MP announces outstanding power bill waiver scheme
The Madhya Pradesh government has announced an outstanding power bill waiver scheme for laborers and poor families. The state cabinet headed by Chief Minister Shivraj Singh Chouhan approved the Bijli Bill Mafi Yojana 2018 (Power Bill Waiver Scheme) which is expected to benefit about 77 lakh people of the state. The state cabinet also approved Mukhyamantri Jan Kalyan (Sambal) Yojana 2018 (a scheme to provide subsidized power) for registered laborers of the unorganized sector and Below Poverty Line (BPL) families would be provided electricity at a cost of Rs 200 per month.
Four-year-old Assamese boy named ‘Youngest Author of India’
A four-year-old boy, Ayan Gogoi Gohain hailing from Assam’s North Lakhimpur, has earned the unique achievement of being the ‘Youngest Author of India‘. The wonder kid from Assam has managed to pen a book titled ‘Honeycomb‘, published in January this year.
Bandhan Bank appoints H R Khan as chairman
Bandhan Bank said its board has appointed H R Khan, a former RBI deputy governor, as non-executive chairman. The board of directors of the bank at its meeting held on 5th June appointed Harun Rasid Khan as the non-executive, part-time chairman of the bank, Bandhan Bank said in a filing to BSE. Khan’s appointment will be for a period of three years with effect from June 5, 2018, or till the expiry of his term as an independent director whichever is earlier.
Karur Vysya Bank ties up with Aditya Birla Health as bancassurance channel
Private sector Karur Vysya Bank said it has entered into a bancassurance partnership with Aditya Birla Health to provide insurance services to customers. The lender said it has already partnered with Birla Sunlife Insurance Co Ltd for providing life insurance products to its customers. P R Seshadri is the MD & CEO, Karur Vysya Bank.
YES Bank launches Green Deposit on Environment Day
As a special customer benefit, the Green Future: Deposit can be opened for a tenure of 18 months and 8 days to 18 months and 18 days, with the best-in-class peak interest rate of 7.50% p.a. for regular Green Future: Deposits and 8.00%* p.a. for Senior Citizens. The Green Future: Deposit can only be opened through YES BANK NetBanking and YES Mobile banking application, making the process entirely paperless, thereby helping create a sustainable future.
SEBI puts in place guidelines for preferential issue by InvITs
Markets regulator SEBI put in place a detailed framework for listed Infrastructure Investment Trusts (InvITs) to make a preferential issue of units to institutional investors. SEBI said preferential issues need to be completed within 12 months from the date of passing of the resolution by InvIT’s unitholders. The units in a preferential issue would be offered and allotted to a minimum of two investors and a maximum of 1,000 investors in a financial year. According to Sebi, the gap between the preferential issue of units by InvITs should be six months, and allotment needs to be completed within 12 days.
Saudi Arabia bans produce from Kerala
Saudi Arabia has banned frozen and processed fruit and vegetable imports from Kerala amid concerns over the deadly Nipah virus outbreak. On May 29, the United Arab Emirates (UAE) banned imports from Kerala. The Nipah virus itself can cause encephalitis – a dangerous swelling of the brain – and common symptoms vary from none to elevated fevers, cough, headache, shortness of breath and confusion, the Gulf News reported on 5th June.
Learn Two a Day:
United Nations Environment Programme (UNEP): Nairobi, Kenya
International Court of Justice (ICJ): The Hague, Netherlands