26 July 2017 Current Affairs

Aurionpro launches a Bank in a Box product, VTM

Aurionpro Solutions a global leader in digital innovation, enterprise security and banking solutions, announced its Branch-in-a-Box product, the Virtual Teller Machine (VTM) a fully integrated self-service kiosk for automating 90% of banking transactions at the branch level. The VTM helps in migrating routine transactions like eKYC, account opening, passbook and statement printing, video assistance, bill payment, cash and cheques (single and bunched) deposit, cheque account summary, cash withdrawal, personalised instant card issuance, activation and replacement from the branch to the teller machines.

Union Home Minister chairs first meeting of IDA

The Union Home Minister Shri Rajnath Singh chaired the first meeting of the newly constituted Islands Development Agency (IDA). The Union Home Minister presented the vision for developing India’s maritime economy while preserving the natural eco-system and addressing the security concerns. He emphasized upon the need for sustainable development of Islands with people’s participation. After detailed consultations with key stakeholders, 10 islands namely Smith, Ross, Aves, Long and Little Andaman in Andaman & Nicobar and Minicoy, Bangaram, Suheli, Cherium and Tinnakara in Lakshadweep have been identified for holistic development in the first phase. With this meeting, the efforts for holistic development of Islands of India received a major boost.

26 July: Nation celebrates Kargil Vijay Diwas

The country is celebrating the 18th Anniversary of ‘Kargil Vijay Diwas’ today. On the occasion, Defence Minister Arun Jaitley and three Chiefs of Services will lay floral tribute at Amar Jawan Jyoti, India Gate. Kargil Vijay Diwas is celebrated on 26 July, commemorates India’s emphatic victory against Pakistan and honors the war heroes. On this day in 1999, the Indian Army successfully took control of posts at a treacherous high altitude and glaciated terrain across the Himalayas in the Ladakh region of Jammu and Kashmir, after fighting for 60 days.

StanChart unveils forex card

Standard Chartered Bank has launched a Multi-currency Forex Card for overseas travelers. The card will allow customers the convenience of loading up to 20 widely used currencies on one card with an online reload facility during overseas travel. The card will offer travelers protection against the frequent currency fluctuations by locking in the currency exchange rate they availed during the time of loading the card, and not pay different rates every time they use the card.

RDEL launches two NOPVs Shachi and Shruti at Pipavav

The Reliance Defence and Engineering Limited (RDEL) launched the first two Naval Offshore Patrol Vessels (NOPVs) Shachi and Shruti at their shipyard in Pipavav, Gujarat. These vessels are part of a five ship project being constructed for the Indian Navy. The main aim of NOPVs is to undertake surveillance of the country’s vast Exclusive Economic Zone (EFZ).

Researchers generate human antibodies in the lab

A team of scientists developed a method to rapidly produce specific human antibodies in the laboratory. The revolutionary technique could speed the production of antibodies to treat a wide range of diseases and facilitate the development of new vacancies. Antibodies are produced by the body’s B cells to fight off infections by bacteria, viruses, and other invasive pathogens. When an individual B cell recognizes a specific pathogen-derived “antigen” molecule, it can proliferate and develop into plasma cells that secrete large amounts of antibody capable of binding to the antigen and fending off the infection.

Right to Education is Right to Quality Education says SC

The Supreme Court quashed the regularisation of 1.78 lakh Shiksha Mitras as teachers in Uttar Pradesh (UP) or not holding adequate qualification as fixed under Right of Children to Free and Compulsory Education Act, 2009. A bench of Justices AK Goel and UU Lalit ruled that their jobs could not be regularised at the cost of fundamental right of children to free quality education by duly qualified teachers. It ruled that Right to Education means to right to quality education. The court held that appointment of Shiksha Mitras was not as per qualification prescribed for a teacher and they could not be regularized as teachers.

Madras HC makes Vande Mataram mandatory in schools, private & govt offices

The Madras High Court ruled that Vande Mataram should be sung in all schools and colleges across Tamil Nadu atleast once in a week and in government and private offices atleast once in a month. while issuing order, Justice MV Muralidharan stated that to instil a sense of patroitism in each and every citizen of Tamil Nadu, the National song ‘Vande Mataram’ shall be played and sung in all educational institutions atleast once a week, preferably on Monday and Friday.

Michael Kors buys Jimmy Choo for USD 1.5 billion

Global fashion luxury brand Michael Kors announced to buy global luxury footwear and accessories brand Jimmy Choo for approximately USD 1.2 billion. With this, Michael Kors aims to this coveted global brand to its lot as its own handbag and accessories sales suffer. The transaction was approved by the Boards of Directors of both Michael Kors and Jimmy Choo.

BRICS Youth Forum opens in Beijing

The 2017 BRICS Youth Forum opened in Beijing, China to discuss the development of the youth in the countries of the grouping. The theme of three-day forum is ‘Enhance BRICS Partnership, Promote Youth Development’. It gathered 50 youth representatives working as civil servants, scholars, entrepreneurs, artists and journalists from the BRICS countries. The five BRICS countries – Brazil, Russia, India, China and South Africa – first came up with the idea of establishing a dialogue mechanism for BRICS youth in 2014 during a meeting between BRICS leaders in South Africa.

Google CEO Sundar Pichai joins Alphabet Board of Directors

Google CEO Sundar Pichai, who has led the company for the past two years, is joining the board of directors of Alphabet, Google’s parent company. The move represents a vote of confidence in Pichai, who has led Google through a period of sustained growth. Alphabet shares have risen by more than 50% since Pichai, following a lighting fast ascent through Google’s managerial ranks, became CEO of Google in August of 2015. Google accounts for the vast majority of Alphabet’s revenue and virtually all of its profits. Alphabet is the second most valuable U.S. company behind Apple. Pichai is best known for doubling down on Google’s commitment to artificial intelligence, which has led to a long list of improvements for Google’s consumer and enterprise services. Pichai becomes the fifth insider to join the Alphabet board, which now has 13 members.

Madhubala to join Bollywood brigade at Delhi’s Madame Tussauds

Madhubala, who is known as one of the most iconic female celebrities in Hindi Cinema, is the latest to join the ranks of Bollywood celebrities, who will have their wax figures at Madame Tussauds, which is scheduled to open later this year in Delhi’s iconic Regal Building. The yesteryear actress’s wax figure will be styled based on her character of the doomed coutesan, Anarkali from the magnum opus, Mughal-E-Azam. The role of Anarkali is said to be the greatest one that Madhubala has ever played, at a time when her health was deteriorating rapidly.

Yatra acquires Air Travel Bureau

Yatra Online Inc, India’s second-largest online travel operator, has acquired corporate travel service provider Air Travel Bureau (ATB). ATB is India’s ‘largest corporate travel services provider’ with gross bookings of Rs 1,500 crore and a client base of 400 companies in the country. Yatra has agreed to acquire all of the outstanding shares of ATB and assume its debt. The debt amount has not been disclosed. ATB specialises in corporate travel management, MICE operations and leisure tourism. Its web site says it has been in this business for 54 years with a pan-India presence through a team of over 700 travel experts.

Janalakshmi Financial Services appoints TPG’s Ajay Kanwal as CEO

Gearing up for the launch of their small finance bank, Janalakshmi Financial Services (JFS), the largest microfinance company, has announced the appointment of its new CEO Ajay Kanwal. Kanwal, a veteran banker having 27 years of experience in both consumer and commercial banking sector, will take charge of office from August 1. V. S. Radhakrishnan, the current CEO, will take over as Vice-Chairman and R. Srinivasan, the current Vice-Chairman, having reached the age of superannuation, will retire but will continue his association with Janalakshmi.

Sidbi starts merchant banking operations for MSMEs

Small Industries Development Bank of India (SIDBI) has started full-fledged merchant banking operations to benefit the expanding number of growth-oriented micro, small and medium enterprises (MSMEs), especially those with a strong technology and innovation quotient. The initiative is aimed at enhancing the access of MSMEs to the capital markets, including the SME Trading Platform and Institutional Trading Platform.

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