1. HAL signs MoU with Defence Ministry: Hindustan
Aeronautics Limited (HAL) came
into an agreement with the Ministry of Defencefor the financial year 2017-18. The annual MoUis signed between Ashok Kumar
Gupta, Secretary, Department of Defence Production and T SuvarnaRaju,
CMD-HAL.The MoU has outlined targets on various performance parameters of the
company during the year 2017-18. The revenue from operations has been targeted
at Rs. 17,900 crore, the highest ever.
2. Chhattisgarh
govt to merge regional Co-operative Banks into State Co-Operative Bank:
The
Chhattisgarh state govt. is
set to
merge all regional Co-Operative Banks into a mega-State Co-Operative Bank.The 264 branches will remain functional and will
here on work as Scheduled Co-Operative Banks.The decision has been taken to provide a number of
advantage to farmers as will get modern facilities including core banking, mobile and internet banking. It will also help in reducing the
interests on farm loans by up to 2%.
3. 36th Foundation Day of
NABARD celebrated: The
36th NABARD Foundation Day and Silver Jubilee of SHG Bank Linkage Programme was
inaugurated by Union Finance Minister Arun Jaitley, in New Delhi. Self Help
Group Bank Linkage Programme (SHG BLP) is a pioneering initiative of Financial
Inclusion by NABARD. The pilot stage of this program was started in year 1992.
4. Maharashtra, first state
in the country to launch free injectable contraceptive for women: The state’s public health department
launched a program called “Antara” making it the first state in the country to
provide women an injectable contraceptive for free. It offers women an
injection of Medroxyprogesterone acetate (MPA), a birth-control hormone. The
announcements were made on the occasion of World Population Day (11th July).
According to state health officials, the injection, a safe means of birth
control, is effective for three months. The injection will be given
intramuscularly to women in the age bracket of 18-45 years.
5. Subhash Garg appointed as Economic Affairs Secretary: Senior
bureaucrat Subhash Chandra Garg assumed charge as Secretary of the Department
of Economic Affairs (DEA) in the Finance Ministry. Prior to this appointment Mr.
Garg was World Bank Executive Director for Bangladesh, Bhutan, India, and Sri
Lanka. He succeeds Shaktikanta Das, who retired after an extended tenure on May
31.
6. Debi Prasad Dash takes
over as DRI chief: Debi
Prasad Dash has been appointed as director-general of the Directorate of
Revenue Intelligence (DG-DRI), the premier agency that tackles smuggling and
black money. Mr. Dash was the acting DRI chief for the past five months. He has
earlier worked in the UN Security Council, Commonwealth Secretariat, and the
CBI.
OTHER UPDATES
BANKING AND
FINANCE:
1. SEBI
amends guidelines for foreign investors looking to operate at IFSC: Markets
regulator Securities and
Exchange Board of India (SEBI) has revised the guidelines for
eligible foreign investors looking to operate at the International Financial
Services Centre (IFSC). From
now onwards a trading member of a stock exchange in the IFSC can carry out the due
diligence for an eligible foreign investor (EFI), who is not registered with
the regulator as a Foreign Portfolio Investor (FPI).The provision has been made
for the account opening process of an eligible foreign investor (EFI).
2.
Bank of Baroda to raise up to
Rs 3,000 Cr via Basel III bonds: Bank of Baroda (BoB) has decided to raise up to
Rs. 3,000 crores through Basel III compliant bonds.The finance committee of the
bank approved to the issuance of AT-1 capital bonds compliant with Basel III
capital regulations for a minimum amount of Rs. 500 crores with green shoe
option.The raising of funds will be in single or multiple tranches.
3. SBI waives charge on IMPS fund transfer of up to Rs
1,000: State Bank of India (SBI) has waived charges for fund
transfer of up to Rs. 1,000 through its IMPS (Immediate Payment Service) to
promote small transactions.Earlier, SBI had been charging Rs. 5 along with the
applicable service tax for IMPS fund transfer of up to Rs. 1,000.For IMPS, a
charge will be Rs. 5 along GST for fund transfer in the range of Rs.
1,000 to Rs. 1 lakh and the charge will go up to Rs. 15 for transactions of Rs.
1-2 lakhs.GST at the rate of 18% is applicable on all financial transactions.
SPORTS
4. Ravi Shastri is new coach of Indian Cricket Team: All-rounder and captain Ravi Shastrihas been
appointed as the new chief coach of the Indian cricket team till ICC
World Cup 2019 by the Board of Control for Cricket in India (BCCI).Former fast
bowler Zaheer Khan has also been appointed as bowling coach for a period of two
years. Former Indian Captain Rahul Dravid has been appointed as batting
consultant for specific overseas tours.
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