7th July 2018 Current Affairs

Contents

YES Bank gets SEBI nod to launch MF business

Yes Bank has received approval from capital markets regulator SEBI to start mutual fund business.
This approval comes after the Reserve Bank of India’s (RBI’s) approval granted to Yes Bank to sponsor a mutual fund.
This initiative will complement Yes Bank’s retail liabilities and wealth management strategy.
Yes Asset Management will launch fund offerings across the spectrum of both debt and equity markets over the next 6-12 months.

Justice Adarsh Kumar Goel has been appointed the new Chairperson of the National Green Tribunal (NGT).
Goel retired from the Supreme Court of India on Friday, July 6, 2018.
The post of NGT chairperson had been lying vacant for more than 6 months after the retirement of Justice Swatanter Kumar on December 20, 2017.
Justice Umesh Dattatraya Salvi has been the acting chairperson of the NGT since Justice Swatanter Kumar retired.
AK Goel will have a term of five years.

The Law Commission has recommended that betting on sports should be regulated in order to curb fraud and money laundering.
It has recommended that the betting should be taxable under the direct and indirect tax regimes, and even that it could be used as an instrument to attract foreign direct investment (FDI).
The commission has suggested that Parliament should enact a model law for regulating gambling, which the states can adopt.
Furthermore, the suggestion is that the law should include linking of Aadhaar card and PAN card of an individual who wants to bet on such activities.

The National Association of Software and Services Companies (NASSCOM) has launched a Centre of Excellence (CoE) for Data Science and Artificial Intelligence (DSAI) in Bengaluru, in association with the Government of Karnataka.
The aim of this project is to make sure that innovation in emerging disruptive technologies such as AI is increased in the country, and to make full use of the power of data science.
The CoE will focus on innovation, specifically solutions in smart manufacturing, as well as automotive, healthcare, agriculture, energy, IoT, and banking and financial services.

ICICI Bank has reached a milestone in terms of disbursing mortgage loans, which have exceeded Rs. 1.5 trillion.
It is first private sector bank in the country to achieve this, making it the largest mortgage lender among private sector banks.
ICICI Bank is targeting growth of its pan-India mortgage book to Rs. 2 trillion by the end of FY 2020.
The bank has also enabled developers to obtain approvals for their projects in a paperless manner.