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Flipkart to open 5 fulfillment centers
- Flipkart will strengthen its grocery supply chain infrastructure across the country and add over 800,000 sq. ft of space through five new fulfillment centers over the next three months.
- With this additional infrastructure, the marketplace will bring ease of online grocery shopping to more users across the country.
- Flipkart Grocery offers over 7,000 products across 200 categories.
Punjab National Bank launches share sale
- Punjab National Bank has launched a so-called qualified institutional placement (QIP) offer to raise as much as Rs1,800 crore from institutional investors.
- This is the second time the bank has hit the market to raise funds from institutional investors in the last six months.
- It raised Rs 3,788 crore in December 2020 through a QIP.
US Treasury launches access to $350 billion
- The U.S. Treasury has launched access to $350 billion in COVID-19 aid for state, local, tribal and territorial governments.
- It has released rules for allowable uses and a prohibition on tax cuts by recipient states.
- States with seasonally adjusted unemployment rates that are now 2 percentage points above levels in February 2020 can receive all of the funds they are due immediately.
Bank of Baroda launches microsite
- Bank of Baroda has launched a micro-website that will serve as an emergency networking platform for all employees amid the 2nd wave of COVID-19.
- The microsite will offer vital data, including a network of plasma donors to employees.
- Recovered employees can also enroll themselves voluntarily as donors.
- The site is also hosting external links for suppliers of oxygen cylinders and Remdesivir.
NASA spacecraft begins a journey to Earth
- A NASA spacecraft began the long journey back to Earth on 10 May 2021.
- The trip to Earth for the robotic prospector, Osiris-Rex, will take two years.
- Osiris-Rex reached asteroid Bennu in 2018 and spent two years flying near and around it, before collecting rubble from the surface last fall.
- The spacecraft holds between a half pound and 1 pound of mostly bite-size chunks.
Twitter donates USD 15 millon for Covid relief
- Twitter has donated USD 15 million to help address the COVID-19 crisis in India which is battling the second wave of the deadly pandemic.
- The amount has been donated to three non-governmental organizations – Care, Aid India, and Sewa International USA.
- While CARE has been given USD 10 million, Aid India and Sewa International USA have received USD 2.5 million each.
China reports population growth closer to zero
- China’s population growth is falling closer to zero as fewer couples have children.
- The population rose by 72 million over the past decade to 1.411 billion in 2020, according to the National Bureau of Statistics.
- The annual growth averaged 0.53%, decelerating from the previous decade.
- Chinese leaders have enforced birth limits since 1980 to restrain population growth.
Starcom appoints Niti Kumar as COO
- Media agency Starcom has appointed Niti Kumar as the Chief Operating Officer (COO) with immediate effect.
- Before joining Starcom, Kumar was serving as Senior Vice President at Penguin Random House India.
- She has worked in leadership roles at GroupM (managing partner North and East at Mediacom) and Mudra Communications (office head, media, Delhi, and Kolkata).
- She is also a TEDx speaker.
Harley-Davidson launches brand ‘LiveWire’
- Harley-Davidson Inc has launched an all-electric motorcycle brand “LiveWire”.
- Named after Harley’s first electric motorbike, which was unveiled in 2019, the “LiveWire” division is slated to launch its first branded motorcycle in July 2021.
- LiveWire also plans to innovate and develop technology that will be applicable to Harley-Davidson electric motorcycles in the future.
Puducherry becomes ‘Har Ghar Jal’ UT
- Puducherry has become the ‘Har Ghar Jal’ Union Territory by ensuring that every rural home gets a household tap connection.
- It has now become the fourth state or UT after Goa, Telangana, and Andaman and Nicobar Islands to provide assured tap water supply to every rural home under Jal Jeevan Mission.
- All 1.16 lakh rural households in Puducherry have a tap water supply now.
Monthly stipend for MBBS students: J&K
- In J&K, a monthly stipend shall be paid to the final year MBBS students who would render services in various Covid hospitals across the UT.
- A monthly stipend of Rs 5,000 shall be paid to all such final year MBBS students, under Covid-19 Emergency Response Package (ECRP) of National Health Mission (NHM) J&K.
- It will be given to those who work for at least 100 days for Covid care.
KR Gouri Amma passes away
- Veteran Communist leader and the leader of Janadipathya Samrakshana Samiti (JSS), K.R. Gouri Amma passed away in May 2021.
- She has been the longest-serving woman legislator in the Kerala Assembly, the oldest woman member in the Assembly, and the oldest woman minister.
- She had been a minister in the first democratically elected Communist Government of 1957 in Kerala.
Over 1 lakh MTs of food grains distributed
- Over one lakh MT of food grains has been distributed to over 2 crore beneficiaries by 12 states and UTs so far under Pradhan Mantri Garib Kalyan Anna Yojana- PMGKAY-3.
- The Department of Food and Public Distribution started the implementation of the scheme for two months, May and June 2021 by providing an additional quota of free-of-cost foodgrains at a scale of 5 kilograms per person per month.
Flood reporting system launched in Assam
- An online flood reporting and information management system has been launched in Assam, which faces severe floods every year.
- The online system developed jointly by Assam State Disaster Management Agency and UNICEF will replace the existing manual flood control mechanism.
- Daily flood reporting between May 15 and October 15, 2021, has been made mandatory in Assam.
Outlook for aviation industry upgraded
- Moody’s has upgraded its outlook for the global airline industry to “positive” from “negative”.
- The rating agency expects steady vaccine rollouts across geographies to drive a rebound in commercial air travel.
- In terms of domestic air travel, Moody’s noted that China, the United States, and Australia are leading the recovery.
CSC, HDFC Bank launches chatbot ‘Eva’
- HDFC Bank and Common Services Centres (CSCs) have launched chatbot ‘Eva’ on CSCs Digital Seva Portal.
- It will support the Village Level Entrepreneurs (VLEs) in providing banking services for the last mile rural consumers.
- Through it, VLEs will learn about the products and services offered by the HDFC Bank.
- They will also be able to access training content to become a Business Correspondent.
Global renewable energy grew at the fastest pace
- Renewable energy grew at its fastest pace in two decades in 2020, led by China, and will continue to grow in the next two years.
- This was stated in a report by the International Energy Agency (IEA).
- New renewable energy capacity in 2020 rose by 45% to 280 gigawatts (GW) in 2020, the largest year-on-year increase since 1999, even though there were supply chain disruptions.
Indian cold chain logistics likely to grow 20%
- India’s cold chain sector is expected to grow at over 20 percent CAGR by 2025, according to JLL.
- This is due to its transformation from conventional cold storage to modern storage space.
- As per JLL, there is an opportunity for organized cold storage or ‘palettized’ cold storage in tier-I cities like Mumbai, Delhi-NCR, Bengaluru, Chennai, Pune, Kolkata, and Hyderabad.
AstraZeneca gives 80% lower death risk
- AstraZeneca’s COVID-19 vaccine’s one dose results in an 80% less risk of death from the disease, according to Public Health England.
- Protection against death from the Pfizer-BioNTech vaccine rises from approximately 80% after one dose to 97% after two doses in its new analysis.
- 2 doses of the Pfizer-BioNTech vaccine reduces the risk of hospitalization by 93% for the over 80s.
Seminar on social infrastructure financing
- The Department of Economic Affairs and the New Development Bank (NDB) will jointly organize a virtual seminar on “Social Infrastructure Financing and Use of Digital Technologies” on May 13, 2021.
- This is a part of the economic and financial cooperation agenda under the Indian BRICS Chairship, 2021.
- Ajay Seth, Secretary, Economic Affairs will make the inaugural address.