1. Jean Tirole wins 2014 Nobel Prize for Economics
French economist Jean Tirole won the 2014 economics Nobel Prize for his analysis of market power and regulation, the Royal Swedish Academy of Sciences said on Monday.
"Jean Tirole is one of the most influential economists of our time," the award-giving body said. "Most of all he has clarified how to understand and regulate industries with a few powerful firms."
The economist will receive an 8 million Swedish crown ($1.1 million) prize.
The economics prize, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968. It was not part of the original group of awards set out in dynamite tycoon Nobel's 1895 will. (1 US dollar = 7.1780 Swedish crown)
2. Kotak Mahindra Bank launches Facebook-based money transfer
Private sector lender Kotak Mahindra Bank (KMB) on Monday launched a Facebook-based instant fund transfer service wherein one can send money to friends on the social media network real time, for free.
“This is a bank agnostic product, the sender and the receiver may not be our account holders. We have used the IMPS platform on the National Payments Corporation of India (NPCI) network to make this possible,” KMB’s executive vice president and head of digital initiatives, Deepak Sharma, told PTI over phone.
At present, a sender can initiate fund transfer to any person through mobile phone, courtesy the IMPS infrastructure.
The IMPS platform has 28 banks under it and account holders of any of these banks can use the newly launched service, Mr. Sharma said, adding that there will be no charges for either sending or receiving the money.
3. Asia Index launches new indices
Asia Index Pvt Ltd (AIPL), a joint venture between S&P Dow Jones Indices LLC and BSE Ltd, on Monday announced the launch of two more indices for investors in Indian market.
The S&P BSE Sensex Futures Index will help investors track the returns generated from investment in the near-month (one month) futures contract on S&P BSE Sensex traded on the BSE.
The index includes a provision for replacement of the index futures contract as it approaches maturity (also referred to as “rolling” or “the roll”).
This replacement occurs over a one-day rolling period every month, which is one business day prior to the expiration of the futures contract.
AIPL also launched the S&P BSE CPSE Index. CPSE refers to Central Public Sector Enterprises and does not include the public sector banks.
The CPSE index is designed to serve as a comprehensive benchmark to help investors track the performance of public sector companies listed on the BSE.
The index comprises CPSEs where the direct holding of the Central Government is 51 per cent or more.
“The launch of the S&P BSE Sensex Futures Index and the S&P BSE CPSE Index is a reflection of Indian investor appetite for transparent and innovative benchmarks measuring the Indian market,” said Alka Banerjee, CEO, Asia Index Pvt Ltd.
4. Tourism Ministry setting up culinary institute in Tirupati
The Union Ministry of Tourism is setting up an Indian Culinary Institute at Tirupati in Andhra Pradesh as one of the several initiatives taken to promote support system for the Indian tourism industry.
The National Council for Hotel Management and Catering recently entered into an agreement with Lausanne Hospitality Consultancy (LHC), an arm of Lausanne Hotel School.
Shripad Yesso Naik, Minister of State of Tourism and Culture, said this at a MCC Chamber of Commerce & Industry event here on Monday. He said the proposed culinary institute, to be set up as not-for-profit Central autonomous society would work for “preservation of heritage Indian Cuisine”.
The institute would research, document, achieve and impart knowledge as also train on the subjects related to traditional dishes of various parts of India. “It will serve as a resource centre in its subject domain, conforming to international benchmarks," the Minister said.
5. Harika best woman in Poker Masters Chess
Grandmaster and former world junior champion D Harika
was adjudged the best woman player after she settled for a draw with Alon Mindlin of Israel in the ninth and final round of Poker Masters Isle of Man Chess tournament that concluded in Isle of Man, United Kingdom.
Harika knew that a draw would be enough for the first place and did not exert much in the last game of the tournament. The Indian finished with 5.5 points -- enough to clinch the top prize in the women’s category (2000 pounds).
Grandmaster Nigel Short of England won the tournament with an impressive victory over overnight joint leader and compatriot David Howell in the final round.
6. Pietersen salutes ‘genuine guru’ Dravid in autobiography
Maverick England batsman Kevin Pietersen struggled to get along with coaches of his own team most of his playing career and his quest for a “genuine guru” ended in faraway India where, he says, former captain Rahul Dravid made a lasting impact on his technique.
In his autobiography ‘KP’ released here this week, Pietersen refers repeatedly to an e-mail the Indian batting legend wrote to him about playing spinners which made a massive difference to him.
“Rahul was a great and heroic Indian batsman in his day. He is also a genius at dealing with spin bowlers. Our conversations and emails were a private masterclass from a genuine guru,” Pietersen writes in the book.
7. Nabard launches dairy development project in Madurai
he National Bank for Agriculture and Rural Development (Nabard) launched the ‘Integrated Dairy Development Project in Sindhupatti Watershed under its Umbrella Programme on Natural resources Management (UPNRM) in Madurai District, recently.
UPNRM is a special window operated by Nabard with micro finance and grant components aimed at giving fillip to eco-friendly income generation activities, especially in Nabard’s Watershed project areas.
R Amalorpavanathan, Deputy Managing Director, Nabard, launching the programme at Udayanpatti village in Chellampatti Block in the district, said that in a scenario where monsoon is playing truant, farmers need to look to multiple sources of income with a basket of diversified activities. He exhorted the farmers to scale up to the next level with the help of integrated dairy-related activities envisaged under one umbrella and bestow attention on the precious water bodies without waiting for the government machinery to take up conservation works. He also referred to some of the projects already under implementation in Madurai under UPNRM such as Sustainable livelihood for Broom stick makers in Kallikudi block, improving the livelihood of Thatch makers in Sekkipatti and Eco friendly agriculture in Sirumalai Hills.
8. Tharoor removed as Congress spokesperson over Modi praise
Congress MP Shashi Tharoor was on Monday removed as AICC spokesperson over his praise for Prime Minister Narendra Modi.
Tharoor's removal was recommended by a Congress disciplinary committee, which was later accepted by party president Sonia Gandhi.
The disciplinary panel took up the issue following a complaint by the Congress' Kerala unit that his participation in the prime minister's Swachh Bharat mission upset party workers.
The report of the Kerala unit had held that Tharoor's adulatory statements about Modi had hurt Congress workers in Kerala, who had worked sincerely for his victory from Thiruvananthapuram Lok Sabha seat.
9. Cyclone Hudhud weakens in Andhra, Odisha; govts step up rescue efforts
As Cyclone Hudhud weakened moving north-westward, the governments of Andhra Pradesh and Odisha on Monday focused on bringing life back to normal in the affected districts following damage to infrastructure and shortage of essential commodities.
An alert for heavy to very heavy rainfall has been sounded in districts of Visakhapatnam, Srikakulam and Vizianagaram and in some parts of Odisha, where the cyclone claimed eight lives so far before heading to Chhattisgarh.
Over 2.48 lakh people in 320 villages of 44 mandals (blocks) have been affected by the cyclone in Andhra Pradesh.
As many as 1,35,262 persons have been evacuated and accommodated in 223 relief camps.
According to the state's revenue (disaster management) department, five persons were killed in incidents of wall and roof collapses and uprooting of trees in the region.
10. SEBI bars DLF, six top executives from markets for 3 years
Regulator SEBI has barred realty major DLF, as also six top executives including Chairman K.P. Singh, from securities markets for three years, after finding the company guilty of “active and deliberate suppression” of material information at the time of its public offer.
Those prohibited from the markets including Mr. Singh’s son Rajiv Singh (Vice Chairman) and daughter Pia Singh (Whole Time Director), SEBI said in its order.
“I find that the case of active and deliberate suppression of any material information so as to mislead and defraud the investors in the securities market in connection with the issue of shares of DLF in its IPO is clearly made out in this case,” SEBI’s Whole-Time Member Rajeev Agarwal said in his 43-page order.
“I am satisfied that the violations as found in this case are grave and have larger implications on the safety and integrity of the securities market. In my view, for the serious contraventions as found in the instant case, effective deterrent actions to safeguard the market integrity. It, therefore, becomes incumbent to deal with contraventions, digression and demeanour of the erring Noticees sternly and take appropriate actions for effective deterrence,” Mr. Agarwal said.
French economist Jean Tirole won the 2014 economics Nobel Prize for his analysis of market power and regulation, the Royal Swedish Academy of Sciences said on Monday.
"Jean Tirole is one of the most influential economists of our time," the award-giving body said. "Most of all he has clarified how to understand and regulate industries with a few powerful firms."
The economist will receive an 8 million Swedish crown ($1.1 million) prize.
The economics prize, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968. It was not part of the original group of awards set out in dynamite tycoon Nobel's 1895 will. (1 US dollar = 7.1780 Swedish crown)
2. Kotak Mahindra Bank launches Facebook-based money transfer
Private sector lender Kotak Mahindra Bank (KMB) on Monday launched a Facebook-based instant fund transfer service wherein one can send money to friends on the social media network real time, for free.
“This is a bank agnostic product, the sender and the receiver may not be our account holders. We have used the IMPS platform on the National Payments Corporation of India (NPCI) network to make this possible,” KMB’s executive vice president and head of digital initiatives, Deepak Sharma, told PTI over phone.
At present, a sender can initiate fund transfer to any person through mobile phone, courtesy the IMPS infrastructure.
The IMPS platform has 28 banks under it and account holders of any of these banks can use the newly launched service, Mr. Sharma said, adding that there will be no charges for either sending or receiving the money.
3. Asia Index launches new indices
Asia Index Pvt Ltd (AIPL), a joint venture between S&P Dow Jones Indices LLC and BSE Ltd, on Monday announced the launch of two more indices for investors in Indian market.
The S&P BSE Sensex Futures Index will help investors track the returns generated from investment in the near-month (one month) futures contract on S&P BSE Sensex traded on the BSE.
The index includes a provision for replacement of the index futures contract as it approaches maturity (also referred to as “rolling” or “the roll”).
This replacement occurs over a one-day rolling period every month, which is one business day prior to the expiration of the futures contract.
AIPL also launched the S&P BSE CPSE Index. CPSE refers to Central Public Sector Enterprises and does not include the public sector banks.
The CPSE index is designed to serve as a comprehensive benchmark to help investors track the performance of public sector companies listed on the BSE.
The index comprises CPSEs where the direct holding of the Central Government is 51 per cent or more.
“The launch of the S&P BSE Sensex Futures Index and the S&P BSE CPSE Index is a reflection of Indian investor appetite for transparent and innovative benchmarks measuring the Indian market,” said Alka Banerjee, CEO, Asia Index Pvt Ltd.
4. Tourism Ministry setting up culinary institute in Tirupati
The Union Ministry of Tourism is setting up an Indian Culinary Institute at Tirupati in Andhra Pradesh as one of the several initiatives taken to promote support system for the Indian tourism industry.
The National Council for Hotel Management and Catering recently entered into an agreement with Lausanne Hospitality Consultancy (LHC), an arm of Lausanne Hotel School.
Shripad Yesso Naik, Minister of State of Tourism and Culture, said this at a MCC Chamber of Commerce & Industry event here on Monday. He said the proposed culinary institute, to be set up as not-for-profit Central autonomous society would work for “preservation of heritage Indian Cuisine”.
The institute would research, document, achieve and impart knowledge as also train on the subjects related to traditional dishes of various parts of India. “It will serve as a resource centre in its subject domain, conforming to international benchmarks," the Minister said.
5. Harika best woman in Poker Masters Chess
Grandmaster and former world junior champion D Harika
was adjudged the best woman player after she settled for a draw with Alon Mindlin of Israel in the ninth and final round of Poker Masters Isle of Man Chess tournament that concluded in Isle of Man, United Kingdom.Harika knew that a draw would be enough for the first place and did not exert much in the last game of the tournament. The Indian finished with 5.5 points -- enough to clinch the top prize in the women’s category (2000 pounds).
Grandmaster Nigel Short of England won the tournament with an impressive victory over overnight joint leader and compatriot David Howell in the final round.
6. Pietersen salutes ‘genuine guru’ Dravid in autobiography
Maverick England batsman Kevin Pietersen struggled to get along with coaches of his own team most of his playing career and his quest for a “genuine guru” ended in faraway India where, he says, former captain Rahul Dravid made a lasting impact on his technique.
In his autobiography ‘KP’ released here this week, Pietersen refers repeatedly to an e-mail the Indian batting legend wrote to him about playing spinners which made a massive difference to him.
“Rahul was a great and heroic Indian batsman in his day. He is also a genius at dealing with spin bowlers. Our conversations and emails were a private masterclass from a genuine guru,” Pietersen writes in the book.
7. Nabard launches dairy development project in Madurai
he National Bank for Agriculture and Rural Development (Nabard) launched the ‘Integrated Dairy Development Project in Sindhupatti Watershed under its Umbrella Programme on Natural resources Management (UPNRM) in Madurai District, recently.
UPNRM is a special window operated by Nabard with micro finance and grant components aimed at giving fillip to eco-friendly income generation activities, especially in Nabard’s Watershed project areas.
R Amalorpavanathan, Deputy Managing Director, Nabard, launching the programme at Udayanpatti village in Chellampatti Block in the district, said that in a scenario where monsoon is playing truant, farmers need to look to multiple sources of income with a basket of diversified activities. He exhorted the farmers to scale up to the next level with the help of integrated dairy-related activities envisaged under one umbrella and bestow attention on the precious water bodies without waiting for the government machinery to take up conservation works. He also referred to some of the projects already under implementation in Madurai under UPNRM such as Sustainable livelihood for Broom stick makers in Kallikudi block, improving the livelihood of Thatch makers in Sekkipatti and Eco friendly agriculture in Sirumalai Hills.
8. Tharoor removed as Congress spokesperson over Modi praise
Congress MP Shashi Tharoor was on Monday removed as AICC spokesperson over his praise for Prime Minister Narendra Modi.
Tharoor's removal was recommended by a Congress disciplinary committee, which was later accepted by party president Sonia Gandhi.
The disciplinary panel took up the issue following a complaint by the Congress' Kerala unit that his participation in the prime minister's Swachh Bharat mission upset party workers.
The report of the Kerala unit had held that Tharoor's adulatory statements about Modi had hurt Congress workers in Kerala, who had worked sincerely for his victory from Thiruvananthapuram Lok Sabha seat.
9. Cyclone Hudhud weakens in Andhra, Odisha; govts step up rescue efforts
As Cyclone Hudhud weakened moving north-westward, the governments of Andhra Pradesh and Odisha on Monday focused on bringing life back to normal in the affected districts following damage to infrastructure and shortage of essential commodities.
An alert for heavy to very heavy rainfall has been sounded in districts of Visakhapatnam, Srikakulam and Vizianagaram and in some parts of Odisha, where the cyclone claimed eight lives so far before heading to Chhattisgarh.
Over 2.48 lakh people in 320 villages of 44 mandals (blocks) have been affected by the cyclone in Andhra Pradesh.
As many as 1,35,262 persons have been evacuated and accommodated in 223 relief camps.
According to the state's revenue (disaster management) department, five persons were killed in incidents of wall and roof collapses and uprooting of trees in the region.
10. SEBI bars DLF, six top executives from markets for 3 years
Regulator SEBI has barred realty major DLF, as also six top executives including Chairman K.P. Singh, from securities markets for three years, after finding the company guilty of “active and deliberate suppression” of material information at the time of its public offer.
Those prohibited from the markets including Mr. Singh’s son Rajiv Singh (Vice Chairman) and daughter Pia Singh (Whole Time Director), SEBI said in its order.
“I find that the case of active and deliberate suppression of any material information so as to mislead and defraud the investors in the securities market in connection with the issue of shares of DLF in its IPO is clearly made out in this case,” SEBI’s Whole-Time Member Rajeev Agarwal said in his 43-page order.
“I am satisfied that the violations as found in this case are grave and have larger implications on the safety and integrity of the securities market. In my view, for the serious contraventions as found in the instant case, effective deterrent actions to safeguard the market integrity. It, therefore, becomes incumbent to deal with contraventions, digression and demeanour of the erring Noticees sternly and take appropriate actions for effective deterrence,” Mr. Agarwal said.
1. Jean Tirole wins 2014 Nobel Prize for Economics
French economist Jean Tirole won the 2014 economics Nobel Prize for his analysis of market power and regulation, the Royal Swedish Academy of Sciences said on Monday.
"Jean Tirole is one of the most influential economists of our time," the award-giving body said. "Most of all he has clarified how to understand and regulate industries with a few powerful firms."
The economist will receive an 8 million Swedish crown ($1.1 million) prize.
The economics prize, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968. It was not part of the original group of awards set out in dynamite tycoon Nobel's 1895 will. (1 US dollar = 7.1780 Swedish crown)
2. Kotak Mahindra Bank launches Facebook-based money transfer
Private sector lender Kotak Mahindra Bank (KMB) on Monday launched a Facebook-based instant fund transfer service wherein one can send money to friends on the social media network real time, for free.
“This is a bank agnostic product, the sender and the receiver may not be our account holders. We have used the IMPS platform on the National Payments Corporation of India (NPCI) network to make this possible,” KMB’s executive vice president and head of digital initiatives, Deepak Sharma, told PTI over phone.
At present, a sender can initiate fund transfer to any person through mobile phone, courtesy the IMPS infrastructure.
The IMPS platform has 28 banks under it and account holders of any of these banks can use the newly launched service, Mr. Sharma said, adding that there will be no charges for either sending or receiving the money.
3. Asia Index launches new indices
Asia Index Pvt Ltd (AIPL), a joint venture between S&P Dow Jones Indices LLC and BSE Ltd, on Monday announced the launch of two more indices for investors in Indian market.
The S&P BSE Sensex Futures Index will help investors track the returns generated from investment in the near-month (one month) futures contract on S&P BSE Sensex traded on the BSE.
The index includes a provision for replacement of the index futures contract as it approaches maturity (also referred to as “rolling” or “the roll”).
This replacement occurs over a one-day rolling period every month, which is one business day prior to the expiration of the futures contract.
AIPL also launched the S&P BSE CPSE Index. CPSE refers to Central Public Sector Enterprises and does not include the public sector banks.
The CPSE index is designed to serve as a comprehensive benchmark to help investors track the performance of public sector companies listed on the BSE.
The index comprises CPSEs where the direct holding of the Central Government is 51 per cent or more.
“The launch of the S&P BSE Sensex Futures Index and the S&P BSE CPSE Index is a reflection of Indian investor appetite for transparent and innovative benchmarks measuring the Indian market,” said Alka Banerjee, CEO, Asia Index Pvt Ltd.
4. Tourism Ministry setting up culinary institute in Tirupati
The Union Ministry of Tourism is setting up an Indian Culinary Institute at Tirupati in Andhra Pradesh as one of the several initiatives taken to promote support system for the Indian tourism industry.
The National Council for Hotel Management and Catering recently entered into an agreement with Lausanne Hospitality Consultancy (LHC), an arm of Lausanne Hotel School.
Shripad Yesso Naik, Minister of State of Tourism and Culture, said this at a MCC Chamber of Commerce & Industry event here on Monday. He said the proposed culinary institute, to be set up as not-for-profit Central autonomous society would work for “preservation of heritage Indian Cuisine”.
The institute would research, document, achieve and impart knowledge as also train on the subjects related to traditional dishes of various parts of India. “It will serve as a resource centre in its subject domain, conforming to international benchmarks," the Minister said.
5. Harika best woman in Poker Masters Chess
Grandmaster and former world junior champion D Harika
was adjudged the best woman player after she settled for a draw with Alon Mindlin of Israel in the ninth and final round of Poker Masters Isle of Man Chess tournament that concluded in Isle of Man, United Kingdom.
Harika knew that a draw would be enough for the first place and did not exert much in the last game of the tournament. The Indian finished with 5.5 points -- enough to clinch the top prize in the women’s category (2000 pounds).
Grandmaster Nigel Short of England won the tournament with an impressive victory over overnight joint leader and compatriot David Howell in the final round.
6. Pietersen salutes ‘genuine guru’ Dravid in autobiography
Maverick England batsman Kevin Pietersen struggled to get along with coaches of his own team most of his playing career and his quest for a “genuine guru” ended in faraway India where, he says, former captain Rahul Dravid made a lasting impact on his technique.
In his autobiography ‘KP’ released here this week, Pietersen refers repeatedly to an e-mail the Indian batting legend wrote to him about playing spinners which made a massive difference to him.
“Rahul was a great and heroic Indian batsman in his day. He is also a genius at dealing with spin bowlers. Our conversations and emails were a private masterclass from a genuine guru,” Pietersen writes in the book.
7. Nabard launches dairy development project in Madurai
he National Bank for Agriculture and Rural Development (Nabard) launched the ‘Integrated Dairy Development Project in Sindhupatti Watershed under its Umbrella Programme on Natural resources Management (UPNRM) in Madurai District, recently.
UPNRM is a special window operated by Nabard with micro finance and grant components aimed at giving fillip to eco-friendly income generation activities, especially in Nabard’s Watershed project areas.
R Amalorpavanathan, Deputy Managing Director, Nabard, launching the programme at Udayanpatti village in Chellampatti Block in the district, said that in a scenario where monsoon is playing truant, farmers need to look to multiple sources of income with a basket of diversified activities. He exhorted the farmers to scale up to the next level with the help of integrated dairy-related activities envisaged under one umbrella and bestow attention on the precious water bodies without waiting for the government machinery to take up conservation works. He also referred to some of the projects already under implementation in Madurai under UPNRM such as Sustainable livelihood for Broom stick makers in Kallikudi block, improving the livelihood of Thatch makers in Sekkipatti and Eco friendly agriculture in Sirumalai Hills.
8. Tharoor removed as Congress spokesperson over Modi praise
Congress MP Shashi Tharoor was on Monday removed as AICC spokesperson over his praise for Prime Minister Narendra Modi.
Tharoor's removal was recommended by a Congress disciplinary committee, which was later accepted by party president Sonia Gandhi.
The disciplinary panel took up the issue following a complaint by the Congress' Kerala unit that his participation in the prime minister's Swachh Bharat mission upset party workers.
The report of the Kerala unit had held that Tharoor's adulatory statements about Modi had hurt Congress workers in Kerala, who had worked sincerely for his victory from Thiruvananthapuram Lok Sabha seat.
9. Cyclone Hudhud weakens in Andhra, Odisha; govts step up rescue efforts
As Cyclone Hudhud weakened moving north-westward, the governments of Andhra Pradesh and Odisha on Monday focused on bringing life back to normal in the affected districts following damage to infrastructure and shortage of essential commodities.
An alert for heavy to very heavy rainfall has been sounded in districts of Visakhapatnam, Srikakulam and Vizianagaram and in some parts of Odisha, where the cyclone claimed eight lives so far before heading to Chhattisgarh.
Over 2.48 lakh people in 320 villages of 44 mandals (blocks) have been affected by the cyclone in Andhra Pradesh.
As many as 1,35,262 persons have been evacuated and accommodated in 223 relief camps.
According to the state's revenue (disaster management) department, five persons were killed in incidents of wall and roof collapses and uprooting of trees in the region.
10. SEBI bars DLF, six top executives from markets for 3 years
Regulator SEBI has barred realty major DLF, as also six top executives including Chairman K.P. Singh, from securities markets for three years, after finding the company guilty of “active and deliberate suppression” of material information at the time of its public offer.
Those prohibited from the markets including Mr. Singh’s son Rajiv Singh (Vice Chairman) and daughter Pia Singh (Whole Time Director), SEBI said in its order.
“I find that the case of active and deliberate suppression of any material information so as to mislead and defraud the investors in the securities market in connection with the issue of shares of DLF in its IPO is clearly made out in this case,” SEBI’s Whole-Time Member Rajeev Agarwal said in his 43-page order.
“I am satisfied that the violations as found in this case are grave and have larger implications on the safety and integrity of the securities market. In my view, for the serious contraventions as found in the instant case, effective deterrent actions to safeguard the market integrity. It, therefore, becomes incumbent to deal with contraventions, digression and demeanour of the erring Noticees sternly and take appropriate actions for effective deterrence,” Mr. Agarwal said.
French economist Jean Tirole won the 2014 economics Nobel Prize for his analysis of market power and regulation, the Royal Swedish Academy of Sciences said on Monday.
"Jean Tirole is one of the most influential economists of our time," the award-giving body said. "Most of all he has clarified how to understand and regulate industries with a few powerful firms."
The economist will receive an 8 million Swedish crown ($1.1 million) prize.
The economics prize, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968. It was not part of the original group of awards set out in dynamite tycoon Nobel's 1895 will. (1 US dollar = 7.1780 Swedish crown)
2. Kotak Mahindra Bank launches Facebook-based money transfer
Private sector lender Kotak Mahindra Bank (KMB) on Monday launched a Facebook-based instant fund transfer service wherein one can send money to friends on the social media network real time, for free.
“This is a bank agnostic product, the sender and the receiver may not be our account holders. We have used the IMPS platform on the National Payments Corporation of India (NPCI) network to make this possible,” KMB’s executive vice president and head of digital initiatives, Deepak Sharma, told PTI over phone.
At present, a sender can initiate fund transfer to any person through mobile phone, courtesy the IMPS infrastructure.
The IMPS platform has 28 banks under it and account holders of any of these banks can use the newly launched service, Mr. Sharma said, adding that there will be no charges for either sending or receiving the money.
3. Asia Index launches new indices
Asia Index Pvt Ltd (AIPL), a joint venture between S&P Dow Jones Indices LLC and BSE Ltd, on Monday announced the launch of two more indices for investors in Indian market.
The S&P BSE Sensex Futures Index will help investors track the returns generated from investment in the near-month (one month) futures contract on S&P BSE Sensex traded on the BSE.
The index includes a provision for replacement of the index futures contract as it approaches maturity (also referred to as “rolling” or “the roll”).
This replacement occurs over a one-day rolling period every month, which is one business day prior to the expiration of the futures contract.
AIPL also launched the S&P BSE CPSE Index. CPSE refers to Central Public Sector Enterprises and does not include the public sector banks.
The CPSE index is designed to serve as a comprehensive benchmark to help investors track the performance of public sector companies listed on the BSE.
The index comprises CPSEs where the direct holding of the Central Government is 51 per cent or more.
“The launch of the S&P BSE Sensex Futures Index and the S&P BSE CPSE Index is a reflection of Indian investor appetite for transparent and innovative benchmarks measuring the Indian market,” said Alka Banerjee, CEO, Asia Index Pvt Ltd.
4. Tourism Ministry setting up culinary institute in Tirupati
The Union Ministry of Tourism is setting up an Indian Culinary Institute at Tirupati in Andhra Pradesh as one of the several initiatives taken to promote support system for the Indian tourism industry.
The National Council for Hotel Management and Catering recently entered into an agreement with Lausanne Hospitality Consultancy (LHC), an arm of Lausanne Hotel School.
Shripad Yesso Naik, Minister of State of Tourism and Culture, said this at a MCC Chamber of Commerce & Industry event here on Monday. He said the proposed culinary institute, to be set up as not-for-profit Central autonomous society would work for “preservation of heritage Indian Cuisine”.
The institute would research, document, achieve and impart knowledge as also train on the subjects related to traditional dishes of various parts of India. “It will serve as a resource centre in its subject domain, conforming to international benchmarks," the Minister said.
5. Harika best woman in Poker Masters Chess
Grandmaster and former world junior champion D Harika
was adjudged the best woman player after she settled for a draw with Alon Mindlin of Israel in the ninth and final round of Poker Masters Isle of Man Chess tournament that concluded in Isle of Man, United Kingdom.Harika knew that a draw would be enough for the first place and did not exert much in the last game of the tournament. The Indian finished with 5.5 points -- enough to clinch the top prize in the women’s category (2000 pounds).
Grandmaster Nigel Short of England won the tournament with an impressive victory over overnight joint leader and compatriot David Howell in the final round.
6. Pietersen salutes ‘genuine guru’ Dravid in autobiography
Maverick England batsman Kevin Pietersen struggled to get along with coaches of his own team most of his playing career and his quest for a “genuine guru” ended in faraway India where, he says, former captain Rahul Dravid made a lasting impact on his technique.
In his autobiography ‘KP’ released here this week, Pietersen refers repeatedly to an e-mail the Indian batting legend wrote to him about playing spinners which made a massive difference to him.
“Rahul was a great and heroic Indian batsman in his day. He is also a genius at dealing with spin bowlers. Our conversations and emails were a private masterclass from a genuine guru,” Pietersen writes in the book.
7. Nabard launches dairy development project in Madurai
he National Bank for Agriculture and Rural Development (Nabard) launched the ‘Integrated Dairy Development Project in Sindhupatti Watershed under its Umbrella Programme on Natural resources Management (UPNRM) in Madurai District, recently.
UPNRM is a special window operated by Nabard with micro finance and grant components aimed at giving fillip to eco-friendly income generation activities, especially in Nabard’s Watershed project areas.
R Amalorpavanathan, Deputy Managing Director, Nabard, launching the programme at Udayanpatti village in Chellampatti Block in the district, said that in a scenario where monsoon is playing truant, farmers need to look to multiple sources of income with a basket of diversified activities. He exhorted the farmers to scale up to the next level with the help of integrated dairy-related activities envisaged under one umbrella and bestow attention on the precious water bodies without waiting for the government machinery to take up conservation works. He also referred to some of the projects already under implementation in Madurai under UPNRM such as Sustainable livelihood for Broom stick makers in Kallikudi block, improving the livelihood of Thatch makers in Sekkipatti and Eco friendly agriculture in Sirumalai Hills.
8. Tharoor removed as Congress spokesperson over Modi praise
Congress MP Shashi Tharoor was on Monday removed as AICC spokesperson over his praise for Prime Minister Narendra Modi.
Tharoor's removal was recommended by a Congress disciplinary committee, which was later accepted by party president Sonia Gandhi.
The disciplinary panel took up the issue following a complaint by the Congress' Kerala unit that his participation in the prime minister's Swachh Bharat mission upset party workers.
The report of the Kerala unit had held that Tharoor's adulatory statements about Modi had hurt Congress workers in Kerala, who had worked sincerely for his victory from Thiruvananthapuram Lok Sabha seat.
9. Cyclone Hudhud weakens in Andhra, Odisha; govts step up rescue efforts
As Cyclone Hudhud weakened moving north-westward, the governments of Andhra Pradesh and Odisha on Monday focused on bringing life back to normal in the affected districts following damage to infrastructure and shortage of essential commodities.
An alert for heavy to very heavy rainfall has been sounded in districts of Visakhapatnam, Srikakulam and Vizianagaram and in some parts of Odisha, where the cyclone claimed eight lives so far before heading to Chhattisgarh.
Over 2.48 lakh people in 320 villages of 44 mandals (blocks) have been affected by the cyclone in Andhra Pradesh.
As many as 1,35,262 persons have been evacuated and accommodated in 223 relief camps.
According to the state's revenue (disaster management) department, five persons were killed in incidents of wall and roof collapses and uprooting of trees in the region.
10. SEBI bars DLF, six top executives from markets for 3 years
Regulator SEBI has barred realty major DLF, as also six top executives including Chairman K.P. Singh, from securities markets for three years, after finding the company guilty of “active and deliberate suppression” of material information at the time of its public offer.
Those prohibited from the markets including Mr. Singh’s son Rajiv Singh (Vice Chairman) and daughter Pia Singh (Whole Time Director), SEBI said in its order.
“I find that the case of active and deliberate suppression of any material information so as to mislead and defraud the investors in the securities market in connection with the issue of shares of DLF in its IPO is clearly made out in this case,” SEBI’s Whole-Time Member Rajeev Agarwal said in his 43-page order.
“I am satisfied that the violations as found in this case are grave and have larger implications on the safety and integrity of the securities market. In my view, for the serious contraventions as found in the instant case, effective deterrent actions to safeguard the market integrity. It, therefore, becomes incumbent to deal with contraventions, digression and demeanour of the erring Noticees sternly and take appropriate actions for effective deterrence,” Mr. Agarwal said.
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