WhatsApp has assured the Supreme Court that only a trial run of its payments service is underway at present and that it would comply with Reserve Bank of India(RBI) norms before launching the full version. This assurance came when the Supreme Court was hearing a petition seeking directions for the messaging platform to comply with… Continue reading Payment service will be launched only after complying with RBI norms, WhatsApp tells Supreme Court
Category: Daily Factly articles
Chief economic advisor included in finance commission’s advisory council
The Chief Economic Advisor of India,Dr. Krishnamurthy Subramanian has been included as a Member of the Advisory Council of the Fifteenth Finance Commission.In April,2018 the Fifteenth Finance Commission had constituted an Advisory Council. The role of the council is to (a)advise the Commission on any relevant issue related to the Terms of Reference(ToR) of the… Continue reading Chief economic advisor included in finance commission’s advisory council
Government and IIT-Delhi to set up a Centre of Excellence for Waste to Wealth Technologies
Government of India and IIT-Delhi has signed a MoU to set up a Centre of Excellence for Waste to Wealth Technologies.The centre will be set up to commemorate the 150th birth anniversary of Mahatma Gandhi. The aim of the centre is to implement a sustainable,scientific and technological solutions for waste management through validation and deployment… Continue reading Government and IIT-Delhi to set up a Centre of Excellence for Waste to Wealth Technologies
RBI imposes fines on PPIs for violating norms
The Reserve Bank of India has imposed penalties on five prepaid payment instrument(PPI) issuers under Section 30 of the Payment and Settlement Systems Act, 2007 for violation of regulatory guidelines. Prepaid payment instruments (PPIs) come with a pre-loaded value and in some cases a pre-defined purpose of payment.They facilitate the purchase of goods and services… Continue reading RBI imposes fines on PPIs for violating norms
India extends retaliatory tariff deadline on US products
Indian government has extended its deadline to impose retaliatory import duties on 29 US products till May 16,2019. These deadlines were extended several times since June 2018 when India decided to impose these duties in retaliation to a move by the US to impose high customs duties on certain steel and aluminium products. Further,this extension… Continue reading India extends retaliatory tariff deadline on US products
China expanding PLA’s reach around world:US
According to a report titled ‘2019 China Military Power’ released by the US Pentagon,China may create more military bases across the world to protect its investments in its ambitious Belt and road initiative(BRI). Currently,China has one overseas military base in Africa’s Djibouti.The report said that China will seek to establish additional military bases in countries… Continue reading China expanding PLA’s reach around world:US
Don’t terminate GSP benefits to India
A group of 25 influential US lawmakers has urged the US Trade Representative(USTR) not to terminate the Generalized System of Preferences(GSP) programme with India. They argued that terminating GSP for India would hurt American companies seeking to expand their exports to India. Recently,US had decided to terminate India’s designation as a beneficiary of its GSP.GSP… Continue reading Don’t terminate GSP benefits to India
Not keeping record of pre-natal tests is criminal: SC
In a significant judgment, the Supreme Court has upheld the Sections 23(1) and 23(2) of the Preconception and Prenatal Diagnostic Techniques (Prohibition of Sex Selection) (PCN-PNDT) Act, 1994. It criminalises non-maintenance of medical records by obstetricians and gynaecologists and suspend their medical licence indefinitely. The judgement came in the backdrop of a petition filed by… Continue reading Not keeping record of pre-natal tests is criminal: SC
Asia-Pacific to grow 5.7% this year: ADB
According to the Asian Development Bank, Asia Pacific region is projected to grow at 5.7% in 2019. ADB has said that most of the momentum for the region growth will come from higher consumption and investment levels.However,growth may be undermined due to trade tensions and the threat of climate change in the Asia Pacific region.… Continue reading Asia-Pacific to grow 5.7% this year: ADB
Commercial flights yet to take off at Hindon
Commercial flights under the UDAN scheme are yet to take off at the civil terminal at Indian Air Force’s Hindon airbase in Uttar Pradesh’s Ghaziabad. In March 2019, Indian Prime minister had inaugurated the civil enclave terminal built by Airports Authority of India (AAI) at Hindon airbase. The civil enclave terminal at Hindon airbase has… Continue reading Commercial flights yet to take off at Hindon
