• NASSCOM is launching an ‘AI Gamechangers’ program to promote artificial intelligence (AI)-led innovation in the country.

• Microsoft is the innovation partner for the program,

• As part of the ‘AI for India’ mission, the program seeks to recognize impactful and scalable AI-based innovation in the country.

• Nasscom and Microsoft will work closely to develop and promote the AI Gamechangers program, built on a shared commitment towards accelerating the adoption of AI across key sectors.

• The program will recognize innovators for their successful AI implementation at Nasscom’s Xperience AI Summit, one of the largest AI summits in India.

• In order to boost India’s rooftop solar programme, the World Bank (WB) is planning to launch a $100-million ($1 billion) credit guarantee scheme along with the State Bank of India (SBI) and the MSME ministry.

• This scheme will enable micro, small, and medium enterprises (MSMEs) and those firms which do not meet the lending criteria of banks and other financial institutions to avail concessional debt financing for setting up rooftop solar units.

• WB credit guarantee scheme will be provided as a Green finance i.e. financing for sustainable climate.

• Green finance will be a priority theme at the 26th session of the Conference of the Parties (COP 26) to the United Nations Framework Convention on Climate Change in Glasgow later in 2021.

• In order to boost India’s rooftop solar programme, the World Bank (WB) is planning to launch a $100-million ($1 billion) credit guarantee scheme along with the State Bank of India (SBI) and the MSME ministry.

• This scheme will enable micro, small, and medium enterprises (MSMEs) and those firms which do not meet the lending criteria of banks and other financial institutions to avail concessional debt financing for setting up rooftop solar units.

• WB credit guarantee scheme will be provided as a Green finance i.e. financing for sustainable climate.

• Green finance will be a priority theme at the 26th session of the Conference of the Parties (COP 26) to the United Nations Framework Convention on Climate Change in Glasgow later in 2021.

• The Aditya Birla Health Insurance Company Limited (ABHICL), has announced India’s first initiatives of upto 100% health insurance premium returns and other products with upgrades under the new version of its Flagship product ‘Activ Health Policy’.

• With this ABHICL became the only insurance company to offer up to 100% premium returns(HealthReturnTM), offers upto 100% reload of sum insured through its upgraded Activ Health Policy.

• ‘Activ Health’ is Asia’s first plan to offer mental illness counselling coverage and Industries first to cover unlimited homeopathy telemedicine.

• The Swedish automaker Volvo announced that it will make only electric vehicles by 2030.

• The automaker phasing out the production of all cars with internal combustion engines — including hybrids.

• Volvo’s announcement follows General Motors’ pledge earlier this year to make only battery-powered vehicles by 2035.

• The Asian Development Bank (ADB) will provide ₹100 crore loan to hospital chain Medanta for healthcare services and medical equipment to fight the COVID-19 pandemic.

• The project will support the purchase of personal protective equipment, basic hygiene products, and patient care equipment such as ventilators and beds. It will also support staff training programmes on infection prevention and control.

• Union Budget has made space for easing norms around setting up of One Person Company (OPC) by reducing the residency limit of NRIs from 182 to 120 days.

• Earlier, only Indian resident citizens were allowed to form one person companies in India.

• Asset reconstruction company and an asset management company (AMC) will be used for clean up of non-performing assets in the banking sector.

• PayPal has decided to close its operation in India.

• ICICI Bank in partnership with the Greater Chennai Corporation (GCC) and Chennai Smart City Limited (CSCL) launched ‘Namma Chennai Smart Card’, a Common Payment Card System (CPCS).

• The Rupay powered co-branded, contactless prepaid card was unveiled by Tamil Nadu Chief Minister (CM) Edappadi K. Palaniswami.

• The aim of the card is to enable residents of Chennai, Tamil Nadu to make seamless payments for various services within the city.

• The new proposition is a step towards transforming Chennai into a Smart City.

• It also has made Chennai a part of the list of international cities that offer a Common Payment Card platform.