1.The government has notified a new law that makes holding of more than 10 scrapped notes punishable with a fine of upto 10000.With the new law coming into force,possession of more than 10 pieces of the old notes by individuals and more than 25 pieces for study research purpose will be a criminal offence,attracting fine of Rs 10000 and 5 times the cash held,whichever is higher.
2.Non life insurer Reliance General insurance part of Reliance capital ltd has signed a Bancassurance deal with Kerala based Catholic Syrian bank.The company plans to boost its top line by upto 15% through these tie ups and Alliances with sharp focus on selling Retail products.
3.Soma Mandal has taken charge as Director(commercial) of Steel Authority of India thus becoming the first ever woman funtional director in the board of SAIL.Prior to this,she was the director(commercial) of NALCO,Bhubaneswar.
4.Amazon has launched Rekindle, an Initiative to encourage women on a professional break to resume their corporate careers.As part of this initiative the company will provide structured on boarding focussed monitoring,flexible work options and on the job learning to the candidate.
5.As part of government initiatives to achieve better ranking in world bank's Ease of doing business,government intends to decrease the no.of days required for an entity to start operations in the country.By march end,an entity will be able to start a business in India in 6 days,compared to the current 26 days.The number of procedures will also be halved from the current 12 to 6.
6.The Organisation for Economic cooperation and Development(OECD) cut its growth projection for India in 2016-17 to 7% from 7.4% it had projected last year.The organization in its Economic Survey of India 2017 report forecast a growth rate of 7.3% for 2017-18 and 7.7% for 2018-19.
7.India Army and Royal Army of Oman are scheduled to conduct their second bilateral exercise,Al NAgah-II in March with a focus on counter terrorism.The Army said the exercise would be held in Dauladhar Ranges At Bakloh in Himachal Pradesh from March 6 to 19.
