National News
World Bank Approves $1.5 Billion Loan to Support India’s Green Hydrogen Push
The World Bank has approved a second round of $1.5 billion in financing to help India accelerate its development of low-carbon energy. This funding aims to promote the market for green hydrogen, electrolysers, and increased renewable energy penetration. The initiative aligns with India’s National Green Hydrogen Mission and energy transition targets, including achieving 500 GW of installed renewable energy capacity by 2030 and reaching net zero by 2070.
Bharatiya Nyaya Sanhita 2023, Check Complete Details
The three New Criminal Laws– Bharatiya Nyaya Sanhita, 2023, Bharatiya Nagarik Suraksha Sanhita, 2023 and Bharatiya Sakshya Adhiniyam, 2023, will come into force July 1, 2024. The government of India has held regular meetings with States and Union Territories and they are fully geared up in terms of technology, capacity building and awareness generation to implement the new Criminal Laws.
Appointments News
Ravi Agrawal Appointed CBDT Chief, Succeeds Nitin Gupta
Ravi Agrawal, a 1988-batch IRS officer, has been appointed as the new chairman of the Central Board of Direct Taxes (CBDT). He succeeds Nitin Gupta, whose tenure ended on June 30, 2024. Agrawal’s appointment extends till June 2025, with a reappointment on a contract basis to ensure continuity in CBDT’s policy framework.
Banking News
Union Bank of India Introduces “Union Premier” Branches for Rural and Semi-Urban Markets
Union Bank of India has launched “Union Premier” branches tailored for high-value customers in rural and semi-urban (RUSU) markets. These branches are designed to offer personalized banking services and a comprehensive range of products under one roof.
Business News
RBI Ups Financial Accommodation for States/UTs by 28% to ₹60,118 Crore
The Reserve Bank of India (RBI) has increased the aggregate Ways and Means Advances (WMA) limit for State governments and Union Territories (UTs) by 28%, from ₹47,010 crore to ₹60,118 crore, effective from July 1, 2024. This revision, based on recommendations by a Group of select State Finance Secretaries and considering recent expenditure data, aims to help States and UTs manage temporary mismatches in their cash flow.
Appointments News
CS Setty Gets FSIB Approval To Head SBI As Next Chairman
Financial Services Institution Bureau (FSIB) has selected Challa Sreenivasulu Setty as the next chairman of State Bank of India (SBI). Ashwini Tiwari and Vinay Tonse were two other contenders to the post. Setty will succeed the current chairman, Dinesh Khara, when he turns 63, the upper age limit for the position of SBI Chairman. His term is scheduled to end in August 2024.
Ranks & Reports News
Tata Group is India’s Most Valuable Brand: Report
Tata Group has maintained its position as India’s most valuable brand with a value of US$ 28.6 billion, marking a 9% increase from last year. Infosys ranks second, and HDFC Group has surged to third place following its merger with HDFC Ltd. Tata Group is on the verge of becoming the first Indian brand to reach the US$ 30 billion mark. Taj remains India’s strongest brand, with a Brand Strength Index (BSI) score of 92.9 out of 100 and an AAA+ rating. The telecom sector experienced a 61% growth in brand value, driven by Jio, Airtel, and Vi, while the banking sector reported a 26% increase, with SBI as India’s second most valuable bank.
Schemes
MoSPI Launches eSankhyiki Portal for Enhanced Data Access
The Ministry of Statistics and Programme Implementation (MoSPI) has introduced the eSankhyiki portal to revolutionize data accessibility and user experience. This initiative aims to centralize and streamline access to key national statistical data, supporting planners, policymakers, researchers, and the public.
Sports News
Ravindra Jadeja Retires From T20 Internationals
Star India all-rounder Ravindra Jadeja has announced his decision to retire from T20 internationals following India’s T20 World Cup 2024 triumph. Ravindra Jadeja has called it quits from T20 internationals, bowing out on a high with the T20 World Cup 2024 trophy.
Important Days
GST Day 2024: Celebrating India’s Unified Tax System
Goods and Services Tax (GST) Day is an important annual event in India’s economic calendar. This day commemorates the implementation of a transformative tax system that revolutionized the country’s fiscal landscape. As we approach GST Day 2024, let’s explore its history, significance, and impact on India’s economy.
National Chartered Accountant (CA) Day 2024
National Chartered Accountant Day, also known as CA Day, is an annual celebration in India that recognizes the crucial role of chartered accountants in the country’s economic landscape. As we approach the 2024 celebration, let’s delve into the history, significance, and impact of this important day.
National Doctor’s Day 2024, Date, History and Significance
National Doctor’s Day, observed on 1st July every year, is an annual celebration that recognizes the invaluable contributions of medical professionals to our society. As we approach the 2024 observance, it’s important to reflect on the significance of this day and the impact doctors have on our lives.
