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RBI buys three long-term securities worth Rs 10,000 cr in 3rd special OMO

January 8, 2020

In the third special open market operation in many weeks, the Reserve Bank of India (RBI) bought three long-term securities worth 10,000 crore rupees each while selling the same amount of three short-term bonds.The RBI had announced simultaneous purchase and sale of Government Securities (G-Secs) under Open Market Operations (OMOs) for 10,000 crore rupees each.

Though the RBI offered to sell four securities in the auction, it accepted bids for three bonds. In the current OMO purchase auction, the RBI offered to purchase three securities including 10-year benchmark government bond, as against just one bond in the previous two auctions. It got bids worth 64,505 crore rupees for the three bonds but choose to accept only bids of 10,000 crore rupees under the OMO purchase auction.

Equitas Small Finance Bank waives non-maintenance charges

January 8, 2020

Equitas Small Finance Bank stated it has waived non-maintenance charges on all savings accounts besides offering lower transaction charges to customers. The bank offers upto 5 per cent per annum on savings and upto 8.25 per cent per annum on fixed deposits and 0.60 per cent extra for senior citizens.

They intend to further strengthen the  liability franchise with a focus on growing the  retail deposit and CASA deposit base to provide with a stable and low-cost source of funding. Premature closure of accounts and partial withdrawal is also permitted for senior citizens.

77th Golden Globe award winners 2020

January 8, 2020

77th Golden Globe Awards honouring the best films and television of calendar year 2019 was held at Beverly Hills, California in the USA.

CategoriesWinners
Best Performance by an Actor in a Television Series — Musical or ComedyRamy Youssef (“Ramy”)
Best Performance by an Actress in a Television Series — Musical or ComedyPhoebe Waller-Bridge (“Fleabag”)
Best Performance by an Actor in a Television Series — DramaBrian Cox (“Succession”)
Best Performance by an Actress in a Television Series — DramaOlivia Colman (“The Crown”)
Best Performance by an Actor in a Limited Series or Motion Picture Made for TelevisionRussell Crowe (“The Loudest Voice”)
Best Performance by an Actress in a Limited Series or Motion Picture Made for TelevisionMichelle Williams (“Fosse/Verdon”)
Best Television Limited Series or Motion Picture Made for Television“Chernobyl”
Best Performance by an Actress in a Supporting Role in a Series, Limited Series or Motion Picture Made for TelevisionPatricia Arquette (“The Act”)
Best Performance by an Actor in a Supporting Role in a Series, Limited Series or Motion Picture Made for TelevisionStellan Skarsgård (“Chernobyl”)
Best Television Series — Drama“Succession”
Best Television Series — Musical or Comedy“Fleabag”
Best Motion Picture — Musical or Comedy“Once Upon a Time in Hollywood”
Best Motion Picture — Drama“1917”
Best Motion Picture — Foreign Language“Parasite”
Best Screenplay — Motion PictureQuentin Tarantino (“Once Upon a Time in Hollywood”)
Best Original Song — Motion Picture“(I’m Gonna) Love Me Again” (“Rocketman”)
Best Original Score — Motion PictureHildur Guðnadóttir (“Joker”)
Best Actor in a Supporting Role in Any Motion PictureBrad Pitt (“Once Upon a Time in Hollywood”)
Best Actress in a Supporting Role in Any Motion PictureLaura Dern (“Marriage Story”)
Best Actor in a Motion Picture — Musical or ComedyTaron Egerton (“Rocketman”)
Best Motion Picture — Animated“Missing Link”
Best Actor in a Motion PictureJoaquin Phoenix (“Joker”)
Best Actress in a Motion Picture — DramaRenée Zellweger (“Judy”)
Best Actress in a Motion Picture — Musical or ComedyAwkwafina (“The Farewell”)
Best Director — Motion PictureSam Mendes (“1917”)

Former Western Army Commander Lt. General P N Hoon passes away

January 8, 2020

Former Western Army Commander Lieutenant general Prem Nath Hoon, who played an important role in the war against Pakistan in 1984, passed away at the age of 90. Lt Gen Hoon was admitted in Command Hospital, Chandimandir, Panchkula for the past two days due to illness.

Born in pre-partition India on October 4, 1929, Lt Gen Hoon had joined the Indian Army and led Operation Meghdoot, the code-name for the Indian Armed Forces operation to capture the Siachen Glacier in the Kashmir region, precipitating the Siachen Conflict. The action resulted in Indian troops gaining control of the entire Siachen Glacier.

Maharashtra: “Advantage Maharashtra expo 2020” inaugurated

January 9, 2020

Maharashtra Chief Minister Uddhav Thackeray will inaugurate “Advantage Maharashtra expo 2020” in Aurangabad today. The four-day exhibition has been organised by the Marathwada Association of Small Scale Industries and Agriculture (MASSIA).

This Exhibition showcase the growth of Marathwada industries in technology and innovation and the products produced and exported from the region will be showcased in this exhibition. This exhibition will provide an opportunity for businesses and will serve the platform for small entrepreneurs.

SBI announces RBBG scheme

January 9, 2020

The State Bank of India has announced ‘residential builder finance with buyer guarantee’ (RBBG) scheme. The aim of the scheme is to giving a push to residential sales and improve homebuyers’ confidence.

The scheme will focus on affordable housing projects priced up to 2.50 crore rupees in 10 cities initially. Under this scheme, the guarantee would be given by the bank until the project gets the occupation certificate (OC).

Govt authorizes Rs. 5559 cr for “Indradhanush” gas grid project

January 9, 2020

The Union Government has authorized the amount of Rs 5559 crore for 1656 Km long Indradhanush Natural Gas Pipeline Grid project. The amount will be provided as Viability Gap Funding (VGF). The amount will be used to set up Natural Gas Pipeline Grid connecting 8 North Eastern states which includes: Assam, Arunachal Pradesh, Meghalaya, Manipur, Mizoram, Nagaland, Tripura and Sikkim. 

The total expenditure of the project is estimated as Rs 9,256 crore and the above sanctioned amount is expected to cover 60% of the project. The Indradhanush Gas Grid project is expected to provide natural gas to different types of customers and will also reduce the dependence on liquid fuels.

Institutions to get status of ‘Institution of National Importance’

January 9, 2020

The union cabinet granted the approval making the status of Institution of National Importance to a cluster of Ayurvedic institutions at Gujarat Ayurved University in Jamnagar. With the (INI) status, Jamnagar Ayurveda University will become the first Ayurveda institute to join the ranks of the IIT’s and AIIMS. The status of the institution will provide it with the autonomy to upgrade the standard of Ayurveda education, frame various courses in Ayurveda as per national and international demand.

Jasbinder Bilan wins 2019 Costa Children’s Award

January 9, 2020

Jasbinder Bilan has won the UK based Costa Children’s Award 2019 . She has won the award for her debut novel ‘Asha and the Spirit Bird’. She will receive 5,000 pounds as prize money associated with the award. Jasbinder’s novel “Asha and the Spirit Bird” was shortlisted from 144 other entries. The Costa Children’s Award is awarded annually in 5 categories: First Novel, Novel, Biography, Poetry and Children’s Book.

5th Asia Pacific drosophila research conference in Pune, Maharashtra

January 9, 2020

The 5th edition of the Asia Pacific Drosophila Research Conference (APDRC5) is being held in Pune, Maharashtra. The conference is being conducted in India for the 1st time.  It is organised by the Indian Institute of Science Education and Research (IISER).

The aim of the conference is to promote the interaction of Drosophila researchers in the Asia-Pacific region with their peers in the rest of the world. It will bring together scientists from all over the world who use the fruit fly, Drosophila, as a model organism to address basic and applied questions.

Zoran Milanovic wins Croatia presidential election

January 9, 2020

Former Prime Minister Zoran Milanovic won Croatia’s presidential election. He belongs Social Democratic Party (SDP). He defeated centre-right incumbent Kolinda Grabar-Kitarovic, who was the first female president of Croatia.

Milanovic, the Social Democrat candidate, took 52.7 percent of the vote, while President Kolinda Grabar-Kitarovic garnered 47.3 percent. Milanovic who will take office on 19 February, will have a higher profile as President than usual, as Croatia has just taken over the rotating presidency of the European Union for six months.

Dr. A Sakthivel appointed as the new chairman of AEPC India

January 9, 2020

Dr. A Sakthivel has been appointed as the new chairman of Apparel Export Promotion Council of India (AEPC) for the period 2020-21. He will replace HKL Magu. He is also the first person in the history of AEPC, who is sworn-in for the fourth time as Chairman of the AEPC.

Dr A Sakthivel has not only contributed his time and work to the Council, but also served as Managing Committee Member of Federation of Indian Exporters organisation (FIEO) for more than a decade. He was also the President and Regional Chairman of FIEO, Southern Region. 

NADA bans Women weightlifter Sarbjeet Kaur for 4 years

January 9, 2020

Indian women weightlifter Sarbjeet Kaur has been banned for 4 years from the sport by the National Anti Doping Agency (NADA). This ban was imposed on her for involving in doping violation. The sample of Sarbjeet was collected during 34th Women Senior National Weightlifting Championship held at Vishakhapatnam. The Agency found her guilty of anti-doping rule violation.

According to NADA, her sample had presence of prohibited substance namely — Di-hydroxy-LGD-4033 (LGD 4033 METABOLITE), Selective Androgen Receptor Modulations (SARM), and Ostarine (Enobosarm). Sarbjeet had previously won the 71kg event at the women’s national weightlifting championships in February last year.

India’s economy to reach $7 trillion by 2030: Deutsche Bank

January 9, 2020

Deutsche Bank has projected that Indian economy will reach $7 trillion by 2030. The estimation was stated by Deutsche Bank in its research report “Imagine 2030”. According to the report, India will grow with the Nominal GDP growth rate of just over 10% in the next decade. Indian economy is presently valued at $3 trillion.

India’s economic growth may remain below potential in the near term. However, ongoing government measures are expected to provide a major push to its potential in the future. The decision to reduce corporate tax rate will likely incentivise greater foreign direct investment flow into the country and support private investment.

India listed as 5th biggest Geo-political Risk of 2020

January 9, 2020

India under Prime Minister Narendra Modi has been listed as the 5th biggest Geo-political Risk of 2020. The listing was done by Eurasia Group in its report. The report states. The Top 10 Risks of 2020 are as followed:

1. Rigged!: Who Governs The US?
2. The Great Decoupling
3. US – China
4. MNCs Not to the rescue
5. India Gets Modi-Fied
6. Geopolitical Europe
7. Politics Vs. Economics of Climate Change
8. Shia Crescendo
9. Discontent in Latin America
10. Turkey

The Eurasia Group releases its ‘Top 10 Risks’ of the Year report annually considering one of the principal geopolitical indicators among global investors, multinational firms and various financial and business consultancies.

IP based Video Surveillance System being installed by Indian Railways

January 9, 2020

Railway Board has approved works for provision of Video Surveillance System covering 983 stations under Nirbhaya funds. ‘RailTel’ has been entrusted with the work of providing IP based VSS with video analytics and facial recognition system

In order to enhance security at Railway stations which are major hubs of transportation, Indian Railways is in the process of installing Internet Protocol (IP) based Video Surveillance System (VSS) at stations, that is, waiting halls, reservation counters, parking areas, main entrance/ exit, platforms, foot over bridges, booking offices etc.

All-in-one QR for merchants launched by Paytm

January 9, 2020

Digital payments firm Paytm announced the launch of its all-in-one QR for merchants across the country. This QR will enable merchants to accept unlimited payments through Paytm Wallet, Rupay Cards and all UPI-based payment apps directly into their bank account at zero per cent fee. The platform offers a single reconciliation of all payments through its ‘Paytm for Business’ app.

Owned by One97 Communications Limited, the mobile wallet company currently enjoys 54 per cent market share of mobile payments for merchants. The all-in-one QR is a must-have business tool as it is only payment QR that allows merchants to accept payments from Paytm wallet, all UPI apps, and cards. The new smart device for payment processing ‘soundbox‘ is one of the QR merchandise that allows the merchants to hear confirmation of payment receipt, which supports all payment modes and multiple languages.

Andhra Pradesh CM set to launch ‘Jagananna Amma Vodi’ scheme

January 9, 2020

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy will launch ‘Jagananna Amma Vodi’ programme in Chittoor. Under Jagananna Amma Vodi scheme, financial assistance of Rs 15,000 will be given to nearly 43 lakh mothers or guardians to send their children to school. With the announcement of the scheme, student enrolment surged by 30 per cent in the current academic year.

The government in the fiscal year 2019-20 has allocated Rs 6455.80 crore budget for the scheme, in which financial assistance of Rs 15,000 will be provided to the mother or guardian who is below the poverty line, irrespective of the number of children in that family studying in between class 1 and 12.

The scheme is applicable from the academic year 2019-20 in all the government, private aided, private unaided schools/junior colleges. It will also include residential schools and colleges in the state. The scheme is not applicable to dropouts from school or colleges. Government employees and income taxpayers are also not eligible for the scheme.

Spain: Pedro Sánchez sworn in as Prime Minister

January 9, 2020

Spanish Socialist Party (PSOE) leader Pedro Sánchez was sworn in as Spain’s Prime Minister a day after his proposed coalition with a left-wing party narrowly slipped through a vote in Parliament. Sánchez decided to forgo religious symbolism and took oath over the Constitution on the presence of King Felipe VI, the head of state. It is the second time in less than two years that the socialist leader has been sworn-in as prime minister.

Malappuram tops Economist list of world’s fastest growing urban regions

January 9, 2020

Three Kerala cities – Malappuram, Kozhikode and Kollam are among the top-10 fastest growing urban regions, in terms of population, in the world, according to the latest rankings by the Economist Intelligence Unit (EIU). Malappuram ranked number 1, while Kozhikode has been ranked number 4, Kollam is in the 10th position. No other Indian city has figured in the top 10 list.

One city from Vietnam (Can Tho), three from China (Suqian, Suzhou and Putian), one from Nigeria (Abuja), one from UAE (Sharjah), and one from Oman (Muscat) find their place in the list. The other Indian cities to figure in the list are Surat (27) and Thiruppur (30). The list has been compiled on the basis of the data provided by the United Nation’s Population Division.

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