RBI fines UCO Bank Rs 1 crore for violating current accounts opening norms

RBI has imposed Rs 1 crore penalty on UCO Bank for flouting its instructions relating to opening of current accounts and providing bill discounting facilities to account holders without any borrowing facility with the bank resulting in “siphoning off of funds”.

RBI had carried out an inspection of books of accounts, internal control, compliance system and processes at one of the UCO bank’s branches in May-June of 2015.

On the basis of findings, a show-cause notice was issued to the bank for violation of certain regulations and instructions.

UCO Bank had discounted four Letters of Credit (LCs) at one of its branches and the proceeds were credited to the current accounts of beneficiaries that had not availed any loan facilities from the bank and the amounts were transferred to other group accounts, leading to siphoning off of money.

Before opening current accounts, the bank had not obtained ‘no objection certificates’ (NOCs) from the banks that had sanctioned regular credit facilities to these beneficiaries.

After considering the bank’s reply as also personal submissions, information submitted and documents furnished, RBI came to the conclusion that “these violations were substantiated and warranted imposition of monetary penalty”.

However, RBI added that the action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank and its customers.

Resource: http://www.hindustantimes.com
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Fonterra says forecast payout for current season unchanged

By Rebecca Howard

WELLINGTON, Aug 1 (Reuters) - Global dairy giant Fonterra Co-operative Group Ltd, maintained its forecast for its payout for the current season on Monday amid continuing global uncertainty.

The world's largest dairy exporter said it would pay its New Zealand farmer shareholders NZ$4.25 ($3.06) per kg of milk solids in the 2016-17 season, unchanged from a prior forecast.

"It is another financially challenging season for farmers," said Fonterra Chairman John Wilson.

Wilson said the price reflected the continuing global uncertainty and the high New Zealand dollar exchange rate, which continued to impact the competitiveness of New Zealand dairy exports.

"The recent weakening of the euro, combined with the continued strength of the New Zealand dollar, has meant a price advantage for European export dairy products," he said.

Fonterra also announced a forecast earnings per share range for the 2017 financial year of 50 to 60 New Zealand cents, making the total payout available to farmers in the 2016-17 season NZ$4.75 to NZ$4.85.

The forecast marks the third year of low payouts and remains below an estimated break-even level of around NZ$5.28.

Until recently, dairy was the backbone of New Zealand's economy, representing around 25 percent of exports. But prices have tumbled by more than half since early 2014, hurt by China's economic slowdown and global oversupply.

Weak dairy prices have put significant pressure on New Zealand farmers. More than 85 percent of dairy farmers were already estimated to be running at a loss.

Looking ahead, Wilson said Fonterra expects global milk supply and demand "to come into balance over the course of this season."

Fonterra continues to forecast a 3 percent reduction in New Zealand milk collection for the current season. (Reporting by Rebecca Howard; Editing by Susan Fenton)

Resource: http://www.dailymail.co.uk/
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Pokémon Go update: latest news and features

Pokémon Go quickly became a mammoth mobile gaming success virtually from day one. Niantic's blockbuster game creates a mirror of the real world using augmented reality, assisted with smartphones’ cameras and GPS chips. This allows players to find, catch and train pokémon (or pokémen) in their own neighborhoods. In this article, we list each Pokémon Go update for the Android app to help you track new features and versions.

Pokémon Go update brings 'minor text fixes'

July 20, 2016: This update to Pokémon Go seemed a long time coming, but in reality is very minimal. Released only a couple of days ago, the Play Store release notes for version 0.29.3 contain only, “minor text fixes”. The iPhone got an update via version 1.0.3 in Apple’s App Store. Perhaps the update was rushed out, as Niantic didn’t give any details for what the fixes were and, ironically, the release notes themselves don’t even contain correct grammar.

Apart from not addressing frozen Pokeballs or three-footstep bugs, this update also crashed servers, as was reported on Twitter and other websites. While a small update is better than none, it’s obvious that Pokémon Go is buggy and needs a polish. We’ll update you when it gets one.

Pokémon Go launches, world goes crazy

July 6, 2016: The first stable version available to Android users was 0.29.0. This was only available in the US, Australia and New Zealand on launch day, which was July 6, 2016. Even though it wasn’t available elsewhere from the Play Store, millions of fans across the globe downloaded the Pokémon Go APK from sites like apkmirror.com.

The game was definitely buggy on launch day, but the huge hype surrounding what had been for many people an unknown type of gaming experience meant that little attention was paid to the software’s flaws. But we waited for an update to arrive and, soon enough, one arrived.

Pokémon Go global release

The global rollout of Pokémon Go didn’t happen all at once, and with good reason. With server issues affecting players in multiple countries – Germany on launch day, for example – the release was gradual.

Resource: https://www.androidpit.com
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Pokemon update: Pokemon Go evolving and secret to unlocking Jolteon, Vaporeon and Flareon

EVOLVING POKEMON in in Nintendo and Niantic’s new hit mobile title, Pokemon Go, can appear a bit of a grind until you find out some of the secret tricks to speed things up.

First the basics, every time you catch a Pokemon of a particular species, you’ll receive Candy for that species.

Evolution requires a different amount of Candy for each species. Pokemon that require more Candy to evolve tend to show greater gains in CP.

That’s why Pokemon Go's Magikarp has such an outrageous appetite for Candy, 400 will turn him into a Gyrados, quite the jump in firepower.

Evolved Pokemon generally have higher CP and HP, making them a valuable addition to your collection.

And just to be clear, you’ll still have the same number of Pokémon in your collection after completing an Evolution. The Pokemon you selected has evolved—transforming into an evolved Pokemon—so you haven’t gained or lost in total Pokemon.

Until you have enough Candy, you won't be able to evolve your Pokemon. You can view the amount of Candy needed to evolve your Pokemon in the Pokemon’s summary.

To evolve a Pokemon :

•     In Map View, touch the Main Menu
•     Touch Pokémon
•     From your list of Pokémon, select one Pokémon to evolve.
•     On the Pokémon’s summary, touch the Evolve Button

Catching Pokemon earn three candy and transferring Pokemon to Professor Willow earns you one more, meaning that it is definitely worth catching those low-level Rattas and Pidgeys you always run into.

Candy is also earned when you hatch Pokemon eggs, baby Pokemon usually give out more than three Candies, place the egg you found at the Pokestop in an incubator, and the egg will hatch into a Pokémon as you walk.

By grabbing a big haul of these Pocket Monsters, you can then hand them in and grab a stash of Candies, after which you can evolve your strongest specimens.

One trick some trainers in Urban areas employ is to find a place with a lot of Pokestops that can be accessed almost at once.

Dropping a lure will bring more Pokemon to your location, you can also keep spinning the Pokestops following their cooldown of a couple of minutes to grab fresh Pokeballs and other useful items.

By saving up the Pokemon that can evolve, you can then level up faster - 100 EXP for each evolve - unlocking more items and stronger Pokemon to choose from.

Resource: http://www.express.co.uk/
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NASA Responds to Viral 'UFO' Video

This is What’s Trending Today…

 People on social media have been accusing the American space agency, NASA, of shutting off its live video from the International Space Station. They claim NASA turned off the video stream last week because it showed images of a UFO -- an unidentified flying object.

The video was filmed July 9. A YouTube user named Streepcap1 posted a short part of the International Space Station video. The one-minute 40-second video shows a bright object coming into view. Shortly after the object appears, the video stream experienced technical problems and shut down.

Streetcap1 wrote, “This could well be a meteor or the like. What made it interesting was the camera cut off when the UFO seemed to stop.”

Streetcap1's video has been viewed more than 2.7 million times. It quickly became a trending topic on Twitter and Facebook.

A few days later, NASA answered the questions and theories offered online by people who call themselves “UFO hunters.”

NASA spokesman Daniel Huot told the technology magazine CNET that the station "regularly passes out of range,” which causes to video signal to disappear.

He also said that the video was part of the agency’s High Definition Earth Viewing experiment. The project includes many different cameras. They are on “automatic controls to cycle through the various cameras,” he said.

So, NASA says, there is no person watching or controlling the video. Huot said the bright object was probably the moon, space debris, or just reflections from the station windows.

And that's What's Trending Today.

Resource: http://learningenglish.voanews.com
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One man’s hate for Pokemon Go has gone viral

James Roy’s East Vancouver garden has suddenly become a magnet for people in search of virtual treasure.

“They said ‘Hey Man, can we come in and catch the Pokemon’ and I thought it was an animal, maybe a cat,” said Roy.

The smart-phone wielding visitors weren’t looking for a lost pet but a Pokestop – where people can collect supplies to capture Pokemon.

So his apartment has become a hot spot on the Pokemon Go game that has captured the attention of players worldwide.

After witnessing people peer into his backyard two nights in a row, Roy put up a sign calling Pokemon GO the stupidest thing he’s ever seen.

“I have lived through Hammer pants, Crystal Pepsi…the Macarena, Ten Seasons of CSI:Miami,” reads his sign.

Neighbours posted photos of the sign on various social media sites and has since gone viral.

It has since generated thousands of comments from both Pokemon fans and foes worldwide.

Some accuse Roy of being uptight, while others applaud his initiative.

“I’m not a grumpy old man saying don’t have fun. But we have kale here! Don’t step on the kale!” said Roy.

He admits the approach was tongue in cheek, but hopes players will respect private property.

Roy’s sign was vandalized once. He hopes the Pokemon GO trend will stop before he has to replace it again.

“It’ll be over in a couple of weeks, it’s a fad, just like all these things were.”

The game officially launched in Canada Sunday afternoon.

Resource: http://globalnews.ca
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He Ignored Armed Robber To Keep Serving Kebabs. Video Now Viral.

Wellington:  A New Zealand kebab shop owner who ignored a pistol-wielding, would-be robber and continued to serve his customers has insisted "I'm not a hero" after footage of his actions went viral.

Said Ahmed said he decided to call the bluff of a robber wearing a black hoodie and face mask who burst into the Egyptian Kebab House in Christchurch late in the evening.

In extraordinary CCTV footage released by Canterbury police, the robber shakes a sports bag in Ahmed's face with one hand and points a pistol at him with the other.

Instead of filling the bag with cash, Ahmed continues to pack the souvlaki he was working on and turns his back on the gunman to pick up some plastic cutlery and a napkin.

He then calmly reaches around the robber to hand the meal to a customer, who accepts it and warily backs away.

As Ahmed walks off to the kitchen, the gunman stands at the counter for a few seconds, not knowing what to do, then takes his bag and shuffles off somewhat sheepishly.

Footage of the May 28 incident has been viewed almost 140,000 times, with commentators labelling Ahmed "the chillest chip shop operator ever".

He said the robber demanded money but his first thought was serving his customer and his reaction wrong-footed the gunman.

"He didn't scare me... he was surprised from my reaction," he told Fairfax New Zealand.

"I was sure he would not shoot me. He came to rob me, not to kill me."

Ahmed, who migrated to New Zealand from Egypt 20 years ago, said it was the first incident of its kind in the 15 years he has owned the kebab shop.

"When he had gone my heart was beating hard," he told the New Zealand Herald, saying he "thanks God" for guiding him during the robbery.

The 55-year-old said he now closed his shop earlier and advised his children "be a little brave- life can change in a few seconds".

Police said they were still seeking the gunman.

Resource: http://www.ndtv.com
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