Daily Current Affairs 7 August 2019: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 7 August 2019. It includes all Major National, International, Business and Sports related current affairs of 7 August 2019. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 7 August 2019 Current affairs test.

National News

1. National Handloom Day

  • The 5th National Handloom Day is observed on 7th August 2019.
  • It was on this day in 1905 that ‘Swadeshi Movement’ was formally launched in Calcutta.
  • Union Textiles Minister : Smt. Smriti ZubinIrani

2. Bills against Honour Killings and Mob Lynching

  • Rajasthan Assembly has passed bills against Honour Killings and Mob Lynching.
  • Rajasthan has become 2nd state after Manipur which passed a law to curb lynching cases.
  • Rajasthan CM: Ashok Gehlot || Governor: Kalyan Singh.

3. Kosi-Mechi River Interlinking Project

  • Government of India has approved a Kosi-Mechi river interlinking project in Bihar.
  • The estimated cost of the project is Rs 4900 crore.

4. Riot Control Vehicle ‘Vajra’

  • Arunachal Pradesh Home Minister Bamang Felix has flagged off Riot Control Vehicle ‘Vajra’ from Police Headquarter in Itanagar.
  • Chief Minister of Arunachal Pradesh: Pema Khandu || Governor Of Arunachal Pradesh: BD Mishra.

International News

1. Australian Super and Ontario Teachers’ Pension Plan with NIIF

  • Australian Super and Ontario Teachers’ Pension Plan will invest $1 billion each in National Investment and Infrastructure Fund (NIIF) Master Fund.
  • National Investment and Infrastructure Fund is India’s first sovereign wealth fund that was set up by the Government of India in February 2015.
  • NIIF: CEO: Sujoy Bose || Headquarters: Mumbai || CFO: Saurabh Raj Jain (CFO) || Founded: February 2015
  • Australian Super is the largest Australian superannuation and pension fund, with roughly 1 in 10 Australian workers as members. Australian Super is an industry superannuation fund run only to profit members.
  • The Ontario Teachers’ Pension Plan Board is an independent organization responsible for administering defined-benefit pensions for school teachers of the Canadian province of Ontario. Ontario Teachers’ also invests the plan’s pension fund, and is one of the world’s largest institutional investors.

2. Transiting Exoplanet Survey Satellite

  • Transiting Exoplanet Survey Satellite of NASA has uncovered ‘first nearby super-Earth’ named GJ-357-D.
  • The Transiting Exoplanet Survey Satellite is a space telescope for NASA’s Explorers program, designed to search for exoplanets using the transit method in an area 400 times larger than that covered by the Kepler mission. It was launched on April 18, 2018 atop a Falcon 9 rocket.
  • The National Aeronautics and Space Administration is an independent agency of the United States Federal Government responsible for the civilian space program, as well as aeronautics and aerospace research. NASA was established in 1958, succeeding the National Advisory Committee for Aeronautics.
  • Headquarters: Washington DC || Founder: Dwight D. Eisenhower || Founded: 29 July 1958, United States

3. Water Stress Index

  • India is among 17 countries at 13th position facing ‘Extremely High’ water stress.
  • The World Resources Institute’s (WRI) Aqueduct Water Risk Atlas says that these 17 countries are also close to ‘Day Zero’ scenario, when taps will run completely dry.
  • The most water-stressed countries are—in order of their ranking— Qatar, Israel, Lebanon, Iran, Jordan, Libya, Kuwait, Saudi Arabia, Eritrea, UAE, San Marino, Bahrain, India, Pakistan, Turkmenistan, Oman and Botswana.
  • These countries are home to a quarter of the world’s population.

Business News

1. MobiKwik with Edelweiss Tokio Life Insurance

  • Edelweiss Tokio Life Insurance has tied up with MobiKwik to offer mobile-based group insurance solutions for MobiKwik Users.
  • MobiKwik is an Indian company founded in 2009 that provides a mobile phone based payment system and digital wallet. Customers add money to an online wallet that can be used for payments.
  • MobiKwik: Founded: April 2009 || CEO: Bipin Preet Singh || Headquarters location: Gurugram

2. Monetary Policy Committee

  • RBI has cut Repo Rate for 4th Time and is lowered by 35 bps to a 9 year low of 5.4%.
  • Repo Rate: 5.40%
  • Reverse Repor Rate: 5.15%
  • Marginal Standing Facility: 5.65%
  • Bank Rate: 5.65%
  • Cash Reserve Ratio: 4%
  • SLR: 18.75%

3. Reliance’s New Acquisition

  • Reliance will acquire an 87.6% stake in Shopsense Retail Technologies Pvt. Ltd, which runs fashion portal Fynd.
  • Reliance Industries Limited is an Indian multinational conglomerate company headquartered in Mumbai, Maharashtra, India.
  • Reliance owns businesses across India engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications.

4. State Bank of India’s Benchmark Lending Rates

  • SBI has cut its Benchmark Lending Rates by 15 bps to 8.25% per annum from 8.40% after RBI lowered Repo Rate by 35 bps to 5.40%.
  • The marginal cost of funds-based lending rate (MCLR) is the minimum interest rate that a bank can lend at.
  • MCLR is a tenor-linked internal benchmark, which means the rate is determined internally by the bank depending on the period left for the repayment of a loan.

Sports News

1. Mission Shakti

  • Mission Shakti was launched by Actor Aamir Khan.
  • Mission Shakti is an initiative by Maharashtra Minister Sudhir Mungantiwar to train athletes from Chandrapur and Gadchiroli.

2. Summer Olympic Games

  • 2016 – Rio De Janerio, Brazil
  • 2020 – Tokyo , Japan
  • 2024 – Paris ,France
  • 2028 – Los Angeles ,USA

3. 2019 Citi Open / Washington Open (Tennis)

  • Men’s Singles : Nick Kyrgios (Australia)
  • Women’s Singles : Jessica Pegula (United States)

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