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01st July 2022

National News


Karnataka government launched ‘Kashi Yatra’ scheme 

Karnataka government has launched the ‘Kashi Yatra’ scheme. The Kashi Yatra project, which offers a cash assistance of Rs 5,000 to each of the 30,000 pilgrims willing to conduct a pilgrimage to the Kashi Vishwanath Temple in Varanasi, Uttar Pradesh.  For this scheme, the government will be using funds of up to Rs 7 crores from the accounts head of ‘Assistance to Manasa Sarovara Pilgrims’ which was announced in the chief minister’s budget speech for the financial year.  Shashikala Jolle, the Minister for Religious Endowment, Hajj and Wakf, said, any pilgrim taking up the government-sponsored ‘Kashi Yatra’ would get the benefit only once in a life time.

Punjab households to get 300 units of free electricity from today: CM Mann

Punjab CM Bhagwant Mann said households across the state will get 300 units of free electricity each month from today. "This means that people will get zero amount bills. All electricity bills prior to December 31, 2021 will be waived off," Mann further said. AAP chief and Delhi CM Arvind Kejriwal, while congratulating Punjab's citizens, said, "We've fulfilled our promise."


India will have 122 unicorns in 25 cities within next 2-4 years 

According to a report by the Hurun Research Institute titled Hurun India Future Unicorn Index 2022, India is predicted to have 122 new unicorns in the following 2-4 years. The total worth of these potential unicorns is currently 49 billion US dollars. When a startup is valued at $1 billion USD, it is considered to be a Unicorn.  The city of Bengaluru, which currently has 33 unicorns, will receive 46 new additions, followed by Delhi NCR with 25, Mumbai with 16, Chennai with 5, and Pune with 3. Bengaluru currently has the most unicorns in the nation. It’s anticipated that the remaining unicorns will appear in 20 additional cities.  Tiger Global has invested in 27 of these potential Unicorns, followed by the international venture capital firm Sequoia Capital, which has invested in 39 of them.

International News

Ferdinand Marcos Jr. takes oath as Philippine president 

Ferdinand Marcos Jr, the son of late dictator Ferdinand Marcos Sr, won the elections on 9th May with 31.6 million votes and was swore as the 17th President of the Philippines.  He took the oath at the National Museum of Fine Arts in Manila before the Supreme Court Justice, Alexander Gesmundo.  The former President’s daughter and his running mate, Sara Duterte Carpio, swore as vice president on 19th June. The two will be serving the nation until 2028.

PM Modi congratulates Yair Lapid for assuming Premiership of Israel

PM Narendra Modi on Friday congratulated Yair Lapid for assuming the Premiership of Israel. "I look forward to continue furthering our strategic partnership as we celebrate 30 years of full diplomatic relations," PM Modi tweeted. Lapid took over as caretaker PM after the Israeli Parliament voted to dissolve itself on Thursday, setting the stage for a fresh election in November.


Ukraine begins electricity exports to EU: President Zelenskyy

Ukraine has started exporting electricity to the European Union via Romania, Ukrainian President Volodymyr Zelenskyy said. "Thanks to Ukrainian electricity, a significant part of the Russian gas used by European consumers can be replaced...[This is therefore] not just a question of export revenue for us, it is a question of security for the whole of Europe," he added.

Indian-origin tech businessman arrested for ₹356 crore investment fraud in US

A 50-year-old Indian-origin tech entrepreneur has been arrested in US for a $45 million (around ₹356 crore) investment fraud in which he allegedly cheated more than 10,000 people. Neil Chandran used a group of technology firms that he owned in a scheme to defraud investors. He promised extremely high returns by claiming his companies will be acquired by wealthy buyers.



RBI data: Credit card spending exceeded Rs. 1.13 billion in May 

May saw credit card spending reach an all-time high of $1.14 trillion, indicating that the retail sector is doing well.  According to Reserve Bank of India data, credit card spending increased 118 percent annually and 8 percent monthly as a result of strong e-commerce spending, high-value travel and tourism spending, and discretionary purchases.

₹1.5 lakh cr wiped off Reliance's market value as govt raises export duty on fuel

Nearly ₹1.5 lakh crore has been wiped out from the market capitalisation of Reliance Industries after its stock declined as much as 8.7% on Friday, marking its biggest intraday drop since November 2, 2020. The shares fell after the Centre raised export duty on fuel. ONGC shares also plunged by 12.3% on Friday, its biggest slide since March 23, 2020.

Sudhir Chaudhary resigns as Zee News CEO, will start own enterprise

Zee News Editor-in-Chief and CEO Sudhir Chaudhary has resigned from his position. In his resignation letter addressed to Essel Group chairman Subhash Chandra, Chaudhary said his decision was a "result of his internal deliberations" to "start his own enterprise". He also sought blessings from Chandra while parting ways with the company "with heavy heart".


HDFC yet to recover funds after sending ₹1,000 cr to some accounts due to glitch: Report

HDFC Bank is still attempting to recover funds from some customers in Tamil Nadu after it mistakenly transferred ₹1,000 crore into their accounts in May, BQ Prime reported. About ₹35-40 crore continues to remain with customers, the report said. The transfer of funds was caused due to a technical glitch, following which HDFC briefly froze many of these bank accounts.

What's included & what's not as 1% TDS on virtual digital assets comes into effect?

The rules governing the imposition of 1% TDS on the transfer of virtual digital assets (VDAs) of more than ₹10,000 has come into effect from today. All cryptocurrencies and NFTs, except tangible asset-backed NFTs, will be subject to TDS deduction. Further, the government has clarified that gift cards or vouchers, mileage points, reward points, and website subscriptions are not VDAs.

SEBI imposed Rs. 7 crore penalty on National Stock Exchange 

The Securities and Exchange Board of India (Sebi) has slapped heavy penalties in a 2015 ‘dark fibre’ case that saw certain brokers exploiting the National Stock Exchange’s (NSE’s) internet infrastructure to get faster connectivity to its colocation (colo) facilities.  The markets regulator has imposed a penalty of Rs 7 crore on NSE and Rs 5 crore on former Managing Director and Chief Executive Officer (CEO) Chitra Ramkrishna.

100% two-wheelers to be energised by FY27 

NITI Aayog and the Technology Information, Forecasting and Assessment Council (TIFAC) made an upbeat prediction that by FY2026-27, electric two-wheelers would be completely incorporated into the Indian market.  The Department of Science & Technology established the independent TIFAC in 1988 with the mission to forecast technological developments, evaluate technological trajectories, and foster innovation.

Defence News

DRDO carries out maiden flight of unmanned fighter aircraft in K'taka

The Defence Research and Development Organisation (DRDO) on Friday successfully carried out the inaugural flight of the Autonomous Flying Wing Technology Demonstrator from the Aeronautical Test Range in Karnataka's Chitradurga. "This flight marks a major milestone, in terms of proving critical technologies towards the development of future unmanned aircraft," an official statement said.



Successful flight testing of high-speed expendable aerial target ABHYAS in Odisha 

The Defence Research and Development Organization’s (DRDO) Abhyas high-speed expendable aerial target (HEAT), which was created as a target for the testing of missile systems, underwent a successful flight testing from the Integrated Test Range (ITR), off the coast of Odisha.  The Aeronautical Development Establishment (ADE), a DRDO unit with a Bengaluru location, created Abhyas.  The DRDO recently conducted numerous tests on Abhyas in various configurations.  Precision demonstrations of the aircraft’s performance at low altitude, including prolonged level flight and excellent manoeuvrability, were made.  The target aircraft was being tracked by a number of tracking sensors deployed by ITR, including radar and an electro-optical targeting system, as it was being flown from a ground-based controller in a predetermined low altitude flight route.

9th Army to Army Staff Talks between India and Australia held in Dehradun 

The ninth Army to Army Staff Talks, which were held in Dehradun, between the Australian and Indian armies were centred on developing a roadmap for improved defence cooperation and joint military exercises.  The Indian Military Academy (IMA) was the location of the discussions, where both parties went over the road map for initiatives promoting defence cooperation, according to the Army.  These initiatives include training sessions for both Armies, cadet exchange programmes between pre-commission training academies, bilateral exchanges of Austra hinds, subject matter expert exchanges in specialised fields, functional and high-level visits, interaction between think tanks, and virtual interactions in the fields of medical and doctrinal exchanges.


Awards News

Nitin Gadkari presented National Highway excellent Award 2021 

Lok Sabha Speaker Om Birla along with Minister for Road Transport and Highways, Nitin Gadkari gave away National Highways Excellence Awards-2021. Awards were given to the stakeholders and companies engaged in the highway construction and maintenance of road assets in New Delhi.  Excellence Awards were constituted in 2018 & awards were given away in 9 categories including Excellence in Project Management, Excellence in Highway Safety, Excellence in Toll Management, Excellence in Operation and Maintenance, Innovation, Green Highways, Outstanding Work in Challenging Condition, Bridge Construction and Tunnel Construction.

Sports News


Joe Root honoured with silver bat for completing 10,000 Test runs, ICC share pic

The ICC have shared a picture of former England captain Joe Root being presented with a silver bat to commemorate him for reaching 10,000 runs in Test cricket. Root reached the 10,000-run mark last month. He became the joint-youngest batter to reach the 10,000-run mark at the age of 31 years and 157 days, equalling Alastair Cook's record.


India Women defeat SL Women in Harmanpreet's 1st ODI as full-time captain

India Women defeated Sri Lanka Women by four wickets in first ODI in Pallekele on Friday. It was Harmanpreet Kaur's first match as full-time India ODI skipper. Chasing 172, India scored 176/6 in 38 overs, with Harmanpreet top-scoring with 44(63). All-rounder Deepti Sharma scored 22* and took three wickets, while other all-rounder Pooja Vastrakar hit 21* and scalped two wickets.

Adani Sportsline is principal sponsor of Indian Olympic Association

Adani Sportsline, the sports arm of the Adani Group, has inked a long-term principal sponsorship deal with the Indian Olympic Association (IOA).  It will be the official partner of the Indian contingent during the upcoming Birmingham Commonwealth Games 2022, the Hangzhou Asian Games 2022, and the Paris Olympic Games 2024.  The group had earlier been associated with the Indian contingent during the Tokyo Olympics in 2021.



Important Days

Chartered Accountants Day 2022 observed on 01st July 

The Chartered Accountants’ Day or CA Day is held on 01 July every year in India. It is also known as ICAI Foundation Day. The day is marked to commemorate the foundation of the Institute of Chartered Accountants of India (ICAI) on July 1, 1949.  ICAI is among the oldest professional institutions in the country and also the second largest professional accounting and finance body in the world in terms of members.

National Doctor’s Day celebrates on 1st July

India celebrates National Doctor’s Day on July 1, the birth anniversary of Dr Bidhan Chandra Roy, an eminent physician, academician, freedom fighter and politician. Doctor’s Day is celebrated globally on different dates.  The date changes from country to country. National Doctor’s Day marks the role of doctors who work tirelessly to ensure that patients remain in good health.  The day celebrates the efforts taken by the healthcare staff for their hardwork and dedication. Each year a new theme is given. For 2022, the theme for National Doctor’s Day is “Family Doctors on the Front Line.”

Obituaries News

Malayalam actor Ambika Rao passes away

Malayalam actor and assistant director Ambika Rao passed away at the age of 58. She entered the movie industry as an assistant director with the 2002 release ‘Krishna Gopalakrishna’ helmed by Balachandra Menon.  She forayed into the film industry as an assistant director in early 2000. She has assisted several directors, including Balachandra Menon, Anwar Rasheed, Shafi, and Vinayan. She also acted in many movies. Recently, she made a mark with her performances in hit films like Virus and Kumbalangi Nights.





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