In this article, we will discuss all the important current affairs of 8th July 2021 in detail.
1. The government has established a 25-member development committee for the cement industry.
- Under the leadership of Dalmia Bharat Group CMD Puneet Dalmia, the government has established a 25-member development council for the cement sector, which would recommend measures to decrease waste, increase output, enhance quality, lower costs, and encourage product standardisation.
- The council would also aim to standardise accounting and costing systems and practises, as well as promote the adoption of labour productivity-boosting initiatives, such as measures to ensure safer and better working conditions.
2. The Department of Public Enterprises has been reassigned to the Ministry of Finance.
- The Department of Public Enterprises (DPE) and the Finance Ministry have amalgamated to offer the government more control over state-owned businesses and to enable its ambitious privatisation drive.
- The Finance Ministry will now have six departments, while the Ministry of Heavy Industries and Public Enterprises, which was previously known as the Ministry of Heavy Industries and Public Enterprises, will now be known as the Ministry of Heavy Industries.
3. Assam Chief Minister Himanta Biswa Sarma ceremoniously launched the Assam Tea Industries Special Incentive Scheme (ATISIS) to encourage the production of conventional and specialty tea.
- ATISIS aims to increase orthodox or specialty tea output in the state by providing incentives to tea gardens.
4. DPIIT appoints a nine-member panel to investigate digital monopolies
- The Union Commerce Ministry has announced the formation of a nine-member advisory committee to address the country’s digital monopolies.
5. In Jaipur, India’s second largest cricket stadium will be built.
- The Rajasthan Cricket Association (RCA) has received a Rs 100 crore grant from the Board of Control for Cricket in India (BCCI) to build India’s second-largest stadium in Jaipur.
- The first phase of the stadium’s development is expected to take 24 to 30 months. The projected stadium will have a seating capacity of 75,000 people.
6. In Africa, the world’s first 3D-printed school opens its doors.
- 14Trees, an African affordable housing venture, has built the world’s first 3D-printed school in Malawi, leveraging technology to address the continent’s school shortfall.
- The design gives children in the region with space that they previously did not have, as well as resources for teaching and learning both inside and outside the classroom.
Banking & Finance News
7. PayU has teamed up with WooCommerce to help small businesses get digital faster
- PayU, India’s online payment solutions provider, has teamed up with WooCommerce, an open-source, configurable e-commerce platform, to provide digital payments infrastructure and end-to-end digitization of business operations to WooCommerce merchants.
- To scale growth and profitability, the alliance will provide merchants with exclusive transaction pricing, no hidden fees, and contactless payment options.
8. Mastercard and Razorpay have launched a recurring payment system.
- Unicorn in the field of finance Mandate HQ, a platform developed by Razorpay and Mastercard, provides a safe and secure recurring payment interface, according to the firms.
- The Reserve Bank of India (RBI) has issued a framework for processing e-mandates on recurring online transactions in order to promote the safe and secure adoption of digital payments.
9. FlexiLoans.com and GooglePay have partnered to give quick loans to SMEs. FlexiLoans.com, a digital lending platform focused on SMEs, has announced a partnership with Google Pay to provide flexible loans to their merchant base.
- The partnership will bridge the credit gap by providing fast loans to small businesses and entrepreneurs in India that are unable to obtain conventional credit.
10. Creditas Solutions and HDFC Bank have teamed up to develop a Digital Self-Service Credit Portal.
- For its loan and credit card customers, HDFC Bank has teamed with Creditas Solutions to provide a guided and customised debt management service.
- Customers can view their credit account information in real time, on any device, and the platform also streamlines and simplifies the payback process, giving them more flexibility to pay when and how they want.
Business & Economy News
11. Tech Mahindra and StaTwig have teamed up to bring ‘VaccineLedger’ to the world.
- Tech Mahindra has teamed up with StaTwig, a Singapore and Hyderabad-based digital supply chain solution provider, to roll out the VaccineLedger vaccine traceability platform globally.
- VaccineLedger is an open source platform that allows for end-to-end traceability of vaccines in the global supply chain at the vial level. It eliminates the need to replace the present system, therefore lowering adoption obstacles.
12. Due to a slower recovery and a weaker banking sector outlook, Fitch has lowered India’s growth projection to 10% from 12.8 percent.
- Fitch Ratings downgraded its growth forecast for India to 10% in the current fiscal year, down from 12.8 percent in March, as the second wave of lockdowns hampered the recovery and harmed banking sector prospects.
- According to the agency, the increased restrictions hindered recovery efforts and gave banks a moderately weaker prognosis for business and income generation in FY22.
13. In May, the fiscal deficit fell to 8.2 percent of the objective for FY22.
- According to official figures issued at the end of May, India’s fiscal deficit was 8.2 percent of the planned estimate for FY22, compared to 59 percent in the same period last year, thanks to higher revenues and lower subsidy payouts.
- According to data, the fiscal deficit in April-May was Rs.1.23 lakh crore.
14. Waze’s crowd-sourced navigation service has a new CEO, Neha Parikh.
- Waze, a crowd-sourced guidance app and a subsidiary of internet giant Google, has hired Neha Parikh, the former Indian-American president of the travel website Hotwire, as its new CEO.
- Neha, 41, a board member of Carvana, an online used car dealership, took over as CEO when Noam Bardin stepped down in November after 12 years at the helm.
15. Nihal Sarin takes first place in the Silver Lake Open chess tournament.
- In Serbia, Nihal Sarin won the Silver Lake Open chess event. With eight points from nine rounds, the third-seeded Indian won the tournament.
- He defeated the host’s Branko Damljanovic in the final round. Indians also took second and third place, with Raunak Sadhwani and Abhimanyu Puranik each scoring seven points.
16. James Anderson has taken his 1,000th first-class wicket.
- During Lancashire’s County Championship match against Kent at Old Trafford Stadium, James Anderson achieved a significant career milestone by taking his 1,000th first-class wicket.
- He became the 14th player and only the fifth seamer in this century to reach 1,000 first-class wickets.
Awards & Honours
17. The Bengaluru International Airport has been inducted into the ACI DG’s Roll of Excellence.
- For regularly providing exceptional customer service, Kempegowda International Airport in Bengaluru has been inducted into the Airports Council International (ACI) director general’s Roll of Excellence for the year 2020.
- The airport has received many ACI Airport Service Quality awards over the last ten years, and it is one of just six airports in the world to get the honour this year.
Books & Authors News
18. Venu Madhav Govindu and Srinath Raghavan’s book “The Fourth Lion: Essays For Gopalkrishna Gandhi”
- Venu Madhav Govindu and Srinath Raghavan recently co-authored a book titled “The Fourth Lion: Essays for Gopalkrishna Gandhi.”
- The book is made up of twenty-six pieces written by people from many walks of life and from all over the world.
19. Swami Prakashananda, the previous head of Varkala’s Sivagiri Mutt, has died.
- Swami Prakashananda, a spiritual teacher and former head of the Varkala Sivagiri Mutt, died at the age of 99.
- Prakashananda is noted for his essential contributions to the expansion of Sivagiri Mutt as a pilgrim centre of international acclaim and a traditional seat of spiritual enlightenment. He is a resourceful administrator and a Vedic scholar par excellence.
20. Virbhadra Singh, the six-time chief minister of Himachal Pradesh, has died.
- Virbhadra Singh, the former chief minister of Himachal Pradesh and a top Congress figure, died in Shimla after a protracted illness. He was 87 years old when he died.
- Mr Singh, a nine-time MLA and five-time MP, served as chief minister of Himachal Pradesh six times.
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