Lok Sabha Passes Gratuity Amendment Bill
- The Lok Sabha on Friday has passed the Payment of Gratuity (Amendment) bill that has been going to take the power in the government to exact time of the of maternity leave and tax-free gratuity amount with an executive order.
- There has been the stanza of the Payment of Gratuity (Amendment) Bill in the Rajya Sabha, the government has been going to boost the ceiling of tax-free gratuity to Rs 20 lakh from existing Rs 10 lakh for employee in this Payment of Gratuity Act.
- Just after the install of the seventh Central Pay Commission, the ceiling of gratuity amount for central government employees has been raised from Rs 10 lakh to Rs 20 lakh. The unions has did the demand of the inclusion of the change into the Act.
- The bill was passed amid the din in the Lok Sabha today as uproar over a host of issues went for the second week in a row.
President releases commemorative coins on Nabakalebar festival
- President Ram Nath Kovind on Sunday has launched commemorative coins in denominations of ₹10 and ₹1000 on Lord Jagannath’s Nabakalebar festival.
- The President, who has been going to Odisha, has launched the coins at the time of the centenary celebration of Rastriya Sanskrit Sansthan in Puri.
- At the side of the gathering, Mr. Kovind has described the pilgrim town of Puri as the ‘Vidya Nagri’ (education hub) in term of its connectivity with knowledge and science since ancient times.
- He mentioned that the Puri was one of the four ‘dhams’ for Hindus, where the saints and spiritual leaders like Adi Shankaracharya, Ramanuj, Chaitanya and Guru Nanak visited and established their mutts to be in services of Lord Jagannath.
Sajibu Nongma Panba Cheiraoba celebrated in Manipur
- Sajibu Nongma Panba Cheiraoba, the New Year of Manipuri lunar calendar was celebrated with gaiety and fervour in Manipur on Sunday. Cheiraoba is the New Year festival of Manipur. It is celebrated on the first day of the month Sajibu like the usually falls in March or April). Sanamahi, which is the domestic deity of the people of Manipur, is worshipped on this day.
- The celebration has started at the time of the fall of the fruits, vegetables, rice and other uncooked food items to the Meitei deity Lainingthou Sanamahi in the morning. He did the special food with the family members, people, particularly youths and young couples with their wards worship hill deity after climbing nearby hills.
Pak pulls out of WTO meet in India amid diplomatic tension
- Amidst in the recent there has been the implement of the neighboring countries of India and Pakistan, Islamabad diplomatic sources said, “Pakistan was pulling out of the WTO ministerial meet in India due to the current situation.”
- “It was Pakistan’s decision to pull out at the last minute, and the Indian side could not comment on it,” an Indian official was quoted as saying by NDTV.
- India had also given the invitation to the Pakistan to participate in the meeting, which has been confirmed by Pakistan’s Commerce Minister Pervaiz Malik earlier in February. Now, the invite has been rejected.
BANKING AND FINANCE
SEBI Raises Currency Derivative Trade Limit to $100 Million
- The Securities and Exchange Board of India (Sebi) has increased the limit of the tendency that is the exchange-traded currency derivatives trading for residents and foreign portfolio investors (FPIs) to $ 100 million across all currency pairs involving the Indian rupee.
- The Sebi has get moved at the follows the Reserve Bank of India has taken the decision in the month of February to increase these limits, beyond which market participants would be required to establish proof of underlying exposure in the currency derivatives segment.
- “Domestic clients/FPIs may take long or short positions without having to establish existence of underlying exposure, up to a single limit of $ 100 million equivalent, across all currency pairs involving INR, put together, and combined across all the stock exchanges,” Sebi said in a circular.
India and ADB Signed $120 Million Loan to Improve Rail Infrastructure
- Government of India and the Asian Development Bank (ADB) on Friday has signed a $120 million loan agreement to complete the works for double tracking and electrification of railways tracks along high-density corridors to improve operational efficiency of Indian railways.
- There has the transaction of the three loan is part of the $500 million multi-tranche financing facility for Railway Sector Investment Program that has approved by the ADB Board in the year 2011. The loan amount will be used in the completion of the ongoing works commenced under earlier tranches.
- Sameer Kumar Khare, who is the Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance, has signed the loan for the Government of India, and Mr. Kenichi Yokoyama, Country Director of ADB’s India Resident Mission, signed on behalf of ADB.
- The main aim of this project is to boost the efficiency of the rail infrastructure through electrification, introduction of modern signaling system, and doubling rail tracks on key routes in the country.
Sri Lanka Pays Tribute to J Dalmiya with Book ‘A Tribute to Jagu’
- Sri Lanka Cricket (SLC), on the event of the 70th independence of the island nation, has given a glowing tribute to former BCCI President Jagmohan Dalmiya by launch of a book, titled A Tribute to Jagu.
- SLC President Thilanga Sumathipala lauded Dalmiya’s role in strengthening the Asian Bloc.
- Thilanga has said Dalmiya as a ‘hero’ who had the guts to stand up for what was right and carry on in the face of unmatched adversity. They felicitated him posthumously as the greatest non-Sri Lankan contributor to their country’s cricket.
Former Bengal minister Pratim Chatterjee passes away
- Former Bengal minister Pratim Chatterjee has been died Former West Bengal minister Pratim Chatterjee , who held the Fire Services portfolio for 15 years till the year 2011, has been died on Sunday, family sources said.
- “Chatterjee, president of Left Front constituent Marxist Forward Bloc, was suffering from breathing trouble, had undergone treatment at a private hospital in Salt Lake for a month, and was released from there on March 14,” his son in-law Dibyojyoti Ghosh said.
- “He complained of uneasiness this morning and was admitted to the same facility, where he died of a cardiac arrest at 10.15 am,” Ghosh said.