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IAF, Indian Navy conduct Passage Exercise with the US Navy in IORi.On June 23-24, 2021, Indian Air Force (IAF) and Indian Navy participated in the two days Passage Exercise (PASSEX) with the United States (US) Navy during its asset transit through Indian Ocean Region (IOR).
ii.India was represented by Indian Naval Ship (INS) Kochi and INS Teg along with P8I and MiG 29K aircraft.
iii.US was represented by the Carrier Strike Group (CSG) comprising Nimitz class aircraft carrier Ronald Reagan, Arleigh Burke class guided missile destroyer USS (United States Ship) Halsey and Ticonderoga class guided missile cruiser USS Shiloh.
About United States:
Capital– Washington, D.C.
Currency– United States Dollar
President– Joseph Robinette Biden Jr.
Indian Ambassador to US– Taranjit Singh Sandhu
>>Read Full News
Narendra Singh Tomar addressed 3rd CII Northern Region Food Processing Summit 2021 virtuallyOn June 24, 2021, the 3rd edition of the Northern Region Food Processing Summit 2021 was virtually organized by the Confederation of Indian Industry (CII). It was addressed by Union Minister Narendra Singh Tomar, Ministry of Food Processing Industries (MoFPI).
i.Government has launched a new production-linked incentive (PLI) scheme for the food processing industry, under which Rs 11,000 crore will be spent. It was launched as a part of the self-reliant India campaign.
ii.Centre has asked CII to conduct a comparative study on the available foodgrains and horticulture resources with their processing level. This study will aid the Centre in preparing strategy to fill the gaps.
iii.Emphasis was laid on the collaboration of government and industry in the area of fortification of processed food.
Point to be noted:
i.In 2020-21, MoFPI launched the Prime Minister formalization of Micro Food Processing Enterprises (PMFME) scheme with a total outlay of Rs 10,000 crore under Atmanirbhar Bharat Abhiyan for a period of 5 years i.e. till 2024-25. It aims to enhance the competitiveness of existing individual micro-enterprises in the unorganized sector.
About Confederation of Indian Industry (CII):
Establishment– 1895 as Engineering and Iron Trades Association (EITA)
Director General– Chandrajit Banerjee
Headquarter– New Delhi
Goa Becomes First Rabies-Free State in IndiaGoa Chief Minister Pramod Sawant announced that Goa became the First Rabies-Free State in India as it has not reported a single rabies case in the last three years.
i.A central government grant project, “Mission Rabies” played a major role in control of rabies
ii.Goa has vaccinated 5,40,593 dogs against the rabies and educated nearly a lakh people in dog bite prevention across Goa.
iii.It has also set up an emergency hotline for 24-hours rabies surveillance and a rapid response team for dog bite victims.
Governor: Bhagat Singh Koshyari
Chief Minister: Pramod Sawant
44th Annual General Meeting 2021 of Reliance Industries held virtuallyThe 44th Annual General Meeting (AGM) 2021 of Reliance Industries Ltd (RIL), India’s largest company by market capitalization was conducted virtually.
i.During the event, RIL made several key announcements they are:
- RIL to invest INR 75,000 in Clean Energy Business
- Reliance Jio to partner with Google Cloud to launch 5G services in India
- Chairman of Saudi Aramco Yasir Al-Rumayyan to join RIL Board as Independent Director
- RIL is set to invest in setting up India’s 1st Carbon Fibre manufacturing unit
Highlights of the 44th AGM 2021
i.The consolidated revenue of RIL during FY 2020-21 was INR 5,40,000 crore.
ii.Consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) stood at INR 90,000 crore.
iii.Overall growth in net profits was recorded at INR 53,739 crore, which is an 34.8% increase compared to 2019-20.
About Reliance Industries Ltd (RIL)
CMD – Mukesh D. Ambani
Founder – Dhirubhai Ambani
Headquarters – Mumbai, Maharashtra
>>Read Full News
PM Modi virtually interacts with participants of Toycathon 2021Prime Minister Narendra Modi virtually interacted with the participants of the Toy Hackathon – ‘Toycathon 2021’, launched in January 2021, it is the 1st of its kind initiative in India which aims to crowd-source innovative toys and games ideas which are based on India’s culture, civilization, history, mythology and ethos.
i.i.Toycathon 2021 received 17000 ideas, out of which 1567 ideas were shortlisted for the Toycathon Grand Finale
ii.The Grand Finale of Toycathon 2021 was virtually inaugurated by Union Minister for Women and Child Development Smriti Irani & Minister of State for Education Sanjay Dhotre. It was held from June 22-24, 2021.
It is an inter-ministerial challenge organized by the Ministry of Education’s Innovation Cell with support from All India Council for Technical Education (AICTE), Ministry of Women and Child Development (WCD Ministry), Department for Promotion of Industry and Internal Trade (DPIIT) under Ministry of Commerce and Industry, Ministry of Micro, Small & Medium Enterprises (MSME), Ministry of Textiles and Ministry of Information and Broadcasting.
The Indian toy market is valued at around USD 1.5 billion USD, while the Global toy market is estimated to be more than USD 100 billion. This means that India has only 1.5% of the global market.
- India imports 80% of its toys. This hackathon aims to make India Atma Nirbhar in the Toy sector and also make it a hub for the global toy manufacturing industry.
Over 19,300 children suffered of grave violations in 2020: UN ReportAccording to the ‘Annual report of the Secretary-General on Children and Armed Conflict (CAAC)’ released by Office of the UN Special Representative of the Secretary-General for Children and Armed Conflict (SRSG CAAC)- More than 19,300 boys and girls affected by war in 2020 were victims of grave violations like abduction, recruitment or sexual violence.
- Around 26, 425 grave violations were committed against children in 2020, which included attacks on schools and hospitals.
- The Grave violations against children in conflict remained ‘alarmingly high’. The report further states that one in four children affected by grave violations were girls.
- The report is titled ‘A Stolen Childhood and a Future to Repair: Vulnerability of Girls & Boys in Armed Conflict Exacerbated by COVID-19 Pandemic’.
Note – The Office of the UN Special Representative of the Secretary-General for Children and Armed Conflict (OSRSG CAAC) serves to protect the rights of children affected by war.
About Office of the UN Special Representative for Children and Armed Conflict (SRSG CAAC)
Special Representative – Virginia Gamba de Potgieter
Established – December, 1996
>>Read Full News
275mn People used Drugs Worldwide in 2020: UNODC Reporti.On June 24, 2021, the United Nations Office on Drugs and Crime’s (UNODC) released a World Drug Report 2021 which states that around 275 million people used drugs worldwide in 2020 of which 36.3 million people or 13% suffered from drug use disorders.
ii.The report referred a term drug as a substance controlled under international drug control conventions, and their non-medical use.
iii.Opioids contribute to the largest burden of disease due to drug use.
About United Nations Office on Drugs and Crime (UNODC):
Executive Director– Ghada Fathi Waly
Headquarter– Vienna, Austria
>>Read Full News
NSA Ajit Doval attends 16th Meeting of Security Council Secretaries of SCOIndia’s National Security Advisor (NSA) attended the 16th meeting of Security Council Secretaries of Shanghai Cooperation Organisation (SCO) held at Dushanbe, Capital of Tajikistan. The meeting was held from June 23-24, 2021 and was chaired by Tajikistan (Chairmanship of SCO in 2021).
- National Security officials of the 8 member nations of SCO attended the meeting.
- The National Security officials discussed key regional security issues and also about the current situation in Afghanistan.
i.India proposed an action plan against Pakistan-based Terrorist groups as part of the SCO Framework.
ii.NSA Doval urged the member states to look at the possibility of signing an Memorandum of Understanding (MoU) with the Financial Action Task Force (FATF) to counter terror financing.
iii.On the sidelines of the SCO meeting, NSA Ajit Doval held a meeting with Nikolai Patrushev, Secretary of the Security Council of Russia. They exchanged views on the situation in Afghanistan, and the Asia-Pacific region.
Shanghai Cooperation Organisation (SCO)
It is a Eurasian political, economic, and security alliance that was established in 2001 in Shanghai, China. India & Pakistan joined SCO in 2017.
About Shanghai Cooperation Organisation (SCO)
Secretary-General – Vladimir Norov
Headquarters – Beijing, China
Chairmanship of 2021 – Tajikistan
>>Read Full News
QS EMBA Rankings 2021: IIM Bangalore Ranked Best in India
The Post Graduate Programme in Enterprise Management (PGPEM) of the Indian Institute of Management Bangalore (IIMB) ranked the best in India in the ‘QS Executive MBA Rankings 2021’ of Quacquarelli Symonds(QS).
i.Globally, it holds 39th spot, became the only Indian institute to feature in the list of the top 100. In the Asia-Pacific category, IIMB holds the 10th spot, leading the B-school brigade from India.
ii.The QS EMBA Rankings’ evaluation considers – career outcomes, diversity, employer reputation, executive profile, and thought leadership. In the 2021 edition, 176 global EMBA programmes from all over the world were evaluated.
iii.IIM Bangalore secured the top rank in India with a score of 61.8 and it has been ranked in the top 22.2 percent of universities worldwide.
iv.Globally, France’s HEC Paris tops the rankings and the Wharton School has claimed the 2nd position while Spain’s IESE Business School stands at 3rd place.
Note-While employer reputation carries a weightage of 30 percent, thought leadership and executive profile hold 25 percent and 15 percent, respectively.Career outcomes and diversity hold the rest 20 percent and 10 percent, respectively.
About Indian Institute of Management Bangalore (IIMB):
It is a leading graduate school of management in Asia. Under the IIM Act of 2017, IIMB is an Institute of National Importance.
Director – Rishikesha T Krishnan
About Quacquarelli Symonds(QS) Limited:
QS publishes the annual publication of university rankings, the QS World University Rankings, it was inaugurated in 2004.
Headquarters – London, United Kingdom
BANKING & FINANCE
RBI Issued Norms for Dividend Distribution by NBFCsOn June 24, 2021, the Reserve Bank of India (RBI) linked the declaration of dividend by non-banking finance companies (NBFCs) to their minimum prudential norms on Capital to Risk-Weighted Assets Ratio (CRAR) and Non-Performing Assets (NPAs).
- In order to infuse greater transparency and uniformity in the payout practice, RBI has issued guidelines on the distribution of dividend by NBFCs to be effective from the profits of FY22 and onwards.
What is Dividend?
It is the sum of money distributed by a company, to its shareholders, out of the profits made by it, in proportion to the amount paid- upon each share held by them. It will be declared by the Board of Directors(BoD) of the company.
RBI’s Guidelines for NBFCs’ Declaration of Dividend:
Eligibility criteria: RBI has stated the minimum prudential requirements to be eligible to declare dividend as follows.
|Deposit-taking NBFCs (other than standalone primary dealers(SPDs)) should have a CRAR (consisting of Tier-I and Tier-II capital) of at least 15 percent for the last 3 years, including the accounting year for which it proposes to declare a dividend.|
|SPDs should have maintained a minimum CRAR of 20 percent for the FY for which a dividend is proposed.|
|It should be less than 6 percent in each of the last 3 years, including the accounting year for which it proposes to declare a dividend.|
About Reserve Bank of India(RBI):
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra
Governor – Shaktikanta Das
Deputy Governors – Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeshwar Rao, T. Rabi Sankar
>>Read Full News
India’s Bank Credit-to-GDP Ratio Increased to 56.075% in 2020, but still behind Peers: BIS As per the data of the Bank for International Settlements (BIS), the bank credit-to-GDP ratio of India in 2020 rose to a 5-year high of about 56.075 percent (whereas in 2016 the ratio was at 59 percent)
- The incremental credit growth in FY21 was about 5.56 percent (at Rs 109.51 lakh crore), which was the lowest recorded growth in 59 years (whereas in FY 1962 it was at 5.38 percent), in FY20, credit growth was at a 58-year-low at 6.14 percent.
- The total outstanding bank credit in 2020 stood at $1.52 trillion.
Improvement and Comparison:
i.Improvement: The country’s bank credit-to-GDP ratio was improved to 56.075% in 2020, from 52.7 percent in 2019, 52.4 percent in 2018, 53.6 percent in 2017. In 2016 it was about 59 percent and 64.8 percent (the five-year best) in 2015.
- Even Though India’s bank credit-to-GDP 2020 ratio rose to a 5-year high, it is still the second-lowest among all its Asian peers, just half of the G20 economies’ ratio, and much lower than emerging and advanced economies’ ratio of 135.5 percent and 88.7 percent.
- The ratio of other 4 BRICS (Brazil, Russia, India, China, and South Africa) members are China-161.75 percent, Russia-88.12 percent, Brazil-50.8 percent, and South Africa at a low 40.1 percent.
About Bank for International Settlements (BIS):
It is an international financial institution owned by central banks, it fosters international monetary and financial cooperation, and serves as a bank for central banks. The Reserve Bank of India is also a member of BIS.
Establishment – 1930
Headquarters – Basel, Switzerland
Chairman – Jens Weidmann (Germany)
Members – 63 central banks and monetary authorities
>>Read Full News
Aarogyam Healthcare Business Loan Launched By SBIThe country’s largest lender, State Bank of India (SBI) launched “Aarogyam Healthcare Business Loan”, for the healthcare sector to extend loan support in view of the novel coronavirus pandemic.
i.Loans up to Rs.100 crore, can be availed by the entire healthcare ecosystem and are repayable in 10 years.
- Loans up to Rs.100 crore can be availed in metro centres
- Loans up to Rs.20 crore can be availed in tier I & urban centres and
- Loans up to Rs.10 crore can be availed in tier II to tier VI centres.
ii.The new loans may be availed by way of Cash Credit, Term loan, bank guarantee, letter of credit.
iii.Collateral or security is not required to be offered to Banks for loan of up to Rs.2 crore as this will be covered under the guarantee scheme of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
About State Bank of India(SBI):
Establishment – 1st July 1955
Chairman – Dinesh Kumar Khara
Headquarters – Mumbai, Maharashtra
Tagline – The Banker to Every Indian
Clovia Partners with Alliance Insurance Launched Insurance Policy – ‘Women’s Cancer Shield’Clovia, a Women’s personal care brand, in partnership with Alliance Insurance, launched a 1st of its kind tailor-made insurance policy, named ‘Women’s cancer shield’ for breast cancer female patients.
- Objective: To reinforce awareness for breast cancer.
- Under the partnership, Alliance Insurance acts as an insurance partner and facilitates the breast cancer insurance policy, while Clovia acts as a medium to make the insurance reach the consumers through its platform.
Benefits of the Insurance Policy:
i.On a purchase of a certain value from Clovia’s website, it will provide insurance policy cover of Rs 25,000 to female customers in the age group of 18-65 years.
ii.The policy could be claimed in case of being diagnosed with breast cancer (it is not applicable for pre-existing treatments).
iii.Tenure: 1 year with a waiting period of 90 days is mandated as tenure to use the policy.
iv.Alliance Insurance targets to reach out to 5 lakh women in the next 3 months.
Note – In India, every 4 minutes, a woman is diagnosed with breast cancer and it is accounting for 14 percent of cancers in Indian women.
About Alliance Insurance:
Establishment – 2003
Headquarters – Mumbai, Maharashtra
CEO & Principal Officer – S. V. Thakkar
World Bank Approved $125 Million Program to Support Kerala
The World Bank Board of Executive Directors has approved a $125 million program under the ‘Resilient Kerala Program’ to support Kerala’s preparedness against natural disasters, climate change impacts, and COVID-19.
- Resilient Kerala Program is a part of a programmatic series of World Bank-financed operations in the state.
- At the heavy monsoons of 2018, One-sixth of the state’s population – about 5.4 million people – were affected while 1.4 million were displaced, especially in the Pamba River Basin.
Resilient Kerala Program:
i.Focus: The program plans to incorporate disaster risk planning into the plans of urban and local self-government to ease the financial constraints on the state government over unexpected shocks and aims to make the health, water resources management, agriculture, and road sectors to be more resilient to calamities.
iii.It will establish a debt management unit in the Department of Finance to support the state’s efforts to scale down its debt-to-GSDP ratio to a sustainable trajectory.
iv.It will set up an Integrated Agricultural Management Information System for precision farming and will upgrade 400 km of the core road network through output- and performance-based road maintenance contracts.
v.It will strengthen the River Basin Conservation and Management Authority (RBCMA) to regulate the state’s water resources and ensure its sustainable management, allocation, and utilization.
Other Initiatives of World Bank:
i.World Bank approved the ‘First Resilient Kerala Development Policy Operation (DPO)’ costing US$ 250 million in June 2019 for Kerala to undertake several initiatives.
ii.The program helped the state draft the River Basin Conservation and Management Act and set up an RBCMA. It also laid the foundations for a 5-year State Partnership Framework.
Note – The program ends on June 30, 2021.
About World Bank:
Headquarters – Washington DC, USA
Member countries – 189
President – David R. Malpass (13th President)
Country Director of India– Junaid Ahmad
ECONOMY & BUSINESS
India Attracts FDI Inflow of USD 6.24 Billion During April 2021
The Ministry of Commerce and Industry on June 23, 2021 notified that, India has attracted a total Foreign Direct Investment (FDI) inflow of USD 6.24 billion during April 2021 which is 38 % higher FDI inflow as compared to April, 2020.
- Mauritius is the top investing country with 24 per cent of the FDI Equity inflows, followed by Singapore with 21 percent and Japan with 11 per cent.
- The top sector during April, 2021 is the Computer Software and Hardware sector with around 24 percent share of the total FDI Equity inflow followed by Services Sector with 23 per cent and Education Sector with 8 per cent.
- In case of states, Karnataka is the top recipient state during April, 2021 with 31 percent share of the total FDI Equity inflows, followed by Maharashtra with 19 percent and Delhi with 15 percent.
India’s ER&D Market to Reach USD 63 Bn By 2025: Nasscom
According to Industry body Nasscom, India’s share in the global engineering and research and development (ER&D) market will reach USD 63 billion by 2025.
- India’s share in the global ER&D market is expected to grow at a compound annual growth rate (CAGR) of 12-13 percent to reach USD 63 billion by 2025 from USD 31 billion in 2019.
- This growth is being driven by global enterprises who are tapping into Indian ER&D’s ability to power innovation, drive high impact service delivery by leveraging the think force of the future.
APPOINTMENTS & RESIGNATIONS
IFSCA formed Panel to Examine Best Practices in Ship Financing, Leasing; Chaired by Vandana AggarwalInternational Financial Services Centres Authority (IFSCA) has constituted a committee under the chairmanship of Vandana Aggarwal, former Senior Economic Advisor, Government of India, to examine global best practices in ship financing and leasing, identify opportunities and devise a roadmap to enable such activities from GIFT (Gujarat International Finance Tec) International Financial Services Centres (IFSC).
- The committee includes representatives from the central government, Gujarat Maritime Board and industry experts with domain knowledge.
- The committee will examine the existing legal, regulatory, tax and other applicable frameworks, identify the restrictions related to ship financing and leasing, and recommend specific measures regarding them to IFSCA.
- The committee is mandated to submit its recommendations to IFSCA within 3 months.
- IFSCA aims to make GIFT IFSC an international hub for Ship Financing & Leasing activities by providing an enabling regulatory framework and facilitative environment.
About International Financial Services Centres Authority (IFSCA):
Establishment – April 27, 2020, under IFSCA Act, 2019
Headquarters – GIFT City, Gandhinagar, Gujarat
Chairperson – Injeti Srinivas
>>Read Full News
SCIENCE & TECHNOLOGY
DRDO successfully test-fires Nuclear capable cruise missile ‘Nirbhay’Defence Research and Development Organisation (DRDO) successfully test-fired the nuclear capable subsonic cruise missile ‘Nirbhay’ from the Integrated Test Range (ITR) at Chandipur, Odisha. It is India’s 1st indigenously developed cruise missile.
- ‘Nirbhay’ is designed and developed in India by the Aeronautical Development Establishment (ADE) which comes under DRDO.
- The Missile has a range of 1000 kms and is capable of reaching speeds of 0.6 – 0.7 Mach.
- It is capable of carrying multiple payloads and can engage several targets in a single flight.
- It can be launched from all 3 platforms – Land, Sea & Air.
About Defence Research and Development Organisation (DRDO)
Chairman – Dr G Satheesh Reddy
Headquarters – New Delhi
>>Read Full News
World’s First Genetically Modified Rubber Planted in AssamWorld’s first genetically modified (GM) rubber sapling was planted at the Rubber board’s Sarutari research farm on the outskirts of Guwahati, Assam.
- It is developed by the Kerala-based Rubber Research Institute of India (RRII), under the Rubber Board through long years of research in its Biotechnology laboratory.
- The Rubber Board chairman and executive director KN Raghavan planted the sapling.
iThe GM rubber plant, the first of its kind developed exclusively for the northeast, is expected to thrive in the climatic conditions of the region.
ii.The GM rubber plant is inserted with additional copies of the gene MnSOD (manganese-containing superoxide dismutase) to tide over the severe cold conditions during winter which is a major factor affecting the growth of young rubber plants.
Chief minister: Himanta Biswa Sarma
Governor: Jagdish Mukhi
Euphlyctis Kerala: New Species of Skittering Frog Discovered Around Thattekkad Bird SanctuaryA team of researchers from the Zoological Survey of India (ZSI), Mount Carmel College(MCC) – Bengaluru, and National Institute of Science Education and Research (NISER), Bhubaneswar discovered Euphlyctis Kerala, a new species of genus Euphlyctis
(skittering frog) from the surroundings of the Thattekkad Bird Sanctuary, Kothamangalam, Kerala.
- The research findings of the Euphlyctis Kerala are published in the International journal Zootaxa, published from New Zealand.
- The new species, Euphlyctis Kerala, is named in honour of the exceptional biodiversity of Kerala.
About Euphlyctis Kerala:
i.Euphlyctis Kerala is discovered within the water bodies around the foothills of the Western Ghats, south of Palakkad Gap.
ii.At present, there are more than 180 species of frogs endemic to Kerala.
The species of genus Euphlyctis is distributed across the Arabian Peninsula, Pakistan, India, Nepal, Sri Lanka, Myanmar and Thailand.
About the Discovery:
i.The study is a part of the “Integrative Taxonomic Approach(ITA)” in which scientists utilise the morphological characters, genetic studies and other parameters to support their findings of the new species.
ii.The discovery is a part of the ZSI’s (Western Ghat Regional Centre(WGRC) at Kozhikode) Faunal exploratory and documentation programme in Thattekad bird sanctuary.
Day of the Seafarer 2021 – 25th JuneThe United Nations(UN)’s Day of the Seafarer is annually observed across the globe on 25th June to recognise the contribution of the seafarers towards the global trade and economy. Objective – The Day aims to create awareness and educate the public about the danger faced by seafarers during sea travel.
The day is celebrated by the International Maritime Organisation(IMO), a specialised agency of the UN responsible for regulating shipping.
i.The Day of the Seafarer was established by the resolution adopted by the Conference of Parties to the International Convention on Standards of Training, Certification and Watchkeeping for Seafarers (STCW), 1978, held in June 2010, in Manila, Philippines.
ii.The establishment of the Day of the Seafarer was proposed by the International Maritime Organisation(IMO) in 2010.
About International Maritime Organisation(IMO):
The IMO was established as Inter-Governmental Maritime Consultative Organization, or IMCO and was renamed as International Maritime Organisation(IMO) in 1982.
Secretary-General– Kitack Lim (Republic of Korea)
Headquarters– London, United Kingdom
Established in 1948
>>Read Full News
World Vitiligo Day 2021 – 25th June The World Vitiligo Day(WVD) also known as the Vitiligo Awareness Day is annually observed across the globe on 25th June to create awareness about Vitiligo, a rare skin disease that affects around 1 to 2 % of the global population. The day also marks the death anniversary of American singer Michael Jackson, “King of Pop”, who was also diagnosed with vitiligo. Michael Jackson passed away on 25th June 2009.
The year 2021 marks the observance of the 11th WVD.
- Every year the WVD is hosted by a different city and the 2021 World Vitiligo Day is hosted by Jakarta, Indonesia which will act as the 2021 Campaign headquarters.
- The official theme of World Vitiligo Day 2021 is “Embracing Life with Vitiligo”.
i.The day was created by Ogo Maduewesi, Founder and President of Vitiligo Support and Awareness Foundation (VITSAF) at Victoria Island in Lagos, Nigeria.
ii.The day was initially called “Purple Fun Day”.
iii.The first World Vitiligo Day was held on 25th June 2011.
About Vitiligo Support and Awareness Foundation (VITSAF):
Founder & Executive Director– Ogo Maduewesi
Headquarters- Lagos, Nigeria
>>Read Full News
Maharashtra signs MoU with UK Government to strengthen startup ecosystemThe Maharashtra State Innovation Society (MSInS) has signed a Memorandum of Understanding (MoU) with Foreign and Commonwealth Development Office (FCDO), Government of United Kingdom (UK) under their ‘ACT4Green’ programme.
Objective – To strengthen the Clean Energy & Green Energy Tech Start-up ecosystem in Maharashtra.
- The MoU will strengthen the existing startup ecosystem by accelerating technological innovations which address urgent climate change challenges and use the potential of emerging technologies to drive sustainable economic growth in both countries.
- The MoU was signed by Deependra Singh Kushwah, CEO of MSInS and Karen KcLuskie, Deputy Director of FCDO, UK Government in a virtual ceremony.
- The ‘ACT4Green’ programme aims to enable the Indian and UK start-ups to expand internally by providing market entry support in their respective cross-border markets of interest.
About Maharashtra State Innovation Society (MSInS)
CEO – Deependra Singh Kushwah
Office – Mumbai, Maharashtra
About Foreign and Commonwealth Development Office (FCDO), UK
Chair of the Board – Foreign Secretary of UK (Dominic Raab)
Headquarters – London, UK
>>Read Full News
Triton Electric Vehicle to Set Up Rs 2,100 Crore Manufacturing Facility In Telangana
US-based electric vehicles major Triton Electric Vehicle Pvt. Ltd has entered into a Memorandum of Understanding (MoU) with the Telangana government for setting up of a manufacturing unit for electric vehicles in Zaheerabad,Telangana.
i.The MoU was signed by Principal Secretary for IT and Industry, Jayesh Ranjan and Triton Electric Vehicle Founder and CEO Himanshu B. Patel.
ii.Triton Electric Vehicle Pvt. Ltd will invest Rs.2100 crore for the manufacturing of 50,000 vehicles over the first five years, including semi-trucks,sedans,luxury SUVs and rickshaws.
iii.Also the Project will employ more than 25,000 persons.
iv.The land for the project will be provided by theTelangana State Industrial Investment Corporation (TSIIC) at NIMZ(national investment & manufacturing zone) Zaheerabad.
Governor: Tamilisai Soundararajan
Chief minister: K. Chandrashekar Rao
Current Affairs Today (AffairsCloud Today)
|S.no||Current Affairs 26 June 2021|
|1||IAF, Indian Navy conduct Passage Exercise with the US Navy in IOR|
|2||Narendra Singh Tomar addressed 3rd CII Northern Region Food Processing Summit 2021 virtually|
|3||Goa is first rabies-free state in the country: CM|
|4||44th Annual General Meeting 2021 of Reliance Industries held virtually|
|5||PM Modi virtually interacts with participants of Toycathon 2021|
|6||Over 19,300 children suffered of grave violations in 2020: UN Report|
|7||275mn People used Drugs Worldwide in 2020: UNODC Report|
|8||NSA Ajit Doval attends 16th Meeting of Security Council Secretaries of SCO|
|9||QS EMBA Rankings 2021: IIM Bangalore ranked best in India|
|10||RBI Issued Norms for Dividend Distribution by NBFCs|
|11||India’s Bank Credit-to-GDP Ratio Increased to 56.075% in 2020, but still behind Peers: BIS|
|12||Aarogyam Healthcare Business Loan Launched By SBI|
|13||Clovia Partners with Alliance Insurance Launched Insurance Policy – ‘Women’s Cancer Shield’|
|14||World Bank Approves $125 Million Program to Support a Green and Resilient Kerala|
|15||India Attracts FDI Inflow of USD 6.24 Billion During April 2021|
|16||India’s ER&D Market to Reach USD 63 Bn By 2025: Nasscom|
|17||IFSCA formed Panel to Examine Best Practices in Ship Financing, Leasing; Chaired by Vandana Aggarwal|
|18||DRDO successfully test-fires Nuclear capable cruise missile ‘Nirbhay’|
|19||World’s First Genetically Modified Rubber Planted in Assam|
|20||Euphlyctis Kerala: New Species of Skittering Frog Discovered Around Thattekkad Bird Sanctuary|
|21||Day of the Seafarer 2021 – 25th June|
|22||World Vitiligo Day 2021 – 25th June|
|23||Maharashtra signs MoU with UK Government to strengthen startup ecosystem|
|24||Triton Electric Vehicle to Set Up Rs 2,100 Crore Manufacturing Facility In Telangana|