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Major News and Events of 12 February 2016

What Happened on 12 February 2016


83rd Mercedes Benz dealership inaugurated in Pune

As an initiative to gain traction in India, Mercedes-Benz today inaugurated its 83rd dealership in Pune. It is the second state-of-the-art Mercedes-Benz dealership in Pune, which is in sync with the brand’s ‘Winning’ strategy for the year 2016. Mercedes-Benz India Managing Director & CEO, Roland Folger hinted the inauguration of ten new outlets in India by the end of 2016.   

Canara Bank Profits slide by 87%

Joining the league of around six state-run leaders which have reported plunge in Q3 profitability, Canara Bank stock hit its 52-week low as a majority of investors chose not to buy its shares. Canara Bank shares have reportedly fallen by 87 per cent to Rs. 85 crore in Q3 as compared to the gross non-performing loans(NPA) which jumped 87 per cent to Rs. 19.814 crore in the December quarter.  

Metros to trim commute times by up to 30 minutes

Delhi’s Metro matrix is geared up for an interchange revolution which would decrease commute times across the national capital and its neighbouring cities. That would mean the commute from Gurgaon to Noida would take thirty minutes less and likewise going from Janakpuri to Faridabad and Dwarka to Lajpat Nagar would save thirty and fifteen minutes respectively.  

Ragging lands 5 Indore students in jail

At a college located in Rau area in Indore, five seniors had ragged an eighteen year old student Sarthak in 2011. The city’s local court has given a two-year rigorous imprisonment to all the five students for assaulting and seriously injuring the teenager. The Judicial Magistrate has also imposed a fine of Rs. 2000 on each of the convicts after finding them guilty under sections 147(rioting), 325(inflicting serious injury) and 341(forcibly blocking the passage) of Indian Penal Code.

Slashed interest rates on NSC, PPF from April

Indian government has decided to lower the interest rates on all small savings from April this year. The initiative will reduce earnings on Public Provident Fund Deposits and National Savings Certificate, followed by putting an impact on bank fixed deposits too. On the contrary, Economic affairs secretary Shaktikanta Das has said the rates for schemes related to girl child and senior citizen will remain unchanged.

Seized Snapdeal employee found in Panipat

Dipti Sarna, a 24-year-old executive of Snapdeal’s legal department who went missing in Ghaziabad on Wednesday, was found in Panipat, Haryana, early this morning. Presumed to be kidnapped, Dipti called her dad Narendra Saran and asked him to pick her up from the Vaishali railway station. The snapdeal employee’s alleged abduction had triggered protests on Wednesday with a crowd of 500 people supporting her family to block the Ghaziabad-Hapur road leading to national highway 24.

King Khan pays Rs. 1.93 lakh fine for illegal ramp

Bollywood actor Shah Rukh Khan has paid a gigantic Rs. 1.93 lakh as the penalty for constructing an illegal ramp outside his Bandra-based bungalow Mannat. Since the ramp was demolished, the actor was liable to pay the cost of demolition to the Mumbai municipal authorities. As per the Mumbai Municipal Corporation Act, 1888, and the Maharashtra Regional and Town Planning Act, 1966, the BMC is free to recover the cost that it incurs from the house owner on demolition of any illegal construction carried out by the owner.

Wipro buys US IT firm worth Rs. 3,000 crore

India’s multinational IT services company Wipro has purchased a US-based insurance technology platform HealthPlan Services for a colossal $460 million (over Rs. 3,000 crore). The venture is considered both as the company’s fourth acquisition in less than six months and also its biggest procurement since the $600 million buyout of US data centre provider Infocrossing in 2007.




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