Digital Payments Major PayTm named Vineet Arora as its MD, CEO as its MD, CEO of Paytm General Insurance. Arora served as the MD, CEO of Aegon Life Insurance Company.
He will lead the efforts to provide industry-leading solutions.
MNRE appointed the Indian Renewable Energy Development Agency (IREDA) as the implementing agency for the ministry’s CPSU Scheme Phase II, which is aimed at setting up of 12,000MW grid-connected solar PV power projects with Viability Gap Funding support.
VGF – One-time grant to support infrastructure projects.
To liquidate pending dues of last financial year the centre has released Rs 7,300 crores to States and UTs under MGNREGS. Also, under PM Awaas Yojna (Gramin) Rs 800 cr has been released to the states.
Rural Development Minister: Narendra Singh Tomar.
In South Korea, President Moon Jae-In’s left-leaning party won an absolute majority in Parliamentary elections. According to the results declared by the National Election Commission, the Democratic party and its allies took 180 seats out of 300.
South Korea Capital: Seoul.
Currency: South Korean Won.
Cash strapped Infrastructure Leasing & Financial Services (IL&FS) sold its 100% stake in IL&FS Wind Power Services Ltd(IWPSL) to Orix Corporation of Japan for Rs 6.05 cr. IWPSL is a wholly-owned subsidiary of IL&FS Energy Development Company.
IWPSL, classified as a ‘green company’ has no outstanding debt.
Tamas Ajan has resigned as President of the International Weightlifting Federation during an ongoing corruption investigation. Ajan, from Hungary, has been serving as the President for 20 years.
Ursula Papandrea, first woman to lead IWF, is Acting President.
The Mascot for the 4th Asian Para Games starting in October was unveiled. The design of ‘FeiFei’ is inspired by the motif of the Divine Bird in the Liangzhu culture. It is also viewed as a messenger of joy and cultural distinction.
The Para Games will be held in October featuring 22 sports.
5-time world champion Viswanathan Anand is the new Ambassador for World Wide Fund (WWF) India’s Environment Education Programme. Environment Education reaches out to children & citizens to create environmentally conscious children.
It impacts over 5 million children across 2000 schools.
India’s limited-overs Vice-Captain Rohit Sharma is the brand ambassador of ‘CricKingdom’, a cricket academy based in Dubai. It seeks to merge time tested theories along with modern scientific technologies.
It has Mumbai medium pacer Dhawal Kulkarni as one of its mentors
HDFC Bank launched #HDFCBankSafetyGrid to reinforce #SocialDistancing. Using the outer grid, the bank has created physical markers on the ground to help maintain Social distancing while waiting in a queue at a shop.
HDFC Bank CEO: Aditya Puri.
Joining a series of other banks such as HDFC, Axis, ICICI, Kotak Mahindra Bank announced the launch of its first ‘ATM on Wheels’ service. This will bring cash withdrawal facility to various neighbourhoods. It is presently operational in Mumbai.
Kotak Mahindra Bank CEO: Uday Kotak.
HQ: Mumbai.
SBI has estimated the real GDP growth for the current FY at 1.1% and the nominal GDP growth at 4.2%. The earlier forecast for GDP growth for FY21 was 2.6%. It has also estimated the overall loss for FY21 at about Rs 12.1L cr.
SBI Head Office: Mumbai.
In IMF’s blog titled ‘COVID-19 Pandemic and the Asia-Pacific Region: Lowest Growth since the 1960s, it has noted that Asia is expected to witness 0% growth in 2020 and that this is the worst performance in almost 60 years.
Asia to fare better than other regions in terms of activity:IMF.
Panel under IBBI chairman has suggested to set up a national body for valuation professionals. The proposed cadre of valuers (like chartered accountants, etc) will include both the current practitioners and freshers wishing to have a career in valuation.
Insolvency & Bankruptcy Board of India(IBBI),Founded in 2016.
Centre for Nano and Soft Matter Sciences(CeNS) developed a portable device which can help onsite detection of heavy metal ions in remote areas. It can detect lead ions down to 0.4 parts per billion (ppb) for onsite detection.
CeNS is located in Bangalore, Karnataka.
Veteran Actor, Ranjeet Choudhry died in the US. He was a part of Hindi Classic movies like Khubsoorat, Khatta Meetha, etc., He was also a part of popular American Drama Prison Break.
Ranjit’s last Bollywood film was Kaante.
Paytm Payments Bank will now issue Mastercard Debit Cards to its account holders to enable them to perform online transactions, payments in stores & to withdraw from ATMs. It is to start by issuing virtual cards for safer transactions.
Paytm CEO: Vijay Shekhar Sharma.
The Gartner 2019 Digital Workspace Survey found that India is the most digitally dextrous country in the world followed by UK and USA due to having the largest GenZ workforce along with a desire to learn new skills.
27% of digital workers in India skilled for the work in tech.