1. Arun Shrivastava assumes charge as Syndicate Bank MD & CEOArun Shrivastava today assumed charge as Managing Director & CEO of Syndicate Bank.
He was Executive Director of Bank of India, looking after Finance, Strategy & Planning, Large Corporate & Mid Corporate Business, Corporate Debt Restructuring, Project Finance & Syndication, Credit Monitoring & Asset Recovery, Publicity & Public Relations portfolios of the bank.
Earlier, Shrivastava was overseeing the foreign subsidiaries – BoI Indonesia and Botswana and joint venture – India Zambia Bank.
He holds a Masters Degree in Science. In addition, he is also a Certified Associate of Indian Institute of Bankers and AIBM.
2. Indian-American boy Karan Menon won 2015 National Geographic Bee Championship
Karan Menon, a 14-year-old Indian-American student, won the 2015 National Geographic Bee championship. Menon answered all questions correctly related to places like Tashkent, Telangana and the Oresund Strait.
In addition to winning the title of National Geographic Bee champion, Menon received a 50000 US dollars college scholarship, lifetime membership in the National Geographic Society and an expedition for two to the Galapagos Islands aboard the Lindblad ship National Geographic Endeavour. Menon competed against 10 finalists from across the US to win the championship. Out of the 10 finalists, seven were of Indian-origin.
The first-runner up and recipient of a 25000 US dollars college scholarship was 11-year-old Shriya Yarlagadda of Michigan. The third place and a 10000 US dollars college scholarship went to Sojas Wagle of Arkansas, a 13-year-old eighth grader.
3. SBI launched contact-less card called sbiINTOUCH
State Bank of India (SBI) on 14 May 2015 launched contact-less credit and debit cards called sbiINTOUCH.
These cards are based upon the latest near-field technology (NFC). With these cards, a customer can transact by just tapping or waving it against the reader of the point-of-sale machine.These cards are more secure and hassle-free. These cards come with a fraud liability cover of 1 lakh rupees. SBI has issued 1.08 lakh new cards to its customers in the eight largest metros and the remaining customers will get the cards in the following months.
Private lenders ICICI Bank and HDFC Bank have already launched such NFC cards.
The move could boost the acceptance of SBI’s tap and pay cards. These cards are especially targeted towards fast-food outlets, coffee shops and supermarkets where customers make quick transactions.
4. RBI allowed Tap And Pay without PIN for transactions up to 2000 rupees
Reserve Bank of India (RBI) allowed Tap And Pay without PIN for transactions up to 2000 rupees. For amounts higher than that, the customer must be given the option of contact payment and would require pin authentication.
RBI decided to relax current guidelines on the needs for additional factor authentication (AFA) for small value card present transactions only using contact-less cards.
The move is expected to hasten acceptance of tap and pay electronic payments at retail outlets, in transport services and for toll payments.
Tap and pay refers to the use of near field communication technology in payment cards where instead of the traditional swiping of the card and punching in payment details, all the customer needs to do is wave a card in front of an acceptance device for the bill to be settled.
One of the preconditions set out by RBI is that the contactless card should also incorporate the latest EMV Chip technology for enabling payment beyond 2000 rupees.
Also, Banks must give customers the option to choose to pay using the regular swipe method without using NFC irrespective of the amount involved.
In most countries where payment technology has advanced NFC cards are used for payment of metro or bus fares or in electronic toll collection.
5. Union Government approved Gujarat State Climate Change Action Plan 2015-2020
The Union Ministry of Environment and Forests (MoEF) approved the Gujarat State Climate Change Action Plan 2015-2020. The plan was submitted in August 2014.
In the action plan, the state government proposed to invest more than 21000 crore rupees to create environment-friendly water resource management, public health projects, forest and environment improvement projects and agriculture improvement projects by 2020.
The plan also suggests radical changes in the functioning of government in nine sectors including agriculture, water resource management, healthcare, forest and biodiversity, renewable energy, coastal infrastructure, urban development, vulnerable community and green jobs.
The plan was prepared by The Energy and Resources Institute (TERI).
6. 24 Agreements Signed Between India and China During PM Modi's Visit
India and China have signed 24 agreements worth over 10 billion dollars in Beijing this morning after Prime Minister Narendra Modi held talks with Chinese premier Li Keqiang. Business is the main focus of PM Modi's three-day visit to China.
He will meet Indian and Chinese CEOs and address businessmen in Shanghai tomorrow.
A quick glance at the agreements signed today:
1. Protocol for establishment of consulates in Chengdu and Chennai
2. Cooperation in vocational education and skill development and setting up of Mahatma Gandhi institute on skill development in India
3. Consultative mechanism on cooperation in trade negotiations
4. Cooperation between Foreign Ministry and and Central
Committee of Communist Party of China (CCCPC)
5. Action plan between national railway administration of China and Indian Railways
6. Memorandum of Understanding on education exchange programme
7. Cooperation in the fields of mining and minerals
8. Space cooperation outline
9. Safety regulations on importing Indian rapeseed meal
10. Broadcasting agreement between CCTV and Doordarshan
11. Agreement for cooperation in the field of tourism
12. Memorandum of Understanding on establishing India-China think tanks forum
13. Memorandum of Understanding between NITI Aayog and Development Research Centre
14. Memorandum of Understanding on cooperation in earthquake science and engineering
15. Memorandum of Understanding on cooperation in ocean sciences, climate change and cryosphere
16. Memorandum of Understanding on cooperation in geo sciences
17. Memorandum of Understanding on establishment states/provincial leaders' forum
18. Cooperation between states and municipalities - establishment of India-China state leaders forum
19. Agreement on the establishment of sister states Sichuan and Karnataka
20. Agreement on the establishment of sister cities between Chennai and Chongqing
21. Agreement on the establishment of sister cities between Hyderabad and Gingdao
22. Agreement on the establishment of sister cities Aurangabad and Dunhuang
23. Memorandum of Understanding between ICCR and Fudan University for establishment of centre for Gandhian studies
24. Memorandum of Understanding for the establishment of Yoga college in Kumning
7. India Gets 3 Sister Cities in China, and One Sister Province
Three more Indian cities will have Sister Cities in China and provincial ties will be established between Karnataka and Sichuan. This was one of the 24 agreements signed between India and China this morning during Prime Minister Narendra Modi's three-day maiden visit to the country.
The Sister Cities will be Chennai-Chongqing, Hyderabad-Qingdao and Aurangabad-Dunhuang. The two countries expressed hope that this will enhance people-to-people exchanges and foster greater mutual understanding.
8. Modi announces e-visas to Chinese nationals
Prime Minister Narendra Modi on Friday announced that India will grant e-visas to Chinese tourists.“We have decided to extend electronic tourist visas to Chinese nationals,” Mr. Modi said addressing students and faculty at the prestigious Tsinghua University in Beijing. Hours before the Prime Minister’s announcement, Foreign Secretary S. Jaishankar had said “no decision has been taken yet” on granting e-visas to Chinese tourists.
When asked about extending e-visa facility to Chinese tourists, Mr. Jaishankar on Friday morning said, “We are expanding it bit-by-bit. With regard to China, no decision has been taken yet.”
Addressing the gathering at the university, Mr. Modi said, “About 33 per cent of the world’s population is either Indian or Chinese. Yet, our people know very little of each other.”
“We must seek inspiration from the pilgrims of the ancient times, who braved the unknown in search of knowledge, and enriched us both,” he said. “So, we have decided to extend electronic tourist visas to Chinese nationals. We are celebrating the Year of India in China in 2015,” he added.
Surprisingly Mr. Modi chose to announce this significant initiative which Chinese officials have been calling for in his address to the university not during his joint appearance for the press with Premier Li Keqiang.
The announcement came in the teeth of strong opposition from the Home Ministry and security agencies over security concerns of its misuse, while the External Affairs Ministry and Ministry of tourism pressed for it. Ahead of his China visit which began on Thursday, the decision to grant e-visas was left to Mr. Modi to decide. India this year has announced ‘Visit India Year’ in China to attract more tourists in order to boost tourism revenues. While less than 2 lakh Chinese visitors to India, more Chinese travellers are visiting Nepal, Sri Lanka and Maldives enhancing their tourism revenues.
Last year 1.4 lakh Chinese visited Nepal, an increase of 70 per cent. While over four lakh Chinese visited Maldives, 1.3 lakh visited Sri Lanka, and increase of 130 per cent.
India is organising visit India year this year to entice a chunk of about 100 million Chinese tourists who visited abroad last year spending billions of dollars on shopping.
China has proposed Buddhist circuit connecting China, Nepal and Sri Lanka to attract more tourists. China has large Buddhist population. They are keen to visit Buddhist sites in India like Nalanda.The e-visa announcement was seen as a prelude India relaxing investment norms to China to attract large-scale Chinese investors.
1. Arun Shrivastava assumes charge as Syndicate Bank MD & CEOArun Shrivastava today assumed charge as Managing Director & CEO of Syndicate Bank.
He was Executive Director of Bank of India, looking after Finance, Strategy & Planning, Large Corporate & Mid Corporate Business, Corporate Debt Restructuring, Project Finance & Syndication, Credit Monitoring & Asset Recovery, Publicity & Public Relations portfolios of the bank.
Earlier, Shrivastava was overseeing the foreign subsidiaries – BoI Indonesia and Botswana and joint venture – India Zambia Bank.
He holds a Masters Degree in Science. In addition, he is also a Certified Associate of Indian Institute of Bankers and AIBM.
2. Indian-American boy Karan Menon won 2015 National Geographic Bee Championship
Karan Menon, a 14-year-old Indian-American student, won the 2015 National Geographic Bee championship. Menon answered all questions correctly related to places like Tashkent, Telangana and the Oresund Strait.
In addition to winning the title of National Geographic Bee champion, Menon received a 50000 US dollars college scholarship, lifetime membership in the National Geographic Society and an expedition for two to the Galapagos Islands aboard the Lindblad ship National Geographic Endeavour. Menon competed against 10 finalists from across the US to win the championship. Out of the 10 finalists, seven were of Indian-origin.
The first-runner up and recipient of a 25000 US dollars college scholarship was 11-year-old Shriya Yarlagadda of Michigan. The third place and a 10000 US dollars college scholarship went to Sojas Wagle of Arkansas, a 13-year-old eighth grader.
3. SBI launched contact-less card called sbiINTOUCH
State Bank of India (SBI) on 14 May 2015 launched contact-less credit and debit cards called sbiINTOUCH.
These cards are based upon the latest near-field technology (NFC). With these cards, a customer can transact by just tapping or waving it against the reader of the point-of-sale machine.These cards are more secure and hassle-free. These cards come with a fraud liability cover of 1 lakh rupees. SBI has issued 1.08 lakh new cards to its customers in the eight largest metros and the remaining customers will get the cards in the following months.
Private lenders ICICI Bank and HDFC Bank have already launched such NFC cards.
The move could boost the acceptance of SBI’s tap and pay cards. These cards are especially targeted towards fast-food outlets, coffee shops and supermarkets where customers make quick transactions.
4. RBI allowed Tap And Pay without PIN for transactions up to 2000 rupees
Reserve Bank of India (RBI) allowed Tap And Pay without PIN for transactions up to 2000 rupees. For amounts higher than that, the customer must be given the option of contact payment and would require pin authentication.
RBI decided to relax current guidelines on the needs for additional factor authentication (AFA) for small value card present transactions only using contact-less cards.
The move is expected to hasten acceptance of tap and pay electronic payments at retail outlets, in transport services and for toll payments.
Tap and pay refers to the use of near field communication technology in payment cards where instead of the traditional swiping of the card and punching in payment details, all the customer needs to do is wave a card in front of an acceptance device for the bill to be settled.
One of the preconditions set out by RBI is that the contactless card should also incorporate the latest EMV Chip technology for enabling payment beyond 2000 rupees.
Also, Banks must give customers the option to choose to pay using the regular swipe method without using NFC irrespective of the amount involved.
In most countries where payment technology has advanced NFC cards are used for payment of metro or bus fares or in electronic toll collection.
5. Union Government approved Gujarat State Climate Change Action Plan 2015-2020
The Union Ministry of Environment and Forests (MoEF) approved the Gujarat State Climate Change Action Plan 2015-2020. The plan was submitted in August 2014.
In the action plan, the state government proposed to invest more than 21000 crore rupees to create environment-friendly water resource management, public health projects, forest and environment improvement projects and agriculture improvement projects by 2020.
The plan also suggests radical changes in the functioning of government in nine sectors including agriculture, water resource management, healthcare, forest and biodiversity, renewable energy, coastal infrastructure, urban development, vulnerable community and green jobs.
The plan was prepared by The Energy and Resources Institute (TERI).
6. 24 Agreements Signed Between India and China During PM Modi's Visit
India and China have signed 24 agreements worth over 10 billion dollars in Beijing this morning after Prime Minister Narendra Modi held talks with Chinese premier Li Keqiang. Business is the main focus of PM Modi's three-day visit to China.
He will meet Indian and Chinese CEOs and address businessmen in Shanghai tomorrow.
A quick glance at the agreements signed today:
1. Protocol for establishment of consulates in Chengdu and Chennai
2. Cooperation in vocational education and skill development and setting up of Mahatma Gandhi institute on skill development in India
3. Consultative mechanism on cooperation in trade negotiations
4. Cooperation between Foreign Ministry and and Central
Committee of Communist Party of China (CCCPC)
5. Action plan between national railway administration of China and Indian Railways
6. Memorandum of Understanding on education exchange programme
7. Cooperation in the fields of mining and minerals
8. Space cooperation outline
9. Safety regulations on importing Indian rapeseed meal
10. Broadcasting agreement between CCTV and Doordarshan
11. Agreement for cooperation in the field of tourism
12. Memorandum of Understanding on establishing India-China think tanks forum
13. Memorandum of Understanding between NITI Aayog and Development Research Centre
14. Memorandum of Understanding on cooperation in earthquake science and engineering
15. Memorandum of Understanding on cooperation in ocean sciences, climate change and cryosphere
16. Memorandum of Understanding on cooperation in geo sciences
17. Memorandum of Understanding on establishment states/provincial leaders' forum
18. Cooperation between states and municipalities - establishment of India-China state leaders forum
19. Agreement on the establishment of sister states Sichuan and Karnataka
20. Agreement on the establishment of sister cities between Chennai and Chongqing
21. Agreement on the establishment of sister cities between Hyderabad and Gingdao
22. Agreement on the establishment of sister cities Aurangabad and Dunhuang
23. Memorandum of Understanding between ICCR and Fudan University for establishment of centre for Gandhian studies
24. Memorandum of Understanding for the establishment of Yoga college in Kumning
7. India Gets 3 Sister Cities in China, and One Sister Province
Three more Indian cities will have Sister Cities in China and provincial ties will be established between Karnataka and Sichuan. This was one of the 24 agreements signed between India and China this morning during Prime Minister Narendra Modi's three-day maiden visit to the country.
The Sister Cities will be Chennai-Chongqing, Hyderabad-Qingdao and Aurangabad-Dunhuang. The two countries expressed hope that this will enhance people-to-people exchanges and foster greater mutual understanding.
8. Modi announces e-visas to Chinese nationals
Prime Minister Narendra Modi on Friday announced that India will grant e-visas to Chinese tourists.“We have decided to extend electronic tourist visas to Chinese nationals,” Mr. Modi said addressing students and faculty at the prestigious Tsinghua University in Beijing. Hours before the Prime Minister’s announcement, Foreign Secretary S. Jaishankar had said “no decision has been taken yet” on granting e-visas to Chinese tourists.
When asked about extending e-visa facility to Chinese tourists, Mr. Jaishankar on Friday morning said, “We are expanding it bit-by-bit. With regard to China, no decision has been taken yet.”
Addressing the gathering at the university, Mr. Modi said, “About 33 per cent of the world’s population is either Indian or Chinese. Yet, our people know very little of each other.”
“We must seek inspiration from the pilgrims of the ancient times, who braved the unknown in search of knowledge, and enriched us both,” he said. “So, we have decided to extend electronic tourist visas to Chinese nationals. We are celebrating the Year of India in China in 2015,” he added.
Surprisingly Mr. Modi chose to announce this significant initiative which Chinese officials have been calling for in his address to the university not during his joint appearance for the press with Premier Li Keqiang.
The announcement came in the teeth of strong opposition from the Home Ministry and security agencies over security concerns of its misuse, while the External Affairs Ministry and Ministry of tourism pressed for it. Ahead of his China visit which began on Thursday, the decision to grant e-visas was left to Mr. Modi to decide. India this year has announced ‘Visit India Year’ in China to attract more tourists in order to boost tourism revenues. While less than 2 lakh Chinese visitors to India, more Chinese travellers are visiting Nepal, Sri Lanka and Maldives enhancing their tourism revenues.
Last year 1.4 lakh Chinese visited Nepal, an increase of 70 per cent. While over four lakh Chinese visited Maldives, 1.3 lakh visited Sri Lanka, and increase of 130 per cent.
India is organising visit India year this year to entice a chunk of about 100 million Chinese tourists who visited abroad last year spending billions of dollars on shopping.
China has proposed Buddhist circuit connecting China, Nepal and Sri Lanka to attract more tourists. China has large Buddhist population. They are keen to visit Buddhist sites in India like Nalanda.The e-visa announcement was seen as a prelude India relaxing investment norms to China to attract large-scale Chinese investors.
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