KARNATAKA

Karnataka accounts for 44% of India’s investment plans

Karnataka accounts for an almost-unbelievable 44.3% of t he total investment intentions in the country in 2017. The figures from the Union commerce and industry ministry for January to September show Rs 1,47,625 crore worth of investment proposals have come into the state. That’s out of a total of Rs 3.3 lakh crore for the whole of India.
Gujarat follows way behind at Rs 65,741crore. Karnataka was the No. 1 state even in 2016, accounting for 37% of investment intentions. In 2015, this was 10%, and the state was behind Gujarat, Chhattisgarh and Maharashtra. Many of these intentions will not translate into actual investments, or may happen over several years, but that will be true for most states. So the differences in actual flows across states may not be very different from that in investment proposals.

INTERNATIONAL

· India Re-elected Member of UNESCO Executive Board

India re-elected as the member of the UNESCO’sexecutive board, its top decision-making body.
The election was held at the 39th sessionof the General Conference of the UNESCO in Paris, France.
The General Conference consists of the representatives of the States Members of the organization.

Each country has one vote, irrespective of its size or the extent of its contribution to the budget.

· Uber joins forces with NASA to develop flying taxis

Uber unveiled a partnership with NASA (National Aeronautics and Space Administration) to develop flying taxis priced competitively with standard Uber journeys.
The first demonstration flights are expected in 2020 and will move into commercial operations by 2023, with plenty of time for the 2028 Olympic Games in Los Angeles.
An Uber Air journey would take three times less time than the same journey by car.

NATIONAL

Modi, Hasina, Mamata flag-off Kolkata-Khulna train service

A new passenger train service between Kolkata and Bangladesh’s southwestern industrial city of Khulna was flagged off by Prime Minister Narendra Modi, his Bangladesh counterpart Sheikh Hasina and the West Bengal chief minister.

A fully air-conditioned weekly passenger train service ‘Bandhan Express’ will run every Thursday from both Kolkata and Khulna.

On the occasion, Modi said the ties of friendship between India and Bangladesh have further strengthened.

‘Suno RBI Kya Kehta Hai’ campaign against fake offers soon

The Reserve Bank will soon launch an awareness campaign – Suno RBI Kya Kehta Hai – through SMSes to warn the public against falling prey to unsolicited and fictitious offers from fraudsters.

The drive comes amid rising instances of fraudsters trying to dupe gullible customers by promising them lucrative financial gains and prize money through e-mails and SMSes, and even through phone calls.

The cautionary messages will be sent from ‘RBISAY’ sender ID.

Union minister Alphons elected unopposed to Rajya Sabha

Union Minister of State for Tourism and BJP leader Alphons Kannanthanam was elected unopposed to the Rajya Sabha from Rajasthan.

The seat fell vacant after M Venkaiah Naidu s election as the country’s vice president on August 5.

Secretary of the legislative assembly Prithvi Raj said Kannanthanam was elected unopposed as no other nomination was filed for the seat.

· PayPal Launches Domestic Payments in India

American digital payments company PayPallaunched domestic operations in India.
At launch, Indian consumers will be able to make transactions at select online merchants.

Merchants offering PayPal will be able to process both local and global payments through the platform getting access to PayPal’s more than 200 million customers around the world and in India through a single integration.

· IRDA makes linking of Aadhaar with insurance policy mandatory

Insurance Regulatory and Development Authority of India (IRDA)announced that linking of Aadhaar number to insurance policies is now a mandatory requirement under Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017.
This norm of linking Aadhaar number to insurance policies will apply to new customers as well as existing policyholders.
Besides, it will apply not only to life insurance policies but also to general insurance policies.
Insurance industry experts believe that this norm will be helpful during claims settlement.

· Dubai based Emirates NBD bank begins operations in India

United Arab Emirates (UAE’s) second largest bank, Emirates NBD started operations in India by opening a branch in Mumbai.
Plan to invest USD 100 million capital into its Indian operations over a period of time.
The Mumbai branch is Emirates NBD’s fifth international branch outside of its UAE.
Emirates NBD’s Mumbai branch will offer a range of services to corporate, institutional clients and Small and Medium Enterprises (SMEs).

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