India has joined Organisation for Economic Co-operation and Development (OECD) and the G20 Inclusive Framework tax deal.
The proposed solution consists of two components- reallocation of an additional share of profit to the market jurisdictions and minimum tax subject to tax rules.
OECD HQs: Paris, France;
Founded: 30 September 1961.
International Day of Cooperatives is celebrated on the first Saturday of July every year. The aim is to increase awareness on cooperatives and promote the movement's successes and ideals of international solidarity, economic efficiency, equality, and world peace.
Theme 2021: "Rebuild better together"
The Ministry of Youth Affairs & Sports has decided to grant recognition to WAKO India Kickboxing Federation as NSF for promotion and development of the Kickboxing sport in India.
WAKO India Kickboxing Federation is affiliated to the World Association of Kickboxing Organizations (WAKO), which is the International Federation for the sport of Kickboxing.
CRPF has signed a MoU with Centre for Development of Advanced Computing C-DAC.
The MoU aims at augmenting the technical capabilities of CRPF by training its manpower in advanced areas like Internet of Things (IoT), Cyber security, Artificial Intelligence, High-Performance Computing and Big Data Analytics.
DG CRPF: Kuldiep Singh;
DG C-DAC: Dr. Hemant Darbari.
Atul Keshap took charge as United States' new envoy to India. He most recently served as the Principal Deputy Assistant Secretary of State for the Bureau of East Asian and Pacific Affairs and as the US Ambassador to Sri Lanka and the Maldives.
Government has decided to bring retail and wholesale trade under the ambit of MSME. It has issued revised guidelines to include retail and wholesale trade as MSME and extending to them the benefit of priority sector lending under RBI guidelines. With the revised guidelines the retail and wholesale trades will now be allowed to register on Udyam Registration Portal.
Udyamregistration.gov.in is the only Government Portal for registration of MSME (Udyam).
Uttarakhand CM Tirath Singh Rawat has handed over his resignation to Governor Baby Rani Maurya. He replaced Trivendra Singh Rawat as CM of the state on 10 March and is the Lok Sabha MP from Pauri Garhwal. Considering the constitutional crisis he resigns from the post.
The RBI has tweaked the norms for interest on the amount left unclaimed with the bank after a term deposit matures.
It has decided that if a term deposit matures and proceeds are unpaid, the amount left unclaimed with the bank shall attract rate of interest as applicable to savings account or the contracted rate of interest on the matured TD, whichever is lower.
New norms are applicable on commercial banks, SFBs, local area banks & Co-op banks.
Prahlad Singh Patel virtually hosted the 6th BRICS Culture Ministers’ Meeting. In the meeting, it was agreed upon to strengthen & enhance cultural co-op. amongst BRICS Nations in fields of museums, art galleries, theatre, libraries and promote the use of modern technologies to conduct online events to overcome adverse effects of pandemic-like situations.
BRICS is an acronym for Brazil, Russia, India, China, and South Africa.
Karsten Warholm, a 25-year-old athlete from Norway, broke the long-standing world record in the 400m hurdles during the Bislett Games. Earlier the record was held by American hurdler Kevin Young for 29 years. His mark of 46.78 seconds was set at the 1992 Olympics in Barcelona, Spain, which was finally broken with an official time of 46.70 seconds by Warholm.
Andhra Pradesh has started a programme to transform foundational learning in government schools for which the World Bank has approved a loan of 250 million dollars.
The main objectives of the programme called Supporting Andhra’s Learning Transformation (SALT) are strengthening foundation schools and providing training and skill development to teachers.
India has recorded the highest ever merchandise export in the first quarter of April to June this year despite the severity of the second wave of the COVID-19 pandemic. Also, the country has also received the highest ever Foreign Direct Investment of 81.72 billion US dollars in the last financial year.
India has set a target of 400 billion US dollars merchandise exports in the current FY.
Started by Zero Waste Europe, International Plastic Bag Free Day is observed globally on 3 July. The purpose of observing this day is to raise awareness against the use of this often non-biodegradable material which causes harm to our environment. The organization aims to eliminate single-use plastics from daily use.