NATIONAL NEWS 

Income Tax Payers won't be Eligible for APY 

• Income tax payers will not be allowed to enrol in the government's social security scheme Atal Pension Yojana (APY) from 01 October 2022 announced by Finance Ministry. 

• The government introduced APY on 01 June 2015, to provide social security to workers mainly in the unorganised sector.  

• Subscribers of the scheme get a minimum guaranteed pension of Rs 1,000 to Rs 5,000 per month after attaining 60 years of age depending on their contributions. 

• The new notification will not apply to subscribers who have joined or joins the scheme before 01 October 2022. 

• Under the income tax law, people having taxable income of up to Rs 2.5 lakh are not required to pay income tax. 

• Currently, all Indian citizens between the age group of 18-40 years can join APY through bank or post office branches where one has the savings bank account. 

Mobile App to Curb GST Evasion 

• The government of Kerala aims to curb GST evasion the app named ‘Lucky Bill App’ and it will be launched on 16 August 2022 by Chief Minister Pinarayi Vijayan.  

• The Kerala government is set to launch a mobile app where people can upload original bills and also stand a chance to win prizes.  

• The state government expects this will help increase tax collection as people will be encouraged to ask for bills while purchasing goods and availing services. 

• The government is looking for new ways to support the revenue and financial status of the state with this app. 

• The app is capable enough to help the state’s GST department to examine return filings with the help of uploaded bills. 

INTERNATIONAL NEWS 

Treaty Between India and Australia 

• The Union Cabinet, chaired by Prime Minister Shri Narendra Modi approved the signing of an audio-visual co-production treaty between India and Australia with the view to promoting the co-production of films. 

• Audio-visual co-production treaties are enabling documents that facilitate the co-production of films between two countries. 

• India has so far, signed one 1audio-visual co-production treaty with foreign countries. 

• Australia has emerged as a preferred destination for the shooting of Indian films. 

• India is fast emerging as a major content hub for filmmakers looking for new projects. 

BANKING 

SBI Formalizes Policy of Lab-Grown Diamonds 

• State Bank of India (SBI) is the first Indian lender to frame a policy to fund makers of lab-grown diamonds which come across as replicas of natural diamond stones. 

• These diamonds are priced at a 30-40% decrease from the pure or earth-mined diamonds. 

• To start with SBI’s Diamond Bourse department in Mumbai, Maharashtra Bandra Kurla Complicated and the Industrial department in Surat, Gujarat has been recognized for the enterprise. 

Yes Bank Partners with IBSFINtech 

• Yes Bank and IBSFINtech, the leading TreasuryTech Solution provider have partnered to explore untapped opportunities emerging out of the digitization of corporate finance. 

• The partnership will empower the corporate treasury ecosystem with a robust decision-making tool and automated workflows backed by seamless bank connectivity. 

• The partnership provides next-gen technology solutions across Cash, Liquidity, Treasury, Risk, Trade Finance, and Supply Chain Finance functions of corporations. 

• It will yield paperless communication between the Bank and corporates across the function of treasury and trade finance.  

• From issuing fund transfers to forex transactions to completing trade documentation, the entire process will be digitized and powered by the robust platform offered by IBSFINtech. 

SPORTS 

First Cricketer to Play 600 T20 Matches 

• Former West Indies all-rounder Kieron Pollard became the first cricketer to play 600 T20 matches. 

• The hard-hitting batter achieved this landmark during his side’s London Spirit’s match against Manchester Originals during the ongoing The Hundred tournament at Lord’s. 

• He has scored 11,723 runs across 600 games at an average of 31.34. 

• He has the best individual performance of 104. 

• Pollard has scored one century and 56 half-centuries in the format. 

• Behind him are players Dwayne Bravo (543 matches), Shoaib Malik (472), Chris Gayle (463) and Ravi Bopara (426). 

First Khelo India Women's Hockey League 

• The first Khelo India Women's Hockey League under-16 will be held at the Major Dhyanchand Stadium in New Delhi between 16 August and 23 August 2022. 

• According to the Ministry of Youth Affairs and Sports, a total of 16 teams from across the country are participating.  

• A total of 56 matches will be played and over 300 players will compete in Phase 1 of the league.  

• The Sports Authority of India has allocated a total of 53.72 lakh rupees for 3 phases of the competition, which includes Prize money of 15.5 lakh rupees. 

2022 UEFA Super Cup 

• Real Madrid defeated Eintracht Frankfurt 2-0 to win the 2022 UEFA Super Cup in Helsinki, Finland. 

• The UEFA Champions League and UEFA Europa League champions compete in the annual football tournament known as the UEFA Super Cup. 

• Real Madrid overcame Eintracht Frankfurt, the Europa League champions to win the championship for the seventh time. 

• Casemiro wins player of the game. 

RANKS, INDICES & REPORTS 

India Ranks Third in Start-Up Ecosystem 

• Science and Technology Minister Dr. Jitendra Singh announced that India ranks 3rd in the Start-Up ecosystem and in terms of the number of Unicorns in the world.  

• There are currently 105 unicorns out of which 44 were born in 2021 and 19 in 2022. 

• India in its 75th year of Independence is now home to 75 thousand StartUps. 

• 49 per cent of the start-ups are from tier-2 and tier-3 cities. 

AWARDS & PRIZES  

Lisbon Triennale Lifetime Achievement Award 

• Renowned Bangladeshi architect, researcher and educator Marina Tabassum became the first person from the global south and first south Asian to win the prestigious Lisbon Triennale Millennium Lifetime Achievement Award. 

• She will receive an original artwork by the Portuguese artist and sculptor Carlos Nogueira as award during the Lisbon Triennale which begins on 29 September in Lisbon, Portugal.   

• Marina Tabassum is known for her architectural designs that break away from commercialism and deeply embed environmental concerns. 

• She has also designed bamboo houses at the Rohingya refugee camps. 

• The Lisbon Triennale Millennium Lifetime Achievement Award recognizes a young architect or practice to celebrate their achievements and promote their career.   

BOOKS & AUTHORS 

'Fish and Seafood' Book 

• Minister of Fisheries and Animal Husbandry Parshottam Rupala launched a unique coffee table book titled - Fish and Seafood - a collection of 75 gourmet recipes in New Delhi. 

• The Department of Fisheries has come up with this initiative to boost the domestic consumption of fish and seafood, along with popularizing the local fish species. 

• The book was launched in the presence of both the Minister of States for Fisheries and Animal Husbandry Dr L. Murugan and Dr Sanjeev Kumar Balyan. 

• The recipe book is a highlight of the diversity of fish available within the domestic water bodies and the fish culinary heritage of the country that signifies the diverse cooking and eating styles across the country. 

New Book Titled “Bravo Yadav” 

• Deepak Singh, an established content creator with more than 15 years of experience in content creation authored a book ‘Bravo Yadav’. 

• The book is a biography of Kargil’s hero and Param Vir Chakra recipient Subedar Yogendra Singh Yadav. 

• The biography of Kargil Hero Yogendra Singh Yadav honors the brave and indomitable spirit of the soldiers who refused to surrender before adversities in the Kargil War in 1999. 

• The book rightly narrates Yogendra Singh Yadav’s courage as a patriot and warrior, surviving the battle of Tiger Hill and being a key stoke towards India’s victory against Pakistan. 

IMPORTANT DAYS 

World Elephant Day 

• World Elephant Day is observed every year on 12 August. 

• The day was first observed on 12 August 2012. 

• It was co-founded by Canadian filmmaker Patricia Sims and the Elephant Reintroduction Foundation of Thailand, an initiative of HM Queen Sirikit. 

• Since 2012, the day is marked with an aim to reach out to people and educate them on plight of elephants. 

• The main aim of World Elephant Day is to make people aware of better treatment of captive elephants and against their illegal poaching and trade for ivory. 

International Youth Day 

• International Youth Day is commemorated every year on August 12.  

• This day is observed to draw attention to the issues and challenges that young people around the world face. 

•  These issues can range from mental health to civic responsibility, inclusion to accessibility. 

• The theme for the year 2022 is ‘Intergenerational solidarity Creating a world for all ages’. 

• The day was designated by the United Nations in 1999 and was first observed on 12 August 2000.  

International Left-handers Day 

• International Left-handers Day is celebrated every year on 13 August. 

• It is to recognize the distinctiveness and distinctions of left-handers and to spread awareness of the benefits and drawbacks of having a left hand in a world that is largely right-handed. 

• According to a 2019 Oxford University study, left-handers are likely to have stronger linguistic abilities than their right-handed counterparts. 

• Dean R. Campbell, commemorated the day for the first time in 1976. 

• The Lefthanders International Club was established in 1990 to promote left-handedness and communicate with businesses about the creation of products for left-handed people. 

OBITUTARY 

Journalist and Emmy Award Winner Uma Pemmaraju 

• Indian American Journalist and Emmy Award Winner Uma Pemmaraju Passed away. He was at the age of 64. 

• Pemmaraju was born in Rajahmundry, Andhra Pradesh and grew up in San Antonio, Texas, United States. 

• She was a part of various shows such as The Fox Report, Fox News Live, Fox News Now and Fox On Trends. 

• She served as a reporter for the San Antonio Express-News and taught journalism at Emerson College and Harvard University. 

• She was also awarded The Woman of Achievement Award by the Big Sisters Organization of America.