Rajahuli

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Friday, 10 November 2017

Modi,Hasina,Mamatha Flag-off Kolkata-Khulna Train Service

    A new passenger train service between Kolkata and Bangladesh's southwestern industrial city of Khulna was flagged off by Prime Minister Narendra Modi, his Bangladesh counterpart Sheikh Hasina and the West Bengal chief minister.

A fully air-conditioned weekly passenger train service 'Bandhan Express' will run every Thursday from both Kolkata and Khulna.

On the occasion, Modi said the ties of friendship between India and Bangladesh have further strengthened. 

Wednesday, 1 November 2017

Rashtriya Ekta Diwas : October 31 2017

   Rashtriya Ekta Diwas (National Unity Day) is observed on 31 October every year in India.

This day marks the birth anniversary of Sardar Vallabhbhai Patel, who played an instrumental role in integration of princely state with Indian Union post independence.

Sardar Vallabhbhai Patel is also known as Iron man of India.

Celebration of October 31 as ‘Rashtriya Ekta Diwas’ was announced by Prime Minister Narendra Modi in 2014. 

Sunday, 15 October 2017

World Standards Day: 14th October

    World Standards Day is observed on On 14th October every year all over the world.

14th October was chosen to mark the date, in 1946, when delegates from 25 countries first gathered in London to create an international organization focused on facilitating standardization.

The first World Standards Day was celebrated on 14thOctober, 1970.

World Standards Day theme for 2017 is “Standards make cities smarter”. 

World Students Day:15th October

    World Students' Day is celebrated on 15 October every year on the occasion of birth anniversary of A. P. J. Abdul Kalam.

The most loved President of India, APJ Abdul Kalam was a scientist who made India proud with his missile defense programme.

But his favourite job was teaching and that’s how he wanted the world to remember him.

Due to his love for students and focus on promoting education, the United Nations declared his birthday (October 15) as ‘World Student’s Day’ in 2010. 

Sunday, 8 October 2017

India to Conduct the First 'BIMSTEC Disaster Management Exercise-2017'

     The First ‘BIMSTEC Disaster Management Exercise- 2017’ (BIMSTEC DMEx-2017) will be conducted by the National Disaster Response Force (NDRF) as the lead agency next week from October 10-13, 2017 in Delhi and the National Capital Region (NCR).

This Exercise will be a platform for sharing Best Practices on all aspects of Disaster Risk Reduction (DRR), strengthening regional response and coordination for Disaster Management among the BIMSTEC member countries.

The main focus of the BIMSTEC DMEx-2017 will be on testing the region’s preparedness and resilience towards effective activation of inter-Governmental interaction/dialogue/agreements for immediate deployment of regional resources for disaster response. 

Saturday, 30 September 2017

World Rabies Day: 28 September

World Rabies Day is celebrated annually on September 28 to raise awareness about rabies prevention.

The 2017 World Rabies Day theme is ‘Rabies: Zero by 30’.

This day also marks the anniversary of Louis Pasteur’s death, the French chemist, and microbiologist, who developed the first rabies vaccine. 

Thursday, 21 September 2017

NHRC National Seminar on Good Governance, Development and Human Rights

    The Union Home Minister Shri Rajnath Singh said that in Indian culture, the focus has always been on duties and not on rights; if everybody attends to his duties, the rights of all automatically get protected.

He was addressing at a National seminar on Good Governance, Development and Human Rights, organized by the National Human Rights Commission (NHRC).

He said that the concept of Human Rights in the centuries old Indian ethos is rooted in peace, unlike the West where it shaped up with conflict post- World War-II. 

Wednesday, 13 September 2017

Cabinet nod for Separation of BSNL's Tower Business

   The Cabinet approved hiving off the mobile tower assets of Bharat Sanchar Nigam Ltd (BSNL) into a separate company, fully owned by BSNL.

It has authorised BSNL to monetise its telecom tower infrastructure with the formation of a separate subsidiary, said an official release.

BSNL owns 66,000 of the 4. 42 lakh towers in the country.

The government is looking at external tenancies and garnering revenues for the new, ‘dedicated’ tower company of BSNL, the government release said. 

Tuesday, 12 September 2017

Third Eastern Economic Forum Held in Russia

      India participated in the third Eastern Economic Forum (EEF), which was held in Vladivostok, Russia at the invitation of the Russian Federation.

India’s External Affairs Minister Ms. Sushma Swaraj attended the meeting.

She presented a clear vision of India’s role and support in the development of the Russian Far East region as a Strategic Partner of Moscow.

Points to Remember

Russia, also officially known as the Russian Federation, is a country in Eurasia.

Russia's capital is Moscow while its currency is Ruble.

Vladimir Putin is Russia’s President while Dmitry Medvedev is the Prime Minister. 

Monday, 4 September 2017

President Lays foundation Stone for Link-4 of SAUNI Scheme

President Ramnath Kovind laid foundation stone for link - 4 of Saurashtra Narmada Avataran Irrigation Scheme -SAUNI- Yojana in Rajkot district.

SAUNI project had been launched by Prime Minister Narendra Modi during his tenure as Chief Minister of Gujarat aims to fill up 115 major dams by diverting overflow of water from the Sardar Sarovar Dam on Narmada River.

Gujarat Governor Mr. O. P. Kohli, Chief Minister Vijay Rupani and Deputy Chief Minister Nitin Patel were present on this occasion. 

Tuesday, 29 August 2017

29th August:National Sports Day

National Sports day is celebrated on 29th august every year to mark the birthday of Dhyan Chand.

On this occasion, President Ram Nath Kovind will give away the sports Awards. A total of 29 players have been selected to receive the honours from President.

The President will confer Rajiv Gandhi Khel Ratna Award, Arjuna Award and Dronacharya Award at Rashtrapati Bhawan.

The Khel Ratna Award is honoured for the players spectacular and most outstanding performance in the field of sports over a period of four years at international level. The Arjuna Awards are given to recognize outstanding achievement in National sports while the Dronacharya Award is sports coaching honour. 

Monday, 28 August 2017

NPCI Approves Spice Digitals Operation Under Bharat Bill Payment System

   The National Payments Corporation of India (NPCI) has given a nod to Spice Digital Ltd. for processing bill payments under the Bharat Bill Payment System (BBPS) as a Bharat Bill Payment Operating Unit (BBPOU).

The BBPS through its centralised bill payment system will allow the users to use a single website or outlet to pay all their monthly or repetitive bills such as mobile phone and electricity

Spice Digital forayed into FinTech space three years ago. Today, SDLs Spice Money is Indias leading India stack based FinTech Company. 

Sunday, 27 August 2017

Google Expands Public Wi-Fi to Indonesia

   After a successful run in India, Google has brought its public Wi-Fi programme ‘Google Station’ to Indonesia that will help improves access to Internet at railway stations and other locations.

Google is partnering with CBN and Fiberstar to bring high-speed public Wi-Fi to hundreds of locations across Indonesia.

Google, in collaboration with Railtel, has rolled out free Wi-Fi service at several railway stations in India, offering high-speed internet to millions of people.

Google launched its first free WiFi services at Mumbai Central station in January 2016. 

Saturday, 26 August 2017

UIDAI Launches Door step Adhar Enrollment

UIDAI has joined hands with CSC India for launching door step enrolment facility in the national capital for the elderly, patients and others who cannot travel the Aadhar centres.

CSC India is in charge of many operations of Aadhaar centres across India. They provide many services, especially in rural areas with about 2. 5 lakh operational CSCs across the country.

The doorstep enrollment will be done via a mobile van.

About Aadhaar card:-

Aadhaar is a 12-digit unique identity number issued by the Unique Identification Authority of India (UIDAI) on behalf of the Government of India to individuals for the purpose of establishing the unique identity of every single person.
It is a digital identity that can be verified using simple methods.
It also enables secure delivery of payments and access to government services.
Aadhaar card is required for issuing a death certificate too. 

Thursday, 24 August 2017

Home Minister Launches Digital Police Portal

Ministry of Home Affairs undertakes steps to integrate the various organs of the Criminal Justice System such as the Police, Courts, Prisons, Prosecution, Forensic Laboratories, Finger Prints and Juvenile Homes with the Crime and Criminal Tracking Network & Systems (CCTNS) database.

Launching the Digital Police Portal under the CCTNS project, Home Minister Rajnath Singh said this Interoperable Criminal Justice System (ICJS) will be a useful resource for all stakeholders including the policy makers.

According to Home Ministry, the Digital Police Portal will enable citizens to register FIRs online and the portal will initially offer seven Public Delivery Services in 34 States & UTs, like Person and Address Verification e. g. of employees, tenants, nurses etc, permission for hosting Public Events, Lost & Found Articles and Vehicle theft etc.

Besides, the portal will enable restricted access to law enforcement agencies on topics such as Antecedent Verification and make assessment of FIRs. 

Tuesday, 22 August 2017

National Workshop on Enforcement of Intellectual Property Rights

The Cell for IPR Promotion and Management (CIPAM), a professional body under the aegis of the Department of Industrial Policy & Promotion (DIPP), Ministry of Commerce & Industry, Government of India, is organizing a three-day workshop on Enforcement of Intellectual Property Rights (IPRs) from 22nd – 24th August, 2017, in New Delhi.

Enforcement agencies like police, Customs, as also the prosecution wing, have a major role to play in effective enforcement of IPRs in the country. Creating awareness about IPRs amongst officials of these agencies, while strengthening the enforcement regime, will also assist them in handling cases relating to IPRs in their day to day activities.

This workshop will help enforcement agencies across the country understand and appreciate the importance of their role in IPR enforcement. It will also act as a platform for the officials to share their experiences, exchange best practices and better inter-agency coordination with respect to enforcement of IPRs.

Additionally, a workshop was conducted at Sardar Vallabhbhai Patel National Police Academy, Hyderabad, for IPS officers from all States and the neighboring countries of Nepal, Bhutan and Maldives. 

Sunday, 20 August 2017

RBI Introduces New Rs.50 Note

The Reserve Bank of India (RBI) will soon release Rs 50 denomination banknotes in the Mahatma Gandhi (New) Series, having signature of Governor Urjit R. Patel, the central bank said in a release.

The base colour of the new note is fluorescent blue. It has a motif of Hampi with Chariot on the reverse, depicting the country's cultural heritage.
The note has geometric patterns aligning with the overall colour scheme, both at the obverse and reverse.
However, RBI clarified that all the Rs 50 banknotes in the earlier series will continue to be a legal tender. 

Friday, 18 August 2017

New Corpus Fund For higher Education

The Cabinet approved creation of a singlecorpus fund in which all proceeds of secondaryand higher education cess will be credited andutilised for the government's schemes ineducation sector. 

• The
 HRD Ministry will be responsible for theadministration and maintenance of the non-lapsable pool account which will be known as“Madhyamik and Uchchtar Shiksha Kosh”(MUSK). 
• As
 a percentage of GDP, the expenditure oneducation has dipped to 2. 8 per cent in 2014-15, from 3. 1 per cent during 2009-10 to 2013-14. 
• This
 new corpus fund would be used forfunding ongoing schemes as well asprogrammes started in the future. 

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Thursday, 17 August 2017

A New Landmark in India-USA Relationship

New vistas in the Indo-USA relationship will begin with the arrival of the first shipment of American crude oil to India by the end of September this year.

It is the first lot of two million barrels costing $100 million, is a part of expected bilateral oil trade to $2 billion.
India joins Asian countries like South Korea, Japan and China to buy American crude after production cuts by OPEC drove up prices of Middle East heavy-sour crude, or grades with a high sulphur content.
The 40-year-old ban on export of American oil was lifted by the then U. S. President Barack Obama in December 2015, but the real move started during the meeting between Prime Minister Narendra Modi and U. S. President Donald Trump on June 26 when the two leaders agreed to deepen the engagement in the energy sector.
Indian oil companies, Indian Oil Corporation and Bharat Petroleum, the duo placed orders for over four million barrels to the US counterparts.
India is the world’s third-largest oil importer.

Wednesday, 16 August 2017

World Health Organization Declares Somalia Free of Polio

The UN World Health Organisation (WHO) said that it had not recorded any case of polio disease in Somalia in the last three years, declaring the country polio free.

The WHO said the country recorded the last case of polio in 2014 in the central part of the country but has since then remained free of the paralyzing disease.
The UN health agency, however, warned Somalia remained vulnerable, calling for continued vaccination campaign.
The head of the WHO Eastern Mediterranean, which covers Somalia, Mohamed Fiqi said that massive vaccination campaigns and commitment from government and international actors had ensured the polio virus did not recur in the Horn of Africa country. 

Monday, 14 August 2017

Government Launches National Anthem Video in Sign Language

Union Minister of State for HRD Mahendra Nath Pandey, on Thursday, launched an Indian National Anthem video in sign language, featuring differently-abled and partially differently-abled children.

Directed by filmmaker Govind Nihalani, the three-minute video features Bollywood actor Amitabh Bachchan along with physically challenged children performing the anthem in sign language with the Red Fort in the background. 

Environment Minister Launches "Gaj Yatra" to Mark World Elephant Daylight

Union Environment, Forest and Climate Change Minister, Dr. Harsh Vardhan, launched ‘Gaj Yatra’, a nationwide campaign to protect elephants on the occasion of World Elephant Day.

The campaign is planned to cover 12 elephant range states. The Environment Minister released the All India Census 2017 Report on elephants as also the Agreed Points of Action on Trans-Boundary Conservation of Elephants by India and Bangladesh and a document titled ‘Right of Passage’ on elephant corridors in India.
The ‘Gaju’ mascot, which was released by the Ministry in 2012, will be helm the campaign. The campaign will be led by the Wildlife Trust of India.
Actor and wildlife enthusiast, Ms. Dia Mirza, participated in the walk and run event organised on the occasion along with the children.

About World Elephant Day
World Elephant Day is an annual global event celebrated across the world on August 12, dedicated to the preservation and protection of elephants. African elephants are listed as “vulnerable” and Asian elephants as “endangered” in the IUCN Red List of threatened species. 

Sunday, 13 August 2017

Modi may turn populist, shun major reforms till polls

MUMBAI: The Modi government is unlikely to undertake any major reform in the remainder of its term but may channel its energy to publicise achievements and emerge more people-friendly with lower taxes, says a report.
"Rather than look to conquer new ground in the run-up to the 2019 hustings, we expect Prime Minister Narendra Modi to focus on cementing the success of his reforms and infrastructure projects already started. More focus will be on administrative initiatives and not new legislative reforms on the macroeconomic front," Barclays India chief economist Siddhartha Sanyal said in a weekend note.
"Notwithstanding his aggressive reforms since 2014, we believe Modi will be selective in picking his battles and deploying his political capital ahead of the 2019 polls. A likely absence of near-term benefits will likely remain a constraining factor against launching new reforms in the run-up to the polls.
"Closer to the polls, Modi might consider deploying his political capital more to boost BJP's 'nationalist' credentials rather than its 'reformist' image", argues Sanyal.
If at all he does indeed accelerate reforms over the next 18 months, those will purely be based on the success or failure of such initiatives over the medium term, he notes.
At best, he may attempt to complete the aborted reforms like land and labour laws amendment, but will not push it hard, given the limited immediate benefits likely from them.
"Therefore, ahead of the 2019 hustings, we expect Modi's policy initiatives to evolve around three 'C's — combating corruption; completing existing policy priorities (resolving NPAs, fine-tuning GST, completing infra projects etc; and communication to highlight how his various initiatives are helping the common man, especially in rural areas," Saynal says.
A communication blitzkrieg may focus on the benefits of the government policies for the common man (low inflation, anti-corruption efforts, direct benefit transfer, stronger infrastructure like electricity, roads, irrigation etc).
Having achieved some success on the anti-graft drive (over Rs 4,313 crore black money have been unearthed since May 2014), Modi may play up this again, says the report.
"Strong anti-corruption rhetoric is likely to stay at the core of Modi's policy framework, especially given the rich political dividend the BJP has enjoyed from the banknotes ban. There is a possibility of stricter political funding rules, a crackdown on benami properties and progress towards greater disclosure of overseas assets of citizens," Sanyal says.

"Modi will keep the rhetoric against corruption, including stricter norms of funding political parties, high- pitched ahead of the polls," says the report.
On the macro front, he is unlikely to attempt any new ambitious legislative reforms until H1 of 2019 and is likely to focus on improving the delivery of government services and ease of business, he says.

Bollywood, builders & brokers: More 'shell-shocks' in storek

NEW DELHI: A 'black money bonhomie' has come under the scanner involving builders, brokers and Bollywood entities as a multi-agency probe gets underway to pierce the corporate veil of hundreds of suspected shell companies.
Sebi has begun shooting off show-cause notices to 331 listed entities, suspected to have acted as 'shell companies' for those with illicit funds, while action has also begun against more than 100 unlisted entities that could have traded in stocks with laundered money, top regulatory and government sources said.
While the capital market regulator Sebi's decision to restrict share trading has been reversed in case of some firms after they approached the Securities Appellate Tribunal, it has been permitted to go ahead with its probe against them and others who could have violated securities laws.
While many of these companies have gone public to deny any wrongdoing and have said they are not 'shell companies', a top official said a wrong perception has got created about this nomenclature and even established and well-known firms can act as 'shell companies' by providing a platform for money laundering and converting black money into white.
While several small brokers are already in the list of 'suspected shell firms', their links to bigger brokerage groups are being probed by Sebi, another official said.
Also under the scanner is the role of some brokers in creating a 'panic-like situation' in the stock market after Sebi's action to restrict trading in shares of 331 firms, he said, while adding that the move would have safeguarded the interest of minority shareholders but the brokers with their 'skin in the game' wanted to get their money out.
As Sebi (Securities and Exchange Board of India) continues its probe, affairs of these companies are also being looked into by agencies such as I-T department, ED and SFIO (Serious Fraud Investigation Office) to unravel what one top regulatory official described as a "big black money bonhomie".
Several of these firms are also suspected to have indulged in huge cash dealings post-demonetisation.
Marking coordinated efforts on their parts, the regulatory and investigative agencies are sharing their investigation reports with each other, the official said.
Citing official documents and preliminary probe findings, multiple regulatory and government officials said nearly 500 entities (including listed and unlisted ones) are currently being probed but some of the names have not been made public yet due to the sensitivity of the matter and to safeguard the investigation process.
Any action against such 'big names' would take place after the investigation has reached some conclusive stage, they added.
A large number of companies having acted as 'shell firms' are linked to businesses like real estate, commodities and stock broking, films and television (including those on digital platforms), plantation and non-banking financial services, the officials said.
"Another worrying trend is that several of these companies, including listed ones, could have helped launder money collected illegally by unlawful money-pooling schemes by groups already barred by one or other regulator," said one of the officials who didn't want to be named as investigations are underway.
Also under the scanner is funds shown as foreign or domestic 'private equity investment' by suspected 'shell firms'.
The suspected firms are being asked to explain these links and all suspicious dealings.
Some of these firms have shown on their books contracts that are not related to any actual work and could have been mentioned just to inflate turnover, while a few of them are already barred by various authorities across the country.
The last week's action on suspected 331 listed firms has already been followed up with Sebi asking exchanges and brokers to verify credentials of 107 unlisted entities and bar them from trading if results are found unsatisfactory.NEW DELHI: A 'black money bonhomie' has come under the scanner involving builders, brokers and Bollywood entities as a multi-agency probe gets underway to pierce the corporate veil of hundreds of suspected shell companies.
Sebi has begun shooting off show-cause notices to 331 listed entities, suspected to have acted as 'shell companies' for those with illicit funds, while action has also begun against more than 100 unlisted entities that could have traded in stocks with laundered money, top regulatory and government sources said.
While the capital market regulator Sebi's decision to restrict share trading has been reversed in case of some firms after they approached the Securities Appellate Tribunal, it has been permitted to go ahead with its probe against them and others who could have violated securities laws.
While many of these companies have gone public to deny any wrongdoing and have said they are not 'shell companies', a top official said a wrong perception has got created about this nomenclature and even established and well-known firms can act as 'shell companies' by providing a platform for money laundering and converting black money into white.
While several small brokers are already in the list of 'suspected shell firms', their links to bigger brokerage groups are being probed by Sebi, another official said.
Also under the scanner is the role of some brokers in creating a 'panic-like situation' in the stock market after Sebi's action to restrict trading in shares of 331 firms, he said, while adding that the move would have safeguarded the interest of minority shareholders but the brokers with their 'skin in the game' wanted to get their money out.
As Sebi (Securities and Exchange Board of India) continues its probe, affairs of these companies are also being looked into by agencies such as I-T department, ED and SFIO (Serious Fraud Investigation Office) to unravel what one top regulatory official described as a "big black money bonhomie".
Several of these firms are also suspected to have indulged in huge cash dealings post-demonetisation.
Marking coordinated efforts on their parts, the regulatory and investigative agencies are sharing their investigation reports with each other, the official said.
Citing official documents and preliminary probe findings, multiple regulatory and government officials said nearly 500 entities (including listed and unlisted ones) are currently being probed but some of the names have not been made public yet due to the sensitivity of the matter and to safeguard the investigation process.
Any action against such 'big names' would take place after the investigation has reached some conclusive stage, they added.
A large number of companies having acted as 'shell firms' are linked to businesses like real estate, commodities and stock broking, films and television (including those on digital platforms), plantation and non-banking financial services, the officials said.
"Another worrying trend is that several of these companies, including listed ones, could have helped launder money collected illegally by unlawful money-pooling schemes by groups already barred by one or other regulator," said one of the officials who didn't want to be named as investigations are underway.
Also under the scanner is funds shown as foreign or domestic 'private equity investment' by suspected 'shell firms'.
The suspected firms are being asked to explain these links and all suspicious dealings.
Some of these firms have shown on their books contracts that are not related to any actual work and could have been mentioned just to inflate turnover, while a few of them are already barred by various authorities across the country.
The last week's action on suspected 331 listed firms has already been followed up with Sebi asking exchanges and brokers to verify credentials of 107 unlisted entities and bar them from trading if results are found unsatisfactory.
NEW DELHI: A 'black money bonhomie' has come under the scanner involving builders, brokers and Bollywood entities as a multi-agency probe gets underway to pierce the corporate veil of hundreds of suspected shell companies.
Sebi has begun shooting off show-cause notices to 331 listed entities, suspected to have acted as 'shell companies' for those with illicit funds, while action has also begun against more than 100 unlisted entities that could have traded in stocks with laundered money, top regulatory and government sources said.
While the capital market regulator Sebi's decision to restrict share trading has been reversed in case of some firms after they approached the Securities Appellate Tribunal, it has been permitted to go ahead with its probe against them and others who could have violated securities laws.
While many of these companies have gone public to deny any wrongdoing and have said they are not 'shell companies', a top official said a wrong perception has got created about this nomenclature and even established and well-known firms can act as 'shell companies' by providing a platform for money laundering and converting black money into white.
While several small brokers are already in the list of 'suspected shell firms', their links to bigger brokerage groups are being probed by Sebi, another official said.
Also under the scanner is the role of some brokers in creating a 'panic-like situation' in the stock market after Sebi's action to restrict trading in shares of 331 firms, he said, while adding that the move would have safeguarded the interest of minority shareholders but the brokers with their 'skin in the game' wanted to get their money out.
As Sebi (Securities and Exchange Board of India) continues its probe, affairs of these companies are also being looked into by agencies such as I-T department, ED and SFIO (Serious Fraud Investigation Office) to unravel what one top regulatory official described as a "big black money bonhomie".
Several of these firms are also suspected to have indulged in huge cash dealings post-demonetisation.
Marking coordinated efforts on their parts, the regulatory and investigative agencies are sharing their investigation reports with each other, the official said.
Citing official documents and preliminary probe findings, multiple regulatory and government officials said nearly 500 entities (including listed and unlisted ones) are currently being probed but some of the names have not been made public yet due to the sensitivity of the matter and to safeguard the investigation process.
Any action against such 'big names' would take place after the investigation has reached some conclusive stage, they added.
A large number of companies having acted as 'shell firms' are linked to businesses like real estate, commodities and stock broking, films and television (including those on digital platforms), plantation and non-banking financial services, the officials said.
"Another worrying trend is that several of these companies, including listed ones, could have helped launder money collected illegally by unlawful money-pooling schemes by groups already barred by one or other regulator," said one of the officials who didn't want to be named as investigations are underway.
Also under the scanner is funds shown as foreign or domestic 'private equity investment' by suspected 'shell firms'.
The suspected firms are being asked to explain these links and all suspicious dealings.
Some of these firms have shown on their books contracts that are not related to any actual work and could have been mentioned just to inflate turnover, while a few of them are already barred by various authorities across the country.
The last week's action on suspected 331 listed firms has already been followed up with Sebi asking exchanges and brokers to verify credentials of 107 unlisted entities and bar them from trading if results are found unsatisfactory.
This list also mostly includes entities supposed to be engaged in real estate, plantation, trading and finance related businesses.
These lists were shared with Sebi by the Ministry of Corporate Affairs and are based on ongoing investigations by various agencies including the income tax department and SFIO.
These companies need to provide auditor certificates, annual income tax return filings, status of any pending disputes with the income tax department, and status of compliance with all the requirements of the Companies Act.








Saturday, 12 August 2017

Mutual funds see Rs 93k-cr surge in Q1 on note ban, says RBI study

MUMBAI: Two studies published by the Reserve Bank of India (RBI) have said that demonetisation has led to 'financialisation' of savings with households choosing mutual funds and other financial investments that had turned attractive vis-a-vis gold, which had seen a decline in price.
According to the first study, banks have experienced excess deposit growth in the post-demonetisation period, leading to a fall in interest rates. This, in turn, triggered a flow of money into non-banking financial intermediaries — such as mutual fund schemes, life insurance policies and non-banking finance companies — which saw their balance sheet expand by 14.5% during 2016-17.

The study says that new legislation like the goods and services tax (GST), the Real Estate (Regulation and Development) Act, 2016 (RERA) and the Benami Transactions (Prohibition) Amendment Act, 2016 will promote formalisation of the economy. This will sustain the shift to financial instruments.

The change in investor behaviour is in line with the forecast by former RBI governor D Subbarao immediately after demonetisation. Subbarao had said that real estate, which was a traditional haven for black money, will face a squeeze and households, who have traditionally parked a bulk of their savings in physical assets like gold and dwellings, will be positively biased towards financial savings.
The first study places the excess deposit growth in the banking system during the demonetisation period (ie, November 11, 2016 to December 30, 2016) at 4.0-4.7 percentage points. "In nominal terms, excess deposits accrued to the banking system due to demonetisation are estimated in the range of Rs 2.8-4.3 lakh crore. The unusual cash deposit in specific accounts, which are usually less active, is estimated to be in the range of Rs 1.6-1.7 lakh crore," the report said.

The second study shows how the sustained move towards 'financialisation' has resulted in money moving from bank deposits to the capital markets in search of better returns. According to the report, assets under management (AUM) by mutual funds touched an all-time high of more than Rs 17.5 lakh crore by end-March 2017 and further increased to Rs 20 lakh crore at end-July 2017, boosted by rising stock indices. "Resource mobilisation under equity schemes more than doubled during this period. There were also net inflows in the income/debt schemes in November 2016-June 2017 in contrast to net outflows in November 2015-June 2016," the report said.Besides mutual funds, insurance companies too saw a surge. Premium collected by life insurance companies more than doubled in November 2016. Premium collections by life companies during November 2016 to January 2017 increased 46% over the same period in FY16.
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These reports, authored by senior RBI officials, were published on the central bank's website on Friday. The RBI said that the findings and views are entirely of the authors and should not necessarily be interpreted as an RBI view.

India behaving like mature power in Doklam standoff: US defence expert

India is "behaving like a mature power" in the Doklam standoff in the Sikkim section and making China look like an adolescent throwing a tamper tantrum, a top American defence expert has said.
India and China have been locked in a face-off in the Doklam area for the last 50 days after Indian troops stopped the Chinese People's Liberation Army from building a road in the area.

Praising India's behaviour over the matter, James R Holmes, professor of strategy at the prestigious US Naval War College, said, "New Delhi has done things right thus far, neither backing away from the dispute nor replying in kind to Beijing's over-the-top rhetoric."
"It is behaving as the mature power and making China look like the adolescent throwing a temper tantrum," Holmes said.

Friday, 11 August 2017

NCERT Launches Web Portal for Supply of NCERT Textbooks

 Minister of State for Human ResourceDevelopment Upendra Kushwaha launched theNCERTs Web portal for supply of textbooks toschools and individuals at a function in NewDelhi. 

• The
 portal will ensure better distribution oftextbooks across the country and address theconcerns of schools and parents, regardingunavailability of textbooks. The Web Portal canbe accessed at www. ncertbooks. ncert. gov. in. 
• They
 can place their orders by login in onto theportal, and books will be delivered at theirdoorsteps with nominal postal charges. TheNCERT textbooks can also be downloaded, freeof cost, from its website. 

India Ratifies 2nd Commitment Period of Kyoto Protocol

India has ratified the second commitment period of the Kyoto Protocol that commits countries to contain the emission of greenhouse gases, reaffirming its stand on climate action.

India became the 80th country to accept the amendment relating to the second commitment period of the Kyoto Protocol, the international emissions reduction treaty.
The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change (UNFCCC), which commits its Parties by setting internationally binding emission reduction targets.
The Kyoto Protocol was adopted in Kyoto, Japan, in December 1997 and entered into force in February 2005. 

Qatar Scraps Visit Visa Requirements for 80 Nationalities

 Qatar has announced scrapping of visarequirements for visitors from 80 countriesincluding India to host the Football World Cup2022. 

• Under
 the new policy announced by QatarAirways and authorities, citizens of 33 mostlyEuropean countries can enter without a visa for90 days in single or multiple trips during a180day period. 
• Qatars
 economy has taken a hit since SaudiArabia, the United Arab Emirates, Egypt andBahrain moved to isolate it two months ago overallegations it supports extremists. 
• This
 will be the first time the World Cup will beheld in the West Asia. This tournament will bethe last one to involve 32 national teams,including the host nation, as the next one willhave 48 teams. 

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