RBI fines Axis Bank,Indian Overseas Bank
• The Reserve Bank of India imposed a penalty of ?3 crore on Axis Bank for non-compliance of Income Recognition and Asset Classification (IRAC) norms.
• The central bank also imposed a penalty of ?2 crore on Indian Overseas Bank for non-compliance with Know Your Customer norms.
• RBI came to the conclusion that the charges of non-compliance with RBI directions and guidelines were substantiated.
Neiphiu Rio to be new Nagaland CM
• Senior NDPP leader Neiphiu Rio was appointed the new chief minister of Nagaland by Governor P B Acharya.
• The governor said he had received letters of support in Rio’s favour from 12 legislators of the BJP, one letter from the JD(U) and another from an Independent MLA, besides the 18 legislatures of the NDPP.
• The new ministry will be sworn in on March 8.
Nitin Gadkari to launch Sukhad Yatra App
• Union Minister for Road Transport & Highways, Shipping, Water Resources, River Development and Ganga Rejuvenation Shri Nitin Gadkari will launch a mobile App and Toll-free number.
• Sukhad Yatra mobile application has been prepared by NHAI, to empower the Highway user.
• A toll-free number, 1033, will enable users to report an emergency condition, or highway-related feedback, across the highway.
NITI Aayog to launch WEP on Women’s Day
• NITI Aayog will launch its Women Entrepreneurship Platform (WEP) on 8th March, on the occasion of the International Women’s Day.
• Women Entrepreneurship Platform (WEP) would provide a vibrant entrepreneurial ecosystem where women do not face any gender-based barriers.
• The theme of this year’s campaign is ‘Women and Entrepreneurship’ which will be launched in partnership with United Nations.
Iraq becomes India’s top oil supplier
• Iraq has overtaken Saudi Arabia by a wide margin to become India’s top crude oil supplier.
• Iran was India’s second biggest supplier of crude oil after Saudi Arabia till 2010-11 but western sanctions relegated it to the 7th spot in the subsequent years.
• Venezuela is India’s fourth largest supplier with 15.5 MT during April-January, followed by Nigeria with 14.9 MT
Paytm’s CEO is the youngest billionaire
• Paytm founder Vijay Shekhar Sharma (39) is the youngest Indian billionaire.
• Mr Sharma founded fast-rising mobile wallet Paytm in 2011. He has also created Paytm Mall, an e-commerce business and Paytm Payments Bank.
• Mr Sharma ranked 1,394th on the list with a fortune of $1.7 billion, is the only Indian billionaire in the under-40 league.
Jeff Bezos Is Now the Richest Person
• Amazon CEO Jeff Bezos has become the first person to amass a fortune surpassing $100 billion and richest man on earth.
• Mukesh Ambani, the energy and petrochemicals magnate, is the richest Indian.
• The world now holds more than 2,200 billionaires with a combined fortune of $9.1 trillion.
First all-women railway station in A.P.
• The South Central Railway (SCR) management named the little-known Chandragiri station near Tirupati as the “all-women railway station” in the zone.
• Chandragiri became the first station in Andhra Pradesh to get the privileged status.
• The station has four station masters, one booking clerk, one health worker and two technical positions.
New malware threat looms over cyberspace
• The cybersecurity agencies have detected a new malware called Saposhi, which is capable of taking over electronic devices and turning them into bots.
• Bots can be then used for any purpose, including a Distributed Denial Of Service attack which can cripple entire industries.
• Depending on the size of the botnet, malware can execute multiple DDOS attacks at the same time.
India to join multilateral lender EBRD
• European Bank of Reconstruction and Development(EBRD) shareholders approve India’s entry as its 69th member.
• It will enable Indian companies to undertake joint investments in regions in which the EBRD operates.
• The EBRD works with the private sector and also local governments in the provision of services and infrastructure across 38 nations.