NATIONAL NEWS
Delhi Govt Launches 'Business Blasters' TV Show to Help School Children Pitch Start-up Ideas to InvestorsThe Delhi government launched the ‘Business Blasters’ programme, a first-of-its-kind televised event that will give students of classes 11 and 12 of schools run by it an opportunity to present their start-up ideas to investors and obtain investment capital to take them to the next level.
- The show will include students’ business ideas, shortlisted from 51,000 entries submitted by 3,00,000 students.
- Business Blasters is the world’s biggest start-up programme. With 3 lakh ideas submitted by 51,000 students and Rs 60 crore up for grabs as seed capital, this programme is an integral part of the education revolution we want to bring in Delhi and eventually in India.
The government has estimated a saving of over ₹44,000 crore in fiscal 2020-21 with the help of the Direct Benefit Transfer (DBT) mechanism.
- With this, total savings till March 31, 2021 have crossed ₹2.22 lakh crore. The saved amount is close to the total expenditure on health and wellbeing for the current fiscal or more than three times the allocation for Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).
- As on date, 310 schemes of 54 Central Government Ministries and Departments are under DBT wherein cash assistance is directly transferred to the beneficiary account or the assistance in kind is ensured for the beneficiaries using JAM (Jan Dhan, Aadhaar and Mobile) trinity.
Nagaland is celebrating its 59th Statehood day on December 1,2021.A state level programme was held at Civil Secretariat Plaza Kohima this morning. Addressing the people of the state, Chief Minister Neiphiu Rio said the Government is committed to take necessary steps for all round development and to ensure the best opportunities for growth and progress of the state.
- He also inaugurated the Photography exhibition on the Glimpses of the History of the State.
The State-level Scheme Sanctioning Committee (SLSSC) has approved drinking water supply schemes worth one thousand 816 Crore rupees for Rajasthan.
- These schemes will provide tap water connection in two thousand 348 villages spread over 20 districts of the State. It will provide tap water connections to around 4 lakh rural households.
- The SLSSC has special attention on water quality issues in 16 districts impacted with geo-genic contamination, thereby urging to make provision of tap water supply in these areas on priority.
The Ministry of Social Justice and Empowerment announced the formation of a three-member committee to review the criteria for Economically Weaker Section (EWS) reservations.
- The committee will comprise Former Finance Secretary Ajay Bhushan Pandey, Member Secretary ICSSR Prof VK Malhotra and Principal Economic Advisor to the Indian government Sanjeev Sanyal.
- The committee will examine various approaches followed in the country so far for identifying the economically weaker sections. It will also send its recommendations to the Centre in the next three weeks.
The government has approved the continuation of the Scheme for Investment Promotion (SIP) for five years (2021-26) with a financial outlay of Rs 970 crore, according to a notification of the commerce and industry ministry.
- The scheme comprises a number of components and activities for the promotion of investment into the country; enhancing international co-operation for promoting FDI and capacity building.
- To increase the investment inflow, the Department for Promotion of Industry and Internal Trade (DPIIT) has been undertaking various initiatives and reforms such as the launching of Make in India, setting up of project development cells, creating a GIS-based Industrial Information System and National Investment Clearance Cell.
INTERNATIONAL NEWS
Tel Aviv overtakes Hong Kong, Paris and Zurich as most expensive city to live inTel Aviv has been ranked the world’s most expensive city to live in thanks to the rapid rise in inflation that has pushed up the cost of a whole range of goods and services across the world in the wake of the coronavirus pandemic.
- The Israeli city climbed five spots in the past 12 months to take the unwanted title away from last year’s joint winners of Paris, Hong Kong and Zurich, according to the authoritative ranking system compiled by the Economist Intelligence Unit (EIU).
- The French capital was joint second with Singapore, while Zurich and Hong Kong made up the rest of the top five. New York was in sixth, with Geneva in seventh, and Copenhagen, Los Angeles and Osaka rounding off the Top 10.London rose three spots to 17 in the annual ranking, with Sydney up one to 14, and Melbourne up two to 16.
- The price of energy and food have rocketed in some countries thanks to restrictions on trade, labour shortages and ongoing supply chain bottlenecks. The average cost of a litre of unleaded petrol has soared by 21%, the survey found.
India and European Union (EU) have agreed to step up their Clean Energy and Climate Partnership.
- India-EU Energy Panel met which was co-chaired by India’s Ministry of External Affairs Secretary (West), Reenat Sandhu, and Deputy Director-General for Energy, European Commission Mechthild Wörsdörfer.
- They jointly agreed on a detailed work programme until 2023 to implement the 2016 India-EU Clean Energy and Climate Partnership.
- The Panel agreed on increased technical cooperation in energy efficiency, renewable energy, green hydrogen, grid integration, storage, power market design, interconnection, cold chain, and sustainable financing.
BANKING & FINANCE
DBS Bank India introduces an industry-first digital & paperless trade financing solutionDBS Bank India has introduced a paperless proposition for the financing of domestic invoices by buyers and sellers. The bank now digitally validates the e-Way Bill (i.e. proof of movement of goods) for the purpose of establishing the genuineness of underlying trade transactions.
- The adoption of this approach has enabled DBS to process transactions quicker without the need to obtain underlying physical documents.
- The bank has also executed its first paperless domestic trade financing transaction with Lincon Polymers Pvt. Ltd., marking a significant milestone in the bank’s digital transformation journey.With this solution, the bank will eliminate the need for cumbersome documentation, making the entire financing journey paperless and seamless.
IDFC FIRST Bank announced the launch of FIRST Private Infinite, the country's first-ever standalone metal debit card, in partnership with Visa, the global leader in digital payments.
- First Private Infinite is a lifetime free card designed specifically for customers who are part of the Bank's FIRST Private program, a premium savings and wealth offering.
- The FIRST Private program offers an unrivalled banking and investment experience to customers and comes with a range of exceptional investment, banking, lifestyle and wellness benefits.
India1 Payments Ltd (formerly BTI Payments Pvt Ltd) has crossed the ATM deployment milestone of 10,000 White Label ATMs.
- India1 Payments is IPO-bound and is promoted by the Banktech Group of Australia. It was formerly known as BTI Payments. India1 ATM has become the second-largest white label ATM brand on semi-urban and rural areas.
- With the deployment of 10000 ATMs, India1 Payments has become the largest player in this segment.
BUSINESS & ECONOMY
Global trade expected to rise 23% to $28T in 2021: UN reportGlobal trade is expected to reach $28 trillion in 2021, up 23% from last year, according to a report issued by the UN Conference on Trade and Development (UNCTAD).
- Global goods trade set a new record by reaching $5.6 trillion in the third quarter of this year, the Global Trade Update report said.While this was a 24% increase from the same period of 2020, it was a 13% gain compared to the third quarter of 2019.
- Trade in goods is expected to remain constant at about $5.6 trillion in the fourth quarter of 2021, while the trade in services will likely continue to slowly recover.
- Services trade stood at about $1.5 trillion in the July-September period of this year, according to the report.
Goods and Services Tax (GST) collection in November grew 25 per cent to Rs 1.31 lakh crore -- second highest since its implementation -- indicating economic recovery with normalisation of business activity and increased compliance.
- This is the fifth month in a row that the revenues from goods sold and services rendered was over Rs 1 lakh crore.
- The gross GST revenue collected in the month of November 2021 is Rs 1,31,526 crore of which CGST is Rs 23,978 crore, SGST is Rs 31,127 crore, IGST is Rs 66,815 crore (including Rs 32,165 crore collected on import of goods) and Cess is Rs 9,606 crore (including Rs 653 crore collected on import of goods).
Walmart and its subsidiary Flipkart announced they will sign a Memorandum of Understanding (MoU) with the Madhya Pradesh government to create an ecosystem of capacity building for MSMEs in the state.
- Under the partnership with Department of Micro, Small and Medium Enterprises (MSME) of the MP government, Walmart and Flipkart will help MSMEs digitize their businesses and enable them to sell products across India through online retail.
- They will also have an opportunity to unlock their export potential and become part of Walmart's global supply chain.
SPORTS
Rajshree Sancheti claims women's 10-metre air rifle national title at Madhya Pradesh State Shooting Academy rangeIn Shooting, Rajshree Sancheti claimed the women's 10-metre air rifle national title at the Madhya Pradesh State Shooting Academy range in Bhopal.
- Rajshree finished the eight-woman final with a score of 251.8, more than 1.6 ahead of the silver winning Zeena Khitta of Himachal Pradesh. Shreya Agrawal won bronze ending with 227.7, to bow out after the 22nd shot of the 24-shot final.
- The junior women's 10m air rifle crown was won by Tamil Nadu's R. Narmada Nithin, who shot a National finals record score of 252.1 to strike gold. Zeena finished second yet again, while Pahuni Pawar of Karnataka won the bronze.
APPOINTMENTS
Lt Gen Manoj Kumar Mago takes over as NDC CommandantLt Gen Manoj Kumar Mago has taken over as the Commandant of National Defence College (NDC), New Delhi.
- He hails from Ludhiana, was commanding the 10 Corps at Bathinda before being given the assignment at NDC that entails evolving a strategic culture among the country’s senior-most officials of the military, the civilian bureaucracy and the Indian Police Service.
- Lt Gen Mago, who passed out of Indian Military Academy, Dehradun, was commissioned into the 7th Battalion of the Brigade of Guards in 1984. He later commanded 16 Guards.
Bollywood star Sanjay Dutt has been roped in by the Arunachal Pradesh government to be the brand ambassador for the state.
- Along with Sanjay, filmmaker Rahul Mittra has been roped in as the brand advisor on the occasion of the golden jubilee celebrations, marking the 50th year of the naming of the state.
AWARDS
IGI Airport adjudged the ‘Best Airport in India and Central Asia’ this year by Skytrax: MoS Gen VK SinghThe Centre has said the Indira Gandhi International Airport in Delhi has been adjudged the ‘Best Airport in India and Central Asia’ this year by Skytrax.
- In a written reply in the Lok Sabha, Minister of State for Civil Aviation Gen VK Singh said the Delhi airport along with the others in Hyderabad, Mumbai, and Bengaluru feature in the World To 100 airports list published by Skytrax.
- He said 36-thousand crore rupees worth investments are being planned to develop new greenfield airports across the country under the Public-Private Partnership mode.
Barbados has declared Rihanna a national hero after removing Britain’s Queen Elizabeth II as its head of state and entering a new era as a republic.
- Prime Minister Mia Mottley announced that the 33-year-old Barbadian musician and entrepreneur would be conferred with the honour of National Hero of Barbados to cheers during a ceremony held overnight in the capital, Bridgetown, to mark the political transition.
With a commitment to enhance regional connectivity throughout the country, Star Air has had an incredible and exciting journey during the winter schedule of October 2020. It has been voted as the airline with the highest average passenger load factor on RCS flights by the Ministry of Civil Aviation.
- As passionate advocates for hassle-free, affordable, on-time services, Star Air promises its passengers utmost care. Making Star Air all about fulfilling everyone's travel aspirations, the airline constantly seeks Connecting Real India and making travel accessible and affordable.
BOOKS & AUTHORS
Dinyar Patel’s biography of Dadabhai Naoroji wins KamaladeviChattopadhyay NIF Book Prize 2021 A biography of Dadabhai Naoroji, one of the founders of the Indian National Congress, by Dinyar Patel was named winner of the Kamaladevi Chattopadhyay NIF Book Prize 2021.
- "Naoroji: Pioneer of Indian Nationalism" was selected from the six shortlisted books that covered a variety of themes and subjects and showcased some of the finest non-fiction writing about India, organisers New India Foundation said.
- This is the fourth edition of the prize instituted in 2018. The prize celebrates high-quality non-fiction literature on modern and contemporary India from writers of all nationalities published in the previous calendar year and carries a cash award of Rs 15 lakh and a citation.
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