Amit Shah released the ‘Dr. APJ Abdul Kalam: Memories Never Die’ book in Rameshwaram

Union Home Minister and Minister of Cooperation, Shri Amit Shah released the ‘Dr. APJ Abdul Kalam: Memories Never Die’ book in Rameshwaram. The Union Home Minister visited Dr. APJ Abdul Kalam House, Mission of Life Gallery Museum and Dr. APJ Abdul Kalam National Memorial.

This book is an English translation of the Tamil book ‘Ninaivugalukku Maranamillai’. Written by two people closest to A.P.J. Abdul Kalam, his niece Dr. Nazema Maraikayar and the distinguished ISRO scientist Dr. Y.S. Rajan, who was a close confidante of Kalam, this book gives a holistic and honest revelation of the life of Dr. Kalam from his early childhood till he breathed his last. This is the story of how a small-town boy from Rameswaram ascended to the highest echelons of the Indian political world. This book comprehensively covers the beautiful history of Indian rocketry, precursors to today’s Science and Technology, the workings of the Indian political and administrative

About the book:

The release of the book ‘Dr. APJ Abdul Kalam: Memories Never Die’, readers across the country will definitely get an opportunity to know, understand and follow Dr. Kalam. This book assimilates the history of Indian rocketry, science, technology and innovation, beautiful representation of Indian politics and administrative system and description of many incidents related to wishes and imagination of Dr. Kalam. In this book there is a complete and honest description of the incidents related to Dr. APJ Abdul Kalam.

This book would prove to be very helpful in understanding the struggle of an ordinary boy born in a poor household in Rameshwaram to reach the highest peak of Indian politics. This book brings to the readers Dr. Kalam’s love for literature and art, his exhortations about the poems of Thirukural and Bharthiyar and many unknown aspects of his life. Shri Shah said that Dr. APJ Abdul Kalam was a great team player. He implemented the principles of management in his life.

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Amazon India to open first-ever floating store in Dal Lake

Amazon India has inaugurated its first-ever floating store on Dal Lake in Srinagar, Kashmir. This initiative aligns with Amazon India’s commitment to providing customers with reliable and convenient delivery services, while simultaneously enabling small businesses to seize profitable earning prospects.

The store is part of company’s ‘I Have Space’ delivery program, which started in 2015. The program helps them deliver packages to customers in faraway places using local shops and partners.

Serving Customers around Dal Lake

The ‘I Have Space’ store serves as a crucial solution for the numerous customers residing and operating businesses around Dal Lake and Nigeen Lake in Srinagar, which are highly frequented spots by both tourists and locals.

About ‘I Have Space’ Program

Amazon India’s last-mile delivery program, ‘I Have Space,’ collaborates with local stores and business owners to efficiently deliver products within a 2 to 4 kilometers radius of their respective stores, providing them with an opportunity to generate supplementary income. Launched in 2015, this program has garnered an extensive network of more than 28,000 neighborhood and kirana partners spread across nearly 420 towns and cities throughout India.

‘I Have Space’ Program: Empowering Local Store Partners

On average, Amazon India’s store partners successfully handle around 20 to 30 packages daily, earning a fixed fee for each delivery they make. Additionally, many of these stores serve as convenient pick-up points, accepting deliveries on behalf of customers. Leveraging their familiarity with the local area and enjoying a positive reputation within their communities, these enterprising locals adeptly manage the entire process of product delivery and receipt. By participating in these services, they consistently make a significant and positive impact in their neighborhoods.

Key takeaways for competitive examinations

  • Country Head of Amazon India: Amit Agarwal

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‘CM Command Centre’ launched in Uttar Pradesh for evaluating governance

Uttar Pradesh CM Yogi Adityanath launched Command Centre and CM Dashboard to ensure needy and deserving have access to the benefits of the government schemes and services.

What’s in News?

Chief Minister Yogi Adityanath inaugurated ‘Chief Minister’s Command Centre’ and also a ‘CM Dashboard’ on 30th July at the Lal Bahadur Shastri Bhawan (Annex) in Lucknow to ensure needy and deserving have access to the benefits of the government schemes and services.

What are CM’s Command Centre and CM Dashboard?

CM’s Command Centre and CM Dashboard are effective steps of the UP Government taken to provide timely solutions for the problem of the common people, and to ensure better implementation of the government schemes.

Objective

The primary objective behind the launching of Command Centre and CM Dashboard is to ensure the accessibility of the government schemes and services to the needy and deserving.

To measure the performance of officials working in police service, municipal corporations and development authorities through monthly ranking and grading.

This initiative will mainly focus on the welfare of 24 crore people of U.P.

Significance

CM’s Command Centre and CM Dashboard will play a significant role in maintaining the trust of the common people in Chief Minister and his government. It helps to evaluate the performance of various government departments through monthly rankings and grades. Through this initiative CM will give suggestions to the departments with poor ranking and help to improve them.

Working

CM’s Command Centre is equipped with an integrated dashboard, a video wall, a video conferencing facility, a call centre, and discussions, training and technical rooms with world-class amenities.

 Performance Index: Currently 588 schemes of 53 departments are registered under it. To issue monthly state-level grading, a performance index has been developed based on the information received from departments on the CM Dashboard.

Data Quality Index: A data quality index has been developed to ensure the quality of departmental data, and its monthly evaluation will be displayed.

 Ranking and Grading: 100 flagship projects have been identified for ranking and grading Administration Divisional Commissioners and District Magistrates. Additionally, rankings based on performance will also be done for Police Commissioners, Senior Police Superintendent, Superintendents of Police, Municipal Corporations, Development Authorities and Universities on a monthly basis.

 

 

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G. Kannabiran takes over as new NAAC Director

The National Assessment and Accreditation Council (NAAC) recently announced the appointment of Prof Ganesan Kannabiran as its new director. The appointment took place on July 28, as per the official statement from NAAC. Prof Kannabiran brings with him a rich experience of over 30 years in the education sector, having served as a senior professor of Information Systems at the National Institute of Technology (NIT), Tiruchirappalli. Throughout his career, he has held various leadership positions, including the Dean of Research and Consultancy, and Director-in-Charge at NIT Trichy and NIT Puducherry.

Contributions at Indian Institute of Information Technology, Andhra Pradesh:

From 2018 to 2023, Prof Kannabiran served as the founding director of the Indian Institute of Information Technology, Andhra Pradesh. During his tenure, he played a pivotal role in implementing the National Education Policy at the institute and worked towards fostering community development by promoting engagement with neighboring villages.

Academic and Professional Accomplishments:

Prof Ganesan Kannabiran has earned recognition and acclaim for his contributions to the field. He has been the recipient of prestigious fellowships, including the Commonwealth Professional Fellowship, Fulbright Fellowship, and British Council Study Fellowship. Furthermore, he has undertaken various projects for prominent organizations such as the Ministry of Electronics and Information Technology (MeitY), the All India Council for Technical Education (AICTE), the Department of Science and Technology, Government of India, and UNESCO.

Diverse Research Interests:

Prof Kannabiran’s research interests span a wide range of subjects, including computer-based learning, industry 4.0, entrepreneurship development, gender equality, and data privacy, among others. He specializes in software engineering, software project management, IT consulting, and business analytics, showcasing his expertise in multiple domains.

Entrepreneurial Initiatives:

Beyond academia, Prof Kannabiran has displayed a keen interest in entrepreneurship and has founded two companies: Centre for Entrepreneurship Development and Incubation (CEDI) at NIT Trichy and Gyan Circle Ventures at IIIT Sri City. These companies are dedicated to supporting and nurturing aspiring entrepreneurs.

Academic Qualifications:

Prof Ganesan Kannabiran holds a Ph.D. in Information Systems and possesses three Master’s degrees in Computer Science and Engineering, Business Administration, and Mathematics, demonstrating his multidisciplinary approach to education and research.

National Assessment and Accreditation Council (NAAC): Key Points

  1. Introduction: The National Assessment and Accreditation Council (NAAC) is an autonomous body established by the University Grants Commission (UGC) of India. It was founded in 1994 with the purpose of assessing and accrediting institutions of higher education in the country.

  2. Mandate: The primary mandate of NAAC is to assess and accredit higher education institutions (HEIs) in India to ensure quality and promote excellence in education. Accreditation by NAAC is voluntary, but it has become an essential process for institutions seeking recognition and funding from various government bodies.
  3. Accreditation Process: NAAC evaluates HEIs based on a set of well-defined criteria and indicators, covering various aspects of institutional performance. The assessment is carried out through a rigorous peer review process, where a team of experts visit the institution and assess its performance against the established criteria.
  4. Grading System: The NAAC assessment results in a grade awarded to the institution, ranging from ‘A++’ (highest) to ‘C’ (lowest). Institutions that do not meet the minimum criteria receive an ‘Unaccredited’ status.
  5. Parameters for Assessment: NAAC’s assessment framework includes key parameters such as Curricular Aspects, Teaching-Learning and Evaluation, Research, Consultancy, and Extension, Infrastructure and Learning Resources, Student Support and Progression, Governance, Leadership, and Management, and Innovations and Best Practices.

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Ratan Tata to get Maharashtra govt’s first ‘Udyog Ratna’ award

The Maharashtra Government will confer Tata group Chairman Ratan Tata with the first prestigious Maharashtra Udyog Ratna Award this year, state industries minister Uday Samant announced in the State Legislative Assembly. On the lines of Maharashtra Bhushan award, which is the state’s highest award, that is conferred to eminent people, the Maharashtra government, decided to initiate the prestigious Udyog Ratna Award from this year onward. The first of the awards will be given to industrialist Ratan Tata.

Ratan Tata is a respected business leader who has been at the helm of the Tata Group for over two decades. He is credited with transforming the group into a global leader in a number of industries, including automobiles, steel, and telecommunications. He is also a strong advocate for corporate social responsibility and has made significant contributions to the development of India’s rural areas. The award of the ‘Udyog Ratna’ to Ratan Tata is a recognition of his outstanding achievements in the industrial sector. It is also a tribute to his dedication to corporate social responsibility and his commitment to the development of India.

About the Maharashtra Udyog Ratna Award

The ‘Udyog Ratna’ award is a state-level award given to individuals who have made outstanding contributions to the industrial sector of Maharashtra. Ratan Tata is being awarded the award for his contributions to the growth and development of the Tata Group, which is one of the largest conglomerates in India.

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Indian-American foreign policy expert Nisha Biswal confirmed as deputy CEO of US DFC

Nisha Biswal has been appointed as the Deputy Chief Executive Officer of the US International Development Finance Corporation (DFC).

With over 30 years of experience in US foreign policy and international development programs across the Executive Branch, Congress, and the private sector, Biswal’s nomination was put forward by President Joe Biden.

Nisha Biswal’s Current Role at the United States Chamber of Commerce

Nisha Desai Biswal is currently serving as the Senior Vice President for international strategy and global initiatives at the United States Chamber of Commerce. In this capacity, she also oversees the South Asia programs, reflecting her expertise in the region.

Previous Role as President of the US-India Business Council

Before her current position, Biswal held the prestigious role of President of the US-India Business Council at the United States Chamber of Commerce. This role highlights her significant involvement in fostering business relations between the United States and India.

Her Role in the US Department of State

Biswal has a distinguished history of public service, having served as the Assistant Secretary of State for South and Central Asian Affairs in the United States Department of State during President Barack Obama’s administration from 2013 to 2017. Notably, she was the first South-Asian American to hold this influential position.

Recognition and Samman Award

In January 2017, Nisha Biswal was honored with the prestigious Samman Award by the President of India, recognizing her outstanding achievements and commitment to promoting bilateral ties.

The United States International Development Finance Corporation(DFC)

  • The United States International Development Finance Corporation (DFC) functions as a development finance institution and agency under the United States federal government.
  • Its main focus is investing in development projects, with a primary emphasis on lower and middle-income countries. It was first authorized on 5 October 2018, and officially became an independent agency on 20 December 2019.
  • The DFC utilizes its lending capacity to offer loans, loan guarantees, direct equity investments, and political risk insurance to support private-sector led development projects, feasibility studies, and technical assistance.

Key takeaways for competitive examinations

  • Headquarters of US International Development Finance Corporation (DFC): Washington, D.C.

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BSNL’s Shivendra Nath set to be next CMD of EPIL

Shivendra Nath, a 1994-batch officer of UPSC, has been chosen by the PSEB (Public Enterprises Selection Board) panel to assume the role of Chairman & Managing Director at Engineering Projects India Ltd (EPIL), a Public Sector Undertaking (PSU) under the Ministry of Heavy Industries & Public Enterprises.

Nath’s Career Milestones and Current Role at BSNL

  • Nath began his engineering career in 1994, after being selected through the Union Public Service Commission as the Engineering Project Manager of P&T Department, Indian Engineering Services.
  • Nath has been serving as Chief Engineer at BSNL from September 2020. Previously, he held the position of Superintending Engineer at Naya Raipur Development Authority until January 2021.
  • At present, Nath is working as the senior general manager at BSNL.

Nath’s Extensive Expertise and Role as Chief Executive at EPIL

  • With over 25 years of experience in diverse essential domains such as infrastructure development, contract management, supervision, sustainable water solutions, urban planning and development, and government administration, Nath assumes the role of Chief Executive at EPIL.
  • Reporting directly to the organization’s Board of Directors, he bears the responsibility of ensuring the organization’s smooth operation and successful attainment of its corporate objectives and performance targets.

The Public Enterprises Selection Board (PSEB)

  • The Public Enterprises Selection Board is entrusted with the responsibility of selecting and appointing individuals to key positions, including Chairman, Managing Director, Chairman-cum-Managing Director, and Functional Director, in Public Sector Enterprises (PSEs), as well as positions at other designated levels as specified by the Government.
  • Furthermore, the board offers advisory services to the Government regarding matters related to appointments, confirmation, extension of tenure, and termination of services for personnel at the aforementioned levels.

About Engineers India Limited (EIL)

  • Engineers India Limited (EIL) is a government-owned Indian engineering consultancy and technology licensing company. Established in 1965, its initial focus was on providing domestic technology solutions for hydrocarbon projects.
  • Over the years, EIL has diversified its expertise to encompass various areas, including non-ferrous metallurgy, infrastructure, water and wastewater management, and fertilizers. The company’s headquarters are located at Bhikaji Cama Place, New Delhi.

Key takeaways for competitive examinations

  • Chairman & Managing Director of Engineering Projects (India) Ltd: Dhirendra Singh Rana

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Centre launches ULLAS mobile application to promote basic literacy

The Akhil Bharatiya Shiksha Samagam 2023, graced by Prime Minister Narendra Modi, witnessed the inauguration of the ULLAS: Nav Bharat Saksharta Karyakram at Bharat Mandapam, Pragati Maidan, New Delhi. The initiative, introduced by Union Minister Dharmendra Pradhan, aims to revolutionize education and literacy in India by creating a comprehensive learning ecosystem that bridges gaps in basic literacy and critical life skills. It coincided with the third anniversary of NEP 2020.

ULLAS – Empowering Education and Literacy:

  1. Comprehensive Learning Ecosystem: The ULLAS initiative aims to provide a comprehensive learning ecosystem that caters to the needs of every individual. It focuses on promoting functional literacy, vocational skills, and essential life skills, such as financial literacy, legal literacy, and digital literacy. Moreover, it empowers citizens to actively participate in nation-building.

  2. Target Audience: The ULLAS mobile application is primarily designed for citizens aged 15 and above who have missed the opportunity to attend formal schooling. By reaching out to this demographic, the program aims to extend education and literacy to marginalized sections of society.

  3. Digital Gateway with DIKSHA Portal: The ULLAS mobile app serves as a digital gateway, connecting learners with diverse educational resources through the DIKSHA portal of NCERT. This ensures that learners have access to a wide range of quality learning materials.

Volunteerism for Nation-Building:

  1. Encouraging Volunteerism: The ULLAS initiative operates through volunteerism, encouraging individuals to participate as DUTY or Kartavya Bodh towards nation-building. Volunteers play a crucial role in spreading knowledge and education across communities in India.

  2. Incentives for Student Volunteers: To motivate student volunteers, the program offers incentives such as credits in school or university, certificates, letters of appreciation, and felicitation. This recognition reinforces the value of their contribution to the nation.

Igniting the Flame of Curiosity:

  1. Symbolic Logo and Slogan: The newly-unveiled logo and slogan, “ULLAS: Nav Bharat Saksharta Karyakram,” reflect the campaign’s enthusiasm and vigor in spreading knowledge and education to every corner of the country. It represents the initiative’s commitment to igniting the flame of curiosity and continuous learning in each individual.

  2. Fostering a Culture of Knowledge-Sharing: ULLAS aims to foster a culture of knowledge-sharing in communities across India. By empowering individuals with literacy and essential skills, the initiative envisions a society where every citizen actively participates in the growth and development of the nation.

How to Access ULLAS: Nav Bharat Saksharta Karyakram:

Interested individuals can easily access ULLAS by downloading the mobile application from Google PlayStore or the iOS App Store. The user-friendly app provides a platform for learners and volunteers to register through self-registration or via surveyors.

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Meri Mati Mera Desh campaign to be launched in run-up to Independence Day

On 30th July, Prime Minister Narendra Modi announced the launch of Meri Mati Mera Desh campaign in run-up to Independence Day to honor the martyred bravehearts of the country.

What’s in News?

In this month, in Mann Ki Baat radio broadcast, PM Modi announced the launching of Meri Mati Mera Desh campaign to honor the bravehearts and programmes will be organised across the country in memory of those who laid down their lives for the country.

Amrit Kalash Yatra

During the campaign of Meri Mati Mera Desh, an Amrit Kalash Yatra will also be taken out. This ‘Amrit Kalash Yatra’ will reach Delhi, carrying the soil in 7,500 Kalash from villages and various corners of the country. This yatra will also carry plants from various parts of the country. An ‘Amrit Vatika’ will be built close to the National War Memorial from these 7,500 Kalash of soil and plants.

Har Ghar Tiranga

PM Modi urged the people through Mann Ki Baat progamme to hoist the tricolor at their homes just like the previous year programme Har Ghar Tiranga to realise the innumerable sacrifice made for the freedom of the country and to realise the value of freedom.

Highlights of Mann Ki Baat, July2023

Haj:

PM Modi praised the changes made by the government in the Haj Policy in the past years and said now more and more are getting an opportunity to go for the annual pilgrimage. This time the number of women who performed Haj without Mehram was not just only 50 or 100 but over 4,000 which was a big change.

About People’s suffering from Natural Calamities:

PM Narendra Modi also talked about the people’s suffering in the past few days which were full of worries and trouble due to natural calamities as people has to suffer in many places due to many swelled rivers like the Yamuna. Amid natural calamities, people of the country have once again brought to the fore the power of collective effort.

 

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SEBI Introduces Framework for Corporate Debt Market Development Fund (CDMDF)

On July 27, 2023, the Securities and Exchange Board of India (SEBI) announced the establishment of the Corporate Debt Market Development Fund (CDMDF). This fund, regulated by SEBI, is designed to function as a ‘backstop facility,’ providing support during stressed market conditions by purchasing investment-grade corporate debt securities. The Guarantee Scheme for Corporate Debt (GSCD) aims to offer guarantee cover against debt raised or to be raised by the CDMDF, adding stability to the market in times of dislocation.

Objective of CDMDF:

The primary purpose of the Corporate Debt Market Development Fund (CDMDF) is to instill confidence among market participants during periods of market stress.

Composition of the Fund:

The working group responsible for establishing the CDMDF included representatives from different mutual funds, the Clearing Corporation of India Limited (CCIL), and the Association of Mutual Funds in India (AMFI). The group recommended the creation of a single ‘entity’ responsible for purchasing corporate debt securities from mutual fund schemes.

Contributions from Mutual Funds:

  • Specified Debt-Oriented Mutual Fund Schemes: These include open-ended debt-oriented mutual fund schemes, excluding overnight funds and gilt funds, as well as conservative hybrid funds.
  • Initial Contribution: The specified debt-oriented schemes will invest 0.25% (25 basis points) of their assets under management (AUM) in CDMDF units. This contribution, including appreciation, will be locked in until the fund is wound up.
  • Increasing Contributions: As the AUM of the specified schemes grows, their contribution to the CDMDF will increase. Contributions will be reviewed every six months.
  • Redemption: In case the AUM of the specified schemes reduces, there will be no redemption from the CDMDF.
  • Contribution from New Mutual Funds/Schemes: The same contribution rules apply to specified schemes from new mutual funds or existing mutual funds launching new schemes.

AMC Contribution:

  • AMCs of mutual funds are required to make a one-time contribution of 2% of the AUM of their specified debt-oriented schemes. The initial contribution will be based on the AUM as of December 31, 2022, in these schemes.
  • Penalty for Delayed Contribution: Any delay in contribution will attract a penalty of 15% per annum on the respective AMC for the delayed period, with the interest credited to the CDMDF.

Purchasing Corporate Debt Securities:

  • CDMDF’s Role: The CDMDF will purchase listed corporate debt securities from specified debt-oriented mutual fund schemes.
  • Trigger and Period: SEBI will determine the trigger and the period during which CDMDF will take action to buy these securities.
  • Eligible Securities: CDMDF will buy securities from the secondary market with a remaining maturity period of not more than five years and holding an investment grade credit rating.
  • Payment to Sellers: Sellers will receive 90% of the payment in cash and 10% in the form of CDMDF units.

Access to Sell Facility:

  • Proportionate Access: Mutual funds can sell corporate debt securities from their contributing schemes’ portfolios to the CDMDF. The access to this sell facility will be proportionate to the mutual fund’s contribution to the CDMDF.

Information Disclosure:

  • Scheme Information Document (SID): AMCs will incorporate information about contributing to the CDMDF in their Scheme Information Document by issuing an addendum before initiating the contribution.

Effective Date:

The provisions of the circular issued by SEBI are in force with immediate effect.

SEBI – Securities and Exchange Board of India

The Securities and Exchange Board of India (SEBI) is the regulatory authority responsible for overseeing the securities market in India. It was established on April 12, 1992, as an independent body to regulate and protect investors’ interests and ensure the orderly development of the securities market.

Here are the key points about SEBI:

  1. Regulatory Authority: SEBI is the primary regulatory body for the securities and capital markets in India. It exercises its powers under the SEBI Act, 1992.

  2. Investor Protection: One of SEBI’s core objectives is to protect the interests of investors and ensure fair practices in the securities market.
  3. Regulating Participants: SEBI regulates various market participants, including stock exchanges, brokers, sub-brokers, depositories, custodians, and portfolio managers.
  4. Market Oversight: The board oversees the functioning of the stock exchanges and enforces rules and regulations to maintain market integrity and transparency.

  5. Madhabi Puri Buch is the current Chairperson of the Securities and Exchange Board of India (SEBI).
  • She is the first woman to lead SEBI, making history as the first female chairperson of the regulatory body.
  • Additionally, she holds the distinction of being SEBI’s first non-IAS (Indian Administrative Service) chairperson.

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