Bookmark Bookmark

Daily News Digest, 19th February 2016

SBI raises Rs 3,000 crore through tier-II bonds

  • State Bank of India has raised Rs.3,000 crore through tier-II bonds.
  • SBI has priced its 10-year bonds at a yield of 8.45%.
  • These bonds have a call option at the end of the fifth year under which the lender has the option to call back its bonds from investors and repay them ahead of the tenure if it wishes to.
  • Public sector lenders have been raising capital from the bond market through tier-ii and tier-I bonds and such issuances have risen since October.
  • Amid a surge in bad loans and the provisioning for the same, public sector lenders are in dire need of capital to meet not just incremental credit demand but also Basel-III norms.
  • Private agencies such as ICRA and CARE Ratings estimate that banks need Rs.1.8 trillion in tier-I capital, out of which Rs.70,000 crore will be through government infusion.

Gaurav Sharma wins bronze in the 59kg Greco-Roman model at the Asian Championships

  • India’s Gaurav Sharma clinched the bronze in the 59kg Greco-Roman model at Asian Wrestling Championships in Bangkok.
  • He has defeated Eun-Bin Kim of Korea.
  • This is now India’s fourth medal.
  • Hardeep Singh won the silver in the 98kg category of the Greco-Roman model after beating Mahdi Abbas Aliyarifeizabadi from Iran in the Gold medal match.
  • This also rounds-off the Greco-Roman phase of the competition and India should certainly be happy with their performance in this stage.
  • The Asian Wrestling Championships is the second phase of the qualification process for the Rio Olympics.

NETRA ties up with German institutes for solar power research

  • NTPC Energy Technology Research Alliance is collaborating with two German institutions for research in solar thermal and solar photovoltaic technologies.
  • NETRA is the research and development arm of the public sector power generator NTPC
  • With DLR Cologne, the company is carrying out research in the field of solar thermal and Institute of Solar Energy Fraunhofer, the research is in the field of solar photovoltaic.
  • NETRA plans to set up a state of art evaluation facilities for Solar PV and conduct various programs for knowledge sharing, capacity building with German institutions in the area of solar energy.

Mirza International board approves Genesis Footwear merger 

  • Footwear maker Mirza International has approved the merger of Genesis Footwear Enterprises Private Ltd with Mirza International.
  • The merger has been approved by the Hon’ble Allahabad High Court vide its order dated December 15, 2015.
  • The Board allotted one crore fifty-six lakh fully paid-up equity shares of ₹2 each and one crore twenty lakh fully paid-up zero percent Compulsory Convertible Preference Shares of ₹2 each to the shareholders of the transferor company.
  • The Board also noted that the account of Genesis Footwear Enterprises Private Ltd will be amalgamated with that of Mirza International with effect from April 1, 2015.

UK Sinha assumes charge of SEBI

  • UK Sinha assumed charge as Chairman of the Securities and Exchange Board of India.
  • Sinha was appointed for a three-year term with effect from February 18, 2011.
  • He has succeeded CB Bhave.
  • His tenure was extended for another two years.
  • The SEBI Chairman who will succeed Sinha is likely to get a mandatory five-year term.

CIDCO signs MoUs worth Rs 30,000 crore during Make in India Week

  • City and Industrial Development Corporation of Maharashtra (CIDCO) has signed 11 MoUs worth Rs 30,000 crore for the development of Navi Mumbai Airport Influence Notified Area (NAINA) projects including Khalapur Smart City, during Make In India Week.
  • A total of 11 MoUs has been signed during the week for the development of NAINA pilot project in Navi Mumbai which also includes integrated township Khalapur Smart City.
  • The MoUs were signed in the presence of Maharashtra Chief Minister Devendra Fadnavis.
  • CIDCO has also signed a MoU with Transparency International India to combat corruption and for effective governance.
  • Some of the MoUs signed by the corporation were with Paradise Lifespaces LLP (Rs 3,000 crore), Citygold & Research Ltd (Rs 2,000 crore), Marathon Group (Rs 4,960 crore), Wadhwa Constructions and Infrastructure Pvt Ltd (Rs 10,000 crore).

Ramachandra Galla gets lifetime achievement award at ABP News CSR Leadership Awards 2015

  • Ramachandra N Galla was conferred the Life Time achievement award by ABP News CSR Leadership Awards 2015.
  • He is the Founder Chairman of  Amara Raja Group
  • The award is given for the contribution in creating an economically and socially vibrant society.
  • He was also awarded the Social Entrepreneur of the year award for building an institution that has contributed immensely towards social responsibility. The event was held at TajLands End, Mumbai on February 17.
  • Galla established the charitable trust Rajanna Trust under the aegis of the Amara Raja Group. The Trust strives to ensure fair and equitable participation of rural households in national development.

Michael Pesch appointed as the CEO of Infosys Consulting Holding

  • Infosys has appointed Michael Pesch as chief executive officer (CEO) of Infosys Consulting Holding AG
  • His appoint will be effective from April 1.
  • He will focus on expanding the reach of Infosys consultants and experts in digital transformation and design-led innovation as well as increasing Infosys' expertise in large-scale SAP programmes.
  • He will also serve as the regional head for the DACH (Germany, Austria and Switzerland) countries.
  •  Pesch has more than two decades of experience in global consulting and management roles and till very recently served as CEO of Arvato Systems Group.
  • He will be responsible for Infosys' consulting practice in Europe, Latin America and the Asia-Pacific region and will report into Sanjay Purohit, global head of Infosys Consulting.

Indian Government approves the building of 80K houses for poor

  • The Central Government has given its nod for the construction of over 80,000 houses in urban areas in seven states for the Economically Weaker Sections (EWS).
  • The proposals which entail a total investment of more than Rs 4,000 crore.
  • The houses will be built in 163 cities in the seven states.
  • A total central assistance of Rs 1,226 crore at the rate of Rs 1.50 lakh for each house and will be provided under the Prime Minister's Awas Yojana (Urban) with the overall cost of the project estimated to be Rs 4,076 crore.
  • West Bengal has been sanctioned a total of 27,830 houses, followed by Telangana-22,817; Bihar-13,315; Mizoram-8,922; Rajasthan-6,052; Jharkhand--2,337 and Uttarakhand- 484.

PM Narendra Modi promises e-agri market ‘NAM’ from April 14 Narendra Modi promises e-agri market ‘NAM’ from April 14

  • Prime Minister Narendra Modi has announced the launch of the ‘National Agriculture Market’ — a new digital platform that will be available to farmers across the country from April 14, the birth anniversary of Dr Babasaheb Ambedkar.Narendra Modi has announced the launch of the ‘National Agriculture Market’ — a new digital platform that will be available to farmers across the country from April 14, the birth anniversary of Dr Babasaheb Ambedkar.
  • Under the e-agri platform, the government is working towards integrating all the 585 wholesale mandis of the country by 2018 in a phased manner for which Rs 200 crore has been earmarked.agri platform, the government is working towards integrating all the 585 wholesale mandis of the country by 2018 in a phased manner for which Rs 200 crore has been earmarked.
  • In the first phase, 200 mandis will be integrated by this March-end while another 200 will be connected to the online platform in 2017 and the rest by 2018.mandis will be integrated by this March-end while another 200 will be connected to the online platform in 2017 and the rest by 2018.
  • The Centre has received proposals from states like Karnataka, Gujarat, Telangana and Maharashtra for developing necessary infrastructure in wholesale markets.Karnataka, Gujarat, Telangana and Maharashtra for developing necessary infrastructure in wholesale markets.
  • A strategic partner for implementing the national agri e-market has also been identified.
Take a quiz on what you read Start Now

You might be interested:

How to prepare General Knowledge & General Science Section for RRB NTPC Examination 2016

How to prepare General Knowledge & General Science Section for RRB NTPC Examination 2016 Dear Aspirants, General Knowledge & General Science have always been taken as the lightest section of t ...

6 years ago

KM Mammen elected as the Chairman of ATMA

KM Mammen elected as the Chairman of ATMA KM Mammen has been elected Chairman of the Automotive Tyre Manufacturers Association (ATMA), the national industry body for automotive tyre sector. He is the ...

6 years ago

IAS Current Affairs: Cabinet approves Amendment to the Delimitation Act, 2002 and the Representation of the People Act, 1950

IAS Current Affairs: February 19, 2016    Kindly Bookmark & Share if you find it relevant to your IAS Exam Preparation. TOPIC: Amendment to the Delimitation Act, 2 ...

6 years ago

IAS Current Affairs: Environment Minister launches ENVIS portal

IAS Current Affairs: February 19, 2016    Kindly Bookmark & Share if you find it relevant to your IAS Exam Preparation. TOPIC: Environment Minister launches ENVIS ...

6 years ago

IAS Current Affairs: Indian Government clears proposal for Gravitational Wave Detector

IAS Current Affairs: February 19, 2016    Kindly Bookmark & Share if you find it relevant to your IAS Exam Preparation. TOPIC: Indian Government clears proposal for Gra ...

6 years ago

IIPE and Andhra University signs MoU to start the IIPE sessions

IIPE and Andhra University signs MoU to start the IIPE sessions Indian Government has established Indian Institute of Petroleum and Energy (IIPE), Visakhapatnam after the Andhra Pradesh Reorganisatio ...

6 years ago

Provide your feedback on this article: