Reserve Bank of India (RBI) Governor Shaktikanta Das has said that the central bank of the country has appointed 5-member committee under the chairmanship of Nandan Nilekani to further deepen digital payments and enhance financial inclusion through Fintech. He said, the RBI has requested the committee to give recommendations in 3 months in this regard. Mr. Das was speaking today at the inaugural event of Financial Technology (Fintech) Conclave being organized by NITI Aayog in New Delhi. 

Mr. Das said, the objective of the conclave is to shape India’s continued ascendancy in FinTech, build the narrative for future strategy and policy efforts, and to deliberate steps for comprehensive financial inclusion. The RBI Governor said as a nation India must move for universal financial inclusion and total retail payment has grown nine folds in last five years. He said a consultation process with payment banks including seven purely digital loan companies will happen soon.

NITI Aayog CEO Amitabh Kant said India's ambition is to emerge as a 10 trillion dollar economy and this is not possible without a revolution in the Fintech sector.

A consortium of two Indian oil companies, Bharat Petroleum Corporation Limited and Indian Oil Corporation Limited have been awarded the exploration rights for Abu Dhabi Onshore Block 1. 

The Abu Dhabi National Oil Company, ADNOC, Monday signed agreements awarding the exploration rights.

The award has been endorsed by Abu Dhabi’s Supreme Petroleum Council. In an exclusive interaction with AIR Ambassador  Navdeep Suri said that the bilateral partnership between India and UAE is growing in many dimensions.

A science teacher from rural Kenya, who gives away most of his salary to support poorer pupils, has won a $1m prize (£760,000) for the world's best teacher.

Peter Tabichi, a member of the Franciscan religious order, won the 2019 Global Teacher Prize.

Brother Peter has been praised for his achievements in a deprived school with crowded classes and few text books.

He wants pupils to see "science is the way to go" for their futures.

The award, announced in a ceremony in Dubai, recognises the "exceptional" teacher's commitment to pupils in a remote part of Kenya's Rift Valley.

He gives away 80% of his pay to support pupils, at the Keriko Mixed Day Secondary School in Pwani Village, Nakuru, who otherwise could not afford uniforms or books.

Health and Family Welfare Ministry have notified the Drugs and Clinical Trials Rules, 2019 with an aim to promote clinical research in the country. The new rules will change the regulatory landscape for the approval of new drugs and conduct of clinical trials in the country.

These rules will apply to all new drugs, investigational new drugs for human use, clinical trial, bioequivalence study and Ethics Committee. It has reduced the time for approving applications to 30 days for drugs manufactured in India and 90 days for those developed outside the country. 

The rules stated that in case of no communication from Drugs Controller General of India, the application will be deemed to have been approved. It said the requirement of a local clinical trial may be waived for approval of a new drug if it is approved and marketed in any of the countries to be specified by the Drugs Controller General with the approval of the government.

The new rules will ensure patient safety, as they would be enlisted for trials with informed consent. The ethics committee will monitor the trials and decide on the amount of compensation in cases of adverse events. 

Jet Airways Founder and Chairman Naresh Goyal and his wife Anita Goyal will step down from the board of the ailing airline, which will also receive an immediate funding of Rs 1,500 crore under a resolution plan piloted by its lenders.

Goyal would also cease to be the Chairman of the full-service carrier, which has been flying for more than 25 years, according to a regulatory filing.

After weeks of speculations and uncertainties over the future course of Jet Airways, which has grounded over 80 planes due to financial woes, the airline's board Monday approved a resolution plan formulated by SBI-led domestic lenders.

Naresh Goyal, his wife Anita Goyal and Etihad Airways PJSC's nominee director Kevin Knight would step down from the board.

Gulf carrier Etihad holds 24 per cent stake in Jet Airways. According to the filing, two nominee directors of the lenders would be inducted.

Further, an immediate funding of up to Rs 1,500 crore would be provided to the cash-strapped airline by "way of issue of appropriate debt instrument", the filing said.

Jet Airways Chairman Naresh Goyal and his wife Anita Goyal are expected to step down from the board of the cash-strapped airline on Monday, March 25, sources told Moneycontrol. Chief Executive Vinay Dube is expected to stay on board the 25-year-old airline Goyal set up with his wife in 1993.

On March 20, Moneycontrol reported that Jet Airways' lenders had worked out an alternate rescue plan for the debt-ridden airline, which involves taking majority control and reconstituting the entire board of the country’s second largest carrier.

With just 11 days left to the end of this financial year, lenders are in a rush to seal a resolution plan. They have asked Goyal to step down immediately and make way for a new management. As per the plan, Goyal's stake will likely be capped at 10 percent by diluting the rest at a nominal value.

There are also talks of new investors including Tata Sons being approached, but a source told Moneycontrol it will take at least a couple of months to bring them in, as regulatory norms require due diligence on the part of the lenders too.

Oman has signed an agreement with the United States that allow American ships and warplanes to take advantage of his ports and airports. The state-run Oman News Agency said the framework agreement is aimed at bolstering Omani-American military relations.

The agreement will allow the US forces to take advantage from the facilities offered at some of the Sultanate's ports and airports during visits of the US military vessels and aircraft, particularly in the port of Duqm, it said.

Duqm port is located in southern Oman on the Arabian Sea and around 500 kilometres from the Strait of Hormuz. At the mouth of the Gulf, the strait is crucial to global energy supplies.

The US-Omani deal was signed by the defence ministries of both countries.

In Indian Premier League, Delhi Capitals beat hosts Mumbai Indians by 37-run in their opener last night.

Chasing the victory target of 214 runs, Mumbai were stopped at 176 in 19.2 overs as injured Jasprit Bumrah failed to turn up with the bat. Veteran Yuvraj Singh top-scored for the hosts with 53 off 35 balls.

Earlier, riding Rishabh Pant's unbeaten 78 off 27 balls, Delhi posted a massive score of 213 for six on board. Pant smashed the fastest fifty against Mumbai in IPL history when he reached landmark off only 18 balls. In 2012, MS Dhoni had scored a fifty off 20 balls against Mumbai.

In another match Kolkata Knight Riders defeated Hyderabad Sun Risers by six wickets. KKR chased down the target of 182 runs with the loss of four wickets in 20 overs. Earlier, Hyderabad Sun Risers made 181 runs for three in 20 overs. Opener batsman David Warner scored thrilling 85 runs.

President Ram Nath Kovind will visit Croatia, Bolivia and Chile from today till the 2nd of next month. Secretary (East) in the External Affairs Ministry Vijay Thakur Singh said, Mr Kovind will meet his Croatian counterpart and Prime Minister of Croatia and discuss the issues of mutual interest. She said, there is a scope for further investment in diverse sectors in Croatia. It will be Mr Kovind's first visit to Croatia. 

The Secretary said, in Bolivia, the President will hold restricted and delegation level talks with his counterpart. He will participate in India-Bolivia business forum meeting and interact with students.  India's bilateral relations with Bolivia are warm and age-old. Trade relations between the two sides have improved. India has also been providing capacity building support to that country.  

On the last leg of his visit, Mr Kovind will reach Chile on 30th. He will hold talks with Chile Counterpart and discuss issues of mutual interest. Improving Trade and Economic relations will be on the agenda. Mr Kovind will also interact with the Indian community. 

India has bagged 368 medals  - 85 Gold, 154 Silver and 129 Bronze at Special Olympic Games in Abu Dhabi.  Our correspondent reports that the eight-day extravaganza finally drew to a close in a spectacular ceremony on Thursday evening. 

Prime Minister Narendra Modi has congratulated the Indian medalists. In a tweet, he said it is a proud day for the county. Mr Modi said, the fortitude and accomplishments of the sportspersons will inspire millions. 

The next Special Olympic Games are set to take place in Sweden in 2021.