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TCS elevates Rajesh Gopinathan as new chief executive

  • Tata Consultancy Services has appointed Rajesh Gopinathan, the current chief financial officer, as CEO of the company.  He replaces N Chandrasekaran, who has been named the chairperson of Tata Sons.
  • TCS has also named N Ganapathy Subramaniam, currently President of TCS Financial Solutions, as chief operating officer.

Minimum monthly pension increased by 9,000 for central govt employees


  • The Government of India has increased the minimum monthly pension to 9,000 per person, besides a two-fold hike in exgratia amount for central government employees.
  • Minister of State in Prime Minister's Office, Dr. Jitendra Singh stated that the exgratia amount for the employees has been increased from 10 -15 lakh to 25-35 lakh rupees.
  • There are about 50-55 lakh pensioners in the country and almost 88% of their accounts have been seeded to Aadhaar.


NITI Aayog Estimates the GDP Growth of 8 Percent for 2016-17


  • NITI Aayog has projected the India GDP growth rate of 8 Percent for 2016-17 based on the appraisal document for the Twelfth Five-Year Plan.
  • The estimate does not take into account the impact of demonetization.


Retail inflation fell 3-year low of 3.41% in Dec from 3.63% in Nov 2016


  • Retail inflation fell to a nearly 3-year low of 3.41 % in December 2016, from 3.63 % in November 2016.
  • Inflation eased mainly on account of falling prices of vegetables and pulses.
  • According to official data, overall food inflation fell to 1.37% in December last year, from 2.11 % in November 2016.


Global unemployment to rise by 3.4 million in 2017: ILO

Global unemployment is expected to rise by 3.4 million in 2017 despite a likely modest pick-up in economic growth at 3.4% this year and 3.6% in 2018, against a six-year low of 3.1% in 2016,  a new report by the International Labour Organisation.

Industrial production grows 5.7% in November 2016


  • Allaying fears of a slowdown following demonetisation, the country's industrial production grew 5.7% in November 2016, compared to a contraction of 3.4% in November 2015.
  • Factory output measured in terms of the Index of Industrial Production, IIP, enhanced in November due to better performance of the manufacturing, electricity, and capital goods sectors. 


World’s first gender literature fest to be held in Patna


  • The world’s first ‘Gender Literature Festival’ is scheduled to be held in Patna, Bihar in the second week of April 2017 The main aim of the fest to create a platform, to exchange ideas, and to share and learn experiences of renowned people in the field of gender literature. 
  • This festival will be organized by  Gender Resource Centre of Bihar’s Women Development Corporation. The festival will also act as a platform to increase visibility for gender equity and advocacy in the State of Bihar.


NTPC inks pact to take over Chhabra thermal power plant


  • State-run NTPC has signed a non-binding agreement with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and Rajasthan Urja Vikas Nigam Ltd to take over Chhabra Thermal Power Plant.
  • NTPC Ltd has signed a non-binding MoU with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and Rajasthan Urja Vikas Nigam Ltd for takeover of Chhabra Thermal Power Plant Stage-I (4x 250 MW) and Stage-II (2x660 MW) of Rajasthan Urja Vikas Nigam by NTPC Ltd


Mahindra Asset Management launches Mahindra Mutual Fund Dhan Sanchay Yojna scheme


  • Mahindra Asset Management Company Pvt. Ltd (MAMCPL) launched an open-ended scheme Mahindra Mutual Fund Dhan Sanchay Yojna scheme to generate long-term returns through investment in equity and debt.
  • The scheme will close on January 24, 2017 and will open again for continuous sale and repurchase from February 8, 2017. 
  • The scheme is for investors who seek to take a calculated exposure in both equity and debt wit a long-term investment outlook


Government to sell 51% stake in Pawan Hans


  • Moving ahead with the strategic sale of Pawan Hans, the government sell its entire 51% stake and transfer the management control of the helicopter service operator.
  • Pawan Hans is a joint venture where state-owned ONGC holds 49%.
  • The government has sought applications from entities to act as transaction advisor for the proposed disinvestment of its stake in the company


XCMG China to invest $150 m in manufacturing unit in India


  • XCMG, a China-headquartered global construction machinery company, will invest ₹150 million in a new manufacturing unit in India for construction and material-handling machines.
  • For the proposed venture, the company will partner with Schwing Stetter India, a ready-mix concrete equipment company, to use the latter’s facilities and resources to build its business in India.


Japanese PM Shinzo Abe signs 1 trillion yen aid package to the Philippines


  • Japanese Prime Minister Shinzo Abe has signed a 1-trillion yen, about 8.7 billion dollars, aid package over the next five years to the Philippines, meant to improve economic and political relations between the two island nations.
  • The package is focused on infrastructure and energy. 
  • Abe's two-day visit to the archipelago makes him the first foreign leader to visit since the election of the Philippines' President Rodrigo Duterte in May 2016. 


Manish Tewari appointed senior fellow of US think tank


  • Congress leader and former Union Minister Manish Tewari was appointed as the senior fellow of US-based think tank Atlantic Council .
  • Tewari will focus on programming aimed at strengthening US-India relations.


Ashish Shelar appointed as MCA president


  • BJP Mumbai unit chief Ashish Shelar has been appointed as Maharashtra Cricket Association (MCA) president. Sylar takes over from the former ICC president Sharad Pawar.
  • He was elected as Vice President of MCA on 17 June 2015.


Consulate General of India in Dubai announces launch of 'Diplomats Cricket Championship Cup'

Consulate General of India in Dubai has announced launch of the 'Diplomats Cricket Championship Cup' in association with the Skyline University College, Sharjah, to promote sportsmanship, camaraderie, and harmonious relationship among the diplomatic missions of UAE
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