DAILY GK - BANKERS ADDA FEBRUARY 20 TO 28, 2017

20/02/2017

Cash withdrawal limit for savings account increases to Rs 50,000 per week

Savings accounts holders will now be able to withdraw up to Rs 50,000 per week. An RBI notification, issued on January 30,2017  announced that from February 20, 2017 the cash withdrawal limit for savings accounts will be raised to Rs 50,000 from Rs 24,000 a week. The limits on cash withdrawals from savings bank account will be withdrawn completely from March 13, 2017. Till now, there is no limit on current account and there is a cap of Rs 50,000 for farmers a week and Rs 2.5 lakh for marriage.

31st state hood day of Arunachal Pradesh and Mizoram: 20 February

. Prime Minister Narendra Modi has greeted people of Arunachal Pradesh and Mizoram on their 31st statehood day (20 February 2017) Conveying his best wishes to people of Mizoram and Arunachal Pradesh.. Prime Minister prayed for the state's progresses immensely in the years to come. Union Minister of Home Affairs Rajnath Singh also greeted both the states. 

T.R. Zeliang steps down as Nagaland chief minister

i. Ending more than two weeks of standoff with Nagaland Tribes Action Committee (NTAC), Nagaland chief minister TR Zeliang resigned from his post. 

ii. T. R. Zeliang is an Indian politician who has been Chief Minister of Nagaland, a state in northeast India, since 2014. Zeliang previously served as a Member of Parliament, representing Nagaland in the Rajya Sabha, the upper house of the Indian Parliament.

India sanctions soft loan USD 340 million to Nepal

India has sanctioned a soft loan of 340 million US dollar to Nepal for various infrastructure development programmes.. Indian Ambassador to Nepal Ranjit Rae handed over the approval papers to Physical Infrastructure and Transport Minister of Nepal Ramesh Lekhak in the presence of Railways Minister Suresh Prabhu.Under this programme Mahalaki bridge and 15 roads will be constructed in various parts of Nepal.

Oriental Bank launches mobile wallet ‘Batuaa’

On the occasion of the 75th Foundation Day, Oriental Bank of Commerce (OBC) has come up with several digital offerings including launch of mobile wallet ‘Oriental Batuaa’.Besides introducing a new version of mobile banking, OBC has also launched two new cards.While the Oriental Premium card is a RuPay based Platinum international debit card with airport lounge access, the other card-Oriental Prepaid Card is a RuPay card for individuals and corporates. Besides it has also launched two MSME schemes The two MSME schemes that have been launched are ‘Oriental Sanjeevani’ and ‘Oriental Budget Hotels and Restaurants’.Oriental Sanjeevani is a specialised scheme for doctors for setting up new hospitals and clinics. The other scheme is for individuals, proprietors, companies etc for setting up new hotels, restaurants, lodges, motels etc.

Karnataka Bank inks pact with Daimler India

Karnataka Bank Ltd has entered into a memorandum of understanding (MoU) with Daimler India Commercial Vehicles Pvt Ltd (DICV) for extending finance to customers for the purchase of commercial vehicles manufactured by the company. DICV has nominated Karnataka Bank as a preferred financier for the purchase of commercial vehicles manufactured by the company.

ICAI’s Accounting Research Foundation signs pact with Railways

The CA Institute’s Accounting Research Foundation (ARF) has signed an agreement with Indian Railways for the national rollout of accrual accounting in Railways. According to the agreement accrual accounting will be introduced at 17 Railway zones and 8 production units across the country.

IRB InvIT Fund gets SEBI approval to launch IPO

IRB InvIT Fund, an investment trust sponsored by IRB Infrastructure Developers, has received markets regulator SEBI’s approval to raise Rs. 4,300 crore through initial public offering.However, the Securities and Exchange Board of India has asked for clarification from India Grid Trust and Reliance Infra InvIT Fund regarding their proposed IPOs

Fabindia removes ‘Khadi’ brand name from its products

Fabindia has started removing the brand name ‘Khadi’ it uses to promote its cotton products after a legal notice by Khadi India that the use of the word amounted to unfair trade practice and misusing its trade name.The Khadi & Village Industries Commission (KVIC) had sent a legal notice to Fabindia Overseas Pvt Ltd, a chain of ethnic wear retail outlet, asking it to immediately stop using the word Khadi from all its cotton products and remove display banners from its showrooms.

Srinagar Airport Gets Its First Foreign Airline Service

AirAsia became the first foreign airline to begin its operations from Srinagar international airport in Jammu and Kashmir. Srinagar has The Sheikh-ul-Alam International Airport since last five years, but no  Air Asiaforeign airlines had yet operated services from there.The flight operation by AirAsia is expected to give a boost to tourism in the valley.

Microsoft, Flipkart announce strategic cloud partnership

i. Information technology giant Microsoft announced a strategic partnership with Flipkart, wherein as a first step, the online retailer will adopt Microsoft Azure as its exclusive public cloud platform.

ii. The strategic partnership was aimed at providing consumers in the country the best online shopping service.Microsoft chief executive officer (CEO) Satya Nadella and Flipkart Group CEO Binny Bansal announced the partnership at an event in Bengaluru.

Ranganathan, Mehta appointed Non-Official Director in IOB, PNB 

T C A Ranganathan and Sunil Mehta were appointed as Non-Official Directors in Indian Overseas Bank and Punjab National Bank by the Appointments Committee of Cabinet. Both appointed for a period of three years. It is announced by Personnel Ministry. Prior to this,  T C A Ranganathan has worked as the CMD of Exim Bank while Mehta is currently Chairman & Managing Director at SPM Capital Advisors Pvt Ltd.

Indian Movie Newton Wins top Honour at Berlin Film Festival

Indian Cinema movie Newton directed by Amit Masurkar was honored with the Art Cinema Award in the Forum Segment at the 67th Berlin International Film Festival held from February 9-18, 2017 in Berlin, Germany. Over 43 films were screened in the Forum segment out of which 29 had their world premiere.The film is produced by Manish Mundra of Drishyam Films, company best known for bankrolling critically-acclaimed projects such as Masaan, Ankhon Dekhi and Umrika.

Apple acquires Israeli start-up RealFace

In a bid to boost its prospects in the world of artificial intelligence (AI), Apple has acquired Israel-based start-up RealFace that develops deep learning-based face authentication technology.The terms of the deal are not public, but it is estimated at several million dollars. Apple would mainly be interested in the promise of the technology than pure resources.

Hema Malini: Beyond the Dream Girl penned by Ram Kamal Mukherjee

An actor turned politician Hema Malini’s journey from an actor and filmmaker to a politician being chronicled as an authorised biography titled ‘Hema Malini: Beyond the Dream Girl‘ . The biography is written by author-columnist Ram Kamal Mukherjee.

Former Chief Justice of India Altamas Kabir Passes Away

Former Chief Justice of India Altamas Kabir passed away at a city hospital, recently. He was 68. He was suffering from a kidney ailment and related complications. He was appointed as the Chief Justice of India on September 29, 2012. He retired on July 19, 2013.

Virat Kohli first Indian sportsperson to ink Rs 100-cr deal with Puma

Virat Kohli became the first Indian sports personality to strike a Rs 100-crore endorsement deal with a single brand. Kohli signed an eight-year deal with sports apparel brand Puma worth Rs 110 crore. The Indian cricket captain is now set to join the likes of Usain Bolt, Asafa Powell and Thierry Henry, among others, as a global ambassador for the brand.

India to Host Next Davis Cup tie in Bangalore in April, 2017

Bangalore has been chosen to host the next Davis Cup Asia-Oceania Zone group-1 tie against Uzbekistan from April 7 to 9, 2017.As per the announcement made by the All India Tennis Association (AITA) the tie clash will be held on the hard courts of Karnataka State Lawn Tennis Association (KSLTA) in Bangalore.

Akhil and Jitender Kumar Signs Deal to Turn Professional Boxers

. Following the path of Indian boxing sensation Vijender Singh, Olympic quarterfinalists boxers Akhil Kumar and Jitender Kumar are also stepping up to enter professional boxing.The former Melbourne Commonwealth Games gold medalist boxer Akhil Kumar and Asian medallist Jitender Kumar signed a multi-year deal with IOS Boxing Promotions confirming turning professional boxers.

Afghan players Mohammad Nabi, Rashid Khan create IPL history

Afghanistan cricket broke a new barrier when Mohammad Nabi and Rashid Khan became the first from the war-torn nation to be picked in the Indian Premier League (IPL) auction.. Both Nabi and Khan players were bought by Sunrisers Hyderabad, for Rs. 30 lakh and Rs. 4 crore respectively. Five cricketers from Afghanistan were included in the auction for the first time.

Shahid Afridi retires from international cricket

Pakistan all-rounder Shahid Afridi has announced his retirement from international cricket, but stated that he wants to play in his country’s domestic league for two more years.The flamboyant allrounder, who played the last of his 27 tests in 2010 and retired from one-day internationals in 2015, quit as Pakistan’s 20-overs captain after the team’s poor World Twenty20 campaign in India last year.

21/02/2017

Bharat QR code launched to push less-cash economy

Bharat QR code the world's first inter-operable payment acceptance solution, was launched as part of efforts to move towards less-cash economy at an insignificant cost, according to RBI.   Payment networks such as MasterCard and Visa have joined hands with NPCI to launch Bharat QR, a common Quick Response(QR) code that would enable seamless digital payments without card swiping machines.  Built under the direction of the Reserve Bank of India in September 2016 . This Bharat QR code is expected to be convenient for those who are into mobile banking and do not want to use debit or credit cards for small ticket payments. Bharat QR code is seen as a better alternative to physical Point-of-Sale (PoS) machines which involves capital costs.

International Mother Language Day

UNESCO celebrates International Mother Language Day (IMLD) on February 21, 2017 under the theme "Towards Sustainable Futures through Multilingual Education". To foster sustainable development, learners must have access to education in their mother tongue and in other languages. It is through the mastery of the first language or mother tongue that the basic skills of reading, writing and numeracy are acquired. Local languages, especially minority and indigenous, transmit cultures, values and traditional knowledge, thus playing an important role in promoting sustainable futures.

BHIM downloads at over 17 mn, a world record

Bharat Interface for Money (BHIM), a mobile app pushed by the government to make digital payments a mass movement in India, has seen over 17 million installs (downloads), a world record, Amitabh Kant, CEO, NITI Aayog, has stated.The Centre will also soon roll out a cash-back scheme to give a further boost to the use of BHIM

Buying jewellery over Rs 2 lakh in cash will attract 1% tax from April 1, 2017

Cash purchases of jewellery will attract 1% TCS (Tax Collected at Source) from April 1, 2017 if the amount exceeds Rs 2 lakh,as against the current threshold of Rs 5 lakh. Once the Finance Bill 2017 is passed, jewellery will be treated on par with generalgoods which attract 1% TCS on cash purchase of above Rs 2 lakh. The Bill seeks to do away with the threshold of Rs 5 lakh on jewellery purchases for applicability of TCS because the Union Budget 2017-18 has proposed to ban cash dealings of over Rs 3 lakh andmake violations punishable with a penalty of an equivalent amount to be paid by person receiving the cash.

India as the World’s Largest Arms Importer in the Last Four Years

According to a report released by Stockholm International Peace Research Institute (SIPRI) India emerged as the world’s largest importer of major arms during 2012–16.As per the report, India accounted for 13% of the global total sales.The total volume of international transfers of major weapons has grown continuously since 2004 and increased by 8.4 per cent between 2007–11 and 2012–16 According to the data in Asia,India increased its arms imports by 43 percent between 2007–11 and 2012–16 which is far greater than the imports by its rivals China and Pakistan. Between 2007 and 2011, India accounted for 9.7% of global imports which is still more than any other country.Major arm suppliers to India include Russia, USA, European states, Israel and South Korea.

State Bank of India website gets a new avatar 

Country's largest lender State Bank of India (SBI) has rebranded its corporate website as "bank.sbi" from the earlier sbi.co.in.  Bank.sbi is the highest domain protocol, known as generic top level domain (gTLD).The adoption of gTLD enables an organisation to use its corporate name .sbi as their website’s top-level identifier instead of using a more traditional ".com" or ".co.in" domainsThe existing web address will remain active till customers become familiar with operating through the new address.With this, SBI has become the first banking organisation in India to use a gTLD for its internet presence. This is expected to provide enhanced security to its customers.

Apollo Hospitals Foundation signs agreement with WWF-India

Apollo Hospitals Foundation will provide medical support to forest department employees and local communities in the areas where WWF-India operates for conservation.The two organisations have entered into a memorandum of understanding (MoU) in this regard.The medicare will be available to over 27,000 staff and people in about 17 states of WWF-India operations. They will be provided with medical treatment, including air ambulance services in critical and emergency conditions. 

Shurhozelie Liezeitsu elected new Nagaland CM

Nagaland People’s Front (NPF) president Shurhozelie Liezeitsu will be sworn in as the state’s eleventh Chief Minister. As Nagaland Former Chief Minister T R Zeliang stepped down from the post on February 19, 2017 facing revolt from his party MLAs against the decision to reserve 33% seats for women in urban local bodies.

EDII wins International Mercury Award 2016-17

The Ahmedabad-based Entrepreneurship Development Institute of India (EDII), an acknowledged national resource institute for entrepreneurship education, research, training and institution-building, has received the prestigious International Mercury Awards (IMA) for the year 2016-17 for the best overall presentation of its 2015-2016 annual report. 

Tata Steel's Katamati Mine wins Best Green Award

Tata Steel's Katamati iron mine has been honoured with the the Best Green Organisation of the Year Award at the Global Green Future Leadership Awards in recognition of its environmental protection measures. The award was presented at a function organised by World CSR Day on February 18, 2017 in Mumbai. 

Britannia Industries signs non-binding MoU with Chipita

FMCG major Britannia Industries has signed an MoU with Greece’s cakes and confectionery major Chipita and is in advance stage of discussion to finalise definitive agreements, including a joint venture. . Chipita is already operating in India. The company has been operating outside Greece since 1995 by setting up manufacturing plants in Bulgaria, Portugal and Egypt, followed by Poland, Romania, Russia and Saudi Arabia and more recently India, and Turkey.

V Ramakrishnan appointed as TCS CFO, N Chandrasekaran named TCS Chairman too

. Tata Sons Chairman designate Natarajan Chandrasekaran will also hold the chairmanship of the group's crown jewel Tata Consultancy Services . . The country's largest software services provider has also named V Ramakrishnan as its Chief Financial Officer to succeed Rajesh Gopinathan, who will take over as the CEO and MD of the Tata Group company.     

Russia to begin military helicopters deliveries to India in 2018

Russia will start initial deliveries of military helicopters to India in 2018, with assembly and manufacturing to follow in Asia's fastest growing economy.India and Russia signed an agreement in October, 2016 to jointly manufacture 200 of the KA-226T helicopters for the Indian Armed Forces. Both countries have agreed to cooperate in energy and defence as India seeks to modernise its armed forces and build a nuclear industry and sanctions-hit Russia looks for investment and new markets.

US President appoints Lt. Gen. Herbert Raymond McMaster as new National Security Advisor

US President Donald Trump has appointed Lt Gen Herbert Raymond McMaster as his new National Security Advisor following the ouster of Michael Flynn last week.  Making the announcement at his residence in Florida, Mr Trump described McMaster, currently Director of the Army Capabilities Integration Center, as a man of tremendous talent and experience.

SpaceX Falcon 9 Rocket Successfully Launches From NASA launch Pad

The California-based SpaceX onboard its Falcon 9 rocket launched a robotic Dragon cargo ship with about 5,500 pounds (2,500 kg) of supplies and science experiments toward the International Space Station on February 19, 2017 from Launch Complex 39A of NASA’s Kennedy Space Center in Florida.

Noted bureaucrat V. K. Srinivasan passes away

V. K. Srinivasan, noted bureaucrat, columnist and director of the Institute of Economic Studies passed away after a prolonged illness in Hyderabad. He was 76 and is survived by a son and a daughter.

Hindi novelist Ved Prakash Sharma passes away

Famous Hindi novelist Ved Prakash Sharma was passed away in Meerut, Uttar Pradesh on February 18, 2017 . He was 62. He has written nearly  176 novels includes “Qaidi No 100” and “Vardi Wala Gunda“. He had also written scripts for about half-a-dozen Hindi movies.

22/02/2017

 

Health Ministry launches ‘Saathiya Kits’ to improve adolescent health

 Union Health Secretary C.K. Mishra has launched “Saathiya Resource Kits” that will provide information on adolescent related issues such as puberty and mental health, among others.The resource kit comprises of an Activity Book, Bhranti-Kranti Game, a Question-Answer  Saathiya KitsBook and a Peer Educator Diary.Mishra also launched the mobile app ‘Saathiya Salah‘ for adolescents. The initiative, launched as part of the Rashtriya Kishor Swasthya Karyakram (RKSK) program.

Cabinet approves signing of Air Services Agreement between India and Greece

Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the signing of Air Services Agreement (ASA) between India and Greece.The Agreement has the potential to spur greater trade, investment, tourism and cultural exchange between the two countries bringing it in tune with the developments in the civil aviation sector. It will provide enabling environment for enhanced and seamless connectivity while providing commercial opportunities to the carriers of both the sides ensuring greater safety and security.

No info on number of accounts with large deposits post Nov 8, 2016

The RBI is not aware of the number of bank accounts in which more than Rs 2.5 lakh in the scrapped currency notes of Rs 500 and Rs 1,000 were deposited between November 8 and December 30, 2016 under the Right to Information Act.The RBI also did not have the number of accounts in co-operative banks in which more than Rs 2.5 lakh were deposited in the scrapped notes during the period.

Delhi to get India's first heliport

The first heliport in India will be inaugurated by Civil Aviation Minister Ashok Gajapathi Raju in North Delhi on (28 February 2017). The heliport, built by state-owned Pawan Hans, consists of a terminal building, nine parking bays and four hangars with a parking capacity of 16 helicopters. It was built at an investment of ₹100 crore

Government launches ‘Cyber Swachhta Kendra’ to protect citizens

At a time when cyber attacks are increasing Union Minister of Electronics and IT Ravi Shankar Prasad launched Cyber Swachhta Kendra in New Delhi  for Botnet cleaning and Malware analysis as a part of digital India initiative.He also launched two mobile apps. Mkavach to protect smart phones and tablets from hackers. Samvid to protect Desktops from suspicious applications from running.

India & China to hold their 1st Strategic Dialogue

India and China will hold their first Strategic Dialogue in Beijing. The two sides are expected to discuss all issues of mutual concern and interest including friction points. External Affairs spokesman Vikas Swarup stated that two countries will discuss all issues of mutual interest in bilateral, regional and international domain. 

Gujarat Assembly passes Aadhaar Bill, 2017 

The Gujarat Assembly passed Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Bill, 2017 to empower the state government to use Aadhaar number as the sole identifier for the delivery of various subsidies and benefits in an effective and targeted manner.This bill will help the government create a credible system to authenticate the identity of actual beneficiaries. The assembly also passes two other bills which includes the Gujarat Panchayats (Amendment) Bill and the Gujarat Town Planning and Urban Development (Amendment) Bill.

Arunachal CM Pema Khandu inaugurates Composite Regional Centre in Itanagar

Arunachal Pradesh Chief Minister Pema Khandu in the presence of Union Minister of State for Home Affairs Kiren Rijiju inaugurated the Composite Regional Centre at Itanagar Banquet Hall, Arunachal Pradesh.To create resources and infrastructure required for developing services for persons with disabilities with an outlay of Rs.20 Crore. The centre is established under the National Institute for Locomotor Disabilities (NILD), Kolkata.

CCEA approves investment proposal for generation component of Arun-3 Hydro Electric Project in Nepal

Cabinet Committee on Economic Affairs, CCEA has approved investment proposal for generation component of Arun-3 Hydro Electric Project in Nepal by SJVN Limited.  Power Minister Piyush Goyal stated that the decision demonstrates government's commitment to promote clean and green energy in India and the sub continent. 

MoU signed for welfare of Handicraft Artisans belonging to Scheduled Castes 

Ministry of Textiles and Ministry of Social Justice and Empowerment have come together to step up interventions for the economic development of an estimated 12 lakh scheduled caste artisans.  An MoU was signed between Development Commissioner (Handicrafts), Ministry of Textiles and National Scheduled Castes Finance and Development Corporation (NSFDC) with the objective of working together to improve the earnings of artisans across the country, belonging to Scheduled Castes categories.

Jammu & Kashmir to observe 2017 as Year of Apple

J & K Chief Minister Mehbooba Mufti has declared 2017 as ‘Year of Apple’ to promote the famed Kashmiri apples in domestic and foreign markets.She also launched the High Density Apple Plantation Scheme in Srinagar to provide 50% subsidy.

SIDBI, Vijaya Bank combine to provide concessional loans to micro, small units

Small Industries Development Bank of India (SIDBI) has signed a Memorandum of Understanding (MoU) with Vijaya Bank for providing concessional finance to micro and small enterprises (MSEs).The MoU aims at promoting and strengthening units in the MSE segment through concessional funding  that is at the marginal cost of funds-based lending rate (MCLR) of Vijaya Bank under refinance from SIDBI.

Telangana Govt signs MoU with NABARD for Rs 874 crore loan

The Telangana Government led by K. Chandrashekar Rao signed an  Memorandum of Understanding (MoU) with NABARD for a loan of Rs 874 crore .This loan will be used for Horticulture Development Corporation to cover 3.15 lakh acres under Micro Irrigation scheme for 2016-17 and 2017-18.

Indian Coast Guard offshore patrol vessel commissioned in Goa

Union Railway Minister Suresh Prabhu commissioned the fourth ship of Indian Coast Guard named ‘Shaunak’, in the series of six offshore patrol vessels (OPV) in Vasco, located in South Goa. 'Shaunak' has been designed and built indigenously by Goa Shipyard Ltd that can carry one twin engine light helicopter and five high speed boats.

Azerbaijan Prez names wife as country’s First Vice President

Azerbaijan's President Ilham Aliyev appointed his wife Mehriban Aliyev as the First Vice President of the country. The position was created after a constitutional referendum in September, 2016. . According to Azerbaijan's constitution, the First Vice President takes over the country's presidency if the president is unable to perform the duties.

Dish TV partners with ICICI Bank for digital payments

. Direct-to-home operator Dish TV joined hands with India’s largest private sector lender ICICI bank for digital payments. It will enable customers to do recharge through unified payment interface (UPI) transactions.

CII signs MoU with Singapore trade and business agencies

. For the first time, Confederation of Indian Industry (CII) has signed a Technology Partnership MoU with two Singapore agencies International Enterprise (IE) Singapore and the Singapore Business Federation (SBF) to promote expertise in expanding businesses.It will help build platforms to forge partnerships that connect our small enterprises and startups

Justice Sapre appointed chairman of Cauvery Water Disputes Tribunal

Justice Abhay Manohar Sapre has been appointed the chairman of Cauvery Water Disputes Tribunal (CWDT). He was nominated for the post by Chief Justice J.S. Khehar. The post fell vacant following the resignation of Justice Balbir Singh Chauhan.

For the first time in the world, Microsoft to deploy Azure Stack in Andhra Pradesh

The chief minister Chandrababu Naidu and Microsoft CEO Satya Nadella singed an MoU during an event called ‘Microsoft Future Decoded’ in Mumbai.
Under the MoU, Microsoft Azure Stack for the first time in the world will be used to migrate live applications currently hosted in Hyderabad State Data Centre (SDC) to Vizag data centre.

An international zip line connects Spain and Portugal

A zip line connecting Spain and Portugal, is known to be the first cross-border zip line in the world.The 720-metre-long zip line joins the two countries, allowing people to reach Portugal within a minute.On reaching Portugal, the participants gain one hour because of the time zone change.

Dustin Johnson dominates Genesis Open to overtake world No. 1

American professional golfer Dustin Hunter Johnson  has claimed No 1 Position in  Official World Golf Ranking for the first time in his career.This feat comes after he ended up with a world-class performance by winning Genesis Open 2017 at Riviera.

Haryana CM, confer Bhim Award to 42 sportspersons

The Haryana government gave away the Bhim awards to 42 sports persons of the state, spotting them for their outstanding performance at the national and international fronts between the years 2013 and 2017.The awards were given by the Chief Minister Manohar Lal Khattar and Governor Kaptan Singh Solanki at a function held at Haryana Raj Bhawan.A total prize money of Rs 2.10 crore was distributed among the 42 sports persons and the awardees would be presented Bhim award.

23/02/2017

Cabinet approvals: 23 February 2017

i. Cabinet approves MoU between India and Australia for promotion and development of cooperation in civil aviation security.Cabinet approves signing of Air Services Agreement between India and Greece Cabinet approves signing of an Agreement between India and Poland on cooperation in the field of agriculture and allied sectors.

India's GDP projected to slow to 6.6% due to demonetization Strains: IMF

India's growth is projected to slow to 6.6% in 2016-17 fiscal due to the strains that have emerged in the economy as a result of temporary disruptions caused by demonetization. The post November 8, 2016 cash shortages and payment disruptions caused by the currency exchange initiative have undermined consumption and business activity, posing a new challenge to sustaining the growth momentum. India's economy grew at 7.6% in 2015-16.

Govt doubles maternity leave for women workers in industries

The government has allowed women working in industries to take six months maternity leave pre-empting parliamentary approval on the maternity benefit amendment bill that is pending in the Lok Sabha.Through an executive order the labour and employment ministry has doubled maternity leave to six months from three for industrial women workers. However the benefit will be restricted to women who make a monthly contribution to the employees’ state insurance corpus from their salaries. This means about 2.9 million women working across various industries will get the benefit.

National Biodiversity Congress 2017 held in Kerala 

i. Third National Biodiversity Congress (NBC) 2017 held in Thiruvananthapuram, Kerala. To identify practical evidence based case studies at regional level to support the plan of action. . Biodiversity is the lifeline of a nation and to retain pulses is the responsibility of every individual and society with the support of science and technology and through sustainable development CM Pinarayi Vijayan stated. Theme of National Biodiversity Congress 2017 is “Mainstreaming Biodiversity for Sustainable Development”.

GVA growth to decline by 70 bps to 6.2% in Q3: ICRA

The economy based on the gross value added (GVA) is set to slip to 6.2% in the December quarter from 6.9 percent a year ago, and GDP growth will decline to 6.5% from 7.2%, stated by domestic rating agency information and credit rating agency (ICRA).The slippages will be driven by the slowdown in growth of the industry and services, offsetting the healthy agricultural expansion during the period, the agency added.

Bharti Airtel to acquire Telenor India

i. The country's largest telecom services provider, Bharti Airtel (Airtel) has officially announced that it will acquire Telenor India. Although both the companies did not disclose the deal size, internal sources from the companies said it ranges between Rs. 6,500 crore and Rs. 7,000 crore. . According to Telenor, the transaction will not trigger any impairment. As part of the agreement, Airtel will acquire Telenor India’s running operations in seven circles  Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. 

Karnataka Bank bags 2 awards

Karnataka Bank has bagged two ‘IBA-Banking Technology’ awards. The bank was the winner in ‘Best financial inclusion initiatives (small bank)’ category, and was runner-up in ‘Best use of digital and channels technology (small bank)’ category. IBA-Banking Technology award recognises and rewards individuals, professionals and banks who have recorded noteworthy technology and business benefits in 2016.

Bharat Financial Inclusion Ltd launches instant microloan facility

i. Hyderabad based non-banking finance company Microfinance institution Bharat Financial Inclusion Ltd launched an instant loan approval at a village near Bassi in Jaipur district, Rajasthan. The objective of this initiative to help rural areas embrace cashless transactions. The loan amount will be  deposited directly to the loanees bank account.The loan facility based on a three-step verification process of Aadhar-based eKYC, credit bureau authentication and e-Sign and non collateral loans up to Rs 60,000 for one year to rural women. It will be rolled out by June 2017 in all microfinance company's nationwide network with several being in Rajasthan, Bihar and Delhi.

Nasscom signs MoU with ITAC Japan 

i. The National Association of Software and Services Companies (NASSCOM) has signed a Memorandum of Understanding(MoU) with the IoT Acceleration Consortium (ITAC) Japan.To collaborate to address digital technology shifts and accelerate IoT (Internet of Things) adoption at a global level across the industry.

AAI, IATA launch e-billing solution SKYREV360 for airport operators

i. The state run Airports Authority of India, along with International Air Transport Association (IATA) launched its e-billing solution for airport operators and air navigation services providers across the world.The e-billing solution, SKYREV360 developed by in-house experts the electronic billing solution for data, e-invoicing and collection of tariff from the airlines is being used by the AAI for several years now.

N Chandrasekaran elected chairman of Indian Hotels

i. N Chandrasekaran has been elected as the Chairman of its board of directors. N Chandrasekaran has been elected as the Chairman of the board of directors of the company with effect from February 22, 2017 vide a written resolution of the Board.He was initially appointed as a Member of the board on January 27, 2017 Chandrasekaran had taken over as Chairman of Tata Sons on February 21, becoming the first non Parsi Chairman of the USD 103 billion Tata Group after heading its crown jewel TCS for years.

FreeCharge CEO Govind Rajan Quits

i. The chief executive officer of Jasper Infotech-owned digital payments platform FreeCharge, Govind Rajan has submitted his resigned.Snapdeal’s chief strategy and investment officer, Jason Kothari will oversee the business operations of FreeCharge.

Suresh Prabhu unveils Antyodaya Express for common man

i. Railway Minister Suresh Prabhu unveiled Antyodaya Express for common man Equipped with cushioned seats, aluminium composite panels, and LED lights, the Antyodaya Express, a new fully unreserved train for the common man with specially designed colourful coaches.. The first Antyodaya Express will be launched between Mumbai and Tatanagar, and the second will be between Ernakulam and Howrah shortly

7 new Earth-like exoplanets discovered, NASA announced

i. Astronomers of NASA have discovered seven Earth-sized planets orbiting a star called TRAPPIST-1. Three of them are in the habitable zone  the happy place where liquid water can exist on the surface of rocky planets, as it’s not too hot or cold. The space agency calls the discovery of the fascinating solar system record-breaking. The three planets in the habitable zone, also known as the Goldilocks Zone, are called TRAPPIST-1e, f, and g. Exoplanet “e” is about the same size as Earth and even gets around the same amount of star light as we do.

WTO's trade facilitation agreement comes into effect

i. The WTO's trade facilitation agreement, which seeks to ease customs norms, came into effect from with its two-thirds members ratifying the pact. The TFA, which has been ratified by India, will give a boost to the global trade, which has been impacted due to slowdown in the world economy. According to experts, the agreement comes at a time when India's efforts to improve exports are gaining momentum.The 164-member World Trade Organisation (WTO) in a statement stated that a major milestone for the global trading system was reached as the first multilateral deal concluded in the 21-year history of the multi-lateral trade body entered into force.

Russia’s UN envoy Vitaly Churkin dead at 64

i. Russia’s ambassador to the United Nations, Vitaly Churkin has died in New York City. He was 64.Churkin has been Russia’s envoy at the United Nations for a little over a decade and was considered Moscow’s great champion at the UN.

Mithali, Harmanpreet in top-10 of ICC rankings

i. India’s one day captain Mithali Raj and Harmanpreet Kaur were placed 2nd and 10th in the ICC batswomen’s rankings released after the World Cup qualifier that ended recently. . Meg Lanning of Australia leads the charts with 804 points while Raj with 733 points is second in the list. Harmanpreet, known for her towering sixes has 574 points.

Adidas Ties Up With FIFA U-17 World Cup For Mission XI Million

 German Sportswear giant Adidas announced its ties up with FIFA U-17 World Cup Local Organizing Committee for the Mission XI Million programme. 

India to host 2019 Combined World Cup for shooting

i. The National Rifle Association of India(NRAI) announced that India will be hosting the Combined World Cup for shooting in 2019 during the meeting held in New Delhi.Combined World Cup will a qualifying event for the 2020 Tokyo Olympics. It will comprises all the three categories shotgun, rifle and pistol.

24th February, 2017

9th BRICS Summit to be held in China's Xiamen city

i. The ninth BRICS Summit will be held in China's Xiamen city from September 3 to 5, 2017. The theme of this year's event is 'BRICS: Stronger Partnership for a Brighter Future'.The Xiamen BRICS summit will promote members strengthening solidarity and collaboration, and improving global governance, deepening pragmatic cooperation to achieve mutual benefit.

India and Japan ink pact on rail safety

i. India signed an agreement with Japan on enhancing railway safety in the Indian Railways with focus on railway track and rolling stock safety.. The areas of cooperation include rail inspection, rail wielding and providing automatic railway track safety inspection, maintenance of rolling stock and “any other relevant railway safety matters jointly determined by both sides” with the aim to prevent major rail accidents.

74th Central Excise Day celebrated by CBEC

i. The Central Board of Excise and Customs (CBEC) celebrated 74th Central Excise Day on 24th February in New Delhi. CBEC is the single largest contributor to the national exchequer with the collection of Rs 8,50,000 crore a year. Justice Satish Chandra, President, Customs, Central Excise and Service Tax Appellate Tribunal (CESTAT) was the chief guest. Olympic silver medalist, P.V. Sindhu was the guest of honour.

Sikkim becomes 22nd State to join UDAY

The Center and and the state of Sikkim has signed a Memorandum of Understanding (MoU) under the Ujwal DISCOM Assurance Yojana (UDAY) for operational improvement of the state’s power distribution department. . With the signing of the MoU, the total number of states covered under UDAY has reached 22. Andhra Pradesh is the first state to join UDAY Scheme.

Maneka Gandhi announces compensation fund for child abuse victims

. Women and Child Development Minister Maneka Gandhi has announced the setting up of a compensation fund under Nirbhaya scheme to provide financial help to children who are victims of sexual crimes.

Visa signed MoU with AP to make Vizag, India’s first 'less cash' city

Global payments network Visa signed a memorandum of understanding (MoU) with the Andhra Pradesh government to help transform Vishakhapatnam into India's first 'less cash' city. This initiative is designed to provide the foundation for the city to emerge as India's 'Fintech Valley'.

Kerala to launch sex offenders registry, first in the country

The Kerala government will launch the country’s first sex offenders registry which will contain all identification details of sex offenders and would be kept in public domain..  A comprehensive victim relief fund will be set-up by the state government to provide interim relief for victims of sex crimes, both children and adults.

Oriental Bank Ties Up With Chola Mitsui Sumitomo To Sell Insurance Products

Haryana based Oriental Bank of Commerce has signed a corporate agency agreement with Chennai based general insurance provider Cholamandalam General Insurance Company for distribution of insurance products.The insurance products includes motor, health, home and travel.

Tata Power Renewable commissions 15 MW solar plant in Telangana

Tata Power Renewable Energy Ltd has synchronised its 15 MW solar plant at Bellampally in Telangana, thereby taking the Tata Power's total installed operating capacity past 10,500 MW mark.The solar plant has been built over 80 acres of land and includes an 18 km transmission line.

China overtakes US, France as Germany’s biggest trading partner, for first time

China for the first time became Germany’s most important trading partner in 2016, overtaking the United States, which fell back to third place behind France in the data shown recently. German imports from and exports to China rose to 170 billion euros ($180 billion) in 2016, Federal Statistics Office figures reviewed by Reuters showed. France remained the second-most important business partner with a combined trade volume of 167 billion euros. The United States came in third with 165 billion euros.

Nobel-Winning Economist Kenneth J. Arrow Dies At 95

Nobel-winning economist, mathematician Kenneth J Arrow has died in USA . He was 95.Kenneth  received the Nobel memorial prize in economic science for their pioneering mathematical work on general equilibrium theory in 1972 

Ravichandran Ashwin breaks Kapil Dev's record of most wickets in home season 

Premier off-spinner Ravichandran Ashwin, broked Kapil Dev's Indian record of most Test wickets in a domestic season. Ashwin, the fastest in the world to reach 250 Test wicket mark recently and took his tally of wickets in the current home season to 64 in 10 Test matches broke Kapil Dev's record who took 63 wickets in 13 Tests.

27/02/2017

OSCAR AWARDS 2017

. The 89th Academy Awards ceremony (commonly referred as Oscar Awards) , presented by the Academy of Motion Picture Arts and Sciences (AMPAS) to honor the best films of 2016, in 24 categories, held at the Dolby Theater in Los Angeles, California. The ceremony, televised in the United States by ABC, produced by Michael De Luca and Jennifer Todd and Directed by Glenn Weiss. Comedian Jimmy Kimmel hosted the ceremony for the first time.

Chandra Shekhar Azad's 86th Martyrdom Day observed: 27th February
Chandra Shekhar Azad's 86th Martyrdom Day observed on 27th February. He was born on 23 July 1906, in Bhavra, Alirajpur. He died on 27 February 1931 at Allahabad. He lived for mere 24 years, but made a world of difference to India’s freedom struggle.


India, Germany ratify Social Security Agreement

India and Germany have ratified the Social Security Agreement (SSA), which will come into force from 1st May 2017, to help promote more investment flows between the two countries.The SSA will also integrate the provisions of the 2008 social insurance pact that exempts detached workers of the two country from making social security contributions in both the countries.

Rajasthan Inaugurates Medical Project RAHAT for Prompt Treatment of Heart Disease

Rajasthan Chief Minister Vasundhara Raje  inaugurated a medical project Rajasthan Heart Attack Treatment programme (RAHAT) at the Eternal Heart Care Center Hospital in Jaipur. RAHAT programme aims to provide people in remote and rural areas with timely treatment during heart attacks. It has been launched by the private hospitals in the state.Under the programme, the patients facing heart attack would be provided with emergency ambulance service and telemedicine service through Eternal Heart Care Center Hospital.

Mumbai richest Indian city with total wealth of $820 bn

According to the New World Wealth report Mumbai, the financial capital of India has been named as the Richest Indian city with a total wealth of $ 820 billion. Delhi  with a total wealth of $ 450 billion and Bengaluru with a total wealth of $ 320 billion in the second and third places, respectively.

SoftBank, Foxconn form joint venture to expand investments 

Japan's SoftBank Group Corp and Taiwan's Foxconn have agreed to form a joint venture, as the two large Asian technology companies expand their ties.The arrangement involves Foxconn buying a 54.5% stake in SoftBank Group Capital Apac Pte Ltd, a wholly owned SoftBank unit, for $600 million

UBI ties up with IRCTC to launch railway booking facility

Kolkata-based United Bank of India (UBI) has launched a railway ticket booking facility by having a direct tie-up with IRCTC. With the introduction of this facility, UBI customers can now book railway tickets seamlessly through IRCTC website using the bank’s debit card.

TCS Ranked Among Top Three IT Services Brands Globally by Brand Finance

India’s largest software services firm Tata Consultancy Services (TCS) has been rated as one of the top three 'most-valuable brands' in the Information Technology (IT) service sector by Brand Finance, the leading global brand valuation firm. As IBM and Accenture are on the top two positions.However, the overall global position of the company dropped down by one spot to 25th from 2016 when it was 24th. TCS was also rated as Tata Sons highest brand strength of AA+ and generates 69% of the total revenue of the parent company.

World's first robot table tennis tutor sets Guinness record

. The world's first robot table tennis tutor FORPHEUS in Japan has set a new Guinness World Record for its uncanny ability of being able to play the game better than most humans. FORPHEUS (Future Omron Robotics Technology for Exploring Possibility of Harmonised Automation with Sinic Theoretics) has officially been given the Guinness title for its unique technological intelligence and educational capabilities.

Saina Nehwal to represent Olympic Committee in BWF

Star Indian badminton player Saina Nehwal was appointed as a member of the International Olympic Committee's (IOC) Athletes' Commission (AC) in 2016, will represent the panel in the Badminton World Federation (BWF). Saina would join the Badminton World Federation (BWF) Athletes' Commission as a representative. Currently, ranked world number 10 in BWF rankings.

John-John Dohmen, Naomi Van named best Hockey Players of 2016

FIH (International Hockey Federation) Hockey Stars Awards were conferred in Chandigarh. This was first time in the history of Hockey that the ceremony was held to honor best players, rising stars, goalkeepers, umpires and coaches. Belgium captain John-John Dohmen and Netherlands' Naomi Van were named as male and female International Hockey Federation's player of the year, 2016 awards respectively.

Jo-Wilfried Tsonga defeats Lucas Pouille to win 2017 Open 13

Second-seeded Jo-Wilfried Tsonga defeated Frenchman Lucas Pouille to win the 2017 Open 13.The '2017 Open 13' is a men's tennis tournament played on indoor hard courts. It was the 24th edition of the Open 13, and part of the ATP World Tour 250 series of the 2017 ATP World Tour, at the Palais des Sports in Marseille, France, from 20 February to 26 February 2017.

28/02/2017

National Science Day: 28 February

National Science Day is celebrated all over India with great enthusiasm on 28th of February every year in order to commemorate the invention of the Raman Effect in India by the Indian physicist, Sir Chandrasekhara Venkata Raman on the same day in the year 1928.  For his great success in the field of science in India, Chandrasekhara Venkata Raman was honored with the Nobel Prize in the Physics in the year 1930.

India & Ukraine to strengthen bilateral cooperation through Cinema 

Minister for Information & Broadcasting M Venkaiah Naidu and Member of the Parliament of Ukraine and Chairman of the National Council of Television Ukraine Mr. Iurii Artemenko have agreed to strengthen the bilateral cooperation between the two countries through the medium of Cinema in New Delhi. The cooperation would be helpful to showcase films through the medium of Film Festivals and utilizing the Film Facilitation Office platform established by India.

Iran and Russia Agrees Road map to Jointly Produce Nuclear Fuel

Iran's Atomic Energy Organisation (AEOI) stated that Russia and Iran have reached an agreement to jointly produce nuclear fuel. A preliminary agreement with Russia on the joint production of nuclear fuel was reached during the nuclear negotiations between Iran and the major world powers in 2015. 

Government Issues Sovereign Gold Bonds 2016-17-Series IV

The Government of India launched the 7th tranche of the Sovereign Gold Bonds and it will be the last offering for 2016-17.The Sovereign Gold Bonds 2016-17–Series IV will be issued by the Reserve Bank of India (RBI) on behalf of Government of India. Applications for the bond has accepted from February 27, 2017 to March 03, 2017 and the Bonds will be issued on March 17, 2017. The Bonds will be sold through banks, Stock Holding Corporation of India Limited (SHCIL), designated post offices, National Stock Exchange of India Limited and Bombay Stock Exchange.

Suresh Prabhu flags off first Antyodaya Express between Ernakulam, Howrah

Railway Minister Suresh Prabhu flagged off the first Antyodaya Express a long distance, fully unreserved, superfast train service between Kochi's Ernakulam Junction and Howrah Junction through video conferencing from Rail Bhavan. The new clan of trains will have facilities like cushioned luggage racks which can serve as seats, potable drinking water dispenser, mobile charging points, modular toilets of reinforced plastic, toilet occupation indication display board, LED lights among others for comfortable long distance travel.The 22-coach train will cover a distance of 2,307 kilometers in 37 hours.

Haryana Launches Online Sex Ratio Monitoring System For Panipat

The Haryana government has set up an online system for Panipat to monitor the sex-ratio in the district as part of the 'Beti Bachao Beti Padhao' programme.. The system, called the sex ratio monitoring dashboard, will have the data of child sex-ratio collected from all villages by the Health and Women and Child Welfare Departments every month.The dashboard had been developed in association with National Informatics Centre (NIC) as a pilot project.The dashboard is also proving to be an effective tool for enhancing ground-level coordination between the Health and Women and Child Welfare Departments.

Apollo Munich and Dena Bank Enters Into Bancassurance Tie-Up 

. Standalone health insurer Apollo Munich Health Insurance expanding its footprint across the country with bancassurance tie-up with state-owned Dena Bank. . Under the tie-up the bank will distribute customized Apollo Munich Health insurance and personal accident policies to the bank's 20 million customers nationwide. 

SIDBI expert panel sanctions Rs 1,112 cr to funds for startups

An expert committee Venture Capital Investment Committee (VCIC) set up by SIDBI has sanctioned Rs 300 crore to fund managers who would invest in startups, taking the total sanctions so far this fiscal (2017) to over Rs 1,100 crore. During the fiscal year 2014-15 and 2015-16 sanctions were made to 11 funds (Rs 314 crores) and 16 funds (Rs 607 crores) respectively while the number during the current financial year (2017) has already crossed Rs 1,112 crores to 30 funds.

Paytm arm unveils online shopping portal Paytm Mall

Paytm E-Commerce, the online marketplace arm of One97 Communications Pvt. Ltd, launched Paytm Mall, a mobile app and online shopping portal.Paytm Mall is the new avatar of Paytm’s three-year-old e-commerce business. Paytm Mall will allow customers to shop from 68 million products across categories such as fashion, electronics, consumer durables and home furnishings, from about 140,000 sellers.

Tata Communications partners with HPE for roll-out of LoRa network

Tata Communications is partnering with Hewlett Packard Enterprise (HPE) to support the roll-out of the former's Internet of Things platform, the LoRa network.The company will also work with HPE to provide a range of domestic and cross-border IoT connectivity and management services, particularly for applications requiring elements of mobility, such as connected cars, fleet management and transportation services.

Kabir Bedi appointed honourary brand ambassador of Sightsavers

India’s most famous international actors Kabir Bedi was appointed as the honourary brand ambassador of Sightsavers India to prevent avoidable blindness by RN Mohanty, CEO of Sightsavers.

ZTE launches world’s first 5G IT baseband unit (BBU) in partnership with Intel

Chinese multinational telecommunications equipment company ZTE made an announcement that it has launched a next generation 5G IT baseband unit (BBU) partnered with Intel Corporation for this technology. The announcement was made at the  Mobile World Congress (MWC) in Barcelona. 

Former Union Minister P Shiv Shankar Passes Away

Former Union Minister P. Shiv Shankar passed away after a prolonged illness.He was 89 ii. He contested the by-election to the Secunderabad Lok Sabha constituency in 1979 on the Indian National Congress party ticket. He became Law Minister in the Indira Gandhi Cabinet in 1980. From 1985 till 1993, he represented the Congress as Rajya Sabha member from Gujarat.

Kohli named captain of the year at ESPNcricinfo Awards

Indian international cricketer Virat Kohli has named as the ‘Captain of the Year‘ at the 10th annual ESPNcricinfo Awards.Kohli led India to nine wins out of 12 Tests in the year 2016. Stuart Broad bagged the Test Bowling performance of the year for his brilliant spell of 6/17 in the final Test against South Africa.