National News
CBDT Awards Taxnet 2.0 Project to Bharti Airtel
The Central Board of Direct Taxes (CBDT) has awarded the Taxnet 2.0 project to Bharti Airtel Ltd. This project aims to provide advanced network connectivity, facility management services, and video conferencing services to the Income Tax Department (ITD). Bharti Airtel was chosen through an open tender process for this critical project, which marks a significant advancement over the current Taxnet 1.0 project. The new system aims to enhance the digital infrastructure of the ITD by providing secure, reliable, and seamless connectivity services.
Project Overview:
- Recipient: Bharti Airtel Ltd.
- Purpose: To provide advanced network connectivity, facility management, and video conferencing services to the Income Tax Department (ITD).
- Selection: Chosen through an open tender process.
Key Features of Taxnet 2.0:
- Enhanced Security: Utilizes cutting-edge technology to protect sensitive data and ensure privacy.
- Higher Reliability: Provides consistent and dependable service nationwide.
- Seamless Connectivity: Ensures smooth and uninterrupted access for departmental users, improving tax services for citizens and businesses.
Objectives and Benefits:
- Network System Revamp: Aims to overhaul the ITD’s network system, enhancing security and reliability.
- User Experience: Provides a seamless experience for stakeholders, improving the quality of tax services.
- Modernization: Advances the government’s commitment to modernizing digital infrastructure and delivering high-quality public services.
What is the Central Board of Direct Taxes (CBDT)?
- It is a statutory body established as per the Central Board of Revenue Act, 1963.
- It is India’s official financial action task force unit.
- It is administered by the Department of Revenue under the Ministry of Finance.
To note is that originally there was a board called the Central Board of Revenue that functioned as the apex body of the Income Tax Department. The said board was set up under the Central Board of Revenue Act, 1924 and was in charge of both direct and indirect taxes. The Central Board of Revenue got split in 1964 into two boards:
- Central Board of Direct Taxes
- Central Board of Excise and Customs
CBDT Structure: The Central Board of Direct Taxes consists of a Chairman, and six members that deal with the following:
- Income Tax & Revenue
- Administration
- Legislation
- Audit and Judicial
- Investigation
- TPS & System
Note: chairman of CBDT: Ravi Agarwal,
OVL hikes stake in Azerbaijani Oilfield with $60 million investment
The Navratna company ONGC Videsh Limited (OVL) has bought the Norwegian firm Equinor’s stake in Azerbaijan’s offshore Azeri Chirag Gunashli oil field and an associated oil pipeline for $60 million.
OVL, an ONGC subsidiary, has increased its stake in the Azeri Chirag Gunashli oil field to 2.95 per cent.
OVL Investment in the Oil Field and Pipeline
- In 2013, the OVL invested for the first time in the Azeri Chirag Gunashli oil field, buying a 2.72 per cent stake in the company.
- Before the deal with Equinor, the current stake of OVL in the oil field was 2.31 per cent and 2.36 per cent in the Baku Tbilisi Ceyhan pipeline company.
- Under the deal with the Norwegian company Equinor the OVL has bought 0.615 per cent share in the oil field and 0.737 shares in the Baku Tbilisi Ceyhan pipeline company from Equinor.
- Thus, the total OVL Stake in the Azeri Chirag Gunashli oil field will increase to 2.95 per cent and 3.097 per cent for the Baku Tbilisi Ceyhan pipeline company.
ONGC Videsh Limited (OVL)
Overview:
- Establishment: Set up in 1965 as a wholly-owned subsidiary of ONGC.
- Purpose: To explore and develop petroleum and gas fields outside India.
- Significance: Second largest petroleum company in India in terms of reserves and production, after ONGC.
Global Presence:
- Countries: Involved in 32 oil and gas projects across 15 countries.
- Project Distribution:
- Azerbaijan: 2 projects
- Bangladesh: 2 projects
- Brazil: 2 projects
- Colombia: 4 projects
- Mozambique: 1 project
- Myanmar: 6 projects
- Russia: 3 projects
- South Sudan: 2 projects
- Syria: 2 projects
- UAE: 1 project
- Venezuela: 2 projects
- Vietnam: 2 projects
- Other Dormant Projects: 5 projects in four countries (currently inactive)
Production (2023-24):
- Crude Petroleum Oil: 7.178 million metric tonnes
- Oil Equivalent Gas: 10.518 million metric tonnes
Headquarters: New Delhi
Chairperson: Arun Kumar Singh
Merger of DoT Training Institutes: Launch of the National Communications Academy (NCA)
National Telecommunications Institute for Policy Research, Innovation and Training (NTIPRIT), National Institute of Communication Finance (NICF), and Wireless Monitoring Training & Development Centre (WMTDC). have been merged into a single administrative entity, the National Communication.
- New Entity: National Communications Academy (NCA).
- Approval: Granted by the Minister of Communications on the recommendation of the Committee for Organisational Reforms.
Structure:
- Campuses:
- Ghaziabad
- Ghitorni (two campuses)
- Function: Unified entity for training, budget, and transfers.
Composition:
- It will be headed by the Secretary (Telecom/T)-Currently Dr. Neeraj Mittal, as its ex- officio Chairperson
- The Additional Secretary (T)-Currently Niraj Verma, will be its Vice-Chairperson.
- Its Governing Council (GC) will comprise four members – Member (Finance), Member (Services), Member (Technology), and Wireless Advisor; while Additional Secretary(T)- will be Member Secretary.
Objectives:
- Integration: Streamline training and optimize resources.
- Holistic Approach: Address various aspects of the communications sector.
- Enhanced Learning: Shared facilities, faculty, and technology to improve learning experiences.
Expected Outcomes:
- Efficiency: Improved integration and efficiency in training.
- Collaboration: Boosts collaborative and interdisciplinary research and innovation.
- Benefits: Enhanced training environment for both trainees and industry.
National Landslide Forecasting Centre (NLFC) and Bhusanket Web Portal Launch
On July, 2024, Union Minister Gangapuram (G) Kishan Reddy, Ministry of Coal, and Ministry of Mines inaugurated the National Landslide Forecasting Centre (NLFC) at Geological Survey of India (GSI), Dharitri Campus, Salt Lake City, Kolkata in West Bengal (WB).
He also launched the Bhusanket Web Portal (https://www.bhusanket.gsi.gov.in) and Bhooskhalan Mobile Application (App).
NLFC Overview:
- Aimed at mitigating landslide hazards in India.
- Benefits residents of Kalimpong, Darjeeling, and Nilgiri districts from July 20, 2024.
- Nationwide operationalization of the Landslide Early Warning System (LEWS) by 2030.
- Issues early warning bulletins for landslide-prone states.
- Equipped with advanced technology for real-time data integration and accurate forecasting.
Bhusanket Web Portal & Bhooskhalan Mobile App:
- Advances disaster risk reduction with crucial landslide hazard data.
- Enables short- and medium-range forecasting.
- Integrates with Bhooskhalan Mobile App for rapid daily forecast dissemination.
- Allows stakeholders to share and update landslide information.
Geological Survey of India (GSI) Overview
- Foundation and Evolution:
- Founded in 1851.
- Initially focused on coal exploration.
- Expanded to mapping geological structures and critical minerals.
- Current Exploration Programs:
- Exploration programs for critical minerals increased from 127 in 2023 to 196 in 2024.
- Organizational Structure:
- Operates under the Ministry of Mines.
- Director General (DG): Janardan Prasad.
- Headquarters: Kolkata, West Bengal (WB).
- Regional Offices: Lucknow, Jaipur, Nagpur, Hyderabad, Shillong, and Kolkata
Banking news
RBI Committee to Review White-Label ATM (WLA) Fee Structure
The Reserve Bank of India (RBI) has established a committee headed by Sunil Mehta, Chief Executive Officer (CEO) of the Indian Banks’ Association (IBA) to review the fee structure for White-Label ATMs (WLAs).
Aim: To recommend a fair and sustainable model that balances all stakeholders’ interests and will evaluate current policies and practices.
Scope and Evaluation:
- Assess fee structure, existing ATM infrastructure, and international best practices.
- India’s ATM market projected to grow at a CAGR of 9.2% from 2024 to 2032.
White-Label ATMs (WLAs):
- ATMs set up, owned, and operated by non-bank entities.
- Authorized under the Payment & Settlement Systems Act, 2007 by the RBI.
- 2012: RBI allowed non-banking companies to operate WLAs.
- 2016: RBI permitted WLA operators to source cash from retail outlets.
- 2019: RBI allowed on-tap authorization for WLAs.
Committee Composition:
- Includes representatives from National Payments Corporation of India (NPCI), leading banks, ATM manufacturers, and other stakeholders.
- Currently, 4 authorized non-bank entities operate WLAs in India.
Reserve Bank of India (RBI) Overview
Establishment:
- Founded on April 1, 1935, under the Reserve Bank of India Act, 1934.
- Originally privately owned; nationalized in 1949 and now fully owned by the Government of India (GOI).
Leadership:
- Governor: Shaktikanta Das.
- Deputy Governors: Dr. Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar, and Swaminathan J.
Headquarters: Located in Mumbai, Maharashtra.
Arka Fincap & Central Bank of India Co-lending Partnership
Arka Fincap Limited (a step-down subsidiary of Kirloskar Oil Engines Limited) and Central Bank of India (CBI) have entered a co-lending agreement.
Aim: To offer Micro, Small, and Medium Enterprises (MSME) loans at competitive rates across India.
Arrangement Details:
- Arka Fincap’s Role:
- Originate and process MSME loan proposals.
- Follow jointly formulated credit parameters and eligibility criteria.
- Central Bank of India’s Role:
- Take 80% of the loans into its books.
- Manage the loans according to mutually agreed terms.
Award news
Madhya Pradesh Tops in PM SVANidhi Scheme as Best Performing State
Madhya Pradesh has been recognized as the ‘Best Performing State’ under the Prime Minister SVANidhi scheme, which supports urban street vendors with collateral-free loans up to ₹50,000. The Union Housing and Urban Affairs Ministry announced this accolade, with Assam securing the second position in the ‘Best Performing States – Innovation and Best Practices Award’ category.
Overview of PM SVANidhi Scheme:
- Launched in June 2020 to support urban street vendors with collateral-free loans up to ₹50,000.
- Aims to enhance financial stability and support small businesses affected by COVID-19.
Key Achievements:
- Madhya Pradesh: Best performing state for effective scheme implementation.
- Assam: Second in ‘Best Performing States – Innovation and Best Practices Award’.
Awards for Urban Local Bodies (ULBs):
- Municipal Corporation of Delhi (MCD): Best-performing ULB.
- Bruhat Bengaluru Mahanagara Palike (BBMP) and Ahmedabad Municipal Corporation: Notable performers.
DAY-NULM and SPARK Rankings:
- DAY-NULM: National Urban Livelihood Mission recognized.
- Kerala: Top rank in SPARK category.
- Uttar Pradesh and Rajasthan: Second and third in SPARK rankings, respectively.
About the Ministry of Housing and Urban Affairs (MoHUA):
- Union Minister- Manohar Lal Khattar (Constituency: Karnal, Haryana)
- Minister of State(MOS) – Tokhan Sahu (Constituency: Bilaspur, Chhattisgarh)
Nobel Laureate Rigoberta Menchú Tum Receives Prestigious Gandhi Mandela Award 2020
Rigoberta Menchú Tum, the renowned Nobel Peace Prize laureate and Guatemalan human rights activist, has been honored with the Gandhi Mandela Award 2020. This prestigious accolade recognizes her lifelong commitment to advocating for Indigenous rights and promoting peace and social justice.
Gandhi Mandela Award – General Knowledge
Overview:
- The Gandhi Mandela Award is an international accolade honoring individuals who have demonstrated a lifelong commitment to community service, social development, and the promotion of peace and harmony.
- Named after two iconic leaders, Mahatma Gandhi and Nelson Mandela, who championed the values of non-violence, equality, and social justice.
Criteria for Selection:
- Individuals who have made significant contributions to community service, social development, and peace.
- Must exemplify the values of non-violence, equality, and social justice in their work.
Awarded for: Recognizes contributions in the fields of Peace, Social Welfare, Culture, Health Care, Sports, Education, and Innovation.
Sponsored by: Gandhi Mandela Foundation.
First Awarded: 2019 (The winner of the Gandhi Mandela Award in 2019 was Sultan Qaboos bin Said Al Said, the late Sultan of Oman. He was recognized for his efforts in promoting peace, development, and humanitarian work.)
RRR Star Ram Charan to be Honoured at Indian Film Festival of Melbourne 2024
Ram Charan, the superstar known for his stellar performance in the global blockbuster “RRR”, is set to be the guest of honor at the prestigious Indian Film Festival of Melbourne (IFFM) 2024. This recognition comes as a testament to his significant contributions to Indian cinema and his rising international profile.
- IFFM 2024 Honor: Guest of Honor: Ram Charan, acclaimed for his performance in “RRR”.
- Ambassador for Indian Art and Culture: Title: Awarded to Ram Charan for his significant contributions to Indian cinema and global cultural promotion.
- Retrospective Showcase: Celebration: A retrospective of Ram Charan’s films highlighting his versatility and impact in the industry.
Festival Details:
- Dates: August 15 to 25, 2024.
- Organization: Hosted by the Victorian State Government, showcasing Indian cinema to Australian audiences.
Sports news
AIFF awards 2024, Chhangte, Indumathi Win Top Male and Female Awards
The All India Football Federation (AIFF) recently held its annual awards ceremony, recognizing outstanding achievements in Indian football for the 2023-24 season. The top honours went to Lallianzuala Chhangte and Indumathi Kathiresan, who were named the male and female Players of the Year respectively.
Top Honours:
- Men’s Player of the Year: Lallianzuala Chhangte
- Women’s Player of the Year: Indumathi Kathiresan
Men’s Player of the Year: Lallianzuala Chhangte:
- Club: Mumbai City FC
- Achievements:
- Secured AIFF Men’s Player of the Year award for the second consecutive time.
- Scored 11 goals and provided 7 assists in all competitions.
- Highest-scoring Indian in the Indian Super League (ISL).
- Scored against Qatar during the FIFA World Cup Qualifiers in June 2024.
Women’s Player of the Year: Indumathi Kathiresan:
- Club: Odisha FC
- Achievements:
- First player from Tamil Nadu to win the AIFF Women’s Player of the Year award.
- Won the 2023-24 Indian Women’s League (IWL) title.
- Scored 5 goals in the IWL and received the Best Midfielder award.
- Scored against Estonia in the Turkish Women’s Cup in February 2024.
All India football federation:
- Headquarters: New Delhi
- Founded: 23 June 1937
- President: Kalyan Chaubey
Deepa Malik Appointed Sub-regional Representative for South Asia by APC
Dr. Deepa Malik, India’s first woman Paralympic medallist, appointed sub-regional representative for South Asia by the Asian Paralympic Committee (APC) at its 34th Executive Board meeting.
This appointment increases female representation on the APC Executive Board to 5, the highest in its history.
Achievements:
- First woman to represent India internationally in her disability category (F-53).
- First Indian paraplegic woman swimmer, biker, and car rallyist.
- Won a Silver Medal in the Shotput F53 category at the Rio 2016 Paralympic Games with a personal best of 4.61 meters.
Honors:
- Arjuna Award (2012).
- Padma Shri for Sports (2017).
- Major Dhyan Chand Khel Ratna Award (2019).
- Sir Edmund Hillary Prime Minister’s Fellow for New Zealand (2019).
Appointment news
Vinay Kwatra Appointed as India’s New Ambassador to the U.S.
The Ministry of External Affairs (MEA) announced on Friday that Vinay Kwatra, the former Foreign Secretary, has been appointed as India’s next Ambassador to the United States. Kwatra will soon take on this new role, filling the vacancy left by Taranjit Sandhu’s retirement in January 2024.
United states of America:
- Capital: Washington, D.C.
- President: Joseph Robinette Biden Jr.
Shikhar Dhawan Appointed Brand Ambassador for MotoGP by Eurosport India
- Eurosport India, an Indian sports channel of Discovery Asia-Pacific has appointed Indian cricketer Shikhar Dhawan as Brand Ambassador for MotoGP in India.
- As an ambassador, Shikhar Dhawan will promote the MotoGP, Grand Prix motorcycle racing, to the audiences across India.
Campaign: New campaign titled ‘Face Kar Race Kar’ aimed at increasing the popularity of motorcycle racing in India.
About MotoGP and Eurosport India:
- MotoGP is a top motorcycle world championship established by the Federation Internationale De Motorcyclisme (FIM) in 1949.
- It is also called the Grand Prix Motorcycle Racing.
About Eurosport India:
- Head – Ruchir Jain
- Headquarters – Mumbai, Maharashtra
- Launched – 2017
Scheme news
Gujarat CM Bhupendra Patel Launches ‘Shramik Basera’ Scheme for Construction Workers
Bhupendra Rajnikant Patel, Chief Minister (CM) of Gujarat has launched ‘Shramik Basera’ scheme, which aims to provide temporary accommodation to about 15,000 construction workers for a daily rent of Rs 5 per day.
- The ground-breaking ceremony for 17 dwelling structures to house the labourers in Ahmedabad, Gandhinagar, Vadodara, and Rajkot cities in the first phase was conducted.
- Patel also attended the ‘Khatamuhurt’ (foundation stone-laying) event at Jagatpur in Ahmedabad, Gujarat.
Scheme Details:
- Aim: Improve the living standards of unorganized sector workers and construction workers.
- Facilities: Clean water, kitchen, electricity, CCTV, toilets, street lights, security, and sanitation.
- Free accommodation for children of labourers up to 6 years.
- Includes ‘Shramik Annapurna Yojana’ for food and free health check-ups.
- Project cost: Rs 1,500 crore, intending to benefit about 3 lakh construction workers over the next three years.
Gujarat:
- Capital: Gandhinagar
- Governor: Acharya Devvrat
- Chief minister: Bhupendra Rajnikant Patel
Important days
International Chess Day 2024: A Global Celebration of Strategy and Intellect
International Chess Day, celebrated annually on July 20th, is a worldwide commemoration that honours the ancient game of chess and its profound impact on global culture, education, and intellectual development.
- Recognized by UNESCO since 1966, this day serves as a platform to promote chess as a powerful tool for education, the cultivation of logical thinking, and cultural exchange across nations.
- As we approach International Chess Day 2024, it’s an opportune moment to explore the rich history, significance, and global celebrations surrounding this revered game.
About the International Chess Federation (Fédération Internationale des Échecs (FIDE)):
- President – Arkady Vladimirovich Dvorkovich (Russia)
- Headquarters – Lausanne, Switzerland
- Motto – ‘Gens una sumus’ (Latin – We are one Family)