China's 7000-kg space station Tiangong-1 to crash into Earth this week
Breaking down into several big pieces, Chinese space station weighing over 7 tonnes will crash into our planet on or around April 1. Chinese authorities are monitoring its move, it could crash in a northern US state such as Michigan. The European Space Agency said that most of the Tiangong-1 (Heavenly Palace) will burn up even before hitting the land and the extent of human casualty is receding. The station was put into orbit in September 2011 and took part in 2 missions. Northern China, central Italy, northern Spain, the Middle East, New Zealand, Tasmania, South America and South Africa have also been identified as regions with a high chance of impact. The Heavenly Palace is expected to break into pieces as big as 100kg while making a plunge into the planet. Tiangong-1 was launched on 1 October 2011, the Chinese National Day. In September 2016, Chinese officials confirmed that they had lost control of the space lab and that it would crash into Earth sometime in the latter half of 2017. In May, China told the United Nations that the lab would reenter Earth between October and April 2018.
SEBI Allows Physical Settlement Of Stock Derivatives
The stock market regulator Securities & Exchange Board of India (SEBI) allowed physical settlement of both stock options and stock futures. At present only cash settlement of derivatives is allowed. SEBI stated stock exchanges will also have the flexibility to offer a combination of cash settlement for stock options and physical settlement for stock or physical settlement for stock options and the cash settlement for stock futures.
Reserve Bank of India Imposes Rs 58.9 Cr Penalty On ICICI Bank
The Reserve Bank of India ( RBI) imposed a monetary penalty of Rs. 58.9 crore on ICICI Bank Limited for non-compliance with the directions issued by the RBI on direct sale of securities from its Held To Maturity (HTM) portfolio and specified disclosure in this regard. The Central Bank stated this penalty has been imposed in the exercise of powers vested with the RBI under the provisions of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to its directions/guidelines.
CCEA Approves Continuation Of Credit Guarantee Fund Scheme For Education Loans
The Cabinet Committee on Economic Affairs (CCEA) approved the continuation of the Credit Guarantee Fund for Education Loans Scheme and continuation and modification of Central Sector Interest Subsidy Scheme with a financial outlay of 6,600 crore rupees from 2017-18 to 2019-20. The scheme will cover loans for pursuing professional and technical courses to promote quality education. CEA also approved a proposal to formulate an Integrated Scheme on school education by subsuming Sarva Shiksha Abhiyan, Rashtriya Madhyamik Shiksha Abhiyan and Teacher Education from 1st April 2018 to 31st March 2020. An estimated allocation of 75,000 crore rupees approved for this which is a 20 percent increase over the current allocations.
Vice-President M Venkaiah Naidu launches NTR biopic
Vice-President M Venkaiah Naidu officially launched the most anticipated biopic of legendary actor and former Andhra Pradesh Chief Minister N T Rama Rao. The opening ceremony took place at Ramakrishna Horticultural studios here. Naidu pointed out that President, Vice -President doesn't attend film events but out of his respected and love for NTR, he opted to witness the historic moment. Speaking on this occasion, Naidu underlined the contribution of legendary actor and described NTR as the pride of Telugu People all over the World. The Vice -President extended his best wishes to Nandamuri Balakrishna who will be essaying the role of the great actor and heaped praises on the entire team for helming the epic tale. On the first day of the shoot, Balakrishna who is playing his father NTR's role appeared as Suyodhana from 'Daana Veera Soora Karna' for the muhurtham scene.
Union Cabinet Approves Rs 4,500 Crore To Boost Development Projects In North-East
The Union Cabinet approved Schemes of North Eastern Council (NEC) including the continuation of existing Schemes. It will boost the development projects in North-East. Four thousand five hundred crore rupees have been approved for the scheme for three years up to March 2020. The Scheme of NEC- Special Development Project will be changed to be a Central Sector Scheme with 100 percent grant.