Daily GK Update: 18th August 2022

By Neha Bisarya|Updated : August 18th, 2022

 Defense

1. Defence Minister handed over F-INSAS, Nipun mines, and LCA to the Army

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  • The Defence Minister, Rajnath Singh has handed over new weapons systems - F-INSAS, Nipun mines, LCA to the Indian army.
  • Future Infantry Soldier As A System (F-INSAS): It is designed to transform the infantry soldier into a self-contained fighting machine.
  • Nipun mines: It will act as the first line of defence against enemy infantry or tanks or infiltration attempts by terrorists.
  • Landing Craft Assault (LCA): It helps the Army more efficiently mobilise its forces.
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 National & International Appointments

2. FSIB recommends Mohammad Mustafa as a Chairman of NABARD

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  • The Financial Services Institutions Bureau (FSIB) has recommended Mohammad Mustafa for the post of NABARD Chairman.
  • He is an IAS officer 1995 batch, UP cadre and served as the Chairman and Managing Director of Small Industries Development Bank of India (SIDBI).
  • He had also served as a Joint Secretary in the Department of Financial Services; as CMD of NHB and as MD of CERSAI.
  • The Appointments committee of the cabinet headed by PM Modi will take the final decision.
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 Summits & Conferences

3. Amit Shah inaugurates National Security Strategies Conference

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  • Home Minister, Amit Shah has inaugurated a two-day National Security Strategies (NSS) Conference in New Delhi.
  • Aim: To ensure a safe and secure nation by strengthening all aspects of national security mechanism.
  • During the conference, he has also inaugurated the National Automated Fingerprint Identification System (NAFIS) that was developed by NCRB.
  • NAFIS will help in quick and easy disposal of cases with the help of centralized finger print database.
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 Banking & Finance

4. Indel Money launches digital personal loan on mobile app

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  • Indel Money Ltd (gold loan NBFC) has launched its mobile app and e-portal to provide digital personal loan.
  • Initially this service will be offered to its existing customers, to provide complete digitalised experience with faster disbursement of loan.
  • The loan will be sanctioned on the basis of average transaction value in the previous year.
  • The rate of interest will be 10-20% based on the individual credit score.
  • The repayment tenure is in the bracket of 3-6 months.
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 National Affairs

5. Cabinet approves interest subvention of 1.5%p.a. on agriculture loan

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  • Cabinet has approved interest subvention of 1.5% on short term agriculture loan upto 3 lakh rupees.
  • This increase in Interest Subvention support requires additional budgetary provisions of 34,856 crore rupees for the period of 2022-23 to 2024-25 under the scheme.
  • Aim: To ensure the sustainability of credit flow in the agriculture sector as well as ensure financial health.
  • Minister of Agriculture & Farmers' Welfare: Narendra Singh Tomar
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 National & International Appointments

6. Mastercard signs badminton players to promote digital payments in India

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  • Lakshya Sen, Kidambi Srikanth, Satwiksairaj Rankireddy and Chirag Shetty have been signed as the brand ambassadors of mastercard to promote digital payment in India.
  • Focus: To spread awareness about safety, security, and convenience of digital payments in India.
  • This partnership will buildup the efforts of the Reserve Bank of India (RBI) and PM Modi’s vision of Digital India.
  • The company had also signed Shiv Kapur and Anirban Lahiri as brand ambassador in 2021.
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 State Affairs

7. Uttar Pradesh cabinet approves night safari park in Kukrail forest area

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  • The Uttar Pradesh Cabinet has approved the proposal for India’s first night safari in Kukrail forest area of Lucknow district.
  • It would be developed on the tunes of Singapore.
  • As part of the project, the government will establish a zoological park on around 150 acres and night safari on 350 acres without disturbing the dense 2,027-hectare forest.
  • The 75 acres of Kukrail would be dedicated for leopard and tiger each while 60 acres for wild beer. 
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 State Affairs

8. Delhi CM Arvind Kejriwal launches ‘Make India No. 1’ mission

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  • Delhi CM, Arvind Kejriwal has launched the 'Make India No. 1' mission to make India the number one country in the world.
  • Five-point vision of this initiative: Free education; Free treatment; Employment for youth; Equal rights, dignity and security for women; and Fair price to farmers for their produce.
  • This mission was launched at the Talkatora Stadium of Delhi.
  • During the launch, he urged every citizen to join thin mission and make India No. 1 in the world.
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 Sports

9. Delhi High Court appoints 3-member committee to manage IOA affairs

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  • The Delhi High Court has passed an order to constitute a 3-member Committee of Administrators (CoA) to run daily affairs of the Indian Olympic Association (IOA).
  • Agenda: To prepare the new constitution of IOA as per the Sports Code and the court rulings, and prepare the electoral roll in order to hold fresh elections.
  • The CoA will be assisted by three sportspersonsAbhinav Bindra (Shooter), Anju Bobby George (former long jumper) and L Bombayla Devi (archer).
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 Banking & Finance

10. SBI launches its first dedicated branch for start-ups in Bengaluru

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  • The State Bank of India (SBI) has announced the launch of its first "state-of-the-art" dedicated branch for start-ups in India to facilitate and support them.
  • The branch has been launched by SBI chairman Dinesh Khara, is located in Koramangala, Bangalore (Silicon Valley of India).
  • After Bengaluru, the second and third branch will be launched in Gurgaon and Hyderabad respectively.
  • The branch has also entered into MOUs with the government of Karnataka initiatives.
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 Banking & Finance

11. Axis Bank signs MoU with Food Corporation Of India

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  • Axis Bank has signed an MoU with Food Corporation of India (FCI) to provide “Ultima Salary Package” with exclusive benefits & features to all its employees.
  • Features of Ultima salary Package:
    • Personal Accidental cover: up to Rs.20 lakhs
    • Additional Education Grant: upto Rs. 8 lakhs
    • Total Permanent Disability Cover benefit: up to Rs. 20 lakhs
    • Permanent Partial disability: up to Rs.20 lakhs
    • Air Accident cover of Rs. 1 Crore
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 State Affairs

12. Kerala launches lucky bill app to curb GST evasion

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  • The Kerala government has launched an app named ‘Lucky Bill App’ to curb Goods and Service Tax (GST) evasion.
  • The app was launched by chief minister Pinarayi Vijayan.
  • Aim: To encourage the citizen to ask for a bill every-time they make a purchase.
  • The users need to upload original bills of their purchases to win prizes, including a cash prize of ₹25 lakh.
  • The app will also offer rewards such as gift packs from Kudumbashree and Vanashree as well as KTDC tour packages.
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 Banking & Finance

13. Axis bank CEO is the highest paid bank CEO in India

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  • As per the annual report of bank for FY 22, Axis Bank chief executive officer, Amitabh Chaudhry was the highest-paid private bank chief in India in the previous financial year, has drawn a total of Rs 7.62 crore in annual salary.
  • Followed by IndusInd Bank chief, Sumant Kathpalia, who made over Rs 7.31 crore in annual salary in FY22.
  • Sandeep Bakhshi, MD of ICICI Bank, has earned Rs 7.05 crore in annual salary last fiscal.
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Daily GK Update: 18th August 2022

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