Daily current affairs 3rd August

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Sidimania

Date

August 3, 2021

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# Insurance act

 

 

  • Lok sabha on monday passed a law to amend the general insurance business act.
  • The general insurance business (nationalisation) amendment bill, 2021 will allow the government to bring down its stake in state owned life insurance corporation.
  • The provisions of bill could not be discussed due to disruptions by the opposition parties.

 

 

 

# Exports

 

 

  • India’s merchandise exports in July were 34% higher than the pre-covid levels of july, 2019 at 35.17 billion dollar.
  • Trade deficit also hit a three month high as gold imports jumped 145.4% from 2019 levels.
  • Indian government is confident of meeting the $400 billion target for the full year.

 

 

 

# India-Australia relations

 

 

  • Former Australian prime minister Tony abbott has arrived in India for trade talks.
  • He is Australian prime minister’s special trade envoy for India.
  • Tony abott will re-engage on the comprehensive economic cooperation agreements(CECA) talks which is also called as free trade agreement.

 

 

 

# e-RUPI

 

 

  • Prime minister Narendra Modi launched e-RUPI, a person and purpose specific cashless digital payment solution.
  • e-RUPI is a cashless and contactless instrument for digital payment.
  • It is a QR code or SMS string based E-voucher, which is delivered to the mobile of the beneficiaries.

 

 

 

# Purchasing managers’ Index

 

 

  • India’s manufacturing sector stopped shedding jobs for the first time in 16 months in July.
  • Manufacturing PMI, which had slipped into a contraction for the first time in 11 months at 48.1 in June.
  • PMI has recovered to 55.3 with a marginal increase in employment last month.

 

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