1. PM Narendra Modi launches Swachh Bharat Mission
Wielding the broom, Prime Minister Narendra Modi today
launched the country’s biggest-ever cleanliness drive that is expected to cost over Rs. 62,000 crore, asserting that the “Swachh Bharat” mission is “beyond politics” and inspired by patriotism.
Debunking criticism that his Government has been taking credit for every achievement, the Prime Minister acknolwedged the efforts of all previous governments to make India clean.
“I am not talking politics...this is beyond politics.
"This is inspired by patriotism not politcs. We do not have to do with an eye on politics...I say that with a clean heart...
"If we paint this again with a brush of politics, we will again do a disservice to mother India.
“All the governments in this country have made one or the other effort to do this work. Several political, social and cultural organizations have made efforts in this direction. I greet all those, who have worked,” Modi said in his 25-minute address at Rajpath, where he formally kicked off the five-year-long campaign that will cover 4,041 statutory towns.
Administering a pledge to people to make India clean, he said that this task is not the responsibility only of safai karamcharis or the government but of all the 125 crore Indians.
He said that today’s campaign should not be seen as a mere photo opportunity.
In an event marked by fervour and symbolism, the Prime Minister earlier wielded a broom and swept pavement in Valmiki Basti, a colony of sanitation workers here.
The Prime Minister said that he is aware that the criticism of this programme will begin in just a few days but said he is prepared for this exuding confidence that the countrymen will not let him down.
The urban component of the Mission is proposed to be implemented over 5 years starting from October 2, 2014 in all 4,041 statutory towns. The total expected cost of the programme is Rs. 62,009 crore, out of which the proposed central assistance will be of Rs. 14,623 crore.
The Cabinet had last month decided to merge the ‘Nirmal Bharat Abhiyan’, a campaign for rural sanitation with Swachh Bharat Mission.
2. India Inc joins Clean India campaign
India Inc and public sector undertakings (PSUs) Thursday joined the Clean India campaign by pledging support and financial aid under corporate social responsibility (CSR) initiatives.
Industry body Confederation of Indian Industry (CII) launched 'Mission -Sanitation of Schools (SoS)' drive under which it will work with companies to construct toilets across the country.
"We have set up a mechanism to create awareness and encourage industry participation through our network of 64 offices in India, spread across 26 states and two union territories," said Sumit Mazumder, president designate, CII, and chairman, TIL Ltd.
"CII will mobilise construction of 10,000 toilets in the first phase, which is, by the end of fiscal year 2015-16. Based on the feedback and assessments on ground, in the next six months CII will announce targets for the second phase," it said.
Currently, it is estimated that per unit cost of construction of a toilet block for girls and separate block for boys will range from Rs.2 to Rs.5 lakh, depending on availability of water and other facilities
3. Obama, Modi summit reflects depth of strong Indo-US ties: WH
US President Barack Obama was "very pleased" to meet India's new Prime Minister Narendra Modi and values the opportunity to discuss a broad array of topics reflecting the depth of the strong ties between the world's two largest democracies, the White House has said.
"The President was very pleased with the opportunity that he had to visit with Prime Minister Modi. It reflects that depth of the strong relationship between the United States and India that the two leaders were able to come together and discuss a broad array of topics," White House Press Secretary, Josh Earnest, told reporters at a news conference.
4. Interpol opens Singapore centre to fight cyber crime
Interpol, the world's largest police organisation, is opening a centre in Singapore focused on fighting cyber crime, which many countries, it says, are poorly equipped to contain.
Cyber crime is increasingly conducted by a highly specialised chain of software break-in experts, underground market-makers and fraudsters who convert stolen passwords and identities into financial gains. Criminals can keep data for months or even years before using it to defraud victims.
China and the United States regularly trade accusations over cyber espionage.
5. Silver smile for Tintu; Annu Rani spears a bronze
For the last couple of years, there has been talk that Tintu Luka does not have it in her to win big medals. She seemed to be very consistent in messing up races, either by getting trapped in a box or by the lack of a strong kick at the finish.
Despite being very talented and with potential to clock impressive timings, Tintu did not have the medals to match that. It was bronze or nothing at all.
But on Wednesday, Tintu finally had a silver medal at the Asian Games and she was stunningly close to her personal best at the Asiad Main Stadium here. There was a bronze too, from Uttar Pradesh’s Annu Rani who became the first Indian woman to get a javelin medal at these Continental Games.
6. 'India would not join anti-China coalition led by U.S.'
Taking stock of the “big picture,” following Prime Minister Narendra Modi’s high-profile visit to the United States, China has arrived at the conclusion that India would not join Japan, Australia and the Philippines in an anti-Beijing coalition led by Washington.
An article that appeared in the People’s Daily, the official newspaper of the Chinese government, cited three reasons to conclude why New Delhi would not partner a U.S-led “rebalancing” strategy in the Asia-Pacific that targets China.
Also called the Washington’s “Pivot to Asia”— a coinage first detailed by former U.S. Secretary of State, Hillary Clinton - the mantra anchors a decision to expand Washington’s military profile in the Asia-Pacific, including swathes of the Indian Ocean, by beefing up military capabilities of countries on the periphery of China, including Japan, Australia and the Philippines.
7. Asian Games hockey: Indian women sign off with bronze
With an impressive display that underscored the importance of teamwork, India wrested the bronze medal, won last in 2006 at Doha, in the women’s competition here today.
The 2-1 result over Japan eminently merits a podium finish, the goal that the team had set for itself.
8. Nation pays homage to Mahatma Gandhi on 145th birth anniversary
The nation today remembered Mahatma Gandhi on his 145th birth anniversary with Prime Minister Narendra Modi and other leaders paying floral tributes at his memorial here.
Vice President Hamid Ansari, former Prime Minister Manmohan Singh, Congress President Sonia Gandhi, Lok Sabha Speaker Sumitra Mahajan, Union Urban Development Minister M Venkaiah Naidu and Minister of State for External Affairs V K Singh were among those who also paid homage to the Father of the Nation.
Naidu was the first to arrive at Rajghat, Mahatma Gandhi’s ‘samadhi’, followed by Congress president Sonia Gandhi who was accompanied by former Delhi Chief Minister Sheila Dikshit.
9. Gabbard to support International Yoga Day
The first Hindu-American Congresswoman Tulsi Gabbard has promised Prime Minister Narendra Modi to lead an effort towards a Congressional resolution in support of International Yoga Day.
Gabbard, in a statement, said she made a commitment to Modi to take the lead in Congress to pass a resolution in support of the prime minister’s appeal to the UN to designate an International Yoga Day.
10. ICICI Bank asked to pay over Rs 1L for negligence in services
Bank Ltd has been asked by an apex consumer commission to pay a compensation of over Rs. one lakh to a Punjab-based family for charging interest on home loan at much higher rates, saying it was "negligent in rendering services".
National Consumer Disputes Redressal Commission (NCDRC), presided by Justice V K Jain, asked the bank to pay Rs. 1.05 lakh to Dutta family, residents of Mohali, who had availed the loan from the bank in 2005.
"Since admittedly, the bank charged interest higher...it was clearly negligent in rendering services to complainants and, therefore, the order passed by the state commission does not call for any interference," the bench said.
Dattas had availed the home loan of Rs. 13, 35,100 from the bank in 2005 and further an additional loan of Rs. three lakh.
In their complaint, they had said that instead of charging interest at the agreed rate, the bank had charged the same at much higher rate.
Aggrieved by this, they filed a complaint before district consumer forum, alleging deficiency in the service provided to them by the bank.
The bank, however, had contended before the forum that the loan was sanctioned on the floating rate of interest, which could be enhanced as per the guidelines issued by the Reserve Bank of India and in accordance with the agreement between the parties.
The forum, however, had directed bank to charge interest from the complainant at the previous rate. Being aggrieved by the forum's order, the bank filed an appeal before the Chandigarh State Consumer Commission.
The state commission though permitted the bank to vary the rate but held that it had enhanced it on wrong parameters and asked the bank to pay Rs. one lakh to the complainant, along with cost of litigation amounting to Rs. 5,000.
Thereafter, the bank approached NCDRC against the state commission's order.
11. Infosys launches new solution for banks
The country's second largest software services firm Infosys today launched a new solution to help banks simplify transaction reconciliation processes.
Infosys Transaction Reconciliation solution (ITRS) is a unified solution that helps banks automate and centralise their reconciliation across multiple channels, reduces costs by offering simple, easy-to-use tool for bank employees to perform reconciliation tasks and functions, it said in a statement.
With automation and optimisation, the solution helps reduce the need for manual interaction and increases performance through auto-matching and straight through processing, it added.
With global spend on reconciliation expected to reach USD 1.27 billion by 2017, banks are increasingly looking for automated solutions. A unified reconciliation solution such as ITRS helps banks efficiently while meeting the regulatory needs, it said. The solution is capable of processing up to 50 million transactions per hour and reduces 15 to 50 per cent of time taken to on-board reconciliation tasks.
"A well-planned reconciliation helps banks reduce risks emanating from disparate systems and processes or manual interventions," Infosys Executive Vice President and Head of Financial Services Mohit Joshi said.
12. FDI in telecom jumps manifold to $ 2.33 billion in April-July
After registering a huge decline in the recent past, foreign direct investment in the telecom sectorgrew manifold to USD 2.33 billion in the first four months of 2014-15.During the entire 2013-14 fiscal, the sector hadreceived a total FDI of USD 1.3 billion.
FDI in the telecom sector, which includes radio paging, cellular mobile, basic telephone services, attracted only USD 12 million during April-July period of the last fiscal, as per the Department ofIndustrial Policy and Promotion.According to an industry expert, payment of spectrum auction and investments in network rollout are some of the factors that have helped attract more FDI in the sector.
Wielding the broom, Prime Minister Narendra Modi today
launched the country’s biggest-ever cleanliness drive that is expected to cost over Rs. 62,000 crore, asserting that the “Swachh Bharat” mission is “beyond politics” and inspired by patriotism.Debunking criticism that his Government has been taking credit for every achievement, the Prime Minister acknolwedged the efforts of all previous governments to make India clean.
“I am not talking politics...this is beyond politics.
"This is inspired by patriotism not politcs. We do not have to do with an eye on politics...I say that with a clean heart...
"If we paint this again with a brush of politics, we will again do a disservice to mother India.
“All the governments in this country have made one or the other effort to do this work. Several political, social and cultural organizations have made efforts in this direction. I greet all those, who have worked,” Modi said in his 25-minute address at Rajpath, where he formally kicked off the five-year-long campaign that will cover 4,041 statutory towns.
Administering a pledge to people to make India clean, he said that this task is not the responsibility only of safai karamcharis or the government but of all the 125 crore Indians.
He said that today’s campaign should not be seen as a mere photo opportunity.
In an event marked by fervour and symbolism, the Prime Minister earlier wielded a broom and swept pavement in Valmiki Basti, a colony of sanitation workers here.
The Prime Minister said that he is aware that the criticism of this programme will begin in just a few days but said he is prepared for this exuding confidence that the countrymen will not let him down.
The urban component of the Mission is proposed to be implemented over 5 years starting from October 2, 2014 in all 4,041 statutory towns. The total expected cost of the programme is Rs. 62,009 crore, out of which the proposed central assistance will be of Rs. 14,623 crore.
The Cabinet had last month decided to merge the ‘Nirmal Bharat Abhiyan’, a campaign for rural sanitation with Swachh Bharat Mission.
2. India Inc joins Clean India campaign
India Inc and public sector undertakings (PSUs) Thursday joined the Clean India campaign by pledging support and financial aid under corporate social responsibility (CSR) initiatives.
Industry body Confederation of Indian Industry (CII) launched 'Mission -Sanitation of Schools (SoS)' drive under which it will work with companies to construct toilets across the country.
"We have set up a mechanism to create awareness and encourage industry participation through our network of 64 offices in India, spread across 26 states and two union territories," said Sumit Mazumder, president designate, CII, and chairman, TIL Ltd.
"CII will mobilise construction of 10,000 toilets in the first phase, which is, by the end of fiscal year 2015-16. Based on the feedback and assessments on ground, in the next six months CII will announce targets for the second phase," it said.
Currently, it is estimated that per unit cost of construction of a toilet block for girls and separate block for boys will range from Rs.2 to Rs.5 lakh, depending on availability of water and other facilities
3. Obama, Modi summit reflects depth of strong Indo-US ties: WH
US President Barack Obama was "very pleased" to meet India's new Prime Minister Narendra Modi and values the opportunity to discuss a broad array of topics reflecting the depth of the strong ties between the world's two largest democracies, the White House has said.
"The President was very pleased with the opportunity that he had to visit with Prime Minister Modi. It reflects that depth of the strong relationship between the United States and India that the two leaders were able to come together and discuss a broad array of topics," White House Press Secretary, Josh Earnest, told reporters at a news conference.
4. Interpol opens Singapore centre to fight cyber crime
Interpol, the world's largest police organisation, is opening a centre in Singapore focused on fighting cyber crime, which many countries, it says, are poorly equipped to contain.
Cyber crime is increasingly conducted by a highly specialised chain of software break-in experts, underground market-makers and fraudsters who convert stolen passwords and identities into financial gains. Criminals can keep data for months or even years before using it to defraud victims.
China and the United States regularly trade accusations over cyber espionage.
5. Silver smile for Tintu; Annu Rani spears a bronze
For the last couple of years, there has been talk that Tintu Luka does not have it in her to win big medals. She seemed to be very consistent in messing up races, either by getting trapped in a box or by the lack of a strong kick at the finish.
Despite being very talented and with potential to clock impressive timings, Tintu did not have the medals to match that. It was bronze or nothing at all.
But on Wednesday, Tintu finally had a silver medal at the Asian Games and she was stunningly close to her personal best at the Asiad Main Stadium here. There was a bronze too, from Uttar Pradesh’s Annu Rani who became the first Indian woman to get a javelin medal at these Continental Games.
6. 'India would not join anti-China coalition led by U.S.'
Taking stock of the “big picture,” following Prime Minister Narendra Modi’s high-profile visit to the United States, China has arrived at the conclusion that India would not join Japan, Australia and the Philippines in an anti-Beijing coalition led by Washington.
An article that appeared in the People’s Daily, the official newspaper of the Chinese government, cited three reasons to conclude why New Delhi would not partner a U.S-led “rebalancing” strategy in the Asia-Pacific that targets China.
Also called the Washington’s “Pivot to Asia”— a coinage first detailed by former U.S. Secretary of State, Hillary Clinton - the mantra anchors a decision to expand Washington’s military profile in the Asia-Pacific, including swathes of the Indian Ocean, by beefing up military capabilities of countries on the periphery of China, including Japan, Australia and the Philippines.
7. Asian Games hockey: Indian women sign off with bronze
With an impressive display that underscored the importance of teamwork, India wrested the bronze medal, won last in 2006 at Doha, in the women’s competition here today.
The 2-1 result over Japan eminently merits a podium finish, the goal that the team had set for itself.
8. Nation pays homage to Mahatma Gandhi on 145th birth anniversary
The nation today remembered Mahatma Gandhi on his 145th birth anniversary with Prime Minister Narendra Modi and other leaders paying floral tributes at his memorial here.
Vice President Hamid Ansari, former Prime Minister Manmohan Singh, Congress President Sonia Gandhi, Lok Sabha Speaker Sumitra Mahajan, Union Urban Development Minister M Venkaiah Naidu and Minister of State for External Affairs V K Singh were among those who also paid homage to the Father of the Nation.
Naidu was the first to arrive at Rajghat, Mahatma Gandhi’s ‘samadhi’, followed by Congress president Sonia Gandhi who was accompanied by former Delhi Chief Minister Sheila Dikshit.
9. Gabbard to support International Yoga Day
The first Hindu-American Congresswoman Tulsi Gabbard has promised Prime Minister Narendra Modi to lead an effort towards a Congressional resolution in support of International Yoga Day.
Gabbard, in a statement, said she made a commitment to Modi to take the lead in Congress to pass a resolution in support of the prime minister’s appeal to the UN to designate an International Yoga Day.
10. ICICI Bank asked to pay over Rs 1L for negligence in services
Bank Ltd has been asked by an apex consumer commission to pay a compensation of over Rs. one lakh to a Punjab-based family for charging interest on home loan at much higher rates, saying it was "negligent in rendering services".
National Consumer Disputes Redressal Commission (NCDRC), presided by Justice V K Jain, asked the bank to pay Rs. 1.05 lakh to Dutta family, residents of Mohali, who had availed the loan from the bank in 2005.
"Since admittedly, the bank charged interest higher...it was clearly negligent in rendering services to complainants and, therefore, the order passed by the state commission does not call for any interference," the bench said.
Dattas had availed the home loan of Rs. 13, 35,100 from the bank in 2005 and further an additional loan of Rs. three lakh.
In their complaint, they had said that instead of charging interest at the agreed rate, the bank had charged the same at much higher rate.
Aggrieved by this, they filed a complaint before district consumer forum, alleging deficiency in the service provided to them by the bank.
The bank, however, had contended before the forum that the loan was sanctioned on the floating rate of interest, which could be enhanced as per the guidelines issued by the Reserve Bank of India and in accordance with the agreement between the parties.
The forum, however, had directed bank to charge interest from the complainant at the previous rate. Being aggrieved by the forum's order, the bank filed an appeal before the Chandigarh State Consumer Commission.
The state commission though permitted the bank to vary the rate but held that it had enhanced it on wrong parameters and asked the bank to pay Rs. one lakh to the complainant, along with cost of litigation amounting to Rs. 5,000.
Thereafter, the bank approached NCDRC against the state commission's order.
11. Infosys launches new solution for banks
The country's second largest software services firm Infosys today launched a new solution to help banks simplify transaction reconciliation processes.
Infosys Transaction Reconciliation solution (ITRS) is a unified solution that helps banks automate and centralise their reconciliation across multiple channels, reduces costs by offering simple, easy-to-use tool for bank employees to perform reconciliation tasks and functions, it said in a statement.
With automation and optimisation, the solution helps reduce the need for manual interaction and increases performance through auto-matching and straight through processing, it added.
With global spend on reconciliation expected to reach USD 1.27 billion by 2017, banks are increasingly looking for automated solutions. A unified reconciliation solution such as ITRS helps banks efficiently while meeting the regulatory needs, it said. The solution is capable of processing up to 50 million transactions per hour and reduces 15 to 50 per cent of time taken to on-board reconciliation tasks.
"A well-planned reconciliation helps banks reduce risks emanating from disparate systems and processes or manual interventions," Infosys Executive Vice President and Head of Financial Services Mohit Joshi said.
12. FDI in telecom jumps manifold to $ 2.33 billion in April-July
After registering a huge decline in the recent past, foreign direct investment in the telecom sectorgrew manifold to USD 2.33 billion in the first four months of 2014-15.During the entire 2013-14 fiscal, the sector hadreceived a total FDI of USD 1.3 billion.
FDI in the telecom sector, which includes radio paging, cellular mobile, basic telephone services, attracted only USD 12 million during April-July period of the last fiscal, as per the Department ofIndustrial Policy and Promotion.According to an industry expert, payment of spectrum auction and investments in network rollout are some of the factors that have helped attract more FDI in the sector.
1. PM Narendra Modi launches Swachh Bharat Mission
Wielding the broom, Prime Minister Narendra Modi today
launched the country’s biggest-ever cleanliness drive that is expected to cost over Rs. 62,000 crore, asserting that the “Swachh Bharat” mission is “beyond politics” and inspired by patriotism.
Debunking criticism that his Government has been taking credit for every achievement, the Prime Minister acknolwedged the efforts of all previous governments to make India clean.
“I am not talking politics...this is beyond politics.
"This is inspired by patriotism not politcs. We do not have to do with an eye on politics...I say that with a clean heart...
"If we paint this again with a brush of politics, we will again do a disservice to mother India.
“All the governments in this country have made one or the other effort to do this work. Several political, social and cultural organizations have made efforts in this direction. I greet all those, who have worked,” Modi said in his 25-minute address at Rajpath, where he formally kicked off the five-year-long campaign that will cover 4,041 statutory towns.
Administering a pledge to people to make India clean, he said that this task is not the responsibility only of safai karamcharis or the government but of all the 125 crore Indians.
He said that today’s campaign should not be seen as a mere photo opportunity.
In an event marked by fervour and symbolism, the Prime Minister earlier wielded a broom and swept pavement in Valmiki Basti, a colony of sanitation workers here.
The Prime Minister said that he is aware that the criticism of this programme will begin in just a few days but said he is prepared for this exuding confidence that the countrymen will not let him down.
The urban component of the Mission is proposed to be implemented over 5 years starting from October 2, 2014 in all 4,041 statutory towns. The total expected cost of the programme is Rs. 62,009 crore, out of which the proposed central assistance will be of Rs. 14,623 crore.
The Cabinet had last month decided to merge the ‘Nirmal Bharat Abhiyan’, a campaign for rural sanitation with Swachh Bharat Mission.
2. India Inc joins Clean India campaign
India Inc and public sector undertakings (PSUs) Thursday joined the Clean India campaign by pledging support and financial aid under corporate social responsibility (CSR) initiatives.
Industry body Confederation of Indian Industry (CII) launched 'Mission -Sanitation of Schools (SoS)' drive under which it will work with companies to construct toilets across the country.
"We have set up a mechanism to create awareness and encourage industry participation through our network of 64 offices in India, spread across 26 states and two union territories," said Sumit Mazumder, president designate, CII, and chairman, TIL Ltd.
"CII will mobilise construction of 10,000 toilets in the first phase, which is, by the end of fiscal year 2015-16. Based on the feedback and assessments on ground, in the next six months CII will announce targets for the second phase," it said.
Currently, it is estimated that per unit cost of construction of a toilet block for girls and separate block for boys will range from Rs.2 to Rs.5 lakh, depending on availability of water and other facilities
3. Obama, Modi summit reflects depth of strong Indo-US ties: WH
US President Barack Obama was "very pleased" to meet India's new Prime Minister Narendra Modi and values the opportunity to discuss a broad array of topics reflecting the depth of the strong ties between the world's two largest democracies, the White House has said.
"The President was very pleased with the opportunity that he had to visit with Prime Minister Modi. It reflects that depth of the strong relationship between the United States and India that the two leaders were able to come together and discuss a broad array of topics," White House Press Secretary, Josh Earnest, told reporters at a news conference.
4. Interpol opens Singapore centre to fight cyber crime
Interpol, the world's largest police organisation, is opening a centre in Singapore focused on fighting cyber crime, which many countries, it says, are poorly equipped to contain.
Cyber crime is increasingly conducted by a highly specialised chain of software break-in experts, underground market-makers and fraudsters who convert stolen passwords and identities into financial gains. Criminals can keep data for months or even years before using it to defraud victims.
China and the United States regularly trade accusations over cyber espionage.
5. Silver smile for Tintu; Annu Rani spears a bronze
For the last couple of years, there has been talk that Tintu Luka does not have it in her to win big medals. She seemed to be very consistent in messing up races, either by getting trapped in a box or by the lack of a strong kick at the finish.
Despite being very talented and with potential to clock impressive timings, Tintu did not have the medals to match that. It was bronze or nothing at all.
But on Wednesday, Tintu finally had a silver medal at the Asian Games and she was stunningly close to her personal best at the Asiad Main Stadium here. There was a bronze too, from Uttar Pradesh’s Annu Rani who became the first Indian woman to get a javelin medal at these Continental Games.
6. 'India would not join anti-China coalition led by U.S.'
Taking stock of the “big picture,” following Prime Minister Narendra Modi’s high-profile visit to the United States, China has arrived at the conclusion that India would not join Japan, Australia and the Philippines in an anti-Beijing coalition led by Washington.
An article that appeared in the People’s Daily, the official newspaper of the Chinese government, cited three reasons to conclude why New Delhi would not partner a U.S-led “rebalancing” strategy in the Asia-Pacific that targets China.
Also called the Washington’s “Pivot to Asia”— a coinage first detailed by former U.S. Secretary of State, Hillary Clinton - the mantra anchors a decision to expand Washington’s military profile in the Asia-Pacific, including swathes of the Indian Ocean, by beefing up military capabilities of countries on the periphery of China, including Japan, Australia and the Philippines.
7. Asian Games hockey: Indian women sign off with bronze
With an impressive display that underscored the importance of teamwork, India wrested the bronze medal, won last in 2006 at Doha, in the women’s competition here today.
The 2-1 result over Japan eminently merits a podium finish, the goal that the team had set for itself.
8. Nation pays homage to Mahatma Gandhi on 145th birth anniversary
The nation today remembered Mahatma Gandhi on his 145th birth anniversary with Prime Minister Narendra Modi and other leaders paying floral tributes at his memorial here.
Vice President Hamid Ansari, former Prime Minister Manmohan Singh, Congress President Sonia Gandhi, Lok Sabha Speaker Sumitra Mahajan, Union Urban Development Minister M Venkaiah Naidu and Minister of State for External Affairs V K Singh were among those who also paid homage to the Father of the Nation.
Naidu was the first to arrive at Rajghat, Mahatma Gandhi’s ‘samadhi’, followed by Congress president Sonia Gandhi who was accompanied by former Delhi Chief Minister Sheila Dikshit.
9. Gabbard to support International Yoga Day
The first Hindu-American Congresswoman Tulsi Gabbard has promised Prime Minister Narendra Modi to lead an effort towards a Congressional resolution in support of International Yoga Day.
Gabbard, in a statement, said she made a commitment to Modi to take the lead in Congress to pass a resolution in support of the prime minister’s appeal to the UN to designate an International Yoga Day.
10. ICICI Bank asked to pay over Rs 1L for negligence in services
Bank Ltd has been asked by an apex consumer commission to pay a compensation of over Rs. one lakh to a Punjab-based family for charging interest on home loan at much higher rates, saying it was "negligent in rendering services".
National Consumer Disputes Redressal Commission (NCDRC), presided by Justice V K Jain, asked the bank to pay Rs. 1.05 lakh to Dutta family, residents of Mohali, who had availed the loan from the bank in 2005.
"Since admittedly, the bank charged interest higher...it was clearly negligent in rendering services to complainants and, therefore, the order passed by the state commission does not call for any interference," the bench said.
Dattas had availed the home loan of Rs. 13, 35,100 from the bank in 2005 and further an additional loan of Rs. three lakh.
In their complaint, they had said that instead of charging interest at the agreed rate, the bank had charged the same at much higher rate.
Aggrieved by this, they filed a complaint before district consumer forum, alleging deficiency in the service provided to them by the bank.
The bank, however, had contended before the forum that the loan was sanctioned on the floating rate of interest, which could be enhanced as per the guidelines issued by the Reserve Bank of India and in accordance with the agreement between the parties.
The forum, however, had directed bank to charge interest from the complainant at the previous rate. Being aggrieved by the forum's order, the bank filed an appeal before the Chandigarh State Consumer Commission.
The state commission though permitted the bank to vary the rate but held that it had enhanced it on wrong parameters and asked the bank to pay Rs. one lakh to the complainant, along with cost of litigation amounting to Rs. 5,000.
Thereafter, the bank approached NCDRC against the state commission's order.
11. Infosys launches new solution for banks
The country's second largest software services firm Infosys today launched a new solution to help banks simplify transaction reconciliation processes.
Infosys Transaction Reconciliation solution (ITRS) is a unified solution that helps banks automate and centralise their reconciliation across multiple channels, reduces costs by offering simple, easy-to-use tool for bank employees to perform reconciliation tasks and functions, it said in a statement.
With automation and optimisation, the solution helps reduce the need for manual interaction and increases performance through auto-matching and straight through processing, it added.
With global spend on reconciliation expected to reach USD 1.27 billion by 2017, banks are increasingly looking for automated solutions. A unified reconciliation solution such as ITRS helps banks efficiently while meeting the regulatory needs, it said. The solution is capable of processing up to 50 million transactions per hour and reduces 15 to 50 per cent of time taken to on-board reconciliation tasks.
"A well-planned reconciliation helps banks reduce risks emanating from disparate systems and processes or manual interventions," Infosys Executive Vice President and Head of Financial Services Mohit Joshi said.
12. FDI in telecom jumps manifold to $ 2.33 billion in April-July
After registering a huge decline in the recent past, foreign direct investment in the telecom sectorgrew manifold to USD 2.33 billion in the first four months of 2014-15.During the entire 2013-14 fiscal, the sector hadreceived a total FDI of USD 1.3 billion.
FDI in the telecom sector, which includes radio paging, cellular mobile, basic telephone services, attracted only USD 12 million during April-July period of the last fiscal, as per the Department ofIndustrial Policy and Promotion.According to an industry expert, payment of spectrum auction and investments in network rollout are some of the factors that have helped attract more FDI in the sector.
Wielding the broom, Prime Minister Narendra Modi today
launched the country’s biggest-ever cleanliness drive that is expected to cost over Rs. 62,000 crore, asserting that the “Swachh Bharat” mission is “beyond politics” and inspired by patriotism.Debunking criticism that his Government has been taking credit for every achievement, the Prime Minister acknolwedged the efforts of all previous governments to make India clean.
“I am not talking politics...this is beyond politics.
"This is inspired by patriotism not politcs. We do not have to do with an eye on politics...I say that with a clean heart...
"If we paint this again with a brush of politics, we will again do a disservice to mother India.
“All the governments in this country have made one or the other effort to do this work. Several political, social and cultural organizations have made efforts in this direction. I greet all those, who have worked,” Modi said in his 25-minute address at Rajpath, where he formally kicked off the five-year-long campaign that will cover 4,041 statutory towns.
Administering a pledge to people to make India clean, he said that this task is not the responsibility only of safai karamcharis or the government but of all the 125 crore Indians.
He said that today’s campaign should not be seen as a mere photo opportunity.
In an event marked by fervour and symbolism, the Prime Minister earlier wielded a broom and swept pavement in Valmiki Basti, a colony of sanitation workers here.
The Prime Minister said that he is aware that the criticism of this programme will begin in just a few days but said he is prepared for this exuding confidence that the countrymen will not let him down.
The urban component of the Mission is proposed to be implemented over 5 years starting from October 2, 2014 in all 4,041 statutory towns. The total expected cost of the programme is Rs. 62,009 crore, out of which the proposed central assistance will be of Rs. 14,623 crore.
The Cabinet had last month decided to merge the ‘Nirmal Bharat Abhiyan’, a campaign for rural sanitation with Swachh Bharat Mission.
2. India Inc joins Clean India campaign
India Inc and public sector undertakings (PSUs) Thursday joined the Clean India campaign by pledging support and financial aid under corporate social responsibility (CSR) initiatives.
Industry body Confederation of Indian Industry (CII) launched 'Mission -Sanitation of Schools (SoS)' drive under which it will work with companies to construct toilets across the country.
"We have set up a mechanism to create awareness and encourage industry participation through our network of 64 offices in India, spread across 26 states and two union territories," said Sumit Mazumder, president designate, CII, and chairman, TIL Ltd.
"CII will mobilise construction of 10,000 toilets in the first phase, which is, by the end of fiscal year 2015-16. Based on the feedback and assessments on ground, in the next six months CII will announce targets for the second phase," it said.
Currently, it is estimated that per unit cost of construction of a toilet block for girls and separate block for boys will range from Rs.2 to Rs.5 lakh, depending on availability of water and other facilities
3. Obama, Modi summit reflects depth of strong Indo-US ties: WH
US President Barack Obama was "very pleased" to meet India's new Prime Minister Narendra Modi and values the opportunity to discuss a broad array of topics reflecting the depth of the strong ties between the world's two largest democracies, the White House has said.
"The President was very pleased with the opportunity that he had to visit with Prime Minister Modi. It reflects that depth of the strong relationship between the United States and India that the two leaders were able to come together and discuss a broad array of topics," White House Press Secretary, Josh Earnest, told reporters at a news conference.
4. Interpol opens Singapore centre to fight cyber crime
Interpol, the world's largest police organisation, is opening a centre in Singapore focused on fighting cyber crime, which many countries, it says, are poorly equipped to contain.
Cyber crime is increasingly conducted by a highly specialised chain of software break-in experts, underground market-makers and fraudsters who convert stolen passwords and identities into financial gains. Criminals can keep data for months or even years before using it to defraud victims.
China and the United States regularly trade accusations over cyber espionage.
5. Silver smile for Tintu; Annu Rani spears a bronze
For the last couple of years, there has been talk that Tintu Luka does not have it in her to win big medals. She seemed to be very consistent in messing up races, either by getting trapped in a box or by the lack of a strong kick at the finish.
Despite being very talented and with potential to clock impressive timings, Tintu did not have the medals to match that. It was bronze or nothing at all.
But on Wednesday, Tintu finally had a silver medal at the Asian Games and she was stunningly close to her personal best at the Asiad Main Stadium here. There was a bronze too, from Uttar Pradesh’s Annu Rani who became the first Indian woman to get a javelin medal at these Continental Games.
6. 'India would not join anti-China coalition led by U.S.'
Taking stock of the “big picture,” following Prime Minister Narendra Modi’s high-profile visit to the United States, China has arrived at the conclusion that India would not join Japan, Australia and the Philippines in an anti-Beijing coalition led by Washington.
An article that appeared in the People’s Daily, the official newspaper of the Chinese government, cited three reasons to conclude why New Delhi would not partner a U.S-led “rebalancing” strategy in the Asia-Pacific that targets China.
Also called the Washington’s “Pivot to Asia”— a coinage first detailed by former U.S. Secretary of State, Hillary Clinton - the mantra anchors a decision to expand Washington’s military profile in the Asia-Pacific, including swathes of the Indian Ocean, by beefing up military capabilities of countries on the periphery of China, including Japan, Australia and the Philippines.
7. Asian Games hockey: Indian women sign off with bronze
With an impressive display that underscored the importance of teamwork, India wrested the bronze medal, won last in 2006 at Doha, in the women’s competition here today.
The 2-1 result over Japan eminently merits a podium finish, the goal that the team had set for itself.
8. Nation pays homage to Mahatma Gandhi on 145th birth anniversary
The nation today remembered Mahatma Gandhi on his 145th birth anniversary with Prime Minister Narendra Modi and other leaders paying floral tributes at his memorial here.
Vice President Hamid Ansari, former Prime Minister Manmohan Singh, Congress President Sonia Gandhi, Lok Sabha Speaker Sumitra Mahajan, Union Urban Development Minister M Venkaiah Naidu and Minister of State for External Affairs V K Singh were among those who also paid homage to the Father of the Nation.
Naidu was the first to arrive at Rajghat, Mahatma Gandhi’s ‘samadhi’, followed by Congress president Sonia Gandhi who was accompanied by former Delhi Chief Minister Sheila Dikshit.
9. Gabbard to support International Yoga Day
The first Hindu-American Congresswoman Tulsi Gabbard has promised Prime Minister Narendra Modi to lead an effort towards a Congressional resolution in support of International Yoga Day.
Gabbard, in a statement, said she made a commitment to Modi to take the lead in Congress to pass a resolution in support of the prime minister’s appeal to the UN to designate an International Yoga Day.
10. ICICI Bank asked to pay over Rs 1L for negligence in services
Bank Ltd has been asked by an apex consumer commission to pay a compensation of over Rs. one lakh to a Punjab-based family for charging interest on home loan at much higher rates, saying it was "negligent in rendering services".
National Consumer Disputes Redressal Commission (NCDRC), presided by Justice V K Jain, asked the bank to pay Rs. 1.05 lakh to Dutta family, residents of Mohali, who had availed the loan from the bank in 2005.
"Since admittedly, the bank charged interest higher...it was clearly negligent in rendering services to complainants and, therefore, the order passed by the state commission does not call for any interference," the bench said.
Dattas had availed the home loan of Rs. 13, 35,100 from the bank in 2005 and further an additional loan of Rs. three lakh.
In their complaint, they had said that instead of charging interest at the agreed rate, the bank had charged the same at much higher rate.
Aggrieved by this, they filed a complaint before district consumer forum, alleging deficiency in the service provided to them by the bank.
The bank, however, had contended before the forum that the loan was sanctioned on the floating rate of interest, which could be enhanced as per the guidelines issued by the Reserve Bank of India and in accordance with the agreement between the parties.
The forum, however, had directed bank to charge interest from the complainant at the previous rate. Being aggrieved by the forum's order, the bank filed an appeal before the Chandigarh State Consumer Commission.
The state commission though permitted the bank to vary the rate but held that it had enhanced it on wrong parameters and asked the bank to pay Rs. one lakh to the complainant, along with cost of litigation amounting to Rs. 5,000.
Thereafter, the bank approached NCDRC against the state commission's order.
11. Infosys launches new solution for banks
The country's second largest software services firm Infosys today launched a new solution to help banks simplify transaction reconciliation processes.
Infosys Transaction Reconciliation solution (ITRS) is a unified solution that helps banks automate and centralise their reconciliation across multiple channels, reduces costs by offering simple, easy-to-use tool for bank employees to perform reconciliation tasks and functions, it said in a statement.
With automation and optimisation, the solution helps reduce the need for manual interaction and increases performance through auto-matching and straight through processing, it added.
With global spend on reconciliation expected to reach USD 1.27 billion by 2017, banks are increasingly looking for automated solutions. A unified reconciliation solution such as ITRS helps banks efficiently while meeting the regulatory needs, it said. The solution is capable of processing up to 50 million transactions per hour and reduces 15 to 50 per cent of time taken to on-board reconciliation tasks.
"A well-planned reconciliation helps banks reduce risks emanating from disparate systems and processes or manual interventions," Infosys Executive Vice President and Head of Financial Services Mohit Joshi said.
12. FDI in telecom jumps manifold to $ 2.33 billion in April-July
After registering a huge decline in the recent past, foreign direct investment in the telecom sectorgrew manifold to USD 2.33 billion in the first four months of 2014-15.During the entire 2013-14 fiscal, the sector hadreceived a total FDI of USD 1.3 billion.
FDI in the telecom sector, which includes radio paging, cellular mobile, basic telephone services, attracted only USD 12 million during April-July period of the last fiscal, as per the Department ofIndustrial Policy and Promotion.According to an industry expert, payment of spectrum auction and investments in network rollout are some of the factors that have helped attract more FDI in the sector.
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