Kolkata becomes India’s first Wi-Fi-enabled metro city
Kolkata has become India’s first Wi-Fi-enabled metro city as the service was launched from Park Street in city. This 4th Generation (4G) free Wi-fi service was launched by West Bengal Chief Minister Mamata Banerjee. Free Wi-fi service will be will be rolled out in phased manner in all the wards under Kolkata Municipal Corporation (KMC) as well as adjacent areas of Kolkata. The whole city is expected to come under Wi-Fi coverage by mid-April in 2015. Private telecom operator, Reliance Jio is providing the 4G enabled service Wi-fi in the city.
Ant Financial Services Group, an affiliate of China’s largest e-commerce firm Alibaba Group Holding Ltd, has agreed to buy a 25% stake in One97 Communications Ltd, which owns mobile payment platform Paytm, in a move to tap the mobile payments business in a market where the lines between telcos, banks, retailers, and so-called e-wallet companies such as One97 are set to blur. The companies did not disclose the value of the transaction. Two people familiar with the investor’s plans said it may purchase a controlling interest in One97 two years down the line, contingent to Paytm meeting certain performance milestones. Neither of the two wished to be identified.
Jan Aushadhi to facilitate buying 504 low cost generic medicines from July
The union government will obtain medicines in bulk, from both public and private drug manufacturing companies, covering some 504 essential medicines, and launch its own Jan Aushadhi brand that would sell these low-cost generic medicines. The Indian pharmaceutical market, which has a turnover in excess of Rs. 87,000 crore annually, is dominated by branded medicines, which our doctors prefer to prescribe. It has been found that generic medicines, as against the branded product, are definitely cheaper and effective for use by patients. But, shops selling these generic equivalents of the brands are few and far between. Indian formulations for supplies to overseas drug makers have been going on for decades and export is a money spinner for these companies in India.
India among top 3 nations generating most billionaires
India has for the first time managed to find a place among the top three countries generating most number of billionaires in the world with Reliance Industries' Mukesh Ambani, heading the Hurun Global Rich List-India 2015 of wealthiest in the country. The India list gives details of the richest people in the country with a cut off wealth of Rs. 6,000 crore. Mukesh Ambani with a a wealth of Rs.1.2 lakh crore tops the list among billionaires in the country, followed by Dilip Shanghvi of Sun Pharma with an estimated wealth of Rs. 1.02 lakh crore.
Sanjeev Kaushik takes over as Executive Director of IIFCL
Sanjeev Kaushik, a 1992 batch IAS officer of the Kerala cadre, has taken over as Executive Director of India Infrastructure Finance Company Ltd ( IIFCL). Kaushik was handling Financial Markets in the Department of Economic Affairs prior to joining the company. He was handling policy and regulatory matters relating to capital markets. He was Member Secretary of the Committee to liberalise depository receipts, Member of the SEBI Committee on harmonisation of portfolio flows and regulatory matters relating to capital markets. He was Member Secretary of the Committee to liberalise depository receipts, Member of the SEBI Committee on harmonisation of portfolio flows and also of the SEBI Committee on disclosure and accounting.
HDFC Bank raises Rs 9,800 cr via QIP, ADR
HDFC Bank, one of the leading private sector banks in India, on Thursday raised nearly Rs 9,800 crore through a combination of foreign and domestic offerings. The fund-raising was aided by the government's recent clearance for foreign investors to invest in the bank. HDFC Bank had a shareholder permission to raise up to Rs 10,000 crore through issue of shares. On Thursday, the bank raised about Rs 7,800 crore through an American depositary receipt (ADR) offering on the New York Stock Exchange where it is already listed. It offered 2.2 crore ADRs at $57.76 each, with each depositary share representing three shares of the bank. It also sold about 1.87 crore new shares in the domestic market at Rs 1,067 per share, aggregating to Rs 1,985 crore through a qualified institutional placement (QIP) offering that was oversubscribed over four times.
Anil Goswami removed, L.C. Goyal new home secretary
Rural development secretary L.C Goyal, a 1979-batch Indian Administrative Service (IAS) officer of Kerala cadre, has been appointed as the next home secretary. Home secretary Anil Goswami resigned on Wednesday after government asked him to put in his papers in the wake of controversy over his alleged attempt to stall the arrest of Saradha scam accused Matang Sinh, a former Congress minister at the centre. Official sources said Goswami who turned 60 last month and would have continued till 30 June was asked to resign after which he submitted his resignation. The sources which earlier said Goswami was removed later conveyed to the media that he was allowed to resign to give a “dignified” exit.
Anail Baijal Panel to suggest a framework to assess CSR activities
Government constituted a Anail Baijal panel to suggest a framework to assess Corporate Social Responsibilities (CSR) activities. The panel will evaluate money spent on CSR activities by the companies and will also give suitable methodologies for monitoring compliance of the CSR provisions.
US President appoints Ajay Banga as member of the Advisory Committee for Trade Policy and Negotiations
United States (US) President Barack Obama has appointed Indian CEO Ajay Banga as member of the Advisory Committee for Trade Policy and Negotiations (ACTPN). ACTPN is the US president’s private-sector advisory panel on international trade and helps him to coordinate trade related policies and resolve disagreements.
India ranked second last in Intellectual Property Index
India has improved its rank marginally on the intellectual property (IP) index released by the US Chamber of Commerce. The US body has moved India to the second last place from rock bottom in its ranking order last year. The annual IP index, which this year ranked a total of 30 countries on a series of indicators reflecting their IP environment, had put India at the bottom in the first two years. This year, Thailand has been ranked at the last place while US retains the top spot.
Justice MM Das to head Commission of Inquiry probing Chit Fund Scam
Odisha government appointed Justice Madan Mohan Das to head the Commission of Inquiry probing multi-crore chit fund scam in Odisha.The post was vacant after the death of Justice Radha Krishna Patra on January 28.
Kolkata has become India’s first Wi-Fi-enabled metro city as the service was launched from Park Street in city. This 4th Generation (4G) free Wi-fi service was launched by West Bengal Chief Minister Mamata Banerjee. Free Wi-fi service will be will be rolled out in phased manner in all the wards under Kolkata Municipal Corporation (KMC) as well as adjacent areas of Kolkata. The whole city is expected to come under Wi-Fi coverage by mid-April in 2015. Private telecom operator, Reliance Jio is providing the 4G enabled service Wi-fi in the city.
Alibaba dials into India mobile payments with Paytm stake
Ant Financial Services Group, an affiliate of China’s largest e-commerce firm Alibaba Group Holding Ltd, has agreed to buy a 25% stake in One97 Communications Ltd, which owns mobile payment platform Paytm, in a move to tap the mobile payments business in a market where the lines between telcos, banks, retailers, and so-called e-wallet companies such as One97 are set to blur. The companies did not disclose the value of the transaction. Two people familiar with the investor’s plans said it may purchase a controlling interest in One97 two years down the line, contingent to Paytm meeting certain performance milestones. Neither of the two wished to be identified.
Jan Aushadhi to facilitate buying 504 low cost generic medicines from July
The union government will obtain medicines in bulk, from both public and private drug manufacturing companies, covering some 504 essential medicines, and launch its own Jan Aushadhi brand that would sell these low-cost generic medicines. The Indian pharmaceutical market, which has a turnover in excess of Rs. 87,000 crore annually, is dominated by branded medicines, which our doctors prefer to prescribe. It has been found that generic medicines, as against the branded product, are definitely cheaper and effective for use by patients. But, shops selling these generic equivalents of the brands are few and far between. Indian formulations for supplies to overseas drug makers have been going on for decades and export is a money spinner for these companies in India.
India among top 3 nations generating most billionaires
India has for the first time managed to find a place among the top three countries generating most number of billionaires in the world with Reliance Industries' Mukesh Ambani, heading the Hurun Global Rich List-India 2015 of wealthiest in the country. The India list gives details of the richest people in the country with a cut off wealth of Rs. 6,000 crore. Mukesh Ambani with a a wealth of Rs.1.2 lakh crore tops the list among billionaires in the country, followed by Dilip Shanghvi of Sun Pharma with an estimated wealth of Rs. 1.02 lakh crore.
Sanjeev Kaushik takes over as Executive Director of IIFCL
Sanjeev Kaushik, a 1992 batch IAS officer of the Kerala cadre, has taken over as Executive Director of India Infrastructure Finance Company Ltd ( IIFCL). Kaushik was handling Financial Markets in the Department of Economic Affairs prior to joining the company. He was handling policy and regulatory matters relating to capital markets. He was Member Secretary of the Committee to liberalise depository receipts, Member of the SEBI Committee on harmonisation of portfolio flows and regulatory matters relating to capital markets. He was Member Secretary of the Committee to liberalise depository receipts, Member of the SEBI Committee on harmonisation of portfolio flows and also of the SEBI Committee on disclosure and accounting.
HDFC Bank raises Rs 9,800 cr via QIP, ADR
HDFC Bank, one of the leading private sector banks in India, on Thursday raised nearly Rs 9,800 crore through a combination of foreign and domestic offerings. The fund-raising was aided by the government's recent clearance for foreign investors to invest in the bank. HDFC Bank had a shareholder permission to raise up to Rs 10,000 crore through issue of shares. On Thursday, the bank raised about Rs 7,800 crore through an American depositary receipt (ADR) offering on the New York Stock Exchange where it is already listed. It offered 2.2 crore ADRs at $57.76 each, with each depositary share representing three shares of the bank. It also sold about 1.87 crore new shares in the domestic market at Rs 1,067 per share, aggregating to Rs 1,985 crore through a qualified institutional placement (QIP) offering that was oversubscribed over four times.
Anil Goswami removed, L.C. Goyal new home secretary
Rural development secretary L.C Goyal, a 1979-batch Indian Administrative Service (IAS) officer of Kerala cadre, has been appointed as the next home secretary. Home secretary Anil Goswami resigned on Wednesday after government asked him to put in his papers in the wake of controversy over his alleged attempt to stall the arrest of Saradha scam accused Matang Sinh, a former Congress minister at the centre. Official sources said Goswami who turned 60 last month and would have continued till 30 June was asked to resign after which he submitted his resignation. The sources which earlier said Goswami was removed later conveyed to the media that he was allowed to resign to give a “dignified” exit.
Anail Baijal Panel to suggest a framework to assess CSR activities
Government constituted a Anail Baijal panel to suggest a framework to assess Corporate Social Responsibilities (CSR) activities. The panel will evaluate money spent on CSR activities by the companies and will also give suitable methodologies for monitoring compliance of the CSR provisions.
US President appoints Ajay Banga as member of the Advisory Committee for Trade Policy and Negotiations
United States (US) President Barack Obama has appointed Indian CEO Ajay Banga as member of the Advisory Committee for Trade Policy and Negotiations (ACTPN). ACTPN is the US president’s private-sector advisory panel on international trade and helps him to coordinate trade related policies and resolve disagreements.
India ranked second last in Intellectual Property Index
India has improved its rank marginally on the intellectual property (IP) index released by the US Chamber of Commerce. The US body has moved India to the second last place from rock bottom in its ranking order last year. The annual IP index, which this year ranked a total of 30 countries on a series of indicators reflecting their IP environment, had put India at the bottom in the first two years. This year, Thailand has been ranked at the last place while US retains the top spot.
Justice MM Das to head Commission of Inquiry probing Chit Fund Scam
Odisha government appointed Justice Madan Mohan Das to head the Commission of Inquiry probing multi-crore chit fund scam in Odisha.The post was vacant after the death of Justice Radha Krishna Patra on January 28.
thank u team PM :)
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