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Major News and Events of 15 February 2016

What Happened on 15 February 2016


No autos on Mumbai roads for today

In accordance to the strike called by the Mumbai Autorickshwmen’s Union (MAU), a whopping one lakh autorickshaws will stay off the Mumbai roads today. The strike serves as a protest against private taxi aggregators like Ola and Uber in addition to other demands. In addition to this, a large group of private bus operators have also threatened to go on strike to oppose the hike in permit fee for outstation trips.  

Mumbai-Ahmedabad bullet train project begins from 2018

At the Make In India Week yesterday, railway board chairman A.K. Mittal informed media that the work on the Mumbai-Ahmedabad bullet train will start by late 2017 or early 2018 and will be completed in five years. Around 81% of the project cost of Rs. 98,000 crore would be funded by the Japan International Cooperation Agency in the form of a soft loan accompanied by a 50-year term and a moratorium of 15 years with an interest rate of 0.1%.

BSE Sensex & Nifty record biggest 1-day gain

With a jump of more than 2.6 per cent, NSE Nifty has recorded its biggest daily percentage gain in more than a year. Post the selloff last week, strong trading in bank shares made Nifty end at 7,162.95 with the BSE Sensex gaining 2.47 per cent to close at 23,554.12. Additionally, the State Bank of India also raised by 9 per cent on value-buying after the stocks fell in its quarterly profit on Friday.

Mumbai to get 7 open-deck buses in May

As a port of entry for nearly twenty two percent of the twenty three million foreign tourists who visit India every year, Mumbai will receive its set of seven open-deck buses that would be used by tourists to go sightseeing. While four of these buses will run in south Mumbai; the other three will ply in the suburbs.

ISRO announces privatization of PSLV operations by 2020

Regarded as a revolutionary change in India’s space scenario, the operation of ISRO’s four-stage Polar Satellite Launch Vehicle (PSLV) will be privatized in the next four years i.e. by 2020. While making the announcement, ISRO chief AS Kiran Kumar also informed the integration and launch of PSLV will be handled by an industrial conglomerate via the commercial arm of ISRO, Antrix Corporation.

Infosys rolls out incentives for top performers

As India’s first company to have offered stocks to its employees in 1990s, Infosys is planning to roll out a new stock incentive plan for both mid-level and top-level executives. The company is looking forward to allot 1-1.5% of its equity for creating a stock pool for the top executives. Infosys would seek approval for the same in the forthcoming weeks.

Express Adda to have Sri Sri Ravi Shankar as guest speaker

Spiritual leader Sri Sri Ravi Shankar who has recently been conferred the Padma Vibhushan and has been well-known for his social interventions, will be the guest speaker the Express Adda. Here, he would be in conversation with Vandita Mishra, National Opinion Editor, the Indian Express and Prasoon Joshi and chairman, Asia Pacific, CEO & COO, India, McCann Worldgroup.

Government likely to introduce PSU Bank reforms

Indian government will be introducing a series of reforms which would be used to improve governance in PSBs (Public Sector Banks) which have reported losses in excess of Rs. 10,000 crore as an attempt to escape bad loans. Additionally, the government would also be addressing issues including maintenance of an arm’s length relationship and professionalization of bank boards.

World Class Kalam memorial at Rameshwaram soon

The Ministry of Urban Development (MoUD) has stated that the government will construct the memorial for commemorating the life and work of late President APJ Abdul Kalam at Rameshwaram in Tamil Nadu. This memorial will be based on three unique themes that would be utilized to showcase the late president’s contribution in motivating the youth apart from his eventful life and scientific brilliance.