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Nabard launches Centre for Climate Change

Nabard launches Centre for Climate Change
NABARD has launched a centre for accelerating concerted action on climate change by various stakeholders including government, private and financial sectors. The Centre for Climate Change has been set up in Lucknow. It would also support capacity building and project preparation effort in developing countries in the region as also in Africa.

J K Rowling’s next book ‘Lethal White’

J K Rowling will come out with the fourth novel “Lethal White” in the series about the exploits of private investigator Cormoran Strike under her pseudonym Robert Galbraith. The three previous Strike novels are “The Cuckoo’s Calling” (2013), “The Silkworm” (2014) and “Career of Evil”(2015). J K Rowling is well renowned for her Harry Potter Series.

‘Paudhagiri’ campaign launched in Haryana

Haryana Chief Minister Manohar Lal Khattar launched the ‘Paudhagiri’ campaign, aimed at increasing the green cover in the state. Under this campaign, 22 lakh students from class 6 to 12 of all government and private schools in Haryana will plant a sapling each during three months of monsoon. The student will get Rs 300 per year for 3 years for looking after a sapling planted by him or her.

India becomes 69th shareholder of EBRD

India has been formally announced as the 69th shareholder of the European Bank for Reconstruction and Development (EBRD). India has only taken a shareholding in EBRD but it will not be a recipient of EBRD financing. London-headquartered EBRD is a multilateral development bank set up in 1991 after the fall of the Berlin Wall to promote private & entrepreneurial initiative in emerging Europe.

Institution of eminence status

Prakash Javadekar has released list of 6 institutes, 3 in public & 3 in private sector, which have been accorded the status of Institution of Eminence by the government. In the public sector, IIT Delhi, IIT Bombay & IISc Bangalore have been granted the status. Manipal Academy of Higher Education, BITS Pilani & Jio Institute have been granted institution of eminence tag in the private sector

Private hospitals to provide free treatment

The Supreme Court said all private hospitals in Delhi must provide free treatment to certain percentage of poor patients. Providing treatment to the poor was one of the clauses in the lease deed due to which land was given to hospitals at a very cheap price. The Supreme Court will monitor the functioning of private hospitals to ensure that the poor patients are treated free of cost.

ICICI’s mortgage portfolio crosses 1.5 tn

ICICI Bank has announced that its mortgage loan portfolio crossed the Rs 1.5-trillion milestone. This made it the largest private player in the segment, and the lender is targeting to grow it to Rs 2 trillion by FY20. At Rs 1.5 trillion, the mortgage loan-book is half of the bank’s overall retail loan portfolio of around Rs 3 trillion.

Bank credit rises 3.4% in Dec. 2017 quarter

Bank credit grew 3.4% on a sequential basis in the December 2017 quarter. It was due to better performance by private sector banks and an uptick in industrial credit after two successive quarters of declines, according to the Reserve Bank data. At the end of the December quarter, bank credit stood at ?80.62 trillion compared with ?77.95 trillion in the Sept 2017 quarter as per the RBI data.

India Sixth Wealthiest Country

India is the sixth wealthiest country in the world with a total wealth of US $8,230 billion. The US is the wealthiest country in the world with a total wealth of US $62,584 billion, according to the AfrAsia Bank Global Wealth Migration Review.Total wealth refers to the private wealth held by all the individuals living in each country. It includes all their assets less any liabilities.

TN to build India’s next generation aircraft

The Aeronautical Development Agency has set the ball rolling for building the Advanced Medium Combat Aircraft by extending an invitation to private players in Tamil Nadu (TN). It is the first time an indigenous military aircraft programme is seeing the involvement of private players. It is also the first time a defence plane development project is proposed to be executed outside Bengaluru.

GST Network to be a government body

The GST Council approved a proposal to make the GST Network (GSTN) a government body. The government will acquire the 51% stake held by private entities and subsequently, the Central Government will own 50% in GSTN and states will collectively hold the remaining 50%. Currently, a 49% stake in GSTN is held by the Government.

Axis Bank picks Egon Zehnder to find new CEO

Axis Bank has appointed global recruitment firm Egon Zehnder to find a successor for MD and CEO Shikha Sharma.In December 2017, the bank’s board had approved the reappointment of Ms. Sharma for three years, but early this month she said that she would step down in December 2018. Axis Bank is the third largest private-sector banks in India.

Mario Benitez elected as Paraguay’s president

Conservative former senator Mario Abdo Benítez has been elected as the president of Paraguay.Benitez garnered 46.44% of the vote, compared with 42.74% for his main rival Efrain Alegre. He is the son of the late private secretary of dictator Alfredo Stroessner, who ruled Paraguay for 35 years.

States to allow private licence for taxis

Centre has asked states to allow drivers to use private licence for driving taxis and light vehicles for commercial purposes.However, commercial driving licences would be required for trucks, buses, heavy commercial vehicles and other medium.Exemption from obtaining the endorsement for commercial vehicles would apply to motor cycles and light motor vehicles like taxis, e-rickshaw/e-cart.

SBI India’s most trusted bank

According to the TRA Brand Trust Report 2018, State Bank of India is the most trusted bank (both public and private sector) in the country.SBI topped the chart of BFSI super-category despite seeing a dip in its overall brand trust index rankings from 13th in 2017 to 21st this year. The leader among the private banks is ICICI Bank, rising nine ranks in overall ranking.

Amazon launched ‘Internet’

Amazon has launched an Android web browser app called ‘Internet’ for emerging markets.The browser doesn’t occupy much storage space on a user’s device & does not collect private data like other browsers. The app is only available to users in India for the time being & is supported on devices running Android 5.0 or higher

Facebook introduces new privacy choices

18 : Facebook would begin rolling out changes to how it handles private data this week to comply with forthcoming EU rules.Under the new policy, FB users will be asked to review & make choices about ads they receive, including whether they want Facebook to use data from third parties. FB has recently been rocked by disclosures about hijacking of personal data on tens of millions of its users.

Kotak Mahindra Bank Pips SBI to Become India’s 2nd Most Valuable Bank

Shares of private lender Kotak Mahindra Bank Ltd beat India’s largest lender State Bank of India (SBI) for the first time to become the second most valued bank in the country. Data from BSE showed that Kotak Mahindra Bank has a market capitalization of Rs2,22,560.69 crore after its shares rose 1.7%. SBI market capitalization stood at Rs. 2,22,043.74 crore. Its shares were trading at Rs248.80 on BSE, down 1% from its previous close. Uday Kotak is the Executive Vice Chairman and Managing Director of Kotak Mahindra Bank. Its headquarters in Mumbai. HDFC Bank Ltd is the country’s most valuable bank with a market capitalisation of Rs5.04 trillion.

IndusInd Bank got RBI nod to acquire IL&FS

Private sector lender IndusInd Bank has received RBI’s approval to buy the securities services arm of IL&FS.In March 2017, the bank entered an agreement with Infrastructure Leasing and Financial Services (IL&FS) to acquire 100% stake in ISSL. Infrastructure Leasing and Financial Services (IL&FS) is the promoter shareholder of IL&FS Securities Services Ltd (ISSL).

IndusInd to use WhatsApp for basic services

Private lender IndusInd Bank announced a pilot program with WhatsApp enterprise solution in India to communicate with its customers.The integration with WhatsApp will allow IndusInd Bank to start appearing as a verified account when it communicates with its customers.The initial test phase will allow the bank to communicate important transaction alerts to the customers on WhatsApp.

MoU between Indian Army and HDFC Bank

A Memorandum of Undertaking (MoU) was signed between the Indian Army and HDFC Bank on the Defence Salary Package.The first MoU between HDFC Bank and the Indian Army was signed in 2011 and was renewed on 13 Mar 2015. Indian Army has MoUs on Defence Salary Package with 11 public and private sector banks.

Central task force on AI recommends N-AIM

A central task force on Artificial Intelligence (AI) has suggested creating a National Artificial Intelligence Mission (N-AIM) will serve as a nodal agency for coordinating AI related activities in the country. The task force was set up by the Union Commerce Ministry in August 2017. The task force members include those from government and the private sector.

Karnataka Bank?s all-woman branch

Karnataka Bank opened its first all-woman branch at Bull Temple Road in Bengaluru. This is the 36th branch opened by the Bank during the current financial year 2017-18 and the 800th branch of the bank. Karnataka Bank is a major Private Sector Banking institution headquarted at Mangaluru in Karnataka.

First Tech Meet of Hydrocarbon Vision 2030

The first technology two-day meet under the Hydrocarbon Vision 2030 for Northeast India has begun in Guwahati and deliberate various issues regarding implementation of the document which envisages an investment of ` 1,30,000 crore. The meet is a stepping stone to put the north-east region on top of Indian energy map by utilising its hydrocarbon potential in line with the Hydrocarbon Vision 2030. The experts from different PSUs and private sector oil firms are attending the two-day technology meet. The Technology Meet is an initiative of the sub- committee of the upstream sector led by ONGC and has members from upstream national oil companies as well as private companies.

Parliament passes Indian Medical Council (Amendment Bill), 2016

The Parliament has passed Indian Medical Council (Amendment) Bill, 2016 to conduct of uniform entrance examination for admission to all medical educational institutions. The bill seeks to replace the Indian Medical Council (Amendment) Ordinance, 2016 and its provisions will come into force retrospectively from May 24, 2016. It will be applicable for admission at the undergraduate and the postgraduate level. This provision will be applicable to state government seats in government and private medical institutions.