1. PM inaugurates birth centenary celebrations of Rani Gaidinliu
Prime Minister Narendra Modi inaugurated birth centenary celebrations of freedom fighter Rani Gaidinliu. On this occasion he launched commemorative coin of 100 rupees and circulation coin of 5 rupees of Rani Gaidinliu to mark her birth centenary celebrations.
2. Girish Sahni assumed charge as Director General of CSIR
Girish Sahni assumed charge as the Director General of the Council of Scientific and Industrial Research (CSIR) with effect from the 24 August 2015. Additionally, Sahni will also serve as Secretary, Department of Scientific & Industrial Research, Union Ministry of Science & Technology.
Previously, Sahni had been the Director of CSIR-Institute of Microbial Technology (CSIR-IMTECH), Chandigarh.
3. Rajasthan Government approved Arogya Rajasthan campaign
Rajasthan State Cabinet chaired by Chief Minister Vasundhara Raje approved the launch of Arogya Rajasthan campaign. The campaign will be held from December 2015 to March 2016.
The three-month campaign will help in collection and compilation of health data of the rural population in the state. During the campaign, the rural residents would be issued health cards based on spot diagnoses. The cards would be used for further treatment and follow-up of patients.
The cabinet also approved a drive to collect health information of citizens to build an online datatbase, which will be held between 15 September and 31 October 2015. The campaign Health camps will be organised at gram panchayat level and every citizen will be issued a Health Card.
4. PayU India tied-up with redBus to attract customers to use its wallet PayU Money
PayU India on 25 August 2015 tied-up with online bus ticketing platform redBus to offer cash-back discounts to customers who use its wallet PayU Money to buy tickets.
Today, around 50 percent of bookings on redBus are through the PayU Wallet. This tie-up is expected to increase the wallet customers from the current 5 million users to 20 million by 2015 end. However, payments on redBus can also be made with credit and debit cards, net banking and cash on delivery.
Established in 2011, PayU India is part of Naspers Group which owns companies such as red-Bus, OLX and Goibibo. The company is now forming similar alliances in the travel booking space and integrating with sites such as Makemytrip, Goibibo and Cleartrip.
5. Union Government launches ‘Sehat’ to provide healthcare facilities in rural areas
Union Government has launched a telemedicine initiative dubbed as Sehat to provide healthcare facilities in rural areas in collaboration with Apollo Hospitals. This telemedicine initiative was launched by Union Communication and IT Minister Ravi Shankar Prasad at a function held in New Delhi.
It will seek to provide quality and affordable healthcare services as it is one of the emerging needs of citizens in rural areas. Under the Sehat initiative people will be able to consult doctors through video link i.e. Vice over Internet Protocol (VoIP) and also order generic drugs. It will use Common Service Centres (CSCs) for delivering tele-consultation services with support from Medanta and Apollo Hospitals in some areas. CSCs will promote sale of generic drugs through collaboration with Union Health Ministry by setting up Jan Aushadhi Stores and also provide diagnostic services. This initiative has been extended to 60,000 centres across the country for the telemedicine consultation services in the rural areas.
6. ICICI Bank unveils first guarantee-backed home loan product
ICICI Bank, India’s largest private sector bank, has announced the launch of the country’s first ‘mortgage guarantee’ backed home loans for first time borrowers in the affordable housing segment.
‘ICICI Bank Extraa Home Loans’ will allow a borrower to increase the loan amount by up to 20 per cent of the original loan amount and also the option to extend the repayment period up to 67 years of age.
This extension of loan amount and tenure will come at a premium upfront fee of 1-2 per cent of the entire loan amount, including the incremental component.
The facility will be suitable to largely middle-aged, salaried and self-employed individuals with seasonal income seeking home loans of a maximum amount of Rs. 75 lakh.
Such loans will be available in four cities, Greater Mumbai, NCR, Bengaluru and Surat, at present.
ICICI Bank has launched this initiative in association with India Mortgage Guarantee Corporation (IMGC), which will guarantee the incremental risk on the default, Sabharwal said adding that such products are popular in the US and Canada.
IMGC is a joint venture between National Housing Bank, an RBI subsidiary which regulates housing finance companies in India; NYSE-listed Genworth Financial; International Finance Corporation; and Asian Development Bank.
7. India's state-owned LIC buys 86% of Indian Oil shares on offer
State-owned Life Insurance Corporation of India, bought 86 percent of shares on offer, in state-run Indian Oil Corp this week, salvaging a $1.4 billion government sale, as the Indian market took its biggest tumble in more than six years.
LIC, India's biggest investor, has in the past dug into its pockets to prop up government sales, buying up state banks and government mining firms. It heavily supported the sale of Coal India shares in January and the sale of shares in Steel Authority of India (SAIL) last year.
The investments have sometimes proved fruitful for LIC, with stock in the State Bank of India, which was invested in January 2014, up more than 60 percent.
8. India to host Commonwealth weightlifting for first time
or the first time in the history of weightlifting, an individual international tournament will be organised in India when it hosts the Commonwealth Youth, Junior and Senior Weightlifting Championships in Pune, Maharashtra from October 11-15.
India will field 40 weightlifters- 11 youth (boys & girls), 16 junior (men & women) and 13 senior (men & women) in the Commonwealth Championships.
Meanwhile, five weightlifters will take part in the 26 Women & 45 Men Senior Asian Weightlifting Championships to be held in Phuket, Thailand from September 3-12.
Another two weightlifters will represent India in the 5th Commonwealth Youth Games to be held at Apia, Samoa from September 3-12.