NATIONAL NEWS
Nirmala Sitharaman releases postage stamp to commemorate contribution of DRIFinance Minister Nirmala Sitharaman released a postage stamp to commemorate the distinguished service and glorious contribution by the Directorate of Revenue Intelligence (DRI) in protecting the nation.
- Sitharaman congratulated the DRI on the excellent performance of its officers and remarked that the apex intelligence agency continues to play an immense role in countering smuggling as well as in preserving the cultural heritage and environment of the country.
The government said that under Pradhan Mantri Awas Yojana (Urban) more than one crore houses have been already sanctioned out of a validated demand of 1.12 crore houses in urban areas. He said a total of 57 lakh houses are in various stages of construction of which, nearly 30 Lakh houses have been completed.
- PMAY (U) is one of the largest affordable housing programmes in the world.
Communication and IT Minister Ravi Shankar Prasad has said that free WiFi services will be provided to all villages across the country through Bharatnet till March next year.
- Inaugurating Digital Village Gurawara in Rewari in Haryana, Mr Prasad said, the Ministry has already connected one lakh 30 thousand gram panchayats through Bharatnet. He said, the target is to take this to two lakh 50 thousand gram panchayats.
- Mr Prasad also said, the target of the government is to convert at least 15 per cent of villages to the digital village in the next four years.
Vice-President M Venkaiah Naidu dedicated to the nation, the LPG bottling plant at Balangir in Odisha via video conferencing from Raipur in Chhattisgarh.
- The bottling plant has been established at an expenditure of 103 crore rupees and has capacity of manufacturing 42 lakh cylinders annually. The bottling plant will benefit residents of 14 western Odisha districts.
Haryana government will observe 2020 as "Susashan Sankalp Varsh" during which suggestions and reforms in governance would be invited from the people, Chief Minister Manohar Lal Khattar announced.
- People could offer their suggestions on a dedicated website which would be launched for the purpose. The best suggestion would be considered by the state government.
The Bhubaneswar-New Delhi-Bhubaneswar Rajdhani Express which has been transformed with the display of Odisha’s art, culture and heritage was flagged off by the Union Minister Dharmendra Pradhan. The train has been draped in high-quality designs on vinyl wrapping showcasing dance forms, archaeological monuments, traditional Pattachitra, and flora and fauna of Odisha.
National Tribal Dance Festival begins in Raipur
National Tribal Dance Festival has begun in Raipur, the capital of Chhattisgarh. Congress leader Rahul Gandhi inaugurated the festival. The inaugural function was presided over by Chief Minister Bhupesh Baghel.
- The National Tribal Dance Festival is being organized in Chhattisgarh for the first time. More than 1300 participants from 25 states & UTs of the country and six countries are participating in this three-day dance fest.
BANKING & FINANCE
Allahabad Bank, IOB, UCO to get ₹8,655 crore for preferential allotmentThe government has approved releasing ₹8,655 crore to three public sector lenders -- Allahabad Bank, Indian Overseas Bank (IOB) and UCO Bank -- for preferential allotment of shares.
- The Ministry of Finance has approved infusing fresh capital amounting to ₹2,153 crore in Allahabad Bank, ₹2,142 crore in UCO Bank and ₹4,630 crore in IOB via for preferential allotment of shares.
- Fresh capital infusion by the government is a part of the announcement made by Finance Minister Nirmala Sitharaman, in her maiden Budget on 5 July.
BUSINESS & ECONOMY
India's financial system stable despite weakening domestic growth: RBIThe Reserve Bank of India (RBI) released the Financial Stability Report, which states that the financial system of the country is stable.
- "India's financial system remains stable notwithstanding weakening domestic growth; resilience of the banking sector has improved. Risks from global or domestic economic uncertainties and geopolitical developments, however, persist," says the report.
The Reserve Bank of India has capped the permissible exposure limit of a lender on a Peer-to-Peer lending (P2P) platform for all borrowers. The aggregate exposure has been set at Rs 50 lakh at any given point of time. The step has been taken to protect the consumers interest.
- The lender investing more than Rs 10 lakh across P2P platforms has to produce a certificate to P2P platforms from a practising Chartered Accountant certifying minimum net-worth of Rs 50 lakh. The central bank also stated that the “Escrow accounts” to be operated by bank promoted trustee for transfer of funds need not be mandatorily maintained with the bank which has promoted the trustee. It also mandates that all the transactions through bank accounts, and cash transaction are strictly prohibited.
The Knight Frank Global House Price Index Q3 2019 released recently ranked India at 47th spot among 56 countries tracked in terms of appreciation in residential real estate prices with a marginal 0.6 per cent year-on-year rise in home prices.
- Hungary leads the index this quarter with 15.4 per cent annual price growth, followed by Luxembourg at 11.4 per cent and Croatia at 10.4 per cent.
SPORTS
Boxer Sumit Sangwan banned for one year for consuming prohibited substanceFormer Asian Games silver medalist boxer Sumit Sangwan has been banned for one year with immediate effect by the National Anti Doping Agency (NADA) for failing doping test.
AWARDS
AAO bestows Life Achievement honour to Dr Santosh G HonavarDr Santosh G Honavar, India’s ophthalmologist is conferred with the American Academy of Ophthalmology’s (AAO) highest award Life Achievement honour that is given to its members. He is the first Indian chosen for the honour. American Academy of Ophthalmology is the world’s largest association of eye specialists.
OBITUARIES
American songwriter Allee Willis passes awayThe American songwriter Allee Willis passed away recently. She penned the iconic “I’ll Be There For You” track for the long-running television show “Friends”. She has several other hits under her name like Earth, Wind and Fire, which was inducted into the Songwriters Hall of Fame in 2018. She won a Grammy in 1985 for her work on the soundtrack for “Beverly Hills Cop“.
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