Daily Current Affairs 3rd August, 2022

Daily Current Affairs 3 August 2022 for Banking/Insurance/SSC and other related exams.

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Centre releases postal stamp on Pingali Venkayya, designer of India’s national flag
To mark the birth anniversary of Pingali Venkayya, the designer of India’s national flag, the Central government released a special commemorative postage stamp on August 2.

  • A postage stamp in his honour was released in 2009. Also, the Vijayawada station of All India Radio was named after him in 2014. And last year, his name was proposed for the Bharat Ratna by Andhra Pradesh Chief Minister, YS Jagan Mohan Reddy.
  • He was a farmer, a geologist, a lecturer at the Andhra National College in Machilipatnam, and fluent in Japanese. He became instantly famous as `Japan Venkayya`.
  • In 1916, he published a booklet titled `A National Flag for India`. It not only surveyed the flags of other nations, but also offered 30-odd designs of what could develop into the Indian flag.

India to join 17 countries in Pitch Black 2022 Air combat exercise
India will join the other members of the QUAD, AUKUS (Australia, the UK and the US) as well as countries including UAE and key NATO members for Exercise Pitch Black 2022.

  • The exercises will be conducted by the Royal Australian Air Force (RAAF) starting August 19 to September 6. Almost 2,500 personnel from over 17 countries and 100 aircraft will engage in both Offensive Counter Air (OCA) and Defensive Counter Air (DCA) combat drills.

Ready to roll out World’s Most Advanced 5G Network Across India: Reliance Jio
Billionaire Mukesh Ambani’s Reliance Jio has emerged as the largest bidder for the 5G spectrum, acquiring close to half of all the airwaves sold in the latest auction for Rs 88,078 crore. According to Telecom Minister Ashwini Vaishnaw, the Adani group bought 400 MHz, or less than one per cent of all spectrum sold, for Rs 212 crore.

IAF to phase out remaining four MiG-21 squadrons by 2025
The Indian Air Force (IAF) has drawn up a three-year timeline to phase out the remaining four MiG-21 fighter squadrons with one of them set to retire from service in September.

  • The IAF also plans to start the phasing out of the three squadrons of MiG-29 fighter jets in the next five years, they said.
India, France hold two-day naval exercise in Atlantic Ocean
India and France held a two-day naval exercise in the North Atlantic Ocean to test synergy between the navies.

  • The successful conduct of these surface and aerial exercises symbolised the high degree of professionalism and interoperability that exists between the two navies.


SIDBI and SVC bank collaborate to increase loans to MSMEs
The SVC Co-operative Bank (SVC Bank) has entered into an agreement with the Small Industries Development Bank in India (SIDBI) to improve the flow of credit to the MSMEs.

  • As per the agreement, SIDBI will extend refinance facility to SVC Bank to facilitate an improved flow of credit to MSMEs.

GST revenue collection for July second highest ever at ₹1.49 lakh crore
GST collections for July remained above ₹1.4 lakh crore for the fifth straight month. Gross GST revenue collected in the month of July 2022 at ₹1,48,995 crore, which was the second highest collection ever since the introduction of the Goods and Services Tax.

  • The July revenue figure is 28% higher than the revenues in the same month last year of ₹1,16,393 crore, as per the data by the government.

BOB Financial Solutions launches its mobile app ‘bobcard’
BOB Financial Solutions has announced the launch of its credit card servicing mobile app, ‘bobcard’ to help customers with a one-stop solution to manage their Bank of Baroda credit card services.

  • The app has been designed in collaboration with IBM. It is a smart digital platform that offers a battery-saver dark-themed interface along with secured access with face ID, fingerprint lock & PIN, and a smart eye feature to ensure that card details of the customers remain private.
  • BOB Financial Solutions is a non-banking financial company that is wholly owned by the Bank of Baroda, an Indian public sector bank.


Director General of SSB takes additional charge of ITBP
Director General of Sashastra Seema Bal, SSB Dr. Sujoy Lal Thaosen took over the additional charge of Director General of Indo-Tibetan Border Police in New Delhi. Dr. Thaosen is an IPS Officer of the 1988 batch, Madhya Pradesh Cadre. IPS Sanjay Arora handed over the charge and customary baton to Dr. Thaosen.


“Lion Of The Skies: Hardit Singh Malik” book by Stephen Barker
A book titled “Lion of the Skies: Hardit Singh Malik, the Royal Air Force and the First World War” is all about an “India’s first fighter pilot” who participated in the World War, long before the Indian Air Force was born. The book has been written by author Stephen Barker, who describes in great detail, how challenging it was for an Indian to serve in the British armed forces, fighting racial discrimination – both institutional and interpersonal.


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