NPCI Rationalises MDR, New Charges From October 1

Short Detail

National Payments Corporation of India (NPCI) has rationalised merchant discount rates(MDR) for BHIM UPI (Unified Payment Interface ) transactions.

NPCI has rationalises BHIM UPI charges for merchant transactions to promote digital payments. Source:wikipedia.org

The NPCI already launched P2PM (an addition of the P2P (Peer to Peer) and P2M (Peer to Merchant),that waives off the MDR for small businesses that carry inward transactions of up to INR 50,000. This limit is now extended to Rs 1,00,000 per month .

Haryana CM releases book penned by senior IPS officer OP Singh

Short Detail

Chief Minister of Haryana, Manohar Lal Khattar released a book titled ‘Jin Dhoondha Tin Paaiyan’ in Hindi at Chandigarh, written by senior IPS (Indian Police Service) officer O P Singh, an ADGP (Additional Director General of Police) rank officer in Haryana police, who is currently Special Officer to the Haryana chief minister. It is the third book of the officer which covers a wide range of issues including crime, violence, police, sports and social media.

Build For Digital India: MeitY Partners With Google To Support Student Entrepreneurship

Short Detail

The Ministry of Electronics and Information Technology(MeitY) has signed a statement of intent with multinational technology company, Google for rolling out ‘Build for Digital India’ programme, which will provide engineering students with a platform to develop market-ready, technology-based solutions that deals with key social challenges.

MeitY partners with Google to roll-out ‘Build for Digital India’ programme. Source:aninews.in

The program will look for college students’ bright ideas and solutions to focus on areas such as healthcare, agriculture, education, smart cities and infrastructure, women safety, smart mobility and transportation, environment, accessibility and disability, and digital literacy.

Amit Shah Meets Interpol Chief, Conveys Concern Over Red Corner Notices

Short Detail

International Criminal Police Organization (INTERPOL) Secretary General, Mr. Jürgen Stock, called on Union Home Minister, Shri Amit Shah, in New Delhi. He assured the best support of INTERPOL for the fight against terror.

Secretary-General of INTERPOL, Mr. Jurgen Stock, called on Union Home Minister, Shri Amit Shah, in New Delhi. Source:ndtv.com

A red corner notice is a kind of international arrest warrant for fugitives where Interpol requests its member-countries to arrest or detain them.

RBI extends banking license of Rupee Cooperative Bank till Nov 30, 2019

Short Detail

Reserve Bank of India (RBI) extended the banking license of Rupee Cooperative Bank Ltd till November 30, 2019. The Bank has paid Rs.338.20 crores to 85,462 needy depositors under hardship scheme of RBI and it has deposits of Rs.1291.00 crores. The Rupee Co-op Bank & MSC (Maharashtra State Cooperative) Bank are going to submit a joint proposal for the merger to RBI. The decision has been taken by RBI after exercising its power under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949.

Banking license of Rupee Cooperative Bank extended by RBI till Nov 30, 2019. Source:rupeebank.com

India, Ghana to cooperate in trade, defence, health among other sectors

Short Detail

The first ever India-Ghana Foreign Office Consultations was held in New Delhi. The Indian delegation was led by Shri. T.S Tirumurti, Secretary (Economic Relations) while the Ghanaian delegation was led by Mr. Charles Owiredu, Deputy Minister of Foreign Affairs and Regional Integration.

1st India-Ghana Foreign Office Consultations held in New Delhi. Source:aninews.in

2% TDS on cash withdrawals of over Rs 1 crore from September 1: Tax department

Short Detail

The Department of Revenue notified that 2% tax deduction at source (TDS) on cash withdrawals of over Rs 1 crore will come into effect from September 1, 2019. The government had made this provision in the Union Budget 2019-20 with an aim to discourage cash transactions and move towards less cash economy.

2% TDS on cash withdrawals of over Rs 1 crore to come into effect from September 1, 2019. Source:sirfnews.com

Since the threshold of Rs 1 crore is with respect to the previous year, calculation of amount of cash withdrawal for triggering deduction under section 194N of the Finance Act shall be counted from April 1, 2019.

New Book Traces Railways Journey From British Era To Train 18

Short Detail

A new book called “A Short History of Indian Railways”, written by veteran journalist and author Rajendra B Aklekar on the history of Indian Railways details the journey of the national transporter starting from the 1830s(almost 15 years before the official train run of 1853) to the new high-speed Train 18 and Prime Minister(PM) Narendra Modi’s ambitious bullet train project has been introduced in Mumbai, Maharashtra.

A new book named , “A Short History of Indian Railways”, penned by Rajendra B Aklekar introduced. Source:amazon.com

India will overtake China as largest importer of coking coal by 2025; consumption to grow at 5.4% annually: Fitch

Short Detail

According to the report of Fitch Solutions Macro Research, India will overtake China as the largest importer of coking coal by 2025. It has been estimated that India’s coking coal consumption will grow at an annual average rate of 5.4% between 2019 and 2028, driven by an equally robust expansion in steel production.

ADB President Nakao calls on PM, pledges USD 12 bn support to govt''s initiatives

Short Detail

Asian Development Bank (ADB) President Mr. Takehiko Nakao met India’s Prime Minister Mr. Narendra Modi in New Delhi and committed over $12 billion in lending to India over the next 3 years (2020-22) in support of new flagship initiatives, averaging annually over $3 billion for sovereign operations and $1 billion for nonsovereign operations.

ADB President Mr. Takehiko Nakao pledges over $12 Billion to India in support of New Flagship Initiatives. Source:pmindia.gov.in

ADB’s sovereign and nonsovereign operations will focus on the government’s major initiatives, including the Jal Jeevan Mission, East Coast Economic Corridor program, promoting competitiveness of micro, small, and medium-sized enterprises (MSME) by connecting to global value chains, supporting national road safety programs; and constructing a rapid rail transit system to connect Delhi with neighboring satellite cities, starting from Delhi to Meerut. It will also expand assistance in secondary education and the universal health system.

India's horticulture crop output rises 0.7% to 313.85 million tonnes in 2018-19: Third Advanced Estimate

Short Detail

The Department of Agriculture, Cooperation and Farmers Welfare of the Ministry of Agriculture & Farmers Welfare released the 3rd Advanced Estimate (2018-19) of Area and Production of various Horticulture Crops based on the information received from different States & Union Territories (UTs) and other source agencies.

3rd Advanced Estimate (2018-19) of Area and Production of various Horticulture Crops released. Source:mygov.in

Amit Shah flags off first fleet of eco-friendly electric buses in Ahmedabad

Short Detail

In a bid to make the city cleaner & greener, the Union Minister of Home Affairs, Amit Shah has flagged off the first fleet of eco-friendly e-buses (electric buses) in Ahmedabad, Gujarat, which will be operated on major junctions in the city. He also inaugurated the India’s 1st automated battery charging & changing station for e-buses there.

HM Amit Shah flags off the first fleet of eco-friendly e- buses in Ahmedabad, Gujarat. Source:thehansindia.com

Under the Faster Adaption and Manufacture of (Hybrid) and Electric Vehicles (FAME) scheme, Gujarat will get 550 electric buses, which aims to give 5,595 electric buses to 64 cities across India.

Rajnath Singh Inaugurates Ladakhi-Kisan-Jawan-Vigyan Mela in Leh

Short Detail

26th edition of “Ladakhi-Kisan-Jawan-VigyanMela” organized by Leh-based Defence Institute of High Altitude Research (DIHAR) of Defence Research and Development Organisation (DRDO), was inaugurated by the Union Defence Minister Shri Rajnath Singh. The mela seeks to meet the fresh food requirements for soldiers serving in the harsh terrain regions.

Env Ministry to establish international standard zoo in Nagpur

Short Detail

The Union Minister for Environment, Forest and Climate Change and Information and Broadcasting, Prakash Javadekar has announced the approval for the establishment of new International Standard Zoo and Biopark on 1914 hectares in the forest land at Gorewada in Nagpur, Maharashtra.

The cost estimate is Rs. 392 Crores for this project.The Government will provide Viability Gap Funding (VGF) of Rs 200 crore for this project and the remainig by Private entities as a PPP(Public Private Project) with 51% stake with the Government and 49% with the Private firm(s).

HUA launches 'Angikaar campaign', to bring PMAY(U) beneficiaries into Ujjawala, Ayushman Bharat fold

Short Detail

According to a report by the Economist Intelligence Unit sponsored by NEC corporation’s (formerly Nippon Electric Company), World’s Safe city index(SCI) for the year 2019, Mumbai was ranked 45th safest city whereas Delhi stood at the 52nd position. The overall list was topped by Tokyo(Japan) followed by Singapore and Osaka in 2nd and 3rd spots respectively.

Mumbai ranks 45th & Delhi 52nd in 2019 world’s Safe Cities Index. Source:livemint.com

Pak. successfully carries out night-training launch of ballistic missile Ghaznavi: Army

Short Detail

Pakistan army successfully test-fired its 290km range surface to surface(SSM) name “Ghaznavi” during its night training launch.

‘Ghaznavi’ surface-to-surface ballistic missile test fired by Pakistan. Source:missilethreat.csis.org

The missile was launched from Sonmiani flight test range of Balochistan and is developed by National Development Complex (NDC) which is a missile developer for Pakistan army headquartered at Fatehjang, Punjab (Pakistan).

Digital payments growing in India at 12.7% CAGR: KPMG

Short Detail

According to the report titled “Fintech in India – Powering mobile payments” released by KPMG, a global advisory firm, Digital payments in India have grown with a compound annual growth rate (CAGR) of 12.7% in the number of non-cash transactions.

CAGR of Digital payments in India recorded at 12.7%. Source:wikipedia.org

Merchants have adopted digital payments with close to 1.5 million digital payment acceptance locations in 2016-17. It has been hiked over 10 million in a short span of 2-3 years.

HPCL declared best navratna at Dun & Bradstreet PSU awards

Short Detail

The Indian oil and natural gas company, Hindustan Petroleum Corporation Limited(HPCL) has won the award for the ‘ Best Navratna‘ in the ‘ Manufacturing Sector ‘ for the 2nd time at the 6th edition of Dun & Bradstreet PSU Awards 2019 ceremony held in New Delhi.

CAGR of Digital payments in India recorded at 12.7%. Source:wikipedia.org

Merchants have adopted digital payments with close to 1.5 million digital payment acceptance locations in 2016-17. It has been hiked over 10 million in a short span of 2-3 years.

France's NSA meets PM Narendra Modi in Delhi

Short Detail

Emmanuel Bonne, Diplomatic Adviser and G7 Sherpa to French President Emmanuel Macron, arrived in New Delhi for the biannual Indo-French Strategic Dialogue 2019. He is also the National Security Advisor (NSA) of France.

Samsung India ties up with Mastercard, RBL Bank for mobile payments

Short Detail

American multinational financial services corporation, Mastercard, Indian private sector bank, RBL Bank and Samsung India have jointly launched the Samsung Pay for RBL Bank’s Mastercard credit card customers.

Samsung India inks with Mastercard, RBL Bank for mobile payments through Samsung Pay. Source:adgully.com

Uncapped Jalaj Saxena achieves big all-round feat in domestic cricket

Short Detail

Jalaj Saxena (32), an Indian cricketer who plays as an all-rounder for Kerala has set a big record in first-class cricket during the 58th season of Duleep Trophy 2019–20 match between India Red and India Blue played at M Chinnaswamy Stadium, Bengaluru, Karnataka.

Kerala all-rounder Jalaj Saxena has become the 1st Indian cricketer to set rare record in Indian first-class cricket history. Source:cricketcountry.com

Saxena took 3 wickets for India Blue with which he completed his 300 wickets in first-class cricket. With this, he became the only cricketer to score 6044 runs in first-class cricket, as well as 305 wickets and still not have played for Team India.

Indonesia is spending $33 billion to move its capital from a sinking city to an island where forests have been burning

Short Detail

The President of Indonesia, Joko Widodo stated that the government has chosen sparsely populated East Kalimantan province on forested Borneo island, known for orangutans for its new capital. The current capital of Jakarta, overcrowded ( home to more than 10 million people), sits on watery land. Parts of the city are sinking by as much as 25cm a year and almost half now sits below sea level.