1. Delhi becomes world's second most populous city
i. Delhi has become the world's second most populous city in 2014 after Tokyo, more than doubling its population since 1990 to 25 million, according to a UN report.
ii. The 2014 revision of the World Urbanisation Prospects launched yesterday said that India is projected to add the highest number of people to its urban population by 2050, ahead of China.
iii. The Indian capital is expected to retain the spot of the world's second most populous city through at least 2030, when its population is expected to rise swiftly to 36 million.
iv. Tokyo topped UN's ranking of the most populous cities in 2014 with 38 million inhabitants and while its population is projected to decline, it will remain the world's largest city in 2030 with 37 million people.
v. Mumbai, which ranks sixth on the list of the world's most populous cities in 2014, is projected to become the fourth largest city in 2030 when its population would grow to 28 million from the current 21 million.
vi. Tokyo and New Delhi were followed by Shanghai with 23 million, and Mexico City, Mumbai and Sao Paulo, each with around 21 million inhabitants in 2014.
vii. The report said that the largest urban growth will take place in India, China and Nigeria between 2014 and 2050, with the three countries accounting for 37 percent of the projected growth of the world's urban population.
viii. By 2050, India is projected to add 404 million urban dwellers, way more than China's projection of 292 million.
2. World Bank commits $15-18 bn to India in next 3 years
i. The World Bank has committed 15 to 18 billion dollars to India by 2017 to help the country return to a higher growth path which is critical for boosting jobs and reducing poverty.
ii. It will step up its lending to India to 5 to 6 billion dollars annually over the next three years from the earlier commitment of 3 to 5 billion dollars a year.
iii. The World Bank President Jim Yong Kim endorsed the government's committment on reforms and said the multilateral agency will support the development initiatives with financing as well as knowledge and capacity building. He said, the new government would like to return to a growth rate of 9 percent.
3. HDFC Bank, Axis Bank raise fixed deposit rates by up to 4%
i. Faced with a tight liquidity condition, two leading private sector banks -- HDFC Bank and Axis Bank -- have raised fixed deposit rates by up to 4 per cent, a move which may be followed by others.
ii. Country's second largest private sector lender HDFC Bank has raised fixed deposit rates by 1 per cent for maturities between 15 days to 6 months one day effective July 27, as per information available on its website.
iii. The bank has increased the interest rate by 0.75 per cent for maturity buckets less than 1 year but over 6 months one day.
iv. Axis Bank has raised interest rate on term deposits with maturity between 14-29 days by 4 per cent to 8 per cent, while in case of 7-14 days the increase is by 3.5 per cent to 7.5 per cent on bulk deposits above Rs 1 crore, effective today.
4. President greets nation on Raksha Bandhan
i. President Pranab Mukherjee has greeted the nation on the occasion of Raksha Bandhan, which will be celebrated on Tuesday.
ii. "On the auspicious occasion of Raksha Bandhan, I extend my warm greetings and felicitations to all fellow citizens," the president said in a statement issued here Monday.
iii. "The festival of Raksha Bandhan symbolises the sacred bond of love, trust and commitment between sisters and brothers. It is an occasion for us to dedicate ourselves to the well-being of women and in particular, the girl child,"
iv. "May this unique festival inculcate in every member of our society the highest respect for women, as we strive collectively for the prosperity of our people," Mukherjee said.
v. On Raksha Bandhan, a sister ties a rakhi (decorative thread) on the wrist of her brother and he, in turn, gives her gifts and vows to protect her.
i. Delhi has become the world's second most populous city in 2014 after Tokyo, more than doubling its population since 1990 to 25 million, according to a UN report.
ii. The 2014 revision of the World Urbanisation Prospects launched yesterday said that India is projected to add the highest number of people to its urban population by 2050, ahead of China.
iii. The Indian capital is expected to retain the spot of the world's second most populous city through at least 2030, when its population is expected to rise swiftly to 36 million.
iv. Tokyo topped UN's ranking of the most populous cities in 2014 with 38 million inhabitants and while its population is projected to decline, it will remain the world's largest city in 2030 with 37 million people.
v. Mumbai, which ranks sixth on the list of the world's most populous cities in 2014, is projected to become the fourth largest city in 2030 when its population would grow to 28 million from the current 21 million.
vi. Tokyo and New Delhi were followed by Shanghai with 23 million, and Mexico City, Mumbai and Sao Paulo, each with around 21 million inhabitants in 2014.
vii. The report said that the largest urban growth will take place in India, China and Nigeria between 2014 and 2050, with the three countries accounting for 37 percent of the projected growth of the world's urban population.
viii. By 2050, India is projected to add 404 million urban dwellers, way more than China's projection of 292 million.
2. World Bank commits $15-18 bn to India in next 3 years
i. The World Bank has committed 15 to 18 billion dollars to India by 2017 to help the country return to a higher growth path which is critical for boosting jobs and reducing poverty.
ii. It will step up its lending to India to 5 to 6 billion dollars annually over the next three years from the earlier commitment of 3 to 5 billion dollars a year.
iii. The World Bank President Jim Yong Kim endorsed the government's committment on reforms and said the multilateral agency will support the development initiatives with financing as well as knowledge and capacity building. He said, the new government would like to return to a growth rate of 9 percent.
3. HDFC Bank, Axis Bank raise fixed deposit rates by up to 4%
i. Faced with a tight liquidity condition, two leading private sector banks -- HDFC Bank and Axis Bank -- have raised fixed deposit rates by up to 4 per cent, a move which may be followed by others.
ii. Country's second largest private sector lender HDFC Bank has raised fixed deposit rates by 1 per cent for maturities between 15 days to 6 months one day effective July 27, as per information available on its website.
iii. The bank has increased the interest rate by 0.75 per cent for maturity buckets less than 1 year but over 6 months one day.
iv. Axis Bank has raised interest rate on term deposits with maturity between 14-29 days by 4 per cent to 8 per cent, while in case of 7-14 days the increase is by 3.5 per cent to 7.5 per cent on bulk deposits above Rs 1 crore, effective today.
4. President greets nation on Raksha Bandhan
i. President Pranab Mukherjee has greeted the nation on the occasion of Raksha Bandhan, which will be celebrated on Tuesday.
ii. "On the auspicious occasion of Raksha Bandhan, I extend my warm greetings and felicitations to all fellow citizens," the president said in a statement issued here Monday.
iii. "The festival of Raksha Bandhan symbolises the sacred bond of love, trust and commitment between sisters and brothers. It is an occasion for us to dedicate ourselves to the well-being of women and in particular, the girl child,"
iv. "May this unique festival inculcate in every member of our society the highest respect for women, as we strive collectively for the prosperity of our people," Mukherjee said.
v. On Raksha Bandhan, a sister ties a rakhi (decorative thread) on the wrist of her brother and he, in turn, gives her gifts and vows to protect her.
