18, September 2016

1.RBI restricts further foreign investments in South Indian Bank

Source: Indian Express

Reserve Bank has restricted overseas investors to make further investment in South Indian Bank as the prescribed foreign shareholding limit has reached the trigger limit.

The foreign shareholding by ADR/GDR/FIIs/RFPIs/NRIs/Foreign Direct Investment (FDIs)/Persons of Indian Origin (PIOs) in South Indian Bank Ltd has reached the trigger limit, the RBI said in a notification.

Report by RBI:

Hence, further purchases of equity shares of this company would be allowed only after obtaining prior approval of the Reserve Bank of India,” RBI said. As on June 2016, foreign portfolio investors had 33.66 per cent in South Indian Bank, while foreign individuals/NRIs had 7.52 per cent, according to data on BSE.

Investment:

FIIs, NRIs and PIOs (Persons of Indian Origins) can invest in primary and secondary capital markets in India through PIS. The RBI monitors the ceilings on FII/NRI/PIO investments in Indian companies on a daily basis and has fixed the cut-off points two percentage points lower than the actual ceiling

2.GST reform a ‘gamechanger, Govt working ‘overtime’: Cabinet Secretary

Source: Indian Express

Implement:

GST reform as a “game changer”, Cabinet Secretary,  the government is working “overtime” to implement the indirect tax regime from April 1 next year. The Constitution (122nd Amendment) Bill, 2016, for introduction of the GST in the country was accorded assent by the President and the same has been notified as the Constitution (101st Amendment) Act, 2016.

Challenges:

Government wants to implement the tax reform from April 1 next year so as to ensure a smooth rollover to the changed tax structure from the beginning of the new fiscal and to avoid mid-year alterations.

India would move on to accomplish the objectives and targets set in by the government in all sectors of economic activities with increased participations of all stakeholders to further improve the spirit of governance.

Infrastructure Sector:

The infrastructure sector – roads, civil aviation, energy, conventional and non-convention, power, petroleum and railways – have improved their performance as per targets, adding the civil aviation sector has begun to grow at the rate of 20 per cent, posing a serious challenge to railways in terms of traffic.

Innovation and Improvements:

Government is focused on innovation and trying to make India an easy simple place to do business. The government has taken various steps to facilitate further improvement, including bringing in the bankruptcy law, e-biz platform for a single channel of approvals and a national company law tribunal.

More: Frequently Asked Questions (FAQs) on Goods and Services Tax (GST)

http://pib.nic.in/newsite/PrintRelease.aspx?relid=148240

3.Swachhta Saptah

 Source: PIB

Swachhta Saptah” At New Delhi Railway Station Marking  as Swachh Paryavaran(Clean Environment) Diwas.

Hon’ble Railway Minister Spells Railways’ Commitment Loud and Clear That Sanitation and Cleanliness In Trains and At Station Premises are Special Thrust Areas.

4.Samajik Adikarita Shivir:

Source: The Hindu and PIB

Organized by Department of Empowerment of Persons with Disabilities (DEPwD), Ministry of Social Justice & Empowerment in District- Navsari – Gujarat to distribute Aids and Assistive Devices to Persons with Disabilities.

Sabka Saath, Sabka Vikas

An  irrigation scheme to help farmers in the state, saying the mantra of “Sabka Saath, Sabka Vikas” is resonating all over.

The programme was organised under the Gujarat Vanbandhu Kalyan Yojna for the districts lying in the state’s forest belt.The projects, worth nearly Rs 3,800 crore, include six water supply and four lift irrigation projects.

Vanbandhu Kalyan Yojana was launched in 2007 with an Eleventh Plan allocation of Rs. 15,000 crore for speedy development of tribal areas of the State. The new package envisages re-engineering the processes of existing interventions which focus on livelihood development, provision of quality education and development of infrastructure in these areas.

5.GEAC -Genetic Engineering Approval Committee

Source: PIB

The Environment Ministry has clarified that the Sub-Committee drawn up by GEAC has experts in subjects relevant to safety evaluation of GE crops with expert scientists in specific subjects relevant to safety evaluation of Genetically Engineered (GE) Crops.

Clarifications:

Alleging that the Sub-Committee constituted by GEAC for review of Biosafety Dossier submitted by Centre for Genetic Manipulation of Crop Plants (CGMCP), for the approval of environmental release of Genetically Engineered (GE) Mustard (Brassica juncea) hybrid DMH-11 which is safety for health and environment use and use of parental events (Varuna bn 3.6 and EH-2 modbs 2.99) for the development of new generation hybrids, has “ No Health Expert” in the Sub-Committee.

Biosafety concerns:

Biosafety concerns have led to the development of regulatory regimes in various countries for research, testing, safe use and handling of GMOs(Genetically modified organism) and products thereof. India is one of the earliest countries to establish a biosafety system for regulation of GMOs.

 

 



Leave a Reply