CURRENT AND CORPORATE AFFAIRS : 28 AUGUST 2020

Current and corporate affairs as on 28 august 2020

NATIONAL NEWS

NTA to conduct NCHM JEE-2020 on Saturday: – National Testing Agency (NTA) will conduct the National Council for Hotel Management Joint Entrance Examination 2020-NCHM JEE-2020 on Saturday. NCHM JEE-2020 will be conducted by NTA as Computer BasedTest-CBT mode for admission to the B.Sc. Course in Hospitality and Hotel Administration across the country. National Testing Agency has been established as a premier, autonomous and self-sustained testing organization to conduct entrance examinations for admission/fellowship in higher educational institutions. The National Examination Agency is conducting an examination for the first time in the country after its formation.

Govt approved 78 new routes under 4th round of Regional Connectivity Scheme –UDAN: – Government has approved 78 new routes under the 4th round of Regional Connectivity Scheme – Ude Desh Ka Aam Nagrik, UDAN to further enhance the connectivity to remote and regional areas of the country. Civil Aviation Ministry said, North East Region, Hilly States and Islands have been given priority in the approval process for the new routes. It said, 29 served, eight unserved and two under-served airports have been included in the list for approved routes. The Ministry said, overall 766 routes have been sanctioned so far under the UDAN scheme. Joint Secretary in the Ministry of Civil Aviation, Usha Padhee said, the Ministry had launched the 4th round of UDAN in December last year with a special focus on North-Eastern Regions, Hilly States and Islands. She said, the awarding of these 78 routes under UDAN – 4 is in line with the Act East Policy of the Central Government

STATE NEWS

Assam Council of Ministers approves “Assam Skill Development University Bill’: – Assam Council of Ministers has approved the Assam Skill Development University Bill for setting up Skill University at Mangaldoi at the cost of 900 crore rupees. The meeting was held under the Chairmanship of Chief Minister Sarbananda SonowalinGuwahati. The meeting also decided to increase the upper age limit for the State government jobs for group III and Group IV for two years so that unemployed youth can apply for jobs upto 40 years. Insurance to the tune of 50 lakh rupees to journalists, home guards and all casual employees succumbed to Covid-19 infection while performing their duties,wasapproved. The Orunodoi Scheme for giving financial assistance of 830 rupees per month to family under 2 lakh rupees of annual income was also approved in the meeting.

5.3 magnitude earthquake hit eastern parts of Mizoram:- In Mizoram, a moderate earthquake of 5.3 magnitude has hit eastern parts of the state this evening. There is no immediate report of any damage or loss of property. According to the National Centre for Seismology, the tremor of 5.3 magnitude on the Richter scale occurred at Champhai at 5.37 pm. The epicentre of the earthquake was at the 30 Km depth, 35 km southwest of Champhai district.

TN: Grape cultivation & food processing taken up under “One Crop, One District” scheme in Ariyalur district: – Grape cultivation and food processing based on grapes is being taken up as a major initiative under the “One Crop, One District” scheme in Ariyalur district of Tamil Nadu near Trichy. At present more than 25,000 acres of land is being utilised in various panchayats of the district like Andimadham and Jayakondam for grape cultivation and setting up vineyards. The One District One Crop scheme, which is part of the Atmanirbhar initiative of the Central government, will make fund availability and access to business easier.

INTERNATIONAL NEWS

UN Chief to renew call to India, G20 nations to invest in sustainable transition post-COVID: – UN Secretary General Antonio Guterres will renew his call to India and other G20 countries to invest in a clean, sustainable transition as they recover from the COVID-19 pandemic, during his virtual address to The Energy and Resources Institute (TERI). Guterres will deliver the 19th Darbari Seth Memorial lecture on August 28 organised by TERI, a global think-tank focusing on a broad range of sustainable development and climate-related issues, UN spokesperson StephaneDujarrictoldreportersyesterday.

BUSINESS AND FINANCE

Govt asks PSB to monitor cases where insolvency proceedings can initiated against individuals guarantors: – The Finance Ministry has asked public sector banks to monitor cases where insolvency proceedings could be initiated against individuals who are guarantors of corporate debtors that have defaulted on loans. The Insolvency and Bankruptcy Code (IBC) provides for a time-bound and market-linked resolution of stressed assets. The Code also provides for initiation of insolvency proceedings against personal guarantors of corporate debtors, even though the provision has not been used much by lenders to recover dues. In an advisory, the Department of Financial Services has asked Public Sector Banks (PSBs) to consider putting in place a mechanism for monitoring the cases which may require initiation of individual insolvency process before the National Company Law Tribunal (NCLT) against personal guarantors to corporate debtors. Recently, the NCLT’s Mumbai bench allowed State Bank of India (SBI) to initiate insolvency proceedings against Anil Ambani as a personal guarantor to recover Rs. 1,200 crore dues from two companies promoted by him.

Centre places two options before states for borrowing to meet GST compensation gap: – States have been given two borrowing options to meet shortfall of GST compensation. After chairing the 41st GST Council meet, Finance Minister Nirmala Sitaraman said, the two options were placed before states so that each state does not have to struggleforloans. Ms Sitharaman said, this yera’s entire GST compensation gap of two lakh 35 thousand crore rupees can be met by the States, in consultationwithRBI. She said, States have requested for details of both the options, and sought seven working days to deliberate on it and get back. These options will be available only for this year. The Minister said, once the arrangement is agreed upon by GST Council, dues will be cleared fast and also take care of the rest of the financial year.