 India’s 3rd largest lender, Bank of Baroda will completely digitize its lending operations including home, agriculture, Micro, Small and Medium Enterprises(MSME), personal and auto loans. The bank has recently completed its merger with Vijaya Bank and Dena Bank. |
|
About Bank of Baroda Digital Lending:
|
 ICICI Home Finance Company Limited (HFC) has launched “SARAL” scheme for a special affordable house loan for urban and rural areas. The beneficiaries are women, lower, middle-income customers and economically weaker sections, with a maximum household income up to Rs 6 lakh per annum.
|
 Union Health Minister, Harsh Vardhan has launched India’s first mobile lab for COVID-19 testing. The Infectious Disease Diag Lab (I-Lab) – Rapid Response Mobile Laboratory has been developed with the support from the Department of Biotechnology, Ministry of Science and Technology and Andhra Pradesh Med-tech Zone (AMTZ) under DBT-AMTZ COMManD (COVID Medtech Manufacturing Development) Consortia. |
|
 Turkish’s diplomat Volkan Bozkir has been elected president of the 75th session of the UN General Assembly. The 75th session of the UN General Assembly begins in September 2020. Bozkir won the unanimous support of the 178 UN members. He will take over from Tijjani Muhammad-Bande, the present General Assembly president. A General Assembly president has a one-year term. |
 India has been elected as the non-permanent member of the United Nations Security Council. India has won the election for a two-year term after winning 184 votes in the 193-member General Assembly. India won the non-permanent seat from the Asia-Pacific category for the 2021-22 term which will begin on 1st January 2021. Earlier India has been elected as a non-permanent member of the Council for the following years: 1950-1951, 1967-1968, 1972-1973, 1977-1978, 1984-1985, 1991-1992 and 2011-2012. Ireland, Mexico and Norway also won the Security Council elections along with India. The United Nations high-table comprises of five permanent members and 10 non-permanent members. |
 Fitch Ratings has retained India’s sovereign rating at the lowest investment grade of “BBB-“, while the rating agency has revised downward its rating outlook for India to negative from stable. Fitch has cited increasing risk to the India’s growth and debt outlook, as a reason for the above ratings. Fitch Ratings stated that the COVID-19 pandemic has significantly weakened India’s growth outlook for fiscal year 2021, simultaneously exposing the challenges associated with a high public-debt burden. Although, the rating agency expects India’s economic activity to contract by 5% in the fiscal year 2021 before rebounding by 9.5% in fiscal year 2022. |
 HDFC ERGO General insurance firm has partnered with UK based tech firm TropoGo Limited to launch India’s 1st ‘Pay as you Fly’ insurance for drone-owners in India. This policy, which can be offered on-demand to commercial drone owners and operators, give life assurance for Third Party Liability Claims. This insurance policy protects property damage and bodily injuries that maybe happened while conducting activities like survey, mapping, monitoring, disaster relief initiatives, civil administration services, use during festivals & events, property management and travel & tourism purposes among others. Members of this policy can claim an insurance cover of up to Rs 10 lakh on TropoGo mobile app & they will choose 4 hours, one-day, or a one-month cover to insure themselves against third-party liabilities. |
 The Asian Development Bank has projected Indian economy to contract by 4% in Fiscal Year 2021. Indian economy has been projected to contract, as businesses came to a standstill for more than two months due to the nationwide lockdown implemented to contain the COVID-19. The Asian Development Bank expects India’s economy to recover in Fiscal Year 2022 with growth rate of 5%, as economic activity will get to its normal state gradually. |
 World Economic Forum (WEF) has announced its 2020 cohort of Technology Pioneers. WEF has unveiled 100 new tech firms awardees which are leaders in carbon capture, alternative meat and circular economies, while some of them aims to address food security, financial access etc. The 20th cohort of Technology Pioneers comprised 2 Indian firms namely: ZestMoney and Stellapps. These firms which featured in the list, will be invited to participate at World Economic Forum workshops, events as well as high-level discussions throughout their two years in the community. ZestMoney is an Indian Artificial intelligence-based digital lending platform which disburses affordable credit to millions. Stellapps is India’s data-led, internet of things-based startup platform which is enagaged in digitization of the dairy supply chain. The WEF’s Technology Pioneer community was launched in 2000. It comprises of early to growth-stage companies from around the world. These companies are generally involved in the design, development and deployment of new technologies and innovations, and poised to make a significant impact on business as well as society. |
 “Garib Kalyan Rojgar Abhiyaan” will be launched by the Government of India from Village Telihar, Block Beldaur of Khagaria District of Bihar. It is a massive rural public works scheme that will empower and offer livelihood opportunities to the returnee migrant workers as well as rural citizens. The programme will be joined by the villages across 116 districts in the six States through the Common Service Centres and Krishi Vigyan Kendras. The six states are: Uttar Pradesh, Madhya Pradesh, Rajasthan, Odisha, Jharkhand and Bihar. |
| “Garib Kalyan Rojgar Abhiyaan” will be 125 days long campaign and work in mission mode. It will be a coordinated effort between 12 different Ministries/Departments such as Rural Development, Panchayati Raj, Environment, Railways, Petroleum & Natural Gas, Road Transport & Highways, Mines, Drinking Water & Sanitation, Telecom, Agriculture, New & Renewable Energy, and Border Roads. The campaign will involve focused implementation of 25 different types of works which will provide employment to the migrant workers along with creation of infrastructure in the rural regions of the country, with a resource envelope of Rs 50,000 crore. |
You need to login to perform this action.
You will be redirected in
3 sec
