Table of Contents
National News
3 Online Platforms Launched to Boost Country’s Power Sector Efficiency
The Union Ministry of Power launched three new online platforms—PROMPT, DRIPS, and JAL VIDYUT DPR—to enhance efficiency, transparency, and effectiveness in the power sector. These platforms, unveiled by Union Minister Manohar Lal Khattar on August 20, 2024, in New Delhi, were developed by the Central Electricity Authority (CEA) under the Ministry of Power, with NTPC assisting in the development of the PROMPT platform.
Banking News
RBI Forecasts Private Capex to Rise to ₹2.45 Trillion in FY25
The Reserve Bank of India (RBI) study forecasts a substantial increase in private capital expenditure, projecting it to reach ₹2.45 trillion in FY25, up from ₹1.59 trillion in FY24. This rise is attributed to robust investment intentions and the ongoing emphasis on infrastructure development.
NPCI Launches ‘UPI Circle’ for Secure Payments Among Trusted Users
The National Payments Corporation of India (NPCI) has unveiled a new feature called ‘UPI Circle’ on the Unified Payments Interface (UPI) platform, allowing primary UPI account holders to securely delegate payment responsibilities to trusted secondary users. This feature aims to enhance convenience and security in digital transactions by enabling primary users to link their UPI accounts with secondary users, who can then make payments on their behalf within pre-defined limits.
Appointments News
Amardeep Singh Bhatia Appointed as DPIIT Secretary
Amardeep Singh Bhatia, a 1993-batch IAS officer from the Nagaland cadre, has officially assumed the role of Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT). He succeeds Rajesh Kumar Singh, who has been appointed as Officer on Special Duty in the Department of Defence. Bhatia’s extensive experience includes key roles in both central and state governments, particularly in the Ministries of Corporate Affairs and Health & Family Welfare.
Rajesh Nambiar Named NASSCOM President-Designate, Succeeds Ghosh
Rajesh Nambiar has been appointed as the president-designate of the National Association of Software and Service Companies (NASSCOM), succeeding Debjani Ghosh, whose tenure concludes in November 2024. Following this appointment, Nambiar has resigned from his role as Chairman and Managing Director of Cognizant India. His extensive industry experience, including leadership roles at TCS, IBM, Ciena, and Cognizant, positions him as a key figure in guiding India’s tech sector through its next phase of growth.
Agreements News
Indian Navy Signs MoU with BEML Ltd.
The Indian Navy has signed a significant Memorandum of Understanding (MoU) with BEML Ltd., a leading defence and heavy engineering manufacturer, on August 20, 2024. This strategic partnership, concluded at the Naval Headquarters in New Delhi, marks a pivotal step towards bolstering indigenous marine engineering capabilities in alignment with the Government of India’s Aatmanirbhar Bharat initiative.
KVIC & DoP Sign MoU For Physical Verification of PMEGP
Khadi and Village Industries Commission (KVIC), Ministry of Micro, Small and Medium Enterprises (MSME) signed an important MoU with the Department of Posts working under the Ministry of Communications at KVIC, Rajghat New Delhi office on August 20.
Business News
NCLT Approves Slice-North East Small Finance Bank Merger
The National Company Law Tribunal (NCLT) has approved the merger of Slice, a leading fintech company in India, with North East Small Finance Bank (NESFB). This merger, sanctioned by the NCLT’s Guwahati bench, marks a significant step towards enhancing financial inclusion in India, combining Slice’s digital expertise with NESFB’s grassroots banking capabilities. The merger was greenlit following approvals from the Competition Commission of India (CCI), the Reserve Bank of India (RBI), and other key regulatory bodies.
Zomato Acquires Paytm’s Entertainment Ticketing Business
In a recent development, Zomato has approved the acquisition of Paytm’s entertainment and ticketing business for ₹2,048 crore in a cash deal. This move marks Zomato’s expansion into the broader lifestyle services sector, including dining, movies, sports ticketing, live performances, shopping, and staycations. Meanwhile, Paytm aims to refocus on its core financial services.
Awards News
National Geoscience Awards 2023: Honoring Excellence in Earth Sciences
President Droupadi Murmu presided over a distinguished ceremony at the Rashtrapati Bhavan in New Delhi to confer the prestigious 2023 National Geoscience Awards to outstanding individuals and teams in the field of geosciences. The highlight of the event was the presentation of the Lifetime Achievement Award to Prof. Dhiraj Mohan Banerjee, Emeritus Scientist at the Indian National Science Academy (INSA).
Union Minister Giriraj Singh Presents Handicrafts Exports Awards
The Export Promotion Council for Handicrafts (EPCH) organised its 24th Handicrafts Export Awards Function on August 21, at the Convention Hall, The Ashok Hotel, New Delhi. Union Minister of Textiles Giriraj Singh has highlighted the handicrafts sector’s pivotal role in the growth of Indian economy.
President Murmu Gives Away First-Ever Rashtriya Vigyan Puraskar
President Droupadi Murmu presided over the first-ever investiture ceremony for the Rashtriya Vigyan Puraskar (National Science Awards). These awards, instituted last year to replace all existing science accolades, mark a new chapter in recognizing scientific excellence in the country.
Important Days
International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief 2024
The General Assembly, in its resolution A/RES/73/296, designated August 22 as the International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief recognising the importance of providing victims of acts of violence based on religion or belief and members of their families with appropriate support and assistance in accordance with applicable law. Freedom of religion or belief is a fundamental human right that intersects with several other crucial freedoms. These rights are not only important individually but also work together to create a framework for a just and tolerant society.
Sports News
Germany Captain Ilkay Gundogan Announces International Retirement from Football
Ilkay Gundogan, the 33-year-old captain of the German national football team, has officially announced his retirement from international football. This decision comes on the heels of Germany’s performance at Euro 2024, where Gundogan led his country to the quarterfinals before falling to the eventual champions, Spain, in extra time.
Obituaries News
Former CSIR Director-General Girish Sahni Passes Away at 68
Dr. Girish Sahni, the former director-general of the Council of Scientific and Industrial Research (CSIR), passed away on August 19, 2024, at the age of 68. Sources reported to The Hindu that the cause of death was a heart attack. CSIR expressed its mourning through a post on X (formerly Twitter) at 5:40 pm on the same day.
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