September, 2017

RBI to sell sovereign bonds

Reserve Bank of India would sell govt bonds worth Rs. 10,000 crore through Open Market Operations to mop up liquidity from the system. As part of the OMO, the RBI will sell government securities maturing in 2019, 2021, 2022, 2024, & 2030. Open market operations refer to buying & selling of govt securities in open market in order to expand or contract the amount of money in the banking system.

Saudi Authorises Women to Issue Fatwas

Saudi Arabia women can now issue fatwas after the historic recommendation was approved by 107 votes in the Shoura Council. With this, the 45 years old tradition of only specialist men being able to issue fatwas in the Kingdom ended. The ruling comes just days after Saudi Arabia lifted a ban on women’s driving.

President appoints 5 new Governors

President Kovind has appointed 5 new Governors for the states of Arunachal Pradesh, Bihar, Tamil Nadu, Assam & Meghalaya. BD Mishra was appointed as the Governor of Arunachal Pradesh while Satya Malik & Jagdish Mukhi were appointed as the governors of Bihar & Assam respectively. Banwarilal Purohit was appointed as the Governor of Tamil Nadu while Ganga Prasad was made the governor of Meghalaya

Paper trail machines in all future polls

Election Commission has issued a formal direction to use VVPAT or paper trail machines in all future Lok Sabha & assembly elections. VVPAT is a machine which dispenses a slip with a symbol of the party for which a person has voted for. The slip drops in a box but the voter cannot take it home. Several parties have been pressing for the use of these machines to dispel doubts about EVM tampering.

Govt extends deadline

Govt has extended the deadline to sell pre-GST goods by 3 months till Dec 31 this year. The decision came after companies & CAIT, the retailers body, highlighted that they were still left with huge unsold stocks of pre-GST goods & needed more time to clear that. Under the GST, stocks as on 30th of June with mandatory MRP labeling could be sold only up to Sept 30 by pasting new MRP stickers.

Tata Motors bags order for 10,000 e-cars

Tata Motors has won the first contract to supply electric vehicles to replace petrol & diesel cars used by govt & its departments as part of a plan to cut demand for fossil fuels. First 500 electric vehicles will be supplied to EESL in Nov & the remainder will be delivered in the 2nd phase. Tata Motors will supply the electric version of its Tigor sedan, for which batteries will be imported.

Green Masala Bond in the UK

Indian Renewable Energy Development Agency has launched a new Green Masala Bond on London Stock Exchange’s new International Securities Market to raise funds to finance renewable energy projects across India. The 5 year dated bond raised approximately $300 million, with a coupon of 7.125%. It is the first Green Masala Bond to be listed on the International Securities Market.

Indian football team qualifies for AFC

Indian football team has qualified for AFC U-16 Championship to be held next year in Malaysia after finishing 2nd in their group qualifying round played in Kathmandu. India qualified as one of the six best second-placed teams from the group matches of qualifying round. India defeated Palestine (3-0) and drew against Nepal (2-2) and group toppers Iraq (0-0) to collect 5 points & finished 2nd.

HDFC partners top education institutes

HDFC Bank will be partnering with 50 technology & business schools to tap into emerging fintech ideas. The objective is to identify potential fintech ideas at incubation & entrepreneurship cells in the institutes at a nascent stage & help them evolve into a consumer-ready product. Start-ups will get bank’s platform to test their ideas in real world, in addition to expert insights & knowledge

First Indian woman to scale Mt Manaslu

An Indian Police Service Officer of UP Cadre, Aparna Kumar became the first Indian woman to scale Mount Manaslu, which is the 8th highest mountain peak in the world. Exactly at 10.00 am on September 25, Kumar took up a mission to climb Mount Manaslu in the west-central part of Nepal. She has already successfully scaled the highest peaks of six continents out of seven continents.