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IEEMA appoints Charu as Director-General
- Industry body Indian Electrical and Electronics Manufacturers’ Association (IEEMA) has appointed Charu Mathur as its new Director General (DG).
- Mathur succeeds Sunil Misra, who superannuated in July 2021.
- IEEMA is the apex association of electrical and allied equipment manufacturers in India
- The Indian electrical equipment industry size is USD 50 billion, with exports of USD 8.5 billion.
India’s Data centre industry to double by 2023
- The capacity of the data centre industry is expected to double by 2023 to over 1,000 MW, according to a report released by JLL India.
- The capacity expansion is driven by strong digitalisation, rising cloud adoption and ambitious growth plans of data centre operators.
- JLL released its ‘H1 2021 India Data Centre Market Update’ on 24 August 2021.
Infosys touches USD 100-bn m-cap
- Infosys Ltd has become the fourth Indian company to touch a market valuation of USD 100 billion.
- It has joined the league of TCS, Reliance Industries, and HDFC Bank for crossing the USD 100 billion mark in terms of market capitalization (m-cap).
- According to the latest m-cap data, Reliance Industries is the most-valued firm, followed by Tata Consultancy Services and HDFC Bank.
REITs, InvITs to be included in Nifty indices
- Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts would be included in the Nifty indices from September 30, 2021.
- REIT comprises a portfolio of commercial real assets, a major portion of which is already leased out.
- InvITs comprise a portfolio of infrastructure assets such as highways, power transmission assets.
India-ASEAN Engineering Partnership Summit
- Union Minister of State for Commerce and Industry Anupriya Patel inaugurated the “India-ASEAN Engineering Partnership Summit” on 24 Aug’21.
- It was organized by the Engineering Exports Promotion Council (EEPC) with support from the Ministry of External Affairs and the Department of Commerce.
- It offers an important platform for engagement of Indian industry on India-ASEAN partnership.
eSanjeevani completes 1cr teleconsultations
- The Union health ministry’s eSanjeevani has conducted more than 1 crore teleconsultations across India.
- eSanjeevani has been used by the public in 701 districts across India and over 56 percent of the patients on eSanjeevani are females.
- The top 7 states which have registered highest consultations are Andhra Pradesh, Karnataka, Tamil Nadu, Uttar Pradesh, Gujarat, Madhya Pradesh, and Bihar.
Indigenous powder for the repair of aero-engines
- Indian scientists have for the first time repaired aero-engine components through a 3D printing technique that can significantly reduce repair costs.
- They made powders suitable for the additive manufacturing process called the Directed Energy Deposition process.
- It was developed by scientists from the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI).
Pakistan tests indigenous rocket system
- Pakistan on 24 August 2021 successfully test-launched an indigenously developed guided multi-launch rocket system, Fatah-1.
- It is capable of precisely delivering conventional warheads deep into ”enemy territory.
- This was the second flight of Fatah-1, after its first launch in January 2021.
- The fatah-1 weapon system can hit targets up to a range of 140 km.
Microsoft partner with Invest India
- Microsoft joined forces with Invest India to empower tech startups in the country on 24 August 2021.
- Invest India is the national investment promotion and facilitation agency of the Government of India.
- The collaboration would see Microsoft for Startups program working closely with Invest India’s AGNIi (Accelerating Growth of New India’s Innovations) Mission.
MoMA to hold Urdu poetry symposium
- The Ministry of Minority Affairs (MA) would hold an Urdu poetry symposium on August 28, 2021, as part of the “Amrit Mahotsav” celebrations to mark 75 years of Independence.
- The symposium, “Mera Watan, Mera Chaman”, would see poets presenting their works on the celebration of India’s independence.
- The Ministry also aims to organize Mushaira and Kavi Sammelan across the country till 2023.
India contributes USD 1 million to Zimbabwe
- The Government of India has contributed USD 1 million to the United Nations World Food Programme (WFP) in Zimbabwe to help affected populations tackle climate shocks.
- The contribution, provided through the India-UN Development Partnership Fund, would be used to assist more than 5200 smallholder farmers.
- The project would promote the cultivation of drought-tolerant small grains and legumes.
RapiPay appoints Nipun Jain as CEO
- RapiPay, a fintech company in the assisted payments category, has appointed Nipun Jain as the Chief Executive Officer.
- Prior to joining RapiPay, he has previously worked with Yes Bank and ICICI Bank.
- Jain has over three decades of experience as retail banking professional with expertise in setting and scaling up businesses.
Assam government to spend Rs 7,200 crore
- Assam CM Himanta Biswa Sarma has informed that around 11 lakh borrowers who are making regular payments against the loan will get Rs 25,000 each.
- The state government would be required to spend close to Rs. 7,200 crore in loan waiver.
- The government of Assam signed an MOU with Microfinance Institutions for the implementation of Assam Micro Finance Incentive and Relief Scheme (AMFIRS), 2021.
Hariswami Das selected for President’s Award
- Headmaster of Malda’s Shovanagar High School Hariswami Das has been selected for the President’s Award from Bengal’s Malda for 2021.
- He will be awarded for his digital educational model created in time of COVID in 2020 by reaching digital learning at the doorstep of the students through relentless hard work.
- His attempts to make plastic-free campus is also much acclaimed.
Labour Ministry to launch e-Shram portal
- The Labour Ministry will launch the National Database for Unorganised Workers (NDUW) or e-Shram portal on August 26, 2021.
- It is estimated that 92% of India’s workforce of 500 million is unorganised, often deprived of minimum wages and any form of social security.
- This will be a single-point reference to help authorities reach out to and track workers in the informal sector.
World’s first fossil-free steel manufactured
- The first fossil-free steel in the world has been delivered by Swedish steelmaker SSAB Oxelösund to its first customer, Volvo Group.
- The product was manufactured in northern Sweden, using the Hybrit technology, which was developed by SSAB in partnership with iron-ore miner LKAB and utility Vattenfall.
- The technology uses 100% fossil-free hydrogen instead of coal and coke.
Swiggy launches a program
- Swiggy has rolled out a program that will see it offer benefits worth ₹63 crores to restaurants, especially small and medium eateries affected by the pandemic.
- The initiative is an extension of Swiggy’s Jumpstart package launched in June 2020 which helped over 50,000 restaurants.
- The Jumpstart 2.0 program will offer benefits such as enhanced visibility of restaurants for consumers.
Sunpure appoints Sonu Sood for the new campaign
- Edible cooking oil brand Sunpure has onboarded actor Sonu Sood as its brand ambassador.
- The actor will be seen in an ad campaign for the edible oil brand that is largely sold in south India.
- The new campaign will be launched in Maharashtra, Karnataka, Kerala, Andhra Pradesh, Telangana, and Tamil Nadu.
- Sunpure is sold by MK Agrotech Pvt. Ltd, which is a more than two-decade-old company.
Harvard publishes a case study
- US-based Harvard University has published a case study on the successful merger of two Indian state-owned banks, Indian Bank and Allahabad Bank.
- This is the first time that Harvard has published a case study on the amalgamation of two equal-sized Indian banks.
- The case study titled ‘Merger of Equals’ has been commissioned by Indian School of Business (ISB).
NHPC signs MoU with PFC
- Hydropower producer NHPC Limited has signed a memorandum of understanding with Power Finance Corporation (PFC).
- The agreement is for funding hydroelectric projects by NHPC.
- PFC will also lend funds for the acquisition of stressed assets.
- The association will also serve to facilitate knowledge and technology transfer, contributing to sustainable development initiatives in the country.
India’s ReNew Power lists on Nasdaq
- ReNew Power Pvt Ltd (ReNew Power) has become the first Indian top renewable company to go global and get listed in Nasdaq.
- It has completed business combination with US-based RMG Acquisition Corporation II (RMG II).
- ReNew Power in February 2021 had announced a merger with blank-check company RMG II, giving India’s biggest renewable power producer an enterprise value of $8 billion.
Rs 39 cr memorial announced for Karunanidhi
- A Rs 39-crore memorial for late DMK president and former Tamil Nadu Chief Minister M Karunanidhi will be constructed at the Marina on Kamarajar Salai.
- It is being constructed in recognition of his efforts to create a “modern Tamil Nadu”.
- The “Kalaignar Memorial” on the famous beach, where he has been laid to rest after his demise on August 7, 2018, will come up on 2.21 acres of land.
World’s tallest observation wheel to open
- The world’s largest and tallest observation wheel will open in Dubai on October 21, 2021.
- At nearly twice the height of the London Eye, Ain Dubai will take visitors to a height of 250 metres from where they could enjoy a majestic view of Dubai’s picturesque skyline.
- Ain Dubai is the latest landmark to join Dubai’s long list of world record-breaking attractions.
FM Sitharaman launches EASE 4.0
- Finance minister Nirmala Sitharaman undertake an annual performance review of public sector banks (PSBs) in Mumbai on 25 August 2021.
- Enhanced Access and Service Excellence (Ease) 4.0 reforms agenda for financial year 2021-22 was unveiled by FM Nirmala Sitharaman.
- Ease is a common reform agenda for all Public Sector Banks (PSBs) aimed at institutionalising clean and smart banking.
Rolling Stones drummer Charlie Watts dies
- Charlie Watts, the influential longtime drummer for the Rolling Stones, passed away in August 2021.
- He had been a member of the Stones since January 1963, when he joined Mick Jagger, Keith Richards, and Brian Jones in their group.
- In 2016, Watts was ranked 12th in Rolling Stone magazine’s list of the 100 greatest drummers of all time.
- The Rolling Stones are an English rock band.
Battery Smart inks deal with GoMechanic
- Battery Smart has announced a partnership with GoMechanic, a network of tech enabled car service and spares centres.
- Battery Smart is a battery swapping network for electric two and three-wheelers,
- Through the partnership, Battery Smart will set up battery swapping stations in 100+ GoMechanic garages across India, with the first one live in west Delhi.
FSS Technologies partners with Askrindo
- Integrated payments processor provider, FSS Technologies has announced its partnership with Askrindo.
- Askrindo is an Indonesian insurance services provider, catering to the insurance needs of medium and the small enterprise segment.
- Askrindo has implemented FSS’ Smart Recon solution to modernize and maximize the efficiency of its reconciliation operations.
‘Forum for Decarbonizing Transport’ launched
- NITI Aayog and World Resources Institute (WRI), India, jointly launched the ‘Forum for Decarbonizing Transport’ in India as part of the NDC-Transport Initiative for Asia (NDC-TIA) project on 23 August 2021.
- The launch was held virtually and inaugurated by NITI Aayog CEO Amitabh Kant.
- The project aims at bringing down the peak level of GHG emissions (transport sector) in Asia.
Safe Cities Index 2021 launched
- A new report by the Economist Intelligence Unit (EIU) found that Copenhagen is now the world’s safest city, surpassing previous frontrunners Tokyo, Singapore, and Osaka.
- First launched in 2015, the Safe Cities Index is updated once every two years to reveal which cities are the safest based on new criteria.
- Amsterdam and Wellington also feature in the top 10.
Abhay Kumar appointed Joint Secretary
- The Appointments Committee of the Cabinet (ACC) has appointed Abhay Kumar Singh as Joint Secretary of the newly formed Ministry of Cooperation.
- He is an Indian Administrative Service (IAS) officer, Bihar Cadre of 2004 batch.
- He has been appointed for a combined tenure of seven years upto 30 August 2022 from the date of assumption of the charge of the post.
TSECL renews agreement with Bangladesh
- The Tripura State Electricity Corporation Limited has renewed an agreement with the Bangladesh government for power export that expired in March 2021 last.
- In 2016 TSECL signed the deal with Bangladesh for the supply of 160 megawatts of power and the five-year agreement expired in March 2021.
- The state is getting good rates from Bangladesh in comparison to the domestic rates.
O Chandrasekharan passes away
- Former Indian Footballer O Chandrasekharan passed away in August 2021.
- Chandrasekharan was part of the Indian team that participated in the 1960 Rome and the 1964 Tokyo Olympics.
- He was also a member of the Indian team that won the gold in 1962 Asian Games in Jakarta and silver medal in Asian Cup in Tel Aviv the same year.
- He captained the Maharashtra team that won the 1963 Santhosh Trophy.
Arvind: MD of Chennai Petroleum Corporation
- Executive Director of Indian Oil Corporation Ltd (IOCL), Arvind Kumar, has been appointed as Managing Director of Chennai Petroleum Corporation Limited (CPCL).
- Kumar has been appointed for a period of five years with effect from the date of his assumption of charge of the post or till the date of his superannuation, or until further orders, whichever is the earliest.
India, Russia to form a channel
- India and Russia have decided to form a permanent bilateral channel for consultations on Afghanistan and Afghan-based terror.
- This was decided when PM Narendra Modi and Russian President Vladimir Putin held a detailed dialogue on the situation in the land-locked country following the Taliban takeover.
- The mechanism will be formed at a senior level.
Harish Parvathaneni: Ambassador to Germany
- Harish Parvathaneni, an Indian Foreign Service officer of the 1990 batch, has been appointed as the next Ambassador of India to Germany.
- He is presently Additional Secretary in the Ministry, has been appointed as the next Ambassador of India to the Federal Republic of Germany.
- He is expected to take up the assignment shortly.
Kathy Hochul: New York’s first female governor
- Kathy Hochul has become the first female governor of New York.
- For the first time, a majority of the most powerful figures in New York state government will be women, including state Senate Majority Leader Andrea Stewart-Cousins, Attorney General Letitia James, and the chief judge, DiFiore.
- The state Assembly is led by Speaker Carl Heastie.
Chikungunya vaccine phase trial launched
- The International Vaccine Institute (IVI) has announced that the first participant received Bharat Biotech’s Chikungunya vaccine candidate (BBV87) in a Phase 2/3 clinical trial in Costa Rica.
- The development is the start of a multi-country study led by IVI in partnership with Bharat Biotech and funded by the Coalition for Epidemic Preparedness Innovations (CEPI).
SBI to handle Ayushman Bharat Yojana
- The govt of Punjab has selected SBI General Insurance to service Ayushman Bharat Sarbat Sehmat Bima Yojana (AB-SSBY).
- The scheme will provide cashless health insurance cover of Rs 5 lakh annually to eligible families.
- There are more than 40 lakh eligible families that are expected to come under the ambit of the scheme.
Pakistan gets 2.75 billion from IMF
- Pakistan has received $2.75 billion from the International Monetary Fund (IMF) under a Special Drawing Rights (SDR) programme to support low-income countries hit by the coronavirus.
- The funds, part of a $650 billion global programme, will shore up Pakistan’s foreign reserves.
- Pakistan has reported more than 1.1 million coronavirus cases and more than 25,000 pandemic-related deaths.
NERDSD Goal Index Report to be launched
- First edition of the North Eastern Region District Sustainable Development Goal Index Report and Dashboard 2021-22 will be launched on 26 August 2021.
- It will be launched by NITI Aayog and the Ministry of Development of North Eastern Region.
- This is the first of its kind region-wide district SDG index in the country.
NSA Ajit Doval hosts 11th Meeting of BRICS
- National Security Adviser Ajit Doval hosted the 11th Meeting of the BRICS High Representatives Responsible for National Security through video conferencing on 24 Aug’21.
- India is holding the Chairship of BRICS for 2021 which coincides with the 15th anniversary of the BRICS grouping.
- The meeting of the High Representatives took place before the Summit Meeting of Leaders of the BRICS nations.