 May 16th is celebrated globally as the International Day of Light. 2019 marks the global celebration of the second edition of the event. It is an official observance of UNESCO that provides an annual focal point for the continued appreciation of light and the role it plays in science, culture, and art, education, sustainable development, communications, and energy. |
| Source: UNESCO |
 World Telecommunication & Information Society Day is observed all over the world on 17th May. The theme forWorld Telecommunication & Information Society Day 2019 is ‘Bridging the Standardization Gap’. The purpose of observing the Day is to help raise awareness of the possibilities that the use of the Internet and other information and communication technologies can bring to societies and economies, as well as of ways to bridge the digital divide. |
| Source- News on AIR |
 Commandos of the premier counter-terror force National Security Guard (NSG) created history as they scaled the Mount Everest (world’s highest peak) in their maiden attempt. A seven-member team of NSG, led by Lt Col J P Kumar, successfully unfurled the Indian flag at the 8,848-metre tall peak. This is the first expedition of the NSG to the Mount Everest and the force has been preparing for it since 2017. |
| Source- The Hindu |
 Leading stock exchange BSE has launched ‘BSE StAR MF’ app to enable more participation and help mutual fund distributors process transactions faster. As per the BSE, this mobile app supports real-time client registration and paperless transactions, creates and uploads mandate for SIPs, generates the basket of multiple orders, tracks and allows the distributor to analyse his business at his fingertips. |
| Source: The Hindu Business Lines |
 China has become the sole contender to host Asian Cup Football tournament in 2023 after South Korea has announced to withdraw its bid to host the game. The Korea Football Association (KFA) announced that it had pulled out to strategically focus on a joint bid with North Korea to host the Women’s World Cup in the same year. |
| Source- ANI News |
 Reserve Bank of India has released a vision document ‘Payment and Settlement Systems in India: Vision 2019 – 2021’, with its core theme of ‘Empowering Exceptional E-payment Experience’ for ensuring a safe, secure, convenient, quick and affordable e-payment system. The move comes as the apex bank expects the number of digital transactions to increase more than four times to 8,707 crores in December 2021. It envisages achieving “a highly digital and cash-lite society” through the goal posts of competition, cost-effectiveness, convenience and confidence (4Cs). |
| Source- RBI |
 To give a fillip to digital lending, Small Industries Development Bank of India (SIDBI)has put together a pilot scheme to extend financial assistance of up to Rs10 crore to new-age fintech non-banking finance companies (NBFCs) engaged in financing small businesses and other income-generating activities. SIDBI has set the exposure cap for lending to a single new-age fintech NBFC at 30% of NOF of the new-age fintech NBFC, subject to maximum cap of Rs10 crore. As per the scheme, new-age fintech NBFCs should hold in trust the underlying securities/ receivables on behalf of SIDBI. |
| What are Fintech NBFCs? Fintech NBFCs are digital loan companies. They leverage information technology to provide fast and convenient access to funding. To be eligible for funding assistance, Reserve Bank of India-registered new-age fintech NBFCs have to meet prescribed parameters, including minimum capital risk-weighted assets ratio of 15%; non-performing assets less than or equal to 4%; minimum net-owned fund (NOF) of Rs20 crore and minimum asset size of Rs50 crore; and at least two audited annual reports, positive net worth and leverage ratio within 5:1. |
| Source- The Hindu Business Line |
 ITC Managing Director Sanjiv Puri has been appointed as the chairman by the Board of Directors. His new designation will now be chairman and managing director. He has been the Managing Director since 2018. He was appointed on the board in December 2015 and as the CEO in February 2017. He is an alumnus of IIT Kanpur and the Wharton School of Business. He joined the ITC in 1986. |
| Source: The Hindu |
 India signed the ‘Christchurch Call to Action’ in Paris. The agreement came in the backdrop of the attacks on mosques in March and is aimed at stopping the abuse of the Internet by extremists. The meeting held in Paris was attended by representatives of online giants like Microsoft, Google, Twitter, Facebook, and Amazon. India was represented by Ajay Prakash Sawhney, Secretary, Ministry of Electronics and Information Technology. |
| Source: The Hindu |
 IT services firm Tech Mahindra and French digital content publishing firm Rakuten Aquafadas signed an MoU to collaborate on building enhanced customer experience offerings. Rakuten Aquafadas and Tech Mahindra aim to build a Customer Experience Offering leveraging the suite of software that Rakuten Aquafadas provides for digital publishing. |
| Source- The Hindu Business Line |
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