RBI permits regional rural banks to launch internet banking with condition
Reserve Bank of India has allowed rural banks to launch online transaction through internet banking, which is an essential product in new-age banking. RRBs that are profitable and have minimum Rs 100 crore networth and better asset quality will be allowed to offer this service. This decision has been taken to enhance customer service and taking into account demand for such services.
Eligibility for banks to provide internet banking :-
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- Banks with capital adequacy ratio over 10 per cent will be allowed to introduce the online transaction services.
- Banks need to have their gross NPA ratio less than 7 per cent and their net NPA should not exceed 3 per cent
- The bank should have made a net profit in the immediate preceding financial year and overall, should have made net profit at least in three out of the preceding four financial years.
- Shri Kiren Rijiju awarded with Disaster Risk Reduction Asia Champion honour by United Nations
The UN Office for Disaster Risk Reduction (UNISDR) has designated union Minister of State for Home Affairs Kiren Rijiju as Disaster Risk Reduction (DRR) Champion for the Asia Region. The honour was conferred by Margarete Wahlstrom, special representative of the UN Secretary General for Disaster Risk Reduction, during the inaugural session of the Asia Leaders' Meeting towards Implementation of the Sendai Framework for DRR in Asia. The function was attended by Afghanistan, China, Indonesia, Japan, Mongolia, South Korea and Thailand ministers and delegates from various countries and international organizations.>Login To Save for Revision
- Infosys completes acquisition of Noah Consulting
The country's second-largest software services company Infosys has announced the completion of acquisition of Noah Consulting, LLC a provider of advanced information management consulting services for the oil and gas industry. The acquisition is in accordance with the terms set out in the agreement announced by the company on October 19, 2015
Last month, Infosys had announced the acquisition of Noah Consulting for USD 70 million (about Rs 453.5 crore) in an all-cash deal. The acquisition positioned Infosys to offer end-to-end data management services to oil and gas companies globally.
About Noah Consulting :-
Noah has expertise in information strategy planning, data governance and architecture capabilities which will be combined with Infosys' ability to provide technology and outsourcing services that will offer clients in the oil and gas industry next-generation data analytics solutions.Noah headquartered in Texas was founded in 2008. It has 122 employees and two offices in Houston and Calgary as well as projects in other global markets.>Login To Save for Revision
- Tata Steel commissions first phase of Kalinganagar plant in Odisha
Indian steel major Tata Steel has commissioned the first phase (3 million tonnes per annum) of its 6 MTPA of its integrated steel plant at Kalinganagar steel plant the largest single-location greenfield steel project in India. With the commissioning of the plant, Tata Steel’s capacity to produce crude steel in India has touched 13 MTPA.
Tata Steel has plans to expand the plant’s capacity to 16 MTPA by 2025 with the cumulative investment amounting to Rs.1,00,000 crore. Eariler in 2004, Tata Steel had inked a MoU with the Odisha government to set up this steel plant. It is state-of-the-art plant, which will produce world-class flat and lighter, high-tensile strength steel. The plant was dedicated to the nation by Chief Minister Naveen Patnaik, in the presence of Tata Sons Chairman Cyrus P Mistry and Tata Steel Managing Director T. V. Narendran.
Facts about the Plant:-
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- The plant has been built at an investment of over Rs.25,000 crore in the first phase, the Kalinganagar plant boasts of India’s largest blast furnace at 4,330 cubic meter with production capacity of 3.2 MTPA.
- The Plant will have seamless movement of raw material with its twin wagon tippler, the first installation in India having unloading capacity of 20 MTPA.
- The steel plant claims to have the most advanced carbon hearth technology along with on-site power generation of 202 MW through gases discharged by coke oven and blast furnace. The company will also invest Rs.2,300 crore for scaling up of the capacity of its captive Khandabandh iron ore mine.
- 50 districts in Uttar Pradesh declared drought-hit
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- As many as 50 of the 75 districts of Uttar Pradesh declared drought-hit by Chief Minister Akhilesh Yadav and revenue realisation have been suspended in these districts.
- Only 53.50 per cent rainfall was recorded between June to September 30 in these districts. In 33 of these districts, rainfall of 40 to 60 per cent was recorded while, in 16 districts, it was below 40 per cent. Among the districts declared drought-hit are Faizabad, Jhansi, Sant Ravidasnagar, Lucknow, Allahabad, Mirzapur, Ballia and Ghaziabad.
- Extensive relief measures have been ordered by the chief minister and departments like irrigation, rural development, panchayati raj, agriculture, social welfare, institutional finance, animal husbandry and health have been asked to execute special schemes to mitigate the problems faced by farmers in these areas.
- Former Gujarat Governor and CEC RK Trivedi no more
- Former Gujarat Governor and and Chief Election Commissioner (CEC) RK Trivedi passed away in Lucknow, Uttar Pradesh after prolonged illness. He was 94.
- Trivedi served, who served as the Chief Election Commissioner from 18 June 1982 to 31 December 1985, was the first person to introduce the voter ID cards in Indian Elections.
- He had joined civil services in 1943 and after serving the state as district magistrates in some districts, he had a long stint at the Centre. Trivedi was made Central Vigilance Commissioner in October 1980 and in June 1982, he took over as the CEC. He was Gujarat Governor between 1986 and 1990.
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