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Highlights of Interim Budget 2019-20

Interim Budget 2019-20, viewed as a medium for a progressive path for the country, with major schemes for farmers and informal sector workers, and income tax sops, was presented by Piyush Goyal Union Minister for Finance, Corporate Affairs, Railways & Coal, in parliament on Friday 1 February 2019, who in the Opening Remarks of his Budget speech asserted that,

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Bankers ask RBI Governor Shaktikanta Das to ease PCA Norms

Prompt Corrective Action (PCA) is triggered when banks breach certain regulatory requirements like capital, asset quality (tracked in terms of the net Non-Performing Assets ratio) and profitability, and Reserve Bank of India (RBI) has on 11out of the 21 state-owned banks imposed PCA, which imposes lending and other restrictions on weak banks. These are Allah...

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India Postal Payments Bank to Facilitate Financial Inclusion

India Postal Payments Bank (IPPB), a major initiative towards financial inclusion, a big outreach to provide ‘door-step banking’ to the poor through an unmatched network of over 1.5 lakh post offices and almost 3 lakh postmen and ‘Grameen Dak Sewaks’ who are connected to the people of the country, was launched by Prime Minister, Narendra Modi on Saturday September 1, 2018 at Talkatora Stadium an...

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Gopalkrishna Gandhi to get 24th Rajiv Gandhi Sadbhavana Award

Rajiv Gandhi National Sadbhavana Award, instituted to commemorate the lasting contribution made by late Rajiv Gandhi former Indian Prime Minister to promote peace, communal harmony and fight against violence and carries a citation and cash award of ₹10 lakh, will be awarded in its 24th edition this year in 2018 to Gopalkrishna Gandhi, for his outstanding contribution ...

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Transformational Changes in Education Sector

To strengthen education system 33 new initiatives have been taken and overall funding for education has increased from ₹ 67867 crore in 2013-14 to ₹ 110000 crore in 2018-19 by the Government, as stated by Union Human Resources Development Minister, Prakash Javadekar, while addressing a Press Conference at New Delhi on June 18, 2018. He added that revolutionary changes have been made to provide a...

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Magsaysay Award to Community-Driven Reformer of Learning

Sonam Wangchuk Ladakhi engineer and innovator from India Is one amongst six individuals who will receive Asia’s premier prize, the Ramon Magsaysay Award 2018 in the 60th year of an annual tradition, the Board of Trustees of the Ramon Magsaysay Award Foundation (RMAF) announced on Thursday July 26, 2018.

Ramon Magsaysay Award - established in ...

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AIIB to Boost Prosperity & Security in Asia & Beyond

"Mobilizing Finance for Infrastructure: Innovation and Collaboration" was the theme of 3rd annual meeting of Asian Infrastructure Investment Bank, inaugurated by India’s Prime Minister Narendra Modi in Mumbai, Maharashtra and attended by over 3,000 delegates from 86 member countries. The Meeting had several concurrent sessions that discussed critical ...

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Intermittency of Renewable Energy Sources to be managed

National Energy Storage Mission would soon be launched by the Ministry of New and Renewable Energy to kick-start grid-connected energy storage in India, set up a regulatory framework and encourage indigenous manufacture of batteries, as per the draft submitted to the Ministry in the last week of April, 2018. “We need a viable commercial plan for storing renewable energy and we will be able to si...

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Indian Banks Win £1.15 billion Debt Recovery Case against Vijay Mallya in UK

Vijay Mallya Indian liquor baron lost a major lawsuit filed in the United Kingdom by 13 Indian banks including State Bank of India, Bank of Baroda, Corporation Bank, Indian Overseas Bank, Federal Bank Ltd., and IDBI Bank Ltd., to recover over £1.15 billion ($1.55 billion) from him. Judge Andrew Henshaw in London on Tuesday May 8, 2018 refused to overturn a worldwide order freezi...

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Economic Center of Gravity Shifted to Asia & the Pacific

Strategy 2030, Asian Development Bank (ADB)'s new long-term corporate strategy to 2030 for expanding its vision to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, aims to set the course for ADB’s efforts to respond effectively to the region’s changing needs. ADB has been a key partner in the significant transformation of Asia and the Pacific tha...

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