Daily Current Affairs 3 September 2022 for Banking/Insurance/SSC and other related exams.
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From Animall to GoKwik: 11 Indian companies on the ‘Forbes Asia 100 to Watch 2022’ list
The second ‘Forbes Asia 100 to Watch 2022’ list which was released on August 29 includes 11 Indian companies. It highlights companies and startups across the region that are addressing real-world challenges with fresh thinking and innovative products and services.
- Singapore leads the list with 19 companies, followed by Hong Kong with 16 and South Korea with 15. India is at rank 5 with 11 companies, tailing China at rank 4 with 13 companies.
- The list of companies: Agro Star (2013), Animall (2019), Bijak (2019), Bijnis (2015), Euler Motors (2018), FRND (2018), GoKwik (2020), GramHeet (2020), Park+ (2019), Pocket FM (2018) and TartanSense (2015).
India overtakes UK to become fifth-largest economy
India has overtaken the UK to become the fifth-largest economy in the world. Economists and business executives anticipated that India’s position would continue to improve in the years to come due to greater economic growth.
- The United States, China, Japan, and Germany are the only nations with economies larger than India’s. The UK is currently in sixth place, just behind India.
Karnataka launches Global Startup Challenge “VentuRISE”
With an aim to support growth stage startups in manufacturing and sustainability-related sectors, the Karnataka government launched – the Global Startup Challenge – VentuRISE. VentuRISE will be a part of the Global Investors Meet – Invest Karnataka 2022, which will be held from 2 – 4 November in Bengaluru.
- The global challenge will help entrepreneurs across the globe with a platform to showcase their innovative products or solutions and connect with potential investors.
The Markham City of Canada Has Named a Street after the Internationally Acclaimed Music Composer AR Rahman
The City of Markham has named a street after one of the most celebrated Indian music composers AR Rahman. After the news was disclosed to him he wrote and published a letter showing his appreciation for this step taken by Markham.
- Rahman has always been one of the most prominent music directors and maestro of India but with time he has become a worldwide figure. He spends over three decades in the Indian film industry. And his worldwide popularity went to the next level after he won an Academy Award in the year 2009 for his composition for the movie Slumdog Millionaire.
BUSINESS & ECONOMY
UPI transactions hit record 657 crore in August
Mass retail payments platform Unified Payments Interface, popularly known as UPI, posted yet another life high in August. The platform processed 6.57 billion (657 crore) transactions, totalling ₹10.73 trillion, data released by the National Payments Corporation of India (NPCI) showed. UPI transactions by volume rose 85% on year, while it was up nearly 68% by value as compared to last year.
Goldman cuts India’s growth estimate; Morgan Stanley sees downside risks
Goldman Sachs cut the GDP growth projection to 7 per cent from 7.2 per cent earlier. Citigroup cut its projection to 6.7 per cent from 8 per cent, while Moody’s cut its prediction to 7.7 per cent from 8.8 per cent.
- State Bank of India has also slashed the growth projection from 7.5 per cent to 6.8 per cent.
- The lower-than-expected growth during April-June created downside risk of 40 basis points to current fiscal year growth estimates, Morgan Stanley said in a note.
All-India House Price Index rose by 3.5% in Q1 of 2022-2023
All-India House Price Index of Q1, 22-23: The all-India house price index (HPI) increased by 3.5% year over year, during the first quarter of 2022–2023 according to information made public by the Reserve Bank of India. The HPI increased by 1.8% between January and March and by 2% between April and June of 2021–22.
Jasprit Bumrah becomes the face of new-age, eco-friendly luggage brand uppercase
Brainchild of industry pioneer Mr. Sudip Ghose, Acefour Accessories, a travel accessories company, has signed Jasprit Bumrah as brand ambassador for its eco-friendly luggage brand “uppercase” for two years. Jasprit Bumrah, exclusively managed by RISE Worldwide, a Reliance initiative and India’s largest sports and entertainment company, will lead the D2C brand’s ‘Never Ordinary’ campaign. His extraordinary game across formats makes him the perfect fit to represent the brand.
Yamuna Kumar Chaubey gets charge of NHPC chairman and managing director
State-owned hydro power giant NHPC said that its Director (Technical) Yamuna Kumar Chaubey has been given the charge of Chairman and Managing Director for three months beginning September 1.
- Abhay Kumar Singh ceased to be the Chairman and Managing Director (CMD) of the company with effect from August 31, 2022, upon attaining the age of superannuation.
64th Ramon Magsaysay Award 2022 announced
The Ramon Magsaysay Awards Foundation (RMAF), which is widely regarded as the “Nobel Peace Prize of Asia,” recently announced this year’s awardees in a global announcement ceremony. The 2022 Ramon Magsaysay Awardees are Sotheara Chhim (Cambodia), Bernadette Madrid (Philippines), Tadashi Hattori (Japan) and Gary Bencheghib (Indonesia).
- The Ramon Magsaysay Award, established in 1957, is Asia’s greatest honour and distinction. The award is managed by RMAF. It is named after Ramon Magsaysay, the third president of the Philippines.