Sebi constitutes an expert group of FPIs to boost overseas flows

• The FPI Advisory Committee (FAC) will be chaired by former Chief Economic Adviser KV Subramanian and consists of 14 other members representing foreign banks, stock exchanges depositories and RBI.
• The FAC has been tasked with advising on issues related to investments and operations of FPIs in the financial markets, including measures to facilitate ease of doing business by FPIs in India.
• The committee will review investment avenues available for FPIs and to advise on the feasibility of new investment avenues. It will also suggest measures required to encourage FPI participation in the bond market.

Shri Piyush Goyal unveils digital version of ODOP gift catalogue

• On the occasion, Mr Goyal highlighted the ways in which the ODOP gift catalogue is a step towards realizing the potential of all districts in the country and will give global recognition to the country’s diverse indigenous products.
• He urged all the line ministries, Industry Association, and Export Promotion Councils to utilize products from the catalogue for encouragement to designs and branding.
• The Minister said that utilizing products from the catalogue will promote a brand image for local products in the international market.
• The ODOP gift catalogue includes a wide range of products like Fragrances and Oils, Indian Spirits, Home Decor products, Fabrics, and Silks and Shawls.

PARVAZ possesses tremendous potential for uplifting the economic conditions of the farmers across the Union Territory of Jammu and Kashmir.

• The scheme was launched by the Government with an aim to create market linkage support for the shipment of Agriculture and Horticulture perishables being harvested in Jammu and Kashmir through Air Cargo.
• Under the scheme, 25 per cent subsidy on freight charges is given for carrying perishable fruits harvested in Jammu and Kashmir for shipment through Air Cargo. The subsidy is provided to farmers through DBT mode.
• Jammu & Kashmir Horticultural Produce Marketing and Processing Corporation (JKHPMC), the implementing agency of the scheme is regularly creating awareness among the farmers about the significance of this scheme so that ample number of them can take benefit from it.

Scindia Inaugurates First Flight Of Akasa Air From Mumbai To Ahmedabad

• Akasa Air is the 7th schedule airline with brand name of SNV Aviation having Corporate Headquarters at Mumbai with Boeing Max - 8 aircraft.
• Akasa Air plans to be a low-cost carrier with single fleet and all economy seats.
• Akasa Air is planning to expand its activities to 72 aircrafts in next five years which will significantly enhance the domestic aviation services in India.
• Akasa Air is the first major airline to take to the skies in seven years since Tata Sons- Singapore Airline joint venture Vistara started operations in 2015. Though there have been several new regional carriers, some have shut shop, and a few others have suspended flights due to cash crunch.
• The airline is founded by billionaire Rakesh Jhunjhunwala along with aviation veterans Vinay Dube, who was the CEO of Jet Airways until it closed down in April 2019, and Aditya Ghosh, who earlier helmed IndiGo.

ITU''s Regional Standardization Forum for Asia and Oceania begins

• The theme of the Forum is “Regulatory and Policy aspects of Telecommunications/ICTs”.
• The Forum will be succeeded by four-day meeting of International Telecommunication Union-T Study Group 3 Regional Group Asia and Oceania (ITU-T SG3RG-AO) from 09th August 2022 to 12th August 2022.
• The Regional Standardization Forum is a platform for discussing standardization topics including inter alia India’s experience in various sectors of technology like Sustainable Digital Transformation and the Role of ITU Standards, Harnessing Technologies for Digital and Financial Inclusion in Emerging Markets, evolving Data Value Chain and Digital Health.
• The Forum will be succeeded by ITU-T Study Group 3 Regional Group Asia and Oceania (ITU-T SG3RG-AO) from 09th August 2022 to 12th August 2022.

Satellites launched by SSLV in ‘wrong orbit, not usable’

• SSLV-D1-EOS 02 launched from Sriharikota launch pad had placed the satellites into 356kmX76 kms elliptical orbit instead of 356 km circular orbit. Due to which the two satellites remained unstable and are no longer usable.
• The ISRO Chairman has said the launch vehicle took off majestically at the intended time from the launch pad in Sriharikota. Its propulsion stages, overall hardware, aerodynamic design and new generation electronics, the separation system used for the first time performed very well.
• However after reaching an altitude of 356 kms there was a failure of logic to identify sensor failure and go for the salvage motion. Hence the launch vehicle developed an anomaly.
• The ISRO Chairman has said that a team of experts will go deeper to find out the reason for this isolation. He emphasised that after a small correction and revalidation, SSLV-D2 will be launched very soon.

Collective effort and cooperative federalism helped India emerge from Covid pandemic: PM Modi

• The Governing Council discussed the agenda items which included crop diversification and achieving self-sufficiency in oilseeds, pulses and agri-commodities, implementation of the National Education Policy and urban governance.
• In his closing remarks, the Prime Minister said that each state should focus on promoting its 3Ts, Trade, Tourism, Technology, through every Indian Mission around the world.
• This was the first physical meeting of the Governing Council since the onset of the pandemic, with the 2021 meeting held via video conferencing.
• The meeting was attended by 23 Chief Ministers, 3 Lieutenant Governors and 2 Administrators and Union Ministers. The meeting was moderated by Defence Minister Shri Rajnath Singh.