Flipkart co-founder Sachin Bansal’s Navi Technologies, a tech-driven financial products and services start-up, has received approval from the Securities and Exchange Board of India (SEBI) for its Rs 3,350 crore initial public offer (IPO).

Navi received an observation letter from Sebi on September 5. Navi Technologies offers a comprehensive suite of financial services solutions in a digital-first manner. Founded by Sachin Bansal and Ankit Agarwal in 2018, it launched the personal loan business in April 2020 and it extends instant personal loans of up to Rs 20 lakh through an entirely digital Navi App-only process.

The proposed IPO is completely through a fresh issue of equity shares. Sachin Bansal alone holds 97.39% stake in the company. The company proposes to utilise a portion of its net proceeds for investment in its subsidiaries, Navi Finserv Private Limited and Navi General Insurance Limited.

Since the company’s incorporation, it has expanded offerings under the Navi brand to include personal loans, home loans, general insurance, and mutual funds. It also offers microfinance loans through a wholly-owned subsidiary, under the Chaitanya brand.

The government is conducting a pilot project for an automatic number plate recognition system with a view to reducing traffic congestion at toll plazas and charging vehicle owners for the exact distance driven on the tolled highways, Union minister Nitin Gadkari said on Sep 12 .

Addressing an event organised by the Indo-American Chamber of Commerce (IACC), Gadkari said the government wants to develop India's public transport system on electricity.

During 2018-19, the average waiting time for vehicles at toll plazas was right minutes.

With the introduction of FASTags during 2020-21 and 2021-22, the average waiting time for vehicles has now come down to 47 seconds.

Although that is a considerable improvement in the waiting time, at certain locations, especially near cities, and densely populated towns, there are still some delays at toll plazas during peak hours.

To provide seamless and safe traffic operation, Gadkari said an Advanced Traffic Management System (ATMS) is being installed on all newly-constructed national highways and existing four-plus-lane national highways to provide seamless and safe traffic operation.

Last month, Gadkari said that the government is now looking at two options -- a satellite-based toll system where the GPS will be there in a car and the toll will be directly subtracted from the passenger's bank account and the other option is through number plates.

Newly-crowned junior world no.1 Anupama Upadhyaya and Odisha Open Super 100 champion Unnati Hooda will lead India's challenge at the BWF World Junior Badminton Championships to be held at Santander, Spain from October 17-30.

The Indian team for the prestigious tournament, to be held after a gap of two years due to the COVID-19 pandemic, was picked after a thorough selection process that included two All India Ranking tournaments and a selection trial in Raipur.

Unnati had topped the girl's singles trials with S Rakshita Sree and Anupama finishing second and third respectively. In-form Bharat Raghav, who won both the All Indian ranking titles in Goa and Panchkula and former junior world No.1 Sankar Muthusamy, will be India's best bet in the boy's singles category with Ayush Shetty completing the lineup.

India squad

Boy's singles: Bharat Raghav, Sankar Muthusamy S, Ayush Shetty.

Girl's singles: Unnati Hooda, Rakshitha Sree S, Anupama Upadhyaya.

Boy's doubles: Arsh Mohammad/Abhinav Thakur, Nicholas Nathan Raj/Tushar Suveer.

Girl's doubles: Isharani Baruah/Devika Sihag, Shreya Balaji/Srinidhi N.

Mixed doubles: Samarveer/Radhika Sharma, Vighnesh Thathineni/Sri Sai Sravya Lakkamraju.

Sri Lanka's Asia Cup winning hero Bhanuka Rajapaksha, whose stellar show with the bat played a pivotal role in his side's sensational Asia Cup victory, has dedicated the title to his crisis-hit island nation.

Sri Lanka defeated Pakistan by 23 runs in the summit clash on  Sep 11 night to clinch the Asia Cup crown after 2014, their sixth overall.

Q1. Name the foreign minister of France who visited India recently ?

1. Laurent Fabius           
2. Jean-Marc Ayrault     
3. Bernard Kouchner
4. Catherine Colonna
5. None of These

Q2. Name the Crown Prince with whom External Affairs Minister S Jaishankar met  during the last leg of his visit to Saudi Arabia ?

1. Nayef Falah Mubarak Al-Hajraf
2. Mohammad bin Salman Al Saud
3. Salman bin Abdulaziz Al Saud
4. Khalid bin Salman bin Abdulaziz Al Saud
5. None of These

Q3. Name the country in which BWF World Junior Badminton Championships to be held from October 17-30 ?

1. Denmark
2. Norway
3. Spain
4. Sweden
5. None of These

Q4. Who among the following is the winner of US Open 2022 women's singles title ?

1. Iga Świątek
2. Caty McNally
3. Barbora Krejčiková
4. Ons Jabeur
5. None of These

Q5. Name the country which is  hosting “No Money for Terror” summit  this year ?

1. US
2. UK
3. France
4. Germany
5. None of These

Answers

1--------------------------------4   Catherine Colonna

2---------------------2   Mohammad bin Salman Al Saud

3----------------------------------- 3 Spain

4-------------------------------1   Iga Świątek

5-------------------------5 None of These   Ans –India 

Prime Minister Narendra Modi on Sep 12  said the Centre and state governments are trying to contain the spread of Lumpy Skin Disease, which has led to the loss of livestock in different parts of the country.

An indigenous vaccine has been developed for Lumpy Skin Disease (LSD).

Besides this, efforts are being made to track the movement of animals to keep the outbreak under control, he added.

Modi was speaking after inaugurating the International Dairy Federation World Dairy Summit (IDF WDS) 2022, being organised at India Expo Centre & Mart.

LSD is a contagious viral disease that affects cattle and causes fever, and nodules on the skin and can also lead to death.

Thousands of cattle have died due to LSD in more than eight states including Gujarat, Rajasthan, Punjab and Haryana.

Under Pashu Aadhaar, digital identification of livestock is being done to keep track of their health which will also help in expanding the dairy sector, he added.

India is the world's largest milk producer at about 210 million tonnes annually. Modi said as compared to the 2 per cent production growth at the global level, India is clocking the milk production growth rate at more than 6 per cent.

The inaugural function was also attended by Minister of Fisheries, Animal Husbandry and Dairying Parshottam Rupala and Uttar Pradesh Chief Minister Yogi Adityanath. Minister of State for Fisheries, Animal Husbandry and Dairying Sanjeev Balyan was also present.

Government working on developing electric highways: Union Minister Nitin Gadkari

The government is working on developing electric highways, which will be powered by solar energy, that will facilitate the charging of heavy-duty trucks and buses, Union road transport and highways minister Nitin Gadkari said on sep 12 .

Addressing an event organised by the Indo-American Chamber of Commerce (IACC), Gadkari reiterated that the government wants to develop India's public transport system on electricity.

An electric highway generally refers to a road which supplies power to vehicles travelling on it, including through overhead power lines.

Gadkari said that the government is also encouraging toll plazas to be powered by solar energy.

Northern Army Commander Lieutenant General Upendra Dwivedi on  Sep 12 visited forward areas in western Ladakh and reviewed the operational preparedness of the troops.

Lt Gen Dwivedi was received by top Army officials of 14 Corps and he was briefed about the security situation in the area.

He later visited forward areas along the Batalik sub-sector and reviewed operational preparedness in the belt.

Lt Gen Dwivedi exhorted troops of the Tiger Hill bridge to remain alert and excel and emerge victorious in all scenarios.

China officially announced on  Sep 12 that President Xi Jinping will travel for the first time out of the country in over two years this week to visit Kazakhstan and attend the SCO summit being held in Uzbekistan.

Xi will attend the 22nd meeting of the Council of Heads of State of the Shanghai Cooperation Organisation (SCO) in the city of Samarkand, and pay state visits to Kazakhstan and Uzbekistan from September 14 to 16

He would first visit Kazakhstan on September 14, which will be his first visit abroad since January 17-18. Myanmar was the last country Xi visited on January 17-18, 2020.

Just days after his return, China had announced the massive outbreak of the coronavirus in Wuhan, which later spiralled into a global pandemic resulting in millions of deaths around the world.

Since then, Xi, 69, has not ventured out of China and has attended global events virtually.

The Beijing-headquartered SCO is an eight-member economic and security bloc consisting of China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, India and Pakistan.

After the Samarkand summit, where Iran was expected to formally be admitted into the SCO, India will take over the Presidency of the influential grouping of Central Asian Republics.

Prime Minister Narendra Modi and Russian President Vladimir Putin are expected to attend the SCO summit.