The World Bank in its India Development Update has upgraded the forecast for the Indian economy to 6.9% from 6.5% earlier in the current fiscal year.
The report sees average retail inflation at 7.1% this year. World Bank's India Development Update said India is affected by spillovers from the US, Euro area, and China.
Billionaires Gautam Adani, HCL Technologies' Shiv Nadar, and Happiest Minds Technologies' Ashok Soota are the three Indians who have been named in the 16th edition of Forbes Asia’s Heroes of Philanthropy list.
Gautam Adani was listed for having pledged ₹60,000 crores ($7.7 billion).
Shiv Nadar donated ₹11,600 cr. ($142 million).
Ashok Soota has pledged ₹600 cr. ($75 mn.)
For the 1st time, India hosted conclave of top security officials of Kazakhstan, Kyrgyzstan, Tajikistan & Uzbekistan with a focus on the evolving security situation in Afghanistan and ways to deal with threat of terrorism emanating from that country.
The meeting coincides with the 30th anniversary of the establishment of diplomatic ties between India & the Central Asia.
‣National Security Adviser Ajit Doval chaired this conclave.
Deepika Padukone will be the first global actor to unveil the FIFA World Cup trophy during the finals, possibly the first in FIFA history. The FIFA World Cup final will be held on December 18 at the Lusail Iconic Stadium in Qatar.
Nora Fatehi, an actor and dancer, performed at the Fifa World Cup 2022 Fan Festival at Al Bidda Park in Doha.
Nora Fatehi performed on the World Cup anthem "Light the Sky."
The Unified Payments Interface (UPI) saw a whopping rise of 650 percent in value at the semi-urban and rural stores in India, according to a report by fintech company PayNearby.
So far in 2022, Assisted financial transactions across semi-urban and rural retail counters in India grew 25 percent and 14 percent in value terms and volumes, respectively.
Razorpay, India’s full-stack payments and banking platform for businesses announced the platform’s readiness to support credit card transactions on Unified Payments Interface (UPI). With this launch, Razorpay becomes India’s first PG to support credit cards on UPI.
Customers of HDFC Bank, Punjab National Bank, Union Bank & Indian Bank will be the 1st to enjoy the benefits.
The National Company Law Tribunal (NCLT) dismissed the Jalan-Kalrock consortium (JKC) appeal regarding PF and Gratuity payments to Jet Airways workers and employees.
The JKC's plea to limit its payment liability under the resolution plan to Rs. 475 billion was rejected by the judicial body.
December 7 is marked as the Armed Forces Flag Day or the Flag Day in India every year. The day is commemorated in order to honour the soldiers serving in India’s armed forces as well as the veterans. This year, Prime Minister Narendra Modi unveiled the new naval ensign that eschews the Union Jack and other colonial heritage of the past.
The day has been observed annually since December 7, 1949.
International Civil Aviation Day is observed on December 7 every year. The day was established by the United Nations in order to promote the importance of international civil aviation.
The ICAO Council establishes the theme for International Civil Aviation Day every four years. The theme till 2023 is "Advancing Innovation for Global Aviation Development".
International Civil Aviation Organization (ICAO), Headquarters: Montreal, Canada.
The BBC has published the list of 100 most influential women in the world and has included women from several areas such as politics, science, sports, entertainment, & literature.
The BBC's 100 most influential women's list also includes four Indians - Actress Priyanka Chopra Jonas, author Geetanjali Shree, engineer & astronaut Sirisha Bandla, & social worker Sneha Jawale.
Increase the policy repo rate under the liquidity adjustment facility (LAF) by 35 basis points to 6.25 per cent with immediate effect.
Consequently, the standing deposit facility (SDF) rate stands adjusted to 6.00 per cent and the marginal standing facility (MSF) rate and the Bank Rate to 6.50 per cent.
CPI inflation moderated to 6.8 per cent (y-o-y) in October 2022.
The next meeting of the MPC is scheduled during February 6-8, 2023.
GMR Airports, a subsidiary of the erstwhile GMR Infra and the National Investment and Infrastructure Fund (NIIF) have announced a financial partnership, under which the NIIF will invest in the equity capital of three airport projects of GMR. This partnership marks NIIF's first investment in an airport asset in India.
Pradeep Panicker, CEO, GMR Hyderabad International Airport Ltd.
The 7th edition of Exercise Sangam, a joint Naval Special Forces exercise between Indian Navy MARCOs and US Navy SEALs commenced in Goa on December 1.
Notably, the 18th edition of the Indo-US joint training exercise “YUDH ABHYAS 22” started in Uttarakhand last month.
The exercise is planned for a duration of three weeks.
Exercise Sangam was first conducted in 1994.
Sri Lanka has sought technical assistance from India's National Dairy Development Board (NDDB) and market leader Amul in order to scale up its dairy production and become self-sufficient, reviving a collaboration that the island attempted but failed to pursue in the late 1990s.
Gujarat Cooperative Milk Marketing Federation (GCMMF), markets milk under the Amul brand.
On the occasion of 164th birth anniversary of legendary Indian scientist Acharya Jagadish Chandra Bose and as part of Azadi Ka Amrit Mahotsava, Vijnana Bharati and Ministry of Culture, Govt. of India organized an “International conference on the contributions of J C Bose: A Satyagrahi Scientist”, at Inter-University Accelerator Centre, New Delhi.
Bose Institute was set up in 1917 by Sir Jagadish Chandra (JC) Bose.
In a development that might help India achieve its climate change-related goal of generating 500 Gw (gigawatt) of renewable energy by 2030, researchers at the Indian Institute of Technology Madras (IIT Madras) have invented an ‘Ocean Wave Energy Converter’ that can generate electricity from sea waves. Researchers expect to commercialise the innovation by 2024.
Sixteen-year-old Aditya Mittal has become India's 77th chess Grandmaster.
The Mumbai player, who had secured three GM norms, crossed 2,500 ELO points mark during the sixth round of the ongoing Ellobregat Open tournament in Spain.
To become a GM, a player has to secure three GM norms and cross the live rating of 2,500 ELO points.
A Greenhouse-in-a-Box sustainable solution for small farmers devised by Telangana startup Kheyti has won the 1 million pounds Earthshot Prize, founded by Britain's Prince William and dubbed the Eco Oscars'. Kheyti, one of the five winners at a gala green carpet awards ceremony in Boston, won the prize in the Protect and Restore Nature category from hundreds.