Latest Current Affairs For Monday 1st August, 2022

Zimbabwe launches gold coins to control inflation

Zimbabwe has launched gold coins named “Mosi-oa-Tunya' to control an inflation spike that has eroded the country’s unstable currency.

The move was announced by the Reserve Bank of Zimbabwe (central bank), which has disbursed 2,000 coins to commercial banks.

Coins have been given the status of liquid asset, which can be easily converted into cash.

Coins can be used by Individuals or companies.

They can purchase coins from banks and other authorised outlets.

RIL partners IOA for first-ever India House at Paris Olympics 2024

Reliance Industries Ltd (RIL) has come into partnership with Indian Olympic Association (IOA), which would involve the setting up of first-ever India House at Paris Olympics 2024.

Aim: To elevate the performances of Indian athletes, support the national sports federations and build the credentials of India.

This partnership will support Indian athletes in major events including the CWG, Asian Games, and the Olympics Games.

IOA President: Anil Khanna (Acting)

Canadian scholar receives ICCR’s ‘Distinguished Indologist for 2021’ award

A Canadian scholar, Jeffrey Armstrong has been awarded with the Indian Council for Cultural Relations (ICCR) 2021 Distinguished Indologist for his outstanding contribution in study, teaching and research in any of the fields of Indian Studies.

He is the founder of the Vedic Academy of Science & Arts and author of The Bhagavad Gita comes Alive.

The ICCR Distinguished Indologist award was instituted in 2015 during the First World Indology Conference.

IIT Madras launches ‘Nilekani Centre at AI4Bharat’

The Indian Institute of Technology, Madras (IIT Madras) has launched the ‘Nilekani Centre at AI4Bharat” with an aim to advance the state of Indian language technology.

AI4Bharat, is an initiative to build open-source language (Artificial Intelligence) AI for Indian languages.

The centre has made several cutting-edge resources open-source for mass public use and can be downloaded from their webpage.

Tamil Nadu govt launched ‘Chief Minister’s Breakfast Scheme’

Chief Minister of The Tamil Nadu, M K Stalin has announced to roll out a breakfast scheme for state-run school children of Classes 1 to 5.

The project incurs the cost of Rs 33.56 crores.

The breakfast meal included sambar and vegetables, will be provided to children in all working schools.

Every student is to be provided a 150-500 gram breakfast with sambar with vegetables.

Tamil Nadu Capital: Chennai; 

Governor: RN Ravi

Kerala govt to launch online cab service 'Kerala Savari'

The Kerala government is set to launch its own e-taxi service named 'Kerala Savari' from August.

This online taxi hiring service is being rolled out by the state Labour Department which is linking the existing auto-taxi networks in the state.

Aim: To ensure safe and dispute-free travel for the public at affordable rates prevailing in the state.

The new service would be launched in a function to be held at Kanakakkunnu Palace.

Kerala Governor: Arif Mohammad Khan

Savitri Jindal becomes the richest woman in Asia

According to the Bloomberg Billionaires Index, Savitri Jindal (72, Indian) has become the richest women in Asia with $11.3 billion fortune.

She replaced China's Yang Huiya, with the net worth of $11.0bn.

Huiyan, who controls largest real estate developer Country Garden Holdings of China has lost half of his wealth drop from nearly $24 billion last year to $11 billion.

Savitri Jindal became the chairperson of the Jindal Group, after the death of her husband OP Jindal.

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023

The Tilak Smarak Mandir Trust (Hind Swaraj Sangh) would confer the prestigious Lokmanya Tilak National Award 2023 to Prime Minister Narendra Modi in Pune on August 1, 2023.

Reason: This award recognizes PM Modi's supreme leadership under which India has climbed the ladder of progress

It is presented annually on the occasion of Lokmanya Tilak's death anniversary.

Other awardees: Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh. 

J&K Bank wins award for Best Performance in CASA

Jammu & Kashmir Bank has been felicitated for the Best Performance in CASA-India (1st Runner up in Small Bank Category) at ICC Emerging Asia Banking Conclave & Awards 2022.

The event was participated by banks from India, Nepal, Bhutan, Bangladesh, Sri Lanka & Myanmar.

The function was organized by the Indian Chamber of Commerce in Goa.

Indian Chamber of Commerce (ICC) is a non-governmental trade association and advocacy group headquartered in Calcutta.

India poised to become world’s 2nd-largest economy by 2075: Goldman Sachs

According to the Investment Bank Goldman Sachs, India is poised to become the world’s second-largest economy by 2075.

As per the report, India would cross Japan, Germany, and the US With a population of 1.4 billion people.

India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection.

The labour force participation set to make India the second-largest economy in the world by 2075.

L&T and Spain's Navantia sign agreement for submarine project

L&T has signed a teaming agreement with Spanish-based Navantia for the submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

P75 (India) Submarine Project is expected to be valued at €4.8 billion.

Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines.

The first S80 class submarine was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy. 

India overtakes China as most attractive emerging market for investing

According to a study by Invesco Global Sovereign Asset Management, India has overtaken China to become the most attractive emerging market for investing in sovereign wealth funds this year.

Reason: This is due to its solid demographics, political stability, and proactive regulation. 

Positives for the nation also include the rapidly expanding demography, strong regulatory actions, and a welcoming climate for sovereign investors.

World Population Day 2023: 11 July

World Population Day is observed every year on July 11 in order to raise awareness about global population issues, including population control.

2023 theme: Unleashing the power of gender equality: Uplifting the voices of women and girls to unlock our world’s infinite possibilities. 

It was established by the United Nations Development Programme (UNDP) in 1989, after the day the world approximately reached a population of five billion, which was observed on 11 July 1987.

MoHUA conducts SBM-U 2.0 Planning & Implementation Review-cum-Workshop

The Housing Ministry organized a review-cum-workshop to evaluate and accelerate the planning and implementation of the SBM-Urban 2.0.

PM Modi launched the 2.0 versions of SBM-U and AMRUT on October 1, 2021.

SBM-U 2.0: Achieving 100% waste segregation in all households and premises and 100% door-to-door collection of segregated waste from each. 

AMRUT 2.0: To provide complete coverage of water supply to all households and sewerage and septage in 500 AMRUT cities. 

Gujarat CM launches pilot project of ‘Antyodaya Shramik Suraksha Yojana’

Gujarat CM Bhupendra Patel launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Kheda

All those registered under the e-Shram portal from Nadiad will benefit from the scheme.

It is being implemented through the Indian Postal Department, the IPPB, and the Ministry of Labour and Employment.

Under this scheme, insurance with a premium of Rs. 289 and Rs. 499 per year will be a big support to workers in the event of death or partial disability.

OCA elects Sheikh Talal as the new President

Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of the Olympic Council of Asia (OCA).

He replaced his older brother Sheikh Ahmad Al-Fahad Al-Sabah, who led the OCA for 30 years until 2021.

The OCA was founded in 1982 by his father Fahad Al-Ahmed Al-Jaber Al-Sabah, who led it until 1990.

The Olympic Council of Asia (OCA) is a governing body of sports in Asia, currently with 45 member National Olympic Committees.

Bajaj Allianz Life Insurance wins Insurer Innovation Award 2023

Bajaj Allianz Life Insurance has won the Insurer Innovation Award 2023 for the APAC region at the 8th World Digital Insurance Awards, hosted by TDI - The Digital Insurer.

Recognition: Bajaj Allianz Life's ground-breaking WhatsApp Conversational Platform - empowering customers to digitally services their policies seamlessly. 

The award entries were shortlisted by industry experts and the winner was selected by the community through pre-voting and live event voting.