CURRENT AFFAIRS JUNE 2020
Important Current Affairs for IAS, SSC, Bank, RRB and Other Government Exams
WITH SYNOPSIS
www.exambazaar.com/current-affairs Current Affairs Digest Jun 2020 https://www.exambazaar.com/current-affairs
APPOINTMENTS AND RESIGNATIONS
02 Jun Indian-American aerospace expert Vivek Lall appointed General Atomics Chief Executive
02 Jun Pradip Kumar Tripathi takes charge as Steel Secretary
04 Jun Twitter names former Google CFO Pichette as board chairman
04 Jun Ex-MEA spokesperson Raveesh Kumar to be India's next Ambassador to Finland
04 Jun Uday Kotak takes over as CII president
05 Jun India appoints Brajendra Navnit as Ambassador to WTO
09 Jun Volkswagen replaces Herbert Diess as chief executive of the VW brand
11 Jun Vivek Gambhir resigns as Godrej MD
11 Jun U.S. Senate confirms first black Air Force Chief of Staff
13 Jun Biswajit Dasgupta takes charge as Eastern Naval Command (ENC) Chief of Staff
14 Jun Javed Iqbal Wani sworn in as Jammu and Kashmir High Court judge
20 Jun Wirecard CEO Markus Braun quits as search for missing billions hits dead end in Asia
20 Jun Former RBI Governer Urjit Patel appointed as NIPFP Chariman
21 Jun BJP wins lone Rajya Sabha seat from Manipur
23 Jun Standard Chartered appoints Gaurav Maheshwari as CFO - India
26 Jun Cricketer Clare Connor to be first female MCC president in 233 years
28 Jun Vini Mahajan appointed new Punjab Chief Secretary
30 Jun India's Nitin Menon becomes youngest umpire to enter ICC Elite Panel
AWARDS AND RECOGNITIONS
Business and 05 Jun Taj ‘strongest’ Indian brand: Brand Finance Report Economy
06 Jun People Biocon MD Kiran Mazumdar-Shaw named EY World Entrepreneur Of The Year
10 Jun Covid-19 The Ramon Magsaysay awards, Asia's version of Nobel Prize awards cancelled
24 Jun People Rock band Queen honoured with Royal Mail stamps for 50th anniversary
30 Jun People Ex-RBI governor Rangarajan gets lifetime achievement award on Stats Day
IMPORTANT DATES
06 Jun National World Environment Day 2020 on June 5
11 Jun
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11 Jun International Twitter to mark June 19 as a holiday
22 Jun National 6th International Day of Yoga celebrated across the country through Digital Media
Regional and 29 Jun July 1, which is Doctor's Day, to be observed as Sufferance Day State
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1. National
GOVERNMENT POLICIES & SCHEMES
02 Jun Atmanirbhar Bharat: Union Cabinet approves changes in definition of MSMEs MSMEs with an investment of Rs 1 cr and turnover of Rs 5 cr will be classified as micro-units. Exports will not be excluded from the turnover cap.
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According to the new definitions, MSMEs with an investment of Rs 1 cr and turnover of Rs 5 cr will be classified as micro-units. Units with an investment of Rs 10 cr and turnover of Rs 50 cr will be classified as small units while those with an investment of Rs 50 cr and turnover of Rs 250 cr will be classified as medium units. Moreover, exports will not be excluded from the turnover cap. The Cabinet also approved a Rs 50,000 crore equity scheme for MSMEs. As per this scheme, MSMEs can now be listed.
OTHERS
04 Jun India set to re-enter UN Security Council India’s candidature for the lone seat among the five non-permanent members of the Security Council from Asia Pacific had been unanimously endorsed by 55 members of the group last June.
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Canada, Ireland and Norway are vying for two seats in Western Europe and other countries category. Mexico is the only candidate for the one Latin America and Caribbean seat and Kenya and Djibouti will contest the seat available for the African group. The 2021-22 term will be critical for India which has been pushing efforts to reform the Security Council and seek permanent membership of the Council. Support for India has been increasing with the number of countries advocating.
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04 Jun Cabinet go-ahead for MoU with Bhutan on environment,, natural resources The MoU will cover air, waste, chemical management, climate change and other areas and will remain in force for 10 years from the date of signing.
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The MoU, cleared at a meeting chaired by Prime Minister Narendra Modi, “will enable establishment and promotion of closer and long-term cooperation in environmental protection and management of natural resources on the basis of equity, reciprocity and mutual benefits, taking into account the laws and legal provisions in each country. The MoU will cover air, waste, chemical management, climate change and other areas and will remain in force for 10 years from the date of signing.
05 Jun PM Modi pledges USD 15 million to global vaccines alliance GAVI The summit urged nations around the world to pledge funding for vaccinations to save millions of lives and protect the world from future outbreaks of infectious diseases.
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The summit, held virtually given the coronavirus pandemic lockdown around the world, was opened by British Prime Minister Boris Johnson to urge nations around the world to pledge funding for vaccinations to save millions of lives and protect the world from future outbreaks of infectious diseases. Modi was among around 35 heads of state and government participants, including US President Donald Trump, to virtually join the conference aimed at raising USD 7.4 million to immunise further 300 million children in the world's poorest countries by 2025.
05 Jun Centre launches TULIP scheme to provide internship to 25,,000 graduates The Urban Learning Internship Programme scheme is a five-year joint venture between MoHUA and the All India Council for Technical Education.
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He was speaking at the launch of the TULIP (The Urban Learning Internship Programme) portal. The scheme is a five-year joint venture between MoHUA and the All India Council for Technical Education, and the fulfilment of a promise made in the 2020 Budget speech. City administrations can register available opportunities on the portal, ranging from positions in urban planning or water supply and waste management to slum improvement and digital governance.
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06 Jun World Environment Day 2020 on June 5 The day is celebrated by engaging governments, businesses, celebrities and citizens to focus their efforts on a pressing environmental issue.
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The theme of World Environment 2020 is 'celebrating biodiversity a concern that is both urgent and existential. The fact is that the current environmental crisis is a warning that we must heed collectively. We must now fundamentally rethink our relationship with the living world, with natural ecosystems and their biodiversity. With one million species facing extinction, there has never been a more important time to focus on biodiversity. The day will be hosted in Colombia in partnership with Germany.
10 Jun Jyotiraditya Scindia tests positive for COVID-19,, admitted to Max hospital BJP leader Jyotiraditya Scindia has tested positive for COVID-19 and has been admitted to a private hospital here, sources said on Tuesday.
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The BJP leader's mother Madhavi Raje Scindia has also tested positive for the novel coronavirus. Union Minister of State for Commerce and Industry Som Parkash tweeted, "Shri Jyotiraditya Scindia ji and his mother tested positive for #Covid_19. My prayers for the speedy recovery of both. @JM_Scindia @BJP4India." Jyotiraditya Scindia had shown some symptoms of the infection, following which he was brought to the health facility, the sources said.
10 Jun Covid-19: Govt extends validity of motor vehicle documents till Sept 30 The government announced further extension till September 30 for the validity of motor vehicle documents, including driving license and vehicle fitness, in view of Covid-19 pandemic.
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Earlier, the Centre through an advisory on March 30 announced the extension of the validity of fitness, permit (all types), driving license, registration, or any other concerned document till June 30. In order to facilitate citizens during the period and conditions for prevention for Covid-19, the ministry had also issued a gazette notification on May 21, relaxing the fees validity and /or additional fee under the Central Motor Vehicles Rules, 1989, till July 31, 2020.
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10 Jun Uttar Pradesh cabinet approves draft Cow-Slaughter Prevention (Amendment)
Ordinance,, 2020 Uttar Pradesh Cabinet today approved Cow-Slaughter Prevention (Amendment) Ordinance, 2020. The amendments are aimed to protect the cow and prevent crimes related to cow slaughter.
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It was necessary that cow slaughter act is made more robust and effective. Considering these points, the Cabinet decided to amend the cow slaughter act, 1955, the cabinet observed during the meeting. The proposed law has also inserted a penal provision of Imprisonment of up to 7 years for physical damage to the cow, and fine up to Rs 3 lakh in cases related to cow slaughter.
13 Jun Reservation isn’’t a fundamental right: Supreme Court The petitioners were asked to approach the Madras High Court. Justice Rao lauded the sentiment behind the move, which had parties of all shades from the state on the same page, as “unusual” for Tamil Nadu but refused to hear them.
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The Supreme Court on Thursday said that reservation of seats to certain communities was not a Fundamental Right and refused to act on a petition filed by all political parties from Tamil Nadu. Wilson insisted non-implementation of such reservations in the state amounted to a violation of Fundamental Rights of its residents, but to no avail. He said that the OBC reservations had been introduced after a long political fight but was being denied to the affected sections in the state.
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13 Jun Supreme Court allows private firms to negotiate with staff on wages for lockdown
period It said that employers whose factories had continued to work during the lockdown, though not to full capacity, may also enter into talks.
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In its order on Friday, the court asked employers to allow their workers to resume their jobs. This is without prejudice to the rights of the employees regarding unpaid wages for these 54 days. Employers and workers could seek the help of Labour Department authorities and trade unions to reach a settlement. The court highlighted that the government, too, had an obligation to ensure conciliation between private employers and their workers.
13 Jun J. Radhakrishnan replaces Beela Rajesh as Health Secy in Tamil Nadu He was co-ordinating COVID-19-related work in Chennai. He will continue to hold additional charge as Secretary-cum-Commissioner, Revenue Administration.
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Mr Radhakrishnan is no stranger to the Health Department. Incidentally, he was Ms Rajesh’s predecessor in the department, serving as Secretary between 2012 and February 2019. Sources contended that the government put Mr Radhakrishnan at the helm so that his experience in disaster management could come in handy to device micro strategies to arrest the spread of COVID-19.
19 Jun Jyotiraditya Scindia,, Digvijaya Singh set to enter Rajya Sabha from Madhya Pradesh Bhopal: BJP candidates Jyotiraditya Scindia and Sumer Singh Solanki, and senior Congress leader Digvijaya Singh on Thursday looked set to sail through on the eve of Rajya Sabha election to three seats in Madhya Pradesh.
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The Congress another nominee Phool Singh Baraiya, a Dalit leader, however, stands a very slim chance of making it to the upper house of Parliament in the election on Friday. The BJP has enough MLAs to get elected its two candidates, whereas the Congress Legislature Party (CLP) has asked 54 of its 92 MLAs to cast their first preference vote for Digvijaya. The former chief minister needs 52 votes to get elected to Rajya Sabha for the second consecutive term.
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21 Jun Lockdown not akin to Emergency,, default bail an indefeasible right: SC The lockdown announced by the government due to Covid-19 is not akin to the proclamation of Emergency, the Supreme Court has said holding that default bail is an indefeasible right on non- submission of charge sheet within the prescribed time.
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The apex court made the observation while setting aside a Madras High Court order denying bail to an accused despite non-filing of charge sheet within the stipulated time. A bench headed by Justice Ashok Bhushan said the view of the high court that restrictions imposed during the lockdown should not give the right to an accused of default bail even though the charge sheet has not been filed within the time prescribed under Section 167(2) of the Code of Criminal Procedure.
21 Jun PM Modi launches ‘‘Garib Kalyan Rojgar Abhiyan’’ Prime Minister Narendra Modi on June 20, 2020, launched an employment scheme for migrant workers, saying that during the coronavirus (COVID-19) lockdown the talent from cities returned to villages and it will now give a boost to development in rural areas.
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Launching the ‘Garib Kalyan Rozgar Abhiyaan’, Mr. Modi said there are some people who might not appreciate efforts of villagers in the fight against coronavirus but he applauds them for their efforts Underlining that migrant workers were always in the Centre’s thoughts during the lockdown, the Prime Minister said it is an endeavor of his government that workers get jobs near their home and help in development of villages.
22 Jun 6th International Day of Yoga celebrated across the country through Digital Media PM Narendra Modi underlined the role of Yoga in strengthening the family bondage. ‘Yoga with Family’ has been made the theme of this year's IDY.
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The coronavirus specifically attacks the respiratory system and 'pranayama' or breathing exercise helps in strengthening the respiratory system the most, Modi said in his message on the sixth International Day of Yoga. The sixth International Day of Yoga was celebrated with great enthusiasm across the country through electronic and digital media In his nearly 15-minute address early Sunday morning, Modi said that due to the coronavirus pandemic, the world is feeling the need for yoga more than ever.
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26 Jun CBSE,, ICSE cancel pending Class X,, Class XII exams Govt and CBSE informed SC that the remaining exams for Classes 10 and 12, scheduled from July 1 to 15, have been cancelled because of the concerns over the safety of students amid the pandemic.
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A proposed notification submitted by the CBSE Controller of Examinations details the scheme. It said the marks of Classes 10 and 12 students who have completed their exams would be based on their performance. For those who have completed exams in more than three subjects, the average marks in their best three performing subjects would be taken for assessing the scores for the cancelled exams. If students have appeared for only three exams, the average of the best two subjects would be taken for assessing the exams missed out in July.
28 Jun Pakistan ready to reopen Kartarpur corridor for Sikh pilgrims India temporarily suspended the pilgrimage and registration for the Kartarpur Sahib Gurdwara in Pakistan on March 16 in view of the coronavirus outbreak.
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India temporarily suspended the pilgrimage and registration for the Kartarpur Sahib Gurdwara in Pakistan on March 16 in view of the coronavirus outbreak. As the religious places are gradually opening up around the world, Pakistan has also made necessary arrangements to reopen Kartarpur Sahib Corridor. This is to ensure adherence to the health guidelines, Pakistan has invited India to work out necessary SOPs (Standard Operating Procedures) for the reopening of the corridor.
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30 Jun Separatist leader Syed Ali Shah Geelani quits Hurriyat Conference Veteran separatist leader Syed Ali Shah Geelani announced his dissociation from the faction of the Hurriyat Conference that he floated in 2003 by enforcing a vertical split in the amalgam.
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Geelani has written a detailed letter to all constituent parts of the amalgam about the reasons behind his decision to leave the Hurriyat Conference, of which he had been nominated as a lifetime chairman, he said. Geelani said the activities of Hurriyat Conference members currently in Pakistan-occupied Kashmir were being investigated by the amalgam for various allegations. The activities of these representatives were limited now to seeking access to assemblies and ministries .
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2. International
MOU'S / AGREEMENTS
17 Jun India pledges to construct sanitation facility at Nepal''s iconic Pashupatinath Temple An MoU was signed between the Indian Embassy, Nepal's Ministry of Federal Affairs and General Administration and the Kathmandu Metropolitan City for the construction of the sanitation facility at this UNESCO World Heritage site.
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The project would be constructed under the Nepal-Bharat Maitri: Development Partnership as a high impact community development scheme by India. Under the initiative, India has pledged to extend financial assistance amounting to NRs 37.23 million (INR 2.33 crore) for the sanitation facility that would be implemented by the Kathmandu Metropolitan City in accordance with the norms laid out by Government of Nepal in 15 months
COMMITTEES & MEETS
03 Jun Donald Trump invites PM Modi to G-7 summit Both discussed host of issues including India-China border row, COVID-19 situation in the two countries and the need for reforms in the World Health Organisation.
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The two leaders also exchanged views on other topical issues, such as the COVID-19 situation in the two countries, the situation on the India-China border, and the need for reforms in the World Health Organisation. Trump had last week claimed he spoke with Indian PM and also sought to mediate on stand off at LAC. India stated that there was neither a phone call nor any willingness to accept mediation.
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08 Jun 18 US,, Europe MPs form alliance aimed at China Inter Parliamentary Alliance on China (IPAC) will adopt a tough stance against the Chinese Communist Party for its moves on Hong Kong and the handling of the Covid outbreak in early stages.
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IPAC wants to focus on safeguarding international rules-based order, upholding human rights, promoting trade fairness, complementary security strategies and protecting national sovereignty and integrity, ET has learnt. These are issues which have been the focus of several countries regarding China over the past few years. The IPAC comprises US Senators Marco Rubio and Robert Menendez, the European Parliament’s Reinhard Bütikofer and Iain Duncan Smith, a member of the British Parliament and former leader of the Conservative Party. Japanese, Australian, Canadian, Norwegian and Swedish MPs are also part of IPAC
OTHERS
03 Jun Austria to redesign Adolf Hitler''s birthplace as police station Austrian authorities have planned to redesign the house where Adolf Hitler was born in 1889 to try to make it unattractive as a pilgrimage site for people who glorify the Nazi dictator.
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The refurbishment is expected to be complete around the end of 2022 and will cost around 5 million euros ($5.6 million). The overhaul follows a years-long back-and-forth over the ownership and future use of the house in Braunau am Inn, on the German border, which was resolved in 2017 when Austria's highest court ruled that the government was within its rights to expropriate the building after its owner refused to sell it. The winning design takes a simple, modernising approach but doesn't tamper with the substance of the original building.
04 Jun Warner Music''s upsized IPO raises $1.93 bn in biggest US listing of 2020 Warner Music Group, the world's third-largest recording label, increased the offering to 77 million class A shares at $25 per share, from 70 million shares, valuing it at $12.75 billion.
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The company increased the offering to 77 million class A shares at $25 per share, from 70 million shares, valuing it at $12.75 billion. The deal marks a further sign of recovery for the US IPO market, which was hampered in March by plunging stock prices caused by the Covid-19 pandemic.
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05 Jun G7 ministers reaffirm bilateral debt relief commitment for poorest nations G7 Finance Ministers have reaffirmed their commitment towards implementing an official bilateral debt relief for the world's poorest countries amid the Covid-19 pandemic.
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Given the importance of private financing for sustainable development, the G7 Ministers welcomed the leadership by the Institute of International Finance (IIF) in coordinating private sector participation, and look forward to the follow- up. The Ministers also said they look to the international financial institutions to step up efforts to provide technical assistance to reduce public debt vulnerabilities, strengthen debt management capacity, and enhance debt reporting practices.
07 Jun Michael Jordan pledges USD 100 million for Black Lives Matter The basketball legend and Jordan Brand will be donating USD 100 million over the next 10 years to organizations dedicated to ensuring racial equality and social justice.
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The announcement came following the 'Black Lives Matter' protests, which are taking place throughout the US after a police officer, identified as Derek Chauvin, pressed his knee into George Floyd's neck, leading to the latter's death. Earlier on Monday, Jordan had made a statement on the killing of black people and George Floyd at the hands of police. The officer Chauvin has reportedly been fired and charged with third-degree murder and second-degree manslaughter. Three other officers have also been fired from the force after a video of Floyd's death emerged.
07 Jun OPEC,, Russia to extend record oil cuts until end of July OPEC+ had initially agreed in April that it would cut supply by 9.7 million barrels per day (bpd) during May-June to prop up prices that collapsed due to the coronavirus crisis.
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According to a draft declaration seen by Reuters as a video conference opened, the group known as OPEC+ was also set to demand countries such as Nigeria and Iraq which exceeded quotas in May and June compensate with extra cuts in July to September. Benchmark Brent crude climbed to a three-month high on Friday above $42 a barrel, after diving below $20 in April. Prices still remain a third lower than at the end of 2019.
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07 Jun Joe Biden formally clinches Democratic nomination in US Presidential elections The former Vice-President has effectively been his party’s leader since his last challenger in the Democratic primary, Bernie Sanders, ended his campaign in April.
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Mr Biden pulled together the 1,991 delegates needed to become the nominee on Friday after seven States and the District of Columbia held presidential primaries on Tuesday. Mr Biden reached the threshold three days after the primaries because several States, overwhelmed by huge increases in mail ballots, took days to tabulate results. Mr Biden now has 1,995 delegates, with contests still to come in eight States and three U.S. territories. “This is a difficult time in America’s history,
08 Jun Pakistan sees highest inflation in the world during 2020: SBP According to State Bank of Pakistan, Pakistan witnessed highest inflation not only in comparison with the developed economies but also with emerging economies.
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Pakistan witnessed the highest inflation not only in comparison with the developed economies but also with emerging economies, the Dawn News reported. The SBP pushed up interest rates to cool down the inflationary pressure during the fiscal year but high rates proved counterproductive as they further increased inflation while the private sector stopped borrowing costly money hampering industrial growth and services.
10 Jun Defacement of Mahatma Gandhi''s statue in US amid George Floyd protests was a
''disgrace'': Trump The defacement of Mahatma Gandhi's statue here was a "disgrace", US President Donald Trump has said, days after it was vandalised by unknown miscreants with graffiti and spray painting during the nationwide protests against the custodial killing of African-American George Floyd.
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The statue, which is across the road from the Indian Embassy, was vandalised on the intervening night of June 2 and 3, prompting the Indian embassy to register a complaint with the local law enforcement agencies. The incident happened during the week of nationwide protests against the custodial killing of Floyd in Minneapolis on May 2 The Indian Embassy here has taken up the matter with the US Department of State for early investigation into the matter, as also with the Metropolitan Police and National Park Service.
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10 Jun France announces $16.9 billion in aid to aviation industry France's government has announced 15 billion euros ($16.9 billion) in aid for the virus-battered aerospace industry, including planemaker Airbus and national airline Air France.
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Finance Minister Bruno Le Maire unveiled the rescue plan for an industry that employs hundreds of thousands of people in France, whose livelihoods have been thrown into uncertainty by travel restrictions prompted by the virus. The money will require the industry to invest more and faster in electric, hydrogen or other lower-emission aircraft. It includes 7 billion euros in loans and loan guarantees that the state had already promised to Air France, whose planes are almost entirely grounded by the virus.
11 Jun Twitter to mark June 19 as a holiday June 19 commemorates the U.S. abolition of slavery by President Abraham Lincoln’s Emancipation Proclamation after the end of the Civil War in the US.
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June 19 commemorates the U.S. abolition of slavery by President Abraham Lincoln’s Emancipation Proclamation, which was belatedly announced in Texas on June 19, 1865, after the end of the Civil War. The move announced on Twitter comes as the death of African American George Floyd in police custody triggered widespread protests against racism and police brutality, while also reigniting the debate on diversity and inclusion among corporate companies.
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13 Jun Indian-American soil scientist Dr Rattan Lal wins prestigious World Food Prize The first recipient of this prestigious award in 1987 was Indian agricultural scientist Dr M S Swaminathan, the father of India #39;s Green Revolution, #39; Dr Lal said.
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Dr Lal, in his career spanning more than five decades and four continents, has promoted innovative soil-saving techniques benefiting the livelihoods of more than 500 million small farmers, improving the food and nutritional security of more than two billion people and saving hundreds of millions of hectares of natural tropical ecosystems. The award is especially important because the first recipient of this prestigious award in 1987 was Indian agricultural scientist Dr M S, Swaminathan.
17 Jun U.S. Supreme Court rules workers cannot be fired for being LGBT+ SC decided gay and transgender people are protected under Title VII of the landmark Civil Rights Act of 1964, which bans workplace discrimination on the basis of sex, race, color, national origin and religion.
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In a 6-3 decision, the nation's top court decided gay and transgender people are protected under Title VII of the landmark Civil Rights Act of 1964, which bans workplace discrimination on the basis of sex, race, colour, national origin and religion. In the ruling, Justice Neil Gorsuch wrote: “In Title VII, Congress adopted broad language making it illegal for an employer to rely on an employee's sex when deciding to fire that employee.
17 Jun Pakistan does not meet minimum requirements of fiscal transparency The US State Department said Pakistan's fiscal transparency would be improved by making complete and timely information on government and government-guaranteed debt obligations publicly available.
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In its annual "2020 Fiscal Transparency Report" issued on Monday, the US State Department said Pakistan was one of the countries that made no significant progress in meeting the minimum requirements of fiscal transparency. Bangladesh is the other country from south Asia to figure in the list that also includes Saudi Arabia, Sudan and China. During the review period, the government of Pakistan made its executive budget proposal, enacted budget, and end- of-year report widely and ..
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17 Jun North Korea blows up inter-Korean liaison office In 2018 , the rival Koreas opened their first liaison office at Kaesong to facilitate better communication and exchanges since their division at the end of the World War II in 1945.
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Pyongyang’s official Korean Central News Agency said the North destroyed the office ‘to correspond with the mindset of the enraged people to surely force human scum and those, who have sheltered the scum, to pay dearly for their crimes. The news agency did not detail how the destruction of the office was carried out, but said it was ‘tragically ruined with a terrific explosion.’ The move sharply raises tensions on the Korean Peninsula amid deadlocked nuclear diplomacy with the United States.
19 Jun India wins 184 out 192 votes to enter UN Security Council India scored a major diplomatic victory to enter the non-permanent category of the UN Security Council when elections were held for the five non-permanent members on Wednesday. India won 184 votes out of 192 valid votes cast.
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Ireland, Mexico and Norway were also elected as non-permanent members of the UN Security Council. India’s term will begin from January 2021. Delhi’s priorities include the effective fight against terror and reformed multilateralism as it aims to boost its status as a major power. The 2021-22 term will be critical for India which has been pushing efforts to reform the Security Council and seek a permanent member of the Council. Support for India has been increasing with a number of countries ..
19 Jun Trump signs into law bill to punish China over crackdown on Uyghur Muslims The Uyghur Human Rights Policy Act, 2020 holds accountable the perpetrators of human rights violations and abuses such as the systematic use of indoctrination camps, forced labor and intrusive surveillance to eradicate the ethnic identity and religious beliefs of Uyghurs and other minorities in China, Trump said.
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The law represents a broad bipartisan commitment by the U.S. government to address one of the worst ongoing human rights crises in the world. In her speech supporting House approval on May 27, House Speaker Nancy Pelosi (D) said, “Beijing's barbarous actions targeting the Uyghur people are an outrage to the collective conscience of the world.” Applauding the bill’s passage, Senator Marco Rubio (R) stated “[f]or far too long, the Chinese Communist Party has tried to systematically wipe out the ethnic and cultural identities of Uyghurs and other Turkic Muslims.
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21 Jun Facebook removes Trump ads with symbols once used by Nazis Facebook has removed a campaign ad by President Donald Trump and Vice President Mike Pence that featured an upside-down red triangle, a symbol once used by Nazis to designate political prisoners, communists and others in concentration camps. The company said in a statement Thursday that the ads violated "our policy against organised hate."
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The Trump campaign spent more than $10,000 on the ads, which began running on Wednesday and targeted men and women of all ages across the US, though primarily in Texas, California, and Florida. The organization said the triangle was not in its database because it is a historical symbol and the database includes only those symbols used by modern-day extremists and white supremacists.
22 Jun Saudi Arabia to launch $4 billion tourism development fund The Tourism Development Fund will launch equity and debt investment vehicles to develop the tourism sector in collaboration with private and investment banks.
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Saudi Arabia plans to start a tourism development fund with an initial capital investment of $4 billion, the ministry of tourism. As per a reported statement by the Minister of Tourism Ahmed Al-Khateeb, the launch of the new fund amid such unprecedented times is a testament to the investor and private-sector confidence in the long-term outlook for tourism in Saudi Arabia. Furthermore, the funding will also be deployed to support mixed-use destinations in a bid to address gaps in the tourism value chain and also to enable technologically-enhanced tourism.
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24 Jun Saudi-led coalition intercepts 3 ballistic missiles launched by Houthis The Saudi Arabian kingdom has fought a years long war since 2015 against the Iranian-backed Houthis, who seized Yemen’s capital in September 2014.
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The kingdom has fought a yearslong war against the Iranian-backed Houthis, who seized Yemen’s capital in September 2014. The rebels did not immediately acknowledge the attack, though their Al-Masirah satellite news channel said their forces would make an announcement later in the day about a broad operation in Saudi Arabia. The rebels have largely ignored a unilateral cease-fire earlier declared by Saudi Arabia, which launched its campaign against them in 2015 to back Yemen’s internationally recognized government.
25 Jun Foundation stone for Islamabad''s first Hindu temple laid The Islamabad Hindu Panchayat has named the temple as Shri Krishna Mandir. The plot for the temple was allotted to the Hindu Panchayat by the Capital Development Authority (CDA) in 2017.
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Addressing the gathering, Malhi said there were several pre-1947 era temple structures in Islamabad and its adjoining areas, including one at Saidpur village and at the hill, point overlooking the Korang river near Rawal lake. The Hindu population in Islamabad has increased significantly in the last two decades and, therefore, the temple was necessary, the Dawn News quoted Malhi as saying. Religious Affairs Minister Pir Noorul Haq Qadri said the government will bear the cost of the construction, currently estimated at Rs 10 crore.
25 Jun Pakistan to remain on ‘‘greylist’’ of terror financing watchdog FATF Islamabad faced setbacks on other fronts, with the United States slamming its record on terrorism, and received a U.S. veto against its joint effort with China to list an Indian engineer on the UN Security Council (UNSC)’s 1267 list.
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The FATF decision came even as the U.S. released its 2019 country report for terrorism, where the State Department said Pakistan had continued to “ serve as a safe haven” for regional terrorist groups. At the FATF plenary, held through videoconferencing, Pakistan was due for a decision on whether it would be kept on the greylist or downgraded to the blacklist for failing to meet the finance watchdog’s 27-point action plan on countering terror financing and anti-money laundering (CFT/AML) measures.
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28 Jun U.S. curbs visas for Chinese officials over Hong Kong freedoms The restrictions apply to current and former Chinese Communist Party officials believed to be responsible for, or complicit in, undermining Hong Kong's high degree of autonomy.
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The move comes ahead of a three-day meeting of China's parliament from Sunday expected to enact new national security legislation for Hong Kong that has alarmed foreign governments and democracy activists. The U.S. visa restrictions apply to "current and former" Chinese Communist Party officials "believed to be responsible for, or complicit in, undermining Hong Kong's high degree of autonomy. President Donald Trump responded to China's plans by saying he was initiating a process to eliminate special economic treatment that has allowed Hong Kong to remain a global financial centre since its handover by Britain in 1997.
28 Jun Trump makes vandalising national monuments punishable offence This comes in the wake of rioters defacing and destroying historical sites, monuments and statues in the country following the brutal custodial death of African-American George Floyd on May 25.
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The order comes in the wake of rioters defacing and destroying historical sites, monuments and statues in the country as violence erupted following the brutal custodial death of African-American George Floyd on May 25. The president has accused radical left of the violence. Under the order, the federal government is directed to prosecute any person or entity that damages or defaces religious property and withhold certain federal support from state and local governments that fail to protect public monuments, memorials and statues from destruction or vandalism.
30 Jun Gunmen attack Pakistan stock exchange in Karachi,, six killed Gunmen armed with grenades attacked the Pakistan Stock Exchange in the city of Karachi in a bid to take hostages. Separatist insurgents from the troubled southwestern province of Balochistan claimed responsibility.
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The militants, who arrived in a car around 10 am, opened indiscriminate fire and lobbed grenades at the main gate of the multi-storey building situated in the city's high-security commercial hub as they tried to storm it. Armed with automatic machine guns, grenades and explosives, they tried to enter into the compound leading to the PSX building through a parking lot but security forces foiled their attack within the compound itself.
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30 Jun Iran issues arrest warrant against Donald Trump Iran has issued an arrest warrant and asked Interpol for help in detaining U.S. President Donald Trump and dozens of others it believes carried out the U.S. drone strike that killed a top Iranian general in Baghdad.
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A state-run IRNA news agency reported that Tehran prosecutor Ali Alqasimehr said Trump and more than 30 others whom Iran accuses of involvement in the January 3 strike that killed Gen. Qasem Soleimani in Baghdad face “murder and terrorism charges. It is unlikely Interpol would grant Iran’s request as its guideline for notices forbids it from “undertaking any intervention or activities of a political” nature.
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3. Regional and State
GOVERNMENT POLICIES & SCHEMES
05 Jun AP govt releases Rs 10k allowance to each of 2.62 lakh auto & taxi drivers Chief Minister Y S Jagan Mohan Reddy announced the transfer of a total amount of Rs 262.49 crores to 2,62,493 beneficiaries under the YSR Vahana Mitra scheme.
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The YSR Vahana Mitra was launched on October 4, 2019 with an aim to provide an annual allowance of Rs 10,000 to auto and taxi drivers to meet insurance premium, license fees and other recurring expenses. According to the government, the annual payment of allowance under the scheme was advanced by four months as the auto and taxi drivers had no source of income during the past few months due to the lockdown clamped to fight COVID-19. Those who meet the eligibility but have not received any amount as yet can reapply under the scheme
09 Jun Supreme Court refuses to interfere with Haryana language act Some lawyers have moved the top court challenging the Haryana Official language (Amendment) Act of 2020, which makes Hindi as official language in courts and tribunals of the state.
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A bench of Chief Justice S A Bobde and Justices A S Bopanna and Hrishikesh Roy questioned the petitioners as to what was wrong with the law as around 80 per cent of the litigants do not understand English. Petitioner in-person Sameer Jain said that he was not against conducting of court's proceedings in Hindi or any other vernacular language but since he was Delhi-NCR region, it would be difficult for lawyers to argue in Hindi in Haryana courts.
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11 Jun UP cabinet clears ordinance to prevent cow slaughtering According to the Ordinance, for the first offence, a person can be jailed for one to seven years with a fine ranging from Rs 100,000 to Rs 300,000.
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The Uttar Pradesh government on Tuesday approved an ordinance, providing maximum rigorous imprisonment of 10 years and a fine up to Rs 500,000 to protect cows and prevent their slaughtering. The Uttar Pradesh Cabinet on Tuesday approved the Prevention of Cow slaughter (Amendment) Ordinance, 2020 to prevent cow and their slaughtering in the state.
12 Jun Changes to Karnataka Land Reforms Act to allow non-agriculturists to buy farmland The State Cabinet decided to allow non-agriculturists to purchase agricultural land and to remove the ceiling on income from non-agricultural sources to do so.
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The government has decided to repeal Sections 63 (a), 79 (a), (b) and (c) in the existing legislation to enable these changes. The Congress government, led by Siddaramaiah, had amended the Act in 2015 and increased the income limit from non-agricultural sources to purchase farmland from ₹2 lakh to ₹25 lakh. The income limit was fixed to prevent the misuse of farmland. The Ministers defended the move saying that Land Reforms Acts have been amended in other States and non- agriculturists have been buying lands.
22 Jun Jharkhand plans NREGA-like scheme for urban poor The scheme, Mukhyamantri Shramik Yojna, will guarantee 100 days of work in a year for urban unskilled labourers and would have a provision to pay an unemployment allowance if the state fails to provide 100 days of work.
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The scheme called Mukhyamantri Shramik Yojna will guarantee 100 days of work in a financial year for urban unskilled laborers. The new scheme would have a provision to pay an unemployment allowance if the state fails to provide 100 days of work. The scheme shall be monitored at the state level and a new urban employment guarantee council would be formed, headed by the chief minister. The urban development minister would be the vice president with secretaries of departments concerned as members.
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25 Jun Rajasthan to launch Indira Rasoi Yojana for the poor A new kitchen scheme, named after former Prime Minister Indira Gandhi, will shortly be launched in Rajasthan for providing nutritious food to the poor.
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Chief Minister Ashok Gehlot said here that the Indira Rasoi Yojana would fulfil the government’s promise not to let anyone sleep hungry. Non-governmental organisations would be roped in for running the scheme, and the implementation would be effectively monitored with the help of information technology. Mr Gehlot made the announcement while inaugurating an awareness campaign on COVID-19 through video- conference from his official residence. While the prices for the meals are yet to be finalised, the food will be prepared to keep in mind the requirements and tastes of every municipal area.
OTHERS
02 Jun Delhi govt seals borders for a week,, allows salons,, barber shops to open The borders will remain sealed for a week after which the government will again take further decisions. Delhi government will implement all the relaxations permitted by the Centre.
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The chief minister said that the Delhi government will implement all the relaxations permitted by the Centre. He said that until now, shops in markets were being allowed to open on an odd-even basis, adding that there are no such restrictions mentioned by the Centre in its latest guidelines The Delhi government announced that it is sealing its border with neighbouring states to contain the sudden surge in cases in the national capital.
11 Jun Madhya Pradesh launches portal to provide employment to migrant workers All the migrant workers and their families have been registered on the portal besides employers who are seeking workers as they re-start economic activities.
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According to a statement by the state government, 7,30,000 migrant labourers and 5,79,000 members of their families have been registered on the portal, taking the total to 13,10,000. Besides, 5,246 employers have been registered on the portal. The state plans to hold rojgar melas over the next two months to employ these workers besides ensuring that work opportunities are created under the Mahatma Gandhi National Rural Employment Guarantee scheme.
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15 Jun Earthquake with 5.8 magnitude hits Gujarat This is the latest in a series of earthquakes in the northern region of the country, with one hitting the National Capital Region a week earlier.
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Reports coming in from the NCS indicate that the quake clocked in at 5.8 on the Richter scale. Chief Minister Vijay Rupani held an immediate telephone conversation with the Collectors of Rajkot, Kutch and Patan districts following the tremors in the state and got information about the situation there. Meanwhile, an earthquake of magnitude 3.0 struck 90 km east of Katra, Jammu and Kashmir at 8:35 pm today.
16 Jun Delhi govt withdraws order declaring nursing homes as Covid-19 hospitals Only standalone exclusives Eye Centres, ENT Centers, Dialysis Centres, Maternity Homes and IVF Centres were exempted as per the earlier order.
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The competent authority has directed that order dated June 14 under Clause 14.1 of the Schedule appended to Rule 14 of Delhi Nursing Homes Registration (Amendment) Rules, 2011 by Medical Superintendent Nursing Homes to keepers of all nursing homes, registered under Delhi Nursing Homes Registration Act, 1953. In order to prevent intermingling of Covid-19 patients with non-COVID-19 patients and to increase the bed capacity in view of potential growth in cases in the National Capital. The Delhi government had ordered all nursing homes in the National Capital Territory of Delhi having bed strength of 10 to 49 beds to exclusively treat coronavirus cases.
24 Jun Tamil Nadu CM,, Petroleum Minister inaugurate compressed bio gas plant >> The CBG plant has been set up by IOT Infrastructure and Energy Services, a joint venture between Indian Oil Corporation Ltd. and Germany’s Oiltanking GmbH at a cost of ₹25 crores.
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The Chief Minister said Tamil Nadu was the leading State in the country in renewable energy. T.N. has a renewable energy potential of 15,876 MW, the government would extend all support to the Government of India to implement clean energy projects. The Union Minister said this was the first time that an alternative to natural gas was being sold by oil marketing companies and the number of such projects were to increase manifold in the coming years
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25 Jun In a first,, diesel costlier than petrol in Delhi after 18 hikes in a row Diesel now costs Rs 79.88 per litre in Delhi as compared to petrol price of Rs 79.76 a litre. Rates differ from state to state depending on the incidence of VAT.
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According to a price notification of state oil marketing companies, petrol price was unchanged after 17 consecutive increases, while diesel rates were increased by 48 paise per litre across the country. However, diesel is costlier than petrol only in the national capital where the state government had raised local sales tax or VAT on the fuel sharply last month. In Bengaluru, petrol comes for Rs 82.35 a litre and diesel for Rs 75.96. In Hyderabad, petrol is priced at Rs 82.79 a litre and diesel at Rs 78.06.
25 Jun Chhattisgarh commissions its largest solid waste processing plant The plant has a capacity of managing 500 tonnes of waste per day using scientific techniques, the spokesperson said, adding that the waste will be used to manufacture fertilisers and fuel for cement units.
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The project would be implemented by Delhi MSW Solutions Ltd (DMSWSL), a subsidiary of Hyderabad based Ramky Enviro Engineers Ltd. The company had inked a 15-year deal with the Raipur Municipal Corporation (RMC). The state government spokesperson said the plant, which was inaugurated by Chief Minister Bhupesh Baghel, was built with an investment of Rs 127 crore. The total input cost of this project is Rs 197 crore.
25 Jun Cabinet approves declaration of UP''s Kushinagar Airport as an International Airport Kushinagar Airport is located in the vicinity of several Buddhist Cultural Sites like Sravasti, Kapilvastu, Lumbini and will now offer improved connectivity, wider choice of competitive costs to the air- travellers.
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Kushinagar is an important Buddhist pilgrimage site, where Gautama Buddha attained Mahaparinirvana after his death, it explained. However, this international tourist destination has no direct connectivity, which has been a long pending demand of the visitors. The 'Buddhist Circuit' is a key pilgrimage destination for 530 million practising Buddhists across the globe. The international airport is expected to boost the already growing tourism and hospitality ecosystem in the country.
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26 Jun Atma Nirbhar Uttar Pradesh Rojgar Abhiyan to be launched on Jun 26 Atma Nirbhar Uttar Pradesh Rojgar Abhiyan is focused on providing employment, promote local entrepreneurship, and create a partnership with industrial associations and other organisations.
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The campaign is focused on providing employment, promote local entrepreneurship, and create a partnership with industrial associations and other organisations, said the Prime Minister’s office today. Atma Nirbhar Uttar Pradesh Rojgar Abhiyan is envisaged by Yogi Adityanath-led Uttar Pradesh government by clubbing together the programs launched by the centre and the state government. Villages across all districts of Uttar Pradesh will join this program through the Common Service Centers and Krishi Vigyan Kendras.
26 Jun Barber shops,, beauty parlours to reopen in Maha from June 28 Under the government's 'Mission Begin Again' phase four, only select services like hair cut and dyeing, waxing and threading will be allowed as of now in these outlets.
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A revised set of guidelines, issued in the night as part of the government's 'Mission Begin Again' phase four, said only select services like hair cut and dyeing, waxing and threading will be allowed as of now in these outlets. Skin-related services will not be allowed at present and this should be prominently displayed outside shops. Disposal towels and napkins must be used on customers, while non-disposal equipment should be sanitised and sterilised after each service
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27 Jun Cyclone prone Odisha to build Rs 19,,000-cr disaster immune power infra Having faced the wrath of natural disasters in the form of devastating cyclones, Odisha has firmed up plans to install a disaster resilient power infrastructure system.
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The ambitious project estimated to cost Rs 19,000 crore, is slated to be taken up in a staggered manner spanning three years in implementation. Initially, the project would cover four coastal districts- Kendrapara, Bhadrak, Balasore and Jagatsinghpur. Five more coastal districts- Puri, Cuttack, Khurda, Ganjam and Gajapati are envisaged to be taken up in the second phase. Odisha’s coastline has been pounded by some destructive cyclones in recent memory.
27 Jun MP forms migrant labour commission to provide employment The tenure of the commission will be of two years. The commission will be headed by a chairman and have 2 members nominated by the state government.
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The Commission will recommend the state government on measures for the welfare of migrant labourers, creation of employment opportunities and skill development of migrant labourers and their families as well as effective implementation of existing laws for the protection of their interest. The Commission will have two members nominated by the state government. Under this, all labourers with the domicile of Madhya Pradesh,
28 Jun Veteran BJP leader Yashwant Sinha announces a new front for Bihar elections Sinha announced the launch of the new yet-unnamed forum along with former Jehanabad MP, Arun Kumar, former MP Nagmani, former state minister Narendra Singh and former RJD MP Devendra Yadav
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Veteran BJP leader and former union minister Yashwant Sinha on Saturday launched a new front in Patna. Sinha did a press conference to announce the launch of the new forum, the name of which is yet to be decided. Arun Kumar who had played an important role in creating this platform was earlier with Rashtriya Lok Samata Party (RLSP). It is unclear whether this would be the party under which Sinha will fight the elections. Sinha said that at present he is not associated with any political party.
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29 Jun July 1,, which is Doctor''s Day,, to be observed as Sufferance Day Kerala Government Medical Officers’ Association (KGMOA) is protesting against the failure of the administration to take pro-active steps to boost the morale of government doctors.
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While the rollout day of July 1 will be known as 'GST Day', all the offices of the Central Board of Excise and Customs (CBEC) have been instructed to be open on Saturday as a trade facilitation measure. This was to enable the availability of officers and staff for the benefit of trade and industry, an order issued by CBEC Special Secretary and Member S Ramesh said. A guidance manual for such GST Seva Kendras to has been circulated to all offices in a bid to standardise quality taxpayer services.
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4. Business and Economy
GOVERNMENT POLICIES & SCHEMES
02 Jun Cabinet committee okays ₹50,,000 cr. infusion for MSMEs The ₹50,000 crore equity infusion for micro, small, and medium enterprises (MSMEs) is with an aim to help them enhance capacity, while also encouraging them to get listed.
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Union Minister of MSME Nitin Gadkari said ‘big industry people buy and sell stocks in the share market’, but the facility was not available for MSMEs. Some MSMEs export worth thousands of crores, they don’t need to depend on the bank.” This revolving fund can grow up to be ₹2 lakh crore in the next 2-3 years. It has also been decided that the turnover with respect to exports will not be counted in the limits of turnover for any category of MSME units, be it micro, small or medium
04 Jun Govt approves changes to EC Act,, permits farmers to sell produce freely The changes to the Essential Commodities Act to deregulate food items, will enable farmers to sell their produce freely and not be restricted to just APMC markets.
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The Cabinet also approved 'The Farming Produce Trade and Commerce (Promotion and Facilitation) Ordinance, 2020' to ensure barrier-free trade in agriculture produce. The government also approved 'The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Ordinance, 2020' to empower farmers to engage with processors, aggregators, wholesalers, large retailers and exporters.
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05 Jun Centre releases Rs 36,,400 cr GST compensation to states,,UTs for 3 months Under the GST law, states were guaranteed to be paid for any loss of revenue in the first five years of the GST implementation from July 1, 2017.
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The Centre had released Rs 69,275 crore in 2018-19 and Rs 41,146 crore in 2017-18 as compensation for GST which was rolled out on July 1, 2017. The cess collection in 2019-20, 2018-19 and 2017-18 fiscal was Rs 95,000 crore, Rs 95,081 crore and Rs 62,611 crore, respectively. As the compensation requirement of the states was less than collection in the first two years (2017-18 and 2018-19) of GST rollout, Rs 47,271 crore GST compensation cess collected had remained unutilised in the compensation kitty
06 Jun President promulgates ‘‘Agri Ordinances’’ These will promote efficient, transparent and barrier-free inter–State and intra-State trade and commerce of farmers’ produce outside the physical premises of markets or deemed markets.
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Agriculture Minister Narendra Singh Tomar has asked all chief ministers of states to implement the provisions and create an ecosystem for farm growth. He stressed the need for their continued support in the development and growth of the agriculture sector in the new reformed environment. The Farmers’ Produce Trade and Commerce Ordinance 2020 will provide for the creation of an ecosystem where the farmers and traders enjoy the freedom of choice relating to sale and purchase of farmers’ produce which facilitates remunerative prices through competitive alternative trading channels.
08 Jun Govt changes public procurement rules,, more preference to local suppliers Companies with less than 20 per cent of domestic content in their goods or services will not able to participate in most of the government tenders and they are categorised as "non-local suppliers".
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The revised Public Procurement (Preference to Make in India), Order 2017, has introduced a concept of Class-I, II and non-local suppliers, based on which they will get preference in government purchases of goods and services. Class-I local suppliers will get the most preferred in all government purchases because their domestic value addition is 50 per cent or more. They will be followed by Class-II suppliers, whose value addition range is more than 20 per cent but less than 50 per cent.
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12 Jun IRDAI issues guidelines for standardisation of indemnity health products Policyholders can cancel their policies at any time by giving a 15 days' notice to the insurer and the company has to refund premium for the unexpired policy period.
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According to the guidelines, for customers who opt for premium payment in instalment, insurers have to offer a grace period, within which insureds can pay the premium. If the instalment is not paid within the grace period, the policy will get cancelled. In the event of a claim, the rest of the instalments become due and payable. If policyholders misrepresent facts and fail to disclose material facts, insurers can forfeit the premium paid by them and render the policy void.
24 Jun Sellers must list on GeM country of origin of products Buyers on the platform can now see the percentage of local content in various products. They can also switch on a new Make in India filter for local items.
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a platform for public procurement, to list the Country of Origin while registering new products. Those who had uploaded products are getting regular warnings that they will be removed if the original details are not updated. Buyers on the platform can now see the percentage of local content in various products. They can also switch on a new Make in India filter to see products that match their preferences on local content.
24 Jun Interest on bank deposit,, PPF,, loans to be included for calculating GST registration
threshold AAR ruled that the applicant is required to aggregate the value of exempted interest income along with the value of the taxable supply.
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AAR observed that going by the definition of “aggregate turnover”, the Applicant is required to consider the value of both the taxable supply i.e. “Renting of immovable property” and exempted supply of service provided by way of extending deposits, loans or advances for which they earned interest income, to determine the threshold limit. This will slit in their savings in the form of an increase in compliance cost and working capital requirement due to introducing of tax in their receipts which earlier was not chargeable to tax.
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25 Jun Corporate Affairs Ministry allows virtual board meetings till September The relaxation comes amid the coronavirus pandemic. Initially, the ministry had allowed companies to hold board meetings through video conferences till June 30.
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he relaxation comes amid the coronavirus pandemic. Initially, the ministry had allowed companies to hold board meetings through video conferences till June 30. Under the Centre's guidelines post the relaxations, companies have to follow all requirements laid out under the rules for holding board meetings via video conferencing such as recording of these proceedings, ensuring the availability of proper equipment among others.
25 Jun Cabinet approves participation of private sector in space activities The newly-created Indian National Space Promotion and Authorisation Centre (IN-SPACe) will provide a level playing field for private companies.
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The 'New Space India Limited (NSIL), a PSU under the Department of Space, will endeavour to re-orient space activities from a 'supply driven' model to a 'demand driven' model, thereby ensuring optimum utilisation of our space assets. The proposed reforms will enhance the socio-economic use of space assets and activities, including through improved access to space assets, data and facilities. This centre will also hand-hold, promote and guide the private industries in space activities through encouraging policies and a friendly regulatory environment
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27 Jun Govt exempts FCI from provisions of Contract Labour Rules for 2 years The move would benefit food storage depots of FCI across Uttar Pradesh, Madhya Pradesh, Delhi, Jharkhand, West Bengal, Punjab, Kerala, Tamil Nadu, Assam, Bihar, Haryana and Himachal Pradesh.
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In exercise of the powers conferred by section 31 of the Contract Labour (Regulation and Abolition) Act, 1970 (37 of 1970), the central government hereby exempts the godowns, depots and railheads of Food Corporation of India from the applicability of notifications of the government of India in the ministry of labour and employment in respect of employment of contract labour in different jobs further for a period of two years, with effect from July 6, 2020.
27 Jun From July,, register enterprise online with Aadhaar,, self-declaration The government notified new norms to allow online registration of new enterprises based on self- declaration, doing away the requirement to upload documents and certificates, from July 1.
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Officials said that this has been made possible with the integration of the Udyam Registration process with the Systems of Income Tax and GST and the details filled in can be verified on the basis of PAN number or GSTIN details. An enterprise can be registered just on the basis of the Aadhaar number. Other details can be given on a self- declaration basis without any requirement of uploading or submitting any paper thus it is a paperless exercise in the true sense.
MOU'S / AGREEMENTS
09 Jun Vietnam ratifies free trade deal with EU The free trade agreement will cut or eliminate 99% of tariffs on goods traded between the Southeast Asian country and the European countries.
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Deputies in the National Assembly, which nearly always ratifies government proposals, voted by over 94% in favour of the European Union Vietnam Free Trade Agreement (EVFTA). The EVFTA, expected to take effect in July, is the European Union's second deal with a member of the Association of Southeast Asian Nations (ASEAN) after Singapore, and one of few with a developing country Critics in Europe have taken issue with Vietnam's record on human and labour rights, although the deal does include commitments in those areas.
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OTHERS
01 Jun YES Bank acquires 24.19% stake in Dish TV through pledged shares The promoter family, led by Jawahar Goel, brother of Essel group promoter Subhash Chandra, now owns 30.37 per cent in Dish TV, counted among the leading DTH players in India.
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This is the sixth such transaction by YES Bank in a year in various companies. Last year, YES Bank had invoked pledged shares of CG Power, Cox & Kings, and Reliance Infrastructure. While earlier this year, it had invoked pledged shares of Reliance Power and Sical Logistics, as investor pressure to reduce its exposure to debt-laden firms grows. As of March 31, 2019 (FY19), Dish TV’s debt stood at Rs 2,758 crore The bank’s move to pick up a stake in Dish TV comes following an invocation of pledged shares to the tune of 445.3 million in the firm, the lender said in a filing to the stock exchanges late on Friday night.
04 Jun Facebook,, Saregama announce global licensing deal Saregama has entered into a global deal with Facebook to license its music for video and other social experiences across products offered by the social media giant.
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With the move, Facebook and Instagram users will be able to add music to their posts and stories from India’s oldest music label. Saregama has a catalogue of over 1,00,000 songs across different genres including film songs, devotional music, ghazals and indie pop in more than 25 languages. This partnership will allow users to choose from a wide variety of music to add to their social experiences such as videos, stories via music stickers and other creative content. People will also be able to add songs to their Facebook Profile.
04 Jun R K Singh launches real-time power market Real-time market (RTM) enables consumers, including distribution companies (discoms) and captive users, to buy power on exchanges just an hour before delivery.
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Real-time market (RTM) enables consumers, including distribution companies and captive users, to buy power on exchanges just an hour before delivery. Minister of State (Independent Charge) Power and New & Renewable Energy R K Singh launched pan-India Real-Time Market in electricity through video conference in New Delhi, on June 3, 2020. The introduction of real-time market will bring required flexibility in the market to provide real-time balance while ensuring optimal utilization of the available surplus capacity in the system.
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04 Jun Windfall for sugar mills as Centre allows export of alcohol-based sanitiser On May 6, the Centre banned the export of the product to ensure domestic market availability, although non-alcohol-based sanitizers were allowed to be shipped.
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In his June 1 order, Director General of Foreign Trade (DGFT) Amit Yadav, who is also the ex-officio additional secretary at the Centre, notified the export of alcohol-based hand sanitizer with immediate effect “in any other form/packaging” other than in containers with dispenser pump. A few major private sugar millers petitioned the Centre asking it to allow the export of alcohol-based sanitizer considering robust installed capacities and abundant production to serve the domestic market.
05 Jun ZoomInfo IPO priced at $21 per share in largest tech listing in 2020 The Carlyle Group-backed business intelligence platform said it sold 44.5 million shares to raise $934.5 million and valued the company at just over $8 billion(6.38 billion pounds).
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The listing is the latest in a packed week for IPOs, which have rebounded after market turmoil in March and April as Covid-19 pandemic delayed many listings. The Carlyle Group-backed business intelligence platform said it sold 44.5 million shares, which at $21 a share would raise $934.5 million and value the company at just over $8 billion(6.38 billion pounds). Warner Music Group Corp's stock popped 8 per cent on its Nasdaq debut, after selling $1.9 billion in shares toward the higher end of its target range.
05 Jun Taj ‘‘strongest’’ Indian brand: Brand Finance Report The top 10 Indian brands in terms of brand value for this year include Taj, Jio, HP, Maruti Suzuki, HDFC Bank, IndiGo, IndianOil, LIC, ACC and Amul.
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Brand Finance, which evaluates the relative strength of brands, based on factors such as marketing investment, familiarity, loyalty, staff satisfaction, and corporate reputation, has put Taj’s brand value at $309 million. Taj brand has got the Brand Strength Index (BSI) score of 90.5 out of 100 and a corresponding elite AAA+ brand strength rating. The brand has set its sights on expanding its global footprint wider, with 13 new properties and 2,900 rooms already in the pipeline.
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06 Jun Standard Life sells 1.98% stake in HDFC Life for Rs 1,,986 crore More than 50 institutional investor accounts bought the shares, including, Capital World, Nomura, Morgan Stanley and Societe Generale. Birla MF, ICICI MF and Mirae MF.
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The shares sale was conducted at Rs 496.4 per share and fetched the UK-based firm Rs 1,986 crore ($263 million). More than 50 institutional investor accounts bought the shares. Some of them include Capital World, Nomura, Morgan Stanley and Societe General. Birla MF, ICICI MF and Mirae MF were among the domestic institutions that bought the stake. Shares of HDFC Life ended at Rs 517.5, up 3.2 per cent on the BSE. Following the stake sake, Standard Life’s stake will decline to 10.27 per cent.
06 Jun Abu Dhabi''s Mubadala to buy 1.85% stake in Jio Platforms for 9093.6 crore Other recent investors in Jio Platforms are private-equity firms General Atlantic, Silver Lake, Vista Equity Partners, and KKR & Co Inc .
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Reliance has now sold a combined 19% interest in Jio Platforms, which houses movie, music apps and telecoms venture Jio Infocomm, in six fundraising deals including a 9.99% stake sale to Facebook Inc for $5.7 billion. The interest in Jio Platforms highlights its potential to become the dominant player in India's digital economy. The telecoms unit has already decimated several rivals with cut-throat pricing and is counting on Reliance's retail network to expand into e-commerce.
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06 Jun Atlas Cycles shuts manufacturing unit in Sahibabad Atlas Cycles has shut its last manufacturing unit in Sahibabad on June 3, which ironically was also the World Bicycle Day, citing lack of funds to run the factory. It laid off 431 remaining employees.
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Its Chief Executive Officer N P Singh Rana, however, insists the shutdown is only temporary. The company will resume operations once it is able to raise around Rs 50 crore by selling surplus land, he said. The company shut the factory on June 3, which ironically was also the World Bicycle Day. It laid off 431 remaining employees, though Rana insists they continue to be on the roll of the company and will be paid “lay-off wages” upon marking attendance daily.
06 Jun Silver Lake to invest ₹4,,550 crore more in Jio Platforms Silver Lake’s investment values Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore, and will translate into a 2.08% equity stake in Jio Platforms on a fully diluted basis.
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This brings the aggregate investment by Silver Lake and its co-investors to ₹10,202.55 crores. Silver Lake’s investment values Jio Platforms at an equity value of ₹4.91 lakh crore and an enterprise value of ₹5.16 lakh crore, and will translate into a 2.08% equity stake in Jio Platforms on a fully diluted basis. With this investment, Jio Platforms has raised Rs 92,202.15 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks.
07 Jun Reliance Jio net debt plummets to ₹21,,900 Cr Reliance Jio’s net debt has fallen to ₹21,900 crore from its peak of ₹2.17 lakh crore, with global investors pumping funds for equity stake in its parent Jio Platforms Ltd.
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Investors such as Facebook, Silver Lake, Vista, General Atlantic, KKR and Mubadala have invested over ₹92,000 crores in Jio Platforms, conferring an enterprise value of ₹5.2 lakh crore. As in the case of the earlier deals, Jio Platforms is expected to retain 10% of the funds and transfer the rest to its parent company, which could subsequently use the funds for deleveraging its own balance sheet.
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08 Jun Yatra terminates Rs 2,,300-cr merger pact with US software firm Ebix Ebix had signed the agreement last year to acquire Gurugram-based Yatra Online for an enterprise value of $338 million (about Rs 2,327 crore) in an all-stock deal.
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The deal was supposed to conclude in the October-December quarter after regulatory approvals but went through several extensions, according to regulatory filings with the US Securities and Exchange Commission. The merger agreement contains certain termination rights for Ebix and Yatra, including, among others, the right of either party to terminate the merger agreement if the merger has not been consummated on or prior to the outside date, which was previously extended to May 4, 2020.
08 Jun ADAI to invest Rs 5,,683.50 cr in Jio Platforms Abu Dhabi Investment Authority's investment values Jio Platforms at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion.
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ADIA’s investment will translate into a 1.16% equity stake in Jio Platforms on a fully diluted basis. With this investment, Jio Platforms has raised Rs 97,885.65 crore from leading global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala and ADIA in less than seven weeks. Jio Platforms, a wholly-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers.
09 Jun US FDA grants orphan drug status to mexiletine hydrochloride: Lupin Mexiletine hydrochloride reduces myotonia symptoms, resulting in a significant improvement in patient quality-of-life and other functional outcomes.
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The Mumbai-based company's drug NaMuscula is the first and only licensed product to treat myotonia in adults with non-dystrophic myotonic (NDM) disorders. The company has already inked distribution agreements with three companies to make the drug commercially available in select European countries. The decision by the US FDA to grant orphan drug designation to mexiletine brings us closer to providing a licensed treatment option for patients in the US
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10 Jun Adani Green Energy Ltd bags world’’s largest solar contract worth $6 billion With this win, AGEL will now have 15 GW capacity under operation, construction or under contract thereby accelerating its journey towards becoming the world’s largest renewables company by 2025.
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Gautam Adani led Adani Green Energy Limited (AGEL) has won one of world’s largest solar contract from Solar Energy Corporation of India (SECI) to develop 8 GW of solar projects along with a commitment to establish 2 GW of additional solar cell and module manufacturing capacity at cost of ₹45,000 crores. This award will take the Company closer to its target of achieving an installed generation capacity of 25 GW of renewable power by 2025 which in turn will see it committing an investment of ₹112,000 crores in the renewable energy space over the next 5 years,” said a company statement.
10 Jun Edible oil firms to buy seeds directly from empanelled farmers and APMCs Oilseed crushing units and branded edible oil companies are planning to empanel farmers in order to buy directly from them, although the facility will be useful only when Kharif crop arrivals begin after September.
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This is because a large part of the rabi seeds have been harvested and farmers usually sell them in the APMCs. Big edible oil companies are planning to continue buying seeds from APMCs as well as directly from farmers. The price at which commodities are traded in the APMCs will act as a reference or benchmark for units whenever they buy seeds. The edible oil crushing industry was the first to ask for facilities to buy directly from farmers since the lockdown began. At that time a whole lot of labour and transportation issues emerged, making it difficult for plants to source raw material.
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11 Jun Parle-G logs record sales during lockdown Leading food company Parle Products gained a market share of around 5% in the highly competitive biscuit segment, helped by Parle-G biscuits.
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The company has gained a market share of around 5% in the highly competitive biscuit segment, helped by Parle-G biscuits, preferred by the people stocking up their pantries during the pandemic. Parle-G biscuits also gained traction as it was preferred by government agencies and NGOs working to distribute food relief packages to people during the pandemic owing to its economic proposition with value package of ₹2 besides being considered a good source of glucose. The growth was phenomenal and as a result Parle was able to increase its market share by 4.5 to 5% during the lockdown.
11 Jun Standard and Poor retains India''s BBB- rating for 13th year in a row Affirming the outlook "stable", it said though risks to long-term growth are rising, India's ratings reflect the country's above-average real GDP growth, sound external profile and evolving monetary settings.
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Affirming the outlook "stable", it said though risks to long-term growth are rising, India's ratings reflect the country's above-average real GDP growth, sound external profile and evolving monetary settings. S&P Global Ratings has forecast India's economy to shrink by 5 per cent in the current fiscal. It, however, has projected GDP growth to be 8.5 per cent in 2021-22 and 6.5 per cent in 2022-23. The Indian economy grew at the slowest pace in 11 years at 4.2 per cent in 20 ..
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12 Jun CBIC allows refund of input tax credit accumulated on imports The clarification was issued after trade flagged that input tax credit claims were being rejected by tax authorities since invoice details of the unused credit in several cases were not getting reflected in the GSTR 2A.
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As per law, credits not reflecting in GSTR 2A cannot be claimed. CBIC had issued a circular on March 31, stating that refunds related to missing invoices will be restricted, and will be processed in cases where invoices are unavailable. Tax experts said the move would greatly help India's foreign exchange-earners who were facing serious on-ground challenges on refunds claims of any unutilized input tax credit.
12 Jun SC asks Airtel,, Vodafone Idea for road map on payment of AGR dues Earlier, in its petition to the SC, DoT had sought relief via 20-year staggered payment for the telcos' dues along with a waiver of interest and penalty.
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The bench, headed by Justice Mishra, in a virtual hearing, also asked private telecom operators such as Bharti Airtel and Vodafone Idea to file affidavits within five days outlining details on how they would pay the AGR dues. According to the telco, it does not even have enough money to pay salaries to employees and meet expenses. It also pointed out it would not be in a position to give any bank guarantee.
12 Jun MakeMyTrip,, Meru tie-up to provide ultra-sanitised cab services Safety procedures include ozone sanitization, Isopropyl Alcohol (IPA) sanitisation of the cab’s exteriors, temperature check of the driver-partner at the designated sanitization hubs at the airports.
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The upgraded hygiene measures within the cab include air-protect barrier sheet between the rider and the driver- partner and availability of alcohol-based hand sanitizer in the cab. The partnership will help us provide a seamless and safe experience and takes one big worry away for our users who are flying, by helping them pre-book their airport transfers. For a hassle-free booking experience, the company has integrated the cab booking option into the flight’s funnel enabling flyers to book their flight and airport cab service together.
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13 Jun Bio-fuel boost: Govt to allow ethanol production from surplus rice,, says MSME
minister Nitin Gadkari Gadkari said he had a meeting with PK Sinha, advisor to Prime Minister Narendra Modi, and secretaries from the departments of petroleum, food, agriculture and MSME, and chairman of the food corporation of India (FCI) this week in this regard.
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Once the proposal is finally implemented, it will be for the first time that the country will be using grains fit for human consumption to manufacture bio-fuel, industry executives say. This also signals a fundamental shift in the approach of the government that had in the past refrained from such a move for fear of jeopardising food security. The sugar industry has already supplied over 80 crore litres of ethanol to oil-marketing companies for blending with petrol in the current marketing year that started in December 2019, while the biofuel made from damaged grains amounted to 2.9 crores.
13 Jun GST Council Meeting LIVE: Govt halves interest rate on late submission of returns
for small taxpayers GST Council Meeting Live Updates: The government announced relief for small taxpayers and also said that there will be no late fee for GSTR 3B return, which has no liability. For the returns with liability, the maximum late fee has been capped to Rs 500.
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Nirmala Sitharaman cut the interest rate on late submission of returns for the month of February, March, and April from 18 per cent to 9 per cent. The government also announced that there will be no late fee for filing GSTR 3B returns with no liability and pending from July 2017 to January 2020. However, for those with liabilities, the maximum late fee has been capped to Rs 500. FM Sitharaman underlined that no discussion on GST rate cut took place in the meeting and the decision on issues related to inverted duty structure was also postponed.
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13 Jun India''s Forex Reserves crosses half trillion dollars for the first time The healthy surge in the forex kitty was largely on the back of capital raising rounds by Reliance and Kotak Mahindra as the foreign currency asset held by the Reserve Bank of India rose $8.4 billion and stood at a record $463 billion in the reporting week, data released by the central bank on Friday showed.
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The healthy surge in the forex kitty was largely on the back of capital raising rounds by RelianceNSE 3.32 % and Kotak MahindraNSE -1.46 % as the foreign currency asset held by the Reserve Bank of India rose $8.4 billion and stood at a record $463 billion in the reporting week, data released by the central bank on Friday showed. Expressed in US dollars, foreign currency assets include the effect of appreciation or depreciation of non-US currencies such as the euro, pound and yen held in the reserves.
14 Jun Jio Platforms'' fundraising tops Rs 1 trn as TPG takes 0.93% for Rs 4,,547 cr Reliance Industries (RIL) has sold a 0.93 per cent stake to global investment firm TPG for Rs 4,547 crore and 0.39 per cent to private equity firm L Catterton for Rs 1,894 crore.
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With these investments, RIL has sold over 22 per cent in Jio Platforms. The valuation of the deals is in line with recent transactions pegging Jio’s equity value at Rs 4.91 trillion and enterprise value at Rs 5.16 trillion. Jio has so far concluded deals with global investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, and L Catterton in less than two months. Mukesh Ambani, chairman and managing director of RIL, said he was happy to welcome TPG and L Catterton as valued investors.
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16 Jun COVID-19: Retail sales of automakers fall by 89 per cent Even as India effects a calibrated exit from the nationwide lockdown and economic activity resumes, demand for automobiles is nowhere near the pre-COVID era.
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At present, most of the carmakers are manufacturing at 30-40 per cent capacity and have about 85 per cent of showrooms opened. The tepid demand for vehicles comes amid wide expectation of sales surge for small cars and two-wheelers as people would prefer personal mobility over public transport. Auto sales in May rose 14.5 per cent from the same month a year earlier, industry data showed. Experts believe economic uncertainty and the possibility of another lockdown is preventing buyers to make big-ticket purchases.
16 Jun Vodafone Idea pays Rs 103 crore interest to Franklin Templeton Mutual Fund Six FT schemes had invested in VIL: Ultra Short Bond Fund, Low Duration, Short Term Income Plan, Credit Risk Fund, Dynamic Accrual Fund, and Income Opportunities Fund.
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Franklin Templeton Mutual Fund said Vodafone Idea Ltd has made an interest payment of about Rs 103 crore and that the amount will be distributed among investors in proportion to their holdings in the segregated portfolios. Six FT schemes had invested in VIL: Ultra Short Bond Fund, Low Duration, Short Term Income Plan, Credit Risk Fund, Dynamic Accrual Fund, and Income Opportunities Fund. Segregated portfolios are created to separate distressed, illiquid and hard-to-value assets from other more liquid assets.
16 Jun HDFC Ergo launches country''s first drone cover Drones were effectively used by the police to implement lockdowns as they have proved to be efficient and beneficial for public surveillance, crowd monitoring.
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This policy will be offered on-demand to customers on a 'pay as you fly' concept, the insurer said in a statement. Third-party insurance liability claim is mandatory for drone operations in the country. Various government bodies and especially police have been using drones in their fight against the coronavirus pandemic which has killed over 9,500 people in the country so far and more than 3.32 lakh people are infected so far. Globally, more than 4.3 lakh lives have been loss.
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16 Jun Tata Power to develop 120 MW solar project in Gujarat 300 million kg of CO2 The plant is expected to generate about 300 million units of energy per year and will annually offset nearly 300 million kg of Carbon Dioxide.
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The energy will be supplied to GUVNL under a power purchase agreement valid for a period of 25 years from scheduled commercial operation date. The company won this capacity in a bid announced by GUVNL under phase 8 in February. The project is required to be commissioned within 18 months from the date of execution of the power purchase agreement. Tata Power's renewable capacity will increase to 3,457 MW out of which 2,637 MW is operational .
16 Jun EPFO launches multi-location claims settlement facility to expedite process It has launched a multi-location claim settlement facility to expedite member claims, moving away from the existing system of geographical jurisdiction for claim processing.
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The facility will bring a paradigm shift by allowing EPFO offices to settle online claims from any of its regional office across the country, the labour ministry said in a statement. All types of online claims i.e. provident fund, pension, partial withdrawal and claims and transfer claims can be processed under this novel initiative, it added. Covid-19 crisis has affected 135 regional offices of the EPFO with different levels of severity depending on their location.
17 Jun India ranked 43rd on IMD''s World Competitiveness Index Singapore has retained its top position on the 63-nation list. Denmark has moved up to the second position (from 8th last year), Switzerland ranks 3rd.
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Singapore has retained its top position on the 63-nation list. Denmark has moved up to the second position (from 8th last year), Switzerland has gained one place to rank 3rd, the Netherlands has retained its 4th place and Hong Kong has slipped to the fifth place (from 2nd in 2019). The US has moved down to 10th place (from 3rd last year), while China has also slipped from 14th to 20th place. Among the BRICS nations, India is ranked second after China, followed by Russia (50th), Brazil (56th) and South Africa (59th).
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19 Jun Fitch Ratings revises India’’s outlook to negative from stable Fitch Ratings on Thursday revised India’s outlook to ‘negative’ from ‘stable’, stating that the coronavirus pandemic has significantly weakened the country’s growth prospects for the year and exposed the challenges associated with a high public-debt burden. The move comes after another rating agency Moody’s earlier this month downgraded India’s sovereign rating by a notch to lowest investment grade of ‘Baa2’ for the first time in 22 years.
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The move comes after another rating agency Moody’s earlier this month downgraded India’s sovereign rating by a notch to lowest investment grade of ‘Baa2’ for the first time in 22 years. “Fitch Ratings has revised the outlook on India’s long-term foreign-currency issuer default rating (IDR) to negative from stable and affirmed the rating at ‘BBB-’,” the rating agency said in a statement. Fitch expected economic activity to contract by 5 per cent in the fiscal year ending March 2021 (FY21) due to the strict lockdown measures imposed since March 25, before rebounding by 9.5 per cent in FY22.
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19 Jun Finance minister Nirmala Sitharaman unveils details of PM Garib Kalyan Rojgar
Abhiyaan The livelihood opportunities will come up in 116 districts spread over six states who have received substantial numbers of migrants.
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Prime Minister Narendra Modi will launch the rural public works scheme on June 20 from the district of Khagaria in Bihar. A total of 25 works under the government of India will be brought together in those districts where migrants have gone back and under these 25 schemes livelihoods will be given. The total outlay projected is Rs 50,000 crore. These will be done in 125 days.
19 Jun Goods purchased,, sold overseas liable to GST in India: AAR A domestic company buying goods from abroad and selling to another country will have to pay on such transactions even if the said products are not entering the Indian territory, the Authority for advance ruling (AAR) has said. GST
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On an application filed by Sterlite Technologies, the Gujarat-Bench of AAR has ruled that GST is payable on goods sold to a customer located outside India, where goods are shipped directly from the vendor’s premises to the customer’s premises. The applicant had sought to know whether the goods and services tax (GST) would be levied on merchant trade transactions (MTT). The theory of elimination takes us to the conclusion that such supplies will be subject to the levy of IGST (integrated GST).
20 Jun FinMin proposes curbs on foreign investment in pension funds from China Amidst growing tension between India and China, the finance ministry on Friday proposed putting restrictions on foreign investment in pension funds from any of India's bordering countries.
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Foreign investment in pension funds regulated by the Pension Fund Regulatory and Development Authority (PFRDA) is capped at 49 per cent with the automatic route. According to a draft notification circulated for comments, "A government approval would be required for the investing entity or individual from any of the bordering countries including China. The relevant provisions of FDI policy issued from time to time would apply in all such cases." Any foreign investment from these countries will be subject to approval from the government.
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24 Jun Companies facing cash crunch may have to reverse GST credit on delayed payments
to vendors These cash-strapped companies will have to either make payments within 180 days or reverse the tax credit and pay 18% interest from the day the credit was taken.
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The larger worry for businesses has been on possible interest implications with delayed payment of consideration, including it applying for the retrospective period (from the date of availing of the credit) when such a pandemic and cash crunch was not even anticipated by businesses. This has led to a trend where companies hold on to payments till the time vendors show proof that they have paid the GST.
24 Jun Adani Power buys 49% stake in Odisha Power Generation Corp The government of Odisha holds the balance 51 per cent stake in OPGC which operates the 1,740 Mw thermal power plant at Banharpalli in Jharsuguda.
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The government of Odisha holds the balance 51 percent stake in OPGC which operates the 1,740 Mw thermal power plant at Banharpalli in Jharsuguda, Odisha. This plant is the mainstay of the state for baseload power supply and amongst the lowest cost power generated in the state. The super-critical capacity of 1,320 MW is a recently commissioned modern plant with low carbon footprint.
25 Jun Exporters to submit origin certificates for shipments to Asean countries The document is important to claim duty concessions under free trade agreements. This certificate is essential to prove the origin of the goods.
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India has a free trade agreement (FTA) with 10-nation Asean (Association of South-East Asian Nations) bloc. Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam are the members of the bloc. Indian exporters need to file the application to the offices of the designated issuing agencies - EIA (Export Inspection Agency), MPEDA (Marine Products Exports Development Authority) and Textile Committee, the Directorate General of Foreign Trade (DGFT), under the ministry, according to a trade notice by the DGFT.
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25 Jun E-commerce firms ready to comply on ''country of origin'' after DPIIT meeting The meeting came a day after the GeM platform made it mandatory for its listed sellers to specify the country of origin while registering new products on the portal.
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The companies have been told to give suggestions and information at the next meeting, to be held in about two weeks, about the challenges in implementing such a feature. According to people aware of the proceedings, the virtual meeting was attended by about 15 companies, including Amazon, Flipkart, Paytm Mall, ShopClues, and JioMart. The border stand-off with China has sparked a campaign to boycott Chinese products. The move to have GeM sellers specify the country of origin was seen by some as a way to lead by example and force large e-commerce firms to comply.
26 Jun Pompeo declares Reliance Jio ''clean'' for spurning Huawei telecom gear Jio is reportedly trying the 'swadeshi' route for 5G and has applied to the Department of Telecommunications for permission to carry out lab tests for the technology without third-party participation.
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Listing Jio among the "world's leading" telecom operators, Pompeo said on Wednesday that it was one of the "Clean Telcos" for spurning Huawei, which he called a part of the "Chinese Communist Party (CCP) infrastructure." Reliance Industries Chairman Mukesh Ambani had told US President Donald Trump during his February visit to India that Pompeo said that by Jio along with some other Canadian, British and French telecoms was "disconnecting from the Chinese Communist Party infrastructure" by not using Huawei equipment.
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26 Jun Indian Oil posts mammoth loss as crude prices plunge The primary contributor for the loss at IOCL was a large Rs 11,304.64 crore inventory loss arising from the sharp fall in price of crude oil.
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According to financial details filed with the stock exchanges, the primary contributor for the loss was a large Rs 11,304.64 crore inventory loss arising from the sharp fall in the price of crude oil. Oil companies take inventory losses when crude oil prices fall before this stock of crude is processed and sold on the market. Since retail prices are benchmarked to high-frequency raw material prices, oil firms take inventory losses when crude dives.
27 Jun US equity giant Bain Capital to buy bankrupt Virgin Australia airlines The transaction will see the retention of thousands of jobs as well as honouring all employee entitlements and passenger travel credits and frequent flyer points.
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The news comes after rival bidder Cyrus Capital Partners withdrew its offer citing a lack of engagement with the seller, reports Xinhua news agency. Deloitte confirmed in a statement that it had entered into a sale and implementation deed with Bain Capital, which, subject to approvals including a vote by creditors in August. According to Deloitte, the transaction will see the retention of thousands of jobs as well as honouring all employee entitlements and passenger travel credits and frequent flyer points.
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27 Jun IOC launches battery swapping facility for quick recharge of electric vehicles Indian Oil Corp (IOC) will begin with a pilot of battery swapping at one of its outlets in Chandigarh and gradually scale it up to 20 stations.
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Indian Oil Corp (IOC) will commence with a pilot of battery exchanging at one of its outlets in based out in Chandigarh and steadily will scale it up to 20 stations, announced Sanjiv Singh, the chairman, at the launch. Battery switching technology offers the best replacement to slow charging and helps the drivers make potential use of the operational hours. To which he further added, that the battery swapping model is for the current time targeted at the commercial vehicles such as electric autos, rickshaws and electric two-wheelers and EVs that are either factory fitted or retrofitted.
27 Jun Microsoft to close all offline retail stores,, take $450 million hit The Redmond, Washington-based software giant said would continue to serve customers online, with team members working remotely from corporate facilities.
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It was not immediately clear if Microsoft's move would lead to any layoffs. The company also said it will rethink other spaces that serve all customers, including operating Microsoft Experience Centers in London, New York City, Sydney, and Redmond campus locations. The physical stores generated negligible retail revenue for Microsoft and ultimately everything was moving more and more towards the digital channels over the last few years
28 Jun After HUL,, now L''Oreal to also drop ''fair'' and ''white'' from skincare brands Unilever and L'Oreal are two big players in the global market for skin whitening creams used in India and other Asian, African, and Caribbean countries.
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The move came a day after Unilever made a similar announcement amid growing criticism. The Indian subsidiary, Hindustan Unilever Limited (HUL) stopped using the word 'Fair' in the flagship brand 'Fair & Lovely' with a "more inclusive vision of beauty. HUL announced the rebranding of its flagship brand Fair & Lovely. Taking forward the brand's journey towards a more inclusive vision of beauty, the company will stop using the word 'Fair' in the brand name 'Fair & Lovely'.
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28 Jun Govt offers filing of NIL GST statement in form GSTR-1 through SMS This would substantially improve ease of GST compliance for over 12 lakh registered taxpayers who had to otherwise log into their account and then file their GSTR-1 every month or quarter.
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With the facility of SMS getting activated, now taxpayers with NIL liability need not log on to the GST Portal and may file their NIL statement in form GSTR-1 through an SMS. The status confirmation of the filed statement or return application can be tracked by them on the GST Portal by logging into their GSTIN account and navigating to Services. The Central Board of Indirect Taxes and Customs (CBIC) has already made available the facility to file NIL monthly GSTR-3B return through SMS since 8th June 2020.
28 Jun Piramal sells 20% in pharmaceutical business to Carlyle for $490 mn Carlyle will pick up a 20 per cent stake for $490 million or around Rs 3,700 crore in the pharma subsidiary called Piramal Pharma Ltd.
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The group also plans to list its business arm, which has been spun off into a separate subsidiary, soon. Through this, Piramal is readying a ‘war chest’ for future strategic investments both organic and inorganic. Carlyle will pick up the stake in Piramal Pharma for $490 million, or around Rs 3,700 crore. There is also an upside component built into the deal, which will depend on the profitability of the current year’s performance. Piramal Pharma will include Piramal Pharma Solutions, end-to-end contract development and manufacturing organisation (CDMO) business and Piramal Critical Care.
29 Jun Govt extends deadline to bid for Air India by two months till Aug 31 This is the third time the bid deadline for Air India has been extended. The divestment process for the national carrier was initiated on January 27.
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The divestment process for the national carrier was initiated on January 27. Issuing a corrigendum to the Expression of Interest (EoI) for sale of Air India. The Department of Investment and Public Asset Management (DIPAM) said the deadline has been extended in view of the request received from the IBs (interested bidders) in view of the prevailing situation arising out of Covid-19. Also, the date for intimation to Qualified Interested Bidders (QIBs) has been extended by two months till September 14, the DIPAM said in the corrigendum posted on its website.
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30 Jun Shale pioneer Chesapeake Energy largest US oil producer to seek bankruptcy Chesapeake Energy Corp filed for Chapter 11 on Sunday, becoming the largest US oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact of the coronavirus outbreak on energy markets.
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The filing marks an end of an era for the Oklahoma City-based shale pioneer and comes after months of negotiations with creditors. Reuters first reported in March the company had retained debt advisers. Chesapeake was co-founded by Aubrey McClendon, an early and high profile advocate of shale drilling who died in 2016 in a fiery one-car crash in Oklahoma while facing a federal probe into bid-rigging. Over more than two decades, McClendon built Chesapeake from a small wildcatter to a top U.S. producer of natural gas. It remains the sixth-largest producer by volume.
30 Jun Government bans 59 apps including China-based TikTok,, WeChat The Government of India banned 59 applications, most of the popular Chinese applications such as TikTok, Shareit, Mi Video Call, Club Factory and Cam Scanner, citing threat to national security and sovereignty.
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The ban comes amid continuing tensions on the border between India and China and covers a variety of applications from e-commerce to gaming, social media, browsers, instant messaging and file sharing. The apps are prejudicial to the sovereignty and integrity of India, the defence of India, the security of the state and public order. The ministry of information technology said in a statement, which came two weeks after 20 Indian Army personnel were killed in a violent clash on the India-China border in Ladakh.
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5. Banking Awareness
GOVERNMENT POLICIES & SCHEMES
25 Jun Government announces 2 per cent interest subsidy for small borrowers under Mudra
Yojana The interest subvention scheme will be extended to loans that are outstanding as on March 31, 2020 and not in Non-Performing Asset (NPA) category.
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The 2 per cent interest subvention is estimated cost of the exchequer approximately Rs 1,542 crore, Information and Broadcasting Minister Prakash Javadekar told reporters after the Cabinet meeting. Union Cabinet chaired by Prime Minister approved the scheme for interest subvention of 2 per cent for a period of 12 months, to all Shishu loan accounts under Pradhan Mantri Mudra Yojana (PMMY). The scheme will be extended to loans that are outstanding as on March 31, 2020 and not in Non-Performing Asset (NPA) category.
28 Jun President promulgates ordinance to bring co-operative banks under RBI supervision The amendments do not affect existing powers of the State Registrars of Co-operative Societies under state co-operative laws. The Ordinance amends the Banking Regulation Act, 1949 as applicable to cooperative banks, an official statement said on Saturday.
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The Ordinance seeks to protect the interests of depositors and strengthen cooperative banks by improving governance and oversight by extending powers already available with RBI in respect of other banks to Co-operative Banks as well for sound banking regulation, and by ensuring professionalism and enabling their access to capital. The amendments also do not apply to Primary Agricultural Credit Societies (PACS) or co-operative societies whose primary object and principal business is long-term finance for agricultural development, and which do not use the words "bank", "banker" or "banking" and do not act as drawees of cheques.
MERGERS AND ACQUISITIONS
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16 Jun Lakshmi Vilas Bank receives LoI from Clix Capital for 51% stake purchase LVB had received a preliminary, nonbinding letter of intent (LoI) from AION Capital-backed Clix Capital Services and Clix Finance India for a proposed capital-raising transaction.
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LVB to the stock exchanges and will make “appropriate disclosures as required under the provisions of applicable law” in the event of the execution of definitive agreements. Private equity player AION Capital, through the two non-banking financial units, is set to lead the deal as it looks to buy over a 51 per cent stake for Rs 1,400-1,600 crore, sources said. While LVB’s interim managing director and chief executive officer S Sundar declined to give details, sources confirmed it. Besides, some existing investors may pump in equity into the bank to retain their stakes at current levels, taking the entire amount of capital infusion to around Rs 3,000 crore.
28 Jun IDBI Bank to raise Rs 595 crore by divesting 27per cent stake in IFLI The board of directors at IDBI Bank has approved a plan to offload 27 per cent stake in IDBI Federal Life Insurance at a combined value of Rs 595 crore.
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IDBI Bank has 48 per cent stake in IFLI which started operations in 2008. Federal Bank and its Dutch partner Ageas Insurance International NV have 26 per cent stake each. IDBI Bank will now divest 23 per cent of its stake to Ageas and 4 per cent to Federal Bank. By selling 27 per cent stake in the venture, IDBI Bank will get it's holding down to 21 per cent. The decision is subject to all regulatory approvals to be taken by all related parties and agreements which are yet to be finalised
OTHERS
01 Jun BBB recommends Ashwini Bhatia for post of SBI MD The Banks Board Bureau has also recommended names of M V Rao and P P Sengupta for the post of managing director of Central Bank of India and Indian Overseas Bank, respectively.
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The bureau members interfaced with 20 candidates from nationalised banks on May 30 for the position of managing director in State Bank of India and the position of MD and CEO of Indian Overseas Bank and Central Bank of India. Bhatia will be appointed in place of P K Gupta who superannuated on March 31, while Rao will replace Central Bank of India MD Pallav Mohapatra who will retire in February next year.
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03 Jun SBI reduces savings deposit rates by 5 bps,, ICICI Bank by 25 bps In April, the bank had cut savings bank deposit rates by 25 basis points (bps) to 2.75 per cent per annum across all slabs - those with balance up to Rs 1 lakh and those above Rs 1 lakh.
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SBI has reduced its savings deposit interest rates to 2.70 per cent across all slabs from May 31, according to its website. This is the second reduction by SBI in its interest rates on savings bank deposits in this fiscal. The bank has two slabs for savings bank deposits For deposits of Rs 50 lakh and above, the private lender's account holders will earn an interest of 3.50 per cent, down from 3.75 per cent currently.
03 Jun Uday Kotak sells 2.9% stake in Kotak Mahindra Bank Uday Kotak, promoter of Kotak Mahindra Bank, sold 56 million shares in the secondary market, which was subscribed to by more than 100 investors, for ₹6,900 crore.
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some of the investors were The Regiments of the University of California (₹680.75 crores), Oppenheimer Developing Markets Fund (₹662.92 crores), JP Morgan Securities (₹506.91 crores), SBI Mutual Fund (₹408.46 crores), Aditya Birla Sunlife Mutual Fund (₹385.77 crores), Canada Pension Plan Investment Board (₹378.33 crores), among others. Mr Kotak’s voting rights have been capped at 15% with effect from April 1, 2020, despite his actual shareholding being higher, as per the agreement with RBI.
04 Jun Reliance Infrastructure defaulted on loans of YES Bank,, Srei and others The company said its total financial indebtedness of the listed entity, including short-term and long- term debt, was Rs 6,267 crore as on April 30.
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The firm said it had borrowings of Rs 3,627 crore from YES Bank, in a disclosure to the stock exchanges. In another disclosure on Monday, the company said it also defaulted on a loan of J&K Bank and Srei Equipment Finance on April 30. The company also defaulted to a principal amount repayment worth Rs 4.88 crore to YES Bank on April 29 on a total principal of Rs 944 crore
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06 Jun President approves ordinance to suspend IBC,, offer 6-month relief to firms The ordinance gives permanent protection to companies for default during these six months that can be extended up to a year through a government notification.
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The IBC amendment ordinance stated, “No application shall ever be filed for initiation of corporate insolvency resolution process of a corporate debtor for the said default occurring during the said period.” This suspension of IBC will not be applicable to any default committed before March 25, 2020. The three sections which stand suspended include section 7, 9, 10. A new section 10A has been added to suspend the IBC.
09 Jun RBI proposes easier securitisation,, loan sale guidelines The new set of guidelines that would address the differential between mortgage loans and other loans securitisation, simplifying regulations.
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In two draft papers released on its website the central bank also proposed to bridge the difference between the sale of loans and assignments’ of receivables which lenders use to improve their cash flows while keeping the loans on their books. In the draft guidelines, RBI said has modified the definition of securitisation to include single asset securities against the multiple asset securities allowed in the existing norms.
09 Jun SBI slashes lending rates by 25-75 bps Move will have to be matched by other lenders at a time when margins are under pressure due to extended loan moratorium and a ruling due on whether they can charge interest on the moratorium.
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This will have to be matched by other lenders at a time when margins are under pressure due to extended moratorium on loans and a ruling due on whether they can indeed charge interest on the moratorium. The lending rate cuts come after the country’s largest lender slashed its interest rates on retail term deposits by up to 40 bps across all tenors, from May 27. In fact, the bank reduced its deposit rates twice in May, as it dealt with the challenge of managing a large pool of surplus funds, in the absence of robust credit demand.
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12 Jun RBI bars People''s Co-operative Bank from granting fresh loans RBI has barred Kanpur-based People's Co-operative Bank from granting fresh loans and accepting deposits for six months, due to its weak financial position.
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The Bank shall not, without prior approval of RBI in writing a grant or renew any loans and advances, make any investment, incur any liability including borrowing of funds and acceptance of fresh deposits, disburse. The central bank, however, clarified that the directions should not be construed as a cancellation of banking licence of the co-operative bank. The bank will continue to undertake banking business with restrictions until its financial position improves.
12 Jun RBI proposes 10-yr term for bank promoter-CEOs,, 15 yrs for non-promoters If the CEO or WTD is not a promoter or major shareholder of the bank, that person can continue for 15 years at the bank, after which he or she must step down.
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The central bank said if any such rule was made on the basis of the paper, the CEO or WTD who has completed such 10 or 15 years in the bank would have two years or till the expiry of the tenure, whichever of the two affords the person a longer timeframe, to identify and appoint a successor. This then closes the case of some private bank CEOs trying to get a reappointment after they have turned 70 and puts the onus on them to put through a succession plan. The discussion paper put together the best practices of corporate governance in banks and wanted to create a clearly definable separation between the board and the management.
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13 Jun Mahindra reports first quarterly loss in 19 years amid Covid-19 crisis The firm began reporting consolidated quarterly result only from the June 2018 quarter. Net loss stood at Rs 1,761 cr in Q4
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The company reported a pre-tax loss of Rs 1,761 crore on a consolidated basis in Q4FY20, the first such instance since the July-September quarter in 2001. In comparison, the Mumbai-based company had reported a profit before tax (PBT) of Rs 1,705 crore on a consolidated basis in Q4FY19 and Rs 868 crore in Q3FY20. M&M also reported a sharp decline in net sales during the quarter as volumes declined across segments because of the lockdown.
16 Jun Airtel Payments Bank rolls out ''Suraksha salary account'' for MSMEs Through this innovative account construct, MSMEs and other organisations will be able to make cashless payments and also provide a financial security blanket to their employees.
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India's MSME sector has over 60 million units and accounts for 29 per cent of India's GDP. These units employ a large number of the informal labour force who are not eligible for social and healthcare benefits as part of their salaries, and lack of any financial protection makes them vulnerable The account offers benefits such as Hospicash Insurance and personal accident insurance cover, keeping in mind the low penetration of insurance in India. Account-holders will be able to make cash withdrawals at Airtel Payments Bank's 500,000 banking points across India.
17 Jun Mobile app-based payments rise 163 per cent to USD 287 billion in 2019 The 'India Mobile Payments Market Report' noted that point-of-sale transactions completed using debit and credit cards, including online and in apps, rose 24 per cent to USD 204 billion.
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The 'India Mobile Payments Market Report' noted that point-of-sale transactions completed using debit and credit cards, including online and in apps, rose 24 per cent to USD 204 billion. Interestingly, ATM withdrawals for the first time came in lower than a card and mobile payments based on the value in 2019. And, for each ATM withdrawal, Indians made more than two transactions using either cards or mobile phones, it said. High growth rates in cashless payments seen in recent years are unlikely to repeat amid an economic slowdown due to the coronavirus pandemic,
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19 Jun Amazon India expands Flex delivery programme to over 35 Indian cities Amazon India on Thursday announced the expansion of its 'Amazon Flex' delivery programme to more than 35 cities in the country. The company, however, did not specify the number of individuals engaged with the programme.
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The global delivery programme, which was launched in June last year in India, creates part-time work opportunities where individuals can earn by delivering packages to Amazon customers. They can create their own schedule and earn Rs 120 to 140 per hour. The expansion of the programme from three cities in June 2019 to 35 cities in June 2020 has created tens of thousands of part-time opportunities for individuals in metros and non-metro cities such as Raipur, Hubli, Gwalior and Nashik among others.
20 Jun RIL net debt free before schedule; to list retail,, telecom biz within 5 yrs Reliance Industries is net debt-free after raising a record Rs 1.69 lakh crore from global investors and a rights issue in almost two months
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The statement came after Reliance said on Thursday Saudi Arabia’s Public Investment Fund will buy a 2.32 per cent stake in its digital unit Jio Platforms for Rs 11,367 crore. Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors. Over the past two months, Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.
20 Jun ICICI Bank sells 3.96% stake in ICICI Lombard for Rs 2,,250 crore ICICI Bank on Friday sold 3.96 per cent stake in ICICI Lombard for Rs 2,250 crore. This was done to strengthen the balance sheet in view of the pandemic, which is expected to worsen the bad loan problem.
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In a statement to the exchanges, the bank said that pursuant to the board’s approval, it has divested 18 million shares of face value Rs 10 each of ICICI Lombard General Insurance, representing 3.96 per cent of its equity share capital, for an approximate Rs 2,250 crore. ICICI Bank’s stake in the subsidiary now stands at 51.9 per cent, with the rest being publicly held. The ICICI Bank stock closed at Rs 363.90, up 3.38 per cent higher from its previous close on the BSE. ICICI Lombard closed 0.8 per cent lower at Rs 1,266.45 on the BSE.
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20 Jun RBI doubles withdrawal limit for PMC depositors The RBI stated that they have been in continued talks with all the stakeholders involved and pointed out that owing to the extent of the negative net worth of the bank, and the need to recover bad loans, the resolution of the bank will take further deliberation.
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With this relaxation, 84% of the bank's depositors will be able to withdraw their entire account balance up from 78% earlier. Further, on a review of the bank’s liquidity position, its ability to pay the depositors and with a view to mitigating the difficulties of the depositors during the prevailing COVID-19 situation. It has also been decided to further enhance the limit for withdrawal to Rs 1,00,000 per depositor, inclusive of Rs 50,000 allowed earlier. The bank has been placed under RBI restrictions since September last year and its withdrawal limit was last raised in November.
21 Jun HDFC''s board approves raising up to Rs 14,,000 Crores The funds will be raised through issuance of equity shares or compulsorily-convertible debentures, non-convertible debentures along with warrants, foreign currency convertible bonds
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The funds will be raised through the issuance of equity shares or compulsorily-convertible debentures, non- convertible debentures along with warrants, foreign currency convertible bonds. HDFC said the fundraising plan can also be through any other security, whether secured or unsecured or listed or unlisted, or a combination thereof, either through qualified institutional placement and/or any other permissible modes, in one or more tranches.
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23 Jun ICICI Bank sells 1.5% stake in ICICI Prudential for Rs 840 crore Last week, the private lender sold 3.96 per cent stake in its general insurance arm ICICI Lombard for Rs 2,250 crore to strengthen its balancesheet.
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This is the second such transaction conducted by the bank to strengthen its balance sheet. Last week, the private lender sold a 3.96 percent stake in its general insurance arm, ICICI Lombard, for Rs 2,250 crore. The bank has now raised Rs 3,090 crore by selling a stake in its life and general insurance subsidiaries. In a statement to the exchanges, the bank said, pursuant to the approval granted by the board of the bank, it divested 21.5 million shares of the face value of Rs 10 each of ICICI Lombard Prudential Life Insurance.
23 Jun RBI bars YES Bank from coupon payment on Upper Tier II bonds The private lender had approached banking sector regulator RBI seeking approval to pay interest due as on June 29, 2020 for Upper Tier II Bonds.
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The bank had approached the RBI seeking approval to paying interest due as of June 29 for upper tier-II bonds. These unsecured non-convertible upper tier-II bonds carry coupon of 10.25 per cent. Its overall capital adequacy ratio stood at 8.5 per cent at the end of March, below the regulatory requirements of 11.5 per cent, with common equity tier-I (CET-I) of 6.3 per cent. Its stock on Monday closed 0.9 per cent lower at Rs 27.75 per share on the BSE.
23 Jun YES Bank gets approval to raise up to Rs 15,,000 crore via FPO in July The fundraising is important for the bank to boost its capital base, especially after it announced that it failed to make interest payments on its bonds.
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The issue, to be managed by SBI Caps, will be launched at a substantial discount to the current market price to attract investors. The bank’s shares closed at Rs 27.75 apiece, giving it a market valuation of Rs 34,828 crore. The fundraising committee of the bank will meet again next week to review the demand from investors. The investors have asked the bank to clean up its books before the launch of FPO, said an official of a large institution.
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24 Jun Federal Bank gets board nod to raise up to Rs 12,,000 crore The board cleared proposals to raise up to Rs 8,000 crore through various debt instruments in Indian/foreign currency and Rs 4,000 crore through a mix of debt and issue of equity shares.
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The board of directors in its meeting on June 19, 2020, cleared proposals to raise up to Rs 8,000 crore through various debt instruments in Indian/foreign currency and Rs 4,000 crore through a mix of debt and issue of equity shares, Federal Bank said in a regulatory filing. The Kerala-based lender said it will seek shareholders nod for the fundraising plans in its ensuing annual general meeting on July 16, 2020, by way of video conference or other audiovisual means. The board also cleared the proposal for borrowing in Indian currency/in equivalent foreign currency by way of issue of debt instruments.
24 Jun Icra downgrades Yes Bank''s tier-II bonds to ''D'' after RBI clampdown Agency said downgrade has factored in specific features of the instrument where debt servicing is linked to meeting regulatory norms on capitalisation, i.e., CAR of 9%.
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RBI had restrained payment of interest (coupon) on the tier-II bonds as private lender’s capital adequacy ratio (CAR) was below regulatory requirements. Its CAR was of 8.50 percent as on March 31, 2020. Yes, Bank had approached banking sector regulator with a plea to allow payment of interest due as on June 29, 2020, for Upper Tier II Bonds. These unsecured non-convertible upper tier-II bonds carry a coupon of 10.25 percent.
25 Jun ITR deadline for FY19 extended till July 31,, PAN-Aadhaar till March 2021 CBDT also extended the time limit for making various investments for claiming deductions under the I-T Act for 2019-20 by a month till July 31, 2020.
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The Central Board of Direct Taxes (CBDT) through a notification also extended the time limit by a month till July 31, 2020, for making various investments for claiming deductions under the I-T Act, which includes section 80C (LIC, PPF, NSC etc), 80D, 80G (donations) etc, for 2019-20. The government had in March through the Taxation and Other Laws (Relaxation of certain Provisions) Ordinance, 2020 extended various deadlines under income tax laws till June 30, 2020, following the outbreak of COVID pandemic. The CBDT issued a notification on June 24, 2020to provide further relief to taxpayers by extending various time limits of compliances
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30 Jun Yes Bank to auction properties of Essel Infra,, SKIL Infra in July to recover dues The private bank on July 8 will auction properties owned by Essel Infraprojects in Mumbai. It has also put under the hammer properties owned by another group firm Rama Associates.
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It selling properties to recover dues of Rs 556.53 crore, according to public notice by Yes Bank. The sale of immovable assets is under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act, 2002. The e-auction will take place on July 8, 2020, for recovery of Rs 556,52,30,349.63 as on November 6, 2019, together with further interest, costs, charges and expenses thereon with effect from November 7, 2019, due to the secured creditor
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6. Science, Technology and Environment
OTHERS
01 Jun NASA resumes human spaceflight from U.S. soil with historic SpaceX launch SpaceX launched NASA astronauts Doug Hurley and Bob Behnken into orbit aboard the company's Crew Dragon capsule, making it the first spaceflight from U.S. soil in nine years.
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A SpaceX Falcon 9 rocket lifted off from the Kennedy Space Center at 3:22 p.m. EDT (1922 GMT), launching Doug Hurley and Bob Behnken on a 19-hour ride aboard the company's newly designed Crew Dragon capsule bound for the International Space Station. The exhilarating spectacle of the rocket soaring flawlessly into the heavens came as a welcome triumph for a nation gripped by racially-charged civil unrest as well as ongoing fear and economic upheaval from the coronavirus pandemic.
02 Jun Maharashtra,, Gujarat brace for cyclone Nisarga India Meteorological Department warned that the cyclonic storm will cross north Maharashtra and south Gujarat coasts on June 3, bringing in its wake heavy rains.
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On Sunday, a low pressure area formed over the southeast and adjoining east-central Arabian Sea early morning and persisted till forenoon. It intensified into a depression, moved north-northwestwards and lay centred there, 630km south-southwest of Mumbai in the Arabian Sea, on Monday. It is very likely to intensify into a Deep Depression by Monday evening and intensify further into a cyclonic storm- Cyclone Nisarga- on Tuesday. It is very likely to move nearly northwards initially until June 2 and then recurve north- northeastwards and cross north Maharashtra and south Gujarat coasts between Harihareshwar and Daman on June 3.
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03 Jun Lunar Eclipse 2020: Strawberry Moon Eclipse set to occur on June 5 The penumbral lunar eclipse in June this year is called the ‘Strawberry Moon Eclipse’ -- 57 per cent of the moon is expected to pass into the Earth’s penumbra.
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The penumbra is much fainter than the dark core of the Earth’s shadow, and hence it might be difficult to tell it apart from a normal full moon. The penumbral lunar eclipse in June this year is called the ‘Strawberry Moon Eclipse’. During ‘Strawberry Moon Eclipse’, 57 per cent of the moon is expected to pass into the Earth’s penumbra. The penumbral lunar eclipse or Chandra Grahan means that the moon will travel through the faint penumbral portion of Earth’s shadow. The next two lunar eclipses (also penumbral) of 2020 will be on 4-5 July and 29-30 November.
05 Jun Lawsuit against Trump for signing executive order targeting social media sites The suit argues that the Executive Order violates the First Amendment by curtailing and chilling the constitutionally protected speech of online platforms and individuals.
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CDT filed suit today because the President's actions are a direct attack on the freedom of speech protected by the First Amendment. The government cannot and should not force online intermediaries into moderating speech according to the President's whims. Blocking this order is crucial for protecting freedom of speech and continuing important work to ensure the integrity of the 2020 election. The executive order is designed to deter social media services from fighting misinformation, voter suppression, and the stoking of violence on their platforms, the digital rights group said.
05 Jun India has lost 750 tigers in last eight years Of these total tiger mortalities, 369 were due to natural causes, 168 due to poaching, 70 deaths are under scrutiny and 42 due to unnatural reasons
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There was also the seizure of 101 big cats during the eight-year period between 2012 and 2019 by different authorities across the country, the National Tiger Conservation Authority (NTCA) said in reply to an RTI query. The NTCA was asked to share the details of tiger deaths between 2010 and May 2020. However, it provided data only for the eight years beginning in 2012. The NTCA did not provide the details of action taken in these tiger death cases in response to the RTI application.
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06 Jun MasterCard,, Axis Bank,, Worldline launch app-based POS platform The solution enables face-to-face payments with Bharat quick response (QR) and near field communications (NFC) payments, as well as remote payments for home deliveries via link-based payments.
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The solution enables face-to-face payments with Bharat quick response (QR) and near field communications (NFC) payments, as well as remote payments for home deliveries via link-based payments. The application also allows banks to have complete visibility of a merchant’s transactions, making it easier for small merchants to get business loans. The solution is available as a white-label solution to all banks and payment aggregators in the industry, the release further said.
07 Jun ISRO signs MoU with ARIES for cooperation in Space Situational Awareness,,
Astrophysics Space objects orbital tracking, analysis and space weather studies are important aspects in Space Situational Awareness and Management to safeguard Indian space assets from critical conjunction threats from space debris.
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The Memorandum of Understanding was signed by R Umamaheswaran, Scientific Secretary of ISRO and Dipankar Banerjee, Director of ARIES, Nainital through videoconference mode at ISRO and ARIES Headquarters' on June 4. This MoU will pave the way for future collaborations between ISRO and ARIES in establishing optical telescope observational facilities for space object tracking, R&D studies in space weather, astrophysics and Near-Earth Object.
07 Jun Facebook removes nearly 200 accounts tied to ''white supremacy'' hate groups The accounts on Facebook and Instagram were tied to the Proud Boys and the American Guard, two hate groups already banned for violating rules prohibiting hate speech.
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Officials were already monitoring the accounts in preparation for removing them when they saw posts attempting to exploit the ongoing protests prompted by the death of George Floyd in Minneapolis. The company did not divulge details of the account users — such as their specific plans for protests or where in the U.S. they live. It said “approximately” 190 accounts were removed overall. The accounts and related pages were used to impersonate local citizens, politicians and news organizations. More than 3.8 million accounts followed one or more of the pages, and more than 171,000 people had followed one of the fake Instagram accounts.
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10 Jun Flipkart starts voice assist in multiple languages to make shopping simpler Online retailer Flipkart said it has introduced ‘voice assistant’ capability on its platform, to make consumers’ e-commerce journey simpler and more natural. Introduced in Flipkart’s grocery store, Supermart, the ‘voice assistant’ will enable consumers to discover and buy products easily using voice commands in multiple languages, starting with Hindi and English.
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The voice-first conversational AI platform has been built by Flipkart’s in-house technology team with solutions for speech recognition, natural language understanding, machine translation, and text-to-speech for Indian languages. These solutions are capable of understanding vernacular languages such as Hindi, e-commerce categories and products, and tasks such as searching for a product, understanding product details and placing an order. The AI platform is built to automatically detect the language spoken by the user, and in real-time transcribe, translate, transliterate and understand the user’s intent to have engaging shopping-related conversations in various Indian languages.
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13 Jun Biocon''s Semglee,, an insulin glargine injection,, gets US FDA approval The Bengaluru-headquartered company also commits to provide affordable insulin at Rs 7 per day to lower and middle income countries as compared to Rs 350 per day currently
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The FDA has given the nod to the insulin in the vial and pre-filled pen format to control high blood sugar in both type-1 and type-2 diabetes patients. Glargine is the third Biocon-Mylan biosimilar to be approved in the US market after fulfil and trastuzumab, both used for treating cancer. Apart from these, the company’s biologics licence application for bevacizumab is currently under review with the USFDA and it says it is on track with the development of insulin aspart for global markets.
17 Jun WhatsApp launches payments service in Brazil In 2018, the Facebook-owned company had started testing the service in India, which allows users to utilise the messaging platform to send and receive money.
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In 2018, the Facebook-owned company had started testing the service in India, which allows users to utilise the messaging platform to send and receive money. However, the ambitious plan has been caught in a bind over regulatory issues. In a Facebook post on Monday, its CEO Mark Zuckerberg said Brazil is the first country where it is widely rolling out payments in WhatsApp. In a blogpost, WhatsApp said it has built payments with security in mind and a special six digit PIN or fingerprint will be required to prevent unauthorised transactions.
17 Jun Apple''s App Store,, Apple Pay targeted by EU anti-trust regulators The case followed a complaint from Swedish music streaming service Spotify last year, which said Apple was unfairly restricting rivals to its own music steaming service Apple Music.
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The European Commission said one investigation would look into the mandatory use of Apple's proprietary in-app purchase system and rules preventing app developers from informing iPhone and iPad users of cheaper options elsewhere. Spotify welcomed the EU probe, saying it hoped regulators would treat the case with urgency. A smaller rival filed a similar grievance related to e-books and audiobooks in March this year.
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21 Jun Coronavirus | IIT-Palakkad develops ultrasound for COVID-19 screening IIT Palakkad (Kerala) has developed an automated lung ultrasound (LUS) for COVID-19 screening and monitoring through a cloud-based image analysis and scoring system.
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The app, the first of its kind in India, is now available for clinicians to perform automated analysis by just uploading the ultrasound video. The institute has developed the app in collaboration with clinical partners at La Paz Hospital, Madrid, Spain (Dr. Yale Tung Chen), Sree Chitra Institute of Medical Sciences and Technology (Dr. C. Kesavadas) and Government Medical College, Kottayam, (Dr. Kiran Vishnu Narayan).
22 Jun Indonesia’’s most volatile volcano spews ash in new eruption The 2,968-meter Merapi mountain is the most active of 500 Indonesian volcanoes. It has rumbled and generated dark hot clouds since last year.
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Mount Merapi’s clouds of ash, accompanied by a rumbling sound heard kilometers away, blanketed several villages on the main island of Java. Indonesia’s Volcanology and Geological Hazard Mitigation Center did not raise Merapi’s alert status, which already was at the third-highest level since it began erupting last August. Villagers living on Merapi’s fertile slopes are advised to stay 3 kilometers from the crater’s mouth and should be aware of the peril of lava.
24 Jun Apple gets rid of Intel,, switches to its own chips for Mac computers The silicon switch, which happened at WWDC 2020, brings the Mac into line with the company's iPhone and iPads, which already use Apple designed chips.
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Apple Chief Executive Tim Cook said it marked the beginning of a major new era for a product line powered the company's rise in the 1980s and its resurgence in the late 1990s. Silicon is at the heart of our hardware, Cook said during a virtual keynote address recorded at the company's Cupertino, California headquarters for its annual developer conference. Apple takes a 15 percent to 30 percent cut of the sales developers to make through the App Store, which is the only way to distribute software onto Apple's mobile devices.
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24 Jun China successfully launches last satellite for its BeiDou Navigation Satellite System BeiDou Navigation Satellite System (BDS) is touted to be a competitor to the Global Positioning System (GPS) of the US, taking another step to becoming a major space power.
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The satellite was launched on Tuesday morning from the Xichang Satellite Launch Centre in southwest China’s Sichuan Province. The satellite, the 55th in the family of BeiDou that means “Big Dipper” in Chinese, was successfully sent into space by a Long March-3B carrier rocket, according to the China Satellite Navigation Office. The BDS-3 satellite was originally scheduled to be launched on June 16, but it was later postponed due to technical problems which were discovered in pre-launch tests.
25 Jun State notifies Tillari forest as conservation reserve Tillari conservation reserve is located near the border of Maharashtra, Goa and Karnataka, connecting Mhadei sanctuary in Goa and Bhimgad in Karnataka.
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The Revenue and Forest departments on Tuesday issued a notification of the first such reserve in Sindhudurg district, and the 62nd in the State. Tillari conservation reserve is located near the border of Maharashtra, Goa and Karnataka, connecting Mhadei sanctuary in Goa and Bhimgad in Karnataka. Chief Minister Uddhav Thackeray said that the government will not neglect the protection of biodiversity of the State while taking it on the path of development. “The State will always give preference to save biodiversity.
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26 Jun Brazil suspends WhatsApp''s new payments system The payments system, launched last week in a nationwide rollout, allowed users to transfer funds to individuals or local businesses within a chat.
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The central bank said in a statement that rolling out the service without previous analysis by the monetary authority could damage the Brazilian payments system in the areas of competition, efficiency and data privacy. The system, launched last week in a nationwide rollout, allowed users to transfer funds to individuals or local businesses within a chat, attaching payments as they would a photo or video.
27 Jun Amazon agrees to buy self-driving startup Zoox for over $1 billion Amazon has stepped up its investment in the car sector, participating in a $530 million funding round early last year in self-driving car startup Aurora Innovation Inc.
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The report did not mention the exact purchase price and added Amazon is unlikely to disclose it when the deal is announced, likely to be on Friday. A majority of Zoox investors are getting their money back, with some making a positive return, the report added. Lux Capital, DFJ and Atlassian co-founder Michael Cannon-Brooks are some of the investors. Amazon has stepped up its investment in the car sector, participating in a $530 million funding round early last year in self-driving car startup Aurora Innovation Inc.
28 Jun Facebook to label all rule-breaking posts,, including U.S. President Trump’’s CEO Mark Zuckerberg had previously refused to take action against Trump posts saying that people deserved to hear unfiltered statements from political leaders.
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Facebook is also banning false claims intended to discourage voting, such as stories about federal agents checking the legal status at polling places. The company also said it is increasing its enforcement capacity to remove false claims about local polling conditions in the 72 hours before the US election. The policy changes come during a growing ad boycott campaign, called "Stop Hate for Profit," that was started by the several U.S.
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28 Jun Byju''s become a decacorn,, cross $10.5 bn valuation Byju's is rapidly narrowing the gap to become the most valuable startup in the country after digital payments firms Paytm, which is valued at around $16 billion.
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According to analysts and industry insiders, the Bengaluru-based firm clinched the new deal after showcasing to the US investors, the increase in the number of new students joining their online platform and the existing students spending more hours on online education at home due to the restrictions caused by the coronavirus outbreak. Byju’s which became a unicorn in 2018 (a company valued at over $1 billion) has taken just two years to become a decacorn (a firm valued at over $10 billion). In the past year, Byju’s has already seen huge growth and now has over 57 million registered students
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7. Defence
04 Jun Top Jaish-e-Mohammed commander among 3 terrorists killed in Pulwama Three Jaish-e-Mohammed (JeM) terrorists, including a top commander, were killed in an encounter with security forces at Kangan village of south Kashmir's Pulwama.
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A joint team of Army, police and CRPF cordoned off the village on a specific intelligence input about the presence of terrorists in that area. The gunfight began at dawn when security forces closed in on the house where the terrorists were present. The terrorists fired at the security forces, triggering the encounter. It is the second gunfight in the area in two days. On June 2, two JeM terrorists were killed in Tral area of Pulwama. Police had said both slain militants were Kashmiris.
05 Jun Modi-Morrison online summit: India,, Australia ink landmark defence pact India and Australia signed seven agreements, including a landmark deal for reciprocal access to military bases for logistics support, as both nations navigate fraught relations with China.
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During an online summit between Prime Minister Narendra Modi and his Australian counterpart Scott Morrison, the two nations signed a wide-ranging maritime declaration to support the rules-based maritime order in the Indo-Pacific region founded on respect for the sovereignty of all nations. The Mutual Logistics Support Agreement (MLSA) will allow militaries of the two countries to use each other's bases for repair and replenishment of supplies besides facilitating scaling up of overall defence cooperation. India has already signed similar agreements with the US, France and Singapore.
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17 Jun Over 20 soldiers,, including Commanding Officer killed at Galwan border clash with
China Tensions on the Indo-China border have spiked to the highest since 1962 after over 20 troops were killed in the face-off in Galwan valley that has seen a six-week long standoff underway with the People's Liberation Army (PLA).
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he Army said that the soldiers – including the Commanding Officer of 16 Bihar regiment in charge of the area died while a `de-escalation process’ was underway. The Indian death toll is perhaps the worst single-day loss in decades and has come at a time when thousands of troops are forward-deployed in Eastern Ladakh. ET was the first to report on May 12 about a massive troop build-up in the Galway valley, which is an old flashpoint that had seen action in the 1962 war as well.
22 Jun Army ''holding'' clash area,, PLA blocking 8km Pangong stretch Chinese soldiers have built dozens of new fortifications and bunkers after physically occupying an almost 8-km stretch along the Pangong Tso since early-May.
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Chinese troops have also taken control of the heights to dominate 'Finger-4 to 8' area on the north bank of Pangong Tso, adroitly utilizing the time when bilateral military talks were underway on the troop confrontations at Patrolling Points 14, 15 and 17 in the Galwan Valley and Gogra-Hot Springs areas. The Indian Army is now "holding" the area near PP-14 in the Galwan Valley region, which was the location of the bloody skirmish that left 20 Indian soldiers dead and 76 injured on June 15.
22 Jun Galwan Valley face-off: India changes rules of engagement at LAC India has already mobilised fighter jets and sent thousands of additional Army troops to forward locations along the border with China after 20 Indian Army personnel were killed.
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India has already mobilized fighter jets and sent thousands of additional Army troops to forward locations along the border with China after 20 Indian Army personnel were killed in violent clashes with the Chinese troops in eastern Ladakh’s Galway Valley on June 15. The meeting was attended by Chief of Defence Staff Gen Bipin Rawat, Army Chief Gen MM Naravane, Navy Chief Admiral Karambir Singh, and Air Chief Marshal RKS Bhadauria.
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24 Jun Indian,, Chinese militaries agree to disengage from friction points in eastern Ladakh:
Sources The talks were held in the midst of escalating tension between the two countries following the violent clashes in Galwan Valley last week that left 20 Indian Army personnel dead.
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The talks were held in a "cordial, positive and constructive atmosphere" and it was decided that modalities for disengagement from all areas in eastern Ladakh will be taken forward by both the sides. On Monday, Lt Gen Harinder Singh, the commander of the 14 Corps, held a nearly 11-hour meeting with Commander of the Tibet Military District Maj Gen Liu Lin in an attempt to lower the temperature between the two sides.
24 Jun India asks Pakistan to reduce high commission staff by half within 7 days The decision was based on instances of alleged involvement of Pakistani officials in "acts of espionage" and dealings with terrorist organisations.
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The Ministry of External Affairs said the Charge d' Affaires of Pakistan High Commission was summoned and informed about the decision which was based on instances of the alleged involvement of Pakistani officials in "acts of espionage" and dealings with terrorist organizations. The MEA said the Charge d' Affaires of Pakistan High Commission was summoned to the ministry and informed that India had repeatedly expressed concern about the activities of officials of his High Commission.
26 Jun Pakistan-North Korea can route nuclear weapons tech via China-Turkey: German
report The recently prepared report suspected that Pakistan and North Korea are making efforts to procure some raw material for such weapons or technology under garb of dual use items from Germany and elsewhere in Europe.
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The recently prepared report suspected that Pakistan and North Korea are making efforts to procure some raw material for such weapons or technology under the garb of dual-use items from Germany and elsewhere in Europe. The report further alleged that these items can be routed to Pakistan and North Korea through their close ally China besides Turkey, ET has learnt. These references are part of the annual report of the Office for the Protection of the Constitution for the German State of Baden-Württemberg (a state in Southwest Germany) for the year 2019 was released on June 16.
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8. Sports
01 Jun Vinesh Phogat to be nominated for Khel Ratna,, Sakshi Malik for Arjuna Vinesh, who is the lone woman wrestler to have qualified for the now-postponed Tokyo Olympics, had missed out on the honour last year with fellow grappler Bajrang Punia getting the prestigious award.
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She has been consistent in the last three years, winning Asian Games gold in Jakarta. She qualified for the Tokyo Games by winning a bronze at the World Championship in Nur Sultan in 2019. She had got Khel Ratna in 2016 along with gymnast Dipa Karmakar and shooter Jitu Rai. Recently she lost twice to young grappler Sonam Malik, who stopped the elite athlete from making the cut even for the Asian Olympic Qualifiers.
02 Jun Boxing | BFI nominates Panghal,, Krishan for Khel Ratna The Boxing Federation of India recommended three other Worlds medallists - Lovlina Borgohain, Simranjit Kaur and Manish Kaushik - for the Arjuna Award.
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The BFI recommended three other Worlds medallists Lovlina Borgohain, Simranjit Kaur and Manish Kaushik for the Arjuna Award. Panghal also won golds at the last Asian Games and Asian championships and a silver at the 2018 Commonwealth Games. He became the first male boxer from the country to win a silver at the World Championships last year. Panghal has not been considered for any National Sports Award so far because of the suspension he has served for an anti-doping rule violation.
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03 Jun India women''s hockey team captain Rani Rampal nominated for Khel Ratna Rani has led the India team to historic victories in the Women's Asia Cup in 2017, silver at the 2018 Asian Games and in the Tokyo Olympic Qualifiers.
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Rani has led the India team to historic victories in the Women's Asia Cup in 2017, silver at the 2018 Asian Games and played a critical role in the Olympic Qualifiers in 2019 by scoring the deciding goal that helped in their qualification for the Tokyo Olympics. In this period, the Indian eves also climbed to a career-best world ranking of No.9. First from India to be named as the World Games Athlete of The Year 2019, Rani has also been the recipient of the Arjuna Award in 2016 and the prestigious Padma Shri award in 2020.
04 Jun Archer Jyothi Surekha nominated for Khel Ratna Archer V. Jyothi Surekha has won 33 international medals including nine gold, 13 silver and 11 bronze - 7 are in World Cups, three in World championships and two each in Junior Worlds and the SAG.
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The 24-year-old Surekha has been competing at the highest level for close to a decade and had won 33 international medals including nine gold, 13 silver and 11 bronze. The State Government has also recommended the names of hockey player E. Rajani, roller-skaters R. Arun Kumar and Rokhaiyya Farheen Shaik and Priyan Rated for Arjuna Award. Kabaddi and kho kho international P. Padmaja and badminton coach P.U. Bhaskar Babu for Dronacharya Award,
04 Jun AFI confirms Khel Ratna recommendation for Neeraj Chopra Asian Games gold medallists Arpinder Singh (triple jump) and Manjit Singh (800m) and reigning Asian champion middle distance runner P U Chitra were recommended for the Arjuna Award, besides Dutee.
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A panel formed by the Sports Ministry will shortlist the nominations received from various national federations with the awards to be presented on National Sports Day, August 29. The 22-year-old Chopra has already being conferred with the Arjuna Award in 2018 after winning a gold at the 2018 Commonwealth. In that year, he was also recommended for the Khel Ratna. He had also won the gold at the 2018 Asian Games. Chopra has already qualified for the postponed Tokyo Olympics.
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05 Jun Golfers Rashid,, Aditi and Diksha recommended for Arjuna Award Rashid is the highest-ranked Indian male golfer in the world, while Aditi is the only woman golfer from the country to be currently playing on the Ladies PGA Tour in the US.
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Their names were recommended by the Indian Golf Union (IGU). Professional bodies Professional Golf Tour of India (PGTI) and the Women’s Golf Association of India (WGAI) often send their recommendations to IGU. Rashid missed an individual bronze medal by one shot, but helped the Indian team win a team silver in Guangzhou Asian Games in 2010. He is the highest-ranked Indian in Asia at 10th and is also the top Indian in the world at 185th. He won two titles on the Asian Tour in 2014, and has triumphed eight times on the domestic Tour.
16 Jun Hima Das nominated for Khel Ratna Country’s top sprinter Hima Das, who had a stellar 2018, has been nominated for the prestigious ‘Khel Ratna’ by the state government of Assam.
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Assam sports secretary Dulal Chandra Das sent the letter of recommendation to the sports ministry on June 5. The 20-year-old from Dhing village in Assam is one of the youngest nominees for Khel Ratna this year. India’s first track athlete to win a global title at U20 World Championship in Tampere, Finland in 2018, Hima will compete with ace javelin thrower Neeraj Chopra, wrestler Vinesh Phogat. TT player Manika Batra, women’s hockey captain Rani Rampal and cricketer Rohit Sharma for country’s highest sporting honour.
18 Jun Bayern Munich win 8th straight Bundesliga title Bayern powered to its 30th German title with a perfect record of seven wins in the Bundesliga since it resumed last month in empty stadiums amid the coronavirus pandemic.
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Robert Lewandowski’s goal earned a hard-fought, physical win over Werder which became a battle after Alphonso Davies was sent off in the 79th minute. The win put Bayern 10 points clear of second-place Borussia Dortmund, which can earn a maximum nine points from its three remaining games. Werder, which is fighting against relegation, kept Bremen at bay for most of the first half but the champions still found a breakthrough.
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25 Jun World Karate Federation provisionally de-recognises KAI WKF made it clear that it was unhappy with the infighting within the Karate Association of India, which resulted in a flawed election process in January last year.
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WKF made it clear that it was unhappy with the infighting within the KAI, which resulted in a "flawed" election process in January last year. An appeal can be presented before the Disciplinary and Legal Commission within 21 days following the notification of the provisional affiliation or disaffiliation decision by the Executive Committee and/or the final affiliation or disaffiliation decision by the Congress. The issue relates to the KAI elections in January 2019 that had no presence of an observer from the IOA and there have been allegations that the process was not valid.
26 Jun Australia,, New Zealand to co-host 2023 Women''s World Cup At least $100 million is expected to be paid by the governing body in 2023 - for prize money, team preparation costs and to clubs releasing players for the tournament.
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The winning bid proposed 12 cities with seven in Australia and five in New Zealand. It includes the main stadium used for the 2000 Sydney Olympics. After a successful World Cup last year, FIFA wants the next women’s tournament to further establish its independence from the men, and show it is commercially attractive. The 2023 tournament will be the first time a World Cup for men or women will be shared across two continental bodies, and the first co-hosted women’s edition.
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26 Jun English Premier League 2020: Liverpool crowned champions after 30 years Liverpool, who have won the English top flight for the first time since 1990, their maiden title in the Premier League era, have 86 points from 31 matches.
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Pep Guardiola’s City cannot topple Liverpool anymore as they will finish with 84 points even if they win all their remaining matches, which is still two points short of what Liverpool already have. Chelsea took the lead in the match after Christian Pulisic made the most of a defensive mistake from the visitors to slot home past Ederson in the 36th minute. The first half was evenly contested with both teams creating chances before Pulisic put the ’Blues’ ahead.
30 Jun India''s Nitin Menon becomes youngest umpire to enter ICC Elite Panel Nitin Menon has become the third Indian umpire to be included in the ICC’s Elite Panel of umpires, with cricket’s governing body announcing his elevation to the top tier.
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The 36-year-old, who has officiated in three Tests, 24 ODIs and 16 T20Is, is only the third umpire from India to make it to the prestigious panel after former captain Srinivas Venkatraghavan and Sundaram Ravi, who got the axe last year. A selection panel comprising ICC General Manager (Cricket) Geoff Allardice (Chairman), former player and commentator Sanjay Manjrekar, and match referees Ranjan Madugalle and David Boon, picked Menon, who was earlier part of the Emirates ICC International Panel of Umpires.
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9. People
APPOINTMENTS AND RESIGNATIONS
02 Jun Indian-American aerospace expert Vivek Lall appointed General Atomics Chief
Executive General Atomics is the principal private sector participant in thermonuclear fusion research through its internationally recognized DIII-D and inertial confinement programs.
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Lall had resigned in April as vice president of Aeronautics Strategy and Business Development at Lockheed Martin, an American security and aerospace giant, to spend more time with his family in San Diego, where he resides. However, weeks later the world's premier drone manufacturer roped him in. General Atomics (GA) is one of the world's leading privately held nuclear and defense company.
02 Jun Pradip Kumar Tripathi takes charge as Steel Secretary Mr. Tripathi succeeds Binoy Kumar, who superannuated on May 31, 2020. He is an IAS officer of 1987 batch of Jammu and Kashmir (JK) cadre.
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In April, the government had appointed Tripathi as Steel Secretary. He is an IAS officer of 1987 batch of Jammu and Kashmir (JK) cadre. Prior to this, Mr. Tripathi had been posted as Special Secretary and Establishment Officer in Department of Personnel and Training (DoPT)
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04 Jun Twitter names former Google CFO Pichette as board chairman Pichette, who had been Twitter's lead independent director since the end of 2018, will replace Omid Kordestani in leading the directors as chairman.
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Pichette, who had been Twitter's lead independent director since the end of 2018, will replace Omid Kordestani in leading the directors as chairman. Kordestani supervised the board and had more day to day involvement with the company as executive chairman for nearly five years. Kordestani will stay on as a director, serving on the 11-member board alongside three new directors.
04 Jun Ex-MEA spokesperson Raveesh Kumar to be India''s next Ambassador to Finland Kumar, a 1995-batch Indian Foreign Service officer, served as the spokesperson of the MEA from July 2017 to April 2020. In Finland, he succeeds Vani Rao.
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Kumar, a 1995-batch Indian Foreign Service officer, served as the spokesperson of the MEA from July 2017 to April 2020 during which he deftly articulated India's position on a number of sensitive issues including last year's Balakot strike, reorganisation of Jammu and Kashmir and the controversy surrounding the National Register of Citizens. Before becoming the MEA spokesperson, Kumar was serving as Consul General of India in Frankfurt. Kumar started his career at the Indian Mission in Jakarta and it was followed by his postings in Thimpu and London.
04 Jun Uday Kotak takes over as CII president Mr. Kotak takes over from Vikram Kirloskar, chairman and MD of Kirloskar Systems. Additionally, Sanjiv Bajaj, chairman and MD of Bajaj Finserv Ltd., has taken over as the vice-president of CII.
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Mr Kotak takes over from Vikram Kirloskar, chairman and MD of Kirloskar Systems and vice-chairman of Toyota Kirloskar Motor. Mr Kotak has been associated with CII for over two decades and has served as Chairman of CII Economic Affairs Council, Financial Sector Development Council, Services Council, Corporate Governance Council, Banking Committee, Capital Markets Committee and Financial Services Committee.
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05 Jun India appoints Brajendra Navnit as Ambassador to WTO Navnit has succeeded JS Deepak, a 1982 batch IAS officer of Uttar Pradesh cadre, whose tenure as India’s Ambassador to the global trade watchdog ended on May 31.
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The Appointments Committee of the Cabinet approved his appointment for a period of three years from the date of assumption of charge. His appointment comes at a time when the world is grappling with the Covid-19 pandemic and global trade is forecast to plummet to historic lows. WTO has projected the decline in world trade to exceed the trade slump brought by the global financial crisis of 2008- 09 with merchandise trade expected to decline 13-32% in 2020 due to the Covid-19 pandemic. WTO director-general Roberto Azevêdo has decided to step down effective August 31.
09 Jun Volkswagen replaces Herbert Diess as chief executive of the VW brand Volkswagen replaced Herbert Diess as chief executive of the VW brand and installed chief operating officer Ralf Brandstaetter to lead cost cutting efforts.
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Volkswagen said Brandstaetter would take over on July 1 to give Diess, who remains group chief executive, more leeway to run the rest of the company which includes brands such as Audi, Bentley, Skoda, Lamborghini and Porsche. The reshuffle at the top of the world's largest carmaker comes as Diess attempts to get the company's powerful labour leaders, who control nine of the 19 seats on the supervisory board, to agree to painful costs cuts.
11 Jun Vivek Gambhir resigns as Godrej MD Gambhir took over as GCPL's MD and CEO in July of 2013, succeeding A Mahendran. GCPL Chairperson Nisaba Godrej will take up the additional role of MD, effective July 1.
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GCPL Chairperson Nisaba Godrej will take up the additional role of MD, effective July 1. A former partner at Bain and Co in India, Gambhir, 51, joined the Godrej Group in 2009, driving the mergers and acquisitions in the company as chief strategy officer. chart He took over as GCPL's MD and CEO in July of 2013, succeeding A Mahendran, who retired on June 30, 2013. Godrej, who is currently serving as a whole-time director, has been appointed as MD till the conclusion of her existing term.
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11 Jun U.S. Senate confirms first black Air Force Chief of Staff The U.S. Senate confirmed General Charles Brown as the first African-American military service chief, voting unanimously to make him Air Force chief of staff.
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The military has been doing a mixture of damage control and soul-searching on race amid the protests, as Republican President Donald Trump sent in the National Guard to control demonstrations and threatened to deploy active-duty troops against U.S. citizens. There have been waves of protests across the United States and other countries over the past two weeks sparked by the May 25 death of George Floyd, a black man killed while in Minneapolis police custody after an allegation that he had used a counterfeit $20 bill to buy cigarettes.
13 Jun Biswajit Dasgupta takes charge as Eastern Naval Command (ENC) Chief of Staff Vice Admiral Biswajit Dasgupta took charge as the Chief of Staff of Eastern Naval Command (ENC) on Friday. Vice Admiral S.N Ghormade, the outgoing Chi
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An alumnus of the National Defence Academy (NDA), Vice Admiral Dasgupta was commissioned into the Indian Navy in 1985 and is a specialist in navigation and direction. He has commanded frontline ships including the missile corvettes INS Nishank, INS Karmuk, stealth frigate INS Tabar and the aircraft carrier INS Viraat. He has held other operational, training and staff appointments such as Commander Work Up at Headquarters at Indian Naval Workup Team (Kochi), Directing Staff at the Defence Services Staff College (Wellington), Officer-in-Charge of the Navy’s Navigation.
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14 Jun Javed Iqbal Wani sworn in as Jammu and Kashmir High Court judge Justice Javed Wani has become the second Kashmir-based judge in the High Court of Union Territories of J&K and Ladakh, after Justice Magrey.
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The ceremony was held around 11 a.m. and was webcast live. Justice Ali Mohammad Magrey and Justice Dheeraj Singh Thakur were personally present on the occasion, while other sitting judges joined the ceremony through video conferencing. Justice Wani has become the second Kashmir-based judge in the High Court of Union Territories of J&K and Ladakh, after Justice Magrey. The President, High Court Bar Association-Jammu, congratulated the newly appointed judge. With his appointment, the strength of J&K High Court has increased to thirteen. The High Court has a sanctioned strength of 17 Judges — 13 permanent and four additional judges.
20 Jun Wirecard CEO Markus Braun quits as search for missing billions hits dead end in
Asia Markus Braun, who built the German company into one of the hottest investments in Europe, leaves Wirecard facing a looming cash crunch amid allegations of fraud over the missing money.
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Markus Braun, who built the German company into one of the hottest investments in Europe, leaves Wirecard facing a looming cash crunch amid allegations of fraud over the missing money. In a statement, the company said James Fries, a former compliance officer at Germany's stock exchange, had been appointed as interim CEO. Wirecard is holding emergency talks with banks to secure a financial lifeline, three people with knowledge of the matter said, after its auditor, EY, refused.
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20 Jun Former RBI Governer Urjit Patel appointed as NIPFP Chariman The appointment indicates a return to the fold of the finance ministry after Patel resigned as RBI governor in 2018 citing personal reasons, with nine months remaining in his term.
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Patel will start his four-year tenure on June 22, succeeding former NIPFP chairman, Vijay Laxman Kelkar. National Institute of Public Finance & Policy is privileged to have Dr Urjit Patel, former Reserve Bank Governor, as its Chairperson for a four-year term commencing June 22, 2020. The NIPFP was set up as an autonomous research organisation by the finance ministry, Planning Commission and some state governments and academicians.
21 Jun BJP wins lone Rajya Sabha seat from Manipur The BJP won the lone Rajya Sabha seat from Manipur even though a Congressled coalition of parties met the governor and demanded a floor test in the assembly, calling the BJP Government a minority one.
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The Rajya Sabha election was held amid high political drama in the state, where nine MLAs supporting the BJP-led government on Wednesday withdrew their support and said they would back the Congress. While the poll result is a face-saver for Biren Singh, the opposition is likely to challenge it in court. Manipur’s titular king L Sanajaoba defeated T Mangi Babu of the Congress winning 28 votes against 24, even as the speaker allowed four of seven former Congress MLAs who have been barred by the Ma ..
23 Jun Standard Chartered appoints Gaurav Maheshwari as CFO - India He has taken over from Subhradeep Mohanty, who was elevated as CFO, Africa & Middle East (AME) region. He has previously worked with companies like Coca-Cola and Reuters.
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This would be Maheshwari’s second stint at the foreign lender where he had put in 17 years in various roles in the finance team. In his career spanning over 23 years, he has also worked with companies like Coca-Cola and Reuters. In this role, Maheshwari will report to Jean Fernandes, Regional CFO, ASEAN and South Asia, and Zarin Daruwala, India, CEO. The India franchise has scripted an inspiring performance over the last few years and we look forward to Gaurav playing a vital role in continuing with this momentum.
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26 Jun Cricketer Clare Connor to be first female MCC president in 233 years Connor, now the England and Wales Cricket Board's head of women's cricket, is set to take up her new post on October 1, 2021, subject to the membership's approval.
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The nomination of Connor, who is currently the ECB’s managing director of women’s cricket, was announced by Sangakkara himself via video during Wednesday’s Annual General Meeting. Connor will take up the post on October 1 next year, pending approval by the Club’s Members, as Sangakkara has been invited to remain in the role for a second twelve-month tenure due to the impact of COVID-19 on the cricketing landscape. The Ashes win was the culmination of her six-year stint as captain of her country, retiring from the game shortly thereafter.
28 Jun Vini Mahajan appointed new Punjab Chief Secretary Vini Mahajan took over as the first woman Chief Secretary of Punjab. Ms. Mahajan replaced Karan Avtar Singh, who had a stand off with a few State ministers.
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A 1987-batch IAS officer, Vini Mahajan, on Friday became the first woman bureaucrat in the history of Punjab to be elevated to the top post of the state’s Chief Secretary. With her elevation, it is also for the first time in Punjab’s history that both the civil and police administrations in the state are headed by an IAS-IPS couple. Mahajan is the wife of state DGP Dinkar Gupta. She took charge as the new Chief Secretary on Friday replacing Karan Avtar Singh, who has now been posted as Special Chief Secretary, Governance Reforms and Public Grievances.
AWARDS AND RECOGNITIONS
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06 Jun Biocon MD Kiran Mazumdar-Shaw named EY World Entrepreneur Of The Year Kiran, 67, founded Biocon, a bio-enzymes company, in 1978 with just two employees and $500. The company is now employs more than 11,000 people.
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The Biocon MD was picked from among 46 nominations from 41 countries. She also becomes the second woman to hold the title, following Olivia Lum of Hyflux Limited from Singapore in 2011. Kiran, 67, founded Biocon, a bio-enzymes company, in 1978 with just two employees and $500. The company now employs more than 11,000 people. She is the third award winner from India. Managing Director of Kotak Mahindra Bank, Uday Kotak (2014) and Infosys founder Narayana Murthy (2005) are the former recipients.
24 Jun Rock band Queen honoured with Royal Mail stamps for 50th anniversary The latest Royal Mail series stamps will have prints of Queen, the veteran rock band which featured the legendary Freddie Mercury as the frontman.
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The set of 13 stamps will go on sale from July 9 and feature the artwork of the most popular album covers including Queen II, Sheer Heart Attack, A Night at the Opera, News of the World, The Game, Greatest Hits, The Works, and Innuendo. There will also be images from the band’s extravagant live performances and their first studio photoshoot in 1974, and of course four live images of band member Brian May, Roger Taylor, Freddie Mercury, and John Deacon.
30 Jun Ex-RBI governor Rangarajan gets lifetime achievement award on Stats Day Former Reserve Bank of India governor C Rangarajan has been conferred with the lifetime achievement award for his contribution to statistics on the occasion of Statistics Day.
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Besides heading RBI and the Prime Minister’s Advisory Council, Rangarajan was chairman of the National Statistical Commission, set up in 2000 to review the statistical system. Speaking on the occasion, chairman of the Economic Advisory Council to the Prime Minister, Bibek Debroy, said Covid-19 has raised the issue of paucity of government expenditure and the need for its re-prioritization towards the health sector Chief statistician Pravin Srivastava said the government will launch e-Sigma that will capture data using mobile devices.
OBITUARY
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01 Jun Bobby Joe Morrow,, 3-time winner in 1956 Olympics,, dies at 84 Bobby Joe Morrow was the Texas sprinter who won three gold medals in the 1956 Melbourne Olympics, the 100 and 200 meters and 400 relay with a world record.
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Morrow won the 100 and 200 meters in Melbourne and anchored the United States’ champion 400 relay team, matching the world record of 20.6 seconds in the 200 and helping the relay squad set a world record. Earlier in 1956 he successfully defended his AAU 100-yard title and swept the sprints for Abilene Christian at the national college championships. He was honored as “Sportsman of the Year” by Sports Illustrated, and won the AAU’s James E. Sullivan Award the following year.
14 Jun Vasant Raiji,, India’’s oldest first-class cricketer,, dies at 100 A Cricket Club of India player, he represented Bombay and Baroda. Vasant Raiji played nine First Class games in the 1940s and scored 277 runs.
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A Cricket Club of India player, he represented Bombay and Baroda. A right-handed batsman, Raiji played nine First- Class games in the 1940s and scored 277 runs. Raiji made his first appearance for Bombay in 1941 under Vijay Merchant, against Western Provinces, at Nagpur. His fascination for cricket began as a 13-year-old, watching Lala Amarnath notch up a debut century in India’s first home Test against Douglas Jardine’s England at Bombay Gymkhana in 1933.
OTHERS
11 Jun Shunji Sugaya who turned down SoftBank set to become billionaire Sugaya started his own company, Optim Corp., which now provides business-management platforms using artificial-intelligence and internet-of-things technologies.
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Optim’s shares have gained 79% this year after rising as much as 7.9% Wednesday, as doing business remotely became a necessity during the coronavirus pandemic. Optim has since expanded its remote-control technologies. Its Optimal Biz line, a management platform for multiple devices including smartphones and tablets, helps companies control and secure employees’ mobile equipment, with functions such as remote locking and the ability to wipe lost or stolen devices to prevent data leakage.
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26 Jun NBA legend Vince Carter retires after record 22 NBA seasons Carter appeared in 22 seasons and 1,541 NBA games, behind only Robert Parish (1,611) and Kareem Abdul-Jabbar (1,560) on the league’s all-time list.
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Carter appeared in 1,541 NBA games, behind only Robert Parish (1,611) and Kareem Abdul-Jabbar (1,560) on the league’s all-time list. He started his career with Toronto, then played for New Jersey, Orlando, Phoenix, Dallas, Memphis, Sacramento and spent his final two seasons with Atlanta. His final season was shortened by the coronavirus pandemic, and the Hawks will not be part of the 22 teams headed to the Disney complex near Orlando, Florida, next month for the planned resumption of NBA play.
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