1. The Reserve Bank of India (RBI) has pitched for stringent entry norms for new banks while suggesting four- tier structure for the domestic banking industry. The Central bank said that this is important in order to improve the quality of the banking system and promote competition. The RBI yesterday released a discussion paper titled ‘Banking Structure in India - The Way Forward’.
2. State Bank of India on Tuesday said it may merge one of the five associate banks in the current fiscal. “Right now we are in a position to merge one of the subsidiaries.... We may merge one associate bank this year,” SBI Chairman Pratip Chaudhuri told PTI in New Delhi. SBI first merged its associate State Bank of Saurashtra with itself in 2008. Two years later in 2010, State Bank of Indore was merged with SBI.
3. Pakistan and Russia are all set for the first ever Strategic Dialogue that is aimed at upgrading political, diplomatic, economic and defence relations.
4. A two-day summit of the South East Asian Defence Ministers begins in Brunei today. Territorial disputes in the South China Sea are expected to top the agenda at the meeting. Senior defense officials from the United States, China, Japan, South Korea and other regional powers are also attending the two-day ASEAN summit.
5. In its first ever loan to private agri-business in India, Asian Development Bank (ADB) will provide $ 18.4 million to Champion Agro to set up cold storage facilities for fruits and vegetables focusing on Gujarat.
6. Retired All India Services (IAS, IPS and IFoS) officials will get 20 per cent of additional pension after completing 80 years of age, according to new rules notified by the central government.
7. Andhra Pradesh Grameena Vikas Bank (APGVB) has opened about 1.5 lakh no-frills accounts in eight districts of the State on a single day as part of Direct Benefit Transfer (DBT) initiative.
8. PepsiCo’s Chairperson and CEO Indra Nooyi, who is of Indian origin, would be honoured by a charitable body, run by a group of Indian-American women professionals in Manhattan, in October.
9. Ashok Vemuri, director and head of Americas and global head of manufacturing and engineering services has resigned. Sanjay Jalona will take over as the global head of manufacturing.
10. India's first defence satellite all set for launch. GSAT-7 is India's first dedicated spacecraft for Defence applications.
2. State Bank of India on Tuesday said it may merge one of the five associate banks in the current fiscal. “Right now we are in a position to merge one of the subsidiaries.... We may merge one associate bank this year,” SBI Chairman Pratip Chaudhuri told PTI in New Delhi. SBI first merged its associate State Bank of Saurashtra with itself in 2008. Two years later in 2010, State Bank of Indore was merged with SBI.
3. Pakistan and Russia are all set for the first ever Strategic Dialogue that is aimed at upgrading political, diplomatic, economic and defence relations.
4. A two-day summit of the South East Asian Defence Ministers begins in Brunei today. Territorial disputes in the South China Sea are expected to top the agenda at the meeting. Senior defense officials from the United States, China, Japan, South Korea and other regional powers are also attending the two-day ASEAN summit.
5. In its first ever loan to private agri-business in India, Asian Development Bank (ADB) will provide $ 18.4 million to Champion Agro to set up cold storage facilities for fruits and vegetables focusing on Gujarat.
6. Retired All India Services (IAS, IPS and IFoS) officials will get 20 per cent of additional pension after completing 80 years of age, according to new rules notified by the central government.
7. Andhra Pradesh Grameena Vikas Bank (APGVB) has opened about 1.5 lakh no-frills accounts in eight districts of the State on a single day as part of Direct Benefit Transfer (DBT) initiative.
8. PepsiCo’s Chairperson and CEO Indra Nooyi, who is of Indian origin, would be honoured by a charitable body, run by a group of Indian-American women professionals in Manhattan, in October.
9. Ashok Vemuri, director and head of Americas and global head of manufacturing and engineering services has resigned. Sanjay Jalona will take over as the global head of manufacturing.
10. India's first defence satellite all set for launch. GSAT-7 is India's first dedicated spacecraft for Defence applications.
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