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Daily News Digest:01 July 2020

Indian Stamp Act, 1899 (Amendment) to come into effect from 1 July 2020

The amendments that have been brought through the Finance Act 2019 and rules created under the act in the Indian Stamp Act, 1899 will take effect from 1 July 2020. The Government of India has created the institutional and legal mechanism via the necessary amendments to enable ease of doing business and bring uniformity on stamp duty throughout all the states and develop a pan-India securities market as a result of it. The amendments made to the Indian Stamp Act, 1899 will enable the states to accumulate stamp duty at one place by one agency and through one instrument for the securities market instruments.

Increase of 19 billion US dollar in Direct investment coming into the country

According to the Reserve Bank of India, the direct investment coming into the country has increased by USD 19 billion, whereas the portfolio investment has seen a reduction of USD 13.7 billion in the 2019-20 period. As per the data released by the International Investment Position (IIP), that was released by the central bank (RBI) on 30 June 2020, the international financial assets of Indian residents have risen by USD 73.9 billion.

RBI has launched an inflation expectations survey to collect responses over telephone

The Central Bank of India (RBI) has recently launched the July 2020 round of the Inflation expectations Survey of Households to collect responses of the participants over the telephone. The survey is being held over the telephone on account of the COVID-19 pandemic that has gripped the world. The objective of the survey is to capture approximately 6,000 household’s subjective assessments on the movement of inflation and price, on the basis of the individual consumption baskets in 18 cities.

Bangladesh has formed a 50:50 Joint Venture Company with India for LPG business in Bangladesh

The easter neighbour of India, Bangladesh has signed a pact for the creation of a 50:50 Joint Venture Company (JVC) for the business of Liquified Petroleum Gas (LPG) in Bangladesh. The holding company of Beximco LPG of Bangladesh, RR Holdings Ltd., Ras Al Khaimah, UAE, signed the agreement with the wholly-owned subsidiary of Indian Oil Corporation (IOC), IOC Middle East FZE, Dubai. The new venture will help in decreasing the cost of import of LPG in Bangladesh and make it more affordable for the consumers of Bangladesh.

The Ministry of HRD has launched the World’s first online B.Sc. degree in Programming & Data Science

The world’s first-ever online B.Sc. degree in Programming and Data Science was launched by the Minister of Human Resources and Development, Ramesh Pokhriyal Nishank on 30th June 2020. The Indian Institute of Technology (IIT) Madras has prepared the programme and is offering it.

Udyam will provide a new simplified process for MSME registration

Udyam will provide a New simplified mechanism for MSME registration from 1 July 2020. The registration process will be completely digital, paperless and on the basis of self-declaration. The Udyam registration process will not require any documents or proof for uploading on the portal for the registration of an MSME.

National Doctors Day observed on 1 July 2020

The National Doctor's Day is observed on 1 July every year to recognize the efforts of physicians and doctors. The day marks the birth and death anniversary of Dr Bidhan Chandra Roy, who also served as the Chief Minister of West Bengal. The theme of National Doctor's Day 2020 is 'Lessen the mortality of COVID 19'. 

A Wombat cousin of the size of Bear roamed Australia 25 million years ago

Modern Wombats had a powerful relative the size of a black bear, that used to roam the woodlands of Australia about 25 million years ago and possessed strong forelimbs and shovel-shaped hands which indicate that it was good at digging. The name of the mammal is known as Mukupirna nambensis from the fossil of a partial skull and the skeleton uncovered at Pinpa Lake in the northeastern South Australia state. The animal was a plant-eating animal and is among the earliest-known large-bodied marsupials of Australia.

Two global awards awarded to AI enabled MyGov Corona Helpdesk of India

Two awards have been awarded to the MyGov Corona Helpdesk of India, which has been enabled by Artificial Intelligence (AI) at the Global Leadership Summit and Festival of AI and Emerging Technology, CogX 2020 in London, the United Kingdom. The award was given to JioHaptik Technologies, the Technical Partner of Mygov.

The ‘MyGov Corona Helpdesk’ has received over 76 million messages and 41 million conversations have been processed in the wake of the COVID-19 outbreak. The platform was also used to provide the latest information on COVID-19, and contain the spread of misinformation and rumours.

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