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By admin: Sept. 5, 2024

POP Unveils India's First Multi-Brand Co-Branded Credit Card with RuPay and Yes Bank

Tags: Economy/Finance

POP, a fintech start-up founded by former Flipkart employees, has introduced India’s first multi-brand co-branded credit card, the YEB BANK POP-CLUB RuPay Credit Card. 

An Overview of the News

• YEB BANK POP-CLUB RuPay Credit Card is developed in collaboration with RuPay and Yes Bank.

• The launch took place at the Global Fintech Festival (GFF) with notable attendees including Mr. Nalin Bansal from NPCI and Mr. Amit Sinha from Yes Bank.

Features and Benefits

• Multi-Brand Integration: The card features partnerships with brands like Zomato, Blinkit, Cult, Rapido, Cleartrip, and Pharmeasy, covering categories such as e-commerce, groceries, F&B, travel, and health & fitness.

• Rewards Structure: 

  • Users can earn rewards known as POPcoins. 

  • The card offers 10% POPcoins on online transactions, 2% on offline transactions, and an additional 5% when used with POP UPI. 

  • There is no joining fee, and cardholders receive exclusive benefits worth ₹5,000.

• UPI Transactions: POP has surpassed 1 million UPI transactions and aims to leverage the RuPay network to enhance credit access on UPI.

• User Interest: The pre-launch waitlist saw 32,000 customers sign up without any marketing efforts, demonstrating strong market interest.

About POP

• Company Background: 

  • Founded in May 2023, POP is an e-commerce enabler with a fintech component. 

  • The platform has onboarded over 200 brands and aims to expand to 500 brands and 10 million customers by the end of the year.

• Recent Developments: POP secured $2.4 million in seed funding and recently launched its UPI + e-commerce app platform, allowing users to earn POPcoins on each UPI transaction.

Hyderabad Hosts Global Artificial Intelligence Summit 2024

Tags: Summits

The Global Artificial Intelligence Summit 2024 was held on September 5th and 6th at the Hyderabad International Convention Centre.

An Overview of the News

• The summit wasinaugurated by Chief Minister A. Revanth Reddy and the theme is “Making AI Work for Everyone”.

Key Participants:

• Information Technology and Industries Minister D. Sridhar Babu joined the inauguration.

• The event attracted over two thousand delegates from around the world.

Summit Highlights:

• The summit featured a central plenary and specialized sessions focusing on AI advancements, practical applications, and future opportunities.

• Activities included hackathons, lighting demonstrations, startup showcases, and panel discussions with global AI experts.

Special Announcements:

• The state government unveiled the ambitious AI City project during the summit.

• High-profile discussions included contributions from organizations such as the World Bank and WHO.

About Telangana

• It is in south-central India, on the Deccan Plateau.

• 11th largest Indian state by area.

• Formed on June 2, 2014, from Andhra Pradesh.

• Borders Maharashtra, Chhattisgarh, Karnataka, and Andhra Pradesh.

• 33 districts as of 2019.

• Capital: Hyderabad

• Governor: Jishnu Dev Varma

• Chief Minister:Revanth Reddy

• Rajya Sabha: 7 seats

• Lok Sabha: 17 seats

RBI Central Board Holds 610th Meeting in Mumbai

Tags: Economy/Finance

The 610th meeting of the Reserve Bank of India's (RBI) Central Board of Directors took place on September 4 in Mumbai. The meeting was chaired by RBI Governor Shaktikanta Das.

An Overview of the News

• Shaktikanta also assessed various areas of RBI operations, including the functioning of Local Boards and activities of select Central Office Departments.

• Deputy Governors present included Dr. Michael Debabrata Patra, M. Rajeshwar Rao, and T. Rabi Sankar.

• Other directors in attendance were Satish K. Marathe, Revathy Iyer, Prof. Sachin Chaturvedi, Venu Srinivasan, Pankaj Ramanbhai Patel, and Dr. Ravindra H. Dholakia.

• Ajay Seth, Secretary of the Department of Economic Affairs, and Nagaraju Maddirala, Secretary of the Department of Financial Services, also attended the meeting.

About RBI

• Established - 1 April 1935, Kolkata

• Founder - British Raj

• Governor - Shaktikanta Das

National Teachers' Day - 5 September 2024

Tags: Important Days

Teachers' Day is celebrated annually on September 5 in India.

An Overview of the News

• It commemorates the birth anniversary of Dr. Sarvepalli Radhakrishnan, a renowned educator and former President of India.

National Awards Ceremony

• President Draupadi Murmu presented National Awards to 82 teachers on September 5 at Vigyan Bhavan, New Delhi.

• The Department of School Education and Literacy organizes this event to honor outstanding teachers.

Purpose of the Awards

• The National Awards recognize teachers who have significantly contributed to improving school education and enriching students' lives.

• It celebrates the dedication and efforts of teachers in enhancing the quality of education.

Historical Context

• Dr. Sarvepalli Radhakrishnan was born on September 5, 1888, and was the first Vice President and second President of India.

• Since 1962, September 5 has been celebrated as Teachers' Day to honor his contributions to education.

• World Teacher's Day, recognized by UNESCO, is celebrated on October 5 each year to acknowledge teachers' contributions globally.

Sharath Kamal Becomes First Indian Ambassador of ITTF Foundation at UTT 2024

Tags: Person in news

Sharath Kamal Achanta, renowned Indian table tennis player, has been appointed as the Foundation Ambassador of the International Table Tennis Federation (ITTF) Foundation.

An Overview of the News

• Kamal is the first Indian to hold this prestigious position.

• The announcement was made during the celebration of the ITTF Foundation's TT4Health Programme at the 5th season of Ultimate Table Tennis (UTT 2024).

Event Details:

• Venue: Jawaharlal Nehru Indoor Stadium, Chennai, Tamil Nadu.

• Date: UTT 2024 is being held from 22nd August to 7th September 2024.

Recognition:

• Sharath Kamal was presented with the Foundation Ambassador t-shirt.

• The presentation was done by ITTF Governing Board Members, Princess Zeina Shaban of Jordan and Vita Dani, Chairperson of UTT.

About Sharath Kamal:

• Olympian: 5-time Olympian and 10-time Men's Singles champion at the Senior National Table Tennis Championships.

• Commonwealth Games (CWG) Achievements:

  • First Indian table tennis player to win a gold medal at the Commonwealth Games.

  • Gold medals in Men's Singles and Men's Team event at the 2006 CWG in Melbourne, Australia.

• Awards:
  

  • Arjuna Award (2004)

  • Padma Shri for Sports (2019)

  • Major Dhyan Chand Khel Ratna Award (2022)

• Other Roles:

  • Co-chair of the ITTF Athletes Commission.

  • Captaining the Chennai Lions in UTT 2024.

About ITTF:

• It is the global governing body of table tennis.

• Founded - 1926

• Headquarters - Lausanne, Switzerland.

Harvinder Singh Makes History as First Indian Archer to Win Paralympic Gold

Tags: Sports

Harvinder Singh became the first-ever Indian archer to win a Paralympic gold medal.

An Overview of the News

• Harvinder triumphed in the men’s archery individual recurve open final at Paris Paralympics 2024.

• Harvinder is the only Indian archer to win a gold at either the Paralympics or the Olympics.

Club Throw F51

• Dharambir won gold in the Men’s Club Throw F51 Final, setting a new Asian record with a throw of 34.92 meters.

• Pranav Soorma secured silver in the same event with a throw of 34.59 meters.

Shot Put

• Sachin Sarjerao Khilari claimed silver in the men’s shot put F46 category with an Asian record throw of 16.32 meters.

NOTE:- Team India is currently ranked 13th, with 5 gold, 9 silver, and 10 bronze medals.

Paris 2024: Summer Paralympics

• The 2024 Summer Paralympics, also known as the Paris 2024 Paralympic Games, is the 17th edition of the Summer Paralympic Games.

• These games are governed by the International Paralympic Committee.

• The event is being held in Paris, France, from 28 August to 8 September 2024.

• This is the first time Paris is hosting the Summer Paralympics.

• It is the second time France is hosting the Paralympic Games, with the first being the 1992 Winter Paralympics in Tignes and Albertville.