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Birthday wishes to a legend: Mr.Shiv Nadar, the Founder of HCL Technologies

by Today's Fables

Birthday wishes to Mr.Shiv Nadar, the Founder of HCL Technologies and Shiv Nadar Foundation.A pioneer of the IT and computing industry in India.Nadar founded HCL in the year 1976 and transformed the IT hardware company into an IT enterprise over the next three decades.

Nadar was awarded Padma Bhushan for his efforts in the IT industry. He was honored by the US-India Strategic Partnership Forum with Lifetime Achievement Award for his pioneering contribution to business and philanthropy. 

Wishing him good health and continued success in all his endeavours!

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Infosys Foundation USA joins forces with Congressional App Challenge to Champion STEM Education across the U.S

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Infosys Foundation USA, a non-profit organization dedicated to expanding computer science, maker, and STEM education, today announced that it is a sponsor of The Congressional App Challenge.

The Congressional App Challenge is an official initiative of the U.S. House of Representatives, where members of Congress host contests in their districts for middle school and high school students, encouraging them to learn to code and inspiring them to pursue careers in computer science. Since its inception in 2015, the Challenge has inspired over 58,000 students across all 50 states to engage with STEM education, transforming Congress’ approach to expanding skilling and STEM education.

This initiative exemplifies Infosys Foundation USA’s commitment to increasing diversity and equity in computer science education, through focused initiatives that reach under-represented communities.

The 2023 Challenge saw record high participation, with 374 members of Congress representing all 50 states hosting app challenges for a remarkable 11,334 students. Among the participants, nearly 40% were girls and around 25% were Black, Hispanic or Native Americans. The Challenge is demonstrating remarkable results, with 80% of the program’s alumni studying STEM fields in college.

“We are excited to join forces with Infosys Foundation USA in our shared commitment to promoting STEM education for all,” said Joseph Alessi, Program Director, Congressional App Challenge. “Together, we will continue to expand opportunities for student innovators from all backgrounds to showcase their talents and give them the tools to enhance the future of technology.”

“We are delighted to be a sponsor of the Congressional App Challenge and advance our shared mission to expand STEM education,” said Kate Maloney, Executive Director, Infosys Foundation USA. “By sponsoring this initiative, we hope to inspire more students nationwide to learn CS and pursue a career that leverages digital skills. Together, we will empower students from all backgrounds to unlock their potential and contribute to the future of technology.”

As the 2024 Challenge gains momentum following its launch on May 1st, the Congressional App Challenge pledges to leverage this collaboration and its growing network of supporters to deliver the most impactful and inclusive program yet.

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REC Limited avails green loan facility of JPY 31.96 Billion (USD 200 Million) from Deutsche Bank AG, Gift City Branch

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In a significant step towards sustainable development in India, REC Limited, a leader in the Indian power sector, has successfully availed a green loan of JPY 31.96 Billion (equivalent to USD 200 million) to finance eligible green projects in India. This strategic investment reinforces REC’s commitment to foster sustainable growth, in alignment with the Company’s Green Finance Framework.  

This green facility is a first of its kind successful collaboration between an Indian government entity and Deutsche Bank AG, GIFT City branch. This facility sets a benchmark in the Indian public sector landscape for similar green financing transactions, highlighting a growing commitment to sustainable financing. The facility also marks one of the first JPY-denominated green loan transaction for Deutsche Bank AG, GIFT City.

This facility demonstrates dedication of REC Limited and its partners for supporting projects that meet rigorous environmental standards, promote renewable energy and contribute to reducing carbon emissions throughout India. Additionally, it also reflects the growing momentum towards green financing and the collective efforts of stakeholders to address environmental challenges.

Commenting on this occasion, Mr. Vivek Kumar Dewangan, IAS, CMD, REC said, “This successful transaction is in line with REC’s commitment to enhance its green energy financing and sustainable projects capabilities as well as the global community’s support for sustainable development projects in India. This benchmark transaction is anticipated to pave way for more such collaborations in future which can help in achieving nation’s goals in green space financing.”

 

Mr Kaushik Shaparia, CEO, Deutsche Bank Group, India said, “Our collaboration with REC underscores our steadfast commitment to advancing environmentally responsible initiatives and promoting sustainable financing within India. This transaction reinforces Deutsche Bank’s expertise in green financing, demonstrating our ability to support clients in their transformation towards a carbon-free future.”

About REC Limited:

REC is a ‘Maharatna’ company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc. REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country.

REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). It is also designated as the National Programme Implementation Agency (NPIA) for “PM Surya Ghar: Muft Bijli Yojana” with aim to increase the share of solar rooftop capacity and empower residential households to generate their own electricity. The loan book of REC stands at ₹ 5.09 lakh crore and Net Worth at Rs. ₹ 68,783 crore as on 31 March, 2024.

About Deutsche Bank

Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific. The bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals.

The Deutsche Bank group has been operating in India since 1980 with a strong presence in the businesses of corporate and investment banking, retail banking, private wealth management and global business services. With more than 21000 staff and operations across 18 locations in India, the group is recognised as one of the leading foreign financial service providers in India.

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Second Regional Event of ‘Hamara Samvidhan Hamara Samman’ to be held in Prayagraj, Uttar Pradesh on Tuesday

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The second regional event of the year-long celebration, ‘Hamara Samvidhan Hamara Samman’ campaign is being organised under the aegis of Designing Innovative solutions for Holistic Access to Justice (DISHA), a Central Sector Scheme implemented by Department of Justice, Ministry of Law and Justice, Government of India.  The event is set to take place on 16th July 2024 at the Allahabad Medical Association Convention Centre in Prayagraj, commemorating the 75th anniversary of the adoption of the Indian Constitution and India as a Republic.

This event will feature the distribution of prizes to the winners of the online competitions held from 24th January to 23rd April 2024 on the MyGov platform. The competitions include the Samvidhan Quiz, Panch Pran Rangotsav (Poster-making), and Panch Pran Anubhav (Reel-making). Additionally, probono advocates panel of the Hon’ble High Court of Judicature at Allahabad registered under the Nyaya Bandhu programme of the Department of Justice will be recognized and felicitated for their significant contributions in encouraging a large number of advocates to enroll for pro bono services.

In an effort to enhance citizen participation, the ‘Hamara Samvidhan Hamara Samman’ portal will be launched at the event. This portal will serve as a repository of knowledge, providing citizens with easy access to information to create awareness about the Constitution and legal rights. It will also feature glimpses of the activities carried out under the campaign.  Additionally, it will also consist of an event calendar and tools to make learning about constitutional rights interactive and participative through a community-based collaborative approach. 

The event will be graced by the presence of the Minister of State for Law and Justice (Independent Charge) and Minister of State for Parliamentary Affairs, Shri Arun Ram Meghwal, and the Honourable Chief Justice of the High Court of Judicature at Allahabad, Shri Justice Arun Bhansali. Approximately 800 participants, including advocates from the Allahabad Bar, government counsels, judicial officers, village-level entrepreneurs from Common Service Centers, the vice-chancellor, faculty and law students from Rajendra Prasad National Law Institute, Prayagraj, senior officials from the Central and State administration, and citizens will attend the event, in person besides several citizens and stakeholders of DoJ who will join digitally.

The ‘Hamara Samvidhan Hamara Samman’ campaign was inaugurated at the Dr. B.R. Ambedkar International Centre in New Delhi by the Hon’ble Vice-President of India on 24th January 2024. The campaign aims to popularize the understanding of the Constitution and awareness about legal rights. Going forward, it was decided that this campaign needs to be organised at regional levels to increase the participation and inclusivity.  Accordingly, first regional event was inaugurated by Honourable Chief Justice of India, Shri Justice D.Y.Chandrachud, in Bikaner, Rajasthan on 9th March 2024. 

Some key milestones for this pan-India campaign include:

  • Commemorating ‘Hamara Samvidhan Hamara Samman’ at the regional level.
  • Promoting and spreading awareness about the Constitution in simplified ways for the local populace.
  • Organizing and popularizing sub-campaigns such as Sabko Nyaya Har Ghar Nyaya, Nav Bharat Nav Sankalp, and Vidhi Jagriti Abhiyaan.
  • Encouraging citizens to actively participate on the ‘Hamara Samvidhan Hamara Samman’ portal.
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NITI Aayog Unveils GearShift Challenge to Accelerate Zero-Emission Truck Adoption in India

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NITI Aayog, in collaboration with IIM Bangalore, Smart Freight Centre India, CALSTART/Drive to Zero, and WRI India, announced the launch of the NITI GearShift Challenge as part of the e-FAST India initiative. This pioneering hackathon aims to foster innovative business models for the adoption of zero-emission trucks (ZETs) in India, addressing the nation’s pressing economic and environmental challenges.

The NITI GearShift Challenge invites students, transport service practitioners, academics, and researchers to develop innovative business models that address financial, technical, and operational challenges in the adoption of electric trucks. The program has garnered participation from e-FAST India knowledge partners, financial institutions, and industry forums.

The hackathon will unfold in two rounds. In Round 1, teams will submit their initial business models addressing a specific barrier—technical, operational, or financial—supported by high-level strategies and research. Shortlisted teams in Round 2 will present detailed business models with an implementation roadmap, backed by both primary and secondary research. These proposals will be mentored by industry leaders to ensure practical and impactful solutions.

India’s freight sector is vital to the economy, ensuring the smooth delivery of goods to over 1.4 billion people. With road freight accounting for a staggering 55% of India’s annual diesel consumption and nearly 40% of CO2 emissions from road transport, there is an urgent need to transition to more sustainable solutions. The electrification of freight transportation is a key priority, as electric trucks offer a transformative opportunity to reduce emissions, improve air quality, and enhance energy security.

The GearShift Challenge marks a pivotal move towards sustainable freight transportation in India. By tapping into the creativity and expertise of participants, the hackathon aims to generate practical solutions that will accelerate the adoption of zero-emission trucks, thereby benefiting both the economy and the environment.

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BIMSTEC Foreign Ministers call on Prime Minister Narendra Modi

by Today's Fables

Foreign Ministers from the BIMSTEC Member States paid a joint call on Prime Minister Shri Narendra Modi today.

PM had fruitful discussions with the group of Ministers on further strengthening the regional cooperation in diverse areas including connectivity, energy, trade, health, agriculture, science, security and people to people exchanges. He stressed on the role of BIMSTEC as an engine for economic and social growth.

He reaffirmed India’s commitment to a peaceful, prosperous, resilient and safe BIMSTEC region and highlighted its significance to India’s Neighbourhood First and Look East Policies as well as in its SAGAR vision for Security and Growth for All in the Region.

PM expressed India’s full support to Thailand for the upcoming BIMSTEC Summit to be held in September.

DAY-NRLM has mobilised more than 10.04 crore women into over 90.76 lakh self-help groups: Shri Charanjit Singh

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Additional Secretary, Rural Livelihoods, Ministry of Rural Development Shri Charanjit Singh reaffirmed the government’s commitment to fight the twin challenges of climate change and poverty by providing inclusive livelihoods to the last mile. Shri Charanjit Singh made these remarks at the exclusive Reimagining Poverty Alleviation in India roundtable organised by the Abdul Latif Jameel Poverty Action Lab (J-PAL) South Asia at New Delhi yesterday.

“No one should be left behind” as the government works towards realising the Prime Minister Shri Narendra Modi’s vision of making India a developed nation by 2047”,  Shri Charanjit Singh said. He added that there is an urgent need to address the unique challenges faced by the poor women, which can often vary from State to State. The knowledge of the local community is vital to identify and solve such challenges. Speaking of MoRD’s innovative partnerships under DAY-NRLM, Shri Singh emphasised on the need and significance of multi-stakeholder collaborations to reach people at the last mile to end poverty. “If we work together, we can make a lot of difference,” he said.

Shri Singh informed that DAY-NRLM has mobilised more than 10.04 crore women into over 90.76 lakh self-help groups. It promotes financial inclusion, digital literacy, sustainable livelihoods and social development interventions. A holistic and inclusive approach to livelihood development for women has been a key feature of DAY-NRLM.

Speaking at the event, Joint Secretary, Rural Livelihoods, Ministry of Rural Development Ms Smriti Sharan said that ministry has been working in close collaboration with State governments to ensure effective implementation of the innovative projects in this field which are an adaptation of the Graduation Approach. These have been designed to put rural women on the path to self-sufficiency. The States have been adapting the program based on their priority areas. They are also working towards ensuring the poor households are brought under other social protection programmes. Stressing the need of scientific evidence and data as well as technology to tackle the multidimensional nature of poverty, Ms Smriti Sharan said that we have to move beyond the definition of monetary poverty.

J-PAL co-founder and Nobel Laureate Shri Abhijit Banerjee said that the Graduation Approach model can play a vital role in protecting the poor. These people are excluded but as soon as they get a chance, they begin taking charge of their lives.

Graduation Approach is a holistic livelihoods programme developed by NGO BRAC. It is among the most rigorously tested social protection programmes in the world today. Seven randomised evaluations by researchers affiliated with J-PAL and Innovations for Poverty Action have found the Graduation Approach to be effective in lifting the poor households out of poverty. It has reached more than 3 million households across 15 countries.

The roundtable was attended by representatives from MoRD, JEEViKA, BRAC, BMGF, World Bank and The/Nudge Institute among others. J-PAL co-founder and Nobel Laureate Abhijit Banerjee also shared his insights and lessons from studying the effects of the Graduation Approach for approximately two decades.

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Bilateral meeting between India and Bhutan on Air quality, Climate change, Forests, Natural resources, renewable energy sources and wildlife

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A delegation from the Royal Government of Bhutan, headed by Mr Gem Tshering, Minister of Energy and Natural Resources, Government of Bhutan met Shri Kirti Vardhan Singh, Union Minister of State for Environment, Forest and Climate Change and discussed issues related to air quality, climate change, forests, natural resources, wildlife and renewable energy.

Shri Kirti Vardhan Singh thanked the Bhutanese Minister on joining the International Big Cat Alliance, a global initiative of India. He stated that both countries share same geography, ecosystem, as well as common values of democracy. He further stated that climate change is a common concern for both the countries.

Mr. Tshering informed about successfully hosting the Sustainable Finance for Tiger Landscape Conference in April 2024 in Paro. He stated that Bhutan is already a carbon negative country and obtains its major share of energy from hydropower.

Both sides agreed to work together in the areas of climate change, air quality, forest, wildlife management, and capacity building in the field of environment and climate change. India suggested to hold the Joint Working Group Meeting.

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Indian delegation visits Doha for India-Qatar Joint Working Group Meeting

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An Indian delegation comprising of officers from Department of Commerce and other Ministries and organizations held a Joint Working Group (JWG) meeting with Qatari side in Doha on 10th July, 2024.

Both sides also reviewed the progress of ongoing discussions for Memorandum of Understanding (MoUs) on Food Safety and Cooperation in exchange of pre-arrival information for facilitation of trade and customs control on goods and agreed to conclude them expeditiously. Both sides agreed to expeditiously address all issues impeding bilateral trade and facilitate trade promotion between the two countries.

Both sides discussed the possible mechanism to activate the Joint Business Council to carry out its assigned role in following up and implementing the private sector’s visions and proposals for trade and investment cooperation.

Both sides undertook a detailed review of recent developments in bilateral trade and economic cooperation and noted that the relationship has a huge potential to be scaled up even further. To this effect, both sides identified several areas of focus for enhancing both bilateral trade as well as mutually beneficial cooperation sectors. These include Gems and Jewellery, cooperation between customs authorities, trade in local currency, pharmaceuticals, food processing and food security, cooperation in MSME, etc.

The JWG meeting was co-chaired by Economic Advisor, Department of Commerce, Ministry of Commerce and Industry, Government of India, Ms. Priya P. Nair and Director of International Cooperation and Trade Agreements at the Ministry of Commerce and Industry, Government of the State of Qatar, Mr. Saleh Al-Mana.

Bilateral trade between India and Qatar stood at USD 14.08 billion in 2023-24. India is the second largest trading partner to Qatar. Both sides agreed to hold the next meeting of the JWG in 2025, in New Delhi. The deliberations of the first session of India-Qatar JWG were cordial and forward-looking, reflecting the friendly and special relations between the two countries.