Top News of the week – Current Affairs from July 29 to Aug 03, 2018 for bank and Government Exams

In this blog, All the Top news of week Top News of the week – Current Affairs from July 29 to Aug 03 for your General Awareness and Current Affairs preparation for Bank and Government exams

1) Niti Aayog CEO Amitabh Kant said the country needs to improve its human development index (HDI) to achieve a growth of around 10 per cent. In the 2016 UN Human Development Report, India had slipped one place to rank 131st among 188 countries in the HDI.

2) Govt. has approved the necessity of the National Advanced Surface-to-Air Missile System-II (NASAMS-II) from the US. The missile shield is designed to track and destroy nuclear missiles both inside (endo) and outside (exo) the earth’s atmosphere

3) Government to introduce first Aadhaar-Enabled Payment System (AePS) in Mee Seva centres. AePS allows the citizens to use Aadhaar as an identity proof to access their bank accounts & withdraw cash through secure authentication through biometrics at Mee Seva centres.

4) India has been designated as a nodal centre for preparing flash-flood forecasts by World Meteorological Organization (WMO). India will have to develop a customised model that can issue advance warning of floods in Vietnam, Sri Lanka, Myanmar and Thailand.

5) According to Moody’s (rating agency) -GST rate cuts will weigh on government’s revenue collection & is ‘credit negative’ as it will put pressure on efforts of fiscal consolidation. Revenue loss estimated to be about 0.04%-0.08% of GDP annually.

6) Bureau of Energy Efficiency (BEE) has come up with India’s first state energy efficiency preparedness index to combat the climate change. The index will help track the progress in managing the energy footprint of states and the country.

7) China has successfully launched an optical remote sensing satellite, as part of its high-resolution Earth observation project which will also provide data for the Belt and Road Initiative. The Gaofen-11 satellite was launched on a Long March 4B.

8) Ministry of Culture has launched the ‘Seva Bhoj Yojana’ on 1 August for FY 2018-19 and 2019-20. The scheme envisages reimbursing the CGST and IGST to lessen the financial burden of Religious Institutions who provide food for free to Devotees.

9) India-origin mathematician Akshay Venkatesh was awarded the prestigious Fields medal. It is referred to as the Nobel prize for mathematics. The Fields medal is awarded once in four years to the most promising mathematicians under the age of 40.

10) DRDO conducted the successful test of the Ballistic Missile Interceptor Advanced Area Defence (AAD) from Abdul Kalam Island, Odisha. It is indigenously developed supersonic interceptor missile, capable of destroying any incoming hostile ballistic missile.

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