field of MSMEs was held in New Delhi , in August 2022.
• During the Mauritius delegation’s visit two MoUs on cooperation have also been signed . One of them was signed between SME Mauritius Ltd. and EDII Ahmedabad.

Battery Waste Management Rules:

• Government has notified Battery Waste Management Rules , 2022 to ensure environmentally und management of waste batteries .The new rules will replace Batteries ( Management and Handling ) Rules , 2001.
• The rules cover all types of batteries – Electric Vehicle batteries , portable batteries , automotive batteries and industrial batteries.

Wheat flour:

• The Cabinet Committee on Economic Affairs has given its approval to amend the policy which exempts wheat flour from export ban. This has been done to curb the rising prices of wheat flour and ensure food security for the most vulnerable sections of society.
• Wheat flour exports from India registered a growth of 200 % during April to July 2022 compared to the corresponding period in 2021.

HDFC Bank:

• HDFC Bank said it has entered into an indicative and non – binding term sheet with Go Digit Life Insurance.
• Recently HDFC bank was awarded as ” Best Bank In India ” at Euromoney Awards for Excellence 2022.

Dr Samir V Kamat:

• Distinguished Scientist Dr Samir V Kamat has been appointed as the new chairman of the Defence Research and Development Organisation ( DRDO ).
• Kamat will succeed Dr G. Satheesh Reddy who has been appointed as Scientific Adviser to Defence Minister.
• Earlier , Dr Kamat was Director General of Naval Systems & Materials at DRDO since July 2017 . DRDO Founded : 1958 .Headquarters : New Delhi.

Vyas Samman:

• Dr Asghar Wajahat , a well – known Hindi writer , was conferred with the 31st Vyas Samman on 25 August 2022.
• He has been chosen for the prestigious award for his play ‘ Mahabali ‘ , which focuses on Mughal emperor Akbar & poet Tulsidas. The Vyas Samman is a Hindi literary award in India , first awarded in 1991.

Perfume tourism destination:

• The Uttar Pradesh government has decided to develop Kannauj as a perfume tourism destination.
• As part of this initiative , the government will organize an international perfume fair in Kannauj in December 2022. The first phase of the perfume park being set up in the district will also be completed by 15 November 2022.
• The perfume of Kannauj comes under the government’s ‘ One District , One Product ‘ initiative’.

Bandhan Bank:

• Bandhan Bank will open 551 more branches in the 2022-23 fiscal , as part of the lender’s focus to make its distribution stronger in other parts of India outside the eastern region.
• With the latest addition , bank’s branch count will exceed 6,000. Recently bank’s push for digital & tech transformation has been a great success, with 92 % transactions taking place through digital route.

International Events:

Airports Authority of India and Sweden’s LFV Air Navigation Services:

• Airports Authority of India and Sweden’s LFV Air Navigation Services have signed an MoU. They will develop and operationalize the next generation sustainable aviation technology to explore smart aviation solutions.
• It aims to expand technical cooperation in airports and support the development of a safe , secure , sustainable and efficient aviation sector.

UNESCO Peace Prize:

• Former German chancellor Angela Merkel has been awarded the 2022 UNESCO Peace Prize for ” her efforts to welcome refugees ” .In 2015 , Merkel welcomed more than 1.2 million refugees into Germany.
• This prize , also known as the Félix Houphout – Boigny – UNESCO Peace Prize , has been awarded each year since 1989 to individuals , and organisations that have made a special effort to promote peace.

Bangladesh & India:

• Bangladesh & India on 24 August 2022 signed contracts for two railway projects. The first project includes the construction of a new broad – gauge line between Khulna – Darsana & the other includes the conversion of a metre – gauge line into a dual – gauge line between Parbatipur and Kaunia.
• These projects are being implemented with financing under the Indian line of credit ( LoC ) of $ 2 billion.

ASE:

• South Korea has signed a $ 2.25 billion deal with a Russian state – run nuclear energy company ‘ ASE ‘. ASE is a subsidiary of Rosatom , a state – owned Russian nuclear conglomerate.
• It has been signed to provide components for Egypt’s first nuclear power plant. South Korea has also signed a $ 20 billion contract to build nuclear power reactors in the UAE . South Korea President : Yoon Suk – yeo.

Sports Events:

First Khelo India Women’s Judo Tournament:

• The first Khelo India Women’s Judo Tournament will start from 27 August 2022. The tournament will be held across four zones in the country.
• The national round will be held from 20th to 23rd October 2022 at the KD Jadhav Indoor Stadium in New Delhi.
• The competitors from four age groups will compete during the tournament . The tournament includes prize money of 48 lakh rupees.