- National:
- Postal Life Insurance (PLI) has launched a new initiative called “Direct Incentive Disbursement” for its sales force. This feature will allow agents to receive their commissions from the previous month directly into their Post Office Savings Bank Accounts.
- On the occasion of the 9th National Handloom Day, Indian Prime Minister Narendra Modi launched the e-portal ‘Bhartiya Vastra evam Shilpa Kosh - A Repository of Textiles & Crafts’ developed by the National Institute of Fashion Technology (NIFT) at Bharat Mandapam, Pragati Maidan, Delhi.
- The United Services Institution of India (USI), CSC-e-Governance India Limited, and PCTI have signed a Memorandum of Understanding (MoU) to promote military heritage tourism in India. The MoU between the United Services Institution of India (USI), CSC-e-Governance India Limited, and PCTI was signed on August 5, 2023
- India has committed USD 700,000 in funding support from its UN Development Partnership (UNDP) funds for clean water initiatives and community development in schools of the Pacific island nation of Tuvalu
- Paytm Founder and CEO Vijay Shekhar Sharma has entered into an agreement with Antfin (Netherlands) Holding BV to purchase a 10.30% stake in the company through his 100% owned overseas entity – Resilient Asset Management B.V.
- A SpaceX Falcon 9 rocket launched from Cape Canaveral on Sunday, carrying 22 more second-generation Starlink satellites into orbit and breaking a launch pad turnaround record. The booster, making its fourth flight, lifted off from Space Launch Complex 40 at 10:41 p.m. EDT (0241 UTC).
- The Union Education Minister, Dharmendra Pradhan, recently released the first ‘State of Elementary Education in Rural India’ report. The report is based on data accumulated from 6,229 rural households across 20 states and focused on children in rural communities between the age of 6 to 16 years.
- The Union government has sought applications from eligible candidates for the post of Chief Information Commissioner in the Central Information Commission (CIC). The current head, Y K Sinha, is due to complete his tenure in early October.
- The Ministry of Electronics & Information Technology (MeitY) launched the Indian Web Browser Development Challenge (IWBDC) on August 9, 2023. The purpose of the challenge is to develop an indigenous Web Browser for the World.
- Banking:
- The Competition Commission of India (CCI) has approved the proposed acquisition of HDFC Credila Financial Services by a private equity consortium of BPEA EQT and ChrysCapital. The buyers are Kopvoorn, part of the BPEA EQT group, and three ChrysCapital group entities – Moss Investments, Infinity Partners and Defati Investments Holding
- The Competition Commission of India (CCI) has approved the merger of Tata Cleantech Capital and Tata Capital Financial Services into Tata Capital Ltd. The proposed combination is a merger of Tata Capital Financial Services Ltd (TCFSL) and Tata Cleantech Capital Ltd (TCCL) into Tata Capital Ltd (TCL).
- Exim Bank has launched its subsidiary, India Exim Finserve, in GIFT City, Gujarat. The company will provide a range of services for Indian exporters, focusing on export factoring with a combination of receivables financing, accounts receivable servicing, and coverage of non-payment risks
- Proxgy, an innovative Indian Industrial Internet of Things startup, has recently announced the launch of its ‘Make in India’ pocket sound box named AudioCube Mini.
- Obituary:
- William Friedkin, the Oscar-winning director of ‘The French Connection’ and ‘The Exorcist’, passed away in Los Angeles on Monday, August 7, 2023. He was 87 years old. Friedkin was one of the most influential and innovative filmmakers of his generation.
- World:
- China has recently drafted rules for the use of facial recognition technology. According to the Cyberspace Administration of China (CAC), facial recognition technology can only be used to process facial information when there is a specific purpose and sufficient necessity, and with strict protective measures
- Eight Amazon nations have agreed to a list of unified environmental policies and measures to bolster regional cooperation. Delegates from the countries met in the Brazilian city of Belém for a two-day summit on the issue.
- Important Days:
- Quit India Movement Day is observed annually on August 8th. In 2023, it will be observed on Tuesday, August 8th. The Quit India Movement, also known as the August Movement or Bharat Chodo Andolan, was a significant civil disobedience movement launched by Mahatma Gandhi and the Indian National Congress on August 8, 1942.
- Sports:
- The Indian under-31 bridge team won a bronze medal in the 18th World Youth Teams Bridge Championships held in Veldhoven, the Netherlands. The team was represented by Sagnik Roy, Sayantan Kushari, Souvik Kar, Pritam Das, Wrik Chakraborty and Swarnashish Chatterjee.
- India ended its World University Games (WUG) campaign on Tuesday with its best-ever performance, winning a record haul of 26 medals, including 11 gold. India finished at seventh spot with 11 gold, 5 silver and 10 bronze, the best ever standing in the medal tally.
- Kuldeep Yadav, the Indian leg spinner, has become the fastest Indian bowler to complete 50 wickets in T20 Internationals. He achieved this feat during the third match of the five-match series against the West Indies at Providence Stadium in Guyana on Tuesday.
- Appointments:
- Cambodia’s King Norodom Sihamoni has appointed former Prime minister Hun Sen’s son – Hun Manet- as the new prime minister of the country. A royal decree was issued today by the King stating that he appoints Dr. Hun Manet as the prime minister of the Kingdom of Cambodia for the 7th mandate of the parliament.
- The government has given a one-year post-retirement extension to Indian Oil Corporation (IOC) chairman Shrikant Madhav Vaidya.
- Price Waterhouse Chartered Accountants LLP (PwC) has resigned as the statutory auditor of Paytm Payments Services Ltd (PPSL) with effect from August 7, 2023. The reason for the resignation is due to changes in auditors at the holding company level.
