Daily News

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Steel Authority of India Limited (SAIL) gets Golden Peacock Environment Management Award 2020.

SAIL was awarded the Golden Peacock Environment Management Award for 2020 in the Steel Sector by Institute of Directors. SAIL, as its Corporate Responsibility for Environment Protection continuously focuses on adopting various environmental measures.

Did you Know

SAIL won this last year as well.

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SBI revises FY21 GDP growth estimate to -7.4% from -10.9% in its Ecowrap report.

SBI report upgraded India's GDP forecast from -10.9% to -7.4% for FY21 and said it would take 7 quarters from the 4th quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms. It forecast FY22 GDP growth to be at 11 percent.

Did you Know

Estimates based on SBI ''Nowcasting Model'' with 41 indicators.

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Mumbai, the most expensive Indian city for expats once again, dropped 34 places: ECA's International Cost of Living Report 2020

Mumbai dropped 34 places and was placed 94th most expensive city for expatriates. New Delhi - 144, Bengaluru -174,Hyderabad -177 & Kolkata-179. Globally, Hong Kong is at No.1, Tokyo - 2nd, New York- 3 & Geneva at 4th place.

Did you Know

Luanda in Angola plunged 104 places from 37 to 141.

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RBI announces opening of 2nd cohort under Regulatory Sandbox(RS) with theme of 'Cross Border Payments'.

RBI announced opening of 'Cross Border Payments' cohort & reduced net-worth requirement for entities interested in participating from Rs.25 lakh to Rs.10 lakh. India is the largest recipient of inbound remittances, accounting for 15% of global share.

Did you Know

'MSME Lending' is the theme for the third cohort.

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SEBI approves new shareholding norms for listed companies under Corporate Insolvency Resolution Process (CIRP).

SEBI approved new shareholding norms for CIRP companies & decided to give relaxation in minimum promoter contribution in follow-on public offer. Firms should have at least 5% public shareholding during admission to dealing on the stock exchange.

Did you Know

CIRP is a recovery mechanism in Insolvency and Bankruptcy Code.

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SEBI paves way for fintech startups to apply for mutual fund(MF) licenses by relaxing norms.

SEBI said that sponsors not meeting profitability criteria can apply for MF licenses. Earlier regulations required both profitability track-record of sponsor and minimum net-worth of Rs 50 crore.Relaxation will help fintechs to get into MF business.

Did you Know

Some active Fintechs - PayTM, Zerodha, Groww and Kuvera.

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Shashi Shekhar Vempati,CEO of Prasar Bharati elected Vice President of Asia Pacific Broadcasting Union (ABU).

Shashi Vempati was elected as VP of ABU, one of the largest broadcasting associations in the world, for a 3 year term. ABU formed in 1964 is a professional association of broadcasting organisations with over 286 members in 57 countries and regions.

Did you Know

Prasar Bharati:
Founded - Nov 1997;
HQ - New Delhi.

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Government of India and World Bank sign $400 million project to protect India’s poor from the impact of COVID-19

$400 million project to support India’s efforts at providing social assistance to the poor and vulnerable households severely impacted by the Covid-19 pandemic was signed between GoI and WB. $750 million was approved in May 2020 under the programme.

Did you Know

WB:
President - David Malpass;
Country Dr,India - Junaid Ahmad.

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Centre, NDB sign $1 billion loan pact to support India's economic recovery from COVID-19 pandemic

The loan of $1,000 million from NDB will support the Government of India’s efforts in mitigating the economic impact of the COVID-19 & enable economic recovery in the rural areas through NRM works & employment generation under MGNREGS.

Did you Know

NDB:
President - Marcos Prado Troyjo;
HQ - Shanghai, China

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India and Bangladesh to reopen Chilahati-Haldibari rail link after nearly 55 years.

India & Bangladesh will reopen the Chilahati-Haldibari rail link after nearly 55 years with an aim to enhance transport & connectivity between the two. It was cut off during the 1965 India-Pakistan war. There are 6 pre-1965 rail links between the two.

Did you Know

4 of 6 rail links are operational already.

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NPCI adds offline transactions feature in RuPay cards, reloadable wallet facility for retail payments.

NPCI has enabled an offline payments feature on RuPay Contactless cards, which provides reloadable wallets within the Card.The RuPay NCMC (National Common Mobility Card) offline wallet can be used to make ticket payments in transit like in metros,cabs etc.

Did you Know

Head of RuPay & NFS, NPCI - Nalin Bansal

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BSE Ebix Insurance Beta Launches Term Insurance for ICICI Prudential Life on its On-Demand Hi-Tech Platform.

BSE Ebix, a joint venture of BSE & Ebix Fincorp, beta launched term Insurance for ICICI Prudential Life Insurance on its hi-tech platform. With this, BSE Ebix now has the ability to handle insurance sales across both Term & Endowment lines.

Did you Know

CEO:
BSE - Ashishkumar Chauhan;
Ebix Group - Robin Raina

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SBI General Insurance, IntrCity RailYatri (a multi-modal intercity mobility platform), partner to offer ₹5L travel cover.

SBI General Insurance partnered with IntrCity RailYatri, to provide travel insurance of ₹5 lakh on tickets for bus commuters opting to travel through IntrCity RailYatri. Coverage include accidental death, permanent total disability, and medical evacuation.

Did you Know

CEO:
SBI General - PC Kandpal;
IntrCity RailYatri - Manish Rathi

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India drops two ranks, stands at 131: UNDP's Human Development Index 2020.

India's HDI value for 2019 is 0.645 and was ranked 131 out of 189 countries. India's gross GNI per capita on the basis of purchasing power parity (PPP) fell from $6,829 in 2018 to $6,681 in 2019. Norway topped the index, followed by Ireland & Switzerland.

Did you Know

Medium human development - ranks from 120 to 156.

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Hyderabad’s Nehru Zoological Park gets ISO quality management standards( QMS)certification from the UK.

Nehru Zoological Park has become the first zoo in India to acquire ISO 9001:2015 QMS Certification. It was assessed on the basis of sanitisation, food processing, animal breeding, medicare, animal care, hygiene maintenance and establishment.

Did you Know

ASCB, United Kingdom gave the certification.

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Chinese lunar capsule of Chang'e 5 probe returns to Earth carrying moon rocks, first in more than 40 years.

A Chinese lunar capsule has returned to Earth with the first fresh samples of rock and debris since the former Soviet Union’s Luna 24 robot probe in 1976. The samples come from a part of the moon known as the Oceanus Procellarum, or Ocean of Storms.

Did you Know

In July 2020, China launched the Tianwen 1 probe to explore Mars

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Qatar to host 2030 Asian Games, 2034 edition in Saudi Arabia.

The hoeting of 2030 Asian Games were awarded to Qatar & 2034 to Saudi Arabia. The Qatari capital of Doha beat Saudi Arabian counterpart Riyadh for the 2030 Asian Games in the vote at the Olympic Council of Asia's general assembly.

Did you Know

Qatar is also the host of the 2022 World Cup.

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Citibank And NCPA Partner To Offer Hindustani Music Scholarships To Young Musicians.

Since 2009, National Centre for the Performing Arts with Citi has been offering scholarships to young promising students who seek advanced training in Hindustani music (vocal & instrumental). This year it is for khayal/dhrupad & tabla/pakhawaj.

Did you Know

NCPA was founded in 1969 by JRD Tata and Dr. Jamshed Bhabha.

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Mauritian badminton player Foo Kune banned for two years by CAS.

Court of Arbitration for Sport (CAS) has banned Mauritian badminton player Kate Jessica Foo Kune for 2 years for an anti-doping violation.She tested positive for a banned steroid during 2019 African Badminton World Championships in Port Harcourt, Nigeria.

Did you Know

CAS:
President - John Coates;
HQ - Lausanne (Switzerland).

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BP acquires majority stake in carbon offset developer Finite Carbon.

Energy giant BP announced it has acquired a majority stake in Finite Carbon, the largest developer of forest carbon offsets in the US. Finite Carbon develops projects that allow landowners to generate revenue sustainable management of forests.

Did you Know

The investment will deliver $1 billion to landowners by 2030.

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CCEA approves Rs 6700 crore North East power system strengthening scheme.

CCEA approved Rs 6700 crore scheme for power system improvement in North East Region. Economic development through strengthening of intra - state transmission and distribution systems is aimed.Funded by World Bank and Ministry of Power on 50:50 basis.

Did you Know

It is to be commissioned by December 2021.

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WHO & International Federation of Red Cross and Red Crescent Societies (IFRC) sign MoU on emergency medical teams

WHO & IFRC signed a MoU(Red Channel Agreement) to cooperate on implementing the Emergency Medical Team (EMT) initiative. It will bring synergies to health emergency response between them, particularly in technical standards, accountability & coordination.

Did you Know

WHO DG - Tedros Adhanom;
IFRC President - Francesco Rocca.

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India’s 1st LGBT+ workplace equality index, 'India Workplace Equality Index' (IWEI),launched.

IWEI, 1st comprehensive benchmarking tool to measure LGBT+ inclusion at the workplace was launched. From the 65 firms competing,21 won gold,18 silver & 13 bronze. Launched by Keshav Suri Foundation with Pride Circle, Stonewall UK & FICCI.

Did you Know

Godrej Group & Hindustan Unilever won in gold.

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BSE Rolls Out Electronic Spot Platform 'BSE E- Agricultural Markets Limited' or BEAM For Agri Commodities.

BSE launched BEAM an electronic spot platform for agricultural commodities, through its subsidiary BSE Investments Limited. BSE witnessed a trading of 2 tons of imported almonds worth more than ₹ 6 lakh on the launch day.

Did you Know

BSE,MD and CEO - Ashish Kumar Chauhan.

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Kotak Mahindra Life launches outdoor campaign for its health insurance product ‘Kotak Health Shield’

Kotak Life launched a 5-city outdoor campaign to increase awareness about its recently Kotak Health Shield product.It offers a comprehensive insurance plan covering early or major stage illnesses.5 cities are Bangalore, Chennai, Kolkata, Ahmedabad & Pune.

Did you Know

Kotak Life Insurance:
MD: G. Murlidhar;
HQ -Mumbai.

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Mega Leather Park With Rs 5,850 Cr Investment To Come Up In UP's Kanpur, To Create 50,000 Jobs.

Mega leather park to come up in Ramaipur village of Kanpur with an investment of Rs 5,850 crores. The park, part of the mega leather cluster project will create 50,000 direct jobs & indirect employment for 1.5 lakh people.

Did you Know

UP will be 1st state in India to establish a leather park.