Daily News

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RBI releases 2022 list of Domestic Systemically Important Banks (D-SIBs)

State Bank of India, ICICI Bank, and HDFC Bank continue to be identified as Domestic Systemically Important Banks (D-SIBs), under the same bucketing structure as in the 2021 list of D-SIBs. The additional Common Equity Tier 1 (CET1) requirement for D-SIBs was phased-in from April 1, 2016 and became fully effective from April 1, 2019.

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The additional CET1 requirement will be in addition to the capital conservation buffer.

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Magnus Carlsen and Bibisara Assaubayeva are the World Blitz 2022 champions

Norwegian Magnus Carlsen won both the World Rapid and World Blitz chess titles in Almaty, Kazakhstan.

He is now the holder of all three world chess championship titles – in Classical, Rapid and Blitz – for the third time in his career, while no other player has ever won both the Rapid and Blitz titles in the same year.

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3 grievance appellate panels to handle social media users' complaints; consultation on modalities soon

The government is considering three grievance appellate committees (GACs) to look into complaints by users against decisions of social media platforms, and consultations on various modalities of the panels will start in January.

Broadly, these appeals could be around complaints regarding sexually explicit content, misinformation, or religious incitement.

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Centre constitutes High Powered Committee to discuss measures to protect Ladakh's unique culture, language & employment

The Centre has constituted a High Powered Committee to discuss measures to protect Ladakh's unique culture, language and employment. It has been constituted under the Chairmanship of Minister of State for Home Affairs Nityanand Rai. The Committee will discuss the protections to Culture and Language considering the geographical location and strategic importance of Ladakh.

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India's factory activity rises to 13-month high in December

The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose to 57.8 in December from 55.7 in November 2022 , as business conditions improved in two years. The PMI average for the third quarter of the current fiscal year was the highest recorded in a year.

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DRDO celebrated its 65th Foundation Day on January 1st

Defence Research and Development Organisation is celebrating its 65th foundation day. It was on this day in 1958 when DRDO was formed to make India strong and self-reliant in terms of science and technology and especially in military technologies. A DRDO monograph ‘Infrared Signatures, Sensors and Technologies’ authored by Dr Kamal Nain Chopra, was released.

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Chairman, DRDO Dr Samir V Kamat

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InCred Capital acquires digital investment firm Orowealth in all-cash deal

InCred Capital has acquired Orowealth, a wealth technology startup, in an all-cash deal that enables it to enter retail wealth management. Orowealth, which has more than Rs 1,100 crore worth of assets under management (AUM), will be absorbed into InCred's new wealth-tech platform InCred Money.

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Croatia adopts euro, enters borderless Europe club

Croatia adopted the euro currency and entered Europe’s passport-free Schengen zone after a decade since joining the European Union. It became the 20th member of the eurozone. It will also be the 27th nation in the passport-free Schengen zone, the world’s largest, which enables more than 400 million people to move freely around its member nations. Kuna was the old currency.

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Trai recommends 10-year renewal for multi-system operators' registrations

The Telecom Regulatory Authority of India recommended the renewal of registration of multi-system operators, who are master cable operators, should be done for a 10-year period and the process fee kept at Rs 1 lakh. Ministry of Information and Broadcasting had asked TRAI recommendations on the matter, since the Cable Television Networks Rule 1994 did not have the provisions

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Google to partner with Indian Institute of Science for Project Vaani

Google plans to collaborate with the Indian Institute of Science (IISC) for project Vaani. Project Vaani aims to ensure the collected and produced data will be open-source. This collaboration is aimed to build an artificial intelligence/machine learning (AI/ML) model to collect and transcribe open-source speech data from across all of India's 733 districts.

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Tata AIA Life introduces Emerging Opportunities Fund with Ulips

Tata AIA Life Insurance has launched Emerging Opportunity Fund, which will invest in mid-cap companies and emerging market leaders with the potential to generate significant future growth. The investment objective of the Fund is to generate capital appreciation in the long term by investing in a portfolio of stocks that offer opportunities in the mid-cap space.

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India's first underwater metro worth over Rs 8000 crores to be operational by 2023

In a first, Kolkata will soon have India’s first underwater metro service. The Kolkata Metro Rail Corporation (KMRC) said that the East-West Metro Corridor project is expected to be completed by December 2023. The underwater metro which will run through the Hoogly river will be connecting Howrah and Kolkata and reduce the travel time from 90 minutes to 40 minutes.

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Ministry of Rural Development launches Prajjwala Challenge inviting ideas, solutions and actions to transform rural economy

With an aim to invite ideas, solutions and actions that can transform rural economy, the Deendayal Antyodaya Yojana - National Rural Livelihoods Mission has launched the Prajjwala Challenge. It is one of the platforms where ideas are invited from individuals,Social Enterprises, Start up, Private Sector, Civil Society, Community Based Organization, Academic Institutions etc.

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Punjab & Sind Bank board approves capital raising of upto ₹250 crore

The public sector lender announced that its board approved proposal for raising capital upto Rs 250 crore by various modes, including equity and bonds issuance. The funds will be raised in one or more tranches within a period of 12 months from the date of approval by way of issuance of these instruments, said the PSU bank. GoI's ownership stood at 98.25% as on 30 Sept 2022.

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Punjab & Sind Bank is a relatively small PSB, founded in 1908 in New Delhi.

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Railways rolls out energy efficiency plan to meet 2030 net-zero target

The railways ministry has rolled out a five-pronged energy efficiency plan to become carbon-neutral by 2030. The ministry is looking to reduce overall energy use with efficient operations and increase renewable energy usage. India, in its commitment to the United Nations Framework Convention on Climate Change, has set a target to become net zero by 2070.

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For the railways, the target year is 2030.