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SBI revises FY21 GDP growth estimate to -7.4% from -10.9% in its Ecowrap report.
SBI report upgraded India’s GDP forecast from -10.9% to -7.4% for FY21 and said it would take 7 quarters from the 4th quarter of FY21 for GDP to reach the pre-pandemic level in nominal terms. It forecast FY22 GDP growth to be at 11 percent.
Did you Know
Estimates based on SBI ”Nowcasting Model” with 41 indicators.
Shashi Shekhar Vempati,CEO of Prasar Bharati elected Vice President of Asia Pacific Broadcasting Union (ABU).
Shashi Vempati was elected as VP of ABU, one of the largest broadcasting associations in the world, for a 3 year term. ABU formed in 1964 is a professional association of broadcasting organisations with over 286 members in 57 countries and regions.
Did you Know
Prasar Bharati:
Founded – Nov 1997;
HQ – New Delhi.
Centre, NDB sign $1 billion loan pact to support India’s economic recovery from COVID-19 pandemic
The loan of $1,000 million from NDB will support the Government of India’s efforts in mitigating the economic impact of the COVID-19 & enable economic recovery in the rural areas through NRM works & employment generation under MGNREGS.
Did you Know
NDB:
President – Marcos Prado Troyjo;
HQ – Shanghai, China
India drops two ranks, stands at 131: UNDP’s Human Development Index 2020.
India’s HDI value for 2019 is 0.645 and was ranked 131 out of 189 countries. India’s gross GNI per capita on the basis of purchasing power parity (PPP) fell from $6,829 in 2018 to $6,681 in 2019. Norway topped the index, followed by Ireland & Switzerland.
Did you Know
Medium human development – ranks from 120 to 156.
Chinese lunar capsule of Chang’e 5 probe returns to Earth carrying moon rocks, first in more than 40 years.
A Chinese lunar capsule has returned to Earth with the first fresh samples of rock and debris since the former Soviet Union’s Luna 24 robot probe in 1976. The samples come from a part of the moon known as the Oceanus Procellarum, or Ocean of Storms.
Did you Know
In July 2020, China launched the Tianwen 1 probe to explore Mars
SEBI paves way for fintech startups to apply for mutual fund(MF) licenses by relaxing norms.
SEBI said that sponsors not meeting profitability criteria can apply for MF licenses. Earlier regulations required both profitability track-record of sponsor and minimum net-worth of Rs 50 crore.Relaxation will help fintechs to get into MF business.
Did you Know
Some active Fintechs – PayTM, Zerodha, Groww and Kuvera.
Mumbai, the most expensive Indian city for expats once again, dropped 34 places: ECA’s International Cost of Living Report 2020
Mumbai dropped 34 places and was placed 94th most expensive city for expatriates. New Delhi – 144, Bengaluru -174,Hyderabad -177 & Kolkata-179. Globally, Hong Kong is at No.1, Tokyo – 2nd, New York- 3 & Geneva at 4th place.
Did you Know
Luanda in Angola plunged 104 places from 37 to 141.
SEBI approves new shareholding norms for listed companies under Corporate Insolvency Resolution Process (CIRP).
SEBI approved new shareholding norms for CIRP companies & decided to give relaxation in minimum promoter contribution in follow-on public offer. Firms should have at least 5% public shareholding during admission to dealing on the stock exchange.
Did you Know
CIRP is a recovery mechanism in Insolvency and Bankruptcy Code.
India and Bangladesh to reopen Chilahati-Haldibari rail link after nearly 55 years.
India & Bangladesh will reopen the Chilahati-Haldibari rail link after nearly 55 years with an aim to enhance transport & connectivity between the two. It was cut off during the 1965 India-Pakistan war. There are 6 pre-1965 rail links between the two.
Did you Know
4 of 6 rail links are operational already.
NPCI adds offline transactions feature in RuPay cards, reloadable wallet facility for retail payments.
NPCI has enabled an offline payments feature on RuPay Contactless cards, which provides reloadable wallets within the Card.The RuPay NCMC (National Common Mobility Card) offline wallet can be used to make ticket payments in transit like in metros,cabs etc.
Did you Know
Head of RuPay & NFS, NPCI – Nalin Bansal
Hyderabad’s Nehru Zoological Park gets ISO quality management standards( QMS)certification from the UK.
Nehru Zoological Park has become the first zoo in India to acquire ISO 9001:2015 QMS Certification. It was assessed on the basis of sanitisation, food processing, animal breeding, medicare, animal care, hygiene maintenance and establishment.
Did you Know
ASCB, United Kingdom gave the certification.
Qatar to host 2030 Asian Games, 2034 edition in Saudi Arabia.
The hoeting of 2030 Asian Games were awarded to Qatar & 2034 to Saudi Arabia. The Qatari capital of Doha beat Saudi Arabian counterpart Riyadh for the 2030 Asian Games in the vote at the Olympic Council of Asia’s general assembly.
Did you Know
Qatar is also the host of the 2022 World Cup.
- Realtime Trends in India
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- Nobel Prize Winners 2021 | Peace, Physics, Economics, & More
- Ministry of Law and Justice (India)
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