RBI Eases Cash Reserve Rules To Ease Liquidity
To help banks overcome any possible liquidity constraints, the Reserve Bank of India on Thursday said they can avail of higher liquidity with effect from October 1 as it has enhanced the "Facility to Avail Liquidity for Liquidity Coverage Ratio (FALLCR)" from the existing 11 per cent to 13 per cent of their deposits.
This move will take the total carve-out from SLR (statutory liquidity ratio) available to banks to 15 per cent of their deposits. Banks' SLR, which is the percentage of deposits that they have to mandatorily invest in government and state government securities, is currently at 19.5 per cent.
Adultery No Longer A Criminal Offence, SC Strikes Down Section 497 of IPC
How couples deal with it is a private matter, says CJI; Section 497 treats a woman as her husband’s commodity
A five-judge Constitution Bench, led by Chief Justice of India Dipak Misra, in four separate but concurring opinions on Thursday held that adultery is not a crime and struck it off the Indian Penal Code.
Chief Justice Misra, in an opinion for himself and Justice A.M. Khanwilkar, observed that Section 497 (adultery) of the Code “commands” married couples to remain loyal to each other.
Important Cabinet Approvals: 26th September 2018
The Union Cabinet chaired by Prime Minister Narendra Modi has given the following set of approvals. The important Cabinet Approvals are given as follows-
The Cabinet has approved-
1. MoU between India and Uzbekistan on Mutual Cooperation in Combating Illicit Trafficking in Narcotics, Drugs, Psychotropic Substances and Precursors,
2. MoU between India and Uzbekistan on Cooperation in the Sphere of Law & Justice,ccess to all with 50 megabit per second speed, 5G services and create 40 lakh new jobs by 2022.
India And Morocco Signed MoU to Enhance Cooperation In MSME Sector
India and Morocco signed an MoU for deepening cooperation between MSME sectors of the two countries in Rabat, Morocco yesterday. The MoU was signed by CMD, National Small Industries Corporation (NSIC), Ravindra Nath and Director General, Maroc PME, Mr. Rabri Barrazouka. Through this MOU, the NSIC and Maroc PME will work together to enhance cooperation opportunities for MSMEs of both countries. It will facilitate transfer of Indian technologies and products to Morocco.
India and Oman Agree to Enhance Bilateral Cooperation
Sayyid Badr Saud Harib Al Busaidi, the Minister Responsible for Defence Affairs, Sultanate of Oman, is on an official visit to India at the invitation of Raksha Mantri Smt Nirmala Sitharaman. The Omani Minister met with Raksha Mantri in South Block.
The three wings of the Armed Forces hold staff talks and advanced joint exercises with each other. Several enabling agreements and Memoranda of Understanding have been signed between the two countries pertaining to defence related issues.
IAF Successfully Test Fires Air-To-Air Astra Missile
Astra, the indigenously developed Beyond Visual Range Air-to-Air Missile (BVRAAM), was successfully test-fired by the Indian Air Force from Su-30 aircraft, today from Air Force Station, Kalaikunda.
The missile successfully engaged a manoeuvring target with high precision meeting the mission objectives.
Argentina Gets Biggest Loan in IMF's History At $57 billion
Argentina has received the biggest loan package ever from the International Monetary Fund, aimed at shoring up the country’s ailing finances: a whopping $57.1bn that will be disbursed over the next three years.
“This is the biggest loan in the history of the IMF,” said the fund’s director, Christine Lagarde, on Wednesday as the final loan agreement was announced in New York.
World Tourism Day: 27 September
World Tourism Day is observed every year globally on 27th September. It is a unique opportunity to raise awareness on the potential contribution of digital technologies to sustainable tourism development.
“Tourism and the Digital Transformation” is the theme of this year’s World Tourism Day (WTD). Hungary is the host country for this year's WTD.
PM Modi Got UN’s Highest Environmental Honour
Prime Minister Narendra Modi has been awarded with the UN’s highest environmental honour, also given to five other individuals and organisations, for his leadership of the International Solar Alliance and pledge to eliminate single use plastic by 2022.
Six of the world’s most outstanding environmental changemakers have been recognised with the Champions of the Earth Award. “This years’ laureates are recognised for a combination of bold, innovative and tireless efforts to tackle some of the most urgent environmental issues of our times,” the UN Environment Programme said.
IISc Bengaluru Tops India in Global List Of Best Institutes
No Indian institution figures in the top 250 of the Times Higher Education’s (THE) world university rankings 2019, though the Indian Institute of Science, Bengaluru, has retained its position as the highest-ranked centre in the country, while the Indian Institute of Technology-Indore has risen to the highest position behind it.
The rankings, released on Wednesday, show Oxford continues to hold the first place, Cambridge second, and Stanford third. The Massachusetts Institute of Technology rose one place to number four.
Vice president M. Venkaiah Naidu inaugurated Smart City Expo India-2018
Vice president M. Venkaiah Naidu inaugurated Smart City Expo India-2018 in Jaipur today. Addressing the inaugural function, Mr. Naidu said that state govt. is doing well for linking of rivers. He stressed on need for water harvesting.
Vice President said that Smart Vision, Smart execution and smart Implementation are essential to develop smart cities. He said that no city can become smart without participation of public.
Cabinet approves National Digital Communications Policy
The cabinet has approved the new telecom policy, now named National Digital Communications Policy (NDCP) 2018, which aims to attract USD 100 billion investment and create 4 million jobs in the sector by 2022. According to the draft of the policy, NDCP is focused on increasing high-speed broadband penetration, with use of modern technologies like 5G and optical fibres across the country at affordable rates.
The draft promised to rationalise levies such as spectrum charges to rejuvenate debt-ridden telecom sector, the proposed new telecom policy seeks to provide broadband access to all with 50 megabit per second speed, 5G services and create 40 lakh new jobs by 2022.
Aadhaar Linking Must For PAN and Filing Income Tax Returns
The Supreme Court declared the Centre's flagship Aadhaar scheme as Constitutionally valid. The Supreme Court ruled that linking the Aadhaar card to PAN card is mandatory and is needed for filing income tax returns. The apex court, however, said Aadhaar is not mandatory for opening bank accounts and linking with existing accounts.
The Supreme Court also struck down Section 57 of the Aadhaar Act that allowed private companies to avail Aadhaar data. Calling the section unconstitutional, the court asserted that private companies cannot insist on having Aadhaar number of customers. Aadhaar authentication records cannot be stored beyond six months, striking down the current rule of five years.
Supreme Court Allows Live Streaming Of Cases of Constitutional importance
The Supreme Court agreed to live-streaming and video recording of court proceedings, saying “sunlight is the best disinfectant”. The Supreme Court allowed live streaming of cases of Constitutional importance that take place in the Court of the Chief Justice of India.
The bench said that they want to implement the concept of 'open court' in a bid to decongest the court. As per the court the public had a "right to know" what happens inside the courtroom. The decision came on the back of a clutch of petitions filed by senior lawyer Indira Jaisingh, law student Snehil Tripathi and NGO Centre For Accountability and Systemic Change.
UN Declared Nelson Mandela Decade Of Peace 2019-2028
The United Nations is declaring 2019-2028 as the “Nelson Mandela Decade of Peace,” and a declaration being adopted at Monday's peace summit connects his qualities of humility, forgiveness and compassion to U.N. goals, including disarmament, human rights and poverty alleviation.
Finance Ministry Launched Mobile App “Jan Dhan Darshak"
Department of Financial Services (DFS), Ministry of Finance and National Informatics Centre (NIC) have jointly developed a mobile app called Jan Dhan Darshak as a part of financial inclusion (FI) initiative. This app will act as a guide for the common people in locating a financial service touch point at a given location in the country.
While over 5 lakh FI touch points (Bank branches, ATMs, Post Offices) have been mapped on this App, approx. 1.35 lakh Bank Mitras would be on-boarded by 01.12.2018. Phone number of bank branches are available in the app, with the facility of call button for integrated dialling.
Japan Landed Rovers On Asteroid In Historic Mission
The Japan Aerospace Exploration Agency (JAXA) landed a pair of rovers on an asteroid, marking the world's first moving, robotic observation of an asteroid surface. The two rovers Hayabusa2 managed to land on the asteroid are expected to take advantage of the low gravity and jump around the surface, reaching heights of up to 15 meters.
The small compact MINERVA-II1(MIcro Nano Experimental Robot Vehicle for Asteroid, the second generation) rovers separated from the Hayabusa2 spacecraft. The MINERVA-II 1 consists of two rovers, Rover-1A and Rover-1B. The Hayabusa2 probe was launched in December 2014 to explore the surface of the asteroid known as Ryugu. If all goes well, the Hayabusa2 will return to earth with soil and rock samples in 2020,
DAC approves procurement of one thousand engines for T-72 tanks
The Defence Acquisition Council (DAC) accorded approval for the procurement of 1000 engines for fitment in T-72 tanks of the Army under 'Buy and Make' category at an approximate cost of Rs 2300 crore.
Post the transfer of technology, most of these engines will be manufactured by the Ordnance Factories Board (OFB). The engines will enhance mobility, agility, and acceleration of T-72 tanks making them more versatile and effective in the battlefield.
Finland Topped In ‘Human Capital’ Score, India Ranked 158th
India ranks 158th in the world for its investments in education and health care, according to the first-ever scientific study ranking countries for their levels of human capital.
The nation is placed behind Sudan (ranked 157th) and ahead of Namibia (ranked 159th) in the list. The U.S. is ranked 27th, while China is at 44th and Pakistan at 164th.
Mukesh Ambani Toped Barclays Hurun Rich List For 7th Time In A Row
Industrialist and Reliance Industries Ltd Chairman Mukesh Ambani has topped the "Barclays Hurun India Rich List-2018" for the seventh consecutive year, with his wealth estimated at Rs. 371,000 crore, an official said on Tuesday.
Figuring next on the chart are S.P. Hinduja & Family of Hinduja Group, with an estimated wealth of Rs. 159,000 crore, and Arcelor Mittal's L.N. Mittal & Family at Rs. 114,500 crore.
Following them are: Wipro's Azim Premji at Rs. 96,100 crore, Sun Pharmaceuticals Ltd's Dilip Shanghvi at Rs.89,700 crore, Kotak Mahindra Bank's Uday Kotak at Rs. 78,600 crore, Serum Institute of India's Cyrus Poonawalla at Rs. 73,000-crore, Adani Group's Gautam Adani & Family at Rs. 71,200 crore, and Shapoorji Pallonji Mistry's Cyrus P. Mistry at Rs. 69,400 crore.
Government Recorded More Than Rs. 12,000 crore business on GeM
The National Mission on Government e Marketplace (GeM), was launched by the Minister of Commerce and Industry, Suresh Prabhu, on 5th of September 2018. This was followed by the launch of the Mission in 19 States and Union Territories. GeM has recorded till date more than 8 lakh transactions worth over Rs.12,239 crore.
The Government of India decided to launch a six week long National Mission on GeM from 6th Sept. to 17th Oct 2018 in order to increase awareness, accelerate the use of GeM and to further augment the proven benefits of procurement through GeM for all government departments and organisations.
Supreme Court Constitutes Committee To Look Into Jail Reforms
The Supreme Court Tuesday constituted a three-member committee headed by its former judge Justice Amitava Roy to look into the aspect of jail reforms across the country and suggest measures to deal with them. A bench headed by Justice M B Lokur said the panel will look into the issues including over-crowding in prisons.
FDI in Telecom Sector Jumped Five Times In Three Years
Union Minister of Communications Shri Manoj Sinha said that FDI in the telecom sector has jumped nearly five times in the last 3 years - from USD 1.3 Billion in 2015-16 to USD 6.2 Billion in 2017-18. Inaugurating a seminar here on the topic of FDI in Telecom Sector: The Way Ahead, he said that India needs massive investment in developing newer technologies which are accessible and affordable to the people and at the same time creates productive employment. For India to utilize its demographic dividend it is absolutely necessary to create semi-skilled jobs in short run, and the Telecom sector will play an important role in creating those employment opportunities, he added.
Dr. Harsh Vardhan Inaugurated Air Pollution Control Device ''WAYU'' in Delhi
Union Minister for Science & Technology and Earth Sciences and Environment, Forest and Climate change, Dr Harsh Vardhan inaugurated air pollution control device WAYU(Wind Augmentation PurifYing Unit) for traffic junctions at ITO intersection and Mukarba Chowk in Delhi.
WAYU is developed by Council of Scientific and Industrial Research – National Environmental Engineering Research Institute (CSIR-NEERI) as a part of Technology Development Project being funded by Department of Science and Technology. This device can purify the air in an area of 500 square meters. 54 more such devices will be installed by 15th October in Delhi
Google appoints Keith Enright as its Chief Privacy Officer
Technology giant Google has appointed its privacy lawyer, Keith Enright, as Chief Privacy Officer as the company proposed policies for potential federal regulation of data. In his new role, Enright will be in charge of crafting Google's strategy on privacy issues. Before Google, Enright worked as the Chief Privacy Officer at Macy's and was also a senior consultant at IBM.