Daily News

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Policy of deducting the pay of employees in Assam

The Assam government has decided to implement the policy of deducting the pay of employees who do not take care of their parents and physically-challenged siblings.

Changes in the service rules of employees will be made in accordance with the State Population Policy.

This will make people with more than two children ineligible for government jobs and election or nomination to the Panchayat and other local bodies.

Did you Know

Assam Capital- Dispur
Assam Chief Minister- Sarbananda Sonowal
Assam Governor- Jagdish Mukhi

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UNCTAD meeting in Geneva

The UNCTAD meeting of third inter-governmental group of experts on consumer protection to be held in Geneva.

The two-day session will focus on consumer protection in financial services, capacity building and technical assistance on consumer protection law, dispute resolution and redress.

The session will also deliberate on measures on protection of vulnerable and disadvantaged consumers.

Did you Know

UNCTAD headquarters- Geneva
Secretary-General - Mukhisa Kituyi
Union Minister for Consumer Affairs, Food and Public Distribution- Ram Vilas Paswan

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Micromax to revive its sub-brand Yu

Micromax Informatics Ltd., is planning to revive its sub-brand Yu.

To strengthen its market share in Tamil Nadu, Micromax also announced a tie-up with Clix Capital Services Pvt. Ltd., a new-age lending company, to offer an in-store mobile financing programme.

Did you Know

Micromax Informatics Ltd Headquarters- Gurugram, Haryana

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RBI cancels licence of Alwar Urban Co-operative Bank

The licence of Alwar Urban Co-operative Bank in Alwar, Rajasthan has been cancelled as it is not in a position to pay its depositors in full as and when their claims accrue.

The Registrar of Co-operative Societies, Rajasthan has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank.

Did you Know

Provisions of the Banking Regulation Act, 1949 provides for cancellation of the licence if the bank does not have adequate capital and earning prospects.

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United Bank to raise Rs. 1,500 cr. via equity

United Bank of India has announced raising of up to Rs. 1,500 crore by issuing equity shares in one or more tranches.

The capital raise will be in addition to the capital support granted by the government.

Did you Know

Union Bank of India Headquarters- Mumbai
Union Bank of India CEO- Rajkiran Rai G.
Union Bank of India tagline- Good People to bank with

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Thetford in Norfolk to be Amritsar’s twin city

Thetford in Norfolk, small town in the East Anglia region of England will become the twin city of Amritsar as it observes the 125th death anniversary of Duleep Singh, last Maharaja of the Sikh empire.

Elveden Manor in Thetford was home to the last Maharaja of Punjab for many years.

Did you Know

Amritsar is a city in Punjab
Famous for Golden Temple (Harmandir Sahib), gurdwara of the Sikh religion.

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Maharashtra to get two new dry ports

The Jawaharlal Nehru Port Trust plans to commission two dry ports at Wardha and Jalna in Maharashtra.

Around Rs. 400 crore will be spent on each of the ports.

JNPT has also decided to start similar dry ports in Nashik and Sangli.

Did you Know

A dry port will help logistics companies consolidate their operations and complete export and import procedures at inland locations that are closer to farms and factories.

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China’s elderly will double by 2037- UN

According to the UN, in just 20 years, the proportion of China’s elderly will double from 10 to 20 per cent (2017 to 2037) and rise as high as 44 per cent by 2050.

Old Dependency Ratio, which refers to the number of elderly population that every 100 people of working ages will take care of, now stands at 15.9.

Did you Know

Capital of China- Beijing
Preisdent- Xi Jinping
Currency- Renminbi

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UN Security Council debate on children and armed conflict

The UN Security Council will hold a high-level open debate on children and armed conflict with the theme “Protecting Children Today Prevents Conflict Tomorrow”.

It will be chaired by Swedish Prime Minister Stefan Lofven.

Did you Know

UNSC five permanent members: China, France, Russian Federation, the United Kingdom, and the United States.

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PSU banks plan to raise over Rs 50k crore equity capital

Public sector banks are planning to raise more than Rs 50,000 crore this fiscal to shore up their capital base for business growth and meeting regulatory global risk norms.

Out of 21 public sector banks, 13 have already taken the approval of their boards or shareholders for raising capital through the equity market.

Did you Know

As per the Rs 2.11 lakh crore capital infusion programme announced by the government in October last year, banks will get Rs 1.35 lakh crore through re-capitalisation bonds, and the balance Rs 58,000 crore through raising of capital from the market.