SLINEX 2019: 2 Sri Lankan naval ships arrive in Visakhapatnam

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9th edition of weeklong joint maritime naval exercise between India and Srilanka(SL) named SLINEX for the year 2019 has commenced in the port of Visakhapatnam in Andhra Pradesh. Two Sri Lanka Navy Ships(SLNS) namely Sindurala and Suranimala that are offshore patrol vehicles left the Trincomalee port of Srilanka to participate in the exercise.

9th SLINEX 2019- Indo-Lanka maritime fleet exercise commenced in Vizag. Source:wikipedia.org

India, South Korea ink pact to provide logistical support to each other's navies

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Defence Minister Rajnath Singh held talks with his South Korean counterpart Jeong Kyeong-doo to boost bilateral defence ties, particularly on enhancing cooperation between defence firms of the two countries and extending logistical support to each other's navies.

Defence Minister Rajnath Singh with his South Korean counterpart Jeong Kyeong-Doo in Seoul. Source:indiatoday.in

Anupama Swain wins bronze in World Martial Arts Mastership

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Odisha’s woman athlete Anupama Swain clinched a bronze medal (52kg) in World Martial Arts Mastership Jiu-Jitsu 2019 which was held at the Konkuk University Glocal Campus in Chungju, South Korea. With this, she qualified for the 2022 Asian Games. She was trained by Hariprasad Patnayak.

Anupama Swain clinched bronze in World Martial Arts Mastership Jiu-Jitsu 2019.Source:femina.wwmindia.com

President of India graces Swachh Mahotsav 2019

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The President of India, Shri Ram Nath Kovind has addressed the special function ‘Swachh Mahotsav 2019’, organized by the Union Ministry of Jal Shakti held in Vigyan Bhavan, New Delhi.

Govt clears over Rs 5000 crore Akash missile project

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Indian Air Force (IAF), the central government has approved the procurement of 6 squadrons of indigenous Akash Air Defense missile for the Air Force at a cost of Rs 5,000 crore. They will be deployed along the borders with Pakistan and China.

Centre clears over Rs 5,000 crore worth Akash missile project for Air Force.Source:patrika.com

With this approval, the number of Akash missile systems approved for the Air Force will be increased to 15. The air force had initially ordered only 2 Akash systems.

Travel and Tourism Competitiveness index: India ranked 34th; check top 10

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According to the recent Travel & Tourism Competitiveness Index (TTCI) for the year 2019 released by the World Economic Forum(WEF) on September 4, 2019, India was ranked at the 34th spot, an improvement by 6 places from the 2017 report (40th rank). The index was topped by Spain followed by France and Germany in the second and third places respectively.

India ranks 34th in 2019 world travel & tourism competitiveness index, Spain tops. Source:wikipedia.org

Edelweiss joins SBI for Co-Origination of loans to MSMEs

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According to the recent Travel & Tourism Competitiveness Index (TTCI) for the year 2019 released by the World Economic Forum(WEF) on September 4, 2019, India was ranked at the 34th spot, an improvement by 6 places from the 2017 report (40th rank). The index was topped by Spain followed by France and Germany in the second and third places respectively.

ECL Finance Ltd and State Bank of India entered into an agreement to co-lend to MSMEs. Source:financialexpress.com

FDI grows 28% to $16.33 bn in Q1 FY20; Singapore largest source: Govt data

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Foreign Direct Investment (FDI) into India grew by 28% to $16.33 billion in the first quarter (Q1)- April-June 2019-20. FDI inflows in April-June of 2018-19 was $12.75 billion.

Services Sector ($2.8 billion), computer software and hardware ($2.24 billion), telecommunications ($4.22 billion), and trading ($1.13 billion) received the maximum foreign inflows during April-June 2019-20.

Singapore emerged as the largest source of FDI in India during April-June 2019-20 with $5.33 billion investment, followed by Mauritius ($4.67 billion), the United States ($1.45 billion), the Netherlands ($1.35 billion), and Japan ($472 million).

India among top 10 nations in gold reserves

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The World Gold Council (WGC) released the 2019 list of gold reserves in each country. The list was topped by United States(US) with gold reserves of 8,133.5 tonnes followed by Germany (3,366.8 tonnes) at second place. India entered the top 10 list this year ranking at 10th spot surpassing Netherlands (612.5 tonnes) whereas it is ranked at 9th position in terms of individual countries with 618.2 tonnes, as the International Monetary Fund(IMF) ranks third (2,451.8 tonnes) in the gold reserve list.

India ranks 9th among the top 10 individual nations in gold reserves with US ranking 1st in the list. Source:azureedge.net

Home, auto loans to get cheaper from 1 October

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Reserve Bank of India(RBI) has asked banks to link all new types of floating-rate loans (home, auto loans & and micro, small and medium enterprises (MSME)) to external benchmark like repo rate from October 1, 2019.

Loans will be cheaper from October 1, 2019 as RBI makes repo-linked interest rates mandatory. Source:dnaindia.com

MCX, Zhengzhou Exchange sign MoU for exchange of information

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A Memorandum of Understanding (MoU) was signed between Multi Commodity Exchange of India (MCX) and Zhengzhou Commodity Exchange (ZCE), a commodity exchanges in China, for co-operation and the exchange of information. It will help in cooperation between the two exchanges in areas like knowledge sharing, education & training, organizing events and exploration of the areas of mutual interests between the exchanges.

MoU signed between MCX & ZCE for co-operation and the exchange of information. Source:forevernews.in

Crisil cuts FY20 growth forecast to 6.3%, expects ‘mild’ pick-up in Q2

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Indian credit rating agency CRISIL (formerly Credit Rating Information Services of India Limited) has reduced the India’s GDP (Gross Domestic Product) growth to 6.3% for FY20 (Fiscal Year 2020) from its previous estimate of 6.9%.

Ambassadors and the crème de la crème of Delhi’s social circle attend the second edition of Namaste Pacific

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Cultural event ‘Namaste Pacific’ was organised in Delhi jointly by the high commissions of Australia, New Zealand, Papua New Guinea, and Fiji to showcase pacific region cultures in India.

Cultural event ‘Namaste pacific’ organised in Delhi. Source:onenewspage.com

Para-athlete Deepa Malik (Shot Put player) and future Secretary (East) of Ministry of External Affairs (MEA) from October 1, 2019 Vijay Thakur Singh were the guest of honours at the event.

Two Indian navy ships make port call at Laem Chabang

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Two Indian Navy Warships- INS Sahyadri and Kiltan visited Laem Chabang, Bangkok,Thailand for a port call which is scheduled till September 3, 2019, as a part of the Navy’s Overseas Deployment to South East Asia and Western Pacific. Both ships represent the ‘coming of age’ of India’s warship building capabilities.

INS Sahyadri and Kiltan visit Laem Chabang, Bangkok, Thailand for port call. Source:onenewspage.com

1st ASEAN-U.S. Maritime Exercise underway in Thailand

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On September 2, 2019, The United States (US) and 10 Association of Southeast Asian Nations (ASEAN) countries began their first Asean-US Maritime Exercise (AUMX) at the Sattahip Naval Base in Thailand. The 5-day maritime drill will end in Singapore. It is a part of a joint exercise extending into the flashpoint South China Sea. AUMX was proposed at the ASEAN Defence Ministers Meeting Plus (ADMM-Plus) in 2017. It was confirmed in the 12th ADMM in October 2018.

INS Sahyadri and Kiltan visit Laem Chabang, Bangkok, Thailand for port call. Source:channelnewsasia.com

Cabinet approves Rs 9300 cr capital infusion in IDBI Bank

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Information and Broadcasting(I&B) Minister Prakash Javadekar stated that the central Cabinet meeting chaired by Prime Minister Narendra Modi, Government of India(GoI) has approved a capital infusion of Rs 9,300 crore in IDBI Bank(Industrial Development Bank of India). The objective behind the government’s move is to increase the bank’s capital base.

Cabinet approves Rs 9,300 crore package capital infusion for IDBI Bank. Source:moneycontrol.com

Out of Rs 9,300 crore, the government (49%) will give Rs 4,557 crore, while Rs 4,743 crore will be given by LIC- Life Insurance Corporation (51%).

AASI Launches Asia's Only 5th Generation - VR Based Simulator Centre at Chennai

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Rtn G Chandramohan, Rotary Governor, Rotary International District 3232 launched Asia’s first 5th Generation – Virtual Reality (VR) based Advanced Driver Training Simulator Centre at the Automobile Association of Southern India Centre (AASI), Chennai, in the presence of T D Sadasivam, Chairman and other Executive Committee members of AASI. It is aimed to reduce on-road fatalities and make Indian roads safer.

Asia’s only 5th Generation VR based Advanced Driver Training Simulator Centre launched at Chennai. Source:aninews.in

Under ‘Safe Drivers Campaign’, AASI will train 200 Ambulance drivers free of cost in the initial 6 months.The patented simulator was ideated, designed and developed by Chennai based Red Chariots Technologies Pvt Ltd.

Ashok Leyland meets BS-VI emission norms for all its heavy-duty vehicles

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Ashok Leyland, Indian automobile major headquartered in Chennai, Tamil Nadu has become the 1st Indian original equipment manufacturer (OEM) to meet the Bharat Stage (BS ) VI emission standards for all its heavy-duty trucks with a gross vehicle weight of 16.2 tonnes and above.

Ashok Leyland becomes the first OEM to meet BS-VI emission norms. Source:thehansindia.com

N Saravanan, Chief Technology Officer of Ashok Leyland got the certificates for compliance to BS-VI emission standard from the Automotive Research Association of India (ARAI), an autonomous body affiliated to the Ministry of Heavy Industries and Public Enterprises.

Central Government to invest Rs 25,000 crore in 5 years to revamp fishery infrastructure

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Union government has plans to invest Rs. 25,000 crore in different sectors of fisheries in the next 5 years. It will help in the accomplishment of the goals of the ambitious Blue Revolution (Fisheries) project.

Rs 125 crore allotted to IIT-Kharagpur for Centre's SATHI initiative

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Indian Institute of Technology (IIT) Delhi and IIT Kharagpur have been selected by the Department of Science and Technology (DST) to establish a shared science and technology infrastructure facility named Sophisticated Analytical and Technical Help Institute (SATHI).

KVIC launches ‘Terracotta Grinder’ at Varanasi to re-use wasted pottery

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Khadi and Village Industries Commission (KVIC) based at Mumbai, has launched ‘Terracotta grinder’ at Sewapuri, Varanasi, Uttar Pradesh. It is manufactured under KVIC’s project REPLAN (REducingPLAstic in Nature) and grinds waste and broken pottery items for reuse in pottery making. It is designed by KVIC chairman Shri Vinai Kumar Saxena and Fabricated by Rajkot(Gujarat) based engineering unit.

IRDAI sets up panel to revisit 3 year old trade credit insurance guidelines

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The insurance regulator IRDAI (Insurance Regulatory and Development Authority of India) has set up a 9-member panel headed by New India Assurance Company Ltd (NIACL) Chief Managing Director(CMD) Atul Sahai, in order to review its three-year old guidelines (set up in 2016) on trade credit insurance due to the changing market requirements.

Panel set by IRDAI to revisit 3-yr old trade credit insurance guidelines. Source:moneycontrol.com

Panel’s role: The panel which has to submit its report within 3 months, would study the scope of changes and suggest suitable amendments to be added or changed to the guidelines based on Terms of Reference(ToR) after complete examination on the current guidelines.

Trade credit Insurance:It is a risk management product, given to business entities by private as well as governmental export credit agencies to protect them from loss due to credit risks. The policy provides coverage against delay in payment or non-payments of credit also.

ToR:It means the purpose and structures of a project, committee, meeting, negotiation, or any similar collection of people who have agreed to work together to accomplish a shared goal.

ESIC ties up with SBI for DBT facility

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Employees’ State Insurance Corporation (ESIC) has signed a memorandum of understanding (MoU) with the State Bank of India (SBI) for the Direct Benefit Transfer (DBT) facility to all the insured beneficiaries of ESIC.

ESIC entered into an agreement with SBI for direct benefit transfer facility for all ESIC beneficiaries. Source:news18.com

As per the agreement, SBI will provide e-payment services to all the beneficiaries of ESIC directly in their bank account. It will be integrated with the enterprise resource planning (ERP) processes of ESIC through its cash management product (CMP) e-payment technology platform & automated process without any human intervention.

SBI will provide real-time benefits to the beneficiaries of ESIC as well as other payment recipients by e-payment. It will save time, reduce payment delays, and it will also help to eliminate errors caused by repetitive and manual data entries.

Uttar Pradesh Launches "C-Plan" App To Aid Community Policing

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Uttar Pradesh(UP) police have launched a new app name “C-app” in its new police headquarters at Lucknow, UP to aid community policing throughout the state whereby the police would be involved in tracking anti-social elements in time. This app helps at being informed about communal tensions and also in verifying the received information.

Standard Chartered Bank launches DigiSmart Credit Card; Get instant discounts at Myntra, Grofers, Yatra, Zomato, Ola

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The Standard Chartered Bank, a British multinational banking and financial services company has launched its “DigiSmart” credit card primarily focused on the ever-growing segment of millennials.

Standard Chartered Bank launches new “DigiSmart” credit card. Source:cardinfo.in

The new credit card is available for a nominal monthly fee of only Rs 49. However, this fee will be waived off if the spends of the customer are Rs 5,000 or above in the previous month.

OSDMA bags IT excellence awards in disaster management

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Odisha State Disaster Management Authority (OSDMA) has won the 2019 “IT Excellence Award” by Express India, for designing the app SATARK. The award for the app, which tracks and alerts during disasters based on dynamic risk knowledge in real time, is to be received on September 18, 2019 by OSDMA director B P Sethi, at Bombay Exhibition Centre, Mumbai. SATARK is an acronym for System for Assessing, Tracking and Alerting Disaster Risk Information based on Dynamic Risk Knowledge.

CGHS Services To Be Made Available In 100 Cities By 2022: Union Health Minister

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Union Minister of Health and Family Welfare Dr Harsh Vardhan inaugurated the state-of-the-art Central Government Health Scheme (CGHS) Bhawan in Sector 13 of R K Puram in New Delhi.

CGHS Bhawan inaugurated in Sector 13 of R K Puram in New Delhi. Source:healthnewsreporting.com

Dr Harsh Vardhan addresses ‘72nd Session of the WHO Regional Committee for South-East Asia’

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Union Minister of Health and Family Welfare(MoHFW) Dr. Harsh Vardhan inaugurated the ‘72nd Session of the WHO Regional Committee for South-East Asia’ in New Delhi and was also unanimously elected as the chair of the 72nd Session of the WHO(World Health Organisation) Regional Committee for South-East Asia.

Speakers Summit: India knocked out in Maldives

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Two day 4th South Asian Speakers’ summit on achieving the Sustainable Development Goals (SDG) was held in Malé, Maldives from September 1-2, jointly organised by the Inter-Parliamentary Union (IPU) and the People’s Majlis(single legislative body of the Maldives). The summit was attended by Secretary-General of the IPU, Martin Chungong and senior lawmakers from Afghanistan, Bangladesh, Bhutan, India, Myanmar, Nepal, Pakistan, Sri Lanka, and Maldives.

4th South Asian Speakers’ Summit organised in Maldives. Source:maldivesindependent.com

Iran unveils Kian reconnaissance and attack drone

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Iranian Army has unveiled a high-precision jet-propelled drone called “Kian”, which has the capacity of carrying long-time surveillance missions and attack the targets far from the country’s borders.

Iranian army introduces a new homegrown jet-propelled drone called “Kian”. Source:thedefensepost.com

Earlier in August 2019, It has unveiled its new home-grown air defense system called “Bavar-373”.

Vice President inaugurates India’s longest electrified rail tunnel in Andhra Pradesh

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Vice President of India, Shri Venkaiah Naidu inaugurated the longest electrified railway tunnel (6.7km) between Cherlopalli and Rapuru costing Rs 437 crores, and the electrified railway line (112km) between Venkatachalam (Krishnapatnam) and Obulavaripalli costing Rs 1,993 crores in Andhra Pradesh.

India’s longest electrified rail tunnel in Andhra Pradesh inaugurated by Vice president. Source:drishtiias.com

Remodelled yard of Guduru railway station and new intercity superfast express between Guduru and Vijayawada were also inaugurated.

CBFC unveils new logo and certificate design, Vidya Balan and Madhur Bhandarkar attend event

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The Union Minister for Information & Broadcasting (I&B) and Environment, Forest & Climate Change, Shri Prakash Javadekar has unveiled the new logo and certificate design of Central Board of Film Certification (CBFC) at an event in Mumbai, Maharashtra.

Prakash Javadekar launched the new logo and certificate design of Central Board of Film Certification (CBFC). Source:wikipedia.org

The design of the new logo has been designed by designer Rohit Devgan in collaboration with the technical support team of National Securities Depository Limited (NSDL).

The new certificate will have QR (Quick Response ) code, from which many types of information can be obtained. The certificate that was issued earlier, many information was given in it and it appeared to be full. However, now it has been changed and the information is less than before.

Edelweiss Group, Central Bank of India join hands to co-lend to MSMEs

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A leading Non-Banking Finance Company (NBFC) & a subsidiary of Edelweiss Financial Services, ECL Finance Limited and Central Bank of India (CBI) have entered into an agreement for priority sector lending to Micro, Small and Medium Enterprises (MSME).

Bangladesh signs deal with Reliance Power to buy electricity for 22 years

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Bangladesh has signed a power project agreement to buy 718 megawatts(MW) of electricity from India’s Anil Ambani led Reliance Power over the next 22 years. For which the company plans to invest about $1 billion to set up a local plant at Meghnaghat in Narayanganj, over 20 km southeast of the capital Dhaka, Bangladesh by 2022. It will be a combined cycle power plant, which will be set up in collaboration with Japanese energy major JERA. Reliance Power will hold 51 per cent stake in the joint venture (JV) company while JERA will hold 49 per cent stake.

Reliance Power will give electricity to Bangladesh for next 22 years. Source:wikipedia.org

India to join developed nations in ocean studies with 'Samudrayaan' project

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India’s deep-sea project “Samudrayaan” undertaken by National Institute of Ocean Technology, Chennai (NIOT) is proposed to be launched in 2021-22. The proposed project announced by NIOT Director MA Atmanand, is a part of Ministry of Earth Sciences’ pilot project, and plans to send three persons to depth in a submersible vehicle of 6000mtrs for underwater studies related to deep-sea mining of rare minerals.

‘Samudrayaan’- deep ocean mining project to be undertaken by India. Source:indiatimes.in