1 August 2017

Hyderabad-RCEP trade negotiating Committee meeting

19th round of the Regional Comprehensive Economic Partnership (RCEP) Trade Negotiating Committee (TNC) meetings and other related meetings were held from 17th to 28th july 2017 in Hyderabad, India. Rita Teaotia, Secretary, Department of Commerce, Government of India inaugurated by this meeting.

123rd Amendment Bill passed with amendment in Rajya Sabha

Constitution 123rd Amendment Bill, 2017 for setting up of a National Commission for Backward Classes was passed by Rajya Sabha after dropping an important clause. Rajya Sabha passed the bill by dropping Clause 3 which pertains to the insertion of a new article 338B about the constitution and powers of the National Commission for Backward Classes. One amendment sought increase in the number of members of the proposed commission from three to five with reservation for a member from a minority community and another for women. Another amendment spoke about protecting the rights of states by making their recommendations binding.

MMR vaccination campaign launched in Kangra

A campaign to protect children from major childhood diseases like measles, mumps and rubella has been started in Kangra district of Himachal Pradesh from August 1, 2017. The campaign has been initiated by Dharamshala Municipal Corporation Mayor Rajni Vyas. All government and private schools as well as aanganwaadis shall be covered under the programme by well-trained health officials.

China opens its first overseas Military base in Djibouti

Five Chinese formations and Djibouti’s Three Services HonorGuard took part in the launch ceremony on 1st of August 2017. The base is set to enable China to better support its patrols in waters China opens its first overseas Military base in Djiboutioff Somalia and Yemen and carry out international humanitarian operations as well as naval exercises. Djibouti is a tiny East African nation of around 887,000 people, is between Ethiopia, Eritrea, and Somalia. The US Navy maintains a sizeable expeditionary base, Camp Lemonnier, at Djibouti’s Ambouli International Airport

Airtel Payment Bank ties up with HPCL for ATM services

Under which 14,000 HPCL fuel stations will act as banking points for Airtel Payments Bank. It also offer facilities such as opening of account, cash deposit and cash withdrawal to the payment bank’s customers. These cashless payments can be made via smartphones (MyAirtel App) as well as feature phones (USSD). Airtel payment bank giving interest @ 7.25% per annum on deposits in savings accounts.

India-Bhutan New Trade and Transit agreement come into force

The agreement was last renewed on 29th July 2006 for ten years. The agreement provides for a free trade regime between the territories of India and Bhutan. The validity of the same was extended (with effect from July 29, 2016) for one year or till the new agreement comes into force, through the exchange of diplomatic notes. It aims to further strengthen the bilateral trade relations between both countries.

Mukesh Ambani becomes Asia’s 2nd richest person

Reliance Industries Chairman Mukesh Ambani has become Asia’s 2nd richest person announced on 1st of August 2017.Ambani Net worth is $35.2 billion. According to the Bloomberg Billionaires Index, Ambani’s wealth has seen a rise of $12.1 billion with the oil-to telecom conglomerate’s shares. According to government data Jio took just nine months after launching with a free introductory offer to rope in 117.3 million users and become India’s fourth-largest operator.

NITI Aayog Vice Chairman Arvind Panagariya resigns

Arvind Panagariya, the first vice-chairman of NITI Aayog announced his resignation from office on 1st of August 2017. He is an economist and a professor of economics at Columbia University. Panagariya has also worked for the World Bank, International Monetary Fund, World Trade Organisation, and the United Nations Conference on Trade and Development (UNCTAD) in various capacities.

Sameer Garde named Cisco president for India, Saarc region

Tech giant Cisco has named Sameer Garde as President for its India and Saarc operations announced on 31st of July 2017. He will be responsible for Cisco’s senior-level external engagement, including those with government and industry associations

Jeep Compass SUV launched in India

The all-new Jeep Compass SUV has been finally launched in India with prices starting at a very competitive Rs. 14.95 lakh for the entry-level Sport petrol and goes up to Rs. 20.65 lakh (ex-showroom) for the range-topping diesel. The all-new Jeep Compass SUV will be offered in a total of three variants – Sport, Longitude and Limited. The company has already secured bookings of over 5000 units and 38000 enquiries for Compass.