NATIONAL UPDATES:
1.
German tech firm SAP India launches Global Bharat program: The Global Bharat
program has been launched by the German technology firm SAP India. The
programme has been designed to equip Indian micro, small, and medium
enterprises (MSMEs) with digital technologies in order to make them globally
competitive. SAP India will also provide MSMEs access to their enterprise
resource planning (ERP) software under the Global Bharat program. It will
compliment the Indian government’s vision to empower the MSME sector by
offering them access to global marketplace, digital skilling for the workforce
and transforming business processes.
2.
MSME Ministry launches new portal for registration of MSMEs under the name
Udyam Registration: The
Union Ministry of Micro, Small and Medium Enterprises (MSME) has launched the
new fully online process of Classification and Registration of MSME enterprises
from 1st July, 2020. For this, the Ministry has launched a new portal called
Udyam registration, which will felicitate online, paperless and
self-declaration based registration. No documents or proof are required to be
uploaded for registering an MSME. An enterprise that will be registered using the
new process will be known as Udyam and its Registration Process will be known
as ‘Udyam Registration’.
3.
ISRO’s Mars Orbiter Mission captures image of Mars’ biggest moon ‘Phobos’: The Mars Orbiter
Mission (MOM), also known as Mangalyaan mission, of the ISRO, has captured the
image of the closest and biggest moon of Mars, named Phobos. The image was
taken on July 1, 2020, by the Mars Colour Camera (MCC) onboard MOM, when the
MOM was about 7,200 km from Mars and 4,200 km from Phobos. The Spatial resolution
of the image is 210 m. Phobos is largely believed to be made up of carbonaceous
chondrites. Stickney, the largest crater on Phobos along with the other craters
(Shklovsky, Roche & Grildrig) are also seen in this image.
4.
Centre Extends Tenure of Sukhbir Singh Sandhu as NHAI Chairman: The Appointments
Committee of the Cabinet has approved the extension of the tenure of senior
bureaucrat Sukhbir Singh Sandhu as the Chairman of National Highways Authority
of India (NHAI) for a period of six months, beyond July 21, 2020, up to January
21, 2021. Sandhu, a 1988 batch IAS officer of Uttarakhand cadre, took charge of
the post in October 2019.
5.
DAC approves capital acquisition of various platforms & equipment worth Rs
38,900 crore: Defence
Acquisition Council (DAC) accorded approval for Capital acquisitions of various
platforms and equipment required by the Indian Armed Forces. Proposals for an
approximate cost of 38900 Crore rupees were approved. The equipments are to be
manufactured in India involving Indian Defence Industry with participation of
several MSMEs as prime tier vendors. The Indigenous content in some of these
projects is up to 80 percent of the project cost. The cost of these Design and
Development proposals is in the range of 20400 crore rupees.
6.
AIIMS, IIT-Delhi develop app to provide real-time information on plasma therapy
donors for COVID-19 patients: Resident doctors of AIIMS with the help of
IIT-Delhi students have developed a mobile application to track real-time
Covid-19 patients in the hospital, who can become potential plasma donors 28
days after recovery along with those who have been discharged. The app named
COPAL-19 has details of patients who have already been discharged from AIIMS,
those currently undergoing treatment and their blood groups so that patients
who require plasma therapy can get it in time without any hassle.
7.
NLC India and Coal India form JV to develop solar and thermal power assets: The Central
Government-owned NLC India Ltd and Coal India Ltd have inked a Joint Venture
Agreement on 3rd July 2020 for formation of a Joint Venture Company (JVC) to
develop 5000 Megawatt of Solar and Thermal Power assets across the country.
Both companies will have 50:50 equity share in the joint venture company. NLC
India Limited is a government of India owned ‘Navratna’ company in the fossil
fuel mining sector and thermal power generation. Coal India Limited is an
Indian state-owned Maharatna coal mining and refinery company headquartered in
Kolkata. It is the largest coal-producing company in the world.
Note: Headquarter of Coal India: Kolkata,
West Bengal; Chairman and managing director of Coal India Ltd.: Pramod Agrawal
8.
Maharashtra Govt. signed MoU with UKIBC for Sustainable Business Relation: The UK India
Business Council signed a Memorandum of Understanding (Mou) with Maharashtra
Industrial Development Corporation (MIDC). MIDC is the premier industrial
infrastructure development agency of the Government of Maharashtra. This
business framework between the UKIBC and Government of Maharashtra will help
the State to proactively better its business environment and strengthen its
collaboration with British business.
Note: Maharashtra Capital: Mumbai;
Governor: Bhagat Singh Koshyari; CM:
Uddhav Thackeray
INTERNATIONAL UPDATES:
1.
India Joins as Founding Member of UNGA’s Alliance for Poverty Eradication: The UN General
Assembly (UNGA) President Tijjani Muhammad-Bande formally launched the
“Alliance for Poverty Eradication”. The Alliance aims to provide a forum for UN
member states to raise awareness about the danger that poverty poses to world
peace, human rights and sustainable development and also deliberate on measures
that need to be instituted so as to get the world economy working in the
aftermath of the COVID-19 pandemic. India has joined the Alliance as a founding
member. With this, India will not only get success towards poverty alleviation
but will also be able to share its experience in areas of agriculture, use of
technology and investment from which other nations can learn.
2.
ADB Becomes Observer for the Network for Greening the Financial System (NGFS): The Manila,
Philippines based Asian Development Bank (ADB) has joined the Central Banks and
Supervisors Network for Greening the Financial System (NGFS). ADB’s inclusion
as Observer will help the institution to fulfill its corporate strategy, ‘the
Strategy 2030’, particularly in tackling climate change, building climate and
disaster resilience, and enhancing environmental sustainability; fostering
regional cooperation and integration; and strengthening governance and
institutional capacity.
What is NGFS: NGFS was launched at the
Paris One Planet Summit on 12 December 2017. It is a group of central banks and
supervisors willing to share best practices and contribute to the development
of environment and climate risk management in the financial sector, while
mobilizing mainstream finance to support the transition toward a sustainable
economy.
Other Observers of NGFS: The other NGFS
Observers are World Bank, the International Finance Corporation, the
International Monetary Fund, and the Organisation for Economic Co-operation and
Development.
Note: President of Asian Development Bank:
Masatsugu Asakawa; Headquarters: Mandaluyong, Philippines; Founded: 19 December
1966
3.
World Allergy Week 2020: 28 June to 4 July 2020: Each Year World
Allergy Organization (WAO) organises World Allergy Week to raise awareness of
the impact of allergy in our communities. The World Allergy Week 2020 is being
celebrated from 28 June to 4 July 2020. The theme for 2020 is “Allergy care
does not stop with COVID-19.”
4.
International Co-operative Day 2020: 04th July: The International
Co-operative Day is held annually on the first Saturday in July since 1923 by
the International Co-operative Alliance to celebrate the co-operative movement
and to increase awareness of cooperatives. In 2020, the International
Co-operative Day is being observed on 04 July, 2020. The theme of International
Co-operative Day 2020 is: “Cooperatives
for Climate Action”.
OTHER UPDATES:
SPORTS
1.
Two-time Olympic winning Chinese Badminton Superstar Lin Dan Announces
Retirement: The
two-time Olympic badminton champion Lin Dan from China has announced his
retirement on 4 July 2020. The 37-year-old, won the Olympics singles titles in
Beijing in 2008 and the 2012 London Games. Dan, one of the sport’s greatest
singles players, has also won five World Championship and six All England
titles.
BANKING AND FINANCE
1.
ICICI Bank launches instant loan against mutual fund units: Private sector
lender ICICI Bank has launched a facility that enables retail customers to get
loan of up to Rs.1 crore instantly by pledging their holdings in both debt and
equity schemes of mutual funds. ICICI Bank has launched ‘Insta Loans against
Mutual Funds’ in partnership with ‘Computer Age Management Services’ (CAMS).
‘Insta Loans against Mutual Funds’ is an extension of the Insta LAS, an instant
loan facility against equity shares, which the bank had launched over a year
ago. The fully digital and paperless facility empowers the customers to avail
this loan as an overdraft (OD) in a matter of few minutes, without visiting a
branch and submitting physical documents.
2.
Union Bank revamps Insurance distribution channels post merger: The Union Bank of India
has expanded its insurance distribution channels after the amalgamation of
Andhra Bank and Corporation Bank with it with effect from April 1, 2020. Now
the bank will offer Insurance products of three life insurers, four general
insurers and two standalone health insurers. Prior to amalgamation Union Bank
was distributing insurance products of one life insurer, 3 general insurer and
one stand alone health insurer, under corporate agency tie-up agreements. They
were SUD Life Insurance Co Ltd, Bajaj Allianz General Insurance, New India
Assurance Co Ltd and Chola M.S. General Insurance Co Ltd and Religare Health
Insurance Co Ltd. Post-amalgamation, the bank has decided to continue corporate
agency agreement with India First Life Insurance Company Limited and LIC of
India under Life Insurance segment, United India Insurance under General
Insurance segment and Manipal Cigna Health Insurance under Health Insurance
Segment.
BUSINESS AND ECONOMY
1.
Reliance launches unlimited free conferencing app JioMeet: Billionaire Mukesh
Ambani-led Reliance Industries has launched a video conferencing app, JioMeet,
with unlimited free calling facility. It is a close competitor of US-owned Zoom
app. The JioMeet video conferencing app is available to work across Android, iOS,
Windows, macOS and web since July 2 after beta testing. JioMeet supports HD
audio and video call quality and allows up to 100 participants at a time. It
offers features like screen sharing, meeting schedule feature and more. Unlike
Zoom, it does not impose a 40-minute time limit. Calls can go on for as long as
24 hours, and all meetings are encrypted and password-protected.
2.
Intel Capital to buy 0.39% stake in Jio Platforms for Rs 1,894.50 crore: US based
Electronic chip maker Intel’s investment arm, Intel Capital to buy 0.39% stake
in Reliance Industries Limited (RIL)’s Jio Platforms for Rs 1,894.50 crore. The announcement was
made by Reliance Industries Limited on 3rd July 2020. With this investment,
equity value in Jio Platforms rose to Rs 4.91 lakh crore. In a matter of 11
weeks since 22nd April 2020, this was the 12th foreign investment in Jio
Platforms. With this investment, RIL holds 74.91% stake in Jio and 25.09% by
the investors.
Note: Intel Headquarters: California, U.S;
Chief Executive Officer: Robert (Bob) H. Swan
RIL Headquarters: Mumbai, Maharashtra;
Chairman & Managing Director: Mukesh Ambani
AWARDS AND HONOURS
1.
Indian author Kritika Pandey wins 2020 Commonwealth Short Story Prize: Indian author
Kritika Pandey, who won the 2020 Commonwealth Short Story Prize for the Asia
region on 2 June 2020, has been declared as the overall winner of the 2020
Commonwealth Short Story Prize. The 29-year-old has won the 5,000 pound award
for her story The Great Indian Tee and Snakes. Pandey, a resident of Ranchi,
Jharkhand, was chosen the overall winner from among the five regional winners,
in a virtual ceremony in London on 30 June 2020.
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