03 August 2018 - Daily Current Affairs

03 August 2018 - Daily Current Affairs

03 August 2018 - Daily Current Affairs

1. Suresh Prabhu inaugurates the 4th India International Footwear Fair 2018

  • The Union Minister Suresh Prabhu has inaugurated the 4th India International Footwear Fair 2018 (IIFF) at Pragati Maidan in New Delhi.
  • The government of India is formulating a strategy for greater coordination with States as well as trade bodies for the global promotion of India’s footwear industry.
Note: The IIFF -2018 has been organized by India Trade Promotion Organization in collaboration with the Confederation of Indian Footwear Industries and support of the Council for Leather Exports, Central Leather Research Institute (CLRI) and Indian Footwear Components of Manufacturers Association.

2. Maharashtra govt approves over Rs 7,000 cr to complete drinking water projects

  • The Maharashtra government has approved over Rs 7,000 crore to complete the drinking water projects in scarcity-hit areas of the state.
  • The state government has also approved a proposal of Rs 7,952 crore for completing 6,624 water projects in 10,583 villages.
  • The jumbo drinking water proposal is aimed at the completion of works in Konkan, Nashik, Aurangabad, Amravati, Nagpur and Pune divisions.

3. NHAI to sign MoU with SBI for a long-term, unsecured Loan of Rs 25,000 Crore

  • The National Highways Authority of India (NHAI) is getting an unsecured loan of Rs 25,000 crore from State Bank of India (SBI) for 10 years with 3 years of moratorium on repayments.
  • This is the largest amount of loan to have been sanctioned to NHAI in one stroke by any institution.
  • This is also the largest long-term unsecured loan sanctioned by SBI at a time to any entity.
  • The National Highways Authority of India (NHAI) is an autonomous agency of the Government of India, responsible for management of National Highways in India.
  • It is a nodal agency of the Ministry of Road Transport and Highways.

4. NITI Aayog launches an initiative to help find solutions to challenges in transport & road safety

  • The NITI Aayog CEO Amitabh Kant has launched ‘Move Hack’ initiative to help find solutions to challenges in public and private transport and road safety.
  • The objective of the initiative to crowdsource solutions for the future of mobility in India.
  • The top 30 teams from the online submissions on ‘movehack.gov.in’ and they will travel to Singapore for two days (1st & 2nd September).
  • They will be mentored by a group of experts who would advise them on design improvement, business viability and technical solutions.
  • The winners will be announced during the Move Summit 2018 on 7th and 8th September.
  • Awards for the hackathon include recognizing the top 10 winners, with the total prize of more than 2 crore rupees.

Banking & Finance

6. India's GDP Growth to rise to 7.5% this Fiscal: Morgan Stanley

  • According to a Morgan Stanley report, India's economy is expected to clock GDP growth of 7.5% in this financial year as against 6.7% in 2017-18.
  • The growth recovery will remain robust, supported initially by consumption and exports.
  • The report forecasts Consumer Price Index (CPI) inflation to remain slightly above the inflation target of 4% and the current account deficit below 2.5% of GDP.
  • Morgan Stanley is a leading global financial services firm providing investment banking, securities, wealth management and investment management services.
  • Morgan Stanley, formed by J.P. Morgan & Co. partners Henry Sturgis Morgan (grandson of J.P. Morgan), Harold Stanley and others, came into existence on 16th September 1935.


7. Veteran screenwriter Jalees Sherwani passes away

  • Jalees Sherwani (70-year), who had penned lyrics for several films like Dabangg, Wanted and Tere Naam, passed away.
  • Apart from writing dialogues for Sangam and Loafer, Sherwani also penned lyrics for films like Partner, Hello, Garv and Hello Brother.
  • Sherwani also penned lyrics for films like Partner, Hello, Garv and Hello Brother.

International Affairs

5. France's Parliament has signed into law a controversial asylum and immigration bill

  • France's Parliament has signed into law a controversial asylum and immigration bill to accelerate asylum procedures by cutting the maximum processing time to 90 days (current 120 days) after entering France.
  • The text was adopted on a final reading by 100 votes in favour to 25 against with 11 abstentions.
  • The Senate had rejected the bill, but the Lower House passed the text as President Emmanuel Macron's La Republique En Marche party holds a large majority, even if the law has exposed divisions within his own camp.


8. Zanu-PF's Emmerson Mnangagwa wins Zimbabwe election

  • According to the Zimbabwe Electoral Commission, Zimbabwe President Emmerson Mnangagwa has won country's landmark Presidential election.
  • With all 10 provinces declared, Mnangagwa won 50.8% of votes to 44.3% for opposition leader Nelson Chamisa of MDC party.
  • Mnangagwa needed over 50 per cent of the vote to secure victory without a second-round run-off.
  • The office of the President of Zimbabwe was established in 1980, when the country gained independence from the United Kingdom.
  • The President of Zimbabwe elected by direct universal suffrage using a two-round system and serves a maximum of two five-year terms.

9. Ballistic Missile interceptor AAD Successfully flight tested

  • The DRDO (Defence Research and Development Organisation) conducted the successful test of the Ballistic Missile Interceptor Advanced Area Defence (AAD) from Abdul Kalam Island, Odisha.
  • The interceptor missile hit a designated incoming dummy enemy missile at distance of 40 km.
  • The missile is capable of intercepting incoming targets at an altitude of 15 to 25 km.
  • It was launched against multiple simulated targets of 1500 km class ballistic missile.
  • The weapon system radars tracked the target and the missile locked on to it and intercepted the target with a high degree of accuracy.


10. Dustin Johnson won RBC Canadian Open Golf Title 2018

  • American professional golfer Dustin Johnson (world number one) has won the 2018 RBC Canadian Open at the Glen Abbey Golf Club in Oakville in Canada.
  • Dustin Johnson shot a 6-under par 66 and won his first RBC Canadian Open at 23-under par.
  • Now, he has become the first player after Tiger Woods with at least three wins in three consecutive seasons.
  • Dustin Johnson was awarded USD 1,116,000 for the win.
  • The Canadian Open is a professional golf tournament in Canada It is organized by Golf Canada.
  • It is the third oldest continuously running tournament on the tour, after The Open Championship and the U.S. Open.

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