KARNATAKA

ADB Approves $190 Million Loan to Upgrade Power Distribution System in Bengaluru

The Manila-based Asian Development Bank (ADB) has approved a loan of $190 million (approx Rs 1,400 crore) to modernize and upgrade the power distribution system in Bengaluru, Karnataka.

The financial-assistance by ADB will be used for the Bengaluru Smart Energy Efficient Power Distribution Project.

The $190 million loan includes a $100 million sovereign loan and a $90 million non-sovereign guarantee loan to Bangalore Electricity Supply Company Limited (BESCOM).

BESCOM is one of five state-owned distribution utilities and the largest in Karnataka.

This combination of sovereign and non-sovereign loans is being deployed by ADB in India on a pilot basis for the first time.

INTERNATIONAL

Nomura Expects India to be fastest growing Asian economy in 2021 at 9.9%

The Japanese research and brokerage house Nomura has projected India to be the fastest growing Asian economy in 2021.

Nomura has estimated the gross domestic product (GDP) growth of India for the calendar year 2021 (CY21) at 9.9%.

For calendar year 2020 (CY20), Nomura expects GDP growth at-7.1 percent.

Apart from this, the Nomura expects GDP at -8.2 percent in FY21, and 11.9 percent in FY22.

UNESCO to launch international prize in the name of Bangabandhu Sheikh Mujib

UNESCO has decided to launch an international prize in the field of ‘creative economy’ in the name of Bangabandhu Sheikh Mujibur Rahman.

Starting November 2021, the dollar 50 thousand award will be given away once in two years for global economic initiatives of the youth.

The international award will create a knowledge-sharing mechanism by capturing, celebrating and communicating best practice in the development of creative entrepreneurship.

UNESCO has declared 2021 as ‘International Year of Creative Economy for Sustainable Development’.

Currently, there are 23 UNESCO International Awards in the name of international celebrities and organisations.

NATIONAL

Handicraft and GI Toys exempted from Quality Control Order

Centre has exempted Handicraft and Geographical Indications toys from Quality Control Order.

Department for Promotion of Industry and Internal Trade mentioned this exemption in Toys (Quality Control) Second Amendment Order, 2020.

Quality control order was issued by the Department for standardization and quality adherence of Toys and the order will come into effect from 1st January next year.

This order aims to bring forward the synergized efforts of the centre, states and the stakeholders to promote ‘Team up for toys’ vision keeping quality standards of the indigenous toys as the priority.

BSE launches e-agricultural spot market platform ‘BEAM’

BSE Ltd. has launched an electronic spot platform, BSE E-Agricultural Markets Ltd (BEAM) , for agricultural commodities through its subsidiary BSE Investments Ltd.

BEAM will function as a national level, institutionalised, electronic, transparent commodity spot trading platform in line with the Prime Minister’s vision to create a single market.

With the help of BEAM, farmers in one state will be able to reach out to markets in other states and auction their produce.

The farmers will be able to discover best prices for their produce based on the quality, as well as build capacity to help intermediaries, processors and exporters procure from states.

Ministry Of Tourism Organized A Dekho Apna Desh Webinar Series

The Ministry of Tourism organized a webinar about “Birding in India” under the Dekho Apna Desh webinar series.

The Ministry of Tourism has launched the “DekhoApnaDesh” webinar series in order to provide information about the many destinations and the depth and breadth of India’s incredible culture and heritage.

It aims to showcase the rich diversity of India under the leadership of Ek Bharat Shreshtha Bharat.

It will be available on the Ministry’s social media handles- Incredible India on Instagram and Facebook.

It established a technical partnership with the National e-Governance Department of the Ministry of Electronics and Information Technology.

Helpage India Has Been Presented The UN Population Award

HelpAge India won the 2020 UN Population Award in the Institution category. The Queen Mother of Bhutan, Gyalyum Sangay Choden Wangchuck, won the 2020 UN Population Award for Individuals for her work on sexual health and the elimination of gender-based violence.

Every year, the United Nations Population Award Committee recognizes individuals or institutions for their outstanding contributions to population and reproductive health problems and solutions.

The award was first established in 1981 by the General Assembly and was first awarded in 1983. The award includes a gold medal, a diploma and a currency award.

It is India’s leading charity organization, working with disadvantaged seniors and serving them for nearly 40 years. It was established in 1978 and was registered under the Association Registration Act of 1860.

This is the first time in the history of the United Nations Population Award that this honour has been awarded to an institution in India.

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