Retail inflation surges up to 7% in August 2022.

  • According to the new data, the Retail inflation has been increased up to 7% in August 2022 from 6.71% in July 2022.
  • Reason: Due to higher food prices
  • This award has been given at a global award ceremony organised by UNESCO in Côte d’Ivoire on 8 September 2022.
  • The consumer price index (CPI)-based inflation is above the Reserve Bank’s decided level of 6% for the eighth month in a row.
  • The inflation in food basket was 7.62% in August 2022, was up from 6.69% in July and 3.11% in August 2021.
  • RBI has maintained its inflation forecast for 2022-23 at 6.7%.

Sikkim to host Ranji Trophy matches for the first time.

  • Sikkim will host Ranji trophy matches for the first time in December 2022 at the Mining Cricket Ground near Rangpo.
  • The state will welcome three northeast teams i.e. Mizoram, Manipur and Arunachal Pradesh.
  • The decision was taken by BCCI, that will act as a game-changer in cricket’s promotion in Sikkim.
  • Along with Ranji Trophy matches, Sikkim will also play two Cooch Behar Trophy matches, and three Col CK Nayudu Trophy matches at Mining Cricket Ground.

RBI sells $13 billion in August to hold rupee at 80.

  • The Reserve Bank of India is estimated to have sold about $13 billion in the spot market in August 2022.
  • Reason: To defend the rupee from falling further against the US dollar.
  • A majority of India's foreign exchange reserves is held in US dollar-denominated currency while the rest comes from investment in non-dollar assets.
  • This is the highest monthly currency market intervention so far in 2022-23 as the central bank is said to be defending the psychological mark of 80.

MeitY Startup Hub joins hands with Meta to support XR technology startups.

  • Ministry of Electronics and Information Technology (MeitY) Startup Hub has collaborated with Meta to launch a programme to support and accelerate XR technology startups across India.
  • The programme was launched by the Minister of State for Electronics and Information Technology, Rajeev Chandrasekhar.
  • The MeitY Startup Hub is a national platform that focuses on promoting technology innovation, start-ups, and the creation of intellectual properties.

HDFC Bank issues first Electronic Bank Guarantee of India.

  • HDFC Bank has become the first bank in India to issue an Electronic Bank Guarantee (e-BG) in partnership with National E-Governance Services Limited (NeSL).
  • The new e-BG will eliminate the paper based and time-consuming process.
  • It can be processed, stamped, verified and delivered instantly with enhanced security.
  • HDFC Bank will migrate to eBG platform completely in order to expedite the issuance of BGs for customers.
  • MD & CEO of NeSL: Debajyoti Ray Chaudhuri.

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