India’s Aadhaar and Umang App have won awards at recently concluded 6th World Government Summit 2018 in Dubai. Umang App won in Best m-Government Service Award for Accessible Government Category and Aadhaar won in the Best Government Emerging Technologies Award. The awards were presented by Deputy Prime Minister and Minister of Interior of UAE Sheikh Saif bin Zayed Al Nahyan.
The 6th edition of World Government Summit 2018 held in Dubai, has acknowledged technology driven initiators for providing global solutions to global challenges.
India was accorded with the ‘Guest of Honour’ in between more than 140 countries, which took participation in the World Government Summit 2018.
The award for Aadhaar recognized India’s efforts of invention and innovation in field of technology and making the country completely digitalized. It was recognised as the world’s largest biometric enabled identification programme, which provides access to service, bank accounts, social services benefits, income tax, passport services by providing 1.2 billion citizens unique identification card with fingerprint, eye-print and other vital data. The initiative is managed by Unique Identification Authority of India (UIDAI), Ministry of Electronics and Information Technology.
The award acknowledged India’s efforts to provide convenient services to its citizens. Umang stands for Unified Mobile Application for New-age Governance. It provides users unified platform that combines government departments and services, facilitating transactions for citizens.
- India’s Aadhaar and Umang App have won awards at recently concluded 6th World Government Summit 2018 in Dubai. Umang App won in Best m-Government Service Award for Accessible Government Category and Aadhaar won in the Best Government Emerging Technologies Award.
- The Aadhaar Project was identified as the world’s largest biometric-enabled identification program which caters access to service income tax, passport services, bank accounts, social services benefits focused at providing 1.2 billion citizens unique identification card with fingerprint, eye-print and other vital data.
- The Umang App is a mobile application that provides users a unified platform that combines government departments and services, facilitating transactions for citizens.India’s Umang App was granted winner of the Best m-Government Service Award in the Accessible Government category.
- The World Government Summit : It is an annual event held in Dubai,UAE.It brings together leaders in government for a global dialogue about governmental process and policies with a focus on the issues of futurism, technology and innovation, as well as other topics.
India’s fifth largest private sector lender Yes Bank has listed $600 million bond issued under its maiden $1 billion MTN programme or Bond on Global Securities Market (GSM) of India INX. The bank will use proceeds from this bond to fund the bank’s IFSC Banking Unit (IBU) in Gift City and expand IBU’s rapidly growing business opportunities.
India INX is the country’s first international exchange, located at International Financial Services Centre, GIFT City in Gujarat.
The MTN (medium term note) bond:
A medium-term note (MTN) is a debt note that usually matures (is paid back) in 5–10 years, but the term may be less than one year or as long as 100 years. They can be issued on a fixed or floating coupon basis.MTNs can be issued with a fixed maturity date (noncallable) or can be issued with embedded call or put options and triggers where the notes will redeem early based on certain parameters. MTNs are most commonly issued as senior, unsecured debt of investment grade credit rated entities which have fixed rates. MTNs offer more flexibility to the issuer and investor both in terms of structure and documentation
India International Exchange (India INX):
Indai-INX is India’s first international exchange at IFSC Gujarat International Financial Tech (GIFT) City, Gandhinagar (Gujarat). It is wholly-owned subsidiary of Bombay Stock Exchange (BSE), through its global bourse. INX is one of the world’s most advanced technology platforms with a turn-around time of 4 micro seconds. India INX operates for 22 hours a day to allow international investors and Non Residents Indians to trade from anywhere across the globe.
- Yes Bank today said it has listed $600 million bond issued under its maiden $1 billion MTN programme, on Global Securities Market (GSM) of India INX.
- The listing ceremony was presided over by Gujarat Chief Minister Vijay Rupani who also inaugurated the bank’s new IFSC office in the GIFT City in the presence of J N Singh, Chief Secretary of Gujarat and Sudhir Mankad, GIFT City Chairman.
- IFSC received a major boost in the Union Budget with the proposed unified regulator and enabling tax benefits.
- The India International Exchange (INX) India International exchange will compete with other international financial centres such as Hong Kong, Singapore Dubai, London and New York.
- The bank will use the proceeds to fund the bank’s IFSC Banking Unit (IBU) in Gift City and expand IBU’s rapidly growing business opportunities.