Daily GK Update: 12th August 2022

 Science & Technology

1. ISRO successfully tests Gaganyaan Low Altitude Escape Motor from Sriharikot

• Indian Space Research Organisation has successfully completed the test-firing of the Low Altitude Escape Motor (LEM) of Crew Escape System from Sriharikota, Andhra Pradesh.
• Objective: Evaluation of motor ballistic parameters; Validation of motor subsystem performance.
• LEM:
  • It is a distinctive special purpose solid rocket motor.
  • It has four reverse flow nozzles.
  • It generates a maximum sea level thrust of 842 kN (nominal) with a burn time of 5.98 seconds (nominal).

 Agreement

2. NHIDCL, NSDC sign MoU for skill development initiatives

• National Highways Infrastructure Development Corporation Limited (NHIDCL) has signed an MoU with National Skill Development Corporation (NSDC).
• Purpose: To take up multiple initiatives contributing towards making India the Skill Capital.
• Signed by: MD of NHIDCL, Chanchal Kumar and COO & Officiating CEO of NSDC, Ved Mani Tiwari
• NHIDCL is a fully owned company of the Ministry of Road Transport & Highways.
• NSDC is PPP model under Ministry of Skill Development

 Summits & Conferences

3. HM Amit Shah to inaugurate National Conference of Rural Cooperative Banks

• Union Home Minister, Amit Shah will inaugurate the National Conference of Rural Cooperative Banks.
• It was organized by the Ministry of Cooperation and the National Federation of State Cooperative Banks.
• He will also confer Performance Awards to select State Cooperative Banks, District Central Cooperative Banks, or PACS.
• The short-term cooperative credit structure in India comprises 34 State Cooperative Banks, 351 District Central Cooperative Banks, and 96,575 PACS. 

 International Affairs

4. Latvia and Estonia withdraw from cooperation group

• Latvia and Estonia have withdrawn from a cooperation group amid the Western criticism of China over escalating military pressure on Taiwan.
• Reason: Both countries will continue to work towards constructive and pragmatic relations with China.
• Bulgaria, Croatia, the Czech Republic, Greece, Hungary, Poland, Romania, Slovakia, and Slovenia are among countries that remain in the cooperation format.
• Latvia Capital: Riga; Currency: Euro
• Estonia Capital: Tallinn

 Summits & Conferences

5. Election Commission of India hosts virtual Asian Regional Forum meet

• The Election Commission of India (ECI) hosted a virtual meet of the ‘Asian Regional Forum’ at Nirvachan Sadan on August 11, 2022.
• Theme: “Making our Elections Inclusive, Accessible and Participative
• This Regional Forum meet was a precursor to the “Summit for Electoral Democracy'' that to be hosted by the National Electoral Institute of Mexico in the coming month.
• Chief Election Commissioner of India: Rajiv Kumar

 Important Dates

6. International Youth Day: 12th August

• International Youth Day observed annually on 12th August annually to create awareness about the issues faced by youth.
• Theme 2022: Intergenerational solidarity: creating a world for all ages
• In 1999, the General Assembly has passed a resolution 54/120, and declared 12 August as International Youth Day.
• This decision was made after the recommendation made by the World Conference of Ministers Responsible for Youth (Lisbon, 8-12 August 1998).

 Schemes

7. Government revised the Atal Pension Yojana rules

• The government of India has made revised the rules of Atal Pension Yojana (APY), will be effective from from October 1, 2022.
• No citizen who is or has been an income taxpayer will not be eligible to join the APY.
• If an income tax-payer joins the APY scheme on or after October 1, 2022, the APY account will be liable to be closed.
• Currently, all citizens of India between the age of 18-40 years are eligible to join the scheme, irrespective of their tax-paying status.

 Science & Technology

8. ISRO launched new virtual space museum named SPARK

• ISRO Chairman, S Somanath has launched the India's first virtual space museum 'SPARK' for public use to showcase the digital content related to different ISRO missions in an interactive manner.
• SPARK can be accessed through the official website of ISRO or at: https://spacepark.isro.gov.in.
• Presently, the space organisation has also launched an application, the beta version of SPARK on their website.
• ISRO HQ: Bengaluru; Founded: 15 August 1969; Founder: Vikram Sarabhai

 International Affairs

9. 7.3% of Indians owned digital currency in 2021: UN

• According to the UN, India's population has owned 7.3% digital currency and ranked seventh in the list of top 20 global economies for digital currency ownership as share of population.
• Ukraine topped the list with 12.7%, followed by Russia (11.9%), Venezuela (10.3%), Singapore (9.4%), Kenya (8.5%) and the US (8.3%).
• It also been observed that the global use of cryptocurrencies has increased exponentially during the COVID-19 pandemic (including developing countries).

 Sports

10. Bhavani Devi wins gold medal at Commonwealth Fencing Championships 2022

• Indian fencer, Bhavani Devi has secured gold medal in the women’s senior individual sabre category at the Commonwealth Fencing Championships 2022 in London.
• She defeated Veronika (Australia), who has settled for silver in the event.
• Bhavani Devi hails from Tamil Nadu and was the first Indian fencer to qualify for the Olympics (Tokyo 2020)
• Fencing was recognised by the Commonwealth Games Federation as a sport.

 Obituaries

11. Indian American journalist, Uma Pemmaraju passes away

• Uma Pemmaraju, an Indian American journalist has passed away at the age of 64.
• She was a part of various shows such as The Fox Report, Fox News Live, Fox News Now, and Fox On Trends.
• She has been awarded many Emmy Awards in her career for investigative reporting and journalism.
• She was also awarded The Woman of Achievement Award by the Big Sisters Organization of America, the Texas AP Award, and the Matrix Award from the Women in Communications for reporting.

 State Affairs

12. LG Manoj Sinha inaugurates "UMEED Market Place" under AVSAR Scheme of AAI

• Lieutenant Governor of Jammu and Kashmir, Manoj Sinha has inaugurated "UMEED Market Place" under AVSAR Scheme of Airport Authority of India at Srinagar International airport.
• A similar Marketplace was also opened at Jammu Airport and both the outlets will exhibit products of all 20 districts.
• Aim: To support local art and artisans of Self Help Groups of J&K Rural Livelihood Mission.
• The products of Self Help Groups will get exposed to the national market.

 Banking & Finance

13. Kotak Mahindra Bank launches lifestyle-focused corporate salary account

• Kotak Mahindra Bank has launched a lifestyle focused salary account named Kotak Creme.
• This account will offer an upgraded experience to its customers working in MNCs, retails, law firms, unicorns etc.
• The account will be available to all corporates in India and will also come with a host of privileges and rewards across lifestyle, travel, healthcare, dining, skilling and learning experiences.
• Kotak Mahindra Bank HQ: Mumbai; CEO Uday Kotak