NATIONAL UPDATES:
1. PM Modi address 1st anniversary of the National PM Vishwakarma Scheme: Prime Minister Narendra Modi attended the National PM Vishwakarma Program held in Wardha, Maharashtra to celebrate the first anniversary of the PM Vishwakarma Scheme.PM Modi launched the Central Sector Scheme “PM Vishwakarma” on 17 September 2023 in New Delhi.The Prime Minister also distributed Vishwakarma certificates and loans to the scheme’s beneficiaries.PM Modi also launched the Maharashtra Government’s Acharya Chanakya Skill Development Scheme and the Punyashlok Ahilyadevi Holkar Women Startup Scheme on this occasion.Modi also laid the foundation stone of PM Mega Integrated Textile Regions and Apparel (PM MITRA) Park at Amravati, Maharashtra.
2. JP Nadda Inaugurates the 2nd Global Food Regulators Summit 2024: Union Minister of Health and Family Welfare, Jagat Prakash Nadda has inaugurated the second edition of the Global Food Regulators Summit 2024 in New Delhi.The summit brings together countries’ food regulators to exchange information on aspects of food regulation and safety requirements. It also provides an opportunity to promote cooperation between the food regulators of various countries.The Summit has organized by the Food Safety and Standards Authority of India (FSSAI) under the aegis of the Ministry of Health and Family Welfare, alongside the World Food India 2024 event organised by the Ministry of Food Processing Industries.
3. RBI approves re-appointment of V Vaidyanathan as IDFC First Bank MD & CEO: The Reserve Bank of India (RBI) has approved the re-appointment of V Vaidyanathan as MD and CEO of IDFC First Bank for a period of three years effective from December 19, 2024, to December 18, 2027.
The bank’s board had initially approved the re-appointment on April 27, 2024, before Vaidyanathan’s current term expires in December 2024.Previously, he worked with Citibank from 1990 to 2000 and joined ICICI Bank in 2000, where he set up its Retail Banking division. He also served as the MD and CEO of ICICI Prudential Life Insurance in 2009.Vaidyanathan took over as MD and CEO of IDFC First Bank in December 2018, following the merger of IDFC Bank and Capital First.
4. Muthuswamy Iyer appointed as Chief Compliance Officer of CIFDAQ: CIFDAQ, a leading blockchain ecosystem firm has appointed Muthuswamy Iyer as Chief Compliance Officer (CCO).
Muthuswamy brings extensive experience in regulatory compliance and adherence to PMLA guidelines to his new position at CIFDAQ, having worked primarily in the securities market and Web3/blockchain sectors for over 25 years, including pivotal roles at WazirX, Edelweiss Broking Ltd, Karvy Stock Broking Ltd, Angel Broking Ltd, and National Stock Exchange of India Ltd.Muthuswamy has extensive experience in regulatory compliance, surveillance, and liaising with regulatory bodies. He is well-known for his crisis management abilities and ability to achieve outcomes under duress.
5. Vincent Menachery Devassy appoints as Whole Time Director of TamilNad Mercantile Bank: Vincent Menachery Devassy has been appointed as the Whole Time Director (Executive Director) of TamilNad Mercantile Bank for a period of three years.The Reserve Bank of India (RBI) approved this appointment under Section 35B of the Banking Regulation Act, 1949.Devassy began his career in State Bank of India and has over 39 years of experience in commercial banking. He has deep knowledge in retail banking, wealth management, and banking technology among others.
INTERNATIONAL UPDATES:
1. India extends USD 50 million budgetary support to Maldives for another year: India has extended budgetary support to the Maldives government in the form of a rollover of the USD 50 million Treasury Bill for another year on the Maldivian government’s request.At the request of the Maldivian government, the State Bank of India (SBI) has subscribed the USD 50 million government Treasury Bills (T-bills) issued by the Ministry of Finance of the Maldives for a period of one more year upon the maturity of the previous subscription.This is the second rollover granted by the Indian government this year, following the first rollover of a USD 50 million Treasury Bill in May.Earlier in May 2024, SBI had similarly subscribed a USD 50 mn T-bills under same mechanism, again on the request of the Government of Maldives. These subscriptions have been made at the special request of the Government of Maldives as emergency financial assistance.
2. Jordan became the first country to eliminate Leprosy: In a historic achievement, Jordan has become the first country to eliminate leprosy, receiving official verification from the World Health Organisation (WHO).This milestone reflects the country’s commitment to eradicating a disease that has plagued humanity for centuries and signifies a major breakthrough in global public health efforts.Jordan’s journey to this remarkable achievement began many years ago with targeted public health campaigns, early detection programs, and free, accessible treatments for all citizens.
3. 20 September – World Cleanup Day: World Cleanup Day is observed every year on 20 September.Objective – To observe World Cleanup Day through activities aimed at raising awareness of the role clean-up efforts play in sustainable development.The theme of the inaugural event, taking place on 20 September in the city of Tromsø, Norway, is “Arctic Cities and Marine Litter”.The event, convened with support from UN-Habitat, GRID-Arendal, and the Norwegian Retailers’ Environment Fund, and in collaboration with the Ministry of Local Government and Regional Development, the municipality of Tromsø.On 8 December 2023, the United Nations General Assembly, in its seventy-eighth session, unanimously adopted resolution 78/122 “World Cleanup Day”, which proclaims 20 September as World Cleanup Day.
4. 21 September – International Day of Peace: International Day of Peace is observed every year on 21 September.The Day is observed by humanity to promote a culture of peace, advocate a halt to hostilities and conflict around the world and resolve disputes and differences through dialogue and peace education.Theme 2024 – Cultivating a Culture of PeaceEstablished in 1981 by a unanimous United Nations resolution, Peace Day provides a globally shared date for all humanity to commit to Peace above all differences and to contribute to building a Culture of Peace.This year marks the 25th anniversary of the United Nations General Assembly’s adoption of the Declaration and Programme of Action on a Culture of Peace.
OTHER UPDATES:
DEFENCE
1. Anurag Garg appointed as DG of Narcotics Control Bureau: Anurag Garg has been appointed as the new director general of the Narcotics Control Bureau (NCB).Garg is currently working as an Additional DG in the Border Security Force (BSF) at its headquarters here.Garg is the 1993 batch Indian Police Service officer from the Himachal Pradesh cadre.
SCIENCE AND TECHNOLOGY
2. TCOE-VTU-VRIF sign MoU to establish a Centre of Excellence in Quantum Technology and associated 5G/6G Technologies: In a significant move to bolster, India’s leadership in technological innovation, an MoU was signed between the Telecom Centre of Excellence (TCOE) India and Visvesvaraya Technological University (VTU) – Visvesvaraya Research & Innovation Foundation (VRIF).The landmark MoU is for establishing a Centre of Excellence (CoE) in Quantum Technology, associated 5G/6G Technologies etc, and other frontier areas of research and development.This CoE, headquartered at VTU-VRIF Bangalore, aims to accelerate India’s progress across these key sectors and is part of the 100-day programme.
BANKING AND FINANCE
1. Jana SFB introduces “Liquid Plus Fixed Deposit”: A Comprehensive Solution to Manage Short Term Liquidity Needs: Jana Small Finance Bank, one of India’s leading small finance banks, has launched a comprehensive solution “Liquid Plus” Fixed Deposit with attractive interest rate of 6.75% p.a. for tenures ranging from 7 to 180 days.The rate is applicable for the minimum deposit amount of INR 10 Lakhs for retail deposits up to INR 3 Crores and above INR 3 Crores to INR 200 Crores for bulk deposits per customer.The liquid plus fixed deposit makes short term deployment of funds extremely easy and attractive with higher returns. The Bank has taken this step based on the feedback from customers seeking placement of short-term funds.
2. SBI General Insurance joins hand with BLS E-Services to Streamline Access to Insurance Across India: BLS E-Services has tied up with SBI General Insurance to offer a range of insurance products directly to customers across India.This tie up is aimed at broadening access to key insurance offerings, such as ‘Hospicash’, vehicle insurance, personal accident insurance, and shop insurance, leveraging BLS’s extensive network.This collaboration represents a pivotal moment in our journey towards financial inclusion. By bringing insurance products, we are not just facilitating transactions – we are empowering individuals and businesses also to secure their futures with confidence.Chairman of BLS E-Services – Shikhar Aggarwal
3. YES Bank launched PaisaSave Cashback Credit Card: Paisabazaar, India’s leading online marketplace for consumer credit and free credit score platform, has partnered with Yes Bank to unveil their co-branded credit card – YES BANK Paisabazaar PaisaSave Credit Card.The PaisaSave Credit Card is designed to reward frequent shoppers by offering substantial cashback on everyday purchases, both online and offline, making it a must-have for the value-conscious customers.The PaisaSave Credit Card provides an easy way for customers to save as they spend, especially on online transactions where cashback is accelerated to 3%. Whether shopping on popular e-commerce sites or paying at physical stores, the card ensures consistent savings through its unlimited cashback feature.
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