General Knowledge March 18th 2015 (2015-03-18)

Government to reduce stake in PSB’s to 52%

The Government will bring down its holdings to 52% in a phased manner in Public Sector Banks(PSB’s) to ensure that capital needs of the bank are met.

New Mobile app to transfer money by HDFC

HDFC launched a new mobile app that lets its customers transfer up to Rs. 5000 per transaction to any contact in its phone book. This service is available 24 hours a day. Kochi based MobME has developed the service for HDFC.

Wipro to invest $5 million in Drivestream Inc.

Wipro has signed a strategic agreement with Drivestream Inc. to build an integrated cloud solution platform for its customers. As part of this, wipro will invest $5 million through its venture fund arm Wipro Ventures.

Mary Kom to be Brand Ambassador of North East

Mr Jitendra Singh from the  Minister of State in the Ministry of Development of North East Region (DoNER) said that Olympic medal winning boxer MC Mary Kom is being appointed as the brand ambassador of the Northeast.

Black Money Bill proposes 10 years Jailterm

The Union cabinet approved the bill to deal with black money stashed away overseas. 300% of the tax avoided will be the fine, in addition to 10 years of imprisonment.