AT1 bonds: These are a type of unsecured, perpetual bonds that banks issue to improve their core capital base. The money raised through these bonds is kept aside as a shock absorber by the bank. They have a call option, which can be used by the banks to buy these bonds back from investors. TheseRead more
BHARAT campaign: Ministry of Agriculture & Farmers Welfare launched a new campaign for banks under the Agriculture Infrastructure Fund titled BHARAT (Banks Heralding Accelerated Rural & Agriculture Transformation). It is a one-month-long Campaign with a target of Rs 7200 crore. It aims to get active involvement and support of members of commercial Banks in theRead more
G20 Conference on Crime and Security: The inaugural session of the G20 conference on ‘Crime and Security in the age of NFTs, AI and Metaverse’, was held in Gurugram, India. This summit is a new and unique initiative of the G-20 Presidency and is the first conference on cyber security in the G-20. The metaverseRead more
SAGAR SAMPARK: It is an indigenous Differential Global Navigation Satellite System (DGNSS). The Differential Global Navigation Satellite System is a terrestrial-based enhancement system that corrects the errors and inaccuracies in the Global Navigation Satellite System (GNSS) allowing for more accurate positioning information. It is now able to transmit corrections of GPS and GLONASS. Sagar SamparkRead more
Global Multidimensional Poverty Index: The Global Multidimensional Poverty Index (MPI) report highlighted that a total of 415 million people moved out of poverty in India within just 15 years from 2005/2006 to 2019/2021. It said that 25 countries, including India, successfully halved their global MPI values within 15 years, showing that rapid progress is attainable.Read more
50th GST Meeting and its Outcome: Levy 28% GST on online gaming, horse racing, and casinos on full value: The GST council agreed that there should be no distinction between ‘game of skill and game of chance.’ The council announced that the GST on restaurants inside Cineplex attracted 5% GST against 18% earlier. Before theRead more
Kargil Vijay Diwas: It is celebrated on July 26 every year. The day commemorates the victory of the Indian armed forces in the Kargil War fought against Pakistan. The day is observed to pay tribute to and honour the bravery and sacrifice of the soldiers in the war of 1999. The year 2023 marks theRead more
DART Mission: NASA’s DART mission was a spacecraft designed to test a method of deflecting an asteroid for planetary defence, using the “kinetic impactor” technique (in simplest terms means smashing a thing into another thing).DART was the first-ever space mission to demonstrate asteroid deflection by kinetic impactor. The target of the spacecraft was a 160-meter-wideRead more
India Climate Energy Dashboard (ICED) 3.0: NITI Aayog recently launched India Climate Energy Dashboard (ICED) 3.0. It is the country’s one-stop platform for near real-time data on the energy sector, climate, and related economic datasets based on government-published sources. It was developed by NITI Aayog in collaboration with the energy and climate think-tank Vasudha Foundation.Read more
STAR-C Initiative: India is considering expanding its Solar Technology and Application Resource Centres (STAR -C) initiative to a number of Pacific Island countries. The programme aims to boost solar power ecosystems in the poorest countries. The initiative is run by the International Solar Alliance in partnership with the United Nations Industrial Development Organisation (UNIDO). ItRead more
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