China launched its first communication satellite to provide broadband internet services worldwide in an apparent bid to rival Google and other international firms.It is the first in the Hongyun project planned by China Aerospace Science and Industry Corp.
The Hongyun project, started in September 2016.
According to the latest RBI data, Bank credit rose at a healthy 15.07 percent to Rs 92.03 trillion in the fortnight to December 7, while deposits grew 9.66 percent to Rs 118.84 trillion.In the year-ago fortnight, advances were at 79.98 trillion.
RBI Governor- Shaktikant Das
Odisha Chief Minister Naveen Patnaik announced a Rs. 10,000-crore the Krushak Assistance for Livelihood and Income Augmentation (KALIA) scheme for the overall development of farmers in the state.
KALIA will accelerate agricultural prosperity in the state.
The GST Council, headed by the finance minister in its 31stmeeting expressed confidence of meeting the fiscal deficit target of 3.3 per cent of GDP for the current fiscal despite revenue loss due to reduction in GST rates.
Finance minister of India- Arun Jaitley.
To expand its international footprint, IndiGo announced that it has entered into its first codeshare agreement with Turkish Airlines, allowing either of the airlines to book seats for its passengers on each other's flight.
IndiGo CEO- Rahul Bhatia.
The Competition Commission of India approved the acquisition of 26% stake by Hitachi Payment Services in SBI Payment Services. It also gave green signal to Ageas Insurance International’s acquisition of 40% equity share in Royal Sundaram General Insurance.
Devender Kumar Sikri- CCI Chairman.
Defence Minister Nirmala Sitharaman inaugurated the Information Fusion Centre (IFC) for the countries of the Indian Ocean Region (IOR) for information sharing and capability building, coordination of incident response and disaster relief is also covered.
The Navy has already signed the agreement with 21 countries.
India’s ranking improved two notches in the league table of the world’s biggest stock markets. Currently, India ranks 7th with a market cap of $2.1 trillion. At the end of 2017, India was at the 9th position despite its market cap being $2.4 trillion.
Ranking topped by USA followed by China.
The United Nations has granted permanent observer status to the Asian Infrastructure Investment Bank. Following a resolution passed by UN member states ,now it can observe the deliberations of both the General Assembly and the Economic and Social Council.
AIIB - Beijing-based multilateral development bank.
Govt. forms Committee to assess key challenges & suggest reforms in logistics development and associated commerce. Boosting trade and making India a simple and easy place for doing business are integral part of the economic priorities of the Government.
Chairman of the committee- Dr. Bibek Debroy, Chairman EAC-PM.
131st birth anniversary of Srinivasa Ramanujan celebrated as National Mathematics Day. His work has had a fundamental role in the development of modern mathematics.At the age of 31, he was one of the youngest members of Britain’s Royal Society.
He was the 1st Indian to be elected a Fellow of Trinity College.