Daily GK Update: 6th August 2022

By Md Mansur Alam|Updated : August 6th, 2022

 Science & Technology

1. ISRO to send Small Satellite Launch Vehicle from Sriharikota

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  • The Indian Space Research Organization will send a small satellite launch vehicle on 7th August, 2022 from Sriharikota.
  • It is a three-stage vehicle with all solid propulsion stages.
  • The mission is to launch Earth Observation Satellite, EOS-02, and a co-passenger satellite, 'Azaadi SAT', into low earth orbit.
  • The 'Azaadi Satellite' is designed by 750 girl students of government schools in rural areas from Kashmir to Kanyakumari. 
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 National & International Appointments

2. Unity SFB appoints Inderjit Camotra as MD & CEO

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  • Unity Small Finance Bank (USFB) has appointed Inderjit Camotra, as its MD & CEO. 
  • His appointment has been approved by the RBI and Unity Bank’s Board.
  • Prior to this appointment he was interim CEO of the Bank.
  • Camotra has over 25 years of experience as a Banker in leadership positions at Standard Chartered Bank, ANZ and Citibank.
  • USFB has been promoted by Centrum Financial Services (Centrum Group) with Resilient Innovations (BharatPe) as joint investor.
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 Banking & Finance

3. India’s Food Processing Industry Could Reach $530 Bn by FY27: Report

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  • According to a report, the Indian Food Processing industry could potentially grow at a CAGR of 10-11% to reach $500-530 bn by FY27.
  • This is due to its strong agricultural background and several favourable trends supporting its progress.
  • According to the report, India has emerged as a global agricultural powerhouse.
  • Now it is the world's 2nd-largest agricultural producer, leading in the production of cereals, pulses, fruits and vegetables, sugar, and milk.
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 National & International Appointments

4. Catamaran Ventures appoints ex-Infosys honchos as Chairman and President

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  • Catamaran, an investment firm, has announced the appointment of MD Ranganath as its Chairman, and Deepak Padaki as its President
  • Padaki will be responsible for driving the firm’s investment management strategy in its mission to nurture ideas from entrepreneurs into impactful business outcomes.
  • Ranganath served as the Chief Financial Officer at Infosys for 18 years till 2018.
  • Padaki too served at Infosys as EVP, group head of strategy and M&A, and chief risk officer
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 Banking & Finance

5. RBI to issue guidelines for outsourcing of financial services

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  • The Reserve Bank of India will soon issue draft guidelines on outsourcing of financial services by financial institutions.
  • The draft norms, deemed to be titled ‘RBI (Managing Risks and Code of Conduct in Outsourcing of Financial Services) Directions, 2022’, will be issued for public comments and feedback shortly.
  • The revised norms will expand the scope of the directions to include regional rural banks, local area banks, AIFI, CIC and non-scheduled payments banks.
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 Banking & Finance

6. Dr Agarwals acquires five eye hospitals in Pune

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  • Chennai-based Dr Agarwals Eye Hospitals has strengthened its presence in Maharashtra by acquiring five eye hospitals in Pune.
  • The leading eye care chain announced it has acquired Prabhudesai Eye Clinic (Kothrud); Global Eye Care Clinic (Pimpri Chinchwad and Sangvi); Om Eye Care (Viman Nagar and Vishrantwadi), all of which have been eyecare centres of repute in Pune for many years.
  • The eye care chain now runs 118 eye hospitals across the country and abroad.
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 Banking & Finance

7. Reliance Infrastructure to raise $400 million through FCCBs

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  • The board of infrastructure company Reliance Infrastructure has authorised the issuance of up to $400 million, 5 per cent unsecured Foreign Currency Convertible Bonds (FCCBs) on a private placement basis.
  • The FCCBs shall be convertible into equity shares of ₹10 each of the company as per the FCCBs term, at ₹123 (including a premium of ₹113) per equity share.
  • The tenure of the bonds will be ten years.
  • Each FCCB of $1,000,000 is equivalent to ₹7.94 crore.
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 Banking & Finance

8. RBI imposes penalty of ₹82 lakh on Jupiter Capital, ₹32 lakh on Indian Bank

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  • The RBI has imposed a penalty of ₹82 lakh on Bengaluru-based Jupiter Capital Private Ltd, for breach of norms on submission of credit information.
  • RBI also imposed a fine of ₹32 lakh on Indian Bank for breach of directions on classification and reporting of frauds.
  • The examination of the Risk Assessment Report, Inspection Report and all related correspondence revealed that Indian Bank was in violation of certain provisions of RBI Directions, 2016.
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 Science & Technology

9. China successfully launches pilot reusable spacecraft: Report

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  • China successfully launched a pilot reusable spacecraft with its Long March-2F carrier rocket.
  • The unidentified spacecraft, which was launched from China's Jiuquan Satellite Launch Center, will return to a planned landing site after operating in the orbit for some time to provide technical validations for reuses.
  • A similar mission was launched by China in 2020.
  • Spacecraft will operate in orbit for some time and then return to the intended landing site in China.
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 Sports

10. Sakshi Malik, Deepak Punia win gold in wrestling at CWG 2022

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  • Wrestlers Sakshi Malik and Deepak Poonia presented a double gold delight at Commonwealth Games 2022 at Birmingham. 
  • Sakshi Malik stood atop the podium in the women’s freestyle 62 kg category, while Deepak Punia secured the gold medal in the men’s freestyle 86 kg category.
  • Sakshi was up against the Pan American champion – Ana Paula Godinez Gonzalez from Canada in the gold medal match. 
  • Deepak Punia defeated Muhammad Inam of Pakistan.
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Daily GK Update: 6th August 2022

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