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News in Short

News in Short - 30-March-2019

Google suspended from Corporate Equality Index

Date: 30 March 2019 Tags: Reports & Indices
  • Search engine giant Google was suspended Corporate Equality Index (CEI) after it failed to remove anti-LGBTQ app on its PlayStore platform that influences a person's sexual orientation using psychological or spiritual interventions.
  • CEI is released annually by Human Rights Campaign Foundation. It servees national benchmarking tool on corporate policies and practices pertinent to lesbian, gay, bisexual, transgender and queer (LGBTQ) employees.
  • Its rating criteria have three key pillars: (i) Non-discrimination policies across business entities; (ii) Equitable benefits for LGBTQ workers and their families and (iii) Supporting an inclusive culture and corporate social responsibility.

ECI collaborates with Indian Railways for Voter Awareness Campaign

Date: 30 March 2019 Tags: Commissions & Committees
  • Election Commission of India (ECI) has collaborated with Indian Railways as part of Voter Awareness campaign for LokSabha Election 2019.
  • Under this collaboration, ECI will use four long distance Trains of Indian Railways to carry voter awareness and motivational messages.
  • These trains will display important contact details for citizens including Voter Helpline number ant National Voters’ Services Portal, motivational messages urging them to Vote.
  • Indian Railways has one of the largest railway networks in the world. On average, Indian Railways carry 22.24 million passengers and 3.04 million tonnes of freight each day.

Government mergers 2 regional rural banks in Tamil Nadu

Date: 30 March 2019 Tags: Basic Concepts
  • Department of Financial Services, Union Ministry of Finance has merged Pallavan Grama Bank and Pandyan Grama Bank in Tamil Nadu into single regional rural bank.
  • It will be called as Tamil Nadu Grama Bank with its head office at Salem. It will be under the sponsorship of Indian Bank.
  • Pallavan Grama Bank is sponsored by Indian Bank and Pandyan Grama Bank by Indian Overseas Bank.

GAIL, BHEL ink MoU for development of Solar Power Projects

Date: 30 March 2019 Tags: Industries
  • State-owned gas utility GAIL India Ltd signed MoU with Bharat Heavy Electricals Ltd (BHEL) for cooperation in the development of solar power projects.
  • The MoU is aimed at building a closer strategic partnership between the state-owned companies for jointly pursuing commercial solar power projects through participation in tariff and viability gap funding (VGF) based competitive bidding process.
  • GAIL will be project developer and BHEL will act as engineering, procurement, construction (EPC) and project management contractor.

BHEL will also provide operation and maintenance services during initial period after becoming a successful bidder

PFC becomes India’s 2nd largest state-owned financial firm

Date: 30 March 2019 Tags: Industries
  • State-owned Power Finance Corporation (PFC) became second-largest government-owned financial player in the country.
  • It achieved this feat after completing acquisition of majority stake in REC Ltd by transferring Rs 14,500 crore to government.
  • PFC will also be the third-highest profit-making financial player in India. At present, State Bank of India (SBI) is largest state owned financial player in the country in terms of market capital.