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Saturday, 30 September 2017

US fines HSBC $175 mn for Lax Forex Oversight

The US central bank has fined global banking giant HSBC $175 million for failing to oversee foreign exchange traders who misused confidential client information and colluded with traders at competing banks. Between 2008 and 2013, the bank failed to detect misconduct by senior traders, including its global head of foreign exchange cash trading, according to the Federal Reserve.

President Appoints Governors for 5 States, Banwarilal Purohit Named TN Governor

Former Union Minister Satya Pal Malik has appointed as the new Governor of Bihar while Assam Governor Banwarilal Purohit will now be the new Governor of Tamil Nadu. Lt Governor of Andaman and Nicobar, Prof Jagdish Mukhi will replace Mr Purohit as the Governor of Assam. Admiral (Retd) Devendra Kumar Joshi will be the Lieutenant Governor of Andaman and Nicobar in place of Prof. Mukhi. 

Veteran actor Tom Alter dies at 67

Veteran film, television and theatre actor and Padma Shri Tom Alter has died at aged 67. The renowned actor and one-time sports writer and author had been battling stage four skin cancer.

Government Keeps Interest Rates Unchanged on Small Savings Schemes

Ahead of monetary policy review, the government has kept unchanged the interest rates on small savings schemes like PPF, Kisan Vikas Patra and Sukanya Samriddhi for October-December quarter. Investments in the Public Provident Fund (PPF) scheme will fetch annual rate of 7.8 percent while Kisan Vikas Patra (KVP) investments will yield 7.5 percent and mature in 115 months.

Aeris Communications partners BSNL for IOT solutions

Aeris Communications has entered into a partnership with Bharat Sanchar Nigam Limited (BSNL) to provide packaged Internet of Things (IoT) solutions and services to small, medium businesses and public sector undertakings (PSUs) in India. 

Happy Dussehra!!


Team Adda247 wishes you all a very Happy Dussehra!! Dussehra is one of the most significant festivals of the Hindu religion. As per the Hindu mythology, Rama killed Ravana, the king of Lanka on this day. It marks the victory of good over evil. It falls on the tenth day of Ashwin month according to Hindu Calendar. Hindus in India, Bangladesh, and Nepal celebrate this festival by burning huge effigies of Ravana across the country. 

Friday, 29 September 2017

International Day for Universal Access to Information Observed Globally

The International Day for Universal Access to Information (IDUAI) was observed globally on 28 September 2017. The celebrations and events for the Day are organised by UNESCO.

Rajiv Sabharwal to Take Charge as Tata Capital CEO

Tata Capital announced the appointment of Rajiv Sabharwal as Managing Director & CEO designate of the company. Sabharwal will be joining Tata Capital in January 2018 and would be taking over from the company's current Managing Director & CEO Praveen P Kadle.

VNL Signs Pact with BSNL for Disaster Management

Telecom equipment and solutions provider VNL has signed an MoU with BSNL to provide solutions for disaster management. The 'Relief 123' service will restore connectivity at disaster sites, help locate the affected and integrate information across platforms to enable informed decision-making for quick relief.

$80-Million ADB loan to Himachal Pradesh

Multilateral lending agency Asian Development Bank (ADB) has approved a loan of $80 million (about Rs 524 crore) for the modernization of Himachal Pradesh’s technical and vocational education and training (TVET) institutions.

India Jumps to 14th Rank as Best Country for Expats: HSBC Survey

India leapt up the global rankings by 12 places to take the 14th spot in terms of best country for expats to live and work in, according to the HSBC survey. The list has been topped by Singapore.

For the First Time, Five Indian Shuttlers in Top-20 of BWF Men’s Rankings

For the first time, Five Indians are in the top-20 of the BWF men’s singles rankings with H S Prannoy being the biggest gainer after his quarterfinal showing at the Japan Open. Prannoy has jumped four places to be world no.15.

India, Norway Extends Bilateral Cooperation

India and Norway have extended bilateral cooperation in the health sector through the Norway-India Partnership Initiative for a period of three years starting 2018. A letter of Intent was signed to this effect in New Delhi between the Union Ministry of Health and Family Welfare and the Norwegian Ministry of Foreign Affairs.

In a First, Saudi Arabia Issues Decree Allowing Women to Drive

Saudi Arabia’s King Salman has issued a decree allowing women to drive for the first time. The order will be implemented by June 2018. The royal decree will implement the provisions of traffic regulations, including the issuance of driving licences for men and women alike.

MoU Signed Between BSNL and ZTE

Bharat Sanchar Nigam Limited (BSNL) has signed a memorandum of understanding (MoU) with Chinese gear maker ZTE.

Madhya Pradesh Bags ‘Best Tourism State’ Award

Madhya Pradesh has won the ‘Best Tourism State’ national award for the third consecutive year. President Ram Nath Kovind handed over the award, named as ‘Hall of Fame Award’, to Minister of State for Tourism Surendra Patwa at a ceremony held at Vigyan Bhawan in New Delhi.

Air India Ties up with PNB, IndusInd

Air India has tied up with public sector lender PNB and private lender IndusInd Bank to secure loans to the tune of over Rs 3,000 crore for meeting working capital requirements.

Thursday, 28 September 2017

Russia, US Partner to Build 1st Ever Space Station Near Moon

Russian and US space agencies, Roscosmos and NASA, have agreed to jointly build a "deep space gateway", the first-ever astronaut-tended space station around the Moon.

ICICI Bank Launches ‘Cashback’ Home Loans

India’s largest private sector lender, ICICI Bank announced a new home loan scheme that offers borrowers the benefit of 1% cashback on every EMI, for the entire tenure of the loan. The offer will be valid for home loans with a minimum tenure of 15 years and maximum tenure of 30 years.

BHU Appoints its First Woman Chief Proctor

The Banaras Hindu University has appointed Professor Royana Singh as its Chief Proctor. She will be the first woman to hold the post, as per an official of the 101-year-old central University.

ADB to Increase Annual Lending to India to $4 billion

The Asian Development Bank will increase its annual lending to India to a maximum of $4 billion between 2018 and 2022 to help fasten inclusive economic transformation towards upper middle-income status.

World Maritime Day: 28 September

The World Maritime Day is celebrated across the world on 28 September. The theme for 2017 World Maritime Day is ‘Connecting Ships, Ports and People’.

Important Cabinet Approvals- 27th September 2017

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given the following set of approvals. The full list of Cabinet Approvals is given as follows.

India to host South Asian boxing Championship in Guwahati

India will host the South Asian Boxing Championship for the first time in Guwahati from December 6 to 10. Boxing Federation of India (BFI) after its executive committee meeting, stated that the country will also host the ‘India International Open tournament’ in New Delhi in the third week of January.

IBBI Registered National E-Governance Services Ltd as Information Utility

The Insolvency and Bankruptcy Board of India (IBBI) registered National E-Governance Services Limited (NeSL) as an Information Utility (IU) under the IBBI (Information Utilities) Regulations, 2017. With this NeSL has become the first IU registered by the IBBI and the registration is valid for five years from the date of registration.

Twitter Announces Test Project Allowing Tweets to be Expanded From 140 to 280 Characters

Twitter has announced a test project allowing tweets to be expanded to 280 characters, double the existing limit in the latest effort to boost flagging growth at the social network. It aims to address a major cause of frustration for many users.

Two US Lawmakers Introduce Legislation in House of Rep. to Support India’s Permanent Membership to UNSC

In the United States, two influential Democratic lawmakers have introduced a legislation in the House of Representative to support India’s permanent membership to the UN Security Council.

Syndicate Bank Cuts Savings Account Interest Rate by 0.5%

Public sector Syndicate Bank has cut savings account interest rate by 0.50 percent to 3.50 percent for deposits up to Rs 25 lakh. The bank has revised rate of interest on savings bank deposits with effect from October 10 to 3.50 percent from 4 percent existing rate.

Playboy Founder Hugh Hefner Passes Away

Playboy magazine founder and sexual revolution symbol Hugh Hefner has passed away. He was 91. He died at his home of natural causes.

World Rabies Day: 28th September

World Rabies Day is celebrated annually on 28th of September to raise awareness about rabies prevention. This day also marks the anniversary of Louis Pasteur's death, the French chemist and microbiologist, who developed the first rabies vaccine.

Wednesday, 27 September 2017

INS Tarasa Commissioned into Indian Navy

INS Tarasa, a Water Jet Fast Attack Craft intended for extended coastal and offshore surveillance and patrolling, was commissioned into the Indian Navy. Western Naval Command chief Vice Admiral Girish Luthra has commissioned the vessel. The vessel has been built in Kolkata.

IDBI Bank Launches ‘Project Nishchay’ for Turnaround

IDBI Bank has launched ‘Project Nishchay’ in partnership with the Boston Consulting Group (BCG) to accelerate its turnaround program and improve financial performance.

Minister of Communication Shri Manoj Sinha Launched First Ever India Mobile Congress 2017

The Minister of Communication Shri Manoj Sinha launched DoT’s first ever Mobile, Internet and Technology event in India – India Mobile Congress 2017 at Pragati Maidan, New Delhi.

Shri Ram Vilas Paswan Launched “Electronic Negotiable Warehouse Receipt (e-NWR) System”

Shri Ram Vilas Paswan, Union Minister of Consumer Affairs, Food and Public Distribution launched the Web Portal of Warehousing Development and Regulatory Authority (WDRA) & “Electronic Negotiable Warehouse Receipt (e-NWR) System” in New Delhi.

Maharashtra Govt Signs MoU with South Korea

The Maharashtra government has signed a MoU with South Korea for increased co-operation in infrastructure projects like development of smart cities, roads, airports and metros on the first day of Chief Minister Devendra Fadnavis’ visit to that country.

WEF’s Global Competitiveness Rankings: India Ranks 40th, Switzerland Tops

India remains the most competitive country in South Asia, appearing at No. 40 in the global competitiveness ranking of 137 countries by the World Economic Forum (WEF). The ranking is one lower than last year.

CISF Security at Mumbai Airport Rated Best in World

The Central Industrial Security Force (CISF) security at the Chhatrapati Shivaji International Airport (CSIA) in Mumbai has been recognised as the best service in this domain by a global quality rating agency.

Angola Swears in its First New President After 38 Years

Angola swore in Joao Lourenco as the country's President, making him the first new President of the country in 38 years. This comes after the previous president, Jose Eduardo dos Santos, announced his retirement and chose Lourenco as his successor.

Platform for Effective Enforcement for No Child Labour (PENCIL) Portal Launched

The Union Home Minister Shri Rajnath Singh launched the Platform for Effective Enforcement for No Child Labour (PENCIL) Portal at the National Conference on Child Labour organised by the Ministry of Labour and Employment.

RIL World’s 3rd Largest Energy Firm: Platts Rankings

Reliance Industries Ltd (RIL) is the world’s third-biggest energy company behind Russian gas firm Gazprom and German utility E.ON, according to Platts Top 250 Global Energy Company Rankings.

’Incredible India’ Campaign Launched in Cairo

India launched a campaign to woo Egyptian travellers and make them aware of magnificent holiday options in the country. The month-long "Incredible India!" campaign has been organised by the Embassy of India in Cairo.

Bilal Dar from Srinagar becomes an ambassador for Swachhata Hi Seva

Bilal Dar, a young boy from Srinagar has become the brand ambassador for Srinagar Municipal Corporation. Dar has been contributing to the  ‘Swachhta Abhiyan’ since the age of 12.

Kandla Port Renamed as Deendayal Port

The Kandla Port, one of the top 12 major ports in the country, has been renamed as Deendayal Port in the name of Hindutva icon Pandit Deendayal Upadhyay.

Former World’s Heaviest Woman Eman Abd El Aty Dies

Eman Ahmed, the world’s heaviest woman who made news when she arrived in Mumbai earlier this year for a weight-loss surgery, passed away in Abu Dhabi.

World Tourism Day: 27 September

The World Tourism Day is celebrated across the world on 27th of September.  Its purpose is to foster awareness among the international community of the importance of tourism and its social, cultural, political and economic value.  The theme for World Tourism Day 2017 is 'Sustainable Tourism – a Tool for Development'.

Tuesday, 26 September 2017

Two Indians on Fortune's List of 'Most Powerful Women in International Business'

Two Indian women have featured on Fortune's list of Most Powerful Women in business outside the US. Managing Director and CEO of ICICI Bank Chanda Kochhar was ranked fifth and Managing Director and CEO of Axis Bank Shikha Sharma was ranked at 21.

Shashi Shankar appointed CMD of ONGC

Shashi Shankar was appointed as the Chairman and Managing Director (CMD) of India's biggest oil and gas producer ONGC. The Appointments Committee of the Cabinet has approved his appointment to the post of CMD.

ICC Announces Major Changes in Cricket Rules

The International Cricket Council (ICC) has announced several changes to the existing template of how the sport of cricket is played. All the new rules will be implemented from September 28.  The new rules incorporate bat thickness, player conduct, DRS, run outs and catches.

BDL Signs Contract for Supply of MRSAM to Indian Army

Bharat Dynamics Limited (BDL) has signed a contract with Research Centre Imarat (RCI) for the supply of Medium Range Surface-to-Air Missiles (MRSAM) to Indian Army.

ADB Lowers India Growth Forecast for this Fiscal

Asian Development Bank (ADB) has downgraded India’s growth projection to 7 percent for the current fiscal while lowering its forecast for the next financial year as well.