In recognition of its continued commitment to addressing seafarers' issues, India secured its position as one of the eight governments representing IMO in the Joint Tripartite Working Group. This group is dedicated to identifying and tackling seafarers' issues and the human element in maritime operations.
Other proposed members include the Philippines, Thailand, Liberia, Panama, Greece, the US, and France. The 132nd session of the IMO Council, which commenced on July 8, 2024, will continue until July 12, 2024, addressing various critical issues and proposals for the future of global maritime operations.
Raksha Rajya Mantri Shri Sanjay Seth launched “GRSE Accelerated Innovation Nurturing Scheme (GAINS 2024) of Garden Reach Shipbuilders & Engineers Limited ( GRSE) in Kolkata on July 10, 2024. It is an innovative scheme which seeks solution to the problems related to the shipyards and promotes technology development using the start-ups created and nurtured in the country.
GAINS is a unique national scheme to encourage and enable MSMEs and Start-Ups to develop innovative solutions that GRSE may incorporate for further technological advancement.The aim is to leverage the vast eco-system of MSMEs and Start-Ups to address present and emerging challenges in the ship design and construction industry, while achieving the objectives of Atmanirbhata.
The Hera Panchami ritual, an integral part of the Rath Yatra in Puri, is a captivating tradition where Goddess Laxmi expresses her anger towards Lord Jagannath by damaging his chariot, Nandighosha. Observed on the festival’s fifth day, this ritual is marked by a grand procession.
The Hera Panchami festival, celebrated today, portrays Goddess Laxmi’s anger towards Lord Jagannath for staying away from Srimandir during the Rath Yatra and not taking her along. Reflecting Odia cultural norms, where wives get upset if their husbands come home late, Goddess Laxmi is displeased with Lord Jagannath’s extended absence from Shee Mandir.
Providing impetus to Aatmanirbharta, Defence Research & Development Organisation (DRDO) has awarded seven new projects to industries under the Technology Development Fund scheme for various requirements of the Armed Forces and aerospace & defence sectors. These project sanctions are a testimony to the continuing endeavour of DRDO in nurturing Industries.
The details of the sanctioned projects are given below:
Indigenous Scenario and Sensor Simulation Toolkit: - The project involves development of an indigenous toolkit for simulator training of pilots in realistic scenarios. This will help in full mission planning and large force engagement. The project has been awarded to start-up, Oxygen 2 Innovation Pvt Ltd, Noida.
Underwater Launched Unmanned Aerial Vehicle: - The project relates to a versatile marine battlefield accessories which can be deployed in multiple combat roles. The objective is Intelligence, Surveillance and Reconnaissance (ISR) and Maritime Domain Awareness (MDA). The project has been awarded to Sagar Defence Engineering Pvt Ltd Pune.
Long-range Remotely Operated Vehicles for Detection & Neutralisation: - The vehicles are dual-use systems that will enable detection, classification, localisation & neutralisation of underwater objects while keeping the key assets away from the suspected operational area. The project has been awarded to a start-up, IROV Technologies Pvt Limited, Kochi.
Development of Ice Detection Sensor for Aircraft The project aims to develop detecting icing condition inflight, caused by super cooled water droplets that freezes after their impact against the aircraft external surfaces and is utilised by the aircraft for turning on the aircraft Anti-icing mechanism. It has been awarded to Craftlogic Labs Pvt Ltd, Bengaluru.
Development of Radar Signal Processor with Active Antenna Array Simulator: - The project will enable deployment of multiple target system for test and evaluation of multiple short range aerial weapon system. It serves as the basic building block for larger radar systems. The project has been sanctioned to Data Pattern (India) Limited, Chennai.
Development of Indian Regional Navigation Satellite System-based Timing Acquisition & Dissemination System: The project has been sanctioned to Accord Software & Systems Pvt Ltd, Bengaluru. It aims to enable indigenisation of timing acquisition and dissemination system, use of Indian Constellation for acquiring time & development of customised and flexible timing system.
Development of Graphene Based Smart & E-textiles for Multifunctional Wearable Applications: The start-up, Alohatech Private Limited, Coimbatore has been sanctioned the project. It will develop a conductive yarn and fabric-making processes using graphene nanomaterials and conductive inks.
Nagaland has been adjudged as the best state in Horticulture in the prestigious Agriculture Leadership Awards 2024. The award was given to the state for its outstanding work in introducing innovative programmes and policies for horticulture development, which has positively touched the lives of large number of farmers and the rural people in the State.
The annual awards were instituted in 2008 for recognizing excellence and leadership roles played by individuals and organizations towards the development of Indian agriculture and bringing about rural prosperity. Nagaland has achieved G.I registration of three horticultural crops viz., Naga Mircha, Naga Tree Tomato and Naga Sweet Cucumber.
In J&K, the administration has established a seven-member panel to identify foreign nationals who have been illegally overstaying in J&K for the past 13 years. This initiative aims to facilitate the deportation of these individuals and address the issue of illegal immigration. The committee has to identify foreign nationals illegally overstaying in the UT since 2011.
The committee’s primary responsibilities include gathering biographic and biometric details of illegal migrants and maintaining an updated digital record. They are required to prepare a monthly report and submit it to the Union Home Ministry by the fifth day of each month.
The day is observed on the 11th of July every year to focus on the challenges and opportunities caused by the rising population. The importance of population issues, was established by the then-Governing Council of the United Nations Development Programme in 1989.
By a resolution in December 1990, the United Nations General Assembly decided to continue observing World Population Day to enhance awareness of population issues, including their relations to the environment and development. The Day was first marked on 11th July 1990 in more than 90 countries. This year the theme is- Leave no one behind, count everyone.
Mauritius, once among the leading destinations for foreign portfolio investors routing funds into India, has now slipped to the fifth position, behind Ireland, in terms of assets under custody as of June 30. At the 4th position, Ireland boasted an AUC of Rs 4.41 trillion, slightly more than Mauritius, which recorded an AUC of Rs 4.39 trillion by the end of June 2024, NSDL.
Legal experts and custodians said that though Mauritius has been preferred by FPIs for routing funds to India, time taken for approval for new funds has risen significantly of late, leading to delays in fund registrations. Overall, more than 780 FPIs are registered in Ireland compared to 595 in Mauritius, revealed NSDL data.
Global IT consulting and services major Accenture announced the acquisition of Cientra, a silicon design and engineering services company offering custom silicon solutions for global clients. Founded in 2015, Cientra is headquartered in New Jersey, US, and has offices in Frankfurt, Germany, as well as in Bangalore, Hyderabad, and New Delhi, India.
This is the third acquisition by the firm in the design engineering and silicon design space. This acquisition follows the addition of Excelmax Technologies, a Bangalore, India-based semiconductor design services provider, earlier this week, and XtremeEDA, an Ottawa, Canada-based silicon design services company, in 2022.
Global rating agency Moody's has revised its outlook on Indian private sector lender Yes Bank from "stable" to "positive" on the expectation of a gradual improvement in its depositor base and lending franchise. This will help improve its core profitability over the next 12-18 months.
The positive outlook takes into account the improvement in the bank's asset quality and capitalisation over the past 2-3 years. The rating agency also affirmed Yes Bank's "Ba3" long-term (LT) foreign currency (FC) and local currency (LC) bank deposit ratings.
Kotak Mahindra AMC on 11th July launched the BSE PSU Index Fund, a passive equity scheme that will replicate the BSE PSU Index. The index currently comprises 56 public sector undertaking (PSU) stocks across sectors. The BSE PSU Index has doubled in the last one year, owing to strong momentum in PSU stocks.
The Canadian fund Brookfield has made an equity investment in Leap Green Energy, a renewables platform based in Tamil Nadu, focused on providing clean energy solutions to commercial and industrial customers, stated a press release. Brookfield and Leap Green recently entered into definitive strategic investment agreements pursuant to which Brookfield has acquired a stake.
Bengaluru-based electric mobility startup Vidyut announced the launch of its offline pre-owned EV sales and financing platform. The latest offline services have been made available in Delhi-NCR, Hyderabad and Bengaluru to begin with, while the plans are to expand them into six more markets including Mumbai, Chennai, Pune, Lucknow, Agra and Kanpur by the end of this fiscal.
Under the new offering, the company will manage the end-to-end process from vehicle inspection and valuation to sale and RTO documentation for the owners, the Bengaluru-headquartered firm said. Currently, the platform offers resale of electric commercial three-wheelers from brands such as Mahindra, Piaggio, Euler Motors, Greaves and Altigreen, among others.
The Reserve Bank of India (RBI) has lifted restrictions on banks using ratings from Brickwork Ratings India Private Limited, two years after forbidding fresh ratings due to regulatory concerns. Banks can now utilize Brickwork Ratings' assessments for calculating risk weights for capital adequacy purposes, subject to certain conditions.
For existing ratings assigned to working capital facilities exceeding Rs 250 crore, Brickwork shall undertake rating surveillance only till the next renewal of such facility by banks, the RBI said. In respect of existing ratings, Brickwork may undertake rating surveillance irrespective of the rated amount for the residual tenure of such loans, the RBI said.
PUMA India has announced its partnership with the Indian Olympic Association (IOA) as the official footwear partner for the Indian contingent heading to the Paris Olympics 2024. PUMA has launched a grand outdoor campaign titled "See the Game Like We Do" to honor and celebrate the achievements of Indian athletes.
As part of this collaboration, over 100 Indian athletes will receive an array of products designed to enhance their training and comfort. These include podium and travel footwear, trolleys, backpacks, sippers, yoga mats, headbands, wristbands, socks, and towels. Notably, 45 of these athletes are part of the PUMA contingent.
State Bank of India has introduced an online loan facility against mutual fund (MF) units through its internet banking (INB) and YONO App. The bank, in a statement, said this digital offering enables customers to avail loans from the comfort of their homes, offering a 100 per cent paperless and digital process that is available 24x7.
The new loan facility is available for MF scheme of all the asset management companies (AMCs) registered with CAMS. Previously, the loan against MF facility was limited to loans against SBI Mutual Fund schemes only and was available only through branches requiring physical visits by customers.
Mirae Asset Financial Services (India) has launched personal loans ranging from ₹75,000 to ₹5 lakhs for salaried employees with a monthly income of over ₹25,000 across select cities. The non-banking finance company, which is a subsidiary of Mirae Asset Group, in a statement, said a borrower can complete the entire loan process in 10 minutes via its website and mobile app.
Personal loan interest rates start at 14 per cent per annum and have tenures ranging from 6 to 48 months,” it added. The NBFC said eligible borrowers must have a minimum credit score of 700 and at least 12 months of work experience. Initially, available in select locations across the country, the product is open to individuals aged 22 to 55.
The World Health Organization (WHO) has introduced an online platform called MeDevIS (Medical Devices Information System), the first global open access clearinghouse for information on medical devices.
MeDevIS offers detailed information on 2,301 types of medical devices, supporting a range of health issues and simplifying device selection and procurement processes.
The platform references international naming systems EMDN and GMDN, facilitating global regulatory approval and improving device tracking and pricing. It is designed to support governments, regulators and users in their decision-making on selection, procurement and use of medical devices for diagnostics, testing and treatment of diseases and health conditions.
Vietnam has done it again: For the fourth year in a row, this Southeast Asian country has been crowned the most affordable destination for immigrants, according to a 2024 study by InterNations. Out of 53 destinations, Vietnam clinched the top spot, shining in areas such as quality of life, digital connectivity, housing, language, career prospects, salary, and job security.
Vietnam, Colombia, Indonesia, Panama
, Philippines, India, Mexico, Thailand, Brazil, and China are the top ten countries. Canada took the last position at 53, The next worst was Finland at 52 and Singapore made it to the bottom at 48 and 75 percent of the expats surveyed rated the cost of living negatively.
State-owned Punjab National Bank (PNB) introduced a new security feature 'Safety Ring' within its internet banking system and mobile banking system in response to the increasing number of cyber frauds.
This mechanism provides an additional safety layer to minimise potential losses in case of unauthorised access by fraudsters, PNB said in a statement.
Safety Ring is an optional feature that allows customers to set a daily transaction limit with respect to term deposits (TDs) on online closure or availing overdraft facility on TDs up to the set limit amount, it said.
In Badminton, Indian shuttlers bagged the men’s and women’s singles titles at the Saint-Denis Reunion Open 2024, in Saint-Denis, the capital of the French overseas département of Réunion in the Western Indian Ocean. In Men’s singles, India’s Tharun Mannepalli defeated Yudai Okimoto of Japan to win his second title of the year.
Earlier, he won the Kazakhstan International Challenge. While in women’s singles, World No. 75, India’s Tasnim Mir clinched the title, defeating compatriot Rakshitha Sree, in the final. However, in the men’s doubles final, the Indian duo of Prakash Raj and Gouse Shaik lost to Julien Maio and William Villeger of France, to settle for a runner-up finish.
