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The Reserve Bank of India (RBI), which classified IDBI as a private sector bank last month, has granted Life Insurance Corporation (LIC) with 12 years to cut its stake in the bank by 10 percent. RBI has stipulated that after 12 years LIC has to reduce stake in IDBI Bank by 10 per cent to 40 per cent. LIC is the major shareholder of IDBI Bank. It has a 51 per cent stake in the Bank. The government is the other major investor in IDBI Bank owning 46.46 per cent while the rest is with the public. As per the Insurance Regulatory and Development Authority (IRDAI), LIC can hold up to 15 percent stake in any bank which can go up to 30 percent as per the board approval. But the insurance regulator has allowed LIC to invest up to 51 percent in IDBI Bank last year. About Life Insurance Corporation: ♦ Headquarters:  Mumbai ♦ Owner:  Government of India ♦ Founder:  Government of India ♦ Founded:  1 September 1956 ♦ Interim chairman: Hemant Bhargava About Reserve Bank of India: ♦ Headquarters:  Mumbai ♦ Founder:  British Raj ♦ Founded:  1 April 1935, Kolkata ♦ Governor:  Shaktikanta Das ♦ Subsidiary: National Housing Bank (NHB) About IDBI Bank: ♦ IDBI Full Form- Industrial Development Bank of India ♦ Headquarters:  Mumbai ♦ Founded:  1 July 1964

Dr. A K Singh, director at Life Sciences, DRDO has been honoured with Lifetime Achievement Award 2019 during 4th APJ Abdul Kalam Innovation Conclave at Chandigarh University, Mohali.  He has made notable contributions in Internal Decorporation of Fission Produced Radionuclides and Infection Imaging. He also discovered a Diagnobact Kit to detect the infectious lesion. He also introduced Pharmacosyntigraphy,  i.e. application of nuclear medicine imaging in drug research. 4th Dr. APJ Abdul Kalam Innovation Conclave: For Best Innovative Project Awards 2019, 965 innovative projects competed against each other. Pankaj Sharma bagged the first position and Best Innovation of the Year Award 2019, for Smart Trolley Bag project.  Pratul and Abhishek shared second place. Pratul acquired award for Automatic Toilet Cleaner project. Abhishek won for prototype model for Accident Management System respectively. Third prize was jointly won by Vaibhav and Daniyal for treatment of textile affluent and plastic with bio-mass to help in controlling water and air pollution. Defence Research and Development Organisation (DRDO): ♦ Formed on: 1958 ♦ Headquarters: New Delhi ♦ Chairman: Dr.G.Satheesh Reddy  ♦ Minister responsible: Nirmala Sitharaman ♦ Parent: Ministry of Defence ♦ It is charged with the military's research and development

Telugu poet K Siva Reddy selected for the prestigious Saraswati Samman 2018 for his collection of poetry titled Pakkaki Ottigilite.  The award carries a cash prize of 15 lakh rupees, a citation and a plaque. About Saraswati Samman 2018 Awards The Saraswati Samman is an annual award for outstanding prose or poetry literary works in any 22 Indian languages listed in Schedule VIII of the Constitution of India.  It is named after an Indian goddess of learning and is considered to be among the highest literary awards in India. Currently held by Sitanshu Yashaschandra

Pakistan’s Inzamam-ul-Haq and South African Mark Boucher were inducted as the Honorary Life Members of the Marylebone Cricket Club (MCC), in recognition to their outstanding achievements in the game of cricket. About Inzamam-ul-Haq: Former Pakistan skipper and batsman Inzamam played 120 Tests, 378 One-Day Internationals (ODIs) and one Twenty20 International (T20I). In Tests, he scored 8,830 runs at an average of 49.60, with 25 centuries and 46 half-centuries. In ODIs, he tallies 11,739 runs at an average of 39.52. He made his international debut in 1991, featuring in Pakistan’s successful 1992 World Cup campaign. He captained Pakistan from 2001 to 2007. After his retirement in 2007, Inzamam had a brief stint with the Afghanistan national team as head coach. In 2016, he became Pakistan’s chief selector. Inzamam is now the fifth Honorary Life Member of the MCC from Pakistan, after Imran Khan, Wasim Akram, Waqar Younis and Shahid Afridi. About Mark Boucher: He was the first wicketkeeper to claim 500 catches in Tests. He made his international debut in 1997 and retired in 2012. He holds the record for the most wicket keeping dismissals across formats - 998 in total. Boucher is also the fifth Honorary Life Member of the MCC from South Africa, after Allan Donald, Jonty Rhodes, Shaun Pollock and Daryll Cullinan.

The UNESCO/Guillermo Cano Press Freedom Prize 2019 has been awarded to Reuters reporters Wa Lone and Kyaw Soe Oo. The prize carries a reward of $25,000 Prize. It is funded by the Guillermo Cano Isaza Foundation (Colombia), the Helsingin Sanomat Foundation (Finland), and The Namibia Media Trust. The award recognises their exceptional courage in reporting on alleged human rights violations in Myanmar's state of Rakhine. Both Wa Lone and Kyaw Soe Oo's documentary on the taboo topic regarding crimes committed against Rohingyas landed them behind the bars. The award paid a tribute to their courage, resistance and commitment to freedom of expression. UNESCO/Guillermo Cano Press Freedom Prize: The award was established in 1997. The Prize is named after Guillermo Cano Isaza, the Colombian journalist who was assassinated in front of the offices of his newspaper El Espectador in Bogota, Colombia, on 17 December 1986. It is an initiative of UNESCO's Executive Board. It honours a person, organization that has made an outstanding contribution to the defence and, or promotion of press freedom anywhere in the world in the face of danger.

Forbes has compiled a first-ever list of the World's Best Bank 2019 in terms of customer services and technological advancements. The private lender, HDFC Bank, was ranked at the top of the ‘Forbes Best Indian Banks 2019’ list. HDFC Bank claims to provide the best of its technological features to its 43 million customers. Another private lender ICICI Bank took the second spot, while DBS was at the third rank in Forbes list of Indian banks. Kotak Mahindra Bank and IDFC Bank had managed to gain the fourth and fifth spot respectively. Syndicate Bank, PNB, Allahabad Bank, Vijaya Bank and Axis Bank were ranked from sixth to tenth respectively. Forbes had partnered with Statista, a market research company, to measure the best banks in 23 countries. The survey compiled data from around 40,000 customers around the world for their opinions on their banking relationships. The banks were rated on the basis of 5 key attributes - trust, digital services, financial advice and fees. About HDFC bank: ♦ HDFC Bank is India’s largest private sector lender by assets. ♦ CEO: Aditya Puri ♦ Headquarters: Mumbai ♦ Founded: August 1994, India ♦ It has a presence in Bahrain, Hong Kong and Dubai.

Palestine’s New Prime Minister Mohammed Ishtayeh, a veteran peace negotiator and harsh critic of Gaza’s Hamas rulers, and his 22-member cabinet took the oath of office a second time, on April 14, 2019. The ministers neglected to include a clause pledging faithfulness “to the people and its national heritage” during ceremony on April 13. The 18th Palestinian government since the establishment of the Palestinian Authority in 1995 was sworn in according to a presidential decree issued by Mahmoud Abbas. The new Cabinet replaces a technocratic government formed by Rami Hamdallah in 2014 after an agreement between Fatah and Hamas, the Islamic militant group that has run the Gaza Strip after ousting Fatah and evicting the Palestinian Authority in 2007. Ishtayeh faces challenges, with the Palestinian Authority in a deep financial crisis after U.S. sanctions and Israel's decision to withhold $138 million in tax revenue it collects on behalf of the Palestinians. About Palestine: ♦ Capitals: Ramallah, East Jerusalem ♦ US recognized Jerusalem as Israel’s capital in 2018. ♦ President: Mahmoud Abbas ♦ Currencies:  Israeli Sheqel, Jordanian Dinar, Egyptian Pound

The  Central government appointed Gargi Kaul as Secretary, Defence Finance.  She is a 1984-batch officer of the Indian Audit and Accounts Service (IA&AS).  About Defence Ministry Formed: 1776; 243 years ago  Headquarters: Cabinet Secretariat Raisina Hill, New Delhi Ministry executives: Sanjay Mitra, IAS, Defence Secretary Dr. Ajay Kumar, IAS, Secretary (Defence Production) Sanjeevanee Kutty, IAS, Secretary (Ex-Servicemen Welfare) Dr. Sanjay Mitra, Secretary (Defence Research and Development)[8] Dr. G. Satheesh Reddy.