Current Affairs 27th and 28th August 2022 Daily GK Update

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Current Affairs 27th and 28th August 2022 Daily GK Update

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National News

Bangladesh signed a contract with India for two railway projects

  • Bangladesh and India have signed two contracts for the construction of a new broad-gauge line between Khulna-Darsana and the conversion of meter gauge line into a dual-gauge line between Parbatipur and Kaunia.
  • These projects will enhance rail connectivity in Bangladesh and have potential to transform cross-border goods movement, boosting sub-regional growth.
  • The two projects are being implemented with financing under the Indian Line of Credit (LoC).
  • The 126-kilometer long Khulna-Darshana broad gauge rail line will have 147 bridges over it including 4 Girder bridges and 143 RCC box culvert bridges.
  • The project cost is Taka 3506 crore out of which Taka 2689 crore will come from the Indian Line of Credit. The current contract is for undertaking the feasibility study with a detailed engineering design for the project.
  • The project for the conversion of the meter gauge line from Parbatipur to Kaunia to dual gauge line will cover a distance of 57 kilometers. It has seven railway stations as well as 47 bridges including 14 girder bridges and 33 box culvert bridges.

About Bangladesh

  • Capital– Dhaka
  • Currency – Taka
  • President – Mohammad Abdul Hamid
  • Prime Minister – Sheikh Hasina

UP government to develop Kannauj as perfume tourism destination

  • The Uttar Pradesh government has decided to develop Kannauj as a perfume tourism destination.
  • The state government will organize an international perfume fair in Kannauj in December 2022.
  • The first phase of the perfume park being set up in the district will also be completed by November 2022.
  • The Uttar Pradesh government has planned to promote the perfume of Kannauj in the international market. The aim is to take the ₹250 crore perfume business to Rs 25,000 crores.
  • The perfume of Kannauj comes under the govt’s ‘One District, One Product’ initiative.

About Uttar Pradesh

  • Capital – Lucknow
  • Chief Minister – Yogi Adityanath

Governor – Anandiben Patel

Haridwar declared best aspirational district in India – NITI Aayog

  • The NITI Aayog has declared the holy city of Haridwar in Uttarakhand as the best aspirational district.
  • Along with the title of India’s Best Aspirational District, the district will also receive an additional Rs 3 Crores.
  • Launched in 2018, NITI Aayog’s Aspirational Districts Programme aims to identify potential districts that can develop into model blocks through socio-economic development.
  • Under the programme, the central government takes steps to improve the socio-economic condition of identified districts and ensure inclusive and holistic development.
  • The Aspirational District Programme launched by NITI Aayog evaluates the performance of districts on the basis of five key parameters.
  1. Health & Nutrition (30%)
  2. Education (30%)
  3. Agriculture & Water Resources (20%)
  4. Financial Inclusion & Skill Development (10%)
  5. Infrastructure (10%)

NITI Aayog (National Institution for Transforming India)

  • Founded – 1 January 2015
  • Preceding – Planning Commission (15th March 1950)
  • Headquarters – New Delhi
  • Chairperson – Narendra Modi
  • Vice Chairperson – Suman K Bery
  • CEO – Parameswaran Iyer
  • NITI Aayog comes under the Ministry of Commerce and Industry

Rail Tel partnered with CloudExtel to launch India’s first shared RAN

  • RailTel (a CPSU of the Ministry of Railways) has partnered with CloudExtel (a known Full Stack Network as a Service (NaaS) Provider) to launch India’s first Shared Radio Access Network (RAN) solution for congested locations with the objective of enhancing telecom users’ experience.
  • They carried out the successful pilot of this project with Bharti Airtel, Vodafone Idea, and Nokia.
  • The Telecom Infra Project (TIP)’s NaaS Solutions Group, with vital support from the Railways, is in one of the most networks, stressed locations namely Mumbai Central railway station.

Recent agreements

  • Rail Tel partnered with CloudExtel to launch India’s first shared RAN
  • Universal Sompo partnered with Repco Home Finance to insure loans
  • HDFC Bank partnered with Tata Neu to launch two new credit cards
  • KreditBee partnered with Cashfree to offer EMI solutions
  • Royal Enfield partnered with UNESCO to promote cultural heritage of India

AAI signed an MoU with Sweden’s LFV Air Navigation Services to explore smart aviation solutions

  • Airports Authority of India (AAI) has signed an MoU with Sweden’s LFV Air Navigation Services for developing and operationalizing the next-generation sustainable aviation technology to explore smart aviation solutions.
  • It aims to expand technical cooperation in airports and support the development of a safe, secure, sustainable, and efficient aviation sector.
  • Klas Molin, Ambassador of Sweden to India, talked about the long-standing collaboration between India and Sweden.

Recent Agreements

  • Bharat Forge arm signed an agreement with Talgo for manufacturing trains
  • ONGC signed an MoU with Greenko to produce green hydrogen
  • ONGC signed gas sale agreements with GAIL & AGCL
  • NHPC signed an MoU with DVC for setting up hydropower projects and pump storage projects
  • JSW Steel partnered with BCG to accelerate decarbonization journey

India & Mauritius 3rd Joint Committee Meeting held in New Delhi

  • The third India & Mauritius Joint Committee Meeting on Small and Medium Enterprise Cooperation was held in New Delhi.
  • The Indian side was led by Minister for Micro, Small and Medium Enterprises Narayan Rane.
  • During the Mauritius delegation’s visit two MoUs on cooperation have also been signed.
  • One of them was signed between SME Mauritius Ltd. and EDII Ahmedabad.

TVS Motor acquire 48% stake in DriveX for 85 crore

  • Leading two-wheelers manufacturing firm TVS Motor Company has announced an acquisition of 48 percent stake in Narain Karthikeyan’s two-wheeler startup DriveX for Rs 85.4 crores.
  • Karthikeyan’s firm Nkars Mobility Millennial Solutions Private Limited (NMMSPL) operates a digital platform ‘DriveX’ which provides two-wheelers to customers on a subscription model for a flexible tenure.

About TVS Motor Company (TVS)

  • Founded – 1978
  • Founder – T. V. Sundaram Iyengar
  • Headquarters – Chennai, Tamil Nadu
  • Chairman & Managing Director – Venu Srinivasan

India & Bangladesh Joint River Commission meeting held in New Delhi

  • The 38th Meeting of Ministerial level Joint Rivers Commission (JRC) of India and Bangladesh was held in New Delhi.
  • The two sides finalized the text of MoU on ‘Interim Water Sharing of Kushiyara River.
  • India and Bangladesh share 54 rivers, of which 7 rivers have been identified earlier for developing the framework of water sharing agreements on priority.
  • Both sides also welcomed the finalization of the design and location of the water intake point on the Feni River to meet the drinking water needs of Sabroom town in Tripura.

About Bangladesh

  • Capital– Dhaka
  • Currency – Taka
  • President – Mohammad Abdul Hamid
  • Prime Minister – Sheikh Hasina

India’s first 3D-printed post office to come up in Bengaluru

  • The first 3D-printed post office in India will come up in Bengaluru, Karnataka.
  • Cambridge Layout in Halasuru is set to witness this technological marvel, making it the first post office in the country to be built using 3D printing.
  • A building of around 1,000 square feet here would cost less than Rs 25 lakh if 3D printing technology is used. This would work out to just 25 percent of the normal construction cost.
  • L&T has obtained technology approval from the Building Materials and Technology Promotion Council of the Ministry of Housing and Urban Affairs and IIT-Madras for 3D concrete printing for structures running from ground-plus-three floors.

About Karnataka

  • Capital – Bengaluru
  • Chief Minister –Basavaraj Bommai
  • Governor – Thawar Chand Gehlot

Anang Tal Lake declared monument of national importance

  • The Anang Tal Lake in South Delhi has been declared a monument of national importance.
  • The mini lake, known as Anang Tal, was created in 1060 AD by Raja Anang Pal Tomar, the founder of Delhi. It lies in area between the flood plain of river and Delhi Ridge. Delhi Ridge is a Northern extension of ancient Aravalli Range.
  • The Monuments of National Importance are designated by the Archaeological Survey of India (ASI).
  • Once designated, the ASI restricts construction activity in the site’s vicinity.

PM Modi participated in Khadi Utsav in Ahmedabad

  • PM Narendra Modi has addressed Khadi Utsav at the Sabarmati riverfront in Ahmedabad.
  • The unique Khadi Utsav is being organised as part of the Azadi Ka Amrit Mahotsav to highlight the importance of khadi in country’s freedom struggle.
  • He also inaugurated a foot over bridge named as Atal Bridge built over Sabarmati River connecting the eastern and western side of the city.
  • The ‘Utsav’ or festival is being organised at Sabarmati Riverfront, Ahmedabad in which around 7,500 women khadi artisans from various districts of Gujarat participated.
  • The event also feature an exhibition on the evolution of Charkhas.

About Gujarat

  • Capital – Gandhinagar
  • Chief Minister – Bhupendra Patel
  • Governor – Acharya Devvrat

IOC to spend Rs 2 lakh crore for net-zero target by 2046

  • Indian Oil Corporation (IOC) will invest Rs 2 lakh crore to achieve net-zero operational carbon emissions by 2046.
  • The target set is in line with India’s aim to reach net-zero emissions by 2070.
  • The investment of over Rs 2 lakh crore will help mitigate emissions to about 0.7 billion metric tonnes of carbon dioxide a year by then.
  • The company plans to use natural gas in refineries in place of liquid fuels as well as replace grey hydrogen with green one that is manufactured from renewable power.

About Indian Oil Corporation Limited (IOCL)

  • Founded – 30 June 1959
  • Headquarters – New Delhi
  • Chairman – Shrikant Madhav Vaidya
  • Owner – Government of India (52.1%)

List of Important India’s Target Year

  • 2022 – Trans Fat Free status.
  • 2021-22 – Indian Railways planned 1000-Megawatt Solar Power.
  • 2022 – Indian renewable energy 175 GW installation.
  • 2022 – Doubling Farmers income.
  • 2022 – Doubling tiger population.
  • 2023 – Indian Railways electrify Broad Gauge routes.
  • 2023-24 – India produce one billion tonnes of coal.
  • 2024 – India aims to reduce road accidents by 50%.
  • 2024 – Indian railways 100% electrification.
  • 2024 – Provide Clean Drinking Water to All Citizens.
  • 2024 – Har ghar jal for rural households.
  • 2025 – Defence target of Rs 35,000 crores.
  • 2025 – To Eliminate TB.
  • 2025 – India’s vision of 5 trillion economy.
  • 2025 – India set the target to create 220 new airports.
  • 2030 – Indian railways Net Zero’ Carbon Emission.
  • 2030 – India reduce the energy intensity by 33-35%.
  • 2030 – India plans 500 GW renewable energy.

International News

South Korea signed USD 2.25 billion deal with Russian nuclear company

  • South Korea has signed a USD 2.25 billion deal with a Russian state-run nuclear energy company ASE.
  • It has been signed to provide components for Egypt’s first nuclear power plant.
  • ASE is a subsidiary of Rosatom, a state-owned Russian nuclear conglomerate.
  • South Korea has also signed a USD 20 billion contract to build nuclear power reactors in the UAE.

About South Korea

  • Capital – Seoul
  • Currency – South Korean Won
  • Prime Minister – Han Duck-soo
  • President – Yoon Seok-youl

Mac Rutherford becomes youngest person to fly solo around the world

  • 17-year-old British pilot Mac Rutherford has become the youngest person to fly solo around the world in a small aircraft.
  • Rutherford took off from Sofia on March 23 this year and landed again here after flying through 52 countries (5 continents) and logging up around 250 hours of flying time. Bulgaria was the starting and ending point of his journey due to the sponsorship of Bulgarian company ICDSoft.
  • He made this record in just 150 days.
  • He began his journey on 23 March 2022 & landed his aircraft in the Bulgarian capital.
  • The flight took Rutherford through 52 countries over five continents

Banking and Financial

RBI imposed restrictions on Thodupuzha Urban Co-operative Bank

  • The Reserve Bank of India has imposed certain restrictions on Kerala-based, Thodupuzha Urban Co-operative Bank for a period of six months.
  • RBI has banned the bank from granting or renewing loans and advances and making any investments.
  • RBI has also 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.

About Reserve Bank of India (RBI)

  • Founded – 1 April 1935
  • RBI Nationalized – 1 January 1949
  • Headquarters – Mumbai, Maharashtra
  • RBI set up – Hilton Young Commission
  • 1st Governor – Sir Osborne Smith (Australia)
  • 1st Indian Governor – CD Deshmukh
  • 25th Governor – Shaktikanta Das
  • RBI Deputy Governor (4) – 1. Tavarna Rabi Sankar
  1. Mukesh Kumar Jain
  2. Michael D Patra
  3. M Rajeshwar Rao

List of Banks who has been imposed penalty by RBI Recently

  • RBI imposed penalty of 1.67 crore on Ola Financial Services
  • RBI imposed penalty of Rs. 5.72 crore on Federal Bank
  • RBI imposed penalties of 70 lakh on Bank of India
  • RBI imposed Rs. 59 lakh penalty on KEB Hana Bank
  • RBI monetary penalty on Bassein Catholic Co-operative Bank of Rs. 49 lakh and Jila Sahakari Kendriya Bank Maryadit of Rs. 50,000 for rule violations
  • RBI imposed monetary penalty of Rs 27.50 lakh on Punjab & Sind Bank

Bank credit growth accelerated to 14.2% in June quarter: RBI data

  • RBI released the ‘Quarterly Statistics on Deposits and Credit of SCBs for June 2022.
  • Bank credit growth accelerated to 14.2 percent in the quarter ended June 2022 from 6 percent in the same period of the previous year.
  • In the quarter that ended March 2022, bank credit had expanded by 10.8 percent.
  • Aggregate deposit growth remained in the range of 9.5 – 10.2 percent during the last 5 quarters.
  • This data is collected from all scheduled commercial banks (SCBs), which include regional rural banks (RRBs), small finance banks (SFBs), and payments banks (PBs).

Bandhan Bank to open 551 branches in FY23

  • Bandhan Bank will open 551 more branches in the FY 2022-23 fiscal, as part of the lender’s focus to make its distribution stronger in other parts of India outside the eastern region.
  • With the latest addition, the bank’s branch count will exceed 6,000.
  • The bank’s push for digital and tech transformation has been a great success, with 92 percent of the total transactions taking place through the digital route.

About Bandhan Bank

  • Founded 2001
  • Founder Chandra Shekhar Ghosh
  • Headquarters – Kolkata
  • CEO – Chandra Shekhar Ghosh
  • Chairperson – Anup Kumar Sinha

Appointment and Resignation

Mahendra Shah appointed as new MD of IDFC

  • Mahendra N Shah has been appointed as the new Managing Director (MD) of IDFC limited.
  • He will take over the post on 1 October 2022.
  • Shah will replace incumbent MD Sunil Kakar, whose term will end on September 30, 2022.
  • Prior to this appointment, Shah was Company Secretary & Compliance Officer of IDFC since May 2019.

About IDFC Limited

  • Founded – October 2015.
  • Headquarters – Mumbai
  • CEO – V. Vaidyanathan

Recent Appointment

  • Chirman of DRDO – Samir V. Kamat
  • Non-executive directors of RBL Bank – Gopal Jain & Sivakumar Gopalan
  • NDDB Chairman – Meenesh Shah (extend 6 months)
  • CFO of Credit Suisse – Dixit Joshi
  • Director of the National Institute of Immunology (NII) – Debasisa Mohanty


Satwik & Chirag won 1st medal for India in World Badminton Championship

  • The Indian duo of Satwiksairaj Rankireddy and Chirag Shetty won a historic medal at the World Championships in Tokyo, Japan.
  • They became the first-ever Indian pair to claim a medal in the men’s doubles competition.
  • Ranked number seven in the world, the Indian pair defeated the world number two Takuro Hoki and Yugo Kobayashi of Japan in the quarterfinals.

About Japan

  • Capital – Tokyo
  • Currency – Yen
  • Prime Minister – Fumio Kishida

Arjun Erigaisi won Abu Dhabi Masters Chess tournament

  • Indian Grandmaster Arjun Erigaisi has won the 28th Abu Dhabi Masters Chess tournament.
  • He defeated Spain’s David Anton Guijarro in the ninth and final round with 7.5 points.
  • Erigaisi is currently at number three in India on the live rating list.
  • Erigaisi hails from Telangana & is the 54th grandmaster from India.
  • In 2018, he became the first grandmaster from Telangana state.

Virat Kohli to become only player to play 100 matches for his country

  • Virat Kohli has play for his country in his 100th T201 match and become the only Indian player in history to play 100 matches for his country in all forms.
  • Indian captain has become the first Indian cricketer and second overall, after New Zealand great Ross Taylor, to play 100 matches in all three formats of the game.
  • Virat has played for Team India in 99 T201 matches so far, scoring 3,308 runs with an average of 50.12.
  • He has 30 half-centuries in this format.

Important day

26 August – International Dog Day

  • International Dog Day is celebrated on 26 August every year.
  • It was first celebrated in 2004 by animal welfare activist and pet lifestyle expert Colleen Paige.
  • In 2013, it was adopted and recognized as a national holiday. Later on, other nations also started celebrating it officially by feeding dogs, sheltering them, and grooming them.
  • Paige chose the date of August 26 in particular as it was on this date that the activist’s family adopted their first dog “Sheltie” from the local animal shelter.
  • She is the founder of National Wildlife Day as well.







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