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Indian Navy’s new destroyer INS Visakhapatnam launched The Navy’s largest destroyer, INS Visakhapatnam, with enhanced capability to operate in areas tainted by a nuclear, biological and chemical strike, was launched at the Mazagon dock in Mumbai. The ship weighed approximately 3,000 tons during the launch. It will be the first of P15-B stealth destroyers (under Kolkata-class) and will be propelled by four gas turbines. Nasim Zaidi takes over as the new Chief Election Commissioner […]

Microsoft CEO Satya Nadella to receive Champion of Change award from Obama United States (US) President Barack Obama is going to honour Microsoft’s Indian-origin CEO Satya Nadella with the ‘Champions of Change’ award. He will be honoured with this award for bringing change within his company to support working families. Apart from Nadella, 11 other persons were honoured with Champions of Change award for their exemplary leadership. UN peace envoy to Yemen Jamal Benomar resigns […]

Nokia To Buy Alcatel-Lucent For $16.6 Billion Finish telecom network equipment maker Nokia announced acquisition of French telecom network firm Alcatel- Lucent for $16.6 Billion. This merger will create the world’s largest supplier of telecom equipment’s that powers mobile phone networks by surpassing Ericsson and Huawei. The merger would create jobs for more than 100,000 employees and almost $27.7 billion in revenue, rivaling Ericsson. India successfully test fires nuclear-capable Agni III ballistic missile […]

Zomato acquires Delhi based data firm MaplePOS Online restaurant guide Zomato announced the acquisition of MaplePOS, a cloud-based point of sale product for restaurants developed by a group of techies from Delhi. After the acquisition, Zomato has renamed MaplePOS product to ‘Zomato Base’ which will help the company and its restaurant partners to manage business into online orders and payments. National Judicial Appointment Commission Act, 2014 comes into force […]

Air Pegasus Begins Commercial Operations Air Pegasus became the newest domestic airline in India as its first flight took off from Bangalore to Hubli today. Its maiden flight was inaugurated by Union Aviation Minister Ashok Gajpathi Raju at Bengaluru. The airline is promoted by Decor Aviation, which calls itself the largest ground handling service provider in South India. Air Pegasus received its flying permit from aviation regulator Directorate General of Civil Aviation (DGCA) last year (2014). NASA Names Asteroid After Malala Yousafzai […]

IFCI Ltd. now a Government company IFCI was earlier known as the Industrial Finance Corporation of India. It was the first development finance institution in the country. Till now the Union Govt. had 47.93% stake in it. Some time back the govt. acquired IFCI’s 6 crore preference shares and taking up its stake up to 51.04%. Thus, as per the provisions of Section 2(45) of the Companies Act, 2013 IFCI became a government company (PSU) with effect from 7 April 2015. Reliance Jio launches messaging, calling app Jio Chat […]

Snapdeal buys Freecharge for $400m E-commerce marketplace Snapdeal has acquired online recharge platform FreeCharge for an estimated $400 million (Rs 2,400 crore), making it one of the largest deals in the consumer internet space in India. FreeCharge is a mobile commerce platform where users can pay their mobile, DTH and utility payments across most major operators. However, FreeCharge will continue to function as an independent platform and without any changes in its shopping experience. TRAI recommends 112 as single emergency number for India  […]

PM launches ‘Mudra’ bank to finance small entrepreneurs Prime Minister Narendra Modi launched Micro Units Development and Refinance Agency “MUDRA” Bank under Pradhan Mantri Jan Dhan Yojana. This will provide credit of up to Rs 10 lakh to small entrepreneurs and act as a regulator for ‘Micro-Finance Institutions’ (MFIs). There are three category:  “Shishu” would cover loans up to Rs 50,000 while “Kishor” above Rs 50,000 and up to Rs 5 lakh. “Tarun” category will cover loans of above Rs 5 lakh and upto Rs 10 lakh. Dr. Mayilsamy Annadura took charge as Director of ISRO satellite centre […]