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The Weekly Recap: 7 Major News Stories

Face Verification for Aadhar Identification

The Unique Identification Authority of India, the Aadhar-issuing authority, has decided to enable face recognition as another means of authentication from July 1, 2018, as reported by The Hindu. Problems arising due to mismatch of bio-metrics are being reported about, including those faced by senior citizens with fading fingerprints. Face verification will add an extra layer of security for authentication.

Air India employees to be absorbed in PSUs post FDI

Foreign Direct Investment (FDI) of up to 49% has been allowed in Air India in purview of the disinvestment measures. 49% FDI already exists in private airlines operating in India. The government will seek options for absorbing Air India employees in public sector enterprises, or will offer them voluntary retirement packages.

Calling for ‘Balance of Power’ in Security Council

Antonio Guterres, UN Chief, has called to establish ‘balance of power’ in the UN Security Council to make it more ‘democratic’. Recently Egypt took over the chairmanship of G 77, the group which plays an important role in a multilateral world, and to bring about more justice in international relations.

India signs MoU to return Illegal Immigrants from UK

To facilitate return of illegal Indian immigrants from the UK, within a month of their detection, India has signed an MoU with UK. Both countries also agreed to share criminal records.

Reliance Jio planning its own crypto-currency ‘JioCoin’

A 50-member team working on block-chain technology would be led by Akash Ambani, son of Mukesh Ambani. The technology would be used in smart contracts and in supply chain management.

Less chances of Rate Cut due to Retail Inflation

Retail inflation rose to 5.21 per cent in December, leaving less chances of interest rate cuts in future. Tied to Consumer Price Index (CPI), it crossed over 5% as against 4.88 per cent in November 2017. The RBI recommends an inflation level of 4%, with a deviation of + or -2%.

Kazakhstan overtakes Iraq as biggest over-producer of oil

Kazakhstan overtook Iraq to become the biggest over-producer of oil within the Organization of Petroleum Exporting Countries (OPEC). Kazakhstan has pledged to pump 110,000 barrels against 130,000 barrels a day under a new pact with OPEC and its allies to curb oil output.

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