The Daily Brief – 21st September 2017

September 21, 2017

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India has replaced China as the top retail destination in 2017 as part of the global retail development index, an annual survey of 30 countries conducted by A.T. Kearney.
The World Health Organization (WHO) has released its first installment of emergency funding of $175,000 to provide life-saving healthcare to the “vulnerable population” in Bangladesh’s Cox’s Bazar.WHO was established in 1948 with headquarters in Geneva, Switzerland.
The Union Government is hopeful that the strategic Chabahar Port in Iran will be operational by end of 2018. Iran is expected to submit and application to EXIM Bank of India for providing first installment of loan from the $150 million credit line to activate the contract between India and Iran for Chabahar Port construction.
India is collaborating with Russia to build Rooppur nuclear power plant in Bangladesh. It will be the first initiative under an India-Russia nuclear deal to undertake atomic energy projects in third party countries. It will also be India’s first atomic energy venture abroad. EXIM is the Export-Import Bank of India established in 1982.
The Indian Coast Guard (ICG) has commissioned two high-speed interceptor boats C-433 and C-434 boats at the Dighi Port in Mumbai, Maharashtra. These boats have been built by Larsen & Toubro (L&T) Shipbuilding in Chennai.
PSU Oil and Natural Gas Corporation (ONGC) has discovered oil in the WO-24-3 well located west of Mumbai High fields in the Arabian Sea. The well is estimated to hold in-place reserve of about 20 million tonnes.
The Union Government has issued gazette notification, notifying that Peer-to-peer lending (P2P) platforms will be treated as non-banking financial companies (NBFCs) and thus regulated by the Reserve Bank of India (RBI).