The Reserve Bank of India (RBI) imposed Rs.1 crore penalty on private sector lender HDFC Bank for violating know your customer (KYC) and anti-money laundering (AML) norms. The penalty was imposed on 18 June 2019. Reason: RBI had received a reference from customs’ authorities regarding submission of forged bill of entries (BoEs) by certain importers to the bank for remittance of foreign currency. RBI’s examination revealed the violations of […]

Chinese President Xi Jinping is to visit North Korea for two days on 20 June.He the first Chinese leader to visit the reclusive country in 14 years. The North Korean leader Kim Jong Un invited the Chinese President for t a visit. Chinese President’s visit: The visit by Mr. Xi to Pyongyang had long been expected within diplomatic circles. The last Chinese

Amid a slowing economy and a crisis in the shadow banking sector, Prime Minister Narendra Modi is likely to meet chief executives of Indian banks on June 21 to chalk out a blueprint for the banking sector for the next five years. According to the bankers, they have been informed about the meeting, though a

The Lucknow Development Authority (LDA) is constructing a road using plastic waste for the first time ever. The road is constructed from Gomti Nagar Police Station to Indian Institute of Management (IIM) under a pilot project by LDA in Lucknow, Uttar Pradesh. The LDA has followed guidelines of the Central Road Research Institute (CRRI) in road construction. The research showed mixing plastic waste

Jagat Prakash Nadda has been made the working national president of the Bharatiya Janata Party. According to sources, the decision was taken in a BJP parliamentary board meeting which was chaired by PM Modi, BJP chief Amit Shah, senior leaders Sushma Swaraj, Ram Lal among others. Speaking on JP Nadda’s appointment, Union Defence Minister Rajnath

Researchers have found that the Island’s ice sheet has lost more than two gigatonnes (a gigaton is equal to one billion tonnes) of ice in just a day on June 13 to a widespread melting event. This is a sign that 2019 could once again set records for loss in Greenland ice. The Danish Meteorological Institute, the Greenland melting season started

Iran announced it will breach on 27 June the limit on its stockpile of enriched uranium that was set under a 2015 nuclear deal with world powers. The Country had quadrupled production of the material, which is used to make reactor fuel and potentially nuclear weapons. This is because of the sacntions levied by the US government. The US has accused Iran of nuclear extortion.  Iran urged

The Indian government has demanded Whatsapp, the Facebook-owned messaging application, to digitally fingerprint messages that are sent on its platform without breaking the encryption.  Aim: The move is to ensure traceability of all content shared through the WhatsApp platform, without reading the message. The decision is in line with draft amendments to intermediary guidelines of theInformation Technology Act released in

The 48th DG conference was held between India’s Border Security Force (BSF) and the Border Guard Bangladesh (BGB). It was concluded on 15 June at Dhaka, Bangladesh. A Joint Record of Discussion was signed by DG, BSF, Rajni Kant Mishra and DG, BGB, Major General Md Shafeenul Islam. Agreement included: Both BSF abd BGB agreed to undertake joint efforts to bring down the killing incidents to zero by increasing

Inger Andersen of Denmark is appointed as the new Executive Director of the United Nations Environment Programme (UNEP).She was nominated to the post by UN Secretary-General António Guterres. The nomination was approved by acclamation by the UN General Assembly on 20 February.  She will serve for a period of four years. Ms.Inger Andersen: Ms Andersen ia a former Director General of the