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  • 13-Jan-2017
  • NITI Aayog calls for review RTE Act.

    The National Institution for Transforming India (NITI) Aayog has called for a review of the provisions of the Right To Education (RTE) Act that stipulate children who do not perform well cannot be held back up to 8th Class.

  • Industrial production grows 5.7% in November 2016.

    India’s factory output, measured by the Index of Industrial Production (IIP) has registered 5.7% growth in November 2016 as against 1.9% in October 2016. It is the fastest growth recorded in more than four years and is largely on account of a low base effect. It also does not display the negative effects of demonetisation as production cycles in manufacturing take longer to adjust to any demand change.

  • SC refuses to pass judgment on Jallikattu before Pongal.

    The Supreme Court has rejected a plea urging it to pass judgement on Jallikattu before the harvest festival of Pongal. It had also dismissed the review petition against its 2014 verdict. Earlier, the apex court had questioned the Union Government for its January 2016 notification allowing use of bulls in events like Jallikattu, saying that its 2014 verdict banning the use of the animals cannot be negated.

  • 04-Jan-2017
  • Justice JS Khehar sworn in as 44th Chief Justice of India.

    Justice Jagdish Singh Khehar was sworn in as 44th Chief Justice of India (CJI). He was administered oath to the office by President Pranab Mukherjee at Rashtrapati Bhavan, New Delhi. With this, he became the first person from Sikh communitry to become the CJI. Justice Khehar succeeded Tirath Singh Thakur who retired on 3 January 2017. He will remain in office from January 4, 2017 till August 4, 2017 i.e. till he attains the age of 65.

  • RBI appoints Surekha Marandi as executive director.

    The Reserve Bank of India (RBI) has appointed Surekha Marandi as its Executive Director (ED). She was appointed in place of U S Paliwal who retired on December 31, 2016. In her new role, she will look after Consumer Education and Protection Department, Financial Inclusion and Development Department, and Secretary’s Department of the RBI.

  • 31-Dec-2016
  • The Reserve Bank of India (RBI) has extended the period of enhanced Prepaid Payment Instruments (PPI) limit of Rs 20,000 as part of efforts to promote digital payments.

    The limit has been extended till the completion of review of the PPI guidelines. However, the balance in such PPIs cannot exceed Rs 20,000 at any point of time and the merchants can transfer funds from such PPIs to their own linked bank accounts up to Rs 50,000 per month, without any limit per transaction.

  • 30-Dec-2016
  • The Central Board of Direct Taxes (CBDT) signed two unilateral Advance Pricing Agreements (APAs) with Indian taxpayers pertain to the Information Technology and automobile sectors.

    The international transactions covered in these two agreements include software development services, IT enabled services (ITES), manufacturing and business support services. With this, the total number of APAs signed by the CBDT has reached 117. This includes 110 Unilateral APAs and 7 bilateral APAs. In the current 2016-17 financial year, total of 53 APAs (4 bilateral and 49 unilateral) were signed.

  • Colombia’s Congress passed a law granting amnesty to Marxist FARC (Revolutionary Armed Forces of Colombia) rebels as part of historic peace deal reached between rebels and Government. The Senate passed the bill 69-0 votes after the House of Representatives approved it by 121-0 votes. This is another step to formally end to 52 years of Columbian civil war (Latin America’s longest conflict). The law grants special legal treatment, amnesty and pardons to members of the FARC accused of political and related crimes. It does not apply to FARC rebels accused of offenses such as war crimes, rape, torture and extrajudicial killings.

  • President Pranab Mukherjee has given assent to Payment of Wages (Amendment) Ordinance, 2016, to enable industries to pay wages by cheque or credit into the bank accounts of workers. The ordinance amends the Payment of Wages Act, 1936 to encourage cashless transactions. With this assent the ordinance becomes law as per article 123 of the Constitution.

  • 50 per cent reservation in Judicial services in Bihar.

    The Bihar government  approved 50 per cent reservation in the state’s judicial services with Chief Minister Nitish Kumar’s Cabinet clearing the Bihar Uchcha Nyayik Seva (Sansodhan) Niymawali, 2016, and Bihar Asainik Seva (Sansodhan) Niymawali, 2016.

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