Lender State Bank of India (SBI) has unveiled a web-based digital business loans solution for MSMEs' Invoice Financing, aimed at facilitating MSME loans with a fast turn-around-time.

The solution, named "MSME Sahaj - End to End Digital Invoice Financing", has been developed that will provide solutions ranging from applying the loan, documentation and disbursement of the sanctioned loan within 15 minutes, without any manual intervention.

According to a release from the bank put out on Monday, the closure of the loan on the due date is also automated and is carried out by the system itself.

Union Minister for Coal and Mines, Shri G Kishan Reddy launched a portal “Noble Initiative for Rewarding Mains Aspirants of National Civil Services Examination (NIRMAN)” in New Delhi today. In alignment with the vision “Mission Karmayogi” of Prime Minister Narendra Modi, this is a unique CSR scheme by Coal India Limited for meritorious youth of its operating districts who have qualified the Preliminary round of UPSC examination (for Civil Services & Forest Service) in 2024. Secretary, Ministry of Coal Shri Amrit Lal Meena, other senior officers of the Coal Ministry and CMDs of Coal Companies were present on the occasion.

The scheme is aimed towards providing support of Rs 1,00,000/- (Rupees One Lakh) to the Preliminary examination qualified candidates with annual family income less than 8 lakhs and belonging to Scheduled Caste, Scheduled Tribe, female or third gender; who are permanent residents of any of the 39 operational districts of CIL.

Tata Group-run Air India said on Monday that it is setting up South Asia’s largest Flying Training Organisation (FTO) at Amravati in Maharashtra as part of an initiative by the Maharashtra Airport Development Company (MADC).

The DGCA-licensed FTO at Amravati’s Belora airport will be operational by Q1 FY26 and will target to graduate 180 commercial pilots every year, the airline said.

The Air India FTO will have 31 single-engine aircraft and 3 twin-engine aircraft for training. Air India has been awarded a tender by the MADC to establish and operate the FTO for a period of 30 years.

The Indian Army contingent departed for the 13th edition of India-Thailand joint military Exercise MAITREE being conducted from the 1st to 15th of July at Fort Vachiraprakan in Tak Province of Thailand.

The Contingent departed yesterday. Defence Ministry said that the Indian Army contingent comprising 76 personnel is being represented mainly by a Battalion of the Ladakh Scouts along with personnel from other arms and services. The Royal Thailand Army contingent also comprises 76 personnel mainly from 1st Battalion, 14 Infantry Regiment of 4 Division.

Exercise MAITREE aims to foster Military Cooperation between India and Thailand. The Ministry said the Exercise will enhance combined capabilities in executing Joint Counter Insurgency and Terrorist Operations in Jungle and Urban Environments under Chapter VII of the United Nations Charter. The Exercise will focus on high degree of physical fitness, joint planning and joint tactical drills.

The 16th edition of Joint Military Exercise 'Nomadic Elephant' between armies of India and Mongolia will be conducted in Meghalaya's Umroi from July 3-16, the Indian Army stated on Tuesday.

Additional Directorate General of Public Information, IHQ of MoD (Army) said that the exercise set to be conducted in Meghalaya aims to enhance interoperability between two armies in carrying out semi-conventional operations in semi-urban/mountainous terrain.

"Exercise #NomadicElephant The 16th edition of Joint Military Exercise #NomadicElephant between #IndianArmy & #MongolianArmy will be conducted in Umroi, #Meghalaya from 03 Jul to 16 Jul 2024. The exercise aims to enhance interoperability between both Armies in conducting semi conventional operations in semi urban/ mountainous terrain under the #UN mandate," Additional Directorate General of Public Information, IHQ of MoD (Army) posted on X.

Indian Air Force Chief Air Chief Marshal V.R. Chaudhari on Tuesday inaugurated the newly established Weapon Systems School (WSS) at Air Force Station Begumpet, Hyderabad. This follows the approval for the creation of a new Weapon System (WS) branch in 2022.

“The new branch will have four streams; flying stream to operate the weapons and systems in airborne platforms like the Sukhoi-30 MKI and C-130J; remote stream to operate remotely piloted aircraft; mission commanders and operators for Surface to Air and Surface-to-Surface weapon systems, and intelligence stream for handling space-based intelligence and imagery,” the IAF said in a statement.

Aimed at recalibrating and transforming the IAF as a future-oriented force, the formation of this new training establishment is a gigantic leap for the armed forces in general, and IAF in particular, it stated.

Ministry of Defence (MoD) has signed an MoU to establish three state-of-the-art testing facilities in Chennai under the Tamil Nadu Defence Industrial Corridor - one each in Unmanned Aerial System (UAS), Electronic Warfare (EW) and Electro Optics (EO) domains. The MoU, under the Defence Testing Infrastructure Scheme (DTIS), was exchanged between senior officials of MoD and Tamil Nadu Industrial Development Corporation Limited in the presence of Defence Secretary Shri Giridhar Aramane in New Delhi on July 02, 2024.

With an outlay of Rs 400 crore, the DTIS was launched by Raksha Mantri Shri Rajnath Singh in May 2020 to set up state-of-the-art testing facilities in collaboration with private industry and Central/State Government, promoting indigenous defence production, reducing military equipment imports and enhancing self-reliance. To provide impetus to the defence and aerospace sectors within the Defence Industrial Corridors, seven testing facilities were approved - four in Tamil Nadu and three in Uttar Pradesh. The MoU for three facilities in Tamil Nadu has been signed today.

The DTIS provides up to 75% government funding as ‘Grant-in-Aid’, with the remaining 25% funded by the Special Purpose Vehicle (SPVs), comprising Indian private entities and State/Central Governments.

Aditya-L1, India's first solar observatory mission, has finished its first halo orbit at Lagrange Point 1 in just 178 days. Launched on September 2, 2023, the Aditya-L1 spacecraft was inserted into its targeted halo orbit on January 6 this year. The orbit is about approximately 1.5 million km from Earth.

"During its travel in the halo orbit, Aditya-L1 spacecraft was be subjected to various perturbing forces that may have caused it to depart from the targeted orbit. It underwent two station-keeping maneuvers on February 22 and June 7, respectively, to maintain this orbit. Today's 3rd station-keeping maneuver has ensured that its travel continued in to the second halo orbit path around L1," ISRO said in a statement on July 2.

In previous decades, communication heavily relied on postal services, with people predominantly exchanging letters. Postal workers have long been integral to society, and each July 1, National Postal Worker Day commemorates their invaluable contributions. The occasion not only celebrates their service but also recognises the challenges they endure. Despite adverse conditions, these dedicated individuals traverse miles daily to ensure timely delivery of letters and packages, fostering connections between people and communities.

Every year on July 1, National Postal Worker Day is commemorated to recognise the contributions of all individuals within the postal service, from clerks and drivers transporting letters to distant locations, to delivery partners.

Every year, India celebrates Chartered Accountants Day (CA Day) on July 1 to mark the establishment of the Institute of Chartered Accountants of India (ICAI). This day is observed to signify the role of chartered accountants in shaping the financial and economic sectors of India.

This year, ICAI is celebrating the 76th year of its existence as it is India's one of the oldest and most respected financial and accounting organisations.

The Institutes of Chartered Accountants of India came into existence on July 1, 1949, when the parliament passed The Chartered Accountants Act, 1949 to develop the profession of Chartered Accountants. Before the establishment of ICAI, the accounting profession in the country was unregulated. The ICAI introduced a framework that governs education qualification, and professional conduct of Chartered Accountants nationwide.