August, 2017

Scheduled bank status from RBI

Ujjivan Small Finance Bank, a subsidiary of Ujjivan Financial Services has been given scheduled bank status by RBI. It opens the door for issuing Certificate of Deposits, which will be an important source of funding. This status will enhance market acceptability of the bank in its effort to garner institutional deposits at a competitive price & participate more actively in inter-bank market.

Host city logo for Kochi

Kerala Chief Minister Pinarayi Vijayan launched the host city logo for Kochi, one of the venues of Fifa Under-17 World Cup. The logo represents and reflects Kochi’s identity and will be a valuable tool in linking the local community in a global World Cup. The host city logo will allow all football fans in Kochi to have a local flavour and will be critical in the promotion of the tournament.

Bridgestone India ropes in PV Sindhu

Bridgestone India has announced Olympic silver medallist P V Sindhu as its 1st brand ambassador. As part of the 3-year agreement, Sindhu will be included in Bridgestone’s activations around its Worldwide Olympic Partnership. Sindhu’s journey is an epitome of perseverance & is a setting example to youth to ‘Chase Your Dream’ which echoes with Bridgestone’s global association with Olympic Games

Indian High Commissioner to Cyprus

Former CBI director R K Raghavan has been appointed as the Indian High Commissioner to Cyprus. Raghavan, who was CBI director from Jan 1999 to April 2001, had investigated high profile cases like Priyadarshini Mattoo murder case, 2002 Gujarat riots. Raghavan is a recipient of Indian Police Medal for Meritorious Service and the President’s Police Medal for Distinguished Service.

Government extends OBC creamy layer

Union Cabinet has decided to extend the concept of creamy layer in OBC reservations to PSU & financial institutions. It will ensure children of those serving in lower categories in PSUs & other institutions to get the benefit of OBC reservation at par with children of people serving in lower categories in govt. Candidates whose parents hold constitutional posts or group A & B posts are excluded.

India-Myanmar to sign MoU

India & Myanmar will sign a MoU for conservation of earthquake-damaged pagodas at Bagan during PM Modi’s visit to Myanmar. Began is a renowned tourist attraction of Myanmar & India’s role in rebuilding damaged pagodas will be an opportunity to showcase its expertise in restoration & conservation of monuments. It will further strengthen India’s enduring ties with Myanmar, in culture & religion

Pact on India-Israel tech Fund approved

Cabinet has approved MoU signed b/w India & Israel to set up $40mn fund for industrial research & technological innovation Both the countries will make a contribution of $4mn each for the fund annually for 5 years, which will be governed by a joint board comprising 4 members from each country. Fund is expected to foster & strengthen eco- system of innovation & techno-entrepreneurship in India

Reliance Foundation awarded

Reliance Foundation was awarded the Rashtriya Khel Protsahan Award for its contribution to promotion of sports during the national sports awards ceremony at Rashtrapati Bhawan. Foundation focuses on using sports as a medium to encourage learning & breed leadership among youth in rural areas. The foundation also backs Indian Super League, which has now become India’s premier football tournament.

10th India-EU Counter Terrorism Dialogue

10th India-European Union Counter Terrorism Dialogue was held at New Delhi Both sides strongly condemned terrorism in all its forms & manifestations and underscored the need for deepening cooperation to combat terrorism in a sustained & comprehensive manner Prospects for deepening counter-terrorism cooperation under UN & FATF were emphasized. Next Dialogue will take place in Brussels in 2018

ISRO all set to launch IRNSS-1H

Indian Space Research Organisation is all set to launch PSLV-C39 carrying Indian Regional Navigation Satellite System. The satellite IRNSS-1H is a part of the indigenous navigation system called ‘NavIC,’ that was initially planned to have a constellation of 7 satellites. Like its other IRNSS predecessors, IRNSS-1H also carries 2 types of payloads such as navigation payload & ranging payload.

Government notifies e-way bill

Govt has notified e-way bill keeping some items of mass consumption such as vegetables, fruits, food grains, bread, books & jewellery out of its ambit. It will provide the framework for transport of goods under the GST. E-way bill is required to transport any item worth more than Rs. 50,000 within the country. E-way bill can be generated by registered supplier or recipient or the transporter

PNB cuts MCLR, base rate

Punjab National Bank has cut marginal cost based lending rates by up to 0.25% for select maturities. MCLR, which is changed every month is a uniform methodology which was introduced to ensure fair interest rates to borrowers as well as banks. The bank has also slashed its base rate by 0.20% to 9.15%. Majority of banks follow base rate or minimum lending rate formula to charge interest on loans

Interim CEO of Vedanta

Board of Vedanta Limited has announced the appointment of Kuldip Kaura as the interim chief executive officer from September 1, 2017. This comes as former CEO Tom Albanese steps down on August 31. Kaura has held various senior management & leadership roles with the group for 15 years. Kaura was CEO of Vedanta from 2005 to 2008 & has been president of the office of the group’s chairman since 2016.

Google commits $1 million

Lending a helping hand in flood relief operations in India, Nepal & Bangladesh, Google has committed $1 million to NGOs Goonj & Save the Children. Apart from offering funds to NGOs, Google’s crisis response team has also activated SOS alerts in the 3 countries. These alerts include the latest news about floods, an approximate map of affected area & local updates from Twitter and other resources

Gauba Takes Over as Union Home Secretary

Senior IAS officer Rajiv Gauba took the charge as the new Union Home Secretary for a fixed two-year tenure. Gauba, who succeeded Rajiv Mehrishi, is a 1982-batch IAS officer of the Jharkhand cadre. Gauba has been serving as the Officer on Special Duty in the Home Ministry. In the past, Gauba has also represented India on the board of International Monetary Fund for four years.

Single-engine fighter jets in India

Sweden’s Saab will tie up with India’s Adani Group to bid for a contract to make fighter air crafts in India. The partnership will compete with Lockheed Martin in a 2 horse-race to equip Indian military with single-engine jets to be produced locally under “Make-in-India” initiative. Lockheed has already picked India’s Tata Advanced Systems as its local partner to produce its F-16 fighter planes.

Genomeceuticals Products in India

Unicity has launched world’s 1st ever Genomeceutical (gene controlling) range of products to India. Genomeceutical is a ground-breaking technology whereby certain secondary metabolites found in nature can help maintain gene response whenever needed by the body & help maintain overall metabolic health Unicity is currently researching an extensive range of products by leveraging this technology

Mahabaleshwar receives Saraswati Samman

The prestigious literary award, the Saraswati Samman for 2016 was awarded to Konkani writer Mahabaleshwar Sail. He was awarded for his novel “Hawthan” that captures the lives of the potter community in Goa. Sail reflected on how Konkani language and literature had been subdued and how it took a resurgence after Goa’s independence to give the language its rightful place.

Ola partners with Indus OS

Homegrown smartphone operating system company Indus OS has partnered Ola to integrate the latter’s cab aggregator app on its platform. The move will provide Ola access to over 8 million users of Indus OS across handset brands like Micromax, Intex and Karbonn. Integration will also make Ola available in English and 12 regional languages.

Govt defers BSNL stake sale

31 : The govt has deferred a decision on selling a stake in BSNL amid turmoil in the telecom sector triggered by Reliance Jio’s entry. The firm has lost about $7bn in last 8 years, making it country’s biggest loss-making state-run company after Air India. Once India’s largest telecoms company, the number of BSNL landline subscribers has fallen by 8 million in the last five years to 25 million.

Mustafa takes charge as SIDBI chairman

Mohammad Mustafa has assumed office as the chairman and managing director of Small Industries Development Bank of India. Prior to this, Mustafa was working as the joint secretary in the department of financial services at the Centre. SIDBI is an independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises in India.

Paytm rebrands Postcard service

Paytm has rebranded its Postcard feature as Lifafa following its feud with India Post. This comes soon after India Post (government-operated postal system) sent a notice to Paytm that it had the sole right to use the word ‘postcard’ under the IPO Act. Lifafa is a digital version of gifting money on festive occasions. It follows Chinese tradition of gifting money in red envelopes (hong bao).

Indian Boy gets top score in Mensa IQ

A 13-year-old Indian-origin boy, Dhruv Garg in the UK has got the highest possible score of 162 on a Mensa IQ test. This score qualifies him amongst the rare one per cent of the population who take the Mensa exam worldwide in both the exams. He also scored the highest mark in the second test, known as the Culture Fair scale, getting 152.

Puneet Chhatwal as MD, CEO

Tata group hospitality firm Indian Hotels Company has appointed Deutsche Hospitality chief executive Puneet Chhatwal as its managing director and CEO. He will take over from incumbent Rakesh Sarna, who is stepping down on 30 September. Chhatwal is currently chief executive and member of executive board of Deutsche Hospitality/Steinberger Hotels AG.

Rajnath Singh Inaugurates YUVA

Union Home Minister Rajnath Singh inaugurated the YUVA – a skill development programme and an initiative by Delhi Police under Pradhan Mantri Kaushal Vikas Yojana. YUVA aims to connect with youth by upgrading their skill as per their competencies. Delhi Police has tied up with NSDC and CII for providing mass job linked skill training for the selected youth.

PM Modi inaugurates hanging bridge

Prime Minister Modi dedicated a hanging bridge built across the Chambal river at Kota to the nation. The bridge took 10 years to meet its completion at a cost of over Rs. 200 crore. Cables of the bridge are aerodynamic giving them the ability to be neutral in stormy winds. The bridge is a part of the East West Corridor of Golden Quadrangle Project of National Highways Authority of India.

GST earnings cross target

India’s maiden GST collections hit Rs. 92,283 crore in July, surpassing the target. The tax mobilisation so far is from 64.4% of the 59.57 lakh taxpayers registered with the new Goods and Services Tax and the number is likely to go up. Of the tax collected, Rs. 14,894 crore have come in as Central GST, Rs. 22,722 crore as State GST and Rs. 47,469 crore as Integrated GST.

Centre clears 100% strategic sale of CEL

The Centre has approved a 100% strategic sale along with the transfer of management control of Central Electronics Ltd. Incorporated in 1974, CEL is under the administrative control of Ministry of Science and Technology. CEL is a pioneer in India in the areas of solar photovoltaics ferrites and piezo ceramics and among the top producers of single crystalline silicon solar cells in the world.

Free insurance for drivers in India

Global ride-hailing firm Uber Technologies will give free insurance to its 450,000 driver partners in India. Insurance will cover death, disability or hospitalization in case of an accident while using the Uber App. For this insurance programme Uber has tied up with ICICI Lombard, it will provide cover ranging from Rs. 5 lakhs in case of death to Rs. 50,000 rupees for outpatient treatment

No interview in government jobs

Uttar Pradesh Govt has decided to end the process of holding interview for selection of candidates for the govt jobs in all the non-gazetted posts of Group B, C, and D categories. This new rule will not be binding on the ongoing recruitment for Class II officers. The decision was taken at a cabinet meeting chaired by Chief Minister Yogi Adityanath.

Jammu gets Rs. 200 crore funds

Over Rs. 200 crore funds have been allocated for Jammu under the Atal Mission for Rejuvenation and Urban Transformation. Several major towns of the state would also be covered under the AMRUT programme so that they are replete with all modern facilities of urban living. Funds have been allocated for development of various sectors like urban transport, green spaces, drainage, and sewerage.

Niti Aayog awards 12 women

Union minister Smriti Irani & Niti Aayog Vice Chairman Arvind Panagariya awarded 12 women to recognise the trans-formational impact of work undertaken by them across India’s villages, towns & cities. ‘Women Transforming India Awards’ was launched by Niti Aayog last year in partnership with UN in India & MyGov. The awardees included Sunita Kamble, Raji Borthakur, Safeena Husain & Arunima Sinha

NTPC signs Rs. 3,000 crore term loan

NTPC has signed a term loan agreement for Rs. 3,000 crore with ICICI Bank for partially funding its capital expenditure. The loan which has a door-to-door tenure of 15 years will be utilised to part finance the capital expenditure of NTPC. NTPC commissioned 3,845 MW capacity and added 2,190 MW to its commercial capacity during 2016-17.

Freyr Energy ties up with Axis Bank

Solar energy services company Freyr Energy has tied up with Axis Bank to offer term loans for solar rooftop installations in Telangana and Andhra Pradesh. Axis Bank will offer term loans ranging from Rs. 5 lakh to Rs. 50 lakh for tenures up to five years. The loans will be given to MSMEs and self-employed individuals to install Freyr rooftop solar plants for industrial and commercial purposes.

CHOICE launches ‘PoS’ product

Canara HSBC Oriental Bank of Commerce Life Insurance Company (CHOICE) has come up with a ‘Point-of-Sale’ product targeted at the mass-market segment. The product ‘PoS – Easy Bima Plan’ is the first PoS product for the company and is a pure term insurance plan. It not only gives life cover but also returns all premiums paid during the payment term on survival till maturity.

Bank of America’s top shareholder

Warren Buffett’s Berkshire Hathaway has become Bank of America Corp’s largest shareholder by exercising its right to acquire 700 million shares at a steep discount. Berkshire exercised warrants to acquire its shares for roughly $7.14 each Berkshire is now the largest shareholder in the 2nd- and 3rd-largest U.S. banks, with stakes of roughly 6.6% in Bank of America &10% in Wells Fargo & Co.

Hercules training centre

Mahindra Defence Systems in association with Lockheed Martin has opened the C-130J Super Hercules simulator training center at Hindon Air Force station. It will train air crew who operate the C-130J special operations aircraft acquired from Lockheed Martin in 2011. The center will deliver qualitative and quantitative training to hone the tactical and operational skills of the C-130J pilots

YouTube changes its logo

Google-owned YouTube has refreshed its iconic logo, Unlike minor tweaks, this is the biggest change the YouTube logo has received over the years. It is for the first time that YouTube has changed its logo after it was launched 12 years ago. Google says the change allows the YouTube logo to work better “across a variety of devices, even on smallest of screens”.

99% of demonetised notes back

RBI has revealed in its annual report that Rs. 15.28 lakh crore or 99% of the Rs. 15.44-lakh-crore scrapped currency notes, had come back to central bank between demonetisation decision & June 30, 2017. About 89 million units of the demonetised Rs. 1,000 notes worth Rs. 8,900 cr had not come back into the system. The share of the newly introduced Rs. 2,000 notes at March-end was a little more than 50%.

NDB approves $1.4 bn loan

30 : Ahead of the BRICS summit, New Development Bank approved $1.4 billion loans for sustainable development projects in China, India & Russia. For India, Bank has approved $470 million loans for Madhya Pradesh’s Multi-Village Rural Drinking Water Supply Scheme Project. Board of Directors of the Bank have approved four infrastructure and sustainable development projects in the three countries.

Toughest law against plastic bags

Kenya has imposed world’s toughest laws to reduce plastic pollution, with people selling or using plastic bags at risk of up to 4 years in prison & fines of up to 4m Kenyan shillings. With this move, Kenya joins 40 other countries that have banned, partly banned or taxed single use plastic bags, including China, France & Italy. It took Kenya 3 attempts over 10 years to finally pass the ban.

Twitter launches education program

Twitter has launched a media agency program named #TweetToTheTop, dedicated to young media executives. 11 agencies from global media & advertising networks would participate in the initiative in 5 nations of Asia Pacific – India, Singapore, Indonesia, Philippines & Australia. Media professionals will get exclusive access to Twitter’s arsenal of solutions & global advertising tech leaders.

Winner of Miss Transqueen India 2017

Nitasha Biswas, a trans woman who hails from Kolkata, was crowned Miss Trans Queen India 2017, winner of the first beauty pageant for trans women in the country. Loiloi Haorongbam from Manipur became the 1st runner-up, while Ragasiya from Tamil Nadu, was the 2nd runner-up. Nitasha will now represent India at the Miss International TransQueen in Thailand in March 2018.

Modi to attend BRICS summit in China

Prime Minister Narendra Modi will travel to Xiamen in China to attend the BRICS summit which will be held from September 3-5. The announcement comes a day after India and China ended their 73-day standoff in Dokalam by withdrawing their troops from the area. Modi will also travel to Myanmar for a state visit, It will be Modi’s first bilateral state visit to Myanmar.

Synergy Conference on Defence Pension

The Defence Accounts Department, DAD organised its first Synergy Conference on Defence Pensions in New Delhi. The objective of the conference was to obtain feedback from the pensioners that would help the department to serve them better with constantly improving systems and procedures. Digitization of pension data and implementation of a pensionsapp were also discussed in detail.

National Sports Day

National Sports Day in India is celebrated on August 29, the birthday of Dhyan Chand, one of the greatest field hockey players of all time. On this occasion, President Kovind will give away the Sports Awards. Known as ‘The Wizard’ in the world of hockey, Dhyan Chand scored more than 400 goals during his international career & earned 3 gold medals for India during 1928, 1932 & 1936 Olympics.

Pan India camps

Ministry of Textiles has decided to organize Pan India camps in handlooms and handicrafts clusters, under the initiative -Hastkala Sahyog Shivir. This initiative is dedicated to Pandit Deendayal Upadhyay Garib Kalyan Varsh, the birth centenary year of Pandit Deendayal Upadhyay. The camps will be organized during 7th to 17th of October this year.

Sunil Sanghai resigns

HSBC India’s vice chairman and investment banking head Sunil Sanghai quit British banking giant. Sanghai has joined hands with the Dinesh Kanabar-promoted tax & regulatory firm Dhruva Advisors to start a merchant banking division. Before joining HSBC, Sanghai worked as Goldman Sachs’ managing director & co- head of investment banking & also has had stints with Morgan Stanley & JM Financial.

Partnership to fight cyber wars

Bharti Airtel has entered into a partnership with Symantec Corporation to protect businesses in India from online threats. Through the partnership, the 2 companies will target IT security requirements of large enterprises, small & medium businesses, as well as the govt. The partnership comes amid a spike in cyber attacks over the past few months, including ransomware such as Petya & WannaCry.

Pact to improve grid integration

India & Germany has signed an agreement on technical cooperation under the Indo-German Energy Program, Green Energy Corridors. The main objective of this programme component is to improve the sector framework and conditions for grid integration of renewable energy. The two countries began collaboration on the Green Energy Corridors in 2013 following Indo-German Consultations held in Berlin.

Uber introduces 2 new features

Ridesharing app Uber has announced a phased rollout of two new features, namely ‘In-app chat’ and ‘multi-destination’. The in-app chat feature aims to help riders and driver partners get in touch with one another to provide information such as their exact location. The multi-destination feature enables riders to add multiple stops along their route.

First derivatives contract in diamonds

Anil Ambani Group-anchored Indian Commodity Exchange has become the world’s 1st derivatives exchange to launch diamond futures contract. The diamond contracts initially will be in size of 1 karat with compulsory delivery. It likely to create a new market for diamond industry players where sellers can deliver their certified quality diamonds to a different set of buyers from across the country.

Ocean forecasting system unveiled

Indian National Centre for Ocean Information Services inaugurated Ocean Forecasting System for Comoros, Madagascar & Mozambique. It was unveiled at 3rd Ministerial Meeting of Regional Integrated Multi-Hazard Early Warning System for Asia & Africa. The system would offer oil spill advisory services, port warnings, forecast along the ship routes in addition to tsunami and storm surge warnings.

Mandarin made a must for ITBP

Following Doklam standoff, Indo Tibetan Border Police has decided to make it compulsory for new recruits to learn Chinese language — both Mandarin & version of the language that is spoken in Tibet. Good knowledge of Chinese language will help in avoiding misunder-standings & lead to better resolution of confrontations. Currently, about 150 officers & men in ITBP know the language.

Programme to provide technical skills

As many as 60,000 govt high school students in Kerala will be taught animation, electronic, hardware & cyber-safety under the ‘Hi School Kuttikootam’ program Organised by state Kerala Infrastructure & Technology for Education, it aims at empowering students in these fields by giving them regular training. As many as 1 million students would be directly benefited immediately by this training

FDI consolidated policy includes startup

India unveiled a new FDI policy framework that for the first time comprises provisions specific to startups. The policy lists startups as a separate section and spells out provisions that allow them to raise foreign money from venture capital funds. Startups will have to take requisite govt approval in sectors where FDI is not under automatic route to issue convertible notes.

France holds migration summit

European leaders will meet their counterparts from Niger, Chad, and Libya in Paris to discuss ways of stemming economic migration. Getting Europe’s migrant crisis under control will be the main focus of a summit. European countries are at loggerheads over how to deal with the arrival of hundreds of thousands of people fleeing war, poverty and political upheaval in Middle East & Africa.

Most positive influence on global affair

India is ranked seventh in the world in a survey of countries that have a positive influence on global affairs. Canada is ranked first, with a whopping 81% believing influences the world positively while Israel and Iran stood at the bottom of the ranking. UN dropped nine points from last year to fourth place on the list. According to the survey, China has a better influence on the world than the US.

Atomic Fuel Reserve in Kazakhstan

International Atomic Energy Agency’s Low Enriched Uranium Bank is all set to open this week in Kazakhstan. The reserve is a “mechanism of last resort” for situations in which a UN member nation cannot access fuel by the usual means. The reserve will store 90 tons of low-enriched uranium, the essential ingredient needed to make the fuel for light-water nuclear reactors.

Ease of Doing Business report

29 : NITI Aayog launched Ease of Doing Business report based on an Enterprise Survey of 3,500 manufacturing firms across Indian states & UT’s. Survey has conducted along with IDFC Institute, to assess business regulations & enabling environment across India from firms’ perspective. Enterprise Survey was conducted in recognition of the importance of monitoring the business environment in India.

Cristiano Ronaldo wins award

28 : Real Madrid and Portugal forward Cristiano Ronaldo and Barcelona’s Lieke Martens were named the UEFA Players of the Year 2017. Lieke Martens was named UEFA Women’s Player of the Year after leading the Netherlands to the 2017 Women’s Euro title this summer on home soil. The awards ceremony was held in Monaco

Indian Ocean Conference

External Affairs Minister Sushma Swaraj will travel to Colombo to participate in the two-day Indian Ocean Conference to be held from August 31. It will see participation from around 35 countries and have speakers from 25 countries. The theme of the conference is peace, progress and prosperity. This will be second IOC conference. The first was held in Singapore last year.

Lewis Hamilton wins Belgian GP

Lewis Hamilton defeated Formula 1 title rival Sebastian Vettel in the Belgian Grand Prix to close the gap in the championship to seven points. This was Hamilton’s fifth success in 12 races this season, and 58th of his career. Sebastian Vettel finished second for Ferrari, 2.3 seconds behind Hamilton while Daniel Ricciardo took third place for Red Bull.

First player to score 350 La Liga goals

Barcelona star Lionel Messi became the first player to pass 350 goals in La Liga with a double for Barcelona in the 2-0 win against Alaves. He is only the second player in European football to reach the 350-goal mark. He has 66 more than Real Madrid’s Cristiano Ronaldo, his closest challenger in the all-time list.

IRDAI launches central database

Insurance Regulatory & Development Authority of India has launched a Central Database of all Insurance Sales Persons in the country. Envoy, the database will ensure that all licensed insurance sales persons working for insurers & intermediaries do not work with multiple insurers & intermediaries in same business category. The Insurance Information Bureau of India hosts the central database.

India bans sodium nitrite from China

The Finance Ministry has imposed a five year anti-dumping duty on Sodium Nitrite imports from China. It was imposed based on recommendations of Directorate General of Antidumping and Allied Duties. Sodium Nitrite is an oxidising and also a reducing agent. It is a white crystalline powder mostly used in the pharmaceutical and dye industries.

A snappy kidney function test

The Indian Institutes of Technology, Bombay and Indore, have jointly developed a biosensor that makes it possible to detect kidney disorders in less than eight minutes. The biosensor can accurately measure both the pH and urea concentration with a single drop of urine. The sensor has been developed by Rashmi Chaudhari, Abhijeet Joshi, and Rohit Srivastava.

56th annual aerospace conference

The 56th annual three-day conference of the Indian Society of Aerospace Medicine is being held in Bengaluru. It is being held at the Institute of Aerospace Medicine on Old Airport Road. The Conference is being attended by service delegates, civilian delegates and foreign delegates with 15 scientific sessions.

A new score in waste management

Scientists from CSIR’s National Institute for Interdisciplinary Science and Technology, Thiruvananthapuram have been able to turn waste into wealth. They have produced ethanol from discarded cotton-stalks by using a combination of chemical and biological techniques. The results were published in Bioresource Technology.

PV Sindhu wins silver

PV Sindhu won the silver medal at the 2017 World Championship. She was defeated by Nozomi Okuhara of Japan. Nozomi became the first Japanese women’s singles champion while Sindhu is the second Indian after Saina to secure silver. The summit clash lasted an unbelievable and incredible one hour and 50 minutes.

BEML’s metro manufacturing facility

Defence Minister Arun Jaitley launched BEML’s third Line ultra modern metro manufacturing facility in Bengaluru. BEML had forayed into manufacturing and supply of hi-tech metro cars during 2002 and as a leading rolling stock supplier has so far supplied over 1000 metro cars to Delhi, Bengaluru and Jaipur Metro Corporations. The contract is scheduled to be completed by December 2018.

Dipak Misra sworn in as CJI

Justice Dipak Misra was sworn in as the 45th Chief Justice of India. He is succeeding Justice JS Khehar, who retired as CJI on August 27. Chief Justice Misra will retire on October 2, 2018. He was administered the oath of office by President Ram Nath Kovind

Uber chooses new CEO

Uber has chosen Expedia CEO Dara Khosrowshahi as its new CEO. The embattled ride-hailing startup has been without a CEO since founder and former CEO Travis Kalanick resigned in June. Khosrowshahi was not among those reported to have been in the running. The short list included Jeff Immelt, the former CEO of General Electric, and Meg Whitman, the head of Hewlett Packard Enterprise.

India, China agree to withdraw troops

China and India have agreed to end a lengthy stand-off at the Sikkim border that began in June. The decision to disengage their troops comes ahead of a crucial BRICS summit being hosted by China in September, which Prime Minister Narendra Modi is expected to attend. In June 2017, Indian troops stopped China’s People’s Liberation Army from constructing a road on the Doklam plateau.

Ahmed Khan passes away

Ahmed Khan, a member of India’s gold winning football team at the first Asian Games in 1951 passed away at the age of 91 after prolonged illness. A prolific striker, Khan represented India in two Olympic Games – in 1948 and in 1952. Khan, who played as a striker, represented India in 11 matches and made his debut against France in the London Olympics. He was known as East Bengal legend.

World Badminton Championships 2017

Denmark’s Viktor Axelsen defeated Lin Dan in straight games to claim the men’s singles gold at the World Championships in Glasgow. Axelsen is the third Dane to claim the men’s singles crown. Flemming Delfs won the inaugural 1977 title and Peter Rasmussen was a winner, also in Glasgow, 20 years ago.

Arun Jaitley hands over missile to Navy

Defence Minister Arun Jaitley handed over the Long-Range Surface-to-Air Missile jointly developed by India and Israel, to the Indian Navy, at Bharat Dynamics Ltd here. LRSAM is an advanced combat suit for missile defence against air targets and missiles. Public sector BDL is the missile production agency for the three armed forces.

India lift SAFF Under-15 Championship

Lalrokima and Vikram struck in the second half to guide India to SAFF Under-15 Championship title win as India beat Nepal. The India team, which had players from AIFF’s Regional Academy, trailed by a goal at the interval but Lalrokima and Vikram’s timely strikes saved the day for India. The match was held in Kathmandu.

Managing Off-Shore Funds

Central Board of Direct Taxes has recently notified the revised rules for a safe harbour regime. The government and CBDT have taken steps in the past for making India a tax-certain jurisdiction and creating a positive business climate. Safe harbour provisions were introduced under the Income-tax Act, 1961 by the Finance Act, 2015.

Tobe Hooper passes away

Tobe Hooper, best known for his work in the horror film genre, passed away at the age of 74. He rose to prominence after his 1974 fantasy thriller “The Texas Chainsaw Massacre.” He continued working in television and film throughout the 1990s and 2000s. He made his directorial debut with the movie, “Eggshells” in 1969.

Saina Nehwal settles for bronze

Saina Nehwal had to settle for a bronze medal at the World Badminton Championships after a heartbreaking loss against Nozomi Okuhara of Japan in women’s singles semi-finals. The 7th seed Japanese eked out a hard-fought 12-21, 21-17, 21-10 victory & became the 1st shuttler from Japan to reach the finals of World Championship. Saina won a silver in the last edition in Jakarta 2 years ago.

Manufacture of light combat helicopter

Defence Minister Arun Jaitley announced the launch of production of Hindustan Aeronautics Limited designed 5.8-tonne category Light Combat Helicopter in Bengaluru. HAL has custom-designed the LCH to provide fire support to the army at mountainous deployment areas on northern borders. Jaitley also dedicated the company’s role changer design upgrade programme of Hawk-I to the nation.

Rural Games to take place in New Delhi

Minister of Youth Affairs & Sports Vijay Goel announced the first edition of Rural Games or Grameen Khel Mahotsav, which will kick-start on August 28 in the national capital. It aims at popularising the indigenous games like wrestling & athletics. Grameen Marathon organised by Sports Ministry marked the beginning of Rural Games fever with the participation of over 16,000 youth from rural Delhi.

Canada to allow gender-neutral passports

Canadian citizens who do not identify as male or female will soon be able to mark “X” on their passports and other identity documents. The step has been taken so that Canadians are able to better reflect their gender identity. This measure will advance equality for all Canadian citizens irrespective of their gender identity and expression.

Foreign and Security Policy talks

The 5th round of Foreign and Security Policy Consultations between India and the European Union was held in New Delhi. The 2 sides reviewed the entire gamut of India-EU Strategic Partnership and discussed ways to further deepen cooperation in political, economic & security areas. EU is one of India’s largest trading partners with bilateral trade in goods standing at USD 85 billion in 2016.

IAF Deploys Hercules Strategic Aircraft

Indian Air Force installed 6 C-130J Super Hercules strategic aircraft in its Arjan Singh base in Panagarh, West Bengal. Arjan Singh is the 2nd base in the country to have a fat fleet of Hercules aircraft after Hindon Air Force base in Ghaziabad, Uttar Pradesh. C-130J Super Hercules can carry 64 airborne troops with equipment and can also be used to carry 6 pallets or a few armored vehicles.

World Book Fair to begin in Dehradun

The World Book Fair 2017 will begin in Dehradun from August 28, with the state government offering discounts on books based on the lives of national figures. The fair is being organised with the primary aim of inculcating a habit of reading among students. The theme of the world book fair would be ‘Padega Uttarakhand, Badega Uttarakhand’. The fair organised by the National Book Trust.

Data privacy in household finance

A RBI has said, there is a need to adopt a rights-based privacy framework in household finance rather than consent-based approach. The panel was set up following discussions in a sub-committee of Financial Stability & Development Council on April 26 last year. The new privacy framework should contemplate the creation of a Data Commissioner who shall be responsible for redress of grievances.

Eronet to be launched in Assam

‘Eronet’, a new portal/software introduced in some states by Election Commission will be launched in Assam on August 28. Eronet facilitates various activities relating to electoral roll such as inclusion & deletion of names, name corrections. General voters may apply online for facilitation of various activities relating to electoral roll through already in-use portal and Eronet.

Social secretary to President Kovind

Senior diplomat Randhir Kumar Jaiswal was appointed as the social secretary to President Ram Nath Kovind. The Appointments Committee of Cabinet approved his appointment as Social Secretary to the President, on deputation basis, initially for a period of 2 years or until further orders, whichever is earlier. Jaiswal is a 1998-batch officer of the Indian Foreign Service.

Ban on transgender military recruits

President Trump has signed a memorandum that directs US military to not accept transgender individuals as recruits. It also halts use of govt funds for sex-reassignment surgeries for active personnel unless the process is already under way. Announcement reversed a policy shift started under his predecessor, President Obama. There are about 15,000 transgender people serving in US military.

EESL to procure 50 lakh Smart Meters

A Pre-Bid Meeting was held by EESL for procurement of 50 lakh smart meters. EESL will be making the entire upfront investment as well as maintain the whole infrastructure for next 10 years. Smart Meters are being procured for Smart Grid projects in Haryana & UP. These meters would help in reducing Commercial losses, power theft and also help in monitoring of round the clock power supply.

50 new green-fuel stations in 3 years

Gurugram district administration has decided to sanction 50 new green-fuel stations in Millennium City in next 3 years to control rising air pollution. The initiative has been taken after considering that the city has several factories & industries. The Haryana City Gas Distribution, an authorised dealer to sell CNG in Gurgaon, has been given the responsibility to construct the 50 stations.

Boost to Army’s air power

Indian Army will finally get an advanced medium-range surface to air missile system by 2020 which will be able to shoot down ballistic missiles, fighter jets & attack helicopters from a range of around 70 km. The missile system will be produced by DRDO in collaboration with the Israel Aerospace Industries. The current version of MRSAM is operational with the Indian Air Force and the Navy.

Pogba wins Player of the Season award

Manchester United midfielder Paul Pogba has been named the Europa League Player of the Season for 2016-17. Pogba was part of the United side that won the Europa League for the first time in the club’s history with a 2-0 win over Ajax in May. United colleagues Henrikh Mkhitaryan and Zlatan Ibrahimovic were also shortlisted for the award but Pogba came out on top.

Changes in Banking Regulation Act

The govt has notified Banking Regulation (Amendment) Act under which it can authorise the RBI to issue directions to banks to initiate insolvency resolution process to recover bad loans. Under the Banking Regulation Act, 2017, RBI can issue directions to banks for resolution of stressed assets. RBI can also specify authorities or committees to advise banks on the resolution of stressed assets.

100 villages for digital banking

Vijaya Bank has launched ‘100 Digital Villages’ initiative in an effort to bring residents of these villages under the formal banking system. The 100 villages were chosen from among 15 states across the country. Through its initiative, the bank has now reached out to more than 2.35 lakh customers, all of whom will have access to digital banking through debit cards.

5-year term for Chauhan as CEO

BSE’s board has approved another 5-year term for its chief Ashish Chauhan. Chauhan, who joined BSE as Deputy CEO in 2009 was made MD & CEO for 5 years with effect from Nov 2, 2012. Under his leadership, BSE also set up country’s 1st international exchange, India International Exchange. Chauhan also happens to be one of the founding team members of NSE where he worked from 1992 to 2000.

Mayweather knocks out McGregor

27 : Floyd Mayweather defeated Conor McGregor by way of technical knockout in the 10th round of the mega fight to keep his perfect record intact. Mayweather, who came out of a 2-year retirement for the bout, now takes his professional boxing career’s record to 50-0 surpassing Rocky Marciano’s 49-0 record for most wins without a loss or draw. After the win, Mayweather promptly announced his retirement.

International Military Music Festival

A Tri-Services band from Indian Armed Forces has been invited to perform in International Military Music Festival in Moscow. International Military Music Festival Spasskaya Tower is the parade of best military music bands of Russia & other countries that take place every year at Red Square in Moscow. Participation of Tri- Services Band would foster better ties between Armed Forces of 2 countries