Reliance Industries Limited(RIL) announced the sale of 1.34% stake in its digital services subsidiary, Jio Platforms to global Private Equity (PE) firm General Atlantic for Rs 6,598.38 crores, to accelerate consumer business and cut debt. After this investment Jio Platforms will have an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion.
General Atlantic’s investment will translate into a 1.34% equity stake in Jio Platforms on a totally diluted basis. The transaction is subject to regulatory and other customary approvals. This deal is that the 4th one in but four weeks(within a month) with this investment RIL has raised Rs 67,194.75 crores by selling 14.8% in Jio. Strategic and financial investors are to make 20% of Jio Platforms.
Canara Bank has launched a special business vertical dedicated for gold loans to satisfy the financial needs of its customers as they’re in need of immediate credit support to satisfy their emergency needs thanks to the COVID-19 pandemic
The bank has launched a gold loan campaign till 30th June, 2020 with an rate of interest as low as 7.85% once a year minimum turnaround (TAT) and high-flexibility to satisfy credit must help the purchasers with much needed liquidity to revive their business activities and to bring back normalcy to their lives.
The Genoa-based Italian Institute of Technology (IIT) has developed “i-Feel you”, an intelligent bracelet which can help users respect social distancing rules. The technology was launched at a video conference which involved the participation of Liguria governor Giovanni Toti and IIT President Giorgia Metta.
The bracelet has been developed because the measures for safeguarding people against the Coronavirus pandemic. The bracelet can measure social distance during a far more precise manner than a mobile application (app) and it doesn’t track geolocation hence has little effect on privacy.
Benjamin Netanyahu has been sworn because the Israel Prime Minister (PM) for the 5th time after signing of power-sharing affect rival-turned-partner Benny Gantz of Blue and White Party. He will now chair the post until 13 November 2021.
In a bid to tribute migrant workers, India post, Mumbai has released a Special Postal Cover dedicated to migrant workers at the Bicentennial Hall of the historic ,Mumbai, Maharashtra.The five migrant workers from different sectors like two from construction sector, a taxi driver, a jewellery craftsman and a tailor were called to release the postal cover. India post, Department of Posts (DoP), which comes under the Ministry of Communications, headquartered in New Delhi .
Preventing the spread of Covid-19 through currency notes, Gujarat govt has mandated digital payment for all home delivery services within the worst-hit city of Ahmedabad and also issued protocol to be followed by the delivery persons.
Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman detailed the one-fourth of the Special economic and comprehensive package of Rs 20 lakh crores to support Indian economy within the fight against COVID-19 during her 4th news conference in New Delhi .
The Part 4 of “Atmanirbhar Bharat Abhiyaan” (self-reliant India Movement) is consisted of structural reforms within the eight sectors of Coal, Minerals, Defence production, Civil Aviation, Power Sector, Social Infrastructure, Space and nuclear energy .The aim is to spice up economic process , and make jobs.
The government will invest Rs 50,000 crore for building evacuation infrastructure to reinforce Coal India Limited’s (CIL) target of 1 billion tons coal production by 2023-24 plus coal production from private blocks. this may include Rs 18,000 crore worth of investment in mechanised transfer of coal (conveyor belts) from mines to railway sidings. This measure also will help reduce environmental impact.
Mineral Sector: Centre will introduce seamless composite exploration-cum-mining-cum-production regime. during this regard, 500 mining blocks would be offered through an open and transparent auction process.
A joint auction of Bauxite & Coal mineral blocks are going to be introduced. Ministry of Mines is within the process of developing a Mineral Index for various minerals. there’ll even be rationalisation of stamp tax payable at the time of award of mining leases.
Defence Sector: Centre will notify an inventory of weapons/platforms for ban on import with year wise timelines for enhancing defence production in India, as a neighbourhood of Make in India initiative. there’ll be indigenisation of imported spares, and separate budget provisioning for domestic capital procurement. this may help reduce huge Defence import bill.
Foreign Direct Investment limit in defence manufacturing under automatic route is being raised from 49% to 74%. Corporatisation of Ordnance factory board (OFB) was also announced. to make sure time-bound defence procurement, centre will found out a Project Management Unit (PMU) to support contract management.
Civil Aviation Sector: Restrictions on utilisation of the Indian Air Space are going to be eased in order that civilian flying becomes more efficient. this may bring a complete advantage of about Rs 1,000 crore per annum for the aviation sector. In future, India will become a worldwide hub for Aircraft Maintenance, Repair and Overhaul (MRO). Therefore, aircraft component repairs and airframe maintenance to extend from Rs 800 crore to Rs 2,000 crore in three years.
Power Sector: Power Distribution Companies (PDCs) in Union Territories (UTs) to be privatised in line with the new tariff policies. this may enable to strengthen industries and convey in efficiency within the entire power sector.
Boosting Private Sector investment with Rs. 8,100 crore: the govt will enhance the quantum of Viability Gap Funding (VGF) upto 30% each of Total Project Cost as VGF by the Centre and State/Statutory Bodies. For other sectors, VGF existing support of 20 which each from Government of India and States/Statutory Bodies shall continue. Total outlay is Rs. 8,100 crore. Projects shall be proposed by Central Ministries/ State Government/ Statutory entities.
Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman detailed the fifth and final a part of the Special economic and comprehensive package of Rs 20 lakh crores to support Indian economy within the fight against COVID-19 during her 5th news conference in New Delhi .
The Part 5 of “Atmanirbhar Bharat Abhiyaan” (self-reliant India Movement) is concentrated on seven areas viz. MNREGA, Health and Education, Business during Covid, Decriminalisation of Company Act, simple doing business, Policy associated with Public Sector Units, government and resources associated with it.
MGNREGA: Under the MGNREGA scheme, a further Rs 40,000 crore are going to be allocated for employment generation within the rural parts of the country. this may help to get nearly 300 crore person days to supply relief to the migrant workers.
Health Reforms & Initiatives: Government will increase investment publicly health, by fixing communicable disease Hospital Blocks in every district and Public health labs in every block (not just in district) to bridge inadequacy of lab network in rural areas. Research are going to be encouraged through National Institutional Platform for One health by ICMR (Indian Council of Medical Research). The blueprint of National Digital Health Mission are going to be implemented.
A programe named “PM eVIDYA” is to be launched immediately. it’s a multi-mode access to online education consisting of:
DIKSHA for college education in states/UTs: e-content and QR coded.Energized Textbooks for all grades (one nation, one digital platform). One earmarked channel per class from 1 to 12 (one class, one channel.
Manodarpan: it’s an initiative for psychosocial support of scholars , teachers and families for psychological state and emotional wellbeing to be launched immediately.
New National Curriculum and Pedagogical framework: for college , infancy and teachers are going to be launched: integrated with global and 21st century skill requirements.
National Foundational Literacy and Numeracy Mission: for ensuring that each child attains Learning levels and outcomes in grade 5 by 2025 are going to be launched by December 2020.
Ease of Doing Business: Minimum threshold to initiate insolvency proceedings raised to Rs. 1 crore from Rs. 1 lakh along side creation of special insolvency resolution framework for Micro, Small & Medium Enterprises (MSMEs) under Section 240A of the Insolvency and Bankruptcy Code, 2016 (IBC).
Suspension of fresh initiation of insolvency proceedings up to at least one year depending upon the pandemic situation. Coronavirus-related debt are going to be excluded from definition of default.
National Disaster Management Authority(NDMA) developed a web dashboard National Migrant Information System(NMIS) on the prevailing NDMA-Geographical Information System(GIS) portal to capture the knowledge regarding movement of migrants and facilitate the graceful movement of stranded persons across states.
The NMIS Dashboard may be a geo-spatial platform as a decision-support system for current pandemic situations. within the portal, various dashboards are created i.e. public dashboard, logistic management, risk index, quarantine alert etc. which are getting used by states for containment of spread of coronavirus.
Council of Scientific & Industrial Research – Central engineering Research Institute (CSIR-CMERI) , Durgapur has developed two mobile indoor disinfection sprayer units Battery Powered Disinfectant Sprayer (BPDS) and Pneumatically Operated Mobile Indoor Disinfection (POMID) for cleaning and disinfecting pathogenic micro organism.
The BPDS and POMID are often wont to clean and disinfect the frequently accessed surfaces like tables, door knobs, light switches, countertops, handles, desks, phones, heyboads, toilets, faucets, sinks and cardboards.
The Autonomous institutes under the Department of Science & Technology(DST) namely The International Advanced Research Centre for metallurgy and New Materials(ARCI) and Sree Chitra Tirunal Institute of Medical Sciences and technology(SCTIMST) have jointly developed new generation Iron-Manganese(Fe-Mn) based alloys for biodegradable metal implants to be used in humans.
The newly developed alloys are suitable for biodegradable stent and orthopedic implant applications. Invivo and in-vitro studies are being planned by the team at Sri Chitra Tirunal Institute of Medical Sciences.
Ana Sofia Reboleira, a biologist from the University of Copenhagen’s explanation Museum of Denmark, has discovered a replacement species of a parasitic fungus ‘Troglomyces Twitteri’ by employing a image of North American millipede (Cambala annulata) circulating on social media platform Twitter.
Madhya Pradesh launched Charan Paduka campaign, first of its kind initiative for migrant labourers passing through the states during which barefoot migrants are given shoes and slippers. This campaign is conducted by the Police in most of the places.
The Charan Paduka campaign is to support the migrant labourers travelling to their home and to supply footwear like shoes and slippers to scale back their pain. The campaign started within the Rau police headquarters of Indore by the initiative of the Station In-charge Dinesh Verma.
Karnataka’s Centre of Excellence in Cyber Security (CS-CoE) launched the primary cyber security accelerator for startups in India, Hack is an Accelerator for Cyber Security in Karnataka (H.A.C.K) inaugurated on 16th May 2020 by Additional Chief Secretary responsible of Department of IT, BT and S&T, EV Ramana Reddy.
Hack is an Accelerator for Cyber Security in Karnataka (H.A.C.K) inviting all the cyber security startups in both early-stage and growth-stage, for applying for the zeroth cohort launching in Q2 2020. H.A.C.K will provide an innovative incubation platform to attach startups with entrepreneurial ecosystems and marquee mentors round the world who are trying to find a reference to government, industry and market players.
World Telecommunications and information Society Day (WTISD) is widely known per annum on May 17 to boost awareness about the importance of the web and other means of data and communication in bringing the planet closer.
Theme for the year 2020: “Connect 2030: ICTs for the Sustainable Development Goals (SDGs)”.
World Hypertension Day is annually observed on 17th May to make awareness and educate people to stop and control the Hypertension. today was initiated by the planet hypertension League (WHL) an affiliated section of the International Society of Hypertension(ISH) in May 2005.
The theme of World Hypertension Day 2020 is “Measure Your vital sign , Control It, Live Longer”.
World AIDS Vaccine Day (or HIV Vaccine Awareness Day) has been celebrated everywhere the planet to acknowledge and acknowledge the diligence of the thousands of health professionals, volunteers, members of the medical field and scientists who are working together for therefore a few years to form HIV (Human Immunodeficiency Virus) / AIDS (Acquired immunodeficiency syndrome) vaccine. it’s also an event when people are made conscious of the measures and possible treatment to avoid AIDS.
International Museum Day (IMD) is widely known per annum on May 18 globally, to make awareness on the importance of museums for the event of society. The event highlights a selected theme which changes per annum to reflect the idea of the international museum community’s preoccupations.
Theme for the year 2020: “Museums for Equality: Diversity and Inclusion”.