Current Affairs Current Affairs April 2019

  Google has opened its first African artificial intelligence (AI) centre in Ghana’scapital Accra, one year after announcing the project. The research laboratory will host software engineers and research scientists to work on projects dedicated to next-generation technology.
Source: The Hindu

 The International Monetary Fund (IMF) and the World Bank have together launched a private blockchain with a pseudo-token. The new token, called “Learning Coin” and only accessible within the IMF and World Bank, has a purpose to teach relevant individuals within the organizations about blockchain. Though the coin has no real value – hence the description pseudo-token – staff members who pass educational milestones will receive the tokens which can then be redeemed for certain rewards. The purpose is to get employees to understand the applications of blockchain technology in the real world.
Source- The Quint

 IDBI Bank has launched ‘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.
Source: Economic Times

  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. Canara Bank, with nearly 6,300 branches and a network of more than 10,000 ATMs, is the first public sector bank to shift to EMV chip and PIN for card present transactions across the country’s vast ATM network.
Source: MoneyControl

  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%.
Source- The Hindu Business Line

 The Palestinian President Mahmoud Abbas has appointed Mohammed Ishtayeh as the new Prime Minister. Mohammed Ishtayeh will succeed Rami Hamdallah. The 18th Palestinian government since the establishment of the Palestinian Authority in 1995 was sworn in according to a presidential decree issued by Abbas, a move at a time when prospects for a peace deal with Israel are possibly at their lowest point ever.
Source- The Livemint

  Indian women’s cricket team captain Mithali Raj 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.
Source: Economic Times

  Fincare Small Finance Bank (SFB) has been awarded the prestigious Celent Model Bank 2019 Award in the category of Financial Inclusion, for ‘Redesigning Lending to Reach Small Businesses’. The award recognizes LAP (Loans Against Property) D.Lite, a tab-based solution designed and developed in-house by Fincare SFB for origination and instant underwriting of loans against property targeted at micro and small enterprises.
Source: Business Standard

  India was a net importer of steel during the 2018-19 fiscal year, the first time in three years, as the country lost market share among its traditional steel buyers and imports jumped on demand for higher-quality steel domestically. The country’s finished steel exports fell by 34% in the fiscal year that ended in March to 6.36 million tonnes, according to preliminary government data given to Reuters on Friday. During the same period, finished steel imports rose 4.7% to 7.84 million tonnes.
Source: The Hindu

 Chief of Army Staff General Bipin Rawat 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.
Source: New Indian Express



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