Board of LIC of India has approved the proposal to buy 51% shares in the IDBI Bank.
IDBI get a capital support of ₹10,000- 13,000 crore.
IDBI Bank’s financial health has deteriorated with yearly loss widening to ₹8,238 crore in FY18 from ₹5,158 crore in FY17.
Establishment
IDBI: July 1, 1964
LIC: September 1, 1956
LIC & IDBI Headquarters: Mumbai
J&K government has abolished interviews for all Class-IV posts in the state.
Selection will now be based on the merit secured in the written examination.
The decision will ensure transparency, fairness, accountability and equitable opportunities of employment to aspiring youth of the state.
J&K Governor: Narinder Nath Vohra
Flipkart-owned digital payments start-up PhonePe has acquired Zopper Retail, a hyper local point-of-sale platform for small and medium businesses.
As a part of the acquisition, Neeraj Jain, founder-CEO, Zopper will join PhonePe team as head of product.
CEO PhonePe: Sameer Nigam
CEO Flipkart: Kalyan Krishnamurthy
Britannia Industries Ltd. (BIL) has unveiled its largest greenfield manufacturing facility in the country at Guwahati in Assam.
Entailing an investment of ₹170 crore, the unit would produce an array of BIL products to cater extensively to Assam and the northeast.
BIL Chairperson: Nusli Wadia
Headquarters: Bangalore
Ministry of Steel has agreed to the proposal of Central Public Sector Enterprises (CPSE) under its control to introduce the pension scheme.
Agreement was reached after detailed consultation with representatives of employees unions and officers associations belonging to SAIL, RINL, MSTC, FSNL, MECON and KIOCL.
Union Minister of Steel: Chaudhary Birender Singh
Online grocery firm Grofers will enter the Fast Moving Consumer Goods segment and is eyeing an overall revenue of ₹2,500 crore in FY19.
Grofers Founders: Albinder Dhindsa, Saurabh Kumar
Headquarters: Gurugram
FMCG is the 4th largest sector in the Indian economy Household & Personal Care (50% ), Hair care (23%) & Food & Beverages (19%) of the overall market.
Uttarakhand will get a CBSE training centre, which will be opened in state capital Dehradun.
Government had sanctioned an amount of Rs 20 crore.
Training centre helps teachers & principals to enhance their understanding of curriculum & delivery mechanism & other professional qualities.
Uttarakhand CM: Trivendra Singh Rawat
Chairperson of CBSE: Anita Karwal
The government has doubled import duty on more than 50 textile products — such as jackets, suits and carpets — to 20%, a move that is aimed at promoting domestic manufacturing.
CBIC has also raised the ad-valorem rate of duty for certain items.
CBIC is a part of the Department of Revenue under the Ministry of Finance.
Chairman: Sh. S. Ramesh
According to Bloomberg Billionaires Index, Jeff Bezos founder & chief executive of Amazon, topped with 150 billion US Dollars, becoming world's richest person in decades.
Net worth of Jeff Bezos hit new peaks following the online retailer's Prime Day sale.
Amazon Founded on: 5 July 1994
Headquarters: Seattle, Washington, United States
Government has decided to form a committee to strengthen 2 institutions, NCC & NSS, under former education secretary Anil Swarup.
Committee will deal with issues like expansion, strengthening training infrastructure, rationalising resources, reducing manpower deficiency affecting NCC and NSS.
Minister of Youth Affairs & Sports: Col. Rajyavardhan Singh Rathore