Asian Development Bank (ADB) announced a 100 mn. US Dollars funding for the Indian infrastructure sector through the government-promoted National Investment and Infrastructure Fund-NIIF.ADB has been funding Indian private equity funds for over two decades.
ADB President: Takehiko Nakao; Headquarters: Manila
Centre has extended June 30 the validity of documents like driving licenses, permits etc that expired since February 1. The decision was taken to facilitate the citizens facing difficulties in renewing the validity of documents related to the Motor Vehicle
The Motor Vehicles Act-1988 was amended in 2019.
The government has extended the Premium payment period for Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) up to 30th of April without charging any penalty. The decision is likely to benefit approximately 13 lakh policy holders.
Postal Life Insurance comes under the Ministry of Communications
Government has extended the benefit of 2% Interest Subvention to Banks and 3% Prompt Repayment Incentive to all farmers up to 31 May ‘20. The interest subsidy has been extended to all crop loans up to ₹ 3 L which have become or becoming due b/w Mar & May.
Minister of Agriculture: Narendra Singh Tomar
India’s direct tax collection for the current fiscal year is likely to see a whopping shortfall of about Rs 1.5 trillion. The income tax department estimates total collection to be between ₹10.5 tn and ₹10.7 tn against the revised target of ₹11.7 trillion.
Govt had set a target of ₹13.5 trillion for FY20.
National Gallery of Modern Art has celebrated 66 years by launching virtual tour of its permanent collection for the visitors to enjoy without having to physically visit the Museum amid lockdown. It is for the first time that a virtual tour is provided.
Director-General of National Gallery of Modern Art: Adwaita Gada
The Ministry of Corporate Affairs (MCA), has introduced the "Companies Fresh Start Scheme, 2020" and revised the "LLP Settlement Scheme, 2020" to provide relief to law-abiding companies and Limited Liability Partnerships (LLPs).
It gives longer time to comply with filing requirements.
The Assam government has decided to provide 1 thousand rupees each to 2.78 lakh construction workers and poor without NFSA and ration cards who had to suffer due to lockdown and also decided to give free rice to around 58 lakh BPL households.
NFSA’13 aims to provide subsidized food grains to people.
Madhya Pradesh government has transferred around 88 crore rupees in the accounts of registered construction workers of the state. CM Shivraj Singh Chouhan told the construction workers that the government stands with them during this time of crisis.
Iqbal Singh Bains is the New Chief Secretary of Madhya Pradesh.
The Jharkhand Government has launched a mobile app PRAGYAAM to issue e-passes to everyone associated with the delivery of essential services during the national lockdown to combat COVID-19.
Governor of Jharkhand: Draupadi Murmu
Australia announced a 130-billion-dollar package to support the wages of up to 6 million citizens in the country affected by the COVID-19. The government pay wage subsidies of 1,500 Australian dollars every two weeks per employee to keep people employed.
Australia Prime Minister: Scott Morrison
Expo 2020 is a World Expo to be hosted by Dubai in the UAE, scheduled to be opened on 20th October 2020. The event could be postponed in the light of COVID – 19. The Bureau International des Expositions (BIE) and Dubai organisers to establish the change.
World Expo 2020 Theme: Connecting Minds; Creating the Future.
RBI will issue a certain series of government securities (G-secs) under the ''fully accessible route''. These special securities will attract FPI limits until maturity and are the first step towards Indian G-Secs being listed on global bond indices.
Issuances of G-secs from FY21-eligible as specified securities.
With nearly 75 per cent of the Indian economy in lockdown, Nomura has lowered 2020 GDP growth forecast to -0.5 per cent YoY from 4.5 per cent. The growth is expected to fall to -6.1%, according to an economist in Nomura.
Nomura is a Japanese financial holding company.
India Ratings (Ind-Ra) cut its FY21 growth forecast to 3.6 per cent amid COVID-related worries. It has assumed that a full or partial lockdown will continue till the end of April and economic activities will be restored only after May.
Ind – Ra, a credit rating agency is headquartered in Mumbai.
Fitch Solutions slashed its estimate for India's GDP growth in 20-21 to 4.6% due to weaker private consumption and contraction in investment amid coronavirus outbreak. The growth estimate for FY compares with a 4.9% forecast in the current 2019-20.
Recession - a fall in GDP in two successive quarters.
Johnson & Johnson signed an agreement with the US govt’s Biomedical Advanced research to invest $1 bn in an effort to create a vaccine by September 2020. J&J began working on the investigational vaccine, Ad26 SARS-CoV-2 in Jan using the same technology.
J & J CEO: Alex Gorsky
Manolis Glezos, a prominent Greek was most famous for scaling the steep walls of the Acropolis with a friend in 41 to take down the Swastika and replace it with the Greek's. It was the first visible act of resistance against the Nazis, who occupied Greece.
In 2014, Glezos was elected to the European Parliament.
Air Vice-Marshal (AVM) Chandan Singh (retired), 95, who played a pivotal role in transport operations during the 1962 war between India and China, and who was instrumental in helicopter operations during the 1971 Liberation War of Bangladesh passed away.
The Air Vice-Marshal received a Maha Vir Chakra and a Vir Chakra
Bharti Infratel re-appointed D.S Rawat as the Managing Director & CEO.He has been appointed for a period of up to 6 months i.e. w.e.f. April 1, 2020, up till Sep 30, 2020, or up till the ensuing Arumal General Meeting of the Company, whichever is earlier.
Bharti Infratel Ltd. was incorporated in the year 2006.
ICICI Bank announced the launch of banking services on WhatsApp to enable its retail customers to undertake a slew of banking requirements from their home. ICICI Bank launched this new service on WhatsApp close on the heels of rolling out 'ICICIStack'.
ICICI Bank CEO: Sandeep Bakhshi.
BharatPe has partnered with ICICI Lombard to roll out 'COVID-19 Protection Insurance Cover' for shopkeepers.This policy on a diagnosis of COVID-19 (+ve) will pay 100% of the sum insured, irrespective of hospitalization expenses.
Ashneer Grover, CEO & Co-Founder, BharatPe.
RBI proposed to change the convenors of State Level Bankers' Committee (SLBC).Following the merger, PNB will become the SLBC convenor of Delhi.For Tripura and West Bengal too, convenorship will be transferred to PNB from United Bank of India.
MD & CEO Of Punjab National Bank- Sh CH. S. S. Mallikarjuna Rao.
The new SLBC convenor for Andhra Pradesh will be Union Bank of India as Andhra Bank is being amalgamated with the Mumbai-based lender. Even for Karnataka, Syndicate Bank will transfer the responsibility to Canara Bank which is going to acquire the former.
SLBC came into existence under Lead Bank Scheme of 1969.
India will raise Rs 4.88 lakh crore through gross market borrowings in the first six months(from April and September) of the financial year ending March 2021. India’s first debt ETF of government securities will be rolled out in the second half of FY21.
Economic Affairs Secretary, Atanu Chakraborty.
The US condensed-matter physicist Philip Warren Anderson died aged 96.Anderson’s theoretical research into the electronic structure of magnetic and disordered systems led to an improved understanding of metals and insulators.
He was awarded the Nobel Prize for Physics in 1977.
