- In this regard. IOC I bank has developed the technology platform with ihe help of 117 Delhi students. The bank will implement the facility across several core functions and at the same time ensure that there is no loss of productivity. The bank has also added designs such as a unique facial recognition technology as an added security measure.
SBI Granted Operating Licence by Myanmar
- Foreign Bank Licensing Committee, Myanmar has granted operating licences to four Asian banks i.e., Bank for Investment and Development 1 of Vietnam, SBI, Taiwan’s Sun Commercial Bank I and South Korea’s Shinhan Bank granted preliminary licenses on March 4, 2016.
- The approval gives the banks 12 months to / demonstrate they can fulfill business plans laid out in their application to Myanmar’s government before they will be granted permanent licenses. With this approval, the number of foreign banks allowed to conduct 9 business in the previously isolated country is 13.
- An earlier round in late 2014 saw licenses granted to nine foreign banks, also all from Asian countries. Myanmar is home to 24 private local banks and four State-owned banks.
Corporate Sector
Airtel’s Videocon Acquisition to Boost 4G Spectrum
- Bharti Airtel’s plan on March 17, 2016 to acquire 1 1800 MHz spectrum in six Indian- service areas from smaller telco Videocon highlights Bharti’s need to boost its 4G spectrum amid pending competition from the entry of Reliance Jio, part of Reliance Industries, in 2016.
- This includes Bharti’s acquisition of spectrum in the 1800 MHz band from Videocon for 14428 crore. Airtel will fund the Rs 4428 crore spectrum acquisition from the sale of operations in Burkina Faso and Sierra Leone to France’s Orange.
- The acquisition will give Bharti the ability to offer 4G services in 19 of 22 circles compared with Jio, which has access to 4G spectrum in all 22 circles. Vodafone and Idea have 4G spectrum in five and 12 circles, respectively.
Air India Operated ‘World’s Longest ; All-women Flight’
- Air India declared on March 7, 2016 that it flew the ‘world’s longest’ alhwomen-operated flight from Delhi to San Francisco, which travelled a distance of around 14500 km in close to 17 hours. It was operated as part of International Women’s Day celebrations.
- The flight was under the command of Kshamta Bajpayee and Shubhahgi Singh, along with First Officers Ramya Kirti Gupta and Amrit Namdhari. Apart them, entire flight operations from cockpit crew to cabin crew, check-in staff, doctor, customer care staff, Air Traffic Control (ATC) and the entire ground handling were handled by women.
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