Asian Infrastructure Investment Bank (AIIB) concludes its 3rd Annual Meeting in Mumbai
Asian Infrastructure Investment Bank (AIIB) concluded its third Annual Meeting in Mumbai today, on a high note to improve connectivity within the region and in turn enable citizens in the region to reach their potential and enjoy prosperity and security. Earlier in the day, the Prime Minister Shri Narendra Modi called upon the need to deepen India’s engagement with AIIB. In his speech, Prime Minister called upon Asian Infrastructure Investment Bank (AIIB) to increase its lending to US$40 billion by 2020 and US$100 billion by 2025 from US$4 billion now.
Govt debt rises to Rs 76.94 lakh crore in Q4 FY18
Government debt rose 1.7 percent to over Rs 76.94 lakh crore in the January-March period of 2017-18 fiscal over the previous quarter. The debt was Rs 75.66 lakh crore (Rs 75,66,215 crore) as of December 2017, according to the Quarterly Report on Debt Management released.
The parliamentary panel meets heads of 11 PSU banks
The Parliamentary Standing Committee on Tuesday met 11 Public Sector Undertaking (PSU) bank heads to submit a report in Monsoon session of Parliament, as per sources. Sources further said the NPA of state-run banks is more than Rs nine lakh crore. All 11 heads appeared before the Standing Committee on Finance, headed by veteran Congress leader M Veerappa Moily, which is looking into ‘Banking Sector in India- Issues, Challenges, and the Way Forward, including Non- Performing Assets/ Stressed Assets in Banks/Financial Institutions’.
EPFO members can withdraw 75% funds after 30 days of job loss
Retirement fund body EPFO on 26 June decided to give its members an option to withdraw 75 percent of their funds after 1 month of unemployment and keep their PF account with the body. The members would also have an option to withdraw remaining 25 percent of their funds and go for final settlement of account after completion of 2 months of unemployment under the new provision in the Employee Provident Fund Scheme 1952.
RBI slaps Rs. 60 mn fine on TMB
The Reserve Bank of India has slapped a fine of Rs. 60 million on Tamilnad Mercantile Bank Limited (TMB) for contravention of its directive. The RBI said that the TMB had been fined for its lapses in adhering to the master directions issued by it on the issue and pricing of shares.
TMB headquarters: Thoothukudi, Tamil Nadu
Swaraj introduces Passport Seva app
External Affairs Minister Sushma Swaraj launched a Passport Seva app for seamless application and issue of passports. Addressing the officials of several Passport Seva Kendras and members of the Ministry of External Affairs on the occasion of Passport Seva Diwas on Tuesday, Swaraj mentioned that the two new schemes – Passport application from anywhere in India, and filling passport application forms from mobile phones, would make the procedure for obtaining passports simpler.
India hands over HAL Do-228 aircraft to Seychelles
External Affairs Minister Sushma Swaraj on Monday handed over “world-class, state-of-art” second Dornier aircraft HAL Do-228 to Seychelles President Danny Faure, on behalf of India. The second Dornier aircraft was gifted to Seychelles following the announcement by Prime Minister Narendra Modi in 2015 to handover the same.
Seychelles Capital: Victoria
Currency: Seychellois rupee
Brexit Bill becomes law, allowing UK to exit EU
The EU Withdrawal Bill, which is also known as the Brexit Bill, on Tuesday became law after Queen Elizabeth II gave her approval. “I have to notify the House in accordance with the Royal Assent Act 1967 that her Majesty has signified her royal assent to the following acts. European Union Withdrawal Act 2018,” Sputnik International quoted Commons Speaker John Bercow as telling lawmakers, during a session of the house. The UK PM Theresa May called the moment “historic.”
Microsoft, InMobi partner for mktg solutions for enterprises
Tech giant Microsoft and Indian mobile ad tech firm InMobi have joined hands to offer artificial intelligence-powered marketing solutions to enterprises. Under the partnership, InMobi is combining its advertising and marketing cloud capabilities with Microsoft Dynamics 365 on the back of the global Azure (Microsoft’s cloud) infrastructure, including artificial intelligence (AI), machine learning and analytics, InMobi founder and CEO Naveen Tewari told.
Asian Sailing Championship: Indian sailors strike gold
The Indian team of Ganapathy & Varun Thakkar won the gold medal in men’s 49er FX event at the end of the fourth and penultimate day of the Asian Sailing Championship at Jakarta recently. Leading the team, India’s Ekta Yadav & Shaila Charles acquired the second spot in women’s 49er FX section winning a bronze medal for the country.
World Food Prize 2018 shared by an economist and a doctor
The World Food Prize is being awarded this year to two men credited with helping reduce by 10 million the world’s number of children stunted from malnourishment between 2012 and 2017. British economist and food policy researcher Lawrence Haddad and Dr. David Nabarro were named the 2018 winners at the U.S. Department of Agriculture in Washington. Nabarro has worked with the World Health Organization and United Nations on hunger issues. The World Food Prize was created by Nobel Peace Prize laureate Norman Borlaug (Father of Green Revolution in the World) in 1986 to recognize scientists and others who have improved the quality and availability of food.
Learn Two a Day:
Life Insurance Corporation of India (LIC) headquarters: Mumbai
National Insurance Company Limited (NICL) headquarters: Kolkata