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On Monday, July 22, Finance Minister <keyword id="22504403" type="General" weightage="20" keywordseo="nirmal-sitharaman" source="keywords">Nirmal Sitharaman</keyword> tabled the <keyword id="20613906" type="General" weightage="100" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> 2023-24 in the parliament ahead of the much-awaited budget 2024 tomorrow. In addition to a socio-economic stock take, the comprehensive report also outlines the strides India has made on the environment and climate fronts last year. India is in a weird grey area when the climate blame-game is concerned. We continue to average some of the lowest per capita CO2 emissions in the world. But, being the most-populous country in the world, these small bits add up to make India the third-largest emitter of CO2 in the world, after China and the United States. <div type="Article" hostid="261" msid="111923746" title="Economic Survey 2023-2024 highlights emerging job trends in AI, Cybersecurity, 3D Printing and Web Development" mstype="2" mssubtype="0"></div>However, this is not to say that the country has been sitting the green transition out either. As highlighted in the Economic Survey, India has been making notable strides in tackling climate change and promoting <keyword id="19895783" type="General" weightage="20" keywordseo="sustainability" source="keywords">sustainability</keyword> — efforts that will be crucial to protect billions in the coming years and decades. Let's take a look at these efforts and compare them with findings from other recent environmental reports to see the full picture. <h2><keyword id="21818512" type="General" weightage="20" keywordseo="emission-intensity" source="keywords">Emission intensity</keyword> reduction</h2>The economic survey proudly states that India has reduced the emission intensity of its GDP by 33% from 2005 levels by 2019. This means the country is producing less greenhouse gas for every unit of economic activity. This is a commendable achievement because India’s original climate change target — or Nationally Determined Contribution — was set to precisely 33% reduction of emission intensity by 2030, before being revised to 45% in 2022. While the jump from 33% to 45% is still a significant one with barely half a decade to go, this progress is a clear sign that India’s climate policies are having a real impact. <h2><keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">Renewable energy</keyword> capacity</h2>According to the economic survey, 45.4% of India’s installed electricity generation capacity — which includes solar, wind, and hydropower — now comes from non-fossil sources, as of May 31, 2024. <div type="Article" hostid="261" msid="111774972" title="Economic Survey shows India&amp;#39;s energy needs to grow 2.5x, healthy growth in formal employment" mstype="2" mssubtype="0"></div>As per reports by the Ministry of New &amp; Renewable Energy, India added a record renewable energy capacity of 18.48 GW in 2023-2024, with solar installations amounting to 12.78 GW, followed by 2.27 GW of wind energy. However, industry experts have also noted that India Inc. cannot afford to run out of steam now, and must continue to add at least 50 GW for the next six years to meet the target of 500 GW of renewables by 2030. <h2>Indian energy needs</h2>India's energy needs are expected to grow 2 to 2.5 times by 2047, as per the latest economic survey. This necessitates a balanced approach to <keyword id="19951336" type="General" weightage="20" keywordseo="energy-transition" source="keywords">energy transition</keyword> that considers resource limitations and the need for resilience to climate change. India has suffered from an overdependence on coal and fossil fuels in the past, accounting for around 75% of total energy generation in 2021, as per the Energy Information Administration. However, this number has been quickly falling, even dropping below a historic 50% in Q1 2024. <h2>Sovereign <keyword id="20177085" type="General" weightage="20" keywordseo="green-bonds" source="keywords">green bonds</keyword></h2>To fund green projects, India issued Rs 16,000 Crore in sovereign green bonds — financial instruments that support green projects at lower capital costs — in early 2023 and another Rs 20,000 Crore later in the year, the economic survey reports. As per the government, these proceeds were utilised in many eco-friendly projects, such as New and Renewable Energy, Environment, Forests and Climate Change, Housing and Urban Affairs, Railways. To widen the investor base, the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) also recently permitted eligible foreign investors to invest in such bonds. <h2>Mission LiFE and Green Credit Programme</h2>The survey also talks extensively about Mission LiFE (Lifestyle for Environment), which promotes sustainable living, and the Green Credit Programme (GCP), which incentivises eco-friendly actions by offering “green credits”. In the past few months, Madhya Pradesh, Telangana and a few other states have reportedly approved thousands of hectares of degraded forest land for greening exercises as part of the GCP. <h2>International initiatives</h2>India has spearheaded several international initiatives such as the International Solar Alliance (ISA), One World, One Sun, One Grid (OSOWOG), the Coalition for Disaster Resilient Infrastructure (CDRI), the Infrastructure for Resilient Island States’ (IRIS) and the Leadership Group for Industry Transition (LeadIT). Hundreds of nations are signed up for these climate coalitions and our participation will help reflect India's commitment to advancing global <keyword id="20000756" type="General" weightage="20" keywordseo="climate-action" source="keywords">climate action</keyword> and fostering international cooperation in sustainable development. <div type="Article" hostid="261" msid="111923191" title="Economic Survey 2024 – industries grow by 9.5%, fueling economic growth to 8.2%" mstype="2" mssubtype="0"></div>The report even notes that India is currently the only G20 nation who is set not to cross the 2°C warming threshold. All in all, India’s economic survey and environmental reports together show a nation making impressive progress in combating climate change and advancing sustainability. These achievements will hopefully set a strong example for other countries to follow.

On the right track — Economic Survey 2023-24 outlines India’s commendable climate action

<ul><li>The <keyword id="6354424" type="General" weightage="20" keywordseo="world-bank" source="Orion">World Bank</keyword> is inviting applications for its Bank Internship Programme, which is a part of their Summer Internship Programme 2022.</li><li>The tenure for the internship is five months, starting from May to September.</li><li>The last date to apply for the opportunity is January 31, 2022.</li></ul>The World Bank is inviting applications for its Bank Internship Programme, which is a part of their Summer Internship Programme 2022. The tenure for the internship is five months, starting from May to September in Washington, DC. The online application form is already out and the last date to apply for the opportunity is January 31, 2022. The internship is available in development operations and other business units such as human resources, communications, accounting. However, the duration and availability in any unit depends on the global institution. “The internship allows individuals to bring new perspectives, innovative ideas and research experience into the Bank's work, while improving skills in a diverse environment. In addition, it is a great way to enhance CVs with practical work experience,” says the World Bank on their official website. Eligibility criteria for the internship programme — <ol><li>Candidates must have an undergraduate degree and be enrolled in a full-time graduate study programme (PhD or master’s) with plans to return to school full-time.</li><li>There is no age limit for the programme.</li><li>Candidates should be fluent in English. However, knowledge of languages such as French, Spanish, Russian, Arabic, Portuguese, and Chinese is desirable.</li><li>Women candidates with diverse professional and academic backgrounds are encouraged to apply.</li></ol>Other important information The institution will pay an hourly salary to all interns and will provide an allowance toward travel expenses up to $3,000 at the discretion of the manager. These travel expenses can only include transport expenses (airfare) to or from the duty station city. Interns are responsible for their own accommodations. How to apply for the internship programme? <ol><li>Candidates will have to fill out an online application form <a href="https://login.worldbankgroup.org/worldbankgroupb2c.onmicrosoft.com/b2c_1_wb-bankinternship_sisu/oauth2/v2.0/authorize?client_id=d128c6ac-1d90-4a89-92f9-430cdaea9bfe&amp;redirect_uri=https%3A%2F%2Fwbgbip.worldbank.org%2Fbipform.aspx&amp;response_type=code%20id_token&amp;scope=openid%20profile%20offline_access%20https%3A%2F%2Flogin.worldbankgroup.org%2Fworldbankgroupb2c.onmicrosoft.com%2Foauth2%2Ftoken%3Fp%3DB2C_1_wb-bankinternship_SISU%2Fread%20https%3A%2F%2Flogin.worldbankgroup.org%2Fworldbankgroupb2c.onmicrosoft.com%2Foauth2%2Ftoken%3Fp%3DB2C_1_wb-bankinternship_SISU%2Fwrite&amp;state=OpenIdConnect.AuthenticationProperties%3DQ9OACpZR84EEtJZHR8rzeIOhNQGmWixsjX7EsddFkX9G1sdxvWp4DwE4ahQmQBrFYRvHFKjSSg9Gf1HYVd68pUNdZe05e-fwzDaab2fvbhcqReONyf8oVIoHE2Er5Ly3wDn1PcPNDOedPvnQd6koWNs6wdPG7xNzqqmLc1HL22NYHLyulIel1F9_YSz-bTyzENDjN1ZyFG9vpQKuZu7P_8H_V_x1bRew1Qx6vqbuJw0IWBxaGX-AwMOSCpLJsKJl&amp;response_mode=form_post&amp;nonce=637749724133656722.MTRiNzgxNmItZGM3Ni00MTE4LWIyZjMtYzc0ZDdkNjExMGM2ZGJjNWZiNzAtOTgyOS00YjYyLThkZTAtODVhMWFhODEyYmFl&amp;x-client-SKU=ID_NET461&amp;x-client-ver=5.4.0.0">here</a>. Please complete the application within 90 minutes in one single session to avoid a system timeout.</li><li>Applicants must upload these documents — Curriculum Vitae (CV) or resume, Statement of Interest, proof of enrollment in a graduate degree. Note: Each file should not exceed more than 5 MB and should be in one of the following formats: .doc, .docx, or .pdf</li><li>Once you submit your application, you will not be able to make any further changes/updates.</li><li>Upon submission of your application you will receive an email confirmation providing you with your application number.</li></ol>Shortlisted candidates will be contacted or notified by the hiring managers. Candidates should note that they will hear from the managers only when they are shortlisted. Candidates can seek more information <a href="https://www.worldbank.org/en/about/careers/programs-and-internships/internship">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/after-giving-up-on-90-minute-delivery-five-years-ago-due-to-lack-of-profitability-grofers-is-now-chasing-10-minute-delivery/articleshow/88253221.cms">After giving up on 90-minute delivery five years ago due to lack of profitability, Grofers is now chasing 10-minute delivery</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/metro-brands-ipo-gmp-and-why-analysts-say-subscribe-for-long-term/articleshow/88252982.cms">The grey market is losing interest in Metro Brands’ IPO, but the analysts are still gung ho ⁠— here’s what the data have to say</a>

Internship at the World Bank — Checkout criteria, how to apply and other details

It is widely acknowledged that the micro, small and medium enterprises (<keyword id="6358354" type="General" weightage="20" keywordseo="MSME" source="Orion">MSME</keyword>) sector has become the central nerve of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>’s economy in these past few decades. The glaring asymmetry between the MSMEs that require credit and those that receive it has also not gone unnoticed. NBFCs have become a pivotal part of the mechanism in closing this gap, by widening the reach of financial services thereby enhancing MSMEs’ resilience. NBFCs are slowly but surely gaining a foothold in the Indian financial system. They are the <a href="https://rbidocs.rbi.org.in/rdocs/Bulletin/PDFs/01AR101017F2969F6115EB4B5992BD73976F9A905D.PDF">biggest</a> receivers of funds on a net basis, even surpassing banks. The double-digit growth in credit that NBFCs accomplished while banks were facing a decline in credit as a result of asset quality stress, should be an indicator of their central role as credit providers in India’s financial system. Within the MSME lending segment, NBFCs have <a href="https://www.statista.com/statistics/1243029/india-market-share-of-lenders-for-msme/">witnessed</a> a stable 13% market share (as of 2020). NBFCs are increasingly preferred by borrowers owing to their increased ability to reach remote areas and in making quicker decisions, providing prompt services and having expertise in niche segments. According to the <keyword id="247408" type="General" weightage="80" keywordseo="world-bank-programme" source="Orion">World Bank Programme</keyword> <a href="https://www.financialexpress.com/budget/msme-eodb-budget-2022-rs-6000-crore-ramp-programme-for-msmes-to-be-rolled-out-in-five-years-says-fm-sitharaman/2422280/">appraisal</a> document for the Raising and Accelerating MSME Performance (RAMP) programme, over 40% of MSMEs lack access to formal sources of finance. As a result of lacking proper accounting systems, updated financials, and proper documentation, a large number of MSMEs borrowers are excluded from the traditional lending ecosystem. From the perspective of larger lenders, thin-file customers often require a greater degree of support and hand-holding. This combination of smaller ticket size geographical dispersion of such MSMEs makes it economically not viable to serve these markets. For India to step confidently into the future, servicing the credit needs of India's 60 million MSMEs without any access to formal credit is paramount. Digitally-led NBFCs remain key in this mission as in their case. They are expanding access to credit through credit models like the cash flow based model. This makes such NBFCs the go-to lenders for borrowers who have the means but are disqualified as per the traditional credit assessment process. There is an evolution of partnership models between NBFCs leveraging their distribution strength and superior customer underwriting with larger banks that have cheaper capital and better risk management processes. Such access to credit is further augmented by digital lenders that have built efficient and scalable outreach to credit-starved MSMEs. The data driven credit models such digital lenders use allow better risk calibration. This is demonstrated by the improving credit performance of these lenders after the Covid-induced stress. <cmsannotation type="cmsannotation" annotationid="Online NBFCs and digital SME lending: Key step towards universal credit access" comment="subhead" text="Online NBFCs and digital SME lending: Key step towards universal credit access">Online NBFCs and digital SME lending: Key step towards universal credit access</cmsannotation> Online NBFCs are taking this aim of reach and access one step ahead through tech-enabled solutions. They have widened the scope of what credit could be, and enabled the reach of credit to underserved customers across different parts of the country. Leveraging alternate data sets, innovative approaches to credit underwriting and offering customised products with a lower turn-around time have also made digital lenders more suitable in enabling access to credit to the MSME borrowers. They are displaying a new confidence in lending to small businesses through varied approaches. One such approach is ‘ecosystem-based lending’. Accessing business loans that are digitised end-to-end is logistically easier for MSMEs that are in tier 3 &amp; 4 cities and may not have the same bank branch options that bigger cities do. The ecosystem based approach to lending involves partnering with digital ecosystems such as Amazon, Google Pay, Zomato and leveraging the information about the MSMEs available with these technology platforms. The approach also allows usage of segment-specific indicators around revenue, customer ratings/reviews, and transaction business volume to arrive at a composite credit model. Thus, proprietors in small towns can seamlessly access credit that was previously available to them in only physical bank branches that are flush with liquidity but inaccessible to MSME borrowers. This access has further been enhanced through solutions like E-NACH, CKYC/OKYC, E-Sign, Video Sign. The alternate data sets digital lenders use for credit modelling sidestep the need for collateral and documentation that many MSMEs may not have. This is how an ‘ecosystem-based’ approach to lending takes accessibility one step further. There is still much distance to be covered in terms of completely closing the MSME <keyword id="7804914" type="General" weightage="20" keywordseo="Credit-gap" source="Orion">credit gap</keyword>. The onus falls on start-ups and the innovation ecosystem to create digital tools and strategies that leverage MSMEs digital footprints and ecosystems. Regardless, in terms of reaching the fringes of the financial system, NBFCS (both online and offline) are rightfully giving credit where credit is due. The author is the founder and chief executive officer (CEO) of online lending firm Indifi Technologies. Disclaimer: The opinions expressed are of the author and do not necessarily reflect the views of the Business Insider India.

OPINION: Why NBFCs remain key to closing the MSME credit gap

Finally! <a href="https://twitter.com/dandefrancesco">Dan DeFrancesco</a> in an NYC that seems to be returning to form.Fun Fact Friday: Musician and record producer Pharrell Williams is known for using a four-count beat at the start of his songs. <a href="https://www.youtube.com/watch?v=ixXNeUFdl3I">Check it out for yourself.</a>Today, we've got stories on <a href="https://www.businessinsider.com/bank-of-america-artificial-intelligence-tool-banker-assist-2023-6">an AI-powered tool that's helping Bank of America bankers prep for clients</a>, <a href="https://www.businessinsider.com/blackrock-european-lender-kreos-capital-private-credit-2023-6">BlackRock's latest deal that plays into its private-credit strategy</a>, and <a href="https://www.insider.com/guides/health/drinks-for-sore-throat">how to cure that sore throat.</a>But first, I'm gonna need more out of you.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street">sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here</a>.<a href="https://www.businessinsider.com/ken-griffin-citadel-interns-hedge-fund-programming-artificial-intelligence-chatgpt-2023-6"></a>1. No more gimmes.For as long as I can remember, the safest place on Wall Street for job security was in tech. Markets rise and fall. Deal flow comes and goes. But finance firms always want technologists. Sure, the job doesn't pay as well as a rainmaker. And you might feel a bit like a <a href="https://www.businessinsider.com/why-banks-are-losing-the-war-against-fintechs-2023-1">second-class citizen at times</a>. But there will always be a need for you. And even if you lose your job, there's bound to be another firm waiting to scoop you up. But according to one Wall Street billionaire, that sentiment won't hold true for much longer.While speaking to Citadel's newest crop of interns, Ken Griffin, the fund's founder, said <a href="https://www.businessinsider.com/ken-griffin-citadel-interns-hedge-fund-programming-artificial-intelligence-chatgpt-2023-6">the rise of generative AI has put software engineers on notice</a>. "The days of 'I'm a good programmer' are becoming numbered," Griffin told <a href="https://www.businessinsider.com/citadel-summer-internship-competition-ken-griffin-2023">the exclusive group.</a>Of course, Griffin wasn't suggesting that finance firms will no longer have a use for technologists. <a href="https://www.businessinsider.com/ken-griffin-citadel-interns-hedge-fund-programming-artificial-intelligence-chatgpt-2023-6">As Insider's Paige Hagy reports</a>, Griffin instead highlighted how programmers need to position themselves to provide the most value to companies in this post-ChatGPT world.So it's not that there is no value in understanding how to code. But it's not going to be good enough to just code. Of course, this a problem technologists created for themselves. In the before times (pre-ChatGPT), no one was really questioning the value programmers were adding. Leave it to technologists to screw themselves out of a cushy gig. <a href="https://www.businessinsider.com/ken-griffin-citadel-interns-hedge-fund-programming-artificial-intelligence-chatgpt-2023-6">Read more about how programmers can stand out despite the rise of AI, according to Ken Griffin</a>In other news:<a href="https://www.businessinsider.com/drake-beyonce-flo-rida-artist-private-concert-cost-2023-6" target="_blank" rel="noopener"></a><div type="image" title="Flo Rida and Nancy Davis at the Race to Erase MS Gala in New York" height="2155" width="2873" msid="100877289" hostid="261" sizebytes="261092"></div>2. I get by with a little help from my AI friend. Bank of America built Banker Assist — think Erica but for internal usage — to help its bankers do research on clients. <a href="https://www.businessinsider.com/bank-of-america-artificial-intelligence-tool-banker-assist-2023-6">Here's how it helps them work smarter.</a>3. BlackRock just added to its arsenal for the private-credit war. The world's largest asset manager announced plans to buy London-based Kreos Capital, a growth and venture-debt specialist. <a href="https://www.businessinsider.com/blackrock-european-lender-kreos-capital-private-credit-2023-6">More on the deal, and why there could be more to come from BlackRock.</a>4. Explaining the layoffs at Goldman. John Waldron, the bank's COO, discussed some of the biggest headwinds the firm faces as it considers making more cuts. <a href="https://www.businessinsider.com/goldman-sachs-john-waldron-explains-layoffs-2023-6">This is what he said</a>.5. How Kim Kardashian is going to take over PE. The megastar shared some details around her strategy for sussing out deals at her PE fund, SKKY Partners. <a href="https://markets.businessinsider.com/news/funds/kim-kardashian-private-equity-skky-partners-investors-million-media-consumer-2023-6?_gl=1*15alp3m*_ga*NDEwMTkzOTE2LjE2NjYxMjcyNDQ.*_ga_E21CV80ZCZ*MTY4NjI0NjQ0Mi4zOC4xLjE2ODYyNDc4MzguMTUuMC4w">Read up on her game plan.</a>6. No, generative AI can't tell you where the markets are headed. At least that's the take from Wall Street vet Marty Chavez. <a href="https://www.businessinsider.com/can-ai-predict-the-stock-market-marty-chavez-sixth-street-2023-6">And he's got a pretty cool explanation for why that's the case.</a>7. Ray Dalio is not feeling good about the direction of the economy. The Bridgewater founder said the country is at the start of a debt crisis, and it's only going to get uglier. <a href="https://markets.businessinsider.com/news/stocks/ray-dalio-us-debt-crisis-economy-recession-outlook-borrowing-ceiling-2023-6?_gl=1*100urby*_ga*NDEwMTkzOTE2LjE2NjYxMjcyNDQ.*_ga_E21CV80ZCZ*MTY4NjI0NjQ0Mi4zOC4xLjE2ODYyNDg5MTMuNTUuMC4w">More here.</a>8. All-cash homebuyers are becoming "disruptive" to the housing market. A third of all homebuyers are reportedly paying cash, the highest share in almost a decade. <a href="https://www.businessinsider.com/all-cash-homebuyers-disrupting-housing-market-2023-6">Here's why that's causing problems.</a>9. Everybody's got a price. Even the biggest stars in the world won't turn their nose up at a private party if the offer is right. <a href="https://www.businessinsider.com/drake-beyonce-flo-rida-artist-private-concert-cost-2023-6">How stars like Beyoncé and Drake are performing at everything from bar mitzvahs to birthdays.</a>10. All this smoke got your throat feeling a bit sore? These six drinks will soothe your throat and boost your immune system. <a href="https://www.insider.com/guides/health/drinks-for-sore-throat">I hope you're thirsty.</a>Curated by Dan DeFrancesco in New York. Feedback or tips? Email <a href="mailto:ddefrancesco@insider.com">ddefrancesco@insider.com</a>, tweet <a href="https://twitter.com/dandefrancesco">@dandefrancesco</a>, or <a href="https://affiliate.insider.com?h=b83e78f6bb45aba7034c3baf1ec66d1b6c1d3afa26264bdb8604d5b9f2351262&amp;postID=6482172df68b63564f67b722&amp;site=bi&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fin%2Fdan-defrancesco-29b12449%2F">connect on LinkedIn</a>. Edited by Jeffrey Cane (tweet <a href="https://twitter.com/jeffrey_cane">@jeffrey_cane</a>) in New York and Nathan Rennolds (tweet <a href="https://twitter.com/ncrennolds?lang=en">@ncrennolds</a>) in London.

The free lunch is over for Wall Street's programmers

Union Minister for Road Transport and Highways, <keyword id="26680" type="General" weightage="50" keywordseo="nitin-gadkari" source="Orion">Nitin Gadkari</keyword> on Tuesday launched <keyword id="3367686" type="General" weightage="100" keywordseo="bharat-ncap" source="Orion">Bharat NCAP</keyword>, India's own crash testing safety programme, saying that it was a historic day for the country and that requests have been received for crash testing of 30 models. Addressing a gathering following the launching of Bharat NCAP, <keyword id="6361025" type="General" weightage="80" keywordseo="gadkari" source="Orion">Gadkari</keyword> said: "Today is a very important day in the history of Indian automobile industry but even also it is important for the society. I really appreciate the way in which the Indian automobile industry cooperates and because of their cooperation today it is a time for all of us that we are launching the Bharat NCAP programme." Regarding the programme, the Minister said: "It was a mission of the government. Cost of testing from abroad is Rs 2.5 crore and in India under the Bharat NCAP it is Rs 60 lakhs. And with global standards your market is going to increase. I am really happy that it is helpful for the consumers. By the star rating people can understand the quality of the product and now we are going to create awareness in the mind of the people." He also said that there is a huge demand for higher star rating vehicles. "People are cautious about safety, pollution. People want to use different type of fuel. If anywhere there is a new alternative available then they are ready to use," he said. "Today we have got a request to test and certify 30 models from several manufacturers. We have received 30 vehicles for the rating under Bharat NCAP and I am happy with the response." Gadkari also highlighted that India is facing two important challenges -- one is road accidents and another is air pollution, and "in some way our Ministry is responsible for that". He said that every year 5 lakh accidents and 1.5 lakh deaths takes place in India. "Every day 1,100 accidents and 400 deaths and every hour 47 accidents and 18 deaths. 70 per cent death is of 18 to 34 years and loss of GDP is 3.14 per cent." He also said head on collisions killed 27,000 people, while 18,000 died due to side collisions. Emphasising on saving lives, Gadkari said that "this is the time we have highest priority for how we can save the lives of the people and road safety is the most important thing for that". "But it is not that only the automobile industry is responsible, somewhere road engineering is a big problem." The Minister further said that at the same time the other important factor is automobile engineering. But these are the things we need to improve. He also said that now the market is not only cost-centric but quality centric. "Now the most important thing which I feel is that the market, the market is not cost centric, but it quality centric. The automotive market in India has been changing lately with consumer's focus shifting from being cost-centric to quality-centric," he said. He also said that "our dream is to make Indian Automobile industry above Rs 15 lakh crore". "When I had taken charge as the Minister, our industry in the world was at number seven. Now just two to three months before we have surpassed Japan and now are at number three. First is China and second is US." Gadkari also said that many of the Indian brands of two wheelers are already exporting 50 per cent of their production and there is also a lot of technologically changes particularly in the form of using different type of fuels. "I am very sure about it that as far as cost is concerned we are very very competitive in the world and in the quality point of view if you are equal to that anywhere whatever the cost maybe in US even I am confident that a day will come that we will be equally reasonable with China also and day will come that people will prefer cost wise and quality wise that they will prefer our vehicle first," he said, adding that for that reason there is huge potential available for the export. "The dream of Prime Minister (<keyword id="6354477" type="General" weightage="50" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>) to make India a 5 trillion economy is the basic backbone of the automobile industry, which is one of the largest employers, biggest export and biggest tax payer sector for the government. This industry is giving maximum GST to the state and the Central government. He also asserted that the mission is to make India number one in manufacturing hub in the world." SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/how-to-find-unclaimed-bank-deposits-using-udgam-portal/articleshow/102830161.cms">Have unclaimed bank deposits? Here’s how to find it using UDGAM portal</a> <a href="https://www.businessinsider.in/tech/news/indian-pc-market-declines-for-fourth-consecutive-quarter-reports-15-decline/articleshow/102822733.cms">Indian PC market declines for fourth consecutive quarter, reports 15% decline</a> <a href="https://www.businessinsider.in/tech/apps/news/gboard-checkout-upcoming-features-of-google-app/articleshow/102649444.cms">Gboard to onboard AI for stickers, proofreading and more</a>

Nitin Gadkari launches Bharat NCAP, India's car crash test programme

<ul><li>IFC, which is a part of the <keyword id="93417" type="General" weightage="20" keywordseo="world-bank-group" source="Orion">World Bank Group</keyword>, is looking for interns in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> for its Global Internship Program.</li><li>The window for online application will close on Monday, March 7.</li><li>The internship programme will be of four months duration.</li></ul>The <keyword id="166412" type="General" weightage="20" keywordseo="International-Finance-Corporation" source="Orion">International Finance Corporation</keyword> (IFC), which is a part of the World Bank Group, is inviting applications for their internship programme named ‘Global Internship Program (GIP)’ for the New Delhi office. However, candidates can work remotely as well. The online application has already begun and the last date to apply for the opportunity is Monday, March 7. The duration of the internship programme is at least four months, which is expected to start in May this year.<table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Eligibility criteria for the roles — <ol><li>Candidates must be currently enrolled in a masters’ degree level programme with expected graduation date after December 1, 2022 in order to be eligible.</li><li>For Research Climate Finance: Candidates must be from these disciplines — Economics, Climate, Sustainable Finance, or other relevant discipline.</li><li>For India Climate Intern: Candidates must be from these disciplines — Business Administration (MBA), Engineering, or other relevant discipline.</li><li>For India Country Strategy: Candidates must be from these disciplines — Business Administration (MBA), Finance, or Economics, preferably.</li><li>Candidates must have at least 3 years of relevant work experience. </li><li>Candidates must have Indian citizenship or Overseas Citizenship of India (OCI) card.</li></ol>Duties and responsibilities — <ol><li>For Research Climate Finance: Support the Financial Institutions Group (FIG) Advisory team in undertaking market research (secondary) and preparing capacity building/training modules (in the form of structured powerpoint presentations) aimed at middle level and frontline staff of Indian financial institutions to build their knowledge and awareness about various aspects of climate finance. Join the discussions and support the FIG Advisory Team in its other climate/green projects in India.</li><li>For India Climate Intern: Interns will get an opportunity to work on joint initiatives like Country Climate Development Report and conceptualise one transformational project which could unlock climate business opportunity for IFC in the region. Assist team members on strategy, finalising presentation. Identify transformational projects in consultation with team members and presenting the outcome at the end of Internship.</li><li>For India Country Strategy: Support proposals for new investment projects and financial products with corporate conglomerates.</li></ol>Interested candidates are expected to submit their resume and cover letter stating their motivation/reason to apply and how their skills and expertise relate to the internship requirements. Selected candidates will be contacted directly by departments for interviews between Monday, March 21 to Friday, April 29. Selected interns will be offered a competitive salary and a limited medical insurance coverage for the duration of the internship. Interested candidates can seek more information and apply <a href="https://www.ifc.org/wps/wcm/connect/careers_ext_content/ifc_external_corporate_site/ifc+careers/recruitment+programs/global+internship+program">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/apple-google-and-microsoft-are-hiring-freshers-checkout-eligibility-and-other-details/articleshow/89720898.cms">Apple, Google and Microsoft are hiring freshers — Checkout eligibility and other details</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/indian-freelancers-are-earning-more-than-their-counterparts-in-other-countries/slidelist/89728039.cms">Indian freelancers are earning more than their counterparts in other countries</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/looking-to-freelance-here-are-the-highest-paying-fields-globally/slidelist/89727484.cms">Looking to freelance? Here are the highest paying fields globally</a>

World Bank Group is hiring 60 plus interns including in India — Checkout eligibility, last date and other details

The <keyword id="499463" type="General" weightage="20" keywordseo="Union-Ministry-of-Road-Transport-and-Highways" source="Orion">Union Ministry of Road Transport and Highways</keyword> (<keyword id="375113" type="General" weightage="20" keywordseo="morth" source="Orion">MoRTH</keyword>) is all set to roll out a new ₹7,270 crore <keyword id="12179033" type="General" weightage="20" keywordseo="State-Support-Programme" source="Orion">State Support Programme</keyword> for Strengthening <keyword id="87280" type="General" weightage="20" keywordseo="Road-Safety" source="Orion">Road Safety</keyword> to help realise the vision of 'Zero road fatalities on Indian roads.' The centrally-sponsored six-year programme will be implemented in 14 states that are now contributing to 85 per cent of the total road fatalities in the country. While MoRTH will lend a budgetary support of Rs 3,635 crore, an amount of Rs 1,818 crore will be secured as loan each from the World Bank and the <keyword id="50190" type="General" weightage="20" keywordseo="Asian-Development-Bank" source="Orion">Asian Development Bank</keyword>. Of the total cost, Rs 6,725 crore will be disbursed to the 14 states based on their performance while MoRTH will use Rs 545 crore for capacity building activities. The scheme will incentivise state governments to drive road safety interventions at the grassroots level with the main objective of curbing road accidents and achieving a reduction in fatalities, the MoRTH said in a concept note circulated to the target states. The target states under the scheme are Uttar Pradesh, Maharashtra, Madhya Pradesh, Karnataka, Rajasthan, Tamil Nadu, Andhra Pradesh, Gujarat, Bihar, Telangana, West Bengal, Odisha, Haryana and Assam. "This is an output and outcome-driven scheme wherein the performance of the states will be assessed on 11 mandatory and three elective indicators (road safety interventions). The grants will be distributed to the states based on the Key Performance Indicators," top official sources told PTI. The preliminary project report prepared by MoRTH says the Motor Vehicle Amendment Act (2019) was brought in as an important intervention to achieve the fatality reduction target. "To leverage the strengthened law, it is necessary to have focused interventions in the related areas of road safety like road engineering, enforcement, road safety advocacy and media campaigns and efficient emergency response systems. The states need to be supported to act on result-oriented strategies. Hence the new scheme," the sources said. India reported about 1.51 lakh road deaths in 4.49 lakh accidents in the year 2019. Of the total deaths, the 14 identified states accounted for 1,27,379. The number of fatalities remained consistent over the last five years. In 2020, 1.32 lakh road deaths were recorded across the country, with the Covid-19-induced lockdown resulting in the reduction in number. The new scheme targets to reduce the fatality rate by 30 per cent by March 2027. Cyclists, two and three-wheeler riders and pedestrians have been identified as 'vulnerable road users' who comprised about 54 per cent of road traffic deaths in India. Under the new scheme, performance-based indicators have been proposed with the aim of reducing the impact of road accidents on these vulnerable users. An Integrated Road Accident Database (IRAD) will be rolled out in all states by 2022-23 and applied for identifying and rectifying all black spots on state highways and major district roads. Road safety audit will be made mandatory on state highways and urban roads by the end of the scheme period. From 2022-23, MoRTH will launch a 'Challenge Round' every year to provide incentives to states on additional road safety interventions and also to promote competition among states. "The grant of Rs 7,270 crore will only meet partial fund requirement for the scheme. States are expected to make their own budgetary allocations and also implement projects in Public-Private Partnership mode," MoRTH told the states. Independent Verification Agencies will scrutinise the states' achievements, based on which the Central grant will be released. Some of the other major interventions mooted under the scheme are: Installation of speed management devices on urban roads in cities with a population of over four lakh, state highways and national highways for increased enforcement, a unique number for reporting accidents, development of dedicated lanes for two-wheelers on state highways and urban roads and identification of priority corridors. State Education Boards will be required to introduce a chapter on road safety for classes 6-9 in 2022-23 and up to class-12 the next year on. Deployment of Advance Traffic Management System, campaigns on vehicle safety and driver training, establishment of a Command and Control (Data) Centre for ambulances, establishment of automated vehicle fitness centres are some of the other initiatives planned under the scheme. SEE ALSO: <a href="https://www.businessinsider.in/india/news/highlights-of-prime-minister-narendra-modis-speech-at-the-unga-today/articleshow/86510462.cms">Indian Prime Minister Narendra Modi makes his points on China, Afghanistan and Pakistan at the United Nations General Assembly</a> <a href="https://www.businessinsider.in/thelife/personalities/freshworks-ceo-girish-mathrubootham-shares-someone-said-i-will-be-nothing-but-a-rickshaw-puller/articleshow/86507840.cms">WATCH: "Someone said I am good enough to be a rickshaw puller," shares Freshworks CEO Girish Mathrubootham in a candid chat</a>

Union Ministry of Road Transport and Highways to roll out ₹7,270 crore support programme for 14 states

As of March 2021, <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>’s total lending market size stood at ₹156.9 lakh crore, recording around 100% growth between FY2017 and FY2021. Retail and commercial lending each contribute 49% to total lending in India while microfinance contributes about 2%. Over the recent years, there have been commendable focussed policy initiatives such as <keyword id="6392137" type="General" weightage="50" keywordseo="jan-dhan-yojana" source="Orion">Jan Dhan Yojana</keyword>, <keyword id="3060238" type="General" weightage="80" keywordseo="mudra-yojana" source="Orion">Mudra Yojana</keyword> and <keyword id="13518253" type="General" weightage="50" keywordseo="national-strategy-for-financial-inclusion" source="Orion">National Strategy for Financial Inclusion</keyword> (2019-2024), however, India has a long way to go in terms of financial inclusion. Availability of formal credit to low-income populations is a big challenge and rural areas are underserved. According to the <keyword id="6354424" type="General" weightage="50" keywordseo="world-bank" source="Orion">World Bank</keyword>’s Global Findex Database 2017, only 8% of the Indian population borrowed money through a formal channel like financial institutions. <keyword id="6355185" type="General" weightage="50" keywordseo="rural-india" source="Orion">Rural India</keyword> accounts for about half of GDP, but only about 9% of total credit and 11% of total deposits. While flow of credit at the bottom of the pyramid has improved over the last decade, there is a huge missing middle segment. MFIs (microfinance institutions) have been significant credit providers to micro-enterprises and individuals through JLGs (joint lending groups). MFI segment with average ticket size of less than ₹40,000 has been reasonably serviced by over 200 institutions with outstanding credit of ₹2.5 lakh crore as at March 2021 and growing at 23.8% CAGR (compounded annual growth rate) during FY17-21. Under the Mudra Yojana, the programme aimed at funding the unfunded micro enterprises and small businesses with loans up to ₹10 lakh, ₹15.52 lakh crore were disbursed to 29.55 crore loan accounts during its 6 years of its operations (FY16-FY21), however, average ticket size was still low at ₹52,500 in this period. Micro enterprises with higher credit need of ₹1-5 lakh is a severely underserved segment with only a handful of focussed players. Compared to MFI outstanding credit of ₹2.5 lakh crore, in loans of ₹50,000-10 lakh, which is a much larger market, outstanding credit stands at just ₹1 lakh crore. Micro enterprises faced a huge credit gap of ₹8 lakh crore in 2018 as per IFC. Key issues restricting the flow of credit to this segment include the lack of documents such as income tax returns (ITR), goods and services tax (GST) and adequate banking records. As a result, issues related to income assessment have emerged as major supply-side barriers. Pure Fintech model is not suitable since the above data points are lacking and borrowers need hand-holding in disbursements as well as collections as many upgrade from JLG borrowings. Nonetheless, the emergence of a handful of new age non-banking financial companies (NBFCs) is changing the lending landscape by introducing a model that captures the best of fintech and conventional credit features, transforming the protocols of lending for micro-enterprises and individual business loan requirements. Unlike legacy banks, new age NBFCs are analysing alternative data for income assessment, applying technology more effectively and have an agile and on-ground workforce. For micro-enterprises seeking business loans, lack of collateral is no longer a major constraint and a good credit score or credit history is good enough. Considering their more suitable lending norms for this segment, new-age NBFCs are gaining popularity when it comes to small ticket business loans. Besides, NBFCs approve loans far more quickly than banks and the entire end-to-end process from application to disbursal can be completed within a few days. Players in this space with less than 1% GNPA (gross non-performing asset) even after three COVID-19 waves have proven that backed by a strong underwriting, efficient collection model and leveraging technology, lending to this segment is scalable with a significant impact on growth in income of micro-entrepreneurs. Given the lakh of micro and small enterprises across India that fall outside the purview of formal financial systems, including self-employed individuals who remain ineligible for formal credit, new age NBFCs are playing a pivotal role in promoting the goal of inclusive development. Undoubtedly, such digital lending players can serve millions of unbanked sections across India, influencing their lives positively. The author is cofounder and co-chief executive officer of Moneyboxx, an NBFC. Disclaimer: The opinions expressed are those of the author and do not necessarily reflect the views of Business Insider India.

OPINION: How new age NBFCs are changing the small ticket business loan landscape in India

<ul class="summary-list"><li>The <keyword id="6355833" type="ORGANIZATION" weightage="60" keywordseo="united-nations">United Nations</keyword> said <keyword id="6357624" type="UNKNOWN" weightage="60" keywordseo="blockchain-technology">blockchain technology</keyword> could help combat the climate crisis.</li><li>"One of the most useful aspects of cryptocurrencies, as far as the <keyword id="6355835" type="ORGANIZATION" weightage="60" keywordseo="un">UN</keyword> is concerned, is transparency," the organization said. </li><li>This could help identify incomplete or unreliable emissions data reported by some countries. </li></ul>The United Nations said the <a href="https://www.businessinsider.com/blockchain-technology-applications-use-cases">blockchain technology</a> that powers virtual currencies could help fight the climate crisis while also making the global economy more sustainable. "One of the most useful aspects of cryptocurrencies, as far as the UN is concerned, is transparency," the <a href="https://news.un.org/en/story/2021/06/1094362">organization</a> said. UN experts said <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-57c13927-7fff-b0c9-3187-648cc352fa97">blockchain</a> technology is resistant to tampering and fraud, and can provide a trusted and transparent record of transactions. This would be helpful in identifying inaccurate or incomplete emissions data. "This is particularly important in regions with weak institutions and high levels of corruption," the UN added. The organization cited how data on harmful greenhouse gas emissions in many countries is unreliable. The potential of blockchain in protecting the environment has been tested in a number of other projects, the UN said, from tools to eliminate illegal fishing in the tuna industry to a platform that turns reductions in greenhouse gas emissions into a <keyword id="6357017" type="DEFINITION" weightage="60" keywordseo="cryptocurrency">cryptocurrency</keyword> that can be bought and sold. The UN said <a href="https://wazirx.com/signup?invite=2kpah6gr&amp;utm_source=business-insider&amp;utm_medium=referral&amp;utm_campaign=microsite" id="docs-internal-guid-57c13927-7fff-b0c9-3187-648cc352fa97">blockchain</a> could also help accelerate the adoption of renewable energy sources such as wind and solar. However, the organization acknowledged the environmental consequences of cryptocurrencies, pointing to the contentious process of mining, which consumes more energy than some whole countries. It also cited the technical and political challenges cryptocurrencies still need to overcome. Still, the UN said it is confident all these will "eventually be ironed out." The optimism stems from significant steps the organization has made with blockchain technology. One of those is with the <keyword id="49053" type="ORGANIZATION" weightage="60" keywordseo="World-Food-Programme">World Food Programme</keyword>, the largest UN agency delivering cash, which has found that blockchain can help ensure that cash is delivered to people who need it without the need to go through local banks. The project, Building Blocks, has had a <a href="https://innovation.wfp.org/project/building-blocks">pilot program in Pakistan</a> and has also been successfully tested at refugee camps in Jordan. "If this can work for refugees, it can also work for other disadvantaged, vulnerable groups," the UN said. <a href="https://forum.businessinsider.in/">For a more in-depth discussion, come on over to Business Insider Cryptosphere</a> — a forum where users can deep dive into all things <keyword id="2721952" type="PERSON" weightage="60" keywordseo="crypto">crypto</keyword>, engage in interesting discussions and stay ahead of the curve. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/trading-on-crypto-exchanges-based-outside-of-india-may-get-more-expensive/articleshow/83747213.cms">India is reportedly mulling over a new crypto tax which could make trading on foreign exchanges more expensive</a> <a href="https://www.businessinsider.in/cryptocurrency/news/indian-crypto-exchanges-are-eyeing-more-industry-bodies-to-expand-influence/articleshow/83742929.cms">There’s a new Indian crypto lobby in the making and Zebpay has confirmed its participation</a> <a href="https://www.businessinsider.in/cryptocurrency/news/investments-in-crypto-hit-17-billion-in-the-first-six-months-of-2021/articleshow/83740327.cms">Investments in crypto hit a new record of $17 billion, but Indian funds are yet to jump on the bandwagon</a>

Cryptocurrencies and blockchain technology could help fight the climate crisis and make the global economy more sustainable, UN report says

The World Health Organisation (WHO) has said that future coronavirus waves are expected and that governments across the world need to remain vigilant and ready to respond to any threat that may emerge. "We have never been in a better position to end the pandemic," WHO Director General <keyword id="3685849" type="General" weightage="80" keywordseo="tedros-adhanom-ghebreyesus" source="Orion">Tedros Adhanom Ghebreyesus</keyword> said at a press briefing in Geneva on Wednesday. According to the WHO, during the week of September 5-11, the number of new weekly cases worldwide decreased by 28 per cent over the previous week to more than 3.1 million. The number of new weekly deaths was down 22 per cent to just under 11,000. Tedros likened the pandemic response to a marathon race. "Now is the time to run harder and make sure we cross the line and reap the rewards of all our hard work." Nevertheless, the WHO's experts continue to urge caution, Xinhua news agency reported. The virus is "circulating at a very intense level around the world at the present time. And, in fact, the number of cases that are being reported to the WHO we know are an underestimate," <keyword id="5856524" type="General" weightage="80" keywordseo="maria-van-kerkhove" source="Orion">Maria Van Kerkhove</keyword>, technical lead of the WHO's Health Emergencies Programme, said. "We feel there are far more cases that are actually circulating than are being reported to us," she added. "We expect there to be future waves of infection, potentially at different time points throughout the world, caused by different subvariants of Omicron or even different variants of concern," she noted. Those future waves of infection "do not need to translate into future waves of death, because we have tools that can prevent infections," she said. Even as the pandemic wanes, people should maintain high levels of vigilance, said <keyword id="32505" type="General" weightage="80" keywordseo="mike-ryan" source="Orion">Mike Ryan</keyword>, executive director of the WHO's Health Emergencies Programme. The world is fighting "a highly mutable evolving virus that has shown us, time and time again in two-and-a-half years, how it can adapt and how it can change," <keyword id="7076" type="General" weightage="80" keywordseo="ryan" source="Orion">Ryan</keyword> added. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tamilnad-mercantile-bank-lists-at-510-lower-than-grey-market-estimates/articleshow/94213399.cms">Tamilnad Mercantile Bank lists at ₹510, lower than grey market estimates</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-trade-deficit-widens-139-to-27-98-bn-in-august/articleshow/94213410.cms">India's trade deficit widens 139% to $27.98 bn in August</a>

WHO warns future waves of Covid-19 infection as deaths drop

As coronavirus cases continue to surge in India, restricting several economic activities, the <keyword id="6354424" type="DEFINITION" weightage="20" keywordseo="world-bank">World Bank</keyword> may project a steeper contraction of the Indian economy for the current financial year, revised from the previous estimate of 3.2 per cent. In its report 'India Development Update' for July 2020, the World Bank said that amid rapidly evolving conditions, projections made in May are likely to be revised as new information is incorporated, especially as the daily number of cases continues to increase resulting in several states and districts re-imposing lockdowns, and available high frequency indicators show that the economy has not yet reverted to baseline. In May, the World Bank had projected the Indian economy to contract by 3.2 per cent in FY 2020-21, and predicted rebound slowly in the next fiscal. In its report released on Wednesday, the World Bank said that in the current, rapidly evolving context these projections are likely to be revised as new information is incorporated. "In our revised projections, which would be available in October 2020, we would likely project a steeper contraction in the economy," it said. It noted that although a rebound is expected in FY 2021-22, it will take place "very slowly, reflecting the impact of the crisis not only on India's current growth but also on potential output, which is expected to return to trend only over the next several quarters". Junaid Ahmad, World Bank Country Director in India, said: "While the government of India, with the support of the Reserve Bank of India, is continuing to take action to limit the impact of the COVID-19 pandemic, there is a recognition of both the uncertainty of the nature of the economic revival globally and the emergence of opportunities opened by the current crisis." He noted that the countries that invest in sectoral reforms -- infrastructure, labour and land, human capital -- and ensure that their national systems are connected to the global value chains, are more able to respond to uncertainties and are better placed to take advantage of any global shifts. "Investing in these areas will give India the ability to navigate these uncertainties and be more competitive as the world emerges from the pandemic," Ahmad said. On the government disinvestment plans, the World Bank report said that given unprecedented financial market volatility, planned disinvestment is expected to proceed more slowly in the near-term. As a result, the fiscal deficit and debt of the central government are likely to increase sharply over the next two years, it said. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/difference-between-narendra-modi-make-in-india-and-atma-nirbhar-and-why-the-latter-may-work-better/articleshow/77629449.cms">The difference between Narendra Modi’s ‘Make In India’ and ‘Atma Nirbhar’ programmes⁠— and why the latter may work better</a> <a href="https://www.businessinsider.in/business/ecommerce/news/walmart-ceo-defends-flipkart-valuation-says-learnings-from-india-helped-double-their-e-commerce-sales/articleshow/77626799.cms">Walmart CEO defends Flipkart's valuation, says learnings from India helped double their e-commerce sales</a> <a href="https://www.businessinsider.in/science/news/who-we-are-nowhere-close-to-having-the-herd-immunity-needed-to-stop-the-coronavirus/articleshow/77621705.cms">WHO: 'We are nowhere close' to having the herd immunity needed to stop the coronavirus</a>

World Bank's 'likely' to project steeper contraction in the Indian economy than before

<ul class="summary-list"><li>Afghan staff at the World Food Programme say they are committed to helping out vulnerable groups.</li><li>The organization estimates at least half of <keyword id="11892774" type="UNKNOWN" weightage="60" keywordseo="afghanistan" source="Orion">Afghanistan</keyword>'s population is food insecure. </li><li>With dwindling supplies, it needs $200 million in funding from the <keyword id="6356001" type="UNKNOWN" weightage="60" keywordseo="international" source="Orion">international</keyword> community.</li></ul>Many of the Afghan staff at the World Food Programme weren't alive during the last <keyword id="11892778" type="UNKNOWN" weightage="60" keywordseo="taliban" source="Orion">Taliban</keyword> rule and had only heard stories about the brutally oppressive regime. That changed with the blitz-style Taliban takeover of <a href="https://www.businessinsider.com/taliban-victory-in-afghanistan-interim-government-planned-reports-2021-8">Afghanistan</a> just two weeks ago, according to Andrew Patterson, the WFP's deputy director in the country. As anxiety and unease settles among staff, Patterson says the organization is certain of one thing: They'll continue to serve the vulnerable people of a country shaped by decades of terror and heartbreak."Our staff feel great pride in being able to help their own countrymen and women, girls, children, other marginalized communities," Patterson told Insider in a video interview from <keyword id="11892912" type="UNKNOWN" weightage="60" keywordseo="kabul" source="Orion">Kabul</keyword>. "They really want to be able to stay and deliver."Patterson said that it hasn't been easy to quell staffers' fears. "We ourselves don't know what the future is for Afghanistan and its people," Patterson said. "What we do tell them is that we're staying here with them. Myself, my country director, our security staff, our program staff. As many as we were allowed to keep in country, we're keeping in country. And we don't want to leave, we don't want to abandon our people. And the Afghan people need us." The Taliban's sweep to power has left Afghans questioning what life will be like when western forces complete their evacuations. The country's vulnerable populations are a medley of those who are food insecure and displaced, along with the women, girls, and people with disabilities who are marginalized by the Taliban.Patterson estimates that since the Taliban takeover, there are around 550,000 internally displaced people in need of assistance. He also estimates that at least half the country's population is food insecure.The WFP faces a daunting task as in-country supply stocks dwindle. It needs to get 54,000 metric tonnes of food into Afghanistan before the end of the year, according to Patterson, racing against inbound harsh winter months that limit mobility.To achieve this goal, the organization needs $200 million in funding. A majority of WFP's funding comes voluntarily from various countries as well as some private donors, Patterson said. Traditionally, the US is the largest supporter. "We make an appeal to the international community," Patterson said of funding. Normally, the WFP could provide Afghans with around $80 a month in cash that they can use at local markets to get food. Since the country now faces a liquidity crisis following the closure of banks and ATMs, the organization can only give vulnerable individuals food bundles, which includes wheat flour, veggie oil, salt, and high-energy biscuits. Despite the chaos that ensued since the fall of Kabul earlier in August, the WFP's six regional offices continue to supply food in both rural and urban environments.Patterson said the organization's resources are kept away from government and military entities. The WFP transports food by road, though the chaos at the Kabul airport has denied the organization the opportunity to move people across the country. Internally displaced people and vulnerable groups in Afghanistan don't yet know if the Taliban will target them. But Patterson said he expects the organization to be able to work as scheduled and deliver aid to those in need. "We don't consider ourselves a target," Patterson said. "The Taliban have told us and the humanitarian community that they want us to stay and to be able to deliver what they know is required by the population. Them taking over doesn't grow more food for this country, doesn't reduce the food insecurity for the vulnerable."<a href="https://www.wfp.org/support-us">The World Food Programme's mission in Afghanistan.</a>

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