October 29, 2024
Table of content
- PM inaugurates ITU World Telecommunication Standardization Assembly 2024 in New Delhi
- BharatPe has rebranded its 12% Club app to invest in the wealth management sector
- European Investment Bank Approves €300 Million Funding for Bengaluru Suburban Railway Project
- PM inaugurates ITU World Telecommunication Standardization Assembly 2024 in New Delhi:
Prime Minister Shri Narendra Modi inaugurated the International Telecommunication Union – World Telecommunication Standardization Assembly (WTSA) 2024 in New Delhi, and also inaugurated the 8th edition of India Mobile Congress, showcasing an exhibition.
Prime Minister Modi Highlights
- WTSA empowers the world through consensus, while India Mobile Congress strengthens the world through connectivity.
- India has been living through the message of Vasudhaiva Kutumbakam.
- The Prime Minister mentions the G20 Summit and the message of ‘One Earth One Family One Future’.
- Telecom is seen as a medium of equity and opportunity, bridging the gap between rich and poor.
- Shri Modi advocates for a holistic approach to Digital India, focusing on low-priced devices, extensive digital connectivity, easily accessible data, and a ‘Digital First’ goal.
- Notes a 40% share of women students in India’s STEM education and opportunities for women in technology leadership.
- Highlights the Namo Drone Didi program led by women from villages in agriculture.
- Discusses the Bank Sakhi program promoting digital banking and payments.
- Highlights the critical role of Asha and Anganwadi workers in primary healthcare, maternity, and child care.
- Runs the Mahila E-Haat program, an online marketing platform for women entrepreneurs.
Prime Minister’s Highlights on India’s Connectivity and Telecom Reforms
- India has built a robust network of mobile towers across remote tribal, hilly, and border areas.
- Rapid installation of Wi-Fi facilities at public places and connection of islands through undersea cables.
- India laid optical fiber eight times the distance between Earth and the Moon in just 10 years.
- Rapid adoption of 5G technology, making India the world’s second-largest 5G market.
- Progress is being made towards 6G technology for future-ready infrastructure.
- India’s internet data cost is as low as 12 cents per GB.
- Compared to other countries, one GB is 10-20 times more expensive.
- Average Indian consumes 30 GB of data monthly.
- Highlights Quantum technology and Circular Economy.
- Focuses on 6G, 5G use-cases.
- Highlights cloud & edge computing, IoT, semiconductors, cybersecurity, green tech.
- Includes satcom and electronics manufacturing.
About World Telecommunication Standardization Assembly (WTSA):
- Regulates ITU Standardization Sector (ITU-T), one of three world conferences of the International Telecommunication Union.
- Decides working methods for ITU-T for the next Study Period.
- Creates Telecommunication Standardization Advisory Group (TSAG) and ITU-T Study Groups.
- Elects management teams for these groups.
- Approved Recommendations shape future ICT standardization.
WTSA-24
Date: 15 October 2024-24 October 2024
Location: New Delhi, India
Participants: Member states of the international Telecommunication Union
2. BharatPe has rebranded its 12% Club app to invest in the wealth management sector:
BharatPe has rebranded its 12% Club app to Invest BharatPe, indicating a shift towards investment and wealth management.
Key Highlights:
- Introduces new investment and wealth management features, including digital gold.
- Halts new deposits for P2P lending product, allowing existing users to access investments.
- Plans to expand beyond digital gold with fixed deposits and small-ticket investment products.
- Seeks to include trading and mutual funds in the future.
- Seeks to settle disputes with cofounder Ashneer Grover, who has severed ties.
- Focuses on enhancing lending, consumer payments, and larger investment and wealth management products.
- Reports a 39% increase in operating revenue for FY 2024.
- Rebranded Invest BharatPe app available on Google Play Store.
About BharatPe :
Founded : 2018
Headquarters : New Delhi, India
CEO : Nalin Negi
3. European Investment Bank Approves €300 Million Funding for Bengaluru Suburban Railway Project:
EIB Global has granted a €300 million loan for the Bengaluru Suburban Railway .-Project, aiming to construct a new suburban railway network covering four designated corridors in Bengaluru.
EuropeAan Investment Bank Vice-President Nicola Beer and Karnataka Rail Infrastructure Development Company Ltd Director Awadhesh Mehta announced a €300 million loan for a new suburban railway network in Bengaluru, covering four dedicated corridors and extending 149 km with 58 stations and two depots.
Project Specifications:
- 149 km network with 58 stations and two depots.
- Aims to shift from road to rail to address congestion, pollution, road safety, and greenhouse gas emissions.
- Provides affordable mobility solution, improving job and educational access.
- Expected to reduce CO2 emissions by 43% once operational.
- Projected daily ridership of nearly 400,000 trips per day in 2029, expected to rise to 1.4 million by 2040.
- EIB’s €3.25 billion loans since 2016 for India’s transport sector.
- Funding includes metro projects in cities like Agra, Bengaluru, Bhopal, Kanpur, Lucknow, and Pune.
European Investment Bank Overview
Founded: 1958
Headquarter: Kirchberg, Luxembourg
President: Nadia Calviño
Owner: EU member states
- Owned by 27 member states, the largest multilateral financial institution globally.
- Finances and invests through equity and debt solutions companies and projects.
- Focuses on climate, environment, SMEs, development, cohesion, and infrastructure.
- Provided finance during crises like the 2008 financial crash and COVID-19 pandemic.
About Bengaluru Suburban Rail Project (BSRP)
149.348 km commuter rail network with 64 stations in Bangalore, Karnataka.
- Project feasibility report and final detailed project report prepared by RITES.
- Approved for construction in October 2020 with estimated cost of Rs. 15,767 crore.
- Foundation stone laid by Prime Minister Narendra Modi on June 20, 2023.
- Implemented by Rail Infrastructure Development Company (Karnataka) Limited (K-RIDE) with a deadline of 2026.
- Corridor 1 & 3 funded by Euro 500 million loan by KfW Development Bank.
Operational: 0 km | Under Construction: 8.027 km | Approved: 141.321 km
Elevated Routes: 45.392 km | At-Grade Routes: 103.856 km
