VINTAGE

IMPORTANT CURRENT AFFAIRS OF AUGUST 2^nd, 2018

                           IMPORTANT CURRENT AFFAIRS OF AUGUST 2^nd, 2018

1.  The 2-day 17th Indo-US Military Cooperation Meeting held today as a prelude to 2+2 Dialogue between India and United States scheduled next month.

a.   This meeting was co-chaired by Lieutenant General Satish Dua (Chief of Integrated Defence Staff to the Chairman) and Lieutenant General Bryan Fenton (Deputy Commander, Indo-Pacific Command).  

b.   Important Point to Note :

c.   External Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman would meet their US counterparts in 2 plus 2 meeting next month, a first such initiative between the two countries that will focus on strengthening defence and strategic ties.

d.   India and the US were also working to have a joint drill of all the three armed forces of the two countries.

2.  The United Arab Emirates (UAE) has begun a 3-month visa amnesty program which allows illegal foreign workers to legalise their status in the country or return home. 

a.   Residents overstaying their permits will not be fined if they leave the country voluntarily. 

b.   The amnesty also grants those seeking employment a six-month visa to find a job

3.  A Special Border Personnel meeting took place in Sikkim's Nathu La today between the armies of India and China as part of celebrations to commemorate the 91st anniversary of the foundation of China'sPeople's Liberation Army (PLA). 

a.   The Indian delegation attended the celebration following an invitation by the PLA.

   4.  Freedom fighter and designer of the Indian flag, Pingali Venkayya, was born on this day (2nd August) in the year 1876. 

a.   Venkayya's saffron and green flag design received inputs from Mahatma Gandhi and Lala Hansraj who suggested a white strip and Dharma Chakra, respectively.

b.   Note : In 2009, a postage stamp was issued to honour his contributions in the freedom struggle.

5.  India today unveiled a Tri Color Logo and Tagline for Geographical Indication (GI) certified products. 

a.   Union Industry Minister Suresh Prabhu unveiled the Logo and Tagline in Delhi. 

b.   Logo : Tricolor in the form of G, Human being and location pointer.

c.   Tagline : “Invaluable Treasures of Incredible India” 

d.   The purpose of logo and tagline for GI selected is to increase awareness about intellectual property rights (IPRs) and also and importance of GI products in the country. 

e.   From now on, GI-registered goods will sport logo and tagline to make them more attractive

f.    About GI :

g.   GI or Geographical Indication tag is name or sign used on certain products which correspond to specific geographical location or origin.

h.   It is used for agricultural, natural and manufactured goods having special quality and established reputation (e.g. a town, region, or country). 

i.     The goods and products having tag are recognised for their origin, quality and reputation and gives it required edge in global market.

6.  The Bombay High Court today ruled that Children born out of a second marriage don't have any rights on the family's joint-property. 

7.  Union Ministry of Culture launched Seva Bhoj Yojna, a new scheme to provide financial assistance on purchase of specific food items by Charitable Religious Institutions (CRIs) for free distribution among people. 

a.   Under this scheme, Centre’s share of Central Goods and Services Tax (CGST) and Interstate GST charged on raw food materials purchased by the religious institutions will be refunded.

b.   The scheme aims to reimburse Central Government share of Central Goods and Services Tax (CGST) and Integrated Goods and Service Tax (IGST) to lessen financial burden of religious and charitable institutions providing food, prasad, langar (Community Kitchen), Bhandara free of cost without any discrimination to public and devotees.

  8.  The government today appointed industrialists Kumar Mangalam Birla (Chairman of Aditya Birla Group) and Y C Deveshwar (Chairman of ITC) as Non-official Independent Directors in Air India.

9.  Hanan Hamid, the student from Kerala, who was trolled on social media for selling fish after college has been appointed as the Brand Ambassador of the Kerala Khadi Board. 

  10.              Kolkata-based Bandhan Bank today became India's 7th most valued listed lender, surpassing Yes Ban.

a.   HDFC Bank Ltd remained India’s most valuable bank followed by State Bank of India (SBI) and Kotak Mahindra Bank Ltd.

11. The Reserve Bank of India (RBI) has reportedly asked Paytm Payments Bank to stop adding new customers on its platform with immediate effect following an audit.

a.   The RBI observed that Paytm should have a better mechanism to store customers' data.  

b.   It also asked Paytm to have a separate office for its Payments Bank, different from Paytm's parent company One97 Communications' office.

12. Mukesh Ambani-led Reliance Industries has jumped 55 places to be ranked at 148th on the Fortune Global 500 list of the world's biggest companies by revenue. 

a.   State-owned Indian Oil Corporation (IOC) is the top-ranked Indian company at 137. 

b.   Other Indian companies in the list are ONGC, State Bank of India, Tata Motors, Bharat Petroleum and Rajesh Exports.

13. The government today clarified that WhatsApp can't launch its payments services 'WhatsApp Pay' in India without an office and a team in the country. 

a.   The government is also planning to approach RBI to make sure the company doesn't violate the rules.

14. The US Senate today passed a bill National Defence Authorisation Act (NDAA) 2019.

a.   This bill waives sanctions against India for buying Russian arms.

  15.              New Delhi-born Australian mathematician Akshay Venkatesh has won the prestigious Fields Medal 2018.

a.   The 36-year-old completed his PhD aged 20, did post-doctoral research at MIT, and is currently a professor at Stanford University. 

b.   Venkatesh, one of the four winners of the award, has worked on number theory, geometry, topology, automorphic forms, and ergodic theory. 

c.   Officially known as the International Medal for Outstanding Discoveries in Mathematics, the Fields Medal was presented by the International Mathematical Union on August 1st at the International Congress of Mathematicians (ICM), held this year in Rio de Janeiro, Brazil.

d.   The Fields Medal is considered as the "Nobel prize for mathematics". 

e.   Note : Venkatesh is one of the 4 winners of the prestigious award. The other 3 winners of Fields Medal 2018 are : 

i)    Peter Scholze (Germany)

ii)  Alessio Figalli, (Italy)

iii) Caucher Birkar (Iran)

  16.              Sashi Cheliah, a 39-year-old Indian-origin prison officer from Adelaide, has won MasterChef Australia 2018, defeating fellow contestant Ben Borsht and earning a prize money of $250,000.