1.The National Research Development Corporation (NRDC) will establish a technology data bank for ASEAN region as part of ASEAN-India Innovation Platform.The corporation has been entrusted by the Department of Science and Technology (DST) to manage the platform for a period of four years.The proposed data bank will link existing data banks of available technologies in the ASEAN region.
2.ICICI Bank launched a service which enables Non-Resident Indians (NRIs) to send money to a beneficiary in India using social media platforms like WhatsApp and e-mail.This first-of-its-kind service known as ‘Social Pay’ is available on Money2India (M2I), the bank’s app for remittances.‘Social Pay’ embraces the medium as a way to simplify money transfers, adding to customer convenience.
3.SBI Life Insurance has appointed Sanjeev Nautiyal as its new Managing Director and CEO.He replaces Arijit Basu, who takes over a key role in the State Bank of India Group.
4.Teenager Deepak Lather became the youngest Indian weightlifter to claim a Commonwealth Games medal, clinching a bronze in the men’s 69kg category. The 18-year-old from Haryana lifted a total of 295kg (136kg+159kg) to finish third after his nearest rival, Vaipava Loane, fouled his last two lifts to end with a total of 292kg.
5.The Ministry of Tribal Affairs has approved establishment of the first multipurpose “Van Dhan Vikas Kendra” on the pilot basis for establishment in Bijapur District of Chhattisgarh.The Kendra will provide skill and capacity building training and setting up of primary processing facility.The Kendra will have processing facility for Tamarind brick making & Mahua flower storage facility.
6.The Reserve Bank of India has deferred the adoption of ‘Indian Accounting Standards’ (Ind AS) by banks, for a year, due to the unpreparedness of banks to migrate to the new accounting system.The earlier deadline for banks to switch to the Ind AS was from 1 April 2018.Ind AS is a global accounting practice that lenders are mandated to adopt that may lead to initial credit losses.
7.Indo-Korean joint anti-piracy, search and rescue exercise ‘SAHYOG- HYEOBLYEOG 2018‘ was conducted off the Chennai coast. The Korean Coast Guard ship ‘BADARO’ took part in the exercise. Indian Coast Guard ships and an aircraft also took part in it.
8.RBI directed all regulated entities including banks not to provide services to businesses dealing in virtual currencies like bitcoins, so as to protect consumers and check money laundering.The RBI asked entities, which are already into such services to stop providing this kind of services within three months.The RBI has directed all payment system operators to store all data within India.
9.The Centre, Maharashtra Government and World Bank signed a 420 million dollar project to help small and marginals farmers in the Marathwada and Vidarbha region of the State.The project will help in increasing climate resilient practices in agriculture and ensuring that farming continues to remain a financially viable activity for them.
10.The RBI switched back to the gross domestic product (GDP)-based measure to offer its growth estimates from the gross value added (GVA) methodology.The Government had started analysing growth estimates using GVA methodology from January 2015 and had also changed the base year to 2018 from January.The GDP model gives the picture from the consumers’ side or demand perspective.
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