YES Bank gets SEBI nod to launch MF business

  • Yes Bank has received approval from capital markets regulator SEBI to start mutual fund business.
  • This approval comes after the Reserve Bank of India’s (RBI’s) approval granted to Yes Bank to sponsor a mutual fund.
  • This initiative will complement Yes Bank’s retail liabilities and wealth management strategy.
  • Yes Asset Management will launch fund offerings across the spectrum of both debt and equity markets over the next 6-12 months.

Nepal, India to jointly promote tourism

  • Nepal and India have decided to jointly promote historically and culturally important tourism circuits.
  • These circuits include the Ramayana and Buddhist Circuit as well as adventure tourism.
  • Both nations have decided to establish an industry-led Indo-Nepal Tourism Forum, with support of the two governments.
  • The agreement includes the improvement of tourism infrastructures such as overland road connectivity.

Justice AK Goel appointed chairperson of National Green Tribunal

  • Justice Adarsh Kumar Goel has been appointed the new Chairperson of the National Green Tribunal (NGT).
  • Goel retired from the Supreme Court of India on Friday, July 6, 2018.
  • The post of NGT chairperson had been lying vacant for more than 6 months after the retirement of Justice Swatanter Kumar on December 20, 2017.
  • Justice Umesh Dattatraya Salvi has been the acting chairperson of the NGT since Justice Swatanter Kumar retired.
  • AK Goel will have a term of five years.

ICICI Bank mortgage portfolio crosses Rs. 1.5 trillion

  • ICICI Bank has reached a milestone in terms of disbursing mortgage loans, which have exceeded Rs. 1.5 trillion.
  • It is first private sector bank in the country to achieve this, making it the largest mortgage lender among private sector banks.
  • ICICI Bank is targeting growth of its pan-India mortgage book to Rs. 2 trillion by the end of FY 2020.
  • The bank has also enabled developers to obtain approvals for their projects in a paperless manner.

Law Commission recommends regulation of betting in sports

  • The Law Commission has recommended that betting on sports should be regulated in order to curb fraud and money laundering.
  • It has recommended that the betting should be taxable under the direct and indirect tax regimes, and even that it could be used as an instrument to attract foreign direct investment (FDI).
  • The commission has suggested that Parliament should enact a model law for regulating gambling, which the states can adopt.
  • Furthermore, the suggestion is that the law should include linking of Aadhaar card and PAN card of an individual who wants to bet on such activities.

Alternative crops could save water use and increase nutrient supply in India: Study

  • A new study has said that replacing rice areas with cereals such as maize and millet could reduce irrigation water demand by 33%.
  • Doing this could also improve the nutrient output (i.e. the production of protein, iron and zinc) of the crops grown and consumed, according to the study.
  • By adopting a similar multidimensional framework, multiple sustainability goals can be simultaneously achieved, the authors of the study believe.
  • The study says that rice is the least water-efficient cereal in terms of production of key nutrients, while wheat has been the main driver of India’s increased irrigation demand.

NASSCOM opens Center of Excellence (CoE) for Data Science and Artificial Intelligence in Bengaluru

  • The National Association of Software and Services Companies (NASSCOM) has launched a Centre of Excellence (CoE) for Data Science and Artificial Intelligence (DSAI) in Bengaluru, in association with the Government of Karnataka.
  • The aim of this project is to make sure that innovation in emerging disruptive technologies such as AI is increased in the country, and to make full use of the power of data science.
  • The CoE will focus on innovation, specifically solutions in smart manufacturing, as well as automotive, healthcare, agriculture, energy, IoT, and banking and financial services.

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