Current Affairs 4 August 2022

We are here for you to provide the important Recent and Latest  Current Affairs 4 August  2022, which have unique updates of Latest Current Affairs 2022 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

MoWCD Issues Guidelines of ‘Saksham Anganwadi and Poshan 2.0′

The Ministry of Women and Child Development (MoWCD) has issued Operational Guidelines for the implementation of “Saksham Anganwadi and Poshan 2.0” (POSHAN 2.0).
The Government of India (GoI) has authorized the plan for implementation during the 15th Finance Commission period, which runs from 2021–2022 to 2025–2026.
POSHAN 2.0
The Supplementary Nutrition Programme under Anganwadi Services, the Scheme for Adolescent Girls, and Poshan Abhiyaan have been integrated under POSHAN 2.0 as an Integrated Nutrition Support Programme.
Poshan 2.0 shall focus on Maternal Nutrition, Infant and Young Child Feeding Norms, Treatment Protocols for Severely Acute Malnourished (SAM)/ Moderately Acute Malnourished (MAM) and Wellness through AYUSH practices.
Key Highlights of the Guidelines
i. The Anganwadi Services Scheme is offered to all eligible beneficiaries on demand, regardless of caste, religion, or income criteria.

• The only requirement is that the beneficiary be registered at the nearest Anganwadi Centre with Aadhaar identification.

About Ministry of Women and Child Development (MoWCD):
Union Minister – Smriti Zubin Irani (Amethi Constituency, Uttar Pradesh)
Minister of State (MoS) – Dr. Munjpara Mahendrabhai Kalubhai
>> Read Full News

Indian Oil signs MoU with NTCA for Transcontinental Relocation of Cheetah in its Historical Range in India

On August 2, 2022, Indian Oil Corporation Limited(IOCL) signed a Memorandum of Understanding (MoU) with National Tiger Conservation Authority (NTCA) for transcontinental relocation of ‘Cheetah’ in its historical range in India.

• This MoU is in continuation with the MoU signed on July 20, 2022 between India and Namibia on wildlife conservation and sustainable biodiversity utilization, for establishing the cheetah into the historical range in India.

Signatories:
The MoU was signed by Shrikant M. Vaidya, Chairman, Indian Oil and Dr S P Yadav, Addl. Director General (Project Tiger) and Member Secretary (NTCA) in the presence of Union Minister Hardeep Singh Puri, Ministry of Housing & Urban Affairs (MoHUA); among others.
Key Points:
i.Under the project, 8-10 Cheetahs will be flown in from Namibia and South Africa and will be introduced at Kuno National Park, Madhya Pradesh. It is a national project involving NTCA, Govt. of India and the State Government of Madhya Pradesh (MP).
ii.NTCA is the nodal agency authorized by the Ministry of Environment, Forest and Climate Change (MoEF&CC) for funding, supervision and hand holding.
Indian Oil will contribute its CSR funds to NTCA, which will co-ordinate with MP and other agencies involved in the project.
iii.Indian Oil is contributing Rs 50.22 crore in 4 years for the project components viz. Cheetah Introduction, its Habitat Management & Protection, Eco Development, Staff Training and Veterinary Healthcare.
iv.Indian Oil is the first corporate which is supporting the “Project Cheetah” under Corporate Social Responsibility (CSR).
v.Notably, Indian Oil adopted Indian Single Horned Rhino as its mascot in 2021 and has been at the forefront of India’s Rhino conservation endeavours.
About ‘Project Cheetah’:
It is one-of-a-kind projects in which a species is being restored in the country by bringing it from South Africa / Namibia. It is noteworthy that the subspecies of Cheetah which got extinct in India was Asiatic Cheetah (Acinonyx jubatus venaticus) and the subspecies being introduced back in the country is African Cheetah (Acinonyx jubatus jubatus).

• The Cheetah introduction project in Kuno National Park involves creating a 500-hectare predator proof enclosure for a ‘soft release’ of the feline.

About National Tiger Conservation Authority (NTCA):
It has been constituted under section 38 L (1) of Wildlife (Protection) Act, 1972.
Chairperson– Bhupender Yadav (Minister of Environment, Forest & Climate Change)
Headquarters– New Delhi, Delhi

GoI Formulates NAMASTE Scheme for Cleaning of Sewers, Septic Tank

The Government of India (GoI) has developed a National Action Plan for Mechanized Sanitation Ecosystem – NAMASTE scheme to achieve zero sanitation fatalities in India and to ensure that all sanitation work is undertaken by skilled workers.

• The NAMASTE scheme is a joint venture of the Department of Drinking Water and Sanitation, the Ministry of Social Justice and Empowerment (MoSJE) and the Ministry of Housing and Urban Affairs (MoHUA).

i. The “NAMASTE” roadmap has been approved by the Standing Finance Committee (SFC), which is chaired by Secretary for Social Justice and Empowerment R. Subrahmanyam.
ii.It will be implemented from 2022 to 2026 in 500 cities and townships that have already been notified under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT), which aims to provide basic quality of life services to cities.
iii. According to the Supreme Court’s judgement from its ruling in Civil Writ Petition No. 583 of 2003 on March 27, 2014, the State Governments have been required to compensate the families of people who have died while cleaning sewers/septic tanks since 1993 with a sum of Rs. 10 lakh each.
About Ministry of Social Justice and Empowerment (MoSJE):
Union Minister – Dr. Virendra Kumar (Tikamgarh Constituency, Madhya Pradesh)
Minister of State (MoS) – Ramdas Athawale (Rajya Sabha – Maharashtra);
>> Read Full News

BANKING & FINANCE

RBI’s Financial Inclusion Index rose to 56.4 in March 2022The Reserve Bank of India’s (RBI) financial inclusion (FI) index increased to 56.4 in March 2022 showing growth across all parameters. The index was 53.9 in March 2021.
About FI index:
Published annually in July, FI index shows the extent of financial inclusion across India by incorporating details of banking, investments, insurance, postal, and pension sector in consultation with the government and respective sectoral regulators.

• It does not have any base year.
• It comprises three broad parameters: Access, with a weightage of 35%; Usage with 45% weightage; and Quality with 20% weightage. It comprises 97 indicators.

i.The index captures information on various aspects of financial inclusion in a single value ranging between 0 and 100, where 0 represents complete financial exclusion and 100 indicates full financial inclusion.
ii.A unique feature of the Index is the Quality parameter which captures the quality aspect of financial inclusion through financial literacy, consumer protection, and inequalities and deficiencies in services.

GST E-Invoicing Mandatory for Entities with Rs.10 Crore Turnover from October 1, 2022

The Government of India (GoI) has made E-invoicing (electronic billing) mandatory for businesses with an aggregate turnover over Rs.10 crore from October 1, 2022, in an effort to further prevent revenue leakage and ensure improved tax compliance from businesses. Currently, businesses with turnover of Rs.20 crore and above are required to generate an electronic invoice for all Business to Business(B2B) transactions.

• By decreasing the required turnover level under the Goods and Services Tax (GST) regime from Rs 20 crore to Rs 10 crore, the government has expanded the scope of electronic invoicing for enterprises.
• The government plans to make GST e-invoicing mandatory for companies with a turnover of Rs 10 crore and then Rs 5 crore in the current financial year.
• In accordance with the GST Council’s recommendation, the Central Board of Indirect Taxes and Customs (CBIC), Department of Revenue, Ministry of Finance (MoF) has issued a notification lowering the threshold in line with the power conferred by sub-rule (4) of rule 48 of the Central Goods and Services Tax Rules, 2017.
• The GST Council recommended the phased introduction of an Electronic Invoice (“e-invoice”) in GST at its 37th meeting on September 20, 2019.

Aim: To digitize a higher volume of transactions, improve sales reporting transparency, reduce errors and mismatches, automate data entry work, and promote tax compliance.

E-Invoice

• E-invoicing prescribes a standardized format of an invoice that a machine can read.
• It is a system in which the Goods and Services Tax Network (GSTN) electronically authenticates B2B (Business to Business) invoices for subsequent usage on the common GST portal.

Significance of The Move
i. Under the E-invoicing system, an identification number will be assigned to each invoice by the Invoice Registration Portal (IRP) to be managed by the GSTN.
ii.If a company that is required to use E- invoicing doesn’t comply, their invoice will not be valid. In such a case, the beneficiary cannot claim an input tax credit (ITC) and will face penalties.
iii. With this move, tax authorities will be able to better analyse trends in the use and misuse of ITC across sectors, thereby preventing revenue losses.
Note:

• E-invoicing was made mandatory in October 2020 for entities with a turnover of Rs 500 crore or more. In 2021, this threshold was lowered to Rs. 100 crore for B2B transactions, and then to Rs. 50 crore.
• GST collections for July remained above the Rs. 1.4 trillion mark for the fifth straight month with the second highest mop-up of Rs. 1.49 trillion.

SEBI Restructures Market Data Advisory Committee on August 03, 2022

The Securities and Exchange Board of India (SEBI) has restructured the Market Data Advisory Committee (MDAC), which makes policy recommendations pertaining to securities market data access and privacy.The Advisory Committee on Market Data will now have 20 members. Previously, the committee consisted of 21 members.
Market Data Advisory Committee (MDAC) 
1. Chairperson: Dr. M. S. Sahoo, Distinguished Professor, National Law University, Delhi (NLUD) and Former Chairperson, Insolvency and Bankruptcy Board of India (IBBI).

2. Ashish Kumar Chauhan(Member MDAC), the newly appointed CEO of the National Stock Exchange (NSE), has replaced Vikram Limaye, NSE’s former MD and CEO.

• Chauhan served as the CEO and MD of the BSE (formerly Bombay Stock Exchange).

In addition, the panel includes CEOs of depositories, representatives from various stakeholders, and senior SEBI officials.
3. Other Members of MDAC
Dr. C.K.G. Nair, P.S. Reddy, Arun Raste, Padmaja Chunduru, Nehal Vora, Anuj Kumar, Sreekanth Nadella, Subrata Sarkar, Dhirendra Kumar, Prithvi Haldea, Mahesh Vyas, Ranjit Pawar, Raman Uberoi, Nithin Kamath, Kiran Shetty, Suhas Tuljapurkar, Amarjeet Singh, Prabhas Kumar Rath(Member Secretary).
Official Link of the List of Members of MDAC
Scope of Market Data Advisory Committee (MDAC)
i. The scope of the work of the committee includes identifying segment-wise data perimeters, data needs and gaps, recommending data privacy and data access regulations applicable to market data.
ii.It is responsible for recommending appropriate policy for access to securities market data.
iii. The committee also recommends standardization of data definitions; data identification logic (usage of uniform codes for identifying and storing data – raw data and derived data) and data validation techniques (single source of truth, validation).

InsuranceDekho partners Future Generali to offer pet insurance

Insurance start-up InsuranceDekho (Girnar Insurance Brokers Pvt. Ltd) has partnered with Future Generali India Insurance Company(Future Generali) to offer dog health cover. InsuranceDekho offers comprehensive coverage for over 25 breeds of dogs, aged 6 months to 10 years.
This will offer financial assistance to pet owners for towards hospitalisation (including pre and post-hospitalisation), treatment of terminal illness, and surgery, subject to certain terms and conditions.

• In India, It is estimated that pet insurance (including cattle) will witness an increase of at least 14% to achieve USD 490 million at the end of 2022. Globally, the pet insurance market is expected to reach USD 32.7 billion by 2030.

IndusInd Bank Partners Rupyy to Offer Paperless Loans for Used-Cars

IndusInd Bank Limited has announced a strategic partnership with Rupyy, a digital lending platform, to offer 100% paperless loan processing for used cars.

• Rupyy is a fintech arm of Girnarsoft Pvt Ltd, which houses brands like CarDekho, BikeDekho, Zigwheels, Powerdrift etc.

This partnership will enable the users of Rupyy to avail of simplified documentation and instant processing of vehicle loans from IndusInd Bank.
Customers of IndusInd Bank can opt for flexible repayment options while transacting on ‘Rupyy’. This makes the process completely seamless and convenient for customers.

ECONOMY & BUSINESS

India’s April-June 2022 Fiscal Deficit at Rs 3.52 lakh cr, 21% of FY23 targetAs per the revenue-expenditure data released by the Controller General of Accounts (CGA), India’s fiscal deficit for April-June 2022 stood at Rs 3,51,871 crore, which is about 21.2% of its full financial year target.

• The Central Government’s full-year target(FY23) for the fiscal deficit is Rs 16,61,196 crore, or 6.4 per cent of GDP.
• For June 2022 alone, the fiscal deficit was Rs 1,47,950 crore, as the Government announced an excise duty cut on petrol and diesel on May 21, 2022.
• The Indian economy is expected to grow around 7.2% year-on-year (y-o-y) in FY23, down from earlier estimates of over 8%, and 8.7% in FY22.

Key Points:
i.In total, the government received Rs 5,96,040 crore up to June 2022, comprising Rs 5,05,898 crore tax revenue (net to Centre), Rs 62,160 crore of non-tax revenue and Rs 27,982 crore of non-debt capital receipts.
ii.The receipts for June are 26.1% of corresponding budget estimates FY23 of the total receipts.
iii.Around Rs 1,42,775 crore has been transferred to states as devolution of share of taxes by the government up to June 2022. It is Rs 25,251 crore higher than the 2021.
iv.The total expenditure incurred by the government is Rs 9,47,911 crore, 24.0% of the corresponding estimate of FY23.

• Of this, Rs 7,72,847 crore is in the revenue account and Rs 1,75,064 crore is in the capital account.

v.India’s fiscal deficit for FY22 was 6.71% of the GDP (Gross Domestic Product), lower than the 6.9% projected in the revised estimates. The revenue deficit at the end of FY22 stood at Rs 10,32,947 crore (4.37%) in absolute terms.

• In April-June 2021, India’s fiscal deficit was Rs 2,74,245 crore, about 18.2% of the FY22 target.

APPOINTMENTS & RESIGNATIONS  

Auguste Tano Kouamé takes over as World Bank’s Country Director for India; Succeeds Junaid Kamal Ahmad

Auguste Tano Kouamé, a national of Côte d’Ivoire, took charge as the World Bank’s Country Director for India with effect from 1st August 2022. He replaces Junaid Kamal Ahmad who recently completed a 5-year term.

• He has served as the World Bank’s Country Director for Turkey.
• he has also served as the director of the department of human development and economic management in the World Bank Group’s Independent Evaluation Group (IEG) from January 2017 to April 2019.
• Prior to joining World Bank in 1996, he worked at the United Nations Development Program(UNDP) and taught Applied Economics in Côte d’Ivoire and France.

As of July 2022, World Bank’s net commitments to India stood at USD 21.86 billion across 99 project.    

ACQUISITIONS & MERGERS  

CCI clears Rs 4,500cr deal between BFHL consortium & IDFC; Approves Amalgamation between Shriram Group Companies

i.On August 2, 2022, the Competition Commission of India (CCI) approved the proposal of Rs 4,500 crore deal wherein the Bandhan Financial Holdings (BFHL)-led consortium will buy stakes in IDFC Asset Management Company Ltd and IDFC AMC Trustee.
ii.The consortium consists of Bandhan Bank’s parent BFHL, private equity firm ChrysCapital and Singapore’s sovereign fund GIC.
iii.CCI also approves Composite Scheme of Arrangement and Amalgamation between Shriram Group Companies under Section 31(1) of the Competition Act, 2002.
iv.CCI granted its approval for the acquisition of a 50.1% stake of Sanmina-SCI India (SCIPL) by Reliance Strategic Business Ventures (RSBVL). RSBVL is a subsidiary of Reliance Industries (RIL).
About Competition Commission of India (CCI):
Chairperson– Ashok Kumar Gupta
Headquarters– New Delhi, Delhi
>> Read Full News

BoB to Divest 12.5% stake in its Insurance arm IndiaFirst Life Insurance Company

The board of Bank of Baroda(BoB) has approved the divestment of up to 12.5% of its shareholdings in its subsidiary, IndiaFirst Life Insurance Company Limited (IFLIC).
BoB plans to divest up to 12.5% of IFLIC’s current paid-up share through an offer of sale in Initial Public Offer(IPO) of the insurer or any other mode permissible under the applicable law and subject to market conditions and statutory approvals.

• BoB will also ensure that its stake in IFLIC does not fall below 51% of the current paid-up equity share.
• In 2021, BoB purchased 21% stake of Union Bank of India and increased its stake in IFLIC from 44% to 65%.
• The remaining 35% is held by Carmel Point Investments India Pvt Ltd, owned by private equity funds managed by Warburg Pincus LLC.

SPORTS

ISSF World Cup Rifle/Pistol/Shotgun 2022 held in Changwon, South Korea; India tops Medal Tally with 15 medals

India won 15 medals, (5 gold, 6 silver and 4 bronze medals) and topped the medals list in International Shooting Sport Federation (ISSF) World Cup Changwon 2022 Rifle/ Pistol/ Shotgun held at South Korea from 9th July 2022 – 21st July 2022.

• South Korea grabbed one bronze on the final day and concluded the tournament with 12 medals (4 golds, 5 silver and 3 bronze medals).
• The 2022 ISSF World Cup is the annual edition of the ISSF World Cup in the Olympic shooting events, governed by the ISSF.

About International Shooting Sport Federation (ISSF):
President – Vladimir Lisin
Headquarters – Munich, Germany
>> Read Full News

India Will Host 2025 Women’s ODI World Cup

The International Cricket Council (ICC) announced India will host the 2025 ICC Women’s One Day International (ODI)World Cup.

• Reportedly India, Bangladesh, England and Sri Lanka were named as the four hosts for ICC women’s white-ball events from 2024-27.

Highlights:
i.The hosts were selected via a competitive bidding process undertaken by an ICC Board sub-committee chaired by Martin Snedden with Clare Connor, Ricky Skerritt and BCCI (Board of Control for Cricket in India)President Sourav Ganguly.
ii.The 2025 Women’s ODI World Cup(31 matches with 8 teams) will be hosted by India and Sri Lanka will host the inaugural 2027 Women’s T20 Champions Trophy(16 matches with 6 teams).
iii.Bangladesh will host the 2024 Women’s T20 World Cup( 23 Matches with 10 Teams ). The 2026 edition of the ICC T20 World Cup( 33 Matches with 12 Teams ) will be held in England.
About International Cricket Council (ICC):
Founded- 1909
Headquarters-Dubai,The United Arab Emirates(UAE)
Chairman– Greg Barclay

Casper Ruud Wins 2022 Swiss Open Gstaad in Switzerland

Norway’s top seed and defending champion Casper Ruud has won the Swiss Open Tennis Tournament 2022 held at the Roy Emerson Arena in Gstaad, Switzerland, from 18th July 2022 to 24th July 2022 by defeating Matteo Berrettini (Italy).

• This was Casper Ruud’s 9th in his career and 3rd in 2022 following the success in Geneva and Buenos Aires Open.
• Tomislav Brkić( Bosnia and Herzegovina) and Francisco Cabral(Portugal) defeated Robin Haase(Netherlands) and Philipp Oswald(Austria) to win the doubles tennis title at 2022 Swiss Open Gstaad.

About Swiss Open Gstaad
i.The Swiss Open Gstaad is a men’s tennis tournament played on outdoor clay courts.
ii.The 2022 tournament was the 54th edition of the Swiss Open and part of the Association of Tennis Professionals (ATP) Tour 250 series of the 2022 ATP Tour.

• It presents a prize money worth €534,555

About Association of Tennis Professionals (ATP):
CEO – Massimo Calvelli
Establishment – 1972
Headquarters – London, United Kingdom

BOOKS & AUTHORS

A Book titled ‘Do Different: The Untold Dhoni’ by Joy Bhattacharjya & Amit Sinha Launch

A book titled “Do Different: The Untold Dhoni” authored by Amit Sinha & Joy Bhattacharjya and imprinted by India Viking launched.
About the Book:
i.It highlights the journey of famous Indian cricketer Mahendra Singh Dhoni (MSD).
ii.It marks the experiences of  struggle, hardship and success of MSD which include hitting countless sixes in his school ground in Ranchi to finishing a run chase with another towering six in World Cups.
iii.The book also captures the matches and moments of MSD in the IPL, in international cricket and  beyond the game of cricket.
Prominent book about Mahendra Singh Dhoni (MSD):

• The Dhoni Touch: Unravelling the Enigma That Is Mahendra Singh Dhoni by Bharat Sundaresan
• Captain Cool: The M.S. Dhoni Story by Gulu Ezekiel
• Think and Win Like Dhoni by Sfurti Sahare

About the Authors:
i.Amit Sinha is a sports media professional, involved with multiple sports.
ii.Joy Bhattacharjya works in the sports media industry, and spent many years covering Indian cricket on broadcast for ESPN Star Sports, including MS Dhoni’s debut match for India.

• He then spent 7 seasons as Team Director with the Kolkata Knight Riders Team.

I&B Minister Releases Three Books; Presents First Copies to Former President Ram Nath Kovind

Union Minister of Information and Broadcasting (I&B) Anurag Thakur released three books published by the Directorate of Publications Division (DPD), Ministry of Information & Broadcasting (MIB).

• The first copy of the books were presented to the former President of India, Ram Nath Kovind in presence of President Droupadi Murmu, Vice President M. Venkaiah Naidu and Prime Minister Narendra Modi.

Books released:
i.Moods, Moments and Memories – Former Presidents of India (1950-2017) A Visual History
ii.First Citizen – Pictorial Record of President Ram Nath Kovind’s Term
iii.Interpreting Geometries – Flooring of Rashtrapati Bhavan.
Note –These 3 volumes take the total count of books about The Presidents of India & the historic residence in which the President of India resides to 17 books.
About the books:
i.Moods, Moments and Memories – Former Presidents of India (1950-2017) A Visual History
This book is a pictorial history that tells about all the Presidents of India from Dr. Rajendra Prasad to Pranab Mukherjee and contains rare photographs sourced from Rashtrapati Bhavan archives.
ii.First Citizen – Pictorial Record of President Ram Nath Kovind’s Term
This book is dedicated to former President Ram Nath Kovind’s tenure and contains rare photographs from his village and his school days, which traces his journey from his village to Rashtrapati Bhavan.
iii.Interpreting Geometries – Flooring of Rashtrapati Bhavan
This book is a pictorial compilation by the Chandigarh College of Architecture and contains the historic data about Rashtrapati Bhavan by showing its unique, repetitive motifs and designs with the use of rare stones.

IMPORTANT DAYS

World Lung Cancer Day 2022- August 1

World Lung Cancer Day is annually observed on 1st August to spread awareness about the causes and treatment of lung cancer. The main purpose of the day is to educate people about the habits and the factors that can cause lung cancer.

• Lung cancer is one of the deadliest diseases and the leading cause of cancer deaths among men and women.

Note-
World Cancer Day is annually observed on 4th February by the Union for International Cancer Control (UICC).
About  International Association for the Study of Lung Cancer (IASLC):
President– Dr. Heather Wakelee
Headquarters-Denver, Colorado, United States
Founded-1974
>> Read Full News

International Day of Friendship 2022 – 30th July The United Nations (UNs) International Day of Friendship or Friendship Day is annually observed across the globe on 30th July to honour the friendship.

• In India Friendship Day is celebrated on First Sunday in the month of August.
• In 2022, Friendship day in India will be celebrated on 7th August 2022.

In 2011, in the 65th UN session, the UN General Assembly proclaimed 30th July to be the International Day of Friendship under a resolution A/65/L.72.
>> Read Full News

84th CRPF Raising Day: July 27, 2022

The Central Reserve Police Force (CRPF) annually celebrated its Raising Day on 27th July to mark the establishment of the Force.

• The year 2022 marked the observance of 84th CRPF Raising Day.

The day celebrates the immense and unique contribution of the force in maintaining the unity, integrity & sovereignty of India. The CRPF has evolved into a Force with 246 Battalions deployed across India.
Background:
i.The CRPF came into existence on 27 July 1939 as the ‘Crown Representative Police’.
ii.After independence of India, it became the Central Reserve Police Force on the enactment of the ‘CRPF Act’ on 28 December 1949, which constituted the CRPF as the Armed Force of the Union.
84th Raising Day Events:
i.The 84th Raising Day celebration was held at Shaurya Officer’s Institute, Vasant Kunj, Delhi.
ii.Kuldiep Singh, Director General (DG) CRPF, garlanded the urn containing the sacred soil of the battle ground of Sardar Post and paid homage to the 2245 Bravehearts of the Force.
iii.DG CRPF also presented Gallantry medals to awardees and family members.
About Central Reserve Police Force (CRPF):
The CRPF is the largest central armed police force in India, which works under the authority of the Ministry of Home Affairs (MHA).
Motto-“सेवा और निष्ठा” (Service and Loyalty)
Headquarters- New Delhi, Delhi

STATE NEWS

Tamil Nadu CM Launches Initiatives for Startups

Chief Minister (CM) of Tamil Nadu, Muthuvel Karunanidhi (M.K.) Stalin  launched three Startup Tamil Nadu Regional Hubs in Madurai, Tirunelveli and  Erode to enhance the reach of initiatives of the government to tier-II and tier-III regions.

• The initiatives was launched in theTamil Nadu Startups and Incubators Meet – 2022

i.The Tamil Nadu government is set to launch a new Startup and Innovation Policy to encourage new startups targeting socio-economic development in Tamil Nadu.

• The last startup policy was launched  in 2018.

Highlights:
i.He also rolled out the StartupTN Accelerator initiative designed to boost the growth of startups through upskilling, mentoring and access to the right resources. It will benefit over 100 startups in Tamil Nadu.
ii.The CM also announced two more initiatives – Community Circles and Incubator Maturity Model Framework .

• The Community Circles will focus on spreading the art of innovation and entrepreneurship among students and create success stories within the community.
• These circles are micro-groups of 20-50 members comprising startups, entrepreneurs, mentors, investors, entrepreneurship development cells and incubator representatives, students, aspirants and enthusiasts.

iii.Under the 3rd edition of Tamil Nadu Startup Seed Grant Fund (TANSEED), the CM disbursed the first tranche of Rs.1.55 crore providing  Rs.5 lakh each to 31 startups of Tamil Nadu.

• The startups are in healthcare, assistive technology, FinTech, manufacturing, entertainment, skill development and B2B-SaaS (business-to-business software-as-a-service) etc.

iTNT Hub is India’s First Emerging and DeepTech Innovation Network
The CM also launched five accelerator programmes in Industry 4.0 besides the i-TNT (Tamil Nadu Technology) Hub in Anna University, Kotturpuram, Chennai coming up at a cost of Rs 54.6 crore.
Key points:
i.The i-TNT Hub is India’s first emerging DeepTech Innovation Network coming up on about 25,000 sq ft area.
ii.It will function as an accelerator-cum-incubator for startups working in DeepTechnologies with the Academic Network of more than 570+ Engineering Colleges, engaging with researchers and Industry partners.
iii.It is anchored by the Government of Tamil Nadu and supported by the Government of India, iTNT Hub is building India’s first Deeptech Innovation Network connected to the world.
About Tamil Nadu:
Governor- Ravindra Narayana Ravi
Dance- Ottan Koothu,Poikkal Kuthirai Aattam or Koothu,Kazhai Kothu Nuclear Power Plant – Kudankulam Nuclear Power Plant,Tirunelveli

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