14 November 2018 - Daily Current Affairs

Govt to issue Rs 75 coin to mark the 75th anniversary of Tricolour hoisting by Netaji Subhash Chandra Bose

The government will release a Rs 75 coin to commemorate the 75th anniversary of Netaji Subhash Chandra Bose hoisting the Tricolour for the first time at Port Blair.
The Ministry of Finance has issued a notification regarding the release of the Rs 75 coin along with its specifications.
On December 30, 1943, Bose, who raised the Indian National Army (INA) to fight against the British, had hoisted the Tricolour for the first time at Cellular Jail, Port Blair.
The commemorative Rs 75 coin will be made out of 50 percent silver, 40 percent copper, and 5 percent each of nickel and zinc, and will weigh 35 grams.
This coin will bear the portrait of 'Netaji Subhash Chandra Bose' saluting the flag on the background of Cellular Jail in Port Blair.

Source: business today

Ashok Leyland's Vinod Dasari steps down as CEO after a 14-year stint

Vinod K Dasari has quit as Managing Director and Chief Executive Officer of Ashok Leyland after nearly 14 years in the company. He has decided to pursue his personal interests.
In the interim, the company’s Chairman Dheeraj Hinduja will oversee the responsibilities as Executive Chairman.

Source: business standard

Binny Bansal resigns as Chairman & Group CEO of Flipkart

Binny Bansal, Flipkart’s co-founder, Chairman and Group CEO, resigned, following an independent investigation of an allegation of serious personal misconduct against him, the company’s parent Walmart said in a statement.
In the meantime, Kalyan Krishnamurthy will continue to be the CEO of Flipkart, which will now include Myntra and Jabong, and continue to operate as separate platforms within the Flipkart business.
Ananth Narayanan will continue as CEO of Myntra and Jabong and will report to Kalyan.
According to Walmart, Bansal has been contemplating a transition for some time now, and the company has been working with him on a succession plan, which has now been accelerated with the allegations of personal misconduct.

Source: The Hindu BusinessLine

Gautam Singhania steps down as Raymond Apparel Chairman

Gautam Singhania has stepped down from the position of Chairman of Raymond Apparel, a wholly-owned subsidiary of Raymond.
He will, however, continue to be on the board of Raymond Apparel.
Nirvik Singh will take charge as the non-Executive Chairman in his place.
Anshu Sarin has also joined the board as a non-executive director along with Gautam Trivedi who has joined as an independent director.

Source: Money Control

India's job outlook drops 3% in H2 of FY19: TeamLease Report

The overall hiring sentiment for the second half of this financial year has declined by 3 percent to 92 percent with persisting currency and oil pricing concerns in the country, according to a report.
It was 95 percent in the preceding half-year (April-September 2018), according to TeamLease Employment Outlook report 2018-19.
The report surveyed 750 employers and 2,500 employees of small, medium and large companies across 19 sectors and 14 cities to understand the hiring sentiment in the country.
The continued, significant, growth in GDP failed to enthuse the job market for the forthcoming half of the year, the report noted.

Source: Money Control

Important Dates

World Diabetes Day observed today

Every year November 14 is observed as the World Diabetes Day.
The theme for World Diabetes Day 2018 and 2019 is The Family and Diabetes.
Over 425 million people are currently living with diabetes.
The day is observed to spread and raise awareness and to provide affordable care to all.
World Diabetes Day was first introduced in 1991 and founded by both the International Diabetes Federation and the World Health Organization.
Diabetes is a term used for a condition when the body doesn’t produce enough insulin to meet the requirement or cells don’t respond properly to insulin.
The day chosen was the birthday of Sir Frederick Banting, a medical scientist who co-discovered Insulin and was the first person to use it on humans.

Source: The Times of India

Sports

Australian fast bowler John Hastings retired from all forms of cricket

Australian fast bowler John Hastings has retired from all forms of cricket fearing a mystery ailment could lead him to bleed to death on the field.
The burly all-rounder, who has represented his country in all three formats of the game, revealed last month he was struggling with an illness that causes him to cough up blood whenever he bowls.
The 33-year-old Hastings, who admitted he worked "bloody hard" on his professional cricket career, has been forced to come to terms with an exit from the game without a definitive medical diagnosis.
Hastings made his debut for Australia in one-day and Twenty20 internationals in 2010.
He played a lone Test in 2012, while the last of his 29 appearances for Australia in one-day internationals was against New Zealand in the 2017 Champions Trophy.

Source: DD News

Banking & Finance

Union Bank of India turns 100 on 11^th Nov 2018

Union Bank of India on 11^th Nov 2018 celebrated its 100th Foundation Day in Mumbai.
Established on November 11, 1919, the bank’s corporate office in Mumbai was inaugurated by Mahatma Gandhi.
India Post released a postal stamp to commemorate the centenary year of Union Bank of India while Maharashtra Chief Minister Devendra Fadnavis released a coffee table book A Century of Trust issued by the bank.
The bank also launched two new variants of debit and credit cards, a new mobile banking app and a web and a tab-enabled module for credit to the MSME sector.

Source: The Hindu BusinessLine

IDFC First Bank may start operations from New Year

IDFC First Bank, the new entity formed after the amalgamation of Capital First with IDFC Bank, is set to launch operations from the New Year.
“It is expected that the newly merged bank will start operations from January,” said the source.
Shareholders and creditors of IDFC Bank and Capital First had approved the transaction in October and November, respectively.
On October 25, IDFC Bank had said its board has approved making an application to the Reserve Bank of India to change its name to ‘IDFC First Bank Limited’.
Post-merger, Rajiv Lall, Managing Director, and CEO of IDFC Bank, will take over as the non-executive Chairman of the new entity.
V Vaidyanathan, Chairman and Managing Director, Capital First who is also a veteran banker, will become MD and CEO of the new entity.

Source: The Hindu BusinessLine

Karnataka Bank opens its first digital branch

Karnataka Bank has opened its first-ever digital branch in the country in Bengaluru.
This happens to be the 821st branch of the bank.
Ramamohan Rao Belle, Director of the bank, inaugurated the branch in the presence of Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank.

Source: The Hindu BusinessLine

International Affairs

Prime Minister Modi launches APIX technology in Singapore

Prime Minister Narendra Modi launched the APIX (Application Programming Interface Exchange), a banking technology platform designed to reach nearly two billion people worldwide who are still without bank accounts.
Prime Minister Modi launched the technology platform with Deputy Prime Minister of Singapore T Shanmugaratnam.
Prime Minister Modi became the first leader to address the prestigious Fintech Festival in Singapore.
APIX is a banking technology platform designed to reach two billion people worldwide who are still without bank accounts.
Designed by software experts based in Hyderabad, Colombo, and London, APIX is a sophisticated technology developed by Boston-headquartered Virtusa, especially for smaller banks, Tier 3 and 4, to reach out to people in the remote regions.
The APIX will support banks to reach out to those without bank accounts in 23 countries including the 10 ASEAN members as well as major markets such as India, and small nations including Fiji.

Source: Money Control

Sri Lanka's Parliament passes a no-confidence vote against Prime Minister Rajapaksa

In a major setback to President Maithripala Sirisena, the Sri Lankan Parliament today passed a no-confidence motion against the government headed by his controversially-appointed Prime Minister Mahinda Rajapaksa.
The Parliament today met for the first time since October 26, when President Sirisena sacked prime minister Ranil Wickremesinghe and suspended the Parliament plunging the island nation into a crisis.
Parliament Speaker Karu Jayasuriya announced that a majority of the 225-member assembly supported the no-confidence motion against Rajapaksa, who was appointed by President Sirisena as prime minister on October 26 in place of Wickremesinghe.

Source: PTI

Trump appointed John Abizaid as new US ambassador to Saudi Arabia

US President Donald Trump announced the nomination of retired Army Gen. John Abizaid as U.S. ambassador to Saudi Arabia.
Abizaid is a fluent Arabic speaker of Lebanese Christian descent who headed US Central Command -- which covers the Middle East -- during the Iraq war from shortly after the US invasion in 2003 through 2007.
The 67-year-old wrote his master's thesis at Harvard University about Saudi Arabia, studying how the kingdom makes its decisions on defense spending, in a paper that won acclaim in academic circles.