1. IndusInd Bank inks pact with payment processing company Worldpay
The UK-based payment processing giant Worldpay has partnered with IndusInd Bank to offer acquiring services in India.
The association will assist both the companies in processing customers’ payments and marks the first step for Worldpay in entering the Indian market — a result of the growth in eCommerce across the country, IndusInd Bank said in a filing to the BSE. “We are delighted to offer eCommerce acquiring services in India in association with Worldpay. We are confident that the association will help both organisations to contribute to the growth of the growing Indian eCommerce industry,” IndusInd Bank, Head of Transaction Banking, Ramesh Ganesan, said.
This partnership will allow each company to benefit from the other’s respective expertise in domestic and international payments, thereby, helping in promoting online payment services in India, he added. Worldpay, Deputy Chairman, Ron Kalifa said: “India’s increase in card use has meant that more of our customers are looking to expand operations in the country.”
The bank claimed that this is the first-of-its kind product in the country. The corporates can load the specified allowance onto the card every month which can be used by employees for medical expenditure at pan-India VISA/MasterCard outlets.
Highlights of this pre-paid medical card
The card comes with a free accidental death insurance of 3 lakh rupees.
It provides for free accidental death insurance and accident hospitalisation insurance apart from discounts at Apollo network including Apollo Hospitals, Apollo Pharmacies, Apollo Clinics and Apollo White Dental across India.
It offers access to additional benefits such as discounts and facilities, including free ambulance services.
3. Joe Root and Charlotte Edwards named England cricketers of the year 2014-15
Joe Root and Charlotte Edwards were named as England men’s and women’s cricketers of the year 2014-15 respectively.
Root who was recently appointed vice-captain of England's Test team was named as the cricketer of the year for scoring 1135 test runs at an average of 95 including four scores of 149 and above. His top test score of the season was of 200 not out against Sri Lanka at Lord’s. He also made three one-day international centuries.
Charlotte Edwards, the women’s captain won the award for consecutive second year. She was chosen for averaging above 75 in ODIs and nearly 60 in Twenty20 internationals in the season. Under her leadership, England secured ODI series victories against India and New Zealand, alongside T20 series wins against South Africa and New Zealand.
She was also presented the silver England cap by the England and Wales Cricket Board to celebrate her 200th match as women’s captain against New Zealand in February 2015.
Other awards announced were
• England development programme cricketer of the year award: Saqib Mahmood, the Under-19s right-arm seamer of Lancashire and England
• England disability cricketer of the year award: Luke Sugg from the England visually impaired team
4. JICA agreed to lend 1165 crore rupees for Odisha Transmission System Improvement Project
India and the Japan International Cooperation Agency (JICA) signed an ODA (Official Development Assistance) loan agreement to provide up to 21787 million yen (about 1165 crore rupees) for the Odisha Transmission System Improvement Project (OTSIP).
The agreement was signed by Joint Secretary in the Union Ministry of Finance S Selvakumar and JICA India Office Chief Representative Shinya Ejima in New Delhi.
The purpose of the loan is to assist in establishing a stable power supply to the state in advance of an expected large increase in power demand in the coming years due to rapid industrialization.
Features of ODA to OTSIP
• Transmission lines extending around 971 kilometers and 18 substations will be constructed to improve the power transmission efficiency and stabilize the power supply.
• Technologies like low-loss conductors and outdoor Gas Insulated Substations (GIS) will be established for some of the transmission lines and substations respectively for the first time in the state.
• The Odisha Power Transmission Corporation Limited will be the nodal agency to execute the project.
• The JICA will charge 0.8 percent per annum interest rate and the loan repayment period is 20 years in addition a 6 years grace period.
• The project will be completed by January 2020.
JICA has extended about 3400 crore rupees in ODA loans since 1981 for all-round development in Odisha.
It has also provided for loans up to 65260 crore rupees in ODA loans since 1958 for enhancement of power generation and transmission infrastructure in India.
5. Fourth Corvette of Project-28 christened Kavaratti launched
The fourth Anti Submarine Warfare (ASW) Corvette of Project-28 christened Kavaratti was launched at Garden Reach Shipbuilders and Engineers Ltd (GRSE), Kolkata.
In keeping with the nautical traditions, the ship was launched by Manita Singh, wife of the Hon’ble Union Minister of State for Defence Rao Inderjit Singh.
The four ships of Project-28 built by GRSE, Kolkata have been designed indigenously by the Directorate of Naval Design, New Delhi and bear the testimony to the acclaimed legacy of Naval Designers. The ships have been constructed using high grade steel (DMR 249A) produced in India.
Key Characteristics of ASW Corvettes
With a displacement of 3300 tonnes, the sleek and magnificent ASW Corvettes span 109.1 meters in length and 13.7 meters at the beam. They are propelled by four diesel engines to achieve speeds in excess of 25 knots and have an endurance of more than 3000 Nm.
The P-28 corvettes also boast of revolutionary Rail-less Helo Traversing System, Foldable Hangar Door, use of Personnel Locator System and use of Carbon Fibre Reinforced Plastic (CFRP) Superstructure integrated with the Steel Hull in the third and fourth ships of the Class.
These ships have common raft mounted Gear Box and Diesel Engines, which give the vessels very low radiated underwater noise.The P-28 Ships also have Total Atmospheric Control System (TACS) and an Integrated Platform Management System (IPMS) which include Integrated Bridge System as well as Battle Damage Control System.
They also incorporate new design concepts for improved survivability, sea keeping, stealth and manoeuvrability. Enhanced stealth features of the corvettes have been achieved by including Low Radar Cross Section (RCS) signature through full beam superstructure, inclined ship sides and reduced Infra Red (IR) signature by use of Infra Red Suppression System (IRSS) device.
The ships are also equipped to carry and operate one multiple role helicopter.
6. Delhi Government decided to launch Pay & Play Scheme to promote sports
The state government of Delhi decided to launch Pay & Play Scheme at the designated stadiums or sports complexes. The scheme is planned to promote sports for all age groups in the national capital.
The scheme would begin from 1 July 2015 in the morning session from 6 am to 9.30 am. The facilities would be free of cost for school students and disabled person
Under the scheme, people can play game available within the stadiums and complexes by paying a nominal fee of 100 rupees per month.
For this purpose, the state government has ordered opening up of several stadiums and sports complexes. It has also decided that academies or clubs or individuals will have access to government schools for sports promotion.
At present, the membership for sports facilities is available in Thyagraj Stadium, Ludlow Castle Sports Complex and Chhatrasal Stadium.
7. GMR Infra signed MoU with GIIC for developing Kakinada SEZ
GMR Infrastructure Ltd signed a Memorandum of understanding (MoU) with Guizhou International Investment Corporation (GIIC) for developing Kakinada Special Economic Zone (KSEZ) in Andhra Pradesh.
The MoU was signed by Challa Prasanna, President of Kakinada SEZ (KSEZ) Pvt Ltd. It seeks to set up industrial park for Chinese high-end equipment manufacturing companies in Kakinada SEZ (KSEZ).
In this regard, GIIC plans to set up 2000 acres industrial park. The fully developed facility by KSEZ and GIIC will in turn generate over 5000 jobs for both skilled and unskilled workers.
For developing the infrastructure and various facilities of the industrial park, GIIC will invest 500 million US dollars. In addition, Chinese companies setting up units at the park will invest 2-3 billion US dollars on their operations for over five years.
About Kakinada Special Economic Zone
• The Kakinada Special Economic Zone (KSEZ) is a port based Multi Product Special Economic Zone, spread over approximately 10500 acres.
• Situated strategically on the Eastern Coast in an area rich in oil and natural gas deposits, this zone has an excellent logistical linkages to National Highways, Railway networks, Air and Sea Ports.
• This SEZ caters to the existing process industries and emerging industries like Refinery, Renewable Energy, Ship Building, Biotech, Nanotech, IT/ITES, Toys, Games and Sports Goods manufacturing Park, etc.
8. Infosys announced to become carbon neutral by 2018
Infosys announced to become carbon neutral by 2018. For this it earmarked an amount of 400 crore rupees. The company announced to achieve carbon-neutrality on commuting and travel by its nearly 1.8 lakh employees and in doing so deepens its commitment to sustainability.
The company will offset 3.74 lakh tonne of carbon dioxide attributed to employees' travel, and it will spend 70 crore rupees in 2015 on initiatives such as installing solar projects for rural electrification, biogas plants and distribution of smokeless cook-stoves in villages, besides afforestation.
As part of its journey toward sustainability, Infosys will commission 55 MW of solar capacity, including 40 MW in Karnataka, in 2016. It will add another 110 MW of solar capacity in the coming years. It is already generating energy from 2.7 MW capacity solar panels on rooftops across its campuses in India.
Infosys consumed 257 million units of electricity globally during 2014-15, and 30 per cent of this came from renewable energy sources.
9. SBI ties up with Amazon
Amid a wave of e-commerce and surge in online payments, State Bank of India has partnered with global e-commerce firm Amazon to service its customers and small businesses.
"SBI and Amazon will develop trusted, frictionless payments and commerce solutions for customers and small businesses, capitalising on the exponential growth in internet penetration to drive the adoption of ecommerce and m-commerce in India," SBI said in a statement.
"We are working on ways to enrich customers' patent experience and opening up windows of e-commerce to our SME customers...We have a great opportunity to work tofwter to transform how India shops and sells," said Arundhati Bhattacharya, Chairman of SBI.
10. IDBI Bank to launch e-huts for services in rural areas
IDBI Bank is set to expand its branch network to 2,000 by the end of the current year from 1,740 now, besides rolling out e-huts to provide services to people in rural areas.
Addressing a press conference, Deputy Managing Director of IDBI Bank Melwyn Rego said the bank has introduced e-lobbies, which are next to branches, across the country.
E-hut is a western concept and is set up at relatively populated areas, such as malls.
Rego, who was in Goa to inaugurate two branches, was accompanied by Chief General Manager Pradip Kumar Das and Regional Head Shashank Dixit. The bank has 3,100 ATMs across the country.
Rego said the bank focuses on retail banking, predominantly financing housing, automobile, education and medium, small and micro enterprises (MSMEs). It is slowly shifting focus to the corporate sector.
Business growth
IDBI Bank has registered 22 per cent growth in CASA (Current Account, Savings Account) business as against the industry growth of 12-13 per cent, he added.
Though Rego declined to go into details of profitability and NPAs ahead of its Board meeting, he said the economic cycle is down at this juncture, even as expectations are quite high for the near future.
11. Plans to launch ‘DD Kisan’ on Modi govt’s 1st anniversary
As it plans a series of events to mark its first year in office on May 26, the government is considering to launch ‘DD Kisan’, a 24—hour channel for farmers, on the occasion.
Sources said the move was under “active consideration” of the Ministry of Information and Broadcasting and Prasar Bharati but added that a final decision was yet to be taken.
“The preparations for the launch of the DD Kisan channels are at a very advanced stage. There is a suggestion that it can be launched as the government marks its first year,” a senior official said.
The source, however, said that a final decision will only be taken in consultation with the Prime Minister’s Office. After it came to power, the NDA government had announced that it will launch a 24—hour TV channel for farmers.
In his Union Budget 2014 speech, Finance Minister Arun Jaitley, who now also holds the charge of the I&B ministry, had announced that a 24—hour TV channel will be dedicated to the agriculture sector, for which he had marked an outlay of Rs. 100 crore.
Preparations for the launch of this “niche edu—tainment” channel have been on full—swing. The public broadcaster has been exploring tie—ups with several experts’ bodies such as Indian Meteorological Department, National Commodity and Derivatives Exchange, Indian Agriculture Research Institute to produce programmes which provide accurate information for farmers.
12. Shivani Agarwal and Maharaja Pandit selected for prestigious Radcliffe Fellowship by Harvard University
Two Indians from Indian Institute of Science, and University of Delhi have been named for Harvard University's prestigious Radcliffe fellowship.
Shivani Agarwal from Indian Institute of Science and Maharaja Pandit from University of Delhi are among 50 scholars, scientists, and artists who will begin their one-year fellowships along with 48 at the Radcliffe Institute in September 2015, a media release said
Considered as one of the most prestigious honors for faculty, only three per cent of applicants were accepted this year.
Shivani, William and Flora Hewlett Foundation Fellow has been selected for learning to make choices in the era of big data.
Mr Pandit has been selected for his project life in Himalaya.
"It is an honor to provide these innovative thinkers with time, space, and intellectual stimulation to do their best work in ways that often defy expectations and disciplinary boundaries," said Radcliffe Institute Dean Lizabeth Cohen.
13.Maria Elena South, driest place on earth discovered in Atacama Desert, Chile
Researchers have discovered the driest location on Earth in the Atacama Desert in Chile - and they were surprised to find some bacteria living there, according to NASA's Astrobiology magazine. The site is reported to be as dry as Mars.
The site is called Maria Elena South (MES). Armando Azua-Bustos, an environmental biologist and research scientist at the Blue Marble Space Institute of Science in Seattle, says the team discovered that MES has a mean atmospheric relative humidity (RH) of 17.3 percent and a soil RH of a constant 14 percent at a depth of one meter. This soil value matches the lowest RH measurements taken by the Mars Science Laboratory at Gale Crater on Mars, establishing the fact that conditions at the site are as dry as those found recently on the Martian surface.
This discovery has toppled the Yungay region as the driest area of the hyper-arid Atacama desert, with conditions close to the so-called "dry limit" for life on Earth. Several academic papers have been published reporting on the extraordinary characteristics of the Yungay site and its relevance to astrobiologists as an analogue of conditions on Mars. However, following a more systematic search of the desert, a Chilean research team has now found that MES is "much drier" than Yungay.
The UK-based payment processing giant Worldpay has partnered with IndusInd Bank to offer acquiring services in India.
The association will assist both the companies in processing customers’ payments and marks the first step for Worldpay in entering the Indian market — a result of the growth in eCommerce across the country, IndusInd Bank said in a filing to the BSE. “We are delighted to offer eCommerce acquiring services in India in association with Worldpay. We are confident that the association will help both organisations to contribute to the growth of the growing Indian eCommerce industry,” IndusInd Bank, Head of Transaction Banking, Ramesh Ganesan, said.
This partnership will allow each company to benefit from the other’s respective expertise in domestic and international payments, thereby, helping in promoting online payment services in India, he added. Worldpay, Deputy Chairman, Ron Kalifa said: “India’s increase in card use has meant that more of our customers are looking to expand operations in the country.”
2. HDFC Bank launched HDFC Bank Apollo Medical Benefits Card
HDFC Bank in partnership with Apollo Hospitals launched HDFC Bank Apollo Medical Benefits Card, a co-branded medical benefits card which allows corporates to disburse medical allowances to their employees and has insurance cover for accidents.The bank claimed that this is the first-of-its kind product in the country. The corporates can load the specified allowance onto the card every month which can be used by employees for medical expenditure at pan-India VISA/MasterCard outlets.
Highlights of this pre-paid medical card
The card comes with a free accidental death insurance of 3 lakh rupees.
It provides for free accidental death insurance and accident hospitalisation insurance apart from discounts at Apollo network including Apollo Hospitals, Apollo Pharmacies, Apollo Clinics and Apollo White Dental across India.
It offers access to additional benefits such as discounts and facilities, including free ambulance services.
3. Joe Root and Charlotte Edwards named England cricketers of the year 2014-15
Joe Root and Charlotte Edwards were named as England men’s and women’s cricketers of the year 2014-15 respectively.
Root who was recently appointed vice-captain of England's Test team was named as the cricketer of the year for scoring 1135 test runs at an average of 95 including four scores of 149 and above. His top test score of the season was of 200 not out against Sri Lanka at Lord’s. He also made three one-day international centuries.
Charlotte Edwards, the women’s captain won the award for consecutive second year. She was chosen for averaging above 75 in ODIs and nearly 60 in Twenty20 internationals in the season. Under her leadership, England secured ODI series victories against India and New Zealand, alongside T20 series wins against South Africa and New Zealand.
She was also presented the silver England cap by the England and Wales Cricket Board to celebrate her 200th match as women’s captain against New Zealand in February 2015.
Other awards announced were
• England development programme cricketer of the year award: Saqib Mahmood, the Under-19s right-arm seamer of Lancashire and England
• England disability cricketer of the year award: Luke Sugg from the England visually impaired team
4. JICA agreed to lend 1165 crore rupees for Odisha Transmission System Improvement Project
India and the Japan International Cooperation Agency (JICA) signed an ODA (Official Development Assistance) loan agreement to provide up to 21787 million yen (about 1165 crore rupees) for the Odisha Transmission System Improvement Project (OTSIP).
The agreement was signed by Joint Secretary in the Union Ministry of Finance S Selvakumar and JICA India Office Chief Representative Shinya Ejima in New Delhi.
The purpose of the loan is to assist in establishing a stable power supply to the state in advance of an expected large increase in power demand in the coming years due to rapid industrialization.
Features of ODA to OTSIP
• Transmission lines extending around 971 kilometers and 18 substations will be constructed to improve the power transmission efficiency and stabilize the power supply.
• Technologies like low-loss conductors and outdoor Gas Insulated Substations (GIS) will be established for some of the transmission lines and substations respectively for the first time in the state.
• The Odisha Power Transmission Corporation Limited will be the nodal agency to execute the project.
• The JICA will charge 0.8 percent per annum interest rate and the loan repayment period is 20 years in addition a 6 years grace period.
• The project will be completed by January 2020.
JICA has extended about 3400 crore rupees in ODA loans since 1981 for all-round development in Odisha.
It has also provided for loans up to 65260 crore rupees in ODA loans since 1958 for enhancement of power generation and transmission infrastructure in India.
5. Fourth Corvette of Project-28 christened Kavaratti launched
The fourth Anti Submarine Warfare (ASW) Corvette of Project-28 christened Kavaratti was launched at Garden Reach Shipbuilders and Engineers Ltd (GRSE), Kolkata.
In keeping with the nautical traditions, the ship was launched by Manita Singh, wife of the Hon’ble Union Minister of State for Defence Rao Inderjit Singh.
The four ships of Project-28 built by GRSE, Kolkata have been designed indigenously by the Directorate of Naval Design, New Delhi and bear the testimony to the acclaimed legacy of Naval Designers. The ships have been constructed using high grade steel (DMR 249A) produced in India.
Key Characteristics of ASW Corvettes
With a displacement of 3300 tonnes, the sleek and magnificent ASW Corvettes span 109.1 meters in length and 13.7 meters at the beam. They are propelled by four diesel engines to achieve speeds in excess of 25 knots and have an endurance of more than 3000 Nm.
The P-28 corvettes also boast of revolutionary Rail-less Helo Traversing System, Foldable Hangar Door, use of Personnel Locator System and use of Carbon Fibre Reinforced Plastic (CFRP) Superstructure integrated with the Steel Hull in the third and fourth ships of the Class.
These ships have common raft mounted Gear Box and Diesel Engines, which give the vessels very low radiated underwater noise.The P-28 Ships also have Total Atmospheric Control System (TACS) and an Integrated Platform Management System (IPMS) which include Integrated Bridge System as well as Battle Damage Control System.
They also incorporate new design concepts for improved survivability, sea keeping, stealth and manoeuvrability. Enhanced stealth features of the corvettes have been achieved by including Low Radar Cross Section (RCS) signature through full beam superstructure, inclined ship sides and reduced Infra Red (IR) signature by use of Infra Red Suppression System (IRSS) device.
The ships are also equipped to carry and operate one multiple role helicopter.
6. Delhi Government decided to launch Pay & Play Scheme to promote sports
The state government of Delhi decided to launch Pay & Play Scheme at the designated stadiums or sports complexes. The scheme is planned to promote sports for all age groups in the national capital.
The scheme would begin from 1 July 2015 in the morning session from 6 am to 9.30 am. The facilities would be free of cost for school students and disabled person
Under the scheme, people can play game available within the stadiums and complexes by paying a nominal fee of 100 rupees per month.
For this purpose, the state government has ordered opening up of several stadiums and sports complexes. It has also decided that academies or clubs or individuals will have access to government schools for sports promotion.
At present, the membership for sports facilities is available in Thyagraj Stadium, Ludlow Castle Sports Complex and Chhatrasal Stadium.
7. GMR Infra signed MoU with GIIC for developing Kakinada SEZ
GMR Infrastructure Ltd signed a Memorandum of understanding (MoU) with Guizhou International Investment Corporation (GIIC) for developing Kakinada Special Economic Zone (KSEZ) in Andhra Pradesh.
The MoU was signed by Challa Prasanna, President of Kakinada SEZ (KSEZ) Pvt Ltd. It seeks to set up industrial park for Chinese high-end equipment manufacturing companies in Kakinada SEZ (KSEZ).
In this regard, GIIC plans to set up 2000 acres industrial park. The fully developed facility by KSEZ and GIIC will in turn generate over 5000 jobs for both skilled and unskilled workers.
For developing the infrastructure and various facilities of the industrial park, GIIC will invest 500 million US dollars. In addition, Chinese companies setting up units at the park will invest 2-3 billion US dollars on their operations for over five years.
About Kakinada Special Economic Zone
• The Kakinada Special Economic Zone (KSEZ) is a port based Multi Product Special Economic Zone, spread over approximately 10500 acres.
• Situated strategically on the Eastern Coast in an area rich in oil and natural gas deposits, this zone has an excellent logistical linkages to National Highways, Railway networks, Air and Sea Ports.
• This SEZ caters to the existing process industries and emerging industries like Refinery, Renewable Energy, Ship Building, Biotech, Nanotech, IT/ITES, Toys, Games and Sports Goods manufacturing Park, etc.
8. Infosys announced to become carbon neutral by 2018
Infosys announced to become carbon neutral by 2018. For this it earmarked an amount of 400 crore rupees. The company announced to achieve carbon-neutrality on commuting and travel by its nearly 1.8 lakh employees and in doing so deepens its commitment to sustainability.
The company will offset 3.74 lakh tonne of carbon dioxide attributed to employees' travel, and it will spend 70 crore rupees in 2015 on initiatives such as installing solar projects for rural electrification, biogas plants and distribution of smokeless cook-stoves in villages, besides afforestation.
As part of its journey toward sustainability, Infosys will commission 55 MW of solar capacity, including 40 MW in Karnataka, in 2016. It will add another 110 MW of solar capacity in the coming years. It is already generating energy from 2.7 MW capacity solar panels on rooftops across its campuses in India.
Infosys consumed 257 million units of electricity globally during 2014-15, and 30 per cent of this came from renewable energy sources.
9. SBI ties up with Amazon
Amid a wave of e-commerce and surge in online payments, State Bank of India has partnered with global e-commerce firm Amazon to service its customers and small businesses.
"SBI and Amazon will develop trusted, frictionless payments and commerce solutions for customers and small businesses, capitalising on the exponential growth in internet penetration to drive the adoption of ecommerce and m-commerce in India," SBI said in a statement.
"We are working on ways to enrich customers' patent experience and opening up windows of e-commerce to our SME customers...We have a great opportunity to work tofwter to transform how India shops and sells," said Arundhati Bhattacharya, Chairman of SBI.
10. IDBI Bank to launch e-huts for services in rural areas
IDBI Bank is set to expand its branch network to 2,000 by the end of the current year from 1,740 now, besides rolling out e-huts to provide services to people in rural areas.
Addressing a press conference, Deputy Managing Director of IDBI Bank Melwyn Rego said the bank has introduced e-lobbies, which are next to branches, across the country.
E-hut is a western concept and is set up at relatively populated areas, such as malls.
Rego, who was in Goa to inaugurate two branches, was accompanied by Chief General Manager Pradip Kumar Das and Regional Head Shashank Dixit. The bank has 3,100 ATMs across the country.
Rego said the bank focuses on retail banking, predominantly financing housing, automobile, education and medium, small and micro enterprises (MSMEs). It is slowly shifting focus to the corporate sector.
Business growth
IDBI Bank has registered 22 per cent growth in CASA (Current Account, Savings Account) business as against the industry growth of 12-13 per cent, he added.
Though Rego declined to go into details of profitability and NPAs ahead of its Board meeting, he said the economic cycle is down at this juncture, even as expectations are quite high for the near future.
11. Plans to launch ‘DD Kisan’ on Modi govt’s 1st anniversary
As it plans a series of events to mark its first year in office on May 26, the government is considering to launch ‘DD Kisan’, a 24—hour channel for farmers, on the occasion.
Sources said the move was under “active consideration” of the Ministry of Information and Broadcasting and Prasar Bharati but added that a final decision was yet to be taken.
“The preparations for the launch of the DD Kisan channels are at a very advanced stage. There is a suggestion that it can be launched as the government marks its first year,” a senior official said.
The source, however, said that a final decision will only be taken in consultation with the Prime Minister’s Office. After it came to power, the NDA government had announced that it will launch a 24—hour TV channel for farmers.
In his Union Budget 2014 speech, Finance Minister Arun Jaitley, who now also holds the charge of the I&B ministry, had announced that a 24—hour TV channel will be dedicated to the agriculture sector, for which he had marked an outlay of Rs. 100 crore.
Preparations for the launch of this “niche edu—tainment” channel have been on full—swing. The public broadcaster has been exploring tie—ups with several experts’ bodies such as Indian Meteorological Department, National Commodity and Derivatives Exchange, Indian Agriculture Research Institute to produce programmes which provide accurate information for farmers.
12. Shivani Agarwal and Maharaja Pandit selected for prestigious Radcliffe Fellowship by Harvard University
Two Indians from Indian Institute of Science, and University of Delhi have been named for Harvard University's prestigious Radcliffe fellowship.
Shivani Agarwal from Indian Institute of Science and Maharaja Pandit from University of Delhi are among 50 scholars, scientists, and artists who will begin their one-year fellowships along with 48 at the Radcliffe Institute in September 2015, a media release said
Considered as one of the most prestigious honors for faculty, only three per cent of applicants were accepted this year.
Shivani, William and Flora Hewlett Foundation Fellow has been selected for learning to make choices in the era of big data.
Mr Pandit has been selected for his project life in Himalaya.
"It is an honor to provide these innovative thinkers with time, space, and intellectual stimulation to do their best work in ways that often defy expectations and disciplinary boundaries," said Radcliffe Institute Dean Lizabeth Cohen.
13.Maria Elena South, driest place on earth discovered in Atacama Desert, Chile
Researchers have discovered the driest location on Earth in the Atacama Desert in Chile - and they were surprised to find some bacteria living there, according to NASA's Astrobiology magazine. The site is reported to be as dry as Mars.
The site is called Maria Elena South (MES). Armando Azua-Bustos, an environmental biologist and research scientist at the Blue Marble Space Institute of Science in Seattle, says the team discovered that MES has a mean atmospheric relative humidity (RH) of 17.3 percent and a soil RH of a constant 14 percent at a depth of one meter. This soil value matches the lowest RH measurements taken by the Mars Science Laboratory at Gale Crater on Mars, establishing the fact that conditions at the site are as dry as those found recently on the Martian surface.
This discovery has toppled the Yungay region as the driest area of the hyper-arid Atacama desert, with conditions close to the so-called "dry limit" for life on Earth. Several academic papers have been published reporting on the extraordinary characteristics of the Yungay site and its relevance to astrobiologists as an analogue of conditions on Mars. However, following a more systematic search of the desert, a Chilean research team has now found that MES is "much drier" than Yungay.
1. IndusInd Bank inks pact with payment processing company Worldpay
The UK-based payment processing giant Worldpay has partnered with IndusInd Bank to offer acquiring services in India.
The association will assist both the companies in processing customers’ payments and marks the first step for Worldpay in entering the Indian market — a result of the growth in eCommerce across the country, IndusInd Bank said in a filing to the BSE. “We are delighted to offer eCommerce acquiring services in India in association with Worldpay. We are confident that the association will help both organisations to contribute to the growth of the growing Indian eCommerce industry,” IndusInd Bank, Head of Transaction Banking, Ramesh Ganesan, said.
This partnership will allow each company to benefit from the other’s respective expertise in domestic and international payments, thereby, helping in promoting online payment services in India, he added. Worldpay, Deputy Chairman, Ron Kalifa said: “India’s increase in card use has meant that more of our customers are looking to expand operations in the country.”
The bank claimed that this is the first-of-its kind product in the country. The corporates can load the specified allowance onto the card every month which can be used by employees for medical expenditure at pan-India VISA/MasterCard outlets.
Highlights of this pre-paid medical card
The card comes with a free accidental death insurance of 3 lakh rupees.
It provides for free accidental death insurance and accident hospitalisation insurance apart from discounts at Apollo network including Apollo Hospitals, Apollo Pharmacies, Apollo Clinics and Apollo White Dental across India.
It offers access to additional benefits such as discounts and facilities, including free ambulance services.
3. Joe Root and Charlotte Edwards named England cricketers of the year 2014-15
Joe Root and Charlotte Edwards were named as England men’s and women’s cricketers of the year 2014-15 respectively.
Root who was recently appointed vice-captain of England's Test team was named as the cricketer of the year for scoring 1135 test runs at an average of 95 including four scores of 149 and above. His top test score of the season was of 200 not out against Sri Lanka at Lord’s. He also made three one-day international centuries.
Charlotte Edwards, the women’s captain won the award for consecutive second year. She was chosen for averaging above 75 in ODIs and nearly 60 in Twenty20 internationals in the season. Under her leadership, England secured ODI series victories against India and New Zealand, alongside T20 series wins against South Africa and New Zealand.
She was also presented the silver England cap by the England and Wales Cricket Board to celebrate her 200th match as women’s captain against New Zealand in February 2015.
Other awards announced were
• England development programme cricketer of the year award: Saqib Mahmood, the Under-19s right-arm seamer of Lancashire and England
• England disability cricketer of the year award: Luke Sugg from the England visually impaired team
4. JICA agreed to lend 1165 crore rupees for Odisha Transmission System Improvement Project
India and the Japan International Cooperation Agency (JICA) signed an ODA (Official Development Assistance) loan agreement to provide up to 21787 million yen (about 1165 crore rupees) for the Odisha Transmission System Improvement Project (OTSIP).
The agreement was signed by Joint Secretary in the Union Ministry of Finance S Selvakumar and JICA India Office Chief Representative Shinya Ejima in New Delhi.
The purpose of the loan is to assist in establishing a stable power supply to the state in advance of an expected large increase in power demand in the coming years due to rapid industrialization.
Features of ODA to OTSIP
• Transmission lines extending around 971 kilometers and 18 substations will be constructed to improve the power transmission efficiency and stabilize the power supply.
• Technologies like low-loss conductors and outdoor Gas Insulated Substations (GIS) will be established for some of the transmission lines and substations respectively for the first time in the state.
• The Odisha Power Transmission Corporation Limited will be the nodal agency to execute the project.
• The JICA will charge 0.8 percent per annum interest rate and the loan repayment period is 20 years in addition a 6 years grace period.
• The project will be completed by January 2020.
JICA has extended about 3400 crore rupees in ODA loans since 1981 for all-round development in Odisha.
It has also provided for loans up to 65260 crore rupees in ODA loans since 1958 for enhancement of power generation and transmission infrastructure in India.
5. Fourth Corvette of Project-28 christened Kavaratti launched
The fourth Anti Submarine Warfare (ASW) Corvette of Project-28 christened Kavaratti was launched at Garden Reach Shipbuilders and Engineers Ltd (GRSE), Kolkata.
In keeping with the nautical traditions, the ship was launched by Manita Singh, wife of the Hon’ble Union Minister of State for Defence Rao Inderjit Singh.
The four ships of Project-28 built by GRSE, Kolkata have been designed indigenously by the Directorate of Naval Design, New Delhi and bear the testimony to the acclaimed legacy of Naval Designers. The ships have been constructed using high grade steel (DMR 249A) produced in India.
Key Characteristics of ASW Corvettes
With a displacement of 3300 tonnes, the sleek and magnificent ASW Corvettes span 109.1 meters in length and 13.7 meters at the beam. They are propelled by four diesel engines to achieve speeds in excess of 25 knots and have an endurance of more than 3000 Nm.
The P-28 corvettes also boast of revolutionary Rail-less Helo Traversing System, Foldable Hangar Door, use of Personnel Locator System and use of Carbon Fibre Reinforced Plastic (CFRP) Superstructure integrated with the Steel Hull in the third and fourth ships of the Class.
These ships have common raft mounted Gear Box and Diesel Engines, which give the vessels very low radiated underwater noise.The P-28 Ships also have Total Atmospheric Control System (TACS) and an Integrated Platform Management System (IPMS) which include Integrated Bridge System as well as Battle Damage Control System.
They also incorporate new design concepts for improved survivability, sea keeping, stealth and manoeuvrability. Enhanced stealth features of the corvettes have been achieved by including Low Radar Cross Section (RCS) signature through full beam superstructure, inclined ship sides and reduced Infra Red (IR) signature by use of Infra Red Suppression System (IRSS) device.
The ships are also equipped to carry and operate one multiple role helicopter.
6. Delhi Government decided to launch Pay & Play Scheme to promote sports
The state government of Delhi decided to launch Pay & Play Scheme at the designated stadiums or sports complexes. The scheme is planned to promote sports for all age groups in the national capital.
The scheme would begin from 1 July 2015 in the morning session from 6 am to 9.30 am. The facilities would be free of cost for school students and disabled person
Under the scheme, people can play game available within the stadiums and complexes by paying a nominal fee of 100 rupees per month.
For this purpose, the state government has ordered opening up of several stadiums and sports complexes. It has also decided that academies or clubs or individuals will have access to government schools for sports promotion.
At present, the membership for sports facilities is available in Thyagraj Stadium, Ludlow Castle Sports Complex and Chhatrasal Stadium.
7. GMR Infra signed MoU with GIIC for developing Kakinada SEZ
GMR Infrastructure Ltd signed a Memorandum of understanding (MoU) with Guizhou International Investment Corporation (GIIC) for developing Kakinada Special Economic Zone (KSEZ) in Andhra Pradesh.
The MoU was signed by Challa Prasanna, President of Kakinada SEZ (KSEZ) Pvt Ltd. It seeks to set up industrial park for Chinese high-end equipment manufacturing companies in Kakinada SEZ (KSEZ).
In this regard, GIIC plans to set up 2000 acres industrial park. The fully developed facility by KSEZ and GIIC will in turn generate over 5000 jobs for both skilled and unskilled workers.
For developing the infrastructure and various facilities of the industrial park, GIIC will invest 500 million US dollars. In addition, Chinese companies setting up units at the park will invest 2-3 billion US dollars on their operations for over five years.
About Kakinada Special Economic Zone
• The Kakinada Special Economic Zone (KSEZ) is a port based Multi Product Special Economic Zone, spread over approximately 10500 acres.
• Situated strategically on the Eastern Coast in an area rich in oil and natural gas deposits, this zone has an excellent logistical linkages to National Highways, Railway networks, Air and Sea Ports.
• This SEZ caters to the existing process industries and emerging industries like Refinery, Renewable Energy, Ship Building, Biotech, Nanotech, IT/ITES, Toys, Games and Sports Goods manufacturing Park, etc.
8. Infosys announced to become carbon neutral by 2018
Infosys announced to become carbon neutral by 2018. For this it earmarked an amount of 400 crore rupees. The company announced to achieve carbon-neutrality on commuting and travel by its nearly 1.8 lakh employees and in doing so deepens its commitment to sustainability.
The company will offset 3.74 lakh tonne of carbon dioxide attributed to employees' travel, and it will spend 70 crore rupees in 2015 on initiatives such as installing solar projects for rural electrification, biogas plants and distribution of smokeless cook-stoves in villages, besides afforestation.
As part of its journey toward sustainability, Infosys will commission 55 MW of solar capacity, including 40 MW in Karnataka, in 2016. It will add another 110 MW of solar capacity in the coming years. It is already generating energy from 2.7 MW capacity solar panels on rooftops across its campuses in India.
Infosys consumed 257 million units of electricity globally during 2014-15, and 30 per cent of this came from renewable energy sources.
9. SBI ties up with Amazon
Amid a wave of e-commerce and surge in online payments, State Bank of India has partnered with global e-commerce firm Amazon to service its customers and small businesses.
"SBI and Amazon will develop trusted, frictionless payments and commerce solutions for customers and small businesses, capitalising on the exponential growth in internet penetration to drive the adoption of ecommerce and m-commerce in India," SBI said in a statement.
"We are working on ways to enrich customers' patent experience and opening up windows of e-commerce to our SME customers...We have a great opportunity to work tofwter to transform how India shops and sells," said Arundhati Bhattacharya, Chairman of SBI.
10. IDBI Bank to launch e-huts for services in rural areas
IDBI Bank is set to expand its branch network to 2,000 by the end of the current year from 1,740 now, besides rolling out e-huts to provide services to people in rural areas.
Addressing a press conference, Deputy Managing Director of IDBI Bank Melwyn Rego said the bank has introduced e-lobbies, which are next to branches, across the country.
E-hut is a western concept and is set up at relatively populated areas, such as malls.
Rego, who was in Goa to inaugurate two branches, was accompanied by Chief General Manager Pradip Kumar Das and Regional Head Shashank Dixit. The bank has 3,100 ATMs across the country.
Rego said the bank focuses on retail banking, predominantly financing housing, automobile, education and medium, small and micro enterprises (MSMEs). It is slowly shifting focus to the corporate sector.
Business growth
IDBI Bank has registered 22 per cent growth in CASA (Current Account, Savings Account) business as against the industry growth of 12-13 per cent, he added.
Though Rego declined to go into details of profitability and NPAs ahead of its Board meeting, he said the economic cycle is down at this juncture, even as expectations are quite high for the near future.
11. Plans to launch ‘DD Kisan’ on Modi govt’s 1st anniversary
As it plans a series of events to mark its first year in office on May 26, the government is considering to launch ‘DD Kisan’, a 24—hour channel for farmers, on the occasion.
Sources said the move was under “active consideration” of the Ministry of Information and Broadcasting and Prasar Bharati but added that a final decision was yet to be taken.
“The preparations for the launch of the DD Kisan channels are at a very advanced stage. There is a suggestion that it can be launched as the government marks its first year,” a senior official said.
The source, however, said that a final decision will only be taken in consultation with the Prime Minister’s Office. After it came to power, the NDA government had announced that it will launch a 24—hour TV channel for farmers.
In his Union Budget 2014 speech, Finance Minister Arun Jaitley, who now also holds the charge of the I&B ministry, had announced that a 24—hour TV channel will be dedicated to the agriculture sector, for which he had marked an outlay of Rs. 100 crore.
Preparations for the launch of this “niche edu—tainment” channel have been on full—swing. The public broadcaster has been exploring tie—ups with several experts’ bodies such as Indian Meteorological Department, National Commodity and Derivatives Exchange, Indian Agriculture Research Institute to produce programmes which provide accurate information for farmers.
12. Shivani Agarwal and Maharaja Pandit selected for prestigious Radcliffe Fellowship by Harvard University
Two Indians from Indian Institute of Science, and University of Delhi have been named for Harvard University's prestigious Radcliffe fellowship.
Shivani Agarwal from Indian Institute of Science and Maharaja Pandit from University of Delhi are among 50 scholars, scientists, and artists who will begin their one-year fellowships along with 48 at the Radcliffe Institute in September 2015, a media release said
Considered as one of the most prestigious honors for faculty, only three per cent of applicants were accepted this year.
Shivani, William and Flora Hewlett Foundation Fellow has been selected for learning to make choices in the era of big data.
Mr Pandit has been selected for his project life in Himalaya.
"It is an honor to provide these innovative thinkers with time, space, and intellectual stimulation to do their best work in ways that often defy expectations and disciplinary boundaries," said Radcliffe Institute Dean Lizabeth Cohen.
13.Maria Elena South, driest place on earth discovered in Atacama Desert, Chile
Researchers have discovered the driest location on Earth in the Atacama Desert in Chile - and they were surprised to find some bacteria living there, according to NASA's Astrobiology magazine. The site is reported to be as dry as Mars.
The site is called Maria Elena South (MES). Armando Azua-Bustos, an environmental biologist and research scientist at the Blue Marble Space Institute of Science in Seattle, says the team discovered that MES has a mean atmospheric relative humidity (RH) of 17.3 percent and a soil RH of a constant 14 percent at a depth of one meter. This soil value matches the lowest RH measurements taken by the Mars Science Laboratory at Gale Crater on Mars, establishing the fact that conditions at the site are as dry as those found recently on the Martian surface.
This discovery has toppled the Yungay region as the driest area of the hyper-arid Atacama desert, with conditions close to the so-called "dry limit" for life on Earth. Several academic papers have been published reporting on the extraordinary characteristics of the Yungay site and its relevance to astrobiologists as an analogue of conditions on Mars. However, following a more systematic search of the desert, a Chilean research team has now found that MES is "much drier" than Yungay.
The UK-based payment processing giant Worldpay has partnered with IndusInd Bank to offer acquiring services in India.
The association will assist both the companies in processing customers’ payments and marks the first step for Worldpay in entering the Indian market — a result of the growth in eCommerce across the country, IndusInd Bank said in a filing to the BSE. “We are delighted to offer eCommerce acquiring services in India in association with Worldpay. We are confident that the association will help both organisations to contribute to the growth of the growing Indian eCommerce industry,” IndusInd Bank, Head of Transaction Banking, Ramesh Ganesan, said.
This partnership will allow each company to benefit from the other’s respective expertise in domestic and international payments, thereby, helping in promoting online payment services in India, he added. Worldpay, Deputy Chairman, Ron Kalifa said: “India’s increase in card use has meant that more of our customers are looking to expand operations in the country.”
2. HDFC Bank launched HDFC Bank Apollo Medical Benefits Card
HDFC Bank in partnership with Apollo Hospitals launched HDFC Bank Apollo Medical Benefits Card, a co-branded medical benefits card which allows corporates to disburse medical allowances to their employees and has insurance cover for accidents.The bank claimed that this is the first-of-its kind product in the country. The corporates can load the specified allowance onto the card every month which can be used by employees for medical expenditure at pan-India VISA/MasterCard outlets.
Highlights of this pre-paid medical card
The card comes with a free accidental death insurance of 3 lakh rupees.
It provides for free accidental death insurance and accident hospitalisation insurance apart from discounts at Apollo network including Apollo Hospitals, Apollo Pharmacies, Apollo Clinics and Apollo White Dental across India.
It offers access to additional benefits such as discounts and facilities, including free ambulance services.
3. Joe Root and Charlotte Edwards named England cricketers of the year 2014-15
Joe Root and Charlotte Edwards were named as England men’s and women’s cricketers of the year 2014-15 respectively.
Root who was recently appointed vice-captain of England's Test team was named as the cricketer of the year for scoring 1135 test runs at an average of 95 including four scores of 149 and above. His top test score of the season was of 200 not out against Sri Lanka at Lord’s. He also made three one-day international centuries.
Charlotte Edwards, the women’s captain won the award for consecutive second year. She was chosen for averaging above 75 in ODIs and nearly 60 in Twenty20 internationals in the season. Under her leadership, England secured ODI series victories against India and New Zealand, alongside T20 series wins against South Africa and New Zealand.
She was also presented the silver England cap by the England and Wales Cricket Board to celebrate her 200th match as women’s captain against New Zealand in February 2015.
Other awards announced were
• England development programme cricketer of the year award: Saqib Mahmood, the Under-19s right-arm seamer of Lancashire and England
• England disability cricketer of the year award: Luke Sugg from the England visually impaired team
4. JICA agreed to lend 1165 crore rupees for Odisha Transmission System Improvement Project
India and the Japan International Cooperation Agency (JICA) signed an ODA (Official Development Assistance) loan agreement to provide up to 21787 million yen (about 1165 crore rupees) for the Odisha Transmission System Improvement Project (OTSIP).
The agreement was signed by Joint Secretary in the Union Ministry of Finance S Selvakumar and JICA India Office Chief Representative Shinya Ejima in New Delhi.
The purpose of the loan is to assist in establishing a stable power supply to the state in advance of an expected large increase in power demand in the coming years due to rapid industrialization.
Features of ODA to OTSIP
• Transmission lines extending around 971 kilometers and 18 substations will be constructed to improve the power transmission efficiency and stabilize the power supply.
• Technologies like low-loss conductors and outdoor Gas Insulated Substations (GIS) will be established for some of the transmission lines and substations respectively for the first time in the state.
• The Odisha Power Transmission Corporation Limited will be the nodal agency to execute the project.
• The JICA will charge 0.8 percent per annum interest rate and the loan repayment period is 20 years in addition a 6 years grace period.
• The project will be completed by January 2020.
JICA has extended about 3400 crore rupees in ODA loans since 1981 for all-round development in Odisha.
It has also provided for loans up to 65260 crore rupees in ODA loans since 1958 for enhancement of power generation and transmission infrastructure in India.
5. Fourth Corvette of Project-28 christened Kavaratti launched
The fourth Anti Submarine Warfare (ASW) Corvette of Project-28 christened Kavaratti was launched at Garden Reach Shipbuilders and Engineers Ltd (GRSE), Kolkata.
In keeping with the nautical traditions, the ship was launched by Manita Singh, wife of the Hon’ble Union Minister of State for Defence Rao Inderjit Singh.
The four ships of Project-28 built by GRSE, Kolkata have been designed indigenously by the Directorate of Naval Design, New Delhi and bear the testimony to the acclaimed legacy of Naval Designers. The ships have been constructed using high grade steel (DMR 249A) produced in India.
Key Characteristics of ASW Corvettes
With a displacement of 3300 tonnes, the sleek and magnificent ASW Corvettes span 109.1 meters in length and 13.7 meters at the beam. They are propelled by four diesel engines to achieve speeds in excess of 25 knots and have an endurance of more than 3000 Nm.
The P-28 corvettes also boast of revolutionary Rail-less Helo Traversing System, Foldable Hangar Door, use of Personnel Locator System and use of Carbon Fibre Reinforced Plastic (CFRP) Superstructure integrated with the Steel Hull in the third and fourth ships of the Class.
These ships have common raft mounted Gear Box and Diesel Engines, which give the vessels very low radiated underwater noise.The P-28 Ships also have Total Atmospheric Control System (TACS) and an Integrated Platform Management System (IPMS) which include Integrated Bridge System as well as Battle Damage Control System.
They also incorporate new design concepts for improved survivability, sea keeping, stealth and manoeuvrability. Enhanced stealth features of the corvettes have been achieved by including Low Radar Cross Section (RCS) signature through full beam superstructure, inclined ship sides and reduced Infra Red (IR) signature by use of Infra Red Suppression System (IRSS) device.
The ships are also equipped to carry and operate one multiple role helicopter.
6. Delhi Government decided to launch Pay & Play Scheme to promote sports
The state government of Delhi decided to launch Pay & Play Scheme at the designated stadiums or sports complexes. The scheme is planned to promote sports for all age groups in the national capital.
The scheme would begin from 1 July 2015 in the morning session from 6 am to 9.30 am. The facilities would be free of cost for school students and disabled person
Under the scheme, people can play game available within the stadiums and complexes by paying a nominal fee of 100 rupees per month.
For this purpose, the state government has ordered opening up of several stadiums and sports complexes. It has also decided that academies or clubs or individuals will have access to government schools for sports promotion.
At present, the membership for sports facilities is available in Thyagraj Stadium, Ludlow Castle Sports Complex and Chhatrasal Stadium.
7. GMR Infra signed MoU with GIIC for developing Kakinada SEZ
GMR Infrastructure Ltd signed a Memorandum of understanding (MoU) with Guizhou International Investment Corporation (GIIC) for developing Kakinada Special Economic Zone (KSEZ) in Andhra Pradesh.
The MoU was signed by Challa Prasanna, President of Kakinada SEZ (KSEZ) Pvt Ltd. It seeks to set up industrial park for Chinese high-end equipment manufacturing companies in Kakinada SEZ (KSEZ).
In this regard, GIIC plans to set up 2000 acres industrial park. The fully developed facility by KSEZ and GIIC will in turn generate over 5000 jobs for both skilled and unskilled workers.
For developing the infrastructure and various facilities of the industrial park, GIIC will invest 500 million US dollars. In addition, Chinese companies setting up units at the park will invest 2-3 billion US dollars on their operations for over five years.
About Kakinada Special Economic Zone
• The Kakinada Special Economic Zone (KSEZ) is a port based Multi Product Special Economic Zone, spread over approximately 10500 acres.
• Situated strategically on the Eastern Coast in an area rich in oil and natural gas deposits, this zone has an excellent logistical linkages to National Highways, Railway networks, Air and Sea Ports.
• This SEZ caters to the existing process industries and emerging industries like Refinery, Renewable Energy, Ship Building, Biotech, Nanotech, IT/ITES, Toys, Games and Sports Goods manufacturing Park, etc.
8. Infosys announced to become carbon neutral by 2018
Infosys announced to become carbon neutral by 2018. For this it earmarked an amount of 400 crore rupees. The company announced to achieve carbon-neutrality on commuting and travel by its nearly 1.8 lakh employees and in doing so deepens its commitment to sustainability.
The company will offset 3.74 lakh tonne of carbon dioxide attributed to employees' travel, and it will spend 70 crore rupees in 2015 on initiatives such as installing solar projects for rural electrification, biogas plants and distribution of smokeless cook-stoves in villages, besides afforestation.
As part of its journey toward sustainability, Infosys will commission 55 MW of solar capacity, including 40 MW in Karnataka, in 2016. It will add another 110 MW of solar capacity in the coming years. It is already generating energy from 2.7 MW capacity solar panels on rooftops across its campuses in India.
Infosys consumed 257 million units of electricity globally during 2014-15, and 30 per cent of this came from renewable energy sources.
9. SBI ties up with Amazon
Amid a wave of e-commerce and surge in online payments, State Bank of India has partnered with global e-commerce firm Amazon to service its customers and small businesses.
"SBI and Amazon will develop trusted, frictionless payments and commerce solutions for customers and small businesses, capitalising on the exponential growth in internet penetration to drive the adoption of ecommerce and m-commerce in India," SBI said in a statement.
"We are working on ways to enrich customers' patent experience and opening up windows of e-commerce to our SME customers...We have a great opportunity to work tofwter to transform how India shops and sells," said Arundhati Bhattacharya, Chairman of SBI.
10. IDBI Bank to launch e-huts for services in rural areas
IDBI Bank is set to expand its branch network to 2,000 by the end of the current year from 1,740 now, besides rolling out e-huts to provide services to people in rural areas.
Addressing a press conference, Deputy Managing Director of IDBI Bank Melwyn Rego said the bank has introduced e-lobbies, which are next to branches, across the country.
E-hut is a western concept and is set up at relatively populated areas, such as malls.
Rego, who was in Goa to inaugurate two branches, was accompanied by Chief General Manager Pradip Kumar Das and Regional Head Shashank Dixit. The bank has 3,100 ATMs across the country.
Rego said the bank focuses on retail banking, predominantly financing housing, automobile, education and medium, small and micro enterprises (MSMEs). It is slowly shifting focus to the corporate sector.
Business growth
IDBI Bank has registered 22 per cent growth in CASA (Current Account, Savings Account) business as against the industry growth of 12-13 per cent, he added.
Though Rego declined to go into details of profitability and NPAs ahead of its Board meeting, he said the economic cycle is down at this juncture, even as expectations are quite high for the near future.
11. Plans to launch ‘DD Kisan’ on Modi govt’s 1st anniversary
As it plans a series of events to mark its first year in office on May 26, the government is considering to launch ‘DD Kisan’, a 24—hour channel for farmers, on the occasion.
Sources said the move was under “active consideration” of the Ministry of Information and Broadcasting and Prasar Bharati but added that a final decision was yet to be taken.
“The preparations for the launch of the DD Kisan channels are at a very advanced stage. There is a suggestion that it can be launched as the government marks its first year,” a senior official said.
The source, however, said that a final decision will only be taken in consultation with the Prime Minister’s Office. After it came to power, the NDA government had announced that it will launch a 24—hour TV channel for farmers.
In his Union Budget 2014 speech, Finance Minister Arun Jaitley, who now also holds the charge of the I&B ministry, had announced that a 24—hour TV channel will be dedicated to the agriculture sector, for which he had marked an outlay of Rs. 100 crore.
Preparations for the launch of this “niche edu—tainment” channel have been on full—swing. The public broadcaster has been exploring tie—ups with several experts’ bodies such as Indian Meteorological Department, National Commodity and Derivatives Exchange, Indian Agriculture Research Institute to produce programmes which provide accurate information for farmers.
12. Shivani Agarwal and Maharaja Pandit selected for prestigious Radcliffe Fellowship by Harvard University
Two Indians from Indian Institute of Science, and University of Delhi have been named for Harvard University's prestigious Radcliffe fellowship.
Shivani Agarwal from Indian Institute of Science and Maharaja Pandit from University of Delhi are among 50 scholars, scientists, and artists who will begin their one-year fellowships along with 48 at the Radcliffe Institute in September 2015, a media release said
Considered as one of the most prestigious honors for faculty, only three per cent of applicants were accepted this year.
Shivani, William and Flora Hewlett Foundation Fellow has been selected for learning to make choices in the era of big data.
Mr Pandit has been selected for his project life in Himalaya.
"It is an honor to provide these innovative thinkers with time, space, and intellectual stimulation to do their best work in ways that often defy expectations and disciplinary boundaries," said Radcliffe Institute Dean Lizabeth Cohen.
13.Maria Elena South, driest place on earth discovered in Atacama Desert, Chile
Researchers have discovered the driest location on Earth in the Atacama Desert in Chile - and they were surprised to find some bacteria living there, according to NASA's Astrobiology magazine. The site is reported to be as dry as Mars.
The site is called Maria Elena South (MES). Armando Azua-Bustos, an environmental biologist and research scientist at the Blue Marble Space Institute of Science in Seattle, says the team discovered that MES has a mean atmospheric relative humidity (RH) of 17.3 percent and a soil RH of a constant 14 percent at a depth of one meter. This soil value matches the lowest RH measurements taken by the Mars Science Laboratory at Gale Crater on Mars, establishing the fact that conditions at the site are as dry as those found recently on the Martian surface.
This discovery has toppled the Yungay region as the driest area of the hyper-arid Atacama desert, with conditions close to the so-called "dry limit" for life on Earth. Several academic papers have been published reporting on the extraordinary characteristics of the Yungay site and its relevance to astrobiologists as an analogue of conditions on Mars. However, following a more systematic search of the desert, a Chilean research team has now found that MES is "much drier" than Yungay.
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