National
NTPC Wins ET HR World Future Skills Awards 2023
⇒ NTPC has received the prestigious Economic Times (ET) HR World Future Skills Awards 2023 for “Best use of AI/AR/VR in Learning and Upskilling” and “Best Advance in Creating an Extended Enterprise Learning Programme”.
- Director (HR), NTPC, Shri Dillip Kumar Patel received the awards on behalf of NTPC at a programme held in Gurugram on 13th July, 2023.
Key Points:
» These awards bear testimony to NTPC’s focus on the adoption of cutting-edge technologies such as virtual reality (VR) in Learning and Development (L&D).
- They reflect NTPC’s commitment to develop the competency level of its employees as well as outsourced workers through L&D initiatives such as iGuru which includes training based on Virtual Reality (VR).
- In addition, NTPC has also introduced several other innovative training initiatives such as GPiLearn, FutureSkills courses and Samarth modules.
» NTPC has been adopting and institutionalising progressive and best HR practices, which has been recognised by various prestigious fora at national and international levels.
Union Minister Shri Amit Shah launches ‘CRCS-Sahara Refund Portal’
⇒ Union Home Minister and Minister of Cooperation, Shri Amit Shah launched the Central Registrar of Cooperative Societies (CRCS)-Sahara Refund Portal (mocrefund.crcs.gov.in) on 18 July 2023 in New Delhi.
- This portal has been developed for submission of claims by genuine depositors of Cooperative Societies of Sahara Group – Sahara Credit Cooperative Society Limited, Saharayan Universal Multipurpose Society Limited, Hamara India Credit Cooperative Society Limited and Stars Multipurpose Cooperative Society Limited.
Key Points:
- The online Portal developed for submission of claims is user friendly, efficient and transparent. The entire process is digital.
- Necessary checks and balances have been incorporated in the Portal to ensure that only the legitimate deposits of the genuine depositors are refunded. The portal can also be accessed through Ministry of Cooperation website.
- The genuine depositors of these Societies have to submit their claims by filling online application form available on the portal and upload requisite documents. The depositors will be verified through Aadhaar card to ensure their identity. After the verification of their claims and uploaded documents by the appointed Societies, Auditors, and OSDs, the payment to the genuine depositors will be credited in their Bank account within 45 days after filing their online claims, subject to fund availability and they will be intimated the status through SMS/Portal.
- The genuine depositors of the Societies are requested to ensure that they have Aadhar linked mobile number and Bank Account along with requisite documents as proof of their claim and deposits.
Background:
The Hon’ble Supreme Court vide its order dated 29th March, 2023 had directed that Rs 5000 Crores be transferred out of the “Sahara-SEBI Refund Account”, to the Central Registrar of Cooperative Societies (CRCS) for disbursement against the legitimate dues of the genuine depositors of the Sahara Group of Cooperative Societies.
Oil 2023 (Analysis & forecast to 2028) medium-term market report
⇒ The International Energy Agency (IEA) in collaboration with Petroleum Planning and Analysis Cell (PPAC) under the aegis of Ministry of Petroleum & Natural Gas (MoP&NG) launched the Oil 2023 medium-term market report in Delhi on 17 July 2023.
- The report has been titled as IEA Oil 2023 – Supply and demand dynamics to 2028.
Commenting on India’s growth forecast on oil, Toril Bosoni, head of the oil industry and markets division at the IEA said-
“Around three-quarters of the 2022-28 increase will come from Asia, with India surpassing China as the main source of growth by 2027”.
Key Points:
- The launch report of IEA finds that growth of global oil demand is set to slow down, almost coming to a halt by 2028. This is due to hastened shift towards cleaner energy technologies for energy security concerns.
- Despite robust demand from the petchem and aviation, annual demand growth is expected to decline from 2.4 mb/d in 2023 to just 0.4 mb/d in 2028, putting a peak in demand in sight.
- In particular, the use of oil for transport is set to decline after 2026 as the expansion of electric vehicles, the growth of biofuels and improving fuel economy reduce consumption. However, some economies, notably China and India, will continue to register growth throughout the forecast.
- Alternate clean fuels like biofuels are expected to provide 10% of new liquid fuel supply growth to 2028. As per the report, biofuels production expands nearly 600 kb/d from 2022 to 2028, with Brazil, Indonesia and India combined accounting for 70% of this increase.
- IEA report has assessed that global upstream investments in oil and gas exploration, extraction and production are on course to reach their highest levels since 2015, growing 11% year-on-year to USD 528 billion in 2023.
- Oil producing countries outside the OPEC+ alliance dominate plans for increasing global supply capacity in the medium term, with an expected rise of 5.1 mb/d by 2028 led by the United States, Brazil and Guyana. Saudi Arabia, the United Arab Emirates and Iraq lead the plans for capacity building within OPEC+.
1st MCA Barge, LSAM 7 (Yard 75)
⇒ First Barge of the series LSAM 7 (Yard 75) has been delivered to Indian Navy on 18 July 2023 in presence of Cmde Iftekhar Alam, Commanding Officer, INS Tunir.
Key Points:
- Contract for construction of 08 x Missile Cum Ammunition (MCA) Barge was concluded with M/s SECON Engineering Projects Pvt Ltd, Visakhapatnam, a MSME, in consonance with “Aatmanirbhar Bharat” initiatives of the Government of India.
- The Barge has been built under the classification rules of Indian Register of Shipping (IRS) with a service life of 30 years.
- With all major/ auxiliary equipment sourced from indigenous manufacturers, the Barge is proud flag bearer of “Make in India” initiative of Ministry of Defence.
Significance:
Induction of MCA Barges will provide impetus to Operational commitments of IN by facilitating Transportation, Embarkation and Disembarkation of articles / ammunition to IN Ships both alongside jetties and at outer harbours.
International
“India – Indonesia Economic and Financial Dialogue” (EFD Dialogue)
⇒ Ms. Sri Mulyani Indrawati, Minister of Finance, Indonesia, and the Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, announced the launch of the “India – Indonesia Economic and Financial Dialogue” (EFD Dialogue) on 16 July 2023.
- The platform, unveiled during the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting, seeks to strengthen cooperation between the two nations and foster a shared understanding on global issues.
Key Points:
- The EFD Dialogue is poised to enhance collaboration on bilateral and international economic and financial matters by bringing together economic policymakers and financial regulators from both countries.
- Areas of cooperation inter-alia, include macroeconomic challenges and global economic prospects, bilateral investment relations, and cooperation in G20 and ASEAN matters. Recognising the potential of the digital economy, the two Finance Ministers also noted the potential of collaboration in the field of fintech for financial inclusion.
The Finance Ministers concluded with a shared optimism that the EFD Dialogue will not only deepen the bilateral relationship between India and Indonesia, but also contribute to the broader economic and financial stability of Southeast Asia and the world.