1. FSDC sub-committee's 24th meeting
- Financial Stability and Development Council (FSDC) sub-committee's 24th meeting was recently chaired by RBI governor.
- During the meeting, major developments in the economy (both global and domestic) and in financial markets were reviewed.
- Several other proposals and issues that were discussed during the meeting are briefly given below.
- Proposal to form an Inter Regulatory Technical Group on Fintech (IRTG-Fintech).
- Proposal to form a National Strategy on Financial Education (NSFE) 2020-2025.
- Functioning of credit rating agencies.
- Developments under IBC, 2016 and its status.
- FSDC and FSDC sub-committee:
- RBI governor is the chairman of Financial Stability and Development Council (FSDC) sub-committee.
- Finance Minister is the chairman of Financial Stability and Development Council (FSDC).
- Both of them have same members. Their members are RBI governor, chairmen of SEBI, IRDA, PFRDA, IBBI and secretaries of some departments and ministries.
2. Roche Pharma's new cluster strategy
- As part of its cluster strategy, Roche Pharma has mapped India as 10 clusters for focusing on differing needs of its customers.
- The company will implement its strategy in next three months. The strategy is visible in Roche Pharma's partnership with Cipla and Entero Healthcare for supplying cancer and nephrology medicines.
- Under the partnership, Cipla will supply Roche Pharma's key cancer medicines.
- Similarly, Entero Healthcare Solutions will promote and supply the company's nephrology medicines in India.
- In February 2018, Roche Pharma signed an agreement for supply of Tocilizumab (Actemra), used now for COVID-19 treatment.
3. Minerals business of Metso Oyj (Metso) to be acquired by Outotec Oyj (Outotec)
- As per the approval granted by Competition Commission of India, Outotec Oyj (Outotec) will acquire minerals business of Metso Oyj (Metso).
- The acquisition has been approved under Section 31 (1) of the Competition Act, 2002.
- As part of the acquisition plan, Outotec will get Metso Minerals, which will be demerged from Metso and shareholders of Metso will get shares in Outotec.
- Outotec and Metso are public limited liability companies registered under laws of Finland.
- Competition Commission of India:
- CCI was formed on 14 October 2003 under the Competition Commission Act,2002.
- It aims to eliminate practices that affects competition in Indian market and protect the interests of the consumers.
- Current Chairperson: Ashok Kumar Gupta
4. Qualcomm launches Qualcomm Robotics RB5 platform
- Qualcomm Technologies Inc. has launched Qualcomm Robotics RB5 platform, a new 5G, AI-powered robotics platform.
- The new platform will help in development of high-compute, low-power robots and drones.
- The platform supports both 4G and 5G connectivity speeds. It has following important components.
- Qualcomm QRB5165 processor
- 5th generation Qualcomm AI Engine, which delivers 15 Tera Operations Per Second (TOPS)
- Qualcomm Hexagon Tensor Accelerator (HTA)
- Various softwares such as Linux, Ubuntu and Robot Operating System (ROS) 2.0 are supported by the platform.
- Qualcomm Technologies Inc. is an American company headquartered in San Diego, California.
5. Rs. 11,367 crore raised by Jio Platforms
- Jio Platforms has collected Rs 11,367 crore from Public Investment Fund of Saudi Arabia.
- The investment in Jio Platforms is single largest investment made in India by PIF, a sovereign wealth fund of Saudi Arabia.
- Jio Platforms is Reliance Industries Ltd (RIL)'s subsidiary.
- In past nine months, Jio Platforms has sold stake for the 11th time.
- Since April, Jio Platforms have collected ₹1,15,693.95 crore (₹1.15 lakh crore) from Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG and L Catterton.
6. Project to make Neera and Palm jaggery started by KVIC
- Khadi and Village Industries Commission (KVIC) has started project to make Neera and Palm jaggery.
- The project to make Neera has been started in Palghar district of Maharashtra.
- It aims to promote Neera as replacement of soft drinks and provide self-employment to Adivasis.
- Khadi and Village Industries Commission (KVIC):
- It was formed in 1957 under an act of the Parliament. So, it is a statutory body.
- It is headquartered in Mumbai. It has six regional offices. Its chairperson is Vinai Kumar Saxena.
- Its purpose is development of khadi and village industries.
- It is under jurisdiction of Ministry of Micro, Small and Medium Enterprises.