Kotak Mahindra Bank integrates with Flipkart.
Private sector lender Kotak Mahindra Bank has enabled online shopping portal Flipkart in its mobile banking application in order to ensure a seamless shopping experience for its customers.
“The biggest problem faced by consumers is the transaction failure during the payment mode. Through this integration we are trying to solve that problem for our customers,” said Deepak Sharma, chief digital officer, Kotak Mahindra Bank.
Customers can now shop at Flipkart via the bank app which also allows booking of air tickets, hotels and bus tickets.
Times Internet partners HDFC Bank to launch co-branded Debit Card.
Times Internet (part of Bennett, Coleman & Co that owns The Economic Times), in partnership with HDFC Bank, announced the launch of a co-branded card on Thursday called the Times Points Debit Card.
The card marries the concept of Times Points, an online loyalty product with over 18 million users, and Times Card, a co-branded credit card currently used by 3.5 lakh customers that was launched in 2013 by Times Internet in association with HDFC Bank.
Microsoft appoints Sriram Rajamani as MD of India Research Lab.
Microsoft on 11 August 2016 announced the appointment of Sriram Rajamani as the new Managing Director (MD) of its India Research Lab.
The appointment is effective from 1 August 2016.
Rajamani replaced Chandu Thekkath, who previously worked as Managing Director of the lab for two years.
Who is Sriram Rajamani?
• Rajamani is a renowned computer scientist.
• He holds a proven research and managerial track record spanning 17 years in Microsoft's research organisation.
• He has expertise in programming language design, security and privacy, cloud security and probabilistic programming.
The appointment is effective from 1 August 2016.
Rajamani replaced Chandu Thekkath, who previously worked as Managing Director of the lab for two years.
Who is Sriram Rajamani?
• Rajamani is a renowned computer scientist.
• He holds a proven research and managerial track record spanning 17 years in Microsoft's research organisation.
• He has expertise in programming language design, security and privacy, cloud security and probabilistic programming.
Michael Phelps becomes first swimmer to win four consecutive golds in same event.
Michael Phelps on 11 August 2016 won his fourth consecutive 200m individual medley Olympic title. With this, he became the first swimmer ever to win four consecutive golds in the same event.
Phelps clocked one minute, 54.66 seconds to grab the 200m individual medley Olympic title.
Japan’s Kosuke Hagino won the silver medal and China’s Wang Shun took the bronze.
Phelps clocked one minute, 54.66 seconds to grab the 200m individual medley Olympic title.
Japan’s Kosuke Hagino won the silver medal and China’s Wang Shun took the bronze.
HUPA approves construction of over 37000 houses for urban poor.
The Ministry of Housing and Urban Poverty Alleviation (HUPA) on 11 August 2016 approved construction of 37013 houses for the urban poor in Karnataka and Haryana with an investment of 1491 crore rupees.
These houses will be developed with central assistance of 569 crore rupees.
The project was approved by the inter-ministerial Central Sanctioning and Monitoring Committee, chaired by HUPA Secretary Nandita Mukherjee.
Legendary Pakistani cricketer Hanif Mohammad passes away.
Hanif Mohammad, the original 'Little Master,’ passed away on 11 August 2016 in Karachi, Pakistan. He was 81.
Hanif was diagnosed with the cancer in 2013, for which he received treatment in London.
About Hanif Mohammad
• Born on 21 December 1934, Hanif Mohammad was a Pakistani cricketer.
• He played for the Pakistani cricket team in 55 Test matches between 1952–1953 and 1969–1970.
• At his peak, he was considered one of the best batsmen in the world.
Hanif was diagnosed with the cancer in 2013, for which he received treatment in London.
About Hanif Mohammad
• Born on 21 December 1934, Hanif Mohammad was a Pakistani cricketer.
• He played for the Pakistani cricket team in 55 Test matches between 1952–1953 and 1969–1970.
• At his peak, he was considered one of the best batsmen in the world.
Assam becomes first state to ratify The Constitution (122nd Amendment) (GST) Bill, 2014.
The Assam Assembly on 12 August 2016 passed a resolution to become the first state to ratify The Constitution (122nd Amendment) (GST) Bill, 2014.
The bill was passed by the Lok Sabha on 8 August 2016 and by the Rajya Sabha on 3 August 2016.
Provisions of the Bill
• The GST will have two components keeping in mind the federal structure of India: the Central GST (CGST) and the State GST (SGST).
• For goods and services that pass through several states, or imports, the Centre will levy another tax, the Integrated GST (IGST).
• Alcohol for human consumption has been kept out of the purview of GST.
The bill was passed by the Lok Sabha on 8 August 2016 and by the Rajya Sabha on 3 August 2016.
Provisions of the Bill
• The GST will have two components keeping in mind the federal structure of India: the Central GST (CGST) and the State GST (SGST).
• For goods and services that pass through several states, or imports, the Centre will levy another tax, the Integrated GST (IGST).
• Alcohol for human consumption has been kept out of the purview of GST.
Saina Nehwal is the brand ambassador for ITC's Savlon.
ITC’s leading health & hygiene brand, Savlon, has announced the name of ace shuttler- Saina Nehwal as its brand ambassador.
In its new campaign, Savlon seeks to inspire parents to let go of their fears and encourage children to push their limits and maximize their potential to succeed in life.
BHEL appoints Akhil Joshi as director.
Power plant equipment manufacturer, Bharat Heavy Electricals limited (BHEL) has appointed Akhil Joshi as the Director (Power).
Prior to this Joshi, 57, was the Executive director (ED) human resource at BHEL.
Bharat Heavy Electricals Limited (BHEL) owned by the Government of India, is a power plant equipment manufacturer and operates as an engineering and manufacturing company based in New Delhi, India.
Intel buys AI startup Nervana Systems run by Indian-origin entrepreneur.
Tech giant Intel has acquired California-based deep learning startup Nervana Systems, run by an Indian-origin entrepreneur, allowing the chip maker to foray into the world of Artificial Intelligence (AI).
Nervana Systems is led by former Qualcomm researcher Naveen Rao, founded in 2014 and headquartered in San Diego, California.
Nervana will help develop Intel's artificial intelligence portfolio and enhance the deep learning performance of Intel Xeon and Intel Xeon Phi processors.
IKEA lays the foundation for its first store in India at Hyderabad.
Ikea, a global leader in retail furniture, has laid the foundation for its first store in India in Hyderabad.
The store is expected to open somewhere in July–August next year and is likely to see an investment of about Rs. 700 crore.
IRCTC signs MoU with DRDO to get ready-to-eat food straight out of packet.
The Indian Railway Catering and Tourism Corporation (IRCTC) has signed a MoU with Defence Food Research Laboratory of Defence Research and Development Organisation (DRDO) for Transfer of Technology of Retort Pouch Processed Foods so that ready-to-eat food can be warmed and eaten straight out of the packet.
DRDO also grants a non-exclusive license to utilize the Technology by IRCTC for manufacture in India for a period of 10 years.
Axis, Suvidhaa Tie-Up For Collateral-Free Loans To Urban Poor.
Private sector Axis Bank on Thursday launched a micro-lending product to disburse unsecured loans of up to Rs 15,000 to the urban low income segment using payments company Suvidhaa Inforserve's customer database.
"This is the first-of-its-kind offering which will give collateral-free loans of up to Rs 15,000 within two hours to deserving individuals based on their cash flow history," Axis Bank Executive Director Rajiv Anand said.
Seagate unveils the world’s largest 60TB SSD drive.
eagate has announced two new storage innovations at the Flash Memory Summit conference in Santa Clara, California. The new products from the company include a 60TB Serial Attached SCSI (SAS) SSD and an 8TB Nytro XP7200 NVMe SSD. It is important to understand this 60TB SSD offering from Seagate is not coming to the consumer market anytime soon.
It was Samsung which earlier held the title of having built the largest capacity SAS SSD (15.36TB PM1633a), which it unveiled in March this year. This hard drive is based on a 12Gb/s SAS interface, and is aimed at enterprise data storage system. The 2.5-inch form factor allows the user to fit two of these drivers in a standard 19-inch 2U rack.
Parkash Singh Badal inaugurates ‘Sewa Kendra’ in Punjab.
In order to provide efficient and transparent governance to the people at their doorsteps, Punjab Chief Minister Parkash Singh Badal today inaugurated the state’s first ‘Sewa Kendra’ where people will be able to avail 243 services under one roof. “This is a step towards ensuring governance reforms in the state. These centres would act as a catalyst to help people in getting their routine administrative works done in a speedy manner,” he said while addressing people during the inauguration of ‘Sewa Kendra’.
“A total of 2,147 Sewa Kendras have been constructed at a cost of Rs 500 crore. Of these, 389 are in urban areas and 1,758 in rural areas which will provide more than 243 services to the people.
UN to issue stamp to mark M S Subbulakshmi's birth centenary.
The United Nations will issue a stamp in honour of carnatic music legend, M S Subbulakshmi, on her birth centenary next week, coinciding with the celebrations of India's 70th independence day. India's Permanent Mission to the UN said in a press statement that a photo exhibition will also be held from August 15 to 19 at the world body's headquarters to commemorate Subbulakshmi's birth centenary which falls on September 16.
