NATIONAL UPDATES:
1. 2 Day BIMSTEC Foreign Ministers’ Retreat Begins in New Delhi: External Affairs Minister Dr S Jaishankar held a series of meetings this evening on the sidelines of the BIMSTEC Foreign Ministers’ Retreat. He held a trilateral meeting with his counterparts from Thailand and Myanmar. Their discussions focused on connectivity projects crucial for the future of BIMSTEC.
They also exchanged views on border stability and humanitarian assistance.
2. Rajat Sharma appointed as NBDA’s president: The News Broadcasters & Digital Association (NBDA) has unanimously elected India TV chairman Rajat Sharma as its president. He replaces Avinash Pandey, the former CEO of ABP Network. NBDA is the largest organisation of news broadcasters and digital media in India, consisting of almost all major news networks in the country.
3. World’s Largest Ramayan Temple in Bihar: The second part of building the Viraat Ramayan Mandir in East Champaran, Bihar, has begun. This is a big step toward building what will likely be the biggest Ramayan temple in the world.
4. Madhya Pradesh Cabinet Approves Purchase of New VVIP Jet: The government of Madhya Pradesh recently gave the go-ahead to buy a new plane, a Challenger 3500 Jet Plane. To make it easier for VVIPs to get around, this choice was made with the help of Chief Minister Mohan Yadip.
INTERNATIONAL UPDATES:
1. REC raises 31.96 billion Japanese yen through 5-year green loan: Power sector financier REC Limited has raised 31.96 billion Japanese yen through a 5-year green loan, with the transaction being conducted from Deutsche Bank’s Gift City branch. The loan, which is equivalent to $200 million, will be used to finance eligible green projects in India. This successful transaction is in line with REC’s commitment to enhance its green energy financing and sustainable projects capabilities as well as the global community’s support for sustainable development projects in India. The transaction marked one of the first yen-denominated green loan transactions for Deutsche Bank through its Gift City branch.
2. Colombo Security Conclave welcomes Bangladesh as Fifth Member: A regional security grouping, Colombo Security Conclave (CSC) welcomed Bangladesh as its fifth member at the 8th Deputy National Security Adviser (DNSA) level meeting hosted virtually by Mauritius. The CSC includes India, Sri Lanka, Mauritius, and the Maldives, with Seychelles participating as an Observer State. The Colombo Security Conclave was established in 2020, when India, Sri Lanka and the Maldives agreed to expand the scope of their trilateral meeting on maritime cooperation.
Mauritius joined the conclave at the fifth meeting of the grouping in Male in March 2022. Member states agreed that the 7th NSA level meeting of the Colombo Security Conclave will be held in India later this year, the External Affairs Ministry said in a statement.
3. WHO launched MeDevIS Platform for Medical Device Information: The World Health Organization (WHO) has launched MeDevIS, an online platform that provides users with access to information on medical devices. The platform is designed to support decision-making on the selection, procurement, and use of medical devices for the prevention, diagnosis, and treatment of diseases and health conditions. MeDevIS includes 2301 types of medical devices used in various health areas, including reproductive, maternal, newborn and child health, noncommunicable diseases such as cancer, cardiovascular diseases, diabetes, and infectious diseases such as COVID-19. By providing a single platform that provides information on a wide range of devices, it is hoped that the platform will make it easier for healthcare professionals to make more informed decisions about the equipment they require.
OTHER UPDATES:
SPORTS
1. PUMA to be footwear partner for Indian contingent at Paris Olympics 2024: PUMA India has partnered with 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.
BANKING AND FINANCE
1. RBI permits banks to use ratings of Brickwork Ratings subject to conditions: The Reserve Bank of India has permitted banks to use the ratings of Brickwork Ratings India Private Limited, two years after the central bank had instructed its regulated entities that no fresh ratings would be obtained from the firm, which was pulled up by regulators for discrepancies. 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. In respect of existing ratings, Brickwork may undertake rating surveillance irrespective of the rated amount for the residual tenure of such loans.
2. Moody’s revises outlook on Yes Bank from ‘stable’ to ‘positive’: 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 capitalization over the past 2-3 years. This is somewhat offset by the bank’s weak core profitability driven by high funding costs and the strain from meeting priority sector lending (PSL) targets. The rating agency also affirmed Yes Bank’s “Ba3” long-term (LT) foreign currency (FC) and local currency (LC) bank deposit ratings.
3. SBI raises Rs 10,000 cr via infra bond issuance: State Bank of India (SBI) raised Rs. 10,000 crore today at a coupon rate of 7.36% through its sixth infrastructure bond issuance. The issue attracted overwhelming response from investors with bids in excess of Rs18,145 crore and was oversubscribed by around 3.6 times against the base issue size of Rs. 5,000 crore. The total number of bids received was 120 indicating wider participation with heterogeneity of bids. The investors were across provident funds, pension funds, insurance companies, mutual funds, corporates etc. The proceeds of bonds will be utilized in enhancing long term resources for funding infrastructure and affordable housing segment.
AWARDS AND HONOURS
1. Agriculture Leadership Awards 2024: Nagaland adjudged as Best State in Horticulture: 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.
2. Parijat Industries honoured with CSR Leadership Award 2024: Parijat Industries India Pvt. Ltd. received the prestigious CSR Leadership Award 2024 at the Agriculture Leadership Conclave held at Hotel Holiday Inn, Aerocity, New Delhi. The event was organized by the Agriculture Today Group. The award, presented by the National Awards Committee chaired by Former Chief Justice of India, Justice P. Sathasivam, recognizes Parijat Industries’ significant contributions to rural communities and farmers through a range of impactful projects. Parijat Industries (India) Private Limited is a fully integrated technical-to-final formulations manufacturing agrochemical company. With an advanced R&D-based integrated crop protection approach, Parijat manufactures active ingredients and formulations, selling them under its proprietary brands globally and within India.