Sol. The China-led Asian Infrastructure Investment Bank (AIIB) has approved the membership of Argentina, Madagascar, and Tonga at its second annual meeting of Governors. The AIIB’s Board of Governors adopted resolutions approving the three applicants to join the bank at the second annual meeting, which kicked off earlier in the day in South Korea’s southern resort island of Jeju.
Sol. Mr Jin Liqun is the President of Asian Infrastructure Investment Bank (AIIB). It is Headquartered in Beijing, China.
Sol. The government has set up a GST facilitation cell in Department of Industrial Policy and Promotion (DIPP) to facilitate the rollout of Goods and Services Tax. The cell is headed by Economic Advisor SudhansuSekhar Das.
Sol. DIPP comes under the Government of India- Ministry of Commerce & Industry. Smt. NirmalaSitharaman is the Minister of State for Commerce and Industry (Independent Charge). The Department of Industrial Policy & Promotion was established in 1995 and has been reconstituted in the year 2000.
Sol. India’s Kidambi Srikanth has lifted the Indonesia Open Super Series badminton title by defeating Japanese qualifier Kazumasa Sakai in straight games 21-11, 21-19 in the Men’s Singles final at Jakarta, Indonesia.
Sol. In China, ahead of the third UN International Day of Yoga, thousands of Chinese would participate in scores of events organised across the country. As per the official report, it will the second biggest yoga day celebration in the world after India. The Indian Embassy in Beijing besides Indian Consulates in Shanghai and Guangzhou are also organising dozens of events commemorating the events featuring Chinese officials.
Sol. The Board of Governors of the AIIB announced that the Bank’s third Annual Meeting of the Board of Governors will be held in Mumbai, India in June 2018. India is the Bank’s second largest shareholder (China is the 1st) and is becoming an increasingly important geography for AIIB investments.
Sol. The Reserve Bank of India has initiated prompt corrective action (PCA) on Bank of Maharashtra placing a restriction on the banking activities. This RBI has said that the action is taken on the bank in view of the high level of bad loans.
Sol. Connaught Place in the national capital is the most expensive prime office market in India and the ninth most expensive office market in the world, with an occupancy cost of $153.89 per square feet, according to the bi-annual Global Prime Office Occupancy Costs survey of US-based CBRE.