Digital payments: MeitY teams up with CAIT to train retail merchants

The Ministry of Electronics and Information Technology (MeitY) has decided to team-up with Confederation of All India Traders (CAIT) to further promote digital payments among the retail community. As many as 1 crore shopkeepers in about 1,000 towns of the country will be trained on digital payments under a memorandum of understanding (MoU) between MeitY and CAIT.

British-Indian professor knighted

Shankar Balasubramanian, an Indian-origin British professor of chemistry, has received a Knighthood from Queen Elizabeth II for his contribution in the field of Science & Medicine. Balasubramanian, 50, Herchel Smith Professor of Medicinal Chemistry at Cambridge University, has been recognised for his work as a co-inventor of Next Generation DNA sequencing, described as the most transformational advance in biology and medicine for decade. Know More A “knighthood” is a title that is given to a man by a British king or queen for his achievements or his service to his country. A man who has been given a knighthood can put 'Sir' in front of his name instead of 'Mr'.

Lakshmi Vilas Bank launches QIP to raise Rs 600 crore

Private sector Lakshmi Vilas Bank launched Qualified Institutional Placement (QIP) to raise over Rs 599.88 crore by issuing 4.25 crore shares in domestic or international markets. In May 2016, the bank had informed that it will raise funds in one or more public or private offerings in domestic and/or international markets, either in the form of QIP or Qualified Institutional Buyers (QIBs). Besides, the bank said that the funds could also be raised by issuing equity shares through depository receipts, including global depository receipts (GDR) or American Depository Receipts (ADR) or even through foreign currency convertible bonds (FCCBs). Deciphering facts QIP or Qualified Institutional Plac

Decide on safety sealing in six months: HC to Centre

The Bombay High Court recently gave the Union government six months’ time to take a decision on making safety sealing mandatory for healthcare and hygiene products. A Division Bench of Justices Shantanu S. Kemkar and P. D. Naik passed the directive while hearing a public interest litigation (PIL) filed by Advocate Geetanjali Tapan Dutta. The PIL is about pilferage of cosmetics, child care, healthcare and hygiene products. The PIL states that while in transit from manufacturer to consumer, there is a possibility of contamination and adulteration of the products due to the absence of a seal. But there are no mandatory provisions to put the seal. Deciphering facts PIL - Public interest litigati

India’s cast iron exports under EU scanner

India’s exports of certain iron items to the European Union (EU) and shipments of ferro alloys to South Korea have come under the scanner of local authorities in those jurisdictions. The European Commission (EC) has initiated an investigation into certain items of grey iron and ductile cast iron from India on allegations that they are being ‘dumped’ (or sold below the price charged in the home market or below production cost) into the EU region. Meanwhile, South Korean authorities have decided to initiate investigation into dumping of ferro-silico-managese (used in the steel industry) from India, Vietnam and Ukraine into South Korea thereby allegedly causing injury to their domestic industry

World Bhojpuri Confrence in Varanasi

‘World Bhojpuri Conference’ was held from 29 December 2016 till January 1 2017, in which participants from over 18 countries participated in Badalalpur. The conference was an effort to strengthen the links of people of Indian-origin, who once belonged to the Bhojpuri-speaking belt in India and had migrated to different parts of the world. During the conference, a ‘Bhojpuri Ratna’ award and ‘World Bhojpuri Karmayogi’ award were conferred on over 25 people.

Bipin Rawat takes charge as Army Chief, Birender Singh becomes Air Force Chief

Lt General Bipin Rawat took charge as the new Army Chief replacing General Dalbir Singh Suhag. Lt Gen Rawat was the Vice Chief of Army Staff. He superseded two seniormost Lt Generals, Praveen Bakshi and PM Hariz as the 26th Army Chief of India. Air Marshal Birender Singh Dhanoa also took charge as the next Air Force Chief replacing Anup Raha. A Gorkha Rifles officer, Gen. Rawat will be the 27th Army chief. With extensive experience in both — Kashmir and Eastern region — Gen. Rawat has also held key appointments in the Army headquarters as well as with the UN peacekeeping force. Air Chief Marshal Birender Singh Dhanoa took over as the 25th Chief of the Air Staff at a ceremony held at the Air

British pop singer George Michael passes away

George Michael, the British pop superstar who reached early fame with WHAM! has died at the age of 53. Michael enjoyed immense popularity early in his career as a teenybopper idol, delivering a series of hits such as “Wake Me Up Before You Go—Go,” “Young Guns (Go For It)” and “Freedom.” As a solo artist, he developed into a more serious singer and songwriter, lauded by critics for his tremendous vocal range. He sold well over 100 million albums globally, earned numerous Grammy and American Music Awards, and recorded duets with Aretha Franklin, Ray Charles, Luciano Pavarotti and Elton John among others.

Government to execute Rs 5 lakh crore Sagarmala projects

The Centre will implement projects worth 5 lakh crore till May 2019 under the Sagarmala project. For this Sagarmala Development Company (SDC) has been formed to provide equity support to the government’s ambitious Sagarmala programme, which is aimed at promoting port-led economic development projects. Of the Rs 12 lakh crore being planned for investment under the ambitious programme, the government will pump around Rs 8 lakh crore into industrial clusters while the remaining Rs 4 lakh crore will go to port rail and port road connectivity, mechanisation and modernisation of ports. The government is also looking to complete the Chardham project before 2018. Know More Sagar Mala project is a s

Quiz - Reasoning

Directions (1-5) : Study the following information and answer the questions that follow Seven people, P, Q, R, S, T, U and V have a seminar on seven different months (of the same year) namely January, February, March, June, August, October and December, but not necessarily in the same order. Each of them also likes a different fruit namely Banana, Grapes, Papaya, Orange, Mango, Litchi and Apple but not necessarily in the same order. R has a seminar in a month which has less than 31 days. Only two people have a seminar between R and S. The one who likes Banana has a seminar immediately before S. Only one person has a seminar before the one who likes Papaya. Q has a seminar immediately after t

Anil Baijal takes oath as Delhi's Lt Governor

Former Union Home Secretary Anil Baijal has taken oath as the Lt. Governor of Delhi. Baijal was administered the oath by Delhi High Court Chief Justice G. Rohini at the Lt Governor's office. He succeeds Najeeb Jung, who resigned earlier. Baijal, a 1969-batch Indian Administrative Service officer, retired from service in 2006. In his long career of 37 years, the former senior bureaucrat held several eminent positions, including Union Home Secretary, Chairman and Managing Director of Indian Airlines, Additional Secretary in the Ministry of Information and Broadcasting, and Joint Secretary and Secretary in the Ministry of Civil Aviation. Deciphering facts In India, a lieutenant governor is in c

Agni-V test fired from mobile launcher

The test-firing of India’s most formidable ballistic missile, Agni-V, which can carry a nuclear warhead weighing about 1.5 tonnes over a distance of 5,000 km and plus was done from the Abdul Kalam Island, off the Odisha coast recently. A missile launched from a canister mounted on a road-mobile launcher gives it operational flexibility. The bouquet of five Agnis form the bulwark of India’s nuclear deterrence capability. While Agni-I has a range of 700 km, Agni-II 2,000 km, and Agni-III 3,000 km, Agni-IV can take out targets 4,000 km away. Significance of Agni-V

Alibaba to soon open its first India office

Alibaba, largest e-commerce entity in China, is setting up its first India office in Mumbai to capture a pie of the growing e-commerce market here. So far Alibaba has invested in Indian e-commerce company Snapdeal, and in Paytm, the mobile payments service platform, through Ant Financials, its payment arm. Know More India’s business to business (B2B) online retail market is estimated to grow by 2.5 times to Rs 45 lakh crore by 2020. In comparison, B2C (business to consumer) e-commerce is estimated to be only Rs 1.86 lakh crore by 2020. India's $17-20 billion e-commerce market, expected to grow to $34 bn next year, is dominated by local giant Flipkart, followed by Amazon, and Snapdeal .

Panel bats for changing financial year to January-December

India is the only one among the big countries to follow the April-March financial year, which makes international data comparisons difficult. On the suggestion of think-tank NITI Aayog the government set up a committee headed by former chief economic advisor Shankar Acharya in July 2016 with a mandate to examine the desirability and feasibility of having a new fiscal year .The committee has submitted its report recently and recommended changing the financial year from the current April to March to the calendar year January-December. Former cabinet secretary KM Chandrasekhar, former finance secretary of Tamil Nadu PV Rajaraman and Rajiv Kumar, senior fellow at the Centre for Policy Research

Viral Acharya new RBI deputy governor for monetary policy

Viral Acharya, professor at New York University’s Stern School of Business, will take over as deputy governor of the Reserve Bank of India (RBI) for three years, effective January 20. Though the RBI traditionally has four deputy governors, one post has been vacant since Urjit Patel, who was deputy governor, became governor three months ago. He will look after the Monetary Policy and Research cluster, which was under Urjit Patel before his elevation as Governor. As in-charge of monetary policy, he will become a part of the six-member interest-rate setting monetary policy committee. Currently, the monetary policy function is being looked after Deputy Governor R Gandhi, who will retire on Janua

Goat with superfine wool cloned in China

The world’s first cloned goat bearing superfine Cashmere wool was born in north China’s Inner Mongolia Autonomous Region. The Cashmere fibre from the goat is less than 13.8 micrometres thick, much finer than the average of 15.8 micrometres of the famous Erlang Mountain goats in Inner Mongolia. Cashmere wool is obtained from Cashmere goats and a few other types of goat. Know More Cloning: It is scientific process of creating genetically identical copies of biological matter. It may include genetically identical copies of genes, cells, tissues or entire organisms.

Lanura is first village to go cashless in J&K

Lanura in Budgam district has become the first village in Jammu and Kashmir to go ‘cashless’. At least one member of each household in the village, has been trained in using the Electronic Payment System (EPS). This is achieved due to the efforts of the CSC e-Governance Services India Limited and the National Informatics Centre.

British Library to digitise 4,000 Bengali books

A new British Library project will digitise 4,000 early printed Bengali books, amounting to more than 800,000 pages, as part of the U.K. India Year of Culture plans for 2017. The digitisation project is part of a wider “Two Centuries of Indian Print” project, an international partnership led by the British Library with funding from the Newton Fund to digitise unique material from its South Asian printed books collection. The books are in high demand and span at least 22 South Asian languages.

President appoints JS Khehar as the next Chief Justice

The President appointed Justice Jagdish Singh Khehar, the country’s first CJI from the Sikh community as the 44th Chief Justice of India from January 4, 2017. Justice Khehar will have a short tenure of a little over seven months — from January 4 till August 28. This appointment follows the tradition of the CJI being succeeded by the senior-most judge in the Supreme Court. Justice Jagdish Singh Khehar, led the five-judge constitution bench in the Supreme Court which had struck down the controversial NJAC Act for appointment of judges. Besides heading the bench in NJAC matter, Justice Khehar has also headed a bench which had set aside the imposition of President's rule in Arunachal Pradesh in

Govt appoints arbitrator in gas price dispute with Reliance

Retired judge GS Singhvi, who was on the Supreme Court bench that in 2012 ordered cancellation of 100-plus telecom licences in the 2G scam case, is the government's nominee to arbitrate a dispute between Reliance and Oil & Natural Gas Corp (ONGC). On the other hand Reliance has appointed Bernard Eder, a lawyer and former high court judge in the United Kingdom, to the panel that will decide if the company needed to pay up $1.55 billion for producing gas that belonged to fields operated by state-run ONGC. Know More Krishna Godavari Basin Krishna-Godavari Basin spread across more than 50,000 square kilometers. in the Krishna River and Godavari River basins in Andhra Pradesh. The site is known

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