Asian Development Bank (ADB) committed a total of USD 3.88 billion, including sovereign loans and co-financing to India during the year ended December 2018. This is the highest level of assistance since sovereign operations began in the country in 1986. Private sector operations reached USD 3.14 billion, a 37 per cent increase from 2017, which is 14.5 per cent of ADB’s overall commitment.
NOTE- ADB HQ: Manila, Philippines President: Takehiko Nakao
India became a net importer of steel in the fiscal year 2018-2019 that ended on 31 March for the first time in 3 years, as the 25% import duty on steel products imposed by the US diverted supplementary supplies to India. India’s steel imports increased by 4.7% to 7.84 million tonnes in 2018-19 from 7.48 million tonnes a year earlier. Exports fell by 34% to 6.36 million tonnes from 9.62 million tonnes over.
Mithali Raj who is the Indian women’s cricket team captain has been named the goodwill ambassador of Team India at the Street Child Cricket World Cup (SCCWC). Mithali joins IPL franchise Rajasthan Royals and former captain Sourav Ganguly in supporting the team. The Street Child Cricket World Cup 2019 SCCWC is the first cricket world cup for street-connected children. The tournament is being organised by Street Child United (SCU), a UK based organisation.
General Bipin Rawat who is the Chief of Army Staff commissioned the Indian Coast Guard Ship Veera at a ceremony held at Naval Jetty at the dockyard at Vishakhapatnam, Andhra Pradesh. Veera, third in the series of offshore patrol vessels of the Coast Guard, was built by L&T at its shipbuilding facility at Kattupalli in Chennai. L&T MD and CEO B Kannan stated that a ship of this class has been designed and constructed in India for the first time as part of ‘Make in India’ concept of the Central government.
IDBI Bank has started ‘NRI-Insta-Online’ account opening process for NRIs residing in the Financial Action Task Force (FATF) member countries. The person will not be required to furnish physical documents as well as KYC proofs for opening an account with the bank.
NOTE- IDBI BANK HQ: MUMBAI
The 8th edition of Home Expo India 2019 opened at India Expo Centre and Mart, Greater Noida. It is a three-day exhibition . It has been organized by the Export Promotion Council for Handicrafts (EPCH). Home Expo India covers sectors with maximum thrust and growth potential in home décor, furnishing, furniture, flooring, and textiles.
Fincare Small Finance Bank (SFB) honoured with the prestigious Celent Model Bank 2019 Award in Financial Inclusion category, for ‘Redesigning Lending to Reach Small Businesses’. The award recognizes LAP (Loans against Property) D.Lite, which is a tab-based solution designed and developed in-house by Fincare SFB for instant underwriting of loans against property targeted at micro and small enterprises. The Award was announced on its 12th anniversary in 2019 and was organized by Celent in New York. LAP D.Lite is one of the 22 initiatives from all over the world to receive this award, which featured 140 nominations from 80 institutions from 30 countries. The other banks to receive the award in other categories were Bank of America, CIBC, Fidor Bank, HSBC, Rabobank, and Santander. The award is for best practices of technology usage in different areas critical to success in banking.
Punjab National Bank (PNB) appointed Rajesh Kumar Yaduvanshi as the Executive Director of the bank. Rajesh Kumar Yaduvanshi joined PNB as a management trainee in 1985. He is equipped with an experience of 34 years in the banking career and is a certified associate member of Indian Institute of Bankers. In the past, he had worked with Dena Bank in the capacity of the Executive Director.
World Haemophilia Day was started in 1989 by the World Federation of Hemophilia (WFH) which chose to bring the community together on April 17 in honour of WFH founder Frank Schnabel’s birthday. World Hemophilia Day theme for the year 2019 is ‘Outreach and Identification’. It will be observed with the slogan – ‘Reaching Out: The First Step to Care’.
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