The Hindu Review Daily Gk Update : 20th March 2019
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♦ In a first, woman bags Abel Prize for maths
- The Abel Prize in mathematics was on Tuesday awarded to Karen Uhlenbeck of the U.S. for her work on partial differential equations, the first woman to win the award, the Norwegian Academy of Science and Letters said.
- “Karen Uhlenbeck receives the Abel Prize 2019 for her fundamental work in geometric analysis and gauge theory, which has dramatically changed the mathematical landscape,” said Abel Committee chairman Hans Munthe-Kaas.
- “Her theories have revolutionised our understanding of minimal surfaces, such as those formed by soap bubbles, and more general minimisation problems in higher dimensions,” he said.
- Ms. Uhlenbeck, 76, is a visiting senior research scholar at Princeton University, as well as visiting associate at the Institute for Advanced Study (IAS), both in the U.S.
♦ SBI inks pact with Bank of China for business opportunities
- The country’s largest lender SBI Tuesday said it has signed a pact with the Bank of China to boost business opportunities.
- SBI has signed a memorandum of understanding (MoU) with Bank of China, third-largest bank in the world by capital size and one of the major players in the Chinese banking sector, to enhance business synergies between both the banks, State Bank of India (SBI) said in a release.
- Through this pact, both SBI and BoC will gain direct access to their respective markets of operation, it said.
- Both banks’ clients will be able to use the vast combined network to expand their businesses abroad.
- SBI said it has a branch in Shanghai and BOC is opening its branch in Mumbai.
♦ Fortis Healthcare appoints Ashutosh Raghuvanshi as MD and CEO
- Fortis Healthcare Tuesday said it has appointed Ashutosh Raghuvanshi as Managing Director and Chief Executive Officer of the company with immediate effect.
- The company’s board of directors have approved the appointment of Raghuvanshi as MD and CEO with immediate effect for a period of three years, This is subject to the approval of shareholders of the company, it added.
♦ Justice Pinaki Chandra Ghose appointed India’s first Lokpal
- Former Supreme Court judge Justice Pinaki Chandra Ghose was on Tuesday appointed the country’s first Lokpal — the national anti-corruption ombudsman. This comes five years after the Lokpal Act received the President’s nod on January 1, 2014.
- Former Sashastra Seema Bal (SSB) chief Archana Ramasundaram, ex-Maharashtra Chief Secretary Dinesh Kumar Jain, Mahender Singh and Indrajeet Prasad Gautam have been appointed as non-judicial members of Lokpal, reports PTI.
♦ Maldives sign agreement with Exim Bank to finance new government’s infrastructure projects
- Maldives finance ministry has signed an agreement with India’s Export-Import bank (EXIM) for line of credit (LOC) of 800 million US dollars to finance the new government’s infrastructure projects.
- Maldives Finance Minister Ibrahim Ameer told media that the agreement with EXIM Bank was signed in presence of External Affairs Sushma Swaraj two-day visit to Male which concluded on Monday.
- He said the concessional loans will be used to provide water and sewerage services on several islands.
- The LOC is part of 1.4 billion US dollars finance assistance announced by Indian government during President Ibrahim Mohamed Solih’s state visit in December.
- The EXIM Bank loans come with a 1.75 percent interest rate and a 15-year repayment period after five years of moratorium.
- The finance minister said detailed proposals for water and sewerage projects on 30 islands have been shared with the EXIM Bank.
♦ Indo-Sri Lanka joint Exercise Mitra shakti-VI
- Exercise MITRA SHAKTI is conducted annually as part of military diplomacy and interaction between armies of India & Sri Lanka. The joint exercise for the year 2018-19 will be conducted from 26 March to 08 April 2019 in Sri Lanka. Troops from 1st Battalion the BIHAR Regiment of the Indian Army and Gemunu Watch Battalion of Sri Lankan Army would be jointly undertaking the exercise.
- The aim of the exercise is to build and promote close relations between armies of both the countries and to enhance ability of joint exercise commander to take military contingents of both nations under command. The exercise will involve tactical level operations in an international Counter Insurgency and Counter Terrorist environment under United Nations mandate. Exercise MITRA SHAKTI-VI will go a long way in further cementing relationship between both the nations and will act as a catalyst in bringing synergy and cooperation at grassroots levels between both the armies.
♦ President of India presents Gallantry Awards
- The President of India, Shri Ram Nath Kovind, presented Gallantry Awards and Distinguished Service Decorations at the Defence Investiture Ceremony held at Rashtrapati Bhavan (March 19, 2019).
♦ IBBI, SEBI sign MoU for better implementation of IBC
- The Insolvency and Bankruptcy Board of India (IBBI) signed a Memorandum of Understanding (MoU) today with the Securities and Exchange Board of India (SEBI).
- The IBBI and the SEBI seek effective implementation of the Insolvency and Bankruptcy Code, 2016 (Code) and its allied rules and regulations, which have redefined the debt-equity relationship and aims to promote entrepreneurship and debt market. They have agreed under the MoU to assist and co-operate with each other for the effective implementation of the Code, subject to limitations imposed by the applicable laws.
- The MoU provides for:
(a) sharing of information between the two parties, subject to the limitations imposed by the applicable laws;
(b) sharing of resources available with each other to the extent feasible and legally permissible;
(c) periodic meetings to discuss matters of mutual interest, including regulatory requirements that impact each party’s responsibilities, enforcement cases, research and data analysis, information technology and data sharing, or any other matter that the parties believe would be of interest to each other in fulfilling their respective statutory obligations;
(d) cross-training of staff in order to enhance each party’s understanding of the other’s mission for effective utilisation of collective resources;
(e) capacity building of insolvency professionals and financial creditors;
(f) joint efforts towards enhancing the level of awareness among financial creditors about the importance and necessity of swift insolvency resolution process of various types of borrowers in distress under the provisions of the Code, etc.
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