current affairs 26 August 2022

India's first observatory to monitor space activity in Uttarakhand.

• The first commercial space situational awareness observatory of India will be set up in the Garhwal region of Uttarakhand by Digantara, a space sector start-up.
• Aim: To track objects as small as 10 cm in size orbiting the earth.
• The space situational awareness (SSA) observatory will help in tracking any activity in space.
• This observatory will strengthen indigenous capabilities of India to monitor space activity over the subcontinent providing a strategic advantage.

Ukrainian President, Zelenskyy to be conferred with Liberty Medal.

• Ukrainian President, Volodymyr Zelenskyy will be conferred with the 2022 Liberty Medal.
• The National Constitution Center has announced that Zelenskyy will be honored in a ceremony in October 2022 for his heroic defense of liberty in the face of Russian tyranny.
• The Liberty Medal was established in 1988 to mark the U.S. Constitution’s bicentennial.
• It is presented to individuals who strive to secure the blessings of liberty for people around the globe.

Tamil Nadu govt launched footwear and leather policy.

• Tamil Nadu government has launched its Footwear & Leather Products Policy 2022 with a vision to transform the State into a favoured destination for footwear and leather products manufacture in Asia.
• This policy will offer a special package for footwear and leather products (FLP) manufacture and incentives for FLP Design Studios.
• The State government has also signed MoUs with five companies - KICL SEMS; Wagon International; KICL; Walkaroo and KICL (footwear cluster)

RBI becomes Net Seller in June 2022 by selling 3.719 billion USD.

• Reserve Bank of India has become the net seller of the US currency in June 2022 after selling USD 3.719 billion on a net basis.
• The central bank has purchased USD 18.96 billion from the spot market and sold USD 22.679 billion.
• In June 2021, RBI was net buyer of the greenback after it purchased USD 18.633 billion on a net basis from the spot market.
• In May 2022, the RBI has net bought USD 2.001 billion (Purchased USD 10.143 billion and sold USD 8.142 billion).

Tripartite MoU signed for swift development of MMLP under Bharatmala.

• National Highways Logistics Management Limited (NHLML) has signed the tripartite agreement with Inland Waterways Authority of India (IWAI), and Rail Vikas Nigam Limited (RVNL).
• Aim: To centralize freight consolidation and reduce logistics costs from 14 % to less than 10 % of GDP at par with International Standards.
• Multi Modal Logistics Parks (MMLP) will ensure that cargo is swapped or shifted from and to Waterways, Dedicated Freight Corridors, and Road Transport.