Karnataka Bank launches KBL Micro Mitra for micro enterprises

1.India pledges $10 million to UNRWA over next two years

India pledged USD 10 million to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA).It will also donate life-saving drugs to Palestine to help them in combating the COVID-19 pandemic.The contribution of USD 10 million would be an additional amount over and above the USD 5 million contribution announced for year 2020.The amount would be contributed over the coming two years.

2.HRD Minister Ramesh Pokhriyal ‘Nishank’ virtually launches ‘YUKTI 2.0’

Union Minister of Human Resource Development, Shri Ramesh Pokhriyal ‘Nishank’, launched an initiative ‘YUKTI 2.0’ to help systematically assimilate technologies having commercial potential and information related to incubated startups in our higher education institutions.Earlier, the Minister had launched the YUKTI (Young India combating COVID with Knowledge, Technology and Innovation) web portal on 11 April, 2020/ Ministry of HRD prepared the portal in view of Coronavirus.The portal intends to cover the different dimensions of COVID-19 challenges in a very holistic and comprehensive way.Through this portal, the Ministry of Human Resource Development will endeavor to ensure that students, teachers and researchers in higher educational institutions are getting appropriate support to meet the requirements needed to advance their technologies and innovations.

3.Commerce and Industry Ministry hailed for ‘country of origin’ rule

“Information about Country of Origin” has been mandated for the sellers by the Government e-Marketplace (GeM), a Special Purpose Vehicle under the Ministry of Commerce and Industry.The sellers have been advised to mention “Information about Country of Origin” while registering all new products on GeM.While those sellers, who had already registered their products before the launch of this new feature on GeM, would be reminded regularly to update the information about Country of Origin.If they fail to update the same, their products shall be removed from GeM.

4.Karnataka Bank launches KBL Micro Mitra for micro enterprises

Karnataka Bank has launched a new product KBL Micro Mitra.Under this a financial assistance up to Rs.10 lakhs can be provided to the Micro manufacturing and service enterprises either for working capital or for investment purposes.The facility comes with a simplified procedure and competitive rate of interest.KBL Micro Mitra would be available for the Micro entrepreneurs across India through all the branches of Karnataka Bank.

5.Moody’s projects India GDP to shrink 3.1% in 2020

Moody’s Investors Service projected the Indian economy to shrink 3.1 per cent in 2020. It also said that the clashes with China on the border also suggest rising geopolitical risks in the Asian region.While it pegged India’s annual growth at 0.2 per cent in April, the forecast has been sharply revised after taking into consideration the disruptions due to the coronavirus pandemic.However, Moody’s expects the economy to register 6.9 per cent growth in 2021.Moody’s has forecast that China would be the only G-20 country to post growth this year.The expectation is that China would grow 1 per cent in 2020, followed by a strong rebound of 7.1 per cent in 2021.

6.India retains its position as 3rd-largest economy on PPP basis for 2017

India has retained and consolidated its position as the third-largest economy after China and the US in terms of purchasing power parity (PPP) for 2017.PPP of the rupee per dollar at the gross domestic product (GDP) level rose to 20.65 in 2017 from 15.55 in 2011, while the exchange rate of a dollar to a rupee rose to 65.12 from 46.67 during the period.The World Bank has released new PPPs for the reference year 2017, under the International Comparison Program (ICP), that adjust for differences in the cost of living across economies of the world.Globally, 176 economies participated in the 2017 cycle of ICP.

7.COVID-19 to dent India’s FY21 per capita income by 5.4%: SBI report

According to the latest report by the economic wing of State Bank of India (SBI), COVID-19 pandemic is likely to bring down India’s per capita income (PCI) by 5.4 per cent in the financial year 2020-21 (FY21).It will be decreased to Rs 1.43 lakh from Rs 1.52 lakh in FY20.This decline in PCI is higher than the nominal GDP decline of 3.8 per cent.Among states, Delhi, Chandigarh, and Gujarat will be the worst hit with PCI falling 15.4 per cent, 13.9 percent and 11.6 per cent, respectively in FY21.At the other end of the spectrum are Arunachal Pradesh, Goa, and Manipur that are likely to witness the least drop in PCI during this period.

8.IFTAS announces the appointment of Shri T. Rabi Sankar as chairman

Indian Financial Technology & Allied Services (IFTAS) has announced the appointment of T Rabi Sankar as the Chairman of the organization.IFTAS is a wholly-owned subsidiary of Reserve Bank of India.T Rabi Sankar, currently serving as Executive Director, Reserve Bank of India for Payment Systems, Information Technology, Risk Management and Fintech has taken over concurrent charge, ex officio, as the Chairman of IFTAS.Agency also appoints Dr N Rajendran as the Chief Executive Officer (CEO) of the organization.

9.Wasim Jaffer appointed head coach of Uttarakhand cricket team

Former India opener Wasim Jaffer has been appointed head coach of the Uttarakhand cricket team for the upcoming domestic season.The highest run-getter in Ranji Trophy, Jaffer had announced retirement in March this year after playing for over two decades, primarily for domestic giants Mumbai and Vidarbha.This will be his first stint as a head coach with a team.Uttarakhand had reached the quarterfinals in their debut Ranji Trophy season in 2018-19, where they lost to Vidarbha, by an innings and 115 runs.

10.Veteran journalist, former MP Vishwa Mohan Gupta passes away

Former MP and veteran journalist Vishwa Bandhu Gupta died.Gupta was associated with the Congress party during the 1980s and he was a Member of Parliament from April 1984 to 1990, representing the state of Delhi in the Rajya Sabha.Gupta was Chairman and Editor-in-chief of the Tej-Bandhu group of publications.He was one of the founding members of the Press Club of India and the President of the All India Newspaper Editors Conference.

11.Former India shooter Pournima Zanane passes away after two-year battle with cancer

Former India shooter Pournima Zanane has passed away aged 42.An International Shooting Sport Federation-licenced coach, Zanane had been suffering from cancer for the past two years and also underwent extensive treatment for the same.She has represented India at multiple ISSF World Cups, Asian Championships, Commonwealth Championships, among others.Zanane, who was a national record holder in 10m air rifle event, took to coaching and was honoured with the Shiv Chhatrapati Sports award by the Maharashtra government.

12.Former Karnataka basketball player K Raghunath passes away

Former Karnataka basketball star K Raghunath passed away.Fondly referred to as ‘Pappachi’, Raghunath was one of the founding members of the still-popular Beagles Basketball Club.Raghunath’s tryst with basketball began in 1958, and before long he was winning accolades for the Malleswaram High School and subsequently National College and Government Science College (B.Sc).The shooter, who was diagnosed with cancer during the Nationals in Kerala two years ago, started her career in Mumbai before shifting base to Pune.