14th Inclusive Finance India Summit Begins in New Delhi
- The 14th Inclusive Finance India Summit has started in New Delhi today to create the consensus on strategies and a unified vision for achieving universal financial inclusion in India.
- “The summit offers a platform for a plethora of information to all the thought leaders and industry veterans to debate and discuss the issues and challenges involving the Financial Inclusion in the country, ” said Vipin Sharma, CEO Access Development Services.
- “Financial inclusion is not an option but a compulsion” Dr. C. Rangarajan, Former Governor, RBI said in his inaugural address highlighting the importance and need for financial inclusion in the country.
- A book- ‘Talking financial inclusion in liberalized India: Conversations with Governors of the RBI’, edited by Prof. MS Sriram was released during the inaugural session.
- HR Khan, Former Governor, RBI who was also attending the summit emphasized on the huge gap in the inclusion of the agriculture sector. Adding to the same, he said “Credit dimension for Agriculture and MSMEs is crucial and technology must focus on addressing this concern.”
4th India-Australia-Japan Trilateral Dialogue Held in New Delhi
- India, Japan and Australia on Wednesday has stressed their commitments to peace, democracy, economic growth and a rules-based order in the Indo-Pacific region during a meeting in New Delhi.
- On Tuesday, India and Australia held their inaugural “2+2” dialogue involving defence and foreign secretaries, to discuss ways to ensure a “free” and “open” Indo-Pacific region.
- The four-nation “quad” of major democracies, which met in Manila on the margins of the East Asia Summit, is also seen as the possible nucleus of a probable new security architecture in Asia. The four countries are expected to come together for naval drills in the near future with China warily eyeing the “quadrilateral exchanges,” and stating its hope that the group and its actions are not directed against Beijing.
- A statement from the Indian government on the India-Australia-Japan trilateral talks said the three countries “highlighted the growing convergence of their respective countries’ interests in the Indo-Pacific region and underscored their shared commitment to peace, democracy, economic growth and a rules-based order in the region”.
- “The three countries underlined their support for ASEAN (Association of Southeast Asian Nations) centrality in the political and security architecture of the Indo-Pacific region,” the statement said. The countries also stressed the need for greater collaboration in the area of maritime security, disaster response, and counterterrorism and strengthening regional connectivity, it added.
Union Cabinet Clears Bill Criminalising Instant Triple Talaq
- The Union Cabinet on Friday has passes the bill that criminalises the Islamic practice of instant triple talaq, that has been taken at the Winter Session of Parliament.
- “We welcome this, it was much needed.Unlike previous governments, this government cares for rights of Muslim women. Appeal to all parties to ensure passage of this bill in Parliament,” said Shaista Ambar of the All India Muslim Women Personal Law Board.
- Titled the ‘Muslim Women (Protection of Rights on Marriage) Bill, 2017’, the proposed law also gives a “victim” of Talaq-e-Biddat a right to seek maintenance from her husband before a magistrate’s court. She will also be entitled to her children’s custody, the draft law says.
- In August, the top court had struck down the custom as “arbitrary” and “unconstitutional” in a verdict that was hailed as a watershed moment for gender justice in India.
- A law ministry official, explaining the rationale behind the bill, said: “Before the judgement this year, there were 177 reported cases of Talaq-e-biddat. Since then, there have been 67. These are only reported cases; the actual figure could be much higher.”
Indian Diaspora is Largest in the World: World Migration Report 2018
- The Indian diaspora is the biggest in all over the world with the 15 million migrants from India living abroad, according to the World Migration Report 2018 published by the International Organisation for Migration, the United Nations migration agency.
- There has been the largest number of the migrants abroad, India also receives the highest amount in remittances ($68.91 billion). The largest migration corridor is from India to UAE, where 3.5 million Indians were residing in 2015.
- The United States remained the top destination for migrants in the world in 2015, with 46.6 million migrants moving to the US in that year. However, that was much before Donald Trump took over as president.
- A disturbing fact is that those under 18 years of age made up 51 percent of refugees in 2016.
11th WTO Ministerial Conference Held in Argentina
- The World Trade Organisation’s Ministerial Conference in Buenos Aires has been finished the US reneged on the commitment to give a permanent solution on public stockholding for developing countries. There has also be the some of the Doha development mandate in the proposed Ministerial Declaration, which was something, that was not acceptable to India and many other countries.
- New Delhi, however, said that it managed to protect all its defensive interests. “The US position on a permanent solution led to a collapse of the agriculture negotiations. When there could be no agreement on agriculture, the possibility of an overall declaration also declined. But our food security remains protected as the peace clause is intact,” a government official told Business Line.
- “Buenos Aires will be remembered as the fisheries conference. It is here that the talks that were deadlocked for 15 years got moving,” she said.
- “During MC11 India stood firm on its stand on the fundamental principles of the WTO, including multilateralism, rule-based consensual decision-making, an independent and credible dispute resolution and appellate process, the centrality of development, which underlies the DDA, and special and differential treatment for all developing countries”, according to an official release.
- “Development and inclusiveness must remain at the heart of our work. They certainly remain at the core of my priorities in everything we do,” WTO DG Roberto Azevedo said at a press conference at the end of the three-day meeting.
- “These groups are not just notable for their numbers, but for the diversity of the members involved: developed, developing and least-developed,” Azevedo said. The groups, however, are informal and do not have a negotiating mandate.
- The World Trade Organization is an intergovernmental organization that regulates international trade
- Headquarters: Geneva, Switzerland
- Purpose: Regulate international trade
- Founded: 1 January 1995
- Membership: 164 member states
- Formation: 1 January 1995; 22 years ago
- Official language: English, French, Spanish
Israel eases VISA procedure for Indians
- To promote the many of the Indians to visit Israel, Tel Aviv has simplified its visa application procedures for visitors from the Sub-continent.
- The relaxed visa rule include the less documentation for Indians who have availed of visas of Schengen countries, the US, Canada, Australia or Israel and have completed their travel to these countries, a statement from the Israeli consulate said on Thursday.
- “This is an initiative we have been working very closely with interior ministry and foreign ministry to introduce in India and I am happy to see this change for the Indian travellers who wish to travel to Israel,” Israeli tourism ministry India director Hassan Madah said.
- He said, “Easing the visa requirements will not only make the application process faster, it will also increase the number of tourists to Israel as well.”
- “We are also working on an express service with VFS, which will be introduced soon. In addition to this, we are working towards e-visa processing as well as easing the group visa process,” he added.
Dubai opens World’s first camel hospital
- Pristine operating theatres and state-of-the-art medical has been established at the new Dubai hospital that opened last week that is mainly for camels.
- There has been the saving of the heritage, that is the part of the Dubai Camel Hospital, which cost 40 million dirhams (US$10.9 million) and is the first of its kind in the world, said Mohamed Al Bulooshi, the hospital’s director.
- “We found that we must care for camels not only by breeding and raising them, but also by being able to medically treat them,” Bulooshi said.
- Its customised equipment has been taken from the equestrian medical equipment to accommodate camel treatment. A surgery starts at US$1,000 and an X-ray or ultrasound at US$110.
- The hospital intends to help in the research and development of camel medicine, Ahsan Ul Haq, the facility’s head of marketing and finance, in an effort “to unfold the secrets of this strange desert animal,” he said.
BANKING AND FINANCE
SBI Starts State Bank Rewardz Scheme
- There has been the reason to smile for the customer of the SBI. For, the State Bank of India which is the nation’s largest bank that has introduced a loyalty program for its valued customers. There has been the announcement by the State Bank Rewardz, the program gives the customers several opportunities to earn reward points and earn many times faster at Max Get More partner outlets. Thus, you can become a member of the State Bank Rewardz Loyalty Program and earn points every time you spend.
- State Bank Rewardz is the enterprise-wide loyalty program for State Bank customers that awards them for the reward with many of the points of the many banking services.
- State Bank Rewardz will reward you in multiple ways, which can lead you to your desired rewards as fast as possible. These reward points can be redeemed for full or partial payments to get products and services online as well as from Max Get More partner outlets.
- State Bank of India is an Indian multinational, public sector banking and financial services company
- It is a government-owned corporation with its headquarters in Mumbai, Maharashtra
- Customer service: 1800 425 3800
- Chairperson: Rajnish Kumar
- Headquarters: Mumbai
- Subsidiaries: SBI Cards, State Bank of Hyderabad,
RBI Imposes Rs 3 crore Penalty on IndusInd Bank
- The Reserve Bank of India (RBI) on Wednesday has reported the sum of the Rs3 crore penalty on private sector lender IndusInd Bank for not following the central bank’s rules on classification of bad loans.
- “The statutory inspection of the bank with reference to its financial position as on March 31, 2016 revealed, inter alia, violations of various regulations issued by RBI in the assessment of non-performing assets (NPAs) and extension of NFB (non-fund based) facilities,” the central bank said in a press release.
- The bank has given the report RBI’s notice, that has get on 10 August. However, after considering the bank’s submission, the RBI came to the conclusion that the charges were substantiated and warranted imposition of a monetary penalty.
- In another term the RBI had also imposed a Rs2 crore penalty on IDFC Bank Ltd for breaching regulations on giving loans. Some banks had reported a sharp divergence between their asset quality classification and provisioning for 2015-16, and what the RBI deemed necessary.
Science and Technology
Dinosaur with flesh and bones found in a small town of Uttarakhand
- Dinosaurs are the other things in the term of the clade Dinosauria. They had apeared before the Triassic period, between 243 and 231 million years ago, although the actual origin and timing of the evolution of dinosaurs is the matter of active research. This species had gone vanished from Earth nearly 65-million-years ago, the only way we can see them now is by animated graphics, but then here is the latest news that fired up the science department.
- It was not possible for a dinosaur skeleton to be so well conserved after so long, Aaryan Kumar, who is continuing a PhD in Paleontology from Delhi University, told local media. He said: “It looks like a dinosaur, but we can’t say anything until all the tests are done.”
- “But a dinosaur skeleton could not have been found in such a well-preserved situation after millions of ages without it being in a fossilized condition. The only slightly possible way is it was chemically preserved to save it in a repository. But if that was the situation, how did it end up here?”
Michael Jordan, World’s Highest-Paid Athlete of All Time
- When the retired Basketball player comes in the ground then there has been the total prize money earned through sport, Michael Jordan takes the top spot.
- In the recent, the released by Forbes, Jordan has been named as the highest-paid athletes of all time.
- The 54-year-old who has the keep of the $1.7 billion in the bank, thanks to his longtime endorsement relationships with Beverage Company Gatorade, clothing brand Hanes, American Sportswear giant Nike and playing card manufacturer Upper Deck.
- However, the investment that made Jordan a billionaire was his 90 percent stake in American professional basketball team Charlotte Hornets, which is now worth $780 million.
Longtime Rochester radio figure Kevin Meath dies
- Kevin Meath, a longtime fixture in Rochester radio, has died on Friday at the age of 64 years after being injured in a crash, according to the Monroe County Sheriff’s Office.
- “Kevin was a long time, dedicated club member and well known personality in the Rochester radio community,” the club said in an email to its members. “Kevin served as the president of the Rochester Press-Radio Club in 1991 and 1992 and contributed greatly to our organization. Kevin also carried on the tradition of his father’s charity.”
- “He had a Christmas gift for me, which was very sweet,” Savage said. “It was less of a sales meeting, than it was reminiscing. His longtime colleague, Jack Palvino, had been out to the station earlier this week. The conversation turned to that and Rochester radio history.
International Day to End Violence Against Sex Workers
- International Day to End Violence against Sex Workers has been celebrated every year on December 17 by sex workers, their advocates, friends, families and allies.
- In the starting there has been the some the Green River Killer in Seattle Washington, United States (US), it has evolved into an annual international event.
- The day has been selected because of the crimes committed against sex workers worldwide, as well as the need to remove the social stigma and discrimination that have contributed to violence against sex workers and indifference from the communities they are part of.
- Sex worker activists also state that custom and prohibitionist laws perpetuate such violence.