Summary

This document contains a summary of business and financial events occurring during the first week of July. It details developments in banking, finance, technology, and international relations. Highlights include economic growth indicators and infrastructure projects.

Full Transcript

1.Basic service demat account limit is increased from 2 lakhs to 10 lakhs. AMC charges are not applicable for BSDA. 2. Bank of India has won Atal pension yojana champion award. 3. IMF artificial intelligence index India achieve 72 ranks. Singapore achieves top rank. 4. Rabindranath Tagore is incl...

1.Basic service demat account limit is increased from 2 lakhs to 10 lakhs. AMC charges are not applicable for BSDA. 2. Bank of India has won Atal pension yojana champion award. 3. IMF artificial intelligence index India achieve 72 ranks. Singapore achieves top rank. 4. Rabindranath Tagore is included among the 24 most famous poet of the world by Turkmenistan. 5. Rashtriya Swayamsevak chief Mohan Bhagwat released the book ‘Swar swamini Asha’. Asha Bhosle 6. SBI launches MSME SAHAJ, a web based digital business loan solution for MSME. Customers can avail finance against their GST invoice up to 1 lakh within 15mins. 7. World bank Sanctions $1.5 Billion Loan for India's Green Hydrogen Initiative. (Low-carbon energy development.) 8. In a first for the Indian Railways, the Central Railway (CR) has installed a floating solar power plant of 10MWp capacity in the Igatpuri Lake. Igatpuri Lake is located in Maharashtra. 9. Dr Jitendra Singh, Ministry of Science and Technology, Ministry of Earth Sciences & Department of Space, launched two advanced Geoportals – ‘Bhuvan Panchayat for rural land records and ‘National Database for Emergency Management for disaster management. 10. MoHUA through Swachh Bharat Mission-Urban 2.0 introduces the ‘Safai Apnao, Bimaari Bhagao’ (SABB) initiative for clean and healthy cities. 11. SEBI has revised the eligibility criteria for entry and exit of stocks in the derivatives segment of exchanges. Eligibility criteria for exit will be applicable to only those stocks that have been in the derivative segment for minimum 6 months. 12. The Indian Navy bid farewell to the UH-3H helicopter after 17 years of service. The UH-3H helicopter will be replaced by the Sea King 42C helicopter. 13. Bandhan Bank launched a facility for online collection of direct taxes, enabling its customers and others to pay taxes seamlessly across India. 14. The Mumbai Metropolitan Region Development Authority (MMRDA) has signed an agreement with German bank KfW to provide financial support of over Rs 850 crore for urban infrastructure projects. 1. Ravi Agarwal appointed as chairman of CBDT. 2. RBI + bank of international settlement BIS + Central bank of 4 ASEAN countries (Malaysia, Philippines, Singapore and Thailand.) is collaborating on project Nexus, which enables fast and efficient cross boarder payment. It will go live by 2026. 3. Assam government has introduced first ever witness protection scheme. 4. the Indian Army recently got its first 4G mobile base station made in India. It was built by Signaltron in Bangalore. 5. ISRO's commercial arm Newspace India limited said its latest rocket, the Small Satellite Launch Vehicle (SSLV), will make its first dedicated commercial launch when it puts into orbit the 'Optimus satellite' - built by Australia-based Space Machines Company. 6. Hungary become the president of European council for 6 months. 7. India Thailand military exercise Maitri started in Thailand. 8. Indian Army gets most powerful non-nuclear explosive ‘SEBEX 2’. It is developed by economic explosive limited; tested by Indian navy. 9. South Asia’s largest flight training school is setting up in Amravati, MH by Air India at 200 crores. 10. ICICI bank has launched Student Sapphiro Forex card, a prepaid card for student going for study aboard. 11. The Ministry of Statistics and Programme Implementation (MoSPI) has launched the eSankhyiki portal. 12. Telecommunication Mobile Number Portability Regulations, 2024 by the Telecom Regulatory Authority of India (TRAI), 7 days waiting period required after a SIM swap or replacement for a mobile number to become eligible for porting. 13. MoSPI constituted a 26-member Advisory Committee on National Accounts Statistics (ACNAS) chaired by Biswanath Goldar to revise the base year for Gross Domestic Product (GDP) data. Current base year 2011-12. 14. World Bank’s ‘Migration and Development Brief data, India received USD 120 billion in remittances in 2023 followed by Mexico and China. 15. Japan has launched earth observatory satellite DAICHI 4 with its H3 rocket. 16. BlinkX, the digital stockbroking division of JM Financial, has introduced the BlinkX Gen AI Lab, a first for the Indian stock broking market. 1. DBS bank become first bank to partnered with Receivable Exchange of India limited by RBI. DBS bank also recognized as Best Employer award 2023 by KIncentric. 2. BPCL become principal sponsor of Indian team in Olympics 2024. Other principal partner includes Reliance foundations, Adani group and Aditya Birla Capital. 3. Australian MoU with NewSpace India Limited, ISRO under the space MAITRI mission. 4. India + magnolia= Nomadic elephant. 5. South African scientists make rhino horns radioactive under ‘Rhizotope Project’ 6. ALOS-4; also known as DAICHI-4 7. UPI now available in UAE. 8.SEBI has allowed up to 100% aggregate contribution by NRIs in Foreign Portfolio Investors (FPIs) that are based out of International Financial Services Centre (IFSC). GIFT International Financial Services Centre. The move is expected to enhance investment by FPIs in India. 9. Tata AIG General Insurance has issued India's largest Performance Surety Bond, valued at over Rs 100 crores in Mumbai, Maharashtra, India. 10. India becomes the 1st country to prepare a comprehensive checklist of its entire fauna, covering 1,04,561 species. 1. DRDO test fires India’s first anti-radiation missile Rudram 1. 2. NITI aayog launches Samporntaa Abhiyan to drive towards holistic development. 3. FATF selected Muthoot finance for mutual evaluation report. 4. smart cities mission is extended till march 2025. Launched 2015 5. Indiabull housing finance name changed to Samman capital. 6. The Reserve Bank of India (RBI) announced that 9 non-banking financial companies (NBFCs), including Ujjivan Financial Services, have surrendered their certificates of registration (CoR). 1. SEBI has reduced the face value of debt securities from 1 lakh to 10000 to increase retail participation. 2. Madhya Pradesh and Rajasthan government has signed MoU for joint river interlinking project. Parbati-Kalisindh- Chambal PKC. Project cost 72000 crores. PKC to be linked with ERCP east Rajasthan canal project. 13 districts will be benefited from this project. Center will contribute 90% fund. 3. L&T metro rail Hyderabad receives Golden peacock award for safety excellence. 4. SRK will be awarded with Locarno film festival award. Switzerland. 5. Labour Party’s Keir Starmer to become next PM of UK. 6. Belarus become the 10th member of SCO. 7. Japanese international corporation agency JICA to provide 5th and final trench of 4650 crore loan for Mumbai metro line 3. 8. Indo Russia rifles private limited deliver 35000 Kalashnikov Ak-203 rifles. 9. Government make ISI mark mandatory for Aluminum and steel utensils. 10. Baja auto unveils worlds first CNG bike freedom. 11. NABARD has signed a MoU with Online PSB Loans Limited (OPL) to digitalize the enrolment and claim settlement processes under the Jan Suraksha Schemes (JSS) for all 43 Regional Rural Banks (RRBs). 12.(USA)-based Space Exploration and Research Agency (SERA) + Blue Origin announced India as a “Partner Nation” in their human spaceflight programme for citizens from countries who have sent a few or no astronauts to space. Under this strategic partnership, SERA will offer citizens from across the world 6 seats on a future mission of New Shepard, Blue Origin’s reusable suborbital rocket. Nigeria, and the Maldives will each be allotted a seat on the mission of Blue Origin. New Shephard rocket will fly the selected astronauts on an 11-minute journey past the Kármán line, the internationally recognised boundary line of space i.e. 62 miles or 100 Kilometers (km) above the Earth. 13. The Indian Army has inducted its first-ever Indigenous chip-based 4G mobile base station, called Sahyadri Long-Term Evolution (LTE) base stations, procured from Signaltron Systems Pvt Ltd.

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