1. Union Cabinet allows 100 per cent FDI under automatic route for white label ATMs
i. The Union Cabinet has allowed 100
per cent foreign direct investment (FDI) under the automatic route for
white label ATM operations (WLAO).
ii. Decision in this regard was taken in Union Cabinet meeting chaired by Prime Minister Narendra Modi in New Delhi.
iii. This decision will expedite and
ease FDI inflows in WLAO further giving a fillip to the government’s
ambitious effort to promote financial inclusion in the country,
including the Pradhan Mantri Jan Dhan Yojna (PMJDY).
iv. Prior this approval, foreign
investment in WLAO was allowed through the government approval route
which required some processing time and projects were delayed.
2. Gandhi Peace Prize 2014 conferred on ISRO
i. President Pranab Mukherjee conferred the Gandhi Peace Prize for the year 2014 on Indian Space Research Organization (ISRO).
ii.
ISRO Chairman A S Kiran Kumar on behalf of the organisation received
the prize at a function held at Rashtrapati Bhavan in New Delhi.
iii. ISRO was chosen for the
prestigious award in March 2015 for its contribution in development of
space technology and satellite-based services, making space technology a
catalyst of development of India and bringing societal transformation
and provided the service to the common man and nation.
iv. Gandhi Peace Prize is awarded
annually to individuals and institutions for their contributions towards
social, economic and political transformation through non-violence and
other Gandhian methods.
3. South Asian Sub-Regional Drug Focal Point meeting begins in New Delhi
i. Sub-Regional Drug Focal Point
Meeting and Colombo Plan Drug Advisory Programme (CPDAP), South Asia
under the Drug Demand Reduction (DDR) Expert Group Consultation has
begun in New Delhi.
ii. The three-day meeting was
inaugurated by Union Home Minister Rajnath Singh which has been
organised by Narcotics Control Bureau (NCB).
iii. The main objective is to review the progress of the Drug Demand and Supply Reduction activities in the South Asia region.
iv. It is to facilitate exchange of
views between delegates on technical aspects of the drug cooperation
programme and it aims at achieving efficiency and effectiveness.
v. CPDAP will provide a great
platform to coordinate among different countries fighting for the cause
of drug menace. About 40 delegates from various participating countries
are participating in this meeting.
4. NTPC to raise Rs. 700 cr via tax free bonds
i. State-run power utility NTPC will raise up to Rs. 700 crore through tax free secured non-convertible bonds.
ii.
The government has approved the company’s raising Rs. 1,000 crore
through tax free bonds, including Rs. 700 crore through public issue.
iii. According to statement, the
issue will be for an amount of Rs. 400 crore (“Base issue size“) with an
option to retain over subscription of up to Rs. 300 crore for issuance
of additional bonds aggregating a total of up to Rs. 700 crore (“issue
size“) fiscal 2016 (“issue“).
iv. A draft prospectus dated
September 9, has been made public for seeking their comments on the
issue in compliance with the SEBI regulations.
5. E-payment literacy meet
i. Lack of financial literacy among
the public is the main reason for common man falling prey to fraudsters,
according to Sushma Godbole, Chief Executive Officer of Dharwad Zilla
Panchayat.
ii. She was speaking after
inaugurating the ‘e-Payments Literacy Workshop’ organised by National
Payments Corporation of India (NPCI), under the aegis of Nabard and
Karnataka Vikas Grameen Bank (KVGB) at Dharwad on Tuesday, a press
release said.
iii. Ashok Reddy, Chairman of KVGB,
said the bank has initiated several measures to educate people on basic
banking fundamentals.
iv. The event was hosted by NPCI
representatives in 28 States at 120 centres supported by all 56 RRBs in
the country, the release added.
6. Union Cabinet approves National Offshore Wind Energy Policy
i. Union Cabinet cleared National
Offshore Wind Energy Policy to generate electricity from offshore
windmills located in areas within Exclusive Economic Zone (EEZ) of the
country.
ii. Offshore wind power projects and
R&D activities will be carried in waters up to the seaward distance
of 200 Nautical Miles (EEZ of the country) from the base line.
iii. Union Ministry of New &
Renewable Energy (MNRE) will be nodal Ministry. National Institute of
Wind Energy (NIWE) will be nodal agency for allocation of offshore Wind
Energy blocks.
iv. National Institute of Wind
Energy (NIWE) will be nodal agency for allocation of offshore Wind
Energy blocks. NIWE has been authorized to carry out allocation of
offshore wind energy blocks. It will also frame guidelines for
coordination and allied functions with related ministries and agencies.
7. India, Indonesia sign pact to cooperate on criminal matters
i. India and Indonesia have signed a
pact for repatriation of wanted prisoners and cooperate in all criminal
matters, including gathering evidence.
ii. In this regard Union Ministry of
Home Affairs has issued an official gazette notification for service or
execution of summons or warrant in relation to criminal matters in both
countries.
iii. India will execute summons to
an accused person (or any person) requiring to produce documents and
attend or a search-warrant issued by an Indonesian court.
iv. Indonesia will reciprocate with similar action to execute summons if there is any request from any Indian court.
