09th September, 2021 – Daily News

Topics covered – Emergency Landing Facility , ‘Namma Shaale Nanna Koduge’ initiative , Asian Development Bank , Social Justice Day, International Union for the Conservation of Nature , Board for Advance Rulings, India Post Payments Bank , T+1 settlement cycle , nFiNi, Hurun India Future Unicorn List 2021, Tata AIA Life Insurance , MD and CEO of IDFC FIRST Bank, Chairman and MD of National Fertilizer , chairman and managing director (CMD) of Rashtriya Ispat Nigam Ltd , International Literacy Day , World Electric Vehicle (EV) Day , Himalaya Day , Gita Govinda: Jaydeva’s Divine Odyssey” book.

Bulletins

  1. For the first time in India, an Emergency Landing Facility has been built on a National Highway, which is located in Rajasthan.
  2. Jana Small Finance Bank has become the payment gateway services provider to ‘Namma Shaale Nanna Koduge’ initiative of the Karnataka govt.
  3. Gujarat government has signed an MoU with Amazon India to boost the export of MSME sector.
  4. Asian Development Bank (ADB), Government of India, and Jharkhand govt have signed a $112 million loan to develop water supply infrastructure and strengthen the capacity of urban local bodies (ULBs) for improved service delivery in four towns in the state.
  5. Tamil Nadu govt has announced to celebrate the birth anniversary of reformist leader E V Ramasamy Periyar (on September 17) as the “Social Justice Day” in the state.
  6. According to International Union for the Conservation of Nature (IUCN), 37% of the world’s sharks and rays are considered in danger as of 2021, up from 33% seven years ago.
  7. Central Board of Direct Taxes (CBDT) has set up three Board for Advance Rulings to offer greater clarity on tax implications of transactions, which in turn will help avoid income tax disputes.
  8. India Post Payments Bank (IPPB) and LIC Housing Finance have partnered to make LIC Housing Finance Ltd.’s (LICHFL) home loan products accessible to IPPB’s customers pan-India.
  9. SEBI has introduced an optional T+1 settlement cycle for the markets, which will be operationalised from January 1, 2022.
  10. National Payments Corporation of India (NPCI) and Fiserv Inc have partnered to launch the plug-and-play RuPay credit card stack, nFiNi.
  11. For the first time, Hurun Research Institute has released the ‘Hurun India Future Unicorn List 2021’.
  12. Byju’s has acquired Gradeup and renamed it as Byju’s Exam Prep.
  13. Tata AIA Life Insurance has appointed Neeraj Chopra as its brand ambassador.
  14. V Vaidyanathan has been appointed as the MD and CEO of IDFC FIRST Bank.
  15. Nirlep Singh Rai has been appointed as the Chairman and MD of National Fertilizer Ltd.
  16. Atul Bhatt has been appointed as chairman and managing director (CMD) of Rashtriya Ispat Nigam Ltd (RINL).
  17. International Literacy Day is observed on September 8 by UNESCO.
  18. World Electric Vehicle (EV) Day is observed on September 9.
  19. Himalaya Day is observed on September 9 in India by National Mission For Clean Ganga and Naula Foundation.
  20. “Gita Govinda: Jaydeva’s Divine Odyssey” book has been authored by Utpal K. Banerjee.
  21. Indian Railways has introduced a new economy class in the AC 3-tier trains.

Table of Content

National News

  1. For the first time in India, an Emergency Landing Facility has been built on a National Highway, which is located in Rajasthan.
      • Exact location – NH 925 in Jalore, Rajasthan

State News

  1. Jana Small Finance Bank has become the payment gateway services provider to ‘Namma Shaale Nanna Koduge’ initiative of the Karnataka govt.
      • The Namma Shaale – Nanna Koduge (My School, My contribution) programme aims to provide accessibility to donors who wish to donate money to any government school in Karnataka.
      • With this tie-up, donors can access Jana SFB’s complete payment ecosystem of RTGS, NEFT, UPI, IMPS, Debit card, NACH etc. to make their donations.
      • Jana Small Finance Bank MD and CEO – Ajay Kanwal
  2. Gujarat government has signed an MoU with Amazon India to boost the export of MSME sector.
  3. Asian Development Bank (ADB), Government of India, and Jharkhand govt have signed a $112 million loan to develop water supply infrastructure and strengthen the capacity of urban local bodies (ULBs) for improved service delivery in four towns in the state.
      • The Jharkhand Urban Water Supply Improvement Project will improve water supply in Ranchi, Hussainabad, Jhumri Telaiya, and Medininagar.
      • Four water treatment plants, with a combined capacity of 275 million liters per day, will be established in the project towns to provide safe drinking water.
  4. Tamil Nadu govt has announced to celebrate the birth anniversary of reformist leader E V Ramasamy Periyar (on September 17) as the “Social Justice Day” in the state.

International News

  1. According to International Union for the Conservation of Nature (IUCN), 37% of the world’s sharks and rays are considered in danger as of 2021, up from 33% seven years ago.
      • The population decline in the sharks and rays has been on a rise since 2014.
      • Oceanic shark populations have dropped by 71% since 1970.
      • More than 38,000, out of the 1,38,000 species, that the IUCN Red List Unit assesses every year, are threatened with extinction.

Banking & Economy

  1. Central Board of Direct Taxes (CBDT) has set up three Board for Advance Rulings to offer greater clarity on tax implications of transactions, which in turn will help avoid income tax disputes.
      • Of them, two boards will be Delhi and one will be in Mumbai.
  2. India Post Payments Bank (IPPB) and LIC Housing Finance have partnered to make LIC Housing Finance Ltd.’s (LICHFL) home loan products accessible to IPPB’s customers pan-India.
  3. SEBI has introduced an optional T+1 settlement cycle for the markets, which will be operationalised from January 1, 2022.
      • T+1 means that settlements will have to be cleared within one day of the actual transactions taking place.
      • Stock exchanges can opt for either T+1 or T+2 cycle. Once they opt for T+1 settlement cycle, they have to continue with it for at least 6 months.
      • After that, in case the exchange intends to switch back to the T+2 settlement cycle, it will do so by giving one-month advance notice to the market.
      • Any subsequent switch (from T+1 to T+2 or vice versa) will be subject to the minimum notice period. There will be no netting between T+1 and T+2 settlements.
  4. National Payments Corporation of India (NPCI) and Fiserv Inc have partnered to launch the plug-and-play RuPay credit card stack, nFiNi.
      • The nFiNi – BaaS (banking-as-a-service) programme – provides a ready stack of services required for fintech companies and banks to issue RuPay credit cards.
      • The platform will provide all services needed for issuing credit cards, which are powered by Rupay network, to the fintech and banks.
  5. For the first time, Hurun Research Institute has released the ‘Hurun India Future Unicorn List 2021’.
      • India is home to a total of 51 unique unicorns, at present.
      • Bengaluru is still the main hub of the startup ecosystem. It has a total of 31 start-ups.
      • E-commerce, FinTech and SaaS (software-as-a-service) businesses comprise 49% of the list.
      • The adoption of technology by rural India and the number of internet users is likely to rise to 900 million by 2025, which will boost these start-ups.
      • Country-wise – India stands at 3rd rank in terms of number of unicorns.
Table 1 : India is the third-largest unicorn ecosytem in the world
USA China India UK Germany
No. of unicorns 396 277 51 32 18
Avg. Years to unicorn 7 6 7.3 6.5 6
Avg. Valuation (US$ bn) 3.1 4.7 3.3 2.7 2.5
No. of unicorn added 217 98 31 14 10
Source : Hurun Research Institute 2021. Hurun India Future Unicorn List 2021
    • List of top 10 unicorns in India: –
Table 2 : Top 10 on the Hurun Future Unicorn List 2021
Rank Company Total Funding Received (US$mn) Founded Year Core Competence Main Sector Headquarters
1 Zilingo 310 2015 E-Commerce Singapore
2 Mobile Premier League 230 2018 Gaming Bengaluru
3 Rebel Foods 340 2011 Shared Economy Pune
4 Cure Fit 410 2016 Fitness Bengaluru
5 Spinny 230 2015 E-Commerce Gurugram
6 RateGain 50 2004 SaaS Noida
7 MamaEarth 70 2016 E-Commerce Gurugram
8 CarDekho 250 2007 E-Commerce Gurugram
9 GreyOrange 170 2011 Artificial Intelligence Singapore
10 MobiKwik 170 2009 FinTech Gurugram
Source : Hurun Research Institute 2021. Hurun India Future Unicorn List 2021
    • Top 10 Cheetah: Unicorn in the next 4 years (the start-ups which have the potential to become unicorns in the next four years): –
Table 4 : Cheetahs on the Hurun India Future Unicorn List 2021
Rank Company Year Founded Total Funding Received(US$mn) Core Competence Main Sector
1 Pepperfry 2011 250 E-Commerce
2 DealShare 2018 150 E-Commerce
3 Mswipe Technologies 2011 100 FinTech
4 Xpressbees 2015 280 Logistics
5 NoBroker 2014 210 E-Commerce
6 ElasticRun 2015 130 Enterprise Services
7 MedPlus 2006 320 Health Tech
8 FarEye 213 150 SaaS
9 Ixigo 2006 70 E-Commerce
10 Freshertohome 2015 150 E-Commerce
  1. Byju’s has acquired Gradeup and renamed it as Byju’s Exam Prep.
      • Founders of Byju’s – Byju Raveendran and Divya Gokulnath (co-founder)
Byju’s has acquired Gradeup

Appointments

  1. Tata AIA Life Insurance has appointed Neeraj Chopra as its brand ambassador.
  2. V Vaidyanathan has been appointed as the MD and CEO of IDFC FIRST Bank.
  3. Nirlep Singh Rai has been appointed as the Chairman and MD of National Fertilizer Ltd.
      • NFL is a mini-ratna company with 74.71% govt holding.
  4. Atul Bhatt has been appointed as chairman and managing director (CMD) of Rashtriya Ispat Nigam Ltd (RINL).
      • RINL, Vishakhapatnam is owned by Ministry of Steel.

Important Days

  1. International Literacy Day is observed on September 8 by UNESCO.
      • Theme – Literacy for a human-centred recovery: Narrowing the digital divide
      • Winners of UNESCO’s literary awards: –
Awards Winners
UNESCO King Sejong Literacy Prize About: Established in 1989 with the help of Republic of Korea, the award is given to 3 winners annually in the field of mother language-based literacy development.
2021 Winners:
A) National Institute of Open Learning, India
B) Puku Children’s literature foundation, South Africa
C) Limitless Horizon Ixil, Guatemala
UNESCO Confucius Prize for Literacy About: Established in 2005 with Chinese govt, the award is given to 3 winners annually for promoting functional literacy, leveraging technological environments, in support of adults in rural areas and out-of-school Youth.
2021 Winners:
A) ONG GA-TIC Côte d'Ivoire in Côte d'Ivoire
B) Ain-Shams University in Egypt
C) Construyendo y Creciendo in Mexico
  1. World Electric Vehicle (EV) Day is observed on September 9.
  2. Himalaya Day is observed on September 9 in India by National Mission For Clean Ganga and Naula Foundation.
      • Theme – ‘Contribution of Himalayas and Our Responsibilities’
      • The event was part of the ongoing celebration of ‘Azadi ka Amrit Mahotsav’. The day is being observed since 2015.
      • A webinar on “Pahad-Paani-Parampra” was organized.

Miscellaneous

  1. “Gita Govinda: Jaydeva’s Divine Odyssey” book has been authored by Utpal K. Banerjee.
  2. Indian Railways has introduced a new economy class in the AC 3-tier trains.
      • The facility is being provided in Prayagraj-Jaipur train.
AC 3-tier

Start Quiz of 09th September 2021

Q.1) Where is India’s first National Highway Emergency Landing Facility located?
Q.2) Which bank has become the payment gateway services provider to the govt school donation initiative of the Karnataka govt?
Q.3) With which company has Gujarat state govt signed an MoU to boost the export of MSME sector?
Q.4) Which state has received $112 million loan from Asian Development to develop urban water supply infrastructure?
Q.5) Which state has announced to celebrate the birth anniversary of reformist leader E V Ramasamy Periyar as the “Social Justice Day”?
Q.6) Recently, Central Board of Direct Taxes (CBDT) has set up three Board for Advance Rulings to offer greater clarity on tax implications of transactions, which in turn will help avoid income tax disputes. Where are these boards situated?
Q.7) For how many months do the stock exchanges need to mandatorily follow T+1 cycle after adoption, from January 1, 2022?
Q.8) Which organization has launched nFiNi – a suite of services for fintech and banks - for promoting Rupay backed credit card?
Q.9) Where does India stand worldwide in terms of number of unicorns, as per the Hurun India Future Unicorn List 2021?
Q.10) Who has been appointed as the Chairman and MD of National Fertilizer Ltd?
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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