NATIONAL NEWS
Union Cabinet approves PLI Scheme for Specialty Steel with incentives of Rs 6,322 croreUnion Cabinet has approved Production-linked Incentive (PLI) Scheme for Specialty Steel with incentives of Rs. 6,322 crore. This will be provided over a period of five years.
- This scheme will boost production of high grade specialty steel in the country. The scheme will cover coated or plated steel products, high strength or wear resistant steel, specialty rails, alloy steel products, steel wires and electrical steel.
The Union Cabinet has also approved the establishment of a Central University of Ladakh with a cost of 750 crore rupees. Central University will be established in Khaltsi in Leh.
- This would influence the over all educational institutions in the region and boost women education.
- The University will promote overall growth and development of Ladakh and will be instrumental in strengthening democratic values.
The Centre approved the establishment of an integrated multi-purpose infrastructure development corporation for the Union Territory of Ladakh.
- The establishment of the corporation will result in inclusive and integrated development of the Union Territory of Ladakh, according to an official statement. This will, in turn, ensure socio-economic development of the entire region and the population of the UT.
- The authorised share capital of the corporation will be Rs 25 crore and recurring expenditure will be around Rs 2.42 crore per year.
Agricultural and Processed Food Products Export Development Authority, APEDA is collaborating with Ladakh officials to boost unique agricultural produce which would increase farmers’ income in the region.
- APEDA would provide technical assistance for building the capacity of stakeholders including entrepreneurs, officials, farmers, branding and marketing of Ladakhi products and making Ladakh an ‘organic’ region.
- The focus of this collaboration is to ensure that Ladakh achieves the goal of becoming an organic region by 2025.
The Indian Navy and the UK’s largest warship HMS Queen Elizabeth and its strike task group carried out a mega wargame featuring a range of complex drills in the Bay of Bengal, signalling a resolve to deepen military cooperation in critical sea lanes.
- The UK’s aircraft carrier was deployed in the Indian Ocean region as part of its 40-nation tour aimed at demonstrating the country’s commitment to an open and inclusive Indo-Pacific.
INTERNATIONAL NEWS
India scores 90.32 % in UNESCAP’s latest Global Survey on Digital & Sustainable Trade FacilitationIndia has scored 90.32 per cent in United Nation’s Economic and Social Commission for Asia Pacific, UNESCAP’s latest Global Survey on Digital and Sustainable Trade Facilitation. The survey hails this as a remarkable jump from 78.49 per cent in 2019. India has achieved a 100 per cent score for the Transparency index and 66 per cent in the Women in trade component.
BANKING & FINANCE
RBI planning to launch Central Bank Digital Currency in near futureReserve bank of India is planning to launch Central Bank Digital Currency (CBDC) in the near future. Deputy Governor T Rabi Shankar said, RBI is currently working towards a phased implementation strategy and examining use cases which could be implemented with little or no disruption.
- High Level Inter-Ministerial Committee constituted by Ministry of Finance in November 2017 to examine the policy and legal framework for regulation of virtual currencies had recommended the introduction of CBDC.
U GRO Capital, a non-bank financier, and state-owned Bank of Baroda have partnered for co-lending to the micro, small and medium enterprise (MSME) sector.
- Called ‘Pratham’, loan disbursements under this association have commenced on Bank of Baroda’s 114th Foundation Day on July 20, 2021.
- Pratham is a ₹1,000 crore co-lending program that will allow the MSMEs to avail of customized lending solutions at a competitive interest rate with a significant reduction in turnaround time. The loan amount ranges from ₹50 lakh to ₹2.5 crore to be offered at an interest rate starting from 8% with a maximum tenure of 120 months.
SPORTS
IOA Ropes in Adani Group as Sponsor for Tokyo OlympicsThe Indian Olympic Association roped in the Adani Group as a sponsor for the Indian contingent at the ongoing Tokyo Games. IOA secretary general Rajiv Mehta, who is in Tokyo, announced the development.
- The IOA had earlier entered into sponsorship deals with various private entities, including diary giant Amul, mobile gaming platform MPL Sports Foundation, JSW Sports among others.
Madhya Pradesh shooter Rubina Francis has set a world record and won herself the gold in the 10-metre air pistol para women event at World shooting Para Sport Cup in Peru. Sandesh Jhingan named AIFF men’s Footballer of Year, Suresh Singh wins Emerging Player award
Senior India defender Sandesh Jhingan was named the AIFF men’s Footballer of the Year, while midfielder Suresh Singh Wangjam was picked as the Emerging Player for 2020-21 season.
- It is the first time that the towering central defender has received the AIFF Player of the Year award, having won the Emerging Player of the Year Award in 2014.
- The award winners were chosen on the basis of votes from the Indian Super League and I-League club coaches.
BOOKS
Rakeysh Omprakash Mehra announces autobiography 'The Stranger In The Mirror'Filmmaker Rakeysh Omprakash Mehra is coming up with his autobiography, The Stranger In The Mirror. He has co-written the book with noted author Reeta Ramamurthy Gupta.
- The Stranger In The Mirror features first-person accounts of noted personalities from the cinema and advertising world including Waheeda Rahman, AR Rahman, Abhishek Bachchan, Farhan Akhtar, Ronnie Screwvala, Atul Kulkarni, R Madhavan, Divya Dutta, and Prahlad Kakar.
- Rakeysh Omprakash Mehra is known for movies like 'Rang De Basanti' and 'Delhi-6'.
Duvvuri Subbarao, Former Governor, RBI on July 17th released Dr. C K Garyali’s book, ‘Bank with a Soul: Equitas’.
- Dr. C K Garyali is a founder trustee of EDIT (Equitas Development Initiative Trust) and the book chronicles the journey of Equitas and EDIT in transforming the lives of women with frequent social reform initiatives helping them setup micro-enterprises and pioneering financial inclusivity right from its inception.
Releasing the book ‘Palleku Pattabhishekam’ by former MP Shri Yalamanchili Sivaji, the Vice President said that villages and agriculture are intrinsically connected and we must address their issues holistically to bring ‘Gram Swarajya’ to our villages.
AWARDS
JNCASR among Top Institutions in Materials ScienceIn Nature Index 2021 Materials Science tables, Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) stands 23rd among Top 50 Rising Institutions, the only institution from India to appear in the list.
- It is 171 among Leading 200 institutions globally. The Centre is one among two institutions from India in this list, another being IISc, Bengaluru.
- Chinese Academy of Sciences (CAS), China topped the list.
OBITUARIES
Gira Sarabhai, co-founder of NID, passes away at 98Gira Sarabhai, co-founder of the renowned National Institute of Design (NID) in Ahmedabad passed away. The pioneer of design education in the nation has played a vital part in establishing several other institutions and also made remarkable contributions in the field of art and architecture.
IMPORTANT DAYS
National Broadcasting DayNational Broadcasting Day is observed annually in India on 23 July to commemorate the first-ever radio broadcast in the country that went on air from the Bombay Station under the Indian Broadcasting Company in 1927.
- Radio broadcasting began in India under British rule in 1922 with programs by the Bombay Presidency Radio Club. Later in 1927, the Indian Broadcasting Company (IBC) was made a private entity and granted permission to operate two radio stations.
World Brain Day is observed on 22 July every year. The day is dedicated to raising awareness and promoting advocacy related to brain health.
- The theme of this year's World Brain Day is "Stop Multiple Sclerosis", which entails raising global awareness about multiple sclerosis.
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