- Aga Hussain elected president of Asia Rugby
Former national rugby captain Aga Hussain has been elected the president of Asia Rugby at its AGM in Hong Kong on November 19. He has thus become the first Indian to occupy the post.
He has served as the representative of Rugby India on the Asia Rugby Council since 2000. Hussain a founding member of Indian Rugby Football Union (now renamed Rugby India) who played the game for 26 years at club.
- Cabinet clears new scheme for rural women with annual outlay of Rs 3,636 cr
The Cabinet Committee on Economic Affairs has approved a new scheme — Mahila Shakti Kendra — to empower rural women with an outlay of Rs 3,636.85 crore, with a Central share of Rs 3,084.96 crore during the period 2017-18 to 2019-20.
It also approved the expansion of an umbrella scheme on women’s protection and empowerment for the period 2017-18 to 2019-20.
The objectives of the scheme include improvement in child sex ratio, ensuring survival, protection and education of the girl child, to provide an interface to rural women to avail of entitlements.
- Cabinet approves ordinance for making changes in insolvency code
The Cabinet has approved the promulgation of an Ordinance for making amendments to the Insolvency and Bankruptcy Code to streamline the selection of buyers for stressed assets.
It is expected to stop wilful defaulters from buying back stressed assets that they previously owned.
- Cabinet approves setting up of 15th Finance Commission
The Cabinet has approved the setting up of the 15th Finance Commission which will assess the tax resources of the nation and suggest a formula for their devolution among states.
The members of the Commission and its terms of reference will be notified in the due course of time, Finance Minister Arun Jaitley said after the Union Cabinet meeting.
Its recommendations will have to be in place before April 1, 2020. As per Article 280 of the Constitution, the Commission is required to make recommendations on the distribution of the net proceeds of taxes between the Centre and the states.
- Cabinet approves Expansion of Beti Bachao Beti Padhao
The Cabinet Committee on Economic Affairs has given its approval for expansion of Beti Bachao Beti Padhao for a Pan India reach covering all the 640 districts (as per census 2011) of the Country to have a deeper positive impact on Child Sex Ratio.
Expansion under BBBP has been approved based on the successful implementation in 161 districts.
The Scheme was launched by the Prime Minister on 22nd January, 2015 at Panipat, Haryana as a comprehensive programme to address the declining Child Sex Ratio (CSR) and related issues of empowerment of women over a life-cycle continuum.
- Cabinet approves expansion of Pradhan Mantri Mahila Shakti Kendra
The Cabinet Committee on Economic Affairs has given its approval for expansion of the schemes of Ministry of Women and Child Development under Umbrella Scheme “Mission for Protection and Empowerment for Women” for a period 2017-18 to 2019-20.
CCEA has also given approval to the new scheme called ‘Pradhan Mantri Mahila Shakti Kendra’, which will empower rural women through community participation to create an environment in which they realize their full potential.
- Cabinet approves ordinance related to bamboo in non-forest
The Cabinet is learnt to have approved an ordinance which seeks to amend the Indian Forest Act to exempt bamboo grown in non-forest areas from the requirement of felling or transit permit.
The move seeks to encourage bamboo plantations by farmers which will contribute to achieving the objective of doubling the farmers’ income by 2022. The amendment to Section 2(7) of the Indian Forest Act, 1927 was approved by the Cabinet
- Govt sets up panel to review income tax laws
The government has constituted a task force for redrafting the 50-year old income tax law in sync with the economic needs of the country.
The six-member task force will have Arbind Modi, CBDT Member (Legislation) as the Convener and other members, including Girish Ahuja (chartered accountant), Rajiv Memani (Chairman and Regional Managing Partner of EY) and Mansi Kedia (Consultant, ICRIER).
Prime Minister Narendra Modi, during the annual conference of tax officers in September, had observed that the Income-tax Act, 1961 was drafted more than 50 years ago and it needs to be redrafted.
- Cabinet approves continuation of the scheme on Indian Institute of Corporate Affairs beyond the 12th Plan Period
The Union Cabinet has given its approval for continuation of the scheme on Indian Institute of Corporate Affairs (IICA) for another three financial years (FYs 2017-18 to 2019-20) and providing Grants-in-aid of Rs.18 crore to the Institute. It will make the Institute self-sustainable by the end of FY 2019-20.
IICA is a think-tank and repository of data and knowledge to support rational decision-making for the policy makers, regulators as well as other stakeholders working in areas related to the corporate sector.
- Cabinet approves agreement between India and Philippines on co-operation
The Union Cabinet has approved the signing and ratifying of an Agreement between India and Philippines on cooperation and mutual assistance in customs matters.
The Agreement will help in the availability of relevant information for the prevention and investigation of Customs offences. The Agreement is also expected to facilitate trade and ensure efficient clearance of goods traded between the countries.
- Cabinet approves India’s Membership for European Bank for Reconstruction & Development
The Union Cabinet has approved India’s Membership for European Bank for Reconstruction & Development (EBRD).
Membership of EBRD would enhance India’s international profile and promote its economic interests. India’s investment opportunities would get a boost.
The issue relating to acquiring the membership of the “European Bank for Reconstruction & Development (EBRD)” had been under consideration of the Government.
- Cabinet approves signing of India – Russia Agreement on cooperation in combating terrorism and organized crime
The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval for signing an Agreement on Cooperation between India and Russia in the field of combating all forms of terrorism and organized crime.
The Agreement is proposed to be signed during the upcoming visit of Indian Delegation, led by Home Minister, to Russia from 27-29 November, 2017.
- Indian Oil sets up India’s first electric vehicle charging station
State-owned Indian Oil Corporation (IOC) has announced launch of nation’s first electric vehicle charging station at a petrol pump in Nagpur.
IOC, in collaboration with Ola, hasa launched the country’s first electric charging station at one of its petrol-diesel stations in Nagpur.
Nagpur, being the first city to introduce Electric Public Transportation Model in India.
- BRPL launches Bharat QR code-enabled facility for electricity
To promote digital transactions, power discom BRPL has launched a Bharat QR code-enabled facility for payment of electricity bills.
The consumers opting for digital payment can get cash back from minimum 10 per cent up to Rs 75 per cent per transaction. The facility was launched by BRPL CEO Amal Sinha.
- PSU bank stocks gain as Cabinet approves changes to banking code
The Union Cabinet has given approval to amend the Insolvency and Bankruptcy Code to prevent wilful defaulters from bidding for stressed assets.
State Bank of India jumped as much as 2.7 per cent to Rs 339.6 and Punjab National Bank gained as much as 3.5 per cent to Rs 192.9.
The Finance Ministry had earlier asked banks to ensure that wilful defaulters were prevented from buying same stressed assets again as it strives to cut the record $147 billion soured loans accumulated in the banking sector.
- Andhra Bank launches scheme to push entrepreneurship
Andhra Bank has launched a new scheme for self-help groups (SHGs) to encourage entrepreneurship.
The scheme, Pattabhi Sitaramayya — Self Business Group (PS-SBG), has been introduced to commemorate the 138th birth anniversary of its founder Bhogaraju Pattabhi Sitaramayya, and the Silver Jubilee of the SHG-Bank linkage programme in the country.
- Hike, Airtel Payments Bank tie-up for mobile wallet
Messaging app Hike has tied up with Airtel Payments Bank to power its mobile wallet product. Hike users will have access to the bank’s vast product line including merchant and utility payments.
The SoftBank-backed app, which has over 100 million registered users, saw over 30 per cent month-on-month growth for its wallet service.
- Facebook aims to train 5 lakh Indians on digital skills by 2020
Social networking giant Facebook on November,22 2017 said it expects to train about five lakh people in India on digital skills by 2020 and has unveiled two programmes designed for individuals and start-ups.
The two programmes – Facebook Digital Training and Facebook Startup Training Hubs – are being rolled out in India before any other country.
- Global Entrepreneurship Summit 2017
The Global Entrepreneurship Summit 2017 being hosted by India along with the US is a testament to the “strong friendship” between the two countries.
The summit, to be attended by 1,500 entrepreneurs from 170 countries, would have around 350 participants from the US, a large number of whom are Indian-Americans.
US President Donald Trump’s daughter and adviser Ivanka Trump is leading a high-powered American delegation of officials, women entrepreneurs and businessmen for the GES in Hyderabad from November 28-30.
- India, Sweden to work closely in promoting clean technologies
India and Sweden expect to work closely in adopting and promoting green technologies where small and medium enterprises would play critical role.
India–Sweden Innovations’ Accelerator Programme aims to facilitate transfer of innovative clean technologies and solutions from Sweden to India and provide a bridge for commercial Swedish–Indian innovation cooperation.
The programme has facilitated interaction between more than 45 Swedish companies and 300 Indian companies through workshops and B2B meetings.
- Robert Mugabe resigns as Zimbabwe’s president after 37 years
Zimbabwe’s Robert Mugabe resigned as president with immediate effect on November 22, 2017 after 37 years in power, shortly after parliament began impeachment proceedings against him.
Mugabe’s resignation brought an end to the impeachment proceedings brought by the ruling ZANU-PF party after its Central Committee voted to oust the president as party leader and select Mnangagwa as his replacement.
Mnangagwa was targeted by US sanctions in the early 2000s for undermining democratic development in Zimbabwe, according to the Atlantic Council, a US-based policy institute.
- Assamese actor Biju Phukan dead
Popular Assamese film and theatre actor Biju Phukan died. He was 69. He was born in 1948 in Dibrugarh, where he studied in Kanoi College before shifting to Guwahati to start his film career.
Phukan appeared in more than 80 Assamese feature films till his death. ‘Aranya’, which was directed by Samarendra Narayan Dev was adjudged the best regional film at the National Film Awards.
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