Sep 16, 2023
- Highlights of President Droupadi Murmu's Visit to Gujarat from September 12-13, 2023 Droupadi Murmu, President of India, was on a two-day visit to Gujarat from September 12 to 13, 2023. During her visit, she inaugurated the Gujarat Assembly's 'National e-Vidhan Application' (NeVA) project and addressed the members of the Gujarat Legislative Assembly at Gandhinagar. She also virtually launched the Ayushman Bhav initiative of the Ministry of Health and Family Welfare (MoH&FW) from the Raj Bhavan, Gandhinagar, Gujarat.
- Highlights of Saudi Arabia's PM HRH Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud visit to India From September 9-11, 2023, the His Royal Highness (HRH) Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister (PM) of the Kingdom of Saudi Arabia, paid a State visit to India on the invitation of Prime Minister (PM) of India Narendra Modi. This marks the Prince's 2nd State visit to India, His Royal Highness earlier visited India on a State Visit in February 2019. The overarching context of his visit was to strengthen bilateral relations and strategic partnership between India and Saudi Arabia. Official talks were held between HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, and PM Narendra Modi to enhance India-Saudi strategic relations and discussed current global and regional matters.
- Union Minister Dharmendra Pradhan launched Skill India Digital Platform Union Minister Dharmendra Pradhan, Ministry Skill Development and Entrepreneurship(MSDE) has launched the Skill India Digital (SID) platform. SID is India's Digital Public Infrastructure (DPI) for skilling, education, employment, and entrepreneurship. The digital platform includes both a website and a mobile Application that was developed by the National Skill Development Corporation(NSDC). It is available in multiple Indian languages.
- MCA Extends Tenure of Company Law Committee by 1 Year The Ministry of Corporate Affairs(MCA) has extended the tenure of the Company Law Committee by 1 year, until September 16, 2024. Company Law Committee: The Company Law Committee was set up in 2019 with a tenure of one year(2020), and its tenure was successively extended year after year. The committee has been tasked with examining and recommending the government on different matters concerning the implementation of the Companies Act, 2013, and the Limited Liability Partnership (LLP)Act, 2008.
- MHA Cancels FCRA Licence of Bal Raksha Bharat & 2 other NGOs Ministry of Home Affairs(MHA) has cancelled the Foreign Contribution Regulation Act (FCRA) licence of Bal Raksha Bharat, Srinivas Malliah Memorial Theatre Crafts Museum and SELF EMPLOYED WOMEN'S ASSOCIATION (SEWA). The licences were cancelled ahead of the deadline (30th September 2023) for FCRA licences renewable for Non-Governmental Organisations(NG0s). Bal Raksha Bharat is the India unit of the United Kingdom(UK) Based NGO "Save The Children" which operates in around 16 states across India. The audited report of the NGO revealed that it has received Rs 163 crore in its bank accounts and Rs 66.66 lakh worth of in-kind contributions for year 2021-2022.
- India Becomes 13th Country to Issue OIML Certificate India has been recognised as an authority to issue internationally accepted OIML(International Organization of Legal Metrology) pattern approval certificates for selling weights & measures anywhere in the world. With this India becomes the 13th country in the world that can issue OIML certificates. Department of Consumer Affairs under the Ministry of Consumer Affairs will now issue the OIML certificates. OIML Pattern Approval certificate is mandatory to sell a weight or measure in the International market. Other countries that can issue OIML Certificates are Australia, Switzerland, China, Czech Republic, Germany, Denmark, France, United Kingdom(UK), Japan, Netherlands, Sweden and Slovakia.
BANKING & FINANCE (NEWS):
- Yes Bank Partners with Juspay to Launch HyperUPI, NPCI's UPI-based Plug-in Service Yes Bank partnered with Juspay, India's leading payments company, to launch HyperUPI, a plug-in Software Development Toolkit (SDK) developed by the National Payments Corporation of India (NPCI) that empowers in-app Unified Payments Interface (UPI) payments for merchant apps. With this, the merchants can now offer customers a hassle-free one-click UPI experience. This will also allow customers to undertake UPI-based transactions within the merchant app. This plug-in (SDK) is built on one of the most reliable UPI-on-cloud stacks in India, which also supports UPI payments for several consumer and merchant apps.
- NPCI Launches India's First Contactless Payment Wearable "OTG Ring" National Payment Corporation of India(NPCI) has launched a RuPay ON-THE-GO(OTG)ring named as 7 Ring, the first contactiess payment wearable ring which was made in India. The ring was unveiled in Global Fintech Fest, 2023 (GFF 2023) which was held during 5th to 7th September 2023 in Mumbai, Maharashtra. 7 Ring is designed, assembled, manufactured and patented in India. The ring was made in collaboration with 7 (Sevenring Innovations Private Limited) and LivQuik Technology(India) Private Limited.
- IndusInd Bank launched 'Virtual Commercial Credit Card' in Collaboration with Visa and Juspay IndusInd Bank in partnership with Visa and Juspay launched a "virtual commercial card" with additional layers of security to give the cardholders a complete control over cross-border transactions for corporates and travel agents. The card is built on the Visa Payables Automation platform. The card benefits the customers who make multiple bookings in different foreign-denominated currencies. The card offers a high degree of control, reduced complexity and complete transparency.
ECONOMY & BUSINESS (NEWS):
- Fitch Retains India's Growth Forecast at 6.3% for FY24: Global Economic Outlook Sept 2023 Fitch Ratings in its special report titled Global Economic Outlook — September 2023 retained India's Gross Domestic Product(GDP)'s growth forecast for the current fiscal year(FY 2023-24) at 6.3% and projected growth rate of 6.5% for FY 2024-2025. Earlier in June 2023, the rating agency had revised its forecast to 6.3% from the 6%. Inspite of tight monetary policy and poor export, the economy is striving to grow. Quarterly analysis: The Indian economy grew at 7.8% in the first quarter(Q1 — April to June) in FY 2023-24.
APPOINTMENTS & RESIGNATIONS (NEWS):
- Mastercard India Appoints Former SBI Chief Rajnish Kumar as Non-Executive Chairman Rajnish Kumar, former chairman of the State Bank of India(SBI) has been appointed as the Non-Executive Chairman of Mastercard India. Rajnish Kumar will guide Mastercard's South Asia executive leadership team, led by Gautam Aggarwal, Division President for South Asia and Country Corporate Officer, India. He is currently serving as the chairman of payments startup BharatPe.
IMPORTANT DAYS (NEWS):
- International Day of Democracy 2023-September 15 The United Nations (UN) International Day of Democracy is annually observed across the globe on 15th September to highlight the significance of democracy and to create awareness among the people about democratic rights. The day also offers a platform to review the the state of democracy in the world. The theme of International Day of Democracy 2023 observed on 15th September 2023 is "Empowering the next generation." The 2023 theme focus on the