CURRENT AFFAIRS 18TH APRIL

Ajay Kumar Dixit appointed as CEO of Cairn Oil

Cairn Oil & Gas, a division of Vedanta Ltd, has announced the appointment of Ajay Kumar Dixit as its Chief Executive Officer. Dixit succeeds Sudhir Mathur, who after seven successful years with the company, moves on to pursue personal endeavors.  Dixit had joined Vedanta in 2015 from Siemens where he was CEO-Energy for South Asia. He is an alumni of Delhi College of Engineering and had served as the acting CEO of Vedanta’s Aluminium and Power business before being elevated to this new role.

redBus appoints Mahendra Singh Dhoni as brand ambassador

Bus ticketing platform redBus has appointed cricketer Mahendra Singh Dhoni as its brand ambassador. The cricketer will appear in a hockey player avatar in his first cameo for the brand, slated to be launched soon. Dhoni’s brand endorsement deals can be in the range of Rs. 3-10 crore. At present, Dhoni is the brand ambassador of sports firm Dream11, Colgate, MasterCard, Orient Fans, BharatMatrimony, Indigo Paints, SRMB Steel, and health supplement brand Revital H. Recently, Fantasy sports platform HalaPlay Technologies has appointed cricketers Krunal and Hardik Pandya as its brand ambassadors.

IDRBT set up 5G Lab for Banking, Financial Sector

Institute for Development and Research in Banking Technology (IDRBT) launched the 5G Use Cases Lab for banking and financial sector along with blockchain technology. IDRBT is an arm of Reserve Bank of India. It also released a white paper on 5G applications for banking and financial sector in India. The use of 5G will change a range of technologies and applications, including point of sale (PoS) machines in the banking sector, which are currently using 2G and are in the process of being phased out.

PwC India names Padmaja Alaganandan as chief people officer

PwC India announced the appointment of Padmaja Alaganandan as the firm’s new Chief People Officer (CPO). She takes over the role from Jagjit Singh. Padmaja associated with PwC for the last eight years.  She was the Technology sector lead for PwC’s Advisory Line of Service.  The leader of the firm’s People and Organisation Consulting practice.

Before joining PwC in 2011, Padmaja worked in leadership roles in different organisations such as Mercer Consulting and AF Ferguson. She is a member of CII’s National HR Committee and the Committee on Skill Development. Padmaja was inducted into the firm’s leadership team.

Canara Bank Becomes The First Public Sector Bank In India To Meet RBI’s EMV Mandate

ACI Worldwide, a global provider of real-time electronic payment and banking solutions, announced that Canara Bank has successfully rolled out major new functionality to support EMV card acquiring across its ATM network and Aadhaar Authentication, leveraging ACI’s UP Retail Payments solution to achieve market firsts.

NOTE- CANARA BANK HQ: Bengaluru 

Bandhan Bank Gets CCI Nod For Merger With Gruh Finance

Bandhan Bank has received approval from the Competition Commission of India (CCI) for the proposed scheme of amalgamation of Gruh Finance with the bank. The approval has been made under sub-section (1) of Section 31 of the Competition Act, 2002. Bandhan Bank had, in January 2019, announced the merger of Gruh Finance with it. The move was taken to bring down promoter holding in the bank to 61% from 82.3%.

NOTE- BANDHAN BANK HQ: KOLKATA

The IMF and World Bank launches “Learning Coin” to explore blockchain technologies

The two global financial agencies The International Monetary Fund and the World Bank want to gain insights into how blockchain and cryptocurrencies work. To get a better understanding of the subject, they launched a private blockchain and quasi-cryptocurrency called “Learning Coin”, the Financial Times reports. The World Bank and IMF emphasised that this project should not be regarded as a way to promote cryptocurrencies as it is focused on knowledge and educational aspects.

BoM Joins M1Xchange TReDS Platform for MSME Bill Discounting

Bank of Maharashtra (BoM) has partnered with M1Xchange Trade Receivables Discounting System (TReDS) platform for MSME bill discounting. TReDS is a digital platform to support micro, small and medium enterprises (MSMEs) to get their bills financed at a competitive rate through an auction where multiple registered financiers can participate.

World Heritage Day observed on 18th April

World Heritage Day also known as International Day for Monuments and Sites is an annual event celebrated on 18 April every year. In 2019, the theme is Rural Landscapes. The day was proposed by the International Council on Monuments and Sites (ICOMOS) on 18 April 1982 and approved by the General Assembly of UNESCO in 1983.


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