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RBI
approves Kotak Mahindra-ING Vysya merger
Corporate
> Kotak
Mahindra-ING Vysya > Apr 01
India's fourth largest
private sector lender is set to be formed as Reserve Bank approves
the merger deal between Kotak Mahindra Bank and ING Vysya. The merged
entity formed after transfer of all the tangible and intangible
assets to Kotak Mahindra Bank, now has 1,214 branches, with a
wide-spread pan-India network. The Rs 15,000 crore merger deal
between Kotak Mahindra and ING Vysya had already received the
Competition Commission's approval earlier this year.
Sania
Mirza – Martina Hingis win Miami Open doubles title
Sports
> Tennis > Apr 06
Indian tennis ace Sania
Mirza won her 25th doubles trophy by clinching the Miami Open doubles
title with Swiss tennis player Matina Hingis on Sunday, 5th April,
2015. The Indo-Swiss pair defeated the Russian duo of Ekaterina
Makarova and Elena Vesnina, the same pair Sania and Martina had
defeated to win the Indian Wells, their first title together. The win
saw the pair climb to the third place in doubles ranking, while Sania
Mirza is just 145 points away from number one rank in the individual
doubles category.
PM
Modi launches India's first Air Quality Index
India
>
First Air Quality Index > Apr 06
An Air Quality Index that
will inform the public about the level of pollution in the air on a
daily basis in real-time has been launched by PM Narendra Modi. This
comes forth as a big step to curb air pollution in India. The index
will be operational in ten cities to start with. At the launch of the
index, PM said India's contribution to the pollution level in the
world was one of the lowest and urged the countrymen to change their
lifestyle in order to help protect the environment.
Massive
immunisation campaign 'Indradhanush' launched
India
> Health > Apr 07
On the occasion of the World
Health Day, India launched 'Mission Indradhanush', which is a massive
vaccination campaign and aims to cover the vaccination of all
children who are non-vaccinated or partially vaccinated against seven
preventable diseases by the year 2020. In its initial phase of April,
2015 to July, 2015 it will cover pregnant women and all children up
to the age of two years. Initially the focus will be on 201
districts, which have been termed as “high priority” and will
cover an additional 297 districts in the latter phase. The Hindi word
'Indradhanush' after which the mission is named means a rainbow and
like its seven colours, will try and prevent seven diseases, namely -
diphtheria, whooping cough, tetanus, polio, tuberculosis, measles and
hepatitis B. Despite providing free vaccination for more than the
past 30 years, only 65% of India's children receive complete
vaccination. The mission aims to cover and sustain at least 90% of
the children by the year 2020.
Others
Biocon
arm Syngene appoints Peter Bains as CEO
Corporate
> Syngene
International > Apr 01
Biotechnology major Biocon's
subsidiary Syngene International has appointed Peter Bains as the CEO
of Syngene. Bains has been serving as director of Syngene, since
2011. Syngene had yesterday said it would set up a new plant at
Mangalore SEZ to manufacture pharma ingredients and agro chemicals
and is in the process of acquiring approximately 40 acres of land in
the SEZ.
RBI's
new provisioning laws for bad loans
Banking
& Insurance >
RBI > Apr 03
Reserve Bank of India's new
provisioning laws will now enable banks to recall the loan and take
recovery action at the earliest or sell non-performing assets (NPAs)
to asset restructuring companies, or ARCs instead of sweeping
defaulters under the carpet. According to the new rule, all new
restructured loans have to be classified as bad loans. The intent of
the new norms is to make promoters more accountable and discourage
willful defaulters. The Indian government, has begun work on a
comprehensive bankruptcy code to provide easy exit for businesses and
improve the country's ranking on the World Bank's 'ease of doing
business' list.
Keshari
Nath Tripathi becomes new governor of Mizoram
India
>
Keshari Nath Tripathi > Apr 04
Guwahati High Court Judge
Justice Miachael Zothankhuma on Saturday sworn in West Bengal
Governor Keshari Nath Tripathi as the Governor of Mizoram at the Raj
Bhavan in Aizwal. He was appointed to the office after the state
governor Aziz Qureshi was sacked by the central government on the
28th of March, 2015. In light of the above decision the Mizo Zirlai
Pawl (MZP) or the students federation staged a protest in front of
the Raj Bhavan and termed the appointment as the centre's move to
treat Mizoram as a gubernatorial dumping ground'. The students also
said that they would stage protests in front of central government
offices and during president Pranab Mukherjee's state visit on the
9th of April, 2015.
Mariyam
Asif Siddiqui, Muslim girl won Bhagwad Gita contest
India
> Bhagwad
Gita contest > Apr 04
A 12 year-old Muslim girl,
Mariyam Asif Siddiqui has secured the first position at the 'Shrimad
Bhagwad Gita Champion League' for best explaining the teachings of
Bhagvad Gita. The class six student of Cosmopolitan High School at
Mira Road near Mumbai won the contest from among 4500 students of 195
schools. The 'Shrimad Bhagwad Gita Champion League' is an
inter-school competition organised by the International Society for
Krishna Consciousness (ISKCON). An English version of the holy book
was given to students for preparing and explaining its teachings. The
competition included recitation of the Bhagvad Gita in English along
with a written test.
National
Geoscience Awards 2013 to be presented by President Pranab Mukherjee
Awards
> National
Geoscience Awards > Apr 04
President Pranab Mukherjee
will present the National Geoscience Awards 2013 at a ceremony to be
held at the Rashtrapati Bhavan on 6th April, 2015. The National
Geoscience Awards were instituted in the year 1966 by the Ministry of
Mines, with an objective to honour scientists for their extraordinary
achievements and outstanding contributions in the field of
fundamental / applied geosciences, mining and allied areas.
Delhi
airport wins Golden Peacock National Quality Award
The Delhi International
Airport Limited (DIAL) has won the prestigious Golden Peacock
National Quality Award for the year 2015. The award will be presented
by UAE's culture, youth and development minister Sheikh Nahyan Bin
Mubarak Al Nahyan at a ceremony to be held in Dubai on the 20th of
April 2015. Golden Peacock Awards were founded by the Institute of
Directors, India in 1991 and are globally regarded as a benchmark of
corporate excellence. The National Quality Award Scheme was
instituted to encourage total quality improvements in both
manufacturing and service sectors of India.
Rajeev
Shukla appointed new IPL chairman
Sports
> Cricket > Apr 06
Rajeev Shukla gets appointed
as the new chairman of Indian Premier League (IPL) Governing Council.
Shukla had previously resigned from the post in June, 2013, following
allegations of corruption and spot-fixing in the tournament. He took
over from Ranjib Biswal, the interim chairman of the council. Former
India captain Sourav Ganguly and current team director Ravi Shastri
were also named in the governing council.
RBI
governor keeps key rates unchanged
India
> Economics > Apr 07
Much to the disappointment
of the markets RBI governor Raghuram Rajan decided to leave key
rates, which affect policy making, unchanged. The Repo Rate, the rate
at which banks borrow money from the RBI remained unchanged at 7.5%
and the Cash Reserve Ratio, which is the minimum amount to be
deposited by banks also remained unchanged at 4%. The governor is
optimistic about home and auto loans getting cheaper as the RBI will
push banks to reduce interest rates. The central bank is also hopeful
about the inflation for March, 2015 to be under 6%, while the economy
is projected to grow at a rate of 5.8% at the end of this fiscal
year.
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