PM Narendra Modi launched UPI based mobile payment app called BHIM
Prime Minister Narendra Modi launched ‘BHIM App’ (Bharat Interface for Money) which he claimed would make digital transactions easy for the common man. The BHIM app, Modi said, was named after Babasaheb Ambedkar, speaking at the Digi Dhan Mela at Talkatora Stadium in New Delhi.
- BHIM is a biometric and rebranded version of UPI (Unified Payment Interface) and USSD (Unstructured Supplementary Service Data). It is expected to minimise the role of plastic cards and point-of-sale machines, once believed essential for a less-cash society.
Govt proposes setting up financial data management centre
A government appointed panel has suggested setting up a financial data management centre (FDMC) for managing the repository of financial regulatory data to ensure stability in the economy.
- The Committee, headed by Ajay Tyagi (additional secretary in finance ministry), has submitted its report and a draft bill titled ‘The financial data management centre bill 2016’.
Health Ministry, AIIMS to set up National Death Registry
The Union Health Ministry, in collaboration with AIIMS, will come up with a National Death Registry.
- The registry will contain data about deaths, including causes, from hospitals across the country.
MeitY teams up with CAIT to train retail merchants
The Ministry of Electronics and Information Technology (MeitY) has decided to team-up with Confederation of All India Traders (CAIT) to further promote digital payments among the retail community.
India to make special arrangement for Nepal on replacing defunct currency notes
With the deadline set by the Indian government to exchange old notes in denominations of Rs.500 and Rs.1,000 expiring on December 30, 2016, India has said that it will make “special arrangements” for Nepal to replace all demonetised bills.
India to supply additional 80 MW power to Nepal from January 1
India will supply an additional 80 MW of power to Nepal from January 1, which will increase the total total transmission of electricity to the neighbouring nation to 400 MW.
Bihar government announces 50 % reservation in judicial services
The Bihar Cabinet on Tuesday declared 50 per cent reservation in all judicial services for aspirants belonging to the Extremely Backward Classes, Other Backward Classes, Scheduled Castes and Scheduled Tribes.
- The reservation will be in both Superior Judicial Services and Subordinate Judicial Services.
Madhya Pradesh plans to develop 1,100 ‘climate-smart’ villages
Madhya Pradesh has embarked on an ambitious plan to develop 1,100 ‘climate-smart’ villages with an aim to prepare farmers to manage the climate change risks timely and ensure good productivity.
Arunachal CM Pema Khandu suspended from PPA
Arunachal Pradesh Chief Minister Pema Khandu was temporarily suspended from Peoples’ Party of Arunachal along with six other lawmakers for alleged anti-party activities.
Interest rate options in India from Jan 31: RBI
In a bid to further develop India’s debt markets, the Reserve Bank said trading of interest rate options will be permitted from January 31, 2017.
- Interest Rate Options will be be effective from January 31, 2017 on exchanges authorised by Sebi as well as in the Over-the-Counter (OTC) market.
RBI extends timeline to load Rs 20,000 in mobile wallets
On November 22 the Reserve Bank had doubled the balance that can be kept in prepaid wallets and cards to Rs 20,000. The regulator had also said that merchants can transfer up to Rs 50,000 per month from semi-closed prepaid payment instruments to their bank accounts. These relaxations which were earlier applicable till December 30 have now been extended till the central bank completes reviewing the guidelines for pre-paid payment instruments (PPIs).
State Bank of India ties up with Magicbricks.com
State Bank of India has tied up with online classifieds portal magicbricks.com, to conduct joint marketing activites and help rejuvenate the real estate sector.
- To kick start the MOU, SBI and Magicbricks are launching the “Seal the Deal” campaign. Under Seal The Deal, SBI and Magicbricks will be hosting a mega online property show for SBI Approved Projects. This will be the first housing carnival in the industry at this scale.
BoB signs MoU with HFL to provide dairy loans to farmers
State-run Bank of Baroda and Heritage Foods Ltd (HFL) today signed a Memorandum of Understanding to provide dairy loans to farmers through the lender’s branches across the country.
Ambuja Cement, ICICI Bank enter into partnership to boost cashless trade
Ambuja Cement has tied up with ICICI Bank to drive cashless transactions among its business partners — retailers, contractors and masons — and help them open current accounts for regular business transactions.
Ranveer Singh becomes new face of Thums Up campaign
Coca-Cola India has signed Bollywood actor Ranveer Singh as brand ambassador for its Thums Up brand.
Rishi Kapoor’s autobiography to be out in January 2017
Veteran actor Rishi Kapoor, who is known for his brazen honesty in the real as well as virtual world, is looking forward to the release of his autobiography titled “Khullam Khulla” in January next year.
Amul’s ‘India 3.0’ book launched
Romania gets new PM Sorin Grindeanu
Beipanjiang bridge, the world’s highest at 1,854 feet, opens in China
The world’s highest bridge has opened to traffic in China, connecting two provinces in the mountainous southwest and reducing travel times by as much as three-quarters. The Beipanjiang Bridge soars 565 metres (1,854 feet) above a river and connects the two mountainous provinces of Yunnan and Guizhou.
Alibaba to soon open its first India office
Alibaba, largest e-commerce entity in China, is setting up its first India office in Mumbai, apparently an indication that it would step up investment in the country in the coming year, to capture a pie of the growing e-commerce market here.
Sathish clinches sixth consecutive gold
Olympian Sivalingam Sathish Kumar of Railways won the gold for the sixth consecutive year in the men’s 77kg category at the 69th men and 32nd women senior National weightlifting championships