Daily GK Update: 26th August 2022

 National & International Appointments

1. Distinguished scientist, Samir V Kamat appointed as Chairman of DRDO

• The Defence Research and Development Organisation (DRDO) has appointed distinguished scientist, Dr Samir V Kamat as chairman, from the data of his assumption of charge till 60 years or until further orders, whichever is earlier.
• He will replace G Satheesh Reddy, who has been named as scientific adviser to Defence Minister, Rajnath Singh.
• Presently, He is serving as the Director General, Naval Systems & Materials (NS&M).
• DRDO HQ: New Delhi; Founded: 1958

 Honours & Awards

2. Former German chancellor, Angela Merkel awarded 2022 Unesco Peace Prize

• Former German chancellor, Angela Merkel has been awarded the 2022 Unesco Peace Prize for her efforts to welcome refugees.
• In 2015, Merkel has opened German borders for refugees (Syria, Iraq, Afghanistan and Eritrea) who were streaming into Europe.
• About Unesco Peace Prize:
  • This honour is officially known as Felix Houphouet-Boigny- Unesco Peace Prize.
  • It was named after the former president of Ivory Coast.
  • It has been awarded each year since 1989.
  • Prize: USD 150,000

 International Affairs

3. Mack Rutherford becomes youngest pilot to fly solo around the world

• Mack Rutherford (17), Belgian-British dual national has become the the youngest person to fly solo around the world in a small aircraft.
• He landed on an airstrip of Sofia (Capital of Bulgaria) to complete his task and claimed two Guinness World Records.
• Rutherford is also the youngest person to circumnavigate the globe in a microlight plane.
• His solo trip flying around the world was sponsored by the web hosting company ICDSoft, is headquartered in Sofia.

 National & International Appointments

4. Govt appoints former CEA, K Subramanian as Executive Director (India), IMF

• Former Chief Economic Adviser, KV Subramanian has been appointed as the Executive Director for India at the International Monetary Fund (IMF).
• His term will begin from November 2022 and will continue for a period of three years or until further orders, whichever is earlier.
• He will replace the eminent economist, Surjit S Bhalla as ED (India), IMF whose tenure will end on 31 October, 2022.
• Bhalla was appointed as the Executive Director (India), IMF in 2019. 

 Banking & Finance

5. SIDBI and TPRMG join hands to set up 1000 green energy enterprises

• Small Industries Development Bank of India (SIDBI) has partnered with the TP Renewable Microgrid Ltd (TPRMG), a wholly-owned subsidiary of Tata Power.
• Aim: To set up 1,000 green energy enterprises throughout the country
• As per the agreement, SIDBI will provide them a “Go REsponsive, ENterprise incentive (GREENi)”,after the entrepreneurs finish a capacity-building programme organised by TPRMG.
• Tata Power CEO: Praveer Sinha
• SIDBI CMD : Sivasubramanian Ramanan

 National & International Appointments

6. Sourav Ganguly appointed as first brand ambassador of DreamSetGo

• India’s first premium sports experiences and travel platform, DreamSetGo has appointed Sourav Ganguly as its first brand ambassador.
• He will play a key role in promoting DSG’s curated experiences through its key partnerships with Manchester City, Chelsea FC, ICC Travel and more.
• DreamSetGo became the ‘Official Travel Agent’ of the ICC Men’s T20 World Cup Australia 2022 and the ‘Official Tour Operator’ of the Australian Open 2023.
  DreamSetGo was founded by Monish Shah in 2019.

 Banking & Finance

7. RBI imposes restrictions on Thodupuzha Urban Co-operative Bank

• The RBI has imposed certain restrictions on Kerala-based, Thodupuzha Urban Co-operative Bank for a period of six months (August 23, 2022).
• Reason: Due to its deteriorating financial condition
• Impact:
  • Restriction on granting or renewing loans and advances and making any investments.
  • Suspended withdrawal in the bank's savings and current accounts for depositors.
• The bank will continue its banking business with restrictions till its financial position improves.

 Banking & Finance

8. Irdai eases limits for insurance commissions

• The Insurance Regulatory and Development Authority of India (IRDAI) has given insurers more flexibility in paying commission by linking limits to the overall portfolio and company management expenses.
• IRDAI has proposed to cap commissions paid by the health and general insurers at 20 per cent of gross written premium (GWP).
• For life companies, IRDDAI has proposed to link commissions with expenses of management (EoM).
• IRDAI Chairman: Debasish Panda

 Banking & Finance

9. HDFC Bank to acquire 9.94% stake in Go Digit Life Insurance

• HDFC Bank would invest in Go Digit Life Insurance Ltd, the general insurer backed by Canada-based Fairfax Group.
• HDFC Bank has proposed an investment of between Rs 49.9-69.9 crore (two tranches) by subscribing to equity shares of the company for an equity stake of up to 9.944% of the paid-up equity share capital of the company.
• Recently, Go Digit General Insurance filed draft papers with SEBI to raise funds through an initial public offering (IPO).

 Banking & Finance

10. Tata Neu partners with HDFC Bank to launch co-branded credit card variants

• Tata Neu and HDFC Bank have partnered to launch two co-branded credit cards variants-
  • (1) Tata Neu Plus HDFC Bank Credit Card
  • (2) Tata Neu Infinity HDFC Bank Credit Card
• Customers will earn 2% NeuCoins with Tata Neu Plus HDFC Bank Credit Card on all purchases on partner Tata brands.
• And, customer will earn 5% NeuCoins with Tata Neu Infinity HDFC Bank Credit Card.
• Tata Neu customers can apply for the credit card on the Tata Neu app and access its key details. 

 National Affairs

11. Anurag Thakur launched 'Azadi Quest' online educational games

• Union Minister of Information and Broadcasting, Anurag Singh Thakur has launched 'Azadi Quest, a series of online educational mobile games.
• This game has been developed by Zynga India in collaboration with the Publications Division and Indian Council of Historical Research (ICHR).
• The Azadi Quest games are available for android and iOS devices in English and Hindi from September 2022.
• Zynga India was established in 2010 in Bengaluru.

 Banking & Finance

12. SBI topped the debit card market and HDFC leads credit card

• As per the latest data collated by PGA Labs shows that, the State Bank Of India has topped debit cards market with a 30% market share, as of June 2022.
• Followed by Bank of Baroda (8% market share), Bank of India, Canara Bank Union Bank, and Punjab National Bank with 5% each.
• HDFC Bank also topped the charts in the credit cards segment with a market share of 22%, followed by SBI (18%), ICICI Bank (17%), Axis Bank (12%), RBL Bank (5%), and Kotak Mahindra Bank (5%).

 Banking & Finance

13. BOB financial launched contactless credit card with Indian Army

• Indian Army has introduced a Yoddha co-branded credit card in association with BOB Financial Solutions Limited (BFSL) and National Payments Corporation of India (NPCI).
• This co-branded credit card will be available on the RuPay platform and have contactless features.
• All members of the Indian Army will be eligible for the co-branded credit card’s Life Time Free (LTF) offer.
• The Yoddha credit card will offer features like Personal Accident Insurance and many more.

 Important Dates

14. World Water Week 2022: 23 August to 1 September

• The World Water Week 2022 is being organised from 23 August to 1 September.
• The Stockholm International Water Institute (SIWI) has organized World Water Week to transform the global water challenges.
• Theme of World Water Week Conference 2022: Seeing the Unseen: The Value of Water
• There will be six main sessions held from August 23 to September 1.
• World Water Week conference has been held every year since 1991.
• World Water Day 2022: 22 March