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Vman Aviation signs GIFT City’s 1st Aircraft Purchase Agreement with Airbus HelicoptersVman Aviation Services became the first GIFT (Gujarat International Finance Tec) City, Gandhinagar based Aircraft leasing company to sign an Aircraft purchase agreement after placing an order for an Airbus H125 helicopter with France-based Airbus Helicopters SAS. The agreement has been signed underGovernment’s Atma Nirbhar Bharat Abhiyan Initiative.
- Shri Vishok Mansingh, CEO, Vman and Mr. Remi Maillard, President, Airbus India and Managing Director, South Asia region signed the agreement.
- The signing of the purchase agreement was presided by Pradeep Singh Kharola, Secretary, Ministry of Civil Aviation (MoCA) and was held at New Delhi.
- Vman will announce its 1st dry lease transaction soon. A dry lease is a leasing arrangement where an aircraft lessor provides an aircraft without crew, ground staff, etc, to an airline or corporation.
GIFT City as Hub for Aircraft Leasing
The Government of India is aiming to make GIFT IFSC a hub for aircraft leasing & financing activities. In the Union Budget 2021-22, Finance Minister Nirmala Sitharaman rolled out incentives for Aircraft Leasing companies which are willing to set up a base at the IFSC (International Financial Services Centre) in GIFT City.
About Vman Aviation Services
It is a subsidiary of a Vman Aero Services LLP
CEO – Vishok Mansingh
Location – GIFT City, Ahmedabad, Gujarat
About Airbus Helicopters SAS
CEO – Bruno Even
Headquarters – Marignane, France
>>Read Full News
Govt Set up 25-Member DCCI under the Chairmanship of Puneet DalmiaThe Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, has set up a 25-member Development Council for the Cement Industry (DCCI) under the chairmanship of Puneet Dalmia, CMD, Dalmia Bharat Group.
- The Council will suggest ways to eliminate waste, obtain maximum production, improve quality, reduce costs, and promote standardization of products.
- It will also recommend measures for securing the full utilization of the installed capacity and improving the working of the cement industry (particularly of the less efficient units).
Members of DCCI:
The members were appointed for 2 years.
i.K C Jhanwar – MD, UltraTech Cement
ii.HM Bangur – MD, Shree Cement Ltd
iii.Rakesh Singh – Executive President, The India Cements Ltd
iv.Pracheta Majumdar – CEO, Birla Corporation Limited
v.Madhavkrishna Singhania – Deputy MD, J.K. Cement Ltd
vi.Nilesh Narwekar – CEO, JSW Cement Ltd
About Department for Promotion of Industry and Internal Trade (DPIIT):
i.Department of Industrial Policy & Promotion was renamed as DPIIT in January 2019.
ii.DPIIT was reconstituted in 2000 with the merger of the Department of Industrial Development. In 2018, matters related to e-commerce were also transferred to DPIIT.
Establishment – 1995
>>Read Full News
India to have 24 Integrated Check Posts on Land Borders by 2025: LPAIDuring a seminar organized by Centre for Social & Economic Progress (CSEP), Aditya Mishra, Chairman of LPAI (Land Ports Authority of India), a statutory body under the Ministry of Home Affairs stated that India will have 24 Integrated Check Posts (ICPs) on land borders by 2025. It will enable better integration of India with the South East Asian region and other regions beyond them.
- Government has already approved all the 24 land ports, out of which 9 are already functional, some are under construction and some are under various stages of development. The number of ICPs is set to at least 20 in the next 2 years.
- ICPs are entry and exit points on India’s land borders, they house various facilities like customs, immigration, and border security, quarantine, among others, within a single facilitation zone.
i.In addition to the ICPs, India is taking steps to ensure that all 90 transit points along the 15,000 km border are covered under standard infrastructure to facilitate all types of trade, transit and travel.
ii.Increased importance on ICPs is driven by various factors like rising trade between India and neighbouring countries, and the demand from smaller South Asian countries to increase connectivity infrastructure. India’s international obligations also play a major role to strengthen infrastructure at the border.
About Land Ports Authority of India (LPAI)
Chairman – Aditya Mishra
Head Office – New Delhi
>>Read Full News
22 Million Jobs lost in Developed Nations due to COVID-19: OECD ReportThe Organisation for Economic Cooperation & Development (OECD) in its ‘OECD Employment Outlook 2021’ stated that over 22 million jobs were lost in developed nations due to COVID-19.
- Out of 22 million who remain out of work, 8 million are unemployed and 14 million are considered inactive.
- The report states that worldwide, 114 million jobs were lost during the pandemic.
- In May 2021, unemployment among OECD countries fell to 6.6%, but remained at least 1% above pre-pandemic levels. The pre-pandemic levels of employment are unlikely to be achieved before the end of 2022.
OECD Employment Outlook
It is an annual assessment of key labour market developments and prospects in OECD member countries.
- The 2021 edition is devoted to navigating the COVID-19 crisis and recovery.
About Organisation for Economic Cooperation & Development (OECD)
Secretary-General – Mathias Cormann
Headquarters – Paris, France
Members Countries – 37
>>Read Full News
Agriculture to be made more Appealing to Youth to save future Food Security – UN FAOTransforming global Agriculture & Food Security in a way more appealing to the younger population will be the key to secure the future of global food & nutrition security, as per the report released by Committee on World Food Security (CFS).
i.The report titled “Promoting youth engagement and employment in agriculture and food systems” was prepared by CFS’s High Level Panel of Experts (HLPE) on food security and nutrition.
ii.CFS is an intergovernmental platform that works on food security and nutrition for all. It is hosted by the Food and Agriculture Organization (FAO).
Findings of the Report:
i.Unemployment rate in youth (majority – young women) is 3-times higher than adults.
ii.Agriculture & food system, when made appealing to youth, provides enormous room for employment generation in developing countries where 88% of the global youth population live.
iii.Countries should improve youth-focused social protection programmes, labour laws and regulations. Thereby supporting youth-led start-up initiatives through environmental policies.
About Committee on World Food Security (CFS):
Founded – 1974
CFS Chairperson – Thanawat Tiensin
About Food & Agriculture Organisation (FAO):
Founded – 16 October 1945
Headquarters – Rome, Italy
Director-General – QU Dongyu
BANKING & FINANCE
Axis Bank inks MoU with Indian Army offering Service Salary Package under its ‘Power Salute”‘ initiativeOn July 6, 2021, Axis Bank signed a Memorandum of Understanding (MoU) with the Indian Army at Army Headquarters, New Delhi to offer a defence service salary package to the latter under its ‘Power Salute’ initiative. The MoU will cover all ranks of army officers viz. serving Defence personnel as well Defence pensioners under its ambit.
- During the signing ceremony Indian Army was represented by Lt Gen (Lieutenant General) Rana Pratap Kalita, and Axis Bank was represented by Reynold D’ Souza, Executive Vice President and Lt Col MK Sharma National Accounts Head, Axis Bank.
What is in the package?
i.Personal accidental cover of up to Rs 56 lakh to all army personnel
ii.Up to 8 lakh education grant
iii.Total Permanent Disability Cover benefit up to 46 lakh
iv.Permanent partial disability cover of up to Rs 46 lakh
v.Air accident cover of Rs 1 crore
vi.Free additional debit card for a family member
This MoU represents Axis Bank’s commitment towards Defence Forces by supporting them in their financial requirements through banking solutions.
About Axis Bank:
Establishment– 1993 as UTI Bank (Name changed to Axis Bank in 2007)
Managing Director (MD) & Chief Executive Officer (CEO)– Amitabh Chaudhry
Headquarters– Mumbai, Maharashtra
Tagline– Badhti Ka Naam Zindagi
Max Bupa tie-up with Axis Bank to Offer Health InsuranceOn July 07, 2021, Axis Bank, the country’s third-largest private sector bank, entered into a bancassurance partnership with Max Bupa Health Insurance to provide comprehensive health insurance solutions to its customers and employees.
- Under the partnership, Max Bupa will offer indemnity as well as fixed benefit products, and their customizable variants to the bank’s customers across the country.
- The Axis Bank customers are also enabled to get access to quality healthcare solution products that are offered by Max Bupa through the tie-up.
- The Health Insurance would cover medical emergencies in Tier 1, Tier 2 and Tier 3 cities.
About Axis Bank:
Establishment –1993 (Commenced operation –1994)
MD & CEO – Amitabh Chaudhry
Headquarters – Mumbai, Maharashtra
Tagline – Badhtika Naam Zindagi
>>Read Full News
Easiloan Instant Match: Easiloan launched India’s first AI-based Home Loan Selection EngineOn July 7, 2021, a fintech startup Easiloan Techno Solutions Pvt. Ltd. located in Mumbai, Maharashtra launched ‘Easiloan Instant Match’ application for home loans. This app is the housing finance industry’s first Artificial Intelligence (AI) technology-based selection and recommendation engine for home buyers.
Aim behind this Launch:
i.To address the inefficiencies in the home loan ecosystem
ii.To streamline the loan processes across buyer, developer/seller and lenders.
i.It is a single platform that connects developers, direct selling agents (DSAs), customers, banks and NBFCs (Non-bank financial institution) for end-to-end digital processing of home loans.
ii.The startup has tied up with leading lenders like HDFC (Housing Development Finance Corporation), ICICI (Industrial Credit and Investment Corporation of India) Bank, SBI (State Bank of India), Bajaj Housing Finance, among others for home loans.
SBI General Insurance Launched Health Insurance Plan – ‘Arogya Supreme’SBI General Insurance launched a comprehensive health insurance plan named ‘Arogya Supreme’ with multiple benefits and coverages.
Features of Arogya Supreme:
i.Under the policy the insured persons will get a wide range of sum insured options up to Rs 5 crore for their medically necessary hospitalization due to illness or accident that occurred during the policy period.
ii.Options: Based on the sum insured and coverage features, 3 different options viz Pro, Plus, and Premium were provided for the customers to choose under the plan.
iii.Policy Term: Customers also have a facility to choose the policy tenure ranging from 1 to 3 years i.e. 1year/2years/3years.
iv.Age Limit: Adult – 18 years to 65 years; Child – 91 days to 25 years.
About SBI General Insurance Company Ltd:
Establishment – 2009 (Commenced Operation – 2010)
Headquarters – Mumbai, Maharashtra
MD & CEO – Prakash Chandra Kandpal
Tagline – Suraksha Aur Bharosa Dono
>>Read Full News
RBI Announced Changes in G-Sec Auction MethodologyBy reviewing the market conditions and market borrowing program of the government, the Reserve Bank of India (RBI) has modified the auction methodology of the benchmark securities of tenor 2-year, 3-year, 5-year, 10-year, 14-year tenor and Floating Rate Bonds (FRBs) to uniform price auction method (earlier it was based on multiple price-based auctions).
- The auction of other benchmark securities such as 30-year and 40-year were unchanged and made to continue as multiple price-based auctions.
- RBI announced its 1st purchase of Government securities (G-sec) under G-SAP 2.0 (G-sec Acquisition Programme) for an aggregate amount of Rs 20,000 crore, it was scheduled to be conducted on July 08, 2021.
- Background: In June 2021, under the Monetary Policy Report, RBI stated about G-SAP 2.0 in Q2 FY22 and secondary market purchase operations of Rs 1.20 lakh crore to support the market.
Note – Floating Rate Bonds (FRBs)- These are the bonds with variable interest rates and maturity of 7years. The interest rates of FRB will vary periodically as they are linked with a benchmark rate such as LIBOR (London Inter Bank Offered Rate), SOFR (Secured Overnight Financing Rate), etc.
About Government Security (G-Sec):
i.It is a tradable instrument issued by the Central Government or the State Governments and it acknowledges the Government’s debt obligation.
ii.They are classified as short term (usually called treasury bills, with original maturities of less than one year) or long term (usually called Government bonds or dated securities with an original maturity from 5 years to 40 years).
iii.The Central Government issues both, treasury bills and bonds or dated securities while the State Governments issue only bonds or dated securities, which are called the State Development Loans (SDLs).
iv.G-Secs carry practically no risk of default and, hence, they are called risk-free gilt-edged instruments.
Airtel Payments Bank launches ‘Pay to Contacts’ Feature for UPI-Based Transactions
Airtel Payments Bank has launched a new feature called ‘Pay to contacts’ which will allow its customers to initiate a UPI (Unified Payments Interface) payment by selecting the receiver’s mobile number from their phonebook. It will display the valid UPI ID associated with the selected contact, irrespective of the UPI app used by the receiver.
- The feature will eliminate the need to enter the UPI ID or bank account details to process the payment and save time.
ECONOMY & BUSINESS
Fitch cut India’s GDP Growth Forecast for FY22 to 10%On July 07, 2021, Fitch Ratings, the global credit rating agency in its report named ‘Indian Banks 2021 Report Card’, has reduced India’s Gross Domestic Product (GDP) growth forecast for FY22 by 280bp to 10 percent from its earlier estimation of 12.8 percent due to the slowing recovery after the second wave of COVID-19.
- The report estimated India’s medium-term growth potential at about 6.5 percent.
- It stated that the Indian economy contracted by 7.3 percent in FY21 as against a 4 percent growth in FY20.
Highlights of the Report:
i.The agency reported an increase in challenges for the Indian banks due to the 2nd wave of COVID-19 in Q1FY22.
ii.It reported a reduction in impaired loans ratio in FY21 to 7.5 percent from 8.5 percent in FY20 and it expects the impaired loans to peak after FY23. It also reported a reduced medium-term performance of banks without a meaningful economic recovery.
iii.Based on the total exposure to MSMEs that have availed ECLGS (Emergency Credit Line Guarantee Scheme), Fitch estimated the aggregate potential stressed loans of large state banks at 11.9 percent of loans, and that of mid-sized state banks at 9.3 percent.
iv.It mentioned an increase in the share of private banks in the state-guaranteed ECLGS loans in FY21 by 2.2 percent when compared with state banks’ 1.2 percent.
v.As per the report, Indian banks loan growth in FY21 decreased moderately to around 5.5 percent than 6.5 percent in FY20. In which the public sector banks had 2.2 percent loan growth which is lower than the 9.6 percent loan growth of private sector banks.
vi.Other Growth Estimates: RBI has cut India’s growth forecast for FY22 to 9.5 percent from 10.5 percent and the World Bank revised its GDP growth of FY22 to 8.3 percent, from 10.1 percent.
About Fitch Ratings:
Headquarters – New York, United States
President – Ian Linnell
India’s E-Commerce Industry to touch USD 188 billion by 2025: FICCI ReportFICCI’s (Federation of Indian Chambers of Commerce & Industry) latest report ‘A progressive shift from transactions to trust’ states that India’s Online Commerce Industry is expected to touchUSD 188 billion by 2025 & USD 200 billion by 2026 from USD 64 billion in 2020. The increase is mainly due to increased adoption of e-commerce caused by COVID-19.
- The contribution of the Online Commerce Industry to India’s GDP will reach 3.8% by 2025.
- It also states that the Indian retail industry will touch USD 1.1 – USD 1.3 trillion in value by 2025.
Rise in Tier-2 & Tier-3 cities
The increase in online shopping & consumption of digital content is driven by Tier-2 & Tier-3 cities.
- Based on the survey conducted by FICCI, Online shoppers in India grew 73% in tier-1 cities and a staggering 400% within Tier 2 and Tier 3 cities.
- During the 2020 festive season (mid-October to November), online commerce saw a 56% rise in order volume and 50% growth in gross merchandise value compared to the 2019 festive season.
During the survey, 75% respondents indicate a strong trust in online shopping which includes trust in payment security, ease of return and refund guarantees.
About Federation of Indian Chambers of Commerce and Industry(FICCI)
President – Uday Shankar
Headquarters – New Delhi
Establishment – 1927
AWARDS & RECOGNITIONS
Kanchan Ugursandi completes World’s 1st Solo Motorcycle Expedition
Mountain biker Kanchan Ugursandi completed the World’s 1st Solo Motorcycle Expedition covering 18 passes in the Himalayas covering 3,187 kilometers from New Delhi-Manali-Leh-Umlingla-Delhi in 25 days. She is also the 1st woman biker to cover the 18 passes.
i.Her Expedition was flagged off by Defence Minister Rajnath Singh on 11th June from New Delhi, on a move to promote COVID safety awareness in border areas.
APPOINTMENTS & RESIGNATIONS
Overview of Cabinet Reshuffle & Portfolio of New MinistersOn 7th July, 2021, the reshuffle and expansion of the Union Cabinet took place. As many as 43 Ministers (15 Cabinet Ministers, 28 Ministers of State) were sworn in, taking the strength of the Council of Ministers to 77 (78 including Prime Minister).
- Out of 43, 36 were New Faces & 7 Ministers were promoted to the rank of Cabinet Minister.
- As per Article 75 (4) The Ministers were administered the oath of office and secrecy by President Ram Nath Kovind at a ceremony held in the Rashtrapati Bhavan, New Delhi.
- Before the appointment of Ministers, The President accepted the resignation of 12 Ministers.
- Prime Minister Narendra Modi is set to directly monitor the Ministry of Science & Technology.
Stefan Lofven re-elected as Prime Minister by Swedish ParliamentStefan Lofven of the Swedish Social Democratic Party was re-elected as Prime Minister of Sweden by the Swedish Parliament in July 2021. This comes a month after the June 11 No-Confidence vote in the Parliament, which led to his resignation after he failed to prove majority in the 349-member legislature.
i.Stefan Lofven won the majority in the recent voting by only 2-votes, which requires a minimum of 175 votes to prove majority. The narrow win puts him in a critical position in passing the country’s budget.
ii.Notably, the next Swedish Parliamentary election is set to be conducted in September 2022.
iii.He serves as the Prime Minister of Sweden, since 2014
Capital – Stockholm
Currency – Swedish Krona
Parliament Name – Riksdag
5 Countries – Sweden, Denmark, Norway, Finland, and Iceland together called as ‘Scandinavian Countries’
ACQUISITIONS & MERGERS
HDFC Divested 2.46% Stake in HOECL
On July 07, 2021, Housing Development Finance Corporation (HDFC) Ltd had divested 2.46 percent (32,53,517 shares) of its stake in Hindustan Oil Exploration Company (HOECL) for Rs 37.19 crore.
- In FY21 HOECL’s standalone total revenue stood at Rs 111.26 crore and the balance sheet of the company was at the size of Rs 1,035.27 crore.
- HOECL is a company engaged in the exploration, development and production of crude oil and natural gas in India (both offshore and onshore), since 1983.
SCIENCE & TECHNOLOGY
dbGENVOC: World’s 1st database of Genomic Variants of Oral Cancer created by DBT-NIBMGi.On July 7, 2021, the National Institute of Biomedical Genomics (NIBMG) located in Kalyani, West Bengal has created a world’s first of its kind browsable online database namely ‘dbGENVOC- database of GENomic Variants of Oral Cancer’. This database is a repository that can be accessed by the public at free of cost.
ii.It will be updated annually with variation data from new oral cancer patients from different regions of India and Southeast Asia.
About Department of Biotechnology (DBT)
Parent Ministry– Ministry of Science and Technology
Secretary– Renu Swarup
>>Read Full News
Indian Cricketer Mithali Raj Became Leading Scorer in All forms of Women’s International Cricket
Indian cricketer and women’s ODI Captain Mithali Raj (38 years old) became the leading scorer in women’s international cricket in all three formats. She overtook former England’s batter Charlotte Edward’s tally of 10273 runs during the 3rd and final One-Day Internationals(ODI) between England and India held in Worcester, Massachusetts, United States.
- Mithali Raj has scored a total of 10277 runs in 317 matches.
- She is the only Indian cricketer and 2nd international cricketer to score more than 10000 runs in Women’s International Cricket.
Mithali Raj tops the ICC ODI women’s Batting Rankings for the 8th time. She achieved the feat for the first time in April 2005.
- She has represented India in more than 200 ODI and has scored 6974 runs.
- She also holds the record of the most runs in Women’s ODIs.
Former CM of Himachal Pradesh & Congress Leader Virbhadra Singh Passed Away Former Chief Minister(CM) of Himachal Pradesh Virbhadra Singh passed away in Shimla, Himachal Pradesh. He was born on 23rd June 1934 at Sarahan, Punjab, British India (Now in Himachal Pradesh). He is the sitting Member of the Legislative Assembly (MLA) from the Arki assembly constituency (Solan District, Himachal Pradesh).
He was popularly known by the honorific ‘Raja Sahib’.
- Virbhadra Singh, a veteran Congress leader, has served as the CM of Himachal Pradesh (6 times) between 1983 to 2017.
- He was also a 9-time MLA and 5-time Member of Parliament(MP).
About Virbhadra Singh:
i.Virbhadra Singh has served as the President of the Himachal Pradesh Congress Committee.
ii.Virbhadra Singh has been elected to the Legislative assembly of Himachal Pradesh in 1983, 1985 from the Jubbal-Kotkhai Assembly Constituency, in 1990, 1993, 1998, 2003 and 2007 from the Rohru constituency and in 2012 from the Shimla Rural constituency.
iii.He was re-elected to the 13th Vidhan Sabha in 2017 from the Arki constituency.
iv.He was elected to the Lok Sabha in 1962 and 1967 from Mahasu Constituency (Himachal Pradesh), in 1971, 1980 and 2009 from Mandi constituency (Himachal Pradesh).
v.He has served as the Deputy Minister of Tourism and Civil Aviation, Minister of State for Industries (1982 to 1983), Union Minister of Steel (2009 to 2011) and Union Minister of Micro, Small & Medium Enterprises (MSME) (2011- 2012).
Haiti President Jovenel Moïse Assassinated at age 53 Jovenel Moïse(53 years old), President of the Republic of Haiti was assassinated on 7th July 2021 at his private residence at Pèlerin 5, Port-au-Prince, Haiti. He was born on 26th June 1968 in Trou Du Nord, Nord Est, Haiti.
About Jovenel Moïse:
i.Jovenel Moïse was an entrepreneur, who has been serving as the president of Haiti since 2017.
ii.In 2015, Jovenel Moise was designated as the presidential candidate of the Haitian Tèt Kale Party (PHTK) by then-President Michel Martelly.
iii.He won the first round of the presidential election in October 2015 which was marred by voter fraud.
iv.He also won the vote which was held again in November 2016, and officially took office on 7th February 2017.
BOOKS & AUTHORS
Venu Madhav Govindu & Srinath Raghavan Edited a New Book “The Fourth Lion: Essays for Gopalkrishna Gandhi”“The Fourth Lion: Essays for Gopalkrishna Gandhi”, a new book edited by Venu Madhav Govindu and Srinath Raghavan. The Fourth Lion is a festschrift (a collection of writings in honour of a scholar) published in honour of Gopalkrishna Gandhi.
It is a collection of 26 essays contributed by individuals drawn from across the globe.
The book is published by the Aleph Book Company.
About the Book:
The 26 essays in the book are organised into thematic sections like Literature and Culture, History, Environment, Politics and Public Affairs, and Memoirs.
i.Gopalkrishna Gandhi has been an administrator, diplomat, author, and public intellectual of distinction for more than 40 years.
ii.He has served as the 23rd Governor of West Bengal from 2004 to 2009.
iii.The writing of Gopalkrishna Gandhi covers various genres that deal with the issues of politics, history, literature and culture.
i.Venu Madhav Govindu is an associate professor in the Department of Electrical Engineering at the Indian Institute of Science(IISc), Bengaluru, Karnataka.
- He has co-authored the book titled “The Web of Freedom: J. C. Kumarappa and Gandhi’s Struggle for Economic Justice” with Deepak Malghan.
ii.Srinath Raghavan is a Professor of International Relations and History at Ashoka University.
iii.He has authored several books including,
- A Functioning Anarchy?: Essays for Ramachandra Guha
- India’s War: The Making of Modern South Asia 1939-1945
- 1971: A Global History of the Creation of Bangladesh
- The Most Dangerous Place: A History of the United States in South Asia
Book Lady Doctors: The Untold Stories of India’s First Women in Medicine authored by Kavitha Rao
A new book titled ‘Lady Doctors: The Untold Stories of India’s First Women in Medicine’ authored by Kavitha Rao is all set to be released. It is published by Amazon-backed Westland Books.
- It contains stories of India’s first women doctors which are ignored by history. These are Anandibai Joshi, Rukhmabai Raut, Kadambini Ganguly, Haimabati Sen and Chennai’s Muthulakshmi Reddy, who founded the Adyar Cancer Hospital.
IndusInd Bank Partnered with TPCODL to Launch Digital Payment Network in OdishaIndusInd Bank has partnered with the TP Central Odisha Distribution Limited (TPCODL), a joint venture of TATA Power and the Government of Odisha, to introduce a fully digital network to enable digital payment of electricity bills across 300 semi-urban and rural regions of Odisha.
Features of the initiative:
i.Through this initiative, IndusInd Bank aims to impact the lives of more than 20 lakh rural customers by enabling utility-based payment services across the remotest areas of Odisha.
ii.Under this partnership, the TPCODL will utilise the IndusInd Bank’s network of Bharat Money Stores and enable the consumers to make electricity bill payments in a fully digital manner.
- Bharat Money Stores, a banking and financial service platform for Kirana Store merchants developed by the Bharat Financial Inclusion Limited, a wholly-owned subsidiary of IndusInd Bank.
iii.The IndusInd Bank has selected more than 8500 Bharat Money stores to accept the bill payment using the Aadhaar Enabled Payment System (AEPS).
About IndusInd Bank:
Managing Director & CEO– Sumant Kathpalia
Chairman– Arun Tiwari
Headquarters– Pune, Maharashtra
Commenced Operations in 1994
About TP Central Odisha Distribution Limited (TPCODL):
TPCODL is a joint venture between Tata Power (51%) and the Government of Odisha.
CEO– M. Shenbagam
Established on – 1st June 2020
Headquarters– Bhubaneswar, Odisha
J&K LG Manoj Sinha Launched Web Portal of Electrical Inspection Wing at JammuManoj Sinha Lieutenant Governor(LG) of Jammu and Kashmir(J&K) launched the Web Portal of Electrical Inspection Wing at Jammu to make the electrical inspection process more convenient for the general public.
The application for the inspection process is available on www.eijammu.in.
- To make the services of the Power Development Department easily accessible to the people of Jammu and Kashmir.
- To rectify the issues identified by the Electrical Inspection Agency within a specified time.
Features of the web portal:
i.The end to end process of the electrical inspection, from the application state, depositing inspection fees, fixing the date of inspection to the issuance of fitness certificate has been converted into online mode.
ii.The portal also has a time bound procedure which informs the applicant regarding the approval or denial of application through the website within 12 days.
iii.The portal also provides an e-fitness certificate by verifying the rectified photographs uploaded by the applicants.
iv.The portal will ensure the issuance of fitness certificates in a time specific schedule and enable the commissioning of installations for public use during the given period.
To avoid any form of electrical danger to life and property, the portal has a provision to report any unsafe electrical installation for immediate rectification by the utility staff.
About Jammu & Kashmir:
National Park– Dachigam National Park, Kishtwar National Park
Bird sanctuary– Hokersar bird sanctuary
Current Affairs Today (AffairsCloud Today)
|S.no||Current Affairs 9 July 2021|
|1||Vman Aviation signs GIFT City’s 1st Aircraft Purchase Agreement with Airbus Helicopters|
|2||Govt Set up 25-Member DCCI under the Chairmanship of Puneet Dalmia|
|3||India to have 24 Integrated Check Posts on Land Borders by 2025: LPAI|
|4||22 Million Jobs lost in Developed Nations due to COVID-19: OECD Report|
|5||Agriculture to be made more Appealing to Youth to save future Food Security – UN FAO|
|6||Axis Bank inks MoU with Indian Army offering Service Salary Package under its ‘Power Salute”‘ initiative|
|7||Max Bupa tie-up with Axis Bank to Offer Health Insurance|
|8||Easiloan Instant Match: Easiloan launched India’s first AI-based Home Loan Selection Engine|
|9||SBI General Insurance Launched Health Insurance Plan – ‘Arogya Supreme’|
|10||RBI Announced Changes in G-Sec Auction Methodology|
|11||Airtel Payments Bank launches ‘Pay to Contacts’ Feature for UPI-Based Transactions|
|12||Fitch cut India’s GDP Growth Forecast for FY22 to 10%|
|13||India’s E-Commerce Industry to touch USD 188 billion by 2025: FICCI Report|
|14||Kanchan Ugursandi completes World’s 1st Solo Motorcycle Expedition|
|15||Overview of Cabinet Reshuffle & Portfolio of New Ministers|
|16||Stefan Lofven re-elected as Prime Minister by Swedish Parliament|
|17||HDFC Divested 2.46% Stake in HOECL|
|18||dbGENVOC: World’s 1st database of Genomic Variants of Oral Cancer created by DBT-NIBMG|
|19||Indian Cricketer Mithali Raj Became Leading Scorer in All forms of Women’s International Cricket|
|20||Former CM of Himachal Pradesh & Congress Leader Virbhadra Singh Passed Away|
|21||Haiti President Jovenel Moïse Assassinated at age 53|
|22||Venu Madhav Govindu & Srinath Raghavan Edited a New Book “The Fourth Lion: Essays for Gopalkrishna Gandhi”|
|23||Book Lady Doctors: The Untold Stories of India’s First Women in Medicine authored by Kavitha Rao|
|24||IndusInd Bank Partnered with TPCODL to Launch Digital Payment Network in Odisha|
|25||J&K LG Manoj Sinha Launched Web Portal of Electrical Inspection Wing at Jammu|