- VG Kannan appointed CEO of Indian Banks’ Association
V G Kannan took charge as Chief Executive of the Indian Banks’ Association (IBA). He succeeds M V Tanksale who demitted office as Chief Executive on August 9, 2016 after being at the helm for three years. Kannan had retired as Managing Director & Group Executive (Associates & Subsidiaries) of State Bank of India on July 31, 2016.
AWARDS AND HONOURS
- PM Modi 9th most powerful person: Forbes
Prime Minister Narendra Modi has been ranked among the top 10 most powerful people in the world by Forbes in a list that has been topped by Russian President Vladimir Putin for a fourth straight year and had US President-elect Donald Trump in the second place. Modi ranks 9th on the Forbes list of 74 of the World’s Most Powerful People.
- World Bank declares pause to protect Indus Waters Treaty
The World Bank Group has announced a pause in the separate processes initiated by India and Pakistan under the Indus Waters Treaty to allow the two countries to consider alternative ways to resolve their disagreements. The announcement temporarily halts the appointment of a Neutral Expert, as requested by India, and the Chairman of the Court of Arbitration, as requested by Pakistan, to resolve issues regarding two hydroelectric power plants under construction by India along the Indus rivers system.
- Govt announces Lucky GrahakYojana, DigiDhan Vyapari Yojana to promote digital payments
Government announced Lucky Grahak Yojana to encourage consumers and DigiDhan Vyapari Yojana to encourage merchants for transition to digital payments. Chief Executive Officer of NITI Aayog Amitabh Kant said, National Payment Council of India will announce 15,000 winners of 1000 rupees each for next 100 days, starting from this Christmas.
- November WPI inflation at 3.15%
Inflation at the wholesale level slowed in November due to subdued prices, with the Wholesale Price Index registering a growth of 3.15 per cent, its slowest rate since June 2016. WPI registered a growth rate of 3.4 per cent in October, and the index has now witnessed a slowing growth rate for the third consecutive month as of November.
- Paytm partners with NHAI for digital payments at toll plazas
Digital payments platform Paytm has announced partnership with major NHAI toll concessionaries like Reliance Infra, Sadhbav, IRB, MEP, L&T and GMR to enable cashless payments at all state, national and city toll plazas. With the partnership, commuters across the country can now pay their toll charges instantly with Paytm by scanning the QR code placed at toll payment counters, using Paytm app.
- e-Tourist visa extended to citizens of 161 countries
The government has extended the facility of e-Tourist Visa for citizens of 161 countries. Tourism Minister Mahesh Sharma said the number of foreign tourist arrivals on e-Tourist Visa (e-TV) during January to November this year was 9,17,446, registering a growth of 168.5 per cent over same period of previous year.
BANKING AND FINANCE
- PNB launches Mobile Wallet
Punjab National Bank launched the Bank’s Mobile wallet – PNB Kitty. PNB Kitty is a digital wallet that enables a smart phone user to undertake on line transactions using the money stored in it i.e. without using debit card / credit card / internet banking and sharing sensitive information like passwords or card details.
- Seventh Indo-Maldives joint military exercise EKUVERIN begins
Seventh edition of Exercise EKUVERIN will be held from 15 to 28 Dec 2016 at Kadhdhoo, Laamu Atoll, Maldives. The Exercise is a 14 day platoon level joint military exercise between the Indian Army & the Maldives National Defence Force conducted on a yearly basis.
- The aim of the exercise is to conduct military training with emphasis on amphibious & counter insurgency/ counter terrorism operations with a view to enhance interoperability between the two armies.
- The contingents comprise of platoon strength from BIHAR Regiment and a similar strength of the Maldivian National Defence Force. The previous edition of the exercise was held in India at Trivandrum, Kerala.
- Union Cabinet approves India’s approach to climate change negotiations at COP22 to UNFCCC
The Union Cabinet has approved India’s approach to Climate Change Negotiations at the 22nd Conference of Parties (COP) to United Nations Framework Convention on Climate Change (UNFCCC), held in Marrakesh, Morocco in November 2016.
- Approval to India’s Approach to Climate Change Negotiations at the COP is intended to safeguard the interest of poor and vulnerable groups by emphasizing on adaptation, loss and damage, and protecting the development space. It incorporates the interest of all strata of society in the country.
- Aim: To safeguard interest of poor and vulnerable groups by laying stress on adaptation, damage and loss while protecting the development space.
- Union Cabinet approves amended DTAA between India and Tajikistan
The Union Cabinet has approved the protocol amending the agreement between India and Tajikistan for avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. The protocol, after it enters into force, will enable sharing of information exchanged under Double Taxation Avoidance Agreement, DTAA with other law enforcement agencies for non-tax purposes.
- Rio Gets UNESCO World Heritage Status
Brazil- Rio de Janeiro, nicknamed the Marvelous City, officially entered the UN’s list of world heritage sites in recognition of its soaring granite cliffs, urban rainforest and beaches. The UN cultural body, UNESCO, highlighted the “extraordinary fusion” of man-made and natural beauty in certifying Rio on the world heritage list during a ceremony held at the Christ the Redeemer statue.
- Nobel-winning economist Thomas Schelling dies at 95
Nobel Prize-winning economist Thomas Schelling, who used game theory to explain nuclear strategy, has passed away. Schelling was awarded the Nobel Prize in economics in 2005 along with Robert Aumann. The Nobel committee said the economists’ work “enhanced our understanding of conflict and cooperation through game-theory analysis“. Game theory is the mathematical study of strategies used in competitive situations.