NATIONAL NEWS
India becomes Net Steel Importer in 2018-19
India was a net importer of steel during the 2018-19 fiscal year, the first time in three years, as the country lost market share among its traditional steel buyers and imports jumped on demand for higher-quality steel domestically.
- The country's finished steel exports fell by 34% in the fiscal year that ended in March to 6.36 million tonnes. During the same period, finished steel imports rose 4.7% to 7.84 million tonnes.
MHA gives nod to rename 'Durjanpur' in MP's Katni as 'Shivdham'
The Centre has approved a proposal to change the name of a village in Madhya Pradesh from 'Durjanpur' to 'Shivdham'. The central government's nod was given to the proposal of the Madhya Pradesh government sent last year before the Assembly elections held in November.
- The move came after the Home Ministry got no objection from the Geographical Survey of India (GSI), the Department of Post, the Ministry of Railways and the Ministry of Earth Sciences.
Coast Guard patrol ship Veera commissioned
Chief of Army Staff General Bipin Rawat commissioned the Indian Coast Guard Ship Veera at a ceremony held at Naval Jetty at the dockyard in the city. Veera, third in the series of offshore patrol vessels of the Coast Guard, was built by L&T at its shipbuilding facility at Kattupalli in Chennai.
- The induction of the OPV will give a fillip to the maritime protection of India’s vast coastline of Eastern Seaboard. Veera is the third OPV constructed by L&T. A ship of this class has been designed and constructed in India for the first time as part of ‘Make in India’ concept of the Central government.
Google, Apple block TikTok download in India
Google and Apple have blocked the download of TikTok from Play Store and App Store respectively in India, following a request from the government to ban access to the Chinese short video-sharing app that has been downloaded over 230 million times in the country.
- The Madurai Bench of the Madras High Court refused to lift the ban on TikTok and set April 24 the next hearing date. Expressing concern over the "pornographic and inappropriate" contents of the TikTok, the High Court had, on April 3, directed the Centre to ban the app.
INTERNATIONAL NEWS
IMF and World Bank launches Learning Coin for its In-House Purposes
The International Monetary Fund (IMF) and the World Bank have together launched a private blockchain with a pseudo-token. The new token, called “Learning Coin” and only accessible within the IMF and World Bank, has a purpose to teach relevant individuals within the organizations about blockchain.
- Though the coin has no real value hence the description pseudo-token staff members who pass educational milestones will receive the tokens which can then be redeemed for certain rewards. The purpose is to get employees to understand the applications of blockchain technology in the real world.
BANKING & FINANCE
Canara Bank becomes the first public sector bank in India to meet RBI’s EMV mandate
ACI Worldwide, a global provider of realtime electronic payment and banking solutions, announced that Canara Bank has successfully rolled out major new functionality to support EMV card acquiring across its ATM network and Aadhaar Authentication, leveraging ACI’s UP Retail Payments solution to achieve market firsts.
- The EMV shift, as in other major global markets, is aimed at reducing lost and stolen card fraud and making counterfeit card fraud more difficult.
- Extra info.:
Canara Bank Headquarters: Bengaluru
RBI issues Rs 50 notes bearing Governor Das' signature
The Reserve Bank of India (RBI) issued Rs 50 denomination banknotes bearing the signature of Governor Shaktikanta Das. The design of these notes is similar in all respects to Rs 50 banknotes in Mahatma Gandhi (new) series.
- All banknotes in the denomination of Rs 50 issued by the Reserve Bank in the past will continue to be legal tender.
BUSINESS & ECONOMY
India's travel spend to grow to $136 bn by 2021
The travel spend in India is expected to grow at 13 per cent to a total of $136 billion by 2021, said a new report by Bain & Company and Google India. According to the "How Does India Travel" report, the Indian traveller spent around $94 billion in 2018 on around 2 billion domestic and international trips, thus, helping India's travel and tourism industry achieve unprecedented scale.
- The report indicates a 12 per cent growth in transportation ($50 billion) and 13 per cent growth in lodging ($21 billion) and consumption, which includes spends on shopping, recreation and food, to grow at 13 per cent ($65 billion) over the next three years.
SPORTS
Mithali Raj is goodwill ambassador for SCCWC 2019
Indian women's cricket team captain Mithali Raj has been named the goodwill ambassador of Team India at the Street Child Cricket World Cup (SCCWC). She, alongside Saurav Ganguly and Rajasthan Royals, joins in supporting the team as they gear up for the final match at Lords, just ahead of the ICC Cricket World Cup in May this year.
- The Street Child Cricket World Cup 2019 SCCWC is the first cricket world cup for street-connected children.
APPOINTMENTS
redBus announces M.S. Dhoni as brand ambassador
redBus, the world's largest bus ticketing platform, has announced M.S. Dhoni as its brand ambassador. Dhoni will helm all major campaigns for the brand, across media platforms and will soon appear in his first promotional concept for the brand.
- While redBus commands a strong foothold in the Indian online bus ticketing segment, it is looking at strengthening its relationship with its patrons, while also reaching out to a large group of potential customers.
India Electronics and Semiconductor Association appoints Intel's Jitendra Chaddah as its Chairman
Industry body India Electronics and Semiconductor Association said it has appointed Jitendra Chaddah as its chairman. Chaddah, Intel India senior director for operations and strategy, has over two decades of industry experience.
- IESA also appointed Satya Gupta, co-founder and CEO SenzOpt Technologies India as the new Vice Chairman and Veerappan V, co-founder and director, Tessolve Semiconductor as the new Treasurer.
Rajesh Kumar Yaduvanshi appointed as Punjab National Bank Executive Director
Punjab National Bank (PNB) said it has appointed Rajesh Kumar Yaduvanshi as the Executive Director of the bank. He has also worked with Dena Bank in capacity of the Executive Director.
- Yadivanshi, having 34 years of banking career, had joined PNB as a management trainee in 1985. With his joining, PNB now has three Executive Directors, the others being L V Prabhakar and A K Azad.
- Extra info.:
PNB Headquarters: New Delhi
McAfee appoints Sanjay Manohar as India MD
Cyber security company McAfee announced the appointment of Sanjay Manohar as its Managing Director for India operations. He will build and lead teams to drive product revenues and increase adoption of Cloud-based products.
- Manohar brings over 25 years of industry experience spanning leadership roles across the APAC region.
PwC appoints Padmaja Alaganandan as its new chief people officer
PwC has named Padmaja Alaganandan as its new chief people officer. Alaganandan, who was leader-people and organisation at PwC earlier, takes over from Jagjit Singh. Alaganandan is also in the PwC's India leadership team since January 2019.
- Alaganandan said her priority as chief people officer will be to build talent in line with PwC’s strategy.
AWARDS
Fincare Small Finance Bank Awarded the Celent Model Bank 2019 Award
Fincare Small Finance Bank (SFB) has been awarded the prestigious Celent Model Bank 2019 Award in the category of Financial Inclusion, for 'Redesigning Lending to Reach Small Businesses'.
- The Award was announced at the Innovation & Insight Day organized by Celent in New York. Fincare Small Finance Bank commenced banking operations on the 21st of July, 2017, after receiving the final license from the RBI in May 2017 under Section 22 of the Banking Regulation Act, 1949.
- Extra info.:
Fincare Small Finance Bank Headquarters: Bengaluru , Karnataka
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