1. INDIA TO BE GUEST OF HONOUR COUNTRY AT ABU DHABI INTERNATIONAL BOOK FAIR (ADIBF) 2019
✔UAE selected India as the Guest of Honour country at the Abu Dhabi International Book Fair 2019, to attract a significant increase in the number of visitors with various events and activities.
✔The purpose of this book fair is to highlight the UAE’s rich heritage, showcasing its authenticity, modernity, as well as its cultural and literary output.
United Arab Emirates
President: Khalifa bin Zayed Al Nahyan
Prime Minister: Mohammed bin Rashid Al Maktoum
Capital: Abu Dhabi
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2. RBI GRANTS 12 YEARS TO LIC FOR REDUCING STAKE IN IDBI BANK
✔Life Insurance Corporation, the largest insurance company in India, got 12 years from RBI for cut down stake in IDBI Bank.
✔LIC is the lender’s major shareholder, and it has a 51 per cent stake in the Bank.
✔Insurance Regulatory and Development Authority claimed that LIC can take up to 15 percent stake in any bank,which can stretch up to 30 percent as per the board approval.But the insurance regulator has authorised LIC to hold up to 51 percent in IDBI Bank in 2018.
The Insurance Regulatory and Development Authority of India is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India.
Founded: 1999
Headquarters: Hyderabad
Chairperson: Subhash Chandra Khuntia
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