World Bank approves $1.5 billion for India’s low-carbon energy sector.

  • The World Bank has approved $1.5 billion in financing to accelerate the development of India’s low-carbon energy sector.
  • Aim: To help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen, and stimulating climate finance for low-carbon energy investments.
  • The program will support the successful implementation of the National Green Hydrogen Mission which aims to stimulate $100 billion in private-sector investment by 2030.

Rajindar Singh Dhatt honoured with the Points of Light Award 2023.

  • British Prime Minister Rishi Sunak honored Rajindar Singh Dhatt (101) with a Points of Light award on June 28th, 2023.
  • He was recognized for his service and work running the Undivided Indian Ex-Servicemen's Association.
  • The Points of Light award recognize outstanding people whose service is making a difference in their communities and whose stories can inspire others towards innovative solutions to social challenges in their own communities and beyond.

India's first-ever report on Critical Minerals for India unveiled.

  • Union Minister of Mines Pralhad Joshi has unveiled India's first-ever report on Critical Minerals for India.
  • The report identifies 30 critical minerals essential for sectors including defense, agriculture, and telecom.
  • This list marks a milestone in India's pursuit of self-reliance and security in mineral resources, aligning with the vision of achieving Net Zero targets.
  • Aim: To guide policy formulation, strategic planning, and investment decisions in this sector

PM Modi to inaugurate 17th Indian Cooperative Congress in New Delhi.

  • PM Narendra Modi will inaugurate the 17th Indian Cooperative Congress (ICC) on July 1st, 2023 at Pragati Maidan in New Delhi.
  • The two days Indian Cooperative Congress would be organized by the National Cooperative Union of India.
  • Theme 2023: Amrit Kaal: Prosperity through Cooperation for a Vibrant India
  • Chaired by: HM Amit Shah
  • Aim: To discuss various trends in the cooperative movement, to showcase the best practices being adopted by the successful cooperatives

After Merger, HDFC to vault into ranks of world's most valuable banks.

  • According to Bloomberg, after the tie-up of HDFC Bank Ltd and Housing Development Finance Corp, the lender would rank fourth in equity market capitalization.
  • It's valued at about $172 billion.
  • With the merger likely effective July 1, the new HDFC Bank entity will have around 120 million customers, which is greater than the population of Germany.
  • JPMorgan Chase & Co ranked first, followed by Industrial and Commercial Bank of China Ltd and Bank of America Corp.

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