T.N., Telangana, M.P. to issue UDAY bonds:
Madhya Pradesh, Tamil Nadu and Telangana will issue UDAY bonds on a private placement basis to raise a total of Rs.18,107.93 crore. The scheme has been introduced by the government to bail out loss making power utilities. Tamil Nadu will offer securities worth Rs.8,815 crore under the Ujjwal Discom Assurance Yojana (UDAY) scheme; Madhya Pradesh Rs.7,360 crore and Telangana Rs.1,932.93 crore.
Yogi Adityanath to be the new UP Chief Minister:
Priest-turned politician Yogi Adityanath, the controversial mascot of hardline Hindutva, was named as next Chief Minister of Uttar Pradesh, in a move by the BJP. Adityanath, who lacks administrative experience, will be the 21st chief minister of UP and the fourth from the saffron party.
Sanjauli Police post linked with CCTNS:
Sanjauli is the main city of Shimla, Himachal Pradesh. Sanjauli police post became the first police force in the country to be linked with Crime and Criminal Tracking Network and systems. The system will facilitate people in lodging online/offline complaints, police verification of job applicants’ tenants.
Stronger Prohibition Bill in Gujarat gets nod:
The Gujarat Prohibition (Amendment) Bill, 2017, which aims at giving more teeth to the present liquor law, was approved by Governor O.P. Kohli. The Bill proposes an increase in jail term for bootleggers.
Coal India seeks EoI for coal to liquid project:
Coal India, the state-owned coal miner and also worlds largest announces to float an Expression of Interest (EoI) for coal to liquid (CTL) project at Chatar. The central Coalfield project will be a CTL, also known as auto-fuel with an investment potential of Rs. 10000-20000 crore with new age refineries.
Nation’s solar power capacity to target above 20GW in next 15 months:
India has set target to cross 20GW solar power generation in next 15 months from the current capacity of 10GW which is 4 times the current production has been installed before three years.
Multibrand retail outlets gets relax in norms:
The Union Government is weighing the option of permitting overseas retailers to open stores that would sell only “Made in India” products to relax the norms for multibrand retail for attracting more funds and to generate more jobs. Tesco has received approval for opening stores under this policy.
9.2 km, India’s largest Road tunnel to open:
India’s longest road tunnel, built at stretch of 9.2 km tube tunnel in Jammu & Kashmir, which is part of a 286 km four-lane project from Chennai to Nashri located at an elevation of 1200 metre with world-class integrated tunnel control system. The Road tunnel on the Jammu-Srinagar National Highway will open to traffic very soon.
China, Saudi Arabia signs $65 billion in cooperation deals:
China and Saudi Arabia have signed a memorandum of understanding on investment cooperation valued at USD 65 billion and involving 35 cooperative projects. The agreement followed talks between Saudi King Salman and President Xi Jinping in Beijing. Saudi Arabia’s state-owned oil producer, Aramco, is a partner with state-owned China Petroleum & Chemical Corp.
Indian Railways signed agreement with Australian Research centre:
In order to support future research and technology related to critical infrastructure in India, a railway research center in Australia has entered into an agreement with the Indian Railways. Establishment of a new applied research and development institute in India, SRESTHA (Special Railway Establishment for Strategic Technology & Holistic Advancement) will be guided by them.
Pledge on climate change dropped by G-20 Nations
Finance ministers from the world’s biggest economies dropped the pledge of anti-protectionism and a vow on action against climate change after U.S refused to sign the consignment. After the two-day meet, the conspicuous omission came amid a push by U.S President Donald Trump to pursue an “American First Policy”.
Banking & Business
UBI gets Rs. 418-cr capital infusion:
United Bank of India has received a capital infusion of Rs. 418 crore from the Centre under its turnaround-linked capital infusion plan. According to a notification to the bourses, the public sector lender said this proposal for allotment of equity shares of face value of Rs. 10 each at a premium to the Central Government by way of preferential allotment will be placed before the board of directors at a meeting scheduled on March 27.
ESAF Small finance bank launched in Kerala:
Evangelical Social Action Forum is a small finance bank inaugurated by chief minister pinarayi Vijayan of Kerala. R. Prabha will be the new head of the of the ESAF bank, the bank is headquartered at Thrissur, Kerala. The bank will launch a new social deposit scheme Hridaya Deposits.
Apple to add two more R&D centres in China:
Apple will set up two new research and development centres in Shanghai and Suzhou in China. Apple said it is adding the two new locations after the two previously announced centres in Beijing and Shenzhen. It has pledged to invest more than 3.5 billion yuan ($508 million) in R&D in China.
New Chief Justice of MP High Court takes charge:
Justice Hemant Gupta has taken oath as the Chief Justice of Madhya Pradesh High court. He was in charge of officiating Patna High court. Governor O.P.Kohli administered the oath of office to the new Chief Justice.
Historic Events of the Day
March 17th is World sleep Day:
World sleep day is intended to be a celebration of sleep and a call to action on important issues related to sleep. It is celebrated on the Friday of the second full week of March every year. Theme of World Sleep Day 2017 is “Sleep Soundly, Nurture life”.
Kuznetsova stuns World No. 3 Pliskova:
Svetlana Kuznetsova toppled World No. 3 to book an all-Russian Indian Wells final against Elena Vesnina. World No. 8 Kuznetsova is back in the Indian Wells final for the first time since back-to-back runner-up finishes in 2007 and 2008.
Former Arunachal Minister passes away:
Former Arunachal Pradesh Minister Nurang Tazap died in a city hospital at Guwahati. Tazap, who represented Doimukh Assembly constituency.
Meteorologist Sikka passes away:
Dev Raj Sikka, former director of the Indian Institute of Tropical Meteorology, Pune, who first proposed a link between the El Nino phenomenon and the Indian monsoon, died of a cardiac arrest. He was 85.