www.mahendraguru.com India is still forecast to retain its position as Eco/Banking/RBI the world’s fastest growing major economy ahead of China, which is forecast to grow 6.7% in 2016. JAN 2 : India's largest LNG importer Petronet has signed an agreement to set up a $950 million liquefied JAN 12 : Moving ahead with the strategic sale of natural gas import project in Bangladesh. Pawan Hans, the government said it will sell its entire 51 per cent stake and transfer JAN 5 : Google at its SMB-focused event in New the management control of the helicopter Delhi announced two new initiatives for service operator. small and medium businesses in India - Digital Unlocked and My Business Websites. Pawan Hans is a joint venture where state- The event was helmed by Google CEO owned ONGC holds 49 per cent. Sundar Pichai, who spoke about the power JAN 13 : In one of the biggest aircraft orders by an of the Internet to transform entrepreneurship. Indian airline, Spice Jet announced it will JAN 6 : Wind turbine maker Suzlon Group said that buy up to 205 Boeing planes worth $22 it has bagged 105 megawatt (MW) order billion (Rs. 1.5 lakh crore). from Axis Energy Group in Andhra Pradesh. Spice Jet chairman Ajay Singh, who brought the airline back from the verge of closure The company said in a BSE filing that the two years back, said the order is a firm one project consists of 50 units of S111 90 metre for 155 Boeing 737-8 Max and 50 purchase tubular tower, each with a capacity of 2.1 MW. rights for wide body long haul planes like JAN 7 : The Indian economy is expected to grow Dreamliner and the B-737s. at 7.1 per cent this fiscal -- without the JAN 13 : Unemployment in India is projected to impact of demonetisation being taken into witness marginal increase between 2017 and consideration, according to an official 2018, signalling stagnation in job creation in advance estimate of Central Statistics Office the country, according to a UN labour report. (CSO) for the year released. The actual The United Nations International Labour expansion in the first six months of 2016-17 Organisation (ILO) released its 2017 World stood at 7.1 per cent. Employment and Social Outlook report, JAN 9 : The tax department said that General Anti- which finds economic growth trends lagging Avoidance Rule (GAAR) will kick in from behind employment needs and predicts both April 1, 2017. rising unemployment and worsening social In its 2016 year-end review, the Central inequality throughout 2017. Board of Direct Taxes, which is the apex JAN 13 : Mobile handset brand Gionee has roped in policy making body of the I-T department, Indian test captain Virat Kohli as the brand listed its major achievements. ambassador. The poster boy for Indian JAN 9 : Making trading in mutual funds more cricket will be joining Bollywood actor Alia convenient for investors, BSE announced Bhatt who was roped in a few months ago. the launch of the ‘BSE STAR MF’ mobile JAN 14 : Deploys Tata Communications' Wi-Fi+ application.The app is currently available to solution for providing BSNL subscribers android mobile users.BSE runs the mutual Wi-Fi network access internationally. fund trading platform — BSE STAR MF — Bharat Sanchar Nigam has partnered with the largest MF distributor platform in India Tata Communications to deliver a high- with more than 4 lakh SIPs (Systematic quality mobile experience and accelerate Investment Plans) per month. how its subscribers use Wi-Fi internationally. JAN 9 : Rockman Industries, the auto-components JAN 17 : The International Monetary Fund (IMF) arm of the USD 5 billion Hero Group, has has lowered India's growth forecast for the forayed into carbon composites space by current fiscal 2016-17 to 6.6 per cent from acquiring majority stake in Surat-based 7.6 per cent estimated earlier. Moldex Composites in a deal valued at In an update of its flagship publication the around Rs. 100 crore. World Economic Outlook, the IMF said JAN 11 : The World Bank has pared India’s growth India is likely to grow by 6.6 per cent only forecast for FY17 to 7% from 7.6% estimated in FY17, down from 7.6 per cent estimated earlier, attributing it partly to demonetisation earlier and marginally behind China that is of high-value currency notes. pegged to grow at 6.7 per cent in 2016. www.mahendraguru.com [2] www.mahendraguru.com JAN 18 : According to United Nations report India is Inc (VGS) for supply of 4 million tonnes projected to grow by 7.7 per cent in fiscal a year of LNG from its Lake Charles, 2017, remaining the fastest growing large Louisiana, project for 20 years. developing economy, as it benefits from JAN 28 : Competition Commission approved the strong private consumption and gradual proposed joint venture between Anil Ambani- introduction of significant domestic reforms. led group firm Reliance Aerostructure and JAN 20 : Kishore Biyani-led Future Consumer has Rafale-maker Dassault Aviation, one of forged a joint venture with Tilda Hain India the major deals in India’s private defence Pvt, part of US' Hain Celestial Group Inc, to industry. manufacture and sell food products in the BANK health and wellness space in India. JAN 4 : Paytm said it has received final approval Jan 21 : Hong Kong, a Special Administrative Region of the Reserve Bank to formally launch of China, would open an Economic and its payments bank and it expects to start Trade Office (ETO) in India to strengthen operations next month. Payments banks can trade ties and investment linkages. accept deposits from individuals and small The ETO would go a long way in businesses of up to Rs. 1 lakh per account. strengthening trade, economic and JAN 7 : Even as the Central Statistics Office (CSO) investment linkages between India and revised downwards the GDP growth estimate Hong Kong, a press release from the Indian for the current financial year to 7.1 per cent, Consulate in Hong Kong said. SBI Research pegged it further down at JAN 27 : A San Francisco-based software company 6.7 per cent, citing the note-ban impact on founded by an IIT alumnus will be acquired consumption and therefore production. by American technology giant Cisco for JAN 10 : Export-Import Bank of India (Exim Bank) has USD 3.7 billion. Jyoti Bansal founded launched a portal 'EXIM MITRA' primarily application intelligence software company for providing information on financial App Dynamics in 2008 with a vision to help products available to facilitate exports, and modern enterprises embark on their journey delivering trade-related information. of digital transformation with a disruptive JAN 10 : State-run Bank of Baroda reduced home approach to managing their software loan rates by 70 basis points to the industry's applications. lowest level of 8.35 per cent that will be JAN 27 : Ant Financial, e-commerce giant Alibaba's applicable for customers having a strong financial arm, has reached an agreement to Cibil scores. acquire American money-transfer major At 8.35 per cent, the rate is lower than MoneyGram for $880 million, in a deal that industry leader State Bank of India's 8.50 per will expand the firm's business in the US cent offer. after India and Thailand. JAN 13 : Finance Minister Arun Jaitley inaugurated JAN 27 : The Competition Commission has approved Airtel Payments Bank of Bharti Enterprises, French firm Schneider Electric's proposed which is being rolled out across the country purchase of the remaining 26 per cent in with an investment of Rs. 3,000 crore. power backup solutions provider Luminous. Airtel first started its payments bank in In 2011, Schneider Electric had acquired 74 Rajasthan across 10,000 retail outlets on per cent of Luminous Power Technologies November 23, 2016, and later rolled out pilot (LPT) for a total consideration of Rs. 1,400 services in Karnataka, Andhra Pradesh and crore.Competition Commission of India Telangana. (CCI), which keeps a tab on unfair business JAN 24 : According to Reserve Bank two small ways, has approved the deal to acquire finance banks -- Suryoday and Utkarsh the remaining stake, as per the regulator's commenced operations. website. With this, the number of small finance banks JAN 27 : Australia-listed Liquefied Natural Gas Ltd (SFBs) operating in India has risen to four. (LNG Ltd) has signed a pact to potentially supply gas from its planned Magnolia LNG In September 2015, the RBI had issued in- project in the US to India for 20 years. principle approval to 10 SFB applicants. LNG Ltd signed a Heads of Agreement (HOA) with Vessel Gasification Solutions, www.mahendraguru.com [3] www.mahendraguru.com National & State News of 2016 on the occasion of “Good Governance Day”. the Month JAN 6 : Hyderabad would play host to a semi-final match of the second T20 World Cup cricket JAN 2 : Prime Minister Narendra Modi will for the blind on February 10. inaugurate the five-day annual Indian Science JAN 6 : The Defence Research and Development Congress at the Sri Venkateswara University. Organisation is planning to develop a Prof D Narayana Rao, General President major facility in Madhya Pradesh's Morena of Indian Science Congress Association district on a vast area of over 900 hectares, (ISCA), said that Science and Technology for which land acquisition process is on. for National Development would be the focal theme of the Indian Science Congress. JAN 7 : The Standing Fire Advisory Council (SFAC), a Central government body, has JAN 4 : Creating history for a minority ethnic roped in Bollywood actor Randeep Hooda community that comprises just one per cent as the brand ambassador of fire services in of the US population, five Indian Americans India.