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India’s First ever Green Rail Corridor between Rameshwaram – Manamadurai in TN
- Indian railways signed a MoU with DRDO (Defence Research & Development Organization) for the development of this technology.
- green corridor is aimed towards the ‘Swachh Bharat Abhiyan’ initiated by Prime Minister Narendra Modi and the Indian Railways have set the target of providing bio-toilets in all the coaches by September, 2019 in order to prevent open defecation on the railway tracks.
Rs 2,048 crore sanctioned under ‘Swadesh Darshan” Scheme
- 25 projects under the“Swadesh Darshan” scheme worth Rs. 2048 Crore to 21 States and Union Territories.
- 21 States and Union Territories include Jammu and Kashmir, Uttarakhand, Rajasthan, Maharashtra, Kerala, Puducherry, Andhra Pradesh, Telangana, Madhya Pradesh, Chattisgarh, Bihar, West Bengal, Sikkim, Assam, Meghalaya, Mizoram, Arunachal Pradesh, Nagaland, Manipur and Tripura.
- North Eastern States: Ministry has sanctioned 9 projects worth Rs. 821 Crores covering all the 8 states.
- sanctioned 3 projects for Rs. 282 Crores to the SG of Nagaland, Chhattisgarh and Telangana.
- The Ministry has sanctioned 2 projects worth Rs.108.11 Crore to the SG of Bihar and Madhya Pradesh.
Hinduja National Power commissions 1,040MW power project in Visakhapatnam
- includes two units of 520 mw each in Visakhapatnam.
- entire power generated by project is being given to state owned Southern and Eastern Power Distribution Companies of Andhra Pradesh.
- aims to scale up capacity to 10,000MW over the next few years with an expected investment of around $ 12-14 billion
India, Mexico target tourism, telecom to boost ties
- India and Mexico are drafting out a new path in bilateral trade and investment ties with a focus on areas like Renewable Energy, Telecom and Medical Devices.
- Decision was taken by the bilateral High Level Group (HLG)on Trade, Investment and Economic Cooperation at the recent meeting in Mexico.
- Indian firms like Suzlon Energyare looking to make huge investments in the renewable energy sector of Mexico.
- Indian companies are interested in Mexico’s telecom sector as the Mexican government is looking to provide high-speed broadband Internet access even in remote areas.
- India’s medical devices sector will grow to$17.6 billion by 2020 from around $10.4 billion in 2014, while in Mexico the medical devices market will grow to $6.5 billion by 2020 from $4.9 billion in 2015.
- Central Government has allowed FDI up to 100 per centunder the automatic route in the manufacturing of medical devices.
- bilateral High Level Group (HLG) also discussed to boost cooperation in tourism, food processing and protection of ‘traditional knowledge’.
ASEAN member countries Finance Ministers meet in Laotian
- meeting is attributed towards contributing to the maintenance and promotion of peace, stability and prosperity in the region and the world.
- central topics to be discussed in this meet includes a versatile listof a range of traditional and non-traditional security challenges, including extremism and terrorism, natural disasters and climate change, refugee issues and human trafficking as well as economic developments, including Britain’s exit from the EU.
- 10 foreign ministersof ASEAN are to be joined by those from dialogue partners, including Chinese Foreign Minister Wang Yi, US Secretary of State John Kerry, as well as Japan’s Fumio Kishida and South Korea’s Yun Byung-se for associated talks that include the Asean Regional Forum and East Asia Summit Foreign Ministers Meeting.
Business and Economy
RBI Fines HDFC, Bank Of Baroda and PNB for Banking Irregularities
- Rs 6,000-crore forex related irregularities, The Reserve Bank of India (RBI) has imposed a monetary penalty on HDFC and Bank of Baroda.
- RBI has imposed a fine ofRs 2 crore on HDFC Bank, and penalised Bank of Baroda of Rs 5 crore.
- RBI penalized HDFC bank for lapses in adhering to KYC/AML (know your customer / anti money laundering) guidelines.
- RBI also fined Punjab National Bank for Rs 3 crorefor violation of the Banking Regulation Act.
ICICI & AXIS bank teams with Global Payment Giant SWIFT Payment Group
- The first domestic leaders to enter the international payment group.
- the first banks in India to join the global payments innovation initiative, ICICI Bank and AXIS bank for cross-border payments, these banks can reiterate their commitment to offering greater speed, transparency and predictability to their clients.
- SWIFT paymentsare a type of international transfer sent via the SWIFT international payment network.
- SWIFT international payment network is one of the largest financial messaging systems in the world.Transfer Wise can send or receive certain currencies via SWIFT payment.
SBI To Use Indian Oil Kisan Seva Centres To Serve Farmers
- SBIhas announced that it is going serve as banking correspondents through Indian Oil Corporation owned 6500 Kisan Seva Kendras.
- KSK centers that offers access to various agricultural inputs like diesel services to the farmers across the country.
- the lender has inked agreement with IOCfor financial inclusion programme that will help the lender further its services to the unbanked rural sectors.
- the customers can use various services like savings account, term deposit, recurring deposit, micro credit, remittances, social security schemes, Aadhaar seeding through KSKs.
NASSCOM ranks TCS Top Employer in IT Industry
- According to this report, IT major TCS grabs the top spot with 362, 079 employees.
- TCS heads the Indian IT industry, with 362,079 employees and Infosys follows TCS ranked second, with 197,050 techies.
Verizon announces its acquittal of Yahoo! Inc. for about $4.83 Billion
- Verizon Communications Inc. andYahoo! Inc. mutually declared that they have entered into a formularized agreement under which Verizon will acquire Yahoo’s operating business for about approximately $4.83 billion.
- provides more evidence that it sees online content and advertising as a primary way to boost growth.
- Yahoo, founded in 1994,was a dominant player in the early days of the internet and the company grew rapidly in the latter half of the 1990s and at one stage was considered to be the most popular ‘starting point’ of the internet.
- Lost its leadership position in internet search and advertising to Alphabet Inc’s Google, Facebook Inc and others.
- Yahoo will now be integrated with AOL and this acquisition will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising.
People in News
ITC appoints Sanjiv Puri as its COO
- Sanjiv Puri has been appointed as the Chief Operating Officer, a newly created portfolio of ITC Limited.
- Puri becomes the second most important executive in the tobacco-FMCG-hospitalityand company declared that Puri, a whole-time director of the company, has been appointed as COO with immediate effect.
- he will now oversee day-to-day affairs across ITC’s businesses.
- Sanjiv Puri, a graduate of the Indian Institute of Technology, Kanpur, joined ITC in 1986. Puri has worked with ITC in several roles.
- He was appointed the Managing Director of Surya Nepal,a subsidiary of ITC in 2001.
- Puri became the Presidentof the company’s fast-moving consumer goods (FMCG) business
Ricoh India Chairman resigns after a prolonged fraud comes to light
- Ricoh India ChairmanTetsuya Takano resigned his designation on July 25 following the company’s intromitted its falsified accounts in BSE
- Ricoh Company, Ltd.is a Japanese multinational imaging and electronics company. It was founded by the RIKEN zaibatsu in 1936. Ricoh’s headquarters are located in Ricoh Building
- Ricoh produces electronic products, primarily cameras and office equipment such as printers, photocopiers, fax machines, offers Software as a Service (SaaS) document management solutions.
Sharad Pawar to step down as MCA chief
- Sharad Pawar to step down from theMumbai Cricket Association(MCA) president within six months.
- RM Lodha Committeehad said in its recommendations that there be caps of 70 years on age and duration of tenure of 9 years of elected office bearers and state associations.
- Apex court said that the these proposals have to implemented in the board within six months of the order.
Nepal Prime Minister Khadga Prasad Oli resigns
- He resigns just before no confidence vote. The no-confidence motion was brought by former Maoist rebels
- Maoist party chairmanPushpa Kamal Dahalis now expected to form a new government.
Science and Technology
Chinese Aviation Company comes up with an amphibious giant to modernize its Armed Forces
- double character airplane named AG600merely about the size of a Boeing 737 and its built to plane built to take off and land on water.
- a maximum take-off weight of 5 tons, the AG600 is the largest seaplane in the world, Xinhua said. It has a reported flight range of 4,500 kilometers and can collect 12 tons of water in only 20 seconds.
- plane is part of a massive program to modernize China’s armed forces, the world’s largest, which includes the development of aircraft carriers, anti-satellite missiles and stealth fighters.
Kanyakumari — first woman violinist to get Sangita Kalanidhi award
- She will be the first female recipient of the prestigious award.
- has been a soloist and teacher besides being a violin player.
- Besides the committee has chosen the following musicians for the respective awards:
♦Sangita Kala Acharya award — R N Thyagrajan, R N Tharanathan and K Venkatramanan
♦ TTK award —- Dr Nirmala Sundararajan and M Kodilingam
♦ Musicologist award — Dr Rama Kausaliya;
♦ The Pappa Venkatramiah award for violin — Sikkil Baskaran;
♦ Natya Kala Acharya Award — Bharatnatyam dancer and choreographer Malavika Sarukkai.
Shooter Manavaditya Rathore Wins Bronze in Junior World Cup
- Manavaditya Rathorewon bronze medal in trap event of ‘Champion of Champions’ match at theJunior World Cup in Porpetto, Italy.
- Anant Narukabagged a bronze in ‘Champion of Champions’ battle in skeet.
- ‘Champion of Champions’ battle: It is a match where the medallists of the three Junior World Cups of the year compete against each other.
Lopez beats Haase 2-0, wins Swiss Open Gstaad 2016
- Feliciano Lopezhas won his first clay court singles title by defeating Netherland’s Robin Haase.
- Lopez is currently No. 21 in the Emirates ATP Rankings, earned 250 points and €82,450in prize money.
- the Sixth Spaniardto win an ATP World Tour title in 2016.
Lewis Hamilton wins Hungarian Grand Prix
- ♦Lewis Hamilton – 1st
♦ Nico Rosberg – 2nd
♦ Daniel Ricciardo – 3rd
♦ Sebastian Vettel – 4th
♦ Max Verstappen – 5th
Rio-bound wrestler Narsingh Yadav fails doping test
- Rio Olympics-bound wrestler in 74 kg categoryNarsingh Yadav, tested positive for a banned steroid.
- Yadav, a Commonwealth Games gold medallist, qualified for next month’s Olympics in the 74-kilogram freestyle category, but tested positive for a banned steroid during routine testing.
- A subsequent sample known as a B sample was also found to be positive.