Government Retains Interest Rate For General Provident Fund at 8%
* The government has retained the interest rate for General Provident Fund (GPF), Contributory Provident Fund and other related schemes at 8 per cent for the first quarter of the current financial year.
* The interest rate on these funds was at 8% in January-March quarter of 2018-19 and government kept it unchanged for April to June for 2019-20. The interest rate will be applicable on provident funds of central government employees, railways and defence forces.
HDFC AMC Ranks 1st In Terms Of Assets: AMFI Report
* India’s asset management companies (AMCs) own assets under management (AUM) worth Rs24.46 trillion, according to data released by the Association of Mutual Funds in India (Amfi). HDFC Asset Management Co. Ltd has claimed the top spot with an average AUM of Rs3.42 trillion, overtaking ICICI Prudential Asset Management Co. Ltd with an average AUM of at Rs3.20 trillion. Out of the total industry assets, a huge 82.7% is owned by the top 10 AMCs, who have owned around 80% of the industry assets over at least three years now.
India, Sweden Ink Pact To Collaborate On Solutions For Smart Cities
* India and Sweden launched a joint programme that will work towards addressing a range of challenges around smart cities and clean technologies among others.
* The programme was co-funded by Indian Department of Science and Technology (DST) and Swedish agency Vinnova.
Dost Education won the Next Billion Edtech Prize
* India’s education technology startup ‘Dost Education’ has bagged a $25,000 Next Billion Edtech Prize 2019. Two other startups, Ubongo (Tanzania) and PraxiLabs (Egypt), also won the award.
* Dost Education was awarded for its ability to empower parents to take charge of their child’s early education by creating short, friendly audio content that is sent to them via their mobile phones. Because of this app low-income families need no longer send their children to primary school behind and without a chance to catch up.
PM Modi Awarded Russia’s Highest State Honour
* Prime Minister Narendra Modi was decorated with Order of St Andrew the Apostle – the highest state decoration of Russia, for exceptional services in promoting special and privileged strategic partnership between the two countries. This is the seventh international award that PM Modi has been honoured with.