3-4 APRIL 2016
Flipkart acquired UPI-based payments start-up PhonePe
E-commerce giant Flipkart on 1 April 2016 announced that it has acquired payments start-up PhonePe Internet Pvt. Ltd.
The start-up PhonePe was launched in December 2015 by former Flipkart executives Sameer Nigam, Rahul Chari and Burzin Engineer.
As per the deal of acquisition, PhonePe will function as an independent business unit. The details of the transaction were not disclosed, however, the deal is not cash transaction.
PhonePe is Flipkart’s third major acquisition in payments, after it bought payments start-up NGPay in 2014, and FX Mart Pvt. Ltd, which owns a prepaid wallet licence, in August 2015.
About PhonePe
Founded in December 2015, Phonepe is building a product where payments can be made by just using mobile number.
The product is based on Unified Payments Interface (UPI), a new process in electronic funds transfer being launched by National Payments Corporation of India.
Shiva Thapa won Silver at Asian/Oceania Qualifying event in China
03-APR-2016
Indian boxer Shiva Thapa on 1 April 2016 won silver medal in the 56 kilogram category at the Asian/Oceania Qualifying Tournament in Qian'an, China.
Thapa defeated Kazakhstan's Kairat Yeraliyev in the semi-finals to earn the medal.
With this win, the 22-year-old Thapa became the first Indian boxer to book a seat in the Rio Olympics.
In the final clash, Thapa faced 0-3 defeat to Thailand's Chatchai Butdee. Butdee is the reigning Asian champion while Thapa is a World Championship bronze-medallist.
About Shiva Thapa
•Shiva Thapa is an Indian boxer from Guwahati, Assam.
•He participated in the 2012 London Olympics, and was the youngest Indian boxer to qualify for the Olympics.
•He is ranked 3rd in the bantamweight category in the AIBA Men's World Ranking.
•He is the third Indian to clinch Gold at the Asian Games.
FICCI, AIBC signed MoU to strengthen business ties
03-APR-2016
The Federation of Indian Chambers of Commerce & Industry (FICCI) announced on 1 April 2016 that it has inked a Memorandum of Understanding (MoU) with Australia India Business Council (AIBC). The MoU aims at strengthening and promoting business ties with Australia.
The agreement was signed in the presence of the visiting Finance Minister Arun Jaitley during the Invest in India Round Table Conferencein Melbourne, Australia.
Key highlights of the MoU
•The agreement reinvigorates the ongoing relationship between the two organisations to further promote, facilitate and grow the trade and investment relationship between India and Australia.
•It also solidifies the partnership for the upcoming Engaging with Indiaconference, which will be held on 16 May and 17 May 2016.
About Australia India Business Council
The AIBC is a national membership organisation with active chapters in Sydney, Melbourne, Brisbane, Adelaide, Perth and Canberra.
It maintains close relationships with federal and state government agencies, the diplomatic corps and industry bodies.
AIBC activities in Australia and India include:
•Policy and business planning initiatives with major stakeholders including the Indian government, Federal and State governments of Australia, major trade and investment bodies.
•Organising targeted Australian business delegations to India.
•Hosting Indian business delegations in Australia.
•The Annual Australia India Addresses with high profile speakers.
•Indian Budget & Economic Updates for members.
•Major business events with dignitaries from India and Australia.
•Business networking events for the members to build partnerships with India.
•Business information and educational events for the members.
Kallol Roy appointed CMD of Bhartiya Nabhikiya Vidyut Nigam
04-APR-2016
Kallol Roy on 31 March 2016 was appointed the Chairman and Managing Director (CMD) of Bhartiya Nabhikiya Vidyut Nigam Ltd (BHAVINI).
Roy assumed the position following the superannuation of Perumal Chellapandi.
Who is Kallol Roy?
•Kallol Roy had served as the Head of the Research Reactor Maintenance Division, Reactor Group, BARC. He was responsible for total maintenance management of all plant systems and equipment, carrying out modifications and upgrading mechanical and electrical systems and computerising various plant systems.
•He holds a PhD in fault diagnostics-systems and control from IIT-B and a post doctorate degree in computer process control from the University of Alberta, Canada.
About Bharatiya Nabhikiya Vidyut Nigam Ltd.
•BHAVINI is a government-owned corporation of India.
•It was established in 2004 in Chennai.
•It is wholly owned by the Union Government and is responsible for the construction, commissioning and operation of all Stage II fast breeder reactors envisaged as part of the country’s three stage nuclear power programme.
•It is administered by the Department of Atomic Energy (DAE).
•Once the first fast breeder reactor, called Prototype Fast Breeder Reactor (PFBR) goes into commercial power production, BHAVINI will be the second power utility in India after Nuclear Power Corporation of India (NPCIL), to use nuclear fuel sources to generate power.
West Indies defeated England to win ICC World T-20 Men’s final
04-APR-2016
West Indies on 3 April 2016 won the ICC Cricket World T-20 Men’s Cup 2016. In the final clash at Eden Gardens, Kolkata, West Indies defeated England by 4 wickets.
England batting first was bowled out at a score of 155 for 9 wickets and in reply to the target West Indies scored 161 at the loss of 4 wickets in 19.4 over.
• Player of the match –Marlon Samuels (West Indies)
• Player of the series – Virat Kohli (India)
Captains of the two teams
• West Indies–Darren Sammy
• England – Eoin Morgan
With this win, West Indies became the only team so far to win the ICC World Twenty20 title twice, having secured it last in 2012.
Earlier, West Indies won their maiden Women's World T-20 title by defeating reigning champions Australia by 8 wickets at the Eden Gardens in Kolkata.