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Current Affairs 3rdAugust 2018

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ZestMoney acquires PhotographAI to boost its tech capabilities

Online consumer lending platform ZestMoney has acquired PhotographAI, an AI-as-a-service platform, which provides various computer vision Application Programming Interfaces (APIs).

The company did not disclose the size of the deal. APIs are a set of software codes that help machines to interact with one another.

Swiggy acquires on-demand delivery platform Scootsy

Food ordering and delivery platform, Swiggy, has announced the all-cash acquisition of Mumbai-based on-demand delivery platform Scootsy, an intra-city service that gets restaurant and gourmet food, toys, beauty products and electronics to the customer’s doorstep. Swiggy did not reveal the transaction details.

Ozone Enterprise acquires security firm Wallcam

Ozone Enterprise Group, a company backed by Everstone PE Capital, has acquired Wallcam, a company engaged in security and surveillance business in India for an undisclosed sum. Following the acquisition, Wallcam will become a fully-owned subsidiary of Ozone.

After Paytm, RBI orders Fino to stop taking on new users for payments bank

The newly conceptualised payment banks in India seems to have hit a rough patch following a notice from the banking regulator to not open any new accounts. Fino and Paytm have been asked to immediately stop onboarding new customers for payments banking service.

According to sources, Fino Payments Bank was served a notice by the RBI to stop adding new customers after the regulator noticed certain anomalies with regard to the deposits of existing account holders. Sources said the bank was seen violating the norms related to the deposit limit and that certain accounts were found to have deposits exceeding 1 lakh.

Five MPs conferred Outstanding Parliamentarian award

President Ram Nath Kovind granted “Outstanding Parliamentarian” award ♦ for the year 2013 to Dr Najma A. Heptulla (Manipur’s Governor and five time Rajya Sabha member ). ♦ for the year 2014 to Hukumdev Narayan Yadav (Bharatiya Janata Party’s (BJP) Lok Sabha member) ♦ for the year 2015 to Congress leader Ghulam Nabi Azad, ♦ for the year 2016 to Dinesh Trivedi (Trinamool Congress) ♦ for the year 2017 to Bhartruhari Mahatab (Biju Janata Dal [BJD] Member of Parliament [MP] from Odisha’s Cuttack). The Outstanding Parliamentarian Award was established in 1995.

ONGC won top honours at Swachhta Pakwada Awards

Oil and Natural Gas Corp (ONGC) received top honours at the Swachhta Pakwada Awards, an oil ministry initiative to honour companies and individuals doing exemplary work in cleanliness. The award was given away by Oil Secretary M M Kutty to ONGC Chairman and Managing Director Shashi Shanker. Indian Oil Corp (IOC) bagged the runner-up’s award. The Oil Ministry celebrated Swachhta Pakhwada fortnight from July 1 to 15 with the theme ‘Innovation and Sustainability’.

.Indian Origin Mathematician Akshay Venkatesh Wins Prestigious Fields Medal

Akshay Venkatesh, a renowned Indian-Australian mathematician, is one of four winners of mathematics’ prestigious Fields medal, known as the Nobel prize for math. Each winner receives a 15,000 Canadian-dollar cash prize.  The other three winners are Caucher Birkar, a Cambridge University professor of Iranian Kurdish origin; Germany’s Peter Scholze, who teaches at the University of Bonn and Alessio Figalli, an Italian mathematician at ETH Zurich.

Facebook to introduce time management tools

Facebook (and Instagram) has announced that it is to introduce a time management tool which will be like a daily reminder. This tool will help people to manage their time by restricting them in spending time on the platforms.  Using this tool the users can set a time limit to be spent on the app. They will be alerted when they reach the time limit. It is also introducing an option to deactivate notifications on smartphones.

India and USA Military Cooperation Meeting begins In New Delhi

The meeting was co-chaired by Lt Gen Satish Dua, Chief of Integrated Defence Staff to the chairman, Chiefs of Staff Committee (CISC) and Lt Gen Bryan Fenton, Deputy Commander, Indo-Pacific Command.  External Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman would meet their US counterparts in 2 plus 2 meeting in September in New Delhi.  The main aim of the meeting is on strengthening defense and strategic ties.

Kumar Mangalam Birla, YC Deveshwar appointed directors in Air India

Renowned industrialists Kumar Mangalam Birla (heads of $44.3 billion multinational Aditya Birla Group) and YC Deveshwar (chairman of ITC) appointed as non-official independent directors in Air India, for a period of three years. This appointment was approved by Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi. Besides them, Shyamvir Saini and Gurmohinder Singh will be non-official independent directors in National Seeds Corporation Ltd and Bharat Earth Movers Limited respectively. Tapan Kumar Mandal has been named non-official independent directors in Kolkata Metro Rail Corporation Ltd.

IWAI Launches Dedicated Portal FOCAL For Cargo Owners And Shippers

The Inland Waterways Authority of India (IWAI) has launched a dedicated portal to connect cargo owners and shippers with real-time data on the availability of vessels. The portal has been named as the Forum of Cargo Owners and Logistics Operators (FOCAL). This is designed by the IT Department and the traffic wing of IWAI.

Lewis Hamilton Won 6th Hungarian Formula 1 Grand Prix

Lewis Hamilton of Mercedes won the Hungarian Grand Prix for the 6th time, at the Hungaroring circuit, in Hungary. This is the 67th career victory for Lewis Hamilton. Daniel Ricciardo was named Driver of the Day by Formula One for finishing at fourth position after starting from the 12th position.

Ballistic Missile Interceptor AAD successfully Flight Tested

Defence Research & Development Organisation (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 km was launched against multiple simulated targets of 1500 km class ballistic missile. The Chief of the Air Staff, Air Chief Marshal BS Dhanoa witnessed the flight test along with other senior officials. About DRDO Sanjay Mitra (Present Defence Secretary) is the present Chairman of DRDO. DRDO Headquarters in New Delhi.

The successful test on Naval LCA marks a milestone

The indigenous Light Combat Aircraft (LCA), Naval Prototype 2 (NP2) successfully landed on the Shore Based Test Facility (SBTF) in Goa. This trial is a milestone towards completion of CCT trials of LCA Navy. The Arrestor Hook System (AHS) for Ship Deck operations of LCA Naval version was designed and developed by Aircraft Research and Design Centre (ARDC) wing of Hindustan Aeronautics Limited (HAL). The combined effort by HAL, Aeronautical Development Agency (ADA), Center for Military Airworthiness & Certification (CEMILAC), Regional Director Aeronautical Quality Assurance (RDAQA) and Navy led to the success. Navy will conduct a series of such trials and the Naval LCA is expected to be on INS Vikramaditya by the end of 2018.

World Junior Squash Championships 2018 concludes In Chennai

A total of 171 players including 116 men and 55 women from 28 countries took part in the World Junior Squash Championship. Cyrus Poncha was the tournament director. Here is the list of winners 1.Men’s Individual- Mostafa Asal (Egypt) 2 Women’s Individual -Rowan Elaraby (Egypt) 3. Men’s Team – Egypt Runners List Men’s Individual – Marwan Tarek (Egypt) Women’s Individual – Hania El Hammamy(Egypt) Men’s Team – England

Waste bins to be installed in fishing boats

Department of Fisheries has asked the fishermen to install waste bins in fishing boats. The aim to prevent the fishermen engaged at the sea from disposing the wastes into the deep sea. The department observed that the trawl boats dispose the wastes like plastic carry bags, sachets of masala, Old plastic fishing nets and other waste into the sea. Also, the government urged the fishermen to use square cod-end nets which have a mesh size of 35 mm. The government has allocated Rs.7 lakh for the purpose.

 

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