The February 12 circular aims at quick reporting of defaults, resolution plan for defaulting companies and a time-bound referral of defaulting companies to the National Company Law Tribunal (NCLT) and makes it mandatory to map an account as NPA even on a single-day default. Power sector companies had challenged the the February 12 circular in… Continue reading Government proposed no modification in February 12 circular of the RBI.
Category: Daily Factly articles
RBI cuts repo rate by 25 bps:Loan EMIs likely to reduce
Six-member monetary policy committee (MPC) headed by RBI Governor lowered the repo rate by 25 basis points to 6.25 per cent, repo or repurchase rate is where RBI lends money to commercial banks.RBI last cut rates in August of 2017. RBI has taken this decision because India’s consumer price based inflation is averaged at 3… Continue reading RBI cuts repo rate by 25 bps:Loan EMIs likely to reduce
NASA to crash into asteroid, ESA to follow up
The European Space Agency’s (ESA’s) Hera mission is set for a new record by becoming the first spacecraft to explore a binary asteroid — the Didymos pair. The moon orbiting Didymos, called ‘Didymoon’ — almost the size of the Giza Pyramid in Egypt, measuring just 160 metres in diameter—will be the smallest asteroid ever explored.… Continue reading NASA to crash into asteroid, ESA to follow up
Cabinet approves introduction of National Institutes of Food Technology, Entrepreneurship and Management Bill, 2019
The objective of the bill is to confer the status of Institutions of National Importance to (a) National Institute of Food Technology, Entrepreneurship and Management (NIFTEM) at Kundli, Haryana, and (b) Indian Institute of Food Processing Technology (IIFPT) at Thanjavur, Tamil Nadu. The legislation would provide for functional autonomy to the institutes to design and… Continue reading Cabinet approves introduction of National Institutes of Food Technology, Entrepreneurship and Management Bill, 2019
We need a leap in healthcare spending
1. India’s per capita expenditure on health remains among the lowest in the world. 2. While 10.6% of the total amount in the Interim Budget is allocated to defence, only 2.2. % is allocated to healthcare. 3. The U.S.’s health expenditure is 18% of GDP, while India’s is still under 1.5% and remains short of… Continue reading We need a leap in healthcare spending
Cabinet approves establishment of Rashtriya Kamdhenu Aayog
The Union Cabinet has approved the proposal for establishment of Rashtriya Kamdhenu Aayog. It seeks for conservation protection and development of cows and their progeny. The announcement in this regard was made in the interim Budget for 2019-20. It will work in collaboration with Central/State Government institutions/ departments engaged in the task of research in… Continue reading Cabinet approves establishment of Rashtriya Kamdhenu Aayog
Pension for informal workers
The government, in the interim budget, 2019, has announced Pradhan Mantri Shram-Yogi Maandhan, a pension scheme for workers in the unorganised sector whose income is up to Rs 15,000 per month. Under the scheme, an assured monthly pension of Rs. 3000 rupees per month will be provided to workers in the unorganised sector after 60… Continue reading Pension for informal workers
First career portal for students launched in Rajasthan
The Rajasthan Government, in collaboration with United Nations Children’s Fund (UNICEF) has launched Rajiv Gandhi Career Portal to provide employment-oriented education to students from classes 9 to 12 The career portal, a first of its kind in India, aims to provide information to secondary and higher secondary students on a) entrance examinations, b) scholarships, c)… Continue reading First career portal for students launched in Rajasthan
Expert panel defers clearance to Andaman resort project
Clearance for the proposal by the Andaman and Nicobar Islands Integrated Development Corporation Limited (ANIIDCL) to develop a premium an Island Resort at Lalaji Bay, Long Island, Andaman and Nicobar Islands has been deferred by an Expert committee of the Union Environment Ministry The project has been postponed on the grounds that the area is… Continue reading Expert panel defers clearance to Andaman resort project
Tough-talking: On Taliban reconciliation process
The Taliban reconciliation process is moving at a much faster pace than was expected, as seen by recent meetings of Taliban with US representatives in Doha and Russian officials in Moscow, but India has not been included in these meetings. The US and Russia have accepted the idea that (a) concessions to Taliban, without insisting… Continue reading Tough-talking: On Taliban reconciliation process
