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Union Cabinet approves revised Indo-Cyprus DTAA

Published on: 25-AUG-2016
Important for Exam: 0 people agreed

With the revision of the treaty now approved by the Cabinet, capital gains will be taxed in India for entities resident in Cyprus, subject to double tax relief.

Union Government launches web portal for star rating of major mineral mines

Published on: 20-AUG-2016
Important for Exam: 5 people agreed

A web enabled online system for evaluation of measures has been developed with the help of National Institute of Smart Governance (NISG), Hyderabad.

SBI board approved merger of 5 associate banks, BMB with itself

Published on: 19-AUG-2016
Important for Exam: 2 people agreed

The board also finalised the share swap ratio for three of the listed subsidiaries and Bharatiya Mahila Bank. The listed subsidiaries of the SBI are - State Bank of Bikaner and Jaipur, State Bank of Mysore, State Bank of Travancore.

India Post Payments Bank incorporated

Published on: 19-AUG-2016
Important for Exam: 2 people agreed

With this incorporation, the bank has become the first Public Sector Undertaking (PSU) under the Department of Posts (DoP). Further, the DoP is expected to complete the roll out of its branches all over the country by September 2017.

Union Government constituted National Committee on Trade Facilitation

Published on: 16-AUG-2016
Important for Exam: 3 people agreed

The committee seeks to develop the pan-India road map for trade facilitation as per the Trade Facilitation Agreement of the WTO. The TFA is an outcome of the Bali Package 2013 or Ninth Ministerial Conference of the WTO.

RBI releases Third Bi-monthly Monetary Policy Statement 2016-17

Published on: 10-AUG-2016
Important for Exam: 10 people agreed

One of the key announcements under the policy was that the RBI Governor Raghuram G Rajan kept the Repo Rate under the Liquidity Adjustment Facility (LAF) unchanged at 6.5 percent.

RBI constitutes Tarun Ramadorai Committee on Household Finance

Published on: 05-AUG-2016
Important for Exam: 4 people agreed

It will have representation from financial sector regulators namely, Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority of India (IRDAI), Pension Fund Regulatory and Development Authority (PFRDA).

RBI launches Sachet portal to check illegal money collection

Published on: 05-AUG-2016
Important for Exam: 1 people agreed

The portal will help anyone can obtain information regarding entities that are allowed to accept deposits, lodge complaints and share information regarding illegal acceptance of deposits by unscrupulous entities.

CCEA approves Ghatampur Thermal Power Project in Uttar Pradesh

Published on: 21-JUL-2016
Important for Exam: 2 people agreed

The project will be installed through a Joint Venture Company named Neyveli Uttar Pradesh Power Limited, which is formed jointly by Neyveli Lignite Corporation Limited and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited.

CCEA approves construction of new Dry Dock within Cochin Shipyard Limited

Published on: 21-JUL-2016
Important for Exam: 0 people agreed

The project will augment the shipbuilding/ship repair capacity essentially required for tapping the market potential of building specialized and technologically advanced large vessels.

CBDT signs seven Unilateral Advance Pricing Agreements with Indian taxpayers

Published on: 19-JUL-2016
Important for Exam: 1 people agreed

The international transactions covered in these agreements include software development Services, IT enabled Services, Engineering Design Services & Business Support Services.

RBI sets up Sudarshan Sen-headed Inter-regulatory Working Group on Fin Tech and Digital Banking

Published on: 15-JUL-2016
Important for Exam: 5 people agreed

It will view the growing significance of Fin Tech innovations and their interactions with the financial sector as well as the financial sector entities.

Time schedule for making payments under Income Declaration Scheme 2016 revised

Published on: 15-JUL-2016
Important for Exam: 3 people agreed

As per the revised schedule, a minimum amount of 25% of the tax, surcharge & penalty can be paid by 30 November 2016 and further amount of 25 % by 31 March 2017. The balance amount can be paid on or before 30 September 2017.

Union Cabinet approves disinvestment of 15% in NBCC

Published on: 14-JUL-2016
Important for Exam: 2 people agreed

NBCC, a Navratna company, was incorporated with an objective of becoming a leading company in the field of construction, engineering and project management consultancy services.

Union Cabinet approves revival of defunct Fertilizer Units in Gorakhpur, Sindri and Barauni

Published on: 14-JUL-2016
Important for Exam: 0 people agreed

The setting up of new units at Sindri, Gorakhpur and Barauni will help in meeting the growing demand of urea of Bihar, West Bengal and Jharkhand.

CBDT notifies Rules for calculating Fair market value of Assets

Published on: 01-JUL-2016
Important for Exam: 3 people agreed

The Fair Market Value of listed companies will be computed on the basis of a formula taking into account its market capitalisation, book value of liabilities and total number of shares.

Union Cabinet considers Model Shops and Establishments (Regulation of Employment and Conditions of Service) Bill, 2016

Published on: 29-JUN-2016
Important for Exam: 2 people agreed

The Model Bill would bring about uniformity in the legislative provisions across the States and Union Territories. It also seeks to facilitate the ease of doing business and generation of employment opportunities across the country.

Union Cabinet approves recommendations of 7th Pay Commission

Published on: 29-JUN-2016
Important for Exam: 9 people agreed

Now, the central government employees and pensioners will get a hike of at least 23.55 percent in their salaries. The rate of annual increment for employees will be 3 percent.

RBI publishes Payment and Settlement Systems in India: Vision-2018

Published on: 28-JUN-2016
Important for Exam: 13 people agreed

Vision-2018 revolve around 5 Cs – coverage, convenience, confidence, convergence and cost, which can be achieved with focus on four strategic initiatives, viz., responsive regulation, robust infrastructure, effective supervision and customer centricity.

Union Cabinet approves largest-ever Spectrum Auction

Published on: 25-JUN-2016
Important for Exam: 8 people agreed

It will put up 700 MHz band, which is used for offering high-speed broadband services, for sale for the first time at a reserve price of 11485 crore rupees per MHz pan-India.

Special package for employment generation and promotion of exports in Textile and Apparel sector approved

Published on: 22-JUN-2016
Important for Exam: 5 people agreed

The package includes a slew of measures which are labour friendly and would promote employment generation, economies of scale and boost exports.

Union Cabinet approved establishment of Fund of Funds for Startups

Published on: 22-JUN-2016
Important for Exam: 4 people agreed

The 10000 crore rupees corpus fund could potentially be the nucleus for catalyzing 60000 crore rupees of equity investment and twice as much debt investment.

IWAI and IPGPL signed MoU on Kaladan Multimodal Transit Transport Project

Published on: 21-JUN-2016
Important for Exam: 2 people agreed

The MoU has been signed for implementation additional works, which are independent of the on-going works, like Container handling facilities at Sittwe & Paletwa.

Union Government introduces Radical changes in FDI Policy regime; Grants 100% FDI in Defence Sector

Published on: 20-JUN-2016
Important for Exam: 20 people agreed

Changes introduced in the policy include increase in sectoral caps, bringing more activities under automatic route and easing of conditionality for foreign investment.

Union Cabinet approved Bill to fast track recovery of bad loans

Published on: 16-JUN-2016
Important for Exam: 5 people agreed

The Enforcement of Security Interest and Recovery of Debts Laws and Miscellaneous Provisions (Amendment) Bill, 2016 seeks to improve ease of doing business by fast tracking recovery of bad loans.

Union Cabinet approved merger of SBI with its five subsidiaries

Published on: 16-JUN-2016
Important for Exam: 23 people agreed

Apart from this, the Bharatiya Mahila Bank will also be merged with the SBI and the cabinet had cleared this proposal too.

Union Government launches Scheme for setting up 1000 MW Wind Power Project connected to CTU

Published on: 15-JUN-2016
Important for Exam: 14 people agreed

Solar Energy Corporation of India (SECI) has been designated as nodal agency for implementation of the scheme.

RBI introduces Scheme for Sustainable Structuring of Stressed Assets

Published on: 14-JUN-2016
Important for Exam: 7 people agreed

The guidelines were issued with an aim to further strengthen the lenders’ ability to deal with stressed assets and to put real assets back on track.

NIIF, Qatar Investment Authority signed MoU to facilitate investment in Indian infrastructure sector

Published on: 10-JUN-2016
Important for Exam: 7 people agreed

The objective of the Memorandum of Understanding is to facilitate QIA to study investment opportunities in the infrastructure sector in India.

ADB and Union Government signed Loan Agreement to upgrade 176 Km of roads in Jharkhand

Published on: 07-JUN-2016
Important for Exam: 3 people agreed

It will upgrade existing sections of four State roads to two lane standard and will also support improvements in the design, safety and maintenance of the network.

CCEA approved Minimum Support Prices for Kharif Crops for 2016-17 Season

Published on: 03-JUN-2016
Important for Exam: 8 people agreed

The prices will come into effect from effective from 1 October 2016.  The higher MSPs would increase investment and production through assured remunerative prices to farmers.

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