4 October, 2021
Adani Group Signed $700 Million Agreement with SLPA to Develop Srilanka’s Port
The Adani group signed a more than $700-million build-operate-transfer agreement with the Sri Lankan government-owned Sri Lanka Ports Authority (SLPA) and John Keells Holdings (from Sri Lanka) for 35 years to jointly develop a Colombo Western Container Terminal (WCT). It is the 1st largest foreign investment in the port sector of Sri Lanka. Adani Group has become the largest foreign investor under its port sector. The Adani group holds the 51 percent controlling stake of the investment in the Colombo WCT, whereas the John Keels and the SLPA will hold the remaining 34 percent and 15 percent stake in WCT.
Note – Adani Ports and Special Economic Zone (APSEZ) Limited is the largest developer and operator company in India which holds 24 percent of the overall port capacity in India.
About Sri Lanka:
Capital – Colombo, Sri Jayawardenepura Kotte
President – Gotabaya Rajapaksa
Currency – Sri Lankan Rupee
Elon Musk Overtakes Jeff Bezos to Become World’s Richest Person: Bloomberg Billionaires Index
According to the Bloomberg Billionaires Index, a daily ranking of the world’s richest people, as of 28th September 2021, with a total net worth of 213 billion USD, Elon Musk, CEO of Tesla has overtaken Jeff Bezos, founder of Amazon,(total net worth of 197 billion USD) to become the world’s richest person. Elon Musk gained 13 billion USD in net worth with a rise in the share price of tesla. Bernard Arnault, the chairman of Louis Vuitton (LVMH) has secured the 3rd position with a net worth of 160 billion USD. Mukesh Ambani Topped among Indians & ranked 11th globally.Gautam Adani followed him & ranked 14th globally.
NITI Aayog – Released Report on District Hospitals in India; Tie up with AWS, Intel to Boosts Innovation
The National Institution for Transforming India (NITI Aayog), the Government of India’s national policy think tank, released a performance assessment report of district hospitals in India titled ‘Best Practices in the Performance of District Hospitals’.
NITI Aayog conducted the study in consultation with the Ministry of Health and Family Welfare and WHO (World Health Organisation) India.
NITI Aayog ties up with AWS, Intel to Boost Innovation
NITI Aayog tie-up with Intel and Amazon Web Services (AWS) to establish a new experience studio at the NITI Aayog Frontier Technologies Cloud Innovation Center (CIC). The studio will act as a hub for experimentation and collaboration with a focus on agriculture, health care, and smart infrastructure.
About National Institution for Transforming India (NITI Aayog):
Establishment – 2015
Headquarters – New Delhi, Delhi
Chairman – Prime Minister of India (Currently- Narendra Damodardas Modi)
PM Launched 2nd Phases of Swachh Bharat Mission-Urban, AMRUT
Prime Minister (PM) Narendra Modi launched the second phase of Swachh Bharat Mission-Urban (SBM-U 2.0) and the Atal Mission for Rejuvenation and Urban Transformation 2.0 (AMRUT 2.0).
About Ministry of Housing and Urban Affairs (MoHUA):
Union Minister – Hardeep Singh Puri (Constituency – Uttar Pradesh)
Ministry of State – Kaushal Kishore (Constituency – Mohanlalganj, Uttar Pradesh)
Panjayati Raj Minister Giriraj Singh Launched PPC 2021, Gram Sabha Dashboard
The Union Minister for Panchayati Raj and Rural Development Giriraj Singh launched the People’s Plan Campaign (PPC) 2021- Sabki Yojana Sabka Vikas and Vibrant Gram Sabha Dashboard. He released a booklet on PPC 2021 for the preparation of plans for FY23 and the 10th issue of Gramoday Sankalp Magazine. The PPC 2021 was scheduled to be rolled out in all the States from 2nd October 2021.
i.It is a strategy for ensuring the preparation of GPDP (Gram Panchayat Development Plan) in a campaign mode. PPC 2021 meetings will be rolled out from October 2, 2021, to January 31, 2022.
ii.The meetings include physical presence and presentation by frontline workers/supervisors on 29 sectors including Agriculture, Minor Irrigation, Animal husbandry, Fisheries, Social Forestry, etc.
iii.The GPDP aims to strengthen the role of elected representatives of Panchayats and SHG (Self Help Group) Women under DAY-NRLM (Deendayal Antyodaya Yojana – National Rural Livelihoods Mission) ineffective Gram Sabha.
About Ministry of Panchayati Raj:
Union Minister – Giriraj Singh (Constituency – Begusarai, Bihar)
Minister of State – Kapil Moreshwar Patil (Constituency – Bhiwandi, Maharashtra)
Acuite Ratings Became 1st Indian CRA to Join UN Supported ESG Initiative
Acuite Ratings & Research associated with the Principles for Responsible Investment (PRI), a United Nations (UN)- backed initiative that deals with ESG (Environmental Social Governance) credit risk. Acuite became the 1st Indian credit rating agency (CRA) to sign an UN-supported initiative for the integration of ESG factors with credit risk and rating criteria. ESG is supported by over 170 investors (with nearly US$ 40 trillion in collective assets under management) and 27 CRAs over the world. Fitch, Moody’s, S&P Global, and Kroll Bond are among others, which are existing signatories of PRI. In January 2021, Acuite set up subsidiary ‘ESG Risk Assessments & Insights’ to make assessments for investors and corporates.
About Acuité Ratings & Research:
It is a service credit rating agency with registration from SEBI (Securities And Exchange Board of India) and the accreditation from Reserve bank of India (RBI).
Headquarters – Mumbai, Maharashtra
Group CEO & Executive Director – Sankar Chakraborti
IDBI Bank signs Co-Lending Agreement with U GRO Capital
U GRO Capital has signed a co-lending agreement with the IDBI (Industrial Development Bank of India) Bank to provide credit support to MSMEs (Micro Small Medium Enterprises) at affordable interest rates.
The agreement will provide digital support of U GRO Capital’s platform driven by a Data Tripod– which consist of GST(Good and Services tax), banking and bureau.
About IDBI Bank (Industrial Development Bank of India )
MD & CEO– Rakesh Sharma
Headquarters– Mumbai, Maharashtra
About U GRO Capital
Headquarters– Mumbai, Maharashtra
Executive Chairman and Managing Director- Shachindra Nath
T20 World Cup Anthem Launched By ICC
The International Cricket Council launched the official anthem of the upcoming T20 World Cup. Highlights: ♦ The ICC has launched the official anthem of the T20 World Cup, with a campaign film featuring ‘avatars’ of Virat Kohli and West Indies skipper Kieron Pollard.
India wins Bronze at Asian TT Championships
The Indian men’s table tennis team has won bronze medal at the Asian Table Tennis Championships on October 1, 2021. Highlights Indian team won bronze after losing to South Korea by 0-3 in the semi-finals. Team was assured of winning a medal after beating Iran by 3-1 in the quarterfinals on September 29.
ISRO’s NSIL announces its first demand-driven communication satellite
The Indian Space Research Organisation’s (ISRO) commercial arm, New Space India Limited (NSIL) announced its first ‘demand-driven’ communication satellite mission as part of Space reforms announced by the government in June 2020. As part of this initiative, NSIL is undertaking its 1st demand driven communication satellite mission named GSAT-24, a four-tonne class Ku- band satellite. The entire satellite will be leased to Tata Sky for meeting their DTH application needs
About New Space India Limited
It is a public sector undertaking of Government of India and commercial arm of Indian Space Research Organisation
Founded: 6 March 2019
Headquarters: Bengaluru, Karnataka
Chairman and Managing Director: G Narayanan
Centre appoints BC Patnaik MD of LIC
The Union government appoints BC Patnaik Managing Director of Life Insurance Corporation of India (LIC) on October 1, 2021, by notification dated July 5, 2021. Earlier, he was working as the secretary general, Council for Insurance Ombudsman (CIO), Mumbai. Prior to which he was the Director of Zonal Training Centre of the North Central Zone of LIC at Agra. He joined LIC of India in March 1986 as a Direct Recruit Officer.
It stands for Life Insurance Corporation of India.
It is an Indian statutory insurance and investment corporation.
Chairperson: M R Kumar
Kangana Ranaut named Brand Ambassador of UP Govt ‘One District-One Product’ Scheme
The government of Uttar Pradesh (UP) appointed Indian actor Kangana Ranaut as the brand ambassador of its ” one district-one product” programme (ODOP).
The ODOP aims to create product-specific traditional industrial hubs across 75 districts of the state. It facilitates development of ingenious and specialized products and crafts of UP that are not found anywhere else.
About ODOP (one district-one product) programme
About the Scheme:
i.First started by the UP government.ODOP is aimed at giving a major push to traditional industries with the respective districts of the state.
ii.The objective of the ODOP is to optimise production, productivity and income, preservation and development of local crafts, promotion of art, improvement in product quality and skill development.
iii.Under the initial phase of the ODOP programme, 106 Products have been identified from 103 districts across 27 States.
iv.State Export Promotion Committee (SPEC) and District Export Promotion Committee (DEPC) have been constituted in all states and districts of India, except districts of the state of West Bengal.
The ODOP programme covers products of agriculture and allied sectors for almost 728 districts of the country.