Union government appointed SS Mallikarjuna Rao, Managing Director and CEO of Allahabad Bank as the new Managing Director and Chief Executive Officer of Punjab National Bank. He will replace Sunil Mehta.
OBC and United Bank of India will merge with PNB
Novartis will combine its expertise in deep life sciences with Microsoft’s knowledge of artificial intelligence technology.The Collaboration will address research, clinical trials, manufacturing, operations and finance.
Novartis CEO- Vas Narasimhan
GoAir has successfully tested TaxiBot—a semi-robotic pilot-operated tow vehicle—at New Delhi's Indira Gandhi International Airport. TaxiBots will also ensure faster turnaround and result in better on-time performance.
GoAir currently operates 325 plus daily flights.
Kerala and Chandigarh emerged as the top performers in the school education quality index (SEQI) of all states and Union territories, government think tank NITI Aayog. NITI Aayog considered 2016-17 as the reference year for the index.
Jharkhand, Bihar, Telangana and Uttar Pradesh were the laggards.
Post office savings schemes or small savings schemes interest rates have been kept unchanged for the third quarter(Oct to Dec 2019).PPF- 7.90 per cent; Senior Citizens Savings Scheme (SCSS)- 8.60 per cent; Post office time deposits- range of 6.90 and 7.70.
Public Provident Fund, introduced by Ministry of Finance in 1968
The People’s Bank of China has approved PayPal’s acquisition of a 70% equity stake in GoPay, which will make PayPal the first foreign payment platform to provide online payment services in China.
Paypal CEO- Dan Schulman
Punit Goenka, MD & CEO, Zee Entertainment Enterprises, has been re-elected as the president of the India Chapter of the International Advertising Association (IAA). Megha Tata, MD, Discovery South Asia has been elected as vice president.
IAA Global Managing Director- Dagmara Szulce
SoftBank Group and Indian hotel startup Oyo have jointly acquired an 80% stake in Japanese rental apartment operator MDI. After the acquisition, Oyo plans to list some of the 37,000 rooms under MDI management on its Oyo Life room rental platform.
SoftBank CEO -Masayoshi Son
The International Day of Non-Violence is marked on 2 October, the birthday of Mahatma Gandhi, leader of the Indian independence movement and pioneer of the philosophy and strategy of non-violence.
Uzbekistan, Turkey issued stamps in memory of Mahatma Gandhi.
Economist Surjit Bhalla was appointed as the Executive Director for India at the International Monetary Fund (IMF). The Appointments Committee of the Cabinet (ACC) approved the appointment of Mr. Bhalla for a period of three years.
ACC is headed by Prime Minister of India