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Union Bank of India, a Public sector lender, reported a Rs.3,370 crore loss in the January-March period of 2018-19 even as the Reserve Bank of India’s (RBI) annual inspection found the lender had under-provided, also known as divergence in banking parlance, in 2017-18.
The divergence is also because of its exposure to troubled infrastructure conglomerate, Infrastructure Leasing and Financial Services (IL&FS), which turned bad. Following the RBI inspection report, the bank had to... Read More
India was unanimously chosen by member countries as next co-chair of Consultative Group (CG) of Global Facility for Disaster Reduction and Recovery (GFDRR) for the fiscal year 2020. This decision was taken during Consultative Group meeting of GFDRR 2019 held from 13 May- 17 May in Geneva, Switzerland. This is the first time that India has been given the opportunity of co-chairing CG meeting of GFDRR.
The Consultative Group meeting held in Geneva was the 6th Session of GPDRR 2019. The CG... Read More
The International Day of Families (IDF) is observed on the 15th of May every year. The Day was proclaimed by the UN General Assembly in 1993. The day reflects the importance the international community attaches to families. It was first observed in 1996.
The International Day provides an opportunity to promote awareness of issues relating to families and to increase knowledge of the social, economic and demographic processes affecting families. On this day, people across the world celebrate... Read More
The Indian government is planning to mandate a quick response (QR) code based payment method option using Unified Payments Interface (UPI) at all shops. The prime idea behind the proposal of mandatory QR code-based payment is to make digital payment more popular and bring a behavioral change in the ecosystem.
The GST council approved the proposal. The move will also provide a GST benefit to both shops and consumers. The govt has for the project roped in National Payments Corporation of India... Read More
China raising tariffs on $60bn of US goods after the latest increase in American tariffs on its exports
The move comes after the United States escalated the bitter trade war with a tariff hike on $200bn of Chinese products.
China will impose tariffs on a total of 5,140 US products from June 1,2019
The US will get back to the right track of bilateral trade and economic consultations and meet with China halfway.
The retaliatory measures were announced about an hour after US President Donald... Read More
Industrial Credit and Investment Corporation of India(ICICI) Bank along with online travel booking portal Goibibo launched co-branded multi-currency card- Goibibo ICICI Bank Travel Card.
Customers can use one card for multiple currencies and enjoy discounts on flights and hotel bookings.
It can be used by anyone who are travelling abroad
The card is accepted across 200 countries and 4.6 merchants globally and can be dealt in 15 currencies.
The joining fee is Rs. 499+ GST and customers can... Read More
Bharti Airtel and the Housing Development Finance Cooperation (HDFC) Life had tied up to offer life cover for customers at a prepaid recharge of Rs 249.
This new Rs 249 prepaid recharge will include 2 GB data, unlimited calls across all the networks and 100 SMS per day with an insurance cover of worth of Rs 4 lakh from HDFC Life.
The recharge validity is for only 28 days.
The insurance cover of Rs 4 lakh will be there with the customers till recharge will active and once validity will over... Read More
Indian Army, Navy and Air Force hold joint exercise Bull Strike at Teressa Island in Andaman and Nicobar.
The objective is to enhance their coordination in dealing with major security challenges which are currently facing the country and also to showcase joint operation capability of the three forces, Indian Army, Navy and Air Force and further enhance operation coordination.
The Total 170 troops from all three services participated and carried out para drop operations in a Combat Free Fall... Read More
The Central Government has extended the ban on the Liberation Tigers of Tamil Eelam (LTTE) for an additional 5 years with immediate effect.
The notification stated that the LTTE’s perpetual violent activities are extremely detrimental to the integrity of our nation.
LTTE has continuously been adopting a vehement anti-nationalist stand and has been posing as a grave threat to Indian’s safety and security.
The Liberation Tigers of Tamil Eelam (founded in May 1976 by... Read More
Digital payments company Paytm, in association with Citibank, launched its first credit card called Paytm First Card.
Paytm First Card comes with unlimited cash back and will be accepted in India as well globally.
The card is issued by Citibank and doesn’t involve any hidden fees or charges.
The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1 crore on Nainital Bank for its failure to fully automate the non-performing asset (NPA) identification process, despite specific directions issued in this regard. The penalty was imposed under the provisions of the Banking Regulation Act, 1949.
This action is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank... Read More
Japan raised a complaint at the World Trade Organization about India’s duties on mobile phones, base stations and routers, and the circuit boards and other components that go into them.
The complaint said that India had sought to foster domestic production by adjusting various taxes including customs duties, especially since it launched the Make in India campaign in September 2014.
It also said that India’s WTO membership terms specified that the... Read More
The Reserve Bank of India has appointed its former Deputy Governor R. Gandhi as an additional director on the board of private sector lender Yes Bank with immediate effect. The appointment is for two years, that is till May 13, 2021.
R. Gandhi’s appointment comes against the backdrop of Yes Bank reported a loss of ₹1,507 cr for March quarter. This appointment will significantly strengthen Yes Bank's Board Composition and the Bank will immensely benefit from R. Gandhi's... Read More
The Defence Research and Development Organisation (DRDO) conducted a successful flight test of ABHYAS, a High-speed Expendable Aerial Target (HEAT) at Balasore, Odisha. It was tracked by various Radars & Electro Optic Systems. The system performance was as per the simulations carried out.
The test proved its performance in fully autonomous waypoint navigation mode, that is, a series of unique abstract GPS points that create artificial airways. It demonstrated the capability of ABHYAS to... Read More
New Zealand to become the world's first country to measure its success based on the well-being of its citizens.
Under the first 'well-being budget' to be presented later this month, the New Zealand government will give special emphasis to mental health.
Notably, Bhutan also measures its citizens' happiness levels while calculating its success.
According to predictions by the International Monetary Fund, the New Zealand economy is expected to grow at around 2.5 %... Read More
Lecanorchis taiwaniana (The parasitic bloom), a type of orchid was accidentally discovered in Assam. This is the first time it is discovered in India. But the orchid species is already known in Japan, Taiwan, and Laos.
The orchid was accidentally discovered in Assam by Jatindra Sarma, Assam's forest officer named. He is also the Member Secretary of State Medicinal Plants Board.
The discovery adds to the orchid wealth of northeast India (NEI). India has about 1,300 species... Read More
GS Lakshmi became the first ever female match referee to be included into the International Cricket Council (ICC)’s International Panel of Match Referees.
Previously in 2008-2009 she officiated her first match in women’s domestic cricket and has also supervised 3 women’s One Day International (ODI) and 3 T20 International matches.
Formation 15 June 1909
Headquarters: Dubai, United Arab Emirates
Membership: 105 members
Official languages:... Read More
The CEAT International Cricket Awards 2019, Indian skipper Virat Kohli bagged the International Cricketer of the Year Award and Smriti Mandhana won International Woman Cricketer of Year Award. Virat Kohli won the Best Batsman Award.
Kohli scored 10,843 runs in the One-Day Internationals (ODI) and 6613 runs in the longest format. Smriti Mandhana has scored 1951 runs in the ODIs and 1298 runs in the shortest format.
The Lifetime Achievement Award was given to Mohinder Amarnath who is the... Read More
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