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

Published on: 29-JUN-2016
Important for Exam: 1 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: 4 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: 5 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: 4 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: 1 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: 14 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: 21 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: 11 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: 2 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: 7 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.

Singapore International Arbitration Centre to open Representative Office at GIFT City

Published on: 03-JUN-2016
Important for Exam: 3 people agreed

The representation office will be located in the Gujarat International Finance Tec-City (GIFT City). The center will be instrumental in resolving international commercial disputes.

Cabinet Committee on Economic Affairs approves Mau-Tarighat Railway line project

Published on: 03-JUN-2016
Important for Exam: 12 people agreed

The total length of this new broad gauge line will be 51 kilometers.

Union Cabinet approves setting up of India Post Payments Bank

Published on: 02-JUN-2016
Important for Exam: 6 people agreed

Its services will be available across the country through 650 payments bank branches, linked post offices and alternative channels riding on modern technology.

Index of Industrial Production of Eight Core Industries for April 2016 released

Published on: 01-JUN-2016
Important for Exam: 4 people agreed

The total of Indices of Eight Core Industries stands at 176.4 in April 2016 which is 8.5 percent more than that of April 2015. Its cumulative growth during April to March 2015-16 was 2.7 percent.

Direct Tax Dispute Resolution Scheme 2016 comes into force

Published on: 01-JUN-2016
Important for Exam: 6 people agreed

The declarations under this Scheme may be made on or before the 31 December 2016 in respect of tax arrears & specified tax.

India and World Bank sign agreement to improve efficiency and attractiveness of City Bus Services

Published on: 01-JUN-2016
Important for Exam: 12 people agreed

Demonstration cities where the various initiatives for improving city bus services will be undertaken are Mira Bhayandar in Maharashtra, Chandigarh, Jaipur, and Bhopal.

National GDP Provisional Estimates for 2015-16 released

Published on: 01-JUN-2016
Important for Exam: 33 people agreed

India continued to remain a bright spot in world economy with robust macro-economic and fiscal parameters.

Union Government approves third NIMZ of India in Odisha

Published on: 27-MAY-2016
Important for Exam: 13 people agreed

For execution of the project, 4241 crore rupees have been approved of which 3816 crore rupees will be invested for the first phase of the project which will be completed by 2020.

Union Cabinet approves takeover of Hindustan Steel Works Construction Limited by NBCC

Published on: 26-MAY-2016
Important for Exam: 1 people agreed

The decision will benefit in economies of scale for NBCC and would assist in better manpower utilization. NBCC and HSCL will benefit from each other’s resources and expertise.

Union Cabinet approved National Capital Goods Policy 2016

Published on: 25-MAY-2016
Important for Exam: 9 people agreed

This is first ever policy for Capital Goods sector with a clear objective of increasing production of capital goods from 2.3 lakh crore rupees in 2014-15 to 7.5 lakh crore rupees in 2025.

Islamic Development Bank announced to open its first branch in India at Ahmedabad

Published on: 25-MAY-2016
Important for Exam: 26 people agreed

The plans to set up the branch at Gujarat is part of MoU signed between India’s EXIM Bank  and IDB during Prime Minister Narendra Modi visit to United Arab Emirates (UAE) in April 2016.

India, World Bank signs US$ 100 Million agreement for Karnataka Urban Water Supply Modernization

Published on: 25-MAY-2016
Important for Exam: 7 people agreed

The loan, from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period, and a maturity of 24 years.

SEBI tightens P-Notes norms to check money laundering

Published on: 22-MAY-2016
Important for Exam: 8 people agreed

These norms were passed upon recommendations of the Supreme Court- appointed SIT on black money headed by former apex court judges Justice MB Shah.

IT department launches e-nivaran platform to fast track taxpayer grievances

Published on: 19-MAY-2016
Important for Exam: 8 people agreed

In this regard, a separate and dedicated window for grievance redressal was also launched in the Income Tax Business Application (ITBA).

SBI to merge 5 subsidiaries, Bharatiya Mahila Bank with itself

Published on: 18-MAY-2016
Important for Exam: 13 people agreed

The proposed consolidation will create a banking behemoth with a balance sheet size of 37 trillion rupees.

NTPC tied-up with Coal India Limited to foray into Fertilizer Sector

Published on: 17-MAY-2016
Important for Exam: 4 people agreed

The JV company would initially be incorporated with 50:50 equity participation from both.

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