Latest Updates on SEBI, MCA, RBI, IBC, Labour Law, and More

Newsletter Contents: SEBI Updates, MCA Updates, RBI Updates, IBC Updates, Labour Law Updates, Press Information, IPO & Investment updates, IRDAI Updates, Department of Telecommunications, MSME Updates, Competition Commission of India, Current Affairs -FAQ’s

WEEKLY CORPORATE AFFAIRS FROM 26.03.2024 TO 02.04.2024

SEBI Updates:

[Sl.	Particulars	Link
1	Motilal Oswal Financial Services Limited – Draft Prospectus	Click Here
2	Viniyamika Issue – 18	Click Here
3	Warning Letter issued to Universal Research (Proprietor – Pritam Dabiya) – Unregistered Investment Adviser	Click Here

2. MCA – 21 Updates

Sl.	Particulars	Link
1	1. All eligible companies are requested to file e-form CSR-2 for the financial year 2022-23 on or before due date i.e. 31.03.2024 to avoid penal action by the Ministry of Corporate Affairs. Please ignore, if already filed. 2. All eligible companies are requested to incur prescribed CSR expenditure pursuant to Section 135 of the Companies Act, 2013 read with Companies (CSR Policy) Rules, 2014 on or before closing of the current financial year i.e. 31.03.2024 to avoid penal action by the Ministry of Corporate Affairs. Please ignore, if already complied. Stakeholders please note that CSR-2 PDF to be saved after affixing DSC before uploading on V2 portal	Click Here

3. RBI / Banks Updates

Sl.	Particulars	Link
1	Investments in Alternative Investment Funds (AIFs)	Click Here
2	Currency Chests (CCs) operations on March 31, 2024	Click here
3	Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract	Click here
4	Lending and Deposit Rates of Scheduled Commercial Banks – March 2024	Click here
5	Meeting Schedule of the Monetary Policy Committee for 2024-2025	Click here
6	Sources of Variation in India’s Foreign Exchange Reserves during April-December 2023	Click here

4. IBC / Insolvency Law updates

Sl.	Particulars	Link
1	Approval of Resolution Plan – Modern Syntex (India) Limited {IA (IBC) No. 169 & 203-JPR-2023 in CP No. (IB)- 39(PB)-2018]	Click here
2	Approval of Resolution Plan – Omansh Enterprises Limited [I.A. 6322-ND-2023 in C.P. No. IB- 262-PB-2022]	Click here
3	Approval of Resolution Plan – Hanung Toys and Textiles Limited [I.A. 4441-2023 in C.P. No. IB- 953-PB-2018]	Click here
4	Approval of Resolution Plan – Rentail Stay Private Limited [IA No.644-2023 in CP (IB) No.91-ALD-2022]	Click here
5	Approval of Resolution Plan – Indus Integrated Information Management Limited [IA (IB) No. 1753- (KB)-2023 in CP(IB) No. 406-(KB)-2021]	Click here
6	Approval of Resolution Plan – G K Steel and Allied Industries Ltd. [MA-37-CHE-2021 in CP-(IB)-1006-2018]	Click here

5. Labour law updates

Sl.	Particulars	Link
1	PF: Retiree asked to pay extra Rs 28.29 lakh to avail Rs 35,594 monthly pension	Click here
2	Your UAN: Key to Managing Your Retirement Savings in India	Click here
3	Rejection of final EPF claims sees surge in 5 years, up from 13% to 34%	Click here
4	EPF joint declaration: List of acceptable documents required to make corrections, updations in UAN profile	Click here

6. Key Press information

Sl.	Particulars	Link
1	PIB Launches a Media Facilitation Portal for Information on General Election 2024	Click here
2	Issuance Calendar for Marketable Dated Securities for April-September 2024	Click here
3	Expert Committee on developing GIFT IFSC as ‘Global Finance and Accounting Hub’ submits report to IFSCA	Click here
4	Closing ceremony of the International Year of Millets 2023 took place at the FAO headquarters, Rome, Italy in a hybrid set up	Click here
5	ECI’s C-Vigil app a big hit with voters: over 79,000 violations reported so far through the complaints app since announcement of General Elections; 99 % cases disposed off	Click here

7. IPO & investment Section

Issuer Company	Open Date	Close Date	Listing Date	Issue Price (Rs)	Issue Size (Rs Cr.)	Lot Size	Exchange
Bharti Hexacom Limited IPO	Apr 03, 2024	Apr 05, 2024	Apr 12, 2024	542.00 to 570.00	4275.00	26	BSE, NSE
Aluwind Architectural Limited IPO	Mar 28, 2024	Apr 04, 2024	Apr 09, 2024	45.00	29.70	3,000	NSE SME
Creative Graphics Solutions India Limited IPO	Mar 28, 2024	Apr 04, 2024	Apr 09, 2024	80.00 to 85.00	54.40	1,600	NSE SME
Jay Kailash Namkeen Limited IPO	Mar 28, 2024	Apr 03, 2024	Apr 08, 2024	70.00 to 73.00	11.93	1,600	BSE SME
K2 Infragen Limited IPO	Mar 28, 2024	Apr 03, 2024	Apr 08, 2024	111.00 to 119.00	40.54	1,200	NSE SME
Yash Optics & Lens Limited IPO	Mar 27, 2024	Apr 03, 2024	Apr 08, 2024	75.00 to 81.00	53.15	1,600	NSE SME
Radiowalla Network Limited IPO	Mar 27, 2024	Apr 02, 2024	Apr 05, 2024	76.00	14.25	1,600	NSE SME
TAC Infosec Limited IPO	Mar 27, 2024	Apr 02, 2024	Apr 05, 2024	106.00	29.99	1,200	NSE SME
Trust Fintech Limited IPO	Mar 26, 2024	Mar 28, 2024	Apr 04, 2024	101.00	63.45	1,200	NSE SME
SRM Contractors Limited IPO	Mar 26, 2024	Mar 28, 2024	Apr 03, 2024	210.00	130.20	70	BSE, NSE
Vruddhi Engineering Works Limited IPO	Mar 26, 2024	Mar 28, 2024	Apr 03, 2024	70.00	4.76	2,000	BSE SME
Blue Pebble Limited IPO	Mar 26, 2024	Mar 28, 2024	Apr 03, 2024	168.00	18.14	800	NSE SME
Aspire & Innovative Advertising Limited IPO	Mar 26, 2024	Mar 28, 2024	Apr 03, 2024	54.00	21.97	2,000	NSE SME
GConnect Logitech and Supply Chain Limited IPO	Mar 26, 2024	Mar 28, 2024	Apr 03, 2024	40.00	5.60	3,000	BSE SME
Naman In-Store (India) Limited IPO	Mar 22, 2024	Mar 27, 2024	Apr 02, 2024	89.00	25.35	1,600	NSE SME

(Source: Chittorgarh.com)

8. irdai – insurance updates

Sl.	Particulars	Link
1	IRDAI gives approval to set up insurance e-marketplace	Click here
2	IRDAI asks LIC, other insurers to remain open on Saturday, Sunday	Click here
3	IRDAI asks insurers to keep branches open on March 30, 31	Click here
4	Insurance new rule: e-Insurance in demat like format mandatory for all new policies from April 1, 2024; what is going to change?	Click here
5	IRDAI Lowers Surrender Value For Insurance Policies Given Up Within 3 Years	Click here

9. Department of Telecommunications (dot)

Sl.	Particulars	Link
1	TRAI releases recommendations on ‘Usage of Embedded SIM for Machine-to-Machine Communications’	Click here
2	Centre plans to geotag Telecom infrastructure	Click here
3	DoT ask telecom companies to temporary suspensd USSD-based call forwarding facility from April	Click here
4	Indian telecom industry’s revenue grew by Rs 1 lakh cr in five years: DoT’s Manish Sinha	Click here

10. msme / SME updates

Sl.	Particulars	Link
1	DMK, BJP govts destroyed MSME sector in Coimbatore: Premalatha Vijayakant	Click here
2	Demystifying MSME Registration: A Step-by-Step Guide for Indian Businesses	Click here
3	Rule on timely payment to MSMEs comes into force from Monday	Click here
4	Ahead of April 1 deadline, MSMEs review arrangements with traders, buyers	Click here

11. Competition Commission of India (CCI)

Sl.	Particulars	Link
1	CCI approves 100% acquisition of Lanco Amarkantak Power Limited by Adani Power Limited	Click Here
2	CCI approves subscription to CCPS B of API Holdings by MEMG LLP and 360 ONE	Click Here
3	CCI chief says recently notified regulations applicable to cases under investigation	Click Here
4	Reviewing all competition regulations, says CCI chief	Click Here

12. Cabinet Decisions / New Acts

Sl.	Particulars	Link
1	DA hike, India AI Mission and a Women’s Day gift: 6 Union Cabinet decisions announced today \| Mint	Click here
2	All you need to know about the decisions taken by the Cabinet today	Click here

13. Current Affairs Quiz (taken from various sources)

Sl.	Questions	Answers
1	Recently, where was the world’s first Om-shaped temple inaugurated?	Rajasthan
2	Tantalum, a rare metal, was recently discovered in which river?	Sutlej
3	Recently, which organization has launched a new network for coronaviruses, CoViNet?	WHO
4	Mushk Budiji, recently seen in the news, is an indigenous variety of which crop?	Rice
5	Afanasy Nikitin Seamount, recently seen in news, lies in which ocean?	Indian Ocean
6	Recently, which country hosted the G20 second Employment Working Group (EWG) meeting?	Brazil
7	Recently, where was the first Nuclear Energy Summit held?	Brussels
8	Recently, A 900-year-old Kannada inscription from the Kalyana Chalukya dynasty was discovered in which state?	Telangana
9	Recently, who has been appointed as the new Ambassador of India to Myanmar?	Abhay Thakur
10	On World Kabaddi Day 2024, which country created history by creating a Guinness World Record with the participation of 128 players?	India

Disclaimer: This write – up is prepared as a Knowledge Sharing Initiative. *Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. . In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

The author can be approached at cslalitrajput@gmail.com // +918802581290 (W).

Empowering MSMEs: Weekly Updates and Schemes for Business Growth

This Weekly E- Newsletter (The Friday Journal) aims to increase awareness regarding various news / updated and activities that have been taken place for the MSMEs and to provide information about the various schemes and programmes along with latest updations from time to time. It is a digital tool used to share relevant and valuable information with the Readers.

MSMEs are an important sector for the Indian economy and have contributed immensely to the country’s socio-economic development. MSMEs produce and manufacture a variety of products for both domestic as well as international markets. MSMEs have played an essential role in providing employment opportunities. MSMEs have driven India to new heights through requirements of low investment, flexible operations, and the capacity to develop appropriate native technology.

This newsletter has been released with an aim to educate MSMEs on various facets of business development.

MSME in India

The Indian government has undertaken several policies, strategies, and programs to promote resource efficiency and sustainability in the MSME sector at the national level. Diverse initiatives and schemes undertaken by the Government of India, in collaboration with the Bureau of Energy Efficiency (BEE) operating under the Ministry of Power and the Ministry of Micro, Small and Medium Enterprises, play pivotal roles in fostering the adoption of energy-efficient practices, enhancing sustainability, optimising resource utilisation, and minimising waste generation within the MSME sector.

Our newsletter is an attemppt to provide brief about the developments in MSME Sector on weekly basis.

Our Special Corner

Share of women MSMEs jumps to 37% in total MSMEs registered on govt’s Udyam portal

The share of MSMEs owned by women entrepreneurs in the total MSMEs registered with the MSME Ministry has jumped. According to the data shared by the Minister of State in the MSME Ministry Bhanu Pratap Singh Verma in a written reply to the Rajya Sabha on Monday, the number of women-owned MSMEs registered on the government’s Udyam portal stood at 1.17 crore – 37.13 per cent of the total 3.16 crore MSMEs registered as of December 4 since the launch of the portal on July 1, 2020, post-Covid.

In comparison, the share of women-owned MSMEs in the total over 2.10 crore units registered as of August 1, 2023, was 19.43 per cent, Verma had informed the Parliament during this year’s monsoon session. The registration count included registrations from the Udyam Assist Platform (UAP) of the government launched in January this year to enable micro enterprises outside the ambit of Goods and Services Tax registration to register with the ministry for the benefit of priority sector lending.

Importantly, under the Udyog Aadhaar Memorandum (UAM), the erstwhile portal for MSME registration between September 2015 and June 2020, women MSMEs represented a 15.67 per cent share in the total UAM registrations during the period, Verma had shared the data, FE Aspire reported earlier. (Source: Click Here)

MSME Schemes:

The government has introduced many schemes to encourage the micro and small industries. Through many schemes, the Central government is boosting the credit availability for the MSMEs. MSME (Micro, Small and Medium Enterprises) schemes are initiatives launched by the Government of India to support and promote the growth and development of small businesses in the country.

Let us have a brief discussion on “‘Maharashtra govt to support MSMEs with several schemes’: Deputy CM Devendra Fadnavis at IIM Nagpur’s Zero Mile Samvad”

Devendra Fadnavis, the Deputy Chief Minister of Maharashtra, has laid out a bold vision for India’s economic growth, placing Rural Entrepreneurship, Micro, Small and Medium Enterprises (MSMEs), and Cooperative Ventures at the forefront.

Sharing his views during a session at IIM Nagpur’s ‘Zero Mile Samvad’, Fadnavis said that MSMEs play a pivotal role in the growth of the economy. “If you look at our industrial policy, there has been a huge thirst to help MSMEs and even the central government has come up with most of their schemes to help MSMEs. MSMEs are also helping in creating a lot of jobs,” he said.

On big-ticket projects coming in Maharashtra, Fadnavis revealed that “I always tell bureaucrats here to not be complacent. Also when I meet companies for investments, I tell them to look at our track record of delivery and completion and not fall for a new state that is just promising and does not have anything to show in the past.”

“We are focusing on creating a logistics hub in Nagpur and we will continue to focus on the strengths and work towards the betterment of Maharashtra,” he added.

He further discussed the importance of strategic partnerships among the government, private sector, and NGOs to bolster these sectors and his key points included vital policy reforms, such as tax incentives and streamlined regulations, and the transformative role of digital innovations in empowering rural entrepreneurs and MSMEs.

Source: Click Here

For eligibility, application process and other process, please get in touch with us.

Trade Receivables Discounting System (TReDS) – Part 21

Trade Receivables electronic Discounting System (TReDS) is an online electronic platform and an institutional mechanism for factoring of trade receivables of MSME sellers. It enables discounting of invoices through an auction mechanism to ensure prompt realization of trade receivables.

RBI allows all factors to participate as financiers on TReDS platforms

To augment the availability of financiers on TReDS (Trade Receivables Discounting System), the Reserve Bank of India (RBI) on Wednesday, allowed all entities that can undertake factoring business, to participate as financiers on such platforms.

“The Factoring Regulation Act, 2011 (FRA) allows certain other entities / institutions to undertake factoring transactions. Accordingly, all entities / institutions allowed to undertake factoring business under FRA and the rules / regulations made thereunder, are now permitted to participate as financiers in TReDS,” the central bank notified.

TReDS transactions fall under the ambit of ‘factoring business’ and currently only banks, NBFC-Factors and other financial institutions can be financiers.

The RBI also permitted insurance facility for TReDS transactions to aid financiers to hedge default risk. This is because financiers usually place their bids keeping in view the credit rating of buyers, and are not inclined to bid for payables of low rated buyers.

Insurers on TReDS

As a result, insurance players will be now become the fourth participant on TReDS platforms, in addition to MSME sellers, buyers and financiers.

TReDS platform operators will need to specify the stage at which insurance facility can be availed. Further, no insurance premium can be levied on MSME sellers, and collection of premium and related activities will be enabled through National Automated Clearing House (NACH) system.

Factoring units

While TReDS guidelines provide for discounted or financed factoring units to have a secondary market, it has still not been introduced. Given the experience gained so far, TReDS platform operators may, at their discretion, enable a secondary market for transfer of FUs within the same TReDS platform, the central bank said.

TReDS platform operators have also been permitted to settle all factoring units—financed, discounted or otherwise —using the NACH mechanism, with specified timelines for funds settlement. This is to overcome the inconvenience caused to MSMEs and for better reconciliation, as around 17 per cent of factoring units uploaded are not discounted or financed and buyers need to pay MSME sellers outside the system.

Three entities — A.TREDS (Invoicemart), Receivables Exchange of India (RXIL) and Mynd Solutions (M1 exchange) operate the three TReDS platforms in the country; whereas C2FO Factoring Solutions has been given in-principle authorisation.

Source: Click Here

MSME Corporate News:

How research and forecasting can fast forward growth of fashion and textile MSMEs

MSMEs have a significant role to play in India’s textile and apparel trade. It is estimated that this sector employs about 45 million people directly and nearly 60 million people indirectly. This labour-intensive industry is also the second largest provider of employment in India.

Today India ranks third in the export of textile and readymade apparel in the world, contributing up to 4.6 per cent share in the global trade. However, there is a story of growth unfolding in the Indian domestic industry that is very exciting. The Indian textile and apparel market size reached $172.3 billion in 2022. Looking forward, the market is expected to reach $387.3 billion by 2028, exhibiting a growth rate (CAGR) of 14.59 per cent during 2023-2028, as per a report by IMARC Group.

There are many factors contributing to this change. The undisputed increase in disposable income of the middle class with a surge in spending on fashion and accessories has been a game changer. Further, the rise of e-commerce platforms has transformed the retail landscape as they have made it easier for customers to access a wide range of fashion products. The expected rise of 110 million middle-income households will fuel this further. This opportunity is facilitating the entry of MSMEs into this market with varied products.

Consumer buying is stimulated by both subliminal and obvious influences. From the buzz in celeb lifestyle or designer community, social media content being consumed to travel, politics, F&B, home interiors and global initiatives, there are multiple sources of influences on the fashion that we consume. Only predictive analysis of consumer preferences through research can point towards latent and future consumer wants.

MSMEs shouldn’t shy away from collaborations and partnerships with designers, artisans or other industry stakeholders. Further customization and personalization in products will allow the companies to connect with the consumer at a more intimate level and stand out in a competitive market.

A point to note is the increased awareness of consumers towards sustainable and eco-friendly products. The modern consumer now understands that the production process too needs to be sustainable, which is slowly becoming a factor in purchase decisions. While organic cotton has always been popular, recycled fibres are being preferred now along with biodegradable materials and waterless dyeing techniques. And manufacturers should endeavour to deliver in this realm.

(To read more – Click Here)

TN government sets sights on Rs 5L cr investments during GIM 3.0

CHENNAI: The state government has set a target `5 lakh crore during the third edition of Global Investors Meet (GIM) scheduled to be held on January 7 and 8, 2024. This comes as the state is keen on generating high-value jobs and helping its transition into the knowledge economy during the third edition of GIM.

The Industries department alone is planning to woo Rs 3 lakh crore.

Tamil Nadu attracted investments worth Rs 3.004 lakh crore during the second edition of GIM held in 2019 by signing 12,664 memoranda of understanding, which include 12,360 MoUs from Micro, Small and Medium enterprises (MSMEs). During the first edition, the state managed to woo Rs 2.42 lakh crore investment.

The third edition of the investors meet is being held after a gap of four years. Initially, the third edition of the event was scheduled for 2021 but due to the Covid-19 pandemic, it had to be postponed. Sources said apart from the industries department, the state is targeting to woo Rs 75,000 crore in housing and urban development, Rs 1.20 lakh crore in energy sector and Rs 40,000 crore in MSME sector.

The Centre is likely to be operational by January 2024 in line with the GIM, former Industries Minister Thangam Thennarasu had announced in the state assembly earlier this year. Industries Minister TRB Rajaa held deliberations with business leaders in August where the focus was on technology adoption and innovation, industry-academia engagement, and sustainable production.

(To read more – Click Here)

GIM 2024: Tiruppur poised to attract investments worth ₹6,603 crore in MSME sector

Against the target of investments worth ₹6,551 crore in the MSME (Micro, Small and Medium Enterprises) sector set for Tiruppur in the run-up to the Global Investors’ Meet (GIM) 2024 at Chennai during January, the district is poised to attract investments to the extent of ₹6,603 crore.

Agreements were signed with 439 investors in Tiruppur by the Industries Department at a meeting addressed by Ministers M.P. Saminathan (Information and Publicity), N. Kayalvizhi Selvaraj (Adi Dravidar Welfare), District Collector N. Christuraj, Honorary Chairman of Tiruppur Exporters Association A. Sakthivel and several other dignitaries and senior officials.

The investments would pave the way for generation of 20,612 jobs, in conformity with the State government’s vision to transform into a one trillion US dollar economy by 2030, Mr. Saminathan said.

Approvals for the investors through various departments would be fast-tracked, he said. The State government had sanctioned ₹10 crore for Tiruppur under the Town of Export Excellence scheme, the Minister said. (To read more – Click Here)

Govt approved Credit Guarantee to nearly 80 lakh MSMEs

The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) since its inception in 2000 till November 30, 2023, has approved and extended guarantees to 79,53,694 Micro and Small Enterprises amounting to Rs 5,33,587 crore under the scheme.

The highest amount was provided to Maharashtra at Rs 62,807 crore followed by Uttar Pradesh at Rs 52,998 crore, Karnataka at Rs 43,120 crore, Tamil Nadu at 42,270, and Gujarat at Rs 42,162 crore among others.

CGTMSE provides for guarantee for the credit extended by Member Lending Institutions (MLIs) to Micro and Small Enterprises (MSEs), without collateral and third-party guarantee.

Research and development promoted in MSME sector:

The MoS further highlighted that the government has taken several initiatives to promote Research and Development (R&D) activities in MSME Sector. These inter alia include MSME Innovative Scheme of Ministry of MSME, Atal Innovation Mission (AIM) of NITI Aayog, NIDHI-inclusive Technology Business Incubator (NIDHI-iTBI) Programme of Department of Science and Technology (DST), Regulatory Sandbox of Reserve Bank of India (RBI).

The ministry is implementing MSME Innovative (Incubation) Scheme, a component under MSME Champions scheme for nurturing and development of ideas. Under the Incubation component of MSME Innovative Scheme of this Ministry, 533 ideas have been approved for nurturing and development with an amount of Government of India grant sanctioned of Rs 43.30 crore during the last three years 2021-22, 2022-23 and 2023-24.

(To read more – Click Here)

About the Author: Lalit Rajput is a Company Secretary and Commerce Graduate, having 8+ years of post-qualification experience in the Corporate Compliance Management & Advisory Services. He has worked with Listed, Unlisted, Risk Advisory Firms, Corporate Secretarial and Chartered Firms etc. He has a keen interest in the Corporate Governance and Compliance Management. He has authored many articles at various social media platforms and ICAI / ICSI Newsletters & has taken seminars / webinars for professional institutes including ICSI / ICAI/ LPU etc. He has participated in many quiz / competitions and received recognitions at various platforms.

He is also a part of MAHARERA Study Group Experts Panel. The WIRC – ICAI honoured for his contribution in “Quick Referencer to Companies Act, 2013” and MAHARERA Law Manual. He has also written articles in many Corporate Magazines, Taxmann and Books etc. Published article at Corporate Magazine of “Merchants’ Chamber of Commerce and Industry” named “The Legal Eagle”.

He has contributed as Author in many Books and also publishing his own Newsletters on various matters which includes: Weekly Taxation Newsletter, Weekly Corporate Affairs Newsletter, Monthly Corporate Compliance Tracker, Monthly Food Law Newsletter, Monthly RERA Newsletter, Monthly Tech – Torch Newsletter – A light to the Safe Tech Environment and many more. Received many certificates on Quiz and programms organized at various platforms

WEEKLY CORPORATE AFFAIRS

Newsletter Contents: SEBI Updates, MCA Updates, RBI Updates, IBC Updates, Labour Law Updates, Press Information, IPO & Investment updates, IRDAI Updates, Department of Telecommunications, MSME Updates, Competition Commission of India, Current Affairs – FAQ’s

SEBI Updates:

[Sl.	Particulars	Link
1	Consultation paper on Regulatory Framework for Index Provider	Click Here
2	IIFL FMP XXXXD Series 1	Click Here
3	Informal Guidance Letter to Karun Carpets Pvt. Ltd. in relation to Scheme of Amalgamation of promoter company of Greaves Cotton Ltd under SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011	Click Here
4	Introduction of Investor Risk Reduction Access (IRRA) platform in case of disruption of trading services provided by the Trading Member (TM)	Click Here
5	Securities and Exchange Board of India (Employees’ Service) (Third Amendment) Regulations, 2022	Click Here
6	Limited relaxation – dispatch of physical copies of financial statements etc. – Regulation 58 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015	Click Here
7	Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015	Click Here
8	Monitoring and Periodical reporting of the compliance with the requirements pertaining to ‘Security and Covenant Monitoring’ system hosted by Depositories	Click Here
9	Extension of timelines for entering and verification of the details of the existing outstanding non-convertible securities in the ‘Security and Covenant Monitoring’ system hosted by Depositories	Click Here
10	Management and advisory services by AMCs to Foreign Portfolio Investors	Click Here
11	Monthly Dashboard – November 2022	Click Here
12	Consultation Paper on standardised approach to valuation of investment portfolio of Alternative Investment Funds	Click Here
13	Operational Circular for Credit Rating Agencies	Click Here

2. MCA – 21 Updates

Sl.	Particulars	Link
1	Stakeholders please note that PAS-3 form will be available for filing purposes in V2 till 19th January 2023 11:59 PM.	Click Here
2	Ministry of Corporate Affairs directs Shipping Corp to file responses on objections raised against the demerger scheme	Click Here
3	Indian corporate bond issuance may be halted for few weeks in Jan. Here’s why	Click Here
4	Indian Institute of Corporate Affairs launches programme to create Impact Leaders in areas of ESG	Click Here
5	Indian Government Launching Crypto Awareness Campaign	Click Here

3. RBI / Banks Updates

Sl.	Particulars	Link
1	Individual Housing loans – Revised limits under four-tiered regulatory framework	Click here
2	Foreign Investment in India – Rationalisation of reporting in Single Master Form (SMF) on FIRMS Portal	Click here
3	Formation of new districts in the State of Chhattisgarh – Assignment of Lead Bank Responsibility	Click here
4	Central Payments Fraud Information Registry – Migration of Reporting to DAKSH	Click here
5	RBI releases Annual Report of Ombudsman Schemes, 2021-22	Click here
6	RBI releases Name of Applicant under the Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector	Click here
7	Regulatory Sandbox (RS) – Fourth Cohort on Prevention and Mitigation of Financial Frauds – Test Phase	Click here
8	RBI launches Quarterly Order Books, Inventories and Capacity Utilisation Survey: October – December 2022 (Round 60)	Click here
9	Periodic Updation of KYC details of Customers	Click here
10	Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract	Click here

4. IBC / Insolvency Law updates

Sl.	Particulars	Link
1	Liquidation Processes Ending with Order of Dissolution/Closure: As on 31st October, 2022	Click here
2	The Insolvency and Bankruptcy Board of India Research Initiative, 2019 (Updated as on 30th November, 2022)	Click here
3	Insolvency Professional to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2022	Click here
4	Circular – Proforma for reporting liquidator’s decision(s) different from the advice of Stakeholders’ Consultation Committee (SCC) under proviso to sub-regulation (10) of regulation 31A of IBBI (Liquidation Process) Regulations, 2016	Click here
5	Final Panel of IPs prepared in accordance with ‘Insolvency Professionals to act as Interim Resolution Professionals, Liquidators, Resolution Professionals and Bankruptcy Trustees (Recommendation) (Second) Guidelines, 2022’ for the period from January 1, 2023 to June 30, 2023	Click here

5. Labour law updates

Sl.	Particulars	Link
1	Labour Ministry considering shift to living wage from minimum wage, here is what it means	Click here
	EPFO Latest Update: Interest to Be Credited to Subscribers’ Accounts Soon! Know How to Check Balance	Click here
3	Good news for EPFO people! Find out online if 81-81 thousand is coming to your EPF account with EPFO passbook	Click here
4	EPF Pensioners: What is ‘Nirbadh Seva’ that will help members get instant PPO number after retirement – check details!	Click here
5	Retirement planning: How NPS scores over EPF and PPF	Click here

6. Key Press information

Sl.	Particulars	Link
1	ECI initiates delimitation of Assembly & Parliamentary Constituencies in the State of Assam as per Section 8A of the RP Act 1950	Click here
2	Department of Posts launches an ‘Online request Transfer Portal’ for Gramin Dak Sevaks	Click here
3	PM lauds achievement of the target of establishment of 1.5 Lakh Wellness Centres	Click here
4	Use Aadhaar confidently, but observe same usage hygiene like Bank account, and Passport: UIDAI	Click here
5	Centre to roll out new integrated food security scheme starting 1 January 2023	Click here
6	India has the potential to become a world leader in Footwear and leather : Shri Piyush Goyal	Click here
7	UIDAI enables ‘Head of Family’ based online address update in Aadhaar	Click here
8	NTPC starts India’s first green hydrogen blending operation in PNG network	Click here
9	APEDA working in collaboration with state governments, farmers and others to boost honey exports	Click here
10	Launch of Smart cities and Academia Towards Action & Research (SAAR);	Click here

7. IPO & investment Section

Issuer Company	Exchange	Open	Close	Issue Price (Rs)	Issue Size (Rs Cr)
Ducol Organics And Colours Limited IPO	NSE SME	Jan 09, 2023	Jan 11, 2023	78.00	31.51
Eastern Logica Infoway Limited IPO	BSE SME	Jan 05, 2023	Jan 09, 2023	225.00	16.94

(Source: Chittorgarh.com)

Key Updates in Brief {Source- ET, BS etc.}

1. Sebi returns OYO’s draft IPO papers, asks to refile with certain updates

The Securities and Exchange Board of India (SEBI) has asked Oravel Stays Ltd, the parent company of travel-tech firm OYO, to refile the draft IPO papers with certain updates. The capital markets regulator returned the travel-tech firm’s draft red herring prospectus (DRHP) on 30 December last year and has asked the company to refile it with applicable updates/ revisions, as per an update with Sebi’s website today.

This is expected to delay OYO’s initial public offering (IPO). OYO was targetting an early 2023 offering if market and economic conditions allow. The Gurugram-based hospitality unicorn filed preliminary documents with Sebi in September 2021 for a ₹8,430 crore IPO.

Earlier, the firm had filed an addendum to its DRHP, which included its financials for the first half of FY23. It reported a profit of ₹63 crore for the first half of FY23 as against a loss of ₹280 crore a year ago.

The firm’s revenues in the first half (April-September) of FY23 grew 24% year-on-year to ₹2,905 crore. Apart from improving operating performance, the company has a cash corpus of ₹2,785 crore, the filing to Sebi showed.

To read more: Click Here

2. Why SME IPOs are emerging as top fund-raising platform for promoters

As the world is witnessing a slow turnaround towards the stabilisation of the global economy in the post covid era, the Indian economy has hit a sweet spot with the BSE SME IPO index delivering the highest-ever return in 2022. Several fund-raising options are emerging in India, and the local companies gearing up to raise funds from alternative sources to meet its financial requirements.

For a developing country such as India, Small and medium enterprises (SMEs) are the wheels that turn the economy, and SMEs contribute to one-third of India’s GDP. The SMEs have played an essential role in India’s socio-economic development and in globally developed countries such as Germany. In fact, SMEs generate 54.4% of overall value added in Germany and 63.7% of overall employment in the German non-financial business economy.

Reflecting, Indian growth story unwinds itself, the BSE SME IPO index achieving rockstar status in 2022. On the other hand, the capital market is almost stuck at the same level where it started its journey at the beginning of 2022 with the Sensex at 57,897 and closing at almost 60,910 with an annual return of 6% by the year’s end.

Almost the whole of 2022 has been quite volatile in generating returns, making it challenging for investors to choose the best option available. In contrast, an index representing India’s growth story emerged as a clear winner in generating returns. The BSE SME IPO index delivered an annual return of nearly 67% in 2022, beating all other major indices. It has a market cap of Rs 63,898 crore and 410 companies listed in this segment.

The BSE IPO index has struggled to deliver a return, while the SME IPO index delivered an astonishing return. It clearly indicates the shift of investors turning to the emerging story of India’s SME growth boom. The domestic and NRIs are finding this segment immensely attractive and putting their bet on this segment. This segment is a must-watch for investors in 2023 as well.

To read more: Click Here

3. Rishabh Instruments files draft papers with Sebi to mobilise funds via IPO

Rishabh Instruments, a global energy efficiency solution company, has filed preliminary papers with markets regulator Sebi to mop-up funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating to up to Rs 75 crore and an offer for sale (OFS) for up to 94.17 lakh equity shares by its promoter group shareholders and an existing investor, according to its draft red herring prospectus (DRHP).

Under the OFS, Asha Narendra Goliya will offload 25 lakh equity shares, Narendra Rishabh Goliya (HUF) will sell 5.17 lakh shares, Rishabh Narendra Goliya will dispose of 4 lakh shares and SACEF Holdings II will sell 60 lakh equity shares in the company. Going by the draft papers, the firm may explore a pre-IPO placement aggregating to Rs 15 crore. If such a placement is undertaken, the size of the fresh issue will be reduced.

The Nashik-based firm focused on electrical automation, metering and measurement, precision engineered products with diverse applications across industries, including power, automotive and other industrial sectors. It is one of the leading companies in terms of manufacturing and supply of low voltage current transformers and analog panel meters.

To read more: Click Here

8. irdai – insurance updates

Sl.	Particulars	Link
1	Guidelines on issuance of File Reference Numbers (FRN) to Cross Border Re-insurers	Click Here
2	Submission of Reinsurance Returns	Click here
3	Irdai to allow insurers to auto renew FRN of cross border reinsurers	Click here
4	Burning cost rates for fire insurance not to be embedded: Irdai	Click here

9. Department of Telecommunications (dot)

Sl.	Particulars	Link
1	TRAI releases recommendations on ‘Spectrum Requirements of National Capital Region Transport Corporation (NCRTC) for Train Control System for RRTS Corridors’	Click here
2	TRAI releases Recommendations on“Renewal of Multi-System Operators (MSOs) Registration”	Click here
3	MeitY releases Draft amendments to the IT (Intermediary Guidelines & Digital Media Ethics Code) Rules, 2021 in relation to online gaming	Click here
4	Telecommunication Engineering Centre(TEC) releases ‘Code of Practice for securing consumer Internet of Things(IoT)’	Click here
5	Telecom service providers against administrative allocation of 6G bands	Click here
6 76	Telecom Diary: SOS for Vodafone Idea	Click here

10. msme / SME updates

Sl.	Particulars	Link
1	The key to eliminating the MSME finance gap in emerging markets	Click here
2	96% MSMEs anticipate robust profits in 2023: Report	Click here
3	ET MSME Talks \| Building resilient MSMEs: Why healthcare is critical for MSME growth	Click here
4	Goa CM encourages MSMEs to reduce tourism dependency for economic development	Click here
5	Budget 2023 \| Most MSMEs doing well but financing still an issue, says FISME secretary general	Click here

11. Competition Commission of India (CCI)

Sl.	Particulars	Link
1	Google to move SC against NCLAT decision on CCI fine	Click here
2	Process for selection of CCI chief to start all over again	Click here
3	Google challenges CCI’s October ruling in Android antitrust case in India’s Supreme Court	Click here

12. Cabinet Decisions / New Acts

Sl.	Particulars	Link
1	Amrit Bharat Station Scheme for Indian Railways	Click here
2	Three essential Constitution (ST) Order Amendment Bills passed in the Parliament during the Winter Session	Click here
3	Parliament Passes 16 Bills during April to November 2022: Year End Review – 2022	Click here
4	Centre issues guidelines for restructuring under Sugar Development Fund Rules 1983	Click here
5	Cabinet approves Memorandum of Understanding between India and Turkmenistan on Cooperation in the field of Disaster Management	Click here
6	Cabinet approves Agreement between India and Spain on Cooperation and Mutual Assistance in Customs Matters	Click here
7	Cabinet approves MoU between India and Nepal for construction of bridge over Mahakali River at Dharchula (India) – Dharchula (Nepal)	Click here
8	Cabinet approves Intra-State Transmission System – Green Energy Corridor Phase-II	Click here

13. Current Affairs Quiz (taken from various sources)

Sl.	Questions	Answers
1	Home Affairs Ministry and which state signed cessation of operations agreement with ZUF armed group?	Manipur
2	Mangdechhu Hydroelectric Power Project, which was see in the news, was handed over by India to which country?	Bhutan
3	The ‘National Mobile Monitoring System (NMMS)’ is an initiative of which Union Ministry?	Ministry of Rural Development
4	Which institution has been named as ‘G20 Science working group’s secretariat’?	IISc Bengaluru
5	Which Union Ministry has been approved as the nodal ministry for matters relating to online gaming?	Ministry of Electronics & IT
6	What is the name of the digital project funded by Google to map the language diversity of India?	Project Vaani
7	‘Daksh’ is the payments fraud reporting module maintained by which institution?	RBI
8	Which institution has urged stock exchanges to set up Investor Risk Reduction Access (IRRA) platform?	SEBI
9	Which Department under the ‘Ministry of Finance’ notifies changes in rates on small savings schemes?	Department of Economic Affairs
10	New Jalpaiguri, which was in the news related to Vande Bharat Express, is located in which state?	West Bengal

Top 7 Current Affairs:

Ministry of Rural Development’s Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) has launched the Prajjwala Challenge. Under the challenge, ideas are invited from individuals, Enterprises, Start ups, Private Sector, Civil Society and others to transform the rural economy.
The government has achieved the target of starting 1.5 lakh Ayushman Bharat Health and Wellness Centres across the country, as per the Union Health Minister Mansukh Mandaviya. Under Ayushman Bharat, the government had set a target of transforming existing 1.5 lakh Sub-Health Centres (SHCs) and rural and urban Primary Health Centres (PHCs) across the country as AB-HWCs by December 2022.
The ‘Dhanu Yatra’ festival, considered to be the world’s largest open-air theatre, began in the Western Odisha town of Bargarh. The ‘Dhanu Yatra’ came into existence in Bargarh in 1947-48 as part of the celebration of the country’s Independence. It is celebrated annually and episodes related to Hindu God Krishna is presented through folk art forms.
The Reserve Bank of India’s Medium-term Strategy Framework for the period 2023-2025 named ‘Utkarsh 2.0’ was launched by RBI Governor Shaktikanta Das. The first strategy framework (Utkarsh 2022) covering the period 2019-2022 was launched in July 2019. Utkarsh 2.0 retains the six Vision statements as well as Core Purpose, Values, and Mission statement of the 2022 version.
Bharat Interface for Money (BHIM) was launched on 30 December 2016 in India. The payment application was indigenously developed by National Payment Corporation of India (NPCI). The app lets users make simple and quick transactions using Unified Payments Interface (UPI). In November 2022, National Payments Corporation of India (NPCI) announced the launch of BHIM App open source license model. Recently, the sixth anniversary of BHIM app was celebrated.
India signed a ‘Comprehensive Migration and Mobility Partnership Agreement’ (MMPA) with Austria for migration and mobility of Indian students and professionals. External Affairs Minister S Jai Shankar is the first visit of an Indian foreign minister to Austria in 27 years. India had earlier signed mobility agreements with the UK, France, Germany and Finland.
The Cabinet Committee on Economic Affairs approved the proposal of the Ministry of Information and Broadcasting regarding the Central Sector Scheme ‘Broadcasting Infrastructure and Network Development’ (BIND). The BIND scheme aims to bring modernisation to the public broadcaster Prasar Bharati i.e. All India Radio (AIR) and Doordarshan (DD). The outlay of the scheme is Rs.2,540 crore for the time period up to 2025-26.

The End

38th Weekly Taxation Newsletter

Weekly Taxation Newsletter from 29.06.2021 to 05.07.2021

We thought it would help to give you a sense of what’s available to you by subscribing to this 38th WEEKLY CORPORATE AFFAIRS Newsletter-

· SEBI Updates

· MCA Updates

· RBI Updates

· IBC Law Updates

· Labour Law Updates

· PRESS Information

· IPO & Investment Section

· IRDAI (Insurance Sector) Updates

· Department of Telecommunication

· MSME Updates

· Competition Commission of India

· Cabinet Decisions / New Laws

· Current Affairs

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Our Editorial Experts

CS LALIT RAJPUT, CA HEER GAJJAR

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ATM Cash Withdrawal Rules Changed: RBI

Reserve Bank of India (RBI) has changed some rules regarding cash withdrawal from automated teller machine (ATM). These ATM cash withdrawal rule changes include higher charges on transactions beyond the free permissible limit, a new free ATM transaction limit and a rise in interchange fee.

The new ATM charges as defined by RBI are as under:

Free cash withdrawal limit from own bank: Bank customers can now do five free financial and nonfinancial transactions every month from their own bank ATMs.
Free ATM transaction limit from other banks: ATM cardholders can do three free financial and nonfinancial transactions in metro centres while five in the non-metro transaction from other bank ATMs
Charges on ATM cash withdrawal beyond the free limit: RBI allowed banks to increase charges on ATM transactions beyond the free ATM transaction limit.
Rise in interchange fee: Interchange fee per transaction changed from Rs 15 to Rs 17 for financial transactions while from Rs 5 to Rs 6 for non-financial transactions in effect from August 1, 2021.
New charges on ATM withdrawal beyond the free transaction limit: Bank customer will have to pay Rs 21 (currently it is Rs 20) for each ATM cash withdrawal beyond the free transaction limit in effect from January 1, 2022.

RBI said these charges have been allowed to increase due to the increasing cost of ATM deployment and expenses towards the maintenance of ATM incurred by banks or white label ATM operators.

Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

Supreme Court’s E-Committee releases “e-Courts Services Mobile app”

Supreme Court’s E-Committee releases “e-Courts Services Mobile app”

The manual has been made available in English, Hindi, Assamese, Bengali, Gujarathi, Kannada, Khasi, Malayalam, Marathi, Nepali, and Odia, Punjabi, Tamil and Telugu.

The E-committee of the Supreme Court of India has released a manual for its free e-courts mobile services application in fourteen languages as stated above in a move aimed at digitizing the judiciary, for better reach among the litigants and lawyers, Law firms, Police, Government Agencies and other Institutional Litigants. The mobile application has so far crossed 57 lakh downloads from the official website of e-Committee, Supreme Court of India.

The e-Courts services mobile app Manual in English was translated into regional languages by the in-house Human resource team of the e-Committee, comprising Master Trainers (Judicial Officers and staff) from various High Courts, in coordination with the Central Project Coordinators of the respective High Courts.

Top 7 Key Highlights of the Application:

One can get the complete case history of the case from the filing until disposal, including the date wise case diary.
One can access Orders/ Judgment, Transfer details of the case, interim application status from the mobile app.
Through the e-Courts services mobile app- one can get the case status/ case details of both High Courts and District Courts.
All the e-Courts services are also interlinked with the e-Courts mobile app.
The e-Courts Mobile app is also available in Indian regional languages.
All the e-Courts services are also interlinked with the e-Courts mobile app.
The e-Courts Services mobile App is the personalized digital case diary for litigants/ common citizen/advocates/organization/government department with all the case details available in their hands(set) 24 *7 free of cost.

To Download the Application:

Click Here: https://ecommitteesci.gov.in/service/ecourts-services-mobile-application/

Disclaimer: Every effort has been made to avoid errors or omissions in this material. In spite of this, errors may creep in. Any mistake, error or discrepancy noted may be brought to our notice which shall be taken care of in the next edition. In no event the author shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information. In no event the authors shall be liable for any direct, indirect, special or incidental damage resulting from or arising out of or in connection with the use of this information.

Delhi Lockdown extended till 31st May, 2021 : Delhi Govt.

Delhi Lockdown extended till 31^st May, 2021 : Delhi Govt.

Delhi Chief Minister, Mr. Kejriwal, via press conference in media extended the lockdown in Delhi, National Capital, for one more week, till 31^st May, 2021 (5:00 AM).

During Press Conference, Delhi CM stated that:

The number of Covid cases fell below 2,500 for the first time on Saturday since the current wave has hit Delhi and overwhelmed the medical infrastructure.
On Saturday, Delhi reported 2,260 fresh Covid cases with a positivity rate of 3.5%, as compared to 26,169 cases on April 22 with a positivity rate of 36.24%.
The situation against coronavirus is getting better with the efforts of Delhiites, we have to remain disciplined in this way.

Indication for Unlock in the city in phased manner, if situation is good: Delhi CM further stated that, If Covid-19 cases continue to decrease, we will begin to unlock Delhi in a phased manner from May 31.

CURRENT AND CORPORATE AFFAIRS : 30 NOVEMBER 2020

NATIONAL NEWS

One lakh crore rupees Agriculture Infrastructure Fund launched by Government:

The Central Government has launched one lakh crore rupees Agriculture Infrastructure Fund (AIF).The Agriculture Infrastructure Fund is a medium – long term debt financing facility for investment in viable projects for post-harvest management infrastructure and community farming assets through interest subvention and credit guarantee. The duration of the scheme is from Financial Year 2020 to 2029. Under it, farmers can avail benefits from better production and marketing facilities created by this fund. Under the initiative, a credit guarantee for loans up to two crore rupees is provided by the government. The government also provides three per cent rebate in interest on loans upto two crore rupees for a maximum period of 7 years. Moratorium for loan repayment under this financing facility will be from 6 to 24 months. Under the Fund, agri-entrepreneurs, start-ups, and farmer groups will have access to credit for construction of warehouses, sorting grading unit and packhouses, creation of supply chain and cold chain facilities. Besides, the fund will also help setting up of Primary Agriculture processing centres and strenghtening vision from seed to market.

Six-lane widening project of the Handia (Prayagraj) – Rajatalab (Varanasi) section of NH 19 dedicated to Nation by PM Modi:

Prime Minister Modi, after dedicating to the nation the six-lane widening project of the Handia (Prayagraj) – Rajatalab (Varanasi) section of National Highway-19 in Varanasi this afternoon. The 73 Km stretch of the newly widened and six laned NH-19, made with a total outlay of 2447 crore rupees, will reduce the travel time between Prayagraj and Varanasi by one hour.

STATE NEWS

Nagaland: State will celebrate its 58th Statehood Day today:

Nagaland became the 16th State of the Union of India on 1st December 1,963. It will celebrate its 58th Statehood day on 1st December. The formal inauguration of the state was done by the then President of India Dr. S. Radhakrishnan.

Manipur: Sero Survey started in the state:

Manipur’s State Health Department started Sero-Survey in four districts to analyze the impact of COVID-19 local spread in the State. The step has been taken up considering the sudden rising of active and fatality rate in the past few days. The state Health Department will be collecting 4600 samples during the Sero-Survey to be continued till 19th December. Twelve medical teams consisting five members in each team will visit the identified village to test the samples.

Andaman and Nicobar Island: One Nation One Ration Card scheme commenced in Andaman and Nicobar Islands from 30 November:

The One Nation One Ration Card scheme commenced in Andaman and Nicobar Islands on Monday,30 November. The Aadhar Enabled Biometric e-POS machines have been installed at nearly 50 shops in the islands.Till now 28 states and UTs have joined the network under One Nation One Ration Card. Rest are required to join by March, 2021.

Rajasthan: BJP MLA Kiran Maheshwari passes away due to COVID- 19:

Senior BJP leader and MLA Kiran Maheshwari passed away. She was 59 and tested positive for coronavirus. She was , a three-time MLA from Rajsamand, was undergoing treatment at Medanta hospital for the past few days. She had served, previously, as a member of parliament in the 14th Lok Sabha where she represented the Udaipur Constituency.

Rajasthan: schools, colleges, cinema, entertainment parks in state will remain close till Dec 31:

Rajasthan government has said that schools, colleges, cinema, entertainment parks etc will remain closed in the state till December 31. The move comes after sharp rise in COVID-19 cases in the state. The maximum number of 555 fresh cases were detected in Jaipur, followed by 395 cases in Jodhpur.

INTERNATIONAL NEWS

Bangladesh Government announced 30 million doses of COVID 19 vaccine free:

The government of Bangladesh has announced that it will provide 3 crore doses of COVID 19 vaccine to people free of charge. Cabinet Secretary Khandker Anwarul Islam said that the government has already given the consent to procure 3 crore doses of the Oxford-AstraZeneca COVID 19 vaccine from the Serum Institute of India (SII) for which Taka 735.77 crore has been allocated. He further said that the government will follow the protocol set by the World Health Organisation (WHO) to select the people to be vaccinated. He said that frontline workers like health service providers and police personnel will be given priority in vaccination.

All-women White House communications team announced by US President elect Joe Biden:

US President-elect Joe Biden has appointed an all-women White House communications team. He has chosen Jen Psaki as his White House press secretary. Psaki currently oversees the confirmation team for the Biden-Harris Transition. During the Obama-Biden administration, Psaki held several senior roles, including White House Communications Director and State Department Spokesperson under then-Secretary of State John Kerry. Mr Biden’s communications team will be led by Kate Bedingfield, who will serve as the White House Communications Director. Bedingfield has served as Deputy Campaign Manager and Communications Director for the Biden-Harris Campaign.

CURRENT AFFAIRS 26 NOVEMBER 2020

COVID – 19 NEWS

Ministry of Home Affairs issues Guidelines for COVID-19 Surveillance, Containment and Caution: The Home Ministry has issued an Order with Guidelines for Surveillance, Containment and Caution, which will be effective from 1st December and remain in force upto 31st December.
According to the guidelines, States and UTs must ensure careful demarcation of Containment Zones by the district authorities, at the micro level, taking into consideration the guidelines prescribed by Health Ministry in this regard. The list of Containment Zones will be notified on the websites by the respective District Collectors and by the States and UTs. This list will also be shared with the Health Ministry. There shall be intensive house-to-house surveillance by surveillance teams formed for the purpose. Testing shall be carried out as per prescribed protocol. Listing of contacts shall be carried out in respect of all persons found positive, along with their tracking, identification, quarantine and follow up of contacts for 14 days. Quick isolation of COVID-19 patients shall be ensured in treatment facilities and home subject to fulfilling the home isolation guidelines. Clinical interventions, as prescribed, shall be administered. Awareness shall be created in communities on COVID-19 appropriate behaviour. States and UTs, based on their assessment of the situation, may impose local restrictions, with a view to contain the spread of COVID-19 such as night curfew. However, state and UT governments shall not impose any local lockdown outside the containment zones, without prior consultation with the Central Government. There shall be no restriction on inter-State and intraState movement of persons and goods including those for cross land-border trade under Treaties with neighbouring countries. No separate permission, approval or e-permit will be required for such movements.

Foreign Minister and Foreign Secretary of Bangladesh test positive for COVID-19: According to press release issued on Wednesday Bangladesh Foreign Minister Dr. A K Abdul Momen and Foreign Secretary Masud Bin Momen both tested Corona positive when they went for COVID 19 test before leaving for Niger to attend the meeting of the Organization of Islamic
Cooperation (OIC). The visit has been cancelled. The press release said that both of them are in isolation at their homes as per doctor’s advice.

NATIONAL NEWS

Prime Minister chairs PRAGATI meeting: Prime Minister Narendra Modi chaired the PRAGATI meeting . It marked Prime Minister’s thirty-third
interaction through PRAGATI – the ICT based multi-modal platform for Pro-Active Governance and Timely Implementation, involving Central and State governments. In meeting, multiple projects, grievances and programmes were reviewed. The projects taken up were of the Ministry of Railways,
MORTH, DPIIT and Power Ministry. These projects, with a total cost of 1.41 lakh crore rupees, were related to ten states and union territories, including Odisha, Maharashtra, Karnataka, Uttar Pradesh, Jammu & Kashmir, Gujarat, Haryana, Madhya Pradesh, Rajasthan and Dadra and Nagar Haveli. The
Prime Minister asked the concerned Secretaries of the Union Government and Chief Secretaries of the State Governments to ensure that they complete the work before time. During the meeting, grievances related to COVID-19 and to the PM Awas Yojana (Gramin) were taken up. PM SVANidhi, agriculture reforms and development of districts as export hubs were reviewed. The Prime Minister also asked the States to develop a State Export Strategy. He emphasized on the importance of grievance redressal,
and said that focus should not only be on quantity of such redressals, but also on quality. He also remarked that reforms are beneficial only when one performs, and this is the way forward to transform the country.

Calls from landline to mobile to have prefix “0” from Jan 15: Ministry of Communications today said all Landline to Mobile calls will be dialed with prefix ‘0’ from 15th January next year. There will be no change in dialing plan from landline to landline, mobile to landline and mobile to mobile calls. The Department of Telecommunications has taken the decision of
implementing this with the consideration of TRAI Recommendation on “Ensuring Adequate Numbering Resources for Fixed Line and Mobile Services”. Suitable announcement will be made for the same. This
announcement shall be played whenever a subscriber dials a fixed to mobile call without prefixing ‘0’. All fixed line subscribers will be provided with ‘0’ dialing facility. It is expected a total of approximately 2539 million numbering series to be generated from this. This will free up sufficient numbering resources for future use. With the freeing up of sufficient numbering resources, more number of connections can be added in future which will be beneficial to the mobile customers at large.

Union Cabinet approves equity infusion of 6000 crore rupees
in NIIF: Information and Broadcasting Minister, Mr. Prakash Javadekar informed that Union Cabinet has approved equity infusion by Government of 6000 crore rupees in NIIF Debt Platform sponsored by National Investment and Infrastructure Fund, comprising Aseem Infrastructure Finance Limited and NIIF Infrastructure Finance Limited. This was one of the twelve key measures made by the Finance Minister as part of Government’s stimulus to the economy, under AatmaNirbhar Bharat 3.0 on 12th November. NIIF Infrastructure Debt Financing Platform is expected to contribute nearly one lakh crore rupees in debt to the infrastructure sector over the next five years. This will act as a catalyst in attracting more
investments into the infrastructure sector as envisaged in the National Infrastructure Pipeline.

First meeting of National Implementation Committee on India@75 chaired by Home Minister Amit Shah: Home Minister Amit Shah today chaired the first meeting of the National Implementation Committee on India@75. Finance Minister Nirmala Sitharaman and Culture Minister Prahlad Singh Patel also attended the meeting.

Union Minister Smrithi Zubin Irani addresses media conference in Hyderabad: Union Minister Smrithi Zubin Irani while addressing media conference in Hyderabad on Wednesday alleged that the corrupt collaboration between the ruling TRS and MIM is harming the interests of citizens and appealed to people of Hyderabad to refuse the illegal alliance during the Corporation elections.

First ever export-bound new modified goods rake from Hosur Railway station, Bengaluru to Bangladesh: Bengaluru Divisional Railway Manager Ashok Kumar Verma flagged off the first ever export-bound new modified goods rake from Hosur Railway station to Bangladesh. The rake consisting of 25 wagons loaded with 100 Light Commercial Vehicles left Hosur
station yesterday for its destination of Benapole Railway Station in Bangladesh, about 2121 kms away. This is the first modified goods rake dispatched by the South Western Railways to Bangladesh. During the current financial year, the South Western Railways division had loaded 128 modified goods, including two export bound rakes to Nautanwa in Nepal. The Bengaluru Division mainly transported raw materials and essential
commodities and it took up transporting automobiles for the first time in April this year. Thereafter it has transported automobiles regularly within the country.

All India Presiding Officers’ Conference inaugurated in Gujarat by President Ram Nath Kovind: 80th All India presiding officer’s conference inaugurated at Kevadia in Gujarat. The theme of this year’s conference is Harmonious Coordination of Legislative, Executive and Judiciary – Key
to a Vibrant Democracy. This conference was held at the statue of unity- the world’s tallest statue of Sardar Vallabhbhai Patel. Addressing the conference, President Ram Nath Kovind has said that the biggest challenge before the public representatives and democratic institutions is to meet the expectations of the public. He said it is expected from the public representatives that they always remain honest towards the principals of democracy. Vice President M. Venkaiah Naidu in his address said that harmonious coordination between Legislature, Executive and Judiciary is a Key to a Vibrant Democracy. Lok Sabha Speaker and chairman of
this conference Om Birla called upon all participating presiding officers to think about the constitutional responsibility on the constitution day. He also appealed the presiding officers to take oath for fulfilling the targets set by our great leaders.

STATE NEWS

Puducherry: ‘Sporadic rains and heavy wind lash Puducherry: Due to Cyclone “NIVAR” sporadic rains with heavy wind lashed Puducherry since
Wednesday Morning. According to official sources, relief and rehabilitation camps were arranged and people from vulnerable areas shifted, rescue teams including NDRF personnel and trained Fire service and IRBN police personnel were kept ready and round the clock functioning control rooms set up. Puducherry Lieutenant Governor Dr Kiran Bedi appealed to the people of Puducherry to stay indoors and safe. Police security was arranged on the beach road to prevent any one coming to the beach as the sea remained extremely rough with waves to a height of 15 feet. Cyclone warning signal 10 was hoisted at the Puducherry port.

Kerala and West Bengal choose Option-1 to meet revenue shortfall due to GST implementation: With Kerala and West Bengal have communicated their acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation the number of states who have chosen this option has gone up to 25. All the 3 Union Territories with Legislative Assembly – Delhi, Jammu and Kashmir and Puducherry – have also decided in favour of Option-1. Under the terms of Option-1, besides getting the facility of a special window for borrowings to meet the shortfall
arising out of GST implementation, the States are also entitled to get unconditional permission to borrow the final installment of 0.50 percent of Gross State Domestic Product out of the 2 percent additional borrowings permitted by the Government under Atmnirbhar Abhiyaan on 17th
May. This is over and above the Special Window of 1.1 lakh crore rupees. The States and Union Territories who choose Option-1 are getting the amount of shortfall arising out of GST implementation through a special borrowing window put in place by the Centre. The window has
been operationalised since 23rd October and the Union Government has already borrowed an amount of 24,000 crore rupees on behalf of the States in four installments. Centre passed it on to the States and Union Territories, who chose Option -1 on 23rd October, 2nd November, 9th
November and 23rd November. Now Kerala and West Bengal will also receive funds raised through this window starting from the next round of borrowings.

Uttar Pradesh: Essential Services Maintenance Act (ESMA) imposed in state for six months: Uttar Pradesh government has imposed Essential Services Maintenance Act (ESMA) in the state for 6 months. As per the U.P ESMA, the state government now has the power to prohibit strikes in workplaces for the next six months, after which it may be extended
for another six months. Last time the act was imposed in the state on 22nd May this year and the time period of six months has expired.

BUSINESS AND FINANCE NEWS

Cabinet approves Scheme of Amalgamation of Lakshmi Vilas Bank (LVB) with DBS Bank India Limited: Cabinet has approved Scheme of Amalgamation of Lakshmi Vilas Bank (LVB) with DBS Bank India
Limited. With this, there will be no further restrictions on the depositors regarding withdrawal of their deposits. Information and Broadcasting Minister, Mr. Prakash Javadekr said, speedy amalgamation and
resolution of the stress in LVB is in line with Government’s commitment to a clean banking system while protecting the interests of depositors and the public as well as the financial system. Customers, including depositors of the Lakshmi Vilas Bank Ltd will be able to operate their accounts as customers of DBS Bank India Limited with effect from 27th of this month. The moratorium on Lakshmi Vilas Bank Ltd will cease to be operative from that date.

SPORTS NEWS

Greg Barclay elected as new chairman of International Cricket Council:

New Zealand’s Greg Barclay has been elected as the new independent chairman of the International Cricket Council (ICC). The head of the New Zealand Cricket team, NZC, Barclay beat Imran Khwaja in the second round of voting. Imran was interim chairman after Shashank Manohar stepped down from the post in July this year.

OBITUARY

Ahmed Patel, Senior Congress Leader passes away: Senior Congress leader Ahmed Patel passed away. He was 71. The veteran politician had been at a private hospital since his health worsened after a Covid infection. President Ram Nath Kovind, Vice President M Venkaiah Naidu and Prime Minister Narendra Modi have expressed grief over the demise of the veteran Congress Leader Ahmed Patel.

Current and Corporate Affairs as on 23 October 2020

Current and Corporate Affairs as on 23 October 2020

COVID-19 NEWS

Brazil’s President Bolsonaro rejects purchase of coronavirus vaccine from China:

Brazil’s President Jair Bolsonaro has decided on Wednesday to cancel the purchase of Coronavac, a COVID-19 vaccine in phase-3 clinical trials by Chinese firm Sinovac. A day before, on Tuesday, Health Minister Eduardo Pazuello had confirmed that Brazil would buy the vaccine developed by Sinovac to include it in the immunization program, in addition to one developed by the UK-based AstraZeneca and Oxford University. Bolsonaro said on social media, For sure, we will not buy the Chinese vaccine, because
it is unjustifiable to pay billions for a vaccine that has not been through its testing phase. He also said, that it would be a betrayal to buy Chinese vaccine. Brazil has been among the world’s hardest-hit nations by the pandemic, with more than 5 million infections and more than 150,000 COVID-19 deaths.

EU Council Chief announces informal video conference over COVID-19:

European Council President Charles Michel on Wednesday announced an informal video conference on the fight against the coronavirus pandemic scheduled for October 29 amid a deteriorating epidemiological situation in a number of countries, calling for stepping up joint efforts. Michel in a Twitter wrote that inviting leaders for an informal video conference on October 29, 2020, on COVID-19. We need to strengthen our collective effort to fight COVID-19. Europe has been among the regions experiencing a sharp
resurgence of new infections since early September, setting new single-day record highs.

India continues to report one of the lowest cases per million population: Health Ministry:

Health Ministry today said that on the global scale, India continues to report one of the lowest cases per million population. In a tweet this morning, the Ministry said, with consistently falling case fatality rate which is presently 1.51 per cent, it also has one of the lowest COVID-19 mortality. It said, given the size of India’s population, these are testimony of the positive results of test, track, trace, treat, strategy being implemented effectively by the States and Union Territories.

ICMR validates efficacy of COVIRAP for detection of COVID-19:

The Indian Council of Medical Research (ICMR) has validated the efficacy of COVIRAP for the detection of COVID-19. The diagnostic technology has been developed by researchers at Indian Institute of Technology, Kharagpur.This COVID-19 diagnostic testing method has been designed to be fairly easy to conduct and affordable as well and can produce results within one hour. The new testing method implements a highly reliable and accurate molecular diagnostic procedure that can be conducted in an ultra – low-cost portable device unit developed by the IIT, Kharagpur research team. The test results are rendered via a custom-made mobile application for dissemination without requiring manual interpretation. The novel diagnostic platform, developed by IIT, Kharagpur researchers has been subjected to rigorous testing protocols as per ICMR guidelines, at ICMR-NICED, an Institute authorized by ICMR. Various commercial units have already approached IIT, Kharagpur for technology licensing to enable a rapid reach of this innovation to the common people.

NATIONAL NEWS

AYUSH Minister inaugurates Regional Raw Drug Repository at AIIA:

AYUSH Minister Shripad Yesso Naik inaugurated the Regional Raw Drug Repository today at All India Institute of Ayurveda in New Delhi through a virtual function. This RRDR is the second in the series of repositories proposed by National Medicinal Plants Board (NMPB). AYUSH Ministry has said that there is an increased demand for the natural healing and herbal products across the globe which has been further pushed by the ongoing COVID-19 pandemic. In order to document the diversity in the genetics and chemistry of medicinal plants, eight RRDR and one NRDR have been proposed by Ministry of AYUSH. Out of them, three Regional Raw Drug
Repositories have already been developed.

New series of CPI for industrial workers released with 2016 as base year:

Labour Minister Santosh Gangwar today released the new series of Consumer Price Index for industrial workers (CPI-IW) with 2016 Base Year in New Delhi. Mr Gangwar said, the CPI-IW is used primarily for measuring Dearness Allowance payable to workers in the organized sector including Public Sector Undertakings, Banks and Insurance companies besides government employees. He said, earlier the base year for the CPI-IW was 2001.

Indigenously built ASW Corvette -‘Kavaratti’ commissioned into Indian Navy by Army Chief:

INS Kavaratti, an Anti-Submarine Warfare stealth corvette was commissioned into the Indian Navy today by Army Chief General Manoj Mukund Naravane at a ceremony held at Naval Dockyard, Visakhapatnam in Andhra Pradesh. The event marked the formal commissioning of the last of the four Anti-Submarine Warfare Corvettes into the Indian Navy. INS Kavaratti is an indigenously designed, Kamorta class Anti Submarine Warfare stealth Corvette built by the Garden Reach Shipbuilders and Engineers Limited. The Army Chief dedicated the ship to the nation. Named after the capital of the Lakshadweep group of islands, INS Kavaratti has been constructed using high-grade DMR 249A steel produced in India and is one of the most potent Anti-Submarine Warships to have been constructed in the country.

Culture & Tourism Minister virtually launches Life in Miniature project:

Culture and Tourism Minister Prahlad Singh Patel virtually launched Life in Miniature project today. The project is a collaboration between the National Museum, New Delhi, Ministry of Culture, and Google Arts and Culture. From today, several hundred miniature paintings from the National Museum can be viewed online on Google Arts and Culture by people around the world. The project uses technologies like machine learning, augmented reality and digitization with high-definition robotic cameras, to showcase these special works of art in a magical new way. Mr Patel commended Google for its leadership in the technology sector and its focus on product innovation, stating that Google’s commitment to driving social empowerment and inclusion is a true asset to India.

Government permits entry of all international travelers except on tourist visa to enter by air or water routes:

The government has decided to permit all OCI and PIO card holders and all other foreign nationals intending to visit India for any purpose, except on a Tourist Visa to enter by air or water routes through authorized airports and seaport immigration check posts. This includes flights operated under Vande Bharat Mission, Air Transport Bubble arrangements or by any non-scheduled commercial flights as allowed by the Ministry of Civil Aviation. All such travelers will, however, have to strictly adhere to the guidelines of the Ministry of Health and Family Welfare regarding quarantine and other COVID-19 matters. Under this graded relaxation, Government of India has also decided to restore with immediate effect all existing visas (except electronic visa, Tourist Visa and Medical Visa). If the validity of such visas has expired, fresh visas of appropriate categories can be obtained from Indian Missions concerned. Foreign nationals intending to visit India for medical treatment can apply for a Medical Visa including for their medical attendants. This decision will enable foreign nationals to come to India for various purposes such as business, conferences, employment, studies, research and medical purposes.

DRDO successfully conducts final trial of Nag anti-tank guided missile in Pokhran range:

India today successfully carried out the final trial of the Defence Research and Development Organization (DRDO)-developed Nag anti-tank guided missile with a warhead. The test was carried out today morning at the Pokhran field firing ranges in Rajasthan. The trial of Nag antitank guided missile comes after the DRDO tested the helicopter launched Stand-off Anti-Tank Missile (SANT) with a range beyond 10 km from Balasore testing range in Odisha on 19th October. The Nag anti-tank missile is ready for induction in the Indian Army. It has completed 10 successful user trial as it finds the target and then hit it. Defence Minister Rajnath Singh has congratulated DRDO and Indian Army for the successful trial of NAG Anti Tank Guided Missile. Secretary, Department of Defence Research and Development and Chairman DRDO, Dr G Satheesh Reddy also appreciated the efforts of DRDO, Indian Army and industry in bringing the missile up to the production phase.

Information & Technology Secretary writes to Twitter CEO; conveys strong disapproval of government over misrepresentation of India’s map:

Information and Technology Secretary, Ajay Sawhney has written to Twitter CEO Jack Dorsey conveying strong disapproval of Government over misrepresentation of India’s map. Mr Sawhney mentioned that such attempts not only bring disrepute to Twitter but also raise questions on its neutrality and fairness. He asked Twitter to respect sensitivities of Indian citizens. Mr Sawhney said any attempt by Twitter to disrespect sovereignty and integrity of India, which is also reflected by the maps, is totally unacceptable and also unlawful. In response to the letter, Twitter spokesperson said that Twitter remains committed to working with the Government of India and respects the sensitivities involved. The spokesperson said that the Twitter has duly acknowledged the letter.

INTERNATIONAL NEWS

Dhaka-Siliguri passenger train planned to start in March 2021: Bangladesh Railway Minister:

Passenger train services from Dhaka to Siliguri are planned to be started from 26 March next year. The Railway Minister of Bangladesh Md. Nurul Islam Sujan said on Wednesday that the Chilahati-Haldibari line is also expected to be inaugurated on the occasion of the Victory Day celebration in December this year. In the beginning freight trains would run on this route. The statement was made after the newly appointed High Commissioner of India Vikram Doraiswami made a courtesy visit to the Railway Minister of Bangladesh in Dhaka on Wednesday. The Minister said that the work on the Bangabandhu railway bridge would start next month. The bridge would improve rail connectivity between the two countries immensely. According to the government press release, construction of a container terminal depot at Sirajganj and construction of a new coach factory at Syedpur was also discussed during the meeting between the Railway Minister and the High Commissioner of India to Bangladesh.

Former US President Obama criticises Trump for his handling of Covid-19 pandemic:

Former President of US Barack Obama criticised President Donald Trump for his handling of the Covid-19 pandemic and also targeted him for his business dealings in China. In his first campaign for Democratic presidential nominee Joe Biden, Obama urged Americans to vote for Biden and Kamala Harris, saying they would bring character and leadership back to government. Obama is scheduled to hold several rallies for the Democratic candidates in the run up to the November 3 election. Meanwhile, Trump and Biden will faceoff in their second and final debate tomorrow in Tennessee.

BUSINESS AND FINANACE NEWS

SEBI Chairman says, recovery being seen in capital markets, across the board:

Securities and Exchange Board of India Chairman Ajay Tyagi has said that recovery is being seen in capital markets, across the board. Virtually addressing the CII Financial Markets Summit, Mr. Tyagi said, not just large-caps and heavyweight stocks but midcap and smallcap stocks have recovered. He said, the regulator’s timely decisions to contain volatility during the pandemic helped the markets, adding that the board will continue to remain vigilant to all eventualities.

Global trade likely to fall by 7 to 9% in 2020: UNCTAD:

The United Nations Conference on Trade and Development has said that the value of global trade is set to fall by seven to nine per cent in 2020 from the previous year. The report added that if the pandemic resurges in coming months that could lead to a deteriorating environment for policy-makers and sudden increase in trade restrictive policies.

Thanks for Reading Current and Corporate Affairs as on 23 October 2020

Current and Corporate Affairs as on 22 October 2020

Current and Corporate Affairs as on 22 October 2020

COVID-19 NEWS

Indian System of Medicine & Homeopathy Shopian so far distributes AYUSH medicines among 35,704 beneficiaries in view of COVID-19 pandemic:

In Jammu and Kashmir, the Department of Indian System of Medicine and Homoeopathy (ISM&H) Shopian has so far distributed AYUSH medicines among 35,704 beneficiaries of the district in view of the outbreak of COVID-19 pandemic. The medicines were distributed for preventive health measures and boosting immunity among the beneficiaries to fight the global pandemic.

NATIONAL NEWS

Cabinet approves adaptation of J&K Panchayati Raj Act; clears productivity & non-productivity linked Bonus for non-gazetted central govt employees:

The Union Cabinet today approved adaptation of the Jammu and Kashmir Panchayati Raj Act, 1989. Information and Broadcasting Minister, Prakash Javadekar said, the move will establish three tiers of grass-root level democracy in Jammu and Kashmir like in other parts of the country. Cabinet also approved productivity linked bonus and non-productivity linked Bonus for the non-gazetted central government employees for 2019-2020. He said, more than 30 lakh employees will benefited by the bonus announcement and total financial implication will be Rs. 3,737 crore. The Cabinet also approved the extension of Market Intervention Scheme, MIS for apple procurement in Jammu and Kashmir for the current season on the same terms and condition as was done during last season. The procurement will be done by National Agricultural Cooperative Marketing Federation Limited, NAFED through State Designated Agency, Directorate of Planning and Marketing, and Jammu and Kashmir Horticulture Processing and Marketing Corporation directly from apple farmers of Jammu and Kashmir.

Cabinet approves MoU between ICAI and CPAs, Papua New Guinea:

The Cabinet today approved Memorandum of Understanding between the Institute of Chartered Accountants of India, ICAI and the Certified Practising Accountants, Papua New Guinea, to work together in capacity building and strengthening the Accounting, Financial and Audit Knowledge base in Papua New Guinea. Cabinet also approved the Mutual Recognition Agreement between the ICAI and the Malaysian Institute of Certified Public Accountants, to enable appropriately qualified Chartered Accountant members of either Institute to join the other Institute by receiving appropriate credit for their existing accountancy qualification. The Cabinet was today apprised of a Memorandum of Understanding, MoU signed between India and Nigeria on cooperation in the exploration and uses of outer space for peaceful purposes. The MoU was signed between Indian Space Research Organisation, ISRO at Bengaluru in June this year and by National Space Research and Development Agency, NASRDA of Nigeria
at Abuja in August this year. MoU will provide impetus to explore newer research activities and application possibilities in the field of remote sensing of the earth, satellite communication, satellite navigation, space science and exploration of outer space.

Prahlad Singh Patel takes part in 77th Anniversary of formation of Azad Hind Government at Red Fort:

Culture and Tourism Minister Prahlad Singh Patel today took part in the commemoration event of 77th Anniversary of the Formation of Azad Hind Government at Red Fort in Delhi. Azad Hind Fauz veterans, 99-year old Naik Lalti Ram and 101- year old Sepoy Parmanand Yadav and family Members of Netaji Subhas Chandra Bose were also present on the occasion.

INTERNATIONAL NEWS

Mike Pompeo to visit Sri Lanka, Maldives as Washington seeks to counter China’s growing influence:

U.S. Secretary of State Mike Pompeo will visit Sri Lanka and the Maldives this month, officials of both Indian Ocean nations said yesterday, as Washington seeks to counter China’s growing influence in the region. Pompeo will hold two-way talks in Colombo on Oct. 28, a spokesman
for Sri Lanka’s foreign ministry said, but gave no details.

US Elections: Donald Trump campaigns in state of Pennsylvania:

US President Donald Trump campaigned in the state of Pennsylvania Yesterday, telling he needed a second term in the White House to ensure a successful recovery from the novel coronavirus pandemic and its economic fallout. At an airport rally in Erie, Trump warned that Democratic rival Joe Biden would decimate the state’s energy and manufacturing jobs. This is an election between the Trump super recovery, which is happening right now, and a Biden depression, Trump told supporters. If you want open schools, an open economy and a safe, healthy, thriving country, vote for me, he said.

BUSINESS AND FINANCE NEWS

MSME Minister Nitin Gadkari launches India’s first-ever high quality Khadi Fabric Footwear:

Minister of Micro, Small and Medium Enterprises- MSME, Nitin Gadkari today launched India’s first-ever high quality Khadi Fabric Footwear, designed by Khadi and Village Industries Commission (KVIC) through Video Conference. These footwear are made of Khadi fabric like Silk, Cotton and Wool. On the occasion, Mr Gadkari also launched the online sale of Khadi footwear through KVIC’s e-portal www.khadiindia.gov.in. Mr Gadkari said, such unique products has high potential of capturing the international market and at the same time, Khadi fabric footwear will create additional employment and higher income for artisans. He said, Khadi footwear is a unique product and they are cost effective. Mr. Gadkari also urged the KVIC to develop alternatives to leather accessories like ladies’ handbags, purses, wallet in handcrafted Khadi fabric that has a huge potential in foreign markets. He said, by developing and marketing such products overseas, Khadi India can capture a market worth Rs. 5000 crore. The footwear have been launched in 15 designs for ladies and 10 designs for men and their prices are in the range of Rs. 1100 to Rs. 3300 per pair.

IMPORTANT DAYS

Police Commemoration Day being observed on 21st October:

The Police Commemoration Day is being observed today. The day is observed on 21st October every year to honor the loyalty and supreme sacrifice of police personnel for the nation. It was on this day in 1959 when CRPF led a saga of valour and sacrifice in the inaccessible, inhospitable terrain of Hot Springs in Ladakh. A patrol party of twenty personnel of CRPF and Intelligence Bureau had gone to search for a missing reconnaissance party when it was ambushed by the Chinese Army. In spite of the sudden attack and disadvantageous tactical position, they fought valiantly against the Chinese army personnel who were in large numbers and heavily armed. In this battle, ten CRPF men were martyred in defense of the country.

Thanks for Reading Current and Corporate Affairs as on 22 October 2020

CURRENT AND CORPORATE NEWS : 21 OCTOBER 2020

COVID- 19 NEWS

Number of COVID-19 cases crosses 40.11 million worldwide: WHO: According to WHO data, the number of infected cases has crossed 40.11 million worldwide. WHO Chief Dr. Tedros Ghebreyesus has said that 184 countries have now joined the COVAX facility. While addressing the media in Geneva yesterday, he said, this facility aims to finance COVID-19 vaccines to be distributed fairly to both rich and poor countries.

PM Modi urges people not to lower guard till there is vaccine for Coronavirus : Prime Minister Narendra Modi today made a fervent appeal to all the citizens to not let their guard down and become complacent, in the country’s ongoing fight against the Covid Pandemic. In his seventh address to the nation in last seven months, the Prime Minister said, in the fight against corona, people of India have come a long way from Janta curfew till today. Mr. Modi said, despite the lockdown having been lifted it does not mean that the Corona Virus is wiped out. Mr Modi said country’s mortality is low and recovery rate is good. He also said effort will be to ensure Covid vaccine reaches all. The Prime Minister also appealed to media to spread awareness.

NATIONAL NEWS

Govt launches development of indigenous software solution for VTS and VTMS: Shipping Minister Mansukh Mandaviya e-launched the development of Indigenous Software solution for Vessel traffic services and Vessels Traffic Monitoring Systems in New Delhi today. In the inaugural address, Mr Mandaviya laid emphasis on the development of indigenous
system as per the requirement of the country instead of relying on high costing foreign made software solutions for Traffic Managements of the Indian Ports.

Defence Minister approves new DRDO Procurement Manual-2020: Defence Minister Rajnath Singh has approved a new DRDO Procurement Manual-2020. Defence Minister’s Office said, in a tweet, that this will encourage more participation of the Indian Industry including start-ups and Micro, Small and Medium Enterprises in Research and Development activity and also to achieve the goal of self-reliance in Defence. The Defence
Minister said, the new DRDO Procurement Manual will facilitate the indigenous Defence Industry by simplifying the processes and ensuring their participation in design and development activities.

Dharmendra Pradhan congratulates DRDO on successful test-firing of stand-off Anti-Tank SANT Missile: Union Minister Dharmendra Pradhan has congratulated Defence Research and Development Organization on successful test-firing of indigenously developed stand-off Anti-Tank SANT
Missile off the coast of Odisha.

Enforcement Directorate questions NC Chief Farooq Abdullah in JKCA scam case: Enforcement Directorate (ED) has questioned National Conference chief Farooq Abdullah in connection with Jammu and Kashmir Cricket Association (JKCA) scam. Ten office-bearers of the JKCA, including Mr Abdullah, are accused of turning the sports body into a lending agency
and operating several bogus accounts between 2005 and 2012 when the scam was unearthed. Mr Abdullah was questioned by at the ED’s Srinagar office yesterday in connection with its probe into the multi-crore scam. The scam came to light in March 2012 when JKCA treasurer Manzoor Wazir filed a police complaint against former general secretary Mohammad
Saleem Khan and former treasurer Ahsan Mirza. Soon, a list with around 50 names linked to the financial scandal was out. Mr Abdullah lost the post of JKCA president later after holding it for more than three decades. ED has attached assets worth 2.6 crore rupees in a money laundering case related to the alleged embezzlement of funds of JKCA.

NITI Aayog to establish Frontier Technologies Cloud Innovation Centre with Amazon Web Services: In order to address societal challenges through digital innovation, NITI Aayog today announced the establishment of a Frontier Technologies Cloud Innovation Centre, CIC with Amazon Web
Services, AWS. It is the first of its kind in India. This CIC is part of the AWS CIC Global Programme which provides an opportunity for government agencies, non-profits and educational institutions, to come together on pressing challenges, apply design thinking, test new ideas, and access the technology expertise of AWS. Mission Director of Atal Innovation Mission, AIM R. Ramanan said, NITI Aayog is delighted to collaborate with AWS in this endeavour. He said, the NITI Aayog Frontier Technologies CIC will be a great enabler to budding innovators and start-ups and help in piloting state-of-the-art, cloud-centric digital innovations by leveraging emerging technologies such as AI, IOT and robotics, blockchain.

INTERNATIONAL NEWS

UAE delegation reaches Israel for first time in history: In an historic first visit by a Gulf Arab nation, a United Arab Emirates delegation reached Israel today. It was accompanied by top US officials to cement the normalisation of ties between the two nations. As part of the US-brokered deal, four agreements were signed relating to investment, scientific cooperation, civil aviation and visa exemptions, during the visit.
Washington has said the deals would foster regional peace and stability.

India participates in 18th meeting of Prosecutors General of SCO: India today participated in 18th meeting of Prosecutors General of SCO via video conference. Representing India, Solicitor General Tushar Mehta said India has zero tolerance to corruption and black money.Today’s meeting of Prosecutors, agreed to strengthen cooperation in preventing and combating corruption, mutual legal assistance and exchange of regulatory legal
acts. India will host the next meeting of Prosecutors General in 2021. SCO Law ministers met last week and SCO Trade Ministers will meet next week. The eight member bloc will meet for this year’s SCO Council of Heads of Govt on 30th Nov which will be hosted by India. The SCO Summit will be held in early November.

Early voting for US Presidential election begins in crucial state of Florida: Early voting for the November 3 US presidential election has begun in the crucial battleground state of Florida, as a record 28 million Americans have already cast ballots with barely two weeks remaining in the campaign. Florida is widely seen as a must-win for President Donald Trump, whose path to victory becomes razor-thin if he loses the southern state. Meanwhile, Joe Biden and Trump would be debating for a final time on Thursday in Nashville, Tennessee.

BUSINESS AND FINANACE NEWS

India, Vietnam Business Forum held virtually: The India Vietnam Business Forum was organised virtually today. Speaking on the occasion, Secretary (East), External Affairs Ministry, Riva Ganguly Das reaffirmed the
growing bilateral trade and investment ties between India and Vietnam. She said, trade between India and Vietnam has grown steadily and presently stands at 12.34 billion dollars in 2019-20. Export basket from India to Vietnam includes bovine meat, fishery products, corn, steel, pharmaceuticals, cotton, machinery while imports from Vietnam include mobile phones, electrical machinery and equipment, computers, electronic
hardware, natural rubber, chemicals, and coffee. The Secretary said, the bilateral trade turnover is still not commensurate with the levels of economic development and more needs to be done to broaden and intensify the trade relations to achieve its full potential.

IMPORTANT DAYS

World Statistics Day celebrated across globe on 20th October: The World Statistics Day is being celebrated around the globe today, with the theme “Connecting the world with data we can trust”. This theme reflects on the importance of trust, authoritative data, innovation and the public good in national statistical systems. On the occasion, UN Chief Antonio Guterres said that current and reliable data are key to understanding our changing world. He said, COVID19 has elevated the importance of data to save lives and recover better.

CURRENT AND CORPORATE AFFAIRS : 13 AUGUST 2020

COVID- 19 NEWS

Vice President M Venkaiah Naidu tested negative for COVID-19: Vice President M. Venkaiah Naidu today tested negative for COVID-19. He has been under home-quarantine after he was diagnosed with COVID-19 on 29th of September. As per today’s RT-PCR test conducted by a medical team from AIIMS, both the Vice President and his wife Usha Naidu have tested negative for COVID-19.

Top 5 worst-hit states in terms of Covid cases show gradual improvement in performance Govt :- Government today said that the top five States in terms of percentage of active Covid cases, case fatality rate and recovery rate are showing gradual improvement in their performance. These States are Maharashtra, Karnataka, Kerala, Andhra Pradesh and Tamil Nadu.

Health Minister Dr. Harsh Vardhan said government considering use of more than one Covid-19 vaccine to cater to large population size: Health Minister Harsh Vardhan said considering the large population size of India, one vaccine or vaccine manufacturer will not be able to fulfil the requirements of vaccinating the whole country.He was responding to people’s queries on his social media accounts as part of the fifth episode of his Sunday Samvaad. The Heath Minister said, India may have to tie up with more than one vaccine manufacturer to ensure that everyone in the
country receives protection against the coronavirus when a vaccine becomes available.

NATIONAL NEWS

NIT Tiruchirappalli signs MoU with C-DAC Pune for installing state of art super computer: National Institute of Technology, Tiruchirappalli has signed a Memorandum of Understanding with Centre for Development of Advanced Computing (C-DAC), Pune for installing a state of the art super computer in the process of becoming part of the National Super Computing
Mission of the Government of India. A total of 10 Centrally Funded Institutions have been inducted into NSM including IISc, Bangalore and seven IITs in addition to NIT, Trichy. The objective of the NSM is to empower technology institutions with high-performance computing
capabilities that can be used for solving socially relevant, computationally intensive problems.

PM Modi releases Rs 100 commemorative coin in honour of Vijaya Raje Scindia: Prime Minister Narendra Modi today released a commemorative 100 rupee coin in the honour of Vijaya Raje Scindia. One of the founder members of BJP, Vijaya Raje Scindia is also popularly known as the Rajmata of Gwalior.

Supreme Court seeks Centre’s response on pleas challenging constitutionality of farm laws: The Supreme Court today sought response from the Centre on a batch of petitions challenging the Constitutional validity of the newly enacted three farm laws. A bench headed by Chief Justice S. A. Bobde issued notice to the Central Government and sought its reply within four weeks. The petitions alleged that the three farm laws passed by Parliament would dismantle the Agricultural Produce Market Committees system intended to ensure fair prices for farm products.

Seven Indian nationals abducted in Libya released: The seven Indian nationals who had been abducted at Asshwerif in Libya on 14th of September have been released. Ministry of External Affairs in a statement said, Indian Ambassador to Tunisia Puneet Roy Kundal spoke to them over phone after they were handed over by the abductors to the company Al Shola Al Mudia. All of the personnel released yesterday are in good health and are currently staying in the company’s premises in Brega. The Ministry said that it is trying to complete requisite formalities to enable their return to India. The Ministry also conveyed its sincere thanks to the Libyan authorities and the tribal elders from the region for their steadfast cooperation in securing the release of Indian nationals unharmed.

STATE NEWS

Arunachal Pradesh to feature on country’s aviation map with Greenfield airport at Hollongi: Arunachal Pradesh will feature on country’s aviation map with a greenfield airport at Hollongi, 15 kilometres from Itanagar. With estimated cost of 650 crore rupees, the project includes the development work, construction of airport pavements, air side work, terminal Building and city
side works.

Power supply in Mumbai restored substantially: Power Minister R K Singh: Minister of Power R. K. Singh has said that the power supply in Mumbai has been restored substantially. He said, out of more than 2,000 Mega Watts which went off, about 1,900 Mega Watts have been restored and the remaining will be restored soon. He said, the national grid is fine, the problem happened in some parts of the state grid.

ADB approves 300 million US dollar loan to finance water supply, sanitation infrastructure in Rajasthan: India and the Asian Development Bank (ADB) today signed a 300 million US dollar loan to finance inclusive and sustainable water supply and sanitation infrastructure and services in 14 secondary towns of the state of Rajasthan. On this occasion, Mr Khare said, said the project aims at providing better quality and more sustainable Water Supply and Sanitation (WSS) services in the project towns. He said, it will improve quality of life in these towns, including for the poor and vulnerable after signing the loan agreement. Mr Khare said, the investments in WSS with 10-year operation and maintenance contracts will ensure improved and sustainable service delivery in line with the State Government’s urban sector development plan.

Nagaland Environment Minister C M Chang passes away: Nagaland Minister for Environment, Forest and Climate Change and Justice and Law C.M. Chang passed away today at Naga Hospital Authority, Kohima. He was 77. State Health officials confirmed that Chang died of COVID-19. He was the sitting MLA of NDPP from 51- Noksen Assembly Constituency.

Railways to resume service of ‘New Delhi-Katra Vande Bharat Express’ from Oct 15: In a welcome move for those seeking to travel to Jammu and Shri Mata Vaishno Devi Shrine, Katra from Delhi as country is exiting from the Covid-19 lockdown in phased manner, the Railways will resume service of Semi-High speed train, New Delhi-Katra Vande Bharat express from October 15.

INTERNATIONAL NEWS

FATF’s Asia Pacific Group keeps Pakistan on ‘enhanced follow-up list’ for slow progress against terror financing: The Financial Action Task Force’s (FATF’s) Asia Pacific Group (APG) on Money Laundering has reprimanded the South-Asian country, Pakistan for its slow progress on
the technical recommendations of the FATF to fight terror financing. Earlier, Pakistan had requested for its ratings pertaining to targeted financial sanctions on terrorism and terrorist financing to be revised. The APG stated that the insufficient progress made by the country fails to justify a re-rating. The APG said, Pakistan will remain in the enhanced follow-up list and will have to continue to report back to the APG on progress to
strengthen its implementation of comprehensive Anti-money Laundering and Terrorist Financing measures.

Bangladesh cabinet approves capital punishment for rape: Bangladesh Cabinet today approved a draft law to include death penalty as the highest
punishment for rape. The decision to amend the Prevention of Women and Children Repression Act-2000 was announced after the Cabinet meeting Chaired by Prime Minister Sheikh Hasina in Dhaka. Minister for Law, Justice and Parliamentary Affairs Anisul Haq told the media that the ordinance will be issued after getting approval of the President as Parliament is not in session. Currently, the highest punishment for rape is
life imprisonment. Bangladesh has been witnessing widespread protests over the last several days against the gang rape of a woman in Noakhali which came to light on 4th of October. Students, civil society groups and other organizations have been protesting in Dhaka and many other cities of Bangladesh to demand justice for the woman raped in Noakhali and other places in the country over the last few months.

SPORTS NEWS

IPL 2020: Royal Challengers Bangalore defeats Kolkata Knight Riders by 82 runs: Royal Challengers Bangalore continued their impressive run in the Indian Premier League 2020, as the team secured a comprehensive 82-run win over Kolkata Knight Riders. AB de Villiers was the key player for RCB as he scored an unbeaten 73 off 33 balls, helping RCB post
a gigantic 194/2 on the board. In the bowling, it was the spin duo of Washington Sundar and Yuzvendra Chahal, who kept KKR on backfoot. The pair bowled a total of eight overs and gave away just 32 runs, which included three wickets

CURRENT AFFAIRS : 5 OCTOBER 2020

COVID-19 NEWS

Around 40 to 50 crore doses of COVID-19 vaccine expected to be ready by July 2021: Dr. Harsh Vardhan: Health Minister Dr. Harsh Vardhan has said that around 40 to 50 crore doses of COVID-19 vaccine is expected to be ready in the country for Immunization against COVID-19 by July next
year. He said, approximately 20 to 25 crore people comprising the high priority group, which is likely to include elderly, children, people with co-morbidities, professionals with higher exposure risk among others would be covered under the first phase of the Immunization programme. In his weekly address Sunday Samvaad, Dr. Harsh Vardhan shared the country’s way forward in tackling the coronavirus pandemic. He informed that the States and Union Territories have been given time upto end of this month to submit lists of priority population groups for receiving COVID-19 vaccine. Replying to a question during the 4th edition of his special discussion series
over COVID-19 related issues, Health Minister said that the government has formed high level committees under Health Ministry to understand the timeline of availability of the vaccines currently in phase -3 trials in the country. He informed that the government is also in discussion with the vaccine manufacturing companies to work out on the swift supply mechanism and vaccine storage facilities. Referring COVID-19 as a global challenge, Dr. Harsh Vardhan called for concerted efforts to find global solution to end the pandemic. He urged everyone to strictly adhere to the precautions and guidelines as advised by the Health Ministry from time to time.

Israel”s environment minister tests COVID-19 positive: Israel Environment Minister Gila Gamliel has tested positive for coronavirus as the country remains under lockdown while battling a second wave of infection. She was the fourth minister in Israel’s government to test positive for COVID-19 since March. The Israeli government imposed a nationwide lockdown on September 18 ahead of the Jewish High Holidays in an
effort to rein in an outbreak of the coronavirus. According to Health Ministry figures, Israel has recorded over 264,000 cases and almost 1,700 deaths since the beginning of the pandemic.

NATIONAL NEWS

National Shooter Shreyasi Singh joins BJP: National Shooter Shreyasi Singh today joined BJP. She was inducted in the party in the presence of Party General Secretaries Bhupender Yadav and Arun Singh. Shreyasi Singh is the daughter of former Union Minister Digvijay Singh.

PM Modi pays tributes to freedom fighter Shyamji Krishna Varma on his birth anniversary: Prime Minister Narendra Modi paid rich tributes to revolutionary freedom fighter Shyamji Krishna Varma on his birth anniversary today and said that the freedom fighter devoted his life towards India’s freedom and inspired many nationalists. Mr. Modi said the nation bows to the legendary nationalist on his Jayanti. He said, the country will always work hard to realise his vision for the nation. Shyamji Krishna Varma was born in 1857 and had set up a revolutionary centre in ‘India House’ at London. He propagated the cause of India’s independence through his writings in a publication journal called ‘The Indian Sociologist’.

Union Minister Ram Vilas Paswan undergoes heart surgery in Delhi Hospital: Union minister and Lok Janshakti Party (LJP) patron Ram Vilas Paswan underwent a heart surgery yesterday. Chirag Paswan, son of Mr. Ram Vilas Paswan and a prominent LJP leader had tweeted about the surgery. Mr. Paswan who is 74 years old and has been in active politics
for more than five decades was hospitalised few weeks ago. In his message, Chirag Paswan informed that his father underwent a heart surgery last evening, which forced him to cancel a party meeting and rush to his father’s side. He informed that if needed, the Union Minister for Consumer Affairs, Food and Public Distribution will undergo another operation in a few weeks. Prime Minister Narendra Modi, Home Minister Amit Shah and Defence Minister Rajnath Singh and other senior leaders spoke to Chirag Paswan to enquire about the health of the veteran leader.

Army Chief, Foreign Secretary on two-day visit to Myanmar from today: Chief of Army Staff General Manoj Naravane and Foreign Secretary Harsh Vardhan Shringla will be on a two-day visit to Myanmar beginning today. During their visit, the delegation will call on the State Counsellor of Myanmar, Aung San Suu Kyi and Commander-in-Chief of the Myanmar Armed Forces, Senior General Min Aung Hlaing. The visit will provide an opportunity to take stock of the existing bilateral ties and strengthen cooperation in areas of mutual interest. India-Myanmar relations are historic, multi-faceted and marked by mutual trust and respect. India attaches high priority to its relationship with Myanmar in accordance with its ‘Neighborhood First’ and ‘Act East’ policies. In recent times, both sides have strengthened their cooperation in several areas, including connectivity and trade, development projects, energy, capacity building, defence and security and culture and people to people links.

Railway Minister Piyush Goyal virtually inaugurates Phoolbagan Station of Kolkata’s East West Metro corridor: Railway Minister Piyush Goyal today virtually inaugurated the Phoolbagan Station of Kolkata’s
East West Metro corridor, and flagged off the first train from there to Salt Lake Sector-V. Mr Goyal also said the entire stretch of the corridor, connecting Sector-V and Howrah Maidan, is likely to be completed by December 2021. The minister said , by the end of next year, the entire
East West Corridor project of 16.55 km is expected to be completed. While inaugurating the extension of the line till Phoolbagan Station through the virtual mode, Mr Goyal said the project, which has suffered delays owing to several issues, has been fast-tracked since 2015 because of the personal intervention and monitoring by Prime Minister Narendra Modi.

STATE NEWS

BJP CEC discusses name of candidates for upcoming Bihar assembly elections: The meeting of BJP Central Election Committee held in New Delhi today to discuss the name of candidates for upcoming Bihar assembly elections. Prime Minister Narendra Modi, BJP President J P Nadda and other senior leaders have attended the meeting at party headquarters. Earlier in the day, Mr Nadda held a meeting of party leaders at his residence to discuss strategy for the polls.

Lok Janshakti Party to contest Bihar Assembly elections alone: Lok Janshakti Party, LJP has decided to fight Bihar Assembly elections alone. The party said, it will not contest the elections in alliance with Janata Dal (United) due to ideological differences. A decision in this regard was taken at party’s parliamentary board meeting chaired by LJP President Chirag Paswan in New Delhi. In a statement, the party said, it shares the strong
alliance with BJP at national level and it does not have difference with BJP. It added that after the announcement of result, LJP MLAs will form the government with BJP to support Prime Minister Narendra Modi’s development initiative.

EC appoints Ex IRS officer Madhu Mahajan & B. R Balakrishnan as Special Expenditure Observers for Bihar Assembly Polls: Election Commission has appointed Ex IRS officer Ms. Madhu Mahajan and B. R Balakrishnan as Special Expenditure Observers for General Election to Legislative Assembly of Bihar, 2020. In a statement, the commission said, Special Expenditure Observers in consultation with the Chief Electoral Officer of Bihar will be supervising and monitoring the work being done by the electoral machinery. They will ensure that stringent and effective enforcement action is undertaken based on intelligence inputs and complaints received through C-VIGIL, voter Helpline 1950 against all persons, entities trying to induce voters by distributing cash, liquor and freebies. Earlier, Madhu Mahajan was also appointed as Special Expenditure Observer for Tamil Nadu and Karnataka during Lok Sabha Election, 2019 and Maharashtra Assembly Election, 2019.

J&K LG Manoj Sinha dedicates Ashthal Bridge to public in Kulgam: Jammu and Kashmir Lieutenant Governor, Manoj Sinha during his visit to Panchayat Halqa Ashthal, Kulgam in connection with Back to Village-3 programme, dedicated Ashthal Bridge to the public. The Ashthal Bridge connects village Ashthal with adjoining areas while benefitting
about 10,000 souls residing in 13 habitations. The Lt Governor also laid the foundation stone for a Solid Waste Management plant. It is going to benefit 239 households. To maintain the high sanitation standards, atleast two dustbins in every panchayat are to be installed for solid and liquid waste management. The local inhabitants thanked the government for the Bridge as it fulfilled their long-pending demand for providing better connectivity to the village.

Minister for Development of North Eastern Region Dr Jitendra Singh releases Coffee Table Book on Discovering Heritage of Assam: Minister for Development of North Eastern Region, DoNER, Dr Jitendra Singh today released a Coffee Table Book on Discovering the Heritage of Assam, with foreword by Amitabh Bachchan and published by Penguin. The voluminous coffee table book with pictures and photographs presents an absorbing compilation of heritage, faith, beliefs and traditions of different ethnic tribes and subtribes living in the largest State of the North Eastern Region.
While releasing the book, Dr Singh congratulated its author IRS officer Padampani Bora who has over the years established himself as an accomplished author, specializing in the subjects reflecting diverse nuances of the North Eastern Region of India. Dr Jitendra Singh said, while mostly it is suggested that North East should be brought closer to the rest of India, very few understand that actually there is much more that in fact the rest of India can learn from the North East. He said, the book will help to understand the grand splendour and glory of the undiscovered facets of Assam. Dr Jitendra Singh suggested wide circulation of the Coffee Table Book and hoped that Bora’s creation will not only remain confined to the pages of the book but would also serve as cultural and heritage ambassador of the North East for the rest of the world.

All schools in Delhi to remain closed till 31st October due to coronavirus pandemic: All schools in Delhi will remain closed till 31st October due to the coronavirus pandemic. Deputy Chief Minister Manish Sisodia informed the media about the decision this afternoon. The Delhi government had earlier ordered schools in the National Capital to remain closed till 5th October. Online classes which have become the norm in recent weeks and months with the need for social distancing have been allowed to continue. The centre had, in its announcement of the
fifth phase of easing of Covid restrictions, allowed state and union territories to decide on reopening of schools, colleges and other educational institutions in a graded manner after 15th of this month.

INTERNATIONAL NEWS

Chinese company seeks co-financing for COVID 19 vaccine trial in Bangladesh: The Chinese vaccine company Sinovac Biotech has sought co-financing from Bangladesh for phase-3 clinical trial of its COVID 19 vaccine. The company was given permission to carry out the phase-3 human trial about a month back by the government. Responding to an unconfirmed report about the Chinese company asking for co-financing for a vaccine trial, the Health Division Secretary of the government of Bangladesh Abdul Mannan confirmed to the official news agency BSS on Sunday that Sinovac Biotech Ltd has sent a letter to the government seeking co-financing for COVID 19 vaccine trial. He said that the company had not asked for co-financing by the Bangladesh government when it obtained the approval to
carry out the trial. The Chinese company had originally put up the proposal to Bangladesh through the Dhaka based International Centre for Diarrheal Disease Research, Bangladesh (ICDDR’B). Government granted final clearance for the clinical trial on August 27. An official of the ICDDR’B told BSS that it is now entirely up to the government to decide if they will agree
to the co-financing proposal as there was no mention of it in the original proposal of the Chinese company. Under the agreement before the co-financing was sought, Bangladesh would have got one lakh vaccines for free. It would also have got priority to purchase adequate quantum
of vaccines from the Chinese company Sinovac Biotech.

US Secretary of State Mike Pompeo to limit his East Asia visit to Japan only: US Secretary of State Mike Pompeo will limit his East Asia visit to Japan only which was earlier planned from 4th to 8th October and also included South Korea and Mongolia. As per the State department, Pompeo would leave for Japan today but would not go to Mongolia and South
Korea as originally planned. Following the hospitalisation of US President Donald Trump with Covid-19, Mr Pompeo will be returning to Washington on 6th October after consultations with his Japanese counterpart and a wider meeting with foreign ministers of India and Australia. The visit assumes importance as Japan’s new Prime Minister Yoshihide Suga has very recently taken office and U.S. ties with Beijing are at their worst in decades in the face of the coronavirus which has now infected President Donald Trump and the First Lady Melania. The visit is important to strengthen ties with regional allies on issues in the Indo-Pacific region, from China’s dealings with the coronavirus to trade issues, new national security legislation in Hong Kong, tensions in the South China Sea, and the alleged repression of religious and ethnic minorities. In a statement, the state department said, Pompeo’s visits to Ulaanbaatar, Mongolia, and Seoul, South Korea have been cancelled and rescheduled for later in October.

Czech Republic PM”s party wins big in regional ballot amid pandemic: The senior party in the Czech Republic’s coalition government dominated the country’s regional elections and is ahead in the first round of voting for Parliament’s upper house, according to results released yesterday. The Czech Statistics Office said that with ballots from almost 100% of polling stations counted, the ANO (YES) movement led by Prime Minister Andrej Babis won 10 of the 13 regions contested during voting on Friday and Saturday. The result was a sign of a stable support for ANO, which won nine regions in 2016. ANO also has the most candidates advancing to the runoffs for 27 seats in the 81-seat Senate. The elections were the first held in
the Czech Republic during the coronavirus pandemic. Face masks were required at voting places. Quarantined voters had the option of casting ballots from vehicles at temporary polling stations across the country. Those who were unable to use a car or venture out could ask a special electoral committee to send a ballot box to their homes.

Sri Lanka imposes an indefinite curfew on two western provincial towns to contain spread of COVID-19: Sri Lanka today imposed an indefinite curfew on two western provincial towns to contain the
spread of Covid19 following the detection of a community case after a gap of nearly six months, officials said. The island nation has so far recorded 3,395 cases and 13 fatalities. An indefinite curfew has been imposed on Divulapitiya and Minwangoda towns in the suburbs of Colombo after a COVID-19 positive patient was detected today, Army Commander and COVID-19 prevention task force head Shavendra Silva said. The island nation was under a continuous lockdown since March 20.

SPORTS

IPL: CSK 81/0 against Kings XI Punjab; Mumbai Indians best Sunrisers Hyderabad by 34 runs: In IPL Cricket, chasing the victory target, Chennai Super Kings were 81 for none in eight overs against Kings Eleven Punjab in Dubai when reports last came in. Opting to bat, Punjab posted 178 for four wickets in 20 overs riding on Skipper KL Rahul’s 63 off 52 balls and Pooran 33 off 17 balls.For Chennai Shardul Thakur 2 for 39, Piyush Chawla 1 for 22 and Jadeja 1for 30 were the wicket-takers. In another fixture in Sharjah, Mumbai Indians defeated Sunrisers Hyderabad by 34 runs in Sharjah. Opting to bat, Mumbai made 208 for 5 in stipulated 20 overs. Skipper
Rohit Sharma got out early. Quinton de Kock with 67 runs off 39 balls, Ishan Kishan with 31 off 23 balls, Hardik Pandya with 28 off 19 balls and Surya Kumar Yadav with 27 off 18 balls made valuable contribution for Mumbai. For Hyderabad, Sandeep Sharma and Siddarth Kaul picked up two wickets each. Chasing the 209-run target, Sunrisers Hyderabad were restricted to 174 for 7 at the end of 20 overs. Skipper David Warner scored 60 off 44 balls. Manish Pandey with 30 off 19 balls and Jonny Bairstow with 25 off 15 balls made valuable contribution for Hyderabad.

French Open: Rafael Nadal beats Sebastian Korda to enter Men’s Singles QFs: In Tennis, Rafael Nadal defeated American qualifer Sebastian Korda 6-1 6-1 6-2 to enter the French Open Men’s Singles quarter-finals today and close in on a record-extending 13th title at Roland Garros. Nadal will next face the 19-year-old Jannik Sinner, who defeated US Open
runner-up Alexander Zverev.

Novak Djokovic advances to fourth round at French Open: In Tennis, world number one Novak Djokovic beat Daniel Elahi Galan and reached the French Open fourth round. The Serb, bidding for his 18th Grand Slam title, beat the Colombian qualifier 6-0, 6-3, 6-2. Djokovic will face 15th seed Karen Khachanov of Russia for a place in the quarter- 11 finals. It is the 11th consecutive year that Djokovic has reached the last 16. Aiming for a second French Open title, Djokovic barely looked troubled against the world number 153. Meanwhile Czech seventh seed Petra Kvitova overcame a slow start to beat Canadian teenager Leylah Fernandez and reach the fourth round. Two-time Wimbledon champion Kvitova trailed 5-1 in the opening set but stormed back to win 7-5, 6-3 against the impressive 18-year-old. She will face China’s Zhang Shuai for a place in the quarter-finals. Australian Open champion Sofia Kenin advanced with a 6-2, 6-0 win over Romanian qualifier Irina Bara.

Visnu Shivaraj Pandian wins gold in 10 meter air rifle event of International Online Shooting Championship: India’s Visnu Shivaraj Pandian won the 10m air rifle event at the fifth edition of the International
Online Shooting Championship yesterday. The 16-year-old Visnu shot 251.4 to win the title by a clear margin of two points. The second place was won by world no. 27 Etienne Germond of France while Olympic quota winner Martin Strempfl of Austria took the third place.

CURRENT AND CORPORATE NEWS : 26 SEPTEMBER 2020

Current and corporate news : 26 september 2020

NATIONAL NEWS

Dates for Bihar Assembly Elections announced; Voting to be held in three phases with strict adherence to social distancing norms: The Assembly elections in Bihar will be held in three phases starting from 28th of next month. The counting will take place on 10th November. Announcing the poll scheduled in New Delhi today, Chief Election Commissioner Sunil Arora said, the Model Code of Conduct, MCC has come into effect with the declaration of elections. He said, 71 assembly constituencies will go to polls in the first phase on 28th October, 94 seats in the second phase on 3rd November and 78 seats in the third phase on 7th November. Mr. Arora said, the number of phases for 243-member Bihar assembly polls has been
reduced keeping in mind security arrangements and festive season. He informed that the voting time has been extended by one hour till 6 PM and COVID-19 patients will vote in the last hour of the day. He said COVID-19 pandemic has forced a new normal in all aspects of life and Bihar assembly elections will be held under new security protocols.

RRTS trains entirely being manufactured under ‘Make in India’ policy, says MoHUA Secretary: Housing and Urban Affairs secretary Durga Shankar Mishra today said that high-speed commuter trains Regional Rapid Transit System, RRTS are entirely being manufactured under the government’s Make in India policy. Unveiling the first look of India’s first RRTS train today, Mr Mishra said that the environment friendly, energy efficient trains will improve the quality of life in and around NCR by accelerating economic growth and creating economic opportunities. He said, it will also reduce air pollution, carbon footprint, congestion and accidents. The Delhi-Ghaziabad-Meerut RRTS corridor is one of the three prioritised RRTS corridors being implemented in phase-1. The 82 km long Delhi-Ghaziabad-Meerut Corridor is the first RRTS corridor being implemented in India. The corridor will bring down the travel time between Delhi to Meerut by around one third. The prototype is scheduled to roll off the production line in 2022 and will be put into public use after extensive trials. The state-of-the-art RRTS rolling stock will be first of its
kind in India with a design speed of 180 kilometre per hour.

Govt sanctions 670 electric buses, 241 charging stations to boost electric mobility:

The government has sanctioned 670 electric buses and 241 charging stations to boost the electric mobility in the country. The buses have been sanctioned in the states of Maharashtra, Goa, Gujarat and Chandigarh whereas charging stations in Madhya Pradesh, Tamil Nadu, Kerala, Gujarat and Port Blair under Phase-II of FAME India Scheme. In a series of tweets, Heavy Industries Minister Prakash Javadekar said that this decision reflects government’s commitment for reducing dependence on fossil fuel
and promoting eco-friendly public transportation. Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India scheme was launched in 2015 to promote adoption of electric and hybrid vehicles in India. The second phase of this scheme has been implemented from last year with a total budgetary support of 10 thousand crore rupees.

Country’s apex regulator of medical education ‘National Medical Commission’ comes into existence: The National Medical Commission (NMC), in place of the Medical Council of India (MCI), as the country’s apex regulator of medical education and profession has come into existence from today. With the NMC coming into being, the Board of Governors (BoG)
which superseded the MCI on September 26th, 2018, to perform its functions, has been dissolved and the nearly 64-year-old Indian Medical Council Act abolished. Dr Suresh Chandra Sharma, former head of the All India Institute of Medical Sciences ENT department, Delhi, has been appointed as chairman for a period of three years. The NMC Act, which seeks to usher in mega reforms in the medical education sector,
received the assent of the president on August 8th last year. The NMC comprises a chairman, 10 ex-officio members and 22 part-time members.

DEFENCE NEWS

India-Japan bilateral maritime exercise ‘JIMEX’ to begin tomorrow: The 4th edition of India – Japan Maritime bilateral exercise JIMEX, which is conducted biennially between the Indian Navy and Japanese Maritime Self-Defense Force, JMSDF will be held in the North Arabian Sea beginning tomorrow. JIMEX series of exercises commenced in January 2012 with special focus on maritime security cooperation. The last edition of JIMEX was conducted in October 2018 off Visakhapatnam, India. Naval cooperation between India and Japan has increased in scope and complexity over the years. Advanced level of operations and exercises planned during JIMEX-20 are indicative of the continued upswing in IndoJapanese defence relations and continued efforts by both Governments to work closely for a more secure, open and inclusive global commons, in accordance with international regulations. Three day long, JIMEX 20 will showcase high degree of inter-operability and joint operational
skills through conduct of a multitude of advanced exercises, across the spectrum of maritime operations. Multi-faceted tactical exercises involving weapon firings, cross deck helicopter operations and complex surface, anti-submarine and air warfare drills will consolidate coordination developed by the two navies. JIMEX 20 will be spread over three days and is being conducted in a ‘non-contact at-sea-only format’, in view of COVID-19 restrictions.

BUSINESS AND FINANCE

RBI suggests five-pillared approach to deal with cybersecurity issues in Urban Cooperative Banks: The Reserve Bank today came out with a five-pillared strategic approach ‘GUARD’ to deal with cyber security threats being faced by Urban Cooperative Banks (UCBs). The RBI said in its document ‘Technology Vision for Cyber Security for Urban Cooperative
Banks 2020-2023′ that the number, frequency and impact of cyber incidents and attacks have increased manifold in the recent past, more so in the case of the financial sector, including UCBs. Therefore, it has become essential to enhance the security posture of UCBs to prevent, detect, respond to and recover from cyber-attacks. According to the central bank, the technology vision document, which was formalised after obtaining inputs from various stakeholders, is aimed at enhancing the cybersecurity posture of UCBs against evolving IT and cyber threat environment.

Central govt suspends operation of Insolvency and Bankruptcy Code by another 3 months to protect companies in distress due to Covid-19: The Central government has suspended the operation of the Insolvency and Bankruptcy Code, 2016 (IBC) by another three months in order to protect companies in distress due to the Covid pandemic. A gazette notification issued in this respect said that the suspension of the section 7, 9 and 10 of the IBC Code initially for six months has been further extended for another three months starting from 25th September. The Code was
earlier suspended for six months from 25 March to help the firms recover from the
financial distress due to the global pandemic. During the suspension of IBC codes, these
firms are protected from being referred to insolvency proceedings.

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CURRENT AND CORPORATE NEWS : 25 SEPTEMBER 2020

NATIONAL NEWS

‘Fitness Ki Dose, Aadha Ghanta Roz’ is Mantra to stay fit says PM Modi: Prime Minister Narendra Modi has given a new-Mantra-“Fitness Ki Dose, Aadha Ghanta Roz”. He has urged the people to apply this principle in letter of spirit to stay fit and healthy. He was interacting with fitness experts and influencers virtually on the First Anniversary of the Fit India Movement. The nation-wide online Fit India Dialogue was organized to celebrate the First Anniversary of the Fit India Movement. On the occasion, the Prime Minister also launched Fit India Age-Appropriate Fitness Protocols. Mr Modi
held interactions with cricketer Virat Kohli, actor Milind Soman, footballer Afshan Ashiq among others who shared their fitness experiences with him.

External Affair Minister Dr. Jaishankar terms IndiaChina border faceoff as unprecedented situation: Prime Minister Narendra Modi has given a new-Mantra-“Fitness Ki Dose, Aadha Ghanta Roz”. He has urged the people to apply this principle in letter of spirit to stay fit and healthy. He was interacting with fitness experts and influencers virtually on the First Anniversary of the Fit India Movement. The nation-wide online Fit India Dialogue was organized to celebrate the First Anniversary of the Fit India Movement. On the occasion, the Prime Minister also launched Fit India Age-Appropriate Fitness Protocols. Mr Modi held interactions with cricketer Virat Kohli, actor Milind Soman, footballer Afshan Ashiq among others who shared their fitness experiences with him.

India aims to end tuberculosis by 2025: Health Minister at UN: Health Minister Dr Harsh Vardhan has said that India has accorded high priority for ending tuberculosis by 2025, five years ahead of the Sustainable Development Goals. Dr Harsh Vardhan said this while addressing Ministers of Member Nations of WHO, Heads and Representatives of UN Agencies through virtual interaction yesterday. He spoke on India’s role and contribution towards strengthening multisectoral action and progress towards ending TB, especially in context of the COVID-19 crisis. The Minister added that Tuberculosis has been in existence since time immemorial and continues to remain a major global public health problem. Despite the progress made over the last decade, TB remains the leading infectious killer disease worldwide. He said, India has taken several critical steps towards ending TB.

Govt raises limit for use of SDRF funds by states from 35 per cent to 50 per cent to tackle COVID situation:

Prime Minister Narendra Modi has announced that the limit of using the State Disaster Response Fund for COVID specific infrastructure has been increased from 35 per cent to 50 per cent. He said, the decision will help States have more finances at their disposal to fight the virus. Interacting with Chief Ministers of six states and one Union Territory through video conference, Mr Modi said, there is a need to further strengthen health
infrastructure to tackle COVID. These States and UTs are Andhra Pradesh,
Maharashtra, Karnataka, Punjab, Tamil Nadu, Uttar Pradesh and Delhi. He reviewed the status and preparedness of COVID response and management. More than 63 per cent of the active cases of the country are concentrated in these six States and a Union Territory. Prime Minister also stressed on the need to improve the network of tracking and tracing, and ensure better training. He said that the country needs to not only keep fighting the virus, but also move ahead boldly on the economic front. Mr Modi stressed on the need to increase focus on effective testing, tracing, treatment, surveillance and clear messaging.

INTERNATIONAL NEWS

Bangladesh to make film on revolutionary freedom fighter Pritilata Waddedar: The government of Bangladesh is financing a film on the life of revolutionary freedom fighter Pritilata Waddedar. Addressing the ‘Muhurat’ of the film in Dhaka on Thursday, Information Minister Dr. Hasan Mahmud said that the film ‘Bhalobasha Pritilata’ will be based on the first woman Bengali revolutionary nationalist of the Indian subcontinent against the British regime. The film is based on the novel by Selina Hossain. Dr. Hasan expressed hope that the film will be screened in India and other countries also. Pritilata was born in Dhalghat village of Chittagong in Bangladesh on 5 May 1911. She had her education in Chattogram, Dhaka and then at Bethune College, Kolkata for graduation. She joined the freedom movement and worked with revolutionaries like Surya Sen and Nirmal Sen. She was involved in several revolutionary acts like the famous Chittagong
armoury raid and attack on the Pahartali European club at Chittagong in 1932 where she received bullet injury. However, she consumed cyanide before the British police could capture her.

China remains non-committal on UNSC reforms sought by G-4 countries: China has once again parried questions on permanent membership of the UN Security Council for India. At a press conference in Beijing, the Chinese foreign ministry spokesperson chose to remain non-committal on reforms at the Security Council sought by the G-4 countries. He stated that there is enormous division and lack of a widespread
consensus on the arrangement for reforms at UNSC. However, he stated that Beijing is willing to work with other UN members to seek a package solution which can accommodate all parties’ interests and concerns through dialogue and negotiation. India and other G4 countries have called for the start of text-based negotiations without delay at a virtual meeting on Wednesday on the side-lines of the 75th session of the UN General Assembly. In a statement, they have lamented that there is no meaningful
progress in the Intergovernmental negotiations. It may be recalled that China has been supporting the intergovernmental negotiations which are more in the form of a general discussion and lack transparent working methods. However, G4 countries comprising India, Japan, Brazil and Germany have been demanding the expansion of UN Security Council through substantive negotiations based on a single comprehensive text, which is formal in nature. It is also worthwhile to note that except China, all other four permanent members of security council support India’s candidature for a permanent seat at the UN Security Council.

51st IFFI to be held from 16th to 24th January next year in Goa: The 51st Edition of the International Film Festival of India, IFFI will be held from 16th to 24th January, next year in Goa. Earlier it was scheduled to be held from 20th November to 28th November, this year. The postponement follows discussion between Information and Broadcasting Minister Prakash Javadekar and Goa Chief Minister Dr. Pramod Sawant. It has also been jointly decided to hold the festival on new dates as per the International Film Festival guidelines and protocols. The festival will be conducted in a
Virtual and Physical format. All COVID related protocols will be strictly enforced a s per the festivals convened recently in the International Film Festival circuit.

SPORTS

IPL 2020, KXIP vs RCB Highlights: KL Rahul inflicts 97- run defeat on RCB: Kings XI Punjab (KXIP) won by 97 runs against Royal Challengers Bangalore (RCB) on the back of a KL Rahul 132* — the highest individual IPL score by an Indian — on Thursday. Batting first, KXIP scored 206/3 in 20 overs. KL Rahul (132*) and Mayank Agarwal (26) got Punjab off to a fluent start. Yuzvendra Chahal (1/25) got RCB the first breakthrough in the 7th over. It was Shivam Dube who got them their next two wickets, as Rahul kept losing partners in the middle overs. Rahul went into carnage mode in the death overs, as KXIP scored 206/3 in 20 overs. RCB, needing 207 to win, were off to a disastrous start in the chase, being reduced to 4/3 in the third over. AB de Villiers (28) and Aaron Finch (20) put on a short rescue act before Punjab’s leg spinners started ruling the roost in the middle overs. Ravi Bishnoi (3/32) and Murugan Ashwin (3/21) were the pick of the bowlers. RCB were eventually bowled out for 109, suffering their fourth heaviest defeat of all time in the IPL.

Australian cricketer Dean Jones dies of cardiac arrest in Mumbai: Former Australia batsman Dean Jones has died of cardiac arrest in a Mumbai hotel today. The 59 year old Dean Mervyn Jones was part of the 1987 World Cup winning team. He had played 52 Tests and 164 ODIs for Australia. He was was one of the great ambassadors of the game associating himself with Cricket development across South Asia. He was passionate about discovering new talent and nurturing young cricketers. He was in Mumbai with the commentary team for the Indian Premier League.

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CURRENT AND CORPORATE NEWS : 18 SEPTEMBER 2020

Current and corporate news : 18 september 2020

NATIONAL NEWS

Harsimrat Kaur Badal resigns in protest of Farmers’ Produce Trade & Commerce Bill 2020: Union Minister for Food Processing Industries Harsimrat Badal has resigned in protest of the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Bill, 2020 and the Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Bill, 2020. Ms Harsimrat Badal belongs to Shiromanu Akali Dal. It is reported that the Union Minister Harsimrat Kaur Badal had sent her resignation to the Prime Minister.

India committed to resolve current border issue with China through fair & peaceful manner: Rajnath Singh: Defence Minister Rajnath Singh today said that India is committed to resolve the current border issue with China through a fair and peaceful manner and at the same time the country is also prepared to deal with all contingencies. He said, China is trying to change the status quo at the Line of Actual Control which is unacceptable to India at any condition. The Defence Minister was making a statement in the Rajya Sabha on the development on border in Ladakh region. Mr. Singh said, the current situation is very different both in terms of scale of troops involved and number of friction points. He said, conduct of Indian forces throughout the standoff shows that while they maintained patience in face of provocative actions, they also equally displayed valour when required to protect territorial integrity of the country.

Education Minister confers 2nd Utkrisht Sansthan Vishwakarma Award in 14 categories to institutions under AICTE: Education Minister Ramesh Pokhriyal ‘Nishank’ has virtually conferred Second Utkrisht Sansthan Vishwakarma Award in 14 categories to the Institutions under AICTE on Vishwakarma Divas Celebration. The Utkrisht Sansthan Vishwakarma Award aims to motivate, recognize and honor the AICTE approved institutions to raise their performance in the specific domain leading to significant contribution for the growth and development of the society.

BJP inaugurates website & releases e-book on PM Modi on his birthday: Senior BJP leader and Union Minister Prakash Javdekar and Vice President
Shyam Jaju today inaugurated a website and released an e-book on Prime
Minister Narendra Modi on his birthday. People from several sectors contributed for the e-book. Speaking on the occasion, Mr Javadekar said,
people’s love and faith in Prime Minister Narendra Modi is increasing day by day. He said, Mr Modi did politics in a different way and he is dedicated to the welfare of every section of society.

NPPA extends ceiling prices of knee implants for another one year till 14th Sept 2021: To ensure accessibility of necessary medical devices to the common man at genuine cost, drug price regulator National Pharmaceutical Pricing Authority, NPPA has extended ceiling prices of knee implants for another one year till 14th September 2021. A notification has been issued by NPPA in this regard.

Govt sets up Task Force to reconsider legal age of marriage for women: Ravi Shankar Prasad: Union Government has set up a Task Force to reconsider the legal age of marriage for women. This was stated by the Law and Justice Minister Ravi Shankar Prasad in a written reply in the Rajya Sabha today. The Minister said, a Task Force has been set up in June this year to examine the matters related to the age of motherhood, lowering Maternal Mortality Ratio and improvement of nutritional levels.

STATE NEWS

Tamil Nadu: Prominent Ayurveda physician PR Krishnakumar passes away: In Tamil Nadu, prominent Ayurveda physician and Managing Director of the iconic Coimbatore Arya Vaidya Pharmacy, PR Krishnakumar passed away in Coimbatore yesterday. He was 69. He had been under treatment for various ailments at a private hospital in Coimbatore for the past one week. Krishnakumar, who had done yeomen service for the popularisation of the Ayurvedic system of medicine had been conferred the Padmasri award in He had also been the recipient of the National Ayurveda Award instituted by the Government of India. Besides being the founder of AVP Research Foundation, Krishnakumar was also the Chancellor of the renowned Avinashilingam University in Coimbatore.

Gujarat Govt not to follow Centre’s guidelines for partial opening of schools from Sept 21 due to COVID-19 infection: Gujarat Government has decided not to follow the guidelines of the Centre for partial opening of schools from 21st of September. This was announced by State Education Minister Bhupendrasinh Chudasama in Gandhinagar. AIR correspondent reports that this decision was taken during the State Cabinet meeting held on Wednesday. The Centre had permitted the Class 9th to 12th students to visit their school with the written consent of parents from 21st of September. However, this guideline of Unlock-4 will not be implemented in Gujarat. As this provision was not binding for states, the Government of Gujarat has decided that the partial reopening of schools for Class 9th to 12th will not be effective as of now.

INTERNATIONAL NEWS

Nations need to come together to provide vital treatment to suppress Covid-19 transmission: UN Chief: Describing the Coronavirus as the number one global security threat facing the world today, UN Secretary General Antonio Guterres has said that nations need to come together to provide vital treatment to suppress transmission and save lives over the next year.He said the COVID-19 pandemic is a crisis unlike any in our lifetimes, and so this year’s General Assembly session will be unlike any other, too. He said we need a vaccine to be affordable and available to all. The 75th session of the UN General Assembly commenced on Tuesday. For the first time in the history of the 193-member organization, world leaders will not be travelling to New York to address the annual high-level session and summits due to the coronavirus pandemic. Instead, nations will send in pre-recorded video statements of their Heads of State and Government that will be played in the General Assembly hall, beginning with the General Debate that begins on September 22.

Trump Administration reveals plans to offer COVID-19 vaccine to all US citizen free of cost: Trump Administration has unveiled its COVID-19 vaccine delivery plan which entails administering the drug to all US citizens free of charge. US government believes a COVID-19 vaccine will be available as soon as January and the distribution plans are outlined in two documents released by the US Department of Health and Human Services and the US Department of Defence. Trump Administration plans on delivering a ‘safe and effective’ COVID-19 vaccine to multiple sites with no cost for the providers and no out of pocket charge for the recipient. In a statement, US Department of Health and Human Services Secretary Alex Azar said that there may be limited availability of the vaccine in the initial stages and in such an event, front line workers and essential workers will be given priority. The statement also mentioned that while the Pentagon will be assisting in the distribution of the COVID-19 vaccine, it will be administered by civilian health workers.

DEFENCE NEWS

All seven Indian nationals kidnapped in Afghanistan in May 2018 brought back home safely: MEA: External Affairs Ministry has said all seven Indian nationals kidnapped in Afghanistan in May 2018 have been brought back home safely. Replying to a media query, MEA spokesperson Anurag Srivastava said the last remaining Indian national was released from captivity in Afghanistan and returned to India on 12th of this month. He conveyed India’s grateful thanks to the Afghanistan government for the assistance extended over the past two years in securing the release of all seven Indian nationals.

MEA says it has taken up matter of Zhenhua data leak with Chinese side: External Affairs Ministry today said it has taken up the matter of Zhenhua data leak with the Chinese side. Replying to a media query, MEA
spokesperson Anurag Srivastava said according to the Chinese side, the
company is a private entity and there is no connection between it and the
Chinese government. The spokesperson said government has constituted
an Expert Committee under the National Cyber Security Coordinator to study these reports, evaluate their implications, assess any violations of law and submit its recommendations within thirty days.

BUSINESS AND FINANCE

Ministry of MSME announces new guidelines to support artisans including Pottery & Beekeeping activity: Ministry of Micro Small and Medium Enterprises, MSME, had announced expanding and doubling the support to Artisans who might be interested in making Agarbatti few days ago. Taking the efforts further, the Ministry has now come out with new guidelines for two more schemes which include Pottery Activity and Beekeeping Activity. These new initiatives of the Ministry with beneficiary oriented Self-Employment schemes, are aimed at rejuvenating the grass root economy contributing to Atmanirbhar Bharat Abhiyan. For Pottery Activity Government will provide assistance of pottery wheel, Clay Blunger, Granulator etc. It will also provide Wheel Pottery Training for traditional pottery artisans and Press Pottery training for pottery as well as non-pottery artisans in Self- Help Groups. There is also provision to provide Jigger-Jolly training programme for pottery as well as non-pottery
artisan in Self-Help Groups. A total of 6,075 Traditional and others nontraditional pottery artisans, Rural Un-employed youth, Migrant Labourers will get benefitted from this Scheme. In case of the Scheme for Beekeeping Activity, Government will provide assistance of Bee boxes and Tool kits. Under this scheme, Bee boxes, with Bee colonies, will also be distributed to Migrant workers in Prime Minister Gareeb Kalyan Rozgar Abhiyaan districts. A five-day beekeeping training will also be provided to the beneficiaries through various Training Centres or State Beekeeping Extension Centres or Master Trainers as per prescribed syllabus. To begin with, Scheme proposes to cover, during 2020-21, a total of 2,050 Beekeepers, Entrepreneurs, Farmers, Unemployed Youth, Adivasis will get benefitted from these projects or programme.

Thanks for reading “Current and corporate news : 18 september 2020“

Compiled By : CS Surbhi Saxena

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CURRENT AND CORPORATE NEWS : 13 SEPTEMBER 2020

Current and corporate news : 13 september 2020

COVID-19

India’s first Coronavirus airport testing facility launched in Delhi: India’s first Corona virus airport testing facility was launched today at Delhi’s Indira Gandhi International Airport. The facility at the Terminal-3 of the airport offers a walk-in option and ensures a safe journey to all the
passengers entering the city or scheduled for domestic connecting flights.
International passengers traveling without a valid COVID negative certificate can also book a slot in advance for testing at the Airport. The test results are available within four to six hours. The Delhi Airport official confirmed to AIR correspondent that the test is not mandatory for International passengers but they can opt for it to get exemption from the mandatory seven-day institutional quarantine, in case tested negative.

Health Ministry organizes virtual conclave for private hospitals providing COVID-19 treatment: The Health Ministry today organized a virtual conclave for private hospitals providing COVID-19 treatment in the country. It provided a platform for discussion of clinical protocols and best practices in COVID-19 management towards reducing avoidable deaths. While COVID-19 has posed unprecedented challenges to the country’s health care systems, there have been proactive responses from the government as well as the private industry. The Ministry also encouraged the hospital representatives to share their key concerns and challenges being faced while managing COVID-19 in their facilities.

NATIONAL NEWS

PM Modi inaugurates 1.75 lakh houses built under Awaas Yojana- Gramin in MP: Prime Minister Narendra Modi inaugurated 1.75 lakh houses built under Pradhan Mantri Awaas Yojana – Gramin in 12 thousand villages in Madhya Pradesh today. The Prime Minister released the ‘Griha Pravesham’ plaque and inaugurated all the houses simultaneously. Speaking on this occasion, Prime Minister said that Pradhan Mantri Awaas Yojana is not just about providing housing, but also about instilling confidence in the poor so that they are free of daily struggles and they can focus towards building a better future and can sleep peacefully.

Govt moves ahead with Orientation and Training Programme of iRAD App: Road Transport and Highways Ministry is in the process of implementing Integrated Road Accident Database Project (iRAD) which will be applicable across the country. In the first instance, it has been decided to implement the proposal in six states. These are Maharashtra, Karnataka, Madhya Pradesh, Rajasthan, Uttar Pradesh and Tamil Nadu. The basic iRAD app has been developed and will be customized as per the requirements of
concerned states. Mobile app of iRAD is available for Android platform and
will be available shortly for other platforms like iOS. The two-day Orientation and Training Programme on iRAD App was conducted by the Ministry on 7th and 8th September for the selected districts of Karnataka and on 10th and 11th September for some districts of Uttar Pradesh. Based on the feedback and other suggestions received, the App will be customized for the states. The development and implementation of iRAD has been entrusted to lIT Madras and National Informatics Centre Services Inc.

Several new International standards of emission and safety measures in transport vehicles to be implement soon: The Union Government has embarked upon a transformational programme of implementing international standards of emission and safety measures in the transport vehicles. The government is moving on the path of a long-term regulatory road map for the automobile industry to grow and increase its contribution to Gross Domestic Product. Ministry of Road Transport and Highways, in a statement said, there are plans to bring Indian automotive industry at par with developed nations in such regulations. The Ministry said, it has already notified a number of regulations for upgrading emission and
safety features in Indian automobiles. These include the draft notifications
for anti-lock braking systems, airbags, speed systems, reverse parking
assist and crash standards. The Ministry is also in the process of finalization
of implementation of standards for Eectronic Stability Control systems and
brake assist systems for relevant categories by next two years. The Ministry
said, it is contemplating higher level of safety for all categories of vehicles.

China’s PLA hands over 5 Arunachalee youth missing from Upper Subansiri district to Indian Army: China’s People’s Liberation Army (PLA) has handed over the five Arunachalee youth missing from Nacho in Upper Subansiri district to the Indian Army today. After the missing report of these youths was received, Indian Army had approached PLA on the hotline to trace and return them. On the 8th September response on the hotline confirmed that the missing individuals had been traced. Indian Army took over all five individuals at Kibitu today after completing all the formalities. These 5 individuals will now be quarantined for 14 days as per COVID-19 protocol and will thereafter be handed over to their family members.

NTA announces JEE (Main) results in record time of just 4 days: The National Testing Agency (NTA) has announced the results of Joint Entrance Examination (Main) in a record time of four days. The test which is the qualifying exam for appearing for the JEE (Advanced) was held in the
first week of September this year. Twenty four candidates scored 100
percentile in the JEE(Main) and the largest number of toppers comprising
eight candidates are from Telangana. Among the remaining toppers, five are from Delhi, four from Rajasthan, three from Andhra Pradesh, two from
Haryana, and one each from Gujarat and Maharashtra. Out of eight lakh 41
thousand registered applicants, six lakh 35 thousand appeared for the engineering entrance test. JEE (MAIN) was postponed twice due to COVID19 pandemic. The examination was conducted without any glitch at 660 centres in 232 cities including eight centres outside the country.

DGCA orders strict action on violation of photography rules onboard flight: Directorate General of Civil Aviation, DGCA has ordered strict action for violation of photography rules onboard flight which compromises safety of passengers. In an order issued today, the DGCA has said that any such
violation from now on will result in suspension of the scheduled flight for a
period of two weeks on the route on which the violation has taken place. It
said, the suspension will begin from the next day of such violation being
reported and will continue till the Airline takes all necessary punitive actions against those responsible. The Aircraft Rules, 1937, states the procedures and rules for taking prior permission before any photography or videography at Airports or in flights. It also prohibits photography and videography during landing, taking off or of an aircraft on ground at a defence aerodrome.

STATE NEWS

Punjab CM Amarinder Singh launches Smart Ration Card Scheme: Punjab Chief Minister Captain Amarinder Singh today launched the Smart
Ration Card Scheme to cover 1.41 crore beneficiaries across the state.
Rolling out the scheme virtually, with connection to 100 places across the
state, the Chief Minister said, 37.5 lakh cards will be distributed to the eligible beneficiaries this month. Besides, he also announced a separate statefunded scheme to provide subsidized rations to the nine lakh beneficiaries not covered under the National Food Security Act (NFSA). Captain Singh said, with this, the total number of beneficiaries in the state will go up to 1.50 crore.

NCB conducts raids on drug traffickers in Mumbai: The Narcotics Control Bureau – NCB has conducted raids on drug traffickers at some locations in Mumbai this morning. According to an official, the Mumbai zone of the NCB conducted these raids based on specific information. However, these raids are not directly linked to the drugs case pertaining to the death of filmstar Sushant Singh Rajput, which NCB’s special investigation team – SIT is probing. The SIT is probing the drugs case in
which actor Rhea Chakraborty, her brother Showik, late actor Sushant Singh Rajputs manager Samuel Miranda, domestic help Dipesh Sawant and others have been arrested.

INTERNATIONAL NEWS

Jaishankar participates in inaugural session of IntraAfghan negotiations in Doha: External Affairs Minister Dr. S. Jaishankar participated in the inaugural session of the Intra-Afghan negotiations held in Doha on Saturday via video teleconference. The Minister’s participation was in response to an invitation extended to him by the Qatar’s Foreign Minister Mohammad bin Abdulrahman bin Jassim Al Thani. In his address, Dr. Jaishankar referred to the millennia-old relationship between India and Afghanistan, which he said had withstood the test of time. He highlighted India’s role as a major development partner of Afghanistan with over 400 projects completed in all the 34 provinces of Afghanistan. The Minister conveyed that India’s policy on Afghanistan had been consistent. India believes any peace process must be Afghan-led, Afghan-owned and Afghan-controlled, has to respect the national sovereignty and territorial integrity of Afghanistan and preserve the progress made in the establishment of a democratic Islamic Republic in Afghanistan. The interests of minorities, women and vulnerable sections of society must be preserved and the issue of violence across the country and its neighbourhood has to be effectively addressed. Dr. Jaishankar wished for the success of the Intra-Afghan negotiations in delivering to the people of Afghanistan what they have longed for.

New ASEAN-India Plan of Action adopted for 5 years at Ministerial Meeting: External Affairs Minister Dr. S. Jaishankar co-chaired the ASEAN-India Ministerial Meeting on Saturday along with his Thailand counterpart Don Pramudwinai. The meeting was held virtually and saw the participation of Foreign Ministers of the ten ASEAN Member States and India. It reviewed the status of ASEAN-India Strategic Partnership in several areas including maritime cooperation, connectivity, education and capacity building and people-to-people contacts. It also reviewed the progress in implementation of the ASEAN-India Plan of Action, 2016-2020. The new ASEAN-India Plan of Action (2021-2025) was adopted at the Meeting. The Ministers discussed ways to strengthen cooperation to fight COVID-19 pandemic and exchanged views on important regional and international developments.

UNSC members urge Myanmar to ensure Rohingya participation in Elections: Eight members of the UN Security Council (UNSC) have urged Myanmar to ensure that Rohingya participate in the general elections scheduled to be held on November 8. In a joint statement issued on Friday, Belgium, the Dominican Republic, Estonia, France, Germany, Tunisia, UK and the US asked Myanmar to ensure that individuals of all communities, including Rohingya, are able to participate safely, fully, and equally in credible and inclusive elections.

BUSINESS AND FINANCE

Virtual Buyer-Seller meet for carpet exports to commence from Sept 29: After the success of the 40th India Carpet Expo, the Carpet Export Promotion Council (CEPC) has announced a three-day Buyer-Seller Meet in virtual mode with special focus on Australia and adjoining countries to ensure business continuity amid COVID-19 pandemic. The buyer-seller meet shall be held from 29th of September to 1st of October and with a limited number of virtual booths available, only 50 exhibitors shall participate in the event on first-cum-first-serve basis. India is the biggest exporter of handmade carpets to countries like Australia in the Oceania Region. All carpet exporters interested in participation in Buyer-Seller Meet have been advised to coordinate with the Directorate of Handicrafts and Handloom, Kashmir, Kashmir Haat, Srinagar or reach out on adh.exportpromotion@gmail.com.

RBI issues guidelines for appointment of CCO in banks: Reserve Bank of India has issued guidelines for appointment of Chief Compliance Officer (CCO) in banks to ensure uniform approach with regard to compliance and risk management culture across the banking industry. Accordingly, RBI has said that the CCO must be appointed for a minimum fixed period of three years. The person should be a senior executive of the bank, preferably in the rank of a general manager or an equivalent position or he could also be recruited from outside. Further, there shall not be any responsibility which brings elements of conflict of interest, especially the role relating to business. He must not be a member of any committee which brings his/her role in conflict with responsibility as member of the committee, including any committee dealing with purchases/sanctions. As per the circular, no vigilance case or adverse observation from the RBI should be pending against the candidate identified for appointment as the CCO. Selection of the candidate for the post of the CCO should be done on the basis of a well-defined selection process and recommendations made by the senior executive-level selection committee constituted by the board for the purpose.

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CURRENT AND CORPORATE NEWS : 12 SEPTEMBER 2020

Current and corporate news 12 september 2020

COVID-19

0.73 pct adults in India were exposed to COVID amounting to 6.4 million infections by early May: ICMR sero survey: The findings of the first national sero survey conducted by the ICMR, published in the Indian Journal of Medical Research, indicate that 0.73 per cent adults in India were exposed to SARS-CoV-2 amounting to a total of 6.4 million infections by early May. The survey was conducted from 11th May to 4th June and covered 28 thousand individuals whose blood samples were tested for IgG antibodies using COVID Kavach ELISA kit. Also, seropositivity was the highest in the age group of 18 to 45 years with 43.3 per cent, followed by those between 46 to 60 years with 39.5 per cent and it was the lowest among those aged above 60 with 17.2 per cent. The survey report said, it’s estimated that there were a total of 64 lakh 68 thousand 388 adult infections in India by early May. The report said, the low prevalence observed in most districts indicates that India is in the early phase of the epidemic and the majority of the Indian population is still susceptible to SARS-CoV-2 infection. It highlighted the need to continue to implement context-specific containment measures including testing of all symptomatics, isolating positive cases and tracing high-risk contacts to slow down transmission and prevent overburdening of the health system.

NATIONAL NEWS

Centre launches Climate Smart Cities Assessment Framework along with ‘Streets for People Challenge’: Housing and Urban Affairs Minister Hardeep Singh Puri today launched the Climate Smart Cities Assessment Framework, CSCAF 2.0, along with the ‘Streets for People Challenge’ in a virtual event. The objective of CSCAF is to provide a clear roadmap for cities towards combating Climate Change while planning and implementing their actions, including investments. CSCAF initiative intends to inculcate a climate-sensitive approach to urban planning and development in India. The Streets for People Challenge is the response to the need for making the cities more walkable and pedestrian friendly. The Challenge builds on the advisory issued by the Ministry for the holistic planning for pedestrian-friendly market spaces, earlier this year. The Challenge will support cities across the country to develop a unified vision of streets for people in consultation with stakeholders and citizens.

PM Modi to dedicate to nation three key projects related to Petroleum sector: Prime Minister Narendra Modi will dedicate to the nation three key projects related to the Petroleum sector in Bihar through video conferencing on Sunday. The projects include the Durgapur-Banka section of the ParadipHaldia-Durgapur Pipeline Augmentation Project and two LPG Bottling Plants. They have been commissioned by Indian Oil and Hindustan
Petroleum Corporation Limited- HPCL, under the aegis of the Ministry of
Petroleum and Natural Gas. The 193 kilometer long Durgapur-Banka pipeline section is a part of the Paradip-Haldia-Durgapur Pipeline
Augmentation Project, for which the foundation stone was laid by the Prime
Minister on 17th February 2019. Durgapur-Banka section is the extension of the existing 679 Kilometer long Paradip-Haldia-Durgapur LPG pipeline to thenew LPG bottling plant at Banka in Bihar.

India, China agree on five points for disengagement & easing of tensions at LAC: India and China have agreed on five points to guide their approach to the situation on the Line of Actual Control (LAC). In the bilateral meeting between Foreign Minister Dr. S. Jaishankar and his Chinese counterpart Wang Yi held yesterday along the sidelines of the Shanghai Cooperation Organisation (SCO) Ministerial meet in Moscow, both the Ministers agreed for early disengagement and easing of tensions at the LAC. Firstly, the two Ministers agreed that both sides should take guidance from the series of consensus of the leaders on developing India-China relations, including not allowing differences to become disputes. Secondly, the two Foreign Ministers agreed that the current situation in the border areas is not in the interest of either side. They agreed therefore that the border troops of both sides should continue their dialogue, quickly disengage, maintain proper distance and ease tensions. Thirdly, the two Ministers agreed that both sides shall abide by all the existing agreements and protocol on China-India boundary affairs, maintain peace and tranquillity in the border areas and avoid any action that could escalate matters. The two sides also agreed to continue to have dialogue and communication through the Special Representative mechanism on the India-China boundary question. They also agreed in this context that the Working Mechanism for Consultation and Coordination on India-China border affairs, should also continue its meetings. Lastly, the Ministers agreed that as the situation eases, the two sides should expedite work to conclude new Confidence Building Measures to maintain and enhance peace and tranquillity in the border areas.

Santosh Gangwar addresses Virtual Meeting of G-20 Labour and Employment Ministers: Labour and Employment Minister Santosh Gangwar has called upon all G20 members to continue to work together for finding solutions to the common problems resulting from the COVID-19 pandemic. Mr Gangwar was speaking at Virtual Meeting of G-20 Labour and Employment Ministers last evening through video conferencing. Referring to region specific measures to contain the impact of COVID-19 pandemic, the Minister underlined that to mitigate the problems of the workers, India encouraged its employers for payment of wages to their workers. Mr Gangwar added that adequate arrangements were made to provide temporary shelters, food and medical facilities to the migrant labourers.

STATE NEWS

Gujarat & Andaman and Nicobar Islands named best performers in State StartUp Rankings 2019: State of Gujarat and Union Territory of Andaman and Nicobar Islands have been named the best performers in the State StartUp Rankings 2019. They have been recognized for their outstanding performance in simplifying commerce, enhancing productivity and leveraging technology. The State Startup Rankings was released in New Delhi today. Karnataka and Kerala are the top performing states in the State StartUp Rankings for fostering innovative entrepreneurship to attract business and finance. Andhra Pradesh, Chhattisgarh, Himachal Pradesh, Mizoram, Tamil Nadu, Assam, Delhi, Madhya Pradesh, Sikkim and Uttar Pradesh are the emerging startup ecosystems in the country. Speaking on the occasion, Commerce and Industry Minister Piyush Goyal said that during COVID period, Indian Startups have come up with brilliant ideas and solutions to the many problems that the country and the world face. Mr Goyal said, they also see a number of startups coming up with innovative ideas on delivery of groceries, meeting the essential requirements of the people of the country, and coming up with newer ideas to promote the digital economy and ecommerce in different ways.

Gujarat government announces state’s first Heritage Tourism Policy: Gujarat Government has announced the state’s first Heritage Tourism
Policy. This was announced after the meeting chaired by Chief Minister Vijay Rupani in Gandhinagar today. According to sources, the policy has
provisions to permit use of pre-1950 historical buildings such as heritage
palaces and forts, as heritage hotels, heritage museums, heritage banquet
halls and heritage restaurants, provided that basic heritage structure is not
disturbed. This decision paves a way for creating tourism attraction in
unused historical buildings. Under this policy, the State Government will
provide an aid of five to ten crore rupees to new or existing heritage hotels
for renovation and expansion. According to the policy provisions, the
developers will be provided an aid of 45 lakh to one crore rupees, to start
new or restore an existing heritage museum, heritage banquet hall and
heritage restaurant. The restoration or expansion work should be done
without altering or damaging the existing original structure. The State
Government expects that the new policy will place Gujarat on the world
heritage tourism map. International tourists will not only be able to enjoy the heritage sites, but also enjoy a stay at ancient palaces, forts owned by Kings and other ancient monuments.

Bihar: Congress MLAs Purnima Yadav, Sudarshan Kumar resign from party: In Bihar, two Congress MLAs Purnima Yadav and Sudarshan Kumar today resigned from party and joined JD(U). Purnima Yadav represents Govindganj while Sudarshan Kumar Barbigha assembly constituency.

INTERNATIONAL NEWS

Americans paying tributes on 19th anniversary of
September 11 attacks: Americans are commemorating the 19th Anniversary of the September 11 attacks with tributes that have been altered by Coronavirus precautions and woven into the Presidential campaign. The observance will be restricted so that not even victims’ families can attend, though small groups can visit the memorial there later in the day. According to White House, President Donald Trump will pay respects in the morning at the Flight 93 National Memorial near Shanksville in Pennsylvania. Democratic challenger Joe Biden to pay respects in the afternoon at the same venue after attending the observance at the 9/11 memorial plaza at the World Trade Centre in New York. The hijacked plane attacks on September 11, 2001 killed nearly 3,000 people at the trade centre, at the Pentagon and near Shanksville in Pennsylvania.

Air India operates 5th Vande Bharat flight from Delhi to Ningbo, China: India operated its fifth Vande Bharat flight to China yesterday. Late last night, Air India flew in 212 Indians, three OCI card holders, Chinese nationals and few foreign nationals to Ningbo in China from Delhi. This enabled many stuck Indians to unite with their family members and enabled them to join back work in China. Indian Consulate in Shanghai tweeted that the flight carried back 54 Indians who wanted to return back to motherland. Travellers to both sides will have to follow extant quarantine requirements in respective countries.

India, US ask Pakistan to expeditiously bring perpetrators of 26/11 Mumbai, Pathankot airbase attacks to justice: India and the United States of America have asked Islamabad to expeditiously bring the perpetrators of terrorist attacks, including the 26/11 Mumbai terror attacks and the Pathankot airbase attack to justice. This was announced in a joint statement released after the meeting of India-US Counter Terrorism Joint Working Group and the India-US Designations Dialogue which concluded yesterday. Both India and US said that there is an urgent need for Pakistan to take immediate, sustained and irreversible action to ensure that no territory under its control is used for terrorist activities. In the statement, both sides denounced the use of terrorist proxies and strongly condemned cross-border terrorism in all its forms. Views were exchanged on threats posed by UN-sanctioned terrorist entities. Emphasis was laid for concerted action against all terrorist networks, including alQa’ida, ISIS, Lashkar e-Tayyiba, Jaish-e-Mohammad, and Hizb-ul Mujahideen.

US revokes visas of more than 1,000 Chinese students deemed to be a security risk: The US has revoked the visas of more than 1,000 Chinese students and researchers who are deemed to be a security risk. A statement issued by the State Department said, the revocation of the visas was authorized by a proclamation signed by President Donald Trump.

OBITUARY

Arya Samaj leader, Social activist Swami Agnivesh passes away: Arya Samaj leader and social activist Swami Agnivesh passed away today
at the Institute of Liver and Biliary Sciences, ILBS in New Delhi. He was 80.
Swami Agnivesh was suffering from liver cirrhosis and was critically ill and
on ventilatory support since Tuesday due to multi organ failure. Today, his
condition deteriorated and he went into cardiac arrest in the evening. ILBS
said, resuscitation was attempted but the he passed away at 6:30 PM. Agnivesh was elected to Haryana Legislative Assembly in 1977 and served
as a Cabinet Minister for Education in the state in 1979. He founded Bonded
Labour Liberation Front in 1981 and worked against bonded labour. He also led numerous movements against alcoholism. Swami Agnivesh also served as president of the Sarvadeshik Arya Pratinidhi Sabha, World Council of Arya Samaj.

SPORTS

US Open Tennis: Victoria Azarenka sets up final clash with Naomi Osaka in Women’s Singles: In the US Open Tennis, Belarusian Victoria Azarenka will face Japan’s Naomi Osaka in the summit clash of the women’s singles tomorrow. In the semifinal, Azarenka defeated Serena Williams 1-6, 6-3, 6-3 and ended Serena’s 24th Grand Slam singles title. In another semi final, Naomi Osaka of Japan beat American Jennifer Brady 7-6, 3-6, 6-3. In Men’s Singles semifinals later tonight, while Pablo Carreno Busta of Spain will face Germany’s Alexander Zverev, Russian Daniil Medvedev will take on Dominic Thiem of Austria. The winners will meet in the final on Sunday.

Thanks for reading “Current and corporate news 12 september 2020”

Compiled By : CS Surbhi Saxena

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CURRENT AND CORPORATE NEWS : 9 SEPTEMBER 2020

Current and corporate news 9 september 2020

NATIONAL NEWS

Cabinet approves asset monetization of subsidiaries of PGCIL through Infrastructure Trust: The Cabinet Committee on Economic Affairs has approved Asset Monetization of subsidiaries of Power Grid Corporation of India LimitedPOWERGRID through Infrastructure Investment Trust. It has given approval to POWERGRID to undertake monetization of its Tariff Based Competitive Bidding (TBCB) assets, held in existing Special Purpose Vehicle (SPVs), through Infrastructure Investment Trust (InvIT). The approval would facilitate POWERGRID, to undertake asset monetization of its identified TBCB transmission assets through InvIT, so that the proceeds from the asset monetization could be utilized for fresh investment in the transmission network expansion and other capital schemes of the company. In the first block, POWERGRID would be able to monetize 5 TBCB assets of gross block of 7164 crore rupees. Based on the experience gained, further monetization shall be carried out in future. Asset recycling is a key strategy of the Government to release the capital invested in operational assets and the proposed InvIT of POWERGRID would attract both domestic as well as global investors including Sovereign Wealth Funds. Sale of assets to InvIT is a way of accessing long term relatively cheap finance required to fund infrastructure projects in Transmission Sector. The CAPEX Plan of POWERGRID for next two years 2020-21 and 2021-22 is 20 thousand 500 crore rupees. The government has enacted an enabling regulatory and taxation framework for InvITs and the proposed InvIT by POWERGRID would deepen this market.

India, ADB sign 500 million US dollar loan for DelhiMeerut RRTS corridor: India and the Asian Development Bank (ADB) today signed a 500 million US dollar loan for Delhi-Meerut Regional Rapid Transit System (RRTS) corridor.The first tranche of a total one billion dollar facility, to build a modern, high-speed 82-kilometer Delhi-Meerut RRTS corridor will improve regional connectivity and mobility in India’s national capital region (NCR). The signatories to the loan agreement for the Delhi-Meerut RRTS Investment Project were Sameer Kumar Khare, Additional Secretary in the Ministry of Finance and Kenichi Yokoyama, Country Director of ADB’s India Resident Mission who signed for ADB. The first tranche loan will support construction of the first of three priority rail corridors planned under the NCR Regional Plan 2021 to connect Delhi to other cities in adjoining states.

Narendra Singh Tomar inaugurates 22 bamboo clusters
in nine states: Agriculture Minister Narendra Singh Tomar today inaugurated 22 bamboo clusters in nine states by virtual mode. These States are Gujarat, Madhya Pradesh, Maharashtra, Odisha, Assam, Nagaland, Tripura, Uttarakhand and Karnataka. A logo for the National Bamboo Mission was also released. The Agriculture Minister stressed that the Government’s goal in the bamboo sector is being achieved with the concerted efforts of all stakeholders of the Bamboo Mission. He said, keeping in consideration the importance of bamboo, the Indian Forest Act 1927 was amended in the year 2017 to remove bamboo for the category of trees. Mr Tomar said, as a result now anyone can undertake cultivation and business in bamboo and its products.

Five PSUs under Petroleum Ministry to join International Solar Alliance Coalition for Sustainable Climate Action: Petroleum and Natural Gas Minister Dharmendra Pradahan today said that five Public Sector Undertakings under his Ministry will be joining International Solar Alliance (ISA) Coalition for Sustainable Climate Action (ISA-CSCA) as Corporate Partners. In his inaugural Speech at the First World Solar Technology Summit organized by ISA, Mr Pradhan said that Oil and Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Hindustan Petroleum Corporation Limited (HPCL) and GAIL (India) Limited will be contributing to ISA’s Corpus Fund.

NCB arrests Rhea Chakraborty in drug case related to Sushant Singh Rajput’s death probe: The Narcotics Control Bureau, NCB has arrested Rhea Chakraborty in a drug case related to actor Sushant Singh Rajput’s death probe. Confirming her arrest, NCB’s Deputy Director, KPS Malhotra said the actress will be produced before a magistrate via video conferencing by 7.30 pm. The arrest comes after three days of questioning. Her brother Showik Chakraborty, Sushant’s house manager Samuel Miranda and house help Dipesh Sawant, were arrested last week in the case. NCB is likely to seek her remand so that she can be confronted with them as the agency tries to break the alleged drugs cartel operating in Mumbai’s film industry.

CIPET to establish two new Centres for Skilling and Technical Support at Bhagalpur & Varanasi: Central Institute of Petrochemicals Engineering & Technology (CIPET) under the Ministry of Chemicals and Fertilizers will be shortly establishing two new Centres for Skilling and Technical Support- CSTS at Bhagalpur (Bihar) and Varanasi (UP) . Secretary, Chemicals and Petrochemicals Shri R.K Chaturvedi said that every year 1000 youths will be trained in each centre through Diploma & Skill Development programmes for gainful employment in petrochemicals & allied industries. Technical Support Services offered by these centres will act as a catalyst for development and growth of new and existing industries in the region.

STATE NEWS

HC stays law to provide 25% reservation for Karnataka students in NLSIU: The Karnataka High Court has stayed the new law to provide a reservation of 25 percent of the total seats to the students of Karnataka in the National Law School of India University in Bengaluru. A Division bench of Justice B V Nagarathna and Justice Ravi V Hosmani passed the interim order today. In March, the state legislative Assembly had passed the NLSIU Amendment Act to give 25 percent horizontal reservation to those who studied for a minimum of 10 years in Karnataka. The interim order was passed by the Division bench after an application was filed by the University about its decision to conduct its own entrance test on September 12 for selection of students for the current academic year. Hence the bench issued an interim order today subject to its final verdict on the reservation issue. The bench also issued certain directions on preparing the merit list based on the Law University’s Aptitude test.

Shiv Sena’s Neelam Gorhe elected unopposed as Deputy Chairperson of Maharashtra Legislative Council: Amidst high drama, Shiv Sena’s Dr. Neelam Gorhe was elected unopposed as the deputy chairperson of the Maharashtra Legislative Council today. The Opposition BJP had moved the Bombay High Court to cancel the election stating many of its legislators have tested Covid positive and so they cannot attend the House proceedings. However, Chairman, Ramraje NaikNimbalkar did not accept the demand and went ahead with the House proceedings to conduct the election.

Shiv Sena appoints MP Sanjay Raut as party’s chief spokesperson: The Shiv Sena today said it has appointed its Rajya Sabha member Sanjay Raut as the chief spokesperson of the party. Raut, is also the executive editor of Shiv Sena mouthpiece ‘Saamana’. A statement was issued regarding the appointment. The statement further said, besides Raut, Lok Sabha members Arvind Sawant and Dhairyasheel Mane, Rajya Sabha member Priyanka Chaturvedi, Maharashtra ministers Uday Samant, Anil Parab, Gulabrao Patil, MLAs Sunil Prabhu and Pratap Sarnaik, Mumbai Mayor Kishori Pednekar and senior leader Neelam Gorhe have been nominated as the party’s spokespersons.

Telangana Assembly passes resolution demanding Centre to honour PV Narasimha Rao with Bharat Ratna: The Telangana State Legislative Assembly today passed an unanimous resolution demanding the Centre to honor former Prime Minister, PV Narasimha Rao with the country’s highest civilian honour, Bharat Ratna posthumously. Chief Minister K Chandrashekhar Rao introduced the resolution in the Assembly, demanding that the Centre make the announcement in this regard during the upcoming Parliament session.

Telangana to scrap posts of VROs as part of major reforms in Revenue System: Telangana Government has decided to scrap posts of Village Revenue Officers as part of major reforms under proposal in the Revenue Department. The registrations of properties and other documents have been stopped across the state from today onwards till further orders. State Cabinet meeting held late in the evening yesterday in Hyderabad has sanctioned approval to many draft bills to bring in reforms in this regard. Later the authorities in the Chief Minister’s Office have revealed that the Cabinet has approved over half a dozen proposed laws during its meeting and all the bills will be introduced in the current Monsoon Session of the Assembly. The Assembly Session began yesterday and will continue till 28th of this month. In a major reform aimed at streamlining the Revenue System in the state, the Telangana Government has proposed scrapping the posts of Village Revenue Officers (VROs). They are the officials who hold all major land records at the ground level. A draft bill in this regard was approved by the State Cabinet yesterday.

IMPORTANT DAYS

International Literacy Day being celebrated across globe: Today is International Literacy Day. This Day is celebrated on the 8th of September every year to remind everyone of the importance of literacy for individuals, communities and societies. This year, the focus is on – “Literacy, teaching and learning in the COVID-19 crisis and beyond”. The theme highlights literacy learning in a lifelong learning perspective. The recent Covid-19 crisis has been a stark reminder of the existing gap between policy discourse and reality. During this pandemic, in many countries, adult literacy programmes were absent in the initial education response plans. During the initial phase of the pandemic, schools were closed disrupting the education of 62.3 per cent of the world’s student population of 1.09 billion. World over, around 773 million adults and young people lack basic literacy skills. 617 million children and adolescents are not achieving minimum proficiency levels in reading and mathematics. The issue of literacy is a key component of the UN’s Sustainable Development Goals and the UN’s 2030 Agenda for Sustainable Development.

BUSINESS AND FINANCE

RBI paves way for loan recasts; 26 sectors identified: The Reserve Bank yesterday specified five financial ratios and sectorspecific thresholds for resolution of COVID-19-related stressed assets in 26 sectors, including auto components, aviation and tourism. The circular issued by the Reserve Bank for resolution of the stressed assets is based on the recommendations of the K.V. Kamath Committee, which submitted its report on 4th of September. The 26 sectors specified by the RBI include automobiles, power, tourism, cement, chemicals, gems and jewellery, logistics, mining, manufacturing, real estate, and shipping among others. The RBI said, the ratios prescribed are intended as floors or ceilings, as the case may be, but the resolution plans shall take into account the pre-COVID19 operating and financial performance of the borrower and impact of COVID-19 on its operating and financial performance at the time of finalizing the resolution plan, to assess the cash flows in subsequent years, while stipulating appropriate ratios in each case. RBI also said, given the differential impact of the pandemic on various sectors/entities, the lending institutions may, at their discretion, adopt a graded approach depending on the severity of the impact on the borrowers, while preparing or implementing the resolution plan.

OBITUARY

Prez Kovind, PM Modi express anguish over passing away of Prof Govind Swarup: President Ramnath Kovind has said the world has lost an astronomy legend with the demise of Professor Govind Swarup. In a tweet, Mr Kovind said he contributed to fundamental developments in radio astronomy and created two of the world’s largest radio telescopes in India. Prime Minister Narendra Modi has expressed anguish at the passing away of scientist Professor Govind Swarup. In a tweet, Mr Modi said his pioneering works in radio astronomy have attained global commendation.

SPORTS

Tennis: Indo-Canadian pair Rohan Bopanna-Denis Shapovalov crashes out of US Open: In the US Open Tennis, the Indo-Canadian pair of Rohan Bopanna and Denis Shapovalov went down fighting their men’s doubles quarterfinal to the DutchRomanian duo of Jean-Julien Rojer and Horia Tecau in straight sets 7-5, 7- 5. Rojer and Tecau will now play Brazilian-Croatia pair of B. Soares and M. Pavić in the second Semi Final tomorrow. The first Semi Final will be played between the British American duo of J. Salisbury and R. Ram and CroatianDutch pair of N. Mektić and W. Koolhof. In Women’s Singles fourth round matches, Serena Williams defeated Maria Sakkari of Greece 6-3, 6-7, 6-3. Naomi Osaka of Japan defeated Anett Kontaveit of Estonia. Williams will play Tsvetana Pironkova of Bulgaria in the quarter final tomorrow, while Osaka will take on Shelby Rogers of US.

Thanks for reading “current and corporate news 9 september 2020”

Compiled By : CS Surbhi Saxena

You can also submit article by sending to taxconcept4@gmail.com

CURRENT AND CORPORATE NEWS : 8 SEPTEMBER 2020

Current and corporate news : 8 september 2020

NATIONAL NEWS

President Ramnath Kovind asks states to organise virtual sessions to implement NEP: President Ram Nath Kovind while addressing the conference said the New Education Policy gives top priority to provide basic literacy and numeracy to all children at primary school level by the year 2025. He said, the Policy has been formulated after an unprecedented and lengthy process of consultations including over two lakh suggestions received from about 675 districts. Mr. Kovind said the new National Education Policy makes it clear that the public education system is the basis of a vibrant democratic society and asserted that strengthening of public educational institutions is therefore of prime importance. He said that integration of technology in the Education System will further boost the corrective measures and informed that a National Educational Technology Forum will soon be established in the country to suggest such measures to all stakeholders. President asked Governors to organise theme-based virtual sessions in their States to implement the New National Education Policy.

New Education Policy will prepare Indian youth for new challenges in ever evolving sphere of Employment & Jobs: PM Modi: Prime Minister Narendra Modi has hailed the New Education Policy and said that it will change the one size fits all theory of earlier education policies. He said the New Education Policy will prepare Indian youth for new challenges in the ever evolving sphere of employment and jobs. He was addressing the inaugural session of the Governors’ Conference on National Education
Policy through video conference this morning. The Prime Minister said that
suggestions of more than 2 lakh people from across the country were amalgamated in the New Education Policy. The PM asserted that Education
policy is the key to fulfil the nation’s aspirations and called for minimal
government intervention and influence in its implementation. The Prime
Minister said, the policy paves the way for opening campuses of best international institutions in India so that youth from common families can also join them.

Plea for care of elderly during COVID-19: SC grants four weeks to states to file their responses: The Supreme Court today granted another four weeks’ time to states, to file their responses on a plea seeking directions to provide masks and sanitisers to the elderly amid COVID-19 pandemic. The matter came up for hearing before a bench headed by Justice Ashok Bhushan. The Bench in its August order had directed that all eligible old age persons should be regularly paid pension and states should provide them necessary medicines, masks, sanitisers and other essential goods in wake of the pandemic. The bench, also comprising Justices R S Reddy and M R Shah, was hearing a plea filed by former union minister and senior advocate Ashwani Kumar who has sought directions saying elderly people need more care and protection in this time of pandemic. During the hearing conducted through videoconferencing, Kumar told the bench that only some states including Odisha and Punjab have responded to the petition so far.

Country as a whole so far received 7% excess rainfall: Secretary, Ministry of Earth Sciences: Secretary, Ministry of Earth Sciences, Dr. M Rajeevan has said that the country as a whole has so far received 7 percent excess rainfall. Addressing a virtual press conference in New Delhi today, Dr. Rajeevan said, the plentiful and spread of southwest monsoon this year should help farmers and the output must be very good. Director General of India Meteorological Department, IMD, Dr. Mrutyunjay Mohapatra said, the country is likely to see normal to above normal rainfall in September, though in the second week of September, monsoon rain is likely to be deficient in most parts of the country, including northwest and central India. However, it is likely to resume after September 17. The usual date for monsoon to begin withdrawing is September 17.

STATE NEWS

Tamil Nadu CM releases state’s Electronic Hardware Manufacturing Policy-2020: The Tamil Nadu Chief Minister Edappadi Palaniswamy released the state’s Electronic Hardware Manufacturing Policy-2020 today. A target is fixed in the new policy for the manufacturing of electronic goods worth 100-billion US Dollars by the year 2025. It envisages making the state contribute 25 percent of the country’s total electronic hardware export. It aims at attracting semiconductor fabrication units to the state. Providing a 30-percent capital subsidy, 50 percent grant for taking land on lease, 5-percent interest grant for term loans and a monthly financial aid for the first-time trainees in the sector for six months at the rate of Rs. 4,000 for men and Rs. 6,000 for women are some of the features in the new policy. Mobile phones, LED’s, fabless chips, printed circuit boards, solar photovoltaic cells and medical and automobile electronics are some of the areas that are being given focus in the new policy.

Karnataka Medical Education minister holds meeting with Covid 19 task force officials over Coronavirus reinfection cases: Karnataka Medical Education minister Dr. K Sudhakar held a meeting with Covid 19 task force officials today after a 27 year old woman in Bengaluru developed Coronavirus infection for the second time. He asked officials to conduct a clinical study about the Coronavirus reinfection cases. Expressing concern over the reinfection case, the minister asked the officials to submit a report on such cases if any in other states. He stressed the need to strengthen containment efforts at the booth level in the city.

Gujarat CM flags off COVID-19 Vijay Rath through video conferencing: Gujarat Chief Minister Vijay Rupani today flagged off COVID-19 Vijay Rath
through video conferencing. Covid19 Vijay Raths were flagged off from five
districts of the state simultaneously. Speaking on this occasion, Chief Minister Rupani said that these Raths will help create public awareness in
the fight against the Coronavirus. AIR correspondent reports, the Covid19
Vijay Raths have been flagged off from Ahmedabad, Surat, Junagadh, Kutch
and Banaskantha districts simultaneously. After covering the five districts, it will cover about 90 talukas in 33 districts of the state in the next 44 days.
This awareness campaign has been organized by Ahmedabad Press Information Bureau, Regional Outreach Bureau-ROB and UNICEF. Gujarat
Government is already providing health services to the people’s door step
through Dhanvantari Rath, Sanjivani Rath and 104 Helpline. Now, the Covid19 Vijay Rath will help to create mass awareness among the people to check the spread of Covid19 pandemic in the state.

INTERNATIONAL NEWS

300 protestors arrested in Hong Kong for opposing postponement of legislative elections & new national security law imposed by China: In Hong Kong, police arrested almost 300 persons on Sunday after demonstrators protested to oppose the postponement of legislative elections
and a new national security law imposed by China. In July this year, Hong
Kong leader Carrie Lam postponed the proposed September 6 elections in
the Asian financial hub’s Legislative Council for a year because of a spike in
coronavirus cases. As per local media reports, thousands of police personnel were stationed around the bustling Kowloon peninsula as hundreds of marchers waved placards and chanted popular anti government slogans such as “liberate Hong Kong”. These slogans are now banned under the new security law imposed by Beijing. Police said arrests were made, mainly for illegal gatherings. Hong Kong government has said this was necessary amid the coronavirus pandemic, but activists said the government was using the outbreak as a pretext to stop people from voting.

UK court rejects plea seeking partial reporting ban in fugitive diamantaire Nirav Modi case: In UK, a judge, presiding over fugitive diamantaire Nirav Modi’s extradition case over the estimated USD 2-billion PNB fraud and money laundering charges brought by India, rejected an application seeking a partial reporting ban at the start of a five-day trial today. District Judge Samuel Goozee dismissed the application after hearing representations in what he called a “high profile case in India”, including from members of the press present at Westminster Magistrates’ Court. Nirav Modi has made repeated attempts at bail over the past year, each of which were turned down as he is deemed a flight risk. He was arrested on March 19th last year on an extradition warrant executedbyScotlandYard.

Typhoon Haishen wreaks havoc in South Korea: A powerful typhoon damaged buildings, flooded roads and knocked out power to thousands of homes in South Korea today after battering islands in southern Japan and injuring dozens of people. The Korea Meteorological Administration said typhoon Haishen was passing waters off the eastern coastal city of Sokcho today after barrelling through South Korea’s southern and eastern regions. The typhoon was weakening, with its maximum winds measured at 108 kilometres per hour after blowing at 144 kilometres in the morning, and it was forecast to be downgraded to a tropical storm within 12 hours.

UNICEF to lead global procurement and supply of coronavirus vaccines: In what could possibly be the world’s largest and fastest ever operation of its kind, UNICEF has announced that it will be leading the procurement and supply of coronavirus vaccines to ensure that all countries have safe, fast and equitable access to initial doses when they are available. The United Nations Children’s Fund (UNICEF) is the world’s largest single vaccine buyer, procuring more than 2 billion doses of various vaccines annually for routine immunisation and outbreak response on behalf of nearly 100 countries. With several vaccine candidates showing promise, the UN agency, in collaboration with the Revolving Fund of the Pan American Health Organization (PAHO), will lead efforts to procure and supply doses of COVID-19 vaccines on behalf of the COVAX Global Vaccines Facility for 92 low and lower middle-income countries, whose vaccine purchases will be supported by the mechanism. UNICEF will undertake these efforts in close collaboration with the World Health Organization (WHO), Gavi the Vaccine Alliance, the Coalition for Epidemic Preparedness Innovations (CEPI), PAHO, the World Bank, the Bill and Melinda Gates Foundation, and other partners. The COVAX Facility is open to all countries to ensure that no country is left without access to a future COVID-19 vaccine.

More than 26 thousand participants from 149 countries to join virtual World Solar Technology Summit : World Solar Technology Summit (WSTS) will be organized by the International Solar Alliance (ISA), tomorrow afternoon. More than 26 thousand participants from 149 countries have registered to join the virtual Summit which is expected to bring the spotlight on accelerating affordable and sustainable clean green energy by showcasing and deliberating on innovative state of the art next generation technologies in solar power. President of the ISA Assembly and India’s Power and New & Renewable Energy Minister Mr. R. K. Singh and Ms Barbara Pompili, the Co- President of the ISA Assembly and Minister for Ecological Transition of France will be joined by the Vice Presidents of ISA from Africa, Asia Pacific and the Latin American and Caribbean Region during the inaugural address.

SCIENCE AND TECHNOLOGY

India successfully flight tests indigenous Hypersonic Technology Demonstrator Vehicle: In a historic mission today, India successfully flight tested Hypersonic Technology Demonstrator Vehicle (HSTDV). This is a giant leap in indigenous defence technologies and a significant milestone towards a Sashakt Bharat and Atmanirbhar Bharat. DRDO with this mission, has demonstrated capabilities for highly complex technology that will serve as the building block for Next Gen Hypersonic vehicles in partnership with industry. Chairman DRDO congratulated all the Scientists, Researchers and other personnel related with HSTDV mission for their resolute and unwavering efforts towards strengthening Nation’s defence capabilities.

IMPORTANT DAYS

1st International Day of Clean Air for blue skies being
commemorated today: The first International Day of Clean Air for blue skies is being commemorated around the world today, following the recognition by the United Nations General Assembly of the importance of clean air for the health and day-today lives of people. In a message, UN Secretary-General António Guterres highlighted the dangers posed by air pollution and urged greater efforts to address it. He said that air pollution contributes to heart disease, strokes, lung cancer and other respiratory diseases. It also threatens the economy, food security and the environment. He added that as the world recover from the coronavirus pandemic, more attention needs to be given to air pollution, which also increases the risks associated with COVID-19.

BUSINESS AND FINANCE

RBI to conduct simultaneous purchase & sale of govt
securities under OMO for Rs 10,000 crore each on Sept
10: The Reserve Bank of India (RBI) will conduct simultaneous purchase and sale of government securities under the Open Market Operation (OMO) for Rs 10,000 crore each on September 10. The central bank today said it would be selling three securities totalling Rs 10,000 crore and also purchasing equal number of securities of the same amount. The result of the auctions will be announced on the same day. According to RBI statement, the second tranche of auction would be conducted on September 17. Simultaneous purchase and sale of government securities under OMOs, popularly known as Operation Twist, involves purchasing G-Sec of longer maturities and selling equal amount of G-Sec of shorter maturities.

OBITUARY

Liberation war fighter Ziauddin Tariq Ali passes away in
Dhaka: Liberation war fighter and a prominent public figure of Bangladesh Ziauddin Tariq Ali passed away in Dhaka on Monday. He was admitted to a specialised hospital in Dhaka after getting infected with Corona two weeks back. He was a member of the cultural group ‘Muktir Gaan’, that inspired the freedom fighters through their songs during the Liberation War in 1971. Condoling the death of Tariq Ali, the Liberation War Affairs Minister of Bangladesh AQM Mozammel Haque praised his role in setting up the Liberation War Museum. He said Tariq Ali worked tirelessly to spread the spirit of liberation war among the new generation. Prime Minister Sheikh Hasina also expressed deep shock and sorrow at the death of Ziauddin Tariq Ali.

SPORTS

BCCI announces schedule for IPL 2020 to be held in
UAE: BCCI has announced the schedule for IPL 2020 to be held in UAE. The
season will kickstart on 19th September in Abu Dhabi with a blockbuster
clash between defending champions Mumbai Indians and Chennai Super
Kings. The action will shift to Dubai for the second game where Delhi Capitals will face Kings XI Punjab September 20. SunRisers Hyderabad and
Royal Challengers Bangalore will also compete in Dubai on September 21,
while Rajasthan Royals will host the three-time IPL champions CSK in
Sharjah on September 22. The evening matches of the tournament, which
will be played in the United Arab Emirates, will start at 7:30 PM Indian time.
There will be 10 double-headers, and the afternoon matches will begin at
3:30 PM. Dubai will host 24 games, 20 matches will be played in Abu Dhabi
while the remaining 12 matches are scheduled to be played in Sharjah. The
final of the tournament will be played on November 10. Venues for the playoff and the final are yet to be announced.

World No. 1 Novak Djokovic disqualified from US Open
after striking line judge with ball: World No. 1 Novak Djokovic was sensationally disqualified from the US Open after striking a line judge with a ball during his fourth-round match yesterday. This marked a stunning end to his 29-match winning streak and bid for an 18th Grand Slam title. Novak Djokovic went 5-6 down in the first set to Spain’s Pablo Carreno Busta when he hit a ball in the direction of the female official. It struck her in the throat and she could be heard gasping. Djokovic rushed over to check that she was okay and after a few minutes she got up and walked off the court. Following discussions with the tournament referee, the umpire declared that Carreno Busta had won by default. Djokovic shook hands with Carreno Busta before leaving the court. Djokovic left the tournament grounds without speaking to the media. His departure means there is no male player left in the field who has won a Grand Slam singles title. Whoever emerges as champion will be the first first-time major trophy winner in men’s tennis since 2014, when Marin Cilic won the US Open.

Thanks for reading “Current and corporate news : 8 september 2020“

Compiled By : CS Surbhi Saxena

You can also submit article by sending to taxconcept4@gmail.com

CURRENT AND CORPORATE NEWS : 7 SEPTEMBER 2020

Current and corporate news : 7 september 2020

COVID-19 NEWS

Karnataka minister Shivarama Hebbar tests COVID positive: Karnataka labour and sugar minister A Shivarama Hebbar and his wife were tested COVID positive yesterday. In a tweet he said that they underwent COVID test and were declared positive. As there is no symptom, they are under Home Isolation. Prior to him, Chief Minister B S Yediyurappa, the leader of the Opposition Siddaramaiah, Health minister Sriramulu, the Congress state President D K Shivakumar, Tourism minister C T Ravi, forest minister Anand Singh, Agriculture minister B C Patil were among those infected with Covid 19 virus in the state. The state reported 9319 new Covid cases today and 95 deaths. At the same time 9575 people were discharged after being cured of the viral infection. The state conducted 74384 tests for detecting the Coronavirus. Bengaluru urban is leading the index with 2824 new cases and 38 deaths today

NATIONAL NEWS

Defence Minister Rajnath Singh holds bilateral talks with his Iranian counterpart Brigadier General Amir Hatami in Tehran: Defence Minister Rajnath Singh held a bilateral meeting with his Iranian counterpart Brigadier General Amir Hatami last evening. Mr Singh was on a transit halt in Tehran enroute from Moscow to New Delhi. The meeting between the two Ministers took place in a cordial and warm atmosphere.
Both the leaders emphasized upon the age-old cultural, linguistic and
civilizational ties between India and Iran. They discussed ways to take forward bilateral cooperation and exchanged views on regional security issues, including peace and stability in Afghanistan.

Metro services to resume from tomorrow in graded manner in Delhi, Chennai, Bengaluru, Ahmedabad, Hyderabad & Lucknow: Metro services will resume from tomorrow in a graded manner in Delhi, Chennai, Bengaluru, Ahmedabad, Hyderabad and Lucknow. Passengers will have to follow preventive measures against COVID-19 by maintaining social distancing and wearing face mask. In the first stage, Delhi Metro services will operate in two shifts 7 AM to 11 AM and 4 PM to 8 PM. Normal operations will start from the 12th of this month. Metro Stations and entry-exit gates in containment zones will be closed. Only asymptomatic persons will be allowed to travel after thermal screening at entry into the stations. Sanitizers will be made available at entry points of stations for use by
passengers. Lucknow Metro is also all set to resume operations from tomorrow with state of the art facilities for the safest travel experience. Lucknow Metro has laid special emphasis on contactless travel, sanitization, social distancing, hygiene and cleanliness. Various rigorous steps have been undertaken to ensure a smooth, safe, secure and convenient commuting experience to the passengers. MD, UPMRC, Kumar Keshav has said that Lucknow metro will resume its services at full capacity. He said Metro trains and station premises will be sanitized at regular intervals to ensure maximum safety to passengers. AIR correspondent reports that, tokens and smart cards both will be functional for commuting. For the first time in the country and in the metro sector, Lucknow Metro will sanitize tokens using UV rays to provide utmost safety to the commuters. There will be Social distancing markings and signage at all stations to ensure adequate gap among passengers while queuing up near Ticket Counters, Ticket Vending Machines and security check frisking points. Social distancing marking has been done on alternate seats to maintain sufficient gap between passengers inside the train. Lucknow Metro will operate with normal timings as earlier from tomorrow that 6 am to 10 pm and 16 trains will run with an interval of 5 mins 30 secs. The trains will stop at every station and masks will be mandatory which will be provided in case any passenger forgets to bring it along with him. Normally 2 gates will be functional normally at every metro station with no separate gates for entry and exit. It will be mandatory to sanitize hands and sanitizers will be available at every gate.

President, PM to address inaugural session of Governors’ Conference on National Education Policy tomorrow: President Ram Nath Kovind and Prime Minister Narendra Modi will address the inaugural session of the Governors’ Conference on National Education Policy through video conference tomorrow. The Conference titled “Role of NEP-2020 in Transforming Higher Education” is being organized by the Ministry of Education. NEP-2020 is the first education policy of the 21st century which was announced after 34 years of the previous National Policy on Education 1986. NEP-2020 is directed towards major reforms in both school and higher education level. The new National Education Policy strives for making India into an equitable and vibrant knowledge society. It envisions an India-centred education system that contributes directly to transforming India into a Global Superpower.

3rd Rashtriya Poshan Maah being celebrated this month to address malnutrition among young children and women: The 3rd Rashtriya Poshan Maah is being celebrated this month to address malnutrition among young children and women. The objective of the Poshan Maah is to encourage Jan Bhagidaari to ensure health and nutrition for everyone. Women and Child Development Ministry said the Poshan Maah is celebrated every year under POSHAN Abhiyaan, which was launched in 2018 Considering the prevalent COVID situation in the Country, the Ministry
is encouraging all stakeholders to use digital platforms for celebrating Poshan Maah. The importance of nutrition was recently emphasized by
Prime Minister Narendra Modi in the 68th edition of his Mann ki Baat
programme on All India Radio on 30th of last month. The Prime Minister drew attention towards the role played by nutrition in helping children and students to attain their optimum potential. He also noted the efforts made during the past few years especially in villages where public participation in nutrition week and nutrition month is converting nutrition awareness into a mass movement.

Govt announces 3rd phase of ‘Back to Village’ programme from October 2 to 12 in J&K: In the Union Territory of Jammu and Kashmir, the government announced the third phase of ambitious Back to Village (B2V) programme from October 2 to 12, this year. The announcement was made by Principal Secretary, Power Development and Information Departments, Rohit Kansal who is also government spokesperson, at a press conference in Srinagar yesterday. Terming the first two phases of Back to Village (B2V) as huge success, Mr Kansal said it is a unique programme which received tremendous respect from the people when 4000 Gazetted Officers from J&K administration visited each and every Panchayat of J&K. The Phase-I of B2V was an introductory and interactive programme to understand the people’s
grievances and demands. While Phase-II focused on the devolution of
powers to panchayats and tried to understand how these panchayats are functioning and what are the grievances and demands,” he said and added
“the Phase-III has been designed on the format for grievance redressal.” He
said that next month will be a festival of public grievance redressal, festival
of public service delivery and festival of delivery of development at gram
Panchayat level.

STATE NEWS

Chaudhary Charan Singh Haryana Agricultural University conducts entrance exam for various PG courses: Chaudhary Charan Singh Haryana Agricultural University, Hisar today conducted the entrance exam for various Post Graduate courses following the protocol for Covid19. A total of 3448 students had applied online for these examinations. The University will be conducting examinations in four phases. The first phase started from today. As many as 601 candidates appeared for the entrance examination, while 300 candidates remained absent.

SCIENCE AND TECHNOLOGY

Chandrayaan-3 launch likely in early 2021: Dr. Jitendra Singh: Minister of State for Space Dr Jitendra Singh said that the launch of Chandrayaan-3 may now take place somewhere in early 2021. Chandrayaan-3 will be a mission repeat of Chandrayaan-2 and will include a Lander and Rover similar to that of Chandrayaan-2, but will not have an orbiter. Dr Singh also said that meanwhile, preparations are on for India’s first ever Human Space Mission Gaganyaan. He said, constraints due to Covid pandemic led to some disruptions in the plan for Gaganyaan but efforts are going on to stick to the timeline of around 2022.

OBITUARY

Vice President Venkaiah Naidu condoles death of Edaneer mutt seer Kesavananda Bharati: Vice President M Venkaiah Naidu has condoled the death of Edaneer mutt seer Kesavananda Bharati, describing him as a rare blend of philosopher, classical singer and a cultural icon. In a tweet, Mr Naidu said, his patronage of Yakshagana was crucial in reviving this traditional theatre form in Karnataka. Mr Naidu said, he is best known for his role in the landmark Supreme Court judgement which held that the basic structure of the Constitution cannot be altered. The 79-year-old seer died at the mutt in Kerala’s Kasaragod due to age-related ailments.

SPORTS

T20 cricket tournament inaugurated at Kungamdora Pattan in J&K: In a significant move to resume different sports activities that were halted due to the outbreak of COVID-19 pandemic, Deputy Commissioner Baramulla Dr G N Itoo in presence of District Youth Services and Sports Officer inaugurated T20 cricket tournament at Kungamdora Pattan today with strict adherence of SOPs and guidelines. While reiterating the administration’s commitment towards development of sports and requisite
infrastructure, DC said that various initiatives are being taken in this regard. The DC distributed various sports items among the teams. He also said that during ‘Back to Village- Phase 3’, special focus will be given to redressal of issues and grievances of the youth.

Indo-Canadian pair of Rohan Bopanna and Denis Shapovalov advance to men’s doubles quarterfinals in US open: In US open tennis, Indo-Canadian pair of Rohan Bopanna and Denis Shapovalov beat German pair Kevin Krawietz and Andreas Mies to reach men’s doubles quarterfinals in New York. Bopanna is the lone surviving Indian in the tournament after the exits of Sumit Nagal and Divij Sharan. In Women’s singles, Serena Williams came back from a slow start to beat Sloane Stephens 2-6, 6-2, 6-2 in the US Open’s third round. She will face No. 15 Maria Sakkari of Greece in the fourth round.

Sports Ministry extends contract of athletics foreign coaches with eye on 2024 Olympics: The Sports Ministry has extended the contract of 9 foreign coaches and support personnel, including High Performance Director of athletics with an eye on the 2024 Olympics, Commonwealth Games and Asian Games 2022. In July this year, the Sports Ministry had decided to draw up extended contracts for foreign and Indian coaches in sync with the Olympic cycle. This decision was taken by the Ministry with a focus on the 2024 and 2028 Olympics, and to ensure Olympic-bound athletes are able to train consistently and in continuity with one coach and improve their performance as per the international standards.

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CURRENT AND CORPORATE NEWS : 5 SEPTEMBER 2020

Current anc corporate news : 5 september 2020

NATIONAL NEWS

11th INDRA NAVY: Bilateral maritime exercise between Indian and Russian Navy to begin tomorrow: The 11th edition of exercise INDRA NAVY, a biennial bilateral maritime exercise between Indian and Russian Navy will begin in the Bay of Bengal from tomorrow. Initiated in 2003, Exercise INDRA NAVY epitomises the longterm strategic relationship between the two Navies. Whilst the two-day exercise is being undertaken in the Bay of Bengal, Defence Minister Rajnath Singh, is on a visit to Moscow on the invitation of Defence Minister of the Russian Federation General Sergei Shoigu to discuss bilateral cooperation and issues of mutual interest and commemoration of the 75th Anniversary of Victory in World War-II. This exercise has matured over the years with increase in scope, complexity of operations, and level of participation. The primary aim of exercise INDRA NAVY-20 is to further consolidate interoperability built up by the two Navies over the years and also to enhance understanding and procedures for multi-faceted maritime operations. The scope of this edition includes wide-ranging and diverse activities across the spectrum of maritime operations. Due to restrictions imposed by the COVID19 pandemic, INDRA NAVY-20 would be undertaken in a ‘non-contact, at sea only’ format.

Tribal Affairs Ministry signs agreement with IIPA for setting up of National Institute of Tribal Research: Tribal Affairs Ministry today signed an agreement with Indian Institute of Public Administration, IIPA for setting up of National Institute of Tribal Research at the IIPA campus, New Delhi. The proposed National Institute will be functional in a few months and will be engaged in quality tribal research in collaboration with reputed government and non-governments NGOs spread over the country. The agreement was signed in the presence ofTribalAffairsMinisterArjunMunda.

Rajnath Singh to represent India at Shanghai Cooperation Organisation meeting in Moscow: Defence Minister Rajnath Singh, who is on a three-day visit to Russia, today visited the Main Cathedral of the Armed Forces of the Russian Federation and the Museum Complex in Moscow. Yesterday, Mr Singh had a meeting with Russian Defence Minister, Gen. Sergei Shoigu, at the Russian Ministry of Defence. The Defence Minister will attend the combined meeting of Defence Ministers of Shanghai Cooperation Organization, SCO, Collective Security Treaty Organization, CSTO and Commonwealth of Independent States, CIS Member States in commemoration of the 75th Anniversary of victory in the World War-II.

SC rejects 1984 riots convict Sajjan Kumar’s plea seeking interim bail: The Supreme Court today dismissed the plea of former Congress leader Sajjan Kumar, who is serving life imprisonment in an 1984 anti-Sikh riots case, seeking interim bail on health grounds. A bench headed by Chief Justice S. A. Bobde said, it will hear him finally someday but cannot grant
him bail. It further added, it is not treating the judgement (of the Delhi High
Court which convicted and sentenced Kumar in the case) as faulty merely
because it has reversed earlier verdict. Kumar is serving life imprisonment
after the Delhi High Court had convicted him and others in the case on December 17, 2018.

Media must exercise restraint in its coverage of Sushant Singh Rajput case: Bombay HC: The Bombay High Court has said that it expects media organisations to exercise restraint while publishing or reporting any details about the investigation in the case of actor Sushant Singh Rajput’s death. A division bench of Justices A A Sayed and S P Tavade said, the media should report in such a manner that it does not hamper the investigation. The court was hearing two petitions which claimed a media trial is going on in the case and sought for it to be stopped.

G-20 Meet: India calls for protecting interests of foreign students, facilitating return of stranded seafarers: India has called upon Governments around the world to ensure that interests of foreign students are protected and movement of stranded seafarers back to their home country facilitated. Participating in the G20 Foreign Ministers’ Extraordinary virtual Meeting, External Affairs Minister Dr. S. Jaishankar also proposed development of voluntary ‘G20 Principles on Coordinated Cross – Border Movement of People’ in the backdrop of Covid-19. These principles are based on three elements. Standardisation of testing procedures and universal acceptability of test results, Standardisation of ‘Quarantine procedures’ and Standardisation of ‘movement and transit’ protocols.

STATE NEWS

BJP Leader Syed Zafar Islam elected unopposed for Rajya Sabha seat from UP: Bharatiya Janata Party Leader Syed Zafar Islam has been elected
unopposed for the lone Rajya Sabha seat from Uttar Pradesh today. The
election was necessitated following the demise of Rajya Sabha MP Amar
Singh. Chief Minister Yogi Adityanath congratulated Syed Zafar Islam for
his unopposed election. Earlier party’s UP unit general secretary Govind
Narayan Shukla withdrew his candidature for by-elections yesterday,
clearing the way for the original nominee Syed Zafar Islam to be elected to
contest unopposed. Zafar couldn’t come for the nomination as he was
found covid positive. Today was the last date for the withdrawal of
nominations and only Zafar was left in the fray so the election process
could not be stretched till September 11, the date for polling. Zafar Islam
would serve the remainder of Amar Singh’s term till July 4, 2022.

INTERNATIONAL NEWS

Bangladesh govt extends suspension of jail term of former PM Khaleda Zia for 6 months: Government of Bangladesh has suspended the jail sentence of former Prime Minister Khaleda Zia for six more months on health grounds. Announcing this in Dhaka on Saturday, Road Transport and Bridges Minister and Awami League General Secretary Obaidul Quader said that the decision has been taken so that the 75 year old leader can receive necessary medical treatment, reports the official news agency BSS. Former Prime Minister and leader of the main opposition Bangladesh Nationalist Party (BNP) Khaleda Zia was released on March 25 for six months after suspending her sentence for six months on health grounds. Before her release in March this year, BNP Chairperson Khaleda Zia was serving jail sentence since February 2018 after the court sentenced her to five years imprisonment in 2017 in connection with the Zia Orphanage Trust graft case. The High Court enhanced her imprisonment to 10 years in 2018.

BUSINESS AND FINANCE

RBI reviews PSL guidelines to align it with emerging national priorities for inclusive development: The Reserve Bank of India has comprehensively reviewed the Priority Sector Lending (PSL) guidelines to align it with emerging national priorities and bring sharper focus on inclusive development, after having wide ranging discussions with all stakeholders. The revised PSL guidelines will enable better credit penetration to credit deficient areas; increase the lending to small and marginal farmers and weaker sections; boost credit to renewable
energy and health infrastructure, bank finance to start-ups (up to 50 crore
rupees); loans to farmers for installation of solar power plants for solarisation of grid connected agriculture pumps and loans for setting up Compressed Bio Gas (CBG) plants have been included as fresh categories eligible for finance under priority sector. Some of the salient features of revised these guidelines are, to address regional disparities in the flow of priority sector credit, higher weightage have been assigned to incremental priority sec tor credit in ‘identified districts’ where priority sector credit flow is comparatively low.

SPORTS NEWS

US Open Tennis Tournament: Serena Williams wins in straight sets yet again: In the US Open tennis tournament, Serena Williams won in straight sets again. She moved into an all-American showdown against Sloane Stephens. Other women moving into the third round included No. 2 Sofia Kenin, who won the Australian Open in February; No 7 Madison Keys, No. 15 Maria Sakkari, No. 18 Donna Vekic and No. 22 Amanda Anisimova, a teenager American who beat another fellow teen Kristina Scott.

Tennis: Sumit Nagal exits US Open after losing to Dominic Thiem: In Tennis, India’s Sumit Nagal exited the US Open after suffering defeat at the hands of World Number three Dominic Thiem. The world number 122, Nagal lost to second seed Austrian, in straight sets 3-6 3-6 2-6 in the second
round. Nagal came into the match after defeating Bradley Klahn of USA 6-1,
6-3, 3-6, 6-1 in the first round. With the win, the 23-year-old became the first
Indian to win a singles main draw match at a Grand Slam in the last seven years.

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CURRENT AND CORPORATE NEWS : 4 SEPTEMBER 2020

Current and corporate news : 4 september 2020

NATIONAL NEWS

New Delhi strongly urges Beijing to sincerely engage with Indian side for expeditiously restoring peace in border areas: New Delhi has strongly urged China to sincerely engage with Indian side for expeditiously restoring peace in border areas through complete disengagement and de-escalation. Briefing media, External Affairs Ministry spokesperson Anurag Srivastava said the way ahead is negotiations, both through the diplomatic and military channels. He stated that the Indian side is firmly committed to resolving all outstanding issues through peaceful dialogue.

Sikkim & Delhi paired for cultural exchanges under Ek Bharat Shrestha Bharat programme: The Ek Bharat Shrestha Bharat programme aims to actively enhance interaction between people of diverse cultures living in different States and Union Territories in India, with the objective of promoting greater mutual understanding amongst them. Under this, Sikkim and Delhi have been paired forculturalexchanges.

Govt launches eight immunity boosting products under PMBJP for sale through Janaushadhi Kendras: Chemicals and Fertilizers Minister D V Sadananda Gowda today launched eight immunity boosting products under Pradhan Mantri Bhartiya Janaushadhi Priyojana for sale through Janaushadhi Kendras across country. Speaking on the occasion, Mr Gowda informed that the launch of new nutraceuticals is significant in view of the Corona-19 pandemic. These products will help in boosting immunity of the people. He said that products are comparable in quality and are cheaper by over 26 per cent than the market price. The Minister hoped that through the massive network of Janaushadhi Kendras, the immunity boosting- protein products will reach a large population promoting good health.

STATE NEWS

Sonamura – Daukandi inland waterways route set to become operational soon: The Sonamura – Daukandi inland waterways route connecting Tripura to Bangladesh is set to become operational soon. Briefing media, External Affairs Ministry spokesperson Anurag Srivastava said the route connects Tripura to the National Waterways of India through Bangladesh for the first time. A trial run has commenced from Daukandi and would conclude at Sonamura on the 5th of September in the presence of Chief Minister of Tripura. Mr Srivastava said this is another recent connectivity initiative with Bangladesh and will greatly boost connectivity with north East region and bilateral trade with Bangladesh. He said enhanced connectivity through waterways particularly in COVID 19 scenario is significant because it provides for economical, faster, safer and cleaner mode of transportation for traders and business communities from both sides.

INTERNATIONAL NEWS

WHO issues new treatment guidance, recommending steroids to treat critically ill COVID patients: International clinical trials published yesterday confirmed the hope that cheap, widely available steroid drugs can help seriously ill patients survive Covid-19. Based on the new evidence, the World Health Organization issued new treatment guidance, strongly recommending steroids to treat severely and critically ill patients, but not to those with mild disease. An analysis of pooled results from seven studies, led by a group from the World Health Organization, found that steroids reduced the risk of death in the first month by about one-third compared with placebo treatment or usual care alone in these seriously ill patients who needed extra oxygen. The findings were published today in the Journal of the American Medical Association, JAMA. The study concluded that each of the three drugs reduced the risk of death. JAMA published that paper and the related studies, along with an editorial describing the research as an important step forward in the treatment of patients with Covid-19. The authors said, Corticosteroids should now be the first-line treatment for critically ill patients.

BUSINESS AND FINANCE

Atmanirbhar Bharat: IIT Delhi incubated startup launches ‘‘Chakr DeCoV’’ to decontaminate N95 masks: IIT Delhi incubated startup Chakr Innovation has launched ‘Chakr DeCoV’ to decontaminate N95 masks. Designed in the shape of a cabinet, Chakr DeCoV is built with an innovative decontamination mechanism, which utilises the high penetrability of Ozone gas for cleaning the pores of the N95 mask, ensuring complete decontamination of its intricate layers. Ozone is a strong oxidizing agent that destroys viruses by diffusing through the protein coat, resulting in damage to the viral RNA. Proper dosage and exposure of Ozone can result in inactivation of SARS CoV-2 and a 99.9999 per cent reduction in bacterial load, after which an N95 mask can be reused for up to 10 times without any impact on the filtration efficiency.

SPORTS NEWS

World Cup host Qatar set to play in Gold Cup next year in US: World Cup host Qatar is set to play in the Gold Cup next year in the United States after accepting an invitation from soccer’s governing body for North and Central America and the Caribbean. The Asian Football Confederation issued a statement today saying the Asian Cup champion will participate in
the 2021 and 2023 Gold Cup tournaments as a guest under a memorandum of understanding signed in Bahrain in 2017.

US Open men’s doubles: Divij Sharan, his Serbian partner Nikola Cacic loses to Mektic, Koolhof: India’s Divij Sharan and his Serbian partner Nikola Cacic fought hard before going down in three sets to eighth seeds Nikola Mektic and Wesley Koolhof in the first round of the US Open men’s doubles event in NewYork. Sharan and Cacic lost 4-6 6-3 3-6 against Croatia’s Mektic and Koolhof of the Netherlands in a tough contest that lasted one hour and 46 minutes yesterday. The winners will next play Italy’s Simone Bolelli and Maximo Gonzalez of Argentina. The other Indian in the men’s doubles draw — Rohan Bopanna — and his Canadian partner Denis Shapovalov will take on Ernesto Escobedo and Noah Rubin of the United States in the first round.

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CURRENT AND CORPORATE AFFAIRS : 3 SEPTEMBER 2020

Current and corporate affairs as on 03 september 2020

NATIONAL NEWS

India ranks in top 50 countries for 1st time in Global Innovation Index: India ranked in the top 50 countries for the first time in the Global Innovation Index, which was released today. India jumped four positions to rank at 48th since 2019. The index compiled by World Intellectual Property Index (WIPO) presented the latest global trends and annual innovation ranking for 131 countries. Moving up four positions since last year, India became the third most innovative lower middle economy in the world. According to the report jump can be attributed to newly available indicators and improvements in various areas of the GII. India ranks in the top 15 in indicators such as ICT services exports, government online services, graduates in science and engineering and R&D-intensive global companies. The report added that due to universities like IIT Delhi and Bombay, IIS Bengaluru and other top scientific publications, India is the lower middle-income economy with the highest innovation.

Cabinet approves introduction of J&K Official Languages Bill 2020 in Parliament: The Cabinet chaired by the Prime Minister has approved the introduction in Parliament of the Jammu and Kashmir Official Languages Bill 2020 in which five languages will be official languages. These are Urdu, Kashmiri, Dogri, Hindi and English. Briefing the media, Union Minister Dr Jitendra Singh said inclusion of Dogri, Hindi and Kashmiri as official languages in Jammu and Kashmir is not only a fulfillment of a long-pending public demand but is also in keeping with the spirit of equality.

Cabinet approves ‘Mission Karmayogi’, National Prog. for Civil Services Capacity Building; PM says, it will radically improve HRM practices in Govt.: Cabinet today gave its nod to ‘Mission Karmayogi’ – National Programme for Civil Services Capacity Building. The scheme will lay the foundation for capacity building for Civil Servants so they remain entrenched in Indian culture while they learn from best practices across the world. ‘Mission Karmayogi’ aims to prepare the Indian Civil Servants for the future by making them more creative, constructive, imaginative, innovative, proactive, professional, progressive, energetic, enabling, transparent and technologyenabled. Briefing the media this afternoon, Union Minister Prakash Javadekar said, the Karmayogi scheme will be the biggest Human Resource development programme of the government. The institutional framework will consist of Prime Minister’s Public Human Resources (HR) Council, Capacity Building Commission, Special Purpose Vehicle for owning and operating the digital assets and the technological platform for online training and Coordination Unit headed by the Cabinet Secretary.

Centre blocks 118 mobile apps including PUBG to ensure safety, security and sovereignty of Indian cyberspace: Government has blocked 118 Mobile Apps including PUBG which are prejudicial to sovereignty and integrity of India, Defence of India, Security of State and Public Order. The move will safeguard the interests of crores of Indian mobile and internet users. This decision is a targeted move to ensure safety, security and sovereignty of Indian cyberspace. PUBG MOBILE Nordic Map: Livik, PUBG MOBILE LITE, WeChat Work, WeChat reading, Cyber Hunter, LifeAfter and Warpath are among the 118 banned mobile apps. The decision to ban such Apps was taken by the Ministry of Electronics and Information Technology as it has received many complaints from various sources including several reports about misuse of some mobile apps available on Android and iOS platforms for stealing and surreptitiously transmitting users’ data in an unauthorized manner to servers which have locations outside India.

Govt. says, all calendars, diaries and similar materials to be digital now: Government today said that all calendars, diaries and similar other
materials, which were earlier printed in physical format, will now be done digitally. All Ministries, Departments, Public Sector Undertakings and all other organs of the government have to adopt innovative means to use digital or online methods. The Finance Ministry said, Publication of Coffee Table books will also be stopped and appropriate use of E-Books will be
encouraged. There is to be no activity towards printing wall calendars,
desktop calendars, diaries and other such material for use in the coming year by any Ministries and Departments. The Ministry said, using
technological innovations for planning, scheduling and forecasting is well known to be economical, efficient and effective.

Cabinet approves signing of MoU between India and Japan for improving quality of Indian textiles for Japanese market: Cabinet has approved the signing of a Memorandum of Understanding between India and Japan for improving quality and testing of Indian textiles and clothing for the Japanese market. The MoU would enable M/s Nissenken Quality Evaluation Centre, Japan in assigning Textile Committee as their cooperative Testing and Inspection service providers in India for Textiles and Apparel products. Government has also approved an MoU between India and Finland for cooperation in the field of Geology and Mineral Resources. The MoU facilitates cooperation in the field of geology, training, mineral prognostication and suitability analysis with the intent of reinforcing and strengthening scientific links.

Question Hour, Private Members’ Bills will not be taken up in upcoming Monsoon Session of Parliament: Question Hour and Private Members’ Bills will not be taken up in the upcoming Monsoon Session of Parliament. The Zero Hour will be restricted. Notifications issued by Lok Sabha and Rajya Sabha Secretariats said, there will also be no breaks during the session, which will be held from 14th September to 1st October. Both the houses will function on Saturdays and Sundays as well. In view of the COVID-19 pandemic, the session will be held in two shifts — 9 A.M. to 1 P.M. and 3 P.M. to 7 P.M. Except for the first day, the Rajya Sabha will sit in the morning shift and the Lok Sabha will sit in the evening.

STATE NEWS

Goa CM Pramod Sawant tested COVID- 19 positive: In Goa, Chief Minister Dr Pramod Sawant has tested COVID- 19 positive. He tweeted this saying he has opted for home isolation and is asymptomatic. Dr Sawant further added that he will discharge his duties working from home. The Chief Minister has advised, those, who came in contact with him to take the necessary precautions. Meanwhile, Chief Minister’s Office has clarified that appointments and meetings scheduled earlier stand suspended till further notice.

INTERNATIONAL NEWS

Google partners with Bangladesh for flood forecasting: Google has partnered with Bangladesh Water Development Board to bring the flood warning services to the country. Announcing this on its official blog on Tuesday Google said that it currently covers more than 40 million people
in Bangladesh and it is working to expand its coverage to the whole of the
country. Quoting a study conducted in collaboration with Yale, it said that
more than 65 per cent of people who receive advance flood warnings take
action to protect themselves and their assets. It said Google is working to
launch a new forecasting model to double the lead time so that people have
an extra day or so to prepare in case of impending floods. It said that is
available in Hindi, Bengali and seven other local languages. The company
is also partnering with the International Federation of Red Cross and Red Crescent Societies to build to deliver a l e r t s to people who don’t have
smart phones to receive the a l e r t s directly. The company uses Artificial
Intelligence (AI) to analyse historical data to predict flood in the river basins. Google launched its flood forecasting pilot programme in Patna in 2018.

BUSINESS AND FINANCE

Indian Bank announces cut of 5 basis points in MCLR for one-year tenure: State-owned lender Indian Bank has announced a cut of 5 basis points in its marginal cost of funds based lending rate (MCLR) for one-year tenure. The bank has decided to reduce the MCLR for one-year tenure by 5 basis points to 7.30 per cent effective from September 3, 2020, Indian Bank said in a regulatory filing. All new retail loans (housing, education, vehicle),
credit to MSMEs are linked to RLLR now. On Monday, the country’s second
largest lender Punjab National Bank (PNB) had raised its RLLR by 15 basis points to 6.80 per cent, making loans costlier for new borrowers.

SPORTS NEWS

Sumit Nagal becomes 1st Indian to win grand slamsingles main draw match in 7 years: Sumit Nagal stormed into the second round of the ongoing US Open Tennis last night. Nagal defeated Bradley Klahn of USA 6-1, 6-3, 3-6, 6-1 in the first round of the US Open to progress further into the tournament. With this result, the 23-year-old Nagal has become the first Indian to win a singles main draw match at a Grand Slam in the last seven years. In 2013, Somdev Devvarman had reached the second round of the Australian Open, French Open and US Open. Nagal, who is the world number 122, will now face second seeded Austria’s Dominic Thiem in the second round of the tournament.

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CURRENT AND CORPORATE AFFAIRS : 02 SEPTEMBER 2020

Current and corporate affairs as on 02 september 2020

COVID-19 NEWS

India to receive development assistance loan worth Rs3,500 Cr from Japan to fight COVID-19: Japan has committed an official Development Assistance loan of 3 thousand500 crore rupees for the COVID-19 Crisis Emergency Response Support.The Notes were exchanged between the Additional Secretary in theDepartment of Economic Affairs Dr C.S. Mohapatra and Ambassador ofJapan to India Suzuki Satoshi for a Health sector programme loan to fight the COVID-19 crisis. Subsequent to the Exchange of Notes, Loan Agreementfor the programme loan was signed between Dr Mohapatra and Chief Representative of JICA in New Delhi Katsuo Matsumoto. Japan InternationalCooperation Agency, JICA is a governmental agency that coordinates Official Development Assistance for the Government of Japan. This programme loan aims to support India’s efforts in fighting COVID-19 and to prepare the health system to manage future epidemics and also to improve the resilience of India’s health systems against infectious diseases.

NATIONAL NEWS

Union Minister Piyush Goyal addresses US-India Strategic Partnership Forum through virtual conference: Commerce and Industry Minister Piyush Goyal has invited the US business and industry to work with their Indian counterparts to take the bilateral trade to greater heights. Addressing the US-India Strategic Partnership Forum through a virtual conference today, Mr Goyal said the two democracies share deep commitment with each other, at the Government, Business and people to people levels. He said both countries believe in free and fair trade, and the US is India’s largest trading partner. Mr Goyal expressed confidence that the two nations can be the resilient trusted partners in the global value chain.

Vice Admiral S R Sarma assumes charge as Chief of Materiel of the Indian Navy : Vice Admiral S R Sarma today assumed charge as the Chief of Materiel of the Indian Navy. Admiral Sarma during his illustrious career spanning over three and a half decades has served onboard Indian Naval ships Vindhyagiri, Rana, Krishna and Mysore in various capacities

Dept. of Fertilizers to observe Swachhta Pakhwada from 1st to 15th September: The Department of Fertilizers is observing Swachhta Pakhwada from 1st to 15th September. All Public Sector Undertakings and other Organisations under the Department are participating in the Swachhta Abhiyan. Chemicals and Fertilizers Minister D V Sadananda Gowda said that Swachhta Pakhwada has gained even greater importance this year in view of the outbreak of COVID-19 pandemic. He said that the efforts of the entire fertilizer industry, dealers and traders will yield visible positive results in the country’ sendeavour for cleanliness.

Rajeev Kumar assumes charge as new Election Commissioner of India: Mr Rajeev Kumar today assumed charge as the new Election Commissioner of the country. A 1984 batch IAS officer, Mr Kumar retired as the Finance Secretary. Mr Kumar joins the Election Commission of India with Chief Election Commissioner Sunil Arora and Election Commissioner Sushil Chandra.

SPORTS NEWS

Karolina Pliskova advances in straight sets at U.S. Open: Top-seeded Karolina Pliskova has advanced in straight sets at the U.S. Open. Pliskova surged ahead of Anhelina Kalinina 4-1 in the opening set, lost three games in a row, then took the last eight for a 6-4, 6-0 victory. Pliskova is ranked third in the world but has the top seed in New York. Pliskova, who has won 16 WTA titles, next faces unseeded Caroline Garcia of France. The match took place on an eerily quiet court and tournament organizers played crowd noise to offer a taste of normality in between games and after particularly strong plays

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CURRENT AND CORPORATE AFFAIRS : 1 SEPTEMBER 2020

Current and corporate affairs as on 01 september 2020

NATIONAL NEWS

Chief Economic Advisor K V Subramanian says, AprilJune GDP contraction happened mainly due to COVID pandemic: Chief Economic Advisor K V Subramanian has said April – June GDP contraction is mainly due to exogenous shock felt globally due to COVID pandemic. He said it is along expected lines and better performance is expected in coming quarters. Mr. Subramanian said the agriculture sector is one sector that has grown and it is reflecting reform impact.

Indian Railways solarises more than 960 stations: In order to achieve its objective of becoming 100 per cent self sustainable for all it’s power needs, Indian Railways has solarised more than 960 stations till date. Orders have been placed for 198 MW solar rooftop capacity for 550 stations which are under execution. This will contribute to national solar power needs. Some of the stations solarised are Varanasi, New Delhi, Old Delhi and Jaipur, Secunderabad, Kolkata, Guwahati, Hyderabad and Howrah. Railways had recently organised a meet of leading solar power developers who had shared their expectations of being partners in the journey of Indian Railways to become net zero carbon emitter before 2030. Indian Railways is set to produce solar energy for meeting all its energy consumption needs of more than 33 billion units by 2030. Current annual requirement is about 20 billion units.

DGCA extends ban on scheduled internationalcommercial flight ops till Sept. 30: Director General of Civil Aviation, DGCA has extended the ban on scheduled international commercial flight operations till 30th September. In a circular issued today, DGCA said, the restriction shall not apply to international allcargo operations and flights specifically approved by it. The aviation regulator said, however, international scheduled flights may be allowed on selected routes by the competent authority on case to case basis.

Former President Pranab Mukherjee passes away after battling long illness; Nation mourns loss of seasoned Statesman: Former President Pranab Mukherjee is no more. He breathed his last at Army Hospital in New Delhi this evening. He was 84. His son Abhijit Mukherjee informed this through Twitter. He said, Mr Pranab Mukherjee passed away in spite of the best efforts of doctors of Army R&R Hospital and prayers, duas and prarthanas from people throughout the country. Mr. Mukherjee served as 13th President of India from 2012 to 2017. He also served as Union Minister of Finance, Defence, External Affairs and Commerce.

STATE NEWS

Temples in Tamil Nadu to re-open tomorrow after almost 3 months: Sanitisation and cleaning works are being undertaken extensively in various temples in Tamil Nadu today as a prelude to their re-opening tomorrow after almost three months interval following COVID-19 pandemic. Major temples like Madurai Meenakshi, Trichy Malaikottai and Suchindram have been thoroughly sanitised using modern sanitizers. Steps are also being taken to ensure enough facilities for devotees to fulfill various parameters of social distancing. The Tamil Nadu State government has clarified that places of worship in the State will be allowed to be kept open till 8.00 pm from tomorrow.

INTERNATIONAL NEWS

Indian High Commission gifts books to 100 universities and Colleges to mark Mujib Barsho in Bangladesh: The High Commission of India on Monday gifted books on the life of Bangabandhu Sheikh Mujibur Rahman and the liberation war of Bangladesh to 100 universities and colleges in the country in places like Dhaka, Chattogram, Khulna, Rajshahi and Sylhet among others. According to a press release issued by the High Commission of India, the books have been written by acclaimed authors and historians. The High Commission organised the online book gifting session as part of Mujib Barsho- the birth centenary year of Bangladesh’s founder president Sheikh Mujibur Rahman.

Diplomat Mustapha Adib on course to be designated new Lebanon PM: Lebanon’s ambassador to Germany Mustapha Adib is on course to become the country’s next prime minister after securing major political backing. Mr. Adib was named by four former prime ministers on the eve of binding
consultations between the president and parliamentary blocs on their choice for the post. The announcement came a day before French President
Emmanuel Macron is due to arrive for a two day-visit, during which he is
expected to press Lebanese officials to formulate a new political pact to lift
thecountryoutofitsmultiplecrises.

BUSINESS AND FINANCE NEWS

RBI announces steps to ease pressure on liquidity and to maintain congenial financial conditions forsustainable recovery of economic growth: The Reserve Bank of India (RBI) today announced a host of steps, including term repo operations totaling Rs. 1 lakh crore in mid-September to ease pressure on the liquidity and maintain congenial financial conditions with a view to ensuring sustainable recovery of economic growth. In a statement, the central bank said the RBI stands ready to conduct market operations as required through a variety of instruments so as to ensure orderly market functioning. It added that recently market sentiment has been impacted by concerns relating to the inflation outlook and the fiscal situation amidst global developments that have firmed up yields abroad. The RBI said that in order to reduce the cost of funds, banks that had availed of funds under long-term repo operations (LTROs) may exercise an option of reversing these transactions before maturity. It thus further added that the banks may reduce their interest liability by returning funds taken at the repo rate prevailing at that time (5.15 per cent) and availing funds at the current repo rate of 4 per cent. The central bank added that the last date for paying the second installment of advance tax is September 15. Further, RBI said that it will conduct additional special open market operations involving the simultaneous purchase and sale of government securities for an aggregate amount of Rs 20,000 crore in two tranches of Rs 10,000 crore each. The auctions would be conducted on September 10, 2020, and September 17, 2020 RBI said that it remains committed to conducting further such operations as warranted by market conditions. It said that as part of the measures, the RBI has also decided to allow banks to hold fresh acquisitions 7 of statutory liquidity ratio (SLR) securities acquired from September 1, 2020, under Held-To-Maturity (HTM) up to an overall limit of 22 per cent of net demand and time liabilities (NDTL) up to March 31, 2021 which shall be reviewed thereafter. Currently, banks are required to maintain 18 per cent of their reserves in SLR securities. The extant limit for investments that can be held in the HTM category is 25 per cent of total investment.

Compiled By : CS Surbhi Saxena

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BHARAT RATNA FORMER PRESIDENT DIES AGE 84

‘Bharat Ratna’ former President Pranab Mukherjee has passed away. Pranab Mukherjee breathed his last at the age of 84 on Monday evening. He was ill for the past several days and was admitted to the Army Hospital in Delhi. Recently, Pranab Mukherjee was found corona positive, he also underwent surgery. Pranab Mukherjee’s son Abhijeet Mukherjee tweeted the information of Pranab Mukherjee’s death.

CURRENT AND CORPORATE AFFAIRS : 29 AUGUST 2020

Current and corporate affairs as on 29 august 2020

COVID-19 NEWS

Beximco Pharma to cooperate with Serum Institute of India for supply of COVID 19 Vaccine in Bangladesh: The Bangladeshi generic medicine producer Beximco Pharmaceuticals Ltd. (BPL) has announced its intention to cooperate with the Serum Institute of India (SII) for the exclusive supply of its vaccine in Bangladesh. Heads of both the companies hailed it as a ‘landmark agreement’ to help mitigate the health crisis caused by the COVID-19 pandemic. Under the terms of the planned arrangement, Beximco will make a financial contribution to advancethe development of the vaccine which will be adjusted based on the vaccineprice, said a press release issued by the BPL. The press release said SII will prioritise Bangladesh to be one of the first countries to receive an agreed quantity of doses once the vaccine receives all necessary regulatory approvals. Beximco will be the exclusive supplier of the vaccine in Bangladesh produced by the SII. It will facilitate the needs of the Government of Bangladesh by offering the opportunity for it to reserve the desired quantities for priority supply at prices to be agreed between the Government and SII. Serum Institute of India Pvt. Ltd (SII) is the world’s
largest vaccine producer. It has already partnered with Oxford/AstraZeneca along with Gates Foundation and Gavi, to produce more than a billion doses of the vaccine for global supply.

NATIONAL NEWS

IT minister launches ‘Chunauti’ a programme to further boost startups, software product: Minister for Electronics and Information Technology Ravi Shankar Prasad today launched “Chunauti”- Next Generation Startup Challenge Contest to further boost startups and software products with special focus on Tier-II towns of the country. The government has earmarked a budget of over 95 crore rupees over a period of three years for this programme. It aims at identifying around three hundred startups working in identified areas and provide them seed fund of upto 25 lakh rupees and other facilities. Under this challenge the Ministry of Electronics and IT will invite startups in the areas of work including Edu Tech, Agri Tech and Fin Tech solutions for masses, Supply Chain and Logistic management, Infrastructure, Medical Healthcare as well as jobs and skilling.

Durga Shanker Mishra launches PM Street Vendor’s AtmaNirbhar Nidhi, PM SVANidhi online dashboard: Housing and Urban Affairs Secretary Durga Shanker Mishra today launched the PM Street Vendor’s AtmaNirbhar Nidhi, PM SVANidhi online dashboard through video conferencing. The online dashboard is dynamic, interactive and will provide a one stop solution to all stakeholders looking for information
and tracking monitoring of progress of PM SVANidhi up to city level. PM
SVANidhi was launched by the Ministry on 1st June this year, for providing
loan to street vendors to resume their livelihoods that have been adversely
affected due to Covid-19 lockdown. The scheme targets to benefit over 50
lakh Street Vendors who had been vending on or before 24th March this
year, in urban areas including those from surrounding peri-urban or rural
areas

PMJDY completes six years today; PM says it’s a game changer initiative: Central government’s flagship financial inclusion programme Pradhan Mantri Jan Dhan Yojana (PMJDY) has completed six years today. The scheme was launched on 28th of August in 2014 with an aim to provide universal access to banking facilities to the people in the country. While launching the programme, Prime Minister Narendra Modi had described the occasion as a festival to celebrate the liberation of the poor from a vicious cycle. Over 40 crore 35 lakh bank accounts have been opened under the scheme since its inception and One lakh 31 thousand crore rupees have been deposited in these accounts. About eight crore PMJDY account holders are receiving Direct Benefit Transfer from the Government under various schemes. Prime Minister Narendra Modi said that Pradhan Mantri Jan Dhan Yojana initiative has been a game-changer and serving as the foundation for many poverty alleviation initiatives, benefitting crores of people.

Defence Minister to officially induct Rafale aircraft into IAF on Sep 10: Defence Minister Rajnath Singh will officially induct the first five Rafale fighter aircraft into service at the Ambala air base on 10th of September.
French Defence Minister Florence Parly has also been invited for the event
in Ambala. The first five aircraft had arrived from France in India on 29th of July. The Indian Air Force had then stated that the planes will be inducted
into the IAF after a formal ceremony. In the first tranche, India got five fighters from France including three single-seated and two twin-seated trainer aircraft.

STATE NEWS

Arunachal Pradesh assembly passes resolution to bring state under Sixth Schedule: The Arunachal Pradesh Assembly has passed a resolution to bring the state under the ambit of Sixth Schedule of the Constitution besides amending Article 371(H) by ing provisions to safeguard tribes of the state. The resolution which was moved by Legislative Affairs Minister Bamang Felix yesterday on behalf of the State Government was passed by voice vote following a marathon discussion in the house. Participating in the discussion, Chief Minister Pema Khandu said, it is a historic resolution moved by the State Government. Stating that it is a long-time exercise, the Chief Minister appealed to everyone for their cooperation as and when required.

Lok Sabha member H. Vasantha Kumar passes away at 70: Lok Sabha member H.Vasantha Kumar passed away today in Chennai. He was 70. He was representing the Kanyakumari constituency where he won on the Congress ticket in the last General Election. Vasanthakumar was admitted to Apollo Hospital in Chennai on the 10th of this month after he tested positive for Covid-19. He was in the ICU and has been on ventilator support. He succumbed to the disease this evening without responding to the treatment. Late Vasantha Kumar has been a prominent entrepreneur running a chain of retail outlets of consumer durables. Previously he has been a Congress legislator in the Tamil Nadu Assembly. The late legislator is also the paternal uncle of Telangana Governor Dr Tamilisai Soundararajan. Several leaders cutting across party lines have expressed their deep condolences over the demise of H.Vasantha Kumar.

INTERNATIONAL NEWS

Dr. Harsh Vardhan invites stakeholders in country and abroad to participate in formulating STIP 2020: Union Minister for Science and Technology, Dr. Harsh Vardhan today invited stakeholders and the public at large in the country and abroad to participate in formulating an evidence-driven, inclusive Science Technology and Innovation Policy (STIP 2020). He said that it would bring about technology indigenization to become self-reliant, mainstream traditional knowledge systems with conventional R&D, strengthen industry-academia, government interconnectedness and promote equity

India, Singapore sign Implementing Arrangement on Humanitarian Assistance & Disaster Relief: India and Singapore today signed Implementing Arrangement on Humanitarian Assistance & Disaster Relief. The two countries held a Defence Policy Dialogue via video conferencing today. It was co-chaired by Defence Secretary Dr Ajay Kumar and Permanent Secretary (Defence), Singapore Mr Chan Heng Kee. Both sides held discussions on a number of issues of bilateral defence engagements between India and Singapore. Both sides committed to further enhance the security partnership between the two countries.

Shinzo Abe resigns on health grounds; PM Modi wishes him speedy recovery: Mr Abe today resigned from the post of Prime Minister of Japan. In a tweet, Mr Modi said, in recent years, with the wise leadership and personal commitment of Mr Abe, the India-Japan partnership became deeper and stronger than ever before. The Prime Minister wished and prayed for the speedy recovery of Shinzo Abe.

US: Six killed as Hurricane Laura strikes Louisiana, bulk of damage reported: In United States, Hurricane Laura struck Louisiana as one of the most powerful storms in country’s history, leaving widespread destruction across the state. At least six people were killed in Louisiana. The bulk of the damage was reported in Louisiana. The storm barreled over Lake Charles, Louisiana, an industrial and casino city of 80,000 people. The storm, now a tropical depression, tore apart homes and businesses and knocked out power to nearly one million customers in Texas and Louisiana. Meanwhile, Arkansas is under a state of emergency and is being lashed by damaging winds and flooding.

Compiled By : CS Surbhi Saxena

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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.

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WEEKLY CORPORATE AFFAIRS

38th Weekly Taxation Newsletter

ATM Cash Withdrawal Rules Changed: RBI

ATM Cash Withdrawal Rules Changed: RBI

RBI said these charges have been allowed to increase due to the increasing cost of ATM deployment and expenses towards the maintenance of ATM incurred by banks or white label ATM operators.

Supreme Court’s E-Committee releases “e-Courts Services Mobile app”

Delhi Lockdown extended till 31st May, 2021 : Delhi Govt.

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BHARAT RATNA FORMER PRESIDENT DIES AGE 84

CURRENT AND CORPORATE AFFAIRS : 29 AUGUST 2020

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