Author: ForumIAS

Banks under PCA will get over legacy issues soon, says Goyal News: Financial Minister said that the 11 banks placed in the Prompt Corrective Action (PCA) plan would overcome their ‘legacy’ issues and emerge stronger within no time. Important News: The banks under PCA are Dena Bank, Allahabad Bank, United Bank of India, Corporation Bank,… Continue reading Banks under PCA will get over legacy issues soon, says Goyal

180 days too long for resolving insolvency, says IBBI member News: A member of the Insolvency and Bankruptcy Board of India (IBBI) said the current time limit to resolve insolvency cases was more than adequate. This needs to be examined in the backdrop of increasing demands for more time to resolve cases filed for bankruptcy.… Continue reading 180 days too long for resolving insolvency, says IBBI member

Making life easier for small savers News: The Government setting up of Government Savings Promotion Act by merging the Public Provident Fund (PPF) Act of 1968, the Government Savings Banks Act of 1873 and the Government Savings Certificates Act of 1959. Important Facts: This move would strengthen the objective of ‘minimum government, maximum governance’. The… Continue reading Making life easier for small savers

States petition Kovind on 15th finance panel News: 1.Finance Ministers of six States met President Ram Nath Kovind and submitted a memorandum demanding 13 amendments to the Terms of Reference of the 15th Finance Commission. Important Facts: 2.The Memorandum stated that “the terms of reference violate the federal principle as enshrined in the Constitution, erode… Continue reading States petition Kovind on 15th finance panel

Should we do away with the I&B Ministry? Debate The Hindu Newspaper debates on whether India should do away with the Information and Broadcasting Ministry. For: Jaipal Reddy, a former I&B Minister is of the opinion that the I&B Ministry has to go as no advanced democracy has an I&B Ministry. Sardar Vallabhai Patel was… Continue reading Should we do away with the I&B Ministry?

Arbitrary, capricious News: The Governor of Karnataka invited the President of State BJP-Karnataka to form the government in spite of the presence of a coalition which was bigger than BJP. Important Facts: Some analysts feel that the Governor acted in a politically partisan manner which goes against the Constitutional feature of neutrality of office. Mr… Continue reading Arbitrary, capricious

The East Asian reset News: Pallavi Aiyar, a Young Global Leader with the World Economic Forum, observes that China-Japan relations which are usually tensed have being reset and on an upswing. Important News: Recently, China is trying to improve its relation with India as well as Japan Chinese Premier Li Keqiang’s visit to Japan on… Continue reading The East Asian reset

Amid protests, Yeddyurappa takes oath as CM News BJP State President of Karnataka B.S Yeddyurappa was sworn in as the 29th Chief Minister on Karnataka. Important Facts:   Other parties protested as their alliance had a bigger strength than BJP. They called the governor’s decision as “unconstitutional and unprecedented”. 3.The Congress has approached the Supreme… Continue reading Amid protests, Yeddyurappa takes oath as CM