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20TH MARCH 2022


N Biren Singh to be Chief Minister of Manipur for 2nd time: BJP

N Biren Singh is going to be the Chief Minister of Manipur for the second time, the BJP announced on Sunday. Singh was unanimously elected as the CM in the Manipur BJP legislature party meeting in Imphal. BJP's announcement comes 10 days after the party won 32 out of 60 Assembly seats in Manipur.

PM chairs meeting over govt formation in UP, U'khand, Goa: Reports

PM Narendra Modi chaired a meeting at his residence on Sunday over the government formation in Uttar Pradesh, Uttarakhand and Goa, as per reports. Union Ministers Amit Shah and Rajnath Singh, BJP National General Secretary (organisation) BL Santhosh, party President JP Nadda were reportedly present. Yogi Adityanath will take oath as UP CM for the second term on March 25.

When is a movie declared tax-free?

There are no fixed criteria for a film to claim or enjoy tax exemption and the decision to give up tax revenues by state governments are taken on a film-to-film basis. When a film deals with a socially relevant or inspiring subject, state governments waive tax on it to make it accessible to a wider audience.

Multipurpose women's co-op societies to start in all K'taka taluks

Karnataka Chief Minister Basavaraj Bommai on Sunday announced that the multipurpose women's cooperative societies will be started in every taluk of the state. The societies are understood to have 90% share capital from the state government. CM Bommai said the "government has decided to establish a milk producers bank to ensure that the profit goes to milk producers".

K'taka CM thanks PM for efforts to bring Naveen's body from Ukraine

Karnataka CM Basavaraj Bommai on Sunday wrote a letter to PM Narendra Modi to thank him for his efforts in bringing back the mortal remains of Naveen Shekharappa, who was killed in the Ukrainian city of Kharkiv. The fourth-year medical student from Karnataka was killed in a shelling attack. His mortal remains will reach Bengaluru on March 21.

MCL becomes the largest coal producing company in India
The Mahanadi Coalfields Limited (MCL), a unit of the CIL, has crossed 157 million tonne (MT) in coal production in the financial year of 2021-22, to become the leading coal producing company in the country.  On March 12, 2022, the company produced 7.62 lakh tonne of dry fuel which is the highest in a day during the current financial year reaching 157.7 MT with a growth of around 16 per cent over the last financial year.

CAMS launches Central Record Keeping Agency under NPS
Computer Age Management Services Limited (CAMS), India’s largest registrar and transfer agent of mutual funds (a SEBI regulated entity) has announced the go-live and launch of Central Record Keeping Agency (CRA) under the National Pension System (NPS).   CAMS is India’s largest registrar and transfer agent of mutual funds and is a SEBI regulated entity.  Sector regulator Pension Fund Regulatory and Development Authority (PFRDA) appointed CAMS as a CRA to broad-base the services to NPS subscribers and the ecosystem.

West Bengal celebrates Dol Utsav, welcomes spring season
The people of Bengal celebrated the festival of colours, predominantly known as Dol Utsav in the state through cultural programs, marking the onset of spring season.        People from all age groups came out in the streets in large numbers and smeared ‘gulal’ or ‘aabir’ on each other. Children cheerfully sprinkled coloured water on the passers-by, which they greeted with affection.



PM Modi clearly used his contacts to call for end of war: Australia

Australian High Commissioner to India Barry O'Farrell said the Quad nations of Australia, Japan and the US have accepted India's stand on the Russia-Ukraine conflict. "It's clear from the comments of...Prime Minister Narendra Modi...that he has used his contacts to call for the end of the conflict and no country will be unhappy with that," said O'Farrell.

Israeli PM Naftali Bennett to make his 1st visit to India on April 2

Israeli PM Naftali Bennett will arrive in India on his first official visit on April 2, according to a statement from his office. Bennett's visit comes on the occasion of the 30th anniversary of the establishment of diplomatic relations between the two countries. "This visit will reaffirm the important connection between the countries," the statement read.



NPCI launches on-device wallet feature for UPI users for small transactions
The National Payments Corporation of India (NPCI) has come out with the ‘on-device’ wallet feature for Unified Payments Interface (UPI) users, which will be known as “UPI Lite”, for facilitating small ticket transactions. This is aimed at reducing stress on the banking system and making the transaction process even simpler.  UPI Lite will process transactions in near offline mode i.e., debit offline and credit online, and at a later point, UPI Lite will process transactions in complete offline mode i.e., debit and credit both offline.

SBI to provide $1-bn credit line to Sri Lanka amid worsening economic situation
The finance ministry said that State Bank of India (SBI) will provide $1 billion credit facility to Sri Lanka for procurement of food, medicines and other essential items. Earlier, the Export-Import Bank of India (Exim Bank) had extended a line of credit of $500 million for financing the purchase of petroleum products to Sri Lanka which is facing a financial crisis.

Kotak Mahindra Bank signs MoU with Business France
Kotak Mahindra Bank Ltd has entered into a memorandum of understanding (MoU) with Business France, the French national agency in charge of the development of exports and international investments in France, to support companies in the Indo-French corridor.  The MoU will try to promote business and start-up ecosystem cooperation and identify business and investment opportunities in India and France

USAID, Mastercard partnership seeks to foster digital empowerment of women
US Agency for International Development (USAID) and Mastercard have partnered to foster digital empowerment of women in India through an initiative called ‘Project Kirana’.   Project Kirana is a business development and digital financial literacy programme for women entrepreneurs that aims to increase revenue streams, expand financial inclusion, and enable the adoption of digital payments and other digital tools by women-owned-and-operated kirana shops.  The two-year programme, implemented by DAI and ACCESS Development Services, is working in select cities of Uttar Pradesh, according to a statement released by Mastercard.

BPCL becomes the first company to offer digital payment to non-internet users
Bharat Petroleum Corporation Limited (BPCL), a ‘Maharatna’ and a Fortune Global 500 Company has partnered with UltraCash Technologies Pvt. Ltd. to offer a voice-based digital payment facility for BharatGas consumers for booking their LPG cylinders.    Through this feature, the consumers who do not have smartphones or internet can book their cylinders and make the payment through ‘UPI 123PAY’. With the introduction of this facility, around 4 crore consumers of BharatGas in rural India will stand to benefit.             BPCL is the first Company in India to offer their service to consumers after RBI Governor announced the launch of UPI 123PAY.

ISRO plans to increase number of launches, satellite manufacturing

short by Atharva Pande / 05:10 pm on 20 Mar 2022,SundayISRO Chairman S Somanath said the agency plans to increase the number of launches and satellite manufacturing. "ISRO is looking at the important tasks that can be done this year..." added Somanath. According to him, ISRO will look at increasing space missions with the Polar Satellite Launch Vehicle (PSLV), Geosynchronous Satellite Launch Vehicle (GSLV) and Small Satellite Launch Vehicle (SSLV).

Reliance Retail acquires 89% stake in women's innerwear brand Clovia

Reliance Retail Ventures Limited (RRVL) has acquired [SH1] an 89% equity stake in Purple Panda Fashions Private Limited, which owns and operates Clovia, a brand for women's innerwear and loungewear. Reliance made an investment of ₹950 crore through a combination of secondary stake purchase and primary investment. Clovia was launched in 2013 by Pankaj Vermani, Neha Kant and Suman Chowdhury.

Working to improve tax literacy & number of taxpayers: CBDT chief

CBDT Chairman JB Mohapatra said the Income Tax department is working to improve the "abysmally poor" tax literacy in the country to increase the number of taxpaying entities and enhance collections. "Banks have invested in expanding the banking knowledge of the people. That thing has not happened in (income) tax and that is on top of our mind," he said.

Govt plans to merge BBNL and BSNL this month: BSNL chief

Bharat Sanchar Nigam Limited (BSNL) Chairman and MD PK Purwar said the government has decided to merge BSNL and Bharat Broadband Nigam Limited (BBNL) this month. He added that the government has given BSNL an opportunity to turnaround their losses. With the proposed merger, BSNL will get 5.67 lakh kilometre of optical fibre network laid across 1.85 lakh village panchayats.


Suzuki to invest ₹10,440 cr to make electric vehicles, batteries in Gujarat

Japan's Suzuki Motor Corporation has announced plans to invest around ₹10,440 crore to locally manufacture electric vehicles (BEV) and BEV batteries in Gujarat. The memorandum of understanding was signed at India-Japan Economic Forum in the presence of PM Narendra Modi and Japanese PM Fumio Kishida. "We'll continue active investment in India to realise Atmanirbhar Bharat," Suzuki's President said.





Indian cueist Pankaj Advani wins 8th Asian Billiards C'ship title

Indian cueist Pankaj Advani defeated compatriot Dhruv Sitwala 6-2 to win his eighth title at 19th Asian Billiards Championship 2022 on Saturday in Doha, Qatar. Overall, it was the 24-time world champion's 12th Asian title. "This isn't a quadrennial event, it tests you every single year, every single match!" said Pankaj. Notably, it was 36-year-old Pankaj's 41st international title.


Telangana's veteran CPI(M) leader Mallu Swarajyam passes away at 91

Telangana's veteran communist leader Mallu Swarajyam passed away due to multiple organ failures in Hyderabad on Saturday. The 91-year-old CPI(M) member participated in the Telangana People's Armed Struggle (1946-51) against feudal lords and Razakars during the Nizam rule. As a candidate of CPI(M), she was elected to the state Assembly of undivided Andhra Pradesh for two terms (1978 and 1983).





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