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Current Affairs

Korea Exim Bank Extends Rs 4,100 crore Loan for Vizag Metro

  Korea Exim Bank has come forward to extend a Rs 4,100 crore loan for Visakhapatnam (VIZAG) Metro Rail project The state government had earlier sent a proposal in this regard to the Central government, which in turn forwarded it to Korea Exim Bank. Following this, the Bank deputed a team to Amaravati to hold talks with the state government.
Source- The Indian Express
Catgeory: Economy & Banking

3-member Mediation Panel Created By Supreme Court To Settle Ram Mandir-Babri Masjid Case

 The Supreme Court ordered a court-monitored mediation in the Ram Janmabhoomi-Babri Masjid land dispute case to arrive at a “permanent solution” to the politically and religiously sensitive issue. The five-judge constitution bench headed by CJI Ranjan Gogoi appointed a panel of 3 mediators in the title suit with Retired Justice Kalifullah chairing the court-appointed and monitored mediation process. The other two members are spiritual leader Sri Sri Ravi Shankar and senior advocate Sriram Panchu. 
Here is the Short Information on the 3 Members of the Panel:
  • 1. Retired Justice F M Ibrahim Kalifulla: Justice Kalifulla started his law practice in Chennai. He was appointed Madras High Court judge in 2000.
  • 2. Sri Sri Ravi Shankar: Founder of Art of Living foundation, Sri Sri Ravi Shankar was born in Papanasam, Tamil Nadu and has made a lot of controversial statements about the Ayodhya case in the past.
  • 3. Sr. Advocate Sriram Panchu- Senior Advocate and an expert mediator, Sriram Panchu has been mediating cases since 1990s. He founded The Mediation Chambers, India’s first such centre in 2005 and is also on the board of the International Mediation Institute (IMI) as a director.
Catgeory: Government Schemes

India Bags 1st Prize At International ‘Golden City Gate Tourism Awards 2019’ In Berlin

  The Ministry of Tourism, Government of India has won the First Prize in the category of TV Cinema Spot at the prestigious international Golden City Gate Tourism Awards 2019. The awards were received by Yogendra Tripathi, Secretary, Tourism at ITB, Berlin.
Following promotional films / television commercials produced by the Ministry as part of its Incredible India 2.0 Campaign received the awards:
  • Yogi of the Racetrack,
  • The Reincarnation of Mr. and Mrs. Jones,
  • Sanctuary in Paris,
  • Maharani of Manhattan and,
  • Masala Master Chef.
    		•
    Source-United News of India
    Catgeory: Awards & Honours

    Acko Awarded Coveted Golden Peacock Award 2019 For Innovative Product

      ACKO General Insurance a new-age digital insurance company was awarded the coveted Golden Peacock Innovative Product Award – 2019, for their contextual micro insurance product –“Ola Ride Insurance”. The award was presented to Mr. Biresh Giri, Appointed Actuary & CRO, Acko. The award ceremony was held in Dubai. Established by the Institute of Directors, India in 1991, The Golden Peacock Awards for Corporate Leadership and Excellence are now regarded as a benchmark of business excellence, both locally and globally.
    Source- The Indian Express
    Catgeory: Awards & Honours

    14th CII-EXIM Bank Conclave On India-Africa Project Partnerships To Be Held In New Delhi

      Ministry of Commerce & Industry will be organizing the 14th CII-EXIM Bank Conclave on India-Africa Project Partnerships, in association with Confederation of Indian Industry and EXIM Bank of India in New Delhi. The event will mark the deepening of India-Africa economic and business ties and pave the way for a whole range of cross-border project partnerships. The conclave brings senior Ministers, policymakers, officials, business leaders, bankers, technologists, start-up entrepreneurs and other professionals from India and Africa on a common platform in a spirit of partnership.
    Source- Press Information Bureau (PIB)
    Catgeory: Summits

    Insolvency And Bankruptcy Board Inks Cooperation Agreement With IFC

     The Insolvency and Bankruptcy Board of India (IBBI) has signed a Cooperation Agreement with the International Finance Corporation (IFC), a member of the World Bank Group (WBG). The agreement will enable IFC to assist IBBI to further build the capacity of insolvency professionals, and insolvency professional agencies for the purposes of the Code. The agreement was signed by K. R. Saji Kumar, Executive Director, IBBI and Jun Zhang, Country Manager, IFC India.
    Source- Press Information Bureau (PIB)
    Catgeory: Agreements

    India launches third IT corridor in China

      India has launched its third IT corridor in China. The corridor will facilitate partnerships between Indian and Chinese companies. National Association of Software and Services Companies (NASSCOM) entered into a partnership with China’s Xuzhou city from Jiangsu Province in China to help develop the IT corridor.
    IT Corridor
    • IT corridor facilitates partnerships between Indian and Chinese companies by enabling Indian software and service industry associations to enter the Chinese market and seize the development opportunities in China.
    • The corridor facilitates will facilitate match-making between Indian companies wanting to collaborate with companies in China looking to adopt digital transformation from verticals such as manufacturing, retail, automotive, healthcare and utilities and help them create innovative product and solutions in the co-create mode.
    • The corridor will help create more jobs in China and India and facilitate talent transfer between the two countries.
    • The earlier two corridors launched at Dalian and Guiyang cities has brought to fore opportunities with over 300 companies where more than 10 Indian SME companies have signed deals worth 31 Million RMB (USD 4.5 million).
    • The first two corridors had enabled cooperation in co-create mode in the emerging technologies such as AI, IoT and Analytics in the Chinese market.
    IT corridor project between India and China strengthens India-China Digital Cooperation by leveraging the respective strengths in hardware and software to build innovative products and solutions in Co-create mode.
    Catgeory: National

    Prices of 90 cancer medicines cut by up to 87%

      The National Pharmaceutical Pricing Authority (NPPA) has reduced the MRP of 390 non-scheduled cancer medicines have been reduced by up to 87%.  NPA has asked the manufacturers and hospitals to revise the prices based on the trade margin formula. The release by the NPPA states that five brands will see a price reduction of about 70%, while 12 others will see a 50-70% price cut. MRPs of 45 cancer medicines will reduce by 25%.
    Benefits from the Move
    • This price reduction is expected to result in annual savings of around Rs 800 crore for patients.
    • The price reduction is expected to benefit about 22 lakh cancer patients in India.
    National Pharmaceutical Pricing Authority National Pharmaceutical Pricing Authority (NPPA) constituted in 1997 is an independent Regulator for pricing of drugs and to ensure availability and accessibility of medicines at affordable prices under the Ministry of Chemicals & Fertilizers. The functions of NPPA include:
    • To implement and enforce the provisions of the Drugs (Prices Control) Order.
    • To monitor the availability of drugs, identify shortages, if any, and to take remedial steps.
    • To collect and maintain data on production, exports and imports, the market share of individual companies, the profitability of companies etc, for bulk drugs and formulations.
    • To undertake relevant studies with respect to the pricing of drugs and pharmaceuticals.
    • To render advice to the Central Government on changes and revisions in the drug policy.
    • To render assistance to the Central Government in the parliamentary matters relating to the drug pricing.
    NPPA implements the National Pharmaceutical Pricing Policy 2012. NPPA provides ceiling price to all Drugs notified under Schedule-I of the DPCO, 2013 and monitors annual price increase for these and the non-scheduled drugs.
    Catgeory: National

    SC Proposes Mediation Panel for Ram Janmabhoomi-Babri Masjid Land Dispute Case

      The Supreme Court has proposed a court-monitored mediation in the Ram Janmabhoomi-Babri Masjid land dispute case to arrive at a permanent solution to the politically and religiously sensitive issue. The mediation panel consists of three members. Justice Kalifullah, Retired judge of the Supreme Court will chair the court-appointed and monitored mediation process and the other two members are spiritual leader Sri Sri Ravi Shankar and senior advocate Sriram Panchu. The mediation panel will hold the proceedings at Faizabad ensuring full confidentiality. The mediation process is expected to start in a week. The status report of the mediation committee will have to be completed in four weeks with 8 weeks deadline to conclude the hearing.
    • What is the dispute?
    The Babri Masjid-Ram Janmabhoomi case is a property dispute over the land where the Babri Masjid, a 16th-century mosque once stood. The mosque was razed by kar sevaks on 6 December 1992. The Hindu groups claim that the exact site of Lord Ram’s birthplace is where the Babri Masjid was once located. They argue that the Mughals demolished a Hindu shrine that marked the spot of Lord Ram’s birthplace and constructed a mosque in its place. Those oppose to this view argue that such arguments arose only in the 18th century, and that there is no evidence for the spot being the birthplace of Rama.
    Catgeory: National

    Government Launches e-Dharti app and e-Dharti GeoPortal

     The Union Housing and Urban Affairs Minister Hardeep Puri launched the e-Dharti app and e-Dharti GeoPortal to help the public in getting the necessary information on fingertips and the government to effectively manage its properties.
    e-Dharti app
    • Under the e-Dharti app, all the three modules- Conversion, Substitution and Mutation related to properties have been made online.
    • The payment system in Land and Development Office, L&DO has also been completely digitized.
    • This enables the public to submit their applications online by visiting the L&DO website. This absolves the need to visit the office for submission of them and for follow up of their applications.
    e-Dharti GeoPortal
    • e-Dharti GeoPortal enables the lessee of the property to see the basic details of property along with the map showing its location.
    • The lessee can also be issued a Property Card from this office about his property if he asks for it.
    • e-Dharti GeoPortal will also benefit the government by letting it know the actual status of its vacant properties, whether there is any encroachment on the property.
    The government is in process of digitising and integrating other three modules- Sale Permission, Mortgage Permission and  Gift Permission. Once completed this digitisation and integration will go a long way in streamlining the working of property related matters by making it more public friendly, efficient, accountable and transparent.
    Catgeory: National

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