Current Affairs 2017 - April

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Five Indians in WEF’s 2017 young global leaders list

Five Indians were named in 2017 World Economic Forum’s 100 Young Global Leaders list. They are Vijay Shekhar Sharma (Paytm Founder and CEO), Shruti Shibulal (The Tamara Hospitality), Ambarish Mitra (Founder and CEO Blippar), Hindol Sengupta (Editor-at large Fortune India) and Rwitwika Bhattacharya-Agarwal (Founder and CEO Swaniti Initiative). There were nine global leaders from South Asia, out of which five are from India. Besides, there are some persons of Indian origin from US and Europe named in the list. Each year, the WEF selects 100 young business leaders, under the age of 40, who are tackling the world’s most complex challenges with innovative approaches.

Essar’s Nand Niketan: India’s first private sector township to go cashless

Essar’s Nand Niketan at Hazira (in Surat district, Gujarat) became India’s first private sector township to go cashless, using the mobile wallet for performing digital transactions. Mumbai-based tech company was roped by the township to provide smartphone based application for mastercard-enabled mobile wallets. So far around 8,000 prepaid cards were issued in the township to the employees, merchants and shop owners operating within its precincts. An average of Rs 2 lakh worth of digital transactions are being executed every day.

CCI gives nod to Reliance Communications, Aircel merger

The Competition Commission of India (CCI) has given its approval to demerger of Reliance Communications (RCom) wireless division into Aircel Ltd. and Dishnet Wireless Ltd. The combined entity will have assets worth Rs. 65,000 crore.  The merger already has received approval from the Securities and Exchange Board of India (SEBI) as well as from the stock exchanges BSE and NSE. It will also reduce RCom’s debt by Rs 20,000 crore while Aircel’s debt would go down by Rs 4,000 crore closing in 2017.