Current Affairs Update 18th November 2015


Shootout in Northern Paris in Police Raid Linked to Friday Terror Attackparis-shooting_650x400_71447825854

  • Two persons are believed to have been killed in a shootout in a Paris suburb as special police forces launched an operation early on Wednesday linked to Friday’s terror attack in which 129 people were killed.
  • Several police officers have been wounded in the shooting and three men have been detained, say sources.
  • A heavily armed special response unit raided an apartment in which suspects were believed to be holed up.
  • BFMTV and iTele both showed amateur video of the shootings and cited witnesses in the area saying they had heard sporadic gunfire since around 4:30 a.m.
  • ‘Deafening explosions’ and shooting were heard from the area, said residents, many switched off all lights and hid. Traffic was blocked to the area where only helicopters, ambulances and police cars were visible.

Ola Raises $500 Million From SoftBank, Didi Kuaidi, and Othersola_12_reuters

  • Taxi aggregator Ola has raised $500 million (roughly Rs. 3,299 crores) from Baillie Gifford, Tiger Global, SoftBank Group and others to fuel capacity building and drive new use cases as it up the ante to compete with rivals like US-based Uber and homegrown Meru.
  • Ola has closed the Series F funding, raising $500 million from Baillie Gifford, China’s Didi Kuaidi and existing investors, including Falcon Edge Capital, Tiger Global, SoftBank Group and DST Global.
  • “We will use these funds to further accelerate growth. We are excited about bringing onboard partners who can help us get there faster. We will continue to build for the local market through innovative solutions like Ola Share, Ola Prime and Ola Money, as we grow the mobile ecosystem in India,” Ola co-founder and CEO Bhavish Aggarwal told PTI.
  • He said the company has grown by over 30 times in the last one year with over one million booking requests a day.
  • According to sources, Singapore’s sovereign wealth fund GIC also participated in the latest round of funding that values the company at about $5 billion (roughly Rs. 33,058 crores).

India to have 402 mn Internet users by Dec 2015, will surpass US: IAMAI report

  • The number of Internet users in India is expected to reach 402 million by December 2015, registering a growth of 49 per cent over internet-users-759last year, says a report by industry body IAMAI.
  • About 306 million of these will access Internet from their mobile devices, up from 276 million in October this year, according to the report by Internet and Mobile Association of India (IAMAI) and IMRB.
  •  “While Internet in India took more than a decade to move from 10 million to 100 million and 3 years from 100 to 200 million, it took only a year to move from 300 to 400 million users. Clearly, Internet is mainstream in India today,” the report said.
  • This number is expected to further surge to 462 million by June next year as more people come online, especially through their mobile devices.
  • The total Internet userbase stood at over 300 million in December last year, which grew to 375 million by October this year.
  • “Currently, India has the third largest Internet userbase in the world but it is estimated that by December, India will overtake the US (as the second largest base). China currently leads with more than 600 million Internet users,” it said.

Zarin Daruwala appointed CEO of StanChart Bank, Indiazarin-daruwala_625x300_81447758965

  • Standard Chartered Plc has appointed Zarin Daruwala as CEO of Standard Chartered Bank, India, following the appointment of Sunil Kaushal as Regional CEO for Africa and West Asia.
  • A qualified Chartered Accountant and Company Secretary, and one of the top rankers in both ICSI and ICAI courses, Zarin is currently President of the Wholesale Banking Group at ICICI Bank.
  • During her 25 years in the industry, Zarin has led teams in corporate banking, project finance, structured finance, financial institutions, government and public sector banking, as well as building out ICICI’s rural and agri-finance offering.

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