SBI inks MoU with NIIF to boost capital availability for infrastructure projects
State Bank of India (SBI) and National Investment and Infrastructure Fund (NIIF) on Monday inked a memorandum of understanding (MoU) to boost the availability of capital for infrastructure projects.
The scope of the MoU includes equity investments, project funding, bond financing, renewable energy support and take-out finance for operating assets, according to the joint statement issued by SBI and NIIF.
The objective of this initiative is to aid in filling the gap at a time when the availability of equity and debt financing for infrastructure .
SBI to raise Rs. 7,000-crore additional tier-1 capital
State Bank of India on Monday said its Central Board accorded the approval to raise AT (additional tier) 1 capital up to an amount of Rs. 7,000 crore during the current financial year.
This resource raising will be by way of issuance of Basel-III-compliant debt instrument in rupees and/or any other convertible currency through a public offer or a private placement.
The debt instruments will be issued to overseas and/or Indian investors (Dollar AT 1/ Masala AT 1) in such number of tranche(s), at such time as may be considered appropriate and on such coupon(s), as may be decided at the time of actual issuance during FY20.
UGC launches new initiative to nurture socially relevant research
The UGC has approved a new initiative, Scheme for Trans-Disciplinary Research for India’s Developing Economy (STRIDE), to support socially relevant, local need-based, nationally important and globally significant research projects.
“STRIDE scheme will strengthen research culture and innovation in colleges and universities and help students and faculty to contribute towards India’s developing economy with help of collaborative research,” said Ramesh Pokhriyal Nishank, Union Minister of Human Resource Development. Focus on Humanities and Human Sciences will boost quality research on Indian languages and knowledge systems.
Tamil Nadu declared 'Tamil Yeoman' or 'Tamil Maravan' as its state butterfly
'Tamil Yeoman', a kind of butterfly found in Western Ghats .It is declared as Tamilnadu state butterfly. It is also known as 'Tamil Maravan'. Tamil Nadu is the fifth state in the country to announce its state butterfly.
Its scientific name was Cirrochroa thais. ' Maharashtra the first to declare Blue Mormon (Papilio polgmnestor) as its state butterfly. It is followed by Uttarakhand (Common peacock), Karnataka (Southern bird wings) and Kerala (Malabar banded peacock).
About Tamil Yeoman
Scientific name - Cirrochroa thais. It is known as Tamil Maravan means warrior
Habitat: It is endemic to Western Ghats.
Abu Dhabi hosts the ISALEX19, the International Security Alliance (ISAs) first joint security exercise
Abu Dhabi is hosting the ISALEX19, the International Security Alliance (ISAs) first joint security exercise. The exercise began on 30 June. The exercise will simulate a real-life security threat in a virtual context. It also aims to test the readiness of the different teams and to evaluate the tools, strategies and procedures developed jointly between member countries.
India slips to place to 74th in terms of money in Swiss Banks
The annual banking statistics report compelled by the Swiss National Bank (SNB), India slipped to 74th place in terms of money with Swiss banks. UK (United Kingdom) remained top in the list of the survey. India holds 6% in 2018 to 955 million Swiss francs (about Rs.6,757 crore) A second lowest level in over two decades.
Karnataka Bank launches web tool for NPA recovery process
Karnataka Bank Ltd has launched the web tool – ‘Vasool So-Ft’ (Vasool So-Fast) – for digitalising the NPA (non-performing asset) recovery process of the bank.
Launching the tool in Mangaluru, Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, said the digital tool for the recovery of stressed assets will provide an end-to-end digital solution. It will enable easy and faster processing, real time information and immediate decision making in the recovery area.
Tencent, Paytm plan to invest $100 million in video startup
Paytm plan to invest about $100 million in Indian streaming service MX Player, according to a person familiar with the matter, as local and foreign companies compete for a piece of the country’s burgeoning online video market.
The WeChat operator and Paytm are in the final stages of discussions
GST collection dips below ₹1 lakh cr in June
After three successive months of ₹1-lakh-crore plus mobilisation, collection from the Goods & Services Tax (GST) dipped in June to little below ₹1 lakh crore.
Meanwhile, Minister of State for Finance and Corporate Affairs Anurag Singh Thakur on Monday warned dishonest traders against using fake invoices to claim fraudulent Input Tax Credit (ITC).
Hyderabad airport launches Face Recognition system for entry
The Rajiv Gandhi International Airport here has initiated Face Recognition (FR) system on a trial basis for passengers for entry into the aerodrome. The trials, which are being carried out under Centre’s Digi Yatra programme started from July 1 and would continue till July 31, they said adding over 180 passengers enrolled voluntarily for the trials at the airport.
New Zealand bans single-use plastic shopping bags
New Zealand officially banned single-use plastic shopping bags introducing hefty fines for business.
Plastic pollution has become a growing global concern with a million birds and more than 100,000 marine mammals who are injured or killed every year
Companies that break New Zealand's ban face heavy penalties including fines of up to 100,000 New Zealand dollar (USD 67,000).
The use of single-use plastic shopping bags under the new rules, thin plastic single-use shopping bags can no longer be supplied .
IL&FS board sets up sub-committee to oversee disinvestment process
The Reserve Bank of India on circular on the resolution of bad loans.
The debt-ridden Infrastructure Leasing & Financial Services Ltd is constituting a sub-committee to oversee the process of divestment of its assets. The decision was taken during its board meeting held on June 28. The six-member committee will comprise of 4 directors namely Vineet Nayyar, CS Rajan, Bijay Kumar, N Srinivasan, and COO N Sivaraman. They will discuss and finalize the asset-wise framework of resolution with lender.
FinMin to launch 11th tranche of Electoral Bonds sale to start from July 1
Launching the tool in Mangaluru, Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, said the digital tool for the recovery of stressed assets will provide an end-to-end digital solution. It will enable easy and faster processing, real time information and immediate decision making in the recovery area.
Tencent, Paytm plan to invest $100 million in video startup
Paytm plan to invest about $100 million in Indian streaming service MX Player, according to a person familiar with the matter, as local and foreign companies compete for a piece of the country’s burgeoning online video market.
The WeChat operator and Paytm are in the final stages of discussions
GST collection dips below ₹1 lakh cr in June
After three successive months of ₹1-lakh-crore plus mobilisation, collection from the Goods & Services Tax (GST) dipped in June to little below ₹1 lakh crore.
Meanwhile, Minister of State for Finance and Corporate Affairs Anurag Singh Thakur on Monday warned dishonest traders against using fake invoices to claim fraudulent Input Tax Credit (ITC).
Hyderabad airport launches Face Recognition system for entry
The Rajiv Gandhi International Airport here has initiated Face Recognition (FR) system on a trial basis for passengers for entry into the aerodrome. The trials, which are being carried out under Centre’s Digi Yatra programme started from July 1 and would continue till July 31, they said adding over 180 passengers enrolled voluntarily for the trials at the airport.
New Zealand bans single-use plastic shopping bags
New Zealand officially banned single-use plastic shopping bags introducing hefty fines for business.
Plastic pollution has become a growing global concern with a million birds and more than 100,000 marine mammals who are injured or killed every year
Companies that break New Zealand's ban face heavy penalties including fines of up to 100,000 New Zealand dollar (USD 67,000).
The use of single-use plastic shopping bags under the new rules, thin plastic single-use shopping bags can no longer be supplied .
IL&FS board sets up sub-committee to oversee disinvestment process
The Reserve Bank of India on circular on the resolution of bad loans.
The debt-ridden Infrastructure Leasing & Financial Services Ltd is constituting a sub-committee to oversee the process of divestment of its assets. The decision was taken during its board meeting held on June 28. The six-member committee will comprise of 4 directors namely Vineet Nayyar, CS Rajan, Bijay Kumar, N Srinivasan, and COO N Sivaraman. They will discuss and finalize the asset-wise framework of resolution with lender.
FinMin to launch 11th tranche of Electoral Bonds sale to start from July 1
inance Ministry of India set to launch the 11th tranche of Electoral Bonds sale to start from July 1 - 10. India's largest Public Sector Bank (PSB) State Bank of India (Sal) authorized to issue and encash electoral bonds in the Xl phase of the sale It is carried out through its 29 branches. This is the first issuance of electoral bonds.
Max Verstappen won 2019 Austrian Grand Prix
Red Bull's Max Verstappen won the 2019 Austrian Grand Prix. He defeated Ferrari's, Charles Leclerc
Mercedes Valtteri Bottas met continuous win and finishes with the third one. Ferrari's Sebastian Ve became fourth. Five-times world champion Mercedes Lewis Hamilton won fifth place.
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