KARNATAKA
Ease of doing business in Karnataka: VCs, raw material to be a click away
From integrating sources of credit supply — banks to venture capitalists (VCs) — to providing a marketplace to buy raw material and sell finished goods and a host of other provisions, Karnataka is planning a digital platform for industries, that will boost the ease of doing business.
According to the industries department, the proposed technology portal will have eight modules targeted at addressing issues faced in specific areas. It is proposed to be equipped with modular mechanisms and structures around information, facilitation, regulatory, and ease-ofdoing-business areas, which can help industries, especially MSMEs, efficiently bring their products to the market.
The platform will integrate conventional sources of credit supply like banks and NBFCs and non-conventional sources such as private equity, VCs, Trade Receivables Discounting, etc. This particular module will also integrate credit-enhancement schemes with financing agencies to provide access to lowcost funds for MSMEs.
One module will provide access to analytics, market research, intelligence and other IT technology to help bring efficiency in operations created on the platform, which will have another module for dissemination of information pertaining to new-age skills emerging in different domains required by industries.
INTERNATIONAL
Joe Biden takes over as President, Kamala Harris as Vice President of US
Joe Biden took oath as the 46th President of the United States of America at a ceremony in the US Capitol building in Washington.
78 year old Biden has become the oldest US President in history.
His deputy Kamala Harris was also sworn in as 49th Vice-President of the country.
The daughter of immigrants from Jamaica and India, Kamala Harris made history as America’s first woman and first person with south Asian roots to take the office of the Vice President.
Mr Trump along with Melinia Trump left White House for Florida ahead of the oath taking ceremony, handing over the charge to the Biden administration.
NATIONAL
Union Cabinet approves MoU between India, Uzbekistan for cooperation in field of Solar Energy
The Union Cabinet approved a Memorandum of Understanding (MoU) between India and Uzbekistan for cooperation in the field of Solar Energy.
The main area of work under the MoU is to identify research, demonstration and initiation of pilot projects between the National Institute of Solar Energy (NISE) under the Ministry of New and Renewable Energy, India and the International Solar Energy Institute, Uzbekistan.
The research and cooperation will primarily focus in the areas of Solar Photovoltaic, Storage Technologies and Transfer of Technologies.
Based on mutual agreement, both parties would work for implementation and deployment of pilot projects in International Solar Alliance (ISA) member countries.
NITI Aayog releases 2nd edition of India Innovation Index-2020
The NITI Aayog released the second edition of the India Innovation Index-2020.
The index demonstrates the government’s continued commitment towards transforming the country into an innovation-driven economy.
In the India Innovation Index-2020, the States and Union Territories have been divided into 17 Major States, 10 North-East and Hill States and nine Union Territories and Small States for effectively comparing their performance.
In the 2020 ranking, Karnataka retained its first position in the Major States category.
Maharashtra moved one position higher and stood at 2nd spot while Tamil Nadu slid to 3rd position.
In the North East and Hill States category, Himachal Pradesh stands at first position followed by Uttarakhand and Manipur.
Delhi stands at the first position while Chandigarh retained its second spot in the Union Territories and small States category.
Cabinet approves Rs 5,282 cr investment for Ratle Hydro Power Project in J&K
The Cabinet has given its approval for the investment of over 5200 crore rupees for 850 MW Ratle Hydro Electric (HE) Project located on river Chenab, in Kishtwar in the Union Territory of Jammu and Kashmir.
This will be a new Joint Venture Company (JVC) of National Hydroelectric Power Corporation (NHPC) and Jammu and Kashmir State Power Development Corporation Ltd (JKSPDC) with equity contribution of 51 per cent and 49 per cent respectively.
The Ratle Hydro Electric Project shall be commissioned within 60 months.
The Power generated from the Project will help in providing balancing of Grid and will improve the power supply position.
Flight Lieutenant Bhawana Kanth to become the first Woman Fighter Pilot to take part in Republic Day Parade
Flight lieutenant Bhawana Kanth will create a historic moment when she will become the first woman fighter pilot to take part in the Republic Day parade on 26 January 2021.
She is one of the first women fighter pilots to be inducted in the IAF.
Kanth will be the part of the Indian Air Force’s (IAF’s) tableau in the parade.
The IAF tableau will showcase mock-ups of the light combat aircraft, light combat helicopter and the Sukhoi-30 fighter plane.
Currently Kanth is posted at an airbase in Rajasthan where she flies the MiG-21 Bison fighter plane.
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