Daily News

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India’s Chandrayaan-3 successfully lands on the Moon

Indian Space Research Organisation (ISRO) has successfully landed its Chandrayaan-3 Lander Module on the surface of the Moon.

ISRO's Chandrayaan-3 mission successfully completed its month-long journey from Earth to the Moon, making a soft landing on the lunar south pole.This is the same region where its predecessor, Chandrayaan-1, discovered the presence of water molecules.

Did you Know

Pragyan (rover) has a mission life of 1 lunar day, approximately equal to 14 Earth days.

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26th National Conference on e-Governance to begin in Indore

The 26th National Conference on e-Governance is being organized in Indore from August 24 to deliberate on providing better facilities to the citizens.

The two-day conference is being organized by the Department of Administrative Reforms and Public Grievances and Ministry of Electronics and Information Technology in collaboration with the Government of Madhya Pradesh.

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The conference will brainstorm on the theme 'Developed India: Empowering Citizens'.

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Credit card spends may be brought under LRS after May 2024

Spending of Indians via credit cards abroad will likely be brought under the Liberalised Remittance Scheme (LRS) in FY25.

In June, the Centre changed its Budget 2023-34 decision to bring such credit card spending outside India under LRS, thereby exempting such spending from the levy of Tax Collected at Source (TCS) for now.

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Mastercard signs up as ICC sponsor for 2023 World Cup

Digital payments company Mastercard has signed up as one of the International Cricket Council’s (ICC) top-tier sponsors for the 2023 World Cup in India, which will be held between October 5 and November 19.

With this, Mastercard joins ICC’s other global partners MRF Tyres, Booking.com, Aramco and Emirates.

Did you Know

ICC is the global governing body for cricket headquartered in Dubai, United Arab Emirates

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BRICS Bank signs $173 mn loan agreement for Lesotho water project

The New Development Bank (NDB), which was established by the BRICS bloc, and the Trans-Caledon Tunnel Authority (TCTA) have inked a loan agreement for the implementation of phase II of the Lesotho Highlands Water Project (LHWP).

The NDB will provide a project loan of 3.2 billion South African Rand ($173 million) to TCTA under the sovereign guarantee of South Africa.

Did you Know

Lesotho-->

Capital: Maseru

Currency: Lesotho Loti

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First time in 4 years, MFIs overtake banks in microlending with 40 pc share

As of March 2023, after a gap of four years, standalone MFIs overtook banks in microlending in 2022-23 with a 40 percent share of loans in the country, up from 35 percent in the last year.

Banks controlled 34 percent of the industry's Assets Under Management (AUM) in FY23 down from 40 percent in FY20 and FY22. Their share had peaked at 44 percent in FY21.

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India' GDP growth likely at 8.5% in first quarter: ICRA

ICRA Ratings in its report highlights that India's economic growth will accelerate to 8.5% in Q1 FY24, driven by a recovery in the services sector. Its estimate is higher than the Reserve Bank of India's (RBI's) forecast of 8.1%,

Continued catch-up in service demand, improved investment activity, and government capital expenditure will drive the growth.

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UNDP partners govt to fast-track sustainable development in northeast

The Ministry of Development of North-eastern Region (MDoNER) and the United Nations Development Programme (UNDP) joined hands to enhance and expedite sustainable development goals (SDGs) in the northeastern states.

Under this strategic collaboration, UNDP will provide crucial technical support to MDoNER in several key areas, including fast-tracking progress on the SDGs.

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India Aims for 65% Renewable Energy Share by 2030, Exceeding Previous Targets

The Union Power Minister announced ambitious plans to significantly increase the country’s reliance on renewable energy sources. India is poised to achieve a remarkable 65% share of renewable energy in its energy mix by the year 2030.

Back in 2015, the country had set a target of reaching 40% renewable energy penetration by 2030.

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BHEL manufactures first set of indigenous SCR Catalysts to limit NOx emission

State-owned engineering firm Bharat Heavy Electricals Limited (BHEL) has successfully manufactured the first set of indigenous selective catalyst reactors (SCR) Catalysts for limiting NOx emissions from thermal power plants.

The first set of indigenously manufactured SCR catalysts for the 5x800 MW Yadadri Thermal Power Station in Telangana.

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BankSathi emerges as India’s third-largest credit card issuer, reinforces commitment to financial innovation

BankSathi, a fintech startup, has become the third-largest credit card issuer in India with 3.6 lakh Annual Recurring Revenue. The company has issued 3 lakh credit cards as of June 2023, a fourfold increase from the previous fiscal year.

The credit card industry in India is expected to grow at a 25% compound annual growth rate and reach 20 crore credit cards by 2026.

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Amul ranked world’s strongest dairy brand, second strongest food brand in the world

Amul has been ranked as the world’s strongest dairy brand by the Brand Finance Food and Drink Report 2023. The report evaluates and ranks the strongest and most valuable food, dairy, and non-alcoholic beverage brands.

The report was conducted by UK-based Brand Finance, the world’s leading brand valuation consultancy.

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FIDE World Cup 2023: Magnus Carlsen wins maiden World Cup, Praggnanandhaa finishes as runner-up

Norwegian Grand Master Magnus Carlsen became the new world chess champion after defeating India's 18-year-old Rameshbabu Praggnanandhaa in FIDE World Cup Chess Championship 2023 final at Baku.

Carlsen beat the Indian grand master 1.5-0.5 in the tie-break after the classical games ended in a stalemate.

The five-time world champion clinched his first world cup title.

Did you Know

Magnus Carlsen won prize money of $110,000.