Daily News

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Australia announces commitment of A$5.8 million for Critical Mineral partnership

India and Australia strengthened cooperation on the development of critical minerals projects and supply chains following a meeting between Resources and Northern Australia Minister Madeleine King and her Indian counterpart, Pralhad Joshi.

King announced Australia would commit A$5.8 million to the three-year India-Australia Critical Minerals Investment Partnership.

Did you Know

Pralhad Joshi. Minister for Parliamentary Affairs, Coal and Mines.

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Prime Minister Narendra Modi launches multiple digital portals at Digital India Week 2022;

Inaugurating the Digital India Week 2022 at Gandhinagar, Gujarat, PM Modi also launched multiple portals: national single sign on for one citizen portal 'Meri Pehchaan', key projects repository website 'IndiaStack.Global' & service discovery platform MyScheme.

He also launched ‘Digital India Bhashini’ and ‘Digital India GENESIS’.

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Theme is: ‘Catalyzing New India’s Techade’ and an ebook was released on the same name.

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First 30 institutions selected for Chip to Startup scheme announced at Digital India Week

PM Modi announced the cohort of 30 institutions that will be supported under the Chip to Startup(C2S) programme under the India Semiconductor Mission.

Institutions will be empowered to train 85,000 specialised manpower in semiconductor design at bachelors, masters and research levels.

C2S aims to facilitate 175 ASICs, 30 IP cores, 20 systems and 25 startups over 5 years.

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Neelachal Ispat Nigam Limited strategic disinvestment transaction completed

Neelachal Ispat Nigam Limited(NINL) Strategic Disinvestment transaction has been completed with the transfer of 93.71% shares of the Joint Venture Partners (4 CPSEs and 2 Odisha Govt. PSUs) to the Strategic Buyer, M/s Tata Steel Long products Limited.

The Enterprise Value paid by the Strategic Buyer is Rs. 12,100 Crores.

Did you Know

NINL is in Kalinganagar,Odisha

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Aviva India appoints Asit Rath as new CEO and MD

Life insurance company Aviva India has announced the appointment of Asit Rath as chief executive officer (CEO) and managing director (MD).

Rath will take up his role on July 11 and succeed Amit Malik who is leaving the business after 10 years.

Aviva India is a joint venture between Dabur Invest Corp and Aviva International Holdings Limited, a UK-based insurance group.

Did you Know

Aviva plc is a British multinational insurance company-CEO: Amanda Blanc.

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Gujarat on top of list of states in startup ranking for third time in a row

Gujarat and Karnataka have been dubbed as the ‘best performers’ in Category A, while Meghalaya was nominated as the ‘best performer’ in Category B in the States’ Startup Ranking 2021.

The report scores a state on a scale of 100 with 26 action points such as funding, mentorship and institutional support, among others.

Did you Know

Rankings were given by Dept for Promotion of Industry and Internal Trade.

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India, Armenia sign MoU on High Impact Community Development Projects in Armenia

India and Armenia signed a Memorandum of Understanding on High Impact Community Development Projects in Armenia with financial and technical assistance from India.

The MoU was signed at the 8th India-Armenia Intergovernmental Commission on Trade, Economic, Scientific and Technological, Cultural and Educational Cooperation (IGC) held in Yerevan.

Did you Know

Armenia:
Capital: Yerevan;
Currency: Dram

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RBI imposes monetary penalty on IndusInd Bank, Kotak Mahindra Bank

RBI has imposed a monetary penalty of ₹1 crore on IndusInd Bank for non-compliance with certain directions issued by RBI on ‘RBI (KYC) Directions, 2016' & ₹1.05 crore on Kotak Mahindra Bank for contravention of the provisions of sub-section (2) of Section 26A of the Banking Regulation Act, 1949 (the Act)read with para 3 of Depositor Education & Awareness Fund Scheme,2014.

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RBI launches next round of survey of manufacturing companies

RBI said it has launched the next round of its order books, inventories and capacity utilisation survey (OBICUS) of manufacturing companies, results of which provide valuable inputs for monetary policy formulation.

The 58th round of the OBICUS is for April - June 2022 period.

RBI has also launched the 2021-22 round of its Survey on International Trade in Banking Services.

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PM Modi Greets President Biden On US' 246th Independence Day

Prime Minister Narendra Modi conveyed his greetings to US President Joe Biden and the people of America on the occasion of their country's 246th Independence Day.

The US' Independence Day commemorates the Declaration of Independence, which was ratified by the Second Continental Congress on July 4, 1776, establishing the United States of America.

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PM Modi unveils 30-ft statue of freedom fighter Alluri Sitarama Raju in Andhra Pradesh

Prime Minister Narendra Modi unveiled a 30-feet bronze statue of Alluri Sitarama Raju at Bhimavaram in Andhra Pradesh’s East Godavari district on the 125th birth anniversary of the freedom fighter.

Believed to have been born in present-day Andhra Pradesh in 1897 or 1898, Alluri Sitarama Raju is known for leading guerrilla resistance against the British in the region.

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At 1st Maritime Security Group meet, NSA chief Doval stresses on coordination among stakeholders

National Security Advisor (NSA) Ajit Doval inaugurated the first meeting of the Multi-Agency Maritime Security Group (MAMSG), chaired by Vice Admiral (retd) G. Ashok Kumar , India’s first National Maritime Security Coordinator (NMSC).

The meeting was held eight months after the central government approved the post of NMSC.

Did you Know

Meeting was held in New Delhi.

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Indian Navy commissions the first ALH Squadron INAS 324 in Visakhapatnam

The unit at INS Dega, Vizag is the first Naval Squadron on the Eastern Seaboard operating the indigenously built and designed Advanced Light Helicopter (ALH) MK III (MR) helicopters. INAS 324 squadron has been named ‘Kestrels’, after a bird species that has good sensory capabilities, symbolising the role envisaged of the aircraft and the air squadron.

Did you Know

Previously, ALH MK3 was commissioned at Gujarat 's 835 squadron & Chennai's 840 squadron.

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Indian Bank signs MoU with Government of Haryana

Public sector Indian Bank has inked a pact with the Government of Haryana towards distribution of mobile phones to consumers through e-unified payment interface system.

Bank would provide e-upi coupons to beneficiaries.

The coupons can be redeemed without any credit or debit card allowing the customers to avail a mobile phone from a designated vendor.

Did you Know

Mobile distribution melas would be organised by the bank in Haryana

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Tarun Majumdar, veteran Bengali filmmaker, passes away at 91

Veteran filmmaker Tarun Majumdar passed away in Kolkata.

Notable among his works are 'Kancher Swarga' (1962), 'Palatak' (1963), 'Kuheli' (1971), Shriman Prithviraj (1972), 'Balika Badhu' (1976), 'Thagini' (1974), 'Ganadevata' (1978), Dadar Kirti (1980), 'Bhalobasa Bhalobasa' (1986).

Majumdar, who received Padma Shri in 1990, has five Filmfare awards to his credit.

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Banking frauds of over ₹100 crore see significant decline in FY'22

Frauds in banking sector involving sums of over ₹100 crore have declined significantly, with banks reporting cases worth ₹41,000 crore in 2021-22 compared to ₹1.05 lakh crore in the previous year.

According to data by RBI in the case of PSBs, the total number of fraud cases over ₹100 crore dropped from 167 in FY21 to 80 and in case of private banks fell from 98 to 38.

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Trade gap widens to record $25.6 bn; imports surge to $63.58 bn in June

India’s merchandise trade deficit surged to a new high of $25.6 billion in June amid slowing demand for Indian exports and rising imports of gold, coal and crude oil.

Exports grew 16.8 per cent year-on-year to $38 billion in June while imports jumped 51 per cent to $63.6 billion, according to the preliminary data released by the commerce ministry.

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CBSE launches Pariksha Sangam portal

The CBSE Board launched a portal called 'Pariksha Sangam', a one-stop portal for all CBSE board exam activities.

It is another portal where students will be able to check Class 10th and Class 12th board results easily.

Portal has been divided into 3 main sections: Schools (Ganga), Regional offices (Yamuna) & Head office (Saraswati).

Did you Know

Nidhi Chibber- CBSE chief.

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BA.2.75 — new Covid variant detected in India

Scientists across the world have flagged the emergence of a new coronavirus variant in India, the BA.2.75.

BA.2.75 is a sub-lineage of the Omicron variant. Sub-lineages of Omicron have become the dominant variants circulating across the globe, with new mutations continuously evolving.

There has been no official communication about the variant.

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Elorda Cup: Reigning Youth World Boxing champions Alfiya Pathan and Gitika clinch Gold medals

Reigning Youth World Boxing champions Alfiya Pathan and Gitika have won gold medals at the Elorda Cup in Nur-Sultan, Kazakhstan.

Two other Indian female boxers Kalaivani Srinivasan and Jamuna Boro signed off with silver medals.

In the women's 81 kg final, Alfiya defeated Lazzat Kungeibayeva while Gitika won against compatriot Kalaivani in 48 kg final.

Did you Know

33-member Indian contingent concluded its campaign with an overall tally of 14 medals.

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Carlos Sainz Wins First Career F1 Race With British Grand Prix Victory

Ferrari's Carlos Sainz sealed the first Formula One victory of his career in a thrilling British Grand Prix at Silverstone, on his 150th race start.

The 27-year-old took the chequered flag in his 150th F1 start, becoming the first Spanish driver to stand on the top step of the podium since Fernando Alonso’s last win in 2013.

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India-EU to hold next round of FTA talks at Brussels in September

The Commerce Ministry said that India and European Union (EU) next round of FTA talks is scheduled at Brussels in September.

India and the 27-nation bloc resumed negotiations on June 17, after a gap of over eight years, on the proposed agreements on trade, investments and Geographical Indications (GI). The first round of talks, which began on June 27, ended July 1.

Did you Know

EU is India’s 2nd largest trading partner after the US and 2nd largest export destination