Daily News

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Prolonged closure of schools may cost India $400 billion: World Bank

According to World Bank report titled ‘Beaten or Broken? Informality and Covid-19 in South Asia’, prolonged closure of schools in India could cost $400bn in future earnings. Report stated that around 55 lakh students may drop out of the education system.

Did you Know

World Bank's HQs: Washington D.C., US;
Founded: July 1944.

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PM Modi release autobiography of Dr. Balasaheb Vikhe Patil

PM released the autobiography of Dr. Balasaheb Vikhe Patil titled ‘Deh Vechwa Karani’ which means dedicating one’s life for a noble cause & renamed the Pravara Rural Education Society as Loknete Dr. Balasaheb Vikhe Patil Pravara Rural Education Society.

Did you Know

Pravara Rural Education Society was established in 1964.

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PepsiCo to set up greenfield potato chips production unit in UP with investment of Rs. 814 crore

Multi-national food & beverage major PepsiCo is setting up a greenfield potato chips production unit in UP with an investment of ₹814cr. MoU was signed by PepsiCo to set up this project at UP Investors Summit-2018. Unit is being set up in Kosi – Mathura.

Did you Know

Uttar Pradesh's Capital: Lucknow;
CM: Yogi Adityan.

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World Standards Day: 14th October

Each year on 14 October, members of IEC, ISO & ITU celebrate World Standards Day for paying tribute to the collaborative efforts of thousands of experts worldwide who develop the voluntary technical agreements that are published as International Standards

Did you Know

2020 Theme: Protecting the planet with standards

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Microsoft and AICTE collaborate to skill students and educators in next generation technologies

Microsoft has partnered with All India Council For Technical Education to empower learners and educators in new-age technologies, including artificial intelligence (AI), Internet of Things (IoT), data science, and cloud computing.

Did you Know

AICTE Founded: November 1945;
HQs: New Delhi.

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IMF projects India’s GDP to contract 10.3% in 2020

International Monetary Fund projected India’s GDP to plunge in FY21 by 10.3%, revised down since its June forecast of 4.5% drop, reflecting a severe-than-anticipated contraction in economic activities in the 1st quarter as a result of nationwide lockdown

Did you Know

IMF HQs: Washington D.C., U.S;
Founded: 27 December 1945.

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Developed sustainable antimicrobial food wrapper: IIT Madras

IIT Madras have developed a sustainable antimicrobial wrapping material that can prevent packaged food contamination by bacteria and is biodegradable. Films developed by an IIT team were made with polymeric blends containing starch, polyvinyl alcohol, etc.

Did you Know

At present, there are 23 IITs in India.

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Exim Bank extends USD 400 million soft loan to Maldives for financing connectivity project

Export-Import Bank of India on behalf of GOI has extended a Line of Credit of $400mn soft loan to Maldives to finance a connectivity project in the nation of islands. Exim Bank has extended 3 LoCs worth a cumulative $1.2bn to Maldives on behalf of India.

Did you Know

Maldives Capital: Malé;
Currency: Maldivian rufiyaa.

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Kaumudi Munshi, The Nightingale Of Gujarat Passes Away At 93

Kaumudi Munshi, leading singer of Gujarati Sugam Sangeet, known as the "Nightingale of Gujarat", passed away at the age of 93. Munshi was trained under legendary thumri exponent, Siddheshwari Devi. For 5 years, she trained for ghazals under Taj Khan.

Did you Know

Sarojini Naidu is known as the Nightingale of India.

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Digital payments grew at 55% CAGR in the last 5 yrs: RBI

RBI revealed that Digital payments have grown at a compounded annual growth rate (CAGR) of 55.1% between FY16-FY20. The transactions grew from 593.61 crore in the year to March 2016 to 3,434.56 crore in the year to March 2020.

Did you Know

HQs: Mumbai;
Founded: 1 April 1935.

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Axis Bank launches ACE Credit Card, in collaboration with Google Pay & Visa

Axis Bank in collaboration with Google Pay & Visa launched ACE Credit Card with aim of increasing participation of users in digital economy. For essential use cases, including recharges & bill payments made via Google Pay users can earn a cashback of 5%.

Did you Know

Axis Bank CEO: Amitabh Chaudhry;
HQs: Mumbai;
Founded: 1993.

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LA Lakers become NBA champions for first time since Kobe's final title a decade ago

LA Lakers defeated Miami Heat to win the NBA finals in six games. This is LA Lakers' first NBA title win since late Kobe Bryant's final title with them a decade ago. LeBron James was named Most Valuable Player of the NBA finals for a fourth time.

Did you Know

NBA Commissioner: Adam Silver;
Founded: 1946.

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RBI to discontinue system-based automatic caution-listing of exporters

To provide flexibility to exporters in realisation of export proceeds, RBI has discontinued the system-based automatic caution-listing of exporters. Export Data Processing & Monitoring System, Caution/De-caution Listing of exporters was automated in 2016.

Did you Know

25th RBI Governor: Shaktikanta Das.

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Bihar Minister Vinod Singh passes away

Bihar Minister for Backward and Extremely Backward Classes Welfare Vinod Singh passed away. Mr. Singh, 50, was BJP MLA from Pranpur Assembly constituency of Katihar district in northeast Bihar. He has been elected MLA thrice from the constituency.

Did you Know

Bihar CM: Nitish Kumar;
Capital: Patna.

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Prince William and Sir David Attenborough launches Earthshot Prize for environmental solutions

Prince William & Sir David Attenborough has launched Earthshot Prize, which offers £50m in funding for solutions to environmental & climate crises. Aim of the prize is to provide an incentive to find solutions to repair the planet over the next decade.

Did you Know

5 £1m prizes will be awarded every year.

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Climate change to blame for doubling of disasters : UN

UNDRR in its report entitled "The Human Cost of Disasters 2000-2019" stated that Climate change is largely to blame for a near doubling of natural disasters in past 20 yrs. The Report did not touch on biological hazards & disease-related disasters.

Did you Know

7,348 major disaster events had occurred between 2000 and 2019

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Mastercard partners with Signzy for global rollout of video KYC

Mastercard announced a partnership with Signzy, a RegTech startup, to enable video-based KYC solutions for its banking customers. This will allow Mastercard to provide a completely paperless, remote, and secure onboarding solution for end-users.

Did you Know

Mastercard CEO: Ajaypal Singh Banga;
HQs: New York, US.

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Hughes India selected to connect remotely located panchayats with satellite broadband

Govt has selected Hughes India to connect 5,000 village panchayats in border & Naxal-affected states and island territories with satellite broadband under BharatNet project. Hughes will enable Internet service using capacity from ISRO's GSAT-19 and GSAT-11

Did you Know

The completion of the project is expected by March 2021.

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Govt agrees to extend subsidy of 50 % on transportation of notified fruits & vegetables through Kisan Rail trains

Ministry of Food Processing Industries has agreed to extend a subsidy of 50% on transportation of notified fruits & vegetables through Kisan Rail trains, under 'Operation Greens - TOP to Total.' Ministry will initially provide ₹10cr to operate scheme.

Did you Know

The Fund will be deposited with South Central Railway.