1. DRDO signs deal with JSHL
- DRDO has signed a technology transfer agreement with Jindal Stainless (Hisar) Limited (JSHL) for manufacturing High Nitrogen Steel.
- The agreement was signed between between the Defence Metallurgical Research Laboratory and JSHL.
- High Nitrogen Steel has higher ballistic strength than normal steel and currently India largely depends on imports.
2. HDFC Bank launches chatbot Eva for customer services
- HDFC Bank announced the launch of an electronic virtual assistant (EVA), an artificial intelligence-driven chatbot, for customer services.
- Eva is India’s first AI-based banking chatbot and can answer millions of customer queries across multiple channels instantly, HDFC Bank said in a statement.
- The says that Eva can assimilate knowledge from thousands of sources and provide answers in simple language in less than 0.4 seconds.
3. Yatra.com inks MoU with Madhya Pradesh
- Under the MoU Yatra will promote all the state tourism approved homestays, where travellers can book a room with a local family or the entire house.
- Yatra will list over 90 properties on its website and encourage the growth of homestays in Madhya Pradesh, giving tourists a very homely experience.
- Yatra.com had recently signed MoU with Uttarakhand, Andhra Pradesh and Gujarat govt.
4. Ind foreign exchange reserves increases
- India’s foreign exchange reserves increased by USD 63.7 million to USD 362.79 billion in the week ended 24th February 2017.
- Gold reserves remained unchanged at 19.248 billion.
- India’s special drawing rights with the International Monetary Fund rose by a marginal USD 100,000 to USD 1.444 billion, while the country’s reserve position also increased by USD 0.2 million to USD 2.318 billion.
5. Half of India-Bangladesh border fenced
- Half of the 4,096-km border India shares with Bangladesh has been fenced. Land acquisition is a major challenge to completing the work by the 2019 deadline.
- The border runs along West Bengal for 2,216.7 km, Assam 263 km, Meghalaya 443 km, Tripura 856 km and Mizoram 318 km.
- The aim of the project is to curb infiltration and smuggling of cattle and fake Indian currency notes.
6. India, Pak to hold parleys on Indus Waters Treaty in Lahore
- India and Pakistan will hold parleys on various aspects of the Indus Waters Treaty (IWT) in Lahore on March 20 and March 21.
- The meeting of the Permanent Indus Commission (PIC) will take place nearly six months after New Delhi decided to suspend talks on the pact in view of the Uri terror attack by Pakistan-based outfits.
- The meeting is being held “as the IWT, 1960 makes it mandatory” to hold parleys under the pact at least once in a fiscal.
7.FIIs continue to favor India; inflows to rise post June: StanC
- China has lowered its gross domestic product (GDP) growth rate target to 6.5 percent for 2017 from last year’s estimate of 6.7 percent as it prepares for a moderation.
- David Mann of Standard Chartered said the new target is not dramatic and stability must be the number one objective for China.
- There is a lot less panic in markets about where the growth risks lie, he said. Speaking of India, Mann said the change in RBI’s monetary policy stance from accommodative to neutral has been interesting.
8. India added 268.9 mn new Internet users since 2014: Adobe
India accounted for more than half of the 500-million new Internet users globally who have come on board in the last three years, a report by software firm Adobe said today. According to Mobile Adobe Digital Insights (ADI) Report, India has a strong position in driving momentum of smartphones and number of new internet users globally and in the Asia Pacific region.
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