BUSINESS


Monthly Current Affairs September 2016 “BUSINESS” key points to Remember.
Digital payments platform, MobiKwik andSamagra, an NGO serving urban poor launched“MGullak”
in Pune to promote the habit of savings among Urban Poor.
Tech giant Microsoft is setting up a cyber security centre in the heart of New Delhi to arm
governments and private agencies with all-round intelligence on cyber attacks within India.
South Korea’s LG Electronics Inc is partnering with Amazon.com Inc on smart-home services,
enabling the Amazon services such as the Alexa virtual assistant on some of the electronics maker’s
devices.
Infosys , a global leader in consulting, technology and next-generation services, announced the launch
of Skava Commerce, a modern, mobile-first and modular e-commerce platform that delivers
engaging omni-channel experiences.
HCL and IBM have entered a 15-year partnership for automation and development and operations.
This partnership will enable the both companies to focus their technical teams on native cloud and
cognitive solutions, as well as industry-specific opportunities.
Tech giants Microsoft and Adobe announced a major partnership to promote the use of each other’s
cloud-computing tools among their mutual customers.
Sun Pharma signs deal with ICGEB to develop India’s first dengue vaccine
Facebook, Amazon, Google, IBM and Microsoft— have joined hands to announce a historic
partnership on AI and machine learning.
Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval
for closure of Hindustan Cables Limited (HCL), Kolkata as per the provisions of the Companies Act,
1956/2013, Industrial Disputes Act, 1947 and other relevant Acts.
The Competition Commission of India fined 11 cement companies and their lobby group Cement
Manufacturers Association (CMA) to a sum of Rs 6,714 crore for alleged cartelization. These cement
companies includes ACC, Lafarge, Ultratech, Jayprakash Associates, Binani and their trade
association the Cement Manufacturers Association (CMA) on charges of cartelization in the sector.
BHEL has commissioned the fourth and last unit of the 4×40 MW Teesta Low Dam Hydro Electric
Project (HEP) Stage-IV in West Bengal.
US based tech giants Microsoft, Google and Sales force have officially adopted the EU-US Privacy
Shield framework which enables these majors to receive personal data from the European Union (EU)
in agreement with the new standards.
TCS has partnered with Thanjavur-based SASTRA Deemed University to train over 2,000 teachers
from Tamil Nadu on digital teaching methods.
TCS unveils new unemployment insurance system to provide unemployment insurance by the
Mississippi, Rhode Island and Maine Consortium to help unemployed individuals. Mississippi is
the first state to launch this kind of Unemployment Insurance System.
A major big defence corruption probe is prepared to come to India. It’s a joint US Brazil
investigation into bribery charges against Brazilian aircraft manufacturer Embraer that has been
expanded to include the sales made to India.
The first Cyber security Index launched by Kaspersky Lab to measure the current cyber threat
levels faced by Internet users.The Kaspersky Cyber security Index is based on the data, collected from
thousands of users across the globe in 21 countries in August 2016.The index will combine three
indicators which will be measured every six months to assess the level of risk.
Government has issued fresh flexi-fund guidelines that is given more freedom to states in spending
money under the Centrally Sponsored Schemes (CSS) to meet local developmental
requirements. Under the new norms, flexi-funds in each CSS has been increased from the
current 10%to 25% for states and 30% for Union Territories.
BankBazaar.com, India’s leading financial marketplace, had launched the world’s first multi-brand,
paperless e-KYC platform for instant loan approval
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, had
approved the proposal of Department of Consumer Affairs on enhancing the buffer stock for pulses up
to 20 lakh tonnes.
The Punjab Cabinet today decided to abolish the stamp duty of 2% levied on immovable
property while awarding the power of attorney.
Hindustan Aeronautics Limited (HAL) has been conferred the prestigious membership of the AsiaPacific
Aerospace Quality Group (APAQG) under the category ‘Full Member with voting
rights’. India, the seventh nation to join the APAQG under TRHE International Aerospace Quality
Group (IAQG).
Union Government had notified new import policy for marble & travertine blocks with effect
from October 1, 2016. The Minimum Import Price (MIP) for marble blocks had been reduced to 200 US dollar per metric ton. The basic customs duty on import of marble and travertine blocks had been
increased from 10% to 40% to address the interest of domestic producers.
NTPC has signed a pact with Energy Efficiency Services Ltd (EESL) to implement energy efficient
LED lighting solutions for all its projects, stations and offices across the country. EESLis the
implementing agency for both the programmes – Domestic Efficient Lighting Programme (DELP)
and Street Lights.
Rays Power Infra will set up a 100 mw solar power plant in Uttarakhand under Uttarakhand
Renewable Energy Development Agency’s (UREDA) competitive bidding for 2015-16.
Adani Green Energy Ltd is connected the 648 mega watt (MW) solar power plant to 400 KW
substation of Tantransco at Kamuthi in Ramanathapuram district, Tamil Nadu.
India’s largest e-commerce company Flipkart currently had 100 million registered users to becomes
the first company to reach this milestone in a single country outside the US and China.