RBI has granted the National Asset Reconstruction Company (NARCL), which is seeking to turn around bad loans worth Rs 2 trillion, the licence to register as an asset reconstruction company (ARC).
The approval to the entity has been accorded under Section 3 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002.
Section 3 of the SARFAESI Act states that an entity cannot start the business of securitisation or asset reconstruction without obtaining a certificate of registration, and should have funds of at least Rs 2 crore or an amount not exceeding 15 per cent of the total financial assets acquired or to be acquired by the asset reconstruction company (ARC).
Kotak Mahindra Bank Ltd (KMBL) has received approval from the government for collection of direct & indirect taxes, such as income tax, Goods and Services Tax (GST) etc, through its banking network.
KMBL customers will be able to pay their direct and indirect taxes straight from KMBL's mobile banking or net banking platforms as well as through KMBL's branch banking network.
The Royal Swedish Academy of Sciences has decided to award the 2021 #NobelPrize in Physics to Syukuro Manabe, Klaus Hasselmann, and Giorgio Parisi "for groundbreaking contributions to our understanding of complex physical systems."The Nobel Prize in Physics is awarded by the Royal Swedish Academy of Sciences, Stockholm, Sweden.
John Bardeen- only scientist to have received two Nobel Prizes in the Physics category.
BSE's arm BSE Technologies Pvt Ltd (BSE Tech) has received in-principle approval from the central bank to set up and operate Trade Receivables Discounting System (TReDS).
TReDS is an electronic platform for facilitating the financing/discounting of trade receivables of micro, small and medium enterprises (MSMEs) through multiple financiers.
BSE Technologies Pvt. Ltd. (BSE Tech) is a vibrant and agile setup located at Mumbai.
# PM handed over keys of Pradhan Mantri Awas Yojana - Urban (PMAY-U) houses to 75,000 beneficiaries in 75 districts of Uttar Pradesh.
# Inaugurated/ laid foundation stone of 75 Urban Development Projects of Uttar Pradesh under Smart Cities Mission and AMRUT.
# Flagged off 75 buses under FAME-II for Lucknow, Kanpur, Varanasi, Prayagraj, Gorakhpur, Jhansi and Ghaziabad.
Ethiopian Prime Minister Abiy Ahmed has been sworn in for a new five-year term as his government faces a host of challenges, including a months-long conflict in the northern region of Tigray.
In June, the prime minister’s party won 410 of the 436 parliamentary seats that were contested.
He won the 2019 Nobel Peace Prize for restoring ties with neighbouring Eritrea.
Ethiopia- Capital: Addis Ababa; Currency: Ethiopian birr
Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy launched the 'Swechha' program to tackle the stigma attached to menstruation, prioritize female personal hygiene, and encourage a healthy dialogue of information.Under the initiative, the state government will provide quality branded sanitary napkins to female students at government educational institutions, free of cost.
Andhra Pradesh Governor:- Biswabhusan Harichandan
Bharti Airtel has conducted a 5G network trial in partnership with Ericsson in a rural landscape, achieving a speed of over 100 Mbps on a smartphone, which was able to connect to the network at a distance of over 10 km from the site. A fixed wireless access (FWA) device at a distance of 10 km from the site recorded a speed of over 200 Mbps.
The trial took place in Bhaipur Brahmanan village on the outskirts of Delhi-NCR.
Union Law Minister Kiren Rijiju inaugurated the country's first "Sports Arbitration Centre of India" in Gujarat which will serve as an independent body to fast track disputes in the sports sector.
The SACI is promoted by Ahmedabad-based SE TransStadia Pvt Ltd as an independent body to fast track disputes in the sports sector.
A variety of rice widely grown in Wada in the Palghar district of Maharashtra has been given a ‘Geographical Indication’ (GI) tag, which will give it a unique identity as well as wider markets.Wada Kolam, also known as Zini or Jhini rice, is a traditional variety grown in Wada tehsil of Palghar, with the grain being off white in colour.
It is priced between Rs 60-70 per kg.
The World Trade Organization (WTO) has projected that the global merchandise trade volume will grow 10.8 per cent this year, higher than 8 per cent estimated in March (followed by a 4.7 per cent rise in 2022).
Growth should moderate as merchandise trade approaches its pre-pandemic long-run trend and supply-side issues such as semiconductor scarcity & port backlogs.
WTO- HQ: Geneva, Switzerland;
Founded: 1 Jan1995;
Director General: Ngozi Okonjo-Iweala
The Russian military had successfully test-fired a hypersonic "Tsirkon" missile from a submarine for the first time. Hypersonic missiles fly much faster and are more agile than standard ones, making them much more difficult for missile defense systems to stop. The U.S. military conducted its first flight test of a hypersonic missile system in 2011.
The missile was launched from the Severodvinsk nuclear submarine, Barents Sea.
8th edition of India-Sri Lanka bilateral Joint Exercise, Mitra Shakti, started at Combat Training School, Ampara, in Sri Lanka.
The aim of the exercise is to promote close relations between armies of both countries and enhance inter-operability and sharing best practices in counter-insurgency and counter-terrorism operations.
Mitra Shakti translates to ‘power of friendship’, is carried out under a UN mandate
Hockey India announced that Lakra, who represented India in 201 international games as a defender, has retired from the sport with immediate effect.The 31-year-old Lakra, a defender, was part of India's bronze medal-winning side in the Tokyo Olympics. He was also part of the 2014 gold medal-winning Incheon Asian Games team and the side that claimed bronze in 2018 Jakarta.
The fifth edition of India-Japan Maritime Bilateral Exercise, JIMEX, between the Indian Navy and the Japan Maritime Self-Defence Force, will be held in Arabian Sea.Indigenously built Guided Missile Stealth Destroyer Kochi & Guided Missile Frigate Teg, under the command of Rear Admiral Ajay Kochhar, Flag Officer Commanding Western Fleet, will represent the Indian Navy.