1. Achal Kumar Jyoti appointed as Election Commissioner
Achal Kumar Jyoti, the former Chief Secretary of Gujarat, was appointed as the Election Commissioner of India. Jyoti (62) will have tenure of nearly three-years, when he will turn 65, the age at which Election Commissioners demit office under the Constitution of India. His tenure will commence from the day he assumes the charge.
With this, the strength of three-member Election Commission of India has gone up to two. Till this appointment, two posts were vacant in the three-member election commission due to retirement of VS Sampath and HS Brahma. At present, Nasim Zaidi, the Chief Election Commissioner (CEC), is the other member of election commission.
2. SBI launched RuPay Platinum Debit Card in association with NPCI
State Bank of India launched State Bank RuPay Platinum debit card in association with National Payment Corporation of India (NPCI).
Initially, the card will be issued free to customers maintaining a quarterly balance of 50000 rupees. The RuPay card is accepted at all payment channels like ATMs, PoS and eCommerce.
The State Bank RuPay Platinum Debit Card, targets the affluent segment by offering a range of value added benefits including:
• 5 percent cashback on utility bill payments
• Up to 1 percent fuel surcharge waiver
• Complimentary airport lounge access
• Complimentary concierge services
• Complimentary welcome discount vouchers
• Personal accidental death and permanent total disability insurance cover of 2 lakh rupees
At present, SBI has 19.7 crore debit cards in circulation of which 4.5 crore are RuPay cards.
Besides, the NPCI Managing Director and CEO A P Hota announced that the company will soon launch international RuPay debit cards which will allow customers to use them outside the country. It will also issue RuPay credit cards by January 2016.
• SBI chairman - Arundhati Bhattacharya
About NPCI
National Payments Corporation of India (NPCI) was set up in 2009 as the central infrastructure for various retail payment systems in India. It was envisaged by the Reserve Bank of India as the payment utility for all banks in the country
3. YES Bank ties up with Payworld to distribute prepaid cards
Mid-sized private lender YES Bank has tied up with Payworld to distribute co-branded open loop prepaid cards to customers.
“Payworld will be distributing the Yes Money Prepaid Cards through its Business Correspondent Agent Network in partnership with Yes Bank,” Payworld said in a statement. Open Loop Prepaid Cards can be used at POS (point-of-sale) terminals, eCommerce sites for payments, as well as to withdraw money at ATMs. Strategically, customers who remit money to their families, can now also safeguard their remaining cash through this prepaid card, which is PIN protected. The programme also offers a Rs. 1 lakh personal accident insurance and has seen a good response during the test phase, the statement added.
Praveen Dhabhai, COO of Payworld, said: “We plan to distribute over 5 lakh cards during the next 12 months, of which 10,000 cards have already been distributed. This prepaid card is safe since it is PIN protected and carries no risk for the customer. Cash is loaded on the card at all our Business Correspondent Agent outlets.”
4. Singapore PM Lee opened first museum Indian Heritage Centre in Little India
Singapore PM Lee Hsien Loong opened first museum Indian Heritage Centre in Little India.The museum was dedicated to Indian history. Singapore is celebrating 50 years of its independence in 2015 as well as 50 years of diplomatic relations with India.
The Government of India has presented busts of four nationalist leaders to Singapore's Indian Heritage Centre (IHC). IHC is now open to the public.
The nationalist leaders' busts - including of Mahatama Gandhi, Rabindranath Tagore, Pandit Jawarhalal Nehru and Netaji Subash Chandra Bose - are displayed in IHC's gallery on Social and Political Awakening in Singapor.
The IHC is built at a cost of 16 million Singapore dollars and managed by the country's National Heritage Board.
The four-storey building is located in the heart of Little India, and blends traditional Indian and modern architectural elements.
Its thematic galleries showcase diverse stories of various groups within Singapore's Indian community and their rich links with the global Indian diaspora.
5. Myntra.com acquired startup firm Native5 Software Solutions Pvt Ltd
Online fashion retailer Myntra.com acquired Bengaluru-based startup firm Native5 Software Solutions Pvt Ltd for an undisclosed sum. With this acquisition, founders of Native 5 will join Flipkart, parent company of Myntra. From now onwards, Native5 team will work on Myntra’s mobile only strategy and will help its mobile apps to grow.
About Native5 Software Solutions Pvt Ltd
Founded in 2011 by technology professionals Manish Priyadarshi, Barada Sahu and Shamik Datta, Native5 has developed a cloud platform to create and distribute mobile apps across smart phones, tablets and desktops. Native5 was incubated at Microsoft Accelerator in 2013. In the same year, it was also the part of Nasscom 10000 Startups.
6. Nepal Rastra Bank to provide interest-free loans for rebuilding houses
Nepal Rastra Bank announced to provide interest-free loans for rebuilding houses. The bank will provide interest-free loans of up to 25 lakh nepali rupees in the Kathmandu Valley and 15 lakh nepali rupees for those outside the capital for house reconstruction.Nepal Rastra Bank is the regulatory authority of the Nepalese economy.
The central bank also said the commercial banks and financial institutions could take a maximum interest of 2 per cent under home loan for such purposes.
Meanwhile, Nepal’s Parliament unanimously passed a resolution committing to work together in the reconstruction work in the aftermath of the earthquake that devastated central and eastern hilly parts of Nepal.
The earthquake on 25 April 2015 and another one the following day of 7.9 and 6.7 magnitude have claimed 7765 lives and have left over 16000 injured.
It is the central bank of Nepal. It supervises the banks and financial institutions in Nepal and guides monetary policy. Nepal Rastra Bank also oversees foreign exchange rates and the country's foreign exchange reserves and regulates the foreign exchange policy.
7. Union Government, ADB signed loan agreement worth 31 Million US dollars
The Union Government and Asian Development Bank (ADB) signed a 31 million US dollars loan agreement to boost water availability in selected river basins in Karnataka and ensure improved water efficiency in irrigation.The agreement was signed by Raj Kumar, Joint Secretary (Multilateral Institutions), Department of Economic Affairs on behalf of the Union Government and M Teresa Kho, Country Director of ADB in India.
ADB’s loan of 31 million US dollars will cover about 65 percent of the total project cost of 48 million US dollars with the state government of Karnataka providing the balance of 17 million US dollars. The loan is the first tranche of the Karnataka Integrated and Sustainable Water Resources Management Investment Program of 150 million US dollars, approved by ADB in 2014. The program will improve irrigation efficiency in three river basins in the state saving 1700 million cubic meters of water.
This saved water could be used on an additional 160000 hectares of farmland which will further lead to increase in farm incomes by about 50 percent and benefit about 1.5 million people.
Besides, the loan will help train and certify over 200 Water Resources Department (WRD) staff in integrated water resources management and build capacities of water users cooperative societies. Through this project, Advanced Centre for IWRM (AC-IWRM) will be developed into a sub-regional accredited institute to provide certification in the field of IWRM.
8. High Court of Gujarat ordered shutting down of 67 sand mines in Gir Forest Sanctuary
High Court of Gujarat ordered shutting down of 67 sand mining units in the Gir Forest Sanctuary, the only adobe of Asiatic lions. These 67 mining units were ordered to stop operation as their leases were not renewed.
The order was passed by a two-judge bench of High Court comprising Justice Jayant Patel and Justice GB Shah on a public interest litigation (PIL) filed by a Surat city-based citizen Rajkumar Sutaria. The petitioner alleged that illegal mining in the area threatened the lives of the wild animals like Asiatic lions, bears, hyneas and golden jackals.
9. A paleo channel claimed as River Saraswati identified in Muglawali village of Haryana
Muglawali village of Yamungar district in Harayana located near Adi Badri was in news . The village came into news after district authorities claimed that they have dugged out a paleo (old) channel which resembles now inactive River Saraswati.During digging, which was done under Mahatma Gandhi National Rural Employment Guarantee Scheme (MNGEGS), the water was discovered from nine spots.
Water found at various spots hints towards presence of a paleo channel (remnants of inactive river) and the initial study of water and sediments by a geologist hints that they are distinct from the locally available water and minerals.
It is widely believed by geologists that Saraswati used to flow from upper Himalayas and entered the plains near Adi Badri, located in the foothills of lower Shivalik mountain ranges.
Digging is being done as part of excavation work of Saraswati Revival Project that started at Rullaheri village on 21 April 2015. The project was started after the decision of Haryana Chief Minister Manohar Lal Khattar to create a new water channel on the dry bed.
10. Lok Sabha passed Repealing and Amending Bill, 2015
Lok Sabha gave its nod for the Repealing and Amending Bill, 2015 which seeks to repeal 36 archaic laws either partially or entirely as they have ceased to be in force or have become obsolete. With this, the bill has been passed by both the houses of Parliament as Rajya Sabha passed the bill on 5 May 2015. Out of the 36 acts, four acts will be repealed entirely. These include The Indian Fisheries Act, 1897, The Foreign Jurisdiction Act, 1947 and The Sugar Undertakings (Taking over of Management) Act, 1978.
The remaining 32 Acts that are being repealed are amendments to principal Acts. These include amendments to the Representation of the People Act, 1951, Hindu Marriage Act, 1955, Anand Marriage Act, 1909 the Indian Evidence Act, 1872 among others.
A similar bill, the Repealing and Amending (Second) Bill, 2014 was passed by the Lok Sabha on 8 December 2014 and is lying with the Rajya Sabha. It is sought to repeal 90 laws and pass amendments to two laws. Out of 90 laws, 88 laws will be repealed completely.
11. Eminent historian Amalendu Guha passed away
Eminent historian and social scientist Amalendu Guha passed away following old age ailments at Ulubari, Guwahati. He was 91.Born on 30 January 1924 in Imphal, Guha was an eminent writer, poet, historian, social scientist and Communist thinker. He wrote in English, Assamese and Bengali languages.
His research work Planter Raj to Swaraj: Freedom Struggle and Electoral Politics in Assam is considered as greatest among his creations. His other books are Medieval and Early Colonial Assam: Society, Polity and Economy and Central Asia: Movement of Peoples and Ideas from Times Prehistoric to Modern.
Achal Kumar Jyoti, the former Chief Secretary of Gujarat, was appointed as the Election Commissioner of India. Jyoti (62) will have tenure of nearly three-years, when he will turn 65, the age at which Election Commissioners demit office under the Constitution of India. His tenure will commence from the day he assumes the charge.With this, the strength of three-member Election Commission of India has gone up to two. Till this appointment, two posts were vacant in the three-member election commission due to retirement of VS Sampath and HS Brahma. At present, Nasim Zaidi, the Chief Election Commissioner (CEC), is the other member of election commission.
2. SBI launched RuPay Platinum Debit Card in association with NPCI
State Bank of India launched State Bank RuPay Platinum debit card in association with National Payment Corporation of India (NPCI).
Initially, the card will be issued free to customers maintaining a quarterly balance of 50000 rupees. The RuPay card is accepted at all payment channels like ATMs, PoS and eCommerce.
The State Bank RuPay Platinum Debit Card, targets the affluent segment by offering a range of value added benefits including:
• 5 percent cashback on utility bill payments
• Up to 1 percent fuel surcharge waiver
• Complimentary airport lounge access
• Complimentary concierge services
• Complimentary welcome discount vouchers
• Personal accidental death and permanent total disability insurance cover of 2 lakh rupees
At present, SBI has 19.7 crore debit cards in circulation of which 4.5 crore are RuPay cards.
Besides, the NPCI Managing Director and CEO A P Hota announced that the company will soon launch international RuPay debit cards which will allow customers to use them outside the country. It will also issue RuPay credit cards by January 2016.
• SBI chairman - Arundhati Bhattacharya
About NPCI
National Payments Corporation of India (NPCI) was set up in 2009 as the central infrastructure for various retail payment systems in India. It was envisaged by the Reserve Bank of India as the payment utility for all banks in the country
3. YES Bank ties up with Payworld to distribute prepaid cards
Mid-sized private lender YES Bank has tied up with Payworld to distribute co-branded open loop prepaid cards to customers.
“Payworld will be distributing the Yes Money Prepaid Cards through its Business Correspondent Agent Network in partnership with Yes Bank,” Payworld said in a statement. Open Loop Prepaid Cards can be used at POS (point-of-sale) terminals, eCommerce sites for payments, as well as to withdraw money at ATMs. Strategically, customers who remit money to their families, can now also safeguard their remaining cash through this prepaid card, which is PIN protected. The programme also offers a Rs. 1 lakh personal accident insurance and has seen a good response during the test phase, the statement added.
Praveen Dhabhai, COO of Payworld, said: “We plan to distribute over 5 lakh cards during the next 12 months, of which 10,000 cards have already been distributed. This prepaid card is safe since it is PIN protected and carries no risk for the customer. Cash is loaded on the card at all our Business Correspondent Agent outlets.”
4. Singapore PM Lee opened first museum Indian Heritage Centre in Little India
Singapore PM Lee Hsien Loong opened first museum Indian Heritage Centre in Little India.The museum was dedicated to Indian history. Singapore is celebrating 50 years of its independence in 2015 as well as 50 years of diplomatic relations with India.
The Government of India has presented busts of four nationalist leaders to Singapore's Indian Heritage Centre (IHC). IHC is now open to the public.
The nationalist leaders' busts - including of Mahatama Gandhi, Rabindranath Tagore, Pandit Jawarhalal Nehru and Netaji Subash Chandra Bose - are displayed in IHC's gallery on Social and Political Awakening in Singapor.
The IHC is built at a cost of 16 million Singapore dollars and managed by the country's National Heritage Board.
The four-storey building is located in the heart of Little India, and blends traditional Indian and modern architectural elements.
Its thematic galleries showcase diverse stories of various groups within Singapore's Indian community and their rich links with the global Indian diaspora.
5. Myntra.com acquired startup firm Native5 Software Solutions Pvt Ltd
Online fashion retailer Myntra.com acquired Bengaluru-based startup firm Native5 Software Solutions Pvt Ltd for an undisclosed sum. With this acquisition, founders of Native 5 will join Flipkart, parent company of Myntra. From now onwards, Native5 team will work on Myntra’s mobile only strategy and will help its mobile apps to grow.
About Native5 Software Solutions Pvt Ltd
Founded in 2011 by technology professionals Manish Priyadarshi, Barada Sahu and Shamik Datta, Native5 has developed a cloud platform to create and distribute mobile apps across smart phones, tablets and desktops. Native5 was incubated at Microsoft Accelerator in 2013. In the same year, it was also the part of Nasscom 10000 Startups.
6. Nepal Rastra Bank to provide interest-free loans for rebuilding houses
Nepal Rastra Bank announced to provide interest-free loans for rebuilding houses. The bank will provide interest-free loans of up to 25 lakh nepali rupees in the Kathmandu Valley and 15 lakh nepali rupees for those outside the capital for house reconstruction.Nepal Rastra Bank is the regulatory authority of the Nepalese economy.
The central bank also said the commercial banks and financial institutions could take a maximum interest of 2 per cent under home loan for such purposes.
Meanwhile, Nepal’s Parliament unanimously passed a resolution committing to work together in the reconstruction work in the aftermath of the earthquake that devastated central and eastern hilly parts of Nepal.
The earthquake on 25 April 2015 and another one the following day of 7.9 and 6.7 magnitude have claimed 7765 lives and have left over 16000 injured.
It is the central bank of Nepal. It supervises the banks and financial institutions in Nepal and guides monetary policy. Nepal Rastra Bank also oversees foreign exchange rates and the country's foreign exchange reserves and regulates the foreign exchange policy.
7. Union Government, ADB signed loan agreement worth 31 Million US dollars
The Union Government and Asian Development Bank (ADB) signed a 31 million US dollars loan agreement to boost water availability in selected river basins in Karnataka and ensure improved water efficiency in irrigation.The agreement was signed by Raj Kumar, Joint Secretary (Multilateral Institutions), Department of Economic Affairs on behalf of the Union Government and M Teresa Kho, Country Director of ADB in India.
ADB’s loan of 31 million US dollars will cover about 65 percent of the total project cost of 48 million US dollars with the state government of Karnataka providing the balance of 17 million US dollars. The loan is the first tranche of the Karnataka Integrated and Sustainable Water Resources Management Investment Program of 150 million US dollars, approved by ADB in 2014. The program will improve irrigation efficiency in three river basins in the state saving 1700 million cubic meters of water.
This saved water could be used on an additional 160000 hectares of farmland which will further lead to increase in farm incomes by about 50 percent and benefit about 1.5 million people.
Besides, the loan will help train and certify over 200 Water Resources Department (WRD) staff in integrated water resources management and build capacities of water users cooperative societies. Through this project, Advanced Centre for IWRM (AC-IWRM) will be developed into a sub-regional accredited institute to provide certification in the field of IWRM.
8. High Court of Gujarat ordered shutting down of 67 sand mines in Gir Forest Sanctuary
High Court of Gujarat ordered shutting down of 67 sand mining units in the Gir Forest Sanctuary, the only adobe of Asiatic lions. These 67 mining units were ordered to stop operation as their leases were not renewed.
The order was passed by a two-judge bench of High Court comprising Justice Jayant Patel and Justice GB Shah on a public interest litigation (PIL) filed by a Surat city-based citizen Rajkumar Sutaria. The petitioner alleged that illegal mining in the area threatened the lives of the wild animals like Asiatic lions, bears, hyneas and golden jackals.
9. A paleo channel claimed as River Saraswati identified in Muglawali village of Haryana
Muglawali village of Yamungar district in Harayana located near Adi Badri was in news . The village came into news after district authorities claimed that they have dugged out a paleo (old) channel which resembles now inactive River Saraswati.During digging, which was done under Mahatma Gandhi National Rural Employment Guarantee Scheme (MNGEGS), the water was discovered from nine spots.
Water found at various spots hints towards presence of a paleo channel (remnants of inactive river) and the initial study of water and sediments by a geologist hints that they are distinct from the locally available water and minerals.
It is widely believed by geologists that Saraswati used to flow from upper Himalayas and entered the plains near Adi Badri, located in the foothills of lower Shivalik mountain ranges.
Digging is being done as part of excavation work of Saraswati Revival Project that started at Rullaheri village on 21 April 2015. The project was started after the decision of Haryana Chief Minister Manohar Lal Khattar to create a new water channel on the dry bed.
10. Lok Sabha passed Repealing and Amending Bill, 2015
Lok Sabha gave its nod for the Repealing and Amending Bill, 2015 which seeks to repeal 36 archaic laws either partially or entirely as they have ceased to be in force or have become obsolete. With this, the bill has been passed by both the houses of Parliament as Rajya Sabha passed the bill on 5 May 2015. Out of the 36 acts, four acts will be repealed entirely. These include The Indian Fisheries Act, 1897, The Foreign Jurisdiction Act, 1947 and The Sugar Undertakings (Taking over of Management) Act, 1978.
The remaining 32 Acts that are being repealed are amendments to principal Acts. These include amendments to the Representation of the People Act, 1951, Hindu Marriage Act, 1955, Anand Marriage Act, 1909 the Indian Evidence Act, 1872 among others.
A similar bill, the Repealing and Amending (Second) Bill, 2014 was passed by the Lok Sabha on 8 December 2014 and is lying with the Rajya Sabha. It is sought to repeal 90 laws and pass amendments to two laws. Out of 90 laws, 88 laws will be repealed completely.
11. Eminent historian Amalendu Guha passed away
Eminent historian and social scientist Amalendu Guha passed away following old age ailments at Ulubari, Guwahati. He was 91.Born on 30 January 1924 in Imphal, Guha was an eminent writer, poet, historian, social scientist and Communist thinker. He wrote in English, Assamese and Bengali languages.
His research work Planter Raj to Swaraj: Freedom Struggle and Electoral Politics in Assam is considered as greatest among his creations. His other books are Medieval and Early Colonial Assam: Society, Polity and Economy and Central Asia: Movement of Peoples and Ideas from Times Prehistoric to Modern.
1. Achal Kumar Jyoti appointed as Election Commissioner
Achal Kumar Jyoti, the former Chief Secretary of Gujarat, was appointed as the Election Commissioner of India. Jyoti (62) will have tenure of nearly three-years, when he will turn 65, the age at which Election Commissioners demit office under the Constitution of India. His tenure will commence from the day he assumes the charge.
With this, the strength of three-member Election Commission of India has gone up to two. Till this appointment, two posts were vacant in the three-member election commission due to retirement of VS Sampath and HS Brahma. At present, Nasim Zaidi, the Chief Election Commissioner (CEC), is the other member of election commission.
2. SBI launched RuPay Platinum Debit Card in association with NPCI
State Bank of India launched State Bank RuPay Platinum debit card in association with National Payment Corporation of India (NPCI).
Initially, the card will be issued free to customers maintaining a quarterly balance of 50000 rupees. The RuPay card is accepted at all payment channels like ATMs, PoS and eCommerce.
The State Bank RuPay Platinum Debit Card, targets the affluent segment by offering a range of value added benefits including:
• 5 percent cashback on utility bill payments
• Up to 1 percent fuel surcharge waiver
• Complimentary airport lounge access
• Complimentary concierge services
• Complimentary welcome discount vouchers
• Personal accidental death and permanent total disability insurance cover of 2 lakh rupees
At present, SBI has 19.7 crore debit cards in circulation of which 4.5 crore are RuPay cards.
Besides, the NPCI Managing Director and CEO A P Hota announced that the company will soon launch international RuPay debit cards which will allow customers to use them outside the country. It will also issue RuPay credit cards by January 2016.
• SBI chairman - Arundhati Bhattacharya
About NPCI
National Payments Corporation of India (NPCI) was set up in 2009 as the central infrastructure for various retail payment systems in India. It was envisaged by the Reserve Bank of India as the payment utility for all banks in the country
3. YES Bank ties up with Payworld to distribute prepaid cards
Mid-sized private lender YES Bank has tied up with Payworld to distribute co-branded open loop prepaid cards to customers.
“Payworld will be distributing the Yes Money Prepaid Cards through its Business Correspondent Agent Network in partnership with Yes Bank,” Payworld said in a statement. Open Loop Prepaid Cards can be used at POS (point-of-sale) terminals, eCommerce sites for payments, as well as to withdraw money at ATMs. Strategically, customers who remit money to their families, can now also safeguard their remaining cash through this prepaid card, which is PIN protected. The programme also offers a Rs. 1 lakh personal accident insurance and has seen a good response during the test phase, the statement added.
Praveen Dhabhai, COO of Payworld, said: “We plan to distribute over 5 lakh cards during the next 12 months, of which 10,000 cards have already been distributed. This prepaid card is safe since it is PIN protected and carries no risk for the customer. Cash is loaded on the card at all our Business Correspondent Agent outlets.”
4. Singapore PM Lee opened first museum Indian Heritage Centre in Little India
Singapore PM Lee Hsien Loong opened first museum Indian Heritage Centre in Little India.The museum was dedicated to Indian history. Singapore is celebrating 50 years of its independence in 2015 as well as 50 years of diplomatic relations with India.
The Government of India has presented busts of four nationalist leaders to Singapore's Indian Heritage Centre (IHC). IHC is now open to the public.
The nationalist leaders' busts - including of Mahatama Gandhi, Rabindranath Tagore, Pandit Jawarhalal Nehru and Netaji Subash Chandra Bose - are displayed in IHC's gallery on Social and Political Awakening in Singapor.
The IHC is built at a cost of 16 million Singapore dollars and managed by the country's National Heritage Board.
The four-storey building is located in the heart of Little India, and blends traditional Indian and modern architectural elements.
Its thematic galleries showcase diverse stories of various groups within Singapore's Indian community and their rich links with the global Indian diaspora.
5. Myntra.com acquired startup firm Native5 Software Solutions Pvt Ltd
Online fashion retailer Myntra.com acquired Bengaluru-based startup firm Native5 Software Solutions Pvt Ltd for an undisclosed sum. With this acquisition, founders of Native 5 will join Flipkart, parent company of Myntra. From now onwards, Native5 team will work on Myntra’s mobile only strategy and will help its mobile apps to grow.
About Native5 Software Solutions Pvt Ltd
Founded in 2011 by technology professionals Manish Priyadarshi, Barada Sahu and Shamik Datta, Native5 has developed a cloud platform to create and distribute mobile apps across smart phones, tablets and desktops. Native5 was incubated at Microsoft Accelerator in 2013. In the same year, it was also the part of Nasscom 10000 Startups.
6. Nepal Rastra Bank to provide interest-free loans for rebuilding houses
Nepal Rastra Bank announced to provide interest-free loans for rebuilding houses. The bank will provide interest-free loans of up to 25 lakh nepali rupees in the Kathmandu Valley and 15 lakh nepali rupees for those outside the capital for house reconstruction.Nepal Rastra Bank is the regulatory authority of the Nepalese economy.
The central bank also said the commercial banks and financial institutions could take a maximum interest of 2 per cent under home loan for such purposes.
Meanwhile, Nepal’s Parliament unanimously passed a resolution committing to work together in the reconstruction work in the aftermath of the earthquake that devastated central and eastern hilly parts of Nepal.
The earthquake on 25 April 2015 and another one the following day of 7.9 and 6.7 magnitude have claimed 7765 lives and have left over 16000 injured.
It is the central bank of Nepal. It supervises the banks and financial institutions in Nepal and guides monetary policy. Nepal Rastra Bank also oversees foreign exchange rates and the country's foreign exchange reserves and regulates the foreign exchange policy.
7. Union Government, ADB signed loan agreement worth 31 Million US dollars
The Union Government and Asian Development Bank (ADB) signed a 31 million US dollars loan agreement to boost water availability in selected river basins in Karnataka and ensure improved water efficiency in irrigation.The agreement was signed by Raj Kumar, Joint Secretary (Multilateral Institutions), Department of Economic Affairs on behalf of the Union Government and M Teresa Kho, Country Director of ADB in India.
ADB’s loan of 31 million US dollars will cover about 65 percent of the total project cost of 48 million US dollars with the state government of Karnataka providing the balance of 17 million US dollars. The loan is the first tranche of the Karnataka Integrated and Sustainable Water Resources Management Investment Program of 150 million US dollars, approved by ADB in 2014. The program will improve irrigation efficiency in three river basins in the state saving 1700 million cubic meters of water.
This saved water could be used on an additional 160000 hectares of farmland which will further lead to increase in farm incomes by about 50 percent and benefit about 1.5 million people.
Besides, the loan will help train and certify over 200 Water Resources Department (WRD) staff in integrated water resources management and build capacities of water users cooperative societies. Through this project, Advanced Centre for IWRM (AC-IWRM) will be developed into a sub-regional accredited institute to provide certification in the field of IWRM.
8. High Court of Gujarat ordered shutting down of 67 sand mines in Gir Forest Sanctuary
High Court of Gujarat ordered shutting down of 67 sand mining units in the Gir Forest Sanctuary, the only adobe of Asiatic lions. These 67 mining units were ordered to stop operation as their leases were not renewed.
The order was passed by a two-judge bench of High Court comprising Justice Jayant Patel and Justice GB Shah on a public interest litigation (PIL) filed by a Surat city-based citizen Rajkumar Sutaria. The petitioner alleged that illegal mining in the area threatened the lives of the wild animals like Asiatic lions, bears, hyneas and golden jackals.
9. A paleo channel claimed as River Saraswati identified in Muglawali village of Haryana
Muglawali village of Yamungar district in Harayana located near Adi Badri was in news . The village came into news after district authorities claimed that they have dugged out a paleo (old) channel which resembles now inactive River Saraswati.During digging, which was done under Mahatma Gandhi National Rural Employment Guarantee Scheme (MNGEGS), the water was discovered from nine spots.
Water found at various spots hints towards presence of a paleo channel (remnants of inactive river) and the initial study of water and sediments by a geologist hints that they are distinct from the locally available water and minerals.
It is widely believed by geologists that Saraswati used to flow from upper Himalayas and entered the plains near Adi Badri, located in the foothills of lower Shivalik mountain ranges.
Digging is being done as part of excavation work of Saraswati Revival Project that started at Rullaheri village on 21 April 2015. The project was started after the decision of Haryana Chief Minister Manohar Lal Khattar to create a new water channel on the dry bed.
10. Lok Sabha passed Repealing and Amending Bill, 2015
Lok Sabha gave its nod for the Repealing and Amending Bill, 2015 which seeks to repeal 36 archaic laws either partially or entirely as they have ceased to be in force or have become obsolete. With this, the bill has been passed by both the houses of Parliament as Rajya Sabha passed the bill on 5 May 2015. Out of the 36 acts, four acts will be repealed entirely. These include The Indian Fisheries Act, 1897, The Foreign Jurisdiction Act, 1947 and The Sugar Undertakings (Taking over of Management) Act, 1978.
The remaining 32 Acts that are being repealed are amendments to principal Acts. These include amendments to the Representation of the People Act, 1951, Hindu Marriage Act, 1955, Anand Marriage Act, 1909 the Indian Evidence Act, 1872 among others.
A similar bill, the Repealing and Amending (Second) Bill, 2014 was passed by the Lok Sabha on 8 December 2014 and is lying with the Rajya Sabha. It is sought to repeal 90 laws and pass amendments to two laws. Out of 90 laws, 88 laws will be repealed completely.
11. Eminent historian Amalendu Guha passed away
Eminent historian and social scientist Amalendu Guha passed away following old age ailments at Ulubari, Guwahati. He was 91.Born on 30 January 1924 in Imphal, Guha was an eminent writer, poet, historian, social scientist and Communist thinker. He wrote in English, Assamese and Bengali languages.
His research work Planter Raj to Swaraj: Freedom Struggle and Electoral Politics in Assam is considered as greatest among his creations. His other books are Medieval and Early Colonial Assam: Society, Polity and Economy and Central Asia: Movement of Peoples and Ideas from Times Prehistoric to Modern.
Achal Kumar Jyoti, the former Chief Secretary of Gujarat, was appointed as the Election Commissioner of India. Jyoti (62) will have tenure of nearly three-years, when he will turn 65, the age at which Election Commissioners demit office under the Constitution of India. His tenure will commence from the day he assumes the charge.With this, the strength of three-member Election Commission of India has gone up to two. Till this appointment, two posts were vacant in the three-member election commission due to retirement of VS Sampath and HS Brahma. At present, Nasim Zaidi, the Chief Election Commissioner (CEC), is the other member of election commission.
2. SBI launched RuPay Platinum Debit Card in association with NPCI
State Bank of India launched State Bank RuPay Platinum debit card in association with National Payment Corporation of India (NPCI).
Initially, the card will be issued free to customers maintaining a quarterly balance of 50000 rupees. The RuPay card is accepted at all payment channels like ATMs, PoS and eCommerce.
The State Bank RuPay Platinum Debit Card, targets the affluent segment by offering a range of value added benefits including:
• 5 percent cashback on utility bill payments
• Up to 1 percent fuel surcharge waiver
• Complimentary airport lounge access
• Complimentary concierge services
• Complimentary welcome discount vouchers
• Personal accidental death and permanent total disability insurance cover of 2 lakh rupees
At present, SBI has 19.7 crore debit cards in circulation of which 4.5 crore are RuPay cards.
Besides, the NPCI Managing Director and CEO A P Hota announced that the company will soon launch international RuPay debit cards which will allow customers to use them outside the country. It will also issue RuPay credit cards by January 2016.
• SBI chairman - Arundhati Bhattacharya
About NPCI
National Payments Corporation of India (NPCI) was set up in 2009 as the central infrastructure for various retail payment systems in India. It was envisaged by the Reserve Bank of India as the payment utility for all banks in the country
3. YES Bank ties up with Payworld to distribute prepaid cards
Mid-sized private lender YES Bank has tied up with Payworld to distribute co-branded open loop prepaid cards to customers.
“Payworld will be distributing the Yes Money Prepaid Cards through its Business Correspondent Agent Network in partnership with Yes Bank,” Payworld said in a statement. Open Loop Prepaid Cards can be used at POS (point-of-sale) terminals, eCommerce sites for payments, as well as to withdraw money at ATMs. Strategically, customers who remit money to their families, can now also safeguard their remaining cash through this prepaid card, which is PIN protected. The programme also offers a Rs. 1 lakh personal accident insurance and has seen a good response during the test phase, the statement added.
Praveen Dhabhai, COO of Payworld, said: “We plan to distribute over 5 lakh cards during the next 12 months, of which 10,000 cards have already been distributed. This prepaid card is safe since it is PIN protected and carries no risk for the customer. Cash is loaded on the card at all our Business Correspondent Agent outlets.”
4. Singapore PM Lee opened first museum Indian Heritage Centre in Little India
Singapore PM Lee Hsien Loong opened first museum Indian Heritage Centre in Little India.The museum was dedicated to Indian history. Singapore is celebrating 50 years of its independence in 2015 as well as 50 years of diplomatic relations with India.
The Government of India has presented busts of four nationalist leaders to Singapore's Indian Heritage Centre (IHC). IHC is now open to the public.
The nationalist leaders' busts - including of Mahatama Gandhi, Rabindranath Tagore, Pandit Jawarhalal Nehru and Netaji Subash Chandra Bose - are displayed in IHC's gallery on Social and Political Awakening in Singapor.
The IHC is built at a cost of 16 million Singapore dollars and managed by the country's National Heritage Board.
The four-storey building is located in the heart of Little India, and blends traditional Indian and modern architectural elements.
Its thematic galleries showcase diverse stories of various groups within Singapore's Indian community and their rich links with the global Indian diaspora.
5. Myntra.com acquired startup firm Native5 Software Solutions Pvt Ltd
Online fashion retailer Myntra.com acquired Bengaluru-based startup firm Native5 Software Solutions Pvt Ltd for an undisclosed sum. With this acquisition, founders of Native 5 will join Flipkart, parent company of Myntra. From now onwards, Native5 team will work on Myntra’s mobile only strategy and will help its mobile apps to grow.
About Native5 Software Solutions Pvt Ltd
Founded in 2011 by technology professionals Manish Priyadarshi, Barada Sahu and Shamik Datta, Native5 has developed a cloud platform to create and distribute mobile apps across smart phones, tablets and desktops. Native5 was incubated at Microsoft Accelerator in 2013. In the same year, it was also the part of Nasscom 10000 Startups.
6. Nepal Rastra Bank to provide interest-free loans for rebuilding houses
Nepal Rastra Bank announced to provide interest-free loans for rebuilding houses. The bank will provide interest-free loans of up to 25 lakh nepali rupees in the Kathmandu Valley and 15 lakh nepali rupees for those outside the capital for house reconstruction.Nepal Rastra Bank is the regulatory authority of the Nepalese economy.
The central bank also said the commercial banks and financial institutions could take a maximum interest of 2 per cent under home loan for such purposes.
Meanwhile, Nepal’s Parliament unanimously passed a resolution committing to work together in the reconstruction work in the aftermath of the earthquake that devastated central and eastern hilly parts of Nepal.
The earthquake on 25 April 2015 and another one the following day of 7.9 and 6.7 magnitude have claimed 7765 lives and have left over 16000 injured.
It is the central bank of Nepal. It supervises the banks and financial institutions in Nepal and guides monetary policy. Nepal Rastra Bank also oversees foreign exchange rates and the country's foreign exchange reserves and regulates the foreign exchange policy.
7. Union Government, ADB signed loan agreement worth 31 Million US dollars
The Union Government and Asian Development Bank (ADB) signed a 31 million US dollars loan agreement to boost water availability in selected river basins in Karnataka and ensure improved water efficiency in irrigation.The agreement was signed by Raj Kumar, Joint Secretary (Multilateral Institutions), Department of Economic Affairs on behalf of the Union Government and M Teresa Kho, Country Director of ADB in India.
ADB’s loan of 31 million US dollars will cover about 65 percent of the total project cost of 48 million US dollars with the state government of Karnataka providing the balance of 17 million US dollars. The loan is the first tranche of the Karnataka Integrated and Sustainable Water Resources Management Investment Program of 150 million US dollars, approved by ADB in 2014. The program will improve irrigation efficiency in three river basins in the state saving 1700 million cubic meters of water.
This saved water could be used on an additional 160000 hectares of farmland which will further lead to increase in farm incomes by about 50 percent and benefit about 1.5 million people.
Besides, the loan will help train and certify over 200 Water Resources Department (WRD) staff in integrated water resources management and build capacities of water users cooperative societies. Through this project, Advanced Centre for IWRM (AC-IWRM) will be developed into a sub-regional accredited institute to provide certification in the field of IWRM.
8. High Court of Gujarat ordered shutting down of 67 sand mines in Gir Forest Sanctuary
High Court of Gujarat ordered shutting down of 67 sand mining units in the Gir Forest Sanctuary, the only adobe of Asiatic lions. These 67 mining units were ordered to stop operation as their leases were not renewed.
The order was passed by a two-judge bench of High Court comprising Justice Jayant Patel and Justice GB Shah on a public interest litigation (PIL) filed by a Surat city-based citizen Rajkumar Sutaria. The petitioner alleged that illegal mining in the area threatened the lives of the wild animals like Asiatic lions, bears, hyneas and golden jackals.
9. A paleo channel claimed as River Saraswati identified in Muglawali village of Haryana
Muglawali village of Yamungar district in Harayana located near Adi Badri was in news . The village came into news after district authorities claimed that they have dugged out a paleo (old) channel which resembles now inactive River Saraswati.During digging, which was done under Mahatma Gandhi National Rural Employment Guarantee Scheme (MNGEGS), the water was discovered from nine spots.
Water found at various spots hints towards presence of a paleo channel (remnants of inactive river) and the initial study of water and sediments by a geologist hints that they are distinct from the locally available water and minerals.
It is widely believed by geologists that Saraswati used to flow from upper Himalayas and entered the plains near Adi Badri, located in the foothills of lower Shivalik mountain ranges.
Digging is being done as part of excavation work of Saraswati Revival Project that started at Rullaheri village on 21 April 2015. The project was started after the decision of Haryana Chief Minister Manohar Lal Khattar to create a new water channel on the dry bed.
10. Lok Sabha passed Repealing and Amending Bill, 2015
Lok Sabha gave its nod for the Repealing and Amending Bill, 2015 which seeks to repeal 36 archaic laws either partially or entirely as they have ceased to be in force or have become obsolete. With this, the bill has been passed by both the houses of Parliament as Rajya Sabha passed the bill on 5 May 2015. Out of the 36 acts, four acts will be repealed entirely. These include The Indian Fisheries Act, 1897, The Foreign Jurisdiction Act, 1947 and The Sugar Undertakings (Taking over of Management) Act, 1978.
The remaining 32 Acts that are being repealed are amendments to principal Acts. These include amendments to the Representation of the People Act, 1951, Hindu Marriage Act, 1955, Anand Marriage Act, 1909 the Indian Evidence Act, 1872 among others.
A similar bill, the Repealing and Amending (Second) Bill, 2014 was passed by the Lok Sabha on 8 December 2014 and is lying with the Rajya Sabha. It is sought to repeal 90 laws and pass amendments to two laws. Out of 90 laws, 88 laws will be repealed completely.
11. Eminent historian Amalendu Guha passed away
Eminent historian and social scientist Amalendu Guha passed away following old age ailments at Ulubari, Guwahati. He was 91.Born on 30 January 1924 in Imphal, Guha was an eminent writer, poet, historian, social scientist and Communist thinker. He wrote in English, Assamese and Bengali languages.
His research work Planter Raj to Swaraj: Freedom Struggle and Electoral Politics in Assam is considered as greatest among his creations. His other books are Medieval and Early Colonial Assam: Society, Polity and Economy and Central Asia: Movement of Peoples and Ideas from Times Prehistoric to Modern.
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