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Showing posts from July, 2022

Microsoft To Join ONDC | Will it ends the dominance of Flipkart & Amazon ?

Microsoft joins  India's ONDC WHAT HAS HAPPENED? US firm Microsoft has become the first big tech company to join the Open Network for Digital Commerce (ONDC), A government-backed project which is aimed at enabling small merchants and mom-and-pop stores in parts of the country to access processes and technologies that are typically deployed by large e commerce platforms such as Amazon and Flipkart. The software giant intends to introduce social e-commerce - group buying experience in the Indian market, Which would include a shopping app for Indian consumers along with their social circle, harnessing the ONDC network to discover the best pricing among retailers and sellers. WHAT IS OPEN NETWORK FOR DIGITAL COMMERECE ? It is an initiative aimed at promoting open networks for all aspects of exchange of goods and services over digital or electronic networks. ONDC is to be based on open-sourced methodology, using open specifications and open network protocols inde
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New Rules for Voting registration Introduces by ECI Whats new rule ?

  Election Commission introduces  New voter list rule WHAT HAS HAPPENED ? for voting registration in an effort to ensure greater participation of youth in polls. As per the latest rule, the poll body has decided that those  above 17 years of age can now apply in advance  to register as voters once they turn 18. RULE TILL NOW ? Till recently, people turning 18 on or before January 1 of a particular year were eligible to enrol themselves in the voters' list.  And, those turning 18 after January 1 had to wait for one whole year to register as voters. 4 NEW DATES BY EC Following change in election law, people can resister as voters on January 1, April 1, July 1 and October 1 on turning 18. According to an EC statement on Thursday, the poll panel led by Chief Election Commissioner Rajiv Kumar and Election Commissioner Anup Chandra Pandey has directed, The poll machinery in the states to work out tech-enabled solutions to facilitate those above 17 years of age (
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PM Modi launches India's 1st International Bullion Exchange In Gujarat

India's First International  Bullion Exchange WHAT’S HAPPENING ?   On July 29, Prime Minister Narendra Modi will launch India’s first  bullion exchange — the India International Bullion Exchange (IIBX) —  at Gujarat’s GIFT City (Gujarat International Finance Tec-City),  India’s maiden International Financial Services Centre (IFSC) located  between Ahmedabad and Gandhinagar.  The bullion exchange, which was announced in the 2020 Union  Budget, has not only enrolled jewellers to trade on the exchange, but  has also set up necessary infrastructure to store  physical gold and silver. GIFT City has set up the first International Financial Service Centre in  India (IFSC) in accordance with the SEZ Act 2005. WHO CAN TRADE ON IIBX ? Qualified jewellers will be permitted to import gold through the IIBX. To become qualified jewellers, entities require a minimum net worth of Rs 25 crore and 90 per cent of the average annual turnover in the last
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US economy still in recession | Declining in 2nd quarter too | What will be effect on India ?

Recession begins in USA  Impact on India WHAT HAS HAPPENED? The US economy shrank for a second straight quarter, raising chances of a recession,  As decades-high inflation undercut consumer spending and Federal Reserve interest-rate hikes stymied business investment and housing demand. Gross domestic product fell at a 0.9% annualized rate after a 1.6% decline in the first three months of the year.  The median projection in a Bloomberg survey of economists called for a 0.4% advance in GDP and a 1.2% rise in consumer spending. The report is likely to add to political headaches for President Joe Biden and complicate the Federal Reserve's calculus over how aggressively to raise interest rates. In addition to the slowdown in household spending, the report also showed declines in business investment, government outlays and housing. INFLATION In its continuing bid to cool down raging inflation in the United States - at 9.1% in June, the inflation rate is at a four-
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Why MiG-21 Are Flying Coffins ? | MiG-21 'Bison' crashes in Rajasthan's Barmer |

MiG-21 Jet Crashes In  Rajasthan's Barmer WHAT HAS HAPPENED ? Two pilots have been killed when a MiG-21 fighter aircraft crashed in  Rajasthan's Barmer district on Thursday evening.  The debris of the aircraft was found scattered on a half-kilometer  stretch in Bhimda village in Barmer.  Two fire brigades of Cairn Vedanta reached the spot of the accident  but they struggled to control the fire. The MiG-21 aircraft was involved in a sortie over the Baytu  region when the crash happened.  The exact reason for the crash is not known yet.  The Indian Air Force has ordered a court of inquiry to  ascertain the cause of the accident. ABOUT MIG-21 MiG-21, which is a single-engine multirole fighter or ground  attack aircraft of Soviet era, Was upgraded in 2006 with features including better  avionics, powerful multi-mode radars, and the capability of  transporting a wide range of guided munitions.  The ‘Bison’ is an upgraded version of MiG-21.
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