Daily News

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RBI releases report on Currency & Finance for the year 2021-22

The Reserve Bank of India has released the Report on Currency and Finance (RCF) for the year 2021-22. The theme of the Report is “Revive and Reconstruct” in the context of nurturing a durable recovery post-COVID and raising trend growth in the medium-term. The Report reflects the views of the contributors and not of the Reserve Bank.

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Hyderabad-based Skyroot Aerospace successfully test fires engine of Vikram-1 rocket

Hyderabad-based space tech startup Skyroot Aerospace announced the successful completion of a full duration test-firing of its Vikram-1 rocket engine, the country’s first privately designed and developed rocket.

Vikram-1 has three solid fuel-powered stages. Each stage has a burn time ranging between 80 and 108 seconds.

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Skyroot co-founder and CEO Pawan Kumar Chandana.

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🥊 Nikhat Zareen becomes world champion after beating Thailand's Jitpong Jutamas

Zareen became the first boxer in 14 years, other than Mary Kom, to win the IBA Women's World Boxing Championship as she defeated Thailand's Jutamas Jitpong in the 52kg final in Istanbul. She is now only the fifth Indian woman to win the world championships in any weight category.

Mary Kom had last won the gold in the 48kg in the 2018 edition.

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12th edition of the IBA Women’s World Boxing Championships took place in Istanbul,Turkey.

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World Bee 🐝 Day : May 20

We celebrate World Bee Day on May 20 across the world. The day aims to recognise the importance of bees and other pollinators in the ecosystem.

This year theme is: “Bee Engaged: Celebrating the diversity of bees and beekeeping systems.”

The United Nations decided to mark May 20 as World Bee Day to commemorate the birth anniversary of beekeeping pioneer Anton Jansa.

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Amritsar-Jamnagar Greenfield corridor to be completed by September 2023

Amritsar-Jamnagar Greenfield corridor, one of the most important Greenfield corridors being developed by NHAI, is being constructed in a full capacity.

The complete corridor is targeted to be completed by September 2023.

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PN Vasudevan resigns as MD & CEO of Equitas Small Finance Bank

P N Vasudevan has resigned as the managing director and chief executive officer Equitas Small Finance Bank.

Vasudevan, notably, is the founder of Equitas and has been associated with its journey as a micro finance institution dating back to 2007. The entity was converted into a bank, under his leadership, in 2016.

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New Development Bank opens regional office in GIFT City

The New Development Bank (NDB) has announced the launch of its Indian Regional Office (IRO) in Gujarat International Finance Tec-City (GIFT City).

The launch of the Bank’s IRO aims to cater to infrastructure and sustainable development needs in India and Bangladesh, contributing to economic growth and sustainable development in South Asia.

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NDB Headquarters at Shanghai (China).
Marcos Troyjo, NDB President.

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Walmart-backed PhonePe set to acquire WealthDesk, OpenQ for $75 million

PhonePe, part of the Walmart Inc-controlled Flipkart group, is acquiring two investment technology platforms – WealthDesk and OpenQ– for a total enterprise value of $75 million.

The acquisitions are a part of PhonePe’s larger game plan to open new revenue streams and diversify its offerings for users of its payment services.

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CCI approves OFB Tech's acquisition of majority stake in SMW Ispat

The Competition Commission of India (CCI) has approved acquisition of majority stake in SMW Ispat Private Limited by OFB Tech Private Limited.

The proposed combination envisages acquisition of majority stake in SMW Ispat Private Limited (SMW Ispat) by OFB Tech Private Limited (OFB Tech),

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CCI approves acquisition by Sanoti Properties LLP of shareholding in Magma HDI General Insurance Company Limited

The CCI approves acquisition by Sanoti Properties LLP (Sanoti/Acquirer) of shareholding in Magma HDI General Insurance Company Limited (Magma HDI/Target) under Section 31(1) of the Competition Act, 2002.

Sanoti is engaged in the business of development of commercial and residential real estate projects.

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CCI clears Serum Institute Life Sciences-Biocon Biologics deal

The Competition Commission of India (CCI) has approved a proposed deal involving Serum Institute Life Sciences, Covidshield Technologies and Biocon Biologics.

Once the deal is complete, Serum Institute Life Sciences Pvt Ltd will have about 15 per cent stake in Biocon Biologics Ltd, according to the notice filed with the regulator.

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GeM inks MoU with Self Employed Women's Association

Government eMarketplace (GeM) and Self Employed Women’s Association (SEWA) inked a memorandum of understanding (MoU) for the advocacy, outreach, mobilisation and capacity-building of last-mile women-led micro and small enterprises and women entrepreneurs.

The MoU was signed by CEO of GeM P. K. Singh and Vice-President of SEWA Rehana Riyawala in New Delhi.

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Cabinet approves amendments to National Policy on Biofuels to make India energy independent by 2047

Union Cabinet has approved the Amendments to the National Policy on Biofuels -2018.

The amendments are intended to allow more feedstocks for the production of biofuels, advance the ethanol blending target of 20 percent blending of ethanol in petrol and promote the production of biofuels in the country.

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National Endangered Species Day 2022: May 20

National Endangered Species Day is observed on May 20, in 2022. The event is held every third Friday in the month of May. It is the 16th National Endangered Species Day this year.

During the 1960s and 1970s, people were concerned about the welfare of animals. The Endangered Species Act of 1973 was enacted in response to public concern.

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2022 Theme is “Recovering key species for ecosystem restoration”.

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Ajay Piramal receives honorary British award from Queen Elizabeth

Ajay Piramal, Chairman of the Piramal Group, has received an honorary Commander of the Order of the British Empire (CBE) award from Queen Elizabeth II.

He received the award for his services to the UK-India trade relationship as the Indian Co-Chair of the UK-India CEO Forum.

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8 Gold, 1 silver, 7 bronze: The complete list of Indian medal 🥇 winners from the 2021 Deaflympics

A total of 16 medals were won over the fortnight-long quadrennial event, including eight gold, one silver and seven bronze. The medals came from five of the 11 sports.

India finished in 9th position on the medal table.

The games were held Caxias do Sul, in southern Brazil.

Ukraine topped the medal 🥇 rankings followed by USA & Iran respectively in 2nd & 3rd place.

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India’s largest contingent ever at a Deaflympics- 65.