The Election Commission of India launched its online RTI Portal.
The portal – rti.eci.nic.in will facilitate applicants seeking information under the Right to Information Act.
The portal also facilitates online reply to applications and also for making first appeal and reply thereto.
Union Minister Nirmala Sitharaman Flags-in NIMAS expedition team to Mt Everest
This expedition conducted successfully by National Institute for Mountaineering & Allied Sports (NIMAS), Dirang, Arunachal Pradesh in New Delhi.
Sitharaman congratulated the team led by Director and Team Leader Col Sarfraz Singh for their remarkable achievement.
It is for the first time that any National Institute expedition team has put eight members on the top of Mt.Everest in their maiden attempt.
The expedition started from South Ridge of Mt Everest from Nepal side on 02 April 2018 from Lukla to Everest Base camp via Namche.
The team scaled Mt.Lobuche in Nepal on 20 April 2018 as part of acclimatization and final conditioning training.
India records 22% reduction in Maternal Mortality Ratio since 2013
India registered a significant decline in Maternal Mortality Ratio (MMR) recording a 22% reduction in such deaths since 2013.
According to the Sample Registration System bulletin released yesterday, the MMR has declined from 167 in 2011-2013 to 130 in 2014-2016.
World Bank approves Rs 6000 crores for Atal Bhujal Yojana aims to improve groundwater management in country
Atal Bhujal Yojana is a Central Sector Scheme of the Ministry of Water Resources, River Development and Ganga Rejuvenation aim to improve groundwater management in priority areas in the country through community participation.
Notably, the scheme is to be implemented over a period of five years from 2018-19 to 2022-23, with the Rs.6000 crore assistance of World Bank.
The priority areas identified under the scheme fall in the states of Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh.
These States represent about 25% of the total number of over-exploited, critical and semi-critical blocks in terms of groundwater in India.
They also cover two major types of groundwater systems found in India – alluvial and hard rock aquifers- and have varying degrees of institutional readiness and experience in groundwater management.
RBI allows Urban Co-operative Banks to become Small Finance Banks
The Urban Co-Operative Banks can now covert into SFBs after meeting the prescribed criteria. The details of the scheme will be announced separately by the RBI.
The decision was taken during the meeting of the Monetary Policy Committee.
The panel recommended voluntary conversion of large Multi-State UCBs into Joint Stock Companies and conversion of other UCBs into SFBs, which meet certain criteria.
The panel recommended converting UCBs with business size of Rs 20000 crore or more into regular banks in a bid to propel their growth.
It also recommended that licenses may be issued to “financially sound and well-managed co-operative credit societies” having a minimum track record of five years which suit the regulatory prescriptions set by the RBI.
The Urban Cooperative Banks (UCBs)
They are registered as cooperative societies under the provisions of, either the State Cooperative Societies Act of the concerned State or the Multi State Cooperative Societies Act, 2002.
They are regulated and supervised by the Registrar of Cooperative Societies (RCS) of State concerned or by the Central Registrar of Cooperative Societies (CRCS), as the case may be.
Banking Regulation Act, 1949 is partially applicable to co-operative banks. Thus RBI has partial control on co-operative banks.
Promulgation of Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018
The Ordinance provides significant relief to home buyers by recognising them as financial creditors.
Home buyers will have representation in the Committee of Creditors and will be an integral part of the decision making process.
Homebuyers will have the right to initiate a resolution process against the bankrupt real estate companies and get their money back.
It will also enable home buyers to invoke Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016 against errant developers.
The biggest beneficiaries of this ordinance will be homebuyers as the present version of the IBC
Another major beneficiary – Micro, Small and Medium Sector Enterprises (MSME)
The Ordinance empowers the Central Government to provide them with a special dispensation under the IBC.
The ordinance does not disqualify the promoter to bid for his enterprise undergoing Corporate Insolvency Resolution Process (CIRP), provided he is not a willful defaulter and does not attract other disqualifications not related to default.
It also empowers the Central Government to allow further exemptions with respect to the MSME Sector in public interest, if required.
The Ordinance also provides for a mechanism to allow participation of security holders, deposit holders and all other classes of financial creditors that exceed a certain number, in the meetings of the Committee of Creditors
The ordinance proposes to facilitate implementation of the resolution plan by the successful bidder.
It provides a year time to the Resolution Applicant to obtain necessary statutory clearances from central, state and other authorities.