Union Cabinet approves relaxation of rules to Alliance Air between India & Sri Lanka

Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved exemptions in Air India's subsidiary-Alliance Air for the operation of international flights between India & Sri Lanka.

Under the rules of the Ministry of Civil Aviation (MOCA), an airline can conduct international flight operations only when it has minimum 20 aircraft.

India has close bilateral ties with Sri Lanka to increase connectivity and to expand people to people contacts between the two countries.

5 IIITs to get the status of Institution of National Importance

The Union Cabinet chaired by Prime Minister Narendra Modi has approved to bestow the status of Institution of five Indian Institutes of Information Technology, (IIITs).

The bill will provide the status of Institutions of National Importance to the remaining five IITs along with the existing 15 IIITs in PPP mode include IIITs in Surat, Agartala, Bhagalpur, and Raichur.

The cabinet has approved the introduction of the Indian Institutes of Information Technology Laws (Amendment) Bill, 2020.

India ranks 40 out of 53 countries on International Intellectual Property index

India ranked 40th position on a global International Intellectual Property (IP) Index. 

It was released by the Global Innovation Policy Center (GIPC) of the US Chambers of Commerce.

The index has been topped by the US, followed by UK, Sweden, France and Germany. 

Global Innovation Policy Center (GIPC) conducted a survey for 53 countries.

India, Russia signed 14 MoUs at the 15th round of IRMIC

The fifth round of India-Russian Military Industrial  Conference (IRMIC) was held on the sidelines of the Defexpo 2020 in Lucknow.

The conference was co-chaired by Indian Defence Secretary Dr. Ajay Kumar, and Deputy Minister of Industry and Trade of Russian Federation Mr. Oleg Ryazantsev.

14 MoUs were signed between Indian and Russian Original Equipment Manufacturers (OEMs) companies during the conference.

RBI's 6th Bi-monthly Monetary Policy 2019-20 released

The Reserve Bank of India's Monetary Policy Committee has released its 6th Bi-monthly Monetary Policy 2019-20.

RBI has increased the real GDP growth for the Fiscal year 2020-21 from 5% to 6%.

The policy repo rate under the liquidity adjustment facility ( LAF) remains unchanged to 5.15%.

The reverse repo rate under the LAF remains unchanged at 4.90%.

The Marginal Standing Facility (MSF) rate and the Bank Rate at 5.40%.

LinkedIn CEO Jeff Welner stepped down

LinkedIn CEO Jeff Weiner is stepping down after 11years in the role and will become Executive Chairman (EC).

LinkedIn is a professional networking company owned by Microsoft.

Ryan Roslansky, Senior Vice President of  LinkedIn will become the CEO effective June 1, 2020.

He is the successor of Jeff Weiner.

Tomer Cohen currently Vice President of Marketing Solutions will replace Raslansky.

Duff & Phelps’ celebrity report: Kohli tops celebrity brand value list for 3rd time

Duff & Phelps published the celebrity brand evaluation report for 2019.

Indian Captain Virat Kohli has retained the top position for the third consecutive time. 

Kohli's brand value has gone up to $237.5 million in 2019 with a jump 39%.

Actor Akshay Kumar becomes the 2nd position with value of $104.5 million.

Ranveer Singh and Deepika Padukone became the 3rd position with a brand value of $93.5 million each.

Padukone has also retained the most valuable female celebrity status for the 2nd consecutive year.

Saurav Ganguly Goodwill Ambassador for Tokyo Olympics

The Indian Olympic Association has been invited BCCI President Saurav Ganguly to become the  Goodwill Ambassador of India in the Tokyo Olympics Games 2020.

It is only the second time that Team India will have a Goodwill Ambassador.

The Tokyo Olympics Games will be held from July 24 to August 9, 2020.

Weightlifting Sambo Lapung wins gold with national record

Weightlifting Sambo Lapung scripted a new National record of 188kg in clean and jerk and has won the gold medal in the men's 89kg of the National Weightlifting Championships held in Kolkata.

Lapung who the 81 kg silver medal last year, hoisted 145kg to take a one kg lead over R.V.Rahul in the snatch.

Lapung, from Arunachal Pradesh, a former National champion in 69kg - won a National title after four years.