Current Affairs August 2022

GoI named former CEA K Subramanian as Executive Director for India at IMF

Former Chief Economic Adviser KV Subramanian was on Thursday appointed as the Executive Director for India at the International Monetary Fund (IMF), an official order said. Subramanian’s term will begin from November and will continue for a period of three years or until further orders, whichever is earlier, by curtailing the tenure of eminent economist Surjit […]

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Indian scientist Samir V Kamat appointed as DRDO Chairman

The Defence Research and Development Organisation (DRDO) on Thursday appointed distinguished scientist, Dr Samir V Kamat, as chairman. Kamat, who is Director General, Naval Systems & Materials (NS&M), will succeed G Satheesh Reddy, who has been named as scientific adviser to Defence Minister Rajnath Singh, according to a Personnel Ministry order. Reddy was appointed as

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VVS Laxman appointed as the interim head coach of India for Asia Cup 2022

The chief of the National Cricket Academy (NCA), VVS Laxman has been named interim head coach of Team India in Dubai for the 2022 Asia Cup. This decision was confirmed by BCCI, as Rahul Dravid, India’s head coach, did not travel with the team after testing positive for COVID-19. Rohit Sharma and KL Rahul will lead the team as captain and vice-captain respectively for

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Former VP, M Venkaiah Naidu launches a book titled, ‘New India’

Former Vice President, M Venkaiah Naidu has released a book titled, ‘New India – a compilation of selected articles 2014-19’ of former Union Minister Arun Jaitley on his death anniversary (24 August) in New Delhi. Arun Jaitley has served as the Minister of Finance and Corporate Affairs of the Government of India from 2014 to 2019. He was awarded the Padma Vibhushan (second highest civilian

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RBI lifted restrictions on American Express Banking Corp

The Reserve Bank of India has lifted the business restrictions on American Express Banking Corp and allows to restart onboarding of new domestic customers on its card network. Background: RBI had put the curbs on American Express in May 2021. Reason: For not complying with a circular issued on storage of payments data in 2018. American Express

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RBI becomes Net Seller in June 2022 by selling 3.719 billion USD

Reserve Bank of India has become the net seller of the US currency in June 2022 after selling USD 3.719 billion on a net basis. The central bank has purchased USD 18.96 billion from the spot market and sold USD 22.679 billion. In June 2021, RBI was net buyer of the greenback after it purchased USD 18.633 billion on a net basis from the spot

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BASIX, Mastercard partner to digitize the rural ecosystem in Maharashtra

BASIX Social Enterprise has launched BASIX Farmers’ Market (BFM) (AgriTech platform) in partnership with Mastercard. Objective: To integrate farmers into the digital economy. BFM will leverage technology capabilities of Mastercard and deep industry expertise of BASIX in agriculture to improve the lives of small and marginal farmers. This platform will digitizes data and workflows for FPOs with strong controls on data privacy and security. CEO BASIX:

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PNB launches Pre-Qualified Credit Card facility

PNB has launched pre-qualified credit card which also including insurance coverage. It has also introduced a facility of overdraft against fixed deposit on PNB One in a few clicks and a single OTP. This card facility will be available for salary account customers and they will be able to apply through PNB One, or website. There is a concession of 0.25% on the interest rate

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Vikram Doraiswami appointed as High Commissioner of India to UK

Vikram Doraiswami, who is presently serving as the Indian High Commissioner to Bangladesh, has been appointed as the next High Commissioner of India to the UK. He started his career as the journalist and joined the Indian Foreign Service (IFS) in 1992.He had also served as the Third Secretary in the Indian Embassy in Hong Kong in May

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India’s first observatory to monitor space activity in Uttarakhand

The first commercial space situational awareness observatory of India will be set up in the Garhwal region of Uttarakhand by Digantara, a space sector start-up. Aim: To track objects as small as 10 cm in size orbiting the earth. The space situational awareness (SSA) observatory will help in tracking any activity in space. This observatory will strengthen indigenous capabilities of

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