Daily Current Affairs 1st August, 2022

Daily Current Affairs 1 August 2022 for Banking/Insurance/SSC and other related exams.

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PM launches Power Sector’s Revamped Distribution Sector Scheme
Prime Minister Narendra Modi participated in the grand finale of ‘Ujjwal Bharat Ujjwal Bhavishya – Power @2047’ via video conferencing, during which he launched the revamped distribution sector scheme and emphasised on how the elimination of numerous prior energy sector flaws by the central government has strengthened the power sector.

  • He also laid the foundation stone of various green energy projects of the National Thermal Power Corporation Limited (NTPC).
  • The initiative proposes to give financial support to discoms with an outlay of more than Rs 3 lakh crore for a five-year period till FY 2025–26.

Ex VINBAX 2022, the third bilateral army exercise between India and Vietnam, starts in Haryana
The 3rd edition of Vietnam-India Bilateral Army Exercise “Ex VINBAX 2022” is conducted at Chandimandir, Haryana from August 1 to 20, 2022. The theme of Ex VINBAX 2022 is the “Employment and deployment of an Engineer Company and a Medical Team as part of United Nations Contingent for Peace Keeping Operations”. The exercise will further strengthen the bilateral relations between India and Vietnam.

4th India-Oman Joint Military Exercise ‘AL NAJAH-IV’ begins
The 4th Edition of India-Oman Joint Military Exercise ‘AL NAJAH-IV’ begins in Rajasthan at the Foreign Training Node of Mahajan Field Firing Ranges. The exercise takes place between contingents of the Indian Army and the Royal Army of Oman from August 01 to 13, 2022. The 3rd edition of Ex AL NAJAH IV was held at Muscat from 12 to 25 March 2019.


Pakistan, IMF reach agreement on $6 billion extended fund facility loan
The International Monetary Fund (IMF) has said that it had reached a staff-level agreement with Pakistan on the combined seventh and eighth reviews for a USD 6 billion Extended Fund Facility (EFF) loan facility.

  • “The immediate priority is to stabilize the economy through the steadfast implementation of the recently approved budget for FY23, continued adherence to a market-determined exchange rate, and a proactive and prudent monetary policy,” a statement issued by the IMF said.

Earth Records Shortest Day Ever as Rotation Completed in Less Than 24 Hours
Earth, on July 29, marked the shortest day ever recorded. While generally, our planet takes a full 24-hour period to complete one rotation, which is the basis of the concept of day and night, but on that day, the Earth completed its rotation 1.59 milliseconds before than the standard 24-hour period.

  • With the completion of the rotation 1.59 milliseconds – roughly one-thousandth of a second – before the standard period, the Earth smashed its own record of 2020. On July 19, 2020, the Earth completed its rotation 1.47 milliseconds under 24 hours. It was also the shortest month that has ever been recorded since 1960s, as per a report by Independent.


Max Verstappen wins F1 Hungarian Grand Prix 2022
Red Bull’s Max Verstappen (Netherlands) has won the Formula One 2022 Hungarian Grand Prix 2022. This is his overall 28th race win and the 10th win of the 2022 season. Lewis Hamilton (Mercedes-Great Britain) stood second and George Russell (Mercedes – Britain) came third.

England beats Germany 2-1 in UEFA Women Euro 2022 final
England beat Germany 2-1 in the final of the European Championship after extra time to win its first major women’s soccer title.

  • The tournament-record crowd of more than 87,000 underlined the growth of women’s soccer in Europe since the last time England and Germany played for a continental title 13 years ago.

Four Olympians appointed to IOC Athletes’ Commission|
Olympians Allyson Felix (USA), Alistair Brownlee (UK), Oluseyi Smith (Nigerian-Canadian athlete) and Masomah Ali Zada have joined the Athletes’ Commission (AC) of the International Olympic Committee (IOC) to help represent the athlete voice within the Olympic Movement. One of them, cyclist Masomah Ali Zada who was born in Afghanistan, is the first refugee athlete on any IOC commission.

  • They can each serve a term of up to eight years. With these additions, the IOC AC will consist of 14 women and 9 men.


Tamil Nadu Police received President’s colour from Venkaiah Naidu
In an usual event at Rajarathinam Stadium in Chennai, Chief Minister M.K. Stalin received the renowned “President’s Colours” for the Tamil Nadu Police from Vice-President of India M. Venkaiah Naidu. One of the very few law enforcement agencies in the nation to be awarded the coveted “President’s Colours” is the Tamil Nadu Police. To commemorate the achievement, Mr. Stalin declared that each police officer in the service would get a medal.

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