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1. The government on Wednesday notified the liberalised Drone Rules 2021 to open up new possibilities for innovation, business and drone technologies. Several requirements and approvals have been abolished in the new rules that may make drone operations simpler for civilian drone operators.
Shares of Zen Technologies and DCM Shriram Industries are buzzing from the last two days on the back of the new drone rules news as analysts said both these companies are working in the drone business. In Friday’s early deals, Zen Tech shares were trading over 7% higher.
2. About 165,000 workers in the unorganised sector registered themselves on the e-Shram portal on the first day of its launch on Thursday.
The portal, which aims to build a comprehensive database of unorganised workers in the country, would ensure the formalisation of the workforce, industry bodies said.
After unveiling the portal, Labour and Employment Minister Bhupender Yadav said there were an estimated 380 million workers in the unorganised sector, and the platform would help provide the benefits of various central and state welfare schemes to them, particularly in times like these.
There are varying estimates of the number of unorganised workers. According to the Economic Survey (2018-19), 93 per cent of the total workforce in India is in the unorganised sector. According to an estimate, the total workforce in the country is 450 million. Ninety-three per cent of this comes to 418.5 million.
3. A company’s working capital turnover ratio can be negative when a company’s current liabilities exceed its current assets. The working capital turnover is calculated by taking a company’s net sales and dividing them by its working capital. Since net sales cannot be negative, the turnover ratio can turn negative when a company has a negative working capital.
4. The DGCA said that the operation of Boeing 737 Max planes are permitted ‘only upon satisfaction of applicable requirements for return to service’ DGCA had banned Boeing 737 MAX operations in India since March 2019. India’s air safety regulator, Directorate General of Civil Aviation (DGCA), on Thursday, said it had cleared Boeing Co’s 737 MAX aircraft to fly with immediate effect.
5. KPMG India has been appointed as the transaction adviser for strategic divestment of IDBI Bank, and the firm will assist the government in the sale for Re 1.
About 7 firms, including KPMG, had bid to act as transaction advisor for IDBI Bank strategic divestment. These were Deloitte Touche Tohmatsu India LLP, Ernst and Young LLP, ICICI Securities, JM FinancialโLtd, KPMG, RBSA Capital Advisors LLP and SBI Capital Markets.KPMG placed the lowest bid of Re 1, and was selected as the transaction adviser, said an official.
The near-zero bid could make KPMG one of the largest players in managing deals in the financial services space if IDBI Bank sale is a success, said another official.
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