BDL signs licence agreement with DRDO for Akash Missile Weapon System

1.AIIB extends $50 mn loan to L&T Infra Finance for Renewable Energy

Asian Infrastructure Investment Bank (AIIB) has released $50 million in the first tranche of assistance to L&T Infrastructure Finance Ltd for funding Renewable Energy projects in the country.The Beijing-based multilateral development bank, which invests in sustainable infrastructure, has sanctioned a total $100 million loan to the unit of L&T Finance Holdings.This is AIIB’s first loan to a non-banking financial company (NBFC) in India.The loan proceeds will be used to on-lend to large and mid-scale wind and solar power infrastructure projects in India.

2.Ujjwala beneficiaries can get free domestic cooking gas cylinder till September

The Union cabinet approved an extension till end September for availing free cooking gas cylinders under the marque Pradhan Mantri Ujjwala Yojana (PMUY).The earlier announced Pradhan Mantri Garib Kalyan Yojana (PMGKY) package included providing women of 83 million below poverty line (BPL) families with free cooking gas cylinders for three months under the Ujjwala scheme.Given that the approved scheme was to end in June, the petroleum ministry proposed for time extension by three months for the Ujjwala beneficiaries to avail the free cylinders.

3.Odisha CM Naveen Patnaik launches eight web solutions for public services under 5T initiatives

Chief Minister Naveen Patnaik launched eight technology driven solutions under 5T initiatives for Home and General Administration departments.The 5T model of governance along with Mo Sarkar has improved the quality of governance and eased delivery of public services.Odisha is the first State in the country to have put in place an advanced system which uses space technology and artificial intelligence to safeguard Government land in the Capital city and ensure planned development.E-Pravesh is a web and mobile based application with facial recognition technology to ease and authenticate entry of visitors to Lok Seva, Rajiv Bhavan and Kharavela Bhavan.

4.Cabinet nod for Rs 1 lakh crore agri-infra fund

The government approved setting up an agri-infra fund with a corpus of Rs 1 lakh crore to provide financial support to agri-entrepreneurs, start-ups, agri-tech players and farmer groups for infrastructure and logistics facilities.The agri-infra fund was part of the over Rs 20 lakh crore stimulus package announced in response to the COVID-19 crisis.The new agri-infra fund, the duration of which will be 10 years till 2029, aims to provide medium-to-long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and financial support.Under this, about Rs 1 lakh crore will be provided by banks and financial institutions as loans to primary agri credit societies, farmer groups, farmer producer organisations (FPOs), agri-entrepreneurs, start-ups and agri-tech players.

5.MoU Signed By CBDT And SEBI For Data Exchange

A formal Memorandum of Understanding (MoU) was signed between the Central Board of Direct Taxes (CBDT) and the Securities and Exchange Board of India (SEBI) for data exchange between the two organizations.The MoU will facilitate the sharing of data and information between SEBI and CBDT on an automatic and regular basis.In addition to regular exchange of data, SEBI and CBDT will also exchange with each other, on request and suo moto basis, any information available in their respective databases, for the purpose of carrying out their functions under various laws.The MoU comes into force from the date it was signed and is an ongoing initiative of CBDT and SEBI, who are already collaborating through various existing mechanisms.The MoU marks the beginning of a new era of cooperation and synergy between SEBI and CBDT.

6.BDL signs licence agreement with DRDO for Akash Missile Weapon System

Bharat Dynamics Limited (BDL) has signed License Agreement and Transfer of Technology (LAToT) with DRDO (DRDL) for Akash Missile Weapon System (Indian Army Variant).BDL is the Lead Integrator for Akash Weapon System (Indian Army).Akash Missile is the first medium-range Surface to Air missile produced in India which can engage multiple targets from multiple directions.The missile flies at a speed of nearly 860 meters per second at a maximum altitude of 18 km.The Akash missile was designed and developed by DRDO and manufactured by BDL.

7.SBM Bank taps Mastercard SendTM for faster, smarter payments solution for customers across India

SBM Bank (India) Ltd and Mastercard announced a partnership to revolutionize domestic and cross-border payments and remittances through Mastercard SendTM.SBM Bank India customers will be able to make real-time domestic business-to-consumer (B2C) transfers quickly and efficiently using Mastercard SendTM.The Bank has been leading the collaboration narrative to access the best-in-class solutions with its switching partner, YAP.YAP is an API (application programme interface) infrastructure company.SBM Bank India is the first bank to receive a universal banking licence from the RBI to set up and operate as a scheduled commercial bank through the wholly-owned subsidiary mode.

8.MCA extends term of Justice Bansi Lal Bhat as acting chairperson NCLAT by three months

The National Company Law Appellate Tribunal (NCLAT) has further extended the office term of Justice (Retd.) Shri Bansi Lal Bhat, Member (Judicial) as officiating Chairperson for a period of three months.The National Company Law Appellate Tribunal (NCLAT) is a tribunal which was formed by the Central Government of India under Section 410 of the Companies Act, 2013.The tribunal is responsible for hearing appeals from the orders of National Company Law Tribunal(s) (NCLT), starting on 1 June 2016.

9.Kannada TV actor Susheel Gowda passes away after committing suicide

Kannada TV actor, Susheel Gowda passed away after committing suicide.Susheel Gowda, who is over 30 years of age, had acted in the romantic serial Anthapura.Apart from acting, Susheel was also a fitness trainer. Susheel was looking to establish himself in the Kannada film industry.He has played the role of a cop in the upcoming movie Salaga which has Duniya Vijay in the lead role.

10.Veteran actor Jagdeep, Sholay’s Soorma Bhopali, dies at 81

Veteran Bollywood actor Jagdeep, known for his work in films such as Sholay, Andaz Apna Apna and Purana Mandir, has died.In his first film, BR Chopra’s Afsana, he was a face in the crowd who later got a speaking part because he could say the dialogues in chaste Urdu.In 1988, Jagdeep also directed the film Soorma Bhopali based on his character from Sholay. In a career spanning over six decades, he acted in over 400 films.