♠The Hindu Review♠
♦ RBI imposes penalties of 2 crore on IDBI and Rs 1 crore on Dena Bank
- The Reserve Bank has imposed a monetary penalty of 2 crore on Dena Bank and 1 crore on IDBI Bank for non-compliance with various directions, regulatory filings said Saturday.
- In a filing to the BSE, Dena Bank said the Reserve Bank has imposed a penalty of Rs 20 million on it for non-compliance with the directions issued on February 20, 2018.
- In a separate filing, IDBI Bank said the Reserve Bank of India (RBI) has imposed a monetary penalty of 10 million on the Bank for contravention of its regulatory directions on time-bound implementation and strengthening of SWIFT related operational controls.
- “The Bank has put in place necessary corrective actions to strengthen its internal control mechanisms so as to ensure that such incidents do not recur,” IDBI Bank said.
♦ Ex-Finance Secretary Hasmukh Adhia appointed non-executive chairman of BoB
- Former Finance Secretary Hasmukh Adhia was appointed as non-executive chairman of Bank of Baroda on Friday, according to a Personnel Ministry order.
- The Appointments Committee of the Cabinet has approved his appointment as part-time non-official director as well as non-executive chairman on the board of Bank of Baroda for a period of three years, it said.
- Adhia, a 1981-batch IAS officer of Gujarat cadre, superannuated on November 30 last year. He last served as the Finance Secretary.
♦ ADB to provide highest ever $926 mn infra loan for Mumbai metro
- The Asian Development Bank will provide a record $926 million (around Rs 6,500 crore) to operationalise two lines of the Mumbai Metro Rail System, said an official statement Friday. The two lines are expected to ease the distress of millions of commuters each day and help provide a cleaner, less congested city, the release said after the loan agreement was signed between ADB and the central government here.
- “The single largest infrastructure project loan in ADB history – approved by the ADB Board on February 26 — will help fund lines 2A (Dahisar to D.N. Nagar), 2B (D.N. Nagar–Bandra–Mandale), and 7 (Dahisar [East] to Andheri [East]), totaling about 58 kilometers (km),” it said.
- The project will fund 63 six-car trains, signalling and safety systems, and help establish a new dedicated metro operations organisation to manage the entire metro network in Mumbai.
- The Mumbai Metropolitan Region Development Authority (MMRDA) will implement the project.
♦ ‘Centre for Disability Sports’ to be set up at Gwalior”
- A‘Centre for Disability Sports’will be set up at Gwalior in Madhya Pradesh. The proposal regarding setting up of it has been approved by the Government. It will be registered under the Societies Registration Act, 1860, which is to function under the name of Centre for Disability Sports, Gwalior.Improved sports infrastructure created by this Centre will ensure effective participation of Persons with Disabilities (PwDs) in sports activities and also enable them to compete at national and international levels. Setting up of the Centre will develop a sense of belonging in Divyangjan to facilitate their integration in society.
- Taking 1st April, 2019 as the zero date, the project is expected to be completed in two yeartime, i.e, by 31st March, 2021. Thereafter, it will take another 6 months for the Centre to become operational.Once operational, this Centre will result in employment of 140 personnel. In addition, construction and allied activities will also generate considerable employment opportunities.Setting up of the Centre shall entail an estimated cost of Rs 170.99 crore (Non-recurring Rs.151.16 crore and Recurring Rs 19.83 crore),spread over a period of 5 years.
♦ Prayagraj Kumbh Mela 2019 makes it to the Guinness World Records
- Prayagraj Kumbh Mela 2019 has been placed in the Guinness World Records in three sectors. It includes largest traffic and crowd management plan, the biggest painting exercise of public sites under paint my city scheme and biggest sanitation and waste disposal mechanism. A three member team from Guinness World Records visited the Prayagraj for this purpose. Exercise at large scale were done before the team members for three days from February 28 to March 3. Around 503 shuttle buses were pressed into service in one go for the team on February 28 on the highway. Several people participated in painting exercise on March 1 and 10 thousand workers engaged in cleaning at Prayagraj Kumbh performing their duties all together.
- Only a single bathing festival of Mahashivratri of the six main bathing festivals remains. Five bathing festivals of the Kumbh have concluded successfully with more than 22 crore pilgrims taking a holy dip.
♦ PM launches many development projects in Amethi
- The latest series of the iconic Kalashnikov rifles will be made in the Korwa Ordnance Factory.
- A shining example of Make in India, the joint venture will bolster the armed forces in the country and will strengthen national security. The factory will also generate employment opportunities in Amethi and nearby areas. The Joint venture will give a tremendous boost to the UP Defence Corridor project. Prime Minister said that this is the best example not only of Made in India but also Made in Amethi.
- Prime Minister also attacked the previous governments for stalling the modernization of defence forces.
- PM also unveiled 17 development projects worth Rs 538 crores. These relate to power generation, education, health, and manufacturing sectors. These projects will be of direct benefit to Amethi region as well as Uttar Pradesh.
♦ DRDO chairman wins missile systems award
- The American Institute of Aeronautics and Astronautics (AIAA) has selected G. Satheesh Reddy, the Secretary of India’s Department of Defence R&D and Chairman of the Defence
- Research and Development Organisation (DRDO) as the co-winner of the 2019 Missile Systems Award.
- “Dr. G. Satheesh Reddy, Chairman of the DRDO, Ministry of Defence, India, was selected for his over three decades of significant national contributions toward indigenous design, development, and deployment of diversified strategic and tactical missile systems, guided weapons, advanced avionics, and navigation technologies in India,” AIAA said.
- “He is the first person outside the USA to be awarded with this prestigious award in nearly four decades,” a Defence source said. Dr. Reddy will share the prize with Rondell J. Wilson, a former Principal Engineering Fellow of Raytheon Missile Systems.
♦ Cricket set for Asian Games return in 2022
- Cricket is set for a return at the Asian Games after the Olympic Council of Asia (OCA) on March 3 included it in the sports programme for the 2022 edition in Hangzhou.
- The decision was taken at the OCA’s General Assembly in Bangkok.
- “Yes, cricket has been included in the sports programme for 2022 Hangzhou Games,” OCA honorary vice-president Randhir Singh told PTI.
- Cricket was dropped from the 2018 Asian Games in Indonesia after featuring in 2010 and 2014, albeit without the presence of game’s powerhouse India. India opted out of the quadrennial event owing to the team’s congested scheduling.
- In all probability, the T20 format will be played at the Asian Games, like it happened during the 2010 and 2014 edition in Guangzhou and Incheon respectively.
♦ Swiss star Roger Federer creates history with 100th career title
- Roger Federer has won his 100th ATP Tour title at the Dubai Tennis Championships – 6,600 days after winning his first in Milan.
- The 37-year-old Swiss – a 20-time Grand Slam champion – beat Greece’s StefanosTsitsipas 6-4 6-4.
- Federer’s first ATP title came at the Milan Indoors on 4 February, 2001, when he beat Frenchman Julien Boutter.
- He is just the second man, after American Jimmy Connors in 1983, to reach the landmark.
- Federer will have to win 10 more titles to beat Connors’ men’s record of 109.
♦ Former Nepal Deputy PM Bharat Mohan Adhikari passes away
- Adhikari, was admitted to a hospital in Kathmandu following lung and chest complications. He died on Saturday night. Adhikari also served as Finance Minister.
- He was very popular among the common people for introducing “Aafno Gaun Aafai Banau”, a development programme aimed at developing villages across the country by giving them the authority to select local projects on their own. The scheme was launched in 1995 when he was Finance Minister in Manmohan Adhikari government.
- Prime Minister and NCP Co- Chair KP Sharma Oli has expressed condolences on the demise of Adhikari. Former Prime Minister and Co-Chairman of NCP Pushpa Kamal Dahal Prachanda has also expressed his condolences.
♦ Russian Nobel physics prize winner Zhores Alferov passes away at 88
- Russian scientist Zhores Alferov, who won the Nobel physics prize for his work in semi-conductor and laser technologies, has died, agencies said on Saturday. He was 88.
- When Alferov took the prize in 2000, he was the first Russian to win a Nobel since Soviet leader Mikhail Gorbachev was given the peace award in 1990.
- The victory provided a boost for the post-Soviet Russian sciences.
- “Zhores Alferov died today,” his wife said in comments carried by Russian media.
- The physicist was also a Communist deputy in the lower house of parliament.
- Alferov was honoured for his pioneering work with technology now used in everything from satellites to mobile phones and bar-code scanners.
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