Shankar School of Banking August 10 , 2022 263


Microsoft Becomes First to Join Open Network 

  • Microsoft has become the first big tech company to join Open Network for Digital Commerce (ONDC). 

  • It is an Indian government-backed platform created to provide a level playing field to all e-commerce companies. 

  • Through ONDC it intends to introduce social e-commerce in the Indian market. 

  • It will also launch a shopping app in India, which will be available on the ONDC network and will allow buyers to discover the best price offered by retailers and sellers. 

DefExpo to be Held in Gandhinagar 

  • The 12th edition of DefExpo - India’s flagship exhibition on Land, Naval and Homeland Security systems will be held in Gandhinagar, Gujarat between 18 October and 22 October 2022. 

  • The theme of DefExpo 2022 is ‘Path to Pride’. 

  • DefExpo 2022 is in line with the vision of Prime Minister Shri Narendra Modi to achieve self-reliance in defence and achieve export of $5 billion by 2025. 

  • It is Asia’s largest exhibition. The five-day event will witness three business days followed by two public days. 



Exercise Vajra Prahar 2022 

  • The 13th Edition of the Indo-US Joint Special Forces exercise "Ex Vajra Prahar 2022" commenced at the Special Forces Training School (SFTS) in Himchal Pradesh's Bakloh. 

  • The exercise aims to share best practices and experiences in areas such as joint mission planning and operational tactics and also to improve inter-operability between the special forces of both nations. 

  • This annual exercise is hosted alternatively between India and the United States. 

  • The 12th edition was conducted at Joint Base Lewis Mcchord, Washington (USA) in October 2021. 

  • The US contingent is represented by personnel from the 1st Special Forces Group (SFG) and Special Tactics Squadron (STS) of US Special Forces and the Indian Army contingent is formed by drawing Special Forces personnel. 

Russia Signs Contract to Supply Radio Equipments 

  • The Russian enterprise Scientific and Production Corporation “Radio technical Systems” (RTS) of Russia has signed a large-scale contract with the Airports Authority of India (AAI) for the supply of radio equipment. 

  • The Russian company will manufacture 34 sets of instrument landing systems (ILS)-734 for the modernization of 24 airports in India. 

  • According to the contract, the first part of landing systems ILS-734 must be shipped before November 2022 and the payments within the transaction will be carried out in national currencies. 

  • The ILS- 734 system allows for the landing of equipped aircraft with a runway visual range of a minimum of 50 meters and a decision height of a minimum of 15 meters. 

  • The landing system is subject to increased requirements for the reliability and stability of the output parameters of the equipment. 



HDFC Receives In-Principle Approval from SEBI 

  • Capital markets regulator Securities and Exchange Board of India (SEBI) has granted in-principle approval for a change in control of HDFC Asset Management Company (AMC), a subsidiary of HDFC and the asset management company of HDFC Mutual Fund due to a change in co-sponsor of HDFC Mutual Fund on account of proposed amalgamation of HDFC with and into HDFC Bank. 

  • It has already received no-objection or approval from stock exchanges and RBI. 

  • The change in control of the asset management company is part of HDFC’s merger deal with HDFC Bank. 

  • This is subject to the approval of the National Company Law Tribunal (NCLT) under Sections 230-232 of the Companies Act. 

  • HDFC AMC is the investment manager of the schemes of HDFC Mutual Fund. 



Commonwealth Games 2022 

  • The 2022 commonwealth Games conducted in Birmingham was concluded on 08 August 2022. 

  • India finished fourth in the medals tally with 61 medals comprising 22 gold, 16 silver and 23 bronze in the event. 

  • India bagged a total of 12 medals in wrestling, the most in any sport in the 2022 Games. 

  • Australia topped the medals tally with a totla of 178 medals comprising 66 gold, 55 silver and 53 bronze. 

  • England emerged second position with 168 medals which is followed by Canada with 92 medals. 

44th Chess Olympiad 

  • The 44th Chess Olympiad inaugurated by Prime minister Narendra Modi in Chennai on the 28th of July ended on 09 August 2022. 

  • India 'B' team comprising D Gukesh, R Praggnanandhaa, Raunak Sadhwaniand and Adhiban won the bronze medal beating Germany. 

  • The Uzbekistan team, which was seeded 14th in the tournament won the gold medal in the men's section. 

  • In women's section, India 'A' team have won the bronze medal. The team comprising Vaishali and Koneru Humphy, Tania Sachdev and Bhakti Kulkari. 

  • The next edition of the chess Olympiad will be held in Budapest in Hungary in 2024. 

Tennis Legend Serena Wiliams Announced Retirement 

  • American legend Serena Williams, winner of 23 Grand Slam titles, announced her retirement from tennis on 09 August 2022. 

  • Serena will play her last match at the US Open, which is starting on August 29. 

  • She is the only woman to have recorded more than 65 wins across all four Grand slams. 

AIFF Footballer of the Year 

  • Manisha Kalyan and Sunil Chhetri have been named the AIFF Women’s and Men’s Footballer of the year respectively for the 2021-2022 season. 

  • For Kalyan, it was her first Women’s Footballer of the year award. 

  • While Chhetri has been honoured for the seventh time with this award. 

  • He was first named for the award in 2007. 



US Heritage Wall of Fame 

  • Ahmedabad University professor Ramadhar Singh has been marked on the ‘Heritage Wall of Fame’ of the society for Personality and Social Psychology (SPSP) in the United States. 

  • With this, he has become the only social psychologist from India to receive this honour. 

  • To advance psychology as a science in Asia, Professor Singh played critical roles at the national level in India through the University Grants Commission (UGC) and in Asia through the Asian Association of Social Psychology. 

  • At the international level, he served as a consulting and associate editor of several journals and a member of the Mentor Award Committee of the Association for Psychological Science (APS), US. 



Samudrayaan Mission to Send Humans in Ocean 

  • The centre will soon begin a mega ocean misson called ‘Samudrayaan’ to explore the deep-sea waters. 

  • The Indian Government launched the Samudrayaan mission in October 2021. 

  • National Institute of Ocean Technology (NIOT), Chennai an institute under the Ministry of Earth Sciences (MoES), has developed a 6000 m depth-rated Remotely Operated Vehicle (ROV). 

  • It is aimed to develop a self-propelled manned submersible to carry three human begins to a water depth of 6000m in the ocean with a suite of scientific sensors and tools for deep ocean exploration. 

  • It has an endurance of 12 hours of operational period. 

  • The Centre had approved the Deep Ocean Mission (DOM) at a total budget of Rs 4,077 crore for five years.  

  • The estimated cost for the first phase for the 3 years from 2021-2024 would be Rs 2,823.4 crore. 



CFO of Power Grid Corporation 

  • Power Grid Corporation of India Limited has appointed Pramod Kumar as chief financial officer (CFO) of the company. 

  • Prior to this, Kumar served as Executive Director (Finance) of Power Grid Corporation. 

  • Pramod Kumar is a fellow member of the Institute of Chartered Accountants of India (ICAI), having experience of 35 years in the power sector involving almost all areas of finance and accounting function. 

  • Power grid was founded in 1989 and is headquartered in Gurgaon. 



International Day of the World ‘s Indigenous Peoples 

  • International Day of the World’s Indigenous People is celebrated every year on 09 August. 

  • The day is aimed to promote and protect the rights of Indigenous Peoples around the world.  

  • It was first announced by the United Nations General Assembly in December 1994.  

  • The theme for the year 2022 is ‘The Role of indigenous Women in preservation and transmission of traditional knowledge’. 

  • The day marked the first meeting in 1982 of the UN Working Group on indigenous populations. 

  • The UN General Assembly also declared 1995-2004 as the International Decade of the World’s Indigenous Peoples. 

  • It declared the decade 2005-2015 as the Second International Decade. 



Marathi Actor Pradeep Patwardhan 

  • Veteran Marathi actor Pradeep Patwardhan passed away. He was at the age of 64. 

  • He was known for his performance in films such as ‘Chashme Bahaddar’ and ‘Mee Shivajiraje Bhosale Boltoy’. 

  • The actor also starred in bollywood films including Anurag Kashyap’s Bombay Velvet. 

  • Pradeep Patwardhan was best known for his hit Marathi play Moruchi Mavshi.  

Famed Japanese Fashion Designer Issey Miyake 

  • Issey Miyake, the celebrated Japanese fashion designer and the founder of the eponymous brand, passed away. He was at the age of 84. 

  • Miyake was born in Hiroshima in 1938. 

  • He was known to work with traditional and modern fashion techniques during his long career. 

  • By the 1990’s he was celebrated as one of the world’s most pioneering designers as he worked with materials from plastic to metal. 


Datewise Archives - Current Affairs