22 - 29 Aug'22

FINANCE
The central bank has been selling dollars in the foreign
Forex reserves fall exchange market aggressively to curb any sharp fall in
$6.7 bn to $564 bn in the rupee, which is one of the main reasons for the
7 days, at a 2-year reserves to fall
low
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Days after Adani group on August 23, announced acquiring a Takeover battle:
29.18 per cent stake in NDTV through the acquisition of VCPL,
NDTV promoter
which holds a 99.99 per cent stake in RRPR Holding, the media
entity, Adani group
group's promoters have asserted that the deal cannot go ahead
approach Sebi on
without Sebi's nod.

warrants
click here to read more conversion

A clear hint at his succession plan for the Reliance Industries, its
Mukesh Ambani chairman and managing director Mukesh Ambani said at the
company's 45th AGM said that “at a time when a bright future is
gives strongest
beckoning Reliance, what gives me optimism is our huge
signal yet on
reservoir of young, dynamic and best-in-class talent. Our next-
Reliance's
gen leaders are confidently taking over the reins across
succession plan businesses."
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Payment system participants will be provided access to RBI in talks to set

this registry for near-real-time fraud monitoring. The up registry to
aggregated fraud data will be published to educate
check banking
customers on emerging risks.
frauds

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Powell's Jackson The total crypto market cap fell below $1 trillion after
Hole speech staying above it for over a month. Bitcoin fell below
leaves crypto $20,000, and Ethereum slipped below $1,500
investors in a
tough spot Click Here To Read More

Placement Preparation Committee

 TECHNOLOGY
Meta and Jio JioMart on WhatsApp will enable users in India to browse
Platforms through JioMart's grocery catalogue, add items to the cart and
collaborate to make the payment to complete the purchase – without leaving
launch JioMart the WhatsApp chat.
shopping services
on WhatsApp click here to read more

Highlighting increasing digital connectivity in remote parts of the

country, Modi spoke about Jorsing village in AP, which got 4G
Digital India reaching
internet services on Independence Day. Acknowledging the startup
revolution the country has seen in the past few years, Modi said,
villages, boosting
"Today, we are seeing the Digital India initiative, startups growing digital entrepreneurs:
in the country, and a lot of talent coming from tier II and tier III PM Modi
cities. We have to believe in our abilities."
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IT attrition may This comes as Wipro last week communicated to employees that mid- to
senior-level staff would not receive their variable pay for the June-ended
spike again as
quarter while junior associates will get only 70 per cent of the targeted
firms delay pay. TCS, too had delayed a performance bonus by a month for a
performance- particular band of employees due to "administrative" reasons.
linked payouts
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The top five artificial intelligence deals accounted for 81.4% of the
overall value during July 2022. The combined value of the top five Technology industry
artificial intelligence deals stood at $2.11bn, against the overall artificial intelligence
value of $2.6bn recorded for the month. deals total $2.6bn
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globally in July 2022

Reliance Jio is expected to announce its Jio 5G services in India Today at

the company's annual general meeting (AGM). The virtual launch event
will kick off at 2 pm IST. Ahead of Reliance's AGM, Bharti Airtel's chairman
JIO 5G roll out to Sunil Mittal has revealed details related to the launch of Airtel's 5G
happen by Diwali services. Telecom minister Ashwini Vaishnaw recently said 5G services
would roll out in India starting from October 12

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Placement Preparation Committee

 BUSINESS
India has ample foreign exchange reserves to withstand
S&P raises India pressure on credit worthiness, S&P Global Ratings said on
Thursday, while raising its inflation forecast by 50 basis points to
inflation forecast
6.8 per cent for FY23 citing higher commodity prices, rising
by 50 basis points
interest rates and foreign exchange volatility. It kept its growth
to 6.8% for FY23 forecast unchanged at 7.3 per cent for the financial year.

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In the fortnight ended August 13, 2021, bank advances stood at Rs

Banks credit up
107.79 lakh crore and deposits at Rs 155.72 lakh crore, according to
by 15.32%;
the Reserve Bank of India's (RBI) Scheduled Banks' Statement of
Position in India as on August 12 released on Friday. deposits by 8.84%
in the fortnight
Click Here To Read More ended Aug 12: RBI

According to the FM, the economy will grow at 7.4 per cent in this fiscal
India will grow at
and continue at the same level in the next fiscal too. It's not time yet to
7.4%, but not yet throw caution out of the window on the economic front, Finance minister
time to throw Nirmala Sitharaman said at the FE Best Banks Awards event in Mumbai.
caution to the The cautious stand will continue because external factors are still
showing some of the downside risks that are not in the govt's hands, she
wind, says FM
said in reply to a question on economic optimism at the moment.
Nirmala Sitharaman

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India's Adani Group said on Tuesday its media unit will buy a
majority stake in New Delhi Television, one of nation's most
Adani Group to buy
popular, in the most high-profile bet by billionaire Gautam Adani
in the vibrant media sector. Adani's unit will indirectly buy a 29.2% stake in NDTV,
29.18% stake in New Delhi Television Ltd and launch an open offer launch open offer for
for another 26% stake. The open offer would be worth 4.93 billion another 26%
Indian rupees ($61.73 million), according to the statement.
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Variable payout, better understood as performance pay, refers to the

Why IT majors compensation given to employees based on their contribution beyond
their normal job requirements. It is mainly based on two factors,
Infosys, Wipro,
employee performance as well as the company’s performance. Most of
and TCS are these IT behemoths are cutting back on variable payouts because of the
scaling back on squeeze in margins for the June quarter. Amid increasing costs, Infosys
the variable reported a lower-than-expected rise in net profit, 3.2 per cent, in the first
quarter of the financial year 2023.
payout?
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Placement Preparation Committee

 POLITICS
The National parties have collected more than ₹ 15077 crore from
National parties unknown sources between 2004-05 and 2020-21 , an analysis by the
collected Crores from – Association for Democratic body(ADR) ,showed. ADR considered 8
unknown sources National and 27 regional parties for this analysis.
between 2004-05 and
2020-21: ADR
Click here to read more

The SC bench comprising Chief Justice N.V. Ramana and Justice PIL against freebies:
Krishna Murari observed that freebies and social welfare schemes Need to strike
were two different things and stressed the need to balance
balance between
between ‘economy losing money’ and welfare measures.
‘economy losing
Click here to read more money’ and welfare
measures ,says SC

Special A special investigation team on Thursday arrested three more

Investigation Team people who were allegedly part of a mob that had set houses
ablaze during the 1984 anti-Sikh Riots.
arrests three more
involved in 1984
anti-Sikh riots in Click here to read more
Kanpur

An FIR was registered against Narmada Bachao Andolan

leader Medha Patkar and 11 others in Madhya Pradesh’s
FIR against Medha
Barwani district on a complaint by a villager alleging the
Patkar, 11 others for
misuse of funds for managing educational facilities for tribal
'misuse' of funds
students by diverting them for “Political and anti-national
agenda”.

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The Nagaland Tribes Council (NTC) has drawn the center's

attention to the prevailing situation in the state , saying the
Resolve Naga
inordinate delay in finding a political solution to the Naga issue as
issue at the the general public of Nagaland have become victims of the
earliest: Nagaland unabated and multiple illegal taxations and all kinds of
Tribes council suppressive activities of the authorities.
(NTC) to centre
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Placement Preparation Committee

 INTERNATIONAL
Tens of millions of people are battling on of the worst floods
Pakistan floods in a decade of Pakistan. The main river is on the verge of
leave a trail of bursting its banks, flooding farmlands and destroying homes.
destruction. Death toll rises to 1136.

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NASA postpones the launch for at least four days of its

Snag postpones
colossal next-generation rocket ship due to an engine
NASA moon
problem at the last 40 minutes.
rocket launch
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UN warns that 6 million Afghans are heading towards the

Afghanistan worst famine after the exit of the US from the country. The UN
heads towards says that 770 million should be paid as an aid to help Afghans
famine to help them sail through the winters.

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Iraq’s most influential Shi’ite Muslim cleric Moqtada al-Sadr

Iraqi cleric Sadr
said he was quitting politics and closing his institutions in
announces complete
response to an intractable political deadlock. This has led to a
withdrawal from
series of riots in the capital.
political life
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NEW YORK: Elon Musk has formally subpoenaed a Twitter

Elon Musk whistle-blower o share information about spam accounts on
subpoenas Twitter social media as the billionaire fights in court to back out from
whistle-blower in a massive $44 billion buyout deal.
buyout battle

click here to read more

Placement Preparation Committee

 SPORTS
Vinesh Phogat keeps doubters at bay by defeating Antim Panghal
Vinesh Phogat, Sonam in a one-sided encounter; Sonam Malik and Sarita Mor makes the
Malik, Sarita Mor most out of the WFI's trials for World Wrestling Championships in
dominate WFI trials to absence of key names
qualify for World
Championships
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Liverpool earned their first win of the season stunningly after Liverpool equal
equalling the record for the biggest ever Premier League victory Premier League
with a 9-0 thrashing of promoted Bournemouth at Anfield on
record with 9-0
Saturday.
hammering of
Click here to read more Bournemouth

Manipur teen The 15-year-old from Manipur prevailed over Brazil's Bianca Reis in
Linthoi Chanambam the final to finish on top of the podium in the women's 57kg
contest at the Arena Hotel Hills
becomes India's first
judo world
champion Click here to read more

Hardik Pandya’s all-round brilliance powered India to a Hardik Pandya’s last-

thrilling five-wicket win over arch-rivals Pakistan in an Asia over six lifts India to
Cup game on Sunday. victory in thriller
against Pakistan
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FIFA lifts AIFF's Lifting of the suspension also means that the Women's Under-17
World Cup, which was scheduled to take place in India from
suspension, India
October 11-30, will be held in the country as planned.
to host Women's
U-17 World Cup Click Here To Read More

Placement Preparation Committee