International News
USIDFC to Invest $350 million in Indian Firms
- The United States International Development Finance Corporation (USIDFC) will be investing 350 million in Indian Firms to support multiple projects in India.
- The projects supported by USIDFC will be in fields of finance, health infrastructure, renewable energy, food security, dairy farming.
National News
COVID BEEP App – Launched by Dr Jitendra Singh
- COVID BEEP app is India’s first indigenous wireless physiological parameter monitoring system for coronavirus patients.
- Its acronym is Continuous Oxygenation and Vital Information Detection Biomed ECIL ESIC Pod.
PhonePe Launched Domestic Trip Insurance with ICICI Lombard
- PhonePe in partnership with ICICI Lombard has launched first of its kind travel insurance which is domestic multi-trip insurance for all modes of travel within the country.
- The policy provides affordable annual insurance cover for unlimited trips. At Rs 499, it provides 365-day protection and covers all mode of transport.
GOI Allots Rs 4000 cr to States Under ‘Per Drop More Crop’
- An annual allotment of Rs 4000 crore has been approved by Government of India to State governments under ‘Per drop more crop’ component of Pradhan Mantri Krishi Sinchayee Yojana (PMKSY-PDMC) for FY 2020-21.
Deep Submergence Rescue Vehicle Complex
- Deep Submergence Rescue Vehicle (DSRV) was inaugurated at Eastern Naval Command (ENC) in Visakhapatnam, Andhra Pradesh.
- The complex is built to accommodate newly designed submarines and its rescue systems and store DSRV assets.
‘Turant Customs’—CBIC Flagship Programme
- The Central Board of Indirect Taxes and Customs (CBIC) has launched a flagship programme called ‘Turant Customs’.
- ‘Turant Customs’ is a reformative programme in order to ensure ease of doing business.
TCS iON Partners with NSDC
- TCS iON, which is a unit of TCS has partnered with National Skill Development Corporation (NSDC).
- The partnership will provide access to the TCS iON digital classroom to the NSDC’s training partners.
ePaisa and First Alliance Bank to Promote POS Solutions in Africa
- ePaisa, a Point Of Sale (POS) solution provider in India has entered into a partnership with First Alliance Bank (FAB) Ltd in Zambia to provide POS solutions in Africa.
- This is the first global partnership for ePaisa and thus will provide a POS solution for FAB.
NHAI—First ‘Fully Digital’ Construction Sector Organisation
- National Highway Authority of India (NHAI) which comes under the Ministry of Road Transport and Highways, has become the first fully digitalized organisation under the construction sector category.
- NHAI has propelled the use of cloud-based technology and AI-powered big data analytics platform, which is powered by Data Lake and project management services.
Ghar Ghar Nigrani App—Punjab
- Punjab Government has launched a mobile app called ‘Ghar Ghar Nigrani’.
- Ghar Ghar Nigrani app is an initiative of the health department, which is comprised of ASHA workers and community volunteers which carry out the testing process for COVID-19.
Aarogyapath Web-Based Solution - By GOI
- Government of India has launched an Aarogyapath which is a web-based solution which provides availability of critical healthcare supply commodities on a real-time basis.
- The web-based solution is made available by GOI on CSIR National Healthcare Supply Chain Portal.
STREE Programme—Hyderabad
- STREE stands for ‘She Triumphs Through Respect, Equality and Empowerment’.
- It is a programme launched to support and empower women who are victims of domestic violence and abuse.
Banking
NABARD Provides Rs 270 Crore to AGVB Bank
- National Bank for Agriculture and Rural Development (NABARD) has allocated a special liquidity fund of Rs 270 crore to Assam Gramin Vikash Bank (AGVB).
- The fund has been allocated in the view of COVID-19 pandemic in order to support farmers to carry out their agricultural activities.
New Norms for Loan Sales and Securitisations—By RBI
- The Reserve Bank of India has released two draft documents titled as ‘Draft Comprehensive Framework for Sale of Loan Exposures’ and ‘Draft Framework for Securitisation of Standard Assets’.
Indian Economy to Contract by 3.2% in FY 20-21
- The World Bank has released its latest edition of Global Economic Prospects (GEP) for the months of June 2020.
- As per the report, India’s growth to contract by 3.2% for the financial year 2020-21.
West Bengal gets Rs 1950 Crore Loan from World Bank
- World Bank has granted financial support by providing a loan amount of Rs 1950 crore to West Bengal.
- The loan amount will help West Bengal to tackle the pandemic situation of COVID-19 and to carry out development work in the state.
Indian Economy to Contract at 3.7% for FY 21 -- By OECD
- The organisation of Economic Co-operation and Development has projected that Indian Economy to contract at 3.7% for FY 2020-2021.
- This prediction by OECD is released in its economic Outlook.
RBI Restricts People’s Co-operative Bank to Grant Fresh Loans
- The Reserve Bank of India has restricted Kanpur, UP based People’s Co-operative Bank from granting fresh loans and accepting deposits for six months i.e. from 10th June 2020.
- The decision has been taken due to the weak financial status of the bank.
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