Current Affairs - April 22, 2018 Current Affairs

According to World Bank, India has 19 crore adults without a bank account, making it the world's 2nd largest unbanked population. India's adult population with a bank account has more than doubled to 80% since 2011. Jan-Dhan Yojana has brought an additional 310 million Indians into formal banking system by March 2018. China has world's largest unbanked population, followed by India & Pak.

Tata Consultancy Services has moved closer to the $100 billion mark in market capitalisation as its share price surged nearly 7%, adding about $6.2 billion to its valuation. The IT major is set to be the first listed Indian company to achieve this milestone. TCS is the leading the chart as the most valued firm followed by Reliance Industries, HDFC Bank, ITC and HUL.

Mumbai Football Arena, the new hub of Indian football, will play host to the inaugural edition of the 4 nation Intercontinental Cup. Tournament will see Indian national team competing with the likes of South Africa, New Zealand & Chinese Taipei. Intercontinental Cup comes on back of Tri-nation series in Sept 2017 which was also held at the same venue with India eventually emerging champions.

The British government announced a new trade partnership between India-UK. India would be investing more than 1 billion pounds in UK which will aid in creating 5,750 British jobs. The new partnership was announced after Prime Minister Narendra Modi had talks with the British Prime Minister Theresa May.

Indu Jain, chairman of Bennett, Coleman & Co received the All India Management Association's (AIMA's) annual award for lifetime contribution to media. AIMA honours achievers who created a fundamental difference to society through its annual Managing India Awards. It has honoured Indu Jain for managing the Times Group and for establishing the Times Foundation. Indu Jain also received the Padma Bhushan in 2016. She launched the Times Foundation in 2000 to carry out community services, research foundation, and relief funds. Bennett, Coleman & Co publishes newspapers and magazines like The Times of India.

Bengaluru FC have won the inaugural edition of Super Cup Football tournament. In the final at the Kalinga Stadium in Bhubaneswar, they defeated Kolkata football giants East Bengal by a convincing margin of 4-1. Bengaluru thus maintained their record of winning a trophy in each of the five seasons they have been in existence.

The two-day 25th Commonwealth heads of Govt meeting began in London. The Summit focuses on peace, prosperity, security, trade and investment. Discussions on strengthening cooperation in the fight against global terrorism & cyber crime are expected. It is after 20 years that the UK is hosting the Commonwealth Heads of Govt Meeting. PM Narendra Modi is attending the summit for the first time.

Standard Chartered Bank has announced an alliance with Zoho to offer solutions to enhance corporate banking experience. Bank's business account holders can now pay their suppliers & automate reconciliation right from Zoho Books. The collaboration with Zoho offers clients a revolutionary experience, enabling them to interact seamlessly, resulting in simpler reconciliation & faster payments.

US Senate has confirmed President Donald Trump-nominated Representative Jim Bridenstine to serve as NASA's 13th administrator. His confirmation following a vote in the Senate ends the longest span of time that NASA has operated without a permanent leader. Bridenstine, a pilot in US Navy Reserve currently serves on the House Armed Services Committee & Science, Space & Technology Committee.

Kyrgyzstan's Parliament has named Mukhammedkaliy Abylgaziyev as the new Prime Minister. Abylgaziyev, previously chief of staff in President Sooronbai Jeenbekov's office, replaced Sapar Isakov whose cabinet lost a no-confidence vote. The govt reshuffle completes a series of moves taken by Jeenbekov since he came to power to remove the appointees of his predecessor, Almazbek Atambayev.

Indian Overseas Bank has entered into an agreement for information utility services with the National E-Governance Services Limited. With this agreement, the IOB branches will be able to provide high-quality, authenticated information about debts and defaults. The NeSL became India's first information utility for bankruptcy cases under the 'Insolvency & Bankruptcy Code 2016' in October 2017.

Maruti Suzuki India's entry-level hatchback Alto has retained its status as the best selling passenger vehicle in India in 2017-18. The Alto retained its number one position by selling 258,539 units in 2017-18 as against 241,635 units in the previous financial year. Maruti continued its dominance with seven of its models featuring in the top ten list.

Dilip Chenoy was appointed as the Secretary-General of industry body Federation of Indian Chambers of Commerce and Industry (FICCI). He has replaced Sanjaya Baru. Chenoy was working as Director General of the industry body.

Yes Bank has received the Reserve Bank of India's approval to open two representative offices in London and Singapore. The opening of these new offices will help in further diversification and expansion of financial services to the NRI diaspora. Yes Bank opened its first representative office in Abu Dhabi in April 2015.

Prince Charles will be the next head of the Commonwealth, succeeding, his mother Queen Elizabeth. The Queen has been head of the Commonwealth since coming to the throne in 1952, but the position is not automatically held by the British monarch. As the Queen no longer goes abroad, the current summit in London in all likelihood will be her last.