Current Affairs of 25 December

1. Citi to sell Japan retail bank biz to Sumitomo
Citigroup said today it was selling its century-old Japanese retail banking operations to major lender Sumitomo Mitsui as part of an effort to shrink its consumer business globally.
Financial details were not released, but Japanese news reports estimated the deal to be worth about 40 billion yen ($333 million).
Under the agreement, Sumitomo unit SMBC Trust Bank would acquire Citibank Japan’s operations including 32 retail branches, 740,000 customers, 1,600 employees, and deposits worth 2.5 trillion yen.
The transaction is expected to be completed in late 2015.
“The sale represents another step in Citi’s strategy of further streamlining its Global Consumer Bank,” the US company said in a statement, adding that it would keep its profitable Japanese commercial banking operations.
The US firm entered the Japanese market in 1902, one of the first foreign lenders to operate in the country.
Since the US bank brought in a new chief in late 2012, it has been cutting retail operations in a host of countries, including Honduras, Turkey, Romania, and Uruguay.
In Japan, low interest rates, following years of economic slump, have squeezed retail businesses.
Two years ago British giant HSBC withdrew from retail banking in Japan and there are relatively few foreign lenders offering such services in the country.

 2. Modi visits Varanasi on Good Governance Day
 Asserting that development and good governance are the only ways ahead, Prime Minister Narendra Modi on Thursday visited his Lok Sabha constituency Varanasi as part of nation-wide Good Governance Day celebrations being held by his government.
All MPs of the ruling Bharatiya Janata Party, which Mr. Modi had steered to a comprehensive victory in the general elections earlier this year, have been asked to be in their respective Parliamentary constituencies for ‘Sushasan Diwas’ and the Prime Minister through his own visit has sought to lead by example. 

3. Union Government set up Mathur committee to examine constitution of SIT on 1984 anti-Sikh riots
Union Ministry of Home Affairs set up Mathur committee to examine the possibility of constitution of a Special Investigation Team (SIT) for reinvestigation of the 1984 anti-Sikh riot cases.
The Committee will be headed by former Supreme Court Judge Justice (retired) G.P. Mathur. It will submit its report till April 2015.
The committee will also look into the issue of implementation of the payment of enhanced compensation of 5 lakh rupees per person killed during the riots. The compensation was approved by the Union Cabinet on 10 December 2014.

4. Tourism Ministry to launch helpline, welcome card for tourists
 The much awaited helpline for tourists and ‘Welcome Card’ for foreign visitors will be launched by the Tourism Ministry tomorrow along with various other initiatives.
The bi-lingual helpline number 1800-111-363 will be made operational by Tourism Minister Mahesh Sharma, as part of Good Governance Day celebrations.
The helpline service is being operational in two languages — Hindi and English to begin with, later on the service will be available in 10 international languages including Russian, German, French and Spanish, said a senior Tourism ministry official.
There was a need for the all-India Helpline number and the ministry was keen to provide the same in backdrop of harassment and fleecing of tourists in the hands of touts and other unscrupulous elements.
A tourist (domestic/foreigner) can call the number from anywhere now if he or she wants to lodge any complaint or know about any particular tourism site, said the official.
Ministry will also launch a Welcome Card, a first of its kind, for overseas tourists.
“The card will be given to foreign visitors after their arrival at the international airports,” he said.
The Welcome Card will contain details of various emergency numbers as well as the helpline number for tourists.
“Namaste, Welcome to Incredible India. We are delighted to have you as our guest”, the card will carry this message.

5. United Bank of India launches new alternate delivery products

 Kolkata-based United Bank of India (UBI) recently launched three new ‘alternate delivery products’ that will provide more convenience to the customers. This puts the bank in the select group of banks offering the facility of online transactions (RuPay e-commerce), with RuPay debit cards.
Another product ‘TD on Missed Call’ gives the ease of investment in pre-defined Fixed Deposit (Rs10,000) by just giving a missed call on a particular number.
The other facility to have been launched includes the online PPF account maintenance, UBI said in a press release. The products were launched in the backdrop of the bank’s foundation day celebrations.

6. S Bhattacharya appointed CMD of Coal India
Senior IAS officer S Bhattacharya  was appointed as the Chairman and Managing Director (CMD) of Coal India Ltd (CIL).
He succeeded Additional Secretary (Coal) A K Dubey.  Dubey was given the additional charge as CMD of CIL on 26 June 2014.
The CIL was without a full time chief from May 2014 when S Narsing Rao had resigned from the post.
Public Enterprises Selection Board (PESB) had recommended his name in November 2014. His appointment was confirmed by Appointments Committee of the Cabinet.

7. China and Nepal signed agreement to expand the use of local currencies for border trade
China and Nepal  signed an agreement to expand the use of their currencies for border trade.
The agreement was signed between the People's Bank of China (PBOC) and Nepal Rastra Bank (NRB). The agreement will boost bilateral trade and investment ties between the China and Nepal.
According to the agreement, the two countries will use local currencies (Yuan and Nepal rupee) for settlement in both cross-border trade and ordinary trade activities.
Both the countries also signed memorandum of understanding on anti-money laundering and anti-terrorism cooperation.

8. Reliance Capital ropes in Japan’s SMTB as strategic partner
 Firming up its plans to set up a bank, Anil Ambani group firm Reliance Capital on Thursday roped in Japan’s Sumitomo Mitsui Trust Bank (SMTB) as a strategic partner to collaborate on various businesses, including in its proposed banking venture.
SMTB, Japan’s largest financial institution with assets under custody of USD 1.8 trillion, will take an initial stake of 2.77 per cent in Reliance Capital at an investment of Rs 371 crore as part of a “comprehensive long-term strategic alliance between the two companies.”
“Reliance Capital intends to establish a new bank in India, with support of Sumitomo Mitsui Trust Bank as strategic partner, as and when RBI’s policies permit formation of the same,” the two companies said in a joint statement.
SMTB and Reliance Capital, the financial services arm of diversified conglomerate Reliance Group, will also collaborate in providing solutions for their clients, including inter alia in the area of M&A opportunities in India and Japan, and will assist each other in distribution of their respective financial products through their networks.

9. Oil India commissions 5 MW solar power plant in Rajasthan
Oil India Ltd, India’s second-largest government-owned exploration firm, has commissioned its first 5 MW solar power plant in Rajasthan.
OIL, which has so far built only small solar power plants for captive use, built and commissioned its first grid connected 5 MW unit at village Raghwa in Ramgarh district of Rajasthan, the company said in a statement issued here.
The plant was inaugurated by OIL Chairman and Managing Director SK Srivastava.
OIL plans to expand this unit by another 9 MW.
Srivastava said the plant was completed within 118 days.
OIL Director (HR and Business Development) N K Bharali said there exists tremendous potential for solar and wind energy projects in Rajasthan and OIL is looking to tap the renewable energy source.
The 9 MW solar power plant expansion will be completed by next year, he said.

10. Ankita downs Serbian rival to enter semifinals
India No. 1 and fourth seed Ankita Raina kept the country’s hopes alive in singles
 in the $25,000 NECC-ITF women’s tennis tournament in progress here when she entered the semifinals after defeating Serbian rival Nina Stojanovic in straight sets on Thursday.
The 21-year-old Ahmedabad-born Ankita -- ranked 294 in the world -- kept herself firmly in the hunt for her first career title in the $25,000 category by shrugging off the challenge put up by her Serbian opponent with a clinically efficient 6-3 6-4 quarterfinal victory at the Deccan Gymkhana hard courts.
Ankita, who has to her credit four $10,000 ITF women’s titles in the past -- out of which three came her way last year -- and had risen to a career-high WTA ranking of 262 in the middle of the current year -- would meet Romanian qualifier Cristina Ene -- ranked a lowly 576 -- in the semis.
1. Citi to sell Japan retail bank biz to Sumitomo
Citigroup said today it was selling its century-old Japanese retail banking operations to major lender Sumitomo Mitsui as part of an effort to shrink its consumer business globally.
Financial details were not released, but Japanese news reports estimated the deal to be worth about 40 billion yen ($333 million).
Under the agreement, Sumitomo unit SMBC Trust Bank would acquire Citibank Japan’s operations including 32 retail branches, 740,000 customers, 1,600 employees, and deposits worth 2.5 trillion yen.
The transaction is expected to be completed in late 2015.
“The sale represents another step in Citi’s strategy of further streamlining its Global Consumer Bank,” the US company said in a statement, adding that it would keep its profitable Japanese commercial banking operations.
The US firm entered the Japanese market in 1902, one of the first foreign lenders to operate in the country.
Since the US bank brought in a new chief in late 2012, it has been cutting retail operations in a host of countries, including Honduras, Turkey, Romania, and Uruguay.
In Japan, low interest rates, following years of economic slump, have squeezed retail businesses.
Two years ago British giant HSBC withdrew from retail banking in Japan and there are relatively few foreign lenders offering such services in the country.

 2. Modi visits Varanasi on Good Governance Day
 Asserting that development and good governance are the only ways ahead, Prime Minister Narendra Modi on Thursday visited his Lok Sabha constituency Varanasi as part of nation-wide Good Governance Day celebrations being held by his government.
All MPs of the ruling Bharatiya Janata Party, which Mr. Modi had steered to a comprehensive victory in the general elections earlier this year, have been asked to be in their respective Parliamentary constituencies for ‘Sushasan Diwas’ and the Prime Minister through his own visit has sought to lead by example. 

3. Union Government set up Mathur committee to examine constitution of SIT on 1984 anti-Sikh riots
Union Ministry of Home Affairs set up Mathur committee to examine the possibility of constitution of a Special Investigation Team (SIT) for reinvestigation of the 1984 anti-Sikh riot cases.
The Committee will be headed by former Supreme Court Judge Justice (retired) G.P. Mathur. It will submit its report till April 2015.
The committee will also look into the issue of implementation of the payment of enhanced compensation of 5 lakh rupees per person killed during the riots. The compensation was approved by the Union Cabinet on 10 December 2014.

4. Tourism Ministry to launch helpline, welcome card for tourists
 The much awaited helpline for tourists and ‘Welcome Card’ for foreign visitors will be launched by the Tourism Ministry tomorrow along with various other initiatives.
The bi-lingual helpline number 1800-111-363 will be made operational by Tourism Minister Mahesh Sharma, as part of Good Governance Day celebrations.
The helpline service is being operational in two languages — Hindi and English to begin with, later on the service will be available in 10 international languages including Russian, German, French and Spanish, said a senior Tourism ministry official.
There was a need for the all-India Helpline number and the ministry was keen to provide the same in backdrop of harassment and fleecing of tourists in the hands of touts and other unscrupulous elements.
A tourist (domestic/foreigner) can call the number from anywhere now if he or she wants to lodge any complaint or know about any particular tourism site, said the official.
Ministry will also launch a Welcome Card, a first of its kind, for overseas tourists.
“The card will be given to foreign visitors after their arrival at the international airports,” he said.
The Welcome Card will contain details of various emergency numbers as well as the helpline number for tourists.
“Namaste, Welcome to Incredible India. We are delighted to have you as our guest”, the card will carry this message.

5. United Bank of India launches new alternate delivery products

 Kolkata-based United Bank of India (UBI) recently launched three new ‘alternate delivery products’ that will provide more convenience to the customers. This puts the bank in the select group of banks offering the facility of online transactions (RuPay e-commerce), with RuPay debit cards.
Another product ‘TD on Missed Call’ gives the ease of investment in pre-defined Fixed Deposit (Rs10,000) by just giving a missed call on a particular number.
The other facility to have been launched includes the online PPF account maintenance, UBI said in a press release. The products were launched in the backdrop of the bank’s foundation day celebrations.

6. S Bhattacharya appointed CMD of Coal India
Senior IAS officer S Bhattacharya  was appointed as the Chairman and Managing Director (CMD) of Coal India Ltd (CIL).
He succeeded Additional Secretary (Coal) A K Dubey.  Dubey was given the additional charge as CMD of CIL on 26 June 2014.
The CIL was without a full time chief from May 2014 when S Narsing Rao had resigned from the post.
Public Enterprises Selection Board (PESB) had recommended his name in November 2014. His appointment was confirmed by Appointments Committee of the Cabinet.

7. China and Nepal signed agreement to expand the use of local currencies for border trade
China and Nepal  signed an agreement to expand the use of their currencies for border trade.
The agreement was signed between the People's Bank of China (PBOC) and Nepal Rastra Bank (NRB). The agreement will boost bilateral trade and investment ties between the China and Nepal.
According to the agreement, the two countries will use local currencies (Yuan and Nepal rupee) for settlement in both cross-border trade and ordinary trade activities.
Both the countries also signed memorandum of understanding on anti-money laundering and anti-terrorism cooperation.

8. Reliance Capital ropes in Japan’s SMTB as strategic partner
 Firming up its plans to set up a bank, Anil Ambani group firm Reliance Capital on Thursday roped in Japan’s Sumitomo Mitsui Trust Bank (SMTB) as a strategic partner to collaborate on various businesses, including in its proposed banking venture.
SMTB, Japan’s largest financial institution with assets under custody of USD 1.8 trillion, will take an initial stake of 2.77 per cent in Reliance Capital at an investment of Rs 371 crore as part of a “comprehensive long-term strategic alliance between the two companies.”
“Reliance Capital intends to establish a new bank in India, with support of Sumitomo Mitsui Trust Bank as strategic partner, as and when RBI’s policies permit formation of the same,” the two companies said in a joint statement.
SMTB and Reliance Capital, the financial services arm of diversified conglomerate Reliance Group, will also collaborate in providing solutions for their clients, including inter alia in the area of M&A opportunities in India and Japan, and will assist each other in distribution of their respective financial products through their networks.

9. Oil India commissions 5 MW solar power plant in Rajasthan
Oil India Ltd, India’s second-largest government-owned exploration firm, has commissioned its first 5 MW solar power plant in Rajasthan.
OIL, which has so far built only small solar power plants for captive use, built and commissioned its first grid connected 5 MW unit at village Raghwa in Ramgarh district of Rajasthan, the company said in a statement issued here.
The plant was inaugurated by OIL Chairman and Managing Director SK Srivastava.
OIL plans to expand this unit by another 9 MW.
Srivastava said the plant was completed within 118 days.
OIL Director (HR and Business Development) N K Bharali said there exists tremendous potential for solar and wind energy projects in Rajasthan and OIL is looking to tap the renewable energy source.
The 9 MW solar power plant expansion will be completed by next year, he said.

10. Ankita downs Serbian rival to enter semifinals
India No. 1 and fourth seed Ankita Raina kept the country’s hopes alive in singles
 in the $25,000 NECC-ITF women’s tennis tournament in progress here when she entered the semifinals after defeating Serbian rival Nina Stojanovic in straight sets on Thursday.
The 21-year-old Ahmedabad-born Ankita -- ranked 294 in the world -- kept herself firmly in the hunt for her first career title in the $25,000 category by shrugging off the challenge put up by her Serbian opponent with a clinically efficient 6-3 6-4 quarterfinal victory at the Deccan Gymkhana hard courts.
Ankita, who has to her credit four $10,000 ITF women’s titles in the past -- out of which three came her way last year -- and had risen to a career-high WTA ranking of 262 in the middle of the current year -- would meet Romanian qualifier Cristina Ene -- ranked a lowly 576 -- in the semis.

No comments:

Post a Comment