1. UCO Bank bags SKOCH award
i. Kolkata-based UCO Bank has been awarded the “Platinum SKOCH Inclusion & Deepening Award 2014” for “excellence in banking”. The award was presented by MP Minakshi Lekhi to Arun Kaul, CMD, UCO Bank.
ii. According to a release issued by the bank, it has adopted 18 villages across 10 States for the uplift of below-poverty-line households. It has trained 46,659 persons, of which 27,000 have become economically self-reliant with a credit linkage of Rs590 crore.
2. Exim Bank partners with ICCR for setting up a Chair at Lagos Business School
i. Export-Import Bank of India (Exim Bank) on Friday entered into a memorandum of understanding (MOU) with the Indian Council of Cultural Relations (ICCR) for establishment of a Chair for financial management in Lagos Business School, Nigeria.
ii. The MOU was exchanged between Yaduvendra Mathur, Chairman & Managing Director, Exim Bank and Satish C Mehta, Director General, ICCR.
iii. “This initiative of ours is at the behest of the commerce ministry. This is the first time we are supporting a Chair. The idea came from ICCR and was sent to the commerce ministry, said Mathur, who saw Nigeria as a strategic country for India.
iv. Mathur said that Exim Bank would provide ₹20 lakh each year for three financial years as part of its support to the Chair.
v. This move comes on the heels of Exim Bank providing a $ 100 million line of credit to Nigeria in May 2014 for power sector investments.
3. DU rolls back FYUP, reverts to three-year structure
i. Under pressure from UGC to act on its directive, the Delhi University on Friday scrapped its controversial four-year undergraduate programme and reverted to the previous three-year structure.
ii. In a statement, DU Vice Chancellor Dinesh Singh asked principals of various colleges affiliated to the varsity to start admissions for the new session.
"In line with the directive of the UGC, the University has decided to roll back the FYUP. Consequently, the admission process shall be conducted under the scheme of courses that were in force in the academic session 2012-13 in all the colleges of the University of Delhi," Singh said.
iii. The decision puts an end to the uncertainty over the admission process for 2014-15 which was triggered due to the stand-off between DU and UGC over FYUP.
iv. Over 2.7 lakh students have applied for admission to more than 54,000 seats in 64 colleges of the varsity. v.
v. The admissions were to begin on June 24 but have been delayed due to the stalemate.
vi. Singh said DU recognises the need of the hour and it is of "paramount importance" to protect the interests of the students by ensuring the start of the admission process. "It is expected that the principals of our colleges shall assist in devising and ensuring a speedy completion of the admission process," he said.
"In line with the directive of the UGC, the University has decided to roll back the FYUP. Consequently, the admission process shall be conducted under the scheme of courses that were in force in the academic session 2012-13 in all the colleges of the University of Delhi," Singh said.
iii. The decision puts an end to the uncertainty over the admission process for 2014-15 which was triggered due to the stand-off between DU and UGC over FYUP.
iv. Over 2.7 lakh students have applied for admission to more than 54,000 seats in 64 colleges of the varsity. v.
v. The admissions were to begin on June 24 but have been delayed due to the stalemate.
vi. Singh said DU recognises the need of the hour and it is of "paramount importance" to protect the interests of the students by ensuring the start of the admission process. "It is expected that the principals of our colleges shall assist in devising and ensuring a speedy completion of the admission process," he said.
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