AspirantWorld One liners : 16th July

• Establish and operate the International Trade Financial Service Platform (ITFS) to provide a framework for trade financial services in the International Financial Service Center. The IFSCA has issued a framework for establishing and operating an International Trade Finance Services Platform.

• The National Bank for Agriculture and Rural Development is celebrating its 40th anniversary. NABARD is a development bank that focuses primarily on the country’s rural sector. It is the apex banking institution for agricultural and rural development financing.

• On the occasion of Ashadhi Bij, the Kutchi New Year, Prime Minister Narendra Modi greets the people. Ashadhi Bij is an auspicious day for agricultural communities in northern India, espicially Uttar Pradesh, Gujarat, and other places.

• The Reserve Bank of India (RBI) has announced a scheme that will allow retail investors to open retail direct gilt accounts (RDG) directly with the central bank. In February 2021, the RBI Retail Direct facility was announced as part of ongoing efforts to increase retail participation in government securities.

• A Memorandum of Understanding was signed between the Agricultural and Processed Food Products Export Development Authority (APEDA) and the National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED). Goal of the Memorandum of Understanding: Take advantage of the export potential of agricultural products and processed.

• Mission Turmeric 2021, a campaign led by a former naval officer who is an expert in soil-less agriculture, has been currently in progress. It intends to start an “orange revolution” by teaching people how to grow turmeric in shade houses in grow bags (large porous containers made of high density polyethylene) packed.

• The UV-C disinfection technology developed by the Council for Scientific and Industrial Research will be installed in the council. The Union Minister of State for Science and Technology met with senior CSIR scientists to discuss the logistics of installing the system in Parliament before the monsoon session.

• In Bhutan, BHIM–UPI was launched. On the occasion, India’s Finance Minister stated that the services have begun in Bhutan as part of India’s “neighbourhood first” policy. BHIM UPI is one of the highlights of digital transactions in India

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