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> MIT scientists built biggest ever carbon nanotube computer chip
Scientists at the Massachusetts Institute of Technology have developed the biggest ever computer chip using carbon nanotubes, instead of silicon. The RV16XNano is a 16-bit processor that contains 14,000 transistors- electronic switches. Professor Norio Taniguchi coined the term nanotechnology.
> Government to Merge Ten Public Sector Banks into four
FM announced following merger Punjab National Bank, Oriental Bank of Commerce and United Bank together (2nd largest); Canara Bank and Syndicate will be merged with Andhra Bank and Corporation Bank (5th largest). Indian Bank will be merged with Allahbad Bank.
> NTPC Sets Up Subsidiary To Foray Into Commercial Coal Mining
NTPC Ltd. announced incorporation of a subsidiary, NTPC Mining Ltd., paving the way for its foray into commercial coal ining. The state run power firm also has plans to, list the coal subsidiary on the stock exchanges.
> India’s fiscal deficit in July at 77.8% of 2019-20 target
According to data released by the Controller General of Accounts, India’s fiscal deficit in July was at 77.8% of its 2019-20 target. The gap between the government’s revenue and expenditure rose to Rs 5.47 lakh crore at the end of July.
Girraj Prasad Gupta is present Contoller General of Accounts.
> ICFRE-ICIMOD’s REDD_ Himalayan programme extended till 2020
REDD+ programme being carried out in the himalayan states jointly by Indian Council of Forestry Research and Education and International Centre for Integrated Mountain Developement has been extended till July 2020.
> IndiGo appoints Aditya Pande as its new CFO
InterGlobe Aviation Ltd. has appointed GE-Healthcare official Aditya Pande as its chief financial officer. He replaces Rohilt Philip. He is a qualified chartered accountant and has over 27 years of finance leadership experience.
> RBI extends deadline for PPIs to become full KYC complaint
The RBI extended the timeline for the conversion of minimum detail Prepaid Payment instruments to KYC-complaint PPIs from 18 months to 24 months. Payments Council of India welcomed the move.
> NPCI revised merchant discount rates for BHIM UPI transactions
NPCI has rationalised merchant discount rates for BHIM UPI transactions to promote digital payments. As per the latest notification, the Merchant discount rates has been revised to 0.30% with a maximum cap of Rs 100 per transaction.
> SBI raises up to Rs 3,105 crore by issuing Basel-III complaint bonds
SBI accorded approval to allot 31,048 non-convertible, taxable, perpetual, subordinated, unsecured Basel-III compliant bonds for inclusion in bank’s additional tier-1 capital. Indian banking system implementing Basel-III standards in phases since April 1, 2013.
> India’s GDP growth slows to 5% in April-June 2019
The Central Statistics Office released the GDP numbers for April-June quarter, which showed India’s GDP expanded 5% in the quarter through June, the slowest pace in six and half years. Indian economy grew 5 percent year-on-year in 1st quarter of FY2020.
> India-UK project to find affordable solutions to cancer
The government’s Department of Biotechnology has joined hands with British charity, Cancer Research UK, to launch a research challenge for affordable approaches to cancer. The initiative will fund research projects totalling 10 million pounds over the next. It will be managed by DBT/Wellcome Trust India Alliance.
> Yashawini Deshwal wins gold at ISSF World Cup
Yashawini Singh Deshwal won gold in the Women’s 10 meter air pistol event at the ISSF World Cup at in Rio de Janerio in Brazil securing an Olympic quota for India.
> Entire month of September is to be celebrated as the Rashtriya Poshan Maah
Entire month of September is to be celebrated as the Rashtriya Poshan Maah. 2019 theme is Complentary Feeding. PM’s Overreaching Scheme for Holistic Nourishment – Poshan Abhiyaan is a multi-ministerial convergenance addressing malnutrition.
> New Governors appointed for five Indian States
Bhagat Singh Koshyari has been appointed as the new Governor of Maharashtra while former Union Minister Arif Mohammed Khan takes the responsibility of Kerala governor. Bandaru Dattatraya will be the new Governor of Himachal Pradesh.
> UPI transactions overtake debit card payments in 2018-19
No. of transactions via real timer payments system, the Unified Payments Interface were 1.2 times higher than number of debit card transactions in 2018-19, as per RBI report. 5.35 billion UPI based transactions, seen compared to 4.41 billion debit card uses
> Shot putter Tejinderpal Singh Toor clinches silver in Athletic meet at Decin in the Czech Republic
> Manoj Mukund Naravane takes charge as VC Army staff
> IDBI Bank launches repo-linked home, auto loans
LIC owned IDBI is offering home loan for up to Rs 75 lakh with a tenor of up to 35 years at an interest rate of 8.30% per annum. It has also introduced bulk deposits linked to the repo rate in select buckets of home and auto loan products.
> Meity and Google tie up to Build for Digital India
Ministry of Electronics and Information Technology and Google signed a statement of intent to roll-out ‘Build for Digital India’, a programme that will give engineering students a platform to develop market-ready, technology based solutions.
> Mahindra to acquire 55% stake in Meru cabs
Mahindra & Mahindra is acquiring 55% stake in ride hailing and radio taxi operator Meru Travel Solutions for a cash consideration of up to Rs 201.5 crore. M&M will make a primary investment of an amount not exceeding Rs 103.5 crore for a stake of up to 55% in Meru.
> Lt Gen Anil Chauhan assumes charge as Eastern Army Commander
> GST collection up 4.51% in August at Rs 98,202 crore
According to Finance Ministry, Gross Goods and Services Tax collection in August 2019 rose 4.51% year-on-year to Rs 98,202 crore but remained below Rs 1 trillion mark, which was collected in July this year.
> Ferrari’s Charles Leclerc wins Belgian Grand Prix
> NTPC, in collaboration with IOCL, commssioned its first EV charging station along with the Indian Oil Corporation in Greater Noida
> IIT Roorkee and Microsoft join hands to teach students quantum computing
Microsoft partnered with IIT Roorkee to conduct lectures on quantum computing for a full semester. IITs, BTech and MTech students can now choose the course as a pool elective.
> ECL Finance Ltd, a subsidiary of Edelweiss and Central Bank of India tie up
ECL Finance Ltd, a subsidiary of Edelweiss Financial Services and Central Bank of India have signed an agreement for priority sector lending to Micro, Small and Medium Enterprise customers
> LIC assets rise to Rs 31.11 lakh crore
LIC said its assets have grown to over Rs 31.11 lakh crore. With the increased buisness, the market share of the insure rose to 73.1% at the end of July 2019. It started with an initial capital of Rs 5 crore in 1956.
> Hindustan Zinc reeives its first European patent
Hindustan Zinc received its first European patent. The patent was developed by ZnTech+, formerly Central Research and Development Laboratory, Hindustan Zinc. Hindustan Zinc has filed 4 national and 2 international patents.
> Emmy Award winning actress Valerie Harper passes away
> DBS revises India’s GDP grwoth to 6.2% for FY20
> Vice President M. Venkiah Naidu inaugurated the country’s longest electrified rail tunnel between Cherlopalli and Rapuruat 6.7 kms. Tunnel is built at a cost of Rs 437 crore, has 44 trolley refuges and 14 cross-passages in a horseshoe design.
> Haryana government waives Rs 4,750 crore interest penalty on crop loans taken from cooperative banks
> Fintech panel suggest legal framework to protect digital services consumers
A panel on Fintech has pitched for development of a marketplace model for peer-to-peer lending, virtual banking to allow lenders to operate without branches, use of drones for field assessments and artificial intelligence to reduce frauds
> Govt to infuse Rs 9,000 crore in IDBI as ballout money
IDBI Bank is set to get a fresh lifeline of Rs 9,000 crore from the Government. LIC, which is the majority owner of IDBI Bank, would infuse close to Rs 4,500 crore as its share, the government is expected to chip in with a matching contribution.
> Rujuta Khade emerges as country’s fastest female swimmer in 50m freestyle at 73rd Glenmark National senior aquatics championships in Bhopal and Virdhawal Khade won the Men’s 50m freestyle title
> 12-day 14th Conference of Parties-14 to UN Convention to Comabat Desertification is held at Expo Centre and Mart, Greater Noida
> Dr Harsh Vardhan addresses WHO Regional Committee for South-East Asia
> KVIC launches ‘Terracotta Grinder’ at Varanasi to Re-use wasted pottery
> Exercise Yudh Abhyas 2019 underway in USA
As part of the ongoing Indo-US defence cooperation, 15th edition of the joint military training, Exercise Yudh Abhyas – 2019 is being conducted at Joint Base Lewis Mc Chord, Washington, USA
> CEC Sunil Arora assumes charge as AWEB Chairman
Chief Election Commissioner Sunil Arora assumed Chairmanship of Association of World Election Bodies for the term 2019-21 as India takes over the Chair from Romania. India was nominated to be Vice-Chair, AWEB at the General Assembly held in 2017
> ESIC inks pact with SBI for payments to ESIC beneficiaries
Employees’ State Insurance Corporation signed MoU with SBI to provide e-payment services directly to the bank accounts of all ESIC beneficiaries and payees without any manual intervention as an integrated and automated process.
> RBI panel recommends self-regulatory agency for secondary markets
Task force headed by Canara Bank chairman T.N. Manomoharan recommended setting up of a self-regulatory body, to oversee the proposed secondary market. SRB’s role will be to standarize loan process, ensure standarization of pratices and promote growth.
> Mithali Raj announces retirement from T20 International cricket
ODI captain Mithali Raj announced her retirement from T20 Internationals intending to focus on her ODI career, keping in mind the 2021 World Cup. Her T20 career has 2,364 runs from 89 matches at an average of 37.5, highest score of 97 not out
> IAF inducts 8 Apache helicopters
Indian Air Force added 8 Apache helicopters at the Pathankot Air Force Station in Punjab. 125 helicopter squadron, known as the ‘Gladiators’, will have 22 boeing built Apaches, which will be stationed at Pathankot and in Jorhat Air Force Station in Assam
> Chhatrapati Shivaji Maharaj Terminus adjudged as best ‘Swachh Iconic Place’
Mumbai’s Chhatrapati Shivaji Maharaj Terminus has been adjudged as the best ‘Swachh Iconic Place’ under the Swchh Bharat Mission. The award will be recieved by the Ministry of Railways jointly along with BMC and CSR partner
> Paytm Money, the wholly-owned subsidiary of One97 Communications that owns and operates Paytm has elevated Pravin Jadhav as Managing Director and Chief Executive Officer
> Reliance Power with Japan’s JERA to set up power plant in Bangladesh
Reliance Power signed a deal with JERA for jointly setting up to 750 Mw gas based combined cycle power project in Meghnaghat, Bangladesh. RPower will hold 51% stake while JERA will have 49% in the joint venture company
> International Day of Charity is observed every year on 5 September in recognition of Mother Teresa’s role of charity in alleviating humanitarian crises and human suffering within and among nation.
> MCX, Zhengzhou Exchange sign MoU for exchange of information
Multi Commodity Exchange of India and Zhengzhou Commodity Exchange of China have MoU for co-operation and the exchange of information. MCX offers commodity futures contracts in bullion, base metal, energy and agricultural commodities
> IDBI Bank to divest stake in insurance joint venture
IDBI Bank announced the plan to sell its stake in its insurance joint venture IDBI Federal Life Insurance Co, while JP mOrgan India has been mandated to manage the process for the same. IDBI Bank owns 48% of the insuranec company.
> StanChart launches DigiSmart card
Standard Chartered Bank launched a DigiSmart credit card that would be available for a monthly fee of Rs 49, which will, however, be waived off if the customer spends more than Rs 5,000 in the previous month.
> WIPRO secures deal worth $300 million from ICICI Bank
Wipro Ltd secured a strategic 7-year deal valued at $300 million from ICICI Bank to provide a suite of digital services and to further strengthen our endeavour to provide differentiated technology and digital technology and digital capabilities to financial services industry.
> Nissan India appoints Rakesh Srivastava as Managing Director
> India Russia sign energy deal, set $30 billion trade target by 2025
India–Russia signed a 5-year road map for cooperation in the energy sector, ccoperation in the production of spare parts for Russian-Indian military equipment to infrastructure finance.
> Nobel Laureate Prof Muhammad Yunus conferred ‘Lamp of Peace of Saint Francis’ award
> LaShawn Daniels Grammy Award-winning songwriter dies at 41
> India ranked 34th in Travel and Tourism Compititiveness index
> Gujarat Government and Delaware State of America signed MoU for sister state (Gujrat)
> NCLT approves JSW Steel’s Rs 19,700 crore bid for Bhusan Power Power and Steel
> 28th edition of Indo-Thai CORPAT underway
28th edition of India-Thailand Coordinated Patrol between Indian Navy and Royal Navy is being conducted. IN Ship Kesari and His Majesty’s Thailand Ship Kraburi along with Maritime Patrol Aircraft from both the naives are participating in the CORPAT
> Acclaimed English-Marathi journalist and writer Kiran Nagarkar passed away at the age of 77. He wrote “Cuckold” which won him the 2001 Sahitya Akademi award.
> New Development Bank to lend Rs 6,000 crore to Andhra Pradesh for various infrastructure projects
> Fin min sets up task force to identify infra projects worth Rs 100 trillion
> PM Modi launches BEML-built coach for Mumbai metro
> Zimbawe’s former president Robert Mugabe passes away at 95
> Bank of Baroda approves Rs 2,000 crore loan for Bundelkhand Expressway project