India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN

The Government of India has made a whopping contribution of USD 1,169,746 for ‘Hindi @ UN’ project to expand the use of Hindi in the United Nations. The Government of India has been making continuous efforts to expand the use of Hindi in the United Nations.

Collaboration with the UN Department of Public Information

As part of these efforts, ‘Hindi @ UN’ project, in collaboration with the UN Department of Public Information, was launched in 2018 with an objective to enhance the public outreach of the United Nations in Hindi language, and to spread greater awareness about global issues among millions of Hindi-speaking people around the world, read a press release from India’s Permanent Mission to UN, New York. India has been partnering with the UN Department of Global Communications (DGC) since 2018 by providing an extra-budgetary contribution to mainstream and consolidate news and multimedia content of DGC in Hindi language.

A cheque of USD 1,169,746

To continue with this initiative, a cheque of USD 1,169,746 was handed over today by Ambassador R Ravindra, Cd’A & DPR, to Ian Phillips, Director and Officer In-Charge. Almost a year ago, India’s then Permanent Representative to the UN, Ruchira Kamboj handed over a cheque to Melissa Fleming, Under Secretary General of the United Nations Department of Global Communications towards the expansion of usage of the Hindi language in the United Nations.

About United Nations (UN)

The United Nations is a diplomatic and political international organization whose stated purposes are to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and serve as a centre for harmonizing the actions of nations.

Important takeaways for all competitive exams:

  • Founder countries in UN: United States, India, United Kingdom, Brazil, France, Iran, 51 more
  • UN was founded: 24 October 1945, San Francisco, California, United States
  • Subsidiaries: United Nations Security Council, UNESCO, 36 more
  • Area served by UN: World, International
  • Headquarters of UN: New York, New York, United States

 

India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN_4.1

T20 World Cup Winners List from 2007 to 2024, India Vs South Africa in the Final

Here, we are discussing about the winners of the ICC Men’s T20 World Cup from 2007 to 2024. The last tournament was in 2022 in Australia. England won against Pakistan in the final match on November 13th at the Melbourne Cricket Ground. They became the 2022 champions. Below is a list of all the past winners of the T20 World Cup.

ICC Men’s T20 World Cup 2024 Final and Semi-final Schedule

The table provides a comprehensive schedule for the semi-finals and finals of the ICC Men’s T20 World Cup 2024. It includes details such as the event, date, venue, local time, UTC time, and Indian time for each match, making it easy to follow the tournament’s crucial knockout stages. India and South Africa face each other in the final of the ICC Men’s T20 World Cup 2024.

Event Date Matches Results Venue Time (India)
1st semi-final Wednesday, June 26 South Africa v Afghanistan South Africa Brian Lara Cricket Academy, Tarouba, Trinidad and Tobago  6:00 AM
2nd semi-final Thursday, June 27 India v England India Guyana National Stadium, Guyana 8:00 PM
Final Saturday, June 29 South Africa vs India Yet to be decided Kensington Oval, Bridgetown, Barbados 8:00 PM

T20 World Cup Winners List from 2007 to 2024

ICC T20 Cricket World Cup is a global tournament organized by the International Cricket Council (ICC). It debuted in South Africa in 2007, with the most recent Men’s ICC T20 Cricket World Cup taking place in Australia from October 16th to November 13th, 2022. In this article, we are providing the T20 World Cup Winners List from 2007 to 2024.  Let’s have a look at the T20 World Cup Winners List from 2007 to 2024:

T20 World Cup Winners List from 2007 to 2024
Year Host Country Winner
2007 South Africa India
2009 England Pakistan
2010 West Indies England
2012 Sri Lanka West Indies
2014 Bangladesh Sri Lanka
2016 India West Indies
2021 UAE/Oman Australia
2022 Australia England
2024 Update soon Update Soon

T20 World Cup Winners List

The T20 World Cup winners list will help you to increase your sports general knowledge. Below, you’ll find a comprehensive breakdown of the ICC Men’s T20 World Cup champions, runners-up, Players of the Series, leading run-scorers, top wicket-takers, and host locations.

Year Winner Runner-Up Player of the Series Top Run Scorer Highest Wicket Taker Venue
2007 India Pakistan Shahid Afridi Matthew Hayden Umar Gul South Africa
2009 Pakistan Sri Lanka Tillakaratne Dilshan Tillakaratne Dilshan Umar Gul England
2010 England Australia Kevin Pietersen Mahela Jayawardene Dirk Nannes West Indies
2012 West Indies Sri Lanka Shane Watson Shane Watson Ajantha Mendis Sri Lanka
2014 Sri Lanka India Virat Kohli Virat Kohli Ajantha Mendis Bangladesh
2016 West Indies England Virat Kohli Tamim Iqbal Mustafizur Rahman India
2021 Australia New Zealand Mitchell Marsh Babar Azam Adam Zampa UAE/Oman
2022 England Pakistan Sam Curran Virat Kohli Wanindu Hasaranga Australia
2024 Update soon Update soon Update soon Update soon Update soon Update soon

T20 World Cup Winners List- Country-wise

When it comes to the top-performing cricket team in the T20 World Cup, West Indies stands out as the most successful. West Indies is the sole nation to have secured the ICC T20 World Cup championship twice, in 2012 and 2016, while India, Pakistan, England, and Sri Lanka have each claimed victory once.  Let’s have a look at the country-wise T20 World Cup winners list from 2007 to 2022.

Country Name No. of times Winner Year
West Indies 2 2012, 2016
India 1 2007
Pakistan 1 2009
England 2 2010, 2022
Sri Lanka 1 2014
Australia 1 2021

T20 World Cup Winners List

The T20 World Cup 2022 has concluded, and England emerged as the new champions of the ICC Men’s T20 World Cup. In the first semifinal, Pakistan competed against New Zealand, and Pakistan emerged victorious, becoming the first team to secure a spot in the final of the ICC T20 Men’s World Cup 2022. The second semifinal featured a match between India and England, with England winning by 10 wickets and becoming the second team to qualify for the finals.

T20 World Cup Winners List

Here, we are sharing the T20 world cup winners list in detail from 2007 to 2022.

T20 World Cup 2022 Winner- England

In the recently concluded T20 World Cup 2022, England emerged as the new champions. Pakistan secured their spot in the final by winning the first semifinal against New Zealand. England followed suit by defeating India with an impressive 10-wicket victory in the second semifinal. The final showdown saw England clinch the title, marking a significant achievement in the ICC Men’s T20 World Cup.

T20 World Cup 2021 Winner- Australia

Australia secured victory in the T20 World Cup 2021 by defeating New Zealand in the final. Dominating the match, Australia triumphed by 8 wickets, claiming their first ICC Men’s T20 World Cup title. Mitchell Marsh of Australia was named the player of the match in the final, adding to the team’s historic win.

T20 World Cup 2016 Winner- West Indies

In the T20 World Cup 2016, West Indies achieved a remarkable feat by winning the tournament for the second time. They outplayed England in the final, securing victory and becoming the first team to clinch the T20 World Cup trophy twice. Virat Kohli received the Player of the Series award, while Tamim Iqbal emerged as the highest run-scorer.

T20 World Cup 2014 Winner- Sri Lanka

Sri Lanka emerged victorious in the T20 World Cup 2014, defeating India in the final by 6 wickets. This marked Sri Lanka’s first T20 World Cup win, with Virat Kohli of India earning both the top run-scorer and Player of the Series accolades.

T20 World Cup 2012 Winner- West Indies

In the T20 World Cup 2012, West Indies secured their first title by defeating host nation Sri Lanka in the final. Shane Watson of Australia excelled as both the Player of the Series and the top run-scorer, while Ajantha Mendis of Sri Lanka claimed the highest wicket-taker title.

T20 World Cup 2010 Winner- England

England made history in the T20 World Cup 2010 by becoming the first non-Asian team to claim the title. They defeated Australia in the final, with Kevin Pietersen named the Player of the Series for his outstanding contributions.

T20 World Cup 2009 Winner- Pakistan

After being runners-up in the inaugural T20 World Cup, Pakistan redeemed themselves by winning the 2009 edition. Hosted by England, Pakistan emerged victorious by defeating Sri Lanka in the final. Tillakaratne Dilshan of Sri Lanka was the Player of the Series and top run-scorer.

T20 World Cup 2007 Winner- India

In 2007, India won the first T20 World Cup, with MS Dhoni as the captain. They defeated Pakistan in an exciting final match. Throughout the tournament, India lost only once, to New Zealand in the Super 8 stage. India’s path to the championship was highlighted by their strong team performance, defeating teams like England and South Africa along the way.

In the semi-final against Australia, Yuvraj Singh was spectacular, scoring 70 runs from just 30 balls. He also famously hit six sixes in one over in an earlier match against England. Other key players included Rohit Sharma and MS Dhoni, who played well, especially against South Africa. The bowlers, including RP Singh, Irfan Pathan, and Sreesanth, were consistent throughout the tournament.

The final match against Pakistan was very close. Gautam Gambhir scored 75 runs, and a quick score from Rohit Sharma helped India set a target of 158 runs. Irfan Pathan was excellent in breaking through Pakistan’s batting, and RP Singh bowled well at crucial times. The match reached a tense moment when Joginder Sharma bowled to Misbah-ul-Haq, who tried an unusual shot but ended up being caught by Sreesanth, clinching the win for India.

History of the ICC Men’s T20 World Cup

The ICC Men’s T20 World Cup is an international cricket tournament that happens every two years. However, if there is a Cricket World Cup scheduled in the same year, the T20 World Cup happens the year before.

  • The first T20 World Cup was held in 2007 in South Africa. India won the final by defeating Pakistan. Kenya and Scotland had to qualify for the tournament through a 50-over competition called the 2007 ICC World Cricket League Division One.
  • Later, it was decided to have a qualifying tournament with a 20-over format to better prepare the teams for the T20 World Cup. The top two teams from this qualifier would receive $250,000 each.
  • Pakistan won the second T20 World Cup in 2009 by defeating Sri Lanka in England.
  • In 2010, the tournament was held in the West Indies, and England defeated Australia in the final.
  • The 2012 T20 World Cup was won by the West Indies, who defeated Sri Lanka in the final. This was the first time a host nation played in the T20 World Cup final. There were 12 teams participating, including Ireland and Afghanistan, who qualified through the 2012 ICC World Twenty20 Qualifier. It was also the first time the T20 World Cup was held in an Asian country.

T20 World Cup 2024 Trophy

  • The trophy given to the winning team of the ICC Men’s T20 World Cup final was made by Links of London.
  • It is made of silver and rhodium metals. The trophy weighs about 7.5 kilograms (17 pounds) and is 51 centimeters (20 inches) tall. At the top, it is 19 centimeters (7.5 inches) wide, and at the bottom, it is 14 centimeters (5.5 inches) wide.

T20 World Cup 2024 Final rules

World T20 2024 Final: Rain Interruption Rules

Extra Time:

  • 190 minutes additional time allocated on Saturday
  • Aim: Ensure a 20-over game for fair results
  • Overs reduction implemented after this time

Complete Abandonment:

  • If no ball bowled, match moves to reserve day
  • Super over to determine the winner in case of a tie
  • If abandoned after tie, teams declared joint winners

Reserve Day Ground Treatment:

  • Covering/uncovering: As per Clause 10 of playing conditions
  • Mowing/rolling: As for day 2 of Test match (Clause 9, ICC Test match conditions)

Scenarios for Reserve Day:

a) Instance 1:

  • Match starts (20 overs)
  • Interruption occurs
  • Overs reduced to 17
  • Match abandoned without further play
  • Reserve day: Restart with 20 overs (reductions if needed)

b) Instance 2:

  • Match starts (20 overs)
  • Interruption occurs
  • Overs reduced to 17
  • One over bowled, then abandoned
  • Reserve day: Continue with a 17-over format

 

India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN_4.1

Most wickets in T20 World Cup 2024, Check the Top Bowlers List

As the ICC Men’s T20 World Cup 2024 reaches its exciting conclusion, cricket fans around the world are eagerly following the race for the top wicket-taker. This prestigious title not only brings individual glory but also plays a crucial role in determining team success. Let’s dive into the current standings and explore the history of this coveted achievement.

Most wickets in T20 World Cup 2024

Afghanistan’s Fazalhaq Farooqi has emerged as the leading wicket-taker in the ongoing tournament. With an impressive 17 scalps from seven games, Farooqi has showcased his bowling prowess on the global stage.

Rank Player Matches Wickets Average
1 Fazalhaq Farooqi (AFG) 8 17 9.41
2 Arshdeep Singh (IND) 7 15 13.00
3 Rashid Khan (AFG) 8 14 12.78
4 Rishad Hossain (BAN) 7 14 13.85
5 Jasprit Bumrah (IND) 7 13 8.15
6 Naveen-ul-Haq (AFG) 8 13 12.30
7 Anrich Nortje (SA) 8 13 13.46
8 Alzarri Joseph (WI) 7 13 13.61
9 Adam Zampa (AUS) 7 13 14.38
10 Kagiso Rabada (SA) 8 12 13.65

Most Wickets In T20 World Cup 2022

POS PLAYER TEAM MATCHES WICKETS
1 Wanindu Hasaranga SL 8 15
2 Sam Curran ENG 6 13
3 Bas de Leede NED 8 13
4 Blessing Muzarabani ZIM 8 12
5 Anrich Nortje SA 5 11
6 Shaheen Afridi PAK 7 11
7 Shadab Khan PAK 7 11
8 Paul van Meekeren NED 8 11
9 Josh Little IRE 7 11
10 Sikandar Raza ZIM 8 10

Historical Perspective: Past T20 World Cup Bowling Heroes

Multiple-Time Leaders

Two bowlers have achieved the remarkable feat of topping the wicket-taking charts twice:

  1. Umar Gul (Pakistan): 2007 and 2009
  2. Wanindu Hasaranga (Sri Lanka): 2021 and 2022

These repeat performances highlight the consistency and adaptability required to excel in the fast-paced T20 format across different conditions and years.

Record-Breaking Performances

  • Wanindu Hasaranga holds the record for most wickets in a single T20 World Cup edition, with 16 wickets in the 2021 tournament held in the UAE and Oman.
  • Hasaranga nearly matched his own record in 2022, claiming 15 wickets in Australia.

Notable Achievements

  • Umar Gul: The first player to become the top wicket-taker in consecutive editions (2007 and 2009).
  • 2009 Edition: The only time the highest wicket-taker came from the eventual champion team (Pakistan).
  • 2014 Edition: Imran Tahir (South Africa) and Ahsan Malik (Netherlands) shared the top spot with 12 wickets each.

Other Top Wicket-Takers in T20 World Cup History

  • Dirk Nannes (Australia): 2010
  • Ajantha Mendis (Sri Lanka): 2012
  • Mohammad Nabi (Afghanistan): 2016

All-Time Leader: Shakib Al Hasan

While the focus is on the current tournament, it’s worth noting that Bangladesh’s Shakib Al Hasan holds the record for most wickets in T20 World Cup history. With 47 wickets from 37 innings at an impressive average of 19.4, Shakib’s consistent performances across multiple editions have set a high benchmark for others to follow.

T20 World Cup 2024: The Stage for New Legends

The ongoing T20 World Cup 2024, which began on June 1, has provided a platform for both established stars and emerging talents to showcase their skills. As the tournament progresses towards its climax on June 29 at the Kensington Oval in Barbados, the race for the top wicket-taker remains intense.

Fazalhaq Farooqi’s current lead puts him in a strong position, but with crucial matches still to be played, including high-stakes knockout games, there’s potential for dramatic shifts in the wicket-taking leaderboard.

India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN_4.1

Most runs in T20 World Cup 2024, Check the Top Batter List

The ICC Men’s T20 World Cup 2024 has captured the hearts and minds of cricket enthusiasts worldwide. This prestigious tournament, being held in the picturesque settings of the West Indies and the United States of America, marks a significant milestone in the world of cricket. The ninth edition of this thrilling competition commenced on June 1, with the grand finale set to take place on June 29 at the iconic Kensington Oval in Barbados.

Most runs in T20 World Cup 2024

Keep up with the highest scorers in the ICC T20 World Cup 2024 with our Most Runs leaderboard. This section showcases the top batsmen based on the number of runs they’ve accumulated during the tournament. We update this leaderboard after each match to include statistics such as total runs, strike rate, and batting average. Stay updated on the key players and their performances for their teams.  With 281 runs from Eight games, Rahmanullah Gurbaz of Afghanistan is the top scorer in the T20 World Cup 2024.

Rank Player Matches Runs Average
1 Rahmanullah Gurbaz (AFG) 8 281 35.12
2 Travis Head (AUS) 7 255 42.50
3 Rohit Sharma (IND) 7 248 41.33
4 Ibrahim Zadran (AFG) 8 231 28.87
5 Nicholas Pooran (WI) 7 228 38.00
6 Andries Gous (USA) 6 219 43.80
7 Jos Buttler (ENG) 8 214 42.80
8 Quinton de Kock (SA) 8 204 25.50
9 Suryakumar Yadav (IND) 7 196 32.66
10 Phil Salt (ENG) 8 188 37.60

Top Run Scorers in T20 World Cup History

The Inaugural Champion: Matthew Hayden (2007)

Australia’s Matthew Hayden set the benchmark in the very first T20 World Cup. His tally of 265 runs in six matches demonstrated the potential for high scoring in this new format. Hayden’s aggressive batting style perfectly suited the T20 game, inspiring a generation of power hitters.

The Double Threat: Virat Kohli (2014 and 2022)

India’s Virat Kohli stands alone as the only player to top the run-scoring charts in two different T20 World Cups. His exceptional performances include:

  1. 2014 World Cup (Bangladesh): 319 runs at an astounding average of 106.33
  2. 2022 World Cup (Australia): 296 runs

Kohli’s 319 runs in 2014 remains the highest individual tally in a single T20 World Cup edition, a testament to his consistency and adaptability.

Other Batting Maestros

Several other cricketing legends have left their mark on the T20 World Cup:

  • Tillakaratne Dilshan (Sri Lanka, 2009)
  • Mahela Jayawardene (Sri Lanka, 2010)
  • Shane Watson (Australia, 2012)
  • Tamim Iqbal (Bangladesh, 2016)
  • Babar Azam (Pakistan, 2021)

Each of these batsmen topped the run-scoring charts in their respective World Cup years, showcasing their exceptional skills and contributing to their teams’ success.

India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN_4.1

Frank Duckworth, Renowned English Statistician, Passes Away

Frank Duckworth, the English statistician who co-invented the Duckworth-Lewis-Stern (DLS) method for determining cricket match results under rain-affected conditions, died at 84 on June 21. The DLS method, introduced in 1997, is widely used in international cricket and was formally adopted by the ICC in 2001.

About Frank Duckworth

Duckworth was born in 1939 in Lytham St Annes, Lancashire. He attended King Edward VII School, Lytham, now part of King Edward VII and Queen Mary School, then went on to study physics (BSc Hons 1961) and earned a PhD (1965) in metallurgy, both at the University of Liverpool. Prior to his retirement, he worked as a mathematical scientist for the English nuclear power industry.

Worked as a consultant statistician

He was a consultant statistician to the International Cricket Council, and the editor of the Royal Statistical Society’s monthly news magazine, RSS News, until he retired from both these roles in 2014. He also served on the editorial board of Significance before stepping down in 2010. In 2004 he delivered the Royal Statistical Society Schools Lecture, entitled Lies and Statistics. In 1962, Duckworth was a tenant of John Lennon’s aunt. Duckworth is also known for developing a system of quantifying personal risk perception, now known as the “Duckworth scale”.

His achievements

Duckworth was appointed Member of the Order of the British Empire (MBE) in the 2010 Birthday Honours for services to the Royal Statistical Society and to Cricket.

What is DLS Method?

The Duckworth–Lewis–Stern method (DLS) is a mathematical formulation designed to calculate the target score (number of runs needed to win) for the team batting second in a limited overs cricket match interrupted by weather or other circumstances. The method was devised by two English statisticians, Frank Duckworth and Tony Lewis, and was formerly known as the Duckworth–Lewis method (D/L). It was introduced in 1997, and adopted officially by the ICC in 1999. The DLS method employs complex statistical analysis, considering multiple variables such as wickets remaining and overs lost, to determine a fair revised target for the team batting second in truncated games.

India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN_4.1

India Successfully Tests ‘Abhyas’ High-Speed Expendable Aerial Target

Defence Research and Development Organisation (DRDO) has successfully completed six consecutive development trials of High Speed Expendable Aerial Target (HEAT) ‘ABHYAS’ with improved booster configuration from the Integrated Test Range (ITR), Chandipur, Odisha.

What is ABHYAS?

Abhyas is a High-speed Expendable Aerial Target (HEAT) being developed at ADE. It offers a realistic threat scenario for practice of weapon systems. Abhyas is designed for autonomous flying with the help of an autopilot, under development at ADE. Abhyas has RCS, Visual  and  IR  augmentation  systems  required  for weapon practice. Abhyas was successfully flight tested on 13 May 2019.

Successfully completed 10 development trials

ABHYAS has successfully completed 10 development trials demonstrating the reliability of the system, a statement added. The trials were carried out with improved Radar Cross Section, Visual and Infrared augmentation systems. During the trials, various mission objectives covering safe release of booster, launcher clearance, and endurance performance were successfully validated, it said. Two launches were conducted back-to-back within a gap of 30 minutes, demonstrating the ease of operation with minimum logistics. Representatives from the Services witnessed the flight trials, the statement added.

Designed by DRDO

ABHYAS, designed by DRDO’s Aeronautical Development Establishment in Bengaluru and developed by Hindustan Aeronautics Limited and Larsen & Toubro, offers a realistic threat scenario for weapon systems practice. This indigenous system is designed for autonomous flying with the help of an auto pilot, a laptop-based Ground Control System for aircraft integration, pre-flight checks, and autonomous flight. It also has a feature to record data during flight for post-flight analysis. The booster has been designed by Advanced Systems Laboratory and the navigation system by Research Centre Imarat. With identified production agencies, ABHYAS is now ready for production.

Important takeaways for all competitive exams:

  • DRDO was founded: 1958
  • Headquarters of DRDO: DRDO Bhavan, New Delhi, India
  • DRDO’s Aircraft designed: DRDO Nishant, DRDO Lakshya, Avatar
  • DRDO Agency executive: : Sameer V. Kamat, Chairman, DRDO;
  • Employees: 30,000 (5,000 scientists)

 

India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN_4.1

Turkey Triumphs as FATF Grey List Status Revoked

Turkish Finance Minister Mehmet Simsek announced that Turkey has been removed from the FATF ‘grey list’ after recent evaluations of the country’s progress on money laundering and terrorist financing. The decision, declared at the FATF plenary meeting in Singapore, marks a significant milestone for Turkey, which had been placed on the grey list in 2021.

Announcement and Immediate Impacts

Turkish Finance Minister Mehmet Simsek proclaimed the success on the social media platform X, celebrating Turkey’s removal from the “grey list.” The FATF’s decision came following a thorough assessment of Turkey’s improvements in financial regulations and anti-money laundering measures.

Reasons for Grey Listing

In 2021, Turkey was downgraded to the grey list due to concerns over money laundering and terrorist financing. Criticisms included Turkey’s support for terrorist groups, such as Hamas, and inadequate supervision of various sectors susceptible to illicit financial activities.

Key Reforms and Legislative Actions

The FATF acknowledged Turkey’s significant reforms, particularly in the regulation of cryptocurrency. The Turkish Parliament recently approved legislation increasing oversight of the crypto market, ensuring stringent management and operational standards. This move was pivotal in addressing FATF’s concerns and contributed to Turkey’s removal from the grey list.

Criticisms and Ongoing Concerns

Despite Turkey’s removal from the grey list, there are ongoing criticisms. Some argue that Turkey still poses a risk as a hub for terror financing, with allegations of support for Hamas and involvement in financing arms transactions for groups like the Houthi rebels and Russia. Critics suggest that Turkey’s financial controls need further strengthening to ensure long-term compliance with international standards.

Economic Implications

Turkey’s removal from the grey list is expected to enhance foreign investor confidence and potentially boost the Turkish lira and assets. The move comes at a crucial time as Turkey battles soaring inflation and a cost-of-living crisis. Improved international standing could facilitate better economic conditions and investor relations.

Financial Action Task Force (FATF) : Key points

  • Establishment: 1989
  • Headquarters: Paris, France
  • Members: 39 members, including major countries and regional organizations
  • Purpose: To develop policies and standards to combat money laundering, terrorist financing, and other related threats to the integrity of the international financial system

  • Functions:

    • Sets international standards (FATF Recommendations)
    • Conducts peer reviews of member countries (Mutual Evaluations)
    • Identifies high-risk and non-cooperative jurisdictions (grey list and black list)
    • Provides guidance and best practices
  • Grey List: Countries under increased monitoring for deficiencies in combating money laundering and terrorist financing
  • Black List: High-risk jurisdictions with significant strategic deficiencies
  • Meetings: Plenary meetings three times a year to review and update standards and assess member compliance

Key Points

Impact: Influences global financial policies and practices, impacting international banking and investment

Membership Requirements: Countries must implement FATF standards and undergo periodic evaluations

Key Publications: FATF Recommendations, Mutual Evaluation Reports, Guidance Documents

India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN_4.1

RBI Projects Further Moderation in Bank NPAs to 2.5%

The Reserve Bank of India (RBI) has projected a further improvement in the gross non-performing assets (GNPA) ratio of scheduled commercial banks (SCBs), estimating it to decrease to 2.5% by March 2025. This optimistic outlook is based on macro stress tests evaluating banks’ resilience against potential economic shocks.

Sustained Improvement in Asset Quality

As of March 2024, SCBs reported a 12-year low in their GNPA ratio at 2.8%, alongside a record low net NPA ratio of 0.6%. This improvement reflects a consistent decline in new NPA additions and increased provisioning by public sector banks (PSBs) and foreign banks (FBs).

Stress Test Scenarios

Under the baseline scenario, SCBs are expected to maintain resilience with minimal impact on capital adequacy ratios. However, in severe stress scenarios, the GNPA ratio could rise to 3.4% by March 2025, with PSBs potentially seeing a higher increase to 4.1%.

Capital and Risk Resilience

Despite potential economic challenges, SCBs remain well-capitalized, with aggregate capital to risk-weighted assets ratio (CRAR) projected above regulatory norms. The common equity Tier 1 (CET1) capital ratio is expected to remain comfortably above the minimum requirement, ensuring stability even under adverse conditions.

India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN_4.1

NCAER Projects Over 7% Growth for Indian Economy in Fiscal 2025

The National Council of Applied Economic Research (NCAER) forecasts India’s GDP to surpass 7% and possibly reach 7.5% in fiscal year 2024-25, citing resilient domestic economic indicators and favorable global conditions. High-frequency data shows robust economic activity, prompting upward revisions by all major agencies. Factors supporting this outlook include expected normal monsoons and a focused policy stance on investment and stability.

Economic Resilience and Growth Projections

NCAER’s projections indicate a GDP growth range between 7.2% and 6.2% for the current fiscal year, reflecting sustained economic buoyancy. Director General Poonam Gupta underscores the potential for growth exceeding 7%, supported by strong first-quarter performance and proactive economic policies.

Monetary and Inflation Dynamics

With retail inflation declining to a 12-month low of 4.7% in May, the Reserve Bank of India (RBI) faces less pressure for monetary tightening. The RBI’s focus remains on maintaining CPI-based inflation within its targeted range of 4%, with recent trends suggesting stability despite persistent food price challenges.

Sectoral Performance and Indicators

Key economic indicators such as the Purchasing Managers’ Index (PMI), Index of Industrial Production (IIP), and Goods and Services Tax (GST) collections reflect ongoing expansion across manufacturing, services, and core industries. Robust bank credit growth, although moderated in personal loans, and optimistic agricultural prospects underpin the broader economic momentum.

Challenges and Future Outlook

While global risks remain subdued, challenges persist in managing food inflation and enhancing climate-resilient food supply chains. NCAER advocates for a comprehensive policy framework to address these issues and sustain economic growth amidst evolving global and domestic dynamics.

India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN_4.1

SBI Raises Rs 10,000 Crore via 15-Year Infrastructure Bonds at 7.36% Coupon

State Bank of India (SBI) has successfully raised Rs 10,000 crore through its fifth infrastructure bond issuance. The bonds, with a tenure of 15 years and a coupon rate of 7.36% payable annually, garnered significant investor interest, oversubscribed nearly four times the base size of Rs 5,000 crore. The offering received 143 bids from diverse entities including provident funds, pension funds, insurance companies, mutual funds, and corporates.

Investor Response and Utilization of Proceeds

The issuance, rated AAA with a stable outlook, aims to bolster SBI’s long-term resources for funding infrastructure and affordable housing projects. The bank plans to use the proceeds to enhance its infrastructure loan portfolio, which includes significant exposures in sectors such as power, ports, roads, and telecom.

Impact on Regulatory Requirements and Market Dynamics

The infrastructure bonds allow SBI to circumvent regulatory reserve requirements like Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR), enabling full deployment of the raised amount into lending operations. This issuance also aims to develop a robust long-term bond market and encourage similar offerings by other financial institutions.

Future Plans and Market Outlook

Looking ahead, SBI has already approved plans to raise up to Rs 20,000 crore through long-term bonds in the current fiscal year, aligning with broader government initiatives like the National Infrastructure Pipeline (NIP) and National Monetisation Pipeline (NMP). These initiatives aim to accelerate economic growth through substantial investments in key infrastructure sectors.

India Contributes USD 1.169 Mn To Continue Promotion Of Hindi At UN_4.1

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Welcome to the Current Affairs Section of Adda247. If you are preparing for Government Job Exams, then it is very important for you to read the Daily Current Affairs. All the important updates based on current affairs are included in this Daily Current Affairs 2024 article.

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