Tuesday, May 26, 2015

Starred Articles

SBI ties up with Snapdeal, PayPal in a single day
Corporate > SBI > May 21
Just a day after joining hands with Amazon to develop payment solutions for customers and small businesses, SBI has signed MoUs with Snapdeal and PayPal. The deal with Paypal will allow SBI debit card holders to use a digital payment gateway for buying products from foreign websites and also enable micro, small and medium enterprises (MSME) customers to access a secure payment solution. Its second deal with Snapdeal will allow SBI to provide finance to the sellers who sell products on the e-commerce platform. Both the deals are targeted to boost micro, small and medium enterprises (MSME) businesses. SBI hopes to fufill the Prime Minister's dream of `Make in India' and digital India through such deals.

Mohan Kumar appointed as the new defence secretary
India > Defence > May 22
1979 batch IAS officer from Odisha, G Mohan Kumar is all set to become the new defence secretary of India, after incumbent R K Mathur's retirement. Kumar was the front runner for the post as he was a pivotal member of the PM's 'Make in India' campaign of which defence was a vital cog. The Appointments Committee of the Cabinet also appointed Ashok Kumar Gupta, a 1981 batch Tamil Nadu officer, as the new secretary of defence production, who will eventually succeed Mohan Kumar.

UN observes International Day for Biological Diversity
Days > International Day for Biological Diversity > May 22
International Day for Biological Diversity (IBD) was observed on the 22nd of May, 2015 by the United Nations (UN), with this year's theme being Biodiversity for Sustainable Development. The theme highlights the relevance of biodiversity in achieving the goal of sustainable development. The first International Day for Biological Diversity (IDB) was observed on the 22nd of December 2000 to increase understanding and awareness of biodiversity issues.

Tourists from China, Japan may get to use ATMs here
Banking and Insurance > ATMs > May 22
Reserve Bank of India-promoted NPCI has entered into an agreement with China Union Pay and Japan Credit Bureau in order to enable Chinese and Japanese tourists in India to use local ATM and point of sale terminals. Apart from the international debit card to be launched next month, the National Payments and Settlement Corporation of India (NPCI) is also readying to launch credit cards and implement the Bharat Bill Payment system to facilitate cashless transactions.


PVR set to acquire DLF's DT Cinemas
Corporate > PVR Cinemas > May 20
India's largest multiplex operator PVR cinemas is reportedly in the process of acquisition of the wholly-owned subsidiary of DLF, DT Cinemas. The deal is likely to value DLF at about Rs 500 crore. A debt of about Rs 20,500 crore has compelled DLF to exit from DT Cinemas business. Both the parties are likely to approach the Competition Commission of India (CCI) for in-principle approval as PVR Cinemas is the market leader. However, neither of them has commented on the market speculations.

Worldpay to enter Indian market in association with IndusInd Bank
Banking and Insurance > IndusInd Bank > May 20
The Uk-based payment processing giant Worldpay will now be able to provide services in India in association with IndusInd Bank. The pact will mark the first step for Worldpay in entering Indian market as a result of growth in ecommerce across the industry. The association is expected to allow each company to benefit from the other's respective expertise in domestic and international payments and contribute to the growth of the ever-growing Indian ecommerce industry.

India ranks 24th on the first Environmental Democracy Index
India > Environmental Democracy Index > May 21
India has managed to secure the 24th position out of a total of 70 countries in the world's first Environmental Democracy Index. The index evaluates nations' progress in enacting laws to promote transparency, accountability and citizen engagement in environmental decision making. The index, which is topped by Lithuania, is a powerful lever that will help governments to become more transparent and allow ordinary citizens to advocate for more rights pertaining to the environment.

Saina Nehwal regains top spot in World Badminton rankings
Sports > Badminton > May 21
Indian badminton player Saina Nehwal regained the number one spot in rankings after temporarily slipping from the position last month. The female ace shuttler had reached the top of the rankings early last month on the virtue of a grand slam victory, which she subsequently lost due to ranking fluctuations. But, the Olympic bronze medalist regained the coveted spot to go as the top ranked player into the Australian Open, starting on the 26th of May, 2015.

Wipro receives Microsoft's Supplier of the year award
Awards > Technology > May 21
Indian IT major Wipro was honoured by Microsoft with 'Supplier of the Year award' for its demonstration of excellence across multiple disciplines. Wipro has been associated with Microsoft for years, demonstrating its commitment to excellence, innovation and collaboration. With its high impact results, Wipro has been a major factor in the success of Microsoft. Award winners were based on excellence in a number of areas, including quality, value, service and innovation.

Indian Banks Association to sign revised wages pact with banks union
Banking and Insurance > Wage Revision > May 22
The banking regulation body Indian Banks Association (IBA) will formally sign the wage revision pact with (United Forum of Bank Unions) UFBU, which will benefit 8.5 lakh employees from state-run banks, old private banks and some foreign banks. According to the pact, employees will receive a 15% hike in their salaries, which will cost a total of Rs. 4725 crore to the banking sector.

Janalalithaa sworn-in as Tamil Nadu CM for the fifth time
Politics and Government > Jayalalithaa > May 22
The 'caretaker CM' of Tamil Nadu O Panneerselvam handed over his resignation to Governor K Rosiah, making way for AIADMK chief J Jayalalithaa to take over the position of Chief Minister of Tamil Nadu. Jayalalithaa was swornin for a fifth time as chief-minister of Tamil Nadu on 23rd May, 2015.
In September last year, Jayalalitha was disqualified as MLA and had to step down as CM after a Bengaluru special court convicted her and three others in a disproportionate assets case and sentenced them to five years' imprisonment. Following this, Panneerselvam stepped in and served a brief eight-month term as CM. On May, 11, 2015, the Karnataka High Court acquitted Jayalaithaa in the case and prompted her return as CM.

Indian film ‘Masaan’ wins Fipresci Award at Cannes
Awards > Cannes Film Festival > May 24
Indian film-maker Neeraj Ghaywan’s film “Masaan” was awarded the International Federation of Film Critics (Fipresci) award at the 68th Cannes International Film Festival on Saturday, 23rd May, 2015. Masaan is Ghaywan’s debut feature film set in Varanasi and is based on the lives of four people. It also features Bollywood star Richa Chada.

Psychometric tests mandatory for candidates vying for top positions at PSU banks
Banking and Insurance > Bank Recruitment > May 25
Aspiring job seekers for top posts at public sector banks will have to undergo two psychometric tests, which will be a part of three stage selection process, which will also include a background check and personal interview. The RBI has hired global management consulting firm Hay Group to shortlist managing director and CEOs for five PSBs. The intent of the psychometric tests is to evaluate a candidate's leadership qualities, situational judgement capability and overall personality traits.

ICICI launches voice password facility for users
Banking and Insurance > ICIC Bank > May 25
In a first, customers of ICICI Bank will now be able to make transactions using their voice only with the new voice recognition service launched by the bank. The service will authenticate the customers based on their speech patterns and act as a password for them to perform transactions through the bank's call centre. This hands-free alternative is set to enhance the everyday banking experience of the customers.

Mumbai Indians beat Chennai Super Kings to win IPL 2015
Sports > IPL 2015 > May 25
Mumbai Indians won IPL-8 by defeating Chennai Super Kings at the Eden Gardens, Kolkata. While MI scored 202/5, the second-highest score in an IPL final, CSK laboured to 161/8 in their 20 overs, falling short by 41 runs. MI thus joined Kolkata Knight Riders and CSK to become the third team to win the IPL twice. In a surprisingly similar scenario, Mumbai Indians had beaten CSK in the final at Eden Gardens to the win the IPL in 2013.

Sangakkara named CEAT International Cricketer of the Year; Rahane is Indian Cricketer of the Year
Sports > Cricket > May 26
India's Ajinkya Rahane won the CEAT Indian Cricketer of the Year award while former Sri Lanka captain Kumar Sangakkara won the International Cricketer of the Year honour at a ceremony organised on May 25. Kapil Dev was conferred with the International Lifetime Achievement Award at the 19th edition of the CEAT awards. The awards honoured the best of cricketers based on their performances in international cricketing in all formats - Test, ODI and T20 - as rated by the CEAT Cricket ratings (CCR) for the year 2014 – 2015.

Employees to transfer their dormant PF accounts
Economy > Provident Fund > May 26
According to data from the Employees Provident Fund Organisation (EPFO), Rs. 27000 crores is lying inoperative in dormant Employees Provident Fund Accounts. Owing to the above reason, the government decided not to accrue interest on the amounts of such accounts, which remain dormant for more than 36 months. The government has asked employees to transfer their dormant bank accounts and EPFO has recently set up an online help desk to enable people to settle or transfer their dormant accounts.


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