10 public sector banks to be merged
Union Finance Minister Nirmala Sitharaman has announced consolidation of public sector banks. Under the scheme of amalgamation, 10 public sector banks are to be merged into four banks.
After the amalgamation, the total number of Public Sector Banks in the country will come down to 12 from 27 banks in 2017.
1.Punjab National Bank, Oriental Bank of Commerce and United Bank of India to be merged into one single bank, with total business of Rs 18 lakh crore to make India’s 2nd largest bank.
2.Canara Bank and Syndicate Bank are to be merged to become the 4th largest public sector bank with business of Rs 15.2 lakh crore.
3.Union Bank of India, Andhra Bank and Corporation Bank are to be merged to become the 5th largest public sector bank with business of Rs 14.6 lakh crore.
4.Indian Bank will be merged with Allahabad Bank to become the 7th largest public sector bank with business of Rs 8.08 lakh crore.
26th Mela of Ladakhi-Kisan-Jawan-Vigyan Mela inaugurated in Leh
The 26th Ladakhi-Kisan-Jawan-Vigyan Mela was inaugurated by Union Defence Minister Rajnath Singh in Leh, Jammu and Kashmir.
The mela was organised by Leh-based Defence Institute of High Altitude Research (DIHAR) of Defence Research and Development Organisation (DRDO), which was established in 1960 to meet fresh food requirement of soldiers deployed in the harsh terrain of Ladakh.
Air India to ban single-use plastic
Air India announced that the usage of single-use plastic on the flights of its subsidiaries Air India Express and Alliance Air will stop from October 2, on the day of Gandhi Jayanti.
In the second phase, the single-use plastic will be banned in all Air India flights.
Air India will replace plastic teacups and tumblers with sturdy paper cups and tumblers.
Book on former US President titled “Obama: The Call of History”
A new book titled “Obama: The Call of History” written by Peter Baker, the Chief White House Correspondent for The New York Times has been released.
This book will give an in-depth account of the former US President’s Barack Obama years in office.
GeM signs pact with SIDBI to facilitate business of MSMEs, self-help groups
The Government e Marketplace (GeM) portal run by the Department of Commerce has entered into a pact with the Small Industries Development Bank of India (SIDBI) to make it easier for micro, small and medium enterprises (MSMEs), women entrepreneurs, self-help groups, and various loan beneficiaries under special schemes of the government such as MUDRA and Stand-up India, to sell their products on the platform.
The Memorandum of Understanding (MoU) signed with SIDBI will enable promotion of special initiatives of GeM like ‘Womaniya’ and ‘Start-up Runway’.
Govt to set up Model mosques in Bangladesh
Bangladesh government will set up 560 model mosques and Islamic cultural centres in districts and upzilas across the country.
The project for the construction of 560 model mosques at a cost of Tk 8,722 crore was approved by the Executive Committee of the National Economic Council on April 2017. Prime Minister Sheikh Hasina laid the foundation stone of the project in April 2018.
Government of Bangladesh intends to make the model mosques centres for preaching “accurate and correct” information of Islam to prevent militancy and extremism being spread in the name of religion.
India’s NDC delegation visits Nepal
A delegation from the 59th course of National Defence College (NDC) India comprising 15 senior officers from civil services and defence forces of India, UK, Japan, Mongolia and Bangladesh visited Nepal.
The delegation was briefed about various functions of the Nepali Army during its visit to Nepali Army headquarters. The team also visited Western Division Headquarters at Pokhara as well as the prestigious Mountain Warfare School at Jomsom.
The National Defence College of India is a premier institute of its kind in Asia, providing instruction to senior defence and civil service officers in the wider aspects of higher direction and strategy of warfare.
IndiGo Chief Financial Officer Rohit Philip resigns
InterGlobe Aviation said it’s Chief Financial Officer Rohit Philip has put in his papers. Aditya Pandey would replace him from September 16, the company said in a regulatory filing.
Philip’s resignation is effective September 15. InterGlobe Aviation is the parent company of the country’s largest airline IndiGo.
International Day of the victims of Enforced Disappearance: August 30
The International Day of the Disappeared, on August 30 of each year, is a day created to draw attention to the fate of individuals imprisoned at places and under poor conditions unknown to their relatives and/or legal representatives.
UN and Amnesty International play an active role in raising awareness that enforced disappearance is a crime and should not be used as a tool to deal with situations of conflict.
JCB India appoints Subir Chowdhury as new managing director and CEO
JCB India announced appointment of Subir Chowdhury as the Managing Director and Chief Executive Officer.
Chowdhury, who is currently JCB India’s Chief Operating Officer, will replace Vipin Sondhi.
Before joining JCB India, Chowdhury was Director Manufacturing for Whirlpool, based in New Delhi.
Maharashtra cabinet clears the “vertical property rules”
The Maharashtra cabinet has cleared the “vertical property rules” to create a database of all flats, buildings and commercial complexes. The “vertical property rules” would prevent property-related frauds, where one flat or commercial unit is sold or mortgaged to multiple buyers or financial institutions.
All flat owners in the state will soon get supplementary property cards, which will have details such as carpet area, amenity space and bank loan information, along with their 7/12 extracts.
Moody’s Indian arm ICRA terminates MD and Group CEO Naresh Takkar
Rating agency Moody’s Indian arm ICRA terminated its Managing Director (MD) and Group Chief Executive Officer (CEO) Naresh Takkar’s employment. The rating agency has attributed the unprecedented move to protect interests of the company and its shareholders.
This is the first time a top official of a rating agency has been fired by the company’s board.
PNB gets lion’s share of recapitalization
Finance Minister Nirmala Sitharaman laid out the broad strokes for the recapitalisation plan for public sector banks, providing the approximate allocation breakup for about Rs.55,000 crore of the Rs.70,000 crore promised in the Budget.
Punjab National Bank will receive the highest share of the capital infusion of about Rs.16,000 crore. Union Bank of India will receive about Rs.11,700 crore.
Bank of Baroda will likely receive Rs.7,000 crore, Canara Bank will receive about Rs.6,500 crore of the capital infusion.
Indian Overseas Bank is to receive about Rs.3,800 crore, Central Bank of India Rs.3,300 crore, UCO Bank Rs.2,100 crore, United Bank of India Rs.1,600 crore, and Punjab & Sind Bank will get about Rs.750 crore.
Sanjeev Rajput secures Olympic quota with silver
Sanjeev Rajput won the silver medal in men’s 50m rifle 3 positions event of the World Cup securing India’s eight quota in shooting for the 2020 Tokyo Olympics.
The 38-year-old shot 462.0 in the eight-man finals to finish second on the podium behind Petar Gorsa of Croatia (462.2).
Sanjeev had been denied a chance to compete in the Rio Olympics after his Olympic quota had been exchanged for a shotgun quota by the National Rifle Association of India.
Now, Sanjeev has joined India’s other quota holders Anjum Moudgil, Apurvi Chandela, Saurabh Chaudhary, Abhishek Verma, Divyansh Singh Panwar, Rahi Sarnobat and Manu Bhaker.
SC Collegium Recommends New Chief Justices for Eight High Courts
The Supreme Court Collegium has recommended names of Chief Justices (CJs) for eight high courts.
Justice Vikram Nath as Chief Justice of Gujarat High Court.
Justice J K Maheshwari as Chief Justice of Andhra Pradesh High Court
Justice Ajai Lamba as Chief Justice of Gauhati High Court
Justice Ravi Shankar Jha as Chief Justice of Punjab and Haryana High Court
Justice L Narayana Swamy as Chief Justice of Himachal Pradesh High Court
Justice S Manikumar as Chief Justice of Kerala High Court
Justice Indrajit Mahanty as Chief Justice of Rajasthan High Court
Justice Arup Kumar Goswami as Chief Justice of Sikkim High Court
SKOCH Governance Gold Award for DAY-NULM
Deendayal Antyodaya Yojana-National Urban Livelihoods Mission (DAY-NULM), has been conferred the prestigious SKOCH Governance Gold Award. It has been conferred the award for its initiative “Portal for Affordable Credit and Interest Subvention Access (PAiSA)”. DAY-NULM is a flagship mission under the Ministry of Housing and Urban Affairs.
PAiSA is a centralized IT platform which simplifies and streamlines release of interest subvention under the Mission. It offers end to end online solution for processing, payment, monitoring and tracking of interest subvention claims from banks on a monthly basis.
Special Tiger Force for Corbett Reserve set up
Uttarakhand Government has decided to for Special Tiger Force for Corbett Tiger Reserve (CTR). This decision was taken by State Cabinet meeting. The force will have 85 posts and will help serve as the much needed second layer of protection for the big cat.
Special Tiger Force (STPF) will be effective in checking illegal human intrusion into the reserve through villages located on its fringes and serve as a second layer of protection for tigers at the CTR.
Uefa Player of the Year: Lucy Bronze and Virgil van Dijk win awards
Liverpool Football player Virgil van Dijk has won UEFA’s Player of the Year award. He beat Barcelona captain Lionel Messi and Juventus superstar Cristiano Ronaldo, while England footballer Lucy Bronze took the Women’s Player of the Year award.
UEFA also handed out positional awards for male players, with Van Dijk for Champions League Defender of the Season.
West Bengal passes bill against mob assault and incidents of lynching
The West Bengal assembly passed on Friday a bill against mob assault and incidents of lynching, with the legislation providing for life imprisonment to those injuring a person and capital punishment for causing death.
In the event of the victim’s death, the perpetrators can be punished with death sentence or rigorous life imprisonment, and a fine up to Rs 5 lakh.
The bill says if anyone is found guilty of publishing, communicating and disseminating any offensive material, either physically or electronically, leading to such incidents, shall be liable to imprisonment up to one year and fine up to Rs 50,000.