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Compendium-August, 2018
National
Gaganyaan Mission: ISRO unveils plans for India’s manned space flight mission
Indian Space Research Organization (ISRO) unveiled details of its first indigenous human
space mission dubbed as Gaganyaan to be launched in 2022.
The mission was announced by Prime Minister Narendra Modi during
his 72nd Independence Day speech. Under it, three Indian astronauts
(Gaganyatris) will be taken to space on board Gaganyaan spacecraft by
2022.
This will be the first human space mission to be indigenously developed
by ISRO. If successful, India will become fourth nation in the world to
send astronaut into space after US, Russia and China. Former Indian Air Force (IAF) Rakesh
Sharma was first Indian to travel to space. He was part of the Soviet Union’s Soyuz T-11
expedition, launched on April 2, 1984, of the Intercosmos programme.
Objectives of Gaganyaan Mission: Enhance of science and technology levels in the
country, serve as national project involving several institutes, academia and industry,
improve of industrial growth, inspire youth, develop technology for social benefits and
improve international collaboration.
Key Features of Mission
The entire cost of Gaganyaan mission will be less than Rs 10,000 crore. It will be totally
indigenous, very cost-effective mission by Indian standards which is not viable from
international standards.
Prior to actual launch of this manned mission by 2022, ISRO will launch two unmanned
Gaganyaan missions (first in 30 months’ time and then 36 months).
Launch Phase: GSLV Mk-III launch vehicle will be used to launch Gaganyaan as it has
necessary payload capability for this mission. The spacecraft will comprise of crew module
and service module that constitute orbital. It weighs approximately 7 tonnes and will be
placed in low earth orbit (LEO) of 300-400 km. Crew module’s size will be 3.7 meters and of
service module will be 7 meters.
Orbital Phase: The mission will send three-member crew to space for period of five to
seven days. The launch vehicle will take off from spaceport of Sriharikota, Andhra Pradesh
and it will reach desired orbit in 16 minutes.
The crew will be selected by Indian Air Force (IAF) and ISRO jointly after which they will
undergo training for two-three years. It will conduct microgravity experiment during the
mission.
Re-entry phase: The velocity of whole module will be reduced and will be turned in
opposite direction so that it can start to come down. When it will reach distance of 120 km
from Earth’s surface, service module will be removed and separated out.
The module carrying crew alone will come back to earth, this will take about 36 minutes to
reach Earth. ISRO is planning to land crew module in Arabian Sea, closer to Gujarat coast or
in Bay of Bengal or even on land from where the crew will be recovered
Execution time: The mission may be executed six months before India completes its 75th
Independence Day in 2022. It is expected to be completed before 2022.
Support technology developed by ISRO for Gaganyaan Mission
So far, ISRO has developed some critical technologies required manned space mission like
re-entry mission capability, crew escape system, crew module configuration, thermal
protection system, deceleration and floatation system and sub-systems of life support
system.
Some of these technologies have been demonstrated successfully through Space Capsule
Recovery Experiment (SRE-2007), Crew module Atmospheric Reentry Experiment (CARE-
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Compendium-August, 2018
2014) and Pad Abort Test (2018). These technologies will enable ISRO in accomplishing
programme objectives in short span of 4 years.
BIS banned the use of three chemicals in printing of packaging materials used for food
products
The Bureau of Indian Standards (BIS) banned the use of which three chemicals in printing
of packaging materials used for food products.
The three products are toluene, titanium acetylacetonate and phthalates.
The BIS in an internal meeting , decided to restrict use of three chemicals - toluene,
titanium acetylacetonate and phthalates in printing of packaging materials used for food
products.
Toluene, which is a chemical that is used in paint thinners, is known to migrate between
layers of packaging and potentially cause damage to liver and kidneys in humans.
Though widely used in India to print on packaging materials, toluene is banned in food
industry across the developed nations.
Mughalsarai Junction railway station to be named Pt. Deen Dayal Upadhyay Junction
Uttar Pradesh’s iconic Mughalsarai Junction was on 5 August 2018 formally renamed after
RSS ideologue Deen Dayal Uphadyay as Pt. Deen Dayal Upadhyay Junction.
The BJP president Amit Shah, Railway Minister Piyush Goyal and Uttar Pradesh Chief
Minister Yogi Adityanath took part in a grand renaming event at the station.
Upadhyay was found dead in mysterious circumstances near the Mughalsarai station in
February 1968. Mughalsarai is also the birthplace of former prime minister Lal Bahadur
Shastri.
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Compendium-August, 2018
Mughalsarai Junction is a century-old railway station on the busy Delhi-Howrah route and
is famous for having the largest railway marshaling yard in Asia.
It is also the fourth busiest railway junction in India.
On paper, Mughalsarai station got a new name after Uttar Pradesh Governor Ram Naik gave
his assent to the proposal in June 2018.
From 5 August 2018 the new name made its entry into the railway system and on IRCTC
site the name was found after entering the initials DDU.
India’s first all-woman SWAT team gets cracking, to secure Independence Day function
Delhi Police has inducted an all-woman Special Weapons and Tactics (SWAT) team
comprising 36 commandos.
It is the first-ever by any police force in India, for anti-terrorist operations.
The elite women commandos, hailing from north-eastern states, will be deployed at
strategic locations for securing the upcoming Independence Day celebrations.
Presiding over the induction ceremony, Union home minister Rajnath Singh expressed
happiness that the Delhi Police launched raised an all-woman SWAT team.
They will be deployed during the upcoming Independence Day celebrations.
The 36 women SWAT commandos have undergone a rigorous 15-month training
programme that includes basic, commando and advanced honing of skills under the
tutelage of National Security Guard trainers.
The government has increased fund allocation for the Delhi Police from Rs 6,378.18 crore
in 2017-18 to Rs 7,426.98 crore in 2018-19 - an increase of 15 % to ensure this.
The government has also sanctioned procurement of the Facial Recognition System for the
Crime Unit and 2,700 hand-held devices with SIM card for equipping constables with e-
beatbooks.
A proposal for the recruitment of 12,000 additional personnel in the Delhi Police is under
consideration, and approval has already been granted for 3,139.
The government also created 4,227 posts in 2016, and crime investigation has been
separated from law-and-order functions with an aim to improve the conviction rate.
Ease of Living Index: Mumbai ranked third, Navi Mumbai one step ahead
According to the ministry of housing and urban affairs,
Mumbai has been ranked third, after Pune and Navi
Mumbai, among 111 cities on the ease of living index.
The city scored 57.78 points as against Pune, which
scored 58.11 points at the second position, while Navi
Mumbai came first in India with 58.02 points.
Ease of Living Index gives thumbs up to Mumbai in public
open spaces, mixed land use, compactness, but residents
find the rankings surprising.
Mumbai has ranked first among mega cities in the Ease of Living Index 2018.
The index, an initiative of the Ministry of Housing and Urban Affairs, ranks cities on a 100-
point scale across 78 indicators under four heads: institutional, social, economic and
physical.
Physical is given the most weightage (45%), followed by social (25%), institutional (25%),
while economic has the least weightage (5%).
The ministry, for the first time, conducted a survey to gauge ‘livability’ of each city.
Mumbai has done better in terms of public open spaces and mixed land use and
compactness, securing the top slot on both fronts.
But, it has come third in assured water supply.
Under the category of physical (infrastructure), the city has secured the first position.
The city’s governance has been a cause for concern, and he is not surprised it ranks 23rd on
that front.
But that it has come 63rd on the economy and employment front is hard to believe.
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Compendium-August, 2018
it is odd that Mumbai has come 23rd in healthcare while Pune, Vijaywada, Jabalpur and
Tirupati have performed better.
Jan Swasthya Abhiyan is one of the major problems is the primary health care services are
not strong due to which the main tertiary care hospitals are overloaded.
UGC directs universities and higher education institutions to ban sale of junk food on
their campuses
University Grants Commission (UGC) issued circular directing all
varsities and higher education institutions to ban sale of junk food on
their campuses.
This ban will help will set new standards for healthy food, making
students live better, learn better and reduce obesity levels. It will also
help to prevent lifestyle diseases which have direct link with excessive
weight.
The circular was issued after a directive from the HRD ministry, asking the UGC to ban the
sale of junk food on premises of higher education institutions.
Similar move was made earlier by Central Board of Secondary Education (CBSE) which had
directed all affiliated schools to take junk food off their canteen menu.
Moreover, schools were also asked to inspect lunch boxes of students, create awareness
about nutritious food and regularly monitor students’ health.
The directive was released following report by Ministry of Women and Child Development
(MCB) on consumption of foods high in fat, salt and sugar (HFSS) and promotion of healthy
snacks in schools
Mahadayi Water Disputes Tribunal: 13.42 TMC water to allocated to Karnataka, 24 TMC
to Goa
Mahadayi Water Disputes Tribunal delivered its final verdict to ending 50-year-old dispute
over sharing of Mahadayi or Mandovi River between Goa, Karnataka and Maharashtra.
The tribunal was constituted in November 2010 under Interstate River Water Disputes Act,
1956 to resolve water sharing dispute between riparian states.
Mahadayi River
Mahadayi River (also spelt Mahadeyi or Mhadei, and called Mandovi in Goa) rises in
Bhimgad Wildlife Sanctuary in Western Ghats, in Khanapur taluk of
Belagavi district in Karnataka. It flows in westerly direction, entering
Goa in Sattari taluk of North Goa district.
It is joined by number of streams along it course, growing in volume to
become Mandovi (one of Goa’s two major rivers), before emptying itself
into Arabian Sea at Panaji.
About two-thirds (76 km) of Mahadayi’s 111-km stretch lies in Goa and
remaining 35 km is in Karnataka and Maharashtra. Mahadayi river basin drains area of
2032 square km of which 375 sq km lies in Karnataka, 77 sq km in Maharashtra and
remaining in Goa.
Mahadayi River is lifeline of Goa because it is one of few sweet-water sources at state’s
disposal (most of Goa’s 11 rivers contain salt water). It also important for Goa’s water
security, ecology, and is important source of its staple diet of fish.
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Compendium-August, 2018
IIT Kharagpur to resolve problems of sewage disposal and access to clean potable water
IIT Kharagpur on its 68th foundation day has taken
up the challenge to resolve two burning issues of
urban India – sewage disposal and access to clean
potable water.
The institute is setting up the Aditya Choubey
Centre for Re-Water Research.
It was-funded by alumni Anant Choubey and
Aneesh Reddy to remediate, replenish and
rejuvenate water resources.
The Institute is setting up an on-campus plant which will convert 1.35 million litre of
sewage water from the hostels to 1.2 million litre of potable water daily.
The pilot plant at IIT Kharagpur is expected to be ready by March 2019.
The water processing and output will be monitored in real-time and conform to IS 10500-
2012 standard for drinking water.
M M Ghangrekar, faculty at the department of Civil Engineering who will be heading this
project.
Further, the researchers would be developing an operationally viable technology so that
the plant can be profitably commercialized.
Similar models of water sustainability have been adopted in foreign countries.
India would have to make a move towards reclaiming, recycling, reusing, re-watering, re-
mediating, replenishing, rejuvenating.
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Compendium-August, 2018
Railway Protection Force (RPF)
RPF is security force entrusted with protecting railway passengers, passenger area and
railway property of the Indian Railways.
It was introduced for the first time in the central act of 1957. It is headquartered in New
Delhi. It functions under the authority of Union Ministry of Railways.
It has powers to arrest, investigate and prosecute criminals under its jurisdiction.
Parliament passes Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018
Parliament has passed Insolvency and Bankruptcy Code (Amendment) Bill, 2018 to bring
relief to home buyers and Micro, Small and Medium Enterprises
(MSMEs).
The Bill replaces ordinance promulgated in this regard and amends
Insolvency and Bankruptcy Code, 2016.
Key Features of Bill
The Bill recognises home buyers as financial creditors in the real estate
project and giving them due representation in the Committee of
Creditors (CoC), thus providing significant relief to home buyers.
It will allow home buyers to invoke Section 7 of IBC, 2016 against errant developers.
This will allow financial creditors to file application seeking insolvency resolution process.
As financial creditors, home buyers will be able to participate in decision-making process
when developers are declared bankrupt under IBC, 2016.
The bill also proposes to reduce minimum voting threshold for Committee of Creditors
(CoC) to 66%, from 75% for key decisions.
Besides, the Bill also benefits Micro, Small and Medium Enterprises (MSME) sector from
IBC. It allows promoter of MSME to bid for their own enterprise undergoing the insolvency
resolution process as long as they are not wilful defaulters.
Union Goverment and 6 states sign MoU for Lakhwar Yamuna Basin project
Union Water Resources Minister Nitin Gadkari on Tuesday signed a Memorandum of
Understanding (MoU) with six states for the construction of the Lakhwar multi-purpose
project in the upper Yamuna Basin to deal with the water crisis.
The MoU was signed by the Chief Ministers of Uttar Pradesh (Yogi Adityanath), Rajasthan
(Vasundhara Raje Scindia), Uttarakhand (Trivendra Singh
Rawat), Himachal Pradesh (Jai Ram Thakur), Haryana
(Manohar Lal Khattar) and Delhi (Arvind Kejriwal).
Under the agreement, the 204-metres high project will be
constructed near Uttarakhand's Lohari village with a live
storage capacity of 330.66 million cubic metres (MCM).
The MoU has been signed to create storage facilities in the
upper Yamuna basin to deal with the water crisis between
January and June.
The agreement worth Rs.4,000 crore b/w 6 states; UP, Delhi, Uttarakhand, Rajasthan, HP &
Haryana is valuable.
Centre has been successful in bringing together 6 states for the project that was pending
since last 42 years.
Around 42,000-hectare land will receive irrigation.
Surplus electricity will be generated in Uttarakhand, which will be utilised by UP, Rajasthan
and Haryana.
The agreement is an effort to conserve and utilise the monsoon flows of the Yamuna.
90 % of the project will be funded by the Centre while the remaining amount will be paid
by the six states.
The cost of the total project is estimated to be around Rs 3,966.51 crore.
The water storage will provide irrigation for 33,780-hectare land and facilitate the
availability of 78.83 MCM water for domestic, drinking and industrial use in six basin states.
The project will also generate 300 mw of power and will be executed by Uttarakhand Jal
Vidyut Nigam Limited (UJVL).
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Compendium-August, 2018
Facial Verification will be an essential security feature to get a new SIM card
Facial Verification will be an essential security feature to get a new SIM card on or after 15
September 2018.
It has recently announced by the UIDAI.
The face-recognition will be an additional security feature for
obtaining a new SIM card in India.
This feature will be mandatory along with the already available
fingerprint and iris (eyes) verification.
The Unique Identification Authority of India (UIDAI) has proposed
a two-factor authentication for use of face recognition by telecom
companies.
Where an individual provides Aadhaar number, the authentication will be done using
fingerprint or iris and face.
For individuals providing Virtual ID, the authentication can be on basis of fingerprint or iris.
In case an individual is unable to authenticate fingerprint or iris, face authentication can be
used as an additional mode.
The move is aimed at curbing the possibility of fingerprint spoofing or cloning, and seeks to
tighten the audit process and security around issuance and activation of mobile SIMs.
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Compendium-August, 2018
It contains 75 % aviation turbine fuel and 25 percent biofuel used in this aircraft and has
been made out of Jatropha crop.
Around 20 people, including officials from
aviation regulator DGCA and SpiceJet, were in the
test flight.
The duration of the flight was around 25 minutes,
according to an airline executive.
Union Ministers Nitin Gadkari, Suresh Prabhu,
Dharmendra Pradhan, Dr Harsh Vardhan and
Jayant Sinha were at the Delhi airport when the flight landed.
It has the potential to reduce our dependence on traditional aviation fuel by up to 50 per
cent on every flight and bring down fares.
The 'Digital North East Vision 2022' Document, emphasizing on leveraging digital
technologies to transform the lives of people of the northeast and enhance the ease of living
released in Guwahati. The Vision Document has released by Union Minister for Electronics
and Information Technology Ravi Shankar Prasad in the presence of Chief Ministers and IT
Ministers of North East States.
Indian Space Research Organisation (ISRO) is planning to launch a TV channel to promote
scientific temper among people and conduct training camps for school students. ISRO will
organise capacity building programmes for students from class 8 to 10 to inculcate
scientific temper among them.
First project under the Swadesh Darshan Scheme the ‘North East Circuit: Imphal &
Khongjom’ in Manipur launched. 15 projects of Tourism Ministry for Rs.1301.47 Crores
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Compendium-August, 2018
covering all North Eastern states. The above project is the first project under the Swadesh
Darshan Scheme being inaugurated in the country.
Former President Pranab Mukherjee has launched the National Electoral Transformation or
NETA mobile application, a platform where voters can review and rate their elected
representatives and hold them accountable as well.
Centre’s ambitious Pradhan Mantri Ujjwala Yojana (PMUY) achieved the milestone target 5
crore beneficiaries. It has announced by the Union Minister for Oil and Natural Gas
Dharmendra Pradhan on 3 August 2018.
National Wildlife Genetic Resource Bank (NWGRB) was inaugurated at Centre for Cellular
and Molecular Biology’s (CCMB) Laboratory of Conservation of Endangered Species
(LaCONES) facility in Hyderabad, Telangana. It is India’s first genetic resource bank where
the genetic material will be stored for posterity.
The Government of India has released 470 million Nepali rupees grant for Terai roads
project in Nepal. Indian Ambassador to Nepal Manjeev Singh Puri handed over a cheque of
grant.
Government announces Drone Regulations 1.0 for safe commercial usage of Drones. As per
the Drone Regulations 1.0, the airspace has been partitioned into three zones- the Red Zone
in which flying is not permitted, Yellow Zone that is a controlled airspace; and the Green
Zone for automatic permission.
Delhi-Mumbai Expressway work to begin from December 2018: Transport Minister Nitin
Gadkari. The expressway is expected to begin from Gurugram on the Delhi outskirts and
run parallel to the existing highway up to Jaipur, from where it will turn eastwards to
Rajasthan's Alwar and Ratlam in western Madhya Pradesh and then move westwards to
Baroda.
JNU to rename its Management School after Late PM Atal Bihari Vajpayee. The decision
came following the move undertaken by Chhattisgarh CM Raman Singh to rename the
upcoming capital Naya Raipur as Atal Nagar. Moreover, Yogi Adityanath-led Uttar Pradesh
government also decided to name the proposed Bundelkhand Expressway as ‘Atal Path’.
Ministry of Health notifies new Health Warnings on Tobacco Products Packs. The words
‘Quit Today Call 1800-11-2356’ will be inscribed in white on a black background along with
the pictorial warning from September 2018. The quit line number 1800-11-2356 is an
online on-call assistance facility launched for those people seeking support to quit the use
of tobacco products.
India observes 76th anniversary of Quit India movement. The 76th anniversary of Quit
India movement was observed across India on August 8, 2018. On this day in 1942, father
of the nation Mahatma Gandhi gave the famous clarion call of ‘Do or Die’ to all Indians to
drive the British away from the country.
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Compendium-August, 2018
International
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Compendium-August, 2018
“Parker Solar Probe”: NASA launched highly ambitious robotic spacecraft mission to the
Sun
NASA has launched the highly ambitious robotic spacecraft mission to probe the outer
corona of the Sun. The name of this mission that will
be the closest-ever mission for Sun is "Parker Solar
Probe".
This is the first time the first time a NASA spacecraft
was named after a living person, honoring physicist
Eugene Parker, professor emeritus at the University
of Chicago.
It will be the first spacecraft to fly into the low solar
corona.
It will assess the structure and dynamics of the Sun's coronal plasma and magnetic field, the
energy flow that heats the solar corona and impels the solar wind, and the mechanisms that
accelerate energetic particles.
This mission has a timeline till December 2025.
On the way the mission will attempt flybys of Venus. Its first science observations will start
in December 2018.
Germany to provide Euro 120 million soft loan for Clean Ganga Mission
Germany has announced to provide soft loan of euro 120 million (Rs. 990 crore
approximately) to India to strengthen sewage water treatment
infrastructure in Uttarakhand in an effort to clean River Ganga under
Clean Ganga Mission.
German development agency GIZ also has prepared ‘Ganga Box’ aimed
to target schools-going children and inform them about the river.
The proceeds from this soft loan will be used for project focusing on
extension and replacement of sewerage system (around 360
kilometres) including complete house connection, construction of sewage treatment plants
(STPs) of around 15 million litres per day (mld).
The purpose of project is to reduce inflow of untreated waste water in River Ganga and,
thus, to improve the water quality of the river. This project also includes construction of 13
sewage pumping stations.
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Compendium-August, 2018
Mahathir made the comments while addressing the media in Beijing during his five-day trip
to China.
The projects, would be canceled until such time as Malaysia can afford it.
The ECRL project was the centerpiece of China’s infrastructure push in Malaysia but work
has been suspended pending discussions over pricing and graft accusations.
World’s first satellite capable of wind-sensing launched by the European Space Agency
(ESA)
The world’s first satellite capable of wind-sensing “Aeolus” launched by the European Space
Agency (ESA) during August 2018.
This satellite was launched through the Vega rocket from ESA’s French Guyana-based
launch station on 24 August 2018.
Aboard this satellite is a laser that will measure wind speeds across the globe.
Aeolus could vastly increase the data scientists have on wind speeds, improving weather
forecasting and providing new resources to climate researchers.
The ESA began the Aeolus project way back in 2002, but the laser instrument was more
challenging to design than anyone expected.
It was supposed to launch in 2007 originally.
The First South Asian Association for Regional Cooperation (SAARC) Agri Cooperative
Business Forum held in Kathmandu, Nepal. The theme was ‘Organizing and Strengthening
Family Farmers’ Cooperatives to attain the Sustainable- Development-Goals-1 and 2 in
South Asia’.
The G20 Digital Economy Ministerial Meeting was held in Salta, Argentina. It took place as
part of Sherpa Track for 2018 G20 Leaders’ Summit, which is to be hosted by Argentina by
end of 2018. The theme was 'Building consensus for fair and sustainable development'.
In Sri Lanka, the fourth Asian electoral stakeholders forum (AESF-IV) begins in Colombo to
discuss the state of elections and democracy in the region. It is being held for the first time
in South Asia with support from the Election Commission of Sri Lanka and the Asian
network for free elections (ANFREL). The theme was, ‘Advancing Election Transparency
and Integrity: Promoting and Defending Democracy Together’.
The World Bank launched ‘bond-i', the world’s first bond to be created, allocated,
transferred and managed by using distributed ledger technology. This two-year bond
successfully raised 110 million Australian dollars (USD 80.48 million).
France’s Parliament signed into law a controversial asylum and immigration bill. The bill is
designed to accelerate asylum procedures by cutting the maximum processing time from
the current 120 days to 90 days after entering France.
United States Congress passed the National Defense Authorisation Act-2019 (NDAA-19)
which capped its security-related aid to Pakistan to $150 million, significantly below the
historic level of more than $ 1 billion to $750 million per year.
External Affairs Minister Sushma Swaraj inaugurated 'Panini Language Laboratory' at
Mahatma Gandhi Institute (MGI) at Port Louis in Mauritius. She called on Prime Minister of
Mauritius Pravind Kumar Jagnauth and discussed further deepening of the special ties
between the two nations.
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In Sri Lanka, the ten-day festival of the historic Esala Maha Perehera began in Kandy with a
grand procession. The procession set off from the biggest Buddhist temple in Sri Lanka, Sri
Dalada Maligawa at an auspicious time.
Singapore Prime Minister Lee Hsien Loong chaired the 51st ASEAN Foreign Ministers
meeting in Singapore.
UK government announced new plans to change the law for organ and tissue donation to
address the urgent need for organs within the Indian-origin communities in the country.
Saudi Arabia announced that it is freezing all new trade and investment with Canada over
its interference in its internal affairs.
Israel opened a Visa Application Centre in Kolkata for tourists from West Bengal and the
northeastern states to encourage more Indian travelers to visit that country.
Union Minister of Agriculture and Farmers’ Welfare, Radha Mohan Singh urged to Jose
Graziano da Silva, the Director General of the United Nations Food and Agriculture
Organisation (UNFAO) to declare the upcoming year as the ‘International Year of Millets’.
The 24th World Congress of Philosophy (WCP) was held in Beijing, China. It was organized
by the International Federation of Philosophical Societies, and Peking University. Its theme
was “Learning To Be Human”.
US secretary of state, Mike Pompeo announced the formation of the Iran Action Group (IAG)
to coordinate and run the country's policy towards Iran. Pompeo has named Brian Hook,
the State Department's director of policy planning, as the group’s head.
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Economics & Financial Awareness
Bandhan Bank became the seventh most valued Indian bank by overtaking Yes Bank
Kolkata-based Bandhan Bank Ltd on 1 August 2018 became the seventh most valued listed
bank in India, by overtaking Yes Bank.
Data from BSE showed that Bandhan Bank has a
market capitalization of Rs. 84,325.35 crore, after its
shares moved 1% higher on BSE to record high of Rs.
706.95. Yes Bank’s market cap stood at Rs. 84,262.14
crore.
HDFC Bank Ltd remained the country’s most
valuable bank with a market capitalization of Rs 5.70
trillion, followed by State Bank of India and Kotak Mahindra Bank Ltd with market
capitalization of Rs 2.63 trillion and Rs 2.5 trillion, respectively.
Bandhan Bank’s better-than-expected earnings as well as improved asset quality have
helped its stock. It has a gross bad loan ratio of 1.26%, the lowest among Indian lenders.
A return on asset close to 3.5% and a net interest margin of above 10%, among the highest
for Indian lenders, too, have helped.
So despite trading at relatively high valuations of close to 5.9 times its expected book value
for this fiscal, the stock has found favour with investors.
Mumbai-based Yes Bank continued to deliver a healthy performance on all major
operational parameters for the June quarter.
On 26 July, it reported a profit which grew by 30.5% to Rs 1,260 crore while net interest
income rose 22.7% to Rs 2,220 crore.
Gross non-performing assets as a percentage of total loans stood at 1.31% in the quarter
from 0.97% a year ago.
Apple Inc. became the first U.S. company to surpass $1 trillion in market value
Apple Inc. company became the first U.S. company (and also probably of the world) to
surpass $1 trillion in market value.
American technology giant Apple Inc. became the first-ever U.S. company to surpass $1
trillion in market capitalization on 2 August 2018.
On this day, the shares of the world’s most valuable public company rose $5.89, or 2.9%, to
$207.39, making it worth slightly more than $1 trillion.
Apple’s rise has been propelled by the sustained success of the iPhone developed under late
co-founder Steve Jobs, a product visionary who helped revive the company from a death
spiral in the late 1990s.
Apple isn’t the world’s first company to claim the $1 trillion title. In 2007, PetroChina Co.’s
market cap surpassed that level by some measures, though the Chinese oil and gas
producer’s complicated corporate structure kept most of its shares locked up in
government hands.
Outside of the public markets, there is Saudi Arabian Oil Co. (Saudi Aramco), the state-
owned oil company.
It weighed an initial public offering that could value the business at as much as $2 trillion.
Reliance Industries become first Indian company to cross Rs. 8 trillion market cap
Mukesh Ambani-led oil-to-telecom behemoth Reliance Industries Ltd (RIL) became first
Indian company to cross Rs 8 lakh crore ($114 billion) market capitalisation.
This record m-cap of RIL also bumped up Mukesh Ambani’s (India’s richest man) wealth to
over $48 billion (according to Bloomberg Billionaires Index). M-cap is value of company
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Compendium-August, 2018
that is traded on stock market, calculated by multiplying total number of shares by present
share price.
RIL achieved Rs 8 lakh crore m-cap feat, after its shares rose by 1.86%
to close at a record high of Rs 1,269.70 on Bombay Stock Exchange
(BSE) in intra-day trade, elevating its market cap to Rs 8.05 lakh crore.
So far this year, RIL shares surged over 38 per cent.
RIL added the latest Rs 1 trillion in market cap in just 23 trading
sessions. It had first crossed Rs 7-trillion market cap in July 2018 (for
second time after it had achieved $100 billion m-cap and for first time in 2007).
It took 181 trading days to move from Rs 6 trillion to Rs 7 trillion m-cap. Currently, RIL’s
market value accounts for 5% of India’s total market cap.
The market valuation of RIL is considerably higher than IT giant Tata Consultancy Services
(TCS’) Rs 7,77,870 crore m-cap. TCS was first Indian IT company to reach Rs. 7 lakh crore
($100 billion club) market capitalisation (m-cap) milestone in May 2018 and second
company after to achieve milestone after RIL.
Pie: The latest version of Android operating system officially released by Alphabet Inc
The latest version of Android operating system that was officially released by Google’s
parent company Alphabet Inc. is named as Pie.
Google officially released the new version of its
highly popular Android mobile operating
system on 6 August 2018.
This new version has been named Android Pie
(or simply Android 9).
Google typically names its new flavors of
Android alphabetically and after something
sugary.
For example, the previous Android version was called Oreo. Before that were Nougat,
preceded by Marshmallow and Lollipop.
Android Pie mostly focuses on behind-the-scenes improvements designed to make Android
phones work faster while saving precious battery life.
Google’s Android is the most dominant mobile operating system on the Earth.
It powers almost 9 out of every 10 smartphones shipped globally. So updates in the
software could eventually signal changes for how most of the world uses its phones.
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Compendium-August, 2018
Hackers siphon Rs 94 crore from Pune’s Cosmos Cooperative Bank via ATMs in 28
countries
Recently hackers have stolen (illegally withdrawn) Rs .94 crore from Pune’s Cosmos
Cooperative Bank via ATMs in 28 countries.
It is possibly first of its kind coordinated digital attack on Indian bank. In this cyber heist
considered to be originated in Canada, Rs. 78 crore were illegally withdrawn in more than
12,000 ATM transactions in 28 countries. Rs 2.5 crore were made in different places within
India with another 2,800 transactions.
Moreover, Rs 13.5 crore was transferred to Hong Kong-based entity using the Society for
Worldwide Interbank Telecommunications (SWIFT) facility.
Modus Operandi of Hackers
The illegal withdrawals were enabled by malware attack which authenticated debit card
transactions bypassing the bank’s computerised core banking systecore
banking system (CBS), which allows banks to settle cash dispensation
requests raised at ATMs.
CBS of the bank houses all the data of its customers. Once request is
raised by swiping of card at ATM, it is transferred to CBS of bank using
switching system. After checking available credit in individual account,
CBS either allows or turns down request, which is again transmitted to
payment systems via switching system.
The malware had created proxy switching system, which had bypassed need for validation
by CBS of bank. The operation of switching systems involves variety of agencies, including
banks, which participate in complex yet lightning fast process of dispensing money from
teller machine.
This might have been preceded by another cyber-attack, resulting in data theft of hundreds
of bank’s debit cards. The information on these debit cards were then have been cloned on
to fake cards used in physical withdrawal of cash from ATMs across the world. The illegally
withdrawn money has gone out from bank’s corpus and not from individual accounts of the
bank’s customers.
Rahul Bajaj dethroned the Aditya Birla Group to emerge third most valued group in
India based on market capitalization
The industrial group, Rahul Bajaj Group dethroned the Aditya Birla Group from the fourth
position to emerge third most valued group in India (based on market capitalization).
Rahul Bajaj GroupThanks to an amazing stock market ride by Bajaj Finance and Bajaj
Finserv, the Pune-based Rahul Bajaj group grabbed third spot, pushing the Aditya Birla
group down to fourth position.
On 14 August 2018, the market cap of the Bajaj group’s listed companies reached Rs 3.9
trillion compared to the Rs 3.02 trillion of the Aditya Birla group.
The group is, of course, far still behind the top two family group listed companies: the Tatas
(market cap of Rs 11.4 trillion) and the Mukesh Ambani group (market cap Rs 7.8 trillion).
The last few years have been unbelievably impressive for Bajaj Group.
It was only the eighth largest family business group in the country in terms of market cap,
far behind the Tatas, Mukesh Ambani, Mahindra, Vedanta, Sunil Mittal, Aditya Birla, and Sun
Pharma.
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According to the NSE-SIDBI joint venture, TReDS is an online electronic institutional
mechanism for facilitating the financing of trade receivables of micro, small and medium
enterprises (MSME) through multiple financiers.
Hindustan Aeronautics Ltd (HAL) executed its first digitized invoice discounting
transaction on RXIL TReDS platform, when it accepted the digital invoice uploaded by
Narendra Udyog.
This makes HAL the first PSU to transact on TReDS across platforms.
The transaction was financed by Bank of Baroda and since stands settled,.
Last year, the central government mandated all major PSUs to join TReDS platform to
facilitate payments to MSME vendors.
RXIL is a TReDS platform operating since January 2017 and is promoted by the National
Stock Exchange, Small Industries Development Bank of India, State Bank of India, ICICI
Bank and Yes Bank.
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Maruti Suzuki launched a first-of-its-kind motorcycle-based roadside service
India’s biggest car maker Maruti Suzuki rolled out a motorcycle-based roadside service
initiative for car owners, a first by any carmaker.
Designed to reach the car owner in a shorter time, the initiative complements the existing
roadside assistance that runs on 415 vans.
The Suzuki owned company flagged off a fleet of 350 Suzuki bikes that will service
customers in 251 cities.
The number of cities will be expanded to 500 by 2020.
Maruti Suzuki claimed that the service is equipped to cater to 90% of the problems faced by
a customer on roads.
The company is of the view that in many cases the heavy traffic in cities does not allow vans
to reach customers on time and causes stress and anxiety.
‘Amaravati Bond 2018’: A local authority of Andhra Pradesh launched the bonds of BSE
A local authority of Andhra Pradesh state had launched the bonds titled ‘Amaravati Bond
2018’, which were listed on the Bombay Stock Exchange (BSE) on 27 August 2018.
The main aim is to raise funds to build Andhra Pradesh’s
capital Amaravati.
The state government has tapped the capital markets with
the listing of bonds issued by AP Capital Region Development
Authority (APCRDA) for Rs. 2,000 crore on 27 August 2018
on the BSE.
These bonds are being touted as the largest bonds issue in
the country from a local authority.
Earlier bonds worth Rs. 2,000 crore were floated by the
APCRDA.
The bonds were lapped up in a one-hour offer window on the BSE’s electronic platform on
14 August 2018.
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Google has tied up with HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Federal Bank
Alphabet Inc.’s Google is partnering with four
Indian banks - HDFC Bank, ICICI Bank, Kotak
Mahindra Bank and Federal Bank, to grant instant
loans online.
This tie-up has been done as the fight for a $1
trillion digital finance market intensifies.
From Facebook Inc.’s WhatsApp to Jack Ma’s Ant
Financial, internet giants are joining a race to
provide financial services in the world’s fastest-
growing mobile arena.
Online lending is becoming the next frontier as mobile users look for small loans with
minimal paperwork, served to them even without credit ratings as fintech companies use
data and algorithms to determine risk.
The Reserve Bank of India (RBI) has decided to pay a dividend of Rs 50,000 crore to the
Union government for the year ending 30 June, 2018. The Central Board of Directors of the
Reserve Bank of India, at its meeting held on 8 August, 2018, approved the transfer of
surplus amounting to Rs 500 billion for the year ended 30 June, 2018 to the Government of
India.
Axis Bank has become the first bank in the country to introduce Iris Scan Authentication
feature for Aadhaar-based transactions through its micro ATM tablets. This service, which
requires a customer to scan their iris on a tablet, will boost the bank's financial inclusion
efforts by making Aadhaar authentication process hassle-free and offering easier access to
digital banking for consumers especially in the rural parts of the country.
The government has announced a mega investment and connectivity programme for the
north-eastern states. It will inflow of nearly Rs 10,000 crore through over 400 programmes
expected to be rolled out in the next four years. The investments relate to enhancing the
telecom infrastructure in the state.
Idea Cellular Ltd has announced that it has completed its merger with Vodafone India Ltd
(VIL) and Vodafone Mobile Services Ltd (VMSL) after getting approval from the National
Company Law Tribunal (NCLT).
Reliance Power announced that its wholly-owned subsidiary Reliance Power Netherlands
BV has won an international arbitration award of $56 million (Rs 390 crore) against
Prestige Capital Holdings (a Seychelles-based company) and Kokos Jiang.
PayU India announced entering into a strategic partnership with Reliance Money, leading
NBFC brands in India, to offer instant app-based personal loans, via LazyPay. It is an
attempt to reach out to the underserved consumers in India.
Google launched a new video-based Q&A app called 'Cameos' on the App Store, which
allows people to answer questions about themselves, then share those answers directly on
Google.
Bharat Sanchar Nigam Ltd (BSNL) launched BSNL WINGS a VOIP based service. In WINGS,
there is no SIM or cable wiring as is a VOIP service through an app. The WINGS service
offers unlimited free audio/video calling for one year.
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Defence & Security - National/International
SCO Peace Mission 2018: SCO counter-terror military exercise held in Chebarkul, Russia
The Shanghai Cooperation Organization (SCO) Peace Mission 2018 was held in Chebarkul,
Russia. Military contingents of the all eight SCO member nations (China, Russia, Kyrgyzstan,
Tajikistan, Kazakhstan, India and Pakistan) participated in this exercise.
The exercise was aimed at enhancing cooperation between member states to deal with
growing threat of terrorism and extremism.
It was for first time since independence, India and Pakistan
simultaneously took part military exercise, though armies of two rival
neighbouring countries had earlier worked together in United Nations
(UN) peacekeeping missions.
SCO Peace Mission 2018
The exercise provided opportunity to armed forces of SCO nations to
train in counter terrorism operations in urban scenario in multinational
and joint environment The scope of exercise included professional interaction, mutual
understanding of drills and procedures, establishment of joint command and control
structures and elimination of terrorist threat in urban counter terrorist scenario.
It also helped to strengthen mutual confidence, interoperability and enable sharing of best
practices among armed forces of the SCO nations.
Around 3,000 soldiers from eight SCO member countries took part in the exercise. Russian
Army was had major participation with 1700 personnel followed by China with 700, India
with 200 personnel (167 Indian Army personnel including four women officers and 33
personnel from Indian Air Force). Pakistan contingent comprised of 110 members
Note: The SCO Peace Mission Exercise takes place every two years. The previous editions of
this exercise were mainly limited to Central Asian nations. But due to the entry of India and
Pakistan (in June 2017), SCO’s counter-terrorism mission now has been expanded to South
Asia.
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The opening ceremony started with familiarization of organisation and display of weapons
& equipment of both armies.
The exercise will emphasize to hone the tactical and
technical skills in joint counter insurgency and counter
terrorist operations in rural and urban scenario under UN
mandate.
Due emphasis will be laid on increasing interoperability
between forces from both countries which is crucial for
success of any joint operation.
Both sides will jointly train, plan and execute a series of well developed tactical drills for
neutralization of likely threats that may be encountered in urban warfare scenario.
Experts from both sides will also hold detailed discussions to share their experience on
varied topics for mutual benefit.
Exercise Maitree will contribute immensely in developing mutual understanding and
bonhomie between the two armies in order to counter terrorism.
Iran Unveils Next Generation Fateh Mobin missile, Rising Tensions with US
Iran has unveiled a next generation short-range
ballistic missile.
It vowed to further boost its capabilities, at a time
of rising tensions with the United States.
The new Fateh Mobin missile had "successfully
passed its tests" and could strike targets on land
and sea.
The new missile's range was not given, but
previous versions had a range of around 200 to
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Compendium-August, 2018
300 kilometres.
The "Fateh-110 missile" was test-fired by Iran during naval exercises in the Strait of
Hormoz last week.
A US general described the exercises as designed to send a message, following threats from
Iran that it could shut down the vital, oil-shipping waterway in retaliation for renewed
sanctions.
Earlier, this year President Donald Trump pulled out of the 2015 nuclear deal with Iran and
world powers in May.
Iran's missile programme is a major bone of contention, particularly with the United States
and its allies, but is seen as vital by Iran to its defensive posture in a troubled region.
India building new fighter jet Advanced Medium Combat Aircraft (AMCA)
India’s First flight of Advanced Medium Combat Aircraft (AMCA) expected in 2032.
The Advanced Medium Combat Aircraft (AMCA) is India’s next indigenous fighter.
Development work on the jet is under way.
The AMCA will feature geometric stealth and will initially fly with two GE-414 engines.
There are two major ways of making a
military platform stealthier.
One is geometric stealth and other is
material stealth.
In geometric stealth, the shape of the
aircraft is designed at such angles so as to
deflect away maximum radar waves thereby
minimising its radar cross section.
In material stealth, radar-absorbing materials are used in making the aircraft which will
absorb the radio waves thus reducing the radar footprint.
The Indian Air Force has given land to the Defence Research and Development Organisation
to set up facilities for the project.
The plan is to build on the capabilities and expertise developed during the development of
the light combat aircraft (LCA) and produce a medium fifth generation fighter aircraft.
The aircraft will be powered by the same GE-414 engine on the LCA Mk-2 variant which is
in the design phase.
A GE-414 produces 98kN thrust compared to 84kN thrust of the GE-404 engine which is on
the LCA Mk1.
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At Aero India 2016, DRDO officials had stated that the basic design configuration has been
frozen after wind tunnel testing and there are three critical technologies that need to be
developed -- stealth, thrust vectoring and super cruise.
This is India’s only fifth generation aircraft programme following the decision not to go
ahead with the fifth generation project with Russia.
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India’s Participation: In this edition of exercise, Indian Air Force (IAF) for the first time
participated with air assets and in earlier exercises it had participated as observer.
IAF contingent consisted of 145 air-warriors including IAF Commandos team, Garuds, four
Su-30 MKI, one C-130 and one C-17 for logistic support for induction and de-induction.
Pitch Black – 18
The objectives of this exercise were to foster closer relationship
between participating friendly forces and promote interoperability
through exchange of knowledge and experience. Its aim was to expose
participating nations to operational environment in international
scenarios.
It comprised of two phases. During first phase, forces flew basic
missions with aim to get to same working platform. Subsequently in second phase, missions
involved larger packages and undertook simulated air combat exercises in near realistic
environment and exchanged best practices towards for enhancing operational capability.
During the exercise, IAF for the first time conducted various day and night operations. It
also provided it unique opportunity for exchange of knowledge and experience with
participating nations in dynamic warfare environment.
INS Sahyadri entered the Port of Darwin, Australia to participate in Exercise KAKADU 2018.
Exercise KAKADU, which started in 1993, is the premier multilateral regional maritime
engagement exercise hosted by the Royal Australian Navy (RAN) and supported by the
Royal Australian Air Force (RAAF). It is held biennially in Darwin and the Northern
Australian Exercise Areas (NAXA).
For the first time, India's only aircraft carrier INS Vikramaditya will be fitted with a marine
hydraulic system to boost the air operations of the ship. Technodinamika, a subsidiary of
Russia's Rostec State Corporation, will install the system in the Indian Navy ship by May
2019.
The NDRF has the biggest ever relief and rescue operation in flood-affected Kerala. A total
of 58 teams have been deputed to work in the state out of which 55 are working on the
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Compendium-August, 2018
ground. This is the highest ever deployment of NDRF in a single state since its raising in
2006. After the review, PM Modi announced a financial assistance of Rs 500 crore to the
State. This is in addition to Rs. 100 Cr. announced by the Home Minister.
The first-ever joint air exercise involving the Indian Air Force (IAF) and the Royal
Malaysian Air Force (RMAF) commenced at Subang Air Base in Malaysia.
DRDO conducted the successful test of the Ballistic Missile Interceptor Advanced Area
Defence (AAD) from Abdul Kalam Island, Odisha. The endo-atmospheric missile, capable of
intercepting incoming targets at an altitude of 15 to 25 kms was launched against multiple
simulated targets of 1500 km class ballistic missile.
Pacific Endeavor-2018, a communication exercise under the Multinational Communications
Interoperability Program (MCIP) started in Kathmandu, Nepal. The basic objective is to
develop common communications operating procedures to enable military forces in the
Asia Pacific region to collectively work in the wake of disaster.
Defence Minister Nirmala Sitharaman and Uttar Pradesh Chief Minister Yogi Adityanath
launched a defence industrial corridor in Aligarh, Uttar Pradesh. The move is part of the
government’s efforts to develop specialised zones dedicated to defence production in the
state.
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Compendium-August, 2018
Appointments-National/International
Former Chilean President Michelle Bachelet appointed new UN Human Rights Chief
Michelle Bachelet of Chile, newly-appointed as the next UN High Commissioner for Human
Rights.
She was appointed byUN Secretary-General
António Guterres.
The United Nations General Assembly in New
York approved the nomination of former two-
time President of Chile, Michelle Bachelet, as the
next UN High Commissioner for Human Rights,
effective from 1 September.
As a physician, she knows the trials of people thirsting for health and yearning to enjoy
other vital economic and social rights. And she knows the responsibilities of both national
and global leadership.
Her predecessor in this position, Zeid Ra’ad Al Hussein, who took on the role in September
2014 and who Mr. Guterres described as having served with “leadership, passion, courage
and skill” for the past four years.
Michelle Bachelet will be the seventh High Commissioner since the office was created in
1993.
Bachelet most recently had served as President (first women) of Chile (from 2014 to 2018
and 2006 to 2010).
She was first Executive Director of UN-Women between 2010 and 2013. She has also
served as Minister of Defence and Minister of Health in Chile.
The High Commissioner, is the principle official who speaks out for human rights across the
whole UN system, strengthening human rights mechanisms; enhancing equality; fighting
discrimination in all its forms; strengthening accountability and the rule of law; widening
the democratic space and protecting the most vulnerable from all forms of human rights
abuse.
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Compendium-August, 2018
Mr. Khan became a Member of Parliament in the 2002 elections.
He was again elected to the National Assembly in the 2013 elections, when his party
emerged as the second largest in the country by popular vote.
Mr. Khan was born in Mianwali in 1952 to Ikramullah Khan Niazi and Shaukat Khanum.
His father descended from the Pashtun (Pathan) Niazi tribe of the Shermankhel clan, his
family is settled in Lahore, however, he still considers his background Pathan as per his
autobiography.
Mr. Khan played Test cricket for Pakistan between 1971 and 1992, and was captain of the
national team when they won the World Cup in 1992.
Harivansh Narayan Singh elected as the new Deputy Chairman of the Rajya Sabha
Harivansh Narayan Singh was elected as the new Deputy Chairman of the Rajya Sabha in a
close election.
Harivansh, belonging to the Janata Dal (United), was elected on 9 August 2018.
He was the National Democratic Alliance (NDA) candidate for the post.
While he secured 125 votes in his favour, 105 members voted against him.
He was inspired by Jaiprakash Narayan and dropped his surname.
He is preceded by P.J.Kurien, who completed his term as Deputy Chairman on 1 July 2018.
The post has been lying vacant since then.
Congress MP B.K. Hariprasad stood against Harivansh in this election.
At the last minute, the Nationalist Congress Party (NCP) withdrew their candidate Vandana
Chavan after it learned of BJD’s support to the NDA.
Vice-President M.Venkiah Naidu is the Chairperson of the Rajya Sabha.
Indra Nooyi will step down as CEO, PepsiCo, replced by Ramon Laguarta
Indra Krishnamurthy Nooyi will step down as the CEO of PepsiCo after 12 years in the
position.
She has been taking over the reins of the global giant in 2006.
Ms. Nooyi steered the company though the 2008 financial crisis
and herself remained in the spotlight as one of the most
powerful women on the planet.
The 62 year old Ms. Nooyi born in Chennai where she studied at
the Madras Christian College.
Ms. Nooyi tried to reposition the company’s image at a time
consumers are increasingly wary of junk food. Under her, PepsiCo began focussing on
products that include fruits, vegetables, whole grains, nuts, and gave an emphasis on less
sugar and fat. She has said this transformation would be a long-drawn one.
The 54-year-old Ramon Laguarta will succeed Ms. Nooyi as CEO.
Ms. Nooyi will step down as CEO on October 3, but will remain Chairman until early 2019 to
ensure a smooth and seamless transition.
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Compendium-August, 2018
Justice K.M. Joseph is scheduled to take oath as Supreme Court judge, third in line to
Justices Indira Banerjee and Vineet Saran. A few Supreme Court judges met Chief Justice of
India Dipak Misra about the issue of the government superceding the Collegium to alter the
seniority of Justice K.M. Joseph, who is scheduled to take oath as Supreme Court judge, third
in line to Justices Indira Banerjee and Vineet Saran.
Smt. Justice Manjula Chellur took Oath as Chairperson, Appellate Tribunal for Electricity,
Ministry of Power. Prior to this, Smt. Justice Manjula Chellur was Chief Justice of Bombay
High Court.
Seema Nanda, the Indian origin woman leader who took over as the CEO of Democratic
Party of the United States and thus became the first Indian - American ever to be the Chief
Executive Officer (CEO) of any major US party
Bhaskar Ramamurthy to be headed the JEE (Advanced) reform committee. The government
has recently proposed to set up a committee which will suggest changes to the Joint
Entrance Examination (JEE) Advanced. This decision was taken after inadequate number of
students qualifying the engineering entrance exam.
Balesh Sharma takes over as Vodafone Idea's first CEO. He was the Chief Operating Officer
of Vodafone India and a member of its executive committee.
Veteran Indian development economist Satya S Tripathi has been appointed as the
Assistant Secretary-General and Head of the New York Office of the United Nations
Environment Programme (UNEP) by UN Chief Antonio Guterres. He will replace Elliott
Harris.
The Centre appointed renowned scientist, Dr G Satheesh Reddy, as Chairman of the Defence
Research and Development Organisation (DRDO) and Secretary in Department of Defence
Research & Development (DDR&D).
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Compendium-August, 2018
Industry chamber ASSOCHAM appointed former bureaucrat Uday Kumar Varma as its new
Secretary General. He succeeds DS Rawat who held the position for nearly 14 years.
Union Minister Arun Jaitley is back as the Finance Minister after a three-month interval to
recuperate from a kidney transplant surgery.
Film actor Shri Akshay Kumar appointed as the Road Safety Brand Ambassador.
IAS officer K S Srinivas has taken over as Chairman of Marine Products Export Development
Authority (MPEDA).
Malian President Ibrahim Boubacar Keita has been re-elected for a five-year term after
winning a landslide in a runoff ballot.
Colorado Party’s Mario Abdo Benitez was sworn in as the new President of Paraguay for a
five-year term.
Infosys Chief Financial Officer MD Ranganath, a veteran of nearly two decades at India’s
second-largest software services company, has abruptly stepped down from his position.
Zimbabwe President Emmerson Mnangagwa narrowly won the country’s landmark
election in Zimbabwe. He is a former ally of Robert Mugabe.
Justice Rajendra Menon was sworn in as the new Chief Justice of the Delhi High Court by Lt
Governor Anil Baijal at a ceremony held at the Raj Niwas in New Delhi.
Ivan Duque was sworn in as the newly elected President of Colombia. He pledged to unite
the country and improve economic growth.
Kumar Mangalam Birla and Y.C. Deveshwar were appointed as non-official independent
directors in Air India on 1 August 2018.
The nominating committee of Internet Corporation for Assigned Names and Numbers
(ICANN) has selected Ajay Data as a new council member of Country Code Supporting
Organisation (ccNSO). He is the Founder & CEO of Data XGen Plus and a global leader in
email linguistic services.
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Compendium-August, 2018
Sports
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Compendium-August, 2018
Top 3 Countries in the MEDAL TALLY along with India are as follows
2 Japan 75 56 74 205
8 India 15 24 30 69
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Compendium-August, 2018
Marin became the first woman shuttler to win the world championships thrice. She had
won the title in 2014 and the 2015 Jakarta edition.
3. Men's Li Junhui (China) and Liu Yuchen Takeshi Kamura (Japan) and
Doubles (China) Keigo Sonoda (Japan)
5. Mixed Zheng Siwei (China) and Huang Wang Yilü (China) and Huang
Doubles Yaqiong (China) Dongping (China)
Mohammad Nabi became the first-ever cricketer in history to feature in each of his
team's first 100 ODIs
Mohammad Nabi of Afghanistan became the first-ever cricketer in history to feature in each
of his team's first 100 ODIs.
Afghanistan all-rounder Mohammad Nabi achieved the feat in the second ODI against
Ireland on 29 August 2018.
Nabi had made his debut in Afghanistan's first-ever ODI on 19 April 2009 and has since
featured in country’s every ODI.
No other player has featured even in each of his country's first 50 ODI matches.
This year (2018), Afghanistan become the 11th Test playing team status and played lone
test against India at Bangalore.
Esow Alben: Teen cyclist creates history by winning India’s first ever medal at world
level
Indian Teen cyclist Esow Alben (17) created history by winning the country’s maiden
medal in track cycling at the world level.
He achieved this feat by winning silver medal in Men’s Keirin event of UCI Junior Track
Cycling World Championships held in Aigle, Switzerland. In the final
sprint of this event, Esow finished just 0.017 seconds behind gold
medallist Jakub Stastny (Czech Republic).
Esow hails from Andaman and Nicobar. He is currently ranked world
No. 1 in junior sprint category of cycling after sensational run in Asian
Championships and victories in 2018 Cottbuser Sprint Cup 2, GP Brno
Track Cycling competitions.
Tokyo 2020 will be first Olympics to use facial recognition technology to increase security
around all venues. For this, games organisers have partnered with Japanese
telecommunications and information technology giant NEC to develop the first system of
this kind to be implemented at an Olympics games.
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Compendium-August, 2018
The 2019 Asian Youth and Junior Weightlifting Championships will be held in the North
Korean capital Pyongyang, a signal that the secretive country may be coming in from the
sporting cold.
The U-20 Japan Women's National Team won against the U-20 Spain Women's National
Team at the final of the FIFA U-20 Women's World Cup France 2018, taking down the FIFA
U-20 Women's World Cup title for the first time in Japanese football history. Takarada Saori
was named as the Player of the match.
Indian javelin thrower Neeraj Chopra won a gold medal in the Savo Games in Lapinlahti,
Finland. Neeraj Chopra made a throw of 85.69 metres and won the gold medal.
Lewis Hamilton of Mercedes won the Hungarian Grand Prix for the 6th time, at the
Hungaroring circuit, in Hungary.
World Junior Squash Championships 2018 held in Chennai, India. A total of 171 players
including 116 men and 55 women from 28 countries took part in the World Junior Squash
Championship. Egypt defeated England & emerged as the 2018 World Junior Squash
Champions. India finished in 11th position.
Indian Golfer Gaganjeet Bhullar grabbed his maiden European Tour title at the Fiji
International in Natadola Bay. It was Bhullar’s first win on the European Tour, ninth Asian
Tour title and 10th crown overall.
Indian women chess team at the Asian Nations Cup 2018 clinched the gold in the Blitz event
held in Iran. While India (1st) finished with 21.5 points, Vietnam (2nd) settled for silver
with 18.5 and China (3rd) bagged bronze with 17.5.
Veteran German striker Mario Gomez announced his retirement from international football.
The 33-year-old, who made his debut for Germany in 2007, scored 31 goals in 78
international appearances.
India’s under-20 team won over Argentina under-20 in the final group stage match of the
COTIF Cup held in Valencia’s Els Arcs Stadium. India was playing in the tournament for the
first time.
17-time Grand Slam champion Rafael Nadal clinched his fourth Canadian Masters 1000 title
at the Rogers Cup in Toronto. He defeated Greek teenager Stefanos Tsitsipas.
Indian golfer Viraj Madappa became the youngest Indian to win on the Asian Tour, as he
won his first title on the Asian Tour at Take Solutions Masters in Bengaluru.
International Master Nihal Sarin became the 53rd Grandmaster of India despite losing his
final round game to Richard Rapport of Hungary in the ninth and final round of Abu Dhabi
Masters.
India’s Under-15 side emerged winners of the Women’s SAFF U-15 Championship after
defeating defending champions Bangladesh by a solitary goal in the final. The final match
played at the Changlimithang Stadium in Thimphu, Bhutan.
Indian women’s team fast bowler Jhulan Goswami announced her retirement from T20
Cricket Internationals.
Australian cricketer Mitchell Johnson announced the retirement from all forms of cricket
almost three years after he stepped down from the international game.
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Compendium-August, 2018
Honours / Awards
Third Party Survey Report on Station Cleanliness: Jodhpur, Marwar ranked cleanliest
rail stations
Union Railway Ministry released Third Party Survey Report on Station Cleanliness which
ranked 407 railway stations including 75 A1 category stations, 332 A category stations on
basis of cleanliness performance.
Jodhpur ,Rajasthan was ranked first in survey A1 category stations, Marwar (Rajasthan)
first in A category stations and North Western Railway first among all Zonal Railways.
This was third such audit cum cleanliness survey conducted by Indian Railways to increase
level of cleanliness under Swachh Bharat Abhiyan by identify unclean spots, improve
cleanliness standards and propel healthy competition among railway stations.
It was conducted by Quality Council of India (QCI) with help of their partners. .
Top 10 A1 category Stations (out of 75):
Jodhpur (1st), Jaipur (2nd), Tirupati (3rd), Vijayawada (4th), Anand Vihar Terminal (5th),
Secunderabad Junction (6th), Bandra (7th), Hyderabad (8th), Bhubaneshwar (9th) and
Vishakhapatnam (10th).
Top 10 A category stations (out of 332):
Marwar (1st), Phulera (2nd), Warangal (3rd), Udaipur (4th), Jaialmer (5th), Nizamabad
(6th), Barmer (7th), Machiryal (8th), Mysore (9th) and Bhilwara (10th)..
Top 10 Zonal Railways Rankings:
North Western Railway (1st), South Central Railway (2nd), East Coast Railway (3rd), South
East Central Railway (4th),Western Railway (5th), Southern Western Railway (6th),
Southern Railway (7th), Central Railway (8th), West Central Railway (9th) and Northeast
Frontiers Railway (10th).
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Compendium-August, 2018
The award was presented to General Suhag on August 17, 2018, at Pentagon, Washington
DC, in the presence of his family members and the Indian Military
Attache to the United States of America.
The Legion of Merit to General Dalbir Singh was announced by the US
Government in March 2016 when he was in chair as the Chief of Army
Staff, with the intention of conferring the award to him during his
official visit to the United States in April 2016.
However, procedural delays in obtaining necessary government
sanction for the award presentation resulted in this not being presented
during the official visit. General Dalbir Singh subsequently retired on
December 31, 2016.
The citation of the award stated that in the period August 2014 to April 2016 as Chief of
Army Staff, Indian Army, Gen Dalbir Singh rendered exceptionally meritorious service.
The Legion of Merit is awarded in four degrees; Degree of Chief Commander; Degree of
Commander; Degree of Officer; and Degree of Legionnaire.
It is noteworthy that the award of Legion of Merit (Degree of Commander) to Gen Dalbir
Singh (Retired) is only the second time that an Indian military officer is being awarded this
specific degree, the first being General Rajendra singhji Jadeja in 1946.
Rifleman Aurangzeb and Major Aditya Kumar of Indian Army will be conferred the Shaurya
Chakra along with 18 others Armed Forces Personnel and members of Paramilitary Forces.
Besides, Sepoy Vrahma Pal Singh will be awarded with Kirti Chakra posthumously.
Three US scientists James Allison, Carl June and Steven Rosenberg were declared winners
2018 Albany Medical Center Prize in Medicine and Biomedical Research. They were
awarded in recognition of their research in immunology and translation of their ideas into
effective therapies that have led to innovative treatments for cancer, HIV and other
diseases.
Delhi government’s additional director of health, SK Arora was awarded prestigious World
Health Organization (WHO) World No Tobacco Day 2017 Award for his extraordinary
contribution towards tobacco control.
PepsiCo's India-born CEO Indra Nooyi will be honoured with the Game Changer of the Year
award by a global cultural organisation Asia Society in recognition of her business
achievements, humanitarian record and advocacy for women and girls around the world.
Former England captain David Beckham will receive the UEFA President's Award for his
contribution to football and promoting the sport in "every corner of the planet".
The Maharashtra government has appointed Bollywood actor Raveena Tandon as the
brand ambassador of the city-based Sanjay Gandhi National Park (SGNP). SGNP is a vast
treasure of flora and fauna in Mumbai city and it also provides water to a major part of the
city.
Indian film 'Newton' bagged the best film award at the 3rd edition of the 2018 BRICS Film
Festival.
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Compendium-August, 2018
Obituaries
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Compendium-August, 2018
He was a prolific writer and scriptwriter for Tamil films before his entry into politics. He
continued writing film scripts even taking plunge into politics.
He was a pillar of the Dravid movement started by Periyar. He was one among the so-called
Dravid Trinity, the other two being Periyar and Annadurai.
Despite belonging to a regional party, Karunanidhi’s political identity was acknowledged
across the country.
He was perhaps the only leader who was able to part of every type of coalition government
at the Centre – be it Congress-led UPA, the BJP-led NDA or the various opposition fronts.
However, an unprecedented political drama took place after his death at the AIADM
government rejected DMK’s demand of burial of the late leader on the banks of Marina
Beach in Chennai.
DMK approached the Madras High Court, which on 8 August 2018 gave its ruling in favour
of DMK. Later on that day Karunanidhi was cremated with full state honours at the Marina
Beach.
Legendary Indian cricketer and former captain Ajit Wadekar passed away
Legendary Indian cricketer and former captain Ajit Wadekar passed away on 15 August
2018 at the age of 77.
Wadekar made his debut in 1966 against the West Indies and went on to represent India in
37 Tests and two one-day internationals.
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Compendium-August, 2018
He was one of the few cricketers to represent the country as a Test player, captain, coach
and also went on to become the chairman of selectors.
Wadekar was honoured with the Padma Shri in
1972.
As an aggressive left-hand batsman, Wadekar
went on to score 2,113 runs at an average of
31.07 in Tests. He making his first-class debut in
the 1958-59 season.
His only Test century. a match-winning 143, came
against New Zealand in Wellington in 1968.
Wadekar’s last Test was against England in 1974.
For his invaluable contribution to Indian cricket, Wadekar was also awarded the CK
Nayudu Lifetime achievement.
Uri Avnery, a trailblazing Israeli journalist and peace activist and one of the first to openly
advocate for a Palestinian state passed away at the age of 94 in Tel Aviv after suffering a
stroke.
US Senator John McCain, a celebrated Vietnam war hero, passed away after losing a battle
to brain cancer. He was 81.
Chhattisgarh Governor Balramji Das Tandon passed away at the age of 90.
US singer Aretha Franklin has died at the age of 76. The “Queen of Soul” was born in
Memphis, Tennessee, and made her debut in 1961.
Eminent Indian writer and journalist Kuldip Nayar passed away in New Delhi following a
brief illness. He was 95.
Rajan Nanda, a noted industrialist associated with which group Escorts Group passed away
on 6 August 2018. The 76-year old Rajan Nanda was Chairman & Managaing Director
(CMD) of the Escorts Group.
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Compendium-August, 2018
Important Days
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Compendium-August, 2018
Foreign Visits / Foreign Visitors
Visit of Prime Minister Shri Narendra Modi to Nepal in between August 30-31, 2018.
Visit of External Affairs Minister Smt. Sushma Swaraj to Vietnam and Cambodia in between
August 27-30, 2018.
Visit of External Affairs Minister Smt. Sushma Swaraj to Republic of Kazakhstan, Kyrgyz
Republic and Republic of Uzbekistan in between August 2- 5, 2018.
Source of Information
http://pib.nic.in
http://india.gov.in
http://www.ibef.org
http://thehindu.com
http://jagranjosh.com
http://gktoday.in
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