Prime Minister laid the foundation stone for a manufacturing unit of the AK-203/103 assault rifle at the Korwa ordnance factory in the Amethi district of Uttar Pradesh.India and Russia had signed an inter governmental agreement (IGA) to build the AK-203 rifle in India. According to the agreement with Russia,Kalashnikov factory will be set up in… Continue reading India-Russia AK-203 JV will be fully indigenised in 3 years
Category: Daily Factly articles
We don’t want to reopen old wounds,’ says Sri Lanka President Sirisena
Sri Lankan President Maithripala Sirisena has backed out on the commitment made to the United Nations Human Rights Council(UNHRC) over wartime atrocities against Tamils.He said that he will now ask the UNHRC to reconsider a 2015 resolution which called for credible investigations into alleged atrocities. However,President’s cohabitation government distanced itself from his stance and said… Continue reading We don’t want to reopen old wounds,’ says Sri Lanka President Sirisena
IRDAI, NHA form joint working group on Ayushman Bharat
Insurance Regulatory and Development Authority of India (IRDAI) and National Health Agency (NHA) has decided to set up a joint working group for better implementation of Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY). The joint working group will be chaired by Dinesh Arora,Deputy CEO of NHA.It will have 10 members from both the organisations.The… Continue reading IRDAI, NHA form joint working group on Ayushman Bharat
Ujjwala leads to 40 mn new LPG connections with a jump of 45% in FY19
In the fiscal year 2018-19, more than 40 million new LPG connections have been provided under the Pradhan Mantri Ujjwala Yojana (PMUY). Launched in 2016, Pradhan Mantri Ujjwala Yojna is a scheme of the Ministry of Petroleum & Natural Gas which seek to provide clean cooking fuel through LPG to women of all poor households.… Continue reading Ujjwala leads to 40 mn new LPG connections with a jump of 45% in FY19
Insurers must use judgment while investing, says IRDAI
Insurance regulatory Development Authority of India(IRDAI) has advised companies to not just rely on the credit ratings for their investments. The advice came after several insurers had invested in entities like IL&FS based on the credit ratings assigned to its debt instruments. The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous,statutory body… Continue reading Insurers must use judgment while investing, says IRDAI
Reliance Infrastructure Limited wins bid for greenfield airport in Rajkot for ₹ 648 crore
Reliance Infrastructure has bagged a contract from the Airport Authority of India to build a recently approved Greenfield airport at Hirasar,in Rajkot district of Gujarat.It had applied for a tender under Engineering,Procurement and Construction(EPC) model. A greenfield airport is one which is not constrained by prior work.It is constructed on unused land where there is… Continue reading Reliance Infrastructure Limited wins bid for greenfield airport in Rajkot for ₹ 648 crore
Higher capital adequacy for HFC’s muted
National Housing Bank (NHB),regulator of Housing finance companies(HFC’s) has proposed to increase the capital adequacy ratio of housing finance companies (HFCs) HFC’s to 15% in a phased manner.The proposed norms are being issued in the wake of liquidity problem being faced by HFCs after IL&FS crisis. As per the proposed roadmap,HFCs have to increase minimum… Continue reading Higher capital adequacy for HFC’s muted
Tariff hike to hit exports to U.S.
The US has announced its decision to terminate India’s designation as a beneficiary of its Generalized System of Preferences (GSP). This decision comes in the backdrop of US having concerns over a range of issues like (a) India’s new rules on e-commerce that affected firms such as Amazon and Walmart (b) Data localisation rules which… Continue reading Tariff hike to hit exports to U.S.
China targets 6 to 6.5% in shadow of trade war with U.S
China lowered its economic growth target for the year 2019 to between 6 to 6.5% of Gross Domestic product(GDP). The cuts to the GDP growth target comes in the backdrop of (a)Chinese economy facing pressure from a persistent slowdown (b)Rising trade tensions between US and China and (c)slowing global economy. Chinese Government have announced various… Continue reading China targets 6 to 6.5% in shadow of trade war with U.S
No bank guarantees meant a more expensive new Rafale deal
Indian government in 2016 inked a direct deal with the French government to purchase 36 new Rafale fighter jets.The Opposition parties have alleged that the government bought 36 Rafale fighter aircraft at a much higher price than the one that was being negotiated for 126 aircraft by the previous government. Rafale is a twin-engine medium… Continue reading No bank guarantees meant a more expensive new Rafale deal
