Rail budget 2016-17 presented by Rly minister Suresh Prabhu

  • He outlined the 3 pillars of strategy – raise new revenues, raise productivity and efficiency and revamp the processes.

Key Highlights of Rail budget 2016 :

  • Capital plan of Rs 1.21 lakh crore.
  • Operating ratio kept at 92% FY17 as against 90% in current year.
  • To generate revenues of order of Rs.1,84,820 cr next year which is a 10.1% higher than revised target of current year.
  • Railways will get Rs 40,000 crore budgetary support from the government etc.

India extends 1 million dollar aid to cyclone hit Fiji.

  • Fiji will receive 1 million dollar aid as immediate assistance from Indian Govt.
  • It was announced by Ministry of External Affairs (MEA) spokesperson Vikas Swarup.

Coal Linkage Auction Policy to be introduced by Union Govt for Corporation in power field.

  • Anil Swarup, Coal Secretary said that the current surplus stock with Coal India Ltd (CIL) was a temporary phenomenon.
  • CIL will take several steps for further process implementation :  Reduction in import of thermal coal, Improved fuel supply levels, Better evacuation of pit head coal stock, Restructuring of debt for power distribution companies had been initiated.

India’s first nuclear submarine ‘INS Arihant’ ready to operate.

  • The submarine has passed several deep sea diving drills as well as weapons launch tests over the past five months.
  • The formal induction into the naval fleet is only a political call away.
  • Rajendra singh : First non navy officer to head Coast Guard.

Rajendra Singh appointed as first non-navy officer to head Coast Guard. 

It is the 1st time that the force will get a chief from its own internal cadre since it was set up in 1978 as the country’s fourth armed force after the Army.

Punjab National Bank declared 904 firms as willful defaulters.

  • State-owned Punjab National Bank (PNB) has declared 904 borrowers who owed it a combined Rs.10,869.71 crore as of December-end as wilful defaulters.
  • The bank added 140 companies to the list of wilful defaulters over the last quarter.
  • At the end of September, 764 companies who owed the lender Rs.9,200 crore had been classified as wilful defaulters.

Vishal Sikka’s terms extended for two years by Infosys.

  • India’s second largest software exporter Infosys extended the tenure of CEO & MD Vishal Sikka by another two years till the year 2021.
  • Sikka was earlier appointed as MD & CEO till 2019.

SBI launched new branch for e-commerce loans.

  • SBI has taken another leap in this space with the launch of SBI e-Smart SME, a working capital loan offering for sellers on ecommerce platforms.
  • With this development, sellers can apply for the loan online on the e-commerce platform and get instant sanctioning of the loan.

25000 wifi spots to be setup by Govt.

  • Indian government has planned to set up wi-fi facilities at 25,000 spots in the country by March 2016.
  • At present, the facilities are available at three hundred spots across India.

Mastercard to launch new mobile technologies to launch payments by selfie.

  • It will allow customers to authenticate their online purchases using selfies or fingerprints.
  • The technology will be rolled out by big banks in the U.S., Canada, the U.K. and some European countries over the next few months.

Telecom Infra Project launched by Facebook.

  • The project will look at developing new and alternative technologies to build and deploy telecom infrastructure, with partners including Aricent, HCL Technologies, Intel, Nokia and T- Mobile.
  • The Project is working on providing currently unserved rural communities with wireless network efforts.

GVK Bio wins Global CSR Excellence & Leadership Awards.

  • GVK Biosciences has bagged the Global CSR Excellence & Leadership Awards in the category of Best Environment-Friendly Project.
  • The award has been given for its ‘Go Green, Grow Green’ plantation drive.
  • The awards are constituted by the World CSR Congress every year on the World CSR Day.

Australia placed at World No. 1 ranking in ICC test rankings

  • Australia replaced India at the top of the world’s test rankings in Cricket with a 2-0 win over New Zealand in Christchurch.
  • Joe Burns was selected as man of the match for his 170 and 65 runs from both innings.
  • New Zealand skipper Brendon McCullum bid farewell test cricket.

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National Women Cycling team of Afghanistan nominated for Nobel Peace Prize 2016

  • Afghanistan’s National Women’s Cycling Team nominated by a group of Italian MPs for the 2016 Nobel Peace Prize for their dedication.
  • Afghanistan’s National Women’s Cycling Team is among the first Afghan girls to be riding bikes socially.


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