Pradhan Mantri Ujjwala Yojna Launched in Maharastra
Union Petrolium Minister Sh. Dharmendra Pradhan launched PMUY in Maharastra. It is the 17th state to provide Free LPG Connections to households having BPL Cards.
A Target hs been set to distribute 10 Lakhs LPG connections including 1 Lakhs in Mumbai in the year 2016-17.
It will direct benefit 91 Lakhs BPL Households living in the region.
Payment Banks required to take approval from RBI’s Prior to launch any product
The RBI has notified organizations which have been granted payment bank license will need to take specific approval for products they would be offering to customers.
RBI has issued separate operating guidelines for payments banks in view to focus on financial inclusion.
Earlier,RBI had granted in-principle licenses to 11 payments banks in August 2015.
See How different Payment Bank is from Regular Bank. Click Here
GST system will boost India’s medium-term growth: IMF
According to International Monetary Fund (IMF), the adoption of Goods and Services tax (GST ) will boost India’s medium-term growth.
It has been mentioned in the IMF’s latest Asia Pacific regional economic update.
The IMF opined that as shown by India, progress on reforms could initiate business investment, including already strong FDI inflows, which will further increase domestic demand.
Goods and Services tax (GST) is uniform single indirect tax regime throughout the country that has merged central and state indirect taxes into single indirect tax.
The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
The New IBA Chairman is Rajeev Rishi
Chairman & Managing Director (CMD) of Central Bank of India Rajeev Rishi has been elected as the Chairman of the Indian Banks’ Association (IBA) for the financial year 2016-17.
Rishi took charge from Chairman and Managing director of Dena Bank Ashwani Kumar.
Indian Banks’ Association was formed on 26 Sept 1946 as a representative body of management of banking in India operating in India to boost cooperation among banks.
Justice Mohanty- The New Acting CJ Of Jharkhand HC.
Justice Pradip Kumar Mohanty has been appointed the acting chief justice of the Jharkhand High Court.
He will replace Justice Virendra Singh.
Now Justice Mohanty assumes charge as acting chief justice of Madhya Pradesh, Andhra Pradesh/ Telangana and Jharkhand high courts.
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Nobel Prize Peace Was Awarded to Colombian President-Juan Manuel Santos
President Juan Manuel Santos ofColumbia has been awarded the Nobel Peace Prize 2016 for his efforts to bring the country’s more than 50-year-long civil war to an end.
The award was also a tribute to the Colombians who kept a hope of peace to them as well as to the families of the victims of the war.
More than 260,000 people have been killed and around 45,000 missing over five decades, by several leftist guerrilla groups, right-wing paramilitaries and drug gangs.