PNB approved its merger with OBC and United Bank of India
* Punjab National Bank’s (PNB) board has decided to give its in-principle approval for the merger with the Oriental Bank of Commerce and United Bank of India. The move is a part of the announcement of a major bank merger by the Finance Minister Nirmala Sitharaman.
* The directors of the Bank approved to commence the amalgamation process. The board also approved a capital infusion of up to Rs.18,000 crore from the government for preferential allotment of equity shares of the bank at a price determined in terms of SEBI (ICDR) Regulations. After the merger, PNB will be the country’s second-largest PSB with Rs.18 lakh crore business. It will also be the second-largest branch network in India.
* Earlier, the government announced that the four major bank mergers. The merger of 10 public sector banks to be merged into four was announced by Finance Minister Nirmala Sitharaman. After the merger, there will now be 12 public sector banks after the latest round of consolidation of PSU banks.
Indian army to participate in joint exercise “TSENTR 2019”
* Indian army will participate in a multilateral exercise “TSENTR 2019” to be held in Russia. Armies of Pakistan, China, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Russia will also participate in the exercise. This will be the first time that forces from India and Pakistan will participate in a multilateral exercise together since the Balakot airstrikes conducted by Indian forces.
* The exercise is a part of the annual series of large scale exercises that form part of the Russian Armed Forces’ annual training cycle. The exercise rotates between the four main Russian operational strategic commands.
India moves up 6 places to 34th rank on world travel and tourism competitiveness index
* According to the World Economic Forum (WEF) report, India has jumped 6 places to claim 34th spot on world Travel & Tourism Competitiveness Index 2019. The WEF report shows, over 1.5 crore international tourists arrived in India while the share of travel and tourism industry was 3.6 per cent and that of industry employment was 5.1 per cent.
* Spain tops the ranking index followed by France and Germany. Other countries in the top 10 include Japan, the United States, the United Kingdom, Australia, Italy, Canada, and Switzerland.
Anupama Swain wins bronze in World Martial Arts Mastership
* Indian woman athlete Anupama Swain won a bronze medal in the recently concluded World Martial Arts Mastership Jiu-Jitsu 2019. The event was held in Chungju, South Korea. Now she qualified for 2022 Asian Games. she was the only Indian to participate in the championship.
* Jiu-Jitsu is a form of martial art and combat sport and it puts the entire focus on grappling with particular emphasis on ground fighting.
Odisha won the IT Excellence Award, 2019 in disaster management
* Odisha State Disaster Management Authority (OSDMA) has won the IT Excellence Award, 2019 for its innovative conception by using information technology in the field of disaster management. The “SATARK” (System for Assessing, Tracking and Alerting Disaster Risk Information based on Dynamic Risk Knowledge) application has been chosen for the award.
* This app has been developed to provide real-time watch, alert and warning information for different natural disasters and hazards such as heatwave, lightning, agriculture risk, flood, tsunami, earthquake, cyclone or storm, road accident and snakebite.
Manu-Saurabh won gold medal in ISSF World Cup
* Manu Bhaker and Saurabh Chaudhary won the gold medal in mixed 10m air pistol at the ISSF World Cup in Rio de Janeiro. In the air pistol final, the pair of Manu Bhaker and Saurabh Chaudhary prevailed over Yashaswini Singh Deswal and Abhishek Verma 17-15. With this, India finished the ISSF World Cup at the top of the medals tally with 5 gold, 2 silver, and 2 bronze.