Reaffirming the Government of India’s unwavering commitment to the responsible development, deployment, and adoption of artificial intelligence, the Ministry of Electronics and Information Technology is organizing the ‘Global IndiaAI Summit’ on July 3rd and 4th, 2024, in New Delhi.
Key Pillars of the IndiaAI Mission: -
IndiaAI Compute Capacity: Establishing a scalable AI computing ecosystem with over 10,000 GPUs through public-private partnerships.
IndiaAI Innovation Centre
IndiaAI Datasets Platform
IndiaAI Application Development Initiative
IndiaAI FutureSkills
IndiaAI Startup Financing
Safe & Trusted AI
The 3 New Criminal Laws – Bharatiya Nyaya Sanhita, 2023, Bharatiya Nagarik Suraksha Sanhita, 2023 and Bharatiya Sakshya Adhiniyam, 2023, come into force on 7 July. As the new Criminal Laws laid emphasis on technology in investigation, trial and court proceedings, National Crime Records Bureau (NCRB) has made 23 functional modifications in the existing CCTNS application.
Bangladesh Navy signed a contract for ‘Made in India’ 800 tons Ocean Going Tug with India’s Garden Reach Shipbuilding and Engineers on 30th June. This is the second contract this month for the GRSE that recently inked a $16.6 million (Rs 132 crore approx) deal with the Bangladesh Inland Waterways Transport Authority (BIWTA), to build a dredger.
The WB has approved a second round of 1.5 billion dollars in financing to help India accelerate the development of low-carbon energy.The financing is extended to promote a market for green hydrogen,electrolysers, and increased renewable energy penetration. In June 2023, the WB approved the $1.5 billion for the First Low-Carbon Energy Programmatic DevelopmentPolicyinvestment
The development comes in the backdrop of India’s ambitious National Green Hydrogen Mission and energy transition targets. The Centre has set a target of achieving 500 GW of installed renewable energy capacity by 2030 and reaching net zero by 2070.
India’s core sector grew by 6.3 per cent in May, this year as compared to the same period last year. According to the data released by the ministry of commerce and industry today, production of Electricity, Coal, Steel, Natural Gas and Refinery Products recorded positive growth in May 2024.
However the growth of the eight core sectors mildly slowed down on a Month-on-Month basis, as the April this year growth was at 6.7 per cent.In May this year, Coal production increased by 10.2 per cent, Electricity generation increased by 12.8 %, Natural Gas production surges by 7.5 per cent, Petroleum Refinery production exhibited a marginal uptick by 0.5 % over May, 2023.
Former Portuguese Prime Minister Antonio Costa has been chosen as the next President of the European Council, succeeding Charles Michel from Belgium, effective from October 1, 2024.
The President of the European Council is elected by the heads of state or government of the EU member states for a term of 2.5 years, renewable once, making a maximum tenure of five years.
Financial Services Institution Bureau (FSIB) has selected Challa Sreenivasulu Setty as the next chairman of State Bank of India (SBI). Ashwini Tiwari and Vinay Tonse were two other contenders to the post.
Setty will succeed the current chairman, Dinesh Khara, when he turns 63, the upper age limit for the position of SBI Chairman. His term is scheduled to end in August 2024.
Ravi Agrawal (IRS) has been appointed as the new chairman of the Central Board of Direct Taxes (CBDT), the administrative body for the Income Tax Department. He is an Indian Revenue Service (IRS) officer of 1988-batch.
He takes over from Nitin Gupta, a 1986-batch Indian Revenue Service officer, whose extended tenure as the chairman ends on June 30.
Union Minister of Agriculture & Farmers’ Welfare Shivraj Singh Chouhan launched a web portal to automate and speed up the process of settlement of interest subvention claims of banks submitted under the Agriculture Infrastructure Fund (AIF).
He said the newly launched automation of credit claims will ensure timely settlement of claims within a day.
The portal has been developed jointly by the Department of Agriculture and Farmers’ Welfare and NABARD
The Agriculture Infrastructure Fund scheme was launched by PM Modi in 2020, with the objective of development of post-harvest management infrastructure for reducing losses, realisation of better value to farmers, innovation in agriculture and attracting investments.
In a major milestone, India has managed to prepare a comprehensive list of animal species that exist in India. With this, India has become the only country to make a checklist of entire national fauna. The list covers 1,04,561 species.
On the occasion of the 109th Foundation Day of the Zoological Survey of India (ZSI) in Kolkata, Union Environment Minister Bhupender Yadav launched the "Fauna of India Checklist Portal".
In India, National Chartered Accountants Day is marked every July 1st.
It is one of the most important days for the accounting and finance communities across the nation, as it honours the founding of the Institute of Chartered Accountants of India (ICAI) back in 1949.
The Institute of Chartered Accountants of India (ICAI) was established in 1949 through a parliamentary act. Notably, the ICAI holds the honour of being the world’s second-largest professional organisation for chartered accountants, with a strong tradition of service to the Indian economy in the public interest.
Union Bank of India launched “Union Premier” branches for high-value customers in rural and semi-urban (RUSU) markets.
Designed to provide personalized banking services, these branches will offer a wide range of products and services under one roof for high-value customers in RUSU markets.
National Doctor’s Day in India is celebrated annually on July 1st.
This date was chosen by the Government of India to honour the birth and death anniversary of Dr Bidhan Chandra Roy, a renowned physician, freedom fighter, and former Chief Minister of West Bengal.
Centre for Development of Advanced Computing (C-DAC) has partnered with MosChip® Technologies, and Socionext Inc. for the design and development of a High-Performance-Computing (HPC) Processor SoC based on the Arm® architecture and built on TSMC (Taiwan Semiconductor Manufacturing Company Limited) 5nm technology node.
C-DAC, established to develop and deploy the state-of-the-art supercomputing technology in India, is working towards its complete indigenization & in this direction has developed indigenous compute node RUDRA, Trinetra-Interconnect and System Software stack. C-DAC is developing and deploying HPC systems at leading R&D and academic institutions across the country.
National Supercomputing Mission (NSM), funded by Ministry of Electronics and Information Technology (MeitY) and Department of Science and Technology (DST), was launched to make India one of the world leaders in supercomputing and to enhance India's capability in solving grand challenge problems of national and global relevance.
Axis Bank, India’s third-largest private sector bank, and Piramal Capital and Housing Finance Limited, also known as Piramal Finance, a leading Non-Banking Financial Company – Housing Finance Company (NBFC-HFC) and wholly owned subsidiary of Piramal Enterprises Limited (PEL), have announced a strategic partnership in the co-lending business.
Jairam Sridharan, Managing Director, Piramal Capital & Housing Finance Ltd
Through this collaboration, both lenders will offer loans to middle and low-income borrowers, with a concentration on rural and semi-urban areas.
IndiaFirst Life Insurance Company Limited has named Rushabh Gandhi as its new Managing Director (MD) and Chief Executive Officer (CEO) effective 1 July. Gandhi, previously the Deputy CEO, succeeds Vishakha R.M. who superannuated on June 30, 2024, after nine years of service.
SBI General Insurance Company Ltd. has named Shri Naveen Chandra Jha as its new Managing Director and Chief Executive Officer. His parent business, State Bank of India, nominated him for the role. He succeeds Shri Kishore Kumar Poludasu. Shri Naveen Chandra Jha has been with the State Bank of India since 1994, holding numerous critical roles during his tenure.
Truecaller,the world’s leading global communications platform, has partnered with HDFC ERGO, India’s leading general insurance company to launch Fraud Insurance. This initiative aims to provide enhanced protection to consumers against digital communication fraud in India.The Fraud Insurance product will provide coverage up to Rs 10,000 to Android and iOS users across India.
