Alibaba to invest INR 4000 crore in Paytm

Alibaba to invest INR 4000 crore in paytm (m-commerce company). Alibaba has picked up 25 per cent stake in Paytm’s parent company One97 communication through its subsidiary Ant Financial.

Earlier it has done investments in Snapdeal, FreeCharge and now Paytm which is the largest mobile payments space in India. Paytm has around 80 million digital wallets and Alibaba is interested in this major mobile commerce player in this mobile-first market to topple the largest global rival Amazon. Through the partnership with Alibaba Indian e-commerce players now also has access to Chinese market.

About Alibaba

  • Alibaba Group Holding Limited is a Chinese e company that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals.
  • It also provides electronic payment services, a shopping search engine and data- centric cloud computing services.
  • Founded: 4 April 1999
  • Headquarters: Hangzhou, china
  • Founder: Jack Ma

Uttar Pradesh government decided to rename UPTU as APJ Abdul Kalam Technical University

The Uttar Pradesh (UP) Cabinet approved UP Technical University (Amendment) Bill, 2015. The amendment was approved during a state cabinet meet chaired by chief minister Akhilesh Yadav. The Bill amends the UP Technical University Act, 2000 to rename the Uttar Pradesh Technical University (UPTU) as Dr. APJ Abdul Kalam Technical University (APJAKTU), Uttar Pradesh in the honour of 11th President of India.

Centre launches ‘SAMANVAY’ Yojna for Gram Panchayats

Rural Development Minister Chaudhary Birender Singh launched SAMANVAY, a compilation of all schemes of both Central and State governments for Gram Panchayats. The purpose behind bringing out SAMANVAY is to help MPs in utilising relevant schemes in the planning and implementation of Saansad Adarsh Gram Yojana.

  • The Minister also launched ‘Panchayat Darpan’ magazine to monitor the progress of the Saansad Adarsh Gram Yojana. It will act as a mirror of all the development activities in the village panchayats.
  • Saansad Adarsh Gram Yojana was launched in October last year under which MPs are to develop three Adarsh Gram Panchayats by 2019.

Cabinet approves proposal to sign agreement with UNESCO

The Union Cabinet approved a proposal to sign an agreement with UNESCO for establishment of a Centre for World Natural Heritage Management and Training for Asia-Pacific region at the Wildlife Institute of India (WII) in Dehradun as a category-2 centre of the UN body.

Mathematician Amalendu Krishna won 2015 Ramanujan Prize

Mathematician Doctor Amalendu Krishna won the Ramanujan Prize for year 2015. He was bestowed with this award for his outstanding contributions in the area of algebraic cycles, algebraic K-theory and the theory of motives. Presently, Krishna is a mathematician professor at the Tata Institute of Fundamental Research (TIFR), Mumbai. He hails from Bihar and had completed his early college and schooling from there itself. Krishna is the second Indian to win this award, first was Sujatha Ramadorai who had won the award in 2006.

About Ramanujan Prize

  • Constituted in 2005, the award is named after the noted Indian mathematician Srinivasa Ramanujan.
  • The award recognizes a researcher from a developing country who has conducted outstanding research in a developing country and is less than 45 years of age.

Current Affairs One-liners

  • Bharti Airtel has announced the commercial launch of 4G services in 296 towns across India. The telecom company launched first 4G networks in India in Kolkata in April 2012.
  • Uttar Pradesh government has made Masaan and Jaanisaar tax-free in the state
  • The Election Commission is going to honor the Former Jalore Electoral Officer Rajan Vishal with the Best Electoral Practices Award-2014 for his efforts to reach remote areas and convincing people, especially women, to play their role in democracy.