UPSSSC Current Affairs 2016 2017 GK Question Today

IIFC UK loans India Infrastructure

UPSSSC Current Affairs 2016 Employment News October Rojgar samachar Latest UPSSSC GK Question Toda  GK Update IIFC UK asked to increase loans to Indian firms government is pushing the UK arm of infrastructure financing firm India Infrastructure Finance Corporation to expand its portfolio to meet the increasing demand for dollar denominated loans from domestic companies amid a sharp fall in the rupee 2015-16


IIFC (UK) has a credit line of $5 billion from the Reserve Bank of India but it has disbursed only $1 billion so far against the gross sanctions of $5.7 billion till March 2013.

The financing firm was set up in 2008 with the objective of lending in foreign currency to infrastructure companies for funding their capital equipment imports. The firm plans to disburse about $1 billion in the current fiscal.

Virat Kohli Appointed As the Brand Ambassador of Border Security Force

Indian cricketer Virat Kohli was appointed as the brand ambassador of the Border Security Force (BSF)

It is important to note that any central force in India has appointed its brand ambassador.

BSF is the second largest paramilitary force of India that guards two crucial Indian borders with Pakistan and Bangladesh.

Virat Kohli was roped in for bolstering the appeal of 2.5 lakh personnel capable strong BSF.

BSF director general Subhas Joshi explained that he was appointed as the brand ambassador because his name (Virat) meant huge and symbolised the force.

Railways to go on  power trading in the open market within two months

Indian Railways plans to start trading in power in the open market within the next two months. The Railways will sell its surplus power during the day when its demand is low while tariffs are high and buy it back at night when the demand peaks and tariffs are low.

This move is expected to save the Railways about Rs 900-1,000 crore or 10% of its annual Rs 9,000-crore electricity bill.

Once the project takes off, Indian Railways will join the bandwagon of commercial open access consumers like SAIL and HPCL in public sector and the Tata group, Aditya Birla group and Reliance Industries Limited in the private sector.

The Railways requires around 3,000 MW annually, which is expected to go up to 4,000MW over the next decade.

In our discussion with REMC, we have suggested that the Railways should do phase-wise trading, starting with 100MW in states where it is most feasible," said Rajesh Mediratta, director (business development), India Energy Exchange (IEX), one of the country's largest power trading houses that had also played an advisory role in the formation of REMC.'

PepsiCo names Sanjeev Chadha as CEO, OF AMEA region

Beverage and snacks maker PepsiCo on Monday named company veteran Sanjeev Chadha as its CEO, Asia, Middle East and Africa (AMEA) region, effective immediately.

Chadha will report to chairman and CEO Indra Nooyi and oversee all aspects of PepsiCo's business in the AMEA region, the company announced from its headquarters in New York.

Chadha was president, PepsiCo Middle East and Africa, prior to the new role. Chadha has worked with PepsiCo for 23 years.

An Indian Institute of Management, Ahmedabad alumni, Chadha will continue to be based at PepsiCo's Dubai office.

Chadha was heading India operations for the period between 2007-11.

SBI stops discounting LCs issued by other banks

Country's largest lender, State Bank of India (SBI), battling a liquidity crunchits offices to stop discounting letters of credit (LC) other than those opened by SBI and its associate banks, which together command 25% of the local banking business.

The buyer's bank opens the LC and the seller's bank discounts it - a transaction where a small percentage is deducted by the seller's bank as processing charge, fees and interest cost before paying the seller.

Such trade finance facility assumes greater significance in a tight credit cycle and slow economy.

Since buyers typically take at least three to six months to cough up money and sellers are unwilling to wait that long, banks play a crucial role in financing both parties.

In an internal circular dated September 19, SBI informed branches concerned to discontinue discounting LCs opened by banks other than those issued by SBI and associates with immediate effect.

Tata Power signs pact with EESL for energy efficiency

Tata Power, country's largest private power generator, today said it has signed an agreement with EESL for energy efficiency and conservation initiatives.

EESL ( Energy Efficiency Services Ltd) is a joint venture of public sector units of the Ministry of Power.

Tata and EESL have signed an MoU (Memorandum of Understanding) to carry out collaborative activities and partnerships in the field of Energy Efficiency and Demand Side Management ( DSM), Tata Power said in a statement.

The MOU provides a framework and strategy for collaborative activities and partnership for energy efficiency and conservation, the statement added.

EESL is mandated by the government to be the lead implementing arm to create and sustain markets for energy efficiency.

Following this association, Tata Power will approach consumers duly supported by EESL and facilitate successful energy efficiency projects," Anil Sardana, Managing Director, Tata Power said.

Karnataka to launch two new venture funds to back young companies

The young companies fund will have a plus of 100 crore, with half the investments coming from the state and central governments. Private investors will provide the balance.

A separate fund of 20 crore will be set up to provide angel investments for very early stage companies," said TV Mohandas, chairman of Karnataka Information and Communication Technology Group 2020 which is spearheading the initiative.

Government support for startup activity comes at a time when entrepreneurial activity is rising across the country.

An estimated 500 new startups will be launched every year according to consulting firm Zinnov.

This year nearly 1,750 crore has been invested in early stage ventures.

Remembering 'Dinkar' on his 105th birth anniversary

Ramdhari Singh 'Dinkar' was an Indian Hindi poet, essayist and academic, and today is his 105th birth anniversary.

He is considered as one of the most important modern Hindi poets.

Dinkar was greatly influenced by Iqbal, Rabindranath Tagore, Keats and Milton. He translated works of Rabindranath Tagore from Bengali to Hindi.

His poetry exuded veer rasa, and he has been hailed as a Rashtrakavi ("National poet") on account of his inspiring patriotic compositions.

As a mark of respect for him, his portrait was unveiled in the Central Hall of Parliament of India by the Prime Minister of India, Dr. Manmohan Singh on his centenary year, 2008.

Dinkar was three times elected to Rajya Sabha, and he was the member of this house from April 3, 1952 CE to January 26, 1964 CE, and was awarded the Padma Bhushan in 1959.

Dinkar was awarded the Jnanpith Award in 1972 for Urvashi.
He also became a nominated member of the Rajya Sabha, in 1952.
Dinkar's fans widely believe that he truly deserved the honour of "RashtraKavi.

TRAI warns seven banks for sending un notified communications

TRAI warns seven banks(SBI, ICICI and HDFC Bank, PNB, Citi, Axis and Kotak Mahindra) for sending unrecognized communications

TRAI had said phone connections of banks, insurance firms and realty players would be disconnected if they or entities on their behalf flouted the rules.

TRAI's notice that some of the major banks and financial institutions have continued violation of the provisions by marketing their products and services through unregistered telemarketers.

However, large number of complaints continued to be received from customers regarding calls or SMSes originated by unregistered telemarketers on behalf of banks, insurance companies, builders etc.

Justice Darmar Murugesan Appointed as NHRC Member

Justice Darmar Murugesan, the former Chief Justice of Delhi High Court on 21 September 2013 appointed as member of the National Human Rights Commission (NHRC) for a five-year term.

 Justice Darmar Murugesan (62) was a Judge of the Madras High Court from March 2000 before his elevation as Chief Justice of Delhi High Court in September 2012. He retired in June 20.

Vodafone to directly recruit talent from top Indian institutes

Vodafone to directly recruit talent top 20 Indian business and technology institutes to directly recruit talent,
The company has plans to visit more than 20 top-ranked B-Schools and 'T-Schools' in India which such as Indian Institute of Management, XLRI, MDI, SIBM, IIFT, JBIMS, SCMHRD, SP Jain, and FMS, amongst others.

Vodafone India, which has over 11,500 employees in the country

Anand Amritraj is new Davis Cup captain of India 

The AITA has appointed former Davis Cupper Anand Amritraj as the new non-playing captain of the Davis Cup team, which will take on Chinese Taipei in the Asia/Oceania Group I tie next year.

The 61-year-old Amritraj replaced S P Misra, who lost his job after eight top players revolted, calling for changes in Davis Cup playing conditions, early this year.

The decision to appoint Amritraj was taken at All India Tennis Association's Executive Committee meeting in Goa on Saturday.

He will remain in job for year 2014.

The venue for the Chinese Taipei tie has not been decided as yet.

It was also decided by the committee that Davis Cup venue should be rotated from state to state to allow more states to get an opportunity to host the Davis Cup Tie.

RBI now against 0% EMIs for consumer goods, banks withdraw finance schemes; this festival sales likely to be hit

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