- Bandhan Bank holding firm sells 20.95% stake to meet RBI norms Bandhan Bank has met the promoter holding norms of the Reserve Bank of India (RBI) after its holding company Bandhan Financial Holdings Ltd (BFHL) sold 95%
stake in the bank to at least seven investors. GIC is an existing shareholder of
Bandhan Bank. Bandhan Bank, CEO Chandra Shekhar Ghosh.
2. BOB Financial Solutions Limited partners Fiserv Technology for Digital Transformation
It will enable the digitization of their end-to-end card issuance and processing cycle and support the unveiling of several new and high-tech products namely contactless credit cards, tokenisation & integration with branded wallets, & virtual credit cards. Shailendra Singh, MD and CEO at BOB Financial Solutions Limited.
3. NPCI launches loyalty platform ‘nth Rewards’
NPCI launched a business intelligence and analytics-enabled omnichannel multi-branded loyalty platform, nth Rewards. It will allow users to earn points through various bank transactions and redeem them on various products, such as e-vouchers. NPCI is an umbrella organization for all retail payment systems.
4. RBI to set up ‘innovation hub’ to promote financial inclusion, efficient
RBI launched ‘Innovation Hub’ for ideation & incubation of new capabilities that can be leveraged to deepen financial inclusion. The hub is being launched to promote start-ups in the country. It will help in ideation and incubation of new capabilities.
Criteria of minimum net worth for Sandbox entities- Rs 25 lakh.
- RBI permits banks to invest in debt instruments through mutual funds RBI has permitted banks to invest in debt instruments through mutual funds or exchange-traded funds without allocating additional charges. This will result in
substantial capital savings for banks & is expected to give a boost to the corporate
bond market. Debt instrument examples-Bond, Commercial Paper, CD, G-Secs.
6. RBI announces loan restructuring window for corporates
MSME borrowers would be eligible for the restructuring of debt if their accounts were classified standard. RBI Governor Shaktikanta Das also raised the Loan to value ratio against gold to 90% from current 75% to mitigate COVID 19 impact on households. RBI was established on 1 April 1935, under the RBI Act, 1934.
7. IBBI amends Insolvency & Bankruptcy Board of India, Liquidation Process, Third Amendment, Regulations, 2020
The Insolvency and Bankruptcy Board of India notified the Insolvency and Bankruptcy Board of India, Liquidation Process, Third Amendment, Regulations, 2020. The Regulations require the committee of creditors to fix the fee payable to the liquidator. IBBI Chairman- M. S. Sahoo, Headquarters- New Delhi.
8. RBI bars banks from opening current accounts for customers having availed cash credit or overdraft facilities
RBI barred banks from opening current accounts for customers who have availed cash credit or overdraft facilities, with a view to improving credit discipline. Rather than opening a new current account, all transactions should be routed through these.
Minimum balance requirement for Current Account- Rs. 10,000.
9. RBI forms five-member committee under KV Kamath, panel to recommend parameters for loan restructuring
The immediate task of the committee is to recommend a list of financial parameters to be factored into the assumptions that go into each resolution plan. Parameters will include aspects related to leverage, liquidity, debt serviceability etc. Indian Banks’ Assoc. CEO Sunil Mehta is secretary to the panel.
10. CDSL gets UIDAI nod for e-KYC Aadhaar authentication
Central Depository Services Ltd has received clearance from UIDAI to carry out e-KYC authentication using Aadhaar & act as a local Authentication User Agency or e-KYC User Agency. Once registered as KUA, they can open accounts using Aadhaar-based e- KYC. CSDL is the first listed Indian securities depository.
11. Exim Bank extends $250 million lines of credit to Mozambique
Export-Import Bank of India has extended a $250-mn. (about ₹1,870 crore) line of credit to Mozambique for improving power supply quality in the country. Exim Bank till date has extended 14 LOCs to Mozambique, taking their total value to $772.44 million. Capital: Maputo; Currency: Mozambican metical.
12. South Indian Bank to set up wholly-owned non-financial subsidiary
South Indian Bank obtained in-principle approval from RBI to set up a non- financial subsidiary. It is a further step in consolidating SIBs position as a Retail Banking Powerhouse. It already centralised all its operations both on liability & asset sides. SIB Head Quarters: Thrissur. CEO: V G Mathew.
13. RBI Board approves transfer of Rs 57,128 crore as surplus to govt
RBI Board approved the transfer of Rs 57,128 crore as surplus to the government for the accounting year 2019-20 while maintaining the Contingency Risk Buffer at 5.5%. This was decided at the 584th meeting of the Central Board of RBI chaired by Governor RBI also discussed the proposal of setting up an Innovation Hub.
14. SBI introduces KCC review feature on YONO Krishi
SBI added a new feature called Kisan Credit Card Review on YONO Krishi to make the lives of farmer customers easier by offering them technology-backed solutions. With this, farmers need not visit a bank branch to apply for a revision in their KCC limit. It is expected to benefit more than 7.5 million farmers.
15. HDFC Bank launches Shaurya KGC card for the armed forces
HDFC Bank has launched the Shaurya KGC card for the armed forces. The product is based on Kisan credit card guidelines by the government and will provide armed forces personnel with finance for agricultural requirements like production of the crop, etc., Aditya Puri – Managing Director of HDFC Bank.
16. Federal Bank chooses Fiserv to support the launch of first independent credit card
Private sector lender Federal Bank has chosen global provider of payments and
financial services technology solutions Fiserv to enable digitisation of the bank’s end- to- card issuance and processing cycle and support the launch of its credit card. Bank will outsource associated operational processes to Fiserv.
17. RBI mandates system-based asset classification for UCBs
In order to improve the efficiency, transparency and integrity of the asset classification process the RBI has mandated urban co-operative banks (UCBs) with assets of ₹2,000 crores or more to implement system-based asset
classification from 30 June 2021. As of March 2019, there were 1, 544 UCBs in India.
18. Core investment companies can have only two layers: RBI
The Reserve Bank of India has mandated the number of layers of Core Investment Companies (CICs) within a group, including the parent, to be not more than two. This is irrespective of the extent of direct or indirect control CIC exercises in another. The report of the working group on CICs was released in Nov 2019.
19. Digital Apnayen: PNB launches campaign to encourage digital banking
PNB launched DIGITAL APNAYEN, to encourage customers to use digital banking channels. The bank will contribute Rs 5 towards PM CARES Fund behalf of each customer making the first transaction to activate RuPay Debit card either on PoS or e-commerce platform. The campaign is valid until March 31, 2021.
20. RBL Bank onboards Accenture for the digital transformation journey
Mumbai based RBL Bank has signed on information technology (IT) services and consultancy firm Accenture for its digital transformation initiatives. Accenture will help RBL bank to upgrade its IT systems to improve operational efficiency. RBL Bank CEO: Vishwavir Ahuja. HQ: Mumbai.
21. Kotak Mahindra Bank goes live with CRMNEXT
Kotak Mahindra Bank has implemented CRMNEXT to enable the bank to deliver end-to-end digital and paperless journeys to serve customers. This new unified digital platform enhances digital capabilities to sell and services customers across any touchpoint. Kotak Mahindra Bank HQ: Mumbai. CEO: Uday Kotak.
22. Lakshmi Vilas Bank launches instant account opening facility
Lakshmi Vilas Bank launched LVB DigiGo, a digital initiative to enable the opening of savings to account instantly to help people to avail the most required banking services through the website. It can be converted to a fully-featured account, upon visiting a branch. S Sundar – interim MD & CEO of LVB. HQ: Chennai.
23. Fino Payments Bank unveils digital savings account
Fino Payments Bank has launched Jan BachatKhata (JBK), an Aadhaar Authentication- based digital savings account bringing neo-banking experience for customers. The primary segment would be low-income household families and beneficiaries of
government’s DBT. Fino Pay Tech HQ: Mumbai. CEO: Rishi Gupta.
- RBI unveils framework for umbrella entity to manage payment systems RBI unveiled the framework to set up a pan-India umbrella entity with a minimum capital of Rs 500 crore, which will set up, manage and operate new payment systems
in the retail payment space & invited applications from eligible companies by Feb 26,
2021. The minimum net worth of Rs 300 crore to be maintained at all times.
25. SBI waives off SMS charges for all savings accounts
SBI has waived off SMS charges in addition to its penalty waiver on non-maintenance of minimum balance for all its Savings Accounts. SBI has over 44 crore savings accounts. It is applicable to all Savings Account with cheque or Internet Banking
facilities. It levied a penalty of ₹ 5 – ₹15 for non-maintenance of balance.
26. Yes Bank unveils ‘loan against securities’
Yes Bank has introduced digital ‘Loan against Securities’, to enable customers to lien mark their mutual funds with KFin Technologies, digitally and avail quick loans. This feature has been introduced under the bank’s ‘Loan in Seconds’ platform. Sreekanth Nadella – CEO of KFin Technologies.
27. Tata Capital launches Swift Insta Personal loan via WhatsApp
Tata Capital, the financial services subsidiary of Tata Group launched of ‘Swift Insta Personal Loan’ (SIPL) on WhatsApp where existing customers can easily apply for loans and receive sanctions for personal loans using the company’s chatbot TIA on WhatsApp. Tata Capital CEO: Rajiv Sabharwal. HQ: Mumbai.
28. RBI unveils 5-year national strategy for financial education
The National Strategy for Financial Education (NSFE): 2020-2025 document, the second one after the 2013-18 NSFE, released by the Reserve Bank of India (RBI)
recommended a ‘5 C’ approach for dissemination of financial education in the country.
The strategy for education to be implemented in the next 5 years.
29. HSBC: first foreign bank in India to launch ‘green deposit’
HSBC, in line with its global offerings, has launched a green deposit programme in India for its corporate clients, thus offering them an avenue to support eco-friendly projects. The money collected will finance green initiatives such as renewable energy. Recently, HSBC financed a 250 MW wind power project at Kutch.
- Unitus Ventures secures investment of Rs 75 crore from SIDBI bank Unitus Ventures has secured an investment of Rs 75 crore (USD 10 million) under SIDBI’s Fund of Funds for Start-ups initiative. Funds received from SIDBI will
strengthen the deployment of Unitus’ second fund that was launched in 2018. Small
Industrial Development Bank of India HQ: Lucknow.
31. NABARD launches credit guarantee programme for NBFC-MFIs
NABARD introduced dedicated debt & credit guarantee product to ensure the flow of credit. Product Structured Finance & Partial Guarantee Programme to NBFC- MFIs provides partial guarantee on pooled loans extended to small & mid-sized microfinance institutions. NABARD Chairman: Govinda Rajulu Chintala.
32. India and AIIB sign USD 500 million loan agreement for Mumbai Urban Transport Project-III
Centre, Maharashtra Government, Mumbai Railway Vikas Corporation and the AIIB signed a loan agreement for $ 500 million Mumbai Urban Transport Project-III to improve the network capacity, service quality and safety of the suburban railway system in Mumbai. A loan from AIIB has 5 year grace period & maturity of 30 years.
33. Paytm Payments Bank enables banking services through Aadhaar cards
Paytm Payments Bank (PPBL) enabled banking services through Aadhaar by integrating with AePS. Customers can access to basic banking services such as cash withdrawal, balance enquiry, etc., via business correspondent of any banking & financial institution. AePS: Aadhaar enabled Payment System.
34. India’s overall growth projected at minus 4.5% for 2020-21: RBI
The Reserve Bank of India (RBI) said on its 2019-20 annual report, wherein it has stated that India’s growth is projected at minus 4.5 percent for 2020-21. It expected headline inflation to remain elevated in Q2:2020-21. Reserve Bank of India, Headquarters- Mumbai.
35. RBI announces OMO of govt securities worth ₹20,000 crore
The Reserve Bank of India (RBI) has announced open market operations or OMO of government securities for an aggregate amount of ₹20,000 crores in two tranches of
₹10,000 crores each. The auction to take place in two tranches of ₹ 10,000 crores
each. OMO tries to regulate the money supply in the economy.
36. HDFC Bank partners with Adobe to enhance personalised customer experience
Adobe experience manager forms will allow HDFC Bank to provide personalized online experiences to its existing & new customers and platforms like data management in Adobe audience manager will aid the lender to develop a deeper understanding of customers. Adobe Inc. CEO, Shantanu Narayen.
37. ICICI Bank introduces use of satellite data to assess farm loans ICICI Bank became first in India and among few globally to use satellite
data-imagery from Earth observation satellites to assess the creditworthiness
of farmers. ICICI was first to introduce Internet & mobile banking, 24*7 touch banking branches, etc., ICICI Bank CEO: Sandeep Bakhshi. HQ: Mumbai.
38. RBI launches surveys on consumer confidence, inflation expectations
RBI is conducting the Consumer Confidence Survey & Inflation Expectations Survey of Households. CCS seeks “qualitative responses” from households, regarding their sentiments on the general economic situation & IESH aims to capture assessment on inflation CCS & IESH is conducted in 13 & 18 Indian cities respectively
39. State Bank of India and Bank of Baroda have the biggest share of Jan Dhan outstanding
SBI has seen a 12.2% rise in outstanding Jan Dhan balance in the first four-and-a-half months, while BoB’s outstanding rose 12.9% in the same period in such accounts, more than the industry average. Banks have opened around 40 crore Jan Dhan accounts in 5 yrs. Jan Dhan Yojana was launched in 2014.
1. ₹ 87,422 crore gross GST revenue collected in July
Gross GST revenue collected in July 2020 is ₹ 87,422 cr. of which CGST-₹ 16,147cr., SGST is ₹ 21,418 Cr, IGST-₹ 42,592 cr. (including ₹ 20,324 cr. collected on import of goods) and Cess -₹7,265 crore (including ₹ 807cr. collected on import of goods).
Goods and Services Tax (GST) is an indirect tax.
2. PM Modi releases the sixth instalment of Rs 17,100 crore under PM-KISAN scheme
Under the 6th instalment of PM-Kisan scheme, ₹17,000 crores of PM-Kisan Samman Nidhi has been deposited into bank accounts of 8.5 crore farmers with a single click. Under PM-KISAN scheme, the government is providing annually ₹6,000 in 3 equal instalments. PM-KISAN scheme was launched on 1st December 2018.
3. PM Narendra Modi Launches ₹ 1 Lakh Crore Agriculture Infrastructure Fund
PM Modi launched a financing facility of ₹1 lakh crore under Agriculture Infrastructure Fund for agri-entrepreneurs, agri-tech players & farmer groups for nurturing farm assets & post-harvest management. The amount will be made available over a period of 4 yrs. Farmers will also receive a subsidy of 3 per cent on interest.
4. Retail inflation rose to 6.93% in July
Retail inflation rose to 6.93% in July mainly on account of higher prices of food items. The food inflation, according to Consumer Price Index data, increased to 9.62% in July. The retail inflation in June was 6.23% while the food inflation stood at 8.72%.
CPI is published by the Central Statistical Office (CSO).
- World Bank sees higher GDP fall in India than 3.2% it projected for FY21 In its report on India Development Update, 2020, World Bank said it was likely to project a steeper contraction in India’s economy than the 3.2 per cent it had forecast
for the current financial year, given the rising number of Covid-19 cases & lockdowns.
The revised projections will be made available in October 2020.
1. Parliamentary panel suggests welfare fund, the national database for migrant workers
All labour laws have been subsumed into four Codes: The Code on Wages, 2019; The Occupational Health, Safety and Working Conditions Code, 2019; The Industrial Relations Code, 2019; and The Code on Social Security, 2019. The committee headed by: BJD MP Bhartruhari Mahtab.
2. Northern Railway runs first-ever Vyapar Mala Express train
Northern Railway ran first-ever Vyapar Mala Express train to help small traders in moving their cargo via Railways in a short time, cost-effective, convenient & environment-friendly mode of transportation. Railways earned more than ₹ 94 Lakhs from this. It will cover a distance of 2,673 km from Punjab to Tripura.
3. Dr Harsh Vardhan launches ‘Vidyarthi Vigyan Manthan 2020-21
Health Minister Dr Harsh Vardhan launched Vidyarthi Vigyan Manthan 2020-21 which is a national programme for popularizing science among students of Class 6th to 11th. It was designed to identify bright minds with a scientific attitude among the students. He represents Chandni Chowk in Delhi as an MP.
4. Nitin Gadkari inaugurated the upstream carriageway of Mahatma Gandhi bridge
Minister for Road Transport Nitin Gadkari inaugurated the Mahatma Gandhi bridge over river Ganga through video conference. This over 5.5 km four-lane bridge lies at NH-19 between Patna and Hajipur. It is being constructed at a cost of Rs 1742 crore. Chief Minister of Bihar: Nitish Kumar.
5. Narendra Singh Tomar releases booklet on Best Practices in Digital India Land Records Modernization Programme
Union Minister of Rural Development Narendra Singh Tomar released a booklet on “BestPractices in Digital India Land Records Modernization Programme (DILRMP)” of Department of Land Resources based on the presentations made since the inception of the programme. It discusses mechanisms adopted by states for land management.
6. Amit Shah inaugurates international webinar on ‘Lokmanya Tilak – Swaraj to Self-reliant India’ organized by ICCR
Home Minister Amit Shah inaugurated 2-day international webinar on the theme ‘Lokmanya Tilak – Swaraj to Self-reliant India’ organized by Indian Council for Cultural Relations on 100th death anniversary of the freedom fighter Lokmanya Bal Gangadhar Tilak. Tilak gave the slogan “Swaraj is my birthright and I shall have it”.
7. Central Government to fund 112 startups to promote Agri Firms
Central Govt to spend nearly Rs 12 crore for funding 112 start-ups to promote Agri firms in the current FY. It is to be given to the start-ups selected by different knowledge partners &agribusiness incubators in agro-processing, food tech & value addition. Startups to be trained at 29 agri-business incubation centres.
8. Sanjay Dhotre inaugurates BHARAT AIRFIBER , a last-mile telecom connectivity solution based on Radio Network
Union Minister of State for HRD, Electronics, Communication, and IT, inaugurated “Bharat Air Fibre Services” at Akola in Maharashtra. With the launch of Wireless Bharat
Air Fibre, more connections will be provided on demand in a very quick time. BSNL Chairman and Managing Director, PK Purwar.
9. Ministry of Tourism holds its 44th webinar on “Heritage Tourism in Gujarat” under Dekho Apna Desh series
The state encompasses some sites of the ancient Indus Valley Civilisation, such as Lothal, Dholavira and GolaDhoro. Lothal is believed to be one of the world’s first seaports. Gujarat’s coastal cities, chiefly Bharuch and Khambhat, served as ports. The walled city of Ahmedabad was founded by Sultan Ahmad Shah.
10. IFSCA constitutes panel for development of international retail business in IFSC
The committee will recommend a roadmap for the future growth of international retail business in IFSC. The committee, headed by Indasia Fund Advisors Pvt Ltd Chairman Pradip Shah, may invite industry experts as special invitees on need basis. International Financial Services Centre Authority (IFSCA).
11. PM Modi inaugurates Rashtriya Swachhata Kendra in Delhi’s Raj Ghat
PM Modi inaugurated the Rashtriya Swachhata Kendra, an interactive experience centre on Swachh Bharat Mission & “Gandagi Mukt Bharat” (dirt-free India) campaign on the occasion of centenary celebrations of Gandhiji’s Champaran Satyagraha, at Raj Ghat. Raj Ghat is the memorial of Mahatma Gandhi.
12. India to put import embargo on 101 defence items: Atma Nirbhar Bharat Initiative
Defence Ministry to introduce import embargo on 101 items to boost indigenisation of defence production. Govt intends to reach a turnover of $25 billion through indigenously manufactured defence products and expects to export products worth $5 billion. Minister of State for Defence: Subhash Ramrao Bhamre.
- PM Modi to launch submarine cable connectivity for Andaman & Nicobar PM Modi to inaugurate the submarine Optical Fibre Cable (OFC) connecting Chennai and Port Blair. The submarine cable will also connect Port Blair to Swaraj Dweep
(Havelock), Little Andaman, Car Nicobar, Kamorta, Great Nicobar, Long Island, and
Rangat. Port Blair is the capital of Andaman & Nicobar Islands.
- Centre Constitutes Panel to fix ceiling rates under RoDTEP scheme The Central Board of Indirect Taxes and Customs (CBIC) has constituted a three-member committee to determine the ceiling rates for reimbursement of taxes and
duties to exporters under the Remission of Duties and Taxes on Export Products
(RoDTEP) scheme. Chairman of the committee: G K Pillai, Former Home Secretary.
15. PM Modi inaugurates Rashtriya Swachhata Kendra
Prime Minister Narendra Modi inaugurated the ‘Rashtriya Swachhata
Kendra’(RSK), an interactive experience centre on the Swachh Bharat Mission, in New Delhi. The prime minister announced a week-long campaign from August 8 to 15 to free India of garbage. RSK was first announced by PM in 2017.
16. Finance Minister launches an online dashboard for National Infrastructure Pipeline
Fin Min Nirmala Sitharaman inaugurated National Infrastructure Pipeline (NIP) Online Dashboard. It will be a one-stop solution for all stakeholders looking for information on infrastructure projects in India. It is being hosted on the India Investment Grid NIP includes economic and social infrastructural projects.
17. Education Minister launches Minimum Standards of Architectural Education Regulations, 2020
Union Education Minister launched the “Minimum Standards of Architectural Education Regulations, 2020”. It has been prepared by the experts of the Council of Architecture (CoA) to address major concerns in the human habitat and built environment in India. Union Education Minister: Ramesh Pokhriyal Nishank.
- Narendra Singh Tomar launches ICAR’s data recovery centre ‘Krishi Megh’ Agriculture Minister Tomar launched ICAR’s data recovery centre – Krishi Megh. It is aimed at protecting the data of Indian Council of Agricultural Research. It has been
set up at National Academy of Agricultural Research Management (NAARM) in
Hyderabad. It is seen as a step towards Digital Agriculture.
19. NTPC Group achieves 100 BU power generation mark
State-run power giant NTPC has achieved 100 billion units (BU) of cumulative power generation mark during the ongoing fiscal. NTPC Group has a total installed capacity of
62.9 GW. 2600 MW NTPC Korba plant emerged as the top-performing thermal power plant. Korba Thermal Power Station is located in Chhattisgarh.
20. PM Modi to launch platform for Transparent Taxation ‘Honouring the Honest’
Prime Minister Narendra Modi to launch the platform for “Transparent Taxation – Honouring the Honest” via video conferencing. This is to strengthen the efforts of reforming and simplifying the tax system. It aims to benefit several honest taxpayers. Department of Revenue works under the Ministry of Finance.
21. Govt allows registration of Electric Vehicles(EVs) without pre-fitted batteries
In order to bring down prices and increase adoption of EVs, Road Transport and Highways Ministry has allowed registration of electric vehicles without pre-fitted batteries. Battery, a key component in an EV constitutes 30-40% of the total cost of the vehicle. Union Minister for Road & Transport: Nitin Gadkari.
22. Centre Forms Committee For Procurement, Administration Of COVID-19 Vaccine
Centre constituted a committee to consider logistics, ethical aspects of procurement, & administration of COVID-19 vaccine. The committee, National Expert Group on Vaccine Administration is formed under the chairmanship of Dr VK Paul, member of NITI Aayog. Union Health Secretary: Rajesh Bhushan.
- Tribal Affairs Ministry develops nine ‘Tribal Freedom Fighters’ Museums Tribal Affairs Ministry is developing “Tribal Freedom Fighters’ Museums dedicated to the contributions of the tribal people in India to the freedom struggle. Out of the nine,
two are under near completion. All museums to come into existence by 2022. Tribal
Affairs Minister: Arjun Munda. MoS: Renuka Singh Saruta.
24. Rajnath Singh launches Naval Innovation and Indigenisation Organisation
Defence Minister launched Naval Innovation and Indigenisation Organisation (NIIO). It puts in place dedicated structures for the end-users to interact with academia and industry towards fostering innovation and indigenisation for self-reliance in defence. The NIIO is a three-tiered organisation.
- Indian Coast Guard Offshore Patrol Vessel (OPV) ‘Sarthak’ launched An offshore patrol vessel for Indian Coast Guard was launched and rechristened as ‘Sarthak’. It is the 4th in the series of five OPVs deployed by the Coast Guard to enhance maritime security. The launching ceremony was held at Goa Shipyard. Director General Indian Coast Guard: K Natarajan. HQ: New Delhi.
- Finance Minister holds 3rd review meeting of CPSEs on CAPEX Sitharaman met with secretaries of ministries of defence, shipping, road transport, housing & urban affairs & the dept of telecommunications, along with the heads of
some PSUs under these ministries to review the capital expenditure in this financial
year. CAPEX target for FY 2020-21 for these 7 CPSEs is Rs. 124825 cr.
27. PM Modi launches National Digital Health Mission; Every Indian to have Health IDs
At a time when India is battling a pandemic, PM Modi has launched the National Digital Health Mission, to revolutionize the health sector, in his address on India’s 74th Independence Day. Under this, every Indian would receive a unique health identity card. All the health details will be registered in this health card.
28. Ministry of Social Justice and Empowerment launches ‘Nasha-Mukt Bharat’ campaign in J&K
With an aim to curb the menace of Drug Addiction in the society Directorate of Social Welfare launched ‘Nasha-Mukt Bharat’- Drug-free India campaign of the Ministry of Social Justice and Empowerment, in the Union Territory of Jammu and Kashmir. It is being run in 272 districts of India & 10 districts of J&K.
29. All villages to be connected with optical fibre in next 1,000 days
PM Modi in his address on the Independence Day said that in the coming one thousand days, every village in the country will be connected with Optical Fibre Cable (OFC). He also announced a new policy on cybersecurity to be unveiled shortly. Connectivity via submarine OFC to be launched in Lakshadweep.
30. Indian Railways constructing world’s tallest pier bridge across river Ijai
Indian Railways’ North East Frontier Railway zone has constructed the world’s tallest pier bridge in the North-Eastern state of Manipur to provide connectivity. It is constructed across river Ijai near Noney. Its tallest pier height will be of 141 meters.
The total length of the bridge will be 703 meters.
- The government aims to create five crore jobs in MSME sector: Nitin Gadkari Speaking at SWAVALAMBAN E-Summit 2020 organised by ‘Lets Endorse Development’ NGO in Delhi, MSME Minister said that govt will increase MSME exports to 60% from
48% & create 5 crore jobs in the next 5 years. According to him, 11 crore jobs were
created so far. Minister of MSME: Nitin Jairam Gadkari.
32. NTPC develops infrastructure at Rihand project for increased use of fly ash
To transport fly ash to cement plants located at distance, National Thermal Power Corporation developed infrastructure at Rihand project in Uttar Pradesh. This project is in line with NTPC’s commitment towards 100% utilisation of fly ash from power plants. Rihand Power Station is located in Sonbhadra district of UP.
33. Railways to deploy ‘Ninja UAVs’ for surveillance
Indian Railways is deploying Ninja UAVs for establishing a drone-based surveillance system in a bid to intensify its security mechanism across its network. NINJA UAVs are lightweight and economical micro contraptions built for mapping and surveillance. UAV stands for Unmanned Aerial Vehicle.
34. National Recruitment Agency gets Cabinet’s nod. Common Eligibility Test for govt jobs, PSBs
Union Cabinet approved a proposal to set up National Recruitment Agency that will conduct Common Eligibility Test (CET) for selection to non-gazetted posts in the central government and public sector banks. It aims to benefit job seeking youth in India. The scores obtained will be valid for three years.
35. Govt launches Swadeshi Microprocessor Challenge
Electronics Minister launched Swadeshi Microprocessor Challenge – Innovate Solutions for Atma-Nirbhar Bharat. IIT Madras and Centre for Development of Advanced Computing developed two microprocessors named SHAKTI and VEGA resp using Open Source Architecture Union Electronics and IT Minister: Ravi Shankar Prasad.
36. Harsh Vardhan launches interactive first-of-its-kind video game ‘Corona Fighters’ to spread awareness
Harsh Vardhan launched the first-of-its-kind game on COVID-19, Corona Fighters. It presents a new & creative way to teach people the right tools and behaviours to fight Covid-19. He launched two new videos urging adherence to key COVID Appropriate behaviours. Game is designed to influence payers’ actions in the real world.
- Arjun Munda virtually launches ‘TRIFOOD’ Project in Raigad, Jagdalpur Arjun Munda launched the tertiary processing centres under ‘TRIFOOD’ project at Raigad and Jagdalpur. It aims at enhancing the income of Tribals through better
utilization & value addition to the Minor Forest Produces collected by tribal forest
gatherers. TRIFOOD is being implemented by TRIFED.
38. Central Government constitutes National Council for Transgender Persons
Under section 16 of Transgender Persons (Protection of Rights) Act 2019, National Council for Transgender Persons is constituted. Social Justice and Empowerment Minister to be the ex-officio Chairperson & Minister of State to be ex-officio Vice-Chairperson. MoSJE Minister: Thaawarchand Gehlot. MoS: Krishan Pal Gurjar.
39. Govt announces Tax exemptions for businesses with an annual turnover of up to Rs 40 lakh
According to the Ministry of Finance businesses with an annual turnover of up to Rs 40 Lakh are GST exempt. Initially, this limit was Rs 20 Lakh. Additionally, those with a turnover up to Rs 1.5 crore can opt for the Composition Scheme and pay only 1% tax. GST which subsumed 17 local levies was rolled out on July 1 ‘17.
40. India’s longest river ropeway connecting Guwahati and North Guwahati over Brahmaputra river inaugurated
India’s longest river ropeway connecting north and south banks of Brahmaputra river was inaugurated in Guwahati. The 2-km long ropeway built at a cost of Rs 56 crore is for the first time ropeway towers were made deep inside the bed of India’s major river. The travel time b/w both banks to be reduced to just 8 minutes.
41. Government launches ‘Open API Service’ in Aarogya Setu app
The team handling Aarogya Setu has introduced Open API Service to help the people, businesses and the economy to return to normalcy. This can be availed by organisations and business entities, who are