Current Affairs 2nd August

National Affairs

1. TRAI and C-DoT Sign MoU to Establish Mechanism of Technical and Institutional Cooperation in Telecommunications

On 25th July 2023, the Telecom Administrative Power of India (TRAI) and the Middle for

Improvement of Telematics (C-Spot) marked an update of figuring out (MoU) to

lay out the component of specialized and institutional participation in media communications, at TRAI base camp in New Delhi, Delhi.

 

The MoU has been endorsed by Anil Kumar Bhardwaj, DG (TRAI CSR) and Rajeev Kumar,

Recorder, C-Spot.

 

Result of the MoU:

 

C-DoT and TRAI Centre of Studies and Research (TRAI CSR) have collaborated to investigate the potential of new technologies through the MOU.

 

The MoU moves toward policy research, regulatory studies, and the dissemination of new telecom and broadcasting technologies knowledge.

 

About CSR at TRAI:

 

Within TRAI, the TRAI CSR was established to conceptualize, coordinate, and facilitate technological studies in the telecom and broadcasting industries.

 

Its undertaking is to empower innovation-driven development in India by joining the energies of various enterprises and areas.

 

C-DOT Signs Consortium Agreement with Leading Industry Partners for “Collaborative Development of Disaggregated 5G RAN Solution” The Centre for Development of Telematics (C-DOT), the Department of Telecommunications (DoT)’s premier Telecom Research and Development (R&D) Center, has signed a consortium agreement with leading industry partners to strengthen India’s telecom R&D capabilities.

 

The business accomplices incorporate Lekha Remote Arrangements Private Ltd, Signaltron Frameworks Confidential Ltd, Sooktha Counseling Private Ltd, and Resonous Advances Private Ltd.

 

The joint effort intends to make an Open Radio Access Organization (O-RAN)compliant

disaggregated 5G RAN arrangement that can successfully work in the FR1 and FR2 (Recurrence Range) recurrence groups, taking special care of both public and confidential 5G organizations.

 

Late Related News:-

 

On seventh February 2023, K Rajaraman, Director, Advanced Correspondences Commission (DCC) & Secretary of the Division of Media Communications, Service of Correspondences (MOC), sent off the ‘IEEE C-Spot Ensured Telecom Master Program (ICCTEP)’ to acquire learning the areas of Telecom including 5G, Network safety and Quantum Correspondence to connect the ability hole. The main program sent off on the stage is on 5G and then some.

2. Overview of SemiconIndia Conference 2023 held from 28th-30th July 2023 in Gujarat

On 28th July 2023, Head of state (PM) Narendra Modi introduced the second version of the Yearly Worldwide Culmination, ‘SemiconIndia Meeting 2023′ in Mahatma Mandir in

Gandhinagar, Gujarat.

 

SemiconIndia 2023, the 3-day program held from July 28 to 30, 2023, was coordinated by

India Semiconductor Mission in organization with industry and industry affiliations.

 

India’s semiconductor strategy and policy are on display at the event, which aims to establish India as a global centre for semiconductor design, manufacturing, and technology development. The topic of SemiconIndia 2023 is ‘Catalyzing India’s Semiconductor Environment’.

 

The Service of Hardware and Data Innovation (MietY) included 2 more semiconductor plan new businesses/o, Little and Medium Endeavors (MSMEs) in particular Aheesa

 

Advanced Developments and Calligo Advancements under its SemiconIndia future Plan DesignLinked Motivation (DLI) conspire at the SemiconIndia 2023 meeting in Gandhinagar,

Gujarat.

 

California-based Advanced Micro Devices, Inc. (AMD) has pledged to invest approximately $400 million in India over the next five years.

 

Dr Subrahmanyam Jaishankar, Outer Undertakings Clergyman (EAM) of India, held the fifteenth

 

India-Japan Unfamiliar Pastors’ Essential Discourse with Yoshimasa Hayashi, Clergyman of International Concerns of Japan in New Delhi, Delhi. They investigated expected areas of joint effort in basic also, arising advances, including semiconductors; dependable supply chains; also, and advanced public framework, among others.

3. India & Moldova Agreed to Sign MoU for Cooperation in Agriculture

 

On July 31st 2023, India and eastern European country Moldova consented to sign a

update of figuring out (MOU) for participation in the farming area during a meeting between Shobha Karandlaje, Pastor of State(MoS) for Agribusiness, and Vladimir Bolea, Appointee Prime Endlessly serve for Agribusiness and Food Enterprises of Moldova at Krishi Bhawan, New Delhi, Delhi.

 

The Ministers emphasized during the meeting that the exchange of knowledge and technology could strengthen bilateral agricultural cooperation and increase bilateral trade in agricultural commodities.

 

Vladimir Bolea communicated Moldova’s advantage in sending out vegetable oils to India and

bringing in manures and pesticides from India.

 

He likewise featured the Moldovan culture of creating wine and apples as a lifestyle and

communicated interest in sending out these items to India.

Banking and Finance

1. Non-Food Bank Credit grew to 16.3% in June 2023, for Aviation its 93.4% Hike: RBI Data

On July 31, 2023, the Save Bank of India (RBI) delivered a report ‘Sectoral Organization

of Bank Credit – June 2023′ exhibiting a Year-on-Year (Y-o-Y) development of non-food bank

credit to 16.3% in June 2023 as contrasted and 15% in June 2022.

 

Then again, the food bank credit shows a decay of – 25.4% in June 2023 as

contrasted with a decay of – 55% in June 2022

 

The Absolute Bank Credit (Food Credit + Non-food Credit) developed at 16.2% in June 2023 from 14.5% in June 2022.

 

The report states that in June 2023, gross credit deployment in the aviation sector by 40 Indian SCBs increased by a remarkable 93.4 per cent year-over-year (y-o-y) from Rs 21,733 crore in June 2022 to Rs 42,033 crore.

2. Paytm Launches 2 New Devices: Pocket Soundbox & Music Soundbox To Empower On-The-Go Merchants 

On July 31, 2023, Paytm, possessed by One97 Correspondences Ltd (OCL), presented two new state of the art installment gadgets, the Paytm Pocket Soundbox and Paytm Music

Soundbox. The addition of 4G capabilities to both devices makes them more convenient for retailers who are constantly on the go.

 

Paytm Pocket Soundbox’s Overview:

 

It is a first-of-its-kind, portable, “Made in India” device the size of a debit card that provides merchants on the go with instant audio payment alerts. The Paytm Soundbox’s features are all present in this portable device.

 

It gives a 5-day battery duration, a 4G network and light to continue to go even in low-light

conditions.

 

The traders in a hurry incorporate taxi and auto drivers, electrical experts, conveyance specialists, stopping charge gatherers and truck sellers.

 

Paytm Music Soundbox’s Overview:

 

A remarkable gadget permits dealers to play music from their cell phones by means of Bluetooth while overseeing instalment exchanges. It serves both as a speaker for instalment

notices and a Bluetooth music player.

 

It has a 10-day battery duration, a 4G network and a strong 4W speaker. An extra component called “voice overlay” empowers vendors to hear instalment warnings while music is playing.

3. Sebi asks MIIs to develop Common Online Dispute Resolution Portal

Market Infrastructure Institutions (MIIs) such as stock exchanges, depositories, and clearing corporations should establish a common Online Dispute Resolution (ODR) portal to resolve disputes involving investors, listed companies, designated intermediaries, and regulated entities, according to a circular issued by the Securities and Exchange Board of India (SEBI) on July 31, 2023.

 

The portal should be used by all market participants, including listed companies, specified intermediaries, and regulated entities.

 

Fundamental elements and functionalities will be incorporated into the ODR Gateway to work with the enlistment of financial backers and market members, the accommodation of protests, and the transferring of important records or papers connected with the question.

 

A status update feature that pulls data from the ODR institution regarding the complaint’s progress will be available on the portal.

 

Two Stages:

 

Phase 1: From August 1, 2023, to August 16, 2023

 

Improvement of the ODR Entrance, empanelment of ODR Organizations by the MIIs and empanelment of conciliators and judges by those ODR Establishments by August 1, 2023.

 

By August 15, 2023, trading members and depository participants will have completed their registration on the ODR Portal.

 

From August 16, 2023, onwards, the enrollment of grumblings against dealers and

storehouse members, as well as their goal, will start.

 

Phase 2:

 

It is suggested that the enlistment of any remaining business sector members on the ODR Gateway will be finished by September 15, 2023.

 

The enlisting of grievances against any remaining business sector members and their goal will start on September 16, 2023.

 

Question goal process:

 

The following steps have been outlined by SEBI to kick off the dispute resolution process:

 

In the principal case, the financial backer should raise their complaint straightforwardly with the market member by housing a grievance.

 

In the event that the complaint isn’t settled agreeably, the financial backer can raise it through the SCORES(SEBI Protests Change Framework) entryway.

 

Subsequent to debilitating all suitable goal choices, in the event that the financial backer’s remaining parts are disappointed, they can start questioning goals through the ODR Entryway.

 

On the other hand, the financial backer may straightforwardly decide on the ODR Entrance in the event that the complaint stopped with the market member was not set out agreeable to them or at any resulting acceleration stage.

 

Note: Through the ODR Portal, the concerned market participant can initiate dispute resolution. Be that as it may, prior to doing as such, they should furnish the financial backer with a notification time of no less than 15 scheduled days to endeavour the goal, which ought to have remained inadmissibly settled between them.

4. Karnataka Bank Hosts Fintech Growth Program in Bengaluru

The inaugural “KBL – FinOne,” or “A Fintech Growth Program,” was held in Bengaluru, Karnataka, on July 28, 2023, by Karnataka Bank Limited, a leading “A” Class Scheduled Commercial Bank in India.

 

The goal is to work together to create novel business models that will give customers a seamless banking experience and a complete product line.

 

The bank’s Managing Director (MD) and Chief Executive Officer (CEO) are Srikrishnan H.

Over thirty speakers from various fintechs spoke at the first “KBL – FinOne” on a variety of subjects, including new lending models, neo-banks, platformization, including low-code and no-code, embedded finance, card infrastructure, payment innovations, and so on.

 

Note: The occasion is facilitated in relationship with “The Fintech Meetup”