Daily GK Update: 4th September 2022

 Sports

1. Pallathuruthy Boat Club wins 68th edition of Nehru Trophy Boat Race

• Pallathuruthy boat club has won the 68th edition of Nehru Trophy for a boat race, was organised on Punnamada lake, Alappuzha district of Kerala.
• 'Mahadevikkadu Kattil Thekkethil’ by Pallathuruthy boat club won the trophy.
• While NCDC Boat club’s ‘Nadubhagam’ of Kumarakam has secured the second place in the race.
• The boat of Pallathuruthy boat club has won the title by clearing the distance of 1.15 km in 4.30.77 minutes.
• This is the third time that Pallathuruthy won trophy.

 State Affairs

2. APEDA and Manipur organize in-store export promotion show for pineapples

• The Agricultural & Processed Food Products Export Development Authority (APEDA) has organized an in-store export promotion programme of Manipur’s pineapples in Dubai, UAE.
• Aim: To promote locally produced agricultural products in the international markets.
• Manipur Organic Mission Agency (MOMA) has supported the sourcing of organic certified Kwe variety of pineapples.
• Top five importing countries of Indian pineapples: UAE, Nepal, Qatar, Maldives, USA

 Summits & Conferences

3. Home Minister, Amit Shah inaugurated the 6th All India Prison Duty Meet

• Union Home Minister, Amit Shah has inaugurated 6th All India Prison Duty Meet in Ahmedabad, Gujarat.
• It is a biennial event, organised by the Bureau of Police Research and Development.
• The event was attended by Gujarat Chief Minister, Bhupendra Patel and Minister of State for Home, Harsh Sanghavi.
• AIPDM was last organised in Ahmedabad in 2007, It was the second ever meeting
• He has also participated in the closing ceremony of 11th Khel Mahakumbh at TransStadia, Kankaria

 Obituaries

4. Former Tata Sons chairman, Cyrus Mistry passes away

• Former chairman of Tata Sons and scion of the Shapoorji Pallonji group, Cyrus Mistry (54) has been passed away in a car accident.
• He had served as the chairman of the Tata group in 2012, he succeeded Ratan Tata.
• He was the sixth chairman of the Tata group and second chairman who did not have the Tata surname.
• He joined the Tata Sons board as a director in 2006.
• The Mistry family owns an 18.4% stake in Tata Sons, while the Tata Trusts own a 66% stake in the company.

 Banking & Finance

5. India’s forex reserves decline by $3 billion to $561 billion

• As per the official data of RBI, India's foreign exchange (forex) reserves has been declined to $561 billion in the week ending August 26, 2022.
• India's FER has declined sharply in recent months as the RBI continues to intervene in the currency markets to defend the rupee.
• The value of gold reserves also fall down by $271 million to $39.643 billion during the week ended August 26.
• The value of India’s SDRs with IMF has also declined by $155 million to $17.832 billion.

 State Affairs

6. Karnataka govt launches global startup challenge

• The Karnataka government has launched a Global Startup Challenge named VentuRISE.
• Aim: To support growth stage startups in manufacturing and sustainability-related sectors.
• VentuRISE, it will be a part of the Global Investors Meet - Invest Karnataka 2022 that will be held from 2 - 4 November in Bengaluru.
• Cash prize: $ 100,000
• The global challenge will help entrepreneurs to showcase their innovative products or solutions and connect with potential investors.

 Agreement

7. BEL, Smiths Detection India sign MoU to manufacture scanning systems

• Bharat Electronics Limited (BEL) has signed an MoU with Smiths Detection for offering advanced, high-energy scanning systems to the Indian market.
• The MoU will leverage the high-end, technological capabilities of both the firms to meet India’s domestic security needs.
• The MoU was signed in line with the Indian Government’s ‘Make in India’ initiative.
• About BEL
  • HQ: Bengaluru
  • Founded: 1954
  • Chairman and MD: Anandi Ramalingam
  • It has been granted Navratna status.

 Banking & Finance

8. Sebi restructured panel on cyber security

• The Securities and Exchange Board of India has restructured its panel on cyber security that recommends measures to safeguard the capital markets from such attacks.
• The committee will be chaired by Navin Kumar Singh, DG at National Critical Information Infrastructure Protection Centre (NCIIPC)
• Earlier, The committee had only four members but now it has six members.
• Other members: Sanjay Bahl, H Krishnamurthy, Sandeep Shukla and Debdeep Mukhopadhyay, Sugata Gangopadhyay

 National Affairs

9. Union Minister Nitin Gadkari unveils India's first LNG-fuelled green truck

• Union Minister of Road Transport and Highways, Nitin Gadkari has inaugurated India’s first Liquefied Natural Gas (LNG) fuelled green truck in Chakan near Pune.
• It was manufactured by the Blue Energy Motors, a start-up backed by a Singapore-based firm.
• The trucks are powered by Iveco FPT, global powertrain brand of Iveco Group.
• The engines of truck generate high torque and help trucks deliver best in class TCO (total cost of ownership).

 Banking & Finance

10. RBI launches pilot project to digitise Kisan Credit Card

• The Reserve Bank of India (RBI) has launched a pilot project for end-to-end digitization of Kisan Credit Card (KCC) lending.
• The pilot has been developed by the central bank and its subsidiary Reserve Bank Innovation Hub (RBIH).
• Objective:  To make it more efficient and reduce costs for borrowers.
• States for pilot project: Madhya Pradesh and Tamil Nadu with Union Bank of India and Federal Bank, respectively
• KCC scheme was introduced in 1998.