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.