Govt has appointed Devesh Srivastava as the Chairman &MD of General Insurance Corporation of India. Srivastava succeeds Alice Vaidyan who retired in July 2019. Govt appointed Malay Kumar Poddar as chairman &MD of Agriculture Insurance Corporation of India.
GIC Re accounted for about 60% of premiums during FY 17.
Fitch Ratings has cut India’s GDP growth forecast for FY 20 to 4.6% on a deterioration in business & consumer confidence. It stated that growth will recover to 5.6% in FY21 & 6.5% in the following year with support from easing monetary & fiscal policy.
Moody’s slashed India GDP forecast to 4.9% for FY 20.
Former world champion, weightlifter Saikhom Mirabai Chanu won the women's 49kg category gold medal at the 6th Qatar International Cup in Doha. Chanu bagged gold with an effort of 194 kg in the Olympic qualifying event.
Mirabai Chanu hails from Manipur.
Noted archaeologist R. Nagaswamy was honoured at the Silver Jubilee International Conference of Art in Dhaka. He was honoured for his contribution to art, archaeology, history, and culture. In 2018, he was awarded Padma Bhushan.
He served as the founder-Director of the TN Archaeology Dept.
ADB & GoI signed a $490 mn loan for PPP to upgrade 1600 km of state highways & dist roads from single lane to 2-lane widths in MP. GoI will release 60% of total cost during construction & remaining 40% is arranged in the form of equity & commercial debt.
Since 2002, ADB has provided 5 loans to MP for its road network.
Ethiopia launched its first satellite into space. The satellite was designed by Chinese & Ethiopian engineers. The satellite will be used for weather forecast & crop monitoring. The African Union adopted a policy on African space development in 2017.
Ethiopia: President - Sahle-Work Zewde; Capital – Addis Ababa.
International Cricket Council announced that it has extended its partnership with UNICEF through to the ICC Women’s T20 World Cup 2020 with the focus on empowering women and girls through cricket. The programme will run for 12 months.
ICC and UNICEF partnership commenced in 2015.
Abhinav Lohan lifted PGTI title at the Bengaluru Open golf championship. It was Lohan's first title on the TATA Steel PGTI and second win of the year. He became the fourth Indian golfer to register his maiden title on the TATA Steel PGTI.
Bogey, double-bogey, birdies are words related to Golf.
HDFC Bank Ltd crossed $100 bn market capitalization in intraday trading, becoming only the 3rd company in the country. HDFC Bank ranks 26th among most valued banks & financial companies that have a market capitalization of more than $100 bn.
CEO of HDFC Bank - Aditya Puri
Nationalist Congress Party's Kerala State President and former Minister Thomas Chandy passed away in Kochi due to cancer. He was the Member of Legislative Assembly from Kuttanad constituency. He was 72.
Kerala: CM - Pinarayi Vijayan; Governor - Arif Mohammad Khan.
CARE Ratings Managing Director Rajesh Mokashi tendered his resignation.T N Arun Kumar will continue to act as the interim chief executive officer of the company. Mokashi was sent on leave by the company in July.
CARE Ratings founded in the year-1993
Shipping Corporation of India announced that Harjeet Kaur Joshi Director (Finance) and holding Additional Charge of the post of Chairman and Managing Director,assumed as full-time Chairperson & Managing Director (CMD), Shipping Corporation of India.
Shipping Corporation of India, Headquarters: Mumbai.
Chuck Peddle, one of the most important engineers of the early home computing era, has died at the age of 82. He's best known as the lead designer for MOS Technology's 6502, a low-cost processor (just $25 in 1975).
Peddle left the MOS team in 1980
PNB Housing Finance has appointed CH. S. S. Mallikarjuna Rao as Non-executive Director (Nominee Director of Punjab National Bank). Rao is MD and CEO of Punjab National Bank (PNB).
Sanjaya Gupta is the MD & CEO of PNB Housing Finance.