08th May, 2021 – Daily News

Topics covered – European Investment Bank (EIB) and the State Bank of India agreement, Neev Fund II, CII: EU-India Business Roundtable, India’s first state to adopt online flood forecasting system, Passage Exercise, chatbot ‘Eva’, Imola Acquisition Corporation, Global Powers of Retailing and World’s Fastest Retailers report, prepaid payment instruments, National Technology Day, ‘Life in the Clock Tower Valley’ book, ‘Elephant’ book, footballer Fortunato Franco.

Bulletins

  1. European Investment Bank (EIB) and the State Bank of India (SBI) have signed an agreement worth €100 million for new high-impact climate action and sustainability business financing.

  2. Assam has become India’s first state to adopt online flood forecasting system.

  3. Indian and Indonesian Navies conducted Passage Exercise (PASSEX) in the southern Arabian sea for improving their interoperability.

  4. HDFC Bank and Common Services Centres (CSCs) have partnered to launch the chatbot ‘Eva’ on CSCs Digital Seva Portal to support the Village Level Entrepreneurs (VLEs).

  5. Competition Commission of India (CCI) has approved proposed acquisition of 100% shareholding and sole control of Ingram Micro Inc by Imola Acquisition Corporation.

  6. Deloitte has released the “Global Powers of Retailing and World’s Fastest Retailers” report.

  7. RBI has granted an authorization to Bajaj Finance for issuance and operation of semi-closed prepaid payment instruments with perpetual validity.

  8. National Technology Day is observed on May 11 by India.

  9. ‘Life in the Clock Tower Valley’ book has been written by Journalist Shakoor Rather.

  10. ‘Elephant’ book has been written by Paul Pickering (British novelist).

  11. Former India international footballer Fortunato Franco passed away.

Table of Content

National News

  1. European Investment Bank (EIB) and the State Bank of India (SBI) have signed an agreement worth €100 million for new high-impact climate action and sustainability business financing.
      • For this, both banks have set up Neev Fund II, under the SBICap Ventures, to stir climate action and sustainability investment by businesses across India through new equity financing.
      • This is one of the EIB’s first private equity investments in India.
      • Neev Fund I was set up in 2015 by UK and Indian govt to catalyse investment in Indian states which have traditionally not received private investments.
      • EIB has given €250,000 donation to India for combating Covid-19.
      • EIB has committed second tranche of 150 million euros for Pune Metro Rail project. EIB had approved total loan of 600 million euros to fund the Pune Metro Rail project. First tranche of 200 million euros was given in 2019.
          • Maharashtra Metro Rail Corporation Ltd (MAHAMETRO) is the implementing agency for this project.
      • CII: EU-India Business Roundtable has taken place virtually to strengthen bilateral cooperation in the areas of climate, digital and healthcare and to support increased trade and investment.

State News

  1. Assam has become India’s first state to adopt online flood forecasting system.
      • The online system is developed jointly by Assam State Disaster Management Agency and UNICEF.
      • It will replace the existing manual flood control mechanism.
      • Driven by web-cum-mobile application technology, the new system will help delivery of relief and rehabilitation grants to flood-affected people.
      • This digital initiative will facilitate tracking of damages to crops and loss of livestock and also help provide financial assistance for restoration.

Defence News

  1. Indian and Indonesian Navies conducted Passage Exercise (PASSEX) in the southern Arabian sea for improving their interoperability.
      • Indian Navy was represented by INS Sharda, an Offshore Patrol Vessel (OPV) with a Chetak helicopter.
      • Indonesian Navy was represented by KRI Sultan Hasanudin, a 90m Corvette.
Indian and Indonesian Navies conducted Passage Exercise

Banking & Economy

  1. HDFC Bank and Common Services Centres (CSCs) have partnered to launch the chatbot ‘Eva’ on CSCs Digital Seva Portal to support the Village Level Entrepreneurs (VLEs).
      • The chatbot will help in providing banking services for the last mile rural consumers.
      • Through Eva, VLEs will learn about the products and services offered by the HDFC Bank.
  2. Competition Commission of India (CCI) has approved proposed acquisition of 100% shareholding and sole control of Ingram Micro Inc by Imola Acquisition Corporation.
      • The proposed deal relates to the acquisition of Ingram together with its parent companies GCL Investment Management Inc and GCL Investment Holding Inc besides its direct and indirect subsidiaries.
      • Imola is a newly incorporated entity belonging to Platinum Equity Group (US company).
      • Ingram Micro is a US headquartered IT company.
  3. Deloitte has released the “Global Powers of Retailing and World’s Fastest Retailers” report.
      • Reliance Retail is the only Indian entry in the global list of 250 retailers. Reliance was placed at 53rd rank (which is improvement from 56th rank).
      • Reliance Retail is the second fastest growing retailer in the world in the 2021. Last year, it ranked at top position.
      • Top – US giant Walmart Inc, followed by Amazon.com Inc.
      • The top 10 has seven US retailers and one from the UK (Tesco PLC at 10th position).
  4. RBI has granted an authorization to Bajaj Finance for issuance and operation of semi-closed prepaid payment instruments with perpetual validity.

Important Days

  1. National Technology Day is observed on May 11 by India.
      • Theme – Science and Technology for a Sustainable Future
      • 2021 was the 30th National Technology Day. The first time the National Technology Day was celebrated was on May 11, 1999.
      • On this day in 1998, India had successfully conducted nuclear tests in Pokhran, Rajasthan.
      • Operation Shakti was the code name given to the tests which were conducted on that day, which were led by the late President Dr APJ Abdul Kalam.
National Technology Day on May 11

Miscellaneous

  1. ‘Life in the Clock Tower Valley’ book has been written by Journalist Shakoor Rather.
      • It is the debut book of Rather (Press Trust of India journalist).
      • The book is based on Kashmir past, present and future.
  2. ‘Elephant’ book has been written by Paul Pickering (British novelist).

  3. Former India international footballer Fortunato Franco passed away.
      • He was an integral part of the Indian football team which won the Gold medal at the 1962 Asian Games.

Start Quiz of 08th May 2021

Q.1) Which state has become India’s first state to adopt online flood forecasting system?
 Q.2) Which bank has partnered with Common Services Centres to launch the chatbot ‘Eva’ on CSCs Digital Seva Portal to support the Village Level Entrepreneurs?
Q.3) What is the theme of National Technology Day 2021?
 Q.4) Whose debut book is titled as ‘Life in the Clock Tower Valley’?
 Q.5) With which country has India jointly launched the Neev Fund I?
CEO of Anujjindal.in


About Anuj Jindal

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Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 4 years of experience in the field of Education.

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