RBI has allowed a one-time restructuring of debt up to ₹ 25 Cr for the companies which have defaulted on payment, but the loans have classified as standard assets. It will help MSMEs which are facing cash crunch due to demonetisation & GST implementation.
The restructuring has to be implemented by 31st of March 2020.
ISRO has launched Samwad with Students as part of its outreach programme. The Indian Space agency would engage youngsters across the country in activities concerning space science under this programme.
ISRO Chairman is Dr. K Sivan.
The government has appointed Hemant Bhargava as the Acting Chairman of LIC. Presently, He is the Managing Director of LIC and he replaced V K Sharma. He set up a new joint venture in collaboration with the banking industry & founded LIC Cards Services Ltd.
Apart from Bhargava, there are two more MDs of LIC currently.
US & Israel officially quit UN's educational, scientific & cultural agency. UNESCO has been denounced by its critics as a crucible for anti-Israel bias. The withdrawals will not impact UNESCO financially, it has been dealing with funding slash since 2011.
The Director General of UNESCO is Audrey Azoulay.
Allahabad Bank and SBI Life Insurance came together and signed a bancassurance pact, to offer a holistic financial planning solution to consumers. This will empower the consumer to address their complete financial needs under one roof.
MD & CEO of Allahabad Bank - Mallikarjuna Rao.
The CCI has appointed Pramod Kumar Singh as its secretary. He was adviser (law) to the competition watchdog. He would act as the nodal officer for the Commission for making or receiving all statutory information and entering the any formal relationships.
Competition Commission of India was established in 2003.
NHAI is gearing up to monitor traffic using cloud-based system across toll plazas. It will send automatic alerts to concerned parties for immediate solutions. Automatic alerts like SMS, calls/ emails will be sent to authorities to find requisite solutions.
NHAI promoted use of RFID based technology FASTags.
Paytm Payments Bank Ltd has resumed Know Your Customer process as well as onboarding new customers after receiving a formal nod from the Reserve Bank of India. PPBL aims to acquire 100 million additional customers by the end of 2019.
Satish Gupta is the MD and CEO of Paytm Payments Bank.
Google unit won approval from the FCC to deploy a radar-based motion sensing device known as Project Soli. Now Google can operate the Soli sensors at higher power levels than currently allowed. And the sensors can also be operated aboard aircraft.
HQ of Federal Communications Commission is in Washington DC.
Andhra Pradesh got a separate High Court and the court is being temporarily housed in the Chief Minister’s camp office, Vijayawada. Justice Chagari Praveen Kumar was sworn in as the first Chief Justice of Andhra Pradesh High Court.
Thottathil B Radhakrishnan took over as 1st CJ of Telangana HC.
According to the Growth Outlook for 2019 of CII, a settled GST, improving credit availability and capacity expansion from increasing investment in infrastructure are among seven key drivers that will help Indian economy grow 7.5% in 2019.
RBI expects India’s economy to grow 7.4% in 2018-19.
Veteran Actor-writer Kader Khan has died in Canada due to a prolonged illness. He was 81. He made his acting debut in 1973 with Rajesh Khanna’s Daag & he was synonymous with comic roles. He also wrote dialogues for over 250 movies.
He was a civil engineering professor before coming to act.