1. NCR relocates to new R&D centre in Hyderabad
NCR Corporation, a global leader in omni-channel solutions, today launched its new state-of-the-art research and development (R&D) centre.
It said “this modern R&D centre will help extend NCR’s leadership in omni-channel solutions and to create innovative products and platforms for channel transformation and digital enablement.
2. India-New Zealand DTAA: Third Protocol notified
India has notified the third Protocol amending the existing double taxation avoidance convention (DTAC) with New Zealand.
This Protocol — which was signed by both countries on October 26, 2016 — provides for a revamped framework of exchange of tax related information in line with international standards. This will help curb tax evasion and tax avoidance between the two countries and will also enable mutual assistance in collection of taxes.
3. Chennai to host ATP Challenger tournament in February
Tamil Nadu Tennis Association (TNTA) will conduct the Chennai Open Challenger Tennis Tournament 2018, an ATP Challenger event here from February 12 to 18, February 2018.
A press note from TNTA said “The tournament will be held at the SDAT Tennis Stadium at Nungambakkam”. The Association of Tennis Professionals (ATP) and All India Tennis Association (AITA) have approved the event, it added.
4. India clinches six-run win in an eight-over shoot out
India clinched a six-run win in the third game to notch up its first-ever Twenty20 series victory over New Zealand in front of a sell-out crowd at the Sports Hub.
The final encounter of the three-match series for the Paytm Trophy — limited to eight overs a side following a three-hour delay owing to rain — was a nerve-wracking affair.
5. Fintech sector gains currency as country goes on less-cash drive
Demonetisation gave the much needed impetus to the fintech sector, paving the way for a cashless economy.
The resulting cash crunch not only helped boost digital transactions but also brought transparency and accountability into financial transactions. Banks too witnessed a surge in their CASA (current and saving accounts) and digital transactions.
6. Earth will turn into fireball by 2600: Hawking
British physicist Stephen Hawking has warned that the human race will perish on Earth as growing population and massive power consumption would turn the planet into a sizzling fireball in less than 600 years.
Hawking said “to ensure the survival of our species for another million years, humans must “boldly go where no one has gone before”
7. UNSC asks Myanmar to end military campaign in Rakhine state
Stepping up pressure on Myanmar, the UN Security Council has come out with a unanimous statement asking it to end the military campaign in Rakhine state and ensure the safe return of Muslim Rohingya refugees driven from their homes.
The 15-member powerful wing of the UN also demanded safe, unhindered access for its agencies and their partners to provide humanitarian assistance. Britain and France dropped a push for the Security Council to adopt a resolution on the situation to appease council veto power China, a supporter of Myanmar’s former ruling junta.
8. Banks’ dilemma: High on funds, but low on notes
Over the past year, bank lending rates came down almost 100 basis points, term deposit rates declined by up to 75 basis points, the usually sticky savings bank deposit rate came off 50 basis points and digital transactions soared.
Normally, these developments would have unfolded over a couple of years. But all this happened double-quick after the Modi government announced that specified bank notes (SBNs) — ₹500 and ₹1,000 — would no longer be legal tender.
9. Banks should harness power of customer data available: Report
A study by Boston Consulting Group notes “Banks, no doubt, have large amounts of data on their customers. And this “data” is one “brahma-astra” that can unleash unprecedented value for Indian banks, as it reveals the full financial genomre of the customer — be it an individual or a corporate. Banks should, therefore, leverage this (data) to their advantage”
The report titled “Hidden Treasure: How data can turn the fortunes for Indian Banks” argues that using data in every component of the banking business model could cumulatively add Rs. 3 lakh crore to the bottom line over the next five years.
10. VAT on petrol and diesel: State to take decision after PwC report
The State government is likely to take a couple of weeks more to take a decision on the demand to slash the additional Rs. 4 VAT on petrol and diesel.
The government has appointed the PricewaterhouseCoopers (PwC) as consultant to study the implications of reduction in VAT on petroleum products.