Latest Current Affairs For Thursday 11th August, 2022

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.

Pramod Kumar appointed as CFO of Power Grid Corporation

Board of Directors of the Powergrid Corporation of India Limited has approved the appointment of Pramod Kumar as the Chief Financial Officer (CFO).

Prior to this, he served as the Executive Director (Finance) of the company.

He has an experience of 35 years in the Power Sector including Finance and Accounting functions i.e. finalisation of Corporate Accounts, formulation of Capital Budget etc.

Power Grid HQ: Gurgaon; 

Chairman & MD: Kandikuppa Sreekant

Microsoft join ONDC to launch a shopping app in India

Microsoft becomes the first global Big Tech Company to join the Open Network for Digital Commerce (ONDC).

ONDC is an Indian government initiative for developing a first-of-its-kind open network for digital commerce.

Microsoft has intended to introduce social e-commerce via its app in the Indian market later this year.

Initially, the network began its pilot in De­lhi, Bengaluru, Coimbatore, Bho­pal and Shillong.

ONDC is sponsored by the DPITT.

World Biofuel Day 2022: August 10

World Biofuel Day is celebrated annually on August 10 to mark the importance of non-fossil fuels as a replacement for conventional fossil fuels.

On this date, Sir Rudolf Diesel (German) successfully ran his diesel engine on peanut oil. 

In India, the Ministry of Petroleum and Natural Gas and the Ministry of Environment, Forest and Climate Change started celebrating World Biofuel Day 2015 onwards.

Three types of biofuels used in India: Bioethanol, biodiesel, and biogas

Google launches 'India Ki Udaan' to mark 75 years of independence of India

Google has launched the 'India ki Udaan' project to celebrate the 75 years of Independence of India in the presence of Union Culture and Tourism Minister, G Kishan Reddy and other senior officials.

It was executed by Google Arts and Culture.

It is based on the theme ‘Unwavering and undying spirit of India over these past 75 years’.

The project will use rich archives and feature artistic illustrations to tell the story of India.

Google CEO: Sundar Pichai

12th edition of Defence Expo to be organised in Gandhinagar, Gujarat

The 12th edition of the Defence Expo, India's flagship exhibition on Land, Naval and Homeland Security systems will be organised in Gandhinagar, Gujarat.

The event will be held between October 18 and 22, 2022.

Theme: Path to Pride

Focus: Live demonstrations showcasing the equipment and skill set of the Armed Forces, DPSUs and Industry.

The exhibition is in line with the vision of PM Modi to achieve self-reliance in defence and achieve export of $5 billion by 2025.

Singapore declared Padang as 75th national monument of the country

Singapore has declared its 200-year-old iconic green open space Padang as its 75th national monument as the country celebrates its 57th National Day (9th August).

From this site, Netaji Subhas Chandra Bose had given his ‘Delhi Chalo’ slogan in 1943.

From now, the Padang has been preserved and accorded the highest level of protection in Singapore under the Preservation of Monuments Act.

The victory parade of Japanese surrender on September 12, 1945 was held on Padang.

Serena Williams announces her retirement from professional tennis

American legendary tennis player, Serena Williams has announced her retirement from professional tennis.

The US Open 2022 would be her farewell tournament.

She has been ranked singles world No.1 by the Women's Tennis Association for 319 weeks.

She has won 23 Grand Slam singles titles, the second most of all time by any player in the open history after an Australian player, Margaret Court (24).

She won her first Grand Slam, the U.S. Open in 1999.

44th Chess Olympiad concluded; India's men & women team win bronze medal

The 44th edition of the Chess Olympiad has been concluded in Chennai, Tamil Nadu.

India 'B' team (Men's) comprising D Gukesh, R Praggnanandhaa, Raunak Sadhwaniand and Adhiban won the bronze medal after defeating Germany.

India 'A'  team (Women's) comprising Vaishali and Koneru Humphy, Tania Sachdev and Bhakti Kulkari won the bronze medal.

The Uzbekistan team won gold medal in the men's section and Armenia clinched the silver medal.

Asian Championship medalist Kamaraj passes away

Former Athlete, P V Kamara has been passed away at 68 due to a massive heart attack in Chennai.

He was a part of the 4x400m Indian men's relay team that won bronze at the 1979 Asian Championships, Tokyo.

He was retired as a Chief Reservation Officer with the Indian Railways and had contributed immensely to athletics in Tiruchi (hometown of Kamaraj).

He was a NIS-trained coach and had trained the Tamil Nadu state team for several years.

AIADMK's MP, K Maya Thevar passes away

Former MP of AIADMK, K Maya Thevar has been passed away at 88 due to age-related ailments.

He started his career as lawyer, and practised as an advocate at the Madras HC.

Later he moved to politics and joined AIADMK, and becomes the candidate for the first-ever Lok Sabha election faced by the AIADMK after the formation of the party in 1972 by former CM MG Ramachandran.

He had also selected the two-leaves symbol for seeking a mandate from Dindigul constituency, TN.

PM Modi dedicate second generation (2G) Ethanol Plant in Panipat, Haryana

PM Narendra Modi has dedicated to the nation the 2nd Generation (2G) Ethanol Plant at Panipat in Haryana through video conferencing.

The 2G Ethanol Plant has been built by the Indian Oil Corporation Limited, at an estimated cost of over 900 crore rupees.

The project will utilise about two lakh tonnes of rice straw (parali) annually to generate around three crore litres of Ethanol per annum.

It will also contribute to a reduction of Greenhouse Gases.

James Marape sworn in as prime minister of Papua New Guinea for second term

James Marape, who become the prime minister of Papua New Guinea in 2019, has been re-elected as PM of the country for second term.

Papua New Guinea has been governed by multi-party coalitions.

He joined the PANGU Pati in May 2019 and announced to lead the PANGU Pati.

About Papua New Guinea:

Capital: Port Moresby; 

Currency: Kina

It is a South Pacific nation.

It got independence from Australia on 16 September 1975.

It is rich reserves of copper, gold, and oil. 

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.