1. IDFC appoints Ajay Mahajan to head Commercial, Wholesale Banking
IDFC, soon-to-be-turned bank, announced the appointment of Ajay Mahajan as their Head Commercial and Wholesale Banking in the bank structure to be launched later this year.
Mahajan will oversee coverage of SME (small and medium enterprise), Mid Cap and Large Corporates, Financial Institutions, Government Business and Transaction Banking, Treasury and Markets and Investment Banking, IDFC said in a statement.
With over 23 years of experience in the banking industry, starting with 14 years in Bank of America, Mahajan has previously worked with Yes Bank and UBS.
Mahajan has been heading the Financial Markets Group at IDFC.
2. South African judge orders Sudan President Omar al-Bashir detained
A South African judge on Sunday ordered authorities to prevent Sudanese President Omar al-Bashir, who is in South Africa for an African Union summit, from leaving the country because of an international order for his arrest, human rights activists said.
Mr. al-Bashir appeared for a group photo with other African leaders at the summit in Johannesburg on Sunday, wearing a blue three-piece suit, a tie and a smile as cameras flashed.
Earlier Sunday, a South African judge ordered authorities to prevent Mr. al-Bashir from leaving South Africa because he is wanted by the International Criminal Court, human rights activists said on Sunday.
The African National Congress, which is South Africa’s ruling party, said the South African government granted immunity “for all (summit) participants as part of the international norms for countries hosting such gathering of the A.U. or even the United Nations.”
3. RCom, Sistema Shyam in merger talks
Anil Ambani-led Reliance Communications on Monday said it has entered into exclusive talks with the Russia-based Sistema for a potential merger of its Indian arm through a stock swap.
“The discussions are indicative and non-binding in nature, and remain subject to due diligence, definitive documentation and approvals, as may be necessary. There is no certainty that any transaction will result,” the company said in a filing with stock exchanges.
While Reliance Communications claims a subscriber base of more than 118 million in voice and data market with a pan-India presence, Sistema Shyam TeleServices, the Indian arm of the Russian group, claims 10 million across nine circles under the MTS brand.
4. RTA of UAE included four Indian languages into its driving tests
The Roads and Transport Authority (RTA) of United Arab Emirates (UAE) in the second week of June 2015 decided to include four Indian languages to offer knowledge tests and lectures to aspirants who appear for driving test in the country.
The four Indian languages included along with three other languages are Hindi, Malayalam, Tamil and Bengali. The other three are Chinese, Russian and Persian.
At present, RTA of UAE conducts tests in three languages - English, Urdu and Arabic.
While appearing for driving tests, an aspiring driver will be allowed to opt for any one of these languages for both theory tests as well as eight mandatory lectures from September 2015.
The mandatory lectures and knowledge test are required to obtain a driving licence in UAE. To move to the practical driving classes, an aspirant also needs to pass a computer-based knowledge test.
5. Israeli government approved bill to force feed prisoners
The Israeli government approved a bill that will allow the force-feeding of prisoners that are on hunger strike, if their lives are in danger. The Bill is called as Law to Prevent Harm Caused by Hunger Strikes.
The bill is scheduled to be presented before Knesset, the Israeli Parliament, for first and second readings before it becomes law.
However, Israel's Medical Association opposed the bill and urged local doctors not to participate in force-feedings if the law comes into force. The association considers force-feeding as a form of torture.
Under current Israeli law, it is impossible to treat a patient against his or her own will, but an ethics committee can get involved.
6. Spain passed law awarding citizenship to descendants of expelled Jews
Spain’s Lower House of Parliament (Congreso) approved a law that eases the path to citizenship for descendants of Jews who were forced to flee the country five centuries ago. Several Jews flee away from the country during the Spanish Inquisition.
Tens of thousands of Jews were expelled in 1492 during the Spanish Inquisition, who were forced to convert them to Catholicism or were burnt at the stake.
The new law will allow holding dual citizenship rights for Jews with Spanish ancestry those whose can trace their roots to the expelled Jewish community, also known as Sephardic Jews. This means that such Jews with Spanish ancestry can apply for a Spanish passport from October 2015.
The new law that will grant a right to hold dual citizenship to Sephardic Jews is presently granted to people from its former colonies and neighbouring Portugal and Andorra.
7. Union Government launched mobile app to locate nearest blood bank
Union Government launched Mobile Blood Bank Locator App. The app was launched on the occasion of World Blood Donors Day with an aim to ease access of information regarding the nearest blood bank in the country.
Ministry of Health said that the National Blood Transfusion Council (NBTC) has made available directory of all 2760 licensed blood banks at National Health Portal.
It also said that data of all 76 blood banks in Delhi NCR and 524 blood banks from across the country has been made available. The process of uploading data of remaining licensed blood banks in the country is under process and will be made available soon.
8. Sheila Kaul, former Governor of Himachal Pradesh, died
Former Governor of Himachal Pradesh, ex-Union Minister and Congress leader Sheila Kaul died after a brief illness .She was 100.
She is now survived by sons Gautam Kaul, a retired IPS officer, and Vikram Kaul, an international sports administrator, besides daughter Deepa Kaul, a former Information Minister in UP.
She was married to renowned botanist Kailash Nath Kaul, who established the National Botanical Research Institute in Lucknow. Kaul, sister-in-law of Jawaharlal Nehru, was oldest surviving former Parliamentarian.
9. Zimbabwe government dumped its currency
Zimbabwean dollar was dumped by Zimbabwe as government lead by President Robert Mugabe has decided to discard its national currency. Currency of Zimbabwe was ruined because of hyperflation which reached upto 500 billion per cent. Because of this Zimbabwe was using foreign currencies like US Dollar and South African rand since 2009.
Reserve Bank of Zimbabwe Governor John Mangudya said “From June 15, 2015, customers who held Zimbabwean dollar accounts before March 2009 can approach their banks to convert their Zimbabwean dollar balance into dollars”.
10. . Union Government launched website to connect employers, job seekers
Union Minister for Micro, Small and Medium Enterprises Kalraj Mishra launched a digital Employment Exchange for Industries (EEX) portal eex.dcmsme.gov.in which will connect employers and job seekers. The portal will help in linking Make in India initiative with Skilled India one.
The employers and job seekers can now register at www.eex.dcmsme.gov.in. Nearly, two lakh job seekers have already registered themselves with the EEX.
11. Department of Atomic Energy (DAE) launched India Nuclear Insurance Pool (INIP)
The Department of Atomic Energy (DAE) launched the India Nuclear Insurance Pool (INIP).
The INIP has become the 27th such insurance pool in the world as countries such as France, Russia, South Africa and the U.S. have put in place such similar risk transfer mechanisms.
Features of India Nuclear Insurance Pool (INIP)
• It will cover the risks of liability of nuclear operators and suppliers under Section 6(2) and Section 17 of the Civil Liability for Nuclear Damages (CLND) Act, 2010 respectively.
• It provides three types of policies viz., tier 1 policy for operators, tier 2 policy for turn key suppliers and tier 3 policy for suppliers other than turn key suppliers.
• The pricing of premiums will depend on factors such as risk probability, possible severity of damage and exposure to people and property around nuclear installations.
• It will be administered by the General Insurance Corporation of India (GIC Re), the sole reinsurance company in the Indian insurance market.
• Out of the total fund amount of 1500 crore rupees the GIC Re and other four Public Sector Undertakings (PSUs) including New India, Oriental Insurance, National Insurance and United India Insurance invested 750 crore rupees. The British Nuclear Insurance Pool has also invested 500 crore rupees in the pool.
• The amount is in accordance with the act that prescribes that the operator’s maximum liability shall be 1500 crore rupees.
• It will provide insurance cover for both hot zones (radiation and nuclear reactors) and cold zones (outside the reactor areas). At present, nuclear plants in India only have insurance cover for zones that are outside the area of radiation and reactors.
1. IDFC appoints Ajay Mahajan to head Commercial, Wholesale Banking
IDFC, soon-to-be-turned bank, announced the appointment of Ajay Mahajan as their Head Commercial and Wholesale Banking in the bank structure to be launched later this year.
Mahajan will oversee coverage of SME (small and medium enterprise), Mid Cap and Large Corporates, Financial Institutions, Government Business and Transaction Banking, Treasury and Markets and Investment Banking, IDFC said in a statement.
With over 23 years of experience in the banking industry, starting with 14 years in Bank of America, Mahajan has previously worked with Yes Bank and UBS.
Mahajan has been heading the Financial Markets Group at IDFC.
2. South African judge orders Sudan President Omar al-Bashir detained
A South African judge on Sunday ordered authorities to prevent Sudanese President Omar al-Bashir, who is in South Africa for an African Union summit, from leaving the country because of an international order for his arrest, human rights activists said.
Mr. al-Bashir appeared for a group photo with other African leaders at the summit in Johannesburg on Sunday, wearing a blue three-piece suit, a tie and a smile as cameras flashed.
Earlier Sunday, a South African judge ordered authorities to prevent Mr. al-Bashir from leaving South Africa because he is wanted by the International Criminal Court, human rights activists said on Sunday.
The African National Congress, which is South Africa’s ruling party, said the South African government granted immunity “for all (summit) participants as part of the international norms for countries hosting such gathering of the A.U. or even the United Nations.”
3. RCom, Sistema Shyam in merger talks
Anil Ambani-led Reliance Communications on Monday said it has entered into exclusive talks with the Russia-based Sistema for a potential merger of its Indian arm through a stock swap.
“The discussions are indicative and non-binding in nature, and remain subject to due diligence, definitive documentation and approvals, as may be necessary. There is no certainty that any transaction will result,” the company said in a filing with stock exchanges.
While Reliance Communications claims a subscriber base of more than 118 million in voice and data market with a pan-India presence, Sistema Shyam TeleServices, the Indian arm of the Russian group, claims 10 million across nine circles under the MTS brand.
4. RTA of UAE included four Indian languages into its driving tests
The Roads and Transport Authority (RTA) of United Arab Emirates (UAE) in the second week of June 2015 decided to include four Indian languages to offer knowledge tests and lectures to aspirants who appear for driving test in the country.
The four Indian languages included along with three other languages are Hindi, Malayalam, Tamil and Bengali. The other three are Chinese, Russian and Persian.
At present, RTA of UAE conducts tests in three languages - English, Urdu and Arabic.
While appearing for driving tests, an aspiring driver will be allowed to opt for any one of these languages for both theory tests as well as eight mandatory lectures from September 2015.
The mandatory lectures and knowledge test are required to obtain a driving licence in UAE. To move to the practical driving classes, an aspirant also needs to pass a computer-based knowledge test.
5. Israeli government approved bill to force feed prisoners
The Israeli government approved a bill that will allow the force-feeding of prisoners that are on hunger strike, if their lives are in danger. The Bill is called as Law to Prevent Harm Caused by Hunger Strikes.
The bill is scheduled to be presented before Knesset, the Israeli Parliament, for first and second readings before it becomes law.
However, Israel's Medical Association opposed the bill and urged local doctors not to participate in force-feedings if the law comes into force. The association considers force-feeding as a form of torture.
Under current Israeli law, it is impossible to treat a patient against his or her own will, but an ethics committee can get involved.
6. Spain passed law awarding citizenship to descendants of expelled Jews
Spain’s Lower House of Parliament (Congreso) approved a law that eases the path to citizenship for descendants of Jews who were forced to flee the country five centuries ago. Several Jews flee away from the country during the Spanish Inquisition.
Tens of thousands of Jews were expelled in 1492 during the Spanish Inquisition, who were forced to convert them to Catholicism or were burnt at the stake.
The new law will allow holding dual citizenship rights for Jews with Spanish ancestry those whose can trace their roots to the expelled Jewish community, also known as Sephardic Jews. This means that such Jews with Spanish ancestry can apply for a Spanish passport from October 2015.
The new law that will grant a right to hold dual citizenship to Sephardic Jews is presently granted to people from its former colonies and neighbouring Portugal and Andorra.
7. Union Government launched mobile app to locate nearest blood bank
Union Government launched Mobile Blood Bank Locator App. The app was launched on the occasion of World Blood Donors Day with an aim to ease access of information regarding the nearest blood bank in the country.
Ministry of Health said that the National Blood Transfusion Council (NBTC) has made available directory of all 2760 licensed blood banks at National Health Portal.
It also said that data of all 76 blood banks in Delhi NCR and 524 blood banks from across the country has been made available. The process of uploading data of remaining licensed blood banks in the country is under process and will be made available soon.
8. Sheila Kaul, former Governor of Himachal Pradesh, died
Former Governor of Himachal Pradesh, ex-Union Minister and Congress leader Sheila Kaul died after a brief illness .She was 100.
She is now survived by sons Gautam Kaul, a retired IPS officer, and Vikram Kaul, an international sports administrator, besides daughter Deepa Kaul, a former Information Minister in UP.
She was married to renowned botanist Kailash Nath Kaul, who established the National Botanical Research Institute in Lucknow. Kaul, sister-in-law of Jawaharlal Nehru, was oldest surviving former Parliamentarian.
9. Zimbabwe government dumped its currency
Zimbabwean dollar was dumped by Zimbabwe as government lead by President Robert Mugabe has decided to discard its national currency. Currency of Zimbabwe was ruined because of hyperflation which reached upto 500 billion per cent. Because of this Zimbabwe was using foreign currencies like US Dollar and South African rand since 2009.
Reserve Bank of Zimbabwe Governor John Mangudya said “From June 15, 2015, customers who held Zimbabwean dollar accounts before March 2009 can approach their banks to convert their Zimbabwean dollar balance into dollars”.
10. . Union Government launched website to connect employers, job seekers
Union Minister for Micro, Small and Medium Enterprises Kalraj Mishra launched a digital Employment Exchange for Industries (EEX) portal eex.dcmsme.gov.in which will connect employers and job seekers. The portal will help in linking Make in India initiative with Skilled India one.
The employers and job seekers can now register at www.eex.dcmsme.gov.in. Nearly, two lakh job seekers have already registered themselves with the EEX.
11. Department of Atomic Energy (DAE) launched India Nuclear Insurance Pool (INIP)
The Department of Atomic Energy (DAE) launched the India Nuclear Insurance Pool (INIP).
The INIP has become the 27th such insurance pool in the world as countries such as France, Russia, South Africa and the U.S. have put in place such similar risk transfer mechanisms.
Features of India Nuclear Insurance Pool (INIP)
• It will cover the risks of liability of nuclear operators and suppliers under Section 6(2) and Section 17 of the Civil Liability for Nuclear Damages (CLND) Act, 2010 respectively.
• It provides three types of policies viz., tier 1 policy for operators, tier 2 policy for turn key suppliers and tier 3 policy for suppliers other than turn key suppliers.
• The pricing of premiums will depend on factors such as risk probability, possible severity of damage and exposure to people and property around nuclear installations.
• It will be administered by the General Insurance Corporation of India (GIC Re), the sole reinsurance company in the Indian insurance market.
• Out of the total fund amount of 1500 crore rupees the GIC Re and other four Public Sector Undertakings (PSUs) including New India, Oriental Insurance, National Insurance and United India Insurance invested 750 crore rupees. The British Nuclear Insurance Pool has also invested 500 crore rupees in the pool.
• The amount is in accordance with the act that prescribes that the operator’s maximum liability shall be 1500 crore rupees.
• It will provide insurance cover for both hot zones (radiation and nuclear reactors) and cold zones (outside the reactor areas). At present, nuclear plants in India only have insurance cover for zones that are outside the area of radiation and reactors.
Thnx Team fr updating daily current affairs
ReplyDeleteI daily make a notes oF General awareness and Current affairs