The 1st-ever India Innovation Index was launched by NITI Aayog in New Delhi in order to promote competitiveness among the states. Karnataka has emerged as the topper among major states. Tamil Nadu is on 2nd & Maharashtra is on the 3rd positions.
Among the North-Eastern states Sikkim occupied the top spot.
With 21 unicorns, India has emerged as 3rd largest ecosystems for more successful start-ups according to Hurun Global Unicorn List 2019. China & US won 1st & 2nd positions, respectively. Beijing is the world’s unicorn capital city. Europe has 35 unicorns.
As a region, Silicon Valley leads the world.
2020 G7 summit will take place in one of Trump's Florida golf clubs. Acting chief of staff Mick Mulvaney informed this. G7 is an organisation made up of the world's 7 largest so-called advanced economies: Canada, France, Germany, Italy, Japan, UK & US.
The 45th G7 summit was held on August 2019 France.
World Bank President David Malpas is to visit India & Pakistan later this month where he will discuss the challenges in the financial sector. Annual meetings of the IMF and World Bank have begun in Washington. WB publishes Global Economic Prospects report.
GEP report examines global economic developments & prospects.
A K Saxena sworn in as the new Director of operations in Visakhapatnam Steel Plant - Rashtriya Ispat Nigam Ltd (RINL). He was the Chief general manager of Mills at SAIL IISCO plant in West Bengal. RINL is built using German & Soviet technologies.
Visakhapatnam Steel Plant is popularly known as Vizag Steel.
Former culture secretary Raghavendra Singh sworn in as the director of the Nehru Memorial Museum and Library for the next 6 months, replacing Shakti Sinha. The govt has set a deadline of October 2020 to get the Museum on Prime Ministers of India ready.
Govt is planning revamp of its museums in India.
A subsidiary of RBI- The Deposit Insurance and Credit Guarantee Corporation is to revamp the country’s 50-year-old deposit insurance scheme by the end of this year. DICGC board has started the process and will submit its report to the finance ministry.
It was last revised on 1993 after the collapse of Bank of Karad.
Andhra Pradesh Govt launched a scheme called YSR Navodayam for MSMEs. The scheme aims to bail out MSMEs in the State & provide them financial relief by restructuring their bank loans before March 31,2020. AP CM YS Jagmohan Reddy inaugurated the scheme.
Bank loans up to a ceiling of Rs 25 crores will be restructured.
Madhya Pradesh CM Kamal Nath inaugurated the two-day Magnificent Madhya Pradesh Conference held in Indore. CM also inaugurated the Global Trade Exhibition at the Brilliant Convention Centre, Indore. 223 industries are investing in MP in near future.
Many well-known industrialists are attending the conference.
The govt is set to host the 1st national corporate social responsibility awards on October 29. The awards are intended to encourage best practices in CSR & to recognise the efforts of companies that have utilised funds marked for CSR effectively.
Govt is planning to create “gold standard" of CSR recognition.