Daily News


SEBI panel to study option of direct overseas listings

SEBI has constituted an expert committee to examine the possibility of allowing unlisted Indian companies to directly list equity overseas while also allowing foreign companies to list directly on the Indian bourses.

Currently, Indian firms can only use the depository receipts route — American Depository Receipt (ADR) or Global Depository Receipt (GDR) — to list on overseas exchanges.

For foreign companies wanting to list on Indian exchanges, the Indian Depository Receipt (IDR) is the only option currently.

Did you Know

Chairman of SEBI- Ajay Tyagi
Headquarters - ‎Mumbai


RBI data on Non-Performing Assets

Out of Rs. 1,50,960-crore reduction in the non-performing asset (NPA) levels of Public Sector Banks over 2017-18, about 55% of this was due to write-offs and only 27% was actual recoveries.

Private sector banks saw a reduction of Rs. 46,091 crore in their NPA levels, of which about 40.2% of the reduction was due to write-offs.

The data also showed that bank frauds increased in both number and value over the last three years.

Did you Know

A ‘non-performing asset’ (NPA) is defined as a credit facility in respect of which the interest and/ or instalment of principal has remained ‘past due’ for a specified period of time.
Banks are required to classify non-performing assets further into the following three categories based on the period for which the asset has remained non-performing and the realisability of the dues as Sub-standard Assets, Doubtful Assets and Loss Assets.


Yes Bank reappoints Rana Kapoor as CEO

Yes Bank has reappointed Rana Kapoor as MD & CEO of the bank for a further period of three years effective September 1, 2018.

The bank has also appointed Subhash Chander Kalia as non-executive non-independent director,and Rentala Chandrashekhar and Pratima Sheory as independent directors for a period of five years.

Did you Know

YES Bank Headquarters- Mumbai
The bank was founded by Rana Kapoor and Ashok Kapur in 2004.


Odisha to launch Biju Swasthya Kalyan Yojana

The state government of Odisha will launch the Biju Swasthya Kalyan Yojana, to provide free healthcare to 70 lakh families in the state.

Under Biju Swasthya Kalyan Yojana, secondary and tertiary cashless healthcare assistance will be provide up to Rs 5 lakh per family per annum.

Transport assistance of Rs 500 to all pregnant women or infants visiting public health facilities will also be provided.

Did you Know

Odisha Capital- Bhubaneswar
Governor- Satya Pal Malik (In-Charge)
Chief Minister - Naveen Patnaik


Spiritual leader Bhaiyyuji Maharaj is no more

Spiritual leader Bhaiyyuji Maharaj was found dead with a gunshot wound.

He was instrumental in mediation talks between Anna Hazare and the UPA government during his anti-corruption fast in 2011.

He was also invited to break then Gujarat chief minister Narendra Modi’s fast in 2011.

Did you Know

His original name is Udai Singh Deshmukh.
He was a former model and worked as a marketing executive.


Central Railway to increase speed limit under Mission Raftaar

The Central Railway (CR) aims to increase the speed limit on seven key routes by the end of the financial year 2018-19.

The work is being carried on in two phases — Phase I will include increasing the speed limit of trains to 130 kmph, while the second phase will include increasing it to 160 kmph.

The estimated cost of the project is close to Rs 15,000 crores.

Did you Know

Mission Raftaar, which was announced in the railway budget of 2015-16, aims to increase the average speed of all non-suburban passenger trains by 25 kmph in the next five years.


George H W Bush becomes first US president to turn 94

George H W Bush became the oldest US president.

As president, Bush encouraged others to be “points of light,” reflecting his belief that people need to help out in their communities.

Did you Know

George H W Bush was the 41st President of USA.


Virat Kohli presented the Polly Umrigar Award

India skipper Virat Kohli received the Polly Umrigar Award at the 6th MAK Pataudi Lecture for his performances during the 2016-17 and 2017-18 seasons.

Did you Know

The Mansur Ali Khan Pataudi Memorial Lecture was started by the Board of Control for Cricket in India (BCCI) on 6 February 2013.
Polly Umrigar Award for international cricketer of the year is also presented by BCCI.


Nitesh Banga quits Infosys

Head of manufacturing Nitesh Banga has quit Infosys to join product engineering services company GlobalLogic.

Prior to this appointment, Banga was Senior Vice President & Global Head of the Manufacturing business at Infosys, as well as member of the board of their EdgeVerve software subsidiary.

Did you Know

GlobalLogic CEO - Shashank Samant
Infosys CEO- Salil Sathish Parekh


Long-term growth in commodity consumption to weaken- World Bank

World Bank predicts global demand growth of metals fall from 4.2% in 2010-16 to 2.8% in 2018-27, agricultural commodities fall from 2.8% to 1.8% in the same periods.

Possible consequences based on these predictions are:

1) Commodity importing nations will benefit, while commodity producers will lose;

2) Inflationary pressures from raw material and food prices will be limited; and

3) The crisis in agriculture is likely to get worse.

Did you Know

World Bank Headquarters- Washington, D.C., USA
President of World Bank- Jim Yong Kim