A dejected Vinesh Phogat announced her retirement from wrestling, a day after being disqualified from the Paris Olympics 2024. Vinesh was disqualified from the Paris Olympics and stripped of her medal hours before her historic gold medal bout after failing to meet the weight. The Indian wrestler was 100gm overweight.
The 29-year-old had become the first Indian female wrestler to advance to the finals of the Olympic Games and assure herself at least a silver medal in women's 50kg. Cuban wrestler Yusneylis Guzman Lopez, who lost to Vinesh in the semifinals, replaced her in the final against American Sarah Ann Hildebrandt.
Union Minister for Environment, Forest, and Climate Change, Mr. Bhupender Yadav, announced the creation of two new Peacock Sanctuaries in India: Adichunchanagiri in Karnataka and Choolannuar in Kerala. This decision shows the government’s ongoing effort to protect wildlife and the national bird, the peacock.
The National Commission for Women has inaugurated the Digital Shakti Center to combat cyber crimes against women in New Delhi. The centre is a dedicated facility that aims at raising awareness about cyber crimes. It will provide essential technical support for registering and addressing complaints.
The commission emphasised that with the alarming rise in cyber crimes such as identity theft, cyberstalking, and sexual exploitation, this initiative is crucial in empowering women to navigate and protect themselves in the digital world. It said that building on the success of its Digital Shakti campaign, which was launched in 2018,
The center will offer expert guidance to ensure timely and effective resolution of cybercrime complaints. The NCW added that the Digital Shakti campaign has reached millions of women, equipping them with the knowledge and tools to safeguard their digital spaces.
The Digital Shakti Center was inaugurated by the National Commission for Women (NCW) Chairperson Ms. Rekha Sharma in collaboration with the Cyber Peace Foundation. Addressing the gathering Ms Sharma noted that there has been a surge in cyber crime cases in India, rising from 52,974 in 2021 to 65,893 in 2022.
The Indian Army has conducted a strategic military exercise, 'Parvat Prahaar', in Ladakh, focusing on high-altitude warfare and operations. The 'Parvat Prahaar' (Mountain Strike) exercise emphasises mountainous and rugged terrains, such as those found in regions like Eastern Ladakh. It is crucial for maintaining the readiness and effectiveness of the Army in the region.
which is close to the India-China border. The exercise, which continues for over a fortnight, involves simulating real-world combat scenarios to train soldiers in the unique challenges posed by such terrains. Various arms of the Army, including infantry, armored, artillery, and support units, are participating in this drill.
Different kinds of tanks, artillery guns including K-9 Vajra, air-defense systems, UAVs, and other aviation assets of the Army are showcasing their operability and war preparedness. The Mountain Strike Corps of the Northern Command, which is responsible for operations in this sensitive region along the Line of Actual Control (LAC), is involved in the exercise.
Former chief minister of West Bengal and veteran CPIM leader Buddhadeb Bhattacharjee passed away at his residence in Kolkata’s Palm Avenue. Buddhadeb, who had been suffering from chronic obstructive pulmonary disease for some years, was 80.It was in 2000 that he was made the chief minister when Jyoti Basu- the then longest-serving chief minister in the country stepped down.
As CM, he led the Left Front to consecutive victories in the assembly polls in 2001 and 2006. He was known as a reformist among the Left, especially for trying to bring industrialisation to the state. He was behind the setting up of a Tata Nano plant in Singur and planning a special economic zone in Nandigram.
The Indian Economic Trade Organization in association with the India Africa Trade Council (IETC) organized the India Mauritius Trade Conference 2024 in Port Louis which was attended by the Business community in Mauritius. The motto of the India-Mauritius Conference was Promoting Investment and Growth in collaboration with the Mauritius business houses.
The event was attended by around 70 participants representing public, business, educational, and healthcare sectors in Mauritius. A Memorandum of Understanding for Education collaboration was signed between the Global Education Outreach Mauritius represented by Mr. Jayasankar the founder and Dr. P. Krishnakumar, CEO & Secretary of Nehru Group of Institutions in Coimbatore.
This MOU solidifies a commitment of the Nehru group to the exchange of Technology in Education concerning Education 4.0. The Chairman of the Nehru Group and the Honorary Trade Commissioner also initiated plans to establish the education institutes in Mauritius, especially in Dairy farming and Food processing.
Nobel Laureate Muhammad Yunus was sworn in as the chief adviser of Bangladesh's interim government. Yunus promised to deliver a government that assures safety to its citizens, as he returned to the protest-torn Bangladesh from Paris to take oath following the ouster of Prime Minister Sheikh Hasina.
Yunus, 84, who won the Nobel Peace Prize in 2006 for his pioneering work on microlending, was designated head of the interim government after President Mohammed Shahabuddin dissolved parliament on Tuesday after Hasina resigned as Prime Minister and fled the country following widespread protests against her regime.
August 7 is celebrated as National Javelin Day in India.The Athletics Federation of India, the governing body for athletics in the country, designated this date to honour Neeraj Chopra's historic gold medal win in the javelin throw at 87.58 meters in the Tokyo Olympics. This celebration recognises his achievement and promotes the sport of javelin throwing across the nation.
On August 7, 2021, Neeraj Chopra made history by throwing the javelin 87.58 meters in the men's Javelin Throw final at the Tokyo Olympics, securing the gold medal. This victory marked India's first-ever gold medal in track and field events at the Olympics. With this achievement, Chopra also became the second individual gold medallist from India, following Abhinav Bindra's.
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) kept the repo rate unchanged at 6.5 percent for the ninth straight meeting, with a majority of 4-2. The MPC decided to keep its stance of "withdrawal of accommodation" unchanged. Four out of six MPC members voted in favour of the rate decision.
Keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.50 percent. Consequently, the standing deposit facility (SDF) rate remains unchanged at 6.25 percent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 percent.
The MPC also decided to remain focused on the withdrawal of accommodation to ensure that inflation progressively aligns to the target, while supporting growth. These decisions align to achieve the medium-term target for consumer price index (CPI) inflation of 4 percent within a band of +/- 2 percent while supporting growth.
The MPC last changed rates in February 2023, when the policy rate was raised to 6.50 percent. The annual retail inflation rate rose for the first time in five months in June, climbing above 5 percent on the back of a jump in food prices.
Amid significant growth in digital payments across the country, the Reserve Bank of India (RBI) has proposed raising the upper limit for tax payments through the Unified Payments Interface (UPI) from Rs 1 lakh to Rs 5 lakh per transaction. Currently, the transaction limit for UPI is Rs 1 lakh except for certain categories of payments which have higher transaction limits.
It has now been decided to enhance the limit for tax payments through UPI from Rs 1 lakh to Rs 5 lakh per transaction. This will further ease tax payments by consumers through UPI, according to a statement from RBI governor Shaktikanta Das. The decision was made during the 50th meeting of the Monetary Policy Committee (MPC).
In addition to this, the RBI has proposed a ‘delegated payments’ feature for UPI, allowing a primary user to permit another individual to make UPI transactions up to a specified limit from the primary user’s bank account.The central bank has also suggested implementing continuous cheque clearing with 'on-realisation-settlement' in the Cheque Truncation System (CTS) as well.
Muthoot Capital Services (MCSL) announced its partnership with UK based Development Financial Institution for raising long-term debt funds to promote its electric vehicle portfolio. Facilitated by Axis Bank, the collaboration entails a deal size of Rs 100 crore, highlighting the significance and commitment of Muthoot Capital in providing sustainable mobility solutions,
Its efforts in driving the widespread adoption of electric vehicles in India, especially among the lower middle-income segment. This is one of the largest partnership deals bagged by Muthoot Capital for its sustainability and environmental-led initiatives. the company is currently involved in electric vehicles through lending route,It plan to grow its EV book by 200 cr 2025
Goods and services tax (GST) authorities have issued notices to more than 20 general insurance companies, demanding approximately Rs 2,000 crore in unpaid tax, according to a report by Moneycontrol. This action targets services provided to employees and their families working in industrial units within Special Economic Zones (SEZs).
Under Section 16 of the Integrated GST (IGST) Act, no tax is levied on exports and supplies to SEZs. However, the recent investigation by the Directorate of GST Intelligence (DGGI) found that the insurers extended these tax exemptions to group medical insurance cover for employees of SEZ units and their families, which is considered a misuse of the provision.
Group health insurance services were not included as authorised operations by insurers’ SEZ units. DGGI probe revealed the following:
Insurance services billed to SEZ units also extended to employees and their families
IGST was not paid on these services, leading to the issuance of SCNs
Services provided by the insurers are subject to IGST at an 18 percent rate.
Companies under DGGI radar,
Among the companies receiving show-cause notices (SCNs) are:
HDFC Ergo General Insurance Co
Star Health & Allied Insurance
Cholamandalam MS General Insurance Co
New India Assurance Co
United India Insurance Co
Companies receiving the SCNs can contest them before the appellate authority, the high court, and ultimately the Supreme Court.
Tata Power and Bhutan-based Druk Green Power Corporation Ltd (DGPC) have partnered to develop a hydropower project at an estimated cost of Rs 6,900 crore. The 600 megawatt (MW) Khorlochhu Hydropower Project will be built on the Kholongchhu river in eastern Bhutan. The project will help meet Bhutan's increasing electricity requirements and,
Complement and contribute to India's energy transition to renewables. The partnership involves a 40 percent equity investment by Tata Power in Khorlochhu Hydro Power Ltd, a Public Private Partnership company. The estimated project cost, including financing charges, is around Rs 6,900 crore with a construction timeline of 5 years.
