Month: August 2017

Ujjivan SFB gets Scheduled Bank Status

Why in news ? Ujjivan Small Finance Bank (SFB) is a wholly-owned subsidiary of Ujjivan Financial Services Limited included in the second scheduled to the RBI Act 1934 on 30th Aug 2017. About news ? This grants the ‘Scheduled Bank’ status to Ujjivan Small Finance Bank’ from the date of notification. Currently, Ujjivan SFB has […]

RK Raghavan Indian High Commissioner to Cyprus

Why in news ? Dr. R.K. Raghavan appointed as the next High Commissioner of Indiato the Republic of Cyprus announced. About news ? He served as a former Central Bureau of Investigation (CBI) Director from January 4, 1999, to April 30, 2001. He served as the director of Tamil Nadu Fire Service and as the […]

Cabinet approves pact on India-Israel tech Fund

Why in news ? The cabinet approved memorandum of understanding signed between India and Israel to set up USD 40 million fund for industrial research and technological innovation. About news ? India and Israel will make a contribution ofUS $4 million (Rs.25 crore) each for Fund. The MoU aims at a promotion of bilateral Industrial […]

NITI Aayog Announced Winners of the Women Transforming India Awards 2017

Why in news ? Union Minister of Textiles, Information, and Broadcasting Smriti Irani will present this prestigious award to a number of women winners at an event in New Delhi. About news ? The award has been launched by NITI Aayog, in partnership with the UN in India and MyGov, to recognize the transformational impact […]

Freyr Energy ties up with Axis Bank

Why in news ? Solar energy services company Freyr Energy has tied up with Axis Bank to offer term loans ranging from ₹5 lakh to ₹50 lakh for tenures up to five years,for solar rooftop installations in Telangana and Andhra Pradesh. About news ? The loans will be given to MSMEs and self-employed individuals to […]

10th India-European Union Counter Terrorism Dialogue

Why in news ? India and the European Union Wednesday agreed to strengthen cooperation between their security and intelligence agencies to combat the threat of terrorism and check terror financing. About news ? The two sides deliberated extensively on combating terror financing and challenges posed by radicalisation and violent extremism, during the 10th India-European Union […]

Canara HSBC Oriental Life Launched ‘PoS’ product

Why in news ? Canara HSBC Oriental Bank of Commerce Life Insurance Company (CHOICE)has come up with a ‘Point-of-Sale’ product targeted at the mass-market segment. About news ? The product-‘PoS – Easy Bima Plan’is the first PoS product for the companyand is a pure term insurance plan. While this product has initially been launched through […]

YouTube Changes its Logo for the First Time

Why in news ? Google-owned YouTube has refreshed its iconic logo and introduced some major design changes to its desktop and mobile apps. About news ? Unlike minor tweaks, this is the biggest change the YouTube logo has received over the years. The logo ditches the red colorinside the “Tube” part of the name and […]

ICEX Launches World’s First Diamond Futures Contracts

Why in news ? The Indian Commodity Exchange (ICEX)launched the world’s first diamond futures contracts to provide exporters with a hedging tool. About news ? India is a global diamond polishing hub where 14 out of every 15 rough diamonds in the world are polished. At the launch, the first diamond contract for delivery in […]

Sri Lankan Selection Committee Headed By Sanath Jayasuriya Resigns

Why in news ? The Sanath Jayasuriya-led Sri Lankan cricket selection panel has stepped downin the wake of the country’s horrible performance against India. About news ? Sri Lanka suffered 3-0 defeat in the Test series and have already lost the five-match ODI series against Virat Kohli’s Indian cricket team. Sri Lanka Cricket vice-president Mohan […]