1. DRDO successfully test fired QRSAM Missile

• The Defence Research Development Organisation (DRDO) successfully test-fired an indigenously developed Quick Reaction Surface to Air Missile (QRSAM) from a mobile truck-based launch unit from the Integrated Test Range (ITR) in Chandipur, Odisha.
• It is an all-weather and all-terrain missile type.QRSAM missile has been developed for the Army.
• The entire mission was tracked by various electro-optical tracking systems, radar systems and telemetry systems.

Foot Notes:
About QRSAM

1. Operational range: 30 km
2. Designer: DRDO
3. Manufacturer: BEL and BDL
4. Place of origin: India

About DRDO

1. Headquarters: New Delhi
2. Motto: बलस्य मूलं विज्ञानम्; "Strength's Origin is in Science" (Sanskrit)
3. Founded: 1958
4. Minister responsible: Rajnath Singh, Minister of Defence
5. Agency executive: Dr G. Satheesh Reddy

2. Gujarat government launched Vhali Dikri Yojna

• Gujarat Chief Minister Vijay Rupani launched the ‘Vhali Dikri Yojna’ from his hometown Rajkot, Gujarat. The scheme is introduced for the welfare of the girl child.
• The meaning of this scheme is Dear Daughter Scheme. The main details about this scheme is stated before. Vahali Dikri Yojana is launched to improve the sex ratio of girl child in the State. The successful implementation of this scheme State government allocated a budget of Rs 133 Crore.
• According to the scheme State Government will pay Rs. 4,000 to every girl child at the time of admission to Standard 4th, Rs. 6,000. There will be a time of taking admission to Standard IX, Rs. 1-lakh at the time of taking admission for higher education at the age of 18 at the time of marriage. It is a statewide cash incentive scheme for every girl child born in Gujarat.

1. Capital: Gandhinagar
2. Chief minister: Vijay Rupani
3. Governor: Acharya Dev Vrat

• K Sivan, chairman, Isro, laid the foundation stone for Space Situational Awareness Control Centre at Peenya in Bengaluru.
• Isro has set up a directorate of space situational awareness and management aiming at protecting high valued space assets from space debris close approaches and collisions. The control centre would facilitate the intensified activities foreseen for SSAM, in view of increasing debris population and operational space assets.
• The control centre would host a range of activities pertaining to the protection of Indian space assets from inactive satellites, pieces of orbiting objects, near-earth asteroids and adverse space weather conditions.

1. Headquarters: Bengaluru
2. Founder: Vikram Sarabhai
3. Founded: 15 August 1969
4. Director: Kailasavadivoo Sivan

4. Hoverboard inventor Franky zapata crosses English Channel in his second attempt

• 40 year old Jet powered hoverboard inventor and former jet ski champion Franky zapata of France, crossed the English Channel for the first time within 10days after his first failed attempt.
• He Started his 22 mile journey at 715 am from Sangatte, Northern France and landed at Saint Margaret’s bay in Dover in around 25 minutes.Franky zapataPrevious attemptFranky Zapata made his first attempt to cross the English Channel on 25th July but failed as he fell into the water half-way when he tried to land on a boat for refuelling.
• Mr. Zapata received widespread attention following the annual Bastille Day parade in Paris on 14th July, as he took part in a military display on his futuristic flyboard(hoverboard).The attempt took place exactly 110 years since Louis Blériot made the first powered flight across the Channel in 1909.

Foot Notes:
About Hoverboard

1. It is half the size of a skateboard and has 5 small jet engines It is fuelled by kerosene and is kept in the backpack of the rider.

About English Channel

1. It is also called as channel. It is the busiestshipping areas in the world and it separates Southern England from Northern France and link the southern part of the North Sea to the Atlantic Ocean.
2. The first person to cross the English Channel by swimming was Captain Matthew Webb in 1875 (in 21hours 45min).Location- between Celtic sea and North Sea.

5. Reserve Bank tightens fit and proper guidelines for the position of elected directors on the board of PSBs

• To keep out political appointees, the Reserve Bankof India (RBI) has released a new master direction called ‘Fit and Proper’ Criteria for Elected Directors on the Boards of PSBs(Public Sector Banks)) Directions, 2019 to determine ‘fit and proper’ status of person to be eligible to be elected as a director . These Directions are applicable to all PSBs &separate norms for private banks and Non-Banking Financial Companies (NBFCs) will be issued soon.

Fit and proper direction 2019:
1.NRC: RBI requires all PSBs (State Bank of India and nationalized banks) to have a nomination and remuneration committee (NRC) with at least three non-executive directors(half should be independent and include at least one member from the risk management committee)from amongst the board of directors.
Directors nominated by the Government under Section 19(f) of the SBI Act/Section 9(3)(c) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980 should not be part of the Committee.

2.Eligibility: The new rule requires that the candidate (He/She), who wants to become an elected director should at least be a graduate aged between 35-67 years with the special knowledge or practical experience in areas of banks. He/she should not be a member of Parliament, state legislature, municipal corporation, municipality, or other local bodies can hold office for three years and eligible for re-election & Maximum tenure for them pegged at six years whether served continuously/intermittently.
Shareholders of PSBs allowed electing 2-3 directors, depending on the level of public shareholding.

3.Omission: The new rules bar the person, who is board members of the RBI or any bank, financial institution, insurance company or bank holding company. candidates who are in line with the business of stock broking hire purchasing, financing, money lending, investment, leasing or para banking activity are also exempted.

Foot Notes:
About RBI:

1. Governor: Shaktikanta Das
2. Headquarters: Mumbai
3. Founded: 1 April 1935

6. Walmart tops Euromonitor’s 2019 list of India’s top retailers

• As per the latest report “Top 100 Retailers in Asia 2019” by market research firm, Euromonitor International, Walmart Inc which acquired Flipkart in 2018($16 Bn deal) has topped the rankings in India for 2018 with Gross Merchandise Volume(GMV) of $14. 49 Bn. Amazon(US) came on the second spot with $9.8 Bn GMV followed by Mumbai based retail company Future Group with $3.8Bn GMV(3rd position) and Reliance Group(4th  position ) with $3.6 Bn GMV.
• The Indian list also includes Tata Group(5th) &One 97 Communications’  e-commerce unit, Paytm Mall(6th).For the list of the top 100 retailers in the whole Asian region, Alibaba Group Holding Ltd (China)was ranked first.
• The report stated that behavioural change in urban households which adopt more modern lifestyles and shopping at large branded retail outlets impacts retailing in the country.

Foot Notes:
About Walmart:

1. Headquarters: Bentonville, U.S
2. President and CEO, Walmart: Doug McMillon
3. Chairman: Greg Penner

About Euromonitor International:

1. Founded: 1972
2. Headquarters: London
3. CEO: Tim Kitchin

7. Noel Quinn named as the new HSBC’s interim CEO

• HSBC bank announced that the Chief Executive Officer (CEO) of HSBC John Flint steps down from his post after 1.5years and is to be replaced by NoelQuinn, head of HSBC’s global commercial banking unit, as the new interim CEO.
• Chairman of HSBC Mark Tucker informed that this replacement of a new CEO was needed for a change to meet the challenges
• The lender bank also announced buyback of $1 Billion.

Foot Notes:
About HSBC

1. HSBC was ranked 7th largest bank in the world in 2018 and the largest in Europe.
2. Headquarters- London, UK.

8. Google backed firm -Fynd’s majority stake acquired by  Reliance industries

• 7 year old Mumbai startup Fynd, which is a Google backed firm that connects retailers with online stores and consumers, is now acquired by Reliance industries.
• Fynd’s majority stake acquired by Reliance industries The acquisition announcement was made by Fynd’s co-founder Harsh Shah.Reliance industries will now be owning 87.6% stake in Fynd.
• The acquisition has been made at a cost of 2.95 Billion Indian rupees( $42.33 million).

Foot Notes:
About Reliance Industries ltd

1. CEO- Mukesh Ambani
2. Founder- Dhirubhai Ambani.
3. Headquarters- Mumbai.

9. Veteran Gujarati journalist Kanti Bhatt passed away in Mumbai

• On August 4, 2019, Veteran Gujarati journalist, author and columnist Kanti Bhatt, aged 88, passed away in Mumbai, Maharashtra after a long illness.Kanti Bhatti. Born on July 15, 1931 in Sachra village in erstwhile Bhavnagar state of Gujarat, he had joined journalism in 1966 in Mumbai.
• He worked as a journalist, writer, columnist and editor in various Gujarati publications like Chitralekha, Mumbai Samachar, Janshakti, Sandesh, Yuva Darshan, Jansatta, Vyapar and Abhiyan.

10. Veteran cricket commentator of All India Radio, Anant Setalvad passed away

• Long term member in Cricket Club of India and veteran cricket commentator, Anant Setalvad from Mumbai, passed away at the age of 84 due to old age ailments. He is survived by his two sons.
• He was a cricket commentator for All India Radio (AIR) in Ranji Trophy, BCCI (Board of Control for Cricket in India) tournaments and also for some test matches from the mid 1960s to 1980s.He shared the mike with former test opener and ex-selection panel Chief Vijay Merchant on AIR
• His last rites would take place at Worli crematorium,Mumbai.

Foot Notes:
About AIR

1. Founded- 1930
2. Motto- Bahujanahitaya Bahujanahitaya
3. Owner- Prasar Bharati
4. Headquarters- New Delhi.