Cabinet approves revision of guidelines of Sovereign Gold Bonds Scheme
- On 26 July 2017, the Union Cabinet has given the some of the approvals that is the Sovereign Gold Bonds (SGB) Scheme. The main aim of this approvals that is revised again that is for the achieve its intended objectives.
- Following specific changes in the scheme have been approved:
- The investment limit per fiscal year has been increased to 4 kg for individuals, 4 Kg for Hindu Undivided Family (HUF) and 20 Kg for Trusts and similar entities notified by the Government from time to time.
- The ceiling will be counted on financial year basis and will include the SGBs purchased during the trading in the secondary market.
- The ceiling on investment will not include the holdings as collateral by Banks and Financial institutions.
- SGBs will be available ‘on tap’. Based on the consultation with NSE, BSE, Banks and Department of Post, features of product to emulate ‘On Tap’ sale would be finalized by Ministry of Finance.
- To improve liquidity and tradability of SGBs, appropriate market making initiatives will be devised. Market makers could be commercial banks or any other public sector entity, such as MMTC or any other entity as decided by Gol.
- The Government may, if so felt necessary, allow higher commission to agents.
- The Ministry of Finance is an important ministry within the Government of India concerned with the economy of India, serving as the Indian Treasury Department
- Formed: 29 October 1946
- Jurisdiction: Government of India
- Headquarters: North Block, Cabinet Secretariat, Raisina Hill, New Delhi – 110 001
- Cabinet minister: Arun Jaitley
- Minister of state: Santosh Gangwar, Arjun Ram Meghwal
- Programs: Pradhan Mantri Jan Dhan Yojana
Lok Sabha passes bill to amend Companies Law
- On Thursday, the Lok Sabha has given the Companies Act (Amendment) Bill, 2016 by that there is the many of the changes are in the year 2013 law to for the avoid of the another anxiety and the stress related to the business, strengthen corporate governance standards and prescribes strict action against defaulting companies.
- “Law is as good as it is administered. Companies Act, 2013 is a modern law for rising India. It is important that administration has a mindset keeping in spirit with such a law,” Mahtab noted.
- “The proposed changes are broadly aimed at addressing difficulties in implementation owing to stringency of compliance requirements; facilitating ease of doing business in order to promote growth with employment; harmonisation with accounting standards,” finance minister Arun Jaitley said in the statement of objects of the bill.
- “The passage of this bill will help in increasing the size of the country’s economy,” Meghwal said, adding that investor protection and corporate governance were the two main objectives of the measure.
Bengaluru ranks 40 among top 50 cities for women entrepreneurs – Dell
- Bengaluru which is the India’s Silicon Valley but it has make it place at the 40th among the 50 global cities which shows the high-potential women entrepreneurs, according to a report by tech giant Dell.
- Dell,by the startup of the new Women Entrepreneur (WE) Cities Index, has been ranked by the city of the growth and the index page women-owned firms.
- “Globally, women’s entrepreneurship rates are growing more than 10 per cent each year. In fact, women are as likely as or more likely than men to start businesses in many markets,” said Karen Quintos, EVP and chief customer officer at Dell.
- “By arming city leaders and policymakers with data-driven research and clear calls to action, we can collectively improve the landscape for high-potential women entrepreneurs, which in turn dramatically lifts a city’s economic prospects – as what is good for women is good for the economy,” she noted.
- Fate- Merged to form a new company
- Founded- February 1, 1984; 33 years ago
- Founder- Michael Dell
- Headquarters- Round Rock, Texas, United States
- Area served- Worldwide
- Key people- Michael Dell, (Founder, Chairman & CEO of Dell Technologies)
- Products- Personal computers, Servers, Peripherals, Smartphones, Televisions
BRICS nations sign memorandum to facilitate taxation cooperation
- The 2017 BRICS Labour and Employment ministers held the meeting in the Chongqing, China on 27 July 2017 in that there is the signs of the BRICS Taxation Cooperation Memorandum.
- The Memorandum that is the MoU is signs by the Heads of Tax Authorities of the five BRICS Nations aims to establish a mechanism for taxation cooperation and is the bloc’s first document that elevates taxation cooperation to the institutional level.
- The another company that is of the taxation information exchange, improve consultation procedures efficiency, boost taxation capacities and plan paths for coordination of taxation policies and tax collection.
- There is the good thing that is the all the BRICS has get agreed for the employment and better quality of life for their people. The meeting comes ahead of the 2017 BRICS Summit, which is scheduled to be held in Xiamen, China from 3-5 September 2017.
BANKING & FINANCE
RBI sets up Supervisory Colleges for six Scheduled Commercial Banks which have sizeable international presence
- Reserve Bank of India (RBI) has informed that Supervisory Colleges have been setup for the following six Scheduled Commercial Banks which have sizeable international presence:-
- State Bank of India, ICICI Bank Ltd., Bank of India, Bank of Baroda, Axis Bank Ltd. and Punjab National Bank.
- The objectives of the colleges are to enhance information exchange and cooperation among supervisors, to improve understanding of the risk profile of the banking group and thereby facilitate more effective supervision of internationally active banks.
- This was stated by Shri Santosh Kumar Gangwar, Minister of State for Finance in written reply to a question in Lok Sabha today.
- The Reserve Bank of India is India’s central banking institution, which controls the monetary policy of the Indian rupee.
- Address: Central Office Building, Shahid Bhagat Singh Road, Fort, Mumbai, Maharashtra 400001
- Governor: Urjit Patel
Science and Technology
Iran successfully launches satellite-carrying rocket
- Iran has launched successfully its very versatile satellite and this satellite-carrying rocket into space, the country’s state media reported Thursday, in what is likely the most significant step yet for the launch vehicle.
- On Tuesday, Trump told the Wall Street Journal he would be “surprised” if Iran passed its next review in three months. “We’ll talk about the subject in 90 days,” he said. “If it was up to me, I would have had them non compliant 180 days ago.”
- Later that night at a speech in Youngstown, Ohio, Trump warned Iran that it could face “big, big problems” if it failed to comply. Instead of thanking the U.S. for the certification, Trump said, Iran had become “emboldened” by the deal. “That won’t take place much longer,” he added.
- “You want the breakup of [the JCPOA] to be about Iran,” said Bob Corker, the chairman of the Senate Foreign Relations Committee, at an event on Wednesday. “You don’t want it to be about the U.S.”
- Iran is an Islamic republic on the Persian (Arabian) Gulf with historical sites dating to the Persian Empire
- Extensive marble ruins mark Persepolis, the empire’s capital founded by Darius I in the 6th century B.C.
- The modern capital, Tehran, is home to opulent Golestan Palace, seat of the Qajar Dynasty (1794–1925), plus modern landmarks such as the 435m-high Milad Tower
- Capital: Tehran
- Currency: Iranian rial
- President: Hassan Rouhani
- Supreme leader: Ali Khamenei
- Official language: Persian
Prannoy climbs to 17th spot in BWF rankings
- Courtesy at the US Open Grand Prix Gold title triumph, Indian shuttler HS Prannoy ranked its place to the six places from the 17th place direct 6th position that is in the latest BWF world rankings.
- Parupalli Kashyap, has been reached his first of the final of the US Open that is after the two year because of the getting of the more of the injuries, he has got the 12 places to be at the 47th spot.
- Sameer Verma, is the fourth India who has qualified for the World Championship, jumped four spots to be 28th in the standings.
- To see the improvement of the Prannoy in their position, India have four men in the top-20. Kidambi Srikanth, who clinched back-to-back titles at Indonesia and Australia, is the highest ranked Indian at number 8.
AWARDS & RECOGNITION
Telangana showers Mithali with awards
- The Chief Minister of Telangana K. Chandrasekhara Rao has announced a cash award of Rs 1 crore and a house site of 600 square yards to be allotted to Mithali Raj in the posh Banjara HIlls locality of Hyderabad.
- “This is a fantastic gesture and a truly unforgettable one. The best part was that honourable Chief Minister showed a lot of interest in our performances and made a lot of enquiries about what more is needed to give a new direction to the sport in the State. Yes, this is a new kind of experience for me. If you remember, when I came back in 2005 after leading India to World Cup final in South Africa, there was no one to receive me except my family members” Mithali informed Sportstar.
- “Maybe, this was because the entire World Cup was televised live across India and also because of the fact that the BCCI has taken over the sport since 2006,” a smiling Indian captain said.
- “I was really glad when the Chief Minister told me that he watched the entire final. In fact, even the honourable Prime Minister Narendra Modi also said he watched the sport. This is something really great as it is not just the average cricket fan who followed our fortunes but celebrities from every walk of life. I must thank Murthy Sir for all the support at critical junctures in my career, especially in the last few years. He has been a source of inspiration, friend and a real mentor,” said Mithali, who is also an officer in the SCR.
- Telangana is one of the 29 states in India, located in southern India
- Formed on 2 June 2014 as the youngest state in India, from the northwestern part of the Joint State of Andhra Pradesh
- Founded: 2 June 2014
- Capital: Hyderabad
- Districts: 31
- Population: 35.19 million (1 Mar 2011)
- Points of interest: Charminar, Golkonda, Ramoji Film City
John G. Morris, Renowned Photo Editor in the Thick of History, Dies at 100
- John G. Morris, who was the owner of the picture of the that is from the photojournalism from World War II through the Vietnam War, has died at the hospital in the Paris at the age of the 100 years.
- “For five minutes, the throng in the Embassy Room was thrown into a state of panic,” Mr. Morris reported. “The cries of admiration changed to hysterical screams as the shots — muffled by the crowd noise — penetrated the consciousness of the bystanders.”
- Recalling the episode, he told NPR in 2002: “I said, ‘I can’t believe it.’ So I ran to look at them with him, and I held up the rolls one at a time. And the first three were just soup. You couldn’t see anything. But on the fourth roll of film, the last one, there were 11 images that were discernible. And those pictures saved us, and those were the pictures that have come to symbolize D-Day ever since.”
- Photojournalism, Mr. Morris said, “Great photographers have to have three things,” he continued. “They have to have heart if they’re going to photograph people. They have to have an eye, obviously, to be able to compose. And they have to have a brain to think about what they’re shooting. Too many photographers have two of the three attributes, but not the third.”
International Day of Friendship
- Friendship Day as the name says that it is the day of celebrating the friendship. This friendship day is celebrated at the many of the country like the southern South American countries for many years, mainly in the in Paraguay, where the first World Friendship Day – International Friendship Day was proposed in 1958.
- Friendship Day celebration has been celebrated on the different dates in many of the countries. The first World Friendship Day was proposed for 30 July in 1958, by the World Friendship Crusade.
- On the date 27 April 2011 the General Assembly of the United Nations declared 30 July as official International Friendship Day.