Prime Minister Modi leaves for China to attend SCO Summit
PM Modi on 8th June left for China on a two-day visit to attend the annual summit of Shanghai Cooperation Organisation in Qingdao, (Chingdao). This is the first summit after India gained full membership of the SCO. PM Modi will put forth India’s Regional and global interests at the multi lateral forum but first on his agenda is a bilateral meeting with President Xi Jinping.
SCO headquarters: Beijing, China
President declares queen pineapple as Tripura’s ‘State Fruit’
President Ram Nath Kovind on 8th June declared Tripura’s queen variety pineapple as state fruit and said its export was a major step in connecting the state with world trade. The state holds good potential in world trade. Export of the pineapple to foreign countries is a major step in connecting with world trade, Kovind said during his address at a reception programme this evening.
Punjab government launches ‘Business First Portal’
The Punjab Government on June 7, 2018 launched a ‘Business First Portal’ to give a big push towards the ease of doing business in the state. The portal was unveiled by the state’s Industry Minister Sunder Sham Arora in Jalandhar, Punjab. While addressing the industrialists present at the launch, the Minister stated that online portal would facilitate the industrialists for regulatory clearances and fiscal approvals and real-time tracking of applications on a common platform.
IndusInd Bank gets RBI nod for setting up arm for BFIL merger
The Reserve Bank has allowed IndusInd Bank to incorporate a wholly-owned subsidiary for the amalgamation of micro-lender Bharat Financial Inclusion (BFIL) with the bank. IndusInd Bank in a filing to BSE said the RBI has, vide a letter dated June 8, 2018, “conveyed its approval for incorporation of a wholly-owned subsidiary of the bank, as part of the amalgamation of BFIL with the bank”.
OVL gets first equity oil from Abu Dhabi field
ONGC Videsh Ltd on 8th June said it has received the first ever equity oil cargo from Abu Dhabi’s Lower Zakum oilfield, where it had recently bought stake. A shipload of Das blend crude oil reached New Mangalore port, the company said in a statement. The Das blend crude oil originates from the Lower Zakum (LZ) oilfield in Abu Dhabi, which currently produces approximately 400,000 barrels per day. An Indian consortium led by OVL, the overseas arm Oil and Natural Gas Corp (ONGC), acquired 10 per cent stake in Lower Zakum Concession.
FDI in India rises to $61.96 billion in 2017-18: Government
Foreign direct investment (FDI) in India increased by about 3 per cent to $61.96 billion in 2017-18 on account of steps taken by the government to improve business climate and liberalised policy norms. FDI inflows stood at $60 billion in the previous fiscal. The figure includes equity inflows, reinvested earnings and other capital.
2.26L shell companies de-registered in FY 17-18: Centre
The Task Force on Shell Companies has deregistered more than 2.26 lakh shell companies from the Registrars of Companies in the financial year 2017-18, the Ministry of Finance said on Friday.The Task Force was set up in February last year by the Prime Minister’s Office under the joint Chairmanship of the Revenue Secretary and Secretary, Ministry of Corporate Affairs (MCA) with a mandate to check in a systematic way, through a coordinated multi-agency approach, the menace of companies indulging in illegal activities including facilitation of tax evasion and commonly referred to as shell companies.
Axis Bank launches Axis Aha! A new chat bot service for its customers
Private sector lender Axis Bank has launched a virtual assistant for customers armed with proprietary artificial intelligence and machine learning algorithms and named it Axis Aha. The chatbot is designed to provide relevant and contextual responses to customer queries and even helps make transactions on the chat window itself. Customers can initiate transactions either through voice or chat, said the bank in a press release.
Sarita Nayyar appointed to WEF Managing Board
The World Economic Forum (WEF) recently said it has appointed Sarita Nayyar to its Managing Board. In addition to her role as the Chief Operating Officer (COO) for the World Economic Forum LLC, Nayyar will help lead the international expansion of the Forum’s centre for the Fourth Industrial Revolution Network.
Harry Kane is the most valuable player of the FIFA World Cup 2018
The lead striker from the English National Team, Harry Kane is named as most valuable player for the upcoming FIFA World Cup, which is set to begin from June 14. Kane managed to beat global icons like Cristiano Ronaldo, Lionel Messi and Neymar to top this list. The CIES Football Observatory used a calculation to estimate the values of each player and the multiple parameters used in the algorithm to determine value includes goals scored, club results, age and league among others to determine the value.
Learn Two a Day:
Nainital lake: Uttarakhand
Bhimtal lake: Uttarakhand