G20 Guests to Feast in 'Bharat' Style

Good Morning ☕

Picture this: guests attending this week's Group of 20 summit will no longer find the word "India" gracing their event invitations. Instead, they'll be receiving an invitation to the land of "Bharat." Yes, you read that right! Modi's government has embarked on a linguistic journey to replace the colonial-era moniker "India" with the resplendent Sanskrit gem, "Bharat."

This move isn't just about a name change; it's about a whole new level of naming enthusiasm. Modi's Hindu nationalist party is on a mission to sweep away the vestiges of the past and usher in an era where "Bharat" shines as the radiant identity of the nation. It's a linguistic makeover with a side of cultural nationalism.

Important News of the Day

1. India replaces 'India' with ancient name 'Bharat' in dinner invitation to G20 guest

Indian Prime Minister Narendra Modi's government has replaced the name "India" with the Sanskrit word "Bharat" in dinner invitations sent to guests attending this week's Group of 20 summit. The move reflects Modi's Hindu nationalist party's efforts to eliminate what it sees as colonial-era names. The opposition parties in India announced a new alliance called INDIA in July, and politics over India versus Bharat has gained ground since then. Modi's government has been pushing for the use of Sanskrit, an ancient Indian language, and the move to replace "India" with "Bharat" is seen as part of this nationalist push.

2. IBM renews partnership with IISc Bengaluru, IIT Bombay to further AI and hybrid cloud research

IBM has renewed its research partnership with the Indian Institute of Technology (IIT), Bombay, and the Indian Institute of Science (IISc), Bangalore, to advance hybrid cloud and artificial intelligence (AI) research. The partnership aims to combine diverse expertise to foster innovation in the domain. IBM and IIT Bombay's partnership goes back to 2018, with the inclusion of the IBM AI Horizon Network in the Indian engineering college. In 2021, IBM and IISc Bangalore inaugurated the IBM-IISc Hybrid Cloud lab, further focusing on advancing research in hybrid cloud technologies. The lab will be housed on the IISc campus in Bengaluru for students and faculty to conduct wide-ranging tech R&D.

3. Britain bankruptcy: This UK city has declared itself bankrupt

Birmingham City Council, the largest local authority in Europe, has effectively declared itself bankrupt after being hit by a £760m bill to settle equal pay claims. The council filed a Section 114 notice on Tuesday, halting all spending except on essential services. The council’s leader John Cotton said that a new jobs model would be brought into the council to tackle the equal pay claims bill. The council blamed the UK’s ruling Conservative Party, saying Birmingham “had £1 billion of funding taken away by successive Conservative governments.” The crisis in local authorities was laid bare on Tuesday as Birmingham city council in effect declared itself bankrupt.

4. ‘One Nation, One Election’ first meeting today at ex-Prez Kovind's residence

The Indian government has formed a committee to explore the possibility of holding simultaneous elections for both state and national levels, known as "One Nation, One Election." The committee will be headed by former President Ram Nath Kovind and will include former Chief Justice of India Ranjan Gogoi and former Cabinet Secretary Pradeep Kumar Sinha. The proposal aims to save time and resources and reduce the impact of frequent elections on governance. However, critics argue that it could undermine the federal structure of India and give an advantage to the ruling party.

5. PowerSchool acquires Chennai-based Neverskip

PowerSchool, a US-based edtech company, has acquired Chennai-based Neverskip, an enterprise resource planning (ERP) software firm, for an undisclosed sum. With this acquisition, PowerSchool will immediately expand its reach to over 900 schools and 1.2 million students in India. The acquisition combines the power of Neverskip's best-in-class ERP with PowerSchool's industry-leading solutions to create a unified technology platform. PowerSchool aims to reach 2,000 schools in India in the next 2-3 years

6. 'SEBI is ready with tech to power 1-hour settlement cycles'

The Securities and Exchange Board of India (SEBI) is planning to introduce one-hour trade settlements by the end of this fiscal year, before making it instantaneous. SEBI has already adopted a roadmap towards realizing its aim of making trade settlements instantaneous. The technology already exists to launch up to one-hour settlement. SEBI Chairperson Madhabi Puri Buch said, "We just have to make it happen." The move is expected to be good news for traders.

7. Swaraj Tractors looking at mass and niche strategy for product pipeline

Swaraj Tractors, a division of the Mahindra Group, has launched a new range of tractors in the 40 to 50 HP category in India. The new range is aimed at advancing India's agricultural mechanization and addressing the evolving needs of Indian farmers. The tractors are now available at all Swaraj dealerships across India, with prices starting at INR 6.9 lakh for the base variant and going up to INR 9.95 lakh for the top-end model. To support farmers, Swaraj Tractors will also provide financing options, ensuring easy access to the latest Swaraj tractor range.

8. Nilesh Shah denies rumours of joining Jio BlackRock MF as CEO

Nilesh Shah, the Managing Director of Kotak Mahindra AMC, has denied rumors that he will join Jio BlackRock Mutual Fund as CEO. The rumors were circulating in the market for some time, but Shah has put them to rest. In an interview with The Indian Express, Shah talked about the rising markets in the wake of global inflation. Meanwhile, Birmingham City Council, the largest local authority in Europe, has effectively declared bankruptcy after being hit by a crippling bill from an equal pay claim

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