Category: Economy

MCX Launched India’s 1st Tradeable Real-Time Bullion Index

August 26, 2020

• Multi-Commodity Exchange of India Ltd (MCX) has launched futures trading on the country’s first tradeable real-time bullion index named MCX iCOMDEX Bullion , or Bulldex. The index will track the real-time performance of the gold (1kg) and silver (30kg) futures contracts, the flagship future products on the Exchange.

Reliance Retail Ventures Ltd Acquired stake in Vitalic Health Pvt Ltd & Netmeds

August 20, 2020

• Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries Limited (RIL) has acquired 60% equity stake in Vitalic Health Pvt Ltd(Vitalic) and 100% direct equity in Netmeds.

Flipkart partnered with IIT Patna for Industry Focused Research

August 19, 2020

• Flipkart signed a memorandum of understanding (MoU) with Indian Institute of Technology (IIT) Patna to support the industry focused applied research in the fields like Artificial Intelligence (AI), Natural Language Processing (NLP) and Machine Learning (ML).

India’s first bullion index named Bulldex to be launched on 24th August

August 17, 2020

• India’s first bullion index named Bulldex to be launched on 24^th August by the Multi Commodity Exchange of India (MCX).

Prime Minister Narendra Modi launched the platform for “Transparent Taxation – Honoring the Honest”

August 13, 2020

• Prime Minister Narendra Modi has launched the platform for “Transparent Taxation – Honoring the Honest” with an aim to honor India’s taxpayers who have been sincere with taxes.
• This will further carry forward the journey of direct tax reforms which the Central Board of Direct Taxes under its chairman Pramod Chandra Mody took over a period of time.

India’s 1st Pocket Android POS Device launched by Paytm

August 12, 2020

• India’s 1st Pocket Android POS(Point of Sale) Device, ‘Paytm All-in-One Portable Android Smart POS’ for contactless ordering and payments in India has been launched by PayTm.

AIIB and WB are planning to provide $8-billion health infra scheme

August 8, 2020

• Asian Infrastructure Investment Bank(AIIB) and World Bank(WB) are discussing to provide India help of $8-billion to boost health infrastructure schemes at the district level.

An amount of $15 million contributed by Indian Govt. to India-UN Development Partnership Fund

August 6, 2020

• An amount of $15 million contributed by Indian Govt. to India-UN Development Partnership Fund to support developing nations in their developmental priorities across all Sustainable Development Goals (SDG).
• TS Tirumurti, India’s Permanent Representative to the UN Ambassador, had handed over a cheque of $15.46 million to Jorje Chediek, Director, United Nations Office for South-South Cooperation (UNOSSC).

ADB-funded a project worth Rs 700 crore approved by the government to help farmers in Maharashtra

August 4, 2020

• Maharashtra has approved an ADB-funded Rs 1,000 crore project for boosting fruit and vegetable production in the state. The Maharashtra Agribusiness Network (MagNet) project, which has been approved, aims to help farmers across all districts in the state for the next six years.

Virtual museum of the securities market will come up soon

August 3, 2020

• Securities and Exchange Board of India (SEBI) has planned to set up a virtual museum of the securities market to showcase the achievements and milestones in the Indian capital market. The museum will display the photos, videos, articles, media clippings, an interactive display like quiz, paintings, drawings, diagrams, graphs, newspaper articles, transcripts of interviews and numerical databases, of their achievements.