 Former Planning Commission member and ex-director of IIMC Hiten Bhaya passed away in Delhi. Bhaya was 98. Bhaya was a member of the Planning Commission in the Rajiv Gandhi government and had also served as director of the Indian Institute of Mass Communication (IIMC) and chairman of Hindustan Steel. |
| Source: The Business Standard |
 Bank of India, Bank of Maharashtra and Oriental Bank of Commerce have been allowed to exit the PCA framework fully. The three lenders were part of 11 government-owned banks put under the framework in 2017 and 2018. In December, the government had announced a capital infusion of Rs 10,000 crore for Bank of India, Rs 5,500 crore for Oriental Bank of Commerce and Rs 4,500 crore for Bank of Maharashtra, which helped the banks coming out of the framework. The RBI had invoked PCA for Bank of Maharashtra in June 2017, Oriental Bank of Commerce in October and Bank of India went into the framework in December that year. The RBI’s decision to impose lending restrictions on these banks had become a flashpoint between the regulator and the government, which wanted the lending capacity to be freed up. |
| Source: BloombergQuint |
 The United Nations announced 2019 as the International Year of the Periodic Table of the Chemical Elements to highlight its first publication in 1869. The periodic table was first designed by the Russian scientist Dmitri Ivanovich Mendeleev. The announcement by the United Nations will help to raise the profile of how chemistry can provide solutions to global challenges in agriculture, education, energy and health. This year marks the 150th anniversary of the first publication of the periodic table by Mendeleev. |
| Source- The Hindu |
 ‘Kisan Suvidha loan’ for small and marginal farmers has been launched by Ujjivan Small Finance Bank. The scheme will attempt to reach the bottom of the pyramid with products and services. Kisan Suvidha loan can be used by farmers for both agriculture and allied activities. The product is specially designed to cater to the needs of customers for various allied and agricultural activities. It provides loans to individuals with an amount ranging from Rs. 60000 to Rs. 2 Lakh to fulfill the customized needs of the mass market segment. |
| Source: Times Of India |
 Paytm has launched hotel bookings on its platform and acquired Night Stay, which offers deals on last-minute bookings at luxury hotels, as the Alibaba-backed payments and e-commerce company expands its travel business. Paytm plans to invest Rs 500 crore in scaling up its travel operations and has partnered with more than 5,000 hotels across the budget, luxury and business segments. |
| Source- Business Standard |
 The Defence Acquisitions Council, DAC chaired by Defence Minister Nirmala Sitharaman approved indigenous construction of six submarines worth 40 thousand crore rupees. It is the second project under the Ministry’s ambitious strategic partnership model aiming to boost the government’s Make in India’ program. The first project to get the government’s nod for implementation under the new model was the acquisition of 111 utility helicopters for the Navy at a cost of over 21 thousand crore rupees in August last year. DAC has also approved the acquisition of about five thousand MILAN Anti Tank Guided Missiles for the Army. |
| Source- DD News |
 The Punjab government approved a rural development scheme worth Rs 384.40 crore to supplement the ongoing works to build village infrastructure and provide essential amenities. Named ‘Smart Village Campaign’, the scheme would be financed with funds from the 14th Financial Commission and MGNREGA works. The scheme was approved at a Cabinet meeting chaired by Chief Minister Amarinder Singh. The SVC is aimed at improving the condition of rural areas by supplementing the ongoing government schemes for building infrastructure and providing essential amenities. |
| Source- Press Information Bureau (PIB) |
 As per the National Sample Survey Office’s (NSSO’s) periodic labor force survey (PLFS) India’s unemployment rate hit a 45 year high of 6.1% in 2017-18. It is the first comprehensive survey on employment conducted by a government agency after demonetization. Unemployment is higher in urban areas which is 7.8% as compared to 5.3% in rural areas of the country. The unemployment rate is at its highest level as in 1972-73. The rate of jobless rural males rose to 17.4% from 5% and among rural jobless females, the rate became 13.6% from 4.8%. |
| Source: The Quint |
 Italian Prime Minister Giuseppe Conte along with UN representative has launched Africa Centre for Climate and Sustainable development. The new center is located near the Food and Agriculture Organization headquarters in Rome. The major objective is boosting the agricultural sectors and promoting rural development in Africa. It will help in implementing the goals of the UN’s 2030 Agendaand the landmark 2015 Paris Climate Agreement to stop depending on fossil fuel and cap global warming. |
| Source: Economic Times |
 Lt Gen Rajeev Chopra assumed the appointment of Director General of NCC (DGNCC). Commissioned in the Madras Regiment in December 1980, Lt Gen Chopra is an alumnus of the National Defence Academy, Khadakwasla and Indian Military Academy, Dehradun. Lt Gen Rajeev Chopra has commanded an infantry battalion in Operation Rhino (Assam). He has commanded a Brigade in Eastern Command and was Inspector General of HQ IGAR (South) in the insurgency-torn state of Manipur. He has been awarded Ati Vishisht Seva Medal for his distinguished service in January 2018. |
| Source- Press Information Bureau (PIB) |
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