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Ganga
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1.RBI cancels registration of 22 NBFCs
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Reserve Bank of
India (RBI) has cancelled registration of 22 non-banking finance companies
(NBFCs) including Amazon Capital and Mascot Commerce.
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2. Swavalamban subscribers can switch to
APY: PFRDA
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Subscribers of
micro-pension scheme ‘Swavalamban’, which closes on March 31, can switch to
the ‘Atal Pension Yojana’ (APY) and retain the government’s co-contribution.
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Under the scheme,
the government contributes Rs 1,000 per year to each NPS account for the
first four years.
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3. Boost for e-commerce as Centre permits
100 per cent FDI in online market places
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The government
permitted 100% foreign direct investment (FDI) under the automatic route for
retail trading, or B2C (business-to-consumer) transactions, in the
marketplace model of e-commerce.
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4. Gujarat to set up country’s first
organic farming university
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In 2016-17 state
annual budget; state government has allocated a fund of 10 crore rupees
towards the university. It also took steps like setting up of a cell to
implement its new organic farming policy.
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5. ADB, USAID to assist developing Solar
parks in India
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The US Agency for
International Development (USAID) and Asian Development Banktoday signed a
pact for providing Rs 5,681 crore (USD 848 million) to develop solar parks
across India, as part of clean energy infrastructure in the country.
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6. ONGC to invest $5 billion to develop
KG basin deepwater block
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The ONGC board
has approved a $ 5.076-billion field development plan for a portion of its
deepwater oil and gas block in the Krishna-Godavari basin on the east coast.
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7. Indian-American appointed as President,
CEO of Bank of the West
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Indian-American
Nandita Bakshi has been appointed the President and Chief Executive Officer
(CEO) of Bank of the West, a subsidiary unit of French banking giant BNP
Paribas.
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8. Jeff Bezos top Fortune’s Greatest
Leaders List
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9. India’s forex reserves reach all time
high
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India’s forex
reserves jumped by $2.5 billion to reach a record high at $355.9 billion for
the week that ended on March 18, the Reserve Bank of India said on Friday in
its weekly statistical report.
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The previous high
stood at $355.4 billion reported on June 27 of last year
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10. New BRICS-supported bank approves
first loans
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A new
multilateral lender set up by the BRICS nations has approved its first set of
loans valued at 811 million US dollars for renewable energy projects in four
of its member countries.
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According to a
statement, the first group of projects approved by the bank’s board are in
the area of green and renewable energy.
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11. Centre to increase monthly minimum
wages to 10,000 rupees for contract labourers
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Union Labour
Minister Bandaru Dattatreya has said that the government has decided to bring
out an executive order to increase minimum wages to 10,000 rupees per month
for contract labourers across the country.
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12. Jharkhand Government launches Bhimrao
Ambedkar Awas Yojana for widows
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It was launched
by Chief Minister Raghubar Das on the occasion of 125th birth anniversary of
Dr. B R Ambedkar.
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The scheme
(Yojana) aims at building 11000 units (houses) for widows in 2016-17
financial year with the budgetary allocation of 80 crore rupees.
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Under it,
beneficiaries would get an amount of 75000 rupees to build a house in hilly
terrains districts and 70000 rupees in plains area.
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13. India offers to invest $20 billion in
oil and other projects in Iran
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India has offered
to invest up to $20 billion in oil, petrochemicals and fertiliser projects in
joint ventures with Iran if Tehran provides land and cheap gas, even as there
is no sign yet of an agreement on the long-pending rights to develop Farzad-B
gas field in the Persian Gulf discovered by staterun ONGC Videsh.
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14. India to get $250m for renewables
from New Development Bank
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The New
Development Bank, the latest multilateral funding institution in the
financial world, has sanctioned a $250 million loan for India to fund its
ambitious scheme on new and renewable energy.
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15. RBI gave in-principle approval to
Airtel payments bank
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Reserve Bank of
India (RBI) has granted the first payments bank license to Airtel M Commerce
Services (AMSL) which is a subsidiary of Bharti Airtel.
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All companies,
which received in-principle approval from RBI in August, will have to make
their banks operational by March 2017.
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16. India world’s largest remittance
recipient in 2015: World Bank
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In its annual
report Migration and Development Brief, World Bank said, India retained its
top spot in 2015, attracting about 69 billion US dollars in remittances, down
from 70 billion in 2014.
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17. Interest rates for NSSF loan to
Centre, states cut to 8.8%
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The government
has slashed interest rates on loans from the National Small Savings Fund
(NSSF) to 8.8 per cent from 9.5 per cent for FY17.
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All the funds
collected from small savings such as National Small Savings Certificate,Kisan
Vikas Patra (KVP), Public Provident Fund (PPF) and Senior Citizens’ Savings
Scheme (SCSS) is deposited in the NSSF.
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18. Nauru becomes 189th member of IMF,
World Bank
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The Republic of
Nauru, a tiny South Pacific island nation in Pacific Ocean became the 189th
member of the International Monetary Fund (IMF) and World Bank.
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19. Vijay Shekhar Sharma appointed
chairman of IAMAI payments banks group
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Industry body
Internet and Mobile Association of India, has appointed Paytm founder Vijay
Shekhar Sharma, chairman of its the newly formed payments banks group.
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Vodafone India
business head(M-Pesa)Suresh Sethi, will be the vice-chairman of the group.
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20. India may expand by 7.7% in fiscal
year 2017: Fitch
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Fitch Ratings
expects India to be on the top of the global growth ladder and expanding by 7.7
per cent in the current fiscal.
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Growth is
expected to gradually accelerate to 7.7 per cent in FY17 and 7.9 per cent in
FY18,” Fitch Ratings said in its India-Global Economic Outlook (GEO)
Forecast.
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21. India to notch up to 7.5 pc growth in
2016–17: IMF
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MF in its latest,
World Economic Outlook report said, India’s growth is projected to notch up
to 7.5 per cent in 2016-17, overtaking China’s GDP by more than 1 per cent.
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22. Postal department to launch payments
bank by January
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The Department of
Post will launch its payments bank by January next year and top management of
the new-age venture would be in-place by July.
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23. India, Germany sign pact on Ganga
Rejuvenation
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The project
duration is three years from 2016 to 2018 and the German contribution in the
project will be to the tune of 22.5 crore rupees.
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24. Central govt employees get 6 per cent
DA hike from Jan 1
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Dearness
allowance (DA) for central government employees has been hiked to 125 %of
basic pay, up by 6 percentage points, with effect from January 1, 2016.
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The Centre
revises DA twice a year on the basis of one year average of retail inflation
for industrial workers as per a pre-determined formula.
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25. Nita Ambani most powerful
businesswoman in Asia: Forbes
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SBI Chairman and
Managing Director Arundhati Bhattacharya has been rankedsecond.
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26. RBI cuts repo rate by 25 basis points
to 6.5%; Keeps CRR unchanged
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The Reserve Bank
of India (RBI) has cut down key interest rates repo rate by 25 basispoints to
6.50 per cent from 6.75 per cent in its first bi-monthly monetary
policyreview for the 2016-17 fiscal.
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27. DCB Bank launches India’s first
Aadhaar-based ATM
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DCB Bank has
launched, India’s first of its kind Aadhaar-based Automatic Teller Machine
(ATM) in Mumbai. It is a card less and PIN less ATM,customers can transact
using hisbiometric details instead of the PIN.
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28. Modi launches ‘Stand Up India’ scheme
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The scheme is
intended to promote entrepreneurship among Scheduled Castes,Schedule Tribes
and women will involve loans ranging from Rs. 10 lakh to Rs. 1 crore.
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29. India ranks 6th in 2015 top-10
manufacturers list: UNIDO report
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India has been
ranked sixth among the world’s Top-Ten largest manufacturing countries in the
United Nations Industrial Development Organization (UNIDO) 2015 Yearbook
report.
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30. Germany’s Development Bank KfW to
provide loan assistance to metro system for Nagpur
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Germany’s
Development Bank KfW will provide loan assistance of three thousand and 750
crore rupees for the modern and sustainable metro system for Nagpur city
being executed by Nagpur Metro Rail Corporation Limited.
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31. Geeta Reddy is new Chairperson of PAC
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Congress senior
MLA J Geeta Reddy has been appointed as the new Chairperson of the Public
Accounts Committee (PAC) of Telangana.
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