14th May, 2021 – Daily News

Topics coveredCovAid portal, National Bamboo Mission, Market Handbook 2021, Resilience COVID-19 Crisis Through a Migration Lens report, OneWeb’s satellite communication services, Bhagyodaya Friends Urban Co-operative Bank Limited, DigiGold, 2021 Women’s Rugby World Cup 

Bulletins

  1. NITI Aayog has launched CovAid portal to monitor the aid received by the govt of India for fighting the Covid-19 pandemic.
  2. Central government has launched a management information system (MIS) under the National Bamboo Mission for strengthening the domestic agarbatti industry.
  3. Council on Energy, Environment and Water (CEEW) and CEF have released the Market Handbook 2021.
  4. World Bank has released the “Resilience COVID-19 Crisis Through a Migration Lens” report.
  5. SoftBank Corp and Sunil Mittal-backed OneWeb have signed an agreement for mutual cooperation to promote OneWeb’s satellite communication services in the global and Japan markets.
  6. RBI has cancelled the licence of Bhagyodaya Friends Urban Co-operative Bank Limited (Amravati, Maharashtra), as the lender does not have adequate capital and will be unable to pay its present depositors in full.
  7. Airtel Payments Bank has launched DigiGold, a digital platform for its customers to make investments in gold.
  8. 2021 Women’s Rugby World Cup will now take place in 2022 in New Zealand from October 8-November 12.

Table of Content

National News

  1. NITI Aayog has launched CovAid portal to monitor the aid received by the govt of India for fighting the Covid-19 pandemic.
      • The portal will help maintain transparency.
      • Indian Red Cross Society is financially responsible for all consignments of donations from foreign countries.
  2. Central government has launched a management information system (MIS) under the National Bamboo Mission for strengthening the domestic agarbatti industry.
      • The MIS will collate data on agarbatti stick production, the locations of stick making units, availability of raw material, functioning of the units, production capacity, marketing, etc.
      • The National Bamboo Mission (NBM), launched in 2018-19 for the holistic development of the bamboo sector, is presently being implemented in 21 states, including nine states of the north-eastern region.
National Bamboo Mission

Reports & Indices

    1. Council on Energy, Environment and Water (CEEW) and CEF have released the Market Handbook 2021.
        • India added 12.1 GW power generation capacity in 2020-21, out of which 7.7 GW (64%) was in renewable energy, followed by 3.9 GW was in coal / ignite.
        • The share of renewable energy in the overall energy sector in 2020 was 10.1% in comparison to 9.4% in 2019-20.
        • India’s total power generation increased by 1.3% in FY21 despite Covid-19.
        • Solar Power accounted for 73% or 5.5 GW capacity in FY2021. Solar rooftop capacity addition stood at 1.8 GW in 2021.
        • Overall, renewable energy generation increased by 8.5% as compared to 2019.
        • Ministry of New and Renewable Energy (MNRE) announced the implementation of 40% and 25% basic customs duty (BCD) on solar modules and solar cells, respectively, effective April 2022.
        • This resulted in 11% hike in tariffs discovered for solar auctions conducted at GUVNL from INR 1.99/kWh (in December 2020) to INR 2.20/kWh (in March 2021).
    2. World Bank has released the “Resilience COVID-19 Crisis Through a Migration Lens” report.

Global Scenario:

        • Total remittances inflow to low and middle income countries in 2020 – $540 billion (estimated). It is -1.6% growth in remittance in 2020.
        • Total remittances flow in 2020 – $702 billion
        • Top 3 countries with remittances outflows – US ($68 billion), UAE ($43 billion), and Saudi Arabia ($35 billion).

India Related Facts:

      • India has received $83 billion as remittances in 2020, which is 0.2% less than $83.3 billion in 2019.
      • India received the highest remittances inflows in low and middle income countries, followed by China ($59.5 billion) and Mexico ($42.8 billion).
      • Remittances from UAE to India dropped by 17% from UAE.
      • Remittance outflow from India was $7 billion, in comparison to $7.5 billion.
Table 1.1 Estimates and Projections of Remittance Flows to Low – and Middle- Income Regions
Region 2009 2015 2016 2017 2018 2019 2020e 2021f 2022f
($ Billion)
Low-and Middle-Income countries 302 446 441 478 524 548 540 553 565
East Asia and Pacific 80 128 128 134 143 148 136 139 142
Europe and Central Asia 33 42 43 52 59 62 56 54 50
Latin America and Caribbean 55 68 73 81 89 96 103 108 112
Middle East and North Africa 31 50 49 52 53 55 56 57 59
South Asia 75 118 111 117 132 140 147 152 158
Sub-Saharan Africa 28 41 37 41 49 48 42 43 44
World 433 602 597 640 694 719 702 713 726
(Growth rate, percent)
Low-and Middle-Income countries -4.8 0.5 -1.3 8.4 9.8 4.6 -1.6 2.6 2.2
East Asia and Pacific -4.8 3.7 -0.5 5.1 6.8 3.0 -7.9 2.1 2.1
Europe and Central Asia -11.3 -15.3 2.1 21.0 12.9 4.6 -9.7 -3.2 -6.9
Latin America and Caribbean -12.3 6.5 7.4 11.1 9.9 8.3 6.5 4.9 4.0
Middle East and North Africa -6.0 -6.4 -1.2 5.3 2.3 3.4 2.3 2.6 3.1
South Asia 4.5 1.6 -5.9 6.0 12.3 6.1 5.2 3.5 4.0
Sub-Saharan Africa -2.1 6.6 -8.3 10.8 17.4 -0.4 -12.5 2.6 1.6
World -5.0 -1.3 -0.8 7.1 8.5 3.7 -2.4 1.5 1.8

Banking & Economy

  1. SoftBank Corp and Sunil Mittal-backed OneWeb have signed an agreement for mutual cooperation to promote OneWeb’s satellite communication services in the global and Japan markets.
      • This collaboration facilitates setting up of ground stations in Japan.
  2. RBI has cancelled the licence of Bhagyodaya Friends Urban Co-operative Bank Limited (Amravati, Maharashtra), as the lender does not have adequate capital and will be unable to pay its present depositors in full.
      • RBI has cancelled the licence of the United Co-operative Bank Ltd (West Bengal) as the bank does not have adequate capital and earning prospects.
  3. Airtel Payments Bank has launched DigiGold, a digital platform for its customers to make investments in gold.
      • DigiGold has been launched in partnership with SafeGold, a provider of digital gold.
      • With DigiGold, Airtel Payments Bank’s savings account customers can invest in 24K gold using the Airtel Thanks app.
Airtel Payments Bank DigiGold

Sports

  1. 2021 Women’s Rugby World Cup will now take place in 2022 in New Zealand from October 8-November 12.

Start Quiz of 14th May 2021

Q.1) COVID-19 Crisis Through a Migration Lens report?
 Q.2) What is the name of the portal launched by NITI Aayog to monitor the aid received by the govt of India for fighting the Covid-19 pandemic?
Q.3) Which organization has partnered with OneWeb for mutual cooperation to promote OneWeb's satellite communication services in the global and Japan markets?
 Q.4) Where is United Co-operative Bank Ltd located?
 Q.5) Which company has launched DigiGold platform?
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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